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6,400 Whirlpool Corp. 345,088 0.01 100 White Mountains Insurance Group Ltd. 219,696 0.01 800 Whitefiber, Inc. 9,528 0.00 1,489 Willdan Group, Inc. 113,998 0.00 66,449 Williams Cos., Inc. 4,836,159 0.09 2,493 Williams-Sonoma, Inc. 454,549 0.01 630 Willis Towers Watson PLC 183,141 0.00 43,275 WillScot Holdings Corp. 751,254 0.02 501 Wingstop, Inc. 77,640 0.00 324 Wix.com Ltd. 29,183 0.00 200 Woodward, Inc. 71,584 0.00 14,620 Workday, Inc. 1,899,431 0.04

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Common Stock - 97.50% (March 2025: 96.66%) (continued) United States Dollar - 60.78% (continued) 24,438 Workiva, Inc. 1,457,238 0.03 4,075 WW Grainger, Inc. 4,445,051 0.09 3,200 Wyndham Hotels & Resorts, Inc. 259,936 0.01 675 Wynn Resorts Ltd. 68,546 0.00 58,162 Xcel Energy, Inc. 4,620,390 0.09 866 Xenon Pharmaceuticals, Inc. 50,358 0.00 2,100 Xeris Biopharma Holdings, Inc. 12,180 0.00 300 Xometry, Inc. 12,252 0.00 26,800 XP, Inc. 510,272 0.01 1,300 XPO, Inc. 252,915 0.01 1,000 Xylem, Inc. 119,500 0.00 500 YETI Holdings, Inc. 18,295 0.00 17,295 Yum China Holdings, Inc. 843,650 0.02 22,446 Yum! Brands, Inc. 3,489,904 0.07 324 Zebra Technologies Corp. 67,742 0.00 1,700 Zenas Biopharma, Inc. 33,235 0.00 4,200 Zeta Global Holdings Corp. 66,864 0.00 3,640 Zillow Group, Inc. 150,623 0.00 4,000 ZIM Integrated Shipping Services Ltd. 105,400 0.00 27,507 Zimmer Biomet Holdings, Inc. 2,487,183 0.05 700 Zions Bancorp NA 40,334 0.00 32,151 Zoetis, Inc. 3,800,570 0.07 1,572 Zoom Communications, Inc. 126,373 0.00 2,054 ZoomInfo Technologies, Inc. 12,283 0.00 1,819 Zscaler, Inc. 255,188 0.01 46,434 Zurn Elkay Water Solutions Corp. 2,082,101 0.04 500 Zymeworks, Inc. 12,520 0.00 3,132,208,938 60.78 Yuan Renminbi - 0.29% 2,700 360 Security Technology, Inc. 4,183 0.00 9,000 37 Interactive Entertainment Network Technology Group Co. Ltd. 27,899 0.00 540,500 Agricultural Bank of China Ltd. (Class A) 524,324 0.01 5,000 Aier Eye Hospital Group Co. Ltd. 6,885 0.00 119,500 Air China Ltd. 116,443 0.00 4,600 Angel Yeast Co. Ltd. 26,914 0.00 300 Anhui Gujing Distillery Co. Ltd. 4,467 0.00 30,600 Anhui Jianghuai Automobile Group Corp. Ltd. 204,688 0.01 9,360 Anker Innovations Technology Co. Ltd. 146,620 0.00 126,000 BAIC BluePark New Energy Technology Co. Ltd. 130,438 0.00 43,700 Baiyin Nonferrous Group Co. Ltd. 51,377 0.00 195,300 Bank of China Ltd. (Class A) 165,985 0.01

SSGA SPDR ETFs Europe I plc Annual Report and Audited Financial Statements 2026

State Street SPDR MSCI All Country World Investable Market UCITS ETF

Schedule of Investments as at 31 March 2026 (continued)

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% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Common Stock - 97.50% (March 2025: 96.66%) (continued) Yuan Renminbi - 0.29% (continued) 5,700 Beijing Compass Technology Development Co. Ltd. 80,284 0.00 29,000 Beijing Enlight Media Co. Ltd. 64,578 0.00 294 Beijing Kingsoft Office Software, Inc. 9,942 0.00 4,600 Beijing Tong Ren Tang Co. Ltd. 18,502 0.00 1,100 Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. 6,331 0.00 2,279 Bestechnic Shanghai Co. Ltd. 57,972 0.00 37,000 Bluefocus Intelligent Communications Group Co. Ltd. 79,285 0.00 35,000 BOC International China Co. Ltd. 61,875 0.00 31,500 BYD Co. Ltd. (Class A) 480,023 0.01 1,294 Cambricon Technologies Corp. Ltd. 184,169 0.01 8,100 Capital Securities Co. Ltd. 19,022 0.00 36,300 Changjiang Securities Co. Ltd. 36,055 0.00 37,200 Chengtun Mining Group Co. Ltd. 68,242 0.00 24,600 Chifeng Jilong Gold Mining Co. Ltd. 153,690 0.01 380,300 China Eastern Airlines Corp. Ltd. 234,015 0.01 76,000 China Energy Engineering Corp. Ltd. 31,911 0.00 11,100 China Galaxy Securities Co. Ltd. (Class A) 20,475 0.00 6,700 China Great Wall Securities Co. Ltd. 8,624 0.00 77,700 China Merchants Bank Co. Ltd. (Class A) 442,348 0.01 5,980 China National Software & Service Co. Ltd. 31,395 0.00 16,500 China Northern Rare Earth Group High Tech Co. Ltd. 113,907 0.00 20,500 China Pacific Insurance Group Co. Ltd. (Class A) 110,088 0.00 13,800 China Rare Earth Resources & Technology Co. Ltd. 95,887 0.00 1,200 China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. 4,854 0.00 191,400 China Southern Airlines Co. Ltd. 156,574 0.01 27,300 China Three Gorges Renewables Group Co. Ltd. 16,838 0.00 10,800 China Tungsten & Hightech Materials Co. Ltd. 74,604 0.00 72,800 China United Network Communications Ltd. 46,905 0.00 63,800 China Vanke Co. Ltd. 36,857 0.00 162,000 China XD Electric Co. Ltd. 356,758 0.01 105,300 China Yangtze Power Co. Ltd. 412,254 0.01 2,399 CICT Mobile Communication Technology Co. Ltd. 5,182 0.00 83,300 CMOC Group Ltd. (Class A) 206,842 0.01 47,000 CNPC Capital Co. Ltd. 69,411 0.00

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Common Stock - 97.50% (March 2025: 96.66%) (continued) Yuan Renminbi - 0.29% (continued) 7,320 Contemporary Amperex Technology Co. Ltd. (Class A) 425,738 0.01 14,590 COSCO SHIPPING Holdings Co. Ltd. (Class A) 31,708 0.00 3,600 CSPC Innovation Pharmaceutical Co. Ltd. 16,554 0.00 19,800 Daqin Railway Co. Ltd. 15,366 0.00 22,600 Dongxing Securities Co. Ltd. 40,313 0.00 263 Dosilicon Co. Ltd. 4,138 0.00 37,600 East Money Information Co. Ltd. 102,837 0.00 2,700 Eastroc Beverage Group Co. Ltd. 80,245 0.00 1,400 Ecovacs Robotics Co. Ltd. 12,369 0.00 5,600 Empyrean Technology Co. Ltd. 65,773 0.00 9,660 Eoptolink Technology, Inc. Ltd. 619,375 0.01 13,300 Foxconn Industrial Internet Co. Ltd. 99,095 0.00 1,400 Ganfeng Lithium Group Co. Ltd. (Class A) 15,888 0.00 10,227 Geovis Technology Co. Ltd. 90,325 0.00 27,900 Giant Network Group Co. Ltd. 127,408 0.00 3,100 Guangdong Haid Group Co. Ltd. 22,357 0.00 26,600 Guangzhou Automobile Group Co. Ltd. 27,691 0.00 34,200 Guoyuan Securities Co. Ltd. 37,980 0.00 684,600 Hainan Airlines Holding Co. Ltd. 143,726 0.00 338,500 Hainan Airport Infrastructure Co. Ltd. 177,418 0.01 3,900 Haisco Pharmaceutical Group Co. Ltd. 30,650 0.00 800 Hebei Changshan Biochemical Pharmaceutical Co. Ltd. 4,330 0.00 2,200 Henan Shenhuo Coal Industry & Electricity Power Co. Ltd. 9,811 0.00 2,400 Hithink RoyalFlush Information Network Co. Ltd. 103,725 0.00 2,125 Hua Hong Semiconductor Ltd. (Class A) 32,582 0.00 12,800 Hunan Valin Steel Co. Ltd. 9,396 0.00 8,300 Hundsun Technologies, Inc. 30,680 0.00 4,717 Hwatsing Technology Co. Ltd. 118,835 0.00 878 Hygon Information Technology Co. Ltd. 26,729 0.00 600 Iflytek Co. Ltd. 4,014 0.00 401,700 Industrial & Commercial Bank of China Ltd. (Class A) 444,349 0.01 41,200 Industrial Bank Co. Ltd. 112,265 0.00 1,300 Ingenic Semiconductor Co. Ltd. 19,632 0.00 147,100 Inner Mongolia BaoTou Steel Union Co. Ltd. 53,458 0.00 17,700 Inner Mongolia Xingye Silver&Tin Mining Co. Ltd. 103,073 0.00 6,700 Isoftstone Information Technology Group Co. Ltd. 35,796 0.00

SSGA SPDR ETFs Europe I plc Annual Report and Audited Financial Statements 2026

State Street SPDR MSCI All Country World Investable Market UCITS ETF

Schedule of Investments as at 31 March 2026 (continued)

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% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Common Stock - 97.50% (March 2025: 96.66%) (continued) Yuan Renminbi - 0.29% (continued) 3,924 JA Solar Technology Co. Ltd. 6,193 0.00 7,400 Jiangsu Hoperun Software Co. Ltd. 41,550 0.00 700 Jiangxi Copper Co. Ltd. (Class A) 4,358 0.00 35,800 Jinduicheng Molybdenum Co. Ltd. 96,411 0.00 48,000 Kingnet Network Co. Ltd. 123,011 0.00 26,600 Kuang-Chi Technologies Co. Ltd. 147,814 0.00 6,400 Kunlun Tech Co. Ltd. 45,405 0.00 900 Kweichow Moutai Co. Ltd. 188,947 0.01 12,900 Leo Group Co. Ltd. 14,587 0.00 43,100 Lingyi iTech Guangdong Co. 80,063 0.00 1,721 Maxscend Microelectronics Co. Ltd. 19,867 0.00 10,000 Midea Group Co. Ltd. (Class A) 110,545 0.00 540 NAURA Technology Group Co. Ltd. 34,949 0.00 29,500 New China Life Insurance Co. Ltd. (Class A) 262,808 0.01 23,600 New Hope Liuhe Co. Ltd. 28,019 0.00 5,460 Ningbo Deye Technology Co. Ltd. 103,924 0.00 6,000 Ningbo Sanxing Medical Electric Co. Ltd. 22,778 0.00 52,500 OFILM Group Co. Ltd. 65,675 0.00 2,025 Pharmaron Beijing Co. Ltd. 8,204 0.00 1,800 Ping An Insurance Group Co. of China Ltd. (Class A) 14,798 0.00 8,400 Range Intelligent Computing Technology Group Co. Ltd. 98,270 0.00 5,000 Rockchip Electronics Co. Ltd. 110,205 0.00 300 Sangfor Technologies, Inc. 4,418 0.00 900 Seres Group Co. Ltd. 11,836 0.00 23,100 Shandong Gold Mining Co. Ltd. (Class A) 134,619 0.00 11,739 Shanghai Allist Pharmaceuticals Co. Ltd. 163,167 0.01 2,919 Shanghai Baosight Software Co. Ltd. 9,721 0.00 38,300 Shanghai Electric Power Co. Ltd. 101,202 0.00 1,100 Shanghai International Airport Co. Ltd. 4,399 0.00 42,500 Shanghai Stonehill Technology Co. Ltd. 55,504 0.00 20,000 Shanghai Zhangjiang High-Tech Park Development Co. Ltd. 98,600 0.00 16,200 Shanjin International Gold Co. Ltd. 69,616 0.00 1,300 Shannon Semiconductor Technology Co. Ltd. 23,646 0.00 300 Shanxi Xinghuacun Fen Wine Factory Co. Ltd. 6,214 0.00 1,142 Shengyi Electronics Co. Ltd. 13,833 0.00 1,600 Shengyi Technology Co. Ltd. 12,549 0.00 500 Shennan Circuits Co. Ltd. 15,891 0.00

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Common Stock - 97.50% (March 2025: 96.66%) (continued) Yuan Renminbi - 0.29% (continued) 1,400 Shenzhen Envicool Technology Co. Ltd. 17,098 0.00 5,000 Shenzhen Goodix Technology Co. Ltd. 47,707 0.00 3,500 Shenzhen Kinwong Electronic Co. Ltd. 28,571 0.00 300 Shenzhen Megmeet Electrical Co. Ltd. 4,222 0.00 900 Shenzhen New Industries Biomedical Engineering Co. Ltd. 6,394 0.00 13,900 Shenzhen Salubris Pharmaceuticals Co. Ltd. 123,389 0.00 21,700 Sichuan Changhong Electric Co. Ltd. 27,240 0.00 39,500 Sinolink Securities Co. Ltd. 47,926 0.00 3,300 Sinomine Resource Group Co. Ltd. 35,500 0.00 29,500 Spring Airlines Co. Ltd. 197,330 0.01 1,740 SUPCON Technology Co. Ltd. 16,237 0.00 13,200 Suzhou Dongshan Precision Manufacturing Co. Ltd. 197,426 0.01 800 Suzhou Maxwell Technologies Co. Ltd. 26,490 0.00 4,312 Suzhou TFC Optical Communication Co. Ltd. 188,295 0.01 97,600 Tianfeng Securities Co. Ltd. 52,285 0.00 3,100 Tianqi Lithium Corp. 24,902 0.00 2,400 Tsingtao Brewery Co. Ltd. (Class A) 21,496 0.00 4,504 Verisilicon Microelectronics Shanghai Co. Ltd. 131,924 0.00 10,200 Victory Giant Technology Huizhou Co. Ltd. 370,683 0.01 37,500 Western Securities Co. Ltd. 39,527 0.00 18,872 Western Superconducting Technologies Co. Ltd. 193,756 0.01 125,000 Wintime Energy Group Co. Ltd. 32,577 0.00 6,895 Wuhan Guide Infrared Co. Ltd. 12,668 0.00 1,300 Wuliangye Yibin Co. Ltd. 19,438 0.00 9,300 WUS Printed Circuit Kunshan Co. Ltd. 102,295 0.00 1,320 WuXi AppTec Co. Ltd. (Class A) 18,749 0.00 23,900 Xiamen Tungsten Co. Ltd. 192,468 0.01 10,920 Yankuang Energy Group Co. Ltd. (Class A) 30,594 0.00 2,400 Yantai Jereh Oilfield Services Group Co. Ltd. 33,637 0.00 122,100 Yonghui Superstores Co. Ltd. 66,648 0.00 91 Yuanjie Semiconductor Technology Co. Ltd. 13,247 0.00 5,700 Yunnan Aluminium Co. Ltd. 25,584 0.00 2,100 Yunnan Tin Co. Ltd. 9,596 0.00 54,000 Yutong Bus Co. Ltd. 280,371 0.01 600 Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. 13,126 0.00

SSGA SPDR ETFs Europe I plc Annual Report and Audited Financial Statements 2026

State Street SPDR MSCI All Country World Investable Market UCITS ETF

Schedule of Investments as at 31 March 2026 (continued)

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% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Common Stock - 97.50% (March 2025: 96.66%) (continued) Yuan Renminbi - 0.29% (continued) 58,400 Zhejiang Century Huatong Group Co. Ltd. 134,951 0.00 18,900 Zhejiang China Commodities City Group Co. Ltd. 35,410 0.00 19,000 Zhejiang Wanfeng Auto Wheel Co. Ltd. 38,706 0.00 74,400 Zhejiang Weiming Environment Protection Co. Ltd. 270,273 0.01 3,300 Zhongji Innolight Co. Ltd. 272,062 0.01 10,700 Zhongjin Gold Corp. Ltd. 41,380 0.00 117,400 Zijin Mining Group Co. Ltd. (Class A) 556,174 0.01 14,853,499 0.29 Total Common Stock 5,024,685,920 97.50 Depository Receipts - 0.28% (March 2025: 0.36%) Euro - 0.00% 1,356 Koninklijke Heijmans NV 119,678 0.00 1,218 SES SA 8,582 0.00 128,260 0.00 Thailand Baht - 0.13% 59,700 Airports of Thailand PCL 94,130 0.00 144,800 Bangkok Dusit Medical Services PCL 82,542 0.00 20,600 Bumrungrad Hospital PCL 101,813 0.00 185,200 Cal-Comp Electronics Thailand PCL 27,179 0.00 415,500 Central Pattana PCL 784,259 0.02 151,100 Chularat Hospital PCL 6,460 0.00 152,200 Delta Electronics Thailand PCL 1,195,267 0.02 1,247,670 Gulf Development PCL 2,241,498 0.05 98,200 PTT Exploration & Production PCL 480,876 0.01 830,000 PTT PCL 880,837 0.02 52,000 Siam Cement PCL 326,380 0.01 342,300 True Corp. PCL 149,458 0.00 774,606 VGI PCL 21,843 0.00 6,392,542 0.13 United States Dollar - 0.15% 1,100 Cia de Minas Buenaventura SAA 39,644 0.00 983 Daqo New Energy Corp. 20,908 0.00 1,967 Futu Holdings Ltd. 269,007 0.01 3,100 H World Group Ltd. 155,899 0.01 4,783 iQIYI, Inc. 6,457 0.00 436 JinkoSolar Holding Co. Ltd. 11,079 0.00 8,455 Kanzhun Ltd. 113,213 0.00 400 Legend Biotech Corp. 7,236 0.00 6,846 Melco Resorts & Entertainment Ltd. 38,885 0.00 2,794 MMC Norilsk Nickel PJSC (Class A) - 4 MMC Norilsk Nickel PJSC (Class H) - -

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Depository Receipts - 0.28% (March 2025: 0.36%) (continued) United States Dollar - 0.15% (continued) 34,772 PDD Holdings, Inc. 3,553,003 0.07 10,200 Qfin Holdings, Inc. 131,682 0.00 6,522 RLX Technology, Inc. 14,348 0.00 18,704 Sea Ltd. 1,548,879 0.03 12,062 TAL Education Group 137,145 0.00 16,425 Tencent Music Entertainment Group 152,424 0.00 42,739 Teva Pharmaceutical Industries Ltd. 1,287,299 0.03 24,133 Tuya, Inc. 55,747 0.00 7,176 Up Fintech Holding Ltd. 45,209 0.00 8,042 Vipshop Holdings Ltd. 126,420 0.00 8,584 Vnet Group, Inc. 72,020 0.00 7,786,504 0.15 Total Depository Receipts 14,307,306 0.28 Real Estate Investment Trust - 1.81% (March 2025: 2.23%) Australian Dollar - 0.14% 89,768 Centuria Capital Group 97,449 0.00 1,073,128 Centuria Industrial REIT 2,116,758 0.04 48,545 Charter Hall Group 619,419 0.01 50,000 Cromwell Property Group 13,527 0.00 88,197 Dexus 357,604 0.01 9,259 DigiCo Infrastructure REIT 10,971 0.00 28,385 Goodman Group 496,520 0.01 24,331 HMC Capital Ltd. 38,994 0.00 119,718 Mirvac Group 145,131 0.00 1,506,268 National Storage REIT 2,857,652 0.06 66,969 Scentre Group 152,279 0.01 50,443 Stockland 148,904 0.00 7,055,208 0.14 Canadian Dollar - 0.04% 1,600 Allied Properties Real Estate Investment Trust 10,525 0.00 2,046 Dream Industrial Real Estate Investment Trust 18,135 0.00 228,846 InterRent Real Estate Investment Trust 2,174,410 0.04 2,900 SmartCentres Real Estate Investment Trust 55,359 0.00 15,744 Vital Infrastructure Property Trust 59,567 0.00 2,317,996 0.04 Euro - 0.05% 3,400 Aedifica SA 272,069 0.01 7,661 Covivio SA 452,384 0.01 1,521 Gecina SA 118,819 0.00 316,377 Irish Residential Properties REIT PLC 368,904 0.01

SSGA SPDR ETFs Europe I plc Annual Report and Audited Financial Statements 2026

State Street SPDR MSCI All Country World Investable Market UCITS ETF

Schedule of Investments as at 31 March 2026 (continued)

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% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Real Estate Investment Trust - 1.81% (March 2025: 2.23%) (continued) Euro - 0.05% (continued) 2,344 Klepierre SA 87,558 0.00 26,739 Merlin Properties Socimi SA 428,857 0.01 2,242 Unibail-Rodamco-Westfield 245,149 0.00 2,316 Vastned NV 77,119 0.00 11,428 Warehouses De Pauw CVA 293,895 0.01 190 Wereldhave NV 4,652 0.00 2,349,406 0.05 Hong Kong Dollar - 0.00% 36,497 Link REIT 167,677 0.00 167,677 0.00 Indian Rupee - 0.00% 17,060 Brookfield India Real Estate Trust 58,221 0.00 28,173 Embassy Office Parks REIT 124,839 0.00 8,152 Nexus Select Trust 12,960 0.00 196,020 0.00 Israeli New Shekel - 0.05% 371,109 Reit 1 Ltd. 2,638,606 0.05 22,045 Sella Capital Real Estate Ltd. 70,516 0.00 2,709,122 0.05 Japanese Yen - 0.04% 129 Comforia Residential REIT, Inc. 87,735 0.00 140 Daiwa House REIT Investment Corp. 109,737 0.00 502 GLP J-Reit 408,630 0.01 91 Hankyu Hanshin REIT, Inc. 83,398 0.00 158 Hoshino Resorts REIT, Inc. 240,342 0.01 133 Ichigo Office REIT Investment Corp. 76,913 0.00 123 Japan Metropolitan Fund Invest 85,820 0.00 355 Japan Real Estate Investment Corp. 259,963 0.01 200 KDX Realty Investment Corp. 201,898 0.00 24 Mitsubishi Estate Logistics REIT Investment Corp. 18,752 0.00 220 Mori Trust Reit, Inc. 98,598 0.00 306 Nippon Prologis REIT, Inc. 163,877 0.00 116 NIPPON REIT Investment Corp. 64,675 0.00 266 Nomura Real Estate Master Fund, Inc. 261,168 0.01 173 Sekisui House Reit, Inc. 97,434 0.00 2,258,940 0.04 Malaysian Ringgit - 0.00% 66,972 Axis Real Estate Investment Trust 31,757 0.00 6,700 IGB Real Estate Investment Trust 4,567 0.00 9,900 Pavilion Real Estate Investment Trust 4,230 0.00 7,500 Sunway Real Estate Investment Trust 4,279 0.00 44,833 0.00

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Real Estate Investment Trust - 1.81% (March 2025: 2.23%) (continued) Mexican Peso - 0.00% 18,014 FIBRA Macquarie Mexico 41,377 0.00 15,200 Fibra Uno Administracion SA de CV 24,576 0.00 11,277 Prologis Property Mexico SA de CV 48,923 0.00 114,876 0.00 Philippines Peso - 0.00% 77,100 AREIT, Inc. 50,131 0.00 1,112,200 Real Commercial REIT, Inc. 121,381 0.00 171,512 0.00 Pound Sterling - 0.02% 18,500 British Land Co. PLC 86,703 0.00 1,053 Hammerson PLC 4,091 0.00 12,114 Land Securities Group PLC 88,340 0.00 177,281 LondonMetric Property PLC 424,311 0.01 92,765 Primary Health Properties PLC 111,136 0.01 23,482 Tritax Big Box REIT PLC 43,755 0.00 6,526 UNITE Group PLC 39,157 0.00 797,493 0.02 Saudi Riyal - 0.00% 39,517 Jadwa REIT Saudi Fund 118,258 0.00 118,258 0.00 Singapore Dollar - 0.06% 47,516 CapitaLand Ascendas REIT 90,969 0.00 1,558,871 CapitaLand Integrated Commercial Trust 2,766,980 0.06 22,902 Keppel REIT 15,799 0.00 25,761 Mapletree Industrial Trust 38,737 0.00 2,912,485 0.06 South African Rand - 0.02% 200,470 Equites Property Fund Ltd. 197,337 0.01 87,567 Growthpoint Properties Ltd. 82,720 0.00 98,247 Hyprop Investments Ltd. 308,330 0.01 91,039 Redefine Properties Ltd. 31,645 0.00 19,920 Resilient REIT Ltd. 92,155 0.00 57,969 Vukile Property Fund Ltd. 74,842 0.00 787,029 0.02 Turkish Lira - 0.01% 448,467 Peker Gayrimenkul Yatirim Ortakligi AS 144,179 0.01 8,482 Reysas Gayrimenkul Yatirim Ortakligi AS 5,576 0.00 338,262 Tera Yatirim Teknoloji Holding AS 133,084 0.00 129,213 Ziraat Gayrimenkul Yatirim Ortakligi AS 66,466 0.00 349,305 0.01

SSGA SPDR ETFs Europe I plc Annual Report and Audited Financial Statements 2026

State Street SPDR MSCI All Country World Investable Market UCITS ETF

Schedule of Investments as at 31 March 2026 (continued)

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% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Real Estate Investment Trust - 1.81% (March 2025: 2.23%) (continued) United States Dollar - 1.38% 37,432 Agree Realty Corp. 2,821,625 0.06 11,062 AH Realty Trust, Inc. 60,841 0.00 500 Alexandria Real Estate Equities, Inc. 23,210 0.00 14,000 American Healthcare REIT, Inc. 660,240 0.01 10,200 American Homes 4 Rent 284,784 0.01 20,053 American Tower Corp. 3,460,747 0.07 3,600 Americold Realty Trust, Inc. 41,256 0.00 3,228 Annaly Capital Management, Inc. 68,272 0.00 2,700 Apartment Investment & Management Co. 10,989 0.00 8,885 Apollo Commercial Real Estate Finance, Inc. 93,826 0.00 2,700 Apple Hospitality REIT, Inc. 31,077 0.00 2,023 AvalonBay Communities, Inc. 330,457 0.01 2,000 Blackstone Mortgage Trust, Inc. 38,300 0.00 4,500 Brandywine Realty Trust 12,195 0.00 2,498 BrightSpire Capital, Inc. 13,989 0.00 1,300 BSR Real Estate Investment Trust 14,352 0.00 34,068 BXP, Inc. 1,768,129 0.04 25,920 Camden Property Trust 2,531,348 0.05 8,158 CareTrust REIT, Inc. 298,991 0.01 278 Centerspace 15,971 0.00 6,800 Cousins Properties, Inc. 153,476 0.00 24,115 Crown Castle, Inc. 1,960,791 0.04 66,208 CubeSmart 2,426,524 0.05 15,893 Digital Realty Trust, Inc. 2,864,078 0.06 12,000 Diversified Healthcare Trust 79,680 0.00 200,517 Dynex Capital, Inc. 2,558,597 0.05 2,300 EPR Properties 114,908 0.00 4,201 Equinix, Inc. 4,117,989 0.08 5,600 Equity LifeStyle Properties, Inc. 349,552 0.01 32,557 Equity Residential 1,925,747 0.04 1,900 Essential Properties Realty Trust, Inc. 57,684 0.00 600 Essex Property Trust, Inc. 145,200 0.00 1,700 Extra Space Storage, Inc. 222,921 0.01 5,215 Four Corners Property Trust, Inc. 123,335 0.00 3,000 Gaming & Leisure Properties, Inc. 133,110 0.00 10,874 Gladstone Commercial Corp. 124,290 0.00 35,600 Healthcare Realty Trust, Inc. 604,844 0.01 160,146 Healthpeak Properties, Inc. 2,631,199 0.05 2,800 Host Hotels & Resorts, Inc. 53,648 0.00 2,256 Hudson Pacific Properties, Inc. 13,333 0.00 139,553 Independence Realty Trust, Inc. 2,077,944 0.04

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Real Estate Investment Trust - 1.81% (March 2025: 2.23%) (continued) United States Dollar - 1.38% (continued) 218 Innovative Industrial Properties, Inc. 10,935 0.00 1,400 Invitation Homes, Inc. 34,790 0.00 2,000 Iron Mountain, Inc. 204,280 0.00 2,717 JBG SMITH Properties 39,695 0.00 1,200 Kilroy Realty Corp. 33,852 0.00 30,200 Kimco Realty Corp. 678,594 0.01 118,051 Kite Realty Group Trust 2,898,152 0.06 1,700 Lamar Advertising Co. 215,322 0.00 21,200 Macerich Co. 400,680 0.01 7,000 Medical Properties Trust, Inc. 32,410 0.00 1,100 Mid-America Apartment Communities, Inc. 134,332 0.00 5,700 Millrose Properties, Inc. 159,600 0.00 77,460 National Storage Affiliates Trust 2,923,341 0.06 2,900 Omega Healthcare Investors, Inc. 127,078 0.00 1,400 Pebblebrook Hotel Trust 17,682 0.00 12,900 Phillips Edison & Co., Inc. 482,718 0.01 40,774 Prologis, Inc. 5,389,508 0.11 11,864 Public Storage 3,213,721 0.06 14,410 Rayonier, Inc. 297,134 0.01 9,311 Realty Income Corp. 569,647 0.01 2,900 Regency Centers Corp. 219,414 0.01 65,150 Rexford Industrial Realty, Inc. 2,132,360 0.04 22,200 Rithm Capital Corp. 210,456 0.00 21,321 Ryman Hospitality Properties, Inc. 1,967,289 0.04 2,600 Sabra Health Care REIT, Inc. 49,998 0.00 9,810 SBA Communications Corp. 1,688,399 0.03 15,914 Simon Property Group, Inc. 2,968,438 0.06 1,100 SL Green Realty Corp. 40,634 0.00 600 Sun Communities, Inc. 75,576 0.00 3,400 Tanger, Inc. 115,532 0.00 4,300 Terreno Realty Corp. 264,106 0.01 4,600 TPG RE Finance Trust, Inc. 35,926 0.00 3,700 UDR, Inc. 124,986 0.00 153,295 UMH Properties, Inc. 2,212,047 0.04 1,400 Ventas, Inc. 114,492 0.00 13,281 VICI Properties, Inc. 362,837 0.01 4,356 Vornado Realty Trust 113,212 0.00 21,943 Welltower, Inc. 4,338,351 0.08 11,599 Weyerhaeuser Co. 283,364 0.01 6,800 WP Carey, Inc. 462,128 0.01 70,962,465 1.38 Total Real Estate Investment Trust 93,312,625 1.81

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Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Preferred Stock - 0.30% (March 2025: 0.33%) Brazilian Real - 0.15% 66,664 Axia Energia (Class C) 723,077 0.01 2,941 Banco ABC Brasil SA 14,305 0.00 36,031 Banco Bradesco SA 132,271 0.00 27,165 Banco do Estado do Rio Grande do Sul SA 89,736 0.00 368,400 Cia Energetica de Minas Gerais 889,615 0.02 5,880 Gerdau SA 21,394 0.00 25,011 Itau Unibanco Holding SA 208,256 0.00 1,279,884 Itausa SA 3,426,460 0.07 1 Klabin SA 1 1 Localiza Rent a Car SA 8 8,052 Marcopolo SA 9,560 0.00 251,870 Petroleo Brasileiro SA - Petrobras 2,347,497 0.05 7,862,180 0.15 Chilean Peso - 0.00% 10,504 Embotelladora Andina SA 44,029 0.00 2,770 Sociedad Quimica y Minera de Chile SA 222,351 0.00 266,380 0.00 Colombian Peso - 0.01% 41,655 Grupo Cibest SA 768,549 0.01 768,549 0.01 Euro - 0.11% 4,878 Bayerische Motoren Werke AG 437,551 0.01 654 Dr. Ing hc F Porsche AG 29,185 0.00 31,176 Henkel AG & Co. KGaA 2,381,561 0.05 2,453 Porsche Automobil Holding SE 87,786 0.00 392 Sartorius AG 95,707 0.00 5,347 STO SE & Co. KGaA 667,832 0.01 621,714 Telecom Italia SpA 505,556 0.01 13,008 Volkswagen AG 1,294,947 0.03 5,500,125 0.11 South Korean Won - 0.03% 3,126 Hyundai Motor Co. (Class A) 474,518 0.01 12,031 Samsung Electronics Co. Ltd. 895,462 0.02 1,369,980 0.03 Total Preferred Stock 15,767,214 0.30 Rights - 0.00% (March 2025: 0.00%) Euro - 0.00% 768,214 Telecom Italia SpA 7 7 0.00 Singapore Dollar - 0.00% 1,330 CapitaLand Ascendas REIT 124 0.00 124 0.00

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.89% (March 2025: 99.58%) (continued) Rights - 0.00% (March 2025: 0.00%) (continued) South Korean Won - 0.00% 342 Lunit, Inc. 1,317 0.00 1,317 0.00 Total Rights 1,448 0.00 Warrants - 0.00% (March 2025: 0.00%) Canadian Dollar - 0.00% 406 Constellation Software, Inc. - - Malaysian Ringgit - 0.00% 1,952 Supermax Corp. Bhd. 39 0.00 39 0.00 Total Warrants 39 0.00 Total Transferable Securities 5,148,074,552 99.89

Financial Derivative Instruments - (0.00%) (March 2025: (0.00%)) Futures Contracts – (0.00%) (March 2025: (0.00%))

Notional Amount

Average Cost Price

Unrealised Loss USD

% of Net Assets 18,944,171 6,647 57 of S&P 500 E-mini Index Futures Long Futures Contracts Expiring 18 June 2026 (217,533) (0.00) Net Unrealised Loss on Futures Contracts (217,533) (0.00) Total Financial Derivative Instruments (217,533) (0.00)

Fair Value USD % of Fund Total value of investments 5,147,857,019 99.89 Cash at bank* (March 2025: 0.20%) 14,941,143 0.29 Cash at broker* (March 2025: 0.02%) 1,990,472 0.04 Other net liabilities (March 2025: 0.20%) (11,137,255) (0.22) Net assets attributable to holders of redeemable participating shares 5,153,651,379 100.00

*All cash holdings are held at State Street Bank and Trust Company, apart from cash at broker which is held with Barclays Capital.

The broker for the open futures contracts is Barclays Capital.

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All of the above securities are traded on a recognised stock exchange or traded on a regulated market unless otherwise stated.

Analysis of Total Assets (unaudited)

% of Total Assets Transferable securities admitted to an official exchange listing 99.42 Other transferable securities of the type referred to in Regulation 68(1)(a), (b) and (c) 0.09 Other assets 0.49 Total Assets 100.00

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State Street SPDR MSCI EM Asia UCITS ETF

Statement of Financial Position as at 31 March 2026

Notes 2026 USD 2025 USD

Current assets Financial assets at fair value through profit or loss: 1(e),12 Transferable securities 1,321,630,749 880,648,257 Financial derivative instruments - 80,466 1,321,630,749 880,728,723

Cash and cash equivalents 1(f) 11,170,064 959,795 Cash held with brokers and counterparties for open financial derivative instruments 1(g) 393,008 116,219 Debtors: Dividends receivable 2,733,001 2,100,621 Receivable for investments sold - 1,049,606 Securities lending income receivable 39,401 6,554 Total current assets 1,335,966,223 884,961,518

Current liabilities Financial liabilities at fair value through profit or loss: 1(e) Financial derivative instruments (167,310) Creditors - Amounts falling due within one year: Accrued expenses (661,688) (421,915) Payable for investment purchased (10,041,506) (1,049,606) Capital gains tax accrual (7,706,177) (10,548,754) Total current liabilities (18,576,681) (12,020,275)

Net assets attributable to holders of redeemable participating shares 1,317,389,542 872,941,243

31 March 2026

31 March 2025

31 March 2024

Net asset value per share 5 USD 100.75 USD 78.28 USD 71.76

The accompanying notes form an integral part of these financial statements.

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State Street SPDR MSCI EM Asia UCITS ETF

Statement of Comprehensive Income for the financial year ended

31 March 2026

Notes

2026 USD

2025 USD

Dividend income 24,511,425 20,858,575 Income from financial assets at fair value 1,211 1,465 Securities lending income 13 213,768 85,800 Net changes in fair value of financial assets and financial liabilities at fair value through profit or loss 9 249,783,490 70,658,241 Bank interest income 24,186 36,479 Miscellaneous income - 7,255 Total investment income 274,534,080 91,647,815

Operating expenses 3 (6,462,847) (4,853,066) Net profit for the financial year before finance costs and tax 268,071,233 86,794,749

Profit for the financial year before tax 268,071,233 86,794,749

Capital gains tax 2 (7,966,597) (10,735,345) Withholding tax on investment income 2 (3,533,132) (2,857,614) Increase in net assets attributable to holders of redeemable participating shares resulting from operations 256,571,504 73,201,790

Gains and losses arose solely from continuing operations. There were no recognised gains or losses other than those dealt with in the Statement of Comprehensive Income.

The accompanying notes form an integral part of these financial statements.

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State Street SPDR MSCI EM Asia UCITS ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable

Participating Shares for the financial year ended 31 March 2026

2026 USD

2025 USD

Net assets attributable to holders of redeemable participating shares at the beginning of the financial year 872,941,243 852,488,393

Increase in net assets attributable to holders of redeemable participating shares resulting from operations 256,571,504 73,201,790

Share transactions Proceeds from redeemable participating shares issued 187,876,795 Costs of redeemable participating shares redeemed - (52,748,940) Increase/(decrease) in net assets from share transactions 187,876,795 (52,748,940)

Total increase in net assets attributable to holders of redeemable participating shares 444,448,299 20,452,850

Net assets attributable to holders of redeemable participating shares at the end of the financial year 1,317,389,542 872,941,243

The accompanying notes form an integral part of these financial statements.

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State Street SPDR MSCI EM Asia UCITS ETF

Statement of Cash Flows for the financial year ended 31 March 2026

Notes 2026 USD 2025 USD

Increase in net assets attributable to holders of redeemable participating shares resulting from operations 256,571,504 73,201,790

Adjustment for: Movement in cash held with/due to broker (276,789) 242,584 Movement in financial assets at fair value through profit or loss (430,940,986) (25,543,424) Unrealised movement on derivative assets and liabilities 247,776 (71,334)

Operating cash flows before movements in working capital (174,398,495) 47,829,616

Movement in receivables (665,227) 889,527 Movement in payables (2,602,804) 1,538,900

Net working capital movement (3,268,031) 2,428,427

Net cash (outflow)/inflow from operating activities (177,666,526) 50,258,043

Financing activities Proceeds from subscriptions 5 187,876,795 Payments for redemptions 5 - (52,748,940)

Net cash generated by/(used in) financing activities 187,876,795 (52,748,940)

Net increase/(decrease) in cash and cash equivalents 10,210,269 (2,490,897)

Cash and cash equivalents at the start of the financial year 959,795 3,450,692

Cash and cash equivalents at the end of the financial year 11,170,064 959,795

Supplementary information Taxation paid (3,793,552) (3,044,205) Interest received 25,397 37,944 Dividend received 23,879,045 21,725,808

The accompanying notes form an integral part of these financial statements.

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Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) Common Stock - 97.80% (March 2025: 97.90%) Hong Kong Dollar - 25.77% 296,000 3SBio, Inc. 854,754 0.06 137,000 AAC Technologies Holdings, Inc. 578,391 0.04 4,563,000 Agricultural Bank of China Ltd. (Class H) 3,241,743 0.25 115,000 Akeso, Inc. 1,909,773 0.14 2,799,492 Alibaba Group Holding Ltd. 42,491,205 3.23 854,000 Alibaba Health Information Technology Ltd. 507,594 0.04 528,000 Aluminum Corp. of China Ltd. (Class H) 757,634 0.06 258,500 Anhui Conch Cement Co. Ltd. (Class H) 698,987 0.05 208,800 ANTA Sports Products Ltd. 2,016,040 0.15 519,000 AviChina Industry & Technology Co. Ltd. 219,775 0.02 372,830 Baidu, Inc. 5,026,419 0.38 11,422,000 Bank of China Ltd. (Class H) 7,240,547 0.55 1,472,800 Bank of Communications Co. Ltd. (Class H) 1,322,481 0.10 79,500 Beijing Enterprises Holdings Ltd. 303,187 0.02 138,788 BeOne Medicines Ltd. 3,037,680 0.23 39,378 Bilibili, Inc. 857,354 0.07 32,900 BOC Aviation Ltd. 324,166 0.02 618,000 Bosideng International Holdings Ltd. 315,298 0.02 603,475 BYD Co. Ltd. (Class H) 8,143,626 0.62 149,500 BYD Electronic International Co. Ltd. 526,288 0.04 101,171 C&D International Investment Group Ltd. 162,721 0.01 1,803,200 CGN Power Co. Ltd. 809,579 0.06 1,480,200 China CITIC Bank Corp. Ltd. (Class H) 1,491,490 0.11 1,476,000 China CITIC Financial Asset Management Co. Ltd. 148,726 0.01 233,000 China Coal Energy Co. Ltd. 392,286 0.03 1,086,800 China Common Rich Renewable Energy Investments Ltd. - 15,574,000 China Construction Bank Corp. (Class H) 16,666,139 1.27 510,000 China Feihe Ltd. 226,372 0.02 530,200 China Galaxy Securities Co. Ltd. (Class H) 534,244 0.04 565,002 China Gas Holdings Ltd. 515,263 0.04 32,900 China Gold International Resources Corp. Ltd. 634,484 0.05 494,500 China Hongqiao Group Ltd. 2,192,396 0.17 510,000 China Huishan Dairy Holdings Co. Ltd. - 244,800 China International Capital Corp. Ltd. (Class H) 536,111 0.04 1,209,945 China Life Insurance Co. Ltd. (Class H) 3,796,414 0.29 69,000 China Literature Ltd. 223,716 0.02

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Hong Kong Dollar - 25.77% (continued) 452,000 China Longyuan Power Group Corp. Ltd. 411,056 0.03 519,000 China Mengniu Dairy Co. Ltd. 1,138,593 0.09 646,213 China Merchants Bank Co. Ltd. (Class H) 4,061,807 0.31 176,327 China Merchants Port Holdings Co. Ltd. 329,255 0.03 807,580 China Minsheng Banking Corp. Ltd. (Class H) 378,028 0.03 561,304 China National Building Material Co. Ltd. 340,783 0.03 160,000 China Nonferrous Mining Corp. Ltd. 234,484 0.02 328,000 China Oilfield Services Ltd. 377,776 0.03 652,353 China Overseas Land & Investment Ltd. 961,031 0.07 439,200 China Pacific Insurance Group Co. Ltd. (Class H) 1,785,885 0.14 3,804,000 China Petroleum & Chemical Corp. (Class H) 2,178,511 0.17 746,000 China Power International Development Ltd. 300,676 0.02 740,000 China Railway Group Ltd. (Class H) 381,317 0.03 301,902 China Resources Beer Holdings Co. Ltd. 987,318 0.07 170,500 China Resources Gas Group Ltd. 413,843 0.03 543,000 China Resources Land Ltd. 1,983,562 0.15 83,200 China Resources Mixc Lifestyle Services Ltd. 499,187 0.04 335,023 China Resources Power Holdings Co. Ltd. 779,849 0.06 1,864,000 China Ruyi Holdings Ltd. 363,756 0.03 544,000 China Shenhua Energy Co. Ltd. (Class H) 3,200,082 0.24 276,000 China State Construction International Holdings Ltd. 293,242 0.02 202,062 China Taiping Insurance Holdings Co. Ltd. 527,822 0.04 691,900 China Tower Corp. Ltd. 942,513 0.07 333,000 Chongqing Rural Commercial Bank Co. Ltd. (Class H) 288,394 0.02 260,200 Chow Tai Fook Jewellery Group Ltd. 361,085 0.03 725,000 CITIC Ltd. 1,093,021 0.08 266,750 CITIC Securities Co. Ltd. (Class H) 809,076 0.06 621,000 CMOC Group Ltd. (Class H) 1,275,235 0.10 17,400 Contemporary Amperex Technology Co. Ltd. (Class H) 1,361,560 0.10 497,200 COSCO SHIPPING Holdings Co. Ltd. (Class H) 944,910 0.07 692,000 CRRC Corp. Ltd. (Class H) 447,494 0.03 1,428,560 CSPC Pharmaceutical Group Ltd. 1,658,108 0.13

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Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Hong Kong Dollar - 25.77% (continued) 142,400 ENN Energy Holdings Ltd. 1,150,613 0.09 336,000 Far East Horizon Ltd. 301,707 0.02 127,600 Fuyao Glass Industry Group Co. Ltd. (Class H) 954,534 0.07 76,600 Ganfeng Lithium Group Co. Ltd. (Class H) 710,779 0.05 3,552,000 GCL Technology Holdings Ltd. 389,623 0.03 162,600 GDS Holdings Ltd. 801,365 0.06 1,070,000 Geely Automobile Holdings Ltd. 2,855,080 0.22 292,000 Genscript Biotech Corp. 407,821 0.03 167,400 GF Securities Co. Ltd. (Class H) 307,461 0.02 45,200 Giant Biogene Holding Co. Ltd. 158,542 0.01 383,500 Great Wall Motor Co. Ltd. 603,606 0.05 508,000 Guangdong Investment Ltd. 506,691 0.04 310,032 Guotai Haitong Securities Co. Ltd. (Class H) 529,097 0.04 315,000 Haidilao International Holding Ltd. 573,334 0.04 396,400 Haier Smart Home Co. Ltd. (Class H) 1,047,602 0.08 98,000 Haitian International Holdings Ltd. 251,494 0.02 244,385 Hansoh Pharmaceutical Group Co. Ltd. 1,105,939 0.08 147,500 Hengan International Group Co. Ltd. 517,366 0.04 18,620 Hesai Group 335,579 0.03 675,600 Horizon Robotics 570,454 0.04 114,000 Hua Hong Semiconductor Ltd. (Class H) 1,129,066 0.09 538,640 Huaneng Power International, Inc. (Class C) 405,344 0.03 148,000 Huaneng Power International, Inc. (Class H) 111,375 0.01 215,200 Huatai Securities Co. Ltd. (Class H) 406,509 0.03 10,550,000 Industrial & Commercial Bank of China Ltd. (Class H) 9,231,014 0.70 238,500 Innovent Biologics, Inc. 2,582,670 0.20 315,000 J&T Global Express Ltd. 406,195 0.03 188,222 JD Health International, Inc. 1,129,783 0.09 247,700 JD Logistics, Inc. 431,252 0.03 395,950 JD.com, Inc. 5,716,887 0.43 252,000 Jiangsu Expressway Co. Ltd. (Class H) 324,313 0.02 217,000 Jiangxi Copper Co. Ltd. (Class H) 943,815 0.07 515,000 Kingdee International Software Group Co. Ltd. 562,938 0.04 178,800 Kingsoft Corp. Ltd. 512,669 0.04 422,300 Kuaishou Technology 2,430,318 0.18 698,000 Kunlun Energy Co. Ltd. 637,443 0.05 4,100 Laopu Gold Co. Ltd. 327,103 0.02 1,196,000 Lenovo Group Ltd. 1,395,806 0.11

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Hong Kong Dollar - 25.77% (continued) 210,166 Li Auto, Inc. 1,814,780 0.14 406,000 Li Ning Co. Ltd. 1,108,186 0.08 256,665 Longfor Group Holdings Ltd. 247,165 0.02 540,000 Meitu, Inc. 295,477 0.02 804,080 Meituan 8,507,237 0.65 49,200 Midea Group Co. Ltd. (Class H) 525,874 0.04 54,200 MINISO Group Holding Ltd. 212,647 0.02 670,400 MMG Ltd. 617,368 0.05 10,550 NetEase Cloud Music, Inc. 173,586 0.01 293,075 NetEase, Inc. 6,373,471 0.48 177,800 New China Life Insurance Co. Ltd. (Class H) 1,049,537 0.08 209,850 New Oriental Education & Technology Group, Inc. 1,166,993 0.09 271,855 NIO, Inc. 1,520,823 0.12 344,600 Nongfu Spring Co. Ltd. 2,062,273 0.16 15,000 Orient Overseas International Ltd. 266,128 0.02 1,707,000 People’s Insurance Co. Group of China Ltd. (Class H) 1,175,710 0.09 3,515,900 PetroChina Co. Ltd. (Class H) 4,820,786 0.37 1,127,307 PICC Property & Casualty Co. Ltd. 2,050,381 0.16 1,097,500 Ping An Insurance Group Co. of China Ltd. (Class H) 8,322,029 0.63 31,200 Pony AI, Inc. 266,029 0.02 91,600 Pop Mart International Group Ltd. 1,677,733 0.13 1,306,000 Postal Savings Bank of China Co. Ltd. (Class H) 817,895 0.06 28,000 Remegen Co. Ltd. 342,134 0.03 4,391,000 SenseTime Group, Inc. 1,030,514 0.08 144,500 Shandong Gold Mining Co. Ltd. (Class H) 596,047 0.05 400,000 Shandong Weigao Group Medical Polymer Co. Ltd. 191,322 0.01 129,400 Shenzhou International Group Holdings Ltd. 772,089 0.06 6,700 Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd. 393,102 0.03 1,894,750 Sino Biopharmaceutical Ltd. 1,423,443 0.11 212,400 Sinopharm Group Co. Ltd. 547,241 0.04 112,000 Sinotruk Hong Kong Ltd. 553,986 0.04 271,000 Smoore International Holdings Ltd. 306,941 0.02 126,100 Sunny Optical Technology Group Co. Ltd. 859,678 0.07 1,039,100 Tencent Holdings Ltd. 64,146,884 4.87 352,000 Tingyi Cayman Islands Holding Corp. 582,761 0.04 226,400 Tongcheng Travel Holdings Ltd. 519,783 0.04

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Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Hong Kong Dollar - 25.77% (continued) 101,603 Trip.com Group Ltd. 4,934,877 0.37 92,000 Tsingtao Brewery Co. Ltd. (Class H) 568,883 0.04 29,350 UBTech Robotics Corp. Ltd. 319,697 0.02 758,000 Want Want China Holdings Ltd. 445,700 0.03 348,600 Weichai Power Co. Ltd. (Class H) 1,214,733 0.09 55,832 WuXi AppTec Co. Ltd. (Class H) 836,746 0.06 592,811 Wuxi Biologics Cayman, Inc. 2,496,699 0.19 43,000 WuXi XDC Cayman, Inc. 319,201 0.02 2,834,000 Xiaomi Corp. 11,480,299 0.87 702,402 Xinyi Solar Holdings Ltd. 260,706 0.02 203,086 XPeng, Inc. 1,695,362 0.13 256,000 XtalPi Holdings Ltd. 294,197 0.02 146,593 Yadea Group Holdings Ltd. 247,743 0.02 64,500 Yangtze Optical Fibre & Cable Joint Stock Ltd. Co. 1,505,510 0.11 610,900 Yankuang Energy Group Co. Ltd. (Class H) 1,135,279 0.09 60,536 Yum China Holdings, Inc. 2,975,763 0.23 280,500 Zhaojin Mining Industry Co. Ltd. 1,135,567 0.09 82,000 Zhejiang Leapmotor Technology Co. Ltd. 491,778 0.04 82,800 Zhuzhou CRRC Times Electric Co. Ltd. (Class H) 384,841 0.03 32,700 Zijin Gold International Co. Ltd. 726,138 0.06 939,000 Zijin Mining Group Co. Ltd. (Class H) 4,115,206 0.31 140,160 ZTE Corp. (Class H) 389,721 0.03 68,304 ZTO Express Cayman, Inc. 1,642,216 0.12 339,530,224 25.77 Indian Rupee - 15.85% 8,615 ABB India Ltd. 539,659 0.04 26,683 Adani Enterprises Ltd. 494,788 0.04 93,188 Adani Ports & Special Economic Zone Ltd. 1,289,617 0.10 484,261 Adani Power Ltd. 768,037 0.06 40,000 Aditya Birla Capital Ltd. 123,249 0.01 5,873 Alkem Laboratories Ltd. 328,112 0.02 106,532 Ambuja Cements Ltd. 450,675 0.03 32,044 APL Apollo Tubes Ltd. 654,402 0.05 16,976 Apollo Hospitals Enterprise Ltd. 1,327,850 0.10 425,988 Ashok Leyland Ltd. 692,234 0.05 54,716 Asian Paints Ltd. 1,249,053 0.09 18,982 Astral Ltd. 320,007 0.02 48,775 AU Small Finance Bank Ltd. 433,350 0.03 44,165 Aurobindo Pharma Ltd. 607,376 0.05 28,708 Avenue Supermarts Ltd. 1,197,610 0.09

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Indian Rupee - 15.85% (continued) 375,045 Axis Bank Ltd. 4,591,940 0.35 10,601 Bajaj Auto Ltd. 981,486 0.07 469,834 Bajaj Finance Ltd. 3,970,484 0.30 66,341 Bajaj Finserv Ltd. 1,141,346 0.09 3,583 Bajaj Holdings & Investment Ltd. 330,388 0.02 15,648 Balkrishna Industries Ltd. 343,650 0.03 128,688 Bank of Baroda 335,936 0.03 614,608 Bharat Electronics Ltd. 2,596,162 0.20 44,411 Bharat Forge Ltd. 784,097 0.06 171,885 Bharat Heavy Electricals Ltd. 444,895 0.03 204,743 Bharat Petroleum Corp. Ltd. 606,574 0.05 421,414 Bharti Airtel Ltd. 7,919,222 0.60 723 Bosch Ltd. 219,113 0.02 17,859 Britannia Industries Ltd. 1,021,093 0.08 33,873 BSE Ltd. 958,349 0.07 252,832 Canara Bank 329,072 0.02 98,531 CG Power & Industrial Solutions Ltd. 680,481 0.05 70,118 Cholamandalam Investment & Finance Co. Ltd. 1,001,477 0.08 92,829 Cipla Ltd. 1,198,131 0.09 316,938 Coal India Ltd. 1,505,183 0.11 23,401 Colgate-Palmolive India Ltd. 441,306 0.03 16,388 Coromandel International Ltd. 329,976 0.02 22,126 Cummins India Ltd. 1,049,768 0.08 76,482 Dabur India Ltd. 330,969 0.03 20,457 Divi’s Laboratories Ltd. 1,282,650 0.10 5,865 Dixon Technologies India Ltd. 598,133 0.05 124,146 DLF Ltd. 659,808 0.05 98,549 Dr. Reddy’s Laboratories Ltd. 1,303,856 0.10 23,214 Eicher Motors Ltd. 1,611,907 0.12 463,466 Eternal Ltd. 1,118,881 0.08 79,054 Fortis Healthcare Ltd. 662,612 0.05 140,117 FSN E-Commerce Ventures Ltd. 347,158 0.03 390,619 GAIL India Ltd. 567,136 0.04 16,222 GE Vernova T&D India Ltd. 622,618 0.05 315,814 GMR Airports Ltd. 282,189 0.02 65,694 Godrej Consumer Products Ltd. 682,091 0.05 22,651 Godrej Properties Ltd. 351,364 0.03 42,819 Grasim Industries Ltd. 1,154,661 0.09 45,432 Havells India Ltd. 570,290 0.04 151,953 HCL Technologies Ltd. 2,149,318 0.16 34,270 HDFC Asset Management Co. Ltd. 800,812 0.06 1,863,516 HDFC Bank Ltd. 14,372,937 1.09 141,764 HDFC Life Insurance Co. Ltd. 882,730 0.07

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Indian Rupee - 15.85% (continued) 19,662 Hero MotoCorp Ltd. 1,049,552 0.08 228,825 Hindalco Industries Ltd. 2,133,758 0.16 34,650 Hindustan Aeronautics Ltd. 1,273,939 0.10 144,920 Hindustan Petroleum Corp. Ltd. 512,460 0.04 140,962 Hindustan Unilever Ltd. 3,054,390 0.23 1,914 Hitachi Energy India Ltd. 489,050 0.04 19,411 Hyundai Motor India Ltd. 363,872 0.03 862,789 ICICI Bank Ltd. 10,969,436 0.83 39,352 ICICI Lombard General Insurance Co. Ltd. 709,714 0.05 70,775 ICICI Prudential Life Insurance Co. Ltd. 380,220 0.03 579,707 IDFC First Bank Ltd. 359,686 0.03 143,600 Indian Hotels Co. Ltd. 864,412 0.07 453,659 Indian Oil Corp. Ltd. 647,615 0.05 214,644 Indus Towers Ltd. 946,279 0.07 83,904 IndusInd Bank Ltd. 665,624 0.05 63,492 Info Edge India Ltd. 647,781 0.05 533,769 Infosys Ltd. 7,037,853 0.53 32,564 InterGlobe Aviation Ltd. 1,353,904 0.10 509,616 ITC Ltd. 1,545,793 0.12 47,136 Jindal Stainless Ltd. 353,313 0.03 70,092 Jindal Steel Ltd. 822,567 0.06 506,341 Jio Financial Services Ltd. 1,196,336 0.09 70,680 JSW Energy Ltd. 351,430 0.03 103,714 JSW Steel Ltd. 1,227,417 0.09 52,128 Jubilant Foodworks Ltd. 238,577 0.02 67,982 Kalyan Jewellers India Ltd. 269,423 0.02 907,438 Kotak Mahindra Bank Ltd. 3,381,052 0.26 111,409 Larsen & Toubro Ltd. 4,115,903 0.31 45,314 Lodha Developers Ltd. 323,437 0.02 14,261 LTIMindtree Ltd. 603,496 0.05 39,088 Lupin Ltd. 953,578 0.07 158,113 Mahindra & Mahindra Ltd. 4,925,489 0.37 17,795 Mankind Pharma Ltd. 376,317 0.03 95,545 Marico Ltd. 741,352 0.06 20,088 Maruti Suzuki India Ltd. 2,606,286 0.20 126,245 Max Healthcare Institute Ltd. 1,280,835 0.10 18,514 Mphasis Ltd. 400,735 0.03 370 MRF Ltd. 501,252 0.04 16,112 Muthoot Finance Ltd. 536,808 0.04 105,900 Nestle India Ltd. 1,311,681 0.10 489,378 NHPC Ltd. 380,363 0.03 428,820 NMDC Ltd. 344,824 0.03 717,040 NTPC Ltd. 2,802,049 0.21

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Indian Rupee - 15.85% (continued) 17,860 Oberoi Realty Ltd. 267,197 0.02 532,127 Oil & Natural Gas Corp. Ltd. 1,596,963 0.12 78,860 Oil India Ltd. 395,303 0.03 46,141 One 97 Communications Ltd. 466,524 0.04 3,403 Oracle Financial Services Software Ltd. 241,496 0.02 1,175 Page Industries Ltd. 393,633 0.03 56,977 PB Fintech Ltd. 857,700 0.07 18,412 Persistent Systems Ltd. 946,760 0.07 154,061 Petronet LNG Ltd. 403,553 0.03 33,979 Phoenix Mills Ltd. 539,623 0.04 11,860 PI Industries Ltd. 339,962 0.03 48,135 Pidilite Industries Ltd. 652,127 0.05 8,025 Polycab India Ltd. 579,018 0.04 251,802 Power Finance Corp. Ltd. 1,007,487 0.08 755,470 Power Grid Corp. of India Ltd. 2,358,436 0.18 26,195 Prestige Estates Projects Ltd. 311,113 0.02 387,701 Punjab National Bank 411,046 0.03 87,319 Rail Vikas Nigam Ltd. 229,831 0.02 225,910 REC Ltd. 726,685 0.06 997,921 Reliance Industries Ltd. 14,139,417 1.07 769,729 Samvardhana Motherson International Ltd. 852,759 0.06 44,599 SBI Cards & Payment Services Ltd. 298,796 0.02 76,021 SBI Life Insurance Co. Ltd. 1,424,501 0.11 1,142 Shree Cement Ltd. 277,166 0.02 245,301 Shriram Finance Ltd. 2,255,454 0.17 7,510 Siemens Energy India Ltd. 203,133 0.02 15,091 Siemens Ltd. 466,976 0.04 4,562 Solar Industries India Ltd. 580,827 0.04 27,705 SRF Ltd. 712,132 0.05 282,529 State Bank of India 2,917,370 0.22 160,982 Sun Pharmaceutical Industries Ltd. 2,982,407 0.23 10,502 Sundaram Finance Ltd. 484,471 0.04 11,532 Supreme Industries Ltd. 455,341 0.03 1,658,167 Suzlon Energy Ltd. 691,597 0.05 118,328 Swiggy Ltd. 324,424 0.02 18,948 Tata Communications Ltd. 269,271 0.02 149,542 Tata Consultancy Services Ltd. 3,719,128 0.28 104,036 Tata Consumer Products Ltd. 1,113,096 0.08 296,514 Tata Motors Ltd./new 1,234,215 0.09 317,844 Tata Motors Passenger Vehicles Ltd. 992,584 0.08 248,044 Tata Power Co. Ltd. 990,489 0.08 1,175,155 Tata Steel Ltd. 2,377,103 0.18 90,849 Tech Mahindra Ltd. 1,325,637 0.10

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Indian Rupee - 15.85% (continued) 59,506 Titan Co. Ltd. 2,479,021 0.19 19,980 Torrent Pharmaceuticals Ltd. 888,990 0.07 24,146 Torrent Power Ltd. 332,422 0.03 30,909 Trent Ltd. 1,074,025 0.08 17,850 Tube Investments of India Ltd. 473,742 0.04 42,677 TVS Motor Co. Ltd. 1,513,535 0.11 19,390 UltraTech Cement Ltd. 2,196,608 0.17 218,269 Union Bank of India Ltd. 377,862 0.03 54,503 United Spirits Ltd. 700,360 0.05 91,019 UPL Ltd. 545,018 0.04 218,505 Varun Beverages Ltd. 884,859 0.07 231,211 Vedanta Ltd. 1,596,194 0.12 262,628 Vishal Mega Mart Ltd. 291,567 0.02 3,832,522 Vodafone Idea Ltd. 344,669 0.03 33,775 Voltas Ltd. 453,236 0.03 12,856 WAAREE Energies Ltd. 421,509 0.03 442,550 Wipro Ltd. 875,500 0.07 2,723,161 Yes Bank Ltd. 495,257 0.04 47,033 Zydus Lifesciences Ltd. 432,005 0.03 208,847,256 15.85 Indonesian Rupiah - 1.14% 2,160,500 Amman Mineral Internasional PT 625,477 0.05 3,389,100 Astra International Tbk. PT 1,246,396 0.09 9,249,600 Bank Central Asia Tbk. PT 3,510,543 0.27 6,261,600 Bank Mandiri Persero Tbk. PT 1,739,077 0.13 2,842,300 Bank Negara Indonesia Persero Tbk. PT 628,853 0.05 11,368,194 Bank Rakyat Indonesia Persero Tbk. PT 2,227,549 0.17 3,324,100 Barito Pacific Tbk. PT 266,992 0.02 1,076,900 Barito Renewables Energy Tbk. PT 332,680 0.02 8,127,700 Bumi Resources Minerals Tbk. PT 349,126 0.03 1,201,200 Chandra Asri Pacific Tbk. PT 335,738 0.03 1,019,800 Charoen Pokphand Indonesia Tbk. PT 246,031 0.02 149,500 Dian Swastatika Sentosa Tbk. PT 580,600 0.04 141,257,800 GoTo Gojek Tokopedia Tbk. PT 423,911 0.03 3,316,900 Petrindo Jaya Kreasi Tbk. PT 206,885 0.02 3,854,100 Sumber Alfaria Trijaya Tbk. PT 335,642 0.03 8,325,600 Telkom Indonesia Persero Tbk. PT 1,499,093 0.11 217,900 United Tractors Tbk. PT 398,117 0.03 14,952,710 1.14 Malaysian Ringgit - 1.56% 301,400 AMMB Holdings Bhd. 490,547 0.04 293,512 Axiata Group Bhd. 160,203 0.01

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Malaysian Ringgit - 1.56% (continued) 711,100 CelcomDigi Bhd. 519,846 0.04 1,399,978 CIMB Group Holdings Bhd. 2,610,480 0.20 876,978 Gamuda Bhd. 807,885 0.06 85,858 Hong Leong Bank Bhd. 464,384 0.04 423,300 IHH Healthcare Bhd. 938,808 0.07 389,900 IOI Corp. Bhd. 406,367 0.03 67,542 Kuala Lumpur Kepong Bhd. 358,645 0.03 998,166 Malayan Banking Bhd. 2,800,486 0.21 231,200 Maxis Bhd. 205,562 0.02 155,452 MISC Bhd. 324,034 0.02 391,950 Mr. DIY Group M Bhd. 148,107 0.01 9,500 Nestle Malaysia Bhd. 232,561 0.02 477,600 Petronas Chemicals Group Bhd. 715,987 0.05 46,000 Petronas Dagangan Bhd. 248,121 0.02 129,400 Petronas Gas Bhd. 573,975 0.04 643,900 Press Metal Aluminium Holdings Bhd. 1,272,215 0.10 2,543,550 Public Bank Bhd. 2,939,939 0.22 355,800 QL Resources Bhd. 325,132 0.02 211,310 RHB Bank Bhd. 440,468 0.03 326,337 SD Guthrie Bhd. 487,611 0.04 327,700 Sunway Bhd. 388,481 0.03 157,511 Telekom Malaysia Bhd. 276,199 0.02 488,600 Tenaga Nasional Bhd. 1,677,338 0.13 563,160 YTL Corp. Bhd. 235,056 0.02 670,620 YTL Power International Bhd. 496,878 0.04 20,545,315 1.56 New Taiwan Dolar - 28.37% 81,000 Accton Technology Corp. 3,825,774 0.29 100,535 Advantech Co. Ltd. 1,001,576 0.08 20,021 Airtac International Group 621,860 0.05 12,000 Alchip Technologies Ltd. 932,749 0.07 530,029 ASE Technology Holding Co. Ltd. 5,446,185 0.41 302,904 Asia Cement Corp. 328,770 0.03 51,000 Asia Vital Components Co. Ltd. 3,174,539 0.24 5,000 ASPEED Technology, Inc. 1,673,444 0.13 129,980 Asustek Computer, Inc. 2,232,062 0.17 28,000 Bizlink Holding, Inc. 1,523,929 0.12 166,000 Caliway Biopharmaceuticals Co. Ltd. 448,101 0.03 87,000 Catcher Technology Co. Ltd. 511,605 0.04 1,484,780 Cathay Financial Holding Co. Ltd. 3,264,937 0.25 265,359 Chailease Holding Co. Ltd. 908,877 0.07 1,119,785 Chang Hwa Commercial Bank Ltd. 714,533 0.05 440,000 China Airlines Ltd. 246,356 0.02

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) New Taiwan Dolar - 28.37% (continued) 1,847,272 China Steel Corp. 1,092,069 0.08 60,000 Chroma ATE, Inc. 2,749,453 0.21 610,000 Chunghwa Telecom Co. Ltd. 2,537,692 0.19 696,000 Compal Electronics, Inc. 586,713 0.04 2,755,601 CTBC Financial Holding Co. Ltd. 4,421,718 0.34 315,456 Delta Electronics, Inc. 13,616,806 1.03 154,000 E Ink Holdings, Inc. 657,523 0.05 2,482,844 E.Sun Financial Holding Co. Ltd. 2,465,758 0.19 48,000 Elite Material Co. Ltd. 3,903,660 0.30 10,000 eMemory Technology, Inc. 822,646 0.06 408,000 Eva Airways Corp. 433,269 0.03 173,018 Evergreen Marine Corp. Taiwan Ltd. 1,079,671 0.08 510,714 Far Eastern New Century Corp. 420,137 0.03 309,000 Far EasTone Telecommunications Co. Ltd. 888,242 0.07 1,914,068 First Financial Holding Co. Ltd. 1,688,355 0.13 560,760 Formosa Chemicals & Fibre Corp. 788,432 0.06 570,400 Formosa Plastics Corp. 818,935 0.06 25,740 Fortune Electric Co. Ltd. 633,637 0.05 1,363,267 Fubon Financial Holding Co. Ltd. 3,667,218 0.28 100,000 Gigabyte Technology Co. Ltd. 695,965 0.05 15,000 Global Unichip Corp. 1,015,796 0.08 40,000 Globalwafers Co. Ltd. 526,118 0.04 52,000 Gold Circuit Electronics Ltd. 1,398,811 0.11 2,055,266 Hon Hai Precision Industry Co. Ltd. 12,053,875 0.92 13,000 Hon Precision, Inc. 1,425,242 0.11 46,160 Hotai Motor Co. Ltd. 698,103 0.05 1,618,079 Hua Nan Financial Holdings Co. Ltd. 1,680,332 0.13 1,217,929 Innolux Corp. 908,590 0.07 33,000 International Games System Co. Ltd. 777,260 0.06 435,000 Inventec Corp. 544,941 0.04 13,000 Jentech Precision Industrial Co. Ltd. 1,543,166 0.12 2,387,047 KGI Financial Holding Co. Ltd. 1,437,305 0.11 9,000 King Slide Works Co. Ltd. 893,807 0.07 176,000 King Yuan Electronics Co. Ltd. 1,436,847 0.11 16,000 Largan Precision Co. Ltd. 1,078,511 0.08 335,581 Lite-On Technology Corp. 1,474,793 0.11 12,000 Lotes Co. Ltd. 769,471 0.06 250,813 MediaTek, Inc. 11,689,439 0.89 1,957,148 Mega Financial Holding Co. Ltd. 2,353,842 0.18 876,700 Nan Ya Plastics Corp. 2,026,529 0.15 93,000 Novatek Microelectronics Corp. 1,103,957 0.08 337,000 Pegatron Corp. 803,234 0.06 50,730 PharmaEssentia Corp. 952,080 0.07

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) New Taiwan Dolar - 28.37% (continued) 92,000 President Chain Store Corp. 646,043 0.05 457,000 Quanta Computer, Inc. 3,981,060 0.30 95,000 Realtek Semiconductor Corp. 1,420,394 0.11 677,700 Shanghai Commercial & Savings Bank Ltd. 826,722 0.06 1,978,799 SinoPac Financial Holdings Co. Ltd. 1,900,192 0.14 1,134,241 Taiwan Business Bank 532,174 0.04 1,897,629 Taiwan Cooperative Financial Holding Co. Ltd. 1,391,911 0.11 322,000 Taiwan High Speed Rail Corp. 265,396 0.02 272,500 Taiwan Mobile Co. Ltd. 929,074 0.07 4,000,865 Taiwan Semiconductor Manufacturing Co. Ltd. 220,254,063 16.72 1,154,895 TCC Group Holdings Co. Ltd. 830,860 0.06 161,000 Teco Electric & Machinery Co. Ltd. 302,158 0.02 3,632,950 TS Financial Holding Co. Ltd. 2,630,679 0.20 217,871 Unimicron Technology Corp. 3,029,204 0.23 783,079 Uni-President Enterprises Corp. 1,739,087 0.13 1,838,820 United Microelectronics Corp. 3,249,713 0.25 164,707 Vanguard International Semiconductor Corp. 597,623 0.05 100,230 Wan Hai Lines Ltd. 241,718 0.02 490,000 Wistron Corp. 1,877,541 0.14 17,017 Wiwynn Corp. 1,756,525 0.13 263,080 Yageo Corp. 2,003,753 0.15 310,000 Yang Ming Marine Transport Corp. 504,223 0.04 1,816,313 Yuanta Financial Holding Co. Ltd. 2,542,384 0.19 132,000 Zhen Ding Technology Holding Ltd. 852,612 0.06 373,720,354 28.37 Philippines Peso - 0.46% 31,041 Ayala Corp. 257,270 0.02 1,263,100 Ayala Land, Inc. 335,579 0.02 306,908 Bank of the Philippine Islands 504,693 0.04 418,786 BDO Unibank, Inc. 777,598 0.06 157,060 International Container Terminal Services, Inc. 1,778,721 0.13 75,080 Jollibee Foods Corp. 219,617 0.02 55,160 Manila Electric Co. 560,680 0.04 402,017 Metropolitan Bank & Trust Co. 420,215 0.03 14,475 PLDT, Inc. 308,562 0.02 34,547 SM Investments Corp. 352,578 0.03 1,788,825 SM Prime Holdings, Inc. 602,164 0.05 6,117,677 0.46

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) South Korean Won - 18.68% 6,492 Alteogen, Inc. 1,447,470 0.11 4,152 Amorepacific Corp. 371,922 0.03 3,243 APR Corp. 713,538 0.05 25,650 Celltrion, Inc. 3,302,439 0.25 6,820 DB Insurance Co. Ltd. 729,355 0.06 1,176 Doosan Co. Ltd. 787,762 0.06 73,225 Doosan Enerbility Co. Ltd. 4,388,767 0.33 8,198 Ecopro BM Co. Ltd. 1,028,731 0.08 16,433 Ecopro Co. Ltd. 1,496,689 0.11 45,800 Hana Financial Group, Inc. 3,187,595 0.24 4,309 Hanjin Kal Corp. 303,274 0.02 11,168 Hankook Tire & Technology Co. Ltd. 394,469 0.03 7,810 Hanmi Semiconductor Co. Ltd. 1,279,868 0.10 5,453 Hanwha Aerospace Co. Ltd. 4,446,706 0.34 21,758 Hanwha Ocean Co. Ltd. 1,707,513 0.13 12,201 Hanwha Systems Co. Ltd. 908,911 0.07 7,319 HD Hyundai Co. Ltd. 1,142,063 0.09 3,588 HD Hyundai Electric Co. Ltd. 1,949,020 0.15 5,949 HD Hyundai Heavy Industries Co. Ltd. 1,806,082 0.14 1,668 HD Hyundai Marine Solution Co. Ltd. 195,588 0.02 6,710 HD Korea Shipbuilding & Offshore Engineering Co. Ltd. 1,507,028 0.11 19,521 HLB, Inc. 644,901 0.05 37,541 HMM Co. Ltd. 479,664 0.04 3,644 HYBE Co. Ltd. 711,361 0.05 935 Hyosung Heavy Industries Corp. 1,499,272 0.11 11,386 Hyundai Engineering & Construction Co. Ltd. 1,056,345 0.08 7,024 Hyundai Glovis Co. Ltd. 951,575 0.07 9,774 Hyundai Mobis Co. Ltd. 2,412,152 0.18 22,068 Hyundai Motor Co. 6,418,760 0.49 13,395 Hyundai Rotem Co. Ltd. 1,482,357 0.11 38,152 Industrial Bank of Korea 531,809 0.04 51,641 Kakao Corp. 1,544,190 0.12 29,619 KakaoBank Corp. 463,144 0.04 58,803 KB Financial Group, Inc. 5,447,815 0.41 38,525 Kia Corp. 3,652,159 0.28 12,039 Korea Aerospace Industries Ltd. 1,294,567 0.10 42,461 Korea Electric Power Corp. 1,154,638 0.09 7,312 Korea Investment Holdings Co. Ltd. 966,722 0.07 26,375 Korean Air Lines Co. Ltd. 405,531 0.03 4,896 Krafton, Inc. 815,121 0.06 16,292 KT&G Corp. 1,693,394 0.13 8,475 LG Chem Ltd. 1,654,441 0.13

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) South Korean Won - 18.68% (continued) 15,321 LG Corp. 828,243 0.06 53,223 LG Display Co. Ltd. 377,025 0.03 17,701 LG Electronics, Inc. 1,220,400 0.09 7,893 LG Energy Solution Ltd. 2,032,964 0.15 14,008 LG Uplus Corp. 142,033 0.01 2,314 LS Electric Co. Ltd. 1,084,747 0.08 14,315 Meritz Financial Group, Inc. 1,041,159 0.08 34,362 Mirae Asset Securities Co. Ltd. 1,381,973 0.11 22,619 NAVER Corp. 2,975,698 0.23 22,853 NH Investment & Securities Co. Ltd. 441,647 0.03 5,941 POSCO Future M Co. Ltd. 789,341 0.06 11,996 POSCO Holdings, Inc. 2,604,165 0.20 8,016 Posco International Corp. 374,200 0.03 1,875 Samsung Biologics Co. Ltd. 1,841,152 0.14 14,705 Samsung C&T Corp. 2,433,792 0.18 9,444 Samsung Electro-Mechanics Co. Ltd. 2,512,604 0.19 770,453 Samsung Electronics Co. Ltd. 84,105,208 6.38 1,095 Samsung Episholdings Co. Ltd. 353,168 0.03 4,878 Samsung Fire & Marine Insurance Co. Ltd. 1,402,905 0.11 115,459 Samsung Heavy Industries Co. Ltd. 1,843,092 0.14 13,707 Samsung Life Insurance Co. Ltd. 1,883,801 0.14 10,322 Samsung SDI Co. Ltd. 2,749,568 0.21 7,126 Samsung SDS Co. Ltd. 698,340 0.05 742 Samyang Foods Co. Ltd. 581,334 0.04 70,591 Shinhan Financial Group Co. Ltd. 4,041,936 0.31 4,007 SK Biopharmaceuticals Co. Ltd. 248,009 0.02 89,100 SK Hynix, Inc. 46,945,255 3.56 9,926 SK Innovation Co. Ltd. 704,440 0.05 15,507 SK Square Co. Ltd. 4,723,021 0.36 16,874 SK Telecom Co. Ltd. 841,689 0.06 5,843 SK, Inc. 1,148,267 0.09 5,980 S-Oil Corp. 411,121 0.03 112,841 Woori Financial Group, Inc. 2,361,214 0.18 9,782 Yuhan Corp. 605,448 0.05 246,103,667 18.68 Thailand Baht - 1.05% 142,192 Advanced Info Service PCL 1,608,175 0.12 573,576 Airports of Thailand PCL 904,365 0.07 1,526,168 Bangkok Dusit Medical Services PCL 865,353 0.07 87,463 Bumrungrad Hospital PCL 432,276 0.03 272,736 Central Pattana PCL 510,656 0.04 568,233 Charoen Pokphand Foods PCL 360,099 0.03 766,422 CP ALL PCL 1,039,945 0.08

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Thailand Baht - 1.05% (continued) 426,284 Delta Electronics Thailand PCL 3,347,713 0.25 433,005 Minor International PCL 283,593 0.02 199,734 PTT Exploration & Production PCL 981,107 0.08 1,373,370 PTT PCL 1,447,077 0.11 136,828 SCB X PCL 597,430 0.05 112,698 Siam Cement PCL 707,353 0.05 1,593,184 True Corp. PCL 695,629 0.05 13,780,771 1.05 United States Dollar - 0.02% 92,000 Inner Mongolia Yitai Coal Co. Ltd. 197,892 0.02 197,892 0.02 Yuan Renminbi - 4.90% 65,400 360 Security Technology, Inc. 101,319 0.01 30,400 37 Interactive Entertainment Network Technology Group Co. Ltd. 94,237 0.01 8,060 Advanced Micro-Fabrication Equipment, Inc. China 357,540 0.03 17,300 AECC Aviation Power Co. Ltd. 120,381 0.01 823,400 Agricultural Bank of China Ltd. (Class A) 798,758 0.06 100,427 Aier Eye Hospital Group Co. Ltd. 138,280 0.01 89,570 Air China Ltd. 87,278 0.01 301,500 Aluminum Corp. of China Ltd. (Class A) 497,647 0.04 29,900 Anhui Conch Cement Co. Ltd. (Class A) 100,263 0.01 6,300 Anhui Gujing Distillery Co. Ltd. 93,815 0.01 18,300 Anhui Jianghuai Automobile Group Corp. Ltd. 122,412 0.01 40,000 Avary Holding Shenzhen Co. Ltd. 302,141 0.02 239,500 Bank of Beijing Co. Ltd. 191,067 0.01 36,000 Bank of Chengdu Co. Ltd. 89,235 0.01 295,100 Bank of China Ltd. (Class A) 250,805 0.02 450,500 Bank of Communications Co. Ltd. (Class A) 456,586 0.03 29,700 Bank of Hangzhou Co. Ltd. 72,028 0.01 181,220 Bank of Jiangsu Co. Ltd. 286,522 0.02 119,700 Bank of Nanjing Co. Ltd. 197,400 0.01 81,540 Bank of Ningbo Co. Ltd. 359,490 0.03 154,450 Bank of Shanghai Co. Ltd. 221,611 0.02 173,400 Baoshan Iron & Steel Co. Ltd. 160,930 0.01 5,075 Beijing Kingsoft Office Software, Inc. 171,618 0.01 11,700 Beijing Tong Ren Tang Co. Ltd. 47,059 0.00 10,962 Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. 63,089 0.00 588,100 Beijing-Shanghai High Speed Railway Co. Ltd. 430,855 0.03

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Yuan Renminbi - 4.90% (continued) 475,200 BOE Technology Group Co. Ltd. 269,019 0.02 69,682 BYD Co. Ltd. (Class A) 1,061,872 0.08 3,342 Cambricon Technologies Corp. Ltd. 475,652 0.04 5,800 Changchun High-Tech Industry Group Co. Ltd. 72,111 0.01 92,600 Changjiang Securities Co. Ltd. 91,974 0.01 6,900 Changzhou Xingyu Automotive Lighting Systems Co. Ltd. 121,892 0.01 17,600 Chaozhou Three-Circle Group Co. Ltd. 134,675 0.01 107,600 China CITIC Bank Corp. Ltd. (Class A) 129,306 0.01 173,800 China Construction Bank Corp. (Class A) 242,832 0.02 75,000 China CSSC Holdings Ltd. 334,892 0.03 330,900 China Eastern Airlines Corp. Ltd. 203,617 0.02 363,500 China Energy Engineering Corp. Ltd. 152,627 0.01 658,700 China Everbright Bank Co. Ltd. 306,141 0.02 107,000 China Galaxy Securities Co. Ltd. (Class A) 197,371 0.01 66,800 China International Capital Corp. Ltd. (Class A) 313,269 0.02 47,300 China Jushi Co. Ltd. 166,485 0.01 34,300 China Life Insurance Co. Ltd. (Class A) 180,471 0.01 205,130 China Merchants Bank Co. Ltd. (Class A) 1,167,810 0.09 147,700 China Merchants Energy Shipping Co. Ltd. 349,859 0.03 84,400 China Merchants Expressway Network & Technology Holdings Co. Ltd. 120,489 0.01 68,900 China Merchants Securities Co. Ltd. 154,027 0.01 43,700 China Merchants Shekou Industrial Zone Holdings Co. Ltd. 53,212 0.00 547,660 China Minsheng Banking Corp. Ltd. (Class A) 300,524 0.02 167,200 China National Nuclear Power Co. Ltd. 219,086 0.02 55,900 China Northern Rare Earth Group High-Tech Co. Ltd. 385,902 0.03 70,000 China Pacific Insurance Group Co. Ltd. (Class A) 375,910 0.03 272,300 China Petroleum & Chemical Corp. (Class A) 231,822 0.02 316,000 China Railway Group Ltd. (Class A) 248,437 0.02 24,206 China Resources Microelectronics Ltd. 156,100 0.01 64,400 China Shenhua Energy Co. Ltd. (Class A) 435,910 0.03 76,100 China Southern Airlines Co. Ltd. 62,253 0.00 429,340 China State Construction Engineering Corp. Ltd. 311,436 0.02

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Yuan Renminbi - 4.90% (continued) 246,900 China Three Gorges Renewables Group Co. Ltd. 152,286 0.01 11,700 China Tourism Group Duty Free Corp. Ltd. 119,224 0.01 21,900 China Tungsten & Hightech Materials Co. Ltd. 151,280 0.01 492,800 China United Network Communications Ltd. 317,512 0.02 98,500 China Vanke Co. Ltd. 56,903 0.00 78,500 China XD Electric Co. Ltd. 172,873 0.01 263,900 China Yangtze Power Co. Ltd. 1,033,179 0.08 673,100 China Zheshang Bank Co. Ltd. 292,368 0.02 44,848 Chongqing Changan Automobile Co. Ltd. 64,934 0.00 31,200 Chongqing Zhifei Biological Products Co. Ltd. 67,580 0.01 141,290 CITIC Securities Co. Ltd. (Class A) 491,785 0.04 217,000 CMOC Group Ltd. (Class A) 538,832 0.04 150,300 CNPC Capital Co. Ltd. 221,967 0.02 45,620 Contemporary Amperex Technology Co. Ltd. (Class A) 2,653,301 0.20 107,230 COSCO SHIPPING Holdings Co. Ltd. (Class A) 233,038 0.02 310,000 CRRC Corp. Ltd. (Class A) 284,564 0.02 37,500 CSC Financial Co. Ltd. 116,463 0.01 178,044 Daqin Railway Co. Ltd. 138,172 0.01 72,100 Dongfang Electric Corp. Ltd. 365,892 0.03 52,900 Dongxing Securities Co. Ltd. 94,362 0.01 204,712 East Money Information Co. Ltd. 559,892 0.04 3,770 Eastroc Beverage Group Co. Ltd. 112,046 0.01 12,620 Eoptolink Technology, Inc. Ltd. 809,162 0.06 30,013 Eve Energy Co. Ltd. 270,420 0.02 55,100 Everbright Securities Co. Ltd. 121,581 0.01 271,800 Focus Media Information Technology Co. Ltd. 257,763 0.02 38,102 Foshan Haitian Flavouring & Food Co. Ltd. 226,184 0.02 133,900 Founder Securities Co. Ltd. 131,638 0.01 144,700 Foxconn Industrial Internet Co. Ltd. 1,078,122 0.08 12,500 Fuyao Glass Industry Group Co. Ltd. (Class A) 103,161 0.01 26,140 Ganfeng Lithium Group Co. Ltd. (Class A) 296,647 0.02 131,400 GD Power Development Co. Ltd. 92,081 0.01 134,100 GEM Co. Ltd. 153,192 0.01 145,700 GF Securities Co. Ltd. (Class A) 378,874 0.03 8,428 GigaDevice Semiconductor, Inc. 290,545 0.02

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Yuan Renminbi - 4.90% (continued) 56,100 GoerTek, Inc. 181,620 0.01 41,225 Goldwind Science & Technology Co. Ltd. 156,981 0.01 22,000 Gotion High-tech Co. Ltd. 113,716 0.01 35,400 Gree Electric Appliances, Inc. of Zhuhai 193,845 0.01 26,000 Guangdong Haid Group Co. Ltd. 187,508 0.01 150,000 Guangzhou Automobile Group Co. Ltd. 156,153 0.01 29,886 Guangzhou Tinci Materials Technology Co. Ltd. 199,047 0.02 68,000 Guosen Securities Co. Ltd. 110,368 0.01 189,056 Guotai Haitong Securities Co. Ltd. 454,115 0.03 174,500 Guoyuan Securities Co. Ltd. 193,785 0.01 94,100 Haier Smart Home Co. Ltd. (Class A) 291,291 0.02 364,900 Hainan Airlines Holding Co. Ltd. 76,607 0.01 12,800 Hangzhou Chang Chuan Technology Co. Ltd. 224,339 0.02 42,257 Hangzhou First Applied Material Co. Ltd. 107,375 0.01 22,700 Hangzhou Silan Microelectronics Co. Ltd. 83,876 0.01 12,000 Hangzhou Tigermed Consulting Co. Ltd. 93,527 0.01 27,500 Henan Shuanghui Investment & Development Co. Ltd. 113,079 0.01 154,090 Hengli Petrochemical Co. Ltd. 483,016 0.04 40,000 Hengtong Optic-electric Co. Ltd. 304,979 0.02 4,100 Hithink RoyalFlush Information Network Co. Ltd. 177,197 0.01 9,200 Hoshine Silicon Industry Co. Ltd. 53,894 0.00 95,800 Huadian Power International Corp. Ltd. 65,330 0.00 29,000 Huadong Medicine Co. Ltd. 148,302 0.01 154,400 Huaneng Power International, Inc. (Class A) 156,933 0.01 47,900 Huatai Securities Co. Ltd. (Class A) 123,448 0.01 96,400 Huaxia Bank Co. Ltd. 102,169 0.01 94,593 Huayu Automotive Systems Co. Ltd. 263,097 0.02 4,700 Huizhou Desay Sv Automotive Co. Ltd. 70,690 0.01 29,101 Hundsun Technologies, Inc. 107,569 0.01 22,433 Hygon Information Technology Co. Ltd. 682,926 0.05 26,432 IEIT Systems Co. Ltd. 214,619 0.02 21,800 Iflytek Co. Ltd. 145,855 0.01 3,976 Imeik Technology Development Co. Ltd. 67,492 0.01 563,900 Industrial & Commercial Bank of China Ltd. (Class A) 623,771 0.05 241,700 Industrial Bank Co. Ltd. 658,606 0.05 130,740 Industrial Securities Co. Ltd. 111,116 0.01

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Yuan Renminbi - 4.90% (continued) 389,300 Inner Mongolia BaoTou Steel Union Co. Ltd. 141,478 0.01 94,368 Inner Mongolia Yili Industrial Group Co. Ltd. 360,027 0.03 39,284 JA Solar Technology Co. Ltd. 61,997 0.00 12,500 JCET Group Co. Ltd. 70,131 0.01 57,200 Jiangsu Eastern Shenghong Co. Ltd. 88,201 0.01 19,900 Jiangsu Hengli Hydraulic Co. Ltd. 276,601 0.02 73,266 Jiangsu Hengrui Pharmaceuticals Co. Ltd. 585,772 0.04 12,200 Jiangsu King’s Luck Brewery JSC Ltd. 46,810 0.00 12,500 Jiangsu Yanghe Distillery Co. Ltd. 91,831 0.01 80,700 Jiangsu Zhongtian Technology Co. Ltd. 351,581 0.03 19,000 Jiangxi Copper Co. Ltd. (Class A) 118,291 0.01 134,258 Jinko Solar Co. Ltd. 126,547 0.01 18,100 Kuang-Chi Technologies Co. Ltd. 100,580 0.01 9,300 Kunlun Tech Co. Ltd. 65,979 0.00 12,000 Kweichow Moutai Co. Ltd. 2,519,293 0.19 52,200 Lens Technology Co. Ltd. 211,469 0.02 116,700 Lingyi iTech Guangdong Co. 216,784 0.02 62,129 LONGi Green Energy Technology Co. Ltd. 157,780 0.01 71,368 Luxshare Precision Industry Co. Ltd. 509,011 0.04 11,825 Luzhou Laojiao Co. Ltd. 179,223 0.01 24,000 Mango Excellent Media Co. Ltd. 71,583 0.01 10,944 Maxscend Microelectronics Co. Ltd. 126,336 0.01 286,600 Metallurgical Corp. of China Ltd. 124,488 0.01 39,900 Midea Group Co. Ltd. (Class A) 441,074 0.03 14,067 Montage Technology Co. Ltd. 255,160 0.02 63,330 Muyuan Foods Co. Ltd. 382,454 0.03 64,932 NARI Technology Co. Ltd. 244,340 0.02 7,155 NAURA Technology Group Co. Ltd. 463,070 0.04 20,000 New China Life Insurance Co. Ltd. (Class A) 178,175 0.01 38,200 New Hope Liuhe Co. Ltd. 45,353 0.00 14,112 Ningbo Deye Technology Co. Ltd. 268,603 0.02 14,790 Ningbo Tuopu Group Co. Ltd. 121,631 0.01 111,800 Ningxia Baofeng Energy Group Co. Ltd. 470,399 0.04 7,310 OmniVision Integrated Circuits Group, Inc. 100,505 0.01 83,968 Orient Securities Co. Ltd. 109,904 0.01 170,000 PetroChina Co. Ltd. (Class A) 300,042 0.02 225,300 Ping An Bank Co. Ltd. 361,435 0.03 110,100 Ping An Insurance Group Co. of China Ltd. (Class A) 905,132 0.07

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Yuan Renminbi - 4.90% (continued) 2,577 Piotech, Inc. 138,053 0.01 137,400 Poly Developments & Holdings Group Co. Ltd. 115,781 0.01 384,900 Postal Savings Bank of China Co. Ltd. (Class A) 285,887 0.02 193,700 Power Construction Corp. of China Ltd. 160,980 0.01 73,500 Qinghai Salt Lake Industry Co. Ltd. 393,748 0.03 13,100 Range Intelligent Computing Technology Group Co. Ltd. 153,254 0.01 114,000 Rongsheng Petrochemical Co. Ltd. 198,069 0.02 64,900 SAIC Motor Corp. Ltd. 137,097 0.01 12,000 Sanan Optoelectronics Co. Ltd. 20,276 0.00 67,000 Sany Heavy Industry Co. Ltd. 186,448 0.01 39,900 Satellite Chemical Co. Ltd. 159,561 0.01 59,000 SDIC Power Holdings Co. Ltd. 120,961 0.01 14,500 Seres Group Co. Ltd. 190,689 0.01 29,700 SF Holding Co. Ltd. (Class A) 163,579 0.01 9,410 SG Micro Corp. 92,142 0.01 118,300 Shaanxi Coal Industry Co. Ltd. 438,313 0.03 16,900 Shandong Gold Mining Co. Ltd. (Class A) 98,488 0.01 12,800 Shandong Himile Mechanical Science & Technology Co. Ltd. 146,742 0.01 38,800 Shandong Hualu Hengsheng Chemical Co. Ltd. 203,362 0.02 311,200 Shandong Nanshan Aluminum Co. Ltd. 276,204 0.02 24,160 Shanghai Baosight Software Co. Ltd. 80,455 0.01 146,500 Shanghai Electric Group Co. Ltd. 168,842 0.01 26,026 Shanghai Fosun Pharmaceutical Group Co. Ltd. 100,348 0.01 10,000 Shanghai International Airport Co. Ltd. 39,990 0.00 45,000 Shanghai Pharmaceuticals Holding Co. Ltd. 111,088 0.01 351,100 Shanghai Pudong Development Bank Co. Ltd. 517,497 0.04 30,450 Shanghai Putailai New Energy Technology Group Co. Ltd. 140,992 0.01 81,800 Shanghai Rural Commercial Bank Co. Ltd. 107,895 0.01 5,854 Shanghai United Imaging Healthcare Co. Ltd. 94,929 0.01 64,500 Shanjin International Gold Co. Ltd. 277,174 0.02 15,840 Shanxi Xinghuacun Fen Wine Factory Co. Ltd. 328,097 0.02 41,800 Shengyi Technology Co. Ltd. 327,842 0.02 9,200 Shennan Circuits Co. Ltd. 292,396 0.02 380,600 Shenwan Hongyuan Group Co. Ltd. 257,896 0.02

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Yuan Renminbi - 4.90% (continued) 13,700 Shenzhen Envicool Technology Co. Ltd. 167,315 0.01 20,050 Shenzhen Inovance Technology Co. Ltd. 194,500 0.01 3,200 Shenzhen Longsys Electronics Co. Ltd. 137,643 0.01 9,300 Shenzhen Megmeet Electrical Co. Ltd. 130,882 0.01 15,300 Shenzhen Mindray Bio-Medical Electronics Co. Ltd. 364,761 0.03 12,126 Shenzhen Transsion Holdings Co. Ltd. 96,299 0.01 20,930 Sichuan Chuantou Energy Co. Ltd. 45,122 0.00 92,600 Sichuan Road & Bridge Group Co. Ltd. 135,011 0.01 16,184 Sungrow Power Supply Co. Ltd. 353,266 0.03 25,500 Sunwoda Electronic Co. Ltd. 93,077 0.01 17,700 Suzhou Dongshan Precision Manufacturing Co. Ltd. 264,730 0.02 7,360 Suzhou TFC Optical Communication Co. Ltd. 321,395 0.02 76,390 TBEA Co. Ltd. 293,097 0.02 112,200 TCL Technology Group Corp. 69,367 0.01 68,125 TCL Zhonghuan Renewable Energy Technology Co. Ltd. 86,602 0.01 24,100 Tianqi Lithium Corp. 193,590 0.01 349,500 Tongling Nonferrous Metals Group Co. Ltd. 294,004 0.02 46,200 Tongwei Co. Ltd. 110,505 0.01 28,412 Trina Solar Co. Ltd. 67,794 0.01 10,100 Tsingtao Brewery Co. Ltd. (Class A) 90,461 0.01 10,839 Unigroup Guoxin Microelectronics Co. Ltd. 103,640 0.01 46,060 Unisplendour Corp. Ltd. 166,055 0.01 7,340 Verisilicon Microelectronics Shanghai Co. Ltd. 214,992 0.02 7,700 Victory Giant Technology Huizhou Co. Ltd. 279,830 0.02 35,400 Wanhua Chemical Group Co. Ltd. 407,218 0.03 52,700 Weichai Power Co. Ltd. (Class A) 184,958 0.01 44,760 Wens Foodstuff Group Co. Ltd. 107,709 0.01 71,900 Western Securities Co. Ltd. 75,786 0.01 22,300 Wingtech Technology Co. Ltd. 101,254 0.01 36,700 Wuliangye Yibin Co. Ltd. 548,744 0.04 31,200 WUS Printed Circuit Kunshan Co. Ltd. 343,183 0.03 16,492 WuXi AppTec Co. Ltd. (Class A) 234,246 0.02 104,800 XCMG Construction Machinery Co. Ltd. 152,951 0.01 39,583 Xinjiang Daqo New Energy Co. Ltd. 120,353 0.01 68,060 Yankuang Energy Group Co. Ltd. (Class A) 190,679 0.01 28,350 Yealink Network Technology Corp. Ltd. 134,388 0.01

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Common Stock - 97.80% (March 2025: 97.90%) (continued) Yuan Renminbi - 4.90% (continued) 51,160 Yonyou Network Technology Co. Ltd. 86,221 0.01 40,600 YTO Express Group Co. Ltd. 118,449 0.01 81,000 Yunnan Aluminium Co. Ltd. 363,560 0.03 11,720 Yunnan Baiyao Group Co. Ltd. 93,092 0.01 35,900 Zangge Mining Co. Ltd. 412,034 0.03 7,100 Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. 155,329 0.01 70,900 Zhejiang Century Huatong Group Co. Ltd. 163,836 0.01 46,100 Zhejiang China Commodities City Group Co. Ltd. 86,370 0.01 33,300 Zhejiang Chint Electrics Co. Ltd. 157,419 0.01 23,000 Zhejiang Dahua Technology Co. Ltd. 56,112 0.00 27,890 Zhejiang Huayou Cobalt Co. Ltd. 237,158 0.02 20,000 Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. 119,044 0.01 22,700 Zhejiang Juhua Co. Ltd. 112,240 0.01 37,080 Zhejiang NHU Co. Ltd. 185,489 0.01 17,100 Zhejiang Sanhua Intelligent Controls Co. Ltd. 105,298 0.01 170,500 Zhejiang Zheneng Electric Power Co. Ltd. 134,046 0.01 9,900 Zhongji Innolight Co. Ltd. 816,187 0.06 41,600 Zhongjin Gold Corp. Ltd. 160,878 0.01 276,400 Zijin Mining Group Co. Ltd. (Class A) 1,309,425 0.10 119,100 Zoomlion Heavy Industry Science & Technology Co. Ltd. 148,299 0.01 30,000 ZTE Corp. (Class A) 140,907 0.01 64,596,358 4.90 Total Common Stock 1,288,392,224 97.80 Depository Receipts - 1.67% (March 2025: 2.46%) Thailand Baht - 0.31% 12,600 Advanced Info Service PCL 142,505 0.01 142,200 Airports of Thailand PCL 224,209 0.02 153,600 Bangkok Dusit Medical Services PCL 87,558 0.01 9,000 Bumrungrad Hospital PCL 44,481 0.00 32,400 Central Pattana PCL 61,155 0.00 90,300 CP ALL PCL 124,580 0.01 60,200 Delta Electronics Thailand PCL 472,765 0.04 726,650 Gulf Development PCL 1,305,458 0.10 86,600 Kasikornbank PCL 501,534 0.04 490,200 Krung Thai Bank PCL 520,224 0.04 125,600 Minor International PCL 82,261 0.01 19,800 PTT Exploration & Production PCL 96,959 0.01 144,600 PTT PCL 153,457 0.01

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% of Net Assets Transferable Securities - 100.32% (March 2025: 100.88%) (continued) Depository Receipts - 1.67% (March 2025: 2.46%) (continued) Thailand Baht - 0.31% (continued) 16,200 SCB X PCL 70,734 0.00 29,400 Siam Cement PCL 184,530 0.01 4,072,410 0.31 United States Dollar - 1.36% 33,277 H World Group Ltd. 1,673,500 0.13 58,838 Kanzhun Ltd. 787,841 0.06 95,933 KE Holdings, Inc. 1,436,117 0.11 13,856 Legend Biotech Corp. 250,655 0.02 113,373 PDD Holdings, Inc. 11,584,453 0.88 58,308 TAL Education Group 662,962 0.05 79,964 Tencent Music Entertainment Group 742,066 0.05 53,551 Vipshop Holdings Ltd. 841,822 0.06 17,979,416 1.36 Total Depository Receipts 22,051,826 1.67 Preferred Stock - 0.85% (March 2025: 0.52%) Indian Rupee - 0.00% 156,016 TVS Motor Co. Ltd. 16,860 0.00 16,860 0.00 South Korean Won - 0.85% 6,319 Hyundai Motor Co. (Class A) 959,206 0.07 2,306 Hyundai Motor Co. (Class H) 344,775 0.03 132,553 Samsung Electronics Co. Ltd. 9,865,858 0.75 11,169,839 0.85 Total Preferred Stock 11,186,699 0.85 Total Transferable Securities 1,321,630,749 100.32

Financial Derivative Instruments - (0.01%) (March 2025: 0.01%) Futures Contracts – (0.01%) (March 2025: 0.01%)

Notional Amount

Average Cost Price

Unrealised Loss USD

% of Net Assets 2,637,050 1,147 23 of MSCI India Index Futures Long Futures Contracts Expiring 19 June 2026 (167,310) (0.01) Net Unrealised Loss on Futures Contracts (167,310) (0.01) Total Financial Derivative Instruments (167,310) (0.01)

Fair Value USD % of Fund Total value of investments 1,321,463,439 100.31 Cash at bank* (March 2025: 0.11%) 11,170,064 0.85 Cash at broker* (March 2025: 0.01%) 393,008 0.03 Other net liabilities (March 2025: (1.01%)) (15,636,969) (1.19) Net assets attributable to holders of redeemable participating shares 1,317,389,542 100.00

*All cash holdings are held at State Street Bank and Trust Company, apart from cash at broker which is held with Barclays Capital. The broker for the open futures contracts is Barclays Capital. All of the above securities are traded on a recognised stock exchange or traded on a regulated market unless otherwise stated.

Analysis of Total Assets (unaudited)

% of Total Assets Transferable securities admitted to an official exchange listing 98.93 Other assets 1.07 Total Assets 100.00

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Statement of Financial Position as at 31 March 2026

Notes 2026 USD 2025 USD

Current assets Financial assets at fair value through profit or loss: 1(e),12 Transferable securities 462,243,870 342,345,079 462,243,870 342,345,079

Cash and cash equivalents 1(f) 842,377 1,041,004 Cash held with brokers and counterparties for open financial derivative instruments 1(g) 191,952 238,717 Debtors: Dividends receivable 1,392,767 1,141,885 Receivable for investments sold 3,587 603 Securities lending income receivable 101,547 48,185 Total current assets 464,776,100 344,815,473

Current liabilities Financial liabilities at fair value through profit or loss: 1(e) Financial derivative instruments (63,491) (14,203) Bank overdraft 1(f) (8,747) (185) Cash due to brokers and counterparties for open financial derivative instruments 1(g) - (92,251) Creditors - Amounts falling due within one year: Accrued expenses (227,613) (161,224) Capital gains tax accrual - (1,602,979) Total current liabilities (299,851) (1,870,842)

Net assets attributable to holders of redeemable participating shares 464,476,249 342,944,631

31 March 2026

31 March 2025

31 March 2024

Net asset value per share 5 USD 137.22 USD 110.45 USD 113.01

The accompanying notes form an integral part of these financial statements.

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Statement of Comprehensive Income for the financial year ended

31 March 2026

Notes

2026 USD

2025 USD

Dividend income 10,265,291 9,213,983 Income from financial assets at fair value 1,722 1,499 Securities lending income 13 633,790 403,052 Net changes in fair value of financial assets and financial liabilities at fair value through profit or loss 9 70,904,527 (15,440,526) Bank interest income 25,037 18,247 Miscellaneous income 264 Total investment income/(expense) 81,830,631 (5,803,745)

Operating expenses 3 (2,273,547) (2,003,127) Net profit/(loss) for the financial year before finance costs and tax 79,557,084 (7,806,872)

Profit/(loss) for the financial year before tax 79,557,084 (7,806,872)

Capital gains tax 2 (173,312) (2,410,768) Withholding tax on investment income 2 (1,225,824) (1,106,985) Increase/(decrease) in net assets attributable to holders of redeemable participating shares resulting from operations 78,157,948 (11,324,625)

Gains and losses arose solely from continuing operations. There were no recognised gains or losses other than those dealt with in the Statement of Comprehensive Income.

The accompanying notes form an integral part of these financial statements.

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Statement of Changes in Net Assets Attributable to Holders of Redeemable

Participating Shares for the financial year ended 31 March 2026

2026 USD

2025 USD

Net assets attributable to holders of redeemable participating shares at the beginning of the financial year 342,944,631 296,659,575

Increase/(decrease) in net assets attributable to holders of redeemable participating shares resulting from operations 78,157,948 (11,324,625)

Share transactions Proceeds from redeemable participating shares issued 68,869,911 81,426,919 Costs of redeemable participating shares redeemed (25,496,241) (23,817,238) Increase in net assets from share transactions 43,373,670 57,609,681

Total increase in net assets attributable to holders of redeemable participating shares 121,531,618 46,285,056

Net assets attributable to holders of redeemable participating shares at the end of the financial year 464,476,249 342,944,631

The accompanying notes form an integral part of these financial statements.

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Statement of Cash Flows for the financial year ended 31 March 2026

Notes 2026 USD 2025 USD

Increase/(decrease) in net assets attributable to holders of redeemable participating shares resulting from operations 78,157,948 (11,324,625)

Adjustment for: Movement in cash held with/due to broker (45,486) (101,470) Movement in financial assets at fair value through profit or loss (119,901,775) (45,436,790) Unrealised movement on derivative assets and liabilities 49,288 17,166

Operating cash flows before movements in working capital (41,740,025) (56,845,719)

Movement in receivables (304,244) (220,083) Movement in payables (1,536,590) (458,052)

Net working capital movement (1,840,834) (678,135)

Net cash outflow from operating activities (43,580,859) (57,523,854)

Financing activities Proceeds from subscriptions 5 68,869,911 81,426,919 Payments for redemptions 5 (25,496,241) (23,817,238)

Net cash generated by financing activities 43,373,670 57,609,681

Net (decrease)/increase in cash and cash equivalents (207,189) 85,827

Cash and cash equivalents at the start of the financial year 1,040,819 954,992 Cash and cash equivalents at the end of the financial year 833,630 1,040,819

Cash and cash equivalents - Statement of Financial Position 842,377 1,041,004 Bank overdraft - Statement of Financial Position (8,747) (185)

Cash and cash equivalents - Statement of Cash Flows 833,630 1,040,819

Supplementary information Taxation paid (1,399,136) (1,914,774) Interest received 26,759 19,746 Dividend received 10,014,409 8,990,144

The accompanying notes form an integral part of these financial statements.

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) Common Stock - 93.20% (March 2025: 94.01%) Brazilian Real - 3.01% 132,833 Allos SA 771,772 0.17 38,132 Alupar Investimento SA 256,893 0.05 97,804 Auren Energia SA 223,629 0.05 34,422 Azzas 2154 SA 169,409 0.04 1,969 Banco ABC Brasil SA 9,562 0.00 - Banco BTG Pactual SA 1 115,156 Brava Energia 453,616 0.10 36,700 C&A Modas SA 85,039 0.02 58,500 Cia Brasileira de Aluminio 117,628 0.02 57,775 Cia de Saneamento de Minas Gerais Copasa MG 638,386 0.14 59,941 Cia De Sanena Do Parana 511,145 0.11 120,280 Cia Siderurgica Nacional SA 145,802 0.03 649,527 Cogna Educacao SA 393,053 0.08 416,298 Cosan SA 428,898 0.09 32,776 Cury Construtora e Incorporadora SA 222,065 0.05 94,795 Cyrela Brazil Realty SA Empreendimentos e Participacoes 495,945 0.11 113,170 Dexco SA 102,075 0.02 102,436 Direcional Engenharia SA 260,898 0.06 63,642 EcoRodovias Infraestrutura e Logistica SA 102,740 0.02 71,435 Fleury SA 217,919 0.05 37,500 Fras-Le SA 162,798 0.03 144,110 GPS Participacoes e Empreendimentos SA 460,869 0.10 71,172 Grendene SA 64,603 0.01 184,030 Grupo Mateus SA 165,636 0.04 95,290 Hapvida Participacoes e Investimentos SA 184,305 0.04 126,200 Hidrovias do Brasil SA 98,602 0.02 83,187 Hypera SA (Class A) 370,856 0.08 8,760 Hypera SA (Class H) 40,580 0.01 92,386 Iguatemi SA 494,311 0.11 19,669 Intelbras SA Industria de Telecomunicacao Eletronica Brasileira 55,181 0.01 15,974 IRB-Brasil Resseguros SA 167,022 0.04 306,565 Lojas Renner SA 878,257 0.19 16,286 M Dias Branco SA 71,763 0.02 126,305 Magazine Luiza SA 212,123 0.05 23,200 Mahle Metal Leve SA 155,453 0.03 33,000 Marcopolo SA 36,716 0.01 205,065 Minerva SA 166,897 0.04 104,688 MRV Engenharia e Participacoes SA 157,775 0.03 102,914 Multiplan Empreendimentos Imobiliarios SA 626,910 0.13 293,709 Natura Cosmeticos SA 587,199 0.13

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Brazilian Real - 3.01% (continued) 105,416 Odontoprev SA 271,113 0.06 10,800 Orizon Valorizacao de Residuos SA 147,607 0.03 52,155 Petroreconcavo SA 140,127 0.03 51,171 Sao Martinho SA 207,743 0.04 422,906 Sendas Distribuidora SA 767,749 0.16 43,292 Simpar SA 95,339 0.02 61,010 SLC Agricola SA 218,596 0.05 122,543 Smartfit Escola de Ginastica e Danca SA 449,626 0.10 55,524 Transmissora Alianca de Energia Eletrica SA 457,317 0.10 36,392 Tres Tentos Agroindustrial SA 111,505 0.02 152,756 Vamos Locacao de Caminhoes Maquinas e Equipamentos SA 108,820 0.02 34,996 Vivara Participacoes SA 173,641 0.04 17,980 Vulcabras SA 60,324 0.01 13,973,838 3.01 Chilean Peso - 0.78% 802,534 Aguas Andinas SA 304,267 0.07 24,073 Banco Itau Chile SA 496,305 0.11 16,547 CAP SA 122,989 0.03 47,105 Cia Cervecerias Unidas SA 266,271 0.06 3,443,921 Cia Sud Americana de Vapores SA 178,889 0.04 3,073,903 Colbun SA 427,978 0.09 40,573 Empresa Nacional de Telecomunicaciones SA 159,475 0.03 111,003 Engie Energia Chile SA 177,137 0.04 90,271 Inversiones Aguas Metropolitanas SA 98,188 0.02 9,029 Inversiones La Construccion SA 187,599 0.04 212,499 Parque Arauco SA 860,274 0.18 222,782 Ripley Corp. SA 92,106 0.02 761,490 SMU SA 106,837 0.02 138,289 Vina Concha y Toro SA 130,967 0.03 3,609,282 0.78 Colombian Peso - 0.25% 202,260 Cementos Argos SA 649,045 0.14 98,105 Grupo Argos SA 447,285 0.09 22,765 Mineros SA 80,893 0.02 1,177,223 0.25 Czech Koruna - 0.11% 9,895 Colt CZ Group SE 419,535 0.09 113 Philip Morris CR AS 99,849 0.02 519,384 0.11

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Egyptian Pound - 0.18% 153,904 Abou Kir Fertilizers & Chemical Industries 230,377 0.05 278,109 EFG Holding SAE 128,201 0.03 268,704 E-Finance for Digital & Financial Investments 88,616 0.02 475,476 Fawry for Banking & Payment Technology Services SAE 148,967 0.03 13,179 Orascom Construction PLC 116,146 0.02 99,716 Telecom Egypt Co. 143,582 0.03 855,889 0.18 Euro - 1.10% 10,158 Aegean Airlines SA 138,108 0.03 12,132 Aktor SA Holding Co. Technical & Energy Projects 137,688 0.03 16,022 Athens International Airport SA 193,836 0.04 10,872 Athens Water Supply & Sewage Co. SA 112,740 0.02 5,448 Autohellas Tourist & Trading SA 68,170 0.01 167,444 Ballys Intralot SA 176,916 0.04 15,340 Cenergy Holdings SA 334,406 0.07 22,589 GEK Terna SA 881,276 0.19 34,775 HELLENiQ ENERGY Holdings SA 395,469 0.09 33,704 Holding Co. ADMIE IPTO SA 109,123 0.02 16,713 LAMDA Development SA 115,155 0.03 17,634 Motor Oil Hellas Corinth Refineries SA 774,112 0.17 61,583 Optima bank SA 603,125 0.13 2,103 Piraeus Port Authority SA 87,715 0.02 6,707 Sarantis SA 108,189 0.02 13,634 Titan SA 706,909 0.15 13,006 Viohalco SA 189,417 0.04 5,132,354 1.10 Hong Kong Dollar - 9.73% 227,250 361 Degrees International Ltd. 182,027 0.04 170,000 Abbisko Cayman Ltd. 262,149 0.06 148,000 AK Medical Holdings Ltd. 116,660 0.03 130,000 Alphamab Oncology 129,333 0.03 14,600 Angelalign Technology, Inc. 138,082 0.03 116,000 Anhui Expressway Co. Ltd. (Class H) 219,714 0.05 9,600 Anjoy Foods Group Co. Ltd. 96,732 0.02 164,000 Anxin-China Holdings Ltd. - 87,800 Ascentage Pharma Group International 515,140 0.11 69,000 Ascletis Pharma, Inc. 146,445 0.03 96,400 AsiaInfo Technologies Ltd. 70,454 0.02 404,000 BAIC Motor Corp. Ltd. 78,840 0.02 937,000 BBMG Corp. 89,634 0.02

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Hong Kong Dollar - 9.73% (continued) 16,500 Beauty Farm Medical & Health Industry, Inc. 42,428 0.01 594,000 Beijing Capital International Airport Co. Ltd. 138,647 0.03 1,330,000 Beijing Enterprises Water Group Ltd. 459,720 0.10 366,000 Beijing Jingneng Clean Energy Co. Ltd. 105,502 0.02 72,000 Beijing Tong Ren Tang Chinese Medicine Co. Ltd. 69,702 0.02 23,500 Binjiang Service Group Co. Ltd. 70,258 0.02 16,000 Biocytogen Pharmaceuticals Beijing Co. Ltd. 112,956 0.02 51,200 Black Sesame International Holding Ltd. 101,353 0.02 14,400 Bloks Group Ltd. 111,762 0.02 278,000 Blue Moon Group Holdings Ltd. 102,120 0.02 922,000 Brilliance China Automotive Holdings Ltd. 325,749 0.07 27,200 CanSino Biologics, Inc. 108,242 0.02 119,500 CARsgen Therapeutics Holdings Ltd. 262,924 0.06 372,000 Central China Securities Co. Ltd. 86,355 0.02 990,000 CGN Mining Co. Ltd. 487,411 0.10 296,000 CGN New Energy Holdings Co. Ltd. 94,763 0.02 56,800 Chervon Holdings Ltd. 118,089 0.03 55,100 China Animal Healthcare Ltd. - 318,000 China BlueChemical Ltd. 111,541 0.02 583,500 China Bohai Bank Co. Ltd. 59,539 0.01 550,000 China Communications Services Corp. Ltd. 296,038 0.06 420,500 China Conch Venture Holdings Ltd. 612,498 0.13 564,902 China Datang Corp. Renewable Power Co. Ltd. 112,401 0.02 184,000 China East Education Holdings Ltd. 119,456 0.03 376,198 China Education Group Holdings Ltd. 127,156 0.03 1,188,000 China Everbright Environment Group Ltd. 813,699 0.18 322,000 China Everbright Ltd. 247,654 0.05 198,000 China Foods Ltd. 93,694 0.02 240,000 China Huiyuan Juice Group Ltd. - 1,702,000 China Jinmao Holdings Group Ltd. 280,041 0.06 284,000 China Lesso Group Holdings Ltd. 178,944 0.04 395,000 China Medical System Holdings Ltd. 674,103 0.15 15,600 China Metal Recycling Holdings Ltd. - 855,000 China Modern Dairy Holdings Ltd. 148,313 0.03 525,988 China Overseas Grand Oceans Group Ltd. 159,000 0.03 540,000 China Overseas Property Holdings Ltd. 272,059 0.06 240,000 China Qinfa Group Ltd. 102,242 0.02 85,800 China Resources Beverage Holdings Co. Ltd. 95,538 0.02

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Hong Kong Dollar - 9.73% (continued) 674,000 China Resources Building Materials Technology Holdings Ltd. 128,951 0.03 442,000 China Resources Medical Holdings Co. Ltd. 152,216 0.03 650,500 China Resources Pharmaceutical Group Ltd. 479,566 0.10 326,000 China Risun Group Ltd. 132,642 0.03 73,000 China Shineway Pharmaceutical Group Ltd. 83,520 0.02 65,000 China Tobacco International HK Co. Ltd. 280,222 0.06 1,108,000 China Traditional Chinese Medicine Holdings Co. Ltd. 250,142 0.05 604,000 China Travel International Investment Hong Kong Ltd. 86,284 0.02 164,000 China Water Affairs Group Ltd. 102,288 0.02 147,000 China XLX Fertiliser Ltd. 204,557 0.04 316,000 China Youran Dairy Group Ltd. 155,578 0.03 356,000 China Zhongwang Holdings Ltd. - 732,000 Chinasoft International Ltd. 306,237 0.07 100,600 Chongqing Hongjiu Fruit Co. Ltd. 5,582 0.00 266,000 Chongqing Machinery & Electric Co. Ltd. 78,034 0.02 18,200 CIG Shanghai Co. Ltd. 155,532 0.03 164,000 CIMC Enric Holdings Ltd. 210,852 0.05 17,600 Cirrus Aircraft Ltd. 79,422 0.02 882,000 COFCO Joycome Foods Ltd. 142,871 0.03 119,000 Consun Pharmaceutical Group Ltd. 252,869 0.05 182,000 COSCO SHIPPING International Hong Kong Co. Ltd. 145,550 0.03 410,862 COSCO SHIPPING Ports Ltd. 270,407 0.06 5,238,000 Country Garden Holdings Co. Ltd. 210,450 0.05 711,000 Country Garden Services Holdings Co. Ltd. 535,957 0.12 275,800 CSG Holding Co. Ltd. 56,988 0.01 434,000 CSSC Hong Kong Shipping Co. Ltd. 127,872 0.03 279,000 CStone Pharmaceuticals 309,597 0.07 526,200 CTEG - 214,000 Dalipal Holdings Ltd. 179,603 0.04 3,740,000 Damai Entertainment Holdings Ltd. 300,528 0.06 104,600 Dmall, Inc. 98,594 0.02 425,000 Dongyue Group Ltd. 586,528 0.13 23,500 DPC Dash Ltd. 143,274 0.03 8,100 Duality Biotherapeutics, Inc. 304,775 0.07 82,000 Dynagreen Environmental Protection Group Co. Ltd. 57,315 0.01 137,500 East Buy Holding Ltd. 476,327 0.10 80,000 Everest Medicines Ltd. 382,847 0.08

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Hong Kong Dollar - 9.73% (continued) 1,760,500 Evergrande Property Services Group Ltd. 253,739 0.05 418,500 Fenbi Ltd. 59,784 0.01 81,499 FIH Mobile Ltd. 205,717 0.04 110,000 First Tractor Co. Ltd. 116,872 0.03 3,300 Fortior Technology Shenzhen Co. Ltd. 39,229 0.01 428,000 Fu Shou Yuan International Group Ltd. 144,119 0.03 451,800 Fufeng Group Ltd. 398,772 0.09 175,000 Genertec Universal Medical Group Co. Ltd. 129,238 0.03 19,600 GenFleet Therapeutics Shanghai, Inc. 83,548 0.02 176,000 Global New Material International Holdings Ltd. 164,098 0.04 405,160 Grand Pharmaceutical Group Ltd. 368,459 0.08 343,500 Greentown China Holdings Ltd. 382,485 0.08 155,000 Greentown Management Holdings Co. Ltd. 42,110 0.01 554,000 Greentown Service Group Co. Ltd. 301,724 0.06 116,000 Guangdong Hong Kong Greater Bay Area Holdings Ltd. 90,253 0.02 272,000 Guangshen Railway Co. Ltd. 78,059 0.02 181,600 Guoquan Food Shanghai Co. Ltd. 97,978 0.02 41,200 Gushengtang Holdings Ltd. 143,461 0.03 804,000 Haichang Ocean Park Holdings Ltd. 48,198 0.01 68,200 Hangzhou SF Intra-City Industrial Co. Ltd. 94,034 0.02 323,000 Hanking Gold International Ltd. 166,028 0.04 214,000 Harbin Electric Co. Ltd. 567,741 0.12 221,100 Hopson Development Holdings Ltd. 74,450 0.02 254,000 Huabao International Holdings Ltd. 137,688 0.03 87,600 Hygeia Healthcare Holdings Co. Ltd. 127,486 0.03 140,000 Ingdan, Inc. 43,927 0.01 269,000 InnoCare Pharma Ltd. 465,248 0.10 152,000 Inspur Digital Enterprise Technology Ltd. 42,264 0.01 111,900 Jacobio Pharmaceuticals Group Co. Ltd. 98,624 0.02 30,000 JF SmartInvest Holdings Ltd. 110,431 0.02 697,000 Jinchuan Group International Resources Co. Ltd. 28,448 0.01 605,000 Jinxin Fertility Group Ltd. 183,656 0.04 43,500 JNBY Design Ltd. 116,515 0.03 31,500 Joinn Laboratories China Co. Ltd. 78,748 0.02 326,000 K Wah International Holdings Ltd. 91,893 0.02 67,500 Keymed Biosciences, Inc. 522,595 0.11 810,000 Kinetic Development Group Ltd. 219,025 0.05 200,000 Kingboard Holdings Ltd. 838,244 0.18 292,000 Kingboard Laminates Holdings Ltd. 712,849 0.15 242,000 Kingsoft Cloud Holdings Ltd. 212,979 0.05

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Hong Kong Dollar - 9.73% (continued) 312,000 Lee & Man Paper Manufacturing Ltd. 137,292 0.03 180,600 Legend Holdings Corp. 184,972 0.04 209,000 Lepu Biopharma Co. Ltd. 142,351 0.03 50,000 Lianlian DigiTech Co. Ltd. 36,861 0.01 890,000 Lifetech Scientific Corp. 190,709 0.04 134,000 Lingbao Gold Group Co. Ltd. 440,958 0.09 266,500 Linklogis, Inc. 62,884 0.01 137,500 LK Technology Holdings Ltd. 45,598 0.01 389,000 Logan Group Co. Ltd. 63,012 0.01 398,000 Lonking Holdings Ltd. 151,784 0.03 3,500 Lumena Newmat - 757,500 Luye Pharma Group Ltd. 242,510 0.05 478,000 Maanshan Iron & Steel Co. Ltd. 153,029 0.03 123,802 Maoyan Entertainment 90,481 0.02 21,400 Marketingforce Management Ltd. 85,107 0.02 59,500 Medlive Technology Co. Ltd. 64,356 0.01 54,000 MH Development NPV - 116,510 MicroPort NeuroScientific Corp. 156,333 0.03 291,400 Microport Scientific Corp. 352,347 0.08 501,000 Ming Yuan Cloud Group Holdings Ltd. 133,554 0.03 234,000 Minth Group Ltd. 968,210 0.21 9,200 Nanjing Leads Biolabs Co. Ltd. 86,835 0.02 56,000 National Agricultural Holdings Ltd. - 149,000 NetDragon Websoft Holdings Ltd. 169,901 0.04 160,000 Newborn Town, Inc. 162,445 0.04 222,000 Nexteer Automotive Group Ltd. 142,428 0.03 71,000 NH Health 64,025 0.01 533,000 Nine Dragons Paper Holdings Ltd. 449,367 0.10 93,000 Ocumension Therapeutics 87,423 0.02 51,500 Onewo, Inc. 107,004 0.02 35,300 Phancy Group Co. Ltd. 158,306 0.03 273,433 Ping An Healthcare & Technology Co. Ltd. 401,769 0.09 624,844 Poly Property Group Co. Ltd. 139,471 0.03 45,600 Poly Property Services Co. Ltd. 181,465 0.04 33,000 Precision Tsugami China Corp. Ltd. 143,024 0.03 143,000 Q Technology Group Co. Ltd. 134,424 0.03 26,000 Qunabox Group Ltd. 54,917 0.01 227,000 Radiance Holdings Group Co. Ltd. 38,797 0.01 27,500 Real Gold Mining Ltd. - 76,800 REPT BATTERO Energy Co. Ltd. 156,143 0.03 84,900 RoboSense Technology Co. Ltd. 377,059 0.08 379,000 Sany Heavy Equipment International Holdings Co. Ltd. 534,164 0.12 580,000 Seazen Group Ltd. 150,915 0.03

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Hong Kong Dollar - 9.73% (continued) 56,000 Shandong BoAn Biotechnology Co. Ltd. 44,427 0.01 21,200 Shanghai Chicmax Cosmetic Co. Ltd. 142,501 0.03 65,000 Shanghai Conant Optical Co. Ltd. 386,674 0.08 20,000 Shanghai Henlius Biotech, Inc. 177,929 0.04 168,000 Shanghai Industrial Holdings Ltd. 301,064 0.06 104,000 Shanghai MicroPort MedBot Group Co. Ltd. 334,808 0.07 34,000 Shenzhen Dobot Corp. Ltd. 141,027 0.03 3,700 Shenzhen Hipine Precision Technology Co. Ltd. 49,222 0.01 536,754 Shenzhen International Holdings Ltd. 488,132 0.11 720,000 Shenzhen Investment Ltd. 64,284 0.01 788,000 Shoucheng Holdings Ltd. 167,848 0.04 528,464 Shougang Fushan Resources Group Ltd. 187,384 0.04 887,000 Shui On Land Ltd. 57,699 0.01 83,200 Sichuan Baicha Baidao Industrial Co. Ltd. 60,170 0.01 228,000 Sichuan Expressway Co. Ltd. 159,945 0.03 1,574,000 Sihuan Pharmaceutical Holdings Group Ltd. 273,034 0.06 287,000 Simcere Pharmaceutical Group Ltd. 464,899 0.10 918,000 Sinofert Holdings Ltd. 177,975 0.04 511,000 Sinopec Engineering Group Co. Ltd. 383,240 0.08 224,000 Sinopec Kantons Holdings Ltd. 116,568 0.03 180,000 Skyworth Group Ltd. 141,195 0.03 190,400 SMI Holdings Group Ltd. - 358,000 SSY Group Ltd. 112,329 0.02 76,000 Star Plus Legend Holdings Ltd. 57,095 0.01 567,500 Sun Art Retail Group Ltd. 113,642 0.02 2,639,000 Sunac China Holdings Ltd. 353,428 0.08 956,000 Sunac Services Holdings Ltd. 101,207 0.02 29,322 Sunshine Lake Pharma Co. Ltd. 168,298 0.04 120,500 SY Holdings Group Ltd. 141,246 0.03 58,600 Tanwan, Inc. 111,068 0.02 307,000 TCL Electronics Holdings Ltd. 499,645 0.11 364,812 Tiangong International Co. Ltd. 144,246 0.03 391,000 Tianli International Holdings Ltd. 111,213 0.02 180,000 Tianneng Power International Ltd. 169,434 0.04 168,000 Tong Ren Tang Technologies Co. Ltd. 84,641 0.02 484,000 Tongguan Gold Group Ltd. 178,409 0.04 913,000 Topsports International Holdings Ltd. 319,076 0.07 200,511 Towngas Smart Energy Co. Ltd. 86,187 0.02 316,000 TravelSky Technology Ltd. 389,750 0.08 53,100 Tuhu Car, Inc. 87,775 0.02 120,000 Wasion Holdings Ltd. 429,479 0.09

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Hong Kong Dollar - 9.73% (continued) 26,500 Weifu High-Technology Group Co. Ltd. 48,875 0.01 1,087,000 Weimob, Inc. 201,034 0.04 77,600 WellCell Holdings Co. Ltd. 183,108 0.04 83,200 WeRide, Inc. 214,574 0.05 564,000 West China Cement Ltd. 156,823 0.03 89,400 XD, Inc. 689,297 0.15 71,000 Xinhua Winshare Publishing & Media Co. Ltd. 94,181 0.02 216,000 Xinjiang Xinxin Mining Industry Co. Ltd. 56,478 0.01 142,800 Xinte Energy Co. Ltd. 94,348 0.02 521,167 Xinyi Energy Holdings Ltd. 79,104 0.02 560,192 Xtep International Holdings Ltd. 319,387 0.07 222,500 XXF Group Holdings Ltd. 32,069 0.01 96,728 Yantai Changyu Pioneer Wine Co. Ltd. 93,394 0.02 164,200 Yidu Tech, Inc. 102,832 0.02 205,000 Yihai International Holding Ltd. 426,724 0.09 529,000 Yixin Group Ltd. 143,717 0.03 6,392,000 Youzan Technology Ltd. 94,573 0.02 65,400 YSB, Inc. 42,542 0.01 341,000 Yuexiu Property Co. Ltd. 163,972 0.04 195,500 Yuexiu Transport Infrastructure Ltd. 96,750 0.02 316,000 Zai Lab Ltd. 552,180 0.12 335,100 ZhongAn Online P&C Insurance Co. Ltd. 544,951 0.12 230,000 Zhongsheng Group Holdings Ltd. 241,142 0.05 251,000 Zhongyu Energy Holdings Ltd. 86,119 0.02 38,500 Zylox-Tonbridge Medical Technology Co. Ltd. 114,122 0.02 45,194,519 9.73 Hungarian Forint - 0.15% 91,754 Magyar Telekom Telecommunications PLC 565,313 0.12 81,310 Opus Global Nyrt 113,657 0.03 678,970 0.15 Indian Rupee - 18.95% 68,256 360 ONE WAM Ltd. 683,361 0.15 1,001 3M India Ltd. 317,876 0.07 42,017 Aadhar Housing Finance Ltd. 198,836 0.04 68,753 Aarti Industries Ltd. 289,259 0.06 12,199 Aarti Pharmalabs Ltd. 76,134 0.02 11,085 Aavas Financiers Ltd. 125,986 0.03 22,832 ACC Ltd. 302,007 0.07 35,509 Acme Solar Holdings Ltd. 97,940 0.02 10,388 Action Construction Equipment Ltd. 82,026 0.02 14,260 Acutaas Chemicals Ltd. 384,672 0.08 110,905 Aditya Birla Fashion & Retail Ltd. 63,013 0.01

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 110,905 Aditya Birla Lifestyle Brands Ltd. 103,166 0.02 17,012 Aditya Birla Real Estate Ltd. 201,420 0.04 22,569 Aditya Birla Sun Life Asset Management Co. Ltd. 208,989 0.05 12,463 Aditya Vision Ltd. 62,822 0.01 43,764 Aegis Logistics Ltd. 276,222 0.06 18,210 Aether Industries Ltd. 210,133 0.05 40,026 Afcons Infrastructure Ltd. 114,615 0.02 22,263 Affle 3i Ltd. 340,134 0.07 7,076 Ahluwalia Contracts India Ltd. 48,891 0.01 14,002 AIA Engineering Ltd. 536,851 0.12 14,312 Ajanta Pharma Ltd. 423,270 0.09 2,026 Akzo Nobel India Ltd. 60,764 0.01 12,558 Alembic Pharmaceuticals Ltd. 87,814 0.02 10,523 Alivus Life Sciences Ltd. 107,916 0.02 3,080 Alkyl Amines Chemicals 39,993 0.01 15,384 Allied Blenders & Distillers Ltd. 65,535 0.01 312,629 Alok Industries Ltd. 36,850 0.01 37,179 Amara Raja Energy & Mobility Ltd. 263,588 0.06 6,599 Amber Enterprises India Ltd. 455,640 0.10 12,318 Anand Rathi Wealth Ltd. 394,207 0.09 36,997 Anant Raj Ltd. 158,249 0.03 136,050 Angel One Ltd. 326,367 0.07 5,773 Apar Industries Ltd. 601,410 0.13 99,180 Apollo Tyres Ltd. 431,128 0.09 96,700 Aptus Value Housing Finance India Ltd. 198,368 0.04 13,791 Archean Chemical Industries Ltd. 85,415 0.02 25,475 Arvind Fashions Ltd. 108,374 0.02 36,968 Arvind Ltd. 132,011 0.03 19,915 Asahi India Glass Ltd. 164,697 0.04 15,172 ASK Automotive Ltd. 71,142 0.02 71,398 Aster DM Healthcare Ltd. 504,347 0.11 12,509 Astra Microwave Products Ltd. 112,853 0.02 1,358 AstraZeneca Pharma India Ltd. 111,183 0.02 5,008 Atul Ltd. 336,256 0.07 5,550 AurionPro Solutions Ltd. 42,405 0.01 52,689 Authum Investment & Infrastructure Ltd. 238,784 0.05 15,552 Avalon Technologies Ltd. 152,161 0.03 8,775 Avanti Feeds Ltd. 108,798 0.02 646,387 AvenuesAI Ltd. 91,320 0.02 107,043 AWL Agri Business Ltd. 200,625 0.04 8,574 Azad Engineering Ltd. 134,148 0.03 10,302 Bajaj Electricals Ltd. 36,685 0.01 30,133 Balrampur Chini Mills Ltd. 157,926 0.03

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 11,346 Balu Forge Industries Ltd. 46,198 0.01 16,637 Banco Products India Ltd. 88,466 0.02 245,569 Bandhan Bank Ltd. 365,963 0.08 2,629 BASF India Ltd. 89,068 0.02 13,514 Bata India Ltd. 86,556 0.02 4,269 Bayer CropScience Ltd. 209,091 0.05 67,159 Belrise Industries Ltd. 131,693 0.03 10,236 BEML Ltd. 147,785 0.03 13,962 Bikaji Foods International Ltd. 91,553 0.02 173,043 Biocon Ltd. 658,430 0.14 6,244 Birla Corp. Ltd. 54,936 0.01 48,609 Birlasoft Ltd. 170,428 0.04 23,017 Black Box Ltd. 108,510 0.02 27,600 BlackBuck Ltd. 167,872 0.04 25,084 BLS International Services Ltd. 62,321 0.01 1,523 Blue Dart Express Ltd. 76,223 0.02 11,053 Blue Jet Healthcare Ltd. 38,135 0.01 41,592 Blue Star Ltd. 706,306 0.15 4,060 Bombay Burmah Trading Co. 56,588 0.01 11,292 Borosil Renewables Ltd. 44,883 0.01 39,852 BrainBees Solutions Ltd. 87,537 0.02 43,641 Brigade Enterprises Ltd. 299,418 0.06 18,540 Campus Activewear Ltd. 42,778 0.01 28,622 Can Fin Homes Ltd. 239,013 0.05 4,528 Caplin Point Laboratories Ltd. 71,838 0.02 62,755 Capri Global Capital Ltd. 110,155 0.02 42,759 Carborundum Universal Ltd. 349,695 0.08 14,202 Cartrade Tech Ltd. 247,060 0.05 141,097 Castrol India Ltd. 258,128 0.06 23,786 CCL Products India Ltd. 261,110 0.06 3,410 CE Info Systems Ltd. 28,801 0.01 7,139 Ceat Ltd. 244,054 0.05 18,355 Cello World Ltd. 75,182 0.02 20,546 Cemindia Projects Ltd. 110,681 0.02 32,657 Central Depository Services India Ltd. 385,416 0.08 17,698 Century Plyboards India Ltd. 130,894 0.03 1,578 Cera Sanitaryware Ltd. 75,910 0.02 219,622 CESC Ltd. 347,718 0.08 20,751 Chalet Hotels Ltd. 153,649 0.03 40,571 Chambal Fertilisers & Chemicals Ltd. 182,518 0.04 12,521 Chennai Petroleum Corp. Ltd. 127,700 0.03 18,115 Choice International Ltd. 116,522 0.03 30,087 Cholamandalam Financial Holdings Ltd. 433,087 0.09

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 44,037 CIE Automotive India Ltd. 206,608 0.04 88,642 City Union Bank Ltd. 224,155 0.05 11,385 Clean Science & Technology Ltd. 78,790 0.02 43,364 CMS Info Systems Ltd. 121,430 0.03 95,038 Coforge Ltd. 1,116,924 0.24 31,634 Cohance Lifesciences Ltd. 100,540 0.02 74,225 Computer Age Management Services Ltd. 489,727 0.11 6,799 Concord Biotech Ltd. 73,002 0.02 83,335 Container Corp. of India Ltd. 373,673 0.08 3,623 Craftsman Automation Ltd. 266,505 0.06 15,074 CreditAccess Grameen Ltd. 184,037 0.04 6,453 CRISIL Ltd. 255,892 0.06 220,026 Crompton Greaves Consumer Electricals Ltd. 518,698 0.11 13,478 CSB Bank Ltd. 48,385 0.01 30,483 Cyient Ltd. 241,955 0.05 7,321 Data Patterns India Ltd. 234,283 0.05 5,679 DCM Shriram Ltd. 66,850 0.01 22,845 Deepak Fertilisers & Petrochemicals Corp. Ltd. 218,939 0.05 20,251 Deepak Nitrite Ltd. 274,743 0.06 154,937 Delhivery Ltd. 680,686 0.15 107,599 Devyani International Ltd. 107,305 0.02 4,838 Dodla Dairy Ltd. 49,533 0.01 4,440 Doms Industries Ltd. 107,591 0.02 21,745 Dr. Agarwal’s Health Care Ltd. 93,206 0.02 26,562 Dr. Lal PathLabs Ltd. 367,448 0.08 884 Dynamatic Technologies Ltd. 83,974 0.02 8,860 eClerx Services Ltd. 129,581 0.03 184,035 Edelweiss Financial Services Ltd. 193,390 0.04 30,968 EID Parry India Ltd. 253,200 0.05 73,051 EIH Ltd. 210,684 0.05 19,694 Elecon Engineering Co. Ltd. 73,659 0.02 96,835 Electrosteel Castings Ltd. 75,192 0.02 68,056 Elgi Equipments Ltd. 335,190 0.07 72,057 Emami Ltd. 298,868 0.06 12,444 Endurance Technologies Ltd. 290,460 0.06 63,592 Engineers India Ltd. 122,110 0.03 4,012 Entero Healthcare Solutions Ltd. 52,781 0.01 36,194 EPL Ltd. 78,330 0.02 186,510 Equitas Small Finance Bank Ltd. 101,722 0.02 16,069 Eris Lifesciences Ltd. 219,768 0.05 1,116 ESAB India Ltd. 58,307 0.01 3,204 Ethos Ltd. 73,752 0.02

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 22,500 Eureka Forbes Ltd. 104,460 0.02 147,083 Exide Industries Ltd. 446,450 0.10 13,160 FDC Ltd. 44,552 0.01 552,349 Federal Bank Ltd. 1,510,609 0.33 1,611 Fine Organic Industries Ltd. 67,211 0.01 18,323 Finolex Cables Ltd. 150,005 0.03 70,135 Finolex Industries Ltd. 110,879 0.02 106,029 Firstsource Solutions Ltd. 228,482 0.05 60,995 Five-Star Business Finance Ltd. 226,974 0.05 1,454 Force Motors Ltd. 297,472 0.06 9,574 G R Infraprojects Ltd. 80,343 0.02 15,322 Gabriel India Ltd. 133,490 0.03 2,409 Galaxy Surfactants Ltd. 38,468 0.01 9,255 Garden Reach Shipbuilders & Engineers Ltd. 192,499 0.04 2,180 Garware Hi-Tech Films Ltd. 77,741 0.02 9,630 Garware Technical Fibres Ltd. 61,553 0.01 48,126 Genus Power Infrastructures Ltd. 109,040 0.02 16,045 GHCL Ltd. 71,556 0.02 1,555 Gillette India Ltd. 118,918 0.03 11,445 Gland Pharma Ltd. 204,661 0.04 14,156 GlaxoSmithKline Pharmaceuticals Ltd. 340,734 0.07 48,271 Glenmark Pharmaceuticals Ltd. 1,084,878 0.23 27,287 Global Health Ltd. 276,498 0.06 9,656 GMM Pfaudler Ltd. 80,731 0.02 51,155 GMR Power & Urban Infra Ltd. 48,400 0.01 87,737 Go Digit General Insurance Ltd. 301,233 0.07 65,705 Godawari Power & Ispat Ltd. 186,207 0.04 11,878 Godfrey Phillips India Ltd. 234,620 0.05 11,301 Godrej Agrovet Ltd. 63,708 0.01 33,861 Granules India Ltd. 221,483 0.05 14,248 Graphite India Ltd. 92,640 0.02 9,884 Gravita India Ltd. 137,357 0.03 36,273 Great Eastern Shipping Co. Ltd. 541,024 0.12 16,954 Greenlam Industries Ltd. 36,511 0.01 18,290 Grindwell Norton Ltd. 260,923 0.06 10,902 Gujarat Fluorochemicals Ltd. 348,076 0.08 31,478 Gujarat Gas Ltd. 101,969 0.02 20,101 Gujarat Mineral Development Corp. Ltd. 119,982 0.03 21,740 Gujarat Narmada Valley Fertilizers & Chemicals Ltd. 83,993 0.02 61,749 Gujarat Pipavav Port Ltd. 92,700 0.02 51,657 Gujarat State Fertilizers & Chemicals Ltd. 75,823 0.02 106,524 Gujarat State Petronet Ltd. 257,918 0.06

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 3,368 Gulf Oil Lubricants India Ltd. 31,585 0.01 8,021 Gulshan Chemfill Ltd. 1,789 0.00 20,857 Happiest Minds Technologies Ltd. 79,394 0.02 6,260 Happy Forgings Ltd. 76,302 0.02 34,166 HBL Engineering Ltd. 221,461 0.05 13,184 HealthCare Global Enterprises Ltd. (Class A) 73,003 0.02 775 HealthCare Global Enterprises Ltd. (Class H) 4,291 0.00 17,825 HEG Ltd. 101,934 0.02 37,899 Hexaware Technologies Ltd. 169,819 0.04 232,830 HFCL Ltd. 166,579 0.04 65,539 Himadri Speciality Chemical Ltd. 305,139 0.07 458,651 Hindustan Construction Co. Ltd. 66,393 0.01 94,423 Hindustan Copper Ltd. 451,464 0.10 8,889 Hindustan Foods Ltd. 47,735 0.01 26,339 Home First Finance Co. India Ltd. 251,258 0.05 37,296 Honasa Consumer Ltd. 117,277 0.03 723 Honeywell Automation India Ltd. 200,667 0.04 1,138 ICRA Ltd. 60,026 0.01 187,720 IFCI Ltd. 94,762 0.02 29,960 IIFL Capital Services Ltd. 77,120 0.02 74,578 IIFL Finance Ltd. 338,456 0.07 32,226 Indegene Ltd. 147,661 0.03 17,511 India Cements Ltd. 63,472 0.01 6,531 India Glycols Ltd. 58,456 0.01 11,759 India Shelter Finance Corp. Ltd. 93,559 0.02 11,820 IndiaMart InterMesh Ltd. 247,519 0.05 131,219 Indian Energy Exchange Ltd. 158,751 0.03 7,225 Indigo Paints Ltd. 54,144 0.01 19,221 Indo Count Industries Ltd. 50,571 0.01 177,692 Indraprastha Gas Ltd. 272,808 0.06 2,043 Ingersoll Rand India Ltd. 75,147 0.02 28,277 Inox Green Energy Services Ltd. 40,533 0.01 5,192 INOX India Ltd. 64,319 0.01 289,543 Inox Wind Ltd. 230,447 0.05 29,846 Intellect Design Arena Ltd. 188,345 0.04 26,045 International Gemmological Institute India Ltd. 87,308 0.02 12,577 Inventurus Knowledge Solutions Ltd. 176,147 0.04 21,386 ION Exchange India Ltd. 72,231 0.02 44,811 Ipca Laboratories Ltd. 756,482 0.16 1,137,834 IRB Infrastructure Developers Ltd. 265,598 0.06 89,033 IRCON International Ltd. 108,258 0.02

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 6,520 ISGEC Heavy Engineering Ltd. 59,272 0.01 196,200 ITC Hotels Ltd. 285,192 0.06 253,435 Jaiprakash Associates Ltd. 6,466 0.00 962,082 Jaiprakash Power Ventures Ltd. 142,412 0.03 135,626 Jammu & Kashmir Bank Ltd. 157,305 0.03 25,961 JB Chemicals & Pharmaceuticals Ltd. 565,046 0.12 11,750 JBM Auto Ltd. 63,830 0.01 60,015 Jindal Saw Ltd. 115,868 0.03 11,566 JK Cement Ltd. 619,463 0.13 15,733 JK Lakshmi Cement Ltd. 92,566 0.02 16,479 JK Paper Ltd. 53,234 0.01 27,319 JK Tyre & Industries Ltd. 109,709 0.02 88,597 JM Financial Ltd. 106,122 0.02 854 JSW Holdings Ltd. 101,761 0.02 25,211 Jubilant Ingrevia Ltd. 144,517 0.03 15,632 Jubilant Pharmova Ltd. 134,559 0.03 5,228 Jupiter Life Line Hospitals Ltd. 70,619 0.02 38,081 Jupiter Wagons Ltd. 95,595 0.02 45,718 Jyothy Labs Ltd. 95,076 0.02 25,178 Jyoti CNC Automation Ltd. 191,618 0.04 26,768 Kajaria Ceramics Ltd. 259,669 0.06 34,218 Kalpataru Projects International Ltd. 381,544 0.08 50,493 Kansai Nerolac Paints Ltd. 89,020 0.02 35,860 Karnataka Bank Ltd. 84,296 0.02 154,903 Karur Vysya Bank Ltd. 472,636 0.10 9,204 Kaynes Technology India Ltd. 332,804 0.07 45,963 KEC International Ltd. 247,772 0.05 18,734 KEI Industries Ltd. 797,563 0.17 27,730 Kfin Technologies Ltd. 256,268 0.06 6,523 Kirloskar Brothers Ltd. 92,093 0.02 15,185 Kirloskar Ferrous Industries Ltd. 55,850 0.01 24,746 Kirloskar Oil Engines Ltd. 346,709 0.07 9,396 Kirloskar Pneumatic Co. Ltd. 103,025 0.02 900 Kovai Medical Center & Hospital Ltd. 47,659 0.01 31,149 KPI Green Energy Ltd. 115,337 0.02 52,331 KPIT Technologies Ltd. 350,211 0.08 37,708 KPR Mill Ltd. 329,756 0.07 11,655 KRBL Ltd. 34,677 0.01 81,241 Krishna Institute of Medical Sciences Ltd. 532,335 0.11 18,062 KSB Ltd. 151,744 0.03 29,801 Latent View Analytics Ltd. 78,910 0.02 108,879 Laurus Labs Ltd. 1,139,543 0.25 40,767 Le Travenues Technology Ltd. 75,191 0.02

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 24,566 Leela Palaces Hotels & Resorts Ltd. 106,087 0.02 132,928 Lemon Tree Hotels Ltd. 140,736 0.03 100,953 LIC Housing Finance Ltd. 527,123 0.11 140,406 Lloyds Engineering Works Ltd. 55,852 0.01 1,236 LMW Ltd. 156,336 0.03 33,600 LT Foods Ltd. 128,698 0.03 9,509 Lumax Auto Technologies Ltd. 152,607 0.03 14,336 Mahanagar Gas Ltd. 140,218 0.03 698 Maharashtra Scooters Ltd. 81,752 0.02 11,757 Maharashtra Seamless Ltd. 69,434 0.02 184,901 Mahindra & Mahindra Financial Services Ltd. 557,732 0.12 15,504 Mahindra Holidays & Resorts India Ltd. 36,975 0.01 27,085 Mahindra Lifespace Developers Ltd. 84,026 0.02 164,644 Manappuram Finance Ltd. 435,874 0.09 3,758 Manorama Industries Ltd. 44,772 0.01 51,919 Marksans Pharma Ltd. 85,880 0.02 14,124 MAS Financial Services Ltd. 41,643 0.01 4,034 Mastek Ltd. 57,085 0.01 11,416 Max Estates Ltd. 37,161 0.01 84,515 Max Financial Services Ltd. 1,328,289 0.29 17,665 Medplus Health Services Ltd. 156,426 0.03 33,604 Metropolis Healthcare Ltd. 153,762 0.03 19,258 Minda Corp. Ltd. 102,667 0.02 10,257 Mishra Dhatu Nigam Ltd. 29,247 0.01 14,907 MOIL Ltd. 44,517 0.01 846,893 Motherson Sumi Wiring India Ltd. 329,476 0.07 46,022 Motilal Oswal Financial Services Ltd. 307,020 0.07 35,815 Mrs Bectors Food Specialities Ltd. 67,609 0.01 5,231 MTAR Technologies Ltd. 191,247 0.04 37,309 Multi Commodity Exchange of India Ltd. 939,877 0.20 22,967 Narayana Hrudayalaya Ltd. 388,713 0.08 21,804 Natco Pharma Ltd. 223,951 0.05 266,604 National Aluminium Co. Ltd. 1,085,263 0.23 22,552 National Securities Depository Ltd. 188,110 0.04 46,171 Nava Ltd. 258,702 0.06 10,074 Navin Fluorine International Ltd. 654,527 0.14 30,928 Nazara Technologies Ltd. 75,992 0.02 316,088 NBCC India Ltd. 258,339 0.06 156,086 NCC Ltd. 215,479 0.05 4,681 NESCO Ltd. 50,043 0.01 5,440 Netweb Technologies India Ltd. 177,730 0.04 145,417 Network18 Media & Investments Ltd. 42,192 0.01 2,322 Neuland Laboratories Ltd. 294,434 0.06

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 16,108 Newgen Software Technologies Ltd. 68,322 0.01 19,816 NIIT Learning Systems Ltd. 54,779 0.01 48,428 Nippon Life India Asset Management Ltd. 409,308 0.09 114,223 NLC India Ltd. 323,465 0.07 180,391 NMDC Steel Ltd. 63,142 0.01 23,163 Nuvama Wealth Management Ltd. 283,552 0.06 25,162 Nuvoco Vistas Corp. Ltd. 74,572 0.02 388,811 Ola Electric Mobility Ltd. 93,463 0.02 11,234 Olectra Greentech Ltd. 114,444 0.02 16,293 Onesource Specialty Pharma Ltd. 253,082 0.05 150,493 Paradeep Phosphates Ltd. 170,154 0.04 19,062 Paras Defence & Space Technologies Ltd. 119,639 0.03 554,182 PC Jeweller Ltd. 44,230 0.01 67,063 PCBL Chemical Ltd. 171,071 0.04 4,303 Pearl Global Industries Ltd. 61,427 0.01 23,255 PG Electroplast Ltd. 115,210 0.02 27,793 Piramal Finance Ltd. 537,553 0.12 200,917 Piramal Pharma Ltd. 289,231 0.06 58,228 PNB Housing Finance Ltd. 463,528 0.10 39,606 PNC Infratech Ltd. 67,041 0.01 8,934 Poly Medicure Ltd. 112,192 0.02 75,067 Poonawalla Fincorp Ltd. 291,566 0.06 3,442 Power Mech Projects Ltd. 62,882 0.01 32,528 Praj Industries Ltd. 109,074 0.02 25,000 Premier Energies Ltd. 235,019 0.05 24,104 Pricol Ltd. 130,598 0.03 29,114 Prism Johnson Ltd. 38,387 0.01 2,829 Privi Speciality Chemicals Ltd. 86,431 0.02 2,563 Procter & Gamble Health Ltd. 129,673 0.03 6,316 Prudent Corporate Advisory Services Ltd. 144,834 0.03 53,333 PTC India Ltd. 88,590 0.02 1,105 PTC Industries Ltd. 174,577 0.04 26,766 PVR Inox Ltd. 259,226 0.06 23,325 Radico Khaitan Ltd. 646,592 0.14 26,579 Railtel Corp. of India Ltd. 68,963 0.01 15,305 Rainbow Children’s Medicare Ltd. 187,680 0.04 19,742 Rallis India Ltd. 45,427 0.01 39,801 Ramco Cements Ltd. 386,098 0.08 24,216 Ramkrishna Forgings Ltd. 119,128 0.03 31,071 Rashtriya Chemicals & Fertilizers Ltd. 34,943 0.01 12,378 Rategain Travel Technologies Ltd. 57,180 0.01 7,890 Ratnamani Metals & Tubes Ltd. 183,157 0.04 756,874 RattanIndia Power Ltd. 60,327 0.01

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 7,864 Raymond Lifestyle Ltd. 62,652 0.01 157,577 RBL Bank Ltd. 481,376 0.10 182,798 Redington Ltd. 385,355 0.08 32,528 Redtape Ltd. 37,700 0.01 18,485 Relaxo Footwears Ltd. 46,364 0.01 829,217 Reliance Power Ltd. 177,998 0.04 19,324 Religare Enterprises Ltd. 41,185 0.01 15,429 Rhi Magnesita India Ltd. 54,958 0.01 25,210 RITES Ltd. 46,681 0.01 7,496 RR Kabel Ltd. 102,219 0.02 5,194 Safari Industries India Ltd. 78,363 0.02 554,560 Sagility Ltd. 233,579 0.05 45,455 SAI Life Sciences Ltd. 465,818 0.10 154,660 Sammaan Capital Ltd. 243,807 0.05 30,435 Sandur Manganese & Iron Ores Ltd. 55,153 0.01 2,513 Sanofi Consumer Healthcare India Ltd. 113,880 0.02 2,575 Sanofi India Ltd. 87,138 0.02 10,903 Sansera Engineering Ltd. 238,467 0.05 66,159 Sapphire Foods India Ltd. 104,921 0.02 23,300 Sarda Energy & Minerals Ltd. 125,443 0.03 40,302 Saregama India Ltd. 135,673 0.03 117,464 SBFC Finance Ltd. 100,251 0.02 12,729 Schneider Electric Infrastructure Ltd. 113,509 0.02 11,763 Senco Gold Ltd. 34,583 0.01 7,079 Shaily Engineering Plastics Ltd. 155,568 0.03 13,752 Shakti Pumps India Ltd. 66,688 0.01 4,892 Sharda Motor Industries Ltd. 36,516 0.01 9,438 Sheela Foam Ltd. 46,275 0.01 23,182 Shilpa Medicare Ltd. 85,275 0.02 44,082 Shipping Corp. of India Ltd. 102,108 0.02 148,085 Shree Renuka Sugars Ltd. 42,935 0.01 3,108 Shriram Pistons & Rings Ltd. 98,845 0.02 7,204 SignatureGlobal India Ltd. 54,245 0.01 246,313 SJVN Ltd. 164,514 0.04 7,144 SKF India Industrial Ltd. 156,906 0.03 7,683 SKF India Ltd. 114,513 0.02 16,752 Sobha Ltd. 209,716 0.05 133,253 Sona Blw Precision Forgings Ltd. 676,459 0.15 44,046 Sonata Software Ltd. 97,334 0.02 336,506 South Indian Bank Ltd. 121,406 0.03 23,401 Star Cement Ltd. 50,143 0.01 69,800 Star Health & Allied Insurance Co. Ltd. 336,678 0.07 27,688 Sterling & Wilson Renewable 43,461 0.01

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 19,792 Strides Pharma Science Ltd. 195,679 0.04 11,136 Sudarshan Chemical Industries Ltd. 87,774 0.02 33,165 Sumitomo Chemical India Ltd. 127,434 0.03 25,556 Sun TV Network Ltd. 152,759 0.03 31,432 Sundram Fasteners Ltd. 248,228 0.05 10,079 Sunteck Realty Ltd. 29,031 0.01 22,336 Suprajit Engineering Ltd. 94,220 0.02 15,469 Supreme Petrochem Ltd. 120,427 0.03 16,082 Surya Roshni Ltd. 31,890 0.01 30,383 Swan Corp. Ltd. 96,099 0.02 58,593 Syngene International Ltd. 240,861 0.05 21,474 Syrma SGS Technology Ltd. 175,032 0.04 21,693 Tamilnad Mercantile Bank Ltd. 132,515 0.03 20,554 Tanla Platforms Ltd. 81,795 0.02 48,143 Tata Chemicals Ltd. 296,044 0.06 10,235 Tata Elxsi Ltd. 429,110 0.09 39,373 Tata Investment Corp. Ltd. 224,639 0.05 27,019 Tata Technologies Ltd. 145,053 0.03 122,686 Tata Teleservices Maharashtra Ltd. 40,564 0.01 10,519 Tbo Tek Ltd. 117,258 0.03 26,964 TD Power Systems Ltd. 242,025 0.05 15,664 Techno Electric & Engineering Co. Ltd. 162,686 0.04 6,594 Tega Industries Ltd. 115,461 0.03 26,988 Tejas Networks Ltd. 109,902 0.02 62,283 Texmaco Rail & Engineering Ltd. 51,744 0.01 2,635 Thanga Mayil Jewellery Ltd. 95,175 0.02 12,613 Thermax Ltd. 433,608 0.09 41,417 Thomas Cook India Ltd. 39,225 0.01 27,438 Tilaknagar Industries Ltd. 120,385 0.03 55,418 Time Technoplast Ltd. 92,561 0.02 13,502 Timken India Ltd. 459,131 0.10 9,550 Tips Music Ltd. 49,709 0.01 19,046 Titagarh Rail System Ltd. 115,432 0.03 30,020 Transformers & Rectifiers India Ltd. 80,503 0.02 6,448 Transport Corp. of India Ltd. 62,747 0.01 8,937 Transrail Lighting Ltd. 42,589 0.01 282,410 Trident Ltd. 67,023 0.01 18,542 Triveni Engineering & Industries Ltd. 74,169 0.02 44,351 Triveni Turbine Ltd. 205,673 0.04 22,768 TSF Investments Ltd. 81,051 0.02 9,274 TTK Prestige Ltd. 41,917 0.01 1,298 TVS Holdings Ltd. 191,001 0.04 280,595 Ujjivan Small Finance Bank Ltd. 149,426 0.03

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indian Rupee - 18.95% (continued) 61,432 UNO Minda Ltd. 668,151 0.14 39,231 Usha Martin Ltd. 161,910 0.04 12,147 UTI Asset Management Co. Ltd. 120,044 0.03 40,790 V2 Retail Ltd. 81,323 0.02 12,313 VA Tech Wabag Ltd. 150,250 0.03 43,568 Valor Estate Ltd. 38,571 0.01 33,392 Vardhman Textiles Ltd. 184,371 0.04 7,767 Varroc Engineering Ltd. 38,275 0.01 14,775 Vedant Fashions Ltd. 54,677 0.01 28,830 Vesuvius India Ltd. 132,328 0.03 79,920 V-Guard Industries Ltd. 265,463 0.06 12,594 Vijaya Diagnostic Centre Ltd. 114,377 0.02 7,389 Vinati Organics Ltd. 103,167 0.02 19,082 VIP Industries Ltd. 60,808 0.01 11,924 V-Mart Retail Ltd. 59,992 0.01 2,017 Voltamp Transformers Ltd. 184,701 0.04 8,091 Waaree Renewable Technologies Ltd. 66,733 0.01 30,880 Welspun Corp. Ltd. 264,592 0.06 9,328 Welspun Enterprises Ltd. 40,887 0.01 95,588 Welspun Living Ltd. 109,164 0.02 18,488 Westlife Foodworld Ltd. 93,815 0.02 16,912 Whirlpool of India Ltd. 140,807 0.03 22,814 Wockhardt Ltd. 282,791 0.06 10,064 Yatharth Hospital & Trauma Care Services Ltd. 65,483 0.01 260,856 Zee Entertainment Enterprises Ltd. 198,402 0.04 13,738 Zen Technologies Ltd. 185,252 0.04 38,270 Zensar Technologies Ltd. 207,613 0.04 2,414 ZF Commercial Vehicle Control Systems India Ltd. 350,410 0.08 43,107 Zydus Wellness Ltd. 193,768 0.04 88,019,845 18.95 Indonesian Rupiah - 2.14% 339,300 Adaro Andalan Indonesia PT 225,109 0.05 2,123,800 AKR Corporindo Tbk. PT 175,583 0.04 2,753,000 Alamtri Resources Indonesia Tbk. PT 417,943 0.09 2,734,900 Aneka Tambang Tbk. PT 563,250 0.12 213,200 Astra Agro Lestari Tbk. PT 94,717 0.02 4,100,500 Avia Avian Tbk. PT 88,310 0.02 1,793,200 Bank Aladin Syariah Tbk. PT 55,924 0.01 1,150,400 Bank Jago Tbk. PT 89,354 0.02 1,192,775 Bank Tabungan Negara Persero Tbk. PT 88,083 0.02 2,257,300 BFI Finance Indonesia Tbk. PT 94,306 0.02 15,474,300 Bukalapak.com Tbk. PT 126,566 0.03

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indonesian Rupiah - 2.14% (continued) 1,053,800 Bukit Asam Persero Tbk. PT 197,186 0.04 29,476,900 Bumi Resources Tbk. PT 374,651 0.08 2,736,000 Bumi Serpong Damai Tbk. PT 119,135 0.02 3,388,031 Ciputra Development Tbk. PT 141,546 0.03 365,400 Cisarua Mountain Dairy Tbk. PT 93,315 0.02 6,184,800 Dayamitra Telekomunikasi PT 198,342 0.04 694,900 Dharma Satya Nusantara Tbk. PT 69,104 0.01 2,952,600 Elang Mahkota Teknologi Tbk. PT 132,910 0.03 3,613,300 Energi Mega Persada Tbk. PT 324,239 0.07 2,080,800 ESSA Industries Indonesia Tbk. PT 86,932 0.02 154,200 Gudang Garam Tbk. PT 127,937 0.03 8,809,300 Hanson International Tbk. PT - 797,500 Indah Kiat Pulp & Paper Tbk. PT 476,308 0.10 97,398 Indo Tambangraya Megah Tbk. PT 170,358 0.04 304,900 Indocement Tunggal Prakarsa Tbk. PT 90,603 0.02 1,160,000 Indofood Sukses Makmur Tbk. PT 433,434 0.09 1,602,411 Industri Jamu Dan Farmasi Sido Muncul Tbk. PT 48,559 0.01 2,297,600 Inti Agri Resources Tbk. PT - 1,325,100 Japfa Comfeed Indonesia Tbk. PT 183,235 0.04 409,200 Jasa Marga Persero Tbk. PT 73,921 0.02 5,454,600 Kalbe Farma Tbk. PT 311,334 0.07 2,691,300 Map Aktif Adiperkasa PT 98,977 0.02 848,960 MD Entertainment Tbk. PT 153,362 0.03 1,441,212 Medco Energi Internasional Tbk. PT 154,768 0.03 3,445,500 Medikaloka Hermina Tbk. PT 266,606 0.06 2,987,600 Merdeka Copper Gold Tbk. PT 552,006 0.12 2,421,300 Midi Utama Indonesia Tbk. PT 43,028 0.01 2,439,200 Mitra Adiperkasa Tbk. PT 172,952 0.04 2,052,200 Mitra Keluarga Karyasehat Tbk. PT 252,382 0.05 2,128,100 MNC Digital Entertainment Tbk. PT 78,890 0.02 15,848,000 MNC Tourism Indonesia Tbk. PT 94,186 0.02 420,300 Pabrik Kertas Tjiwi Kimia Tbk. PT 220,111 0.05 1,855,700 Pacific Strategic Financial Tbk. PT 123,935 0.03 4,150,900 Pakuwon Jati Tbk. PT 82,556 0.02 3,705,200 Perusahaan Gas Negara Persero Tbk. PT 402,253 0.09 908,300 Petrosea Tbk. PT 237,838 0.05 266,500 Raharja Energi Cepu PT 76,055 0.02 409,600 Rukun Raharja Tbk. PT 87,490 0.02 4,073,100 Sarana Menara Nusantara Tbk. PT 116,960 0.02 939,000 Sawit Sumbermas Sarana Tbk. PT 80,670 0.02 878,700 Semen Indonesia Persero Tbk. PT 127,194 0.03 1,221,800 Solusi Sinergi Digital Tbk. PT 153,134 0.03 2,624,700 Trada Alam Minera Tbk. PT - -

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Indonesian Rupiah - 2.14% (continued) 252,100 Transcoal Pacific Tbk. PT 166,514 0.03 633,500 Triputra Agro Persada PT 70,826 0.01 690,300 Vale Indonesia Tbk. PT 217,312 0.05 1,322,625 Waskita Karya Persero Tbk. PT 7,860 0.00 5,876,300 Wijaya Karya Persero Tbk. PT 35,269 0.01 1,223,054 XLSMART Telecom Sejahtera Tbk. PT 212,304 0.04 9,957,632 2.14 Kuwaiti Dinar - 0.94% 359,333 Agility Public Warehousing Co. KSCC 146,240 0.03 422,771 Al Ahli Bank of Kuwait KSCP 401,469 0.09 33,472 Ali Alghanim Sons Automotive Co. KSCC 116,655 0.02 60,744 Arabi Group Holding KSC 56,653 0.01 113,977 Arzan Financial Group for Financing & Investment KPSC 122,223 0.03 142,936 Boubyan Petrochemicals Co. KSCP 256,232 0.05 34,302 Boursa Kuwait Securities Co. KPSC 299,145 0.06 420,176 Burgan Bank SAK 285,003 0.06 508,298 Commercial Real Estate Co. KSC 297,164 0.06 23,406 Gulf Cables & Electrical Industries Group Co. KSCP 150,824 0.03 27,972 Humansoft Holding Co. KSC 218,102 0.05 15,712 Jazeera Airways Co. KSCP 75,109 0.02 196,596 Kuwait International Bank KSCP 179,705 0.04 635,238 Kuwait Projects Co. Holding KSCP 155,322 0.03 248,927 Kuwait Real Estate Co. KSC 273,369 0.06 84,204 Kuwait Telecommunications Co. 182,496 0.04 33,028 Mezzan Holding Co. KSCC 121,508 0.03 731,242 National Industries Group Holding SAK 540,874 0.12 100,913 National Investments Co. KSCP 90,613 0.02 349,330 National Real Estate Co. KPSC 77,855 0.02 219,708 Salhia Real Estate Co. KSCP 280,312 0.06 121,055 Shamal Az-Zour Al-Oula for the First Phase of Az-Zour Power Plant KSC 53,177 0.01 4,380,050 0.94 Malaysian Ringgit - 2.68% 46,200 AEON Credit Service M Bhd. 61,729 0.01 94,761 AFFIN Bank Bhd. 57,807 0.01 351,947 Alliance Bank Malaysia Bhd. 418,964 0.09 167,200 Bank Islam Malaysia Bhd. 99,106 0.02 133,200 Bursa Malaysia Bhd. 279,954 0.06 36,100 Carlsberg Brewery Malaysia Bhd. 150,142 0.03 1,046,600 Dialog Group Bhd. 566,079 0.12 305,900 Eco World Development Group Bhd. 153,366 0.03 207,000 ECO-Shop Marketing Bhd. 65,950 0.01

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Malaysian Ringgit - 2.68% (continued) 277,200 Farm Fresh Bhd. 164,992 0.04 50,000 Fraser & Neave Holdings Bhd. 370,462 0.08 428,650 Frontken Corp. Bhd. 395,937 0.09 62,900 Gas Malaysia Bhd. 93,208 0.02 633,100 Genting Bhd. 348,682 0.08 710,000 Genting Malaysia Bhd. 312,126 0.07 48,800 Genting Plantations Bhd. 63,275 0.01 238,900 Greatech Technology Bhd. 107,384 0.02 208,400 HAP Seng Consolidated Bhd. 138,968 0.03 437,300 Hartalega Holdings Bhd. 124,202 0.03 37,735 Heineken Malaysia Bhd. 210,623 0.05 537,800 Hextar Global Bhd. 108,915 0.02 22,800 Hong Leong Industries Bhd. 94,263 0.02 771,400 IJM Corp. Bhd. 417,230 0.09 593,400 Inari Amertron Bhd. 189,056 0.04 394,800 IOI Properties Group Bhd. 323,718 0.07 151,300 ITMAX SYSTEM Bhd. 166,284 0.04 211,900 Johor Plantations Group Bhd. 96,818 0.02 121,500 Kelington Group Bhd. 148,537 0.03 364,900 Kossan Rubber Industries Bhd. 108,145 0.02 694,000 KPJ Healthcare Bhd. 586,189 0.13 81,400 KSL Holdings Bhd. 59,708 0.01 380,700 Mah Sing Group Bhd. 94,023 0.02 479,700 Malakoff Corp. Bhd. 93,594 0.02 113,900 Malayan Cement Bhd. 170,189 0.04 25,100 Malaysian Pacific Industries Bhd. 178,409 0.04 370,050 Matrix Concepts Holdings Bhd. 116,069 0.03 742,664 MBSB Bhd. 119,222 0.03 226,100 Mega First Corp. Bhd. 159,705 0.03 271,600 Nationgate Holdings Bhd. 43,601 0.01 36,800 Oriental Holdings Bhd. 64,984 0.01 269,550 OSK Holdings Bhd. 105,184 0.02 201,500 PPB Group Bhd. 597,184 0.13 70,500 Sam Engineering & Equipment M Bhd. 55,543 0.01 182,700 Scientex Bhd. 152,964 0.03 800,800 Sime Darby Bhd. 446,977 0.10 1,058,200 Sime Darby Property Bhd. 326,686 0.07 640,198 SP Setia Bhd. Group 136,767 0.03 138,500 Sunway Construction Group Bhd. 217,892 0.05 300,000 Sunway Healthcare Holdings Bhd. 148,185 0.03 97,500 Syarikat Takaful Malaysia Keluarga Bhd. 79,464 0.02 608,640 Tanco Holdings Bhd. 217,962 0.05 363,800 TIME dotCom Bhd. 531,010 0.11

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Malaysian Ringgit - 2.68% (continued) 1,373,300 Top Glove Corp. Bhd. 234,027 0.05 451,400 UEM Sunrise Bhd. 50,725 0.01 103,200 Unisem M Bhd. 66,523 0.01 86,700 United Plantations Bhd. 728,032 0.16 88,400 UWC Bhd. 88,422 0.02 170,600 ViTrox Corp. Bhd. 176,962 0.04 362,654 Yinson Holdings Bhd. 201,524 0.04 2,015,349 Zetrix Ai Bhd. 368,328 0.08 12,451,976 2.68 Mexican Peso - 1.56% 533,919 Alpek SAB de CV 337,075 0.07 174,629 Alsea SAB de CV 559,947 0.12 224,296 Banco del Bajio SA 691,232 0.15 158,474 Bolsa Mexicana de Valores SAB de CV 333,084 0.07 291,238 Controladora Vuela Cia de Aviacion SAB de CV 210,339 0.05 271,923 Corp. Inmobiliaria Vesta SAB de CV 904,476 0.20 53,660 GCC SAB de CV 566,982 0.12 153,139 Genomma Lab Internacional SAB de CV 153,805 0.03 342,019 Gentera SAB de CV 960,569 0.21 759,600 Grupo Televisa SAB 438,291 0.09 80,846 La Comer SAB de CV 190,806 0.04 130,456 Megacable Holdings SAB de CV 450,267 0.10 171,300 Orbia Advance Corp. SAB de CV 204,992 0.04 57,836 Qualitas Controladora SAB de CV 551,480 0.12 80,146 Regional SAB de CV 684,161 0.15 7,237,506 1.56 New Russian Ruble - 0.00% 239,395 Aeroflot PJSC - 2,566,636 Credit Bank of Moscow PJSC - 3,411,466 Mosenergo PJSC - 237,294 Rostelecom PJSC - 763,000 Sistema AFK PAO - 3,563,185 Unipro PAO - - New Taiwan Dolar - 22.24% 73,996 Ability Enterprise Co. Ltd. 154,380 0.03 19,000 Ability Opto-Electronics Technology Co. Ltd. 54,855 0.01 2,000 AblePrint Technology Co. Ltd. 134,501 0.03 237,183 AcBel Polytech, Inc. 338,303 0.07 896,000 Acer, Inc. 763,716 0.16 26,000 Acter Group Corp. Ltd. 559,525 0.12 85,693 ADATA Technology Co. Ltd. 897,940 0.19

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) New Taiwan Dolar - 22.24% (continued) 19,000 Advanced Echem Materials Co. Ltd. 474,257 0.10 9,000 Advanced Energy Solution Holding Co. Ltd. 277,291 0.06 48,077 Advanced Wireless Semiconductor Co. 177,450 0.04 9,000 Airoha Technology Corp. 130,622 0.03 26,000 All Ring Tech Co. Ltd. 658,743 0.14 9,000 Allied Supreme Corp. 60,948 0.01 56,207 Allis Electric Co. Ltd. 178,449 0.04 113,846 Alpha Networks, Inc. 124,814 0.03 31,000 Ambassador Hotel 40,677 0.01 35,000 AP Memory Technology Corp. 483,891 0.10 5,000 Apex Dynamics, Inc. 97,591 0.02 55,668 Arcadyan Technology Corp. 264,671 0.06 123,666 Ardentec Corp. 601,503 0.13 70,000 Asia Optical Co., Inc. 264,936 0.06 10,000 ASMedia Technology, Inc. 333,125 0.07 16,000 ASROCK, Inc. 101,095 0.02 1,894,000 AUO Corp. 859,024 0.19 19,000 AURAS Technology Co. Ltd. 522,396 0.11 151,050 Bank of Kaohsiung Co. Ltd. 56,933 0.01 536,590 BES Engineering Corp. 221,551 0.05 18,465 Bora Pharmaceuticals Co. Ltd. 253,554 0.05 81,000 Brighton-Best International Taiwan, Inc. 85,763 0.02 27,000 C Sun Manufacturing Ltd. 342,039 0.07 549,390 Capital Securities Corp. 470,857 0.10 122,900 Cathay Real Estate Development Co. Ltd. 86,880 0.02 185,078 Center Laboratories, Inc. 234,459 0.05 64,000 Central Reinsurance Co. Ltd. 61,558 0.01 52,000 Century Iron & Steel Industrial Co. Ltd. 182,171 0.04 101,000 Chang Wah Electromaterials, Inc. 134,424 0.03 98,500 Chang Wah Technology Co. Ltd. 143,883 0.03 46,563 Charoen Pokphand Enterprise 196,622 0.04 15,000 Chenbro Micom Co. Ltd. 406,788 0.09 180,560 Cheng Loong Corp. 109,567 0.02 400,000 Cheng Shin Rubber Industry Co. Ltd. 389,115 0.08 94,000 Cheng Uei Precision Industry Co. Ltd. 101,292 0.02 40,000 Chenming Electronic Technology Corp. 120,488 0.03 200,000 Chicony Electronics Co. Ltd. 747,576 0.16 50,000 Chicony Power Technology Co. Ltd. 113,075 0.02 14,200 Chief Telecom, Inc. 154,570 0.03 144,927 China Bills Finance Corp. 76,158 0.02 73,600 China Motor Corp. 127,540 0.03 1,234,929 China Petrochemical Development Corp. 314,044 0.07 40,000 China Steel Chemical Corp. 110,103 0.02

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) New Taiwan Dolar - 22.24% (continued) 207,000 Chipbond Technology Corp. 450,000 0.10 177,000 ChipMOS Technologies, Inc. 296,753 0.06 43,328 Chong Hong Construction Co. Ltd. 105,711 0.02 261,000 Chung Hung Steel Corp. 146,950 0.03 128,000 Chung-Hsin Electric & Machinery Manufacturing Corp. 572,537 0.12 6,000 Chunghwa Precision Test Tech Co. Ltd. 578,042 0.12 200,000 Cleanaway Co. Ltd. 183,922 0.04 87,000 Clevo Co. 101,505 0.02 296,000 Compeq Manufacturing Co. Ltd. 2,296,153 0.49 93,000 Continental Holdings Corp. 64,288 0.01 74,400 Coretronic Corp. 170,350 0.04 347,638 CSBC Corp. Taiwan 221,283 0.05 194,733 CTCI Corp. 215,930 0.05 10,000 CyberPower Systems, Inc. 52,549 0.01 65,529 Da-Li Development Co. Ltd. 96,029 0.02 14,000 Daxin Materials Corp. 144,510 0.03 76,000 Delpha Construction Co. Ltd. 58,480 0.01 24,000 Depo Auto Parts Ind Co. Ltd. 99,468 0.02 14,000 Dong Fang Offshore Co. Ltd. 56,709 0.01 78,206 Dynamic Holding Co. Ltd. 428,090 0.09 44,000 Dynapack International Technology Corp. 474,820 0.10 52,000 Eclat Textile Co. Ltd. 536,753 0.12 7,000 ECOVE Environment Corp. 63,169 0.01 42,000 EirGenix, Inc. 71,992 0.02 94,900 Elan Microelectronics Corp. 362,146 0.08 30,000 Elite Advanced Laser Corp. 227,088 0.05 69,000 Elite Semiconductor Microelectronics Technology, Inc. 323,741 0.07 36,373 Ennoconn Corp. 308,323 0.07 168,000 Ennostar, Inc. 239,362 0.05 276,086 Eternal Materials Co. Ltd. 497,421 0.11 62,000 Evergreen Aviation Technologies Corp. 283,140 0.06 49,500 Evergreen International Storage & Transport Corp. 78,190 0.02 58,000 EVERGREEN Steel Corp. 175,615 0.04 108,000 Everlight Electronics Co. Ltd. 225,662 0.05 231,000 Far Eastern Department Stores Ltd. 164,019 0.04 980,487 Far Eastern International Bank 381,829 0.08 70,435 Faraday Technology Corp. 310,645 0.07 65,363 Farglory Land Development Co. Ltd. 144,138 0.03 172,000 Feng Hsin Steel Co. Ltd. 330,335 0.07 120,000 Feng TAY Enterprise Co. Ltd. 300,657 0.06 19,000 First Hi-Tec Enterprise Co. Ltd. 159,274 0.03

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) New Taiwan Dolar - 22.24% (continued) 35,970 Fitipower Integrated Technology, Inc. 171,018 0.04 97,607 FLEXium Interconnect, Inc. 174,636 0.04 35,000 Formosa Advanced Technologies Co. Ltd. 63,716 0.01 10,000 Formosa International Hotels Corp. 57,398 0.01 18,000 Formosa Sumco Technology Corp. 73,475 0.02 224,000 Formosa Taffeta Co. Ltd. 115,608 0.03 14,000 Fositek Corp. 766,343 0.17 293,000 Foxconn Technology Co. Ltd. 462,825 0.10 36,300 Foxsemicon Integrated Technology, Inc. 328,142 0.07 40,389 Fulgent Sun International Holding Co. Ltd. 97,530 0.02 125,000 Fulltech Fiber Glass Corp. 374,570 0.08 28,000 Fusheng Precision Co. Ltd. 225,086 0.05 41,000 G Shank Enterprise Co. Ltd. 104,520 0.02 30,525 Genius Electronic Optical Co. Ltd. 417,726 0.09 122,000 Getac Holdings Corp. 372,068 0.08 34,000 GFC Ltd. 123,897 0.03 109,000 Giant Manufacturing Co. Ltd. 245,139 0.05 98,587 Global Brands Manufacture Ltd. 271,677 0.06 17,000 Global Mixed Mode Technology, Inc. 119,643 0.03 134,000 Gloria Material Technology Corp. 132,868 0.03 308,851 Goldsun Building Materials Co. Ltd. 345,851 0.07 6,000 Grand Process Technology Corp. 516,109 0.11 40,000 Grape King Bio Ltd. 151,392 0.03 204,776 Great Wall Enterprise Co. Ltd. 347,805 0.07 74,000 Greatek Electronics, Inc. 195,590 0.04 17,825 Gudeng Precision Industrial Co. Ltd. 209,919 0.05 64,291 Hannstar Board Corp. 160,275 0.03 586,965 HannStar Display Corp. 146,145 0.03 26,636 HD Renewable Energy Co. Ltd. 68,569 0.01 13,000 Heron Neutron Medical Corp. 133,578 0.03 419,478 Highwealth Construction Corp. 456,610 0.10 92,000 Hiwin Technologies Corp. 657,554 0.14 53,942 Hota Industrial Manufacturing Co. Ltd. 83,014 0.02 62,730 Hotai Finance Co. Ltd. 121,457 0.03 212,000 HTC Corp. 259,944 0.06 73,000 HUA ENG Wire & Cable Co. Ltd. 71,128 0.02 64,479 Huaku Development Co. Ltd. 242,023 0.05 52,098 Hwang Chang General Contractor Co. Ltd. 94,190 0.02 808,977 IBF Financial Holdings Co. Ltd. 377,033 0.08 57,000 I-Chiun Precision Industry Co. Ltd. 236,237 0.05 19,468 Innodisk Corp. 515,777 0.11 8,000 Intelligo Technology, Inc. 88,958 0.02 45,000 ITE Technology, Inc. 161,167 0.03

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) New Taiwan Dolar - 22.24% (continued) 61,063 ITEQ Corp. 283,636 0.06 100,000 ITH Corp. 102,283 0.02 184,960 Jinan Acetate Chemical Co. Ltd. 243,277 0.05 32,000 Johnson Health Tech Co. Ltd. 121,114 0.03 21,000 JPC connectivity, Inc. 104,113 0.02 58,507 JSL Construction & Development Co. Ltd. 87,843 0.02 30,000 Kaori Heat Treatment Co. Ltd. 793,869 0.17 146,350 Kenda Rubber Industrial Co. Ltd. 83,086 0.02 53,000 Kenmec Mechanical Engineering Co. Ltd. 88,527 0.02 87,670 Kindom Development Co. Ltd. 87,204 0.02 34,000 Kinik Co. 452,518 0.10 399,960 Kinpo Electronics 269,601 0.06 105,685 Kinsus Interconnect Technology Corp. 1,034,701 0.22 54,017 L&K Engineering Co. Ltd. 885,358 0.19 14,000 Lai Yih Footwear Co. Ltd. 70,285 0.02 23,000 LandMark Optoelectronics Corp. 1,133,094 0.24 35,134 Lian HWA Food Corp. 101,435 0.02 364,285 Lien Hwa Industrial Holdings Corp. 513,326 0.11 35,000 Longwell Co. 209,650 0.05 45,000 Lotus Pharmaceutical Co. Ltd. 291,367 0.06 23,504 Lumosa Therapeutics Co. Ltd. 105,132 0.02 50,000 Lung Yen Life Service Corp. 73,272 0.02 31,000 LuxNet Corp. 331,139 0.07 7,360 M31 Technology Corp. 109,353 0.02 9,900 Machvision, Inc. 235,346 0.05 533,000 Macronix International Co. Ltd. 1,925,602 0.41 68,155 Makalot Industrial Co. Ltd. 484,994 0.10 26,000 Marketech International Corp. 222,021 0.05 13,000 Mega Union Technology, Inc. 308,633 0.07 936,656 Mercuries Life Insurance Co. Ltd. 223,836 0.05 66,000 Merida Industry Co. Ltd. 133,982 0.03 91,850 Merry Electronics Co. Ltd. 239,896 0.05 226,000 Micro-Star International Co. Ltd. 600,876 0.13 275,351 Mitac Holdings Corp. 635,624 0.14 22,650 momo.com, Inc. 125,400 0.03 25,000 MPI Corp. 2,811,229 0.61 37,000 Myson Century, Inc. 88,652 0.02 146,525 Nan Kang Rubber Tire Co. Ltd. 161,329 0.03 19,000 Nan Pao Resins Chemical Co. Ltd. 183,344 0.04 65,000 Nan Ya Printed Circuit Board Corp. 1,061,307 0.23 375,000 Nanya Technology Corp. 2,328,355 0.50 51,000 Nichidenbo Corp. 144,370 0.03 48,000 Nien Made Enterprise Co. Ltd. 495,464 0.11

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) New Taiwan Dolar - 22.24% (continued) 65,000 Nuvoton Technology Corp. 180,951 0.04 260,009 O-Bank Co. Ltd. 81,329 0.02 85,694 Oneness Biotech Co. Ltd. 139,651 0.03 134,000 Orient Semiconductor Electronics Ltd. 209,571 0.05 5,000 Pan German Universal Motors Ltd. 36,284 0.01 108,900 Pan Jit International, Inc. 294,306 0.06 105,578 Pan-International Industrial Corp. 142,004 0.03 24,000 Parade Technologies Ltd. 357,335 0.08 9,000 Pegavision Corp. 77,979 0.02 6,410 Pharmally International Holding Co. Ltd. - 50,000 Phison Electronics Corp. 2,345,949 0.51 39,000 Phoenix Silicon International Corp. 220,801 0.05 45,150 Pixart Imaging, Inc. 249,970 0.05 91,289 Polaris Group 54,682 0.01 715,000 Pou Chen Corp. 632,921 0.14 932,000 Powerchip Semiconductor Manufacturing Corp. 1,547,989 0.33 203,000 Powertech Technology, Inc. 1,187,394 0.26 16,036 Poya International Co. Ltd. 247,537 0.05 190,317 President Securities Corp. 189,603 0.04 146,000 Primax Electronics Ltd. 319,675 0.07 413,240 Qisda Corp. 294,064 0.06 48,000 Quanta Storage, Inc. 130,022 0.03 134,000 Radiant Opto-Electronics Corp. 383,097 0.08 30,000 Raydium Semiconductor Corp. 205,505 0.04 482,000 Ruentex Development Co. Ltd. 374,654 0.08 27,120 Ruentex Engineering & Construction Co. 127,244 0.03 223,600 Ruentex Industries Ltd. 327,672 0.07 87,986 Run Long Construction Co. Ltd. 83,940 0.02 124,087 Sakura Development Co. Ltd. 185,917 0.04 195,380 Sanyang Motor Co. Ltd. 356,292 0.08 13,000 Scientech Corp. 184,407 0.04 87,000 Sercomm Corp. 204,098 0.04 75,000 Shihlin Electric & Engineering Corp. 418,752 0.09 50,565 Shin Zu Shing Co. Ltd. 302,093 0.07 53,000 Shinkong Insurance Co. Ltd. 193,963 0.04 351,938 Shinkong Synthetic Fibers Corp. 170,080 0.04 39,597 Shiny Chemical Industrial Co. Ltd. 168,445 0.04 11,000 ShunSin Technology Holding Ltd. 101,845 0.02 137,726 Sigurd Microelectronics Corp. 644,042 0.14 106,000 Silergy Corp. 931,686 0.20 100,650 Silicon Integrated Systems Corp. 145,765 0.03 52,000 Simplo Technology Co. Ltd. 541,633 0.12 78,000 Sinbon Electronics Co. Ltd. 612,387 0.13

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) New Taiwan Dolar - 22.24% (continued) 135,000 Sincere Navigation Corp. 177,354 0.04 170,000 Sino-American Silicon Products, Inc. 571,630 0.12 80,000 Sinon Corp. 110,854 0.02 36,000 Sitronix Technology Corp. 215,077 0.05 191,347 Solar Applied Materials Technology Corp. 535,676 0.12 32,000 Solomon Technology Corp. 107,601 0.02 17,435 Sporton International, Inc. 103,072 0.02 32,000 Sports Gear Co. Ltd. 87,182 0.02 109,000 Standard Foods Corp. 104,840 0.02 309,000 Starlux Airlines Co. Ltd. 202,488 0.04 74,674 Sunonwealth Electric Machine Industry Co. Ltd. 287,298 0.06 176,691 Supreme Electronics Co. Ltd. 407,323 0.09 4,840 Synmosa Biopharma Corp. 4,678 0.00 385,000 Synnex Technology International Corp. 912,825 0.20 11,000 Syntec Technology Co. Ltd. 435,252 0.09 43,720 Systex Corp. 143,591 0.03 591,146 TA Chen Stainless Pipe 681,380 0.15 242,383 Ta Ya Electric Wire & Cable 239,957 0.05 1,315,275 Taichung Commercial Bank Co. Ltd. 845,446 0.18 43,845 TaiMed Biologics, Inc. 70,355 0.02 417,475 Tainan Spinning Co. Ltd. 165,188 0.04 71,657 Taiwan Acceptance Corp. 172,586 0.04 175,702 Taiwan Cogeneration Corp. 237,420 0.05 208,000 Taiwan Fertilizer Co. Ltd. 296,028 0.06 319,418 Taiwan Glass Industry Corp. 518,542 0.11 105,980 Taiwan Hon Chuan Enterprise Co. Ltd. 382,881 0.08 71,820 Taiwan Paiho Ltd. 103,900 0.02 35,000 Taiwan Sakura Corp. 96,340 0.02 60,225 Taiwan Secom Co. Ltd. 213,811 0.05 50,470 Taiwan Shin Kong Security Co. Ltd. 64,331 0.01 23,000 Taiwan Speciality Chemicals Corp. 197,842 0.04 99,000 Taiwan Surface Mounting Technology Corp. 286,440 0.06 72,000 Taiwan Union Technology Corp. 1,281,451 0.28 427,300 Tatung Co. Ltd. 417,008 0.09 45,000 Test Research, Inc. 359,634 0.08 16,000 Thinking Electronic Industrial Co. Ltd. 74,820 0.02 32,000 Tigerair Taiwan Co. Ltd. 49,196 0.01 156,850 Ton Yi Industrial Corp. 89,292 0.02 54,150 Tong Hsing Electronic Industries Ltd. 237,975 0.05 128,699 Tong Yang Industry Co. Ltd. 324,465 0.07 57,044 Topco Scientific Co. Ltd. 543,319 0.12 59,000 Transcend Information, Inc. 389,396 0.08

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) New Taiwan Dolar - 22.24% (continued) 136,000 Tripod Technology Corp. 1,439,975 0.31 27,000 Ttet Union Corp. 125,837 0.03 45,834 TTY Biopharm Co. Ltd. 104,370 0.02 176,124 Tung Ho Steel Enterprise Corp. 373,513 0.08 86,379 TXC Corp. 250,464 0.05 159,000 U-Ming Marine Transport Corp. 288,458 0.06 231,741 Union Bank of Taiwan 148,961 0.03 170,791 Unitech Printed Circuit Board Corp. 392,654 0.08 52,800 United Integrated Services Co. Ltd. 1,355,921 0.29 115,648 Universal Cement Corp. 106,170 0.02 18,000 Universal Microwave Technology, Inc. 802,315 0.17 24,000 UPI Semiconductor Corp. 121,239 0.03 71,721 Via Technologies, Inc. 117,105 0.03 39,000 VisEra Technologies Co. Ltd. 370,848 0.08 63,687 Visual Photonics Epitaxy Co. Ltd. 491,049 0.11 19,000 Voltronic Power Technology Corp. 430,278 0.09 56,300 Wah Lee Industrial Corp. 204,279 0.04 941,294 Walsin Lihwa Corp. 887,708 0.19 98,000 Walsin Technology Corp. 358,649 0.08 108,000 Win Semiconductors Corp. 1,187,426 0.26 949,000 Winbond Electronics Corp. 2,677,504 0.58 89,000 Wintek Corp. - 7,000 WinWay Technology Co. Ltd. 1,565,530 0.34 104,850 Wisdom Marine Lines Co. Ltd. 219,736 0.05 84,000 Wiselink Co. Ltd. 211,511 0.05 114,175 WNC Corp. 607,124 0.13 17,094 Wowprime Corp. 122,176 0.03 487,000 WPG Holdings Ltd. 1,340,507 0.29 212,126 WT Microelectronics Co. Ltd. 1,439,829 0.31 43,000 XinTec, Inc. 206,459 0.04 15,112 Yankey Engineering Co. Ltd. 262,345 0.06 373,305 YFY, Inc. 312,936 0.07 254,271 Yieh Phui Enterprise Co. Ltd. 112,939 0.02 24,903 Yuanta Futures Co. Ltd. 75,558 0.02 144,830 Yulon Motor Co. Ltd. 123,221 0.03 103,300,816 22.24 Philippines Peso - 0.80% 465,200 Aboitiz Equity Ventures, Inc. 228,197 0.05 3,985,400 ACEN Corp. 193,530 0.04 611,400 Alliance Global Group, Inc. 90,376 0.02 421,100 Apex Mining Co., Inc. 103,143 0.02 507,800 Century Pacific Food, Inc. 292,560 0.06 609,400 Converge Information & Communications Technology Solutions, Inc. 122,382 0.03

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Philippines Peso - 0.80% (continued) 501,300 DigiPlus Interactive Corp. 131,865 0.03 660,200 DMCI Holdings, Inc. 108,458 0.02 36,890 GT Capital Holdings, Inc. 315,766 0.07 924,200 JG Summit Holdings, Inc. 419,883 0.09 465,200 LT Group, Inc. 112,261 0.03 221,700 Manila Water Co., Inc. 154,551 0.03 450,000 Maynilad Water Services, Inc. 148,889 0.03 2,529,000 Megaworld Corp. 87,422 0.02 928,500 Monde Nissin Corp. 101,944 0.02 70,590 Philippine National Bank 65,361 0.02 315,800 Puregold Price Club, Inc. 213,132 0.05 460,700 Robinsons Land Corp. 131,954 0.03 142,400 Robinsons Retail Holdings, Inc. 108,294 0.02 200,100 Semirara Mining & Power Corp. 94,368 0.02 398,300 Synergy Grid & Development Phils, Inc. 144,896 0.03 307,390 Universal Robina Corp. 330,413 0.07 3,699,645 0.80 Polish Zloty - 1.66% 27,532 Alior Bank SA 817,161 0.18 20,351 AmRest Holdings SE 62,450 0.01 15,483 Auto Partner SA 74,756 0.02 8,088 Bank Handlowy w Warszawie SA 239,513 0.05 896 Benefit Systems SA 838,787 0.18 60,931 Cyfrowy Polsat SA 191,224 0.04 4,331 Diagnostyka SA 199,121 0.04 78,990 Enea SA 521,225 0.11 13,376 Grupa Azoty SA 67,704 0.02 3,118 Grupa Kety SA 823,817 0.18 21,832 Jastrzebska Spolka Weglowa SA 201,803 0.04 5,046 KRUK SA 607,596 0.13 14,667 Modivo SA 369,817 0.08 213,451 Orange Polska SA 810,450 0.17 58,599 Pepco Group NV 419,524 0.09 313,863 Tauron Polska Energia SA 864,206 0.19 22,845 XTB SA 580,187 0.13 7,689,341 1.66 Qatari Rial - 0.74% 19,422 Al Meera Consumer Goods Co. QSC 70,412 0.02 179,232 Baladna 59,514 0.01 436,234 Barwa Real Estate Co. 277,963 0.06 752,589 Doha Bank QPSC 669,703 0.14 269,407 Estithmar Holding QPSC 275,622 0.06 246,427 Gulf International Services QSC 134,753 0.03

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Qatari Rial - 0.74% (continued) 44,745 Meeza QSTP LLC 40,284 0.01 1,177,986 Qatar Aluminum Manufacturing Co. 452,947 0.10 305,554 Qatar Navigation QSC 855,988 0.18 387,732 United Development Co. QSC 93,286 0.02 794,265 Vodafone Qatar PQSC 514,822 0.11 3,445,294 0.74 Saudi Riyal - 3.60% 176,614 Abdullah Al Othaim Markets Co. 287,564 0.06 6,848 Advanced Building Industries Co. 70,440 0.02 46,750 Advanced Petrochemical Co. 314,690 0.07 13,984 AFG International Co. 57,649 0.01 7,712 Al Babtain Power & Telecommunication Co. 135,432 0.03 21,693 Al Hammadi Holding 154,347 0.03 2,394 Al Majed for Oud Co. 106,348 0.02 7,635 Al Masane Al Kobra Mining Co. 176,806 0.04 4,306 Al Moammar Information Systems Co. 185,546 0.04 11,043 Al Rajhi Co. for Co-operative Insurance 311,050 0.07 6,766 Al-Dawaa Medical Services Co. 92,405 0.02 16,494 Aldrees Petroleum & Transport Services Co. 586,780 0.13 4,294 AlKhorayef Water & Power Technologies Co. 137,313 0.03 3,404 Almoosa Health Co. 125,362 0.03 4,033 Almunajem Foods Co. 55,993 0.01 52,036 AlSaif Stores For Development & Investment Co. 93,184 0.02 10,167 Arabian Cement Co. 64,644 0.01 59,352 Arabian Centres Co. 270,299 0.06 5,179 Arabian Contracting Services Co. 168,097 0.04 8,812 Arabian Drilling Co. 192,203 0.04 45,240 Arriyadh Development Co. 226,525 0.05 12,807 Astra Industrial Group Co. 521,822 0.11 4,433 Ataa Educational Co. 65,622 0.01 7,289 Bawan Co. 87,718 0.02 62,621 BinDawood Holding Co. 78,097 0.02 15,964 Catrion Catering Holding Co. 294,385 0.06 5,700 Dallah Healthcare Co. 202,779 0.04 8,021 Dr. Soliman Abdel Kader Fakeeh Hospital Co. 72,331 0.02 3,908 East Pipes Integrated Co. for Industry 166,626 0.04 12,178 Eastern Province Cement Co. 78,696 0.02 183,224 Electrical Industries Co. 815,392 0.18 64,081 Emaar Economic City 166,324 0.04 4,267 Etihad GO Telecom Co. 98,130 0.02

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Saudi Riyal - 3.60% (continued) 4,349 First Milling Co. 65,479 0.01 15,201 flynas Co. SJSC 202,215 0.04 28,468 Jahez International Co. 85,876 0.02 7,526 Jamjoom Pharmaceuticals Factory Co. 285,389 0.06 25,859 Knowledge Economic City Co. 79,935 0.02 9,802 Leejam Sports Co. JSC 228,685 0.05 3,698 Lumi Rental Co. 36,107 0.01 69,399 Maharah Human Resources Co. 108,742 0.02 11,651 Miahona 48,031 0.01 12,282 Middle East Healthcare Co. 113,505 0.02 2,697 Middle East Pharmaceutical Co. 70,037 0.01 146,695 Mobile Telecommunications Co. Saudi Arabia 451,117 0.10 10,425 Modern Mills Co. 77,675 0.02 4,699 Nahdi Medical Co. 131,606 0.03 59,208 National Agriculture Development Co. 280,846 0.06 5,770 National Co. for Learning & Education 182,052 0.04 14,953 National Gas & Industrialization Co. 333,918 0.07 125,093 National Industrialization Co. 307,349 0.07 7,911 National Medical Care Co. 290,923 0.06 24,608 Perfect Presentation For Commercial Services Co. 46,297 0.01 16,739 Power & Water Utility Co. for Jubail & Yanbu 141,313 0.03 15,579 Qassim Cement Co. 183,082 0.04 87,326 Rabigh Refining & Petrochemical Co. 245,041 0.05 13,637 Rasan Information Technology Co. 490,592 0.11 90,031 Retal Urban Development Co. 324,847 0.07 11,790 Riyadh Cement Co. 75,247 0.02 65,000 Sahara International Petrochemical Co. 280,259 0.06 15,772 Saudi Automotive Services Co. 229,481 0.05 20,783 Saudi Cement Co. 192,290 0.04 12,216 Saudi Ceramic Co. 95,447 0.02 114,351 Saudi Chemical Co. Holding 246,827 0.05 35,152 Saudi Ground Services Co. 301,067 0.06 113,371 Saudi Industrial Investment Group 399,696 0.09 218,089 Saudi Kayan Petrochemical Co. 324,873 0.07 50,000 Saudi Manpower Solutions Co. 74,615 0.02 4,532 Saudi Paper Manufacturing Co. 68,054 0.01 16,942 Saudi Pharmaceutical Industries & Medical Appliances Corp. 137,519 0.03 42,005 Saudi Real Estate Co. 149,210 0.03 22,319 Saudi Reinsurance Co. 146,311 0.03 9,216 Saudi Research & Media Group 216,487 0.05

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Saudi Riyal - 3.60% (continued) 5,166 Saudi Steel Pipe Co. 60,710 0.01 6,369 Saudia Dairy & Foodstuff Co. 356,417 0.08 42,006 Savola Group 297,756 0.06 57,627 Seera Group Holding 303,292 0.07 18,262 Southern Province Cement Co. 115,336 0.02 12,941 Specialized Medical Co. 63,936 0.01 9,915 Sustained Infrastructure Holding Co. 90,521 0.02 44,205 Taiba Investments Co. 435,618 0.09 6,795 Theeb Rent A Car Co. 53,055 0.01 8,993 United Electronics Co. 193,755 0.04 2,459 United International Holding Co. 82,631 0.02 16,493 United International Transportation Co. 182,308 0.04 28,203 Yamama Cement Co. 193,301 0.04 19,109 Yanbu Cement Co. 75,874 0.02 16,713,151 3.60 South African Rand - 3.19% 22,279 AECI Ltd. 148,752 0.03 34,859 African Rainbow Minerals Ltd. 470,176 0.10 119,826 Aspen Pharmacare Holdings Ltd. 919,827 0.20 105,853 AVI Ltd. 642,199 0.14 142,833 Blu Label Unlimited Group Ltd. 69,591 0.02 39,861 Boxer Retail Ltd. 174,836 0.04 144,349 Channel Vas Investments Ltd. 165,368 0.04 63,941 Coronation Fund Managers Ltd. 164,919 0.04 60,246 DataTec Ltd. 246,510 0.05 158,074 Dis-Chem Pharmacies Ltd. 343,713 0.07 132,986 DRDGOLD Ltd. 383,867 0.08 74,882 Exxaro Resources Ltd. 982,620 0.21 397,894 Fortress Real Estate Investments Ltd. 513,712 0.11 107,981 Foschini Group Ltd. 445,171 0.10 133,895 Grindrod Ltd. 146,665 0.03 10,519 Hosken Consolidated Investments Ltd. 101,420 0.02 79,234 Investec Ltd. 590,454 0.13 20,219 JSE Ltd. 188,695 0.04 447,680 Life Healthcare Group Holdings Ltd. 302,071 0.07 195,697 Lighthouse Properties PLC 85,173 0.02 367,801 Momentum Group Ltd. 772,452 0.17 52,173 Motus Holdings Ltd. 353,530 0.08 82,694 Mr. Price Group Ltd. 740,925 0.16 391,056 Netcare Ltd. 377,406 0.08 68,694 Ninety One Ltd. 204,547 0.04 1,203,775 Old Mutual Ltd. 970,474 0.21 36,736 Omnia Holdings Ltd. 204,953 0.04

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) South African Rand - 3.19% (continued) 142,709 Pick n Pay Stores Ltd. 159,237 0.03 51,696 Reunert Ltd. 196,788 0.04 12,633 Santam Ltd. 289,199 0.06 176,680 Sappi Ltd. 174,125 0.04 63,699 SPAR Group Ltd. 233,510 0.05 85,486 Telkom SA SOC Ltd. 293,651 0.06 35,469 Thungela Resources Ltd. 347,448 0.07 49,567 Tiger Brands Ltd. 865,841 0.19 133,540 Truworths International Ltd. 403,097 0.09 84,250 We Buy Cars Holdings Ltd. 195,890 0.04 11,780 Wilson Bayly Holmes-Ovcon Ltd. 106,682 0.02 284,209 Woolworths Holdings Ltd. 842,125 0.18 14,817,619 3.19 South Korean Won - 14.88% 11,544 ABLBio, Inc. 1,250,383 0.27 8,341 Amorepacific Holdings Corp. 150,575 0.03 4,000 APRILBIO Co. Ltd. 142,330 0.03 8,314 Asiana Airlines, Inc. 37,780 0.01 2,856 BGF retail Co. Ltd. 259,747 0.06 4,664 BHI Co. Ltd. 281,670 0.06 1,008 Binggrae Co. Ltd. 46,397 0.01 78,139 BNK Financial Group, Inc. 912,680 0.20 7,592 Cafe24 Corp. 130,858 0.03 4,260 Caregen Co. Ltd. 252,543 0.05 6,998 Celltrion Pharm, Inc. 250,377 0.05 15,981 Chabiotech Co. Ltd. 181,027 0.04 26,850 Cheil Worldwide, Inc. 332,546 0.07 2,267 Chong Kun Dang Pharmaceutical Corp. 131,877 0.03 20,622 CJ CGV Co. Ltd. 64,694 0.01 1,500 CJ CheilJedang Corp. 212,026 0.05 4,284 CJ Corp. 528,630 0.11 3,599 CJ ENM Co. Ltd. 132,761 0.03 2,797 CJ Logistics Corp. 188,822 0.04 6,479 Classys, Inc. 213,619 0.05 4,890 Clobot Co. Ltd. 154,364 0.03 2,693 Cosmax, Inc. 345,493 0.07 8,762 CosmoAM&T Co. Ltd. 295,184 0.06 14,932 Coway Co. Ltd. 703,875 0.15 6,745 CS Wind Corp. 262,463 0.06 5,950 D&D PharmaTech, Inc. 263,383 0.06 10,662 Daeduck Electronics Co. Ltd. 533,918 0.12 2,275 Daehan Shipbuilding Co. Ltd. 127,292 0.03 2,968 Daejoo Electronic Materials Co. Ltd. 244,354 0.05

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) South Korean Won - 14.88% (continued) 8,265 Daesang Corp. 107,383 0.02 42,062 Daewoo Engineering & Construction Co. Ltd. 427,032 0.09 9,868 Daewoong Co. Ltd. 150,116 0.03 1,498 Daewoong Pharmaceutical Co. Ltd. 156,485 0.03 7,646 Daishin Securities Co. Ltd. 175,968 0.04 973 D’Alba Global Co. Ltd. 90,207 0.02 6,571 Daou Technology, Inc. 185,120 0.04 9,766 DB HiTek Co. Ltd. 500,526 0.11 2,569 Dear U Co. Ltd. 50,989 0.01 10,667 DL E&C Co. Ltd. 465,221 0.10 5,658 DL Holdings Co. Ltd. 223,121 0.05 8,174 DN Automotive Corp. 203,596 0.04 11,588 Dongjin Semichem Co. Ltd. 334,782 0.07 12,841 DongKook Pharmaceutical Co. Ltd. 197,857 0.04 9,756 Dongsuh Cos., Inc. 174,209 0.04 2,290 Dongwon Industries Co. Ltd. 56,665 0.01 14,145 Doosan Bobcat, Inc. 525,479 0.11 13,934 Doosan Fuel Cell Co. Ltd. 303,852 0.07 6,637 Doosan Robotics, Inc. 344,492 0.07 3,424 DoubleUGames Co. Ltd. 111,104 0.02 5,862 Douzone Bizon Co. Ltd. 455,825 0.10 4,578 Duk San Neolux Co. Ltd. 150,044 0.03 7,589 Ecopro Materials Co. Ltd. 331,971 0.07 6,010 E-MART, Inc. 375,515 0.08 3,940 Enchem Co. Ltd. 105,339 0.02 2,789 Eo Technics Co. Ltd. 700,141 0.15 4,501 Eugene Technology Co. Ltd. 325,310 0.07 4,141 F&F Co. Ltd. 165,732 0.04 7,618 Fadu, Inc. 228,543 0.05 10,301 GemVax & Kael Co. Ltd. 228,328 0.05 12,980 GI Innovation, Inc. 107,033 0.02 6,966 Grand Korea Leisure Co. Ltd. 52,302 0.01 1,675 Green Cross Corp. 156,274 0.03 8,855 Green Cross Holdings Corp. 77,065 0.02 26,142 GS Engineering & Construction Corp. 428,404 0.09 13,718 GS Holdings Corp. 571,415 0.12 11,240 GS Retail Co. Ltd. 160,713 0.04 8,807 Han Kuk Carbon Co. Ltd. 223,388 0.05 16,554 Hana Micron, Inc. 300,461 0.07 10,109 Hanall Biopharma Co. Ltd. 364,984 0.08 8,677 Hanil Cement Co. Ltd. 90,982 0.02 6,534 Hankook & Co. Co. Ltd. 102,384 0.02 1,946 Hanmi Pharm Co. Ltd. 654,321 0.14

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) South Korean Won - 14.88% (continued) 5,101 Hanmi Science Co. Ltd. 123,558 0.03 74,763 Hanon Systems 182,557 0.04 2,705 Hansol Chemical Co. Ltd. 445,933 0.10 1,936 Hanssem Co. Ltd. 52,140 0.01 6,167 Hanwha Corp. 431,225 0.09 16,809 Hanwha Engine 477,937 0.10 38,378 Hanwha Investment & Securities Co. Ltd. 161,615 0.04 90,922 Hanwha Life Insurance Co. Ltd. 262,974 0.06 34,085 Hanwha Solutions Corp. 826,728 0.18 10,953 Hanwha Vision Co. Ltd. 507,729 0.11 11,285 Harim Holdings Co. Ltd. 99,835 0.02 9,388 HD Construction Equipment Co. Ltd. 766,780 0.17 8,389 HDC Holdings Co. Ltd. 151,990 0.03 9,854 HDC Hyundai Development Co Engineering & Construction 131,567 0.03 7,208 HD-Hyundai Marine Engine 323,305 0.07 10,159 Hite Jinro Co. Ltd. 110,899 0.02 14,164 HJ Shipbuilding & Construction Co. Ltd. 201,134 0.04 3,353 HK inno N Corp. 107,377 0.02 10,199 HL Mando Co. Ltd. 326,616 0.07 11,336 Hotel Shilla Co. Ltd. 325,651 0.07 14,237 HPSP Co. Ltd. 380,174 0.08 742 HS Hyosung Advanced Materials Corp. 106,578 0.02 1,898 Hugel, Inc. 298,024 0.06 2,470 Hyosung Corp. 207,224 0.05 867 Hyosung TNC Corp. 214,535 0.05 4,689 Hyundai Department Store Co. Ltd. 242,463 0.05 7,469 Hyundai Elevator Co. Ltd. 406,208 0.09 21,128 Hyundai Feed, Inc. 10,284 0.00 12,000 Hyundai GF Holdings 107,727 0.02 20,686 Hyundai Marine & Fire Insurance Co. Ltd. 407,197 0.09 27,473 Hyundai Steel Co. 603,576 0.13 5,954 Hyundai Wia Corp. 299,712 0.06 5,573 Il Dong Pharmaceutical Co. Ltd. 102,062 0.02 7,659 Iljin Electric Co. Ltd. 347,534 0.08 47,341 iM Financial Group Co. Ltd. 516,481 0.11 2,908 ISC Co. Ltd. 442,375 0.10 5,693 ISU Specialty Chemical 331,920 0.07 16,654 IsuPetasys Co. Ltd. 1,065,578 0.23 36,968 JB Financial Group Co. Ltd. 716,841 0.15 5,468 JNTC Co. Ltd. 54,193 0.01 8,622 Jusung Engineering Co. Ltd. 341,694 0.07 9,244 JYP Entertainment Corp. 371,172 0.08 10,923 Kakao Games Corp. 86,291 0.02

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) South Korean Won - 14.88% (continued) 32,839 Kangwon Land, Inc. 362,126 0.08 1,379 KCC Corp. 433,962 0.09 4,936 KEPCO Engineering & Construction Co., Inc. 487,590 0.11 8,700 KEPCO Plant Service & Engineering Co. Ltd. 315,248 0.07 4,326 KIWOOM Securities Co. Ltd. 1,159,418 0.25 13,946 Koh Young Technology, Inc. 222,622 0.05 4,674 Kolmar Korea Co. Ltd. 231,922 0.05 3,158 Kolon Industries, Inc. 150,514 0.03 2,893 KoMiCo Ltd. 202,670 0.04 7,539 Korea Gas Corp. 172,029 0.04 52,050 Korean Reinsurance Co. 415,951 0.09 10,800 Kum Yang Co. Ltd. 34,904 0.01 4,480 Kumho Petrochemical Co. Ltd. 344,852 0.07 33,951 Kumho Tire Co., Inc. 131,889 0.03 1,438 Kyung Dong Navien Co. Ltd. 59,148 0.01 5,000 L&C Bio Co. Ltd. 219,698 0.05 7,411 L&F Co. Ltd. 696,271 0.15 11,132 Lake Materials Co. Ltd. 141,798 0.03 15,367 LEENO Industrial, Inc. 947,112 0.20 2,300 LG H&H Co. Ltd. 370,907 0.08 4,366 LG Innotek Co. Ltd. 836,628 0.18 7,730 LigaChem Biosciences, Inc. 968,994 0.21 6,121 Lotte Chemical Corp. 322,105 0.07 877 Lotte Chilsung Beverage Co. Ltd. 65,275 0.01 6,932 Lotte Corp. 123,555 0.03 7,622 Lotte Energy Materials Corp. 206,020 0.04 4,776 LOTTE Fine Chemical Co. Ltd. 152,324 0.03 4,716 Lotte Rental Co. Ltd. 94,218 0.02 3,519 Lotte Shopping Co. Ltd. 248,592 0.05 12,266 Lotte Tour Development Co. Ltd. 138,945 0.03 1,514 Lotte Wellfood Co. Ltd. 109,820 0.02 5,512 LS Corp. 921,276 0.20 2,951 LS Eco Energy Ltd. 77,453 0.02 3,453 LS Marine Solution Co. Ltd. 65,604 0.01 8,235 Lunit, Inc. 175,545 0.04 8,796 LX International Corp. 259,863 0.06 3,466 LX Semicon Co. Ltd. 109,525 0.02 1,452 Medytox, Inc. 96,032 0.02 6,954 Mezzion Pharma Co. Ltd. 393,181 0.09 11,873 Misto Holdings Corp. 317,823 0.07 586 MNC Solution Co. Ltd. 36,538 0.01 15,220 Naturecell Co. Ltd. 172,009 0.04

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) South Korean Won - 14.88% (continued) 3,913 NCSoft Corp. 572,267 0.12 8,768 Netmarble Corp. 281,648 0.06 5,927 Nexon Games Co. Ltd. 44,811 0.01 3,019 NHN Corp. 74,112 0.02 9,955 NICE Information Service Co. Ltd. 104,252 0.02 3,116 NKGen Biotech Korea Co. Ltd. 4,880 0.00 1,180 NongShim Co. Ltd. 282,741 0.06 4,450 OCI Holdings Co. Ltd. 545,627 0.12 4,829 OliX Pharmaceuticals, Inc. 583,585 0.13 6,817 Orion Corp. 569,697 0.12 10,688 Orion Holdings Corp. 160,496 0.03 3,021 Orum Therapeutics, Inc. 169,625 0.04 9,470 Oscotec, Inc. 312,853 0.07 647 Otoki Corp. 151,860 0.03 78,151 Pan Ocean Co. Ltd. 249,763 0.05 16,629 Paradise Co. Ltd. 174,796 0.04 1,376 Park Systems Corp. 210,670 0.05 7,405 Pearl Abyss Corp. 333,591 0.07 5,631 People & Technology, Inc. 173,895 0.04 6,586 Peptron, Inc. 1,262,032 0.27 2,154 PharmaResearch Co. Ltd. 420,492 0.09 17,349 Posco DX Co. Ltd. 333,580 0.07 2,717 PSK Holdings, Inc. 168,876 0.04 5,318 PSK, Inc. 276,030 0.06 2,280 R Bio Co. Ltd. - 2,653 Rainbow Robotics 902,434 0.19 3,083 Robotis Co. Ltd. 485,100 0.10 3,763 S&S Tech Corp. 186,473 0.04 6,259 S-1 Corp. 350,208 0.08 4,565 Sam Chun Dang Pharm Co. Ltd. 2,470,790 0.53 48,369 Samsung E&A Co. Ltd. 1,127,394 0.24 19,051 Samsung Securities Co. Ltd. 1,149,292 0.25 2,354 Sanil Electric Co. Ltd. 207,328 0.05 24,701 SD Biosensor, Inc. 123,372 0.03 3,550 SeAH Besteel Holdings Corp. 149,264 0.03 1,402 Sebang Global Battery Co. Ltd. 54,463 0.01 8,099 Seegene, Inc. 115,538 0.03 5,864 Sejin Heavy Industries Co. Ltd. 59,419 0.01 7,333 Seojin System Co. Ltd. 203,475 0.04 3,200 Seoul Guarantee Insurance Co. 109,059 0.02 3,481 SFA Engineering Corp. 59,091 0.01 2,928 SHIFT UP Corp. 61,269 0.01 1,434 Shinsegae, Inc. 281,342 0.06

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) South Korean Won - 14.88% (continued) 4,520 Shinsung Delta Tech Co. Ltd. 161,423 0.04 1,584 Shinyoung Securities Co. Ltd. 190,703 0.04 10,372 Silicon2 Co. Ltd. 258,344 0.06 7,104 SIMMTECH Co. Ltd. 220,080 0.05 7,906 SK Bioscience Co. Ltd. 215,245 0.05 3,089 SK Chemicals Co. Ltd. 106,083 0.02 2,584 SK Discovery Co. Ltd. 86,041 0.02 651 SK Gas Ltd. 114,334 0.03 6,713 SK IE Technology Co. Ltd. 93,136 0.02 25,324 SK Networks Co. Ltd. 81,346 0.02 7,369 SK oceanplant Co. Ltd. 129,179 0.03 6,312 SKC Co. Ltd. 376,252 0.08 3,193 SL Corp. 115,491 0.03 4,133 SM Entertainment Co. Ltd. 239,618 0.05 1,717 SNT Dynamics Co. Ltd. 54,145 0.01 6,595 SNT Motiv Co. Ltd. 137,786 0.03 2,136 Soop Co. Ltd. 82,140 0.02 1,002 Soulbrain Co. Ltd. 238,128 0.05 4,464 ST Pharm Co. Ltd. 421,437 0.09 3,712 Studio Dragon Corp. 87,247 0.02 3,494 STX Engine Co. Ltd. 69,919 0.02 5,494 Taesung Co. Ltd. 181,501 0.04 23,428 Taihan Cable & Solution Co. Ltd. 408,401 0.09 9,244 TechWing, Inc. 273,400 0.06 10,967 TKG Huchems Co. Ltd. 128,670 0.03 1,304 Tokai Carbon Korea Co. Ltd. 194,538 0.04 10,215 Tongyang Life Insurance Co. Ltd. 57,689 0.01 3,503 Voronoi, Inc. 702,132 0.15 5,954 Wemade Co. Ltd. 80,273 0.02 17,000 Won Tech Co. Ltd. 75,252 0.02 10,129 WONIK IPS Co. Ltd. 714,879 0.15 13,912 YC Corp. 152,685 0.03 3,264 YG Entertainment, Inc. 112,732 0.02 6,839 Youngone Corp. 350,512 0.08 1,367 Youngone Holdings Co. Ltd. 195,458 0.04 69,105,384 14.88 Thailand Baht - 0.19% 240,501 Bangkok Chain Hospital PCL 70,736 0.02 156,700 BCPG PCL 31,834 0.01 240,400 Com7 PCL 158,906 0.03 84,657 KCE Electronics PCL 58,269 0.01 1,833 Kiatnakin Phatra Bank PCL 4,210 0.00 568,600 Thai Life Insurance PCL 179,304 0.04

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Thailand Baht - 0.19% (continued) 51,960 Thanachart Capital PCL 89,410 0.02 333,419 TTW PCL 92,504 0.02 1,394,649 WHA Corp. PCL 177,608 0.04 862,781 0.19 Turkish Lira - 2.32% 106,520 AG Anadolu Grubu Holding AS 65,665 0.01 191,842 Ahlatci Dogal Gaz Dagitim Enerji VE Yatirim AS 97,387 0.02 453,361 Aksa Akrilik Kimya Sanayii AS 110,384 0.02 68,387 Aksa Enerji Uretim AS 118,539 0.03 72,190 Alarko Holding AS 143,471 0.03 214,772 Anadolu Anonim Turk Sigorta Sirketi 131,625 0.03 590,634 Anadolu Efes Biracilik Ve Malt Sanayii AS 222,816 0.05 23,287 Anadolu Hayat Emeklilik AS 56,804 0.01 24,196 Arcelik AS 59,076 0.01 112,168 Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS 491,744 0.11 15,375 Aygaz AS 80,608 0.02 677,815 Baticim Bati Anadolu Cimento Sanayii AS 90,670 0.02 140,801 BatiSoke Soke Cimento Sanayii TAS 102,562 0.02 102,620 Cimsa Cimento Sanayi VE Ticaret AS 112,356 0.02 24,779 Destek Finans Faktoring AS 1,048,428 0.23 281,280 Dogan Sirketler Grubu Holding AS 126,285 0.03 18,140 Dogus Otomotiv Servis ve Ticaret AS 78,669 0.02 307,187 Efor Yatirim Sanayi Ticaret AS 66,645 0.01 30,419 EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS 71,671 0.01 68,024 Enerjisa Enerji AS 175,107 0.04 664,758 Enerya Enerji AS 133,011 0.03 341,700 GEN Ilac VE Saglik Urunleri Sanayi VE Ticaret AS 82,198 0.02 11,082 Grainturk Tarim AS 56,307 0.01 20,190 Gubre Fabrikalari TAS 214,814 0.05 1,014,153 Hektas Ticaret TAS 65,209 0.01 161,725 Is Yatirim Menkul Degerler AS 156,926 0.03 114,623 Isiklar Enerji ve Yapi Holding AS 237,724 0.05 354,101 Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS 245,992 0.05 216,964 Katilimevim Tasarruf Finansman AS 381,443 0.08 121,535 Kiler Holding AS 353,566 0.08 66,650 LDR Turizm AS 174,567 0.04 22,063 Lydia Holding AS 90,772 0.02 179,344 Margun Enerji Uretim Sanayi VE Ticaret AS 211,479 0.05 147,947 Mavi Giyim Sanayi Ve Ticaret AS 140,031 0.03

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Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) Turkish Lira - 2.32% (continued) 32,983 Migros Ticaret AS 446,768 0.10 26,213 MLP Saglik Hizmetleri AS 250,756 0.05 15,439 Nuh Cimento Sanayi AS 81,187 0.02 8,807 Otokar Otomotiv Ve Savunma Sanayi AS 72,072 0.01 423,444 Oyak Cimento Fabrikalari AS 221,242 0.05 125,319 Pasifik Eurasia Lojistik Dis Ticaret AS 349,360 0.07 57,810 Pegasus Hava Tasimaciligi AS 228,095 0.05 378,128 Petkim Petrokimya Holding AS 180,393 0.04 35,314 Ral Yatirim Holding AS 160,056 0.03 344,120 Reysas Tasimacilik ve Lojistik Ticaret AS 141,733 0.03 3,614,433 Sasa Polyester Sanayi AS 190,148 0.04 39,913 Selcuk Ecza Deposu Ticaret ve Sanayi AS 72,235 0.02 111,363 Sok Marketler Ticaret AS 122,479 0.03 19,056 TAB Gida Sanayi Ve Ticaret AS 103,334 0.02 66,754 TAV Havalimanlari Holding AS 461,860 0.10 50,451 Tera Yatirim Menkul Degerler AS 402,655 0.09 38,178 Tofas Turk Otomobil Fabrikasi AS 234,965 0.05 46,553 Trust Anadolu Metal Madencilik Isletmeleri AS 124,546 0.03 316,743 Turk Altin Isletmeleri AS 298,371 0.06 7,230 Turk Traktor ve Ziraat Makineleri AS 72,251 0.02 547,525 Turkiye Sigorta AS 156,330 0.03 337,981 Turkiye Sinai Kalkinma Bankasi AS 84,419 0.02 200,000 Turkiye Sise ve Cam Fabrikalari AS 197,752 0.04 55,609 Ulker Biskuvi Sanayi AS 147,274 0.03 10,794,832 2.32 United Arab Emirates Dirham - 1.19% 1,307,186 Agility Global PLC 491,089 0.11 86,285 Agthia Group PJSC 83,389 0.02 305,997 Ajman Bank PJSC 112,459 0.02 246,114 Al Waha Capital PJSC 108,541 0.02 267,466 Alec Holdings PJSC 101,939 0.02 320,188 Alef Education Holding PLC 91,525 0.02 260,292 Amanat Holdings PJSC 85,741 0.02 846,210 Americana Restaurants International PLC - Foreign Co. 428,484 0.09 209,493 Apex Investment Co. PSC 192,195 0.04 323,618 Bank of Sharjah 103,077 0.02 1,919,950 Dana Gas PJSC 446,366 0.10 437,677 Deyaar Development PJSC 94,606 0.02 522,574 Dubai Financial Market PJSC 199,168 0.04 778,789 Dubai Investments PJSC 801,411 0.17 186,795 Dubai Taxi Co. PJSC 108,823 0.02 799,569 Emirates Central Cooling Systems Corp. 326,506 0.07

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Common Stock - 93.20% (March 2025: 94.01%) (continued) United Arab Emirates Dirham - 1.19% (continued) 225,736 Gulf Navigation Holding PJSC 103,856 0.02 294,006 Investcorp Capital PLC 118,457 0.03 700,000 Lulu Retail Holdings PLC 187,325 0.04 166,348 National Central Cooling Co. PJSC 120,007 0.03 295,400 NMDC Energy 181,745 0.04 211,427 Parkin Co. PJSC 268,219 0.06 310,921 Phoenix Group PLC 73,725 0.02 460,081 RAK Properties PJSC 117,860 0.03 288,376 Sharjah Islamic Bank 251,219 0.05 360,325 Space42 PLC 130,464 0.03 193,130 Spinneys 1961 Holding PLC 62,041 0.01 40,423 Taaleem Holdings PJSC 34,004 0.01 490,584 Union Properties PJSC 93,621 0.02 5,517,862 1.19 United States Dollar - 0.81% 6,100 Afya Ltd. 90,707 0.02 8,200 Aura Minerals, Inc. 669,120 0.14 2,300 China Yuchai International Ltd. 88,550 0.02 206,400 INESA Intelligent Tech, Inc. 149,434 0.03 70,450 Inter & Co., Inc. 560,782 0.12 11,611 Intercorp Financial Services, Inc. 582,872 0.13 24,100 Lao Feng Xiang Co. Ltd. 79,337 0.02 52,050 Pagseguro Digital Ltd. 521,541 0.11 21,832 Patria Investments Ltd. 275,083 0.06 234,500 Shanghai Chlor-Alkali Chemical Co. Ltd. 162,977 0.03 63,100 Shanghai Jinqiao Export Processing Zone Development Co. Ltd. 47,893 0.01 105,500 Shanghai Mechanical & Electrical Industry Co. Ltd. 137,889 0.03 164,900 Shanghai Zhenhua Heavy Industries Co. Ltd. 42,379 0.01 12,000 Sigma Lithium Corp. 148,080 0.03 12,200 Vinci Compass Investments Ltd. 128,710 0.03 21,700 VTEX 86,800 0.02 3,772,154 0.81 Total Common Stock 432,907,347 93.20 Depository Receipts - 3.39% (March 2025: 3.39%) Thailand Baht - 2.30% 19,100 AEON Thana Sinsap Thailand PCL 52,123 0.01 347,400 Amata Corp. PCL 200,140 0.04 594,807 AP Thailand PCL 151,497 0.03 2,081,800 Asset World Corp. PCL 135,083 0.03 271,700 B Grimm Power PCL 98,036 0.02 159,365 Bangchak Corp. PCL 189,663 0.04

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Depository Receipts - 3.39% (March 2025: 3.39%) (continued) Thailand Baht - 2.30% (continued) 164,400 Bangkok Airways PCL 67,295 0.01 86,000 Bangkok Chain Hospital PCL 25,294 0.01 537,600 Bangkok Commercial Asset Management PCL 115,736 0.02 2,033,300 Bangkok Expressway & Metro PCL 323,676 0.07 172,413 Bangkok Life Assurance PCL 106,647 0.02 2,525,200 Banpu PCL 463,234 0.10 41,400 BCPG PCL 8,411 0.00 284,500 Berli Jucker PCL 131,122 0.03 146,200 Betagro PCL 108,165 0.02 2,202,200 BTS Group Holdings PCL 144,231 0.03 906,200 Cal-Comp Electronics Thailand PCL 132,990 0.03 77,066 Carabao Group PCL 89,381 0.02 364,442 Central Plaza Hotel PCL 359,138 0.08 380,900 Central Retail Corp. PCL 215,974 0.05 295,443 CH Karnchang PCL 138,853 0.03 1,102,687 Chularat Hospital PCL 47,143 0.01 120,667 Com7 PCL 79,762 0.02 87,200 Electricity Generating PCL 297,453 0.06 1,218,200 Energy Absolute PCL 100,470 0.02 255,200 Global Power Synergy PCL 263,093 0.06 1,689,800 Home Product Center PCL 315,108 0.07 453,000 Indorama Ventures PCL 346,824 0.07 2,851,121 IRPC PCL 171,171 0.04 159,300 I-TAIL Corp. PCL 76,317 0.02 50,200 Jasmine Technology Solution PCL 81,434 0.02 189,991 KCE Electronics PCL 130,770 0.03 61,800 Kiatnakin Phatra Bank PCL 141,945 0.03 261,600 Krungthai Card PCL 235,979 0.05 2,906,600 Land & Houses PCL 331,377 0.07 191,889 MBK PCL 100,076 0.02 102,700 Mega Lifesciences PCL 105,876 0.02 336,800 Muangthai Capital PCL 293,602 0.06 334,600 Osotspa PCL 150,154 0.03 718,100 PTT Global Chemical PCL 794,744 0.17 419,846 Ratch Group PCL 381,910 0.08 51,700 Regional Container Lines PCL 49,380 0.01 3,293,444 Sansiri PCL 135,812 0.03 510,400 SCG Packaging PCL 312,616 0.07 17,400 Siam City Cement PCL 73,335 0.02 552,892 Siam Global House PCL 93,881 0.02 61,300 Sri Trang Agro-Industry PCL 33,085 0.01 233,888 Sri Trang Gloves Thailand PCL 79,428 0.02 226,025 Srisawad Corp. PCL 152,145 0.03

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Depository Receipts - 3.39% (March 2025: 3.39%) (continued) Thailand Baht - 2.30% (continued) 499,937 Star Petroleum Refining PCL 107,627 0.02 259,766 Supalai PCL 128,387 0.03 348,700 Thai Oil PCL 515,437 0.11 1,182,419 Thai Union Group PCL 401,549 0.09 129,463 Thai Vegetable Oil PCL 98,138 0.02 14,400 Thanachart Capital PCL 24,779 0.01 538,749 TIDLOR Holdings PCL 241,767 0.05 123,200 Tipco Asphalt PCL 50,431 0.01 48,600 Tisco Financial Group PCL 166,519 0.04 180,044 TOA Paint Thailand PCL 70,969 0.01 2,891,902 VGI PCL 81,549 0.02 1,339,800 WHA Corp. PCL 170,623 0.04 10,689,354 2.30 United States Dollar - 1.09% 11,549 Atour Lifestyle Holdings Ltd. 425,119 0.09 10,000 Autohome, Inc. 173,700 0.04 12,910 Daqo New Energy Corp. 274,596 0.06 31,211 FinVolution Group 149,501 0.03 29,000 Globaltrans Investment PLC - 42,643 Hello Group, Inc. 245,624 0.05 32,683 HUTCHMED China Ltd. 488,938 0.10 156,986 iQIYI, Inc. 211,931 0.05 9,010 JinkoSolar Holding Co. Ltd. 228,944 0.05 9,366 JOYY, Inc. 546,881 0.12 39,986 Kingsoft Cloud Holdings Ltd. 534,213 0.11 69,151 Lufax Holding Ltd. 129,312 0.03 7,700 Noah Holdings Ltd. 76,230 0.02 22,000 Qfin Holdings, Inc. 284,020 0.06 116,836 RLX Technology, Inc. 257,039 0.06 82,868 Tuya, Inc. 191,425 0.04 34,578 Up Fintech Holding Ltd. 217,841 0.05 45,841 Vnet Group, Inc. 384,606 0.08 24,711 Weibo Corp. 216,221 0.05 5,036,141 1.09 Total Depository Receipts 15,725,495 3.39 Real Estate Investment Trust - 2.30% (March 2025: 1.78%) Hong Kong Dollar - 0.01% 612,240 Yuexiu Real Estate Investment Trust 60,129 0.01 60,129 0.01 Indian Rupee - 0.49% 99,727 Brookfield India Real Estate Trust 340,338 0.07 263,789 Embassy Office Parks REIT 1,168,891 0.25 76,717 Mindspace Business Parks REIT 363,297 0.08

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% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Real Estate Investment Trust - 2.30% (March 2025: 1.78%) (continued) Indian Rupee - 0.49% (continued) 256,420 Nexus Select Trust 407,655 0.09 2,280,181 0.49 Malaysian Ringgit - 0.28% 444,503 Axis Real Estate Investment Trust 210,780 0.05 566,700 IGB Real Estate Investment Trust 386,291 0.08 687,300 Pavilion Real Estate Investment Trust 293,660 0.06 691,200 Sunway Real Estate Investment Trust 394,337 0.09 1,285,068 0.28 Mexican Peso - 0.25% 55,865 Concentradora Fibra Danhos SA de CV 88,188 0.02 269,283 FIBRA Macquarie Mexico 618,523 0.13 551,800 Fibra MTY SAPI de CV 466,116 0.10 1,172,827 0.25 Philippines Peso - 0.08% 307,400 AREIT, Inc. 199,873 0.05 1,367,400 Real Commercial REIT, Inc. 149,232 0.03 349,105 0.08 Saudi Riyal - 0.09% 86,056 Al Rajhi REIT 185,752 0.04 78,587 Jadwa REIT Saudi Fund 235,179 0.05 420,931 0.09 South African Rand - 0.68% 222,489 Equites Property Fund Ltd. 219,012 0.05 1,054,071 Growthpoint Properties Ltd. 995,725 0.21 113,643 Hyprop Investments Ltd. 356,647 0.07 2,142,381 Redefine Properties Ltd. 744,686 0.16 87,238 Resilient REIT Ltd. 403,586 0.09 354,242 Vukile Property Fund Ltd. 457,354 0.10 3,177,010 0.68 South Korean Won - 0.09% 48,528 ESR Kendall Square REIT Co. Ltd. 137,031 0.03 53,070 LOTTE REIT Co. Ltd. 160,251 0.04 26,225 SK REITs Co. Ltd. 106,499 0.02 403,781 0.09 Turkish Lira - 0.30% 717,626 Emlak Konut Gayrimenkul Yatirim Ortakligi AS 309,928 0.07 1,304,680 Peker Gayrimenkul Yatirim Ortakligi AS 419,445 0.09 193,772 Reysas Gayrimenkul Yatirim Ortakligi AS 127,381 0.03 494,264 Tera Yatirim Teknoloji Holding AS 194,461 0.04 62,748 Torunlar Gayrimenkul Yatirim Ortakligi AS 120,474 0.02 427,948 Ziraat Gayrimenkul Yatirim Ortakligi AS 220,131 0.05 1,391,820 0.30

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Real Estate Investment Trust - 2.30% (March 2025: 1.78%) (continued) United Arab Emirates Dirham - 0.03% 449,977 Dubai Residential REIT 134,749 0.03 134,749 0.03 Total Real Estate Investment Trust 10,675,601 2.30 Preferred Stock - 0.63% (March 2025: 0.64%) Brazilian Real - 0.48% 52,362 Alpargatas SA 124,338 0.03 29,787 Banco ABC Brasil SA 144,887 0.03 51,859 Banco do Estado do Rio Grande do Sul SA 171,309 0.04 96,888 Bradespar SA 427,855 0.09 47,100 Braskem SA 84,784 0.02 97,856 Cia de Ferro Ligas da Bahia FERBASA 153,850 0.03 49,900 Cia De Sanena Do Parana 81,320 0.02 251,489 Marcopolo SA 298,592 0.06 234,598 Metalurgica Gerdau SA 383,663 0.08 13,337 Unipar Carbocloro SA 159,346 0.04 140,485 Usinas Siderurgicas de Minas Gerais SA Usiminas 181,325 0.04 2,211,269 0.48 Chilean Peso - 0.12% 130,507 Embotelladora Andina SA 547,042 0.12 547,042 0.12 Philippines Peso - 0.00% 16,762 Cebu Air, Inc. 9,657 0.00 9,657 0.00 South Korean Won - 0.03% 3,915 Daishin Securities Co. Ltd. 59,045 0.01 3,543 Hanwha Corp. 97,848 0.02 156,893 0.03 Total Preferred Stock 2,924,861 0.63 Rights - 0.00% (March 2025: 0.00%) Brazilian Real - 0.00% 18,048 Simpar SA 968 0.00 22,332 Vamos Locacao de Caminhoes Maquinas e Equipamentos SA 128 0.00 1,096 0.00 South Korean Won - 0.00% 2,223 Lunit, Inc. 8,563 0.00 8,563 0.00 Total Rights 9,659 0.00

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Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.52% (March 2025: 99.82%) (continued) Warrants - 0.00% (March 2025: 0.00%) Malaysian Ringgit - 0.00% 14,125 Guan Chong Bhd. 366 0.00 22,963 Supermax Corp. Bhd. 454 0.00 820 0.00 Thailand Baht - 0.00% 143,640 VGI PCL 87 0.00 87 0.00 Total Warrants 907 0.00 Total Transferable Securities 462,243,870 99.52

Financial Derivative Instruments - (0.01%) (March 2025: (0.00%)) Futures Contracts – (0.01%) (March 2025: (0.00%))

Notional Amount

Average Cost Price

Unrealised Loss USD

% of Net Assets 1,768,180 2,526 70 of MSCI Emerging Market Small Cap Futures Long Futures Contracts Expiring 19 June 2026 (63,491) (0.01) Net Unrealised Loss on Futures Contracts (63,491) (0.01) Total Financial Derivative Instruments (63,491) (0.01)

Fair Value USD % of Fund Total value of investments 462,180,379 99.51 Cash at bank* (March 2025: 0.30%) 842,377 0.18 Cash at broker* (March 2025: 0.07%) 191,952 0.04 Bank overdraft (March 2025: (0.00%)) (8,747) (0.00) Cash due to broker (March 2025: (0.03%)) - Other net assets (March 2025: (0.16%)) 1,270,288 0.27 Net assets attributable to holders of redeemable participating shares 464,476,249 100.00

*All cash holdings are held at State Street Bank and Trust Company, apart from cash at broker which is held with Barclays Capital. The broker for the open futures contracts is Barclays Capital.

All of the above securities are traded on a recognised stock exchange or traded on a regulated market unless otherwise stated.

Analysis of Total Assets (unaudited)

% of Total Assets Transferable securities admitted to an official exchange listing 99.46 Other transferable securities of the type referred to in Regulation 68(1)(a), (b) and (c) 0.02 Other assets 0.52 Total Assets 100.00

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State Street SPDR MSCI Emerging Markets UCITS ETF

Statement of Financial Position as at 31 March 2026

Notes 2026 USD 2025 USD

Current assets Financial assets at fair value through profit or loss: 1(e),12 Transferable securities 1,614,263,996 735,731,727 1,614,263,996 735,731,727

Cash and cash equivalents 1(f) 2,523,115 2,434,806 Cash held with brokers and counterparties for open financial derivative instruments 1(g) 571,143 197,708 Debtors: Dividends receivable 3,848,505 1,787,365 Receivable for investments sold - 707,325 Securities lending income receivable 14,086 4,709 Total current assets 1,621,220,845 740,863,640

Current liabilities Financial liabilities at fair value through profit or loss: 1(e) Financial derivative instruments (115,413) (92,889) Creditors - Amounts falling due within one year: Accrued expenses (263,027) (114,035) Payable for investment purchased - (699,769) Capital gains tax accrual (4,971,521) (3,914,202) Total current liabilities (5,349,961) (4,820,895)

Net assets attributable to holders of redeemable participating shares 1,615,870,884 736,042,745

31 March 2026

31 March 2025

31 March 2024

Net asset value per share 5 USD 84.49 USD 64.99 USD 59.96

The accompanying notes form an integral part of these financial statements.

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State Street SPDR MSCI Emerging Markets UCITS ETF

Statement of Comprehensive Income for the financial year ended

31 March 2026

Notes

2026 USD

2025 USD

Dividend income 28,467,400 18,009,416 Income from financial assets at fair value 2,397 2,830 Securities lending income 13 117,520 39,076 Net changes in fair value of financial assets and financial liabilities at fair value through profit or loss 9 214,618,979 33,477,163 Bank interest income 84,303 91,329 Miscellaneous income - 2,000 Total investment income 243,290,599 51,621,814

Operating expenses 3 (2,117,711) (1,157,683) Net profit for the financial year before finance costs and tax 241,172,888 50,464,131

Profit for the financial year before tax 241,172,888 50,464,131

Capital gains tax 2 (5,104,743) (4,056,945) Withholding tax on investment income 2 (3,462,147) (2,051,705) Increase in net assets attributable to holders of redeemable participating shares resulting from operations 232,605,998 44,355,481

Gains and losses arose solely from continuing operations. There were no recognised gains or losses other than those dealt with in the Statement of Comprehensive Income.

The accompanying notes form an integral part of these financial statements.

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State Street SPDR MSCI Emerging Markets UCITS ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable

Participating Shares for the financial year ended 31 March 2026

2026 USD

2025 USD

Net assets attributable to holders of redeemable participating shares at the beginning of the financial year 736,042,745 458,672,260

Increase in net assets attributable to holders of redeemable participating shares resulting from operations 232,605,998 44,355,481

Share transactions Proceeds from redeemable participating shares issued 647,222,141 233,015,004 Increase in net assets from share transactions 647,222,141 233,015,004

Total increase in net assets attributable to holders of redeemable participating shares 879,828,139 277,370,485

Net assets attributable to holders of redeemable participating shares at the end of the financial year 1,615,870,884 736,042,745

The accompanying notes form an integral part of these financial statements.

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State Street SPDR MSCI Emerging Markets UCITS ETF

Statement of Cash Flows for the financial year ended 31 March 2026

Notes 2026 USD 2025 USD

Increase in net assets attributable to holders of redeemable participating shares resulting from operations 232,605,998 44,355,481

Adjustment for: Movement in cash held with/due to broker (373,435) (116,637) Movement in financial assets at fair value through profit or loss (878,524,713) (276,781,088) Unrealised movement on derivative assets and liabilities 22,524 97,512

Operating cash flows before movements in working capital (646,269,626) (232,444,732)

Movement in receivables (2,070,517) (263,669) Movement in payables 1,206,311 593,407

Net working capital movement (864,206) 329,738

Net cash outflow from operating activities (647,133,832) (232,114,994)

Financing activities Proceeds from subscriptions 5 647,222,141 233,015,004

Net cash generated by financing activities 647,222,141 233,015,004

Net increase in cash and cash equivalents 88,309 900,010

Cash and cash equivalents at the start of the financial year 2,434,806 1,534,796

Cash and cash equivalents at the end of the financial year 2,523,115 2,434,806

Supplementary information Taxation paid (3,595,369) (2,194,448) Interest received 86,700 94,159 Dividend received 26,406,260 17,741,526

The accompanying notes form an integral part of these financial statements.

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% of Net Assets Transferable Securities - 99.90% (March 2025: 99.96%) Common Stock - 95.37% (March 2025: 95.60%) Brazilian Real - 3.08% 737,129 Ambev SA 2,152,686 0.13 213,666 Axia Energia 2,396,094 0.15 942,313 B3 SA - Brasil Bolsa Balcao 3,320,323 0.21 211,785 Banco Bradesco SA 677,702 0.04 210,903 Banco BTG Pactual SA 2,273,428 0.14 290,256 Banco do Brasil SA 1,278,428 0.08 36,961 BB Seguridade Participacoes SA 246,385 0.02 24,600 Caixa Seguridade Participacoes SA 86,445 0.01 84,724 Cia de Saneamento Basico do Estado de Sao Paulo SABESP 2,567,367 0.16 208,000 Cia Paranaense de Energia - Copel 614,606 0.04 15,800 CPFL Energia SA 147,533 0.01 121,259 Embraer SA 1,786,857 0.11 14,410 Energisa SA 144,764 0.01 104,900 Eneva SA 492,966 0.03 22,427 Engie Brasil Energia SA 140,994 0.01 196,606 Equatorial SA 1,534,987 0.09 106,320 Klabin SA 397,228 0.02 194,164 Localiza Rent a Car SA 1,746,823 0.11 68,922 MBRF Global Foods Co. SA 285,616 0.02 62,821 Motiva Infraestrutura de Mobilidade SA 190,197 0.01 611,642 Petroleo Brasileiro SA - Petrobras 6,314,427 0.39 179,768 PRIO SA 2,279,309 0.14 175,976 Raia Drogasil SA 792,947 0.05 130,826 Rede D’Or Sao Luiz SA 976,319 0.06 208,296 Rumo SA 648,189 0.04 125,453 Suzano SA 1,246,854 0.08 146,307 Telefonica Brasil SA 1,155,170 0.07 70,600 TIM SA 371,255 0.02 58,910 TOTVS SA 394,166 0.02 89,434 Ultrapar Participacoes SA 491,875 0.03 558,643 Vale SA 8,823,691 0.55 139,739 Vibra Energia SA 846,149 0.05 292,251 WEG SA 2,854,819 0.18 49,676,599 3.08 Chilean Peso - 0.37% 7,356,542 Banco de Chile 1,324,589 0.08 8,382 Banco de Credito e Inversiones SA 538,625 0.03 6,934,383 Banco Santander Chile 569,628 0.04 159,231 Cencosud SA 431,251 0.03 122,483 Empresas CMPC SA 165,285 0.01 52,402 Empresas Copec SA 359,183 0.02 5,051,725 Enel Chile SA 386,788 0.02 75,924 Falabella SA 461,052 0.03

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.90% (March 2025: 99.96%) (continued) Common Stock - 95.37% (March 2025: 95.60%) (continued) Chilean Peso - 0.37% (continued) 49,592,481 Latam Airlines Group SA 1,211,516 0.08 127,404 Plaza SA 537,883 0.03 5,985,800 0.37 Colombian Peso - 0.08% 34,476 Grupo Cibest SA 800,058 0.05 73,225 Interconexion Electrica SA ESP 560,421 0.03 1,360,479 0.08 Czech Koruna - 0.15% 23,448 CEZ AS 1,319,688 0.08 16,910 Komercni Banka AS 855,755 0.06 23,027 Moneta Money Bank AS 199,367 0.01 2,374,810 0.15 Egyptian Pound - 0.05% 288,031 Commercial International Bank - Egypt (CIB) 638,544 0.04 225,570 Eastern Co. SAE 144,029 0.01 38,999 Talaat Moustafa Group 53,240 0.00 835,813 0.05 Euro - 0.44% 11,581 Allwyn AG 174,668 0.01 341,268 Alpha Bank SA 1,246,472 0.08 288,558 Eurobank SA 1,133,080 0.07 16,553 Hellenic Telecommunications Organization SA 311,261 0.02 9,246 Jumbo SA 234,158 0.01 154,620 National Bank of Greece SA 2,357,857 0.14 178,774 Piraeus Bank SA 1,439,000 0.09 13,534 Public Power Corp. SA 280,066 0.02 7,176,562 0.44 Hong Kong Dollar - 20.50% 314,500 3SBio, Inc. 908,176 0.06 156,500 AAC Technologies Holdings, Inc. 660,717 0.04 4,056,000 Agricultural Bank of China Ltd. (Class H) 2,881,549 0.18 113,000 Akeso, Inc. 1,876,559 0.12 2,721,054 Alibaba Group Holding Ltd. 41,300,659 2.56 742,957 Alibaba Health Information Technology Ltd. 441,593 0.03 735,000 Aluminum Corp. of China Ltd. (Class H) 1,054,661 0.07 282,000 Anhui Conch Cement Co. Ltd. (Class H) 762,532 0.05 232,600 ANTA Sports Products Ltd. 2,245,838 0.14 441,000 AviChina Industry & Technology Co. Ltd. 186,745 0.01 354,540 Baidu, Inc. 4,779,837 0.30 10,770,000 Bank of China Ltd. (Class H) 6,827,237 0.42

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% of Net Assets Transferable Securities - 99.90% (March 2025: 99.96%) (continued) Common Stock - 95.37% (March 2025: 95.60%) (continued) Hong Kong Dollar - 20.50% (continued) 1,092,000 Bank of Communications Co. Ltd. (Class H) 980,546 0.06 61,000 Beijing Enterprises Holdings Ltd. 232,634 0.01 138,208 BeOne Medicines Ltd. 3,024,986 0.19 40,792 Bilibili, Inc. 888,140 0.06 32,800 BOC Aviation Ltd. 323,181 0.02 414,000 Bosideng International Holdings Ltd. 211,219 0.01 573,023 BYD Co. Ltd. (Class H) 7,732,690 0.48 87,000 BYD Electronic International Co. Ltd. 306,268 0.02 49,630 C&D International Investment Group Ltd. 79,824 0.01 2,873,000 CGN Power Co. Ltd. 1,289,885 0.08 1,570,600 China CITIC Bank Corp. Ltd. (Class H) 1,582,580 0.10 1,318,000 China CITIC Financial Asset Management Co. Ltd. 132,805 0.01 142,000 China Coal Energy Co. Ltd. 239,076 0.01 609,700 China Common Rich Renewable Energy Investments Ltd. - 15,313,000 China Construction Bank Corp. (Class H) 16,386,836 1.01 216,000 China Feihe Ltd. 95,875 0.01 517,700 China Galaxy Securities Co. Ltd. (Class H) 521,649 0.03 682,261 China Gas Holdings Ltd. 622,199 0.04 34,200 China Gold International Resources Corp. Ltd. 659,555 0.04 447,500 China Hongqiao Group Ltd. 1,984,018 0.12 295,700 China Huishan Dairy Holdings Co. Ltd. - 225,200 China International Capital Corp. Ltd. (Class H) 493,187 0.03 1,203,130 China Life Insurance Co. Ltd. (Class H) 3,775,031 0.23 48,200 China Literature Ltd. 156,277 0.01 283,000 China Longyuan Power Group Corp. Ltd. 257,365 0.02 647,000 China Mengniu Dairy Co. Ltd. 1,419,403 0.09 579,176 China Merchants Bank Co. Ltd. (Class H) 3,640,442 0.23 198,863 China Merchants Port Holdings Co. Ltd. 371,337 0.02 1,399,800 China Minsheng Banking Corp. Ltd. (Class H) 655,247 0.04 388,685 China National Building Material Co. Ltd. 235,981 0.01 173,000 China Nonferrous Mining Corp. Ltd. 253,536 0.02 126,000 China Oilfield Services Ltd. 145,121 0.01 813,807 China Overseas Land & Investment Ltd. 1,198,881 0.07 401,800 China Pacific Insurance Group Co. Ltd. (Class H) 1,633,808 0.10 3,995,500 China Petroleum & Chemical Corp. (Class H) 2,288,181 0.14

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.90% (March 2025: 99.96%) (continued) Common Stock - 95.37% (March 2025: 95.60%) (continued) Hong Kong Dollar - 20.50% (continued) 302,000 China Power International Development Ltd. 121,721 0.01 573,000 China Railway Group Ltd. (Class H) 295,263 0.02 361,144 China Resources Beer Holdings Co. Ltd. 1,181,058 0.07 84,300 China Resources Gas Group Ltd. 204,616 0.01 589,442 China Resources Land Ltd. 2,153,213 0.13 77,000 China Resources Mixc Lifestyle Services Ltd. 461,988 0.03 440,333 China Resources Power Holdings Co. Ltd. 1,024,984 0.06 1,368,000 China Ruyi Holdings Ltd. 266,963 0.02 523,000 China Shenhua Energy Co. Ltd. (Class H) 3,076,549 0.19 129,500 China State Construction International Holdings Ltd. 137,590 0.01 164,150 China Taiping Insurance Holdings Co. Ltd. 428,789 0.03 928,500 China Tower Corp. Ltd. 1,264,812 0.08 119,000 Chongqing Rural Commercial Bank Co. Ltd. (Class H) 103,060 0.01 325,400 Chow Tai Fook Jewellery Group Ltd. 451,564 0.03 891,000 CITIC Ltd. 1,343,285 0.08 114,525 CITIC Securities Co. Ltd. (Class H) 347,364 0.02 642,000 CMOC Group Ltd. (Class H) 1,318,359 0.08 16,000 Contemporary Amperex Technology Co. Ltd. (Class H) 1,252,009 0.08 408,600 COSCO SHIPPING Holdings Co. Ltd. (Class H) 776,529 0.05 689,000 CRRC Corp. Ltd. (Class H) 445,554 0.03 1,422,080 CSPC Pharmaceutical Group Ltd. 1,650,586 0.10 163,800 ENN Energy Holdings Ltd. 1,323,529 0.08 94,000 Far East Horizon Ltd. 84,406 0.01 117,600 Fuyao Glass Industry Group Co. Ltd. (Class H) 879,728 0.05 69,000 Ganfeng Lithium Group Co. Ltd. (Class H) 640,258 0.04 3,622,000 GCL Technology Holdings Ltd. 397,301 0.02 159,300 GDS Holdings Ltd. 785,101 0.05 1,088,000 Geely Automobile Holdings Ltd. 2,903,110 0.18 128,000 Genscript Biotech Corp. 178,771 0.01 22,000 GF Securities Co. Ltd. (Class H) 40,407 0.00 43,800 Giant Biogene Holding Co. Ltd. 153,631 0.01 423,500 Great Wall Motor Co. Ltd. 666,563 0.04 284,000 Guangdong Investment Ltd. 283,268 0.02 212,984 Guotai Haitong Securities Co. Ltd. (Class H) 363,476 0.02 180,000 Haidilao International Holding Ltd. 327,619 0.02

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% of Net Assets Transferable Securities - 99.90% (March 2025: 99.96%) (continued) Common Stock - 95.37% (March 2025: 95.60%) (continued) Hong Kong Dollar - 20.50% (continued) 444,600 Haier Smart Home Co. Ltd. (Class H) 1,174,984 0.07 101,000 Haitian International Holdings Ltd. 259,192 0.02 276,996 Hansoh Pharmaceutical Group Co. Ltd. 1,253,516 0.08 126,000 Hengan International Group Co. Ltd. 441,953 0.03 17,540 Hesai Group 316,115 0.02 739,800 Horizon Robotics 624,662 0.04 119,000 Hua Hong Semiconductor Ltd. (Class H) 1,178,586 0.07 790,000 Huaneng Power International, Inc. (Class H) 594,500 0.04 74,800 Huatai Securities Co. Ltd. (Class H) 141,296 0.01 9,802,000 Industrial & Commercial Bank of China Ltd. (Class H) 8,576,531 0.53 235,000 Innovent Biologics, Inc. 2,544,769 0.16 290,800 J&T Global Express Ltd. 374,989 0.02 201,577 JD Health International, Inc. 1,209,945 0.07 223,200 JD Logistics, Inc. 388,597 0.02 392,195 JD.com, Inc. 5,662,671 0.35 102,000 Jiangsu Expressway Co. Ltd. (Class H) 131,270 0.01 219,000 Jiangxi Copper Co. Ltd. (Class H) 952,514 0.06 94,900 KE Holdings, Inc. 458,752 0.03 590,000 Kingdee International Software Group Co. Ltd. 644,920 0.04 182,600 Kingsoft Corp. Ltd. 523,564 0.03 417,800 Kuaishou Technology 2,404,420 0.15 1,040,000 Kunlun Energy Co. Ltd. 949,772 0.06 4,300 Laopu Gold Co. Ltd. 343,059 0.02 1,462,000 Lenovo Group Ltd. 1,706,245 0.11 209,636 Li Auto, Inc. 1,810,203 0.11 455,000 Li Ning Co. Ltd. 1,241,933 0.08 156,921 Longfor Group Holdings Ltd. 151,113 0.01 464,000 Meitu, Inc. 253,891 0.02 810,300 Meituan 8,573,045 0.53 29,600 Midea Group Co. Ltd. (Class H) 316,380 0.02 53,400 MINISO Group Holding Ltd. 209,508 0.01 571,200 MMG Ltd. 526,015 0.03 9,600 NetEase Cloud Music, Inc. 157,955 0.01 282,745 NetEase, Inc. 6,148,826 0.38 165,000 New China Life Insurance Co. Ltd. (Class H) 973,980 0.06 241,700 New Oriental Education & Technology Group, Inc. 1,344,114 0.08 305,861 NIO, Inc. 1,711,061 0.11 359,800 Nongfu Spring Co. Ltd. 2,153,238 0.13 21,000 Orient Overseas International Ltd. 372,580 0.02

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.90% (March 2025: 99.96%) (continued) Common Stock - 95.37% (March 2025: 95.60%) (continued) Hong Kong Dollar - 20.50% (continued) 1,676,000 People’s Insurance Co. Group of China Ltd. (Class H) 1,154,358 0.07 3,416,300 PetroChina Co. Ltd. (Class H) 4,684,220 0.29 1,161,719 PICC Property & Casualty Co. Ltd. 2,112,971 0.13 1,030,500 Ping An Insurance Group Co. of China Ltd. (Class H) 7,813,987 0.48 30,100 Pony AI, Inc. 256,650 0.02 89,800 Pop Mart International Group Ltd. 1,644,764 0.10 1,751,000 Postal Savings Bank of China Co. Ltd. (Class H) 1,096,580 0.07 32,500 Remegen Co. Ltd. 397,120 0.02 4,197,000 SenseTime Group, Inc. 984,985 0.06 109,500 Shandong Gold Mining Co. Ltd. (Class H) 451,676 0.03 265,200 Shandong Weigao Group Medical Polymer Co. Ltd. 126,846 0.01 157,700 Shenzhou International Group Holdings Ltd. 940,946 0.06 5,600 Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd. 328,563 0.02 1,854,750 Sino Biopharmaceutical Ltd. 1,393,393 0.09 280,800 Sinopharm Group Co. Ltd. 723,471 0.04 90,500 Sinotruk Hong Kong Ltd. 447,640 0.03 355,000 Smoore International Holdings Ltd. 402,082 0.02 149,500 Sunny Optical Technology Group Co. Ltd. 1,019,205 0.06 1,009,750 Tencent Holdings Ltd. 62,335,017 3.86 158,000 Tingyi Cayman Islands Holding Corp. 261,580 0.02 167,200 Tongcheng Travel Holdings Ltd. 383,868 0.02 97,818 Trip.com Group Ltd. 4,751,039 0.29 58,000 Tsingtao Brewery Co. Ltd. (Class H) 358,644 0.02 31,900 UBTech Robotics Corp. Ltd. 347,473 0.02 1,120,000 Want Want China Holdings Ltd. 658,555 0.04 298,800 Weichai Power Co. Ltd. (Class H) 1,041,200 0.06 42,036 WuXi AppTec Co. Ltd. (Class H) 629,988 0.04 599,227 Wuxi Biologics Cayman, Inc. 2,523,721 0.16 56,500 WuXi XDC Cayman, Inc. 419,415 0.03 2,759,400 Xiaomi Corp. 11,178,101 0.69 515,489 Xinyi Solar Holdings Ltd. 191,331 0.01 215,004 XPeng, Inc. 1,794,854 0.11 280,000 XtalPi Holdings Ltd. 321,777 0.02 125,296 Yadea Group Holdings Ltd. 211,751 0.01 63,000 Yangtze Optical Fibre & Cable Joint Stock Ltd. Co. 1,470,498 0.09 670,270 Yankuang Energy Group Co. Ltd. (Class H) 1,245,610 0.08

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% of Net Assets Transferable Securities - 99.90% (March 2025: 99.96%) (continued) Common Stock - 95.37% (March 2025: 95.60%) (continued) Hong Kong Dollar - 20.50% (continued) 54,650 Yum China Holdings, Inc. 2,686,425 0.17 287,000 Zhaojin Mining Industry Co. Ltd. 1,161,881 0.07 58,800 Zhejiang Leapmotor Technology Co. Ltd. 352,641 0.02 69,400 Zhuzhou CRRC Times Electric Co. Ltd. (Class H) 322,560 0.02 30,000 Zijin Gold International Co. Ltd. 666,182 0.04 936,000 Zijin Mining Group Co. Ltd. (Class H) 4,102,059 0.25 62,240 ZTE Corp. (Class H) 173,061 0.01 77,008 ZTO Express Cayman, Inc. 1,851,484 0.11 331,297,726 20.50 Hungarian Forint - 0.31% 19,763 MOL Hungarian Oil & Gas PLC 233,267 0.02 39,609 OTP Bank Nyrt 4,185,874 0.26 15,447 Richter Gedeon Nyrt 545,682 0.03 4,964,823 0.31 Indian Rupee - 12.64% 3,881 ABB India Ltd. 243,113 0.01 19,293 Adani Enterprises Ltd. 357,754 0.02 106,486 Adani Ports & Special Economic Zone Ltd. 1,473,646 0.09 390,800 Adani Power Ltd. 619,808 0.04 4,694 Alkem Laboratories Ltd. 262,244 0.02 58,079 Ambuja Cements Ltd. 245,699 0.02 16,353 APL Apollo Tubes Ltd. 333,961 0.02 18,963 Apollo Hospitals Enterprise Ltd. 1,483,272 0.09 363,089 Ashok Leyland Ltd. 590,023 0.04 67,523 Asian Paints Ltd. 1,541,410 0.10 8,470 Astral Ltd. 142,791 0.01 37,723 AU Small Finance Bank Ltd. 335,156 0.02 15,474 Aurobindo Pharma Ltd. 212,805 0.01 29,924 Avenue Supermarts Ltd. 1,248,338 0.08 379,118 Axis Bank Ltd. 4,641,808 0.29 11,619 Bajaj Auto Ltd. 1,075,736 0.07 451,351 Bajaj Finance Ltd. 3,814,287 0.24 68,189 Bajaj Finserv Ltd. 1,173,139 0.07 2,799 Bajaj Holdings & Investment Ltd. 258,096 0.02 7,781 Balkrishna Industries Ltd. 170,881 0.01 61,262 Bank of Baroda 159,923 0.01 629,568 Bharat Electronics Ltd. 2,659,354 0.16 20,010 Bharat Forge Ltd. 353,286 0.02 95,301 Bharat Heavy Electricals Ltd. 246,671 0.02 308,950 Bharat Petroleum Corp. Ltd. 915,299 0.06 407,116 Bharti Airtel Ltd. 7,650,534 0.47 581 Bosch Ltd. 176,079 0.01

Holding Investment Fair Value USD

% of Net Assets Transferable Securities - 99.90% (March 2025: 99.96%) (continued) Common Stock - 95.37% (March 2025: 95.60%) (continued) Indian Rupee - 12.64% (continued) 22,031 Britannia Industries Ltd. 1,259,628 0.08 33,860 BSE Ltd. 957,981 0.06 142,915 Canara Bank 186,010 0.01 146,595 CG Power & Industrial Solutions Ltd. 1,012,423 0.06 84,092 Cholamandalam Investment & Finance Co. Ltd. 1,201,064 0.07 104,327 Cipla Ltd. 1,346,534 0.08 330,307 Coal India Ltd. 1,568,674 0.10 14,780 Colgate-Palmolive India Ltd. 278,728 0.02 12,974 Coromandel International Ltd. 261,234 0.02 29,469 Cummins India Ltd. 1,398,157 0.09 54,166 Dabur India Ltd. 234,399 0.01 22,141 Divi’s Laboratories Ltd. 1,388,237 0.09 6,529 Dixon Technologies India Ltd. 665,850 0.04 171,046 DLF Ltd. 909,071 0.06 115,100 Dr. Reddy’s Laboratories Ltd. 1,522,835 0.09 24,855 Eicher Motors Ltd. 1,725,853 0.11 439,755 Eternal Ltd. 1,061,639 0.07 60,746 Fortis Healthcare Ltd. 509,159 0.03 134,291 FSN E-Commerce Ventures Ltd. 332,723 0.02 204,227 GAIL India Ltd. 296,515 0.02 18,307 GE Vernova T&D India Ltd. 702,643 0.04 157,314 GMR Airports Ltd. 140,564 0.01 94,611 Godrej Consumer Products Ltd. 982,331 0.06 19,540 Godrej Properties Ltd. 303,106 0.02 59,150 Grasim Industries Ltd. 1,595,044 0.10 41,643 Havells India Ltd. 522,729 0.03 157,070 HCL Technologies Ltd. 2,221,696 0.14 32,050 HDFC Asset Management Co. Ltd. 748,936 0.05 1,777,460 HDFC Bank Ltd. 13,709,204 0.85 184,133 HDFC Life Insurance Co. Ltd. 1,146,551 0.07 23,413 Hero MotoCorp Ltd. 1,249,779 0.08 244,808 Hindalco Industries Ltd. 2,282,797 0.14 36,549 Hindustan Aeronautics Ltd. 1,343,757 0.08 87,572 Hindustan Petroleum Corp. Ltd. 309,668 0.02 137,235 Hindustan Unilever Ltd. 2,973,633 0.18 1,871 Hitachi Energy India Ltd. 478,063 0.03

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        "page_number": 891,
        "text": "% of"
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          "y": 172
        },
        "id": "b3c7ce0c-e4b6-4eda-926f-e9cf32686316",
        "page_number": 891,
        "text": "Net"
      },
      {
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          "width": 38,
          "x": 915,
          "y": 181
        },
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        "page_number": 891,
        "text": "Assets"
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      {
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        "box": {
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          "width": 301,
          "x": 605,
          "y": 198
        },
        "id": "429fffed-11c6-4a74-82a6-2099a0ad103b",
        "page_number": 891,
        "text": "Transferable Securities - 99.89% (March 2025: 99.58%)"
      },
      {
        "block_type": "box",
        "box": {
          "height": 8,
          "width": 68,
          "x": 609,
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        "page_number": 891,
        "text": "(continued)"
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          "y": 220
        },
        "id": "d08c555d-b8c3-49f3-b555-e20f0078d5f8",
        "page_number": 891,
        "text": "Common Stock - 97.50% (March 2025: 96.66%)"
      },
      {
        "block_type": "box",
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          "x": 867,
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        "page_number": 891,
        "text": "(continued)"
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        "text": "United States Dollar - 60.78%"
      },
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        "page_number": 891,
        "text": "(continued)"
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        "text": "24,438 Workiva, Inc. 1,457,238 0.03"
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      {
        "block_type": "box",
        "box": {
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          "y": 259
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        "page_number": 891,
        "text": "4,075 WW Grainger, Inc. 4,445,051 0.09"
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      {
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        "text": "3,200 Wyndham Hotels \u0026 Resorts, Inc. 259,936 0.01"
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        "text": "675 Wynn Resorts Ltd. 68,546 0.00"
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        "text": "324 Zebra Technologies Corp. 67,742 0.00"
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        "text": "3,640 Zillow Group, Inc. 150,623 0.00"
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        "page_number": 891,
        "text": "27,507 Zimmer Biomet Holdings, Inc. 2,487,183 0.05"
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        "page_number": 891,
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        "page_number": 891,
        "text": "32,151 Zoetis, Inc. 3,800,570 0.07"
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        "page_number": 891,
        "text": "1,572 Zoom Communications, Inc. 126,373 0.00"
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          "x": 569,
          "y": 546
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        "page_number": 891,
        "text": "2,054 ZoomInfo Technologies, Inc. 12,283 0.00"
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      {
        "block_type": "box",
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          "x": 570,
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        "text": "1,819 Zscaler, Inc. 255,188 0.01"
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        "text": "46,434 Zurn Elkay Water Solutions Corp. 2,082,101 0.04"
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        "box": {
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        "text": "3,132,208,938 60.78"
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        "text": "Yuan Renminbi - 0.29%"
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        "text": "9,000 37 Interactive Entertainment Network"
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        "text": "Corp. Ltd. 204,688 0.01"
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        "text": "126,000 BAIC BluePark New Energy Technology"
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        "page_number": 891,
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        "page_number": 891,
        "text": "Schedule of Investments as at 31 March 2026 (continued)"
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        "page_number": 891,
        "text": "888"
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        "text": "Holding Investment"
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        "text": "USD"
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        "text": "Transferable Securities - 99.89% (March 2025: 99.58%)"
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        "text": "Common Stock - 97.50% (March 2025: 96.66%)"
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        "text": "11,100 China Galaxy Securities Co. Ltd."
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