# EDGAR Filing Document

**Accession Number:** 0001092351
**File Stem:** 0001092351-23-000003
**Filing Date:** 2023-2
**Character Count:** 31425
**Document Hash:** bab185bd179f6f4c77dc38d6fdde441b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001092351-23-000003.hdr.sgml**: 20230215

**ACCESSION NUMBER**: 0001092351-23-000003

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230215

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230215

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THOMAS WHITE INTERNATIONAL LTD
- **CENTRAL INDEX KEY:** 0001092351
- **IRS NUMBER:** 363831152
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05601
- **FILM NUMBER:** 23633137

**BUSINESS ADDRESS:**
- **STREET 1:** 425 S FINANCIAL PLACE
- **STREET 2:** SUITE 3900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60605
- **BUSINESS PHONE:** 312-663-8300

**MAIL ADDRESS:**
- **STREET 1:** 425 S FINANCIAL PLACE
- **STREET 2:** SUITE 3900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60605

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** THOMAS WHITE INTERNATIONAL LTD<br>**Address:** 425 S FINANCIAL PLACE<br>SUITE 3900<br>CHICAGO, IL 60605

**Form 13F File Number:** 028-05601

**CRD Number (if applicable):** 000106165

**SEC File Number (if applicable):** 801-41896

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Ryan Conner<br>**Title:** Chief Compliance Officer<br>**Phone:** 312-663-8300

**Signature, Place, and Date of Signing:**

Ryan Conner  Chicago, IL  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 282

**Form 13F Information Table Value Total:** $454457858

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABB LTD ADR | ADR | 000375204 |  | 342888 | 11257 | SH |  | SOLE |  | 6304 | 0 | 4953 |
| Abbott Laboratories | COM | 002824100 |  | 897643 | 8176 | SH |  | SOLE |  | 8176 | 0 | 0 |
| AbbVie Inc | COM | 00287Y109 |  | 733709 | 4540 | SH |  | SOLE |  | 4540 | 0 | 0 |
| ACCELLERON INDS LTD ADR | ADR | 00449R109 |  | 83 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| Adobe Inc | COM | 00724F101 |  | 271916 | 808 | SH |  | SOLE |  | 808 | 0 | 0 |
| Advanced Micro Devices Inc | COM | 007903107 |  | 405395 | 6259 | SH |  | SOLE |  | 6259 | 0 | 0 |
| Agilent Technologies Inc | COM | 00846U101 |  | 312469 | 2088 | SH |  | SOLE |  | 2088 | 0 | 0 |
| AIRBUS SE ADR | ADR | 009279100 |  | 2448831 | 82671 | SH |  | SOLE |  | 80527 | 0 | 2144 |
| Akamai Technologies Inc | COM | 00971T101 |  | 478150 | 5672 | SH |  | SOLE |  | 5672 | 0 | 0 |
| ALFA LAVAL AB SWEDEN ADR | ADR | 015393101 |  | 460629 | 15940 | SH |  | SOLE |  | 7042 | 0 | 8898 |
| ALIBABA GROUP HOLDING LTD ADR | ADS | 01609W102 |  | 7673520 | 87110 | SH |  | SOLE |  | 73378 | 0 | 13732 |
| Alliant Energy Corporation | COM | 018802108 |  | 1180887 | 21389 | SH |  | SOLE |  | 21389 | 0 | 0 |
| Alphabet Inc Class C | CAP STK CL C | 02079K107 |  | 1656412 | 18668 | SH |  | SOLE |  | 18668 | 0 | 0 |
| Alphabet Inc Class A | CAP STK CL A | 02079K305 |  | 1660489 | 18820 | SH |  | SOLE |  | 18820 | 0 | 0 |
| Amazon com Inc | COM | 023135106 |  | 1572480 | 18720 | SH |  | SOLE |  | 18720 | 0 | 0 |
| Ameren Corporation | COM | 023608102 |  | 921389 | 10362 | SH |  | SOLE |  | 10362 | 0 | 0 |
| American Express Company | COM | 025816109 |  | 838924 | 5678 | SH |  | SOLE |  | 5678 | 0 | 0 |
| American Tower Corp | COM | 03027X100 |  | 467151 | 2205 | SH |  | SOLE |  | 2205 | 0 | 0 |
| AmerisourceBergen Corp | COM | 03073E105 |  | 248068 | 1497 | SH |  | SOLE |  | 1497 | 0 | 0 |
| Ameriprise Financial Inc | COM | 03076C106 |  | 1318652 | 4235 | SH |  | SOLE |  | 4235 | 0 | 0 |
| Analog Devices Inc | COM | 032654105 |  | 753882 | 4596 | SH |  | SOLE |  | 4596 | 0 | 0 |
| ANGLO AMERICAN PLC ADR | ADR | 03485P300 |  | 36986 | 1900 | SH |  | SOLE |  | 1469 | 0 | 431 |
| ANSYS Inc | COM | 03662Q105 |  | 144229 | 597 | SH |  | SOLE |  | 597 | 0 | 0 |
| Elevance Health Inc | COM | 036752103 |  | 4104 | 8 | SH |  | SOLE |  | 8 | 0 | 0 |
| Apple Inc | COM | 037833100 |  | 3661557 | 28181 | SH |  | SOLE |  | 28181 | 0 | 0 |
| Applied Materials Inc | COM | 038222105 |  | 1003404 | 10304 | SH |  | SOLE |  | 10304 | 0 | 0 |
| ARCELORMITTAL NY REG SH | NY REG SH | 03938L203 |  | 2450232 | 93449 | SH |  | SOLE |  | 83324 | 0 | 10125 |
| Arista Networks Inc | COM | 040413106 |  | 275222 | 2268 | SH |  | SOLE |  | 2268 | 0 | 0 |
| ASHTEAD GROUP PLC ADR | ADR | 045055100 |  | 6586 | 29 | SH |  | SOLE |  | 22 | 0 | 7 |
| Assurant Inc | COM | 04621X108 |  | 147571 | 1180 | SH |  | SOLE |  | 1180 | 0 | 0 |
| ASTRAZENECA PLC ADR | ADR | 046353108 |  | 3773748 | 55660 | SH |  | SOLE |  | 54291 | 0 | 1369 |
| AutoZone Inc | COM | 053332102 |  | 1376128 | 558 | SH |  | SOLE |  | 558 | 0 | 0 |
| AvalonBay Communities Inc | COM | 053484101 |  | 840389 | 5203 | SH |  | SOLE |  | 5203 | 0 | 0 |
| BAE SYSTEM PLC ADR | ADR | 05523R107 |  | 2140893 | 51979 | SH |  | SOLE |  | 51060 | 0 | 919 |
| BYD CO LTD ADR | ADR | 05606L100 |  | 4732189 | 95884 | SH |  | SOLE |  | 81966 | 0 | 13918 |
| BAIDU INC ADR REP A | ADR REP A | 056752108 |  | 2699254 | 23599 | SH |  | SOLE |  | 20184 | 0 | 3415 |
| Ball Corporation | COM | 058498106 |  | 470948 | 9209 | SH |  | SOLE |  | 9209 | 0 | 0 |
| BANCO BRADESCO SA ADR | ADR PFD | 059460303 |  | 3047850 | 1058281 | SH |  | SOLE |  | 907346 | 0 | 150935 |
| BANCO SANTANDER CHILE ADR | ADR REP COM | 05965X109 |  | 8950 | 565 | SH |  | SOLE |  | 565 | 0 | 0 |
| Bank of America Corporation | COM | 060505104 |  | 1297675 | 39181 | SH |  | SOLE |  | 39181 | 0 | 0 |
| BARCLAYS PLC ADR | ADR | 06738E204 |  | 1445746 | 185352 | SH |  | SOLE |  | 165263 | 0 | 20089 |
| Baxter International Inc | COM | 071813109 |  | 356739 | 6999 | SH |  | SOLE |  | 6999 | 0 | 0 |
| BAYERISCHE MOTOREN WERKE AG | ADR | 072743305 |  | 35031 | 1181 | SH |  | SOLE |  | 1181 | 0 | 0 |
| Becton Dickinson and Company | COM | 075887109 |  | 602691 | 2370 | SH |  | SOLE |  | 2370 | 0 | 0 |
| BIDVEST GROUP LTD ADR | ADR | 088836309 |  | 3025295 | 120051 | SH |  | SOLE |  | 98346 | 0 | 21705 |
| Booking Holdings Inc | COM | 09857L108 |  | 598538 | 297 | SH |  | SOLE |  | 297 | 0 | 0 |
| Boston Scientific Corporation | COM | 101137107 |  | 598965 | 12945 | SH |  | SOLE |  | 12945 | 0 | 0 |
| Bristol Myers Squibb Company | COM | 110122108 |  | 1294524 | 17992 | SH |  | SOLE |  | 17992 | 0 | 0 |
| Broadcom Inc | COM | 11135F101 |  | 760417 | 1360 | SH |  | SOLE |  | 1360 | 0 | 0 |
| BROOKFIELD CORP CL A LMT VTG S | CL A LTD VT SH | 11271J107 |  | 1281711 | 40741 | SH |  | SOLE |  | 36404 | 0 | 4337 |
| BROOKFIELD ASSET MGMT LTD CLA | CL A LMT VTG SH | 113004105 |  | 258316 | 9010 | SH |  | SOLE |  | 7931 | 0 | 1079 |
| Brunswick Corp | COM | 117043109 |  | 148341 | 2058 | SH |  | SOLE |  | 2058 | 0 | 0 |
| Cigna Corporation | COM | 125523100 |  | 1013569 | 3059 | SH |  | SOLE |  | 3059 | 0 | 0 |
| CMS Energy Corporation | COM | 125896100 |  | 581116 | 9176 | SH |  | SOLE |  | 9176 | 0 | 0 |
| CRH PLC ADR | ADR | 12626K203 |  | 7122 | 179 | SH |  | SOLE |  | 139 | 0 | 40 |
| CSL LTD ADR | ADR | 12637N204 |  | 2943460 | 30167 | SH |  | SOLE |  | 26891 | 0 | 3276 |
| CSX Corporation | COM | 126408103 |  | 546456 | 17639 | SH |  | SOLE |  | 17639 | 0 | 0 |
| Cadence Design Systems Inc | COM | 127387108 |  | 267787 | 1667 | SH |  | SOLE |  | 1667 | 0 | 0 |
| CANADIAN IMPERIAL BK OF COMMER | COM | 136069101 |  | 1244687 | 30771 | SH |  | SOLE |  | 27400 | 0 | 3371 |
| CANADIAN PACIFIC RAILWAY | COM | 13645T100 |  | 267405 | 3585 | SH |  | SOLE |  | 1666 | 0 | 1919 |
| Carlisle Companies Incorporate | COM | 142339100 |  | 922805 | 3916 | SH |  | SOLE |  | 3916 | 0 | 0 |
| Caterpillar Inc | COM | 149123101 |  | 1567202 | 6542 | SH |  | SOLE |  | 6542 | 0 | 0 |
| CEMEX SA ADR | ADR NEW | 151290889 |  | 2321582 | 573230 | SH |  | SOLE |  | 476851 | 0 | 96379 |
| Centene Corp | COM | 15135B101 |  | 122933 | 1499 | SH |  | SOLE |  | 1499 | 0 | 0 |
| Charles River Laboratories Int | COM | 159864107 |  | 195020 | 895 | SH |  | SOLE |  | 895 | 0 | 0 |
| CHINA LONGYUAN POWER GROUP ADR | ADR | 16890R109 |  | 2116889 | 173189 | SH |  | SOLE |  | 144116 | 0 | 29073 |
| CHINA CONSTR BANK CORP ADR | ADR | 168919108 |  | 1645229 | 131297 | SH |  | SOLE |  | 108090 | 0 | 23207 |
| CHINA MERCHANTS BANK CO LTD ADR | ADR | 16950T102 |  | 1129817 | 40404 | SH |  | SOLE |  | 33214 | 0 | 7190 |
| Church and Dwight Co Inc | COM | 171340102 |  | 905250 | 11230 | SH |  | SOLE |  | 11230 | 0 | 0 |
| Cisco Systems Inc | COM | 17275R102 |  | 500220 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| Citigroup Inc | COM | 172967424 |  | 474825 | 10498 | SH |  | SOLE |  | 10498 | 0 | 0 |
| Citizens Financial Group | COM | 174610105 |  | 653345 | 16595 | SH |  | SOLE |  | 16595 | 0 | 0 |
| COMPAGNIE DE SAINT GOBAIN SA A | ADR | 204280309 |  | 2287423 | 234752 | SH |  | SOLE |  | 209155 | 0 | 25597 |
| Cooper Companies Inc | COM | 216648402 |  | 98209 | 297 | SH |  | SOLE |  | 297 | 0 | 0 |
| Corteva Inc | COM | 22052L104 |  | 945124 | 16079 | SH |  | SOLE |  | 16079 | 0 | 0 |
| CREDIT AGRICOLE SA ADR | ADR | 225313105 |  | 2711166 | 516798 | SH |  | SOLE |  | 467615 | 0 | 49183 |
| Cummins Inc | COM | 231021106 |  | 179295 | 740 | SH |  | SOLE |  | 740 | 0 | 0 |
| DBS GROUP HLDGS LTD ADR | ADR | 23304Y100 |  | 2025893 | 20026 | SH |  | SOLE |  | 17930 | 0 | 2096 |
| D R Horton Inc | COM | 23331A109 |  | 519686 | 5830 | SH |  | SOLE |  | 5830 | 0 | 0 |
| DTE Energy Company | COM | 233331107 |  | 137863 | 1173 | SH |  | SOLE |  | 1173 | 0 | 0 |
| MERCEDES BENZ GROUP AG ADR | ADR | 233825207 |  | 2314013 | 141252 | SH |  | SOLE |  | 128884 | 0 | 12368 |
| Danaher Corporation | COM | 235851102 |  | 644440 | 2428 | SH |  | SOLE |  | 2428 | 0 | 0 |
| Darden Restaurants Inc | COM | 237194105 |  | 127540 | 922 | SH |  | SOLE |  | 922 | 0 | 0 |
| DEUTSCHE TELEKOM AG ADR | ADR | 251566105 |  | 5375674 | 270250 | SH |  | SOLE |  | 241907 | 0 | 28343 |
| DIAGEO PLC ADR | ADR NEW | 25243Q205 |  | 3041525 | 17069 | SH |  | SOLE |  | 15268 | 0 | 1801 |
| Diamondback Energy Inc | COM | 25278X109 |  | 261113 | 1909 | SH |  | SOLE |  | 1909 | 0 | 0 |
| Digital Realty Trust Inc | COM | 253868103 |  | 88839 | 886 | SH |  | SOLE |  | 886 | 0 | 0 |
| DOCTOR REDDYS LABS LTD ADR | ADR | 256135203 |  | 3616290 | 69880 | SH |  | SOLE |  | 57361 | 0 | 12519 |
| ENI SPA ADR | ADR | 26874R108 |  | 4151172 | 144842 | SH |  | SOLE |  | 118879 | 0 | 25963 |
| ENN ENERGY HLDGS LTD ADR | ADR | 26876F102 |  | 2205779 | 39270 | SH |  | SOLE |  | 32574 | 0 | 6696 |
| EastGroup Properties Inc | COM | 277276101 |  | 132366 | 894 | SH |  | SOLE |  | 894 | 0 | 0 |
| EMBRAER SA ADR | ADS | 29082A107 |  | 3396224 | 310725 | SH |  | SOLE |  | 257473 | 0 | 53252 |
| Embecta Corp | COM | 29082K105 |  | 11861 | 469 | SH |  | SOLE |  | 469 | 0 | 0 |
| Equinix Inc | COM | 29444U700 |  | 563981 | 861 | SH |  | SOLE |  | 861 | 0 | 0 |
| Extra Space Storage Inc | COM | 30225T102 |  | 218268 | 1483 | SH |  | SOLE |  | 1483 | 0 | 0 |
| Meta Platforms Inc Cl A | CL A | 30303M102 |  | 851526 | 7076 | SH |  | SOLE |  | 7076 | 0 | 0 |
| F5 Inc | COM | 315616102 |  | 254300 | 1772 | SH |  | SOLE |  | 1772 | 0 | 0 |
| Fidelity National Information | COM | 31620M106 |  | 585138 | 8624 | SH |  | SOLE |  | 8624 | 0 | 0 |
| FleetCor Technologies Inc | COM | 339041105 |  | 314276 | 1711 | SH |  | SOLE |  | 1711 | 0 | 0 |
| Ford Motor Company | COM | 345370860 |  | 128523 | 11051 | SH |  | SOLE |  | 11051 | 0 | 0 |
| Fortinet Inc | COM | 34959E109 |  | 214480 | 4387 | SH |  | SOLE |  | 4387 | 0 | 0 |
| FREEPORT MCMORAN INC | CL B | 35671D857 |  | 2818460 | 74170 | SH |  | SOLE |  | 53240 | 0 | 20930 |
| FRESENIUS SE and CO KGAA ADR | ADR | 35804M105 |  | 77651 | 11087 | SH |  | SOLE |  | 11087 | 0 | 0 |
| GXO Logistics Inc | COM | 36262G101 |  | 283077 | 6631 | SH |  | SOLE |  | 6631 | 0 | 0 |
| GEELY AUTOMOBILE HLDGS LTD ADR | ADR | 36847Q103 |  | 1132060 | 38753 | SH |  | SOLE |  | 32147 | 0 | 6606 |
| General Dynamics Corporation | COM | 369550108 |  | 1147509 | 4625 | SH |  | SOLE |  | 4625 | 0 | 0 |
| General Motors Company | COM | 37045V100 |  | 372832 | 11083 | SH |  | SOLE |  | 11083 | 0 | 0 |
| GERDAU SA ADR | ADR REP PFD | 373737105 |  | 2505670 | 452287 | SH |  | SOLE |  | 372152 | 0 | 80135 |
| Gilead Sciences Inc | COM | 375558103 |  | 402036 | 4683 | SH |  | SOLE |  | 4683 | 0 | 0 |
| GLENCORE PLC ADR | ADR | 37827X100 |  | 8852441 | 666020 | SH |  | SOLE |  | 597961 | 0 | 68059 |
| Global Payments Inc | COM | 37940X102 |  | 284552 | 2865 | SH |  | SOLE |  | 2865 | 0 | 0 |
| Grainger W W Inc | COM | 384802104 |  | 248087 | 446 | SH |  | SOLE |  | 446 | 0 | 0 |
| GRIFOLS SA ADR REP B NVT | ADR REP B NVT | 398438408 |  | 522963 | 61525 | SH |  | SOLE |  | 15055 | 0 | 46470 |
| GRUPO FINANCIERO BANORTE SA ADR | ADR | 40052P107 |  | 2487369 | 69127 | SH |  | SOLE |  | 56985 | 0 | 12142 |
| HDFC BANK LTD ADR | ADR | 40415F101 |  | 10593084 | 154847 | SH |  | SOLE |  | 131560 | 0 | 23287 |
| HSBC HLDGS PLC ADR | ADR | 404280406 |  | 1854612 | 59519 | SH |  | SOLE |  | 53416 | 0 | 6103 |
| Hartford Finl Services Group | COM | 416515104 |  | 721750 | 9518 | SH |  | SOLE |  | 9518 | 0 | 0 |
| Hershey Company | COM | 427866108 |  | 403395 | 1742 | SH |  | SOLE |  | 1742 | 0 | 0 |
| Hexcel Corp | COM | 428291108 |  | 484394 | 8231 | SH |  | SOLE |  | 8231 | 0 | 0 |
| HITACHI LTD ADR | ADR | 433578507 |  | 3438375 | 33902 | SH |  | SOLE |  | 30238 | 0 | 3664 |
| Home Depot Inc | COM | 437076102 |  | 763118 | 2416 | SH |  | SOLE |  | 2416 | 0 | 0 |
| Honeywell International Inc | COM | 438516106 |  | 1067857 | 4983 | SH |  | SOLE |  | 4983 | 0 | 0 |
| HOYA CORP ADR | ADR | 443251103 |  | 1719260 | 17855 | SH |  | SOLE |  | 16066 | 0 | 1789 |
| Huntington Ingalls Inds Inc | COM | 446413106 |  | 135871 | 589 | SH |  | SOLE |  | 589 | 0 | 0 |
| IBERDROLA SA ADR | ADR | 450737101 |  | 2647722 | 56745 | SH |  | SOLE |  | 50771 | 0 | 5974 |
| ICICI BANK LTD ADR | ADR | 45104G104 |  | 7720100 | 352677 | SH |  | SOLE |  | 297964 | 0 | 54713 |
| INFOSYS LTD ADR | ADR | 456788108 |  | 7014066 | 389454 | SH |  | SOLE |  | 328688 | 0 | 60766 |
| ING GROEP NV ADR | ADR | 456837103 |  | 3345022 | 274858 | SH |  | SOLE |  | 246657 | 0 | 28201 |
| INPEX CORP ADR | ADR | 45790H101 |  | 3416864 | 322949 | SH |  | SOLE |  | 289526 | 0 | 33423 |
| Intercontinental Exchange Inc | COM | 45866F104 |  | 521568 | 5084 | SH |  | SOLE |  | 5084 | 0 | 0 |
| INTESA SANPAOLO SPA ADR | ADR | 46115H107 |  | 2817084 | 211710 | SH |  | SOLE |  | 192688 | 0 | 19022 |
| Intuit Inc | COM | 461202103 |  | 3892 | 10 | SH |  | SOLE |  | 10 | 0 | 0 |
| Invesco Global Clean Energy ETF | ETF | 46138G847 |  | 70135 | 3820 | SH |  | SOLE |  | 3477 | 0 | 343 |
| ISHARES MSCI EMERGING MKTS ETF | ETF | 464287234 |  | 3975331 | 104890 | SH |  | SOLE |  | 83890 | 0 | 21000 |
| iShares Russell 1000 Growth ETF | ETF | 464287614 |  | 1510392 | 7050 | SH |  | SOLE |  | 7050 | 0 | 0 |
| ISHARES MSCI ACWI EX US ETF | ETF | 464288240 |  | 2531302 | 55633 | SH |  | SOLE |  | 55136 | 0 | 497 |
| ISHARES MSCI EUROPE FINL ETF | ETF | 464289180 |  | 2261 | 129 | SH |  | SOLE |  | 129 | 0 | 0 |
| ISHARES CORE MSCI EMERGING | ETF | 46434G103 |  | 4997 | 107 | SH |  | SOLE |  | 0 | 0 | 107 |
| ISHARES MSCI EMexCHINA ETF | ETF | 46434G764 |  | 292985 | 6172 | SH |  | SOLE |  | 6172 | 0 | 0 |
| JBS SA ADR | ADR | 466110103 |  | 7026640 | 842845 | SH |  | SOLE |  | 725377 | 0 | 117468 |
| JPMorgan Chase and Co | COM | 46625H100 |  | 1803109 | 13446 | SH |  | SOLE |  | 13446 | 0 | 0 |
| JD COM INC ADR CL A | ADR CL A | 47215P106 |  | 6130743 | 109224 | SH |  | SOLE |  | 92454 | 0 | 16770 |
| Johnson and Johnson | COM | 478160104 |  | 1224184 | 6930 | SH |  | SOLE |  | 6930 | 0 | 0 |
| KB FINANCIAL GROUP INC ADR | ADR | 48241A105 |  | 8536128 | 220800 | SH |  | SOLE |  | 189118 | 0 | 31682 |
| KLA Corporation | COM | 482480100 |  | 1410092 | 3740 | SH |  | SOLE |  | 3740 | 0 | 0 |
| KT CORP ADR | ADR | 48268K101 |  | 4595225 | 340387 | SH |  | SOLE |  | 279258 | 0 | 61129 |
| Keysight Technologies Inc | COM | 49338L103 |  | 333415 | 1949 | SH |  | SOLE |  | 1949 | 0 | 0 |
| Kinder Morgan Inc | COM | 49456B101 |  | 284688 | 15746 | SH |  | SOLE |  | 15746 | 0 | 0 |
| KOMATSU LTD ADR | ADR | 500458401 |  | 58002 | 2661 | SH |  | SOLE |  | 2661 | 0 | 0 |
| LVMH MOET HENNESSY LOU VUIT ADR | ADR | 502441306 |  | 4355752 | 30014 | SH |  | SOLE |  | 26879 | 0 | 3135 |
| Laboratory Corp Amer Hldgs | COM | 50540R409 |  | 210990 | 896 | SH |  | SOLE |  | 896 | 0 | 0 |
| Lam Research Corporation | COM | 512807108 |  | 191657 | 456 | SH |  | SOLE |  | 456 | 0 | 0 |
| Estee Lauder Companies Inc | CL A | 518439104 |  | 705377 | 2843 | SH |  | SOLE |  | 2843 | 0 | 0 |
| Lennar Corp Class A | CL A | 526057104 |  | 203353 | 2247 | SH |  | SOLE |  | 2247 | 0 | 0 |
| LENOVO GROUP LTD ADR | ADR | 526250105 |  | 1780731 | 108412 | SH |  | SOLE |  | 89112 | 0 | 19300 |
| LI NING CO LTD ADR | ADR | 52989T102 |  | 2871907 | 13234 | SH |  | SOLE |  | 11018 | 0 | 2216 |
| LONZA GROUP AG ADR | ADR | 54338V101 |  | 1459303 | 29798 | SH |  | SOLE |  | 22262 | 0 | 7536 |
| Lowes Companies Inc | COM | 548661107 |  | 625414 | 3139 | SH |  | SOLE |  | 3139 | 0 | 0 |
| MMC NORILSK NICKEL PJSC ADR | ADR | 55315J102 |  | 2238 | 741 | SH |  | SOLE |  | 741 | 0 | 0 |
| MS and AD INSURANCE GROUP HLDGS | ADR | 553491101 |  | 2209821 | 138056 | SH |  | SOLE |  | 123854 | 0 | 14202 |
| Marathon Oil Corporation | COM | 565849106 |  | 1502304 | 55497 | SH |  | SOLE |  | 55497 | 0 | 0 |
| Marathon Petroleum Corporation | COM | 56585A102 |  | 1482227 | 12735 | SH |  | SOLE |  | 12735 | 0 | 0 |
| Marriott International Inc | CL A | 571903202 |  | 725243 | 4871 | SH |  | SOLE |  | 4871 | 0 | 0 |
| Martin Marietta Materials Inc | COM | 573284106 |  | 200078 | 592 | SH |  | SOLE |  | 592 | 0 | 0 |
| MARUBENI CORP ADR | ADR | 573810207 |  | 2827917 | 24629 | SH |  | SOLE |  | 22053 | 0 | 2576 |
| MEITUAN ADS | ADR | 58533E103 |  | 3986238 | 89045 | SH |  | SOLE |  | 75101 | 0 | 13944 |
| MERCK KGAA ADR | ADR | 589339209 |  | 48884 | 1266 | SH |  | SOLE |  | 1266 | 0 | 0 |
| Merck and Co Inc | COM | 58933Y105 |  | 1842769 | 16609 | SH |  | SOLE |  | 16609 | 0 | 0 |
| Microsoft Corporation | COM | 594918104 |  | 3865659 | 16119 | SH |  | SOLE |  | 16119 | 0 | 0 |
| Middleby Corp | COM | 596278101 |  | 119974 | 896 | SH |  | SOLE |  | 896 | 0 | 0 |
| Molina Healthcare Inc | COM | 60855R100 |  | 198462 | 601 | SH |  | SOLE |  | 601 | 0 | 0 |
| Morgan Stanley | COM NEW | 617446448 |  | 494816 | 5820 | SH |  | SOLE |  | 5820 | 0 | 0 |
| Motorola Solutions Inc | COM NEW | 620076307 |  | 219053 | 850 | SH |  | SOLE |  | 850 | 0 | 0 |
| MTN GROUP LTD ADR | ADR | 62474M108 |  | 1746484 | 233435 | SH |  | SOLE |  | 190988 | 0 | 42447 |
| MURATA MANUFACTURING CO LTD ADR | ADR | 626425102 |  | 1535 | 123 | SH |  | SOLE |  | 0 | 0 | 123 |
| NEDBANK GROUP LTD ADR | ADR | 63975K104 |  | 1967492 | 157478 | SH |  | SOLE |  | 129169 | 0 | 28309 |
| NESTLE SA ADR | ADR | 641069406 |  | 3606172 | 31141 | SH |  | SOLE |  | 27839 | 0 | 3302 |
| NIKE Inc Class B | CL B | 654106103 |  | 1046537 | 8944 | SH |  | SOLE |  | 8944 | 0 | 0 |
| Norsk Hydro ASA ADR | ADR | 656531605 |  | 542595 | 72900 | SH |  | SOLE |  | 72900 | 0 | 0 |
| NVIDIA Corp | COM | 67066G104 |  | 1036425 | 7092 | SH |  | SOLE |  | 7092 | 0 | 0 |
| NUTRIEN LTD USR | COM | 67077M108 |  | 1646900 | 22551 | SH |  | SOLE |  | 20183 | 0 | 2368 |
| O Reilly Automotive Inc | COM | 67103H107 |  | 5908 | 7 | SH |  | SOLE |  | 7 | 0 | 0 |
| Old Dominion Freight Lines | COM | 679580100 |  | 1016500 | 3582 | SH |  | SOLE |  | 3582 | 0 | 0 |
| Orange SA ADR | ADR | 684060106 |  | 365560 | 37000 | SH |  | SOLE |  | 37000 | 0 | 0 |
| Otis Worldwide Corp | COM | 68902V107 |  | 116212 | 1484 | SH |  | SOLE |  | 1484 | 0 | 0 |
| PJSC LUKOIL ADR | ADR | 69343P105 |  | 3654 | 525 | SH |  | SOLE |  | 525 | 0 | 0 |
| POSCO ADR | ADR | 693483109 |  | 6285838 | 115400 | SH |  | SOLE |  | 98054 | 0 | 17346 |
| PPG Industries Inc | COM | 693506107 |  | 850757 | 6766 | SH |  | SOLE |  | 6766 | 0 | 0 |
| Parker Hannifin Corporation | COM | 701094104 |  | 849138 | 2918 | SH |  | SOLE |  | 2918 | 0 | 0 |
| Paychex Inc | COM | 704326107 |  | 596290 | 5160 | SH |  | SOLE |  | 5160 | 0 | 0 |
| PayPal Holdings Inc | COM | 70450Y103 |  | 300192 | 4215 | SH |  | SOLE |  | 4215 | 0 | 0 |
| PepsiCo Inc | COM | 713448108 |  | 631407 | 3495 | SH |  | SOLE |  | 3495 | 0 | 0 |
| PT TELEKOM INDONESIA ADR | ADR | 715684106 |  | 3033290 | 127182 | SH |  | SOLE |  | 105264 | 0 | 21918 |
| PETROLEO BRASILEIRO SA | ADR | 71654V408 |  | 927 | 87 | SH |  | SOLE |  | 0 | 0 | 87 |
| Phillips 66 | COM | 718546104 |  | 759784 | 7300 | SH |  | SOLE |  | 7300 | 0 | 0 |
| PINDUODUO INC ADS | ADS | 722304102 |  | 8268436 | 101391 | SH |  | SOLE |  | 85877 | 0 | 15514 |
| Pioneer Natural Resources Co | COM | 723787107 |  | 227248 | 995 | SH |  | SOLE |  | 995 | 0 | 0 |
| Polaris Inc | COM | 731068102 |  | 396324 | 3924 | SH |  | SOLE |  | 3924 | 0 | 0 |
| Prologis Inc | COM | 74340W103 |  | 1184680 | 10509 | SH |  | SOLE |  | 10509 | 0 | 0 |
| Prudential Financial Inc | COM | 744320102 |  | 974310 | 9796 | SH |  | SOLE |  | 9796 | 0 | 0 |
| PRUDENTIAL PLC ADR | ADR | 74435K204 |  | 1961962 | 71396 | SH |  | SOLE |  | 64047 | 0 | 7349 |
| Public Storage | COM | 74460D109 |  | 526757 | 1880 | SH |  | SOLE |  | 1880 | 0 | 0 |
| RXO Inc | COM | 74982T103 |  | 89010 | 5175 | SH |  | SOLE |  | 5175 | 0 | 0 |
| Raytheon Technologies Corp | COM | 75513E101 |  | 641347 | 6355 | SH |  | SOLE |  | 6355 | 0 | 0 |
| Regions Financial Corporation | COM | 7591EP100 |  | 311542 | 14450 | SH |  | SOLE |  | 14450 | 0 | 0 |
| RENESAS ELECTRONICS CORP ADR | ADR | 75972B101 |  | 2257546 | 503377 | SH |  | SOLE |  | 450442 | 0 | 52935 |
| Republic Services Inc | COM | 760759100 |  | 209996 | 1628 | SH |  | SOLE |  | 1628 | 0 | 0 |
| RIO TINTO PLC ADR | ADR | 767204100 |  | 2065 | 29 | SH |  | SOLE |  | 29 | 0 | 0 |
| ROCHE HOLDING AG ADR | ADR | 771195104 |  | 2910683 | 74162 | SH |  | SOLE |  | 72293 | 0 | 1869 |
| Ross Stores Inc | COM | 778296103 |  | 138355 | 1192 | SH |  | SOLE |  | 1192 | 0 | 0 |
| ROYAL BANK OF CANADA USR | COM | 780087102 |  | 9214 | 98 | SH |  | SOLE |  | 78 | 0 | 20 |
| SHELL PLC ADS | ADS | 780259305 |  | 10702272 | 187924 | SH |  | SOLE |  | 158660 | 0 | 29264 |
| S and P Global Inc | COM | 78409V104 |  | 702369 | 2097 | SH |  | SOLE |  | 2097 | 0 | 0 |
| SBA Communications Corp | CL A | 78410G104 |  | 166224 | 593 | SH |  | SOLE |  | 593 | 0 | 0 |
| SK TELECOM LTD ADR NEW | ADR | 78440P306 |  | 7194846 | 349434 | SH |  | SOLE |  | 299074 | 0 | 50360 |
| SMC CORP JAPAN ADR | ADR | 78445W306 |  | 1516997 | 72026 | SH |  | SOLE |  | 64499 | 0 | 7527 |
| SalesForce Inc | COM | 79466L302 |  | 428001 | 3228 | SH |  | SOLE |  | 3228 | 0 | 0 |
| SANOFI ADR | ADR | 80105N105 |  | 1873272 | 38680 | SH |  | SOLE |  | 35268 | 0 | 3412 |
| Service Corp International | COM | 817565104 |  | 163447 | 2364 | SH |  | SOLE |  | 2364 | 0 | 0 |
| SEVEN and I HLDGS CO LTD ADR | ADR | 81783H105 |  | 1926614 | 89826 | SH |  | SOLE |  | 80468 | 0 | 9358 |
| Sherwin Williams Co | COM | 824348106 |  | 443570 | 1869 | SH |  | SOLE |  | 1869 | 0 | 0 |
| SHIN ETSU CHEMICAL CO LTD ADR | ADR | 824551105 |  | 1850207 | 60185 | SH |  | SOLE |  | 53831 | 0 | 6354 |
| SHINHAN FINANCIAL GROUP ADR | ADR RESTRD | 824596100 |  | 3810323 | 136424 | SH |  | SOLE |  | 112003 | 0 | 24421 |
| SIEMENS AG ADR | ADR | 826197501 |  | 3363745 | 48624 | SH |  | SOLE |  | 43218 | 0 | 5406 |
| SILICON MOTION TECHNOLOGY CORP | ADR | 82706C108 |  | 5410288 | 83248 | SH |  | SOLE |  | 68846 | 0 | 14402 |
| SMITH and NEPHEW PLC ADR NEW | ADR | 83175M205 |  | 13821 | 514 | SH |  | SOLE |  | 514 | 0 | 0 |
| SoftBank Corp ADR | ADR | 83405K102 |  | 463485 | 41100 | SH |  | SOLE |  | 41100 | 0 | 0 |
| SONY CORP ADR | ADR | 835699307 |  | 2938992 | 38529 | SH |  | SOLE |  | 34426 | 0 | 4103 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 8273 | 137 | SH |  | SOLE |  | 105 | 0 | 32 |
| STANDARD BK GROUP LTD ADR | ADR | 853118206 |  | 5759 | 584 | SH |  | SOLE |  | 584 | 0 | 0 |
| State Street Corp | COM | 857477103 |  | 716126 | 9232 | SH |  | SOLE |  | 9232 | 0 | 0 |
| Steel Dynamics Inc | COM | 858119100 |  | 2170894 | 22220 | SH |  | SOLE |  | 22220 | 0 | 0 |
| Stryker Corp | COM | 863667101 |  | 970136 | 3968 | SH |  | SOLE |  | 3968 | 0 | 0 |
| SUMITOMO MITSUI FINL GROUP ADR | ADR | 86562M209 |  | 2127104 | 265225 | SH |  | SOLE |  | 236616 | 0 | 28609 |
| SUNCOR ENERGY INC NEW ADR | COM | 867224107 |  | 1691272 | 53302 | SH |  | SOLE |  | 52044 | 0 | 1258 |
| SUNNY OPTICAL TECH GRP CO | ADR | 86745T105 |  | 1784 | 15 | SH |  | SOLE |  | 0 | 0 | 15 |
| SUZANO SA ADR | ADS | 86959K105 |  | 259 | 28 | SH |  | SOLE |  | 0 | 0 | 28 |
| SUZUKI MOTOR CORP ADR | ADR | 86959X107 |  | 2602511 | 20100 | SH |  | SOLE |  | 16602 | 0 | 3498 |
| Synopsys Inc | COM | 871607107 |  | 1317071 | 4125 | SH |  | SOLE |  | 4125 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG ADR | ADR | 874039100 |  | 15999707 | 214790 | SH |  | SOLE |  | 179868 | 0 | 34922 |
| TATA MOTORS LTD ADR | ADR | 876568502 |  | 41344 | 1789 | SH |  | SOLE |  | 1778 | 0 | 11 |
| TECHTRONIC INDS LTD ADR | ADR | 87873R101 |  | 3929495 | 70424 | SH |  | SOLE |  | 59811 | 0 | 10613 |
| TENCENT HLDGS LTD ADR | ADR | 88032Q109 |  | 10223563 | 239245 | SH |  | SOLE |  | 200344 | 0 | 38901 |
| Thermo Fisher Scientific Inc | COM | 883556102 |  | 889364 | 1615 | SH |  | SOLE |  | 1615 | 0 | 0 |
| TotalEnergies SE ADR Cl B | ADS | 89151E109 |  | 645632 | 10400 | SH |  | SOLE |  | 10400 | 0 | 0 |
| UNICREDIT SPA ADR | ADR | 904678406 |  | 1499400 | 211711 | SH |  | SOLE |  | 189156 | 0 | 22555 |
| UnitedHealth Group Inc | COM | 91324P102 |  | 1735279 | 3273 | SH |  | SOLE |  | 3273 | 0 | 0 |
| Vail Resorts Inc | COM | 91879Q109 |  | 108211 | 454 | SH |  | SOLE |  | 454 | 0 | 0 |
| VALE SA SP ADR | ADS | 91912E105 |  | 5956011 | 350973 | SH |  | SOLE |  | 302455 | 0 | 48518 |
| Valero Energy Corporation | COM | 91913Y100 |  | 601697 | 4743 | SH |  | SOLE |  | 4743 | 0 | 0 |
| VANGUARD ESG INTL STOCK ETF | ETF | 921910725 |  | 226126 | 4597 | SH |  | SOLE |  | 4597 | 0 | 0 |
| VEOLIA ENVIRONMENT ADR | ADR | 92334N103 |  | 3669498 | 143262 | SH |  | SOLE |  | 128273 | 0 | 14989 |
| Verisk Analytics Inc | COM | 92345Y106 |  | 235874 | 1337 | SH |  | SOLE |  | 1337 | 0 | 0 |
| Visa Inc Cl A | COM CL A | 92826C839 |  | 1497742 | 7209 | SH |  | SOLE |  | 7209 | 0 | 0 |
| VOLKSWAGEN AG ADR | ADR | 928662600 |  | 7012 | 445 | SH |  | SOLE |  | 292 | 0 | 153 |
| VOLVO AB ADR | ADR | 928854108 |  | 7181 | 397 | SH |  | SOLE |  | 316 | 0 | 81 |
| WNS HOLDINGS LTD ADR | ADR | 92932M101 |  | 2843484 | 35548 | SH |  | SOLE |  | 29288 | 0 | 6260 |
| WEST FRASER TIMBER CO LTD USR | COM | 952845105 |  | 2478319 | 34283 | SH |  | SOLE |  | 30585 | 0 | 3698 |
| WOORI FINANCIAL GROUP INC ADR | ADS | 981064108 |  | 3040661 | 110449 | SH |  | SOLE |  | 90574 | 0 | 19875 |
| WUXI BIOLOGICS CAYMAN INC ADR | ADR | 98260N108 |  | 3967455 | 258696 | SH |  | SOLE |  | 220109 | 0 | 38587 |
| XPO Inc | COM | 983793100 |  | 172276 | 5175 | SH |  | SOLE |  | 5175 | 0 | 0 |
| Xcel Energy Inc | COM | 98389B100 |  | 530592 | 7568 | SH |  | SOLE |  | 7568 | 0 | 0 |
| XINYI GLASS HLDGS LTD ADS | ADR | 98418R100 |  | 2036280 | 54653 | SH |  | SOLE |  | 45494 | 0 | 9159 |
| Zimmer Biomet Holdings Inc | COM | 98956P102 |  | 151852 | 1191 | SH |  | SOLE |  | 1191 | 0 | 0 |
| ZTO EXPRESS CAYMAN INC ADR | ADS A | 98980A105 |  | 2004797 | 74611 | SH |  | SOLE |  | 61190 | 0 | 13421 |
| Arch Capital Group Ltd | ORD | G0450A105 |  | 296573 | 4724 | SH |  | SOLE |  | 4724 | 0 | 0 |
| Eaton Corp plc | SHS | G29183103 |  | 674885 | 4300 | SH |  | SOLE |  | 4300 | 0 | 0 |
| Everest RE Group Ltd | COM | G3223R108 |  | 245140 | 740 | SH |  | SOLE |  | 740 | 0 | 0 |
| LINDE PLC SHS | SHS | G5494J103 |  | 2866797 | 8789 | SH |  | SOLE |  | 7880 | 0 | 909 |
| Medtronic Plc | SHS | G5960L103 |  | 377408 | 4856 | SH |  | SOLE |  | 4856 | 0 | 0 |
| Sensata Technologies Holding P | SHS | G8060N102 |  | 505759 | 12525 | SH |  | SOLE |  | 12525 | 0 | 0 |
| STERIS PLC | SHS USD | G8473T100 |  | 110260 | 597 | SH |  | SOLE |  | 597 | 0 | 0 |
| Trane Technologies plc | SHS | G8994E103 |  | 224904 | 1338 | SH |  | SOLE |  | 1338 | 0 | 0 |
| XP INC CL A USR | CL A | G98239109 |  | 3060284 | 199497 | SH |  | SOLE |  | 166150 | 0 | 33347 |
| UBS GROUP AG SHS | SHS | H42097107 |  | 8476 | 454 | SH |  | SOLE |  | 359 | 0 | 95 |
| ELBIT SYSTEMS LTD ADR | ORD | M3760D101 |  | 1461596 | 8910 | SH |  | SOLE |  | 8694 | 0 | 216 |
| ICL Group Ltd USR | SHS | M53213100 |  | 468571 | 64100 | SH |  | SOLE |  | 64100 | 0 | 0 |
| ASML HOLDING NV NY REGISTRY | NY REG SH | N07059210 |  | 2889910 | 5289 | SH |  | SOLE |  | 4747 | 0 | 542 |
| LyondellBasell Industries NV | SHS A | N53745100 |  | 494028 | 5950 | SH |  | SOLE |  | 5950 | 0 | 0 |
| STELLANTIS NV SHS | SHS | N82405106 |  | 1809009 | 127395 | SH |  | SOLE |  | 114215 | 0 | 13180 |
| BANCO LATINOAMERICANO COME | ADR | P16994132 |  | 3922441 | 242126 | SH |  | SOLE |  | 204286 | 0 | 37840 |
| STAR BULK CARRIERS CORP SHS PA | SHS PAR | Y8162K204 |  | 7725192 | 401726 | SH |  | SOLE |  | 347656 | 0 | 54070 |

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