# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0001752724-23-067502
**Filing Date:** 2023-3
**Character Count:** 92601
**Document Hash:** d0f69b28cdbe31e640d7170edd0bfc6e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-067502.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-067502

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07319
- **FILM NUMBER:** 23763595

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity International Multifactor ETF (Series ID: S000064788)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000209805 | Fidelity International Multifactor ETF | FDEV            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity**<sup>®</sup> **International Multifactor ETF**

**January 31, 2023**

IES-NPRT1-0423

1.9892243.103 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.3%** | &nbsp;&nbsp;**Common Stocks - 99.3%** | &nbsp;&nbsp;**Common Stocks - 99.3%** |
|  | Shares | Value ($)<br>|
| COMMUNICATION SERVICES - 9.8%  |  |  |
| Diversified Telecommunication Services - 4.5% |  |  |
| Koninklijke KPN NV  | 53985 | 184158 |
| Nippon Telegraph & Telephone Corp.  | 6800 | 203511 |
| Swisscom AG  | 337 | 198073 |
| Telstra Group Ltd.  | 71955 | 206869 |
|  |  | 792611 |
| Entertainment - 1.0% |  |  |
| Nexon Co. Ltd.  | 7400 | 177823 |
| Interactive Media & Services - 1.8% |  |  |
| Auto Trader Group PLC (a) | 21307 | 164469 |
| Rightmove PLC  | 21249 | 153505 |
|  |  | 317974 |
| Media - 1.3% |  |  |
| Publicis Groupe SA  | 3378 | 237510 |
| Wireless Telecommunication Services - 1.2% |  |  |
| KDDI Corp.  | 6700 | 209122 |
| TOTAL COMMUNICATION SERVICES |  | 1735040 |
| CONSUMER DISCRETIONARY - 6.8%  |  |  |
| Auto Components - 0.2% |  |  |
| NGK Spark Plug Co. Ltd.  | 1900 | 36979 |
| Automobiles - 0.3% |  |  |
| Honda Motor Co. Ltd.  | 2500 | 61652 |
| Hotels, Restaurants & Leisure - 0.7% |  |  |
| Compass Group PLC  | 2246 | 53393 |
| InterContinental Hotel Group PLC  | 559 | 38525 |
| La Francaise des Jeux SAEM (a) | 352 | 15005 |
| Sodexo SA  | 173 | 17101 |
|  |  | 124024 |
| Household Durables - 1.1% |  |  |
| Sekisui House Ltd.  | 2600 | 49003 |
| Sony Group Corp.  | 1200 | 106855 |
| Sumitomo Forestry Co. Ltd.  | 2500 | 46445 |
|  |  | 202303 |
| Leisure Products - 0.6% |  |  |
| Bandai Namco Holdings, Inc.  | 700 | 46593 |
| SHIMANO, Inc.  | 300 | 53035 |
|  |  | 99628 |
| Multiline Retail - 0.5% |  |  |
| Dollarama, Inc.  | 693 | 41325 |
| Wesfarmers Ltd.  | 1190 | 41633 |
|  |  | 82958 |
| Specialty Retail - 0.7% |  |  |
| Industria de Diseno Textil SA  | 2293 | 71273 |
| JB Hi-Fi Ltd.  | 599 | 20420 |
| USS Co. Ltd.  | 2300 | 37689 |
|  |  | 129382 |
| Textiles, Apparel & Luxury Goods - 2.7% |  |  |
| Compagnie Financiere Richemont SA Series A  | 651 | 99483 |
| Hermes International SCA  | 29 | 53999 |
| LVMH Moet Hennessy Louis Vuitton SE  | 179 | 155522 |
| Moncler SpA  | 918 | 57028 |
| Pandora A/S  | 602 | 49743 |
| Swatch Group AG (Bearer)  | 175 | 62819 |
|  |  | 478594 |
| TOTAL CONSUMER DISCRETIONARY |  | 1215520 |
| CONSUMER STAPLES - 13.8%  |  |  |
| Beverages - 2.1% |  |  |
| Diageo PLC  | 3731 | 161682 |
| Heineken Holding NV  | 1227 | 100810 |
| Suntory Beverage & Food Ltd.  | 3300 | 111146 |
|  |  | 373638 |
| Food & Staples Retailing - 3.4% |  |  |
| Axfood AB  | 2804 | 72016 |
| Empire Co. Ltd. Class A (non-vtg.)  | 4022 | 115414 |
| Jeronimo Martins SGPS SA  | 3964 | 85844 |
| Koninklijke Ahold Delhaize NV  | 4191 | 124647 |
| Loblaw Companies Ltd.  | 1433 | 128013 |
| Tesco PLC  | 27846 | 84297 |
|  |  | 610231 |
| Food Products - 3.6% |  |  |
| Nestle SA (Reg. S)  | 3563 | 432331 |
| Orkla ASA  | 10760 | 80170 |
| Toyo Suisan Kaisha Ltd.  | 3000 | 123880 |
|  |  | 636381 |
| Household Products - 0.6% |  |  |
| Essity AB (B Shares)  | 3968 | 103352 |
| Personal Products - 1.8% |  |  |
| Beiersdorf AG  | 896 | 108598 |
| Unilever PLC  | 4003 | 202471 |
|  |  | 311069 |
| Tobacco - 2.3% |  |  |
| British American Tobacco PLC (United Kingdom)  | 3965 | 151125 |
| Imperial Brands PLC  | 3844 | 96114 |
| Japan Tobacco, Inc.  | 8000 | 163328 |
|  |  | 410567 |
| TOTAL CONSUMER STAPLES |  | 2445238 |
| ENERGY - 2.0%  |  |  |
| Oil, Gas & Consumable Fuels - 2.0% |  |  |
| Canadian Natural Resources Ltd.  | 790 | 48353 |
| Crescent Point Energy Corp.  | 3439 | 25618 |
| Eni SpA  | 1330 | 20419 |
| Equinor ASA  | 514 | 15608 |
| Galp Energia SGPS SA Class B  | 800 | 10926 |
| Gaztransport et Technigaz SA  | 56 | 6173 |
| INPEX Corp.  | 3000 | 32758 |
| Repsol SA  | 991 | 16241 |
| Shell PLC (London)  | 2615 | 76427 |
| TotalEnergies SE  | 884 | 54705 |
| Vermilion Energy, Inc.  | 1043 | 15946 |
| Whitecap Resources, Inc.  | 3459 | 28748 |
|  |  | 351922 |
| FINANCIALS - 16.2%  |  |  |
| Banks - 8.0% |  |  |
| Banco de Sabadell SA  | 80069 | 104133 |
| Bank Hapoalim BM (Reg.)  | 6162 | 55103 |
| Bank Leumi le-Israel BM  | 6133 | 53832 |
| Bank of Montreal  | 704 | 70645 |
| Bank of Nova Scotia  | 1234 | 66613 |
| Barclays PLC  | 42712 | 97720 |
| BOC Hong Kong (Holdings) Ltd.  | 15500 | 54082 |
| CaixaBank SA  | 19845 | 87655 |
| Canadian Imperial Bank of Commerce  | 1051 | 47842 |
| Commonwealth Bank of Australia  | 1818 | 140993 |
| Israel Discount Bank Ltd. (Class A)  | 9476 | 48101 |
| Mizrahi Tefahot Bank Ltd.  | 1443 | 47356 |
| Oversea-Chinese Banking Corp. Ltd.  | 8281 | 81465 |
| Ringkjoebing Landbobank A/S  | 467 | 67700 |
| Royal Bank of Canada  | 1301 | 132757 |
| Sumitomo Mitsui Trust Holdings, Inc.  | 2000 | 72821 |
| The Toronto-Dominion Bank  | 1711 | 118046 |
| United Overseas Bank Ltd.  | 3500 | 79435 |
|  |  | 1426299 |
| Capital Markets - 2.7% |  |  |
| ASX Ltd.  | 680 | 33048 |
| IG Group Holdings PLC  | 6326 | 61992 |
| Investec PLC  | 11532 | 73484 |
| Macquarie Group Ltd.  | 550 | 72605 |
| Man Group PLC  | 21439 | 65641 |
| Singapore Exchange Ltd.  | 6900 | 48403 |
| UBS Group AG  | 5888 | 124585 |
|  |  | 479758 |
| Diversified Financial Services - 0.5% |  |  |
| Investor AB (B Shares)  | 4623 | 89349 |
| Insurance - 5.0% |  |  |
| Admiral Group PLC  | 2706 | 73290 |
| Allianz SE  | 594 | 141409 |
| Assicurazioni Generali SpA  | 4210 | 81844 |
| Baloise Holdings AG  | 344 | 56201 |
| Fairfax Financial Holdings Ltd. (sub. vtg.)  | 50 | 33007 |
| Intact Financial Corp.  | 252 | 36455 |
| Japan Post Holdings Co. Ltd.  | 8500 | 74513 |
| Manulife Financial Corp.  | 2440 | 48147 |
| Medibank Private Ltd.  | 15403 | 31910 |
| Sompo Holdings, Inc.  | 1500 | 64420 |
| Suncorp Group Ltd.  | 5037 | 44473 |
| Tokio Marine Holdings, Inc.  | 4400 | 91827 |
| Zurich Insurance Group Ltd.  | 232 | 114188 |
|  |  | 891684 |
| TOTAL FINANCIALS |  | 2887090 |
| HEALTH CARE - 15.9%  |  |  |
| Biotechnology - 0.9% |  |  |
| CSL Ltd.  | 740 | 155431 |
| Health Care Equipment & Supplies - 1.7% |  |  |
| Alcon, Inc. (Switzerland)  | 1089 | 81383 |
| Coloplast A/S Series B  | 639 | 76738 |
| EssilorLuxottica SA  | 246 | 44858 |
| Sonova Holding AG  | 178 | 44154 |
| Straumann Holding AG  | 439 | 56837 |
|  |  | 303970 |
| Health Care Providers & Services - 1.2% |  |  |
| Galenica AG (a) | 631 | 49106 |
| Medipal Holdings Corp.  | 7800 | 103824 |
| Sonic Healthcare Ltd.  | 2605 | 57969 |
|  |  | 210899 |
| Pharmaceuticals - 12.1% |  |  |
| Astellas Pharma, Inc.  | 9000 | 132358 |
| AstraZeneca PLC (United Kingdom)  | 2052 | 267526 |
| GSK PLC  | 7144 | 125188 |
| Ipsen SA  | 682 | 71402 |
| Merck KGaA  | 456 | 94615 |
| Novartis AG  | 2984 | 267821 |
| Novo Nordisk A/S Series B  | 2226 | 306450 |
| Ono Pharmaceutical Co. Ltd.  | 4800 | 104216 |
| Orion Oyj (B Shares)  | 1389 | 74204 |
| Recordati SpA  | 1485 | 64721 |
| Roche Holding AG (participation certificate)  | 886 | 275082 |
| Sanofi SA  | 1798 | 175100 |
| Shionogi & Co. Ltd.  | 2400 | 114108 |
| UCB SA  | 945 | 77364 |
|  |  | 2150155 |
| TOTAL HEALTH CARE |  | 2820455 |
| INDUSTRIALS - 12.1%  |  |  |
| Aerospace & Defense - 1.3% |  |  |
| BAE Systems PLC  | 6848 | 72233 |
| Dassault Aviation SA  | 436 | 74200 |
| Thales SA  | 559 | 73702 |
|  |  | 220135 |
| Air Freight & Logistics - 0.4% |  |  |
| Deutsche Post AG  | 1685 | 72065 |
| Building Products - 0.3% |  |  |
| Geberit AG (Reg.)  | 105 | 59154 |
| Commercial Services & Supplies - 1.2% |  |  |
| Dai Nippon Printing Co. Ltd.  | 2600 | 61179 |
| Secom Co. Ltd.  | 900 | 53435 |
| Securitas AB (B Shares)  | 4785 | 43573 |
| Toppan, Inc.  | 3400 | 54564 |
|  |  | 212751 |
| Construction & Engineering - 1.2% |  |  |
| Kajima Corp.  | 5100 | 62512 |
| Obayashi Corp.  | 7800 | 60339 |
| Stantec, Inc.  | 659 | 34255 |
| Taisei Corp.  | 1800 | 62009 |
|  |  | 219115 |
| Industrial Conglomerates - 0.5% |  |  |
| Jardine Matheson Holdings Ltd.  | 1677 | 88915 |
| Machinery - 1.7% |  |  |
| Atlas Copco AB (A Shares)  | 6140 | 72333 |
| Epiroc AB (A Shares)  | 2810 | 54457 |
| GEA Group AG  | 1132 | 50836 |
| Knorr-Bremse AG  | 682 | 44560 |
| Kone OYJ (B Shares)  | 1513 | 82225 |
|  |  | 304411 |
| Marine - 0.6% |  |  |
| A.P. Moller - Maersk A/S Series B  | 24 | 51908 |
| Kuehne & Nagel International AG  | 195 | 46184 |
|  |  | 98092 |
| Professional Services - 2.0% |  |  |
| Bureau Veritas SA  | 2403 | 68481 |
| Experian PLC  | 1927 | 70055 |
| RELX PLC (London Stock Exchange)  | 2954 | 87353 |
| Teleperformance  | 223 | 61758 |
| Wolters Kluwer NV  | 686 | 74615 |
|  |  | 362262 |
| Road & Rail - 0.9% |  |  |
| Canadian National Railway Co.  | 671 | 79644 |
| Canadian Pacific Railway Ltd.  | 1056 | 83112 |
|  |  | 162756 |
| Trading Companies & Distributors - 2.0% |  |  |
| Itochu Corp.  | 2900 | 93281 |
| Mitsubishi Corp.  | 2800 | 93358 |
| Mitsui & Co. Ltd.  | 3600 | 105748 |
| Sojitz Corp.  | 3400 | 67166 |
|  |  | 359553 |
| TOTAL INDUSTRIALS |  | 2159209 |
| INFORMATION TECHNOLOGY - 3.7%  |  |  |
| IT Services - 1.0% |  |  |
| CGI, Inc. Class A (sub. vtg.) (b) | 291 | 24870 |
| Edenred SA  | 617 | 33498 |
| Nomura Research Institute Ltd.  | 1300 | 30989 |
| OBIC Co. Ltd.  | 200 | 31912 |
| TietoEVRY Oyj  | 997 | 30253 |
| TIS, Inc.  | 1200 | 34419 |
|  |  | 185941 |
| Semiconductors & Semiconductor Equipment - 1.1% |  |  |
| ASML Holding NV (Netherlands)  | 249 | 162959 |
| Tower Semiconductor Ltd. (b) | 591 | 24800 |
|  |  | 187759 |
| Software - 1.1% |  |  |
| Constellation Software, Inc.  | 20 | 35235 |
| Dassault Systemes SA  | 928 | 34328 |
| NICE Ltd. (b) | 147 | 30247 |
| Open Text Corp.  | 520 | 17392 |
| Sage Group PLC  | 3394 | 32457 |
| SimCorp A/S  | 352 | 24512 |
| Trend Micro, Inc.  | 600 | 29482 |
|  |  | 203653 |
| Technology Hardware, Storage & Peripherals - 0.5% |  |  |
| Canon, Inc.  | 1900 | 42268 |
| FUJIFILM Holdings Corp.  | 800 | 42053 |
|  |  | 84321 |
| TOTAL INFORMATION TECHNOLOGY |  | 661674 |
| MATERIALS - 4.2%  |  |  |
| Chemicals - 1.4% |  |  |
| Ems-Chemie Holding AG  | 45 | 33282 |
| Icl Group Ltd.  | 3711 | 29212 |
| K+S AG  | 1547 | 36895 |
| Nissan Chemical Corp.  | 900 | 42216 |
| Novozymes A/S Series B  | 619 | 32071 |
| Tosoh Corp.  | 3300 | 43012 |
| Yara International ASA  | 843 | 37304 |
|  |  | 253992 |
| Metals & Mining - 2.5% |  |  |
| Anglo American PLC (United Kingdom)  | 1578 | 67343 |
| BHP Group Ltd.  | 2998 | 104317 |
| Fortescue Metals Group Ltd.  | 1997 | 31296 |
| Rio Tinto Ltd.  | 400 | 35695 |
| Rio Tinto PLC  | 1066 | 82928 |
| SSAB AB (A Shares)  | 7283 | 51712 |
| Teck Resources Ltd. Class B (sub. vtg.)  | 1741 | 75102 |
|  |  | 448393 |
| Paper & Forest Products - 0.3% |  |  |
| West Fraser Timber Co. Ltd.  | 518 | 44911 |
| TOTAL MATERIALS |  | 747296 |
| REAL ESTATE - 7.0%  |  |  |
| Equity Real Estate Investment Trusts (REITs) - 3.2% |  |  |
| Advance Residence Investment Corp.  | 79 | 192876 |
| Canadian Apartment Properties (REIT) unit  | 5446 | 200804 |
| Safestore Holdings PLC  | 14589 | 180683 |
|  |  | 574363 |
| Real Estate Management & Development - 3.8% |  |  |
| Daito Trust Construction Co. Ltd.  | 2300 | 226737 |
| PSP Swiss Property AG  | 1990 | 246706 |
| Sino Land Ltd.  | 153892 | 199861 |
|  |  | 673304 |
| TOTAL REAL ESTATE |  | 1247667 |
| UTILITIES - 7.8%  |  |  |
| Electric Utilities - 3.3% |  |  |
| ELIA GROUP SA/NV  | 1337 | 187024 |
| Red Electrica Corporacion SA  | 10561 | 186269 |
| SSE PLC  | 10178 | 215957 |
|  |  | 589250 |
| Gas Utilities - 3.4% |  |  |
| Enagas SA  | 10624 | 189976 |
| Osaka Gas Co. Ltd.  | 13300 | 214260 |
| Snam SpA  | 40476 | 205464 |
|  |  | 609700 |
| Multi-Utilities - 1.1% |  |  |
| Canadian Utilities Ltd. Class A (non-vtg.)  | 6834 | 189397 |
| TOTAL UTILITIES |  | 1388347 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $17,166,872) |  | <br> **17659458** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** |
|  | Shares | Value ($)<br>|
| Fidelity Cash Central Fund 4.38% (c) <br>(Cost $45,082) <br>| 45073 | **45082** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.6%**<br> (Cost $17,211,954)<br>| <br>**17704540** |
| **NET OTHER ASSETS (LIABILITIES) - 0.4%** (d)  | **69882** |
| **NET ASSETS - 100.0%** | **17774422** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Value ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| Purchased |  |  |  |  |  |
| Equity Index Contracts |  |  |  |  |  |
| ICE E-mini MSCI EAFE Index Contracts (United States) | 1 | Mar 2023 | 105950 | 8328 | 8328 |
| The notional amount of futures purchased as a percentage of Net Assets is 0.6% | The notional amount of futures purchased as a percentage of Net Assets is 0.6% | The notional amount of futures purchased as a percentage of Net Assets is 0.6% | The notional amount of futures purchased as a percentage of Net Assets is 0.6% | The notional amount of futures purchased as a percentage of Net Assets is 0.6% | The notional amount of futures purchased as a percentage of Net Assets is 0.6% |

---

**Legend**

(a) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $228,580 or 1.3% of net assets.

(b) Non-income producing

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(d) Includes $4,274 of cash collateral to cover margin requirements for futures contracts.

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund 4.38% | - | 222660 | 177578 | 535 | - | - | 45082 | 0.0% |
| Total | - | 222660 | 177578 | 535 | - | - | 45082 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

**Derivative Instruments**

Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk(s):

Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.

The Fund used futures contracts to manage its exposure to the stock market.

Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Fidelity Covington Trust

- **b. Investment Company Act file number:** 811-07319

- **c. CIK number of Registrant:** 0000945908

- **d. LEI of Registrant:** 549300JFYFTF85QAQR28

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

**Item A.2. Information about the Series.**

- **a. Name of Series:** Fidelity International Multifactor ETF

- **b. EDGAR series identifier (if any):** S000064788

- **c. LEI of Series:** 54930024Z981SMEB6H76

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $17780096.44

**Total Liabilities:** $5681.71

**Net Assets:** $17774414.73

**Cash Not Reported:** $14594.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209805 | 8.85%                | 0.28%                | 5.65%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $39273.97                | $1111878.75                                |
| Month 2  | $-630.39                 | $11886.97                                  |
| Month 3  | $2.02                    | $923870.58                                 |

### Schedule of Portfolio Investments

| Name                                           | Title                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALLIANZ SE                                     | ALLIANZ SE (REGD)                   | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |       594 | NS      | $141408.92    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| STRAUMANN HOLDING AG                           | STRAUMANN HOLDG AG (REGD)           | CUSIP: N/A<br>LEI: 50670046ML5FVIM60Z37       | Long             | EC               | CORP              | CH        |       439 | NS      | $56837.06     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| JB HI-FI LTD                                   | JB HI-FI LTD                        | CUSIP: N/A<br>LEI: 529900TPC8H040Y3ZQ65       | Long             | EC               | CORP              | AU        |       599 | NS      | $20420.49     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JERONIMO MARTINS SGPS SA                       | JERONIMO MARTINS and FILHO SGPS     | CUSIP: N/A<br>LEI: 259400A8SZP10GB5IB19       | Long             | EC               | CORP              | PT        |      3964 | NS      | $85843.74     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| AXFOOD AB                                      | AXFOOD AB                           | CUSIP: N/A<br>LEI: 549300QIXCZWZLHE8L05       | Long             | EC               | CORP              | SE        |      2804 | NS      | $72016.24     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| SWISSCOM AG                                    | SWISSCOM AG (REG)                   | CUSIP: N/A<br>LEI: 5493005SL9HHOXS3B739       | Long             | EC               | CORP              | CH        |       337 | NS      | $198073.47    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE                               | TOTALENERGIES SE                    | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |       884 | NS      | $54704.69     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINOR ASA                                    | EQUINOR ASA                         | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |       514 | NS      | $15607.96     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TOSOH CORP                                     | TOSOH CORP                          | CUSIP: N/A<br>LEI: 529900YSLFVJF2MDBX02       | Long             | EC               | CORP              | JP        |      3300 | NS      | $43012.03     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXON CO LTD                                   | NEXON CO LTD                        | CUSIP: N/A<br>LEI: 5299005SFO0GAJFLKN43       | Long             | EC               | CORP              | JP        |      7400 | NS      | $177823.06    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESTEC PLC                                   | INVESTEC PLC                        | CUSIP: N/A<br>LEI: 2138007Z3U5GWDN3MY22       | Long             | EC               | CORP              | GB        |     11532 | NS      | $73483.90     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| GEA GROUP AG                                   | GEA GROUP AG                        | CUSIP: N/A<br>LEI: 549300PHUU0ZZWO8EO07       | Long             | EC               | CORP              | DE        |      1132 | NS      | $50836.05     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MIZRAHI TEFAHOT BANK LTD                       | MIZRAHI TEFAHOT BANK LTD            | CUSIP: N/A<br>LEI: YZO9YEGEO4VYDZMDWF93       | Long             | EC               | CORP              | IL        |      1443 | NS      | $47355.97     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO DE SABADELL SA                           | BANCO DE SABADELL SA                | CUSIP: N/A<br>LEI: SI5RG2M0WQQLZCXKRM20       | Long             | EC               | CORP              | ES        |     80069 | NS      | $104133.33    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| LOBLAW COS LTD                                 | LOBLAW COS LTD DTC ELIGIBLE         | CUSIP: 539481101<br>LEI: 5493008LN3O1DIDTSH67 | Long             | EC               | CORP              | CA        |      1429 | NS      | $127655.26    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN TOBACCO INC                              | JAPAN TOBACCO INC                   | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |      8000 | NS      | $163328.08    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATIONAL RAILWAY CO                   | CANADIAN NATL RAILWAY CO            | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |       671 | NS      | $79644.01     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SECOM CO LTD                                   | SECOM CO LTD                        | CUSIP: N/A<br>LEI: 529900TYCL9N3E9PGE47       | Long             | EC               | CORP              | JP        |       900 | NS      | $53434.58     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CRESCENT POINT ENERGY CORP                     | CRESCENT POINT ENERGY CORP          | CUSIP: 22576C101<br>LEI: 549300FTKUHZK8OC7N74 | Long             | EC               | CORP              | CA        |      3439 | NS      | $25618.21     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO PLC                   | BRITISH AMERICAN TOBACCO PLC        | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |      3965 | NS      | $151125.40    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSILORLUXOTTICA                               | ESSILORLUXOTTICA                    | CUSIP: N/A<br>LEI: 549300M3VH1A3ER1TB49       | Long             | EC               | CORP              | FR        |       246 | NS      | $44857.56     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                                        | SSE PLC                             | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |     10178 | NS      | $215956.89    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TAISEI CORP                                    | TAISEI CORP                         | CUSIP: N/A<br>LEI: 529900TF7XJKIOWMLQ79       | Long             | EC               | CORP              | JP        |      1800 | NS      | $62009.30     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIMANO INC                                    | SHIMANO INC                         | CUSIP: N/A<br>LEI: 529900L32YT3P9DECR10       | Long             | EC               | CORP              | JP        |       300 | NS      | $53035.49     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MACQUARIE GROUP LTD                            | MACQUARIE GROUP LTD                 | CUSIP: N/A<br>LEI: ACMHD8HWFMFUIQQ8Y590       | Long             | EC               | CORP              | AU        |       550 | NS      | $72605.02     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLARAMA INC                                  | DOLLARAMA INC                       | CUSIP: 25675T107<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | EC               | CORP              | CA        |       693 | NS      | $41325.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SONIC HEALTHCARE LTD                           | SONIC HEALTHCARE LTD                | CUSIP: N/A<br>LEI: 549300NQQ5L2NONWR862       | Long             | EC               | CORP              | AU        |      2605 | NS      | $57968.67     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| SAGE GROUP PLC                                 | SAGE GROUP PLC                      | CUSIP: N/A<br>LEI: 2138005RN5XYLTF8G138       | Long             | EC               | CORP              | GB        |      3394 | NS      | $32457.45     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVO-NORDISK AS                                | NOVO-NORDISK AS CL B                | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |      2226 | NS      | $306449.53    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ZURICH INSURANCE GROUP AG                      | ZURICH INSURANCE GROUP AG           | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |       232 | NS      | $114188.19    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| COLOPLAST AS                                   | COLOPLAST AS CL B                   | CUSIP: N/A<br>LEI: 529900NN7SOJ5QG82X67       | Long             | EC               | CORP              | DK        |       639 | NS      | $76738.21     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| INDUSTRIA DE DISENO TEXTIL INDITEX SA          | INDITEX SA                          | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |      2293 | NS      | $71272.75     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MANULIFE FINANCIAL CORP                        | MANULIFE FINANCIAL CORP             | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |      2440 | NS      | $48147.19     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BUREAU VERITAS SA                              | BUREAU VERITAS SA                   | CUSIP: N/A<br>LEI: 969500TPU5T3HA5D1F11       | Long             | EC               | CORP              | FR        |      2403 | NS      | $68480.58     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK KGAA                                     | MERCK KGAA                          | CUSIP: N/A<br>LEI: 529900OAREIS0MOPTW25       | Long             | EC               | CORP              | DE        |       456 | NS      | $94615.37     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ICL GROUP LTD                                  | ICL GROUP LTD                       | CUSIP: N/A<br>LEI: 529900FQVQD88SHIGM04       | Long             | EC               | CORP              | IL        |      3711 | NS      | $29211.59     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DAITO TRUST CONSTRUCTION CO LTD                | DAITO TRUST CONSTRUCTION            | CUSIP: N/A<br>LEI: 353800QQ4DRI3KXS3038       | Long             | EC               | CORP              | JP        |      2300 | NS      | $226736.90    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SNAM SPA                                       | SNAM SPA                            | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               | CORP              | IT        |     40476 | NS      | $205464.17    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ENI SPA                                        | ENI SPA                             | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |      1330 | NS      | $20418.70     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX PLC                                       | RELX PLC                            | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |      2954 | NS      | $87352.80     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ENAGAS SA                                      | ENAGAS SA                           | CUSIP: N/A<br>LEI: 213800OU3FQKGM4M2U23       | Long             | EC               | CORP              | ES        |     10624 | NS      | $189976.38    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EDENRED                                        | EDENRED                             | CUSIP: N/A<br>LEI: 9695006LOD5B2D7Y0N70       | Long             | EC               | CORP              | FR        |       617 | NS      | $33497.94     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLO AMERICAN PLC                             | ANGLO AMERICAN PLC                  | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |      1578 | NS      | $67342.86     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVARTIS AG                                    | NOVARTIS AG (REG)                   | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |      2984 | NS      | $267821.10    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO TINTO LTD                                  | RIO TINTO LTD                       | CUSIP: N/A<br>LEI: 529900X2VMAQT2PE0V24       | Long             | EC               | CORP              | AU        |       400 | NS      | $35694.75     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TORONTO DOMINION BANK                      | TORONTO-DOMINION BANK               | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |      1711 | NS      | $118045.98    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| IPSEN                                          | IPSEN PROMESSES                     | CUSIP: N/A<br>LEI: 549300M6SGDPB4Z94P11       | Long             | EC               | CORP              | FR        |       682 | NS      | $71402.14     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUI and CO LTD                              | MITSUI and CO LTD                   | CUSIP: N/A<br>LEI: 2NRSB4GOU9DD6CNW5R48       | Long             | EC               | CORP              | JP        |      3600 | NS      | $105748.01    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CSL LTD                                        | CSL LIMITED                         | CUSIP: N/A<br>LEI: 529900ECSECK5ZDQTE14       | Long             | EC               | CORP              | AU        |       740 | NS      | $155431.13    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CAIXABANK SA                                   | CAIXABANK SA                        | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |     19845 | NS      | $87654.68     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCHE HOLDING AG                               | ROCHE HOLDINGS AG (GENUSSCHEINE)    | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |       886 | NS      | $275081.90    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE LTD                                       | NICE LTD                            | CUSIP: N/A<br>LEI: 254900YTY4EF5Z4W0A51       | Long             | EC               | CORP              | IL        |       147 | NS      | $30247.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| USS CO LTD                                     | USS CO LTD                          | CUSIP: N/A<br>LEI: 5299000RRQD6UZXG4W72       | Long             | EC               | CORP              | JP        |      2300 | NS      | $37689.26     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| HERMES INTL SCA                                | HERMES INTERNATIONAL SA             | CUSIP: N/A<br>LEI: 969500Y4IJGHJE2MTJ13       | Long             | EC               | CORP              | FR        |        29 | NS      | $53998.95     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SONOVA HLDG AG                                 | SONOVA HLDG AG                      | CUSIP: N/A<br>LEI: 5299004A0QNX7FBNHS61       | Long             | EC               | CORP              | CH        |       178 | NS      | $44153.69     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DASSAULT AVIATION SA                           | DASSAULT AVIATION SA                | CUSIP: N/A<br>LEI: 969500CVFTUT88V8QN95       | Long             | EC               | CORP              | FR        |       436 | NS      | $74200.24     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO MITSUI TR HLDGS INC                   | SUMITOMO MITSUI TR HLDGS INC        | CUSIP: N/A<br>LEI: 353800P843RLCDBLNT17       | Long             | EC               | CORP              | JP        |      2000 | NS      | $72820.95     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| OVERSEA-CHINESE BKG CORP LTD                   | OVERSEA-CHINESE BKG CORP LTD        | CUSIP: N/A<br>LEI: 5493007O3QFXCPOGWK22       | Long             | EC               | CORP              | SG        |      8281 | NS      | $81464.85     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NOMURA RESH INST LTD                           | NOMURA RESEARCH INSTITUTE LTD       | CUSIP: N/A<br>LEI: 5299005F1HCVF4M4QN79       | Long             | EC               | CORP              | JP        |      1300 | NS      | $30989.27     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ISRAEL DISCOUNT BANK LTD                       | ISRAEL DISCOUNT BANK LTD CL A       | CUSIP: 465074201<br>LEI: 549300XWZ7BG5G23OF51 | Long             | EC               | CORP              | IL        |      9476 | NS      | $48100.55     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TOYO SUISAN KAISHA LTD                         | TOYO SUISAN KAISHA LTD              | CUSIP: 892306101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3000 | NS      | $123880.20    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE             | CANADIAN IMP BK OF COMMERCE         | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |      1051 | NS      | $47841.83     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION SOFTWARE INC                     | CONSTELLATION SOFTWARE INC          | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |        20 | NS      | $35234.68     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BANDAI NAMCO HOLDINGS INC                      | BANDAI NAMCO HOLDINGS INC           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       700 | NS      | $46593.10     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE SYSTEMS PLC                                | BAE SYSTEMS PLC                     | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |      6848 | NS      | $72233.14     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DAI NIPPON PRINTING LTD JAPAN                  | DAI NIPPON PRINTING CO LTD          | CUSIP: N/A<br>LEI: 529900S7NFNQ4FT6OP83       | Long             | EC               | CORP              | JP        |      2600 | NS      | $61178.82     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| KONE OYJ                                       | KONE OYJ B                          | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |      1513 | NS      | $82225.41     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| GALENICA AG                                    | GALENICA SANTE LTD                  | CUSIP: N/A<br>LEI: 506700W4772BD8016Z20       | Long             | EC               | CORP              | CH        |       631 | NS      | $49106.39     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                        | GSK PLC                             | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |      7144 | NS      | $125187.73    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU CORPORATION                             | ITOCHU CORP                         | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |      2900 | NS      | $93280.79     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SOMPO HOLDINGS INC                             | SOMPO HOLDINGS INC                  | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               | CORP              | JP        |      1500 | NS      | $64420.01     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| OPEN TEXT CORPORATION                          | OPEN TEXT CORPORATION               | CUSIP: 683715106<br>LEI: 549300UQROQS42RKHM85 | Long             | EC               | CORP              | CA        |       520 | NS      | $17392.44     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL KPN NV (KONINKLIJKE KPN)                 | KPN (KON) NV                        | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |     53985 | NS      | $184158.12    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLICIS GROUPE SA                             | PUBLICIS GROUPE SA                  | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |      3378 | NS      | $237510.14    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO TINTO PLC                                  | RIO TINTO PLC                       | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |      1066 | NS      | $82927.56     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| DASSAULT SYSTEMES SA                           | DASSAULT SYSTEMES SA                | CUSIP: N/A<br>LEI: 96950065LBWY0APQIM86       | Long             | EC               | CORP              | FR        |       928 | NS      | $34327.52     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| VERMILION ENERGY INC                           | VERMILION ENERGY INC                | CUSIP: 923725105<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | EC               | CORP              | CA        |      1043 | NS      | $15945.74     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CGI INC                                        | CGI INC CL A SUB VTG                | CUSIP: 12532H104<br>LEI: 549300WSRCZY73ZG3090 | Long             | EC               | CORP              | CA        |       291 | NS      | $24870.27     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BEIERSDORF AG                                  | BEIERSDORF AG                       | CUSIP: N/A<br>LEI: L47NHHI0Z9X22DV46U41       | Long             | EC               | CORP              | DE        |       896 | NS      | $108598.05    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| INTACT FINANCIAL CORP                          | INTACT FINL CORP                    | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |       252 | NS      | $36454.87     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI CORP                                | MITSUBISHI CORP                     | CUSIP: N/A<br>LEI: KVIPTY4PULAPGC1VVD26       | Long             | EC               | CORP              | JP        |      2800 | NS      | $93358.45     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ORKLA ASA                                      | ORKLA ASA                           | CUSIP: N/A<br>LEI: 549300PZS8G8RG6RVZ52       | Long             | EC               | CORP              | NO        |     10760 | NS      | $80170.12     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNTORY BEVERAGE and FOOD LTD                  | SUNTORY BEVERAGE and FOOD LTD       | CUSIP: N/A<br>LEI: 549300FONLMVK7YYYH41       | Long             | EC               | CORP              | JP        |      3300 | NS      | $111146.14    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDIBANK PRIVATE LIMITED                       | MEDIBANK PRIVATE LIMITED            | CUSIP: N/A<br>LEI: BDYVSUPTML83OLINBJ17       | Long             | EC               | CORP              | AU        |     15403 | NS      | $31909.95     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMONWEALTH BANK AUSTRALIA                    | COMMONWEALTH BK OF AUSTRALIA        | CUSIP: N/A<br>LEI: MSFSBD3QN1GSN7Q6C537       | Long             | EC               | CORP              | AU        |      1818 | NS      | $140992.77    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| OBAYASHI CORP                                  | OBAYASHI CORP                       | CUSIP: N/A<br>LEI: 529900YT4O5S0LCXWD54       | Long             | EC               | CORP              | JP        |      7800 | NS      | $60339.11     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDIPAL HLDGS CORP                             | MEDIPAL HOLDINGS CORP               | CUSIP: N/A<br>LEI: 353800PJDODZEA4NP730       | Long             | EC               | CORP              | JP        |      7800 | NS      | $103824.06    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TREND MICRO INC                                | TREND MICRO INC                     | CUSIP: N/A<br>LEI: 3538005O5UJ5RNAGVE16       | Long             | EC               | CORP              | JP        |       600 | NS      | $29482.10     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ELIA GROUP SA/NV                               | ELIA GROUP SA/NV                    | CUSIP: N/A<br>LEI: 549300S1MP1NFDIKT460       | Long             | EC               | CORP              | BE        |      1337 | NS      | $187023.89    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLAS COPCO AB                                 | ATLAS COPCO AB SER A                | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |      6140 | NS      | $72332.58     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVOZYMES A/S                                  | NOVOZYMES A/S B                     | CUSIP: N/A<br>LEI: 529900T6WNZXD2R3JW38       | Long             | EC               | CORP              | DK        |       619 | NS      | $32071.46     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON SE            | LVMH MOET HENNESSY LOUIS VUITTON SE | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |       179 | NS      | $155522.36    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCE RESIDENCE INVESTMENT CORP              | ADVANCE RESID INV CRP NEW REIT      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |        79 | NS      | $192875.54    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                                      | SHELL PLC                           | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |      2615 | NS      | $76426.81     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEPERFORMANCE                                | TELEPERFORMANCE                     | CUSIP: N/A<br>LEI: 9695004GI61FHFFNRG61       | Long             | EC               | CORP              | FR        |       223 | NS      | $61758.23     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| TOWER SEMICONDUCTOR LTD                        | TOWER SEMICONDCTR LTD               | CUSIP: N/A<br>LEI: 54930086ZSNXZOUX0C54       | Long             | EC               | CORP              | IL        |       591 | NS      | $24799.95     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SINO LAND LTD                                  | SINO LAND CO                        | CUSIP: N/A<br>LEI: 529900G5P51053HJVZ92       | Long             | EC               | CORP              | HK        |    153892 | NS      | $199861.02    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTELLAS PHARMA INC                            | ASTELLAS PHARMA INC                 | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |      9000 | NS      | $132358.03    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNCORP GROUP LTD                              | SUNCORP GROUP LTD                   | CUSIP: N/A<br>LEI: 549300BVOKRTHDIWVT46       | Long             | EC               | CORP              | AU        |      5037 | NS      | $44473.01     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK LEUMI LE-ISRAEL                           | BANK LEUMI LE-ISRAEL BM             | CUSIP: N/A<br>LEI: 7JDSZWRGUQY2DSTWCR57       | Long             | EC               | CORP              | IL        |      6133 | NS      | $53832.03     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TIETOEVRY OYJ                                  | TIETOEVRY OYJ                       | CUSIP: N/A<br>LEI: 549300EW2KM4KROKQV31       | Long             | EC               | CORP              | FI        |       997 | NS      | $30253.20     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| IG GROUP HOLDINGS PLC                          | IG GROUP HLDGS PLC                  | CUSIP: N/A<br>LEI: 2138003A5Q1M7ANOUD76       | Long             | EC               | CORP              | GB        |      6326 | NS      | $61991.99     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| WOLTERS KLUWER NV                              | WOLTERS KLUWER NV                   | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |       686 | NS      | $74614.78     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                                | ASTRAZENECA PLC                     | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |      2052 | NS      | $267526.40    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX LTD                                        | ASX LTD                             | CUSIP: N/A<br>LEI: 549300VSBVYUCBIQKT71       | Long             | EC               | CORP              | AU        |       680 | NS      | $33047.80     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI CORP                                      | KDDI CORP                           | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |      6700 | NS      | $209122.23    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MAN GROUP PLC/JERSEY                           | MAN GROUP PLC/JERSEY                | CUSIP: N/A<br>LEI: 2549003YWC1DW6LALB09       | Long             | EC               | CORP              | JE        |     21439 | NS      | $65640.76     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TECK RESOURCES LTD                             | TECK RESOURCES LTD SUB VTG CLB      | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |      1741 | NS      | $75101.70     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN APARTMENT PROPERTIES REIT             | CANADIAN APT PPTY REIT TR UNIT      | CUSIP: 134921105<br>LEI: 549300B1MYVTQEB2DI90 | Long             | EC               | CORP              | CA        |      5446 | NS      | $200804.29    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| INPEX CORPORATION                              | INPEX CORP                          | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               | CORP              | JP        |      3000 | NS      | $32757.89     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPPAN INC                                     | TOPPAN INC                          | CUSIP: 890747108<br>LEI: 3538003H9W4KIDODQY20 | Long             | EC               | CORP              | JP        |      3400 | NS      | $54564.19     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN POST HOLDINGS CO LTD                     | JAPAN POST HOLDINGS CO LTD          | CUSIP: N/A<br>LEI: 5299003D9N4JBS256X18       | Long             | EC               | CORP              | JP        |      8500 | NS      | $74512.67     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| RED ELECTRICA CORPORACION SA                   | RED ELECTRICA CORPORACION SA        | CUSIP: N/A<br>LEI: 5493009HMD0C90GUV498       | Long             | EC               | CORP              | ES        |     10561 | NS      | $186269.13    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP GROUP LTD                                  | BHP GROUP LIMITED                   | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |      2998 | NS      | $104317.26    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE EXCHANGE LTD                         | SINGAPORE EXCHANGE LTD              | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |      6900 | NS      | $48402.63     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CANON INC                                      | CANON INC                           | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |      1900 | NS      | $42267.68     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| YARA INTERNATIONAL ASA                         | YARA INTERNATIONAL ASA              | CUSIP: N/A<br>LEI: 213800WKOUWXWFJ5Z514       | Long             | EC               | CORP              | NO        |       843 | NS      | $37304.43     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TELSTRA GROUP LTD                              | TELSTRA GROUP LTD                   | CUSIP: N/A<br>LEI: 894500WRW54CVN62K416       | Long             | EC               | CORP              | AU        |     71955 | NS      | $206868.61    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| RINGKJOBING LANDBOBANK                         | RINGKJOBING LANDBOBANK (REG)        | CUSIP: N/A<br>LEI: 2138002M5U5K4OUMVV62       | Long             | EC               | CORP              | DK        |       467 | NS      | $67699.93     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                        | BANK OF NOVA SCOTIA                 | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |      1234 | NS      | $66612.97     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPERIAN PLC                                   | EXPERIAN PLC                        | CUSIP: N/A<br>LEI: 635400RXXHHYT1JTSZ26       | Long             | EC               | CORP              | JE        |      1927 | NS      | $70054.90     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| KAJIMA CORP                                    | KAJIMA CORP                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      5100 | NS      | $62512.21     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NISSAN CHEMICAL CORP                           | NISSAN CHEMICAL CORP                | CUSIP: N/A<br>LEI: 3538002E4L1CUGJFFU25       | Long             | EC               | CORP              | JP        |       900 | NS      | $42216.16     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS GROUP AG                                   | UBS GROUP AG                        | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |      5888 | NS      | $124585.27    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY LTD                   | CANADIAN PAC RAILWAY LTD            | CUSIP: 13645T100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1056 | NS      | $83112.47     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| OSAKA GAS CO LTD                               | OSAKA GAS CO LTD                    | CUSIP: N/A<br>LEI: 353800024KMNOPQRWZ02       | Long             | EC               | CORP              | JP        |     13300 | NS      | $214260.45    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| KNORR-BREMSE AG                                | KNORR-BREMSE AG                     | CUSIP: N/A<br>LEI: 5299001GRRO0Z25YZT52       | Long             | EC               | CORP              | DE        |       682 | NS      | $44559.68     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMIRAL GROUP PLC                              | ADMIRAL GROUP PLC                   | CUSIP: N/A<br>LEI: 213800FGVM7Z9EJB2685       | Long             | EC               | CORP              | GB        |      2706 | NS      | $73289.85     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| WESFARMERS LTD                                 | WESFARMERS LTD                      | CUSIP: N/A<br>LEI: 5493003L32ZX9557ST85       | Long             | EC               | CORP              | AU        |      1190 | NS      | $41633.19     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SODEXO SA                                      | SODEXO                              | CUSIP: N/A<br>LEI: 969500LCBOG12HXPYM84       | Long             | EC               | CORP              | FR        |       173 | NS      | $17101.44     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GEBERIT AG                                     | GEBERIT AG (REG)                    | CUSIP: N/A<br>LEI: 52990093Z5OHD6T7BS47       | Long             | EC               | CORP              | CH        |       105 | NS      | $59154.29     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO FORESTRY CO LTD                       | SUMITOMO FORESTRY CO LTD            | CUSIP: N/A<br>LEI: 549300FIIRGO6D5FWR19       | Long             | EC               | CORP              | JP        |      2500 | NS      | $46445.46     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| STANTEC INC                                    | STANTEC INC                         | CUSIP: 85472N109<br>LEI: 549300MZ7NGUZDCP2T16 | Long             | EC               | CORP              | CA        |       653 | NS      | $33943.18     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SONY GROUP CORP                                | SONY GROUP CORP                     | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |      1200 | NS      | $106855.32    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust                   | Fidelity Cash Central Fund          | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |     45073 | NS      | $45082.14     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSICURAZIONI GENERALI SPA                     | ASSICURAZIONI GENERALI SPA          | CUSIP: N/A<br>LEI: 549300X5UKJVE386ZB61       | Long             | EC               | CORP              | IT        |      4210 | NS      | $81843.64     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NGK SPARK PLUG CO LTD                          | NGK SPARK PLUG CO LTD               | CUSIP: N/A<br>LEI: 549300RG3XQGTFM4HH31       | Long             | EC               | CORP              | JP        |      1900 | NS      | $36978.74     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| GAZTRANSPORT ET TECHNIGAZ SA                   | GAZTRANSPORT ET TECHNIGA            | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54       | Long             | EC               | CORP              | FR        |        56 | NS      | $6173.11      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EMPIRE CO LTD                                  | EMPIRE CO LTD NON-VTG CL A          | CUSIP: 291843407<br>LEI: 549300TX0ZUSTEF7C719 | Long             | EC               | CORP              | CA        |      4022 | NS      | $115413.78    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIONOGI and CO LTD                            | SHIONOGI and CO LTD                 | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |      2400 | NS      | $114108.19    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK HAPOALIM B M                              | BANK HAPOALIM LTD (REG)             | CUSIP: N/A<br>LEI: B6ARUI4946ST4S7WOU88       | Long             | EC               | CORP              | IL        |      6162 | NS      | $55103.04     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFESTORE HOLDINGS PLC                         | SAFESTORE HOLDINGS PLC              | CUSIP: N/A<br>LEI: 213800WGA3YSJC1YOH73       | Long             | EC               | CORP              | GB        |     14589 | NS      | $180682.81    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTO TRADER GROUP PLC                          | AUTO TRADER GROUP PLC               | CUSIP: N/A<br>LEI: 213800QLK9BZILB1DI86       | Long             | EC               | CORP              | GB        |     21307 | NS      | $164468.67    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| OBIC CO LTD                                    | OBIC CO LTD                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       200 | NS      | $31912.03     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BOC HONG KONG HOLDINGS LTD                     | BANK OF CHINA HONG KONG LTD         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |     15500 | NS      | $54082.07     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                            | IMPERIAL BRANDS PLC                 | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |      3844 | NS      | $96114.00     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| GALP ENERGIA SGPS SA                           | GALP ENERGIA SGPS SA                | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |       800 | NS      | $10925.66     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FUJIFILM HLDGS CORP                            | FUJIFILM HOLDINGS CORP              | CUSIP: N/A<br>LEI: 529900UBKMFM0ST6H474       | Long             | EC               | CORP              | JP        |       800 | NS      | $42053.14     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE POST AG                               | DEUTSCHE POST AG                    | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |      1685 | NS      | $72065.17     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED OVERSEAS BANK LTD                       | UNITED OVERSEAS BANK (LOC)          | CUSIP: N/A<br>LEI: IO66REGK3RCBAMA8HR66       | Long             | EC               | CORP              | SG        |      3500 | NS      | $79434.70     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SWATCH GROUP AG                                | SWATCH GROUP AG (BR)                | CUSIP: N/A<br>LEI: 529900NTES2LEON1JZ55       | Long             | EC               | CORP              | CH        |       175 | NS      | $62819.05     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PSP SWISS PROPERTY AG                          | PSP SWISS PROPERTY AG               | CUSIP: N/A<br>LEI: 50670042Y437P8X44F56       | Long             | EC               | CORP              | CH        |      1990 | NS      | $246705.85    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| REPSOL YPF SA                                  | REPSOL SA                           | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |       991 | NS      | $16241.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JARDINE MATHESON HOLDINGS LTD                  | JARDINE MATHESON HLD                | CUSIP: N/A<br>LEI: 2138009KENVUNWOLPK41       | Long             | EC               | CORP              | BM        |      1677 | NS      | $88914.54     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BALOISE HOLDINGS AG                            | BALOISE HOLDINGS AG                 | CUSIP: N/A<br>LEI: 529900G5XKBZN48T6283       | Long             | EC               | CORP              | CH        |       344 | NS      | $56200.71     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL HOTELS GROUP PLC NEW          | INTERCONTINENTAL HOTELS GP PLC      | CUSIP: N/A<br>LEI: 2138007ZFQYRUSLU3J98       | Long             | EC               | CORP              | GB        |       559 | NS      | $38524.59     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| RIGHTMOVE PLC                                  | RIGHTMOVE PLC                       | CUSIP: N/A<br>LEI: 2138001JXGCFKBXYB828       | Long             | EC               | CORP              | GB        |     21249 | NS      | $153504.79    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| TIS INC                                        | TIS INC                             | CUSIP: N/A<br>LEI: 35380064HYEZXBQHDF07       | Long             | EC               | CORP              | JP        |      1200 | NS      | $34418.86     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AP MOLLER MAERSK AS                            | A P MOLLER - MAERSK A/S B           | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |        24 | NS      | $51908.08     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LTD                 | FAIRFAX FINL HLDGS LTD SUB VTG      | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |        50 | NS      | $33007.46     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                         | UCB SA                              | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |       945 | NS      | $77363.79     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE FINANCIERE RICHEMONT AG SWITZ        | CIE FINANCIERE RICHEMONT SA A       | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |       651 | NS      | $99483.43     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EMS-CHEMIE HOLDING AG                          | EMS-CHEMIE HOLDING AG               | CUSIP: N/A<br>LEI: 529900G1XFTGSE0DIX60       | Long             | EC               | CORP              | CH        |        45 | NS      | $33281.63     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HONDA MOTOR CO LTD                             | HONDA MOTOR CO LTD                  | CUSIP: N/A<br>LEI: 549300P7ZYCQJ36CCS16       | Long             | EC               | CORP              | JP        |      2500 | NS      | $61651.74     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HEINEKEN HOLDING NV                            | HEINEKEN HOLDING NV                 | CUSIP: N/A<br>LEI: 724500M1WJLFM9TYBS04       | Long             | EC               | CORP              | NL        |      1227 | NS      | $100809.93    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMCORP AS                                     | SIMCORP AS                          | CUSIP: N/A<br>LEI: 5299000WVEJNSG42AK88       | Long             | EC               | CORP              | DK        |       352 | NS      | $24512.25     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MONCLER SPA                                    | MONCLER SPA                         | CUSIP: N/A<br>LEI: 815600EBD7FB00525B20       | Long             | EC               | CORP              | IT        |       918 | NS      | $57028.05     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAGEO PLC                                     | DIAGEO PLC                          | CUSIP: N/A<br>LEI: 213800ZVIELEA55JMJ32       | Long             | EC               | CORP              | GB        |      3731 | NS      | $161681.84    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ONO PHARMACEUTICAL CO LTD                      | ONO PHARMACEUTICAL CO LTD           | CUSIP: N/A<br>LEI: 529900G26L4NG4GFJZ86       | Long             | EC               | CORP              | JP        |      4800 | NS      | $104216.23    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LTD                 | CANADIAN NATL RESOURCES LTD         | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |       790 | NS      | $48352.61     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TESCO PLC                                      | TESCO PLC                           | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |     27846 | NS      | $84297.49     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESTOR AB                                    | INVESTOR AB SER B                   | CUSIP: N/A<br>LEI: 549300VEBQPHRZBKUX38       | Long             | EC               | CORP              | SE        |      4623 | NS      | $89348.80     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTESCUE METALS GROUP LTD                     | FORTESCUE METALS GROUP LTD          | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |      1997 | NS      | $31295.82     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SOJITZ CORPORATION                             | SOJITZ CORPORATION                  | CUSIP: N/A<br>LEI: 5493004SE33MRLPB1W98       | Long             | EC               | CORP              | JP        |      3400 | NS      | $67165.98     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| K and S AG                                     | K+S AG                              | CUSIP: N/A<br>LEI: 529900YURAYD4IJX2J91       | Long             | EC               | CORP              | DE        |      1547 | NS      | $36895.42     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| KONINKLIJKE AHOLD DELHAIZE NV                  | KONINKLIJKE AHOLD DELHAIZE NV       | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |      4191 | NS      | $124646.55    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SEKISUI HOUSE LTD                              | SEKISUI HOUSE LTD                   | CUSIP: N/A<br>LEI: 529900GMNDOYQSAJAE76       | Long             | EC               | CORP              | JP        |      2600 | NS      | $49003.04     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PANDORA A/S                                    | PANDORA A/S                         | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |       602 | NS      | $49743.35     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SSAB AB (SWD STL)                              | SSAB AB (SWED STL) A                | CUSIP: N/A<br>LEI: 529900329VS14ZIML164       | Long             | EC               | CORP              | SE        |      7283 | NS      | $51712.37     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV                                | ASML HOLDING NV                     | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       249 | NS      | $162958.98    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| LA FRANCAISE DES JEUX                          | LA FRANCAISE DES JEUX SAEM          | CUSIP: N/A<br>LEI: 969500R4CLSQFTYYI535       | Long             | EC               | CORP              | FR        |       352 | NS      | $15004.87     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC (UNGTD)                           | BARCLAYS PLC ORD                    | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |     42712 | NS      | $97719.77     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF MONTREAL QUE                           | BANK OF MONTREAL                    | CUSIP: 063671101<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | EC               | CORP              | CA        |       704 | NS      | $70645.33     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST FRASER TIMBER CO                          | WEST FRASER TIMBER LTD              | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |       518 | NS      | $44911.32     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES US                                 | MSCI EAFE FUT MAR23 MFSH3           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $8328.06      | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WHITECAP RESOURCES INC                         | WHITECAP RESOURCES INC              | CUSIP: 96467A200<br>LEI: 5493004AMPGZA0JO5Q37 | Long             | EC               | CORP              | CA        |      3459 | NS      | $28748.31     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA SPA | RECORDATI SPA                       | CUSIP: N/A<br>LEI: 815600FBF92FD3531704       | Long             | EC               | CORP              | IT        |      1485 | NS      | $64721.03     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN UTILITIES LTD                         | CANADIAN UTIL LTD NON VTG CL A      | CUSIP: 136717832<br>LEI: LWV4QIQODEH3VBHUFX07 | Long             | EC               | CORP              | CA        |      6823 | NS      | $189091.72    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ALCON INC                                      | ALCON INC                           | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |      1089 | NS      | $81383.12     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| KUEHNE and NAGEL INTERNATIONAL AG              | KUEHNE and NAGEL INTL AG REGD       | CUSIP: N/A<br>LEI: 529900Q0YED3805QXQ66       | Long             | EC               | CORP              | CH        |       195 | NS      | $46184.49     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| UNILEVER PLC                                   | UNILEVER PLC ORD                    | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |      4003 | NS      | $202470.72    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSITY AB                                      | ESSITY AB B                         | CUSIP: N/A<br>LEI: 549300G8E6YUVJ1DA153       | Long             | EC               | CORP              | SE        |      3968 | NS      | $103351.89    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS GROUP PLC                              | COMPASS GROUP PLC                   | CUSIP: N/A<br>LEI: 2138008M6MH9OZ6U2T68       | Long             | EC               | CORP              | GB        |      2246 | NS      | $53393.13     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NESTLE SA                                      | NESTLE SA (REG)                     | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |      3563 | NS      | $432330.06    | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON TELEGRAPH and TELEPHONE CORP            | NIPPON TELEGRAPH and TELEPHONE      | CUSIP: N/A<br>LEI: 353800VHQU5VIXVUA841       | Long             | EC               | CORP              | JP        |      6800 | NS      | $203511.09    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI                                         | SANOFI                              | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |      1798 | NS      | $175100.21    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL BANK OF CANADA                           | ROYAL BANK OF CANADA                | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |      1301 | NS      | $132756.89    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TOKIO MARINE HOLDINGS INC                      | TOKIO MARINE HOLDINGS INC           | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |      4400 | NS      | $91826.68     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SECURITAS AB                                   | SECURITAS AB SER B                  | CUSIP: N/A<br>LEI: 635400TTYKE8EIWDS617       | Long             | EC               | CORP              | SE        |      4785 | NS      | $43573.12     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ORION OYJ                                      | ORION OYJ (NEW) B                   | CUSIP: N/A<br>LEI: 74370029VAHCXDR7B745       | Long             | EC               | CORP              | FI        |      1389 | NS      | $74204.27     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| EPIROC AB                                      | EPIROC AB CL A                      | CUSIP: N/A<br>LEI: 5493004Q73OEYW1SPE91       | Long             | EC               | CORP              | SE        |      2810 | NS      | $54456.53     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| THALES SA                                      | THALES                              | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |       559 | NS      | $73702.18     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer