# EDGAR Filing Document

**Accession Number:** 0000313850
**File Stem:** 0001752724-25-163100
**Filing Date:** 2025-6
**Character Count:** 86040
**Document Hash:** f6856d779a4c4701f3d4f57f745d18b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-163100.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001752724-25-163100

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD TRUSTEES' EQUITY FUND
- **CENTRAL INDEX KEY:** 0000313850

**ORGANIZATION NAME:**
- **EIN:** 232120820
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02968-99
- **FILM NUMBER:** 251090693

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD TRUSTEES EQUITY FUNDS
- **DATE OF NAME CHANGE:** 20011121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD TRUSTEES EQUITY FUND
- **DATE OF NAME CHANGE:** 19930303

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRUSTEES COMINGLED FUND
- **DATE OF NAME CHANGE:** 19930302

## Series and Classes Contracts Data

### Vanguard Emerging Markets Select Stock Fund (Series ID: S000032976)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000101729 | Investor Shares | VMMSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VANGUARD TRUSTEES' EQUITY FUND

- **b. Investment Company Act file number:** 811-02968-99

- **c. CIK number of Registrant:** 0000313850

- **d. LEI of Registrant:** 549300EQOO1PY5885755

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

  - **Street Address 1:** 100 Vanguard Boulevard

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

  - **Telephone number:** 610-669-1000

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

- **a. Name of Series:** VANGUARD EMERGING MARKETS SELECT STOCK FUND

- **b. EDGAR series identifier (if any):** S000032976

- **c. LEI of Series:** DR3FEI5HE6DDWHXGTR43

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $775684048.47

**Total Liabilities:** $5140459.62

**Net Assets:** $770543588.85

**Cash Not Reported:** $3498009.25

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000101729 | 0.87%                | 1.69%                | -0.45%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1802085.91             | $7554297.70                                |
| Month 2  | $-2744448.36             | $14567770.70                               |
| Month 3  | $-3045786.95             | $-2483635.01                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Emirates NBD Bank PJSC                                 | EMIRATES NBD PJS                      | CUSIP: N/A<br>LEI: 54930029BCN8HF3B1286       | Long             | EC               | CORP              | AE        |    328514 | NS      | $1838521.42   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Tadawul Group Holding Co                         | SAUDI TADAWUL GR                      | CUSIP: N/A<br>LEI: 894500BXFAWZK686TP37       | Long             | EC               | CORP              | SA        |     33661 | NS      | $1648947.94   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Brilliance China Automotive Holdings Ltd               | BRILLIANCE CHINA                      | CUSIP: N/A<br>LEI: 5299005WPCSQN14NBM26       | Long             | EC               | CORP              | HK        |   2290000 | NS      | $810545.91    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| ASPEED Technology Inc                                  | ASPEED TECH                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     20646 | NS      | $1942300.39   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhou International Group Holdings Ltd              | SHENZHOU INTL GP                      | CUSIP: N/A<br>LEI: 529900B4W41TCUKJFM73       | Long             | EC               | CORP              | HK        |    242300 | NS      | $1679550.77   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ANTA Sports Products Ltd                               | ANTA SPORTS                           | CUSIP: N/A<br>LEI: 529900291XG0CTK4LF95       | Long             | EC               | CORP              | HK        |    132123 | NS      | $1561141.17   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Kotak Mahindra Bank Ltd                                | KOTAK MAHINDRA                        | CUSIP: Y4964H150<br>LEI: 335800E6GTTXKHXE2I75 | Long             | EC               | CORP              | IN        |    149641 | NS      | $3910989.07   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd                                | RELIANCE INDS                         | CUSIP: Y72596102<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |    819432 | NS      | $13606114.39  | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| GMK Norilskiy Nickel PAO                               | MMC NORILSK NICK                      | CUSIP: N/A<br>LEI: 253400JPTEEW143W3E47       | Long             | EC               | CORP              | RU        |    124700 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Banca Transilvania SA                                  | BANCA TRANSILVAN                      | CUSIP: N/A<br>LEI: 549300RG3H390KEL8896       | Long             | EC               | CORP              | RO        |    136748 | NS      | $880110.76    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bradesco SA                                      | BRADESCO SA-PREF                      | CUSIP: N/A<br>LEI: 549300CTUU1RFXHQJE44       | Long             | EP               | CORP              | BR        |    531100 | NS      | $1284900.49   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Anker Innovations Technology Co Ltd                    | ANKER INNOVATI-A                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    242930 | NS      | $2981159.81   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| KGHM Polska Miedz SA                                   | KGHM                                  | CUSIP: N/A<br>LEI: G30CO71KTT9JDYJESN22       | Long             | EC               | CORP              | PL        |     40397 | NS      | $1289572.28   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Natura & Co Holding SA                                 | NATURA &CO HOLDI                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |   3185600 | NS      | $5338194.76   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| China National Building Material Co Ltd                | CHINA NATL BDG-H                      | CUSIP: N/A<br>LEI: 52990085PGF8YEPLBZ26       | Long             | EC               | CORP              | HK        |   1786028 | NS      | $866037.28    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Bangkok Bank PCL                                       | BANGKOK BANK-F                        | CUSIP: N/A<br>LEI: 549300CCL2BKJGMYXV60       | Long             | EC               | CORP              | TH        |    524400 | NS      | $2196348.26   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Duality Biotherapeutics Inc                            | DUALITY BIOTHERA                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |      8400 | NS      | $224632.52    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Patanjali Foods Ltd                                    | PATANJALI FOODS                       | CUSIP: N/A<br>LEI: 335800EXLHZBCGE81H10       | Long             | EC               | CORP              | IN        |     22008 | NS      | $495821.97    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| VEON Ltd                                               | VEON LTD                              | CUSIP: N/A<br>LEI: 5493008CA3NMHYEVT131       | Long             | EC               | CORP              | US        |     33696 | NS      | $1528450.56   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Luckin Coffee Inc                                      | LUCKIN COFFE-ADR                      | CUSIP: 54951L109<br>LEI: 549300FO16ASCVSMYI15 | Long             | EC               | CORP              | US        |     93884 | NS      | $3006165.68   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Minth Group Ltd                                        | MINTH GROUP LTD                       | CUSIP: G6145U109<br>LEI: 254900B2AH0G13K9G204 | Long             | EC               | CORP              | HK        |    268704 | NS      | $641831.43    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Kweichow Moutai Co Ltd                                 | KWEICHOW MOUTA-A                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     28885 | NS      | $6153958.59   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Copa Holdings SA                                       | COPA HOLDIN-CL A                      | CUSIP: P31076105<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | US        |     20622 | NS      | $1892274.72   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                             | SAMSUNG ELECTRON                      | CUSIP: Y74718100<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    410395 | NS      | $16012601.13  | 2.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Vietnam Dairy Products JSC                             | VIET NAM DAIRY P                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VN        |   1915970 | NS      | $4250219.45   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Varun Beverages Ltd                                    | VARUN BEVERAGES                       | CUSIP: N/A<br>LEI: 33580058NWEMWBDNMD48       | Long             | EC               | CORP              | IN        |    276520 | NS      | $1707201.49   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| NAVER Corp                                             | NAVER CORP                            | CUSIP: N/A<br>LEI: 988400ULUQYDB2HQYJ61       | Long             | EC               | CORP              | KR        |      6089 | NS      | $856756.29    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Shriram Finance Ltd                                    | SHRIRAM FINANCE                       | CUSIP: N/A<br>LEI: 335800TM2YO24B76XL26       | Long             | EC               | CORP              | IN        |    242087 | NS      | $1754333.95   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Indorama Ventures PCL                                  | INDORAMA-NVDR                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |   5776500 | NS      | $3281890.85   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Yue Yuen Industrial Holdings Ltd                       | YUE YUEN IND                          | CUSIP: N/A<br>LEI: 254900YUFIBANZ1XU687       | Long             | EC               | CORP              | HK        |   1224500 | NS      | $1758011.82   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Allegro.eu SA                                          | ALLEGRO.EU SA                         | CUSIP: N/A<br>LEI: 222100VRLXV3FPMG4982       | Long             | EC               | CORP              | PL        |    284916 | NS      | $2499972.31   | 0.32%             |  |  |  | Yes           |                  2 | On Loan: No      |
| WONIK IPS Co Ltd                                       | WONIK IPS CO LTD                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     91246 | NS      | $1453511.12   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Haier Smart Home Co Ltd                                | HAIER SMART H-H                       | CUSIP: N/A<br>LEI: 3003002BYTNGNJTWSH07       | Long             | EC               | CORP              | HK        |   3099800 | NS      | $8995708.65   | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Colgate-Palmolive India Ltd                            | COLGATE PALMOLIV                      | CUSIP: N/A<br>LEI: 335800YWKI47DGFKWB26       | Long             | EC               | CORP              | IN        |     29865 | NS      | $915180.80    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Ambuja Cements Ltd                                     | AMBUJA CEMENTS                        | CUSIP: N/A<br>LEI: 335800NT6LQHR1428E20       | Long             | EC               | CORP              | IN        |    158861 | NS      | $1012803.81   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Sichuan Kelun-Biotech Biopharmaceutical Co Ltd         | SICHUAN KELUN-BI                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |      4738 | NS      | $202684.56    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Akbank TAS                                             | AKBANK                                | CUSIP: N/A<br>LEI: 789000TUMN63Z28TJ497       | Long             | EC               | CORP              | TR        |   2235325 | NS      | $2840471.27   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhongsheng Group Holdings Ltd                          | ZHONGSHENG GROUP                      | CUSIP: N/A<br>LEI: 3003005VYMEBAJNJ2Y26       | Long             | EC               | CORP              | HK        |   2387000 | NS      | $3591675.10   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco BTG Pactual SA                                   | BCO BTG PAC-UNIT                      | CUSIP: N/A<br>LEI: ZXLTQRYIK6IJH3R0IK66       | Long             | EC               | CORP              | BR        |    276966 | NS      | $1859893.44   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SCB X PCL                                              | SCB X PCL-FOREIG                      | CUSIP: N/A<br>LEI: 254900TG41KIWX7VDO42       | Long             | EC               | CORP              | TH        |   1918500 | NS      | $6836155.41   | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Globant SA                                             | GLOBANT SA                            | CUSIP: L44385109<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | US        |     13264 | NS      | $1559448.48   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| E Ink Holdings Inc                                     | E INK HOLDINGS                        | CUSIP: N/A<br>LEI: 529900UOR451FJJYL571       | Long             | EC               | CORP              | TW        |    226000 | NS      | $1578741.84   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| BB Seguridade Participacoes SA                         | BB SEGURIDADE PA                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    137968 | NS      | $1039777.16   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TIM SA/Brazil                                          | TIM SA                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    612890 | NS      | $2046512.52   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Novatek PJSC                                           | NOVATEK PJSC-GDR                      | CUSIP: N/A<br>LEI: 2138008R6GCRVBDFA581       | Long             | EC               | CORP              | GB        |       422 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd              | TSMC                                  | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |   2129553 | NS      | $60339928.58  | 7.83%             |  |  |  | No            |                  2 | On Loan: No      |
| WH Group Ltd                                           | WH GROUP LTD                          | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               | CORP              | HK        |   9981500 | NS      | $8925529.99   | 1.16%             |  |  |  | Yes           |                  2 | On Loan: No      |
| First Quantum Minerals Ltd                             | FIRST QUANTUM                         | CUSIP: 335934105<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | EC               | CORP              | CA        |    332520 | NS      | $4464634.56   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambev SA                                               | AMBEV SA                              | CUSIP: N/A<br>LEI: 549300TH5Q6VRP8OT012       | Long             | EC               | CORP              | BR        |   3734666 | NS      | $9588131.35   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao                            | B3 SA                                 | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               | CORP              | BR        |   1899900 | NS      | $4516118.69   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek Inc                                           | MEDIATEK                              | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    201284 | NS      | $8553174.74   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Aldar Properties PJSC                                  | ALDAR PROPERTIES                      | CUSIP: N/A<br>LEI: 98450048CD8AEF13B480       | Long             | EC               | CORP              | AE        |    280116 | NS      | $630808.30    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| China Resources Sanjiu Medical & Pharmaceutical Co Ltd | CHINA RESOURCE-A                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     54200 | NS      | $306984.42    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| PTT Exploration & Production PCL                       | PTT EXPL & PRO-F                      | CUSIP: N/A<br>LEI: 2549001O8YYGP5N7Q076       | Long             | EC               | CORP              | TH        |    269159 | NS      | $801038.47    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Eicher Motors Ltd                                      | EICHER MOTORS                         | CUSIP: Y2251M148<br>LEI: 25490059S64CN2OY7239 | Long             | EC               | CORP              | IN        |     10981 | NS      | $723114.57    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco de Chile                                         | BANCO DE CHILE                        | CUSIP: N/A<br>LEI: 8B4EZFY8IHJC44TT2K84       | Long             | EC               | CORP              | CL        |  13785996 | NS      | $2023733.95   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| KE Holdings Inc                                        | KE HOLDINGS -ADR                      | CUSIP: N/A<br>LEI: 254900RHVY072XPAZE03       | Long             | EC               | CORP              | US        |    119912 | NS      | $2434213.60   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund      | Vanguard Market Liquidity Fund        | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |     29573 | NS      | $2956978.27   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                         | NU HOLDINGS LT-A                      | CUSIP: G6683N103<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | US        |    222031 | NS      | $2759845.33   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd                                          | AIA                                   | CUSIP: Y002A1105<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    330095 | NS      | $2473372.69   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Greece SA                             | NATL BANK GREECE                      | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |    199619 | NS      | $2118649.87   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Zijin Mining Group Co Ltd                              | ZIJIN MINING-H                        | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | HK        |    808000 | NS      | $1765223.71   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co                                   | SAUDI ARABIAN OI                      | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | EC               | CORP              | SA        |    553050 | NS      | $3739169.88   | 0.49%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hyundai Mobis Co Ltd                                   | HYUNDAI MOBIS                         | CUSIP: N/A<br>LEI: 988400HJA9E0ZVDHRS65       | Long             | EC               | CORP              | KR        |     23799 | NS      | $4467276.93   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| KEC International Ltd                                  | KEC INTL LTD                          | CUSIP: N/A<br>LEI: 335800UCWKGDJBU7ZT31       | Long             | EC               | CORP              | IN        |     78821 | NS      | $652352.97    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Mouwasat Medical Services Co                           | MOUWASAT MEDICAL                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |      8815 | NS      | $170638.47    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Adani Ports & Special Economic Zone Ltd                | ADANI PORTS AND                       | CUSIP: N/A<br>LEI: 335800QOAXP5TM7OYP69       | Long             | EC               | CORP              | IN        |    122658 | NS      | $1764641.03   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| New Issuer: BB Company ID:71327236                     | PONY AI INC                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32125 | NS      | $292016.25    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Yum China Holdings Inc                                 | YUM CHINA HO                          | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |      6275 | NS      | $271770.25    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Airtac International Group                             | AIRTAC INTERNATI                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     29463 | NS      | $809237.21    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Torrent Pharmaceuticals Ltd                            | TORRENT PHARMA                        | CUSIP: N/A<br>LEI: 335800NA6HK275RIJE13       | Long             | EC               | CORP              | IN        |      8840 | NS      | $347652.34    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| FirstRand Ltd                                          | FIRSTRAND LTD                         | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |    927757 | NS      | $3632485.18   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Mexico SAB de CV                                 | GRUPO MEXICO-B                        | CUSIP: N/A<br>LEI: 529900JWLZAYET2ZGW20       | Long             | EC               | CORP              | MX        |    146331 | NS      | $760364.54    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DB Insurance Co Ltd                                    | DB INSURANCE CO                       | CUSIP: N/A<br>LEI: 9884000ZF26VNJBWSJ91       | Long             | EC               | CORP              | KR        |     45820 | NS      | $2951967.69   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Grab Holdings Ltd                                      | GRAB HOLDINGS LTD - CL A              | CUSIP: G4124C109<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | US        |    290510 | NS      | $1417688.80   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc                                              | BIDU-SW                               | CUSIP: N/A<br>LEI: 254900AL64IANZYI1E02       | Long             | EC               | CORP              | HK        |    779550 | NS      | $8596107.17   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| BeiGene Ltd                                            | BEIGENE LTD                           | CUSIP: N/A<br>LEI: 549300JFUK6FRD5MH739       | Long             | EC               | CORP              | HK        |     78250 | NS      | $1581393.29   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                               | BANK CENTRAL ASI                      | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |   3764266 | NS      | $2001423.72   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| United Integrated Services Co Ltd                      | UNITED INTEGRATE                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    203000 | NS      | $2800883.09   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Dr Sulaiman Al Habib Medical Services Group Co         | DR SULAIMAN AL H                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |      3275 | NS      | $249995.55    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhejiang Longsheng Group Co Ltd                        | ZHEJIANG LONGS-A                      | CUSIP: N/A<br>LEI: 300300XYB5YIMVFQA157       | Long             | EC               | CORP              | CN        |   1933100 | NS      | $2612711.29   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaspi.KZ JSC                                           | JSC KASPI.KZ                          | CUSIP: N/A<br>LEI: 2549003YU6FARG8OAZ13       | Long             | EC               | CORP              | US        |     58948 | NS      | $5180939.72   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd                                          | CREDICORP LTD                         | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | US        |     46207 | NS      | $9342593.33   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Abu Dhabi Commercial Bank PJSC                         | ABU DHABI COMMER                      | CUSIP: N/A<br>LEI: 213800RWVKKIRX1AUH58       | Long             | EC               | CORP              | AE        |    544287 | NS      | $1724762.60   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Fomento Economico Mexicano SAB de CV                   | FOMENTO ECON-ADR                      | CUSIP: N/A<br>LEI: 549300A8MDWDJNMLV153       | Long             | EC               | CORP              | US        |     28690 | NS      | $3021343.90   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Airtel Africa PLC                                      | AIRTEL AFRICA                         | CUSIP: N/A<br>LEI: 254900ZNZDQL6OWQH623       | Long             | EC               | CORP              | GB        |   1121386 | NS      | $2566286.32   | 0.33%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Accton Technology Corp                                 | ACCTON TECH                           | CUSIP: N/A<br>LEI: 529900M1YRZ0GWMDF920       | Long             | EC               | CORP              | TW        |    208000 | NS      | $3874274.41   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Yum China Holdings Inc                                 | YUM CHINA HOLDINGS INC - XHKG LISTING | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | HK        |     35040 | NS      | $1636979.58   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Bangkok Bank PCL                                       | BANGKOK BAN-NVDR                      | CUSIP: N/A<br>LEI: 549300CCL2BKJGMYXV60       | Long             | EC               | CORP              | TH        |    802000 | NS      | $3359022.33   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Naspers Ltd                                            | NASPERS LTD-N                         | CUSIP: S53435103<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |      4607 | NS      | $1211374.38   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Raia Drogasil SA                                       | RAIADROGASIL                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     85352 | NS      | $298385.71    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Shanghai Zhangjiang High-Tech Park Development Co Ltd  | SHANG ZHANGJIA-A                      | CUSIP: N/A<br>LEI: 300300QF9LB9KZ188A33       | Long             | EC               | CORP              | CN        |    103783 | NS      | $373972.94    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Vale SA                                                | VALE SA                               | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               | CORP              | BR        |    652311 | NS      | $6075814.64   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| China Construction Bank Corp                           | CCB-H                                 | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | HK        |   2269549 | NS      | $1864270.80   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Awwal Bank                                       | SAUDI AWWAL BANK                      | CUSIP: N/A<br>LEI: 558600TQS0WENZUC5190       | Long             | EC               | CORP              | SA        |     12319 | NS      | $115273.86    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Cia Energetica de Minas Gerais                         | CEMIG-PREF                            | CUSIP: N/A<br>LEI: 254900W703PXLDSEM056       | Long             | EP               | CORP              | BR        |   2842484 | NS      | $5484471.74   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                          | HDFC BANK LTD                         | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |    460595 | NS      | $10461930.03  | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Orion Corp/Republic of Korea                           | ORION CORP/REPUB                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     47764 | NS      | $4140126.45   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Discovery Ltd                                          | DISCOVERY LTD                         | CUSIP: S2192Y109<br>LEI: 378900245A26169C8132 | Long             | EC               | CORP              | ZA        |    102876 | NS      | $1142713.07   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| WEG SA                                                 | WEG SA                                | CUSIP: N/A<br>LEI: 254900NKQV127YFRO022       | Long             | EC               | CORP              | BR        |     62464 | NS      | $491333.79    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc                                  | ANGLOGOLD ASHANT                      | CUSIP: N/A<br>LEI: 2138005YDSA7A82RNU96       | Long             | EC               | CORP              | US        |     13538 | NS      | $570762.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.com Inc                                             | JD-SW                                 | CUSIP: N/A<br>LEI: 549300HVTWB0GJZ16V92       | Long             | EC               | CORP              | HK        |    134151 | NS      | $2184169.38   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Pacific Basin Shipping Ltd                             | PACIFIC BASIN                         | CUSIP: N/A<br>LEI: 254900LNPK737X4Y3V26       | Long             | EC               | CORP              | HK        |  22172139 | NS      | $4971466.65   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Amber Enterprises India Ltd                            | AMBER ENTERPRISE                      | CUSIP: N/A<br>LEI: 3358009JZU4XT3666G06       | Long             | EC               | CORP              | IN        |     14805 | NS      | $1080621.30   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Man Wah Holdings Ltd                                   | MAN WAH HOLDINGS                      | CUSIP: N/A<br>LEI: 52990005BW6K71UPKX41       | Long             | EC               | CORP              | HK        |   4936804 | NS      | $2623611.89   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| China Overseas Land & Investment Ltd                   | CHINA OVERSEAS                        | CUSIP: Y15004107<br>LEI: 529900I6W35GYKRIZ151 | Long             | EC               | CORP              | HK        |   5160885 | NS      | $9156180.30   | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| China Pacific Insurance Group Co Ltd                   | CHINA PACIFIC-H                       | CUSIP: N/A<br>LEI: 529900BA5ILEL308WX03       | Long             | EC               | CORP              | HK        |   1020003 | NS      | $2775187.80   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahindra & Mahindra Ltd                                | MAHINDRA & MAHIN                      | CUSIP: N/A<br>LEI: 3358003B573EV4KB4Z02       | Long             | EC               | CORP              | IN        |     37762 | NS      | $1308347.27   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Midea Group Co Ltd                                     | MIDEA GROUP CO-A                      | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61       | Long             | EC               | CORP              | CN        |    386086 | NS      | $3914368.96   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Zai Lab Ltd                                            | ZAI LAB LTD-ADR                       | CUSIP: N/A<br>LEI: 549300P2UYQ9U5LY1T58       | Long             | EC               | CORP              | US        |     13952 | NS      | $442138.88    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                              | BABA-W                                | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | HK        |   1782070 | NS      | $26606352.67  | 3.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Shandong Weigao Group Medical Polymer Co Ltd           | SHANDONG WEIG-H                       | CUSIP: N/A<br>LEI: 5299005WQUU15JQU8S60       | Long             | EC               | CORP              | HK        |   3910112 | NS      | $2878084.13   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Neoenergia SA                                          | NEOENERGIA                            | CUSIP: N/A<br>LEI: 959800B3RXPMGEZ1W429       | Long             | EC               | CORP              | BR        |    876600 | NS      | $3537199.90   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                                 | PETROBRAS SA-ADR                      | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | US        |    547866 | NS      | $6185407.14   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                              | ALIBABA GRP-ADR                       | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | US        |      8089 | NS      | $966069.27    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LUKOIL PJSC                                            | LUKOIL PJSC-ADR                       | CUSIP: N/A<br>LEI: 549300LCJ1UJXHYBWI24       | Long             | EC               | CORP              | GB        |     35630 | NS      | $0.36         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Moscow Exchange MICEX-RTS PJSC                         | MOSCOW EXCHANGE                       | CUSIP: N/A<br>LEI: 253400M5M1222KPNWE87       | Long             | EC               | CORP              | RU        |    536630 | NS      | $0.07         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Hyundai Motor Co                                       | HYUNDAI MOTOR                         | CUSIP: N/A<br>LEI: 9884004RQX8PRBXQ8S60       | Long             | EC               | CORP              | KR        |     27087 | NS      | $3629644.72   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Zoomlion Heavy Industry Science and Technology Co Ltd  | ZOOMLION HEAVY-A                      | CUSIP: N/A<br>LEI: 529900QZ3EMAU0QKFK85       | Long             | EC               | CORP              | CN        |   1271248 | NS      | $1283508.19   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Zai Lab Ltd                                            | ZAI LAB LTD                           | CUSIP: N/A<br>LEI: 549300P2UYQ9U5LY1T58       | Long             | EC               | CORP              | HK        |     19262 | NS      | $61357.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Uni-President Enterprises Corp                         | UNI-PRESIDENT EN                      | CUSIP: N/A<br>LEI: 254900DAXBDMVEXU5959       | Long             | EC               | CORP              | TW        |    405360 | NS      | $974146.18    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Larsen & Toubro Ltd                                    | LARSEN & TOUBRO                       | CUSIP: Y5217N159<br>LEI: 3358003FR3JIC5FRXA90 | Long             | EC               | CORP              | IN        |     36726 | NS      | $1453710.83   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Weichai Power Co Ltd                                   | WEICHAI POWER-H                       | CUSIP: N/A<br>LEI: 529900OKTPKBG85F9502       | Long             | EC               | CORP              | HK        |   3650000 | NS      | $7120784.51   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| ZTO Express Cayman Inc                                 | ZTO EXPRESS -ADR                      | CUSIP: N/A<br>LEI: 549300SCJPK3YZJTJR78       | Long             | EC               | CORP              | US        |    217785 | NS      | $4029022.50   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund      | Vanguard Market Liquidity Fund        | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |  36191262 | NS      | $36187643.18  | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Gold Mining Co Ltd                             | HARMONY GOLD MNG                      | CUSIP: N/A<br>LEI: 378900986D05F0C29811       | Long             | EC               | CORP              | ZA        |     75943 | NS      | $1193244.73   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd                 | CONTEMPORARY A-A                      | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |     49794 | NS      | $1592093.57   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Baidu Inc                                              | BAIDU INC-SP ADR                      | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | US        |      8144 | NS      | $715206.08    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Goneo Group Co Ltd                                     | GONEO GROUP CO-A                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    212100 | NS      | $2079109.67   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Bajaj Auto Ltd                                         | BAJAJ AUTO LTD                        | CUSIP: N/A<br>LEI: 335800DLAO5NCNN8G863       | Long             | EC               | CORP              | IN        |      8610 | NS      | $818010.22    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Itau Unibanco Holding SA                               | ITAU UNIBAN-PREF                      | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EP               | CORP              | BR        |    766590 | NS      | $4806088.33   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                          | HDFC BANK-ADR                         | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | US        |     40786 | NS      | $2964734.34   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Shenzhen Inovance Technology Co Ltd                    | SHENZHEN INOVA-A                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     63707 | NS      | $627085.21    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                    | MSCI EmgMkt       Jun25               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       558 | NC      | $-691091.53   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| China Merchants Bank Co Ltd                            | CM BANK-H                             | CUSIP: Y14896115<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | HK        |   2118158 | NS      | $11553791.55  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| PetroChina Co Ltd                                      | PETROCHINA-H                          | CUSIP: N/A<br>LEI: 529900RPY4YG47TRSV05       | Long             | EC               | CORP              | HK        |   1235326 | NS      | $943959.59    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Nien Made Enterprise Co Ltd                            | NIEN MADE                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    196000 | NS      | $2400183.07   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| UPL Ltd                                                | UPL LTD                               | CUSIP: N/A<br>LEI: 335800RJSM1SLHO4UA95       | Long             | EC               | CORP              | IN        |    712271 | NS      | $5648807.16   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Richter Gedeon Nyrt                                    | RICHTER GEDEON N                      | CUSIP: N/A<br>LEI: 549300J6ZJW5IH4WEE46       | Long             | EC               | CORP              | HU        |    158009 | NS      | $4792193.27   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                                      | BHARTI AIRTEL                         | CUSIP: N/A<br>LEI: 335800KQ1FPKOQ84OR26       | Long             | EC               | CORP              | IN        |    113616 | NS      | $2506168.08   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| WuXi AppTec Co Ltd                                     | WUAPPTEC CO LT-H                      | CUSIP: N/A<br>LEI: 254900OEPQLZSPLN9175       | Long             | EC               | CORP              | HK        |     41570 | NS      | $321277.72    | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Saudi National Bank/The                                | SAUDI NATIONAL B                      | CUSIP: N/A<br>LEI: 5586006ZEFQ542K7CY16       | Long             | EC               | CORP              | SA        |    137957 | NS      | $1314457.07   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp                                            | XIAOMI CORP-W                         | CUSIP: N/A<br>LEI: 2549001ACVFAZRNMKL32       | Long             | EC               | CORP              | HK        |    432529 | NS      | $2769136.87   | 0.36%             |  |  |  | Yes           |                  2 | On Loan: No      |
| True Corp PCL                                          | TRUE CORP PCL/-R                      | CUSIP: N/A<br>LEI: 894500HQD71STX0DQK07       | Long             | EC               | CORP              | TH        |   4641434 | NS      | $1680360.01   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Rede D'Or Sao Luiz SA                                  | REDE D'OR SAO LU                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     68084 | NS      | $384139.57    | 0.05%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                                 | PETROBRAS                             | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |    227850 | NS      | $1286766.43   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SBI Life Insurance Co Ltd                              | SBI LIFE INSURAN                      | CUSIP: N/A<br>LEI: 335800WMVIESQUO95586       | Long             | EC               | CORP              | IN        |     61158 | NS      | $1279063.44   | 0.17%             |  |  |  | Yes           |                  2 | On Loan: No      |
| OTP Bank Nyrt                                          | OTP BANK PLC                          | CUSIP: X60746181<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |     88978 | NS      | $6572627.25   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd                        | APOLLO HOSPITALS                      | CUSIP: N/A<br>LEI: 3358005YT7JQCWYLTG43       | Long             | EC               | CORP              | IN        |      7978 | NS      | $659413.29    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Wilmar International Ltd                               | WILMAR INTERNATI                      | CUSIP: N/A<br>LEI: 549300H2EAI4YRLWBB20       | Long             | EC               | CORP              | SG        |   2828700 | NS      | $6634656.18   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                     | GRUPO F BANORT-O                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |    447869 | NS      | $3848697.58   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Basic Industries Corp                            | SABIC                                 | CUSIP: N/A<br>LEI: 213800ZCTFZZZJSK8645       | Long             | EC               | CORP              | SA        |     27666 | NS      | $449867.43    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Midea Group Co Ltd                                     | MIDEA GROUP CO-A                      | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61       | Long             | EC               | CORP              | CN        |    108600 | NS      | $1101051.24   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Life Insurance Co Ltd                             | HDFC LIFE INSURA                      | CUSIP: Y3R1AP109<br>LEI: 335800RQI8GAFHIRGZ37 | Long             | EC               | CORP              | IN        |    323182 | NS      | $2841377.84   | 0.37%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Rumo SA                                                | RUMO SA                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    355073 | NS      | $1213785.75   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Anhui Conch Cement Co Ltd                              | CONCH CEMENT-H                        | CUSIP: N/A<br>LEI: 300300JVKW56SSAEQZ33       | Long             | EC               | CORP              | HK        |    417210 | NS      | $1175305.41   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Impala Platinum Holdings Ltd                           | IMPALA PLATINUM                       | CUSIP: N/A<br>LEI: 254900BZFIFB4PD2Z778       | Long             | EC               | CORP              | ZA        |    496045 | NS      | $2950042.16   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ningbo Co Ltd                                  | BANK OF NINGBO-A                      | CUSIP: N/A<br>LEI: 300300C1092133000091       | Long             | EC               | CORP              | CN        |    469712 | NS      | $1546985.36   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco do Brasil SA                                     | BANCO DO BRASIL                       | CUSIP: N/A<br>LEI: QE0Q0253K88YAGNPE356       | Long             | EC               | CORP              | BR        |    880700 | NS      | $4489511.47   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Jubilant Foodworks Ltd                                 | JUBILANT FOODWOR                      | CUSIP: N/A<br>LEI: 9845000D3B99893F5B14       | Long             | EC               | CORP              | IN        |     98310 | NS      | $831293.86    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy Entertainment Group Ltd                         | GALAXY ENTERTAIN                      | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               | CORP              | HK        |   1943000 | NS      | $7017332.80   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Sea Ltd                                                | SEA LTD-ADR                           | CUSIP: N/A<br>LEI: 529900OM6JLLW44YKI15       | Long             | EC               | CORP              | US        |     40603 | NS      | $5442832.15   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| KE Holdings Inc                                        | BEKE-W-CL A                           | CUSIP: N/A<br>LEI: 254900RHVY072XPAZE03       | Long             | EC               | CORP              | HK        |    337337 | NS      | $2290876.90   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk PT                   | BANK RAKYAT INDO                      | CUSIP: Y0697U112<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |  41474693 | NS      | $9605942.78   | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Ozon Holdings PLC                                      | OZON HOLDINGS-AD                      | CUSIP: N/A<br>LEI: 213800GXSI7E5V776B13       | Long             | EC               | CORP              | US        |     35000 | NS      | $0.35         | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| Mitra Adiperkasa Tbk PT                                | MITRA ADIPERKASA                      | CUSIP: N/A<br>LEI: 254900Z2B7Y7F69ZZZ04       | Long             | EC               | CORP              | ID        |   2386705 | NS      | $196503.84    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                                   | TENCENT                               | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | HK        |    644706 | NS      | $39488849.83  | 5.12%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                                       | MERCADOLIBRE INC                      | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      6468 | NS      | $15075937.80  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD Co Ltd                                             | BYD COMPANY                           | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | HK        |     36230 | NS      | $1720787.59   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Vanguard FTSE Emerging Markets ETF                     | VANGUARD FTSE EM                      | CUSIP: 922042858<br>LEI: YNHDFX2L9SSID3XIIE57 | Long             | EC               | RF                | US        |     29358 | NS      | $1328449.50   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Clicks Group Ltd                                       | CLICKS GROUP LTD                      | CUSIP: S17249111<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |     16029 | NS      | $341425.50    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Compal Electronics Inc                                 | COMPAL ELEC                           | CUSIP: N/A<br>LEI: 529900ZPKWFDL21LW166       | Long             | EC               | CORP              | TW        |   1298000 | NS      | $1118450.88   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance Group Co of China Ltd                | PING AN                               | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | HK        |   1209500 | NS      | $7238896.18   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Godrej Consumer Products Ltd                           | GODREJ CONSUMER                       | CUSIP: Y2732X135<br>LEI: 335800P4GUWLGZFK2D63 | Long             | EC               | CORP              | IN        |    107621 | NS      | $1605095.06   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Sociedad Quimica y Minera de Chile SA                  | QUIMICA Y-SP ADR                      | CUSIP: N/A<br>LEI: TJ88LXZZW5PWIN93ZC81       | Long             | EC               | CORP              | US        |     99473 | NS      | $3401976.60   | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| Mobile TeleSystems PJSC                                | MOBILE TELES PJS                      | CUSIP: N/A<br>LEI: 2534008FX8EXH1FMJA74       | Long             | EC               | CORP              | US        |     93946 | NS      | $0.94         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Fabrinet                                               | FABRINET                              | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | US        |      9752 | NS      | $1999745.12   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Valeura Energy Inc                                     | VALEURA ENERGY I                      | CUSIP: 919144402<br>LEI: 2549003ZBCOPPO06GY48 | Long             | EC               | CORP              | CA        |    298221 | NS      | $1626738.66   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Hangzhou Tigermed Consulting Co Ltd                    | HANGZHOU TIGER-A                      | CUSIP: N/A<br>LEI: 300300CP4N8WDF6DOO67       | Long             | EC               | CORP              | CN        |     49400 | NS      | $304008.36    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Lundin Mining Corp                                     | LUNDIN MINING CO                      | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |    342862 | NS      | $2805370.20   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Music Entertainment Group                      | TENCENT MUS-CL A                      | CUSIP: N/A<br>LEI: 213800XTZK2GOHQTYK41       | Long             | EC               | CORP              | HK        |    156426 | NS      | $1056207.67   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| WNS Holdings Ltd                                       | WNS HOLDINGS LTD                      | CUSIP: G98196101<br>LEI: 529900RM7QHUD3W9DM42 | Long             | EC               | CORP              | US        |     23230 | NS      | $1405879.60   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd                                            | INFOSYS LTD-ADR                       | CUSIP: N/A<br>LEI: 335800TYLGG93MM7PR89       | Long             | EC               | CORP              | US        |     52299 | NS      | $920462.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hankook Tire & Technology Co Ltd                       | HANKOOK TIRE & T                      | CUSIP: N/A<br>LEI: 9884001BIEVM09M7AH02       | Long             | EC               | CORP              | KR        |    152172 | NS      | $4419960.61   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Coupang Inc                                            | COUPANG INC                           | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |    142218 | NS      | $3323634.66   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Music Entertainment Group                      | TENCENT MUSI-ADR                      | CUSIP: N/A<br>LEI: 213800XTZK2GOHQTYK41       | Long             | EC               | CORP              | US        |     78212 | NS      | $1049605.04   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd                      | HON HAI                               | CUSIP: N/A<br>LEI: 30030004CM3GSZXX7O56       | Long             | EC               | CORP              | TW        |    280685 | NS      | $1250534.95   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Properties PJSC                                  | EMAAR PROP PJSC                       | CUSIP: N/A<br>LEI: 254900YWYEXYXK1BMP81       | Long             | EC               | CORP              | AE        |    269168 | NS      | $961805.00    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Rainbow Children's Medicare Ltd                        | RAINBOW CHILDREN                      | CUSIP: N/A<br>LEI: 894500O094S259NC7H64       | Long             | EC               | CORP              | IN        |     19643 | NS      | $321102.58    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd                          | ASE TECHNOLOGY H                      | CUSIP: N/A<br>LEI: 300300GO8QHPMV87NZ73       | Long             | EC               | CORP              | TW        |    260950 | NS      | $1111959.65   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Raizen SA                                              | RAIZEN SA - PN                        | CUSIP: N/A<br>LEI: 5493000WQL3QP7QXX484       | Long             | EP               | CORP              | BR        |   2547300 | NS      | $812421.35    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Silergy Corp                                           | SILERGY                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    203000 | NS      | $2559078.31   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd                         | SHINHAN FINANCIA                      | CUSIP: N/A<br>LEI: 988400EB8A6G49E5KO54       | Long             | EC               | CORP              | KR        |     85140 | NS      | $3076956.82   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| China Resources Mixc Lifestyle Services Ltd            | CHINA RESOURCES                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    175252 | NS      | $839576.39    | 0.11%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NetEase Inc                                            | NETEASE INC                           | CUSIP: N/A<br>LEI: 5299004AF4DSJDB0PA32       | Long             | EC               | CORP              | HK        |     87586 | NS      | $1882779.42   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Gazprom PJSC                                           | GAZPROM                               | CUSIP: N/A<br>LEI: 213800FD9J2IHTA7YX78       | Long             | EC               | CORP              | RU        |    926846 | NS      | $0.11         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Meituan                                                | MEITUAN-W                             | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | HK        |    498646 | NS      | $8256300.15   | 1.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Proya Cosmetics Co Ltd                                 | PROYA COSMETIC-A                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    103114 | NS      | $1354882.11   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bradesco SA                                      | BRADESCO-ADR                          | CUSIP: N/A<br>LEI: 549300CTUU1RFXHQJE44       | Long             | EC               | CORP              | US        |    657374 | NS      | $1617140.04   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American PLC                                     | ANGLO AMER PLC                        | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |     98648 | NS      | $2692930.82   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd                          | TATA CONSULTANCY                      | CUSIP: Y85279100<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |    101652 | NS      | $4149421.98   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Macrotech Developers Ltd                               | MACROTECH DEVELO                      | CUSIP: N/A<br>LEI: 254900B5QCN52ETNU557       | Long             | EC               | CORP              | IN        |     17547 | NS      | $276084.93    | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| KB Financial Group Inc                                 | KB FINANCIAL GRO                      | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               | CORP              | KR        |     68370 | NS      | $4320894.78   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Haidilao International Holding Ltd                     | HAIDILAO INTERNA                      | CUSIP: N/A<br>LEI: 3003009Q8GV4VNKZWI24       | Long             | EC               | CORP              | HK        |   1262000 | NS      | $2841462.42   | 0.37%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Fortis Healthcare Ltd                                  | FORTIS HEALTHCAR                      | CUSIP: N/A<br>LEI: 3358001Q5ZJC4M83WH02       | Long             | EC               | CORP              | IN        |     47798 | NS      | $387605.40    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Sberbank of Russia PJSC                                | SBERBANK-SP ADR                       | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | GB        |    476234 | NS      | $4.77         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Oil & Natural Gas Corp Ltd                             | OIL & NATURAL GA                      | CUSIP: N/A<br>LEI: 335800FPDZ9MRSNO7N41       | Long             | EC               | CORP              | IN        |    194846 | NS      | $563802.54    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | SABESP                                | CUSIP: N/A<br>LEI: 254900UOXRZRS2TNWP19       | Long             | EC               | CORP              | BR        |    153230 | NS      | $3075049.06   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                             | SAMSUNG ELE-PREF                      | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EP               | CORP              | KR        |    115612 | NS      | $3816426.70   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ENN Energy Holdings Ltd                                | ENN ENERGY                            | CUSIP: N/A<br>LEI: 549300V7BXPWT6WIPR03       | Long             | EC               | CORP              | HK        |    306743 | NS      | $2421544.91   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Delhivery Ltd                                          | DELHIVERY LTD                         | CUSIP: N/A<br>LEI: 335800CUQ1SBCH9TTH82       | Long             | EC               | CORP              | IN        |    434727 | NS      | $1571091.99   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Li Ning Co Ltd                                         | LI NING CO LTD                        | CUSIP: N/A<br>LEI: 529900T77L2FV3FZ3U81       | Long             | EC               | CORP              | HK        |    452000 | NS      | $852172.81    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Sberbank of Russia PJSC                                | SBERBANK                              | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | RU        |   1473153 | NS      | $0.18         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Yadea Group Holdings Ltd                               | YADEA GROUP HOLD                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    197401 | NS      | $356280.32    | 0.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Kuaishou Technology                                    | KUAISHOU-W                            | CUSIP: N/A<br>LEI: 300300FCDZBE6UP9ED24       | Long             | EC               | CORP              | HK        |    197100 | NS      | $1300917.23   | 0.17%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GF Securities Co Ltd                                   | GF SECURITIES-H                       | CUSIP: N/A<br>LEI: 3003007E0Y3ZJ5HNA936       | Long             | EC               | CORP              | HK        |    930800 | NS      | $1212487.62   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander Brasil SA                              | BANCO SANTA-UNIT                      | CUSIP: N/A<br>LEI: 549300D1H731B30TSI43       | Long             | EC               | CORP              | BR        |    302391 | NS      | $1572924.47   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Ltd                                         | MAKEMYTRIP LTD                        | CUSIP: V5633W109<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | US        |      4975 | NS      | $521479.50    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| UltraTech Cement Ltd                                   | ULTRATECH CEMENT                      | CUSIP: N/A<br>LEI: 335800PC9O9B4BQHG814       | Long             | EC               | CORP              | IN        |     27871 | NS      | $3840693.15   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Antofagasta PLC                                        | ANTOFAGASTA PLC                       | CUSIP: N/A<br>LEI: 213800MY6QVH4FVLD628       | Long             | EC               | CORP              | GB        |     22747 | NS      | $499194.94    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Motor India Ltd                                | HYUNDAI MOTOR IN                      | CUSIP: N/A<br>LEI: 335800HWX9HKN9N12M74       | Long             | EC               | CORP              | IN        |     40650 | NS      | $820433.39    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| GMK Norilskiy Nickel PAO                               | MMC NORILSK ADR                       | CUSIP: N/A<br>LEI: 253400JPTEEW143W3E47       | Long             | EC               | CORP              | GB        |    200203 | NS      | $2.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Axis Bank Ltd                                          | AXIS BANK LTD                         | CUSIP: Y0487S137<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |    643598 | NS      | $9027819.56   | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| China Railway Group Ltd                                | CHINA RAIL GR-H                       | CUSIP: N/A<br>LEI: 529900TFRLG8UDJ7QA89       | Long             | EC               | CORP              | HK        |   1111246 | NS      | $478131.23    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| PB Fintech Ltd                                         | PB FINTECH LTD                        | CUSIP: N/A<br>LEI: 98450083AC6B01HF1F87       | Long             | EC               | CORP              | IN        |     91787 | NS      | $1763631.66   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Beijing Oriental Yuhong Waterproof Technology Co Ltd   | BEIJING ORIENT-A                      | CUSIP: N/A<br>LEI: 300300XMIXB7STDZWT60       | Long             | EC               | CORP              | CN        |   2488200 | NS      | $3817446.54   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Chroma ATE Inc                                         | CHROMA ATE                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    149696 | NS      | $1368407.07   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Dr Agarwal's Health Care Ltd                           | DR AGARWAL'S HEA                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IN        |     36125 | NS      | $156030.15    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashok Leyland Ltd                                      | ASHOK LEYLAND                         | CUSIP: N/A<br>LEI: 3358001BZKWERVWYCK35       | Long             | EC               | CORP              | IN        |    283282 | NS      | $756275.97    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions Corp                    | COGNIZANT TECH-A                      | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     65080 | NS      | $4787935.60   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                                 | PETROBR-SP P ADR                      | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | US        |    168831 | NS      | $1782855.36   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Mandiri Persero Tbk PT                            | BANK MANDIRI                          | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | EC               | CORP              | ID        |   1267100 | NS      | $374184.00    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Infosys Ltd                                            | INFOSYS LTD                           | CUSIP: Y4082C133<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |     53630 | NS      | $948067.54    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Petroleo Brasileiro SA                                 | PETROBRAS-PREF                        | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EP               | CORP              | BR        |    727900 | NS      | $3846545.20   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MOL Hungarian Oil & Gas PLC                            | MOL                                   | CUSIP: N/A<br>LEI: 213800R83KX5FQFGXS67       | Long             | EC               | CORP              | HU        |    367263 | NS      | $3109873.82   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| BDO Unibank Inc                                        | BDO UNIBANK INC                       | CUSIP: N/A<br>LEI: 3FGIIBS1PEI1FYQBGN97       | Long             | EC               | CORP              | PH        |    845013 | NS      | $2425236.90   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Mobile World Investment Corp                           | MOBILE WORLD INV                      | CUSIP: N/A<br>LEI: 254900ZRFNB8CRAHHO95       | Long             | EC               | CORP              | VN        |    810000 | NS      | $1905993.24   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV                           | WALMART DE MEXIC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |   1075875 | NS      | $3409685.18   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix Inc                                           | SK HYNIX INC                          | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |     47159 | NS      | $5884173.32   | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance Group Co of China Ltd                | PING AN INSURA-A                      | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | CN        |    117700 | NS      | $822433.32    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| ZTO Express Cayman Inc                                 | ZTO EXPRESS CAYM                      | CUSIP: N/A<br>LEI: 549300SCJPK3YZJTJR78       | Long             | EC               | CORP              | HK        |     26000 | NS      | $484220.85    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** VANGUARD TRUSTEES' EQUITY FUND

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer