# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0001752724-23-067519
**Filing Date:** 2023-3
**Character Count:** 55044
**Document Hash:** df814d699e40972667e2ae7fdead24af
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-067519.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-067519

**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:** 23763621

**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 Value Factor ETF (Series ID: S000059463)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000194896 | Fidelity International Value Factor ETF | FIVA            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity**<sup>®</sup> **International Value Factor ETF**

**January 31, 2023**

IVE-NPRT1-0423

1.9885310.105 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.5%** | &nbsp;&nbsp;**Common Stocks - 99.5%** | &nbsp;&nbsp;**Common Stocks - 99.5%** |
|  | Shares | Value ($)<br>|
| COMMUNICATION SERVICES - 4.1%  |  |  |
| Diversified Telecommunication Services - 2.6% |  |  |
| Deutsche Telekom AG  | 24701 | 548602 |
| Nippon Telegraph & Telephone Corp.  | 10400 | 311252 |
| Singapore Telecommunications Ltd.  | 125900 | 240430 |
|  |  | 1100284 |
| Wireless Telecommunication Services - 1.5% |  |  |
| KDDI Corp.  | 10800 | 337093 |
| Vodafone Group PLC  | 286024 | 327898 |
|  |  | 664991 |
| TOTAL COMMUNICATION SERVICES |  | 1765275 |
| CONSUMER DISCRETIONARY - 10.5%  |  |  |
| Automobiles - 6.1% |  |  |
| Bayerische Motoren Werke AG (BMW)  | 4072 | 412300 |
| Honda Motor Co. Ltd.  | 11200 | 276200 |
| Mercedes-Benz Group AG (Germany)  | 6060 | 448527 |
| Renault SA (a) | 14604 | 590652 |
| Stellantis NV (Italy)  | 22198 | 346579 |
| Toyota Motor Corp.  | 41300 | 602295 |
|  |  | 2676553 |
| Hotels, Restaurants & Leisure - 1.7% |  |  |
| Aristocrat Leisure Ltd.  | 8646 | 206898 |
| La Francaise des Jeux SAEM (b) | 12030 | 512808 |
|  |  | 719706 |
| Household Durables - 1.6% |  |  |
| Sony Group Corp.  | 5000 | 445231 |
| Sumitomo Forestry Co. Ltd.  | 12600 | 234085 |
|  |  | 679316 |
| Multiline Retail - 0.3% |  |  |
| Canadian Tire Ltd. Class A (non-vtg.)  | 1182 | 140137 |
| Specialty Retail - 0.8% |  |  |
| Kingfisher PLC  | 104380 | 358521 |
| TOTAL CONSUMER DISCRETIONARY |  | 4574233 |
| CONSUMER STAPLES - 9.2%  |  |  |
| Beverages - 0.5% |  |  |
| Heineken Holding NV  | 2556 | 210000 |
| Food & Staples Retailing - 2.6% |  |  |
| Alimentation Couche-Tard, Inc. Class A (multi-vtg.)  | 8037 | 365967 |
| Carrefour SA  | 11968 | 227072 |
| Koninklijke Ahold Delhaize NV  | 8849 | 263182 |
| Marks & Spencer Group PLC (a) | 162427 | 291547 |
|  |  | 1147768 |
| Food Products - 2.2% |  |  |
| Nestle SA (Reg. S)  | 7877 | 955781 |
| Household Products - 0.5% |  |  |
| Essity AB (B Shares)  | 8288 | 215872 |
| Tobacco - 3.4% |  |  |
| British American Tobacco PLC (United Kingdom)  | 12057 | 459551 |
| Imperial Brands PLC  | 14160 | 354052 |
| Japan Tobacco, Inc.  | 32200 | 657396 |
|  |  | 1470999 |
| TOTAL CONSUMER STAPLES |  | 4000420 |
| ENERGY - 6.2%  |  |  |
| Oil, Gas & Consumable Fuels - 6.2% |  |  |
| Canadian Natural Resources Ltd.  | 8296 | 507764 |
| Eni SpA  | 19417 | 298098 |
| INPEX Corp.  | 22200 | 242408 |
| Shell PLC (London)  | 23649 | 691173 |
| Suncor Energy, Inc.  | 12615 | 436588 |
| TotalEnergies SE  | 8802 | 544695 |
|  |  | 2720726 |
| FINANCIALS - 21.6%  |  |  |
| Banks - 10.7% |  |  |
| ANZ Group Holdings Ltd.  | 28724 | 507831 |
| Banco Santander SA (Spain)  | 147355 | 512592 |
| Barclays PLC  | 254169 | 581507 |
| BNP Paribas SA  | 8076 | 551692 |
| Oversea-Chinese Banking Corp. Ltd.  | 29600 | 291192 |
| Societe Generale Series A  | 13409 | 397274 |
| Sumitomo Mitsui Financial Group, Inc.  | 14100 | 612812 |
| The Toronto-Dominion Bank  | 8607 | 593818 |
| UniCredit SpA  | 32255 | 626486 |
|  |  | 4675204 |
| Capital Markets - 4.8% |  |  |
| 3i Group PLC  | 30355 | 588578 |
| Deutsche Bank AG  | 35440 | 469881 |
| Macquarie Group Ltd.  | 3659 | 483021 |
| UBS Group AG  | 24810 | 524959 |
|  |  | 2066439 |
| Insurance - 6.1% |  |  |
| AIA Group Ltd.  | 46000 | 519650 |
| Allianz SE  | 2411 | 573968 |
| Fairfax Financial Holdings Ltd. (sub. vtg.)  | 600 | 396089 |
| Japan Post Holdings Co. Ltd.  | 49800 | 436557 |
| Manulife Financial Corp.  | 20161 | 397826 |
| Power Corp. of Canada (sub. vtg.)  | 11907 | 322047 |
|  |  | 2646137 |
| TOTAL FINANCIALS |  | 9387780 |
| HEALTH CARE - 9.8%  |  |  |
| Health Care Equipment & Supplies - 1.0% |  |  |
| Alcon, Inc. (Switzerland)  | 2128 | 159030 |
| Koninklijke Philips Electronics NV  | 16372 | 281221 |
|  |  | 440251 |
| Health Care Providers & Services - 2.3% |  |  |
| Fresenius SE & Co. KGaA  | 12776 | 368114 |
| Medipal Holdings Corp.  | 25500 | 339425 |
| Sonic Healthcare Ltd.  | 12974 | 288708 |
|  |  | 996247 |
| Pharmaceuticals - 6.5% |  |  |
| GSK PLC  | 23744 | 416077 |
| Hikma Pharmaceuticals PLC  | 15050 | 316552 |
| Novartis AG  | 6408 | 575133 |
| Otsuka Holdings Co. Ltd.  | 11600 | 370893 |
| Roche Holding AG (participation certificate)  | 1915 | 594562 |
| Sanofi SA  | 5607 | 546044 |
|  |  | 2819261 |
| TOTAL HEALTH CARE |  | 4255759 |
| INDUSTRIALS - 15.6%  |  |  |
| Air Freight & Logistics - 1.1% |  |  |
| Deutsche Post AG  | 11407 | 487862 |
| Building Products - 1.2% |  |  |
| Compagnie de St. Gobain  | 9414 | 537275 |
| Construction & Engineering - 1.0% |  |  |
| Bouygues SA  | 13166 | 432400 |
| Industrial Conglomerates - 0.6% |  |  |
| Jardine Matheson Holdings Ltd.  | 5100 | 270402 |
| Machinery - 1.2% |  |  |
| Volvo AB (B Shares)  | 26748 | 528456 |
| Marine - 1.3% |  |  |
| A.P. Moller - Maersk A/S Series B  | 115 | 248726 |
| Nippon Yusen KK  | 12900 | 305029 |
|  |  | 553755 |
| Professional Services - 2.6% |  |  |
| Adecco SA (Reg.)  | 9627 | 354798 |
| Randstad NV  | 6024 | 383906 |
| RELX PLC (London Stock Exchange)  | 12525 | 370377 |
|  |  | 1109081 |
| Road & Rail - 1.4% |  |  |
| Canadian National Railway Co.  | 2422 | 287478 |
| Canadian Pacific Railway Ltd.  | 3815 | 300260 |
|  |  | 587738 |
| Trading Companies & Distributors - 5.2% |  |  |
| Ferguson PLC  | 2394 | 334808 |
| Itochu Corp.  | 14800 | 476054 |
| Marubeni Corp.  | 38500 | 469685 |
| Mitsubishi Corp.  | 13800 | 460124 |
| Mitsui & Co. Ltd.  | 18400 | 540490 |
|  |  | 2281161 |
| TOTAL INDUSTRIALS |  | 6788130 |
| INFORMATION TECHNOLOGY - 7.5%  |  |  |
| Communications Equipment - 1.2% |  |  |
| Ericsson (B Shares)  | 41567 | 239720 |
| Nokia Corp.  | 63490 | 300050 |
|  |  | 539770 |
| IT Services - 3.8% |  |  |
| Capgemini SA  | 1747 | 329946 |
| CGI, Inc. Class A (sub. vtg.) (a) | 4156 | 355192 |
| Fujitsu Ltd.  | 2600 | 370072 |
| NEC Corp.  | 8500 | 305567 |
| TietoEVRY Oyj  | 10172 | 308662 |
|  |  | 1669439 |
| Semiconductors & Semiconductor Equipment - 1.0% |  |  |
| Tokyo Electron Ltd.  | 1200 | 416810 |
| Software - 1.5% |  |  |
| SAP SE  | 5341 | 628668 |
| TOTAL INFORMATION TECHNOLOGY |  | 3254687 |
| MATERIALS - 9.3%  |  |  |
| Metals & Mining - 9.3% |  |  |
| Anglo American PLC (United Kingdom)  | 11333 | 483648 |
| ArcelorMittal SA (Netherlands)  | 13212 | 406935 |
| BHP Group Ltd.  | 16577 | 576807 |
| Fortescue Metals Group Ltd.  | 14647 | 229539 |
| Glencore PLC  | 76526 | 509871 |
| Nippon Steel & Sumitomo Metal Corp.  | 28900 | 598912 |
| Rio Tinto PLC  | 7332 | 570380 |
| Teck Resources Ltd. Class B (sub. vtg.)  | 15912 | 686398 |
|  |  | 4062490 |
| REAL ESTATE - 2.2%  |  |  |
| Equity Real Estate Investment Trusts (REITs) - 0.2% |  |  |
| Segro PLC  | 9325 | 95307 |
| Real Estate Management & Development - 2.0% |  |  |
| Daiwa House Industry Co. Ltd.  | 14100 | 337307 |
| Hongkong Land Holdings Ltd.  | 25700 | 125159 |
| Sun Hung Kai Properties Ltd.  | 16000 | 226777 |
| Vonovia SE  | 6627 | 186193 |
|  |  | 875436 |
| TOTAL REAL ESTATE |  | 970743 |
| UTILITIES - 3.5%  |  |  |
| Electric Utilities - 2.3% |  |  |
| Enel SpA  | 97476 | 570712 |
| Fortis, Inc.  | 4280 | 175357 |
| Tokyo Electric Power Co., Inc. (a) | 69900 | 260691 |
|  |  | 1006760 |
| Multi-Utilities - 1.2% |  |  |
| Engie SA  | 35610 | 503539 |
| TOTAL UTILITIES |  | 1510299 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $41,772,430) |  | <br> **43290542** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.5%**<br> (Cost $41,772,430)<br>| <br>**43290542** |
| **NET OTHER ASSETS (LIABILITIES) - 0.5%** (c)  | **213590** |
| **NET ASSETS - 100.0%** | **43504132** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &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) | 2 | Mar 2023 | 211900 | 13685 | 13685 |
| The notional amount of futures purchased as a percentage of Net Assets is 0.5% | The notional amount of futures purchased as a percentage of Net Assets is 0.5% | The notional amount of futures purchased as a percentage of Net Assets is 0.5% | The notional amount of futures purchased as a percentage of Net Assets is 0.5% | The notional amount of futures purchased as a percentage of Net Assets is 0.5% | The notional amount of futures purchased as a percentage of Net Assets is 0.5% |

---

**Legend**

(a) Non-income producing

(b) 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 $512,808 or 1.2% of net assets.

(c) Includes $8,439 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% | 34107 | 229043 | 263150 | 106 | - | - | - | 0.0% |
| Total | 34107 | 229043 | 263150 | 106 | - | - | - |  |

---

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.

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 Value Factor ETF

- **b. EDGAR series identifier (if any):** S000059463

- **c. LEI of Series:** 549300DPXN0IDQD0V949

**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:** $43517895.29

**Total Liabilities:** $13775.60

**Net Assets:** $43504119.69

**Cash Not Reported:** $74791.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000194896 | 11.24%               | 0.53%                | 8.52%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $147647.15               | $3985767.17                                |
| Month 2  | $-10613.15               | $153427.19                                 |
| Month 3  | $-4218.96                | $3379490.49                                |

### 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        |      2411 | NS      | $573967.87    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE                     | TOTALENERGIES SE                     | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |      8802 | NS      | $544695.30    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| HIKMA PHARMACEUTICALS PLC            | HIKMA PHARMACEUTICALS PLC            | CUSIP: N/A<br>LEI: 549300BNS685UXH4JI75       | Long             | EC               | CORP              | GB        |     15050 | NS      | $316551.82    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN TOBACCO INC                    | JAPAN TOBACCO INC                    | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |     32200 | NS      | $657395.52    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATIONAL RAILWAY CO         | CANADIAN NATL RAILWAY CO             | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |      2422 | NS      | $287478.07    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ GROUP HOLDINGS LTD               | ANZ GROUP HOLDINGS LTD               | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |     28724 | NS      | $507830.80    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO PLC         | BRITISH AMERICAN TOBACCO PLC         | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |     12057 | NS      | $459550.82    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO SANTANDER SA                   | BANCO SANTANDER SA                   | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |    147355 | NS      | $512591.78    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MACQUARIE GROUP LTD                  | MACQUARIE GROUP LTD                  | CUSIP: N/A<br>LEI: ACMHD8HWFMFUIQQ8Y590       | Long             | EC               | CORP              | AU        |      3659 | NS      | $483021.41    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| POWER CORP OF CANADA                 | POWER CORP OF CANADA SUB VTG         | CUSIP: 739239101<br>LEI: 549300BE2CB8T87IJV50 | Long             | EC               | CORP              | CA        |     11907 | NS      | $322047.16    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                               | SAP SE                               | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |      5341 | NS      | $628668.28    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NEC CORP                             | NEC CORP                             | CUSIP: N/A<br>LEI: 5493000QYMPFRTEY4K28       | Long             | EC               | CORP              | JP        |      8500 | NS      | $305567.30    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SONIC HEALTHCARE LTD                 | SONIC HEALTHCARE LTD                 | CUSIP: N/A<br>LEI: 549300NQQ5L2NONWR862       | Long             | EC               | CORP              | AU        |     12974 | NS      | $288708.44    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS                          | BNP PARIBAS                          | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |      8076 | NS      | $551692.11    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TOYOTA MOTOR CORP                    | TOYOTA MOTOR CORP                    | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |     41300 | NS      | $602294.97    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MANULIFE FINANCIAL CORP              | MANULIFE FINANCIAL CORP              | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |     20161 | NS      | $397826.01    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAULT SA                           | RENAULT SA ORD                       | CUSIP: N/A<br>LEI: 969500F7JLTX36OUI695       | Long             | EC               | CORP              | FR        |     14604 | NS      | $590651.51    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MARUBENI CORP                        | MARUBENI CORP                        | CUSIP: N/A<br>LEI: 4P4N3ORD02UGQT1T1W12       | Long             | EC               | CORP              | JP        |     38500 | NS      | $469685.49    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RANDSTAD NV                          | RANDSTAD NV                          | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |      6024 | NS      | $383905.99    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| ENI SPA                              | ENI SPA                              | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |     19417 | NS      | $298097.60    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX PLC                             | RELX PLC                             | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |     12525 | NS      | $370377.05    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CARREFOUR SA                         | CARREFOUR SA (SUPERMARCHE)           | CUSIP: N/A<br>LEI: 549300B8P6MUJ1YWTS08       | Long             | EC               | CORP              | FR        |     11968 | NS      | $227072.38    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLO AMERICAN PLC                   | ANGLO AMERICAN PLC                   | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |     11333 | NS      | $483648.04    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVARTIS AG                          | NOVARTIS AG (REG)                    | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |      6408 | NS      | $575133.26    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TORONTO DOMINION BANK            | TORONTO-DOMINION BANK                | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |      8607 | NS      | $593817.53    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUI and CO LTD                    | MITSUI and CO LTD                    | CUSIP: N/A<br>LEI: 2NRSB4GOU9DD6CNW5R48       | Long             | EC               | CORP              | JP        |     18400 | NS      | $540489.83    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| KINGFISHER PLC                       | KINGFISHER PLC                       | CUSIP: N/A<br>LEI: 213800KBMEV7I92FY281       | Long             | EC               | CORP              | GB        |    104380 | NS      | $358521.19    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCHE HOLDING AG                     | ROCHE HOLDINGS AG (GENUSSCHEINE)     | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |      1915 | NS      | $594561.90    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FERGUSON PLC                         | FERGUSON PLC                         | CUSIP: N/A<br>LEI: 213800DU1LGY3R2S2X42       | Long             | EC               | CORP              | JE        |      2394 | NS      | $334807.99    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ERICSSON                             | ERICSSON (LM) TELE CO CL B           | CUSIP: N/A<br>LEI: 549300W9JLPW15XIFM52       | Long             | EC               | CORP              | SE        |     41567 | NS      | $239719.52    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE PLC                         | GLENCORE PLC                         | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |     76526 | NS      | $509870.79    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FUJITSU LTD                          | FUJITSU LTD                          | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24       | Long             | EC               | CORP              | JP        |      2600 | NS      | $370071.90    | 0.85%             |  |  |  | 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        |     29600 | NS      | $291191.84    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPGEMINI SA                         | CAPGEMINI SA (FF40)                  | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |      1747 | NS      | $329945.57    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ENGIE SA                             | ENGIE SA                             | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |     35610 | NS      | $503538.61    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                              | GSK PLC                              | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |     23744 | NS      | $416077.45    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU CORPORATION                   | ITOCHU CORP                          | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |     14800 | NS      | $476053.67    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MARKS and SPENCER GROUP PLC          | MARKS and SPENCER GROUP PLC          | CUSIP: N/A<br>LEI: 213800EJP14A79ZG1X44       | Long             | EC               | CORP              | GB        |    162427 | NS      | $291547.34    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| BOUYGUES SA                          | BOUYGUES ORD                         | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |     13166 | NS      | $432399.77    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTIS INC                           | FORTIS INC                           | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |      4280 | NS      | $175356.99    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO TINTO PLC                        | RIO TINTO PLC                        | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |      7332 | NS      | $570379.81    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| TOKYO ELECTRON LTD                   | TOKYO ELECTRON LTD                   | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |      1200 | NS      | $416809.57    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| CGI INC                              | CGI INC CL A SUB VTG                 | CUSIP: 12532H104<br>LEI: 549300WSRCZY73ZG3090 | Long             | EC               | CORP              | CA        |      4156 | NS      | $355191.85    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON YUSEN KK                      | NIPPON YUSEN KABUSHIKI KAISHA        | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |     12900 | NS      | $305029.03    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ADECCO GROUP AG                      | ADECCO GROUP AG                      | CUSIP: N/A<br>LEI: NI14Y5UMU60O7JE9P611       | Long             | EC               | CORP              | CH        |      9627 | NS      | $354797.52    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI CORP                      | MITSUBISHI CORP                      | CUSIP: N/A<br>LEI: KVIPTY4PULAPGC1VVD26       | Long             | EC               | CORP              | JP        |     13800 | NS      | $460123.80    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO MITSUI FINANCIAL GROUP INC  | SUMITOMO MITSUI FINL GROUP INC       | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               | CORP              | JP        |     14100 | NS      | $612812.49    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON STEEL CORP                    | NIPPON STEEL CORP                    | CUSIP: N/A<br>LEI: 35380065QWQ4U2V3PA33       | Long             | EC               | CORP              | JP        |     28900 | NS      | $598911.92    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCELORMITTAL SA LUXEMBOURG          | ARCELORMITTAL SA                     | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | LU        |     13212 | NS      | $406934.59    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDIPAL HLDGS CORP                   | MEDIPAL HOLDINGS CORP                | CUSIP: N/A<br>LEI: 353800PJDODZEA4NP730       | Long             | EC               | CORP              | JP        |     25500 | NS      | $339424.81    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SEGRO PLC                            | SEGRO PLC                            | CUSIP: N/A<br>LEI: 213800XC35KGM9NFC641       | Long             | EC               | CORP              | GB        |      9325 | NS      | $95307.02     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| KONINKLIJKE PHILIPS NV               | KONINKLIJKE PHILIPS NV               | CUSIP: N/A<br>LEI: H1FJE8H61JGM1JSGM897       | Long             | EC               | CORP              | NL        |     16372 | NS      | $281221.30    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTOCRAT LEISURE LTD               | ARISTOCRAT LEISURE LTD               | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |      8646 | NS      | $206898.04    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                            | SHELL PLC                            | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |     23649 | NS      | $691173.10    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| TIETOEVRY OYJ                        | TIETOEVRY OYJ                        | CUSIP: N/A<br>LEI: 549300EW2KM4KROKQV31       | Long             | EC               | CORP              | FI        |     10172 | NS      | $308661.58    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI CORP                            | KDDI CORP                            | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |     10800 | NS      | $337092.54    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| TECK RESOURCES LTD                   | TECK RESOURCES LTD SUB VTG CLB       | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |     15912 | NS      | $686397.66    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| OTSUKA HOLDINGS CO LTD               | OTSUKA HOLDINGS CO LTD               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     11600 | NS      | $370893.15    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| INPEX CORPORATION                    | INPEX CORP                           | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               | CORP              | JP        |     22200 | NS      | $242408.40    | 0.56%             |  |  |  | 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        |     49800 | NS      | $436556.58    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BAYERISCHE MOTOREN WERKE (BMW) AG    | BMW AG                               | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |      4072 | NS      | $412299.94    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| DAIWA HOUSE INDUSTRY CO LTD          | DAIWA HOUSE INDUSTRY CO LTD          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     14100 | NS      | $337307.09    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE GENERALE                     | SOCIETE GENERALE SA CL A             | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |     13409 | NS      | $397274.40    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP GROUP LTD                        | BHP GROUP LIMITED                    | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |     16577 | NS      | $576806.94    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE TELEKOM AG                  | DEUTSCHE TELEKOM AG (REGD)           | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |     24701 | NS      | $548602.36    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| STELLANTIS NV                        | STELLANTIS NV                        | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |     22198 | NS      | $346578.59    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE DE ST GOBAIN               | ST GOBAIN CIE DE                     | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |      9414 | NS      | $537275.13    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS GROUP AG                         | UBS GROUP AG                         | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |     24810 | NS      | $524959.35    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY LTD         | CANADIAN PAC RAILWAY LTD             | CUSIP: 13645T100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      3815 | NS      | $300259.53    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| UNICREDIT SPA                        | UNICREDIT SPA                        | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |     32255 | NS      | $626486.23    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL SPA                             | ENEL (ENTE NAZ ENERG ELET) SPA       | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |     97476 | NS      | $570711.80    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO FORESTRY CO LTD             | SUMITOMO FORESTRY CO LTD             | CUSIP: N/A<br>LEI: 549300FIIRGO6D5FWR19       | Long             | EC               | CORP              | JP        |     12600 | NS      | $234085.12    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| TOKYO ELECTRIC POWER CO HOLDINGS INC | TOKYO ELECTRIC POWER CO HOLDINGS INC | CUSIP: N/A<br>LEI: 5299004EMJ3R4RVR5Y75       | Long             | EC               | CORP              | JP        |     69900 | NS      | $260690.53    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA GROUP LTD                        | AIA GROUP LTD                        | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |     46000 | NS      | $519649.68    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SONY GROUP CORP                      | SONY GROUP CORP                      | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |      5000 | NS      | $445230.50    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE TELECOM LTD                | SINGAPORE TELECOM LTD (SING)         | CUSIP: N/A<br>LEI: 2549003XJKIQO8YDYD89       | Long             | EC               | CORP              | SG        |    125900 | NS      | $240429.87    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                  | IMPERIAL BRANDS PLC                  | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |     14160 | NS      | $354051.56    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE POST AG                     | DEUTSCHE POST AG                     | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |     11407 | NS      | $487861.98    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SUN HUNG KAI PROPERTIES LTD          | SUN HUNG KAI PROPERTIES LTD          | CUSIP: N/A<br>LEI: 529900LUMD393RD3S874       | Long             | EC               | CORP              | HK        |     16000 | NS      | $226776.64    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| JARDINE MATHESON HOLDINGS LTD        | JARDINE MATHESON HLD                 | CUSIP: N/A<br>LEI: 2138009KENVUNWOLPK41       | Long             | EC               | CORP              | BM        |      5100 | NS      | $270402.00    | 0.62%             |  |  |  | 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        |       115 | NS      | $248726.24    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LTD       | FAIRFAX FINL HLDGS LTD SUB VTG       | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |       600 | NS      | $396089.48    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| VODAFONE GRP PLC                     | VODAFONE GROUP PLC                   | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |    286024 | NS      | $327898.01    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| HONDA MOTOR CO LTD                   | HONDA MOTOR CO LTD                   | CUSIP: N/A<br>LEI: 549300P7ZYCQJ36CCS16       | Long             | EC               | CORP              | JP        |     11200 | NS      | $276199.78    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| HEINEKEN HOLDING NV                  | HEINEKEN HOLDING NV                  | CUSIP: N/A<br>LEI: 724500M1WJLFM9TYBS04       | Long             | EC               | CORP              | NL        |      2556 | NS      | $210000.15    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| VONOVIA SE                           | VONOVIA SE                           | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | EC               | CORP              | DE        |      6627 | NS      | $186192.94    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| 3I GROUP PLC                         | 3I GROUP PLC                         | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |     30355 | NS      | $588578.14    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| VOLVO AB                             | VOLVO AB SER B                       | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |     26748 | NS      | $528455.54    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LTD       | CANADIAN NATL RESOURCES LTD          | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |      8296 | NS      | $507763.57    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTESCUE METALS GROUP LTD           | FORTESCUE METALS GROUP LTD           | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |     14647 | NS      | $229539.23    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIMENTATION COUCHE-TARD INC         | ALIMENTATION COUCHE-TARD INC         | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |      8037 | NS      | $365967.04    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| KONINKLIJKE AHOLD DELHAIZE NV        | KONINKLIJKE AHOLD DELHAIZE NV        | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |      8849 | NS      | $263182.36    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| LA FRANCAISE DES JEUX                | LA FRANCAISE DES JEUX SAEM           | CUSIP: N/A<br>LEI: 969500R4CLSQFTYYI535       | Long             | EC               | CORP              | FR        |     12030 | NS      | $512808.37    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC (UNGTD)                 | BARCLAYS PLC ORD                     | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |    254169 | NS      | $581507.22    | 1.34%             |  |  |  | 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        |         2 | NC      | $13684.61     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ALCON INC                            | ALCON INC                            | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |      2128 | NS      | $159029.64    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCEDES-BENZ GROUP AG               | MERCEDES-BENZ GROUP AG               | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |      6060 | NS      | $448526.70    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSITY AB                            | ESSITY AB B                          | CUSIP: N/A<br>LEI: 549300G8E6YUVJ1DA153       | Long             | EC               | CORP              | SE        |      8288 | NS      | $215872.09    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NESTLE SA                            | NESTLE SA (REG)                      | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |      7877 | NS      | $955785.53    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON TELEGRAPH and TELEPHONE CORP  | NIPPON TELEGRAPH and TELEPHONE       | CUSIP: N/A<br>LEI: 353800VHQU5VIXVUA841       | Long             | EC               | CORP              | JP        |     10400 | NS      | $311252.26    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI                               | SANOFI                               | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |      5607 | NS      | $546043.88    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NOKIA CORP                           | NOKIA OYJ                            | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               | CORP              | FI        |     63490 | NS      | $300050.35    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| HONGKONG LAND HOLDINGS LTD           | HONGKONG LAND HLDGS LTD              | CUSIP: N/A<br>LEI: 213800XCHYNRPAYGXW28       | Long             | EC               | CORP              | BM        |     25700 | NS      | $125159.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN TIRE LTD                    | CANADIAN TIRE LTD A PHYS DELIVERY    | CUSIP: 136681202<br>LEI: 549300RLHDA7VQYMUB14 | Long             | EC               | CORP              | CA        |      1182 | NS      | $140137.45    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNCOR ENERGY INC                    | SUNCOR ENERGY INC                    | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     12615 | NS      | $436587.63    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE BANK AG                     | DEUTSCHE BANK AG                     | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |     35440 | NS      | $469881.18    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FRESENIUS SE and CO KGAA             | FRESENIUS SE and CO KGAA             | CUSIP: N/A<br>LEI: XDFJ0CYCOO1FXRFTQS51       | Long             | EC               | CORP              | DE        |     12776 | NS      | $368113.69    | 0.85%             |  |  |  | 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