# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0000035402-25-000746
**Filing Date:** 2025-9
**Character Count:** 56374
**Document Hash:** cd29122024861bc821b711a0bb5f6657
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-000746.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000035402-25-000746

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908

**ORGANIZATION NAME:**
- **EIN:** 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:** 251349277

**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 Fundamental Developed International ETF (Series ID: S000087781)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000253743 | Fidelity Fundamental Developed International ETF | FFDI            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Fundamental Developed International ETF**

**July 31, 2025**

FDI-NPRT3-0925

1.9916390.100 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.9%** | &nbsp;&nbsp;**Common Stocks - 98.9%** | &nbsp;&nbsp;**Common Stocks - 98.9%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.0%  |  |  |
| Consumer Discretionary - 1.0% |  |  |
| Hotels, Restaurants & Leisure - 1.0% |  |  |
| Aristocrat Leisure Ltd  | 3051 | 137329 |
| BELGIUM - 2.0%  |  |  |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| KBC Group NV  | 1776 | 185977 |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| UCB SA  | 465 | 101063 |
| TOTAL BELGIUM |  | 287040 |
| CANADA - 4.1%  |  |  |
| Energy - 1.8% |  |  |
| Oil, Gas & Consumable Fuels - 1.8% |  |  |
| Cameco Corp  | 924 | 69373 |
| Canadian Natural Resources Ltd  | 2724 | 86226 |
| Imperial Oil Ltd  | 1178 | 98221 |
|  |  | 253820 |
| Industrials - 0.0% |  |  |
| Ground Transportation - 0.0% |  |  |
| Canadian Pacific Kansas City Ltd  | 117 | 8604 |
| Information Technology - 1.9% |  |  |
| IT Services - 0.3% |  |  |
| Shopify Inc Class A (United States) (b) | 338 | 41307 |
| Software - 1.6% |  |  |
| Constellation Software Inc/Canada  | 68 | 234598 |
| TOTAL INFORMATION TECHNOLOGY |  | 275905 |
| Materials - 0.4% |  |  |
| Metals & Mining - 0.4% |  |  |
| Franco-Nevada Corp  | 335 | 53364 |
| TOTAL CANADA |  | 591693 |
| DENMARK - 1.3%  |  |  |
| Industrials - 1.3% |  |  |
| Air Freight & Logistics - 1.3% |  |  |
| DSV A/S  | 853 | 190990 |
| FRANCE - 10.9%  |  |  |
| Consumer Discretionary - 1.7% |  |  |
| Hotels, Restaurants & Leisure - 0.6% |  |  |
| Accor SA  | 1759 | 89649 |
| Textiles, Apparel & Luxury Goods - 1.1% |  |  |
| Hermes International SCA  | 62 | 152193 |
| TOTAL CONSUMER DISCRETIONARY |  | 241842 |
| Consumer Staples - 1.0% |  |  |
| Food Products - 1.0% |  |  |
| Danone SA  | 1818 | 149130 |
| Financials - 1.2% |  |  |
| Insurance - 1.2% |  |  |
| AXA SA  | 3627 | 176658 |
| Health Care - 1.2% |  |  |
| Health Care Equipment & Supplies - 1.2% |  |  |
| EssilorLuxottica SA  | 589 | 175167 |
| Industrials - 2.9% |  |  |
| Aerospace & Defense - 2.9% |  |  |
| Safran SA  | 1108 | 366058 |
| Thales SA  | 182 | 48975 |
|  |  | 415033 |
| Information Technology - 0.5% |  |  |
| IT Services - 0.1% |  |  |
| Alten SA  | 125 | 10221 |
| Software - 0.4% |  |  |
| Dassault Systemes SE  | 1855 | 61158 |
| TOTAL INFORMATION TECHNOLOGY |  | 71379 |
| Materials - 2.4% |  |  |
| Chemicals - 2.4% |  |  |
| Air Liquide SA  | 1758 | 346676 |
| TOTAL FRANCE |  | 1575885 |
| GERMANY - 13.7%  |  |  |
| Communication Services - 1.3% |  |  |
| Diversified Telecommunication Services - 1.3% |  |  |
| Deutsche Telekom AG  | 5210 | 187169 |
| Financials - 5.9% |  |  |
| Banks - 0.2% |  |  |
| Commerzbank AG  | 822 | 30056 |
| Capital Markets - 2.1% |  |  |
| Deutsche Boerse AG  | 1031 | 298968 |
| Insurance - 3.6% |  |  |
| Allianz SE  | 274 | 108566 |
| Hannover Rueck SE  | 646 | 196394 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 332 | 218082 |
|  |  | 523042 |
| TOTAL FINANCIALS |  | 852066 |
| Health Care - 0.9% |  |  |
| Health Care Providers & Services - 0.9% |  |  |
| Fresenius SE & Co KGaA  | 2628 | 125901 |
| Industrials - 1.0% |  |  |
| Aerospace & Defense - 1.0% |  |  |
| Rheinmetall AG  | 70 | 138639 |
| Information Technology - 3.4% |  |  |
| Software - 3.4% |  |  |
| SAP SE  | 1714 | 490569 |
| Materials - 1.1% |  |  |
| Construction Materials - 1.1% |  |  |
| Heidelberg Materials AG  | 671 | 155063 |
| Real Estate - 0.1% |  |  |
| Real Estate Management & Development - 0.1% |  |  |
| Vonovia SE  | 1107 | 34463 |
| TOTAL GERMANY |  | 1983870 |
| IRELAND - 1.0%  |  |  |
| Industrials - 1.0% |  |  |
| Building Products - 1.0% |  |  |
| Kingspan Group PLC  | 1711 | 141856 |
| ITALY - 4.4%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Automobiles - 0.6% |  |  |
| Ferrari NV (Italy)  | 192 | 84423 |
| Financials - 3.2% |  |  |
| Banks - 3.2% |  |  |
| FinecoBank Banca Fineco SpA  | 3216 | 68704 |
| UniCredit SpA  | 5305 | 391275 |
|  |  | 459979 |
| Health Care - 0.6% |  |  |
| Pharmaceuticals - 0.6% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 1383 | 79545 |
| Industrials - 0.0% |  |  |
| Electrical Equipment - 0.0% |  |  |
| Prysmian SpA  | 156 | 12530 |
| TOTAL ITALY |  | 636477 |
| JAPAN - 17.8%  |  |  |
| Communication Services - 1.7% |  |  |
| Entertainment - 1.7% |  |  |
| Capcom Co Ltd  | 2475 | 63615 |
| Nintendo Co Ltd  | 2090 | 175876 |
|  |  | 239491 |
| Consumer Discretionary - 1.8% |  |  |
| Household Durables - 1.0% |  |  |
| Sony Group Corp  | 5615 | 137098 |
| Specialty Retail - 0.8% |  |  |
| Fast Retailing Co Ltd  | 377 | 115950 |
| TOTAL CONSUMER DISCRETIONARY |  | 253048 |
| Consumer Staples - 0.7% |  |  |
| Food Products - 0.7% |  |  |
| Ajinomoto Co Inc  | 4416 | 117281 |
| Financials - 3.0% |  |  |
| Banks - 1.3% |  |  |
| Mitsubishi UFJ Financial Group Inc  | 2382 | 33337 |
| Sumitomo Mitsui Financial Group Inc  | 5806 | 148423 |
|  |  | 181760 |
| Financial Services - 0.2% |  |  |
| ORIX Corp  | 1432 | 32286 |
| Insurance - 1.5% |  |  |
| Tokio Marine Holdings Inc  | 5446 | 221163 |
| TOTAL FINANCIALS |  | 435209 |
| Health Care - 1.1% |  |  |
| Health Care Equipment & Supplies - 1.1% |  |  |
| Hoya Corp  | 1265 | 160893 |
| Industrials - 6.2% |  |  |
| Industrial Conglomerates - 2.9% |  |  |
| Hitachi Ltd  | 13123 | 408745 |
| Machinery - 1.6% |  |  |
| Mitsubishi Heavy Industries Ltd  | 9322 | 224396 |
| Professional Services - 0.5% |  |  |
| BayCurrent Inc  | 849 | 48846 |
| Recruit Holdings Co Ltd  | 460 | 27612 |
|  |  | 76458 |
| Trading Companies & Distributors - 1.2% |  |  |
| ITOCHU Corp  | 3416 | 179702 |
| TOTAL INDUSTRIALS |  | 889301 |
| Information Technology - 2.3% |  |  |
| IT Services - 0.3% |  |  |
| Fujitsu Ltd  | 2284 | 50057 |
| Semiconductors & Semiconductor Equipment - 1.0% |  |  |
| Advantest Corp  | 1766 | 121208 |
| Renesas Electronics Corp  | 2212 | 27371 |
|  |  | 148579 |
| Technology Hardware, Storage & Peripherals - 1.0% |  |  |
| FUJIFILM Holdings Corp  | 6594 | 138002 |
| TOTAL INFORMATION TECHNOLOGY |  | 336638 |
| Materials - 1.0% |  |  |
| Chemicals - 1.0% |  |  |
| Shin-Etsu Chemical Co Ltd  | 4850 | 141351 |
| TOTAL JAPAN |  | 2573212 |
| NETHERLANDS - 4.7%  |  |  |
| Communication Services - 0.4% |  |  |
| Entertainment - 0.4% |  |  |
| Universal Music Group NV  | 2095 | 60679 |
| Industrials - 2.4% |  |  |
| Professional Services - 1.8% |  |  |
| Wolters Kluwer NV  | 1674 | 261148 |
| Trading Companies & Distributors - 0.6% |  |  |
| IMCD NV  | 742 | 81561 |
| TOTAL INDUSTRIALS |  | 342709 |
| Information Technology - 1.9% |  |  |
| Semiconductors & Semiconductor Equipment - 1.9% |  |  |
| ASM International NV  | 162 | 79034 |
| ASML Holding NV  | 232 | 162323 |
| BE Semiconductor Industries NV  | 239 | 32484 |
|  |  | 273841 |
| TOTAL NETHERLANDS |  | 677229 |
| SINGAPORE - 0.7%  |  |  |
| Communication Services - 0.2% |  |  |
| Entertainment - 0.2% |  |  |
| Sea Ltd Class A ADR (b) | 303 | 47465 |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| United Overseas Bank Ltd  | 2344 | 65334 |
| TOTAL SINGAPORE |  | 112799 |
| SPAIN - 4.1%  |  |  |
| Financials - 3.7% |  |  |
| Banks - 3.7% |  |  |
| Banco Santander SA  | 29114 | 250383 |
| CaixaBank SA  | 30532 | 287456 |
|  |  | 537839 |
| Utilities - 0.4% |  |  |
| Electric Utilities - 0.4% |  |  |
| Iberdrola SA  | 2898 | 50782 |
| TOTAL SPAIN |  | 588621 |
| SWEDEN - 3.7%  |  |  |
| Financials - 1.5% |  |  |
| Financial Services - 1.5% |  |  |
| Investor AB B Shares  | 7305 | 212302 |
| Industrials - 2.2% |  |  |
| Machinery - 2.2% |  |  |
| Atlas Copco AB A Shares  | 14257 | 217585 |
| Indutrade AB  | 4267 | 103915 |
|  |  | 321500 |
| TOTAL SWEDEN |  | 533802 |
| SWITZERLAND - 3.0%  |  |  |
| Financials - 3.0% |  |  |
| Capital Markets - 3.0% |  |  |
| Partners Group Holding AG  | 120 | 162733 |
| UBS Group AG  | 7263 | 272189 |
| TOTAL SWITZERLAND |  | 434922 |
| UNITED KINGDOM - 17.9%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.5% |  |  |
| Zegona Communications plc (b) | 5620 | 65908 |
| Consumer Discretionary - 2.9% |  |  |
| Hotels, Restaurants & Leisure - 2.4% |  |  |
| Compass Group PLC  | 7807 | 274770 |
| InterContinental Hotels Group PLC  | 685 | 79283 |
|  |  | 354053 |
| Leisure Products - 0.5% |  |  |
| Games Workshop Group PLC  | 330 | 70994 |
| TOTAL CONSUMER DISCRETIONARY |  | 425047 |
| Consumer Staples - 0.7% |  |  |
| Tobacco - 0.7% |  |  |
| Imperial Brands PLC  | 2723 | 106230 |
| Financials - 4.8% |  |  |
| Banks - 1.2% |  |  |
| Lloyds Banking Group PLC  | 19421 | 19954 |
| NatWest Group PLC  | 21697 | 151007 |
|  |  | 170961 |
| Capital Markets - 3.6% |  |  |
| 3i Group PLC  | 4418 | 242196 |
| London Stock Exchange Group PLC  | 2314 | 282984 |
|  |  | 525180 |
| TOTAL FINANCIALS |  | 696141 |
| Health Care - 0.9% |  |  |
| Health Care Equipment & Supplies - 0.4% |  |  |
| ConvaTec Group PLC (c)(d) | 18303 | 56417 |
| Pharmaceuticals - 0.5% |  |  |
| Astrazeneca PLC  | 481 | 71934 |
| TOTAL HEALTH CARE |  | 128351 |
| Industrials - 7.2% |  |  |
| Aerospace & Defense - 4.2% |  |  |
| BAE Systems PLC  | 12782 | 304525 |
| Rolls-Royce Holdings PLC  | 21067 | 298253 |
|  |  | 602778 |
| Professional Services - 2.3% |  |  |
| RELX PLC  | 6321 | 328571 |
| Trading Companies & Distributors - 0.7% |  |  |
| Diploma PLC  | 1397 | 99258 |
| TOTAL INDUSTRIALS |  | 1030607 |
| Information Technology - 0.9% |  |  |
| Electronic Equipment, Instruments & Components - 0.9% |  |  |
| Halma PLC  | 3074 | 132021 |
| TOTAL UNITED KINGDOM |  | 2584305 |
| UNITED STATES - 8.6%  |  |  |
| Communication Services - 0.8% |  |  |
| Entertainment - 0.8% |  |  |
| Spotify Technology SA (b) | 194 | 121549 |
| Energy - 1.8% |  |  |
| Oil, Gas & Consumable Fuels - 1.8% |  |  |
| Shell PLC  | 6930 | 248114 |
| Health Care - 0.8% |  |  |
| Health Care Equipment & Supplies - 0.8% |  |  |
| Alcon AG  | 1357 | 119987 |
| Industrials - 3.7% |  |  |
| Electrical Equipment - 2.1% |  |  |
| Schneider Electric SE  | 1133 | 295123 |
| Professional Services - 1.6% |  |  |
| Experian PLC  | 4305 | 227643 |
| TOTAL INDUSTRIALS |  | 522766 |
| Materials - 1.5% |  |  |
| Construction Materials - 1.5% |  |  |
| Amrize Ltd  | 1447 | 73147 |
| Holcim AG  | 1879 | 150320 |
|  |  | 223467 |
| TOTAL UNITED STATES |  | 1235883 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $12,307,294) |  | <br> **14285913** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.8%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.8%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.8%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.8%** |
|  | Yield (%) (e) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 9/4/2025 <br>(Cost $119,519)<br>| 4.29 | 120000 | **119515** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f)<br>(Cost $29,179)<br>| 4.33 | 29173 | **29179** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.9%**<br> (Cost $12,455,992)<br>| <br>**14434607** |
| **NET OTHER ASSETS (LIABILITIES) - 0.1%**  | **18027** |
| **NET ASSETS - 100.0%** | **14452634** |

---

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Non-income producing.

(c) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $56,417 or 0.4% of net assets.

(d) 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 $56,417 or 0.4% of net assets.

(e) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

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

**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 ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | - | 15255986 | 15226807 | 4775 | - | - | 29179 | 29173 | 0.0% |
| Total | - | 15255986 | 15226807 | 4775 | - | - | 29179 |  |  |

---

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.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

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

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual 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.*

*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 Fundamental Developed International ETF

- **b. EDGAR series identifier (if any):** S000087781

- **c. LEI of Series:** 254900HP7FM6U2PDH722

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

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

- **b. Date as of which information is reported:** 2025-07-31

**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:** $14459364.42

**Total Liabilities:** $6740.14

**Net Assets:** $14452624.28

**Cash Not Reported:** $7149.09

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253743 | 5.47%                | 2.95%                | -2.46%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-16637.72               | $685175.61                                 |
| Month 2  | $55017.11                | $361714.93                                 |
| Month 3  | $25422.84                | $-386633.27                                |

### 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        |       274 | NS      | $108565.55    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| BE SEMICONDUCTOR INDUSTRIES NV                            | BE SEMICOND INDUS NV (NETH)          | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Long             | EC               | CORP              | NL        |       239 | NS      | $32484.14     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HANNOVER RUECK SA                                         | HANNOVER RUECKVERSICHERUNGS SE(REGD) | CUSIP: N/A<br>LEI: 529900KIN5BE45V5KB18       | Long             | EC               | CORP              | DE        |       646 | NS      | $196394.13    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| IBERDROLA SA                                              | IBERDROLA SA                         | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |      2898 | NS      | $50782.02     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| LONDON STOCK EXCHANGE GROUP PLC                           | LONDON STOCK EXCHANGE GRP PLC        | CUSIP: N/A<br>LEI: 213800QAUUUP6I445N30       | Long             | EC               | CORP              | GB        |      2314 | NS      | $282984.13    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERZBANK AG                                            | COMMERZBANK AG                       | CUSIP: N/A<br>LEI: 851WYGNLUQLFZBSYGB56       | Long             | EC               | CORP              | DE        |       822 | NS      | $30055.65     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FAST RETAILING CO LTD                                     | FAST RETAILING CO LTD                | CUSIP: N/A<br>LEI: 353800ZCXKHDPY0N5218       | Long             | EC               | CORP              | JP        |       377 | NS      | $115950.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                                    | AXA SA                               | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |      3627 | NS      | $176658.17    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSILORLUXOTTICA                                          | ESSILORLUXOTTICA                     | CUSIP: N/A<br>LEI: 549300M3VH1A3ER1TB49       | Long             | EC               | CORP              | FR        |       589 | NS      | $175166.67    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ROLLS-ROYCE HOLDINGS PLC                                  | ROLLS-ROYCE HOLDINGS PLC             | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |     21067 | NS      | $298253.27    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KINGSPAN GROUP PLC                                        | KINGSPAN GROUP PLC                   | CUSIP: N/A<br>LEI: 635400HM7V74SUB9OG75       | Long             | EC               | CORP              | IE        |      1711 | NS      | $141855.90    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO SANTANDER SA                                        | BANCO SANTANDER SA                   | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |     29114 | NS      | $250382.82    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| RECRUIT HOLDINGS CO LTD                                   | RECRUIT HOLDINGS CO LTD              | CUSIP: N/A<br>LEI: 353800R2LRSMVVC4I806       | Long             | EC               | CORP              | JP        |       460 | NS      | $27612.20     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                                    | SAP SE                               | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |      1714 | NS      | $490569.01    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANTEST CORP                                            | ADVANTEST CORP                       | CUSIP: N/A<br>LEI: 353800EMK32PDKS9XR54       | Long             | EC               | CORP              | JP        |      1766 | NS      | $121207.56    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI HEAVY INDUSTRIES LTD                           | MITSUBISHI HEAVY INDS LTD            | CUSIP: N/A<br>LEI: 353800TJ98PCAZROVE69       | Long             | EC               | CORP              | JP        |      9322 | NS      | $224395.62    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG IN MUENCHEN | MUNICH REINSURANCE (REG)             | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |       332 | NS      | $218082.41    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCOR SA                                                  | ACCOR SA                             | CUSIP: N/A<br>LEI: 969500QZC2Q0TK11NV07       | Long             | EC               | CORP              | FR        |      1759 | NS      | $89649.18     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX PLC                                                  | RELX PLC                             | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |      6321 | NS      | $328570.54    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| HOYA CORP                                                 | HOYA CORP                            | CUSIP: N/A<br>LEI: 353800X4VR3BHEUCJB42       | Long             | EC               | CORP              | JP        |      1265 | NS      | $160893.24    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CAIXABANK SA                                              | CAIXABANK SA                         | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |     30532 | NS      | $287455.73    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| KBC GROUPE SA/NV                                          | KBC GROUPE SA                        | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |      1776 | NS      | $185976.53    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| FINECOBANK SPA                                            | FINECOBANK SPA                       | CUSIP: N/A<br>LEI: 549300L7YCATGO57ZE10       | Long             | EC               | CORP              | IT        |      3216 | NS      | $68704.26     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| HERMES INTL SCA                                           | HERMES INTERNATIONAL SA              | CUSIP: N/A<br>LEI: 969500Y4IJGHJE2MTJ13       | Long             | EC               | CORP              | FR        |        62 | NS      | $152192.71    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FUJITSU LTD                                               | FUJITSU LTD                          | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24       | Long             | EC               | CORP              | JP        |      2284 | NS      | $50057.16     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FERRARI NV                                                | FERRARI NV                           | CUSIP: N/A<br>LEI: 549300RIVY5EX8RCON76       | Long             | EC               | CORP              | NL        |       192 | NS      | $84423.24     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| DANONE SA                                                 | DANONE SA                            | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |      1818 | NS      | $149129.55    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GAMES WORKSHOP GROUP PLC                                  | GAMES WORKSHOP GROUP CO PLC          | CUSIP: N/A<br>LEI: 213800RP9QJQYGWHNT41       | Long             | EC               | CORP              | GB        |       330 | NS      | $70994.18     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| HEIDELBERG MATERIALS AG                                   | HEIDELBERG MATERIALS AG              | CUSIP: N/A<br>LEI: LZ2C6E0W5W7LQMX5ZI37       | Long             | EC               | CORP              | DE        |       671 | NS      | $155063.40    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION SOFTWARE INC                                | CONSTELLATION SOFTWARE INC           | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |        68 | NS      | $234598.04    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE SYSTEMS PLC                                           | BAE SYSTEMS PLC                      | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |     12782 | NS      | $304525.09    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AMRIZE LTD                                                | AMRIZE LTD                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CH        |      1447 | NS      | $73147.21     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU CORPORATION                                        | ITOCHU CORP                          | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |      3416 | NS      | $179702.44    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DASSAULT SYSTEMES SA                                      | DASSAULT SYSTEMES SA                 | CUSIP: N/A<br>LEI: 96950065LBWY0APQIM86       | Long             | EC               | CORP              | FR        |      1855 | NS      | $61157.99     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AJINOMOTO CO INC                                          | AJINOMOTO CO INC                     | CUSIP: N/A<br>LEI: 353800UT0TLROREPIC92       | Long             | EC               | CORP              | JP        |      4416 | NS      | $117281.70    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR LIQUIDE SA                                            | AIR LIQUIDE SA                       | CUSIP: N/A<br>LEI: 969500MMPQVHK671GT54       | Long             | EC               | CORP              | FR        |      1758 | NS      | $346676.48    | 2.40%             |  |  |  | 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        |      5806 | NS      | $148422.61    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOTIFY TECHNOLOGY SA                                     | SPOTIFY TECHNOLOGY SA                | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |       194 | NS      | $121548.76    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PRYSMIAN SPA                                              | PRYSMIAN SPA                         | CUSIP: N/A<br>LEI: 529900X0H1IO3RS1A464       | Long             | EC               | CORP              | IT        |       156 | NS      | $12529.55     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| RHEINMETALL                                               | RHEINMETALL AG ORD                   | CUSIP: N/A<br>LEI: 5299001OU9CSE29O6S05       | Long             | EC               | CORP              | DE        |        70 | NS      | $138638.68    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLAS COPCO AB                                            | ATLAS COPCO AB SER A                 | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |     14257 | NS      | $217585.19    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| BAYCURRENT INC                                            | BAYCURRENT INC                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       849 | NS      | $48845.65     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CONVATEC GROUP PLC                                        | CONVATEC GROUP PLC                   | CUSIP: N/A<br>LEI: 213800LS272L4FIDOH92       | Long             | EC               | CORP              | GB        |     18303 | NS      | $56417.11     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTOCRAT LEISURE LTD                                    | ARISTOCRAT LEISURE LTD               | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |      3051 | NS      | $137329.19    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                                                 | SHELL PLC                            | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |      6930 | NS      | $248113.55    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| HOLCIM AG                                                 | HOLCIM LTD                           | CUSIP: N/A<br>LEI: 529900EHPFPYHV6IQO98       | Long             | EC               | CORP              | CH        |      1879 | NS      | $150320.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WOLTERS KLUWER NV                                         | WOLTERS KLUWER NV                    | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |      1674 | NS      | $261147.42    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                                           | ASTRAZENECA PLC                      | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |       481 | NS      | $71933.75     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NINTENDO CO LTD                                           | NINTENDO CO LTD                      | CUSIP: N/A<br>LEI: 353800FEEXU6I9M0ZF27       | Long             | EC               | CORP              | JP        |      2090 | NS      | $175875.99    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFRAN SA                                                 | SAFRAN SA                            | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |      1108 | NS      | $366058.16    | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ALTEN SA                                                  | ALTEN                                | CUSIP: N/A<br>LEI: 969500Y7G9TY7Y24GN07       | Long             | EC               | CORP              | FR        |       125 | NS      | $10220.87     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE TELEKOM AG                                       | DEUTSCHE TELEKOM AG (REGD)           | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |      5210 | NS      | $187169.13    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPERIAN PLC                                              | EXPERIAN PLC                         | CUSIP: N/A<br>LEI: 635400RXXHHYT1JTSZ26       | Long             | EC               | CORP              | JE        |      4305 | NS      | $227643.35    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHNEIDER ELEC SA                                         | SCHNEIDER ELECTRIC SE                | CUSIP: N/A<br>LEI: 969500A1YF1XUYYXS284       | Long             | EC               | CORP              | FR        |      1133 | NS      | $295122.59    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS GROUP AG                                              | UBS GROUP AG                         | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |      7263 | NS      | $272189.25    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN PACIFIC KANSAS CITY LTD                          | CANADIAN PACIFIC KANSAS CITY LTD     | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       117 | NS      | $8604.43      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UNICREDIT SPA                                             | UNICREDIT SPA                        | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |      5305 | NS      | $391274.29    | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SONY GROUP CORP                                           | SONY GROUP CORP                      | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |      5615 | NS      | $137098.34    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust                              | Fidelity Cash Central Fund           | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |     29173 | NS      | $29178.78     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ZEGONA COMMUNICATIONS PLC                                 | ZEGONA COMMUNICATIONS PLC            | CUSIP: N/A<br>LEI: 213800ASI1VZL2ED4S65       | Long             | EC               | CORP              | GB        |      5620 | NS      | $65907.83     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL OIL LTD                                          | IMPERIAL OIL LTD                     | CUSIP: 453038408<br>LEI: 549300MO45LTBPAU4Z27 | Long             | EC               | CORP              | CA        |      1178 | NS      | $98220.51     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                                       | IMPERIAL BRANDS PLC                  | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |      2723 | NS      | $106229.68    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPCOM CO LTD                                             | CAPCOM CO LTD                        | CUSIP: N/A<br>LEI: 529900JJWQKXS3TC8744       | Long             | EC               | CORP              | JP        |      2475 | NS      | $63614.72     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| HALMA PLC                                                 | HALMA PLC                            | CUSIP: N/A<br>LEI: 2138007FRGLUR9KGBT40       | Long             | EC               | CORP              | GB        |      3074 | NS      | $132020.73    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| FUJIFILM HLDGS CORP                                       | FUJIFILM HOLDINGS CORP               | CUSIP: N/A<br>LEI: 529900UBKMFM0ST6H474       | Long             | EC               | CORP              | JP        |      6594 | NS      | $138001.75    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED OVERSEAS BANK LTD                                  | UNITED OVERSEAS BANK (LOC)           | CUSIP: N/A<br>LEI: IO66REGK3RCBAMA8HR66       | Long             | EC               | CORP              | SG        |      2344 | NS      | $65333.76     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL HOTELS GROUP PLC NEW                     | INTERCONTINENTAL HOTELS GP PLC       | CUSIP: N/A<br>LEI: 2138007ZFQYRUSLU3J98       | Long             | EC               | CORP              | GB        |       685 | NS      | $79283.11     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                                    | UCB SA                               | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |       465 | NS      | $101063.82    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| VONOVIA SE                                                | VONOVIA SE                           | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | EC               | CORP              | DE        |      1107 | NS      | $34463.05     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| 3I GROUP PLC                                              | 3I GROUP PLC                         | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |      4418 | NS      | $242195.56    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| HITACHI LTD                                               | HITACHI LTD                          | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |     13123 | NS      | $408744.90    | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX CORP                                                 | ORIX CORP                            | CUSIP: N/A<br>LEI: 35380016EMHNBOVYE123       | Long             | EC               | CORP              | JP        |      1432 | NS      | $32286.47     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LTD                            | CANADIAN NATL RESOURCES LTD          | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |      2724 | NS      | $86225.92     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOPIFY INC                                               | SHOPIFY INC CL A                     | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |       338 | NS      | $41306.98     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE BOERSE AG                                        | DEUTSCHE BOERSE AG                   | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               | CORP              | DE        |      1031 | NS      | $298968.27    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESTOR AB                                               | INVESTOR AB SER B                    | CUSIP: N/A<br>LEI: 549300VEBQPHRZBKUX38       | Long             | EC               | CORP              | SE        |      7305 | NS      | $212301.50    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM INTL NV                                               | ASM INTERNATIONAL NV (NETH)          | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |       162 | NS      | $79033.81     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL MUSIC GROUP NV                                  | UNIVERSAL MUSIC GROUP NV             | CUSIP: N/A<br>LEI: 724500GJBUL3D9TW9Y18       | Long             | EC               | CORP              | NL        |      2095 | NS      | $60678.86     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIN ETSU CHEM CO LTD                                     | SHIN-ETSU CHEMICAL CO LTD            | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |      4850 | NS      | $141351.13    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| IMCD NV                                                   | IMCD GROUP BV                        | CUSIP: N/A<br>LEI: 724500NSJPNFJPDAUP02       | Long             | EC               | CORP              | NL        |       742 | NS      | $81560.93     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV                                           | ASML HOLDING NV                      | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       232 | NS      | $162323.38    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                  | LLOYDS BANKING GROUP PLC             | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               | CORP              | GB        |     19421 | NS      | $19954.41     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA SPA            | RECORDATI SPA                        | CUSIP: N/A<br>LEI: 815600FBF92FD3531704       | Long             | EC               | CORP              | IT        |      1383 | NS      | $79545.29     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMECO CORP                                               | CAMECO CORP                          | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |       924 | NS      | $69373.35     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ALCON INC                                                 | ALCON INC                            | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |      1357 | NS      | $119987.37    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANCO NEVADA CORP                                        | FRANCO-NEVADA CORP                   | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |       335 | NS      | $53364.03     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS GROUP PLC                                         | COMPASS GROUP PLC                    | CUSIP: N/A<br>LEI: 2138008M6MH9OZ6U2T68       | Long             | EC               | CORP              | GB        |      7807 | NS      | $274769.88    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| RENESAS ELECTRONICS CORP                                  | RENESAS ELECTRONICS CORP             | CUSIP: N/A<br>LEI: 5299000EPC47VJQOFB81       | Long             | EC               | CORP              | JP        |      2212 | NS      | $27371.30     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NATWEST GROUP PLC                                         | NATWEST GROUP PLC                    | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |     21697 | NS      | $151007.33    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| DSV A/S                                                   | DSV A/S                              | CUSIP: N/A<br>LEI: 529900X41C0BSLK67H70       | Long             | EC               | CORP              | DK        |       853 | NS      | $190990.10    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| UST BILLS                                                 | UST BILLS 0% 09/04/2025              | CUSIP: 912797MH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    120000 | PA      | $119515.27    | 0.83%             | 2025-09-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TOKIO MARINE HOLDINGS INC                                 | TOKIO MARINE HOLDINGS INC            | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |      5446 | NS      | $221162.49    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI UFJ FINANCIAL GROUP INC                        | MITSUBISHI UFJ FINL GRP INC          | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |      2382 | NS      | $33336.94     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PARTNERS GROUP HOLDING                                    | PARTNERS GROUP HOLDING AG            | CUSIP: N/A<br>LEI: 549300I3IVVWZWDHI788       | Long             | EC               | CORP              | CH        |       120 | NS      | $162733.15    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DIPLOMA PLC                                               | DIPLOMA PLC                          | CUSIP: N/A<br>LEI: 2138008OGI7VYG8FGR19       | Long             | EC               | CORP              | GB        |      1397 | NS      | $99258.21     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| THALES SA                                                 | THALES                               | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |       182 | NS      | $48975.28     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| INDUTRADE AB                                              | INDUTRADE AB                         | CUSIP: N/A<br>LEI: 549300FISLQ6CEFP1867       | Long             | EC               | CORP              | SE        |      4267 | NS      | $103915.29    | 0.72%             |  |  |  | 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        |      2628 | NS      | $125901.11    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SEA LTD                                                   | SEA LTD ADR                          | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |       303 | NS      | $47464.95     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer