l
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
93.2%
Air
Freight
&
Logistics
1.6%
a
SF
Holding
Co.
Ltd.,
A
..................................
China
729,500
$
3,671,583
Automobile
Components
2.6%
a
Fuyao
Glass
Industry
Group
Co.
Ltd.,
A
.....................
China
886,922
5,271,133
b
Fuyao
Glass
Industry
Group
Co.
Ltd.,
H,
144A,
Reg
S
..........
China
150,400
757,758
6,028,891
Automobiles
0.6%
a
BYD
Co.
Ltd.,
A
.......................................
China
47,000
1,356,435
Banks
5.5%
China
Construction
Bank
Corp.,
H
.........................
China
10,400,000
6,276,164
a
China
Merchants
Bank
Co.
Ltd.,
A
.........................
China
763,800
3,407,095
China
Merchants
Bank
Co.
Ltd.,
H
.........................
China
840,570
3,331,635
13,014,894
Beverages
8.3%
China
Resources
Beer
Holdings
Co.
Ltd.
....................
China
467,394
2,158,287
a
Kweichow
Moutai
Co.
Ltd.,
A
.............................
China
51,845
12,221,710
a
Wuliangye
Yibin
Co.
Ltd.,
A
..............................
China
241,588
5,123,450
19,503,447
Broadline
Retail
8.8%
Alibaba
Group
Holding
Ltd.
..............................
China
1,541,151
13,936,462
c
PDD
Holdings,
Inc.,
ADR
................................
China
58,809
6,836,546
20,773,008
Chemicals
0.8%
a
Guangzhou
Tinci
Materials
Technology
Co.
Ltd.,
A
.............
China
633,280
1,908,712
Distributors
1.4%
c,d
GigaCloud
Technology,
Inc.,
A
............................
Hong
Kong
123,955
3,312,078
Diversified
Consumer
Services
1.7%
c
New
Oriental
Education
&
Technology
Group,
Inc.
.............
China
254,228
2,221,931
c
New
Oriental
Education
&
Technology
Group,
Inc.,
ADR
........
China
20,000
1,736,400
3,958,331
Electrical
Equipment
5.4%
a
Contemporary
Amperex
Technology
Co.
Ltd.,
A
...............
China
73,164
1,913,000
a
GoodWe
Technologies
Co.
Ltd.,
A
.........................
China
73,661
1,019,603
a
Hongfa
Technology
Co.
Ltd.,
A
............................
China
1,155,209
3,895,491
a
NARI
Technology
Co.
Ltd.,
A
.............................
China
1,764,643
5,890,936
12,719,030
Electronic
Equipment,
Instruments
&
Components
0.9%
a
WUS
Printed
Circuit
Kunshan
Co.
Ltd.,
A
....................
China
510,910
2,153,594
Entertainment
5.0%
b,c
Maoyan
Entertainment,
144A,
Reg
S
.......................
China
883,354
1,080,561
NetEase,
Inc.
........................................
China
514,088
10,652,816
11,733,377
Food
Products
2.6%
b
China
Feihe
Ltd.,
144A,
Reg
S
...........................
China
4,300,000
2,023,526
a
Inner
Mongolia
Yili
Industrial
Group
Co.
Ltd.,
A
...............
China
1,073,900
4,135,162
6,158,688