Last week Stockhead’s loyal readers heard from BetaShares on what a general ethical investing strategy might look like. But should you choose a specific “ethical investment”?

Read More: Ethical Investing: What does it actually look like? 

This week, Stockhead reached out to Vanguard for its hot tips. Like BetaShares, Vanguard operates an ethical (or sustainable) exchange traded fund (ETF) on the ASX. The Vanguard Ethically Conscious International Shares Index Fund and ETF (ASX:VESG) was launched last year. While VESG initially fell during last year’s downturn, it has recovered and now sits 5 per cent higher than when it listed.

Since 2016 it has offered the non-listed Vanguard International Shares Select Exclusions Index Fund.

But however easy it is to just exclude “unethical” industries – how can you judge an individual investment? We know that it is possible to judge, the Responsible Investment Association of Australia has a certification. How can you though?

Vanguard’s 4-step process

Vanguard provided Stockhead with its own framework for investors. In the guide, there is a four-step decision making process.

Pic: Vanguard

First investors have to decide what issue matters most to them. A firm that is environmentally friendly may be a laggard on gender equality. And just because the company itself may be ethical, does its suppliers abide by their standards? If not is its management fine with it or turning a blind eye?

Second, study ways to address a company’s goals, both ESG and financial, and third decide on an action. This may not just be buying or selling stock but potentially engaging in shareholder activism. Vanguard particularly implored fund managers and custodians saying they, “have a responsibility to advocate for change if it can help maximise long-term value”.

You’d expect the Australian Institute of Company Directors to be against anyone making life difficult for their members’ businesses. But their general manager of advocacy, Louise Petschler, told Stockhead last month shareholder expectations could not be ignored. “Clearly expectations of boards are rising and it is incumbent on directors to listen to diverse perspectives,” she said.

The final step is to reassess decisions periodically to determine whether or not a company’s goals are being met.

Screening

Of course, then comes the matter of picking the stocks themselves. Without giving their own recommended figures, Vanguard advised considering ESG metrics and from there choosing either an exclusionary or inclusionary approach.

An exclusionary approach involves eliminating the “worst” (while picking the least worst), while an inclusionary approach is about choosing only the best — the leaders. Stockhead recently spoke with BetaShares CEO Alex Vynokur, who called the former a “dark green approach to investing”.

But he said the success of his company’s ethical ETF was due to both his company’s and investors’ belief that, “near enough is not good enough”.

Vanguard’s ETF

Compared to Betashares’ ETF allocation, Vanguard has a far wider portfolio with over 1,600 stocks and a different composition.

BetaShares had two stocks in materials and a small portion of its shares in tech, but tech was Vanguard’s largest sector at nearly 20 per cent and there were over 100 materials stocks which did include a handful of metals stocks.

Sector Companies held % of portfolio Shares held
Communication Services 117 9.75 2,649,886
Consumer Discretionary 235 11.87 3,228,212
Consumer Staples 134 7.78 2,114,341
Energy 28 1.55 420,683
Financials 286 18.44 5,014,162
Health Care 158 14.89 4,048,589
Industrials 240 7.48 2,034,278
Information Technology 168 19.73 5,363,344
Materials 124 3.80 1,032,634
Real Estate 103 3.51 953,512
Utilities 41 1.20 326,695

Here’s a list of all Vanguard’s Sustainable ETF holdings.

There are none solely listed in Australia, although there are a couple in New Zealand that are dual-listed including A2 Milk (ASX:A2M) and Auckland Airport (ASX:AKL). They have also invested in our NASDAQ-export Altissan.

If you look at Vanguard’s portfolio, some stocks may raise eyebrows such as Goldman Sachs, in the light of the 1MDB scandal. The bank is accused of bribery and fund misappropriation during a capital raise for Malaysia’s state-owned fund.

One also might question the ownership of American Airlines in light of its industrial disputes. However, among the airlines the Dallas-headquartered American Airlines has been one of the most improved in emission reduction pursuits.

Firm name % Weight Shares owned
1&1 DRILLISCH AG 0.00 518
ACTIVISION BLIZZARD INC 0.11 28,922
ADEVINTA ASA-A 0.00 402
ADEVINTA ASA-B 0.00 890
ALPHABET INC-CL A 0.94 256,669
ALPHABET INC-CL C 0.97 262,866
AT&T INC 0.70 189,803
AUTO TRADER GROUP PLC 0.02 4,493
AXEL SPRINGER SE 0.01 1,483
BCE INC 0.04 9,818
BEZEQ THE ISRAELI TELECOM CO 0.00 849
BT GROUP PLC 0.06 15,206
CAPCOM CO LTD 0.00 1,187
CBS CORP-CLASS B NON VOTING 0.05 13,020
CD PROJEKT SA 0.01 1,750
CELLNEX TELECOM SA 0.03 7,311
CENTURYLINK INC 0.04 9,519
CHARTER COMMUNICATIONS INC-A 0.19 51,599
CHEIL WORLDWIDE INC 0.01 1,745
CINEWORLD GROUP PLC 0.01 2,662
COMCAST CORP-CLASS A 0.55 150,090
CYBERAGENT INC 0.01 3,388
CYFROWY POLSAT SA 0.01 1,887
DAIICHIKOSHO CO LTD 0.00 1,145
DENA CO LTD 0.00 1,104
DENTSU INC 0.02 5,491
DISCOVERY INC - A 0.02 4,769
DISCOVERY INC-C 0.02 6,308
DISH NETWORK CORP-A 0.03 6,912
ELECTRONIC ARTS INC 0.09 23,682
ELISA OYJ 0.02 4,078
EUTELSAT COMMUNICATIONS 0.01 3,480
FACEBOOK INC-CLASS A 1.32 359,715
HAKUHODO DY HOLDINGS INC 0.01 4,068
IAC/INTERACTIVECORP 0.05 12,369
ILIAD SA 0.01 3,117
INFORMA PLC 0.04 10,363
INTERPUBLIC GROUP OF COS INC 0.02 5,910
ITV PLC 0.01 3,240
JCDECAUX SA 0.00 736
KAKAKU.COM INC 0.01 1,964
KAKAO CORP 0.01 3,306
KDDI CORP 0.13 35,743
KOEI TECMO HOLDINGS CO LTD 0.01 1,889
KONAMI HOLDINGS CORP 0.01 2,724
KONINKLIJKE KPN NV 0.03 8,808
LAGARDERE SCA 0.01 3,204
LG UPLUS CORP 0.00 1,101
LIBERTY BROADBAND-C 0.04 10,166
LIBERTY GLOBAL PLC- C 0.05 12,731
LIBERTY GLOBAL PLC-A 0.01 3,209
LIBERTY MEDIA COR-SIRIUSXM A 0.01 1,796
LIBERTY MEDIA COR-SIRIUSXM C 0.02 6,122
LINE CORP 0.01 2,113
LIVE NATION ENTERTAINMENT IN 0.03 7,835
NAVER CORP 0.04 10,481
NCSOFT CORP 0.02 5,675
NETFLIX INC 0.45 122,648
NETMARBLE CORP 0.00 991
NEWS CORP - CLASS A 0.02 4,362
NEWS CORP - CLASS B 0.01 1,379
NEXON CO LTD 0.02 4,147
NINTENDO CO LTD 0.11 30,381
NIPPON TELEGRAPH & TELEPHONE 0.09 25,329
NTT DOCOMO INC 0.08 21,126
OMNICOM GROUP 0.05 14,148
ORANGE 0.09 23,181
PCCW LTD 0.01 2,798
PEARSON PLC 0.02 5,447
PROSIEBENSAT.1 MEDIA SE 0.01 4,009
PROXIMUS 0.01 3,832
PUBLICIS GROUPE 0.04 9,691
RIGHTMOVE PLC 0.02 5,902
ROGERS COMMUNICATIONS INC-B 0.06 15,569
RTL GROUP 0.00 614
SCHIBSTED ASA-B SHS 0.01 2,136
SCHIBSTED ASA-CL A 0.00 998
SCOUT24 AG 0.02 6,011
SES 0.02 4,627
SHAW COMMUNICATIONS INC-B 0.02 6,534
SINGAPORE PRESS HOLDINGS LTD 0.01 1,827
SINGAPORE TELECOMMUNICATIONS 0.05 14,138
SIRIUS XM HOLDINGS INC 0.02 6,729
SK TELECOM 0.02 4,702
SOFTBANK CORP 0.06 16,200
SOFTBANK GROUP CORP 0.24 65,027
SPARK NEW ZEALAND LTD 0.02 4,629
SPRINT CORP 0.02 4,442
SWISSCOM AG-REG 0.04 10,884
T-MOBILE US INC 0.07 17,832
TAKE-TWO INTERACTIVE SOFTWRE 0.04 9,537
TELE2 AB-B SHS 0.02 4,990
TELECOM ITALIA SPA 0.01 2,482
TELECOM ITALIA-RSP 0.01 3,440
TELEFONICA DEUTSCHLAND HOLDI 0.00 1,111
TELEFONICA SA 0.11 29,461
TELENET GROUP HOLDING NV 0.01 3,012
TELENOR ASA 0.04 11,304
TELIA CO AB 0.04 10,460
TELUS CORP 0.03 6,857
TOHO CO LTD 0.02 4,260
TOKYO BROADCASTING SYSTEM 0.01 1,429
TRIPADVISOR INC 0.02 4,248
TWITTER INC 0.07 20,288
UBISOFT ENTERTAINMENT 0.02 5,278
UNITED INTERNET AG-REG SHARE 0.01 3,132
VEON LTD 0.01 1,948
VERIZON COMMUNICATIONS INC 0.67 183,089
VIACOM INC-CLASS B 0.03 9,515
VIVENDI 0.08 21,696
VODAFONE GROUP PLC 0.12 33,699
WALT DISNEY CO/THE 0.71 193,738
WPP PLC 0.05 12,411
YAHOO JAPAN CORP 0.02 5,002
YANDEX NV-A 0.03 7,642
ZILLOW GROUP INC - A 0.01 2,530
ZILLOW GROUP INC - C 0.01 3,628
ABC-MART INC 0.00 526
ADIDAS AG 0.17 46,436
ADVANCE AUTO PARTS INC 0.03 8,414
AISIN SEIKI CO LTD 0.02 5,202
AMAZON.COM INC 2.28 620,341
APTIV PLC 0.07 17,805
ARAMARK 0.02 5,767
ASICS CORP 0.00 909
AUTOBACS SEVEN CO LTD 0.01 2,735
AUTOLIV INC 0.02 4,946
AUTOZONE INC 0.08 22,208
B&M EUROPEAN VALUE RETAIL SA 0.01 3,096
BANDAI NAMCO HOLDINGS INC 0.03 7,223
BARRATT DEVELOPMENTS PLC 0.02 5,680
BAYERISCHE MOTOREN WERKE AG 0.06 17,543
BAYERISCHE MOTOREN WERKE-PRF 0.01 3,637
BELLWAY PLC 0.01 3,997
BENESSE HOLDINGS INC 0.00 780
BERKELEY GROUP HOLDINGS/THE 0.02 4,456
BEST BUY CO INC 0.04 12,074
BIC CAMERA INC 0.00 993
BOOKING HOLDINGS INC 0.25 67,849
BORGWARNER INC 0.02 6,573
BRIDGESTONE CORP 0.07 19,944
BURBERRY GROUP PLC 0.03 8,926
BURLINGTON STORES INC 0.03 9,218
CANADIAN TIRE CORP-CLASS A 0.02 4,473
CAPRI HOLDINGS LTD 0.02 4,082
CARMAX INC 0.04 11,823
CARNIVAL CORP 0.06 15,141
CARNIVAL PLC 0.02 5,608
CASIO COMPUTER CO LTD 0.01 1,450
CHIPOTLE MEXICAN GRILL INC 0.05 12,933
CIE FINANCIERE RICHEMONT-REG 0.13 34,352
CJ ENM CO LTD 0.00 910
COMPASS GROUP PLC 0.11 29,317
CONTINENTAL AG 0.05 12,347
DAIMLER AG-REGISTERED SHARES 0.14 37,911
DARDEN RESTAURANTS INC 0.04 11,628
DELIVERY HERO SE 0.01 2,805
DENSO CORP 0.06 15,141
DOLLAR GENERAL CORP 0.11 28,946
DOLLAR TREE INC 0.08 21,536
DOLLARAMA INC 0.03 7,800
DOMINO'S PIZZA INC 0.03 8,108
DR HORTON INC 0.04 10,669
DUFRY AG-REG 0.00 988
EBAY INC 0.10 27,451
ELECTROLUX AB-SER B 0.02 4,732
ESSILORLUXOTTICA 0.11 29,185
EXPEDIA GROUP INC 0.04 11,702
FAST RETAILING CO LTD 0.09 24,934
FAURECIA 0.01 2,892
FERRARI NV 0.05 14,923
FIAT CHRYSLER AUTOMOBILES NV 0.04 11,087
FIELMANN AG 0.00 1,359
FILA KOREA LTD 0.01 2,094
FOOT LOCKER INC 0.01 4,028
FORD MOTOR CO 0.11 31,161
GAP INC/THE 0.01 3,417
GARMIN LTD 0.03 7,575
GENERAL MOTORS CO 0.15 39,822
GENTEX CORP 0.01 3,995
GENUINE PARTS CO 0.05 12,377
GOLDWIN INC 0.01 2,136
GOODYEAR TIRE & RUBBER CO 0.01 2,924
H I S CO LTD 0.00 619
H&R BLOCK INC 0.02 4,380
HANESBRANDS INC 0.02 4,912
HANKOOK TIRE & TECHNOLOGY CO 0.00 953
HANON SYSTEMS 0.00 1,180
HARLEY-DAVIDSON INC 0.02 4,441
HASBRO INC 0.04 10,772
HASEKO CORP 0.01 3,067
HELLA GMBH & CO KGAA 0.00 1,069
HENNES & MAURITZ AB-B SHS 0.04 11,129
HERMES INTERNATIONAL 0.07 18,016
HIKARI TSUSHIN INC 0.02 5,441
HLB INC 0.00 840
HOME DEPOT INC 0.68 184,999
HONDA MOTOR CO LTD 0.13 35,782
HOTEL SHILLA CO LTD 0.00 1,120
HUGO BOSS AG -ORD 0.01 3,592
HUSQVARNA AB-B SHS 0.01 3,840
HYUNDAI DEPT STORE CO 0.00 1,233
HYUNDAI MOBIS CO LTD 0.04 11,664
HYUNDAI MOTOR CO 0.04 10,148
HYUNDAI MOTOR CO LTD-2ND PRF 0.00 1,242
HYUNDAI MOTOR CO LTD-PRF 0.02 6,108
IIDA GROUP HOLDINGS CO LTD 0.01 1,778
INCHCAPE PLC 0.01 3,305
INDUSTRIA DE DISENO TEXTIL 0.09 24,683
ISETAN MITSUKOSHI HOLDINGS L 0.02 5,115
ISUZU MOTORS LTD 0.02 5,013
IZUMI CO LTD 0.00 1,005
J FRONT RETAILING CO LTD 0.00 1,132
JD SPORTS FASHION PLC 0.01 1,959
JUST EAT PLC 0.01 2,779
K'S HOLDINGS CORP 0.00 1,044
KERING 0.13 34,349
KIA MOTORS CORP 0.03 7,653
KINGFISHER PLC 0.02 4,658
KOHLS CORP 0.02 5,657
KOITO MANUFACTURING CO LTD 0.01 4,014
KOMERI CO LTD 0.01 1,364
KONTOOR BRANDS INC 0.00 1,007
L BRANDS INC 0.02 5,507
LEAR CORP 0.03 7,536
LEGGETT & PLATT INC 0.02 4,759
LENNAR CORP-A 0.04 11,586
LG ELECTRONICS INC 0.02 5,237
LG ELECTRONICS-PREF 0.01 1,870
LI & FUNG LTD 0.00 200
LIFESTYLE INTL HLDGS LTD 0.00 1,081
LKQ CORP 0.02 6,714
LOTTE SHOPPING CO 0.00 1,127
LOWE'S COS INC 0.24 65,688
LPP SA 0.01 1,526
LULULEMON ATHLETICA INC 0.05 13,809
MACY'S INC 0.02 5,262
MAGNA INTERNATIONAL INC 0.04 11,755
MARKS & SPENCER GROUP PLC 0.01 3,947
MARUI GROUP CO LTD 0.02 4,080
MAZDA MOTOR CORP 0.02 5,738
MCDONALD'S CORP 0.46 125,241
MERCADOLIBRE INC 0.07 19,539
MERLIN ENTERTAINMENT 0.01 3,965
MICHELIN (CGDE) 0.06 16,575
MINTH GROUP LTD 0.01 2,214
MITSUBISHI MOTORS CORP 0.01 1,375
MOHAWK INDUSTRIES INC 0.03 6,872
MONCLER SPA 0.02 6,312
NEWELL BRANDS INC 0.02 5,298
NEXT PLC 0.03 6,806
NEXTEER AUTOMOTIVE GROUP LTD 0.00 613
NGK SPARK PLUG CO LTD 0.01 1,890
NHK SPRING CO LTD 0.00 975
NIFCO INC 0.00 1,259
NIKE INC -CL B 0.30 82,089
NIKON CORP 0.02 5,294
NISSAN MOTOR CO LTD 0.04 10,302
NITORI HOLDINGS CO LTD 0.03 8,435
NOK CORP 0.00 1,003
NOKIAN RENKAAT OYJ 0.01 3,832
NORDSTROM INC 0.01 3,516
NORWEGIAN CRUISE LINE HOLDIN 0.03 8,645
NVR INC 0.03 7,194
O'REILLY AUTOMOTIVE INC 0.09 23,928
OCADO GROUP PLC 0.02 5,001
ORIENTAL LAND CO LTD 0.07 19,472
PALTAC CORPORATION 0.00 1,359
PAN PACIFIC INTERNATIONAL HO 0.02 6,725
PANASONIC CORP 0.06 15,198
PANDORA A/S 0.01 1,884
PERSIMMON PLC 0.03 6,858
PEUGEOT SA 0.04 10,366
PIRELLI & C SPA 0.01 2,874
PLASTIC OMNIUM 0.00 823
POLARIS INDUSTRIES INC 0.02 4,490
PORSCHE AUTOMOBIL HLDG-PRF 0.03 9,039
PRADA S.P.A. 0.00 838
PULTEGROUP INC 0.02 6,273
PUMA SE 0.01 3,331
PVH CORP 0.02 5,612
QURATE RETAIL INC 0.01 3,993
RAKUTEN INC 0.02 6,558
RALPH LAUREN CORP 0.02 4,333
RENAULT SA 0.04 9,961
RESTAURANT BRANDS INTERN 0.05 13,014
RINNAI CORP 0.00 1,060
ROCKET INTERNET SE 0.01 1,714
ROSS STORES INC 0.10 27,219
RYOHIN KEIKAKU CO LTD 0.01 2,972
SA SA INTERNATIONAL HLDGS 0.00 518
SALVATORE FERRAGAMO SPA 0.01 2,399
SAMSONITE INTERNATIONAL SA 0.01 3,279
SANRIO CO LTD 0.01 2,207
SEB SA 0.02 4,400
SEKISUI CHEMICAL CO LTD 0.01 3,915
SEKISUI HOUSE LTD 0.03 7,020
SHARP CORP 0.00 463
SHIMAMURA CO LTD 0.00 614
SHIMANO INC 0.04 9,940
SHINSEGAE INC 0.00 1,195
SKYLARK HOLDINGS CO LTD 0.01 3,836
SODEXO SA 0.03 8,451
SONY CORP 0.20 54,377
STANLEY ELECTRIC CO LTD 0.01 3,537
STARBUCKS CORP 0.30 80,581
SUBARU CORP 0.04 11,612
SUMITOMO ELECTRIC INDUSTRIES 0.03 7,110
SUMITOMO FORESTRY CO LTD 0.00 905
SUMITOMO RUBBER INDUSTRIES 0.01 2,587
SUZUKI MOTOR CORP 0.06 17,159
SWATCH GROUP AG/THE-BR 0.01 3,363
SWATCH GROUP AG/THE-REG 0.02 4,403
TAKASHIMAYA CO LTD 0.00 459
TAPESTRY INC 0.02 6,766
TARGET CORP 0.13 35,187
TAYLOR WIMPEY PLC 0.02 6,160
TESLA INC 0.09 25,757
TIFFANY & CO 0.03 8,939
TJX COMPANIES INC 0.19 52,032
TOLL BROTHERS INC 0.02 4,263
TOYO TIRE CORP 0.00 1,113
TOYODA GOSEI CO LTD 0.00 164
TOYOTA INDUSTRIES CORP 0.02 5,956
TOYOTA MOTOR CORP 0.46 125,093
TRACTOR SUPPLY COMPANY 0.04 11,214
TS TECH CO LTD 0.00 933
ULTA BEAUTY INC 0.05 14,906
UNDER ARMOUR INC-CLASS A 0.02 4,978
UNDER ARMOUR INC-CLASS C 0.00 1,204
USS CO LTD 0.01 3,313
VAIL RESORTS INC 0.03 7,848
VALEO SA 0.02 5,000
VF CORP 0.09 23,731
VOLKSWAGEN AG 0.03 8,336
VOLKSWAGEN AG-PREF 0.07 19,541
WACOAL HOLDINGS CORP 0.00 1,078
WHIRLPOOL CORP 0.02 6,579
WHITBREAD PLC 0.03 7,521
WOONGJIN COWAY CO LTD 0.01 2,763
WYNDHAM HOTELS & RESORTS INC 0.02 4,246
XINYI GLASS HOLDINGS LTD 0.00 1,035
YAMADA DENKI CO LTD 0.01 3,307
YAMAHA CORP 0.02 5,187
YAMAHA MOTOR CO LTD 0.02 4,460
YOKOHAMA RUBBER CO LTD 0.00 1,084
YUE YUEN INDUSTRIAL HLDG 0.00 900
YUM CHINA HOLDINGS INC 0.04 12,164
YUM! BRANDS INC 0.10 25,953
ZALANDO SE 0.02 4,400
ZENSHO HOLDINGS CO LTD 0.00 1,344
ZOZO INC 0.01 1,764
A2 MILK CO LTD 0.02 5,891
AEON CO LTD 0.04 9,783
AIN HOLDINGS INC 0.00 954
AJINOMOTO CO INC 0.02 6,231
ALIMENTATION COUCHE-TARD -B 0.08 20,881
AMOREPACIFIC CORP 0.01 3,198
AMOREPACIFIC CORP-PREF 0.00 1,152
AMOREPACIFIC GROUP 0.00 772
ARCHER-DANIELS-MIDLAND CO 0.06 17,541
ARIAKE JAPAN CO LTD 0.01 1,629
ASSOCIATED BRITISH FOODS PLC 0.03 8,826
BARRY CALLEBAUT AG-REG 0.01 1,962
BEIERSDORF AG 0.04 9,611
BGF RETAIL CO LTD 0.01 2,108
BUNGE LTD 0.02 6,433
CALBEE INC 0.01 2,680
CAMPBELL SOUP CO 0.02 5,314
CARREFOUR SA 0.03 9,179
CASINO GUICHARD PERRACHON 0.00 900
CHINA MENGNIU DAIRY CO 0.03 7,953
CHOCOLADEFABRIKEN LINDT-PC 0.02 4,777
CHOCOLADEFABRIKEN LINDT-REG 0.02 6,654
CHURCH & DWIGHT CO INC 0.05 14,032
CJ CHEILJEDANG CORP 0.01 2,684
CLOROX COMPANY 0.06 15,868
COCA-COLA BOTTLERS JAPAN HOL 0.01 1,906
COCA-COLA CO/THE 0.57 154,669
COCA-COLA EUROPEAN PARTNERS 0.03 7,798
COCA-COLA HBC AG-DI 0.02 6,118
COLGATE-PALMOLIVE CO 0.17 47,330
COLRUYT SA 0.01 1,902
CONAGRA BRANDS INC 0.04 10,032
COSMOS PHARMACEUTICAL CORP 0.01 1,439
COSTCO WHOLESALE CORP 0.33 90,056
COTY INC-CL A 0.01 2,194
DAIRY FARM INTL HLDGS LTD 0.00 1,135
DANONE 0.14 39,203
DINO POLSKA SA 0.01 2,138
E-MART INC 0.01 2,798
ESSITY AKTIEBOLAG-B 0.05 14,905
ESTEE LAUDER COMPANIES-CL A 0.11 29,540
EZAKI GLICO CO LTD 0.00 1,105
FAMILYMART UNY HOLDINGS CO L 0.02 4,339
FANCL CORP 0.01 1,462
FUJI OIL HOLDINGS INC 0.00 1,231
GENERAL MILLS INC 0.09 24,353
GLANBIA PLC 0.01 3,246
GOLDEN AGRI-RESOURCES LTD 0.00 338
HENKEL AG & CO KGAA 0.03 7,633
HENKEL AG & CO KGAA VORZUG 0.05 13,371
HERBALIFE NUTRITION LTD 0.01 3,696
HERSHEY CO/THE 0.06 15,552
HORMEL FOODS CORP 0.03 8,941
HOUSE FOODS GROUP INC 0.01 1,572
ICA GRUPPEN AB 0.01 3,582
INGREDION INC 0.01 4,007
ITO EN LTD 0.01 1,551
JERONIMO MARTINS 0.01 4,030
JM SMUCKER CO/THE 0.04 10,463
KAGOME CO LTD 0.00 957
KAO CORP 0.11 29,374
KELLOGG CO 0.04 10,004
KERRY GROUP PLC-A 0.05 12,550
KESKO OYJ-B SHS 0.01 3,329
KEURIG DR PEPPER INC 0.02 4,922
KEWPIE CORP 0.00 1,097
KIMBERLY-CLARK CORP 0.14 37,729
KOBAYASHI PHARMACEUTICAL CO 0.02 4,831
KONINKLIJKE AHOLD DELHAIZE N 0.07 18,667
KOSE CORP 0.01 2,848
KRAFT HEINZ CO/THE 0.05 14,928
KROGER CO 0.05 13,235
L'OREAL 0.19 52,102
LAMB WESTON HOLDINGS INC 0.03 7,979
LAWSON INC 0.00 795
LEROY SEAFOOD GROUP ASA 0.01 1,484
LG HOUSEHOLD & HEALTH CARE 0.02 6,522
LG HOUSEHOLD & HEALTH-PREF 0.01 2,045
LION CORP 0.01 3,745
LOBLAW COMPANIES LTD 0.02 6,727
MATSUMOTOKIYOSHI HOLDINGS CO 0.00 994
MCCORMICK & CO-NON VTG SHRS 0.05 14,890
MEIJI HOLDINGS CO LTD 0.03 7,018
METRO AG 0.01 1,622
METRO INC/CN 0.03 7,084
MONDELEZ INTERNATIONAL INC-A 0.22 60,772
MONSTER BEVERAGE CORP 0.07 19,413
MORINAGA & CO LTD 0.01 1,620
MORINAGA MILK INDUSTRY CO 0.01 2,643
MOWI ASA 0.03 8,746
NESTLE SA-REG 0.88 240,093
NH FOODS LTD 0.01 2,493
NICHIREI CORP 0.00 1,182
NISSHIN SEIFUN GROUP INC 0.02 4,923
NISSIN FOODS HOLDINGS CO LTD 0.01 3,168
NOEVIR HOLDING CO 0.01 1,830
NONGSHIM CO LTD 0.01 1,365
ORION CORP/REPUBLIC OF KOREA 0.00 1,078
ORKLA ASA 0.02 4,469
OTTOGI CORPORATION 0.00 1,111
PEPSICO INC 0.54 146,038
PIGEON CORP 0.01 3,805
POLA ORBIS HOLDINGS INC 0.01 2,578
PROCTER & GAMBLE CO/THE 0.79 215,237
RECKITT BENCKISER GROUP PLC 0.14 37,454
SAINSBURY (J) PLC 0.01 3,873
SALMAR ASA 0.01 1,509
SAPUTO INC 0.02 5,897
SEVEN & I HOLDINGS CO LTD 0.08 21,934
SHISEIDO CO LTD 0.09 23,318
SHUFERSAL LTD 0.00 1,253
SUGI HOLDINGS CO LTD 0.00 1,156
SUN ART RETAIL GROUP LTD 0.00 1,051
SUNDRUG CO LTD 0.00 1,134
SUNTORY BEVERAGE & FOOD LTD 0.01 3,930
SYSCO CORP 0.09 25,302
TATE & LYLE PLC 0.01 3,713
TESCO PLC 0.08 22,211
TINGYI (CAYMAN ISLN) HLDG CO 0.01 1,371
TOYO SUISAN KAISHA LTD 0.02 4,736
TSURUHA HOLDINGS INC 0.01 1,522
TYSON FOODS INC-CL A 0.07 18,259
UNICHARM CORP 0.03 8,552
UNILEVER PLC 0.20 54,511
VITASOY INTL HOLDINGS LTD 0.01 2,369
WALGREENS BOOTS ALLIANCE INC 0.13 35,530
WALMART INC 0.45 122,232
WELCIA HOLDINGS CO LTD 0.00 1,005
WESTON (GEORGE) LTD 0.02 5,116
WH GROUP LTD 0.03 7,704
WILMAR INTERNATIONAL LTD 0.02 5,239
WM MORRISON SUPERMARKETS 0.02 4,844
YAKULT HONSHA CO LTD 0.02 5,917
YAMAZAKI BAKING CO LTD 0.00 1,013
1.55 420,683
BAKER HUGHES A GE CO 0.03 9,163
CHENIERE ENERGY INC 0.05 12,761
ENAGAS SA 0.02 5,606
ENBRIDGE INC 0.21 57,066
EQUITRANS MIDSTREAM CORP 0.02 4,180
GS HOLDINGS 0.00 1,168
HALLIBURTON CO 0.06 16,976
HELMERICH & PAYNE 0.01 3,790
INTER PIPELINE LTD 0.02 4,343
KINDER MORGAN INC 0.12 32,799
MARATHON PETROLEUM CORP 0.10 28,159
NATIONAL OILWELL VARCO INC 0.02 6,246
ONEOK INC 0.08 21,584
PAZ OIL CO LTD 0.00 1,198
PEMBINA PIPELINE CORP 0.05 13,985
PHILLIPS 66 0.12 31,484
S-OIL CORP 0.01 3,054
SAIPEM SPA 0.00 1,193
SCHLUMBERGER LTD 0.16 44,133
SNAM SPA 0.03 8,175
SUBSEA 7 SA 0.01 3,290
TARGA RESOURCES CORP 0.02 6,353
TC ENERGY CORP 0.13 35,187
TECHNIPFMC PLC 0.03 8,329
TENARIS SA 0.02 4,754
VALERO ENERGY CORP 0.10 27,148
VOPAK 0.00 1,284
WILLIAMS COS INC 0.10 27,275
3I GROUP PLC 0.04 10,785
77 BANK LTD/THE 0.00 852
ABN AMRO GROUP NV-CVA 0.03 6,922
ACKERMANS & VAN HAAREN 0.01 3,520
ACOM CO LTD 0.00 209
ADMIRAL GROUP PLC 0.02 5,427
AEGON NV 0.02 6,390
AEON FINANCIAL SERVICE CO LT 0.01 1,870
AFFILIATED MANAGERS GROUP 0.01 3,576
AFLAC INC 0.12 32,145
AGEAS 0.03 7,774
AGNC INVESTMENT CORP 0.02 6,720
AIA GROUP LTD 0.38 102,421
AIB GROUP PLC 0.01 1,679
ALLEGHANY CORP 0.02 6,669
ALLIANZ SE-REG 0.30 80,503
ALLSTATE CORP 0.10 26,043
ALLY FINANCIAL INC 0.03 8,982
AMERICAN EXPRESS CO 0.23 63,459
AMERICAN INTERNATIONAL GROUP 0.14 37,171
AMERIPRISE FINANCIAL INC 0.06 15,232
AMUNDI SA 0.01 3,312
ANNALY CAPITAL MANAGEMENT IN 0.03 9,212
AON PLC 0.14 37,517
AOZORA BANK LTD 0.01 1,399
ARCH CAPITAL GROUP LTD 0.04 10,875
ARTHUR J GALLAGHER & CO 0.04 11,721
ASHMORE GROUP PLC 0.01 1,841
ASR NEDERLAND NV 0.01 3,276
ASSICURAZIONI GENERALI 0.07 19,829
ASSURANT INC 0.02 4,755
AVIVA PLC 0.06 15,544
AXA EQUITABLE HOLDINGS INC 0.02 4,156
AXA SA 0.14 39,271
AXIS CAPITAL HOLDINGS LTD 0.01 2,866
BALOISE HOLDING AG - REG 0.03 7,258
BANCA MEDIOLANUM SPA 0.00 1,310
BANCO BILBAO VIZCAYA ARGENTA 0.11 29,804
BANCO BPM SPA 0.01 3,044
BANCO DE SABADELL SA 0.02 4,375
BANCO SANTANDER SA 0.22 60,069
BANK HAPOALIM BM 0.02 5,685
BANK LEUMI LE-ISRAEL 0.03 9,330
BANK OF AMERICA CORP 0.76 206,658
BANK OF EAST ASIA LTD 0.01 3,952
BANK OF IRELAND GROUP PLC 0.01 3,679
BANK OF KYOTO LTD/THE 0.00 1,299
BANK OF MONTREAL 0.14 38,283
BANK OF NEW YORK MELLON CORP 0.12 31,955
BANK OF NOVA SCOTIA 0.19 52,340
BANK PEKAO SA 0.02 4,286
BANKIA SA 0.01 3,421
BANKINTER SA 0.02 4,133
BANQUE CANTONALE VAUDOIS-REG 0.00 1,337
BARCLAYS PLC 0.10 26,911
BB&T CORP 0.11 29,574
BERKSHIRE HATHAWAY INC-CL A 0.29 79,324
BERKSHIRE HATHAWAY INC-CL B 0.86 234,752
BLACKROCK INC 0.17 44,957
BNK FINANCIAL GROUP INC 0.00 1,110
BNP PARIBAS 0.15 41,256
BOC HONG KONG HOLDINGS LTD 0.04 10,671
BROWN & BROWN INC 0.02 4,942
CAIXABANK SA 0.03 8,716
CAN IMPERIAL BK OF COMMERCE 0.10 26,584
CAPITAL ONE FINANCIAL CORP 0.13 34,385
CBOE GLOBAL MARKETS INC 0.04 9,748
CHIBA BANK LTD/THE 0.01 3,741
CHUBB LTD 0.20 53,809
CHUGOKU BANK LTD/THE 0.00 1,117
CINCINNATI FINANCIAL CORP 0.05 12,999
CIT GROUP INC 0.02 4,406
CITIGROUP INC 0.48 131,143
CITIZENS FINANCIAL GROUP 0.05 13,472
CME GROUP INC 0.20 55,385
CNA FINANCIAL CORP 0.01 1,413
CNP ASSURANCES 0.01 1,741
COMERICA INC 0.04 10,012
COMMERCE BANCSHARES INC 0.02 4,252
COMMERZBANK AG 0.02 5,206
CONCORDIA FINANCIAL GROUP LT 0.02 4,822
CREDIT AGRICOLE SA 0.04 12,201
CREDIT SAISON CO LTD 0.00 876
CREDIT SUISSE GROUP AG-REG 0.09 24,104
CYBG PLC 0.01 1,561
DAI-ICHI LIFE HOLDINGS INC 0.05 12,813
DAISHI HOKUETSU FINANCIAL GR 0.00 868
DAIWA SECURITIES GROUP INC 0.02 6,139
DANSKE BANK A/S 0.03 9,091
DB INSURANCE CO LTD 0.00 1,093
DBS GROUP HOLDINGS LTD 0.10 27,585
DEUTSCHE BANK AG-REGISTERED 0.04 11,601
DEUTSCHE BOERSE AG 0.08 20,577
DIRECT LINE INSURANCE GROUP 0.01 3,295
DISCOVER FINANCIAL SERVICES 0.07 19,853
DNB ASA 0.06 16,039
E*TRADE FINANCIAL CORP 0.03 8,169
ERSTE GROUP BANK AG 0.03 9,311
EURAZEO SE 0.01 3,475
EVEREST RE GROUP LTD 0.03 8,088
EXOR NV 0.02 4,904
FAIRFAX FINANCIAL HLDGS LTD 0.04 10,842
FIDELITY NATIONAL FINANCIAL 0.03 9,291
FIFTH THIRD BANCORP 0.07 18,081
FINECOBANK SPA 0.02 5,621
FIRST INTL BANK ISRAEL 0.01 3,443
FIRST REPUBLIC BANK/CA 0.05 12,597
FRANKLIN RESOURCES INC 0.03 7,661
FUKUOKA FINANCIAL GROUP INC 0.01 1,505
FUYO GENERAL LEASE CO LTD 0.01 1,393
GJENSIDIGE FORSIKRING ASA 0.01 2,579
GOLDMAN SACHS GROUP INC 0.21 57,140
GREAT-WEST LIFECO INC 0.02 5,755
GRENKE AG 0.01 3,221
GROUPE BRUXELLES LAMBERT SA 0.02 6,682
GUNMA BANK LTD/THE 0.00 915
HACHIJUNI BANK LTD/THE 0.00 1,181
HANA FINANCIAL GROUP 0.03 8,145
HANG SENG BANK LTD 0.06 15,341
HANNOVER RUECK SE 0.03 7,185
HARGREAVES LANSDOWN PLC 0.02 4,657
HARTFORD FINANCIAL SVCS GRP 0.05 14,598
HELVETIA HOLDING AG-REG 0.01 4,045
HIROSHIMA BANK LTD/THE 0.00 933
HISCOX LTD 0.02 4,368
HITACHI CAPITAL CORP 0.00 1,106
HOKUHOKU FINANCIAL GROUP INC 0.00 960
HONG KONG EXCHANGES & CLEAR 0.12 33,354
HSBC HOLDINGS PLC 0.48 130,593
HUNTINGTON BANCSHARES INC 0.04 11,448
HYUNDAI MARINE & FIRE INS CO 0.00 924
IGM FINANCIAL INC 0.01 2,682
INDUSTRIAL BANK OF KOREA 0.01 3,392
INDUSTRIVARDEN AB-A SHS 0.02 4,818
INDUSTRIVARDEN AB-C SHS 0.01 1,883
ING GROEP NV 0.13 34,305
INTACT FINANCIAL CORP 0.04 10,806
INTERCONTINENTAL EXCHANGE IN 0.14 37,179
INTESA SANPAOLO 0.09 24,078
INVESCO LTD 0.03 7,025
INVESTEC PLC 0.01 3,941
INVESTOR AB-A SHS 0.02 6,544
INVESTOR AB-B SHS 0.06 15,070
ISRAEL DISCOUNT BANK-A 0.02 4,545
IYO BANK LTD/THE 0.00 1,012
JANUS HENDERSON GROUP PLC 0.01 3,499
JAPAN EXCHANGE GROUP INC 0.03 7,425
JAPAN POST BANK CO LTD 0.02 4,551
JAPAN POST HOLDINGS CO LTD 0.04 11,485
JAPAN POST INSURANCE CO LTD 0.01 2,124
JEFFERIES FINANCIAL GROUP IN 0.02 4,468
JPMORGAN CHASE & CO 1.08 293,425
JULIUS BAER GROUP LTD 0.03 7,391
JYSKE BANK-REG 0.00 853
KB FINANCIAL GROUP INC 0.05 12,510
KBC GROUP NV 0.06 15,222
KEYCORP 0.05 13,212
KINNEVIK AB - B 0.02 5,179
KOREA INVESTMENT HOLDINGS CO 0.01 1,444
KYUSHU FINANCIAL GROUP INC 0.00 1,054
LEGAL & GENERAL GROUP PLC 0.06 16,282
LINCOLN NATIONAL CORP 0.04 11,480
LLOYDS BANKING GROUP PLC 0.15 41,093
LONDON STOCK EXCHANGE GROUP 0.07 18,199
LUNDBERGS AB-B SHS 0.00 744
M & T BANK CORP 0.07 18,202
MANULIFE FINANCIAL CORP 0.11 28,555
MAPFRE SA 0.01 3,113
MARKEL CORP 0.05 12,432
MARSH & MCLENNAN COS 0.15 40,800
MBANK SA 0.01 1,422
MEBUKI FINANCIAL GROUP INC 0.01 1,958
MEDIOBANCA SPA 0.02 5,681
METLIFE INC 0.12 33,037
MIRAE ASSET DAEWOO CO LTD 0.01 3,715
MITSUBISHI UFJ FINANCIAL GRO 0.17 47,351
MITSUBISHI UFJ LEASE & FINAN 0.01 1,496
MIZRAHI TEFAHOT BANK LTD 0.01 2,361
MIZUHO FINANCIAL GROUP INC 0.11 30,134
MOODY'S CORP 0.10 26,528
MORGAN STANLEY 0.16 43,906
MS&AD INSURANCE GROUP HOLDIN 0.05 12,729
MSCI INC 0.06 15,512
MUENCHENER RUECKVER AG-REG 0.11 30,110
NASDAQ INC 0.04 9,937
NATIONAL BANK OF CANADA 0.05 12,822
NATIXIS 0.01 3,124
NEW YORK COMMUNITY BANCORP 0.01 3,003
NH INVESTMENT & SECURITIES C 0.01 2,338
NISHI-NIPPON FINANCIAL HOLDI 0.00 851
NN GROUP NV 0.04 10,232
NOMURA HOLDINGS INC 0.04 10,150
NORDEA BANK ABP 0.07 17,677
NORTH PACIFIC BANK LTD 0.00 979
NORTHERN TRUST CORP 0.05 13,674
OLD REPUBLIC INTL CORP 0.02 4,538
ORIX CORP 0.05 14,559
OVERSEA-CHINESE BANKING CORP 0.08 22,208
PARGESA HOLDING SA-BR 0.00 1,310
PARTNERS GROUP HOLDING AG 0.04 9,713
PEOPLE'S UNITED FINANCIAL 0.02 5,086
PHOENIX GROUP HOLDINGS PLC 0.01 3,156
PKO BANK POLSKI SA 0.02 6,658
PNC FINANCIAL SERVICES GROUP 0.18 48,873
POSTE ITALIANE SPA 0.02 4,558
POWER FINANCIAL CORP 0.01 3,966
POWSZECHNY ZAKLAD UBEZPIECZE 0.01 3,736
PRINCIPAL FINANCIAL GROUP 0.04 11,463
PROGRESSIVE CORP 0.13 36,559
PRUDENTIAL FINANCIAL INC 0.12 33,972
PRUDENTIAL PLC 0.16 43,954
QUILTER PLC 0.01 3,306
RAIFFEISEN BANK INTERNATIONA 0.01 3,382
RAYMOND JAMES FINANCIAL INC 0.03 7,779
REGIONS FINANCIAL CORP 0.05 12,842
RENAISSANCERE HOLDINGS LTD 0.02 6,337
RESONA HOLDINGS INC 0.03 7,981
ROYAL BANK OF CANADA 0.33 88,741
ROYAL BANK OF SCOTLAND GROUP 0.03 9,502
RSA INSURANCE GROUP PLC 0.02 6,308
S&P GLOBAL INC 0.16 44,691
SAMPO OYJ-A SHS 0.07 18,873
SAMSUNG FIRE & MARINE INS 0.02 6,256
SAMSUNG LIFE INSURANCE CO LT 0.01 3,828
SAMSUNG SECURITIES CO LTD 0.01 1,488
SANTANDER BANK POLSKA SA 0.00 1,315
SANTANDER CONSUMER USA HOLDI 0.01 1,478
SBI HOLDINGS INC 0.02 5,317
SCHRODERS PLC 0.02 4,611
SCHWAB (CHARLES) CORP 0.14 38,609
SCOR SE 0.02 5,662
SEI INVESTMENTS COMPANY 0.02 5,982
SEVEN BANK LTD 0.01 2,447
SHINHAN FINANCIAL GROUP LTD 0.05 13,279
SHINSEI BANK LTD 0.01 3,207
SHIZUOKA BANK LTD/THE 0.02 4,152
SINGAPORE EXCHANGE LTD 0.01 4,062
SKANDINAVISKA ENSKILDA BAN-A 0.03 7,918
SKANDINAVISKA ENSKILDA BAN-C 0.01 3,246
SOCIETE GENERALE SA 0.05 14,943
SOFINA 0.00 1,218
SOMPO HOLDINGS INC 0.04 12,080
SONY FINANCIAL HOLDINGS INC 0.01 3,630
ST JAMES'S PLACE PLC 0.02 5,720
STANDARD CHARTERED PLC 0.07 19,150
STANDARD LIFE ABERDEEN PLC 0.03 6,976
STATE STREET CORP 0.07 17,909
SUMITOMO MITSUI FINANCIAL GR 0.14 37,023
SUMITOMO MITSUI TRUST HOLDIN 0.04 10,596
SUN LIFE FINANCIAL INC 0.07 20,188
SUNTRUST BANKS INC 0.08 22,961
SVB FINANCIAL GROUP 0.04 10,552
SVENSKA HANDELSBANKEN-A SHS 0.04 12,123
SWEDBANK AB - A SHARES 0.05 12,558
SWISS LIFE HOLDING AG-REG 0.05 12,376
SWISS RE AG 0.09 23,864
SYNCHRONY FINANCIAL 0.07 19,305
T ROWE PRICE GROUP INC 0.07 20,141
T&D HOLDINGS INC 0.02 5,197
TALANX AG 0.01 2,406
TD AMERITRADE HOLDING CORP 0.04 10,925
TOKAI TOKYO FINANCIAL HOLDIN 0.01 1,590
TOKIO MARINE HOLDINGS INC 0.10 27,811
TOKYO CENTURY CORP 0.00 1,071
TORCHMARK CORP 0.02 6,529
TORONTO-DOMINION BANK 0.31 84,067
TRAVELERS COS INC/THE 0.12 32,271
TRYG A/S 0.01 2,425
UBI BANCA SPA 0.01 2,924
UBS GROUP AG-REG 0.12 32,293
UNICREDIT SPA 0.08 21,542
UNIPOLSAI ASSICURAZIONI SPA 0.01 3,117
UNITED OVERSEAS BANK LTD 0.07 19,526
UNUM GROUP 0.02 5,975
US BANCORP 0.23 62,891
VIENNA INSURANCE GROUP AG 0.01 3,438
VOYA FINANCIAL INC 0.02 5,866
WELLS FARGO & CO 0.56 152,921
WENDEL 0.01 3,982
WILLIS TOWERS WATSON PLC 0.07 19,073
WOORI FINANCIAL GROUP INC 0.02 5,663
WR BERKLEY CORP 0.03 7,340
YAMAGUCHI FINANCIAL GROUP IN 0.00 1,036
ZENKOKU HOSHO CO LTD 0.00 1,277
ZIONS BANCORP NA 0.02 6,783
ZURICH INSURANCE GROUP AG 0.15 41,455
ABBOTT LABORATORIES 0.41 111,811
ABBVIE INC 0.32 87,974
ABIOMED INC 0.03 8,579
AGILENT TECHNOLOGIES INC 0.07 19,706
ALCON INC 0.07 20,292
ALEXION PHARMACEUTICALS INC 0.09 23,244
ALFRESA HOLDINGS CORP 0.02 4,151
ALIGN TECHNOLOGY INC 0.07 17,902
ALKERMES PLC 0.01 3,740
ALLERGAN PLC 0.16 43,176
ALNYLAM PHARMACEUTICALS INC 0.02 4,999
AMBU A/S-B 0.01 2,027
AMERISOURCEBERGEN CORP 0.03 9,261
AMGEN INC 0.34 91,588
ANTHEM INC 0.21 58,117
ASAHI INTECC CO LTD 0.02 4,099
ASTELLAS PHARMA INC 0.08 22,249
ASTRAZENECA PLC 0.31 84,497
BAUSCH HEALTH COS INC 0.03 7,007
BAXTER INTERNATIONAL INC 0.12 31,398
BAYER AG-REG 0.18 49,884
BECTON DICKINSON AND CO 0.19 51,929
BIOGEN INC 0.14 37,496
BIOMARIN PHARMACEUTICAL INC 0.04 11,207
BIOMERIEUX 0.01 3,387
BOSTON SCIENTIFIC CORP 0.18 47,615
BRISTOL-MYERS SQUIBB CO 0.22 59,443
CARDINAL HEALTH INC 0.04 10,957
CARL ZEISS MEDITEC AG - BR 0.01 2,871
CELGENE CORP 0.19 52,340
CELLTRION HEALTHCARE CO LTD 0.01 2,276
CELLTRION INC 0.04 10,118
CENTENE CORP 0.06 16,412
CERNER CORP 0.07 18,184
CHUGAI PHARMACEUTICAL CO LTD 0.04 10,893
CIGNA CORP 0.17 46,498
COLOPLAST-B 0.04 11,279
CONVATEC GROUP PLC 0.01 1,438
COOPER COS INC/THE 0.05 12,934
COVETRUS INC 0.00 663
CVS HEALTH CORP 0.20 55,718
DAIICHI SANKYO CO LTD 0.10 28,125
DANAHER CORP 0.26 69,638
DAVITA INC 0.02 4,899
DEMANT A/S 0.01 1,655
DENTSPLY SIRONA INC 0.03 9,468
DEXCOM INC 0.04 10,215
DIASORIN SPA 0.01 2,106
EDWARDS LIFESCIENCES CORP 0.11 30,718
EISAI CO LTD 0.04 11,881
ELANCO ANIMAL HEALTH INC 0.04 9,820
ELEKTA AB-B SHS 0.02 4,947
ELI LILLY & CO 0.29 77,993
EUROFINS SCIENTIFIC 0.02 4,489
FISHER & PAYKEL HEALTHCARE C 0.02 4,988
FRESENIUS MEDICAL CARE AG & 0.05 12,954
FRESENIUS SE & CO KGAA 0.06 17,022
GALAPAGOS NV 0.02 4,628
GENMAB A/S 0.03 8,591
GILEAD SCIENCES INC 0.25 66,836
GLAXOSMITHKLINE PLC 0.28 77,122
GN STORE NORD A/S 0.02 4,901
GRIFOLS SA 0.02 6,093
GRIFOLS SA - B 0.02 5,447
H LUNDBECK A/S 0.01 1,675
HANMI PHARM CO LTD 0.00 1,097
HANMI SCIENCE CO LTD 0.00 817
HCA HEALTHCARE INC 0.11 29,448
HELIXMITH CO LTD 0.01 1,668
HENRY SCHEIN INC 0.03 9,422
HIKMA PHARMACEUTICALS PLC 0.01 3,276
HISAMITSU PHARMACEUTICAL CO 0.00 1,352
HOLOGIC INC 0.04 10,006
HOYA CORP 0.08 21,342
HUMANA INC 0.10 28,085
IDEXX LABORATORIES INC 0.07 20,187
ILLUMINA INC 0.16 43,611
INCYTE CORP 0.04 11,868
INTUITIVE SURGICAL INC 0.17 46,446
IPSEN 0.01 2,540
IQVIA HOLDINGS INC 0.08 22,643
JAZZ PHARMACEUTICALS PLC 0.02 6,310
JOHNSON & JOHNSON 1.08 293,094
KAKEN PHARMACEUTICAL CO LTD 0.00 1,204
KONINKLIJKE PHILIPS NV 0.12 32,893
KYOWA HAKKO KIRIN CO LTD 0.01 2,679
LABORATORY CRP OF AMER HLDGS 0.05 12,942
LONZA GROUP AG-REG 0.08 20,409
M3 INC 0.02 5,148
MCKESSON CORP 0.07 20,161
MEDICLINIC INTERNATIONAL PLC 0.00 326
MEDIPAL HOLDINGS CORP 0.01 4,050
MEDTRONIC PLC 0.38 104,005
MEDY-TOX INC 0.01 1,451
MERCK & CO. INC. 0.64 172,845
MERCK KGAA 0.04 10,668
METTLER-TOLEDO INTERNATIONAL 0.06 15,262
MITSUBISHI TANABE PHARMA 0.01 2,925
MYLAN NV 0.03 7,683
NIHON KOHDEN CORP 0.00 1,126
NIPPON SHINYAKU CO LTD 0.02 4,227
NIPRO CORP 0.00 1,106
NMC HEALTH PLC 0.00 1,217
NOVARTIS AG-REG 0.57 155,903
NOVO NORDISK A/S-B 0.25 67,012
OLYMPUS CORP 0.04 10,516
ONO PHARMACEUTICAL CO LTD 0.02 6,538
ORION OYJ-CLASS B 0.01 1,845
ORPEA 0.01 3,955
OTSUKA HOLDINGS CO LTD 0.04 10,911
PEPTIDREAM INC 0.01 3,891
PERRIGO CO PLC 0.02 4,613
PFIZER INC 0.72 196,753
QIAGEN N.V. 0.03 7,004
QUEST DIAGNOSTICS INC 0.04 11,363
RECORDATI SPA 0.01 3,122
REGENERON PHARMACEUTICALS 0.07 19,220
RESMED INC 0.05 13,147
ROCHE HOLDING AG-BR 0.05 13,651
ROCHE HOLDING AG-GENUSSCHEIN 0.54 145,544
ROHTO PHARMACEUTICAL CO LTD 0.00 1,153
RYMAN HEALTHCARE LTD 0.01 1,475
SAMSUNG BIOLOGICS CO LTD 0.01 3,118
SANOFI 0.27 74,615
SANTEN PHARMACEUTICAL CO LTD 0.02 5,492
SARTORIUS AG-VORZUG 0.02 4,233
SARTORIUS STEDIM BIOTECH 0.02 4,150
SAWAI PHARMACEUTICAL CO LTD 0.00 1,359
SHIONOGI & CO LTD 0.05 12,934
SIEMENS HEALTHINEERS AG 0.01 3,756
SILLAJEN INC 0.00 956
SMITH & NEPHEW PLC 0.05 14,077
SONOVA HOLDING AG-REG 0.04 9,542
STRAUMANN HOLDING AG-REG 0.02 6,560
STRYKER CORP 0.21 56,067
SUMITOMO DAINIPPON PHARMA CO 0.01 1,937
SUZUKEN CO LTD 0.01 3,932
SWEDISH ORPHAN BIOVITRUM AB 0.02 4,118
SYSMEX CORP 0.04 10,517
TAISHO PHARMACEUTICAL HOLDIN 0.01 3,966
TAKEDA PHARMACEUTICAL CO LTD 0.15 41,380
TELEFLEX INC 0.05 12,887
TERUMO CORP 0.06 16,316
TEVA PHARMACEUTICAL IND LTD 0.03 7,559
THERMO FISHER SCIENTIFIC INC 0.34 92,913
TSUMURA & CO 0.00 1,166
UCB SA 0.03 9,200
UNITEDHEALTH GROUP INC 0.67 181,612
UNIVERSAL HEALTH SERVICES-B 0.03 9,490
VARIAN MEDICAL SYSTEMS INC 0.04 10,359
VEEVA SYSTEMS INC-CLASS A 0.06 15,956
VERTEX PHARMACEUTICALS INC 0.14 37,365
VIFOR PHARMA AG 0.02 4,922
WATERS CORP 0.04 12,119
WELLCARE HEALTH PLANS INC 0.04 9,925
YUHAN CORP 0.01 1,391
ZIMMER BIOMET HOLDINGS INC 0.07 20,019
ZOETIS INC 0.16 43,958
ACUITY BRANDS INC 0.02 4,820
ADECCO GROUP AG-REG 0.03 6,950
ADP 0.02 5,106
AENA SME SA 0.04 10,788
AERCAP HOLDINGS NV 0.02 5,320
AGC INC 0.02 5,455
AICA KOGYO CO LTD 0.00 1,130
AIR FRANCE-KLM 0.00 1,134
ALASKA AIR GROUP INC 0.00 1,241
ALLEGION PLC 0.03 7,971
ALSTOM 0.02 5,314
AMADA HOLDINGS CO LTD 0.01 3,308
AMERICAN AIRLINES GROUP INC 0.01 3,628
ANA HOLDINGS INC 0.02 4,114
ANDRITZ AG 0.01 1,467
ARCONIC INC 0.03 8,048
ASHTEAD GROUP PLC 0.04 9,601
ASSA ABLOY AB-B 0.06 15,440
ATLANTIA SPA 0.04 10,795
ATLAS COPCO AB-A SHS 0.05 14,445
ATLAS COPCO AB-B SHS 0.04 10,462
AUCKLAND INTL AIRPORT LTD 0.02 4,320
BENEFIT ONE INC 0.01 1,450
BOC AVIATION LTD 0.01 1,449
BOSKALIS WESTMINSTER 0.00 998
BRENNTAG AG 0.02 5,155
BUNZL PLC 0.03 6,926
C.H. ROBINSON WORLDWIDE INC 0.03 7,973
CANADIAN NATL RAILWAY CO 0.20 53,866
CANADIAN PACIFIC RAILWAY LTD 0.09 25,335
CATERPILLAR INC 0.23 62,019
CENTRAL JAPAN RAILWAY CO 0.10 27,860
CINTAS CORP 0.06 17,153
CJ CORP 0.00 917
CNH INDUSTRIAL NV 0.03 8,869
COMFORTDELGRO CORP LTD 0.02 4,274
COMSYS HOLDINGS CORP 0.00 1,257
COPART INC 0.05 12,966
COSTAR GROUP INC 0.06 16,406
CSX CORP 0.17 46,895
CUMMINS INC 0.07 19,642
DAI NIPPON PRINTING CO LTD 0.02 6,045
DAIFUKU CO LTD 0.02 5,626
DCC PLC 0.03 6,955
DEERE & CO 0.15 42,129
DELTA AIR LINES INC 0.02 6,742
DEUTSCHE LUFTHANSA-REG 0.01 3,432
DEUTSCHE POST AG-REG 0.09 25,674
DKSH HOLDING AG 0.00 1,027
DMG MORI CO LTD 0.01 1,393
DOVER CORP 0.04 12,175
DSV A/S 0.05 13,900
EAST JAPAN RAILWAY CO 0.10 26,372
EASYJET PLC 0.01 2,906
EDENRED 0.04 9,982
ELIS SA 0.01 3,474
EPIROC AB-A 0.02 6,380
EPIROC AB-B 0.01 1,360
EQUIFAX INC 0.04 12,131
EXPEDITORS INTL WASH INC 0.03 9,228
EXPERIAN PLC 0.08 21,381
FANUC CORP 0.10 28,498
FASTENAL CO 0.06 15,199
FEDEX CORP 0.12 31,493
FERGUSON PLC 0.05 12,607
FERROVIAL SA 0.03 9,002
FISCHER (GEORG)-REG 0.01 3,603
FLUGHAFEN ZURICH AG-REG 0.01 3,986
FORTIVE CORP 0.07 18,577
FORTUNE BRANDS HOME & SECURI 0.03 7,339
FRAPORT AG FRANKFURT AIRPORT 0.01 1,497
FUJIKURA LTD 0.00 862
FUKUYAMA TRANSPORTING CO LTD 0.01 3,359
FURUKAWA ELECTRIC CO LTD 0.00 1,231
G4S PLC 0.02 4,106
GEA GROUP AG 0.01 3,470
GEBERIT AG-REG 0.05 12,797
GETLINK SE 0.02 5,150
GLORY LTD 0.01 2,432
GS YUASA CORP 0.00 976
HANKYU HANSHIN HOLDINGS INC 0.02 6,221
HAPAG-LLOYD AG 0.01 2,650
HDC HOLDINGS CO LTD 0.00 401
HDC HYUNDAI DEVELOPMENT CO-E 0.00 462
HINO MOTORS LTD 0.00 969
HITACHI TRANSPORT SYSTEM LTD 0.01 3,204
HOCHTIEF AG 0.00 1,240
HOSHIZAKI CORP 0.02 4,328
HOWDEN JOINERY GROUP PLC 0.01 3,575
HUNT (JB) TRANSPRT SVCS INC 0.02 5,127
HUTCHISON PORT HOLDINGS TR-U 0.00 1,279
HYUNDAI GLOVIS CO LTD 0.01 1,559
IHS MARKIT LTD 0.07 18,877
ILLINOIS TOOL WORKS 0.14 38,811
INGERSOLL-RAND PLC 0.09 24,696
INTL CONSOLIDATED AIRLINE-DI 0.01 2,811
INVESTMENT AB LATOUR-B SHS 0.01 2,090
ISS A/S 0.02 5,121
JAPAN AIRLINES CO LTD 0.01 2,394
JAPAN AIRPORT TERMINAL CO 0.01 2,528
JARDINE STRATEGIC HLDGS LTD 0.02 4,739
JOHNSON CONTROLS INTERNATION 0.11 28,979
JOHNSON ELECTRIC HOLDINGS 0.01 1,403
JTEKT CORP 0.00 1,233
KAJIMA CORP 0.02 4,925
KAMIGUMI CO LTD 0.01 2,717
KANSAS CITY SOUTHERN 0.04 9,940
KAWASAKI KISEN KAISHA LTD 0.00 937
KCC CORP 0.00 1,018
KEIHAN HOLDINGS CO LTD 0.01 2,512
KEIKYU CORP 0.01 3,430
KEIO CORP 0.02 5,447
KEISEI ELECTRIC RAILWAY CO 0.02 4,806
KEPPEL CORP LTD 0.02 6,516
KINDEN CORP 0.00 1,283
KINGSPAN GROUP PLC 0.02 6,097
KINTETSU GROUP HOLDINGS CO L 0.02 6,348
KION GROUP AG 0.02 4,176
KONE OYJ-B 0.06 16,576
KOREAN AIR LINES CO LTD 0.00 1,281
KUBOTA CORP 0.05 13,890
KUEHNE + NAGEL INTL AG-REG 0.02 6,287
KURITA WATER INDUSTRIES LTD 0.01 1,458
KYOWA EXEO CORP 0.00 1,230
KYUDENKO CORP 0.00 1,261
KYUSHU RAILWAY COMPANY 0.02 5,090
LEGRAND SA 0.06 15,443
LG CORP 0.02 4,095
LIXIL GROUP CORP 0.01 3,499
LOTTE CORP 0.00 1,114
MABUCHI MOTOR CO LTD 0.00 1,168
MAEDA ROAD CONSTRUCTION CO 0.01 3,164
MAKITA CORP 0.02 5,765
MANPOWERGROUP INC 0.02 6,079
MASCO CORP 0.04 9,926
METSO OYJ 0.02 4,407
MINEBEA MITSUMI INC 0.02 5,594
MISUMI GROUP INC 0.02 6,190
MITSUBISHI LOGISTICS CORP 0.01 1,581
MITSUI OSK LINES LTD 0.01 2,259
MIURA CO LTD 0.01 1,534
MONOTARO CO LTD 0.00 1,228
MTR CORP 0.03 8,021
MTU AERO ENGINES AG 0.03 9,134
NABTESCO CORP 0.01 2,382
NAGASE & CO LTD 0.00 1,252
NAGOYA RAILROAD CO LTD 0.01 3,665
NANKAI ELECTRIC RAILWAY CO 0.01 1,406
NIBE INDUSTRIER AB-B SHS 0.02 4,402
NIDEC CORP 0.10 27,754
NIELSEN HOLDINGS PLC 0.02 6,608
NIHON M&A CENTER INC 0.01 3,286
NIPPON EXPRESS CO LTD 0.01 2,253
NIPPON YUSEN KK 0.01 2,829
NISHI-NIPPON RAILROAD CO LTD 0.00 1,065
NORFOLK SOUTHERN CORP 0.15 41,368
NSK LTD 0.01 3,853
NTN CORP 0.00 988
NVENT ELECTRIC PLC 0.01 3,542
NWS HOLDINGS LTD 0.01 3,716
OC OERLIKON CORP AG-REG 0.00 1,066
ODAKYU ELECTRIC RAILWAY CO 0.02 6,288
OKUMA CORP 0.00 1,343
OLD DOMINION FREIGHT LINE 0.03 7,011
OSG CORP 0.00 1,168
OSRAM LICHT AG 0.01 1,496
PACCAR INC 0.07 18,132
PARK24 CO LTD 0.01 3,434
PERSOL HOLDINGS CO LTD 0.01 3,919
RANDSTAD NV 0.01 3,993
RATIONAL AG 0.00 1,130
RECRUIT HOLDINGS CO LTD 0.11 30,548
RELX PLC 0.13 36,058
RENTOKIL INITIAL PLC 0.03 7,223
REPUBLIC SERVICES INC 0.06 15,458
REXEL SA 0.01 3,594
ROBERT HALF INTL INC 0.02 4,845
ROCKWELL AUTOMATION INC 0.06 16,323
ROCKWOOL INTL A/S-B SHS 0.00 788
ROLLINS INC 0.02 4,192
ROYAL MAIL PLC 0.00 1,276
S-1 CORPORATION 0.01 1,402
SAMSUNG ENGINEERING CO LTD 0.00 1,292
SAMSUNG HEAVY INDUSTRIES 0.01 1,425
SANKYU INC 0.00 1,306
SANWA HOLDINGS CORP 0.00 1,254
SATS LTD 0.01 1,601
SCHINDLER HOLDING AG-REG 0.01 1,708
SCHINDLER HOLDING-PART CERT 0.03 9,318
SECOM CO LTD 0.05 14,165
SECURITAS AB-B SHS 0.02 4,391
SEIBU HOLDINGS INC 0.01 3,601
SEINO HOLDINGS CO LTD 0.00 1,132
SEMBCORP INDUSTRIES LTD 0.00 511
SENSATA TECHNOLOGIES HOLDING 0.02 5,769
SG HOLDINGS CO LTD 0.02 5,644
SHO-BOND HOLDINGS CO LTD 0.01 2,951
SIGNIFY NV 0.01 1,360
SINGAPORE AIRLINES LTD 0.01 3,580
SKANSKA AB-B SHS 0.02 6,123
SKF AB-B SHARES 0.02 5,929
SMC CORP 0.07 19,111
SMITHS GROUP PLC 0.02 6,393
SNAP-ON INC 0.02 6,779
SOCIETE BIC SA 0.00 1,101
SOHGO SECURITY SERVICES CO 0.01 1,541
SOTETSU HOLDINGS INC 0.00 1,145
SOUTHWEST AIRLINES CO 0.02 5,767
SPIRAX-SARCO ENGINEERING PLC 0.03 7,063
STANLEY BLACK & DECKER INC 0.07 18,630
TECHNOPRO HOLDINGS INC 0.01 1,808
TECHTRONIC INDUSTRIES CO LTD 0.02 6,289
TELEPERFORMANCE 0.04 9,832
THK CO LTD 0.00 1,233
THOMSON REUTERS CORP 0.03 9,387
TOBU RAILWAY CO LTD 0.02 4,101
TODA CORP 0.01 2,076
TOKYU CORP 0.02 5,932
TOTO LTD 0.01 3,680
TRANSUNION 0.04 11,196
TRAVIS PERKINS PLC 0.01 3,367
TRELLEBORG AB-B SHS 0.01 3,156
UNION PACIFIC CORP 0.36 97,154
UNITED CONTINENTAL HOLDINGS 0.02 5,915
UNITED PARCEL SERVICE-CL B 0.20 54,838
USHIO INC 0.00 1,306
VERISK ANALYTICS INC 0.07 19,274
VESTAS WIND SYSTEMS A/S 0.05 12,527
VOLVO AB-B SHS 0.07 18,742
WABTEC CORP 0.03 9,433
WARTSILA OYJ ABP 0.02 4,645
WASTE CONNECTIONS INC 0.07 19,940
WASTE MANAGEMENT INC 0.14 37,690
WEST JAPAN RAILWAY CO 0.04 10,638
WOLTERS KLUWER 0.06 16,015
WW GRAINGER INC 0.04 9,553
XPO LOGISTICS INC 0.02 5,005
XYLEM INC 0.05 13,218
YAMATO HOLDINGS CO LTD 0.02 4,774
ZARDOYA OTIS SA 0.00 1,026
AAC TECHNOLOGIES HOLDINGS IN 0.01 3,148
ACCENTURE PLC-CL A 0.34 93,440
ADOBE INC 0.43 115,800
ADVANCED MICRO DEVICES 0.08 22,599
ADVANTEST CORP 0.02 4,301
ADYEN NV 0.02 6,381
AKAMAI TECHNOLOGIES INC 0.03 9,259
ALLIANCE DATA SYSTEMS CORP 0.02 5,560
ALPS ALPINE CO LTD 0.01 3,403
AMADEUS IT GROUP SA 0.09 25,055
AMDOCS LTD 0.03 7,336
ANALOG DEVICES INC 0.12 32,399
APPLE INC 2.76 749,282
APPLIED MATERIALS INC 0.12 33,920
ARISTA NETWORKS INC 0.04 11,424
ARROW ELECTRONICS INC 0.02 5,343
ASM PACIFIC TECHNOLOGY 0.01 1,598
ASML HOLDING NV 0.25 67,925
ATLASSIAN CORP PLC-CLASS A 0.04 11,909
AUTODESK INC 0.11 29,139
AUTOMATIC DATA PROCESSING 0.21 57,239
AVNET INC 0.01 3,600
AZBIL CORP 0.01 1,651
BROADCOM INC 0.35 96,265
BROADRIDGE FINANCIAL SOLUTIO 0.04 11,416
BROTHER INDUSTRIES LTD 0.01 3,807
CADENCE DESIGN SYS INC 0.06 15,554
CANON INC 0.09 23,179
CDK GLOBAL INC 0.01 3,917
CDW CORP/DE 0.05 13,915
CGI INC 0.06 15,890
CHECK POINT SOFTWARE TECH 0.04 9,928
CISCO SYSTEMS INC 0.71 194,133
CITIZEN WATCH CO LTD 0.00 986
CITRIX SYSTEMS INC 0.04 10,532
COGNIZANT TECH SOLUTIONS-A 0.11 28,603
CONSTELLATION SOFTWARE INC 0.05 13,853
CORNING INC 0.08 22,384
DELL TECHNOLOGIES -C 0.02 6,570
DISCO CORP 0.02 4,267
DXC TECHNOLOGY CO 0.04 11,398
ERICSSON LM-A SHS 0.02 5,346
ERICSSON LM-B SHS 0.06 17,213
F5 NETWORKS INC 0.02 6,632
FIDELITY NATIONAL INFO SERV 0.12 32,137
FISERV INC 0.10 28,001
FLEETCOR TECHNOLOGIES INC 0.07 17,705
FLEX LTD 0.02 4,491
FORTINET INC 0.03 8,149
FUJIFILM HOLDINGS CORP 0.05 14,196
FUJITSU LTD 0.04 11,439
GARTNER INC 0.04 12,155
GLOBAL PAYMENTS INC 0.08 20,914
GMO PAYMENT GATEWAY INC 0.01 3,400
GODADDY INC - CLASS A 0.04 10,232
HALMA PLC 0.03 7,394
HAMAMATSU PHOTONICS KK 0.02 4,881
HEWLETT PACKARD ENTERPRISE 0.06 17,588
HIROSE ELECTRIC CO LTD 0.02 5,680
HITACHI HIGH-TECHNOLOGIES CO 0.01 3,453
HP INC 0.09 25,766
IBIDEN CO LTD 0.01 1,888
INFINEON TECHNOLOGIES AG 0.06 15,998
INGENICO GROUP 0.02 4,296
INTEL CORP 0.62 168,895
INTL BUSINESS MACHINES CORP 0.37 99,446
INTUIT INC 0.19 52,465
ITOCHU TECHNO-SOLUTIONS CORP 0.01 1,501
JABIL INC 0.02 4,297
JAPAN AVIATION ELECTRONICS 0.00 1,248
JUNIPER NETWORKS INC 0.03 7,118
KEYENCE CORP 0.16 43,141
KEYSIGHT TECHNOLOGIES IN 0.05 12,668
KLA-TENCOR CORP 0.06 16,471
KONICA MINOLTA INC 0.02 4,213
KYOCERA CORP 0.06 16,837
LAM RESEARCH CORP 0.08 22,025
LENOVO GROUP LTD 0.01 3,563
LG DISPLAY CO LTD 0.01 3,296
LOGITECH INTERNATIONAL-REG 0.02 4,212
MARVELL TECHNOLOGY GROUP LTD 0.04 11,051
MASTERCARD INC - A 0.69 188,867
MAXIM INTEGRATED PRODUCTS 0.05 12,872
MICRO FOCUS INTERNATIONAL 0.03 8,147
MICROCHIP TECHNOLOGY INC 0.06 17,016
MICRON TECHNOLOGY INC 0.13 36,471
MICROSOFT CORP 2.96 805,231
MOTOROLA SOLUTIONS INC 0.08 20,965
MURATA MANUFACTURING CO LTD 0.08 21,965
NEC CORP 0.03 6,842
NETAPP INC 0.04 11,591
NICE LTD 0.03 6,800
NIHON UNISYS LTD 0.01 1,928
NIPPON ELECTRIC GLASS CO LTD 0.00 845
NOKIA OYJ 0.08 21,247
NOMURA RESEARCH INSTITUTE LT 0.02 4,883
NTT DATA CORP 0.02 6,428
NVIDIA CORP 0.28 76,496
NXP SEMICONDUCTORS NV 0.10 26,073
OBIC BUSINESS CONSULTANTS 0.01 1,505
OBIC CO LTD 0.03 7,495
OMRON CORP 0.03 7,492
ORACLE CORP 0.40 109,292
ORACLE CORP JAPAN 0.00 1,290
OTSUKA CORP 0.01 4,042
PALO ALTO NETWORKS INC 0.06 15,307
PAYCHEX INC 0.08 21,448
PAYPAL HOLDINGS INC 0.39 106,172
PTC INC 0.03 7,256
QORVO INC 0.02 6,100
QUALCOMM INC 0.27 73,926
RED HAT INC 0.09 25,406
RENESAS ELECTRONICS CORP 0.01 3,841
RENISHAW PLC 0.00 1,284
RICOH CO LTD 0.02 5,779
ROHM CO LTD 0.02 4,612
SAGE GROUP PLC/THE 0.04 10,053
SALESFORCE.COM INC 0.32 87,629
SAMSUNG ELECTRO-MECHANICS CO 0.02 4,633
SAMSUNG ELECTRONICS CO LTD 0.54 145,642
SAMSUNG ELECTRONICS-PREF 0.09 23,552
SAMSUNG SDI CO LTD 0.03 8,303
SAMSUNG SDS CO LTD 0.02 4,254
SAP SE 0.39 104,720
SCREEN HOLDINGS CO LTD 0.00 739
SCSK CORP 0.00 1,240
SEAGATE TECHNOLOGY 0.04 10,781
SEIKO EPSON CORP 0.01 2,480
SEMICONDUCTOR MANUFACTURING 0.01 3,660
SERVICENOW INC 0.14 38,550
SHIMADZU CORP 0.02 4,323
SHOPIFY INC - CLASS A 0.08 22,729
SK HYNIX INC 0.09 25,324
SKYWORKS SOLUTIONS INC 0.04 11,138
SPLUNK INC 0.06 15,518
SQUARE INC - A 0.06 16,256
SS&C TECHNOLOGIES HOLDINGS 0.04 10,357
STMICROELECTRONICS NV 0.03 7,961
SUMCO CORP 0.01 3,011
SYMANTEC CORP 0.04 10,467
SYNOPSYS INC 0.05 14,254
TAIYO YUDEN CO LTD 0.00 1,047
TDK CORP 0.02 6,766
TEMENOS AG - REG 0.03 7,665
TEXAS INSTRUMENTS INC 0.33 88,398
TIS INC 0.02 4,293
TOKYO ELECTRON LTD 0.06 16,822
TOPCON CORP 0.00 975
TOTAL SYSTEM SERVICES INC 0.07 17,743
TOWER SEMICONDUCTOR LTD 0.00 1,015
TREND MICRO INC 0.02 4,401
TRIMBLE INC 0.03 8,395
ULVAC INC 0.00 1,092
VENTURE CORP LTD 0.01 3,402
VERISIGN INC 0.06 16,561
VISA INC-CLASS A SHARES 0.88 238,674
VMWARE INC-CLASS A 0.03 8,445
VTECH HOLDINGS LTD 0.00 1,029
WESTERN DIGITAL CORP 0.04 11,736
WESTERN UNION CO 0.02 6,271
WIRECARD AG 0.06 16,228
WORKDAY INC-CLASS A 0.09 25,379
WORLDLINE SA 0.02 4,569
WORLDPAY INC-CLASS A 0.11 29,241
XEROX CORP 0.02 6,661
XILINX INC 0.09 24,188
XINYI SOLAR HOLDINGS LTD 0.00 1,134
YASKAWA ELECTRIC CORP 0.03 7,018
ACERINOX SA 0.00 920
AGNICO EAGLE MINES LTD 0.04 9,931
AIR LIQUIDE SA 0.17 45,228
AIR PRODUCTS & CHEMICALS INC 0.14 38,164
AIR WATER INC 0.01 1,400
AKZO NOBEL N.V. 0.06 17,213
ALBEMARLE CORP 0.02 5,409
ALCOA CORP 0.01 3,143
ANTOFAGASTA PLC 0.01 3,307
ARKEMA 0.02 5,908
ASAHI KASEI CORP 0.04 10,058
ASHLAND GLOBAL HOLDINGS INC 0.01 3,832
AVERY DENNISON CORP 0.03 8,290
BALL CORP 0.07 18,467
BARRICK GOLD CORP 0.08 21,628
BOLIDEN AB 0.02 5,697
BUZZI UNICEM SPA 0.00 1,206
CELANESE CORP 0.04 12,170
CF INDUSTRIES HOLDINGS INC 0.03 7,522
CHR HANSEN HOLDING A/S 0.02 6,711
CLARIANT AG-REG 0.01 3,097
CORTEVA INC 0.07 17,721
COVESTRO AG 0.02 6,782
CRH PLC 0.08 20,713
CRODA INTERNATIONAL PLC 0.03 7,529
DAICEL CORP 0.00 1,047
DAIDO STEEL CO LTD 0.00 946
DENKA CO LTD 0.00 1,259
DIC CORP 0.00 882
DOW INC 0.11 30,039
DOWA HOLDINGS CO LTD 0.01 2,674
DS SMITH PLC 0.02 6,033
DUPONT DE NEMOURS INC 0.17 45,269
EASTMAN CHEMICAL CO 0.04 9,599
ECOLAB INC 0.15 39,679
EMS-CHEMIE HOLDING AG-REG 0.02 4,765
EVONIK INDUSTRIES AG 0.02 4,304
FLETCHER BUILDING LTD 0.01 1,700
FMC CORP 0.04 10,081
FP CORP 0.01 2,545
FRESNILLO PLC 0.00 986
FUCHS PETROLUB SE 0.00 856
FUCHS PETROLUB SE -PREF 0.01 2,703
FUJI SEAL INTERNATIONAL INC 0.01 1,559
GIVAUDAN-REG 0.08 20,424
HANWHA CHEMICAL CORP 0.01 1,744
HEIDELBERGCEMENT AG 0.03 8,979
HITACHI CHEMICAL CO LTD 0.01 2,907
HITACHI METALS LTD 0.00 749
HUHTAMAKI OYJ 0.02 5,073
HYUNDAI STEEL CO 0.00 1,076
IMERYS SA 0.00 550
INTERNATIONAL PAPER CO 0.06 15,205
INTL FLAVORS & FRAGRANCES 0.04 11,668
ISRAEL CHEMICALS LTD 0.01 1,981
JOHNSON MATTHEY PLC 0.02 6,591
JSR CORP 0.01 2,656
K+S AG-REG 0.01 3,769
KANEKA CORP 0.00 630
KANSAI PAINT CO LTD 0.01 2,948
KGHM POLSKA MIEDZ SA 0.02 4,351
KONINKLIJKE DSM NV 0.06 15,947
KOREA ZINC CO LTD 0.01 3,775
KUMHO PETROCHEMICAL CO LTD 0.00 1,208
KURARAY CO LTD 0.01 3,969
LANXESS AG 0.01 3,307
LG CHEM LTD 0.03 6,973
LG CHEM LTD-PREFERENCE 0.02 4,682
LINDE PLC 0.32 87,996
LOTTE CHEMICAL CORP 0.01 3,249
LYONDELLBASELL INDU-CL A 0.07 20,064
MARTIN MARIETTA MATERIALS 0.04 10,644
MARUICHI STEEL TUBE LTD 0.00 460
MITSUBISHI CHEMICAL HOLDINGS 0.03 6,963
MITSUBISHI MATERIALS CORP 0.01 2,133
MITSUI CHEMICALS INC 0.01 3,932
MMG LTD 0.00 574
MONDI PLC 0.02 6,710
MOSAIC CO/THE 0.03 8,024
NEWMONT GOLDCORP CORP 0.10 26,584
NIPPON KAYAKU CO LTD 0.00 1,314
NIPPON PAINT HOLDINGS CO LTD 0.02 5,170
NIPPON PAPER INDUSTRIES CO L 0.00 1,314
NIPPON SHOKUBAI CO LTD 0.00 1,097
NISSAN CHEMICAL CORP 0.02 4,506
NITTO DENKO CORP 0.02 5,319
NORSK HYDRO ASA 0.01 4,030
NOVOZYMES A/S-B SHARES 0.03 8,440
NUCOR CORP 0.04 12,231
NUTRIEN LTD 0.09 25,638
OCI CO LTD 0.00 1,071
OCI NV 0.00 1,086
OJI HOLDINGS CORP 0.01 3,615
PACKAGING CORP OF AMERICA 0.03 7,919
POLYMETAL INTERNATIONAL PLC 0.01 1,873
POSCO 0.04 11,668
RENGO CO LTD 0.00 1,176
SEALED AIR CORP 0.02 5,600
SHERWIN-WILLIAMS CO/THE 0.11 30,775
SHIN-ETSU CHEMICAL CO LTD 0.11 29,734
SHOWA DENKO K K 0.01 3,398
SMURFIT KAPPA GROUP PLC 0.02 5,906
SOLVAY SA 0.02 5,067
STEEL DYNAMICS INC 0.02 4,668
STORA ENSO OYJ-R SHS 0.02 6,076
SUMITOMO CHEMICAL CO LTD 0.02 5,821
SUMITOMO METAL MINING CO LTD 0.02 5,906
SUMITOMO OSAKA CEMENT CO LTD 0.00 1,332
SVENSKA CELLULOSA AB SCA-B 0.02 5,569
SYMRISE AG 0.04 9,854
TAIHEIYO CEMENT CORP 0.01 2,496
TEIJIN LTD 0.01 1,422
TOKAI CARBON CO LTD 0.00 778
TOKUYAMA CORP 0.00 1,140
TORAY INDUSTRIES INC 0.03 8,120
TOYO SEIKAN GROUP HOLDINGS L 0.02 4,353
TOYOBO CO LTD 0.00 921
VULCAN MATERIALS CO 0.05 13,637
WACKER CHEMIE AG 0.00 682
WESTLAKE CHEMICAL CORP 0.00 1,029
WESTROCK CO 0.02 6,489
WHEATON PRECIOUS METALS CORP 0.03 9,427
YARA INTERNATIONAL ASA 0.02 6,116
ZEON CORP 0.01 1,385
AEON MALL CO LTD 0.00 878
ALEXANDRIA REAL ESTATE EQUIT 0.05 12,717
AMERICAN TOWER CORP 0.26 70,473
AROUNDTOWN SA 0.02 4,885
ASCENDAS REAL ESTATE INV TRT 0.02 4,995
AVALONBAY COMMUNITIES INC 0.08 21,210
AZRIELI GROUP LTD 0.00 806
BOSTON PROPERTIES INC 0.06 15,550
BRITISH LAND CO PLC 0.02 5,301
CAPITAL & COUNTIES PROPERTIE 0.00 1,044
CAPITALAND COMMERCIAL TRUST 0.01 2,023
CAPITALAND LTD 0.02 4,272
CAPITALAND MALL TRUST 0.01 3,093
CASTELLUM AB 0.01 3,307
CBRE GROUP INC - A 0.05 12,793
CHAMPION REIT 0.01 1,438
CITY DEVELOPMENTS LTD 0.01 3,574
CK ASSET HOLDINGS LTD 0.07 17,684
COVIVIO 0.02 4,381
CROWN CASTLE INTL CORP 0.15 41,640
DAITO TRUST CONSTRUCT CO LTD 0.02 6,436
DAIWA HOUSE INDUSTRY CO LTD 0.05 14,444
DERWENT LONDON PLC 0.01 3,797
DEUTSCHE WOHNEN SE 0.04 9,626
DIGITAL REALTY TRUST INC 0.07 18,641
DUKE REALTY CORP 0.03 8,345
EQUINIX INC 0.12 32,733
EQUITY RESIDENTIAL 0.07 20,287
ESSEX PROPERTY TRUST INC 0.05 14,422
EXTRA SPACE STORAGE INC 0.04 11,160
FASTIGHETS AB BALDER-B SHRS 0.01 1,544
FEDERAL REALTY INVS TRUST 0.03 8,249
GECINA SA 0.03 6,838
GREAT EAGLE HOLDINGS LTD 0.00 1,054
HAMMERSON PLC 0.01 1,494
HANG LUNG GROUP LTD 0.01 2,732
HANG LUNG PROPERTIES LTD 0.02 4,689
HCP INC 0.04 11,706
HENDERSON LAND DEVELOPMENT 0.02 5,976
HONGKONG LAND HOLDINGS LTD 0.02 6,283
HOST HOTELS & RESORTS INC 0.04 10,659
HULIC CO LTD 0.00 1,341
HYSAN DEVELOPMENT CO 0.01 3,395
ICADE 0.01 3,578
INMOBILIARIA COLONIAL SOCIMI 0.01 1,497
INVITATION HOMES INC 0.03 7,568
IRON MOUNTAIN INC 0.02 6,754
KEPPEL REIT 0.01 1,872
KERRY PROPERTIES LTD 0.00 1,207
KIMCO REALTY CORP 0.02 5,778
KIWI PROPERTY GROUP LTD 0.01 1,483
KLEPIERRE 0.02 4,551
LAND SECURITIES GROUP PLC 0.02 5,992
LEG IMMOBILIEN AG 0.02 5,672
LIBERTY PROPERTY TRUST 0.02 6,592
LINK REIT 0.08 21,201
MACERICH CO/THE 0.01 3,686
MAPLETREE COMMERCIAL TRUST 0.01 2,813
MAPLETREE INDUSTRIAL TRUST 0.01 2,313
MAPLETREE LOGISTICS TRUST 0.01 2,800
MAPLETREE NORTH ASIA COMMERC 0.01 2,031
MELISRON 0.01 1,462
MERLIN PROPERTIES SOCIMI SA 0.01 2,739
MID-AMERICA APARTMENT COMM 0.04 11,404
MITSUBISHI ESTATE CO LTD 0.07 18,325
MITSUI FUDOSAN CO LTD 0.07 18,631
NEW WORLD DEVELOPMENT 0.02 6,056
NOMURA REAL ESTATE HOLDINGS 0.01 1,619
PARK HOTELS & RESORTS INC 0.01 3,620
PROLOGIS INC 0.15 40,133
PSP SWISS PROPERTY AG-REG 0.02 4,210
PUBLIC STORAGE 0.10 27,023
REALTY INCOME CORP 0.06 15,147
REGENCY CENTERS CORP 0.03 8,003
RELO GROUP INC 0.00 1,283
RIOCAN REAL ESTATE INVST TR 0.02 4,395
SBA COMMUNICATIONS CORP 0.08 20,796
SEGRO PLC 0.03 7,265
SHUI ON LAND LTD 0.01 2,503
SIMON PROPERTY GROUP INC 0.14 38,567
SINO LAND CO 0.02 5,511
SL GREEN REALTY CORP 0.02 4,685
SUMITOMO REALTY & DEVELOPMEN 0.05 12,335
SUN HUNG KAI PROPERTIES 0.07 18,811
SUNTEC REIT 0.01 3,358
SWIRE PACIFIC LTD - CL A 0.02 5,048
SWIRE PACIFIC LTD-CL B 0.01 2,335
SWIRE PROPERTIES LTD 0.01 2,588
SWISS PRIME SITE-REG 0.02 5,640
TOKYO TATEMONO CO LTD 0.01 3,159
TOKYU FUDOSAN HOLDINGS CORP 0.01 2,201
UDR INC 0.03 9,114
UNIBAIL-RODAMCO-WESTFIELD 0.06 16,287
UOL GROUP LTD 0.01 1,969
VENTAS INC 0.07 18,859
VEREIT INC 0.02 6,068
VONOVIA SE 0.07 19,462
VORNADO REALTY TRUST 0.04 9,883
WELLTOWER INC 0.09 23,841
WHARF HOLDINGS LTD 0.01 2,830
WHARF REAL ESTATE INVESTMENT 0.02 6,368
WHEELOCK & CO LTD 0.02 5,889
WP CAREY INC 0.03 8,791
A2A SPA 0.00 1,214
AES CORP 0.03 9,311
ALLIANT ENERGY CORP 0.03 8,271
AMERICAN WATER WORKS CO INC 0.06 16,041
ATMOS ENERGY CORP 0.03 9,142
AVANGRID INC 0.01 3,260
CANADIAN UTILITIES LTD-A 0.01 3,703
CENTERPOINT ENERGY INC 0.04 10,236
CHUBU ELECTRIC POWER CO INC 0.03 8,510
CK INFRASTRUCTURE HOLDINGS L 0.01 4,019
CMS ENERGY CORP 0.04 11,531
CONSOLIDATED EDISON INC 0.08 21,475
CONTACT ENERGY LTD 0.01 1,712
EDISON INTERNATIONAL 0.06 16,485
EDP RENOVAVEIS SA 0.00 1,329
EVERSOURCE ENERGY 0.07 18,549
FORTIS INC 0.05 12,762
HERA SPA 0.01 1,975
HYDRO ONE LTD 0.02 5,382
INNOGY SE 0.01 3,016
INNOGY SE-TEND 0.01 1,583
ITALGAS SPA 0.01 1,554
MERCURY NZ LTD 0.01 3,615
MERIDIAN ENERGY LTD 0.01 3,753
NATIONAL GRID PLC 0.10 28,363
NIPPON GAS CO LTD 0.00 1,081
NISOURCE INC 0.03 8,409
PENNON GROUP PLC 0.01 3,317
POWER ASSETS HOLDINGS LTD 0.03 7,092
PPL CORP 0.06 16,756
RED ELECTRICA CORPORACION SA 0.02 6,509
RUBIS 0.01 3,364
SEMPRA ENERGY 0.11 29,923
SEVERN TRENT PLC 0.02 5,804
SUEZ 0.02 4,646
TERNA SPA 0.02 6,731
TOHOKU ELECTRIC POWER CO INC 0.02 5,016
TOKYO ELECTRIC POWER COMPANY 0.03 6,882
UNITED UTILITIES GROUP PLC 0.02 4,306
VEOLIA ENVIRONNEMENT 0.03 8,279
VERBUND AG 0.01 1,787