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WisdomTree Trust

Semi-Annual Report

December 31, 2022

 

International Equity ETFs:

WisdomTree Dynamic Currency Hedged International Equity Fund (DDWM)

WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund (DDLS)

WisdomTree Emerging Markets ESG Fund (RESE)

WisdomTree Emerging Markets ex-China Fund (XC)

WisdomTree International ESG Fund (RESD)

Fixed Income ETFs:

WisdomTree U.S. Corporate Bond Fund (WFIG)

WisdomTree U.S. High Yield Corporate Bond Fund (WFHY)

WisdomTree U.S. Short-Term Corporate Bond Fund (SFIG)

Efficient Core ETFs:

WisdomTree Emerging Markets Efficient Core Fund (NTSE)

WisdomTree International Efficient Core Fund (NTSI)

WisdomTree U.S. Efficient Core Fund (NTSX)

Megatrends ETFs:

WisdomTree Artificial Intelligence and Innovation Fund (WTAI)

WisdomTree Battery Value Chain and Innovation Fund (WBAT)

WisdomTree BioRevolution Fund (WDNA)

WisdomTree Cloud Computing Fund (WCLD)

WisdomTree Cybersecurity Fund (WCBR)

 


Table of Contents

 

Information about Performance and Shareholder Expense Examples (unaudited)

       1  

Performance Summary (unaudited)

       2  

Description of Terms and Indexes (unaudited)

       18  
Schedules of Investments (unaudited)

 

WisdomTree Dynamic Currency Hedged International Equity Fund

       22  

WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund

       37  

WisdomTree Emerging Markets ESG Fund

       50  

WisdomTree Emerging Markets ex-China Fund

       54  

WisdomTree International ESG Fund

       64  

WisdomTree U.S. Corporate Bond Fund

       68  

WisdomTree U.S. High Yield Corporate Bond Fund

       75  

WisdomTree U.S. Short-Term Corporate Bond Fund

       83  

WisdomTree Emerging Markets Efficient Core Fund

       90  

WisdomTree International Efficient Core Fund

       96  

WisdomTree U.S. Efficient Core Fund

       102  

WisdomTree Artificial Intelligence and Innovation Fund

       109  

WisdomTree Battery Value Chain and Innovation Fund

       112  

WisdomTree BioRevolution Fund

       115  

WisdomTree Cloud Computing Fund

       117  

WisdomTree Cybersecurity Fund

       119  

Statements of Assets and Liabilities (unaudited)

       120  

Statements of Operations (unaudited)

       124  

Statements of Changes in Net Assets (unaudited)

       128  

Financial Highlights (unaudited)

       134  

Notes to Financial Statements (unaudited)

       142  

Approval of Investment Advisory and Sub-Advisory Agreements (unaudited)

       157  

General Information (unaudited)

       161  

“WisdomTree” is a registered mark of WisdomTree, Inc. (formerly, WisdomTree Investments, Inc.) and is licensed for use by the WisdomTree Trust.


Information about Performance and Shareholder Expense Examples (unaudited)

Performance

The performance tables on the following pages are provided for comparative purposes and represent the period noted. Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market price return is based on the market price per share of the Fund. The price used to calculate market price returns is the midpoint of the bid and ask price for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other exchange traded funds (“ETFs”), NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Fund shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Fund NAV returns are calculated using a Fund’s daily 4:00 p.m. eastern time NAV. Market price returns reflect the midpoint of the bid and ask price as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the most recent month-end performance information visit www.wisdomtree.com/investments.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore, index returns do not reflect deductions for fees or expenses and an index is not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or taxes that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results.

Shareholder Expense Examples

Each Fund’s performance table is accompanied by a shareholder expense example. As a shareholder of a WisdomTree Fund, you incur two types of cost: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The examples are intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from July 1, 2022 to December 31, 2022. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 184/365 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

The first line in the shareholder expense example table shown on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during the period.

Hypothetical example for comparison purposes

The second line in the shareholder expense example table shown on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

WisdomTree Trust      1  


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Dynamic Currency Hedged International Equity Fund (DDWM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    22.4%  

Industrials

    12.4%  

Materials

    11.6%  

Consumer Discretionary

    9.5%  

Consumer Staples

    9.1%  

Health Care

    8.5%  

Energy

    7.2%  

Communication Services

    6.9%  

Utilities

    5.3%  

Real Estate

    4.7%  

Information Technology

    3.1%  

Other Assets less Liabilities‡

    -0.7%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

BHP Group Ltd.

    3.9%  

Novartis AG, Registered Shares

    1.8%  

Nestle SA, Registered Shares

    1.7%  

TotalEnergies SE

    1.7%  

Shell PLC

    1.6%  

LVMH Moet Hennessy Louis Vuitton SE

    1.4%  

HSBC Holdings PLC

    1.4%  

Rio Tinto Ltd.

    1.3%  

Roche Holding AG

    1.3%  

Commonwealth Bank of Australia

    1.0%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Dynamic Currency Hedged International Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Dynamic Currency Hedged International Equity Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies in the industrialized world outside the U.S. and Canada while at the same time dynamically hedging exposure to fluctuations of the value of the applicable foreign currencies relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,067.80        0.41   $ 2.14  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.14        0.41   $ 2.09  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       6.78      -1.23      2.65      3.09      6.73

Fund Market Price Returns

       6.20      -0.97      2.84      3.09      6.77

WisdomTree Dynamic Currency Hedged International Equity Index

       7.14      -1.07      2.94      3.40      6.95

MSCI EAFE Local Currency Index

       4.82      -7.00      3.64      3.81      6.42

MSCI EAFE Index

       6.36      -14.45      0.87      1.54      5.38

MSCI EAFE Value Index

       7.43      -5.58      0.65      0.17      4.55
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on January 7, 2016.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

2   WisdomTree Trust


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund (DDLS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    23.7%  

Financials

    13.9%  

Consumer Discretionary

    13.0%  

Materials

    12.6%  

Real Estate

    11.9%  

Information Technology

    7.7%  

Consumer Staples

    6.0%  

Health Care

    4.0%  

Communication Services

    3.6%  

Energy

    2.3%  

Utilities

    2.1%  

Other Assets less Liabilities‡

    -0.8%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

D/S Norden A/S

    0.9%  

Azimut Holding SpA

    0.7%  

Charter Hall Long Wale REIT

    0.7%  

SSAB AB, Class A

    0.6%  

Coface SA

    0.6%  

NOS SGPS SA

    0.6%  

Sims Ltd.

    0.5%  

Deterra Royalties Ltd.

    0.5%  

Sydbank A/S

    0.5%  

Region RE Ltd.

    0.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Dynamic Currency Hedged International SmallCap Equity Index (the “Index”). In seeking to track the Index, the Fund invests in the small-capitalization segment of dividend-paying companies in the industrialized world outside the U.S. and Canada while at the same time dynamically hedging exposure to fluctuations of the value of the applicable foreign currencies relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,033.20        0.49   $ 2.51  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.74        0.49   $ 2.50  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       3.32      -9.79      0.95      1.37      6.48

Fund Market Price Returns

       2.31      -10.20      0.86      1.30      6.58

WisdomTree Dynamic Currency Hedged International SmallCap Equity Index

       3.70      -9.59      1.28      1.80      6.92

MSCI EAFE Small Cap Local Currency Index

       3.17      -13.60      2.13      2.31      6.29

MSCI EAFE Small Cap Index

       4.41      -21.39      -0.93      -0.05      5.19

MSCI EAFE Small Cap Value Index

       5.23      -14.99      -1.05      -0.61      4.98
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on January 7, 2016.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      3  


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Emerging Markets ESG Fund (RESE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    21.5%  

Financials

    20.7%  

Consumer Discretionary

    17.1%  

Materials

    10.0%  

Consumer Staples

    9.6%  

Communication Services

    7.4%  

Health Care

    5.5%  

Industrials

    5.4%  

Utilities

    2.9%  

Other Assets less Liabilities‡

    -0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Taiwan Semiconductor Manufacturing Co. Ltd.

    6.1%  

Samsung Electronics Co. Ltd.

    3.8%  

Alibaba Group Holding Ltd.

    2.6%  

Infosys Ltd.

    1.3%  

Turkcell Iletisim Hizmetleri AS

    1.1%  

Ping An Insurance Group Co. of China Ltd., Class H

    1.1%  

America Movil SAB de CV, Series L

    1.1%  

ICICI Bank Ltd.

    1.1%  

Bank Central Asia Tbk PT

    0.8%  

Orange Polska SA

    0.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Emerging Markets ESG Fund (the “Fund”) is actively managed using a model-based approach seeking capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in equity securities of issuers in emerging markets that exhibit certain characteristics believed to be indicative of positive future returns as well as incorporating favorable environmental, social, and governance (“ESG”) characteristics.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 987.00        0.32   $ 1.60  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.59        0.32   $ 1.63  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns2

       -1.30      -20.27      -3.42      -0.87      4.71

Fund Market Price Returns2

       -2.03      -19.74      -3.45      -0.93      4.75

MSCI Emerging Markets Extended ESG Focus Index3

       -4.20      -22.15      -3.01      N/A        N/A  

MSCI Emerging Markets Index

       -2.99      -20.09      -2.69      -1.40      5.02
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on April 7, 2016.

2 

The Fund’s objectives and strategies changed effective March 16, 2020. Prior to March 16, 2020, Fund performance reflects the investment objective of the Fund when it was the WisdomTree Emerging Markets Dividend Fund (DVEM) and tracked the performance, before fees and expenses, of the WisdomTree Emerging Markets Dividend Index.

3 

The MSCI Emerging Markets Extended ESG Focus Index began on March 27, 2018.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

4   WisdomTree Trust


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Emerging Markets ex-China Fund (XC)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    27.4%  

Financials

    19.3%  

Materials

    10.2%  

Consumer Staples

    9.5%  

Consumer Discretionary

    9.4%  

Industrials

    6.4%  

Communication Services

    5.1%  

Energy

    4.7%  

Health Care

    4.4%  

Utilities

    2.2%  

Real Estate

    1.3%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Taiwan Semiconductor Manufacturing Co. Ltd.

    8.7%  

Samsung Electronics Co. Ltd.

    5.8%  

Reliance Industries Ltd.

    3.5%  

Infosys Ltd.

    2.2%  

ICICI Bank Ltd.

    1.8%  

Al Rajhi Bank

    1.5%  

Bank Central Asia Tbk PT

    1.4%  

Naspers Ltd., Class N

    1.1%  

Hon Hai Precision Industry Co. Ltd.

    1.1%  

Hindustan Unilever Ltd.

    1.0%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Emerging Markets ex-China Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets ex-China Index (the “Index”). The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund had less than six months of operating history at the end of the reporting period and therefore no comparative performance information is shown in this shareholder report. Comparative performance information for the most recent month-end is available at www.wisdomtree.com/investments.

Shareholder Expense Example (for the six-month period1 ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual1

   $ 1,000.00      $ 1,002.50        0.32   $ 0.89  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.59        0.32   $ 1.63  
1 

Fund commenced operations on September 22, 2022. Actual expenses are calculated using the Fund’s annualized expense ratio, multiplied by the average account value for the period, multiplied by 101/365 (to reflect the period since commencement of operations).

 

WisdomTree Trust      5  


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree International ESG Fund (RESD)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    20.9%  

Industrials

    14.4%  

Health Care

    14.4%  

Consumer Staples

    12.6%  

Consumer Discretionary

    10.7%  

Information Technology

    9.9%  

Materials

    6.6%  

Communication Services

    5.2%  

Utilities

    3.6%  

Real Estate

    1.2%  

Other Assets less Liabilities‡

    0.5%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Nestle SA, Registered Shares

    2.9%  

Novo Nordisk A/S, Class B

    2.4%  

Roche Holding AG

    1.8%  

Novartis AG, Registered Shares

    1.7%  

ASML Holding NV

    1.5%  

Unilever PLC

    1.4%  

AstraZeneca PLC

    1.4%  

Commonwealth Bank of Australia

    1.3%  

Diageo PLC

    1.2%  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

    1.1%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International ESG Fund (the “Fund”) is actively managed using a model-based approach seeking capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in equity securities of issuers in developed markets excluding the U.S. and Canada that exhibit certain characteristics believed to be indicative of positive future returns as well as incorporating favorable environmental, social, and governance (“ESG”) characteristics.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,030.70        0.30   $ 1.54  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.69        0.30   $ 1.53  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns2

       3.07      -16.41      1.32      3.38      7.12

Fund Market Price Returns2

       2.70      -16.72      1.23      3.34      7.09

MSCI EAFE Extended ESG Focus Index3

       6.17      -15.08      1.00      N/A        N/A  

MSCI EAFE Index

       6.36      -14.45      0.87      1.54      5.35
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on November 3, 2016.

2 

The Fund’s objective and strategy changed effective March 16, 2020. Prior to March 16, 2020, Fund performance reflects the investment objective of the Fund when it was the WisdomTree Dynamic Currency Hedged International Quality Dividend Growth Fund (DHDG) and tracked the performance, before fees and expenses, of the WisdomTree Dynamic Currency Hedged International Quality Dividend Growth Index.

3 

The MSCI EAFE Extended ESG Focus Index began on March 27, 2018.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

6   WisdomTree Trust


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree U.S. Corporate Bond Fund (WFIG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    31.7%  

Information Technology

    11.9%  

Health Care

    10.8%  

Utilities

    8.1%  

Industrials

    7.5%  

Communication Services

    6.2%  

Consumer Staples

    6.0%  

Energy

    5.8%  

Consumer Discretionary

    4.7%  

Materials

    3.3%  

Real Estate

    1.8%  

U.S. Government Obligations

    1.0%  

Other Assets less Liabilities‡

    1.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

International Business Machines Corp.,
3.50%, 5/15/29

    1.1%  

Wells Fargo & Co.,
1.65%, 6/2/24,

    1.0%  

JPMorgan Chase & Co.,
4.08%, 4/26/26,

    1.0%  

Comcast Corp.,
1.50%, 2/15/31

    0.9%  

Capital One Financial Corp.,
3.75%, 7/28/26

    0.9%  

Continental Resources, Inc.,
4.38%, 1/15/28

    0.8%  

Diamondback Energy, Inc.,
6.25%, 3/15/33

    0.8%  

BAT Capital Corp.,
4.70%, 4/2/27

    0.8%  

Oracle Corp.,
2.88%, 3/25/31

    0.8%  

Bank of America Corp.,
3.42%, 12/20/28,

    0.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Corporate Bond Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Corporate Bond Index (the “Index”). In seeking to track the Index, the Fund primarily invests in issuers in the U.S. investment grade corporate bond market that are deemed to exhibit favorable fundamentals and opportunities for income. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 984.30        0.18   $ 0.90  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,024.30        0.18   $ 0.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       -1.57      -16.33      -3.19      0.08      0.96

Fund Market Price Returns

       -1.61      -16.23      -3.27      0.24      0.93

WisdomTree U.S. Corporate Bond Index

       -1.23      -16.17      -2.95      0.37      1.30

ICE BofA Merrill Lynch U.S. Corporate Index

       -1.77      -15.45      -2.75      0.53      1.49
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on April 27, 2016.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      7  


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree U.S. High Yield Corporate Bond Fund (WFHY)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    16.5%  

Communication Services

    15.3%  

Energy

    12.7%  

Health Care

    9.9%  

Financials

    9.5%  

Industrials

    8.5%  

Information Technology

    7.0%  

Consumer Staples

    5.6%  

Real Estate

    5.1%  

Materials

    4.7%  

Utilities

    2.9%  

Other Assets less Liabilities‡

    2.3%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

DISH DBS Corp.,
7.75%, 7/1/26

    0.9%  

Frontier Communications Holdings LLC,
5.00%, 5/1/28

    0.8%  

Nationstar Mortgage Holdings, Inc.,
6.00%, 1/15/27

    0.8%  

Frontier Communications Holdings LLC,
5.88%, 11/1/29

    0.7%  

DISH DBS Corp.,
5.13%, 6/1/29

    0.7%  

Genesis Energy LP / Genesis Energy Finance Corp.,
7.75%, 2/1/28

    0.7%  

CSC Holdings LLC,
5.38%, 2/1/28

    0.7%  

Charter Communications Operating LLC / Charter Communications Operating Capital,
3.70%, 4/1/51

    0.7%  

Lumen Technologies, Inc.,
5.13%, 12/15/26

    0.7%  

Transocean, Inc.,
11.50%, 1/30/27

    0.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. High Yield Corporate Bond Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. High Yield Corporate Bond Index (the “Index”). In seeking to track the Index, the Fund primarily invests in issuers in the U.S. non-investment grade corporate bond (“junk bond” or “high yield”) market that are deemed to exhibit favorable fundamentals and opportunities for income. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,028.60        0.38   $ 1.94  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.29        0.38   $ 1.94  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       2.86      -11.99      -0.88      2.01      3.43

Fund Market Price Returns

       2.86      -11.76      -0.90      2.45      3.49

WisdomTree U.S. High Yield Corporate Bond Index

       3.11      -12.09      -0.79      2.24      4.03

ICE BofA Merrill Lynch U.S. High Yield Index

       3.27      -11.22      -0.23      2.12      4.14
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on April 27, 2016.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

8   WisdomTree Trust


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree U.S. Short-Term Corporate Bond Fund (SFIG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    41.5%  

Information Technology

    11.3%  

Health Care

    10.7%  

Consumer Discretionary

    6.7%  

Consumer Staples

    6.7%  

Industrials

    5.7%  

Utilities

    5.7%  

Energy

    3.4%  

Communication Services

    3.4%  

Materials

    2.3%  

Real Estate

    1.7%  

Other Assets less Liabilities‡

    0.9%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Goldman Sachs Group, Inc.,
5.95%, 1/15/27

    1.3%  

Oracle Corp.,
1.65%, 3/25/26

    1.0%  

Citigroup, Inc.,
4.45%, 9/29/27

    1.0%  

JPMorgan Chase & Co.,
4.25%, 10/1/27

    1.0%  

Wells Fargo & Co.,
4.30%, 7/22/27

    1.0%  

Dell International LLC / EMC Corp.,
6.02%, 6/15/26

    1.0%  

JPMorgan Chase & Co.,
3.22%, 3/1/25,

    0.9%  

JPMorgan Chase & Co.,
2.08%, 4/22/26,

    0.8%  

Morgan Stanley,
2.19%, 4/28/26,

    0.8%  

Goldman Sachs Group, Inc.,
4.39%, 6/15/27,

    0.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Short-Term Corporate Bond Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Short-Term Corporate Bond Index (the “Index”). In seeking to track the Index, the Fund primarily invests in issuers in the short-term U.S. investment grade corporate bond market that are deemed to exhibit favorable fundamentals and opportunities for income. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 998.40        0.18   $ 0.91  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,024.30        0.18   $ 0.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       -0.16      -5.67      -0.73      0.93      1.03

Fund Market Price Returns

       -0.12      -5.65      -0.76      1.07      0.98

WisdomTree U.S. Short-Term Corporate Bond Index

       0.12      -5.33      -0.38      1.29      1.44

ICE BofA Merrill Lynch 1-5 year U.S. Corporate Index

       -0.13      -6.11      -0.36      1.37      1.54
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on April 27, 2016.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      9  


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Emerging Markets Efficient Core Fund (NTSE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    19.3%  

Information Technology

    19.3%  

Consumer Discretionary

    14.2%  

Communication Services

    9.5%  

Materials

    8.0%  

Consumer Staples

    5.9%  

Energy

    4.5%  

Health Care

    3.3%  

Industrials

    3.3%  

Utilities

    2.0%  

Real Estate

    1.5%  

Other Assets less Liabilities‡

    9.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Taiwan Semiconductor Manufacturing Co. Ltd.

    6.3%  

Tencent Holdings Ltd.

    4.6%  

Samsung Electronics Co. Ltd.

    4.4%  

Alibaba Group Holding Ltd.

    3.2%  

Reliance Industries Ltd.

    1.7%  

Naspers Ltd., Class N

    1.6%  

Meituan, Class B

    1.5%  

Vale SA

    1.4%  

Infosys Ltd.

    1.2%  

China Construction Bank Corp., Class H

    1.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Emerging Markets Efficient Core Fund (the “Fund”) is actively managed using a model-based approach seeking total return. The Fund seeks to achieve its investment objective by primarily investing in emerging markets equity securities and U.S. Treasury futures contracts. Under normal circumstances, the Fund will invest approximately 90% of its net assets in emerging market equity securities and the notional exposure to the U.S. Treasury futures contracts’ positions will represent approximately 60% of the Fund’s net assets.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 944.90        0.32   $ 1.57  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.59        0.32   $ 1.63  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      Since Inception1  

Fund NAV Returns

       -5.51      -26.50      -19.70

Fund Market Price Returns

       -5.00      -26.22      -19.49

MSCI Emerging Markets Index

       -4.43      -22.37      -18.33
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on May 20, 2021.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

10   WisdomTree Trust


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree International Efficient Core Fund (NTSI)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    17.2%  

Industrials

    13.2%  

Health Care

    13.1%  

Consumer Discretionary

    10.6%  

Consumer Staples

    10.2%  

Materials

    7.1%  

Information Technology

    6.8%  

Energy

    4.6%  

Communication Services

    3.9%  

Utilities

    2.6%  

Real Estate

    1.4%  

Other Assets less Liabilities‡

    9.3%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Nestle SA, Registered Shares

    2.3%  

ASML Holding NV

    1.7%  

Novo Nordisk A/S, Class B

    1.6%  

Roche Holding AG

    1.6%  

Shell PLC

    1.5%  

LVMH Moet Hennessy Louis Vuitton SE

    1.5%  

Novartis AG, Registered Shares

    1.4%  

AstraZeneca PLC

    1.2%  

Toyota Motor Corp.

    1.2%  

TotalEnergies SE

    1.1%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International Efficient Core Fund (the “Fund”) is actively managed using a model-based approach seeking total return. The Fund seeks to achieve its investment objective by primarily investing in international equity securities and U.S. Treasury futures contracts. Under normal circumstances, the Fund will invest approximately 90% of its net assets in international equity securities and the notional exposure to the U.S. Treasury futures contracts’ positions will represent approximately 60% of the Fund’s net assets.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,026.70        0.26   $ 1.33  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.89        0.26   $ 1.33  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      Since Inception1  

Fund NAV Returns

       2.67      -19.72      -10.93

Fund Market Price Returns

       2.80      -19.63      -10.81

MSCI EAFE Index

       6.36      -14.45      -7.38
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on May 20, 2021.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      11  


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree U.S. Efficient Core Fund (NTSX)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    23.9%  

Health Care

    14.0%  

Financials

    10.5%  

Consumer Discretionary

    8.9%  

Industrials

    7.9%  

Communication Services

    6.7%  

Consumer Staples

    6.3%  

Energy

    4.8%  

Utilities

    2.6%  

Real Estate

    2.4%  

Materials

    2.2%  

Other Assets less Liabilities‡

    9.8%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    5.5%  

Microsoft Corp.

    5.1%  

Amazon.com, Inc.

    2.2%  

Alphabet, Inc., Class A

    1.5%  

Alphabet, Inc., Class C

    1.3%  

UnitedHealth Group, Inc.

    1.3%  

Johnson & Johnson

    1.3%  

Exxon Mobil Corp.

    1.3%  

JPMorgan Chase & Co.

    1.1%  

Berkshire Hathaway, Inc., Class B

    1.0%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Efficient Core Fund (the “Fund”) is actively managed using a model-based approach seeking total return. The Fund seeks to achieve its investment objective by investing in large-capitalization U.S. equity securities and U.S. Treasury futures contracts. Under normal circumstances, the Fund will invest approximately 90% of its net assets in U.S. equity securities and the notional exposure to the U.S. Treasury futures contracts’ positions will represent approximately 60% of the Fund’s net assets.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 980.30        0.20   $ 1.00  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,024.20        0.20   $ 1.02  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      Since Inception1  

Fund NAV Returns

       -1.97      -25.72      4.27      7.33

Fund Market Price Returns

       -1.74      -25.87      4.26      7.31

60% S&P 500® Index / 40% Bloomberg U.S. Aggregate Index Composite

       -0.21      -16.17      3.75      5.81

S&P 500® Index

       2.31      -18.11      7.66      9.08
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on August 2, 2018.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

12   WisdomTree Trust


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Artificial Intelligence and Innovation Fund (WTAI)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    79.7%  

Consumer Discretionary

    6.8%  

Industrials

    6.0%  

Health Care

    3.8%  

Communication Services

    2.3%  

Financials

    1.4%  

Other Assets less Liabilities‡

    0.0%

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Ambarella, Inc.

    2.5%  

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

    2.0%  

Analog Devices, Inc.

    2.0%  

Lattice Semiconductor Corp.

    2.0%  

Infineon Technologies AG

    2.0%  

ASML Holding NV, Registered shares

    1.9%  

Cadence Design Systems, Inc.

    1.9%  

Synopsys, Inc.

    1.9%  

STMicroelectronics NV

    1.9%  

NXP Semiconductors NV

    1.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Artificial Intelligence and Innovation Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Artificial Intelligence & Innovation Index (the “Index”). In seeking to track the Index, the Fund primarily invests in equity securities of exchange-listed companies globally, including developed countries and emerging markets throughout the world, which are primarily involved in the investment theme of “Artificial Intelligence and Innovation”. Artificial intelligence refers to the application of computer systems or robotics to perform tasks that typically require human intelligence, discernment and adaption, such as decision-making, reasoning, learning from past experiences, visual perception, and speech recognition. Innovation refers to those companies that introduce a new, creative, or different (i.e., “innovative”) technology enabled product or service in seeking to potentially change an industry landscape, as well as companies that service those innovative technologies. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of the securities in the Index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Index as a whole.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 940.90        0.45   $ 2.20  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.94        0.45   $ 2.29  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      Since Inception1  

Fund NAV Returns

       -5.91      -42.43      -41.94

Fund Market Price Returns

       -5.83      -42.26      -41.70

WisdomTree Artificial Intelligence & Innovation Index

       -5.70      -42.21      -41.74

Nasdaq 100 Index

       -4.46      -32.38      -31.07

S&P 500® Information Technology Index

       -1.76      -28.19      -26.40
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on December 9, 2021.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      13  


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Battery Value Chain and Innovation Fund (WBAT)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    39.9%  

Materials

    35.4%  

Consumer Discretionary

    10.2%  

Information Technology

    9.1%  

Utilities

    3.1%  

Energy

    1.9%  

Health Care

    0.2%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Umicore SA

    3.8%  

TDK Corp.

    3.5%  

QuantumScape Corp.

    2.9%  

Blink Charging Co.

    2.9%  

GEM Co. Ltd., Class A

    2.8%  

BASF SE

    2.8%  

EnerSys

    2.3%  

Rolls-Royce Holdings PLC

    1.9%  

Bloom Energy Corp., Class A

    1.9%  

Qingdao TGOOD Electric Co. Ltd., Class A

    1.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Battery Value Chain and Innovation Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Battery Value Chain and Innovation Index (the “Index”). In seeking to track the Index, the Fund invests in companies primarily involved in battery and energy storage solutions that meet the index eligibility requirements. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of the securities in the index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Index as a whole.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 928.30        0.45   $ 2.19  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.94        0.45   $ 2.29  

Performance

 

   
        Cumulative Total Return  
        6-Month*      Since Inception1  

Fund NAV Returns

       -7.17      -20.36

Fund Market Price Returns

       -7.90      -20.41

WisdomTree Battery Value Chain and Innovation Index

       -7.05      -20.03

MSCI ACWI Materials Index

       7.32      -11.76
1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on February 17, 2022.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

14   WisdomTree Trust


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree BioRevolution Fund (WDNA)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    78.8%  

Materials

    12.2%  

Consumer Staples

    5.6%  

Energy

    3.2%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

AstraZeneca PLC, ADR

    3.1%  

Pfizer, Inc.

    2.3%  

Vertex Pharmaceuticals, Inc.

    2.3%  

Archer-Daniels-Midland Co.

    2.2%  

Merck & Co., Inc.

    2.2%  

Gilead Sciences, Inc.

    2.2%  

Sarepta Therapeutics, Inc.

    2.2%  

Alnylam Pharmaceuticals, Inc.

    2.2%  

Eli Lilly & Co.

    2.1%  

Thermo Fisher Scientific, Inc.

    2.0%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree BioRevolution Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree BioRevolution Index (the “Index”). In seeking to track the Index, the Fund primarily invests in equity securities of exchange-listed companies globally that will be significantly transformed by advancements in genetics and biotechnology. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of the securities in the Index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Index as a whole.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,005.50        0.45   $ 2.27  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.94        0.45   $ 2.29  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      Since Inception1  

Fund NAV Returns

       0.55      -26.07      -20.34

Fund Market Price Returns

       0.43      -26.23      -20.42

WisdomTree BioRevolution Index

       0.75      -25.77      -19.99

S&P Biotechnology Select Industry Index

       12.04      -25.62      -23.52

S&P 500® Health Care Index

       6.10      -3.55      7.67
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on June 3, 2021.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      15  


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Cloud Computing Fund (WCLD)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    94.5%  

Health Care

    2.1%  

Communication Services

    1.9%  

Consumer Discretionary

    1.4%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Yext, Inc.

    2.3%  

Clearwater Analytics Holdings, Inc., Class A

    2.0%  

Workiva, Inc.

    2.0%  

AvidXchange Holdings, Inc.

    2.0%  

Coupa Software, Inc.

    1.9%  

Smartsheet, Inc., Class A

    1.9%  

Wix.com Ltd.

    1.9%  

Squarespace, Inc., Class A

    1.8%  

PagerDuty, Inc.

    1.7%  

Box, Inc., Class A

    1.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Cloud Computing Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the Bessemer Venture Partners (“BVP”) Nasdaq Emerging Cloud Index (the “Index”). In seeking to track the Index, the Fund invests in emerging public companies primarily involved in providing cloud computing software and services to their customers, which derive the majority of their revenues from business-oriented software products, as determined by BVP. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 893.70        0.45   $ 2.15  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.94        0.45   $ 2.29  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      Since Inception1  

Fund NAV Returns

       -10.63      -51.71      -0.67      -0.01

Fund Market Price Returns

       -10.40      -51.67      -0.66      0.01

BVP Nasdaq Emerging Cloud Index

       -10.48      -51.53      -0.34      0.36

S&P 500® Information Technology Index

       -1.76      -28.19      11.60      14.69

S&P 500® Growth Index

       -2.47      -29.41      7.54      8.96
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on September 6, 2019.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

16   WisdomTree Trust


Performance Summary

as of December 31, 2022 (unaudited)

WisdomTree Cybersecurity Fund (WCBR)

 

Country Breakdown

 

Country   % of Net Assets  

United States

    86.5%  

United Kingdom

    4.5%  

Japan

    4.4%  

South Korea

    2.8%  

Israel

    1.3%  

Canada

    0.4%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s country breakdown may change over time. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Okta, Inc.

    7.1%  

Fortinet, Inc.

    6.1%  

Akamai Technologies, Inc.

    5.2%  

Tenable Holdings, Inc.

    5.1%  

HashiCorp, Inc., Class A

    5.0%  

Palo Alto Networks, Inc.

    5.0%  

Datadog, Inc., Class A

    4.9%  

Fastly, Inc., Class A

    4.7%  

Cloudflare, Inc., Class A

    4.6%  

Darktrace PLC

    4.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Cybersecurity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Team8 Cybersecurity Index (the “Index”). In seeking to track the Index, the Fund invests in equity securities of exchange-listed companies globally, which are primarily involved in cybersecurity and security-oriented technology that generate a meaningful part of their revenue from security protocols that prevent intrusion and attacks to systems, networks, applications, computers, and mobile devices and are experiencing revenue growth.

Shareholder Expense Example (for the six-month period ended December 31, 2022)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 855.90        0.45   $ 2.11  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.94        0.45   $ 2.29  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      Since Inception1  

Fund NAV Returns

       -14.41      -41.57      -21.11

Fund Market Price Returns

       -14.37      -41.61      -21.14

WisdomTree Team8 Cybersecurity Index

       -14.73      -41.75      -21.01

S&P 500® Information Technology Index

       -1.76      -28.19      -2.31

S&P 500® Growth Index

       -2.47      -29.41      -4.03
*

Returns of less than one year are cumulative.

1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on January 28, 2021.

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      17  


Description of Terms and Indexes (unaudited)

 

 

Below are descriptions of certain terms and of each Index referenced in this report:

The 60% S&P 500® Index/40% Bloomberg U.S. Aggregate Index Composite represents a 60% weight to the S&P 500® Index and a 40% weight to the Bloomberg U.S. Aggregate Index. The Bloomberg U.S. Aggregate Index measures the performance of the U.S. investment-grade bond market.

The BVP Nasdaq Emerging Cloud Index is an equally weighted index that is designed to track the performance of emerging public companies primarily involved in providing cloud software and services to their customers.

Cloud computing is a term used to describe the delivery, through the Internet, of computing services, which can include servers, storage, databases, networking, software, analytics, and intelligence.

The ICE BofA Merrill Lynch U.S. Corporate Index tracks the performance of U.S. dollar denominated investment grade corporate debt publicly issued in the U.S.

The ICE BofA Merrill Lynch U.S. High Yield Index tracks the performance of U.S. dollar denominated high yield corporate debt securities issued in the U.S.

The ICE BofA Merrill Lynch 1-5 Year U.S. Corporate Index is a subset of the ICE BofA Merrill Lynch U.S. Corporate Index including all securities with a remaining term to final maturity less than 5 years.

The MSCI ACWI Materials Index is a modified market capitalization weighted index that measures the performance of securities classified in the Materials GICS sector.

The MSCI EAFE Extended ESG Focus Index is designed to maximize exposure to positive environmental, social and governance (ESG) factors while exhibiting risk and return characteristics similar to those of the MSCI EAFE Index, its parent index.

The MSCI EAFE Index is a market cap-weighted index composed of companies representative of the developed market structure of developed countries in Europe, Australasia and Japan.

The MSCI EAFE Local Currency Index is a free float-adjusted market capitalization weighted index that is designed to measure developed market equity performance, excluding the U.S. and Canada, in local currency.

The MSCI EAFE Small Cap Index is a free float-adjusted market capitalization equity index that is designed to measure the performance of small-cap stocks within the developed equity market, excluding the U.S. and Canada.

The MSCI EAFE Small Cap Local Currency Index is a free float-adjusted market capitalization equity index that is designed to measure the performance of small-cap stocks within the developed equity market, excluding the U.S. and Canada, in local currency.

The MSCI EAFE Small Cap Value Index captures small cap securities exhibiting overall value style characteristics across Developed Markets countries, excluding the U.S. and Canada.

The MSCI EAFE Value Index is a free float-adjusted market capitalization index that is designed to measure the performance of “value” stocks within the developed equity market, excluding the U.S. and Canada.

The MSCI Emerging Markets Extended ESG Focus Index is designed to maximize exposure to positive environmental, social and governance (ESG) factors while exhibiting risk and return characteristics similar to those of the MSCI Emerging Markets Index, its parent index.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure emerging markets equity performance.

The MSCI Extended ESG Focus Indexes (the “Indexes”) are designed to maximize their exposure to positive environmental, social and governance (ESG) factors while exhibiting risk and return characteristics similar to those of the underlying market capitalization weighted index.

 

18   WisdomTree Trust


Description of Terms and Indexes (unaudited) (continued)

 

The NASDAQ 100 Index is a large-cap growth index that includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization.

The S&P 500® Growth Index measures the performance of the large-capitalization growth sector of the U.S. equity market.

The S&P 500® Health Care Index is a capitalization weighted index that measures the performance of the members of the GICS Healthcare sector within the S&P 500 Index.

The S&P 500® Index is a capitalization-weighted index of 500 stocks selected by the Standard & Poor’s Index Committee designed to represent the performance of the leading industries in the United States economy.

The S&P 500® Information Technology Index comprises companies included in the S&P 500® that are classified as members of the GICS® information technology sector.

The S&P Biotechnology Select Industry Index is designed to measure the performance of stocks from the S&P Total Market index that are classified in the GICS biotechnology sub-industry.

The WisdomTree Artificial Intelligence & Innovation Index is designed to measure the performance of companies primarily involved in artificial intelligence and innovation.

The WisdomTree Battery Value Chain and Innovation Index is designed to track the performance of companies primarily involved in battery and energy storage solutions that meet Index eligibility requirements. Battery and energy storage solutions can be defined as technology that captures electric energy in chemical form.

The WisdomTree BioRevolution Index is designed to track performance of companies that will be significantly transformed by advancements in genetics and biotechnology that meet index eligibility requirements.

The WisdomTree Dynamic Currency Hedged International Equity Index is a fundamentally weighted index that measures the performance of dividend-paying companies in the industrialized world, excluding Canada and the United States. To hedge the impact of changes to the value of foreign currencies relative to the U.S. dollar, a currency hedge ratio (ranging from 0% to 100%) is applied monthly using a rules-based process that combines momentum, value, and interest rate signals.

The WisdomTree Dynamic Currency Hedged International SmallCap Equity Index is a fundamentally weighted index that measures the performance of the small-capitalization segment of the dividend-paying market in the industrialized world, excluding Canada and the United States. To hedge the impact of changes to the value of foreign currencies relative to the U.S. dollar, a currency hedge ratio (ranging from 0% to 100%) is applied monthly using a rules-based process that combines momentum, value, and interest rate signals.

The WisdomTree Emerging Markets ex-China Index measures the performance of emerging markets stocks (excluding China) that are not state owned enterprises. State owned enterprises are defined as government ownership of more than 20% of outstanding shares of companies. The index employs a modified float-adjusted market capitalization weighting process to target the weights of countries in the universe (excluding China) prior to the removal of state owned enterprises while also limiting sector deviations to 3% of the starting universe.

The WisdomTree Team8 Cybersecurity Index is designed to track the performance of companies primarily involved in providing cybersecurity-oriented products that meet index eligibility requirements.

The WisdomTree U.S. Corporate Bond Index is a rule-based alternatively weighted index designed to capture the performance of selected issuers in the U.S. investment grade corporate bond market that are deemed to have attractive fundamental and income characteristics. The Index employs a multi-step process, which screens on fundamentals to identify bonds with favorable characteristics and then tilts to those which offer attractive income characteristics. The Index is comprised of U.S. corporate bonds of

 

WisdomTree Trust      19  


Description of Terms and Indexes (unaudited) (continued)

public issuers domiciled in the United States. To be eligible for inclusion in the Index, debt securities must have fixed coupons with at least $350 million in par amount outstanding and a remaining maturity of at least one year. Component securities must be rated investment grade.

The WisdomTree U.S. High Yield Corporate Bond Index is a rule-based alternatively weighted index designed to capture the performance of selected issuers in the U.S. high yield corporate bond market that are deemed to have attractive fundamental and income characteristics. The Index employs a multi-step process, which screens on fundamentals to identify bonds with favorable characteristics and then tilts to those which offer attractive income characteristics. The Index is comprised of U.S. corporate bonds of public issuers domiciled in the United States. To be eligible for inclusion in the Index, debt securities must have fixed coupons with at least $500 million in par amount outstanding and a remaining maturity of at least one year. Component securities must be rated non-investment grade by at least one rating agency.

The WisdomTree U.S. Short-Term Corporate Bond Index is a rule-based alternatively weighted index designed to capture the performance of selected issuers in the U.S. investment-grade corporate bond market that are deemed to have attractive fundamental and income characteristics. The Index employs a multi-step process, which screens on fundamentals to identify bonds with favorable characteristics and then tilts to those which offer attractive income characteristics. The Index is comprised of U.S. corporate bonds of public issuers domiciled in the United States. To be eligible for inclusion in the Index, debt securities must have fixed coupons with at least $350 million in par amount outstanding and a remaining maturity of at least one year but not more than five years. Component securities must be rated investment grade.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s (“S&P”), a division of The McGraw-Hill Companies, Inc. and is licensed for use by WisdomTree, Inc. Neither MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

THE INFORMATION SET FORTH IN THE BVP NASDAQ EMERGING CLOUD INDEX IS NOT INTENDED TO BE, AND SHALL NOT BE REGARDED OR CONSTRUED AS, A RECOMMENDATION FOR A TRANSACTION OR INVESTMENT OR FINANCIAL, TAX, INVESTMENT OR OTHER ADVICE OF ANY KIND BY BESSEMER VENTURE PARTNERS. BESSEMER VENTURE PARTNERS DOES NOT PROVIDE INVESTMENT ADVICE TO WISDOMTREE OR THE FUND, IS NOT AN INVESTMENT ADVISER TO THE FUND AND IS NOT RESPONSIBLE FOR THE PERFORMANCE OF THE FUND. THE FUND IS NOT ISSUED, SPONSORED, ENDORSED OR PROMOTED BY BESSEMER VENTURE PARTNERS. BESSEMER VENTURE PARTNERS MAKES NO WARRANTY OR REPRESENTATION REGARDING THE QUALITY, ACCURACY OR COMPLETENESS OF THE BVP NASDAQ EMERGING CLOUD INDEX, INDEX

 

20   WisdomTree Trust


Description of Terms and Indexes (unaudited) (concluded)

 

VALUES OR ANY INDEX RELATED DATA INCLUDED HEREIN, PROVIDED HEREWITH OR DERIVED THEREFROM AND ASSUMES NO LIABILITY IN CONNECTION WITH ITS USE. BESSEMER VENTURE PARTNERS AND/OR POOLED INVESTMENT VEHICLES WHICH IT MANAGES, AND INDIVIDUALS AND ENTITIES AFFILIATED WITH SUCH VEHICLES, MAY PURCHASE, SELL OR HOLD SECURITIES OF ISSUERS THAT ARE CONSTITUENTS OF THE BVP NASDAQ EMERGING CLOUD INDEX FROM TIME TO TIME AND AT ANY TIME, INCLUDING IN ADVANCE OF OR FOLLOWING AN ISSUER BEING ADDED TO OR REMOVED FROM THE BVP NASDAQ EMERGING CLOUD INDEX.

Nasdaq® and the BVP Nasdaq Emerging Cloud Index are registered trademarks and service marks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by WisdomTree. The fund has not been passed on by the Corporations as to its legality or suitability. The fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

WisdomTree, Inc. and WisdomTree Asset Management, Inc. (together, “WisdomTree”) and the Funds make no representation or warranty, express or implied, to the owners of shares of the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly or the ability of the underlying Indexes to track the performance of their underlying securities. WisdomTree is the licensor of certain trademarks, service marks and trade names of the Funds. WisdomTree has no obligation to take the needs of the Funds or the owners of shares of the Funds into consideration in determining, composing, or calculating the underlying WisdomTree Indexes of the applicable Funds. WisdomTree is not responsible for, and has not participated in, the determination of the timing of, prices of, or quantities of shares of the Funds to be issued or in the determination or calculation of the equation by which the shares of the Funds are redeemable. WisdomTree and the Funds do not guarantee the accuracy, completeness, or performance of the underlying Indexes or the data included therein and shall have no liability in connection with the underlying Indexes or their calculation.

Index performance information assumes the reinvestment of dividends and excludes management fees, transaction costs and expenses. You cannot directly invest in an index.

*    *    *    *    *    *

Abbreviations used in the schedules of investments and related tables included in this report are as follows:

 

CURRENCY ABBREVIATIONS:
AUD   Australian dollar    ILS   Israeli new shekel
CHF   Swiss franc    JPY   Japanese yen
DKK   Danish krone    NOK   Norwegian krone
EUR   Euro    SEK   Swedish krona
GBP   British pound    SGD   Singapore dollar
HKD   Hong Kong dollar    USD   U.S. dollar
OTHER ABBREVIATIONS:           
ADR   American Depositary Receipt
CVA   Certificaten Van Aandelen (Certificate of Stock)
GDR   Global Depositary Receipt
NVDR   Non-Voting Depositary Receipt
RSP   Risparmio Italian Savings Shares

 

WisdomTree Trust      21  


Schedule of Investments (unaudited)

WisdomTree Dynamic Currency Hedged International Equity Fund (DDWM)

December 31, 2022

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 100.7%

 

Australia – 13.5%

 

Abacus Property Group(a)

     38,763      $ 69,135  

Accent Group Ltd.(a)

     12,282        13,993  

Adbri Ltd.(a)

     18,004        20,207  

AGL Energy Ltd.

     14,282        78,161  

ALS Ltd.

     6,392        53,014  

Alumina Ltd.(a)

     105,593        108,844  

Ampol Ltd.

     7,505        143,932  

ANZ Group Holdings Ltd.

     79,177        1,270,397  

APA Group

     28,712        209,508  

Aristocrat Leisure Ltd.

     3,877        80,243  

ASX Ltd.

     3,350        154,528  

Aurizon Holdings Ltd.

     38,840        98,246  

Australian Clinical Labs Ltd.

     16,551        33,448  

Bank of Queensland Ltd.(a)

     11,683        54,668  

Bendigo & Adelaide Bank Ltd.

     11,064        73,605  

BHP Group Ltd.

     277,704        8,593,268  

BlueScope Steel Ltd.

     9,587        109,484  

Brambles Ltd.

     16,334        133,698  

Brickworks Ltd.

     2,392        35,963  

BWP Trust(a)

     18,688        49,552  

carsales.com Ltd.

     3,922        55,215  

Centuria Capital Group(a)

     70,425        81,429  

Centuria Industrial REIT(a)

     20,682        43,760  

Challenger Ltd.(a)

     9,092        46,983  

Charter Hall Group(a)

     7,554        61,370  

Charter Hall Long Wale REIT

     28,342        85,145  

Cochlear Ltd.

     291        40,281  

Coles Group Ltd.

     22,705        257,444  

Commonwealth Bank of Australia(a)

     30,818        2,144,261  

Computershare Ltd.

     5,557        98,734  

Cromwell Property Group(a)

     93,668        42,559  

CSL Ltd.

     1,904        371,555  

CSR Ltd.

     17,365        55,465  

Deterra Royalties Ltd.

     24,231        75,260  

Dexus

     25,754        135,354  

Dicker Data Ltd.(a)

     3,476        24,020  

Eagers Automotive Ltd.(a)

     4,456        32,787  

Elders Ltd.

     4,485        30,841  

Endeavour Group Ltd.

     16,823        73,243  

First Resources Ltd.

     41,100        45,353  

Goodman Group

     9,926        116,856  

GPT Group

     23,212        66,113  

Growthpoint Properties Australia Ltd.(a)

     21,911        44,280  

Harvey Norman Holdings Ltd.(a)

     39,835        111,568  

Healius Ltd.(a)

     12,329        25,668  

Helia Group Ltd.

     22,532        42,020  

HomeCo Daily Needs REIT

     55,188        48,092  

IGO Ltd.

     3,362        30,688  

Iluka Resources Ltd.

     4,805        31,054  

Incitec Pivot Ltd.

     48,882        124,641  

Inghams Group Ltd.

     17,278        33,511  

Insignia Financial Ltd.

     17,180        39,030  

Insurance Australia Group Ltd.

     16,169      52,084  

IVE Group Ltd.

     12,313        19,623  

JB Hi-Fi Ltd.(a)

     3,762        107,023  

Lovisa Holdings Ltd.

     2,566        40,214  

Macquarie Group Ltd.

     4,812        544,834  

McMillan Shakespeare Ltd.

     4,200        38,280  

Medibank Pvt Ltd.

     43,720        87,464  

Metcash Ltd.(a)

     26,734        72,156  

Mineral Resources Ltd.

     917        48,008  

Mirvac Group

     59,272        85,616  

MyState Ltd.

     9,273        24,651  

National Australia Bank Ltd.

     64,623        1,317,352  

New Hope Corp. Ltd.(a)

     30,226        130,366  

NIB Holdings Ltd.(a)

     7,090        37,263  

Nick Scali Ltd.(a)

     2,095        15,117  

Nine Entertainment Co. Holdings Ltd.

     63,194        78,853  

Northern Star Resources Ltd.

     10,907        80,697  

NRW Holdings Ltd.

     24,801        47,261  

Orica Ltd.

     3,560        36,358  

Origin Energy Ltd.

     30,072        157,436  

Orora Ltd.

     21,423        41,986  

Perpetual Ltd.(a)

     2,737        45,660  

Premier Investments Ltd.

     3,853        64,905  

QBE Insurance Group Ltd.

     12,022        109,491  

Qube Holdings Ltd.(a)

     24,905        47,459  

REA Group Ltd.(a)

     886        66,573  

Reece Ltd.

     4,173        40,043  

Region RE Ltd.

     32,725        60,142  

Rio Tinto Ltd.

     54,534        3,922,108  

Santos Ltd.

     39,765        192,542  

Scentre Group

     103,346        201,842  

SEEK Ltd.(a)

     4,146        58,903  

Seven Group Holdings Ltd.(a)

     3,083        43,843  

Sigma Healthcare Ltd.

     11,953        4,945  

Sims Ltd.

     7,361        65,343  

Sonic Healthcare Ltd.

     6,859        139,403  

South32 Ltd.

     212,765        577,146  

Steadfast Group Ltd.(a)

     12,286        45,575  

Stockland

     87,014        214,201  

Suncorp Group Ltd.

     13,746        112,235  

Telstra Group Ltd.(a)

     235,154        636,284  

Terracom Ltd.(a)

     22,936        14,465  

TPG Telecom Ltd.(a)

     26,016        86,273  

Transurban Group

     32,501        286,086  

Treasury Wine Estates Ltd.

     7,488        69,111  

Vicinity Ltd.

     87,398        118,538  

Viva Energy Group Ltd.(b)

     51,477        95,302  

Washington H Soul Pattinson & Co. Ltd.(a)

     3,832        71,879  

Waypoint REIT Ltd.

     22,777        42,477  

Wesfarmers Ltd.

     15,837        493,067  

Westpac Banking Corp.

     55,991        886,606  

Whitehaven Coal Ltd.

     22,364        142,865  

Woodside Energy Group Ltd.(a)

     55,141        1,325,239  

Woolworths Group Ltd.

     10,356        235,689  

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Schedule of Investments (unaudited) (continued)

WisdomTree Dynamic Currency Hedged International Equity Fund (DDWM)

December 31, 2022

 

 

 

Investments    Shares      Value  

Worley Ltd.

     7,993      $ 81,307  
     

 

 

 
Total Australia

 

     29,558,663  
Austria – 0.6%

 

Andritz AG

     1,656        94,642  

BAWAG Group AG*(b)

     2,417        128,461  

Erste Group Bank AG

     7,849        250,468  

EVN AG

     2,562        46,210  

Lenzing AG

     913        53,397  

Oesterreichische Post AG

     1,664        52,212  

OMV AG

     5,364        275,359  

S IMMO AG

     1,301        17,328  

Telekom Austria AG*

     13,253        81,754  

UNIQA Insurance Group AG

     11,440        85,465  

Verbund AG

     713        59,849  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     2,216        52,858  

Voestalpine AG

     3,631        96,027  

Wienerberger AG

     1,905        45,867  
     

 

 

 
Total Austria

 

     1,339,897  
Belgium – 1.0%

 

Ackermans & van Haaren NV

     278        47,531  

Aedifica SA

     734        59,379  

Ageas SA/NV

     6,702        296,265  

Anheuser-Busch InBev SA

     5,388        323,572  

bpost SA

     8,685        44,529  

Cofinimmo SA

     302        26,977  

D’ieteren Group

     295        56,419  

Elia Group SA/NV

     424        60,094  

Groupe Bruxelles Lambert NV

     2,160        171,926  

KBC Group NV

     9,888        634,022  

Melexis NV

     762        65,873  

Proximus SADP

     12,404        119,090  

Solvay SA

     1,330        134,080  

UCB SA

     879        69,007  

Umicore SA

     1,936        70,912  

VGP NV(a)

     783        65,014  

Warehouses De Pauw CVA

     1,820        51,862  
     

 

 

 
Total Belgium

 

     2,296,552  
Burkina Faso – 0.0%

 

Endeavour Mining PLC

     2,793        58,862  
China – 0.5%

 

BOC Hong Kong Holdings Ltd.

     221,500        754,893  

Prosus NV*

     2,225        153,045  

Wilmar International Ltd.

     88,500        275,160  
     

 

 

 
Total China

 

     1,183,098  
Denmark – 1.4%

 

Alm Brand A/S

     26,161        42,238  

AP Moller – Maersk A/S, Class B

     258        578,365  

Carlsberg A/S, Class B

     964        127,724  

Chr Hansen Holding A/S

     696        49,914  

Coloplast A/S, Class B

     1,464        170,608  

D/S Norden A/S

     1,743        104,562  

DSV A/S

     447      70,342  

Novo Nordisk A/S, Class B

     7,595        1,022,426  

Novozymes A/S, Class B

     1,053        53,180  

Orsted A/S(b)

     2,457        222,609  

Pandora A/S

     2,053        143,813  

Scandinavian Tobacco Group A/S(b)

     2,749        48,172  

Sydbank A/S

     1,005        42,203  

Topdanmark A/S

     2,849        149,404  

Tryg A/S

     6,649        157,784  
     

 

 

 
Total Denmark

 

     2,983,344  
Finland – 1.6%

 

Aktia Bank Oyj

     3,268        35,645  

Anora Group Oyj

     3,793        29,794  

Citycon Oyj*(a)

     6,836        45,635  

Elisa Oyj

     2,449        129,273  

Fortum Oyj

     21,126        350,376  

Huhtamaki Oyj

     1,265        43,202  

Kesko Oyj, Class A

     2,595        56,360  

Kesko Oyj, Class B

     5,040        110,914  

Kojamo Oyj

     2,742        40,384  

Kone Oyj, Class B

     5,314        273,927  

Konecranes Oyj

     1,220        37,447  

Metsa Board Oyj, Class B

     6,286        58,802  

Metso Outotec Oyj

     9,561        98,080  

Neste Oyj

     4,310        197,885  

Nokia Oyj

     17,411        80,404  

Nordea Bank Abp

     73,456        787,328  

Orion Oyj, Class B

     1,454        79,513  

Sampo Oyj, Class A

     10,616        553,127  

Stora Enso Oyj, Class R

     7,093        99,545  

TietoEVRY Oyj

     2,524        71,438  

UPM-Kymmene Oyj

     6,164        229,788  

Valmet Oyj

     3,442        92,425  
     

 

 

 
Total Finland

 

     3,501,292  
France – 11.2%

 

Air Liquide SA

     2,861        404,270  

Airbus SE

     3,492        413,753  

ALD SA(a)(b)

     12,872        147,817  

Arkema SA

     748        66,962  

AXA SA

     64,277        1,787,363  

BioMerieux

     455        47,550  

BNP Paribas SA

     27,975        1,589,848  

Bollore SE

     17,420        97,048  

Bouygues SA(a)

     7,142        213,729  

Bureau Veritas SA

     1,599        41,998  

Capgemini SE

     778        129,488  

Carrefour SA

     6,339        105,809  

Cie de Saint-Gobain

     5,541        269,957  

Cie Generale des Etablissements Michelin SCA

     8,928        247,596  

Coface SA

     8,510        110,259  

Danone SA

     6,682        351,077  

Dassault Aviation SA

     480        81,043  

Dassault Systemes SE

     2,079        74,319  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Schedule of Investments (unaudited) (continued)

WisdomTree Dynamic Currency Hedged International Equity Fund (DDWM)

December 31, 2022

 

 

 

Investments    Shares      Value  

Edenred

     1,544      $ 83,842  

Eiffage SA

     1,163        114,092  

Electricite de France SA

     55,428        709,866  

Elis SA

     4,451        65,650  

Engie SA

     71,882        1,027,074  

Eramet SA

     642        57,452  

EssilorLuxottica SA

     2,068        373,437  

Gaztransport Et Technigaz SA

     609        64,866  

Gecina SA

     918        93,222  

Getlink SE

     3,130        50,024  

Hermes International

     295        454,942  

Imerys SA

     1,206        46,773  

Ipsen SA

     318        34,108  

IPSOS

     789        49,260  

Kering SA

     1,018        516,612  

Klepierre SA*

     6,753        155,170  

L’Oreal SA

     3,506        1,248,257  

La Francaise des Jeux SAEM(b)

     3,467        139,052  

Legrand SA

     1,994        159,224  

LVMH Moet Hennessy Louis Vuitton SE

     4,096        2,972,152  

Metropole Television SA

     5,254        86,072  

Nexans SA

     396        35,691  

Orange SA

     77,264        765,311  

Pernod Ricard SA

     2,599        509,682  

Publicis Groupe SA*

     3,342        211,936  

Remy Cointreau SA

     241        40,536  

Rexel SA

     6,144        120,914  

Rothschild & Co.

     2,521        100,492  

Rubis SCA

     2,722        71,464  

Sanofi

     15,017        1,439,855  

Sartorius Stedim Biotech

     148        47,781  

Schneider Electric SE

     3,958        552,184  

Societe BIC SA

     584        39,858  

Societe Generale SA

     18,538        464,544  

Sodexo SA

     806        76,971  

Sopra Steria Group SACA

     333        50,182  

SPIE SA

     2,078        54,024  

Teleperformance

     234        55,616  

Thales SA

     2,008        255,664  

TotalEnergies SE(a)

     58,987        3,692,243  

Trigano SA

     8        1,089  

Valeo

     1,472        26,236  

Veolia Environnement SA

     9,205        235,777  

Verallia SA(b)

     1,539        52,034  

Vicat SA

     2,535        63,443  

Vinci SA

     6,415        638,701  

Vivendi SE

     15,714        149,495  

Wendel SE

     752        69,984  
     

 

 

 
Total France

 

     24,502,740  
Georgia – 0.0%

 

Bank of Georgia Group PLC

     1,691        52,988  
Germany – 7.4%

 

adidas AG

     1,799        244,721  

Allianz SE, Registered Shares

     7,142        1,531,319  

BASF SE

     19,673      974,004  

Bayer AG, Registered Shares

     11,388        587,334  

Bayerische Motoren Werke AG

     13,215        1,175,967  

Bechtle AG

     1,043        36,800  

Beiersdorf AG

     504        57,662  

Brenntag SE

     1,351        86,108  

Carl Zeiss Meditec AG, Bearer Shares

     345        43,411  

Dermapharm Holding SE

     627        25,107  

Deutsche Bank AG, Registered Shares

     14,974        169,207  

Deutsche Boerse AG

     1,083        186,551  

Deutsche Post AG, Registered Shares

     18,490        694,223  

Deutsche Telekom AG, Registered Shares

     77,756        1,546,675  

DWS Group GmbH & Co. KGaA(b)

     6,564        212,685  

E.ON SE

     46,767        465,879  

Encavis AG

     1,648        32,512  

Evonik Industries AG

     8,519        163,063  

Fielmann AG

     1,972        77,913  

Freenet AG

     3,713        80,918  

GEA Group AG

     1,746        71,183  

Hannover Rueck SE

     1,794        355,167  

Hapag-Lloyd AG(a)(b)

     5,458        1,034,529  

HeidelbergCement AG

     3,307        188,046  

Henkel AG & Co. KGaA

     2,011        129,311  

Hochtief AG

     1,023        57,516  

Infineon Technologies AG

     4,855        147,310  

Kloeckner & Co. SE

     5,609        55,283  

Mercedes-Benz Group AG, Registered Shares

     27,433        1,797,660  

Merck KGaA

     504        97,305  

MTU Aero Engines AG

     299        64,524  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     1,695        549,932  

Puma SE

     1,626        98,394  

Rheinmetall AG

     310        61,554  

RWE AG

     5,130        227,705  

SAP SE

     7,180        738,622  

Siemens Healthineers AG(b)

     6,095        303,973  

Siltronic AG

     1,331        96,808  

Sixt SE

     882        80,906  

Stroeer SE & Co. KGaA

     1,097        50,999  

Suedzucker AG

     1,980        34,529  

Symrise AG

     408        44,262  

Synlab AG

     2,877        34,788  

Talanx AG

     5,059        239,293  

Telefonica Deutschland Holding AG

     76,600        188,273  

United Internet AG, Registered Shares

     2,809        56,630  

Vantage Towers AG

     3,466        118,741  

Varta AG(a)

     1,712        41,184  

Volkswagen AG

     4,055        638,984  

Wacker Chemie AG

     1,138        145,015  

Wacker Neuson SE

     6,040        105,331  
     

 

 

 
Total Germany

 

     16,245,816  
Hong Kong – 3.5%

 

AIA Group Ltd.

     93,800        1,043,163  

Bank of East Asia Ltd.

     55,949        67,813  

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Schedule of Investments (unaudited) (continued)

WisdomTree Dynamic Currency Hedged International Equity Fund (DDWM)

December 31, 2022

 

 

 

Investments    Shares      Value  

Champion REIT(a)

     171,000      $ 67,480  

CLP Holdings Ltd.

     45,500        331,998  

Dah Sing Banking Group Ltd.

     42,800        30,709  

Fortune Real Estate Investment Trust

     58,000        47,114  

Hang Lung Properties Ltd.

     102,000        199,427  

Hang Seng Bank Ltd.

     20,800        345,914  

Henderson Land Development Co. Ltd.

     130,000        453,879  

Hong Kong & China Gas Co. Ltd.

     301,816        286,930  

Hong Kong Exchanges & Clearing Ltd.

     14,059        607,396  

Hutchison Port Holdings Trust

     422,100        81,887  

Hysan Development Co. Ltd.

     19,000        61,589  

Link REIT

     61,360        450,474  

MTR Corp. Ltd.

     123,143        652,402  

New World Development Co. Ltd.

     102,000        287,510  

PCCW Ltd.

     495,000        223,243  

Power Assets Holdings Ltd.

     73,500        402,581  

Singamas Container Holdings Ltd.

     120,000        11,224  

Sino Land Co. Ltd.

     234,481        293,216  

Sun Hung Kai Properties Ltd.

     74,500        1,019,430  

Swire Pacific Ltd., Class A

     13,000        114,427  

Swire Pacific Ltd., Class B

     57,500        78,239  

Swire Properties Ltd.

     98,800        251,147  

Techtronic Industries Co. Ltd.

     13,500        150,654  
     

 

 

 
Total Hong Kong

 

     7,559,846  
Indonesia – 0.0%

 

Nickel Industries Ltd.(a)

     78,536        51,661  
Ireland – 0.3%

 

AIB Group PLC

     16,448        63,476  

CRH PLC

     8,443        333,489  

Glanbia PLC

     3,788        48,189  

Kerry Group PLC, Class A

     298        26,792  

Kingspan Group PLC

     491        26,505  

Smurfit Kappa Group PLC

     3,480        128,357  
     

 

 

 
Total Ireland

 

     626,808  
Israel – 0.9%

 

Alony Hetz Properties & Investments Ltd.

     3,747        38,017  

Amot Investments Ltd.

     11,294        66,096  

Ashtrom Group Ltd.

     2,510        46,729  

Azrieli Group Ltd.

     1,193        78,981  

Bank Hapoalim BM

     12,998        116,848  

Bank Leumi Le-Israel BM

     38,370        318,726  

Bezeq The Israeli Telecommunication Corp. Ltd.

     44,486        76,465  

Big Shopping Centers Ltd.*

     409        41,729  

Carasso Motors Ltd.

     6,052        34,767  

Delek Automotive Systems Ltd.

     4,246        49,590  

Delek Group Ltd.*

     1        79  

FIBI Holdings Ltd.

     738        30,662  

First International Bank of Israel Ltd.

     1,398        55,072  

Gav-Yam Lands Corp. Ltd.

     5,680        44,107  

Harel Insurance Investments & Financial Services Ltd.

     5,034        44,241  

ICL Group Ltd.

     50,495        364,205  

Israel Discount Bank Ltd., Class A

     15,425        80,786  

Matrix IT Ltd.

     1,655      34,540  

Mivne Real Estate KD Ltd.

     13,587        43,127  

Mizrahi Tefahot Bank Ltd.

     4,776        154,169  

Phoenix Holdings Ltd.

     5,847        62,141  

Plus500 Ltd.

     2,976        64,580  

Strauss Group Ltd.

     1,672        44,206  
     

 

 

 
Total Israel

 

     1,889,863  
Italy – 2.3%

 

A2A SpA

     65,889        87,548  

ACEA SpA

     3,494        48,178  

Alerion Cleanpower SpA

     787        27,046  

Anima Holding SpA(b)

     13,770        54,993  

Assicurazioni Generali SpA

     29,617        525,179  

Azimut Holding SpA

     4,509        100,720  

Banca Generali SpA

     2,807        96,044  

Banca Mediolanum SpA

     13,904        115,715  

Banca Popolare di Sondrio SpA

     14,143        57,056  

Banco BPM SpA

     33,597        119,545  

Brembo SpA

     3,201        35,700  

Buzzi Unicem SpA

     1,843        35,405  

Credito Emiliano SpA

     9,938        70,320  

Cromwell European Real Estate Investment Trust

     33,600        53,789  

Davide Campari-Milano NV

     4,171        42,218  

De’ Longhi SpA

     1,618        36,228  

DiaSorin SpA

     249        34,653  

Eni SpA

     83,964        1,190,566  

ERG SpA

     2,502        77,331  

Esprinet SpA

     1,744        12,536  

Ferrari NV

     625        133,540  

FinecoBank Banca Fineco SpA

     6,374        105,577  

Hera SpA

     17,999        48,389  

Infrastrutture Wireless Italiane SpA(b)

     10,625        106,750  

Italgas SpA

     15,621        86,525  

Leonardo SpA

     4,466        38,417  

Mediobanca Banca di Credito Finanziario SpA(a)

     23,398        224,344  

Moncler SpA

     1,534        81,039  

Piaggio & C. SpA

     12,901        38,607  

Poste Italiane SpA(b)

     27,709        269,878  

Prysmian SpA

     1,595        59,000  

Recordati Industria Chimica e Farmaceutica SpA

     2,196        90,818  

Snam SpA

     85,176        411,523  

Terna – Rete Elettrica Nazionale

     35,238        259,493  

Unieuro SpA(a)(b)

     358        4,696  

Unipol Gruppo SpA

     15,156        73,727  

UnipolSai Assicurazioni SpA(a)

     62,281        153,012  
     

 

 

 
Total Italy

 

     5,006,105  
Japan – 19.5%

 

ABC-Mart, Inc.

     700        39,630  

ADEKA Corp.

     8,500        139,407  

Advantest Corp.

     1,200        77,123  

Aeon Co. Ltd.

     3,500        73,822  

Aeon Mall Co. Ltd.

     5,000        64,610  

AGC, Inc.(a)

     3,400        113,252  

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Schedule of Investments (unaudited) (continued)

WisdomTree Dynamic Currency Hedged International Equity Fund (DDWM)

December 31, 2022

 

 

 

Investments    Shares      Value  

Aica Kogyo Co. Ltd.(a)

     2,200      $ 52,188  

Air Water, Inc.

     3,000        34,901  

Aisin Corp.

     3,700        98,988  

Ajinomoto Co., Inc.

     2,900        88,597  

Akita Bank Ltd.

     1,500        21,748  

Alfresa Holdings Corp.

     3,600        45,728  

Amada Co. Ltd.

     10,200        79,933  

Aozora Bank Ltd.(a)

     4,000        78,669  

Asahi Group Holdings Ltd.(a)

     3,700        115,505  

Asahi Kasei Corp.

     5,700        40,668  

Astellas Pharma, Inc.

     16,600        252,438  

Autobacs Seven Co. Ltd.

     12,200        133,516  

Azbil Corp.

     1,000        25,200  

Bandai Namco Holdings, Inc.

     2,200        138,624  

BayCurrent Consulting, Inc.

     1,000        31,187  

Bridgestone Corp.(a)

     6,200        220,427  

Brother Industries Ltd.

     2,700        41,069  

Canon Marketing Japan, Inc.(a)

     3,800        86,083  

Canon, Inc.(a)

     14,500        313,803  

Capcom Co. Ltd.

     1,200        38,289  

Casio Computer Co. Ltd.(a)

     4,100        41,732  

Central Japan Railway Co.

     600        73,690  

Chiba Bank Ltd.(a)

     11,500        83,846  

Chubu Electric Power Co., Inc.

     4,900        50,580  

Chugai Pharmaceutical Co. Ltd.(a)

     19,000        484,990  

Coca-Cola Bottlers Japan Holdings, Inc.(a)

     5,300        57,722  

COMSYS Holdings Corp.

     3,300        57,899  

Concordia Financial Group Ltd.

     20,300        84,619  

Cosmo Energy Holdings Co. Ltd.

     2,400        63,481  

Dai Nippon Printing Co. Ltd.

     2,400        48,202  

Dai-ichi Life Holdings, Inc.

     12,500        283,641  

Daicel Corp.

     6,100        44,151  

Daifuku Co. Ltd.

     700        32,786  

Daiichi Sankyo Co. Ltd.

     3,400        109,515  

Daikin Industries Ltd.

     900        137,785  

Daito Trust Construction Co. Ltd.

     1,200        123,142  

Daiwa House Industry Co. Ltd.

     5,700        131,284  

Daiwa Securities Group, Inc.

     26,000        114,881  

Denka Co. Ltd.

     1,600        36,682  

Denso Corp.

     5,500        272,447  

Dentsu Group, Inc.(a)

     2,600        81,678  

DIC Corp.(a)

     3,100        54,649  

Disco Corp.

     400        114,442  

Doshisha Co. Ltd.

     12,900        158,677  

Earth Corp.

     3,100        118,883  

East Japan Railway Co.(a)

     1,500        85,490  

Ebara Corp.

     1,300        46,504  

Ehime Bank Ltd.

     3,400        23,604  

Eisai Co. Ltd.

     1,600        105,547  

Electric Power Development Co. Ltd.

     2,700        42,891  

ENEOS Holdings, Inc.

     69,000        234,279  

Exedy Corp.

     12,100        148,195  

EXEO Group, Inc.(a)

     3,800        64,742  

FANUC Corp.

     1,300        195,426  

Fast Retailing Co. Ltd.

     200      122,066  

FIDEA Holdings Co. Ltd.

     3,300        36,140  

FUJIFILM Holdings Corp.

     2,400        120,505  

Fujimi, Inc.

     800        37,895  

Fujitsu Ltd.

     700        93,452  

Fukuoka Financial Group, Inc.

     3,200        72,879  

Gunma Bank Ltd.

     12,100        46,219  

Hachijuni Bank Ltd.

     15,800        65,741  

Hakudo Co. Ltd.

     900        16,814  

Hakuhodo DY Holdings, Inc.

     4,100        41,328  

Hamamatsu Photonics KK

     900        43,109  

Hankyu Hanshin Holdings, Inc.

     1,800        53,477  

Haseko Corp.

     4,700        52,470  

Hazama Ando Corp.

     4,200        26,770  

Heiwa Corp.

     9,500        178,919  

Hirogin Holdings, Inc.

     32,300        161,812  

Hirose Electric Co. Ltd.

     500