Semiannual Report | April 30, 2022

Vanguard International Stock Index Funds

Vanguard European Stock Index Fund

Vanguard Pacific Stock Index Fund

Contents

About Your Fund’s Expenses	1
European Stock Index Fund	3
Pacific Stock Index Fund	38
Trustees Approve Advisory Arrangements	82
Liquidity Risk Management	84

About Your Fund’s Expenses

As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.

A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your fund’s costs in two ways:

•

Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, 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 given for your fund under the heading ”Expenses Paid During Period.“

•

Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.

Six Months Ended April 30, 2022
	Beginning Account Value 10/31/2021	Ending Account Value 4/30/2022	Expenses Paid During Period
Based on Actual Fund Return
European Stock Index Fund
Investor Shares	$1,000.00	$864.80	$1.16
FTSE Europe ETF Shares	1,000.00	865.40	0.46
Admiral™ Shares	1,000.00	865.20	0.55
Institutional Shares	1,000.00	865.50	0.46
Institutional Plus Shares	1,000.00	865.50	0.42
Pacific Stock Index Fund
Investor Shares	$1,000.00	$868.00	$1.07
FTSE Pacific ETF Shares	1,000.00	868.80	0.37
Admiral Shares	1,000.00	868.70	0.46
Institutional Shares	1,000.00	868.90	0.37
Based on Hypothetical 5% Yearly Return
European Stock Index Fund
Investor Shares	$1,000.00	$1,023.56	$1.25
FTSE Europe ETF Shares	1,000.00	1,024.30	0.50
Admiral Shares	1,000.00	1,024.20	0.60
Institutional Shares	1,000.00	1,024.30	0.50
Institutional Plus Shares	1,000.00	1,024.35	0.45
Pacific Stock Index Fund
Investor Shares	$1,000.00	$1,023.65	$1.15
FTSE Pacific ETF Shares	1,000.00	1,024.40	0.40
Admiral Shares	1,000.00	1,024.30	0.50
Institutional Shares	1,000.00	1,024.40	0.40

The calculations are based on expenses incurred in the most recent six-month period. The funds' annualized six-month expense ratios for that period are: for the European Stock Index Fund, 0.25% for Investor Shares, 0.10% for FTSE Europe ETF Shares, 0.12% for Admiral Shares, 0.10% for Institutional Shares and 0.09% for Institutional Plus Shares; and for the Pacific Stock Index Fund, 0.23% for Investor Shares, 0.08% for FTSE Pacific ETF Shares, 0.10% for Admiral Shares and 0.08% for Institutional Shares. The dollar amounts shown as “Expenses Paid" are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (181/365).

European Stock Index Fund

Fund Allocation

As of April 30, 2022

United Kingdom	25.7%
France	15.6
Switzerland	15.3
Germany	12.4
Netherlands	6.2
Sweden	5.8
Denmark	4.1
Italy	4.0
Spain	3.8
Finland	2.1
Belgium	1.7
Norway	1.6
Other	1.7

The table reflects the fund’s investments, except for short-term investments and derivatives.

The fund may invest in derivatives (such as futures and swap contracts) for various reasons, including, but not limited to, attempting to remain fully invested and tracking its target index as closely as possible.

European Stock Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of April 30, 2022

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.

		Shares	Market Value• ($000)
Common Stocks (99.0%)
Austria (0.5%)
	Erste Group Bank AG	658,107	20,491
	OMV AG	301,417	15,408
	Verbund AG	139,917	14,956
^*,1	BAWAG Group AG	183,191	8,699
	Wienerberger AG	243,009	6,860
	voestalpine AG	243,609	6,339
	ANDRITZ AG	146,279	6,218
^*	IMMOFINANZ AG	138,169	3,343
	Mayr Melnhof Karton AG	17,952	3,159
	Raiffeisen Bank International AG	275,072	3,131
	AT&S Austria Technologie & Systemtechnik AG	53,595	2,744
^*	Lenzing AG	29,335	2,663
	S IMMO AG	105,872	2,541
	CA Immobilien Anlagen AG	86,993	2,457
²	Oesterreichische Post AG	69,345	2,234
	Telekom Austria AG Class A	290,288	2,070
	Vienna Insurance Group AG Wiener Versicherung Gruppe	81,123	2,012
	EVN AG	77,295	1,968
	UNIQA Insurance Group AG	224,470	1,711
^*	Schoeller-Bleckmann Oilfield Equipment AG	24,169	1,383
^*	DO & CO AG	14,132	1,244
	Strabag SE (Bearer)	31,788	1,242
^*	Flughafen Wien AG	22,097	622
	Palfinger AG	21,524	545
	Agrana Beteiligungs AG	23,831	423
^*	Porr AG	29,928	379
			114,842
Belgium (1.7%)
	Anheuser-Busch InBev SA	1,839,794	105,861
	KBC Group NV	584,841	39,788
^*	Argenx SE	108,370	31,222
	UCB SA	257,004	29,214

		Shares	Market Value• ($000)
	Groupe Bruxelles Lambert SA	217,503	20,524
	Ageas SA	379,586	18,164
	Umicore SA	433,985	16,684
	Solvay SA	148,165	13,933
	Elia Group SA	74,771	11,902
	Warehouses De Pauw CVA	301,949	11,616
	Sofina SA	32,554	9,976
	Aedifica SA	76,928	9,119
	Cofinimmo SA	67,402	9,051
	Ackermans & van Haaren NV	47,311	8,434
	D'ieteren Group	48,967	7,860
	Proximus SADP	293,421	5,129
	Euronav NV	398,754	4,611
	VGP NV	17,040	4,432
	Etablissements Franz Colruyt NV	104,824	3,849
	Melexis NV	42,423	3,641
	Barco NV	145,209	3,270
	KBC Ancora	77,275	3,126
	Shurgard Self Storage SA	53,023	3,068
	Montea NV	25,274	3,018
	Telenet Group Holding NV	97,370	2,902
	Bekaert SA	76,069	2,820
	Xior Student Housing NV	46,589	2,489
	Gimv NV	40,771	2,340
	Befimmo SA	46,118	2,302
	Fagron	122,650	2,301
	Cie d'Entreprises CFE	14,407	1,882
^*	Tessenderlo Group SA	53,732	1,881
	Retail Estates NV	22,134	1,686
^*	Kinepolis Group NV	26,230	1,451
^*	bpost SA	228,958	1,387
^*	AGFA-Gevaert NV	320,933	1,285
^*	Ontex Group NV	175,269	1,214
	Econocom Group SA NV	270,445	1,033
	Orange Belgium SA	32,148	623
	Van de Velde NV	12,345	507
^*,2	Mithra Pharmaceuticals SA	47,768	466
	Wereldhave Belgium Comm VA	5,568	321
			406,382

European Stock Index Fund

		Shares	Market Value• ($000)
Denmark (4.0%)
	Novo Nordisk A/S Class B	3,382,385	386,357
	DSV A/S	414,034	67,882
	Vestas Wind Systems A/S	2,150,624	54,843
¹	Orsted A/S	400,796	44,340
^*	Genmab A/S	125,797	44,235
	Coloplast A/S Class B	283,069	38,138
	AP Moller - Maersk A/S Class B	11,595	33,559
	Novozymes A/S Class B	423,529	29,524
	Carlsberg A/S Class B	204,720	26,006
	AP Moller - Maersk A/S Class A	8,842	25,029
	Danske Bank A/S	1,407,896	21,595
	Pandora A/S	198,146	17,398
	Chr Hansen Holding A/S	219,139	17,073
	Tryg A/S	655,280	15,581
	GN Store Nord A/S	271,537	10,191
^*	Demant A/S	214,426	9,423
	Royal Unibrew A/S	102,128	8,803
	Ringkjoebing Landbobank A/S	60,654	7,438
^*	Jyske Bank A/S (Registered)	117,798	6,514
^*	ISS A/S	392,795	6,447
^*	Alaska Air Group Inc. (XCSE)	282,580	6,164
	SimCorp A/S	84,964	5,948
	Topdanmark A/S	89,689	5,033
²	Ambu A/S Class B	359,528	4,732
	Sydbank A/S	126,308	4,342
^*	NKT A/S	90,513	4,314
¹	Netcompany Group A/S	68,433	3,806
	Chemometec A/S	33,236	3,757
	ROCKWOOL International A/S Class B	13,230	3,700
	FLSmidth & Co. A/S	118,534	3,249
²	Alm Brand A/S	1,788,273	3,086
^*	Bavarian Nordic A/S	161,321	3,060
	H Lundbeck A/S	127,716	2,927
¹	Scandinavian Tobacco Group A/S Class A	125,242	2,611
^*	Dfds A/S	62,262	2,411
^*	Drilling Co. of 1972 A/S	46,043	2,296
	Spar Nord Bank A/S	167,093	2,122
	Schouw & Co. A/S	26,864	2,054
	D/S Norden A/S	52,944	1,967
^*	NTG Nordic Transport Group A/S Class A	32,216	1,749
^*	Nilfisk Holding A/S	57,517	1,610
^*,2	Zealand Pharma A/S	98,486	1,110
			942,424
Finland (2.0%)
^*	Nokia OYJ	12,013,104	60,907
	Nordea Bank Abp	5,654,691	56,378
	Sampo OYJ Class A	1,078,709	52,379
	Kone OYJ Class B	835,207	40,155
	UPM-Kymmene OYJ	1,138,034	39,367
	Neste OYJ	885,273	37,986

		Shares	Market Value• ($000)
	Stora Enso OYJ Class R	1,223,897	24,086
	Nordea Bank Abp (XHEL)	2,119,333	21,144
	Elisa OYJ	306,731	17,981
	Fortum OYJ	915,306	15,218
	Kesko OYJ Class B	570,885	14,373
	Metso Outotec OYJ	1,300,764	11,076
	Valmet OYJ	360,208	9,647
	Orion OYJ Class B	219,990	8,629
	Wartsila OYJ Abp	1,033,087	8,296
	Kojamo OYJ	415,763	8,271
	Huhtamaki OYJ	196,900	7,443
^*	Konecranes OYJ Class A	154,076	4,330
	TietoEVRY OYJ (XHEL)	163,889	4,111
	Metsa Board OYJ	359,784	3,877
	Nokian Renkaat OYJ	285,353	3,832
^*	QT Group OYJ	40,774	3,552
	Cargotec OYJ Class B	100,896	3,493
^*	Outokumpu OYJ	700,083	3,437
	Kemira OYJ	183,507	2,407
	Revenio Group OYJ	47,847	2,277
	Sanoma OYJ	156,244	1,974
	Uponor OYJ	112,134	1,970
¹	Terveystalo OYJ	155,055	1,737
	YIT OYJ	362,806	1,460
	Tokmanni Group Corp.	99,047	1,287
^*	WithSecure OYJ	221,088	1,208
^*	Citycon OYJ	154,683	1,099
	TietoEVRY OYJ	38,768	966
^*,2	Finnair OYJ	1,261,644	622
	Raisio OYJ Class V	254,346	596
	Oriola OYJ Class B	270,792	588
^*,3	Ahlstrom-Munksjo OYJ Rights	19,422	366
			478,525
France (15.5%)
	LVMH Moet Hennessy Louis Vuitton SE	531,376	343,872
	TotalEnergies SE	5,063,159	248,616
	Sanofi	2,316,854	244,880
	Schneider Electric SE	1,127,547	161,768
^*	Airbus SE	1,185,293	129,756
^*	L'Oreal SA Loyalty Shares	355,795	129,442
^*	Air Liquide SA Loyalty Shares	687,371	118,921
	BNP Paribas SA	2,279,529	118,197
	AXA SA	4,097,132	108,390
	EssilorLuxottica SA	628,449	106,992
	Vinci SA	1,068,629	103,693
	Pernod Ricard SA	444,742	91,788
	Kering SA	156,335	83,182
	Hermes International	65,933	81,299
	Safran SA	742,383	79,731
	Danone SA	1,279,697	77,385
	Capgemini SE	341,421	69,506
	Dassault Systemes SE	1,418,814	62,746
	Cie de Saint-Gobain	995,907	58,099
	L'Oreal SA (XPAR)	154,707	56,284
	Legrand SA	568,610	50,387
	STMicroelectronics NV	1,348,963	49,840
	Orange SA	4,090,392	48,698

European Stock Index Fund

		Shares	Market Value• ($000)
	Air Liquide SA (XPAR)	274,984	47,575
	Cie Generale des Etablissements Michelin SCA	372,145	46,094
	Teleperformance	123,627	44,371
	Societe Generale SA	1,621,128	38,962
	Veolia Environnement SA	1,324,243	38,637
	Publicis Groupe SA	486,531	29,210
	Engie SA Loyalty Shares	2,421,494	28,575
	Carrefour SA	1,323,488	28,068
	Credit Agricole SA	2,583,970	27,902
	Thales SA	213,936	27,389
	Edenred	530,228	26,629
	Eurofins Scientific SE	257,962	23,974
^*,1	Worldline SA	517,336	20,354
	Getlink SE	973,167	17,808
	Vivendi SE	1,523,415	17,497
	Bureau Veritas SA	606,278	17,416
	Sartorius Stedim Biotech	51,252	16,771
	Arkema SA	138,719	15,806
	Bouygues SA	455,369	15,657
	Eiffage SA	158,120	15,614
¹	Euronext NV	175,460	14,058
	Alstom SA	629,111	13,828
^*	Rexel SA	644,292	13,198
^*	Accor SA	386,602	12,701
	Gecina SA	109,348	12,318
	Engie SA (XPAR)	1,012,540	11,948
	Remy Cointreau SA	52,313	10,370
	Bollore SE	2,097,373	9,787
^*	Renault SA	390,147	9,533
	SCOR SE	332,049	9,388
	Klepierre SA	390,703	9,352
	Valeo	509,601	9,265
^*	Ubisoft Entertainment SA	202,492	9,155
	BioMerieux	90,364	8,603
^*	EDF Loyalty Shares 2024	941,514	8,559
^*	Aeroports de Paris	60,082	8,499
^*	SOITEC	46,496	8,329
^*	Sodexo SA ACT Loyalty Shares	109,891	8,267
	Dassault Aviation SA	48,840	8,196
	Alten SA	60,779	8,157
	Covivio	107,157	7,631
	Ipsen SA	73,014	7,569
	Gaztransport Et Technigaz SA	61,171	7,284
¹	Amundi SA	121,032	7,278
	SES SA Class A GDR	805,218	7,205
	CNP Assurances	319,385	7,018
¹	La Francaise des Jeux SAEM	185,051	6,910
^*	Elis SA (XPAR)	469,489	6,733
	SPIE SA	273,288	6,432
	Wendel SE	56,567	5,636
	Nexans SA	61,747	5,624
	Sopra Steria Group SACA	30,252	5,362
	SEB SA Loyalty Shares	44,083	5,294
	Rubis SCA	196,483	5,226
^*	L'Oreal SA	14,264	5,189
	Atos SE	203,050	4,947

		Shares	Market Value• ($000)
	Faurecia SE (XPAR)	214,036	4,653
^*	Air Liquide SA	26,731	4,625
	Eutelsat Communications SA	395,162	4,392
²	Electricite de France SA (XPAR)	478,321	4,348
	Eurazeo SA	54,401	4,180
¹	Verallia SA	151,866	4,175
	Sodexo SA (XPAR)	55,433	4,170
	ICADE	67,708	4,043
	IPSOS	80,385	3,870
^*	Vallourec SA	318,051	3,748
	Virbac SA	9,110	3,678
	Orpea SA	102,228	3,656
^*	Technip Energies NV	286,580	3,482
	Imerys SA	81,991	3,226
^*	JCDecaux SA	151,886	3,184
	Societe BIC SA	53,094	3,168
	Korian SA	135,719	2,850
	Nexity SA	92,623	2,813
	Eurazeo SE	36,199	2,782
^*	Coface SA	218,651	2,621
^*	Eramet SA	19,007	2,533
	Metropole Television SA	135,189	2,509
^*,2	Air France-KLM	591,995	2,439
^*,2	Valneva SE	185,148	2,370
	Rothschild & Co.	58,625	2,297
¹	ALD SA	167,977	2,284
^*	Albioma SA Loyalty Shares	42,934	2,282
^*,1,2	Neoen SA (XPAR)	55,506	2,218
	Trigano SA	16,643	2,144
	Somfy SA	16,078	2,143
	SEB SA (XPAR)	17,498	2,101
^*	Lagardere SA	78,885	2,066
^*,2	Casino Guichard Perrachon SA	116,034	2,033
	Television Francaise 1	220,414	1,867
	Interparfums SA	33,076	1,835
	Cie Plastic Omnium SA	112,539	1,822
^*	Derichebourg SA	193,991	1,751
	Fnac Darty SA	35,308	1,748
^*	CGG SA	1,514,876	1,743
^*	ID Logistics Group	4,942	1,574
¹	Maisons du Monde SA	89,037	1,519
^*	Engie SA	126,028	1,487
^*	Sodexo SA	19,189	1,444
	Carmila SA	91,815	1,428
	PEUGEOT Investment	12,369	1,382
	Quadient SA	72,981	1,365
	Altarea SCA	8,752	1,340
	Mercialys SA	138,683	1,339
^*	Voltalia SA (Registered)	61,322	1,295
	Vetoquinol SA	9,209	1,199
^*	Solutions 30 SE	176,487	1,023
	Mersen SA	30,782	1,018
^*	SES-imagotag SA	10,989	1,011
	Vicat SA	32,864	988
^*	Beneteau SA	78,530	986
	Cie de L'Odet SE	838	967
^*	Eurazeo SE (XPAR)	12,115	931
^*,1	Elior Group SA	280,038	855

European Stock Index Fund

		Shares	Market Value• ($000)
^*,1	X-Fab Silicon Foundries SE	114,995	814
	Faurecia SE	36,944	810
	Albioma SA (XPAR)	14,205	755
	Pharmagest Interactive	7,814	628
^*	Etablissements Maurel et Prom SA	137,514	627
	Vilmorin & Cie SA	12,768	607
^*,1	SMCP SA	92,980	604
	Manitou BF SA	26,135	593
	Jacquet Metals SACA	26,881	579
	Bonduelle SCA	30,228	510
^*	GL Events	27,173	505
^*	Lisi	21,296	481
^*	Believe SA	31,104	379
	AKWEL	17,843	328
	Guerbet	11,712	306
^*	Seb SA	2,385	286
	Boiron SA	5,440	239
	Lisi (XPAR)	10,408	235
^*,1	Aramis Group SAS	36,824	214
^*	Tarkett SA	14,019	197
^*	Lisi SA Prime De Fidelite	3,538	80
^*,3	Bourbon Corp.	37,237	—
			3,619,407
Germany (12.2%)
	SAP SE	2,362,705	239,451
	Allianz SE (Registered)	875,013	197,433
	Siemens AG (Registered)	1,602,356	197,018
	Bayer AG (Registered)	2,095,171	138,011
	Deutsche Telekom AG (Registered)	7,208,089	132,781
	Mercedes-Benz Group AG	1,790,765	124,998
	BASF SE	1,950,729	102,731
	Deutsche Post AG (Registered)	2,084,835	89,069
²	adidas AG	390,735	78,795
	Infineon Technologies AG	2,775,028	78,764
	Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)	298,628	71,115
	Deutsche Boerse AG	391,368	68,135
	Vonovia SE	1,656,644	66,002
	Volkswagen AG Preference Shares	390,543	60,482
	Bayerische Motoren Werke AG	683,224	55,796
	RWE AG	1,343,092	55,764
	Merck KGaA	275,610	51,133
	E.ON SE	4,619,191	48,072
^*	Deutsche Bank AG (Registered)	4,358,698	43,584
	Symrise AG Class A	277,002	32,962
¹	Siemens Healthineers AG	591,761	31,641
	Fresenius SE & Co. KGaA	867,869	30,677
	Porsche Automobil Holding SE Preference Shares	326,700	26,946

		Shares	Market Value• ($000)
	Fresenius Medical Care AG & Co. KGaA	432,962	26,925
	Brenntag SE	329,892	25,456
^*	Daimler Truck Holding AG	896,161	24,102
	Henkel AG & Co. KGaA Preference Shares	373,621	23,991
	MTU Aero Engines AG	114,002	22,990
^*	QIAGEN NV	483,137	22,281
	Beiersdorf AG	212,264	21,320
	Rheinmetall AG	91,759	20,685
	Hannover Rueck SE	128,101	19,911
	Sartorius AG Preference Shares	52,607	19,724
^*	Siemens Energy AG	973,025	18,743
^*,1	Zalando SE	467,329	18,388
	HeidelbergCement AG	309,734	17,843
¹	Covestro AG	381,983	16,446
	LEG Immobilien SE (XETR)	154,714	15,863
^*	Continental AG	231,216	15,848
	Puma SE	212,495	15,635
²	Volkswagen AG	67,786	14,700
^*	HelloFresh SE	346,151	14,592
^*	Commerzbank AG	2,204,732	14,393
^*,1	Delivery Hero SE	398,903	14,023
^*	K+S AG (Registered)	407,550	13,689
	GEA Group AG	351,578	13,686
	Henkel AG & Co. KGaA	213,417	13,544
	Aroundtown SA	2,413,801	12,138
	Evonik Industries AG	406,008	10,620
¹	Scout24 SE	159,690	10,100
	Knorr-Bremse AG	140,608	10,027
	Carl Zeiss Meditec AG (Bearer)	77,559	9,742
^*,2	Deutsche Lufthansa AG (Registered)	1,272,169	9,464
	KION Group AG	165,894	9,228
	Bayerische Motoren Werke AG Preference Shares	124,368	9,162
	Nemetschek SE	115,020	9,127
^*	CTS Eventim AG & Co. KGaA	125,473	8,612
	Aurubis AG	74,793	8,499
^*	Evotec SE	333,330	8,116
^*	thyssenkrupp AG	1,048,908	8,044
	Bechtle AG	173,429	8,014
	Freenet AG	269,021	7,443
	United Internet AG (Registered)	228,970	7,366
	LANXESS AG	181,164	7,003
	Vantage Towers AG	198,707	6,756
	HUGO BOSS AG	108,837	6,104
	AIXTRON SE	228,060	5,847
	TAG Immobilien AG	268,576	5,368
¹	Befesa SA	85,425	5,335
	Wacker Chemie AG	31,999	5,077
	Encavis AG	230,976	5,042
	FUCHS PETROLUB SE Preference Shares	151,389	4,775
	Uniper SE	184,297	4,737
^*	Talanx AG	112,042	4,659
	Gerresheimer AG	65,993	4,584

European Stock Index Fund

		Shares	Market Value• ($000)
^*,2	Sixt SE	34,287	4,458
	Rational AG	7,158	4,367
²	Aareal Bank AG	125,621	4,280
	Telefonica Deutschland Holding AG	1,410,410	4,242
^*	RTL Group SA	80,748	4,199
	Siltronic AG	44,623	4,191
^*,1	TeamViewer AG	336,642	4,039
^*	Fraport AG Frankfurt Airport Services Worldwide	74,896	4,002
²	ProSiebenSat.1 Media SE	323,979	3,728
	CANCOM SE	76,778	3,707
	Grand City Properties SA	205,142	3,622
^*	Salzgitter AG	81,209	3,371
¹	Deutsche Pfandbriefbank AG	258,823	3,257
	Software AG	102,995	3,170
^*,2	Nordex SE	217,504	3,139
	Stroeer SE & Co. KGaA	52,161	3,121
	Hella GmbH & Co. KGaA	47,998	3,030
^*	flatexDEGIRO AG	175,853	3,003
	Jenoptik AG	106,218	2,986
	Deutsche Wohnen SE	103,795	2,973
	VERBIO Vereinigte BioEnergie AG	41,556	2,945
²	Varta AG	29,465	2,757
^*	METRO AG	306,827	2,695
	CompuGroup Medical SE & Co. KGaA	50,239	2,685
	Duerr AG	102,255	2,658
	Fielmann AG	50,795	2,568
	Jungheinrich AG Preference Shares	100,738	2,464
	Pfeiffer Vacuum Technology AG	13,666	2,433
^*	SUSE SA	74,962	2,429
	HOCHTIEF AG	39,954	2,418
	Stabilus SA	51,028	2,403
¹	DWS Group GmbH & Co. KGaA	72,596	2,389
^*	Hypoport SE	8,423	2,329
	Krones AG	30,075	2,322
	Bilfinger SE	55,461	2,232
	Suedzucker AG	163,747	2,133
	Hornbach Holding AG & Co. KGaA	17,569	2,103
^*,1	Auto1 Group SE	200,083	2,095
^*	Nagarro SE	14,893	2,094
	1&1 AG	96,216	2,028
	Dermapharm Holding SE	35,787	2,023
^*	Kloeckner & Co. SE Preference Shares	151,545	1,952
^*	Vitesco Technologies Group AG Class A	44,805	1,801
	Hensoldt AG	63,916	1,780
	Deutsche EuroShop AG	107,279	1,777
	FUCHS PETROLUB SE	66,347	1,768
	Traton SE	104,520	1,742
^*	Synlab AG	116,002	1,731

		Shares	Market Value• ($000)
	STRATEC SE	15,029	1,701
²	S&T AG	100,479	1,699
	Sixt SE Preference Shares	22,733	1,643
	Norma Group SE	66,342	1,637
	KWS Saat SE & Co. KGaA	21,730	1,604
	PATRIZIA AG	90,562	1,549
	Adesso SE	7,820	1,533
^*	MorphoSys AG	70,537	1,511
	Sartorius AG	4,552	1,510
	BayWa AG	31,295	1,492
¹	Instone Real Estate Group SE	96,844	1,487
²	GRENKE AG	55,996	1,477
^1,2	ADLER Group SA	191,085	1,456
	DIC Asset AG	103,188	1,444
	GFT Technologies SE	36,294	1,442
	Eckert & Ziegler Strahlen- und Medizintechnik AG	28,714	1,441
^*	CECONOMY AG	404,744	1,387
	Zeal Network SE	35,300	1,373
^*,1,2	Shop Apotheke Europe NV	15,770	1,301
	Indus Holding AG	43,865	1,248
	Draegerwerk AG & Co. KGaA Preference Shares	25,208	1,248
	Secunet Security Networks AG	2,891	1,224
	Washtec AG	22,424	1,223
	Wacker Neuson SE	58,909	1,223
^*	Deutz AG	273,971	1,214
	Atoss Software AG	8,291	1,205
	Takkt AG	72,818	1,176
	New Work SE	6,101	1,039
	Deutsche Beteiligungs AG	31,453	977
	Basler AG	8,537	955
	Hamburger Hafen und Logistik AG	55,042	896
²	Schaeffler AG Preference Shares	161,597	868
	Wuestenrot & Wuerttembergische AG	44,645	842
²	SMA Solar Technology AG	18,323	834
^*	About You Holding SE	71,362	771
	Vossloh AG	19,328	737
^*	SGL Carbon SE	105,553	580
^*	Koenig & Bauer AG	29,389	574
	CropEnergies AG	41,817	542
^*	ElringKlinger AG	62,013	514
	Bertrandt AG	10,770	500
^*	Global Fashion Group SA	225,331	429
			2,862,272
Ireland (0.4%)
	Kerry Group plc Class A	327,899	36,188
	Kingspan Group plc	321,546	29,932
^*	Bank of Ireland Group plc	1,947,394	11,803
	Glanbia plc (XDUB)	400,050	4,769
^*	AIB Group plc	1,652,180	3,589
	Hibernia REIT plc	1,400,644	2,403

European Stock Index Fund

		Shares	Market Value• ($000)
^*	Dalata Hotel Group plc	464,391	2,121
^*	Cairn Homes plc (XDUB)	4,908	6
^*,2,3	Irish Bank Resolution Corp.	2,503,596	—
			90,811
Italy (3.9%)
	Enel SpA	16,548,931	107,616
	Eni SpA	5,276,818	73,764
	Intesa Sanpaolo SpA	35,390,673	72,116
	Ferrari NV	264,599	55,713
	Assicurazioni Generali SpA	2,765,417	52,358
	UniCredit SpA	4,568,998	42,286
	Stellantis NV	2,626,419	35,261
	CNH Industrial NV	2,142,699	30,354
	Snam SpA (MTAA)	4,731,266	25,949
^*	Atlantia SpA	1,048,389	25,010
	Terna - Rete Elettrica Nazionale	3,004,914	24,508
	Moncler SpA	458,488	23,884
	Stellantis NV (XNYS)	1,684,979	22,670
	Prysmian SpA	558,249	18,157
	FinecoBank Banca Fineco SpA	1,304,139	18,129
^*,1	Nexi SpA	1,572,933	15,427
	Tenaris SA	993,653	15,185
	EXOR NV	218,230	15,144
	Mediobanca Banca di Credito Finanziario SpA	1,471,811	14,752
	Davide Campari-Milano NV	1,045,406	11,796
	Amplifon SpA	274,775	10,962
	Banco BPM SpA	3,195,463	10,068
	Recordati Industria Chimica e Farmaceutica SpA	205,284	9,892
¹	Poste Italiane SpA	968,612	9,492
^*	Leonardo SpA	847,247	8,719
	Telecom Italia SpA	28,303,865	8,265
¹	Infrastrutture Wireless Italiane SpA	745,889	7,959
	Reply SpA	48,355	7,119
	Interpump Group SpA	169,674	6,860
	Italgas SpA	1,020,240	6,606
	DiaSorin SpA	47,815	6,263
	Hera SpA	1,667,766	6,220
	Unipol Gruppo SpA	1,027,140	5,601
	A2A SpA	3,221,917	5,505
¹	Pirelli & C SpA	1,050,805	5,208
	Azimut Holding SpA	228,597	4,852
	ERG SpA	137,495	4,737
²	Banca Generali SpA	117,513	3,885
	De' Longhi SpA	152,545	3,699
	BPER Banca	2,183,756	3,648
	Banca Mediolanum SpA	498,320	3,617
	Buzzi Unicem SpA	194,069	3,594
^*	Brunello Cucinelli SpA	69,785	3,572
	Banca Popolare di Sondrio SpA	875,250	3,476
	Iren SpA	1,293,396	3,343
^*	Autogrill SpA	410,807	3,051
	Brembo SpA	301,603	3,019
¹	Anima Holding SpA	548,665	2,673

		Shares	Market Value• ($000)
	UnipolSai Assicurazioni SpA	881,934	2,481
^*	Salvatore Ferragamo SpA	138,806	2,413
^*	Iveco Group NV	406,760	2,393
¹	BFF Bank SpA	379,851	2,369
^*,1	Enav SpA	512,804	2,367
	Falck Renewables SpA	248,101	2,310
¹	Carel Industries SpA	92,213	2,219
	Sesa SpA	15,087	2,181
¹	Technogym SpA	274,572	2,072
	Telecom Italia SpA Savings Shares	6,947,248	1,934
	Tamburi Investment Partners SpA	210,828	1,921
	ACEA SpA	90,503	1,552
	El.En. SpA	108,884	1,518
	SOL SpA	82,387	1,448
^*,2	Saipem SpA	1,248,229	1,413
¹	GVS SpA	155,425	1,295
²	Webuild SpA (MTAA)	714,536	1,215
¹	doValue SpA	138,849	1,181
	MARR SpA	71,907	1,164
¹	RAI Way SpA	196,915	1,158
	Credito Emiliano SpA	187,232	1,144
^*	Saras SpA	1,213,707	1,130
	Gruppo MutuiOnline SpA	36,884	1,129
	Danieli & C Officine Meccaniche SpA Savings Shares	70,227	1,099
	Tinexta SpA	43,410	1,086
²	Maire Tecnimont SpA	365,331	1,070
	Sanlorenzo SpA	29,097	1,029
	Italmobiliare SpA	31,739	1,006
	Banca IFIS SpA	55,367	1,005
	Piaggio & C SpA	396,294	988
	Zignago Vetro SpA	74,567	914
²	Danieli & C Officine Meccaniche SpA	34,145	727
^*	Tod's SpA	17,841	705
	Cementir Holding NV	97,369	678
^*	CIR SpA-Compagnie Industriali	1,524,625	661
^*	Immobiliare Grande Distribuzione SIIQ SpA	138,980	659
^*,2	Fincantieri SpA	1,014,173	619
^*	Arnoldo Mondadori Editore SpA	284,595	583
	MFE-MediaForEurope NV Class B	606,315	558
^*,2	Societa Cattolica Di Assicurazione SpA	83,511	541
^*	Banca Monte dei Paschi di Siena SpA	561,822	473
^*	Biesse SpA	29,449	459
^*,2	Juventus Football Club SpA	1,404,172	456
	Datalogic SpA	41,386	402
^*,2	MFE-MediaForEurope NV Class A	614,027	375
	Rizzoli Corriere Della Sera Mediagroup SpA	308,248	239
	DeA Capital SpA	25,227	34

European Stock Index Fund

		Shares	Market Value• ($000)
^*,2	Webuild SpA	61,413	32
			918,389
Netherlands (6.2%)
	ASML Holding NV	815,131	462,618
^*,1	Adyen NV	62,689	105,148
^*	Prosus NV	1,879,665	90,654
	ING Groep NV	8,057,793	76,341
	Koninklijke Ahold Delhaize NV	2,076,146	61,238
	Koninklijke DSM NV	354,339	59,568
	Wolters Kluwer NV	546,576	55,195
²	Heineken NV	507,597	49,547
	Koninklijke Philips NV	1,866,353	48,770
	Universal Music Group NV	1,587,977	36,851
	ArcelorMittal SA	1,249,233	36,425
	NN Group NV	666,238	32,633
	Akzo Nobel NV	365,727	31,725
	ASM International NV	101,614	30,534
	Koninklijke KPN NV	6,926,828	23,902
	Aegon NV	3,772,406	19,559
	IMCD NV	121,576	19,358
	Heineken Holding NV	225,447	17,599
^*	Unibail-Rodamco-Westfield	217,478	15,348
	ASR Nederland NV	279,602	12,708
	Randstad NV	234,355	12,392
¹	Signify NV	266,228	11,263
¹	ABN AMRO Bank NV GDR	878,147	10,916
^*,1	Just Eat Takeaway.com NV	382,378	10,386
	Aalberts NV	204,317	9,928
	BE Semiconductor Industries NV	155,740	9,494
^*	OCI NV	204,410	7,746
	Arcadis NV	152,686	6,371
^*	Galapagos NV	102,211	6,001
	Boskalis Westminster	170,074	5,907
	JDE Peet's NV	177,732	5,229
	SBM Offshore NV	341,081	4,943
^*,1	Basic-Fit NV	110,035	4,610
	Corbion NV	123,476	4,281
	TKH Group NV GDR	86,497	4,242
^*,1	Intertrust NV	188,356	3,887
	APERAM SA	98,897	3,817
	Koninklijke Vopak NV	139,040	3,739
^*	Accell Group NV	44,789	2,706
²	PostNL NV	803,724	2,634
^*	Fugro NV	211,531	2,591
^*	InPost SA	421,793	2,586
	Eurocommercial Properties NV	106,503	2,577
	AMG Advanced Metallurgical Group NV	61,541	2,406
^*,1	Alfen Beheer BV	23,394	2,104
¹	CTP NV	140,440	1,988
¹	Flow Traders	54,392	1,776
^*	Sligro Food Group NV	71,843	1,686
	NSI NV	41,145	1,609
^*	Koninklijke BAM Groep NV	534,479	1,479
^*	Majorel Group Luxembourg SA	47,131	1,474
²	Wereldhave NV	81,778	1,334
^*,2	TomTom NV	143,483	1,239

		Shares	Market Value• ($000)
	Vastned Retail NV	39,055	993
	Brunel International NV	44,248	514
¹	B&S Group Sarl	53,379	393
	ForFarmers NV	64,434	198
			1,443,160
Norway (1.6%)
	Equinor ASA	2,047,500	69,205
	DNB Bank ASA	2,180,409	42,250
	Mowi ASA	941,807	26,603
	Norsk Hydro ASA	2,858,903	24,008
	Telenor ASA	1,351,740	19,064
	Yara International ASA	345,426	17,564
	Orkla ASA	1,613,505	13,093
	TOMRA Systems ASA	248,706	9,780
	Aker BP ASA	268,647	9,625
	Salmar ASA	114,268	9,351
	Storebrand ASA	1,001,928	8,703
	Gjensidige Forsikring ASA	355,824	7,607
	Bakkafrost P/F	108,222	7,430
	Kongsberg Gruppen ASA	162,190	6,967
^*	Nordic Semiconductor ASA	332,268	6,606
	Leroy Seafood Group ASA	553,252	5,192
	SpareBank 1 SR-Bank ASA	374,049	4,763
^*	Adevinta ASA	591,551	4,570
	Aker ASA Class A	51,503	4,198
^*,2	NEL ASA	2,925,089	4,157
	Borregaard ASA	217,470	4,148
	Subsea 7 SA	492,974	4,041
	SpareBank 1 SMN	280,797	3,935
	TGS ASA	245,212	3,783
	Schibsted ASA Class B	193,211	3,714
	Schibsted ASA Class A	173,416	3,614
¹	Scatec ASA	247,698	2,994
	Austevoll Seafood ASA	188,105	2,982
	Veidekke ASA	226,854	2,937
¹	Elkem ASA	552,025	2,293
^*,1	Crayon Group Holding ASA	150,191	2,209
^*	Atea ASA	174,632	2,081
^*	Frontline Ltd.	250,722	2,077
^*	MPC Container Ships ASA	658,770	1,961
¹	Entra ASA	114,496	1,888
^*	Grieg Seafood ASA	120,974	1,802
	DNO ASA	1,156,622	1,753
^*	Kahoot! ASA	681,557	1,643
	Bonheur ASA	43,595	1,621
^*	Aker Carbon Capture ASA	714,404	1,443
^*	Wallenius Wilhelmsen ASA	218,761	1,373
¹	BW LPG Ltd.	169,313	1,065
	Arendals Fossekompani A/S	23,806	957
^*	Hexagon Composites ASA	240,325	950
	Sparebank 1 Oestlandet	62,717	918

European Stock Index Fund

		Shares	Market Value• ($000)
	Norway Royal Salmon ASA	30,443	798
	Stolt-Nielsen Ltd.	41,121	743
^*	Aker Horizons Holding ASA	335,967	686
	BW Offshore Ltd.	189,222	544
^*	BW Energy Ltd.	146,964	428
^*	Borr Drilling Ltd.	1,519	6
			362,123
Poland (0.5%)
^*	Powszechna Kasa Oszczednosci Bank Polski SA	1,807,219	13,338
	Polski Koncern Naftowy ORLEN SA	659,023	11,134
	KGHM Polska Miedz SA	289,813	9,375
	Powszechny Zaklad Ubezpieczen SA	1,190,246	8,229
	Bank Polska Kasa Opieki SA	332,296	7,302
^*,1	Dino Polska SA	103,284	6,682
	Polskie Gornictwo Naftowe i Gazownictwo SA	3,648,019	5,111
	LPP SA	2,387	5,044
^*,1,2	Allegro.eu SA	821,079	4,223
	Santander Bank Polska SA	62,351	3,797
²	CD Projekt SA	139,311	3,771
^*	PGE Polska Grupa Energetyczna SA	1,534,398	3,412
^*	Grupa Lotos SA	204,357	3,178
	Cyfrowy Polsat SA	579,961	3,158
	KRUK SA	39,486	2,277
^*,1	Pepco Group NV	229,145	2,140
^*	Orange Polska SA	1,365,729	2,088
	Asseco Poland SA	118,630	2,085
^*	mBank SA	26,637	1,783
^*	Jastrzebska Spolka Weglowa SA	111,420	1,688
^*	Tauron Polska Energia SA	2,187,489	1,645
^*	Alior Bank SA	195,602	1,597
^*	Bank Millennium SA	1,285,481	1,456
^*	Enea SA	453,781	980
	Bank Handlowy w Warszawie SA	69,801	940
^*	Grupa Azoty SA	99,806	900
^*,2	CCC SA	62,264	728
^*	AmRest Holdings SE	152,914	602
	Kernel Holding SA	95,996	569
	Ciech SA	57,445	512
	Warsaw Stock Exchange	56,564	495
			110,239
Portugal (0.4%)
	EDP - Energias de Portugal SA	6,034,475	28,125
	Galp Energia SGPS SA	1,101,754	13,410
	EDP Renovaveis SA	515,990	12,212
	Jeronimo Martins SGPS SA	584,250	12,162
	REN - Redes Energeticas Nacionais SGPS SA	825,720	2,517

		Shares	Market Value• ($000)
^*	Banco Comercial Portugues SA Class R	16,255,292	2,513
	Navigator Co. SA	532,787	2,186
	Sonae SGPS SA	2,007,761	2,167
	NOS SGPS SA	429,018	1,814
	CTT-Correios de Portugal SA	320,415	1,448
	Altri SGPS SA	154,537	1,026
	Corticeira Amorim SGPS SA	71,602	741
^*	Greenvolt-Energias Renovaveis SA	77,704	580
	Semapa-Sociedade de Investimento e Gestao	32,662	450
			81,351
Spain (3.7%)
	Iberdrola SA (XMAD)	12,779,049	146,842
	Banco Santander SA	35,953,551	105,069
	Banco Bilbao Vizcaya Argentaria SA	14,183,447	74,424
¹	Cellnex Telecom SA	1,295,286	60,374
^*	Amadeus IT Group SA	908,098	56,904
	Telefonica SA	10,831,101	52,689
	Industria de Diseno Textil SA	2,241,792	47,004
	Repsol SA	2,775,526	41,405
	CaixaBank SA	9,399,362	30,340
	Ferrovial SA	1,008,536	25,863
^*,1	Aena SME SA	150,131	21,305
	Red Electrica Corp. SA	912,877	18,380
	Endesa SA	672,032	14,084
	Grifols SA	745,824	12,492
	ACS Actividades de Construccion y Servicios SA	460,393	11,788
	Enagas SA	527,898	11,415
	Acciona SA	48,724	9,538
	Naturgy Energy Group SA	309,889	9,322
^*	Banco de Sabadell SA	11,910,346	9,243
	Bankinter SA	1,469,428	8,647
	Merlin Properties Socimi SA	709,779	7,711
^*	Siemens Gamesa Renewable Energy SA	475,553	7,575
	Fluidra SA	237,941	6,440
	Inmobiliaria Colonial Socimi SA	720,578	5,992
	Grifols SA Preference Shares	482,972	5,243
	Acerinox SA	459,525	4,838
	Viscofan SA	83,544	4,612
^*	Corp. ACCIONA Energias Renovables SA	104,367	3,858
	Mapfre SA	2,084,893	3,805
	Grupo Catalana Occidente SA	113,648	3,274
	Laboratorios Farmaceuticos Rovi SA	46,064	3,145
	Ebro Foods SA	160,571	2,887
^*	Solaria Energia y Medio Ambiente SA	127,589	2,831

European Stock Index Fund

		Shares	Market Value• ($000)
	Faes Farma SA	640,868	2,689
^*	Indra Sistemas SA	256,173	2,611
¹	Unicaja Banco SA	2,578,234	2,429
	Cia de Distribucion Integral Logista Holdings SA	131,848	2,429
	CIE Automotive SA	108,211	2,359
	Applus Services SA	299,116	2,333
	Pharma Mar SA	28,194	2,158
	Sacyr SA (XMAD)	773,418	2,083
	Linea Directa Aseguradora SA Cia de Seguros y Reaseguros	1,434,034	2,060
	Almirall SA	153,407	1,993
	Corp. Financiera Alba SA	31,375	1,854
^*	Melia Hotels International SA	223,940	1,852
^*	Mediaset Espana Comunicacion SA	331,751	1,485
	Construcciones y Auxiliar de Ferrocarriles SA	42,242	1,295
¹	Gestamp Automocion SA	365,364	1,193
	Fomento de Construcciones y Contratas SA	97,010	1,108
	Prosegur Cia de Seguridad SA	514,147	1,064
^*,1	Neinor Homes SA	92,666	1,050
¹	Aedas Homes SA	43,943	1,028
^*	Ence Energia y Celulosa SA	269,323	1,009
¹	Global Dominion Access SA	238,585	987
	Lar Espana Real Estate Socimi SA	127,382	668
	Atresmedia Corp. de Medios de Comunicacion SA	167,833	642
^1,2	Prosegur Cash SA	821,172	609
^*,2	Tecnicas Reunidas SA	67,317	557
^*	Distribuidora Internacional de Alimentacion SA	30,342,728	416
^*	NH Hotel Group SA (XMAD)	51,716	193
			869,493
Sweden (5.8%)
	Investor AB Class B	4,135,549	79,580
	Atlas Copco AB Class A	1,343,229	60,898
	Hexagon AB Class B	4,000,193	51,614
	Volvo AB Class B	3,223,832	51,431
	Telefonaktiebolaget LM Ericsson Class B	6,407,070	51,111
	Assa Abloy AB Class B	1,955,114	49,410
	Sandvik AB	2,297,675	43,491
¹	Evolution AB	343,413	35,234
	Skandinaviska Enskilda Banken AB Class A	3,050,438	34,208
	Essity AB Class B	1,295,611	34,167
	Swedbank AB Class A	2,142,732	33,896

		Shares	Market Value• ($000)
	Atlas Copco AB Class B	808,891	32,014
	Svenska Handelsbanken AB Class A	3,160,402	31,877
	Epiroc AB Class A	1,337,859	27,123
	Swedish Match AB	3,287,433	26,184
	Boliden AB	582,606	25,263
	Svenska Cellulosa AB SCA Class B	1,296,430	25,090
	Nibe Industrier AB Class B	2,551,273	25,014
	H & M Hennes & Mauritz AB Class B	1,870,850	23,552
	Telia Co. AB	5,490,676	22,790
	Investor AB Class A	900,420	18,807
	Alfa Laval AB	671,287	18,686
	EQT AB	601,167	17,014
	Lundin Energy AB	400,405	16,555
	Skanska AB Class B	759,325	14,505
	Tele2 AB Class B	1,060,881	14,061
	Indutrade AB	594,999	14,035
	Getinge AB Class B	478,221	13,834
	Epiroc AB Class B	789,963	13,782
	SKF AB Class B	812,745	13,274
	Industrivarden AB Class A	494,445	12,669
	Holmen AB Class B	203,720	11,775
	Castellum AB	572,496	11,337
	Trelleborg AB Class B	516,376	11,326
^*	Fastighets AB Balder Class B	213,633	10,589
	Lifco AB Class B	480,783	10,085
^*	Kinnevik AB Class B	510,024	9,982
	Sagax AB Class B	367,763	9,394
	Industrivarden AB Class C	348,689	8,780
^*	SSAB AB Class B	1,476,162	8,681
	Husqvarna AB Class B	903,347	8,635
	Beijer Ref AB Class B	517,137	8,421
	Saab AB Class B	193,733	8,195
	Investment AB Latour Class B	303,025	8,028
^*	Swedish Orphan Biovitrum AB	374,123	7,870
	Securitas AB Class B	657,027	7,757
¹	Thule Group AB	221,809	7,694
	Electrolux AB Class B	489,151	7,460
	L E Lundbergforetagen AB Class B	155,960	7,294
	Volvo AB Class A	434,520	7,144
	AddTech AB Class B	401,246	7,078
	Samhallsbyggnadsbolaget i Norden AB	2,152,595	6,762
	Fabege AB	551,763	6,697
	Avanza Bank Holding AB	262,037	6,635
	Axfood AB	221,638	6,559
	AAK AB	363,400	6,305
	Nordnet AB publ	362,672	6,290
	Sweco AB Class B	428,233	6,044
¹	Dometic Group AB	686,573	5,880
²	BillerudKorsnas AB	378,493	5,841
^*	Nordic Entertainment Group AB Class B	162,272	5,329
	AddLife AB Class B	236,255	5,220
	Elekta AB Class B	767,849	5,172

European Stock Index Fund

		Shares	Market Value• ($000)
^*,1	Sinch AB	1,168,805	5,165
	Wihlborgs Fastigheter AB	277,626	4,813
¹	Bravida Holding AB	442,213	4,533
	Hexpol AB	517,583	4,444
	Nyfosa AB	387,631	4,272
	Peab AB Class B	413,932	3,955
	Intrum AB	163,206	3,945
	Loomis AB Class B	156,854	3,908
	Wallenstam AB Class B	347,698	3,844
	Vitrolife AB	139,391	3,584
	Hexatronic Group AB	83,368	3,527
	Arjo AB Class B	467,604	3,510
	AFRY AB	203,859	3,380
^*	Sectra AB Class B	267,881	3,379
	JM AB	145,456	3,359
	Lindab International AB	143,383	3,344
	Mips AB	45,685	3,245
	Corem Property Group AB Class B	1,472,740	3,118
	Instalco AB	494,003	3,049
	Catena AB	57,264	2,990
	Hufvudstaden AB Class A	222,898	2,888
	Biotage AB	137,022	2,838
^*	SSAB AB Class A	423,430	2,689
	Bure Equity AB	114,001	2,688
	AddNode Group AB Class B	63,021	2,664
^*	Electrolux Professional AB Class B	470,318	2,636
^*	Pandox AB Class B	185,683	2,587
	Vitec Software Group AB Class B	50,726	2,556
	Nolato AB Class B	362,380	2,508
	Mycronic AB	141,828	2,480
	NCC AB Class B	196,462	2,434
	HMS Networks AB	58,597	2,398
^*	Modern Times Group MTG AB Class B	225,543	2,385
^*	Sdiptech AB Class B	61,920	2,169
	Bilia AB Class A	155,030	2,150
	Ratos AB Class B	417,163	2,128
	Cibus Nordic Real Estate AB	91,936	2,126
	Medicover AB Class B	126,615	2,097
	Bufab AB	61,871	2,053
^*	Cint Group AB	244,678	2,001
	Beijer Alma AB	92,817	1,931
^*	Stillfront Group AB	949,947	1,919
	Granges AB	220,265	1,809
	SkiStar AB	87,614	1,706
	Dios Fastigheter AB	187,517	1,674
	NP3 Fastigheter AB	58,886	1,636
^*	Betsson AB Class B	255,379	1,569
	Troax Group AB	70,181	1,559
	Atrium Ljungberg AB Class B	93,285	1,525
	Concentric AB	77,974	1,523
¹	Munters Group AB	238,381	1,424
^*,1,2	Boozt AB	135,082	1,418
	INVISIO AB	78,761	1,396
	Cloetta AB Class B	505,357	1,277
^*,2	BHG Group AB	178,441	1,229

		Shares	Market Value• ($000)
^*,1	Scandic Hotels Group AB	317,530	1,222
²	Samhallsbyggnadsbolaget i Norden AB Class D	465,344	1,221
	Platzer Fastigheter Holding AB Class B	117,365	1,192
^*	Cary Group AB	158,120	1,186
	Systemair AB	167,011	1,061
^*	Mekonomen AB	90,017	1,037
	Nobia AB	260,946	1,024
¹	Resurs Holding AB	349,779	1,017
	Clas Ohlson AB Class B	89,404	1,015
	Bonava AB Class B	186,312	904
^*	VNV Global AB	215,128	897
^*	Hemnet Group AB	69,456	867
	Sagax AB Class D	271,283	835
	Svenska Handelsbanken AB Class B	73,883	834
^*,2	SAS AB	7,883,775	817
^*	Camurus AB	45,826	755
	Investment AB Oresund	62,823	751
	Corem Property Group AB Preference Shares	23,316	730
	Fagerhult AB	145,243	729
^*	Collector AB	165,924	724
	Telefonaktiebolaget LM Ericsson Class A	82,164	695
^*	Kinnevik AB Class A	31,547	687
	Volati AB	45,819	644
^*,1	Attendo AB	227,971	617
^*,2	BICO Group AB Class B	60,483	607
	Skandinaviska Enskilda Banken AB Class C	46,679	569
^*	Hansa Biopharma AB	92,879	514
	Svenska Cellulosa AB SCA Class A	17,330	340
^*	Solid Forsakring AB	30,342	147
	NCC AB Class A	8,396	112
	Husqvarna AB Class A	10,863	105
			1,352,717
Switzerland (15.1%)
	Nestle SA (Registered)	5,863,549	756,950
	Roche Holding AG	1,515,374	561,922
	Novartis AG (Registered)	4,470,717	395,074
	Zurich Insurance Group AG	316,365	144,031
	Cie Financiere Richemont SA Class A (Registered)	1,087,579	126,367
	UBS Group AG (Registered)	6,798,751	115,420
	ABB Ltd. (Registered)	3,493,481	104,811
	Sika AG (Registered)	325,860	99,537
	Lonza Group AG (Registered)	157,829	93,061
	Givaudan SA (Registered)	19,655	78,119
	Alcon Inc.	979,629	69,946

European Stock Index Fund

		Shares	Market Value• ($000)
	Holcim Ltd.	1,167,010	57,062
	Partners Group Holding AG	47,681	50,518
	Swiss Re AG	615,641	50,487
	Geberit AG (Registered)	74,630	42,560
	Sonova Holding AG (Registered)	113,192	40,820
	Swiss Life Holding AG (Registered)	66,076	38,636
	Credit Suisse Group AG (Registered)	5,487,091	37,243
	SGS SA (Registered)	12,479	32,065
	Swisscom AG (Registered)	54,024	31,944
	Kuehne + Nagel International AG (Registered)	106,968	29,924
	Chocoladefabriken Lindt & Spruengli AG (Registered)	223	26,438
	Straumann Holding AG	215,011	25,348
	Chocoladefabriken Lindt & Spruengli AG Ptg. Ctf.	2,256	25,301
	Julius Baer Group Ltd.	452,713	21,634
	Logitech International SA (Registered)	311,224	20,254
	Vifor Pharma AG (XSWX)	103,940	18,361
	Barry Callebaut AG (Registered)	7,583	17,453
	Swatch Group AG (Bearer)	65,855	16,901
¹	VAT Group AG	54,405	16,828
	Baloise Holding AG (Registered)	94,967	16,519
	Schindler Holding AG Ptg. Ctf.	84,972	16,325
	Roche Holding AG (Bearer)	40,147	16,129
	Swiss Prime Site AG (Registered)	159,553	15,595
	SIG Combibloc Group AG	712,008	14,906
	EMS-Chemie Holding AG (Registered)	15,034	13,412
	Adecco Group AG (Registered)	335,606	12,951
	Temenos AG (Registered)	128,148	12,936
	PSP Swiss Property AG (Registered)	91,290	11,505
	Belimo Holding AG (Registered)	19,631	9,702
	Georg Fischer AG	175,058	9,500
	Helvetia Holding AG (Registered)	73,340	9,425
	Clariant AG (Registered)	481,291	8,217
	Schindler Holding AG (Registered)	42,411	8,142
	Tecan Group AG (Registered)	26,710	8,027
¹	Galenica AG	102,171	7,524
^*	Flughafen Zurich AG (Registered)	40,683	6,879
	DKSH Holding AG	76,603	6,578

		Shares	Market Value• ($000)
^*	ams AG	527,866	6,457
	Siegfried Holding AG (Registered)	8,562	6,207
	Allreal Holding AG (Registered)	31,017	5,851
	Bachem Holding AG (Registered) Class B	13,272	5,791
^*	Dufry AG (Registered)	131,776	5,245
	Daetwyler Holding AG (Bearer)	15,642	5,029
	Bucher Industries AG (Registered)	13,942	5,027
	Banque Cantonale Vaudoise (Registered)	59,207	5,004
	BKW AG	38,346	4,668
	SFS Group AG	35,796	4,483
	Cembra Money Bank AG	61,941	4,469
	Mobimo Holding AG (Registered)	15,145	4,331
^*,2	Idorsia Ltd.	251,048	4,285
	Vontobel Holding AG (Registered)	57,359	4,195
²	Stadler Rail AG	112,761	4,097
	Emmi AG (Registered)	4,069	4,033
	Interroll Holding AG (Registered)	1,255	3,804
	Inficon Holding AG (Registered)	4,051	3,688
	Swatch Group AG (Registered)	71,547	3,530
	Comet Holding AG (Registered)	15,809	3,418
	Valiant Holding AG (Registered)	33,273	3,324
	Burckhardt Compression Holding AG	6,501	3,317
	Forbo Holding AG (Registered)	2,236	3,273
	Huber + Suhner AG (Registered)	37,122	3,256
	Swissquote Group Holding SA (Registered)	17,968	2,920
	dormakaba Holding AG	6,277	2,913
	Softwareone Holding AG	212,420	2,872
	Landis+Gyr Group AG	51,300	2,863
	St. Galler Kantonalbank AG (Registered)	5,842	2,817
^*,2	Dottikon Es Holding AG (Registered)	9,229	2,784
	OC Oerlikon Corp. AG (Registered)	381,933	2,723
	Sulzer AG (Registered)	36,037	2,700
^*,1	PolyPeptide Group AG	30,736	2,690
^*,2	Meyer Burger Technology AG	5,545,003	2,627
^*,1	Sensirion Holding AG	21,367	2,563
	LEM Holding SA (Registered)	1,047	2,412
	Kardex Holding AG (Registered)	12,085	2,300
	Bystronic AG	2,690	2,232
	VZ Holding AG	27,859	2,073

European Stock Index Fund

		Shares	Market Value• ($000)
	Schweiter Technologies AG (Bearer)	2,048	2,061
^*	Komax Holding AG (Registered)	7,559	1,986
^*,2	Zur Rose Group AG	15,881	1,949
^*	Aryzta AG	1,908,712	1,777
^*,1	Medmix AG	51,143	1,718
	Intershop Holding AG	2,497	1,626
	Arbonia AG	90,272	1,608
	Zehnder Group AG	19,816	1,550
^*,1	Medacta Group SA	13,421	1,529
^*	Bobst Group SA (Registered)	17,640	1,488
	Leonteq AG	21,602	1,470
^*	Valora Holding AG (Registered)	8,562	1,400
	EFG International AG	183,460	1,383
	ALSO Holding AG (Registered)	6,107	1,381
	Bossard Holding AG (Registered) Class A	5,928	1,283
^*	u-blox Holding AG	14,795	1,229
	Vifor Pharma AG	6,667	1,189
^*,2	COSMO Pharmaceuticals NV	20,621	1,179
	Vetropack Holding AG Class A (Registered)	27,565	1,134
	Bell Food Group AG (Registered)	4,158	1,130
^*,1	Medartis Holding AG	10,168	1,071
	Ypsomed Holding AG (Registered)	7,125	1,018
^*	Rieter Holding AG (Registered)	7,027	955
^*,2	Basilea Pharmaceutica AG (Registered)	25,544	854
^*	Implenia AG (Registered)	35,544	804
^*	Ascom Holding AG (Registered)	89,945	796
	Hiag Immobilien Holding AG	7,602	790
	Autoneum Holding AG	6,187	732
^*,1	Montana Aerospace AG	47,417	723
	VP Bank AG Class A	5,715	572
^*,2	Swiss Steel Holding AG	1,640,023	465
^*	APG SGA SA	2,162	412
^*	Aryzta AG (XSWX)	24,200	28
	Mobimo Holding AG Rights Exp. 5/3/22	3,203	11
			3,534,859
United Kingdom (25.5%)
	AstraZeneca plc	3,298,056	440,097
	Shell plc (XLON)	15,090,896	405,129
	HSBC Holdings plc	43,534,378	272,052
	Diageo plc	4,891,966	244,055
	GlaxoSmithKline plc	10,532,011	237,419
	British American Tobacco plc	4,863,991	203,861
	BP plc	40,886,596	197,392
^*	Glencore plc	27,959,197	172,275
	Rio Tinto plc	2,315,896	163,632
	Unilever plc (XLON)	2,872,918	133,562
	Unilever plc	2,568,823	119,230
	RELX plc	3,961,126	118,004

		Shares	Market Value• ($000)
	Anglo American plc	2,594,740	114,924
	National Grid plc	7,694,578	114,318
	Reckitt Benckiser Group plc	1,350,207	105,297
	Vodafone Group plc	57,613,173	87,224
	Lloyds Banking Group plc	150,990,825	85,757
	Compass Group plc	3,801,294	80,214
	London Stock Exchange Group plc	773,759	76,286
	Prudential plc (XLON)	5,853,992	72,873
	Experian plc	1,949,703	67,332
	CRH plc (XDUB)	1,651,716	65,774
	Barclays plc	35,676,949	65,579
	BAE Systems plc	6,768,310	62,517
	Ferguson plc	472,001	59,212
	Tesco plc	16,074,899	54,612
	SSE plc	2,272,036	52,770
	Ashtead Group plc	953,328	49,294
	Aviva plc	7,970,625	42,763
	Segro plc	2,552,530	42,735
	Imperial Brands plc	2,011,032	41,861
	Legal & General Group plc	12,610,423	39,308
^*	Flutter Entertainment plc (XDUB)	372,517	37,627
	Standard Chartered plc	5,365,525	36,680
	3i Group plc	2,027,897	33,187
	BT Group plc	14,772,408	32,759
	Shell plc	1,191,185	32,163
	Smith & Nephew plc	1,873,938	30,374
	WPP plc	2,358,405	29,397
	Natwest Group plc	10,940,777	29,352
	Croda International plc	286,857	27,861
	Bunzl plc	720,125	27,783
	Rentokil Initial plc	3,963,876	27,225
^*	InterContinental Hotels Group plc	392,774	25,075
	Halma plc	806,573	24,758
	Spirax-Sarco Engineering plc	156,095	23,554
	Smurfit Kappa Group plc	553,466	23,387
^*	Entain plc	1,239,955	23,299
^*	Informa plc	3,201,271	22,709
	Intertek Group plc	344,450	21,464
	Severn Trent plc	535,110	21,031
	United Utilities Group plc	1,457,977	20,952
	Next plc	271,825	20,360
	Sage Group plc	2,192,544	20,120
	Mondi plc (XLON)	1,035,610	19,455
^*	Rolls-Royce Holdings plc	17,883,052	18,333
	St. James's Place plc	1,139,218	18,307
	Persimmon plc	676,898	17,629
	Burberry Group plc	841,949	16,616
^*	Meggitt plc	1,666,156	16,153
	DCC plc	209,679	15,887
	Pearson plc	1,606,245	15,596
¹	Auto Trader Group plc	1,973,783	15,577
	Smiths Group plc	828,960	15,169
	Admiral Group plc	475,041	14,953
^*	Whitbread plc	427,457	14,921
	Associated British Foods plc	739,001	14,788
	M&G plc	5,515,051	14,642

European Stock Index Fund

		Shares	Market Value• ($000)
	Land Securities Group plc	1,510,320	14,165
	Antofagasta plc	735,318	14,077
	Kingfisher plc	4,402,267	13,883
	Rightmove plc	1,802,683	13,857
	Melrose Industries plc	9,183,105	13,344
	Barratt Developments plc	2,150,732	13,158
	Electrocomponents plc	998,231	13,029
	British Land Co. plc	1,985,283	12,788
^*	Centrica plc	12,470,012	12,355
	B&M European Value Retail SA	1,995,925	12,229
	Tritax Big Box REIT plc	3,966,732	12,109
	Taylor Wimpey plc	7,677,719	12,075
	Phoenix Group Holdings plc	1,559,424	11,812
^*	Ocado Group plc	1,031,623	11,798
	Howden Joinery Group plc	1,213,209	11,486
	Intermediate Capital Group plc	590,059	11,292
	Berkeley Group Holdings plc	221,273	11,222
	DS Smith plc	2,715,571	11,159
	Johnson Matthey plc	395,532	10,880
	Abrdn plc	4,572,322	10,736
	J Sainsbury plc	3,647,608	10,643
	Weir Group plc	549,066	10,555
	Dechra Pharmaceuticals plc	222,342	10,075
	Tate & Lyle plc	996,471	9,685
	Endeavour Mining plc	394,258	9,615
	UNITE Group plc	677,194	9,589
	IMI plc	549,234	9,246
	Hargreaves Lansdown plc	804,128	9,206
¹	ConvaTec Group plc	3,426,683	9,065
^*	Coca-Cola HBC AG	444,857	9,019
	Direct Line Insurance Group plc	2,834,917	8,998
	Diploma plc	257,433	8,830
	IG Group Holdings plc	847,030	8,657
^*	JD Sports Fashion plc	5,234,749	8,625
	Drax Group plc	849,894	8,589
	Spectris plc	234,350	8,571
¹	Avast plc	1,208,739	8,570
	Hiscox Ltd.	711,692	8,451
	Hikma Pharmaceuticals plc	358,424	8,420
	Schroders plc	237,619	8,388
	Man Group plc	2,852,219	8,313
	Investec plc	1,407,893	8,292
	Derwent London plc	215,297	8,169
	Royal Mail plc	1,901,011	8,148
	Bellway plc	262,918	7,985
	Pennon Group plc	567,141	7,881
	HomeServe plc	597,599	7,344
^*	ITV plc	7,936,993	7,329
	Inchcape plc	818,955	7,328
^*	Marks & Spencer Group plc	4,150,729	7,086
	Travis Perkins plc	459,794	7,013
^*	Beazley plc	1,292,130	6,960
	LondonMetric Property plc	2,050,662	6,931
	Safestore Holdings plc	439,170	6,909

		Shares	Market Value• ($000)
	AVEVA Group plc	253,907	6,824
	Rotork plc	1,839,053	6,710
	Future plc	240,901	6,598
^*,2	TUI AG	2,312,594	6,593
	Big Yellow Group plc	360,769	6,520
	Games Workshop Group plc	69,539	6,427
^*	Harbour Energy plc	999,117	6,265
^*,1	Watches of Switzerland Group plc	493,141	6,235
	Greggs plc	212,106	6,188
	Ultra Electronics Holdings plc	148,787	6,060
	Britvic plc	560,128	6,002
	Grainger plc	1,564,323	5,819
^*	Virgin Money UK plc	2,643,173	5,735
	Grafton Group plc	472,247	5,719
	OSB Group plc	801,082	5,592
¹	Quilter plc	3,370,609	5,552
^*	easyJet plc	796,680	5,521
	Computacenter plc	163,996	5,510
^*	Carnival plc	333,454	5,228
	Primary Health Properties plc	2,836,899	5,145
	Hays plc	3,347,131	5,141
	QinetiQ Group plc	1,208,809	5,129
^*	Indivior plc	1,301,811	5,099
	Assura plc	6,162,685	5,084
^*	SSP Group plc	1,678,814	4,955
	Serco Group plc	2,590,923	4,900
	Vistry Group plc	468,652	4,889
^*	Wise plc Class A	986,774	4,836
^*	WH Smith plc	267,570	4,814
^*	IWG plc	1,552,529	4,713
	Great Portland Estates plc	546,211	4,639
	Softcat plc	261,950	4,626
	Cranswick plc	110,038	4,376
	Close Brothers Group plc	314,593	4,362
	Shaftesbury plc	581,385	4,354
	Genus plc	136,568	4,291
^*	S4 Capital plc	1,113,435	4,211
	Domino's Pizza Group plc	963,943	4,207
	Balfour Beatty plc	1,378,526	4,177
^*	Playtech plc	638,899	4,176
^*	International Consolidated Airlines Group SA	2,346,567	4,159
	Victrex plc	180,870	4,124
	Plus500 Ltd.	209,351	4,077
	Pagegroup plc	655,671	4,012
	Brewin Dolphin Holdings plc	624,536	4,000
	Pets at Home Group plc	1,013,143	3,933
^*	Mediclinic International plc	839,533	3,892
^*	John Wood Group plc	1,395,264	3,880
	Renishaw plc	73,285	3,873
¹	Airtel Africa plc	2,093,772	3,831
	Savills plc	283,783	3,818
^*,1	Deliveroo plc Class A	2,758,073	3,812
	Fresnillo plc	387,413	3,749
^*	Sanne Group plc	324,016	3,697

European Stock Index Fund

		Shares	Market Value• ($000)
	Spirent Communications plc	1,272,356	3,679
^*	Energean plc	248,657	3,655
^*	National Express Group plc	1,153,803	3,576
^*	Ascential plc	898,693	3,563
^*,1	Trainline plc	1,000,309	3,531
	Marshalls plc	450,099	3,444
	Sirius Real Estate Ltd.	2,263,895	3,441
²	Hammerson plc	9,358,939	3,379
	Rathbones Group plc	126,616	3,342
^*,1	Countryside Partnerships plc	1,063,269	3,320
	Oxford Instruments plc	114,014	3,306
^*,1	Network International Holdings plc	995,869	3,253
	Paragon Banking Group plc	523,250	3,236
	Redrow plc	491,687	3,223
^*	Frasers Group plc	379,296	3,221
	Capital & Counties Properties plc	1,558,108	3,219
	Dr. Martens plc	1,213,004	3,172
	Bodycote plc	390,973	3,032
	Dunelm Group plc	242,050	2,964
	Synthomer plc	773,247	2,942
	LXI REIT plc	1,560,963	2,898
	Hill & Smith Holdings plc	167,047	2,889
	Euromoney Institutional Investor plc	232,920	2,872
	Telecom Plus plc	139,116	2,870
^*	Molten Ventures plc	327,718	2,826
	Micro Focus International plc	587,666	2,775
^*	Darktrace plc	512,735	2,766
	Genuit Group plc	489,038	2,761
¹	JTC plc	282,128	2,739
	IntegraFin Holdings plc	604,739	2,727
	TP ICAP Group plc	1,646,928	2,724
	Lancashire Holdings Ltd.	511,618	2,712
	Coats Group plc	3,023,205	2,673
^*	THG plc Class B	1,988,529	2,670
	Ashmore Group plc	959,324	2,652
	Redde Northgate plc	523,551	2,590
	Centamin plc	2,257,035	2,587
	Chemring Group plc	584,887	2,554
^*,1	Wizz Air Holdings plc	63,324	2,477
	Essentra plc	631,833	2,476
	Currys plc	2,117,620	2,455
	Clarkson plc	51,849	2,387
	Moneysupermarket.com Group plc	1,087,029	2,381
	Workspace Group plc	282,406	2,363
	Bytes Technology Group plc (XLON)	420,508	2,338
^*	Just Group plc	2,157,156	2,279
	Hilton Food Group plc	149,520	2,269
	Morgan Sindall Group plc	84,093	2,267
^*	Helios Towers plc	1,603,818	2,264
	FDM Group Holdings plc	179,045	2,260

		Shares	Market Value• ($000)
	Ninety One plc	678,110	2,259
^*	Firstgroup plc	1,574,735	2,211
^*	C&C Group plc	834,473	2,178
	IP Group plc	2,100,891	2,166
	Premier Foods plc	1,504,629	2,098
^*,1	Bridgepoint Group plc (Registered)	547,418	2,094
	Morgan Advanced Materials plc	596,702	2,093
^*	Tullow Oil plc	3,001,015	2,090
^*	Auction Technology Group plc	185,931	2,046
	Volution Group plc	399,564	2,035
	Jupiter Fund Management plc	907,441	2,025
^*,1	Petershill Partners plc	624,643	2,020
^*	Babcock International Group plc	524,387	2,002
¹	Biffa plc	459,985	1,995
	Mitie Group plc	2,937,860	1,981
¹	Ibstock plc	814,399	1,923
	AJ Bell plc	605,069	1,875
^*	Capricorn Energy plc	710,943	1,829
	Vesuvius plc	448,740	1,824
^*	Elementis plc	1,194,629	1,815
	Kainos Group plc	117,064	1,774
	Liontrust Asset Management plc	121,851	1,768
	Rhi Magnesita NV	58,646	1,745
^*	Provident Financial plc	534,307	1,710
	UK Commercial Property REIT Ltd.	1,531,167	1,687
	Crest Nicholson Holdings plc	517,857	1,629
^*	J D Wetherspoon plc	178,813	1,625
	BMO Commercial Property Trust Ltd.	1,100,098	1,624
^*,1	Spire Healthcare Group plc	588,893	1,590
^*	Greencore Group plc	1,086,945	1,562
	Keller Group plc	147,469	1,554
^*	Petrofac Ltd. (XLON)	918,792	1,549
^*	Mitchells & Butlers plc	527,604	1,503
^*,1,2	Aston Martin Lagonda Global Holdings plc	142,865	1,497
	Picton Property Income Ltd.	1,151,842	1,468
¹	Vivo Energy plc	807,930	1,461
^*	Senior plc	884,784	1,424
¹	TI Fluid Systems plc Class B	682,485	1,387
	NCC Group plc	610,228	1,385
	888 Holdings plc	558,897	1,335
	Wickes Group plc	557,444	1,329
	Halfords Group plc	463,905	1,320
^*	Moonpig Group plc	548,346	1,318
	XP Power Ltd.	32,044	1,283
	Ferrexpo plc	610,831	1,254
	Bank of Georgia Group plc	81,135	1,250
	AG Barr plc	169,749	1,235
^*	Marston's plc	1,303,565	1,225
	TBC Bank Group plc	76,077	1,200
^*	Restaurant Group plc	1,519,576	1,163
	Helical plc	211,967	1,153
^*	Stagecoach Group plc	859,991	1,133
^*	Oxford Biomedica plc	152,729	1,101
^*	Capita plc	3,550,414	1,060

European Stock Index Fund

		Shares	Market Value• ($000)
	PZ Cussons plc	388,693	997
	Hochschild Mining plc	657,065	965
	Devro plc	359,218	945
^*,1	Trustpilot Group plc	695,075	900
¹	ContourGlobal plc	368,755	886
^*	Alphawave IP Group plc	445,448	842
¹	CMC Markets plc	229,620	833
	CLS Holdings plc	320,434	819
	Avon Protection plc	60,064	798
^*,2	Cineworld Group plc	2,071,960	793
^*	SIG plc	1,393,922	721
^*	PureTech Health plc	326,488	691
^*	Rank Group plc	436,652	587
²	Micro Focus International plc ADR	122,776	571
^*,2	AO World plc	590,069	553
¹	Alfa Financial Software Holdings plc	193,927	439
¹	Bakkavor Group plc	318,197	422
^*,1	Funding Circle Holdings plc	326,658	298
^*,1,3	Finablr plc	304,209	42
^*,2,3	Intu Properties plc	1,544,041	—
³	Evraz plc	1,326,266	—
^*,3	NMC Health plc	157,105	—
^*,3	Carillion plc	1,000,411	—
			5,956,480
Total Common Stocks (Cost $26,684,753)			23,143,474
Temporary Cash Investments (0.6%)
Money Market Fund (0.6%)
^4,5	Vanguard Market Liquidity Fund, 0.409% (Cost $131,829)	1,318,434	131,830
Total Investments (99.6%) (Cost $26,816,582)			23,275,304
Other Assets and Liabilities—Net (0.4%)			94,658
Net Assets (100%)			23,369,962
Cost is in $000.

•	See Note A in Notes to Financial Statements.
*	Non-income-producing security.
1	Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At April 30, 2022, the aggregate value was $737,392,000, representing 3.2% of net assets.
2	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $92,799,000.
3	Security value determined using significant unobservable inputs.
4	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
5	Collateral of $98,904,000 was received for securities on loan.

ADR—American Depositary Receipt.
GDR—Global Depositary Receipt.
Ptg. Ctf.—Participating Certificates.
REIT—Real Estate Investment Trust.

European Stock Index Fund

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
			($000)
	Expiration	Number of Long (Short) Contracts	Notional Amount	Value and Unrealized Appreciation (Depreciation)
Long Futures Contracts
Euro Stoxx 50 Index	June 2022	2,446	96,404	(944)
FTSE 100 Index	June 2022	744	70,287	169
MSCI Europe Index	June 2022	2,791	81,589	(195)
				(970)

Forward Currency Contracts
	Contract Settlement Date	Contract Amount (000)				Unrealized Appreciation ($000)	Unrealized Depreciation ($000)
Counterparty	Contract Settlement Date	Receive		Deliver		Unrealized Appreciation ($000)	Unrealized Depreciation ($000)
Bank of America, N.A.	6/15/22	CHF	18,341	USD	19,365	—	(465)
State Street Bank & Trust Co.	6/15/22	CHF	13,681	USD	14,755	—	(657)
HSBC Bank plc	6/15/22	CHF	4,704	USD	5,065	—	(219)
HSBC Bank plc	6/15/22	DKK	29,564	USD	4,417	—	(215)
Deutsche Bank AG	6/15/22	EUR	59,412	USD	64,893	—	(2,080)
Bank of America, N.A.	6/15/22	EUR	44,165	USD	48,237	—	(1,544)
Morgan Stanley Capital Services Inc.	6/15/22	EUR	29,543	USD	32,424	—	(1,189)
State Street Bank & Trust Co.	6/15/22	EUR	26,322	USD	28,093	—	(263)
Royal Bank of Canada	6/15/22	EUR	7,307	USD	8,069	—	(343)
JPMorgan Chase Bank, N.A.	6/15/22	EUR	3,022	USD	3,337	—	(142)
Standard Chartered Bank	6/15/22	GBP	28,481	USD	37,309	—	(1,494)
JPMorgan Chase Bank, N.A.	6/15/22	GBP	18,982	USD	24,671	—	(801)
Goldman Sachs International	6/15/22	GBP	16,218	USD	21,064	—	(670)
Bank of America, N.A.	6/15/22	GBP	7,823	USD	10,262	—	(423)
UBS AG	6/15/22	USD	80,904	CHF	74,261	4,380	—
State Street Bank & Trust Co.	6/15/22	USD	12,396	CHF	11,629	413	—
Barclays Bank plc	6/15/22	USD	7,049	CHF	6,558	291	—
BNP Paribas	6/15/22	USD	3,119	CHF	3,018	9	—
JPMorgan Chase Bank, N.A.	6/15/22	USD	13,299	DKK	90,091	493	—
Bank of America, N.A.	6/15/22	USD	24,815	EUR	22,468	1,060	—
BNP Paribas	6/15/22	USD	21,421	EUR	19,654	642	—
State Street Bank & Trust Co.	6/15/22	USD	7,646	EUR	7,126	111	—
JPMorgan Chase Bank, N.A.	6/15/22	USD	6,668	EUR	6,136	181	—
HSBC Bank plc	6/15/22	USD	6,747	EUR	6,085	314	—
Toronto-Dominion Bank	6/15/22	USD	6,746	EUR	6,085	314	—
JPMorgan Chase Bank, N.A.	6/15/22	USD	4,847	EUR	4,599	—	(16)
HSBC Bank plc	6/15/22	USD	26,790	GBP	20,553	944	—
State Street Bank & Trust Co.	6/15/22	USD	15,440	GBP	12,310	—	(40)
Morgan Stanley Capital Services Inc.	6/15/22	USD	9,679	GBP	7,363	420	—
BNP Paribas	6/15/22	USD	5,866	GBP	4,500	207	—
BNP Paribas	6/15/22	USD	1,552	GBP	1,241	—	(9)
BNP Paribas	6/15/22	USD	2,894	NOK	27,126	1	—

European Stock Index Fund

Forward Currency Contracts (continued)
	Contract Settlement Date	Contract Amount (000)				Unrealized Appreciation ($000)	Unrealized Depreciation ($000)
Counterparty	Contract Settlement Date	Receive		Deliver		Unrealized Appreciation ($000)	Unrealized Depreciation ($000)
JPMorgan Chase Bank, N.A.	6/15/22	USD	4,105	SEK	38,510	178	—
BNP Paribas	6/15/22	USD	1,543	SEK	15,203	—	(7)
JPMorgan Chase Bank, N.A.	6/15/22	USD	537	SEK	5,292	—	(3)
						9,958	(10,580)

CHF—Swiss franc.

DKK—Danish krone.

EUR—euro.

GBP—British pound.

NOK—Norwegian krone.

SEK—Swedish krona.

USD—U.S. dollar.

At April 30, 2022, the counterparties had deposited in segregated accounts securities with a value of $4,680,000 and cash of $400,000 in connection with open forward currency contracts.

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Statement of Assets and Liabilities

As of April 30, 2022


($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value¹
Unaffiliated Issuers (Cost $26,684,753)	23,143,474
Affiliated Issuers (Cost $131,829)	131,830
Total Investments in Securities	23,275,304
Investment in Vanguard	869
Cash Collateral Pledged—Futures Contracts	20,173
Cash Collateral Pledged—Forward Currency Contracts	4,670
Cash Collateral Received for ETF Capital Activity	87,343
Foreign Currency, at Value (Cost $10,902)	10,734
Receivables for Investment Securities Sold	3,242
Receivables for Accrued Income	161,282
Receivables for Capital Shares Issued	840
Variation Margin Receivable—Futures Contracts	3,755
Unrealized Appreciation—Forward Currency Contracts	9,958
Total Assets	23,578,170
Liabilities
Due to Custodian	6,406
Payables for Investment Securities Purchased	3,293
Collateral for Securities on Loan	98,904
Collateral for ETF Capital Activity	87,343
Payables for Capital Shares Redeemed	840
Payables to Vanguard	842
Unrealized Depreciation—Forward Currency Contracts	10,580
Total Liabilities	208,208
Net Assets	23,369,962
1 Includes $92,799 of securities on loan.

European Stock Index Fund

Statement of Assets and Liabilities (continued)
At April 30, 2022, net assets consisted of:
($000s, except shares and per-share amounts)	Amount
Paid-in Capital	27,529,065
Total Distributable Earnings (Loss)	(4,159,103)
Net Assets	23,369,962

Investor Shares—Net Assets
Applicable to 701,482 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	22,112
Net Asset Value Per Share—Investor Shares	$31.52

ETF Shares—Net Assets
Applicable to 306,429,710 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	17,977,001
Net Asset Value Per Share—ETF Shares	$58.67

Admiral Shares—Net Assets
Applicable to 61,593,168 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	4,520,422
Net Asset Value Per Share—Admiral Shares	$73.39

Institutional Shares—Net Assets
Applicable to 24,249,512 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	758,918
Net Asset Value Per Share—Institutional Shares	$31.30

Institutional Plus Shares—Net Assets
Applicable to 654,409 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	91,509
Net Asset Value Per Share—Institutional Plus Shares	$139.84

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Statement of Operations


	Six Months Ended April 30, 2022
	($000)
Investment Income
Income
Dividends¹	430,162
Interest²	34
Securities Lending—Net	1,932
Total Income	432,128
Expenses
The Vanguard Group—Note B
Investment Advisory Services	747
Management and Administrative—Investor Shares	22
Management and Administrative—ETF Shares	4,288
Management and Administrative—Admiral Shares	1,355
Management and Administrative—Institutional Shares	169
Management and Administrative—Institutional Plus Shares	15
Marketing and Distribution—Investor Shares	1
Marketing and Distribution—ETF Shares	262
Marketing and Distribution—Admiral Shares	99
Marketing and Distribution—Institutional Shares	13
Marketing and Distribution—Institutional Plus Shares	1
Custodian Fees	581
Shareholders’ Reports—Investor Shares	2
Shareholders’ Reports—ETF Shares	58
Shareholders’ Reports—Admiral Shares	45
Shareholders’ Reports—Institutional Shares	—
Shareholders’ Reports—Institutional Plus Shares	—
Trustees’ Fees and Expenses	7
Professional Services	3,575
Other Expenses	11
Total Expenses	11,251
Net Investment Income	420,877
Realized Net Gain (Loss)
Investment Securities Sold^2,3	376,232
Futures Contracts	(5,657)
Forward Currency Contracts	(12,570)
Foreign Currencies	(844)
Realized Net Gain (Loss)	357,161

European Stock Index Fund

Statement of Operations (continued)
	Six Months Ended April 30, 2022
	($000)
Change in Unrealized Appreciation (Depreciation)
Investment Securities²	(4,589,070)
Futures Contracts	(5,029)
Forward Currency Contracts	3,569
Foreign Currencies	(10,088)
Change in Unrealized Appreciation (Depreciation)	(4,600,618)
Net Increase (Decrease) in Net Assets Resulting from Operations	(3,822,580)

1	Dividends include foreign tax reclaims of $46,312,000 and are net of foreign withholding taxes of $41,387,000.
2	Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $32,000, ($25,000), $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes.
3	Includes $588,070,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Statement of Changes in Net Assets


	Six Months Ended April 30, 2022	Year Ended October 31, 2021
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	420,877	688,146
Realized Net Gain (Loss)	357,161	(233,500)
Change in Unrealized Appreciation (Depreciation)	(4,600,618)	6,552,030
Net Increase (Decrease) in Net Assets Resulting from Operations	(3,822,580)	7,006,676
Distributions
Investor Shares	(292)	(669)
ETF Shares	(265,763)	(493,410)
Admiral Shares	(62,067)	(133,268)
Institutional Shares	(10,353)	(22,925)
Institutional Plus Shares	(1,265)	(2,736)
Total Distributions	(339,740)	(653,008)
Capital Share Transactions
Investor Shares	(1,080)	489
ETF Shares	(322,703)	5,282,588
Admiral Shares	30,167	17,451
Institutional Shares	27,275	(118,833)
Institutional Plus Shares	1,265	8,237
Net Increase (Decrease) from Capital Share Transactions	(265,076)	5,189,932
Total Increase (Decrease)	(4,427,396)	11,543,600
Net Assets
Beginning of Period	27,797,358	16,253,758
End of Period	23,369,962	27,797,358

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Financial Highlights

Investor Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$36.88	$26.63	$29.84	$27.85	$31.44	$25.27
Investment Operations
Net Investment Income¹	.516	.982	.627	1.053	.968	.827
Net Realized and Unrealized Gain (Loss) on Investments	(5.464)	10.174	(3.221)	1.913	(3.572)	6.109
Total from Investment Operations	(4.948)	11.156	(2.594)	2.966	(2.604)	6.936
Distributions
Dividends from Net Investment Income	(.412)	(.906)	(.616)	(.976)	(.986)	(.766)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.412)	(.906)	(.616)	(.976)	(.986)	(.766)
Net Asset Value, End of Period	$31.52	$36.88	$26.63	$29.84	$27.85	$31.44
Total Return²	-13.52%	42.12%	-8.68%	10.90%	-8.53%	27.77%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$22	$27	$19	$25	$543	$701
Ratio of Total Expenses to Average Net Assets	0.25%	0.23%	0.23%	0.23%	0.23%	0.26%
Ratio of Net Investment Income to Average Net Assets	2.76%	2.82%	2.23%	3.72%	3.14%	2.81%
Portfolio Turnover Rate³	2%	3%	3%	3%	6%	4%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Financial Highlights

FTSE Europe ETF Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$68.65	$49.57	$55.54	$51.84	$58.54	$47.05
Investment Operations
Net Investment Income¹	1.007	1.922	1.247	1.854	1.912	1.567
Net Realized and Unrealized Gain (Loss) on Investments	(10.170)	18.939	(5.990)	3.744	(6.689)	11.434
Total from Investment Operations	(9.163)	20.861	(4.743)	5.598	(4.777)	13.001
Distributions
Dividends from Net Investment Income	(.817)	(1.781)	(1.227)	(1.898)	(1.923)	(1.511)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.817)	(1.781)	(1.227)	(1.898)	(1.923)	(1.511)
Net Asset Value, End of Period	$58.67	$68.65	$49.57	$55.54	$51.84	$58.54
Total Return	-13.46%	42.34%	-8.50%	11.08%	-8.44%	27.98%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$17,977	$21,547	$11,659	$13,067	$14,624	$17,880
Ratio of Total Expenses to Average Net Assets	0.10%	0.08%	0.08%	0.08%	0.09%	0.10%
Ratio of Net Investment Income to Average Net Assets	2.92%	2.95%	2.38%	3.50%	3.28%	2.97%
Portfolio Turnover Rate²	2%	3%	3%	3%	6%	4%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Financial Highlights

Admiral Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$85.88	$62.01	$69.48	$64.84	$73.23	$58.85
Investment Operations
Net Investment Income¹	1.268	2.375	1.553	2.298	2.353	2.016
Net Realized and Unrealized Gain (Loss) on Investments	(12.744)	23.705	(7.502)	4.693	(8.338)	14.251
Total from Investment Operations	(11.476)	26.080	(5.949)	6.991	(5.985)	16.267
Distributions
Dividends from Net Investment Income	(1.014)	(2.210)	(1.521)	(2.351)	(2.405)	(1.887)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(1.014)	(2.210)	(1.521)	(2.351)	(2.405)	(1.887)
Net Asset Value, End of Period	$73.39	$85.88	$62.01	$69.48	$64.84	$73.23
Total Return²	-13.48%	42.30%	-8.55%	11.05%	-8.43%	27.99%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$4,520	$5,259	$3,795	$4,671	$4,174	$4,754
Ratio of Total Expenses to Average Net Assets	0.12%	0.10%	0.10%	0.10%	0.10%	0.10%
Ratio of Net Investment Income to Average Net Assets	2.93%	2.93%	2.37%	3.47%	3.27%	2.97%
Portfolio Turnover Rate³	2%	3%	3%	3%	6%	4%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Financial Highlights

Institutional Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$36.62	$26.44	$29.63	$27.65	$31.23	$25.10
Investment Operations
Net Investment Income¹	.548	1.019	.667	.993	1.014	.873
Net Realized and Unrealized Gain (Loss) on Investments	(5.432)	10.110	(3.203)	1.998	(3.564)	6.068
Total from Investment Operations	(4.884)	11.129	(2.536)	2.991	(2.550)	6.941
Distributions
Dividends from Net Investment Income	(.436)	(.949)	(.654)	(1.011)	(1.030)	(.811)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.436)	(.949)	(.654)	(1.011)	(1.030)	(.811)
Net Asset Value, End of Period	$31.30	$36.62	$26.44	$29.63	$27.65	$31.23
Total Return	-13.45%	42.34%	-8.54%	11.09%	-8.42%	28.00%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$759	$859	$710	$870	$760	$756
Ratio of Total Expenses to Average Net Assets	0.10%	0.08%	0.08%	0.08%	0.08%	0.08%
Ratio of Net Investment Income to Average Net Assets	2.97%	2.96%	2.39%	3.51%	3.29%	2.99%
Portfolio Turnover Rate²	2%	3%	3%	3%	6%	4%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Financial Highlights

Institutional Plus Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$163.62	$118.14	$132.38	$123.55	$139.48	$112.09
Investment Operations
Net Investment Income¹	2.442	4.576	2.989	4.197	4.711	3.910
Net Realized and Unrealized Gain (Loss) on Investments	(24.267)	45.160	(14.294)	9.160	(16.018)	27.110
Total from Investment Operations	(21.825)	49.736	(11.305)	13.357	(11.307)	31.020
Distributions
Dividends from Net Investment Income	(1.955)	(4.256)	(2.935)	(4.527)	(4.623)	(3.630)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(1.955)	(4.256)	(2.935)	(4.527)	(4.623)	(3.630)
Net Asset Value, End of Period	$139.84	$163.62	$118.14	$132.38	$123.55	$139.48
Total Return	-13.45%	42.35%	-8.52%	11.08%	-8.36%	28.03%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$92	$106	$70	$106	$170	$122
Ratio of Total Expenses to Average Net Assets	0.09%	0.07%	0.07%	0.07%	0.07%	0.07%
Ratio of Net Investment Income to Average Net Assets	2.97%	2.95%	2.40%	3.34%	3.30%	3.00%
Portfolio Turnover Rate²	2%	3%	3%	3%	6%	4%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

European Stock Index Fund

Notes to Financial Statements

Vanguard European Stock Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, ETF Shares, Admiral Shares, Institutional Shares, and Institutional Plus Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares, known as Vanguard FTSE Europe ETF Shares, are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

The fund invests in securities of foreign issuers, which may subject it to investment risks not normally associated with investing in securities of U.S. corporations. Further, at April 30, 2022, the fund had a concentration of its investments in securities issued in United Kingdom, and the performance of such investments may be impacted by the country's social, political, and economic conditions. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.

A.	The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued at their fair values calculated according to procedures adopted by the board of trustees. These procedures include obtaining quotations from an independent pricing service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds), between the time the foreign markets close and the fund’s pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

2. Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund’s pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased, combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses) until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

3. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated

European Stock Index Fund

with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended April 30, 2022, the fund’s average investments in long and short futures contracts represented 1% and 0% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

4. Forward Currency Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. The fund’s risks in using these contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the contracts. The fund mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate the forward currency contracts, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

Forward currency contracts are valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on forward currency contracts.

European Stock Index Fund

During the six months ended April 30, 2022, the fund’s average investment in forward currency contracts represented 2% of net assets, based on the average of the notional amounts at each quarter-end during the period.

5. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.

6. Distributions: Distributions to shareholders are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

7. Securities Lending: To earn additional income, the fund lends its securities to qualified institutional borrowers. Security loans are subject to termination by the fund at any time, and are required to be secured at all times by collateral in an amount at least equal to the market value of securities loaned. Daily market fluctuations could cause the value of loaned securities to be more or less than the value of the collateral received. When this occurs, the collateral is adjusted and settled before the opening of the market on the next business day. The fund further mitigates its counterparty risk by entering into securities lending transactions only with a diverse group of prequalified counterparties, monitoring their financial strength, and entering into master securities lending agreements with its counterparties. The master securities lending agreements provide that, in the event of a counterparty’s default (including bankruptcy), the fund may terminate any loans with that borrower, determine the net amount owed, and sell or retain the collateral up to the net amount owed to the fund; however, such actions may be subject to legal proceedings. While collateral mitigates counterparty risk, in the event of a default, the fund may experience delays and costs in recovering the securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability in the Statement of Assets and Liabilities for the return of the collateral, during the period the securities are on loan. Collateral investments in Vanguard Market Liquidity Fund are subject to market appreciation or depreciation. Securities lending income represents fees charged to borrowers plus income earned on invested cash collateral, less expenses associated with the loan. During the term of the loan, the fund is entitled to all distributions made on or in respect of the loaned securities.

8. Collateral for ETF Capital Activity: When an authorized participant fails to deliver one or more of the securities within a designated basket (in the case of a subscription), fails to deliver the fund ETF Shares (in the case of a redemption), or is required by the fund, prior to settlement, to accommodate the trading of foreign securities in local markets (in the case of redemption for an international equity ETF), the fund may require the authorized participant to deliver and maintain cash collateral in accordance with the authorized participant agreement. The fund may invest the collateral in short-term debt instruments or U.S. Treasury securities, or maintain the balance as cash. Daily market fluctuations could cause the value of the missing securities or fund ETF Shares to be more or less than the value of the collateral received; when this occurs the collateral is adjusted. The fund earns interest income from investments and/or custody fee offsets from the cash balance. The fund records an asset (cash or investment, as applicable) and a corresponding liability for the return of the collateral in the Statement of Assets and Liabilities. Interest income and custody fee offsets earned on the investment of collateral are included in the Statement of Operations.

European Stock Index Fund

9. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended April 30, 2022, the fund did not utilize the credit facilities or the Interfund Lending Program.

10. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Taxes on foreign dividends and capital gains have been provided for in accordance with the fund's understanding of the applicable countries' tax rules and rates. Deferred foreign capital gains tax, if any, is accrued daily based upon net unrealized gains. The fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union countries. These filings are subject to various administrative and judicial proceedings within these countries. Such tax reclaims received and related professional fees incurred during the year, if any, are included in dividend income and professional services, respectively. No other amounts for additional tax reclaims are reflected in the financial statements due to the uncertainty as to the ultimate resolution of proceedings, the likelihood of receipt of these reclaims, and the potential timing of payment.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of

European Stock Index Fund

trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At April 30, 2022, the fund had contributed to Vanguard capital in the amount of $869,000, representing less than 0.01% of the fund’s net assets and 0.35% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.

The following table summarizes the market value of the fund’s investments and derivatives as of April 30, 2022, based on the inputs used to value them:

	Level 1 ($000)	Level 2 ($000)	Level 3 ($000)	Total ($000)
Investments
Assets
Common Stocks	571	23,142,495	408	23,143,474
Temporary Cash Investments	131,830	—	—	131,830
Total	132,401	23,142,495	408	23,275,304
Derivative Financial Instruments
Assets
Futures Contracts¹	169	—	—	169
Forward Currency Contracts	—	9,958	—	9,958
Total	169	9,958	—	10,127
Liabilities
Futures Contracts¹	1,139	—	—	1,139
Forward Currency Contracts	—	10,580	—	10,580
Total	1,139	10,580	—	11,719

1	Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.

European Stock Index Fund

D.	At April 30, 2022, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:

Statement of Assets and Liabilities	Equity Contracts ($000)	Foreign Exchange Contracts ($000)	Total ($000)
Unrealized Appreciation—Futures Contracts¹	169	—	169
Unrealized Appreciation—Forward Currency Contracts	—	9,958	9,958
Total Assets	169	9,958	10,127

Unrealized Depreciation—Futures Contracts	1,139	—	1,139
Unrealized Depreciation—Forward Currency Contracts	—	10,580	10,580
Total Liabilities	1,139	10,580	11,719

1	Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.

Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the six months ended April 30, 2022, were:

Realized Net Gain (Loss) on Derivatives	Equity Contracts ($000)	Foreign Exchange Contracts ($000)	Total ($000)
Futures Contracts	(5,657)	—	(5,657)
Forward Currency Contracts	—	(12,570)	(12,570)
Realized Net Gain (Loss) on Derivatives	(5,657)	(12,570)	(18,227)
Change in Unrealized Appreciation (Depreciation) on Derivatives
Futures Contracts	(5,029)	—	(5,029)
Forward Currency Contracts	—	3,569	3,569
Change in Unrealized Appreciation (Depreciation) on Derivatives	(5,029)	3,569	(1,460)

E.	As of April 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount ($000)
Tax Cost	26,994,573
Gross Unrealized Appreciation	2,908,052
Gross Unrealized Depreciation	(6,628,913)
Net Unrealized Appreciation (Depreciation)	(3,720,861)

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at October 31, 2021, the fund had available capital losses totaling $1,083,572,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending October 31, 2022; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

European Stock Index Fund

F.	During the six months ended April 30, 2022, the fund purchased $1,958,046,000 of investment securities and sold $2,192,105,000 of investment securities, other than temporary cash investments. Purchases and sales include $1,207,228,000 and $1,728,261,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.
G.	Capital share transactions for each class of shares were:

	Six Months Ended April 30, 2022		Year Ended October 31, 2021
	Amount ($000)	Shares (000)	Amount ($000)	Shares (000)
Investor Shares
Issued	963	27	3,204	92
Issued in Lieu of Cash Distributions	292	9	668	19
Redeemed	(2,335)	(67)	(3,383)	(97)
Net Increase (Decrease)—Investor Shares	(1,080)	(31)	489	14
ETF Shares
Issued	1,412,094	20,956	5,436,002	81,366
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	(1,734,797)	(28,400)	(153,414)	(2,700)
Net Increase (Decrease)—ETF Shares	(322,703)	(7,444)	5,282,588	78,666
Admiral Shares
Issued	292,967	3,617	551,466	6,752
Issued in Lieu of Cash Distributions	51,243	631	109,362	1,347
Redeemed	(314,043)	(3,895)	(643,377)	(8,067)
Net Increase (Decrease)—Admiral Shares	30,167	353	17,451	32
Institutional Shares
Issued	53,737	1,561	92,524	2,656
Issued in Lieu of Cash Distributions	7,415	214	16,447	477
Redeemed	(33,877)	(977)	(227,804)	(6,526)
Net Increase (Decrease)—Institutional Shares	27,275	798	(118,833)	(3,393)
Institutional Plus Shares
Issued	—	—	13,728	84
Issued in Lieu of Cash Distributions	1,265	8	2,736	18
Redeemed	—	—	(8,227)	(50)
Net Increase (Decrease)—Institutional Plus Shares	1,265	8	8,237	52

H.	Management has determined that no events or transactions occurred subsequent to April 30, 2022, that would require recognition or disclosure in these financial statements.

Pacific Stock Index Fund

Fund Allocation

As of April 30, 2022

Japan	54.7%
Australia	20.4
South Korea	13.5
Hong Kong	7.2
Singapore	3.3
Other	0.9

The table reflects the fund’s investments, except for short-term investments and derivatives.

Pacific Stock Index Fund

Financial Statements (unaudited)

Schedule of Investments

As of April 30, 2022

		Shares	Market Value• ($000)
Common Stocks (99.0%)
Australia (20.2%)
	BHP Group Ltd.	5,285,094	176,604
	Commonwealth Bank of Australia	1,795,404	130,496
	CSL Ltd.	502,084	95,823
	National Australia Bank Ltd.	3,410,065	77,847
	Westpac Banking Corp.	3,682,273	61,641
	Australia & New Zealand Banking Group Ltd.	2,961,938	56,363
	Macquarie Group Ltd.	365,066	52,556
	Wesfarmers Ltd.	1,190,478	41,194
	Woolworths Group Ltd.	1,272,323	34,420
	Transurban Group (XASX)	3,198,475	32,118
	Goodman Group	1,928,320	32,095
	Rio Tinto Ltd.	390,502	30,890
	Fortescue Metals Group Ltd.	1,672,434	25,276
	Woodside Petroleum Ltd.	1,010,695	21,989
	Amcor plc GDR	1,622,368	19,235
	Santos Ltd.	3,229,003	18,044
	Newcrest Mining Ltd.	939,458	17,642
	Coles Group Ltd.	1,334,138	17,542
	South32 Ltd.	4,908,540	16,347
	Aristocrat Leisure Ltd.	703,922	16,333
	James Hardie Industries plc GDR	466,770	13,456
	QBE Insurance Group Ltd.	1,545,758	13,336
	Sonic Healthcare Ltd.	500,819	12,934
	Telstra Corp. Ltd.	4,348,691	12,344
	ASX Ltd.	202,667	12,253
	Scentre Group	5,453,181	11,362
	Brambles Ltd.	1,504,893	11,113
	Cochlear Ltd.	67,277	10,836
	Suncorp Group Ltd.	1,338,292	10,745
	Ramsay Health Care Ltd.	182,881	10,378
	Computershare Ltd. (XASX)	563,381	9,932
	APA Group	1,232,340	9,902
	Dexus (XASX)	1,132,496	8,855
	Origin Energy Ltd.	1,839,570	8,799
^*	Xero Ltd.	131,313	8,659
	Tabcorp Holdings Ltd.	2,186,983	8,364
	Insurance Australia Group Ltd.	2,588,827	8,267

		Shares	Market Value• ($000)
	Northern Star Resources Ltd.	1,190,841	8,186
	BlueScope Steel Ltd.	526,253	7,481
	Endeavour Group Ltd.	1,333,542	7,300
	Stockland	2,502,312	7,243
	SEEK Ltd.	366,917	7,190
	GPT Group	2,012,632	7,155
	Mirvac Group	4,128,615	6,978
	Medibank Pvt Ltd.	2,876,852	6,465
	Lendlease Corp. Ltd.	715,795	6,132
	Treasury Wine Estates Ltd.	752,796	5,956
^*	Lynas Rare Earths Ltd.	945,700	5,934
	Mineral Resources Ltd.	146,018	5,933
	Ampol Ltd.	251,672	5,917
	IGO Ltd.	648,662	5,898
	OZ Minerals Ltd.	337,089	5,851
	Incitec Pivot Ltd.	2,041,286	5,505
	Washington H Soul Pattinson & Co. Ltd.	279,833	5,453
^*	Pilbara Minerals Ltd.	2,762,061	5,358
	Aurizon Holdings Ltd.	1,855,764	5,241
	Charter Hall Group	487,588	5,240
	Vicinity Centres	3,987,795	5,203
	Evolution Mining Ltd.	1,820,788	5,152
	WiseTech Global Ltd.	164,870	5,111
^*	Allkem Ltd.	609,101	5,076
	Atlas Arteria Ltd.	1,015,187	4,932
	Orica Ltd.	427,224	4,909
	REA Group Ltd.	52,889	4,738
	ALS Ltd.	504,748	4,571
	JB Hi-Fi Ltd.	118,693	4,396
	Bendigo & Adelaide Bank Ltd.	582,012	4,339
	carsales.com Ltd.	284,308	4,197
	AGL Energy Ltd.	684,834	4,163
	Worley Ltd.	396,096	3,852
	Bank of Queensland Ltd.	668,865	3,795
^*	NEXTDC Ltd.	483,040	3,750
	Steadfast Group Ltd.	1,018,732	3,688
	IDP Education Ltd.	191,836	3,559
	Challenger Ltd.	689,819	3,490
	Metcash Ltd.	1,022,432	3,432
	Iluka Resources Ltd.	438,031	3,431
	Reece Ltd.	277,870	3,376
	Alumina Ltd.	2,663,688	3,354
^*	Crown Resorts Ltd.	368,842	3,340
	Domino's Pizza Enterprises Ltd.	63,575	3,333

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Qube Holdings Ltd.	1,567,455	3,239
	Whitehaven Coal Ltd.	919,820	3,159
	Cleanaway Waste Management Ltd.	1,400,144	3,138
^*	Qantas Airways Ltd.	785,107	3,042
	Nine Entertainment Co. Holdings Ltd.	1,530,200	2,868
	Downer EDI Ltd.	727,323	2,814
^*	AMP Ltd.	3,442,446	2,781
	Altium Ltd.	114,504	2,579
	Orora Ltd.	917,915	2,572
	Shopping Centres Australasia Property Group	1,190,931	2,549
	Ansell Ltd.	133,007	2,548
	Charter Hall Long Wale REIT	676,465	2,539
¹	Breville Group Ltd.	148,278	2,457
	Sims Ltd.	169,936	2,457
^*	Uniti Group Ltd.	704,116	2,431
	Champion Iron Ltd.	467,957	2,372
	nib holdings Ltd.	470,521	2,343
^*,1	Flight Centre Travel Group Ltd.	145,941	2,279
	Reliance Worldwide Corp. Ltd.	830,441	2,279
	Harvey Norman Holdings Ltd.	631,998	2,251
	National Storage REIT	1,218,396	2,207
	CSR Ltd.	509,319	2,181
	Beach Energy Ltd.	1,885,081	2,149
^*	Corporate Travel Management Ltd.	115,043	2,076
	Seven Group Holdings Ltd.	148,399	2,070
	Technology One Ltd.	280,832	2,027
^*	Star Entertainment Grp Ltd.	883,335	1,951
	ARB Corp. Ltd.	69,799	1,935
^*	Liontown Resources Ltd.	1,888,808	1,893
	Healius Ltd.	594,249	1,870
	Perseus Mining Ltd.	1,322,276	1,840
	Link Administration Holdings Ltd.	514,089	1,820
	Eagers Automotive Ltd.	196,886	1,820
	GrainCorp Ltd. Class A	249,949	1,806
^*	AVZ Minerals Ltd.	2,673,048	1,796
²	Viva Energy Group Ltd.	888,856	1,744
	Sandfire Resources Ltd. (XASX)	436,042	1,728
	Elders Ltd.	169,438	1,703
	Bapcor Ltd.	353,645	1,676
¹	Magellan Financial Group Ltd.	147,031	1,663
^*	Lake Resources NL	1,227,063	1,648
	Insignia Financial Ltd.	682,533	1,641
^*	Core Lithium Ltd.	1,717,002	1,630
^*	Chalice Mining Ltd.	333,930	1,603
^*	Webjet Ltd.	385,391	1,599
	Deterra Royalties Ltd.	467,442	1,584
	TPG Telecom Ltd.	385,647	1,581
	Nufarm Ltd.	349,003	1,570
	IRESS Ltd.	200,954	1,546
	Charter Hall Retail REIT	494,632	1,545
	Centuria Industrial REIT	550,009	1,533
	BWP Trust	524,470	1,524

		Shares	Market Value• ($000)
	HomeCo Daily Needs REIT	1,509,976	1,517
	Premier Investments Ltd.	85,016	1,506
	Waypoint REIT Ltd.	794,605	1,498
	Centuria Capital Group	756,278	1,469
	Pendal Group Ltd.	395,531	1,456
	Pro Medicus Ltd.	42,998	1,406
	InvoCare Ltd.	161,094	1,382
	Perpetual Ltd.	59,937	1,378
	Johns Lyng Group Ltd.	215,300	1,348
	GUD Holdings Ltd.	143,864	1,292
	Super Retail Group Ltd.	173,339	1,283
	Ingenia Communities Group	389,036	1,281
^*	Paladin Energy Ltd.	2,256,870	1,242
²	Coronado Global Resources Inc. GDR	770,068	1,241
	AUB Group Ltd.	75,223	1,218
	Nickel Mines Ltd.	1,327,886	1,217
^*	EVENT Hospitality and Entertainment Ltd.	117,710	1,205
^*	De Grey Mining Ltd.	1,423,376	1,198
	Abacus Property Group	516,851	1,186
¹	Credit Corp. Group Ltd.	60,743	1,162
	Costa Group Holdings Ltd. (XASX)	489,763	1,145
	Bega Cheese Ltd.	317,100	1,119
	Arena REIT	327,340	1,108
^*	Silver Lake Resources Ltd.	844,901	1,104
	Brickworks Ltd.	65,957	1,096
	Lifestyle Communities Ltd.	102,182	1,077
	Boral Ltd.	424,437	1,059
	Regis Resources Ltd.	720,175	1,055
	Adbri Ltd.	502,528	1,026
^*	West African Resources Ltd.	1,075,823	1,026
	Charter Hall Social Infrastructure REIT	359,068	1,016
	Gold Road Resources Ltd.	916,033	1,001
^*	Capricorn Metals Ltd.	342,267	996
^*	Western Areas Ltd.	361,110	976
	Ramelius Resources Ltd.	913,332	970
^*	ioneer Ltd.	2,087,775	970
	HUB24 Ltd.	57,715	964
	IPH Ltd.	180,763	958
	Cromwell Property Group	1,595,139	957
^*	Jervois Global Ltd.	1,443,240	917
	Growthpoint Properties Australia Ltd.	292,378	899
	Genworth Mortgage Insurance Australia Ltd.	424,025	892
	Rural Funds Group	414,832	892
^*	Calix Ltd.	142,555	873
^*	Mincor Resources NL	495,846	872
^*	Imugene Ltd.	5,785,173	866
^*	Firefinch Ltd.	1,123,856	866
^*	Megaport Ltd.	142,564	847
^*	Syrah Resources Ltd.	606,674	826
^*	Novonix Ltd.	233,225	826
^*	Karoon Energy Ltd.	571,581	821
	Collins Foods Ltd.	113,005	809
	Centuria Office REIT	519,865	801

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Blackmores Ltd.	15,719	796
	Platinum Asset Management Ltd.	594,501	778
	United Malt Grp Ltd.	265,762	777
	Netwealth Group Ltd.	85,183	771
	G8 Education Ltd.	979,362	755
^*	PEXA Group Ltd.	59,928	752
	Kelsian Group Ltd.	132,357	733
	St. Barbara Ltd.	771,390	721
	Hansen Technologies Ltd.	186,082	720
^*	5E Advanced Materials Inc.	280,189	709
	Domain Holdings Australia Ltd.	288,103	702
^*	Nanosonics Ltd.	253,139	700
	Jumbo Interactive Ltd.	57,338	697
^*	Aussie Broadband Ltd.	178,882	696
	Select Harvests Ltd.	148,977	688
¹	New Hope Corp. Ltd.	278,339	686
	Imdex Ltd.	391,212	686
	Monadelphous Group Ltd.	91,114	679
	Home Consortium Ltd.	143,312	676
	Data#3 Ltd.	163,173	663
	Hotel Property Investments	231,409	662
	Irongate Group	486,493	658
	Pinnacle Investment Management Group Ltd.	99,802	652
	Codan Ltd.	128,178	639
^*	Bellevue Gold Ltd.	948,453	638
	NRW Holdings Ltd.	446,307	608
	Lovisa Holdings Ltd.	52,501	601
^*	Omni Bridgeway Ltd.	252,996	594
^*	Vulcan Energy Resources Ltd.	97,558	564
	Integral Diagnostics Ltd.	198,768	551
	Appen Ltd.	119,671	547
	Tassal Group Ltd.	205,298	544
^*	Eclipx Group Ltd.	277,137	543
	SmartGroup Corp. Ltd.	85,971	538
	oOh!media Ltd.	483,329	529
^*	Telix Pharmaceuticals Ltd.	165,448	529
^*	Neometals Ltd.	479,942	521
	Clinuvel Pharmaceuticals Ltd.	44,502	512
	Dexus Industria REIT	213,043	510
^*	29Metals Ltd.	264,654	501
^*,1	Mesoblast Ltd.	663,736	499
	Baby Bunting Group Ltd.	148,688	486
^*,1	PointsBet Holdings Ltd.	235,534	480
	Austal Ltd.	336,995	480
^*,1	Temple & Webster Group Ltd.	117,324	479
	Dicker Data Ltd.	51,580	477
	Australian Ethical Investment Ltd.	116,891	475
^*	Australian Strategic Materials Ltd.	106,962	474
	GDI Property Group	591,218	470
^*	Seven West Media Ltd.	944,690	462
	GWA Group Ltd.	284,175	454
^*,2	Life360 Inc. GDR	161,836	444
	MyState Ltd.	124,369	436
^*,1	PolyNovo Ltd.	652,923	427

		Shares	Market Value• ($000)
^*	OFX Group Ltd.	232,625	418
	McMillan Shakespeare Ltd.	49,417	412
^*	Aurelia Metals Ltd.	1,297,631	410
	Australian Clinical Labs Ltd.	113,556	410
^*	Alkane Resources Ltd.	554,737	397
	Accent Group Ltd.	388,847	391
	Infomedia Ltd.	426,775	379
	Westgold Resources Ltd.	326,171	377
	Inghams Group Ltd.	173,765	376
^*,1	Zip Co. Ltd.	507,824	374
³	Virtus Health Ltd.	64,455	373
	Estia Health Ltd.	227,759	372
^*	Australian Agricultural Co. Ltd.	300,551	365
^*	Praemium Ltd.	791,650	359
¹	Mount Gibson Iron Ltd.	729,086	358
	Sigma Healthcare Ltd.	1,010,729	356
	Perenti Global Ltd.	710,134	353
	Nick Scali Ltd.	49,214	351
	Australian Finance Group Ltd.	244,738	348
^*	EML Payments Ltd.	319,933	346
^*	City Chic Collective Ltd.	164,145	342
^*	Incannex Healthcare Ltd.	1,210,995	342
^*	nearmap Ltd.	401,646	340
^*	Mayne Pharma Group Ltd.	1,684,349	337
	Money3 Corp. Ltd.	179,057	329
^*	Cooper Energy Ltd.	1,607,812	328
	Pact Group Holdings Ltd.	202,727	327
^*	Service Stream Ltd.	527,035	325
	Emeco Holdings Ltd.	525,435	309
	Bravura Solutions Ltd.	233,347	309
	Southern Cross Media Group Ltd.	249,608	302
^*,1	Tyro Payments Ltd.	351,544	300
^*	Betmakers Technology Group Ltd.	720,130	288
^*	Resolute Mining Ltd.	1,149,510	284
^*,1	Superloop Ltd.	413,524	276
^*,1	Audinate Group Ltd.	62,076	266
	Myer Holdings Ltd.	770,082	263
^*	Opthea Ltd.	334,358	240
^*	Carnarvon Energy Ltd.	1,411,159	233
^*	Fineos Corp. Ltd. GDR	144,735	229
^*	Starpharma Holdings Ltd. Class A	380,693	228
	Jupiter Mines Ltd.	1,264,559	218
^*,1	Andromeda Metals Ltd.	3,008,784	210
	SG Fleet Group Ltd.	119,815	207
	Macmahon Holdings Ltd.	1,732,096	206
¹	Humm Group Ltd.	334,630	194
^*	Dubber Corp. Ltd.	266,462	192
^*,1	Kogan.com Ltd.	70,421	191
	Cedar Woods Properties Ltd.	57,580	188
^*	Nuix Ltd.	216,050	187
^*,1	Electro Optic Systems Holdings Ltd.	120,473	185
	Regis Healthcare Ltd.	116,544	172
¹	BWX Ltd.	127,960	168
	MACA Ltd.	285,913	162
^*,1	Bubs Australia Ltd.	516,937	159

Pacific Stock Index Fund

		Shares	Market Value• ($000)
^*,1	Paradigm Biopharmaceuticals Ltd.	183,396	158
^*	Redbubble Ltd.	195,951	154
^*	Dacian Gold Ltd.	908,904	147
^*	New Century Resources Ltd.	80,891	129
	Navigator Global Investments Ltd.	110,169	126
^*,1	AMA Group Ltd.	621,438	121
^*	PPK Group Ltd.	43,544	119
^*	Marley Spoon AG GDR	274,145	89
^*,3	Bgp Holdings plc	15,642,708	55
^*	Minerals 260 Ltd.	147,173	49
^*	Falcon Metals Ltd.	110,148	26
	Vita Group Ltd.	31,935	11
^*	Juno Minerals Ltd.	64,385	6
			1,599,284
China (0.0%)
^*,1,3	China Fishery Group Ltd.	754,600	41
Hong Kong (7.1%)
	AIA Group Ltd.	12,716,112	124,920
	Hong Kong Exchanges & Clearing Ltd.	1,332,564	56,526
	CK Hutchison Holdings Ltd.	2,801,059	19,658
	Link REIT	2,190,998	18,925
	Techtronic Industries Co. Ltd.	1,315,156	17,555
	Sun Hung Kai Properties Ltd.	1,494,474	17,212
	CLP Holdings Ltd.	1,721,360	16,798
	CK Asset Holdings Ltd.	2,071,933	14,046
	BOC Hong Kong Holdings Ltd.	3,754,759	13,592
	Hang Seng Bank Ltd.	759,052	13,439
	Galaxy Entertainment Group Ltd.	2,262,062	12,908
	Hong Kong & China Gas Co. Ltd.	11,394,260	12,567
	Jardine Matheson Holdings Ltd.	215,852	11,433
	Power Assets Holdings Ltd.	1,439,707	9,687
^*	BeiGene Ltd.	695,700	8,724
	Wharf Real Estate Investment Co. Ltd.	1,723,283	8,121
	MTR Corp. Ltd.	1,500,186	7,971
	Lenovo Group Ltd.	7,850,000	7,622
	New World Development Co. Ltd.	1,494,539	5,716
²	WH Group Ltd.	8,219,593	5,676
	Hongkong Land Holdings Ltd.	1,211,847	5,653
^*	Sands China Ltd.	2,512,336	5,538
	Henderson Land Development Co. Ltd.	1,361,190	5,505
^*,2	ESR Cayman Ltd.	1,689,641	5,129
	Want Want China Holdings Ltd.	5,537,220	4,998
	Sino Land Co. Ltd.	3,678,443	4,862
	Xinyi Glass Holdings Ltd.	2,133,640	4,721
²	Budweiser Brewing Co. APAC Ltd.	1,780,900	4,431
	Wharf Holdings Ltd.	1,453,283	4,258
	SITC International Holdings Co. Ltd.	1,249,586	4,154

		Shares	Market Value• ($000)
	CK Infrastructure Holdings Ltd.	605,313	4,070
	Hang Lung Properties Ltd.	2,092,841	4,003
	Orient Overseas International Ltd.	136,500	3,767
	Tingyi Cayman Islands Holding Corp.	1,981,900	3,617
	PRADA SpA	540,304	3,362
	ASM Pacific Technology Ltd.	327,836	3,304
	Swire Pacific Ltd. Class A	547,752	3,120
	Chow Tai Fook Jewellery Group Ltd.	1,855,818	3,112
^*,2	Samsonite International SA	1,342,097	2,941
	Swire Properties Ltd.	1,131,435	2,712
	PCCW Ltd.	4,391,133	2,488
	Pacific Basin Shipping Ltd.	4,600,236	2,111
	Bank of East Asia Ltd.	1,376,532	2,037
	Hysan Development Co. Ltd.	674,571	1,985
	Hang Lung Group Ltd.	974,920	1,903
	Minth Group Ltd.	764,783	1,802
^*	HUTCHMED China Ltd.	551,500	1,770
	Kerry Properties Ltd.	642,590	1,738
²	BOC Aviation Ltd.	220,425	1,729
¹	AAC Technologies Holdings Inc.	720,257	1,682
^*,1	Vitasoy International Holdings Ltd.	838,304	1,520
	Man Wah Holdings Ltd.	1,621,452	1,518
	L'Occitane International SA	480,373	1,506
	NWS Holdings Ltd.	1,600,887	1,449
^*,2,3	Razer Inc.	3,952,000	1,439
	NagaCorp Ltd.	1,520,972	1,359
	Fortune REIT	1,477,996	1,291
^*	Yue Yuen Industrial Holdings Ltd.	785,158	1,155
	VTech Holdings Ltd.	163,250	1,155
	Uni-President China Holdings Ltd.	1,274,038	1,116
^*	MMG Ltd.	2,484,286	1,048
	HKBN Ltd.	883,157	1,032
	Champion REIT	2,308,900	1,011
	First Pacific Co. Ltd.	2,489,939	1,004
^*	Shangri-La Asia Ltd.	1,324,928	1,003
	Microport Scientific Corp.	509,319	1,001
^*	Cathay Pacific Airways Ltd.	982,504	982
^*	Wynn Macau Ltd.	1,555,229	955
	United Energy Group Ltd.	7,948,000	935
	Dairy Farm International Holdings Ltd.	333,501	901
	Luk Fook Holdings International Ltd.	375,406	859
²	Js Global Lifestyle Co. Ltd.	687,000	815
^*	SJM Holdings Ltd.	1,868,639	785
^*,3	Vobile Group Ltd.	1,467,000	742
¹	Lee & Man Paper Manufacturing Ltd.	1,537,000	735

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Vinda International Holdings Ltd.	294,000	709
^*	Theme International Holdings Ltd.	5,070,000	705
	Kerry Logistics Network Ltd.	293,111	674
^*,1	Realord Group Holdings Ltd.	382,000	660
	Sunlight REIT	1,344,089	657
²	Asiainfo Technologies Ltd.	387,600	653
	Jinchuan Group International Resources Co. Ltd.	5,043,000	647
^*	Melco International Development Ltd.	791,274	625
	Swire Pacific Ltd. Class B	638,186	602
^*	Towngas Smart Energy Co. Ltd.	1,158,140	572
¹	Huabao International Holdings Ltd.	1,037,071	566
^*	China Travel International Investment Hong Kong Ltd.	3,122,268	563
	VSTECS Holdings Ltd.	636,000	548
^*	OCI International Holdings Ltd.	1,026,600	504
	CITIC Telecom International Holdings Ltd.	1,395,470	501
	Nexteer Automotive Group Ltd.	872,211	493
^*	Cowell e Holdings Inc.	439,000	491
¹	Powerlong Real Estate Holdings Ltd.	1,435,000	487
	LK Technology Holdings Ltd.	392,841	487
	Prosperity REIT	1,407,661	483
	SUNeVision Holdings Ltd.	570,000	473
	Stella International Holdings Ltd.	445,500	471
	Shui On Land Ltd.	3,315,066	469
	Johnson Electric Holdings Ltd.	409,019	464
^*,1	MGM China Holdings Ltd.	809,336	463
^*	Esprit Holdings Ltd. (XHKG)	2,606,795	459
¹	Hong Kong Technology Venture Co. Ltd.	540,142	458
	K Wah International Holdings Ltd.	1,205,843	452
	Truly International Holdings Ltd.	1,535,603	418
^*,2	Jacobio Pharmaceuticals Group Co. Ltd.	409,500	413
	Dah Sing Financial Holdings Ltd.	138,260	402
	EC Healthcare	397,000	399
	Haitong International Securities Group Ltd.	2,473,891	392
	Texhong Textile Group Ltd.	318,500	383
^*	Shun Tak Holdings Ltd.	1,839,370	373
	Value Partners Group Ltd.	978,665	370
^*	FIH Mobile Ltd.	2,950,581	366

		Shares	Market Value• ($000)
	IGG Inc.	877,628	361
	Cafe de Coral Holdings Ltd.	228,447	359
^*	Cosmopolitan International Holdings Ltd.	1,860,000	345
	China Tobacco International HK Co. Ltd.	215,000	341
	Far East Consortium International Ltd.	1,054,493	329
^*,2	Hua Medicine	827,500	328
	Beijing Tong Ren Tang Chinese Medicine Co. Ltd.	221,000	319
	Great Eagle Holdings Ltd.	134,000	313
	Vesync Co. Ltd.	415,000	299
	Sun Hung Kai & Co. Ltd.	614,182	291
	Dah Sing Banking Group Ltd.	334,756	281
	Canvest Environmental Protection Group Co. Ltd.	664,675	279
	Asia Cement China Holdings Corp.	414,000	267
	Guotai Junan International Holdings Ltd.	2,336,336	254
	Chow Sang Sang Holdings International Ltd.	220,922	245
	United Laboratories International Holdings Ltd.	489,873	240
^*	Pou Sheng International Holdings Ltd.	2,053,253	238
^*,2	Antengene Corp. Ltd.	300,500	236
^*,3	Convoy	10,860,141	231
^*,2	Everest Medicines Ltd.	100,000	229
¹	C-Mer Eye Care Holdings Ltd.	404,000	219
	Giordano International Ltd.	1,042,590	218
^*,2	Xiabuxiabu Catering Management China Holdings Co. Ltd.	494,000	217
	Dynam Japan Holdings Co. Ltd.	251,344	215
^*,1	Apollo Future Mobility Group Ltd.	4,660,000	209
²	Crystal International Group Ltd.	529,500	207
^*	Lifestyle International Holdings Ltd.	421,907	203
	Singamas Container Holdings Ltd.	1,447,323	200
^*,2	JW Cayman Therapeutics Co. Ltd. (XHKG)	218,500	200
	Hutchison Telecommunications Hong Kong Holdings Ltd.	1,160,301	193
	Road King Infrastructure Ltd.	233,814	191
^*,2	Frontage Holdings Corp.	646,000	191

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Powerlong Commercial Management Holdings Ltd.	179,000	186
	SmarTone Telecommunications Holdings Ltd.	350,235	183
^*	Sa Sa International Holdings Ltd.	1,012,953	181
	Pacific Textiles Holdings Ltd.	411,697	181
^*	Digital Domain Holdings Ltd.	2,372,803	173
^*	Television Broadcasts Ltd.	278,247	171
^*	CITIC Resources Holdings Ltd.	2,328,000	163
^*	Glory Sun Financial Group Ltd.	16,712,000	162
^*	GCL New Energy Holdings Ltd.	7,907,422	138
^*	Chinese Estates Holdings Ltd.	447,000	130
^*,2	FIT Hon Teng Ltd.	976,000	124
^*,2	IMAX China Holding Inc.	102,275	115
	Texwinca Holdings Ltd.	585,037	101
^1,2	VPower Group International Holdings Ltd.	832,000	96
	CMBC Capital Holdings Ltd.	384,500	88
^*,3	Brightoil	2,476,222	63
	Lee's Pharmaceutical Holdings Ltd.	236,812	60
^*	China LNG Group Ltd.	1,674,344	56
^*,3	MH Development NPV	366,000	54
^*,3	Macau Legend Development Ltd.	728,000	42
^*	Suncity Group Holdings Ltd.	1,880,000	16
^*,3	Agritrade Resources Ltd.	2,330,000	—
^*	Glory Sun Land Group Ltd.	1,120	—
			562,497
Japan (54.2%)
	Toyota Motor Corp.	12,782,325	219,009
	Sony Group Corp.	1,302,439	112,402
	Keyence Corp.	189,366	76,126
	Mitsubishi UFJ Financial Group Inc.	12,859,272	74,756
	Tokyo Electron Ltd.	155,184	65,479
	KDDI Corp.	1,739,866	57,615
	Shin-Etsu Chemical Co. Ltd.	417,150	57,331
	SoftBank Group Corp.	1,385,570	56,989
	Recruit Holdings Co. Ltd.	1,499,966	54,421
	Nintendo Co. Ltd.	110,395	50,383
	Daiichi Sankyo Co. Ltd.	1,974,447	49,714
	Honda Motor Co. Ltd.	1,795,786	47,236
	Takeda Pharmaceutical Co. Ltd.	1,610,024	46,717
	Hitachi Ltd.	972,728	46,133
	ITOCHU Corp.	1,421,892	42,914
	Daikin Industries Ltd.	278,673	42,586
	Mitsubishi Corp.	1,258,021	42,239
	Sumitomo Mitsui Financial Group Inc.	1,364,288	41,221
	Mitsui & Co. Ltd.	1,653,557	40,042
	Hoya Corp.	374,746	37,191

	Shares	Market Value• ($000)
Nippon Telegraph & Telephone Corp.	1,254,686	36,975
Tokio Marine Holdings Inc.	669,324	36,189
Seven & i Holdings Co. Ltd.	808,249	35,738
Murata Manufacturing Co. Ltd.	598,879	35,698
Softbank Corp.	2,861,967	33,307
Mizuho Financial Group Inc.	2,667,737	32,394
Nidec Corp.	486,866	31,475
FANUC Corp.	201,868	30,932
Oriental Land Co. Ltd.	196,990	29,799
Astellas Pharma Inc.	1,949,901	29,689
Fujitsu Ltd.	194,982	29,471
SMC Corp.	59,829	28,970
Denso Corp.	470,603	28,681
Fast Retailing Co. Ltd.	53,980	24,853
Canon Inc.	1,044,611	24,036
Central Japan Railway Co.	190,452	23,975
ORIX Corp.	1,261,211	23,003
Bridgestone Corp.	606,028	22,213
Komatsu Ltd.	961,337	21,636
Mitsubishi Electric Corp.	2,050,014	21,472
Japan Tobacco Inc.	1,244,269	21,167
Dai-ichi Life Holdings Inc.	1,044,595	20,917
Terumo Corp.	691,032	20,569
Mitsui Fudosan Co. Ltd.	966,760	20,489
Chugai Pharmaceutical Co. Ltd.	682,338	20,446
FUJIFILM Holdings Corp.	371,187	20,405
Panasonic Corp.	2,236,935	19,938
East Japan Railway Co.	379,545	19,792
Olympus Corp.	1,107,720	19,497
Kao Corp.	486,225	19,487
Kubota Corp.	1,142,705	19,413
Shiseido Co. Ltd.	407,938	19,284
Sumitomo Corp.	1,178,201	18,643
Toshiba Corp.	441,658	18,341
Marubeni Corp.	1,645,243	17,959
Mitsubishi Estate Co. Ltd.	1,194,859	17,405
Kyocera Corp.	322,992	16,959
Asahi Group Holdings Ltd.	442,554	16,681
Japan Post Holdings Co. Ltd.	2,333,821	16,364
Daiwa House Industry Co. Ltd.	670,570	16,121
Shionogi & Co. Ltd.	284,707	15,837
Otsuka Holdings Co. Ltd.	439,721	14,776
Shimano Inc.	82,033	14,535
MS&AD Insurance Group Holdings Inc.	486,368	14,478
Secom Co. Ltd.	203,497	14,317
Suzuki Motor Corp.	474,947	14,317
Unicharm Corp.	409,734	14,255
M3 Inc.	442,488	14,130
Aeon Co. Ltd.	738,538	14,036
Bandai Namco Holdings Inc.	204,343	13,835
Sompo Holdings Inc.	336,520	13,700
Advantest Corp.	199,749	13,632
Nippon Steel Corp.	856,716	13,603

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Ajinomoto Co. Inc.	505,634	13,137
	Sysmex Corp.	198,611	13,028
	Nippon Yusen KK	168,659	12,168
	NTT Data Corp.	659,857	12,166
	Eisai Co. Ltd.	278,434	12,126
	Nomura Holdings Inc.	3,148,114	12,122
	Sumitomo Mitsui Trust Holdings Inc.	384,436	11,932
	Kirin Holdings Co. Ltd.	800,701	11,672
	TDK Corp.	377,781	11,670
	Ono Pharmaceutical Co. Ltd.	442,901	11,378
	Omron Corp.	192,489	11,348
^*	Renesas Electronics Corp.	1,041,763	11,124
	ENEOS Holdings Inc.	3,144,359	11,064
	Sumitomo Realty & Development Co. Ltd.	413,520	10,970
	Sumitomo Metal Mining Co. Ltd.	249,263	10,932
	Inpex Corp.	910,732	10,836
	Kikkoman Corp.	191,799	10,779
	Z Holdings Corp.	2,739,088	10,753
	NEC Corp.	275,959	10,706
	Asahi Kasei Corp.	1,299,616	10,663
	Lasertec Corp.	79,746	10,654
	Sekisui House Ltd.	597,425	10,376
	Obic Co. Ltd.	70,188	10,370
	Nitto Denko Corp.	154,047	10,340
	Mitsubishi Heavy Industries Ltd.	299,239	10,231
	Toyota Industries Corp.	168,372	10,098
	Resona Holdings Inc.	2,286,113	9,941
	Nexon Co. Ltd.	430,614	9,806
	Subaru Corp.	639,548	9,705
	Yaskawa Electric Corp.	271,320	9,213
	Shimadzu Corp.	281,640	9,207
	West Japan Railway Co.	242,657	9,007
	Sumitomo Electric Industries Ltd.	790,703	8,501
	Tokyo Gas Co. Ltd.	442,434	8,475
	Nippon Building Fund Inc.	1,630	8,462
	Toyota Tsusho Corp.	233,807	8,400
	Nippon Paint Holdings Co. Ltd.	1,059,449	8,392
	Japan Exchange Group Inc.	555,484	8,271
	Dentsu Group Inc.	228,373	8,231
	MINEBEA MITSUMI Inc.	426,099	8,175
	Mitsubishi Chemical Holdings Corp.	1,336,146	8,147
	Mitsui OSK Lines Ltd.	347,895	8,145
^*	Nissan Motor Co. Ltd.	2,028,030	8,119
	Nitori Holdings Co. Ltd.	78,437	8,070
	Nomura Research Institute Ltd.	284,539	8,046
	SG Holdings Co. Ltd.	444,400	7,832
	Makita Corp.	256,015	7,567
	Daiwa Securities Group Inc.	1,543,776	7,566
	Toray Industries Inc.	1,592,478	7,547
	Osaka Gas Co. Ltd.	413,465	7,452
	Nissan Chemical Corp.	140,542	7,424
	Chubu Electric Power Co. Inc.	733,702	7,407
	MISUMI Group Inc.	292,611	7,337
	Disco Corp.	29,771	7,286

		Shares	Market Value• ($000)
	Yakult Honsha Co. Ltd.	140,430	7,272
	AGC Inc.	192,724	7,225
	MEIJI Holdings Co. Ltd.	140,799	7,018
	T&D Holdings Inc.	544,855	7,002
	Yamaha Motor Co. Ltd.	331,244	6,839
	Trend Micro Inc.	122,522	6,831
	Sumitomo Chemical Co. Ltd.	1,583,630	6,734
	Nippon Prologis REIT Inc.	2,428	6,720
	Kansai Electric Power Co. Inc.	763,516	6,693
	Japan Real Estate Investment Corp.	1,365	6,606
	JFE Holdings Inc.	538,304	6,583
	Yamato Holdings Co. Ltd.	350,700	6,562
	Idemitsu Kosan Co. Ltd.	247,322	6,518
	Daito Trust Construction Co. Ltd.	67,622	6,513
	Pan Pacific International Holdings Corp.	420,008	6,432
	Isuzu Motors Ltd.	541,754	6,320
	Tokyu Corp.	512,201	6,264
	Daifuku Co. Ltd.	101,564	6,245
	Yamaha Corp.	159,861	6,108
	Konami Holdings Corp.	97,906	6,021
	Hankyu Hanshin Holdings Inc.	227,835	6,013
	Rohm Co. Ltd.	86,019	6,009
	Hamamatsu Photonics KK	133,839	5,988
	Rakuten Group Inc.	849,965	5,975
	GLP J-REIT	4,427	5,974
	Nomura Real Estate Master Fund Inc.	4,720	5,926
	Fuji Electric Co. Ltd.	132,000	5,788
	Dai Nippon Printing Co. Ltd.	276,080	5,770
	Japan Metropolitan Fund Investment	7,233	5,749
^*	Tokyo Electric Power Co. Holdings Inc.	1,637,207	5,651
	SBI Holdings Inc.	251,672	5,629
	TIS Inc.	247,775	5,565
	Kyowa Kirin Co. Ltd.	263,102	5,545
	Daiwa House REIT Investment Corp.	2,225	5,416
	Kintetsu Group Holdings Co. Ltd.	187,554	5,377
	Aisin Corp.	180,652	5,248
	Suntory Beverage & Food Ltd.	131,814	5,194
	JSR Corp.	190,168	5,164
	Kajima Corp.	461,442	5,143
	Taiyo Yuden Co. Ltd.	129,581	5,091
	TOTO Ltd.	151,066	5,091
	Capcom Co. Ltd.	189,636	5,004
	Nissin Foods Holdings Co. Ltd.	71,325	4,962
	Odakyu Electric Railway Co. Ltd.	322,656	4,886
	Lixil Corp.	276,202	4,858
	Tobu Railway Co. Ltd.	214,799	4,828
	Obayashi Corp.	701,729	4,826
	TOPPAN Inc.	289,072	4,778
	Sekisui Chemical Co. Ltd.	352,560	4,774

Pacific Stock Index Fund

	Shares	Market Value• ($000)
BayCurrent Consulting Inc.	14,447	4,737
Keio Corp.	121,625	4,665
Taisei Corp.	170,390	4,616
Ricoh Co. Ltd.	627,504	4,582
Kawasaki Kisen Kaisha Ltd.	85,814	4,487
Ebara Corp.	96,730	4,443
Koito Manufacturing Co. Ltd.	120,721	4,430
Hirose Electric Co. Ltd.	34,511	4,379
Oji Holdings Corp.	919,909	4,358
Kobayashi Pharmaceutical Co. Ltd.	63,614	4,338
MatsukiyoCocokara & Co.	131,149	4,335
Brother Industries Ltd.	249,257	4,332
Toho Co. Ltd. (XTKS)	116,699	4,330
Concordia Financial Group Ltd.	1,177,433	4,285
CyberAgent Inc.	405,112	4,280
MonotaRO Co. Ltd.	246,816	4,240
Mazda Motor Corp.	596,332	4,234
NIPPON Experes Holding Inc.	72,151	4,230
SUMCO Corp.	293,052	4,220
Ibiden Co. Ltd.	112,379	4,200
Azbil Corp.	137,196	4,166
Mitsui Chemicals Inc.	181,588	4,149
Yokogawa Electric Corp.	255,964	4,081
Tosoh Corp.	291,473	4,025
Seiko Epson Corp.	285,013	4,015
Kurita Water Industries Ltd.	116,264	3,966
Asahi Intecc Co. Ltd.	204,152	3,945
Nikon Corp.	338,504	3,804
USS Co. Ltd.	224,257	3,733
Chiba Bank Ltd.	646,866	3,728
Sojitz Corp.	244,253	3,724
Sega Sammy Holdings Inc.	209,267	3,708
Orix JREIT Inc.	2,736	3,698
Hulic Co. Ltd.	435,741	3,679
Advance Residence Investment Corp.	1,340	3,669
NGK Insulators Ltd.	271,405	3,651
Showa Denko KK	187,566	3,650
GMO Payment Gateway Inc.	43,192	3,624
Nippon Shinyaku Co. Ltd.	53,560	3,622
Marui Group Co. Ltd.	210,158	3,618
Nisshin Seifun Group Inc.	270,705	3,609
Keisei Electric Railway Co. Ltd.	144,552	3,544
Kobe Bussan Co. Ltd.	143,400	3,496
Otsuka Corp.	106,574	3,493
Persol Holdings Co. Ltd.	174,311	3,458
Hoshizaki Corp.	54,256	3,437
United Urban Investment Corp.	3,117	3,410
SCREEN Holdings Co. Ltd.	41,317	3,377
Nihon M&A Center Holdings Inc.	273,824	3,372
Shizuoka Bank Ltd.	520,899	3,370

		Shares	Market Value• ($000)
	Nagoya Railroad Co. Ltd.	208,250	3,345
	Japan Post Insurance Co. Ltd.	206,776	3,344
	Bank of Kyoto Ltd.	76,435	3,330
	Tokyu Fudosan Holdings Corp.	631,419	3,286
	Japan Post Bank Co. Ltd.	428,703	3,234
	Kyushu Railway Co.	164,770	3,230
	Square Enix Holdings Co. Ltd.	80,854	3,228
^*	Hitachi Metals Ltd.	206,886	3,228
	NH Foods Ltd.	101,660	3,210
	Kose Corp.	30,566	3,138
	NGK Spark Plug Co. Ltd.	203,187	3,118
^*	ANA Holdings Inc.	164,601	3,103
	Fukuoka Financial Group Inc.	168,626	3,081
	IHI Corp.	135,065	3,063
	Santen Pharmaceutical Co. Ltd.	375,407	3,054
	Kyushu Electric Power Co. Inc.	485,478	3,047
	Open House Co. Ltd.	77,324	2,992
	Mitsubishi HC Capital Inc. (XTKS)	663,129	2,984
	Hakuhodo DY Holdings Inc.	252,243	2,977
	Haseko Corp.	271,391	2,974
	Tokyo Tatemono Co. Ltd.	210,639	2,970
	Shinko Electric Industries Co. Ltd.	68,493	2,952
	Nomura Real Estate Holdings Inc.	121,020	2,949
	Shimizu Corp.	559,548	2,934
	Japan Prime Realty Investment Corp.	961	2,915
	Toyo Suisan Kaisha Ltd.	94,075	2,905
	Kakaku.com Inc.	137,869	2,887
	TechnoPro Holdings Inc.	112,423	2,863
	Kuraray Co. Ltd.	357,767	2,861
	Asics Corp.	179,705	2,835
	Industrial & Infrastructure Fund Investment Corp.	1,969	2,825
	Skylark Holdings Co. Ltd.	235,867	2,799
	Kansai Paint Co. Ltd.	202,286	2,786
	Hikari Tsushin Inc.	23,495	2,751
	Nippon Sanso Holdings Corp.	152,732	2,748
	Tohoku Electric Power Co. Inc.	494,040	2,748
	Mitsubishi Gas Chemical Co. Inc.	186,490	2,723
	Rohto Pharmaceutical Co. Ltd.	101,847	2,720
	Lion Corp.	262,221	2,702
	Kawasaki Heavy Industries Ltd.	151,855	2,700
	Nabtesco Corp.	117,821	2,687
	Stanley Electric Co. Ltd.	155,049	2,674
	Isetan Mitsukoshi Holdings Ltd.	359,913	2,671
	Keikyu Corp.	265,104	2,670
	NOF Corp.	69,972	2,626
	JGC Holdings Corp.	228,614	2,587
^*	Japan Airlines Co. Ltd.	155,541	2,568
	LaSalle Logiport REIT	1,888	2,554

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Sumitomo Heavy Industries Ltd.	120,103	2,542
	Sekisui House REIT Inc.	4,339	2,539
	Amada Co. Ltd.	326,069	2,532
	Hitachi Construction Machinery Co. Ltd.	111,837	2,532
	Alfresa Holdings Corp.	186,200	2,532
	NSK Ltd.	456,610	2,527
	Medipal Holdings Corp.	152,651	2,514
	Food & Life Cos. Ltd.	105,668	2,508
	Aozora Bank Ltd.	123,821	2,479
	Activia Properties Inc.	775	2,477
	COMSYS Holdings Corp.	118,991	2,471
	Koei Tecmo Holdings Co. Ltd.	80,343	2,464
	Zensho Holdings Co. Ltd.	104,370	2,461
	Air Water Inc.	184,769	2,452
^*	Yamada Denki Co. Ltd.	815,873	2,436
	Ito En Ltd.	58,634	2,410
	THK Co. Ltd.	121,599	2,410
	Denka Co. Ltd.	89,871	2,409
	Rinnai Corp.	37,636	2,406
	Japan Hotel REIT Investment Corp.	4,713	2,394
	Kadokawa Corp.	95,088	2,384
	Mitsui Fudosan Logistics Park Inc.	552	2,367
	Nippon Accommodations Fund Inc.	480	2,364
	ZOZO Inc.	112,668	2,359
	Iida Group Holdings Co. Ltd.	147,938	2,353
	Itochu Techno-Solutions Corp.	100,314	2,349
	Electric Power Development Co. Ltd.	171,208	2,346
	Casio Computer Co. Ltd.	225,260	2,336
	Suzuken Co. Ltd.	78,693	2,323
^*	Japan Airport Terminal Co. Ltd.	55,583	2,303
	Keihan Holdings Co. Ltd.	105,543	2,251
	Japan Logistics Fund Inc.	921	2,248
	Cosmo Energy Holdings Co. Ltd.	90,309	2,244
	Oracle Corp. Japan	34,817	2,237
	Hitachi Transport System Ltd.	33,999	2,232
	Ryohin Keikaku Co. Ltd.	246,600	2,216
	Toho Gas Co. Ltd.	93,682	2,198
	Seibu Holdings Inc.	220,704	2,193
	Sumitomo Forestry Co. Ltd.	142,886	2,186
	Miura Co. Ltd.	104,343	2,179
^*	SHIFT Inc.	11,500	2,179
	Teijin Ltd.	202,906	2,168
	Tokyo Ohka Kogyo Co. Ltd.	39,216	2,131
	Welcia Holdings Co. Ltd.	103,764	2,127
	SCSK Corp.	133,015	2,115
	Iwatani Corp.	53,111	2,113
	Shimamura Co. Ltd.	23,751	2,106
	Nichirei Corp.	114,601	2,104
	Nankai Electric Railway Co. Ltd.	117,690	2,101

	Shares	Market Value• ($000)
Mitsubishi Materials Corp.	134,068	2,097
Mitsui High-Tec Inc.	24,188	2,089
Chugoku Electric Power Co. Inc.	315,167	2,076
Mebuki Financial Group Inc.	1,028,070	2,070
Kenedix Office Investment Corp.	396	2,070
Hisamitsu Pharmaceutical Co. Inc.	75,203	2,060
AEON REIT Investment Corp.	1,777	2,040
Dowa Holdings Co. Ltd.	47,929	2,039
Kagome Co. Ltd.	81,434	2,038
NET One Systems Co. Ltd.	85,312	2,036
SHO-BOND Holdings Co. Ltd.	48,286	2,029
Tokyo Century Corp.	64,983	2,002
Horiba Ltd.	40,920	1,991
ADEKA Corp.	103,738	1,990
Jeol Ltd.	44,224	1,986
Taiheiyo Cement Corp.	122,536	1,983
Tsuruha Holdings Inc.	38,731	1,979
Sohgo Security Services Co. Ltd.	71,089	1,975
Ulvac Inc.	49,975	1,958
Pigeon Corp.	114,495	1,953
INFRONEER Holdings Inc.	267,795	1,951
Frontier Real Estate Investment Corp.	502	1,945
Alps Alpine Co. Ltd.	218,220	1,932
J Front Retailing Co. Ltd.	254,138	1,904
Sanwa Holdings Corp.	208,574	1,900
Goldwin Inc.	37,832	1,898
Nihon Kohden Corp.	77,451	1,859
Japan Steel Works Ltd.	65,981	1,857
Taisho Pharmaceutical Holdings Co. Ltd.	47,010	1,852
Lawson Inc.	50,171	1,845
EXEO Group Inc.	110,584	1,841
Mori Hills REIT Investment Corp.	1,619	1,836
Zenkoku Hosho Co. Ltd.	52,265	1,834
Nifco Inc.	86,510	1,827
Daiwa Securities Living Investments Corp.	2,067	1,819
Credit Saison Co. Ltd.	161,125	1,815
Anritsu Corp.	143,153	1,800
Kewpie Corp.	106,874	1,800
Internet Initiative Japan Inc.	57,446	1,793
Fujitec Co. Ltd.	82,840	1,785
House Foods Group Inc.	75,554	1,768
Tsumura & Co.	71,765	1,766
Kamigumi Co. Ltd.	103,885	1,764
Morinaga Milk Industry Co. Ltd.	43,413	1,748
Sharp Corp.	205,615	1,740
Tokai Carbon Co. Ltd.	208,386	1,723
Cosmos Pharmaceutical Corp.	18,626	1,717
Kenedix Residential Next Investment Corp.	1,064	1,712
Daiseki Co. Ltd.	47,484	1,708

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Nihon Unisys Ltd.	66,899	1,690
	Comforia Residential REIT Inc.	676	1,684
	K's Holdings Corp	168,960	1,673
^*	Park24 Co. Ltd.	117,512	1,673
	Invincible Investment Corp.	5,132	1,673
	Nippon Electric Glass Co. Ltd.	83,064	1,672
	Sumitomo Rubber Industries Ltd.	191,845	1,663
	Hulic REIT Inc.	1,330	1,652
	Coca-Cola Bottlers Japan Holdings Inc.	146,699	1,645
	Daicel Corp.	269,079	1,645
	Nagase & Co. Ltd.	114,685	1,643
	Konica Minolta Inc.	471,641	1,641
	JTEKT Corp.	235,110	1,639
	Yamazaki Baking Co. Ltd.	132,041	1,632
¹	NTT UD REIT Investment Corp.	1,412	1,631
	Kaneka Corp.	60,830	1,628
	Justsystems Corp.	37,342	1,623
	Toyo Seikan Group Holdings Ltd.	150,031	1,623
^*	Mitsubishi Motors Corp.	647,591	1,620
	Relo Group Inc.	112,916	1,613
	Sugi Holdings Co. Ltd.	37,531	1,609
	Ube Industries Ltd.	103,800	1,609
	Daiwa Office Investment Corp.	283	1,602
	Ezaki Glico Co. Ltd.	55,758	1,599
	DIC Corp.	83,719	1,596
	Sundrug Co. Ltd.	67,893	1,581
	Hirogin Holdings Inc.	320,326	1,578
	Zeon Corp.	147,514	1,571
	Kinden Corp.	132,521	1,570
	Sumitomo Dainippon Pharma Co. Ltd.	176,062	1,568
	Nippon Gas Co. Ltd.	109,851	1,559
	Nishi-Nippon Railroad Co. Ltd.	77,947	1,559
	Hachijuni Bank Ltd.	471,706	1,556
	Mitsubishi Logistics Corp.	67,300	1,551
	Ushio Inc.	119,637	1,551
^*	PeptiDream Inc.	96,030	1,549
	Yokohama Rubber Co. Ltd.	115,212	1,543
	Aeon Mall Co. Ltd.	126,201	1,536
^*	Money Forward Inc.	45,101	1,534
	Sankyu Inc.	49,868	1,520
	Takara Holdings Inc.	179,779	1,514
	Pilot Corp.	36,984	1,503
	Amano Corp.	77,880	1,499
	Kureha Corp.	19,926	1,497
	Iyo Bank Ltd.	306,325	1,485
	Hino Motors Ltd.	285,856	1,476
	Nippon Kayaku Co. Ltd.	168,318	1,467
	Mabuchi Motor Co. Ltd.	54,761	1,463
	Kobe Steel Ltd.	337,306	1,462
	Sotetsu Holdings Inc.	84,738	1,453
	Fuji Corp.	86,436	1,442
	Mitsui Mining & Smelting Co. Ltd.	56,545	1,430
	Mitsubishi Estate Logistics REIT Investment Corp.	398	1,428

		Shares	Market Value• ($000)
	As One Corp.	26,884	1,427
	Nippon Shokubai Co. Ltd.	35,452	1,426
	Penta-Ocean Construction Co. Ltd.	290,775	1,423
	Meitec Corp.	26,781	1,422
^*	DeNA Co. Ltd.	97,635	1,415
	Topcon Corp.	109,914	1,407
	Ain Holdings Inc.	30,907	1,386
	NSD Co. Ltd.	78,052	1,386
	Calbee Inc.	77,350	1,386
	Sawai Group Holdings Co. Ltd.	41,248	1,384
	Toda Corp.	239,920	1,378
	Fancl Corp.	71,568	1,370
	Sankyo Co. Ltd.	47,578	1,369
	Maruichi Steel Tube Ltd.	64,027	1,366
	Tokyo Seimitsu Co. Ltd.	39,421	1,356
	GS Yuasa Corp.	78,138	1,355
	Ship Healthcare Holdings Inc.	81,110	1,355
	DMG Mori Co. Ltd.	107,524	1,349
	Fujikura Ltd.	283,722	1,342
	Tokyu REIT Inc.	956	1,340
	Sapporo Holdings Ltd.	64,308	1,339
	Chugoku Bank Ltd.	181,501	1,335
	Morinaga & Co. Ltd.	42,910	1,331
	Rengo Co. Ltd.	224,626	1,330
	Japan Excellent Inc.	1,341	1,316
	Hoshino Resorts REIT Inc.	254	1,310
	Takashimaya Co. Ltd.	143,557	1,309
	Yamaguchi Financial Group Inc.	238,004	1,305
	Hazama Ando Corp.	187,459	1,302
	Asahi Holdings Inc.	82,016	1,302
¹	Bic Camera Inc.	153,093	1,292
	Seven Bank Ltd.	687,772	1,286
	NIPPON REIT Investment Corp.	448	1,284
	Aica Kogyo Co. Ltd.	55,155	1,277
	Yoshinoya Holdings Co. Ltd.	69,902	1,272
	Toyo Tire Corp.	110,730	1,270
	Kenedix Retail REIT Corp.	603	1,269
	Benesse Holdings Inc.	72,118	1,262
	Resorttrust Inc.	74,794	1,258
	Sanrio Co. Ltd.	59,476	1,248
	Seino Holdings Co. Ltd.	151,910	1,241
	Gunma Bank Ltd.	429,972	1,236
	SMS Co. Ltd.	52,368	1,229
	Rakus Co. Ltd	100,301	1,229
	Mirait Holdings Corp.	87,438	1,225
	Fuji Soft Inc.	22,903	1,221
	Nippon Suisan Kaisha Ltd.	276,175	1,219
	Kyushu Financial Group Inc.	395,691	1,214
	H.U. Group Holdings Inc.	54,342	1,211
	PALTAC Corp.	33,152	1,208
	Sakata Seed Corp.	35,750	1,204
	Daiwabo Holdings Co. Ltd.	92,780	1,201
	Daiichikosho Co. Ltd.	43,907	1,198
	ABC-Mart Inc.	28,866	1,197
	Katitas Co. Ltd.	51,300	1,197
	GMO internet Inc.	59,612	1,191

Pacific Stock Index Fund

		Shares	Market Value• ($000)
^*	Shochiku Co. Ltd.	11,656	1,190
	Yaoko Co. Ltd.	22,501	1,190
	Mori Trust Sogo REIT Inc.	1,092	1,189
	Yamato Kogyo Co. Ltd.	36,754	1,186
	OKUMA Corp.	32,640	1,167
^*	Shinsei Bank Ltd.	65,335	1,146
	AEON Financial Service Co. Ltd.	124,431	1,144
	Heiwa Real Estate REIT Inc.	996	1,141
	Menicon Co. Ltd.	53,384	1,140
	Heiwa Real Estate Co. Ltd.	35,835	1,130
	Fuyo General Lease Co. Ltd.	20,811	1,126
	OBIC Business Consultants Co. Ltd.	31,306	1,125
	Digital Garage Inc.	33,648	1,114
	Infomart Corp.	223,432	1,113
	Kokuyo Co. Ltd.	85,307	1,111
	JCR Pharmaceuticals Co. Ltd.	59,732	1,110
	Kyoritsu Maintenance Co. Ltd.	30,488	1,110
	Toyoda Gosei Co. Ltd.	76,259	1,110
	Nisshinbo Holdings Inc.	147,011	1,100
	Sumitomo Bakelite Co. Ltd.	33,450	1,098
	Dexerials Corp.	49,580	1,087
	Wacom Co. Ltd.	149,331	1,080
	FP Corp.	47,686	1,079
	Outsourcing Inc.	108,830	1,079
	NS Solutions Corp.	36,148	1,078
	TS Tech Co. Ltd.	103,322	1,078
	Daido Steel Co. Ltd.	37,745	1,077
	Kaken Pharmaceutical Co. Ltd.	35,339	1,071
	Toagosei Co. Ltd.	129,614	1,065
	Sumitomo Osaka Cement Co. Ltd.	38,026	1,063
	Nichias Corp.	59,039	1,060
	NOK Corp.	124,629	1,060
	Tokuyama Corp.	79,682	1,060
	NHK Spring Co. Ltd.	163,941	1,059
	Daio Paper Corp.	87,866	1,048
	Macnica Fuji Electronics Holdings Inc.	50,459	1,046
	Toei Co. Ltd.	7,868	1,044
	OSG Corp.	82,297	1,034
	Maruwa Co. Ltd.	8,862	1,033
¹	Kotobuki Spirits Co. Ltd.	19,613	1,032
	Shiga Bank Ltd.	54,864	1,032
	Citizen Watch Co. Ltd.	273,181	1,031
	Furukawa Electric Co. Ltd.	63,473	1,031
	Canon Marketing Japan Inc.	47,289	1,029
	Inaba Denki Sangyo Co. Ltd.	52,460	1,029
	Mizuho Leasing Co. Ltd.	43,866	1,017
	Jafco Co. Ltd.	84,165	1,015
	Fujitsu General Ltd.	56,740	1,008
	Toshiba TEC Corp.	29,687	1,006
	77 Bank Ltd.	80,670	1,000
	Toyota Boshoku Corp.	62,726	1,000
	Acom Co. Ltd.	388,426	999
	Toho Holdings Co. Ltd.	60,960	990

		Shares	Market Value• ($000)
	Shoei Co. Ltd.	26,600	987
	Duskin Co. Ltd.	46,195	985
	Lintec Corp.	52,567	979
	Hanwa Co. Ltd.	39,829	974
	Colowide Co. Ltd.	75,737	969
	Tomy Co. Ltd.	101,986	968
	Japan Elevator Service Holdings Co. Ltd.	73,300	958
	DTS Corp.	43,612	957
	Hitachi Zosen Corp.	177,434	957
	Pola Orbis Holdings Inc.	82,852	955
	NEC Networks & System Integration Corp.	67,085	953
	Fukuoka REIT Corp.	759	949
	Nipro Corp.	119,948	945
	Hokuhoku Financial Group Inc.	139,605	945
	Fujimi Inc.	21,610	942
	Izumi Co. Ltd.	43,115	937
	DCM Holdings Co. Ltd.	113,462	937
	Benefit One Inc.	61,680	935
	Nishi-Nippon Financial Holdings Inc.	155,242	933
	Aiful Corp.	325,542	928
	Kyudenko Corp.	40,818	926
	Takuma Co. Ltd.	81,652	915
	Rorze Corp.	10,456	913
	Sumitomo Warehouse Co. Ltd.	53,836	903
	Shikoku Electric Power Co. Inc.	156,725	901
	Kanematsu Corp.	87,114	900
	Okumura Corp.	38,085	899
	Nikkon Holdings Co. Ltd.	59,253	897
	Japan Material Co. Ltd.	59,036	892
	Systena Corp.	283,520	891
	Global One Real Estate Investment Corp.	1,038	890
	Toridoll Holdings Corp.	48,900	887
	Taiyo Holdings Co. Ltd.	37,140	886
	Kintetsu World Express Inc.	37,035	882
	TOKAI Holdings Corp.	131,275	882
	Tadano Ltd.	123,666	878
	Nishimatsu Construction Co. Ltd.	29,721	875
	Inabata & Co. Ltd.	52,798	864
	Daishi Hokuetsu Financial Group Inc.	44,648	864
	Tokyo Steel Manufacturing Co. Ltd.	83,249	862
	Milbon Co. Ltd.	20,514	859
	Glory Ltd.	53,343	858
	Fuji Kyuko Co. Ltd.	27,093	857
	Monex Group Inc.	187,218	854
	Nippon Light Metal Holdings Co. Ltd.	66,534	852
	CRE Logistics REIT Inc.	555	849
	San-In Godo Bank Ltd.	170,798	848
	Itochu Advance Logistics Investment Corp.	683	844
^*	Management Solutions Co. Ltd.	23,826	844
	SOSiLA Logistics REIT Inc.	691	840

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Takasago Thermal Engineering Co. Ltd.	63,998	837
	Fukuyama Transporting Co. Ltd.	29,545	827
	Kumagai Gumi Co. Ltd.	39,637	827
	Toyobo Co. Ltd.	100,292	825
	Mochida Pharmaceutical Co. Ltd.	28,880	823
	Tsubakimoto Chain Co.	35,944	821
	Kiyo Bank Ltd.	74,800	820
	Ariake Japan Co. Ltd.	20,417	819
	Wacoal Holdings Corp.	57,467	819
	Nippon Paper Industries Co. Ltd.	103,109	819
	Ichigo Office REIT Investment Corp.	1,268	814
	Kusuri no Aoki Holdings Co. Ltd.	18,326	812
	Takara Bio Inc.	50,286	809
	EDION Corp.	89,557	806
	Heiwa Corp.	53,556	805
	Meidensha Corp.	44,315	803
	Central Glass Co. Ltd.	43,316	798
	Raito Kogyo Co. Ltd.	52,688	787
	Mani Inc.	68,515	782
	Nippon Soda Co. Ltd.	29,372	777
	Sangetsu Corp.	64,805	776
	CKD Corp.	59,645	772
	Information Services International-Dentsu Ltd.	26,892	772
^*	Sansan Inc.	80,685	770
	Makino Milling Machine Co. Ltd.	24,913	768
	Nihon Parkerizing Co. Ltd.	108,551	768
	Dip Corp.	23,406	763
^*,1	HIS Co. Ltd.	44,648	761
	Seiren Co. Ltd.	47,682	756
	Tokai Tokyo Financial Holdings Inc.	254,834	756
	BeNext-Yumeshin Group Co.	65,474	754
	Sanken Electric Co. Ltd.	20,396	753
	Star Asia Investment Corp.	1,651	753
	Hankyu Hanshin REIT Inc.	660	750
	TKC Corp.	28,464	748
	Valor Holdings Co. Ltd.	47,225	744
^*,1	Atom Corp.	130,251	742
	Maruha Nichiro Corp.	40,132	739
	GungHo Online Entertainment Inc.	36,234	739
	Joyful Honda Co. Ltd.	61,614	739
	en japan Inc.	31,400	738
	Round One Corp.	66,101	736
	Okamura Corp.	79,823	734
	Descente Ltd.	38,188	733
	Nagawa Co. Ltd.	10,400	733
	Japan Aviation Electronics Industry Ltd.	52,291	731
	Nippon Steel Trading Corp.	17,935	730
	Hokuriku Electric Power Co.	183,842	729
^*	NTN Corp.	454,117	725

		Shares	Market Value• ($000)
	Kandenko Co. Ltd.	114,114	724
	Kumiai Chemical Industry Co. Ltd.	106,937	723
	Transcosmos Inc.	30,577	721
	KH Neochem Co. Ltd.	37,937	718
	Kissei Pharmaceutical Co. Ltd.	36,252	717
	Taikisha Ltd.	28,967	715
	Hokuetsu Corp.	138,356	709
	Japan Petroleum Exploration Co. Ltd.	35,537	708
	Hokkaido Electric Power Co. Inc.	190,470	707
	Senko Group Holdings Co. Ltd.	104,510	707
	Kohnan Shoji Co. Ltd.	24,377	706
	Create Restaurants Holdings Inc.	112,376	703
	Itoham Yonekyu Holdings Inc.	139,436	702
	Megmilk Snow Brand Co. Ltd.	47,106	702
	Royal Holdings Co. Ltd.	43,779	701
	Earth Corp.	16,539	699
	Paramount Bed Holdings Co. Ltd.	41,922	698
	H2O Retailing Corp.	105,800	692
	Nojima Corp.	34,350	691
	Mixi Inc.	40,142	691
	UT Group Co. Ltd.	30,700	690
	Matsui Securities Co. Ltd.	111,123	687
	Takeuchi Manufacturing Co. Ltd.	37,141	681
	Autobacs Seven Co. Ltd.	64,414	678
	Nippn Corp.	52,163	678
	Awa Bank Ltd.	41,023	677
	Hokkoku Financial Holdings Inc.	23,484	677
	MOS Food Services Inc.	29,486	676
	Trusco Nakayama Corp.	43,318	676
	Juroku Financial Group Inc.	40,237	676
	Daihen Corp.	23,607	675
	Sanki Engineering Co. Ltd.	59,398	673
	Fuso Chemical Co. Ltd.	22,612	666
	Fuji Oil Holdings Inc.	46,290	657
	Meiko Electronics Co. Ltd.	24,718	654
	Nichicon Corp.	72,014	652
	S-Pool Inc.	65,260	652
	Suruga Bank Ltd.	205,883	646
¹	Gree Inc.	84,739	646
	Mirai Corp.	1,664	646
	ZERIA Pharmaceutical Co. Ltd.	42,105	644
	Japan Securities Finance Co. Ltd.	88,981	643
	Towa Pharmaceutical Co. Ltd.	30,180	642
^*,1	euglena Co. Ltd.	96,608	639
	Nishimatsuya Chain Co. Ltd.	51,980	638
	Starts Corp. Inc.	34,360	637
	Arcs Co. Ltd.	40,041	634
	Japan Lifeline Co. Ltd.	75,708	631
	Nachi-Fujikoshi Corp.	21,713	631

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Jaccs Co. Ltd.	24,884	629
	Digital Arts Inc.	11,256	629
	Nomura Co. Ltd.	91,540	629
	Ogaki Kyoritsu Bank Ltd.	42,619	625
	eGuarantee Inc.	37,600	624
	Japan Wool Textile Co. Ltd.	83,200	622
	Oki Electric Industry Co. Ltd.	94,810	614
	Noevir Holdings Co. Ltd.	15,627	613
	Tocalo Co. Ltd.	61,156	611
	Toyo Ink SC Holdings Co. Ltd.	40,822	608
^*,1	RENOVA Inc.	49,300	607
	ASKUL Corp.	48,910	599
	Riken Keiki Co. Ltd.	19,020	599
	Nextage Co. Ltd.	38,900	595
	Komeri Co. Ltd.	28,070	593
	Nanto Bank Ltd.	37,921	593
	Ichibanya Co. Ltd.	15,824	588
	KYORIN Holdings Inc.	39,787	579
	Funai Soken Holdings Inc.	34,456	578
	Optex Group Co. Ltd.	43,868	577
	Tri Chemical Laboratories Inc.	30,500	573
	KYB Corp.	25,127	569
	Shibaura Machine Co. Ltd.	23,593	564
	Comture Corp.	26,100	564
	Fuji Seal International Inc.	42,003	558
	Sumitomo Mitsui Construction Co. Ltd.	171,932	558
	Kanamoto Co. Ltd.	37,175	556
^*	Oisix ra daichi Inc.	27,054	556
	Hioki EE Corp.	9,259	555
	Prima Meat Packers Ltd.	33,665	552
	Saizeriya Co. Ltd.	29,981	550
	Future Corp.	37,532	550
	Nitto Boseki Co. Ltd.	28,369	550
	Kato Sangyo Co. Ltd.	21,099	547
	TRE Holdings Corp.	34,200	547
	Hyakugo Bank Ltd.	205,838	545
	JCU Corp.	21,398	545
	ValueCommerce Co. Ltd.	18,600	544
	eRex Co. Ltd.	35,961	544
¹	Snow Peak Inc.	29,700	544
	JINS Holdings Inc.	16,430	542
	Tokai Rika Co. Ltd.	51,170	539
	San-A Co. Ltd.	17,116	537
	Zojirushi Corp.	50,698	536
	Daiho Corp.	15,624	535
^*	Toyo Construction Co. Ltd.	74,170	534
	Elecom Co. Ltd.	44,422	533
	Sanyo Chemical Industries Ltd.	13,852	530
	Hosiden Corp.	55,134	526
	Orient Corp.	547,945	526
	Takara Leben Real Estate Investment Corp.	562	524
^*	Chiyoda Corp.	158,308	523
	BML Inc.	20,303	523
	KOMEDA Holdings Co. Ltd.	30,358	523
	Nichiha Corp.	28,468	515

		Shares	Market Value• ($000)
	Yokowo Co. Ltd.	26,240	515
	Hogy Medical Co. Ltd.	20,496	512
	Yodogawa Steel Works Ltd.	27,070	512
	Nippon Densetsu Kogyo Co. Ltd.	41,038	510
^*	Raksul Inc.	24,700	510
	Nisshin Oillio Group Ltd.	22,490	509
	Showa Sangyo Co. Ltd.	25,186	509
	North Pacific Bank Ltd.	266,493	505
	Sankei Real Estate Inc.	663	505
	One REIT Inc.	237	503
	Heiwado Co. Ltd.	33,262	502
	Musashino Bank Ltd.	36,551	500
	Okasan Securities Group Inc.	186,256	499
	Aeon Hokkaido Corp.	62,300	499
	MARUKA FURUSATO Corp.	18,900	497
	Ohsho Food Service Corp.	10,550	495
	Organo Corp.	7,193	494
	Totetsu Kogyo Co. Ltd.	27,270	493
	Create SD Holdings Co. Ltd.	21,499	492
¹	Kura Sushi Inc.	19,810	491
	Okinawa Electric Power Co. Inc.	49,344	491
	Strike Co. Ltd.	16,130	491
	Nissin Electric Co. Ltd.	45,990	490
	Star Micronics Co. Ltd.	43,443	487
	Iino Kaiun Kaisha Ltd.	85,795	486
	Iriso Electronics Co. Ltd.	20,807	486
	Eizo Corp.	18,610	485
	UACJ Corp.	28,969	485
	Starts Proceed Investment Corp.	270	484
	Takara Standard Co. Ltd.	48,381	483
	Maeda Kosen Co. Ltd.	21,100	482
	Tokyotokeiba Co. Ltd.	14,130	481
	Max Co. Ltd.	39,118	477
	Noritz Corp.	41,141	476
	TBS Holdings Inc.	35,937	472
	United Super Markets Holdings Inc.	55,735	472
¹	Change Inc.	33,700	470
	Maruwa Unyu Kikan Co. Ltd.	40,288	470
	Samty Residential Investment Corp.	463	468
	Mitsubishi Pencil Co. Ltd.	48,092	467
¹	Token Corp.	6,966	464
	Musashi Seimitsu Industry Co. Ltd.	45,404	461
	Maxell Ltd.	51,702	461
	Ai Holdings Corp.	34,936	459
	Okinawa Financial Group Inc.	26,780	458
	Seiko Holdings Corp.	26,693	457
	Idec Corp.	25,879	457
^*	Megachips Corp.	17,817	456
	Osaka Soda Co. Ltd.	18,419	453
	Base Co. Ltd.	9,300	453
	Eiken Chemical Co. Ltd.	34,156	452
^*	M&A Capital Partners Co. Ltd.	14,544	452

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Yokogawa Bridge Holdings Corp.	30,759	451
	Gunze Ltd.	15,622	450
	Life Corp.	19,710	450
	Ichigo Inc.	197,243	442
	GLOBERIDE Inc.	21,500	434
¹	SAMTY Co. Ltd.	26,900	434
	Noritake Co. Ltd.	13,640	433
	Yamazen Corp.	58,692	433
	Nissha Co. Ltd.	40,928	432
	Morita Holdings Corp.	44,916	431
	Kameda Seika Co. Ltd.	13,138	428
	MCJ Co. Ltd.	65,208	427
	Riso Kagaku Corp.	22,683	426
	Mitani Sekisan Co. Ltd.	10,700	426
	Ki-Star Real Estate Co. Ltd.	10,300	425
	Hyakujushi Bank Ltd.	32,678	424
	Roland Corp.	12,300	424
	Carta Holdings Inc.	22,300	423
	S Foods Inc.	18,136	422
	T Hasegawa Co. Ltd.	21,599	421
	Ryosan Co. Ltd.	23,578	419
	Mori Trust Hotel REIT Inc.	422	419
	Keiyo Bank Ltd.	109,753	418
	Shizuoka Gas Co. Ltd.	58,038	416
	Kitz Corp.	81,488	414
	Tsugami Corp.	44,462	414
	Nippon Signal Co. Ltd.	59,421	413
	SBS Holdings Inc.	17,800	413
	Adastria Co. Ltd.	24,672	409
	Fujimori Kogyo Co. Ltd.	14,830	409
	FCC Co. Ltd.	40,838	408
	Pacific Metals Co. Ltd.	14,633	408
	LITALICO Inc.	19,800	408
	Kaga Electronics Co. Ltd.	17,218	406
	Aida Engineering Ltd.	54,234	402
	Mitsui-Soko Holdings Co. Ltd.	21,600	402
	Shima Seiki Manufacturing Ltd.	28,168	402
	Prestige International Inc.	83,506	401
	Mitsubishi Shokuhin Co. Ltd.	16,135	400
	Katakura Industries Co. Ltd.	20,500	398
	Mandom Corp.	40,027	398
	San-Ai Oil Co. Ltd.	53,942	396
	Okamoto Industries Inc.	13,431	395
	Simplex Holdings Inc.	30,100	395
	Intage Holdings Inc.	32,350	394
	Monogatari Corp.	9,442	394
¹	Mitsubishi Logisnext Co. Ltd.	66,861	392
	Osaka Organic Chemical Industry Ltd.	18,200	392
	Restar Holdings Corp.	25,327	391
	Belc Co. Ltd.	9,158	390
	Topre Corp.	46,012	390
	Nippon Fine Chemical Co. Ltd.	24,300	390
	Bunka Shutter Co. Ltd.	51,648	388
	Bank of Nagoya Ltd.	16,018	387
	Giken Ltd.	14,037	385
	Fujibo Holdings Inc.	15,549	383

		Shares	Market Value• ($000)
	Arcland Sakamoto Co. Ltd.	31,880	382
	Komatsu Matere Co. Ltd.	32,943	382
	Saibu Gas Holdings Co. Ltd.	23,292	382
^*	MedPeer Inc.	16,688	382
	Towa Corp.	24,538	381
	Bell System24 Holdings Inc.	32,948	381
	Chudenko Corp.	23,582	379
	Micronics Japan Co. Ltd.	32,347	379
	Nitta Corp.	17,811	378
	Shinmaywa Industries Ltd.	53,729	377
	Ringer Hut Co. Ltd.	21,598	374
	Anicom Holdings Inc.	79,336	374
	FULLCAST Holdings Co. Ltd.	19,496	373
	Nikkiso Co. Ltd.	59,520	371
	Nagaileben Co. Ltd.	24,883	370
	Retail Partners Co. Ltd.	42,200	368
	Shibuya Corp.	20,404	368
	Fuji Media Holdings Inc.	42,384	366
	Nippon Pillar Packing Co. Ltd.	18,200	366
^*	Leopalace21 Corp.	242,676	365
	YAMABIKO Corp.	33,547	364
	Nippon Seiki Co. Ltd.	50,091	363
	Keihanshin Building Co. Ltd.	34,831	362
	Maruzen Showa Unyu Co. Ltd.	14,838	362
^*,1	W-Scope Corp.	49,083	362
	Sodick Co. Ltd.	64,514	361
	SKY Perfect JSAT Holdings Inc.	111,330	361
	Aeon Delight Co. Ltd.	16,814	359
	Sanyo Denki Co. Ltd.	8,359	359
¹	Shoei Foods Corp.	11,941	359
	Insource Co. Ltd.	21,000	358
	Nippon Kanzai Co. Ltd.	16,625	357
	United Arrows Ltd.	26,478	356
	Arata Corp.	12,849	355
	Raiznext Corp.	42,823	355
	Hiday Hidaka Corp.	24,749	354
	TOMONY Holdings Inc.	140,008	354
	Pacific Industrial Co. Ltd.	45,492	353
	Wakita & Co. Ltd.	42,399	353
	Senshu Ikeda Holdings Inc.	258,164	353
	Daito Pharmaceutical Co. Ltd.	17,650	353
	Financial Products Group Co. Ltd.	57,118	350
	Axial Retailing Inc.	13,334	349
	Yellow Hat Ltd.	27,966	349
	TechMatrix Corp.	22,600	349
	Infocom Corp.	20,415	348
	Itochu Enex Co. Ltd.	41,788	346
	Toho Titanium Co. Ltd.	30,250	346
	Argo Graphics Inc.	14,500	344
	Chugoku Marine Paints Ltd.	46,736	343
	METAWATER Co. Ltd.	20,696	342
	Sanyo Special Steel Co. Ltd.	22,277	341
	Toa Corp.	15,618	341

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Avex Inc.	31,455	338
	Ricoh Leasing Co. Ltd.	12,837	336
	Procrea Holdings Inc.	24,310	336
	Macromill Inc.	36,387	335
	Kanematsu Electronics Ltd.	11,145	333
	Tokyo Kiraboshi Financial Group Inc.	24,665	333
	Fuji Co. Ltd.	19,316	332
	Trancom Co. Ltd.	6,372	332
¹	Pharma Foods International Co. Ltd.	25,306	332
	Noritsu Koki Co. Ltd.	19,905	330
¹	Ryoyo Electro Corp.	21,006	330
	Sekisui Jushi Corp.	24,171	330
	Yuasa Trading Co. Ltd.	14,726	329
	Curves Holdings Co. Ltd.	56,168	329
	Tamura Corp.	77,447	327
	Uchida Yoko Co. Ltd.	8,659	327
	Hamakyorex Co. Ltd.	14,529	326
	Koa Corp.	27,869	325
	Nippon Television Holdings Inc.	33,762	324
	Daiki Aluminium Industry Co. Ltd.	29,235	324
	Exedy Corp.	27,163	323
	Nippon Ceramic Co. Ltd.	17,710	323
	Kanto Denka Kogyo Co. Ltd.	42,587	321
¹	Kisoji Co. Ltd.	20,200	321
	Zuken Inc.	13,835	320
	Nishio Rent All Co. Ltd.	14,733	318
	Aichi Bank Ltd.	8,959	317
	Fujicco Co. Ltd.	20,301	317
^*	Nippon Sheet Glass Co. Ltd.	104,982	317
	Plenus Co. Ltd.	21,590	317
	Nohmi Bosai Ltd.	21,400	315
	Taihei Dengyo Kaisha Ltd.	15,130	314
	Gakken Holdings Co. Ltd.	46,012	313
	Fukushima Galilei Co. Ltd.	10,748	311
	Mitsuuroko Group Holdings Co. Ltd.	40,200	311
^*	Nichi-iko Pharmaceutical Co. Ltd.	51,705	311
	Nippon Road Co. Ltd.	5,574	311
	Relia Inc.	37,706	310
	Nippon Carbon Co. Ltd.	9,651	310
	DyDo Group Holdings Inc.	7,959	309
	Tokyu Construction Co. Ltd.	66,680	309
	RS Technologies Co. Ltd.	6,700	309
	Oyo Corp.	20,302	308
	Toyo Tanso Co. Ltd.	14,135	307
	Hirata Corp.	8,315	306
	Tsubaki Nakashima Co. Ltd.	42,602	306
	MEC Co. Ltd.	15,946	304
	Nittetsu Mining Co. Ltd.	6,072	302
	Sato Holdings Corp.	21,793	300
	KFC Holdings Japan Ltd.	13,634	299
	Tsurumi Manufacturing Co. Ltd.	20,904	299
	Roland DG Corp.	11,946	298

		Shares	Market Value• ($000)
	Shikoku Chemicals Corp.	29,844	298
	SWCC Showa Holdings Co. Ltd.	22,299	298
	Solasto Corp.	43,100	298
	Aruhi Corp.	38,721	298
	Mitsuboshi Belting Ltd.	19,401	297
^*,1	Japan Display Inc.	576,339	297
	Direct Marketing MiX Inc.	24,000	295
	Mizuno Corp.	17,815	293
	Sakata INX Corp.	38,706	293
	Torii Pharmaceutical Co. Ltd.	11,642	293
	Alconix Corp.	27,120	293
	Keiyo Co. Ltd.	41,414	292
	Pasona Group Inc.	18,420	292
	Weathernews Inc.	5,574	291
	Furukawa Co. Ltd.	29,647	289
	Oiles Corp.	25,171	289
	Sakai Moving Service Co. Ltd.	8,459	289
	Hokuto Corp.	18,305	288
	Japan Pulp & Paper Co. Ltd.	9,849	288
	Takasago International Corp.	14,233	287
	Toho Zinc Co. Ltd.	13,438	287
	VT Holdings Co. Ltd.	80,194	284
	Nitto Kogyo Corp.	24,077	283
	Nippon Koei Co. Ltd.	12,635	282
	Toho Bank Ltd.	181,050	282
	IR Japan Holdings Ltd.	8,900	282
	Kyokuto Kaihatsu Kogyo Co. Ltd.	27,862	281
	Valqua Ltd.	13,931	280
	Konishi Co. Ltd.	23,680	278
¹	Airtrip Corp.	11,400	278
	Nissan Shatai Co. Ltd.	63,610	277
	Joshin Denki Co. Ltd.	17,814	275
	Doutor Nichires Holdings Co. Ltd.	23,871	274
	Komori Corp.	48,087	273
	Daiichi Jitsugyo Co. Ltd.	9,357	272
	Doshisha Co. Ltd.	22,997	271
	NS United Kaiun Kaisha Ltd.	9,855	271
¹	Tama Home Co. Ltd.	13,900	271
	Ishihara Sangyo Kaisha Ltd.	34,439	270
	Tsukishima Kikai Co. Ltd.	34,137	270
	IDOM Inc.	53,053	266
	Nippon Yakin Kogyo Co. Ltd.	13,531	264
	Yokorei Co. Ltd.	39,527	264
	Sanyo Electric Railway Co. Ltd.	16,423	262
	Nippon Denko Co. Ltd.	107,376	261
	Yondoshi Holdings Inc.	20,118	261
	Usen-Next Holdings Co. Ltd.	15,894	261
	Nippon Thompson Co. Ltd.	67,094	260
	T-Gaia Corp.	20,504	260
	Teikoku Sen-I Co. Ltd.	21,303	260
	Press Kogyo Co. Ltd.	86,293	259
^*	Nippon Chemi-Con Corp.	18,596	258
	Tokyo Electron Device Ltd.	6,172	256

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Chofu Seisakusho Co. Ltd.	17,311	255
	Piolax Inc.	21,888	255
	Zenrin Co. Ltd.	35,095	255
	Belluna Co. Ltd.	45,177	254
	Sintokogio Ltd.	48,078	253
	Union Tool Co.	8,756	252
	Koshidaka Holdings Co. Ltd.	42,168	252
	Shin-Etsu Polymer Co. Ltd.	31,932	251
	Siix Corp.	32,736	250
¹	YA-MAN Ltd.	26,170	249
	Bando Chemical Industries Ltd.	37,903	248
	Geo Holdings Corp.	25,464	247
	Bank of the Ryukyus Ltd.	39,342	245
¹	GMO GlobalSign Holdings KK	5,811	245
	Riso Kyoiku Co. Ltd.	82,000	243
	Cybozu Inc.	24,588	243
	Pressance Corp.	20,263	243
	Sinko Industries Ltd.	19,209	241
	COLOPL Inc.	48,882	241
	Ines Corp.	20,288	239
	Sinfonia Technology Co. Ltd.	24,678	239
	ARTERIA Networks Corp.	23,300	239
	KeePer Technical Laboratory Co. Ltd.	11,826	239
	Miyazaki Bank Ltd.	14,971	238
	TPR Co. Ltd.	24,872	238
	Yonex Co. Ltd.	36,528	238
	Seikagaku Corp.	36,422	237
	Tamron Co. Ltd.	13,427	237
	Genky DrugStores Co. Ltd.	8,400	236
	Maxvalu Tokai Co. Ltd.	11,800	236
	Hibiya Engineering Ltd.	15,995	235
	Alpen Co. Ltd.	15,528	235
	Fujio Food Group Inc.	22,700	235
	Mimasu Semiconductor Industry Co. Ltd.	13,034	234
	Elan Corp.	30,000	234
	Meisei Industrial Co. Ltd.	44,584	233
	Konoike Transport Co. Ltd.	26,159	232
	Softcreate Holdings Corp.	7,198	232
	Ehime Bank Ltd.	32,341	230
	Inageya Co. Ltd.	22,165	230
	Tenma Corp.	13,434	229
	TOC Co. Ltd.	44,392	229
	HI-LEX Corp.	26,100	229
	Kurabo Industries Ltd.	16,604	228
	San ju San Financial Group Inc.	21,073	228
¹	Broadleaf Co. Ltd.	80,826	228
	Obara Group Inc.	10,145	227
	J Trust Co. Ltd.	94,143	227
	Daiken Corp.	14,035	227
	PAL GROUP Holdings Co. Ltd.	20,302	227
	Key Coffee Inc.	14,522	227
	Japan Transcity Corp.	49,476	226

		Shares	Market Value• ($000)
	Takamatsu Construction Group Co. Ltd.	13,429	224
	Bank of Iwate Ltd.	15,124	224
	Marudai Food Co. Ltd.	19,196	224
	EM Systems Co. Ltd.	31,500	224
	Fukui Bank Ltd.	21,296	222
^*,1	Kappa Create Co. Ltd.	21,493	222
^*	Vision Inc.	22,313	222
	G-7 Holdings Inc.	17,700	222
	Computer Engineering & Consulting Ltd.	24,128	221
	ESPEC Corp.	16,612	221
^*	Atrae Inc.	15,976	221
	Chilled & Frozen Logistics Holdings Co. Ltd.	25,600	221
	Teikoku Electric Manufacturing Co. Ltd.	17,318	220
	Sumitomo Densetsu Co. Ltd.	12,835	220
	DKK Co. Ltd.	11,646	219
	Hosokawa Micron Corp.	11,542	219
	Starzen Co. Ltd.	14,332	218
	Hoosiers Holdings	43,400	218
	Kyokuyo Co. Ltd.	8,657	217
	Arcland Service Holdings Co. Ltd.	12,536	217
	gremz Inc.	17,300	216
	Kyoei Steel Ltd.	21,002	215
	Daikyonishikawa Corp.	55,345	214
	Mitsui DM Sugar Holdings Co. Ltd.	14,329	213
	Tachibana Eletech Co. Ltd.	17,100	213
	Yamanashi Chuo Bank Ltd.	28,156	213
	Aoyama Trading Co. Ltd.	41,682	212
	TV Asahi Holdings Corp.	18,600	212
	ES-Con Japan Ltd.	36,100	212
	Tokai Corp.	16,018	212
	Asahi Diamond Industrial Co. Ltd.	48,160	211
	Sun Frontier Fudousan Co. Ltd.	25,204	211
	Senshu Electric Co. Ltd.	5,531	211
	Matsuyafoods Holdings Co. Ltd.	7,163	209
	Shinko Shoji Co. Ltd.	28,830	209
	Tokushu Tokai Paper Co. Ltd.	7,860	209
^*	KNT-CT Holdings Co. Ltd.	17,349	208
	Matsuda Sangyo Co. Ltd.	11,843	208
	Eagle Industry Co. Ltd.	25,976	207
	JVCKenwood Corp.	145,475	207
	Vector Inc.	21,694	207
	WingArc1st Inc.	21,100	207
	Akita Bank Ltd.	16,024	206
	Halows Co. Ltd.	8,561	205
	Tachi-S Co. Ltd.	26,371	205
	Daiwa Industries Ltd.	23,977	204
	Hakuto Co. Ltd.	11,645	204
	Tosei Corp.	24,273	204
	Marusan Securities Co. Ltd.	53,329	203

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Sinanen Holdings Co. Ltd.	8,160	203
^*	Mitsui E&S Holdings Co. Ltd.	74,957	202
	Dai-Dan Co. Ltd.	12,369	202
	Shin Nippon Biomedical Laboratories Ltd.	19,210	202
	Ryobi Ltd.	24,477	202
	Yukiguni Maitake Co. Ltd.	25,000	202
^*	Matsuya Co. Ltd.	36,619	201
	DKS Co. Ltd.	10,000	201
	Oita Bank Ltd.	14,029	200
	Shikoku Bank Ltd.	33,436	200
	Onward Holdings Co. Ltd.	106,659	199
	J-Oil Mills Inc.	16,316	199
	Okabe Co. Ltd.	38,911	198
	Unipres Corp.	34,320	198
	I'll Inc.	18,700	198
	Goldcrest Co. Ltd.	15,126	197
	Alpha Systems Inc.	6,667	197
	Pack Corp.	10,746	197
¹	Rock Field Co. Ltd.	17,912	196
	Marvelous Inc.	33,169	195
	Poletowin Pitcrew Holdings Inc.	25,600	195
	Canon Electronics Inc.	16,916	194
	Itochu-Shokuhin Co. Ltd.	5,076	194
	Nichireki Co. Ltd.	20,800	194
	JAC Recruitment Co. Ltd.	13,734	193
	Nichiden Corp.	11,540	192
	Sumitomo Seika Chemicals Co. Ltd.	8,159	192
	Riken Vitamin Co. Ltd.	14,428	190
	Aiphone Co. Ltd.	12,345	189
	Shinwa Co. Ltd.	12,349	189
	Sakai Chemical Industry Co. Ltd.	13,428	189
	Tochigi Bank Ltd.	101,542	189
	Aichi Steel Corp.	10,847	188
¹	Kansai Super Market Ltd.	18,112	188
	CMK Corp.	46,881	187
	Anest Iwata Corp.	29,550	187
	Tanseisha Co. Ltd.	30,449	186
	Yamagata Bank Ltd.	27,958	186
	Onoken Co. Ltd.	15,930	185
	Chubu Shiryo Co. Ltd.	23,379	184
	Fujiya Co. Ltd.	9,951	184
	Midac Holdings Co. Ltd.	11,435	184
	Dainichiseika Color & Chemicals Manufacturing Co. Ltd.	12,019	183
	V Technology Co. Ltd.	7,958	183
	Takara Leben Co. Ltd.	80,012	183
	Torishima Pump Manufacturing Co. Ltd.	18,601	183
	Tess Holdings Co. Ltd.	17,200	183
	Kamei Corp.	22,696	182
	Mie Kotsu Group Holdings Inc.	51,136	181
	Vital KSK Holdings Inc.	30,842	181
	Qol Holdings Co. Ltd.	21,327	180

		Shares	Market Value• ($000)
	ASKA Pharmaceutical Holdings Co. Ltd.	19,704	180
	Daikokutenbussan Co. Ltd.	4,877	179
^*,1	Open Door Inc.	12,400	179
	Furuno Electric Co. Ltd.	24,689	178
^*	OSAKA Titanium Technologies Co. Ltd.	17,314	178
	FIDEA Holdings Co. Ltd.	17,890	178
	Chiyoda Integre Co. Ltd.	10,546	177
	Cawachi Ltd.	11,246	177
	Yurtec Corp.	33,551	177
	Nissin Sugar Co. Ltd.	13,400	177
	Sparx Group Co. Ltd.	88,900	175
	Oriental Shiraishi Corp.	96,929	175
	G-Tekt Corp.	18,104	174
	Mitsubishi Research Institute Inc.	5,771	174
	Tosho Co. Ltd.	12,931	173
	CTS Co. Ltd.	25,891	172
	TSI Holdings Co. Ltd.	73,484	172
	CONEXIO Corp.	15,324	172
	Studio Alice Co. Ltd.	9,656	171
	Daido Metal Co. Ltd.	39,634	170
	Denyo Co. Ltd.	13,729	170
	Miroku Jyoho Service Co. Ltd.	16,712	170
	Melco Holdings Inc.	5,559	170
¹	Taki Chemical Co. Ltd.	4,300	170
	Fukuda Corp.	4,776	169
	Aichi Corp.	24,182	168
	Enplas Corp.	7,851	168
	Modec Inc.	17,909	168
	Tekken Corp.	11,842	168
	Toenec Corp.	6,568	168
	Icom Inc.	9,055	167
	Digital Holdings Inc.	14,700	166
	Shibusawa Warehouse Co. Ltd.	9,556	166
	Shin Nippon Air Technologies Co. Ltd.	12,000	166
	Toyo Corp.	20,795	166
	Happinet Corp.	14,134	165
	JP-Holdings Inc.	100,445	165
	Nippon Parking Development Co. Ltd.	139,410	165
^*,1	giftee Inc.	20,941	165
	CI Takiron Corp.	38,420	164
	Aisan Industry Co. Ltd.	30,051	162
	Futaba Corp.	31,735	162
	Futaba Industrial Co. Ltd.	53,129	162
	Shindengen Electric Manufacturing Co. Ltd.	7,264	162
	Nissei ASB Machine Co. Ltd.	7,063	161
	Okuwa Co. Ltd.	23,977	161
	Tonami Holdings Co. Ltd.	5,969	161
	Nippon Rietec Co. Ltd.	18,500	161
	ASAHI YUKIZAI Corp.	11,044	159
	Stella Chemifa Corp.	8,459	159
	K&O Energy Group Inc.	12,436	159
	Nichiban Co. Ltd.	11,800	158
	World Holdings Co. Ltd.	8,400	158
	JM Holdings Co. Ltd.	12,600	158
	SIGMAXYZ Holdings Inc.	19,300	158
	AOKI Holdings Inc.	33,423	157

Pacific Stock Index Fund

		Shares	Market Value• ($000)
^*	Kintetsu Department Store Co. Ltd.	7,958	157
	Warabeya Nichiyo Holdings Co. Ltd.	12,239	157
	Rheon Automatic Machinery Co. Ltd.	18,386	156
	Proto Corp.	19,900	156
	Nihon Nohyaku Co. Ltd.	33,681	155
	World Co. Ltd.	15,500	155
	Ryoden Corp.	11,940	154
	Nagatanien Holdings Co. Ltd.	10,048	151
	LEC Inc.	22,484	151
	Xebio Holdings Co. Ltd.	21,398	151
	Kyosan Electric Manufacturing Co. Ltd.	44,483	150
	Fukui Computer Holdings Inc.	5,969	149
	Hodogaya Chemical Co. Ltd.	5,373	149
	WDB Holdings Co. Ltd.	7,076	149
	Kyodo Printing Co. Ltd.	7,165	148
	Sagami Holdings Corp.	17,211	148
	Hokkaido Gas Co. Ltd.	12,649	147
	Ichikoh Industries Ltd.	50,744	147
	Kurimoto Ltd.	11,945	147
	Chori Co. Ltd.	9,952	146
	JDC Corp.	35,500	146
	Riken Technos Corp.	43,193	145
	France Bed Holdings Co. Ltd.	21,498	145
	BRONCO BILLY Co. Ltd.	8,059	145
	Optorun Co. Ltd.	9,700	144
¹	V-Cube Inc.	20,628	144
^*	PIA Corp.	5,971	143
	Nippon Coke & Engineering Co. Ltd.	136,722	143
¹	SB Technology Corp.	8,300	143
	Tokyo Energy & Systems Inc.	18,910	142
	Yahagi Construction Co. Ltd.	22,986	142
	Chukyo Bank Ltd.	11,145	141
	Fudo Tetra Corp.	11,771	141
	Amuse Inc.	9,354	141
	Sankyo Seiko Co. Ltd.	33,535	141
	Tayca Corp.	15,288	141
	Riken Corp.	7,660	140
	Towa Bank Ltd.	33,647	140
	St. Marc Holdings Co. Ltd.	12,234	140
	Medical Data Vision Co. Ltd.	18,726	140
	Neturen Co. Ltd.	30,740	139
	Moriroku Holdings Co. Ltd.	10,200	139
	Kanagawa Chuo Kotsu Co. Ltd.	5,370	138
	Osaki Electric Co. Ltd.	36,610	138
^*	SRE Holdings Corp.	6,683	138
	Sumitomo Riko Co. Ltd.	31,833	136
	Toyo Kanetsu KK	7,260	136
	Japan Medical Dynamic Marketing Inc.	11,155	136
	Bank of Saga Ltd.	12,244	135
	Dai Nippon Toryo Co. Ltd.	22,386	135

		Shares	Market Value• ($000)
	Feed One Co. Ltd.	26,468	135
	FAN Communications Inc.	40,603	135
	Ichiyoshi Securities Co. Ltd.	30,438	134
	Topy Industries Ltd.	16,918	134
	SRA Holdings	6,168	134
¹	Link And Motivation Inc.	38,000	134
	Elematec Corp.	14,728	133
	Kenko Mayonnaise Co. Ltd.	12,438	133
	Advan Group Co. Ltd.	20,987	132
	YAKUODO Holdings Co. Ltd.	9,552	132
¹	Nippon Sharyo Ltd.	8,068	131
	JSP Corp.	11,248	130
	Koatsu Gas Kogyo Co. Ltd.	25,873	130
	Rokko Butter Co. Ltd.	10,944	130
	Shinnihon Corp.	23,682	130
	Nippon Beet Sugar Manufacturing Co. Ltd.	10,051	128
	Ubicom Holdings Inc.	5,800	127
^*	Fujita Kanko Inc.	6,965	126
	Hochiki Corp.	13,600	126
	Nissin Corp.	10,549	126
	Asahi Co. Ltd.	12,343	126
	Sumida Corp.	19,355	125
^*,1	Taiko Pharmaceutical Co. Ltd.	27,031	125
	Seika Corp.	9,954	124
	Arakawa Chemical Industries Ltd.	15,422	123
	Ministop Co. Ltd.	11,444	123
	Shimizu Bank Ltd.	10,263	123
¹	Raccoon Holdings Inc.	11,547	123
	Sanei Architecture Planning Co. Ltd.	9,400	122
	ZIGExN Co. Ltd.	51,600	122
	Kanaden Corp.	16,616	121
	Achilles Corp.	12,130	121
	Takaoka Toko Co. Ltd.	9,752	121
	Japan Best Rescue System Co. Ltd.	15,400	121
	ST Corp.	10,349	120
	Nihon Chouzai Co. Ltd.	12,338	120
	Fixstars Corp.	18,700	119
	Iseki & Co. Ltd.	12,431	118
^*	Optim Corp.	17,782	118
	Krosaki Harima Corp.	3,781	117
	Honeys Holdings Co. Ltd.	14,230	117
	Cosel Co. Ltd.	19,897	116
	Chiyoda Co. Ltd.	21,187	115
^*	BrainPad Inc.	13,140	115
	Pronexus Inc.	13,931	114
	Fuso Pharmaceutical Industries Ltd.	6,867	113
	Hisaka Works Ltd.	19,202	113
	Tatsuta Electric Wire and Cable Co. Ltd.	31,744	113
^*	Unitika Ltd.	52,343	113
^*	WATAMI Co. Ltd.	15,818	113
	Inui Global Logistics Co. Ltd.	8,803	113
	Mars Group Holdings Corp.	8,558	112

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Sankyo Tateyama Inc.	24,977	112
	Sanoh Industrial Co. Ltd.	20,698	112
	Toa Corp. (XTKS)	20,697	112
	Kawada Technologies Inc.	4,080	112
	Akatsuki Inc.	4,800	111
	Ebase Co. Ltd.	33,400	111
	Yorozu Corp.	18,513	110
	Hito Communications Holdings Inc.	9,253	110
	Nitto Kohki Co. Ltd.	9,450	109
	Toa Oil Co. Ltd.	5,273	109
¹	Furukawa Battery Co. Ltd.	11,763	109
^*,1	Sourcenext Corp.	77,200	108
	Kyokuto Securities Co. Ltd.	20,100	108
	Artnature Inc.	19,006	108
	CAC Holdings Corp.	10,247	107
	Enigmo Inc.	27,100	107
	Aeon Fantasy Co. Ltd.	6,370	105
	Taisei Lamick Co. Ltd.	5,274	105
	Tomoku Co. Ltd.	9,056	104
	NEC Capital Solutions Ltd.	6,866	104
	Osaka Steel Co. Ltd.	9,448	102
	Maezawa Kyuso Industries Co. Ltd.	14,416	101
	Central Security Patrols Co. Ltd.	6,202	100
	Fuji Pharma Co. Ltd.	13,730	100
	Kojima Co. Ltd.	20,493	100
	LIFULL Co. Ltd.	57,339	100
	Foster Electric Co. Ltd.	18,598	99
	Okura Industrial Co. Ltd.	6,964	98
¹	Zuiko Corp.	16,128	97
^*	KLab Inc.	28,264	96
	Central Sports Co. Ltd.	5,146	94
	CMIC Holdings Co. Ltd.	8,158	94
	Yushin Precision Equipment Co. Ltd.	19,504	94
	Yamashin-Filter Corp.	35,599	94
^*,1	Gunosy Inc.	11,600	93
	Tokyo Individualized Educational Institute Inc.	20,004	90
	Hokkan Holdings Ltd.	9,355	90
	Kamakura Shinsho Ltd.	20,500	90
	Tv Tokyo Holdings Corp.	5,674	89
	Oro Co. Ltd.	5,700	89
	MTI Ltd.	24,078	88
	Corona Corp. Class A	13,240	86
^*	Godo Steel Ltd.	8,458	85
	Nihon Tokushu Toryo Co. Ltd.	13,800	85
	Mitsuba Corp.	30,939	84
	Kourakuen Holdings Corp.	8,557	83
	Sekisui Kasei Co. Ltd.	24,382	83
	Nisso Corp.	16,400	83
	Airport Facilities Co. Ltd.	19,815	82
	Chuo Spring Co. Ltd.	15,928	82
^*	COOKPAD Inc.	39,391	82
	Tsutsumi Jewelry Co. Ltd.	5,567	81
^*	Gurunavi Inc.	24,584	80
^*	RPA Holdings Inc.	28,222	79
	Media Do Co. Ltd.	5,930	78

		Shares	Market Value• ($000)
^*	Akebono Brake Industry Co. Ltd.	64,876	77
	I-PEX Inc.	6,966	76
¹	Daisyo Corp.	8,858	71
¹	Kitanotatsujin Corp.	54,100	71
	Ohara Inc.	8,300	70
^*	TerraSky Co. Ltd.	6,890	70
	Wowow Inc.	5,849	69
	Nihon Trim Co. Ltd.	3,879	67
	Taiho Kogyo Co. Ltd.	13,235	65
	Cleanup Corp.	16,030	65
	Toho Co. Ltd.	7,459	65
¹	Inaba Seisakusho Co. Ltd.	6,263	62
	Shimojima Co. Ltd.	8,651	62
	Chuetsu Pulp & Paper Co. Ltd.	8,359	60
^*	FDK Corp.	10,764	60
	Linical Co. Ltd.	9,651	60
	Fibergate Inc.	6,726	60
	Gecoss Corp.	9,850	59
	Sac's Bar Holdings Inc.	14,616	57
^*	Jamco Corp.	9,155	56
^*	Right On Co. Ltd.	10,250	56
	Sanshin Electronics Co. Ltd.	4,700	55
^*	CHIMNEY Co. Ltd.	5,968	53
^*	Istyle Inc.	42,576	51
¹	Kanamic Network Co. Ltd.	13,200	51
	Takamiya Co. Ltd.	17,916	49
	Ateam Inc.	8,657	48
	Robot Home Inc.	25,882	40
^*	Tokyo Base Co. Ltd.	14,500	37
	PC Depot Corp.	15,100	36
	Takihyo Co. Ltd.	4,076	34
	Tokyo Rakutenchi Co. Ltd.	1,100	33
	Nakayama Steel Works Ltd.	9,829	32
^*	Laox Co. Ltd.	16,883	22
^*	Heroz Inc.	3,000	21
^*	Edulab Inc.	525	2
			4,289,032
New Zealand (0.9%)
	Fisher & Paykel Healthcare Corp. Ltd.	598,205	8,221
	Spark New Zealand Ltd.	1,994,484	6,308
^*	Auckland International Airport Ltd.	1,237,965	6,218
	Mainfreight Ltd.	85,316	4,466
	Contact Energy Ltd.	821,238	4,314
	Meridian Energy Ltd.	1,308,151	3,970
	Fletcher Building Ltd.	855,410	3,408
	EBOS Group Ltd.	112,299	3,063
	Infratil Ltd.	544,059	2,944
	Mercury NZ Ltd.	723,668	2,806
	Ryman Healthcare Ltd.	440,755	2,608
^*	a2 Milk Co. Ltd.	777,241	2,463
	Chorus Ltd.	484,103	2,297
	Summerset Group Holdings Ltd.	246,819	1,859
	Goodman Property Trust	1,181,633	1,720
	SKYCITY Entertainment Group Ltd.	830,094	1,551
	Precinct Properties New Zealand Ltd.	1,522,265	1,488

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Freightways Ltd.	181,176	1,432
³	Z Energy Ltd.	513,635	1,248
	Kiwi Property Group Ltd.	1,743,844	1,189
	Genesis Energy Ltd.	580,315	1,072
³	Vital Healthcare Property Trust	441,725	890
^*	Air New Zealand Ltd.	1,433,325	813
	Stride Property Group	577,512	737
	Argosy Property Ltd.	859,658	720
	Arvida Group Ltd.	682,099	720
	Heartland Group Holdings Ltd.	469,922	694
	Vector Ltd.	225,485	641
^*	Pushpay Holdings Ltd.	725,665	612
	Skellerup Holdings Ltd.	163,873	604
	Oceania Healthcare Ltd.	746,193	495
	KMD Brands Ltd.	524,643	465
^*,1	Pacific Edge Ltd.	676,906	391
¹	Scales Corp. Ltd.	99,647	311
^*	SKY Network Television Ltd.	166,225	287
^*	Serko Ltd.	77,445	254
^*	Tourism Holdings Ltd.	124,256	240
^*	Vista Group International Ltd.	179,170	215
^*,1	Synlait Milk Ltd.	89,863	205
	Restaurant Brands New Zealand Ltd.	23,921	199
^*,3	Vital Healthcare Property Rights	51,724	—
			74,138
Singapore (3.3%)
	DBS Group Holdings Ltd.	1,886,113	45,758
	Oversea-Chinese Banking Corp. Ltd.	3,659,497	32,491
	United Overseas Bank Ltd.	1,350,890	28,917
	Singapore Telecommunications Ltd.	7,907,515	15,782
	CapitaLand Integrated Commercial Trust	5,205,671	8,723
^*	Capitaland Investment Ltd.	2,709,905	8,217
	Keppel Corp. Ltd.	1,520,860	7,501
	Ascendas REIT	3,579,010	7,364
	Wilmar International Ltd.	2,187,016	6,972
	Singapore Exchange Ltd.	859,618	6,049
^*	Singapore Airlines Ltd.	1,360,783	5,364
	Singapore Technologies Engineering Ltd.	1,623,330	4,781
	Mapletree Logistics Trust	3,385,672	4,348
	Mapletree Industrial Trust	1,888,121	3,548
	Genting Singapore Ltd.	6,058,294	3,517
	Venture Corp. Ltd.	276,116	3,390
	Frasers Logistics & Commercial Trust	2,989,756	3,113
	Mapletree Commercial Trust	2,242,137	3,016
	Suntec REIT	2,259,466	2,985
	City Developments Ltd.	478,917	2,936
	UOL Group Ltd.	536,097	2,817
	ComfortDelGro Corp. Ltd.	2,225,004	2,350
^*	SATS Ltd.	705,041	2,302

		Shares	Market Value• ($000)
	Jardine Cycle & Carriage Ltd.	106,427	2,218
	NetLink NBN Trust	3,052,800	2,202
	Mapletree North Asia Commercial Trust	2,460,900	2,125
	Sembcorp Industries Ltd.	966,668	2,047
	Frasers Centrepoint Trust	1,100,843	1,939
	Keppel DC REIT	1,286,378	1,918
	Keppel REIT	2,184,982	1,914
³	SPH REIT	2,472,239	1,744
	Ascott Residence Trust	2,028,998	1,686
	Parkway Life REIT	442,454	1,542
	Golden Agri-Resources Ltd.	6,557,150	1,532
	ESR-REIT	5,383,137	1,510
	Keppel Infrastructure Trust	3,702,480	1,478
^*	Sembcorp Marine Ltd.	17,372,525	1,362
	Hutchison Port Holdings Trust Class U	5,449,399	1,299
	Haw Par Corp. Ltd.	143,300	1,206
	CapitaLand China Trust	1,265,030	1,063
	Manulife US REIT	1,606,575	1,001
	AEM Holdings Ltd.	286,200	980
	Olam Group Ltd.	767,800	938
	Ascendas India Trust	945,500	854
	Raffles Medical Group Ltd.	965,037	833
	First Resources Ltd.	535,489	817
	CDL Hospitality Trusts	844,653	812
	Singapore Post Ltd.	1,516,329	779
	Cromwell European REIT	320,080	777
	Keppel Pacific Oak US REIT	960,000	695
	Starhill Global REIT	1,590,101	681
	OUE Commercial REIT	2,087,316	624
	iFAST Corp. Ltd.	159,400	572
	AIMS APAC REIT	547,900	560
	Far East Hospitality Trust	1,139,089	549
	StarHub Ltd.	601,070	545
	Sheng Siong Group Ltd.	428,899	474
	Wing Tai Holdings Ltd.	365,352	459
	Prime US REIT	603,753	445
	Sabana Industrial REIT	1,319,259	432
	UMS Holdings Ltd.	488,300	416
^*	SIA Engineering Co. Ltd.	214,009	411
	Nanofilm Technologies International Ltd.	213,000	411
	Riverstone Holdings Ltd.	565,500	393
^*	Thomson Medical Group Ltd.	6,192,700	360
	Lendlease Global Commercial REIT	533,300	305
	Frasers Hospitality Trust	626,900	291
	First REIT	1,044,508	236
	Lippo Malls Indonesia Retail Trust	5,016,496	216
	Silverlake Axis Ltd.	803,336	187
	Asian Pay Television Trust	1,761,217	168
	Bumitama Agri Ltd.	289,847	162
^*	COSCO Shipping International Singapore Co. Ltd.	847,800	150
^*,3	Best World International Ltd.	140,586	138

Pacific Stock Index Fund

		Shares	Market Value• ($000)
^*	Yoma Strategic Holdings Ltd.	1,014,847	111
^*,3	Eagle Hospitality Trust	700,500	96
^*,1,3	Ezra Holdings Ltd.	1,786,900	14
^*,3	Hyflux Ltd.	516,932	—
^*,1	Ezion Holdings Ltd. Warrants Exp. 4/16/23	1,048,679	—
			258,918
South Korea (13.3%)
	Samsung Electronics Co. Ltd.	4,969,968	264,867
	SK Hynix Inc.	543,224	47,602
	Samsung Electronics Co. Ltd. Preference Shares	854,842	40,078
	NAVER Corp.	142,876	31,827
	Samsung SDI Co. Ltd.	55,746	26,555
	LG Chem Ltd.	52,498	21,501
	Hyundai Motor Co.	146,353	21,234
	Kakao Corp.	285,383	19,935
	KB Financial Group Inc.	409,569	19,055
	Kia Corp.	268,360	17,602
	Shinhan Financial Group Co. Ltd.	526,865	17,505
	Celltrion Inc.	113,928	15,765
	POSCO Holdings Inc.	68,333	15,602
	Hana Financial Group Inc.	304,344	11,299
	LG Electronics Inc.	119,946	10,863
	Hyundai Mobis Co. Ltd.	65,306	10,624
^*,2	Samsung Biologics Co. Ltd.	15,011	9,901
¹	HMM Co. Ltd.	440,824	9,771
^*	SK Innovation Co. Ltd.	57,033	9,077
	Samsung C&T Corp.	85,999	7,781
	SK Inc.	36,819	7,730
	Samsung Electro-Mechanics Co. Ltd.	58,679	7,595
	KT&G Corp.	115,330	7,574
	Woori Financial Group Inc.	649,446	7,524
^*,1	Doosan Heavy Industries & Construction Co. Ltd.	377,637	6,008
	NCSoft Corp.	17,779	5,888
^*	Krafton Inc.	29,531	5,801
	Samsung Fire & Marine Insurance Co. Ltd.	34,343	5,693
¹	LG Corp.	90,745	5,240
^*	Korea Electric Power Corp.	269,912	4,925
	Korea Zinc Co. Ltd.	10,442	4,767
^*	KakaoBank Corp.	143,813	4,754
^*	Korean Air Lines Co. Ltd.	186,374	4,392
	LG Household & Health Care Ltd. Preference Shares	11,143	4,386
^*	SK Square Co. Ltd.	102,156	4,220
	Samsung SDS Co. Ltd.	36,034	4,199
¹	LG Innotek Co. Ltd.	14,977	4,064
	Celltrion Healthcare Co. Ltd.	78,972	3,977
^*,1	L&F Co. Ltd.	23,041	3,898
^*	HYBE Co. Ltd.	18,679	3,668
	S-Oil Corp.	43,657	3,572
	Samsung Life Insurance Co. Ltd.	67,943	3,493

		Shares	Market Value• ($000)
¹	Ecopro BM Co. Ltd.	9,393	3,470
^*	Samsung Engineering Co. Ltd.	169,398	3,456
	Coway Co. Ltd.	60,679	3,399
^*	Korea Shipbuilding & Offshore Engineering Co. Ltd.	46,147	3,320
¹	Hyundai Glovis Co. Ltd.	19,921	3,264
^*	Samsung Heavy Industries Co. Ltd.	667,993	3,189
¹	LG Display Co. Ltd.	237,893	3,108
¹	POSCO Chemical Co. Ltd.	29,368	3,102
	Amorepacific Corp. Preference Shares	49,932	3,001
	Hyundai Steel Co.	81,683	2,776
	Hyundai Motor Co. Preference Shares (XKRS)	36,282	2,716
	LG Household & Health Care Ltd.	3,790	2,714
	Hyundai Engineering & Construction Co. Ltd.	77,063	2,681
^*,2	SK IE Technology Co. Ltd.	27,197	2,679
^*	Hanwha Solutions Corp.	103,123	2,592
	DB Insurance Co. Ltd.	47,953	2,561
	LG Uplus Corp.	229,346	2,534
	SK Telecom Co. Ltd.	55,658	2,511
^*	Kangwon Land Inc.	119,247	2,506
	Hyundai Heavy Industries Holdings Co. Ltd.	54,000	2,480
	Lotte Chemical Corp.	15,758	2,432
¹	Industrial Bank of Korea	271,995	2,413
	SKC Co. Ltd.	20,493	2,395
	Korea Aerospace Industries Ltd.	69,387	2,392
	CJ CheilJedang Corp.	7,588	2,386
¹	Yuhan Corp.	48,204	2,322
^*,1	HLB Inc.	95,334	2,320
	Korea Investment Holdings Co. Ltd.	40,942	2,270
¹	E-MART Inc.	21,913	2,268
	Kumho Petrochemical Co. Ltd.	18,696	2,261
^*	SK Bioscience Co. Ltd.	21,391	2,261
	Mirae Asset Securities Co. Ltd.	353,812	2,238
	Hankook Tire & Technology Co. Ltd.	78,802	2,163
	Samsung Securities Co. Ltd.	66,828	2,087
¹	Hotel Shilla Co. Ltd.	32,453	2,065
	GS Engineering & Construction Corp.	62,438	2,056
	BNK Financial Group Inc.	323,172	2,004
	Meritz Fire & Marine Insurance Co. Ltd.	56,995	1,994
	DB HiTek Co. Ltd.	37,361	1,960
	F&F Co. Ltd.	17,085	1,886
	GS Holdings Corp.	53,526	1,849
	Hanmi Pharm Co. Ltd.	7,212	1,780
	Orion Corp.Republic of Korea	23,850	1,778
^*,1	Pearl Abyss Corp.	33,242	1,770
^*,1	SK Biopharmaceuticals Co. Ltd.	24,121	1,743

Pacific Stock Index Fund

		Shares	Market Value• ($000)
¹	Hansol Chemical Co. Ltd.	8,860	1,705
	Hyundai Marine & Fire Insurance Co. Ltd.	65,273	1,682
	Amorepacific Corp.	11,817	1,682
¹	OCI Co. Ltd.	19,311	1,595
^*	Hyundai Heavy Industries Co. Ltd.	14,477	1,588
	Meritz Securities Co. Ltd.	305,461	1,579
	Hanwha Aerospace Co. Ltd.	37,231	1,558
	Hanon Systems	173,737	1,555
	Hyundai Motor Co. Preference Shares	20,653	1,533
	DL E&C Co. Ltd.	32,262	1,517
	Mando Corp.	35,391	1,501
^*,1	Celltrion Pharm Inc.	20,649	1,501
	Shinsegae Inc.	7,605	1,482
	Cheil Worldwide Inc.	73,501	1,467
¹	SK Chemicals Co. Ltd.	14,647	1,461
^*,1	Hyundai Mipo Dockyard Co. Ltd.	21,802	1,431
	Fila Holdings Corp.	55,489	1,418
²	Netmarble Corp.	18,507	1,391
	LEENO Industrial Inc.	9,953	1,380
^*,1	Alteogen Inc.	30,536	1,377
^*	Kakao Games Corp.	28,996	1,356
	JYP Entertainment Corp.	29,081	1,349
	SD Biosensor Inc.	35,446	1,268
	AMOREPACIFIC Group	32,066	1,262
	Youngone Corp.	32,789	1,236
	Iljin Materials Co. Ltd.	18,007	1,234
¹	Hyosung Advanced Materials Corp.	3,304	1,230
¹	Ecopro Co. Ltd.	18,621	1,228
	NH Investment & Securities Co. Ltd.	143,464	1,224
	KCC Corp.	4,583	1,222
^*,1	Hyundai Rotem Co. Ltd.	80,981	1,207
	LOTTE Fine Chemical Co. Ltd.	18,559	1,191
¹	WONIK IPS Co. Ltd.	37,356	1,170
	S-1 Corp.	21,445	1,168
	CJ ENM Co. Ltd.	11,025	1,107
	KIWOOM Securities Co. Ltd.	14,372	1,073
	Pan Ocean Co. Ltd.	205,255	1,073
	JB Financial Group Co. Ltd.	151,225	1,070
¹	Wemade Co. Ltd.	17,826	1,058
^*,1	Daewoo Shipbuilding & Marine Engineering Co. Ltd.	50,465	1,040
¹	Hyosung TNC Corp.	3,192	1,031
^*	Daewoo Engineering & Construction Co. Ltd.	193,119	1,024
	Posco International Corp.	52,161	1,013
	Hite Jinro Co. Ltd.	34,392	1,012
	Koh Young Technology Inc.	66,186	1,002
	Hyundai Department Store Co. Ltd.	16,744	997
¹	LX Semicon Co. Ltd.	9,647	995
¹	CS Wind Corp.	21,199	992
^*,1	Hanjin Kal Corp.	21,901	990
	Kolon Industries Inc.	20,270	987
¹	BGF retail Co. Ltd.	6,868	982

		Shares	Market Value• ($000)
¹	Chunbo Co. Ltd.	4,497	976
	Seegene Inc.	30,713	974
	DGB Financial Group Inc.	135,813	957
	GS Retail Co. Ltd.	42,203	955
	CJ Corp.	13,824	944
	Hanwha Corp. Preference Shares	74,795	941
	SM Entertainment Co. Ltd.	17,590	938
¹	Dongjin Semichem Co. Ltd.	31,157	918
^*	CosmoAM&T Co. Ltd.	21,013	916
¹	Green Cross Corp.	6,146	912
	LS Corp.	19,929	905
	Korea Gas Corp.	27,544	900
^*	Wysiwyg Studios Co. Ltd.	34,500	893
	Meritz Financial Group Inc.	29,781	892
	Lotte Shopping Co. Ltd.	11,984	888
¹	Dongkuk Steel Mill Co. Ltd.	59,765	874
	Samsung Card Co. Ltd.	32,586	863
	Soulbrain Co. Ltd.	4,403	847
^*,1	Doosan Fuel Cell Co. Ltd.	31,119	845
^*	CJ Logistics Corp.	8,696	842
	Hyundai Wia Corp.	16,441	839
^*,1	Hyundai Bioscience Co. Ltd.	36,282	823
^*	Shin Poong Pharmaceutical Co. Ltd.	34,513	823
^*	LG Energy Solution	2,475	822
	Doosan Bobcat Inc.	25,123	816
¹	Hanwha Systems Co. Ltd.	66,297	816
	Daeduck Electronics Co. Ltd.	34,328	815
^*,1	KMW Co. Ltd.	30,907	796
¹	Foosung Co. Ltd.	53,168	787
	NongShim Co. Ltd.	3,280	784
¹	Eo Technics Co. Ltd.	8,913	781
¹	Com2uSCorp	10,308	766
	KEPCO Engineering & Construction Co. Inc.	13,283	762
^*	Hyundai Doosan Infracore Co. Ltd.	146,869	760
	Hyundai Elevator Co. Ltd.	27,047	759
	Lotte Corp.	27,956	754
¹	SIMMTECH Co. Ltd.	19,411	748
	LX International Corp.	24,262	740
^*	Chabiotech Co. Ltd.	49,658	730
	Chong Kun Dang Pharmaceutical Corp.	9,189	718
^*	SOLUM Co. Ltd.	36,798	713
	ST Pharm Co. Ltd.	9,267	711
	SSANGYONG C&E Co. Ltd.	107,844	708
	LIG Nex1 Co. Ltd.	10,928	707
	Korean Reinsurance Co.	92,025	704
	People & Technology Inc.	17,854	703
	Daewoong Pharmaceutical Co. Ltd.	4,854	698
	ESR Kendall Square REIT Co. Ltd.	119,736	698

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	DL Holdings Co. Ltd.	14,176	691
¹	Dongsuh Cos. Inc.	32,654	690
^*	Genexine Inc.	21,602	684
^*	Hanwha Life Insurance Co. Ltd.	292,062	677
^*	HLB Life Science Co. Ltd.	83,252	675
	Solus Advanced Materials Co. Ltd.	11,914	669
	Hyosung Corp.	10,198	668
¹	KEPCO Plant Service & Engineering Co. Ltd.	22,283	666
¹	Daejoo Electronic Materials Co. Ltd.	10,265	662
	Dawonsys Co. Ltd.	28,487	661
^*,1	Paradise Co. Ltd.	49,997	651
^*	Hugel Inc.	6,561	646
^*	GeneOne Life Science Inc.	73,418	643
	LOTTE REIT Co. Ltd.	135,321	639
	Douzone Bizon Co. Ltd.	19,851	635
^*,1	Naturecell Co. Ltd.	47,607	634
	AfreecaTV Co. Ltd.	7,335	629
^*	Hana Tour Service Inc.	9,665	628
¹	Hanssem Co. Ltd.	10,069	623
	Mirae Asset Securities Co. Ltd. Preference Shares	176,860	621
	LS Electric Co. Ltd.	16,447	618
¹	Green Cross Holdings Corp.	34,961	608
	SFA Engineering Corp.	19,312	604
	MegaStudyEdu Co. Ltd.	7,878	592
¹	Jusung Engineering Co. Ltd.	35,485	589
¹	HDC Hyundai Development Co-Engineering & Construction Class E	49,407	584
	Hanmi Semiconductor Co. Ltd.	49,076	583
^*	LegoChem Biosciences Inc.	17,136	575
¹	IS Dongseo Co. Ltd.	13,625	573
¹	Hanmi Science Co. Ltd.	14,083	568
	SK Networks Co. Ltd.	147,072	561
	Kolmar Korea Co. Ltd.	15,152	560
	Innox Advanced Materials Co. Ltd.	14,365	556
^*	Asiana Airlines Inc.	35,035	554
^*,1	Helixmith Co. Ltd.	33,430	554
^*	Hanall Biopharma Co. Ltd.	37,629	543
^*,1	Taihan Electric Wire Co. Ltd.	379,393	540
^*	NHN Corp.	19,507	538
¹	BH Co. Ltd.	24,962	530
^*,1	Oscotec Inc.	24,792	529
¹	Cosmax Inc.	7,847	528
	NICE Information Service Co. Ltd.	36,118	525
^*	Pharmicell Co. Ltd.	58,735	525
¹	PI Advanced Materials Co. Ltd.	13,926	525
¹	Daewoong Co. Ltd.	21,632	513
¹	Ahnlab Inc.	6,219	510
^*,1	ABLBio Inc.	25,777	510
	Hyundai Autoever Corp.	4,871	510

		Shares	Market Value• ($000)
	Sebang Global Battery Co. Ltd.	8,476	506
^*	Bioneer Corp.	21,115	506
^*	Eubiologics Co. Ltd.	33,263	498
^*	Creative & Innovative System	47,617	497
	Lotte Chilsung Beverage Co. Ltd.	3,461	496
^*	Medytox Inc.	4,568	490
¹	Tokai Carbon Korea Co. Ltd.	4,410	490
^*	Sam Chun Dang Pharm Co. Ltd.	13,756	486
¹	Zinus Inc.	9,483	483
^*	Kumho Tire Co. Inc.	140,716	478
^*	NKMax Co. Ltd.	29,071	478
¹	Ottogi Corp.	1,285	477
¹	Poongsan Corp.	18,952	477
	Innocean Worldwide Inc.	12,369	477
	Daishin Securities Co. Ltd.	34,144	475
¹	YG Entertainment Inc.	10,657	473
^*	HJ Shipbuilding & Construction Co. Ltd.	75,504	471
	JR Global REIT	100,401	470
	KCC Glass Corp.	9,590	467
^*	TY Holdings Co. Ltd.	23,269	466
¹	Eugene Technology Co. Ltd.	13,794	464
	Taekwang Industrial Co. Ltd.	565	454
^*	GC Cell Corp.	8,626	452
^*,1	CJ CGV Co. Ltd.	20,767	449
	Ecopro HN Co. Ltd.	11,479	447
^*,1	Amicogen Inc.	17,718	444
^*	Hana Micron Inc.	31,814	444
	Samsung Fire & Marine Insurance Co. Ltd. Preference Shares	3,435	442
^*,1	NEPES Corp.	18,577	442
	DongKook Pharmaceutical Co. Ltd.	24,831	441
	Hanwha Investment & Securities Co. Ltd.	117,242	440
	PharmaResearch Co. Ltd.	5,995	438
	Park Systems Corp.	4,897	435
	Mcnex Co. Ltd.	12,363	432
^*	Vidente Co. Ltd.	39,386	430
¹	Doosan Co. Ltd.	6,092	427
	Daou Technology Inc.	26,008	425
^*	GemVax & Kael Co. Ltd.	36,540	424
^*,1	Studio Dragon Corp.	6,387	419
¹	Osstem Implant Co. Ltd.	4,662	418
^*	Eoflow Co. Ltd.	23,132	412
	Lutronic Corp.	19,813	411
^*	Duk San Neolux Co. Ltd.	12,436	408
	HK inno N Corp.	12,822	408
^*,1	SFA Semicon Co. Ltd.	79,370	407
	GOLFZON Co. Ltd.	3,185	407
^*	Hyosung Chemical Corp.	2,300	406
	Harim Holdings Co. Ltd.	47,103	406
	Samyang Holdings Corp.	5,919	405
¹	Hyundai Greenfood Co. Ltd.	55,838	403
¹	Seoul Semiconductor Co. Ltd.	37,584	400

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Korea Electric Terminal Co. Ltd.	7,203	397
	Partron Co. Ltd.	43,174	397
¹	Tesna Inc.	10,627	397
	Handsome Co. Ltd.	14,103	393
¹	DoubleUGames Co. Ltd.	10,014	391
^*	BNC Korea Co. Ltd.	46,551	391
	Intellian Technologies Inc.	6,374	391
^*	Danal Co. Ltd.	51,829	386
^*,1	Lotte Tour Development Co. Ltd.	29,908	385
	Hanjin Transportation Co. Ltd.	14,714	383
¹	Daesang Corp.	19,102	382
	L&C Bio Co. Ltd.	12,180	382
^*	Hyundai Electric & Energy System Co. Ltd.	22,305	381
^*	iNtRON Biotechnology Inc.	26,933	381
^*	NHN KCP Corp.	23,149	381
	Hyundai Construction Equipment Co. Ltd.	12,980	379
¹	RFHIC Corp.	16,829	377
^*	Myoung Shin Industrial Co. Ltd.	21,174	373
¹	Huchems Fine Chemical Corp.	21,008	369
¹	S&S Tech Corp.	16,782	365
^*	Vaxcell-Bio Therapeutics Co. Ltd.	10,142	358
	Dentium Co. Ltd.	6,700	357
^*	UniTest Inc.	17,836	357
	Boryung Pharmaceutical Co. Ltd.	34,542	355
	Korea Petrochemical Ind Co. Ltd.	2,990	354
	INTOPS Co. Ltd.	11,987	354
^*,1	Cellivery Therapeutics Inc.	12,766	351
¹	Bukwang Pharmaceutical Co. Ltd.	37,601	350
¹	Hansae Co. Ltd.	16,903	346
^*,1	Yungjin Pharmaceutical Co. Ltd.	88,743	345
¹	SK Discovery Co. Ltd.	10,400	341
	JW Pharmaceutical Corp.	13,916	337
	Daishin Securities Co. Ltd. Preference Shares	27,511	333
	Sangsangin Co. Ltd.	37,058	333
	SL Corp.	15,750	331
^*	Com2uS Holdings Corp.	4,974	328
	Songwon Industrial Co. Ltd.	15,319	325
	Samwha Capacitor Co. Ltd.	7,443	321
^*,1	MedPacto Inc.	12,799	320
	Humasis Co. Ltd.	33,013	320
^*	LX Holdings Corp.	39,991	314
^*,1	Ananti Inc.	45,311	312
	Hankook & Co. Co. Ltd.	27,192	311
^*	Korea Line Corp.	147,340	310
	Seojin System Co. Ltd.	19,950	304
^*	Webzen Inc.	17,380	303

		Shares	Market Value• ($000)
^*	DIO Corp.	11,232	302
	Dong-A Socio Holdings Co. Ltd.	3,353	301
¹	TES Co. Ltd.	13,707	300
	Korea Real Estate Investment & Trust Co. Ltd.	171,141	298
^*	Hyosung Heavy Industries Corp.	6,761	295
	Hanil Cement Co. Ltd.	18,049	292
	Shinsegae International Inc.	11,735	291
	LF Corp.	18,540	287
¹	KH Vatec Co. Ltd.	18,069	286
^*	Hanwha General Insurance Co. Ltd.	76,569	286
	Young Poong Corp.	523	282
	Dongwon Industries Co. Ltd.	1,422	280
^*	Binex Co. Ltd.	22,811	278
	SNT Motiv Co. Ltd.	7,343	276
^*,1	Insun ENT Co. Ltd.	31,364	275
	NICE Holdings Co. Ltd.	19,655	266
^*,1	Ace Technologies Corp.	32,795	266
^*	CMG Pharmaceutical Co. Ltd.	103,659	264
^*	Hancom Inc.	16,467	264
	Orion Holdings Corp.	22,426	262
^*	Medipost Co. Ltd.	14,608	262
¹	Advanced Process Systems Corp.	13,743	261
	LX Hausys Ltd.	5,605	259
^*	Shinsung E&G Co. Ltd.	173,262	258
¹	Seobu T&D	30,490	257
	SK Securities Co. Ltd.	373,367	254
	Samchully Co. Ltd.	2,803	253
^*	Next Science Co. Ltd.	40,900	251
^*	Komipharm International Co. Ltd.	35,613	250
	Halla Holdings Corp.	7,534	250
	Ilyang Pharmaceutical Co. Ltd.	12,745	249
¹	Posco ICT Co. Ltd.	51,039	248
^*,1	Mezzion Pharma Co. Ltd.	15,702	248
	Hyundai Home Shopping Network Corp.	5,188	247
¹	ENF Technology Co. Ltd.	8,969	247
^*	Giantstep Inc.	10,609	246
	InBody Co. Ltd.	10,671	245
	Dong-A ST Co. Ltd.	4,366	242
	Yuanta Securities Korea Co. Ltd.	85,453	241
	Youngone Holdings Co. Ltd.	5,879	239
^*	Modetour Network Inc.	13,449	238
	Youlchon Chemical Co. Ltd.	13,284	237
^*,1	CrystalGenomics Inc.	58,847	237
	Mirae Asset Life Insurance Co. Ltd.	75,034	237
	Nature Holdings Co. Ltd.	8,639	234
	Tongyang Inc.	187,196	232
^*	Solid Inc.	44,222	230
	HS Industries Co. Ltd.	48,529	229
	Vieworks Co. Ltd.	7,236	228
^*	Inscobee Inc.	103,073	227
	Binggrae Co. Ltd.	5,135	224

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	KISWIRE Ltd.	10,178	224
	LOTTE Himart Co. Ltd.	12,014	223
^*	Sambu Engineering & Construction Co. Ltd.	105,582	221
	SK Gas Ltd.	2,328	220
	KUMHOE&C Co. Ltd.	26,926	220
	Korea United Pharm Inc.	9,469	220
	HDC Holdings Co. Ltd.	38,508	219
	Huons Co. Ltd.	6,404	218
	i-SENS Inc.	9,358	214
^*	Neowiz	12,785	209
^*,1	Kuk-il Paper Manufacturing Co. Ltd.	80,060	209
	Samsung SDI Co. Ltd. Preference Shares	881	209
	Namhae Chemical Corp.	18,726	208
^*,1	Daea TI Co. Ltd.	60,116	208
	Hyundai Bioland Co. Ltd.	14,601	208
^*,1	Grand Korea Leisure Co. Ltd.	16,802	204
	Hansol Paper Co. Ltd.	17,457	202
^1,3	Gradiant Corp.	54,673	193
^*	OliX Pharmaceuticals Inc.	10,430	192
¹	ITM Semiconductor Co. Ltd.	6,778	189
	Tongyang Life Insurance Co. Ltd.	34,530	184
	iMarketKorea Inc.	21,771	184
^*	KH Feelux Co. Ltd.	102,348	182
	Nexen Tire Corp.	33,001	179
^*	Samsung Pharmaceutical Co. Ltd.	56,690	178
	OptoElectronics Solutions Co. Ltd.	7,791	175
^*	Namsun Aluminum Co. Ltd.	73,435	175
	Taeyoung Engineering & Construction Co. Ltd.	22,118	173
	Maeil Dairies Co. Ltd.	3,138	172
	Sungwoo Hitech Co. Ltd.	44,102	171
	KTB Investment & Securities Co. Ltd.	46,244	171
	Eugene Investment & Securities Co. Ltd.	64,747	167
	Kwang Dong Pharmaceutical Co. Ltd.	28,923	166
¹	Cuckoo Homesys Co. Ltd.	5,915	164
	Chongkundang Holdings Corp.	2,972	163
	Seah Besteel Corp.	11,393	163
	Namyang Dairy Products Co. Ltd.	504	162
	SPC Samlip Co. Ltd.	2,283	162
^*,1	Cafe24 Corp.	10,798	160
^*	Enzychem Lifesciences Corp.	9,163	160
^*,3	S-MAC Co. Ltd.	59,798	160
	KC Tech Co. Ltd.	9,680	159
	Dongwon F&B Co. Ltd.	1,109	156
	KISCO Corp.	21,795	156
	Dae Han Flour Mills Co. Ltd.	1,098	155
	CJ Freshway Corp.	4,781	155

		Shares	Market Value• ($000)
	Samyang Corp.	3,573	155
	CJ CheilJedang Corp. Preference Shares	1,096	154
	Jeil Pharmaceutical Co. Ltd.	7,294	153
^*	HLB Therapeutics Co. Ltd.	22,746	152
	Korea Asset In Trust Co. Ltd.	48,193	149
^*	Interflex Co. Ltd.	11,070	146
^*	AbClon Inc.	11,854	145
	KC Co. Ltd.	8,089	142
^*	Hansol Technics Co. Ltd.	26,180	142
	Kolon Corp.	6,437	141
	Sung Kwang Bend Co. Ltd.	18,185	139
¹	Woongjin Thinkbig Co. Ltd.	59,387	138
	Lotte Confectionery Co. Ltd.	1,403	138
^*	Cellid Co. Ltd.	7,185	136
^*	Wonik Holdings Co. Ltd.	34,924	135
	Daeduck Co. Ltd.	21,369	133
^*	STCUBE	30,471	131
	E1 Corp.	3,252	129
^*	Aprogen pharmaceuticals Inc.	199,372	128
	KT Skylife Co. Ltd.	17,601	128
	ICD Co. Ltd.	14,626	127
	LG HelloVision Co. Ltd.	25,075	127
	DB Financial Investment Co. Ltd.	24,552	126
^*	Lock&Lock Co. Ltd.	15,263	126
	Eusu Holdings Co. Ltd.	25,616	124
^*	Eyegene Inc.	18,918	124
	Byucksan Corp.	39,891	123
^*,1,3	SillaJen Inc.	48,243	123
	Huons Global Co. Ltd.	5,419	121
	Hyundai Corp.	8,066	119
^*	Peptron Inc.	15,974	119
	Hankook Shell Oil Co. Ltd.	577	116
^*	Toptec Co. Ltd.	17,206	116
	Kyobo Securities Co. Ltd.	18,545	115
	Hansol Holdings Co. Ltd.	40,157	113
^*	Dongsung Pharmaceutical Co. Ltd.	17,023	113
	Sindoh Co. Ltd.	4,224	110
	BGF Co. Ltd.	24,184	109
	TK Corp.	12,480	106
	Kolmar Korea Holdings Co. Ltd.	5,952	106
^*,1	Telcon RF Pharmaceutical Inc.	65,678	106
	Soulbrain Holdings Co. Ltd.	4,749	106
^*	Eutilex Co. Ltd.	9,539	106
^*	Able C&C Co. Ltd.	17,353	105
^*	Anterogen Co. Ltd.	5,519	105
	Hanil Holdings Co. Ltd.	9,726	103
	Muhak Co. Ltd.	13,199	98
	Sam Young Electronics Co. Ltd.	11,203	95
^*	CUROCOM Co. Ltd.	103,893	94
	Humedix Co. Ltd.	5,513	92

Pacific Stock Index Fund

		Shares	Market Value• ($000)
	Hyundai Livart Furniture Co. Ltd.	7,935	92
	Lotte Food Co. Ltd.	327	89
	SNT Dynamics Co. Ltd.	12,792	89
	Aekyung Industrial Co. Ltd.	5,626	88
	Cuckoo Holdings Co. Ltd.	5,760	85
^*	SCM Lifescience Co. Ltd.	9,630	82
	Hyundai Engineering & Construction Co. Ltd. Preference Shares	1,249	73
	LG Chem Ltd. Preference Shares	354	70
	Dae Hwa Pharmaceutical Co. Ltd.	10,363	68
^*	Homecast Co. Ltd.	27,476	67
	F&F Holdings Co. Ltd.	3,178	65
^*,3	Y2 Solution Co. Ltd.	48,272	47
	Daekyo Co. Ltd.	13,375	43
^*	Solus Advanced Materials Rights Exp. 5/10/22	1,761	32
	Cell Biotech Co. Ltd.	1,948	25
^*	Coreana Cosmetics Co. Ltd.	5,685	21
	AK Holdings Inc.	1,202	20
^*	Stcube Inc. Rights Exp. 5/20/22	11,001	4
			1,054,488
Total Common Stocks (Cost $8,408,693)			7,838,398
Temporary Cash Investments (1.2%)
Money Market Fund (1.2%)
^4,5	Vanguard Market Liquidity Fund, 0.409% (Cost $91,559)	915,713	91,562
Total Investments (100.2%) (Cost $8,500,252)			7,929,960
Other Assets and Liabilities—Net (-0.2%)			(12,052)
Net Assets (100%)			7,917,908
Cost is in $000.

•	See Note A in Notes to Financial Statements.
*	Non-income-producing security.
1	Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $75,801,000.
2	Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At April 30, 2022, the aggregate value was $42,569,000, representing 0.5% of net assets.
3	Security value determined using significant unobservable inputs.
4	Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
5	Collateral of $80,226,000 was received for securities on loan, of which $80,170,000 is held in Vanguard Market Liquidity Fund and $56,000 is held in cash.

GDR—Global Depositary Receipt.
REIT—Real Estate Investment Trust.

Pacific Stock Index Fund

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
			($000)
	Expiration	Number of Long (Short) Contracts	Notional Amount	Value and Unrealized Appreciation (Depreciation)
Long Futures Contracts
KOSPI 200 Index	June 2022	180	12,741	3
S&P ASX 200 Index	June 2022	168	21,986	462
Topix Index	June 2022	293	42,965	620
				1,085

Forward Currency Contracts
	Contract Settlement Date	Contract Amount (000)				Unrealized Appreciation ($000)	Unrealized Depreciation ($000)
Counterparty	Contract Settlement Date	Receive		Deliver		Unrealized Appreciation ($000)	Unrealized Depreciation ($000)
State Street Bank & Trust Co.	6/15/22	AUD	18,754	USD	14,088	—	(826)
Bank of America, N.A.	6/15/22	AUD	9,730	USD	6,947	—	(66)
HSBC Bank plc	6/15/22	JPY	3,788,001	USD	32,822	—	(3,585)
Barclays Bank plc	6/15/22	KRW	5,149,195	USD	4,078	22	—
State Street Bank & Trust Co.	6/15/22	USD	2,320	AUD	3,158	87	—
Royal Bank of Canada	6/15/22	USD	586	HKD	4,575	2	—
UBS AG	6/15/22	USD	27,754	JPY	3,418,802	1,366	—
Deutsche Bank AG	6/15/22	USD	9,464	JPY	1,152,685	567	—
State Street Bank & Trust Co.	6/15/22	USD	1,698	KRW	2,096,101	28	—
						2,072	(4,477)

AUD—Australian dollar.

HKD—Hong Kong dollar.

JPY—Japanese yen.

KRW—Korean won.

USD—U.S. dollar.

At April 30, 2022, the counterparties had deposited in segregated accounts securities with a value of $1,631,000 in connection with open forward currency contracts.

See accompanying Notes, which are an integral part of the Financial Statements.

Pacific Stock Index Fund

Statement of Assets and Liabilities

As of April 30, 2022


($000s, except shares and per-share amounts)	Amount
Assets
Investments in Securities, at Value¹
Unaffiliated Issuers (Cost $8,408,693)	7,838,398
Affiliated Issuers (Cost $91,559)	91,562
Total Investments in Securities	7,929,960
Investment in Vanguard	287
Cash	56
Cash Collateral Pledged—Futures Contracts	4,718
Cash Collateral Pledged—Forward Currency Contracts	4,440
Foreign Currency, at Value (Cost $4,423)	4,420
Receivables for Investment Securities Sold	6,656
Receivables for Accrued Income	51,989
Receivables for Capital Shares Issued	410
Variation Margin Receivable—Futures Contracts	1,400
Unrealized Appreciation—Forward Currency Contracts	2,072
Other Assets	1,844
Total Assets	8,008,252
Liabilities
Due to Custodian	272
Payables for Investment Securities Purchased	3,639
Collateral for Securities on Loan	80,226
Payables for Capital Shares Redeemed	1,444
Payables to Vanguard	286
Unrealized Depreciation—Forward Currency Contracts	4,477
Total Liabilities	90,344
Net Assets	7,917,908
1 Includes $75,801 of securities on loan.

Pacific Stock Index Fund

Statement of Assets and Liabilities (continued)
At April 30, 2022, net assets consisted of:
($000s, except shares and per-share amounts)	Amount
Paid-in Capital	8,805,708
Total Distributable Earnings (Loss)	(887,800)
Net Assets	7,917,908

Investor Shares—Net Assets
Applicable to 759,261 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	9,963
Net Asset Value Per Share—Investor Shares	$13.12

ETF Shares—Net Assets
Applicable to 74,599,780 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	5,134,997
Net Asset Value Per Share—ETF Shares	$68.83

Admiral Shares—Net Assets
Applicable to 28,733,892 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	2,446,830
Net Asset Value Per Share—Admiral Shares	$85.15

Institutional Shares—Net Assets
Applicable to 25,030,400 outstanding $.001 par value shares of beneficial interest (unlimited authorization)	326,118
Net Asset Value Per Share—Institutional Shares	$13.03

See accompanying Notes, which are an integral part of the Financial Statements.

Pacific Stock Index Fund

Statement of Operations


	Six Months Ended April 30, 2022
	($000)
Investment Income
Income
Dividends¹	122,752
Interest²	12
Securities Lending—Net	1,419
Total Income	124,183
Expenses
The Vanguard Group—Note B
Investment Advisory Services	462
Management and Administrative—Investor Shares	9
Management and Administrative—ETF Shares	1,554
Management and Administrative—Admiral Shares	1,027
Management and Administrative—Institutional Shares	92
Marketing and Distribution—Investor Shares	—
Marketing and Distribution—ETF Shares	70
Marketing and Distribution—Admiral Shares	55
Marketing and Distribution—Institutional Shares	7
Custodian Fees	295
Shareholders’ Reports—Investor Shares	2
Shareholders’ Reports—ETF Shares	99
Shareholders’ Reports—Admiral Shares	17
Shareholders’ Reports—Institutional Shares	18
Trustees’ Fees and Expenses	2
Other Expenses	17
Total Expenses	3,726
Net Investment Income	120,457
Realized Net Gain (Loss)
Investment Securities Sold^2,3	(48,188)
Futures Contracts	(6,056)
Forward Currency Contracts	(1,496)
Foreign Currencies	(802)
Realized Net Gain (Loss)	(56,542)

Pacific Stock Index Fund

Statement of Operations (continued)
	Six Months Ended April 30, 2022
	($000)
Change in Unrealized Appreciation (Depreciation)
Investment Securities²	(1,275,643)
Futures Contracts	2,713
Forward Currency Contracts	(1,773)
Foreign Currencies	(2,728)
Change in Unrealized Appreciation (Depreciation)	(1,277,431)
Net Increase (Decrease) in Net Assets Resulting from Operations	(1,213,516)

1	Dividends are net of foreign withholding taxes of $10,297,000.
2	Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $12,000, ($28,000), $1,000, and $3,000, respectively. Purchases and sales are for temporary cash investment purposes.
3	Includes $57,719,000 of net gain (loss) resulting from in-kind redemptions.

See accompanying Notes, which are an integral part of the Financial Statements.

Pacific Stock Index Fund

Statement of Changes in Net Assets


	Six Months Ended April 30, 2022	Year Ended October 31, 2021
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	120,457	204,877
Realized Net Gain (Loss)	(56,542)	(9,452)
Change in Unrealized Appreciation (Depreciation)	(1,277,431)	1,283,609
Net Increase (Decrease) in Net Assets Resulting from Operations	(1,213,516)	1,479,034
Distributions
Investor Shares	(218)	(265)
ETF Shares	(110,855)	(116,979)
Admiral Shares	(53,119)	(65,199)
Institutional Shares	(7,533)	(10,274)
Total Distributions	(171,725)	(192,717)
Capital Share Transactions
Investor Shares	(298)	241
ETF Shares	571,329	1,097,611
Admiral Shares	36,904	89,575
Institutional Shares	(28,972)	(68,312)
Net Increase (Decrease) from Capital Share Transactions	578,963	1,119,115
Total Increase (Decrease)	(806,278)	2,405,432
Net Assets
Beginning of Period	8,724,186	6,318,754
End of Period	7,917,908	8,724,186

See accompanying Notes, which are an integral part of the Financial Statements.

Pacific Stock Index Fund

Financial Highlights

Investor Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$15.40	$12.79	$13.01	$12.24	$13.56	$11.42
Investment Operations
Net Investment Income¹	.188	.349	.283	.309	.347	.295
Net Realized and Unrealized Gain (Loss) on Investments	(2.189)	2.600	(.209)	.801	(1.336)	2.141
Total from Investment Operations	(2.001)	2.949	.074	1.110	(.989)	2.436
Distributions
Dividends from Net Investment Income	(.279)	(.339)	(.294)	(.340)	(.331)	(.296)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.279)	(.339)	(.294)	(.340)	(.331)	(.296)
Net Asset Value, End of Period	$13.12	$15.40	$12.79	$13.01	$12.24	$13.56
Total Return²	-13.20%	23.09%	0.52%	9.39%	-7.53%	21.71%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$10	$12	$10	$11	$225	$296
Ratio of Total Expenses to Average Net Assets	0.23%	0.23%	0.23%	0.23%	0.23%	0.26%
Ratio of Net Investment Income to Average Net Assets	2.58%	2.25%	2.28%	2.50%	2.51%	2.44%
Portfolio Turnover Rate³	3%	5%	4%	4%	4%	3%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Pacific Stock Index Fund

Financial Highlights

FTSE Pacific ETF Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$80.80	$67.11	$68.25	$64.24	$71.13	$59.92
Investment Operations
Net Investment Income¹	1.055	1.993	1.577	1.823	1.895	1.677
Net Realized and Unrealized Gain (Loss) on Investments	(11.502)	13.594	(1.091)	4.071	(6.940)	11.195
Total from Investment Operations	(10.447)	15.587	.486	5.894	(5.045)	12.872
Distributions
Dividends from Net Investment Income	(1.523)	(1.897)	(1.626)	(1.884)	(1.845)	(1.662)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(1.523)	(1.897)	(1.626)	(1.884)	(1.845)	(1.662)
Net Asset Value, End of Period	$68.83	$80.80	$67.11	$68.25	$64.24	$71.13
Total Return	-13.12%	23.27%	0.68%	9.53%	-7.34%	21.89%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$5,135	$5,463	$3,630	$3,708	$3,927	$5,015
Ratio of Total Expenses to Average Net Assets	0.08%	0.08%	0.08%	0.08%	0.09%	0.10%
Ratio of Net Investment Income to Average Net Assets	2.77%	2.45%	2.42%	2.80%	2.65%	2.60%
Portfolio Turnover Rate²	3%	5%	4%	4%	4%	3%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Pacific Stock Index Fund

Financial Highlights

Admiral Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$99.94	$83.00	$84.41	$79.43	$87.97	$74.10
Investment Operations
Net Investment Income¹	1.293	2.399	1.938	2.251	2.360	2.049
Net Realized and Unrealized Gain (Loss) on Investments	(14.210)	16.866	(1.354)	5.031	(8.618)	13.876
Total from Investment Operations	(12.917)	19.265	.584	7.282	(6.258)	15.925
Distributions
Dividends from Net Investment Income	(1.873)	(2.325)	(1.994)	(2.302)	(2.282)	(2.055)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(1.873)	(2.325)	(1.994)	(2.302)	(2.282)	(2.055)
Net Asset Value, End of Period	$85.15	$99.94	$83.00	$84.41	$79.43	$87.97
Total Return²	-13.13%	23.25%	0.66%	9.50%	-7.36%	21.90%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$2,447	$2,834	$2,279	$2,493	$2,202	$2,388
Ratio of Total Expenses to Average Net Assets	0.10%	0.10%	0.10%	0.10%	0.10%	0.10%
Ratio of Net Investment Income to Average Net Assets	2.74%	2.39%	2.40%	2.80%	2.64%	2.60%
Portfolio Turnover Rate³	3%	5%	4%	4%	4%	3%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees.
3	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Pacific Stock Index Fund

Financial Highlights

Institutional Shares
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	Year Ended October 31,
For a Share Outstanding Throughout Each Period	Six Months Ended April 30, 2022	2021	2020	2019	2018	2017
Net Asset Value, Beginning of Period	$15.29	$12.70	$12.91	$12.15	$13.46	$11.34
Investment Operations
Net Investment Income¹	.197	.366	.296	.346	.364	.320
Net Realized and Unrealized Gain (Loss) on Investments	(2.169)	2.582	(.199)	.770	(1.323)	2.118
Total from Investment Operations	(1.972)	2.948	.097	1.116	(.959)	2.438
Distributions
Dividends from Net Investment Income	(.288)	(.358)	(.307)	(.356)	(.351)	(.318)
Distributions from Realized Capital Gains	—	—	—	—	—	—
Total Distributions	(.288)	(.358)	(.307)	(.356)	(.351)	(.318)
Net Asset Value, End of Period	$13.03	$15.29	$12.70	$12.91	$12.15	$13.46
Total Return	-13.11%	23.25%	0.72%	9.51%	-7.37%	21.91%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$326	$416	$400	$508	$443	$408
Ratio of Total Expenses to Average Net Assets	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%
Ratio of Net Investment Income to Average Net Assets	2.72%	2.39%	2.40%	2.81%	2.66%	2.62%
Portfolio Turnover Rate²	3%	5%	4%	4%	4%	3%
The expense ratio and net investment income ratio for the current period have been annualized.

1	Calculated based on average shares outstanding.
2	Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.

Pacific Stock Index Fund

Notes to Financial Statements

Vanguard Pacific Stock Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers four classes of shares: Investor Shares, ETF Shares, Admiral Shares, and Institutional Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors. ETF Shares, known as Vanguard FTSE Pacific ETF Shares, are listed for trading on NYSE Arca; they can be purchased and sold through a broker.

Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance.

A.	The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

Pacific Stock Index Fund

During the six months ended April 30, 2022, the fund’s average investment in forward currency contracts represented 1% of net assets, based on the average of the notional amounts at each quarter-end during the period.

8. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.4 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple

Pacific Stock Index Fund

Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

For the six months ended April 30, 2022, the fund did not utilize the credit facilities or the Interfund Lending Program.

9. Other: Dividend income is recorded on the ex-dividend date. Non-cash dividends included in income, if any, are recorded at the fair value of the securities received. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At April 30, 2022, the fund had contributed to Vanguard capital in the amount of $287,000, representing less than 0.01% of the fund’s net assets and 0.11% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Pacific Stock Index Fund

The following table summarizes the market value of the fund’s investments and derivatives as of April 30, 2022, based on the inputs used to value them:

	Level 1 ($000)	Level 2 ($000)	Level 3 ($000)	Total ($000)
Investments
Assets
Common Stocks	—	7,830,705	7,693	7,838,398
Temporary Cash Investments	91,562	—	—	91,562
Total	91,562	7,830,705	7,693	7,929,960
Derivative Financial Instruments
Assets
Futures Contracts¹	1,085	—	—	1,085
Forward Currency Contracts	—	2,072	—	2,072
Total	1,085	2,072	—	3,157
Liabilities
Forward Currency Contracts	—	4,477	—	4,477

1	Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.

D.	At April 30, 2022, the fair values of derivatives were reflected in the Statement of Assets and Liabilities as follows:

Statement of Assets and Liabilities	Equity Contracts ($000)	Foreign Exchange Contracts ($000)	Total ($000)
Unrealized Appreciation—Futures Contracts¹	1,085	—	1,085
Unrealized Appreciation—Forward Currency Contracts	—	2,072	2,072
Total Assets	1,085	2,072	3,157

Unrealized Depreciation—Forward Currency Contracts	—	4,477	4,477
Total Liabilities	—	4,477	4,477

1	Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.

Realized net gain (loss) and the change in unrealized appreciation (depreciation) on derivatives for the six months ended April 30, 2022, were:

Realized Net Gain (Loss) on Derivatives	Equity Contracts ($000)	Foreign Exchange Contracts ($000)	Total ($000)
Futures Contracts	(6,056)	—	(6,056)

Pacific Stock Index Fund

	Equity Contracts ($000)	Foreign Exchange Contracts ($000)	Total ($000)
Forward Currency Contracts	—	(1,496)	(1,496)
Realized Net Gain (Loss) on Derivatives	(6,056)	(1,496)	(7,552)
Change in Unrealized Appreciation (Depreciation) on Derivatives
Futures Contracts	2,713	—	2,713
Forward Currency Contracts	—	(1,773)	(1,773)
Change in Unrealized Appreciation (Depreciation) on Derivatives	2,713	(1,773)	940

E.	As of April 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

	Amount ($000)
Tax Cost	8,608,628
Gross Unrealized Appreciation	1,144,800
Gross Unrealized Depreciation	(1,824,788)
Net Unrealized Appreciation (Depreciation)	(679,988)

The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at October 31, 2021, the fund had available capital losses totaling $242,473,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending October 31, 2022; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

F.	During the six months ended April 30, 2022, the fund purchased $949,266,000 of investment securities and sold $458,398,000 of investment securities, other than temporary cash investments. Purchases and sales include $541,068,000 and $160,870,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares.
G.	Capital share transactions for each class of shares were:

	Six Months Ended April 30, 2022		Year Ended October 31, 2021
	Amount ($000)	Shares (000)	Amount ($000)	Shares (000)
Investor Shares
Issued	604	40	2,019	131
Issued in Lieu of Cash Distributions	218	15	265	17
Redeemed	(1,120)	(77)	(2,043)	(132)
Net Increase (Decrease)—Investor Shares	(298)	(22)	241	16

Pacific Stock Index Fund

	Six Months Ended April 30, 2022		Year Ended October 31, 2021
	Amount ($000)	Shares (000)	Amount ($000)	Shares (000)
ETF Shares
Issued	756,833	9,593	1,267,655	15,614
Issued in Lieu of Cash Distributions	—	—	—	—
Redeemed	(185,504)	(2,600)	(170,044)	(2,100)
Net Increase (Decrease)—ETF Shares	571,329	6,993	1,097,611	13,514
Admiral Shares
Issued	143,200	1,525	354,619	3,543
Issued in Lieu of Cash Distributions	42,851	447	52,662	529
Redeemed	(149,147)	(1,592)	(317,706)	(3,175)
Net Increase (Decrease)—Admiral Shares	36,904	380	89,575	897
Institutional Shares
Issued	23,469	1,650	70,526	4,592
Issued in Lieu of Cash Distributions	5,861	399	8,184	539
Redeemed	(58,302)	(4,198)	(147,022)	(9,454)
Net Increase (Decrease)—Institutional Shares	(28,972)	(2,149)	(68,312)	(4,323)

H.	Management has determined that no events or transactions occurred subsequent to April 30, 2022, that would require recognition or disclosure in these financial statements.

Trustees Approve Advisory Arrangements

The board of trustees of Vanguard European Stock Index Fund and Vanguard Pacific Stock Index Fund has renewed each fund’s investment advisory arrangement with The Vanguard Group, Inc. (Vanguard), through its Equity Index Group. The board determined that continuing each fund’s internalized management structure was in the best interests of the fund and its shareholders.

The board based its decisions upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The Portfolio Review Department met regularly with the advisor and made monthly presentations to the board during the fiscal year that directed the board’s focus to relevant information and topics.

The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.

In addition, the board received periodic reports throughout the year, which included information about each fund’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Portfolio Review Department’s ongoing assessment of the advisor.

Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board’s decisions.

Nature, extent, and quality of services

The board reviewed the quality of the funds’ investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than four decades. The Equity Index Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.

The board concluded that Vanguard’s experience, stability, depth, and performance, among other factors, warranted continuation of the advisory arrangements.

Investment performance

The board considered the short- and long-term performance of each fund, including any periods of outperformance or underperformance compared with its target index and peer group. The board concluded that the performance was such that the advisory arrangements should continue.

Cost

The board concluded that each fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that each fund’s advisory expenses were also below the peer-group average.

The board does not conduct a profitability analysis of Vanguard because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.

The benefit of economies of scale

The board concluded that the funds’ arrangements with Vanguard ensure that the funds will realize economies of scale as they grow, with the cost to shareholders declining as fund assets increase.

The board will consider whether to renew the advisory arrangements again after a one-year period.

Liquidity Risk Management

Vanguard funds (except for the money market funds) have adopted and implemented a written liquidity risk management program (the “Program”) as required by Rule 22e-4 under the Investment Company Act of 1940. Rule 22e-4 requires that each fund adopt a program that is reasonably designed to assess and manage the fund’s liquidity risk, which is the risk that the fund could not meet redemption requests without significant dilution of remaining investors’ interests in the fund.

Assessment and management of a fund’s liquidity risk under the Program take into consideration certain factors, such as the fund’s investment strategy and the liquidity of its portfolio investments during normal and reasonably foreseeable stressed conditions, its short- and long-term cash-flow projections during both normal and reasonably foreseeable stressed conditions, and its cash and cash-equivalent holdings and access to other funding sources. As required by the rule, the Program includes policies and procedures for classification of fund portfolio holdings in four liquidity categories, maintaining certain levels of highly liquid investments, and limiting holdings of illiquid investments.

The board of trustees of Vanguard International Equity Index Funds approved the appointment of liquidity risk management program administrators responsible for administering the Program for Vanguard European Stock Index Fund, and Vanguard Pacific Stock Index Fund, and for carrying out the specific responsibilities set forth in the Program, including reporting to the board on at least an annual basis regarding the Program’s operation, its adequacy, and the effectiveness of its implementation for the past year (the “Program Administrator Report”). The board has reviewed the Program Administrator Report covering the period from January 1, 2021, through December 31, 2021 (the “Review Period”). The Program Administrator Report stated that during the Review Period the Program operated and was implemented effectively to manage the funds' liquidity risk.

London Stock Exchange Group companies include FTSE International Limited (“FTSE”), Frank Russell Company (“Russell”), MTS Next Limited (“MTS”), and FTSE TMX Global Debt Capital Markets Inc. (“FTSE TMX”). All rights reserved. “FTSE^®”, “Russell^®”, “MTS^®”, “FTSE TMX^®” and “FTSE Russell” and other service marks and trademarks related to the FTSE or Russell indexes are trademarks of the London Stock Exchange Group companies and are used by FTSE, MTS, FTSE TMX and Russell under license. All information is provided for information purposes only. Every effort is made to ensure that all information given in this publication is accurate, but no responsibility or liability can be accepted by the London Stock Exchange Group companies nor its licensors for any errors or for any loss from use of this publication. Neither the London Stock Exchange Group companies nor any of their licensors make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the Indices or the fitness or suitability of the Indices for any particular purpose to which they might be put. The London Stock Exchange Group companies do not provide investment advice and nothing in this document should be taken as constituting financial or investment advice. The London Stock Exchange Group companies make no representation regarding the advisability of investing in any asset. A decision to invest in any such asset should not be made in reliance on any information herein. Indexes cannot be invested in directly. Inclusion of an asset in an index is not a recommendation to buy, sell or hold that asset. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional. No part of this information may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the London Stock Exchange Group companies. Distribution of the London Stock Exchange Group companies’ index values and the use of their indexes to create financial products require a license with FTSE, FTSE TMX, MTS and/or Russell and/or its licensors.

This page intentionally left blank.

Connect with Vanguard^®>vanguard.com

Fund Information > 800-662-7447

Direct Investor Account Services > 800-662-2739

Institutional Investor Services > 800-523-1036

Text Telephone for People Who Are Deaf or Hard of Hearing > 800-749-7273

This material may be used in conjunction with the offering of shares of any Vanguard fund only if preceded or accompanied by the fund’s current prospectus.

You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.

You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to [email protected].

Q722 062022