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WisdomTree Trust

Annual Report

March 31, 2023

 

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

WisdomTree Europe SmallCap Dividend Fund (DFE)

WisdomTree International AI Enhanced Value Fund (AIVI)

WisdomTree International Equity Fund (DWM)

WisdomTree International High Dividend Fund (DTH)

WisdomTree International LargeCap Dividend Fund (DOL)

WisdomTree International MidCap Dividend Fund (DIM)

WisdomTree International Multifactor Fund (DWMF)

WisdomTree International Quality Dividend Growth Fund (IQDG)

WisdomTree International SmallCap Dividend Fund (DLS)

WisdomTree Japan SmallCap Dividend Fund (DFJ)


Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       3  

Management’s Discussion of Funds’ Performance (unaudited)

       4  

Description of Terms and Indexes (unaudited)

       15  
Schedules of Investments     

WisdomTree Europe Quality Dividend Growth Fund

       18  

WisdomTree Europe SmallCap Dividend Fund

       21  

WisdomTree International AI Enhanced Value Fund

       26  

WisdomTree International Equity Fund

       29  

WisdomTree International High Dividend Fund

       40  

WisdomTree International LargeCap Dividend Fund

       47  

WisdomTree International MidCap Dividend Fund

       51  

WisdomTree International Multifactor Fund

       58  

WisdomTree International Quality Dividend Growth Fund

       63  

WisdomTree International SmallCap Dividend Fund

       67  

WisdomTree Japan SmallCap Dividend Fund

       77  

Statements of Assets and Liabilities

       86  

Statements of Operations

       89  

Statements of Changes in Net Assets

       92  

Financial Highlights

       96  

Notes to Financial Statements

       102  

Report of Independent Registered Public Accounting Firm

       117  

Liquidity Risk Management Program (unaudited)

       119  

Trustees and Officers Information (unaudited)

       120  

Supplemental Information (unaudited)

       122  

General Information (unaudited)

       123  

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


Market Environment Overview

(unaudited)

 

Developed international equity markets, as measured by the MSCI EAFE Index, were roughly flat for the 12-month fiscal year ending March 31, 2023 (the “period”), returning only -1.38% in U.S. dollar (USD) terms despite significant volatility at certain points.

Developed market currencies steadily weakened versus the USD during the period, as an aggressive rate hike campaign by the Federal Reserve in the U.S. created a policy gap that bolstered the USD and weighed on others whose central banks were not keeping pace. The USD also likely benefited due to its perceived status as a global safe-haven currency during market turmoil. The euro steadily weakened against the USD during the period, weakening by about 2.06%. Although not in Europe, this effect was even more pronounced in the Japanese yen, which is being suppressed by the Bank of Japan in attempt to stimulate economic growth while the rest of the global economy is overheating. The yen weakened by more than 8% versus the USD, though it fell even further during the fall of 2022 before slightly bouncing back. The British pound sterling (GBP) also struggled, weakening by over 6% versus the USD. The lone currency that strengthened among the G10 basket of currencies was the Swiss franc, another beneficiary of safe-haven status during periods of market stress, which rose by about 0.8%.

Similar to the rest of the world, developed international equity markets embarked on a protracted battle against record inflation and strong labor markets for most of calender year 2022, after record monetary and fiscal stimulus to support the post-pandemic economic recovery. Risk-off sentiment from the U.S. Federal Reserve’s campaign to combat inflation migrated to developed markets, and the MSCI EAFE plummeted by 14.5% in USD terms. The European Central Bank (ECB) held its benchmark refinancing rate at 0% during the quarter, but investors quickly surmised that it would soon have to act swiftly and decisively to combat inflation climbing into the 7-8% range. For context, the ECB has held rates at 0% in effort to stimulate economic growth since about 2016, and has held year-over-year inflation under 2% since roughly 2013, so these developments marked a significant paradigm shift. As the largest component of the developed market universe, Eurozone GDP grew 0.7% during the quarter.

Inflation neared its peak during the June to September quarter, reaching 9.9% year-over-year and marking the beginning of what would become five straight months of inflation in the 9-10% range. This weighed on market sentiment, especially as the ECB started to combat it by raising rates 1.25% from 0%. The MSCI EAFE Index fell 9.36% in USD terms, following broader market sentiment around the world with regional indexes heading deeper toward bear market territory. Eurozone gross domestic product (GDP) growth was relatively muted during the quarter at 0.3%.

After two straight quarters of deep declines, the final quarter of 2022 provided some optimism. Europe began to see disinflationary pressures materialize as inflation rolled off its 10.6% high in October. With signs of the ECB’s rate hike effort working so far, this provided a welcome respite to developed market investors, and the MSCI EAFE Index returned 17.34% in USD terms. Eurozone GDP growth was flat during the quarter, slightly declining by 0.1%. Continuing its fight against inflation, the ECB hiked another 1.25% to bring its refinancing rate up to 2.5% by the end of 2022.

Optimism from the end of 2022 continued into the first quarter of 2023, the final quarter of the fiscal period. Disinflation continued in Europe, falling from 9.2% down to 6.9% through March, as the ECB slowed the pace of its rate hike campaign. During the quarter, it raised rates only 1% between two 50 basis point hikes to conclude the period at 3.5%. Rates have not been this high since late 2008 amid a policy rate easing campaign during the Global Financial Crisis. Markets began to believe the end of the fight against inflation was in sight, and the MSCI EAFE Index returned 8.47% in USD terms. The quarter finished on a resounding note, despite fears of a banking crisis originating in the U.S. spreading overseas. Credit Suisse faced major solvency issues but crisis was averted after regulators helped facilitate a sale to UBS to stabilize the banking system, which appeased markets and contributed to the strong finish.

 

WisdomTree Trust      1  


Market Environment Overview

(unaudited) (concluded)

 

Entering the new fiscal year, many of these risk factors remain paramount, and global financial market performance will be heavily dependent continued improvement in the global banking sector and economic data releases, due to their influence on the future path of monetary policy.

Each WisdomTree Fund’s performance as set forth in “Management’s Discussion of Funds’ Performance” in the pages that follow should also be viewed in light of the foregoing market environment.

 

2   WisdomTree Trust


Information about Performance and Shareholder Expense Examples (unaudited)

Performance

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

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

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

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

Shareholder Expense Examples

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

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2022 to March 31, 2023. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 182/365 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

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

Hypothetical example for comparison purposes

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

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

 

WisdomTree Trust      3  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    18.6%  

Consumer Staples

    18.1%  

Industrials

    17.4%  

Consumer Discretionary

    16.4%  

Financials

    8.5%  

Information Technology

    7.2%  

Communication Services

    6.0%  

Materials

    3.5%  

Utilities

    2.4%  

Energy

    0.7%  

Real Estate

    0.6%  

Other Assets less Liabilities‡

    0.6%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

LVMH Moet Hennessy Louis Vuitton SE

    6.0%  

Novartis AG, Registered Shares

    4.4%  

Nestle SA, Registered Shares

    3.6%  

Sanofi

    3.3%  

Deutsche Telekom AG, Registered Shares

    3.1%  

Industria de Diseno Textil SA

    2.9%  

British American Tobacco PLC

    2.9%  

GSK PLC

    2.8%  

Roche Holding AG

    2.8%  

Unilever PLC

    2.7%  
*

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

The WisdomTree Europe Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in the European equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -1.64% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Consumer Discretionary and Real Estate due to a mix of allocation and stock selection effects in each. Consumer Staples and Health Care dragged on performance as a result of poor stock selection impacts. Although high quality stocks benefited in the U.S. last year, the same result was not evident in Europe. When analyzing performance by return-on-equity quintiles, the results are mixed. Overweighting higher-quality companies was additive within certain quintiles and negative in others. The same can be said for underweighting lower-quality companies, where it was beneficial in certain groups and but detracted in other segments.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,294.10        0.59   $ 3.37  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.99        0.59   $ 2.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.34 and $2.95, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year     3 Year     5 Year     Since Inception1  

Fund NAV Returns

     -1.64     13.90     5.65     4.49

Fund Market Price Returns

     -1.02     14.39     5.55     4.45

WisdomTree Europe Quality Dividend Growth Index

     -1.28     14.48     6.17     5.00

MSCI Europe Index

     1.38     15.00     4.35     3.17
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on May 7, 2014.

 

LOGO

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

 

4   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Europe SmallCap Dividend Fund (DFE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    26.7%  

Consumer Discretionary

    14.8%  

Financials

    14.1%  

Materials

    13.8%  

Information Technology

    6.5%  

Real Estate

    6.2%  

Consumer Staples

    6.0%  

Energy

    4.1%  

Health Care

    2.9%  

Communication Services

    2.7%  

Utilities

    1.1%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    1.1%  

Total

    100.0%  

 

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

 

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

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

SSAB AB, Class A

    3.2%  

D/S Norden A/S

    1.9%  

Sydbank A/S

    1.3%  

Konecranes Oyj

    1.3%  

Redrow PLC

    1.2%  

MPC Container Ships ASA

    1.1%  

Pagegroup PLC

    1.1%  

Kloeckner & Co. SE

    1.1%  

Lenzing AG

    1.0%  

Outokumpu Oyj

    1.0%  
*

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

The WisdomTree Europe SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the European equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -8.50% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Communication Services and Materials, primarily due to stock selection effects. Industrials and Energy weighed on performance, again due to stock selection. Due to the Fund’s focus on allocating more to European small caps that pay greater dividends, there was a positive allocation effect from the top quintile of payers, since that group was overweighted and outperformed during the fiscal year. Avoiding non-payers ultimately had a negative impact on performance, as non-payers rallied toward the end of the fiscal year and the Fund was not able to benefit.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,294.60        0.66   $ 3.78  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.64        0.66   $ 3.33  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.34 and $2.94, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -8.50      16.79      0.54      7.08

Fund Market Price Returns

       -7.33      17.26      0.43      7.14

WisdomTree Europe SmallCap Dividend Index

       -8.80      17.16      0.86      7.68

MSCI Europe Small Cap Index

       -11.20      13.93      1.30      6.82

 

LOGO

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

 

WisdomTree Trust      5  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International AI Enhanced Value Fund (AIVI)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    23.9%  

Industrials

    12.4%  

Consumer Staples

    10.9%  

Materials

    10.4%  

Health Care

    8.6%  

Real Estate

    8.2%  

Utilities

    6.7%  

Communication Services

    5.1%  

Consumer Discretionary

    4.6%  

Energy

    3.9%  

Information Technology

    3.3%  

Investment Company

    0.5%  

Other Assets less Liabilities‡

    1.5%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

Koninklijke Philips NV

    3.5%  

Enagas SA

    3.2%  

HeidelbergCement AG

    3.2%  

Swiss Re AG

    2.9%  

Aviva PLC

    2.9%  

M&G PLC

    2.8%  

Henkel AG & Co. KGaA

    2.7%  

Phoenix Group Holdings PLC

    2.7%  

Holcim AG, Registered Shares

    2.6%  

Publicis Groupe SA

    2.5%  
*

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

The WisdomTree International AI Enhanced Value Fund (the “Fund”) seeks income and capital appreciation by investing primarily in equity securities selected from a universe of developed market equities, excluding the United States and Canada, that exhibit value characteristics based on the selection results of a proprietary, quantitative artificial intelligence (AI) model developed by Voya Investment Management Co., LLC., the Fund’s sub-adviser. Prior to January 18, 2022, Fund performance reflects the investment objective of the Fund when it was the WisdomTree International Dividend ex-Financials Fund and tracked the price and yield performance, before fees and expenses, of the WisdomTree International Dividend ex-Financials Index (the “Former Index”). In seeking to track the Former Index, the Fund invested in high-dividend-yielding companies in the developed world excluding the U.S. and Canada, and excluding the financials sector.

The Fund returned 0.80% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). As an AI-driven actively managed fund, the portfolio positioning underwent changes throughout the year. In fiscal Q1, significant returns were contributed by allocations to small caps with quality factor characteristics, while allocations to ‘deep-value’ mid-caps detracted. Shifting to Q2, the factor exposures transitioned to a combination of value and low volatility, with a small allocation to growth-oriented stocks that outperformed while much of the rest of the portfolio lagged. However, selection and allocation effects within the Energy and Utilities sectors were major detractors. Moving into Q3, the fund benefited from security selection in the Energy and Communications Services sectors, while selection within Utilities, Health Care, and Information Technology drove relative underperformance. Furthermore, reducing exposure to the momentum factor had positive effects. As the fiscal year concluded, the fund’s security selection in Materials and Communication Services sectors resulted in relative outperformance in Q4, although there were some detracting effects from selection within Industrials. Despite fluctuations and periods of underperformance earlier in the year, the fund rebounded in Q3 and Q4 to end the fiscal year performing in line with the market.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,285.80        0.59   $ 3.36  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.99        0.59   $ 2.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.33 and $2.95, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns1

       0.80      12.24      2.48      3.56

Fund Market Price Returns1

       1.74      12.55      2.38      3.56

MSCI EAFE Value Index

       -0.31      14.58      1.75      3.75
1 

The Fund’s investment objective changed effective January 18, 2022. Prior to January 18, 2022, the Fund’s investment objective sought to track the price and yield performance, before fees and expenses, of the WisdomTree International Dividend ex-Financials Index.

 

LOGO

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

 

6   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International Equity Fund (DWM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    21.1%  

Industrials

    12.8%  

Materials

    11.3%  

Consumer Discretionary

    10.4%  

Consumer Staples

    8.9%  

Health Care

    8.1%  

Communication Services

    7.0%  

Energy

    6.5%  

Utilities

    5.1%  

Real Estate

    4.3%  

Information Technology

    3.4%  

Other Assets less Liabilities‡

    1.1%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

BHP Group Ltd.

    3.7%  

Nestle SA, Registered Shares

    1.7%  

Novartis AG, Registered Shares

    1.7%  

Shell PLC

    1.6%  

LVMH Moet Hennessy Louis Vuitton SE

    1.5%  

TotalEnergies SE

    1.4%  

HSBC Holdings PLC

    1.4%  

Rio Tinto Ltd.

    1.2%  

Roche Holding AG

    1.0%  

Mercedes-Benz Group AG

    0.9%  
*

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

The WisdomTree International Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International Equity Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -1.55% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). From a sector perspective, no individual sectors made outsized positive or negative contributions, with most resulting in fewer than 10 basis points of outperformance or underperformance. The same can be said for country allocations. There were more significant impacts from dividend quintiles, where the Fund’s emphasis on overweighting larger dividend-payers was additive for performance, along with avoiding those that do not pay dividends. Certain quintiles, such as the third and fourth (representing groups of average-to-relatively smaller dividend-payers), had idiosyncratic effects that weighed on performance, which was evinced through negative stock selection effects.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,251.30        0.49   $ 2.75  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.49        0.49   $ 2.47  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.48% and the actual and hypothetical expenses paid during the period would have been $2.72 and $2.44, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -1.55      12.12      1.96      4.17

Fund Market Price Returns

       -1.01      12.35      1.85      4.10

WisdomTree International Equity Index

       -1.33      12.53      2.18      4.40

MSCI EAFE Index

       -1.38      12.99      3.52      5.00

MSCI EAFE Value Index

       -0.31      14.58      1.75      3.75

 

LOGO

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

 

WisdomTree Trust      7  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International High Dividend Fund (DTH)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    24.0%  

Materials

    15.8%  

Utilities

    8.8%  

Industrials

    8.6%  

Energy

    8.1%  

Communication Services

    7.8%  

Consumer Discretionary

    7.4%  

Health Care

    7.3%  

Real Estate

    6.3%  

Consumer Staples

    3.9%  

Information Technology

    0.5%  

Investment Company

    0.3%  

Other Assets less Liabilities‡

    1.2%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

BHP Group Ltd.

    5.8%  

Novartis AG, Registered Shares

    3.3%  

TotalEnergies SE

    2.9%  

Rio Tinto Ltd.

    2.4%  

HSBC Holdings PLC

    2.0%  

Mercedes-Benz Group AG

    1.8%  

Hapag-Lloyd AG

    1.5%  

British American Tobacco PLC

    1.4%  

BP PLC

    1.4%  

Sanofi

    1.4%  
*

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

The WisdomTree International High Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International High Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in high-dividend-yielding companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 0.01% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Financials and Industrials, entirely due to stock selection effects. Materials and Consumer Discretionary weighed on performance via negative allocation effects, due to overweighting the former when it lagged the market and underweighting the latter when it outperformed. Japan and Switzerland were the two greatest country contributors due to positive stock selection, while the Netherlands and Australia lagged. Australia was overweighted when it subsequently underperformed, resulting in a negative allocation effect, while the Netherlands’ adverse impact was due to a combination of stock selection and allocation effects. The Fund’s emphasis on companies paying large dividends in the developed international universe was generally positive, as it was heavily overweight the top two quintiles of dividend-paying companies, both of which outperformed and resulted in positive allocation effects.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,264.30        0.58   $ 3.27  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio, actual and hypothetical expenses paid during the period would have been unchanged.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       0.01      13.95      2.01      3.66

Fund Market Price Returns

       0.55      14.27      1.89      3.62

WisdomTree International High Dividend Index

       0.26      14.43      2.31      3.95

MSCI EAFE Value Index

       -0.31      14.58      1.75      3.75

 

LOGO

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

 

8   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International LargeCap Dividend Fund (DOL)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    22.5%  

Consumer Discretionary

    10.8%  

Materials

    10.6%  

Consumer Staples

    10.1%  

Health Care

    10.0%  

Industrials

    9.9%  

Energy

    7.9%  

Communication Services

    7.6%  

Utilities

    5.1%  

Information Technology

    2.5%  

Real Estate

    1.8%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    1.1%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

BHP Group Ltd.

    5.1%  

Novartis AG, Registered Shares

    2.3%  

Nestle SA, Registered Shares

    2.3%  

LVMH Moet Hennessy Louis Vuitton SE

    2.2%  

Shell PLC

    2.1%  

TotalEnergies SE

    2.0%  

HSBC Holdings PLC

    1.9%  

Rio Tinto Ltd.

    1.6%  

Roche Holding AG

    1.5%  

Mercedes-Benz Group AG

    1.2%  
*

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

The WisdomTree International LargeCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International LargeCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying large-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -0.05% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Financials, Communication Services, and Real Estate, owing to positive stock selection impacts in each. Health Care weighed on performance due to poor stock selection, while Materials hurt performance due to the allocation effect, resulting from overweighting a lagging sector. Japan and Germany contributed positively at the country level due to positive stock selection, while the Netherlands and Australia both detracted, due to underweighting the former when it outperformed and overweighting the latter when it underperformed. Within the international large cap space, overweighting the top two quintiles of dividend-payers was additive, resulting in positive allocation effects.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,260.50        0.49   $ 2.76  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.49        0.49   $ 2.47  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.48% and the actual and hypothetical expenses paid during the period would have been $2.73 and $2.44, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     -0.05      12.50      2.70      4.01

Fund Market Price Returns

     0.82      12.73      2.59      3.99

WisdomTree International LargeCap Dividend Index

     0.11      12.83      2.94      4.28

MSCI EAFE Index

     -1.38      12.99      3.52      5.00

MSCI EAFE Value Index

     -0.31      14.58      1.75      3.75

 

LOGO

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

 

WisdomTree Trust      9  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International MidCap Dividend Fund (DIM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    19.9%  

Financials

    17.8%  

Materials

    13.8%  

Real Estate

    12.1%  

Consumer Discretionary

    7.8%  

Communication Services

    6.3%  

Utilities

    6.2%  

Consumer Staples

    5.6%  

Information Technology

    4.3%  

Energy

    3.1%  

Health Care

    2.2%  

Other Assets less Liabilities‡

    0.9%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

South32 Ltd.

    1.4%  

Nippon Yusen KK

    1.2%  

Mitsui OSK Lines Ltd.

    0.9%  

Power Assets Holdings Ltd.

    0.9%  

ICL Group Ltd.

    0.8%  

OCI NV

    0.8%  

Koninklijke KPN NV

    0.7%  

Randstad NV

    0.7%  

ACS Actividades de Construccion y Servicios SA

    0.7%  

Poste Italiane SpA

    0.6%  
*

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

The WisdomTree International MidCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International MidCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying mid-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -5.68% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Industrials, Financials, and Consumer Staples, primarily due to positive stock selection. Communication Services and Utilities weighed on performance due to poorer stock selection. Japan and Switzerland contributed the most positively from a country standpoint, while the Netherlands and Australia detracted. All four were due to stock selection effects. Within the international midcap space, performance attribution by dividend quintiles was more mixed, owing to stock selection effects within each of the five quintiles.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,239.80        0.59   $ 3.29  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.99        0.59   $ 2.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.26 and $2.95, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     -5.68      11.34      0.39      4.50

Fund Market Price Returns

     -4.60      11.80      0.29      4.50

WisdomTree International MidCap Dividend Index

     -5.58      11.72      0.77      4.90

MSCI EAFE Mid Cap Index

     -6.23      11.07      1.46      5.14

MSCI EAFE Mid Cap Value Index

     -4.65      12.46      0.60      4.80

 

LOGO

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

 

10   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International Multifactor Fund (DWMF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    17.8%  

Consumer Staples

    15.9%  

Financials

    14.5%  

Communication Services

    10.4%  

Health Care

    9.5%  

Utilities

    8.1%  

Consumer Discretionary

    6.9%  

Energy

    5.2%  

Materials

    4.8%  

Real Estate

    4.2%  

Information Technology

    2.4%  

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

National Grid PLC

    2.2%  

Novartis AG, Registered Shares

    2.1%  

Deutsche Telekom AG, Registered Shares

    1.9%  

ANZ Group Holdings Ltd.

    1.8%  

Toshiba Corp.

    1.8%  

Sanofi

    1.7%  

Swisscom AG, Registered Shares

    1.5%  

BHP Group Ltd.

    1.5%  

Jeronimo Martins SGPS SA

    1.4%  

TotalEnergies SE

    1.4%  
*

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

The WisdomTree International Multifactor Fund (the “Fund”) seeks capital appreciation by investing primarily in equity securities of developed countries, excluding the U.S. and Canada, with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation. The Fund seeks to manage its currency risk by dynamically hedging currency fluctuations in the relative value of the applicable international currencies against the U.S. dollar, ranging from a 0% to 100% hedge.

The Fund returned 2.76% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its exposures to the Consumer Discretionary, Communication Services, and Financials sectors, primarily due to stock selection effects. The Fund was negatively impacted by its exposure to the Information Technology sector due to both allocation and stock selection effects, as well as its exposure to the Energy sector, primarily due to stock selection effects. In terms of country exposures, the Fund’s allocations to companies in France and Japan drove much of its returns. The Fund’s overexposure to companies with the highest dividend yields and underexposure to those with zero dividend yields were also major drivers of the Fund’s performance. The Fund also benefited from being currency-hedged during the period, as broad strength in the U.S. dollar versus most other developed market currencies would have otherwise weighed on Fund performance.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,168.90        0.39   $ 2.11  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.99        0.39   $ 1.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.38% and the actual and hypothetical expenses paid during the period would have been $2.08 and $1.94, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      Since Inception1  

Fund NAV Returns

     2.76      9.70      3.27

Fund Market Price Returns

     3.50      9.59      3.34

MSCI EAFE Local Currency Index

     3.84      14.63      5.70

MSCI EAFE Index

     -1.38      12.99      4.13
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on August 10, 2018.

 

LOGO

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

 

WisdomTree Trust      11  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International Quality Dividend Growth Fund (IQDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    20.9%  

Consumer Staples

    18.9%  

Health Care

    18.3%  

Industrials

    14.7%  

Information Technology

    11.7%  

Financials

    4.7%  

Communication Services

    3.6%  

Materials

    2.6%  

Utilities

    2.1%  

Energy

    1.1%  

Real Estate

    1.0%  

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

LVMH Moet Hennessy Louis Vuitton SE

    6.2%  

Unilever PLC

    4.4%  

Nestle SA, Registered Shares

    4.0%  

Novartis AG, Registered Shares

    4.0%  

Industria de Diseno Textil SA

    3.9%  

GSK PLC

    3.8%  

Novo Nordisk A/S, Class B

    3.1%  

L’Oreal SA

    3.0%  

SAP SE

    2.9%  

ASML Holding NV

    2.7%  
*

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

The WisdomTree International Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -4.85% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Real Estate, Communication Services, and Consumer Discretionary. Real Estate’s impact was a result of the allocation effect, where the sector was underweighted and subsequently underperformed the market. The latter two sectors contributed positively due to strong stock selection. Materials was a headwind, as the Fund was overweight and underperforming sector, resulting in a negative allocation effect that was compounded by poor stock selection. Spain and France were positive contributors at the country level, while Switzerland and the United Kingdom detracted. All four countries’ effects were a result of stock selection. Despite quality stocks being rewarded in the U.S. last year, high-quality stocks elsewhere did not have as much success during the period. The performance picture among quintiles ranked by return-on-equity was mixed for the Fund, ultimately due to stock selection effects within each. Lastly, local currency effects also weighed on the Fund, as most currencies in the developed market universe weakened versus the U.S. dollar for much of the fiscal year. During a period where the U.S. dollar steadily trended higher, hedging foreign currency exposures would have been additive.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,283.90        0.43   $ 2.45  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.79        0.43   $ 2.17  
1

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.42% and the actual and hypothetical expenses paid during the period would have been $2.39 and $2.12, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

     -4.85      12.55      4.79      6.95

Fund Market Price Returns

     -3.59      13.07      4.66      7.06

WisdomTree International Quality Dividend Growth Index

     -4.83      12.95      5.15      7.31

MSCI EAFE Index

     -1.38      12.99      3.52      6.62
1 

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

 

LOGO

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

 

12   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International SmallCap Dividend Fund (DLS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    23.9%  

Consumer Discretionary

    13.4%  

Materials

    13.1%  

Financials

    13.1%  

Real Estate

    10.9%  

Information Technology

    7.1%  

Consumer Staples

    5.7%  

Communication Services

    3.7%  

Health Care

    3.6%  

Utilities

    2.0%  

Energy

    2.0%  

Investment Company

    0.3%  

Other Assets less Liabilities‡

    1.2%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

D/S Norden A/S

    0.9%  

SSAB AB, Class A

    0.8%  

Sims Ltd.

    0.6%  

Coface SA

    0.6%  

Azimut Holding SpA

    0.6%  

Charter Hall Long Wale REIT

    0.6%  

NOS SGPS SA

    0.6%  

Sydbank A/S

    0.5%  

Deterra Royalties Ltd.

    0.5%  

VGP NV

    0.5%  
*

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

The WisdomTree International SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -7.23% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Materials, Communication Services, and Industrials, all of which were entirely due to positive stock selection. Utilities and Consumer Staples were a slight drag on performance also due to negative stock selection. At the country-level, Japan and France were additive due to stock selection, while Israel and Australia weighed on performance due to stock selection and allocation effects, respectively. When analyzing performance by dividend quintiles, a combination of allocation and stock selection effects positively contributed to performance within the top two quintiles, representing overweights to larger payers.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,201.10        0.58   $ 3.18  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio, actual and hypothetical expenses paid during the period would have been unchanged.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     -7.23      12.20      -0.63      4.54

Fund Market Price Returns

     -6.04      12.62      -0.77      4.56

WisdomTree International SmallCap Dividend Index

     -6.99      13.15      0.33      5.28

MSCI EAFE Small Cap Index

     -9.83      12.07      0.87      5.86

MSCI EAFE Small Cap Value Index

     -7.08      13.44      0.49      5.32

 

LOGO

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

 

WisdomTree Trust      13  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    25.7%  

Materials

    16.3%  

Consumer Discretionary

    16.2%  

Information Technology

    12.8%  

Financials

    9.2%  

Consumer Staples

    7.2%  

Health Care

    4.7%  

Communication Services

    2.1%  

Real Estate

    1.8%  

Energy

    1.4%  

Utilities

    0.8%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    1.6%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

Kobe Steel Ltd.

    1.1%  

Cosmo Energy Holdings Co. Ltd.

    0.9%  

Seven Bank Ltd.

    0.6%  

Nippon Steel Trading Corp.

    0.6%  

Nippon Electric Glass Co. Ltd.

    0.6%  

Aozora Bank Ltd.

    0.6%  

Tokyo Seimitsu Co. Ltd.

    0.6%  

Konica Minolta, Inc.

    0.5%  

K’s Holdings Corp.

    0.5%  

Tokyo Ohka Kogyo Co. Ltd.

    0.5%  
*

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

The WisdomTree Japan SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the Japanese equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 3.62% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Real Estate, Information Technology and Industrials sectors, due to a combination of allocation and stock selection effects in Real Estate and primarily stock selection in the latter two. Consumer Discretionary had a negative impact on performance for the fiscal year, due to poor stock selection, while Consumer Staples also weighed on performance but was relatively modest. The Fund received strong performance contributions by overweighting the higher dividend-paying companies in the Japanese small cap universe while also benefitting from underweighting lower dividend-payers and avoiding non-payers altogether.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

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

Actual

   $ 1,000.00      $ 1,193.90        0.58   $ 3.17  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     3.62      7.27      -1.23      5.35

Fund Market Price Returns

     5.33      7.96      -1.38      5.37

WisdomTree Japan SmallCap Dividend Index

     3.94      7.61      -0.82      5.98

MSCI Japan Small Cap Index

     -1.43      6.07      -1.34      5.36

 

LOGO

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

 

14   WisdomTree Trust


Description of Terms and Indexes (unaudited)

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

Allocation Effect measures an investment manager’s ability to effectively allocate a portfolio’s assets to various segments. A segment refers to assets or securities that are grouped within a certain classification such as sectors, industries, or countries. The allocation effect determines whether the overweighting or underweighting of segments relative to a benchmark contributes positively or negatively to the overall portfolio return. Positive allocation occurs when the portfolio is overweighted in a segment that outperforms the benchmark and underweighted in a segment that underperforms the benchmark. Negative allocation occurs when the portfolio is overweighted in a segment that underperforms the benchmark and underweighted in a segment that outperforms the benchmark.

Growth is generally characterized by higher price levels relative to fundamentals, such as dividends or earnings. Price levels are higher because investors are willing to pay more due to their expectations of future improvements in these fundamentals.

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

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

The MSCI EAFE Mid Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of mid-capitalization equities in the developed markets, excluding the U.S. and Canada.

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

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

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

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

The MSCI Europe Index is a free float-adjusted market capitalization index that is designed to measure the performance of large- and mid-cap stocks within developed market European countries.

The MSCI Europe Small Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of “small” stocks within developed market

European countries.

The MSCI Japan Small Cap Index is a free float-adjusted market capitalization index that

is designed to measure the performance of small cap stocks within Japan.

Quality is generally characterized by higher efficiency and profitability. Typical measures include earnings, return-on-equity, return on assets, operating profitability as well as others. This term is also related to the quality factor, which associates these stock characteristics with excess returns vs. the market over time.

Quintiles refers to separating a universe of companies into five groups of equal size on the basis of dividend yield, price-to-earnings, or return-on-equity, as applicable.

 

WisdomTree Trust      15  


Description of Terms and Indexes (unaudited) (continued)

 

Return-on-Equity (ROE) measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.

Selection Effect measures an investment manager’s ability to select securities within a given segment relative to a benchmark. The over or underperformance of the portfolio is weighted by the benchmark weight, therefore, selection is not affected by the investment manager’s allocation to the segment. The weight of the segment in the portfolio determines the size of the effect—the larger the segment, the larger the effect is, positive or negative. A positive selection effect occurs when the portfolio return is greater than the benchmark return. Thus, the investment manager made good decisions in selecting securities that, as a whole, outperformed similar securities in the benchmark. A negative selection effect occurs when the portfolio return is less than the benchmark return. Thus, the investment manager made poor decisions in selecting securities that, as a whole, underperformed similar securities in the benchmark.

Volatility is a statistical measure of the dispersion of returns for a given security or market index around a particular average level. If the price stays relatively stable, the security has low volatility. A highly volatile security hits new highs and lows quickly, moves erratically, and has rapid increases and dramatic falls.

The WisdomTree Europe Quality Dividend Growth Index is a fundamentally weighted index that measures the performance of dividend-paying common stocks with growth characteristics selected from the WisdomTree International Equity Index.

The WisdomTree Europe SmallCap Dividend Index is a fundamentally weighted index that measures the performance of the small-capitalization segment of the European dividend-paying market.

The WisdomTree International Dividend ex-Financials Index measures the performance

of high dividend-yielding international stocks outside the financial sector.

The WisdomTree International Equity Index is a fundamentally weighted Index that measures the performance of dividend-paying companies in the industrialized world, excluding Canada and the United States.

The WisdomTree International High Dividend Index is comprised of companies with high dividend yields selected from the WisdomTree International Equity Index.

The WisdomTree International LargeCap Dividend Index is comprised of the large-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree International MidCap Dividend Index is comprised of the mid-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree International Quality Dividend Growth Index is a fundamentally weighted index designed to provide exposure to dividend paying developed market

companies.

The WisdomTree International SmallCap Dividend Index is comprised of the small-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree Japan SmallCap Dividend Index is comprised of dividend-paying

small-capitalization companies in Japan.

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

 

16   WisdomTree Trust


Description of Terms and Indexes (unaudited) (concluded)

any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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

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

Index performance information assumes the reinvestment of dividends and excludes

management fees, transaction costs and expenses. You cannot directly invest in an index.

* * * * * *

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

 

Currency abbreviations:           
AUD   Australian dollar    JPY   Japanese yen
CHF   Swiss franc    NOK   Norwegian krone
DKK   Danish krone    NZD   New Zealand dollar
EUR   Euro    SEK   Swedish krona
GBP   British pound    SGD   Singapore dollar
HKD   Hong Kong dollar    USD   U.S. dollar
Other abbreviations:           
CVA   Certificaten Van Aandelen (Certificate of Stock)
RSP   Risparmio Italian Savings Shares

 

WisdomTree Trust      17  


Schedule of Investments

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.4%

 

Austria – 0.4%

 

EVN AG

     3,272      $ 72,697  

Oesterreichische Post AG

     2,337        86,454  

Verbund AG

     1,152        100,127  
     

 

 

 
Total Austria

 

     259,278  
Belgium – 0.8%

 

D’ieteren Group

     363        70,555  

Etablissements Franz Colruyt NV(a)

     2,156        63,057  

Melexis NV

     863        99,761  

UCB SA

     1,425        127,633  

VGP NV

     1,028        91,807  

Warehouses De Pauw CVA

     3,250        96,466  
     

 

 

 
Total Belgium

 

     549,279  
China – 0.4%

 

Prosus NV*

     3,487        272,541  
Denmark – 3.5%

 

Alm Brand A/S

     26,705        49,932  

Chr Hansen Holding A/S

     1,057        80,317  

Coloplast A/S, Class B

     1,842        242,267  

Dfds A/S

     1,184        47,971  

Novo Nordisk A/S, Class B

     10,135        1,604,974  

Novozymes A/S, Class B

     1,601        81,935  

Pandora A/S

     2,012        192,322  

Royal Unibrew A/S

     739        64,452  

Scandinavian Tobacco Group A/S(b)

     2,256        44,814  

SimCorp A/S

     470        35,562  
     

 

 

 
Total Denmark

 

     2,444,546  
Finland – 2.9%

 

Elisa Oyj

     3,561        214,953  

Fortum Oyj*

     34,678        531,796  

Kone Oyj, Class B

     9,899        516,229  

Konecranes Oyj

     2,334        78,203  

Metso Outotec Oyj

     13,739        149,864  

Neste Oyj

     6,571        324,328  

Sanoma Oyj

     3,393        29,896  

Valmet Oyj

     4,981        161,482  
     

 

 

 
Total Finland

 

     2,006,751  
France – 23.4%

 

Air Liquide SA

     5,208        872,499  

Airbus SE

     5,666        758,890  

BioMerieux

     588        61,967  

Bollore SE(a)

     18,572        114,810  

Bouygues SA

     12,056        407,224  

Bureau Veritas SA

     5,079        146,064  

Capgemini SE

     1,204        223,356  

Carrefour SA

     8,810        178,319  

Danone SA

     9,812        610,939  

Dassault Aviation SA

     737        146,210  

Dassault Systemes SE

     3,284        135,134  

Eurazeo SE

     1,326        94,361  

Gaztransport Et Technigaz SA

     600        61,406  

Hermes International

     312      631,845  

Kering SA

     1,594        1,039,081  

L’Oreal SA

     2,810        1,255,515  

La Francaise des Jeux SAEM(b)

     3,757        156,700  

LVMH Moet Hennessy Louis Vuitton SE

     4,544        4,168,658  

Metropole Television SA(a)

     6,052        98,299  

Remy Cointreau SA

     233        42,528  

Rubis SCA

     4,505        120,746  

Sanofi

     21,114        2,299,436  

Sartorius Stedim Biotech

     178        54,535  

Schneider Electric SE

     6,134        1,024,167  

Societe BIC SA

     752        47,468  

Sodexo SA

     1,038        101,564  

Sopra Steria Group SACA

     333        69,934  

Teleperformance

     362        87,193  

Thales SA

     2,396        354,937  

Veolia Environnement SA

     15,256        470,727  

Verallia SA(b)

     2,289        97,735  

Vivendi SE

     16,212        163,806  

Wendel SE

     854        90,324  
     

 

 

 
Total France

 

     16,186,377  
Georgia – 0.1%

 

Bank of Georgia Group PLC

     1,611        54,778  
Germany – 10.5%

 

adidas AG

     3,328        588,565  

Bechtle AG

     1,016        48,558  

Beiersdorf AG

     718        93,570  

Carl Zeiss Meditec AG, Bearer Shares

     377        52,428  

Deutsche Telekom AG, Registered Shares

     88,256        2,143,046  

Fielmann AG

     2,102        87,649  

Hannover Rueck SE

     2,158        422,841  

Hella GmbH & Co. KGaA

     509        44,323  

Henkel AG & Co. KGaA

     3,167        230,533  

MTU Aero Engines AG

     365        91,445  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     2,930        1,026,614  

Puma SE

     1,620        100,076  

Rheinmetall AG

     457        135,844  

SAP SE

     12,206        1,539,096  

Scout24 SE(b)

     772        45,879  

Siemens Healthineers AG(b)

     8,278        476,842  

Stroeer SE & Co. KGaA

     1,478        78,137  

Symrise AG

     701        76,312  
     

 

 

 
Total Germany

 

     7,281,758  
Ireland – 0.2%

 

Glanbia PLC

     3,008        43,661  

Kerry Group PLC, Class A

     698        69,646  
     

 

 

 
Total Ireland

 

     113,307  
Israel – 0.1%

 

Plus500 Ltd.

     2,965        62,030  
Italy – 2.3%

 

Azimut Holding SpA

     6,265        134,090  

 

See Notes to Financial Statements.

 

18   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2023

 

 

 

Investments    Shares      Value  

Banca Generali SpA(a)

     4,094      $ 130,680  

Banca Mediolanum SpA

     23,454        212,975  

BPER Banca

     25,480        62,923  

Buzzi Unicem SpA

     2,798        67,972  

De’ Longhi SpA

     3,999        91,500  

Enav SpA(b)

     8,803        36,879  

Ferrari NV

     694        187,971  

FinecoBank Banca Fineco SpA

     8,835        135,727  

Italgas SpA

     25,536        156,058  

Leonardo SpA

     5,538        65,101  

Moncler SpA

     2,015        139,102  

RAI Way SpA(b)

     8,466        50,956  

Recordati Industria Chimica e Farmaceutica SpA

     2,527        106,963  
     

 

 

 
Total Italy               1,578,897  
Netherlands – 5.6%

 

Aegon NV

     48,617        208,692  

ASM International NV

     238        96,164  

ASML Holding NV

     2,108        1,431,856  

BE Semiconductor Industries NV

     2,595        225,829  

Euronext NV(b)

     1,733        132,889  

Heineken Holding NV

     2,436        223,769  

Heineken NV

     3,344        359,894  

Koninklijke KPN NV

     106,194        375,659  

SBM Offshore NV

     6,736        100,078  

Universal Music Group NV

     18,992        480,872  

Wolters Kluwer NV

     2,020        255,345  
     

 

 

 
Total Netherlands               3,891,047  
Norway – 0.6%

 

Austevoll Seafood ASA

     4,786        42,910  

Gjensidige Forsikring ASA

     10,088        165,001  

Kongsberg Gruppen ASA

     1,274        51,432  

Leroy Seafood Group ASA

     12,014        62,289  

Salmar ASA

     2,779        120,945  
     

 

 

 
Total Norway               442,577  
Portugal – 0.3%

 

Jeronimo Martins SGPS SA

     8,443        198,318  
Spain – 3.6%

 

Cie Automotive SA

     2,063        59,396  

Ferrovial SA

     9,524        280,310  

Industria de Diseno Textil SA

     60,512        2,031,466  

Laboratorios Farmaceuticos Rovi SA

     672        28,094  

Unicaja Banco SA(a)(b)

     43,477        46,669  

Viscofan SA

     656        47,039  
     

 

 

 
Total Spain               2,492,974  
Sweden – 5.5%

 

Alfa Laval AB

     4,824        171,987  

Assa Abloy AB, Class B

     9,389        224,821  

Atlas Copco AB, Class A

     23,688        300,487  

Atlas Copco AB, Class B

     16,574        190,489  

Avanza Bank Holding AB(a)

     3,618        84,784  

Axfood AB

     2,348        57,333  

Bilia AB, Class A

     3,393        41,883  

Elekta AB, Class B(a)

     7,156      54,573  

Epiroc AB, Class A(a)

     5,381        106,794  

Epiroc AB, Class B

     5,851        99,562  

Essity AB, Class B(a)

     7,510        214,664  

Evolution AB(b)

     1,660        222,229  

Hexagon AB, Class B

     15,400        176,506  

Hexpol AB

     9,781        121,207  

Husqvarna AB, Class B(a)

     12,731        110,299  

Indutrade AB(a)

     2,655        56,354  

Investment AB Latour, Class B

     5,793        117,653  

Loomis AB

     1,290        44,163  

Nibe Industrier AB, Class B

     5,345        60,720  

Nordnet AB publ

     5,497        90,516  

Saab AB, Class B

     899        54,705  

Sagax AB, Class B

     1,845        42,488  

Sandvik AB

     16,669        353,327  

Securitas AB, Class B

     11,226        99,902  

SKF AB, Class B

     9,449        185,890  

Sweco AB, Class B

     4,765        60,427  

Telefonaktiebolaget LM Ericsson, Class B(a)

     64,585        377,437  

Thule Group AB(a)(b)

     3,558        87,393  
     

 

 

 
Total Sweden               3,808,593  
Switzerland – 20.4%

 

ABB Ltd., Registered Shares

     30,198        1,036,956  

BKW AG

     732        115,223  

Clariant AG, Registered Shares*

     4,003        66,209  

Coca-Cola HBC AG*

     4,137        113,199  

DKSH Holding AG

     1,010        81,426  

Galenica AG(b)

     715        60,539  

Geberit AG, Registered Shares

     495        275,906  

Georg Fischer AG, Registered Shares

     953        73,962  

Givaudan SA, Registered Shares

     99        322,179  

Landis & Gyr Group AG*

     680        52,142  

Logitech International SA, Registered Shares

     1,766        102,649  

Lonza Group AG, Registered Shares

     203        121,638  

Nestle SA, Registered Shares

     20,653        2,519,822  

Novartis AG, Registered Shares

     33,491        3,070,665  

Partners Group Holding AG

     503        471,754  

Roche Holding AG

     6,700        1,913,814  

Roche Holding AG, Bearer Shares

     918        276,340  

Schindler Holding AG, Participation Certificate

     350        77,429  

Schindler Holding AG, Registered Shares

     1,058        223,517  

SFS Group AG

     568        73,615  

SGS SA, Registered Shares

     137        301,578  

SIG Group AG*

     4,438        114,259  

Sika AG, Registered Shares

     1,013        283,314  

Sonova Holding AG, Registered Shares

     520        152,889  

Stadler Rail AG(a)

     1,645        64,284  

Straumann Holding AG, Registered Shares(a)

     568        84,776  

Sulzer AG, Registered Shares

     1,000        84,779  

Temenos AG, Registered Shares

     582        40,314  

VAT Group AG(a)(b)

     407        146,218  

Zurich Insurance Group AG

     3,772        1,807,240  
     

 

 

 
Total Switzerland

 

     14,128,635  

 

See Notes to Financial Statements.

 

WisdomTree Trust      19  


Schedule of Investments (concluded)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
United Kingdom – 16.0%

 

Airtel Africa PLC(b)

     70,269      $ 92,532  

Ashtead Group PLC

     3,604        220,937  

Auto Trader Group PLC(b)

     7,878        60,022  

BAE Systems PLC

     50,586        614,587  

Beazley PLC

     6,702        49,513  

British American Tobacco PLC

     56,808        1,995,174  

Burberry Group PLC

     5,318        170,041  

CNH Industrial NV

     15,184        232,273  

Compass Group PLC

     11,750        295,360  

Computacenter PLC

     2,519        66,590  

Croda International PLC

     1,113        89,423  

Diageo PLC

     17,157        766,666  

Diploma PLC

     1,522        52,881  

Drax Group PLC

     8,440        63,396  

Dunelm Group PLC

     4,999        68,300  

Fresnillo PLC

     12,893        118,924  

Games Workshop Group PLC

     829        98,812  

Greggs PLC

     1,637        56,148  

Halma PLC

     1,909        52,613  

Hargreaves Lansdown PLC

     11,703        115,674  

Howden Joinery Group PLC

     11,658        100,613  

IMI PLC

     3,114        59,064  

Imperial Brands PLC

     24,685        568,926  

Intertek Group PLC

     2,296        115,060  

Investec PLC

     20,153        112,032  

ITV PLC

     146,211        149,688  

Next PLC

     2,444        198,598  

Ninety One PLC(a)

     26,691        61,120  

Pagegroup PLC

     16,941        95,601  

Pearson PLC

     8,165        85,247  

Pets at Home Group PLC

     11,061        50,466  

Reckitt Benckiser Group PLC

     7,834        596,485  

RELX PLC

     21,843        707,064  

Rentokil Initial PLC

     13,430        98,238  

Rightmove PLC

     8,385        58,370  

Rotork PLC

     9,263      36,055  

RS Group PLC

     5,221        59,003  

Sage Group PLC

     14,218        136,244  

Segro PLC

     18,346        174,122  

Smith & Nephew PLC

     12,140        168,418  

Spectris PLC

     1,633        73,880  

Spirax-Sarco Engineering PLC

     507        74,317  

Tate & Lyle PLC

     5,814        56,403  

TBC Bank Group PLC

     2,238        61,985  

Unilever PLC

     36,355        1,883,452  

Victrex PLC

     1,236        24,345  
     

 

 

 
Total United Kingdom

 

     11,084,662  
United States – 2.8%

 

GSK PLC

     109,484        1,934,459  
TOTAL COMMON STOCKS
(Cost: $62,090,438)

 

     68,790,807  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.6%

 

United States – 1.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $1,121,606)      1,121,606        1,121,606  
TOTAL INVESTMENTS IN SECURITIES – 101.0%
(Cost: $63,212,044)

 

     69,912,413  

Other Assets less Liabilities – (1.0)%

 

     (671,715
     

 

 

 
NET ASSETS – 100.0%

 

   $ 69,240,698  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $1,436,515 and the total market value of the collateral held by the Fund was $1,512,492. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $390,886.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

     

Quoted
Prices in
Active
Markets

(Level 1)

    

Other
Significant
Observable
Inputs

(Level 2)

    

Significant
Unobservable
Inputs

(Level 3)

     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 68,790,807      $      $      $ 68,790,807  

Investment of Cash Collateral for Securities Loaned

            1,121,606               1,121,606  

Total Investments in Securities

   $ 68,790,807      $ 1,121,606      $      $ 69,912,413  

 

See Notes to Financial Statements.

 

20   WisdomTree Trust


Schedule of Investments

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.9%

 

Austria – 1.8%

 

AT&S Austria Technologie & Systemtechnik AG

     23,926      $ 736,941  

Lenzing AG

     33,790        2,551,424  

S IMMO AG

     35,303        509,354  

Schoeller-Bleckmann Oilfield Equipment AG

     6,574        423,540  

Semperit AG Holding

     11,331        305,302  
     

 

 

 
Total Austria

 

     4,526,561  
Belgium – 1.7%

 

Bekaert SA

     47,421        2,143,254  

Deceuninck NV

     524        1,429  

Fagron

     28,754        491,402  

Recticel SA

     28,458        529,938  

Xior Student Housing NV(a)

     31,523        1,061,693  
     

 

 

 
Total Belgium

 

     4,227,716  
Denmark – 6.6%

 

Cementir Holding NV

     56,279        482,429  

Chemometec A/S*

     2,653        151,754  

D/S Norden A/S

     70,301        4,728,737  

Dfds A/S

     43,463        1,760,947  

FLSmidth & Co. A/S

     21,123        807,761  

Matas A/S

     31,311        384,506  

Per Aarsleff Holding A/S

     13,560        583,413  

Scandinavian Tobacco Group A/S(b)

     90,708        1,801,843  

Schouw & Co. A/S

     11,575        970,696  

Spar Nord Bank A/S

     100,943        1,592,934  

Sydbank A/S

     73,633        3,316,226  
     

 

 

 
Total Denmark

 

     16,581,246  
Finland – 5.7%

 

Aktia Bank Oyj

     22,300        231,376  

Caverion Oyj

     55,739        518,979  

Citycon Oyj(a)

     187,701        1,283,725  

Harvia Oyj

     19,547        465,512  

Kamux Corp.(a)

     49,115        278,011  

Kemira Oyj

     59,610        1,050,460  

Konecranes Oyj

     94,109        3,153,227  

Lassila & Tikanoja Oyj(a)

     13,649        149,772  

Marimekko Oyj

     34,789        368,894  

Musti Group Oyj*

     21,600        378,059  

Outokumpu Oyj(a)

     449,540        2,452,758  

Puuilo Oyj

     93,817        684,953  

Rovio Entertainment Oyj(b)

     44,368        376,229  

Terveystalo Oyj(a)(b)

     62,199        474,384  

Tokmanni Group Corp.(a)

     112,377        1,551,789  

Uponor Oyj

     51,101        945,483  
     

 

 

 
Total Finland

 

     14,363,611  
France – 4.4%

 

Beneteau SA

     46,737        781,972  

Coface SA

     148,698        2,108,266  

Derichebourg SA

     214,716        1,259,702  

Etablissements Maurel et Prom SA

     246,075        921,015  

Fnac Darty SA

     43,730        1,614,405  

Lectra

     13,652      539,151  

LISI(a)

     15,319        406,097  

Maisons du Monde SA(a)(b)

     64,803        697,364  

Mersen SA

     13,869        618,540  

Quadient SA

     28,691        523,055  

Television Francaise 1(a)

     173,400        1,532,556  
     

 

 

 
Total France

 

     11,002,123  
Georgia – 0.8%

 

Bank of Georgia Group PLC

     60,090        2,043,203  
Germany – 8.0%

 

7C Solarparken AG

     80,122        329,044  

AURELIUS Equity Opportunities SE & Co. KGaA

     36,679        591,771  

BayWa AG

     13,364        590,210  

Bilfinger SE

     31,915        1,355,755  

Cliq Digital AG

     10,501        334,278  

CropEnergies AG

     57,002        699,807  

Deutz AG

     103,731        673,374  

Duerr AG

     27,866        1,000,286  

Energiekontor AG

     4,750        342,666  

Gerresheimer AG

     16,885        1,672,120  

GFT Technologies SE

     6,736        261,996  

Hamborner REIT AG

     40,277        319,878  

Hamburger Hafen und Logistik AG

     37,267        460,762  

Hornbach Holding AG & Co. KGaA

     14,045        1,123,839  

Instone Real Estate Group SE(b)

     77,943        660,513  

Jenoptik AG

     15,250        518,921  

JOST Werke AG(b)

     8,094        427,815  

Kloeckner & Co. SE

     249,554        2,685,522  

Mutares SE & Co. KGaA

     15,749        335,708  

SAF-Holland SE

     58,616        748,279  

Salzgitter AG

     52,004        2,056,591  

Varta AG(a)

     73,963        2,029,017  

Wacker Neuson SE

     22,582        473,265  

Wuestenrot & Wuerttembergische AG

     16,307        285,594  
     

 

 

 
Total Germany

 

     19,977,011  
Ireland – 0.3%

 

Kenmare Resources PLC

     63,331        367,645  

Origin Enterprises PLC

     66,330        297,625  
     

 

 

 
Total Ireland

 

     665,270  
Italy – 6.5%

 

Alerion Cleanpower SpA(a)

     25,880        830,867  

Anima Holding SpA(b)

     468,325        1,906,008  

Ariston Holding NV

     44,685        492,762  

Banca Popolare di Sondrio SpA

     263,957        1,122,441  

Cairo Communication SpA(a)

     142,299        289,103  

Danieli & C. Officine Meccaniche SpA(a)

     4,784        127,081  

Danieli & C. Officine Meccaniche SpA, RSP

     29,195        579,822  

El.En. SpA

     31,175        407,457  

Esprinet SpA(a)

     94,070        942,306  

Maire Tecnimont SpA(a)

     338,388        1,455,125  

MARR SpA

     41,886        602,513  

OVS SpA(b)

     148,679        389,293  

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Piaggio & C. SpA

     221,472      $ 946,111  

RAI Way SpA(b)

     102,296        615,713  

Salcef Group SpA(a)

     27,685        646,685  

Sanlorenzo SpA(a)

     16,688        725,227  

SOL SpA

     15,095        405,079  

Technogym SpA(a)(b)

     116,188        1,034,475  

Unieuro SpA(a)(b)

     41,712        492,153  

Webuild SpA(a)

     626,077        1,428,423  

Zignago Vetro SpA

     39,218        765,247  
     

 

 

 
Total Italy

 

     16,203,891  
Netherlands – 2.4%

 

AMG Advanced Metallurgical Group NV

     18,281        778,964  

Brunel International NV

     25,460        353,508  

Corbion NV

     31,893        1,047,820  

ForFarmers NV(a)

     129,560        458,175  

Heijmans NV, CVA

     49,056        673,673  

Ordina NV

     150,288        973,151  

RHI Magnesita NV

     52,536        1,455,062  

Sligro Food Group NV

     24,369        417,257  
     

 

 

 
Total Netherlands

 

     6,157,610  
Norway – 5.9%

 

ABG Sundal Collier Holding ASA

     348,050        202,720  

Atea ASA*

     46,805        572,041  

Austevoll Seafood ASA

     206,450        1,850,995  

Bonheur ASA

     13,520        300,140  

Borregaard ASA

     46,695        779,357  

DNO ASA

     1,328,597        1,302,832  

Europris ASA(b)

     171,073        1,186,702  

Grieg Seafood ASA

     128,891        1,006,086  

Kid ASA(b)

     22,912        185,736  

MPC Container Ships ASA

     1,764,235        2,810,654  

OKEA ASA(a)

     190,259        573,151  

SpareBank 1 Nord Norge(a)

     86,389        726,707  

SpareBank 1 SMN(a)

     90,796        1,071,544  

Sparebanken Vest

     42,231        370,974  

TGS ASA

     101,213        1,812,984  
     

 

 

 
Total Norway

 

     14,752,623  
Peru – 0.2%

 

Hochschild Mining PLC

     623,376        651,303  
Portugal – 1.9%

 

Altri SGPS SA(a)

     215,105        1,109,144  

Corticeira Amorim SGPS SA(a)

     41,885        455,059  

CTT – Correios de Portugal SA(a)

     135,440        531,943  

Mota-Engil SGPS SA(a)

     304,561        525,454  

Sonae SGPS SA

     1,939,159        2,117,333  
     

 

 

 
Total Portugal

 

     4,738,933  
Spain – 3.6%

 

Applus Services SA

     74,033        578,717  

Construcciones y Auxiliar de Ferrocarriles SA

     28,202        784,386  

Ence Energia y Celulosa SA(a)

     442,921        1,650,555  

Ercros SA

     91,616        433,480  

Faes Farma SA

     184,550        631,589  

Global Dominion Access SA(b)

     69,276      271,706  

Indra Sistemas SA(a)

     76,012        1,028,161  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)

     455,692        491,373  

Neinor Homes SA(a)(b)

     54,638        537,815  

Pharma Mar SA(a)

     5,303        254,771  

Sacyr SA(a)

     673,273        2,165,173  

Talgo SA(a)(b)

     73,184        248,471  
     

 

 

 
Total Spain

 

     9,076,197  
Sweden – 15.8%

 

AcadeMedia AB(b)

     98,736        491,321  

AddLife AB, Class B

     46,987        425,031  

AddNode Group AB

     30,363        365,133  

AFRY AB

     85,282        1,535,472  

Akelius Residential Property AB, Class D(a)

     158,934        318,756  

Ambea AB(b)

     78,507        274,824  

Beijer Alma AB(a)

     17,537        349,233  

Betsson AB, Class B*

     150,935        1,435,182  

Bilia AB, Class A

     60,078        741,593  

BioGaia AB, Class B

     22,214        196,379  

Biotage AB

     13,732        175,067  

Bufab AB

     12,844        342,480  

Catena AB

     23,344        864,463  

Clas Ohlson AB, Class B(a)

     134,644        1,001,109  

Cloetta AB, Class B

     393,994        831,337  

Coor Service Management Holding AB(b)

     74,799        477,162  

Corem Property Group AB, Class B(a)

     1,242,456        866,881  

Dios Fastigheter AB

     151,157        1,003,627  

Electrolux Professional AB, Class B

     70,162        366,726  

Ferronordic AB*(a)

     12,821        105,342  

G5 Entertainment AB(a)

     8,964        185,166  

GARO AB

     11,613        85,729  

Granges AB

     85,313        812,442  

HMS Networks AB

     12,944        528,518  

Instalco AB(a)

     88,234        425,277  

Inwido AB

     78,134        830,351  

JM AB(a)

     147,918        2,450,667  

KNOW IT AB

     17,046        339,291  

Lagercrantz Group AB, Class B

     72,014        900,735  

Lindab International AB

     56,015        856,737  

Medicover AB, Class B(a)

     17,169        278,160  

MEKO AB

     42,820        509,981  

MIPS AB(a)

     9,461        477,724  

Munters Group AB(b)

     42,103        387,957  

Mycronic AB

     36,319        892,428  

NCC AB, Class B(a)

     135,074        1,197,092  

New Wave Group AB, Class B

     33,211        569,448  

Nolato AB, Class B

     178,887        906,550  

Nordic Waterproofing Holding AB

     18,327        287,730  

Paradox Interactive AB

     15,159        377,895  

Peab AB, Class B

     386,164        1,930,904  

Platzer Fastigheter Holding AB, Class B

     34,449        267,099  

Ratos AB, Class B(a)

     181,956        554,841  

Rvrc Holding AB(a)

     76,319        238,903  

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Sagax AB, Class D(a)

     220,841      $ 557,983  

Samhallsbyggnadsbolaget i Norden AB, Class D(a)

     626,715        973,052  

Skandinaviska Enskilda Banken AB, Class C*(a)

     24,521        314,034  

SkiStar AB(a)

     30,161        362,413  

SSAB AB, Class A

     1,074,539        7,921,054  

Svenska Handelsbanken AB, Class B(a)

     40,655        435,972  

Troax Group AB

     24,746        514,271  

Vitec Software Group AB, Class B

     224        11,524  
     

 

 

 
Total Sweden

 

     39,549,046  
Switzerland – 3.9%

 

Arbonia AG

     35,461        423,878  

Ascom Holding AG, Registered Shares(a)

     32,108        283,280  

Comet Holding AG, Registered Shares

     4,366        1,209,127  

Huber + Suhner AG, Registered Shares

     14,804        1,268,845  

Landis & Gyr Group AG*

     28,117        2,155,980  

Medmix AG(b)

     28,951        604,658  

Mobilezone Holding AG, Registered Shares

     81,796        1,335,883  

Swissquote Group Holding SA, Registered Shares

     7,236        1,412,270  

u-blox Holding AG*

     3,239        453,116  

Zehnder Group AG

     6,952        566,936  
     

 

 

 
Total Switzerland

 

     9,713,973  
United Kingdom – 29.3%

 

AG Barr PLC

     94,848        591,065  

AJ Bell PLC

     174,940        746,683  

Alliance Pharma PLC(a)

     296,968        253,358  

Ashmore Group PLC

     771,647        2,276,490  

Bloomsbury Publishing PLC

     66,145        364,761  

Bodycote PLC

     130,395        1,052,006  

Bytes Technology Group PLC

     102,910        494,212  

Central Asia Metals PLC

     197,748        578,256  

Chemring Group PLC

     133,215        457,904  

Chesnara PLC

     91,693        340,121  

Clarkson PLC

     15,120        577,679  

Close Brothers Group PLC

     173,344        1,931,124  

CLS Holdings PLC

     454,670        755,566  

CMC Markets PLC(b)

     292,108        634,949  

Coats Group PLC

     988,882        901,132  

Concentric AB

     11,719        239,589  

Craneware PLC

     12,416        176,545  

Cranswick PLC

     43,224        1,605,467  

Crest Nicholson Holdings PLC

     372,338        1,005,464  

Currys PLC

     1,088,540        790,731  

Devro PLC

     111,090        450,532  

DFS Furniture PLC

     350,930        590,982  

DiscoverIE Group PLC

     26,803        255,514  

Diversified Energy Co. PLC

     2,029,123        2,373,428  

Domino’s Pizza Group PLC

     407,043        1,442,424  

EMIS Group PLC

     24,373        452,040  

Empiric Student Property PLC

     705,866        788,110  

Essentra PLC

     178,244        426,234  

FDM Group Holdings PLC

     67,666        606,576  

Fevertree Drinks PLC

     39,471        626,642  

Firstgroup PLC

     206,131      264,811  

Forterra PLC(b)

     373,920        918,194  

Gamma Communications PLC

     25,250        337,180  

Genuit Group PLC

     173,356        598,025  

Great Portland Estates PLC

     120,441        755,021  

Halfords Group PLC

     215,225        465,169  

Hammerson PLC

     1,833,844        591,579  

Helical PLC

     57,609        213,692  

Hill & Smith PLC

     47,822        793,518  

Hilton Food Group PLC

     68,207        583,595  

Hollywood Bowl Group PLC

     84,407        243,171  

Hunting PLC

     111,384        325,021  

I3 Energy PLC(a)

     1,580,379        357,984  

Ibstock PLC(b)

     669,681        1,428,347  

Impax Asset Management Group PLC

     86,140        849,932  

IntegraFin Holdings PLC

     285,158        959,028  

Jadestone Energy PLC

     400,139        336,431  

James Halstead PLC(a)

     109,949        248,782  

Keller Group PLC

     39,099        328,256  

Learning Technologies Group PLC

     178,031        283,963  

Liontrust Asset Management PLC

     120,922        1,528,033  

Lok’nStore Group PLC(a)

     20,570        185,667  

Mitie Group PLC

     624,901        632,035  

MJ Gleeson PLC(a)

     56,938        304,132  

Moneysupermarket.com Group PLC

     678,918        2,090,226  

Morgan Advanced Materials PLC

     207,992        727,796  

Morgan Sindall Group PLC

     44,916        938,565  

Mortgage Advice Bureau Holdings Ltd.

     17,252        158,278  

NCC Group PLC

     148,269        187,360  

Next Fifteen Communications Group PLC

     28,876        299,197  

Ninety One PLC(a)

     758,389        1,736,639  

Oxford Instruments PLC

     10,568        327,323  

Pagegroup PLC

     494,904        2,792,822  

Pan African Resources PLC

     2,053,710        421,018  

PayPoint PLC

     63,208        355,599  

Pets at Home Group PLC

     416,201        1,898,917  

Premier Foods PLC

     214,973        324,280  

PZ Cussons PLC

     269,055        616,111  

Quilter PLC(b)

     1,674,086        1,744,118  

Redde Northgate PLC

     264,176        1,128,543  

Redrow PLC

     531,870        3,131,637  

Restore PLC(a)

     60,110        200,672  

RWS Holdings PLC

     264,384        977,424  

Savills PLC

     118,741        1,455,694  

Serica Energy PLC

     437,759        1,198,907  

Shaftesbury Capital PLC

     295,576        419,188  

Smart Metering Systems PLC

     94,401        866,078  

Speedy Hire PLC

     580,233        241,415  

Spirent Communications PLC

     256,522        549,667  

SThree PLC

     77,903        401,186  

TBC Bank Group PLC

     32,341        895,732  

Telecom Plus PLC

     64,465        1,506,477  

TP ICAP Group PLC

     810,708        1,805,322  

TT Electronics PLC

     106,903        247,441  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Tyman PLC

     229,578      $ 682,687  

Vertu Motors PLC

     490,596        362,745  

Vesuvius PLC

     249,746        1,277,808  

VIDENDUM PLC

     33,018        361,302  

Volex PLC(a)

     41,724        111,434  

Volution Group PLC

     71,989        383,192  

Watkin Jones PLC

     485,995        533,607  

Wickes Group PLC

     511,515        874,064  

Wincanton PLC

     116,792        311,920  

Workspace Group PLC

     203,275        1,097,850  

XPS Pensions Group PLC

     174,156        344,536  

YouGov PLC

     15,753        177,247  
     

 

 

 
Total United Kingdom

 

     73,479,174  
United States – 0.1%

 

PolyPeptide Group AG*(a)(b)

     8,522        172,670  

TOTAL COMMON STOCKS

(Cost: $247,652,688)

 

 

     247,882,161  
EXCHANGE-TRADED FUND – 0.0%

 

United States – 0.0%

 

WisdomTree International MidCap Dividend Fund(c) (Cost: $61,960)      1,100        64,306  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 11.7%

 

United States – 11.7%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(d)

     
(Cost: $29,380,946)      29,380,946      $ 29,380,946  
TOTAL INVESTMENTS IN SECURITIES – 110.6%
(Cost: $277,095,594)

 

     277,327,413  

Other Assets less Liabilities – (10.6)%

 

     (26,530,095
     

 

 

 
NET ASSETS – 100.0%

 

   $ 250,797,318  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $34,250,422 and the total market value of the collateral held by the Fund was $36,261,394. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $6,880,448.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree International MidCap Dividend Fund

  $ 1,141,154     $ 9,125,044     $ 9,892,178     $ (321,495   $ 11,781     $ 64,306     $ 72,655  

 

FINANCIAL DERIVATIVE INSTRUMENTS                                                 
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)                                                 
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
   

Amount and
Description of
Currency to
be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Goldman Sachs

    4/3/2023       488,225       NOK       43,000       EUR     $     $ (100

Standard Chartered Bank

    4/3/2023       968,979       NOK       75,000       GBP             (213

Standard Chartered Bank

    4/3/2023       191,862       NOK       190,000       SEK             (4

Standard Chartered Bank

    4/3/2023       872,054       NOK       83,500       USD             (234

UBS AG

    4/3/2023       97,214       NOK       8,500       CHF             (22
                                            $     $ (573

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 247,882,161      $      $      $ 247,882,161  

Exchange-Traded Fund

     64,306                      64,306  

Investment of Cash Collateral for Securities Loaned

            29,380,946               29,380,946  

Total Investments in Securities

   $ 247,946,467      $ 29,380,946      $      $ 277,327,413  

Liabilities:

        

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (573    $      $ (573

Total – Net

   $ 247,946,467      $ 29,380,373      $      $ 277,326,840  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Schedule of Investments

WisdomTree International AI Enhanced Value Fund (AIVI)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 95.3%

 

Australia – 7.8%

 

APA Group

     27,208      $ 184,412  

ASX Ltd.(a)

     4,153        180,851  

Aurizon Holdings Ltd.

     825,791        1,858,328  

Lendlease Corp. Ltd.

     36,983        179,083  

Lottery Corp. Ltd.

     63,205        216,738  

National Australia Bank Ltd.

     15,793        293,205  

Sonic Healthcare Ltd.

     65,192        1,521,196  

Transurban Group

     147,493        1,403,713  

Woolworths Group Ltd.(a)

     8,206        208,297  
     

 

 

 
Total Australia

 

     6,045,823  
Belgium – 2.6%

 

Ageas SA/NV

     4,204        182,058  

Groupe Bruxelles Lambert NV

     21,338        1,819,839  
     

 

 

 
Total Belgium

 

     2,001,897  
Finland – 0.2%

 

Sampo Oyj, Class A

     3,903        184,373  
France – 4.8%

 

Arkema SA

     3,806        375,461  

Danone SA

     3,560        221,661  

Eiffage SA

     1,803        195,378  

Orange SA

     16,648        198,091  

Publicis Groupe SA

     24,779        1,932,400  

Societe Generale SA

     6,576        148,498  

Valeo

     14,909        306,302  

Vinci SA

     1,666        191,356  

Vivendi SE

     18,431        186,226  
     

 

 

 
Total France

 

     3,755,373  
Germany – 4.1%

 

HeidelbergCement AG

     34,041        2,487,533  

Mercedes-Benz Group AG

     9,365        720,159  
     

 

 

 
Total Germany

 

     3,207,692  
Hong Kong – 4.2%

 

CK Asset Holdings Ltd.

     106,000        643,431  

CK Infrastructure Holdings Ltd.

     36,000        195,823  

CLP Holdings Ltd.

     31,000        223,912  

Hang Lung Properties Ltd.

     99,000        185,137  

Henderson Land Development Co. Ltd.

     292,000        1,009,917  

Hongkong Land Holdings Ltd.

     41,600        182,624  

Power Assets Holdings Ltd.

     38,500        206,479  

Sino Land Co. Ltd.

     154,000        208,343  

Sun Hung Kai Properties Ltd.

     27,500        385,353  
     

 

 

 
Total Hong Kong

 

     3,241,019  
Italy – 3.6%

 

Eni SpA(a)

     84,955        1,191,216  

Mediobanca Banca di Credito Finanziario SpA

     57,211        576,070  

Snam SpA

     194,951        1,035,512  
     

 

 

 
Total Italy

 

     2,802,798  
Japan – 22.8%

 

AGC, Inc.

     14,600        540,273  

Aisin Corp.(a)

     9,900      271,136  

Asahi Group Holdings Ltd.

     21,600        799,146  

Asahi Kasei Corp.

     51,400        357,741  

Daiwa Securities Group, Inc.(a)

     42,700        199,239  

Honda Motor Co. Ltd.(a)

     24,800        654,054  

Hulic Co. Ltd.

     24,000        196,018  

Inpex Corp.

     130,200        1,366,665  

ITOCHU Corp.(a)

     6,500        210,057  

Japan Post Insurance Co. Ltd.

     16,100        250,047  

Kao Corp.

     6,300        244,587  

Kirin Holdings Co. Ltd.

     12,800        201,584  

Kyocera Corp.

     3,900        201,842  

Lixil Corp.

     12,000        196,288  

MEIJI Holdings Co. Ltd.(a)

     8,400        199,128  

Mitsubishi Corp.

     7,000        249,883  

Mitsubishi Electric Corp.

     91,100        1,080,482  

Mitsubishi Estate Co. Ltd.

     17,700        209,663  

Mitsubishi HC Capital, Inc.

     45,600        234,356  

Mitsui & Co. Ltd.

     6,700        207,207  

Mitsui Fudosan Co. Ltd.

     12,200        227,702  

MS&AD Insurance Group Holdings, Inc.

     6,700        206,704  

NEC Corp.

     6,300        241,416  

NGK Insulators Ltd.(a)

     14,600        192,195  

Nissan Chemical Corp.(a)

     4,400        198,031  

Nissan Motor Co. Ltd.(a)

     204,000        768,085  

Nitto Denko Corp.

     3,700        237,696  

Nomura Real Estate Holdings, Inc.

     51,700        1,138,185  

Ono Pharmaceutical Co. Ltd.

     12,600        261,676  

ORIX Corp.

     14,900        243,669  

Otsuka Corp.

     50,700        1,784,728  

SCSK Corp.

     13,200        191,915  

Secom Co. Ltd.

     3,200        196,294  

Shimizu Corp.(a)

     58,900        331,918  

Sompo Holdings, Inc.(a)

     9,200        363,051  

Subaru Corp.

     11,900        189,064  

Sumitomo Realty & Development Co. Ltd.

     15,100        338,329  

Takeda Pharmaceutical Co. Ltd.

     19,300        630,814  

Tosoh Corp.

     136,300        1,840,342  

Yamato Holdings Co. Ltd.

     15,600        265,958  
     

 

 

 
Total Japan

 

     17,717,168  
Netherlands – 7.1%

 

JDE Peet’s NV

     42,371        1,234,631  

Koninklijke Philips NV

     146,966        2,688,224  

NN Group NV

     24,091        875,771  

OCI NV

     10,169        345,364  

Randstad NV(a)

     3,093        183,477  

Wolters Kluwer NV

     1,642        207,563  
     

 

 

 
Total Netherlands

 

     5,535,030  
Norway – 4.0%

 

DNB Bank ASA

     62,076        1,110,458  

Gjensidige Forsikring ASA(a)

     22,772        372,463  

Orkla ASA

     28,195        199,918  

Telenor ASA

     124,733        1,461,338  
     

 

 

 
Total Norway

 

     3,144,177  

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International AI Enhanced Value Fund (AIVI)

March 31, 2023

 

 

 

Investments    Shares      Value  
Singapore – 1.4%

 

CapitaLand Investment Ltd.

     71,200      $ 197,071  

City Developments Ltd.

     48,800        270,510  

Oversea-Chinese Banking Corp. Ltd.

     41,600        387,042  

UOL Group Ltd.

     37,600        195,982  
     

 

 

 
Total Singapore

 

     1,050,605  
Spain – 4.2%

 

ACS Actividades de Construccion y Servicios SA

     7,566        241,259  

Enagas SA

     129,634        2,492,883  

Red Electrica Corp. SA

     13,520        237,959  

Repsol SA

     19,207        296,005  
     

 

 

 
Total Spain

 

     3,268,106  
Sweden – 0.5%

 

Essity AB, Class B(a)

     7,022        200,715  

Tele2 AB, Class B

     20,626        205,374  
     

 

 

 
Total Sweden

 

     406,089  
Switzerland – 8.5%

 

Baloise Holding AG, Registered Shares

     2,146        334,509  

EMS-Chemie Holding AG, Registered Shares

     251        207,163  

Geberit AG, Registered Shares

     1,008        561,845  

Holcim AG, Registered Shares*

     31,392        2,023,960  

SGS SA, Registered Shares

     83        182,708  

Swiss Prime Site AG, Registered Shares

     9,805        816,234  

Swiss Re AG

     22,095        2,269,602  

Temenos AG, Registered Shares

     2,578        178,573  
     

 

 

 
Total Switzerland

 

     6,574,594  
United Kingdom – 17.5%

 

Aviva PLC

     450,564        2,251,798  

BAE Systems PLC

     36,155        439,260  

British American Tobacco PLC

     38,359        1,347,220  

Bunzl PLC

     5,310        200,709  

CK Hutchison Holdings Ltd.

     51,000        316,397  

Imperial Brands PLC

     40,063        923,349  

J. Sainsbury PLC

     58,682        202,217  

Legal & General Group PLC

     61,502        181,669  

M&G PLC

     902,630        2,209,793  

Phoenix Group Holdings PLC

     305,578      2,064,474  

Reckitt Benckiser Group PLC

     4,909        373,774  

RELX PLC

     6,837        221,315  

Schroders PLC

     291,792        1,659,617  

Shell PLC

     6,840        195,237  

Taylor Wimpey PLC

     280,520        412,577  

United Utilities Group PLC

     48,374        634,008  
     

 

 

 
Total United Kingdom

 

     13,633,414  
United States – 2.0%

 

GSK PLC

     88,040        1,555,567  
TOTAL COMMON STOCKS
(Cost: $76,159,793)

 

     74,123,725  
PREFERRED STOCK – 2.7%

 

Germany – 2.7%

 

Henkel AG & Co. KGaA
(Cost: $2,535,302)
     26,907        2,106,538  
EXCHANGE-TRADED FUND – 0.5%

 

United States – 0.5%

 

iShares MSCI EAFE Value ETF
(Cost: $373,178)
     7,936        385,134  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 4.5%

 

United States – 4.5%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $3,481,984)      3,481,984        3,481,984  
TOTAL INVESTMENTS IN SECURITIES – 103.0%
(Cost: $82,550,257)

 

     80,097,381  

Other Assets less Liabilities – (3.0)%

 

     (2,312,661
     

 

 

 
NET ASSETS – 100.0%

 

   $ 77,784,720  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $5,165,534 and the total market value of the collateral held by the Fund was $5,472,739. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,990,755.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
   

Amount and
Description of
Currency to
be Purchased

   

Amount and
Description of
Currency to
be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Morgan Stanley & Co. International

    4/4/2023       45,652       USD       68,000       AUD     $ 110     $  

Morgan Stanley & Co. International

    4/4/2023       30,648       USD       28,000       CHF             (2

Standard Chartered Bank

    4/4/2023       55,231       USD       7,350,000       JPY       5        
                                            $ 115     $ (2

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Schedule of Investments (concluded)

WisdomTree International AI Enhanced Value Fund (AIVI)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 74,123,725      $      $      $ 74,123,725  

Preferred Stock

     2,106,538                      2,106,538  

Exchange-Traded Fund

     385,134                      385,134  

Investment of Cash Collateral for Securities Loaned

            3,481,984               3,481,984  

Total Investments in Securities

   $ 76,615,397      $ 3,481,984      $      $ 80,097,381  

Financial Derivative Instruments

 

     

Foreign Currency Contracts1

   $      $ 115      $      $ 115  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (2    $      $ (2

Total – Net

   $ 76,615,397      $ 3,482,097      $      $ 80,097,494  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Schedule of Investments

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.9%

 

Australia – 12.5%

 

Abacus Property Group

     77,206      $ 134,443  

AGL Energy Ltd.

     28,954        156,105  

ALS Ltd.

     13,804        114,271  

Ampol Ltd.

     16,163        330,059  

ANZ Group Holdings Ltd.

     186,671        2,866,776  

APA Group

     60,789        412,020  

Aristocrat Leisure Ltd.

     7,919        197,300  

ASX Ltd.(a)

     8,016        349,074  

AUB Group Ltd.

     4,431        75,705  

Aurizon Holdings Ltd.

     103,752        233,479  

Australian Clinical Labs Ltd.(a)

     37,808        89,386  

Bank of Queensland Ltd.(a)

     31,628        137,477  

Bapcor Ltd.

     21,690        92,681  

Bendigo & Adelaide Bank Ltd.(a)

     30,469        176,925  

BHP Group Ltd.

     675,449        21,366,007  

BlueScope Steel Ltd.

     12,513        168,869  

Brambles Ltd.

     31,620        284,414  

Brickworks Ltd.

     9,847        149,377  

BWP Trust

     33,665        85,228  

carsales.com Ltd.

     13,147        194,859  

Challenger Ltd.

     18,325        76,585  

Champion Iron Ltd.(a)

     22,659        108,356  

Charter Hall Group

     20,685        152,392  

Charter Hall Long Wale REIT

     58,049        162,900  

Cochlear Ltd.

     800        126,818  

Coles Group Ltd.

     61,175        738,315  

Commonwealth Bank of Australia

     74,196        4,885,795  

Computershare Ltd.

     9,967        144,122  

Cromwell Property Group

     365,275        135,777  

CSL Ltd.

     4,580        884,347  

CSR Ltd.

     45,711        145,421  

Deterra Royalties Ltd.

     44,130        141,869  

Dexus

     73,316        368,767  

Downer EDI Ltd.

     36,790        84,516  

Eagers Automotive Ltd.

     14,569        131,630  

Elders Ltd.(a)

     13,871        80,174  

Endeavour Group Ltd.(a)

     35,194        159,577  

First Resources Ltd.

     110,800        130,838  

Goodman Group

     33,293        418,979  

GPT Group

     90,067        255,767  

Growthpoint Properties Australia Ltd.

     94,965        193,353  

GUD Holdings Ltd.(a)

     8,966        58,789  

Harvey Norman Holdings Ltd.(a)

     102,950        246,844  

Helia Group Ltd.

     54,822        105,378  

HomeCo Daily Needs REIT

     119,265        92,259  

Iluka Resources Ltd.

     13,459        95,730  

Incitec Pivot Ltd.

     110,360        231,350  

Insignia Financial Ltd.

     49,463        90,770  

Insurance Australia Group Ltd.

     50,805        159,585  

IVE Group Ltd.

     49,321        81,591  

JB Hi-Fi Ltd.

     10,888        309,701  

Lendlease Corp. Ltd.(a)

     21,606        104,623  

Lovisa Holdings Ltd.

     5,573      90,476  

Macquarie Group Ltd.

     10,877        1,279,661  

McMillan Shakespeare Ltd.(a)

     9,480        91,429  

Medibank Pvt Ltd.

     150,419        338,497  

Metcash Ltd.(a)

     71,291        183,827  

Mineral Resources Ltd.

     1,906        102,877  

Mirvac Group(a)

     214,156        298,336  

Monadelphous Group Ltd.(a)

     9,000        75,648  

National Australia Bank Ltd.

     155,015        2,877,927  

Navigator Global Investments Ltd.

     114,577        80,575  

New Hope Corp. Ltd.(a)

     70,138        266,818  

Nine Entertainment Co. Holdings Ltd.(a)

     109,084        143,926  

Northern Star Resources Ltd.

     18,883        155,683  

NRW Holdings Ltd.

     53,008        85,205  

Origin Energy Ltd.

     74,130        411,587  

Orora Ltd.

     46,967        107,580  

OZ Minerals Ltd.

     4,939        92,985  

Premier Investments Ltd.

     7,046        123,120  

QBE Insurance Group Ltd.

     32,445        317,041  

Qube Holdings Ltd.(a)

     87,045        167,316  

REA Group Ltd.(a)

     1,681        155,401  

Reece Ltd.(a)

     8,881        103,199  

Region RE Ltd.

     65,464        103,035  

Rio Tinto Ltd.

     133,414        9,425,518  

Santos Ltd.

     83,123        384,134  

Scentre Group

     213,140        392,564  

SEEK Ltd.

     8,945        143,303  

Seven Group Holdings Ltd.(a)

     15,011        232,239  

Sims Ltd.

     18,080        187,812  

SmartGroup Corp. Ltd.(a)

     28,766        123,495  

Sonic Healthcare Ltd.

     17,371        405,337  

South32 Ltd.

     507,438        1,485,174  

Stockland

     210,237        560,409  

Suncorp Group Ltd.

     37,887        307,289  

Super Retail Group Ltd.

     20,526        172,528  

Telstra Group Ltd.

     638,166        1,803,678  

TPG Telecom Ltd.(a)

     53,152        173,721  

Transurban Group

     75,866        722,028  

Treasury Wine Estates Ltd.

     14,325        125,396  

Vicinity Ltd.

     250,630        326,487  

Viva Energy Group Ltd.(b)

     107,396        217,943  

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

     11,350        229,570  

Waypoint REIT Ltd.

     39,854        69,133  

Wesfarmers Ltd.

     38,851        1,307,528  

Westpac Banking Corp.

     132,817        1,926,748  

Whitehaven Coal Ltd.

     51,963        234,219  

Woodside Energy Group Ltd.

     133,716        2,985,808  

Woolworths Group Ltd.

     26,138        663,475  

Worley Ltd.

     24,177        233,335  
     

 

 

 
Total Australia

 

     71,208,393  
Austria – 0.6%

 

Andritz AG

     5,114        346,145  

BAWAG Group AG*(b)

     6,507        315,725  

Erste Group Bank AG

     19,539        647,458  

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Lenzing AG

     2,227      $ 168,157  

Oesterreichische Post AG

     4,632        171,354  

OMV AG

     15,081        692,420  

Semperit AG Holding

     1,956        52,702  

Telekom Austria AG*

     35,998        271,815  

Verbund AG

     1,506        130,896  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     6,202        166,770  

Voestalpine AG

     6,492        220,625  

Wienerberger AG

     1,649        47,727  
     

 

 

 
Total Austria

 

     3,231,794  
Belgium – 1.1%

 

Ackermans & van Haaren NV

     643        106,185  

Aedifica SA

     2,251        181,219  

Ageas SA/NV

     14,710        637,030  

Anheuser-Busch InBev SA

     13,781        918,255  

Bekaert SA

     2,468        111,545  

bpost SA

     15,073        85,892  

Cofinimmo SA

     2,042        180,921  

D’ieteren Group

     560        108,845  

Elia Group SA/NV

     775        102,387  

Etablissements Franz Colruyt NV

     4,628        135,356  

Groupe Bruxelles Lambert NV

     2,924        249,377  

KBC Group NV

     23,628        1,624,951  

Melexis NV

     1,314        151,896  

Proximus SADP

     25,224        243,737  

Solvay SA

     3,512        401,975  

UCB SA

     2,611        233,859  

Umicore SA

     3,999        135,599  

VGP NV

     1,855        165,663  

Warehouses De Pauw CVA

     7,566        224,573  
     

 

 

 
Total Belgium

 

     5,999,265  
Burkina Faso – 0.0%

 

Endeavour Mining PLC

     7,525        185,900  
China – 0.5%

 

BOC Hong Kong Holdings Ltd.

     531,944        1,656,830  

Prosus NV*

     5,053        394,938  

Wilmar International Ltd.

     230,700        730,508  
     

 

 

 
Total China

 

     2,782,276  
Denmark – 1.4%

 

Alm Brand A/S

     67,306        125,845  

AP Moller – Maersk A/S, Class B

     600        1,089,032  

Carlsberg A/S, Class B

     2,188        339,215  

Chr Hansen Holding A/S

     1,279        97,186  

Coloplast A/S, Class B

     3,833        504,131  

D/S Norden A/S

     3,944        265,290  

DSV A/S

     1,450        280,524  

Novo Nordisk A/S, Class B

     18,601        2,945,645  

Novozymes A/S, Class B

     3,477        177,944  

Orsted A/S(b)

     5,808        494,182  

Pandora A/S

     3,824        365,526  

Royal Unibrew A/S

     1,875        163,530  

Scandinavian Tobacco Group A/S(b)

     8,130        161,496  

Schouw & Co. A/S

     1,504      126,128  

Sydbank A/S

     3,794        170,871  

Topdanmark A/S*

     6,079        325,204  

Tryg A/S

     18,002        393,565  
     

 

 

 
Total Denmark

 

     8,025,314  
Finland – 1.5%

 

Anora Group Oyj(a)

     7,487        45,064  

Cargotec Oyj, Class B

     2,440        118,709  

Elisa Oyj

     9,389        566,750  

Fortum Oyj*

     50,484        774,184  

Huhtamaki Oyj

     1,905        70,783  

Kesko Oyj, Class B

     18,277        393,269  

Kojamo Oyj

     5,550        65,423  

Kone Oyj, Class B

     14,929        778,541  

Konecranes Oyj

     4,880        163,510  

Metsa Board Oyj, Class B(a)

     22,712        183,092  

Metso Outotec Oyj

     20,429        222,839  

Neste Oyj

     11,307        558,084  

Nokia Oyj

     28,361        139,135  

Nordea Bank Abp(a)

     188,861        2,015,091  

Orion Oyj, Class B

     3,936        176,139  

Sampo Oyj, Class A

     22,643        1,069,629  

Stora Enso Oyj, Class R

     15,366        199,999  

TietoEVRY Oyj

     3,770        118,454  

UPM-Kymmene Oyj*

     16,691        561,245  

Valmet Oyj(a)

     10,854        351,883  
     

 

 

 
Total Finland

 

     8,571,823  
France – 11.3%

 

Air Liquide SA

     7,859        1,316,623  

Airbus SE

     7,862        1,053,017  

ALD SA(b)

     38,313        449,552  

Alten SA

     788        125,764  

Arkema SA

     2,703        266,650  

AXA SA

     155,024        4,743,713  

BNP Paribas SA

     66,860        4,010,457  

Bollore SE(a)

     40,440        249,996  

Bouygues SA

     16,902        570,911  

Bureau Veritas SA

     7,354        211,489  

Capgemini SE

     2,599        482,144  

Carrefour SA

     19,089        386,372  

Cie de Saint-Gobain

     13,776        783,070  

Cie Generale des Etablissements Michelin SCA

     20,418        624,344  

Coface SA

     17,584        249,309  

Danone SA

     18,566        1,156,002  

Dassault Aviation SA

     995        197,394  

Dassault Systemes SE

     6,834        281,214  

Edenred

     4,780        283,239  

Eiffage SA

     3,828        414,812  

Engie SA

     169,685        2,686,779  

Eramet SA

     1,401        146,428  

EssilorLuxottica SA

     4,966        895,621  

Eurazeo SE

     1,785        127,025  

Gaztransport Et Technigaz SA

     1,294        132,433  

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Gecina SA

     4,056      $ 421,054  

Hermes International

     595        1,204,960  

Imerys SA

     2,997        129,592  

Ipsen SA

     1,080        119,097  

IPSOS

     3,115        193,243  

Kering SA

     2,282        1,487,567  

Klepierre SA(a)

     17,979        407,269  

L’Oreal SA

     8,552        3,821,055  

La Francaise des Jeux SAEM(b)

     8,507        354,817  

Legrand SA

     5,023        458,845  

LVMH Moet Hennessy Louis Vuitton SE

     9,566        8,775,832  

Metropole Television SA(a)

     13,618        221,189  

Nexans SA

     448        44,536  

Orange SA

     203,654        2,423,238  

Pernod Ricard SA

     6,002        1,360,906  

Publicis Groupe SA

     7,790        607,506  

Remy Cointreau SA

     837        152,772  

Rexel SA*

     12,051        287,387  

Rothschild & Co.

     5,164        261,165  

Rubis SCA

     6,174        165,480  

Sanofi

     36,494        3,974,406  

Sartorius Stedim Biotech

     307        94,058  

Schneider Electric SE

     9,801        1,636,430  

Societe Generale SA

     43,299        977,772  

Sodexo SA

     1,245        121,818  

Sopra Steria Group SACA

     733        153,938  

SPIE SA

     6,168        179,191  

Teleperformance

     480        115,616  

Television Francaise 1(a)

     17,072        150,887  

Thales SA

     4,990        739,206  

TotalEnergies SE(a)

     139,614        8,245,521  

Valeo

     5,621        115,482  

Veolia Environnement SA

     21,456        662,029  

Verallia SA(b)

     4,005        171,003  

Vinci SA

     15,377        1,766,194  

Vivendi SE

     33,527        338,756  

Wendel SE

     2,159        228,349  
     

 

 

 
Total France

 

     64,412,524  
Georgia – 0.0%

 

Bank of Georgia Group PLC

     3,609        122,715  
Germany – 8.2%

 

adidas AG

     4,346        768,600  

Allianz SE, Registered Shares

     17,697        4,091,485  

AURELIUS Equity Opportunities SE & Co. KGaA

     3,408        54,984  

Aurubis AG

     1,305        120,600  

BASF SE

     47,492        2,495,264  

Bayer AG, Registered Shares

     28,434        1,813,985  

Bayerische Motoren Werke AG

     30,328        3,325,958  

Beiersdorf AG

     1,603        208,902  

Bilfinger SE

     3,052        129,650  

Brenntag SE

     4,055        304,864  

Dermapharm Holding SE

     2,663        109,306  

Deutsche Bank AG, Registered Shares

     32,527        330,631  

Deutsche Boerse AG

     3,068      598,148  

Deutsche Post AG, Registered Shares

     45,447        2,127,607  

Deutsche Telekom AG, Registered Shares

     190,437        4,624,221  

Deutz AG

     26,275        170,565  

DWS Group GmbH & Co. KGaA(b)

     13,445        413,679  

E.ON SE

     112,501        1,405,607  

Evonik Industries AG

     18,755        394,486  

Fielmann AG

     2,761        115,128  

Freenet AG

     9,461        246,180  

GEA Group AG

     2,963        135,043  

Hannover Rueck SE

     4,806        941,694  

Hapag-Lloyd AG(a)(b)

     13,340        4,376,959  

HeidelbergCement AG

     7,404        541,044  

Henkel AG & Co. KGaA

     5,265        383,251  

Hochtief AG

     2,653        221,538  

Hornbach Holding AG & Co. KGaA

     1,031        82,498  

Infineon Technologies AG

     11,590        474,465  

Kloeckner & Co. SE

     11,137        119,848  

Mercedes-Benz Group AG

     65,204        5,014,117  

Merck KGaA

     1,563        291,313  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     4,411        1,545,527  

Mutares SE & Co. KGaA

     5,276        112,464  

Puma SE

     2,978        183,968  

Rheinmetall AG

     682        202,726  

RWE AG

     12,998        559,783  

SAP SE

     17,307        2,182,298  

Siemens Healthineers AG(b)

     15,718        905,413  

Siltronic AG

     2,295        167,557  

Sixt SE

     1,268        168,896  

Stroeer SE & Co. KGaA

     2,258        119,373  

Suedzucker AG

     6,929        116,534  

Symrise AG

     1,669        181,691  

Talanx AG

     13,058        605,779  

Telefonica Deutschland Holding AG

     180,562        556,539  

United Internet AG, Registered Shares

     3,186        54,933  

Vantage Towers AG

     7,566        278,003  

Varta AG

     4,693        128,742  

Volkswagen AG

     9,753        1,674,191  

Wacker Chemie AG

     2,593        420,884  

Wacker Neuson SE

     1,245        26,092  
     

 

 

 
Total Germany

 

     46,623,013  
Hong Kong – 3.2%

 

AIA Group Ltd.

     217,165        2,286,472  

Bank of East Asia Ltd.(a)

     128,400        163,241  

Champion REIT(a)

     485,000        208,211  

CLP Holdings Ltd.

     101,500        733,132  

Dah Sing Banking Group Ltd.

     223,600        171,190  

Dah Sing Financial Holdings Ltd.

     33,200        85,221  

Fortune Real Estate Investment Trust

     218,000        180,511  

Hang Lung Group Ltd.

     111,000        195,983  

Hang Lung Properties Ltd.

     228,000        426,377  

Hang Seng Bank Ltd.

     57,300        815,344  

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Henderson Land Development Co. Ltd.

     306,859      $ 1,061,309  

Hong Kong & China Gas Co. Ltd.

     712,570        627,247  

Hong Kong Exchanges & Clearing Ltd.

     32,129        1,425,145  

Hutchison Port Holdings Trust

     997,600        186,551  

Hysan Development Co. Ltd.

     74,000        210,218  

Link REIT(a)

     172,773        1,111,477  

MTR Corp. Ltd.

     278,053        1,340,684  

New World Development Co. Ltd.

     213,000        571,169  

PCCW Ltd.

     1,167,000        582,760  

Power Assets Holdings Ltd.

     179,500        962,675  

Singamas Container Holdings Ltd.

     520,000        41,070  

Sino Land Co. Ltd.

     494,755        669,342  

Sun Hung Kai Properties Ltd.

     181,000        2,536,322  

Swire Pacific Ltd., Class A

     29,500        226,607  

Swire Pacific Ltd., Class B

     207,500        256,667  

Swire Properties Ltd.

     252,600        650,007  

Techtronic Industries Co. Ltd.

     31,000        335,079  
     

 

 

 
Total Hong Kong

 

     18,060,011  
Indonesia – 0.0%

 

Bumitama Agri Ltd.(a)

     144,600        61,449  

Nickel Industries Ltd.

     164,913        99,405  
     

 

 

 
Total Indonesia

 

     160,854  
Ireland – 0.3%

 

AIB Group PLC

     29,665        120,603  

CRH PLC

     21,816        1,101,550  

Glanbia PLC

     10,308        149,620  

Kerry Group PLC, Class A

     1,494        149,071  

Kingspan Group PLC

     1,551        106,228  

Smurfit Kappa Group PLC

     8,662        313,663  
     

 

 

 
Total Ireland

 

     1,940,735  
Israel – 0.7%

 

Alony Hetz Properties & Investments Ltd.

     8,947        69,699  

Amot Investments Ltd.

     25,175        127,460  

Ashtrom Group Ltd.

     5,435        81,510  

Azrieli Group Ltd.

     2,506        143,234  

Bank Hapoalim BM

     37,314        308,303  

Bank Leumi Le-Israel BM

     88,595        664,343  

Bezeq The Israeli Telecommunication Corp. Ltd.

     124,100        168,401  

Delek Automotive Systems Ltd.

     10,223        94,858  

Elbit Systems Ltd.

     744        125,837  

FIBI Holdings Ltd.

     2,756        102,949  

First International Bank of Israel Ltd.

     3,091        108,595  

Gav-Yam Lands Corp. Ltd.

     13,207        96,284  

Harel Insurance Investments & Financial Services Ltd.

     10,464        87,766  

ICL Group Ltd.

     118,818        796,267  

Israel Discount Bank Ltd., Class A

     31,876        155,367  

Mehadrin Ltd.*

     0        3  

Mizrahi Tefahot Bank Ltd.

     10,232        318,840  

Oil Refineries Ltd.

     239,243        65,182  

Phoenix Holdings Ltd.

     12,446        123,055  

Plus500 Ltd.(a)

     8,399        175,713  

Strauss Group Ltd.*

     7,731      174,023  
     

 

 

 
Total Israel

 

     3,987,689  
Italy – 2.4%

 

A2A SpA(a)

     196,199        313,346  

ACEA SpA

     13,468        184,367  

Amplifon SpA(a)

     2,382        82,658  

Anima Holding SpA(b)

     56,423        229,633  

Assicurazioni Generali SpA

     70,689        1,411,585  

Azimut Holding SpA(a)

     8,212        175,762  

Banca Generali SpA(a)

     4,986        159,153  

Banca Mediolanum SpA

     40,512        367,871  

Banca Popolare di Sondrio SpA

     23,875        101,525  

Banco BPM SpA(a)

     78,056        305,718  

BPER Banca(a)

     51,506        127,194  

Credito Emiliano SpA

     34,605        256,409  

Cromwell European Real Estate Investment Trust

     68,800        112,869  

De’ Longhi SpA

     6,200        141,860  

DiaSorin SpA(a)

     316        33,322  

Eni SpA(a)

     195,289        2,738,288  

ERG SpA

     8,652        262,823  

Ferrari NV

     1,510        408,986  

FinecoBank Banca Fineco SpA

     12,536        192,583  

Hera SpA

     46,265        130,789  

Infrastrutture Wireless Italiane SpA(b)

     30,248        398,299  

Iren SpA

     81,211        155,729  

Italgas SpA(a)

     72,890        445,451  

Mediobanca Banca di Credito Finanziario SpA

     64,667        651,146  

Moncler SpA

     2,262        156,153  

Piaggio & C. SpA

     42,790        182,796  

Poste Italiane SpA(b)

     68,579        701,266  

Recordati Industria Chimica e Farmaceutica SpA

     6,384        270,223  

Snam SpA

     218,667        1,161,483  

Terna – Rete Elettrica Nazionale

     95,127        781,952  

Unieuro SpA(a)(b)

     3,050        35,986  

Unipol Gruppo SpA

     26,973        138,934  

UnipolSai Assicurazioni SpA(a)

     286,422        724,434  
     

 

 

 
Total Italy

 

     13,540,593  
Japan – 19.2%

 

77 Bank Ltd.(a)

     5,500        89,346  

ABC-Mart, Inc.

     1,400        77,001  

ADEKA Corp.(a)

     7,600        128,941  

Advantest Corp.(a)

     3,900        356,330  

Aeon Co. Ltd.

     12,300        237,146  

Aeon Delight Co. Ltd.

     6,100        139,334  

Aeon Mall Co. Ltd.(a)

     8,700        113,546  

AGC, Inc.

     10,600        392,253  

Air Water, Inc.

     12,400        154,662  

Aisin Corp.(a)

     11,300        309,479  

Ajinomoto Co., Inc.(a)

     7,600        263,022  

Amada Co. Ltd.

     18,200        169,296  

Aozora Bank Ltd.(a)

     11,400        205,490  

Asahi Group Holdings Ltd.

     11,100        410,672  

Asahi Holdings, Inc.(a)

     6,000        91,156  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Asahi Kasei Corp.

     39,300      $ 273,526  

Astellas Pharma, Inc.

     40,300        570,177  

Azbil Corp.(a)

     2,500        67,811  

Bandai Namco Holdings, Inc.

     16,500        353,146  

Benesse Holdings, Inc.

     800        11,661  

Bridgestone Corp.

     18,000        725,870  

Brother Industries Ltd.

     4,100        61,366  

Canon Marketing Japan, Inc.

     4,200        99,406  

Canon, Inc.

     30,100        668,424  

Capcom Co. Ltd.

     2,700        96,059  

Casio Computer Co. Ltd.(a)

     13,100        127,762  

Central Japan Railway Co.

     900        106,913  

Chiba Bank Ltd.

     22,600        145,187  

Chubu Electric Power Co., Inc.

     27,300        286,969  

Chugai Pharmaceutical Co. Ltd.

     42,100        1,034,390  

Citizen Watch Co. Ltd.(a)

     18,400        107,560  

CKD Corp.

     6,100        98,542  

Concordia Financial Group Ltd.(a)

     64,900        237,968  

Cosmo Energy Holdings Co. Ltd.

     6,700        215,715  

Dai Nippon Printing Co. Ltd.

     7,100        197,652  

Dai-ichi Life Holdings, Inc.(a)

     30,933        565,947  

Daicel Corp.

     28,200        211,887  

Daido Steel Co. Ltd.(a)

     2,200        85,957  

Daiichi Sankyo Co. Ltd.

     9,000        326,080  

Daiichikosho Co. Ltd.(a)

     11,200        183,791  

Daikin Industries Ltd.

     3,200        568,758  

Daishi Hokuetsu Financial Group, Inc.(a)

     11,900        258,404  

Daito Trust Construction Co. Ltd.

     3,700        366,692  

Daiwa House Industry Co. Ltd.

     22,100        517,089  

Daiwa Securities Group, Inc.(a)

     83,900        391,479  

DCM Holdings Co. Ltd.

     17,800        154,474  

Denka Co. Ltd.

     3,100        63,705  

Denso Corp.

     16,100        900,385  

Dentsu Group, Inc.

     7,000        244,571  

DIC Corp.

     4,400        78,684  

Disco Corp.

     3,000        344,879  

Doshisha Co. Ltd.(a)

     19,600        285,407  

Doutor Nichires Holdings Co. Ltd.

     9,900        140,812  

Dowa Holdings Co. Ltd.

     2,100        66,981  

East Japan Railway Co.

     3,000        165,339  

Ebara Corp.

     3,200        147,389  

EDION Corp.(a)

     12,300        118,481  

Eisai Co. Ltd.(a)

     4,300        242,446  

Electric Power Development Co. Ltd.

     8,500        136,100  

ENEOS Holdings, Inc.

     158,500        554,018  

Exedy Corp.

     11,400        155,295  

FANUC Corp.

     21,500        768,953  

Fast Retailing Co. Ltd.

     2,400        520,790  

Fuji Electric Co. Ltd.

     5,300        207,078  

FUJIFILM Holdings Corp.

     9,000        452,942  

Fujitec Co. Ltd.(a)

     5,300        130,818  

Fujitsu Ltd.

     3,100        415,422  

Fukuoka Financial Group, Inc.

     11,500        220,253  

Furukawa Battery Co. Ltd.(a)

     6,400        51,406  

Furuya Metal Co. Ltd.

     100      6,830  

G-Tekt Corp.(a)

     14,600        157,091  

Goldcrest Co. Ltd.(a)

     8,500        109,084  

GS Yuasa Corp.(a)

     4,400        78,750  

Gunze Ltd.(a)

     5,200        175,235  

H.U. Group Holdings, Inc.(a)

     4,900        98,155  

Hachijuni Bank Ltd.

     57,400        247,990  

Hakuhodo DY Holdings, Inc.(a)

     9,400        105,590  

Hamamatsu Photonics KK

     2,100        112,187  

Hankyu Hanshin Holdings, Inc.

     5,900        173,999  

Haseko Corp.

     25,200        291,403  

Heiwa Corp.

     16,300        321,983  

Hioki EE Corp.

     2,000        129,837  

Hirose Electric Co. Ltd.

     2,100        272,500  

Hisamitsu Pharmaceutical Co., Inc.

     4,300        122,128  

Hitachi Construction Machinery Co. Ltd.

     6,700        154,801  

Hitachi Ltd.

     16,300        888,178  

Honda Motor Co. Ltd.(a)

     51,800        1,366,128  

Hoya Corp.

     3,100        339,139  

Hulic Co. Ltd.

     17,500        142,930  

Ichibanya Co. Ltd.(a)

     3,700        140,116  

Idemitsu Kosan Co. Ltd.(a)

     13,951        303,989  

IHI Corp.

     5,100        127,222  

Iida Group Holdings Co. Ltd.(a)

     7,200        116,799  

Iino Kaiun Kaisha Ltd.

     15,100        113,911  

Information Services International-Dentsu Ltd.

     2,600        101,585  

INFRONEER Holdings, Inc.

     25,900        198,886  

Inpex Corp.

     51,000        535,330  

Isetan Mitsukoshi Holdings Ltd.(a)

     12,400        138,078  

Isuzu Motors Ltd.

     21,800        258,639  

ITOCHU Corp.(a)

     45,100        1,457,473  

IwaiCosmo Holdings, Inc.(a)

     20,000        201,368  

Izumi Co. Ltd.

     4,600        108,701  

Japan Exchange Group, Inc.(a)

     14,200        215,363  

Japan Metropolitan Fund Invest

     155        112,619  

Japan Post Holdings Co. Ltd.

     140,200        1,134,009  

Japan Post Insurance Co. Ltd.

     18,100        281,108  

Japan Tobacco, Inc.

     92,244        1,939,280  

Joshin Denki Co. Ltd.(a)

     11,300        165,904  

JTEKT Corp.(a)

     17,000        130,416  

K’s Holdings Corp.

     11,100        96,997  

Kajima Corp.

     17,200        206,519  

Kaken Pharmaceutical Co. Ltd.

     5,800        161,026  

Kamigumi Co. Ltd.

     4,500        93,997  

Kaneka Corp.

     3,800        98,505  

Kansai Electric Power Co., Inc.

     34,200        331,747  

Kao Corp.

     10,200        395,998  

Kawasaki Kisen Kaisha Ltd.(a)

     22,200        504,583  

KDDI Corp.

     78,500        2,414,160  

Keyence Corp.

     1,100        532,685  

Kikkoman Corp.(a)

     1,600        81,028  

Kirin Holdings Co. Ltd.

     31,100        489,786  

Kobe Steel Ltd.(a)

     28,800        227,864  

Koei Tecmo Holdings Co. Ltd.(a)

     7,600        136,365  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Komatsu Ltd.

     27,200      $ 669,730  

Konami Group Corp.(a)

     2,800        127,703  

Konica Minolta, Inc.(a)

     21,500        91,919  

Kurabo Industries Ltd.(a)

     6,000        113,472  

Kuraray Co. Ltd.

     9,500        86,870  

Kyowa Kirin Co. Ltd.

     9,600        208,172  

Kyudenko Corp.(a)

     4,800        121,361  

Kyushu Financial Group, Inc.(a)

     35,500        127,233  

Kyushu Railway Co.(a)

     8,000        177,264  

Lawson, Inc.

     2,300        96,949  

Lintec Corp.

     4,500        73,202  

Macnica Holdings, Inc.

     6,600        186,460  

Marubeni Corp.

     98,100        1,323,454  

Maruichi Steel Tube Ltd.(a)

     7,200        157,427  

Matsui Securities Co. Ltd.(a)

     22,100        130,020  

Mazda Motor Corp.

     18,800        173,041  

Medipal Holdings Corp.

     6,700        90,817  

MEIJI Holdings Co. Ltd.(a)

     11,200        265,505  

Mitsubishi Chemical Group Corp.

     51,700        305,212  

Mitsubishi Corp.

     62,400        2,227,533  

Mitsubishi Electric Corp.

     41,400        491,020  

Mitsubishi Estate Co. Ltd.

     22,400        265,336  

Mitsubishi Gas Chemical Co., Inc.

     12,100        178,468  

Mitsubishi Heavy Industries Ltd.(a)

     7,400        271,113  

Mitsubishi Logistics Corp.(a)

     3,700        86,460  

Mitsubishi Materials Corp.(a)

     9,600        155,588  

Mitsubishi UFJ Financial Group, Inc.

     444,100        2,829,306  

Mitsuboshi Belting Ltd.(a)

     3,700        109,396  

Mitsui & Co. Ltd.

     66,300        2,050,423  

Mitsui Chemicals, Inc.(a)

     12,100        310,023  

Mitsui Fudosan Co. Ltd.

     15,200        283,694  

Mitsui High-Tec, Inc.

     500        31,407  

Mitsui Mining & Smelting Co. Ltd.(a)

     5,900        142,524  

Mitsui OSK Lines Ltd.(a)

     42,200        1,049,530  

MIXI, Inc.

     5,000        100,008  

Mizuho Financial Group, Inc.

     91,530        1,291,557  

Mizuho Medy Co. Ltd.

     3,000        52,543  

Mizuno Corp.(a)

     7,500        174,976  

MS&AD Insurance Group Holdings, Inc.

     22,730        701,250  

Murata Manufacturing Co. Ltd.

     11,400        688,677  

Musashi Seimitsu Industry Co. Ltd.(a)

     6,200        86,974  

Nabtesco Corp.

     5,000        121,722  

NEC Corp.

     6,300        241,416  

NGK Insulators Ltd.(a)

     13,400        176,398  

NGK Spark Plug Co. Ltd.(a)

     12,200        250,802  

NHK Spring Co. Ltd.

     17,800        126,656  

Nichirei Corp.(a)

     5,500        110,917  

Nikkon Holdings Co. Ltd.(a)

     6,300        117,158  

Nikon Corp.(a)

     9,000        91,630  

Nintendo Co. Ltd.

     33,700        1,299,231  

Nippon Denko Co. Ltd.(a)

     24,500        65,719  

Nippon Electric Glass Co. Ltd.

     9,500        181,948  

Nippon Express Holdings, Inc.

     3,900        233,549  

Nippon Gas Co. Ltd.

     7,900        114,205  

Nippon Kayaku Co. Ltd.(a)

     18,700      168,186  

Nippon Light Metal Holdings Co. Ltd.(a)

     8,500        93,373  

Nippon Shinyaku Co. Ltd.

     300        13,141  

Nippon Steel Corp.

     55,000        1,289,353  

Nippon Steel Trading Corp.

     2,000        139,605  

Nippon Telegraph & Telephone Corp.

     123,500        3,676,512  

Nippon Yusen KK(a)

     60,600        1,406,517  

Nishi-Nippon Financial Holdings, Inc.

     19,100        156,141  

Nishimatsu Construction Co. Ltd.(a)

     5,600        144,113  

Nissan Chemical Corp.(a)

     3,400        153,024  

Nissan Motor Co. Ltd.(a)

     32,600        122,743  

Nisshinbo Holdings, Inc.

     25,000        190,097  

Nissin Foods Holdings Co. Ltd.

     3,100        282,538  

Nitto Denko Corp.

     4,000        256,969  

Noevir Holdings Co. Ltd.

     5,200        210,985  

NOF Corp.(a)

     4,300        199,346  

Nomura Holdings, Inc.

     84,200        322,464  

Nomura Real Estate Holdings, Inc.

     10,800        237,764  

Nomura Research Institute Ltd.

     10,900        251,022  

Noritake Co. Ltd.

     3,400        117,259  

NTT Data Corp.

     13,600        176,987  

Obic Co. Ltd.

     1,000        157,037  

Oji Holdings Corp.

     24,900        98,036  

Okamura Corp.(a)

     14,000        143,482  

Oki Electric Industry Co. Ltd.(a)

     19,500        105,200  

Olympus Corp.

     8,800        153,301  

Ono Pharmaceutical Co. Ltd.

     10,100        209,756  

Open House Group Co. Ltd.

     2,900        107,859  

Oracle Corp.

     3,400        243,459  

Osaka Gas Co. Ltd.

     10,400        170,429  

Otsuka Corp.

     5,000        176,009  

Otsuka Holdings Co. Ltd.

     10,900        344,223  

Panasonic Holdings Corp.

     51,700        459,158  

Penta-Ocean Construction Co. Ltd.(a)

     18,700        88,800  

Pola Orbis Holdings, Inc.

     9,300        120,329  

Recruit Holdings Co. Ltd.

     9,200        252,310  

Resona Holdings, Inc.

     76,000        365,181  

Resonac Holdings Corp.

     5,300        86,654  

Ricoh Co. Ltd.

     10,700        79,673  

Rohm Co. Ltd.

     1,200        98,911  

San-In Godo Bank Ltd.

     12,000        66,632  

Sankyo Co. Ltd.

     2,000        83,102  

Santen Pharmaceutical Co. Ltd.(a)

     12,100        102,735  

Sanwa Holdings Corp.

     13,800        146,824  

SBI Holdings, Inc.(a)

     17,800        350,944  

SCREEN Holdings Co. Ltd.(a)

     1,700        148,809  

SCSK Corp.

     9,500        138,121  

Secom Co. Ltd.

     4,500        276,039  

Sega Sammy Holdings, Inc.

     11,100        209,590  

Seiko Epson Corp.(a)

     11,300        159,706  

Sekisui Chemical Co. Ltd.

     14,500        204,388  

Sekisui House Ltd.

     27,100        549,371  

Senko Group Holdings Co. Ltd.

     12,800        90,886  

Seria Co. Ltd.

     7,900        155,638  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Seven & I Holdings Co. Ltd.

     13,600      $ 610,564  

SG Holdings Co. Ltd.

     12,600        185,559  

Sharp Corp.(a)

     20,300        142,309  

Shibusawa Warehouse Co. Ltd.(a)

     10,400        173,633  

Shiga Bank Ltd.(a)

     5,400        108,698  

Shimamura Co. Ltd.

     1,900        192,727  

Shimano, Inc.

     1,300        223,097  

Shin-Etsu Chemical Co. Ltd.

     49,500        1,589,996  

Shionogi & Co. Ltd.

     7,000        314,366  

Shiseido Co. Ltd.

     4,100        190,413  

SMC Corp.

     800        419,746  

Sodick Co. Ltd.

     21,400        122,203  

SoftBank Corp.(a)

     314,700        3,615,420  

Sojitz Corp.(a)

     13,700        284,417  

Sompo Holdings, Inc.

     15,500        611,661  

Square Enix Holdings Co. Ltd.

     2,600        124,247  

St. Marc Holdings Co. Ltd.(a)

     14,100        183,600  

Stanley Electric Co. Ltd.(a)

     4,100        90,293  

Starts Corp., Inc.

     6,000        114,644  

Subaru Corp.

     15,700        249,438  

SUMCO Corp.

     8,200        122,054  

Sumitomo Bakelite Co. Ltd.

     1,300        50,402  

Sumitomo Chemical Co. Ltd.(a)

     71,600        239,402  

Sumitomo Corp.

     78,200        1,375,507  

Sumitomo Electric Industries Ltd.

     23,300        297,093  

Sumitomo Forestry Co. Ltd.

     13,000        255,917  

Sumitomo Heavy Industries Ltd.

     10,500        255,617  

Sumitomo Metal Mining Co. Ltd.

     14,200        538,702  

Sumitomo Mitsui Financial Group, Inc.

     53,500        2,129,709  

Sumitomo Mitsui Trust Holdings, Inc.

     10,907        372,144  

Sumitomo Realty & Development Co. Ltd.

     8,300        185,969  

Sumitomo Rubber Industries Ltd.

     6,700        60,209  

Sun Frontier Fudousan Co. Ltd.(a)

     18,800        180,951  

Sundrug Co. Ltd.

     4,800        131,099  

Suntory Beverage & Food Ltd.

     6,000        222,481  

Suzuki Motor Corp.

     10,600        382,616  

T&D Holdings, Inc.

     22,400        276,192  

Taiheiyo Cement Corp.(a)

     5,400        100,908  

Taisei Corp.(a)

     7,100        218,457  

Taiyo Yuden Co. Ltd.

     3,100        103,419  

Takara Holdings, Inc.(a)

     19,000        145,901  

Takara Standard Co. Ltd.

     13,600        150,112  

Takashimaya Co. Ltd.(a)

     18,100        262,885  

Takeda Pharmaceutical Co. Ltd.

     55,700        1,820,535  

TDK Corp.

     6,400        227,215  

Teijin Ltd.

     6,600        69,228  

Terumo Corp.

     7,300        196,034  

TIS, Inc.

     5,400        141,603  

Tocalo Co. Ltd.

     15,100        147,040  

Toda Corp.(a)

     18,100        93,975  

Toho Co. Ltd.

     1,900        72,380  

Tokio Marine Holdings, Inc.

     80,000        1,530,994  

Tokuyama Corp.

     9,900        156,582  

Tokyo Electron Ltd.

     14,700        1,771,643  

Tokyo Gas Co. Ltd.

     11,400      213,798  

Tokyo Ohka Kogyo Co. Ltd.

     1,200        69,337  

Tokyo Seimitsu Co. Ltd.

     2,800        107,717  

Tokyo Steel Manufacturing Co. Ltd.(a)

     5,900        60,556  

Tokyo Tatemono Co. Ltd.

     1,600        19,415  

Tokyu Corp.(a)

     8,400        111,209  

Tokyu Fudosan Holdings Corp.

     19,100        91,130  

Toray Industries, Inc.

     25,200        143,221  

Toshiba Corp.

     8,800        293,906  

Tosoh Corp.

     17,700        238,988  

TOTO Ltd.(a)

     4,000        132,842  

Toyo Seikan Group Holdings Ltd.

     14,500        198,941  

Toyo Suisan Kaisha Ltd.

     2,400        100,083  

Toyo Tire Corp.(a)

     7,000        81,261  

Toyoda Gosei Co. Ltd.(a)

     8,800        150,755  

Toyota Boshoku Corp.(a)

     10,400        166,991  

Toyota Motor Corp.(a)

     345,450        4,879,751  

Toyota Tsusho Corp.

     11,400        481,389  

TPR Co. Ltd.

     12,900        129,785  

Transcosmos, Inc.

     4,000        94,222  

Trend Micro, Inc.

     5,200        252,791  

Tsumura & Co.

     5,400        106,710  

Tsuruha Holdings, Inc.

     900        59,847  

UBE Corp.(a)

     7,400        114,261  

Ulvac, Inc.

     900        38,883  

Unicharm Corp.

     3,200        130,823  

USS Co. Ltd.

     14,000        241,416  

V Technology Co. Ltd.(a)

     6,600        139,151  

Wacoal Holdings Corp.(a)

     5,900        110,251  

Wacom Co. Ltd.(a)

     12,300        63,769  

West Japan Railway Co.

     3,000        123,007  

Wowow, Inc.

     13,500        127,098  

Yakult Honsha Co. Ltd.

     3,700        267,721  

Yamada Holdings Co. Ltd.(a)

     25,800        88,397  

Yamaguchi Financial Group, Inc.(a)

     46,500        283,703  

Yamaha Motor Co. Ltd.

     13,100        340,567  

Yamato Holdings Co. Ltd.

     7,300        124,455  

Yaskawa Electric Corp.(a)

     2,400        104,050  

Yokogawa Electric Corp.

     10,600        171,238  

Yokohama Rubber Co. Ltd.

     7,100        149,213  

Yondoshi Holdings, Inc.

     12,900        173,015  

ZOZO, Inc.(a)

     5,500        124,596  
     

 

 

 
Total Japan

 

     109,430,448  
Netherlands – 2.1%

 

Aalberts NV

     4,244        200,159  

Aegon NV

     58,615        251,609  

ASM International NV

     553        223,440  

ASML Holding NV

     2,919        1,982,726  

ASR Nederland NV

     10,972        437,960  

BE Semiconductor Industries NV

     4,630        402,924  

CTP NV(b)

     11,671        151,145  

Euronext NV(b)

     2,878        220,690  

Heijmans NV, CVA

     7,586        104,176  

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Heineken Holding NV

     3,230      $ 296,706  

Heineken NV

     8,924        960,434  

JDE Peet’s NV

     7,993        232,905  

Koninklijke Ahold Delhaize NV

     27,423        938,204  

Koninklijke DSM NV

     3,163        373,541  

Koninklijke KPN NV

     236,301        835,910  

Koninklijke Vopak NV

     6,662        235,160  

NN Group NV

     14,695        534,202  

OCI NV(a)

     23,935        812,891  

Ordina NV

     5,066        32,804  

Randstad NV(a)

     12,431        737,409  

RHI Magnesita NV

     3,814        105,634  

SBM Offshore NV

     13,441        199,696  

Signify NV(b)

     4,721        157,156  

Universal Music Group NV(a)

     25,534        646,514  

Wolters Kluwer NV

     5,150        651,003  
     

 

 

 
Total Netherlands

 

     11,724,998  
Norway – 1.9%

 

AF Gruppen ASA

     15,688        223,192  

Aker ASA, Class A

     3,169        203,337  

Aker BP ASA(a)

     29,771        728,562  

Atea ASA*

     7,418        90,661  

Austevoll Seafood ASA

     14,800        132,694  

DNB Bank ASA

     84,520        1,511,952  

Entra ASA(b)

     14,166        136,749  

Equinor ASA

     80,151        2,285,962  

Gjensidige Forsikring ASA(a)

     26,095        426,815  

Kid ASA(b)

     13,487        109,332  

Leroy Seafood Group ASA

     29,613        153,535  

Mowi ASA

     15,853        292,747  

MPC Container Ships ASA

     68,131        108,541  

Norsk Hydro ASA

     82,541        613,160  

Orkla ASA

     22,704        160,984  

Salmar ASA

     5,901        256,818  

Selvaag Bolig ASA

     26,944        95,318  

SpareBank 1 Nord Norge(a)

     15,263        128,393  

SpareBank 1 SR-Bank ASA

     12,356        142,754  

Storebrand ASA

     16,870        129,379  

Telenor ASA

     155,714        1,824,303  

Veidekke ASA

     13,075        138,826  

Wallenius Wilhelmsen ASA

     11,304        81,706  

Yara International ASA

     13,049        565,538  
     

 

 

 
Total Norway

 

     10,541,258  
Peru – 0.0%

 

Hochschild Mining PLC

     34,220        35,753  
Portugal – 0.4%

 

EDP – Energias de Portugal SA

     139,305        759,161  

Galp Energia SGPS SA

     34,524        392,340  

Jeronimo Martins SGPS SA

     22,830        536,255  

Navigator Co. SA

     33,089        118,490  

NOS SGPS SA

     27,369        125,363  

REN – Redes Energeticas Nacionais SGPS SA

     69,430        203,667  

Sonae SGPS SA

     77,787      84,934  
     

 

 

 
Total Portugal

 

     2,220,210  
Singapore – 2.8%

 

BOC Aviation Ltd.(b)

     19,800        152,978  

Bukit Sembawang Estates Ltd.(a)

     88,300        272,295  

CapitaLand Ascendas REIT

     215,900        464,423  

CapitaLand Ascott Trust

     163,800        122,584  

CapitaLand Integrated Commercial Trust

     368,700        549,077  

CapitaLand Investment Ltd.

     196,800        544,714  

City Developments Ltd.

     27,200        150,776  

ComfortDelGro Corp. Ltd.

     84,300        74,818  

DBS Group Holdings Ltd.

     117,476        2,915,805  

Frasers Centrepoint Trust

     42,300        72,857  

Frasers Logistics & Commercial Trust

     294,800        290,465  

Genting Singapore Ltd.

     356,000        299,891  

Jardine Cycle & Carriage Ltd.(a)

     20,655        485,945  

Jiutian Chemical Group Ltd.

     1,080,300        59,315  

Kenon Holdings Ltd.

     4,752        139,103  

Keppel Corp. Ltd.

     70,400        298,110  

Keppel DC REIT

     89,800        139,136  

Keppel Infrastructure Trust(a)

     392,400        154,947  

Keppel REIT

     209,400        139,385  

Mapletree Industrial Trust

     148,400        264,532  

Mapletree Logistics Trust(a)

     155,500        199,996  

Mapletree Pan Asia Commercial Trust

     170,900        231,372  

NetLink NBN Trust

     387,100        250,390  

Olam Group Ltd.

     199,500        235,580  

OUE Commercial Real Estate Investment Trust

     363,800        86,192  

Oversea-Chinese Banking Corp. Ltd.

     207,095        1,926,791  

PARAGON REIT

     198,800        141,300  

Parkway Life Real Estate Investment Trust

     26,000        78,026  

Raffles Medical Group Ltd.

     133,300        149,387  

Sembcorp Industries Ltd.

     96,800        318,893  

Sheng Siong Group Ltd.

     184,300        234,265  

Singapore Exchange Ltd.

     55,400        391,681  

Singapore Post Ltd.

     320,900        120,680  

Singapore Technologies Engineering Ltd.

     149,100        410,444  

Singapore Telecommunications Ltd.

     672,700        1,244,663  

Suntec Real Estate Investment Trust

     162,100        174,347  

United Overseas Bank Ltd.

     86,501        1,936,196  

Venture Corp. Ltd.

     10,800        143,534  

Wing Tai Holdings Ltd.

     116,700        130,783  
     

 

 

 
Total Singapore

 

     15,995,676  
Spain – 3.9%

 

Acciona SA(a)

     1,644        329,897  

Acerinox SA

     15,982        164,503  

ACS Actividades de Construccion y Servicios SA

     26,041        830,377  

Atresmedia Corp. de Medios de Comunicacion SA

     32,967        124,428  

Banco Bilbao Vizcaya Argentaria SA(a)

     253,354        1,808,710  

Banco de Sabadell SA(a)

     161,549        173,549  

Banco Santander SA

     484,255        1,802,483  

Bankinter SA(a)

     38,166        216,698  

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

CaixaBank SA

     238,615      $ 929,128  

Cia de Distribucion Integral Logista Holdings SA

     6,393        159,751  

Cie Automotive SA

     5,491        158,091  

EDP Renovaveis SA

     6,206        142,200  

Enagas SA

     19,360        372,296  

Endesa SA

     102,168        2,220,008  

Faes Farma SA

     43,807        149,921  

Ferrovial SA

     16,547        487,010  

Fluidra SA(a)

     16,495        290,141  

Fomento de Construcciones y Contratas SA

     24,405        238,633  

Grupo Catalana Occidente SA

     7,847        247,662  

Iberdrola SA

     209,643        2,615,900  

Industria de Diseno Textil SA

     86,624        2,908,081  

Inmobiliaria Colonial Socimi SA

     23,103        146,209  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)

     86,838        93,638  

Mapfre SA

     210,572        425,066  

Merlin Properties Socimi SA

     52,468        459,451  

Naturgy Energy Group SA(a)

     52,729        1,589,726  

Red Electrica Corp. SA

     23,633        415,952  

Repsol SA

     59,907        923,244  

Sacyr SA(a)

     43,207        138,949  

Telefonica SA

     358,873        1,549,063  

Unicaja Banco SA(a)(b)

     117,125        125,723  

Viscofan SA

     2,561        183,638  
     

 

 

 
Total Spain

 

     22,420,126  
Sweden – 2.4%

 

AFRY AB

     7,696        138,564  

Alfa Laval AB

     7,037        250,886  

Assa Abloy AB, Class B

     15,372        368,084  

Atlas Copco AB, Class A

     41,677        528,682  

Atlas Copco AB, Class B

     25,164        289,217  

Avanza Bank Holding AB(a)

     5,839        136,831  

Axfood AB(a)

     9,018        220,198  

Billerud AB

     10,900        112,001  

Boliden AB

     9,616        378,165  

Dometic Group AB(a)(b)

     13,549        82,421  

Epiroc AB, Class A(a)

     19,799        392,942  

EQT AB(a)

     10,521        213,676  

Essity AB, Class B(a)

     15,677        448,107  

Evolution AB(b)

     2,374        317,814  

Fabege AB(a)

     13,627        104,632  

Hexagon AB, Class B

     19,223        220,323  

Hexpol AB

     14,610        181,048  

Husqvarna AB, Class B

     27,721        240,170  

Industrivarden AB, Class A

     5,526        149,054  

Industrivarden AB, Class C

     4,052        109,100  

Investment AB Latour, Class B(a)

     8,743        177,566  

JM AB(a)

     7,538        124,888  

Lifco AB, Class B(a)

     8,944        192,343  

Lindab International AB

     1,924        29,427  

Loomis AB

     4,824        165,149  

NCC AB, Class B

     10,649        94,377  

Nibe Industrier AB, Class B

     8,932        101,469  

Nordnet AB publ

     9,947      163,792  

Saab AB, Class B

     2,385        145,130  

Samhallsbyggnadsbolaget i Norden AB, Class D(a)

     3,960        6,148  

Sandvik AB

     23,924        507,109  

Securitas AB, Class B(a)

     15,465        137,625  

Skandinaviska Enskilda Banken AB, Class A*(a)

     74,264        818,945  

SKF AB, Class B

     13,813        271,743  

SSAB AB, Class A

     38,097        280,835  

SSAB AB, Class B

     74,480        530,935  

Svenska Cellulosa AB SCA, Class B(a)

     12,993        170,971  

Svenska Handelsbanken AB, Class A(a)

     67,615        585,805  

Swedbank AB, Class A(a)

     70,577        1,158,071  

Tele2 AB, Class B

     36,927        367,684  

Telefonaktiebolaget LM Ericsson, Class B(a)

     87,721        512,644  

Telia Co. AB(a)

     311,500        792,152  

Thule Group AB(b)

     9,150        224,745  

Trelleborg AB, Class B

     7,629        216,961  

Volvo AB, Class A(a)

     12,996        279,483  

Volvo AB, Class B

     34,928        720,316  

Wihlborgs Fastigheter AB

     20,362        155,814  
     

 

 

 
Total Sweden

 

     13,814,042  
Switzerland – 9.0%

 

ABB Ltd., Registered Shares

     45,647        1,567,453  

Baloise Holding AG, Registered Shares

     2,939        458,118  

Banque Cantonale Vaudoise, Registered Shares(a)

     3,836        362,374  

BKW AG

     1,552        244,297  

Cembra Money Bank AG

     1,289        101,379  

Cie Financiere Richemont SA, Class A, Registered Shares

     8,917        1,424,104  

Clariant AG, Registered Shares*

     4,519        74,744  

Coca-Cola HBC AG*

     8,947        244,814  

DKSH Holding AG

     2,399        193,406  

EFG International AG*

     12,506        122,521  

Galenica AG(b)

     2,212        187,289  

Geberit AG, Registered Shares

     900        501,647  

Givaudan SA, Registered Shares

     129        419,810  

Helvetia Holding AG, Registered Shares

     3,000        418,368  

Holcim AG, Registered Shares*

     23,483        1,514,037  

Julius Baer Group Ltd.

     8,150        555,972  

Kuehne & Nagel International AG, Registered Shares

     3,973        1,182,485  

Logitech International SA, Registered Shares

     3,861        224,420  

Lonza Group AG, Registered Shares

     519        310,985  

Nestle SA, Registered Shares

     78,698        9,601,750  

Novartis AG, Registered Shares

     103,984        9,533,906  

OC Oerlikon Corp. AG, Registered Shares

     17,845        100,696  

Partners Group Holding AG

     767        719,354  

PSP Swiss Property AG, Registered Shares

     1,303        148,336  

Roche Holding AG

     20,480        5,849,987  

Roche Holding AG, Bearer Shares(a)

     3,586        1,079,470  

Schindler Holding AG, Participation Certificate

     1,197        264,806  

Schindler Holding AG, Registered Shares

     739        156,124  

SFS Group AG

     1,832        237,435  

SGS SA, Registered Shares

     310        682,404  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

SIG Group AG*(a)

     6,868      $ 176,822  

Sika AG, Registered Shares

     1,640        458,672  

Sonova Holding AG, Registered Shares

     864        254,031  

Stadler Rail AG(a)

     2,379        92,967  

STMicroelectronics NV

     6,862        364,970  

Straumann Holding AG, Registered Shares(a)

     1,095        163,432  

Sulzer AG, Registered Shares(a)

     2,515        213,220  

Swatch Group AG, Bearer Shares

     1,252        429,508  

Swiss Life Holding AG, Registered Shares

     1,444        890,220  

Swiss Prime Site AG, Registered Shares

     3,796        316,004  

Swiss Re AG

     17,604        1,808,286  

Swisscom AG, Registered Shares

     2,841        1,813,662  

UBS Group AG, Registered Shares

     80,331        1,696,224  

VAT Group AG(a)(b)

     539        193,640  

Vontobel Holding AG, Registered Shares

     3,488        226,412  

Zurich Insurance Group AG

     8,151        3,905,306  
     

 

 

 
Total Switzerland

 

     51,485,867  
United Kingdom – 12.4%

 

Airtel Africa PLC(b)

     187,194        246,501  

Anglo American PLC

     75,739        2,507,880  

Ashmore Group PLC

     56,773        167,490  

Ashtead Group PLC

     6,713        411,528  

Associated British Foods PLC

     13,552        325,074  

Assura PLC

     200,618        121,199  

AstraZeneca PLC

     29,846        4,144,955  

Aviva PLC

     131,704        658,221  

BAE Systems PLC

     79,347        964,015  

Balfour Beatty PLC

     21,943        101,037  

Barclays PLC

     493,036        888,818  

Beazley PLC

     11,640        85,994  

Bellway PLC

     7,341        200,324  

Big Yellow Group PLC

     11,360        164,199  

BP PLC

     654,191        4,131,731  

British American Tobacco PLC

     111,698        3,922,986  

British Land Co. PLC

     43,314        207,689  

Britvic PLC(a)

     15,718        173,162  

BT Group PLC

     436,571        787,026  

Bunzl PLC

     8,287        313,234  

Burberry Group PLC

     7,187        229,801  

Central Asia Metals PLC

     49,967        146,114  

Clarkson PLC

     2,287        87,378  

Close Brothers Group PLC

     7,257        80,846  

CNH Industrial NV

     19,304        295,297  

Compass Group PLC

     14,974        376,402  

Computacenter PLC

     4,027        106,455  

ConvaTec Group PLC(b)

     51,290        144,972  

Cranswick PLC

     2,847        105,746  

Croda International PLC

     2,312        185,757  

DCC PLC

     2,388        139,306  

Derwent London PLC(a)

     3,311        96,534  

Diageo PLC

     54,113        2,418,056  

Diversified Energy Co. PLC

     111,053        129,897  

Drax Group PLC

     18,891        141,898  

DS Smith PLC

     31,629        122,994  

Dunelm Group PLC

     8,851      120,929  

Fresnillo PLC

     16,209        149,510  

Games Workshop Group PLC

     1,344        160,196  

Genus PLC

     174        6,183  

Harbour Energy PLC

     35,590        120,750  

Hargreaves Lansdown PLC

     11,762        116,258  

Howden Joinery Group PLC

     19,477        168,095  

HSBC Holdings PLC

     1,162,818        7,903,402  

IMI PLC

     9,336        177,077  

Imperial Brands PLC

     75,580        1,741,925  

Inchcape PLC

     12,830        122,864  

InterContinental Hotels Group PLC

     3,759        246,892  

Intertek Group PLC

     3,491        174,946  

Investec PLC

     28,092        156,166  

ITV PLC

     218,514        223,710  

J. Sainsbury PLC

     112,472        387,577  

Kingfisher PLC

     64,297        207,654  

Land Securities Group PLC(a)

     33,510        257,385  

Legal & General Group PLC

     322,702        953,223  

Liontrust Asset Management PLC

     9,041        114,247  

Lloyds Banking Group PLC

     2,386,511        1,406,795  

London Stock Exchange Group PLC

     4,519        439,626  

Londonmetric Property PLC

     65,081        141,304  

Mondi PLC

     14,901        236,200  

Morgan Sindall Group PLC

     4,894        102,265  

National Grid PLC

     214,178        2,903,756  

Next PLC

     3,472        282,133  

OSB Group PLC

     39,058        232,580  

Pagegroup PLC

     25,927        146,310  

Pan African Resources PLC

     119,103        24,416  

Pearson PLC

     16,576        173,063  

Prudential PLC

     36,811        501,575  

QinetiQ Group PLC

     29,687        119,223  

Quilter PLC(b)

     65,481        68,220  

Reckitt Benckiser Group PLC

     22,815        1,737,148  

Redde Northgate PLC

     24,430        104,363  

Redrow PLC

     13,866        81,643  

RELX PLC

     48,934        1,584,006  

Rentokil Initial PLC

     15,701        114,850  

Rightmove PLC

     7,841        54,583  

RS Group PLC

     9,998        112,989  

RWS Holdings PLC

     4,794        17,723  

Safestore Holdings PLC

     7,895        92,737  

Sage Group PLC

     28,836        276,321  

Savills PLC

     8,910        109,231  

Schroders PLC

     61,560        350,133  

Segro PLC

     27,896        264,761  

Serco Group PLC(a)

     58,702        111,341  

Severn Trent PLC

     9,360        333,192  

Shell PLC

     312,865        8,930,246  

Smith & Nephew PLC

     21,351        296,202  

Smiths Group PLC

     14,721        312,434  

Spectris PLC

     3,873        175,221  

Spirax-Sarco Engineering PLC

     643        94,252  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Spirent Communications PLC

     15,750      $ 33,749  

SSE PLC

     44,641        995,190  

St. James’s Place PLC

     18,110        271,168  

Standard Chartered PLC

     49,094        372,833  

Tate & Lyle PLC

     15,913        154,375  

TBC Bank Group PLC

     4,981        137,956  

Telecom Plus PLC

     3,292        76,930  

Tesco PLC

     247,396        812,757  

TP ICAP Group PLC

     29,982        66,765  

Travis Perkins PLC

     31,539        372,962  

Tritax Big Box REIT PLC

     77,648        134,315  

Unilever PLC

     73,574        3,811,667  

Unite Group PLC

     15,339        181,978  

United Utilities Group PLC

     26,571        348,249  

Vesuvius PLC

     20,755        106,191  

Victrex PLC

     3,775        74,355  

Vodafone Group PLC

     1,619,531        1,788,205  

Weir Group PLC

     2,841        65,302  

Wincanton PLC

     19,292        51,524  

Workspace Group PLC

     20,855        112,634  
     

 

 

 
Total United Kingdom

 

     70,739,452  
United States – 1.1%

 

GSK PLC

     190,286        3,362,139  

Stellantis NV

     169,700        3,085,625  
     

 

 

 
Total United States

 

     6,447,764  
TOTAL COMMON STOCKS
(Cost: $483,125,308)

 

     563,708,493  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 8.0%

 

United States – 8.0%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $45,815,394)      45,815,394      45,815,394  
TOTAL INVESTMENTS IN SECURITIES – 106.9%
(Cost: $528,940,702)

 

     609,523,887  

Other Assets less Liabilities – (6.9)%

 

     (39,370,956
     

 

 

 
NET ASSETS – 100.0%

 

   $ 570,152,931  

 

* 

Non-income producing security.

 

 

Share amount represents a fractional share.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $62,266,565 and the total market value of the collateral held by the Fund was $65,792,668. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $19,977,274.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 563,708,493      $      $      $ 563,708,493  

Investment of Cash Collateral for Securities Loaned

            45,815,394               45,815,394  

Total Investments in Securities

   $ 563,708,493      $ 45,815,394      $      $ 609,523,887  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Schedule of Investments

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.5%

 

Australia – 17.7%

 

Abacus Property Group

     97,253      $ 169,352  

Accent Group Ltd.

     57,411        91,129  

Adbri Ltd.(a)

     66,816        70,929  

Ampol Ltd.

     19,821        404,758  

ANZ Group Holdings Ltd.

     197,390        3,031,392  

APA Group

     98,287        666,177  

Aurizon Holdings Ltd.

     135,321        304,521  

Australian Clinical Labs Ltd.(a)

     37,528        88,724  

Bank of Queensland Ltd.(a)

     28,910        125,662  

Bendigo & Adelaide Bank Ltd.(a)

     37,983        220,557  

BHP Group Ltd.

     758,280        23,986,142  

BWP Trust

     37,477        94,879  

Centuria Capital Group(a)

     56,243        56,880  

Centuria Industrial REIT

     39,587        79,540  

Champion Iron Ltd.(a)

     24,758        118,393  

Charter Hall Long Wale REIT

     77,080        216,306  

Codan Ltd.

     12,000        43,721  

Commonwealth Bank of Australia

     80,341        5,290,442  

Cromwell Property Group

     484,903        180,244  

CSR Ltd.

     51,739        164,598  

Dalrymple Bay Infrastructure Ltd.

     30,355        54,485  

Deterra Royalties Ltd.

     59,587        191,560  

Dexus

     116,272        584,828  

Dicker Data Ltd.(a)

     8,482        46,526  

Downer EDI Ltd.

     32,843        75,448  

Eagers Automotive Ltd.(a)

     15,585        140,809  

First Resources Ltd.

     126,300        149,141  

GPT Group(a)

     167,298        475,083  

Growthpoint Properties Australia Ltd.

     106,752        217,351  

GUD Holdings Ltd.(a)

     8,022        52,599  

Harvey Norman Holdings Ltd.(a)

     111,720        267,872  

Helia Group Ltd.

     43,444        83,507  

HomeCo Daily Needs REIT

     144,330        111,648  

Incitec Pivot Ltd.

     150,488        315,471  

Insignia Financial Ltd.

     31,727        58,223  

IRESS Ltd.

     12,699        84,371  

JB Hi-Fi Ltd.

     13,190        375,180  

McMillan Shakespeare Ltd.

     9,101        87,774  

Metcash Ltd.(a)

     81,673        210,597  

Mirvac Group(a)

     212,708        296,319  

Myer Holdings Ltd.

     86,560        51,596  

National Australia Bank Ltd.

     166,095        3,083,633  

New Hope Corp. Ltd.

     93,797        356,821  

Nick Scali Ltd.(a)

     9,606        60,154  

Nine Entertainment Co. Holdings Ltd.(a)

     118,925        156,911  

NRW Holdings Ltd.

     56,713        91,161  

Origin Energy Ltd.

     89,432        496,547  

Orora Ltd.

     91,444        209,457  

Perpetual Ltd.(a)

     3,717        54,669  

Premier Investments Ltd.

     7,442        130,040  

Region RE Ltd.

     56,465        88,871  

Rio Tinto Ltd.

     190,652        13,459,619  

Scentre Group

     311,050      572,896  

Sims Ltd.

     23,275        241,777  

SmartGroup Corp. Ltd.(a)

     28,633        122,924  

South32 Ltd.

     722,327        2,114,113  

Stockland

     284,330        757,912  

Super Retail Group Ltd.(a)

     21,334        179,320  

Telstra Group Ltd.

     858,204        2,425,581  

Terracom Ltd.(a)

     89,964        40,370  

Vicinity Ltd.

     349,070        454,721  

Viva Energy Group Ltd.(b)

     134,772        273,499  

Waypoint REIT Ltd.

     66,945        116,126  

Wesfarmers Ltd.

     54,978        1,850,282  

Westpac Banking Corp.

     142,432        2,066,231  

Whitehaven Coal Ltd.

     70,696        318,656  

Woodside Energy Group Ltd.

     185,912        4,151,317  
     

 

 

 
Total Australia

 

     73,208,342  
Austria – 0.8%

 

BAWAG Group AG*(b)

     7,251        351,825  

Erste Group Bank AG

     20,910        692,889  

Lenzing AG

     2,614        197,378  

Oesterreichische Post AG(a)

     6,258        231,506  

OMV AG

     19,947        915,834  

Semperit AG Holding

     3,485        93,900  

Telekom Austria AG*

     49,824        376,212  

Voestalpine AG

     10,181        345,993  
     

 

 

 
Total Austria

 

     3,205,537  
Belgium – 1.1%

 

Aedifica SA

     1,565        125,992  

Ageas SA/NV

     14,470        626,636  

Bekaert SA

     3,276        148,063  

bpost SA

     18,928        107,860  

Cofinimmo SA

     3,213        284,672  

Etablissements Franz Colruyt NV(a)

     6,488        189,756  

Intervest Offices & Warehouses NV

     1,919        36,486  

KBC Group NV

     25,061        1,723,502  

Proximus SADP

     36,731        354,927  

Solvay SA

     5,078        581,215  

VGP NV

     2,301        205,494  
     

 

 

 
Total Belgium

 

     4,384,603  
China – 0.8%

 

BOC Hong Kong Holdings Ltd.

     544,547        1,696,084  

CITIC Telecom International Holdings Ltd.

     857,000        349,353  

Wilmar International Ltd.

     299,200        947,412  

Yanlord Land Group Ltd.

     306,900        210,055  
     

 

 

 
Total China

 

     3,202,904  
Denmark – 0.7%

 

AP Moller – Maersk A/S, Class B

     861        1,562,760  

D/S Norden A/S

     5,387        362,352  

Pandora A/S

     4,132        394,967  

Scandinavian Tobacco Group A/S(b)

     9,302        184,777  

Sydbank A/S

     3,510        158,081  

Topdanmark A/S*

     5,937        317,608  
     

 

 

 
Total Denmark

 

     2,980,545  

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  
Finland – 1.7%

 

Anora Group Oyj(a)

     5,030      $ 30,275  

Citycon Oyj(a)

     10,406        71,169  

Elisa Oyj

     14,391        868,686  

Fiskars Oyj Abp(a)

     3,457        58,967  

Fortum Oyj*

     71,541        1,097,098  

Kemira Oyj

     17,002        299,613  

Kesko Oyj, Class A(a)

     5,367        116,386  

Konecranes Oyj

     4,940        165,520  

Metsa Board Oyj, Class B(a)

     13,785        111,127  

Nordea Bank Abp(a)

     212,966        2,272,284  

Sampo Oyj, Class A

     25,058        1,183,711  

Sanoma Oyj

     12,838        113,117  

TietoEVRY Oyj(a)

     8,313        261,196  

Tokmanni Group Corp.(a)

     4,557        62,927  

Uponor Oyj(a)

     3,853        71,289  

Valmet Oyj(a)

     9,169        297,256  
     

 

 

 
Total Finland

 

     7,080,621  
France – 10.5%

 

ALD SA(b)

     44,719        524,718  

AXA SA

     168,843        5,166,572  

BNP Paribas SA

     71,405        4,283,079  

Bouygues SA(a)

     26,022        878,964  

Chargeurs SA

     87        1,471  

Cie Generale des Etablissements Michelin SCA

     30,158        922,175  

Coface SA

     16,368        232,068  

Derichebourg SA

     12,427        72,907  

Engie SA

     242,270        3,836,084  

Fnac Darty SA

     1,945        71,805  

Gecina SA

     4,586        476,074  

Imerys SA(a)

     4,166        180,141  

Jacquet Metals SACA

     2,554        49,669  

Klepierre SA(a)

     24,101        545,947  

Maisons du Monde SA(b)

     3,668        39,472  

Metropole Television SA(a)

     19,370        314,616  

Orange SA

     308,783        3,674,147  

Publicis Groupe SA

     11,241        876,634  

Rexel SA*

     20,234        482,532  

Rothschild & Co.

     4,723        238,862  

Rubis SCA

     10,993        294,642  

Sanofi

     52,768        5,746,738  

Societe Generale SA

     45,699        1,031,969  

Television Francaise 1(a)

     24,270        214,505  

TotalEnergies SE(a)

     201,940        11,926,459  

Veolia Environnement SA

     28,612        882,828  

Verallia SA(b)

     5,853        249,908  

Vicat SA

     3,521        105,772  
     

 

 

 
Total France

 

     43,320,758  
Georgia – 0.0%

 

Bank of Georgia Group PLC

     3,306        112,412  
Germany – 10.6%

 

Allianz SE, Registered Shares

     19,120        4,420,478  

BASF SE

     68,178        3,582,121  

Bayer AG, Registered Shares

     40,948      2,612,333  

Bayerische Motoren Werke AG

     44,799        4,912,939  

Dermapharm Holding SE

     3,036        124,616  

Deutsche Post AG, Registered Shares

     62,414        2,921,919  

Deutz AG

     16,124        104,670  

DWS Group GmbH & Co. KGaA(b)

     15,603        480,077  

E.ON SE

     167,626        2,094,348  

Evonik Industries AG

     27,813        585,009  

Fielmann AG

     3,768        157,118  

Freenet AG

     14,723        383,099  

Hamburger Hafen und Logistik AG

     4,974        61,498  

Hapag-Lloyd AG(a)(b)

     19,062        6,254,392  

HeidelbergCement AG

     10,384        758,807  

Indus Holding AG

     2,168        58,886  

Instone Real Estate Group SE(b)

     4,989        42,278  

Kloeckner & Co. SE

     13,420        144,416  

Mercedes-Benz Group AG

     96,352        7,409,365  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     4,785        1,676,569  

Siltronic AG

     1,716        125,284  

Sixt SE

     1,257        167,431  

Stroeer SE & Co. KGaA

     2,594        137,136  

Talanx AG

     11,049        512,579  

Telefonica Deutschland Holding AG

     244,657        754,096  

Varta AG(a)

     3,662        100,459  

Volkswagen AG

     13,875        2,381,770  

Wacker Chemie AG

     3,631        589,368  

Wacker Neuson SE

     5,002        104,830  
     

 

 

 
Total Germany

 

     43,657,891  
Hong Kong – 3.8%

 

Bank of East Asia Ltd.(a)

     131,400        167,055  

Champion REIT(a)

     572,000        245,561  

CLP Holdings Ltd.

     145,500        1,050,943  

Dah Sing Banking Group Ltd.

     151,200        115,760  

Dah Sing Financial Holdings Ltd.

     18,000        46,204  

Fortune Real Estate Investment Trust

     234,000        193,759  

Hang Lung Group Ltd.

     175,000        308,983  

Hang Lung Properties Ltd.

     273,000        510,531  

Henderson Land Development Co. Ltd.

     436,220        1,508,720  

Hong Kong & China Gas Co. Ltd.

     1,079,000        949,801  

Hutchison Port Holdings Trust

     1,104,023        206,452  

Hysan Development Co. Ltd.

     60,000        170,447  

Link REIT

     254,650        1,638,205  

New World Development Co. Ltd.

     264,000        707,928  

PCCW Ltd.

     1,651,000        824,454  

Power Assets Holdings Ltd.

     255,518        1,370,366  

Sino Land Co. Ltd.

     774,336        1,047,580  

Sun Hung Kai Properties Ltd.

     247,000        3,461,168  

Swire Pacific Ltd., Class B

     182,500        225,743  

Swire Properties Ltd.

     356,000        916,082  

Tam Jai International Co. Ltd.

     175,000        51,943  
     

 

 

 
Total Hong Kong

 

     15,717,685  
Indonesia – 0.0%

 

Bumitama Agri Ltd.(a)

     199,100        84,609  

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  



Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nickel Industries Ltd.

     146,758      $ 88,462  
     

 

 

 
Total Indonesia

 

     173,071  
Ireland – 0.0%

 

Cairn Homes PLC

     34,951        38,732  

Kenmare Resources PLC

     10,693        62,074  
     

 

 

 
Total Ireland

 

     100,806  
Israel – 0.7%

 

Amot Investments Ltd.

     27,275        138,093  

Ashtrom Group Ltd.

     10,037        150,528  

Bank Leumi Le-Israel BM

     92,789        695,792  

Delek Automotive Systems Ltd.

     16,023        148,675  

Delek Group Ltd.

     0        19  

FIBI Holdings Ltd.

     1,345        50,242  

First International Bank of Israel Ltd.

     2,979        104,660  

G City Ltd.

     18,936        62,320  

Gav-Yam Lands Corp. Ltd.

     15,046        109,690  

Harel Insurance Investments & Financial Services Ltd.

     6,379        53,503  

ICL Group Ltd.

     167,085        1,119,731  

Matrix IT Ltd.

     1,537        26,961  

Oil Refineries Ltd.

     136,737        37,254  

Phoenix Holdings Ltd.

     14,813        146,458  

Plus500 Ltd.(a)

     4,426        92,595  
     

 

 

 
Total Israel

 

     2,936,521  
Italy – 3.4%

 

A2A SpA(a)

     245,135        391,501  

ACEA SpA

     15,650        214,237  

Anima Holding SpA(b)

     36,760        149,607  

Assicurazioni Generali SpA

     87,293        1,743,149  

Azimut Holding SpA(a)

     7,567        161,957  

Banca Generali SpA(a)

     4,785        152,737  

Banca Mediolanum SpA

     51,303        465,859  

Banca Popolare di Sondrio SpA

     13,166        55,987  

Banco BPM SpA(a)

     72,791        285,097  

Credito Emiliano SpA

     14,314        106,061  

Cromwell European Real Estate Investment Trust

     69,200        113,525  

De’ Longhi SpA

     6,725        153,872  

Eni SpA(a)

     280,769        3,936,865  

Esprinet SpA

     9,502        95,182  

Hera SpA

     44,398        125,511  

Immobiliare Grande Distribuzione SIIQ SpA(a)

     12,400        38,126  

Iren SpA

     104,637        200,650  

Italgas SpA(a)

     91,912        561,700  

Maire Tecnimont SpA(a)

     17,453        75,051  

Mediobanca Banca di Credito Finanziario SpA(a)

     54,326        547,020  

Poste Italiane SpA(b)

     55,552        568,056  

Snam SpA

     314,788        1,672,045  

Terna – Rete Elettrica Nazionale

     148,309        1,219,112  

Unieuro SpA(a)(b)

     3,439        40,576  

Unipol Gruppo SpA

     38,424        197,917  

UnipolSai Assicurazioni SpA(a)

     237,209        599,962  
     

 

 

 
Total Italy

 

     13,871,362  
Japan – 11.4%

 

77 Bank Ltd.(a)

     2,700      43,861  

AGC, Inc.

     9,400        347,847  

Aisin Corp.

     19,000        520,362  

Akita Bank Ltd.

     4,400        58,318  

Aozora Bank Ltd.(a)

     17,500        315,444  

Asahi Holdings, Inc.(a)

     3,800        57,732  

CKD Corp.

     2,100        33,924  

Concordia Financial Group Ltd.(a)

     68,100        249,702  

Cosmo Energy Holdings Co. Ltd.

     3,800        122,346  

Daicel Corp.

     4,500        33,812  

Daido Steel Co. Ltd.(a)

     1,600        62,514  

Daiho Corp.(a)

     1,000        27,650  

Daiken Corp.

     1,800        30,836  

Daiwa House Industry Co. Ltd.

     30,400        711,290  

Daiwa Securities Group, Inc.(a)

     64,900        302,824  

Denka Co. Ltd.(a)

     3,100        63,705  

DIC Corp.

     2,100        37,554  

Eagle Industry Co. Ltd.

     2,900        25,886  

ENEOS Holdings, Inc.

     256,800        897,613  

Exedy Corp.

     3,400        46,316  

EXEO Group, Inc.

     4,000        72,042  

G-Tekt Corp.(a)

     3,100        33,355  

H.U. Group Holdings, Inc.(a)

     4,600        92,145  

Hakuto Co. Ltd.(a)

     2,200        81,246  

Haseko Corp.

     24,800        286,777  

Iida Group Holdings Co. Ltd.(a)

     16,600        269,287  

Iino Kaiun Kaisha Ltd.

     6,200        46,771  

Inabata & Co. Ltd.(a)

     2,000        40,379  

Inpex Corp.

     63,800        669,687  

Inui Global Logistics Co. Ltd.(a)

     2,700        36,375  

Isuzu Motors Ltd.

     40,800        484,057  

Japan Post Holdings Co. Ltd.

     174,900        1,414,681  

Japan Post Insurance Co. Ltd.

     20,900        324,595  

Japan Tobacco, Inc.

     145,900        3,067,309  

Kajima Corp.

     38,100        457,463  

Kanematsu Corp.

     3,200        39,480  

Kansai Electric Power Co., Inc.

     47,300        458,820  

Kawasaki Kisen Kaisha Ltd.(a)

     30,900        702,326  

Ki-Star Real Estate Co. Ltd.(a)

     700        21,801  

Kobe Steel Ltd.(a)

     37,300        295,115  

Konica Minolta, Inc.(a)

     44,200        188,968  

Kyokuto Kaihatsu Kogyo Co. Ltd.(a)

     2,700        32,784  

Macnica Holdings, Inc.

     1,700        48,028  

Marubeni Corp.

     136,200        1,837,457  

Mitsubishi Chemical Group Corp.

     65,100        384,319  

Mitsubishi UFJ Financial Group, Inc.

     496,000        3,159,955  

Mitsuboshi Belting Ltd.(a)

     3,600        106,439  

Mitsui OSK Lines Ltd.(a)

     61,700        1,534,503  

Mitsui-Soko Holdings Co. Ltd.(a)

     1,200        35,390  

MIXI, Inc.

     1,600        32,002  

Mizuho Financial Group, Inc.

     106,060        1,496,586  

MS&AD Insurance Group Holdings, Inc.

     23,800        734,261  

NGK Spark Plug Co. Ltd.(a)

     20,100        413,206  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nippon Denko Co. Ltd.(a)

     17,700      $ 47,478  

Nippon Electric Glass Co. Ltd.

     3,200        61,288  

Nippon Pillar Packing Co. Ltd.(a)

     2,800        78,894  

Nippon Soda Co. Ltd.

     900        31,208  

Nippon Steel Corp.

     81,900        1,919,964  

Nippon Steel Trading Corp.

     2,000        139,605  

Nippon Yusen KK(a)

     86,200        2,000,690  

Nishimatsu Construction Co. Ltd.(a)

     4,400        113,232  

Nitto Kogyo Corp.(a)

     1,200        23,821  

Nittoc Construction Co. Ltd.

     26,100        190,617  

NOK Corp.(a)

     5,400        59,360  

NS United Kaiun Kaisha Ltd.(a)

     900        27,827  

Pacific Industrial Co. Ltd.(a)

     3,100        26,880  

PHC Holdings Corp.(a)

     3,900        41,963  

Press Kogyo Co. Ltd.

     17,200        64,359  

Sanyo Special Steel Co. Ltd.(a)

     2,400        44,217  

SBI Holdings, Inc.(a)

     19,400        382,490  

Sekisui House Ltd.

     40,200        814,934  

Seven Bank Ltd.(a)

     41,400        82,433  

Sharp Corp.(a)

     27,300        191,381  

SoftBank Corp.(a)

     459,800        5,282,397  

Sojitz Corp.

     21,280        441,781  

Sompo Holdings, Inc.

     19,400        765,563  

Sumitomo Chemical Co. Ltd.(a)

     88,400        295,574  

Sumitomo Corp.

     116,700        2,052,706  

Sumitomo Forestry Co. Ltd.

     19,200        377,970  

Sumitomo Heavy Industries Ltd.

     8,800        214,231  

Sumitomo Metal Mining Co. Ltd.

     19,800        751,147  

Sumitomo Mitsui Financial Group, Inc.

     66,100        2,631,286  

Sumitomo Mitsui Trust Holdings, Inc.

     19,700        672,159  

T&D Holdings, Inc.(a)

     22,000        271,260  

Takeda Pharmaceutical Co. Ltd.

     85,600        2,797,806  

Tama Home Co. Ltd.(a)

     2,600        71,501  

Tokai Rika Co. Ltd.

     2,900        35,452  

Tokyo Seimitsu Co. Ltd.

     1,600        61,552  

Tosoh Corp.

     24,100        325,402  

Toyo Seikan Group Holdings Ltd.(a)

     20,100        275,773  

Toyo Tire Corp.(a)

     4,900        56,883  

TPR Co. Ltd.(a)

     3,200        32,195  

TS Tech Co. Ltd.

     3,200        40,370  

UBE Corp.(a)

     2,200        33,970  

YAMABIKO Corp.

     2,700        26,698  

Yamaha Motor Co. Ltd.

     19,700        512,150  

Yamaichi Electronics Co. Ltd.(a)

     1,500        22,169  
     

 

 

 
Total Japan

 

     47,277,781  
Netherlands – 1.5%

 

Aegon NV

     65,279        280,214  

ASR Nederland NV

     7,662        305,838  

BE Semiconductor Industries NV

     5,075        441,650  

Heijmans NV, CVA

     3,482        47,817  

Koninklijke KPN NV

     345,190        1,221,103  

Koninklijke Vopak NV

     7,968        281,260  

NN Group NV

     15,673        569,754  

OCI NV(a)

     33,940        1,152,685  

Ordina NV

     12,146      78,648  

Randstad NV(a)

     18,083        1,072,687  

RHI Magnesita NV

     4,149        114,913  

SBM Offshore NV

     15,899        236,215  

Signify NV(b)

     8,656        288,148  
     

 

 

 
Total Netherlands

 

     6,090,932  
Norway – 2.2%

 

AF Gruppen ASA

     16,045        228,271  

Aker BP ASA(a)

     41,770        1,022,205  

Atea ASA*

     8,864        108,334  

Austevoll Seafood ASA

     11,575        103,779  

Belships ASA

     39,674        76,521  

DNB Bank ASA

     88,078        1,575,600  

Entra ASA(b)

     9,830        94,892  

Europris ASA(b)

     10,385        72,039  

Gjensidige Forsikring ASA(a)

     26,222        428,892  

Leroy Seafood Group ASA

     31,903        165,408  

MPC Container Ships ASA

     84,743        135,007  

Norsk Hydro ASA

     105,868        786,446  

Salmar ASA

     7,673        333,937  

SpareBank 1 Nord Norge(a)

     10,278        86,459  

SpareBank 1 Oestlandet

     4,764        51,765  

SpareBank 1 SR-Bank ASA

     5,075        58,634  

Storebrand ASA

     17,080        130,989  

Telenor ASA

     216,409        2,535,389  

Veidekke ASA

     19,179        203,636  

Yara International ASA

     18,902        819,205  
     

 

 

 
Total Norway

 

     9,017,408  
Portugal – 0.6%

 

Altri SGPS SA(a)

     6,019        31,036  

EDP – Energias de Portugal SA

     181,936        991,484  

Galp Energia SGPS SA

     43,982        499,823  

Navigator Co. SA

     54,787        196,189  

NOS SGPS SA

     39,741        182,033  

REN – Redes Energeticas Nacionais SGPS SA

     100,715        295,439  

Sonae SGPS SA

     148,148        161,760  
     

 

 

 
Total Portugal

 

     2,357,764  
Singapore – 2.7%

 

Aztech Global Ltd.

     86,600        52,759  

CapitaLand Ascendas REIT

     368,500        792,682  

CapitaLand Ascott Trust

     189,200        141,592  

Capitaland India Trust(a)

     90,500        74,194  

CapitaLand Integrated Commercial Trust

     546,400        813,713  

Frasers Centrepoint Trust

     84,800        146,058  

Frasers Logistics & Commercial Trust

     385,000        379,339  

Geo Energy Resources Ltd.(a)

     221,000        54,853  

Kenon Holdings Ltd.

     5,849        171,215  

Keppel Corp. Ltd.

     92,000        389,575  

Keppel DC REIT

     113,300        175,547  

Keppel Infrastructure Trust(a)

     796,321        314,444  

Keppel REIT

     347,500        231,309  

Mapletree Industrial Trust

     240,700        429,062  

Mapletree Logistics Trust(a)

     243,500        313,177  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  

Mapletree Pan Asia Commercial Trust

     261,700      $ 354,300  

NetLink NBN Trust

     495,800        320,701  

Olam Group Ltd.

     276,000        325,915  

OUE Commercial Real Estate Investment Trust

     431,800        102,303  

Oversea-Chinese Banking Corp. Ltd.

     236,992        2,204,950  

PARAGON REIT(a)

     299,600        212,946  

Samudera Shipping Line Ltd.

     85,700        81,217  

Singapore Technologies Engineering Ltd.

     239,500        659,298  

Singapore Telecommunications Ltd.

     18,600        34,555  

Suntec Real Estate Investment Trust(a)

     260,100        279,751  

United Overseas Bank Ltd.

     88,400        1,978,703  

Venture Corp. Ltd.

     17,500        232,579  
     

 

 

 
Total Singapore

 

     11,266,737  
Spain – 5.6%

 

Acerinox SA

     23,943        246,446  

ACS Actividades de Construccion y Servicios SA

     32,581        1,038,920  

Atresmedia Corp. de Medios de Comunicacion SA

     32,775        123,704  

Banco Bilbao Vizcaya Argentaria SA(a)

     271,420        1,937,684  

Banco Santander SA(a)

     507,666        1,889,623  

Bankinter SA(a)

     35,363        200,784  

CaixaBank SA

     251,901        980,861  

Cia de Distribucion Integral Logista Holdings SA

     20,047        500,941  

Enagas SA(a)

     29,099        559,579  

Ence Energia y Celulosa SA(a)

     17,428        64,946  

Endesa SA

     153,515        3,335,727  

Fluidra SA(a)

     10,252        180,329  

Fomento de Construcciones y Contratas SA

     26,730        261,367  

Iberdrola SA

     312,553        3,899,998  

Inmobiliaria Colonial Socimi SA

     21,438        135,672  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)

     79,988        86,251  

Mapfre SA(a)

     216,787        437,611  

Merlin Properties Socimi SA

     74,837        655,332  

Naturgy Energy Group SA(a)

     73,986        2,230,603  

Prosegur Cash SA(a)(b)

     2,619        2,009  

Red Electrica Corp. SA

     38,924        685,081  

Repsol SA

     84,844        1,307,556  

Sacyr SA(a)

     19,697        63,343  

Telefonica SA

     508,126        2,193,308  
     

 

 

 
Total Spain

 

     23,017,675  
Sweden – 1.7%

 

Avanza Bank Holding AB(a)

     5,235        122,677  

Betsson AB, Class B*

     5,253        49,949  

Bilia AB, Class A

     7,033        86,814  

Clas Ohlson AB, Class B(a)

     5,856        43,541  

Cloetta AB, Class B

     20,430        43,108  

Coor Service Management Holding AB(b)

     4,959        31,635  

Corem Property Group AB, Class B(a)

     68,693        47,928  

Dios Fastigheter AB

     5,892        39,121  

Fabege AB(a)

     16,770        128,764  

Hexpol AB

     17,060        211,408  

Husqvarna AB, Class B(a)

     21,282        184,384  

Inwido AB

     4,602        48,907  

JM AB(a)

     4,476      74,157  

NCC AB, Class B

     5,717        50,667  

Peab AB, Class B

     18,233        91,169  

Resurs Holding AB(b)

     19,416        43,252  

Samhallsbyggnadsbolaget i Norden AB, Class D(a)

     24,322        37,763  

Securitas AB, Class B(a)

     21,484        191,189  

Skandinaviska Enskilda Banken AB, Class A*(a)

     85,403        941,780  

SKF AB, Class B(a)

     17,837        350,907  

SSAB AB, Class B

     104,293        743,459  

Svenska Handelsbanken AB, Class A(a)

     76,845        665,772  

Swedbank AB, Class A(a)

     72,134        1,183,619  

Tele2 AB, Class B(a)

     52,874        526,468  

Telia Co. AB(a)

     415,931        1,057,722  

Thule Group AB(a)(b)

     7,161        175,891  

Wihlborgs Fastigheter AB

     10,609        81,182  
     

 

 

 
Total Sweden

 

     7,253,233  
Switzerland – 7.3%

 

Allreal Holding AG, Registered Shares

     1,319        222,637  

Baloise Holding AG, Registered Shares

     2,584        402,782  

Cembra Money Bank AG

     1,114        87,615  

EFG International AG*

     11,893        116,515  

Helvetia Holding AG, Registered Shares

     2,984        416,137  

Holcim AG, Registered Shares*

     34,458        2,221,637  

Julius Baer Group Ltd.

     8,268        564,021  

Kuehne & Nagel International AG, Registered Shares

     5,627        1,674,765  

Novartis AG, Registered Shares

     148,794        13,642,368  

OC Oerlikon Corp. AG, Registered Shares

     28,833        162,699  

Sulzer AG, Registered Shares(a)

     2,363        200,333  

Swiss Life Holding AG, Registered Shares

     1,353        834,119  

Swiss Prime Site AG, Registered Shares

     4,172        347,305  

Swiss Re AG

     18,669        1,917,683  

Swisscom AG, Registered Shares

     4,166        2,659,527  

Vontobel Holding AG, Registered Shares

     2,108        136,834  

Zurich Insurance Group AG

     9,178        4,397,363  
     

 

 

 
Total Switzerland

 

     30,004,340  
United Kingdom – 11.5%

 

Anglo American PLC

     110,283        3,651,705  

Ashmore Group PLC

     58,411        172,322  

Assura PLC

     195,545        118,134  

Aviva PLC

     154,314        771,220  

Bellway PLC

     7,677        209,493  

BP PLC

     922,875        5,828,682  

British American Tobacco PLC

     167,197        5,872,187  

British Land Co. PLC

     51,265        245,813  

BT Group PLC

     612,376        1,103,957  

Central Asia Metals PLC

     21,384        62,531  

Close Brothers Group PLC

     15,019        167,318  

CLS Holdings PLC

     21,167        35,175  

CMC Markets PLC(a)(b)

     12,549        27,277  

Crest Nicholson Holdings PLC

     19,106        51,594  

Currys PLC

     69,461        50,457  

DFS Furniture PLC(a)

     26,089        43,935  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  

Diversified Energy Co. PLC

     127,711      $ 149,381  

Domino’s Pizza Group PLC

     15,469        54,817  

DS Smith PLC

     61,657        239,762  

Dunelm Group PLC(a)

     9,277        126,750  

Empiric Student Property PLC

     35,683        39,841  

FDM Group Holdings PLC

     4,813        43,145  

Forterra PLC(b)

     13,867        34,052  

Games Workshop Group PLC

     1,500        178,791  

Halfords Group PLC

     16,973        36,684  

Hargreaves Lansdown PLC

     17,749        175,434  

Hilton Food Group PLC

     4,941        42,276  

HSBC Holdings PLC

     1,228,945        8,352,852  

Ibstock PLC(b)

     26,750        57,054  

Imperial Brands PLC

     108,327        2,496,659  

Investec PLC

     33,009        183,500  

ITV PLC

     282,400        289,116  

J. Sainsbury PLC

     153,737        529,776  

Kingfisher PLC

     115,260        372,245  

Land Securities Group PLC

     51,521        395,724  

Legal & General Group PLC

     353,482        1,044,143  

Liontrust Asset Management PLC

     4,818        60,883  

Lloyds Banking Group PLC

     2,513,060        1,481,392  

Londonmetric Property PLC

     89,786        194,944  

ME Group International PLC

     32,606        50,596  

Moneysupermarket.com Group PLC

     52,556        161,807  

Morgan Advanced Materials PLC

     11,997        41,979  

Morgan Sindall Group PLC

     2,226        46,515  

National Grid PLC

     304,712        4,131,186  

Ninety One PLC(a)

     16,850        38,585  

OSB Group PLC

     37,438        222,934  

Pagegroup PLC

     30,228        170,581  

Pets at Home Group PLC

     20,387        93,016  

Primary Health Properties PLC(a)

     51,668        64,652  

Quilter PLC(b)

     59,210        61,687  

Redde Northgate PLC

     31,843        136,031  

Redrow PLC

     25,225        148,524  

Schroders PLC

     41,647        236,874  

Serica Energy PLC

     20,456        56,024  

Severn Trent PLC

     11,662        415,137  

SSE PLC

     61,442        1,369,738  

St. James’s Place PLC

     15,691        234,948  

TBC Bank Group PLC

     4,791        132,694  

Tesco PLC

     369,638        1,214,352  

TP ICAP Group PLC

     29,529        65,757  

Travis Perkins PLC

     9,959      117,769  

Tritax Big Box REIT PLC

     76,252        131,900  

Tyman PLC

     15,844        47,115  

United Utilities Group PLC

     38,083        499,130  

Vesuvius PLC

     17,474        89,404  

Vodafone Group PLC

     2,294,185        2,533,124  

Watkin Jones PLC

     32,547        35,736  

Wickes Group PLC

     28,555        48,794  

Workspace Group PLC

     10,825        58,464  
     

 

 

 
Total United Kingdom

 

     47,646,074  
United States – 2.2%

 

GSK PLC

     274,890        4,856,996  

Stellantis NV(a)

     244,779        4,450,774  
     

 

 

 
Total United States

 

     9,307,770  
TOTAL COMMON STOCKS
(Cost: $380,598,603)

 

     407,192,772  
EXCHANGE-TRADED FUND – 0.3%

 

United States – 0.3%

 

WisdomTree International LargeCap Dividend Fund(c)

 

(Cost: $894,280)      22,580        1,054,486  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 9.6%

 

United States – 9.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(d)

     
(Cost: $39,582,958)      39,582,958        39,582,958  
TOTAL INVESTMENTS IN SECURITIES – 108.4%
(Cost: $421,075,841)

 

     447,830,216  

Other Assets less Liabilities – (8.4)%

 

     (34,643,437
     

 

 

 
NET ASSETS – 100.0%

 

   $ 413,186,779  

 

* 

Non-income producing security.

 

 

Share amount represents a fractional share.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $55,711,563. The total market value of the collateral held by the Fund was $58,784,559. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $19,201,601.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree International LargeCap Dividend Fund

  $ 882,052     $ 10,115,645     $ 9,560,803     $ (520,832   $ 138,424     $ 1,054,486     $ 144,253  

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Schedule of Investments (concluded)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Deutsche Bank AG

    4/3/2023       326,525       AUD       1,500,000       DKK     $     $ (78

Royal Bank of Canada

    4/3/2023       454,077       AUD       280,000       EUR             (88
                                            $     $ (166

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 407,192,772      $      $      $ 407,192,772  

Exchange-Traded Fund

     1,054,486                      1,054,486  

Investment of Cash Collateral for Securities Loaned

            39,582,958               39,582,958  

Total Investments in Securities

   $ 408,247,258      $ 39,582,958      $      $ 447,830,216  

Liabilities:

        

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (166    $      $ (166

Total – Net

   $ 408,247,258      $ 39,582,792      $      $ 447,830,050  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Schedule of Investments

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.8%

 

Australia – 13.1%

 

ANZ Group Holdings Ltd.

     222,964      $ 3,424,141  

Aristocrat Leisure Ltd.

     10,820        269,577  

BHP Group Ltd.

     787,779        24,919,263  

Coles Group Ltd.

     69,409        837,690  

Commonwealth Bank of Australia

     86,478        5,694,562  

CSL Ltd.

     5,426        1,047,701  

Goodman Group

     34,284        431,451  

Macquarie Group Ltd.

     14,328        1,685,665  

National Australia Bank Ltd.

     185,306        3,440,294  

Rio Tinto Ltd.

     155,576        11,041,598  

Santos Ltd.

     137,725        636,465  

Telstra Group Ltd.

     835,389        2,361,098  

Transurban Group

     95,551        909,373  

Wesfarmers Ltd.

     44,826        1,508,617  

Westpac Banking Corp.

     158,162        2,294,423  

Woodside Energy Group Ltd.

     147,488        3,293,329  

Woolworths Group Ltd.

     31,099        789,403  
     

 

 

 
Total Australia

 

     64,584,650  
Austria – 0.1%

 

OMV AG

     15,597        716,111  
Belgium – 0.7%

 

Anheuser-Busch InBev SA

     15,064        1,003,744  

KBC Group NV

     28,144        1,935,527  

UCB SA

     3,250        291,093  
     

 

 

 
Total Belgium

 

     3,230,364  
China – 0.7%

 

BOC Hong Kong Holdings Ltd.

     616,134        1,919,054  

Prosus NV*

     6,530        510,379  

Wilmar International Ltd.

     263,500        834,369  
     

 

 

 
Total China

 

     3,263,802  
Denmark – 1.4%

 

AP Moller – Maersk A/S, Class B

     709        1,286,872  

Carlsberg A/S, Class B

     2,552        395,647  

Coloplast A/S, Class B

     4,261        560,423  

Novo Nordisk A/S, Class B

     21,772        3,447,804  

Orsted A/S(a)

     7,292        620,451  

Tryg A/S

     20,336        444,592  
     

 

 

 
Total Denmark

 

     6,755,789  
Finland – 1.4%

 

Fortum Oyj*

     58,011        889,613  

Kone Oyj, Class B

     17,022        887,690  

Neste Oyj(b)

     11,960        590,315  

Nordea Bank Abp(b)

     217,503        2,320,692  

Sampo Oyj, Class A

     33,616        1,587,981  

UPM-Kymmene Oyj*

     17,621        592,517  
     

 

 

 
Total Finland

 

     6,868,808  
France – 13.7%

 

Air Liquide SA

     9,392        1,573,447  

Airbus SE

     9,390        1,257,674  

AXA SA

     183,899        5,627,284  

BNP Paribas SA

     79,948      4,795,513  

Capgemini SE

     2,845        527,780  

Cie de Saint-Gobain

     16,494        937,569  

Cie Generale des Etablissements Michelin SCA

     26,434        808,302  

Danone SA(b)

     23,456        1,460,475  

Engie SA(b)

     202,057        3,199,355  

EssilorLuxottica SA

     5,639        1,016,997  

Hermes International

     845        1,711,245  

Kering SA

     2,787        1,816,762  

L’Oreal SA

     9,879        4,413,962  

Legrand SA

     5,500        502,418  

LVMH Moet Hennessy Louis Vuitton SE

     11,835        10,857,409  

Orange SA

     248,173        2,952,961  

Pernod Ricard SA

     8,381        1,900,325  

Publicis Groupe SA

     9,338        728,227  

Sanofi

     43,490        4,736,311  

Schneider Electric SE

     10,999        1,836,455  

Societe Generale SA

     51,551        1,164,118  

Thales SA

     6,062        898,009  

TotalEnergies SE(b)

     165,108        9,751,182  

Veolia Environnement SA

     26,267        810,473  

Vinci SA

     18,365        2,109,394  
     

 

 

 
Total France

 

     67,393,647  
Germany – 9.6%

 

adidas AG

     6,034        1,067,127  

Allianz SE, Registered Shares

     20,907        4,833,626  

BASF SE

     56,080        2,946,483  

Bayer AG, Registered Shares

     32,947        2,101,898  

Bayerische Motoren Werke AG

     37,477        4,109,962  

Deutsche Bank AG, Registered Shares

     40,134        407,955  

Deutsche Boerse AG

     3,522        686,661  

Deutsche Post AG, Registered Shares

     53,712        2,514,534  

Deutsche Telekom AG, Registered Shares

     224,763        5,457,730  

E.ON SE

     134,216        1,676,918  

Hannover Rueck SE

     5,432        1,064,353  

Hapag-Lloyd AG(a)(b)

     15,581        5,112,249  

Henkel AG & Co. KGaA

     7,224        525,851  

Infineon Technologies AG

     12,144        497,144  

Mercedes-Benz Group AG

     77,834        5,985,351  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     5,018        1,758,207  

RWE AG

     15,159        652,851  

SAP SE

     21,480        2,708,486  

Siemens Healthineers AG(a)

     17,981        1,035,770  

Vantage Towers AG

     10,273        377,468  

Volkswagen AG

     11,334        1,945,584  
     

 

 

 
Total Germany

 

     47,466,208  
Hong Kong – 3.2%

 

AIA Group Ltd.

     260,604        2,743,829  

CLP Holdings Ltd.

     128,000        924,541  

Hang Seng Bank Ltd.

     62,418        888,170  

Henderson Land Development Co. Ltd.

     363,219        1,256,237  

Hong Kong & China Gas Co. Ltd.

     913,925        804,492  

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Schedule of Investments (continued)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2023

 

 

 

Investments    Shares      Value  

Hong Kong Exchanges & Clearing Ltd.

     38,824      $ 1,722,115  

Link REIT(b)

     214,355        1,378,981  

MTR Corp. Ltd.

     330,938        1,595,679  

Sun Hung Kai Properties Ltd.

     212,942        2,983,920  

Swire Properties Ltd.

     307,200        790,507  

Techtronic Industries Co. Ltd.

     40,000        432,359  
     

 

 

 
Total Hong Kong

 

     15,520,830  
Ireland – 0.2%

 

CRH PLC

     23,940        1,208,797  
Israel – 0.2%

 

Bank Hapoalim BM

     29,915        247,170  

Bank Leumi Le-Israel BM

     103,282        774,475  
     

 

 

 
Total Israel

 

     1,021,645  
Italy – 1.6%

 

Assicurazioni Generali SpA

     84,363        1,684,641  

Eni SpA(b)

     241,465        3,385,755  

Ferrari NV

     2,247        608,604  

Snam SpA

     259,209        1,376,829  

Terna – Rete Elettrica Nazionale(b)

     124,374        1,022,364  
     

 

 

 
Total Italy

 

     8,078,193  
Japan – 15.4%

 

Aeon Co. Ltd.

     18,745        361,407  

Asahi Group Holdings Ltd.

     12,735        471,163  

Astellas Pharma, Inc.

     48,900        691,853  

Bandai Namco Holdings, Inc.

     20,100        430,196  

Bridgestone Corp.

     21,455        865,196  

Canon, Inc.(b)

     40,736        904,615  

Chugai Pharmaceutical Co. Ltd.(b)

     53,400        1,312,029  

Dai-ichi Life Holdings, Inc.(b)

     33,700        616,572  

Daiichi Sankyo Co. Ltd.

     12,000        434,773  

Daikin Industries Ltd.

     2,800        497,663  

Daiwa House Industry Co. Ltd.

     22,900        535,807  

Denso Corp.

     18,400        1,029,012  

East Japan Railway Co.(b)

     5,900        325,167  

Eisai Co. Ltd.(b)

     4,700        265,000  

FANUC Corp.

     22,875        818,131  

Fast Retailing Co. Ltd.(b)

     2,100        455,692  

FUJIFILM Holdings Corp.

     10,300        518,367  

Fujitsu Ltd.

     2,800        375,220  

Hitachi Ltd.

     18,400        1,002,606  

Honda Motor Co. Ltd.(b)

     60,200        1,587,662  

Hoya Corp.

     2,800        306,319  

Inpex Corp.

     60,000        629,799  

ITOCHU Corp.(b)

     48,700        1,573,812  

Japan Post Holdings Co. Ltd.

     163,600        1,323,281  

Japan Tobacco, Inc.

     108,609        2,283,327  

Kao Corp.

     12,500        485,292  

KDDI Corp.

     91,080        2,801,040  

Keyence Corp.

     1,000        484,259  

Kirin Holdings Co. Ltd.

     26,600        418,917  

Komatsu Ltd.

     34,867        858,510  

Marubeni Corp.

     117,000        1,578,432  

Mitsubishi Corp.

     76,605      2,734,618  

Mitsubishi Electric Corp.

     55,181        654,468  

Mitsubishi Estate Co. Ltd.

     28,100        332,855  

Mitsubishi Heavy Industries Ltd.(b)

     7,000        256,458  

Mitsubishi UFJ Financial Group, Inc.

     521,800        3,324,324  

Mitsui & Co. Ltd.

     81,900        2,532,876  

Mitsui Fudosan Co. Ltd.

     20,700        386,346  

Mizuho Financial Group, Inc.

     112,114        1,582,013  

MS&AD Insurance Group Holdings, Inc.

     25,800        795,964  

Murata Manufacturing Co. Ltd.

     14,810        894,676  

Nintendo Co. Ltd.(b)

     40,300        1,553,680  

Nippon Steel Corp.

     63,800        1,495,650  

Nippon Telegraph & Telephone Corp.

     143,904        4,283,926  

Ono Pharmaceutical Co. Ltd.

     15,300        317,749  

Otsuka Holdings Co. Ltd.

     12,200        385,278  

Panasonic Holdings Corp.

     63,784        566,479  

Recruit Holdings Co. Ltd.

     8,500        233,113  

Secom Co. Ltd.

     5,600        343,515  

Sekisui House Ltd.

     28,200        571,670  

Seven & I Holdings Co. Ltd.

     16,300        731,779  

Shin-Etsu Chemical Co. Ltd.

     65,000        2,087,873  

Shionogi & Co. Ltd.

     6,200        278,439  

SMC Corp.

     950        498,448  

SoftBank Corp.(b)

     373,600        4,292,091  

Sompo Holdings, Inc.

     18,100        714,263  

Subaru Corp.

     19,200        305,045  

Sumitomo Corp.

     97,010        1,706,367  

Sumitomo Mitsui Financial Group, Inc.

     64,394        2,563,374  

Suzuki Motor Corp.(b)

     9,317        336,305  

Takeda Pharmaceutical Co. Ltd.

     67,100        2,193,140  

TDK Corp.

     7,600        269,817  

Tokio Marine Holdings, Inc.

     99,400        1,902,260  

Tokyo Electron Ltd.

     16,950        2,042,813  

Toshiba Corp.

     9,100        303,926  

Toyota Motor Corp.(b)

     413,465        5,840,515  
     

 

 

 
Total Japan

 

     75,553,232  
Netherlands – 1.7%

 

ASML Holding NV

     3,712        2,521,370  

Heineken Holding NV

     6,076        558,137  

Heineken NV

     13,206        1,421,279  

JDE Peet’s NV(b)

     11,730        341,796  

Koninklijke Ahold Delhaize NV

     30,687        1,049,873  

Koninklijke DSM NV

     2,925        345,434  

NN Group NV

     16,050        583,460  

Universal Music Group NV(b)

     33,592        850,540  

Wolters Kluwer NV

     5,396        682,100  
     

 

 

 
Total Netherlands

 

     8,353,989  
Norway – 1.5%

 

Aker BP ASA(b)

     36,791        900,357  

DNB Bank ASA

     100,925        1,805,416  

Equinor ASA

     92,866        2,648,602  

Telenor ASA

     181,060        2,121,250  
     

 

 

 
Total Norway

 

     7,475,625  

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2023

 

 

 

Investments    Shares      Value  
Portugal – 0.3%

 

EDP – Energias de Portugal SA

     161,543      $ 880,350  

Jeronimo Martins SGPS SA

     31,084        730,133  
     

 

 

 
Total Portugal

 

     1,610,483  
Singapore – 2.1%

 

CapitaLand Investment Ltd.(b)

     250,600        693,624  

DBS Group Holdings Ltd.

     139,634        3,465,776  

Oversea-Chinese Banking Corp. Ltd.

     276,312        2,570,779  

Singapore Telecommunications Ltd.

     807,100        1,493,337  

United Overseas Bank Ltd.

     97,986        2,193,271  
     

 

 

 
Total Singapore

 

     10,416,787  
Spain – 4.0%

 

Banco Bilbao Vizcaya Argentaria SA(b)

     299,004        2,134,608  

Banco Santander SA(b)

     558,122        2,077,429  

CaixaBank SA

     284,153        1,106,445  

Endesa SA

     126,726        2,753,629  

Ferrovial SA

     15,191        447,100  

Iberdrola SA

     253,070        3,157,776  

Industria de Diseno Textil SA

     102,989        3,457,475  

Naturgy Energy Group SA(b)

     60,598        1,826,968  

Repsol SA

     65,439        1,008,500  

Telefonica SA(b)

     422,860        1,825,261  
     

 

 

 
Total Spain

 

     19,795,191  
Sweden – 1.8%

 

Assa Abloy AB, Class B

     17,689        423,565  

Atlas Copco AB, Class A

     42,462        538,640  

Atlas Copco AB, Class B

     34,494        396,449  

Epiroc AB, Class A(b)

     11,782        233,832  

EQT AB(b)

     12,427        252,386  

Essity AB, Class B(b)

     16,367        467,829  

Evolution AB(a)

     3,058        409,383  

Sandvik AB

     26,352        558,575  

Skandinaviska Enskilda Banken AB, Class A*(b)

     89,473        986,662  

Svenska Handelsbanken AB, Class A(b)

     75,059        650,298  

Swedbank AB, Class A(b)

     84,571        1,387,693  

Telefonaktiebolaget LM Ericsson, Class B(b)

     116,002        677,919  

Telia Co. AB(b)

     381,451        970,038  

Volvo AB, Class B(b)

     44,846        924,854  
     

 

 

 
Total Sweden

 

     8,878,123  
Switzerland – 10.8%

 

ABB Ltd., Registered Shares

     51,862        1,780,867  

Cie Financiere Richemont SA, Class A, Registered Shares

     10,012        1,598,983  

Geberit AG, Registered Shares

     906        504,992  

Givaudan SA, Registered Shares

     175        569,509  

Holcim AG, Registered Shares*

     27,183        1,752,590  

Kuehne & Nagel International AG, Registered Shares

     4,993        1,486,067  

Nestle SA, Registered Shares

     93,570        11,416,247  

Novartis AG, Registered Shares

     125,389        11,496,451  

Partners Group Holding AG

     898        842,216  

Roche Holding AG

     25,255        7,213,937  

Roche Holding AG, Bearer Shares(b)

     3,702      1,114,389  

SGS SA, Registered Shares

     357        785,865  

Sika AG, Registered Shares

     1,932        540,338  

Sonova Holding AG, Registered Shares

     1,189        349,587  

Swiss Life Holding AG, Registered Shares

     1,442        888,988  

Swiss Re AG

     21,120        2,169,450  

Swisscom AG, Registered Shares

     3,265        2,084,339  

UBS Group AG, Registered Shares

     91,895        1,940,402  

Zurich Insurance Group AG

     9,667        4,631,652  
     

 

 

 
Total Switzerland

 

     53,166,869  
United Kingdom – 13.7%

 

Anglo American PLC

     91,537        3,030,985  

Ashtead Group PLC

     5,787        354,762  

AstraZeneca PLC

     34,613        4,806,987  

Aviva PLC

     145,565        727,495  

BAE Systems PLC

     84,916        1,031,675  

Barclays PLC

     598,093        1,078,209  

BP PLC

     754,995        4,768,387  

British American Tobacco PLC

     132,689        4,660,219  

BT Group PLC

     503,549        907,770  

CNH Industrial NV

     26,978        412,688  

Compass Group PLC

     22,500        565,583  

Diageo PLC

     60,355        2,696,981  

HSBC Holdings PLC

     1,366,318        9,286,544  

Imperial Brands PLC

     85,048        1,960,138  

Legal & General Group PLC

     388,500        1,147,582  

Lloyds Banking Group PLC

     2,885,199        1,700,760  

London Stock Exchange Group PLC

     5,746        558,993  

National Grid PLC

     263,921        3,578,155  

Prudential PLC

     42,970        585,495  

Reckitt Benckiser Group PLC

     27,931        2,126,683  

RELX PLC

     55,962        1,811,505  

Shell PLC

     363,346        10,371,148  

SSE PLC

     50,264        1,120,545  

Standard Chartered PLC

     52,050        395,282  

Tesco PLC

     311,328        1,022,790  

Unilever PLC

     86,529        4,482,830  

Vodafone Group PLC

     1,898,561        2,096,296  
     

 

 

 
Total United Kingdom

 

     67,286,487  
United States – 1.6%

 

GSK PLC

     226,944        4,009,844  

Stellantis NV

     201,487        3,663,603  
     

 

 

 
Total United States               7,673,447  

TOTAL COMMON STOCKS

(Cost: $404,646,737)

              486,319,077  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree International MidCap Dividend Fund(c)

 

  
(Cost: $325,076)      5,896        344,680  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Schedule of Investments (concluded)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2023

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 7.3%

 

United States – 7.3%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 4.84%(d)

 

(Cost: $35,830,045)      35,830,045      $ 35,830,045  

TOTAL INVESTMENTS IN SECURITIES – 106.2%

(Cost: $440,801,858)

 

 

     522,493,802  

Other Assets less Liabilities – (6.2)%

        (30,659,394
     

 

 

 
NET ASSETS – 100.0%             $ 491,834,408  

 

* 

Non-income producing security.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $46,880,996 and the total market value of the collateral held by the Fund was $49,531,340. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $13,701,295.

 

(c) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES     

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree International MidCap Dividend Fund

  $     $ 2,118,550     $ 1,709,700     $ (83,774   $ 19,604     $ 344,680     $ 37,637  

 

FAIR VALUATION SUMMARY     

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

 

     

Common Stocks

   $ 486,319,077      $      $      $ 486,319,077  

Exchange-Traded Fund

     344,680                      344,680  

Investment of Cash Collateral for Securities Loaned

            35,830,045               35,830,045  

Total Investments in Securities

   $ 486,663,757      $ 35,830,045      $      $ 522,493,802  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Schedule of Investments

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.1%      
Australia – 11.3%      

AGL Energy Ltd.

     35,995      $ 194,067  

ALS Ltd.

     14,148        117,119  

Ampol Ltd.

     19,021        388,422  

Ansell Ltd.

     3,624        64,393  

APA Group

     86,428        585,798  

ASX Ltd.(a)

     9,660        420,666  

Aurizon Holdings Ltd.

     94,036        211,615  

Bank of Queensland Ltd.(a)

     31,630        137,485  

Bendigo & Adelaide Bank Ltd.(a)

     28,048        162,867  

BlueScope Steel Ltd.

     13,808        186,345  

Brambles Ltd.

     39,788        357,883  

Brickworks Ltd.(a)

     7,010        106,341  

carsales.com Ltd.

     10,390        153,996  

Challenger Ltd.

     20,749        86,715  

Charter Hall Group

     14,613        107,658  

Cochlear Ltd.

     974        154,402  

Computershare Ltd.

     12,039        174,083  

Dexus

     100,286        504,421  

Downer EDI Ltd.

     30,643        70,394  

Endeavour Group Ltd.(a)

     47,048        213,325  

GPT Group(a)

     80,575        228,812  

Harvey Norman Holdings Ltd.(a)

     103,672        248,575  

IDP Education Ltd.

     3,305        60,451  

IGO Ltd.

     7,123        60,921  

Iluka Resources Ltd.

     16,055        114,195  

Incitec Pivot Ltd.

     131,366        275,385  

Insurance Australia Group Ltd.

     46,530        146,157  

JB Hi-Fi Ltd.

     11,289        321,108  

Medibank Pvt Ltd.

     140,072        315,213  

Metcash Ltd.(a)

     76,254        196,624  

Mineral Resources Ltd.(a)

     2,369        127,867  

Mirvac Group(a)

     183,382        255,466  

New Hope Corp. Ltd.

     82,227        312,806  

NIB Holdings Ltd.(a)

     21,321        100,672  

Nine Entertainment Co. Holdings Ltd.(a)

     112,445        148,361  

Northern Star Resources Ltd.

     25,914        213,651  

Orica Ltd.

     9,469        97,601  

Origin Energy Ltd.

     85,965        477,297  

OZ Minerals Ltd.

     3,235        60,904  

Premier Investments Ltd.

     6,200        108,337  

QBE Insurance Group Ltd.

     31,711        309,869  

Qube Holdings Ltd.(a)

     41,214        79,221  

REA Group Ltd.(a)

     1,764        163,074  

Reece Ltd.(a)

     9,767        113,494  

Scentre Group

     248,129        457,007  

SEEK Ltd.

     8,541        136,830  

Seven Group Holdings Ltd.(a)

     8,293        128,303  

Sonic Healthcare Ltd.

     20,452        477,229  

South32 Ltd.

     600,689        1,758,102  

Steadfast Group Ltd.

     35,695        139,854  

Stockland

     252,023        671,794  

Suncorp Group Ltd.

     37,934        307,670  

TPG Telecom Ltd.(a)

     66,319      216,756  

Treasury Wine Estates Ltd.

     16,848        147,481  

Vicinity Ltd.

     223,693        291,397  

Viva Energy Group Ltd.(b)

     131,087        266,021  

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

     8,988        181,795  

Whitehaven Coal Ltd.

     59,812        269,598  

Worley Ltd.

     16,350        157,796  
     

 

 

 
Total Australia               14,541,689  
Austria – 1.7%      

Andritz AG

     4,739        320,763  

BAWAG Group AG*(b)

     6,552        317,909  

Erste Group Bank AG

     23,921        792,663  

EVN AG

     5,254        116,733  

Telekom Austria AG*

     22,102        166,888  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     5,257        141,359  

Voestalpine AG

     7,653        260,081  

Wienerberger AG

     3,033        87,784  
     

 

 

 
Total Austria               2,204,180  
Belgium – 2.6%      

Aedifica SA

     1,333        107,314  

Ageas SA/NV

     18,456        799,254  

Cofinimmo SA

     2,658        235,499  

D’ieteren Group

     685        133,141  

Elia Group SA/NV

     1,052        138,982  

Etablissements Franz Colruyt NV

     5,046        147,581  

Groupe Bruxelles Lambert NV

     5,376        458,499  

Melexis NV

     1,768        204,378  

Proximus SADP

     34,925        337,476  

Solvay SA

     3,576        409,300  

Umicore SA

     4,963        168,286  

Warehouses De Pauw CVA

     5,303        157,403  
     

 

 

 
Total Belgium               3,297,113  
Burkina Faso – 0.2%      

Endeavour Mining PLC

     8,735        215,792  
Denmark – 0.9%      

Chr Hansen Holding A/S

     1,893        143,841  

Novozymes A/S, Class B

     2,654        135,825  

Pandora A/S

     3,550        339,335  

Royal Unibrew A/S

     1,579        137,714  

Topdanmark A/S*

     8,135        435,192  
     

 

 

 
Total Denmark               1,191,907  
Egypt – 0.1%      

Energean PLC

     4,990        80,332  
Finland – 1.8%      

Elisa Oyj

     9,527        575,080  

Huhtamaki Oyj

     2,470        91,777  

Kesko Oyj, Class A(a)

     6,194        134,320  

Kesko Oyj, Class B

     12,052        259,325  

Kojamo Oyj

     6,149        72,484  

Metsa Board Oyj, Class B(a)

     13,788        111,151  

Metso Outotec Oyj

     22,010        240,084  

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Orion Oyj, Class B

     3,178      $ 142,218  

Stora Enso Oyj, Class R

     20,234        263,359  

TietoEVRY Oyj

     5,756        180,854  

Valmet Oyj(a)

     8,055        261,141  
     

 

 

 
Total Finland               2,331,793  
France – 5.6%      

ALD SA(b)

     31,557        370,279  

Arkema SA

     2,090        206,178  

BioMerieux

     974        102,646  

Bouygues SA

     19,445        656,808  

Bureau Veritas SA

     8,142        234,150  

Carrefour SA

     20,137        407,584  

Dassault Aviation SA

     1,305        258,894  

Eiffage SA

     2,622        284,127  

Elis SA

     7,322        140,326  

Eramet SA

     1,385        144,755  

Eurazeo SE

     1,732        123,253  

Gaztransport Et Technigaz SA

     1,499        153,413  

Gecina SA

     3,355        348,284  

Getlink SE

     5,759        95,042  

Imerys SA

     2,759        119,301  

Ipsen SA

     941        103,769  

Klepierre SA(a)

     20,298        459,800  

La Francaise des Jeux SAEM(b)

     9,540        397,902  

Lagardere SA

     3,722        84,110  

Nexans SA

     763        75,850  

Remy Cointreau SA

     566        103,308  

Rexel SA*

     18,570        442,850  

Rothschild & Co.

     4,004        202,499  

Rubis SCA

     6,777        181,642  

Societe BIC SA

     1,361        85,910  

Sodexo SA

     1,982        193,930  

Sopra Steria Group SACA

     479        100,595  

SPIE SA

     4,008        116,439  

Technip Energies NV

     5,628        120,181  

Valeo

     4,466        91,753  

Verallia SA(b)

     3,731        159,304  

Vivendi SE

     43,109        435,573  

Wendel SE

     1,128        119,304  
     

 

 

 
Total France               7,119,759  
Germany – 4.8%      

Aurubis AG

     956        88,347  

Bechtle AG

     1,653        79,002  

Brenntag SE

     3,071        230,885  

Carl Zeiss Meditec AG, Bearer Shares

     701        97,485  

DWS Group GmbH & Co. KGaA(b)

     18,435        567,213  

Encavis AG

     3,874        66,416  

Evonik Industries AG

     23,696        498,414  

Fielmann AG

     3,431        143,066  

Freenet AG

     7,715        200,748  

GEA Group AG

     4,176        190,328  

HeidelbergCement AG

     8,542        624,203  

Hochtief AG

     2,205        184,127  

HUGO BOSS AG

     1,491      107,108  

K & S AG, Registered Shares

     2,260        48,113  

MTU Aero Engines AG

     659        165,103  

Puma SE

     2,724        168,276  

Rheinmetall AG

     751        223,237  

Scout24 SE(b)

     1,313        78,030  

Sixt SE

     1,200        159,838  

Stroeer SE & Co. KGaA

     2,280        120,536  

Suedzucker AG

     9,233        155,283  

Synlab AG

     5,117        53,259  

Talanx AG

     14,008        649,851  

Telefonica Deutschland Holding AG

     211,062        650,548  

United Internet AG, Registered Shares

     4,157        71,675  

Wacker Chemie AG

     3,058        496,361  
     

 

 

 
Total Germany               6,117,452  
Hong Kong – 3.8%      

Bank of East Asia Ltd.(a)

     117,380        149,230  

Champion REIT(a)

     301,000        129,220  

Hang Lung Group Ltd.

     86,000        151,843  

Hang Lung Properties Ltd.

     267,000        499,310  

Hysan Development Co. Ltd.

     70,000        198,855  

New World Development Co. Ltd.

     254,000        681,113  

PCCW Ltd.

     1,227,000        612,722  

Power Assets Holdings Ltd.

     210,000        1,126,249  

Sino Land Co. Ltd.

     590,566        798,962  

Swire Pacific Ltd., Class A

     40,000        307,263  

Swire Pacific Ltd., Class B

     157,500        194,820  
     

 

 

 
Total Hong Kong               4,849,587  
Ireland – 0.5%      

AIB Group PLC

     35,609        144,768  

Glanbia PLC

     6,947        100,836  

Kingspan Group PLC

     1,676        114,789  

Smurfit Kappa Group PLC

     8,314        301,061  
     

 

 

 
Total Ireland               661,454  
Israel – 2.1%      

Alony Hetz Properties & Investments Ltd.

     7,699        59,977  

Amot Investments Ltd.

     30,254        153,175  

Ashtrom Group Ltd.

     5,619        84,270  

Azrieli Group Ltd.

     2,951        168,668  

Bezeq The Israeli Telecommunication Corp. Ltd.

     122,057        165,629  

Elbit Systems Ltd.

     432        73,067  

First International Bank of Israel Ltd.

     4,084        143,481  

ICL Group Ltd.

     144,947        971,372  

Israel Discount Bank Ltd., Class A

     41,837        203,919  

Mizrahi Tefahot Bank Ltd.

     13,354        416,125  

Phoenix Holdings Ltd.

     14,241        140,802  

Strauss Group Ltd.*

     3,500        78,784  
     

 

 

 
Total Israel               2,659,269  
Italy – 4.9%      

A2A SpA(a)

     194,976        311,393  

ACEA SpA

     11,374        155,702  

Amplifon SpA(a)

     2,281        79,153  

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Banca Generali SpA(a)

     6,992      $ 223,184  

Banca Mediolanum SpA

     36,019        327,072  

Banco BPM SpA(a)

     84,175        329,684  

BPER Banca(a)

     39,677        97,982  

Brembo SpA

     7,343        107,700  

Buzzi Unicem SpA(a)

     4,880        118,550  

Davide Campari-Milano NV

     9,799        119,769  

De’ Longhi SpA

     6,412        146,711  

DiaSorin SpA(a)

     390        41,126  

ERG SpA

     5,852        177,767  

FinecoBank Banca Fineco SpA

     15,682        240,913  

Hera SpA

     63,527        179,587  

Infrastrutture Wireless Italiane SpA(b)

     30,570        402,539  

Italgas SpA(a)

     59,629        364,410  

Leonardo SpA

     9,936        116,801  

Mediobanca Banca di Credito Finanziario SpA

     57,635        580,339  

Moncler SpA

     3,519        242,927  

Poste Italiane SpA(b)

     78,818        805,967  

Prysmian SpA

     4,174        175,498  

Recordati Industria Chimica e Farmaceutica SpA

     5,479        231,916  

Unipol Gruppo SpA

     32,597        167,903  

UnipolSai Assicurazioni SpA(a)

     229,550        580,591  
     

 

 

 
Total Italy               6,325,184  
Japan – 24.7%      

ABC-Mart, Inc.

     1,978        108,791  

Advantest Corp.(a)

     3,400        310,647  

AGC, Inc.

     9,028        334,081  

Air Water, Inc.

     7,000        87,309  

Aisin Corp.(a)

     10,900        298,524  

Alfresa Holdings Corp.(a)

     9,500        121,061  

Amada Co. Ltd.

     14,000        130,228  

Aozora Bank Ltd.(a)

     6,300        113,560  

Asahi Kasei Corp.

     40,100        279,094  

Azbil Corp.(a)

     2,000        54,249  

Bank of Kyoto Ltd.(a)

     1,800        84,529  

Brother Industries Ltd.

     6,400        95,791  

Canon Marketing Japan, Inc.

     5,000        118,341  

Capcom Co. Ltd.

     3,800        135,194  

Casio Computer Co. Ltd.(a)

     7,900        77,047  

Chiba Bank Ltd.

     21,700        139,406  

Chubu Electric Power Co., Inc.

     25,200        264,894  

Coca-Cola Bottlers Japan Holdings, Inc.

     10,200        110,745  

COMSYS Holdings Corp.(a)

     5,200        95,451  

Concordia Financial Group Ltd.(a)

     40,900        149,968  

Cosmo Energy Holdings Co. Ltd.

     5,400        173,860  

CyberAgent, Inc.

     7,700        64,509  

Dai Nippon Printing Co. Ltd.(a)

     6,579        183,148  

Daifuku Co. Ltd.

     5,700        104,629  

Daito Trust Construction Co. Ltd.

     3,520        348,853  

Daiwa Securities Group, Inc.(a)

     76,200        355,550  

Dentsu Group, Inc.

     7,700        269,028  

Disco Corp.

     3,900        448,343  

Dowa Holdings Co. Ltd.

     1,300        41,464  

Ebara Corp.

     2,700      124,359  

Electric Power Development Co. Ltd.(a)

     6,700        107,279  

ENEOS Holdings, Inc.

     179,600        627,770  

Fuji Electric Co. Ltd.

     2,875        112,330  

Fukuoka Financial Group, Inc.(a)

     6,600        126,406  

Hakuhodo DY Holdings, Inc.(a)

     8,800        98,850  

Hamamatsu Photonics KK

     2,500        133,556  

Hankyu Hanshin Holdings, Inc.

     3,900        115,016  

Haseko Corp.

     14,700        169,985  

Hirose Electric Co. Ltd.(a)

     1,675        217,351  

Hitachi Construction Machinery Co. Ltd.

     7,500        173,285  

Hulic Co. Ltd.

     26,000        212,353  

Idemitsu Kosan Co. Ltd.(a)

     13,866        302,137  

IHI Corp.(a)

     5,500        137,200  

Iida Group Holdings Co. Ltd.(a)

     10,100        163,843  

Internet Initiative Japan, Inc.(a)

     3,800        78,461  

Isuzu Motors Ltd.

     28,700        340,501  

Itochu Techno-Solutions Corp.

     5,800        141,851  

J. Front Retailing Co. Ltd.

     8,800        87,412  

Japan Exchange Group, Inc.(a)

     13,900        210,813  

Japan Metropolitan Fund Invest

     352        255,755  

Japan Post Insurance Co. Ltd.

     12,900        200,348  

Kajima Corp.

     18,776        225,442  

Kakaku.com, Inc.(a)

     3,500        47,468  

Kamigumi Co. Ltd.

     6,200        129,506  

Kansai Electric Power Co., Inc.

     34,300        332,717  

Kansai Paint Co. Ltd.

     3,800        51,051  

Kawasaki Heavy Industries Ltd.(a)

     3,600        78,281  

Kawasaki Kisen Kaisha Ltd.(a)

     24,500        556,860  

Kewpie Corp.

     6,900        115,510  

Kikkoman Corp.

     1,600        81,028  

Koei Tecmo Holdings Co. Ltd.(a)

     8,020        143,901  

Konami Group Corp.(a)

     3,200        145,946  

Kose Corp.

     700        82,471  

Kuraray Co. Ltd.

     18,400        168,253  

Kurita Water Industries Ltd.(a)

     2,200        99,842  

Kyushu Railway Co.(a)

     5,300        117,437  

Lawson, Inc.

     3,900        164,393  

Marui Group Co. Ltd.(a)

     5,800        88,161  

MatsukiyoCocokara & Co.

     2,000        105,342  

Mazda Motor Corp.

     22,600        208,017  

Mebuki Financial Group, Inc.(a)

     43,000        104,681  

Medipal Holdings Corp.

     5,700        77,262  

MEIJI Holdings Co. Ltd.(a)

     14,200        336,622  

MISUMI Group, Inc.

     2,600        64,468  

Mitsubishi Chemical Group Corp.

     59,100        348,898  

Mitsubishi Gas Chemical Co., Inc.

     8,200        120,945  

Mitsui Chemicals, Inc.(a)

     8,100        207,536  

Mitsui OSK Lines Ltd.(a)

     47,100        1,171,395  

Nabtesco Corp.

     3,000        73,033  

NEC Corp.

     5,400        206,928  

NGK Insulators Ltd.(a)

     16,900        222,472  

NGK Spark Plug Co. Ltd.(a)

     14,700        302,196  

NH Foods Ltd.(a)

     2,300        66,275  

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nikon Corp.(a)

     9,700      $ 98,756  

Nippon Express Holdings, Inc.

     2,300        137,734  

Nippon Sanso Holdings Corp.

     6,800        121,704  

Nippon Shinyaku Co. Ltd.

     1,800        78,849  

Nippon Yusen KK(a)

     67,800        1,573,628  

Nissan Chemical Corp.(a)

     4,300        193,531  

Nisshin Seifun Group, Inc.(a)

     7,400        86,238  

Nissin Foods Holdings Co. Ltd.

     1,900        173,169  

Nitto Denko Corp.

     5,800        372,605  

NOF Corp.(a)

     2,800        129,807  

Nomura Holdings, Inc.

     118,000        451,909  

Nomura Real Estate Holdings, Inc.

     9,368        206,238  

NSK Ltd.(a)

     25,200        143,145  

Obayashi Corp.

     32,000        243,565  

Oji Holdings Corp.

     25,862        101,823  

Open House Group Co. Ltd.

     2,800        104,140  

Oracle Corp.

     2,300        164,693  

Osaka Gas Co. Ltd.

     9,700        158,958  

Otsuka Corp.

     4,200        147,847  

Persol Holdings Co. Ltd.

     3,600        71,789  

Pola Orbis Holdings, Inc.

     7,000        90,570  

Resona Holdings, Inc.

     72,500        348,364  

Resonac Holdings Corp.

     4,500        73,574  

Ricoh Co. Ltd.

     16,200        120,627  

Rohm Co. Ltd.

     1,900        156,608  

Ryohin Keikaku Co. Ltd.

     7,900        89,275  

Sankyo Co. Ltd.

     2,400        99,722  

Santen Pharmaceutical Co. Ltd.(a)

     16,700        141,791  

SBI Holdings, Inc.(a)

     20,800        410,092  

SCREEN Holdings Co. Ltd.(a)

     1,800        157,563  

SCSK Corp.

     8,000        116,312  

Sega Sammy Holdings, Inc.

     7,500        141,615  

Seiko Epson Corp.(a)

     10,200        144,160  

Sekisui Chemical Co. Ltd.

     11,000        155,053  

Seven Bank Ltd.(a)

     76,300        151,924  

SG Holdings Co. Ltd.

     16,600        244,466  

Sharp Corp.(a)

     24,600        172,453  

Shimadzu Corp.

     3,500        108,874  

Shimamura Co. Ltd.

     1,200        121,722  

Shimizu Corp.(a)

     18,000        101,435  

SHO-BOND Holdings Co. Ltd.

     3,100        127,643  

Sohgo Security Services Co. Ltd.

     3,100        83,038  

Sojitz Corp.(a)

     17,580        364,968  

Square Enix Holdings Co. Ltd.

     3,700        176,813  

SUMCO Corp.

     10,900        162,243  

Sumitomo Chemical Co. Ltd.(a)

     74,100        247,761  

Sumitomo Electric Industries Ltd.

     22,912        292,146  

Sumitomo Forestry Co. Ltd.

     15,000        295,289  

Sumitomo Heavy Industries Ltd.

     8,100        197,190  

Sumitomo Metal Mining Co. Ltd.

     15,700        595,607  

Sumitomo Mitsui Trust Holdings, Inc.

     13,900        474,265  

Sumitomo Pharma Co. Ltd.(a)

     11,490        69,929  

Sumitomo Realty & Development Co. Ltd.

     6,800        152,360  

Sumitomo Rubber Industries Ltd.

     8,100        72,790  

Sundrug Co. Ltd.

     3,000      81,937  

Suntory Beverage & Food Ltd.

     5,100        189,109  

T&D Holdings, Inc.

     21,851        269,423  

Taisei Corp.(a)

     5,775        177,689  

Taiyo Yuden Co. Ltd.(a)

     2,200        73,394  

TechnoPro Holdings, Inc.

     2,900        79,424  

THK Co. Ltd.

     4,500        103,295  

TIS, Inc.

     4,300        112,758  

Tokyo Gas Co. Ltd.

     14,900        279,438  

Tokyo Tatemono Co. Ltd.

     9,200        111,639  

Tokyu Corp.(a)

     6,200        82,083  

Tokyu Fudosan Holdings Corp.(a)

     22,800        108,784  

Toray Industries, Inc.(a)

     35,200        200,055  

Tosoh Corp.

     24,000        324,051  

TOTO Ltd.(a)

     3,400        112,916  

Toyo Seikan Group Holdings Ltd.(a)

     12,100        166,012  

Toyo Suisan Kaisha Ltd.

     1,600        66,722  

Toyota Boshoku Corp.(a)

     6,700        107,581  

Toyota Tsusho Corp.

     11,400        481,389  

Trend Micro, Inc.

     4,830        234,804  

Tsuruha Holdings, Inc.

     900        59,847  

USS Co. Ltd.

     11,700        201,754  

West Japan Railway Co.

     4,400        180,410  

Yakult Honsha Co. Ltd.

     2,400        173,657  

Yamada Holdings Co. Ltd.(a)

     31,900        109,297  

Yamaha Motor Co. Ltd.

     12,460        323,928  

Yamato Holdings Co. Ltd.

     6,900        117,635  

Yaskawa Electric Corp.(a)

     4,300        186,423  

Yokogawa Electric Corp.

     4,200        67,849  

Yokohama Rubber Co. Ltd.

     4,600        96,673  

ZOZO, Inc.(a)

     6,300        142,719  
     

 

 

 
Total Japan               31,720,557  
Netherlands – 4.3%      

Aalberts NV

     2,370        111,776  

Aegon NV

     80,869        347,135  

Arcadis NV

     2,378        97,556  

ASM International NV

     410        165,661  

ASR Nederland NV

     10,928        436,204  

BE Semiconductor Industries NV

     4,314        375,424  

CTP NV(b)

     13,490        174,702  

Euronext NV(b)

     2,916        223,604  

IMCD NV(a)

     719        117,486  

Koninklijke KPN NV

     265,059        937,641  

Koninklijke Vopak NV

     6,991        246,774  

OCI NV(a)

     28,544        969,424  

Randstad NV(a)

     15,627        926,996  

SBM Offshore NV

     11,140        165,509  

Signify NV(b)

     5,166        171,970  
     

 

 

 
Total Netherlands               5,467,862  
Norway – 2.5%      

Aker ASA, Class A

     2,097        134,553  

Gjensidige Forsikring ASA(a)

     25,001        408,921  

Kongsberg Gruppen ASA

     1,945        78,520  

 

See Notes to Financial Statements.

 

54   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Leroy Seafood Group ASA

     28,475      $ 147,635  

Mowi ASA

     17,170        317,067  

Norsk Hydro ASA

     88,775        659,470  

Orkla ASA

     34,079        241,639  

Salmar ASA

     6,595        287,021  

SpareBank 1 SR-Bank ASA

     11,128        128,566  

Storebrand ASA

     19,238        147,539  

Wallenius Wilhelmsen ASA

     11,836        85,551  

Yara International ASA

     13,357        578,887  
     

 

 

 
Total Norway               3,215,369  
Portugal – 0.4%      

Galp Energia SGPS SA

     33,937        385,669  

Navigator Co. SA

     46,500        166,514  
     

 

 

 
Total Portugal               552,183  
Singapore – 5.3%      

BOC Aviation Ltd.(b)

     24,000        185,428  

CapitaLand Ascendas REIT

     319,500        687,277  

CapitaLand Ascott Trust

     178,400        133,510  

CapitaLand Integrated Commercial Trust

     476,800        710,063  

City Developments Ltd.

     34,100        189,024  

ComfortDelGro Corp. Ltd.

     112,500        99,846  

Frasers Centrepoint Trust

     96,700        166,555  

Frasers Logistics & Commercial Trust

     355,000        349,780  

Genting Singapore Ltd.

     266,800        224,750  

Jardine Cycle & Carriage Ltd.(a)

     22,111        520,200  

Keppel Corp. Ltd.

     82,800        350,618  

Keppel REIT

     325,400        216,599  

Mapletree Industrial Trust

     233,300        415,871  

Mapletree Logistics Trust(a)

     236,100        303,660  

Mapletree Pan Asia Commercial Trust

     249,100        337,242  

NetLink NBN Trust

     232,500        150,389  

Olam Group Ltd.

     211,300        249,514  

Sembcorp Industries Ltd.

     61,100        201,285  

Singapore Exchange Ltd.

     53,400        377,541  

Singapore Technologies Engineering Ltd.

     142,100        391,174  

Suntec Real Estate Investment Trust

     232,700        250,281  

UOL Group Ltd.

     16,200        84,439  

Venture Corp. Ltd.

     10,500        139,547  
     

 

 

 
Total Singapore               6,734,593  
Spain – 4.0%      

Acciona SA

     1,632        327,489  

Acerinox SA

     20,804        214,136  

ACS Actividades de Construccion y Servicios SA

     28,580        911,339  

Banco de Sabadell SA(a)

     190,201        204,330  

Bankinter SA(a)

     45,916        260,701  

Cia de Distribucion Integral Logista Holdings SA

     11,865        296,487  

Cie Automotive SA

     3,429        98,724  

Enagas SA(a)

     23,641        454,620  

Fluidra SA

     8,075        142,036  

Grupo Catalana Occidente SA

     5,484        173,083  

Inmobiliaria Colonial Socimi SA

     24,274        153,620  

Laboratorios Farmaceuticos Rovi SA

     1,873        78,304  

Mapfre SA

     210,276        424,468  

Merlin Properties Socimi SA

     69,370      607,458  

Red Electrica Corp. SA

     29,045        511,206  

Unicaja Banco SA(a)(b)

     69,713        74,831  

Viscofan SA

     2,099        150,510  
     

 

 

 
Total Spain               5,083,342  
Sweden – 4.0%      

Alfa Laval AB

     8,346        297,555  

Avanza Bank Holding AB(a)

     6,451        151,173  

Axfood AB

     7,867        192,094  

Billerud AB

     9,365        96,228  

Boliden AB

     10,886        428,110  

Epiroc AB, Class B

     8,103        137,882  

Fabege AB(a)

     15,484        118,890  

Hexpol AB

     16,041        198,781  

Holmen AB, Class B(a)

     1,921        73,953  

Husqvarna AB, Class B(a)

     22,067        191,185  

Industrivarden AB, Class A

     6,152        165,939  

Industrivarden AB, Class C(a)

     4,038        108,723  

Indutrade AB(a)

     3,976        84,393  

Investment AB Latour, Class B(a)

     9,832        199,683  

Lifco AB, Class B

     5,149        110,731  

Nordnet AB publ

     9,819        161,684  

Saab AB, Class B

     1,522        92,616  

Sagax AB, Class B(a)

     2,928        67,429  

Securitas AB, Class B(a)

     20,099        178,864  

SKF AB, Class B

     15,359        302,157  

SSAB AB, Class B

     86,514        616,721  

Svenska Cellulosa AB SCA, Class B(a)

     8,731        114,889  

Sweco AB, Class B

     8,974        113,802  

Tele2 AB, Class B

     41,448        412,699  

Thule Group AB(b)

     4,371        107,362  

Trelleborg AB, Class B(a)

     4,787        136,138  

Volvo AB, Class A

     13,574        291,912  
     

 

 

 
Total Sweden               5,151,593  
Switzerland – 4.8%      

Allreal Holding AG, Registered Shares

     878        148,200  

Baloise Holding AG, Registered Shares

     3,296        513,765  

Banque Cantonale Vaudoise, Registered Shares(a)

     4,601        434,641  

BKW AG

     1,151        181,177  

Cembra Money Bank AG

     1,425        112,075  

Clariant AG, Registered Shares*

     5,652        93,483  

Coca-Cola HBC AG*

     9,613        263,037  

DKSH Holding AG

     2,411        194,374  

EFG International AG*

     17,472        171,172  

Galenica AG(b)

     2,103        178,060  

Georg Fischer AG, Registered Shares

     1,614        125,262  

Helvetia Holding AG, Registered Shares

     3,893        542,902  

Julius Baer Group Ltd.

     10,235        698,205  

Logitech International SA, Registered Shares

     3,029        176,060  

OC Oerlikon Corp. AG, Registered Shares

     15,546        87,723  

PSP Swiss Property AG, Registered Shares

     2,051        233,489  

Schindler Holding AG, Participation Certificate

     957        211,712  

Schindler Holding AG, Registered Shares

     1,503        317,529  

 

See Notes to Financial Statements.

 

WisdomTree Trust      55  


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

SFS Group AG

     900      $ 116,644  

SIG Group AG*(a)

     7,514        193,453  

Stadler Rail AG(a)

     2,763        107,973  

Swatch Group AG, Bearer Shares

     638        218,871  

Swatch Group AG, Registered Shares

     2,676        169,310  

Swiss Prime Site AG, Registered Shares

     2,864        238,419  

Temenos AG, Registered Shares

     1,070        74,117  

VAT Group AG(a)(b)

     658        236,392  

Vontobel Holding AG, Registered Shares

     2,627        170,523  
     

 

 

 
Total Switzerland               6,208,568  
United Kingdom – 8.8%      

Airtel Africa PLC(b)

     168,884        222,390  

Associated British Foods PLC

     17,809        427,187  

Auto Trader Group PLC(b)

     13,889        105,820  

Balfour Beatty PLC

     26,981        124,235  

Beazley PLC

     16,797        124,093  

Bellway PLC

     6,239        170,253  

Big Yellow Group PLC

     8,507        122,961  

British Land Co. PLC

     45,944        220,299  

Britvic PLC

     13,422        147,867  

Bunzl PLC

     8,464        319,925  

Burberry Group PLC

     8,045        257,236  

Centrica PLC

     85,348        111,913  

Computacenter PLC

     3,775        99,793  

ConvaTec Group PLC(b)

     37,601        106,280  

Croda International PLC

     1,987        159,645  

DCC PLC

     2,785        162,465  

Derwent London PLC

     3,119        90,936  

Dr. Martens PLC(a)

     17,649        31,053  

Drax Group PLC

     21,601        162,254  

DS Smith PLC

     58,571        227,761  

Fresnillo PLC

     20,889        192,678  

Games Workshop Group PLC

     1,347        160,554  

Halma PLC

     2,297        63,306  

Harbour Energy PLC

     37,887        128,544  

Hargreaves Lansdown PLC

     18,674        184,577  

Howden Joinery Group PLC

     17,641        152,249  

IMI PLC

     4,750        90,094  

Inchcape PLC

     16,858        161,437  

InterContinental Hotels Group PLC

     4,642        304,888  

Intertek Group PLC

     3,493        175,046  

Investec PLC

     31,660        176,000  

ITV PLC

     254,552        260,605  

J. Sainsbury PLC

     134,483        463,427  

Kingfisher PLC

     97,469        314,787  

Land Securities Group PLC

     38,551        296,104  

Mondi PLC

     15,193        240,829  

Next PLC

     4,376        355,592  

OSB Group PLC

     40,113        238,863  

Pearson PLC

     13,273        138,578  

Pennon Group PLC

     8,192        88,527  

Renishaw PLC

     1,394        70,565  

Rentokil Initial PLC

     20,623        150,854  

Rightmove PLC

     12,575      87,537  

Rotork PLC

     16,515        64,282  

RS Group PLC

     9,999        113,000  

Sage Group PLC

     23,713        227,230  

Schroders PLC

     52,377        297,903  

Segro PLC

     31,642        300,314  

Severn Trent PLC

     8,741        311,157  

Smith & Nephew PLC

     25,747        357,187  

Smiths Group PLC

     8,185        173,716  

Spectris PLC

     2,388        108,037  

Spirax-Sarco Engineering PLC

     895        131,190  

St. James’s Place PLC

     24,268        363,375  

Tate & Lyle PLC

     10,393        100,824  

Tritax Big Box REIT PLC

     76,557        132,428  

Unite Group PLC

     15,550        184,481  

United Utilities Group PLC

     25,340        332,115  

Weir Group PLC

     4,102        94,287  

Whitbread PLC

     3,505        129,448  
     

 

 

 
Total United Kingdom               11,310,981  

TOTAL COMMON STOCKS

(Cost: $122,771,827)

              127,040,559  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 10.8%

 

United States – 10.8%      

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $13,788,259)      13,788,259        13,788,259  

TOTAL INVESTMENTS IN SECURITIES – 109.9%

(Cost: $136,560,086)

 

 

     140,828,818  

Other Assets less Liabilities – (9.9)%

 

     (12,653,488
     

 

 

 
NET ASSETS – 100.0%

 

   $ 128,175,330  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $23,398,066 and the total market value of the collateral held by the Fund was $24,797,308. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $11,009,049.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

56   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Royal Bank of Canada

    4/4/2023       48,789       USD       45,000       EUR     $     $ (102

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 127,040,559      $      $      $ 127,040,559  

Investment of Cash Collateral for Securities Loaned

            13,788,259               13,788,259  

Total Investments in Securities

   $ 127,040,559      $ 13,788,259      $      $ 140,828,818  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (102    $      $ (102

Total – Net

   $ 127,040,559      $ 13,788,157      $      $ 140,828,716  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

WisdomTree Trust      57  


Schedule of Investments

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.2%      
Australia – 9.7%      

ANZ Group Holdings Ltd.

     46,401      $ 712,597  

Aristocrat Leisure Ltd.

     1,672        41,657  

BHP Group Ltd.

     18,475        584,407  

BlueScope Steel Ltd.

     9,643        130,137  

Brambles Ltd.

     37,683        338,949  

Coles Group Ltd.

     18,385        221,887  

Computershare Ltd.

     18,354        265,397  

Insurance Australia Group Ltd.

     59,112        185,678  

Medibank Pvt Ltd.(a)

     57,923        130,348  

National Australia Bank Ltd.(a)

     3,914        72,665  

Pilbara Minerals Ltd.(a)

     13,746        36,273  

Qantas Airways Ltd.*

     25,393        112,586  

QBE Insurance Group Ltd.

     26,624        260,161  

South32 Ltd.

     46,347        135,649  

Suncorp Group Ltd.

     4,452        36,109  

Telstra Group Ltd.

     36,576        103,376  

Westpac Banking Corp.(a)

     30,279        439,251  

Woolworths Group Ltd.

     3,198        81,177  
     

 

 

 
Total Australia               3,888,304  
Austria – 0.4%      

Erste Group Bank AG

     993        32,905  

OMV AG

     2,359        108,309  
     

 

 

 
Total Austria               141,214  
China – 1.3%      

BOC Hong Kong Holdings Ltd.

     42,000        130,816  

SITC International Holdings Co. Ltd.

     18,000        38,660  

Wilmar International Ltd.

     113,300        358,763  
     

 

 

 
Total China               528,239  
Denmark – 0.4%      

AP Moller – Maersk A/S, Class B

     17        30,856  

Novo Nordisk A/S, Class B

     943        149,333  
     

 

 

 
Total Denmark               180,189  
Finland – 2.0%      

Elisa Oyj

     8,054        486,165  

Fortum Oyj*

     2,521        38,660  

Orion Oyj, Class B

     6,574        294,192  
     

 

 

 
Total Finland               819,017  
France – 11.2%      

Bollore SE

     6,856        42,383  

Carrefour SA

     9,378        189,816  

Dassault Aviation SA

     2,173        431,092  

Eiffage SA

     1,474        159,726  

Engie SA

     14,232        225,348  

Ipsen SA

     2,227        245,582  

La Francaise des Jeux SAEM(b)

     7,907        329,792  

Orange SA

     37,331        444,194  

Publicis Groupe SA

     3,317        258,677  

Sanofi

     6,297        685,779  

Sodexo SA

     3,269        319,858  

Thales SA

     1,818        269,314  

TotalEnergies SE(a)

     9,232      545,237  

Vivendi SE

     26,356        266,301  

Wendel SE

     555        58,700  
     

 

 

 
Total France               4,471,799  
Germany – 4.6%      

Bayer AG, Registered Shares

     4,339        276,812  

Bayerische Motoren Werke AG

     2,772        303,995  

Deutsche Lufthansa AG, Registered Shares*

     15,423        171,920  

Deutsche Telekom AG, Registered Shares

     30,756        746,822  

E.ON SE

     24,015        300,048  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     103        36,089  
     

 

 

 
Total Germany               1,835,686  
Hong Kong – 4.3%      

CK Asset Holdings Ltd.

     29,000        176,033  

Hongkong Land Holdings Ltd.

     12,500        54,875  

Jardine Matheson Holdings Ltd.

     7,300        354,561  

MTR Corp. Ltd.

     22,500        108,488  

Power Assets Holdings Ltd.

     12,500        67,039  

Sino Land Co. Ltd.

     127,498        172,489  

Sun Hung Kai Properties Ltd.

     32,000        448,410  

Swire Pacific Ltd., Class A

     15,500        119,064  

WH Group Ltd.(b)

     362,000        215,818  
     

 

 

 
Total Hong Kong               1,716,777  
Israel – 1.1%      

Check Point Software Technologies Ltd.*

     3,054        397,020  

ZIM Integrated Shipping Services Ltd.(a)

     1,001        23,604  
     

 

 

 
Total Israel               420,624  
Italy – 1.0%      

Eni SpA(a)

     18,681        261,940  

Poste Italiane SpA(b)

     12,436        127,166  
     

 

 

 
Total Italy               389,106  
Japan – 19.8%      

AGC, Inc.

     7,700        284,939  

Astellas Pharma, Inc.

     1,400        19,808  

Canon, Inc.

     9,000        199,861  

Chiba Bank Ltd.(a)

     5,500        35,333  

Dai Nippon Printing Co. Ltd.(a)

     7,900        219,923  

Dai-ichi Life Holdings, Inc.

     8,000        146,367  

Daito Trust Construction Co. Ltd.

     600        59,464  

Daiwa House Industry Co. Ltd.

     3,300        77,212  

East Japan Railway Co.(a)

     400        22,045  

Hankyu Hanshin Holdings, Inc.

     1,000        29,491  

Hulic Co. Ltd.

     3,000        24,502  

Idemitsu Kosan Co. Ltd.

     3,700        80,622  

Inpex Corp.

     9,500        99,718  

ITOCHU Corp.

     3,400        109,876  

Japan Airlines Co. Ltd.

     2,300        44,621  

Japan Post Holdings Co. Ltd.

     19,300        156,108  

Japan Post Insurance Co. Ltd.

     8,800        136,672  

Japan Tobacco, Inc.

     3,800        79,889  

Kajima Corp.

     14,000        168,097  

 

See Notes to Financial Statements.

 

58   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

 

 

Investments    Shares      Value  

KDDI Corp.

     2,600      $ 79,959  

Kintetsu Group Holdings Co. Ltd.(a)

     1,400        44,864  

Kirin Holdings Co. Ltd.

     2,500        39,372  

Komatsu Ltd.

     1,600        39,396  

Marubeni Corp.

     2,900        39,124  

Mazda Motor Corp.

     4,300        39,579  

McDonald’s Holdings Co. Japan Ltd.(a)

     3,600        149,313  

MEIJI Holdings Co. Ltd.

     1,600        37,929  

Mitsubishi Corp.

     1,400        49,977  

Mitsubishi Heavy Industries Ltd.(a)

     3,100        113,574  

Mitsui Fudosan Co. Ltd.

     8,500        158,645  

Mitsui OSK Lines Ltd.(a)

     1,500        37,306  

Mizuho Financial Group, Inc.

     11,600        163,685  

MS&AD Insurance Group Holdings, Inc.

     7,800        240,640  

NGK Insulators Ltd.

     3,200        42,125  

Nippon Express Holdings, Inc.

     800        47,907  

Nippon Steel Corp.

     1,800        42,197  

Nippon Telegraph & Telephone Corp.

     3,500        104,193  

Nippon Yusen KK(a)

     4,100        95,160  

Nissin Foods Holdings Co. Ltd.

     900        82,027  

Nomura Real Estate Holdings, Inc.

     900        19,814  

Obayashi Corp.

     28,100        213,880  

Oji Holdings Corp.

     106,600        419,704  

Ono Pharmaceutical Co. Ltd.

     4,100        85,148  

Osaka Gas Co. Ltd.

     9,400        154,042  

Otsuka Holdings Co. Ltd.

     3,100        97,898  

Pan Pacific International Holdings Corp.

     2,300        44,224  

SBI Holdings, Inc.(a)

     2,200        43,375  

SCSK Corp.

     2,100        30,532  

Secom Co. Ltd.

     3,200        196,294  

Seiko Epson Corp.(a)

     1,500        21,200  

Sekisui Chemical Co. Ltd.

     8,100        114,175  

Sekisui House Ltd.

     7,100        143,931  

SG Holdings Co. Ltd.

     10,200        150,214  

Shionogi & Co. Ltd.

     1,500        67,364  

SoftBank Corp.

     2,000        22,977  

Square Enix Holdings Co. Ltd.

     900        43,009  

Subaru Corp.

     2,500        39,719  

Sumitomo Corp.

     3,100        54,528  

Sumitomo Mitsui Financial Group, Inc.(a)

     1,200        47,769  

Suntory Beverage & Food Ltd.

     600        22,248  

Taisei Corp.

     1,300        39,999  

Takeda Pharmaceutical Co. Ltd.

     3,900        127,470  

TIS, Inc.

     4,000        104,892  

Tobu Railway Co. Ltd.(a)

     2,100        50,019  

Tokio Marine Holdings, Inc.

     8,300        158,841  

Tokyo Gas Co. Ltd.

     3,500        65,640  

Tokyu Corp.(a)

     28,400        375,992  

Toshiba Corp.(a)

     21,300        711,387  

Tosoh Corp.

     1,600        21,603  

USS Co. Ltd.

     7,100        122,432  

Yakult Honsha Co. Ltd.

     6,000        434,142  

Yamato Holdings Co. Ltd.(a)

     2,600        44,326  
     

 

 

 
Total Japan               7,930,308  
Luxembourg – 0.1%      

ArcelorMittal SA

     1,179      35,699  
Netherlands – 4.2%      

Heineken Holding NV

     3,193        293,307  

Koninklijke Ahold Delhaize NV(a)

     12,579        430,357  

Koninklijke KPN NV(a)

     108,225        382,844  

OCI NV

     7,457        253,258  

Randstad NV(a)

     572        33,931  

Wolters Kluwer NV(a)

     2,300        290,739  
     

 

 

 
Total Netherlands               1,684,436  
New Zealand – 0.8%      

Mercury NZ Ltd.

     34,441        135,968  

Spark New Zealand Ltd.

     53,384        169,002  
     

 

 

 
Total New Zealand               304,970  
Norway – 3.2%      

Equinor ASA

     6,206        176,999  

Kongsberg Gruppen ASA

     2,033        82,073  

Mowi ASA

     7,331        135,377  

Orkla ASA

     64,080        454,362  

Telenor ASA

     14,938        175,010  

Yara International ASA

     6,231        270,049  
     

 

 

 
Total Norway               1,293,870  
Portugal – 1.4%      

Jeronimo Martins SGPS SA

     23,884        561,012  
Russia – 0.0%      

Evraz PLC*

     17,300        0  
Singapore – 4.7%      

CapitaLand Ascendas REIT

     91,800        197,471  

City Developments Ltd.

     33,900        187,916  

DBS Group Holdings Ltd.

     12,500        310,255  

Genting Singapore Ltd.

     259,400        218,516  

Jardine Cycle & Carriage Ltd.

     6,700        157,629  

Singapore Airlines Ltd.(a)

     45,300        195,231  

Singapore Exchange Ltd.

     21,800        154,127  

Singapore Technologies Engineering Ltd.

     16,200        44,596  

Singapore Telecommunications Ltd.

     119,600        221,290  

Venture Corp. Ltd.

     14,600        194,037  
     

 

 

 
Total Singapore               1,881,068  
Spain – 5.4%      

Acciona SA(a)

     527        105,752  

Banco Bilbao Vizcaya Argentaria SA(a)

     36,206        258,477  

Corp. ACCIONA Energias Renovables SA

     1,082        42,037  

Enagas SA

     23,115        444,505  

Endesa SA(a)

     13,112        284,911  

Iberdrola SA

     23,390        291,858  

Industria de Diseno Textil SA

     8,364        280,790  

Naturgy Energy Group SA

     5,956        179,567  

Repsol SA

     17,578        270,900  
     

 

 

 
Total Spain               2,158,797  
Sweden – 2.0%      

Essity AB, Class B(a)

     5,448        155,724  

 

See Notes to Financial Statements.

 

WisdomTree Trust      59  


Schedule of Investments (continued)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

 

 

Investments    Shares      Value  

Svenska Handelsbanken AB, Class A

     52,592      $ 455,648  

Swedbank AB, Class A(a)

     12,373        203,024  
     

 

 

 
Total Sweden               814,396  
Switzerland – 7.3%      

Baloise Holding AG, Registered Shares

     1,083        168,813  

Banque Cantonale Vaudoise, Registered Shares(a)

     2,102        198,569  

Coca-Cola HBC AG*

     2,143        58,638  

Kuehne & Nagel International AG, Registered Shares

     1,108        329,774  

Novartis AG, Registered Shares

     9,259        848,923  

Roche Holding AG

     1,555        444,176  

Swisscom AG, Registered Shares

     936        597,532  

Zurich Insurance Group AG

     571        273,578  
     

 

 

 
Total Switzerland               2,920,003  
United Kingdom – 13.0%      

BAE Systems PLC

     22,900        278,220  

BP PLC

     54,342        343,212  

British American Tobacco PLC

     9,486        333,161  

CK Hutchison Holdings Ltd.

     25,500        158,198  

Coca-Cola Europacific Partners PLC

     3,498        207,047  

Compass Group PLC

     14,114        354,784  

HSBC Holdings PLC

     52,001        353,439  

Imperial Brands PLC

     14,812        341,379  

J. Sainsbury PLC

     77,166        265,913  

Lloyds Banking Group PLC

     69,081        40,722  

National Grid PLC

     65,682        890,496  

Pearson PLC

     23,133        241,522  

Reckitt Benckiser Group PLC

     4,711        358,698  

Shell PLC

     6,682        190,727  

Standard Chartered PLC

     4,095        31,099  

Tesco PLC

     138,262        454,225  

Unilever PLC

     7,200        373,012  
     

 

 

 
Total United Kingdom               5,215,854  
United States – 1.3%      

GSK PLC

     26,850      474,409  

Stellantis NV

     1,968        35,784  
     

 

 

 
Total United States               510,193  

TOTAL COMMON STOCKS

(Cost: $37,130,157)

              39,701,561  
PREFERRED STOCK – 0.5%      
Germany – 0.5%      
Henkel AG & Co. KGaA
(Cost: $174,933)
     2,408        188,521  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.5%

 

United States – 5.5%      

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $2,197,452)      2,197,452        2,197,452  

TOTAL INVESTMENTS IN SECURITIES – 105.2%

(Cost: $39,502,542)

 

 

     42,087,534  

Other Assets less Liabilities – (5.2)%

 

     (2,091,684
     

 

 

 
NET ASSETS – 100.0%

 

   $ 39,995,850  

 

* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $0, which represents 0.0% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $4,180,156 and the total market value of the collateral held by the Fund was $4,411,904. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,214,452.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Bank of America NA

    4/5/2023       4,716,903       AUD       3,153,182       USD     $ 6,079     $  

Bank of America NA

    4/5/2023       174,388       NZD       109,048       USD       59        

Bank of America NA

    4/5/2023       3,465,815       USD       5,121,164       AUD       35,790        

Bank of America NA

    4/5/2023       3,469,245       USD       3,258,815       EUR             (71,486

Bank of America NA

    4/5/2023       3,349,670       USD       2,786,677       GBP             (95,988

Bank of America NA

    4/5/2023       2,393,857       USD       323,857,564       JPY             (39,862

Bank of America NA

    5/3/2023       3,395,415       USD       5,074,181       AUD             (6,555

Bank of America NA

    5/3/2023       59,745       USD       408,378       DKK       71        

Bank of America NA

    5/3/2023       100,904       USD       161,360       NZD             (56

Barclays Bank PLC

    4/5/2023       1,416,306       SGD       1,064,702       USD       583        

Barclays Bank PLC

    4/5/2023       217,399       USD       328,665       AUD             (2,733

Barclays Bank PLC

    4/5/2023       105,176       USD       98,615       CHF             (2,782

Barclays Bank PLC

    4/5/2023       217,615       USD       205,899       EUR             (6,096

Barclays Bank PLC

    4/5/2023       210,114       USD       177,451       GBP             (9,300

Barclays Bank PLC

    4/5/2023       150,159       USD       20,477,630       JPY             (3,726

Barclays Bank PLC

    4/5/2023       58,698       USD       622,970       NOK             (788

 

See Notes to Financial Statements.

 

60   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Barclays Bank PLC

    4/5/2023       7,276       USD       11,895       NZD     $     $ (166

Barclays Bank PLC

    4/5/2023       35,056       USD       373,740       SEK             (988

Barclays Bank PLC

    4/5/2023       46,506       USD       62,845       SGD             (763

Barclays Bank PLC

    5/4/2023       1,119,344       USD       1,487,645       SGD             (632

Citibank NA

    4/5/2023       38,105       AUD       25,316       USD       206        

Citibank NA

    4/5/2023       11,201       CHF       12,232       USD       30        

Citibank NA

    4/5/2023       25,711       EUR       27,732       USD       203        

Citibank NA

    4/5/2023       24,924       GBP       30,594       USD       224        

Citibank NA

    4/5/2023       3,050,209       GBP       3,773,459       USD             (1,951

Citibank NA

    4/5/2023       2,428,232       JPY       18,485       USD             (237

Citibank NA

    4/5/2023       91,048       NOK       8,666       USD       28        

Citibank NA

    4/5/2023       2,618       NZD       1,621       USD       17        

Citibank NA

    4/5/2023       52,745       SEK       5,078       USD       9        

Citibank NA

    4/5/2023       11,575       SGD       8,688       USD       18        

Citibank NA

    4/5/2023       741,393       USD       996,758       SGD             (8,326

Citibank NA

    5/4/2023       2,056,666       USD       1,661,481       GBP       1,052        

Goldman Sachs

    4/5/2023       296,419       AUD       196,716       USD       1,818        

Goldman Sachs

    4/5/2023       464,106       AUD       308,000       USD       2,847        

Goldman Sachs

    4/5/2023       87,156       CHF       95,047       USD       367        

Goldman Sachs

    4/5/2023       201,333       EUR       215,485       USD       3,265        

Goldman Sachs

    4/5/2023       196,354       GBP       237,731       USD       5,055        

Goldman Sachs

    4/5/2023       19,230,093       JPY       143,633       USD       877        

Goldman Sachs

    4/5/2023       710,872       NOK       67,341       USD       538        

Goldman Sachs

    4/5/2023       20,411       NZD       12,599       USD       171        

Goldman Sachs

    4/5/2023       418,445       SEK       39,455       USD       900        

Goldman Sachs

    4/5/2023       90,939       SGD       67,509       USD       891        

Goldman Sachs

    4/5/2023       482,000       USD       398,121       GBP             (10,267

Goldman Sachs

    4/5/2023       353,000       USD       475,588       SGD             (4,717

HSBC Holdings PLC

    4/5/2023       935,765       USD       9,736,921       NOK       6,014        

HSBC Holdings PLC

    4/5/2023       558,873       USD       5,848,428       SEK             (5,159

Morgan Stanley & Co. International

    4/5/2023       1,534,770       CHF       1,674,631       USD       5,557        

Morgan Stanley & Co. International

    4/5/2023       3,166,311       EUR       3,443,643       USD             (3,417

Morgan Stanley & Co. International

    4/5/2023       317,169,488       JPY       2,381,898       USD       1,561        

Morgan Stanley & Co. International

    4/5/2023       9,618,146       NOK       918,456       USD             (47

Morgan Stanley & Co. International

    4/5/2023       5,697,522       SEK       549,396       USD       82        

Morgan Stanley & Co. International

    4/5/2023       1,676,734       USD       1,566,378       CHF             (38,056

Morgan Stanley & Co. International

    5/4/2023       1,853,889       USD       1,693,771       CHF             (6,149

Morgan Stanley & Co. International

    5/4/2023       4,141,027       USD       3,801,315       EUR       4,136        

Morgan Stanley & Co. International

    5/4/2023       1,078,803       USD       11,282,234       NOK       34        

Morgan Stanley & Co. International

    5/4/2023       269,519       USD       2,790,440       SEK             (42

Morgan Stanley & Co. International

    5/8/2023       2,282,968       USD       302,551,407       JPY             (1,478

UBS AG

    4/5/2023       115,992       USD       186,195       NZD             (502
                                            $ 78,482     $ (322,269

 

See Notes to Financial Statements.

 

WisdomTree Trust      61  


Schedule of Investments (concluded)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

           

Russia

   $      $      $ 0 *     $ 0  

Other

     39,701,561                      39,701,561  

Preferred Stock

     188,521                      188,521  

Investment of Cash Collateral for Securities Loaned

            2,197,452               2,197,452  

Total Investments in Securities

   $ 39,890,082      $ 2,197,452      $ 0      $ 42,087,534  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 78,482      $      $ 78,482  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (322,269    $      $ (322,269

Total – Net

   $ 39,890,082      $ 1,953,665      $ 0      $ 41,843,747  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

62   WisdomTree Trust


Schedule of Investments

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.6%      
Australia – 5.3%      

Altium Ltd.

     12,913      $ 329,334  

ARB Corp. Ltd.(a)

     15,354        325,262  

Aristocrat Leisure Ltd.

     65,442        1,630,468  

AUB Group Ltd.

     17,761        303,453  

Breville Group Ltd.(a)

     13,686        175,074  

Cochlear Ltd.

     6,352        1,006,939  

Coles Group Ltd.

     299,376        3,613,139  

Computershare Ltd.

     90,182        1,304,023  

CSL Ltd.

     33,884        6,542,627  

Goodman Group

     233,727        2,941,362  

IDP Education Ltd.(a)

     20,755        379,627  

Netwealth Group Ltd.

     33,774        305,824  

Northern Star Resources Ltd.

     191,483        1,578,706  

OZ Minerals Ltd.

     24,690        464,831  

Pinnacle Investment Management Group Ltd.(a)

     62,195        326,993  

REA Group Ltd.(a)

     12,891        1,191,716  

Seven Group Holdings Ltd.(a)

     63,510        982,578  

Technology One Ltd.

     35,051        341,333  

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

     63,733        1,289,093  

Wesfarmers Ltd.

     306,475        10,314,400  

WiseTech Global Ltd.

     4,648        202,781  
     

 

 

 
Total Australia               35,549,563  
Austria – 0.4%      

Oesterreichische Post AG

     28,740        1,063,197  

Verbund AG

     14,449        1,255,849  
     

 

 

 
Total Austria               2,319,046  
Belgium – 0.6%      

Etablissements Franz Colruyt NV(a)

     33,979        993,792  

UCB SA

     18,130        1,623,848  

VGP NV(a)

     14,173        1,265,737  
     

 

 

 
Total Belgium               3,883,377  
China – 0.5%      

Prosus NV*

     43,433        3,394,689  
Denmark – 4.4%      

Alm Brand A/S

     298,389        557,911  

Chr Hansen Holding A/S

     13,790        1,047,843  

Coloplast A/S, Class B

     24,075        3,166,437  

Novo Nordisk A/S, Class B

     132,366        20,961,417  

Pandora A/S

     25,338        2,421,994  

Royal Unibrew A/S

     11,144        971,934  

SimCorp A/S

     5,703        431,517  
     

 

 

 
Total Denmark               29,559,053  
Finland – 2.1%      

Kone Oyj, Class B

     132,728        6,921,712  

Neste Oyj

     85,734        4,231,609  

Terveystalo Oyj(a)(b)

     34,768        265,171  

Valmet Oyj(a)

     70,763        2,294,113  
     

 

 

 
Total Finland               13,712,605  
France – 14.5%      

BioMerieux

     56      5,902  

Bollore SE(a)

     224,581        1,388,337  

Capgemini SE

     14,915        2,766,902  

Carrefour SA

     138,635        2,806,050  

Gaztransport Et Technigaz SA

     7,545        772,182  

Hermes International

     3,945        7,989,188  

Kering SA

     20,125        13,118,883  

L’Oreal SA

     44,071        19,691,034  

La Francaise des Jeux SAEM(b)

     45,630        1,903,173  

LVMH Moet Hennessy Louis Vuitton SE

     45,205        41,470,990  

Sartorius Stedim Biotech

     2,009        615,515  

Teleperformance

     4,356        1,049,212  

Verallia SA(b)

     28,283        1,207,613  

Vivendi SE

     205,273        2,074,075  
     

 

 

 
Total France               96,859,056  
Germany – 5.0%      

adidas AG

     41,627        7,361,831  

AIXTRON SE

     8,375        284,162  

Bechtle AG

     12,232        584,603  

Carl Zeiss Meditec AG, Bearer Shares

     3,822        531,509  

Fielmann AG

     24,835        1,035,569  

Nemetschek SE

     5,844        401,778  

Puma SE

     16,523        1,020,717  

Rheinmetall AG

     6,201        1,843,264  

SAP SE

     152,403        19,217,009  

Stroeer SE & Co. KGaA

     17,599        930,400  
     

 

 

 
Total Germany               33,210,842  
Hong Kong – 3.5%      

CLP Holdings Ltd.

     973,000        7,027,955  

Hong Kong Exchanges & Clearing Ltd.

     276,700        12,273,574  

Techtronic Industries Co. Ltd.

     338,500        3,658,842  
     

 

 

 
Total Hong Kong               22,960,371  
Indonesia – 0.1%      

Nickel Industries Ltd.

     1,206,886        727,481  
Ireland – 0.2%      

Kerry Group PLC, Class A

     10,554        1,053,073  
Israel – 0.2%      

Matrix IT Ltd.

     30,728        539,009  

Maytronics Ltd.

     27,137        287,374  

Strauss Group Ltd.*

     22,785        512,886  
     

 

 

 
Total Israel               1,339,269  
Italy – 2.6%      

Amplifon SpA(a)

     12,317        427,415  

Azimut Holding SpA(a)

     68,072        1,456,949  

Banca Generali SpA(a)

     46,760        1,492,574  

Banca Mediolanum SpA

     259,477        2,356,193  

Davide Campari-Milano NV

     51,972        635,231  

De’ Longhi SpA

     47,295        1,082,140  

Ferrari NV

     8,554        2,316,868  

FinecoBank Banca Fineco SpA

     103,602        1,591,576  

Italgas SpA(a)

     271,541        1,659,463  

 

See Notes to Financial Statements.

 

WisdomTree Trust      63  


Schedule of Investments (continued)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2023

 

 

 

Investments    Shares      Value  

Moncler SpA

     21,610      $ 1,491,804  

RAI Way SpA(b)

     195,941        1,179,356  

Recordati Industria Chimica e Farmaceutica SpA

     32,310        1,367,620  

Reply SpA

     1,523        191,114  

Technogym SpA(a)(b)

     39,298        349,888  
     

 

 

 
Total Italy               17,598,191  
Japan – 7.9%      

Anritsu Corp.

     33,000        302,750  

Asahi Holdings, Inc.(a)

     35,300        536,303  

Astellas Pharma, Inc.

     280,800        3,972,849  

BayCurrent Consulting, Inc.

     8,300        339,883  

Benefit One, Inc.(a)

     14,200        200,159  

BIPROGY, Inc.(a)

     28,000        683,748  

Capcom Co. Ltd.(a)

     31,900        1,134,920  

Create SD Holdings Co. Ltd.

     7,000        176,723  

CyberAgent, Inc.(a)

     40,100        335,949  

Daifuku Co. Ltd.

     33,500        614,926  

Daito Trust Construction Co. Ltd.

     16,200        1,605,515  

Daiwabo Holdings Co. Ltd.

     33,600        551,122  

eRex Co. Ltd.(a)

     1,700        23,388  

Fancl Corp.

     9,600        175,496  

Fujimi, Inc.(a)

     6,700        367,496  

Fujitsu Ltd.

     18,000        2,412,127  

Hoya Corp.

     15,400        1,684,755  

Information Services International-Dentsu Ltd.

     5,600        218,799  

Internet Initiative Japan, Inc.(a)

     9,900        204,412  

Japan Material Co. Ltd.(a)

     7,600        134,652  

Kakaku.com, Inc.(a)

     29,800        404,155  

Kao Corp.

     76,400        2,966,104  

Keyence Corp.

     6,300        3,050,830  

Koei Tecmo Holdings Co. Ltd.(a)

     50,500        906,109  

Kose Corp.

     3,100        365,227  

M3, Inc.

     15,400        381,963  

Meitec Corp.

     30,300        538,201  

MIRAIT ONE Corp.(a)

     35,000        433,654  

MonotaRO Co. Ltd.(a)

     28,100        349,851  

Morinaga & Co. Ltd.

     7,000        197,498  

Murata Manufacturing Co. Ltd.

     89,800        5,424,840  

NEC Networks & System Integration Corp.

     34,500        418,645  

NET One Systems Co. Ltd.

     11,300        268,724  

Nexon Co. Ltd.

     31,200        739,620  

Nifco, Inc.(a)

     15,200        428,282  

Nihon M&A Center Holdings, Inc.

     31,300        231,416  

Nippon Gas Co. Ltd.(a)

     31,100        449,594  

Nippon Shinyaku Co. Ltd.

     7,200        315,396  

Nissan Chemical Corp.(a)

     29,100        1,309,708  

Nomura Research Institute Ltd.

     46,400        1,068,570  

NSD Co. Ltd.

     30,800        551,711  

Obic Co. Ltd.(a)

     6,100        957,923  

Open House Group Co. Ltd.(a)

     29,500        1,097,190  

Oracle Corp.

     15,200        1,088,406  

Osaka Gas Co. Ltd.

     79,000        1,294,605  

Persol Holdings Co. Ltd.

     31,000        618,183  

Recruit Holdings Co. Ltd.

     50,500        1,384,965  

Relo Group, Inc.(a)

     10,700      169,235  

Rohto Pharmaceutical Co. Ltd.(a)

     10,200        212,292  

Sega Sammy Holdings, Inc.

     39,400        743,949  

Seria Co. Ltd.(a)

     15,500        305,365  

Shinko Electric Industries Co. Ltd.(a)

     14,400        441,446  

Sugi Holdings Co. Ltd.

     5,100        218,040  

SUMCO Corp.

     79,600        1,184,819  

Taiheiyo Cement Corp.

     33,800        631,607  

Taiyo Yuden Co. Ltd.

     28,300        944,113  

TechnoPro Holdings, Inc.

     12,200        334,127  

Terumo Corp.

     37,900        1,017,767  

TIS, Inc.(a)

     28,600        749,974  

Unicharm Corp.

     35,200        1,439,050  

West Holdings Corp.(a)

     3,300        80,337  

Workman Co. Ltd.(a)

     8,000        336,614  

ZOZO, Inc.

     43,500        985,442  
     

 

 

 
Total Japan               52,711,519  
Netherlands – 5.6%      

ASM International NV

     3,058        1,235,587  

ASML Holding NV

     26,337        17,889,367  

BE Semiconductor Industries NV

     32,316        2,812,288  

Corbion NV

     9,089        298,612  

Koninklijke KPN NV

     1,346,366        4,762,744  

SBM Offshore NV

     88,812        1,319,498  

Universal Music Group NV

     233,025        5,900,127  

Wolters Kluwer NV

     25,329        3,201,800  
     

 

 

 
Total Netherlands               37,420,023  
Norway – 0.6%      

Kongsberg Gruppen ASA

     12,175        491,506  

Leroy Seafood Group ASA

     183,546        951,633  

Salmar ASA

     43,062        1,874,102  

TOMRA Systems ASA

     22,468        377,574  
     

 

 

 
Total Norway               3,694,815  
Portugal – 0.5%      

Corticeira Amorim SGPS SA

     27,559        299,415  

Jeronimo Martins SGPS SA

     131,796        3,095,762  
     

 

 

 
Total Portugal               3,395,177  
Singapore – 1.2%      

BOC Aviation Ltd.(b)

     191,700        1,481,105  

Kenon Holdings Ltd.

     38,255        1,119,819  

Singapore Exchange Ltd.

     275,200        1,945,681  

Singapore Technologies Engineering Ltd.

     1,071,700        2,950,188  

StarHub Ltd.

     601,800        470,740  
     

 

 

 
Total Singapore               7,967,533  
Spain – 4.1%      

Cie Automotive SA

     24,150        695,301  

Industria de Diseno Textil SA

     767,037        25,750,431  

Laboratorios Farmaceuticos Rovi SA

     6,322        264,301  

Viscofan SA

     7,515        538,868  
     

 

 

 
Total Spain               27,248,901  

 

See Notes to Financial Statements.

 

64   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
Sweden – 6.0%      

AAK AB

     24,709      $ 447,021  

AddTech AB, Class B

     25,913        480,548  

Alfa Laval AB

     60,552        2,158,828  

Assa Abloy AB, Class B

     129,856        3,109,416  

Atlas Copco AB, Class A

     316,428        4,013,958  

Atlas Copco AB, Class B

     199,236        2,289,872  

Avanza Bank Holding AB(a)

     44,036        1,031,939  

Beijer Ref AB(a)

     19,640        344,141  

Bilia AB, Class A

     41,537        512,726  

Elekta AB, Class B(a)

     83,420        636,176  

Epiroc AB, Class A

     88,870        1,763,765  

Epiroc AB, Class B

     48,460        824,603  

Essity AB, Class B(a)

     108,487        3,100,959  

Evolution AB(b)

     20,737        2,776,119  

Husqvarna AB, Class B(a)

     154,960        1,342,547  

Instalco AB(a)

     33,068        159,384  

Investment AB Latour, Class B

     66,561        1,351,818  

Loomis AB

     15,773        539,986  

Nibe Industrier AB, Class B

     64,461        732,289  

Nolato AB, Class B

     54,717        277,291  

Nordnet AB publ

     65,828        1,083,956  

Sagax AB, Class B(a)

     22,522        518,658  

Sandvik AB

     201,224        4,265,280  

Securitas AB, Class B(a)

     141,761        1,261,550  

Telefonaktiebolaget LM Ericsson, Class B(a)

     835,652        4,883,578  
     

 

 

 
Total Sweden               39,906,408  
Switzerland – 17.3%      

ABB Ltd., Registered Shares

     338,083        11,609,286  

Coca-Cola HBC AG*

     64,636        1,768,612  

Geberit AG, Registered Shares

     5,620        3,132,509  

Givaudan SA, Registered Shares

     1,158        3,768,523  

Logitech International SA, Registered Shares

     19,776        1,149,478  

Lonza Group AG, Registered Shares

     2,258        1,352,996  

Nestle SA, Registered Shares

     219,577        26,790,052  

Novartis AG, Registered Shares

     290,270        26,613,776  

Partners Group Holding AG

     5,619        5,269,946  

Roche Holding AG

     57,993        16,565,348  

Roche Holding AG, Bearer Shares

     8,321        2,504,816  

Schindler Holding AG, Participation Certificate

     9,026        1,996,776  

Schindler Holding AG, Registered Shares

     7,578        1,600,957  

SGS SA, Registered Shares

     1,571        3,458,246  

Sika AG, Registered Shares

     11,332        3,169,313  

Sonova Holding AG, Registered Shares

     5,859        1,722,651  

Stadler Rail AG(a)

     18,559        725,255  

Straumann Holding AG, Registered Shares(a)

     4,617        689,101  

Sulzer AG, Registered Shares(a)

     12,279        1,041,003  

Temenos AG, Registered Shares

     7,501        519,581  
     

 

 

 
Total Switzerland               115,448,225  
United Kingdom – 13.2%      

Airtel Africa PLC(b)

     842,965        1,110,033  

AJ Bell PLC

     61,859        264,028  

Ashtead Group PLC

     44,398        2,721,739  

Auto Trader Group PLC(b)

     98,838      753,047  

Burberry Group PLC

     61,873        1,978,364  

Compass Group PLC

     148,484        3,732,447  

Diageo PLC

     273,685        12,229,698  

Drax Group PLC

     104,375        784,006  

Fevertree Drinks PLC

     7,874        125,008  

Fresnillo PLC

     156,140        1,440,222  

Games Workshop Group PLC

     9,429        1,123,878  

Greggs PLC

     17,772        609,564  

Halma PLC

     20,803        573,341  

Hargreaves Lansdown PLC

     142,271        1,406,232  

IMI PLC

     32,569        617,741  

Imperial Brands PLC

     384,420        8,859,893  

Intertek Group PLC

     27,133        1,359,725  

Kainos Group PLC

     15,037        256,948  

RELX PLC

     272,186        8,810,732  

Rentokil Initial PLC

     152,134        1,112,836  

Rightmove PLC

     92,662        645,040  

Rotork PLC

     113,854        443,159  

RS Group PLC

     59,843        676,295  

Sage Group PLC

     163,622        1,567,906  

Smith & Nephew PLC

     153,290        2,126,588  

Spectris PLC

     18,180        822,494  

Spirax-Sarco Engineering PLC

     5,536        811,473  

Spirent Communications PLC

     90,612        194,160  

Tate & Lyle PLC

     75,663        734,021  

Unilever PLC

     569,093        29,483,147  

Victrex PLC

     18,385        362,123  
     

 

 

 
Total United Kingdom               87,735,888  
United States – 3.8%

 

GSK PLC

     1,435,098        25,356,562  

TOTAL COMMON STOCKS

(Cost: $603,813,029)

 

 

     663,051,667  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.6%

 

United States – 3.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $23,845,723)      23,845,723        23,845,723  

TOTAL INVESTMENTS IN SECURITIES – 103.2%

(Cost: $627,658,752)

 

 

     686,897,390  

Other Assets less Liabilities – (3.2)%

 

     (20,981,566
     

 

 

 
NET ASSETS – 100.0%

 

   $ 665,915,824  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $30,557,656 and the total market value of the collateral held by the Fund was $32,381,262. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $8,535,539.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

WisdomTree Trust      65  


Schedule of Investments (concluded)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 663,051,667      $      $      $ 663,051,667  

Investment of Cash Collateral for Securities Loaned

            23,845,723               23,845,723  

Total Investments in Securities

   $ 663,051,667      $ 23,845,723      $      $ 686,897,390  

 

See Notes to Financial Statements.

 

66   WisdomTree Trust


Schedule of Investments

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.5%      
Australia – 13.5%      

Abacus Property Group

     2,840,493      $ 4,946,294  

Accent Group Ltd.

     988,998        1,569,844  

Adbri Ltd.(a)

     1,752,430        1,860,299  

APM Human Services International Ltd.(a)

     435,283        580,146  

ARB Corp. Ltd.(a)

     79,721        1,688,826  

AUB Group Ltd.

     86,606        1,479,692  

Austal Ltd.

     424,486        490,417  

Australian Clinical Labs Ltd.(a)

     1,193,488        2,821,666  

Baby Bunting Group Ltd.(a)

     337,326        451,848  

Bapcor Ltd.

     394,600        1,686,128  

Bega Cheese Ltd.

     312,513        757,686  

Blackmores Ltd.

     10,366        488,206  

Bravura Solutions Ltd.(a)

     930,329        249,235  

Breville Group Ltd.(a)

     84,740        1,084,013  

BWP Trust

     1,370,292        3,469,108  

Cedar Woods Properties Ltd.

     277,757        825,963  

Centuria Capital Group

     1,943,762        1,965,771  

Centuria Industrial REIT(a)

     1,206,599        2,424,360  

Champion Iron Ltd.(a)

     748,764        3,580,602  

Charter Hall Long Wale REIT

     2,377,737        6,672,532  

Codan Ltd.

     383,982        1,399,016  

Collins Foods Ltd.(a)

     135,552        753,524  

Costa Group Holdings Ltd.

     575,875        995,086  

Cromwell Property Group

     7,487,522        2,783,197  

CSR Ltd.

     1,620,980        5,156,845  

Dalrymple Bay Infrastructure Ltd.

     446,440        801,329  

Data#3 Ltd.

     142,629        695,428  

DDH1 Ltd.

     961,360        579,484  

Deterra Royalties Ltd.

     1,900,877        6,110,941  

Dicker Data Ltd.

     276,337        1,515,779  

Domain Holdings Australia Ltd.(a)

     488,120        1,147,484  

Eagers Automotive Ltd.(a)

     479,274        4,330,207  

Elders Ltd.

     295,386        1,707,315  

First Resources Ltd.

     3,617,200        4,271,373  

G8 Education Ltd.

     1,203,878        975,620  

GR Engineering Services Ltd.

     389,077        493,807  

GrainCorp Ltd., Class A

     217,044        1,004,474  

Growthpoint Properties Australia Ltd.

     1,793,180        3,650,987  

GUD Holdings Ltd.(a)

     239,367        1,569,495  

GWA Group Ltd.

     565,913        619,698  

Hansen Technologies Ltd.

     199,608        617,636  

Helia Group Ltd.

     1,614,679        3,103,709  

HMC Capital Ltd.(a)

     304,660        732,525  

HomeCo Daily Needs REIT

     4,436,684        3,432,048  

HUB24 Ltd.

     27,912        515,209  

Infomedia Ltd.

     576,828        575,633  

Ingenia Communities Group

     430,514        1,087,030  

Inghams Group Ltd.

     386,537        807,716  

Insignia Financial Ltd.

     1,580,022        2,899,523  

Integral Diagnostics Ltd.(a)

     262,808        517,486  

InvoCare Ltd.(a)

     179,675        1,422,388  

IPH Ltd.

     242,676        1,202,739  

IRESS Ltd.

     289,095      1,920,725  

IVE Group Ltd.

     547,277        905,351  

Jumbo Interactive Ltd.

     77,728        655,935  

Kelsian Group Ltd.(a)

     260,818        1,021,895  

Link Administration Holdings Ltd.

     200,747        283,690  

Lovisa Holdings Ltd.

     177,417        2,880,320  

Maas Group Holdings Ltd.(a)

     289,247        542,425  

McMillan Shakespeare Ltd.

     298,749        2,881,256  

Monadelphous Group Ltd.

     167,156        1,405,007  

Monash IVF Group Ltd.

     1,006,247        721,110  

Myer Holdings Ltd.(a)

     2,473,079        1,474,147  

MyState Ltd.

     291,363        702,506  

Navigator Global Investments Ltd.

     1,318,345        927,110  

Netwealth Group Ltd.

     158,078        1,431,400  

Nick Scali Ltd.(a)

     217,210        1,360,205  

NRW Holdings Ltd.

     1,090,281        1,752,518  

Nufarm Ltd.

     182,238        696,928  

Omni Bridgeway Ltd.*

     199,029        354,577  

oOh!media Ltd.

     626,453        681,796  

Orora Ltd.

     2,084,518        4,774,684  

Pacific Current Group Ltd.(a)

     88,026        392,054  

Pact Group Holdings Ltd.

     471,661        353,802  

Perpetual Ltd.

     163,257        2,401,137  

Perseus Mining Ltd.

     1,034,769        1,649,427  

Pinnacle Investment Management Group Ltd.(a)

     316,722        1,665,178  

PSC Insurance Group Ltd.

     286,945        922,471  

PWR Holdings Ltd.

     68,455        457,102  

Region RE Ltd.

     2,958,377        4,656,228  

Reliance Worldwide Corp. Ltd.

     1,059,757        2,611,963  

Ridley Corp. Ltd.

     527,235        780,386  

Sims Ltd.

     700,462        7,276,277  

SmartGroup Corp. Ltd.

     559,883        2,403,633  

SRG Global Ltd.

     1,281,298        643,612  

Super Retail Group Ltd.

     563,670        4,737,852  

Terracom Ltd.(a)

     2,963,050        1,329,617  

Ventia Services Group Pty. Ltd.

     863,895        1,527,488  

Waypoint REIT Ltd.

     2,044,114        3,545,828  
     

 

 

 
Total Australia               161,295,007  
Austria – 1.7%      

AT&S Austria Technologie & Systemtechnik AG

     29,998        923,964  

Lenzing AG

     76,792        5,798,431  

Oesterreichische Post AG(a)

     134,512        4,976,086  

Porr AG

     41,958        615,401  

S IMMO AG

     54,092        780,442  

Schoeller-Bleckmann Oilfield Equipment AG

     7,428        478,560  

Semperit AG Holding

     73,240        1,973,375  

UNIQA Insurance Group AG

     448,710        3,783,007  

Zumtobel Group AG

     64,095        496,505  
     

 

 

 
Total Austria               19,825,771  
Belgium – 1.6%      

Barco NV

     52,450        1,563,649  

Bekaert SA

     88,175        3,985,185  

bpost SA

     513,912        2,928,491  

 

See Notes to Financial Statements.

 

WisdomTree Trust      67  


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Econocom Group SA/NV

     520,074      $ 1,672,501  

Fagron

     25,783        440,628  

Intervest Offices & Warehouses NV(a)

     65,706        1,249,260  

Recticel SA(a)

     30,917        575,729  

VGP NV(a)

     68,188        6,089,610  

Xior Student Housing NV(a)

     28,827        970,892  
     

 

 

 
Total Belgium               19,475,945  
China – 0.4%      

CITIC Telecom International Holdings Ltd.

     6,944,822        2,831,028  

CPMC Holdings Ltd.

     698,009        383,241  

Yanlord Land Group Ltd.

     1,518,200        1,039,120  
     

 

 

 
Total China               4,253,389  
Denmark – 2.8%      

Alm Brand A/S

     1,482,718        2,772,304  

Cementir Holding NV

     146,027        1,251,757  

Chemometec A/S*

     5,283        302,192  

D/S Norden A/S

     158,917        10,689,417  

Dfds A/S

     64,612        2,617,820  

FLSmidth & Co. A/S

     33,277        1,272,539  

Per Aarsleff Holding A/S

     23,906        1,028,545  

Scandinavian Tobacco Group A/S(b)

     176,310        3,502,260  

Schouw & Co. A/S

     23,464        1,967,724  

Spar Nord Bank A/S

     154,856        2,443,710  

Sydbank A/S

     135,786        6,115,425  
     

 

 

 
Total Denmark               33,963,693  
Finland – 2.7%      

Aktia Bank Oyj

     74,242        770,305  

Anora Group Oyj(a)

     94,926        571,353  

Cargotec Oyj, Class B

     52,092        2,534,340  

Caverion Oyj

     158,886        1,479,368  

Citycon Oyj(a)

     324,204        2,217,297  

Fiskars Oyj Abp(a)

     91,927        1,568,023  

Harvia Oyj

     25,983        618,785  

Kemira Oyj

     274,535        4,837,916  

Konecranes Oyj

     130,034        4,356,934  

Lassila & Tikanoja Oyj(a)

     77,519        850,627  

Marimekko Oyj

     44,734        474,348  

Musti Group Oyj*

     28,217        493,874  

Outokumpu Oyj(a)

     517,309        2,822,516  

Puuilo Oyj

     149,738        1,093,229  

Raisio Oyj, Class V(a)

     241,081        657,425  

Sanoma Oyj

     155,718        1,372,048  

Terveystalo Oyj(a)(b)

     205,318        1,565,935  

Tokmanni Group Corp.(a)

     137,834        1,903,319  

Uponor Oyj(a)

     100,560        1,860,585  
     

 

 

 
Total Finland               32,048,227  
France – 2.9%      

Beneteau SA

     75,224        1,258,597  

Cie Plastic Omnium SA

     86,860        1,583,513  

Coface SA

     500,636        7,098,103  

Derichebourg SA

     337,270        1,978,706  

Etablissements Maurel et Prom SA

     286,519        1,072,389  

Fnac Darty SA

     50,327      1,857,950  

IPSOS

     49,397        3,064,407  

Jacquet Metals SACA(a)

     35,408        688,595  

Lectra

     20,521        810,425  

LISI(a)

     21,466        569,050  

Maisons du Monde SA(a)(b)

     78,275        842,340  

Mersen SA

     18,335        817,718  

Metropole Television SA(a)

     278,651        4,525,968  

Quadient SA

     40,753        742,953  

Television Francaise 1(a)

     439,209        3,881,848  

Trigano SA

     11,014        1,435,939  

Vicat SA(a)

     93,252        2,801,322  
     

 

 

 
Total France               35,029,823  
Georgia – 0.4%      

Bank of Georgia Group PLC

     137,010        4,658,666  
Germany – 3.4%

 

7C Solarparken AG

     108,401        445,179  

alstria office REIT AG(a)

     52,202        345,110  

AURELIUS Equity Opportunities SE & Co. KGaA

     60,080        969,318  

BayWa AG

     21,619        954,786  

Bilfinger SE

     46,683        1,983,103  

CompuGroup Medical SE & Co. KGaA

     26,031        1,339,972  

CropEnergies AG

     82,384        1,011,419  

Dermapharm Holding SE

     88,836        3,646,369  

Deutz AG

     177,749        1,153,864  

Duerr AG

     40,048        1,437,575  

Energiekontor AG

     6,734        485,793  

Gerresheimer AG

     19,807        1,961,485  

Hamborner REIT AG

     166,104        1,319,189  

Hamburger Hafen und Logistik AG

     132,089        1,633,122  

Hornbach Holding AG & Co. KGaA

     17,927        1,434,465  

Indus Holding AG

     34,744        943,690  

Instone Real Estate Group SE(b)

     127,684        1,082,034  

Jenoptik AG

     24,067        818,943  

JOST Werke AG(b)

     15,485        818,472  

Kloeckner & Co. SE

     375,090        4,036,451  

Mutares SE & Co. KGaA

     44,059        939,168  

SAF-Holland SE

     73,881        943,149  

Salzgitter AG

     62,863        2,486,029  

Siltronic AG

     45,758        3,340,766  

Varta AG(a)

     107,664        2,953,531  

Wacker Neuson SE

     80,405        1,685,097  

Wuestenrot & Wuerttembergische AG

     36,552        640,156  
     

 

 

 
Total Germany               40,808,235  
Hong Kong – 1.0%      

Dah Sing Banking Group Ltd.

     940,800        720,286  

Dah Sing Financial Holdings Ltd.

     346,629        889,760  

Fortune Real Estate Investment Trust

     4,431,000        3,669,004  

Hutchison Port Holdings Trust

     18,741,200        3,504,604  

Nissin Foods Co. Ltd.(a)

     1,165,000        1,028,472  

Singamas Container Holdings Ltd.(a)

     13,170,000        1,040,185  

 

See Notes to Financial Statements.

 

68   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Tam Jai International Co. Ltd.

     3,769,000      $ 1,118,704  
     

 

 

 
Total Hong Kong               11,971,015  
Indonesia – 0.3%      

Bumitama Agri Ltd.

     1,792,600        761,776  

Nickel Industries Ltd.

     5,154,888        3,107,238  
     

 

 

 
Total Indonesia               3,869,014  
Ireland – 0.3%      

Cairn Homes PLC

     1,311,676        1,453,572  

Kenmare Resources PLC

     210,099        1,219,653  

Origin Enterprises PLC

     200,975        901,782  
     

 

 

 
Total Ireland               3,575,007  
Israel – 2.6%      

Altshuler Shaham Penn Ltd.

     753,339        1,471,884  

Ashtrom Group Ltd.

     1        8  

AudioCodes Ltd.

     23,023        336,651  

Automatic Bank Services Ltd.

     110,697        379,069  

Azorim-Investment Development & Construction Co. Ltd.

     130,393        324,185  

Carasso Motors Ltd.

     103,254        486,353  

Delek Automotive Systems Ltd.

     204,722        1,899,591  

Delta Galil Ltd.

     19,864        785,038  

Electra Consumer Products 1970 Ltd.

     15,209        410,315  

Electra Real Estate Ltd.

     87,109        767,872  

FIBI Holdings Ltd.

     58,856        2,198,529  

G City Ltd.

     496,104        1,632,714  

Gav-Yam Lands Corp. Ltd.

     209,447        1,526,942  

Harel Insurance Investments & Financial Services Ltd.

     373,731        3,134,622  

Israel Canada T.R Ltd.

     234,401        425,101  

Israel Land Development Co. Ltd.

     32,149        264,735  

Magic Software Enterprises Ltd.

     57,978        760,019  

Matrix IT Ltd.

     106,482        1,867,830  

Max Stock Ltd.

     511,125        995,804  

Maytronics Ltd.

     111,996        1,186,015  

Mediterranean Towers Ltd.*

     202,447        398,243  

Mega Or Holdings Ltd.

     43,733        931,588  

Mehadrin Ltd.*

     1        28  

Migdal Insurance & Financial Holdings Ltd.*

     422,264        449,161  

Oil Refineries Ltd.

     5,193,019        1,414,842  

One Software Technologies Ltd.

     62,396        632,512  

Paz Oil Co. Ltd.*

     1        56  

Plus500 Ltd.(a)

     222,563        4,656,182  

Shufersal Ltd.

     186,808        903,261  

Tamar Petroleum Ltd.(b)

     120,077        334,487  
     

 

 

 
Total Israel               30,573,637  
Italy – 4.3%      

Alerion Cleanpower SpA

     31,771        1,019,995  

Anima Holding SpA(a)(b)

     896,569        3,648,894  

Ariston Holding NV

     46,630        514,211  

Arnoldo Mondadori Editore SpA

     301,898        640,906  

Azimut Holding SpA(a)

     323,470        6,923,249  

Banca Popolare di Sondrio SpA

     702,715        2,988,201  

Cairo Communication SpA

     450,467        915,197  

Carel Industries SpA(b)

     21,434      586,832  

Credito Emiliano SpA

     297,260        2,202,574  

Danieli & C. Officine Meccaniche SpA(a)

     28,067        745,563  

El.En. SpA

     34,492        450,810  

Enav SpA(b)

     390,340        1,635,271  

Esprinet SpA

     112,324        1,125,157  

Immobiliare Grande Distribuzione SIIQ SpA(a)

     339,288        1,043,193  

Iren SpA

     2,533,940        4,859,043  

Maire Tecnimont SpA(a)

     591,541        2,543,726  

MARR SpA

     85,547        1,230,559  

OVS SpA(b)

     202,302        529,696  

Piaggio & C. SpA

     814,163        3,478,040  

RAI Way SpA(b)

     520,067        3,130,248  

Salcef Group SpA(a)

     53,857        1,258,028  

Sanlorenzo SpA(a)

     21,489        933,869  

SOL SpA

     76,989        2,066,024  

Technogym SpA(a)(b)

     155,793        1,387,096  

Unieuro SpA(a)(b)

     71,098        838,874  

Webuild SpA(a)

     1,055,808        2,408,873  

Zignago Vetro SpA

     88,855        1,733,796  
     

 

 

 
Total Italy               50,837,925  
Japan – 27.4%      

77 Bank Ltd.(a)

     94,600        1,536,744  

ADEKA Corp.(a)

     69,401        1,177,455  

Aeon Delight Co. Ltd.

     30,400        694,387  

Ai Holdings Corp.

     47,800        822,825  

Aica Kogyo Co. Ltd.(a)

     46,600        1,062,672  

Aichi Corp.

     137,700        823,572  

AIT Corp.

     100        1,214  

Alinco, Inc.(a)

     74,000        586,596  

Alleanza Holdings Co. Ltd.

     100        739  

Alps Alpine Co. Ltd.(a)

     116,300        1,108,909  

Amano Corp.

     52,500        984,202  

Anritsu Corp.

     72,200        662,380  

Arcs Co. Ltd.(a)

     62,600        1,055,955  

Ariake Japan Co. Ltd.(a)

     15,400        564,671  

As One Corp.(a)

     15,500        653,355  

Asahi Holdings, Inc.(a)

     86,200        1,309,613  

Asanuma Corp.(a)

     40,900        957,273  

ASKUL Corp.

     43,600        564,451  

Autobacs Seven Co. Ltd.

     101,003        1,096,621  

Bando Chemical Industries Ltd.

     97,900        778,257  

Bank of Nagoya Ltd.

     32,500        770,437  

Baroque Japan Ltd.

     100        616  

Bell System24 Holdings, Inc.

     87,000        943,933  

Benesse Holdings, Inc.(a)

     48,400        705,508  

BML, Inc.(a)

     28,000        649,035  

Bunka Shutter Co. Ltd.(a)

     65,800        546,809  

C. Uyemura & Co. Ltd.(a)

     14,300        696,251  

Central Glass Co. Ltd.

     27,200        600,243  

Chori Co. Ltd.

     43,900        827,269  

Citizen Watch Co. Ltd.(a)

     294,500        1,721,549  

CKD Corp.

     65,900        1,064,580  

Cybernet Systems Co. Ltd.(a)

     40,200        267,919  

 

See Notes to Financial Statements.

 

WisdomTree Trust      69  


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Daicel Corp.

     223,200      $ 1,677,061  

Daido Metal Co. Ltd.

     100        384  

Daido Steel Co. Ltd.(a)

     43,291        1,691,436  

Daihen Corp.

     21,500        716,451  

Daiho Corp.(a)

     28,600        790,803  

Daiichikosho Co. Ltd.

     75,200        1,234,028  

Daiken Corp.

     42,700        731,505  

Dainichiseika Color & Chemicals Manufacturing Co. Ltd.

     100        1,340  

Daio Paper Corp.(a)

     105,000        815,764  

Daiseki Co. Ltd.

     14,100        444,432  

Daishi Hokuetsu Financial Group, Inc.

     52,140        1,132,201  

Daiwabo Holdings Co. Ltd.

     71,200        1,167,853  

DCM Holdings Co. Ltd.

     82,900        719,434  

Denka Co. Ltd.

     66,800        1,372,740  

Dexerials Corp.(a)

     33,900        684,674  

DIC Corp.

     66,300        1,185,619  

Dip Corp.(a)

     19,000        504,659  

DMG Mori Co. Ltd.

     94,000        1,573,612  

DTS Corp.

     40,200        972,605  

Eagle Industry Co. Ltd.

     73,100        652,512  

Earth Corp.

     26,700        949,917  

EDION Corp.(a)

     113,200        1,090,408  

Eiken Chemical Co. Ltd.

     53,800        631,824  

Elecom Co. Ltd.

     67,500        636,505  

Elematec Corp.

     80,300        1,118,010  

en Japan, Inc.(a)

     27,400        469,191  

ES-Con Japan Ltd.(a)

     143,300        935,665  

Exedy Corp.

     99,100        1,349,976  

EXEO Group, Inc.

     81,400        1,466,044  

Ezaki Glico Co. Ltd.

     29,000        726,689  

Feed One Co. Ltd.(a)

     32,400        164,568  

Financial Partners Group Co. Ltd.

     105,800        918,168  

Food & Life Cos. Ltd.

     27,500        710,797  

France Bed Holdings Co. Ltd.(a)

     112,200        891,935  

Fudo Tetra Corp.

     100        1,225  

Fuji Corp. Ltd.(a)

     224,200        1,143,826  

Fuji Oil Holdings, Inc.(a)

     39,300        567,841  

Fuji Pharma Co. Ltd.

     101,400        863,222  

Fuji Soft, Inc.(a)

     13,800        795,296  

Fujikura Ltd.

     89,100        627,965  

Fujimi, Inc.(a)

     25,241        1,384,471  

Fujitec Co. Ltd.(a)

     44,700        1,103,310  

Fukuyama Transporting Co. Ltd.

     26,900        725,607  

Funai Soken Holdings, Inc.(a)

     44,000        895,935  

Furukawa Electric Co. Ltd.(a)

     40,100        741,499  

Furyu Corp.

     100        899  

Futaba Industrial Co. Ltd.

     100        320  

Future Corp.

     53,200        727,108  

Gecoss Corp.(a)

     140,100        929,509  

Glory Ltd.(a)

     38,277        832,609  

Goldcrest Co. Ltd.(a)

     66,300        850,856  

GS Yuasa Corp.(a)

     36,200        647,895  

Gunma Bank Ltd.(a)

     363,100        1,208,605  

H.U. Group Holdings, Inc.(a)

     67,100      1,344,118  

Hachijuni Bank Ltd.

     405,000        1,749,756  

Hakudo Co. Ltd.(a)

     11,200        220,230  

Hakuto Co. Ltd.(a)

     40,300        1,488,275  

Hanwa Co. Ltd.(a)

     25,200        746,968  

Hazama Ando Corp.(a)

     159,700        1,027,149  

Heiwa Corp.

     77,319        1,527,325  

Heiwa Real Estate Co. Ltd.

     28,800        819,055  

Hirogin Holdings, Inc.(a)

     335,700        1,578,993  

Hochiki Corp.

     73,900        859,548  

Hogy Medical Co. Ltd.(a)

     16,200        386,468  

Hokkaido Gas Co. Ltd.

     59,100        862,809  

Hokuhoku Financial Group, Inc.(a)

     114,300        794,406  

Horiba Ltd.

     31,100        1,848,381  

Hyakujushi Bank Ltd.

     73,700        1,017,258  

I-PEX, Inc.

     18,200        192,543  

Ichibanya Co. Ltd.(a)

     24,600        931,580  

Ichigo, Inc.

     235,200        489,521  

Idec Corp.(a)

     33,400        862,041  

Iino Kaiun Kaisha Ltd.

     162,400        1,225,108  

Inaba Denki Sangyo Co. Ltd.

     70,700        1,535,224  

Inabata & Co. Ltd.(a)

     54,600        1,102,338  

Information Services International-Dentsu Ltd.

     33,300        1,301,074  

INFRONEER Holdings, Inc.

     183,888        1,412,079  

Inui Global Logistics Co. Ltd.(a)

     70,100        944,393  

Itochu Enex Co. Ltd.

     162,101        1,375,100  

Itoham Yonekyu Holdings, Inc.(a)

     228,800        1,203,396  

Izumi Co. Ltd.

     42,600        1,006,665  

JAC Recruitment Co. Ltd.

     58,700        1,148,948  

Japan Aviation Electronics Industry Ltd.(a)

     59,400        1,025,631  

Japan Lifeline Co. Ltd.

     76,000        523,075  

Japan Steel Works Ltd.(a)

     31,100        579,284  

Japan Transcity Corp.

     100        458  

Jeol Ltd.

     12,200        389,128  

Joyful Honda Co. Ltd.

     81,800        1,052,847  

Juki Corp.

     60,700        284,595  

Juroku Financial Group, Inc.

     52,900        1,122,471  

K’s Holdings Corp.(a)

     216,900        1,895,369  

Kaga Electronics Co. Ltd.

     32,700        1,230,949  

Kaken Pharmaceutical Co. Ltd.

     25,600        710,737  

Kanamoto Co. Ltd.

     50,500        826,805  

Kandenko Co. Ltd.

     116,700        819,855  

Kaneka Corp.

     36,600        948,756  

Kanematsu Corp.

     101,400        1,251,024  

Katitas Co. Ltd.

     27,500        532,891  

Kato Sangyo Co. Ltd.

     39,100        1,031,189  

KH Neochem Co. Ltd.

     40,700        733,328  

Ki-Star Real Estate Co. Ltd.(a)

     17,200        535,683  

Kitz Corp.

     130,800        912,032  

Koatsu Gas Kogyo Co. Ltd.

     100        529  

Kobe Steel Ltd.

     488,000        3,861,026  

Kojima Co. Ltd.

     100        421  

Kokuyo Co. Ltd.

     92,000        1,298,189  

KOMEDA Holdings Co. Ltd.

     52,000        919,348  

 

See Notes to Financial Statements.

 

70   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Komeri Co. Ltd.

     37,600      $ 772,963  

Konica Minolta, Inc.(a)

     455,100        1,945,690  

Kumagai Gumi Co. Ltd.

     34,800        695,268  

Kumiai Chemical Industry Co. Ltd.

     81,000        517,319  

Kurabo Industries Ltd.

     52,895        1,000,351  

Kureha Corp.(a)

     11,200        711,098  

KYB Corp.

     37,600        1,135,713  

KYORIN Holdings, Inc.

     46,390        593,948  

Kyudenko Corp.(a)

     45,200        1,142,821  

Kyushu Financial Group, Inc.(a)

     310,600        1,113,203  

LEC, Inc.

     100        605  

Life Corp.

     34,800        674,873  

Lintec Corp.

     85,930        1,397,839  

Mabuchi Motor Co. Ltd.

     34,800        1,007,995  

Macnica Holdings, Inc.

     68,800        1,943,707  

Makino Milling Machine Co. Ltd.(a)

     12,400        452,341  

Mani, Inc.(a)

     29,900        405,736  

Maruha Nichiro Corp.

     51,800        924,374  

Maruichi Steel Tube Ltd.

     73,500        1,607,070  

Matsui Securities Co. Ltd.(a)

     195,840        1,152,173  

Max Co. Ltd.

     50,900        810,790  

MCJ Co. Ltd.

     94,100        658,255  

Megmilk Snow Brand Co. Ltd.

     77,600        1,027,942  

Meitec Corp.

     77,500        1,376,587  

MIRAIT ONE Corp.

     77,000        954,039  

Mitsubishi Logistics Corp.

     61,500        1,437,110  

Mitsubishi Materials Corp.

     71,300        1,155,565  

Mitsubishi Shokuhin Co. Ltd.

     38,700        945,037  

Mitsuboshi Belting Ltd.(a)

     58,900        1,741,464  

Mitsui High-Tec, Inc.

     8,000        502,517  

Mitsui Matsushima Holdings Co. Ltd.(a)

     20,700        510,929  

Mitsui Mining & Smelting Co. Ltd.(a)

     60,364        1,458,188  

Mitsui-Soko Holdings Co. Ltd.(a)

     39,900        1,176,704  

MIXI, Inc.

     88,300        1,766,133  

Mochida Pharmaceutical Co. Ltd.(a)

     30,200        757,893  

Monex Group, Inc.(a)

     182,900        655,521  

Morinaga & Co. Ltd.

     38,100        1,074,953  

Morinaga Milk Industry Co. Ltd.

     21,600        774,153  

Musashi Seimitsu Industry Co. Ltd.(a)

     53,500        750,503  

Nachi-Fujikoshi Corp.(a)

     33,000        979,412  

Nagase & Co. Ltd.(a)

     77,000        1,177,361  

Nakanishi, Inc.

     36,900        728,352  

NEC Networks & System Integration Corp.

     74,600        905,245  

NET One Systems Co. Ltd.

     35,800        851,356  

Neturen Co. Ltd.

     53,400        278,856  

NHK Spring Co. Ltd.

     239,600        1,704,870  

Nichias Corp.

     69,600        1,391,582  

Nichicon Corp.(a)

     59,800        620,062  

Nichiha Corp.

     38,300        776,705  

Nihon Kohden Corp.

     28,200        760,673  

Nihon Nohyaku Co. Ltd.

     100        506  

Nihon Parkerizing Co. Ltd.

     164,100        1,223,136  

Nikkon Holdings Co. Ltd.(a)

     55,400        1,030,243  

Nippn Corp.

     107,900        1,345,811  

Nippon Air Conditioning Services Co. Ltd.(a)

     14,100      76,385  

Nippon Carbon Co. Ltd.

     33,600        1,035,089  

Nippon Denko Co. Ltd.(a)

     241,500        647,798  

Nippon Electric Glass Co. Ltd.

     127,300        2,438,107  

Nippon Gas Co. Ltd.

     83,300        1,204,217  

Nippon Kanzai Co. Ltd.*(a)

     45,500        920,666  

Nippon Kayaku Co. Ltd.(a)

     182,499        1,641,380  

Nippon Koei Co. Ltd.

     27,300        691,269  

Nippon Light Metal Holdings Co. Ltd.(a)

     67,900        745,885  

Nippon Pillar Packing Co. Ltd.(a)

     40,100        1,129,875  

Nippon Shokubai Co. Ltd.

     38,300        1,519,453  

Nippon Soda Co. Ltd.

     37,300        1,293,407  

Nippon Steel Trading Corp.

     39,773        2,776,250  

Nipro Corp.(a)

     77,000        589,548  

Nishi-Nippon Financial Holdings, Inc.

     191,800        1,567,950  

Nishi-Nippon Railroad Co. Ltd.(a)

     44,400        797,992  

Nishimatsu Construction Co. Ltd.(a)

     65,800        1,693,328  

Nishio Rent All Co. Ltd.

     39,600        923,871  

Nisshinbo Holdings, Inc.

     149,192        1,134,438  

Nissui Corp.

     233,400        952,259  

Nitta Corp.(a)

     59,500        1,310,350  

Nitto Kogyo Corp.(a)

     34,700        688,838  

Noevir Holdings Co. Ltd.

     40,100        1,627,019  

NOK Corp.(a)

     151,700        1,667,572  

Noritake Co. Ltd.

     24,700        851,852  

North Pacific Bank Ltd.

     421,400        880,225  

NS United Kaiun Kaisha Ltd.(a)

     36,200        1,119,265  

NSD Co. Ltd.

     76,600        1,372,112  

Ogaki Kyoritsu Bank Ltd.(a)

     75,700        1,015,855  

Ohsho Food Service Corp.(a)

     20,700        936,314  

Okamura Corp.

     91,900        941,856  

Okasan Securities Group, Inc.(a)

     431,900        1,528,476  

Okinawa Cellular Telephone Co.

     61,000        1,388,760  

OKUMA Corp.(a)

     22,300        990,255  

Okumura Corp.(a)

     36,300        853,701  

Onward Holdings Co. Ltd.

     247,300        711,668  

Open Up Group, Inc.

     60,700        875,222  

Organo Corp.(a)

     28,500        771,978  

Osaka Soda Co. Ltd.(a)

     21,000        687,167  

OSG Corp.

     71,500        1,068,014  

PAL GROUP Holdings Co. Ltd.

     50,200        1,163,626  

PALTAC Corp.(a)

     23,600        890,165  

Paramount Bed Holdings Co. Ltd.

     43,500        770,704  

Penta-Ocean Construction Co. Ltd.(a)

     173,900        825,793  

PHC Holdings Corp.

     108,400        1,166,345  

Pigeon Corp.

     80,600        1,240,885  

Pilot Corp.

     17,700        571,869  

Piolax, Inc.(a)

     36,000        522,053  

Press Kogyo Co. Ltd.

     259,600        971,379  

Prima Meat Packers Ltd.

     72,000        1,190,713  

Raito Kogyo Co. Ltd.

     53,900        790,134  

Raiznext Corp.

     90,300        987,200  

Relia, Inc.

     27,600        302,150  

Rengo Co. Ltd.(a)

     147,600        952,652  

 

See Notes to Financial Statements.

 

WisdomTree Trust      71  


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Resorttrust, Inc.

     61,500      $ 974,555  

Riken Corp.

     100        1,948  

Roland Corp.

     23,500        703,640  

Round One Corp.(a)

     103,300        396,621  

Ryosan Co. Ltd.(a)

     41,800        1,030,160  

S Foods, Inc.(a)

     33,400        714,979  

Sakai Chemical Industry Co. Ltd.

     100        1,330  

Sakai Moving Service Co. Ltd.(a)

     16,500        574,010  

Sakata Seed Corp.

     17,500        514,126  

SAMTY Co. Ltd.(a)

     52,900        874,843  

San-Ai Obbli Co. Ltd.

     56,100        577,903  

San-In Godo Bank Ltd.

     282,800        1,570,285  

Sangetsu Corp.

     147,400        2,474,202  

Sanki Engineering Co. Ltd.(a)

     104,800        1,152,808  

Sankyu, Inc.

     32,900        1,212,522  

Sanyo Chemical Industries Ltd.

     24,400        782,839  

Sanyo Special Steel Co. Ltd.(a)

     63,500        1,169,900  

Sapporo Holdings Ltd.

     32,500        831,486  

Sawai Group Holdings Co. Ltd.

     17,700        485,423  

Scroll Corp.(a)

     120,300        730,351  

Seika Corp.(a)

     9,600        148,158  

Seiko Group Corp.

     24,700        537,279  

Seino Holdings Co. Ltd.(a)

     95,500        1,047,637  

Senko Group Holdings Co. Ltd.

     148,000        1,050,868  

Senshu Ikeda Holdings, Inc.(a)

     608,200        1,060,203  

Seria Co. Ltd.

     52,700        1,038,240  

Shiga Bank Ltd.(a)

     62,300        1,254,051  

Shin-Etsu Polymer Co. Ltd.

     78,200        876,070  

Shinsho Corp.

     20,300        884,665  

Ship Healthcare Holdings, Inc.

     31,800        582,287  

Shoei Co. Ltd.

     36,200        754,518  

Sinfonia Technology Co. Ltd.

     47,900        567,213  

SKY Perfect JSAT Holdings, Inc.

     305,800        1,187,907  

Sotetsu Holdings, Inc.(a)

     50,900        867,392  

ST Corp.

     100        1,174  

Star Micronics Co. Ltd.

     55,600        753,226  

Starts Corp., Inc.

     53,700        1,026,066  

Sumitomo Bakelite Co. Ltd.

     28,400        1,101,090  

Sumitomo Mitsui Construction Co. Ltd.(a)

     212,900        614,273  

Sumitomo Osaka Cement Co. Ltd.(a)

     26,000        728,680  

Sun Frontier Fudousan Co. Ltd.

     121,900        1,173,296  

Suncall Corp.(a)

     72,100        321,251  

Systena Corp.(a)

     199,100        433,834  

T Hasegawa Co. Ltd.(a)

     28,500        636,212  

T-Gaia Corp.(a)

     63,000        790,518  

Taiheiyo Cement Corp.

     71,400        1,334,223  

Taikisha Ltd.

     27,700        765,918  

Taiyo Holdings Co. Ltd.(a)

     41,300        775,791  

Takaoka Toko Co. Ltd.(a)

     6,400        113,054  

Takara Bio, Inc.

     52,500        683,616  

Takara Holdings, Inc.(a)

     171,300        1,315,415  

Takara Standard Co. Ltd.

     104,100        1,149,019  

Takasago Thermal Engineering Co. Ltd.

     49,500        784,398  

Takeuchi Manufacturing Co. Ltd.

     45,300        997,968  

Takuma Co. Ltd.

     67,200      670,031  

Tama Home Co. Ltd.(a)

     34,900        959,757  

Tatsuta Electric Wire & Cable Co. Ltd.

     35,100        187,513  

Tayca Corp.

     100        882  

Teijin Ltd.

     109,800        1,151,708  

Teikoku Electric Manufacturing Co. Ltd.

     49,400        910,127  

TKC Corp.(a)

     38,300        1,056,135  

Toagosei Co. Ltd.

     139,600        1,292,262  

Tocalo Co. Ltd.

     99,700        970,856  

Toda Corp.(a)

     213,100        1,106,410  

Toho Bank Ltd.(a)

     281,800        459,468  

Tokai Carbon Co. Ltd.

     123,800        1,172,049  

TOKAI Holdings Corp.(a)

     160,200        1,050,827  

Tokai Rika Co. Ltd.(a)

     67,522        825,444  

Tokai Tokyo Financial Holdings, Inc.(a)

     295,400        812,356  

Token Corp.

     11,200        668,179  

Tokuyama Corp.

     46,700        738,624  

Tokyo Kiraboshi Financial Group, Inc.(a)

     44,300        873,751  

Tokyo Ohka Kogyo Co. Ltd.

     27,000        1,560,072  

Tokyo Seimitsu Co. Ltd.

     66,400        2,554,422  

Tokyo Steel Manufacturing Co. Ltd.(a)

     99,600        1,022,268  

Tokyotokeiba Co. Ltd.

     22,300        677,763  

Tokyu Construction Co. Ltd.

     65,200        330,678  

Tomoku Co. Ltd.(a)

     97,700        1,173,809  

Tomy Co. Ltd.

     78,600        874,646  

Topcon Corp.

     71,000        950,650  

Totech Corp.

     24,600        808,663  

Totetsu Kogyo Co. Ltd.(a)

     37,800        769,406  

Towa Pharmaceutical Co. Ltd.(a)

     34,400        489,804  

Toyo Tanso Co. Ltd.

     31,300        965,411  

Toyo Tire Corp.(a)

     138,500        1,607,803  

Toyobo Co. Ltd.(a)

     86,100        672,161  

Transcosmos, Inc.(a)

     66,400        1,564,084  

TS Tech Co. Ltd.

     101,500        1,280,476  

Tsubakimoto Chain Co.

     46,700        1,128,113  

Tsumura & Co.

     45,901        907,053  

UACJ Corp.(a)

     39,900        789,965  

UBE Corp.

     79,900        1,233,710  

Ulvac, Inc.

     26,200        1,131,941  

Valor Holdings Co. Ltd.

     64,000        926,170  

Valqua Ltd.

     47,500        1,229,525  

VT Holdings Co. Ltd.

     207,800        791,604  

Wacoal Holdings Corp.(a)

     48,800        911,906  

Wacom Co. Ltd.(a)

     123,000        637,689  

Xebio Holdings Co. Ltd.

     88,200        695,182  

YAMABIKO Corp.

     62,700        619,980  

Yamagata Bank Ltd.(a)

     8,900        67,741  

Yamaguchi Financial Group, Inc.(a)

     232,400        1,417,904  

Yamaichi Electronics Co. Ltd.(a)

     51,000        753,753  

Yamazen Corp.

     109,800        839,031  

Yaoko Co. Ltd.(a)

     14,800        767,300  

Yellow Hat Ltd.(a)

     76,300        1,045,119  

Yokogawa Bridge Holdings Corp.

     59,900        973,954  

Yokorei Co. Ltd.(a)

     29,500        212,567  

 

See Notes to Financial Statements.

 

72   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Yuasa Trading Co. Ltd.

     29,300      $ 833,274  

Yurtec Corp.(a)

     75,500        470,280  
     

 

 

 
Total Japan               327,535,788  
Malaysia – 0.1%      

Frencken Group Ltd.(a)

     898,500        763,646  
Netherlands – 0.8%

 

AMG Advanced Metallurgical Group NV

     24,308        1,035,778  

Brunel International NV

     66,065        917,301  

Corbion NV

     31,169        1,024,034  

ForFarmers NV

     204,079        721,704  

Heijmans NV, CVA

     98,533        1,353,127  

Ordina NV

     194,451        1,259,117  

RHI Magnesita NV

     120,351        3,333,299  

Sligro Food Group NV

     29,081        497,938  
     

 

 

 
Total Netherlands               10,142,298  
Norway – 3.4%      

ABG Sundal Collier Holding ASA

     1,516,192        883,098  

AF Gruppen ASA

     66,055        939,760  

Aker Solutions ASA

     109,056        396,109  

AMSC ASA*

     135,760        537,954  

Atea ASA*

     151,555        1,852,273  

Austevoll Seafood ASA

     363,820        3,261,947  

Belships ASA

     1,193,622        2,302,199  

Bonheur ASA

     19,355        429,676  

Borregaard ASA

     59,698        996,382  

Bouvet ASA

     114,180        701,013  

DNO ASA(a)

     1,557,983        1,527,770  

Elopak ASA

     174,670        362,746  

Entra ASA(b)

     248,424        2,398,112  

Europris ASA(b)

     320,261        2,221,593  

Grieg Seafood ASA

     150,065        1,171,364  

Kid ASA(b)

     93,659        759,245  

MPC Container Ships ASA(a)

     2,545,309        4,055,006  

OKEA ASA(a)

     230,061        693,054  

Pareto Bank ASA

     103,954        528,053  

Protector Forsikring ASA

     144,049        1,911,832  

Rana Gruber ASA

     232,903        1,354,307  

Selvaag Bolig ASA

     138,626        490,408  

SpareBank 1 Nord Norge(a)

     269,704        2,268,757  

SpareBank 1 Oestlandet

     78,868        856,974  

SpareBank 1 SMN(a)

     203,538        2,402,087  

Sparebanken Vest

     130,079        1,142,667  

TGS ASA

     126,741        2,270,255  

Veidekke ASA

     140,711        1,494,024  
     

 

 

 
Total Norway               40,208,665  
Peru – 0.1%      

Hochschild Mining PLC

     1,069,814        1,117,742  
Portugal – 1.7%

 

Altri SGPS SA(a)

     280,527        1,446,479  

Banco Comercial Portugues SA, Class R

     3,130,067        693,735  

Corticeira Amorim SGPS SA(a)

     112,645        1,223,832  

CTT – Correios de Portugal SA(a)

     211,957        832,465  

Mota-Engil SGPS SA(a)

     382,916      660,638  

NOS SGPS SA

     1,447,827        6,631,732  

REN – Redes Energeticas Nacionais SGPS SA

     1,734,602        5,088,307  

Sonae SGPS SA

     3,321,814        3,627,029  
     

 

 

 
Total Portugal               20,204,217  
Singapore – 3.6%      

AEM Holdings Ltd.(a)

     580,000        1,387,236  

Aztech Global Ltd.

     1,091,800        665,156  

Bukit Sembawang Estates Ltd.(a)

     533,000        1,643,639  

Capitaland India Trust(a)

     2,567,900        2,105,232  

Geo Energy Resources Ltd.(a)

     6,851,800        1,700,646  

Hour Glass Ltd.

     1,398,800        2,293,546  

Japfa Ltd.(a)

     1,422,200        246,028  

Jiutian Chemical Group Ltd.

     14,730,700        808,801  

Kenon Holdings Ltd.

     142,575        4,173,526  

Keppel DC REIT

     3,427,400        5,310,401  

Keppel Infrastructure Trust(a)

     10,561,582        4,170,457  

Parkway Life Real Estate Investment Trust

     965,700        2,898,080  

Propnex Ltd.

     1,488,500        2,160,735  

Raffles Medical Group Ltd.

     1,329,100        1,489,496  

Samudera Shipping Line Ltd.

     2,469,000        2,339,844  

Sheng Siong Group Ltd.

     2,605,200        3,311,487  

Silverlake Axis Ltd.

     2,705,500        671,517  

Singapore Post Ltd.

     2,527,300        950,434  

StarHub Ltd.

     1,545,900        1,209,233  

UMS Holdings Ltd.

     2,018,698        1,685,348  

Wing Tai Holdings Ltd.

     1,297,600        1,454,194  
     

 

 

 
Total Singapore               42,675,036  
Spain – 1.9%      

Almirall SA

     95,007        887,695  

Applus Services SA

     89,285        697,941  

Atresmedia Corp. de Medios de Comunicacion SA

     715,739        2,701,433  

Construcciones y Auxiliar de Ferrocarriles SA

     31,441        874,472  

Ence Energia y Celulosa SA(a)

     571,095        2,128,199  

Faes Farma SA

     778,663        2,664,832  

Gestamp Automocion SA(b)

     364,307        1,651,283  

Indra Sistemas SA

     86,964        1,176,301  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)

     1,337,148        1,441,849  

Neinor Homes SA(b)

     154,947        1,525,180  

Pharma Mar SA(a)

     5,749        276,198  

Prosegur Cash SA(a)(b)

     2,044,288        1,568,038  

Prosegur Cia de Seguridad SA

     1,199,057        2,385,272  

Sacyr SA(a)

     911,066        2,929,889  
     

 

 

 
Total Spain               22,908,582  
Sweden – 6.1%      

AcadeMedia AB(b)

     120,650        600,367  

AddLife AB, Class B

     63,440        573,860  

AFRY AB

     125,022        2,250,976  

Akelius Residential Property AB, Class D

     476,478        955,618  

Atrium Ljungberg AB, Class B(a)

     150,806        2,457,794  

Beijer Alma AB(a)

     52,957        1,054,590  

 

See Notes to Financial Statements.

 

WisdomTree Trust      73  


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Betsson AB, Class B*

     175,186      $ 1,665,775  

Bilia AB, Class A

     199,237        2,459,348  

Bravida Holding AB(b)

     193,723        2,182,047  

Catena AB

     32,085        1,188,156  

Clas Ohlson AB, Class B(a)

     168,253        1,251,000  

Cloetta AB, Class B

     518,950        1,094,997  

Coor Service Management Holding AB(b)

     179,294        1,143,762  

Corem Property Group AB, Class B(a)

     1,950,288        1,360,747  

Dios Fastigheter AB

     223,331        1,482,836  

Dometic Group AB(a)(b)

     411,946        2,505,948  

Electrolux Professional AB, Class B

     123,038        643,100  

Elekta AB, Class B(a)

     457,205        3,486,725  

Granges AB

     106,980        1,018,778  

HMS Networks AB

     21,340        871,335  

Instalco AB(a)

     154,569        745,004  

Inwido AB

     109,114        1,159,584  

JM AB(a)

     180,443        2,989,533  

KNOW IT AB

     27,458        546,536  

Lagercrantz Group AB, Class B

     116,299        1,454,642  

Lindab International AB

     70,933        1,084,905  

Loomis AB

     63,988        2,190,620  

MEKO AB

     62,660        746,272  

MIPS AB(a)

     16,125        814,216  

Munters Group AB(a)(b)

     65,092        599,789  

Mycronic AB

     63,240        1,553,930  

NCC AB, Class B

     198,206        1,756,598  

New Wave Group AB, Class B

     44,414        761,538  

Nolato AB, Class B

     284,786        1,443,216  

Nordic Paper Holding AB

     205,637        889,414  

Nordic Waterproofing Holding AB

     38,476        604,066  

Peab AB, Class B

     666,354        3,331,915  

Platzer Fastigheter Holding AB, Class B

     129,760        1,006,090  

Ratos AB, Class B(a)

     270,843        825,885  

Resurs Holding AB(b)

     658,514        1,466,956  

Sagax AB, Class D(a)

     402,819        1,017,774  

Samhallsbyggnadsbolaget i Norden AB, Class D(a)

     730,894        1,134,803  

Sectra AB, Class B*(a)

     40,026        625,853  

Skandinaviska Enskilda Banken AB, Class C*(a)

     14,045        179,870  

SkiStar AB(a)

     39,179        470,773  

SSAB AB, Class A

     1,249,059        9,207,542  

Svenska Handelsbanken AB, Class B(a)

     24,406        261,723  

Synsam AB(a)

     126,723        495,427  

Troax Group AB

     39,896        829,119  

Wihlborgs Fastigheter AB

     397,806        3,044,096  
     

 

 

 
Total Sweden               73,485,448  
Switzerland – 1.4%      

Arbonia AG

     53,480        639,266  

Comet Holding AG, Registered Shares

     6,072        1,681,589  

Huber + Suhner AG, Registered Shares

     21,869        1,874,383  

Landis & Gyr Group AG*

     31,016        2,378,273  

Medmix AG(b)

     36,894        770,552  

Mobilezone Holding AG, Registered Shares

     112,295        1,833,990  

Sulzer AG, Registered Shares(a)

     53,359        4,523,731  

Swissquote Group Holding SA, Registered Shares

     9,837      1,919,914  

u-blox Holding AG*

     3,964        554,539  

Zehnder Group AG

     9,477        772,849  
     

 

 

 
Total Switzerland               16,949,086  
United Kingdom – 14.1%      

AG Barr PLC

     109,446        682,036  

AJ Bell PLC

     290,593        1,240,316  

Alliance Pharma PLC(a)

     433,913        370,193  

Ashmore Group PLC

     1,778,456        5,246,747  

Assura PLC

     6,961,227        4,205,483  

Bloomsbury Publishing PLC

     142,637        786,581  

Bodycote PLC

     236,815        1,910,585  

Bridgepoint Group PLC(b)(c)

     709,107        1,935,920  

Bytes Technology Group PLC

     151,995        729,937  

Central Asia Metals PLC

     710,041        2,076,305  

Chemring Group PLC

     206,838        710,971  

Chesnara PLC

     308,697        1,145,065  

Clarkson PLC

     32,061        1,224,932  

Close Brothers Group PLC

     284,871        3,173,581  

CLS Holdings PLC

     740,571        1,230,673  

CMC Markets PLC(a)(b)

     423,816        921,240  

Coats Group PLC

     1,446,453        1,318,100  

Concentric AB

     28,278        578,129  

Craneware PLC(a)

     19,386        275,653  

Cranswick PLC

     60,607        2,251,123  

Crest Nicholson Holdings PLC

     583,049        1,574,470  

Currys PLC

     1,784,430        1,296,236  

Devro PLC

     403,932        1,638,169  

DFS Furniture PLC(a)

     540,225        909,763  

DiscoverIE Group PLC

     54,224        516,919  

Diversified Energy Co. PLC

     3,078,901        3,601,334  

Domino’s Pizza Group PLC

     569,524        2,018,203  

Dunelm Group PLC(a)

     291,004        3,975,922  

EMIS Group PLC

     39,721        736,696  

Empiric Student Property PLC

     1,314,552        1,467,716  

Essentra PLC

     259,911        621,524  

FDM Group Holdings PLC

     173,779        1,557,801  

Fevertree Drinks PLC

     63,664        1,010,731  

Firstgroup PLC

     434,263        557,885  

Forterra PLC(b)

     588,289        1,444,596  

FRP Advisory Group PLC

     234,474        313,109  

Galliford Try Holdings PLC

     231,096        492,613  

Gamma Communications PLC

     38,835        518,589  

Genuit Group PLC

     326,801        1,127,364  

Genus PLC

     24,627        875,135  

Grainger PLC

     487,601        1,404,744  

Great Portland Estates PLC

     191,076        1,197,818  

Greggs PLC

     90,773        3,113,434  

Halfords Group PLC

     352,349        761,537  

Hammerson PLC(a)

     3,266,085        1,053,606  

Headlam Group PLC

     161,094        605,521  

Henry Boot PLC(a)

     98,138        270,594  

Hill & Smith PLC

     73,727        1,223,364  

 

See Notes to Financial Statements.

 

74   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Hilton Food Group PLC

     122,976      $ 1,052,211  

Hunting PLC

     182,447        532,384  

I3 Energy PLC(a)

     2,340,321        530,124  

Ibstock PLC(b)

     1,035,783        2,209,197  

Impax Asset Management Group PLC

     146,918        1,449,621  

IntegraFin Holdings PLC

     460,937        1,550,198  

Jadestone Energy PLC

     749,187        629,906  

James Halstead PLC(a)

     279,793        633,089  

Kainos Group PLC

     75,054        1,282,503  

Keller Group PLC

     109,728        921,221  

Learning Technologies Group PLC

     385,999        615,676  

Liontrust Asset Management PLC

     197,108        2,490,759  

Londonmetric Property PLC

     2,143,761        4,654,547  

Lookers PLC

     700,578        712,907  

ME Group International PLC

     1,004,717        1,559,064  

Mitie Group PLC

     1,138,670        1,151,669  

Moneysupermarket.com Group PLC

     1,040,120        3,202,281  

Morgan Advanced Materials PLC

     362,390        1,268,058  

Morgan Sindall Group PLC

     85,243        1,781,238  

Mortgage Advice Bureau Holdings Ltd.

     78,133        716,828  

NCC Group PLC

     241,611        305,312  

Next Fifteen Communications Group PLC

     56,120        581,485  

Ninety One PLC(a)

     1,378,722        3,157,143  

Oxford Instruments PLC

     22,855        707,890  

Pagegroup PLC

     976,774        5,512,090  

Pan African Resources PLC(a)

     4,220,498        865,217  

PayPoint PLC

     189,204        1,064,433  

Pets at Home Group PLC

     631,136        2,879,558  

Premier Foods PLC

     290,326        437,948  

Primary Health Properties PLC(a)

     2,127,217        2,661,760  

PZ Cussons PLC

     438,857        1,004,941  

Quilter PLC(b)

     2,463,341        2,566,390  

Redde Northgate PLC

     488,663        2,087,537  

Redrow PLC

     779,289        4,588,434  

RWS Holdings PLC

     470,778        1,740,460  

Safestore Holdings PLC

     277,733        3,262,328  

Savills PLC

     160,771        1,970,956  

Serica Energy PLC

     654,770        1,793,243  

Shaftesbury Capital PLC(a)

     577,165        818,540  

Smart Metering Systems PLC

     178,623        1,638,769  

Speedy Hire PLC

     1,367,312        568,891  

Spirent Communications PLC

     435,547        933,276  

SThree PLC

     150,336        774,203  

TBC Bank Group PLC

     113,059        3,131,336  

Telecom Plus PLC

     98,383        2,299,103  

TORM PLC, Class A

     84,248        2,590,148  

TP ICAP Group PLC

     1,219,548        2,715,746  

Travis Perkins PLC

     287,734        3,402,572  

TT Electronics PLC

     302,293        699,698  

Tyman PLC

     393,663        1,170,621  

Vesuvius PLC

     520,611        2,663,670  

Victrex PLC

     83,242        1,639,589  

VIDENDUM PLC

     66,334        725,865  

Virgin Money UK PLC

     1,250,029        2,255,801  

Volution Group PLC

     127,296      677,586  

Watkin Jones PLC

     747,053        820,240  

Wickes Group PLC

     772,040        1,319,242  

Wincanton PLC

     219,248        585,553  

Workspace Group PLC

     322,761        1,743,172  

XPS Pensions Group PLC

     413,555        818,144  
     

 

 

 
Total United Kingdom               168,021,334  
TOTAL COMMON STOCKS
(Cost: $1,158,086,095)
              1,176,197,196  
RIGHTS – 0.0%      
Australia – 0.0%      
Kelsian Group Ltd., expiring 4/5/23*
(Cost: $0)
     30,684        6,165  
EXCHANGE-TRADED FUNDS – 0.3%

 

United States – 0.3%      

WisdomTree Europe SmallCap Dividend Fund(d)

     33,746        1,967,678  

WisdomTree Japan SmallCap Dividend Fund(d)

     24,171        1,615,590  
TOTAL EXCHANGE-TRADED FUNDS
(Cost: $3,107,270)
              3,583,268  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 10.5%

 

United States – 10.5%      

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(e)

 

  
(Cost: $125,225,751)      125,225,751        125,225,751  
TOTAL INVESTMENTS IN SECURITIES – 109.3%

 

  
(Cost: $1,286,419,116)         1,305,012,380  

Other Assets less Liabilities – (9.3)%

        (111,219,745
     

 

 

 
NET ASSETS – 100.0%             $ 1,193,792,635  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $199,039,176 and the total market value of the collateral held by the Fund was $210,806,832. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $85,581,081.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

This security is exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. This security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

 

(d) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

WisdomTree Trust      75  


Schedule of Investments (concluded)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree Europe SmallCap Dividend Fund

  $ 4,449,907     $ 14,067,561     $ 15,129,879     $ (1,759,131   $ 339,220     $ 1,967,678     $ 289,320  

WisdomTree Japan SmallCap Dividend Fund

    3,408,074       11,631,073       13,097,406       (690,829     364,678       1,615,590       154,711  

Total

  $ 7,857,981     $ 25,698,634     $ 28,227,285     $ (2,449,960   $ 703,898     $ 3,583,268     $ 444,031  

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Deutsche Bank AG

    4/3/2023       2,121,439       NOK       27,000,000       JPY     $     $ (309

HSBC Holdings PLC

    4/3/2023       1,293,876       NOK       100,000       GBP             (102

HSBC Holdings PLC

    4/3/2023       599,944       NOK       449,585       HKD       12        

Royal Bank of Canada

    4/3/2023       368,753       USD       550,000       AUD       390        
                                            $ 402     $ (411

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

 

Japan

   $ 326,615,122      $ 920,666      $      $ 327,535,788  

Other

     848,661,408                      848,661,408  

Rights

            6,165               6,165  

Exchange-Traded Funds

     3,583,268                      3,583,268  

Investment of Cash Collateral for Securities Loaned

            125,225,751               125,225,751  

Total Investments in Securities

   $ 1,178,859,798      $ 126,152,582      $      $ 1,305,012,380  

Financial Derivative Instruments

        

Foreign Currency Contracts1

   $      $ 402      $      $ 402  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (411    $      $ (411

Total – Net

   $ 1,178,859,798      $ 126,152,573      $      $ 1,305,012,371  

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

76   WisdomTree Trust


Schedule of Investments

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.2%

 

Japan – 98.2%

 

Air Freight & Logistics – 1.2%

 

AIT Corp.

     11,000      $ 133,564  

AZ-COM MARUWA Holdings, Inc.(a)

     14,300        213,818  

Hamakyorex Co. Ltd.

     5,800        140,544  

Konoike Transport Co. Ltd.

     13,100        146,562  

Mitsui-Soko Holdings Co. Ltd.

     14,000        412,878  

Sankyu, Inc.

     11,500        423,830  

SBS Holdings, Inc.

     6,100        154,001  

Senko Group Holdings Co. Ltd.

     59,056        419,324  

Shibusawa Warehouse Co. Ltd.(a)

     9,000        150,259  

Trancom Co. Ltd.(a)

     1,300        72,282  
     

 

 

 
Total Air Freight & Logistics

 

     2,267,062  
Automobile Components – 4.7%

 

Aisan Industry Co. Ltd.

     21,600        145,904  

Daido Metal Co. Ltd.(a)

     32,400        124,400  

Daikyonishikawa Corp.(a)

     26,800        129,882  

Eagle Industry Co. Ltd.

     29,800        266,004  

Exedy Corp.

     33,125        451,241  

Fujikura Composites, Inc.(a)

     12,000        98,820  

FuKoKu Co. Ltd.

     14,200        109,682  

Futaba Industrial Co. Ltd.

     30,800        98,586  

G-Tekt Corp.(a)

     15,500        166,774  

H-One Co. Ltd.

     100        474  

KYB Corp.

     12,600        380,585  

Musashi Seimitsu Industry Co. Ltd.(a)

     18,200        255,312  

NHK Spring Co. Ltd.

     113,800        809,742  

Nihon Tokushu Toryo Co. Ltd.(a)

     15,100        106,877  

NOK Corp.(a)

     66,300        728,807  

Pacific Industrial Co. Ltd.

     18,300        158,676  

Piolax, Inc.(a)

     14,400        208,821  

Press Kogyo Co. Ltd.

     72,300        270,534  

Riken Corp.

     9,600        187,037  

Seiren Co. Ltd.(a)

     9,711        170,156  

Shoei Co. Ltd.

     13,200        275,128  

Sumitomo Riko Co. Ltd.

     21,300        110,269  

Sumitomo Rubber Industries Ltd.

     79,700        716,216  

Suncall Corp.(a)

     15,400        68,617  

T RAD Co. Ltd.*(a)

     5,000        88,136  

Tachi-S Co. Ltd.(a)

     19,500        175,821  

Tokai Rika Co. Ltd.(a)

     33,158        405,350  

Topre Corp.(a)

     6,000        55,316  

Toyo Tire Corp.(a)

     65,100        755,726  

Toyoda Gosei Co. Ltd.(a)

     26,900        460,831  

TPR Co. Ltd.

     13,100        131,797  

TS Tech Co. Ltd.

     43,700        551,298  
     

 

 

 
Total Automobile Components

 

     8,662,819  
Automobiles – 0.1%

 

Nissan Shatai Co. Ltd.(a)

     20,100        127,768  
Banks – 7.7%

 

77 Bank Ltd.(a)

     40,900        664,406  

Akita Bank Ltd.

     10,700        141,820  

Aozora Bank Ltd.(a)

     59,400      1,070,709  

Awa Bank Ltd.(a)

     8,275        121,243  

Bank of Iwate Ltd.

     11,400        181,934  

Bank of Nagoya Ltd.

     9,769        231,582  

Bank of Saga Ltd.(a)

     12,800        155,804  

Bank of the Ryukyus Ltd.(a)

     24,408        169,823  

Daishi Hokuetsu Financial Group, Inc.

     17,555        381,200  

Ehime Bank Ltd.(a)

     16,799        106,280  

FIDEA Holdings Co. Ltd.

     16,180        162,055  

First Bank of Toyama Ltd.(a)

     33,400        147,814  

Fukui Bank Ltd.

     48        537  

Gunma Bank Ltd.

     119,100        396,433  

Hachijuni Bank Ltd.

     162,800        703,359  

Hirogin Holdings, Inc.(a)

     108,900        512,220  

Hokkoku Financial Holdings, Inc.(a)

     4,462        138,631  

Hokuhoku Financial Group, Inc.(a)

     31,800        221,016  

Hyakugo Bank Ltd.(a)

     75,800        211,299  

Hyakujushi Bank Ltd.

     15,500        213,942  

Juroku Financial Group, Inc.

     14,900        316,159  

Keiyo Bank Ltd.(a)

     48,742        207,288  

Kiyo Bank Ltd.(a)

     17,190        191,675  

Kyushu Financial Group, Inc.(a)

     124,000        444,421  

Mebuki Financial Group, Inc.

     327,300        796,793  

Miyazaki Bank Ltd.

     6,100        107,251  

Musashino Bank Ltd.(a)

     13,200        220,380  

Nanto Bank Ltd.(a)

     10,500        183,350  

Nishi-Nippon Financial Holdings, Inc.

     61,500        502,758  

North Pacific Bank Ltd.

     114,915        240,036  

Ogaki Kyoritsu Bank Ltd.(a)

     11,242        150,862  

Oita Bank Ltd.(a)

     7,300        112,223  

Okinawa Financial Group, Inc.

     4,780        74,776  

Procrea Holdings, Inc.(a)

     5,462        86,389  

San ju San Financial Group, Inc.

     17,700        209,995  

San-In Godo Bank Ltd.

     102,200        567,479  

Senshu Ikeda Holdings, Inc.

     185,540        323,430  

Seven Bank Ltd.(a)

     582,500        1,159,835  

Shiga Bank Ltd.(a)

     25,684        516,999  

Shikoku Bank Ltd.(a)

     23,300        152,486  

Suruga Bank Ltd.

     30,300        105,637  

Toho Bank Ltd.(a)

     114,600        186,853  

Tokyo Kiraboshi Financial Group, Inc.(a)

     16,300        321,493  

TOMONY Holdings, Inc.(a)

     43,477        115,316  

Towa Bank Ltd.(a)

     27,400        111,996  

Yamagata Bank Ltd.(a)

     14,600        111,126  

Yamaguchi Financial Group, Inc.(a)

     63,500        387,422  

Yamanashi Chuo Bank Ltd.(a)

     16,700        143,297  
     

 

 

 
Total Banks

 

     13,979,832  
Beverages – 0.8%

 

Coca-Cola Bottlers Japan Holdings, Inc.

     65,900        715,497  

Sapporo Holdings Ltd.

     7,698        196,947  

Takara Holdings, Inc.(a)

     59,911        460,058  
     

 

 

 
Total Beverages

 

     1,372,502  

 

See Notes to Financial Statements.

 

WisdomTree Trust      77  


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
Biotechnology – 0.1%

 

Takara Bio, Inc.

     20,500      $ 266,936  
Broadline Retail – 1.1%

 

ASKUL Corp.

     16,030        207,526  

Belluna Co. Ltd.(a)

     18,284        96,441  

Izumi Co. Ltd.

     16,200        382,816  

J. Front Retailing Co. Ltd.

     57,200        568,175  

Mr. Max Holdings Ltd.

     100        510  

Seria Co. Ltd.

     18,800        370,378  

Takashimaya Co. Ltd.(a)

     20,300        294,837  
     

 

 

 
Total Broadline Retail

 

     1,920,683  
Building Products – 1.6%

 

Bunka Shutter Co. Ltd.(a)

     21,700        180,331  

Central Glass Co. Ltd.

     9,986        220,369  

Nichias Corp.

     29,513        590,083  

Nichiha Corp.

     10,900        221,047  

Nitto Boseki Co. Ltd.(a)

     6,500        98,411  

Noritz Corp.

     9,700        126,598  

Okabe Co. Ltd.

     22,600        130,414  

Sanwa Holdings Corp.

     59,300        630,917  

Shin Nippon Air Technologies Co. Ltd.(a)

     6,900        96,690  

Sinko Industries Ltd.(a)

     8,400        104,392  

Takara Standard Co. Ltd.

     23,631        260,830  

Takasago Thermal Engineering Co. Ltd.

     16,072        254,684  
     

 

 

 
Total Building Products

 

     2,914,766  
Capital Markets – 1.2%

 

Ichiyoshi Securities Co. Ltd.(a)

     29,188        132,683  

IwaiCosmo Holdings, Inc.(a)

     19,400        195,326  

Marusan Securities Co. Ltd.(a)

     28,300        90,796  

Matsui Securities Co. Ltd.(a)

     115,400        678,925  

Monex Group, Inc.(a)

     73,594        263,764  

Okasan Securities Group, Inc.(a)

     43,300        153,237  

SBI Global Asset Management Co. Ltd.

     42,244        152,674  

Sparx Group Co. Ltd.(a)

     16,900        183,870  

Tokai Tokyo Financial Holdings, Inc.(a)

     100,700        276,927  
     

 

 

 
Total Capital Markets

 

     2,128,202  
Chemicals – 9.9%

 

ADEKA Corp.(a)

     30,725        521,279  

Aica Kogyo Co. Ltd.(a)

     20,415        465,546  

Asahi Yukizai Corp.(a)

     6,700        159,332  

C. Uyemura & Co. Ltd.(a)

     6,600        321,346  

Chugoku Marine Paints Ltd.

     18,600        153,032  

CI Takiron Corp.(a)

     24,400        90,384  

Daicel Corp.

     99,700        749,117  

Dainichiseika Color & Chemicals Manufacturing Co. Ltd.

     7,642        102,380  

Denka Co. Ltd.

     33,500        688,425  

DIC Corp.

     31,600        565,091  

DKS Co. Ltd.(a)

     5,500        77,898  

Fujimi, Inc.(a)

     11,100        608,836  

Fujimori Kogyo Co. Ltd.

     5,100        122,049  

Fuso Chemical Co. Ltd.(a)

     5,900        166,906  

Harima Chemicals Group, Inc.(a)

     13,900      91,594  

Ishihara Sangyo Kaisha Ltd.

     18,600        155,827  

JCU Corp.

     5,400        139,778  

JSP Corp.

     10,023        116,806  

Kaneka Corp.

     17,600        456,233  

Kanto Denka Kogyo Co. Ltd.

     12,500        96,833  

KeePer Technical Laboratory Co. Ltd.

     2,100        77,711  

KH Neochem Co. Ltd.

     15,000        270,268  

Konishi Co. Ltd.(a)

     11,400        164,032  

Kumiai Chemical Industry Co. Ltd.

     30,724        196,224  

Kureha Corp.(a)

     4,764        302,471  

Lintec Corp.

     40,665        661,505  

MEC Co. Ltd.(a)

     3,300        63,501  

Moriroku Holdings Co. Ltd.(a)

     9,500        131,411  

Nihon Nohyaku Co. Ltd.(a)

     19,600        99,259  

Nihon Parkerizing Co. Ltd.

     50,800        378,643  

Nippon Chemical Industrial Co. Ltd.

     5,800        86,331  

Nippon Kayaku Co. Ltd.

     81,300        731,205  

Nippon Pillar Packing Co. Ltd.(a)

     14,700        414,193  

Nippon Shokubai Co. Ltd.

     17,900        710,136  

Nippon Soda Co. Ltd.

     16,518        572,775  

Osaka Organic Chemical Industry Ltd.

     5,600        90,718  

Osaka Soda Co. Ltd.(a)

     7,800        255,233  

Riken Technos Corp.

     23,000        101,788  

Sakai Chemical Industry Co. Ltd.(a)

     10,300        136,983  

Sakata INX Corp.

     12,500        97,209  

Sanyo Chemical Industries Ltd.

     7,435        238,541  

Shikoku Kasei Holdings Corp.(a)

     10,300        108,580  

Shin-Etsu Polymer Co. Ltd.

     25,900        290,156  

Sumitomo Bakelite Co. Ltd.

     12,718        493,086  

T Hasegawa Co. Ltd.(a)

     10,500        234,394  

Taiyo Holdings Co. Ltd.(a)

     21,282        399,767  

Takasago International Corp.(a)

     6,900        135,677  

Tayca Corp.

     100        882  

Teijin Ltd.

     63,400        665,012  

Toagosei Co. Ltd.

     51,000        472,102  

Tokai Carbon Co. Ltd.

     60,100        568,983  

Tokuyama Corp.

     17,900        283,113  

Tokyo Ohka Kogyo Co. Ltd.

     14,700        849,373  

Toyo Ink SC Holdings Co. Ltd.

     23,302        359,974  

Toyobo Co. Ltd.(a)

     22,353        174,504  

UBE Corp.

     41,793        645,312  

Valqua Ltd.

     12,637        327,105  

Zeon Corp.(a)

     49,100        516,124  
     

 

 

 
Total Chemicals

 

     18,152,973  
Commercial Services & Supplies – 1.5%

 

Aeon Delight Co. Ltd.

     9,400        214,712  

Daiseki Co. Ltd.

     5,288        166,678  

Inui Global Logistics Co. Ltd.(a)

     28,800        387,996  

Japan Elevator Service Holdings Co. Ltd.(a)

     6,100        98,451  

Kokuyo Co. Ltd.

     28,800        406,389  

Matsuda Sangyo Co. Ltd.(a)

     4,700        80,199  

Mitsubishi Pencil Co. Ltd.

     10,900        133,168  

Nippon Kanzai Co. Ltd.*(a)

     10,600        214,485  

 

See Notes to Financial Statements.

 

78   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nippon Parking Development Co. Ltd.

     80,600      $ 141,106  

Okamura Corp.(a)

     22,576        231,375  

Pilot Corp.

     6,400        206,777  

Prestige International, Inc.

     15,800        70,755  

Sato Holdings Corp.(a)

     10,638        174,969  

Studio Alice Co. Ltd.(a)

     6,300        101,442  

TRE Holdings Corp.(a)

     9,500        102,074  
     

 

 

 
Total Commercial Services & Supplies

 

     2,730,576  
Construction & Engineering – 5.4%

 

Asanuma Corp.

     11,700        273,841  

CTI Engineering Co. Ltd.

     3,500        79,420  

Dai-Dan Co. Ltd.(a)

     5,400        96,120  

Daiho Corp.(a)

     12,000        331,805  

EXEO Group, Inc.

     40,700        733,022  

Fudo Tetra Corp.

     11,900        145,833  

Hazama Ando Corp.(a)

     59,300        381,402  

INFRONEER Holdings, Inc.

     78,573        603,363  

JDC Corp.

     23,600        107,103  

Kandenko Co. Ltd.

     35,238        247,558  

Kumagai Gumi Co. Ltd.

     10,800        215,773  

Kyudenko Corp.

     14,990        379,002  

MIRAIT ONE Corp.

     28,200        349,401  

Nippon Koei Co. Ltd.

     6,600        167,120  

Nippon Road Co. Ltd.

     2,100        115,185  

Nishimatsu Construction Co. Ltd.(a)

     28,807        741,333  

Nittoc Construction Co. Ltd.

     25,800        188,426  

Okumura Corp.(a)

     14,170        333,249  

Oriental Shiraishi Corp.

     70,000        171,463  

Penta-Ocean Construction Co. Ltd.

     61,893        293,909  

PS Mitsubishi Construction Co. Ltd.(a)

     26,400        129,729  

Raito Kogyo Co. Ltd.

     17,100        250,673  

Raiznext Corp.

     15,500        169,453  

Sanki Engineering Co. Ltd.(a)

     35,500        390,503  

Shinnihon Corp.(a)

     26,100        183,557  

Sumitomo Mitsui Construction Co. Ltd.(a)

     46,960        135,492  

Taihei Dengyo Kaisha Ltd.(a)

     6,900        210,230  

Taikisha Ltd.(a)

     9,565        264,477  

Takamatsu Construction Group Co. Ltd.(a)

     5,900        89,947  

Tekken Corp.

     10,500        142,719  

Tess Holdings Co. Ltd.

     6,300        51,265  

Toa Corp.(a)

     5,700        113,666  

Tobishima Corp.

     17,100        135,423  

Toda Corp.

     85,149        442,091  

Tokyo Energy & Systems, Inc.

     12,200        81,767  

Tokyu Construction Co. Ltd.

     19,700        99,914  

Totetsu Kogyo Co. Ltd.(a)

     10,779        219,403  

Toyo Construction Co. Ltd.

     22,900        157,611  

Wakachiku Construction Co. Ltd.(a)

     5,200        149,252  

Yokogawa Bridge Holdings Corp.

     14,900        242,269  

Yondenko Corp.(a)

     7,200        102,247  

Yurtec Corp.

     15,100        94,056  
     

 

 

 
Total Construction & Engineering

 

     9,810,072  
Construction Materials – 0.6%

 

Sumitomo Osaka Cement Co. Ltd.(a)

     10,740      301,001  

Taiheiyo Cement Corp.

     33,800        631,607  

Yotai Refractories Co. Ltd.

     10,600        120,902  
     

 

 

 
Total Construction Materials

 

     1,053,510  
Consumer Finance – 0.0%

 

J Trust Co. Ltd.(a)

     16,900        50,158  
Consumer Staples Distribution & Retail – 1.9%

 

Aeon Hokkaido Corp.(a)

     12,600        76,117  

Ain Holdings, Inc.

     2,500        104,253  

Arcs Co. Ltd.(a)

     22,294        376,061  

Belc Co. Ltd.

     2,400        100,984  

Create SD Holdings Co. Ltd.

     9,500        239,838  

Fuji Co. Ltd.(a)

     10,800        140,224  

G-7 Holdings, Inc.(a)

     10,200        110,821  

H2O Retailing Corp.(a)

     23,000        257,322  

Heiwado Co. Ltd.

     7,263        111,054  

Kato Sangyo Co. Ltd.

     12,116        319,537  

Life Corp.

     12,400        240,472  

Mitsubishi Shokuhin Co. Ltd.

     16,100        393,155  

Qol Holdings Co. Ltd.(a)

     12,500        109,043  

San-A Co. Ltd.(a)

     3,400        104,230  

United Super Markets Holdings, Inc.

     22,100        184,983  

Valor Holdings Co. Ltd.

     16,891        244,436  

Yaoko Co. Ltd.(a)

     4,500        233,301  

Yokorei Co. Ltd.(a)

     11,800        85,027  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     3,430,858  
Containers & Packaging – 0.5%

 

FP Corp.(a)

     9,500        234,127  

Fuji Seal International, Inc.

     9,810        111,301  

Pack Corp.

     5,300        117,676  

Rengo Co. Ltd.(a)

     62,600        404,038  

Tomoku Co. Ltd.(a)

     10,100        121,346  
     

 

 

 
Total Containers & Packaging

 

     988,488  
Distributors – 0.4%

 

Arata Corp.

     4,000        121,872  

Doshisha Co. Ltd.

     4,800        69,896  

Happinet Corp.(a)

     9,500        132,910  

PALTAC Corp.(a)

     10,400        392,276  

Yamae Group Holdings Co. Ltd.

     100        1,361  
     

 

 

 
Total Distributors

 

     718,315  
Diversified Consumer Services – 0.4%

 

Asante, Inc.

     100        1,240  

Aucnet, Inc.(a)

     7,200        86,504  

Benesse Holdings, Inc.

     20,900        304,651  

Riso Kyoiku Co. Ltd.

     74,300        183,670  

Tokyo Individualized Educational Institute, Inc.

     29,500        119,029  
     

 

 

 
Total Diversified Consumer Services

 

     695,094  
Diversified Telecommunication Services – 0.1%

 

ARTERIA Networks Corp.

     18,300        175,314  

Usen-Next Holdings Co. Ltd.

     4,000        76,970  
     

 

 

 
Total Diversified Telecommunication Services

 

     252,284  

 

See Notes to Financial Statements.

 

WisdomTree Trust      79  


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
Electrical Equipment – 1.5%

 

Daihen Corp.

     6,500      $ 216,602  

Fujikura Ltd.

     36,700        258,657  

Furukawa Electric Co. Ltd.(a)

     14,800        273,670  

GS Yuasa Corp.(a)

     12,200        218,352  

Idec Corp.

     10,536        271,930  

Mabuchi Motor Co. Ltd.

     15,700        454,756  

Nippon Carbon Co. Ltd.

     5,400        166,354  

Nitto Kogyo Corp.(a)

     13,100        260,051  

Sanyo Denki Co. Ltd.

     1,800        83,177  

Sinfonia Technology Co. Ltd.(a)

     12,700        150,388  

SWCC Showa Holdings Co. Ltd.(a)

     6,600        93,974  

Takaoka Toko Co. Ltd.(a)

     7,000        123,653  

Toyo Tanso Co. Ltd.

     4,800        148,050  
     

 

 

 
Total Electrical Equipment

 

     2,719,614  
Electronic Equipment, Instruments & Components – 7.1%

 

Ai Holdings Corp.

     20,100        346,000  

Alps Alpine Co. Ltd.(a)

     49,200        469,117  

Amano Corp.

     19,435        364,342  

Anritsu Corp.

     26,400        242,200  

Canon Electronics, Inc.

     8,800        122,125  

Citizen Watch Co. Ltd.(a)

     136,100        795,595  

Daishinku Corp.(a)

     13,900        75,928  

Daitron Co. Ltd.

     7,900        158,309  

Daiwabo Holdings Co. Ltd.

     26,895        441,143  

Dexerials Corp.(a)

     15,600        315,071  

Elematec Corp.

     24,154        336,294  

ESPEC Corp.

     6,400        97,859  

Hakuto Co. Ltd.(a)

     14,834        547,818  

Hioki EE Corp.(a)

     3,000        194,755  

Hochiki Corp.

     8,900        103,518  

Horiba Ltd.

     12,100        719,145  

I-PEX, Inc.

     8,800        93,098  

Innotech Corp.

     14,600        151,715  

Iriso Electronics Co. Ltd.

     3,400        125,434  

Japan Aviation Electronics Industry Ltd.(a)

     22,900        395,403  

Kaga Electronics Co. Ltd.

     12,800        481,839  

Koa Corp.(a)

     10,000        138,403  

Kyosan Electric Manufacturing Co. Ltd.(a)

     34,100        108,893  

Macnica Holdings, Inc.

     22,300        630,010  

Marubun Corp.(a)

     14,700        150,877  

Maruwa Co. Ltd.(a)

     700        96,566  

Maxell Ltd.(a)

     13,800        159,578  

Meiko Electronics Co. Ltd.(a)

     4,500        98,798  

Nichicon Corp.

     20,700        214,637  

Nippon Ceramic Co. Ltd.

     9,200        186,917  

Nippon Electric Glass Co. Ltd.

     58,300        1,116,588  

Nippon Signal Co. Ltd.(a)

     14,800        118,098  

Nissha Co. Ltd.

     8,500        118,728  

Nohmi Bosai Ltd.(a)

     12,391        157,436  

Oki Electric Industry Co. Ltd.

     31,100        167,780  

Optex Group Co. Ltd.

     7,400        115,429  

Osaki Electric Co. Ltd.(a)

     30,800        123,117  

Restar Holdings Corp.(a)

     12,100        196,742  

Riken Keiki Co. Ltd.

     4,900      209,122  

Ryoden Corp.(a)

     13,861        194,756  

Ryosan Co. Ltd.(a)

     11,000        271,095  

Sanshin Electronics Co. Ltd.(a)

     8,700        157,409  

Satori Electric Co. Ltd.

     12,900        166,714  

Shibaura Electronics Co. Ltd.

     2,300        101,615  

Siix Corp.

     12,100        128,191  

Sumida Corp.

     1,000        12,495  

Suzuden Corp.

     7,600        149,442  

Tachibana Eletech Co. Ltd.

     10,300        153,931  

Tokyo Electron Device Ltd.(a)

     3,100        204,275  

Tomen Devices Corp.(a)

     3,400        167,586  

Topcon Corp.

     26,700        357,498  

Tsuzuki Denki Co. Ltd.(a)

     11,300        132,706  

Yokowo Co. Ltd.(a)

     4,800        75,378  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     12,957,518  
Energy Equipment & Services – 0.1%

 

Toyo Kanetsu KK(a)

     5,500        108,355  
Entertainment – 0.9%

 

Amuse, Inc.

     7,800        104,203  

COLOPL, Inc.(a)

     33,900        152,320  

Daiichikosho Co. Ltd.(a)

     25,600        420,095  

GungHo Online Entertainment, Inc.

     10,400        189,261  

Marvelous, Inc.

     23,500        116,538  

MIXI, Inc.

     30,700        614,046  
     

 

 

 
Total Entertainment

 

     1,596,463  
Financial Services – 0.3%

 

eGuarantee, Inc.

     5,200        84,980  

Financial Partners Group Co. Ltd.(a)

     46,000        399,204  

Japan Investment Adviser Co. Ltd.

     10,700        85,140  
     

 

 

 
Total Financial Services

 

     569,324  
Food Products – 3.6%

 

Ariake Japan Co. Ltd.(a)

     5,028        184,361  

Chubu Shiryo Co. Ltd.(a)

     13,000        101,976  

DyDo Group Holdings, Inc.(a)

     2,400        87,820  

Ezaki Glico Co. Ltd.

     11,400        285,664  

Fuji Oil Holdings, Inc.(a)

     15,800        228,292  

Fujicco Co. Ltd.(a)

     9,600        133,732  

Fujiya Co. Ltd.

     5,200        96,467  

Hokuto Corp.(a)

     6,391        89,077  

House Foods Group, Inc.

     14,900        314,592  

Itoham Yonekyu Holdings, Inc.(a)

     64,900        341,348  

J-Oil Mills, Inc.(a)

     10,500        119,998  

Kagome Co. Ltd.

     10,000        232,174  

Kotobuki Spirits Co. Ltd.

     1,500        105,605  

Kyokuyo Co. Ltd.(a)

     4,300        110,658  

Marudai Food Co. Ltd.(a)

     9,000        98,324  

Maruha Nichiro Corp.

     15,732        280,738  

Megmilk Snow Brand Co. Ltd.

     21,700        287,453  

Mitsui DM Sugar Holdings Co. Ltd.(a)

     10,398        158,990  

Morinaga & Co. Ltd.

     15,987        451,057  

Morinaga Milk Industry Co. Ltd.(a)

     7,900        283,139  

 

See Notes to Financial Statements.

 

80   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nichirei Corp.(a)

     25,700      $ 518,287  

Nippn Corp.

     27,383        341,542  

Nisshin Oillio Group Ltd.

     9,200        224,660  

Nissui Corp.

     79,600        324,764  

Prima Meat Packers Ltd.

     15,200        251,373  

Riken Vitamin Co. Ltd.(a)

     11,600        167,607  

S Foods, Inc.

     11,300        241,894  

Sakata Seed Corp.

     5,600        164,520  

Showa Sangyo Co. Ltd.(a)

     8,700        165,842  

Starzen Co. Ltd.

     100        1,635  

Warabeya Nichiyo Holdings Co. Ltd.

     6,500        88,399  

Yukiguni Maitake Co. Ltd.

     15,100        113,684  
     

 

 

 
Total Food Products

 

     6,595,672  
Gas Utilities – 0.7%

 

Hokkaido Gas Co. Ltd.

     7,900        115,333  

Nippon Gas Co. Ltd.

     39,000        563,799  

Saibu Gas Holdings Co. Ltd.

     14,200        185,115  

Shizuoka Gas Co. Ltd.(a)

     11,192        96,624  

Toho Gas Co. Ltd.

     18,200        336,814  
     

 

 

 
Total Gas Utilities

 

     1,297,685  
Ground Transportation – 1.0%

 

Alps Logistics Co. Ltd.(a)

     10,200        100,168  

Fukuyama Transporting Co. Ltd.

     7,711        207,998  

Ichinen Holdings Co. Ltd.

     12,000        114,058  

Maruzen Showa Unyu Co. Ltd.

     5,100        123,390  

Nikkon Holdings Co. Ltd.(a)

     17,460        324,694  

Nishi-Nippon Railroad Co. Ltd.(a)

     10,700        192,309  

Sakai Moving Service Co. Ltd.

     4,600        160,027  

Seino Holdings Co. Ltd.

     34,900        382,854  

Sotetsu Holdings, Inc.(a)

     9,900        168,707  
     

 

 

 
Total Ground Transportation

 

     1,774,205  
Health Care Equipment & Supplies – 1.7%

 

Eiken Chemical Co. Ltd.

     16,270        191,074  

Hogy Medical Co. Ltd.(a)

     8,600        205,162  

Japan Lifeline Co. Ltd.

     18,900        130,080  

Jeol Ltd.

     5,400        172,237  

Mani, Inc.(a)

     12,700        172,336  

Menicon Co. Ltd.(a)

     5,300        111,782  

Mizuho Medy Co. Ltd.

     7,100        124,353  

Nagaileben Co. Ltd.

     11,026        169,006  

Nakanishi, Inc.

     16,200        319,764  

Nihon Kohden Corp.

     12,500        337,178  

Nipro Corp.(a)

     30,900        236,585  

Paramount Bed Holdings Co. Ltd.

     15,442        273,591  

PHC Holdings Corp.(a)

     53,200        572,413  
     

 

 

 
Total Health Care Equipment & Supplies

 

     3,015,561  
Health Care Providers & Services – 1.1%

 

As One Corp.(a)

     5,600        236,051  

BML, Inc.(a)

     11,800        273,522  

France Bed Holdings Co. Ltd.

     13,900        110,498  

H.U. Group Holdings, Inc.

     31,100        622,981  

Ship Healthcare Holdings, Inc.(a)

     11,914        218,156  

Solasto Corp.

     16,700      79,554  

Toho Holdings Co. Ltd.(a)

     10,000        176,572  

Tokai Corp.

     8,800        130,853  

Vital KSK Holdings, Inc.

     21,100        141,734  
     

 

 

 
Total Health Care Providers & Services

 

     1,989,921  
Health Care Technology – 0.0%

 

EM Systems Co. Ltd.(a)

     10,900        69,041  
Hotels, Restaurants & Leisure – 1.8%

 

Arcland Service Holdings Co. Ltd.(a)

     4,800        80,968  

Create Restaurants Holdings, Inc.(a)

     18,000        136,599  

Doutor Nichires Holdings Co. Ltd.

     11,200        159,303  

Food & Life Cos. Ltd.

     9,400        242,963  

Heiwa Corp.

     26,600        525,444  

Hiday Hidaka Corp.

     98        1,581  

Ichibanya Co. Ltd.

     7,336        277,808  

KFC Holdings Japan Ltd.(a)

     5,800        123,286  

KOMEDA Holdings Co. Ltd.

     13,800        243,981  

Kura Sushi, Inc.(a)

     2,100        51,439  

Kyoritsu Maintenance Co. Ltd.(a)

     2,000        80,397  

MOS Food Services, Inc.(a)

     4,100        92,573  

Ohsho Food Service Corp.(a)

     5,500        248,779  

Resorttrust, Inc.

     22,108        350,332  

Round One Corp.(a)

     44,400        170,474  

Saizeriya Co. Ltd.

     3,600        89,128  

St. Marc Holdings Co. Ltd.(a)

     10,900        141,932  

Tokyotokeiba Co. Ltd.

     6,342        192,752  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     3,209,739  
Household Durables – 2.0%

 

Casio Computer Co. Ltd.(a)

     73,600        717,806  

Cleanup Corp.

     29,300        152,125  

ES-Con Japan Ltd.

     38,900        253,994  

Fuji Corp. Ltd.

     22,000        112,240  

Hoosiers Holdings Co. Ltd.

     20,400        126,609  

JVCKenwood Corp.(a)

     43,900        125,674  

Ki-Star Real Estate Co. Ltd.(a)

     8,400        261,612  

Pressance Corp.

     13,588        182,038  

Sanei Architecture Planning Co. Ltd.

     14,900        175,880  

Sangetsu Corp.

     34,200        574,069  

Tama Home Co. Ltd.(a)

     12,800        352,002  

Tamron Co. Ltd.(a)

     9,366        221,324  

Token Corp.

     3,700        220,738  

Zojirushi Corp.(a)

     14,300        171,377  
     

 

 

 
Total Household Durables

 

     3,647,488  
Household Products – 0.4%

 

Earth Corp.

     5,400        192,118  

Pigeon Corp.

     38,100        586,572  
     

 

 

 
Total Household Products

 

     778,690  
Independent Power & Renewable Electricity Producers – 0.1%

 

eRex Co. Ltd.(a)

     4,600        63,285  

West Holdings Corp.(a)

     5,247        127,735  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     191,020  

 

See Notes to Financial Statements.

 

WisdomTree Trust      81  


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
Industrial Conglomerates – 0.5%

 

Mie Kotsu Group Holdings, Inc.(a)

     23,700      $ 99,544  

Nisshinbo Holdings, Inc.

     56,300        428,098  

Noritsu Koki Co. Ltd.

     4,800        80,752  

TOKAI Holdings Corp.(a)

     54,200        355,523  
     

 

 

 
Total Industrial Conglomerates

 

     963,917  
Interactive Media & Services – 0.1%

 

Infocom Corp.(a)

     9,700        170,546  
IT Services – 2.0%

 

Comture Corp.(a)

     5,100        79,437  

Digital Garage, Inc.(a)

     4,600        150,522  

DTS Corp.

     15,182        367,316  

Future Corp.

     22,300        304,784  

I-Net Corp.(a)

     13,800        132,100  

Ines Corp.

     100        1,031  

Information Services International-Dentsu Ltd.

     13,800        539,184  

JBCC Holdings, Inc.

     8,900        145,045  

Mitsubishi Research Institute, Inc.(a)

     3,600        137,952  

NEC Networks & System Integration Corp.

     35,237        427,588  

NET One Systems Co. Ltd.

     16,200        385,251  

NSD Co. Ltd.

     27,200        487,225  

SB Technology Corp.(a)

     3,500        52,202  

Simplex Holdings, Inc.

     6,000        109,820  

TDC Soft, Inc.(a)

     10,100        112,846  

Uchida Yoko Co. Ltd.

     3,300        121,869  
     

 

 

 
Total IT Services

 

     3,554,172  
Leisure Products – 1.0%

 

Furyu Corp.

     8,800        79,081  

GLOBERIDE, Inc.(a)

     5,800        107,772  

Mizuno Corp.

     8,623        201,175  

Roland Corp.

     7,600        227,560  

Sankyo Co. Ltd.

     19,100        793,621  

Tomy Co. Ltd.

     25,100        279,308  

Yonex Co. Ltd.

     6,600        71,113  
     

 

 

 
Total Leisure Products

 

     1,759,630  
Life Sciences Tools & Services – 0.1%

 

Shin Nippon Biomedical Laboratories Ltd.

     8,400        173,567  
Machinery – 5.9%

 

Aichi Corp.

     23,000        137,561  

Aida Engineering Ltd.

     17,100        104,972  

Anest Iwata Corp.

     18,000        135,653  

Asahi Diamond Industrial Co. Ltd.(a)

     20,600        144,876  

Bando Chemical Industries Ltd.

     23,100        183,634  

CKD Corp.

     22,541        364,138  

DMG Mori Co. Ltd.

     37,200        622,748  

Fujitec Co. Ltd.(a)

     15,861        391,490  

Fukushima Galilei Co. Ltd.

     2,600        93,283  

Furukawa Co. Ltd.

     4,300        41,259  

Giken Ltd.(a)

     5,600        116,763  

Glory Ltd.(a)

     10,500        228,398  

Hitachi Zosen Corp.

     24,000        156,165  

Hokuetsu Industries Co. Ltd.(a)

     12,500        131,302  

Hosokawa Micron Corp.

     4,600      100,233  

Japan Steel Works Ltd.(a)

     11,104        206,829  

Juki Corp.

     11,600        54,387  

Kitz Corp.

     37,189        259,309  

Kyokuto Kaihatsu Kogyo Co. Ltd.(a)

     13,580        164,891  

Makino Milling Machine Co. Ltd.(a)

     5,000        182,395  

Max Co. Ltd.

     15,700        250,086  

Meidensha Corp.(a)

     9,900        142,895  

METAWATER Co. Ltd.(a)

     11,600        150,524  

Mitsuboshi Belting Ltd.(a)

     25,246        746,435  

Morita Holdings Corp.

     10,805        107,977  

Nachi-Fujikoshi Corp.(a)

     8,400        249,305  

Nikkiso Co. Ltd.

     12,300        86,874  

Nikko Co. Ltd.(a)

     32,500        154,820  

Nippon Thompson Co. Ltd.

     24,800        108,264  

Nissei ASB Machine Co. Ltd.(a)

     3,300        97,197  

Nitta Corp.

     12,300        270,879  

Nitto Kohki Co. Ltd.

     9,000        122,398  

Noritake Co. Ltd.

     6,400        220,723  

NTN Corp.

     38,500        97,487  

Obara Group, Inc.

     4,979        147,960  

Oiles Corp.(a)

     6,800        85,837  

OKUMA Corp.(a)

     6,370        282,866  

Organo Corp.(a)

     9,700        262,743  

OSG Corp.

     26,100        389,862  

Ryobi Ltd.

     8,400        97,134  

Shibaura Machine Co. Ltd.

     5,761        136,352  

Shibuya Corp.

     6,600        123,827  

Shinmaywa Industries Ltd.(a)

     16,785        148,819  

Shinwa Co. Ltd.

     7,500        119,130  

Sodick Co. Ltd.

     24,400        139,334  

Star Micronics Co. Ltd.

     16,634        225,345  

Takeuchi Manufacturing Co. Ltd.

     12,200        268,768  

Takuma Co. Ltd.

     18,300        182,464  

Teikoku Electric Manufacturing Co. Ltd.

     7,100        130,808  

Tocalo Co. Ltd.

     30,300        295,054  

Torishima Pump Manufacturing Co. Ltd.(a)

     14,200        167,404  

Tsubakimoto Chain Co.

     17,345        418,996  

Tsugami Corp.

     16,300        175,627  

Union Tool Co.

     5,600        138,643  

YAMABIKO Corp.

     20,800        205,671  
     

 

 

 
Total Machinery

 

     10,768,794  
Marine Transportation – 0.5%

 

Iino Kaiun Kaisha Ltd.

     68,300        515,239  

NS United Kaiun Kaisha Ltd.(a)

     15,400        476,152  
     

 

 

 
Total Marine Transportation

 

     991,391  
Media – 0.8%

 

Carta Holdings, Inc.

     6,500        70,084  

Digital Holdings, Inc.(a)

     17,300        149,095  

FAN Communications, Inc.(a)

     28,800        87,424  

Gakken Holdings Co. Ltd.

     10,400        66,499  

Intage Holdings, Inc.

     13,800        160,718  

Macromill, Inc.

     9,700        68,291  

 

See Notes to Financial Statements.

 

82   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Proto Corp.

     12,900      $ 114,471  

SKY Perfect JSAT Holdings, Inc.

     126,300        490,624  

ValueCommerce Co. Ltd.

     7,700        98,355  

Wowow, Inc.

     6,600        62,137  

Zenrin Co. Ltd.(a)

     12,380        77,578  
     

 

 

 
Total Media

 

     1,445,276  
Metals & Mining – 4.8%

 

Asahi Holdings, Inc.(a)

     29,500        448,185  

Daido Steel Co. Ltd.(a)

     18,100        707,191  

Daiki Aluminium Industry Co. Ltd.(a)

     18,600        199,570  

Dowa Holdings Co. Ltd.(a)

     15,400        491,194  

Hakudo Co. Ltd.(a)

     6,700        131,745  

Kobe Steel Ltd.

     245,900        1,945,546  

Kyoei Steel Ltd.(a)

     11,514        139,113  

Maruichi Steel Tube Ltd.

     32,200        704,050  

Mitsubishi Materials Corp.

     32,200        521,868  

Mitsui Mining & Smelting Co. Ltd.(a)

     26,100        630,487  

Nakayama Steel Works Ltd.(a)

     24,100        176,191  

Neturen Co. Ltd.

     25,800        134,728  

Nippon Denko Co. Ltd.(a)

     87,400        234,441  

Nippon Light Metal Holdings Co. Ltd.(a)

     28,600        314,172  

Nippon Yakin Kogyo Co. Ltd.(a)

     6,900        220,599  

Nittetsu Mining Co. Ltd.

     7,000        188,294  

Sanyo Special Steel Co. Ltd.

     22,400        412,689  

Toho Titanium Co. Ltd.(a)

     8,800        145,796  

Toho Zinc Co. Ltd.(a)

     4,300        65,749  

Tokyo Steel Manufacturing Co. Ltd.(a)

     46,300        475,211  

Topy Industries Ltd.

     9,800        145,501  

UACJ Corp.(a)

     16,300        322,718  
     

 

 

 
Total Metals & Mining

 

     8,755,038  
Oil, Gas & Consumable Fuels – 1.4%

 

Cosmo Energy Holdings Co. Ltd.

     48,400        1,558,299  

Fuji Oil Co. Ltd.(a)

     35,500        70,685  

Itochu Enex Co. Ltd.

     39,581        335,765  

Nippon Coke & Engineering Co. Ltd.(a)

     222,200        145,251  

Sala Corp.

     24,800        140,314  

San-Ai Obbli Co. Ltd.

     21,016        216,492  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     2,466,806  
Paper & Forest Products – 0.4%

 

Daiken Corp.

     14,300        244,977  

Daio Paper Corp.(a)

     28,800        223,752  

Hokuetsu Corp.(a)

     32,332        215,482  

Tokushu Tokai Paper Co. Ltd.(a)

     5,500        121,497  
     

 

 

 
Total Paper & Forest Products

 

     805,708  
Personal Care Products – 0.5%

 

Mandom Corp.(a)

     10,800        119,856  

Milbon Co. Ltd.

     3,900        159,704  

Noevir Holdings Co. Ltd.

     16,900        685,701  
     

 

 

 
Total Personal Care Products

 

     965,261  
Pharmaceuticals – 1.6%

 

Fuji Pharma Co. Ltd.

     14,700        125,141  

Hisamitsu Pharmaceutical Co., Inc.

     17,000        482,831  

JCR Pharmaceuticals Co. Ltd.(a)

     11,900      126,341  

Kaken Pharmaceutical Co. Ltd.

     12,200        338,711  

KYORIN Holdings, Inc.

     20,185        258,436  

Mochida Pharmaceutical Co. Ltd.(a)

     13,822        346,874  

Sawai Group Holdings Co. Ltd.

     11,624        318,789  

Seikagaku Corp.(a)

     14,100        86,132  

Torii Pharmaceutical Co. Ltd.

     4,100        97,964  

Towa Pharmaceutical Co. Ltd.(a)

     12,400        176,557  

Tsumura & Co.

     20,400        403,126  

ZERIA Pharmaceutical Co. Ltd.(a)

     12,700        214,227  
     

 

 

 
Total Pharmaceuticals

 

     2,975,129  
Professional Services – 2.8%

 

Altech Corp.

     9,260        175,612  

Bell System24 Holdings, Inc.

     38,900        422,057  

Dip Corp.(a)

     7,100        188,583  

en Japan, Inc.(a)

     10,300        176,375  

Forum Engineering, Inc.

     17,400        110,213  

FULLCAST Holdings Co. Ltd.

     7,600        137,792  

Funai Soken Holdings, Inc.(a)

     12,310        250,658  

IR Japan Holdings Ltd.(a)

     7,200        126,645  

JAC Recruitment Co. Ltd.

     14,600        285,769  

LIKE, Inc.(a)

     6,200        95,220  

Link & Motivation, Inc.(a)

     100        394  

Meitec Corp.

     29,800        529,320  

Nomura Co. Ltd.(a)

     21,300        144,678  

Open Up Group, Inc.

     17,600        253,771  

Quick Co. Ltd.(a)

     6,300        84,164  

Relia, Inc.

     23,300        255,076  

Tanseisha Co. Ltd.(a)

     16,300        94,305  

TechnoPro Holdings, Inc.

     16,500        451,893  

TKC Corp.(a)

     9,700        267,481  

Transcosmos, Inc.

     27,500        647,776  

UT Group Co. Ltd.*(a)

     3,600        66,433  

Weathernews, Inc.

     1,700        84,559  

Will Group, Inc.

     9,000        73,101  

World Holdings Co. Ltd.(a)

     4,200        80,977  

YAMADA Consulting Group Co. Ltd.(a)

     10,300        118,486  
     

 

 

 
Total Professional Services

 

     5,121,338  
Real Estate Management & Development – 1.8%

 

Arealink Co. Ltd.

     6,500        114,919  

Dear Life Co. Ltd.

     34,100        171,153  

Goldcrest Co. Ltd.

     16,900        216,885  

Good Com Asset Co. Ltd.

     15,500        98,294  

Grandy House Corp.(a)

     31,400        129,526  

Heiwa Real Estate Co. Ltd.

     12,568        357,426  

Ichigo, Inc.(a)

     94,700        197,099  

JINUSHI Co. Ltd.(a)

     7,700        110,851  

Katitas Co. Ltd.

     9,200        178,276  

Keihanshin Building Co. Ltd.

     15,300        137,492  

Loadstar Capital KK

     6,500        68,668  

Mirarth Holdings, Inc.(a)

     69,000        195,454  

Nisshin Group Holdings Co. Ltd.(a)

     43,100        147,348  

SAMTY Co. Ltd.(a)

     16,400        271,218  

 

See Notes to Financial Statements.

 

WisdomTree Trust      83  


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Star Mica Holdings Co. Ltd.

     14,200      $ 74,260  

Starts Corp., Inc.

     21,600        412,719  

Sun Frontier Fudousan Co. Ltd.

     26,600        256,027  

Tosei Corp.

     15,800        174,751  
     

 

 

 
Total Real Estate Management & Development

 

     3,312,366  
Semiconductors & Semiconductor Equipment – 1.8%

 

Ferrotec Holdings Corp.

     7,900        197,070  

Furuya Metal Co. Ltd.(a)

     1,800        122,939  

Japan Material Co. Ltd.(a)

     8,600        152,369  

Micronics Japan Co. Ltd.

     16,300        163,257  

Mimasu Semiconductor Industry Co. Ltd.

     6,527        144,233  

Mitsui High-Tec, Inc.

     3,400        213,570  

Optorun Co. Ltd.(a)

     7,200        119,775  

Rorze Corp.

     1,300        113,698  

Shibaura Mechatronics Corp.

     1,400        169,359  

Shindengen Electric Manufacturing Co. Ltd.(a)

     3,400        85,453  

Tokyo Seimitsu Co. Ltd.

     26,100        1,004,072  

Towa Corp.(a)

     5,500        86,535  

Ulvac, Inc.

     9,300        401,796  

Yamaichi Electronics Co. Ltd.(a)

     17,300        255,685  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     3,229,811  
Software – 0.8%

 

Computer Engineering & Consulting Ltd.

     12,400        119,071  

Cresco Ltd.(a)

     8,400        107,170  

Cybernet Systems Co. Ltd.

     100        666  

Digital Arts, Inc.

     1,600        61,312  

Fuji Soft, Inc.(a)

     5,700        328,492  

Fukui Computer Holdings, Inc.(a)

     3,600        74,007  

Justsystems Corp.(a)

     3,300        87,155  

Miroku Jyoho Service Co. Ltd.

     11,400        140,819  

SRA Holdings

     7,300        160,053  

Systena Corp.(a)

     69,700        151,875  

UNITED, Inc.

     9,700        93,290  

WingArc1st, Inc.(a)

     8,800        129,134  
     

 

 

 
Total Software

 

     1,453,044  
Specialty Retail – 3.7%

 

Adastria Co. Ltd.

     11,900        218,436  

Alpen Co. Ltd.(a)

     9,100        136,203  

AOKI Holdings, Inc.

     14,000        89,624  

Aoyama Trading Co. Ltd.

     9,300        65,545  

Arclands Corp.

     10,316        115,725  

Asahi Co. Ltd.

     12,000        122,173  

Autobacs Seven Co. Ltd.

     42,100        457,093  

Bic Camera, Inc.

     17,200        143,840  

Chiyoda Co. Ltd.

     15,491        94,862  

DCM Holdings Co. Ltd.

     39,645        344,053  

EDION Corp.(a)

     50,039        482,005  

Honeys Holdings Co. Ltd.(a)

     13,900        173,476  

IDOM, Inc.

     22,800        146,472  

Joshin Denki Co. Ltd.

     7,900        115,986  

Joyful Honda Co. Ltd.(a)

     21,400        275,439  

K’s Holdings Corp.

     105,900        925,402  

Keiyo Co. Ltd.

     12,700        80,347  

Kohnan Shoji Co. Ltd.

     7,600      185,303  

Kojima Co. Ltd.

     17,200        72,372  

Komeri Co. Ltd.

     12,137        249,507  

Nafco Co. Ltd.

     4,800        63,620  

Nextage Co. Ltd.

     5,600        116,132  

Nishimatsuya Chain Co. Ltd.(a)

     10,500        128,913  

Nojima Corp.(a)

     18,100        190,261  

PAL GROUP Holdings Co. Ltd.

     14,300        331,471  

Sanrio Co. Ltd.

     5,300        236,148  

Scroll Corp.(a)

     41,700        253,164  

T-Gaia Corp.(a)

     17,000        213,314  

VT Holdings Co. Ltd.

     70,400        268,185  

World Co. Ltd.(a)

     9,400        104,601  

Xebio Holdings Co. Ltd.

     20,100        158,426  

Yellow Hat Ltd.(a)

     20,500        280,799  
     

 

 

 
Total Specialty Retail

 

     6,838,897  
Technology Hardware, Storage & Peripherals – 1.2%

 

Eizo Corp.(a)

     5,400        166,151  

Elecom Co. Ltd.

     18,300        172,564  

Konica Minolta, Inc.(a)

     230,300        984,602  

MCJ Co. Ltd.

     29,400        205,661  

Riso Kagaku Corp.(a)

     8,700        150,807  

Roland DG Corp.(a)

     6,800        169,119  

Toshiba TEC Corp.(a)

     4,700        138,079  

Wacom Co. Ltd.(a)

     43,311        224,544  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     2,211,527  
Textiles, Apparel & Luxury Goods – 1.1%

 

Baroque Japan Ltd.(a)

     23,400        144,173  

Descente Ltd.(a)

     4,700        146,202  

Fujibo Holdings, Inc.

     5,200        129,131  

Gunze Ltd.(a)

     6,283        211,731  

Japan Wool Textile Co. Ltd.

     21,525        159,630  

Kurabo Industries Ltd.

     11,276        213,252  

Morito Co. Ltd.

     16,300        125,168  

Onward Holdings Co. Ltd.

     80,733        232,329  

Seiko Group Corp.

     9,600        208,821  

Wacoal Holdings Corp.(a)

     16,000        298,986  

Yondoshi Holdings, Inc.

     11,400        152,896  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     2,022,319  
Trading Companies & Distributors – 3.4%

 

Advan Group Co. Ltd.

     14,500        105,136  

Alconix Corp.(a)

     10,300        105,330  

Chori Co. Ltd.

     11,400        214,826  

Daiichi Jitsugyo Co. Ltd.

     2,300        96,258  

Hanwa Co. Ltd.(a)

     8,822        261,498  

Inaba Denki Sangyo Co. Ltd.

     22,788        494,833  

Inabata & Co. Ltd.(a)

     22,741        459,126  

JK Holdings Co. Ltd.(a)

     11,500        89,086  

Kamei Corp.

     11,200        123,790  

Kanamoto Co. Ltd.

     10,428        170,731  

Kanematsu Corp.

     26,000        320,775  

KPP Group Holdings Co. Ltd.(a)

     18,300        92,126  

MARUKA FURUSATO Corp.

     5,200        109,400  

 

See Notes to Financial Statements.

 

84   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Mitsui Matsushima Holdings Co. Ltd.(a)

     6,800      $ 167,841  

Nagase & Co. Ltd.

     23,604        360,915  

Nichiden Corp.

     9,200        131,547  

Nippon Steel Trading Corp.

     16,400        1,144,759  

Nishio Rent All Co. Ltd.

     10,400        242,633  

Onoken Co. Ltd.(a)

     12,900        144,033  

Shinsho Corp.(a)

     6,800        296,341  

Totech Corp.(a)

     7,400        243,256  

Trusco Nakayama Corp.

     6,900        116,288  

Wakita & Co. Ltd.

     15,200        138,992  

Yamazen Corp.

     31,906        243,808  

Yuasa Trading Co. Ltd.

     9,300        264,486  
     

 

 

 
Total Trading Companies & Distributors

 

     6,137,814  
Transportation Infrastructure – 0.3%

 

Mitsubishi Logistics Corp.(a)

     21,400        500,067  

Nissin Corp.(a)

     8,400        133,489  
     

 

 

 
Total Transportation Infrastructure

 

     633,556  
Wireless Telecommunication Services – 0.2%

 

Okinawa Cellular Telephone Co.

     19,700        448,501  
TOTAL COMMON STOCKS
(Cost: $196,259,711)

 

     179,247,602  
EXCHANGE-TRADED FUND – 0.2%

 

United States – 0.2%

 

WisdomTree Japan Hedged Equity Fund(b)
(Cost: $226,530)
     3,365      237,973  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 14.3%

 

United States – 14.3%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $26,129,443)      26,129,443        26,129,443  

TOTAL INVESTMENTS IN SECURITIES – 112.7%

(Cost: $222,615,684)

 

 

     205,615,018  

Other Assets less Liabilities – (12.7)%

 

     (23,118,298
     

 

 

 
NET ASSETS – 100.0%

 

   $ 182,496,720  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $53,017,527 and the total market value of the collateral held by the Fund was $56,273,059. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $30,143,616.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree Japan Hedged Equity Fund

  $ 380,663     $ 3,081,393     $ 3,153,204     $ (75,217   $ 4,338     $ 237,973     $ 42,249  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

 

Commercial Services & Supplies

   $ 2,516,091      $ 214,485      $         —      $ 2,730,576  

Other

     176,517,026                      176,517,026  

Exchange-Traded Fund

     237,973                      237,973  

Investment of Cash Collateral for Securities Loaned

            26,129,443               26,129,443  

Total Investments in Securities

   $ 179,271,090      $ 26,343,928      $      $ 205,615,018  

 

See Notes to Financial Statements.

 

WisdomTree Trust      85  


Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
Europe Quality
Dividend
Growth Fund
     WisdomTree
Europe SmallCap
Dividend Fund
     WisdomTree
International
AI Enhanced
Value Fund
     WisdomTree
International
Equity Fund
     WisdomTree
International
High Dividend
Fund
 

ASSETS:

 

Investments, at cost

   $ 63,212,044      $ 277,033,634      $ 82,550,257      $ 528,940,702      $ 420,181,561  

Investment in affiliates, at cost (Note 3)

            61,960                      894,280  

Foreign currency, at cost

     9,600        175,943        171,371        630,716        439,999  

Investments in securities, at value1,2 (Note 2)

     69,912,413        277,263,107        80,097,381        609,523,887        446,775,730  

Investment in affiliates, at value (Note 3)

            64,306                      1,054,486  

Cash

     41,034        96,078        189,689        2,345        237,556  

Foreign currency, at value

     9,692        176,126        170,911        629,474        438,548  

Unrealized appreciation on foreign currency contracts

                   115                

Receivables:

 

Investment securities sold

                   1,940,372                

Dividends

     125,190        1,274,489        755,772        4,035,305        3,693,779  

Securities lending income

     690        71,980        2,600        65,902        86,539  

Foreign tax reclaims

     302,790        1,518,763        266,788        1,906,209        672,868  

Other (Note 6)

     4,816        450,836        14,228        51,615        14,276  

Total Assets

     70,396,625        280,915,685        83,437,856        616,214,737        452,973,782  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

            573        2               166  

Payables:

 

Cash collateral received for securities loaned (Note 2)

     1,121,606        29,380,946        3,481,984        45,815,394        39,582,958  

Investment securities purchased

                   183,120                

Capital shares redeemed

                   1,944,523                

Advisory fees (Note 3)

     32,628        122,355        38,944        228,830        198,089  

Service fees (Note 2)

     248        930        295        2,097        1,507  

Other (Note 6)

     1,445        613,563        4,268        15,485        4,283  

Total Liabilities

     1,155,927        30,118,367        5,653,136        46,061,806        39,787,003  

NET ASSETS

   $ 69,240,698      $ 250,797,318      $ 77,784,720      $ 570,152,931      $ 413,186,779  

NET ASSETS:

 

Paid-in capital

   $ 77,005,711      $ 552,820,612      $ 149,750,943      $ 688,595,912      $ 479,761,638  

Total distributable earnings (loss)

     (7,765,013      (302,023,294      (71,966,223      (118,442,981      (66,574,859

NET ASSETS

   $ 69,240,698      $ 250,797,318      $ 77,784,720      $ 570,152,931      $ 413,186,779  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     2,300,000        4,300,000        2,000,000        11,450,000        11,000,000  

Net asset value per share

   $ 30.10      $ 58.32      $ 38.89      $ 49.80      $ 37.56  

1 Includes market value of securities out on loan of:

   $ 1,436,515      $ 34,250,422      $ 5,165,534      $ 62,266,565      $ 55,711,563  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

 

 

See Notes to Financial Statements.

 

86   WisdomTree Trust


Statements of Assets and Liabilities (continued)

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
International
LargeCap
Dividend Fund
     WisdomTree
International
MidCap
Dividend Fund
     WisdomTree
International
Multifactor
Fund
     WisdomTree
International
Quality Dividend
Growth Fund
     WisdomTree
International
SmallCap
Dividend Fund
 

ASSETS:

 

Investments, at cost

   $ 440,476,782      $ 136,560,086      $ 39,502,542      $ 627,658,752      $ 1,283,311,846  

Investment in affiliates, at cost (Note 3)

     325,076                             3,107,270  

Foreign currency, at cost

     115,146        83,655        29,541        256,871        1,072,983  

Investments in securities, at value1,2 (Note 2)

     522,149,122        140,828,818        42,087,534        686,897,390        1,301,429,112  

Investment in affiliates, at value (Note 3)

     344,680                             3,583,268  

Cash

            22,886                      300,247  

Deposits at broker

                   20,000                

Foreign currency, at value

     116,252        83,600        29,524        256,664        1,073,086  

Unrealized appreciation on foreign currency contracts

                   78,482               402  

Receivables:

 

Capital shares sold

     36,000               19,922        18,569,212         

Dividends

     3,445,356        840,509        213,756        1,231,688        9,563,367  

Securities lending income

     68,031        5,328        2,071        10,045        153,937  

Foreign tax reclaims

     1,688,081        228,493        84,672        1,160,488        3,084,097  

Other (Note 6)

     21,345        24,298        5,956        24,106        597,168  

Total Assets

     527,868,867        142,033,932        42,541,917        708,149,593        1,319,784,684  

LIABILITIES:

 

Due to custodian

     1,022               11,710        22,641         

Unrealized depreciation on foreign currency contracts

            102        322,269               411  

Payables:

 

Cash collateral received for securities loaned (Note 2)

     35,830,045        13,788,259        2,197,452        23,845,723        125,225,751  

Investment securities purchased

                          18,143,424         

Advisory fees (Note 3)

     195,198        62,482        12,703        212,523        582,305  

Service fees (Note 2)

     1,791        474        146        2,226        4,431  

Other (Note 6)

     6,403        7,285        1,787        7,232        179,151  

Total Liabilities

     36,034,459        13,858,602        2,546,067        42,233,769        125,992,049  

NET ASSETS

   $ 491,834,408      $ 128,175,330      $ 39,995,850      $ 665,915,824      $ 1,193,792,635  

NET ASSETS:

 

Paid-in capital

   $ 533,975,199      $ 167,440,134      $ 41,460,549      $ 675,642,710      $ 1,568,865,030  

Total distributable earnings (loss)

     (42,140,791      (39,264,804      (1,464,699      (9,726,886      (375,072,395

NET ASSETS

   $ 491,834,408      $ 128,175,330      $ 39,995,850      $ 665,915,824      $ 1,193,792,635  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     10,550,000        2,200,000        1,600,000        19,750,000        19,650,000  

Net asset value per share

   $ 46.62      $ 58.26      $ 25.00      $ 33.72      $ 60.75  

1 Includes market value of securities out on loan of:

   $ 46,880,996      $ 23,398,066      $ 4,180,156      $ 30,557,656      $ 199,039,176  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

 

 

See Notes to Financial Statements.

 

WisdomTree Trust      87  


Statements of Assets and Liabilities (concluded)

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
Japan SmallCap
Dividend Fund
 

ASSETS:

 

Investments, at cost

   $ 222,389,154  

Investment in affiliates, at cost (Note 3)

     226,530  

Foreign currency, at cost

     102,544  

Investments in securities, at value1,2 (Note 2)

     205,377,045  

Investment in affiliates, at value (Note 3)

     237,973  

Cash

     100,652  

Foreign currency, at value

     102,274  

Receivables:

 

Dividends

     2,614,509  

Securities lending income

     10,942  

Foreign tax reclaims

     272,566  

Total Assets

     208,715,961  

LIABILITIES:

 

Payables:

  

Cash collateral received for securities loaned (Note 2)

     26,129,443  

Advisory fees (Note 3)

     89,121  

Service fees (Note 2)

     677  

Total Liabilities

     26,219,241  

NET ASSETS

   $ 182,496,720  

NET ASSETS:

 

Paid-in capital

   $ 319,988,861  

Total distributable earnings (loss)

     (137,492,141

NET ASSETS

   $ 182,496,720  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     2,750,000  

Net asset value per share

   $ 66.36  

1 Includes market value of securities out on loan of:

   $ 53,017,527  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

 

 

See Notes to Financial Statements.

 

88   WisdomTree Trust


Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

     WisdomTree
Europe Quality
Dividend
Growth Fund
    WisdomTree
Europe SmallCap
Dividend Fund
    WisdomTree
International
AI Enhanced
Value Fund
    WisdomTree
International
Equity Fund
    WisdomTree
International
High Dividend
Fund
 

INVESTMENT INCOME:

 

Dividends

  $ 2,201,833     $ 13,999,736     $ 4,495,394     $ 27,734,648     $ 15,295,312  

Dividends from affiliates (Note 3)

          72,655                   144,253  

Interest

    91       5,308             1,735        

Non-cash dividends

    9,401       1,325,922       4,147       2,446,536       1,427,478  

Other income (Note 6)

    5,375       577,609       32,412       150,952       15,631  

Securities lending income, net (Note 2)

    16,310       416,118       65,996       334,284       264,414  

Less: Foreign withholding taxes on dividends

    (235,553     (1,512,959     (369,649     (2,364,676     (1,213,411

Total investment income

    1,997,457       14,884,389       4,228,300       28,303,479       15,933,677  

EXPENSES:

 

Advisory fees (Note 3)

    360,325       1,297,336       506,414       2,729,053       1,427,019  

Service fees (Note 2)

    2,734       9,841       3,842       25,016       10,826  

Other fees (Note 6)

    1,445       147,781       8,751       39,626       4,283  

Total expenses

    364,504       1,454,958       519,007       2,793,695       1,442,128  

Expense waivers (Note 3)

          (2,309                 (3,809

Net expenses

    364,504       1,452,649       519,007       2,793,695       1,438,319  

Net investment income

    1,632,953       13,431,740       3,709,293       25,509,784       14,495,358  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

 

Investment transactions

    (8,759,890     (41,396,223     (11,914,598     (29,706,605     (12,744,896

Investment transactions in affiliates (Note 3)

          (321,495                 (520,832

In-kind redemptions

    1,064,413       (9,405,117     (1,459,735     6,807,307        

Futures contracts

          142,602                    

Foreign currency contracts

    22,765       (223,189     35,264       (170,663     (44,148

Foreign currency related transactions

    (57,787     89,098       (151,754     (311,878     (73,794

Net realized loss

    (7,730,499     (51,114,324     (13,490,823     (23,381,839     (13,383,670

Net increase (decrease) in unrealized appreciation/depreciation:

 

Investment transactions

    3,010,139       3,831,664       6,534,173       (24,794,633     11,253,096  

Investment transactions in affiliates (Note 3)

          11,781                   138,424  

Foreign currency contracts

          1,282       763       (10     (41

Translation of assets and liabilities denominated in foreign currencies

    4,184       (84,532     (1,800     (3,098     10,826  

Net increase (decrease) in unrealized appreciation/depreciation

    3,014,323       3,760,195       6,533,136       (24,797,741     11,402,305  

Net realized and unrealized loss on investments

    (4,716,176     (47,354,129     (6,957,687     (48,179,580     (1,981,365

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

  $ (3,083,223   $ (33,922,389   $ (3,248,394   $ (22,669,796   $ 12,513,993  

 

See Notes to Financial Statements.

 

WisdomTree Trust      89  


Statements of Operations (continued)

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

     WisdomTree
International
LargeCap
Dividend Fund
    WisdomTree
International
MidCap
Dividend Fund
    WisdomTree
International
Multifactor
Fund
    WisdomTree
International
Quality Dividend
Growth Fund
    WisdomTree
International
SmallCap
Dividend Fund
 

INVESTMENT INCOME:

 

Dividends

  $ 18,913,449     $ 6,254,642     $ 1,499,073     $ 13,999,627     $ 64,510,420  

Dividends from affiliates (Note 3)

    37,637                         444,031  

Interest

    788             31              

Non-cash dividends

    1,971,585       39,698       26,537       2,082,081       1,807,645  

Other income (Note 6)

    23,586       26,727       6,664       27,955       997,815  

Securities lending income, net (Note 2)

    251,790       81,783       31,060       90,837       1,145,610  

Less: Foreign withholding taxes on dividends

    (1,543,676     (602,400     (118,153     (1,277,351     (5,822,848

Total investment income

    19,655,159       5,800,450       1,445,212       14,923,149       63,082,673  

EXPENSES:

 

Advisory fees (Note 3)

    1,918,507       717,741       125,695       1,645,412       6,687,718  

Service fees (Note 2)

    17,586       5,445       1,456       17,237       50,734  

Other fees (Note 6)

    6,403       7,285       1,787       7,381       238,503  

Total expenses

    1,942,496       730,471       128,938       1,670,030       6,976,955  

Expense waivers (Note 3)

    (1,368                       (18,856

Net expenses

    1,941,128       730,471       128,938       1,670,030       6,958,099  

Net investment income

    17,714,031       5,069,979       1,316,274       13,253,119       56,124,574  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

 

Investment transactions

    (17,447,761     (14,091,746     (2,653,861     (61,292,301     (161,480,069

Investment transactions in affiliates (Note 3)

    (83,774                       (2,449,960

In-kind redemptions

          289,379       494,705       2,678,648       (505,545

Futures contracts

                1,984              

Foreign currency contracts

    (90,229     5,958       1,644,187       (76,738     (1,380,678

Foreign currency related transactions

    (150,603     (88,991     (26,092     (97,631     526,195  

Net realized loss

    (17,772,367     (13,885,400     (539,077     (58,788,022     (165,290,057

Net increase (decrease) in unrealized appreciation/depreciation:

         

Investment transactions

    15,788,013       723,676       722,239       52,343,379       7,689,941  

Investment transactions in affiliates (Note 3)

    19,604                         703,898  

Foreign currency contracts

          (102     (307,966           (1,718

Translation of assets and liabilities denominated in foreign currencies

    24,529       (4,969     (633     10,671       (197,723

Net increase in unrealized appreciation/depreciation

    15,832,146       718,605       413,640       52,354,050       8,194,398  

Net realized and unrealized loss on investments

    (1,940,221     (13,166,795     (125,437     (6,433,972     (157,095,659

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

  $ 15,773,810     $ (8,096,816   $ 1,190,837     $ 6,819,147     $ (100,971,085

 

See Notes to Financial Statements.

 

90   WisdomTree Trust


Statements of Operations (concluded)

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

      WisdomTree
Japan SmallCap
Dividend Fund
 

INVESTMENT INCOME:

  

Dividends

   $ 6,129,223  

Dividends from affiliates (Note 3)

     42,249  

Securities lending income, net (Note 2)

     56,225  

Less: Foreign withholding taxes on dividends

     (629,721

Total investment income

     5,597,976  

EXPENSES:

 

Advisory fees (Note 3)

     1,032,826  

Service fees (Note 2)

     7,836  

Total expenses

     1,040,662  

Expense waivers (Note 3)

     (907

Net expenses

     1,039,755  

Net investment income

     4,558,221  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized loss from:

 

Investment transactions

     (21,380,220

Investment transactions in affiliates (Note 3)

     (75,217

In-kind redemptions

     (5,058,111

Foreign currency contracts

     846  

Foreign currency related transactions

     (299,610

Net realized loss

     (26,812,312

Net increase (decrease) in unrealized appreciation/depreciation:

 

Investment transactions

     25,176,844  

Investment transactions in affiliates (Note 3)

     4,338  

Foreign currency contracts

     704  

Translation of assets and liabilities denominated in foreign currencies

     (12,986

Net increase in unrealized appreciation/depreciation

     25,168,900  

Net realized and unrealized loss on investments

     (1,643,412

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ 2,914,809  

 

See Notes to Financial Statements.

 

WisdomTree Trust      91  


Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

      WisdomTree Europe Quality
Dividend Growth Fund
     WisdomTree Europe SmallCap
Dividend Fund
     WisdomTree International AI
Enhanced Value Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 1,632,953      $ 1,962,084      $ 13,431,740      $ 9,068,092      $ 3,709,293      $ 7,150,496  

Net realized gain (loss) on investments, futures contracts, foreign currency contracts and foreign currency related transactions

     (7,730,499      1,586,007        (51,114,324      49,203,140        (13,490,823      12,748,134  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     3,014,323        (2,620,967      3,760,195        (57,010,630      6,533,136        (18,626,236

Net increase (decrease) in net assets resulting from operations

     (3,083,223      927,124        (33,922,389      1,260,602        (3,248,394      1,272,394  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (1,667,670      (1,969,811      (14,405,217      (8,828,002      (4,170,635      (7,009,725

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     18,424,119        26,532,909        50,584,868        11,158,363               86,530,850  

Cost of shares redeemed

     (16,778,882             (47,265,636      (18,012,335      (36,378,090      (103,559,834

Net increase (decrease) in net assets resulting from capital share transactions

     1,645,237        26,532,909        3,319,232        (6,853,972      (36,378,090      (17,028,984

Net Increase (Decrease) in Net Assets

     (3,105,656      25,490,222        (45,008,374      (14,421,372      (43,797,119      (22,766,315

NET ASSETS:

 

Beginning of year

   $ 72,346,354      $ 46,856,132      $ 295,805,692      $ 310,227,064      $ 121,581,839      $ 144,348,154  

End of year

   $ 69,240,698      $ 72,346,354      $ 250,797,318      $ 295,805,692      $ 77,784,720      $ 121,581,839  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     2,300,000        1,500,000        4,350,000        4,450,000        3,000,000        3,400,000  

Shares created

     650,000        800,000        850,000        150,000               2,000,000  

Shares redeemed

     (650,000             (900,000      (250,000      (1,000,000      (2,400,000

Shares outstanding, end of year

     2,300,000        2,300,000        4,300,000        4,350,000        2,000,000        3,000,000  

 

See Notes to Financial Statements.

 

92   WisdomTree Trust


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

     

WisdomTree International

Equity Fund

     WisdomTree International High
Dividend Fund
     WisdomTree International LargeCap
Dividend Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 25,509,784      $ 22,049,629      $ 14,495,358      $ 8,707,341      $ 17,714,031      $ 13,317,196  

Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions

     (23,381,839      5,959,349        (13,383,670      2,422,107        (17,772,367      4,648,519  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     (24,797,741      415,707        11,402,305        660,813        15,832,146        7,274,413  

Net increase (decrease) in net assets resulting from operations

     (22,669,796      28,424,685        12,513,993        11,790,261        15,773,810        25,240,128  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (26,843,795      (22,558,337      (14,557,836      (8,671,887      (18,097,424      (13,525,175

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     43,192,061        64,690,387        213,596,432        21,973,614        112,351,029        24,586,877  

Cost of shares redeemed

     (57,953,886      (38,753,146             (6,142,830             (7,211,803

Net increase (decrease) in net assets resulting from capital share transactions

     (14,761,825      25,937,241        213,596,432        15,830,784        112,351,029        17,375,074  

Net Increase (Decrease) in Net Assets

     (64,275,416      31,803,589        211,552,589        18,949,158        110,027,415        29,090,027  

NET ASSETS:

 

Beginning of year

   $ 634,428,347      $ 602,624,758      $ 201,634,190      $ 182,685,032      $ 381,806,993      $ 352,716,966  

End of year

   $ 570,152,931      $ 634,428,347      $ 413,186,779      $ 201,634,190      $ 491,834,408      $ 381,806,993  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     11,950,000        11,450,000        5,050,000        4,650,000        7,800,000        7,450,000  

Shares created

     900,000        1,250,000        5,950,000        550,000        2,750,000        500,000  

Shares redeemed

     (1,400,000      (750,000             (150,000             (150,000

Shares outstanding, end of year

     11,450,000        11,950,000        11,000,000        5,050,000        10,550,000        7,800,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      93  


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

      WisdomTree International MidCap
Dividend Fund
     WisdomTree International Multifactor
Fund
     WisdomTree International Quality
Dividend Growth Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 5,069,979      $ 5,409,875      $ 1,316,274      $ 1,104,597      $ 13,253,119      $ 9,409,991  

Net realized gain (loss) on investments, futures contracts, foreign currency contracts and foreign currency related transactions

     (13,885,400      5,632,037        (539,077      2,276,857        (58,788,022      9,097,988  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     718,605        (10,864,182      413,640        (2,159,096      52,354,050        (21,788,396

Net increase (decrease) in net assets resulting from operations

     (8,096,816      177,730        1,190,837        1,222,358        6,819,147        (3,280,417

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (5,553,560      (5,307,913      (1,277,796      (1,281,800      (13,540,674      (8,948,267

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     11,005,333               9,671,353               330,148,196        236,774,497  

Cost of shares redeemed

     (5,032,369      (3,421,536      (2,474,953      (5,192,465      (31,250,555      (41,113,302

Net increase (decrease) in net assets resulting from capital share transactions

     5,972,964        (3,421,536      7,196,400        (5,192,465      298,897,641        195,661,195  

Net Increase (Decrease) in Net Assets

     (7,677,412      (8,551,719      7,109,441        (5,251,907      292,176,114        183,432,511  

NET ASSETS:

 

Beginning of year

   $ 135,852,742      $ 144,404,461      $ 32,886,409      $ 38,138,316      $ 373,739,710      $ 190,307,199  

End of year

   $ 128,175,330      $ 135,852,742      $ 39,995,850      $ 32,886,409      $ 665,915,824      $ 373,739,710  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     2,100,000        2,150,000        1,300,000        1,500,000        10,150,000        5,150,000  

Shares created

     200,000               400,000               10,650,000        6,050,000  

Shares redeemed

     (100,000      (50,000      (100,000      (200,000      (1,050,000      (1,050,000

Shares outstanding, end of year

     2,200,000        2,100,000        1,600,000        1,300,000        19,750,000        10,150,000  

 

See Notes to Financial Statements.

 

94   WisdomTree Trust


Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

      WisdomTree International SmallCap
Dividend Fund
     WisdomTree Japan SmallCap
Dividend Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 56,124,574      $ 44,202,057      $ 4,558,221      $ 5,176,789  

Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions

     (165,290,057      151,859,396        (26,812,312      (457,146

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     8,194,398        (202,257,174      25,168,900        (29,534,772

Net increase (decrease) in net assets resulting from operations

     (100,971,085      (6,195,721      2,914,809        (24,815,129

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (62,885,580      (47,038,894      (7,163,312      (4,540,106

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     36,161,923        381,404,109        15,564,306        70,804,885  

Cost of shares redeemed

     (8,875,297      (401,325,182      (41,967,436      (18,441,877

Net increase (decrease) in net assets resulting from capital share transactions

     27,286,626        (19,921,073      (26,403,130      52,363,008  

Net Increase (Decrease) in Net Assets

     (136,570,039      (73,155,688      (30,651,633      23,007,773  

NET ASSETS:

 

Beginning of year

   $ 1,330,362,674      $ 1,403,518,362      $ 213,148,353      $ 190,140,580  

End of year

   $ 1,193,792,635      $ 1,330,362,674      $ 182,496,720      $ 213,148,353  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     19,200,000        19,450,000        3,200,000        2,500,000  

Shares created

     600,000        5,050,000        250,000        950,000  

Shares redeemed

     (150,000      (5,300,000      (700,000      (250,000

Shares outstanding, end of year

     19,650,000        19,200,000        2,750,000        3,200,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      95  


Financial Highlights

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Europe Quality Dividend Growth
Fund
   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Period Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 31.45     $ 31.24     $ 22.13     $ 25.06     $ 26.24  

Investment operations:

          

Net investment income1

     0.72       1.08       0.66       0.62       0.61  

Net realized and unrealized gain (loss)

     (1.35     0.21 2      9.10       (2.93     (1.05

Total from investment operations

     (0.63     1.29       9.76       (2.31     (0.44

Dividends to shareholders:

          

Net investment income

     (0.72     (1.08     (0.65     (0.62     (0.74

Net asset value, end of year

   $ 30.10     $ 31.45     $ 31.24     $ 22.13     $ 25.06  

TOTAL RETURN3

     (1.64 )%      4.02     44.43     (9.46 )%      (1.62 )% 

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 69,241     $ 72,346     $ 46,856     $ 25,450     $ 41,342  

Ratios to average net assets of:

          

Expenses

     0.59 %4      0.59 %4      0.58     0.58     0.58

Net investment income

     2.63     3.26     2.37     2.42     2.41

Portfolio turnover rate5

     43     53     61     43     42

 

WisdomTree Europe SmallCap Dividend Fund    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 68.00     $ 69.71     $ 41.06     $ 58.54     $ 69.55  

Investment operations:

          

Net investment income1

     3.42       2.03       1.31       2.43       2.57  

Net realized and unrealized gain (loss)

     (9.57     (1.79     28.62       (17.41     (10.87

Total from investment operations

     (6.15     0.24       29.93       (14.98     (8.30

Dividends to shareholders:

          

Net investment income

     (3.53     (1.95     (1.28     (2.50     (2.71

Net asset value, end of year

   $ 58.32     $ 68.00     $ 69.71     $ 41.06     $ 58.54  

TOTAL RETURN3

     (8.50 )%      0.18     73.76     (26.54 )%      (12.19 )% 

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 250,797     $ 295,806     $ 310,227     $ 320,231     $ 667,402  

Ratios to average net assets6 of:

          

Expenses7

     0.65 %4      0.73 %4      0.58     0.58     0.58

Net investment income

     6.00     2.77     2.39     4.15     4.06

Portfolio turnover rate5

     46     68     92     50     52

 

1 

Based on average shares outstanding.

 

2 

The amount of net realized and unrealized gain per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees for the WisdomTree Europe SmallCap Dividend Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

5 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

6 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

7 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

See Notes to Financial Statements.

 

96   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International AI
Enhanced Value Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 20221
    For the
Year Ended
March 31, 20211
     For the
Year Ended
March 31, 20201
     For the
Year Ended
March 31, 20191
 

Net asset value, beginning of year

   $ 40.53      $ 42.46     $ 31.66      $ 41.19      $ 43.18  

Investment operations:

             

Net investment income2

     1.56        2.14       1.64        1.69        1.74  

Net realized and unrealized gain (loss)

     (1.46      (1.98     10.78        (9.52      (1.98

Total from investment operations

     0.10        0.16       12.42        (7.83      (0.24

Dividends to shareholders:

             

Net investment income

     (1.74      (2.09     (1.62      (1.70      (1.75

Net asset value, end of year

   $ 38.89      $ 40.53     $ 42.46      $ 31.66      $ 41.19  

TOTAL RETURN3

     0.80      0.30     39.87      (19.77 )%       (0.49 )% 

RATIOS/SUPPLEMENTAL DATA:

             

Net assets, end of year (000’s omitted)

   $ 77,785      $ 121,582     $ 144,348      $ 106,061      $ 179,189  

Ratios to average net assets of:

             

Expenses

     0.59 %4       0.58 %5,6,7      0.58 %6,7       0.58 %6,7       0.58 %6,7 

Net investment income

     4.25      5.03 %7      4.34 %7       4.17 %7       4.17 %7 

Portfolio turnover rate8

     148 %9       99 %9,10      61      45      41

 

WisdomTree International Equity
Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 53.09      $ 52.63     $ 39.65      $ 50.59      $ 54.63  

Investment operations:

             

Net investment income2

     2.11        1.94       1.47        1.69        1.86  

Net realized and unrealized gain (loss)

     (3.19      0.50       12.99        (10.88      (3.98

Total from investment operations

     (1.08      2.44       14.46        (9.19      (2.12

Dividends to shareholders:

             

Net investment income

     (2.21      (1.98     (1.48      (1.75      (1.92

Net asset value, end of year

   $ 49.80      $ 53.09     $ 52.63      $ 39.65      $ 50.59  

TOTAL RETURN3

     (1.55 )%       4.62     36.92      (18.80 )%       (3.89 )% 

RATIOS/SUPPLEMENTAL DATA:

             

Net assets, end of year (000’s omitted)

   $ 570,153      $ 634,428     $ 602,625      $ 580,910      $ 837,260  

Ratios to average net assets of:

             

Expenses

     0.49 %11       0.49 %6,7,11      0.48 %6,7       0.48 %6,7       0.48 %6,7 

Net investment income

     4.49      3.58 %7      3.13 %7       3.36 %7       3.59 %7 

Portfolio turnover rate8

     24      31     47      23      15

 

1 

The information reflects the investment objective and strategy of the WisdomTree International Dividend ex-Financials Fund through January 17, 2022 and the investment objective and strategy of the WisdomTree International AI Enhanced Value Fund thereafter.

 

2 

Based on average shares outstanding.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

5 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been unchanged.

 

6 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

7 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

8 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

9 

The increase in the portfolio turnover rate was primarily a result of the change in investment objective and strategy on January 18, 2022.

 

10 

On January 7, 2022, Voya Investment Management Co., LLC replaced Mellon Investments Corporation as sub-advisor to the Fund.

 

11 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.48%.

 

See Notes to Financial Statements.

 

WisdomTree Trust      97  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International High
Dividend Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 39.93      $ 39.29      $ 29.53      $ 40.30      $ 43.25  

Investment operations:

              

Net investment income1

     2.11        1.90        1.54        1.65        1.78  

Net realized and unrealized gain (loss)

     (2.37      0.63        9.73        (10.75      (2.89

Total from investment operations

     (0.26      2.53        11.27        (9.10      (1.11

Dividends to shareholders:

              

Net investment income

     (2.11      (1.89      (1.51      (1.67      (1.84

Net asset value, end of year

   $ 37.56      $ 39.93      $ 39.29      $ 29.53      $ 40.30  

TOTAL RETURN2

     0.01      6.61      38.88      (23.48 )%       (2.53 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 413,187      $ 201,634      $ 182,685      $ 174,236      $ 251,852  

Ratios to average net assets3 of:

              

Expenses4

     0.58 %5       0.59 %6       0.58      0.58      0.58

Net investment income

     5.89      4.80      4.43      4.18      4.32

Portfolio turnover rate7

     36      40      57      34      24

 

WisdomTree International
LargeCap Dividend Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 48.95      $ 47.34      $ 36.81      $ 46.37      $ 49.48  

Investment operations:

              

Net investment income1

     1.94        1.79        1.42        1.56        1.81  

Net realized and unrealized gain (loss)

     (2.23      1.63        10.55        (9.52      (3.09

Total from investment operations

     (0.29      3.42        11.97        (7.96      (1.28

Dividends to shareholders:

              

Net investment income

     (2.04      (1.81      (1.44      (1.60      (1.83

Net asset value, end of year

   $ 46.62      $ 48.95      $ 47.34      $ 36.81      $ 46.37  

TOTAL RETURN2

     (0.05 )%       7.27      32.91      (17.78 )%       (2.55 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 491,834      $ 381,807      $ 352,717      $ 327,622      $ 389,510  

Ratios to average net assets3 of:

              

Expenses4

     0.49 %8       0.49 %8       0.48      0.48      0.48

Net investment income

     4.43      3.63      3.33      3.38      3.83

Portfolio turnover rate7

     23      30      38      14      14

 

1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

4 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

5 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been unchanged.

 

6 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

7 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

8 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.48%.

 

See Notes to Financial Statements.

 

98   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International MidCap Dividend
Fund
   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 64.69     $ 67.16     $ 47.06     $ 61.98     $ 68.12  

Investment operations:

          

Net investment income1

     2.31       2.54       1.51       2.03       2.00  

Net realized and unrealized gain (loss)

     (6.20     (2.53     20.12       (14.87     (6.17

Total from investment operations

     (3.89     0.01       21.63       (12.84     (4.17

Dividends to shareholders:

          

Net investment income

     (2.54     (2.48     (1.53     (2.08     (1.97

Net asset value, end of year

   $ 58.26     $ 64.69     $ 67.16     $ 47.06     $ 61.98  

TOTAL RETURN2

     (5.68 )%      (0.13 )%      46.54     (21.43 )%      (6.16 )% 

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 128,175     $ 135,853     $ 144,404     $ 169,413     $ 278,924  

Ratios to average net assets of:

          

Expenses

     0.59 %3      0.59 %3      0.58     0.58     0.58 %4,5 

Net investment income

     4.10     3.75     2.63     3.30     3.12 %4 

Portfolio turnover rate6

     39     44     62     33     28

 

WisdomTree International Multifactor Fund    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the Period
August 10, 2018*
through
March 31, 2019
 

Net asset value, beginning of period

   $ 25.30     $ 25.43     $ 20.88     $ 24.72     $ 24.75  

Investment operations:

          

Net investment income1

     0.95       0.79       0.59       0.75       0.55  

Net realized and unrealized gain (loss)

     (0.33     0.007       4.53       (3.88     (0.27

Total from investment operations

     0.62       0.79       5.12       (3.13     0.28  

Dividends to shareholders:

          

Net investment income

     (0.92     (0.92     (0.57     (0.71     (0.31

Net asset value, end of period

   $ 25.00     $ 25.30     $ 25.43     $ 20.88     $ 24.72  

TOTAL RETURN2

     2.76     3.03     24.70     (13.08 )%      1.18

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 39,996     $ 32,886     $ 38,138     $ 33,408     $ 19,778  

Ratios to average net assets of:

          

Expenses

     0.39 %8      0.39 %8      0.38     0.38 %4,5      0.38 %9 

Net investment income

     3.98     3.01     2.47     3.04 %4      3.61 %9 

Portfolio turnover rate6

     118     105     123     132     114

 

*

Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

 

1

Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

4

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

5

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

6

Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

7

Amount represents less than $0.005.

 

8

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.38%.

 

9

Annualized.

 

See Notes to Financial Statements.

 

WisdomTree Trust      99  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International Quality
Dividend Growth Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Period Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 36.82      $ 36.95      $ 25.87      $ 28.62      $ 30.50  

Investment operations:

              

Net investment income1

     1.06        1.22        0.91        0.70        0.58  

Net realized and unrealized gain (loss)

     (3.03      (0.27 )2       10.98        (2.77      (1.95

Total from investment operations

     (1.97      0.95        11.89        (2.07      (1.37

Dividends to shareholders:

              

Net investment income

     (1.13      (1.08      (0.81      (0.68      (0.51

Net asset value, end of year

   $ 33.72      $ 36.82      $ 36.95      $ 25.87      $ 28.62  

TOTAL RETURN3

     (4.85 )%       2.46      46.22      (7.43 )%       (4.43 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 665,916      $ 373,740      $ 190,307      $ 68,551      $ 71,541  

Ratios to average net assets of:

              

Expenses, net of expense waivers

     0.43 %4       0.42      0.41 %5       0.38 %6       0.38 %6 

Expenses, prior to expense waivers

     0.43 %4       0.42      0.44      0.48      0.48

Net investment income

     3.38      3.16      2.73      2.38      2.05

Portfolio turnover rate7

     48      63      66      51      55

 

WisdomTree International
SmallCap Dividend Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 69.29      $ 72.16      $ 48.29      $ 65.74      $ 75.80  

Investment operations:

              

Net investment income1

     2.91        2.27        1.55        2.36        2.19  

Net realized and unrealized gain (loss)

     (8.19      (2.72      23.97        (17.32      (10.01

Total from investment operations

     (5.28      (0.45      25.52        (14.96      (7.82

Dividends to shareholders:

              

Net investment income

     (3.26      (2.42      (1.65      (2.49      (2.24

Net asset value, end of year

   $ 60.75      $ 69.29      $ 72.16      $ 48.29      $ 65.74  

TOTAL RETURN3

     (7.23 )%       (0.79 )%       53.46      (23.58 )%       (10.41 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 1,193,793      $ 1,330,363      $ 1,403,518      $ 1,161,439      $ 1,673,095  

Ratios to average net assets8 of:

              

Expenses9

     0.60 %10       0.61 %10       0.58      0.58      0.58

Net investment income

     4.87      3.08      2.54      3.63      3.15

Portfolio turnover rate7

     51      55      74      50      35

 

1 

Based on average shares outstanding.

 

2

The amount of net realized and unrealized loss per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

3

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.42%.

 

5

The investment advisor had contractually agreed to limit the advisory fee to 0.38% through July 31, 2020. On July 31, 2020, the contractual waiver expired and the advisory fee was permanently reduced to 0.42%.

 

6

Effective April 7, 2016, the investment advisor contractually agreed to limit the advisory fee to 0.38% through July 31, 2020, unless earlier terminated by the Board of Trustees of the Trust.

 

7

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

8

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

9 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

10 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

See Notes to Financial Statements.

 

100   WisdomTree Trust


Financial Highlights (concluded)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Japan SmallCap Dividend Fund    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 66.61     $ 76.06     $ 58.64     $ 68.10     $ 80.93  

Investment operations:

          

Net investment income1

     1.58       1.71       1.17       1.14       1.00  

Net realized and unrealized gain (loss)

     0.61 2      (9.68     18.13       (8.95     (12.61

Total from investment operations

     2.19       (7.97     19.30       (7.81     (11.61

Dividends to shareholders:

          

Net investment income

     (2.44     (1.48     (1.88     (1.65     (1.22

Net asset value, end of year

   $ 66.36     $ 66.61     $ 76.06     $ 58.64     $ 68.10  

TOTAL RETURN3

     3.62     (10.62 )%      33.27     (11.85 )%      (14.38 )% 

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 182,497     $ 213,148     $ 190,141     $ 237,503     $ 616,294  

Ratios to average net assets4 of:

          

Expenses5

     0.58     0.58     0.58     0.58     0.58

Net investment income

     2.56     2.34     1.73     1.67     1.35

Portfolio turnover rate6

     26     36     43     38     42

 

1 

Based on average shares outstanding.

 

2 

The amount of net realized and unrealized gain per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

5 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

6 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

See Notes to Financial Statements.

 

WisdomTree Trust      101  


Notes to Financial Statements

 

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust on December 15, 2005 and is authorized to have multiple series of portfolios (each a “Fund”, collectively, the “Funds”). These notes relate only to the Funds listed below. In accordance with Accounting Standards Codification Topic 946, Financial Services-Investment Companies, each Fund listed below qualifies as an investment company and is applying the accounting and reporting guidance for investment companies.

 

   
Fund    Commencement
of Operations
 

WisdomTree Europe Quality Dividend Growth Fund (“Europe Quality Dividend Growth Fund”)

     May 7, 2014  

WisdomTree Europe SmallCap Dividend Fund (“Europe SmallCap Dividend Fund”)

     June 16, 2006  

WisdomTree International AI Enhanced Value Fund (“International AI Enhanced Value Fund”)

     June 16, 2006  

WisdomTree International Equity Fund (“International Equity Fund”)

     June 16, 2006  

WisdomTree International High Dividend Fund (“International High Dividend Fund”)

     June 16, 2006  

WisdomTree International LargeCap Dividend Fund (“International LargeCap Dividend Fund”)

     June 16, 2006  

WisdomTree International MidCap Dividend Fund (“International MidCap Dividend Fund”)

     June 16, 2006  

WisdomTree International Multifactor Fund (“International Multifactor Fund”)

     August 10, 2018  

WisdomTree International Quality Dividend Growth Fund (“International Quality Dividend Growth Fund”)

     April 7, 2016  

WisdomTree International SmallCap Dividend Fund (“International SmallCap Dividend Fund”)

     June 16, 2006  

WisdomTree Japan SmallCap Dividend Fund (“Japan SmallCap Dividend Fund”)

     June 16, 2006  

Each Fund, except for the International AI Enhanced Value Fund and International Multifactor Fund, seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree, Inc. (“WisdomTree”) or an Index developed by a third party. The International AI Enhanced Value Fund is actively managed using a model-based approach seeking income and capital appreciation. The International Multifactor Fund is actively managed using a model-based approach seeking capital appreciation. WisdomTree is the parent company of WisdomTree Asset Management, Inc. (“WTAM”), the investment adviser to each Fund and the Trust. “WisdomTree” is a registered trademark of WisdomTree and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act.

In the normal course of business, the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and believe such exposure to be remote.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants.

The following is a summary of significant accounting policies followed by the Funds:

Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.

Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g., broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last sale price

 

102   WisdomTree Trust


Notes to Financial Statements (continued)

 

or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Foreign currency contracts that settle within two business days after the trade date (“Spot Contracts”) and foreign currency contracts having a settlement period greater than two business days after the trade date (“Forward Contracts”) are valued daily using WM/Reuters closing spot and forward rates, respectively, as of 4:00 p.m. London time. Futures contracts generally are valued at the settlement price, the price at which a futures contract settles once a given trading day has ended, on the primary exchange on which they trade.

Pursuant to Board-approved valuation procedures established by the Trust and WTAM, the Board has appointed WTAM as the Funds’ valuation designee (the “Valuation Designee”) to perform all fair valuations of the Funds’ portfolio investments, subject to the Board’s oversight. As the Valuation Designee, WTAM has established procedures for its fair valuation of a Fund’s portfolio investments. These procedures address, among other things, determining when market quotations are not readily available or reliable and the methodologies to be used for determining the fair value of investments, as well as the use and oversight of third-party pricing services for fair valuation. The Valuation Designee is comprised of senior representatives of WTAM and reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from the exchange or system on which it is principally traded, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Valuation Designee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.

Fair Value Measurement — In accordance with Codification Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Valuation Designee will perform other procedures (consistent with GAAP) to value an investment when a market quote is not available. ASC 820 established a three-tier hierarchy of inputs to be used when determining fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk — for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

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 each Fund’s assumptions in determining the fair value of investments)

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended (either due to events affecting the issuer of the security specifically or events affecting the primary trading exchange more broadly) or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation or market activity; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets in which the security is traded but before the time as of which a Fund’s NAV is computed and that may materially affect the value of the Fund’s investments).

The valuation techniques and significant inputs used in determining the fair market value measurements for Level 2 and Level 3 positions are as follows:

Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent

 

WisdomTree Trust      103  


Notes to Financial Statements (continued)

 

pricing service providers’ internal pricing models may use inputs that are observable such as issuer details (e.g., credit rating, debt ranking, coupon date, maturity date, etc.), interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate. Over-the-counter financial derivative instruments derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These instruments are normally valued on the basis of broker-dealer quotations or prices obtained from independent pricing service providers. Depending on the product and the terms of the transaction, the value of the financial derivative instruments can be estimated by an independent pricing service provider using a series of techniques including simulation pricing models. The pricing models may use inputs that are observed from actively quoted markets such as issuer details, indices, credit risks/spreads, interest rates, yield curves, default and exchange rates. Derivative contracts that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate.

Determination of a fair value by the Valuation Designee may include significant unobservable inputs and therefore such financial instruments would be reflected as a Level 3 of the fair value hierarchy. The Valuation Designee may employ a market-based valuation approach which may use, among other potential considerations, related or comparable securities, recent transactions, market multiples, and other relevant information to determine fair value. The Valuation Designee may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value.

The summary of fair valuations according to the inputs used in valuing each Fund’s assets as of the measurement date is included in a “Fair Valuation Summary” supplementary table in each applicable Fund’s Schedule of Investments.

During the fiscal year ended March 31, 2023, there were no significant transfers into or out of Level 3 of the fair value hierarchy.

Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts as well as gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in derivatives, specifically foreign currency contracts during the fiscal year ended March 31, 2023 and open positions in such derivatives as of March 31, 2023 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to credit risk. Risks may arise upon entering into foreign currency contracts from potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar or each other. Any collateral posted (or received) with respect to the derivative positions would be used to offset or reduce the payment due to (or due from) a counterparty in the event of default. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of March 31, 2023, if any, is reflected as a footnote within each Fund’s Schedule of Investments and/or in “Deposits at broker” in the Statements of Assets and Liabilities. The Funds’ maximum credit risk exposure to derivatives agreements would be the total value of derivatives disclosed in the table included in Note 2 — Master Netting Arrangements under the column entitled “Assets: Net Amount”.

As of March 31, 2023, the effects of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are presented in the summary below:

 

     
     Asset Derivatives      Liability Derivatives  
Fund    Balance Sheet Location    Value      Balance Sheet Location    Value  

Europe SmallCap Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
   $      Unrealized depreciation on
foreign currency contracts
   $ 573  

International AI Enhanced Value Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     115      Unrealized depreciation on
foreign currency contracts
     2  

International High Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
          Unrealized depreciation on
foreign currency contracts
     166  

International MidCap Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
          Unrealized depreciation on
foreign currency contracts
     102  

International Multifactor Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     78,482      Unrealized depreciation on
foreign currency contracts
     322,269  

International SmallCap Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     402      Unrealized depreciation on
foreign currency contracts
     411  

 

104   WisdomTree Trust


Notes to Financial Statements (continued)

 

For the fiscal year ended March 31, 2023, the effects of derivative instruments on each applicable Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

     
Fund    Amount of Realized Gain
or (Loss) on Derivatives
Recognized1
     Change in Unrealized
Appreciation or
(Depreciation) on
Derivatives Recognized2
 

Europe Quality Dividend Growth Fund

     

Foreign currency risk

   $ 22,765      $  

Europe SmallCap Dividend Fund

     

Equity risk

     142,602         

Foreign currency risk

     (223,189      1,282  

International AI Enhanced Value Fund

     

Foreign currency risk

     35,264        763  

International Equity Fund

     

Foreign currency risk

     (170,663      (10

International High Dividend Fund

     

Foreign currency risk

     (44,148      (41

International LargeCap Dividend Fund

     

Foreign currency risk

     (90,229       

International MidCap Dividend Fund

     

Foreign currency risk

     5,958        (102

International Multifactor Fund

     

Equity risk

     1,984         

Foreign currency risk

     1,644,187        (307,966

International Quality Dividend Growth Fund

     

Foreign currency risk

     (76,738       

International SmallCap Dividend Fund

     

Foreign currency risk

     (1,380,678      (1,718

Japan SmallCap Dividend Fund

     

Foreign currency risk

     846        704  

 

  1 

Realized gains (losses) on derivatives are located on the Statements of Operations as follows:

 

Foreign currency risk

   Net realized gain (loss) from foreign currency contracts

Equity risk

   Net realized gain (loss) from futures contracts

 

  2 

Change in unrealized appreciation (depreciation) is located on the Statements of Operations as follows:

 

Foreign currency risk

   Net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts

During the fiscal year ended March 31, 2023, the volume of derivative activity (based on the average of month-end balances, except where footnoted) for each Fund was as follows:

 

   
     Average Notional  
Fund    Foreign currency
contracts
(to deliver
USD)
     Foreign currency
contracts
(to receive
USD)
     Futures
contracts
(long)
 

Europe Quality Dividend Growth Fund

        

Foreign currency risk1

   $      $ 6,721      $  

Europe SmallCap Dividend Fund

        

Equity risk1

                   262,820  

Foreign currency risk

     78,108        420,355         

International AI Enhanced Value Fund

        

Foreign currency risk

     129,598        195,524         

International Equity Fund

        

Foreign currency risk1

     118,846        13,936         

International High Dividend Fund

        

Foreign currency risk

     213,712        50,256         

 

WisdomTree Trust      105  


Notes to Financial Statements (continued)

 

   
     Average Notional  
Fund    Foreign currency
contracts
(to deliver
USD)
     Foreign currency
contracts
(to receive
USD)
     Futures
contracts
(long)
 

International LargeCap Dividend Fund

        

Foreign currency risk1

   $ 56,118      $ 21,257      $  

International MidCap Dividend Fund

        

Foreign currency risk

     13,316        15,956         

International Multifactor Fund

        

Equity risk1

                   45,769  

Foreign currency risk

     4,041,201        22,237,029         

International Quality Dividend Growth Fund

        

Foreign currency risk1

     15,107        63,762         

International SmallCap Dividend Fund

        

Foreign currency risk

     39,455        989,632         

Japan SmallCap Dividend Fund

        

Foreign currency risk1

            39,521         
  1 

The volume of derivative activity for the period is based on intra-month balances.

Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income (less foreign taxes withheld, if any) is recognized on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. Non-cash dividend income is recognized on the ex-dividend date, or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined, at the fair value of securities to be received. On each measurement date, the Funds evaluate the collectability of receivable balances. Generally, the Funds will write-off dividend receivable balances that are canceled by the issuer as of the date that the dividend receivable cancellation notification was publicly made available or when it becomes probable that dividends will not be collected and the amount of uncollectable dividends can be reasonably estimated. Income earned from securities lending activities (i.e., securities lending income), net of fees payable to the securities borrower and/or securities lending agent, is accrued daily.

Foreign Taxes — The Funds may be subject to foreign taxes (a portion of which may be reclaimable or refundable) on foreign income or capital gains on investment transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and tax rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are accrued and applied to foreign income as the foreign income is earned and are reflected in the Statements of Operations as follows: foreign taxes withheld on dividends are presented as a reduction to investment income in “Less: Foreign withholding taxes on dividends”, foreign taxes on capital gains from investment transactions, if any, are included in “Net realized gain (loss) from investment transactions”, and deferred foreign taxes on net unrealized appreciation on investments, if any, are included in “Net increase (decrease) in unrealized appreciation/depreciation on investment transactions”. Foreign taxes payable or deferred as of March 31, 2023, if any, are disclosed in the Statements of Assets and Liabilities in “Payables: Foreign capital gains tax”.

In certain foreign jurisdictions, when the Funds incur subsequent capital losses on investment transactions that occurred during the tax year in the applicable foreign jurisdiction, the Funds may be entitled to a refund on any foreign taxes paid on previous capital gain investment transactions that occurred during the tax year of the applicable foreign jurisdiction. Foreign capital gain tax refunds on investment transactions are included in “Net realized gain (loss) from investment transactions” on the Statements of Operations and foreign capital gain tax refunds that remain unpaid as of March 31, 2023, if any, is disclosed in the Statements of Assets and Liabilities in “Receivables: Foreign capital gains tax refund”.

The Funds file foreign tax reclaims in certain foreign jurisdictions to recover a portion of amounts previously withheld on dividend income if the tax reclaim is “more likely than not” to be sustained assuming examination by tax authorities. This determination is based on, among other things, a jurisdiction’s legal obligation to pay reclaims as well as payment history and market convention. Foreign tax reclaims recorded relating to current fiscal year investment income are included in the Statements of Operations as a reduction to the balance shown for “Foreign withholding taxes on dividends” and foreign tax reclaims recorded, but not yet received as of March 31, 2023, if any, are shown on the Statements of Assets and Liabilities in “Receivables: Foreign tax reclaims”.

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates prevailing on the respective dates of such transactions that are deemed appropriate by WTAM. Realized and unrealized foreign exchange gains and losses on investments are included as a component of “net realized gain (loss) from investment transactions” and “net increase (decrease) in unrealized appreciation/depreciation from investment transactions”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses from foreign currency contracts are included in “net realized gain (loss) from foreign currency contracts” and “net increase (decrease) in unrealized appreciation/depreciation from foreign

 

106   WisdomTree Trust


Notes to Financial Statements (continued)

 

currency contracts”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies, currency gains or losses recognized between the trade and settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in “net realized gain (loss) from foreign currency related transactions” and/or “net increase (decrease) in unrealized appreciation/depreciation from translation of assets and liabilities denominated in foreign currencies” in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.

Expenses — Under the investment advisory agreement for each Fund, except for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of trustees who are not interested persons of the Funds (“Independent Trustees”); (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s Chief Compliance Officer (“CCO”); (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

Under the investment advisory agreement for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other fees, charges, taxes, levies or expenses (such as stamp taxes) incurred in connection with the execution of portfolio transactions or in connection with creation and redemption transactions (including without limitation any fees, charges, taxes, levies or expenses related to the purchase or sale of an amount of any currency, or the patriation or repatriation of any security or other asset, related to the execution of portfolio transactions or any creation or redemption transactions); (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s CCO; (vi) extraordinary expenses (in each case as determined by a majority of the Independent Trustees); (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; (viii) interest and taxes of any kind or nature (including, but not limited to, income, excise, transfer and withholding taxes); (ix) fees and expenses related to the provision of securities lending services; and (x) the advisory fee payable to WTAM.

Acquired fund fees and expenses (“AFFEs”) (which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies) are not operating expenses of the Funds and are not paid by WTAM.

Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees. WTAM receives a fee, as shown on the Statements of Operations under “Service fees”, of up to 0.0044% per annum of each Fund’s average daily net assets for providing such services and paying such expenses. WTAM provides CCO services to the Trust.

Foreign Currency Contracts — The Funds may enter into foreign currency contracts to facilitate local securities settlements or to protect against currency exposure. The Funds, other than the International Multifactor Fund, do not expect to engage in currency transactions for the purpose of hedging against currency exposures of the Fund’s assets that are denominated in one or more foreign currencies. The Funds may not enter into such contracts for speculative purposes. During the fiscal year ended March 31, 2023, the Funds, except for the International Multifactor Fund, utilized foreign currency contracts primarily to facilitate foreign security settlements. The International Multifactor Fund utilized foreign currency contracts primarily to offset applicable international currency exposure from certain positions in international equities. A foreign currency contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A foreign currency contract generally does not require an initial margin deposit and no commissions are charged at any stage for trades.

Risks may arise upon entering into foreign currency contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar or each other.

Fluctuations in the value of open foreign currency contracts are recorded for book purposes as unrealized gains or losses on foreign currency contracts by the Funds and are included in “net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts” on the Statements of Operations. Realized gains and losses on foreign currency contracts include net gains or losses recognized by the Funds on contracts which have settled are included in “net realized gain (loss) from foreign currency contracts on the Statements of Operations.

Futures Contracts — The Europe SmallCap Dividend Fund and International Multifactor Fund each utilized equity futures contracts on a temporary basis during the fiscal year to obtain market exposure consistent with its investment objective during each Fund’s periodic portfolio rebalance. When a Fund purchases a listed futures contract, it agrees to purchase a specified reference asset

 

WisdomTree Trust      107  


Notes to Financial Statements (continued)

 

(e.g., commodity, currency, equity, digital asset or U.S. Treasury security, collectively herein, “Reference Asset”) at a specified future date. When a Fund sells a listed futures contract, it agrees to sell a specified Reference asset at a future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. A Fund may also cash settle upon the expiration date of a futures contract in which no physical delivery (or receipt) of the specified Reference Asset comprising the futures contract is made. Instead, settlement in cash would occur upon the expiration of the contract, with the cash settlement being the difference between the contract price and the actual price of the specified Reference Asset at the expiration date. The exchange clearing corporation is the ultimate counterparty for all exchange-listed contracts, so credit risk is limited to the creditworthiness of the exchange clearing corporation.

Upon entering into a futures contract, a Fund is required to deliver to a broker an amount of cash and/or U.S. government securities equal to a certain percentage of the contract amount. This amount is known as the “initial margin”. Cash deposited as initial margin, if any, is shown as “Deposits at broker” in the Statement of Assets and Liabilities, and U.S. government securities deposited, if any, are designated in the Schedule of Investments. Subsequent payments, known as “variation margin”, generally are made or received by the Fund each day or at other agreed-upon time periods depending on the fluctuations in the value of the underlying futures contracts, except that in the case of certain futures contracts, variation margin payments may be made or received when the futures contract expires. Variation margin is recorded for financial statement purposes on a daily basis as an unrealized gain or loss on futures until the financial futures contract is closed, at which time the unrealized net gain or loss is reclassified to realized gain or loss on futures. Prior to August 19, 2022, when a Fund purchased or sold a futures contract, the Fund was required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, a Fund would segregate assets consisting of, or take other measures with respect to, cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, would “cover” its position in a manner consistent with the 1940 Act or the rules and SEC interpretations thereunder. This functioned as a practical limit on the amount of leverage which a Fund could undertake and on the potential increase in the speculative character of a Fund’s outstanding portfolio securities. Effective August 19, 2022, the Funds have adopted a derivatives risk management program to manage the Funds’ derivatives risk. Please see Note 7 “Recent Regulatory Update” for information on new regulations governing the use of derivatives by the Funds.

As of March 31, 2023, there were no open futures contracts in the Funds.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or securities issued or guaranteed by the U.S. government or its agencies, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower (net of any fee rebates paid to the borrower). The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The net securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend income earned on the securities loaned is accounted for in the same manner as other dividend income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

Master Netting Arrangements — Codification Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

 

108   WisdomTree Trust


Notes to Financial Statements (continued)

 

In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund enters into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter derivatives (“OTC”), such as foreign currency contracts, and typically contains, among other things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.

Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g., foreign currency contracts, options and certain swaps). To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from a counterparty’s non-performance.

The Funds’ securities lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower. However, in the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2023, the impact of netting of assets and liabilities and the offsetting of collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending Agreement are detailed in the following table:

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
         

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
       
Fund   Financial
Instruments
    Collateral
Received
    Net Amount     Financial
Instruments
    Collateral
Posted
    Net Amount  

Europe Quality Dividend Growth Fund

               

Securities Lending

  $ 1,436,515     $     $ (1,436,515 )1    $     $     $     $     $  

Europe SmallCap Dividend Fund

               

Securities Lending

    34,250,422             (34,250,422 )1                               

Foreign Currency Contracts

                            573                   573  

International AI Enhanced Value Fund

               

Securities Lending

    5,165,534             (5,165,534 )1                               

Foreign Currency Contracts

    115       (2           113       2       (2            

International Equity Fund

               

Securities Lending

    62,266,565             (62,266,565 )1                               

International High Dividend Fund

               

Securities Lending

    55,711,563             (55,711,563 )1                               

Foreign Currency Contracts

                            166                   166  

International LargeCap Dividend Fund

               

Securities Lending

    46,880,996             (46,880,996 )1                               

International MidCap Dividend Fund

               

Securities Lending

    23,398,066             (23,398,066 )1                               

Foreign Currency Contracts

                            102                   102  

 

WisdomTree Trust      109  


Notes to Financial Statements (continued)

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
         

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
       
Fund   Financial
Instruments
    Collateral
Received
    Net Amount     Financial
Instruments
    Collateral
Posted
    Net Amount  

International Multifactor Fund

               

Securities Lending

  $ 4,180,156     $     $ (4,180,156 )1    $     $     $     $     $  

Foreign Currency Contracts

    78,482       (75,882           2,600       322,269       (75,882           246,387  

International Quality Dividend Growth Fund

               

Securities Lending

    30,557,656             (30,557,656 )1                               

International SmallCap Dividend Fund

               

Securities Lending

    199,039,176             (199,039,176 )1                               

Foreign Currency Contracts

    402       (12           390       411       (12           399  

Japan SmallCap Dividend Fund

               

Securities Lending

    53,017,527             (53,017,527 )1                               
  1

The amount of collateral presented has been limited such that the net amount by counterparty cannot be less than zero.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded to RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains is determined in accordance with the requirements of the Code and the U.S. Treasury regulations (i.e., tax basis) which may differ to amounts determined under GAAP (i.e., book basis). These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (“Mellon”) to provide sub-advisory services to the Funds, except for the International AI Enhanced Value Fund. Prior to January 7, 2022, sub-advisory services for the International AI Enhanced Value Fund were provided by Mellon and thereafter by Voya IM. Mellon and Voya IM are compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

 

110   WisdomTree Trust


Notes to Financial Statements (continued)

 

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

WTAM expects to receive annual advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:

 

   
Fund   

Advisory

Fee Rate

 

Europe Quality Dividend Growth Fund

     0.58

Europe SmallCap Dividend Fund

     0.58

International AI Enhanced Value Fund

     0.58

International Equity Fund

     0.48

International High Dividend Fund

     0.58

International LargeCap Dividend Fund

     0.48

International MidCap Dividend Fund

     0.58

International Multifactor Fund

     0.38

International Quality Dividend Growth Fund

     0.42

International SmallCap Dividend Fund

     0.58

Japan SmallCap Dividend Fund

     0.58

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Transactions in shares of affiliated ETFs for the fiscal year ended March 31, 2023, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM voluntarily waives a portion of the advisory fees that it would otherwise charge, for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (e.g., fund accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are included in the Statement of Operations in “Expense waivers”.

During the fiscal year ended March 31, 2023, certain Funds engaged in purchase and sale transactions with funds that have a common investment adviser, WTAM. These interfund purchase and sale transactions were effected in accordance with Rule 17a-7 under the 1940 Act. For the fiscal year ended March 31, 2023, the cost of purchases, proceeds from sales and the net realized gain or loss recognized upon the disposal of securities resulting from interfund transactions are shown in the following table:

 

       
Fund    Purchases      Sales      Net Realized Loss  

Europe Quality Dividend Growth Fund

   $ 10,082,331      $ 5,745,069      $ (2,045,567

Europe SmallCap Dividend Fund

     4,742,361        6,441,746        (1,678,472

International Equity Fund

     20,246,303        15,532,970        (3,480,553

International High Dividend Fund

     10,087,910        12,174,977        (754,023

International LargeCap Dividend Fund

     19,466,788        11,162,811        (1,858,786

International MidCap Dividend Fund

     7,910,858        10,002,547        (2,248,749

International Quality Dividend Growth Fund

     15,637,277        16,649,637        (8,076,323

International SmallCap Dividend Fund

     24,896,146        25,049,476        (7,320,373

Japan SmallCap Dividend Fund

     6,046,883        3,726,292        (2,070,212

 

WisdomTree Trust      111  


Notes to Financial Statements (continued)

 

WTAM and/or WisdomTree (collectively herein, “WT”) may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2023, WT held shares of and received distributions from the following Funds, which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

 

     
     At March 31, 2023      For the Fiscal Year Ended
March 31, 2023
 
Fund    Fund Shares
held by WT
     Market Value of
Fund Shares
held by WT
     Dividends and
Distributions paid to
WT on
Fund Shares
held by WT
 

Europe Quality Dividend Growth Fund

          $      $ 41  

International Equity Fund

     84        4,177        185  

International Multifactor Fund

     402        10,069        366  

International Quality Dividend Growth Fund

     340        11,516        378  

International SmallCap Dividend Fund

     544        33,151        1,637  

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2023, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof to an authorized participant (“AP”). Except when aggregated in creation units (“Creation Unit Aggregations”), shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities (“Deposit Securities”) and/or an amount of cash (“Cash Component”). Creation Unit Aggregations may be created in advance of receipt by a Fund of all or a portion of the applicable Deposit Securities from APs. In these circumstances, the initial deposit received from the AP will have a value greater than the NAV of the applicable Fund’s shares on the date the order is placed in proper form since, in addition to available Deposit Securities, U.S. cash must be deposited by the AP in an amount equal to the sum of (i) the Cash Component, plus (ii) generally between 102%-110%, as directed by the Trust or WTAM, which the Trust or WTAM may change from time to time, of the market value of the undelivered Deposit Securities (the “Additional Cash Deposit”) with the Fund pending delivery of any missing Deposit Securities. The Fund will return any unused portion of the Additional Cash Deposit once all of the missing Deposit Securities have been properly received from the AP or purchased by the Fund. Amounts due to be returned to an AP as of March 31, 2023, if any, is shown in the Statements of Assets and Liabilities in “Payables: Deposit due to authorized participant”. APs purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year ended March 31, 2023 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

Europe Quality Dividend Growth Fund

   $ 27,331,297      $ 27,265,919      $ 18,371,901      $ 16,566,062  

Europe SmallCap Dividend Fund

     104,574,950        103,980,884        50,643,394        47,080,795  

International AI Enhanced Value Fund

     128,382,574        128,961,524               36,079,266  

International Equity Fund

     138,769,670        139,647,616        39,903,296        55,842,600  

International High Dividend Fund

     99,999,987        89,370,828        200,572,409         

International LargeCap Dividend Fund

     105,747,315        93,020,388        97,301,739         

International MidCap Dividend Fund

     48,676,204        48,216,933        10,204,448        4,993,761  

International Multifactor Fund

     41,649,722        39,374,869        8,957,802        2,447,447  

International Quality Dividend Growth Fund

     214,931,918        190,832,644        305,339,672        30,357,290  

International SmallCap Dividend Fund

     593,181,511        590,807,533        35,381,403        8,672,055  

Japan SmallCap Dividend Fund

     46,918,577        49,025,149        15,490,476        42,192,402  

 

112   WisdomTree Trust


Notes to Financial Statements (continued)

 

6. FEDERAL INCOME TAXES

At March 31, 2023, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:

 

         
    Investments in Long Securities           Investments in Financial Derivatives1        
Fund   Tax Cost    

Gross

Unrealized
Appreciation

   

Gross

Unrealized
Depreciation

   

Net Unrealized
Appreciation/

(Depreciation)

          

Gross

Unrealized
Appreciation

    Gross
Unrealized
Depreciation
    Net Unrealized
Appreciation/
(Depreciation)
   

Total Net
Unrealized
Appreciation/

(Depreciation)

 

Europe Quality Dividend Growth Fund

  $ 63,244,937     $ 8,655,131     $ (1,987,655   $ 6,667,476             $     $     $     $ 6,667,476  

Europe SmallCap Dividend Fund

    277,240,487       28,684,071       (28,597,145     86,926                     (573     (573     86,353  

International AI Enhanced Value Fund

    83,158,680       2,842,176       (5,903,475     (3,061,299             115       (2     113       (3,061,186

International Equity Fund

    531,956,270       101,092,349       (23,524,732     77,567,617                                 77,567,617  

International High Dividend Fund

    422,183,013       38,041,457       (12,394,254     25,647,203                     (166     (166     25,647,037  

International LargeCap Dividend Fund

    442,270,445       91,017,920       (10,794,563     80,223,357                                 80,223,357  

International MidCap Dividend Fund

    137,740,129       14,100,579       (11,011,890     3,088,689                     (102     (102     3,088,587  

International Multifactor Fund

    39,765,354       3,269,261       (947,081     2,322,180               1,491       (14,437     (12,946     2,309,234  

International Quality Dividend Growth Fund

    627,883,075       73,239,095       (14,224,780     59,014,315                                 59,014,315  

International SmallCap Dividend Fund

    1,295,774,266       140,918,191       (131,680,077     9,238,114               402       (411     (9     9,238,105  

Japan SmallCap Dividend Fund

    223,589,062       12,175,150       (30,149,194     (17,974,044                               (17,974,044
  1 

Certain financial derivatives may be considered section 1256 contracts under the Code. Each section 1256 contract held at the close of a taxable year shall be treated as sold for its fair market value on the last business day of such taxable year (and any realized gain and loss shall be taken into account for the taxable year). As such, the unrealized appreciation/(depreciation) for financial derivatives on a tax basis may not correspond to the unrealized appreciation/(depreciation) on a GAAP basis. The unrealized appreciation/(depreciation) for financial derivatives on a GAAP basis is located in the respective financial derivatives tables in each Fund’s Schedule of Investments.

At March 31, 2023, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

             
Fund    Undistributed
Ordinary Income
     Undistributed
Capital and Other
Losses
     Net Unrealized
Appreciation/
(Depreciation)
     Currency and
Other Unrealized
Appreciation/
(Depreciation)
     Oher
Temporary
Differences1
     Total Distributable
Earnings (Loss)
 

Europe Quality Dividend Growth Fund

   $ 61,740      $ (14,502,780    $ 6,667,476      $ 8,551      $      $ (7,765,013

Europe SmallCap Dividend Fund

     331,771        (302,648,418      86,926        (125,705      332,132        (302,023,294

International AI Enhanced Value Fund

     696,329        (69,609,091      (3,061,299      7,838               (71,966,223

International Equity Fund

     2,324,866        (198,383,190      77,567,617        47,726               (118,442,981

International High Dividend Fund

     1,477,397        (93,721,865      25,647,203        22,406               (66,574,859

International LargeCap Dividend Fund

     1,232,488        (123,654,738      80,223,357        58,102               (42,140,791

International MidCap Dividend Fund

     1,154,196        (43,522,831      3,088,689        15,142               (39,264,804

International Multifactor Fund

     171,782        (3,951,431      2,322,180        (7,230             (1,464,699

International Quality Dividend Growth Fund

     566,843        (69,342,328      59,014,315        34,284               (9,726,886

International SmallCap Dividend Fund

     6,450,274        (391,046,482      9,238,114        (245,677      531,376        (375,072,395

Japan SmallCap Dividend Fund

     1,290,521        (120,798,265      (17,974,044      (10,353             (137,492,141
  1 

The treatment of certain income/expense items have been recognized for GAAP but disallowed for tax purposes.

 

WisdomTree Trust      113  


Notes to Financial Statements (continued)

 

The tax character of distributions paid during the fiscal years ended March 31, 2023 and March 31, 2022, was as follows:

 

     
     Year Ended March 31, 2023      Year Ended March 31, 2022  
Fund    Distributions Paid from
Ordinary Income*
     Distributions Paid from
Ordinary Income*
 

Europe Quality Dividend Growth Fund

   $ 1,667,670      $ 1,969,811  

Europe SmallCap Dividend Fund

     14,405,217        8,828,002  

International AI Enhanced Value Fund

     4,170,635        7,009,725  

International Equity Fund

     26,843,795        22,558,337  

International High Dividend Fund

     14,557,836        8,671,887  

International LargeCap Dividend Fund

     18,097,424        13,525,175  

International MidCap Dividend Fund

     5,553,560        5,307,913  

International Multifactor Fund

     1,277,796        1,281,800  

International Quality Dividend Growth Fund

     13,540,674        8,948,267  

International SmallCap Dividend Fund

     62,885,580        47,038,894  

Japan SmallCap Dividend Fund

     7,163,312        4,540,106  
  * 

Includes short-term capital gains, if any.

At March 31, 2023, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the following table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders. During the fiscal year ended March 31, 2023, the Funds did not utilize any available capital loss carryforward amounts given that there were no tax-basis capital gains.

 

       
Fund    Short-Term      Long-Term      Capital Loss
Available Total
 

Europe Quality Dividend Growth Fund

   $ 10,049,253      $ 4,453,527      $ 14,502,780  

Europe SmallCap Dividend Fund

     104,776,343        197,872,075        302,648,418  

International AI Enhanced Value Fund

     24,978,648        44,630,443        69,609,091  

International Equity Fund

     41,214,018        157,169,172        198,383,190  

International High Dividend Fund

     14,975,798        78,746,067        93,721,865  

International LargeCap Dividend Fund

     22,610,947        101,043,791        123,654,738  

International MidCap Dividend Fund

     9,902,427        33,620,404        43,522,831  

International Multifactor Fund

     3,951,431               3,951,431  

International Quality Dividend Growth Fund

     57,272,310        12,070,018        69,342,328  

International SmallCap Dividend Fund

     245,594,555        145,451,927        391,046,482  

Japan SmallCap Dividend Fund

     72,730,465        48,067,800        120,798,265  

Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. At March 31, 2023, the Funds did not have any post-October capital losses or late year ordinary losses to defer.

At March 31, 2023, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as shown in the following table. The differences are primarily due to redemptions-in-kind and net operating losses.

 

     
Fund   

Total
Distributable

Earnings (Loss)

     Paid-in Capital  

Europe Quality Dividend Growth Fund

   $ (988,232    $ 988,232  

Europe SmallCap Dividend Fund

     9,886,028        (9,886,028

International AI Enhanced Value Fund

     2,695,600        (2,695,600

International Equity Fund

     (6,534,469      6,534,469  

International High Dividend Fund

             

International LargeCap Dividend Fund

             

International MidCap Dividend Fund

     (223,042      223,042  

International Multifactor Fund

     (465,795      465,795  

International Quality Dividend Growth Fund

     (2,321,266      2,321,266  

International SmallCap Dividend Fund

     603,094        (603,094

Japan SmallCap Dividend Fund

     5,373,688        (5,373,688

 

114   WisdomTree Trust


Notes to Financial Statements (continued)

 

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. As of and during the fiscal year ended March 31, 2023, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years in the four-year period ended March 31, 2023, remains subject to examination by taxing authorities. Specific to foreign countries in which the Funds invest, all open tax years remain subject to examination by taxing authorities in the respective jurisdictions.

As a result of several European Court of Justice (“ECJ”) court cases in certain countries across the European Union (“EU”), certain Funds have filed additional tax reclaims for previously withheld taxes on dividends earned in those countries (“ECJ tax reclaims”). These additional filings are subject to various administrative proceedings by the local jurisdictions’ tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized, if any, for ECJ tax reclaims is reflected as “Other income” in the Statements of Operations and the cost to file these additional ECJ tax reclaims is reflected as “Other fees” in the Statements of Operations. When the ECJ tax reclaim is not “more likely than not” to be sustained assuming examination by tax authorities due to the uncertainty that exists as to the ultimate resolution of these proceedings, the likelihood of receipt of these ECJ tax reclaims, and the potential timing of payment, no amounts are reflected in the financial statements. For U.S. income tax purposes, ECJ tax reclaims received by the Funds, if any, reduce the amounts of foreign taxes Fund shareholders can use as tax credits in their individual income tax returns. In the event that ECJ tax reclaims received by a Fund during the fiscal year exceed foreign withholding taxes paid, and a Fund previously passed foreign tax credits on to its shareholders, a Fund must either amend historic tax reporting to shareholders or enter into a closing agreement with the Internal Revenue Service in order to pay the associated tax liability on behalf of the respective Fund’s shareholders. During the fiscal year ended March 31, 2023, the ECJ tax reclaims received by the Funds did not exceed the foreign withholding taxes of the respective Funds.

7. RECENT REGULATORY UPDATE

Effective August 19, 2022, the Funds have adopted policies and procedures to comply with new regulations issued by the SEC governing the use of derivatives by registered investment companies (“Rule 18f -4”). Rule 18f-4 imposes limits on the amount of derivatives a fund can enter into, eliminates the asset segregation framework used by the Funds prior to August 19, 2022 to comply with Section 18 of the 1940 Act, and requires funds, whose use of derivatives is greater than a limited specified amount, to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager. Rule 18f-4 has not had a material impact on the Funds’ financial statements.

The fair valuation Rule 2a-5 went into effect on September 8, 2022. The Rule sets forth requirements for determining the fair value of portfolio securities and establishes a framework focused on process, testing and oversight. The Rule allows fund boards to designate a valuation designee responsible for performing fair value determinations in good faith. WTAM has been designated as the Valuation Designee for the Funds and is responsible for assessing material risks, establishing fair value methodologies, test ing the appropriateness and accuracy of the methodologies and overseeing third-party pricing vendors. Under the new fair valuation policies, WTAM is responsible for regular quarterly reporting of any material fair valuation matter, annual reporting on the adequacy of the Valuation Designee’s processes, and the prompt notification to the board of any material impact of the fair value process on portfolio investments.

8. RECENT ACCOUNTING PRONOUNCEMENT

In June 2022, the FASB issued Accounting Standards Update No. 2022-03 (“ASU 2022-03”), Fair Value Measurement (Topic 820) — Fair Value Measurement of Equity Securities Subject to Contractual Sales Restrictions. The amendments in ASU 2022-03 clarify that a contractual restriction on a sale of an equity security is not considered a part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in ASU 2022-03 also require the following disclosures for equity securities subject to contractual sale restrictions: (i) the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, (ii) the nature and remaining duration of the restriction(s), and (iii) the circumstances that could cause a lapse in the restriction(s). The amendments in ASU 2022-03 are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years for public business entities (early adoption is also permitted). WTAM has evaluated ASU 2022-03 and determined that the adoption of ASU 2022-03 will not have a significant impact on the Trust’s financial statements and related disclosures.

9. ADDITIONAL INFORMATION

Russia’s military invasion of Ukraine initiated in February 2022 and the economic and diplomatic responses by the United States and

other countries have led to increased volatility and uncertainty in the financial markets and could continue to adversely affect regional and global economies for the foreseeable future. In response to Russia’s actions, the governments of the United States, the

 

WisdomTree Trust      115  


Notes to Financial Statements (concluded)

 

European Union, the United Kingdom, and many other countries collectively imposed heavy and broad-ranging economic sanctions on certain Russian individuals, corporate and banking entities, and other industries and businesses. The sanctions restrict companies from doing business with Russia and Russian companies, prohibit transactions with the Russian central bank and other key Russian financial institutions and entities, ban Russian airlines and ships from using many other countries’ airspace and ports, respectively, and place a freeze on certain Russian assets. The sanctions also removed some Russian banks from the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the electronic network that connects banks globally to facilitate cross-border payments. In addition, the United States has banned oil and other energy imports from Russia, as well as other popular Russian exports, such as diamonds, seafood and vodka. The European Union, the United Kingdom and other countries have also placed restrictions on certain oil, energy and luxury good imports from Russia.

These sanctions, as well as other economic consequences related to the invasion, such as additional sanctions, boycotts, changes in consumer or purchaser preferences, or cyberattacks on governments, companies or individuals, may further decrease the value and liquidity of certain Russian securities as well as securities of issuers in other countries that are subject to or otherwise adversely affected by economic sanctions related to Russia’s invasion of Ukraine, including Russian counter measures. To the extent a Fund has exposure to Russian investments or investments in countries affected by the invasion or the sanctions, the Fund’s ability to price, buy, sell, receive or deliver, or receive dividends and interest payments on such investments may be impaired. In certain circumstances, such as when there is no market for a security or other means of valuing or disposing of a security, a Fund may determine to value the affected security at zero. In addition, any exposure a Fund may have to counterparties in Russia or in countries affected by the invasion could negatively affect the Fund’s portfolio. The extent and duration of Russia’s military actions and the repercussions of such actions are impossible to predict, but could result in continued significant market disruptions, including in the oil and natural gas markets, and may negatively affect global supply chains, inflation and global growth. Further, an escalation of the military conflict beyond Ukraine’s borders could result in significant, long-lasting damage to the economies of Eastern and Western Europe as well as the global economy. These and any related events could significantly and adversely affect a Fund’s performance and the value of an investment in the Fund, even in the absence of direct exposure to Russian issuers or issuers in other countries affected by the invasion.

*    *    *    *    *    *

Financial markets around the world may experience extreme volatility, depressed valuations, decreased liquidity and heightened uncertainty and turmoil resulting from major cybersecurity events, geopolitical events (including wars, such as Russia’s invasion of Ukraine, terror attacks, and disruptions to foreign economic and trade relationships), public health emergencies, such as the COVID-19 pandemic, measures to address budget deficits, downgrading of sovereign debt, and public sentiment, among other events. Resulting market volatility, dramatic changes to interest rates, and otherwise unfavorable economic conditions may negatively impact Fund performance or impair a Fund’s ability to achieve its investment objective.

In March 2023, the financial distress of certain financial institutions raised economic concerns over disruption in the U.S. banking system and regarding the solvency of certain financial services firms. There can be no certainty that the actions taken by the

U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system.

 

116   WisdomTree Trust


Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree Europe Quality Dividend Growth Fund, WisdomTree Europe SmallCap Dividend Fund, WisdomTree International AI Enhanced Value Fund, WisdomTree International Equity Fund, WisdomTree International High Dividend Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International MidCap Dividend Fund, WisdomTree International Multifactor Fund, WisdomTree International Quality Dividend Growth Fund, WisdomTree International SmallCap Dividend Fund and WisdomTree Japan SmallCap Dividend Fund, and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of WisdomTree Europe Quality Dividend Growth Fund, WisdomTree Europe SmallCap Dividend Fund, WisdomTree International AI Enhanced Value Fund, WisdomTree International Equity Fund, WisdomTree International High Dividend Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International MidCap Dividend Fund, WisdomTree International Multifactor Fund, WisdomTree International Quality Dividend Growth Fund, WisdomTree International SmallCap Dividend Fund and WisdomTree Japan SmallCap Dividend Fund (collectively referred to as the “Funds”), (eleven of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments, as of March 31, 2023, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (eleven of the funds constituting WisdomTree Trust) at March 31, 2023, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

 

       

Individual fund constituting the

WisdomTree Trust

   Statement of
operations
   Statements of changes
in net assets
   Financial highlights

WisdomTree Europe Quality Dividend Growth Fund

WisdomTree Europe SmallCap Dividend Fund

WisdomTree International AI Enhanced Value Fund

WisdomTree International Equity Fund

WisdomTree International High Dividend Fund

WisdomTree International LargeCap Dividend Fund

WisdomTree International MidCap Dividend Fund

WisdomTree International Quality Dividend Growth Fund

WisdomTree International SmallCap Dividend Fund

WisdomTree Japan SmallCap Dividend Fund

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the five years in the period ended March 31, 2023

WisdomTree International Multifactor Fund

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the four years in the period ended March 31, 2023 and the period from August 10, 2018 (commencement of operations) through March 31, 2019

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2023, by correspondence with the custodian, brokers and others; when replies were not received from

 

WisdomTree Trust      117  


Report of Independent Registered Public Accounting Firm (concluded)

 

brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

LOGO

We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 30, 2023

 

118   WisdomTree Trust


Liquidity Risk Management Program (unaudited)

 

The Funds adopted a liquidity risk management program (the “Program”) pursuant to the requirements of Rule 22e-4 (the “Rule”) under the Investment Company Act of 1940, as amended. The Rule requires registered open-end funds, including exchange-traded funds such as the Funds, to establish liquidity risk management programs in order to effectively manage fund liquidity and shareholder redemptions. The Rule is designed to mitigate the risk that a Fund could not meet redemption requests without significantly diluting the interest of remaining investors. The Board has appointed WisdomTree Asset Management, Inc., the investment advisor to the Funds, as the Program Administrator for each Fund’s Program.

The Rule requires the Funds to assess, manage and review their liquidity risk at least annually considering applicable factors such as investment strategy and liquidity during normal and foreseeable stressed conditions, including whether the strategy is appropriate for an open-ended fund and whether the Fund has a relatively concentrated portfolio or large positions in particular issuers. The Funds must also assess their use of borrowings and derivatives, short-term and long-term cash flow projections in normal and stressed conditions, holdings of cash and cash equivalents, and borrowing arrangements and other funding sources.

The Rule also requires the Funds to classify their investments into one of four liquidity categories: highly liquid, moderately liquid, less liquid or illiquid based on the number of days a Fund expects it would take to liquidate the investment, and to review these classifications at least monthly or more often under certain conditions. The periods range from three or fewer business days for a highly liquid investment to greater than seven calendar days for settlement of a less liquid investment. Illiquid investments are those a Fund does not expect to be able to sell or dispose of within seven calendar days without significantly changing the market value of the investment. A Fund is prohibited from acquiring an investment if, after the acquisition, its holdings of illiquid assets will exceed 15% of its net assets. In addition, if a Fund permits redemptions in-kind, the Rule requires the Fund to establish redemption in-kind policies and procedures governing how and when it will engage in such redemptions.

Pursuant to the Rule’s requirements, the Program has been reviewed and approved by the Fund’s Board. Furthermore, the Board has received a written report prepared by the Program Administrator that addresses the operation of the Program, assesses its adequacy and effectiveness and describes any material changes made to the Program. The Program Administrator has monitored the Fund’s liquidity risk and the liquidity classifications of the securities held by the Fund and has determined that the Program is operating effectively.

During the period from January 1, 2022 to December 31, 2022, there were no material changes to the Program and no material liquidity events that impacted the Funds. During the period, the Funds held sufficient highly liquid assets to meet fund redemptions.

Under normal expected foreseeable Fund redemption forecasts and foreseeable stressed Fund redemption forecasts, the Program Administrator believes that the Funds maintain sufficient highly liquid assets to meet Fund redemptions.

 

WisdomTree Trust      119  


Trustees and Officers Information (unaudited)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with
the Trust, Term of
Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Trustees Who Are Interested Persons of the Trust
Jonathan Steinberg
(1964)
  Trustee, 2005- present; President, 2005-present   Chief Executive Officer, WisdomTree and WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     Director, WisdomTree and WisdomTree Asset Management.
Trustees Who Are Not Interested Persons of the Trust
David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     80     None
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner at Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     80     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     80     None

Melinda A. 
Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     80     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     80     None

 

 

120   WisdomTree Trust


Trustees and Officers Information (unaudited) (concluded)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with
the Trust, Term of
Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Officers of the Trust

Jonathan 
Steinberg*****

(1964)

 

President, 2005-

present; Trustee, 2005-present

  Chief Executive Officer, WisdomTree WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     See Interested
Trustees Table
Above.

David Castano*****

(1971)

  Treasurer, 2013-present   Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, Wisdom Tree Asset Management, 2011 to 2020.     80     None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present   Head of U.S. Compliance, WisdomTree Asset Management since 2022; Chief Compliance Officer WisdomTree Asset Management since 2012.     80     None

Joanne Antico*****

(1975)

  Chief Legal Officer and Secretary, 2021-present   General Counsel, WisdomTree Asset Management since 2021; Assistant General Counsel, WisdomTree Asset Management 2016 to 2021; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.     80     None

TJ Darnowski *****

(1984)

  Assistant Secretary, 2021-present   Senior Investment Management Paralegal, WisdomTree Asset Management since 2021; Senior Legal Administrator, Ultimus Fund Solutions, 2019-2021; Assistant Vice President, State Street Bank & Trust Company, 2010 to 2019.     80     None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present   Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.     80     None

Angela Borreggine*****

(1964)

  Assistant Secretary, 2021-present   Assistant General Counsel, WisdomTree Asset Management since 2022; Vice President and Senior Counsel, Virtus Investment Partners, 2021-2022; Director, Senior Counsel, Allianz Global Investors, 2007-2021.     80     None

 

+

As of March 31, 2023.

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

WisdomTree Trust      121  


Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year ended March 31, 2023, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2024.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2023, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

Europe Quality Dividend Growth Fund

   $ 1,667,670  

Europe SmallCap Dividend Fund

     12,599,866  

International AI Enhanced Value Fund

     2,552,606  

International Equity Fund

     22,410,715  

International High Dividend Fund

     12,928,175  

International LargeCap Dividend Fund

     16,373,179  

International MidCap Dividend Fund

     3,938,608  

International Multifactor Fund

     1,093,846  

International Quality Dividend Growth Fund

     13,540,674  

International SmallCap Dividend Fund

     47,645,753  

Japan SmallCap Dividend Fund

     4,862,763  

The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries during the fiscal year ended March 31, 2023. The gross foreign source income and foreign taxes paid are as follows:

 

     
Fund    Gross Foreign
Income
    

Foreign

Taxes Paid

 

Europe Quality Dividend Growth Fund

   $ 1,846,659      $ 175,142  

Europe SmallCap Dividend Fund

     13,972,878        1,030,097  

International AI Enhanced Value Fund

     3,984,513        208,505  

International Equity Fund

     27,409,299        1,481,790  

International High Dividend Fund

     15,387,129        853,923  

International LargeCap Dividend Fund

     18,970,965        1,045,954  

International MidCap Dividend Fund

     5,563,898        375,447  

International Multifactor Fund

     1,396,424        76,816  

International Quality Dividend Growth Fund

     14,419,819        1,104,428  

International SmallCap Dividend Fund

     59,586,913        4,474,208  

Japan SmallCap Dividend Fund

     5,121,078        535,728  

 

122   WisdomTree Trust


General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an exhibit to their reports on Form N-PORT. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: [email protected].

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com/investments.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com/investments.

 

WisdomTree Trust      123  


The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree, Inc., its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting such issuers. Dividends are not guaranteed, and a company currently paying dividends may cease paying dividends at any time. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

Indexes are unmanaged and you cannot invest directly in an index.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.


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