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WisdomTree Trust

Semi-Annual Report

September 30, 2021

 

WisdomTree Europe Hedged Equity Fund (HEDJ)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

WisdomTree Germany Hedged Equity Fund (DXGE)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

WisdomTree Japan Hedged Equity Fund (DXJ)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

 

 


Table of Contents

Table of Contents

 

Information about Performance and Shareholder Expense Examples (unaudited)

       1  

Performance Summary (unaudited)

       2  

Description of Terms and Indexes (unaudited)

       8  
Schedules of Investments (unaudited)

 

WisdomTree Europe Hedged Equity Fund

       10  

WisdomTree Europe Hedged SmallCap Equity Fund

       13  

WisdomTree Germany Hedged Equity Fund

       16  

WisdomTree International Hedged Quality Dividend Growth Fund

       18  

WisdomTree Japan Hedged Equity Fund

       26  

WisdomTree Japan Hedged SmallCap Equity Fund

       32  

Statements of Assets and Liabilities (unaudited)

       41  

Statements of Operations (unaudited)

       42  

Statements of Changes in Net Assets (unaudited)

       43  

Financial Highlights (unaudited)

       45  

Notes to Financial Statements (unaudited)

       48  

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

       58  

General Information (unaudited)

       61  

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


Table of Contents

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.

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 April 1, 2021 to September 30, 2021. 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 183/365 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

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

Hypothetical example for comparison purposes

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

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

 

WisdomTree Trust      1  


Table of Contents

Performance Summary

as of September 30, 2021 (unaudited)

WisdomTree Europe Hedged Equity Fund (HEDJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Materials

    22.7%  

Industrials

    18.4%  

Consumer Staples

    18.4%  

Information Technology

    13.3%  

Consumer Discretionary

    11.6%  

Health Care

    9.1%  

Communication Services

    3.8%  

Financials

    1.2%  

Energy

    0.8%  

Utilities

    0.2%  

Other Assets less Liabilities‡

    0.5%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

Linde PLC

    6.7%  

ASML Holding N.V.

    6.6%  

Unilever PLC

    5.8%  

Koninklijke Ahold Delhaize N.V.

    4.0%  

LVMH Moet Hennessy Louis Vuitton SE

    3.7%  

L’Oreal S.A.

    3.7%  

Siemens AG, Registered Shares

    3.4%  

BASF SE

    3.4%  

Deutsche Telekom AG, Registered Shares

    3.2%  

Sanofi

    3.1%  
*

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

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

Shareholder Expense Example (for the six-month period ended September 30, 2021)

 

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

Actual

   $ 1,000.00      $ 1,062.60        0.59   $ 3.05  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.11        0.59   $ 2.99  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       6.26      25.70      8.61      9.67      10.40

Fund Market Price Returns

       6.03      25.72      8.68      9.67      10.59

WisdomTree DEFA International Hedged Equity/Europe Hedged Equity Spliced Index1

       6.45      26.47      9.19      10.16      10.86

MSCI EAFE Local Currency/MSCI EMU Local Currency Spliced Index2

       6.12      30.35      7.81      8.78      9.78
*

Returns of less than one year are cumulative.

1 

WisdomTree DEFA International Hedged Equity Index prior to August 29, 2012; WisdomTree Europe Hedged Equity Index thereafter.

 

2 

MSCI EAFE Local Currency Index prior to August 29, 2012; MSCI EMU Local Currency Index thereafter.

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

 

2   WisdomTree Trust


Table of Contents

Performance Summary

as of September 30, 2021 (unaudited)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    16.9%  

Utilities

    14.2%  

Real Estate

    13.4%  

Financials

    12.4%  

Information Technology

    9.6%  

Materials

    8.4%  

Communication Services

    6.7%  

Consumer Discretionary

    5.2%  

Consumer Staples

    5.1%  

Energy

    3.9%  

Health Care

    3.8%  

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  

ASM International N.V.

    4.0%  

Mediobanca Banca di Credito Finanziario SpA

    3.2%  

Covivio

    2.7%  

ASR Nederland N.V.

    2.5%  

A2A SpA

    2.4%  

Italgas SpA

    2.1%  

Proximus SADP

    2.0%  

METRO AG

    2.0%  

Enagas S.A.

    1.8%  

Valmet Oyj

    1.7%  
*

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

The WisdomTree Europe Hedged SmallCap Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe Hedged SmallCap Equity Index (the “Index”). In seeking to track the Index, the Fund invests in European small-cap dividend-paying companies while at the same time hedging exposure to fluctuations of the value of the euro relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended September 30, 2021)

 

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

Actual

   $ 1,000.00      $ 1,067.50        0.62   $ 3.21  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.96        0.62   $ 3.14  

Performance

 

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

Fund NAV Returns

       6.75      33.42      8.65      10.77      8.79

Fund Market Price Returns

       6.85      33.96      8.83      10.82      8.66

WisdomTree Europe Hedged SmallCap Equity Index

       6.73      33.92      8.87      10.94      8.92

MSCI European Economic and Monetary Union (EMU) Small Cap Local Currency Index

       7.82      38.79      10.70      11.51      9.65
*

Returns of less than one year are cumulative.

 

1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on March 4, 2015.

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

 

WisdomTree Trust      3  


Table of Contents

Performance Summary

as of September 30, 2021 (unaudited)

WisdomTree Germany Hedged Equity Fund (DXGE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    19.0%  

Financials

    14.4%  

Consumer Discretionary

    13.7%  

Materials

    12.7%  

Health Care

    12.3%  

Information Technology

    9.3%  

Utilities

    7.5%  

Communication Services

    6.0%  

Consumer Staples

    3.3%  

Energy

    0.1%  

Real Estate

    0.1%  

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  

Siemens AG, Registered Shares

    6.4%  

BASF SE

    6.2%  

Deutsche Post AG, Registered Shares

    6.1%  

Deutsche Telekom AG, Registered Shares

    6.0%  

Allianz SE, Registered Shares

    5.9%  

SAP SE

    5.6%  

Bayer AG, Registered Shares

    5.1%  

Bayerische Motoren Werke AG

    4.5%  

E.ON SE

    4.4%  

Daimler AG, Registered Shares

    3.8%  
*

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

The WisdomTree Germany Hedged Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Germany Hedged Equity Index (the “Index”). In seeking to track the Index, the Fund invests in German dividend-paying companies with an exporter tilt while at the same time hedging exposure to fluctuations of the value of the euro relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended September 30, 2021)

 

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

Actual

   $ 1,000.00      $ 1,025.10        0.48   $ 2.44  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.66        0.48   $ 2.43  

Performance

 

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

Fund NAV Returns

       2.51      25.87      8.33      8.96      8.17

Fund Market Price Returns

       2.27      25.88      8.42      8.94      8.04

WisdomTree Germany Hedged Equity Index

       2.54      26.56      8.69      9.26      8.39

MSCI Germany Local Currency Index

       1.66      17.86      6.04      6.60      6.35
*

Returns of less than one year are cumulative.

 

1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on October 17, 2013.

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


Table of Contents

Performance Summary

as of September 30, 2021 (unaudited)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    19.3%  

Materials

    18.8%  

Industrials

    14.1%  

Information Technology

    13.9%  

Consumer Discretionary

    11.8%  

Consumer Staples

    7.7%  

Communication Services

    4.6%  

Financials

    4.6%  

Real Estate

    2.4%  

Energy

    1.2%  

Utilities

    0.7%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.8%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

Rio Tinto PLC

    5.4%  

Unilever PLC

    5.3%  

LVMH Moet Hennessy Louis Vuitton SE

    4.8%  

BHP Group Ltd.

    4.4%  

SoftBank Corp.

    4.1%  

Roche Holding AG

    3.8%  

GlaxoSmithKline PLC

    3.7%  

SAP SE

    3.3%  

Linde PLC

    3.2%  

Novo Nordisk A/S, Class B

    3.1%  
*

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

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

Shareholder Expense Example (for the six-month period ended September 30, 2021)

 

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

Actual

   $ 1,000.00      $ 1,072.90        0.58   $ 3.01  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.16        0.58   $ 2.94  

Performance

 

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

Fund NAV Returns

       7.29      22.41      12.99      12.39      10.28

Fund Market Price Returns

       6.63      21.90      12.92      12.21      10.12

WisdomTree International Hedged Quality Dividend Growth Index

       7.65      23.11      13.64      13.11      10.96

MSCI EAFE Local Currency Index

       6.17      27.20      7.16      9.01      7.35
*

Returns of less than one year are cumulative.

 

1 

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

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  


Table of Contents

Performance Summary

as of September 30, 2021 (unaudited)

WisdomTree Japan Hedged Equity Fund (DXJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    20.4%  

Consumer Discretionary

    17.8%  

Financials

    15.8%  

Information Technology

    12.9%  

Health Care

    10.1%  

Consumer Staples

    8.3%  

Materials

    7.9%  

Communication Services

    3.7%  

Energy

    2.0%  

Utilities

    0.1%  

Other Assets less Liabilities‡

    1.0%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

Toyota Motor Corp.

    5.5%  

Mitsubishi UFJ Financial Group, Inc.

    4.8%  

Sumitomo Mitsui Financial Group, Inc.

    3.3%  

Japan Tobacco, Inc.

    3.0%  

Mitsubishi Corp.

    2.8%  

Takeda Pharmaceutical Co., Ltd.

    2.7%  

Tokyo Electron Ltd.

    2.4%  

ITOCHU Corp.

    2.4%  

Canon, Inc.

    2.1%  

Mizuho Financial Group, Inc.

    2.1%  
*

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

The WisdomTree Japan Hedged Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan Hedged Equity Index (the “Index”). The Fund seeks to provide Japanese equity returns while mitigating or “hedging” against fluctuations between the value of the Japanese yen and the U.S. dollar. In seeking to track the Index, the Fund invests in Japanese dividend-paying companies with an exporter tilt while at the same time hedging exposure to fluctuations of the value of the Japanese yen relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended September 30, 2021)

 

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

Actual

   $ 1,000.00      $ 1,051.10        0.48   $ 2.47  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.66        0.48   $ 2.43  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       5.11      33.53      5.46      11.02      10.56

Fund Market Price Returns

       3.63      31.78      5.27      10.70      10.65

WisdomTree Japan Hedged Equity Index

       5.28      33.81      5.89      11.62      11.15

MSCI Japan Local Currency Index

       5.29      29.06      6.91      11.50      12.43
*

Returns of less than one year are cumulative.

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


Table of Contents

Performance Summary

as of September 30, 2021 (unaudited)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    26.7%  

Consumer Discretionary

    15.6%  

Materials

    14.3%  

Information Technology

    10.9%  

Financials

    10.9%  

Consumer Staples

    6.7%  

Health Care

    4.7%  

Communication Services

    3.3%  

Real Estate

    2.6%  

Utilities

    2.0%  

Energy

    1.3%  

Other Assets less Liabilities‡

    1.0%  

Total

    100.0%  

 

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

 

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

Top Ten Holdings*

 

Description   % of Net Assets  

Nippon Yusen K.K.

    1.4%  

Sojitz Corp.

    0.8%  

Seven Bank Ltd.

    0.8%  

JTEKT Corp.

    0.6%  

Mebuki Financial Group, Inc.

    0.6%  

Electric Power Development Co., Ltd.

    0.6%  

Yokohama Rubber Co., Ltd. (The)

    0.6%  

AEON Financial Service Co., Ltd.

    0.6%  

Tokyo Tatemono Co., Ltd.

    0.6%  

Mitsui OSK Lines Ltd.

    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 Japan Hedged SmallCap Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan Hedged SmallCap Equity Index (the “Index”). In seeking to track the Index, the Fund invests in Japanese small-cap dividend-paying companies while at the same time hedging exposure to fluctuations of the value of the Japanese yen relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

Shareholder Expense Example (for the six-month period ended September 30, 2021)

 

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

Actual

   $ 1,000.00      $ 1,032.60        0.58   $ 2.96  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.16        0.58   $ 2.94  

Performance

 

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

Fund NAV Returns

       3.26      19.67      2.56      10.39      10.14

Fund Market Price Returns

       2.14      18.38      2.40      10.15      9.93

WisdomTree Japan Hedged SmallCap Equity Index

       3.46      20.20      3.05      11.05      10.96

MSCI Japan Small Cap Local Currency Index

       3.47      21.02      4.00      9.96      10.56
*

Returns of less than one year are cumulative.

 

1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on June 28, 2013.

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  


Table of Contents

Description of Terms and Indexes (unaudited)

 

 

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

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 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 European Economic and Monetary Union (EMU) Local Currency Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of the developed market countries within the EMU. The securities are priced in local currency terms with no conversion into U.S. dollars.

The MSCI European Economic and Monetary Union (EMU) Small Cap Local Currency Index is a free float-adjusted market capitalization weighted index that captures small cap representation across the 10 Developed Market countries in the EMU and is calculated in local currency.

The MSCI Germany Local Currency Index is a capitalization weighted index that measures the performance of the Germany equity market and provides local currency returns, which are not translated back to U.S. dollars.

The MSCI Japan Index is a capitalization weighted index that is comprised of stocks in Japan.

The MSCI Japan Local Currency Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan and calculated in local currency.

The MSCI Japan Small Cap Local Currency Index is a free float-adjusted market capitalization index that is designed to measure the performance of small cap stocks within Japan and calculated in local currency.

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.

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

The WisdomTree DEFA International Hedged Equity Index is a dividend weighted index designed to provide exposure to developed world, non-U.S. equity securities while at the same time neutralizing exposure to fluctuations between the value of the U.S. dollar and non-U.S. currencies reflected in the index. This index is based on the WisdomTree International Equity Index.

The WisdomTree Europe Hedged Equity Index is designed to provide exposure to European equities while at the same time neutralizing exposure to fluctuations between the Euro and the U.S. dollar.

The WisdomTree Europe Hedged SmallCap Equity Index is designed to provide exposure to the European equity markets while at the same time neutralizing exposure to fluctuations of the Euro movements relative to U.S. dollar.

The WisdomTree Germany Hedged Equity Index is designed to provide exposure to Germany equity markets while at the same time neutralizing exposure to fluctuations of the Euro movements relative to the U.S. dollar. In this sense, the Index “hedges” against fluctuations in the relative value of the Euro against the U.S. dollar.

The WisdomTree International Hedged Quality Dividend Growth Index is designed to provide exposure to the developed market companies while at the same time neutralizing exposure to fluctuations between the value of foreign currencies and the U.S. dollar.

The WisdomTree Japan Hedged Equity Index is designed to provide exposure to Japanese equity markets while at the same time neutralizing exposure to fluctuations of the Japanese Yen movements relative to the U.S. dollar.

 

8   WisdomTree Trust


Table of Contents

Description of Terms and Indexes (unaudited) (concluded)

 

The WisdomTree Japan Hedged SmallCap Equity Index is designed to provide exposure to the small-capitalization segment of the Japanese equity markets while at the same time neutralizing exposure to fluctuations of the Japanese Yen movements relative to the U.S. dollar.

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 Investments, Inc. Neither MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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

WisdomTree Investments, 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 Investments is the licensor of certain trademarks, service marks and trade names of the Funds. WisdomTree Investments 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 Investments is not responsible for, and has not participated in, the determination of the timing of, prices of, or quantities of shares of the Funds to be issued or in the determination or calculation of the equation by which the shares of the Funds are redeemable. WisdomTree and the Funds do not guarantee the accuracy, completeness, or performance of the underlying Indexes or the data included therein and shall have no liability in connection with the underlying Indexes or their calculation.

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

* * * * * *

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

 

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

 

WisdomTree Trust      9  


Table of Contents

Schedule of Investments (unaudited)

WisdomTree Europe Hedged Equity Fund (HEDJ)

September 30, 2021

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.5%

 

Austria – 0.2%

 

Andritz AG

     86,465      $ 4,737,863  
Belgium – 3.2%

 

Barco N.V.

     140,430        3,051,588  

Bekaert S.A.

     57,908        2,414,707  

Fagron

     18,537        363,070  

Melexis N.V.

     41,326        4,406,319  

Solvay S.A.

     281,172        35,079,291  

UCB S.A.

     140,017        15,707,997  

Umicore S.A.

     98,225        5,833,052  
     

 

 

 
Total Belgium

 

     66,856,024  
Finland – 5.9%

 

Cargotec Oyj, Class B

     123,753        6,313,504  

Fiskars Oyj Abp

     64,669        1,434,507  

Huhtamaki Oyj(a)

     176,108        7,959,914  

Kemira Oyj

     324,614        5,011,136  

Kone Oyj, Class B

     845,584        59,563,766  

Konecranes Oyj*

     187,694        7,563,447  

Metso Outotec Oyj

     217,760        1,997,280  

Neles Oyj

     931,583        12,793,949  

Revenio Group Oyj

     18,478        1,174,617  

Valmet Oyj

     459,144        16,676,795  
     

 

 

 
Total Finland

 

     120,488,915  
France – 24.5%

 

Air Liquide S.A.

     269,438        43,273,707  

Arkema S.A.

     36,739        4,875,257  

BioMerieux(a)

     5,142        587,351  

Cie Generale des Etablissements Michelin SCA(a)

     71,958        11,074,952  

Danone S.A.(a)

     545,031        37,299,740  

Dassault Systemes SE(a)

     122,545        6,457,100  

Gaztransport Et Technigaz S.A.

     26,859        2,015,553  

Hermes International(a)

     15,656        21,709,919  

Imerys S.A.

     95,913        4,166,216  

IPSOS

     15,311        698,253  

Kering S.A.

     33,843        24,160,964  

L’Oreal S.A.

     184,630        76,357,670  

Legrand S.A.

     100,928        10,850,184  

LVMH Moet Hennessy Louis Vuitton SE

     106,848        76,787,906  

Pernod Ricard S.A.

     104,758        23,152,750  

Publicis Groupe S.A.

     170,560        11,516,284  

Remy Cointreau S.A.(a)

     6,176        1,198,911  

Rubis SCA

     115,393        3,997,331  

Sanofi

     661,609        63,703,396  

Sartorius Stedim Biotech(a)

     2,378        1,333,069  

Schneider Electric SE(a)

     380,548        63,465,095  

SEB S.A.

     11,130        1,572,402  

Societe BIC S.A.(a)

     48,520        2,862,222  

Teleperformance

     9,842        3,879,312  

Vicat S.A.

     48,479        2,163,112  

Wendel SE(a)

     29,124        4,047,016  
     

 

 

 
Total France

 

     503,205,672  
Germany – 26.0%

 

BASF SE

     915,640      69,878,767  

Bayer AG, Registered Shares

     979,942        53,383,756  

Bayerische Motoren Werke AG

     377,103        36,169,722  

Beiersdorf AG

     30,354        3,287,808  

Brenntag SE

     78,184        7,301,462  

Continental AG*

     96,809        10,635,134  

Covestro AG(b)

     80,359        5,526,457  

Daimler AG, Registered Shares

     318,057        28,279,925  

Deutsche Telekom AG, Registered Shares

     3,250,914        65,541,983  

Duerr AG

     34,021        1,467,534  

Eckert & Ziegler Strahlen- und Medizintechnik AG

     4,233        547,491  

Evonik Industries AG

     378,435        11,960,274  

Fresenius Medical Care AG & Co. KGaA

     115,465        8,144,173  

Fresenius SE & Co. KGaA

     206,078        9,919,974  

GEA Group AG

     41,052        1,883,582  

Hannover Rueck SE

     76,342        13,390,927  

Hapag-Lloyd AG(b)

     50,872        11,137,186  

HeidelbergCement AG

     38,319        2,876,867  

Henkel AG & Co. KGaA

     87,131        7,528,094  

Infineon Technologies AG

     221,369        9,114,138  

Knorr-Bremse AG

     63,391        6,805,983  

Krones AG

     6,282        615,568  

LANXESS AG

     29,995        2,036,399  

Merck KGaA

     19,278        4,192,521  

SAP SE

     460,083        62,321,957  

Siemens AG, Registered Shares

     430,473        70,803,417  

Siemens Healthineers AG(b)

     320,525        20,869,322  

Siltronic AG

     15,045        2,374,838  

Software AG

     26,103        1,219,764  

Symrise AG

     25,176        3,316,048  

Vitesco Technologies Group AG, Class A*

     19,033        1,124,973  

Wacker Chemie AG

     5,800        1,084,916  
     

 

 

 
Total Germany

 

     534,740,960  
Ireland – 3.5%

 

CRH PLC

     1,137,265        53,459,429  

Glanbia PLC

     526,847        8,694,792  

Kerry Group PLC, Class A(a)

     72,388        9,731,712  
     

 

 

 
Total Ireland

 

     71,885,933  
Italy – 1.2%

 

Carel Industries SpA(b)

     39,774        1,085,563  

Davide Campari-Milano N.V.(a)

     282,322        3,985,260  

Ferrari N.V.(a)

     80,098        16,797,512  

Reply SpA

     16,309        3,012,870  
     

 

 

 
Total Italy

 

     24,881,205  
Netherlands – 18.3%

 

Akzo Nobel N.V.

     267,986        29,312,764  

ASM International N.V.

     72,039        28,236,182  

ASML Holding N.V.

     181,408        135,795,825  

BE Semiconductor Industries N.V.

     92,603        7,368,745  

Corbion N.V.

     32,917        1,593,109  

EXOR N.V.

     87,994        7,436,429  

 

See Notes to Financial Statements.

 

10   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Europe Hedged Equity Fund (HEDJ)

September 30, 2021

 

 

 

Investments    Shares      Value  

IMCD N.V.

     26,927      $ 5,156,965  

Koninklijke Ahold Delhaize N.V.

     2,463,819        82,051,155  

Koninklijke DSM N.V.

     177,882        35,613,508  

Koninklijke Vopak N.V.

     181,630        7,157,003  

SBM Offshore N.V.

     390,087        6,962,206  

Wolters Kluwer N.V.

     277,929        29,498,450  
     

 

 

 
Total Netherlands

 

     376,182,341  
Spain – 3.7%

 

ACS Actividades de Construccion y Servicios S.A.(a)

     1,577,119        42,861,958  

Cie Automotive S.A.

     305,381        7,708,406  

Grifols S.A.(a)

     331,023        8,087,112  

Prosegur Cash S.A.(b)

     5,182,620        4,180,452  

Prosegur Cia de Seguridad S.A.

     1,894,607        5,643,090  

Viscofan S.A.

     104,037        6,818,442  
     

 

 

 
Total Spain

 

     75,299,460  
Switzerland – 0.5%

 

STMicroelectronics N.V.(a)

     236,812        10,364,728  
United Kingdom – 12.5%

 

Linde PLC

     467,173        138,660,260  

Unilever PLC

     2,191,682        118,480,625  
     

 

 

 
Total United Kingdom

 

     257,140,885  

TOTAL COMMON STOCKS

(Cost: $1,687,361,588)

 

 

     2,045,783,986  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.6%

 

United States – 1.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(c)

    
(Cost: $32,724,682)     32,724,682      $ 32,724,682  

TOTAL INVESTMENTS IN SECURITIES – 101.1%

(Cost: $1,720,086,270)

 

 

     2,078,508,668  

Other Assets less Liabilities – (1.1)%

 

     (23,006,838
    

 

 

 
NET ASSETS – 100.0%

 

   $ 2,055,501,830  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $38,470,136 and the total market value of the collateral held by the Fund was $40,488,051. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $7,763,369.

 

(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 September 30, 2021.

 

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 N.A.

    10/5/2021       464,609,800       EUR       538,477,648       USD      $      $ (8,601

Bank of America N.A.

    10/5/2021       534,481,525       USD       452,493,350       EUR        10,055,086         

Bank of America N.A.

    10/5/2021       15,984,494       USD       13,620,250       EUR        199,026         

Bank of America N.A.

    11/3/2021       516,304,827       USD       445,238,909       EUR        3,706         

Citibank N.A.

    10/5/2021       464,611,806       EUR       538,477,649       USD               (6,278

Citibank N.A.

    10/5/2021       534,481,525       USD       452,491,051       EUR        10,057,750         

Citibank N.A.

    11/3/2021       516,304,827       USD       445,241,597       EUR        589         

Goldman Sachs

    10/5/2021       464,613,007       EUR       538,477,648       USD               (4,884

Goldman Sachs

    10/5/2021       534,481,525       USD       452,486,838       EUR        10,062,634         

Goldman Sachs

    11/3/2021       516,304,827       USD       445,230,462       EUR        13,501         

JP Morgan Chase Bank N.A.

    10/5/2021       464,612,607       EUR       538,477,648       USD               (5,348

JP Morgan Chase Bank N.A.

    10/5/2021       534,481,524       USD       452,489,901       EUR        10,059,082         

JP Morgan Chase Bank N.A.

    11/3/2021       516,304,827       USD       445,243,133       EUR               (1,192
                                             $ 40,451,374      $ (26,303

 

See Notes to Financial Statements.

 

WisdomTree Trust      11  


Table of Contents

Schedule of Investments (unaudited) (concluded)

WisdomTree Europe Hedged Equity Fund (HEDJ)

September 30, 2021

 

 

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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

   $ 2,045,783,986      $      $      $ 2,045,783,986  

Investment of Cash Collateral for Securities Loaned

            32,724,682               32,724,682  

Total Investments in Securities

   $ 2,045,783,986      $ 32,724,682      $      $ 2,078,508,668  

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ 40,451,374      $      $ 40,451,374  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (26,303    $      $ (26,303

Total – Net

   $ 2,045,783,986      $ 73,149,753      $      $ 2,118,933,739  
1 

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

 

See Notes to Financial Statements.

 

12   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

September 30, 2021

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.6%

 

Austria – 4.5%

 

Andritz AG

     4,782      $ 262,030  

AT&S Austria Technologie & Systemtechnik AG

     1,730        66,064  

CA Immobilien Anlagen AG

     11,618        491,461  

Oesterreichische Post AG(a)

     9,529        404,197  

Schoeller-Bleckmann Oilfield Equipment AG*

     2,601        105,204  

Telekom Austria AG*

     11,411        98,657  

UNIQA Insurance Group AG

     31,903        284,700  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     7,897        227,890  

Voestalpine AG

     4,108        152,541  

Wienerberger AG

     8,902        300,637  
     

 

 

 
Total Austria

 

     2,393,381  
Belgium – 12.0%

 

Aedifica S.A.

     3,597        449,390  

Barco N.V.

     7,410        161,022  

Bekaert S.A.

     3,162        131,852  

Cofinimmo S.A.

     5,143        780,823  

D’ieteren Group

     3,467        510,296  

Elia Group S.A./N.V.

     3,802        454,733  

Euronav N.V.

     84,627        804,440  

Fagron

     1,668        32,670  

Intervest Offices & Warehouses N.V.

     3,217        88,175  

Melexis N.V.

     2,270        242,035  

Orange Belgium S.A.

     5,775        129,977  

Proximus SADP

     54,728        1,087,139  

Recticel S.A.

     4,605        76,639  

Telenet Group Holding N.V.

     15,590        595,522  

Warehouses De Pauw CVA

     19,150        776,786  

Xior Student Housing N.V.

     1,042        58,872  
     

 

 

 
Total Belgium

 

     6,380,371  
Denmark – 0.2%

 

Cementir Holding N.V.      10,403        101,396  
Finland – 12.1%

 

Anora Group Oyj(a)

     3,328        38,647  

Cargotec Oyj, Class B

     6,485        330,845  

Huhtamaki Oyj

     9,418        425,685  

Kamux Corp.

     2,155        31,993  

Kemira Oyj

     16,959        261,800  

Kojamo Oyj

     19,849        412,002  

Konecranes Oyj*

     10,217        411,711  

Lassila & Tikanoja Oyj

     2,795        44,119  

Metsa Board Oyj

     43,305        406,275  

Metso Outotec Oyj

     9,956        91,316  

Neles Oyj

     50,217        689,658  

Nokian Renkaat Oyj

     11,277        405,285  

Oriola Oyj, Class B

     17,574        36,172  

Orion Oyj, Class B

     17,293        686,429  

Raisio Oyj, Class V

     16,362        64,379  

Revenio Group Oyj

     966        61,407  

Rovio Entertainment Oyj(a)(b)

     5,575        37,313  

Sanoma Oyj

     7,592        119,135  

Talenom Oyj

     2,100      34,024  

Terveystalo Oyj(b)

     6,987        87,454  

TietoEVRY Oyj

     9,280        279,631  

Tokmanni Group Corp.

     4,057        99,021  

Uponor Oyj

     10,128        252,129  

Valmet Oyj

     24,555        891,874  

Verkkokauppa.com Oyj

     7,682        70,334  

YIT Oyj

     36,126        191,338  
     

 

 

 
Total Finland

 

     6,459,976  
France – 11.6%

 

ABC Arbitrage

     3,863        31,339  

Albioma S.A.

     2,109        83,104  

Chargeurs S.A.

     1,938        58,577  

Cie Plastic Omnium S.A.

     10,659        273,995  

Covivio

     16,965        1,431,757  

Derichebourg S.A.*

     19,867        230,018  

Gaztransport Et Technigaz S.A.

     4,147        311,199  

Imerys S.A.

     14,114        613,076  

IPSOS

     2,649        120,807  

Kaufman & Broad S.A.

     3,557        148,612  

Nexity S.A.

     13,502        644,703  

Quadient S.A.

     3,101        74,753  

Rubis SCA

     17,256        597,765  

Societe BIC S.A.

     7,772        458,475  

Trigano S.A.

     1,455        274,188  

Vicat S.A.

     4,583        204,492  

Wendel SE

     4,609        640,458  
     

 

 

 
Total France

 

     6,197,318  
Germany – 15.4%

 

1&1 AG

     1,684        53,359  

alstria office REIT AG

     23,693        431,381  

Aurubis AG

     4,077        308,923  

Bechtle AG

     4,365        299,988  

Bilfinger SE

     1,309        45,785  

CANCOM SE

     1,557        92,426  

CompuGroup Medical SE & Co. KgaA

     1,113        91,713  

CropEnergies AG

     9,547        132,995  

Dermapharm Holding SE

     4,289        414,559  

DIC Asset AG

     15,208        268,962  

Duerr AG

     6,136        264,683  

Eckert & Ziegler Strahlen- und Medizintechnik AG

     607        78,509  

Elmos Semiconductor SE

     1,553        79,013  

Encavis AG(a)

     8,683        152,256  

Freenet AG

     879        23,054  

Fuchs Petrolub SE

     2,756        100,869  

GEA Group AG

     7,337        336,642  

Gerresheimer AG

     1,210        118,918  

GFT Technologies SE

     2,374        78,551  

GRENKE AG

     3,372        144,634  

Hamborner REIT AG

     13,465        145,909  

Hamburger Hafen und Logistik AG

     9,382        210,941  

Hornbach Baumarkt AG

     2,620        118,421  

 

See Notes to Financial Statements.

 

WisdomTree Trust      13  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

September 30, 2021

 

 

 

Investments    Shares      Value  

Hornbach Holding AG & Co. KGaA

     1,213      $ 157,731  

Indus Holding AG

     2,181        83,919  

Jenoptik AG

     994        33,753  

Krones AG

     1,333        130,620  

LANXESS AG

     5,250        356,429  

METRO AG

     80,439        1,047,846  

MLP SE

     4,940        40,993  

Nemetschek SE

     2,320        243,871  

PATRIZIA AG*

     3,802        100,685  

Rheinmetall AG

     4,525        444,607  

Siltronic AG

     1,992        314,435  

Software AG

     4,998        233,551  

STRATEC SE

     324        45,961  

Suedzucker AG

     9,277        149,124  

TAG Immobilien AG

     13,174        386,586  

VERBIO Vereinigte BioEnergie AG

     3,017        198,954  

Wacker Chemie AG

     876        163,860  

Wuestenrot & Wuerttembergische AG

     2,403        50,965  
     

 

 

 
Total Germany

 

     8,176,381  
Ireland – 1.2%

 

Glanbia PLC

     28,025        462,509  

Hibernia REIT PLC

     85,799        116,142  

Irish Continental Group PLC*

     7,219        36,101  
     

 

 

 
Total Ireland

 

     614,752  
Italy – 20.0%

 

A2A SpA

     614,369        1,264,197  

ACEA SpA

     18,083        386,452  

Alerion Cleanpower SpA(a)

     4,551        79,643  

Anima Holding SpA(b)

     66,739        319,831  

Ascopiave SpA

     20,145        81,131  

Azimut Holding SpA

     27,225        749,685  

Buzzi Unicem SpA

     4,877        111,603  

Carel Industries SpA(b)

     2,074        56,606  

Danieli & C. Officine Meccaniche SpA

     1,341        38,776  

Danieli & C. Officine Meccaniche SpA, RSP

     2,240        42,835  

Datalogic SpA

     5,037        102,100  

Enav SpA*(b)

     107,240        503,109  

ERG SpA

     16,013        476,947  

Falck Renewables SpA

     11,765        91,696  

Fiera Milano SpA*(a)

     16,105        67,007  

Hera SpA

     149,887        614,244  

Immobiliare Grande Distribuzione SIIQ SpA*

     26,080        118,484  

Interpump Group SpA

     2,353        152,712  

Iren SpA

     168,542        500,831  

Italgas SpA

     174,534        1,120,610  

La Doria SpA

     1,265        24,659  

Mediobanca Banca di Credito Finanziario SpA*

     138,786        1,679,233  

Piaggio & C. SpA

     53,553        185,327  

Prysmian SpA

     7,974        280,201  

RAI Way SpA(b)

     27,194        164,516  

Reply SpA

     874        161,460  

SOL SpA

     4,605        101,402  

Telecom Italia SpA

     1,412,180        555,478  

Telecom Italia SpA, RSP

     1,464,707      593,963  

Zignago Vetro SpA

     2,806        55,544  
     

 

 

 
Total Italy

 

     10,680,282  
Netherlands – 12.5%

 

Aalberts N.V.

     8,266        477,653  

ASM International N.V.

     5,387        2,111,472  

ASR Nederland N.V.

     28,868        1,322,204  

BE Semiconductor Industries N.V.

     6,396        508,952  

Corbion N.V.

     2,304        111,508  

Euronext N.V.(b)

     5,673        642,351  

ForFarmers N.V.

     13,108        65,703  

IMCD N.V.

     1,937        370,967  

SBM Offshore N.V.

     28,963        516,927  

TKH Group N.V., CVA

     6,627        371,422  

Van Lanschot Kempen N.V.

     5,651        174,537  
     

 

 

 
Total Netherlands

 

     6,673,696  
Portugal – 1.6%

 

Altri, SGPS, S.A.

     51,494        319,581  

Corticeira Amorim, SGPS, S.A.

     5,310        72,864  

REN – Redes Energeticas Nacionais, SGPS, S.A.

     55,426        163,802  

Sonae, SGPS, S.A.

     290,353        305,714  
     

 

 

 
Total Portugal

 

     861,961  
Spain – 8.5%

 

Acciona S.A.

     3,237        537,218  

Almirall S.A.

     10,440        166,004  

Cia de Distribucion Integral Logista Holdings S.A.

     16,004        337,756  

Cie Automotive S.A.

     16,421        414,498  

Ebro Foods S.A.(a)

     8,751        166,937  

Enagas S.A.

     43,304        963,845  

Ercros S.A.*

     8,171        33,476  

Faes Farma S.A.

     40,256        157,693  

Global Dominion Access S.A.(b)

     9,982        50,439  

Grupo Catalana Occidente S.A.

     7,594        277,234  

Inmobiliaria Colonial Socimi S.A.

     46,252        449,199  

Miquel y Costas & Miquel S.A.

     4,053        79,477  

Pharma Mar S.A.(a)

     327        28,226  

Prosegur Cash S.A.(a)(b)

     159,185        128,403  

Prosegur Cia de Seguridad S.A.

     57,766        172,056  

Viscofan S.A.

     5,749        376,782  

Zardoya Otis S.A.

     22,502        183,072  
     

 

 

 
Total Spain

 

     4,522,315  

TOTAL COMMON STOCKS

(Cost: $47,221,977)

 

 

     53,061,829  
RIGHTS – 0.0%

 

Austria – 0.0%

 

CA Immobilien Anlagen AG*
(Cost: $0)
     8,284        0  

 

See Notes to Financial Statements.

 

14   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (concluded)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

September 30, 2021

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.7%

 

United States – 1.7%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(c)

     
(Cost: $905,426)      905,426      $ 905,426  

TOTAL INVESTMENTS IN SECURITIES – 101.3%

(Cost: $48,127,403)

        53,967,255  

Other Assets less Liabilities – (1.3)%

        (671,631
     

 

 

 
NET ASSETS – 100.0%             $ 53,295,624  
* 

Non-income producing security.

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $0, which represents 0.0% of net assets.

 

(a) 

Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $939,713 and the total market value of the collateral held by the Fund was $991,437. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $86,011.

 

(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 September 30, 2021.

 

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 N.A.

    10/5/2021       11,978,429       EUR       13,882,868       USD      $      $ (222

Bank of America N.A.

    10/5/2021       13,882,868       USD       11,753,270       EUR        261,175         

Bank of America N.A.

    11/3/2021       13,313,299       USD       11,480,812       EUR        96         

Citibank N.A.

    10/5/2021       11,978,482       EUR       13,882,869       USD               (162

Citibank N.A.

    10/5/2021       13,882,868       USD       11,753,210       EUR        261,245         

Citibank N.A.

    11/3/2021       13,313,298       USD       11,480,881       EUR        15         

Goldman Sachs

    10/5/2021       11,978,512       EUR       13,882,868       USD               (126

Goldman Sachs

    10/5/2021       13,882,868       USD       11,753,100       EUR        261,372         

Goldman Sachs

    11/3/2021       13,313,299       USD       11,480,594       EUR        348         

JP Morgan Chase Bank N.A.

    10/5/2021       11,978,502       EUR       13,882,868       USD               (138

JP Morgan Chase Bank N.A.

    10/5/2021       13,882,869       USD       11,753,181       EUR        261,279         

JP Morgan Chase Bank N.A.

    11/3/2021       13,313,299       USD       11,480,921       EUR               (31

Standard Chartered Bank

    10/4/2021       26,000       USD       22,440       EUR               (6
                                             $ 1,045,530      $ (685

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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

   $ 53,061,829      $      $      $ 53,061,829  

Rights

                   0 *       0  

Investment of Cash Collateral for Securities Loaned

            905,426               905,426  

Total Investments in Securities

   $ 53,061,829      $ 905,426      $ 0      $ 53,967,255  

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ 1,045,530      $      $ 1,045,530  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (685    $      $ (685

Total – Net

   $ 53,061,829      $ 1,950,271      $ 0      $ 55,012,100  
* 

Security is being fair valued using significant unobservable inputs by the Pricing Committee.

 

1 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      15  


Table of Contents

Schedule of Investments (unaudited)

WisdomTree Germany Hedged Equity Fund (DXGE)

September 30, 2021

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.4%

 

Germany – 98.4%

 

Air Freight & Logistics – 6.1%

 

Deutsche Post AG, Registered Shares

     30,610      $ 1,932,703  
Auto Components – 1.8%

 

Continental AG*

     4,592        504,463  

Vitesco Technologies Group AG, Class A*

     900        53,207  
     

 

 

 
Total Auto Components

 

     557,670  
Automobiles – 11.7%

 

Bayerische Motoren Werke AG

     14,803        1,419,826  

Daimler AG, Registered Shares

     13,435        1,194,568  

Volkswagen AG

     3,512        1,090,822  
     

 

 

 
Total Automobiles

 

     3,705,216  
Capital Markets – 1.6%

 

Deutsche Boerse AG

     3,026        492,731  
Chemicals – 11.2%

 

BASF SE

     25,841        1,972,104  

Covestro AG(a)

     5,754        395,715  

Evonik Industries AG

     18,407        581,745  

Fuchs Petrolub SE

     1,116        40,845  

LANXESS AG

     3,716        252,284  

Symrise AG

     1,930        254,209  

Wacker Chemie AG

     174        32,548  
     

 

 

 
Total Chemicals

 

     3,529,450  
Construction Materials – 0.9%

 

HeidelbergCement AG

     3,681        276,358  
Diversified Financial Services – 0.1%

 

GRENKE AG

     647        27,752  
Diversified Telecommunication Services – 6.0%

 

Deutsche Telekom AG, Registered Shares

     93,979        1,894,719  
Electronic Equipment, Instruments & Components – 0.0%

 

Jenoptik AG

     222        7,539  
Food & Staples Retailing – 1.2%

 

METRO AG

     29,407        383,073  
Food Products – 0.1%

 

Suedzucker AG

     1,838        29,545  
Health Care Equipment & Supplies – 3.1%

 

Carl Zeiss Meditec AG, Bearer Shares

     281        54,077  

Eckert & Ziegler Strahlen- und Medizintechnik AG

     128        16,555  

Siemens Healthineers AG(a)

     13,946        908,021  

STRATEC SE

     66        9,363  
     

 

 

 
Total Health Care Equipment & Supplies

 

     988,016  
Health Care Providers & Services – 2.9%

 

Fresenius Medical Care AG & Co. KGaA

     5,790        408,390  

Fresenius SE & Co. KGaA

     10,847        522,142  
     

 

 

 
Total Health Care Providers & Services

 

     930,532  
Health Care Technology – 0.1%

 

CompuGroup Medical SE & Co. KgaA

     203        16,728  
Household Products – 1.2%

 

Henkel AG & Co. KGaA

     4,380      378,431  
Independent Power & Renewable Electricity Producers – 1.8%

 

Encavis AG

     1,719        30,142  

Uniper SE

     12,883        538,254  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     568,396  
Industrial Conglomerates – 7.2%

 

Rheinmetall AG

     2,709        266,175  

Siemens AG, Registered Shares

     12,262        2,016,831  
     

 

 

 
Total Industrial Conglomerates

 

     2,283,006  
Insurance – 12.8%

 

Allianz SE, Registered Shares

     8,310        1,876,479  

Hannover Rueck SE

     3,588        629,361  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     4,077        1,119,362  

Talanx AG

     9,750        416,735  
     

 

 

 
Total Insurance

 

     4,041,937  
IT Services – 0.8%

 

Bechtle AG

     3,276        225,145  

CANCOM SE

     303        17,987  
     

 

 

 
Total IT Services

 

     243,132  
Life Sciences Tools & Services – 0.1%

 

Gerresheimer AG

     240        23,587  
Machinery – 3.0%

 

Duerr AG

     1,215        52,411  

GEA Group AG

     5,568        255,476  

KION Group AG

     35        3,280  

Knorr-Bremse AG

     3,394        364,397  

Krones AG

     264        25,869  

Rational AG

     275        259,622  
     

 

 

 
Total Machinery

 

     961,055  
Marine – 1.1%

 

Hapag-Lloyd AG(a)

     1,583        346,559  
Metals & Mining – 0.7%

 

Aurubis AG

     2,854        216,254  
Multi-Utilities – 5.7%

 

E.ON SE

     113,248        1,387,037  

RWE AG

     11,382        402,990  
     

 

 

 
Total Multi-Utilities

 

     1,790,027  
Oil, Gas & Consumable Fuels – 0.1%

 

CropEnergies AG

     1,896        26,412  
Personal Products – 0.7%

 

Beiersdorf AG

     2,200        238,294  
Pharmaceuticals – 6.1%

 

Bayer AG, Registered Shares

     29,457        1,604,712  

Merck KGaA

     1,528        332,305  
     

 

 

 
Total Pharmaceuticals

 

     1,937,017  
Real Estate Management & Development – 0.1%

 

PATRIZIA AG*

     765        20,259  

 

See Notes to Financial Statements.

 

16   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (concluded)

WisdomTree Germany Hedged Equity Fund (DXGE)

September 30, 2021

 

 

 

Investments    Shares      Value  
Semiconductors & Semiconductor Equipment – 2.6%

 

Infineon Technologies AG

     12,192      $ 501,965  

Siltronic AG

     1,942        306,543  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     808,508  
Software – 5.9%

 

Nemetschek SE

     459        48,249  

SAP SE

     13,086        1,772,604  

Software AG

     990        46,262  
     

 

 

 
Total Software

 

     1,867,115  
Specialty Retail – 0.2%

 

Hornbach Baumarkt AG

     521        23,549  

Hornbach Holding AG & Co. KGaA

     244        31,728  
     

 

 

 
Total Specialty Retail

 

     55,277  
Trading Companies & Distributors – 1.4%

 

Brenntag SE

     4,772      445,648  
Transportation Infrastructure – 0.1%

 

Hamburger Hafen und Logistik AG      1,865        41,932  

TOTAL INVESTMENTS IN SECURITIES – 98.4%

(Cost: $27,538,331)

 

 

     31,064,878  

Other Assets less Liabilities – 1.6%

 

     507,493  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 31,572,371  
*

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.

 

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 N.A.

    10/5/2021       7,056,756       EUR       8,178,703       USD      $      $ (131

Bank of America N.A.

    10/5/2021       8,178,703       USD       6,924,110       EUR        153,864         

Bank of America N.A.

    11/3/2021       7,951,315       USD       6,856,869       EUR        57         

Citibank N.A.

    10/5/2021       7,056,786       EUR       8,178,702       USD               (95

Citibank N.A.

    10/5/2021       8,178,703       USD       6,924,075       EUR        153,905         

Citibank N.A.

    11/3/2021       7,951,313       USD       6,856,909       EUR        9         

Goldman Sachs

    10/5/2021       7,056,805       EUR       8,178,703       USD               (74

Goldman Sachs

    10/5/2021       8,178,703       USD       6,924,010       EUR        153,980         

Goldman Sachs

    11/3/2021       7,951,315       USD       6,856,739       EUR        208         

JP Morgan Chase Bank N.A.

    10/5/2021       7,056,799       EUR       8,178,703       USD               (81

JP Morgan Chase Bank N.A.

    10/5/2021       8,178,702       USD       6,924,056       EUR        153,925         

JP Morgan Chase Bank N.A.

    11/3/2021       7,951,315       USD       6,856,935       EUR               (18

Royal Bank of Canada

    10/4/2021       13,000       USD       11,225       EUR               (10
                                             $ 615,948      $ (409

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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

   $ 31,064,878      $      $      $ 31,064,878  

Total Investments in Securities

   $ 31,064,878      $      $      $ 31,064,878  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 615,948      $      $ 615,948  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (409    $      $ (409

Total – Net

   $ 31,064,878      $ 615,539      $      $ 31,680,417  
1 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      17  


Table of Contents

Schedule of Investments (unaudited)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

September 30, 2021

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.1%

 

Australia – 9.6%

 

ARB Corp., Ltd.

     7,970      $ 281,754  

Beach Energy Ltd.(a)

     868,705        938,126  

BHP Group Ltd.(a)

     1,719,695        46,719,973  

BlueScope Steel Ltd.

     114,811        1,700,142  

Brambles Ltd.

     508,534        3,956,248  

Breville Group Ltd.(a)

     19,439        408,475  

Charter Hall Group

     148,305        1,837,248  

Codan Ltd.

     21,658        199,782  

CSL Ltd.

     40,207        8,521,374  

Domino’s Pizza Enterprises Ltd.

     23,657        2,742,043  

Elders Ltd.

     23,854        210,734  

Evolution Mining Ltd.

     607,180        1,530,702  

Goodman Group

     352,398        5,518,748  

JB Hi-Fi Ltd.

     47,305        1,555,454  

Mineral Resources Ltd.

     90,415        2,926,599  

Netwealth Group Ltd.

     16,752        176,188  

NIB Holdings Ltd.

     122,320        615,854  

Northern Star Resources Ltd.

     83,481        512,571  

Ramelius Resources Ltd.

     26,105        25,174  

Rio Tinto Ltd.

     277,473        20,079,347  

St Barbara Ltd.

     340,371        329,462  

Technology One Ltd.

     80,965        664,391  
     

 

 

 
Total Australia

 

     101,450,389  
Belgium – 0.1%

 

Fagron

     12,848        251,644  

Melexis N.V.

     8,949        954,173  
     

 

 

 
Total Belgium

 

     1,205,817  
China – 1.9%

 

China Overseas Grand Oceans Group Ltd.

     2,770,000        1,697,302  

China Overseas Land & Investment Ltd.

     6,986,527        15,921,202  

China Tobacco International HK Co., Ltd.(a)

     159,000        339,460  

CSPC Pharmaceutical Group Ltd.

     1,711,481        2,053,430  
     

 

 

 
Total China

 

     20,011,394  
Denmark – 5.4%

 

Coloplast A/S, Class B

     36,320        5,697,554  

DSV A/S

     9,494        2,279,501  

H. Lundbeck A/S

     34,504        938,143  

Novo Nordisk A/S, Class B

     333,407        32,290,505  

Novozymes A/S, Class B

     36,108        2,476,196  

Orsted A/S(b)

     55,769        7,377,804  

Royal Unibrew A/S

     15,833        1,909,999  

Vestas Wind Systems A/S

     99,052        3,975,295  
     

 

 

 
Total Denmark

 

     56,944,997  
Finland – 2.3%

 

Kone Oyj, Class B

     133,589        9,410,140  

Neste Oyj

     177,497        10,073,626  

Orion Oyj, Class B

     35,429        1,406,320  

Tokmanni Group Corp.

     10,264        250,519  

Uponor Oyj

     26,994        671,995  

Valmet Oyj

     74,664      2,711,908  
     

 

 

 
Total Finland

 

     24,524,508  
France – 6.5%

 

BioMerieux

     2,453        280,197  

Gaztransport Et Technigaz S.A.

     18,607        1,396,307  

Hermes International

     7,830        10,857,733  

LVMH Moet Hennessy Louis Vuitton SE

     70,133        50,402,125  

Sartorius Stedim Biotech

     2,855        1,600,467  

Trigano S.A.

     7,360        1,386,957  

Verallia S.A.(b)

     58,878        2,033,452  
     

 

 

 
Total France

 

     67,957,238  
Germany – 6.3%

 

Bechtle AG

     15,473        1,063,393  

CANCOM SE

     6,754        400,927  

Carl Zeiss Meditec AG, Bearer Shares

     3,814        733,980  

CompuGroup Medical SE & Co. KgaA

     1,196        98,552  

Dermapharm Holding SE

     12,990        1,255,567  

Eckert & Ziegler Strahlen- und Medizintechnik AG

     971        125,588  

Fuchs Petrolub SE

     38,654        1,414,723  

Infineon Technologies AG

     194,751        8,018,229  

Knorr-Bremse AG

     33,281        3,573,219  

Nemetschek SE

     6,887        723,939  

SAP SE

     252,734        34,234,861  

Siemens Healthineers AG(b)

     187,960        12,238,040  

Softwareone Holding AG*

     14,422        317,706  

Symrise AG

     12,873        1,695,563  
     

 

 

 
Total Germany

 

     65,894,287  
Hong Kong – 2.1%

 

Hong Kong Exchanges & Clearing Ltd.

     256,200        15,790,660  

Techtronic Industries Co., Ltd.

     296,500        5,907,414  

Vitasoy International Holdings Ltd.(a)

     126,000        320,477  
     

 

 

 
Total Hong Kong

 

     22,018,551  
Israel – 0.2%

 

Matrix IT Ltd.

     18,382        490,069  

Maytronics Ltd.

     12,753        301,457  

Strauss Group Ltd.

     28,560        835,779  
     

 

 

 
Total Israel

 

     1,627,305  
Italy – 0.9%

 

Davide Campari-Milano N.V.

     38,023        536,733  

DiaSorin SpA

     5,041        1,059,495  

Ferrari N.V.

     18,820        3,946,780  

Interpump Group SpA

     18,472        1,198,855  

Recordati Industria Chimica e Farmaceutica SpA(a)

     51,169        2,981,720  

Zignago Vetro SpA

     9,970        197,355  
     

 

 

 
Total Italy

 

     9,920,938  
Japan – 19.6%

 

ABC-Mart, Inc.

     26,500        1,503,428  

Advantest Corp.

     30,411        2,733,787  

Ariake Japan Co., Ltd.

     7,900        498,463  

Asahi Holdings, Inc.

     34,300        624,056  

 

See Notes to Financial Statements.

 

18   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

September 30, 2021

 

 

 

Investments    Shares      Value  

Astellas Pharma, Inc.

     363,300      $ 5,999,375  

Bandai Namco Holdings, Inc.

     44,000        3,312,570  

Benefit One, Inc.

     18,800        889,662  

Bridgestone Corp.

     261,600        12,440,507  

Chugai Pharmaceutical Co., Ltd.

     181,400        6,670,708  

Create SD Holdings Co., Ltd.

     1,200        40,385  

CyberAgent, Inc.

     17,500        339,727  

Daifuku Co., Ltd.

     16,200        1,527,439  

Daikin Industries Ltd.

     21,900        4,801,022  

Daiwabo Holdings Co., Ltd.

     22,300        360,158  

Digital Arts, Inc.

     2,800        227,363  

Dip Corp.

     9,200        351,261  

Disco Corp.

     6,991        1,964,310  

DTS Corp.

     7,100        163,795  

Eisai Co., Ltd.

     39,875        3,000,587  

Elecom Co., Ltd.

     14,800        237,835  

en Japan, Inc.

     19,550        712,263  

Fancl Corp.

     11,000        365,270  

Fast Retailing Co., Ltd.

     6,581        4,864,897  

Funai Soken Holdings, Inc.

     1,800        49,043  

GungHo Online Entertainment, Inc.

     13,889        255,436  

Hikari Tsushin, Inc.

     8,500        1,439,077  

Horiba Ltd.

     8,700        611,320  

Hoya Corp.

     27,700        4,338,405  

IR Japan Holdings Ltd.

     300        33,260  

Japan Lifeline Co., Ltd.

     600        7,378  

Kakaku.com, Inc.

     44,191        1,435,737  

Kao Corp.

     78,900        4,706,068  

Keyence Corp.

     8,900        5,344,387  

Kobe Bussan Co., Ltd.

     17,000        556,890  

Koito Manufacturing Co., Ltd.

     11,700        706,771  

Kose Corp.

     7,800        935,371  

Kotobuki Spirits Co., Ltd.

     200        13,749  

Kusuri no Aoki Holdings Co., Ltd.(a)

     500        34,461  

Kyudenko Corp.

     36,100        1,200,367  

Mani, Inc.(a)

     2,600        49,728  

McDonald’s Holdings Co., Japan Ltd.(a)

     4,100        193,287  

Meitec Corp.

     12,600        699,028  

Milbon Co., Ltd.

     3,200        196,460  

MINEBEA MITSUMI, Inc.

     48,900        1,255,206  

Murata Manufacturing Co., Ltd.

     100,220        8,946,370  

Nexon Co., Ltd.

     18,000        291,517  

NGK Spark Plug Co., Ltd.

     58,000        910,742  

Nifco, Inc.

     10,100        315,469  

Nihon M&A Center, Inc.

     20,800        614,259  

Nihon Unisys Ltd.

     27,000        705,400  

Nippon Shinyaku Co., Ltd.

     2,700        225,050  

Nissan Chemical Corp.

     30,268        1,774,167  

Nitori Holdings Co., Ltd.

     4,501        891,930  

Nojima Corp.

     1,800        46,510  

Nomura Research Institute Ltd.

     66,100        2,452,646  

NSD Co., Ltd.

     13,900        254,392  

Obic Co., Ltd.

     9,100        1,742,926  

OKUMA Corp.

     1,700        82,886  

Olympus Corp.

     47,100      1,036,981  

Oracle Corp.

     19,300        1,698,642  

Otsuka Corp.

     40,400        2,078,387  

Outsourcing, Inc.

     47,700        865,718  

Pan Pacific International Holdings Corp.

     31,300        650,266  

Pigeon Corp.

     21,400        498,678  

Prestige International, Inc.

     6,000        41,138  

Recruit Holdings Co., Ltd.

     106,300        6,508,999  

Ryohin Keikaku Co., Ltd.(a)

     18,400        412,279  

Sakai Moving Service Co., Ltd.

     2,600        113,251  

Sanwa Holdings Corp.

     52,400        683,795  

SCSK Corp.

     79,200        1,679,473  

Seria Co., Ltd.

     16,100        564,203  

SG Holdings Co., Ltd.

     43,600        1,242,644  

Shimadzu Corp.

     22,700        999,960  

Shionogi & Co., Ltd.

     43,600        2,990,942  

SMS Co., Ltd.

     3,600        131,804  

SoftBank Corp.

     3,205,200        43,506,838  

Sony Group Corp.

     72,500        8,093,099  

Starts Corp., Inc.

     24,300        580,412  

Sumitomo Forestry Co., Ltd.

     26,500        509,218  

Sundrug Co., Ltd.

     17,500        534,842  

Sysmex Corp.

     16,736        2,089,469  

Systena Corp.

     4,800        97,312  

T-Gaia Corp.

     41,400        737,278  

TechnoPro Holdings, Inc.

     22,800        691,714  

Terumo Corp.

     30,600        1,449,438  

Toei Animation Co., Ltd.(a)

     10,200        1,886,874  

Tokuyama Corp.

     30,000        577,549  

Tokyo Electron Ltd.

     35,958        16,007,473  

Trend Micro, Inc.

     52,100        2,904,432  

Unicharm Corp.

     29,800        1,321,803  

USS Co., Ltd.

     97,100        1,664,820  

Wacom Co., Ltd.

     5,100        32,636  

Workman Co., Ltd.

     2,600        164,750  

Yamaha Corp.

     22,100        1,396,415  

Yaskawa Electric Corp.

     22,900        1,108,313  

ZOZO, Inc.

     40,900        1,537,759  
     

 

 

 
Total Japan

 

     206,034,165  
Netherlands – 4.6%

 

ASM International N.V.

     15,869        6,219,964  

ASML Holding N.V.

     39,965        29,916,432  

BE Semiconductor Industries N.V.

     29,131        2,318,056  

Euronext N.V.(b)

     21,600        2,445,755  

IMCD N.V.

     4,488        859,526  

Wolters Kluwer N.V.

     57,718        6,125,995  
     

 

 

 
Total Netherlands

 

     47,885,728  
Norway – 0.1%

 

Borregaard ASA

     38,456        936,151  

Fjordkraft Holding ASA(b)

     4,377        24,339  
     

 

 

 
Total Norway

 

     960,490  
Portugal – 0.2%

 

Jeronimo Martins, SGPS, S.A.

     127,113        2,535,336  

 

See Notes to Financial Statements.

 

WisdomTree Trust      19  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

September 30, 2021

 

 

 

Investments    Shares      Value  
Singapore – 0.4%

 

Sheng Siong Group Ltd.

     652,900      $ 711,765  

Singapore Exchange Ltd.

     444,400        3,266,877  
     

 

 

 
Total Singapore

 

     3,978,642  
Spain – 0.5%

 

Faes Farma S.A.

     433,719        1,698,986  

Grifols S.A.

     64,731        1,581,422  

Prosegur Cash S.A.(b)

     931,324        751,233  

Prosegur Cia de Seguridad S.A.

     281,074        837,179  
     

 

 

 
Total Spain

 

     4,868,820  
Sweden – 3.3%

 

AddTech AB, Class B

     32,262        575,281  

Atlas Copco AB, Class A

     146,884        8,935,385  

Atlas Copco AB, Class B

     110,955        5,688,179  

Axfood AB

     90,610        2,171,893  

Beijer Ref AB

     48,054        957,944  

BioGaia AB, Class B

     790        39,868  

Elekta AB, Class B(a)

     41,176        462,848  

Epiroc AB, Class B

     76,613        1,364,813  

EQT AB

     71,935        3,009,437  

Essity AB, Class B

     172,726        5,370,201  

Evolution AB(b)

     20,100        3,066,275  

Lagercrantz Group AB, Class B

     16,155        193,707  

Lifco AB, Class B

     40,882        1,102,829  

Lindab International AB

     702        17,894  

Mycronic AB

     32,675        815,703  

Sweco AB, Class B

     75,028        1,185,210  
     

 

 

 
Total Sweden

 

     34,957,467  
Switzerland – 11.1%

 

ALSO Holding AG, Registered Shares*

     1,578        456,729  

Bucher Industries AG, Registered Shares

     2,499        1,194,784  

Geberit AG, Registered Shares

     8,885        6,562,432  

Givaudan S.A., Registered Shares

     1,951        8,913,718  

Kardex Holding AG, Registered Shares

     2,539        719,907  

Kuehne + Nagel International AG, Registered Shares

     34,246        11,725,543  

Logitech International S.A., Registered Shares

     30,185        2,694,113  

Partners Group Holding AG

     9,735        15,304,044  

Roche Holding AG

     108,537        39,785,847  

Roche Holding AG, Bearer Shares

     44,228        18,225,056  

Schindler Holding AG, Participation Certificate

     7,241        1,949,873  

SFS Group AG

     12,436        1,695,727  

Sika AG, Registered Shares(a)

     15,072        4,795,379  

STMicroelectronics N.V.

     50,549        2,212,416  

Temenos AG, Registered Shares

     7,556        1,029,499  
     

 

 

 
Total Switzerland

 

     117,265,067  
United Kingdom – 24.0%

 

AJ Bell PLC

     82,487        443,773  

Ashmore Group PLC

     478,551        2,197,737  

Ashtead Group PLC

     82,781        6,301,940  

Avon Protection PLC

     3,553        93,035  

Berkeley Group Holdings PLC

     77,971        4,585,868  

Bodycote PLC

    103,447      1,223,962  

Bunzl PLC

    87,448        2,894,704  

CMC Markets PLC(b)

    133,520        511,290  

Cranswick PLC

    10,791        519,728  

Croda International PLC

    25,051        2,885,952  

FDM Group Holdings PLC(a)

    21,542        367,143  

Ferrexpo PLC

    858,253        3,786,443  

Fevertree Drinks PLC

    8,000        251,225  

Fresnillo PLC

    105,530        1,111,865  

Games Workshop Group PLC

    7,158        991,208  

Gamma Communications PLC

    5,728        141,337  

GlaxoSmithKline PLC

    2,046,823        38,737,037  

Halma PLC

    35,367        1,355,268  

Hargreaves Lansdown PLC

    227,659        4,394,191  

Hilton Food Group PLC

    35,081        553,427  

HomeServe PLC

    89,503        1,091,563  

IMI PLC

    112,739        2,523,394  

Intertek Group PLC

    35,469        2,380,232  

Linde PLC

    112,251        33,316,893  

Moneysupermarket.com Group PLC

    324,203        931,107  

RELX PLC

    691,768        20,026,049  

Rio Tinto PLC

    865,361        57,331,200  

Rotork PLC

    182,635        858,941  

RWS Holdings PLC

    43,918        370,994  

Smith & Nephew PLC

    163,978        2,845,554  

Spirax-Sarco Engineering PLC

    7,823        1,579,057  

Spirent Communications PLC

    123,532        465,714  

Unilever PLC

    1,030,579        55,652,742  
    

 

 

 
Total United Kingdom

 

     252,720,573  

TOTAL COMMON STOCKS

(Cost: $836,708,884)

 

 

     1,042,761,712  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree International Quality Dividend Growth Fund(c)

    
(Cost: $882,631)     30,722        1,169,894  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.5%

 

United States – 0.5%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(d)

    
(Cost: $5,433,597)     5,433,597        5,433,597  

TOTAL INVESTMENTS IN SECURITIES – 99.7%

(Cost: $843,025,112)

 

 

     1,049,365,203  

Other Assets less Liabilities – 0.3%

 

     3,606,448  
    

 

 

 
NET ASSETS – 100.0%

 

   $ 1,052,971,651  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $52,958,251 and the total market value of the collateral held by the Fund was $55,680,132. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $50,246,535.

 

See Notes to Financial Statements.

 

20   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

September 30, 2021

 

 

 

 

(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 September 30, 2021.

 

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 six-month fiscal period ended September 30, 2021 were as follows:

 

Affiliate    Value at
3/31/2021
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/
(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
9/30/2021
     Dividend
Income
 

WisdomTree International Quality Dividend Growth Fund

   $ 1,615,390      $      $ 481,935      $ 110,708      $ (74,269    $ 1,169,894      $ 19,816  

 

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 N.A.

    10/5/2021       29,340,552       CHF       31,454,044       USD      $      $ (687

Bank of America N.A.

    10/5/2021       97,462,870       DKK       15,191,061       USD               (454

Bank of America N.A.

    10/5/2021       59,528,406       EUR       68,992,768       USD               (1,102

Bank of America N.A.

    10/5/2021       43,335,501       GBP       58,432,723       USD               (1,241

Bank of America N.A.

    10/5/2021       1,298,839       ILS       402,595       USD        4         

Bank of America N.A.

    10/5/2021       5,539,088,319       JPY       49,644,262       USD        573         

Bank of America N.A.

    10/5/2021       1,943,515       NOK       222,647       USD               (5

Bank of America N.A.

    10/5/2021       84,625,516       SEK       9,673,357       USD               (199

Bank of America N.A.

    10/5/2021       1,356,784       SGD       999,436       USD               (39

Bank of America N.A.

    10/5/2021       30,638,102       USD       28,043,453       CHF        575,248         

Bank of America N.A.

    10/5/2021       14,796,994       USD       93,170,812       DKK        275,349         

Bank of America N.A.

    10/5/2021       67,203,044       USD       56,894,259       EUR        1,264,276         

Bank of America N.A.

    10/5/2021       56,916,934       USD       41,352,481       GBP        1,159,261         

Bank of America N.A.

    10/5/2021       1,568,607       USD       5,024,716       ILS        11,104         

Bank of America N.A.

    10/5/2021       48,356,452       USD       5,311,042,315       JPY        755,511         

Bank of America N.A.

    10/5/2021       867,483       USD       7,551,682       NOK        2,388         

Bank of America N.A.

    10/5/2021       9,422,423       USD       81,379,385       SEK        120,316         

Bank of America N.A.

    10/5/2021       3,894,040       USD       5,238,146       SGD        35,661         

Bank of America N.A.

    10/6/2021       40,133,194       AUD       28,991,015       USD               (678

Bank of America N.A.

    10/6/2021       82,620,816       HKD       10,613,555       USD               (219

Bank of America N.A.

    10/6/2021       28,238,967       USD       38,630,598       AUD        334,035         

Bank of America N.A.

    10/6/2021       10,338,231       USD       80,399,037       HKD        10,301         

Bank of America N.A.

    11/3/2021       24,740,114       USD       34,245,216       AUD        3         

Bank of America N.A.

    11/3/2021       29,070,358       USD       27,098,428       CHF        233         

Bank of America N.A.

    11/3/2021       14,388,144       USD       92,273,815       DKK               (1,061

Bank of America N.A.

    11/3/2021       66,195,420       USD       57,084,062       EUR        475         

Bank of America N.A.

    11/3/2021       55,210,097       USD       40,944,288       GBP        605         

Bank of America N.A.

    11/3/2021       10,523,365       USD       81,912,947       HKD        61         

Bank of America N.A.

    11/3/2021       415,094       USD       1,338,960       ILS               (16

Bank of America N.A.

    11/3/2021       205,727       USD       1,796,256       NOK               (2

Bank of America N.A.

    11/3/2021       8,722,467       USD       76,292,968       SEK               (3

Bank of America N.A.

    11/3/2021       985,185       USD       1,337,586       SGD               (14

Bank of America N.A.

    11/4/2021       52,057,181       USD       5,807,176,357       JPY               (1,073

Citibank N.A.

    10/5/2021       372,028       CHF       402,331       USD               (3,514

Citibank N.A.

    10/5/2021       29,340,676       CHF       31,454,042       USD               (552

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

September 30, 2021

 

 

 

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
 

Citibank N.A.

    10/5/2021       1,233,370       DKK       194,310       USD      $      $ (2,076

Citibank N.A.

    10/5/2021       97,462,748       DKK       15,191,061       USD               (473

Citibank N.A.

    10/5/2021       753,293       EUR       882,492       USD               (9,447

Citibank N.A.

    10/5/2021       59,528,664       EUR       68,992,769       USD               (804

Citibank N.A.

    10/5/2021       546,517       GBP       747,418       USD               (10,521

Citibank N.A.

    10/5/2021       43,336,883       GBP       58,432,723       USD        622         

Citibank N.A.

    10/5/2021       16,469       ILS       5,150       USD               (45

Citibank N.A.

    10/5/2021       1,298,829       ILS       402,595       USD        1         

Citibank N.A.

    10/5/2021       70,292,656       JPY       635,004       USD               (4,997

Citibank N.A.

    10/5/2021       5,539,063,273       JPY       49,644,260       USD        350         

Citibank N.A.

    10/5/2021       24,501       NOK       2,848       USD               (41

Citibank N.A.

    10/5/2021       1,943,513       NOK       222,645       USD               (3

Citibank N.A.

    10/5/2021       1,071,543       SEK       123,733       USD               (1,250

Citibank N.A.

    10/5/2021       84,626,329       SEK       9,673,357       USD               (106

Citibank N.A.

    10/5/2021       17,310       SGD       12,784       USD               (34

Citibank N.A.

    10/5/2021       1,356,822       SGD       999,437       USD               (12

Citibank N.A.

    10/5/2021       30,638,102       USD       28,043,331       CHF        575,379         

Citibank N.A.

    10/5/2021       523,728       USD       478,525       CHF        10,745         

Citibank N.A.

    10/5/2021       785,592       USD       721,220       CHF        12,437         

Citibank N.A.

    10/5/2021       523,728       USD       480,813       CHF        8,292         

Citibank N.A.

    10/5/2021       785,592       USD       721,754       CHF        11,865         

Citibank N.A.

    10/5/2021       14,796,994       USD       93,170,501       DKK        275,398         

Citibank N.A.

    10/5/2021       252,940       USD       1,584,169       DKK        6,031         

Citibank N.A.

    10/5/2021       252,940       USD       1,591,034       DKK        4,961         

Citibank N.A.

    10/5/2021       379,410       USD       2,386,551       DKK        7,441         

Citibank N.A.

    10/5/2021       379,410       USD       2,386,463       DKK        7,455         

Citibank N.A.

    10/5/2021       67,203,044       USD       56,893,970       EUR        1,264,611         

Citibank N.A.

    10/5/2021       1,148,770       USD       967,477       EUR        27,493         

Citibank N.A.

    10/5/2021       1,723,155       USD       1,457,524       EUR        33,928         

Citibank N.A.

    10/5/2021       1,148,770       USD       971,683       EUR        22,618         

Citibank N.A.

    10/5/2021       1,723,155       USD       1,457,438       EUR        34,028         

Citibank N.A.

    10/5/2021       56,916,934       USD       41,352,060       GBP        1,159,828         

Citibank N.A.

    10/5/2021       486,470       USD       352,841       GBP        10,717         

Citibank N.A.

    10/5/2021       972,939       USD       703,254       GBP        24,705         

Citibank N.A.

    10/5/2021       972,939       USD       702,683       GBP        25,476         

Citibank N.A.

    10/5/2021       1,459,409       USD       1,054,025       GBP        38,213         

Citibank N.A.

    10/5/2021       1,459,409       USD       1,055,290       GBP        36,507         

Citibank N.A.

    10/5/2021       6,703       USD       21,505       ILS        37         

Citibank N.A.

    10/5/2021       10,055       USD       32,223       ILS        67         

Citibank N.A.

    10/5/2021       6,703       USD       21,481       ILS        45         

Citibank N.A.

    10/5/2021       10,055       USD       32,239       ILS        62         

Citibank N.A.

    10/5/2021       48,356,452       USD       5,311,018,137       JPY        755,727         

Citibank N.A.

    10/5/2021       826,606       USD       90,882,767       JPY        12,057         

Citibank N.A.

    10/5/2021       1,239,909       USD       136,152,051       JPY        19,628         

Citibank N.A.

    10/5/2021       826,606       USD       90,768,034       JPY        13,085         

Citibank N.A.

    10/5/2021       1,239,909       USD       135,497,379       JPY        25,495         

Citibank N.A.

    10/5/2021       3,707       USD       32,039       NOK        37         

Citibank N.A.

    10/5/2021       5,561       USD       48,165       NOK        43         

Citibank N.A.

    10/5/2021       3,707       USD       32,107       NOK        29         

Citibank N.A.

    10/5/2021       5,561       USD       47,737       NOK        92         

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

September 30, 2021

 

 

 

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
 

Citibank N.A.

    10/5/2021       9,422,423       USD       81,379,215       SEK      $ 120,335      $  

Citibank N.A.

    10/5/2021       161,067       USD       1,380,812       SEK        3,233         

Citibank N.A.

    10/5/2021       241,601       USD       2,080,488       SEK        3,790         

Citibank N.A.

    10/5/2021       161,067       USD       1,386,989       SEK        2,527         

Citibank N.A.

    10/5/2021       241,601       USD       2,071,311       SEK        4,839         

Citibank N.A.

    10/5/2021       16,641       USD       22,343       SGD        183         

Citibank N.A.

    10/5/2021       24,962       USD       33,519       SGD        272         

Citibank N.A.

    10/5/2021       16,641       USD       22,346       SGD        181         

Citibank N.A.

    10/5/2021       24,962       USD       33,476       SGD        304         

Citibank N.A.

    10/6/2021       511,699       AUD       370,827       USD               (1,199

Citibank N.A.

    10/6/2021       40,133,360       AUD       28,991,015       USD               (558

Citibank N.A.

    10/6/2021       1,056,846       HKD       135,759       USD        2         

Citibank N.A.

    10/6/2021       82,621,665       HKD       10,613,555       USD               (110

Citibank N.A.

    10/6/2021       28,238,967       USD       38,631,285       AUD        333,539         

Citibank N.A.

    10/6/2021       482,717       USD       651,552       AUD        12,067         

Citibank N.A.

    10/6/2021       482,717       USD       654,059       AUD        10,256         

Citibank N.A.

    10/6/2021       724,076       USD       981,089       AUD        15,383         

Citibank N.A.

    10/6/2021       724,076       USD       988,206       AUD        10,243         

Citibank N.A.

    10/6/2021       10,338,231       USD       80,397,342       HKD        10,519         

Citibank N.A.

    10/6/2021       176,722       USD       1,373,230       HKD        319         

Citibank N.A.

    10/6/2021       265,083       USD       2,061,759       HKD        233         

Citibank N.A.

    10/6/2021       176,722       USD       1,374,506       HKD        155         

Citibank N.A.

    10/6/2021       265,083       USD       2,062,611       HKD        123         

Citibank N.A.

    11/3/2021       24,740,112       USD       34,245,356       AUD               (100

Citibank N.A.

    11/3/2021       29,070,359       USD       27,098,546       CHF        108         

Citibank N.A.

    11/3/2021       14,388,144       USD       92,267,657       DKK               (101

Citibank N.A.

    11/3/2021       66,195,418       USD       57,084,405       EUR        76         

Citibank N.A.

    11/3/2021       55,210,096       USD       40,944,834       GBP               (132

Citibank N.A.

    11/3/2021       10,523,363       USD       81,913,931       HKD               (67

Citibank N.A.

    11/3/2021       415,095       USD       1,338,964       ILS               (17

Citibank N.A.

    11/3/2021       205,725       USD       1,796,219       NOK        0       

Citibank N.A.

    11/3/2021       8,722,465       USD       76,293,334       SEK               (47

Citibank N.A.

    11/3/2021       985,183       USD       1,337,552       SGD        8         

Citibank N.A.

    11/4/2021       52,057,179       USD       5,807,165,723       JPY               (980

Goldman Sachs

    10/5/2021       29,340,836       CHF       31,454,044       USD               (384

Goldman Sachs

    10/5/2021       97,464,571       DKK       15,191,061       USD               (189

Goldman Sachs

    10/5/2021       59,528,817       EUR       68,992,768       USD               (626

Goldman Sachs

    10/5/2021       43,336,047       GBP       58,432,723       USD               (504

Goldman Sachs

    10/5/2021       1,298,839       ILS       402,595       USD        4         

Goldman Sachs

    10/5/2021       5,539,078,390       JPY       49,644,262       USD        484         

Goldman Sachs

    10/5/2021       1,943,529       NOK       222,647       USD               (3

Goldman Sachs

    10/5/2021       84,626,280       SEK       9,673,357       USD               (112

Goldman Sachs

    10/5/2021       1,356,821       SGD       999,436       USD               (12

Goldman Sachs

    10/5/2021       30,638,102       USD       28,043,331       CHF        575,379         

Goldman Sachs

    10/5/2021       261,864       USD       239,249       CHF        5,386         

Goldman Sachs

    10/5/2021       14,796,994       USD       93,169,450       DKK        275,562         

Goldman Sachs

    10/5/2021       126,470       USD       792,976       DKK        2,876         

Goldman Sachs

    10/5/2021       67,203,044       USD       56,893,441       EUR        1,265,225         

Goldman Sachs

    10/5/2021       574,385       USD       484,254       EUR        13,149         

Goldman Sachs

    10/5/2021       56,916,934       USD       41,352,691       GBP        1,158,977         

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

September 30, 2021

 

 

 

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

    10/5/2021       3,352       USD       10,745       ILS      $ 21      $  

Goldman Sachs

    10/5/2021       48,356,452       USD       5,310,984,287       JPY        756,031         

Goldman Sachs

    10/5/2021       413,303       USD       45,453,576       JPY        5,919         

Goldman Sachs

    10/5/2021       1,854       USD       16,102       NOK        9         

Goldman Sachs

    10/5/2021       9,422,423       USD       81,379,828       SEK        120,265         

Goldman Sachs

    10/5/2021       80,534       USD       692,375       SEK        1,392         

Goldman Sachs

    10/5/2021       8,321       USD       11,184       SGD        83         

Goldman Sachs

    10/6/2021       40,133,638       AUD       28,991,015       USD               (357

Goldman Sachs

    10/6/2021       82,621,569       HKD       10,613,555       USD               (122

Goldman Sachs

    10/6/2021       28,238,967       USD       38,630,492       AUD        334,111         

Goldman Sachs

    10/6/2021       241,359       USD       327,363       AUD        4,887         

Goldman Sachs

    10/6/2021       10,338,231       USD       80,398,014       HKD        10,432         

Goldman Sachs

    10/6/2021       88,361       USD       687,032       HKD        106         

Goldman Sachs

    11/3/2021       24,740,114       USD       34,244,884       AUD        243         

Goldman Sachs

    11/3/2021       29,070,358       USD       27,098,545       CHF        108         

Goldman Sachs

    11/3/2021       14,388,144       USD       92,277,441       DKK               (1,626

Goldman Sachs

    11/3/2021       66,195,420       USD       57,082,979       EUR        1,731         

Goldman Sachs

    11/3/2021       55,210,097       USD       40,944,167       GBP        769         

Goldman Sachs

    11/3/2021       10,523,365       USD       81,913,168       HKD        33         

Goldman Sachs

    11/3/2021       415,094       USD       1,338,940       ILS               (10

Goldman Sachs

    11/3/2021       205,727       USD       1,796,257       NOK               (2

Goldman Sachs

    11/3/2021       8,722,467       USD       76,293,352       SEK               (47

Goldman Sachs

    11/3/2021       985,185       USD       1,337,583       SGD               (12

Goldman Sachs

    11/4/2021       52,057,181       USD       5,807,155,534       JPY               (887

JP Morgan Chase Bank N.A.

    10/5/2021       29,341,024       CHF       31,454,044       USD               (181

JP Morgan Chase Bank N.A.

    10/5/2021       97,464,662       DKK       15,191,061       USD               (175

JP Morgan Chase Bank N.A.

    10/5/2021       59,528,766       EUR       68,992,768       USD               (685

JP Morgan Chase Bank N.A.

    10/5/2021       43,336,112       GBP       58,432,723       USD               (418

JP Morgan Chase Bank N.A.

    10/5/2021       1,298,832       ILS       402,595       USD        2         

JP Morgan Chase Bank N.A.

    10/5/2021       5,539,073,425       JPY       49,644,262       USD        439         

JP Morgan Chase Bank N.A.

    10/5/2021       1,943,541       NOK       222,647       USD               (2

JP Morgan Chase Bank N.A.

    10/5/2021       84,626,793       SEK       9,673,357       USD               (53

JP Morgan Chase Bank N.A.

    10/5/2021       1,356,823       SGD       999,436       USD               (10

JP Morgan Chase Bank N.A.

    10/5/2021       30,638,103       USD       28,043,025       CHF        575,708         

JP Morgan Chase Bank N.A.

    10/5/2021       14,796,992       USD       93,169,808       DKK        275,504         

JP Morgan Chase Bank N.A.

    10/5/2021       67,203,043       USD       56,893,825       EUR        1,264,779         

JP Morgan Chase Bank N.A.

    10/5/2021       56,916,933       USD       41,352,149       GBP        1,159,706         

JP Morgan Chase Bank N.A.

    10/5/2021       48,356,452       USD       5,311,013,301       JPY        755,771         

JP Morgan Chase Bank N.A.

    10/5/2021       9,422,421       USD       81,377,992       SEK        120,473         

JP Morgan Chase Bank N.A.

    10/6/2021       40,133,916       AUD       28,991,015       USD               (157

JP Morgan Chase Bank N.A.

    10/6/2021       82,622,047       HKD       10,613,555       USD               (61

JP Morgan Chase Bank N.A.

    10/6/2021       28,238,965       USD       38,630,701       AUD        333,959         

JP Morgan Chase Bank N.A.

    10/6/2021       10,338,232       USD       80,398,042       HKD        10,430         

JP Morgan Chase Bank N.A.

    11/3/2021       24,740,114       USD       34,245,501       AUD               (202

JP Morgan Chase Bank N.A.

    11/3/2021       29,070,358       USD       27,098,835       CHF               (203

JP Morgan Chase Bank N.A.

    11/3/2021       14,388,144       USD       92,270,319       DKK               (516

JP Morgan Chase Bank N.A.

    11/3/2021       66,195,420       USD       57,084,603       EUR               (153

JP Morgan Chase Bank N.A.

    11/3/2021       55,210,097       USD       40,944,227       GBP        687         

JP Morgan Chase Bank N.A.

    11/3/2021       10,523,365       USD       81,913,400       HKD        3         

JP Morgan Chase Bank N.A.

    11/3/2021       415,094       USD       1,338,933       ILS               (8

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (concluded)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

September 30, 2021

 

 

 

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
 

JP Morgan Chase Bank N.A.

    11/3/2021       205,727       USD       1,796,289       NOK      $      $ (6

JP Morgan Chase Bank N.A.

    11/3/2021       8,722,467       USD       76,293,997       SEK               (120

JP Morgan Chase Bank N.A.

    11/3/2021       985,185       USD       1,337,551       SGD        11         

JP Morgan Chase Bank N.A.

    11/4/2021       52,057,181       USD       5,807,176,357       JPY               (1,073

UBS AG

    10/5/2021       785,592       USD       719,056       CHF        14,757         

UBS AG

    10/5/2021       379,410       USD       2,389,025       DKK        7,055         

UBS AG

    10/5/2021       1,723,155       USD       1,458,825       EUR        32,420         

UBS AG

    10/5/2021       1,459,409       USD       1,060,353       GBP        29,680         

UBS AG

    10/5/2021       10,055       USD       32,210       ILS        71         

UBS AG

    10/5/2021       1,239,909       USD       136,179,701       JPY        19,380         

UBS AG

    10/5/2021       5,561       USD       48,411       NOK        15         

UBS AG

    10/5/2021       241,601       USD       2,086,682       SEK        3,082         

UBS AG

    10/5/2021       24,962       USD       33,580       SGD        227         

UBS AG

    10/6/2021       724,076       USD       990,554       AUD        8,546         

UBS AG

    10/6/2021       265,083       USD       2,061,455       HKD        272         
                                             $ 18,645,763      $ (52,895
^ 

Amount represents less than $1.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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

   $ 1,042,761,712      $      $      $ 1,042,761,712  

Exchange-Traded Fund

     1,169,894                      1,169,894  

Investment of Cash Collateral for Securities Loaned

            5,433,597               5,433,597  

Total Investments in Securities

   $ 1,043,931,606      $ 5,433,597      $      $ 1,049,365,203  

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ 18,645,763      $      $ 18,645,763  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (52,895)      $      $ (52,895

Total – Net

   $ 1,043,931,606      $ 24,026,465      $      $ 1,067,958,071  

 

1 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Table of Contents

Schedule of Investments (unaudited)

WisdomTree Japan Hedged Equity Fund (DXJ)

September 30, 2021

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.0%

 

Japan – 99.0%

 

Air Freight & Logistics – 0.0%

 

Kintetsu World Express, Inc.

     23,200      $ 591,982  

Mitsui-Soko Holdings Co., Ltd.

     14,700        333,327  
     

 

 

 
Total Air Freight & Logistics               925,309  
Auto Components – 4.8%

 

Aisin Corp.

     149,508        5,453,709  

Bridgestone Corp.

     506,785        24,100,392  

Daikyonishikawa Corp.

     84,100        492,201  

Denso Corp.

     420,879        27,706,532  

Eagle Industry Co., Ltd.

     63,700        709,078  

Exedy Corp.

     43,600        669,387  

FCC Co., Ltd.

     26,500        374,788  

G-Tekt Corp.

     25,600        335,215  

JTEKT Corp.

     310,878        2,724,971  

Koito Manufacturing Co., Ltd.

     28,001        1,691,479  

Musashi Seimitsu Industry Co., Ltd.

     27,000        474,058  

NGK Spark Plug Co., Ltd.

     120,664        1,894,720  

NHK Spring Co., Ltd.

     89,200        640,369  

Nifco, Inc.

     45,390        1,417,738  

NOK Corp.

     63,300        747,175  

Pacific Industrial Co., Ltd.

     44,600        472,482  

Shoei Co., Ltd.

     14,000        632,400  

Stanley Electric Co., Ltd.

     38,907        984,749  

Sumitomo Electric Industries Ltd.

     402,383        5,395,160  

Sumitomo Riko Co., Ltd.

     57,400        394,585  

Sumitomo Rubber Industries Ltd.

     151,291        1,930,884  

Tokai Rika Co., Ltd.

     63,014        907,582  

Topre Corp.

     42,700        508,611  

Toyo Tire Corp.

     81,800        1,469,944  

Toyoda Gosei Co., Ltd.

     46,400        934,446  

Toyota Boshoku Corp.

     90,736        1,619,138  

TPR Co., Ltd.

     37,394        504,061  

TS Tech Co., Ltd.

     75,864        982,509  

Yokohama Rubber Co., Ltd. (The)

     135,800        2,452,494  
     

 

 

 
Total Auto Components               88,620,857  
Automobiles – 8.8%

 

Honda Motor Co., Ltd.

     1,059,847        32,818,924  

Isuzu Motors Ltd.

     510,700        6,742,201  

Subaru Corp.

     393,767        7,335,377  

Suzuki Motor Corp.

     178,636        7,997,193  

Toyota Motor Corp.

     5,679,350        101,803,271  

Yamaha Motor Co., Ltd.

     199,400        5,575,873  
     

 

 

 
Total Automobiles               162,272,839  
Banks – 10.9%

 

Mitsubishi UFJ Financial Group, Inc.

     15,040,122        88,683,811  

Mizuho Financial Group, Inc.

     2,761,864        39,221,811  

Sumitomo Mitsui Financial Group, Inc.

     1,720,800        60,827,562  

Sumitomo Mitsui Trust Holdings, Inc.

     376,900        13,028,934  
     

 

 

 
Total Banks               201,762,118  
Beverages – 1.6%

 

Asahi Group Holdings Ltd.

     264,200      12,836,462  

Kirin Holdings Co., Ltd.

     558,345        10,383,741  

Suntory Beverage & Food Ltd.

     121,100        5,036,110  

Takara Holdings, Inc.

     58,000        841,604  
     

 

 

 
Total Beverages               29,097,917  
Building Products – 1.9%

 

AGC, Inc.

     157,247        8,145,979  

Aica Kogyo Co., Ltd.

     53,900        1,852,624  

Central Glass Co., Ltd.

     23,200        434,994  

Daikin Industries Ltd.

     64,449        14,128,815  

Lixil Corp.

     180,700        5,271,598  

Nitto Boseki Co., Ltd.

     7,100        238,629  

Noritz Corp.

     15,400        252,583  

Okabe Co., Ltd.

     16,000        100,811  

Sanwa Holdings Corp.

     181,031        2,362,367  

TOTO Ltd.

     60,600        2,894,896  
     

 

 

 
Total Building Products               35,683,296  
Capital Markets – 1.0%

 

Monex Group, Inc.

     119,200        624,979  

Nomura Holdings, Inc.

     2,720,045        13,496,006  

SBI Holdings, Inc.(a)

     180,500        4,466,596  

Sparx Group Co., Ltd.(a)

     176,800        488,052  
     

 

 

 
Total Capital Markets               19,075,633  
Chemicals – 6.9%

 

ADEKA Corp.

     96,700        2,191,838  

Arakawa Chemical Industries Ltd.

     25,600        283,131  

Asahi Kasei Corp.

     896,222        9,610,841  

Chugoku Marine Paints Ltd.

     70,000        526,372  

Daicel Corp.

     275,242        2,153,585  

Dainichiseika Color & Chemicals Manufacturing Co., Ltd.

     17,100        421,772  

Denka Co., Ltd.

     60,015        2,113,905  

DIC Corp.

     59,453        1,686,478  

Fujimi, Inc.

     22,000        1,275,734  

Fujimori Kogyo Co., Ltd.

     12,900        562,478  

Fuso Chemical Co., Ltd.

     11,000        499,843  

JCU Corp.

     12,500        499,104  

JSP Corp.

     25,400        369,248  

JSR Corp.

     101,900        3,703,379  

Kaneka Corp.

     42,400        1,784,163  

Kansai Paint Co., Ltd.

     76,100        1,896,106  

KH Neochem Co., Ltd.

     15,900        438,915  

Kumiai Chemical Industry Co., Ltd.

     25,600        201,680  

Kuraray Co., Ltd.

     278,837        2,694,029  

Kureha Corp.

     16,700        1,139,028  

Lintec Corp.

     67,947        1,557,163  

Mitsubishi Chemical Holdings Corp.

     1,097,663        10,069,084  

Mitsubishi Gas Chemical Co., Inc.(a)

     144,082        2,860,333  

Mitsui Chemicals, Inc.

     133,515        4,505,346  

Moriroku Holdings Co., Ltd.

     26,000        486,095  

Nihon Parkerizing Co., Ltd.

     49,400        512,706  

Nippon Kayaku Co., Ltd.

     104,400        1,158,388  

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

September 30, 2021

 

 

 

Investments    Shares      Value  

Nippon Paint Holdings Co., Ltd.

     139,500      $ 1,521,591  

Nippon Sanso Holdings Corp.

     137,553        3,470,416  

Nippon Shokubai Co., Ltd.

     21,200        1,098,239  

Nippon Soda Co., Ltd.

     24,400        792,740  

Nissan Chemical Corp.

     66,753        3,912,746  

Nitto Denko Corp.

     114,674        8,201,645  

NOF Corp.

     46,000        2,605,602  

Okamoto Industries, Inc.

     14,100        521,918  

Osaka Soda Co., Ltd.

     25,600        622,017  

Riken Technos Corp.

     45,500        231,221  

Sakata INX Corp.

     37,000        389,980  

Sanyo Chemical Industries Ltd.

     21,700        1,139,700  

Shikoku Chemicals Corp.

     25,600        321,219  

Shin-Etsu Chemical Co., Ltd.

     116,479        19,730,702  

Shin-Etsu Polymer Co., Ltd.

     46,900        442,203  

Sumitomo Bakelite Co., Ltd.

     16,600        772,162  

Sumitomo Chemical Co., Ltd.

     1,048,085        5,495,225  

Sumitomo Seika Chemicals Co., Ltd.

     12,800        416,437  

T Hasegawa Co., Ltd.

     23,400        559,964  

Taiyo Holdings Co., Ltd.

     40,052        1,022,704  

Takasago International Corp.

     18,800        504,647  

Tayca Corp.

     21,000        253,525  

Teijin Ltd.

     128,900        1,841,511  

Tokai Carbon Co., Ltd.(a)

     121,300        1,566,599  

Tokuyama Corp.

     36,300        698,834  

Tokyo Ohka Kogyo Co., Ltd.

     18,600        1,148,591  

Toray Industries, Inc.

     778,118        4,994,740  

Tosoh Corp.

     199,807        3,642,460  

Toyo Ink SC Holdings Co., Ltd.

     54,700        1,032,473  

Toyobo Co., Ltd.

     40,451        508,289  

Ube Industries Ltd.

     99,500        1,960,125  

Valqua Ltd.

     15,700        302,954  

Zeon Corp.

     64,100        907,712  
     

 

 

 
Total Chemicals               127,831,635  
Commercial Services & Supplies – 0.1%

 

Mitsubishi Pencil Co., Ltd.

     25,600        330,856  

Pilot Corp.

     22,000        839,973  

Sato Holdings Corp.

     26,000        635,698  
     

 

 

 
Total Commercial Services & Supplies               1,806,527  
Construction & Engineering – 0.7%

 

JGC Holdings Corp.

     64,300        604,532  

Kajima Corp.

     426,300        5,509,519  

Obayashi Corp.

     483,600        4,026,569  

Penta-Ocean Construction Co., Ltd.

     283,100        1,935,965  

Taikisha Ltd.

     36,600        1,103,823  
     

 

 

 
Total Construction & Engineering               13,180,408  
Construction Materials – 0.1%

 

Krosaki Harima Corp.

     11,800        515,573  

Taiheiyo Cement Corp.

     55,600        1,159,091  
     

 

 

 
Total Construction Materials               1,674,664  
Consumer Finance – 0.2%

 

Acom Co., Ltd.(a)

     355,400        1,305,973  

AEON Financial Service Co., Ltd.

     197,100        2,527,897  
     

 

 

 
Total Consumer Finance               3,833,870  
Containers & Packaging – 0.0%

 

Fuji Seal International, Inc.

     14,882      323,583  

Toyo Seikan Group Holdings Ltd.(a)

     49,300        582,807  
     

 

 

 
Total Containers & Packaging               906,390  
Diversified Financial Services – 0.4%

 

Mitsubishi HC Capital, Inc.

     1,388,990        7,319,974  
Electrical Equipment – 1.7%

 

Daihen Corp.

     15,800        698,839  

Denyo Co., Ltd.

     23,000        443,200  

Fuji Electric Co., Ltd.

     66,873        3,062,702  

Furukawa Electric Co., Ltd.

     40,281        887,752  

GS Yuasa Corp.

     48,984        1,115,997  

Idec Corp.

     14,300        283,757  

Mabuchi Motor Co., Ltd.

     39,800        1,384,038  

Mitsubishi Electric Corp.(a)

     1,022,014        14,261,939  

Nidec Corp.

     59,516        6,625,039  

Nippon Carbon Co., Ltd.

     11,400        428,107  

Nissin Electric Co., Ltd.

     53,700        659,368  

Sanyo Denki Co., Ltd.

     5,700        363,737  

Sinfonia Technology Co., Ltd.

     26,000        283,594  

Toyo Tanso Co., Ltd.

     8,000        212,019  
     

 

 

 
Total Electrical Equipment               30,710,088  
Electronic Equipment, Instruments & Components – 3.9%

 

Ai Holdings Corp.

     26,000        552,973  

Alps Alpine Co., Ltd.

     55,400        604,770  

Amano Corp.

     40,233        1,037,061  

Anritsu Corp.(a)

     53,300        955,411  

Canon Electronics, Inc.

     25,600        384,086  

Dexerials Corp.

     51,200        1,011,381  

ESPEC Corp.

     25,600        542,172  

Hakuto Co., Ltd.

     25,619        419,731  

Hamamatsu Photonics K.K.

     22,600        1,405,727  

Hirose Electric Co., Ltd.

     11,260        1,880,115  

Horiba Ltd.

     18,900        1,328,039  

Ibiden Co., Ltd.

     23,201        1,289,233  

Iriso Electronics Co., Ltd.

     5,000        204,795  

Japan Aviation Electronics Industry Ltd.

     34,300        502,934  

Kaga Electronics Co., Ltd.

     25,600        694,062  

Keyence Corp.

     18,140        10,892,942  

Kyosan Electric Manufacturing Co., Ltd.

     72,600        344,862  

Macnica Fuji Electronics Holdings, Inc.

     50,900        1,191,582  

Murata Manufacturing Co., Ltd.

     258,968        23,117,377  

Nichicon Corp.(a)

     57,900        551,107  

Nippon Electric Glass Co., Ltd.

     95,660        2,276,292  

Nissha Co., Ltd.(a)

     25,600        410,931  

Oki Electric Industry Co., Ltd.

     71,730        629,385  

Omron Corp.

     62,900        6,257,585  

Optex Group Co., Ltd.

     15,200        208,570  

Restar Holdings Corp.

     26,000        433,897  

Riken Keiki Co., Ltd.

     15,500        425,095  

Ryoden Corp.

     26,000        407,797  

Ryosan Co., Ltd.

     25,645        531,173  

Sanshin Electronics Co., Ltd.(a)

     25,954        400,330  

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

September 30, 2021

 

 

 

Investments    Shares      Value  

Shimadzu Corp.

     52,400      $ 2,308,277  

Siix Corp.

     30,200        325,887  

Taiyo Yuden Co., Ltd.

     30,400        1,800,977  

TDK Corp.

     97,704        3,542,126  

Tokyo Electron Device Ltd.(a)

     10,800        714,354  

V Technology Co., Ltd.(a)

     6,200        249,500  

Yokogawa Electric Corp.

     105,538        1,853,004  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     71,685,540  
Entertainment – 2.6%

 

Capcom Co., Ltd.

     57,200        1,591,808  

GungHo Online Entertainment, Inc.

     17,249        317,230  

Koei Tecmo Holdings Co., Ltd.

     53,122        2,532,906  

Konami Holdings Corp.

     18,700        1,178,230  

Nexon Co., Ltd.

     40,800        660,772  

Nintendo Co., Ltd.

     79,200        38,551,217  

Square Enix Holdings Co., Ltd.

     27,500        1,466,502  

Toei Animation Co., Ltd.(a)

     10,800        1,997,867  
     

 

 

 
Total Entertainment               48,296,532  
Food & Staples Retailing – 1.2%

 

Ministop Co., Ltd.

     25,600        330,856  

Seven & I Holdings Co., Ltd.

     484,924        22,100,278  
     

 

 

 
Total Food & Staples Retailing               22,431,134  
Food Products – 1.1%

 

Ajinomoto Co., Inc.

     159,813        4,735,306  

Ariake Japan Co., Ltd.

     10,000        630,966  

Fuji Oil Holdings, Inc.

     38,000        893,336  

Kagome Co., Ltd.

     24,000        619,494  

Kikkoman Corp.(a)

     30,100        2,452,243  

Nippon Suisan Kaisha Ltd.

     101,600        592,799  

Nisshin Seifun Group, Inc.

     124,000        2,068,241  

Nissin Foods Holdings Co., Ltd.

     37,200        2,987,336  

Riken Vitamin Co., Ltd.

     21,000        353,843  

Sakata Seed Corp.

     11,839        372,439  

Toyo Suisan Kaisha Ltd.

     48,700        2,162,747  

Yakult Honsha Co., Ltd.

     41,987        2,129,925  
     

 

 

 
Total Food Products               19,998,675  
Health Care Equipment & Supplies – 1.3%

 

Asahi Intecc Co., Ltd.(a)

     11,800        324,678  

Hoya Corp.

     47,757        7,479,754  

Jeol Ltd.

     10,400        765,261  

Mani, Inc.

     20,100        384,436  

Nakanishi, Inc.

     27,800        633,613  

Nihon Kohden Corp.

     27,600        939,995  

Nipro Corp.

     47,700        496,773  

Olympus Corp.

     128,100        2,820,324  

Sysmex Corp.

     40,060        5,001,441  

Terumo Corp.

     98,512        4,666,242  
     

 

 

 
Total Health Care Equipment & Supplies               23,512,517  
Health Care Technology – 0.1%

 

M3, Inc.

     25,100        1,797,887  
Hotels, Restaurants & Leisure – 0.0%

 

Saizeriya Co., Ltd.

     4,800      125,447  
Household Durables – 2.3%

 

Casio Computer Co., Ltd.(a)

     96,457        1,605,384  

Fujitsu General Ltd.(a)

     25,600        638,996  

Panasonic Corp.

     1,244,970        15,509,821  

Rinnai Corp.

     13,100        1,439,444  

Sekisui Chemical Co., Ltd.

     226,200        3,906,676  

Sharp Corp.

     137,500        1,746,247  

Sony Group Corp.

     139,900        15,616,890  

Sumitomo Forestry Co., Ltd.

     59,000        1,133,731  

Tamron Co., Ltd.

     23,100        552,371  

Toa Corp.

     25,600        190,896  

Zojirushi Corp.

     22,400        360,568  
     

 

 

 
Total Household Durables               42,701,024  
Household Products – 0.2%

 

Lion Corp.(a)

     55,400        897,721  

Pigeon Corp.

     33,700        785,301  

Unicharm Corp.(a)

     67,200        2,980,711  
     

 

 

 
Total Household Products               4,663,733  
Independent Power & Renewable Electricity Producers – 0.1%

 

Electric Power Development Co., Ltd.

     167,200        2,423,145  
Industrial Conglomerates – 1.7%

 

Hitachi Ltd.

     482,505        28,714,615  

Nisshinbo Holdings, Inc.(a)

     136,624        1,038,379  

Toshiba Corp.

     63,300        2,674,968  
     

 

 

 
Total Industrial Conglomerates               32,427,962  
Insurance – 3.2%

 

Dai-ichi Life Holdings, Inc.

     872,800        19,345,144  

Sompo Holdings, Inc.

     271,000        11,855,263  

Tokio Marine Holdings, Inc.

     537,100        28,983,904  
     

 

 

 
Total Insurance               60,184,311  
Internet & Direct Marketing Retail – 0.1%

 

Rakuten Group Inc.

     119,900        1,161,657  
IT Services – 1.6%

 

Fujitsu Ltd.

     90,532        16,479,542  

NEC Corp.

     107,600        5,853,748  

NTT Data Corp.

     372,000        7,218,284  
     

 

 

 
Total IT Services               29,551,574  
Leisure Products – 0.9%

 

Bandai Namco Holdings, Inc.

     67,500        5,081,784  

Mizuno Corp.

     26,000        624,513  

Sega Sammy Holdings, Inc.

     147,600        2,107,343  

Shimano, Inc.

     16,600        4,894,824  

Tomy Co., Ltd.

     46,800        478,591  

Yamaha Corp.

     46,607        2,944,919  
     

 

 

 
Total Leisure Products               16,131,974  
Machinery – 4.7%

 

Aida Engineering Ltd.

     47,300        447,246  

Amada Co., Ltd.

     301,593        3,146,352  

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

September 30, 2021

 

 

 

Investments    Shares      Value  

Anest Iwata Corp.

     25,600      $ 214,299  

CKD Corp.

     22,000        471,647  

Daifuku Co., Ltd.

     23,900        2,253,444  

DMG Mori Co., Ltd.

     58,400        1,104,405  

Ebara Corp.

     33,431        1,662,936  

FANUC Corp.

     39,289        8,650,094  

Fujitec Co., Ltd.

     55,000        1,287,071  

Furukawa Co., Ltd.

     40,300        443,183  

Glory Ltd.

     37,000        829,039  

Harmonic Drive Systems, Inc.(a)

     4,400        212,951  

Hitachi Construction Machinery Co., Ltd.

     47,400        1,348,824  

Hitachi Zosen Corp.

     143,900        1,110,445  

Hokuetsu Industries Co., Ltd.

     25,600        229,442  

Hoshizaki Corp.

     16,069        1,466,121  

Iseki & Co., Ltd.*

     25,600        383,398  

Japan Steel Works Ltd. (The)

     28,600        747,714  

Juki Corp.

     37,700        282,475  

Kito Corp.

     26,000        421,313  

Kitz Corp.

     66,000        466,717  

Komatsu Ltd.

     422,106        10,195,614  

Kubota Corp.

     425,202        9,104,258  

Kurita Water Industries Ltd.

     42,400        2,052,073  

Makita Corp.

     55,138        3,039,200  

Meidensha Corp.

     21,900        485,794  

MINEBEA MITSUMI, Inc.

     110,201        2,828,731  

MISUMI Group, Inc.

     22,500        958,884  

Mitsubishi Heavy Industries Ltd.

     216,719        5,873,702  

Mitsubishi Logisnext Co., Ltd.

     40,000        415,505  

Mitsuboshi Belting Ltd.

     25,600        479,305  

Miura Co., Ltd.

     21,200        853,130  

Nabtesco Corp.

     51,200        1,950,258  

Nachi-Fujikoshi Corp.

     12,400        509,559  

NGK Insulators Ltd.

     139,975        2,387,384  

Nikkiso Co., Ltd.

     48,100        417,736  

Nippon Thompson Co., Ltd.

     60,000        300,605  

Nissei ASB Machine Co., Ltd.(a)

     6,300        217,387  

Nitta Corp.

     26,000        640,125  

NSK Ltd.(a)

     185,166        1,262,929  

Obara Group, Inc.(a)

     14,400        503,339  

Oiles Corp.

     25,600        377,891  

OKUMA Corp.

     11,400        555,823  

Organo Corp.

     8,000        492,583  

OSG Corp.

     35,924        621,084  

Shibaura Machine Co., Ltd.

     25,900        639,985  

Shibuya Corp.

     16,200        447,197  

Shinmaywa Industries Ltd.

     61,400        514,533  

SMC Corp.

     8,751        5,496,483  

Star Micronics Co., Ltd.

     34,900        487,020  

Sumitomo Heavy Industries Ltd.

     41,737        1,100,144  

Takeuchi Manufacturing Co., Ltd.

     19,400        453,637  

THK Co., Ltd.

     21,979        487,547  

Tsubakimoto Chain Co.

     23,500        734,013  

Tsugami Corp.

     28,200        430,677  

Union Tool Co.

     11,800        417,217  

YAMABIKO Corp.

     10,500      116,787  

Yaskawa Electric Corp.

     47,600        2,303,742  
     

 

 

 
Total Machinery               87,330,997  
Marine – 0.5%

 

Iino Kaiun Kaisha Ltd.

     146,100        687,453  

Nippon Yusen K.K.(a)

     98,400        7,452,207  

NS United Kaiun Kaisha Ltd.

     22,800        840,887  
     

 

 

 
Total Marine               8,980,547  
Media – 0.3%

 

Dentsu Group, Inc.(a)

     162,600        6,273,744  
Metals & Mining – 0.6%

 

Asahi Holdings, Inc.

     95,200        1,732,073  

Daido Steel Co., Ltd.

     19,900        849,863  

Daiki Aluminium Industry Co., Ltd.

     58,800        874,820  

Dowa Holdings Co., Ltd.

     30,900        1,224,091  

Kyoei Steel Ltd.

     43,300        537,878  

Maruichi Steel Tube Ltd.

     48,700        1,133,096  

Mitsubishi Materials Corp.

     48,800        958,724  

Mitsui Mining & Smelting Co., Ltd.

     33,800        949,702  

Nippon Yakin Kogyo Co., Ltd.

     7,510        178,840  

Sumitomo Metal Mining Co., Ltd.

     82,300        2,998,427  

UACJ Corp.*

     12,100        318,401  
     

 

 

 
Total Metals & Mining               11,755,915  
Multiline Retail – 0.1%

 

Ryohin Keikaku Co., Ltd.(a)

     54,100        1,212,189  
Oil, Gas & Consumable Fuels – 2.0%

 

ENEOS Holdings, Inc.

     3,707,300        15,148,179  

Idemitsu Kosan Co., Ltd.

     354,400        9,357,494  

Inpex Corp.

     1,621,200        12,728,400  
     

 

 

 
Total Oil, Gas & Consumable Fuels               37,234,073  
Paper & Forest Products – 0.2%

 

Hokuetsu Corp.(a)

     146,600        903,973  

Oji Holdings Corp.

     580,200        2,938,051  
     

 

 

 
Total Paper & Forest Products               3,842,024  
Personal Products – 1.1%

 

Kao Corp.

     239,980        14,313,842  

Kose Corp.

     13,200        1,582,935  

Mandom Corp.

     25,400        365,605  

Rohto Pharmaceutical Co., Ltd.

     30,600        940,695  

Shiseido Co., Ltd.

     58,422        3,946,463  
     

 

 

 
Total Personal Products               21,149,540  
Pharmaceuticals – 8.7%

 

Astellas Pharma, Inc.

     995,604        16,440,962  

Chugai Pharmaceutical Co., Ltd.

     629,800        23,159,932  

Daiichi Sankyo Co., Ltd.

     564,963        15,086,778  

Eisai Co., Ltd.

     153,577        11,556,644  

Hisamitsu Pharmaceutical Co., Inc.

     30,900        1,175,626  

Kyowa Kirin Co., Ltd.

     169,770        6,124,349  

Nichi-iko Pharmaceutical Co., Ltd.(a)

     35,200        283,619  

Ono Pharmaceutical Co., Ltd.

     200,800        4,594,599  

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

September 30, 2021

 

 

 

Investments    Shares      Value  

Otsuka Holdings Co., Ltd.

     379,400      $ 16,277,731  

Santen Pharmaceutical Co., Ltd.

     104,300        1,473,241  

Sawai Group Holdings Co., Ltd.

     33,600        1,565,942  

Shionogi & Co., Ltd.

     123,777        8,491,052  

Sumitomo Dainippon Pharma Co., Ltd.

     173,700        3,110,487  

Takeda Pharmaceutical Co., Ltd.

     1,535,863        50,917,833  

ZERIA Pharmaceutical Co., Ltd.

     25,600        472,421  
     

 

 

 
Total Pharmaceuticals               160,731,216  
Professional Services – 0.8%

 

BeNext-Yumeshin Group Co.

     35,100        412,108  

Outsourcing, Inc.

     62,400        1,132,512  

Persol Holdings Co., Ltd.

     66,400        1,672,274  

Recruit Holdings Co., Ltd.

     181,600        11,119,796  

Weathernews, Inc.

     4,600        271,692  
     

 

 

 
Total Professional Services               14,608,382  
Road & Rail – 0.4%

 

Hitachi Transport System Ltd.

     45,600        2,033,251  

Nippon Express Co., Ltd.

     69,800        4,829,541  
     

 

 

 
Total Road & Rail               6,862,792  
Semiconductors & Semiconductor Equipment – 3.6%

 

Advantest Corp.

     54,600        4,908,250  

Disco Corp.

     10,500        2,950,258  

Ferrotec Holdings Corp.

     17,900        511,772  

Lasertec Corp.

     13,100        3,004,517  

Optorun Co., Ltd.

     21,300        446,522  

Rohm Co., Ltd.

     32,600        3,108,797  

SCREEN Holdings Co., Ltd.(a)

     6,760        582,242  

Shibaura Mechatronics Corp.(a)

     6,300        381,698  

Shinko Electric Industries Co., Ltd.(a)

     37,559        1,258,980  

SUMCO Corp.

     100,900        2,035,634  

Tokyo Electron Ltd.

     101,253        45,074,941  

Tokyo Seimitsu Co., Ltd.

     15,700        649,388  

Ulvac, Inc.

     17,400        999,632  

Yamaichi Electronics Co., Ltd.

     18,600        276,729  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     66,189,360  
Software – 0.3%

 

Trend Micro, Inc.

     104,608        5,831,609  
Specialty Retail – 0.7%

 

ABC-Mart, Inc.

     47,500        2,694,824  

Fast Retailing Co., Ltd.

     12,400        9,166,498  

IDOM, Inc.

     13,800        125,044  

VT Holdings Co., Ltd.

     128,200        634,250  
     

 

 

 
Total Specialty Retail               12,620,616  
Technology Hardware, Storage & Peripherals – 3.6%

 

Brother Industries Ltd.

     137,143        3,032,326  

Canon, Inc.(a)

     1,608,697        39,512,742  

Eizo Corp.

     13,600        521,085  

FUJIFILM Holdings Corp.

     165,495        14,297,166  

MCJ Co., Ltd.

     65,200        702,985  

Seiko Epson Corp.

     394,900        7,995,331  

Wacom Co., Ltd.

    38,800      248,292  
    

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     66,309,927  
Textiles, Apparel & Luxury Goods – 0.3%

 

Asics Corp.

    52,692        1,209,921  

Kurabo Industries Ltd.

    17,947        331,354  

Onward Holdings Co., Ltd.

    381,000        1,236,137  

Seiko Holdings Corp.

    56,300        1,141,895  

Seiren Co., Ltd.

    25,610        482,705  

Wacoal Holdings Corp.

    25,600        544,466  
    

 

 

 
Total Textiles, Apparel & Luxury Goods              4,946,478  
Tobacco – 3.0%

 

Japan Tobacco, Inc.

    2,872,631        56,384,153  
Trading Companies & Distributors – 7.9%

 

Alconix Corp.

    26,000        377,504  

Hanwa Co., Ltd.

    25,600        797,311  

Inabata & Co., Ltd.

    59,286        920,308  

ITOCHU Corp.(a)

    1,483,694        43,576,655  

Marubeni Corp.

    1,445,278        12,088,133  

Mitsubishi Corp.

    1,609,900        51,020,447  

Nagase & Co., Ltd.

    110,800        1,878,858  

Nippon Steel Trading Corp.

    25,600        1,160,977  

Sanyo Trading Co., Ltd.

    25,800        271,238  

Sojitz Corp.

    267,304        4,408,150  

Sumitomo Corp.

    1,347,277        19,096,738  

Toyota Tsusho Corp.

    233,010        9,930,205  
    

 

 

 
Total Trading Companies & Distributors

 

     145,526,524  
Transportation Infrastructure – 0.0%

 

Nissin Corp.

    25,600        379,727  
Wireless Telecommunication Services – 0.8%

 

SoftBank Group Corp.

    246,100        14,292,879  

TOTAL COMMON STOCKS

(Cost: $1,761,898,192)

 

 

     1,834,257,329  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.6%

 

United States – 0.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(b)

    
(Cost: $11,800,278)     11,800,278        11,800,278  

TOTAL INVESTMENTS IN SECURITIES – 99.6%

(Cost: $1,773,698,470)

 

 

     1,846,057,607  

Other Assets less Liabilities – 0.4%

 

     6,960,677  
    

 

 

 
NET ASSETS – 100.0%

 

   $ 1,853,018,284  
* 

Non-income producing security.

(a) 

Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $25,833,872 and the total market value of the collateral held by the Fund was $27,167,971. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $15,367,693.

(b) 

Rate shown represents annualized 7-day yield as of September 30, 2021.

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (concluded)

WisdomTree Japan Hedged Equity Fund (DXJ)

September 30, 2021

 

 

 

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 N.A.

    10/5/2021       49,128,585,822       JPY       440,316,573       USD      $ 5,081      $  

Bank of America N.A.

    10/5/2021       437,295,533       USD       48,028,649,414       JPY        6,832,209         

Bank of America N.A.

    10/5/2021       27,189,360       USD       2,980,568,335       JPY        475,609         

Bank of America N.A.

    11/4/2021       466,350,649       USD       52,023,187,028       JPY               (9,615

Citibank N.A.

    10/5/2021       5,314,463,614       JPY       48,336,639       USD               (705,034

Citibank N.A.

    10/5/2021       1,333,041,150       JPY       12,084,160       USD               (136,597

Citibank N.A.

    10/5/2021       49,128,365,664       JPY       440,316,573       USD        3,108         

Citibank N.A.

    10/5/2021       437,295,533       USD       48,028,430,766       JPY        6,834,169         

Citibank N.A.

    10/5/2021       30,210,400       USD       3,317,346,624       JPY        478,228         

Citibank N.A.

    11/4/2021       466,350,649       USD       52,023,093,758       JPY               (8,779

Goldman Sachs

    10/5/2021       1,319,457,346       JPY       12,084,160       USD               (258,344

Goldman Sachs

    10/5/2021       49,128,497,759       JPY       440,316,573       USD        4,292         

Goldman Sachs

    10/5/2021       437,295,533       USD       48,028,124,659       JPY        6,836,912         

Goldman Sachs

    10/5/2021       21,147,280       USD       2,346,927,249       JPY        112,624         

Goldman Sachs

    11/4/2021       466,350,649       USD       52,023,000,488       JPY               (7,943

JP Morgan Chase Bank N.A.

    10/1/2021       59,992,987       JPY       537,957       USD               (265

JP Morgan Chase Bank N.A.

    10/5/2021       334,418,856       JPY       3,021,040       USD               (23,765

JP Morgan Chase Bank N.A.

    10/5/2021       49,128,453,727       JPY       440,316,573       USD        3,897         

JP Morgan Chase Bank N.A.

    10/5/2021       437,295,532       USD       48,028,386,927       JPY        6,834,561         

JP Morgan Chase Bank N.A.

    11/4/2021       466,350,649       USD       52,023,187,028       JPY               (9,615

UBS AG

    10/5/2021       9,063,120       USD       998,095,122       JPY        117,556         
                                             $ 28,538,246      $ (1,159,957

 

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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

   $ 1,834,257,329      $      $      $ 1,834,257,329  

Investment of Cash Collateral for Securities Loaned

            11,800,278               11,800,278  

Total Investments in Securities

   $ 1,834,257,329      $ 11,800,278      $      $ 1,846,057,607  
Financial Derivative Instruments   

Foreign Currency Contracts1

   $      $ 28,538,246      $      $ 28,538,246  
Liabilities:

 

     
Financial Derivative Instruments   

Foreign Currency Contracts1

   $      $ (1,159,957    $      $ (1,159,957

Total – Net

   $ 1,834,257,329      $ 39,178,567      $      $ 1,873,435,896  

 

1 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Table of Contents

Schedule of Investments (unaudited)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.0%      
Japan – 99.0%      
Air Freight & Logistics – 0.4%      

Kintetsu World Express, Inc.

     2,200      $ 56,136  

Konoike Transport Co., Ltd.

     2,200        25,278  

Maruwa Unyu Kikan Co., Ltd.(a)

     1,300        18,712  

Mitsui-Soko Holdings Co., Ltd.

     1,800        40,816  

SBS Holdings, Inc.

     1,100        41,654  
     

 

 

 
Total Air Freight & Logistics

 

     182,596  
Auto Components – 5.3%      

Daido Metal Co., Ltd.

     7,600        42,027  

Daikyonishikawa Corp.

     8,100        47,406  

Eagle Industry Co., Ltd.

     6,300        70,129  

Exedy Corp.

     5,200        79,835  

FCC Co., Ltd.

     3,000        42,429  

Futaba Industrial Co., Ltd.

     4,700        20,135  

G-Tekt Corp.

     3,898        51,042  

JTEKT Corp.

     33,200        291,011  

Musashi Seimitsu Industry Co., Ltd.

     2,100        36,871  

NHK Spring Co., Ltd.

     8,000        57,432  

Nifco, Inc.

     5,200        162,420  

Nihon Tokushu Toryo Co., Ltd.

     2,700        25,336  

NOK Corp.

     7,300        86,167  

Pacific Industrial Co., Ltd.

     3,700        39,197  

Riken Corp.

     1,300        33,078  

Shoei Co., Ltd.

     1,500        67,757  

Sumitomo Riko Co., Ltd.

     5,900        40,558  

Sumitomo Rubber Industries Ltd.

     17,200        219,519  

Tokai Rika Co., Ltd.

     6,925        99,740  

Topre Corp.

     3,600        42,881  

Toyo Tire Corp.(a)

     9,000        161,730  

Toyoda Gosei Co., Ltd.

     5,100        102,709  

Toyota Boshoku Corp.

     10,100        180,230  

TPR Co., Ltd.

     3,006        40,520  

TS Tech Co., Ltd.

     8,000        103,607  

Yokohama Rubber Co., Ltd. (The)

     15,300        276,312  
     

 

 

 
Total Auto Components

 

     2,420,078  
Automobiles – 0.1%      

Nissan Shatai Co., Ltd.

     4,900        35,177  
Banks – 6.5%      

77 Bank Ltd. (The)

     5,500        62,899  

Aichi Bank Ltd. (The)

     1,000        32,534  

Akita Bank Ltd. (The)

     2,700        35,282  

Aomori Bank Ltd. (The)

     1,100        21,187  

Awa Bank Ltd. (The)

     1,900        37,293  

Bank of Iwate Ltd. (The)

     1,200        18,499  

Bank of Nagoya Ltd. (The)(a)

     1,200        28,533  

Bank of Okinawa Ltd. (The)*

     1,240        31,018  

Bank of Saga Ltd. (The)

     3,300        43,507  

Bank of the Ryukyus Ltd.

     3,000        21,134  

Chugoku Bank Ltd. (The)

     9,300        71,933  

Chukyo Bank Ltd. (The)

     1,100        13,723  

Daishi Hokuetsu Financial Group, Inc.

     5,700        130,016  

Ehime Bank Ltd. (The)

     1,700      12,022  

FIDEA Holdings Co., Ltd.(a)

     2,900        33,009  

Fukui Bank Ltd. (The)

     1,300        18,316  

Gunma Bank Ltd. (The)

     34,300        110,977  

Hachijuni Bank Ltd. (The)

     37,300        133,387  

Hokkoku Bank Ltd. (The)*

     1,200        23,382  

Hokuhoku Financial Group, Inc.

     11,300        86,795  

Hyakugo Bank Ltd. (The)

     15,300        44,704  

Hyakujushi Bank Ltd. (The)

     3,000        41,999  

Iyo Bank Ltd. (The)

     21,300        109,960  

Jimoto Holdings, Inc.(a)

     2,340        14,366  

Juroku Bank Ltd. (The)

     3,200        62,695  

Keiyo Bank Ltd. (The)

     9,100        36,702  

Kiyo Bank Ltd. (The)

     3,798        54,021  

Kyushu Financial Group, Inc.

     23,200        83,589  

Mebuki Financial Group, Inc.

     127,100        280,229  

Miyazaki Bank Ltd. (The)

     1,800        33,782  

Musashino Bank Ltd. (The)(a)

     3,900        64,350  

Nanto Bank Ltd. (The)

     3,100        55,790  

Nishi-Nippon Financial Holdings, Inc.

     15,900        102,176  

North Pacific Bank Ltd.(a)

     40,300        92,104  

Ogaki Kyoritsu Bank Ltd. (The)

     2,300        40,857  

Oita Bank Ltd. (The)

     1,300        21,986  

San ju San Financial Group, Inc.

     3,100        39,342  

San-In Godo Bank Ltd. (The)

     11,100        56,109  

Senshu Ikeda Holdings, Inc.

     30,800        45,548  

Seven Bank Ltd.(a)

     168,900        376,931  

Shiga Bank Ltd. (The)

     2,000        34,165  

Shikoku Bank Ltd. (The)

     4,200        27,818  

Suruga Bank Ltd.(a)

     8,100        30,200  

Tochigi Bank Ltd. (The)

     10,100        16,656  

Toho Bank Ltd. (The)

     12,900        24,742  

Tokyo Kiraboshi Financial Group, Inc.(a)

     3,200        44,168  

TOMONY Holdings, Inc.

     9,300        27,590  

Towa Bank Ltd. (The)

     3,900        18,980  

Yamagata Bank Ltd. (The)

     1,300        9,997  

Yamaguchi Financial Group, Inc.

     19,900        118,785  

Yamanashi Chuo Bank Ltd. (The)

     2,800        21,256  
     

 

 

 
Total Banks

 

     2,997,043  
Beverages – 0.4%      

Sapporo Holdings Ltd.

     3,700        85,391  

Takara Holdings, Inc.

     7,900        114,632  
     

 

 

 
Total Beverages

 

     200,023  
Building Products – 2.2%      

Aica Kogyo Co., Ltd.

     4,800        164,983  

Bunka Shutter Co., Ltd.(a)

     5,300        53,724  

Central Glass Co., Ltd.

     2,300        43,124  

Kondotec, Inc.

     2,300        20,511  

Nichias Corp.

     5,200        127,606  

Nichiha Corp.

     1,000        28,680  

Nihon Flush Co., Ltd.(a)

     1,300        13,399  

Nippon Aqua Co., Ltd.

     3,300        18,190  

Nitto Boseki Co., Ltd.

     800        26,888  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

Investments    Shares      Value  

Noritz Corp.

     2,000      $ 32,803  

Okabe Co., Ltd.

     4,100        25,833  

Sanwa Holdings Corp.

     16,200        211,402  

Shin Nippon Air Technologies Co., Ltd.(a)

     1,700        37,360  

Sinko Industries Ltd.

     2,800        53,603  

Takara Standard Co., Ltd.

     3,117        45,564  

Takasago Thermal Engineering Co., Ltd.

     5,100        97,132  
     

 

 

 
Total Building Products

 

     1,000,802  
Capital Markets – 1.7%      

GMO Financial Holdings, Inc.(a)

     16,800        128,588  

Ichiyoshi Securities Co., Ltd.(a)

     7,800        48,097  

IwaiCosmo Holdings, Inc.

     5,000        62,290  

Kyokuto Securities Co., Ltd.(a)

     4,100        29,875  

Marusan Securities Co., Ltd.(a)

     7,100        40,662  

Matsui Securities Co., Ltd.

     25,800        188,225  

Mito Securities Co., Ltd.

     8,700        23,704  

Monex Group, Inc.

     12,165        63,783  

Morningstar Japan K.K.

     8,299        38,975  

Okasan Securities Group, Inc.(a)

     10,700        39,031  

Sparx Group Co., Ltd.(a)

     18,300        50,517  

Tokai Tokyo Financial Holdings, Inc.

     19,600        71,496  
     

 

 

 
Total Capital Markets

 

     785,243  
Chemicals – 9.5%      

ADEKA Corp.

     11,300        256,130  

Arakawa Chemical Industries Ltd.(a)

     2,300        25,438  

Asahi Yukizai Corp.

     2,700        35,814  

C.I. Takiron Corp.

     11,800        67,262  

Chugoku Marine Paints Ltd.

     8,100        60,909  

Daicel Corp.

     31,300        244,902  

Dainichiseika Color & Chemicals Manufacturing Co., Ltd.

     1,200        29,598  

Denka Co., Ltd.

     7,000        246,561  

DIC Corp.

     6,700        190,056  

Fujimi, Inc.

     2,400        139,171  

Fujimori Kogyo Co., Ltd.

     1,000        43,603  

Fuso Chemical Co., Ltd.

     1,500        68,160  

Hokko Chemical Industry Co., Ltd.

     2,100        21,438  

JCU Corp.

     900        35,935  

JSP Corp.

     2,117        30,775  

Kaneka Corp.

     4,848        204,001  

KH Neochem Co., Ltd.

     2,000        55,210  

Koatsu Gas Kogyo Co., Ltd.

     3,700        25,335  

Konishi Co., Ltd.(a)

     2,000        32,104  

Kumiai Chemical Industry Co., Ltd.

     3,694        29,102  

Kureha Corp.

     1,800        122,769  

Lintec Corp.

     7,900        181,047  

Moriroku Holdings Co., Ltd.

     1,200        22,435  

Nihon Nohyaku Co., Ltd.

     6,800        33,581  

Nihon Parkerizing Co., Ltd.

     7,100        73,689  

Nippon Kayaku Co., Ltd.

     12,100        134,258  

Nippon Pillar Packing Co., Ltd.(a)

     2,300        55,575  

Nippon Shokubai Co., Ltd.

     2,500        129,509  

Nippon Soda Co., Ltd.

     2,600        84,472  

Okamoto Industries, Inc.

     900      33,314  

Osaka Organic Chemical Industry Ltd.(a)

     1,100        37,611  

Osaka Soda Co., Ltd.

     2,177        52,896  

Sakata INX Corp.

     4,200        44,268  

Sanyo Chemical Industries Ltd.

     2,200        115,546  

Sekisui Kasei Co., Ltd.

     4,200        22,360  

Shikoku Chemicals Corp.

     2,900        36,388  

Shin-Etsu Polymer Co., Ltd.

     5,200        49,029  

Sumitomo Bakelite Co., Ltd.

     2,000        93,032  

Sumitomo Seika Chemicals Co., Ltd.

     1,200        39,041  

T Hasegawa Co., Ltd.

     2,700        64,611  

Taiyo Holdings Co., Ltd.

     4,200        107,244  

Takasago International Corp.

     1,100        29,527  

Tayca Corp.

     1,300        15,694  

Tokai Carbon Co., Ltd.

     14,700        189,852  

Tokuyama Corp.

     4,100        78,932  

Tokyo Ohka Kogyo Co., Ltd.

     1,800        111,154  

Toyo Ink SC Holdings Co., Ltd.

     6,000        113,251  

Toyobo Co., Ltd.

     4,900        61,571  

Ube Industries Ltd.(a)

     11,080        218,273  

Valqua Ltd.

     2,300        44,382  

Zeon Corp.

     8,100        114,703  
     

 

 

 
Total Chemicals

 

     4,351,518  
Commercial Services & Supplies – 1.7%      

Aeon Delight Co., Ltd.

     2,200        70,096  

CTS Co., Ltd.(a)

     2,000        14,448  

Daiseki Co., Ltd.

     2,040        89,316  

Japan Elevator Service Holdings Co., Ltd.

     900        20,779  

Kokuyo Co., Ltd.

     5,800        98,508  

Matsuda Sangyo Co., Ltd.

     1,300        33,929  

Mitsubishi Pencil Co., Ltd.

     2,800        36,187  

Nippon Air Conditioning Services Co., Ltd.

     4,900        34,957  

Nippon Kanzai Co., Ltd.(a)

     1,900        43,866  

Nippon Parking Development Co., Ltd.

     23,300        33,204  

Okamura Corp.

     7,200        105,636  

Pilot Corp.

     1,200        45,817  

Sato Holdings Corp.

     2,100        51,345  

Studio Alice Co., Ltd.

     1,200        26,307  

Takara & Co. Ltd.(a)

     1,000        16,168  

Toppan Forms Co., Ltd.

     5,400        49,705  
     

 

 

 
Total Commercial Services & Supplies

 

     770,268  
Construction & Engineering – 6.5%      

Asanuma Corp.

     1,100        45,351  

Dai-Dan Co., Ltd.

     2,000        47,555  

Daiho Corp.

     900        30,813  

Fudo Tetra Corp.(a)

     2,100        33,935  

Hazama Ando Corp.

     14,800        106,515  

JDC Corp.

     10,200        55,491  

JGC Holdings Corp.

     5,900        55,470  

Kandenko Co., Ltd.

     16,100        134,197  

Kumagai Gumi Co., Ltd.

     3,800        98,870  

Kyudenko Corp.

     3,900        129,680  

Maeda Corp.*(a)

     7,300        58,819  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

Investments    Shares      Value  

Maeda Road Construction Co., Ltd.*

     8,100      $ 148,803  

Meisei Industrial Co., Ltd.

     4,000        26,744  

Mirait Holdings Corp.

     4,244        84,595  

Nippon Densetsu Kogyo Co., Ltd.

     1,800        30,588  

Nippon Koei Co., Ltd.

     1,000        32,221  

Nishimatsu Construction Co., Ltd.(a)

     4,800        149,496  

Nittoc Construction Co., Ltd.

     6,300        40,428  

Okumura Corp.

     3,800        102,173  

Oriental Shiraishi Corp.*

     15,300        36,613  

Penta-Ocean Construction Co., Ltd.

     24,800        169,594  

Raito Kogyo Co., Ltd.

     3,800        67,434  

Raiznext Corp.

     5,300        57,240  

Sanki Engineering Co., Ltd.

     12,200        162,156  

Seikitokyu Kogyo Co., Ltd.

     6,100        46,252  

Shinnihon Corp.

     2,200        16,878  

SHO-BOND Holdings Co., Ltd.

     2,000        88,909  

Sumitomo Densetsu Co., Ltd.(a)

     2,700        56,408  

Sumitomo Mitsui Construction Co., Ltd.

     17,340        77,861  

Taihei Dengyo Kaisha Ltd.

     1,300        32,997  

Taikisha Ltd.

     3,000        90,477  

Takamatsu Construction Group Co., Ltd.

     2,800        50,717  

Tekken Corp.

     1,100        17,963  

Toa Corp.(a)

     1,700        37,558  

Toa Road Corp.

     800        33,197  

Tobishima Corp.

     3,000        29,980  

Toda Corp.

     22,200        156,589  

Tokyu Construction Co., Ltd.(a)

     11,900        83,937  

Totetsu Kogyo Co., Ltd.

     2,800        61,960  

Toyo Construction Co., Ltd.

     7,100        37,417  

Wakachiku Construction Co., Ltd.(a)

     1,200        22,220  

Yahagi Construction Co., Ltd.

     4,700        33,868  

Yokogawa Bridge Holdings Corp.

     2,200        48,111  

Yurtec Corp.(a)

     4,700        30,835  
     

 

 

 
Total Construction & Engineering

 

     2,958,915  
Construction Materials – 0.6%      

Asia Pile Holdings Corp.

     7,700        33,264  

Krosaki Harima Corp.

     1,000        43,693  

Shinagawa Refractories Co., Ltd.

     1,800        63,724  

Sumitomo Osaka Cement Co., Ltd.

     3,000        84,024  

Vertex Corp.

     1,300        38,216  
     

 

 

 
Total Construction Materials

 

     262,921  
Consumer Finance – 1.5%      

AEON Financial Service Co., Ltd.

     20,900        268,052  

Credit Saison Co., Ltd.

     15,000        198,431  

Jaccs Co., Ltd.(a)

     3,800        104,047  

Orient Corp.

     94,100        140,001  
     

 

 

 
Total Consumer Finance

 

     710,531  
Containers & Packaging – 0.9%      

Fuji Seal International, Inc.

     2,200        47,835  

Hokkan Holdings Ltd.

     1,900        24,607  

Kohsoku Corp.

     1,300        17,535  

Pack Corp. (The)

     900        25,046  

Rengo Co., Ltd.

     23,081      181,421  

Tomoku Co., Ltd.(a)

     1,800        31,297  

Toyo Seikan Group Holdings Ltd.(a)

     6,100        72,112  
     

 

 

 
Total Containers & Packaging

 

     399,853  
Distributors – 0.2%      

Arata Corp.

     800        31,656  

Doshisha Co., Ltd.

     2,900        45,667  

Happinet Corp.

     2,300        31,024  
     

 

 

 
Total Distributors

 

     108,347  
Diversified Consumer Services – 0.5%      

Asante, Inc.

     1,300        20,763  

Benesse Holdings, Inc.

     4,500        101,918  

Japan Best Rescue System Co., Ltd.

     2,000        22,621  

Riso Kyoiku Co., Ltd.

     8,100        31,943  

Sprix Ltd.

     1,200        11,121  

Tokyo Individualized Educational Institute, Inc.

     6,000        35,922  
     

 

 

 
Total Diversified Consumer Services

 

     224,288  
Diversified Financial Services – 1.0%      

eGuarantee, Inc.

     700        15,603  

Fuyo General Lease Co., Ltd.

     2,200        152,418  

Japan Investment Adviser Co., Ltd.(a)

     1,800        21,989  

Japan Securities Finance Co., Ltd.(a)

     9,200        71,571  

Mizuho Leasing Co., Ltd.(a)

     3,100        101,134  

NEC Capital Solutions Ltd.

     1,800        34,266  

Ricoh Leasing Co., Ltd.

     2,100        69,921  
     

 

 

 
Total Diversified Financial Services

 

     466,902  
Diversified Telecommunication Services – 0.3%      

ARTERIA Networks Corp.

     5,100        75,466  

Asahi Net, Inc.

     2,000        13,784  

Internet Initiative Japan, Inc.(a)

     2,000        69,819  
     

 

 

 
Total Diversified Telecommunication Services

 

     159,069  
Electric Utilities – 0.7%      

Hokkaido Electric Power Co., Inc.

     10,200        48,909  

Hokuriku Electric Power Co.

     12,700        68,637  

Okinawa Electric Power Co., Inc. (The)

     6,983        90,186  

Shikoku Electric Power Co., Inc.

     18,200        126,580  
     

 

 

 
Total Electric Utilities

 

     334,312  
Electrical Equipment – 1.3%      

Daihen Corp.

     1,400        61,923  

Denyo Co., Ltd.

     1,200        23,123  

Furukawa Electric Co., Ltd.

     3,726        82,117  

GS Yuasa Corp.

     3,700        84,297  

Idec Corp.

     1,800        35,718  

Mabuchi Motor Co., Ltd.

     3,200        111,279  

Nippon Carbon Co., Ltd.

     1,000        37,553  

Nissin Electric Co., Ltd.

     4,900        60,166  

Nitto Kogyo Corp.

     3,000        47,215  

Sanyo Denki Co., Ltd.

     300        19,144  

Tatsuta Electric Wire and Cable Co., Ltd.

     5,900        28,396  
     

 

 

 
Total Electrical Equipment

 

     590,931  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

Investments    Shares      Value  
Electronic Equipment, Instruments & Components – 5.4%

 

Ai Holdings Corp.

     2,800      $ 59,551  

Alps Alpine Co., Ltd.

     5,800        63,315  

Amano Corp.

     5,000        128,882  

Canon Electronics, Inc.

     3,700        55,512  

Canon Marketing Japan, Inc.

     9,900        231,052  

CONEXIO Corp.

     3,900        54,563  

Daiwabo Holdings Co., Ltd.

     6,900        111,439  

Dexerials Corp.

     5,900        116,546  

Elematec Corp.

     2,858        29,201  

ESPEC Corp.(a)

     2,000        42,357  

Hakuto Co., Ltd.

     3,000        49,151  

Horiba Ltd.

     1,900        133,507  

Innotech Corp.

     2,900        35,920  

Iriso Electronics Co., Ltd.

     700        28,671  

Japan Aviation Electronics Industry Ltd.

     3,900        57,185  

Kaga Electronics Co., Ltd.

     3,100        84,047  

Kyosan Electric Manufacturing Co., Ltd.

     6,700        31,826  

Macnica Fuji Electronics Holdings, Inc.

     5,200        121,733  

Meiko Electronics Co., Ltd.

     1,000        27,112  

Nichicon Corp.

     4,800        45,688  

Nippon Ceramic Co., Ltd.

     1,700        46,852  

Nippon Electric Glass Co., Ltd.

     10,300        245,095  

Nippon Signal Co., Ltd.

     4,300        38,578  

Nissha Co., Ltd.(a)

     3,000        48,156  

Nohmi Bosai Ltd.

     2,866        53,172  

Oki Electric Industry Co., Ltd.

     9,300        81,602  

Optex Group Co., Ltd.

     1,900        26,071  

Osaki Electric Co., Ltd.

     4,800        23,876  

Restar Holdings Corp.

     3,700        61,747  

Riken Keiki Co., Ltd.

     1,100        30,168  

Ryoden Corp.

     2,300        36,074  

Ryosan Co., Ltd.

     1,800        37,282  

Sanshin Electronics Co., Ltd.(a)

     2,100        32,392  

Siix Corp.

     2,200        23,740  

Tachibana Eletech Co., Ltd.

     2,100        28,872  

Tokyo Electron Device Ltd.(a)

     1,000        66,144  

Tsuzuki Denki Co., Ltd.(a)

     2,300        36,734  

V Technology Co., Ltd.(a)

     700        28,169  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     2,451,982  
Energy Equipment & Services – 0.1%      

Toyo Kanetsu K.K.

     1,300        30,655  
Entertainment – 1.2%      

Akatsuki, Inc.

     500        14,385  

Avex, Inc.

     4,700        63,018  

COLOPL, Inc.

     4,700        33,910  

Daiichikosho Co., Ltd.

     3,900        145,059  

GungHo Online Entertainment, Inc.

     2,100        38,622  

Marvelous, Inc.

     4,900        31,093  

Toei Animation Co., Ltd.(a)

     1,300        240,484  
     

 

 

 
Total Entertainment

 

     566,571  
Food & Staples Retailing – 2.5%      

Aeon Hokkaido Corp.

     2,900        32,307  

Ain Holdings, Inc.

     700      43,791  

Arcs Co., Ltd.

     2,900        58,949  

Axial Retailing, Inc.

     1,100        37,414  

Belc Co., Ltd.

     900        47,269  

Cawachi Ltd.

     1,100        22,330  

cocokara fine, Inc.(a)

     900        67,193  

Create SD Holdings Co., Ltd.

     2,300        77,405  

G-7 Holdings, Inc.

     3,800        69,921  

Heiwado Co., Ltd.(a)

     2,000        39,059  

Inageya Co., Ltd.(a)

     1,300        16,009  

JM Holdings Co., Ltd.

     1,200        22,467  

Kato Sangyo Co., Ltd.

     2,100        62,487  

Kusuri no Aoki Holdings Co., Ltd.(a)

     200        13,785  

Life Corp.

     2,100        84,508  

Maxvalu Tokai Co., Ltd.

     1,700        39,554  

Mitsubishi Shokuhin Co., Ltd.

     2,100        54,940  

Nihon Chouzai Co., Ltd.

     1,700        26,100  

Okuwa Co., Ltd.

     2,700        28,700  

Qol Holdings Co., Ltd.

     2,300        31,374  

Retail Partners Co., Ltd.(a)

     1,600        17,810  

San-A Co., Ltd.

     900        32,265  

United Super Markets Holdings, Inc.

     4,000        39,471  

Valor Holdings Co., Ltd.

     3,700        80,185  

Yaoko Co., Ltd.

     1,100        67,829  

Yokohama Reito Co., Ltd.(a)

     4,300        34,184  
     

 

 

 
Total Food & Staples Retailing

 

     1,147,306  
Food Products – 3.0%      

Ariake Japan Co., Ltd.

     800        50,477  

DyDo Group Holdings, Inc.

     300        15,326  

Feed One Co., Ltd.

     3,900        26,355  

Fuji Oil Holdings, Inc.

     4,751        111,691  

Fujicco Co., Ltd.

     1,200        20,822  

Hokuto Corp.

     3,000        52,888  

Itoham Yonekyu Holdings, Inc.

     21,300        139,741  

J-Oil Mills, Inc.

     2,000        33,018  

Kakiyasu Honten Co., Ltd.

     1,000        24,342  

Kameda Seika Co., Ltd.(a)

     800        31,871  

Kotobuki Spirits Co., Ltd.

     700        48,120  

Kyokuyo Co., Ltd.

     1,200        32,480  

Marudai Food Co., Ltd.(a)

     1,700        26,511  

Maruha Nichiro Corp.

     2,000        47,609  

Megmilk Snow Brand Co., Ltd.

     2,600        53,503  

Mitsui DM Sugar Holdings Co., Ltd.

     1,700        30,778  

Morinaga & Co., Ltd.

     2,100        77,638  

Morinaga Milk Industry Co., Ltd.

     1,900        119,202  

Nippn Corp.

     3,300        48,239  

Nippon Suisan Kaisha Ltd.

     13,900        81,102  

Nisshin Oillio Group Ltd. (The)

     1,900        51,768  

Prima Meat Packers Ltd.

     3,000        76,308  

Riken Vitamin Co., Ltd.(a)

     2,700        45,494  

S Foods, Inc.

     1,100        30,415  

Sakata Seed Corp.

     900        28,313  

Showa Sangyo Co., Ltd.(a)

     2,100        52,587  
     

 

 

 
Total Food Products

 

     1,356,598  

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

Investments    Shares      Value  
Gas Utilities – 0.4%      

Nippon Gas Co., Ltd.

     6,200      $ 85,519  

Saibu Gas Holdings Co., Ltd.

     2,200        48,821  

Shizuoka Gas Co., Ltd.(a)

     3,300        39,928  
     

 

 

 
Total Gas Utilities

 

     174,268  
Health Care Equipment & Supplies – 1.3%      

Daiken Medical Co., Ltd.

     2,800        15,459  

Eiken Chemical Co., Ltd.

     1,300        24,526  

Hogy Medical Co., Ltd.

     1,300        37,226  

Japan Lifeline Co., Ltd.

     4,200        51,646  

Jeol Ltd.

     1,100        80,941  

Mani, Inc.

     1,900        36,340  

Menicon Co., Ltd.

     800        31,190  

Nagaileben Co., Ltd.

     2,000        47,000  

Nakanishi, Inc.

     3,100        70,655  

Nihon Kohden Corp.

     3,000        102,173  

Nipro Corp.

     3,123        32,524  

Paramount Bed Holdings Co., Ltd.

     3,206        64,106  

Taiko Pharmaceutical Co., Ltd.(a)

     1,300        10,649  
     

 

 

 
Total Health Care Equipment & Supplies

 

     604,435  
Health Care Providers & Services – 1.3%      

As One Corp.

     800        117,159  

BML, Inc.

     1,300        49,402  

France Bed Holdings Co., Ltd.

     3,300        27,388  

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

     3,800        103,365  

Ship Healthcare Holdings, Inc.

     4,818        124,536  

Solasto Corp.

     3,000        40,547  

Toho Holdings Co., Ltd.

     3,300        53,947  

Tokai Corp.

     1,200        23,597  

Vital KSK Holdings, Inc.(a)

     4,700        33,573  

WIN-Partners Co., Ltd.

     2,200        19,343  
     

 

 

 
Total Health Care Providers & Services

 

     592,857  
Hotels, Restaurants & Leisure – 1.4%      

Doutor Nichires Holdings Co., Ltd.

     1,200        19,004  

Food & Life Cos Ltd.

     1,300        60,121  

Fuji Kyuko Co., Ltd.

     500        21,533  

Hiday Hidaka Corp.(a)

     2,022        31,968  

Ichibanya Co., Ltd.

     1,300        53,130  

KFC Holdings Japan Ltd.

     1,700        45,024  

KOMEDA Holdings Co., Ltd.

     3,100        61,653  

Koshidaka Holdings Co., Ltd.(a)

     6,200        37,675  

Kyoritsu Maintenance Co., Ltd.(a)

     1,000        39,122  

MOS Food Services, Inc.(a)

     1,000        29,352  

Ohsho Food Service Corp.

     1,000        54,851  

Resorttrust, Inc.

     3,800        75,063  

Rock Field Co., Ltd.(a)

     1,700        26,237  

Saizeriya Co., Ltd.

     1,200        31,362  

St. Marc Holdings Co., Ltd.

     2,200        32,238  

Tokyotokeiba Co., Ltd.

     1,000        39,435  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     657,768  
Household Durables – 1.7%      

ES-Con Japan Ltd.(a)

     6,800        49,305  

FJ Next Co., Ltd.(a)

     3,700      34,621  

Foster Electric Co., Ltd.(a)

     1,800        14,971  

Fuji Corp., Ltd.(a)

     5,700        37,242  

Hinokiya Group Co., Ltd.

     2,000        41,766  

Hoosiers Holdings(a)

     7,800        47,398  

Ki-Star Real Estate Co., Ltd.

     1,000        50,997  

LEC, Inc.(a)

     2,300        22,366  

Pressance Corp.(a)

     3,017        49,754  

Sanei Architecture Planning Co., Ltd.

     1,300        23,524  

Sangetsu Corp.

     4,900        66,709  

Sumitomo Forestry Co., Ltd.

     6,800        130,667  

Tama Home Co., Ltd.(a)

     3,000        72,973  

Tamron Co., Ltd.

     2,800        66,954  

Toa Corp.

     3,200        23,862  

Zojirushi Corp.(a)

     2,200        35,413  
     

 

 

 
Total Household Durables

 

     768,522  
Household Products – 0.2%      

Earth Corp.

     1,000        61,035  

ST Corp.

     1,300        20,728  
     

 

 

 
Total Household Products

 

     81,763  
Independent Power & Renewable Electricity Producers – 0.9%

 

Electric Power Development Co., Ltd.

     19,200        278,256  

eRex Co., Ltd.

     1,300        28,988  

West Holdings Corp.

     1,900        84,719  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     391,963  
Industrial Conglomerates – 0.3%      

Nisshinbo Holdings, Inc.(a)

     12,400        94,244  

TOKAI Holdings Corp.

     8,300        66,727  
     

 

 

 
Total Industrial Conglomerates

 

     160,971  
Interactive Media & Services – 0.3%      

Dip Corp.

     3,100        118,360  

MTI Ltd.(a)

     2,300        15,790  
     

 

 

 
Total Interactive Media & Services

 

     134,150  
Internet & Direct Marketing Retail – 0.2%      

ASKUL Corp.

     3,100        45,566  

Belluna Co., Ltd.

     3,700        28,320  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     73,886  
IT Services – 2.9%      

Bell System24 Holdings, Inc.

     3,100        46,399  

Comture Corp.

     800        22,299  

Digital Garage, Inc.

     800        36,782  

DTS Corp.

     3,000        69,209  

Future Corp.

     2,100        52,437  

GMO Internet, Inc.

     2,100        53,942  

ID Holdings Corp.

     2,250        18,674  

Ines Corp.

     2,000        27,497  

Infocom Corp.(a)

     1,700        36,385  

Infomart Corp.

     2,300        20,923  

Information Services International-Dentsu Ltd.

     2,700        101,999  

Itfor, Inc.

     2,900        22,457  

JBCC Holdings, Inc.

     2,000        28,824  

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

Investments    Shares      Value  

Kanematsu Electronics Ltd.

     2,700      $ 94,376  

Mitsubishi Research Institute, Inc.

     1,200        47,376  

NEC Networks & System Integration Corp.

     6,800        128,717  

NS Solutions Corp.

     3,800        129,249  

NSD Co., Ltd.

     4,900        89,678  

Relia, Inc.

     5,200        54,715  

SB Technology Corp.

     800        21,797  

TDC Soft, Inc.(a)

     2,100        25,277  

TechMatrix Corp.

     1,300        23,524  

TKC Corp.

     2,900        91,360  

Transcosmos, Inc.

     1,700        55,841  

Uchida Yoko Co., Ltd.

     200        9,805  
     

 

 

 
Total IT Services

 

     1,309,542  
Leisure Products – 1.2%      

Furyu Corp.

     3,200        51,108  

GLOBERIDE, Inc.

     1,000        35,268  

Heiwa Corp.

     9,900        185,977  

Mizuno Corp.

     1,700        40,834  

Sankyo Co., Ltd.

     7,800        194,624  

Tomy Co., Ltd.

     4,700        48,064  
     

 

 

 
Total Leisure Products

 

     555,875  
Machinery – 4.6%      

Aichi Corp.

     4,200        28,759  

Aida Engineering Ltd.

     4,200        39,713  

Alinco, Inc.

     3,100        28,367  

CKD Corp.

     1,100        23,582  

DMG Mori Co., Ltd.

     5,800        109,684  

Ebara Corp.

     3,000        149,227  

Fujitec Co., Ltd.

     4,900        114,666  

Furukawa Co., Ltd.

     3,800        41,789  

Giken Ltd.

     1,200        53,291  

Glory Ltd.

     2,800        62,738  

Hitachi Zosen Corp.

     11,335        87,470  

Japan Steel Works Ltd. (The)

     2,103        54,981  

Juki Corp.

     3,200        23,977  

Kitz Corp.

     4,300        30,407  

Kyokuto Kaihatsu Kogyo Co., Ltd.

     2,100        30,848  

Meidensha Corp.

     2,200        48,801  

METAWATER Co., Ltd.

     2,100        35,535  

Mitsubishi Logisnext Co., Ltd.

     2,800        29,085  

Mitsuboshi Belting Ltd.

     2,000        37,446  

Morita Holdings Corp.

     2,200        29,991  

Nachi-Fujikoshi Corp.

     1,000        41,093  

Nikkiso Co., Ltd.

     2,700        23,449  

Nikko Co., Ltd.(a)

     4,300        25,667  

Nissei ASB Machine Co., Ltd.

     300        10,352  

Nitta Corp.

     900        22,158  

Noritake Co., Ltd.

     1,000        44,992  

Obara Group, Inc.(a)

     900        31,459  

Oiles Corp.

     2,000        29,523  

OKUMA Corp.

     900        43,881  

Organo Corp.

     700        43,101  

OSG Corp.

     3,700        63,969  

Sansei Technologies, Inc.

     3,700      28,154  

Shibaura Machine Co., Ltd.

     2,800        69,188  

Shibuya Corp.

     900        24,844  

Shinmaywa Industries Ltd.

     5,300        44,414  

Shinwa Co., Ltd.

     1,900        41,482  

Sodick Co., Ltd.(a)

     3,700        30,343  

Star Micronics Co., Ltd.

     3,100        43,260  

Sumitomo Heavy Industries Ltd.

     3,800        100,164  

Takeuchi Manufacturing Co., Ltd.

     1,700        39,752  

Takuma Co., Ltd.

     2,800        39,274  

Technoflex Corp.

     1,700        15,419  

Teikoku Electric Manufacturing Co., Ltd.

     2,700        34,242  

Tocalo Co., Ltd.

     2,700        32,935  

Tsubakimoto Chain Co.

     2,200        68,716  

Tsugami Corp.

     1,700        25,963  

Union Tool Co.

     800        28,286  

YAMABIKO Corp.

     2,000        22,245  
     

 

 

 
Total Machinery

 

     2,128,682  
Marine – 2.2%      

Iino Kaiun Kaisha Ltd.(a)

     10,900        51,288  

Mitsui OSK Lines Ltd.(a)

     3,800        257,477  

Nippon Yusen K.K.(a)

     8,400        636,164  

NS United Kaiun Kaisha Ltd.(a)

     2,000        73,762  
     

 

 

 
Total Marine

 

     1,018,691  
Media – 1.1%      

FAN Communications, Inc.

     8,900        36,134  

Gakken Holdings Co., Ltd.

     1,300        14,226  

Intage Holdings, Inc.

     4,700        68,957  

Kadokawa Corp.

     2,200        122,447  

Proto Corp.

     1,900        26,191  

SKY Perfect JSAT Holdings, Inc.

     24,300        93,432  

Tow Co., Ltd.

     8,700        26,979  

Tv Tokyo Holdings Corp.

     1,100        21,956  

ValueCommerce Co., Ltd.

     1,000        42,796  

Wowow, Inc.

     2,300        50,236  

Zenrin Co., Ltd.

     2,100        20,290  
     

 

 

 
Total Media

 

     523,644  
Metals & Mining – 2.7%      

Asahi Holdings, Inc.

     10,700        194,676  

Daido Steel Co., Ltd.

     1,900        81,143  

Daiki Aluminium Industry Co., Ltd.(a)

     5,700        84,804  

Dowa Holdings Co., Ltd.

     3,900        154,497  

Godo Steel Ltd.

     4,100        55,120  

Kurimoto Ltd.

     1,900        27,944  

Kyoei Steel Ltd.

     6,100        75,775  

Maruichi Steel Tube Ltd.

     6,000        139,601  

Mitsubishi Materials Corp.

     5,700        111,982  

Mitsui Mining & Smelting Co., Ltd.

     3,100        87,103  

Toho Titanium Co., Ltd.

     3,300        35,581  

Tokyo Steel Manufacturing Co., Ltd.(a)

     11,800        122,045  

Tokyo Tekko Co., Ltd.(a)

     1,200        17,165  

UACJ Corp.*

     1,153        30,340  
     

 

 

 
Total Metals & Mining

 

     1,217,776  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

Investments    Shares      Value  
Multiline Retail – 0.5%      

Izumi Co., Ltd.

     3,200      $ 106,977  

MrMax Holdings Ltd.(a)

     2,300        14,079  

Takashimaya Co., Ltd.(a)

     10,700        119,971  
     

 

 

 
Total Multiline Retail

 

     241,027  
Oil, Gas & Consumable Fuels – 1.3%      

Cosmo Energy Holdings Co., Ltd.

     9,100        207,243  

Itochu Enex Co., Ltd.(a)

     12,200        110,109  

Iwatani Corp.

     2,500        147,210  

Sala Corp.

     5,700        32,951  

San-Ai Oil Co., Ltd.

     4,000        53,273  

Sinanen Holdings Co., Ltd.

     1,000        32,624  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     583,410  
Paper & Forest Products – 0.7%      

Daiken Corp.

     2,000        42,124  

Daio Paper Corp.

     4,800        90,214  

Hokuetsu Corp.(a)

     14,700        90,644  

Nippon Paper Industries Co., Ltd.(a)

     7,900        84,257  
     

 

 

 
Total Paper & Forest Products

 

     307,239  
Personal Products – 0.6%      

Kitanotatsujin Corp.(a)

     3,900        16,358  

Mandom Corp.

     3,000        43,182  

Milbon Co., Ltd.

     700        42,976  

Noevir Holdings Co., Ltd.

     3,000        143,312  

Shinnihonseiyaku Co., Ltd.(a)

     900        15,221  
     

 

 

 
Total Personal Products

 

     261,049  
Pharmaceuticals – 2.1%      

Fuji Pharma Co., Ltd.

     2,200        23,070  

Kaken Pharmaceutical Co., Ltd.

     5,100        210,033  

KYORIN Holdings, Inc.

     7,900        126,103  

Mochida Pharmaceutical Co., Ltd.

     1,800        55,174  

Nichi-iko Pharmaceutical Co., Ltd.(a)

     4,200        33,841  

Sawai Group Holdings Co., Ltd.

     3,700        172,440  

Seikagaku Corp.

     3,300        31,410  

Towa Pharmaceutical Co., Ltd.

     2,700        76,711  

Tsumura & Co.

     5,100        163,639  

ZERIA Pharmaceutical Co., Ltd.(a)

     3,100        57,207  
     

 

 

 
Total Pharmaceuticals

 

     949,628  
Professional Services – 2.4%      

Altech Corp.

     2,650        48,974  

BayCurrent Consulting, Inc.

     200        101,815  

BeNext-Yumeshin Group Co.

     6,235        73,205  

en Japan, Inc.

     2,800        102,012  

Forum Engineering, Inc.(a)

     3,200        26,902  

FULLCAST Holdings Co., Ltd.

     1,700        34,693  

Funai Soken Holdings, Inc.

     1,840        50,133  

IR Japan Holdings Ltd.

     300        33,260  

JAC Recruitment Co., Ltd.

     4,000        78,692  

Meitec Corp.

     2,300        127,600  

Nexyz Group Corp.

     1,800        15,003  

Nisso Corp.

     2,300        14,966  

Nomura Co., Ltd.

     8,800        79,660  

Outsourcing, Inc.

     4,300      78,042  

SMS Co., Ltd.

     900        32,951  

Tanseisha Co., Ltd.(a)

     4,900        38,866  

TechnoPro Holdings, Inc.

     3,900        118,320  

Weathernews, Inc.

     700        41,344  
     

 

 

 
Total Professional Services

 

     1,096,438  
Real Estate Management & Development – 2.6%      

Aoyama Zaisan Networks Co., Ltd.

     2,900        26,745  

Daibiru Corp.(a)

     4,100        60,705  

Goldcrest Co., Ltd.

     4,200        63,729  

Heiwa Real Estate Co., Ltd.

     2,800        97,244  

Ichigo, Inc.

     25,000        82,904  

Katitas Co., Ltd.

     2,200        78,181  

Keihanshin Building Co., Ltd.

     3,100        39,231  

Nippon Commercial Development Co., Ltd.(a)

     2,300        35,951  

Raysum Co., Ltd.(a)

     4,800        32,911  

SAMTY Co., Ltd.

     4,200        88,423  

Shinoken Group Co., Ltd.

     5,000        52,117  

Star Mica Holdings Co., Ltd.

     1,100        15,212  

Starts Corp., Inc.

     3,900        93,153  

Sun Frontier Fudousan Co., Ltd.

     5,200        52,198  

Takara Leben Co., Ltd.

     15,700        45,450  

TOC Co., Ltd.

     4,000        23,661  

Tokyo Tatemono Co., Ltd.

     16,500        262,344  

Tosei Corp.

     4,000        43,236  
     

 

 

 
Total Real Estate Management & Development

 

     1,193,395  
Road & Rail – 1.4%      

Fukuyama Transporting Co., Ltd.

     1,000        43,737  

Hamakyorex Co., Ltd.

     1,100        33,274  

Ichinen Holdings Co., Ltd.

     1,900        22,376  

Maruzen Showa Unyu Co., Ltd.

     1,100        35,393  

Nikkon Holdings Co., Ltd.

     3,700        76,769  

Nishi-Nippon Railroad Co., Ltd.(a)

     1,800        45,849  

Sakai Moving Service Co., Ltd.

     300        13,068  

Sankyu, Inc.

     2,700        125,351  

Seino Holdings Co., Ltd.

     14,200        172,958  

Senko Group Holdings Co., Ltd.(a)

     9,900        91,125  
     

 

 

 
Total Road & Rail

 

     659,900  
Semiconductors & Semiconductor Equipment – 1.4%

 

  

Ferrotec Holdings Corp.

     2,000        57,181  

Japan Material Co., Ltd.(a)

     3,200        37,428  

Mimasu Semiconductor Industry Co., Ltd.

     1,300        28,604  

Optorun Co., Ltd.

     2,800        58,698  

Rorze Corp.

     300        21,618  

SCREEN Holdings Co., Ltd.

     700        60,291  

Shibaura Mechatronics Corp.(a)

     400        24,235  

Shinko Electric Industries Co., Ltd.(a)

     3,700        124,024  

Tokyo Seimitsu Co., Ltd.

     1,900        78,589  

Ulvac, Inc.

     2,100        120,645  

Yamaichi Electronics Co., Ltd.

     2,300        34,219  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     645,532  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Table of Contents

Schedule of Investments (unaudited) (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

Investments    Shares      Value  
Software – 0.8%

 

  

Broadleaf Co., Ltd.

     4,900      $ 25,208  

Computer Engineering & Consulting Ltd.

     2,100        24,863  

Cresco Ltd.

     1,900        34,518  

Cybernet Systems Co., Ltd.

     2,800        16,212  

Digital Arts, Inc.

     200        16,240  

Fuji Soft, Inc.

     700        36,827  

Fukui Computer Holdings, Inc.

     800        31,046  

Miroku Jyoho Service Co., Ltd.

     1,200        18,284  

SRA Holdings

     2,200        58,029  

Systena Corp.

     3,900        79,066  

UNITED, Inc.

     1,300        19,341  
     

 

 

 
Total Software

 

     359,634  
Specialty Retail – 2.9%

 

  

Adastria Co., Ltd.

     2,222        40,925  

Alleanza Holdings Co., Ltd.(a)

     2,000        25,472  

Alpen Co., Ltd.

     1,700        47,385  

Arcland Sakamoto Co., Ltd.(a)

     1,300        20,343  

Autobacs Seven Co., Ltd.(a)

     7,300        97,290  

Bic Camera, Inc.

     6,900        65,862  

Chiyoda Co., Ltd.

     5,900        45,000  

DCM Holdings Co., Ltd.

     9,900        96,094  

EDION Corp.(a)

     10,200        96,355  

Geo Holdings Corp.

     2,000        22,604  

Honeys Holdings Co., Ltd.

     2,800        27,780  

Joshin Denki Co., Ltd.

     1,100        24,923  

Joyful Honda Co., Ltd.

     6,200        86,242  

Keiyo Co., Ltd.(a)

     3,300        23,987  

Kohnan Shoji Co., Ltd.

     1,800        59,529  

Kojima Co., Ltd.(a)

     3,700        22,417  

Komeri Co., Ltd.

     2,300        55,719  

Nafco Co., Ltd.(a)

     1,900        31,657  

Nojima Corp.

     2,100        54,262  

PAL GROUP Holdings Co., Ltd.

     4,300        71,837  

PC Depot Corp.(a)

     3,700        15,553  

T-Gaia Corp.

     4,700        83,701  

VT Holdings Co., Ltd.(a)

     13,254        65,572  

World Co., Ltd.*(a)

     3,100        41,620  

Xebio Holdings Co., Ltd.

     4,900        49,889  

Yellow Hat Ltd.

     3,000        52,539  
     

 

 

 
Total Specialty Retail

 

     1,324,557  
Technology Hardware, Storage & Peripherals – 0.5%

 

  

Eizo Corp.

     1,200        45,978  

Elecom Co., Ltd.

     3,800        61,066  

MCJ Co., Ltd.

     7,800        84,100  

Wacom Co., Ltd.

     5,100        32,636  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     223,780  
Textiles, Apparel & Luxury Goods – 1.6%      

Asics Corp.

     5,000        114,811  

Baroque Japan Ltd.

     5,300        42,419  

Fujibo Holdings, Inc.

     1,000        38,091  

Gunze Ltd.

     1,200        47,000  

Japan Wool Textile Co., Ltd. (The)

     7,300        66,539  

Kurabo Industries Ltd.

     1,800      33,233  

Onward Holdings Co., Ltd.

     37,839        122,767  

Seiko Holdings Corp.

     5,000        101,411  

Seiren Co., Ltd.(a)

     3,100        58,430  

Wacoal Holdings Corp.

     2,800        59,551  

Yondoshi Holdings, Inc.

     2,300        37,765  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     722,017  
Thrifts & Mortgage Finance – 0.1%      

Aruhi Corp.

     2,000        23,410  
Trading Companies & Distributors – 3.2%      

Advan Group Co., Ltd.

     2,000        17,549  

Alconix Corp.

     2,000        29,039  

Chori Co., Ltd.

     1,300        22,242  

Gecoss Corp.

     4,000        31,620  

Hanwa Co., Ltd.

     1,900        59,176  

Inaba Denki Sangyo Co., Ltd.

     3,200        78,297  

Inabata & Co., Ltd.

     4,300        66,750  

Kamei Corp.

     2,200        24,825  

Kanamoto Co., Ltd.

     2,200        51,739  

Kanematsu Corp.

     10,000        124,670  

Nagase & Co., Ltd.

     9,900        167,876  

Nichiden Corp.

     1,200        25,597  

Nippon Steel Trading Corp.

     2,096        95,055  

Nishio Rent All Co., Ltd.

     1,800        47,559  

Onoken Co., Ltd.(a)

     2,700        40,388  

Sanyo Trading Co., Ltd.

     2,700        28,385  

Sojitz Corp.

     23,200        382,595  

Trusco Nakayama Corp.

     1,200        31,254  

Wakita & Co., Ltd.

     3,300        32,120  

Yamazen Corp.

     3,700        35,715  

Yuasa Trading Co., Ltd.

     2,000        54,313  
     

 

 

 
Total Trading Companies & Distributors

 

     1,446,764  
Transportation Infrastructure – 0.5%      

Kamigumi Co., Ltd.

     4,900        103,423  

Mitsubishi Logistics Corp.

     2,900        86,292  

Nissin Corp.

     1,300        19,283  
     

 

 

 
Total Transportation Infrastructure

 

     208,998  
Wireless Telecommunication Services – 0.2%

 

  

Okinawa Cellular Telephone Co.

     2,300        112,346  

TOTAL COMMON STOCKS

(Cost: $45,011,372)

              45,265,846  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 7.2%

 

United States – 7.2%      

State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(b)

     
(Cost: $3,297,773)      3,297,773        3,297,773  

TOTAL INVESTMENTS IN SECURITIES – 106.2%

(Cost: $48,309,145)

        48,563,619  

Other Assets less Liabilities – (6.2)%

        (2,856,213
     

 

 

 
NET ASSETS – 100.0%             $ 45,707,406  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Table of Contents

Schedule of Investments (unaudited) (concluded)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

September 30, 2021

 

 

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $5,239,562 and the total market value of the collateral held by the Fund was $5,522,764. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,224,991.

 

(b) 

Rate shown represents annualized 7-day yield as of September 30, 2021.

 

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 N.A.

    10/5/2021       1,237,492,455       JPY       11,091,067       USD     $ 128      $  

Bank of America N.A.

    10/5/2021       7,763,747       USD       852,700,873       JPY       121,299         

Bank of America N.A.

    11/4/2021       11,486,946       USD       1,281,412,476       JPY              (237

Citibank N.A.

    10/5/2021       1,237,486,686       JPY       11,091,065       USD       78         

Citibank N.A.

    10/5/2021       7,763,747       USD       852,696,991       JPY       121,334         

Citibank N.A.

    11/4/2021       11,486,944       USD       1,281,409,956       JPY              (216

Goldman Sachs

    10/5/2021       1,237,490,236       JPY       11,091,067       USD       108         

Goldman Sachs

    10/5/2021       7,763,747       USD       852,691,556       JPY       121,383         

Goldman Sachs

    10/5/2021       13,309,280       USD       1,453,226,973       JPY       284,535         

Goldman Sachs

    11/4/2021       11,486,946       USD       1,281,407,881       JPY              (196

JP Morgan Chase Bank N.A.

    10/5/2021       1,237,489,127       JPY       11,091,067       USD       98         

JP Morgan Chase Bank N.A.

    10/5/2021       7,763,745       USD       852,695,995       JPY       121,341         

JP Morgan Chase Bank N.A.

    11/4/2021       11,486,946       USD       1,281,412,476       JPY              (237
                                            $ 770,304      $ (886

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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

           

Banks

   $ 2,879,948      $ 117,095      $      $ 2,997,043  

Construction & Engineering

     2,751,293        207,622               2,958,915  

Food & Staples Retailing

     1,080,113        67,193               1,147,306  

Other

     38,162,582                      38,162,582  

Investment of Cash Collateral for Securities Loaned

            3,297,773               3,297,773  

Total Investments in Securities

   $ 44,873,936      $ 3,689,683      $      $ 48,563,619  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 770,304      $      $ 770,304  

Liabilities:

        

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (886    $      $ (886

Total – Net

   $ 44,873,936      $ 4,459,101      $      $ 49,333,037  
1 

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

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Table of Contents

Statements of Assets and Liabilities (unaudited)

WisdomTree Trust

September 30, 2021

 

 

 

     WisdomTree
Europe
Hedged
Equity Fund
    WisdomTree
Europe
Hedged
SmallCap
Equity Fund
    WisdomTree
Germany
Hedged
Equity Fund
    WisdomTree
International
Hedged
Quality
Dividend
Growth Fund
    WisdomTree
Japan Hedged
Equity Fund
    WisdomTree
Japan Hedged
SmallCap
Equity Fund
 

ASSETS:

 

Investments, at cost

  $ 1,720,086,270     $ 48,127,403     $ 27,538,331     $ 842,142,481     $ 1,773,698,470     $ 48,309,145  

Investment in affiliates, at cost (Note 3)

                      882,631              

Foreign currency, at cost

    1,912,521       14,315       29,744       163,202       751,619       43,548  

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

    2,078,508,668       53,967,255       31,064,878       1,048,195,309       1,846,057,607       48,563,619  

Investment in affiliates, at value (Note 3)

                      1,169,894              

Cash

    927,472       1,483       1,276       554,730       2,501,942       47,446  

Foreign currency, at value

    1,873,396       14,234       29,014       163,212       746,943       43,510  

Unrealized appreciation on foreign currency contracts

    40,451,374       1,045,530       615,948       18,645,763       28,538,246       770,304  

Receivables:

 

Dividends

    415,185       22,521             3,008,240       16,828,467       407,458  

Securities lending income

    10,788       1,194             11,166       6,941       1,231  

Foreign tax reclaims

    4,441,987       150,040       420,554       2,549,574              

Total Assets

    2,126,628,870       55,202,257       32,131,670       1,074,297,888       1,894,680,146       49,833,568  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

    26,303       685       409       52,895       1,159,957       886  

Payables:

 

Cash collateral received for securities loaned (Note 2)

    32,724,682       905,426             5,433,597       11,800,278       3,297,773  

Investment securities purchased

    37,361,945       974,204       546,091       15,318,834       27,976,043       810,110  

Advisory fees (Note 3)

    1,006,475       26,120       12,682       516,989       718,994       17,263  

Service fees (Note 2)

    7,635       198       117       3,922       6,590       130  

Total Liabilities

    71,127,040       1,906,633       559,299       21,326,237       41,661,862       4,126,162  

NET ASSETS

  $ 2,055,501,830     $ 53,295,624     $ 31,572,371     $ 1,052,971,651     $ 1,853,018,284     $ 45,707,406  

NET ASSETS:

 

Paid-in capital

  $ 3,861,220,461     $ 72,392,895     $ 61,662,514     $ 877,501,818     $ 3,492,375,096     $ 68,562,034  

Total distributable earnings (loss)

    (1,805,718,631     (19,097,271     (30,090,143     175,469,833       (1,639,356,812     (22,854,628

NET ASSETS

  $ 2,055,501,830     $ 53,295,624     $ 31,572,371     $ 1,052,971,651     $ 1,853,018,284     $ 45,707,406  

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

    27,000,000       1,500,000       900,000       24,300,000       29,150,000       1,000,000  

Net asset value per share

  $ 76.13     $ 35.53     $ 35.08     $ 43.33     $ 63.57     $ 45.71  

1 Includes market value of securities out on loan of:

  $ 38,470,136     $ 939,713           $ 52,958,251     $ 25,833,872     $ 5,239,562  

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      41  


Table of Contents

Statements of Operations (unaudited)

WisdomTree Trust

For the Six Months Ended September 30, 2021

 

 

 

      WisdomTree
Europe
Hedged
Equity Fund
     WisdomTree
Europe
Hedged
SmallCap
Equity Fund
     WisdomTree
Germany
Hedged
Equity Fund
     WisdomTree
International
Hedged
Quality
Dividend
Growth Fund
     WisdomTree
Japan Hedged
Equity Fund
     WisdomTree
Japan Hedged
SmallCap
Equity Fund
 

INVESTMENT INCOME:

 

Dividends1

   $ 27,415,693      $ 759,259      $ 696,251      $ 19,629,361      $ 22,631,473      $ 488,211  

Dividends from affiliates (Note 3)

                          19,816                

Non-cash dividends

     3,206,159        52,379               17,804                

Other income (Note 6)

     91,988        57,309                              

Securities lending income, net (Note 2)

     260,950        12,894               42,577        93,093        4,132  

Total investment income

     30,974,790        881,841        696,251        19,709,558        22,724,566        492,343  

EXPENSES:

 

Advisory fees (Note 3)

     5,906,364        132,075        77,377        2,931,956        4,306,986        91,812  

Service fees (Note 2)

     44,806        1,002        710        22,242        39,481        697  

Other fees (Note 6)

     26,950        17,358                              

Total expenses

     5,978,120        150,435        78,087        2,954,198        4,346,467        92,509  

Expense waivers (Note 3)

                          (1,861              

Net expenses

     5,978,120        150,435        78,087        2,952,337        4,346,467        92,509  

Net investment income

     24,996,670        731,406        618,164        16,757,221        18,378,099        399,834  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

 

Investment transactions

     (4,018,119      125,919        (201,826      (836,685      (9,159,679      (451,599

Investment transactions in affiliates (Note 3)

                          110,708                

In-kind redemptions

     9,102,936                             59,617,475         

Foreign currency contracts

     57,115,781        1,182,199        899,198        26,159,208        51,087,116        900,317  

Foreign currency related transactions

     (228,433      (7,078      (4,014      (374,510      185,640        1,706  

Net realized gain

     61,972,165        1,301,040        693,358        25,058,721        101,730,552        450,424  

Net increase (decrease) in unrealized appreciation/depreciation:

 

Investment transactions

     50,798,147        597,719        (177,748      27,510,279        (443,625      236,779  

Investment transactions in affiliates (Note 3)

                          (74,269              

Foreign currency contracts

     (18,901,684      (118,641      (325,115      (4,524,868      (29,526,008      (297,332

Translation of assets and liabilities denominated in foreign currencies

     (182,889      (5,568      (11,105      57,697        74,352        2,389  

Net increase (decrease) in unrealized appreciation/depreciation

     31,713,574        473,510        (513,968      22,968,839        (29,895,281      (58,164

Net realized and unrealized gain on investments

     93,685,739        1,774,550        179,390        48,027,560        71,835,271        392,260  

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ 118,682,409      $ 2,505,956      $ 797,554      $ 64,784,781      $ 90,213,370      $ 792,094  

1 Net of foreign withholding tax of:

   $ 3,889,519      $ 144,755      $ 109,756      $ 733,245      $ 2,516,610      $ 54,275  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Table of Contents

Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

     WisdomTree Europe
Hedged Equity Fund
   

WisdomTree Europe Hedged

SmallCap Equity Fund

    WisdomTree Germany
Hedged Equity Fund
 
    

For the

Six Months Ended
September 30, 2021
(unaudited)

    For the
Year Ended
March 31, 2021
   

For the

Six Months Ended
September 30, 2021
(unaudited)

    For the
Year Ended
March 31, 2021
   

For the

Six Months Ended
September 30, 2021
(unaudited)

    For the
Year Ended
March 31, 2021
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

  $ 24,996,670     $ 54,377,375     $ 731,406     $ 1,365,252     $ 618,164     $ 1,037,775  

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

    61,972,165       (582,339,314     1,301,040       (14,664,028     693,358       (5,635,798

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

    31,713,574       1,251,892,332       473,510       29,161,949       (513,968     19,346,445  

Net increase in net assets resulting from operations

    118,682,409       723,930,393       2,505,956       15,863,173       797,554       14,748,422  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (30,069,750     (53,199,944     (826,500     (1,413,257     (684,000     (1,043,996

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    55,365,070       42,516,333       14,263,171                    

Cost of shares redeemed

    (26,143,851     (975,850,079           (26,293,657           (11,867,822

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

    29,221,219       (933,333,746     14,263,171       (26,293,657           (11,867,822

Net Increase (Decrease) in Net Assets

    117,833,878       (262,603,297     15,942,627       (11,843,741     113,554       1,836,604  

NET ASSETS:

 

Beginning of period

  $ 1,937,667,952     $ 2,200,271,249     $ 37,352,997     $ 49,196,738     $ 31,458,817     $ 29,622,213  

End of period

  $ 2,055,501,830     $ 1,937,667,952     $ 53,295,624     $ 37,352,997     $ 31,572,371     $ 31,458,817  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of period

    26,650,000       42,450,000       1,100,000       2,100,000       900,000       1,300,000  

Shares created

    700,000       650,000       400,000                    

Shares redeemed

    (350,000     (16,450,000           (1,000,000           (400,000

Shares outstanding, end of period

    27,000,000       26,650,000       1,500,000       1,100,000       900,000       900,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Table of Contents

Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

    

WisdomTree International

Hedged Quality Dividend Growth Fund

    WisdomTree Japan
Hedged Equity Fund
   

WisdomTree Japan Hedged

SmallCap Equity Fund

 
    

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
   

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
   

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

  $ 16,757,221     $ 18,842,679     $ 18,378,099     $ 32,351,041     $ 399,834     $ 545,208  

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

    25,058,721       (8,931,167     101,730,552       (47,209,430     450,424       (3,219,356

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

    22,968,839       231,873,633       (29,895,281     630,004,213       (58,164     12,647,009  

Net increase from payment by affiliate

          1,756,103             22,753              

Net increase in net assets resulting from operations

    64,784,781       243,541,248       90,213,370       615,168,577       792,094       9,972,861  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (20,186,750     (20,307,783     (16,457,510     (43,598,753     (342,171     (1,037,117

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    108,882,564       167,467,543       380,219,670       234,513,759       13,925,653        

Cost of shares redeemed

          (83,555,794     (275,715,977     (841,125,421           (21,653,342

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

    108,882,564       83,911,749       104,503,693       (606,611,662     13,925,653       (21,653,342

Net Increase (Decrease) in Net Assets

    153,480,595       307,145,214       178,259,553       (35,041,838     14,375,576       (12,717,598

NET ASSETS:

 

Beginning of period

  $ 899,491,056     $ 592,345,842     $ 1,674,758,731     $ 1,709,800,569     $ 31,331,830     $ 44,049,428  

End of period

  $ 1,052,971,651     $ 899,491,056     $ 1,853,018,284     $ 1,674,758,731     $ 45,707,406     $ 31,331,830  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of period

    21,850,000       19,350,000       27,450,000       40,100,000       700,000       1,300,000  

Shares created

    2,450,000       4,750,000       6,200,000       4,200,000       300,000        

Shares redeemed

          (2,250,000     (4,500,000     (16,850,000           (600,000

Shares outstanding, end of period

    24,300,000       21,850,000       29,150,000       27,450,000       1,000,000       700,000  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Table of Contents

Financial Highlights

WisdomTree Trust

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

 

 

WisdomTree Europe Hedged

Equity Fund

 

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
    For the
Year Ended
March 31, 2017
 

Net asset value, beginning of period

  $ 72.71     $ 51.83     $ 63.90     $ 62.67     $ 62.80     $ 52.04  

Investment operations:

 

Net investment income1

    0.95       1.76       1.52       1.79       1.23       1.70  

Net realized and unrealized gain (loss)

    3.61       20.86       (12.21     0.90       0.08       10.59  

Total from investment operations

    4.56       22.62       (10.69     2.69       1.31       12.29  

Dividends and distributions to shareholders:

 

Net investment income

    (1.14     (1.74     (1.38     (1.29     (1.44     (1.53

Tax return of capital

                      (0.17            

Total dividends and distributions to shareholders

    (1.14     (1.74     (1.38     (1.46     (1.44     (1.53

Net asset value, end of period

  $ 76.13     $ 72.71     $ 51.83     $ 63.90     $ 62.67     $ 62.80  

TOTAL RETURN2

    6.26     44.22     (17.15 )%      4.33     2.03     24.20

RATIOS/SUPPLEMENTAL DATA:

 

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

  $ 2,055,502     $ 1,937,668     $ 2,200,271     $ 3,744,358     $ 6,332,946     $ 9,300,174  

Ratios to average net assets of:

 

Expenses

    0.59 %3,5      0.58     0.58     0.58     0.58     0.58

Net investment income

    2.45 %3      2.81     2.29     2.86     1.91     3.13

Portfolio turnover rate4

    4     55     26     18     20     24

 

             

WisdomTree Europe Hedged

SmallCap Equity Fund

 

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
    For the
Year Ended
March 31, 2017
 

Net asset value, beginning of period

  $ 33.96     $ 23.43     $ 30.17     $ 30.62     $ 28.29     $ 23.90  

Investment operations:

 

Net investment income1

    0.58       1.02       1.22       1.06       0.74       0.81  

Net realized and unrealized gain (loss)

    1.71       10.56       (6.92     (0.89     2.05       4.25  

Total from investment operations

    2.29       11.58       (5.70     0.17       2.79       5.06  

Dividends and distributions to shareholders:

 

Net investment income

    (0.72     (1.05     (1.04     (0.62     (0.45     (0.67

Tax return of capital

                            (0.01      

Total dividends and distributions to shareholders

    (0.72     (1.05     (1.04     (0.62     (0.46     (0.67

Net asset value, end of period

  $ 35.53     $ 33.96     $ 23.43     $ 30.17     $ 30.62     $ 28.29  

TOTAL RETURN2

    6.75     50.50     (19.62 )%      0.54     9.88     21.62

RATIOS/SUPPLEMENTAL DATA:

 

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

  $ 53,296     $ 37,353     $ 49,197     $ 120,671     $ 154,624     $ 155,594  

Ratios to average net assets of:

 

Expenses

    0.62 %3,5      0.58     0.58     0.58     0.58     0.58

Net investment income

    3.21 %3      3.59     3.99     3.55     2.43     3.27

Portfolio turnover rate4

    7     77     49     37     37     41
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.

 

3 

Annualized.

 

4 

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.

 

5 

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%.

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree Germany Hedged Equity Fund  

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
    For the
Year Ended
March 31, 2017
 

Net asset value, beginning of period

  $ 34.95     $ 22.79     $ 28.63     $ 30.95     $ 30.40     $ 25.54  

Investment operations:

 

Net investment income1

    0.69       0.98       0.88       1.10       0.87       0.84  

Net realized and unrealized gain (loss)

    0.20       12.16       (5.87     (2.64     0.54       4.99  

Total from investment operations

    0.89       13.14       (4.99     (1.54     1.41       5.83  

Dividends and distributions to shareholders:

 

Net investment income

    (0.76     (0.98     (0.85     (0.59     (0.64     (0.97

Tax return of capital

                      (0.19     (0.22      

Total dividends and distributions to shareholders

    (0.76     (0.98     (0.85     (0.78     (0.86     (0.97

Net asset value, end of period

  $ 35.08     $ 34.95     $ 22.79     $ 28.63     $ 30.95     $ 30.40  

TOTAL RETURN2

    2.51     58.59     (18.06 )%      (5.07 )%      4.63     23.62

RATIOS/SUPPLEMENTAL DATA:

 

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

  $ 31,572     $ 31,459     $ 29,622     $ 51,541     $ 91,302     $ 124,648  

Ratios to average net assets of:

 

Expenses

    0.48 %3      0.48     0.48     0.48     0.48     0.48

Net investment income

    3.83 %3      3.38     2.95     3.66     2.78     3.14

Portfolio turnover rate4

    5     46     41     16     20     28

 

             
WisdomTree International Hedged Quality
Dividend Growth Fund
 

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
    For the
Year Ended
March 31, 2017
 

Net asset value, beginning of period

  $ 41.17     $ 30.61     $ 32.14     $ 30.78     $ 28.39     $ 25.73  

Investment operations:

 

Net investment income1

    0.73       0.88       0.78       0.64       0.58       0.56  

Net realized and unrealized gain (loss)

    2.29       10.54       (1.59     0.83       1.99       2.80  

Net increase from payment by affiliate

          0.08                          

Total from investment operations

    3.02       11.50       (0.81     1.47       2.57       3.36  

Dividends to shareholders:

 

Net investment income

    (0.86     (0.94     (0.72     (0.11     (0.18     (0.70

Net asset value, end of period

  $ 43.33     $ 41.17     $ 30.61     $ 32.14     $ 30.78     $ 28.39  

TOTAL RETURN2

    7.29     37.85 %5      (2.70 )%      4.78     9.05     13.26

RATIOS/SUPPLEMENTAL DATA:

 

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

  $ 1,052,972     $ 899,491     $ 592,346     $ 438,708     $ 543,192     $ 479,727  

Ratios to average net assets of:

 

Expenses

    0.58 %3,6,7      0.58 %6,7      0.58 %6,7      0.58     0.58     0.58

Net investment income

    3.31 %3,6      2.37 %6      2.32 %6      2.07     1.89     2.14

Portfolio turnover rate4

    2     67     61     56     42     53
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 for the WisdomTree International Hedged Quality Dividend Growth Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

Annualized.

 

4 

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.

 

5 

Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been 0.27% lower.

 

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.

 

46   WisdomTree Trust


Table of Contents

Financial Highlights (concluded)

WisdomTree Trust

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

 

 

WisdomTree Japan Hedged Equity Fund  

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
    For the
Year Ended
March 31, 2017
 

Net asset value, beginning of period

  $ 61.01     $ 42.64     $ 50.42     $ 55.76     $ 50.40     $ 43.85  

Investment operations:

 

Net investment income1

    0.63       1.02       1.05       1.06       0.92       0.86  

Net realized and unrealized gain (loss)

    2.47       18.73       (7.52     (5.03     5.81       6.67  

Net increase from payment by affiliate

          0.00 2                         

Total from investment operations

    3.10       19.75       (6.47     (3.97     6.73       7.53  

Dividends to shareholders:

 

Net investment income

    (0.54     (1.38     (1.31     (1.37     (1.37     (0.98

Net asset value, end of period

  $ 63.57     $ 61.01     $ 42.64     $ 50.42     $ 55.76     $ 50.40  

TOTAL RETURN3

    5.11     46.97 %4      (13.26 )%      (7.20 )%      13.45     17.45

RATIOS/SUPPLEMENTAL DATA:

 

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

  $ 1,853,018     $ 1,674,759     $ 1,709,801     $ 3,254,417     $ 6,607,000     $ 8,411,670  

Ratios to average net assets of:

 

Expenses

    0.48 %5      0.48     0.48     0.48     0.48     0.48

Net investment income

    2.05 %5      2.03     2.08     1.96     1.67     1.91

Portfolio turnover rate6

    3     25     20     23     18     37

 

             

WisdomTree Japan Hedged SmallCap

Equity Fund

 

For the

Six Months Ended
September 30, 2021

(unaudited)

    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
    For the
Year Ended
March 31, 2017
 

Net asset value, beginning of period

  $ 44.76     $ 33.88     $ 39.57     $ 44.13     $ 37.28     $ 31.24  

Investment operations:

 

Net investment income1

    0.56       0.64       0.75       0.51       0.64       0.70  

Net realized and unrealized gain (loss)

    0.87       11.45       (5.52     (4.31     6.91       5.94  

Total from investment operations

    1.43       12.09       (4.77     (3.80     7.55       6.64  

Dividends to shareholders:

 

Net investment income

    (0.48     (1.21     (0.92     (0.76     (0.70     (0.60

Net asset value, end of period

  $ 45.71     $ 44.76     $ 33.88     $ 39.57     $ 44.13     $ 37.28  

TOTAL RETURN3

    3.26     36.31     (12.41 )%      (8.77 )%      20.42     21.64

RATIOS/SUPPLEMENTAL DATA:

 

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

  $ 45,707     $ 31,332     $ 44,049     $ 83,097     $ 207,434     $ 115,561  

Ratios to average net assets of:

 

Expenses

    0.58 %5      0.58     0.58     0.58     0.58     0.58

Net investment income

    2.53 %5      1.67     1.90     1.20     1.51     2.11

Portfolio turnover rate6

    3     41     36     38     30     48
1 

Based on average shares outstanding.

 

2 

Amount represents less than $0.005.

 

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. Total return calculated for a period of less than one year is not annualized.

 

4 

Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been unchanged .

 

5 

Annualized.

 

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.

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Table of Contents

Notes to Financial Statements (unaudited)

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 Hedged Equity Fund (“Europe Hedged Equity Fund”)

     December 31, 2009  

WisdomTree Europe Hedged SmallCap Equity Fund (“Europe Hedged SmallCap Equity Fund”)

     March 4, 2015  

WisdomTree Germany Hedged Equity Fund (“Germany Hedged Equity Fund”)

     October 17, 2013  

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

     May 7, 2014  

WisdomTree Japan Hedged Equity Fund (“Japan Hedged Equity Fund”)

     June 16, 2006  

WisdomTree Japan Hedged SmallCap Equity Fund (“Japan Hedged SmallCap Equity Fund”)

     June 28, 2013  

Each Fund seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree Investments, Inc. (“WisdomTree Investments”). WisdomTree Investments 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 Investments 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 believes 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 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 for all Funds except for Forward Contracts in certain Asian currencies (Chinese renminbi, Chinese yuan, Hong Kong dollar, Indian rupee, Indonesian rupiah, Malaysian ringgit, Philippine peso,

 

48   WisdomTree Trust


Table of Contents

Notes to Financial Statements (unaudited) (continued)

 

Singapore dollar, South Korean won, New Taiwan dollar, and the Thai baht) which are valued daily using WM/Reuters closing forward rates as of 2:00 p.m. Singapore time.

In certain instances, such as when reliable market valuations are not readily available, a Fund’s investments, which include derivatives, will be fair valued in accordance with the Fund’s pricing policy. The Board of Trustees has established a pricing committee (the “Pricing Committee”) which is comprised of senior representatives of WTAM and which 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 Pricing Committee 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 Pricing Committee 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 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

 

WisdomTree Trust      49  


Table of Contents

Notes to Financial Statements (unaudited) (continued)

 

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 Pricing Committee may include significant unobservable inputs and therefore such financial instruments would be reflected as a Level 3 of the fair value hierarchy. The Pricing Committee 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 Pricing Committee 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 six months ended September 30, 2021, 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 period ended September 30, 2021 and open positions in such derivatives as of September 30, 2021 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to 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. The Funds’ derivative agreements may also contain credit-risk related contingent features which include, but are not limited to, a percentage decline in the Funds’ NAV over a specified time period. If an event occurred at September 30, 2021 that triggered a contingent feature, the counterparty to the agreement may require the Funds to post additional collateral or terminate the derivative positions and demand payment. Any collateral posted with respect to the derivative positions would be used to offset or reduce the payment. The maximum exposure to derivatives agreements with credit-risk related contingent features would be the total value of derivatives in net liability positions for each Fund, as disclosed in the table included in Note 2 — Master Netting Arrangements. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of September 30, 2021, if any, is reflected as a footnote within each Fund’s Schedule of Investments.

As of September 30, 2021, 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 Hedged Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
   $ 40,451,374      Unrealized depreciation on
foreign currency contracts
   $ 26,303  

Europe Hedged SmallCap Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     1,045,530      Unrealized depreciation on
foreign currency contracts
     685  

Germany Hedged Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     615,948      Unrealized depreciation on
foreign currency contracts
     409  

International Hedged Quality Dividend Growth Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     18,645,763      Unrealized depreciation on
foreign currency contracts
     52,895  

Japan Hedged Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     28,538,246      Unrealized depreciation on
foreign currency contracts
     1,159,957  

Japan Hedged SmallCap Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     770,304      Unrealized depreciation on
foreign currency contracts
     886  

 

50   WisdomTree Trust


Table of Contents

Notes to Financial Statements (unaudited) (continued)

 

For the six months ended September 30, 2021, 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 Hedged Equity Fund

 

Foreign currency risk

   $ 57,115,781      $ (18,901,684

Europe Hedged SmallCap Equity Fund

 

Foreign currency risk

     1,182,199        (118,641

Germany Hedged Equity Fund

 

Foreign currency risk

     899,198        (325,115

International Hedged Quality Dividend Growth Fund

 

Foreign currency risk

     26,159,208        (4,524,868

Japan Hedged Equity Fund

 

Foreign currency risk

     51,087,116        (29,526,008

Japan Hedged SmallCap Equity Fund

 

Foreign currency risk

     900,317        (297,332

 

  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

 

  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 six months ended September 30, 2021, the volume of derivative activity (based on the average of month-end balances) for each Fund was as follows:

 

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

Europe Hedged Equity Fund

 

Foreign currency risk

   $ 2,002,839,103      $ 4,023,608,828  

Europe Hedged SmallCap Equity Fund

 

Foreign currency risk

     44,753,221        89,963,947  

Germany Hedged Equity Fund

 

Foreign currency risk

     31,621,557        63,615,247  

International Hedged Quality Dividend Growth Fund

 

Foreign currency risk

     989,860,282        1,989,443,289  

Japan Hedged Equity Fund

 

Foreign currency risk

     1,818,185,211        3,604,435,006  

Japan Hedged SmallCap Equity Fund

 

Foreign currency risk

     32,552,769        65,476,494  

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 (net of 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 at the fair value of securities received 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. 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 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 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

 

WisdomTree Trust      51  


Table of Contents

Notes to Financial Statements (unaudited) (continued)

 

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 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 may not enter into such contracts for speculative purposes. During the fiscal period ended September 30, 2021, the Funds utilized foreign currency contracts primarily to offset exposure to foreign currencies consistent with each Fund’s investment objective. 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. However, if a Fund is in an unrealized loss position on a foreign currency contract, it may be required to pledge collateral (or additional collateral) to the counterparty. If a Fund is in an unrealized gain position on a foreign currency contract, it may receive collateral from the counterparty. In the event of a default or inability of counterparties to meet the terms of their contracts, the non-defaulting party generally has the right to liquidate the collateral and apply the proceeds in satisfaction of the contract terms.

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

 

52   WisdomTree Trust


Table of Contents

Notes to Financial Statements (unaudited) (continued)

 

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.

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.

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). Generally, for transactions traded under an ISDA Master Agreement, the collateral requirements are calculated by netting the marked to market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by a Fund and the counterparty. Generally, the amount of collateral due from or to a counterparty must exceed a minimum transfer amount threshold before a transfer is required to be made. 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

 

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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.

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 September 30, 2021, 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 Hedged Equity Fund

 

Securities Lending

  $ 38,470,136     $     $ (38,470,136 )1    $     $     $     $     $  

Foreign Currency Contracts

    40,451,374       (26,303           40,425,071       26,303       (26,303            

Europe Hedged SmallCap Equity Fund

               

Securities Lending

    939,713             (939,713 )1                               

Foreign Currency Contracts

    1,045,530       (679           1,044,851       685       (679           6  

Germany Hedged Equity Fund

               

Foreign Currency Contracts

    615,948       (399           615,549       409       (399           10  

International Hedged Quality Dividend Growth Fund

               

Securities Lending

    52,958,251             (52,958,251 )1                               

Foreign Currency Contracts

    18,645,763       (52,895           18,592,868       52,895       (52,895            

Japan Hedged Equity Fund

 

Securities Lending

    25,833,872             (25,833,872 )1                               

Foreign Currency Contracts

    28,538,246       (1,159,957           27,378,289       1,159,957       (1,159,957            

Japan Hedged SmallCap Equity Fund

               

Securities Lending

    5,239,562             (5,239,562 )1                               

Foreign Currency Contracts

    770,304       (886           769,418       886       (886            
  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

 

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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. 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. Mellon is 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.

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 Hedged Equity Fund

     0.58

Europe Hedged SmallCap Equity Fund

     0.58

Germany Hedged Equity Fund

     0.48

International Hedged Quality Dividend Growth Fund

     0.58

Japan Hedged Equity Fund

     0.48

Japan Hedged SmallCap Equity 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 period ended September 30, 2021, 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, in an amount equal to the indirect AFFE (which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies) attributable to each Fund’s investment in affiliated ETFs. 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”.

WTAM and/or WisdomTree Investments (collectively herein, “WT”) may from time to time own shares of a Fund. As of and for the six months ended September 30, 2021, 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 September 30, 2021            For the six months ended
September 30, 2021
 
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
 

International Hedged Quality Dividend Growth Fund

          $              $ 15  

Japan Hedged Equity Fund

     21        1,326                21  

4. CAPITAL SHARE TRANSACTIONS

As of September 30, 2021, 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. Except when aggregated in creation units, 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 and/or an amount of cash. Investors 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.

 

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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 six months ended September 30, 2021 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 Hedged Equity Fund

   $ 116,292,267      $ 82,559,524      $ 50,884,092      $ 26,697,259  

Europe Hedged SmallCap Equity Fund

     4,044,244        2,958,298        14,160,536         

Germany Hedged Equity Fund

     1,975,777        1,551,729                

International Hedged Quality Dividend Growth Fund

     64,316,000        21,941,660        86,571,065         

Japan Hedged Equity Fund

     93,858,923        55,815,907        360,925,811        262,203,415  

Japan Hedged SmallCap Equity Fund

     1,905,124        919,556        13,732,739         

6. FEDERAL INCOME TAXES

At September 30, 2021, 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
           Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
   

Net
Unrealized
Appreciation/

(Depreciation)

   

Total Net
Unrealized
Appreciation/

(Depreciation)

 

Europe Hedged Equity Fund

  $ 1,732,980,150     $ 476,896,513     $ (131,367,995   $ 345,528,518             $     $     $     $ 345,528,518  

Europe Hedged SmallCap Equity Fund

    48,417,363       7,607,559       (2,057,667     5,549,892                     (6     (6     5,549,886  

Germany Hedged Equity Fund

    27,754,815       5,647,967       (2,337,904     3,310,063                     (10     (10     3,310,053  

International Hedged Quality Dividend Growth Fund

    845,041,471       221,943,650       (17,619,918     204,323,732               1,217,551       (7,383     1,210,168       205,533,900  

Japan Hedged Equity Fund

    1,781,210,781       238,402,574       (173,555,748     64,846,826                     (265     (265     64,846,561  

Japan Hedged SmallCap Equity Fund

    48,367,928       3,629,814       (3,434,123     195,691                                 195,691  
  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.

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. Foreign withholding taxes, as applicable, are accrued based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Foreign withholding taxes are accrued and applied to foreign income, net realized capital gains and net unrealized appreciation, as applicable, as the foreign income is earned or capital gains and unrealized appreciation are recorded. The dollar amount of applicable foreign withholding taxes on foreign income is included net in the Statements of Operations in “Dividend Income”, the foreign capital gains tax applicable on the disposal of securities is included in the Statements of Operations in “Net realized gain (loss) from investment transactions” and the dollar amount of deferred foreign capital gains tax applicable on the unrealized appreciation on securities held is included in the Statements of Operations in “Net increase (decrease) in unrealized appreciation/depreciation from investment transactions”. The Funds record a foreign tax reclaim receivable on the ex-dividend date 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 that have been recorded but not yet received are shown on the Statements of Liabilities in “Receivables: Foreign tax reclaims”.

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

 

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Notes to Financial Statements (unaudited) (concluded)

 

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 period ended September 30, 2021, the ECJ tax reclaims received by the Funds did not exceed the foreign withholding taxes of the respective Funds.

7. ADDITIONAL INFORMATION

The respiratory disease caused by a novel coronavirus (“COVID-19”) has spread globally for over a year, resulting in a global pandemic and major disruption to global markets and economies. In an organized attempt to contain and mitigate the effects of COVID-19, governments and businesses world-wide took aggressive measures, including businesses canceling dividends to preserve cash, governments closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations. COVID-19 has resulted in the disruption of and delays in the delivery of healthcare services and processes, the cancellation of organized events and educational institutions, the disruption of production and supply chains, a decline in consumer demand for certain goods and services, and general concern and uncertainty, all of which have contributed to increased volatility in global markets. In recent months, however, the rapid COVID-19 vaccination rollout in the United States and certain other developed countries, coupled with the passage of stimulus programs in the U.S. and abroad, have resulted in a reversal of many of these trends including the re-opening of businesses, a reduction in quarantine requirements, increased consumer demand, and the resumption of certain in-person schooling, travel and events. Despite these positive trends, the prevalence of new COVID-19 variants, a failure to achieve herd immunity, or other unforeseen circumstances may result in the continued spread of the virus throughout unvaccinated populations or a resurgence in infections among vaccinated populations. As a result, it remains unclear if recent positive trends will continue in developed markets and whether such trends will spread world-wide to countries with limited access to vaccines that are still experiencing rising COVID-19 cases, hospitalizations and deaths.

The effects of COVID-19 have affected and are likely to continue to affect certain sectors and industries more dramatically than others, and the effects borne by some will negatively affect the value of the issuers in those sectors and industries, which may adversely affect the value of a Fund’s investments in those sectors or industries. It is also true that the speed at which global economies recover, or fail to recover, from the COVID-19 pandemic will affect certain sectors, industries, and issuers more dramatically than others, which in turn may adversely affect certain Fund investments.

COVID-19, and other epidemics and pandemics that may arise in the future, could adversely affect the economies of many nations, the global economy, individual companies and capital markets in ways that cannot be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to limited health care resources, including access to COVID-19 vaccinations and treatments. Political, economic and social stresses caused by COVID-19 also may exacerbate other pre-existing political, social and economic risks in certain countries. The duration of COVID-19 and its effects cannot be determined fully at this time, but the effects could be present for an extended period of time. It is impossible to predict the effects on the Funds of these or similar events and market conditions in the future. However, it is possible that these or similar events and market conditions could have a significant and adverse effect on the NAV and/or risk profile of a Fund.

 

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

 

Consideration of the Approval and Renewal of Investment Advisory and Sub-Advisory Agreements

At a meeting of the Board of Trustees (the “Board” or the “Trustees”) of the WisdomTree Trust (the “Trust”) held on September 27-28, 2021 (the “Meeting”), the Trustees, including those Trustees who are not “interested persons” (as defined in the Investment Company Act of 1940, as amended) of the Trust (the “Independent Trustees”), considered the renewal of (i) the Investment Advisory Agreements between WisdomTree Asset Management, Inc. (“WTAM”) and the Trust, on behalf of its series included in this report (each, a “Fund,” and, collectively, the “Funds”), pursuant to which WTAM provides the Funds with investment advisory services (the “Advisory Agreements”), and (ii) the Sub-Advisory Agreement (the “Sub-Advisory Agreement” and, the Advisory Agreements together with the Sub-Advisory Agreement (the “Agreements”)), pursuant to which Mellon Investments Corporation (the “Sub-Adviser”) coordinates the investment and reinvestment of the assets of the Funds included in this report.

The Trustees requested, and WTAM provided, such information as the Trustees, with advice from counsel to the Trust and independent legal counsel, deemed reasonably necessary to evaluate the Agreements. At a meeting of a committee of Independent Trustees (the “Contracts Review Committee”) held on August 9, 2021, representatives from WTAM presented detailed information to the Trustees relating to the continuance of the Agreements, and the Trustees, including the Independent Trustees, reviewed and discussed such information. Further information was presented at the Board’s request at the Meeting.

The Independent Trustees were assisted in their review by independent legal counsel and met with counsel in executive session separate from WTAM representatives and the Sub-Advisers. In considering the approval and renewal of the Agreements, the Board considered all factors that it believed to be relevant, including those discussed below. The Board did not identify any one factor as dispositive, and each Trustee may have attributed different weights to the factors considered. Each Fund was considered separately.

Analysis of Nature, Extent, and Quality of Services Provided to the Funds. The Board considered information provided to them at the Meeting and in previous presentations throughout the year from WTAM representatives regarding the nature, extent, and quality of the services provided to the Funds, recognizing WTAM’s and the Sub-Advisers’ operational capabilities and resources. The Board also discussed the role of WisdomTree Investments, Inc. (“WTI”), the parent of WTAM, as index provider to certain Funds, which comprise the substantial majority of assets in the WisdomTree fund complex. The Board noted that the strategies represented by those Funds tracking affiliated WTI indexes are unique, based on WTI’s intellectual property and are only available for use by applicable Funds through WTAM. The Board noted WTAM’s belief that shareholders have invested in such Funds on the strength of WTI’s intellectual property and WTAM’s industry standing and reputation and with the expectation that WTAM will have a continuing role in providing advisory services to the Funds based on the WTI indexes. The Board also noted the extensive responsibilities that WTAM has as investment adviser to the Funds, including: the selection of, and supervisory responsibilities and activities over, the Sub-Advisers, including oversight of the Sub-Advisers’ adherence to each Fund’s investment strategy and restrictions, monitoring of the Sub-Advisers’ buying and selling of securities and derivatives transactions, review of Sub-Adviser performance, review of proxies voted by the Sub-Advisers and oversight of, and the provision of consultation to, the Sub-Advisers with respect to the creation of custom creation or redemption baskets for authorized participants; oversight of the daily valuation of the Funds’ portfolio holdings; oversight of general Fund compliance with federal and state laws; and implementation of Board directives as they relate to the Funds. The Board also considered research support available to, and management capabilities of, the Funds’ management personnel and that WTAM provides oversight of day-to-day Fund operations, including fund accounting, tax matters, administration and legal assistance in meeting disclosure and regulatory requirements. Based on management’s representations, the Board expected that there would be no reduction in the scope of services required by or provided by WTAM and the Sub-Advisers under the relevant Agreements. The Board noted that WTAM has continued to commit significant resources toward the fund complex and has made substantial investments to improve the services offered by WTAM, which benefit Fund shareholders.

Based on review of this information and the other factors considered at the Meeting, the Board concluded that the nature, extent and quality of services provided by WTAM and the Sub-Advisers under the Advisory Agreements and Sub-Advisory Agreements, respectively, are adequate and appropriate and supported the Board’s approval of the approval and renewal of the Agreements.

Comparative Analysis of the Funds’ Performance and Management Fee and Expense Ratio. The Board reviewed reports prepared by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data, which included information (1) measuring each index Fund’s performance by how well it tracked the relevant benchmark index, (2) comparing, with respect to the actively-managed Funds, each Fund’s performance with the performance of a group of comparable funds (the “Performance Group”) for various periods ended May 31, 2021, and (3) comparing each Fund’s actual management fees and total expenses with those of a group of comparable funds (the “Expense Group”) and, with respect to total expenses, with a broader group of funds (the “Expense Universe”), the information for which was derived in part from fund financial statements available to Broadridge as of the date of its analysis. The Contracts Review Committee and the Independent Trustees previously had reviewed and discussed the methodology Broadridge used to select the Performance Groups, Expense Groups and Expense Universes. The

 

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

 

Board noted that the Performance Groups, Expense Groups and Expense Universes included only pure-index and index-based exchange traded funds (“ETFs”) as comparison funds, except that the Performance Groups, Expense Groups and Expense Universes for the actively-managed Funds included only actively-managed ETFs as comparison funds. The Board also noted that due to the special characteristics of certain Funds, there are limitations in providing comparable funds in the Performance Groups, Expense Groups and Expense Universes, and the information in the Broadridge reports may or may not provide meaningful direct comparisons to the Funds.

The Board discussed the index Funds’ performance, noting that the substantial majority of index Funds seek to track their own WisdomTree benchmark index. During the prior year, the Board received periodic reports on the Funds’ performance in comparison to their relevant benchmark indexes. The Board also discussed the performance of the actively-managed Funds and noted that total return performance of the Funds was variously above, at and below the relevant Performance Group medians for the time periods measured. In response to questions from the Independent Trustees, WTAM representatives discussed the relative performance of the Funds and the factors affecting such performance. On that basis, the Board determined to continue to monitor carefully disparities in performance — both positive and negative — but did not believe that the disparities in the past reflected any characteristics requiring immediate action by WTAM or a Sub-Adviser.

The Board also reviewed the range of actual management fees and total expenses of the Expense Group funds and, with respect to total expenses, Expense Universe funds, and discussed the results of the comparisons. With respect to comparisons of actual management fees, the Board noted the Funds’ unitary fee structure and that the Expense Groups and Expense Universes generally included both ETFs with and without a unitary fee structure. The Board also noted that certain comparison funds in certain Expense Groups and Expense Universes benefited from waivers of all or a portion of their management fees and reimbursement of certain operating expenses. The Board noted that the total expenses of many of the Funds were within five basis points of the median or average total expenses of the funds in the Funds’ respective Expense Groups. In those specific instances where a Fund’s total expenses departed more significantly from comparative funds, the Independent Trustees sought explanations from WTAM, which generally attributed the disparities to the limitations within peer data and/or the unique attributes of a Fund.

The Board considered the fees to the Sub-Advisers in relation to the fees paid to WTAM by the Funds and the respective services provided by the Sub-Advisers and WTAM. The Board also noted that the Sub-Advisers’ fees are paid by WTAM (out of its fee paid by the relevant Funds) and not the Funds. The Board considered the meaningful differences in the services that WTAM provides to the Funds as compared to the Sub-Advisers, including that the role of a Sub-Adviser in making investment recommendations with respect to a Fund tracking an index is a rules-based function, with oversight by WTAM in seeking to ensure compliance with such rules. The Board also considered the role of a Sub-Adviser in making investment recommendations with respect to a Fund that is model-based, with oversight by WTAM in seeking to ensure consistency with such quantitative models. The Board also considered the entrepreneurial and expense risk borne by WTAM that is associated with the Funds’ unitary fee structure, which frequently includes minimum fees (such as those to a Sub-Adviser), regardless of whether the asset size of a Fund has grown to a sufficient size.

Based on this review and the other factors considered at the Meeting, the Board concluded that, with respect to each Fund, the Fund’s performance, the fees paid to WTAM and the relevant Sub-Adviser and the Fund’s total expenses supported the Board’s approval and renewal of the relevant Agreements.

Analysis of Profitability and Economies of Scale. WTAM representatives reviewed the expenses allocated and profit received by WTAM and the resulting profitability percentage for managing each Fund and the aggregate profitability percentage to WTAM for managing the WisdomTree fund complex, and the method used to determine the expenses and profit.

The Board considered the profitability analysis (1) as part of its evaluation of whether the fees under the Agreements bear a reasonable relationship to the mix of services provided by WTAM and the Sub-Advisers, including the nature, extent and quality of such services, and (2) in light of the relevant circumstances for each Fund and the extent to which economies of scale would be realized if the Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund shareholders. WTAM representatives noted that a discussion of economies of scale is predicated on a Fund having achieved a substantial size and that, if a Fund’s assets had been decreasing, the possibility that WTAM may have realized material economies of scale would be less. WTAM representatives also noted that, as a result of shared and allocated costs among the WisdomTree funds, the extent of economies of scale could depend substantially on the level of assets in the fund complex as a whole and the relative size and asset size changes among the Funds. The Board noted that, in the past, certain Funds had grown rapidly over a relatively short period of time after longer periods of slow or no growth, during which there were years of losses for WTAM in managing such Funds that had only recently turned profitable and years of substantial cumulative losses to WTAM in managing the fund complex as a whole. WTAM representatives stated that there has been significant volatility in the assets of individual Funds and in the fund complex as a whole over time (including volatility in profitability) and that it was not clear that current asset levels will be maintained. WTAM representatives noted that assets in certain Funds have diminished at times at a rapid rate (including during the last year) and could continue to do so. WTAM representatives also noted that economies of scale currently are shared with the Funds by way of the unitary fee structure of the Trust, as well as through additional investment in the WisdomTree business. The Board noted that the

 

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

 

Contracts Review Committee had focused on the issue of economies of scale during its meetings. The Board also noted that it would continue to monitor the sharing of economies of scale, focusing in particular on Funds that have experienced significant asset growth, to determine the appropriateness of adding breakpoints in the future. The Board also considered potential benefits to WTAM and the Sub-Advisers from acting as investment adviser and sub-advisers, respectively, and noted that there were no soft dollar arrangements in effect for trading the Funds’ investments. Based on this review, the Board concluded that the profitability results were consistent with the services rendered and service levels provided by WTAM and the entrepreneurial risk WTAM has undertaken over time.

*    *    *    *    *    *

At the conclusion of these discussions, the Board agreed that it had been furnished with sufficient information to make an informed business decision with respect to the approval to renew the Agreements. In evaluating the Agreements, the Board considered the conclusions and determinations discussed above and also relied on its previous knowledge, gained through meetings and other interactions with WTAM and the Sub-Advisers, of the Funds and the services provided to the Funds by WTAM and the Sub-Advisers. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the Funds and the investment advisory and other services provided under the Agreements. In light of the foregoing, the Board, including a majority of the Independent Trustees, determined to approve the renewal of the Agreements.

 

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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 Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on 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.

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.

 

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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 Investments, 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 Investments, 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. 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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