<SEC-DOCUMENT>0001752724-22-221980.txt : 20220928
<SEC-HEADER>0001752724-22-221980.hdr.sgml : 20220928
<ACCEPTANCE-DATETIME>20220928162335
ACCESSION NUMBER:		0001752724-22-221980
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220731
FILED AS OF DATE:		20220928
DATE AS OF CHANGE:		20220928
PERIOD START:           	20221031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABRDN AUSTRALIA EQUITY FUND, INC.
		CENTRAL INDEX KEY:			0000779336
		IRS NUMBER:				133304681
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04438
		FILM NUMBER:		221276354

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEEN AUSTRALIA EQUITY FUND INC
		DATE OF NAME CHANGE:	20010531

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST AUSTRALIA FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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          <ccc>XXXXXXXX</ccc>
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      <regName>ABRDN AUSTRALIA EQUITY FUND, INC.</regName>
      <regFileNumber>811-04438</regFileNumber>
      <regCik>0000779336</regCik>
      <regLei>5493003SC25JJLM4UH12</regLei>
      <regStreet1>1900 Market Street</regStreet1>
      <regStreet2>Suite 200</regStreet2>
      <regCity>PHILADELPHIA</regCity>
      <regStateConditional regCountry="US" regState="US-PA"/>
      <regZipOrPostalCode>19103</regZipOrPostalCode>
      <regPhone>215-405-5700</regPhone>
      <seriesName>ABRDN AUSTRALIA EQUITY FUND, INC.</seriesName>
      <seriesLei>5493003SC25JJLM4UH12</seriesLei>
      <repPdEnd>2022-10-31</repPdEnd>
      <repPdDate>2022-07-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>139636598.41</totAssets>
      <totLiabs>10858895.38</totLiabs>
      <netAssets>128777703.03</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>7081500.99000000</amtPayAftOneYrBanksBorr>
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      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
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      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>1230377.32000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn rtn1="-0.24000000" rtn2="-16.03000000" rtn3="10.63000000"/>
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        <othMon1 netRealizedGain="-53678.51000000" netUnrealizedAppr="-3855900.66000000"/>
        <othMon2 netRealizedGain="363455.67000000" netUnrealizedAppr="-16396290.69000000"/>
        <othMon3 netRealizedGain="420025.64000000" netUnrealizedAppr="10730011.11000000"/>
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      <mon1Flow redemption="0.00000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon2Flow redemption="0.00000000" reinvestment="1302608.26000000" sales="0.00000000"/>
      <mon3Flow redemption="0.00000000" reinvestment="0.00000000" sales="0.00000000"/>


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        <name>IDP Education Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AUSTRALIA AND NEW ZEALAND</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aristocrat Leisure Ltd</name>
        <lei>529900TE2HO3OZKYKC27</lei>
        <title>Aristocrat Leisure Ltd</title>
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          <isin value="AU000000ALL7"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASX Ltd</name>
        <lei>549300VSBVYUCBIQKT71</lei>
        <title>ASX Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000ASX7"/>
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        <balance>57700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>3586329.65000000</valUSD>
        <pctVal>2.784899532774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cochlear Ltd</name>
        <lei>5493001OLLWY8KV5UC08</lei>
        <title>Cochlear Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000COH5"/>
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        <balance>22510.00000000</balance>
        <units>NS</units>
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        <pctVal>2.634665776892</pctVal>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Macquarie Group Ltd</name>
        <lei>ACMHD8HWFMFUIQQ8Y590</lei>
        <title>Macquarie Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MQG1"/>
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        <balance>43250.00000000</balance>
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        <pctVal>4.298322255919</pctVal>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Insurance Australia Group Ltd</name>
        <lei>549300PFEWKNHRG25N08</lei>
        <title>Insurance Australia Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000IAG3"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Wesfarmers Ltd</name>
        <lei>5493003L32ZX9557ST85</lei>
        <title>Wesfarmers Ltd</title>
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          <isin value="AU000000WES1"/>
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        <name>Commonwealth Bank of Australia</name>
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        <name>Evolution Mining Ltd</name>
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        <name>Northern Star Resources Ltd</name>
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        <name>Mercury NZ Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>James Hardie Industries PLC</name>
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        <invCountry>IE</invCountry>

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        <name>Xero Ltd</name>
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        <name>Woolworths Group Ltd</name>
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        <name>ResMed Inc</name>
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        <title>ResMed Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OZ Minerals Ltd</name>
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        <title>OZ Minerals Ltd</title>
        <cusip>000000000</cusip>
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        <balance>287500.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Goodman Group</name>
        <lei>N/A</lei>
        <title>Goodman Group</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000GMG2"/>
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        <balance>292340.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>4278413.59000000</valUSD>
        <pctVal>3.322324819695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medibank Pvt Ltd</name>
        <lei>BDYVSUPTML83OLINBJ17</lei>
        <title>Medibank Pvt Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MPL3"/>
        </identifiers>
        <balance>812900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>1954644.10000000</valUSD>
        <pctVal>1.517843581621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Woodside Energy Group Ltd</name>
        <lei>2549005ZC5RXAOO7FH41</lei>
        <title>Woodside Energy Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000224040"/>
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        <balance>305199.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>6891539.53000000</valUSD>
        <pctVal>5.351500584223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Telstra Corp Ltd</name>
        <lei>PCTXNQGRJVR3OG33JG65</lei>
        <title>Telstra Corp Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000TLS2"/>
        </identifiers>
        <balance>1907500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>5213215.02000000</valUSD>
        <pctVal>4.048227990823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Endeavour Group Ltd/Australia</name>
        <lei>254900JAN9FOLMWAD533</lei>
        <title>Endeavour Group Ltd/Australia</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000154833"/>
        </identifiers>
        <balance>574300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>3199674.58000000</valUSD>
        <pctVal>2.484649519843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Charter Hall Group</name>
        <lei>N/A</lei>
        <title>Charter Hall Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CHC0"/>
        </identifiers>
        <balance>120400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>1088066.62000000</valUSD>
        <pctVal>0.844918486973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Megaport Ltd</name>
        <lei>N/A</lei>
        <title>Megaport Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MP15"/>
        </identifiers>
        <balance>137200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>942006.25000000</valUSD>
        <pctVal>0.731497944003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rio Tinto PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>Rio Tinto PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0007188757"/>
        </identifiers>
        <balance>72180.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.82115300"/>
        <valUSD>4357468.84000000</valUSD>
        <pctVal>3.383713746614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mirvac Group</name>
        <lei>N/A</lei>
        <title>Mirvac Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MGR9"/>
        </identifiers>
        <balance>1643100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>2489273.62000000</valUSD>
        <pctVal>1.933000481783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CSL Ltd</name>
        <lei>529900ECSECK5ZDQTE14</lei>
        <title>CSL Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CSL8"/>
        </identifiers>
        <balance>52600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>10710253.13000000</valUSD>
        <pctVal>8.316853677305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Australia Bank Ltd</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
        <title>National Australia Bank Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000NAB4"/>
        </identifiers>
        <balance>376500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>8131085.38000000</valUSD>
        <pctVal>6.314047532052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shopping Centres Australasia Property Group</name>
        <lei>N/A</lei>
        <title>Shopping Centres Australasia Property Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SCP9"/>
        </identifiers>
        <balance>666600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>1391177.00000000</valUSD>
        <pctVal>1.080293379418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spark New Zealand Ltd</name>
        <lei>529900HUN51H3Y7QBB66</lei>
        <title>Spark New Zealand Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZTELE0001S4"/>
        </identifiers>
        <balance>682500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>2176903.42000000</valUSD>
        <pctVal>1.690435043318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BHP Group Ltd</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BHP4"/>
        </identifiers>
        <balance>458100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>12536069.55000000</valUSD>
        <pctVal>9.734658450212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional US Government Money Market Fund</title>
        <cusip>857492706</cusip>
        <identifiers>
          <isin value="US8574927062"/>
        </identifiers>
        <balance>83312.58000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83312.58000000</valUSD>
        <pctVal>0.064694879656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional US Government Money Market Fund</title>
        <cusip>857492706</cusip>
        <identifiers>
          <isin value="US8574927062"/>
        </identifiers>
        <balance>14082.75000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14082.75000000</valUSD>
        <pctVal>0.010935705225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Australia &amp; New Zealand Banking Group Ltd</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
        <title>Australia &amp; New Zealand Banking Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ANZ3"/>
        </identifiers>
        <balance>271700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>4391014.53000000</valUSD>
        <pctVal>3.409763046462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pro Medicus Ltd</name>
        <lei>N/A</lei>
        <title>Pro Medicus Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000PME8"/>
        </identifiers>
        <balance>51700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>1810992.45000000</valUSD>
        <pctVal>1.406293486674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pilbara Minerals Ltd</name>
        <lei>5299000VV1CZVF5K9C16</lei>
        <title>Pilbara Minerals Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000PLS0"/>
        </identifiers>
        <balance>1279900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>2523617.98000000</valUSD>
        <pctVal>1.959669974399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Auckland International Airport Ltd</name>
        <lei>549300HFZIZDJWB7AK60</lei>
        <title>Auckland International Airport Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZAIAE0002S6"/>
        </identifiers>
        <balance>554840.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43122900"/>
        <valUSD>2597742.98000000</valUSD>
        <pctVal>2.017230404703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beach Energy Ltd</name>
        <lei>8Q9PJD25OKTQT5FHUF40</lei>
        <title>Beach Energy Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BPT9"/>
        </identifiers>
        <balance>1503800.00000000</balance>
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        <valUSD>1937976.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Woodside Energy Group Ltd</name>
        <lei>2549005ZC5RXAOO7FH41</lei>
        <title>Woodside Energy Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000224040"/>
        </identifiers>
        <balance>1406.00000000</balance>
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        <valUSD>31847.41000000</valUSD>
        <pctVal>0.024730531179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-08-29</ncom:dateSigned>
      <ncom:nameOfApplicant>ABRDN AUSTRALIA EQUITY FUND, INC.</ncom:nameOfApplicant>
      <ncom:signature>Sharon Ferrari</ncom:signature>
      <ncom:signerName>Sharon Ferrari</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
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</edgarSubmission>
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</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>NPORT_1956_47332563_0722.htm
<TEXT>
<HTML><HEAD>
<TITLE>FOR VALIDATION PURPOSES ONLY - [153496.IAF]</TITLE>
</HEAD>
<BODY BGCOLOR='WHITE'> <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:18pt;font-style:Normal;font-weight:bold;line-height:21pt;text-align:left;text-decoration:none;text-transform:none;">Portfolio of
Investments&nbsp;<FONT style="font-size:11pt;line-height:14pt;">(unaudited)&nbsp;<BR> </FONT><FONT style="font-size:10pt;line-height:13pt;">As of July 31, 2022</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">abrdn Australia Equity Fund, Inc. </DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:0.5pt solid #000000;height:0.5pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:16.5pt;width:100%;" type="Block">
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100.00%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:6pt;padding-right:9pt;padding-top:3pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">Shares
 </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:3pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;">Description
 </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:3pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Industry
 and Percentage<BR> of Net Assets </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:6pt;padding-top:3pt; text-align:center;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.22%;">Value
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:99.46%;" bgcolor="#E8F3FF" colspan="4">COMMON
 STOCKS&#8212;107.1% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:9pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;white-space:nowrap;width:87.24%;" colspan="3">AUSTRALIA&#8212;97.6%
 </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:1.25pt;text-align:right;vertical-align:bottom;width:12.22%;">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:8.45pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#8201;&#8199;&#8199;127,500
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Aristocrat
 Leisure Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Hotels,
 Restaurants &amp; Leisure&#8212;2.5% </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:6pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:12.22%;" bgcolor="#E8F3FF">$
<FONT style="padding-left:1.93pt;"></FONT>&#8199;&#8199;&#8199;3,180,876 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:8.01pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;">&#8201;&#8199;&#8199;&#8199;57,700
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">ASX
 Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Capital
 Markets&#8212;2.8% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:13.18pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;
">&#8199;&#8199;&#8199;3,586,330
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:7.91pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#8201;&#8199;&#8199;271,700
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Australia
 &amp; New Zealand Banking Group Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;" bgcolor="#E8F3FF">Banks&#8212;3.4%
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:15.09pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;"
bgcolor="#E8F3FF">&#8199;&#8199;&#8199;4,391,015
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9.70pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;">&#8201;&#8199;&#8199;&#8199;18,113
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Australia
 &amp; New Zealand Banking Group Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;">Banks&#8212;0.2%
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:15.14pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;
">&#8201;&#8199;&#8199;&#8199;&#8199;239,190
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6.39pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#8199;1,503,800
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Beach
 Energy Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Oil,
 Gas &amp; Consumable Fuels&#8212;1.5% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:16.91pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;"
bgcolor="#E8F3FF">&#8199;&#8199;&#8199;1,937,977
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:7.24pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;">&#8201;&#8199;&#8199;458,100
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">BHP
 Group Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Metals
 &amp; Mining&#8212;9.7% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:14.56pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;
">&#8199;&#8199;12,536,070
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6.59pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#8201;&#8199;&#8199;120,400
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Charter
 Hall Group </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Equity
 Real Estate Investment Trusts (REITs)&#8212;0.8% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:14.03pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;"
bgcolor="#E8F3FF">&#8199;&#8199;&#8199;1,088,067
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:7.81pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;">&#8201;&#8199;&#8199;&#8199;22,510
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Cochlear
 Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Health
 Care Equipment &amp; Supplies&#8212;2.6% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:13.56pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;
">&#8199;&#8199;&#8199;3,392,862
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:8.12pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#8201;&#8199;&#8199;171,600
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Commonwealth
 Bank of Australia </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;" bgcolor="#E8F3FF">Banks&#8212;9.5%
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:15.64pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;"
bgcolor="#E8F3FF">&#8199;&#8199;12,186,586
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6.30pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;">&#8201;&#8199;&#8199;&#8199;52,600
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">CSL
 Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;">Biotechnology&#8212;8.3%
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:15.53pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;
">&#8199;&#8199;10,710,253
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6.92pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#8201;&#8199;&#8199;574,300
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Endeavour
 Group Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Food
 &amp; Staples Retailing&#8212;2.5% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:15.56pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;"
bgcolor="#E8F3FF">&#8199;&#8199;&#8199;3,199,675
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;">&#8199;1,080,900
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Evolution
 Mining, Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Metals
 &amp; Mining&#8212;1.6% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:15.03pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;
">&#8199;&#8199;&#8199;1,996,723
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6.23pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#8201;&#8199;&#8199;292,340
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Goodman
 Group </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Equity
 Real Estate Investment Trusts (REITs)&#8212;3.3% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:14.55pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;"
bgcolor="#E8F3FF">&#8199;&#8199;&#8199;4,278,414
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6.17pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;">&#8201;&#8199;&#8199;&#8199;99,200
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">IDP
 Education Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Diversified
 Consumer Services&#8212;1.6% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:15.25pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;
">&#8199;&#8199;&#8199;1,995,891
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:7.90pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#8201;&#8199;&#8199;571,700
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Insurance
 Australia Group Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;" bgcolor="#E8F3FF">Insurance&#8212;1.4%
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:14.26pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;"
bgcolor="#E8F3FF">&#8199;&#8199;&#8199;1,798,890
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:6.49pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;width:8.34%;">&#8201;&#8199;&#8199;&#8199;62,590
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">James
 Hardie Industries PLC </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Construction
 Materials&#8212;1.2% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:15.65pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;width:12.22%;
">&#8199;&#8199;&#8199;1,545,767
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:20.23pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">43,250
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Macquarie
 Group Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Capital
 Markets&#8212;4.3% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.96pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">5,535,281
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:16.56pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">812,900
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Medibank
 Pvt Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;">Insurance&#8212;1.5%
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.06pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">1,954,644
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:18.21pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">137,200
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Megaport
 Ltd.<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(a)</SUP> </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">IT
 Services&#8212;0.7% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:31.00pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">942,006
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:15.20pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">683,000
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Metcash,
 Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Food
 &amp; Staples Retailing&#8212;1.5% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.02pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">1,990,903
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:11.98pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">1,643,100
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Mirvac
 Group </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Equity
 Real Estate Investment Trusts (REITs)&#8212;1.9% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.45pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">2,489,274
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:16.58pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">376,500
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">National
 Australia Bank Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;">Banks&#8212;6.3%
 </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:27.86pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">8,131,085
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:16.62pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">331,400
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Northern
 Star Resources Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Metals
 &amp; Mining&#8212;1.4% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:28.80pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">1,821,251
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:17.13pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">287,500
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">OZ
 Minerals Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Metals
 &amp; Mining&#8212;3.0% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:25.31pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">3,839,633
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:11.25pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">1,279,900
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Pilbara
 Minerals Ltd.<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(a)</SUP> </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Metals
 &amp; Mining&#8212;2.0% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.98pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">2,523,618
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:21.56pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">51,700
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Pro
 Medicus Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Health
 Care Technology&#8212;1.4% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:27.17pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">1,810,992
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:22.19pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">72,180
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Rio
 Tinto PLC, London Listing </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Metals
 &amp; Mining&#8212;3.4% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.63pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">4,357,469
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:15.39pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">666,600
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Shopping
 Centres Australasia Property Group, REIT </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Equity
 Real Estate Investment Trusts (REITs)&#8212;1.1% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:29.90pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">1,391,177
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:11.90pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">1,907,500
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Telstra
 Corp. Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Diversified
 Telecommunication Services&#8212;4.1% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:28.09pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">5,213,215
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:19.33pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">84,080
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Wesfarmers
 Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Multiline
 Retail&#8212;2.1% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.43pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">2,754,924
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:17.55pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">305,199
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Woodside
 Energy Group, Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Oil,
 Gas &amp; Consumable Fuels&#8212;5.4% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.37pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">6,891,539
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:24.97pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">1,406
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Woodside
 Energy Group, Ltd.<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(a)</SUP> </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Oil,
 Gas &amp; Consumable Fuels&#8212;0.0% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:36.96pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">31,847
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:17.05pt;padding-right:9pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">226,740
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Woolworths
 Group Ltd. </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Food
 &amp; Staples Retailing&#8212;4.6% </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:1.38pt;padding-left:27.07pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">5,965,321
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:1pt solid #000000;line-height:8pt;padding-bottom:4pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:8.34%;">&#160; </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:1.38pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:78.90%;" colspan="2">Total
 Australia </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:16.99pt;padding-right:6pt;padding-top:1.38pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.22%;">125,708,765
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:9pt;padding-top:2.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:87.24%;" bgcolor="#E8F3FF" colspan="3">NEW
 ZEALAND&#8212;7.6% </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:12.22%;" bgcolor="#E8F3FF">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:15.66pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">554,840
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Auckland
 International Airport Ltd.<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(a)</SUP> </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Transportation
 Infrastructure&#8212;2.0% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:28.27pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">2,597,743
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:15.28pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">499,400
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Mercury
 NZ Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Electric
 Utilities&#8212;1.5% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:26.36pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">1,908,652
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:15.74pt;padding-right:9pt;padding-top:1.25pt;text-align:right; text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">682,500
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Spark
 New Zealand Ltd. </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.25pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt;text-align:left; text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Diversified
 Telecommunication Services&#8212;1.7% </TD>
<TD style="color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal;line-height:11pt;line-height:11pt; padding-bottom:1.25pt;padding-left:27.72pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;vertical-align:bottom;
white-space:nowrap;width:12.22%;">2,176,903
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:19.30pt;padding-right:9pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;" bgcolor="#E8F3FF">48,000
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;" bgcolor="#E8F3FF">Xero
 Ltd.<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(a)</SUP> </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:39.45%;" bgcolor="#E8F3FF">Software&#8212;2.4%
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:1.38pt;padding-left:29.74pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">3,162,177
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:1pt solid #000000;line-height:8pt;padding-bottom:4pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:8.34%;">&#160; </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:1.38pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:78.90%;" colspan="2">Total
 New Zealand </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:23.74pt;padding-right:6pt;padding-top:1.38pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.22%;">9,845,475
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:9pt;padding-top:2.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:87.24%;" bgcolor="#E8F3FF" colspan="3">UNITED
 STATES&#8212;1.9% </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:12.22%;" bgcolor="#E8F3FF">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:19.85pt;padding-right:9pt; padding-top:1.25pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">99,380
 </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">ResMed,
 Inc., GDR </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Health
 Care Equipment &amp; Supplies&#8212;1.9% </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:1.38pt;padding-left:28.20pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:12.22%;">2,398,115
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:1pt solid #000000;line-height:8pt;padding-bottom:4pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#160; </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:1.38pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:78.90%;" bgcolor="#E8F3FF" colspan="2">Total
 Common Stocks </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:17.62pt;padding-right:6pt;padding-top:1.38pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">137,952,355
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:6pt;padding-top:2.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:99.46%;" colspan="4">SHORT-TERM
 INVESTMENTS&#8212;0.1% </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:1.25pt;padding-left:6pt;padding-right:9pt;padding-top:1.25pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:bottom;width:87.24%;" bgcolor="#E8F3FF" colspan="3">UNITED
 STATES&#8212;0.1% </TD>
<TD style="line-height:8pt;padding-bottom:1.25pt;padding-right:6pt;padding-top:1.25pt;text-align:right;vertical-align:bottom;width:12.22%;" bgcolor="#E8F3FF">&#160; </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:21.88pt;padding-right:9pt;padding-top:1.25pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:8.34%;">97,395
 </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:1.25pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:78.90%;" colspan="2">State
 Street Institutional U.S. Government Money Market Fund, Premier Class, 1.88%<SUP style="font-size:85%;font-style:Normal;text-transform:none;">(b)</SUP> </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;color:#000000;font-family:Arial;font-family:Arial;font-size:8pt;font-size:8pt;font-style:Normal;font-style:Normal;font-weight:Normal;font-weight:Normal; line-height:11pt;line-height:11pt;padding-bottom:4pt;padding-left:37.31pt;padding-right:6pt;padding-top:1.25pt;text-align:right;text-decoration:none;text-decoration:none;text-transform:none;text-transform:none;
vertical-align:bottom;white-space:nowrap;width:12.22%;">97,395
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:1pt solid #000000;line-height:8pt;padding-bottom:4pt;padding-right:9pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#160; </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:2.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:78.90%;" bgcolor="#E8F3FF" colspan="2">Total
 Short-Term Investments </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:35.93pt;padding-right:6pt;padding-top:2.5pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">97,395
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:1pt solid #000000;line-height:0pt;padding-bottom:4pt;padding-right:9pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:8.34%;">&#160; </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:2.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:78.90%;" colspan="2">Total
 Investments&#8212;107.2% (cost $123,575,079) </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:15.51pt;padding-right:6pt;padding-top:2.5pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.22%;">138,049,750
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:0.5pt solid #000000;line-height:8pt;padding-bottom:1.38pt;padding-right:9pt;padding-top:2.5pt;text-align:right;vertical-align:bottom;width:8.34%;" bgcolor="#E8F3FF">&#160; </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:9pt;padding-right:9pt;padding-top:2.5pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:78.90%;" bgcolor="#E8F3FF" colspan="2">Liabilities
 in Excess of Other Assets&#8212;(7.2%) </TD>
<TD style="border-bottom:0.5pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:1.38pt;padding-left:26.28pt;padding-right:3pt; padding-top:2.5pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;white-space:nowrap;width:12.22%;" bgcolor="#E8F3FF">(9,272,352)
 </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="border-bottom:1pt solid #000000;line-height:8pt;padding-bottom:4pt;padding-right:9pt;padding-top:1.38pt;text-align:right;vertical-align:bottom;width:8.34%;">&#160; </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:9pt;padding-top:1.38pt; text-align:left;text-decoration:none;text-transform:none;vertical-align:bottom;width:39.45%;">Net
 Assets&#8212;100.0% </TD>
<TD style="border-bottom:1pt solid #000000;line-height:8pt;padding-bottom:4pt;padding-right:9pt;padding-top:1.38pt;text-align:left;vertical-align:bottom;width:39.45%;">&#160; </TD>
<TD style="border-bottom:1pt solid #000000;color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:4pt;padding-left:9pt;padding-right:6pt;padding-top:1.38pt; text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom;width:12.22%;">$
<FONT style="padding-left:4.37pt;"></FONT><FONT style="font-weight:bold;">128,777,398</FONT> </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:bold;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV> </DIV>
<DIV style="margin-top:42pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">See
accompanying Notes to Portfolio of Investments.</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:18pt;font-style:Normal;font-weight:bold;line-height:21pt;text-align:left;text-decoration:none;text-transform:none;">Portfolio of
Investments&nbsp;<FONT style="font-size:11pt;line-height:14pt;">(unaudited)&nbsp;&nbsp;(concluded)<BR> </FONT><FONT style="font-size:10pt;line-height:13pt;">As of July 31, 2022</FONT></DIV>
<DIV style="color:#000000;font-family:Arial;font-size:10pt;font-style:Normal;font-weight:bold;line-height:13pt;text-align:left;text-decoration:none;text-transform:none;">abrdn Australia Equity Fund, Inc. </DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:0.5pt solid #000000;height:0.5pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:16.5pt;width:100%;" type="Block">
<DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:10pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:1.90%;">(a)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:10pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:98.37%;">Non-income
producing security. </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:1.90%;">(b)
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:1.5pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:98.37%;">Registered
 investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2022. </TD></TR></TABLE> </DIV>
<DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;&nbsp;&nbsp;&nbsp;</DIV> <DIV style="text-align:left;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-top:0pt;width:100%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:6pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:2.97%;">GDR
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:6pt;text-align:left;text-decoration:none;text-transform:none;vertical-align:top; width:97.30%;">Global
Depositary Receipt </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;white-space:nowrap;width:2.97%;">PLC
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-left:1.5pt;padding-top:1.5pt;text-align:left;text-decoration:none;text-transform:none; vertical-align:top;width:97.30%;">Public
Limited Company </TD></TR>
<TR style="page-break-inside:avoid;">
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:0pt;padding-right:1.5pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;white-space:nowrap;width:2.97%;">REIT
 </TD>
<TD style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;padding-bottom:6pt;padding-left:1.5pt;padding-top:1.5pt;text-align:left;text-decoration:none; text-transform:none;vertical-align:top;width:97.30%;">Real
 Estate Investment Trust </TD></TR></TABLE> </DIV> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;text-align:left;text-decoration:none;text-transform:none;">&nbsp;</DIV> </DIV>
<DIV style="margin-top:578pt;width:100%;" type="Block"> <DIV style="color:#000000;font-family:Arial;font-size:8pt;font-style:Normal;font-weight:Normal;line-height:11pt;margin-top:9pt;text-align:left;text-decoration:none;text-transform:none;">See
accompanying Notes to Portfolio of Investments.</DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> <HR style="margin-bottom:0pt;">  <DIV style="width:100%;"> <DIV style="width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:18pt;font-style:Normal;font-weight:Normal;line-height:21pt;text-align:left;text-decoration:none;text-transform:none;">Notes to Portfolio of Investments<FONT
 style="font-size:11pt;line-height:14pt;">&nbsp;<BR> July 31, 2022 (unaudited)</FONT></DIV>
<HR noshade="noshade" style="background-color:#000000;border-bottom:0pt;border-left:0pt;border-right:0pt;border-top:0.5pt solid #000000;height:0.5pt;width:100%;" align="Left"> </DIV> <DIV style="margin-top:16.5pt;width:100%;" type="Block">
<DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">1.&nbsp;&nbsp;&nbsp;&nbsp;Summary of Significant Accounting
Policies</DIV> <DIV style="color:#000000;font-family:Arial;font-size:9pt;font-style:Normal;font-weight:bold;line-height:12pt;margin-top:6pt;text-align:left;text-decoration:none;text-transform:none;">a.&nbsp;&nbsp;&nbsp;&nbsp;Security
Valuation:</DIV> <DIV style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;margin-top:5pt;text-align:left;text-decoration:none;text-transform:none;">The Fund values its securities at current
market value or fair value, consistent with regulatory requirements. "Fair value" is defined in the Fund's Valuation and Liquidity Procedures as the price that could be received to sell an asset or paid to transfer a liability in an orderly
transaction between willing market participants without a compulsion to transact at the measurement date.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;margin-top:5pt;text-align:left;text-decoration:none;text-transform:none;">Equity securities that are traded on an exchange are valued
at the last quoted sale price on the principal exchange on which the security is traded at the &#8220;Valuation Time&#8221; subject to application, when appropriate, of the valuation factors described in the paragraph below. The Valuation Time is as
of the close of regular trading on the New York Stock Exchange ("NYSE") (usually 4:00 p.m. Eastern Time). In the absence of a sale price, the security is valued at the mean of the bid/ask price quoted at the close on the principal exchange on which
the security is traded. Securities traded on NASDAQ are valued at the NASDAQ official closing price.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;margin-top:5pt;text-align:left;text-decoration:none;text-transform:none;">Foreign equity securities that are traded on foreign
exchanges that close prior to Valuation Time are valued by applying valuation factors to the last sale price or the mean price as noted above. Valuation factors are provided by an independent pricing service provider approved by the Board. These
valuation factors are used when pricing the Fund's portfolio holdings to estimate market movements between the time foreign markets close and the time the Fund values such foreign securities.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;margin-top:5pt;text-align:left;text-decoration:none;text-transform:none;">Short-term investments are comprised of cash and cash
equivalents invested in short-term investment funds which are redeemable daily. The Fund sweeps available cash into the State Street Institutional U.S. Government Money Market Fund, which has elected to qualify as a &#8220;government money market
fund&#8221; pursuant to Rule 2a-7 under the 1940 Act, and has an objective, which is not guaranteed, to maintain a $1.00 per share NAV. Generally, these investment types are categorized as Level 1 investments.</DIV>
<DIV style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:Normal;font-weight:Normal;line-height:12.5pt;margin-top:5pt;text-align:left;text-decoration:none;text-transform:none;">In the event that a security&#8217;s market quotations are
not readily available or are deemed unreliable (for reasons other than because the foreign exchange on which it trades closes before the Valuation Time), the security is valued at fair value as determined by the Fund's Pricing Committee, taking into
account the relevant factors and surrounding circumstances using valuation policies and procedures approved by the Board. Under normal circumstances the Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually
4:00 p.m. Eastern Time). A security that has been fair valued by the Fund's Pricing Committee may be classified as Level 2 or Level 3 depending on the nature of the inputs.&nbsp;</DIV> </DIV> <DIV style="margin-top:359pt;width:100%;" type="Block">
<DIV style="text-align:right;">
<TABLE style="border-collapse:collapse;empty-cells:show;margin-left:auto;margin-top:0pt;width:4.71%;" cellpadding="0" cellspacing="0">
<TR style="page-break-inside:avoid;">
<TD style="line-height:7pt;padding-right:3pt;text-align:right;vertical-align:bottom;width:100%;">&#160; </TD>
<TD style="color:#000000;font-family:Arial;font-size:7pt;font-style:Normal;font-weight:bold;line-height:10pt;padding-left:3pt;text-align:right;text-decoration:none;text-transform:none;vertical-align:bottom; white-space:nowrap;width:76.92%;">3
</TD></TR></TABLE> </DIV> </DIV> </DIV> <DIV style="clear:both;font-size:12pt;height:0pt;"> </DIV> </BODY></HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
