Table of Contents

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-CSR

 

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-21864

 

 

WisdomTree Trust

(Exact name of registrant as specified in charter)

 

 

245 Park Avenue, 35th Floor

New York, NY 10167

(Address of principal executive offices) (Zip code)

 

 

The Corporation Trust Company

1209 Orange Street

Wilmington, DE 19801

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: (866) 909-9473

Date of fiscal year end: March 31

Date of reporting period: March 31, 2020

 

 

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 


Table of Contents
Item 1.

Reports to Stockholders.

The Reports to Shareholders are attached hereto.


Table of Contents

LOGO

 

LOGO

 

WisdomTree Trust

Annual Report

March 31, 2020

 

WisdomTree U.S. Dividend ex-Financials Fund (DTN)

WisdomTree U.S. ESG Fund (RESP)

(formerly, WisdomTree U.S. Total Market Fund (EXT))

WisdomTree U.S. High Dividend Fund (DHS)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

WisdomTree U.S. LargeCap Fund (EPS)

WisdomTree U.S. MidCap Dividend Fund (DON)

WisdomTree U.S. MidCap Fund (EZM)

WisdomTree U.S. Multifactor Fund (USMF)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

WisdomTree U.S. Quality Shareholder Yield Fund (QSY)

WisdomTree U.S. SmallCap Dividend Fund (DES)

WisdomTree U.S. SmallCap Fund (EES)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

WisdomTree U.S. Total Dividend Fund (DTD)

IMPORTANT NOTE: Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the WisdomTree Funds’ annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, annual and semi-annual shareholder reports will be available on the WisdomTree Funds’ website (www.wisdomtree.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a Fund electronically anytime by contacting your financial intermediary (such as a broker-dealer or bank).

You may elect to receive all future reports in paper free of charge. Please contact your financial intermediary to request to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account.


Table of Contents

Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       3  

Management’s Discussion of Funds’ Performance (unaudited)

       4  

Description of Terms and Indexes (unaudited)

       18  
Schedules of Investments     

WisdomTree U.S. Dividend ex-Financials Fund

       21  

WisdomTree U.S. ESG Fund

       23  

WisdomTree U.S. High Dividend Fund

       27  

WisdomTree U.S. LargeCap Dividend Fund

       32  

WisdomTree U.S. LargeCap Fund

       37  

WisdomTree U.S. MidCap Dividend Fund

       44  

WisdomTree U.S. MidCap Fund

       50  

WisdomTree U.S. Multifactor Fund

       57  

WisdomTree U.S. Quality Dividend Growth Fund

       61  

WisdomTree U.S. Quality Shareholder Yield Fund

       65  

WisdomTree U.S. SmallCap Dividend Fund

       68  

WisdomTree U.S. SmallCap Fund

       77  

WisdomTree U.S. SmallCap Quality Dividend Growth Fund

       87  

WisdomTree U.S. Total Dividend Fund

       91  

Statements of Assets and Liabilities

       100  

Statements of Operations

       103  

Statements of Changes in Net Assets

       106  

Financial Highlights

       111  

Notes to Financial Statements

       118  

Report of Independent Registered Public Accounting Firm

       131  

Trustees and Officers Information (unaudited)

       133  

Supplemental Information (unaudited)

       135  

General Information (unaudited)

       136  

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


Table of Contents

Market Environment Overview

(unaudited)

 

The U.S. equity market, as measured by the S&P 500® Index, returned -6.98% for the 12-month fiscal period that ended March 31, 2020 (the “period”).

The second quarter of 2019 began with the continuation of a relief rally in U.S. stocks through April 2019, followed by a selloff in May 2019, and a subsequent recovery in June 2019. The release of stronger than anticipated first quarter gross domestic product (“GDP”) growth as well as the continuation of solid job and wage gains alongside record low unemployment levels helped drive equities higher in April 2019. In early May 2019, U.S.-China trade negotiations broke down — as the U.S. increased tariffs to 25% from 10% on $200 billion in Chinese goods, and China responded in-kind by raising tariffs on U.S. imports. Leading up to the U.S. Federal Reserve (the “Fed”) June 2019 meeting, core inflation remained below the Fed’s 2% target and the May 2019 jobs report came in meaningfully below expectations. In June 2019, the Fed’s outlook for the U.S. economy was markedly uncertain. The Fed left its target monetary policy rate unchanged and indicated that future rate action would be taken if needed to sustain the U.S. economic expansion. Expectations for future Fed rate cuts along with resumption of U.S.-China trade negotiations at the then-upcoming G-20 forum led U.S. equities higher through the end of June 2019 to return +4.30% in the second quarter of 2019, as measured by the S&P 500® Index.

U.S. equities continued a more modest, but still positive trajectory in the third quarter of 2019 and returned +1.70%, as measured by the S&P 500® Index. The “advance” estimate release of second quarter GDP showed that U.S. economic growth slowed to 2.1% from 3.1% in the first quarter of 2019. Strong consumer spending provided a tailwind for U.S. GDP, while a decline in investment and inventories as well as an increase in the trade deficit depressed economic growth. At the end of July 2019, the Fed cut the benchmark rate by 0.25% for the first time since 2008. Despite easing monetary policy, the U.S. equity market was disappointed that the Fed did not commit to future stimulus measures. A slower pace of job growth, indications of moderating economic activity in the service sector, and the first decline in manufacturing activity since 2009 were negative overhangs on market sentiment. Ultimately, these negative overhangs were more than offset by the positive reaction to further easing in monetary policy in September 2019 when the Fed cut the benchmark rate by an additional 0.25%.

U.S. equities rallied +9.07% in the fourth quarter of 2019, as measured by the S&P 500® Index. Trade uncertainty between U.S. and China continued to weigh on economic activity and labor market growth continued to trend lower. Falling core producer prices, declining retail sales, and a mild report of 1.9% GDP growth for the third quarter of 2019, according to the “advance” estimate, showed slowing consumer spending. The Fed again took action to ease monetary policy by lowering the benchmark rate by an additional 0.25%, although it signaled a pause in future actions. In mid-December 2019, President Trump announced a limited trade agreement with China, including the cancellation of new tariffs and a reduction in existing tariffs. The preliminary trade pact was the major catalyst driving positive U.S. equity performance in the fourth quarter of 2019.

Previous gains in U.S. equities over the preceding nine months were rapidly offset during the first quarter of 2020 as the world grappled with the fallout from the spread of the novel coronavirus (“COVID-19”) outbreak. Sentiment was relatively positive early in the first quarter of 2020 as the U.S.-China trade resolution progressed, consumer spending growth remained moderate, the trade deficit contracted, and the Fed left its benchmark interest rate unchanged.

At the end of January 2020, China announced the lock down of select cities due to COVID-19. Over the next month, the global rate of infection accelerated as the virus spread around the world. Large international corporations announced disruptions to operations and forecasted meaningful reductions in financial expectations.

 

WisdomTree Trust      1  


Table of Contents

Market Environment Overview

(unaudited) (concluded)

 

On February 19, 2020, the first case of COVID-19 in the U.S. was reported, marking the peak level for U.S. equities. By February 27, 2020, U.S. equities entered correction territory, marking a 10% decline from their peak. Meanwhile, the Cboe Volatility Index, a benchmark index that measures the market’s expectation of future volatility, rose to the highest level since 2011. On March 3, 2020, the Fed took emergency action to stem the negative economic impact from COVID-19 and cut the benchmark rate by 0.50%. Amidst virus related market volatility, Saudi Arabia and Russia engaged in an oil price war. Following a failed agreement on production cuts, Saudi Arabia sought to increase market share, which drove the largest daily decline in Energy stocks within the S&P 500® Index on record.

On March 15, 2020, the Fed again took unprecedented emergency actions, including a cut to the benchmark rate by 1.00% to a range of 0% to 0.25%. The Fed also instituted quantitative easing measures with the purchase of $700 billion in U.S. government debt, along with other tools to provide stimulus, liquidity, and to promote lending. As the virus continued to spread, local governments began to institute lock downs grinding economic activity to a halt. In the final week of March 2020, U.S. equities rebounded modestly as the Fed announced new lending facilities to support credit markets and as U.S. Congress passed a $2 trillion fiscal stimulus package. Overall, U.S. equities declined -19.60% in the first quarter of 2020, as measured by the S&P 500® Index.

Over the period, the decrease in short-term U.S. interest rates exceeded the decrease in long-term rates, resulting in a steepening of the U.S. Treasury yield curve. The Fed funds rate decreased 2.25% to a range of 0% to 0.25%, while the 2-Year U.S. Treasury Note yield decreased 2.04% to 0.23% and the U.S. 10-Year Treasury Note yield fell 1.71% to 0.70%. The closely monitored spread between the 2- and 10-year U.S. Treasury Note yields increased from 0.14% at the beginning of the period to 0.47% at the end of the period. The decrease in rates over the period was driven by easing monetary policy by the Fed. Short-term rates fell more than long-term rates over the period reflecting the negative near-term impact on the U.S. economy from COVID-19.

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

 

2   WisdomTree Trust


Table of Contents

Information about Performance and Shareholder Expense Examples (unaudited)

Performance

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

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

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.

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

Shareholder Expense Examples

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

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2019 to March 31, 2020. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 183/366 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

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

Hypothetical example for comparison purposes

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

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

 

WisdomTree Trust      3  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. Dividend ex-Financials Fund (DTN)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Staples

    14.2%  

Utilities

    12.5%  

Health Care

    11.7%  

Real Estate

    11.6%  

Information Technology

    10.3%  

Energy

    8.9%  

Materials

    8.4%  

Industrials

    7.8%  

Communication Services

    7.4%  

Consumer Discretionary

    6.6%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Altria Group, Inc.

    2.1%  

Philip Morris International, Inc.

    1.9%  

CenturyLink, Inc.

    1.9%  

AbbVie, Inc.

    1.8%  

Medical Properties Trust, Inc.

    1.7%  

Gilead Sciences, Inc.

    1.7%  

Williams Cos., Inc. (The)

    1.6%  

AT&T, Inc.

    1.6%  

Kraft Heinz Co. (The)

    1.6%  

International Business Machines Corp.

    1.6%  
*

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

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

The Fund returned -21.49% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund benefited the most from its position in the Information Technology sector, while its position in the Energy sector weighed on performance the most. From a dividend yield perspective, the Fund’s position in higher dividend yield companies detracted the most from Fund performance while the Fund’s position in lower dividend yield companies was a positive contributor. During the fiscal year, value-oriented investing with a dividend emphasis, such as the Fund, significantly lagged those which focused on growth, as dividend-paying companies underperformed the broader market.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 753.90        0.38   $ 1.67  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

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

Fund NAV Returns

       -21.49      -4.49      0.32      7.93

Fund Market Price Returns

       -21.61      -4.54      0.28      7.91

WisdomTree U.S. Dividend ex-Financials Index

       -21.27      -4.16      0.70      8.34

Dow Jones U.S. Select Dividend IndexSM

       -21.70      -3.14      2.73      8.91

Russell 1000® Value Index

       -17.17      -2.18      1.90      7.67

 

LOGO

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

 

4   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. ESG Fund (RESP)

(formerly, WisdomTree U.S. Total Market Fund (EXT))

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    26.4%  

Health Care

    15.0%  

Financials

    12.2%  

Communication Services

    11.2%  

Consumer Discretionary

    10.4%  

Industrials

    8.9%  

Consumer Staples

    7.1%  

Utilities

    3.3%  

Real Estate

    2.9%  

Materials

    2.5%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Microsoft Corp.

    4.5%  

Apple, Inc.

    4.0%  

Alphabet, Inc., Class A

    3.7%  

Amazon.com, Inc.

    2.9%  

Facebook, Inc., Class A

    2.3%  

JPMorgan Chase & Co.

    1.5%  

Visa, Inc., Class A

    1.5%  

Johnson & Johnson

    1.1%  

MasterCard, Inc., Class A

    1.1%  

Intel Corp.

    1.1%  
*

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

The WisdomTree U.S. ESG Fund (the “Fund”) seeks capital appreciation. The Fund is actively managed using a model-based approach. The Fund seeks to achieve its investment objective by investing primarily in U.S. equity securities that exhibit certain characteristics believed to be indicative of positive future returns as well as incorporating favorable environmental, social, and governance (“ESG”) characteristics based on a model developed by WisdomTree Asset Management. The Fund’s investment objective and strategies changed effective March 16, 2020. Prior to March 16, 2020, Fund performance reflects the investment objective of the Fund when it was the WisdomTree U.S. Total Market Fund and tracked the performance, before fees and expenses, of the WisdomTree U.S. Total Market Index (the “Former Index”). In seeking to track the Former Index, the Fund invested in U.S. all-cap equities from a broad range of earnings-generating companies. The Fund generally used a representative sampling strategy to achieve its investment objective, meaning it generally invested in a sample of securities in the Former Index.

The Fund returned -12.73% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). As noted above, the Fund changed its strategies and objectives on March 16, 2020. As a result, most of the fiscal year’s performance represents its time as the WisdomTree U.S. Total Market Fund. The Fund’s position in the Health Care sector contributed least negatively to performance while its position in the Financials sector weighed on performance the most. From a price-to-earnings (“P/E”) quintiles perspective, the lowest P/E quintile was the most negative contributor, while companies with negative earnings (and, therefore, no discernible P/E ratio) managed to positively contribute to performance. In addition, during this timeframe, value-oriented investment strategies, such as those utilized by the Fund (and its predecessor), significantly underperformed growth-focused ones.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 823.60        0.28   $ 1.28  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

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

Fund NAV Returns*

       -12.73      1.69      4.41      9.27

Fund Market Price Returns*

       -12.92      1.64      4.35      9.24

WisdomTree U.S. Total Market Index*

       -12.74      1.89      4.70      9.59

Russell 3000/MSCI USA Extended ESG Focus Spliced Index**

       -8.71      4.16      5.86      10.20

S&P 500® Index

       -6.98      5.10      6.73      10.53
*

The Fund’s name, objective and strategies changed effective March 16, 2020. Prior to March 16, 2020, Fund performance reflects the investment objective of the Fund when it was the WisdomTree U.S. Total Market Fund and tracked the performance, before fees and expenses, of the WisdomTree U.S. Total Market Index.

**

Russell 3000 Index through March 15, 2020; MSCI USA Extended ESG Focus Index thereafter.

 

LOGO

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

 

WisdomTree Trust      5  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. High Dividend Fund (DHS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    16.8%  

Information Technology

    13.7%  

Consumer Staples

    12.6%  

Utilities

    12.5%  

Communication Services

    11.9%  

Real Estate

    10.9%  

Financials

    8.3%  

Energy

    8.1%  

Industrials

    2.1%  

Consumer Discretionary

    1.7%  

Materials

    0.7%  

Investment Company

    0.5%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Verizon Communications, Inc.

    5.9%  

Pfizer, Inc.

    5.6%  

AT&T, Inc.

    5.1%  

AbbVie, Inc.

    5.0%  

International Business Machines Corp.

    3.9%  

Philip Morris International, Inc.

    3.5%  

Coca-Cola Co. (The)

    3.1%  

Chevron Corp.

    3.1%  

Bristol-Myers Squibb Co.

    3.1%  

Gilead Sciences, Inc.

    3.0%  
*

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

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

The Fund returned -18.99% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s performance benefited from its position in the Communication Services sector, while its position in the Real Estate sector was a detractor. From a dividend yield perspective, the Fund’s position in higher dividend yield companies detracted the most from Fund performance, while the Fund’s position in lower dividend yield companies contributed positively to performance. Accordingly, dividend-paying companies and dividend-focused funds, such as the Fund, struggled over the fiscal year. Value-oriented investing as an investment style significantly underperformed growth-oriented investing during this market environment, and the Fund was not immune to the selling pressure.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 773.70        0.38   $ 1.69  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

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

Fund NAV Returns

       -18.99      -2.87      2.06      8.65

Fund Market Price Returns

       -19.08      -2.91      2.03      8.64

WisdomTree U.S. High Dividend Index

       -18.78      -2.56      2.43      9.05

Russell 1000® Value Index

       -17.17      -2.18      1.90      7.67

 

LOGO

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

 

6   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    19.0%  

Health Care

    15.1%  

Consumer Staples

    13.7%  

Financials

    12.5%  

Industrials

    7.7%  

Communication Services

    7.5%  

Utilities

    6.2%  

Energy

    6.0%  

Consumer Discretionary

    5.5%  

Real Estate

    4.6%  

Materials

    1.7%  

Investment Company

    0.3%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Microsoft Corp.

    4.4%  

Apple, Inc.

    3.5%  

AT&T, Inc.

    3.1%  

Johnson & Johnson

    2.6%  

Verizon Communications, Inc.

    2.5%  

Exxon Mobil Corp.

    2.2%  

JPMorgan Chase & Co.

    2.0%  

Pfizer, Inc.

    1.9%  

Procter & Gamble Co. (The)

    1.8%  

Philip Morris International, Inc.

    1.7%  
*

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

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

The Fund returned -11.62% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in the Information Technology sector contributed positively to performance while its position in the Industrials sector was the most negative contributor. From a dividend yield perspective, the Fund’s position in higher dividend yield companies was the most positive contributor to Fund performance while those companies with zero dividend yield weighed on performance. The Fund benefited from its emphasis on larger companies during the fiscal year, and especially during the first quarter of 2020, where larger companies outperformed smaller ones.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 829.00        0.28   $ 1.28  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

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

Fund NAV Returns

       -11.62      1.91      4.84      9.61

Fund Market Price Returns

       -11.69      1.89      4.80      9.59

WisdomTree U.S. LargeCap Dividend Index

       -11.34      2.21      5.15      9.92

S&P 500® Index

       -6.98      5.10      6.73      10.53

Russell 1000® Value Index

       -17.17      -2.18      1.90      7.67

 

LOGO

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

 

WisdomTree Trust      7  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. LargeCap Fund (EPS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    22.5%  

Financials

    16.2%  

Health Care

    13.8%  

Communication Services

    11.2%  

Consumer Staples

    9.3%  

Industrials

    9.0%  

Consumer Discretionary

    7.5%  

Utilities

    3.3%  

Energy

    3.2%  

Materials

    2.0%  

Real Estate

    1.8%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    4.9%  

Microsoft Corp.

    4.2%  

Alphabet, Inc., Class A

    2.9%  

JPMorgan Chase & Co.

    2.3%  

Verizon Communications, Inc.

    1.8%  

Intel Corp.

    1.8%  

Facebook, Inc., Class A

    1.7%  

Bank of America Corp.

    1.7%  

Johnson & Johnson

    1.7%  

Walmart, Inc.

    1.6%  
*

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

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

The Fund returned -9.65% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund benefited most from its position in the Information Technology sector, while its position in the Financials sector was a primary detractor to performance. From a price-to-earnings (“P/E”) quintiles perspective, the lowest P/E quintile was the most negative contributor, while companies with negative earnings (and, therefore, no discernible P/E ratio) managed to positively contribute to performance. During this timeframe, value-oriented investment strategies, such as those utilized by the Fund, significantly underperformed growth-focused ones, as richly valued companies and those with poor earnings outperformed those with healthier fundamental metrics.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 847.70        0.08   $ 0.37  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,024.60        0.08   $ 0.40  

Performance

 

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

Fund NAV Returns

       -9.65      3.12      5.42      9.67

Fund Market Price Returns

       -9.80      3.06      5.37      9.65

WisdomTree U.S. LargeCap Index

       -9.54      3.36      5.68      9.95

S&P 500® Index

       -6.98      5.10      6.73      10.53

S&P 500® Value Index

       -14.47      -2.49      0.80      5.48

 

LOGO

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

 

8   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. MidCap Dividend Fund (DON)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    21.4%  

Real Estate

    14.5%  

Consumer Discretionary

    12.3%  

Industrials

    11.9%  

Utilities

    11.8%  

Materials

    8.3%  

Information Technology

    7.7%  

Consumer Staples

    5.5%  

Energy

    3.1%  

Communication Services

    1.5%  

Health Care

    1.4%  

Investment Company

    0.4%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Campbell Soup Co.

    1.2%  

J.M. Smucker Co. (The)

    1.2%  

Franklin Resources, Inc.

    1.0%  

Molson Coors Beverage Co., Class B

    1.0%  

Alliant Energy Corp.

    0.9%  

CenterPoint Energy, Inc.

    0.9%  

WestRock Co.

    0.9%  

Pinnacle West Capital Corp.

    0.8%  

NetApp, Inc.

    0.8%  

CNA Financial Corp.

    0.8%  
*

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

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

The Fund returned -30.28% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in the Information Technology sector contributed positively to performance while its position in the Consumer Discretionary sector contributed most negatively to performance. From a dividend yield perspective, the Fund’s position in higher dividend yield companies detracted the most from Fund performance, while the Fund’s position in lower dividend yield companies contributed positively to performance. The Fund’s focus on dividend-paying companies negatively affected Fund performance as these companies lagged the broader market over the fiscal year. Investment strategies having an emphasis on mid-cap companies, such as the Fund, struggled during the fiscal year and especially during the first quarter of 2020.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 677.40        0.38   $ 1.59  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

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

Fund NAV Returns

       -30.28      -7.09      -0.77      7.53

Fund Market Price Returns

       -30.45      -7.16      -0.83      7.49

WisdomTree U.S. MidCap Dividend Index

       -30.21      -6.85      -0.44      7.89

S&P MidCap 400® Index

       -22.51      -4.09      0.56      7.88

Russell MidCap Index

       -18.31      -0.81      1.85      8.77

Russell MidCap Value Index

       -24.13      -5.97      -0.76      7.22

 

LOGO

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

 

WisdomTree Trust      9  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. MidCap Fund (EZM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    24.0%  

Industrials

    19.0%  

Consumer Discretionary

    16.1%  

Information Technology

    9.4%  

Materials

    7.1%  

Health Care

    6.2%  

Real Estate

    4.8%  

Utilities

    3.6%  

Consumer Staples

    3.2%  

Communication Services

    3.2%  

Energy

    3.1%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Brighthouse Financial, Inc.

    1.1%  

Molina Healthcare, Inc.

    1.0%  

Cabot Oil & Gas Corp.

    0.9%  

GrafTech International Ltd.

    0.7%  

Lear Corp.

    0.7%  

Santander Consumer USA Holdings, Inc.

    0.7%  

Steel Dynamics, Inc.

    0.6%  

Unum Group

    0.6%  

Albemarle Corp.

    0.6%  

Arrow Electronics, Inc.

    0.6%  
*

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

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

The Fund returned -31.45% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in the Consumer Staples sector contributed least negatively to performance while its position in the Financials sector most negatively impacted performance. From a price-to-earnings (“P/E”) quintiles perspective, the lowest P/E quintile was the most negative contributor, while companies with negative earnings (and, therefore, no discernible P/E ratio) were the least negative contributors. Investment strategies having an emphasis on mid-cap companies, such as the Fund, struggled during the fiscal year and especially during the first quarter of 2020. In addition, during the first quarter of 2020, value-oriented investment strategies, such as those utilized by the Fund, significantly underperformed growth-focused ones.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 677.40        0.38   $ 1.59  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

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

Fund NAV Returns

       -31.45      -7.80      -2.40      6.81

Fund Market Price Returns

       -31.71      -7.96      -2.50      6.76

WisdomTree U.S. MidCap Index

       -31.24      -7.49      -2.09      7.12

S&P MidCap 400® Index

       -22.51      -4.09      0.56      7.88

Russell MidCap Index

       -18.31      -0.81      1.85      8.77

Russell MidCap Value Index

       -24.13      -5.97      -0.76      7.22

 

LOGO

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

 

10   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. Multifactor Fund (USMF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    25.9%  

Health Care

    14.8%  

Communication Services

    11.2%  

Financials

    10.8%  

Consumer Discretionary

    9.0%  

Industrials

    8.8%  

Consumer Staples

    7.0%  

Energy

    3.9%  

Utilities

    3.2%  

Real Estate

    2.6%  

Materials

    2.6%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Citrix Systems, Inc.

    1.5%  

Verizon Communications, Inc.

    1.1%  

Oracle Corp.

    1.1%  

Cable One, Inc.

    1.1%  

Jack Henry & Associates, Inc.

    1.1%  

Charter Communications, Inc., Class A

    1.1%  

Cabot Oil & Gas Corp.

    1.1%  

Booz Allen Hamilton Holding Corp.

    1.1%  

Akamai Technologies, Inc.

    1.0%  

Microsoft Corp.

    1.0%  
*

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

The WisdomTree U.S. Multifactor Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Multifactor Index (the “Index”). In seeking to track the Index, the Fund invests in U.S. companies with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -13.43% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in the Health Care sector was the most positive contributor to performance over the fiscal year, while its position in the Information Technology sector was the primary detractor from performance. From a market capitalization perspective, the Fund’s underperformance during the fiscal year was attributable mostly to its underweight position to large-cap companies coupled with its overweight position to mid-cap companies.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 820.00        0.28   $ 1.27  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

   
        Average Annual Total Return  
        1 Year      Since Inception1  

Fund NAV Returns

       -13.43      1.36

Fund Market Price Returns

       -13.64      1.24

WisdomTree U.S. Multifactor Index

       -13.39      1.42

S&P 500® Index

       -6.98      4.47

S&P 500® Equal Weight Index

       -17.56      -1.26
1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on June 29, 2017.

 

LOGO

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

 

WisdomTree Trust      11  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    22.3%  

Industrials

    18.0%  

Health Care

    16.9%  

Consumer Staples

    15.8%  

Communication Services

    8.4%  

Consumer Discretionary

    7.3%  

Financials

    5.3%  

Materials

    2.7%  

Utilities

    1.7%  

Energy

    1.2%  

Real Estate

    0.1%  

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Verizon Communications, Inc.

    5.9%  

Microsoft Corp.

    5.1%  

Apple, Inc.

    4.6%  

Procter & Gamble Co. (The)

    4.3%  

Merck & Co., Inc.

    3.5%  

Altria Group, Inc.

    3.2%  

PepsiCo, Inc.

    3.1%  

Intel Corp.

    2.5%  

Bristol-Myers Squibb Co.

    2.4%  

Gilead Sciences, Inc.

    2.4%  
*

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

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

The Fund returned -7.52% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund benefited the most from its position in the Health Care sector, while its position in the Consumer Discretionary sector was the most negative contributor to performance. From a return-on-equity (“ROE”) quintiles perspective, the highest ROE quintile was a negative contributor while the lowest ROE quintile was the most positive contributor. The market volatility during the first quarter of 2020 saw high quality companies (in terms of ROE and other profitability metrics) underperform lower quality companies, which resulted in the Fund struggling due to its emphasis on the quality factor as part of its investment strategy.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 871.40        0.28   $ 1.31  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

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

Fund NAV Returns

       -7.52      5.42      6.80      9.01

Fund Market Price Returns

       -7.61      5.40      6.76      9.00

WisdomTree U.S. Quality Dividend Growth Index

       -7.29      5.73      7.11      9.32

NASDAQ U.S. Dividend AchieversTM Select Index

       -3.98      6.84      7.31      8.42

S&P 500® Index

       -6.98      5.10      6.73      8.92
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on May 22, 2013.

 

LOGO

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

 

12   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. Quality Shareholder Yield Fund (QSY)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    19.6%  

Financials

    16.4%  

Industrials

    16.1%  

Consumer Discretionary

    15.2%  

Health Care

    11.2%  

Materials

    8.4%  

Communication Services

    4.5%  

Utilities

    3.6%  

Energy

    3.1%  

Consumer Staples

    1.1%  

Real Estate

    0.6%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

DaVita, Inc.

    1.8%  

Evergy, Inc.

    1.5%  

Oracle Corp.

    1.5%  

Cisco Systems, Inc.

    1.5%  

eBay, Inc.

    1.4%  

Altice USA, Inc., Class A

    1.4%  

Waters Corp.

    1.3%  

Starbucks Corp.

    1.3%  

Fiserv, Inc.

    1.2%  

NRG Energy, Inc.

    1.2%  
*

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

The WisdomTree U.S. Quality Shareholder Yield Fund (the “Fund”) is actively managed using a model-based approach seeking income and capital appreciation by investing primarily in U.S. equity securities that provide a high total shareholder yield with favorable relative quality characteristics.

The Fund returned -21.86% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund benefited the most from its position in the Information Technology sector, while its position in the Energy sector weighed on performance the most. Many companies that generated returns for their shareholders via share buybacks and dividend payments suspended or cut them during the fiscal year, which directly affected the Fund’s performance negatively. Likewise, lower quality companies (in terms of return-on-equity and other profitability metrics) underperformed higher quality ones during the fiscal year, which was also a headwind for the Fund due to its emphasis on the quality factor as part of its investment strategy.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 751.30        0.38   $ 1.66  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

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

Fund NAV Returns

       -21.86      -0.89      1.21      7.48

Fund Market Price Returns

       -21.89      -0.92      1.18      7.48

Russell 1000® Value Index

       -17.17      -2.18      1.90      7.67

 

LOGO

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

 

WisdomTree Trust      13  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. SmallCap Dividend Fund (DES)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    27.4%  

Industrials

    15.2%  

Real Estate

    14.9%  

Consumer Discretionary

    8.8%  

Materials

    8.3%  

Utilities

    5.9%  

Consumer Staples

    5.8%  

Communication Services

    4.0%  

Information Technology

    3.8%  

Energy

    3.7%  

Health Care

    1.7%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Cogent Communications Holdings, Inc.

    1.3%  

Equitrans Midstream Corp.

    1.2%  

B&G Foods, Inc.

    1.1%  

Vector Group Ltd.

    0.9%  

Antero Midstream Corp.

    0.8%  

Virtu Financial, Inc., Class A

    0.8%  

Taubman Centers, Inc.

    0.8%  

Avista Corp.

    0.8%  

South Jersey Industries, Inc.

    0.7%  

Olin Corp.

    0.7%  
*

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

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

The Fund returned -32.22% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s performance benefited the most from its position in the Financials sector, while its position in the Information Technology sector contributed most negatively to performance. From a dividend yield perspective, the Fund’s position in higher dividend yield companies contributed the most negatively to Fund performance, while the Fund’s position in lower dividend yield companies contributed the least negatively to performance. Dividend-paying companies and dividend-focused investment strategies, such as those utilized by the Fund, struggled over the fiscal year. Smaller-sized companies faced increased selling pressure particularly during the first quarter of 2020, as equity investors fled to the presumed safety of larger companies amid market volatility and near-term uncertainty.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 670.30        0.38   $ 1.59  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

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

Fund NAV Returns

       -32.22      -9.75      -2.62      5.79

Fund Market Price Returns

       -32.63      -9.90      -2.74      5.71

WisdomTree U.S. SmallCap Dividend Index

       -31.99      -9.47      -2.35      5.97

Russell 2000® Index

       -23.99      -4.64      -0.25      6.90

Russell 2000® Value Index

       -29.64      -9.51      -2.42      4.79

 

LOGO

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

 

14   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. SmallCap Fund (EES)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    27.6%  

Industrials

    19.4%  

Consumer Discretionary

    14.7%  

Materials

    7.4%  

Health Care

    6.4%  

Information Technology

    6.3%  

Energy

    5.3%  

Consumer Staples

    4.1%  

Real Estate

    3.9%  

Communication Services

    3.6%  

Utilities

    1.1%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

AMC Networks, Inc., Class A

    1.0%  

Cleveland-Cliffs, Inc.

    0.9%  

Levi Strauss & Co., Class A

    0.9%  

Warrior Met Coal, Inc.

    0.9%  

Change Healthcare, Inc.

    0.8%  

O-I Glass, Inc.

    0.7%  

Schneider National, Inc., Class B

    0.7%  

Range Resources Corp.

    0.6%  

Innoviva, Inc.

    0.6%  

CNX Resources Corp.

    0.6%  
*

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

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

The Fund returned -36.87% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in the Financials sector contributed most positively to performance while its position in the Energy sector significantly weighed on performance the most. From a price-to-earnings (“P/E”) quintiles perspective, the lowest P/E quintile was the most negative contributor, while the third quintile managed to be a positive contributor. Smaller-sized companies faced increased selling pressure, particularly during the first quarter of 2020, as equity investors fled to the presumed safety of larger companies amid market volatility and near-term uncertainty. In addition, during the first quarter of 2020, value-oriented investment strategies, such as those utilized by the Fund, significantly underperformed growth-focused ones. Further, the Fund faced an additional headwind due to its overweight position in the Energy sector, which suffered from plummeting oil prices after a collapse in global demand and conflict among members of the Organization of the Petroleum Exporting Countries.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 634.10        0.38   $ 1.55  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

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

Fund NAV Returns

       -36.87      -10.09      -3.17      5.64

Fund Market Price Returns

       -37.17      -10.25      -3.28      5.58

WisdomTree U.S. SmallCap Index

       -36.79      -9.91      -3.00      5.84

Russell 2000® Index

       -23.99      -4.64      -0.25      6.90

Russell 2000® Value Index

       -29.64      -9.51      -2.42      4.79

 

LOGO

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

 

WisdomTree Trust      15  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    24.4%  

Financials

    20.7%  

Materials

    14.6%  

Consumer Discretionary

    13.8%  

Utilities

    7.5%  

Information Technology

    5.9%  

Consumer Staples

    3.6%  

Real Estate

    3.2%  

Communication Services

    3.0%  

Health Care

    2.9%  

Energy

    0.2%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Virtu Financial, Inc., Class A

    3.2%  

CoreCivic, Inc.

    2.4%  

Moelis & Co., Class A

    2.0%  

Olin Corp.

    1.9%  

Chemours Co. (The)

    1.8%  

Navient Corp.

    1.7%  

Patterson Cos., Inc.

    1.6%  

El Paso Electric Co.

    1.4%  

Houlihan Lokey, Inc.

    1.3%  

Home BancShares, Inc.

    1.2%  
*

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

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

The Fund returned -26.22% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund was least negatively impacted by its position in the Utilities sector. The Fund’s position in the Consumer Discretionary sector contributed most negatively to performance. From a return-on-equity (“ROE”) quintiles perspective, the highest ROE quintiles positively impacted performance, while the lower ROE quintiles and companies with negative ROE weighed on performance. The Fund’s emphasis on small market capitalization companies was a major headwind over the fiscal year, and especially during the first quarter of 2020, as equity investors fled to the presumed safety of larger companies amid market volatility and near-term uncertainty.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 711.40        0.38   $ 1.63  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

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

Fund NAV Returns

       -26.22      -6.72      -1.40      2.22

Fund Market Price Returns

       -26.57      -6.90      -1.52      2.12

WisdomTree U.S. SmallCap Quality Dividend Growth Index

       -26.10      -6.50      -1.19      2.45

Russell 2000® Index

       -23.99      -4.64      -0.25      2.77
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on July 25, 2013.

 

LOGO

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

 

16   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree U.S. Total Dividend Fund (DTD)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    17.3%  

Financials

    13.7%  

Health Care

    13.3%  

Consumer Staples

    12.6%  

Industrials

    8.0%  

Real Estate

    7.5%  

Communication Services

    6.8%  

Utilities

    6.6%  

Consumer Discretionary

    6.1%  

Energy

    5.5%  

Materials

    2.4%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Microsoft Corp.

    3.9%  

Apple, Inc.

    3.1%  

AT&T, Inc.

    2.7%  

Johnson & Johnson

    2.2%  

Verizon Communications, Inc.

    2.2%  

Exxon Mobil Corp.

    1.9%  

JPMorgan Chase & Co.

    1.8%  

Pfizer, Inc.

    1.6%  

Procter & Gamble Co. (The)

    1.6%  

Philip Morris International, Inc.

    1.5%  
*

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

The WisdomTree U.S. Total Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in U.S. all-cap equities from a broad range of dividend-paying companies. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -14.75% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in the Information Technology sector contributed most positively to performance while its position in the Real Estate sector contributed most negatively to performance. From a dividend yield perspective, the Fund’s position in higher dividend yield companies was the most negative contributor to Fund performance, while the Fund’s position in lower dividend yield companies contributed positively to performance. Since the Fund’s investment strategy focuses on high dividend yielding companies, it lagged the broader market over the fiscal year, as companies that pay larger dividends relative to their share price underperformed those that did not. In addition, many value-oriented funds (including those with a dividend emphasis such as the Fund) underperformed those that focused on growth.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 802.90        0.28   $ 1.26  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

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

Fund NAV Returns

       -14.75      0.38      3.91      9.22

Fund Market Price Returns

       -14.90      0.35      3.84      9.20

WisdomTree U.S. Dividend Index

       -14.41      0.68      4.23      9.61

Russell 3000® Index

       -9.13      4.00      5.77      10.15

Russell 3000® Value Index

       -18.02      -2.67      1.62      7.47

 

LOGO

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

 

WisdomTree Trust      17  


Table of Contents

Description of Terms and Indexes (unaudited)

 

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

Correlation is a statistical measure of how two sets of returns move in relation to each other. Correlation coefficients range from -1 to 1. A correlation of 1 means the two subjects of analysis move in lockstep with each other. A correlation of -1 means the two subjects of analysis have moved in exactly the opposite direction.

The Dow Jones U.S. Select Dividend IndexSM is comprised of 100 U.S. dividend-paying companies.

Factors generally are attributes that are based on its fundamentals or share price behavior.

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a country’s economic health.

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

Momentum is generally characterized by assets with recent price increase trends over time. This term is also associated with the momentum factor which associates these stock characteristics with excess return vs. the market over time.

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

The NASDAQ U.S. Dividend AchieversTM Select Index is a capitalization-weighted index that measures the performance of U.S. common stocks that have a history of increasing dividends for at least ten consecutive years.

Price-to-Earnings refers to a company’s share price divided by its earnings per share. Lower numbers indicate an ability to access greater amounts of earnings per dollar invested. A higher number indicates that a company’s stock is over-valued.

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

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

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

The Russell 1000® Value Index is a capitalization-weighted index that is comprised of the large-capitalization value segment of the U.S. equity universe, selecting from the Russell 1000 Index.

The Russell 2000® Index is a capitalization-weighted index that is comprised of the smallest 2,000 securities in the Russell 3000 Index, based on total market capitalization.

The Russell 2000® Value Index is a capitalization-weighted index that is comprised of the small-capitalization value segment of the U.S. equity universe, selecting from the Russell 2000 Index.

The Russell 3000® Index is a capitalization-weighted index that is comprised of the 3,000 largest U.S. companies, based on total market capitalization.

The Russell 3000® Value Index is a capitalization-weighted index that measures the performance of the value segment of the broad U.S. equity market, selecting from the Russell 3000 Index.

The Russell Midcap® Index is a market capitalization weighted index that is comprised of the smallest 800 stocks from the Russell 1000 Index.

 

18   WisdomTree Trust


Table of Contents

Description of Terms and Indexes (unaudited) (continued)

 

The Russell MidCap Value Index is a capitalization weighted index that measures the midcap value segment of the U.S. equity universe, selecting from the Russell MidCap Index.

The S&P 500® Equal Weight Index is the equal-weight version of the widely used S&P 500 Index. The index includes the same constituents as the capitalization-weighted S&P 500 Index, but each company is allocated a fixed weight — or 0.2% of the index total at each quarterly rebalance.

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

The S&P 500® Value Index is an index comprised of S&P 500 Index constituents that screen favorably on measures of value such as book value, earnings, and sales to price.

The S&P MidCap 400® Index is a capitalization-weighted index that is comprised of the mid-capitalization range of the U.S. stock market, with stocks selected by the Standard & Poor’s Index Committee.

Shareholder Yield generally refers to a data point that references a combination of dividend yield and buyback yield.

Value is generally characterized by lower price levels relative to fundamentals, such as earnings or dividends. Prices are lower because investors are less certain of the performance of these fundamentals in the future. This term is also related to the value factor, which associates these stock characteristics with excess returns vs. the market over time.

The WisdomTree U.S. Dividend ex-Financials Index is comprised of high dividend-yielding stocks outside the Financials sector.

The WisdomTree U.S. Dividend Index defines the dividend-paying portion of the U.S. stock market.

The WisdomTree U.S. High Dividend Index is comprised of companies with high dividend yields, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. LargeCap Dividend Index is comprised of the large-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. LargeCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the large-capitalization segment of the U.S. Stock Market.

The WisdomTree U.S. MidCap Dividend Index is comprised of the mid-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. MidCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the mid-capitalization segment of the U.S. Stock Market.

The WisdomTree U.S. Multifactor Index is comprised of 200 U.S. companies with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation.

The WisdomTree U.S. Quality Dividend Growth Index is comprised of dividend-paying stocks with growth characteristics.

The WisdomTree U.S. SmallCap Dividend Index is comprised of the small-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. SmallCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the small-capitalization segment of the U.S. Stock Market.

 

WisdomTree Trust      19  


Table of Contents

Description of Terms and Indexes (unaudited) (concluded)

 

The WisdomTree U.S. SmallCap Quality Dividend Growth Index is comprised of the small-capitalization segment of dividend-paying stocks with growth characteristics.

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

The Dow Jones U.S. Select Dividend Index is calculated, distributed and marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC, and has been licensed for use.

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

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

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

 

20   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. Dividend ex-Financials Fund (DTN)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.4%      
United States – 99.4%      
Aerospace & Defense – 0.8%

 

Lockheed Martin Corp.

     13,546      $ 4,591,417  
Air Freight & Logistics – 1.9%

 

C.H. Robinson Worldwide, Inc.(a)

     73,929        4,894,100  

United Parcel Service, Inc. Class B

     57,639        5,384,635  
     

 

 

 
Total Air Freight & Logistics               10,278,735  
Automobiles – 1.0%      

General Motors Co.

     252,481        5,246,555  
Beverages – 1.4%

 

Molson Coors Beverage Co. Class B

     189,906        7,408,233  
Biotechnology – 4.3%

 

AbbVie, Inc.

     130,827        9,967,709  

Amgen, Inc.

     22,253        4,511,351  

Gilead Sciences, Inc.

     121,721        9,099,862  
     

 

 

 
Total Biotechnology               23,578,922  
Chemicals – 4.4%      

Air Products & Chemicals, Inc.

     18,145        3,621,923  

Celanese Corp.

     33,948        2,491,444  

Corteva, Inc.

     161,286        3,790,221  

Dow, Inc.

     210,397        6,152,008  

Eastman Chemical Co.

     91,527        4,263,328  

International Flavors & Fragrances, Inc.

     33,846        3,455,000  
     

 

 

 
Total Chemicals               23,773,924  
Communications Equipment – 1.1%      

Cisco Systems, Inc.

     145,401        5,715,713  
Containers & Packaging – 3.3%

 

International Paper Co.

     203,882        6,346,847  

Packaging Corp. of America

     54,223        4,708,183  

WestRock Co.

     240,975        6,809,953  
     

 

 

 
Total Containers & Packaging               17,864,983  
Distributors – 0.7%      

Genuine Parts Co.(a)

     59,407        3,999,873  
Diversified Telecommunication Services – 4.9%

 

AT&T, Inc.

     304,691        8,881,743  

CenturyLink, Inc.(a)

     1,083,887        10,253,571  

Verizon Communications, Inc.

     143,463        7,708,267  
     

 

 

 
Total Diversified Telecommunication Services               26,843,581  
Electric Utilities – 8.7%      

Avangrid, Inc.

     156,909        6,869,476  

Duke Energy Corp.

     101,646        8,221,129  

Edison International

     103,984        5,697,283  

Exelon Corp.

     158,877        5,848,262  

FirstEnergy Corp.

     145,432        5,827,460  

PPL Corp.

     290,641        7,173,020  

Southern Co. (The)

     140,655        7,615,062  
     

 

 

 
Total Electric Utilities               47,251,692  
Electrical Equipment – 0.7%      

Emerson Electric Co.

     75,999        3,621,352  
Energy Equipment & Services – 0.9%

 

Baker Hughes Co.

     289,706      3,041,913  

Halliburton Co.

     305,079        2,089,791  
     

 

 

 
Total Energy Equipment & Services               5,131,704  
Entertainment – 0.6%      

Activision Blizzard, Inc.

     24,564        1,461,067  

Walt Disney Co. (The)

     16,936        1,636,017  
     

 

 

 
Total Entertainment               3,097,084  
Equity Real Estate Investment Trusts (REITs) – 11.6%

 

  

Healthpeak Properties, Inc.

     281,086        6,703,901  

Host Hotels & Resorts, Inc.

     544,459        6,010,827  

Medical Properties Trust, Inc.

     538,523        9,311,063  

Simon Property Group, Inc.

     82,048        4,501,153  

Ventas, Inc.

     209,290        5,608,972  

VICI Properties, Inc.

     422,552        7,031,265  

Vornado Realty Trust

     133,551        4,835,882  

W.P. Carey, Inc.

     137,349        7,977,230  

Welltower, Inc.

     111,510        5,104,928  

Weyerhaeuser Co.

     331,460        5,618,247  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     62,703,468  
Food & Staples Retailing – 1.0%      

Walgreens Boots Alliance, Inc.

     113,093        5,174,005  
Food Products – 6.8%

 

Archer-Daniels-Midland Co.

     153,811        5,411,071  

General Mills, Inc.

     152,182        8,030,644  

J.M. Smucker Co. (The)

     70,493        7,824,723  

Kellogg Co.(a)

     112,910        6,773,471  

Kraft Heinz Co. (The)

     354,396        8,767,757  
     

 

 

 
Total Food Products               36,807,666  
Health Care Providers & Services – 2.1%      

Cardinal Health, Inc.

     139,244        6,675,357  

CVS Health Corp.

     76,982        4,567,342  
     

 

 

 
Total Health Care Providers & Services               11,242,699  
Hotels, Restaurants & Leisure – 2.6%      

Las Vegas Sands Corp.

     151,900        6,451,193  

McDonald’s Corp.

     27,808        4,598,053  

Wynn Resorts Ltd.

     54,446        3,277,105  
     

 

 

 
Total Hotels, Restaurants & Leisure               14,326,351  
Household Products – 1.1%      

Kimberly-Clark Corp.

     47,499        6,073,697  
Industrial Conglomerates – 1.1%

 

3M Co.

     42,850        5,849,454  
IT Services – 2.3%

 

International Business Machines Corp.

     76,711        8,509,551  

Western Union Co. (The)

     233,025        4,224,744  
     

 

 

 
Total IT Services               12,734,295  
Leisure Products – 0.7%      

Hasbro, Inc.

     55,022        3,936,824  
Machinery – 2.5%

 

Caterpillar, Inc.

     41,705        4,839,448  

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. Dividend ex-Financials Fund (DTN)

March 31, 2020

 

 

 

Investments    Shares      Value  

Cummins, Inc.

     33,509      $ 4,534,438  

Illinois Tool Works, Inc.

     29,530        4,196,804  
     

 

 

 
Total Machinery               13,570,690  
Media – 1.9%      

Comcast Corp. Class A

     93,101        3,200,812  

Omnicom Group, Inc.(a)

     85,013        4,667,214  

Sirius XM Holdings, Inc.(a)

     238,985        1,180,586  

ViacomCBS, Inc. Class B

     98,518        1,380,237  
     

 

 

 
Total Media

 

     10,428,849  
Metals & Mining – 0.7%

 

Nucor Corp.

     107,322        3,865,738  
Multi-Utilities – 3.8%

 

CenterPoint Energy, Inc.

     385,676        5,958,694  

Consolidated Edison, Inc.

     82,870        6,463,860  

Dominion Energy, Inc.

     116,553        8,413,961  
     

 

 

 
Total Multi-Utilities

 

     20,836,515  
Oil, Gas & Consumable Fuels – 8.0%

 

Chevron Corp.

     73,447        5,321,970  

Exxon Mobil Corp.

     157,653        5,986,084  

Kinder Morgan, Inc.

     539,307        7,507,153  

Marathon Petroleum Corp.

     127,256        3,005,787  

Occidental Petroleum Corp.

     463,175        5,363,567  

ONEOK, Inc.

     150,293        3,277,890  

Valero Energy Corp.

     85,911        3,896,923  

Williams Cos., Inc. (The)

     629,269        8,904,156  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     43,263,530  
Pharmaceuticals – 5.3%

 

Bristol-Myers Squibb Co.

     105,596        5,885,921  

Eli Lilly & Co.(a)

     38,570        5,350,430  

Johnson & Johnson

     41,675        5,464,843  

Merck & Co., Inc.

     66,902        5,147,440  

Pfizer, Inc.

     208,378        6,801,458  
     

 

 

 
Total Pharmaceuticals

 

     28,650,092  
Semiconductors & Semiconductor Equipment – 3.0%

 

Broadcom, Inc.

     22,658        5,372,212  

Maxim Integrated Products, Inc.

     121,486        5,905,434  

Texas Instruments, Inc.

     50,414        5,037,871  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     16,315,517  
Specialty Retail – 1.5%

 

Best Buy Co., Inc.

     62,530      3,564,210  

Home Depot, Inc. (The)

     24,569        4,587,278  
     

 

 

 
Total Specialty Retail

 

     8,151,488  
Technology Hardware, Storage & Peripherals – 3.9%

 

Hewlett Packard Enterprise Co.

     403,366        3,916,684  

HP, Inc.

     368,530        6,397,681  

NetApp, Inc.

     106,835        4,453,951  

Western Digital Corp.

     156,355        6,507,495  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     21,275,811  
Tobacco – 4.0%

 

Altria Group, Inc.

     287,875        11,132,126  

Philip Morris International, Inc.

     142,362        10,386,732  
     

 

 

 
Total Tobacco

 

     21,518,858  
Trading Companies & Distributors – 0.8%

 

Fastenal Co.(a)

     142,650        4,457,813  

TOTAL COMMON STOCKS

(Cost: $692,796,934)

              539,587,128  
EXCHANGE-TRADED FUNDS – 0.2%

 

United States – 0.2%

 

WisdomTree U.S. LargeCap Dividend Fund(b)

     7,831        633,841  
WisdomTree U.S. MidCap Dividend Fund(b)      22,379        540,677  

TOTAL EXCHANGE-TRADED FUNDS

(Cost: $1,534,632)

              1,174,518  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.3%

 

United States – 0.3%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $1,975,042)      1,975,042        1,975,042  

TOTAL INVESTMENTS IN SECURITIES – 99.9%

(Cost: $696,306,608)

        542,736,688  

Other Assets less Liabilities – 0.1%

        273,804  
     

 

 

 
NET ASSETS – 100.0%             $ 543,010,492  

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $11,353,588 and the total market value of the collateral held by the Fund was $11,626,761. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $9,651,719.

 

(b)

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. LargeCap Dividend Fund

  $ 2,727,952     $ 8,946,906     $ 11,001,177     $ 194,238     $ (234,078   $ 633,841     $ 53,787  

WisdomTree U.S. MidCap Dividend Fund

    2,729,775       8,973,685       10,884,133       73,618       (352,268     540,677       55,469  

Total

  $ 5,457,727     $ 17,920,591     $ 21,885,310     $ 267,856     $ (586,346   $ 1,174,518     $ 109,256  

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. ESG Fund (RESP)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.9%

 

United States – 99.9%

 

Airlines – 0.5%

 

Delta Air Lines, Inc.

     5,219      $      148,898  

Southwest Airlines Co.

     5,960        212,236  
     

 

 

 
Total Airlines

 

     361,134  
Auto Components – 0.3%

 

BorgWarner, Inc.

     5,150        125,506  

Gentex Corp.

     4,069        90,169  
     

 

 

 
Total Auto Components

 

     215,675  
Banks – 5.4%

 

Bank of America Corp.

     38,417        815,593  

Citigroup, Inc.

     10,434        439,480  

Comerica, Inc.

     6,861        201,302  

JPMorgan Chase & Co.

     11,956        1,076,398  

KeyCorp

     23,668        245,437  

Regions Financial Corp.

     23,935        214,697  

U.S. Bancorp

     10,749        370,303  

Wells Fargo & Co.

     18,914        542,832  
     

 

 

 
Total Banks

 

     3,906,042  
Beverages – 1.7%

 

Brown-Forman Corp. Class B(a)

     3,220        178,742  

Coca-Cola Co. (The)

     10,309        456,173  

Molson Coors Beverage Co. Class B

     3,237        126,276  

PepsiCo, Inc.

     3,997        480,040  
     

 

 

 
Total Beverages

 

     1,241,231  
Biotechnology – 2.6%

 

AbbVie, Inc.

     4,124        314,208  

Alexion Pharmaceuticals, Inc.*

     489        43,907  

Amgen, Inc.

     2,035        412,556  

Biogen, Inc.*

     803        254,053  

BioMarin Pharmaceutical, Inc.*

     1,805        152,523  

Gilead Sciences, Inc.

     4,483        335,149  

Incyte Corp.*

     1,241        90,878  

Regeneron Pharmaceuticals, Inc.*

     427        208,500  

United Therapeutics Corp.*

     656        62,205  
     

 

 

 
Total Biotechnology

 

     1,873,979  
Building Products – 0.7%

 

Armstrong World Industries, Inc.

     1,212        96,257  

Fortune Brands Home & Security, Inc.

     2,916        126,117  

Lennox International, Inc.

     678        123,253  

Masco Corp.

     5,831        201,578  
     

 

 

 
Total Building Products

 

     547,205  
Capital Markets – 2.4%

 

Ameriprise Financial, Inc.

     1,908        195,532  

Bank of New York Mellon Corp. (The)

     9,434        317,737  

CBOE Global Markets, Inc.

     18        1,606  

Charles Schwab Corp. (The)

     9,841        330,854  

FactSet Research Systems, Inc.(a)

     792        206,459  

Intercontinental Exchange, Inc.

     3,397        274,308  

Moody’s Corp.

     1,321        279,391  

Nasdaq, Inc.

     1,589      150,876  
     

 

 

 
Total Capital Markets

 

     1,756,763  
Chemicals – 1.7%

 

Ashland Global Holdings, Inc.

     2,564        128,379  

CF Industries Holdings, Inc.

     5,434        147,805  

Ecolab, Inc.

     2,044        318,517  

FMC Corp.

     2,397        195,811  

NewMarket Corp.

     20        7,657  

Scotts Miracle-Gro Co. (The)

     1,375        140,800  

Sherwin-Williams Co. (The)

     624        286,741  
     

 

 

 
Total Chemicals

 

     1,225,710  
Commercial Services & Supplies – 1.0%

 

Cintas Corp.

     905        156,764  

MSA Safety, Inc.

     726        73,471  

Republic Services, Inc.

     2,823        211,894  

Waste Management, Inc.

     3,162        292,675  
     

 

 

 
Total Commercial Services & Supplies

 

     734,804  
Communications Equipment – 1.7%

 

Arista Networks, Inc.*

     828        167,712  

Ciena Corp.*

     3,815        151,875  

Cisco Systems, Inc.

     14,768        580,530  

Juniper Networks, Inc.

     8,377        160,336  

Motorola Solutions, Inc.

     1,497        198,981  
     

 

 

 
Total Communications Equipment

 

     1,259,434  
Construction & Engineering – 0.2%

 

EMCOR Group, Inc.

     2,854        175,007  
Consumer Finance – 1.3%

 

Ally Financial, Inc.

     8,830        127,417  

American Express Co.

     4,829        413,411  

Capital One Financial Corp.

     3,763        189,730  

Discover Financial Services

     4,398        156,877  

OneMain Holdings, Inc.

     300        5,736  

Synchrony Financial

     5,684        91,455  
     

 

 

 
Total Consumer Finance

 

     984,626  
Containers & Packaging – 0.7%

 

AptarGroup, Inc.

     1,875        186,638  

Crown Holdings, Inc.*

     2,712        157,404  

Sealed Air Corp.

     6,743        166,620  
     

 

 

 
Total Containers & Packaging

 

     510,662  
Distributors – 0.1%

 

Pool Corp.

     349        68,673  
Diversified Consumer Services – 0.2%

 

H&R Block, Inc.

     5,193        73,117  

Service Corp. International

     1,233        48,223  
     

 

 

 
Total Diversified Consumer Services

 

     121,340  
Diversified Financial Services – 0.3%

 

Voya Financial, Inc.

     4,839        196,221  
Diversified Telecommunication Services – 2.4%

 

AT&T, Inc.

     25,763        750,992  

CenturyLink, Inc.

     19,959        188,812  

Verizon Communications, Inc.

     14,466        777,258  
     

 

 

 
Total Diversified Telecommunication Services

 

     1,717,062  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. ESG Fund (RESP)

March 31, 2020

 

 

 

Investments    Shares      Value  
Electric Utilities – 1.4%

 

Edison International

     5,912      $ 323,918  

Eversource Energy

     3,833        299,779  

Hawaiian Electric Industries, Inc.

     4,401        189,463  

PG&E Corp.*(a)

     26,250        235,988  
     

 

 

 
Total Electric Utilities

 

     1,049,148  
Electrical Equipment – 1.0%

 

Emerson Electric Co.

     6,445        307,104  

Hubbell, Inc.

     1,009        115,773  

Rockwell Automation, Inc.

     1,823        275,109  
     

 

 

 
Total Electrical Equipment

 

     697,986  
Electronic Equipment, Instruments & Components – 0.9%

 

CDW Corp.

     1,572        146,620  

Jabil, Inc.

     5,382        132,290  

Keysight Technologies, Inc.*

     2,486        208,028  

SYNNEX Corp.

     1,158        84,650  

Zebra Technologies Corp. Class A*

     675        123,930  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     695,518  
Entertainment – 0.5%

 

Electronic Arts, Inc.*

     2,530        253,430  

Take-Two Interactive Software, Inc.*

     507        60,135  

Zynga, Inc. Class A*

     9,778        66,980  
     

 

 

 
Total Entertainment

 

     380,545  
Equity Real Estate Investment Trusts (REITs) – 2.4%

 

AvalonBay Communities, Inc.

     1,344        197,797  

Brixmor Property Group, Inc.

     10,858        103,151  

CubeSmart

     4,150        111,179  

Equity Residential

     3,266        201,545  

Federal Realty Investment Trust

     1,156        86,249  

Host Hotels & Resorts, Inc.

     21,533        237,724  

Iron Mountain, Inc.(a)

     7,913        188,329  

National Retail Properties, Inc.

     2,165        69,691  

Public Storage

     928        184,310  

Regency Centers Corp.

     3,549        136,388  

VICI Properties, Inc.

     4,113        68,440  

Vornado Realty Trust

     4,189        151,684  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     1,736,487  
Food & Staples Retailing – 0.6%

 

Performance Food Group Co.*

     2,795        69,092  

Sysco Corp.

     3,123        142,503  

U.S. Foods Holding Corp.*

     3,431        60,763  

Walgreens Boots Alliance, Inc.

     3,369        154,132  
     

 

 

 
Total Food & Staples Retailing

 

     426,490  
Food Products – 2.9%

 

Campbell Soup Co.

     3,728        172,084  

Conagra Brands, Inc.

     5,961        174,896  

Darling Ingredients, Inc.*

     3,226        61,842  

Flowers Foods, Inc.

     3,780        77,566  

General Mills, Inc.

     4,242        223,850  

Hershey Co. (The)

     1,313        173,972  

Hormel Foods Corp.

     4,091        190,804  

Ingredion, Inc.

     1,345      101,548  

J.M. Smucker Co. (The)

     1,221        135,531  

Kellogg Co.

     3,232        193,888  

Kraft Heinz Co. (The)

     3,561        88,099  

Lamb Weston Holdings, Inc.

     257        14,675  

McCormick & Co., Inc. Non-Voting Shares

     1,215        171,570  

Mondelez International, Inc. Class A

     4,705        235,626  

Pilgrim’s Pride Corp.*

     346        6,270  

Tootsie Roll Industries, Inc.

     3        110  

Tyson Foods, Inc. Class A

     1,095        63,368  
     

 

 

 
Total Food Products

 

     2,085,699  
Gas Utilities – 0.2%

 

ONE Gas, Inc.

     1,606        134,294  
Health Care Equipment & Supplies – 3.3%

 

Abbott Laboratories

     5,398        425,956  

Baxter International, Inc.

     2,980        241,946  

Becton, Dickinson and Co.

     1,255        288,361  

Boston Scientific Corp.*

     7,322        238,917  

Cooper Cos., Inc. (The)

     57        15,713  

Dentsply Sirona, Inc.

     3,295        127,945  

DexCom, Inc.*

     381        102,592  

Edwards Lifesciences Corp.*

     1,231        232,191  

Hologic, Inc.*

     2,210        77,571  

ResMed, Inc.

     1,032        152,003  

Teleflex, Inc.

     274        80,244  

Varian Medical Systems, Inc.*

     1,404        144,135  

West Pharmaceutical Services, Inc.

     1,074        163,517  

Zimmer Biomet Holdings, Inc.

     1,327        134,133  
     

 

 

 
Total Health Care Equipment & Supplies

 

     2,425,224  
Health Care Providers & Services – 3.3%

 

Amedisys, Inc.*

     340        62,404  

AmerisourceBergen Corp.

     1,978        175,053  

Anthem, Inc.

     756        171,642  

Cardinal Health, Inc.

     3,479        166,783  

Chemed Corp.

     34        14,729  

CVS Health Corp.

     4,147        246,042  

DaVita, Inc.*

     1,871        142,308  

HCA Healthcare, Inc.

     1,171        105,214  

Henry Schein, Inc.*

     1,527        77,144  

Humana, Inc.

     708        222,326  

Laboratory Corp. of America Holdings*

     709        89,611  

McKesson Corp.

     1,253        169,481  

Molina Healthcare, Inc.*

     316        44,148  

Quest Diagnostics, Inc.

     1,584        127,195  

UnitedHealth Group, Inc.

     2,243        559,359  

Universal Health Services, Inc. Class B

     223        22,095  
     

 

 

 
Total Health Care Providers & Services

 

     2,395,534  
Health Care Technology – 0.2%

 

Cerner Corp.

     2,249        141,665  
Hotels, Restaurants & Leisure – 1.9%

 

Darden Restaurants, Inc.

     2,311        125,857  

Dunkin’ Brands Group, Inc.

     1,898        100,784  

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. ESG Fund (RESP)

March 31, 2020

 

 

 

Investments    Shares      Value  

Las Vegas Sands Corp.

     4,480      $ 190,266  

McDonald’s Corp.

     2,376        392,872  

MGM Resorts International

     8,358        98,624  

Starbucks Corp.

     4,721        310,358  

Yum! Brands, Inc.

     2,195        150,423  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     1,369,184  
Household Durables – 0.6%

 

D.R. Horton, Inc.

     2,252        76,568  

Lennar Corp. Class A

     1,364        52,105  

Newell Brands, Inc.

     9,748        129,453  

NVR, Inc.*

     12        30,829  

PulteGroup, Inc.

     2,014        44,953  

Whirlpool Corp.(a)

     1,296        111,197  
     

 

 

 
Total Household Durables

 

     445,105  
Household Products – 2.0%

 

Church & Dwight Co., Inc.

     2,199        141,132  

Clorox Co. (The)

     1,130        195,772  

Colgate-Palmolive Co.

     3,903        259,003  

Kimberly-Clark Corp.

     1,517        193,979  

Procter & Gamble Co. (The)

     6,039        664,290  
     

 

 

 
Total Household Products

 

     1,454,176  
Industrial Conglomerates – 0.7%

 

3M Co.

     3,513        479,560  
Insurance – 2.7%

 

Allstate Corp. (The)

     3,110        285,280  

American Financial Group, Inc.

     1,176        82,414  

Assurant, Inc.

     1,305        135,838  

Brown & Brown, Inc.

     2,014        72,947  

Fidelity National Financial, Inc.

     1,808        44,983  

First American Financial Corp.

     2,329        98,773  

Hanover Insurance Group, Inc. (The)

     1,321        119,656  

Hartford Financial Services Group, Inc. (The)

     5,460        192,410  

Markel Corp.*

     64        59,385  

MetLife, Inc.

     7,479        228,633  

Progressive Corp. (The)

     3,445        254,379  

Travelers Cos., Inc. (The)

     2,315        229,995  

Unum Group

     12,905        193,704  
     

 

 

 
Total Insurance

 

     1,998,397  
Interactive Media & Services – 6.0%

 

Alphabet, Inc. Class A*

     2,342        2,721,287  

Facebook, Inc. Class A*

     10,129        1,689,517  
     

 

 

 
Total Interactive Media & Services

 

     4,410,804  
Internet & Direct Marketing Retail – 3.4%

 

Amazon.com, Inc.*

     1,101        2,146,642  

eBay, Inc.

     6,037        181,472  

Etsy, Inc.*

     3,097        119,049  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     2,447,163  
IT Services – 6.7%

 

Akamai Technologies, Inc.*

     2,422        221,589  

Automatic Data Processing, Inc.

     2,417        330,355  

Booz Allen Hamilton Holding Corp.

     2,408        165,285  

Cognizant Technology Solutions Corp. Class A

     4,684        217,665  

DXC Technology Co.

     11,200        146,160  

EPAM Systems, Inc.*

     525      97,471  

Euronet Worldwide, Inc.*

     437        37,460  

Gartner, Inc.*

     1,031        102,657  

GoDaddy, Inc. Class A*

     2,031        115,990  

International Business Machines Corp.

     3,573        396,353  

Jack Henry & Associates, Inc.

     650        100,906  

Leidos Holdings, Inc.

     2,331        213,636  

MasterCard, Inc. Class A

     3,394        819,855  

MAXIMUS, Inc.

     2,000        116,400  

PayPal Holdings, Inc.*

     4,220        404,023  

Square, Inc. Class A*(a)

     2,152        112,722  

VeriSign, Inc.*

     830        149,475  

Visa, Inc. Class A

     6,555        1,056,142  

Western Union Co. (The)

     4,543        82,364  
     

 

 

 
Total IT Services

 

     4,886,508  
Life Sciences Tools & Services – 1.9%

 

Agilent Technologies, Inc.

     2,869        205,478  

Bio-Rad Laboratories, Inc. Class A*

     237        83,083  

Bruker Corp.

     2,939        105,392  

Charles River Laboratories International, Inc.*

     611        77,114  

Mettler-Toledo International, Inc.*

     265        182,985  

PerkinElmer, Inc.

     1,722        129,632  

PRA Health Sciences, Inc.*

     1,250        103,800  

Thermo Fisher Scientific, Inc.

     1,231        349,112  

Waters Corp.*

     656        119,425  
     

 

 

 
Total Life Sciences Tools & Services

 

     1,356,021  
Machinery – 1.9%

 

AGCO Corp.

     3,022        142,790  

Caterpillar, Inc.

     4,148        481,334  

Deere & Co.

     2,446        337,939  

Lincoln Electric Holdings, Inc.

     2,449        168,981  

Xylem, Inc.

     3,665        238,701  
     

 

 

 
Total Machinery

 

     1,369,745  
Media – 2.3%

 

Cable One, Inc.

     45        73,980  

Charter Communications, Inc. Class A*

     679        296,254  

Comcast Corp. Class A

     17,789        611,586  

Discovery, Inc. Class A*(a)

     1,688        32,815  

Interpublic Group of Cos., Inc. (The)

     11,361        183,935  

New York Times Co. (The) Class A

     4,644        142,617  

Omnicom Group, Inc.(a)

     3,131        171,892  

Sirius XM Holdings, Inc.(a)

     28,848        142,509  
     

 

 

 
Total Media

 

     1,655,588  
Metals & Mining – 0.1%

 

Reliance Steel & Aluminum Co.

     885        77,517  
Multi-Utilities – 1.3%

 

CenterPoint Energy, Inc.

     14,519        224,319  

Consolidated Edison, Inc.

     3,970        309,660  

Sempra Energy

     3,479        393,092  
     

 

 

 
Total Multi-Utilities

 

     927,071  
Multiline Retail – 0.5%

 

Kohl’s Corp.

     3,459        50,467  

Nordstrom, Inc.

     6,348        97,378  

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. ESG Fund (RESP)

March 31, 2020

 

 

 

Investments    Shares      Value  

Target Corp.

     2,616      $ 243,210  
     

 

 

 
Total Multiline Retail

 

     391,055  
Pharmaceuticals – 3.7%

 

Bristol-Myers Squibb Co.

     6,672        371,897  

Eli Lilly & Co.

     2,862        397,017  

Johnson & Johnson

     6,339        831,233  

Merck & Co., Inc.

     6,171        474,797  

Pfizer, Inc.

     13,236        432,023  

Zoetis, Inc.

     1,605        188,892  
     

 

 

 
Total Pharmaceuticals

 

     2,695,859  
Professional Services – 1.3%

 

CoStar Group, Inc.*

     303        177,925  

FTI Consulting, Inc.*

     1,982        237,384  

ManpowerGroup, Inc.

     4,128        218,743  

Robert Half International, Inc.

     4,314        162,853  

TransUnion

     2,218        146,787  
     

 

 

 
Total Professional Services

 

     943,692  
Real Estate Management & Development – 0.5%

 

CBRE Group, Inc. Class A*

     5,576        210,271  

Jones Lang LaSalle, Inc.

     1,753        177,018  
     

 

 

 
Total Real Estate Management & Development

 

     387,289  
Road & Rail – 0.7%

 

CSX Corp.

     6,902        395,484  

Landstar System, Inc.

     1,452        139,189  
     

 

 

 
Total Road & Rail

 

     534,673  
Semiconductors & Semiconductor Equipment – 3.8%

 

Applied Materials, Inc.

     6,046        277,028  

Cirrus Logic, Inc.*

     1,980        129,947  

Entegris, Inc.

     2,732        122,312  

First Solar, Inc.*(a)

     4,442        160,179  

Intel Corp.

     15,099        817,158  

Lam Research Corp.

     861        206,640  

Qorvo, Inc.*

     1,054        84,984  

QUALCOMM, Inc.

     5,239        354,418  

Teradyne, Inc.

     3,076        166,627  

Texas Instruments, Inc.

     4,210        420,705  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     2,739,998  
Software – 8.8%

 

Adobe, Inc.*

     1,925        612,612  

Autodesk, Inc.*

     1,785        278,639  

Cadence Design Systems, Inc.*

     2,356        155,590  

Citrix Systems, Inc.

     1,348        190,809  

Fair Isaac Corp.*

     368        113,230  

Fortinet, Inc.*

     1,439        145,584  

Intuit, Inc.

     1,404        322,920  

j2 Global, Inc.

     77        5,763  

Microsoft Corp.

     20,702        3,264,912  

Nuance Communications, Inc.*

     6,131        102,878  

Oracle Corp.

     10,980        530,663  

ServiceNow, Inc.*

     782        224,106  

Synopsys, Inc.*

     1,081        139,222  

VMware, Inc. Class A*(a)

     2,408        291,609  
     

 

 

 
Total Software

 

     6,378,537  
Specialty Retail – 2.4%

 

AutoZone, Inc.*

     108      91,368  

Best Buy Co., Inc.

     3,118        177,726  

Gap, Inc. (The)

     15,611        109,902  

Home Depot, Inc. (The)

     3,085        576,000  

Lowe’s Cos., Inc.

     3,340        287,407  

TJX Cos., Inc. (The)

     5,025        240,245  

Tractor Supply Co.

     1,738        146,948  

Ulta Beauty, Inc.*

     300        52,710  

Williams-Sonoma, Inc.

     2,268        96,435  
     

 

 

 
Total Specialty Retail

 

     1,778,741  
Technology Hardware, Storage & Peripherals – 4.5%

 

Apple, Inc.

     11,358        2,888,226  

Hewlett Packard Enterprise Co.

     21,561        209,357  

NetApp, Inc.

     4,583        191,065  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     3,288,648  
Textiles, Apparel & Luxury Goods – 1.0%

 

Deckers Outdoor Corp.*

     789        105,726  

Hanesbrands, Inc.(a)

     10,595        83,383  

NIKE, Inc. Class B

     5,188        429,255  

Ralph Lauren Corp.

     1,358        90,755  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     709,119  
Thrifts & Mortgage Finance – 0.0%

 

MGIC Investment Corp.

     3,648        23,165  
Trading Companies & Distributors – 0.9%

 

HD Supply Holdings, Inc.*

     4,137        117,615  

United Rentals, Inc.*

     2,325        239,243  

W.W. Grainger, Inc.

     1,135        282,047  
     

 

 

 
Total Trading Companies & Distributors

 

     638,905  
Water Utilities – 0.4%

 

American Water Works Co., Inc.

     2,385        285,151  
Wireless Telecommunication Services – 0.0%

 

NII Holdings, Inc.*

     5,216        11,345  

TOTAL COMMON STOCKS

(Cost: $73,048,813)

              72,747,174  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.4%

 

United States – 0.4%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(b)

     
(Cost: $322,107)      322,107        322,107  

TOTAL INVESTMENTS IN SECURITIES – 100.3%

(Cost: $73,370,920)

        73,069,281  

Other Assets less Liabilities – (0.3)%

        (245,187
     

 

 

 
NET ASSETS – 100.0%             $ 72,824,094  

 

* 

Non-income producing security.

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $11,345, which represents 0.02% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $1,406,719 and the total market value of the collateral held by the Fund was $1,452,869. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $1,130,762.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.3%

 

United States – 99.3%

 

Air Freight & Logistics – 0.6%

 

United Parcel Service, Inc. Class B

     42,635      $ 3,982,962  
Automobiles – 0.7%

 

General Motors Co.

     228,453        4,747,253  
Banks – 5.4%

 

Ames National Corp.

     2,091        42,761  

Arrow Financial Corp.

     3,294        91,804  

Associated Banc-Corp.

     18,084        231,294  

Bank of Hawaii Corp.(a)

     2,617        144,563  

Bank OZK

     23,700        395,790  

BCB Bancorp, Inc.

     2,209        23,526  

Boston Private Financial Holdings, Inc.

     6,168        44,101  

Cadence BanCorp

     9,748        63,849  

Cathay General Bancorp

     14,242        326,854  

Central Pacific Financial Corp.

     5,046        80,231  

CIT Group, Inc.

     10,582        182,645  

Citizens & Northern Corp.

     1,855        37,100  

Citizens Financial Group, Inc.

     59,177        1,113,119  

Comerica, Inc.

     29,842        875,564  

Community Trust Bancorp, Inc.

     3,074        97,722  

Cullen/Frost Bankers, Inc.(a)

     3,231        180,258  

CVB Financial Corp.

     8,281        166,034  

Fifth Third Bancorp

     123,676        1,836,589  

Financial Institutions, Inc.

     2,191        39,745  

First Bancorp, Inc.

     4,584        100,848  

First Busey Corp.

     2,662        45,547  

First Choice Bancorp

     2,557        38,381  

First Community Bankshares, Inc.

     1,438        33,505  

First Financial Bancorp

     6,505        96,990  

First Hawaiian, Inc.

     10,429        172,391  

First of Long Island Corp. (The)

     1,789        31,039  

Flushing Financial Corp.

     3,535        47,228  

FNB Corp.

     27,253        200,855  

Fulton Financial Corp.

     8,346        95,896  

Great Western Bancorp, Inc.

     7,006        143,483  

Heritage Commerce Corp.

     9,337        71,615  

Hope Bancorp, Inc.

     11,036        90,716  

Huntington Bancshares, Inc.

     151,461        1,243,495  

Independent Bank Corp.

     3,598        46,306  

KeyCorp

     204,208        2,117,637  

LCNB Corp.

     2,012        25,351  

Mercantile Bank Corp.

     1,615        34,190  

Metrocity Bankshares, Inc.

     1,411        16,565  

Midland States Bancorp, Inc.

     3,839        67,144  

National Bankshares, Inc.

     1,015        32,379  

Northrim BanCorp, Inc.

     924        24,948  

PacWest Bancorp

     28,634        513,121  

Penns Woods Bancorp, Inc.

     1,621        39,390  

Peoples Bancorp, Inc.

     4,767        105,589  

Peoples Financial Services Corp.

     755        30,004  

Premier Financial Bancorp, Inc.

     3,244        40,226  

Regions Financial Corp.

     196,455      1,762,201  

Sandy Spring Bancorp, Inc.(a)

     6,691        151,484  

Synovus Financial Corp.

     16,522        290,126  

Truist Financial Corp.

     158,918        4,901,031  

Umpqua Holdings Corp.

     21,469        234,012  

Univest Financial Corp.

     4,476        73,048  

Valley National Bancorp

     31,808        232,517  

Washington Trust Bancorp, Inc.

     2,207        80,688  

Wells Fargo & Co.

     603,839        17,330,179  

WesBanco, Inc.

     8,366        198,274  

West Bancorporation, Inc.

     3,197        52,271  
     

 

 

 
Total Banks

 

     36,784,219  
Beverages – 3.2%

 

Coca-Cola Co. (The)

     474,191        20,982,952  

Molson Coors Beverage Co. Class B

     16,288        635,395  
     

 

 

 
Total Beverages

 

     21,618,347  
Biotechnology – 8.0%

 

AbbVie, Inc.

     448,618        34,180,206  

Gilead Sciences, Inc.

     273,720        20,463,307  
     

 

 

 
Total Biotechnology

 

     54,643,513  
Capital Markets – 0.7%

 

Ares Management Corp. Class A

     8,083        250,007  

Artisan Partners Asset Management, Inc. Class A

     23,779        511,011  

Blackstone Group, Inc. (The) Class A

     45,308        2,064,686  

BrightSphere Investment Group

     5,797        37,043  

Diamond Hill Investment Group, Inc.

     589        53,151  

Federated Hermes, Inc. Class B

     12,551        239,097  

Franklin Resources, Inc.

     37,134        619,767  

Legg Mason, Inc.

     7,591        370,820  

Moelis & Co. Class A(a)

     6,214        174,613  

Waddell & Reed Financial, Inc. Class A

     24,535        279,208  
     

 

 

 
Total Capital Markets

 

     4,599,403  
Chemicals – 0.1%

 

Eastman Chemical Co.

     16,778        781,519  

Huntsman Corp.

     12,081        174,329  
     

 

 

 
Total Chemicals

 

     955,848  
Commercial Services & Supplies – 0.1%

 

Ennis, Inc.

     6,306        118,426  

HNI Corp.

     5,115        128,847  

RR Donnelley & Sons Co.(a)

     3,738        3,583  

Steelcase, Inc. Class A

     10,424        102,885  
     

 

 

 
Total Commercial Services & Supplies

 

     353,741  
Communications Equipment – 2.9%

 

Cisco Systems, Inc.

     493,549        19,401,411  

Juniper Networks, Inc.

     19,564        374,455  
     

 

 

 
Total Communications Equipment

 

     19,775,866  
Consumer Finance – 0.2%

 

Navient Corp.

     38,074        288,601  

Santander Consumer USA Holdings, Inc.

     70,773        984,452  
     

 

 

 
Total Consumer Finance

 

     1,273,053  

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Containers & Packaging – 0.5%

 

Greif, Inc. Class B

     2,334      $ 93,500  

International Paper Co.

     65,553        2,040,665  

Myers Industries, Inc.

     2,985        32,089  

Sonoco Products Co.

     10,355        479,954  

WestRock Co.

     22,089        624,235  
     

 

 

 
Total Containers & Packaging

 

     3,270,443  
Distributors – 0.0%

 

Weyco Group, Inc.

     1,697        34,228  
Diversified Consumer Services – 0.1%

 

H&R Block, Inc.

     33,011        464,795  
Diversified Telecommunication Services – 11.3%

 

AT&T, Inc.

     1,192,405        34,758,606  

CenturyLink, Inc.

     151,219        1,430,532  

Cogent Communications Holdings, Inc.

     3,617        296,485  

Verizon Communications, Inc.

     750,212        40,308,891  
     

 

 

 
Total Diversified Telecommunication Services

 

     76,794,514  
Electric Utilities – 8.9%

 

American Electric Power Co., Inc.

     84,654        6,770,627  

Avangrid, Inc.

     41,664        1,824,050  

Duke Energy Corp.

     172,743        13,971,454  

Edison International

     22,783        1,248,281  

Entergy Corp.

     23,356        2,194,763  

Evergy, Inc.

     41,568        2,288,318  

Exelon Corp.

     181,410        6,677,702  

FirstEnergy Corp.

     98,963        3,965,447  

Genie Energy Ltd. Class B

     4,325        31,054  

Hawaiian Electric Industries, Inc.(a)

     11,728        504,890  

OGE Energy Corp.

     39,816        1,223,546  

Pinnacle West Capital Corp.

     22,860        1,732,559  

PPL Corp.

     189,317        4,672,344  

Southern Co. (The)

     241,769        13,089,374  
     

 

 

 
Total Electric Utilities

 

     60,194,409  
Energy Equipment & Services – 0.1%

 

Archrock, Inc.

     18,545        69,729  

Baker Hughes Co.

     36,743        385,801  

Halliburton Co.

     48,930        335,171  

Solaris Oilfield Infrastructure, Inc. Class A(a)

     3,853        20,228  
     

 

 

 
Total Energy Equipment & Services

 

     810,929  
Entertainment – 0.0%

 

Cinemark Holdings, Inc.(a)

     8,880        90,487  
Equity Real Estate Investment Trusts (REITs) – 10.8%

 

Acadia Realty Trust

     8,024        99,417  

Agree Realty Corp.

     2,911        180,191  

Alexander & Baldwin, Inc.

     14,394        161,501  

Alexander’s, Inc.

     1,124        310,168  

American Campus Communities, Inc.

     11,059        306,887  

Apartment Investment & Management Co. Class A

     25,233        886,940  

Armada Hoffler Properties, Inc.

     9,515        101,810  

AvalonBay Communities, Inc.

     15,379        2,263,327  

Bluerock Residential Growth REIT, Inc.(a)

     5,968      33,242  

Brandywine Realty Trust

     49,921        525,169  

Brixmor Property Group, Inc.

     91,662        870,789  

Brookfield Property REIT, Inc. Class A(a)

     27,408        232,694  

BRT Apartments Corp.

     3,397        34,819  

Camden Property Trust

     5,769        457,136  

CareTrust REIT, Inc.

     8,408        124,354  

Community Healthcare Trust, Inc.

     1,855        71,009  

CoreCivic, Inc.

     48,371        540,304  

CorEnergy Infrastructure Trust, Inc.(a)

     5,039        92,617  

CoreSite Realty Corp.

     3,134        363,231  

Corporate Office Properties Trust

     24,253        536,719  

Cousins Properties, Inc.

     8,518        249,322  

Crown Castle International Corp.

     28,189        4,070,492  

CubeSmart

     30,235        809,996  

Easterly Government Properties, Inc.

     12,691        312,706  

EPR Properties

     28,950        701,169  

Essential Properties Realty Trust, Inc.

     10,406        135,902  

Extra Space Storage, Inc.

     25,756        2,466,395  

Federal Realty Investment Trust

     9,239        689,322  

Four Corners Property Trust, Inc.

     16,975        317,602  

Franklin Street Properties Corp.

     10,466        59,970  

Gaming and Leisure Properties, Inc.

     82,025        2,272,913  

GEO Group, Inc. (The)

     50,803        617,764  

Getty Realty Corp.

     9,960        236,450  

Gladstone Commercial Corp.

     5,039        72,360  

Gladstone Land Corp.

     4,692        55,600  

Global Medical REIT, Inc.

     12,089        122,341  

Global Net Lease, Inc.

     35,485        474,434  

Hannon Armstrong Sustainable Infrastructure Capital, Inc.

     10,640        217,162  

Healthcare Realty Trust, Inc.

     9,892        276,284  

Healthcare Trust of America, Inc. Class A

     17,571        426,624  

Healthpeak Properties, Inc.

     131,280        3,131,028  

Highwoods Properties, Inc.

     15,915        563,709  

Host Hotels & Resorts, Inc.

     181,178        2,000,205  

Independence Realty Trust, Inc.

     18,553        165,864  

Industrial Logistics Properties Trust

     25,901        454,304  

Investors Real Estate Trust

     1,017        55,935  

Iron Mountain, Inc.(a)

     84,162        2,003,056  

iStar, Inc.

     10,317        109,463  

Jernigan Capital, Inc.

     10,097        110,663  

Kimco Realty Corp.

     132,271        1,279,061  

Kite Realty Group Trust

     21,373        202,402  

Lamar Advertising Co. Class A

     21,397        1,097,238  

Lexington Realty Trust

     56,304        559,099  

Life Storage, Inc.

     10,156        960,250  

LTC Properties, Inc.

     11,221        346,729  

Macerich Co. (The)(a)

     29,799        167,768  

Mack-Cali Realty Corp.

     19,236        292,964  

Medical Properties Trust, Inc.

     102,456        1,771,464  

Monmouth Real Estate Investment Corp.

     9,891        119,187  

National Health Investors, Inc.

     8,749        433,250  

National Retail Properties, Inc.

     25,767        829,440  

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2020

 

 

 

Investments    Shares      Value  

National Storage Affiliates Trust

     4,976      $ 147,290  

New Senior Investment Group, Inc.

     11,438        29,281  

Omega Healthcare Investors, Inc.

     80,251        2,129,862  

One Liberty Properties, Inc.

     4,101        57,127  

Outfront Media, Inc.

     30,649        413,149  

Park Hotels & Resorts, Inc.

     64,849        512,956  

Physicians Realty Trust

     18,514        258,085  

Piedmont Office Realty Trust, Inc. Class A

     26,879        474,683  

Plymouth Industrial REIT, Inc.

     5,135        57,307  

Preferred Apartment Communities, Inc. Class A

     7,036        50,518  

Public Storage

     38,323        7,611,331  

Realty Income Corp.

     22,908        1,142,193  

Regency Centers Corp.

     24,450        939,613  

Retail Opportunity Investments Corp.

     29,198        242,051  

Retail Properties of America, Inc. Class A

     39,739        205,451  

Retail Value, Inc.

     6,471        79,270  

RLJ Lodging Trust

     48,647        375,555  

RPT Realty

     10,197        61,488  

Ryman Hospitality Properties, Inc.

     12,340        442,389  

Sabra Health Care REIT, Inc.

     62,447        681,921  

Saul Centers, Inc.

     2,181        71,406  

Service Properties Trust

     71,977        388,676  

Simon Property Group, Inc.

     67,345        3,694,547  

SITE Centers Corp.

     42,998        224,020  

SL Green Realty Corp.

     17,780        766,318  

Spirit Realty Capital, Inc.

     28,491        745,040  

STAG Industrial, Inc.

     12,151        273,641  

STORE Capital Corp.

     49,642        899,513  

Tanger Factory Outlet Centers, Inc.(a)

     34,264        171,320  

UDR, Inc.

     32,732        1,196,027  

Urban Edge Properties

     20,629        181,741  

Urstadt Biddle Properties, Inc. Class A

     7,072        99,715  

Ventas, Inc.

     39,874        1,068,623  

VEREIT, Inc.

     241,038        1,178,676  

VICI Properties, Inc.

     127,862        2,127,624  

Vornado Realty Trust

     43,829        1,587,048  

W.P. Carey, Inc.

     17,469        1,014,599  

Washington Real Estate Investment Trust

     6,746        161,027  

Weingarten Realty Investors

     36,922        532,784  

Welltower, Inc.

     33,756        1,545,350  

Whitestone REIT(a)

     13,337        82,689  

Xenia Hotels & Resorts, Inc.

     32,227        331,938  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     73,684,053  
Food & Staples Retailing – 0.7%

 

Village Super Market, Inc. Class A

     1,585        38,959  

Walgreens Boots Alliance, Inc.

     106,036        4,851,147  

Weis Markets, Inc.

     1,432        59,657  
     

 

 

 
Total Food & Staples Retailing

 

     4,949,763  
Food Products – 2.0%

 

Archer-Daniels-Midland Co.

     32,386        1,139,340  

Campbell Soup Co.

     32,863        1,516,956  

Flowers Foods, Inc.

     27,891        572,323  

General Mills, Inc.

     129,765        6,847,699  

Ingredion, Inc.

     7,125      537,938  

J.M. Smucker Co. (The)

     14,704        1,632,144  

Kellogg Co.

     21,982        1,318,700  
     

 

 

 
Total Food Products

 

     13,565,100  
Gas Utilities – 0.2%

 

National Fuel Gas Co.

     17,991        670,884  

Spire, Inc.

     5,914        440,475  
     

 

 

 
Total Gas Utilities

 

     1,111,359  
Health Care Providers & Services – 0.2%

 

Cardinal Health, Inc.

     19,661        942,548  

Patterson Cos., Inc.

     8,740        133,635  
     

 

 

 
Total Health Care Providers & Services

 

     1,076,183  
Hotels, Restaurants & Leisure – 0.5%

 

Bluegreen Vacations Corp.(a)

     17,002        98,272  

Brinker International, Inc.(a)

     2,698        32,403  

Cheesecake Factory, Inc. (The)(a)

     2,914        49,771  

Cracker Barrel Old Country Store, Inc.

     2,945        245,083  

Dine Brands Global, Inc.

     2,124        60,916  

Las Vegas Sands Corp.

     64,452        2,737,276  

Wyndham Destinations, Inc.

     6,520        141,484  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     3,365,205  
Household Durables – 0.2%

 

Ethan Allen Interiors, Inc.

     2,907        29,710  

Leggett & Platt, Inc.

     7,809        208,344  

MDC Holdings, Inc.

     3,885        90,132  

Whirlpool Corp.

     11,390        977,262  
     

 

 

 
Total Household Durables

 

     1,305,448  
Household Products – 0.4%

 

Kimberly-Clark Corp.

     19,390        2,479,399  
Independent Power & Renewable Electricity Producers – 0.3%

 

AES Corp.

     106,859        1,453,283  

Clearway Energy, Inc. Class A

     3,820        65,589  

TerraForm Power, Inc. Class A

     22,918        361,417  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     1,880,289  
Industrial Conglomerates – 0.7%

 

3M Co.

     36,812        5,025,206  
Insurance – 2.0%

 

CNA Financial Corp.(a)

     31,876        989,431  

Donegal Group, Inc. Class A

     3,001        45,615  

FBL Financial Group, Inc. Class A

     1,789        83,493  

Mercury General Corp.

     15,971        650,339  

MetLife, Inc.

     181,619        5,552,093  

Old Republic International Corp.

     61,234        933,819  

Principal Financial Group, Inc.

     42,229        1,323,457  

Prudential Financial, Inc.

     64,109        3,342,643  

Safety Insurance Group, Inc.

     2,098        177,134  

Unum Group

     43,113        647,126  
     

 

 

 
Total Insurance

 

     13,745,150  
IT Services – 4.7%

 

International Business Machines Corp.

     241,426        26,781,386  

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Paychex, Inc.

     58,740      $ 3,695,921  

Western Union Co. (The)

     68,658        1,244,770  
     

 

 

 
Total IT Services

 

     31,722,077  
Leisure Products – 0.0%

 

Marine Products Corp.

     985        7,959  
Machinery – 0.5%

 

Cummins, Inc.

     24,801        3,356,071  
Media – 0.5%

 

Interpublic Group of Cos., Inc. (The)

     88,226        1,428,379  

National CineMedia, Inc.

     27,982        91,221  

Omnicom Group, Inc.(a)

     38,993        2,140,716  
     

 

 

 
Total Media

 

     3,660,316  
Metals & Mining – 0.0%

 

Schnitzer Steel Industries, Inc. Class A

     1,606        20,942  
Multi-Utilities – 3.2%

 

Avista Corp.

     4,480        190,355  

CenterPoint Energy, Inc.

     41,853        646,629  

Consolidated Edison, Inc.

     63,049        4,917,822  

Dominion Energy, Inc.

     70,399        5,082,104  

DTE Energy Co.

     23,473        2,229,231  

MDU Resources Group, Inc.

     31,841        684,581  

NiSource, Inc.

     62,947        1,571,787  

NorthWestern Corp.

     9,225        551,932  

Public Service Enterprise Group, Inc.

     91,245        4,097,813  

WEC Energy Group, Inc.

     16,970        1,495,566  
     

 

 

 
Total Multi-Utilities

 

     21,467,820  
Multiline Retail – 0.0%

 

Big Lots, Inc.

     3,179        45,205  

Kohl’s Corp.

     16,503        240,779  
     

 

 

 
Total Multiline Retail

 

     285,984  
Oil, Gas & Consumable Fuels – 7.9%

 

Amplify Energy Corp.

     14,856        8,407  

Berry Corp.(a)

     10,096        24,331  

Chevron Corp.

     287,222        20,812,106  

CVR Energy, Inc.

     28,692        474,279  

Delek U.S. Holdings, Inc.(a)

     9,941        156,670  

Exxon Mobil Corp.

     400,380        15,202,429  

Falcon Minerals Corp.

     20,201        43,432  

Kinder Morgan, Inc.

     422,565        5,882,105  

Marathon Petroleum Corp.

     88,791        2,097,244  

Murphy Oil Corp.(a)

     11,470        70,311  

Peabody Energy Corp.

     10,199        29,577  

Phillips 66

     79,666        4,274,081  

Valero Energy Corp.

     59,509        2,699,328  

Williams Cos., Inc. (The)

     153,299        2,169,181  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     53,943,481  
Paper & Forest Products – 0.1%

 

Domtar Corp.

     10,335        223,649  

Schweitzer-Mauduit International, Inc.

     4,644        129,196  
     

 

 

 
Total Paper & Forest Products

 

     352,845  
Personal Products – 0.0%

 

Medifast, Inc.

     2,141      133,812  

Nu Skin Enterprises, Inc. Class A

     3,887        84,931  
     

 

 

 
Total Personal Products

 

     218,743  
Pharmaceuticals – 8.7%

 

Bristol-Myers Squibb Co.

     372,834        20,781,767  

Pfizer, Inc.

     1,173,735        38,310,711  
     

 

 

 
Total Pharmaceuticals

 

     59,092,478  
Professional Services – 0.0%

 

BG Staffing, Inc.

     2,971        22,223  

Resources Connection, Inc.

     4,901        53,764  
     

 

 

 
Total Professional Services

 

     75,987  
Real Estate Management & Development – 0.0%

 

Kennedy-Wilson Holdings, Inc.

     10,683        143,366  

Newmark Group, Inc. Class A

     27,486        116,815  

RMR Group, Inc. (The) Class A

     1,850        49,895  
     

 

 

 
Total Real Estate Management & Development

 

     310,076  
Road & Rail – 0.0%

 

Ryder System, Inc.

     4,429        117,103  
Semiconductors & Semiconductor Equipment – 5.3%

 

Broadcom, Inc.

     50,198        11,901,946  

Maxim Integrated Products, Inc.

     33,000        1,604,130  

QUALCOMM, Inc.

     182,111        12,319,809  

Texas Instruments, Inc.

     100,074        10,000,395  

Xperi Corp.

     7,449        103,615  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     35,929,895  
Specialty Retail – 0.2%

 

Abercrombie & Fitch Co. Class A

     5,304        48,213  

American Eagle Outfitters, Inc.

     11,885        94,486  

Cato Corp. (The) Class A

     7,325        78,158  

Foot Locker, Inc.

     8,116        178,958  

Haverty Furniture Cos., Inc.

     1,838        21,854  

L Brands, Inc.(a)

     34,829        402,623  

Penske Automotive Group, Inc.

     4,944        138,432  

Rent-A-Center, Inc.

     12,432        175,788  
     

 

 

 
Total Specialty Retail

 

     1,138,512  
Technology Hardware, Storage & Peripherals – 0.9%

 

Hewlett Packard Enterprise Co.

     144,499        1,403,085  

HP, Inc.

     193,070        3,351,695  

NetApp, Inc.

     25,762        1,074,018  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     5,828,798  
Textiles, Apparel & Luxury Goods – 0.1%

 

Hanesbrands, Inc.(a)

     56,471        444,427  
Thrifts & Mortgage Finance – 0.0%

 

Federal Agricultural Mortgage Corp. Class C

     759        42,223  

Provident Financial Services, Inc.

     6,216        79,938  

Territorial Bancorp, Inc.

     1,921        47,160  
     

 

 

 
Total Thrifts & Mortgage Finance

 

     169,321  
Tobacco – 6.2%

 

Altria Group, Inc.

     471,111        18,217,863  

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Philip Morris International, Inc.

     323,717      $ 23,618,392  

Universal Corp.

     5,096        225,294  

Vector Group Ltd.

     43,886        413,406  
     

 

 

 
Total Tobacco

 

     42,474,955  
Trading Companies & Distributors – 0.1%

 

H&E Equipment Services, Inc.

     4,664        68,468  

MSC Industrial Direct Co., Inc. Class A

     6,787        373,081  

Watsco, Inc.(a)

     2,286        361,257  
     

 

 

 
Total Trading Companies & Distributors

 

     802,806  
Transportation Infrastructure – 0.1%

 

Macquarie Infrastructure Corp.

     15,122        381,831  
Wireless Telecommunication Services – 0.0%

 

Spok Holdings, Inc.

     2,568        27,452  

TOTAL COMMON STOCKS

(Cost: $840,477,372)

              674,411,044  
EXCHANGE-TRADED FUND – 0.5%

 

United States – 0.5%

 

WisdomTree U.S. Total Dividend Fund(b)
(Cost: $2,650,662)
     38,404      3,007,801  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.6%

 

United States – 0.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $4,030,316)      4,030,316        4,030,316  

TOTAL INVESTMENTS IN SECURITIES – 100.4%

(Cost: $847,158,350)

 

 

     681,449,161  

Other Assets less Liabilities – (0.4)%

 

     (2,513,989
     

 

 

 
NET ASSETS – 100.0%

 

   $ 678,935,172  

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $7,407,903 and the total market value of the collateral held by the Fund was $7,649,800. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $3,619,484.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. Total Dividend Fund

  $ 6,952,088     $ 34,425,332     $ 39,110,065     $ 952,976     $ (212,530   $ 3,007,801     $ 135,685  

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Table of Contents

Schedule of Investments

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.5%

 

United States – 99.5%

 

Aerospace & Defense – 1.9%

 

General Dynamics Corp.

     31,900      $ 4,220,689  

L3Harris Technologies, Inc.

     17,572        3,165,069  

Lockheed Martin Corp.

     36,611        12,409,298  

Northrop Grumman Corp.

     14,047        4,249,920  

Raytheon Co.

     26,554        3,482,557  

United Technologies Corp.

     89,120        8,406,690  
     

 

 

 
Total Aerospace & Defense

 

     35,934,223  
Air Freight & Logistics – 0.7%

 

FedEx Corp.

     21,059        2,553,614  

United Parcel Service, Inc. Class B

     113,773        10,628,674  
     

 

 

 
Total Air Freight & Logistics

 

     13,182,288  
Airlines – 0.1%

 

Southwest Airlines Co.

     34,360        1,223,560  
Automobiles – 0.3%

 

General Motors Co.

     300,903        6,252,764  
Banks – 6.8%

 

Bank of America Corp.

     963,295        20,450,753  

Citigroup, Inc.

     300,668        12,664,136  

Citizens Financial Group, Inc.

     75,167        1,413,891  

Fifth Third Bancorp

     95,692        1,421,026  

First Republic Bank

     5,809        477,965  

Huntington Bancshares, Inc.

     197,793        1,623,881  

JPMorgan Chase & Co.

     421,136        37,914,874  

KeyCorp

     182,303        1,890,482  

M&T Bank Corp.(a)

     16,288        1,684,668  

PNC Financial Services Group, Inc. (The)

     64,947        6,216,727  

Regions Financial Corp.(a)

     168,699        1,513,230  

Truist Financial Corp.

     222,354        6,857,397  

U.S. Bancorp

     224,101        7,720,279  

Wells Fargo & Co.

     818,578        23,493,189  
     

 

 

 
Total Banks

 

     125,342,498  
Beverages – 3.1%

 

Brown-Forman Corp. Class B(a)

     11,892        660,125  

Coca-Cola Co. (The)

     639,488        28,297,344  

Constellation Brands, Inc. Class A

     13,155        1,885,901  

Keurig Dr. Pepper, Inc.

     142,985        3,470,246  

PepsiCo, Inc.

     198,338        23,820,393  
     

 

 

 
Total Beverages

 

     58,134,009  
Biotechnology – 3.5%

 

AbbVie, Inc.

     405,504        30,895,350  

Amgen, Inc.

     75,490        15,304,088  

Gilead Sciences, Inc.

     246,207        18,406,435  
     

 

 

 
Total Biotechnology

 

     64,605,873  
Capital Markets – 3.4%

 

Ameriprise Financial, Inc.

     17,652        1,808,977  

Bank of New York Mellon Corp. (The)

     107,674        3,626,460  

BlackRock, Inc.

     21,571        9,490,593  

Blackstone Group, Inc. (The) Class A

     121,731        5,547,282  

Charles Schwab Corp. (The)

     81,951      2,755,192  

CME Group, Inc.

     25,270        4,369,436  

Goldman Sachs Group, Inc. (The)

     38,493        5,950,633  

Intercontinental Exchange, Inc.

     32,248        2,604,026  

KKR & Co., Inc. Class A

     48,632        1,141,393  

MarketAxess Holdings, Inc.

     1,089        362,169  

Moody’s Corp.

     10,127        2,141,860  

Morgan Stanley

     229,746        7,811,364  

MSCI, Inc.

     6,058        1,750,520  

Nasdaq, Inc.(a)

     14,591        1,385,415  

Northern Trust Corp.(a)

     28,321        2,137,103  

S&P Global, Inc.

     12,118        2,969,516  

State Street Corp.

     50,748        2,703,346  

T. Rowe Price Group, Inc.

     28,601        2,792,888  

TD Ameritrade Holding Corp.

     61,306        2,124,866  
     

 

 

 
Total Capital Markets

 

     63,473,039  
Chemicals – 1.2%

 

Air Products & Chemicals, Inc.

     24,454        4,881,263  

Celanese Corp.

     14,524        1,065,917  

Corteva, Inc.

     75,302        1,769,597  

Dow, Inc.

     200,368        5,858,760  

DuPont de Nemours, Inc.

     62,080        2,116,928  

Ecolab, Inc.

     13,890        2,164,479  

International Flavors & Fragrances, Inc.

     11,676        1,191,886  

PPG Industries, Inc.

     21,870        1,828,332  

Sherwin-Williams Co. (The)

     3,691        1,696,088  
     

 

 

 
Total Chemicals

 

     22,573,250  
Commercial Services & Supplies – 0.4%

 

Cintas Corp.

     5,659        980,252  

Republic Services, Inc.

     31,325        2,351,255  

Waste Management, Inc.

     38,929        3,603,268  
     

 

 

 
Total Commercial Services & Supplies

 

     6,934,775  
Communications Equipment – 1.5%

 

Cisco Systems, Inc.

     665,599        26,164,697  

Motorola Solutions, Inc.

     13,912        1,849,183  
     

 

 

 
Total Communications Equipment

 

     28,013,880  
Construction Materials – 0.0%

 

Martin Marietta Materials, Inc.(a)

     793        150,059  

Vulcan Materials Co.

     5,897        637,289  
     

 

 

 
Total Construction Materials

 

     787,348  
Consumer Finance – 0.5%

 

American Express Co.

     58,161        4,979,163  

Capital One Financial Corp.

     40,599        2,047,002  

Discover Financial Services

     32,454        1,157,634  

Synchrony Financial(a)

     88,859        1,429,741  
     

 

 

 
Total Consumer Finance

 

     9,613,540  
Containers & Packaging – 0.2%

 

Ball Corp.

     13,608        879,893  

International Paper Co.

     86,808        2,702,333  
     

 

 

 
Total Containers & Packaging

 

     3,582,226  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2020

 

 

 

Investments    Shares      Value  
Distributors – 0.1%

 

Genuine Parts Co.

     16,748      $ 1,127,643  
Diversified Telecommunication Services – 5.8%

 

AT&T, Inc.

     1,992,705        58,087,351  

CenturyLink, Inc.

     409,973        3,878,344  

Verizon Communications, Inc.

     853,674        45,867,904  
     

 

 

 
Total Diversified Telecommunication Services

 

     107,833,599  
Electric Utilities – 4.1%

 

American Electric Power Co., Inc.

     73,680        5,892,926  

Avangrid, Inc.

     63,248        2,768,997  

Duke Energy Corp.

     155,894        12,608,707  

Edison International

     57,628        3,157,438  

Entergy Corp.

     34,547        3,246,382  

Evergy, Inc.

     37,915        2,087,221  

Eversource Energy

     42,179        3,298,820  

Exelon Corp.

     166,085        6,113,589  

FirstEnergy Corp.

     89,958        3,604,617  

NextEra Energy, Inc.

     53,222        12,806,278  

PPL Corp.

     167,292        4,128,766  

Southern Co. (The)

     223,411        12,095,471  

Xcel Energy, Inc.

     66,912        4,034,794  
     

 

 

 
Total Electric Utilities

 

     75,844,006  
Electrical Equipment – 0.4%

 

AMETEK, Inc.

     7,784        560,604  

Emerson Electric Co.

     84,236        4,013,845  

Rockwell Automation, Inc.

     14,020        2,115,758  
     

 

 

 
Total Electrical Equipment

 

     6,690,207  
Electronic Equipment, Instruments & Components – 0.2%

 

Amphenol Corp. Class A

     16,553        1,206,383  

CDW Corp.(a)

     8,284        772,649  

Corning, Inc.

     93,793        1,926,508  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     3,905,540  
Energy Equipment & Services – 0.1%

 

Baker Hughes Co.

     99,842        1,048,341  

Halliburton Co.

     135,345        927,113  
     

 

 

 
Total Energy Equipment & Services

 

     1,975,454  
Entertainment – 0.7%

 

Activision Blizzard, Inc.

     26,675        1,586,629  

Walt Disney Co. (The)

     112,630        10,880,058  
     

 

 

 
Total Entertainment

 

     12,466,687  
Equity Real Estate Investment Trusts (REITs) – 4.6%

 

Alexandria Real Estate Equities, Inc.

     13,192        1,808,095  

American Tower Corp.

     39,944        8,697,806  

AvalonBay Communities, Inc.

     20,407        3,003,298  

Boston Properties, Inc.

     25,264        2,330,099  

Crown Castle International Corp.

     75,868        10,955,339  

Digital Realty Trust, Inc.(a)

     41,260        5,731,427  

Equinix, Inc.

     7,663        4,786,080  

Equity Residential

     48,222        2,975,780  

Essex Property Trust, Inc.

     8,419        1,854,200  

Healthpeak Properties, Inc.

     117,767        2,808,743  

Invitation Homes, Inc.

     50,082      1,070,252  

Mid-America Apartment Communities, Inc.

     17,340        1,786,540  

Prologis, Inc.

     81,421        6,543,806  

Public Storage

     35,201        6,991,271  

Realty Income Corp.

     57,734        2,878,617  

SBA Communications Corp.

     2,927        790,202  

Simon Property Group, Inc.

     93,244        5,115,366  

Sun Communities, Inc.

     9,133        1,140,255  

UDR, Inc.

     43,712        1,597,236  

Ventas, Inc.

     113,117        3,031,536  

W.P. Carey, Inc.

     44,346        2,575,616  

Welltower, Inc.

     90,140        4,126,609  

Weyerhaeuser Co.

     156,683        2,655,777  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     85,253,950  
Food & Staples Retailing – 2.6%

 

Costco Wholesale Corp.

     21,495        6,128,869  

Kroger Co. (The)

     91,390        2,752,667  

Sysco Corp.

     58,555        2,671,865  

Walgreens Boots Alliance, Inc.

     142,331        6,511,643  

Walmart, Inc.

     257,082        29,209,657  
     

 

 

 
Total Food & Staples Retailing

 

     47,274,701  
Food Products – 2.1%

 

Archer-Daniels-Midland Co.

     87,626        3,082,683  

Conagra Brands, Inc.(a)

     76,515        2,244,950  

General Mills, Inc.

     115,896        6,115,832  

Hershey Co. (The)

     18,875        2,500,937  

Hormel Foods Corp.

     52,149        2,432,229  

Kellogg Co.

     60,327        3,619,017  

Kraft Heinz Co. (The)

     319,270        7,898,740  

McCormick & Co., Inc. Non-Voting Shares

     9,417        1,329,775  

Mondelez International, Inc. Class A

     153,024        7,663,442  

Tyson Foods, Inc. Class A

     33,837        1,958,147  
     

 

 

 
Total Food Products

 

     38,845,752  
Health Care Equipment & Supplies – 1.3%

 

Abbott Laboratories

     133,236        10,513,653  

Baxter International, Inc.

     27,393        2,224,038  

Becton, Dickinson and Co.

     15,115        3,472,973  

Danaher Corp.

     16,572        2,293,730  

ResMed, Inc.

     10,101        1,487,776  

Stryker Corp.

     21,716        3,615,497  

Zimmer Biomet Holdings, Inc.

     8,459        855,036  
     

 

 

 
Total Health Care Equipment & Supplies

 

     24,462,703  
Health Care Providers & Services – 2.3%

 

AmerisourceBergen Corp.

     19,901        1,761,238  

Anthem, Inc.

     14,250        3,235,320  

Cardinal Health, Inc.

     53,323        2,556,305  

Cigna Corp.

     366        64,848  

CVS Health Corp.

     177,260        10,516,836  

HCA Healthcare, Inc.

     19,942        1,791,789  

Humana, Inc.

     4,520        1,419,370  

McKesson Corp.

     10,792        1,459,726  

Quest Diagnostics, Inc.

     13,350        1,072,005  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2020

 

 

 

Investments    Shares      Value  

UnitedHealth Group, Inc.

     72,393      $ 18,053,366  
     

 

 

 
Total Health Care Providers & Services

 

     41,930,803  
Health Care Technology – 0.1%

 

Cerner Corp.

     16,173        1,018,737  
Hotels, Restaurants & Leisure – 1.8%

 

Las Vegas Sands Corp.

     179,817        7,636,828  

McDonald’s Corp.

     97,016        16,041,595  

MGM Resorts International(a)

     27,195        320,901  

Starbucks Corp.

     115,623        7,601,056  

Yum! Brands, Inc.

     22,726        1,557,413  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     33,157,793  
Household Durables – 0.1%

 

D.R. Horton, Inc.

     25,137        854,658  

Lennar Corp. Class A

     4,434        169,379  
     

 

 

 
Total Household Durables

 

     1,024,037  
Household Products – 2.8%

 

Church & Dwight Co., Inc.

     13,465        864,184  

Clorox Co. (The)

     17,464        3,025,638  

Colgate-Palmolive Co.

     110,042        7,302,387  

Kimberly-Clark Corp.

     52,455        6,707,421  

Procter & Gamble Co. (The)

     303,175        33,349,250  
     

 

 

 
Total Household Products

 

     51,248,880  
Industrial Conglomerates – 1.4%

 

3M Co.

     99,690        13,608,682  

General Electric Co.

     155,243        1,232,629  

Honeywell International, Inc.

     76,050        10,174,730  

Roper Technologies, Inc.

     3,589        1,119,086  
     

 

 

 
Total Industrial Conglomerates

 

     26,135,127  
Insurance – 1.7%

 

Aflac, Inc.

     78,580        2,690,579  

Allstate Corp. (The)

     34,142        3,131,846  

American International Group, Inc.

     99,874        2,421,945  

Arthur J. Gallagher & Co.

     14,615        1,191,269  

Cincinnati Financial Corp.(a)

     18,472        1,393,712  

Hartford Financial Services Group, Inc. (The)

     43,552        1,534,772  

Loews Corp.

     4,442        154,715  

Marsh & McLennan Cos., Inc.

     46,229        3,996,959  

MetLife, Inc.

     171,656        5,247,524  

Principal Financial Group, Inc.(a)

     49,459        1,550,045  

Progressive Corp. (The)

     23,049        1,701,938  

Prudential Financial, Inc.

     84,287        4,394,724  

Travelers Cos., Inc. (The)

     29,519        2,932,713  
     

 

 

 
Total Insurance

 

     32,342,741  
Internet & Direct Marketing Retail – 0.1%

 

eBay, Inc.

     64,780        1,947,287  

Expedia Group, Inc.

     7,815        439,750  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     2,387,037  
IT Services – 3.1%

 

Automatic Data Processing, Inc.

     46,589        6,367,785  

Broadridge Financial Solutions, Inc.

     10,663        1,011,172  

Cognizant Technology Solutions Corp. Class A

     36,476      1,695,040  

Fidelity National Information Services, Inc.

     31,747        3,861,705  

Global Payments, Inc.

     6,788        979,033  

International Business Machines Corp.

     217,104        24,083,347  

MasterCard, Inc. Class A

     27,538        6,652,079  

Paychex, Inc.

     53,946        3,394,282  

Visa, Inc. Class A(a)

     58,596        9,440,988  
     

 

 

 
Total IT Services

 

     57,485,431  
Life Sciences Tools & Services – 0.1%

 

Agilent Technologies, Inc.

     15,294        1,095,356  

Thermo Fisher Scientific, Inc.

     6,023        1,708,123  
     

 

 

 
Total Life Sciences Tools & Services

 

     2,803,479  
Machinery – 1.6%

 

Caterpillar, Inc.

     79,916        9,273,453  

Cummins, Inc.

     24,463        3,310,333  

Deere & Co.

     26,071        3,601,969  

Dover Corp.

     16,816        1,411,535  

Fortive Corp.

     7,135        393,781  

Illinois Tool Works, Inc.

     41,858        5,948,859  

PACCAR, Inc.

     33,049        2,020,285  

Parker-Hannifin Corp.

     12,506        1,622,404  

Stanley Black & Decker, Inc.

     15,217        1,521,700  
     

 

 

 
Total Machinery

 

     29,104,319  
Media – 1.0%

 

Comcast Corp. Class A

     444,423        15,279,263  

Fox Corp. Class A(a)

     19,786        467,543  

Omnicom Group, Inc.(a)

     30,931        1,698,112  

Sirius XM Holdings, Inc.(a)

     158,707        784,012  

ViacomCBS, Inc. Class B

     75,400        1,056,354  
     

 

 

 
Total Media

 

     19,285,284  
Metals & Mining – 0.2%

 

Newmont Corp.

     53,668        2,430,087  

Nucor Corp.

     34,997        1,260,592  
     

 

 

 
Total Metals & Mining

 

     3,690,679  
Multi-Utilities – 2.0%

 

Ameren Corp.

     30,809        2,243,819  

CMS Energy Corp.

     33,890        1,991,038  

Consolidated Edison, Inc.

     53,918        4,205,604  

Dominion Energy, Inc.

     187,071        13,504,655  

DTE Energy Co.

     30,748        2,920,138  

Public Service Enterprise Group, Inc.

     79,403        3,565,989  

Sempra Energy

     38,124        4,307,631  

WEC Energy Group, Inc.

     42,865        3,777,692  
     

 

 

 
Total Multi-Utilities

 

     36,516,566  
Multiline Retail – 0.4%

 

Dollar General Corp.

     13,477        2,035,162  

Target Corp.

     56,927        5,292,503  
     

 

 

 
Total Multiline Retail

 

     7,327,665  
Oil, Gas & Consumable Fuels – 5.9%

 

Chevron Corp.

     389,396        28,215,634  

Concho Resources, Inc.

     9,590        410,932  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2020

 

 

 

Investments    Shares      Value  

ConocoPhillips

     146,193      $ 4,502,744  

EOG Resources, Inc.

     47,101        1,691,868  

Exxon Mobil Corp.

     1,085,268        41,207,626  

Hess Corp.

     23,369        778,188  

Kinder Morgan, Inc.

     561,345        7,813,922  

Marathon Petroleum Corp.

     117,468        2,774,594  

Occidental Petroleum Corp.

     386,768        4,478,773  

ONEOK, Inc.

     107,893        2,353,146  

Phillips 66

     75,653        4,058,783  

Pioneer Natural Resources Co.

     11,237        788,276  

Valero Energy Corp.

     83,710        3,797,086  

Williams Cos., Inc. (The)

     411,570        5,823,716  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     108,695,288  
Personal Products – 0.1%

 

Estee Lauder Cos., Inc. (The) Class A

     12,953        2,063,931  
Pharmaceuticals – 7.8%

 

Bristol-Myers Squibb Co.

     338,039        18,842,294  

Eli Lilly & Co.

     104,384        14,480,148  

Johnson & Johnson

     360,938        47,329,800  

Merck & Co., Inc.

     353,583        27,204,676  

Pfizer, Inc.

     1,060,916        34,628,298  

Zoetis, Inc.

     12,523        1,473,832  
     

 

 

 
Total Pharmaceuticals

 

     143,959,048  
Professional Services – 0.1%

 

Equifax, Inc.

     6,844        817,516  

Verisk Analytics, Inc.

     5,514        768,541  
     

 

 

 
Total Professional Services

 

     1,586,057  
Road & Rail – 1.0%

 

CSX Corp.

     52,941        3,033,519  

Kansas City Southern

     5,426        690,079  

Norfolk Southern Corp.

     25,536        3,728,256  

Union Pacific Corp.

     76,430        10,779,687  
     

 

 

 
Total Road & Rail

 

     18,231,541  
Semiconductors & Semiconductor Equipment – 4.8%

 

Analog Devices, Inc.

     37,437        3,356,227  

Applied Materials, Inc.

     73,484        3,367,037  

Broadcom, Inc.

     68,052        16,135,129  

Intel Corp.

     485,408        26,270,281  

KLA Corp.

     18,597        2,673,133  

Lam Research Corp.

     13,670        3,280,800  

Maxim Integrated Products, Inc.

     44,724        2,174,034  

Microchip Technology, Inc.(a)

     21,980        1,490,244  

NVIDIA Corp.

     8,813        2,323,107  

QUALCOMM, Inc.

     168,391        11,391,651  

Skyworks Solutions, Inc.

     15,376        1,374,307  

Texas Instruments, Inc.

     134,706        13,461,170  

Xilinx, Inc.

     19,107        1,489,199  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     88,786,319  
Software – 5.4%

 

Citrix Systems, Inc.

     9,453        1,338,072  

Intuit, Inc.

     11,244        2,586,120  

Microsoft Corp.

     513,814      81,033,606  

NortonLifeLock, Inc.

     47,651        891,550  

Oracle Corp.

     293,635        14,191,380  

SS&C Technologies Holdings, Inc.

     4,357        190,924  
     

 

 

 
Total Software

 

     100,231,652  
Specialty Retail – 2.3%

 

Best Buy Co., Inc.

     36,982        2,107,974  

Home Depot, Inc. (The)

     140,033        26,145,561  

Lowe’s Cos., Inc.

     76,305        6,566,045  

Ross Stores, Inc.

     19,166        1,666,867  

Tiffany & Co.

     7,966        1,031,597  

TJX Cos., Inc. (The)

     98,959        4,731,230  
     

 

 

 
Total Specialty Retail

 

     42,249,274  
Technology Hardware, Storage & Peripherals – 4.0%

 

Apple, Inc.

     254,457        64,705,870  

Hewlett Packard Enterprise Co.

     189,460        1,839,657  

HP, Inc.

     244,630        4,246,777  

Western Digital Corp.

     55,339        2,303,209  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     73,095,513  
Textiles, Apparel & Luxury Goods – 0.4%

 

NIKE, Inc. Class B

     67,896        5,617,715  

VF Corp.

     46,638        2,522,183  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     8,139,898  
Tobacco – 3.1%

 

Altria Group, Inc.

     640,517        24,768,793  

Philip Morris International, Inc.

     440,096        32,109,404  
     

 

 

 
Total Tobacco

 

     56,878,197  
Trading Companies & Distributors – 0.2%

 

Fastenal Co.

     75,336        2,354,250  

W.W. Grainger, Inc.

     3,419        849,622  
     

 

 

 
Total Trading Companies & Distributors

 

     3,203,872  
Water Utilities – 0.1%

 

American Water Works Co., Inc.

     16,271        1,945,361  

TOTAL COMMON STOCKS

(Cost: $1,864,068,786)

              1,839,858,044  
EXCHANGE-TRADED FUND – 0.3%

 

United States – 0.3%

 

WisdomTree U.S. Total Dividend Fund(a)(b)
(Cost: $7,083,067)
     70,047        5,486,081  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.3%

 

United States – 0.3%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $5,974,959)      5,974,959        5,974,959  

TOTAL INVESTMENTS IN SECURITIES – 100.1%

(Cost: $1,877,126,812)

 

 

     1,851,319,084  

Other Assets less Liabilities – (0.1)%

 

     (1,625,835
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,849,693,249  

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2020

 

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $22,452,798 and the total market value of the collateral held by the Fund was $23,228,427. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $17,253,468.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

    

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. Total Dividend Fund

  $ 7,208,819     $ 32,772,790     $ 33,558,963     $ 929,626     $ (1,866,191   $ 5,486,081     $ 181,733  

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.8%

 

Aerospace & Defense – 2.1%

 

Arconic, Inc.

     9,503      $ 152,618  

Boeing Co. (The)

     3,065        457,114  

General Dynamics Corp.

     6,755        893,754  

HEICO Corp.

     862        64,314  

Huntington Ingalls Industries, Inc.

     819        149,230  

L3Harris Technologies, Inc.

     1,270        228,752  

Lockheed Martin Corp.

     5,936        2,012,007  

Northrop Grumman Corp.

     2,373        717,951  

Raytheon Co.

     6,118        802,376  

Spirit AeroSystems Holdings, Inc. Class A

     3,209        76,791  

Teledyne Technologies, Inc.*

     399        118,611  

Textron, Inc.

     6,594        175,862  

TransDigm Group, Inc.

     636        203,641  

United Technologies Corp.

     12,075        1,139,035  
     

 

 

 
Total Aerospace & Defense

 

     7,192,056  
Air Freight & Logistics – 0.8%

 

C.H. Robinson Worldwide, Inc.

     3,345        221,439  

Expeditors International of Washington, Inc.

     3,074        205,097  

FedEx Corp.

     7,491        908,359  

United Parcel Service, Inc. Class B

     16,497        1,541,150  
     

 

 

 
Total Air Freight & Logistics

 

     2,876,045  
Airlines – 0.6%

 

American Airlines Group, Inc.(a)

     25,723        313,564  

Delta Air Lines, Inc.

     29,328        836,728  

Southwest Airlines Co.

     16,456        585,998  

United Airlines Holdings, Inc.*

     12,564        396,394  
     

 

 

 
Total Airlines

 

     2,132,684  
Automobiles – 0.5%

 

Ford Motor Co.

     56,591        273,335  

General Motors Co.

     67,867        1,410,276  
     

 

 

 
Total Automobiles

 

     1,683,611  
Banks – 7.8%

 

Bank of America Corp.

     266,305        5,653,655  

Citigroup, Inc.

     81,270        3,423,092  

Citizens Financial Group, Inc.

     14,604        274,701  

Comerica, Inc.

     6,460        189,536  

Fifth Third Bancorp

     24,966        370,745  

First Republic Bank

     2,757        226,846  

Huntington Bancshares, Inc.

     30,274        248,550  

JPMorgan Chase & Co.

     88,379        7,956,761  

KeyCorp

     29,437        305,262  

M&T Bank Corp.

     3,981        411,755  

PNC Financial Services Group, Inc. (The)

     11,151        1,067,374  

Regions Financial Corp.

     34,518        309,627  

SVB Financial Group*

     1,628        245,958  

Truist Financial Corp.

     20,328        626,916  

U.S. Bancorp

     40,412        1,392,193  

Wells Fargo & Co.

     134,208        3,851,770  
     

 

 

 
Total Banks

 

     26,554,741  
Beverages – 1.8%

 

Brown-Forman Corp. Class B

     4,567      253,514  

Coca-Cola Co. (The)

     60,697        2,685,842  

Keurig Dr. Pepper, Inc.

     12,820        311,142  

Molson Coors Beverage Co. Class B

     5,296        206,597  

Monster Beverage Corp.*

     6,432        361,864  

PepsiCo, Inc.

     18,562        2,229,296  
     

 

 

 
Total Beverages

 

     6,048,255  
Biotechnology – 2.7%

 

AbbVie, Inc.

     24,327        1,853,474  

Alexion Pharmaceuticals, Inc.*

     4,702        422,192  

Amgen, Inc.

     11,948        2,422,218  

Biogen, Inc.*

     6,785        2,146,638  

Gilead Sciences, Inc.

     14,488        1,083,123  

Incyte Corp.*

     1,215        88,974  

Ionis Pharmaceuticals, Inc.*

     446        21,087  

Neurocrine Biosciences, Inc.*

     323        27,956  

Regeneron Pharmaceuticals, Inc.*

     1,751        854,996  

Vertex Pharmaceuticals, Inc.*

     1,386        329,799  
     

 

 

 
Total Biotechnology

 

     9,250,457  
Building Products – 0.1%

 

Fortune Brands Home & Security, Inc.

     2,653        114,742  

Lennox International, Inc.

     504        91,622  

Masco Corp.

     5,913        204,413  
     

 

 

 
Total Building Products

 

     410,777  
Capital Markets – 4.0%

 

Ameriprise Financial, Inc.

     4,436        454,601  

Bank of New York Mellon Corp. (The)

     26,249        884,066  

BlackRock, Inc.

     3,113        1,369,627  

CBOE Global Markets, Inc.

     1,411        125,932  

Charles Schwab Corp. (The)

     26,287        883,769  

CME Group, Inc.

     3,438        594,464  

E*TRADE Financial Corp.

     8,047        276,173  

FactSet Research Systems, Inc.

     435        113,396  

Franklin Resources, Inc.

     17,353        289,621  

Goldman Sachs Group, Inc. (The)

     13,507        2,088,047  

Intercontinental Exchange, Inc.

     7,897        637,683  

MarketAxess Holdings, Inc.

     219        72,833  

Moody’s Corp.

     2,250        475,875  

Morgan Stanley

     55,196        1,876,664  

MSCI, Inc.

     724        209,207  

Nasdaq, Inc.

     2,737        259,878  

Northern Trust Corp.

     5,022        378,960  

Raymond James Financial, Inc.

     4,308        272,266  

S&P Global, Inc.

     2,925        716,771  

SEI Investments Co.

     2,635        122,106  

State Street Corp.

     10,025        534,032  

T. Rowe Price Group, Inc.

     5,706        557,191  

TD Ameritrade Holding Corp.

     15,023        520,697  
     

 

 

 
Total Capital Markets

 

     13,713,859  
Chemicals – 1.3%

 

Air Products & Chemicals, Inc.

     2,746        548,129  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Celanese Corp.

     2,754      $ 202,116  

CF Industries Holdings, Inc.

     3,868        105,209  

Dow, Inc.

     31,724        927,610  

DuPont de Nemours, Inc.

     19,443        663,006  

Eastman Chemical Co.

     3,958        184,364  

Ecolab, Inc.

     3,161        492,579  

FMC Corp.

     2,607        212,966  

International Flavors & Fragrances, Inc.

     1,161        118,515  

PPG Industries, Inc.

     3,808        318,349  

RPM International, Inc.

     1,720        102,340  

Sherwin-Williams Co. (The)

     952        437,463  

Westlake Chemical Corp.

     2,806        107,105  
     

 

 

 
Total Chemicals

 

     4,419,751  
Commercial Services & Supplies – 0.4%

 

Cintas Corp.

     1,173        203,187  

Copart, Inc.*

     2,458        168,422  

Republic Services, Inc.

     4,222        316,903  

Rollins, Inc.

     2,639        95,374  

Waste Management, Inc.

     5,889        545,086  
     

 

 

 
Total Commercial Services & Supplies

 

     1,328,972  
Communications Equipment – 1.4%

 

Arista Networks, Inc.*

     1,364        276,278  

Cisco Systems, Inc.

     96,233        3,782,919  

F5 Networks, Inc.*

     1,123        119,746  

Motorola Solutions, Inc.

     2,374        315,552  

Ubiquiti, Inc.(a)

     808        114,397  
     

 

 

 
Total Communications Equipment

 

     4,608,892  
Construction & Engineering – 0.1%

 

Jacobs Engineering Group, Inc.

     2,243        177,803  
Construction Materials – 0.1%

 

Martin Marietta Materials, Inc.

     718        135,867  

Vulcan Materials Co.

     1,522        164,483  
     

 

 

 
Total Construction Materials

 

     300,350  
Consumer Finance – 1.1%

 

Ally Financial, Inc.

     16,275        234,848  

American Express Co.

     19,070        1,632,583  

Capital One Financial Corp.

     17,562        885,476  

Discover Financial Services

     12,046        429,681  

Synchrony Financial

     36,054        580,109  
     

 

 

 
Total Consumer Finance

 

     3,762,697  
Containers & Packaging – 0.4%

 

Avery Dennison Corp.

     1,604        163,399  

Ball Corp.

     3,513        227,151  

Crown Holdings, Inc.*

     2,430        141,037  

International Paper Co.

     14,621        455,152  

Packaging Corp. of America

     2,608        226,453  

WestRock Co.

     8,362        236,310  
     

 

 

 
Total Containers & Packaging

 

     1,449,502  
Distributors – 0.1%

 

Genuine Parts Co.

     2,596        174,788  

LKQ Corp.*

     5,570        114,241  
     

 

 

 
Total Distributors

 

     289,029  
Diversified Consumer Services – 0.0%

 

Bright Horizons Family Solutions, Inc.*

     446      45,492  
Diversified Financial Services – 0.8%

 

Berkshire Hathaway, Inc. Class B*

     13,804        2,523,785  

Equitable Holdings, Inc.

     17,680        255,476  
     

 

 

 
Total Diversified Financial Services

 

     2,779,261  
Diversified Telecommunication Services – 3.2%

 

AT&T, Inc.

     146,725        4,277,034  

CenturyLink, Inc.

     38,738        366,461  

Verizon Communications, Inc.

     116,222        6,244,608  
     

 

 

 
Total Diversified Telecommunication Services

 

     10,888,103  
Electric Utilities – 2.0%

 

Alliant Energy Corp.

     3,085        148,975  

American Electric Power Co., Inc.

     5,749        459,805  

Avangrid, Inc.

     4,588        200,863  

Duke Energy Corp.

     11,900        962,472  

Edison International

     4,938        270,553  

Entergy Corp.

     1,594        149,788  

Evergy, Inc.

     3,815        210,016  

Eversource Energy

     4,335        339,040  

Exelon Corp.

     18,850        693,868  

FirstEnergy Corp.

     10,305        412,921  

NextEra Energy, Inc.

     3,480        837,358  

NRG Energy, Inc.

     5,630        153,474  

Pinnacle West Capital Corp.

     1,671        126,645  

PPL Corp.

     15,241        376,148  

Southern Co. (The)

     22,245        1,204,344  

Xcel Energy, Inc.

     6,092        367,348  
     

 

 

 
Total Electric Utilities

 

     6,913,618  
Electrical Equipment – 0.3%

 

AMETEK, Inc.

     3,139        226,071  

Emerson Electric Co.

     11,054        526,723  

Rockwell Automation, Inc.

     1,792        270,431  
     

 

 

 
Total Electrical Equipment

 

     1,023,225  
Electronic Equipment, Instruments & Components – 0.3%

 

Amphenol Corp. Class A

     4,024        293,269  

CDW Corp.

     1,895        176,747  

Corning, Inc.

     15,664        321,739  

Keysight Technologies, Inc.*

     1,186        99,244  

Trimble, Inc.*

     2,440        77,665  

Zebra Technologies Corp. Class A*

     772        141,739  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     1,110,403  
Energy Equipment & Services – 0.1%

 

Baker Hughes Co.

     10,191        107,005  

Halliburton Co.

     17,735        121,485  
     

 

 

 
Total Energy Equipment & Services

 

     228,490  
Entertainment – 1.1%

 

Activision Blizzard, Inc.

     8,967        533,357  

Electronic Arts, Inc.*

     3,883        388,960  

Live Nation Entertainment, Inc.*

     100        4,546  

Netflix, Inc.*

     1,496        561,748  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Take-Two Interactive Software, Inc.*

     775      $ 91,923  

Walt Disney Co. (The)

     21,599        2,086,463  
     

 

 

 
Total Entertainment

 

     3,666,997  
Equity Real Estate Investment Trusts (REITs) – 1.7%

 

Alexandria Real Estate Equities, Inc.

     436        59,758  

American Tower Corp.

     3,636        791,739  

AvalonBay Communities, Inc.

     1,055        155,264  

Boston Properties, Inc.

     1,456        134,287  

Camden Property Trust

     533        42,235  

Crown Castle International Corp.

     3,855        556,662  

Digital Realty Trust, Inc.

     627        87,097  

Duke Realty Corp.

     1,895        61,360  

Equinix, Inc.

     330        206,108  

Equity LifeStyle Properties, Inc.

     1,049        60,297  

Equity Residential

     2,454        151,436  

Essex Property Trust, Inc.

     455        100,209  

Extra Space Storage, Inc.

     1,388        132,915  

Federal Realty Investment Trust

     740        55,211  

Gaming and Leisure Properties, Inc.

     3,645        101,003  

Healthpeak Properties, Inc.

     1,539        36,705  

Host Hotels & Resorts, Inc.

     27,129        299,504  

Invitation Homes, Inc.

     323        6,903  

Iron Mountain, Inc.(a)

     3,441        81,896  

Kilroy Realty Corp.

     669        42,615  

Kimco Realty Corp.

     7,417        71,722  

Medical Properties Trust, Inc.

     6,026        104,190  

Mid-America Apartment Communities, Inc.

     628        64,703  

National Retail Properties, Inc.

     1,714        55,174  

Omega Healthcare Investors, Inc.

     2,979        79,063  

Prologis, Inc.

     8,202        659,195  

Public Storage

     2,357        468,124  

Realty Income Corp.

     2,078        103,609  

Regency Centers Corp.

     1,630        62,641  

SBA Communications Corp.

     238        64,253  

Simon Property Group, Inc.

     6,204        340,351  

STORE Capital Corp.

     2,207        39,991  

Sun Communities, Inc.

     350        43,697  

UDR, Inc.

     973        35,553  

Ventas, Inc.

     2,611        69,975  

VICI Properties, Inc.

     9,002        149,793  

Vornado Realty Trust

     3,358        121,593  

W.P. Carey, Inc.

     1,482        86,075  

Welltower, Inc.

     2,092        95,772  

Weyerhaeuser Co.

     2,776        47,053  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     5,925,731  
Food & Staples Retailing – 2.6%

 

Costco Wholesale Corp.

     4,365        1,244,592  

Kroger Co. (The)

     20,852        628,062  

Sysco Corp.

     7,842        357,831  

U.S. Foods Holding Corp.*

     3,764        66,660  

Walgreens Boots Alliance, Inc.

     29,569        1,352,782  

Walmart, Inc.

     46,592        5,293,783  
     

 

 

 
Total Food & Staples Retailing

 

     8,943,710  
Food Products – 1.7%

 

Archer-Daniels-Midland Co.

     11,999      422,125  

Campbell Soup Co.

     4,560        210,489  

Conagra Brands, Inc.

     9,699        284,569  

General Mills, Inc.

     13,702        723,054  

Hershey Co. (The)

     3,291        436,057  

Hormel Foods Corp.

     7,591        354,044  

J.M. Smucker Co. (The)

     2,623        291,153  

Kellogg Co.

     4,522        271,275  

Kraft Heinz Co. (The)

     39,609        979,927  

Lamb Weston Holdings, Inc.

     1,875        107,062  

McCormick & Co., Inc. Non-Voting Shares

     1,399        197,553  

Mondelez International, Inc. Class A

     18,958        949,417  

Tyson Foods, Inc. Class A

     8,241        476,907  
     

 

 

 
Total Food Products

 

     5,703,632  
Gas Utilities – 0.1%

 

Atmos Energy Corp.

     1,645        163,233  

UGI Corp.

     1,734        46,246  
     

 

 

 
Total Gas Utilities

 

     209,479  
Health Care Equipment & Supplies – 1.7%

 

Abbott Laboratories

     13,970        1,102,373  

ABIOMED, Inc.*

     428        62,129  

Align Technology, Inc.*

     549        95,499  

Baxter International, Inc.

     6,578        534,068  

Becton, Dickinson and Co.

     2,072        476,083  

Boston Scientific Corp.*

     11,226        366,304  

Cooper Cos., Inc. (The)

     531        146,381  

Danaher Corp.

     6,408        886,931  

Dentsply Sirona, Inc.

     1,538        59,721  

Edwards Lifesciences Corp.*

     1,445        272,556  

Hologic, Inc.*

     1,884        66,128  

IDEXX Laboratories, Inc.*

     552        133,717  

Intuitive Surgical, Inc.*

     740        366,455  

ResMed, Inc.

     1,135        167,174  

Stryker Corp.

     4,374        728,227  

Teleflex, Inc.

     331        96,937  

Varian Medical Systems, Inc.*

     1,032        105,945  

West Pharmaceutical Services, Inc.

     516        78,561  

Zimmer Biomet Holdings, Inc.

     1,915        193,568  
     

 

 

 
Total Health Care Equipment & Supplies

 

     5,938,757  
Health Care Providers & Services – 3.9%

 

AmerisourceBergen Corp.

     5,812        514,362  

Anthem, Inc.

     5,381        1,221,702  

Cardinal Health, Inc.

     7,714        369,809  

Centene Corp.*

     11,162        663,134  

Cigna Corp.

     9,091        1,610,743  

CVS Health Corp.

     28,253        1,676,251  

DaVita, Inc.*

     3,475        264,309  

HCA Healthcare, Inc.

     9,193        825,991  

Henry Schein, Inc.*

     2,984        150,752  

Humana, Inc.

     2,213        694,926  

Laboratory Corp. of America Holdings*

     1,880        237,613  

McKesson Corp.

     2,626        355,193  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Quest Diagnostics, Inc.

     2,456      $ 197,217  

UnitedHealth Group, Inc.

     16,835        4,198,312  

Universal Health Services, Inc. Class B

     1,927        190,927  
     

 

 

 
Total Health Care Providers & Services

 

     13,171,241  
Health Care Technology – 0.1%

 

Cerner Corp.

     2,729        171,900  

Veeva Systems, Inc. Class A*

     676        105,706  
     

 

 

 
Total Health Care Technology

 

     277,606  
Hotels, Restaurants & Leisure – 1.3%

 

Aramark

     3,012        60,150  

Chipotle Mexican Grill, Inc.*

     129        84,418  

Darden Restaurants, Inc.

     2,093        113,985  

Domino’s Pizza, Inc.

     445        144,211  

Hilton Worldwide Holdings, Inc.

     2,851        194,552  

Las Vegas Sands Corp.

     8,563        363,671  

Marriott International, Inc. Class A

     3,747        280,313  

McDonald’s Corp.

     11,334        1,874,077  

MGM Resorts International

     3,604        42,527  

Starbucks Corp.

     12,841        844,167  

Vail Resorts, Inc.

     430        63,515  

Wynn Resorts Ltd.

     1,039        62,537  

Yum! Brands, Inc.

     3,962        271,516  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     4,399,639  
Household Durables – 0.4%

 

D.R. Horton, Inc.

     11,323        384,982  

Lennar Corp. Class A

     11,572        442,050  

Mohawk Industries, Inc.*

     1,702        129,761  

NVR, Inc.*

     77        197,821  

PulteGroup, Inc.

     8,624        192,488  

Whirlpool Corp.(a)

     1,881        161,390  
     

 

 

 
Total Household Durables

 

     1,508,492  
Household Products – 1.7%

 

Church & Dwight Co., Inc.

     2,866        183,940  

Clorox Co. (The)

     1,977        342,515  

Colgate-Palmolive Co.

     13,503        896,059  

Kimberly-Clark Corp.

     5,824        744,715  

Procter & Gamble Co. (The)

     34,303        3,773,330  
     

 

 

 
Total Household Products

 

     5,940,559  
Independent Power & Renewable Electricity Producers – 0.1%

 

AES Corp.

     15,535        211,276  

Vistra Energy Corp.

     7,898        126,052  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     337,328  
Industrial Conglomerates – 1.2%

 

3M Co.

     10,902        1,488,232  

Carlisle Cos., Inc.

     992        124,278  

General Electric Co.

     97,852        776,945  

Honeywell International, Inc.

     11,457        1,532,832  

Roper Technologies, Inc.

     1,045        325,841  
     

 

 

 
Total Industrial Conglomerates

 

     4,248,128  
Insurance – 2.5%

 

Aflac, Inc.

     20,896        715,479  

Alleghany Corp.

     54      29,827  

Allstate Corp. (The)

     9,425        864,555  

American Financial Group, Inc.

     1,861        130,419  

American International Group, Inc.

     12,049        292,188  

Arthur J. Gallagher & Co.

     2,354        191,875  

Brown & Brown, Inc.

     3,334        120,757  

Cincinnati Financial Corp.

     2,436        183,796  

CNA Financial Corp.

     4,987        154,796  

Fidelity National Financial, Inc.

     5,879        146,270  

Globe Life, Inc.

     2,471        177,838  

Hartford Financial Services Group, Inc. (The)

     9,524        335,626  

Lincoln National Corp.

     5,265        138,575  

Loews Corp.

     3,903        135,942  

Markel Corp.*

     90        83,510  

Marsh & McLennan Cos., Inc.

     5,536        478,643  

MetLife, Inc.

     50,395        1,540,575  

Principal Financial Group, Inc.

     7,572        237,306  

Progressive Corp. (The)

     14,692        1,084,857  

Prudential Financial, Inc.

     13,242        690,438  

Reinsurance Group of America, Inc.

     1,619        136,223  

Travelers Cos., Inc. (The)

     6,111        607,128  

W.R. Berkley Corp.

     3,401        177,430  
     

 

 

 
Total Insurance

 

     8,654,053  
Interactive Media & Services – 4.7%

 

Alphabet, Inc. Class A*

     8,599        9,991,608  

Facebook, Inc. Class A*

     35,589        5,936,245  

IAC/InterActiveCorp*

     459        82,267  

Twitter, Inc.*

     5,190        127,466  
     

 

 

 
Total Interactive Media & Services

 

     16,137,586  
Internet & Direct Marketing Retail – 1.8%

 

Amazon.com, Inc.*

     2,244        4,375,172  

Booking Holdings, Inc.*

     816        1,097,781  

eBay, Inc.

     22,837        686,480  

Expedia Group, Inc.

     1,599        89,976  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     6,249,409  
IT Services – 4.0%

 

Akamai Technologies, Inc.*

     1,862        170,354  

Automatic Data Processing, Inc.

     5,256        718,390  

Black Knight, Inc.*

     892        51,790  

Booz Allen Hamilton Holding Corp.

     1,984        136,182  

Broadridge Financial Solutions, Inc.

     1,380        130,865  

Cognizant Technology Solutions Corp. Class A

     12,642        587,474  

DXC Technology Co.

     11,151        145,521  

EPAM Systems, Inc.*

     434        80,576  

Fidelity National Information Services, Inc.

     2,167        263,594  

Fiserv, Inc.*

     2,840        269,772  

FleetCor Technologies, Inc.*

     933        174,042  

Gartner, Inc.*

     513        51,079  

Global Payments, Inc.

     1,207        174,086  

GoDaddy, Inc. Class A*

     411        23,472  

International Business Machines Corp.

     26,598        2,950,516  

Jack Henry & Associates, Inc.

     587        91,126  

Leidos Holdings, Inc.

     2,120        194,298  

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2020

 

 

 

Investments    Shares      Value  

MasterCard, Inc. Class A

     9,033      $ 2,182,011  

Paychex, Inc.

     4,362        274,457  

PayPal Holdings, Inc.*

     8,360        800,386  

VeriSign, Inc.*

     1,073        193,237  

Visa, Inc. Class A

     22,946        3,697,059  

Western Union Co. (The)

     8,509        154,268  

WEX, Inc.*

     323        33,770  
     

 

 

 
Total IT Services

 

     13,548,325  
Leisure Products – 0.0%

 

Hasbro, Inc.

     1,548        110,759  
Life Sciences Tools & Services – 0.6%

 

Agilent Technologies, Inc.

     3,764        269,578  

Bio-Rad Laboratories, Inc. Class A*

     146        51,182  

Illumina, Inc.*

     872        238,161  

IQVIA Holdings, Inc.*

     710        76,581  

Mettler-Toledo International, Inc.*

     243        167,794  

PerkinElmer, Inc.

     1,019        76,710  

Thermo Fisher Scientific, Inc.

     3,877        1,099,517  

Waters Corp.*

     968        176,224  
     

 

 

 
Total Life Sciences Tools & Services

 

     2,155,747  
Machinery – 1.9%

 

Caterpillar, Inc.

     15,446        1,792,354  

Cummins, Inc.

     4,822        652,513  

Deere & Co.

     6,846        945,843  

Dover Corp.

     2,247        188,613  

Fortive Corp.

     2,980        164,466  

IDEX Corp.

     1,024        141,425  

Illinois Tool Works, Inc.

     5,211        740,587  

Nordson Corp.

     669        90,362  

PACCAR, Inc.

     10,023        612,706  

Parker-Hannifin Corp.

     2,745        356,109  

Snap-on, Inc.

     1,487        161,815  

Stanley Black & Decker, Inc.

     2,336        233,600  

Westinghouse Air Brake Technologies Corp.

     1,261        60,692  

Xylem, Inc.

     2,458        160,090  
     

 

 

 
Total Machinery

 

     6,301,175  
Media – 1.8%

 

Altice USA, Inc. Class A*

     5,630        125,493  

Cable One, Inc.

     39        64,116  

Charter Communications, Inc. Class A*

     1,241        541,461  

Comcast Corp. Class A

     94,399        3,245,437  

Discovery, Inc. Class A*(a)

     23,806        462,789  

DISH Network Corp. Class A*

     14,111        282,079  

Fox Corp. Class A

     16,975        401,119  

Liberty Broadband Corp. Class C*

     233        25,798  

Liberty Media Corp – Liberty SiriusXM Series C*

     3,916        123,824  

Omnicom Group, Inc.

     6,080        333,792  

Sirius XM Holdings, Inc.

     58,577        289,370  

ViacomCBS, Inc. Class B

     18,121        253,875  
     

 

 

 
Total Media

 

     6,149,153  
Metals & Mining – 0.2%

 

Newmont Corp.

     6,280        284,358  

Nucor Corp.

     11,882      427,990  
     

 

 

 
Total Metals & Mining

 

     712,348  
Multi-Utilities – 1.0%

 

Ameren Corp.

     3,188        232,182  

CenterPoint Energy, Inc.

     12,963        200,278  

CMS Energy Corp.

     3,320        195,050  

Consolidated Edison, Inc.

     5,621        438,438  

Dominion Energy, Inc.

     12,710        917,535  

DTE Energy Co.

     2,596        246,542  

NiSource, Inc.

     4,771        119,132  

Public Service Enterprise Group, Inc.

     8,036        360,897  

Sempra Energy

     3,127        353,320  

WEC Energy Group, Inc.

     3,682        324,494  
     

 

 

 
Total Multi-Utilities

 

     3,387,868  
Multiline Retail – 0.5%

 

Dollar General Corp.

     3,733        563,720  

Dollar Tree, Inc.*

     4,405        323,636  

Target Corp.

     8,658        804,934  
     

 

 

 
Total Multiline Retail

 

     1,692,290  
Oil, Gas & Consumable Fuels – 3.2%

 

Chevron Corp.

     40,627        2,943,832  

Concho Resources, Inc.

     5,827        249,687  

ConocoPhillips

     30,691        945,283  

Continental Resources, Inc.(a)

     9,631        73,581  

Diamondback Energy, Inc.

     3,821        100,110  

EOG Resources, Inc.

     15,169        544,870  

Exxon Mobil Corp.

     72,006        2,734,068  

Hess Corp.

     53        1,765  

Kinder Morgan, Inc.

     39,838        554,545  

Marathon Oil Corp.

     15,741        51,788  

Marathon Petroleum Corp.

     23,437        553,582  

Occidental Petroleum Corp.

     19,936        230,859  

ONEOK, Inc.

     6,055        132,060  

Phillips 66

     16,905        906,953  

Pioneer Natural Resources Co.

     2,480        173,972  

Valero Energy Corp.

     8,439        382,793  

Williams Cos., Inc. (The)

     18,130        256,539  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     10,836,287  
Personal Products – 0.2%

 

Coty, Inc. Class A

     6,399        33,019  

Estee Lauder Cos., Inc. (The) Class A

     3,663        583,662  
     

 

 

 
Total Personal Products

 

     616,681  
Pharmaceuticals – 4.8%

 

Bristol-Myers Squibb Co.

     31,820        1,773,647  

Elanco Animal Health, Inc.*

     3,422        76,619  

Eli Lilly & Co.

     13,679        1,897,551  

Johnson & Johnson

     43,001        5,638,721  

Merck & Co., Inc.

     39,189        3,015,202  

Pfizer, Inc.

     106,843        3,487,355  

Zoetis, Inc.

     4,364        513,599  
     

 

 

 
Total Pharmaceuticals

 

     16,402,694  

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Professional Services – 0.1%

 

CoStar Group, Inc.*

     201      $ 118,029  

TransUnion

     1,359        89,939  

Verisk Analytics, Inc.

     1,147        159,869  
     

 

 

 
Total Professional Services

 

     367,837  
Real Estate Management & Development – 0.1%

 

CBRE Group, Inc. Class A*

     6,737        254,052  
Road & Rail – 1.2%

 

CSX Corp.

     16,429        941,382  

JB Hunt Transport Services, Inc.

     1,429        131,797  

Kansas City Southern

     1,517        192,932  

Norfolk Southern Corp.

     5,045        736,570  

Old Dominion Freight Line, Inc.

     1,783        234,036  

Union Pacific Corp.

     11,928        1,682,325  
     

 

 

 
Total Road & Rail

 

     3,919,042  
Semiconductors & Semiconductor Equipment – 4.8%

 

Advanced Micro Devices, Inc.*

     1,505        68,447  

Analog Devices, Inc.

     4,624        414,542  

Applied Materials, Inc.

     18,126        830,533  

Broadcom, Inc.

     3,070        727,897  

Intel Corp.

     111,965        6,059,546  

KLA Corp.

     2,237        321,546  

Lam Research Corp.

     2,986        716,640  

Maxim Integrated Products, Inc.

     4,112        199,884  

Microchip Technology, Inc.(a)

     1,261        85,496  

Micron Technology, Inc.*

     51,396        2,161,716  

NVIDIA Corp.

     3,671        967,676  

ON Semiconductor Corp.*(a)

     7,558        94,022  

Qorvo, Inc.*

     754        60,795  

QUALCOMM, Inc.

     21,907        1,482,009  

Skyworks Solutions, Inc.

     2,940        262,777  

Teradyne, Inc.

     2,395        129,737  

Texas Instruments, Inc.

     14,368        1,435,794  

Universal Display Corp.

     223        29,387  

Xilinx, Inc.

     3,725        290,326  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     16,338,770  
Software – 6.7%

 

Adobe, Inc.*

     3,148        1,001,819  

ANSYS, Inc.*

     576        133,903  

Autodesk, Inc.*

     223        34,810  

Cadence Design Systems, Inc.*

     2,444        161,402  

Ceridian HCM Holding, Inc.*

     223        11,166  

Citrix Systems, Inc.

     1,688        238,936  

Fair Isaac Corp.*

     223        68,615  

Fortinet, Inc.*

     921        93,177  

Intuit, Inc.

     2,139        491,970  

Microsoft Corp.

     90,044        14,200,839  

NortonLifeLock, Inc.

     4,683        87,619  

Oracle Corp.

     75,660        3,656,648  

Paycom Software, Inc.*

     223        45,048  

PTC, Inc.*

     189        11,569  

salesforce.com, Inc.*

     1,461        210,355  

SS&C Technologies Holdings, Inc.

     2,223      97,412  

Synopsys, Inc.*

     974        125,441  

Trade Desk, Inc. (The) Class A*(a)

     100        19,300  

Tyler Technologies, Inc.*

     160        47,450  

VMware, Inc. Class A*(a)

     16,258        1,968,844  
     

 

 

 
Total Software

 

     22,706,323  
Specialty Retail – 2.3%

 

Advance Auto Parts, Inc.

     1,155        107,785  

AutoZone, Inc.*

     468        395,928  

Best Buy Co., Inc.

     6,580        375,060  

Burlington Stores, Inc.*

     657        104,108  

CarMax, Inc.*(a)

     3,193        171,879  

Home Depot, Inc. (The)

     19,112        3,568,402  

Lowe’s Cos., Inc.

     10,728        923,144  

O’Reilly Automotive, Inc.*

     1,116        335,972  

Ross Stores, Inc.

     4,918        427,719  

Tiffany & Co.

     1,440        186,480  

TJX Cos., Inc. (The)

     18,414        880,373  

Tractor Supply Co.

     2,147        181,529  

Ulta Beauty, Inc.*

     939        164,982  
     

 

 

 
Total Specialty Retail

 

     7,823,361  
Technology Hardware, Storage & Peripherals – 5.3%

 

Apple, Inc.

     65,459        16,645,569  

Hewlett Packard Enterprise Co.

     33,372        324,042  

HP, Inc.

     55,166        957,682  

NetApp, Inc.

     4,921        205,156  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     18,132,449  
Textiles, Apparel & Luxury Goods – 0.5%

 

NIKE, Inc. Class B

     16,245        1,344,111  

VF Corp.

     6,043        326,806  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     1,670,917  
Tobacco – 1.3%

 

Altria Group, Inc.

     50,873        1,967,259  

Philip Morris International, Inc.

     33,073        2,413,006  
     

 

 

 
Total Tobacco

 

     4,380,265  
Trading Companies & Distributors – 0.2%

 

Fastenal Co.

     7,523        235,094  

United Rentals, Inc.*

     2,517        258,999  

W.W. Grainger, Inc.

     1,073        266,641  
     

 

 

 
Total Trading Companies & Distributors

 

     760,734  
Water Utilities – 0.1%

 

American Water Works Co., Inc.

     1,811        216,523  

Essential Utilities, Inc.

     1,661        67,603  
     

 

 

 
Total Water Utilities

 

     284,126  
Wireless Telecommunication Services – 0.4%

 

Sprint Corp.*

     15,532        133,886  

T-Mobile U.S., Inc.*

     16,535        1,387,286  
     

 

 

 
Total Wireless Telecommunication Services

 

     1,521,172  

TOTAL COMMON STOCKS

(Cost: $394,609,916)

 

 

     340,572,795  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2020

 

 

 

Investments    Shares      Value  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree U.S. High Dividend Fund(b)
(Cost: $562,731)
     9,075      $ 513,645  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.2%

 

United States – 0.2%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $585,507)      585,507        585,507  

TOTAL INVESTMENTS IN SECURITIES – 100.1%

(Cost: $395,758,154)

 

 

     341,671,947  

Other Assets less Liabilities – (0.1)%

 

     (249,243
     

 

 

 
NET ASSETS – 100.0%

 

   $ 341,422,704  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $2,770,983 and the total market value of the collateral held by the Fund was $2,839,740. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,254,233.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

    

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. High Dividend Fund

  $ 535,191     $ 4,759,847     $ 4,659,436     $ (20,010   $ (101,947   $ 513,645     $ 44,179  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Table of Contents

Schedule of Investments

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.4%

 

United States – 99.4%

 

Aerospace & Defense – 0.8%

 

Arconic, Inc.

     136,725      $ 2,195,804  

BWX Technologies, Inc.(a)

     102,343        4,985,128  

Curtiss-Wright Corp.(a)

     18,235        1,685,096  

Hexcel Corp.(a)

     59,597        2,216,412  

Huntington Ingalls Industries, Inc.(a)

     45,282        8,250,833  

Spirit AeroSystems Holdings, Inc. Class A(a)

     39,466        944,421  
     

 

 

 
Total Aerospace & Defense

 

     20,277,694  
Air Freight & Logistics – 1.1%

 

C.H. Robinson Worldwide, Inc.(a)

     252,716        16,729,799  

Expeditors International of Washington, Inc.(a)

     157,135        10,484,047  
     

 

 

 
Total Air Freight & Logistics

 

     27,213,846  
Airlines – 0.2%

 

American Airlines Group, Inc.(a)

     455,888        5,557,275  
Auto Components – 1.0%

 

BorgWarner, Inc.(a)

     265,217        6,463,338  

Gentex Corp.

     358,764        7,950,210  

Goodyear Tire & Rubber Co. (The)

     524,963        3,055,285  

Lear Corp.(a)

     99,995        8,124,594  
     

 

 

 
Total Auto Components

 

     25,593,427  
Automobiles – 0.4%

 

Harley-Davidson, Inc.(a)

     377,795        7,151,659  

Thor Industries, Inc.

     86,652        3,654,982  
     

 

 

 
Total Automobiles

 

     10,806,641  
Banks – 8.3%

 

Associated Banc-Corp.(a)

     401,094        5,129,992  

Bank of Hawaii Corp.(a)

     60,541        3,344,285  

Bank OZK(a)

     296,643        4,953,938  

BankUnited, Inc.

     173,123        3,237,400  

BOK Financial Corp.(a)

     111,025        4,725,224  

CenterState Bank Corp.

     83,573        1,439,963  

CIT Group, Inc.

     240,092        4,143,988  

Comerica, Inc.(a)

     393,431        11,543,265  

Commerce Bancshares, Inc.(a)

     108,883        5,482,259  

Community Bank System, Inc.(a)

     70,424        4,140,931  

Cullen/Frost Bankers, Inc.(a)

     139,185        7,765,131  

East West Bancorp, Inc.(a)

     270,762        6,969,414  

First Citizens BancShares, Inc. Class A(a)

     1,087        361,830  

First Financial Bankshares, Inc.(a)

     95,757        2,570,118  

First Hawaiian, Inc.

     306,661        5,069,106  

First Horizon National Corp.(a)

     780,933        6,294,320  

FNB Corp.

     956,395        7,048,631  

Glacier Bancorp, Inc.

     160,195        5,447,431  

Hancock Whitney Corp.

     153,356        2,993,509  

Iberiabank Corp.

     96,075        3,474,072  

Investors Bancorp, Inc.

     748,094        5,977,271  

PacWest Bancorp(a)

     563,943        10,105,859  

People’s United Financial, Inc.(a)

     1,333,164        14,731,462  

Pinnacle Financial Partners, Inc.(a)

     35,959        1,349,901  

Popular, Inc.(a)

     133,104        4,658,640  

Prosperity Bancshares, Inc.(a)

     169,216      8,164,672  

Signature Bank(a)

     66,616        5,355,260  

Sterling Bancorp(a)

     168,008        1,755,684  

Synovus Financial Corp.(a)

     314,126        5,516,053  

TCF Financial Corp.(a)

     342,840        7,768,754  

UMB Financial Corp.(a)

     61,586        2,856,359  

Umpqua Holdings Corp.

     834,806        9,099,385  

United Bankshares, Inc.(a)

     254,449        5,872,683  

Valley National Bancorp

     1,029,681        7,526,968  

Webster Financial Corp.

     225,383        5,161,271  

Western Alliance Bancorp(a)

     100,199        3,067,091  

Wintrust Financial Corp.(a)

     73,602        2,418,562  

Zions Bancorp N.A.(a)

     299,647        8,018,554  
     

 

 

 
Total Banks

 

     205,539,236  
Beverages – 1.0%

 

Molson Coors Beverage Co. Class B(a)

     618,902        24,143,367  
Building Products – 1.5%

 

A.O. Smith Corp.(a)

     198,822        7,517,460  

Armstrong World Industries, Inc.(a)

     39,653        3,149,241  

Fortune Brands Home & Security, Inc.(a)

     128,791        5,570,211  

Lennox International, Inc.

     31,369        5,702,571  

Masco Corp.

     268,013        9,265,209  

Owens Corning(a)

     133,394        5,177,021  

Simpson Manufacturing Co., Inc.

     22,899        1,419,280  
     

 

 

 
Total Building Products

 

     37,800,993  
Capital Markets – 4.2%

 

Affiliated Managers Group, Inc.(a)

     73,423        4,342,236  

Ares Management Corp. Class A

     264,358        8,176,593  

CBOE Global Markets, Inc.

     96,632        8,624,406  

E*TRADE Financial Corp.(a)

     204,102        7,004,781  

Eaton Vance Corp.(a)

     247,257        7,974,038  

FactSet Research Systems, Inc.(a)

     24,719        6,443,749  

Federated Hermes, Inc. Class B(a)

     190,917        3,636,969  

Franklin Resources, Inc.

     1,446,941        24,149,445  

Interactive Brokers Group, Inc. Class A

     54,804        2,365,889  

Legg Mason, Inc.(a)

     265,121        12,951,161  

LPL Financial Holdings, Inc.(a)

     51,299        2,792,204  

Morningstar, Inc.

     13,171        1,531,129  

Raymond James Financial, Inc.

     149,624        9,456,237  

SEI Investments Co.(a)

     78,242        3,625,734  

Stifel Financial Corp.

     36,994        1,527,112  
     

 

 

 
Total Capital Markets

 

     104,601,683  
Chemicals – 3.9%

 

Albemarle Corp.(a)

     152,411        8,591,408  

Ashland Global Holdings, Inc.

     56,025        2,805,172  

CF Industries Holdings, Inc.

     441,954        12,021,149  

Eastman Chemical Co.

     311,082        14,490,200  

FMC Corp.

     146,967        12,005,734  

Huntsman Corp.(a)

     509,195        7,347,684  

Mosaic Co. (The)(a)

     210,933        2,282,295  

NewMarket Corp.(a)

     15,680        6,003,402  

RPM International, Inc.(a)

     197,354        11,742,563  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2020

 

 

 

Investments    Shares      Value  

Scotts Miracle-Gro Co. (The)(a)

     106,911      $ 10,947,686  

Valvoline, Inc.(a)

     186,381        2,439,727  

W.R. Grace & Co.(a)

     46,392        1,651,555  

Westlake Chemical Corp.(a)

     124,757        4,761,975  
     

 

 

 
Total Chemicals

 

     97,090,550  
Commercial Services & Supplies – 1.0%

 

ADT, Inc.(a)

     1,073,395        4,637,067  

Brink’s Co. (The)(a)

     35,956        1,871,510  

MSA Safety, Inc.(a)

     50,466        5,107,159  

Rollins, Inc.(a)

     260,229        9,404,676  

Tetra Tech, Inc.

     38,105        2,690,975  
     

 

 

 
Total Commercial Services & Supplies

 

     23,711,387  
Communications Equipment – 0.8%

 

Juniper Networks, Inc.(a)

     739,428        14,152,652  

Ubiquiti, Inc.(a)

     39,002        5,521,903  
     

 

 

 
Total Communications Equipment

 

     19,674,555  
Construction & Engineering – 0.3%

 

EMCOR Group, Inc.

     16,639        1,020,303  

Jacobs Engineering Group, Inc.(a)

     90,580        7,180,277  
     

 

 

 
Total Construction & Engineering

 

     8,200,580  
Construction Materials – 0.0%

 

Eagle Materials, Inc.

     19,086        1,115,004  
Consumer Finance – 1.2%

 

Ally Financial, Inc.(a)

     565,361        8,158,159  

FirstCash, Inc.

     44,560        3,196,734  

OneMain Holdings, Inc.(a)

     204,230        3,904,878  

Santander Consumer USA Holdings, Inc.

     866,865        12,058,092  

SLM Corp.(a)

     507,852        3,651,456  
     

 

 

 
Total Consumer Finance

 

     30,969,319  
Containers & Packaging – 3.2%

 

AptarGroup, Inc.(a)

     70,645        7,032,003  

Avery Dennison Corp.(a)

     117,784        11,998,656  

Graphic Packaging Holding Co.(a)

     480,720        5,864,784  

Packaging Corp. of America(a)

     203,480        17,668,168  

Sealed Air Corp.

     169,116        4,178,856  

Silgan Holdings, Inc.(a)

     66,925        1,942,164  

Sonoco Products Co.(a)

     200,745        9,304,531  

WestRock Co.(a)

     793,117        22,413,487  
     

 

 

 
Total Containers & Packaging

 

     80,402,649  
Distributors – 0.3%

 

Pool Corp.

     37,396        7,358,411  
Diversified Consumer Services – 0.7%

 

H&R Block, Inc.(a)

     625,286        8,804,027  

Service Corp. International(a)

     222,600        8,705,886  
     

 

 

 
Total Diversified Consumer Services

 

     17,509,913  
Diversified Financial Services – 0.9%

 

Equitable Holdings, Inc.(a)

     759,761        10,978,546  

Jefferies Financial Group, Inc.(a)

     519,133        7,096,548  

Voya Financial, Inc.(a)

     87,823        3,561,223  
     

 

 

 
Total Diversified Financial Services

 

     21,636,317  
Electric Utilities – 4.1%

 

ALLETE, Inc.

     97,578      5,921,033  

Alliant Energy Corp.(a)

     488,804        23,604,345  

Hawaiian Electric Industries, Inc.(a)

     254,878        10,972,498  

IDACORP, Inc.(a)

     94,833        8,325,389  

NRG Energy, Inc.(a)

     90,520        2,467,575  

OGE Energy Corp.

     539,358        16,574,471  

Pinnacle West Capital Corp.(a)

     274,683        20,818,225  

PNM Resources, Inc.(a)

     141,026        5,358,988  

Portland General Electric Co.

     189,547        9,086,883  
     

 

 

 
Total Electric Utilities

 

     103,129,407  
Electrical Equipment – 0.7%

 

Acuity Brands, Inc.

     3,050        261,263  

GrafTech International Ltd.(a)

     469,366        3,811,252  

Hubbell, Inc.(a)

     106,495        12,219,236  

Regal Beloit Corp.(a)

     24,286        1,528,804  
     

 

 

 
Total Electrical Equipment

 

     17,820,555  
Electronic Equipment, Instruments & Components – 1.0%

 

Avnet, Inc.(a)

     106,956        2,684,596  

Cognex Corp.(a)

     64,771        2,734,632  

Dolby Laboratories, Inc. Class A

     56,336        3,053,974  

FLIR Systems, Inc.

     150,764        4,807,864  

Jabil, Inc.(a)

     132,289        3,251,664  

Littelfuse, Inc.(a)

     16,213        2,163,138  

National Instruments Corp.(a)

     178,820        5,915,365  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     24,611,233  
Energy Equipment & Services – 0.4%

 

Helmerich & Payne, Inc.(a)

     522,137        8,171,444  

National Oilwell Varco, Inc.(a)

     144,352        1,418,980  
     

 

 

 
Total Energy Equipment & Services

 

     9,590,424  
Entertainment – 0.1%

 

Cinemark Holdings, Inc.(a)

     264,840        2,698,720  
Equity Real Estate Investment Trusts (REITs) – 14.3%

 

American Campus Communities, Inc.(a)

     162,748        4,516,257  

American Homes 4 Rent Class A(a)

     93,318        2,164,978  

Americold Realty Trust

     163,247        5,556,928  

Apartment Investment & Management Co. Class A(a)

     154,941        5,446,176  

Brixmor Property Group, Inc.

     463,003        4,398,528  

Camden Property Trust

     95,415        7,560,685  

CoreSite Realty Corp.

     52,657        6,102,946  

Corporate Office Properties Trust

     135,218        2,992,374  

Cousins Properties, Inc.

     132,180        3,868,909  

CubeSmart

     274,088        7,342,817  

CyrusOne, Inc.(a)

     114,441        7,066,732  

Douglas Emmett, Inc.

     142,323        4,342,275  

Duke Realty Corp.(a)

     339,418        10,990,355  

EastGroup Properties, Inc.

     31,355        3,275,970  

EPR Properties

     181,599        4,398,328  

Equity LifeStyle Properties, Inc.(a)

     122,062        7,016,124  

Extra Space Storage, Inc.(a)

     159,780        15,300,533  

Federal Realty Investment Trust(a)

     90,087        6,721,391  

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2020

 

 

 

Investments    Shares      Value  

First Industrial Realty Trust, Inc.

     104,641      $ 3,477,220  

Gaming and Leisure Properties, Inc.

     517,250        14,332,997  

Healthcare Realty Trust, Inc.

     146,923        4,103,559  

Healthcare Trust of America, Inc. Class A

     295,544        7,175,808  

Highwoods Properties, Inc.(a)

     114,637        4,060,443  

Host Hotels & Resorts, Inc.

     1,186,328        13,097,061  

Hudson Pacific Properties, Inc.

     166,184        4,214,426  

Iron Mountain, Inc.(a)

     808,239        19,236,088  

JBG SMITH Properties(a)

     127,595        4,061,349  

Kilroy Realty Corp.

     85,813        5,466,288  

Kimco Realty Corp.

     699,285        6,762,086  

Lamar Advertising Co. Class A(a)

     137,133        7,032,180  

Life Storage, Inc.

     64,394        6,088,453  

Macerich Co. (The)(a)

     625,541        3,521,796  

Medical Properties Trust, Inc.(a)

     949,176        16,411,253  

National Health Investors, Inc.

     80,028        3,962,987  

National Retail Properties, Inc.(a)

     240,047        7,727,113  

Omega Healthcare Investors, Inc.(a)

     474,764        12,600,237  

Outfront Media, Inc.(a)

     271,056        3,653,835  

Park Hotels & Resorts, Inc.

     669,230        5,293,609  

Pebblebrook Hotel Trust

     330,355        3,597,566  

Physicians Realty Trust

     314,315        4,381,551  

PS Business Parks, Inc.

     23,694        3,211,011  

Rayonier, Inc.(a)

     177,261        4,174,497  

Regency Centers Corp.(a)

     219,914        8,451,295  

Rexford Industrial Realty, Inc.

     59,834        2,453,792  

Ryman Hospitality Properties, Inc.

     75,104        2,692,478  

Sabra Health Care REIT, Inc.

     583,031        6,366,698  

Service Properties Trust(a)

     592,334        3,198,604  

SL Green Realty Corp.

     130,220        5,612,482  

Spirit Realty Capital, Inc.

     168,032        4,394,037  

STAG Industrial, Inc.

     198,688        4,474,454  

STORE Capital Corp.

     299,686        5,430,310  

Terreno Realty Corp.

     30,071        1,556,174  

VEREIT, Inc.

     2,064,197        10,093,923  

VICI Properties, Inc.

     733,848        12,211,231  

Vornado Realty Trust(a)

     291,113        10,541,202  

Weingarten Realty Investors(a)

     164,790        2,377,920  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     356,560,319  
Food & Staples Retailing – 0.1%

 

Casey’s General Stores, Inc.(a)

     23,512        3,115,105  
Food Products – 3.8%

 

Campbell Soup Co.

     649,359        29,974,412  

Flowers Foods, Inc.(a)

     556,747        11,424,448  

Ingredion, Inc.

     125,260        9,457,130  

J&J Snack Foods Corp.

     3,807        460,647  

J.M. Smucker Co. (The)(a)

     268,697        29,825,367  

Lamb Weston Holdings, Inc.(a)

     115,268        6,581,803  

Lancaster Colony Corp.

     33,210        4,803,494  

Sanderson Farms, Inc.(a)

     12,389        1,527,812  
     

 

 

 
Total Food Products

 

     94,055,113  
Gas Utilities – 2.6%

 

Atmos Energy Corp.(a)

     187,536        18,609,197  

National Fuel Gas Co.

     205,738      7,671,970  

New Jersey Resources Corp.(a)

     157,762        5,359,175  

ONE Gas, Inc.(a)

     89,535        7,486,917  

Southwest Gas Holdings, Inc.(a)

     93,417        6,498,087  

Spire, Inc.(a)

     106,392        7,924,076  

UGI Corp.(a)

     425,325        11,343,418  
     

 

 

 
Total Gas Utilities

 

     64,892,840  
Health Care Equipment & Supplies – 0.6%

 

Cantel Medical Corp.

     1,169        41,967  

Dentsply Sirona, Inc.(a)

     142,949        5,550,710  

Hill-Rom Holdings, Inc.

     41,023        4,126,914  

West Pharmaceutical Services, Inc.

     31,650        4,818,712  
     

 

 

 
Total Health Care Equipment & Supplies

 

     14,538,303  
Health Care Providers & Services – 0.5%

 

Chemed Corp.(a)

     5,750        2,490,900  

Encompass Health Corp.

     118,806        7,607,148  

Universal Health Services, Inc. Class B(a)

     20,450        2,026,186  
     

 

 

 
Total Health Care Providers & Services

 

     12,124,234  
Hotels, Restaurants & Leisure – 3.3%

 

Aramark(a)

     216,963        4,332,751  

Choice Hotels International, Inc.

     50,200        3,074,750  

Churchill Downs, Inc.(a)

     23,826        2,452,887  

Cracker Barrel Old Country Store, Inc.

     43,580        3,626,728  

Domino’s Pizza, Inc.(a)

     30,123        9,761,961  

Dunkin’ Brands Group, Inc.(a)

     127,842        6,788,410  

Marriott Vacations Worldwide Corp.(a)

     44,535        2,475,255  

Six Flags Entertainment Corp.(a)

     398,893        5,002,118  

Texas Roadhouse, Inc.(a)

     83,603        3,452,804  

Vail Resorts, Inc.(a)

     78,450        11,587,850  

Wendy’s Co. (The)(a)

     379,456        5,646,305  

Wyndham Destinations, Inc.(a)

     265,709        5,765,885  

Wyndham Hotels & Resorts, Inc.(a)

     156,334        4,926,084  

Wynn Resorts Ltd.

     228,737        13,767,680  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     82,661,468  
Household Durables – 1.9%

 

Leggett & Platt, Inc.(a)

     324,804        8,665,771  

Newell Brands, Inc.(a)

     1,394,539        18,519,478  

PulteGroup, Inc.

     269,972        6,025,775  

Toll Brothers, Inc.

     79,070        1,522,097  

Whirlpool Corp.(a)

     145,579        12,490,678  
     

 

 

 
Total Household Durables

 

     47,223,799  
Household Products – 0.1%

 

Energizer Holdings, Inc.(a)

     76,299        2,308,045  
Independent Power & Renewable Electricity Producers – 1.8%

 

AES Corp.

     1,425,747        19,390,159  

TerraForm Power, Inc. Class A

     801,152        12,634,167  

Vistra Energy Corp.(a)

     732,212        11,686,104  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     43,710,430  
Industrial Conglomerates – 0.3%

 

Carlisle Cos., Inc.

     61,283        7,677,534  

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2020

 

 

 

Investments    Shares      Value  
Insurance – 5.5%

 

American Financial Group, Inc.(a)

     109,649      $ 7,684,202  

American National Insurance Co.

     67,202        5,536,101  

Assurant, Inc.(a)

     80,738        8,404,018  

Brown & Brown, Inc.(a)

     150,530        5,452,197  

CNA Financial Corp.(a)

     627,287        19,470,988  

Erie Indemnity Co. Class A

     64,542        9,567,706  

Fidelity National Financial, Inc.(a)

     512,992        12,763,241  

First American Financial Corp.

     191,026        8,101,413  

Globe Life, Inc.

     34,915        2,512,833  

Hanover Insurance Group, Inc. (The)(a)

     41,180        3,730,084  

Kemper Corp.(a)

     74,722        5,557,075  

Lincoln National Corp.

     390,212        10,270,380  

Old Republic International Corp.(a)

     793,497        12,100,829  

Primerica, Inc.(a)

     23,648        2,092,375  

Reinsurance Group of America, Inc.

     71,051        5,978,231  

RLI Corp.(a)

     21,621        1,901,135  

Selective Insurance Group, Inc.

     59,465        2,955,410  

Unum Group(a)

     591,806        8,883,008  

W.R. Berkley Corp.(a)

     67,030        3,496,955  
     

 

 

 
Total Insurance

 

     136,458,181  
IT Services – 3.0%

 

Alliance Data Systems Corp.(a)

     71,492        2,405,706  

Booz Allen Hamilton Holding Corp.(a)

     175,579        12,051,743  

DXC Technology Co.

     378,257        4,936,254  

Jack Henry & Associates, Inc.(a)

     65,906        10,231,247  

KBR, Inc.(a)

     94,359        1,951,344  

Leidos Holdings, Inc.(a)

     165,906        15,205,285  

MAXIMUS, Inc.(a)

     63,460        3,693,372  

Perspecta, Inc.(a)

     120,688        2,201,349  

Science Applications International Corp.

     70,840        5,286,789  

Western Union Co. (The)(a)

     922,891        16,732,014  
     

 

 

 
Total IT Services

 

     74,695,103  
Leisure Products – 1.1%

 

Brunswick Corp.(a)

     110,906        3,922,745  

Hasbro, Inc.(a)

     243,878        17,449,471  

Polaris, Inc.(a)

     123,705        5,956,396  
     

 

 

 
Total Leisure Products

 

     27,328,612  
Life Sciences Tools & Services – 0.4%

 

Bio-Techne Corp.

     24,804        4,703,335  

Bruker Corp.

     54,879        1,967,961  

PerkinElmer, Inc.

     29,926        2,252,829  
     

 

 

 
Total Life Sciences Tools & Services

 

     8,924,125  
Machinery – 3.5%

 

AGCO Corp.

     53,162        2,511,904  

Allison Transmission Holdings, Inc.

     130,251        4,247,485  

Crane Co.

     53,400        2,626,212  

Donaldson Co., Inc.(a)

     133,562        5,159,500  

Flowserve Corp.

     111,838        2,671,810  

Graco, Inc.

     132,389        6,451,316  

IDEX Corp.

     70,079        9,678,611  

ITT, Inc.(a)

     71,745        3,254,353  

Lincoln Electric Holdings, Inc.

     79,780      5,504,820  

Nordson Corp.(a)

     48,227        6,514,021  

Oshkosh Corp.(a)

     80,445        5,175,027  

Snap-on, Inc.(a)

     99,094        10,783,409  

Timken Co. (The)(a)

     137,021        4,431,259  

Toro Co. (The)

     99,490        6,475,804  

Woodward, Inc.(a)

     29,405        1,747,833  

Xylem, Inc.

     149,804        9,756,735  
     

 

 

 
Total Machinery

 

     86,990,099  
Media – 1.4%

 

Cable One, Inc.(a)

     3,584        5,892,132  

Interpublic Group of Cos., Inc. (The)(a)

     1,102,598        17,851,061  

New York Times Co. (The) Class A

     67,490        2,072,618  

News Corp. Class A(a)

     394,120        3,537,227  

Nexstar Media Group, Inc. Class A(a)

     60,293        3,480,715  

TEGNA, Inc.(a)

     185,187        2,011,131  
     

 

 

 
Total Media

 

     34,844,884  
Metals & Mining – 1.0%

 

Reliance Steel & Aluminum Co.(a)

     100,698        8,820,138  

Royal Gold, Inc.

     60,333        5,291,807  

Steel Dynamics, Inc.

     425,254        9,585,225  
     

 

 

 
Total Metals & Mining

 

     23,697,170  
Multi-Utilities – 2.7%

 

Black Hills Corp.

     135,149        8,653,591  

CenterPoint Energy, Inc.(a)

     1,510,223        23,332,945  

MDU Resources Group, Inc.(a)

     463,733        9,970,260  

NiSource, Inc.(a)

     745,686        18,619,779  

NorthWestern Corp.

     113,719        6,803,808  
     

 

 

 
Total Multi-Utilities

 

     67,380,383  
Multiline Retail – 0.4%

 

Kohl’s Corp.(a)

     600,729        8,764,636  
Oil, Gas & Consumable Fuels – 2.7%

 

Apache Corp.

     1,252,479        5,235,362  

Cabot Oil & Gas Corp.(a)

     734,959        12,633,945  

Cimarex Energy Co.(a)

     140,450        2,363,773  

Continental Resources, Inc.(a)

     155,643        1,189,113  

CVR Energy, Inc.

     579,068        9,571,994  

Devon Energy Corp.(a)

     421,206        2,910,533  

Diamondback Energy, Inc.(a)

     95,376        2,498,851  

HollyFrontier Corp.

     308,129        7,552,242  

Marathon Oil Corp.(a)

     922,427        3,034,785  

Murphy Oil Corp.(a)

     358,373        2,196,826  

Noble Energy, Inc.(a)

     624,404        3,771,400  

Parsley Energy, Inc. Class A(a)

     122,764        703,438  

PBF Energy, Inc. Class A(a)

     269,370        1,907,140  

Targa Resources Corp.

     1,562,305        10,795,528  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     66,364,930  
Paper & Forest Products – 0.2%

 

Louisiana-Pacific Corp.(a)

     220,792        3,793,207  
Personal Products – 0.5%

 

Coty, Inc. Class A(a)

     2,540,208        13,107,473  

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2020

 

 

 

Investments    Shares      Value  
Professional Services – 0.6%

 

Exponent, Inc.

     18,914      $ 1,360,106  

ManpowerGroup, Inc.(a)

     111,701        5,919,036  

Robert Half International, Inc.(a)

     172,393        6,507,836  
     

 

 

 
Total Professional Services

 

     13,786,978  
Real Estate Management & Development – 0.1%

 

Jones Lang LaSalle, Inc.(a)

     7,934        801,175  

Kennedy-Wilson Holdings, Inc.

     190,521        2,556,792  
     

 

 

 
Total Real Estate Management & Development

 

     3,357,967  
Road & Rail – 0.5%

 

JB Hunt Transport Services, Inc.(a)

     76,982        7,100,050  

Knight-Swift Transportation Holdings, Inc.(a)

     79,103        2,594,578  

Landstar System, Inc.(a)

     19,531        1,872,242  
     

 

 

 
Total Road & Rail

 

     11,566,870  
Semiconductors & Semiconductor Equipment – 1.4%

 

Brooks Automation, Inc.

     16,769        511,454  

Cabot Microelectronics Corp.(a)

     30,974        3,535,372  

Cypress Semiconductor Corp.(a)

     564,694        13,168,664  

Entegris, Inc.(a)

     87,393        3,912,585  

MKS Instruments, Inc.(a)

     40,288        3,281,458  

Monolithic Power Systems, Inc.

     27,805        4,656,225  

Teradyne, Inc.(a)

     91,292        4,945,288  

Universal Display Corp.(a)

     7,249        955,273  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     34,966,319  
Software – 0.4%

 

Blackbaud, Inc.(a)

     23,955        1,330,700  

CDK Global, Inc.(a)

     62,340        2,047,869  

LogMeIn, Inc.(a)

     54,441        4,533,847  

Pegasystems, Inc.

     14,656        1,043,947  
     

 

 

 
Total Software

 

     8,956,363  
Specialty Retail – 2.3%

 

Aaron’s, Inc.

     14,957        340,720  

Foot Locker, Inc.

     304,420        6,712,461  

Gap, Inc. (The)

     1,524,810        10,734,662  

L Brands, Inc.(a)

     1,259,485        14,559,647  

Penske Automotive Group, Inc.(a)

     213,612        5,981,136  

Tractor Supply Co.(a)

     123,703        10,459,089  

Williams-Sonoma, Inc.

     176,364        7,498,997  
     

 

 

 
Total Specialty Retail

 

     56,286,712  
Technology Hardware, Storage & Peripherals – 1.2%

 

NetApp, Inc.

     486,982        20,302,280  

Xerox Holdings Corp.

     458,217        8,678,630  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     28,980,910  
Textiles, Apparel & Luxury Goods – 0.8%

 

Carter’s, Inc.(a)

     65,228        4,287,437  

Columbia Sportswear Co.(a)

     57,874        4,037,869  

Hanesbrands, Inc.(a)

     910,477        7,165,454  

PVH Corp.(a)

     7,236        272,363  

Ralph Lauren Corp.(a)

     67,151        4,487,701  

Steven Madden Ltd.(a)

     37,341        867,431  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     21,118,255  
Thrifts & Mortgage Finance – 1.4%

 

MGIC Investment Corp.(a)

    391,180     2,483,993  

New York Community Bancorp, Inc.(a)

    1,913,095       17,963,962  

Radian Group, Inc.

    5,998       77,674  

TFS Financial Corp.

    978,094       14,935,496  
   

 

 

 
Total Thrifts & Mortgage Finance

 

    35,461,125  
Trading Companies & Distributors – 0.9%

 

Air Lease Corp.(a)

    108,250       2,396,655  

MSC Industrial Direct Co., Inc. Class A

    115,854       6,368,494  

Watsco, Inc.(a)

    81,722       12,914,528  
   

 

 

 
Total Trading Companies & Distributors

 

    21,679,677  
Transportation Infrastructure – 0.5%

 

Macquarie Infrastructure Corp.(a)

    521,657       13,171,839  
Water Utilities – 0.5%

 

Essential Utilities, Inc.(a)

    335,517       13,655,542  

TOTAL COMMON STOCKS

(Cost: $3,321,967,549)

 

 

    2,471,257,736  
EXCHANGE-TRADED FUND – 0.4%

 

United States – 0.4%

 

WisdomTree U.S. LargeCap Dividend Fund(a)(b)

   
(Cost: $8,846,583)     107,876       8,731,483  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 8.1%

 

United States – 8.1%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

   
(Cost: $202,305,185)     202,305,185       202,305,185  

TOTAL INVESTMENTS IN SECURITIES – 107.9%

(Cost: $3,533,119,317)

 

 

    2,682,294,404  

Other Assets less Liabilities – (7.9)%

 

    (197,033,374
   

 

 

 
NET ASSETS – 100.0%

 

  $ 2,485,261,030  

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $418,633,447 and the total market value of the collateral held by the Fund was $434,868,584. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $232,563,399.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2020

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. LargeCap Dividend Fund

  $ 18,835,332     $ 80,502,514     $ 91,659,798     $ 2,761,273     $ (1,707,838   $ 8,731,483     $ 419,203  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Table of Contents

Schedule of Investments

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

United States – 99.7%

 

Aerospace & Defense – 1.1%

 

Aerojet Rocketdyne Holdings, Inc.*(a)

     24,255      $     1,014,587  

Axon Enterprise, Inc.*(a)

     892        63,127  

BWX Technologies, Inc.

     25,047        1,220,039  

Curtiss-Wright Corp.

     13,204        1,220,182  

Hexcel Corp.

     26,752        994,907  

Mercury Systems, Inc.*

     5,687        405,710  

Moog, Inc. Class A

     13,570        685,692  

Parsons Corp.*(a)

     14,251        455,462  
     

 

 

 
Total Aerospace & Defense

 

     6,059,706  
Air Freight & Logistics – 0.2%

 

XPO Logistics, Inc.*(a)

     28,416        1,385,280  
Airlines – 1.0%

 

Alaska Air Group, Inc.

     65,636        1,868,657  

Allegiant Travel Co.(a)

     8,219        672,314  

JetBlue Airways Corp.*(a)

     191,389        1,712,931  

SkyWest, Inc.

     33,156        868,356  

Spirit Airlines, Inc.*(a)

     59,681        769,288  
     

 

 

 
Total Airlines

 

     5,891,546  
Auto Components – 2.3%

 

BorgWarner, Inc.(a)

     122,365        2,982,035  

Dana, Inc.

     181,814        1,419,967  

Dorman Products, Inc.*(a)

     9,060        500,746  

Fox Factory Holding Corp.*(a)

     9,278        389,676  

Gentex Corp.

     96,694        2,142,739  

Goodyear Tire & Rubber Co. (The)

     169,937        989,033  

LCI Industries

     9,130        610,158  

Lear Corp.(a)

     47,312        3,844,100  

Visteon Corp.*(a)

     6,270        300,835  
     

 

 

 
Total Auto Components

 

     13,179,289  
Automobiles – 0.4%

 

Harley-Davidson, Inc.(a)

     76,209        1,442,636  

Thor Industries, Inc.

     21,009        886,160  
     

 

 

 
Total Automobiles

 

     2,328,796  
Banks – 11.9%

 

Ameris Bancorp

     28,976        688,470  

Associated Banc-Corp.

     94,108        1,203,641  

Atlantic Union Bankshares Corp.

     37,593        823,287  

BancorpSouth Bank

     44,302        838,194  

Bank of Hawaii Corp.(a)

     16,126        890,800  

Bank OZK

     85,546        1,428,618  

BankUnited, Inc.

     51,360        960,432  

BOK Financial Corp.(a)

     37,266        1,586,041  

Cathay General Bancorp

     46,530        1,067,863  

CenterState Bank Corp.

     60,974        1,050,582  

CIT Group, Inc.

     50,351        869,058  

Columbia Banking System, Inc.

     31,536        845,165  

Commerce Bancshares, Inc.(a)

     41,013        2,065,005  

Community Bank System, Inc.

     15,711        923,807  

Cullen/Frost Bankers, Inc.(a)

     31,298        1,746,115  

CVB Financial Corp.

     64,912      1,301,486  

East West Bancorp, Inc.

     88,950        2,289,573  

First Citizens BancShares, Inc. Class A

     5,387        1,793,171  

First Financial Bancorp

     53,200        793,212  

First Financial Bankshares, Inc.

     29,554        793,229  

First Hawaiian, Inc.

     65,012        1,074,648  

First Horizon National Corp.(a)

     179,258        1,444,819  

First Midwest Bancorp, Inc.

     59,997        794,060  

FNB Corp.

     191,758        1,413,256  

Fulton Financial Corp.

     83,215        956,140  

Glacier Bancorp, Inc.

     31,053        1,055,957  

Hancock Whitney Corp.

     46,046        898,818  

Home BancShares, Inc.

     97,511        1,169,157  

Iberiabank Corp.

     33,147        1,198,595  

Independent Bank Corp.

     13,291        855,542  

Independent Bank Group, Inc.

     22,271        527,377  

International Bancshares Corp.

     31,467        845,833  

Investors Bancorp, Inc.

     101,440        810,506  

Old National Bancorp

     79,374        1,046,943  

PacWest Bancorp

     80,449        1,441,646  

People’s United Financial, Inc.

     195,957        2,165,325  

Pinnacle Financial Partners, Inc.

     40,366        1,515,340  

Prosperity Bancshares, Inc.

     30,152        1,454,834  

Signature Bank

     30,043        2,415,157  

Simmons First National Corp. Class A(a)

     64,002        1,177,637  

South State Corp.(a)

     14,937        877,250  

Sterling Bancorp

     134,606        1,406,633  

Synovus Financial Corp.

     98,316        1,726,429  

TCF Financial Corp.(a)

     42,794        969,712  

Texas Capital Bancshares, Inc.*

     33,162        735,202  

UMB Financial Corp.

     18,295        848,522  

Umpqua Holdings Corp.

     131,353        1,431,748  

United Bankshares, Inc.(a)

     43,295        999,249  

United Community Banks, Inc.

     38,411        703,305  

Valley National Bancorp

     164,886        1,205,317  

Webster Financial Corp.

     48,559        1,112,001  

WesBanco, Inc.

     29,716        704,269  

Western Alliance Bancorp

     55,656        1,703,630  

Wintrust Financial Corp.

     32,593        1,071,006  

Zions Bancorp N.A.(a)

     104,563        2,798,106  
     

 

 

 
Total Banks

 

     66,511,718  
Beverages – 0.3%

 

Boston Beer Co., Inc. (The) Class A*(a)

     2,164        795,400  

National Beverage Corp.*(a)

     15,753        671,865  
     

 

 

 
Total Beverages

 

     1,467,265  
Biotechnology – 0.6%

 

Arrowhead Pharmaceuticals, Inc.*

     6,819        196,182  

Emergent BioSolutions, Inc.*

     1,472        85,170  

Exelixis, Inc.*

     162,599        2,799,955  

FibroGen, Inc.*(a)

     6,029        209,508  
     

 

 

 
Total Biotechnology

 

     3,290,815  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2020

 

 

 

Investments    Shares      Value  
Building Products – 1.6%

 

A.O. Smith Corp.(a)

     55,752      $ 2,107,983  

AAON, Inc.(a)

     6,684        322,971  

Armstrong World Industries, Inc.

     15,030        1,193,683  

Builders FirstSource, Inc.*

     61,467        751,741  

JELD-WEN Holding, Inc.*(a)

     34,577        336,434  

Owens Corning

     56,484        2,192,144  

Simpson Manufacturing Co., Inc.

     9,698        601,082  

Trex Co., Inc.*(a)

     10,033        804,045  

Universal Forest Products, Inc.

     23,684        880,808  
     

 

 

 
Total Building Products

 

     9,190,891  
Capital Markets – 2.3%

 

Cohen & Steers, Inc.

     10,072        457,772  

Eaton Vance Corp.

     58,102        1,873,789  

Evercore, Inc. Class A

     31,495        1,450,660  

Federated Hermes, Inc. Class B

     48,063        915,600  

Interactive Brokers Group, Inc. Class A

     21,951        947,625  

Legg Mason, Inc.

     35,390        1,728,802  

LPL Financial Holdings, Inc.

     42,368        2,306,090  

Morningstar, Inc.

     6,812        791,895  

Stifel Financial Corp.

     46,308        1,911,594  

Tradeweb Markets, Inc. Class A

     17,017        715,395  
     

 

 

 
Total Capital Markets

 

     13,099,222  
Chemicals – 3.2%

 

Albemarle Corp.(a)

     59,456        3,351,535  

Ashland Global Holdings, Inc.

     12,309        616,312  

Balchem Corp.

     4,988        492,415  

Cabot Corp.

     29,668        774,928  

Chemours Co. (The)

     148,488        1,317,089  

H.B. Fuller Co.(a)

     14,712        410,906  

Huntsman Corp.

     114,939        1,658,570  

Ingevity Corp.*

     14,576        513,075  

Innospec, Inc.

     7,399        514,156  

Mosaic Co. (The)(a)

     124,642        1,348,626  

NewMarket Corp.

     3,374        1,291,803  

Olin Corp.

     36,729        428,627  

PolyOne Corp.

     27,696        525,393  

Quaker Chemical Corp.

     2,703        341,335  

Scotts Miracle-Gro Co. (The)

     15,862        1,624,269  

Sensient Technologies Corp.

     13,454        585,384  

Valvoline, Inc.

     82,589        1,081,090  

W.R. Grace & Co.

     29,131        1,037,064  
     

 

 

 
Total Chemicals

 

     17,912,577  
Commercial Services & Supplies – 1.2%

 

ABM Industries, Inc.

     20,911        509,392  

Brady Corp. Class A

     14,725        664,539  

Brink’s Co. (The)(a)

     7,773        404,585  

Clean Harbors, Inc.*

     6,943        356,454  

Herman Miller, Inc.

     25,685        570,207  

IAA, Inc.*

     28,946        867,222  

KAR Auction Services, Inc.

     65,682        788,184  

MSA Safety, Inc.

     8,642        874,570  

Stericycle, Inc.*(a)

     2,751        133,644  

Tetra Tech, Inc.

     12,304      868,908  

UniFirst Corp.(a)

     5,434        821,023  
     

 

 

 
Total Commercial Services & Supplies

 

     6,858,728  
Communications Equipment – 0.8%

 

Acacia Communications, Inc.*

     2,074        139,331  

Ciena Corp.*

     45,729        1,820,472  

Juniper Networks, Inc.

     104,836        2,006,561  

Lumentum Holdings, Inc.*(a)

     4,767        351,328  

Viavi Solutions, Inc.*

     25,934        290,720  
     

 

 

 
Total Communications Equipment

 

     4,608,412  
Construction & Engineering – 1.3%

 

AECOM*

     67,724        2,021,561  

EMCOR Group, Inc.

     23,557        1,444,515  

MasTec, Inc.*(a)

     40,198        1,315,681  

Quanta Services, Inc.

     62,794        1,992,454  

Valmont Industries, Inc.

     6,548        693,957  
     

 

 

 
Total Construction & Engineering

 

     7,468,168  
Construction Materials – 0.2%

 

Eagle Materials, Inc.

     15,909        929,404  

Summit Materials, Inc. Class A*

     12,450        186,750  
     

 

 

 
Total Construction Materials

 

     1,116,154  
Consumer Finance – 2.6%

 

Credit Acceptance Corp.*(a)

     9,445        2,414,992  

FirstCash, Inc.

     13,301        954,214  

LendingTree, Inc.*(a)

     1,360        249,410  

Navient Corp.

     230,280        1,745,522  

OneMain Holdings, Inc.

     118,622        2,268,053  

Santander Consumer USA Holdings, Inc.

     269,571        3,749,733  

SLM Corp.(a)

     423,850        3,047,481  
     

 

 

 
Total Consumer Finance

 

     14,429,405  
Containers & Packaging – 2.0%

 

AptarGroup, Inc.

     16,299        1,622,402  

Berry Global Group, Inc.*

     63,421        2,137,922  

Graphic Packaging Holding Co.

     93,903        1,145,617  

Greif, Inc. Class A

     32,190        1,000,787  

Sealed Air Corp.

     52,516        1,297,670  

Silgan Holdings, Inc.

     66,797        1,938,449  

Sonoco Products Co.

     39,599        1,835,414  
     

 

 

 
Total Containers & Packaging

 

     10,978,261  
Distributors – 0.3%

 

Pool Corp.

     8,712        1,714,260  
Diversified Consumer Services – 1.3%

 

frontdoor, Inc.*

     21,911        762,065  

Graham Holdings Co. Class B

     1,405        479,344  

Grand Canyon Education, Inc.*

     18,719        1,427,979  

H&R Block, Inc.

     116,256        1,636,884  

Service Corp. International

     49,533        1,937,236  

ServiceMaster Global Holdings, Inc.*

     1,761        47,547  

Strategic Education, Inc.

     3,840        536,678  

WW International, Inc.*(a)

     23,211        392,498  
     

 

 

 
Total Diversified Consumer Services

 

     7,220,231  

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2020

 

 

 

Investments    Shares      Value  
Diversified Financial Services – 0.5%

 

Jefferies Financial Group, Inc.

     23,457      $ 320,657  

Voya Financial, Inc.(a)

     55,593        2,254,296  
     

 

 

 
Total Diversified Financial Services

 

     2,574,953  
Diversified Telecommunication Services – 0.6%

 

Cogent Communications Holdings, Inc.

     2,748        225,254  

GCI Liberty, Inc. Class A*

     50,683        2,887,410  
     

 

 

 
Total Diversified Telecommunication Services

 

     3,112,664  
Electric Utilities – 1.6%

 

ALLETE, Inc.

     12,460        756,073  

El Paso Electric Co.

     6,982        474,497  

Hawaiian Electric Industries, Inc.(a)

     26,356        1,134,626  

IDACORP, Inc.

     11,064        971,308  

MGE Energy, Inc.

     5,769        377,696  

OGE Energy Corp.

     62,396        1,917,429  

PG&E Corp.*(a)

     197,739        1,777,674  

PNM Resources, Inc.(a)

     14,705        558,790  

Portland General Electric Co.

     20,183        967,573  
     

 

 

 
Total Electric Utilities

 

     8,935,666  
Electrical Equipment – 2.0%

 

Acuity Brands, Inc.

     16,650        1,426,239  

EnerSys

     17,251        854,270  

Generac Holdings, Inc.*(a)

     16,943        1,578,579  

GrafTech International Ltd.

     515,753        4,187,914  

Hubbell, Inc.

     18,784        2,155,276  

Regal Beloit Corp.

     19,169        1,206,689  
     

 

 

 
Total Electrical Equipment

 

     11,408,967  
Electronic Equipment, Instruments & Components – 4.0%

 

Anixter International, Inc.*

     15,500        1,361,985  

Arrow Electronics, Inc.*

     62,546        3,244,261  

Avnet, Inc.

     46,006        1,154,751  

Belden, Inc.(a)

     20,188        728,383  

Cognex Corp.

     19,595        827,301  

Coherent, Inc.*(a)

     3,714        395,207  

Dolby Laboratories, Inc. Class A

     25,171        1,364,520  

FLIR Systems, Inc.

     29,694        946,942  

II-VI, Inc.*(a)

     13,480        384,180  

Insight Enterprises, Inc.*(a)

     16,681        702,770  

IPG Photonics Corp.*(a)

     12,074        1,331,521  

Itron, Inc.*

     5,937        331,463  

Jabil, Inc.

     71,532        1,758,256  

Littelfuse, Inc.

     6,262        835,476  

National Instruments Corp.

     21,154        699,774  

Rogers Corp.*(a)

     4,878        460,581  

SYNNEX Corp.

     27,267        1,993,218  

Tech Data Corp.*

     19,236        2,517,030  

Vishay Intertechnology, Inc.

     79,128        1,140,234  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     22,177,853  
Energy Equipment & Services – 0.1%

 

Helmerich & Payne, Inc.(a)

     21,681        339,308  
Entertainment – 0.1%

 

Cinemark Holdings, Inc.(a)

     55,068      561,143  

World Wrestling Entertainment, Inc. Class A(a)

     4,310        146,238  
     

 

 

 
Total Entertainment

 

     707,381  
Equity Real Estate Investment Trusts (REITs) – 4.4%

 

Acadia Realty Trust

     9,961        123,417  

Agree Realty Corp.

     6,509        402,907  

American Assets Trust, Inc.

     5,633        140,825  

American Campus Communities, Inc.

     11,914        330,614  

American Homes 4 Rent Class A

     15,897        368,810  

Americold Realty Trust

     19,301        657,006  

Apartment Investment & Management Co. Class A

     60,616        2,130,652  

Apple Hospitality REIT, Inc.(a)

     106,484        976,458  

Brandywine Realty Trust

     7,082        74,503  

Brixmor Property Group, Inc.

     79,007        750,567  

Columbia Property Trust, Inc.

     6,248        78,100  

CoreSite Realty Corp.

     4,561        528,620  

Corporate Office Properties Trust

     17,414        385,372  

Cousins Properties, Inc.

     9,787        286,466  

CubeSmart

     34,598        926,880  

Douglas Emmett, Inc.

     16,761        511,378  

EastGroup Properties, Inc.

     4,008        418,756  

Empire State Realty Trust, Inc. Class A

     27,436        245,827  

EPR Properties

     19,664        476,262  

First Industrial Realty Trust, Inc.

     29,705        987,097  

Healthcare Realty Trust, Inc.

     3,920        109,486  

Healthcare Trust of America, Inc. Class A

     29,775        722,937  

Highwoods Properties, Inc.

     20,066        710,738  

Hudson Pacific Properties, Inc.

     10,330        261,969  

Lamar Advertising Co. Class A

     27,733        1,422,148  

Lexington Realty Trust

     17,587        174,639  

Life Storage, Inc.

     9,984        943,987  

Macerich Co. (The)(a)

     37,726        212,397  

National Health Investors, Inc.

     13,573        672,135  

Outfront Media, Inc.

     42,284        569,988  

Paramount Group, Inc.

     3,107        27,342  

Park Hotels & Resorts, Inc.

     80,567        637,285  

Physicians Realty Trust

     16,888        235,419  

Piedmont Office Realty Trust, Inc. Class A

     15,855        279,999  

PotlatchDeltic Corp.

     6,372        200,017  

PS Business Parks, Inc.

     4,116        557,800  

QTS Realty Trust, Inc. Class A(a)

     271        15,721  

Rayonier, Inc.

     8,902        209,642  

Retail Properties of America, Inc. Class A

     28,810        148,948  

Rexford Industrial Realty, Inc.

     7,731        317,048  

RLJ Lodging Trust

     46,870        361,836  

Ryman Hospitality Properties, Inc.

     22,175        794,974  

Sabra Health Care REIT, Inc.

     40,006        436,866  

Service Properties Trust

     47,073        254,194  

SL Green Realty Corp.

     7,574        326,439  

Spirit Realty Capital, Inc.

     23,659        618,683  

STAG Industrial, Inc.

     9,356        210,697  

Sunstone Hotel Investors, Inc.

     44,207        385,043  

Terreno Realty Corp.

     4,766        246,641  

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Urban Edge Properties

     61,024      $ 537,621  

Washington Real Estate Investment Trust

     1,266        30,219  

Weingarten Realty Investors

     54,979        793,347  

Xenia Hotels & Resorts, Inc.

     43,524        448,297  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     24,675,019  
Food & Staples Retailing – 0.9%

 

BJ’s Wholesale Club Holdings, Inc.*(a)

     67,489        1,718,945  

Casey’s General Stores, Inc.

     9,299        1,232,025  

Grocery Outlet Holding Corp.*(a)

     4,030        138,390  

Performance Food Group Co.*

     27,314        675,202  

PriceSmart, Inc.

     7,427        390,289  

Sprouts Farmers Market, Inc.*

     49,751        924,871  
     

 

 

 
Total Food & Staples Retailing

 

     5,079,722  
Food Products – 1.8%

 

Darling Ingredients, Inc.*

     29,383        563,272  

Flowers Foods, Inc.

     62,689        1,286,378  

Hain Celestial Group, Inc. (The)*

     18,043        468,577  

Ingredion, Inc.

     33,504        2,529,552  

J&J Snack Foods Corp.

     2,980        360,580  

Lancaster Colony Corp.

     5,948        860,319  

Pilgrim’s Pride Corp.*(a)

     81,873        1,483,539  

Post Holdings, Inc.*(a)

     18,304        1,518,683  

Sanderson Farms, Inc.(a)

     1,522        187,693  

Simply Good Foods Co. (The)*

     11,202        215,750  

TreeHouse Foods, Inc.*

     9,785        432,008  
     

 

 

 
Total Food Products

 

     9,906,351  
Gas Utilities – 1.0%

 

National Fuel Gas Co.

     43,157        1,609,324  

New Jersey Resources Corp.(a)

     18,308        621,923  

ONE Gas, Inc.

     12,922        1,080,538  

South Jersey Industries, Inc.(a)

     18,433        460,825  

Southwest Gas Holdings, Inc.

     17,963        1,249,506  

Spire, Inc.(a)

     11,145        830,080  
     

 

 

 
Total Gas Utilities

 

     5,852,196  
Health Care Equipment & Supplies – 1.5%

 

Cantel Medical Corp.(a)

     7,048        253,023  

CONMED Corp.

     2,078        119,007  

Globus Medical, Inc. Class A*

     17,122        728,199  

Haemonetics Corp.*

     6,889        686,558  

Hill-Rom Holdings, Inc.

     14,091        1,417,554  

ICU Medical, Inc.*

     5,274        1,064,135  

Integer Holdings Corp.*

     9,542        599,810  

Integra LifeSciences Holdings Corp.*(a)

     13,631        608,897  

Masimo Corp.*

     7,389        1,308,740  

Neogen Corp.*

     5,706        382,245  

NuVasive, Inc.*

     5,277        267,333  

Penumbra, Inc.*(a)

     1,424        229,734  

Quidel Corp.*

     5,908        577,861  
     

 

 

 
Total Health Care Equipment & Supplies

 

     8,243,096  
Health Care Providers & Services – 2.8%

 

Acadia Healthcare Co., Inc.*(a)

     34,712        636,965  

Amedisys, Inc.*

     4,984        914,763  

AMN Healthcare Services, Inc.*

     14,784      854,663  

Chemed Corp.

     3,075        1,332,090  

Encompass Health Corp.

     39,699        2,541,927  

Ensign Group, Inc. (The)

     15,852        596,194  

HealthEquity, Inc.*(a)

     8,492        429,610  

LHC Group, Inc.*(a)

     5,277        739,836  

Molina Healthcare, Inc.*(a)

     40,878        5,711,066  

Premier, Inc. Class A*(a)

     32,435        1,061,273  

Select Medical Holdings Corp.*

     46,531        697,965  

Tenet Healthcare Corp.*(a)

     28,338        408,067  
     

 

 

 
Total Health Care Providers & Services

 

     15,924,419  
Health Care Technology – 0.1%

 

HMS Holdings Corp.*

     16,406        414,580  

Omnicell, Inc.*

     4,752        311,636  
     

 

 

 
Total Health Care Technology

 

     726,216  
Hotels, Restaurants & Leisure – 2.5%

 

Boyd Gaming Corp.

     36,666        528,724  

Choice Hotels International, Inc.

     14,518        889,227  

Churchill Downs, Inc.

     7,116        732,592  

Cracker Barrel Old Country Store, Inc.

     9,205        766,040  

Dunkin’ Brands Group, Inc.

     21,438        1,138,358  

Eldorado Resorts, Inc.*(a)

     11,673        168,091  

Hilton Grand Vacations, Inc.*

     51,857        817,785  

Hyatt Hotels Corp. Class A(a)

     59,747        2,861,881  

Marriott Vacations Worldwide Corp.

     22,178        1,232,653  

Penn National Gaming, Inc.*(a)

     35,130        444,395  

Planet Fitness, Inc. Class A*

     11,173        544,125  

SeaWorld Entertainment, Inc.*(a)

     25,102        276,624  

Six Flags Entertainment Corp.

     38,753        485,963  

Texas Roadhouse, Inc.

     17,877        738,320  

Wendy’s Co. (The)

     38,093        566,824  

Wingstop, Inc.

     1,522        121,303  

Wyndham Destinations, Inc.

     51,401        1,115,402  

Wyndham Hotels & Resorts, Inc.

     15,570        490,611  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     13,918,918  
Household Durables – 1.6%

 

KB Home(a)

     53,671        971,445  

Leggett & Platt, Inc.

     41,674        1,111,863  

MDC Holdings, Inc.

     36,269        841,441  

Meritage Homes Corp.*

     23,482        857,328  

Newell Brands, Inc.

     31,672        420,604  

Taylor Morrison Home Corp. Class A*

     83,985        923,835  

Tempur Sealy International, Inc.*

     18,813        822,316  

Toll Brothers, Inc.

     107,804        2,075,227  

TopBuild Corp.*

     11,658        835,179  
     

 

 

 
Total Household Durables

 

     8,859,238  
Household Products – 0.2%

 

Energizer Holdings, Inc.

     20,903        632,316  

Spectrum Brands Holdings, Inc.

     8,618        313,436  

WD-40 Co.

     2,100        421,785  
     

 

 

 
Total Household Products

 

     1,367,537  

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2020

 

 

 

Investments    Shares      Value  
Independent Power & Renewable Electricity Producers – 0.1%

 

Ormat Technologies, Inc.

     8,828      $ 597,302  
Insurance – 5.1%

 

American Equity Investment Life Holding Co.

     18,067        339,660  

American National Insurance Co.

     13,584        1,119,050  

Assurant, Inc.

     13,523        1,407,609  

Brighthouse Financial, Inc.*

     257,790        6,230,784  

Erie Indemnity Co. Class A

     12,085        1,791,480  

First American Financial Corp.

     63,499        2,692,993  

Hanover Insurance Group, Inc. (The)

     13,169        1,192,848  

Kemper Corp.

     31,151        2,316,700  

Mercury General Corp.

     29,994        1,221,356  

National General Holdings Corp.

     83,600        1,383,580  

Old Republic International Corp.

     128,465        1,959,091  

Primerica, Inc.

     16,740        1,481,155  

RLI Corp.

     9,508        836,039  

Selective Insurance Group, Inc.

     22,329        1,109,751  

Unum Group

     224,131        3,364,206  
     

 

 

 
Total Insurance

 

     28,446,302  
Interactive Media & Services – 0.7%

 

Cargurus, Inc.*(a)

     7,252        137,353  

Match Group, Inc.*(a)

     48,960        3,233,318  

TripAdvisor, Inc.(a)

     28,022        487,302  

Yelp, Inc.*(a)

     8,553        154,211  
     

 

 

 
Total Interactive Media & Services

 

     4,012,184  
Internet & Direct Marketing Retail – 0.1%

 

Etsy, Inc.*(a)

     9,057        348,151  

GrubHub, Inc.*(a)

     205        8,350  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     356,501  
IT Services – 1.6%

 

Alliance Data Systems Corp.

     31,695        1,066,537  

CACI International, Inc. Class A*(a)

     8,170        1,725,096  

Euronet Worldwide, Inc.*

     13,909        1,192,279  

ExlService Holdings, Inc.*

     4,952        257,653  

KBR, Inc.

     37,759        780,856  

MAXIMUS, Inc.

     21,406        1,245,829  

Perspecta, Inc.

     43,401        791,634  

Sabre Corp.

     63,874        378,773  

Science Applications International Corp.

     19,237        1,435,657  
     

 

 

 
Total IT Services

 

     8,874,314  
Leisure Products – 0.5%

 

Brunswick Corp.

     39,389        1,393,189  

Polaris, Inc.

     21,791        1,049,237  

YETI Holdings, Inc.*(a)

     11,905        232,385  
     

 

 

 
Total Leisure Products

 

     2,674,811  
Life Sciences Tools & Services – 1.0%

 

Bio-Techne Corp.

     3,355        636,175  

Bruker Corp.

     27,917        1,001,104  

Charles River Laboratories International, Inc.*

     10,702        1,350,699  

Medpace Holdings, Inc.*(a)

     7,798        572,217  

NeoGenomics, Inc.*

     1,097        30,288  

PRA Health Sciences, Inc.*

     15,417      1,280,228  

Repligen Corp.*

     1,737        167,690  

Syneos Health, Inc.*

     16,334        643,886  
     

 

 

 
Total Life Sciences Tools & Services

 

     5,682,287  
Machinery – 5.7%

 

AGCO Corp.

     34,125        1,612,406  

Albany International Corp. Class A

     9,927        469,845  

Allison Transmission Holdings, Inc.

     76,230        2,485,860  

Barnes Group, Inc.

     17,954        751,016  

Colfax Corp.*(a)

     19,592        387,922  

Crane Co.

     26,933        1,324,565  

Donaldson Co., Inc.

     32,767        1,265,789  

ESCO Technologies, Inc.

     6,820        517,706  

Flowserve Corp.

     33,827        808,127  

Franklin Electric Co., Inc.

     11,953        563,345  

Graco, Inc.

     42,237        2,058,209  

Hillenbrand, Inc.

     27,940        533,933  

Ingersoll Rand, Inc.*

     49,328        1,223,334  

ITT, Inc.

     28,829        1,307,683  

John Bean Technologies Corp.(a)

     8,957        665,236  

Kennametal, Inc.

     34,916        650,136  

Lincoln Electric Holdings, Inc.

     19,879        1,371,651  

Middleby Corp. (The)*(a)

     19,605        1,115,132  

Navistar International Corp.*

     117,048        1,930,122  

Oshkosh Corp.

     42,373        2,725,855  

Proto Labs, Inc.*(a)

     4,404        335,277  

RBC Bearings, Inc.*

     4,766        537,557  

Rexnord Corp.

     35,637        807,891  

Timken Co. (The)

     40,550        1,311,387  

Toro Co. (The)

     19,831        1,290,800  

Trinity Industries, Inc.

     12,597        202,434  

WABCO Holdings, Inc.*

     15,203        2,053,165  

Watts Water Technologies, Inc. Class A

     8,725        738,571  

Welbilt, Inc.*(a)

     32,365        166,033  

Woodward, Inc.(a)

     16,017        952,051  
     

 

 

 
Total Machinery

 

     32,163,038  
Marine – 0.1%

 

Kirby Corp.*(a)

     14,397        625,838  
Media – 1.7%

 

Interpublic Group of Cos., Inc. (The)

     196,659        3,183,909  

John Wiley & Sons, Inc. Class A

     21,214        795,313  

New York Times Co. (The) Class A

     25,473        782,276  

News Corp. Class A(a)

     144,922        1,300,675  

Nexstar Media Group, Inc. Class A(a)

     13,930        804,179  

Sinclair Broadcast Group, Inc. Class A(a)

     56,340        905,947  

TEGNA, Inc.(a)

     141,662        1,538,449  
     

 

 

 
Total Media

 

     9,310,748  
Metals & Mining – 1.7%

 

Alcoa Corp.*

     74,067        456,253  

Allegheny Technologies, Inc.*(a)

     66,385        564,272  

Carpenter Technology Corp.

     21,622        421,629  

Commercial Metals Co.

     65,447        1,033,408  

 

See Notes to Financial Statements.

 

54   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Reliance Steel & Aluminum Co.

     32,206      $ 2,820,924  

Royal Gold, Inc.

     7,775        681,945  

Steel Dynamics, Inc.

     152,666        3,441,092  
     

 

 

 
Total Metals & Mining

 

     9,419,523  
Multi-Utilities – 0.7%

 

Avista Corp.

     15,139        643,256  

Black Hills Corp.

     16,778        1,074,296  

MDU Resources Group, Inc.

     69,230        1,488,445  

NorthWestern Corp.

     15,417        922,399  
     

 

 

 
Total Multi-Utilities

 

     4,128,396  
Multiline Retail – 0.9%

 

Kohl’s Corp.(a)

     115,730        1,688,501  

Macy’s, Inc.(a)

     348,648        1,711,862  

Nordstrom, Inc.

     80,079        1,228,412  

Ollie’s Bargain Outlet Holdings, Inc.*(a)

     12,592        583,513  
     

 

 

 
Total Multiline Retail

 

     5,212,288  
Oil, Gas & Consumable Fuels – 3.0%

 

Apache Corp.

     88,618        370,423  

Cabot Oil & Gas Corp.

     293,954        5,053,069  

Cimarex Energy Co.

     76,136        1,281,369  

CVR Energy, Inc.

     72,183        1,193,185  

Delek U.S. Holdings, Inc.(a)

     73,724        1,161,890  

Devon Energy Corp.

     252,187        1,742,612  

Equitrans Midstream Corp.(a)

     10,747        54,057  

HollyFrontier Corp.

     127,709        3,130,148  

Kosmos Energy Ltd.

     84,632        75,796  

Murphy Oil Corp.(a)

     71,427        437,847  

Parsley Energy, Inc. Class A

     85,346        489,033  

World Fuel Services Corp.

     36,671        923,376  

WPX Energy, Inc.*(a)

     285,591        871,053  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     16,783,858  
Paper & Forest Products – 0.1%

 

Louisiana-Pacific Corp.

     17,182        295,187  
Pharmaceuticals – 0.2%

 

Catalent, Inc.*

     21,305        1,106,795  
Professional Services – 1.4%

 

ASGN, Inc.*

     17,429        615,592  

CoreLogic, Inc.

     13,943        425,819  

Exponent, Inc.

     7,388        531,271  

FTI Consulting, Inc.*(a)

     12,862        1,540,482  

Insperity, Inc.

     12,089        450,920  

ManpowerGroup, Inc.

     33,616        1,781,312  

Robert Half International, Inc.

     48,403        1,827,213  

TriNet Group, Inc.*

     25,557        962,477  
     

 

 

 
Total Professional Services

 

     8,135,086  
Real Estate Management & Development – 0.4%

 

Howard Hughes Corp. (The)*(a)

     3,020        152,570  

Jones Lang LaSalle, Inc.(a)

     19,657        1,984,964  

Kennedy-Wilson Holdings, Inc.

     21,033        282,263  
     

 

 

 
Total Real Estate Management & Development

 

     2,419,797  
Road & Rail – 1.4%

 

AMERCO(a)

     6,544      1,901,359  

Knight-Swift Transportation Holdings, Inc.(a)

     66,631        2,185,497  

Landstar System, Inc.(a)

     14,449        1,385,081  

Ryder System, Inc.

     24,224        640,482  

Saia, Inc.*(a)

     8,514        626,120  

Werner Enterprises, Inc.

     30,245        1,096,684  
     

 

 

 
Total Road & Rail

 

     7,835,223  
Semiconductors & Semiconductor Equipment – 1.2%

 

Advanced Energy Industries, Inc.*

     4,465        216,508  

Amkor Technology, Inc.*

     44,125        343,734  

Cabot Microelectronics Corp.

     5,279        602,545  

Cirrus Logic, Inc.*

     10,331        678,024  

Diodes, Inc.*

     17,710        719,646  

Enphase Energy, Inc.*(a)

     12,284        396,650  

Entegris, Inc.

     21,086        944,020  

Lattice Semiconductor Corp.*

     11,155        198,782  

MKS Instruments, Inc.

     12,887        1,049,646  

Monolithic Power Systems, Inc.

     4,377        732,972  

Power Integrations, Inc.

     2,920        257,924  

Semtech Corp.*

     6,465        242,437  

Silicon Laboratories, Inc.*

     1,632        139,389  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     6,522,277  
Software – 1.2%

 

ACI Worldwide, Inc.*

     13,270        320,470  

Alteryx, Inc. Class A*(a)

     1,475        140,376  

Aspen Technology, Inc.*

     14,143        1,344,575  

Blackbaud, Inc.

     1,898        105,434  

CDK Global, Inc.

     38,192        1,254,607  

CommVault Systems, Inc.*

     2,582        104,519  

j2 Global, Inc.(a)

     10,872        813,769  

LogMeIn, Inc.

     1,832        152,569  

Manhattan Associates, Inc.*

     8,235        410,268  

Nuance Communications, Inc.*

     40,794        684,523  

Paylocity Holding Corp.*

     3,391        299,493  

Qualys, Inc.*(a)

     5,045        438,865  

RealPage, Inc.*(a)

     6,735        356,484  

Teradata Corp.*

     6,197        126,977  

Verint Systems, Inc.*

     7,847        337,421  

Zoom Video Communications, Inc. Class A*

     853        124,640  
     

 

 

 
Total Software

 

     7,014,990  
Specialty Retail – 3.4%

 

Aaron’s, Inc.

     25,407        578,771  

American Eagle Outfitters, Inc.

     115,841        920,936  

AutoNation, Inc.*

     47,447        1,331,363  

Dick’s Sporting Goods, Inc.

     40,666        864,559  

Five Below, Inc.*(a)

     7,972        561,069  

Floor & Decor Holdings, Inc. Class A*(a)

     17,875        573,609  

Foot Locker, Inc.

     92,111        2,031,048  

Gap, Inc. (The)

     383,238        2,697,996  

L Brands, Inc.(a)

     264,478        3,057,366  

Lithia Motors, Inc. Class A(a)

     10,623        868,855  

 

See Notes to Financial Statements.

 

WisdomTree Trust      55  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Monro, Inc.

     6,276      $ 274,952  

Murphy USA, Inc.*(a)

     11,232        947,532  

National Vision Holdings, Inc.*

     5,008        97,255  

Penske Automotive Group, Inc.

     55,613        1,557,164  

RH*

     5,466        549,169  

Urban Outfitters, Inc.*(a)

     63,206        900,053  

Williams-Sonoma, Inc.

     33,549        1,426,503  
     

 

 

 
Total Specialty Retail

 

     19,238,200  
Technology Hardware, Storage & Peripherals – 0.7%

 

NCR Corp.*(a)

     27,904        493,901  

Xerox Holdings Corp.

     168,437        3,190,197  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     3,684,098  
Textiles, Apparel & Luxury Goods – 2.8%

 

Carter’s, Inc.

     19,022        1,250,316  

Columbia Sportswear Co.(a)

     24,490        1,708,667  

Deckers Outdoor Corp.*

     11,785        1,579,190  

Hanesbrands, Inc.(a)

     317,185        2,496,246  

PVH Corp.

     32,632        1,228,269  

Ralph Lauren Corp.(a)

     33,422        2,233,592  

Skechers U.S.A., Inc. Class A*

     55,242        1,311,445  

Steven Madden Ltd.

     22,327        518,656  

Tapestry, Inc.

     158,928        2,058,118  

Under Armour, Inc. Class A*(a)

     48,791        449,365  

Wolverine World Wide, Inc.

     41,628        632,746  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     15,466,610  
Thrifts & Mortgage Finance – 1.6%

 

MGIC Investment Corp.

     285,396        1,812,265  

New York Community Bancorp, Inc.(a)

     194,780        1,828,984  

NMI Holdings, Inc. Class A*

     31,399        364,542  

PennyMac Financial Services, Inc.

     56,464        1,248,419  

Radian Group, Inc.

     164,777        2,133,862  

TFS Financial Corp.

     24,681        376,879  

Washington Federal, Inc.

     37,672        977,965  

WSFS Financial Corp.

     17,864        445,171  
     

 

 

 
Total Thrifts & Mortgage Finance

 

     9,188,087  
Trading Companies & Distributors – 1.7%

 

Air Lease Corp.(a)

     78,604      1,740,292  

Applied Industrial Technologies, Inc.

     16,248        742,859  

GATX Corp.(a)

     11,832        740,210  

HD Supply Holdings, Inc.*

     76,684        2,180,126  

MSC Industrial Direct Co., Inc. Class A

     26,012        1,429,880  

SiteOne Landscape Supply, Inc.*(a)

     6,923        509,671  

Univar Solutions, Inc.*(a)

     60,230        645,666  

Watsco, Inc.(a)

     8,977        1,418,635  
     

 

 

 
Total Trading Companies & Distributors

 

     9,407,339  
Transportation Infrastructure – 0.1%

 

Macquarie Infrastructure Corp.

     11,305        285,451  
Water Utilities – 0.2%

 

American States Water Co.

     6,173        504,581  

California Water Service Group

     8,465        425,959  
     

 

 

 
Total Water Utilities

 

     930,540  
Wireless Telecommunication Services – 0.1%

 

Telephone & Data Systems, Inc.

     31,393        526,147  

TOTAL COMMON STOCKS

(Cost: $792,337,970)

 

 

     558,863,445  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree U.S. MidCap Dividend Fund(b)
(Cost: $1,110,594)
     33,998        821,392  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 8.7%

 

United States – 8.7%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(c)

 

  
(Cost: $48,722,575)      48,722,575        48,722,575  

TOTAL INVESTMENTS IN SECURITIES – 108.5%

(Cost: $842,171,139)

 

 

     608,407,412  

Other Assets less Liabilities – (8.5)%

 

     (47,798,688
     

 

 

 
NET ASSETS – 100.0%

 

   $ 560,608,724  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $92,522,264 and the total market value of the collateral held by the Fund was $97,113,961. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $48,391,386.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. MidCap Dividend Fund

  $ 3,984,501     $ 9,142,216     $ 11,482,942     $ (349,239   $ (473,144   $ 821,392     $ 114,115  

 

See Notes to Financial Statements.

 

56   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. Multifactor Fund (USMF)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%      
United States – 99.8%      
Aerospace & Defense – 1.7%      

Arconic, Inc.

     25,876      $ 415,568  

L3Harris Technologies, Inc.

     3,582        645,190  

Lockheed Martin Corp.

     2,240        759,248  

Raytheon Co.

     4,118        540,076  
     

 

 

 
Total Aerospace & Defense               2,360,082  
Banks – 0.7%      

First Citizens BancShares, Inc. Class A

     2,824        940,025  
Beverages – 0.4%      

Coca-Cola Co. (The)

     11,985        530,336  
Biotechnology – 3.6%      

AbbVie, Inc.

     5,968        454,702  

Alexion Pharmaceuticals, Inc.*

     4,516        405,492  

Amgen, Inc.

     3,243        657,453  

Biogen, Inc.*

     1,238        391,678  

Exelixis, Inc.*

     19,249        331,468  

Gilead Sciences, Inc.

     8,715        651,533  

Incyte Corp.*

     5,920        433,522  

Neurocrine Biosciences, Inc.*

     3,997        345,940  

Regeneron Pharmaceuticals, Inc.*

     974        475,595  

United Therapeutics Corp.*

     4,316        409,265  

Vertex Pharmaceuticals, Inc.*

     2,132        507,309  
     

 

 

 
Total Biotechnology               5,063,957  
Building Products – 0.8%      

Armstrong World Industries, Inc.

     7,394        587,231  

Masco Corp.

     13,968        482,874  
     

 

 

 
Total Building Products               1,070,105  
Capital Markets – 1.4%      

CBOE Global Markets, Inc.

     10,616        947,478  

Nasdaq, Inc.

     10,741        1,019,858  
     

 

 

 
Total Capital Markets               1,967,336  
Chemicals – 0.8%      

NewMarket Corp.

     1,738        665,428  

Scotts Miracle-Gro Co. (The)

     4,016        411,238  
     

 

 

 
Total Chemicals               1,076,666  
Commercial Services & Supplies – 2.0%      

Cintas Corp.

     2,604        451,065  

Copart, Inc.*

     8,212        562,686  

MSA Safety, Inc.

     5,456        552,147  

Republic Services, Inc.

     8,611        646,342  

Waste Management, Inc.

     6,945        642,829  
Total Commercial Services & Supplies               2,855,069  
Communications Equipment – 1.3%      

Ciena Corp.*

     17,148        682,662  

Motorola Solutions, Inc.

     8,933        1,187,374  
     

 

 

 
Total Communications Equipment               1,870,036  
Construction & Engineering – 0.4%      

Quanta Services, Inc.

     17,575        557,655  
Consumer Finance – 1.2%      

OneMain Holdings, Inc.

     21,277      406,816  

Santander Consumer USA Holdings, Inc.

     43,889        610,496  

Synchrony Financial

     39,312        632,530  
     

 

 

 
Total Consumer Finance

 

     1,649,842  
Containers & Packaging – 1.1%

 

AptarGroup, Inc.

     6,771        673,985  

Ball Corp.

     7,209        466,134  

Crown Holdings, Inc.*

     7,653        444,180  
     

 

 

 
Total Containers & Packaging

 

     1,584,299  
Distributors – 0.6%

 

Pool Corp.

     4,316        849,259  
Diversified Consumer Services – 1.1%

 

H&R Block, Inc.

     47,622        670,518  

Service Corp. International

     21,652        846,810  
     

 

 

 
Total Diversified Consumer Services

 

     1,517,328  
Diversified Telecommunication Services – 3.4%

 

AT&T, Inc.

     42,641        1,242,985  

CenturyLink, Inc.

     66,590        629,942  

GCI Liberty, Inc. Class A*

     22,490        1,281,255  

Verizon Communications, Inc.

     30,008        1,612,330  
     

 

 

 
Total Diversified Telecommunication Services

 

     4,766,512  
Electric Utilities – 1.6%

 

Entergy Corp.

     4,948        464,964  

Evergy, Inc.

     8,726        480,366  

NRG Energy, Inc.

     14,925        406,856  

Pinnacle West Capital Corp.

     5,950        450,950  

Portland General Electric Co.

     10,122        485,249  
     

 

 

 
Total Electric Utilities

 

     2,288,385  
Electrical Equipment – 0.7%

 

Generac Holdings, Inc.*

     4,273        398,115  

Hubbell, Inc.

     5,282        606,057  
     

 

 

 
Total Electrical Equipment

 

     1,004,172  
Electronic Equipment, Instruments & Components – 0.4%

 

SYNNEX Corp.

     7,518        549,566  
Entertainment – 2.1%

 

Electronic Arts, Inc.*

     10,446        1,046,376  

Take-Two Interactive Software, Inc.*

     7,681        911,043  

Zynga, Inc. Class A*

     147,207        1,008,368  
     

 

 

 
Total Entertainment

 

     2,965,787  
Equity Real Estate Investment Trusts (REITs) – 2.4%

 

EPR Properties

     10,864        263,126  

Federal Realty Investment Trust

     4,878        363,948  

Kimco Realty Corp.

     31,651        306,065  

Life Storage, Inc.

     4,795        453,367  

National Retail Properties, Inc.

     10,769        346,654  

Regency Centers Corp.

     9,617        369,581  

Sun Communities, Inc.

     3,330        415,751  

VICI Properties, Inc.

     27,144        451,676  

Vornado Realty Trust

     11,183        404,937  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     3,375,105  

 

See Notes to Financial Statements.

 

WisdomTree Trust      57  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Multifactor Fund (USMF)

March 31, 2020

 

 

 

Investments    Shares      Value  
Food & Staples Retailing – 1.5%      

Casey’s General Stores, Inc.

     2,840      $ 376,272  

Kroger Co. (The)

     12,662        381,379  

Sysco Corp.

     9,646        440,147  

U.S. Foods Holding Corp.*

     18,215        322,588  

Walmart, Inc.

     5,389        612,298  
     

 

 

 
Total Food & Staples Retailing               2,132,684  
Food Products – 3.1%      

Campbell Soup Co.

     11,365        524,609  

Darling Ingredients, Inc.*

     18,136        347,667  

Flowers Foods, Inc.

     28,990        594,875  

General Mills, Inc.

     11,078        584,586  

Hershey Co. (The)

     3,960        524,700  

J.M. Smucker Co. (The)

     5,323        590,853  

Lamb Weston Holdings, Inc.

     6,660        380,286  

Mondelez International, Inc. Class A

     11,366        569,209  

Pilgrim’s Pride Corp.*

     16,802        304,452  
     

 

 

 
Total Food Products               4,421,237  
Health Care Equipment & Supplies – 2.6%      

ABIOMED, Inc.*

     1,779        258,240  

Baxter International, Inc.

     8,050        653,579  

Cooper Cos., Inc. (The)

     2,240        617,501  

Dentsply Sirona, Inc.

     11,407        442,934  

Haemonetics Corp.*

     4,156        414,187  

Hologic, Inc.*

     16,625        583,537  

West Pharmaceutical Services, Inc.

     4,395        669,139  
     

 

 

 
Total Health Care Equipment & Supplies               3,639,117  
Health Care Providers & Services – 4.2%      

Amedisys, Inc.*

     2,461        451,692  

Anthem, Inc.

     1,658        376,432  

Chemed Corp.

     1,797        778,461  

Cigna Corp.

     2,206        390,859  

DaVita, Inc.*

     6,455        490,967  

Henry Schein, Inc.*

     12,058        609,170  

Humana, Inc.

     1,412        443,396  

Laboratory Corp. of America Holdings*

     3,977        502,653  

Molina Healthcare, Inc.*

     2,716        379,452  

Quest Diagnostics, Inc.

     6,806        546,522  

UnitedHealth Group, Inc.

     1,802        449,383  

Universal Health Services, Inc. Class B

     5,134        508,677  
     

 

 

 
Total Health Care Providers & Services               5,927,664  
Health Care Technology – 0.4%      

Cerner Corp.

     9,461        595,948  
Hotels, Restaurants & Leisure – 1.3%      

McDonald’s Corp.

     5,932        980,856  

Yum! Brands, Inc.

     12,703        870,537  
     

 

 

 
Total Hotels, Restaurants & Leisure               1,851,393  
Household Durables – 1.7%      

D.R. Horton, Inc.

     19,152        651,168  

Lennar Corp. Class A

     16,197        618,725  

NVR, Inc.*

     222        570,343  

PulteGroup, Inc.

     24,475      546,282  
     

 

 

 
Total Household Durables               2,386,518  
Household Products – 1.6%      

Clorox Co. (The)

     3,437        595,460  

Colgate-Palmolive Co.

     8,586        569,767  

Kimberly-Clark Corp.

     4,266        545,494  

Procter & Gamble Co. (The)

     5,388        592,680  
     

 

 

 
Total Household Products               2,303,401  
Independent Power & Renewable Electricity Producers – 0.3%

 

Vistra Energy Corp.

     22,715        362,531  
Industrial Conglomerates – 0.4%      

Carlisle Cos., Inc.

     4,495        563,134  
Insurance – 7.1%      

Alleghany Corp.

     1,821        1,005,829  

Allstate Corp. (The)

     13,386        1,227,898  

American Financial Group, Inc.

     14,405        1,009,502  

Brown & Brown, Inc.

     27,612        1,000,107  

Fidelity National Financial, Inc.

     33,944        844,527  

First American Financial Corp.

     21,938        930,390  

Hartford Financial Services Group, Inc. (The)

     28,557        1,006,349  

Markel Corp.*

     1,164        1,080,064  

Progressive Corp. (The)

     13,299        981,998  

Travelers Cos., Inc. (The)

     10,122        1,005,621  
     

 

 

 
Total Insurance               10,092,285  
Internet & Direct Marketing Retail – 0.7%      

eBay, Inc.

     21,073        633,455  

Expedia Group, Inc.

     5,779        325,184  
     

 

 

 
Total Internet & Direct Marketing Retail               958,639  
IT Services – 12.8%      

Akamai Technologies, Inc.*

     16,143        1,476,923  

Black Knight, Inc.*

     24,546        1,425,141  

Booz Allen Hamilton Holding Corp.

     21,728        1,491,410  

CACI International, Inc. Class A*

     6,194        1,307,863  

Cognizant Technology Solutions Corp. Class A

     22,389        1,040,417  

EPAM Systems, Inc.*

     4,701        872,788  

Euronet Worldwide, Inc.*

     12,111        1,038,155  

FleetCor Technologies, Inc.*

     5,086        948,742  

Gartner, Inc.*

     8,825        878,705  

GoDaddy, Inc. Class A*

     14,879        849,740  

Jack Henry & Associates, Inc.

     9,870        1,532,219  

Leidos Holdings, Inc.

     13,537        1,240,666  

Perspecta, Inc.

     40,018        729,928  

Square, Inc. Class A*

     11,184        585,818  

Visa, Inc. Class A

     8,655        1,394,493  

Western Union Co. (The)

     70,229        1,273,252  
     

 

 

 
Total IT Services               18,086,260  
Life Sciences Tools & Services – 1.1%      

Bio-Rad Laboratories, Inc. Class A*

     1,148        402,443  

Charles River Laboratories International, Inc.*

     3,428        432,648  

Syneos Health, Inc.*

     5,271        207,783  

Waters Corp.*

     2,928        533,042  
     

 

 

 
Total Life Sciences Tools & Services               1,575,916  

 

See Notes to Financial Statements.

 

58   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Multifactor Fund (USMF)

March 31, 2020

 

 

 

Investments    Shares      Value  
Machinery – 1.1%      

Allison Transmission Holdings, Inc.

     15,332      $ 499,976  

Cummins, Inc.

     4,525        612,323  

Oshkosh Corp.

     7,036        452,626  
     

 

 

 
Total Machinery               1,564,925  
Media – 5.7%      

Cable One, Inc.

     946        1,555,233  

Charter Communications, Inc. Class A*

     3,501        1,527,521  

Discovery, Inc. Class A*(a)

     36,681        713,079  

Interpublic Group of Cos., Inc. (The)

     67,503        1,092,874  

New York Times Co. (The) Class A

     25,750        790,783  

Omnicom Group, Inc.

     22,968        1,260,943  

Sirius XM Holdings, Inc.(a)

     222,264        1,097,984  
     

 

 

 
Total Media               8,038,417  
Metals & Mining – 0.7%      

Newmont Corp.

     11,974        542,183  

Reliance Steel & Aluminum Co.

     5,338        467,555  
     

 

 

 
Total Metals & Mining               1,009,738  
Multi-Utilities – 1.4%      

CMS Energy Corp.

     8,232        483,630  

MDU Resources Group, Inc.

     20,298        436,407  

NiSource, Inc.

     21,091        526,642  

Public Service Enterprise Group, Inc.

     10,815        485,702  
     

 

 

 
Total Multi-Utilities               1,932,381  
Multiline Retail – 0.4%      

Target Corp.

     5,769        536,344  
Oil, Gas & Consumable Fuels – 3.8%      

Cabot Oil & Gas Corp.

     87,705        1,507,649  

ConocoPhillips

     45,281        1,394,655  

Continental Resources, Inc.(a)

     149,852        1,144,869  

HollyFrontier Corp.

     56,861        1,393,663  
     

 

 

 
Total Oil, Gas & Consumable Fuels               5,440,836  
Pharmaceuticals – 2.9%      

Bristol-Myers Squibb Co.

     10,617        591,792  

Eli Lilly & Co.

     5,111        708,998  

Johnson & Johnson

     5,840        765,799  

Merck & Co., Inc.

     10,186        783,711  

Pfizer, Inc.

     21,293        695,003  

Zoetis, Inc.

     5,268        619,991  
     

 

 

 
Total Pharmaceuticals               4,165,294  
Professional Services – 0.7%      

CoStar Group, Inc.*

     700        411,047  

FTI Consulting, Inc.*

     4,759        569,985  
     

 

 

 
Total Professional Services               981,032  
Real Estate Management & Development – 0.3%      

CBRE Group, Inc. Class A*

     9,471        357,151  
Road & Rail – 0.4%      

Landstar System, Inc.

     6,043        579,282  
Semiconductors & Semiconductor Equipment – 2.0%

 

Enphase Energy, Inc.*

     14,347        463,265  

Intel Corp.

     20,105      1,088,082  

Qorvo, Inc.*

     8,632        695,998  

QUALCOMM, Inc.

     9,595        649,102  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     2,896,447  
Software – 8.8%      

Adobe, Inc.*

     3,977        1,265,640  

Citrix Systems, Inc.

     15,125        2,140,944  

Fair Isaac Corp.*

     2,977        915,993  

Fortinet, Inc.*

     10,008        1,012,509  

j2 Global, Inc.

     16,702        1,250,145  

Microsoft Corp.

     9,155        1,443,835  

NortonLifeLock, Inc.

     59,751        1,117,941  

Nuance Communications, Inc.*

     57,247        960,605  

Oracle Corp.

     32,781        1,584,306  

RealPage, Inc.*

     15,188        803,901  
     

 

 

 
Total Software

 

     12,495,819  
Specialty Retail – 2.6%

 

AutoZone, Inc.*

     864        730,944  

Best Buy Co., Inc.

     9,115        519,555  

O’Reilly Automotive, Inc.*

     2,464        741,787  

Tractor Supply Co.

     10,372        876,953  

Ulta Beauty, Inc.*

     1,913        336,114  

Williams-Sonoma, Inc.

     10,457        444,632  
     

 

 

 
Total Specialty Retail

 

     3,649,985  
Technology Hardware, Storage & Peripherals – 0.5%

 

Xerox Holdings Corp.

     36,273        687,011  
Textiles, Apparel & Luxury Goods – 0.6%

 

Deckers Outdoor Corp.*

     3,657        490,038  

Hanesbrands, Inc.(a)

     54,014        425,090  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     915,128  
Thrifts & Mortgage Finance – 0.5%

 

MGIC Investment Corp.

     107,259        681,095  
Tobacco – 0.3%

 

Altria Group, Inc.

     11,893        459,902  
Trading Companies & Distributors – 0.6%

 

HD Supply Holdings, Inc.*

     20,186        573,888  

SiteOne Landscape Supply, Inc.*

     4,109        302,505  
     

 

 

 
Total Trading Companies & Distributors

 

     876,393  
TOTAL COMMON STOCKS
(Cost: $163,136,094)

 

     141,005,429  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.7%

 

United States – 1.7%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(b)

     
(Cost: $2,475,192)      2,475,192        2,475,192  

TOTAL INVESTMENTS IN SECURITIES – 101.5%

(Cost: $165,611,286)

 

 

     143,480,621  

Other Assets less Liabilities – (1.5)%

 

     (2,173,007
     

 

 

 
NET ASSETS – 100.0%

 

   $ 141,307,614  

 

See Notes to Financial Statements.

 

WisdomTree Trust      59  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. Multifactor Fund (USMF)

March 31, 2020

 

 

* 

Non-income producing security.

 

(a)

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $2,849,016 and the total market value of the collateral held by the Fund was $2,988,051. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $512,859.

 

(b)

Rate shown represents annualized 7-day yield as of March 31, 2020.

    

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. Quality Dividend Growth Fund^

  $     $ 1,763,363     $ 1,772,011     $ 8,648     $   $   $ 3,290  

 

^ 

As of March 31, 2020, the Fund did not hold a position in this affiliate.

 

See Notes to Financial Statements.

 

60   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

United States – 99.7%

 

Aerospace & Defense – 3.1%

 

BWX Technologies, Inc.

     22,153      $        1,079,073  

Curtiss-Wright Corp.

     5,869        542,354  

General Dynamics Corp.

     117,373        15,529,622  

HEICO Corp.

     3,329        248,377  

HEICO Corp. Class A

     4,187        267,549  

Hexcel Corp.

     15,460        574,957  

Huntington Ingalls Industries, Inc.

     13,136        2,393,511  

L3Harris Technologies, Inc.

     58,974        10,622,397  

Northrop Grumman Corp.

     46,001        13,917,603  

Raytheon Co.

     86,752        11,377,525  

Spirit AeroSystems Holdings, Inc. Class A

     6,540        156,502  

Textron, Inc.

     10,193        271,847  

United Technologies Corp.

     302,744        28,557,841  
     

 

 

 
Total Aerospace & Defense

 

     85,539,158  
Air Freight & Logistics – 2.0%

 

C.H. Robinson Worldwide, Inc.

     64,389        4,262,552  

Expeditors International of Washington, Inc.

     43,822        2,923,804  

FedEx Corp.

     73,143        8,869,320  

United Parcel Service, Inc. Class B

     403,938        37,735,888  
     

 

 

 
Total Air Freight & Logistics

 

     53,791,564  
Airlines – 0.2%

 

Southwest Airlines Co.

     129,593        4,614,807  
Auto Components – 0.1%

 

Gentex Corp.

     85,746        1,900,131  

Goodyear Tire & Rubber Co. (The)

     143,696        836,311  
     

 

 

 
Total Auto Components

 

     2,736,442  
Automobiles – 0.9%

 

General Motors Co.

     1,084,490        22,535,702  

Harley-Davidson, Inc.(a)

     100,151        1,895,859  

Thor Industries, Inc.

     24,712        1,042,352  
     

 

 

 
Total Automobiles

 

     25,473,913  
Banks – 0.2%

 

Bank OZK

     65,622        1,095,887  

East West Bancorp, Inc.

     52,221        1,344,168  

Pinnacle Financial Partners, Inc.

     15,692        589,078  

TCF Financial Corp.(a)

     75,355        1,707,544  

Western Alliance Bancorp

     26,419        808,686  
     

 

 

 
Total Banks

 

     5,545,363  
Beverages – 4.0%

 

Brown-Forman Corp. Class A

     29,113        1,495,826  

Brown-Forman Corp. Class B(a)

     62,940        3,493,799  

Constellation Brands, Inc. Class A

     49,510        7,097,754  

Keurig Dr. Pepper, Inc.

     523,988        12,717,189  

PepsiCo, Inc.

     692,752        83,199,515  
     

 

 

 
Total Beverages

 

     108,004,083  
Biotechnology – 4.3%

 

Amgen, Inc.

     261,149        52,942,737  

Gilead Sciences, Inc.

     869,597        65,011,071  
     

 

 

 
Total Biotechnology

 

     117,953,808  
Building Products – 0.2%

 

A.O. Smith Corp.

     47,858      1,809,511  

Armstrong World Industries, Inc.

     10,811        858,610  

Fortune Brands Home & Security, Inc.

     37,313        1,613,787  

Simpson Manufacturing Co., Inc.

     11,341        702,915  
     

 

 

 
Total Building Products

 

     4,984,823  
Capital Markets – 2.9%

 

Blackstone Group, Inc. (The) Class A

     429,822        19,586,989  

CBOE Global Markets, Inc.

     22,454        2,004,020  

CME Group, Inc.

     93,754        16,211,004  

Eaton Vance Corp.

     64,733        2,087,639  

FactSet Research Systems, Inc.(a)

     7,163        1,867,251  

Federated Hermes, Inc. Class B

     62,257        1,185,996  

Franklin Resources, Inc.

     338,086        5,642,655  

KKR & Co., Inc. Class A

     154,773        3,632,522  

LPL Financial Holdings, Inc.

     18,962        1,032,102  

MarketAxess Holdings, Inc.

     4,187        1,392,471  

Morningstar, Inc.

     6,898        801,893  

Raymond James Financial, Inc.

     36,176        2,286,323  

S&P Global, Inc.

     37,508        9,191,335  

SEI Investments Co.

     31,639        1,466,151  

T. Rowe Price Group, Inc.

     104,462        10,200,714  
     

 

 

 
Total Capital Markets

 

     78,589,065  
Chemicals – 2.2%

 

Air Products & Chemicals, Inc.

     79,653        15,899,535  

Celanese Corp.

     43,307        3,178,301  

CF Industries Holdings, Inc.

     94,558        2,571,978  

Eastman Chemical Co.

     76,374        3,557,501  

Ecolab, Inc.

     53,326        8,309,790  

FMC Corp.

     33,516        2,737,922  

International Flavors & Fragrances, Inc.

     44,292        4,521,327  

NewMarket Corp.

     2,462        942,626  

PPG Industries, Inc.

     66,541        5,562,828  

RPM International, Inc.

     46,156        2,746,282  

Scotts Miracle-Gro Co. (The)

     22,577        2,311,885  

Sherwin-Williams Co. (The)

     13,474        6,191,572  
     

 

 

 
Total Chemicals

 

     58,531,547  
Commercial Services & Supplies – 0.8%

 

Brink’s Co. (The)

     3,638        189,358  

Cintas Corp.

     18,546        3,212,538  

MSA Safety, Inc.

     10,575        1,070,190  

Rollins, Inc.(a)

     75,614        2,732,690  

Tetra Tech, Inc.

     9,447        667,147  

Waste Management, Inc.

     138,559        12,825,021  
     

 

 

 
Total Commercial Services & Supplies

 

     20,696,944  
Communications Equipment – 0.0%

 

Ubiquiti, Inc.(a)

     7,200        1,019,376  
Construction & Engineering – 0.1%

 

EMCOR Group, Inc.

     6,936        425,316  

Jacobs Engineering Group, Inc.

     13,924        1,103,755  

Quanta Services, Inc.

     8,142        258,346  
     

 

 

 
Total Construction & Engineering

 

     1,787,417  

 

See Notes to Financial Statements.

 

WisdomTree Trust      61  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2020

 

 

 

Investments    Shares      Value  
Construction Materials – 0.2%

 

Eagle Materials, Inc.

     6,978      $ 407,655  

Martin Marietta Materials, Inc.

     9,934        1,879,811  

Vulcan Materials Co.

     22,605        2,442,922  
     

 

 

 
Total Construction Materials

 

     4,730,388  
Consumer Finance – 1.0%

 

American Express Co.

     201,716        17,268,907  

Discover Financial Services

     116,206        4,145,068  

SLM Corp.(a)

     115,876        833,148  

Synchrony Financial

     274,586        4,418,089  
     

 

 

 
Total Consumer Finance

 

     26,665,212  
Containers & Packaging – 0.4%

 

AptarGroup, Inc.

     14,600        1,453,284  

Avery Dennison Corp.

     28,867        2,940,681  

Graphic Packaging Holding Co.

     113,307        1,382,345  

Packaging Corp. of America

     50,526        4,387,173  
     

 

 

 
Total Containers & Packaging

 

     10,163,483  
Distributors – 0.1%

 

Pool Corp.

     8,048        1,583,605  
Diversified Consumer Services – 0.1%

 

Service Corp. International

     58,224        2,277,141  
Diversified Telecommunication Services – 5.9%

 

Verizon Communications, Inc.

     2,975,847        159,892,259  
Electric Utilities – 1.6%

 

NextEra Energy, Inc.

     183,661        44,192,510  
Electrical Equipment – 0.9%

 

Acuity Brands, Inc.

     2,363        202,415  

AMETEK, Inc.

     25,801        1,858,188  

Emerson Electric Co.

     286,450        13,649,342  

Hubbell, Inc.

     24,288        2,786,805  

Regal Beloit Corp.

     6,489        408,483  

Rockwell Automation, Inc.

     39,224        5,919,294  
     

 

 

 
Total Electrical Equipment

 

     24,824,527  
Electronic Equipment, Instruments & Components – 0.3%

 

Amphenol Corp. Class A

     38,929        2,837,146  

CDW Corp.

     23,209        2,164,703  

Cognex Corp.

     11,573        488,612  

Dolby Laboratories, Inc. Class A

     15,037        815,156  

FLIR Systems, Inc.

     16,441        524,303  

Littelfuse, Inc.

     2,623        349,961  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     7,179,881  
Entertainment – 0.2%

 

Activision Blizzard, Inc.

     86,277        5,131,756  

Cinemark Holdings, Inc.(a)

     88,427        901,071  
     

 

 

 
Total Entertainment

 

     6,032,827  
Equity Real Estate Investment Trusts (REITs) – 0.1%

 

Ryman Hospitality Properties, Inc.

     39,445        1,414,103  
Food & Staples Retailing – 1.4%

 

Casey’s General Stores, Inc.

     5,097        675,302  

Costco Wholesale Corp.

     70,587        20,126,471  

Kroger Co. (The)

     326,320      9,828,758  

Sysco Corp.

     189,975        8,668,559  
     

 

 

 
Total Food & Staples Retailing

 

     39,299,090  
Food Products – 2.2%

 

Campbell Soup Co.

     157,756        7,282,017  

Conagra Brands, Inc.

     261,073        7,659,882  

General Mills, Inc.

     411,841        21,732,850  

Hershey Co. (The)

     57,328        7,595,960  

Ingredion, Inc.

     31,315        2,364,282  

J&J Snack Foods Corp.

     1,825        220,825  

Lancaster Colony Corp.

     7,048        1,019,423  

McCormick & Co., Inc. Non-Voting Shares

     34,339        4,849,010  

Sanderson Farms, Inc.(a)

     2,590        319,399  

Tyson Foods, Inc. Class A

     102,973        5,959,047  
     

 

 

 
Total Food Products

 

     59,002,695  
Gas Utilities – 0.1%

 

National Fuel Gas Co.

     49,795        1,856,855  
Health Care Equipment & Supplies – 1.1%

 

Cantel Medical Corp.(a)

     5,622        201,830  

CONMED Corp.

     3,009        172,325  

Cooper Cos., Inc. (The)

     930        256,373  

Danaher Corp.

     60,281        8,343,493  

Hill-Rom Holdings, Inc.

     6,357        639,514  

ResMed, Inc.

     27,931        4,113,957  

Stryker Corp.

     75,796        12,619,276  

Teleflex, Inc.

     3,421        1,001,874  

West Pharmaceutical Services, Inc.

     8,014        1,220,132  
     

 

 

 
Total Health Care Equipment & Supplies

 

     28,568,774  
Health Care Providers & Services – 3.1%

 

Anthem, Inc.

     51,020        11,583,581  

Chemed Corp.

     986        427,135  

Cigna Corp.

     3,128        554,219  

Encompass Health Corp.

     32,517        2,082,064  

Humana, Inc.

     15,467        4,856,947  

UnitedHealth Group, Inc.

     257,192        64,138,541  
     

 

 

 
Total Health Care Providers & Services

 

     83,642,487  
Health Care Technology – 0.1%

 

Cerner Corp.

     55,932        3,523,157  
Hotels, Restaurants & Leisure – 1.2%

 

Aramark(a)

     51,918        1,036,802  

Churchill Downs, Inc.

     2,503        257,684  

Cracker Barrel Old Country Store, Inc.

     12,103        1,007,212  

Las Vegas Sands Corp.

     610,444        25,925,557  

Texas Roadhouse, Inc.

     28,633        1,182,543  

Vail Resorts, Inc.

     19,227        2,840,020  

Wendy’s Co. (The)

     79,290        1,179,835  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     33,429,653  
Household Durables – 0.3%

 

D.R. Horton, Inc.

     86,046        2,925,564  

Leggett & Platt, Inc.

     77,688        2,072,716  

Lennar Corp. Class A

     18,484        706,089  

 

See Notes to Financial Statements.

 

62   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2020

 

 

 

Investments    Shares      Value  

PulteGroup, Inc.

     59,668      $ 1,331,789  

Toll Brothers, Inc.

     25,060        482,405  
     

 

 

 
Total Household Durables

 

     7,518,563  
Household Products – 4.8%

 

Church & Dwight Co., Inc.

     61,187        3,926,981  

Clorox Co. (The)

     62,659        10,855,672  

Procter & Gamble Co. (The)

     1,063,825        117,020,750  
     

 

 

 
Total Household Products

 

     131,803,403  
Independent Power & Renewable Electricity Producers – 0.0%

 

Ormat Technologies, Inc.

     9,472        640,875  
Industrial Conglomerates – 3.2%

 

3M Co.

     349,368        47,692,226  

Carlisle Cos., Inc.

     13,424        1,681,759  

Honeywell International, Inc.

     258,901        34,638,365  

Roper Technologies, Inc.

     11,639        3,629,156  
     

 

 

 
Total Industrial Conglomerates

 

     87,641,506  
Insurance – 1.3%

 

Arthur J. Gallagher & Co.

     60,672        4,945,375  

Brown & Brown, Inc.

     50,686        1,835,847  

Erie Indemnity Co. Class A

     16,524        2,449,518  

Globe Life, Inc.

     15,664        1,127,338  

Marsh & McLennan Cos., Inc.

     147,266        12,732,618  

Travelers Cos., Inc. (The)

     111,491        11,076,631  
     

 

 

 
Total Insurance

 

     34,167,327  
Internet & Direct Marketing Retail – 0.3%

 

eBay, Inc.

     235,296        7,072,998  
IT Services – 3.5%

 

Automatic Data Processing, Inc.

     126,804        17,331,571  

Booz Allen Hamilton Holding Corp.

     31,592        2,168,475  

Broadridge Financial Solutions, Inc.

     30,341        2,877,237  

Cognizant Technology Solutions Corp. Class A

     95,938        4,458,239  

Fidelity National Information Services, Inc.

     83,754        10,187,836  

Global Payments, Inc.

     17,552        2,531,525  

Jack Henry & Associates, Inc.

     12,194        1,892,997  

KBR, Inc.

     11,020        227,894  

Leidos Holdings, Inc.

     28,293        2,593,053  

MasterCard, Inc. Class A

     71,984        17,388,455  

MAXIMUS, Inc.

     15,780        918,396  

Paychex, Inc.

     143,086        9,002,971  

Science Applications International Corp.

     9,486        707,940  

Visa, Inc. Class A

     149,860        24,145,443  
     

 

 

 
Total IT Services

 

     96,432,032  
Leisure Products – 0.2%

 

Brunswick Corp.

     28,674        1,014,199  

Hasbro, Inc.

     59,905        4,286,203  

Polaris, Inc.

     23,297        1,121,751  
     

 

 

 
Total Leisure Products

 

     6,422,153  
Life Sciences Tools & Services – 0.3%

 

Agilent Technologies, Inc.

     47,480        3,400,518  

Bruker Corp.

     12,465        446,995  

PerkinElmer, Inc.

     9,403        707,858  

Thermo Fisher Scientific, Inc.

     16,984      4,816,662  
     

 

 

 
Total Life Sciences Tools & Services

 

     9,372,033  
Machinery – 4.1%

 

AGCO Corp.

     13,168        622,188  

Allison Transmission Holdings, Inc.

     26,443        862,306  

Caterpillar, Inc.

     277,648        32,218,274  

Cummins, Inc.

     79,528        10,761,729  

Deere & Co.

     99,132        13,696,077  

Donaldson Co., Inc.

     36,427        1,407,175  

Dover Corp.

     47,195        3,961,548  

Flowserve Corp.

     29,152        696,441  

Fortive Corp.

     17,686        976,090  

Graco, Inc.

     43,413        2,115,516  

IDEX Corp.

     18,040        2,491,504  

Illinois Tool Works, Inc.

     138,816        19,728,530  

ITT, Inc.

     15,564        705,983  

Lincoln Electric Holdings, Inc.

     24,274        1,674,906  

Nordson Corp.

     9,741        1,315,717  

Oshkosh Corp.

     19,113        1,229,539  

Parker-Hannifin Corp.

     40,296        5,227,600  

Snap-on, Inc.

     26,534        2,887,430  

Stanley Black & Decker, Inc.

     42,976        4,297,600  

Toro Co. (The)

     24,097        1,568,474  

Westinghouse Air Brake Technologies Corp.

     26,165        1,259,322  

Woodward, Inc.

     5,960        354,262  

Xylem, Inc.

     43,558        2,836,933  
     

 

 

 
Total Machinery

 

     112,895,144  
Media – 2.3%

 

Cable One, Inc.

     503        826,937  

Comcast Corp. Class A

     1,569,763        53,968,452  

Interpublic Group of Cos., Inc. (The)

     264,243        4,278,094  

Nexstar Media Group, Inc. Class A(a)

     14,998        865,835  

TEGNA, Inc.(a)

     45,591        495,118  

ViacomCBS, Inc. Class B

     249,110        3,490,031  
     

 

 

 
Total Media

 

     63,924,467  
Multiline Retail – 0.9%

 

Dollar General Corp.

     39,722        5,998,419  

Kohl’s Corp.

     148,762        2,170,438  

Target Corp.

     188,415        17,516,942  
     

 

 

 
Total Multiline Retail

 

     25,685,799  
Oil, Gas & Consumable Fuels – 1.2%

 

Cabot Oil & Gas Corp.

     185,119        3,182,196  

Continental Resources, Inc.(a)

     29,271        223,631  

CVR Energy, Inc.

     127,983        2,115,559  

Devon Energy Corp.

     65,563        453,040  

Diamondback Energy, Inc.

     21,001        550,226  

Marathon Petroleum Corp.

     408,857        9,657,202  

Parsley Energy, Inc. Class A

     21,095        120,874  

Pioneer Natural Resources Co.

     34,325        2,407,899  

Valero Energy Corp.

     279,884        12,695,538  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     31,406,165  

 

See Notes to Financial Statements.

 

WisdomTree Trust      63  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2020

 

 

 

Investments    Shares      Value  
Personal Products – 0.2%

 

Estee Lauder Cos., Inc. (The) Class A

     38,793      $ 6,181,277  
Pharmaceuticals – 8.0%

 

Bristol-Myers Squibb Co.

     1,184,465        66,022,079  

Eli Lilly & Co.

     365,654        50,723,523  

Merck & Co., Inc.

     1,249,491        96,135,838  

Zoetis, Inc.

     46,945        5,524,957  
     

 

 

 
Total Pharmaceuticals

 

     218,406,397  
Professional Services – 0.3%

 

Equifax, Inc.

     24,321        2,905,143  

Exponent, Inc.

     4,851        348,835  

TransUnion

     14,392        952,463  

Verisk Analytics, Inc.

     19,621        2,734,775  
     

 

 

 
Total Professional Services

 

     6,941,216  
Road & Rail – 2.5%

 

CSX Corp.

     186,670        10,696,191  

JB Hunt Transport Services, Inc.

     18,190        1,677,664  

Kansas City Southern

     16,279        2,070,363  

Knight-Swift Transportation Holdings, Inc.

     17,676        579,773  

Landstar System, Inc.(a)

     5,914        566,916  

Norfolk Southern Corp.

     92,754        13,542,084  

Old Dominion Freight Line, Inc.

     10,410        1,366,417  

Union Pacific Corp.

     270,990        38,220,429  
     

 

 

 
Total Road & Rail

 

     68,719,837  
Semiconductors & Semiconductor Equipment – 6.9%

 

Analog Devices, Inc.

     91,891        8,238,028  

Applied Materials, Inc.

     178,668        8,186,568  

Brooks Automation, Inc.

     7,741        236,100  

Cabot Microelectronics Corp.

     2,736        312,287  

Entegris, Inc.

     6,590        295,034  

Intel Corp.

     1,280,256        69,287,455  

KLA Corp.

     43,715        6,283,594  

Lam Research Corp.

     32,779        7,866,960  

Maxim Integrated Products, Inc.

     117,693        5,721,057  

MKS Instruments, Inc.

     5,819        473,958  

Monolithic Power Systems, Inc.

     7,191        1,204,205  

NVIDIA Corp.

     24,880        6,558,368  

QUALCOMM, Inc.

     434,046        29,363,212  

Skyworks Solutions, Inc.

     38,769        3,465,173  

Teradyne, Inc.

     7,136        386,557  

Texas Instruments, Inc.

     357,570        35,731,970  

Universal Display Corp.

     2,701        355,938  

Xilinx, Inc.

     51,002        3,975,096  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     187,941,560  
Software – 6.9%

 

Citrix Systems, Inc.

     25,059        3,547,101  

Intuit, Inc.

     29,637        6,816,510  

Microsoft Corp.

     884,866        139,552,217  

Oracle Corp.

     777,888        37,595,327  

SS&C Technologies Holdings, Inc.

     22,845        1,001,068  
     

 

 

 
Total Software

 

     188,512,223  
Specialty Retail – 2.3%

 

Aaron’s, Inc.

     5,596      127,477  

Advance Auto Parts, Inc.

     4,051        378,039  

Best Buy Co., Inc.

     113,616        6,476,112  

Foot Locker, Inc.

     68,335        1,506,787  

Gap, Inc. (The)

     395,940        2,787,418  

Lithia Motors, Inc. Class A(a)

     2,179        178,220  

Lowe’s Cos., Inc.

     255,088        21,950,322  

Ross Stores, Inc.

     58,660        5,101,660  

Tiffany & Co.

     37,894        4,907,273  

TJX Cos., Inc. (The)

     330,585        15,805,269  

Tractor Supply Co.

     31,185        2,636,692  

Williams-Sonoma, Inc.

     40,838        1,736,432  
     

 

 

 
Total Specialty Retail

 

     63,591,701  
Technology Hardware, Storage & Peripherals – 4.6%

 

Apple, Inc.

     496,960        126,371,958  
Textiles, Apparel & Luxury Goods – 0.8%

 

Carter’s, Inc.

     16,807        1,104,724  

Columbia Sportswear Co.(a)

     15,708        1,095,947  

Hanesbrands, Inc.(a)

     242,275        1,906,705  

NIKE, Inc. Class B

     223,834        18,520,025  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     22,627,401  
Tobacco – 3.2%

 

Altria Group, Inc.

     2,244,877        86,809,394  
Trading Companies & Distributors – 0.6%

 

Air Lease Corp.(a)

     18,149        401,819  

Fastenal Co.

     249,647        7,801,469  

MSC Industrial Direct Co., Inc. Class A

     32,410        1,781,578  

W.W. Grainger, Inc.

     17,033        4,232,700  

Watsco, Inc.(a)

     20,970        3,313,889  
     

 

 

 
Total Trading Companies & Distributors

 

     17,531,455  
TOTAL COMMON STOCKS
(Cost: $2,826,414,347)

 

     2,716,163,841  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%

 

United States – 0.1%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(b)

 

  
(Cost: $2,441,228)      2,441,228        2,441,228  

TOTAL INVESTMENTS IN SECURITIES – 99.8%

(Cost: $2,828,855,575)

 

 

     2,718,605,069  

Other Assets less Liabilities – 0.2%

 

     4,877,827  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 2,723,482,896  

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $16,863,346 and the total market value of the collateral held by the Fund was $17,426,332. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $14,985,104.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

64   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. Quality Shareholder Yield Fund (QSY)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.8%

 

Aerospace & Defense – 1.7%

 

Arconic, Inc.

     26,653      $ 428,047  

BWX Technologies, Inc.

     5,441        265,031  

Raytheon Co.

     2,733        358,433  
     

 

 

 
Total Aerospace & Defense

 

     1,051,511  
Air Freight & Logistics – 1.2%

 

C.H. Robinson Worldwide, Inc.

     5,760        381,312  

XPO Logistics, Inc.*

     7,012        341,835  
     

 

 

 
Total Air Freight & Logistics

 

     723,147  
Airlines – 1.8%

 

Delta Air Lines, Inc.

     13,001        370,919  

Southwest Airlines Co.

     13,192        469,767  

United Airlines Holdings, Inc.*

     8,191        258,426  
     

 

 

 
Total Airlines

 

     1,099,112  
Auto Components – 0.6%

 

Gentex Corp.

     16,829        372,931  
Banks – 6.4%

 

Bank of America Corp.

     20,184        428,506  

Citigroup, Inc.

     10,238        431,224  

Comerica, Inc.

     11,013        323,121  

Fifth Third Bancorp

     23,216        344,758  

First Citizens BancShares, Inc. Class A

     1,087        361,830  

JPMorgan Chase & Co.

     3,765        338,963  

M&T Bank Corp.

     3,805        393,551  

Regions Financial Corp.

     31,479        282,367  

Synovus Financial Corp.

     16,201        284,490  

U.S. Bancorp

     5,853        201,636  

Western Alliance Bancorp

     4,072        124,644  

Zions Bancorp N.A.

     15,590        417,188  
     

 

 

 
Total Banks

 

     3,932,278  
Biotechnology – 2.2%

 

AbbVie, Inc.

     5,382        410,054  

Amgen, Inc.

     3,268        662,522  

Biogen, Inc.*

     892        282,211  
     

 

 

 
Total Biotechnology

 

     1,354,787  
Building Products – 2.1%

 

A.O. Smith Corp.

     11,579        437,802  

Lennox International, Inc.

     2,249        408,846  

Masco Corp.

     13,116        453,420  
     

 

 

 
Total Building Products

 

     1,300,068  
Capital Markets – 4.5%

 

Ameriprise Financial, Inc.

     3,958        405,616  

Charles Schwab Corp. (The)

     7,976        268,153  

LPL Financial Holdings, Inc.

     5,607        305,189  

Morgan Stanley

     12,701        431,834  

Northern Trust Corp.

     4,067        306,896  

Raymond James Financial, Inc.

     5,518        348,738  

SEI Investments Co.

     4,716        218,539  

T. Rowe Price Group, Inc.

     4,812        469,892  
     

 

 

 
Total Capital Markets

 

     2,754,857  
Chemicals – 3.9%

 

Ashland Global Holdings, Inc.

     7,397      370,368  

Celanese Corp.

     7,866        577,286  

CF Industries Holdings, Inc.

     17,569        477,877  

DuPont de Nemours, Inc.

     15,207        518,558  

Huntsman Corp.

     32,226        465,021  
     

 

 

 
Total Chemicals

 

     2,409,110  
Commercial Services & Supplies – 0.5%

 

Cintas Corp.

     1,770        306,599  
Communications Equipment – 2.2%

 

Cisco Systems, Inc.

     23,116        908,690  

Ubiquiti, Inc.(a)

     3,369        476,983  
     

 

 

 
Total Communications Equipment

 

     1,385,673  
Consumer Finance – 1.9%

 

Ally Financial, Inc.

     23,424        338,008  

American Express Co.

     3,095        264,963  

Discover Financial Services

     7,010        250,047  

Synchrony Financial

     21,059        338,839  
     

 

 

 
Total Consumer Finance

 

     1,191,857  
Containers & Packaging – 2.1%

 

Avery Dennison Corp.

     3,822        389,347  

Ball Corp.

     7,146        462,061  

International Paper Co.

     13,916        433,205  
     

 

 

 
Total Containers & Packaging

 

     1,284,613  
Diversified Consumer Services – 0.5%

 

H&R Block, Inc.

     20,412        287,401  
Diversified Financial Services – 1.6%

 

Jefferies Financial Group, Inc.

     30,060        410,920  

Voya Financial, Inc.

     13,703        555,657  
     

 

 

 
Total Diversified Financial Services

 

     966,577  
Electric Utilities – 2.7%

 

Evergy, Inc.

     16,934        932,217  

NRG Energy, Inc.

     26,879        732,721  
     

 

 

 
Total Electric Utilities

 

     1,664,938  
Electrical Equipment – 1.1%

 

Emerson Electric Co.

     5,755        274,226  

Rockwell Automation, Inc.

     2,658        401,119  
     

 

 

 
Total Electrical Equipment

 

     675,345  
Electronic Equipment, Instruments & Components – 1.1%

 

CDW Corp.

     3,290        306,858  

Jabil, Inc.

     15,051        369,954  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     676,812  
Entertainment – 0.6%

 

Electronic Arts, Inc.*

     3,844        385,053  
Equity Real Estate Investment Trusts (REITs) – 0.6%

 

Host Hotels & Resorts, Inc.

     32,076        354,119  
Food & Staples Retailing – 0.3%

 

Sysco Corp.

     4,093        186,764  

 

See Notes to Financial Statements.

 

WisdomTree Trust      65  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Quality Shareholder Yield Fund (QSY)

March 31, 2020

 

 

 

Investments    Shares      Value  
Food Products – 0.7%

 

Kraft Heinz Co. (The)

     18,492      $ 457,492  
Health Care Equipment & Supplies – 1.4%

 

Baxter International, Inc.

     6,785        550,874  

Haemonetics Corp.*

     2,907        289,712  
     

 

 

 
Total Health Care Equipment & Supplies

 

     840,586  
Health Care Providers & Services – 2.4%

 

DaVita, Inc.*

     14,542        1,106,064  

Humana, Inc.

     1,276        400,690  
     

 

 

 
Total Health Care Providers & Services

 

     1,506,754  
Health Care Technology – 0.8%

 

Cerner Corp.

     7,546        475,323  
Hotels, Restaurants & Leisure – 3.6%

 

Hilton Worldwide Holdings, Inc.

     4,375        298,550  

Marriott International, Inc. Class A

     3,768        281,884  

Planet Fitness, Inc. Class A*

     10,718        521,967  

Starbucks Corp.

     11,920        783,621  

Yum! Brands, Inc.

     4,948        339,086  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     2,225,108  
Household Durables – 1.4%

 

PulteGroup, Inc.

     10,053        224,383  

Toll Brothers, Inc.

     22,987        442,500  

Whirlpool Corp.(a)

     2,224        190,819  
     

 

 

 
Total Household Durables

 

     857,702  
Independent Power & Renewable Electricity Producers – 0.9%

 

Vistra Energy Corp.

     36,676        585,349  
Industrial Conglomerates – 0.6%

 

Carlisle Cos., Inc.

     3,003        376,216  
Insurance – 1.6%

 

MetLife, Inc.

     13,367        408,629  

Primerica, Inc.

     2,623        232,083  

Unum Group

     22,164        332,682  
     

 

 

 
Total Insurance

 

     973,394  
Internet & Direct Marketing Retail – 2.6%

 

Booking Holdings, Inc.*

     532        715,710  

eBay, Inc.

     29,624        890,498  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     1,606,208  
IT Services – 4.6%

 

Cognizant Technology Solutions Corp. Class A

     11,556        537,007  

DXC Technology Co.

     15,568        203,162  

Fiserv, Inc.*

     7,819        742,727  

Leidos Holdings, Inc.

     6,636        608,190  

VeriSign, Inc.*

     1,792        322,721  

Western Union Co. (The)

     22,855        414,361  
     

 

 

 
Total IT Services

 

     2,828,168  
Life Sciences Tools & Services – 2.8%

 

Agilent Technologies, Inc.

     4,015        287,554  

Mettler-Toledo International, Inc.*

     473        326,611  

PRA Health Sciences, Inc.*

     3,861        320,618  

Waters Corp.*

     4,482        815,948  
     

 

 

 
Total Life Sciences Tools & Services

 

     1,750,731  
Machinery – 4.7%

 

Allison Transmission Holdings, Inc.

     18,500      603,285  

Caterpillar, Inc.

     5,385        624,875  

Cummins, Inc.

     2,962        400,818  

Illinois Tool Works, Inc.

     2,361        335,545  

Lincoln Electric Holdings, Inc.

     6,839        471,891  

Oshkosh Corp.

     7,029        452,176  
     

 

 

 
Total Machinery

 

     2,888,590  
Media – 3.9%

 

Altice USA, Inc. Class A*

     39,673        884,311  

Charter Communications, Inc. Class A*

     1,202        524,445  

Omnicom Group, Inc.(a)

     6,488        356,191  

Sirius XM Holdings, Inc.(a)

     131,064        647,456  
     

 

 

 
Total Media

 

     2,412,403  
Metals & Mining – 2.4%

 

Nucor Corp.

     10,299        370,970  

Reliance Steel & Aluminum Co.

     5,367        470,095  

Steel Dynamics, Inc.

     29,142        656,861  
     

 

 

 
Total Metals & Mining

 

     1,497,926  
Oil, Gas & Consumable Fuels – 3.1%

 

Cabot Oil & Gas Corp.

     16,838        289,445  

ConocoPhillips

     10,917        336,244  

Devon Energy Corp.

     11,157        77,095  

HollyFrontier Corp.

     18,575        455,273  

Marathon Oil Corp.

     20,625        67,856  

Marathon Petroleum Corp.

     14,485        342,136  

Phillips 66

     4,278        229,515  

Pioneer Natural Resources Co.

     1,877        131,671  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     1,929,235  
Pharmaceuticals – 1.6%

 

Eli Lilly & Co.

     3,627        503,137  

Merck & Co., Inc.

     6,287        483,722  
     

 

 

 
Total Pharmaceuticals

 

     986,859  
Professional Services – 1.3%

 

ManpowerGroup, Inc.

     7,952        421,376  

Robert Half International, Inc.

     10,549        398,225  
     

 

 

 
Total Professional Services

 

     819,601  
Road & Rail – 1.1%

 

CSX Corp.

     12,408        710,978  
Semiconductors & Semiconductor Equipment – 5.3%

 

Applied Materials, Inc.

     9,909        454,030  

Intel Corp.

     10,119        547,640  

Lam Research Corp.

     2,278        546,720  

Maxim Integrated Products, Inc.

     8,420        409,296  

Qorvo, Inc.*

     5,014        404,279  

Teradyne, Inc.

     9,378        508,006  

Texas Instruments, Inc.

     4,051        404,817  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     3,274,788  
Software – 3.1%

 

Aspen Technology, Inc.*

     2,952        280,647  

Citrix Systems, Inc.

     4,906        694,444  

 

See Notes to Financial Statements.

 

66   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. Quality Shareholder Yield Fund (QSY)

March 31, 2020

 

 

 

Investments    Shares      Value  

Oracle Corp.

     19,284      $ 931,996  
     

 

 

 
Total Software

 

     1,907,087  
Specialty Retail – 3.9%

 

AutoZone, Inc.*

     537        454,302  

Best Buy Co., Inc.

     7,447        424,479  

Lowe’s Cos., Inc.

     4,785        411,749  

O’Reilly Automotive, Inc.*

     1,195        359,755  

Tractor Supply Co.

     4,922        416,155  

Ulta Beauty, Inc.*

     2,110        370,727  
     

 

 

 
Total Specialty Retail

 

     2,437,167  
Technology Hardware, Storage & Peripherals – 3.3%

 

Apple, Inc.

     2,276        578,764  

Hewlett Packard Enterprise Co.

     65,284        633,908  

HP, Inc.

     25,593        444,294  

NetApp, Inc.

     9,377        390,927  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     2,047,893  
Textiles, Apparel & Luxury Goods – 2.6%

 

Carter’s, Inc.

     5,077        333,711  

Columbia Sportswear Co.

     3,994        278,662  

Deckers Outdoor Corp.*

     2,870        384,580  

Ralph Lauren Corp.

     8,940        597,460  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     1,594,413  
Thrifts & Mortgage Finance – 0.5%

 

MGIC Investment Corp.

     19,923        126,511  

Radian Group, Inc.

     15,213        197,008  
     

 

 

 
Total Thrifts & Mortgage Finance

 

     323,519  
TOTAL COMMON STOCKS
(Cost: $77,378,065)

 

     61,677,042  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.5%

 

United States – 0.5%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(b)

 

  
(Cost: $277,007)      277,007        277,007  

TOTAL INVESTMENTS IN SECURITIES – 100.3%

(Cost: $77,655,072)

 

 

     61,954,049  

Other Assets less Liabilities – (0.3)%

 

     (159,299
     

 

 

 
NET ASSETS – 100.0%

 

   $ 61,794,750  
*

Non-income producing security.

 

(a)

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $787,006 and the total market value of the collateral held by the Fund was $802,733. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $525,726.

 

(b)

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

WisdomTree Trust      67  


Table of Contents

Schedule of Investments

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.5%

 

United States – 99.2%

 

Aerospace & Defense – 0.3%

 

AAR Corp.

     25,916      $ 460,268  

Cubic Corp.(a)

     14,050        580,406  

Maxar Technologies, Inc.(a)

     22,137        236,423  

Moog, Inc. Class A

     38,934        1,967,335  

National Presto Industries, Inc.(a)

     9,131        646,566  

Park Aerospace Corp.

     56,975        717,885  
     

 

 

 
Total Aerospace & Defense

 

     4,608,883  
Air Freight & Logistics – 0.1%

 

Forward Air Corp.

     37,461        1,897,400  
Airlines – 0.1%

 

Hawaiian Holdings, Inc.(a)

     82,586        862,198  

SkyWest, Inc.

     42,190        1,104,956  
     

 

 

 
Total Airlines

 

     1,967,154  
Auto Components – 0.8%

 

Cooper Tire & Rubber Co.(a)

     77,333        1,260,528  

Dana, Inc.

     354,237        2,766,591  

LCI Industries(a)

     73,232        4,894,094  

Standard Motor Products, Inc.

     43,208        1,796,157  
     

 

 

 
Total Auto Components

 

     10,717,370  
Automobiles – 0.1%

 

Winnebago Industries, Inc.

     33,542        932,803  
Banks – 16.0%

 

1st Constitution Bancorp

     4,446        58,909  

1st Source Corp.

     43,421        1,408,143  

ACNB Corp.

     17,070        512,100  

Amalgamated Bank Class A

     46,664        504,904  

American National Bankshares, Inc.

     26,163        625,296  

Ameris Bancorp

     70,406        1,672,847  

Ames National Corp.

     32,069        655,811  

Arrow Financial Corp.

     29,918        833,815  

Atlantic Union Bankshares Corp.

     164,392        3,600,185  

Banc of California, Inc.

     61,212        489,696  

BancFirst Corp.

     52,215        1,742,414  

BancorpSouth Bank

     178,469        3,376,633  

Bank First Corp.(a)

     6,470        362,320  

Bank of Commerce Holdings

     15,747        123,929  

Bank of Marin Bancorp

     19,612        588,360  

Bank of Princeton (The)

     11,672        271,374  

Bank7 Corp.

     26,837        213,086  

BankFinancial Corp.

     52,912        466,155  

Bankwell Financial Group, Inc.

     19,167        292,488  

Banner Corp.

     81,664        2,698,179  

Bar Harbor Bankshares

     48,582        839,497  

BCB Bancorp, Inc.

     62,402        664,581  

Berkshire Hills Bancorp, Inc.

     109,353        1,624,986  

Boston Private Financial Holdings, Inc.

     279,976        2,001,828  

Bridge Bancorp, Inc.

     40,595        858,990  

Brookline Bancorp, Inc.

     167,599        1,890,517  

Bryn Mawr Bank Corp.

     39,287        1,114,965  

Business First Bancshares, Inc.(a)

     31,627      426,964  

C&F Financial Corp.

     7,097        283,170  

Cadence BanCorp

     408,879        2,678,157  

Cambridge Bancorp(a)

     10,267        533,884  

Camden National Corp.

     30,358        954,759  

Capital City Bank Group, Inc.(a)

     20,020        402,802  

Capstar Financial Holdings, Inc.

     43,471        429,928  

Carolina Financial Corp.

     16,555        428,278  

Cathay General Bancorp

     200,146        4,593,351  

CB Financial Services, Inc.

     9,255        178,714  

CBTX, Inc.

     45,970        816,887  

Central Pacific Financial Corp.

     65,846        1,046,951  

Central Valley Community Bancorp

     26,454        344,960  

Century Bancorp, Inc. Class A

     1,315        81,846  

Chemung Financial Corp.

     9,448        311,595  

Citizens & Northern Corp.

     41,063        821,260  

City Holding Co.

     34,887        2,321,032  

Civista Bancshares, Inc.

     23,611        353,221  

CNB Financial Corp.

     19,248        363,210  

Codorus Valley Bancorp, Inc.

     36,781        592,174  

Colony Bankcorp, Inc.

     7,525        94,062  

Columbia Banking System, Inc.(a)

     156,050        4,182,140  

Community Bankers Trust Corp.

     6,302        30,565  

Community Financial Corp. (The)

     1,444        31,912  

Community Trust Bancorp, Inc.

     44,993        1,430,327  

ConnectOne Bancorp, Inc.

     37,113        498,799  

CVB Financial Corp.

     355,977        7,137,339  

Dime Community Bancshares, Inc.

     72,994        1,000,748  

Eagle Bancorp Montana, Inc.(a)

     5,622        91,133  

Eagle Bancorp, Inc.

     48,202        1,456,182  

Enterprise Bancorp, Inc.

     25,533        689,136  

Enterprise Financial Services Corp.

     28,086        783,880  

Evans Bancorp, Inc.(a)

     16,245        394,916  

Farmers & Merchants Bancorp, Inc.

     40,664        1,053,604  

Farmers National Banc Corp.

     51,217        595,654  

FB Financial Corp.(a)

     18,650        367,778  

Fidelity D&D Bancorp, Inc.(a)

     2,323        118,519  

Financial Institutions, Inc.

     37,249        675,697  

First Bancorp

     39,429        910,021  

First Bancorp, Inc.

     31,663        696,586  

First Bancshares, Inc. (The)

     13,340        254,394  

First Bank(a)

     9,812        68,095  

First Busey Corp.

     126,097        2,157,520  

First Business Financial Services, Inc.

     22,645        350,997  

First Capital, Inc.(a)

     2,810        168,319  

First Choice Bancorp

     48,695        730,912  

First Commonwealth Financial Corp.

     200,450        1,832,113  

First Community Bankshares, Inc.

     45,912        1,069,750  

First Community Corp.

     6,574        103,343  

First Financial Bancorp(a)

     280,603        4,183,791  

First Financial Corp.

     29,762        1,003,575  

First Financial Northwest, Inc.

     41,886        420,535  

First Foundation, Inc.

     39,091        399,510  

First Guaranty Bancshares, Inc.

     26,741        385,873  

 

See Notes to Financial Statements.

 

68   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  

First Internet Bancorp

     17,036      $ 279,731  

First Interstate BancSystem, Inc. Class A

     99,097        2,857,957  

First Merchants Corp.

     109,315        2,895,754  

First Mid Bancshares, Inc.

     30,371        721,007  

First Midwest Bancorp, Inc.(a)

     209,624        2,774,374  

First Northwest Bancorp

     22,784        247,662  

First of Long Island Corp. (The)

     52,433        909,713  

First United Corp.

     8,390        119,893  

Flushing Financial Corp.

     104,408        1,394,891  

FNCB Bancorp, Inc.(a)

     26,727        184,684  

Franklin Financial Network, Inc.

     6,663        135,859  

Franklin Financial Services Corp.

     7,253        199,095  

Fulton Financial Corp.

     369,957        4,250,806  

German American Bancorp, Inc.(a)

     40,051        1,099,400  

Great Southern Bancorp, Inc.

     23,825        962,530  

Great Western Bancorp, Inc.(a)

     149,506        3,061,883  

Guaranty Bancshares, Inc.

     15,725        363,876  

Hanmi Financial Corp.

     128,074        1,389,603  

Hawthorn Bancshares, Inc.(a)

     5,482        100,595  

Heartland Financial USA, Inc.

     41,264        1,246,173  

Heritage Commerce Corp.

     182,907        1,402,897  

Heritage Financial Corp.(a)

     83,942        1,678,840  

Hilltop Holdings, Inc.

     84,084        1,271,350  

Home BancShares, Inc.

     345,737        4,145,387  

HomeTrust Bancshares, Inc.

     17,160        273,187  

Hope Bancorp, Inc.

     366,195        3,010,123  

Horizon Bancorp, Inc.

     79,533        784,195  

Independent Bank Corp.

     111,574        4,243,840  

Independent Bank Group, Inc.

     54,203        1,283,527  

International Bancshares Corp.

     127,441        3,425,614  

Lakeland Bancorp, Inc.

     112,354        1,214,547  

Lakeland Financial Corp.(a)

     48,649        1,787,851  

LCNB Corp.(a)

     47,260        595,476  

Level One Bancorp, Inc.

     8,911        160,398  

Live Oak Bancshares, Inc.(a)

     21,457        267,569  

Macatawa Bank Corp.

     57,719        410,959  

Mackinac Financial Corp.

     41,582        434,532  

Mercantile Bank Corp.

     37,694        797,982  

Metrocity Bankshares, Inc.

     51,208        601,182  

Mid Penn Bancorp, Inc.

     14,279        289,150  

Middlefield Banc Corp.(a)

     6,852        108,330  

Midland States Bancorp, Inc.(a)

     65,896        1,152,521  

MidWestOne Financial Group, Inc.

     28,355        593,754  

MutualFirst Financial, Inc.

     14,103        397,705  

MVB Financial Corp.

     4,363        55,628  

National Bank Holdings Corp. Class A

     50,933        1,217,299  

National Bankshares, Inc.

     17,436        556,208  

NBT Bancorp, Inc.

     89,140        2,887,245  

Northrim BanCorp, Inc.

     20,984        566,568  

Norwood Financial Corp.

     11,997        320,320  

Oak Valley Bancorp(a)

     2,421        38,106  

Ohio Valley Banc Corp.

     5,470        163,991  

Old National Bancorp(a)

     375,101        4,947,582  

Old Point Financial Corp.

     3,540        53,525  

Old Second Bancorp, Inc.

     5,736      39,636  

Opus Bank

     45,591        790,092  

Origin Bancorp, Inc.

     27,647        559,852  

Orrstown Financial Services, Inc.

     35,567        489,758  

Pacific Premier Bancorp, Inc.

     115,827        2,182,181  

Park National Corp.(a)

     48,810        3,789,608  

Parke Bancorp, Inc.

     21,381        288,430  

PCB Bancorp

     36,802        359,924  

Peapack Gladstone Financial Corp.

     10,993        197,324  

Penns Woods Bancorp, Inc.

     19,685        478,345  

People’s Utah Bancorp

     24,740        479,214  

Peoples Bancorp of North Carolina, Inc.

     5,576        113,527  

Peoples Bancorp, Inc.

     71,410        1,581,731  

Peoples Financial Services Corp.

     13,622        541,338  

Plumas Bancorp(a)

     2,810        51,985  

Preferred Bank

     23,334        789,156  

Premier Financial Bancorp, Inc.

     33,793        419,033  

QCR Holdings, Inc.

     5,108        138,274  

RBB Bancorp

     60,300        827,316  

Reliant Bancorp, Inc.(a)

     21,673        244,255  

Renasant Corp.

     105,565        2,305,540  

Republic Bancorp, Inc. Class A

     29,733        982,081  

S&T Bancorp, Inc.

     78,015        2,131,370  

Sandy Spring Bancorp, Inc.(a)

     87,991        1,992,116  

SB One Bancorp

     8,334        141,678  

ServisFirst Bancshares, Inc.

     74,607        2,187,477  

Shore Bancshares, Inc.

     17,627        191,253  

Sierra Bancorp

     40,629        714,258  

Simmons First National Corp. Class A(a)

     216,286        3,979,662  

SmartFinancial, Inc.

     7,798        118,608  

South Plains Financial, Inc.

     4,388        67,970  

South State Corp.(a)

     56,390        3,311,785  

Southern National Bancorp of Virginia, Inc.

     58,845        579,035  

Southside Bancshares, Inc.(a)

     88,315        2,683,893  

Stock Yards Bancorp, Inc.

     43,248        1,251,165  

Summit Financial Group, Inc.

     17,792        377,368  

Tompkins Financial Corp.(a)

     26,391        1,894,874  

Towne Bank

     140,822        2,547,470  

TriCo Bancshares

     51,433        1,533,732  

Trustmark Corp.

     131,091        3,054,420  

Union Bankshares, Inc.(a)

     12,834        288,765  

United Community Banks, Inc.

     142,387        2,607,106  

United Security Bancshares

     65,485        419,104  

Unity Bancorp, Inc.

     5,852        68,468  

Univest Financial Corp.

     65,179        1,063,721  

Veritex Holdings, Inc.(a)

     71,336        996,564  

Washington Trust Bancorp, Inc.

     51,349        1,877,319  

WesBanco, Inc.

     173,747        4,117,804  

West Bancorporation, Inc.

     41,639        680,798  

Westamerica Bancorporation(a)

     50,903        2,992,078  
     

 

 

 
Total Banks

 

     210,674,211  
Beverages – 0.1%

 

Coca-Cola Consolidated, Inc.(a)

     3,031        632,055  

 

See Notes to Financial Statements.

 

WisdomTree Trust      69  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  

MGP Ingredients, Inc.

     15,743      $ 423,329  
     

 

 

 
Total Beverages

 

     1,055,384  
Building Products – 0.7%

 

AAON, Inc.(a)

     44,221        2,136,759  

Advanced Drainage Systems, Inc.

     72,756        2,141,937  

Apogee Enterprises, Inc.

     53,743        1,118,929  

CSW Industrials, Inc.

     11,842        767,954  

Griffon Corp.(a)

     77,704        982,955  

Insteel Industries, Inc.

     6,380        84,535  

Quanex Building Products Corp.

     59,058        595,305  

Universal Forest Products, Inc.

     54,518        2,027,524  
     

 

 

 
Total Building Products

 

     9,855,898  
Capital Markets – 4.7%

 

Artisan Partners Asset Management, Inc. Class A(a)

     362,434        7,788,707  

Associated Capital Group, Inc. Class A(a)

     1,519        46,481  

B. Riley Financial, Inc.(a)

     51,879        955,611  

BGC Partners, Inc. Class A

     2,211,571        5,573,159  

BrightSphere Investment Group

     275,550        1,760,765  

Cohen & Steers, Inc.

     79,160        3,597,822  

Diamond Hill Investment Group, Inc.

     16,079        1,450,969  

Evercore, Inc. Class A

     92,255        4,249,265  

GAIN Capital Holdings, Inc.(a)

     207,061        1,155,400  

GAMCO Investors, Inc. Class A

     1,784        19,606  

Greenhill & Co., Inc.(a)

     22,190        218,350  

Hamilton Lane, Inc. Class A(a)

     43,438        2,402,556  

Houlihan Lokey, Inc.

     83,210        4,336,905  

Moelis & Co. Class A(a)

     244,334        6,865,785  

Oppenheimer Holdings, Inc. Class A

     21,853        431,815  

Piper Sandler Cos.

     19,658        994,105  

PJT Partners, Inc. Class A

     8,016        347,814  

Pzena Investment Management, Inc. Class A

     7,106        31,693  

Sculptor Capital Management, Inc.(a)

     5,267        71,315  

Silvercrest Asset Management Group, Inc. Class A

     43,591        412,371  

Tradeweb Markets, Inc. Class A

     35,021        1,472,283  

Value Line, Inc.

     19,148        619,438  

Victory Capital Holdings, Inc. Class A(a)

     12,938        211,666  

Virtu Financial, Inc. Class A(a)

     532,219        11,080,800  

Virtus Investment Partners, Inc.

     11,459        872,144  

Waddell & Reed Financial, Inc. Class A

     327,546        3,727,473  

Westwood Holdings Group, Inc.

     69,673        1,275,713  
     

 

 

 
Total Capital Markets

 

     61,970,011  
Chemicals – 4.1%

 

Advanced Emissions Solutions, Inc.(a)

     202,309        1,329,170  

American Vanguard Corp.

     14,993        216,799  

Cabot Corp.

     188,407        4,921,191  

Chase Corp.

     7,353        605,078  

Chemours Co. (The)

     1,086,221        9,634,780  

FutureFuel Corp.

     93,583        1,054,680  

H.B. Fuller Co.(a)

     69,673        1,945,967  

Hawkins, Inc.

     27,855        991,638  

Innospec, Inc.

     30,142        2,094,567  

Kronos Worldwide, Inc.

     694,887      5,864,846  

Minerals Technologies, Inc.

     11,790        427,505  

Olin Corp.(a)

     839,892        9,801,540  

PolyOne Corp.

     225,378        4,275,421  

Quaker Chemical Corp.

     18,756        2,368,508  

Sensient Technologies Corp.

     115,419        5,021,881  

Stepan Co.

     27,380        2,422,035  

Tredegar Corp.

     75,955        1,187,177  

Valhi, Inc.

     356,421        367,114  
     

 

 

 
Total Chemicals

 

     54,529,897  
Commercial Services & Supplies – 4.8%

 

ABM Industries, Inc.

     145,800        3,551,688  

ACCO Brands Corp.

     322,784        1,630,059  

Brady Corp. Class A

     88,556        3,996,532  

Covanta Holding Corp.

     1,009,028        8,627,189  

Deluxe Corp.

     115,794        3,002,538  

Ennis, Inc.

     129,170        2,425,813  

Healthcare Services Group, Inc.(a)

     272,656        6,519,205  

Herman Miller, Inc.

     121,522        2,697,788  

HNI Corp.

     149,373        3,762,706  

Interface, Inc.

     96,162        726,985  

KAR Auction Services, Inc.(a)

     516,616        6,199,392  

Kimball International, Inc. Class B

     76,228        907,876  

Knoll, Inc.

     137,209        1,415,997  

Matthews International Corp. Class A(a)

     78,168        1,890,884  

McGrath RentCorp

     57,517        3,012,740  

Mobile Mini, Inc.(a)

     145,095        3,805,842  

Pitney Bowes, Inc.(a)

     879,206        1,793,580  

Quad/Graphics, Inc.(a)

     526,787        1,327,503  

RR Donnelley & Sons Co.(a)

     254,266        243,714  

Steelcase, Inc. Class A

     308,392        3,043,829  

U.S. Ecology, Inc.

     36,404        1,106,682  

UniFirst Corp.

     7,998        1,208,418  

Viad Corp.

     15,325        325,350  

VSE Corp.

     10,712        175,570  
     

 

 

 
Total Commercial Services & Supplies

 

     63,397,880  
Communications Equipment – 0.6%

 

ADTRAN, Inc.

     206,286        1,584,277  

Comtech Telecommunications Corp.

     30,529        405,730  

InterDigital, Inc.

     91,783        4,096,275  

PC-Tel, Inc.*(a)

     40,764        271,081  

Plantronics, Inc.(a)

     108,874        1,095,272  
     

 

 

 
Total Communications Equipment

 

     7,452,635  
Construction & Engineering – 0.9%

 

Arcosa, Inc.

     24,368        968,384  

Argan, Inc.(a)

     48,358        1,671,736  

Comfort Systems USA, Inc.

     32,303        1,180,675  

Fluor Corp.(a)

     354,615        2,450,390  

Granite Construction, Inc.(a)

     102,163        1,550,834  

Primoris Services Corp.

     58,086        923,567  

Valmont Industries, Inc.

     28,061        2,973,905  
     

 

 

 
Total Construction & Engineering

 

     11,719,491  

 

See Notes to Financial Statements.

 

70   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  
Construction Materials – 0.0%

 

United States Lime & Minerals, Inc.

     5,809      $ 428,995  
Consumer Finance – 0.5%

 

Navient Corp.

     769,146        5,830,127  

Nelnet, Inc. Class A

     27,577        1,252,271  
     

 

 

 
Total Consumer Finance

 

     7,082,398  
Containers & Packaging – 0.8%

 

Greif, Inc. Class A(a)

     118,806        3,693,679  

Greif, Inc. Class B

     68,523        2,745,031  

Myers Industries, Inc.

     123,194        1,324,335  

O-I Glass, Inc.

     307,742        2,188,046  
     

 

 

 
Total Containers & Packaging

 

     9,951,091  
Distributors – 0.3%

 

Core-Mark Holding Co., Inc.

     95,483        2,727,950  

Weyco Group, Inc.

     39,666        800,063  
     

 

 

 
Total Distributors

 

     3,528,013  
Diversified Consumer Services – 0.6%

 

Carriage Services, Inc.(a)

     26,981        435,743  

Collectors Universe, Inc.

     31,636        495,736  

Franchise Group, Inc.

     54,515        475,371  

Graham Holdings Co. Class B

     4,124        1,406,985  

Strategic Education, Inc.

     39,977        5,587,186  
     

 

 

 
Total Diversified Consumer Services

 

     8,401,021  
Diversified Financial Services – 0.1%

 

Alerus Financial Corp.(a)

     41,696        688,818  

Marlin Business Services Corp.

     27,675        309,130  
     

 

 

 
Total Diversified Financial Services

 

     997,948  
Diversified Telecommunication Services – 1.4%

 

ATN International, Inc.

     20,506        1,203,907  

Cogent Communications Holdings, Inc.

     215,420        17,657,978  
     

 

 

 
Total Diversified Telecommunication Services

 

     18,861,885  
Electric Utilities – 1.4%

 

El Paso Electric Co.

     105,140        7,145,314  

Genie Energy Ltd. Class B(a)

     153,236        1,100,234  

MGE Energy, Inc.

     70,417        4,610,201  

Otter Tail Corp.

     124,071        5,516,197  

Spark Energy, Inc. Class A

     108,980        683,305  
     

 

 

 
Total Electric Utilities

 

     19,055,251  
Electrical Equipment – 0.4%

 

Allied Motion Technologies, Inc.

     3,579        84,822  

AZZ, Inc.

     43,342        1,218,777  

Encore Wire Corp.

     3,179        133,486  

EnerSys

     43,852        2,171,551  

LSI Industries, Inc.

     99,857        377,460  

Powell Industries, Inc.

     42,026        1,078,808  

Preformed Line Products Co.

     6,663        332,017  
     

 

 

 
Total Electrical Equipment

 

     5,396,921  
Electronic Equipment, Instruments & Components – 1.1%

 

Badger Meter, Inc.(a)

     34,358        1,841,589  

Bel Fuse, Inc. Class B

     15,220        148,243  

Belden, Inc.(a)

     18,180      655,934  

Benchmark Electronics, Inc.

     75,216        1,503,568  

CTS Corp.

     19,929        496,033  

Daktronics, Inc.

     166,626        821,466  

KEMET Corp.

     47,890        1,157,022  

Methode Electronics, Inc.

     50,279        1,328,874  

MTS Systems Corp.

     53,653        1,207,193  

PC Connection, Inc.(a)

     22,902        943,791  

Vishay Intertechnology, Inc.

     275,158        3,965,027  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     14,068,740  
Energy Equipment & Services – 0.6%

 

Archrock, Inc.

     1,074,891        4,041,590  

Cactus, Inc. Class A

     56,913        660,191  

DMC Global, Inc.

     15,201        349,775  

Liberty Oilfield Services, Inc. Class A(a)

     157,401        423,409  

Patterson-UTI Energy, Inc.(a)

     338,972        796,584  

Solaris Oilfield Infrastructure, Inc. Class A(a)

     109,840        576,660  

U.S. Silica Holdings, Inc.(a)

     373,362        672,051  
     

 

 

 
Total Energy Equipment & Services

 

     7,520,260  
Entertainment – 0.3%

 

AMC Entertainment Holdings, Inc. Class A(a)

     552,627        1,746,301  

Marcus Corp. (The)

     50,212        618,612  

World Wrestling Entertainment, Inc. Class A(a)

     39,527        1,341,151  
     

 

 

 
Total Entertainment

 

     3,706,064  
Equity Real Estate Investment Trusts (REITs) – 14.7%

 

Acadia Realty Trust

     184,176        2,281,941  

Agree Realty Corp.

     69,596        4,307,992  

Alexander & Baldwin, Inc.

     122,170        1,370,747  

Alexander’s, Inc.

     13,847        3,821,080  

American Assets Trust, Inc.

     74,821        1,870,525  

American Finance Trust, Inc.

     408,431        2,552,694  

Armada Hoffler Properties, Inc.

     122,732        1,313,232  

Bluerock Residential Growth REIT, Inc.(a)

     75,892        422,718  

Brandywine Realty Trust

     434,963        4,575,811  

Brookfield Property REIT, Inc. Class A(a)

     255,612        2,170,146  

BRT Apartments Corp.

     44,646        457,622  

CareTrust REIT, Inc.

     204,091        3,018,506  

CatchMark Timber Trust, Inc. Class A(a)

     125,426        905,576  

Cedar Realty Trust, Inc.

     416,210        388,366  

CIM Commercial Trust Corp.(a)

     15,611        173,126  

Clipper Realty, Inc.

     60,633        314,079  

Colony Capital, Inc.

     2,249,335        3,936,336  

Columbia Property Trust, Inc.

     235,123        2,939,037  

Community Healthcare Trust, Inc.

     44,228        1,693,048  

CoreCivic, Inc.

     634,395        7,086,192  

CorEnergy Infrastructure Trust, Inc.(a)

     44,732        822,174  

CorePoint Lodging, Inc.

     232,566        911,659  

Diversified Healthcare Trust(a)

     915,690        3,323,955  

Easterly Government Properties, Inc.(a)

     162,004        3,991,779  

Empire State Realty Trust, Inc. Class A

     256,764        2,300,605  

Essential Properties Realty Trust, Inc.

     133,286        1,740,715  

Farmland Partners, Inc.

     65,357        396,717  

 

See Notes to Financial Statements.

 

WisdomTree Trust      71  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  

Four Corners Property Trust, Inc.

     149,681      $ 2,800,532  

Franklin Street Properties Corp.(a)

     211,721        1,213,161  

GEO Group, Inc. (The)(a)

     662,835        8,060,074  

Getty Realty Corp.

     86,854        2,061,914  

Gladstone Commercial Corp.

     97,512        1,400,272  

Gladstone Land Corp.(a)

     49,343        584,715  

Global Medical REIT, Inc.

     105,573        1,068,399  

Global Net Lease, Inc.(a)

     463,211        6,193,131  

Hannon Armstrong Sustainable Infrastructure Capital, Inc.

     135,168        2,758,779  

Independence Realty Trust, Inc.

     251,152        2,245,299  

Industrial Logistics Properties Trust

     225,999        3,964,022  

Innovative Industrial Properties, Inc.

     23,333        1,771,675  

Investors Real Estate Trust

     19,789        1,088,395  

iStar, Inc.(a)

     88,766        941,807  

Jernigan Capital, Inc.

     88,684        971,977  

Kite Realty Group Trust

     274,952        2,603,795  

Lexington Realty Trust

     473,756        4,704,397  

LTC Properties, Inc.(a)

     99,268        3,067,381  

Mack-Cali Realty Corp.

     163,538        2,490,684  

Monmouth Real Estate Investment Corp.

     214,952        2,590,172  

National Storage Affiliates Trust

     117,735        3,484,956  

New Senior Investment Group, Inc.

     264,396        676,854  

NexPoint Residential Trust, Inc.(a)

     31,892        803,997  

Office Properties Income Trust(a)

     164,697        4,487,993  

One Liberty Properties, Inc.

     60,009        835,925  

Paramount Group, Inc.

     324,674        2,857,131  

Pennsylvania Real Estate Investment Trust(a)

     472,266        430,518  

Piedmont Office Realty Trust, Inc. Class A

     235,913        4,166,224  

Plymouth Industrial REIT, Inc.

     46,207        515,670  

PotlatchDeltic Corp.(a)

     121,332        3,808,611  

Preferred Apartment Communities, Inc. Class A(a)

     171,491        1,231,305  

QTS Realty Trust, Inc. Class A(a)

     95,192        5,522,088  

Retail Opportunity Investments Corp.

     247,529        2,052,015  

Retail Properties of America, Inc. Class A

     502,074        2,595,723  

Retail Value, Inc.

     51,990        636,878  

RLJ Lodging Trust

     624,885        4,824,112  

RPT Realty(a)

     228,209        1,376,100  

Safehold, Inc.

     35,536        2,246,941  

Saul Centers, Inc.

     45,345        1,484,595  

SITE Centers Corp.

     568,342        2,961,062  

Sunstone Hotel Investors, Inc.

     147,857        1,287,834  

Tanger Factory Outlet Centers, Inc.(a)

     420,340        2,101,700  

Taubman Centers, Inc.

     263,261        11,025,371  

UMH Properties, Inc.(a)

     85,614        929,768  

Uniti Group, Inc.

     1,011,536        6,099,562  

Universal Health Realty Income Trust

     21,227        2,139,894  

Urban Edge Properties

     261,278        2,301,859  

Urstadt Biddle Properties, Inc. Class A

     66,573        938,679  

Washington Prime Group, Inc.(a)

     1,205,185        970,294  

Washington Real Estate Investment Trust

     155,116        3,702,619  

Whitestone REIT

     166,954        1,035,115  

Xenia Hotels & Resorts, Inc.

     281,622      2,900,707  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     194,099,059  
Food & Staples Retailing – 1.1%

 

Andersons, Inc. (The)

     102,601        1,923,769  

Ingles Markets, Inc. Class A(a)

     28,431        1,028,065  

Natural Grocers by Vitamin Cottage, Inc.(a)

     93,345        794,366  

PriceSmart, Inc.

     32,428        1,704,091  

SpartanNash Co.

     236,610        3,388,255  

Village Super Market, Inc. Class A

     47,112        1,158,013  

Weis Markets, Inc.(a)

     95,583        3,981,988  
     

 

 

 
Total Food & Staples Retailing

 

     13,978,547  
Food Products – 1.5%

 

Alico, Inc.

     8,191        254,249  

B&G Foods, Inc.(a)

     824,833        14,921,229  

Calavo Growers, Inc.(a)

     24,254        1,399,213  

John B. Sanfilippo & Son, Inc.(a)

     6,226        556,604  

Limoneira Co.(a)

     27,470        359,857  

Tootsie Roll Industries, Inc.

     46,352        1,666,807  
     

 

 

 
Total Food Products

 

     19,157,959  
Gas Utilities – 1.4%

 

Chesapeake Utilities Corp.

     30,935        2,651,439  

Northwest Natural Holding Co.(a)

     93,163        5,752,815  

RGC Resources, Inc.

     20,153        583,026  

South Jersey Industries, Inc.(a)

     393,311        9,832,775  
     

 

 

 
Total Gas Utilities

 

     18,820,055  
Health Care Equipment & Supplies – 0.2%

 

Atrion Corp.(a)

     1,806        1,173,900  

Invacare Corp.

     19,682        146,237  

LeMaitre Vascular, Inc.(a)

     20,853        519,657  

Mesa Laboratories, Inc.(a)

     1,204        272,212  

Utah Medical Products, Inc.

     5,216        490,565  
     

 

 

 
Total Health Care Equipment & Supplies

 

     2,602,571  
Health Care Providers & Services – 1.2%

 

Ensign Group, Inc. (The)

     25,692        966,276  

National HealthCare Corp.

     43,799        3,141,702  

National Research Corp.

     42,308        1,924,168  

Owens & Minor, Inc.(a)

     15,973        146,153  

Patterson Cos., Inc.

     538,538        8,234,246  

U.S. Physical Therapy, Inc.(a)

     14,339        989,391  
     

 

 

 
Total Health Care Providers & Services

 

     15,401,936  
Health Care Technology – 0.1%

 

Computer Programs & Systems, Inc.

     24,365        542,121  

Simulations Plus, Inc.

     20,965        732,098  
     

 

 

 
Total Health Care Technology

 

     1,274,219  
Hotels, Restaurants & Leisure – 1.5%

 

BBX Capital Corp.

     85,466        197,426  

Bluegreen Vacations Corp.(a)

     211,772        1,224,042  

Brinker International, Inc.(a)

     146,944        1,764,797  

Cheesecake Factory, Inc. (The)(a)

     181,684        3,103,163  

Dave & Buster’s Entertainment, Inc.(a)

     54,533        713,291  

 

See Notes to Financial Statements.

 

72   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  

Dine Brands Global, Inc.

     62,044      $ 1,779,422  

Hyatt Hotels Corp. Class A(a)

     36,332        1,740,303  

Jack in the Box, Inc.(a)

     53,577        1,877,874  

Nathan’s Famous, Inc.(a)

     7,919        483,059  

Papa John’s International, Inc.(a)

     53,337        2,846,596  

RCI Hospitality Holdings, Inc.(a)

     5,060        50,448  

Red Rock Resorts, Inc. Class A(a)

     131,176        1,121,555  

Ruth’s Hospitality Group, Inc.(a)

     73,982        494,200  

Twin River Worldwide Holdings, Inc.

     58,692        763,583  

Wingstop, Inc.

     16,051        1,279,265  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     19,439,024  
Household Durables – 0.9%

 

Bassett Furniture Industries, Inc.

     33,803        184,226  

Ethan Allen Interiors, Inc.

     141,108        1,442,124  

Flexsteel Industries, Inc.

     35,291        386,789  

Hamilton Beach Brands Holding Co. Class A(a)

     18,841        179,178  

Hooker Furniture Corp.(a)

     35,178        549,129  

KB Home(a)

     99,355        1,798,325  

La-Z-Boy, Inc.

     90,150        1,852,582  

Lifetime Brands, Inc.(a)

     8,675        49,014  

MDC Holdings, Inc.(a)

     214,743        4,982,038  
     

 

 

 
Total Household Durables

 

     11,423,405  
Household Products – 0.7%

 

Oil-Dri Corp. of America(a)

     15,715        525,510  

Spectrum Brands Holdings, Inc.(a)

     147,996        5,382,614  

WD-40 Co.

     19,508        3,918,182  
     

 

 

 
Total Household Products

 

     9,826,306  
Independent Power & Renewable Electricity Producers – 0.7%

 

Clearway Energy, Inc. Class A

     168,706        2,896,682  

Clearway Energy, Inc. Class C(a)

     342,504        6,439,075  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     9,335,757  
Industrial Conglomerates – 0.1%

 

Raven Industries, Inc.

     59,063        1,253,907  
Insurance – 3.3%

 

American Equity Investment Life Holding Co.

     67,382        1,266,782  

AMERISAFE, Inc.

     22,087        1,423,949  

CNO Financial Group, Inc.(a)

     272,701        3,378,765  

Crawford & Co. Class A(a)

     44,247        318,578  

Crawford & Co. Class B

     42,046        268,674  

Donegal Group, Inc. Class A

     64,573        981,510  

Employers Holdings, Inc.

     49,702        2,013,428  

FBL Financial Group, Inc. Class A

     64,521        3,011,195  

FedNat Holding Co.

     37,176        426,781  

HCI Group, Inc.(a)

     24,069        968,777  

Heritage Insurance Holdings, Inc.

     45,906        491,653  

Horace Mann Educators Corp.

     82,147        3,005,759  

Independence Holding Co.

     7,627        194,946  

Investors Title Co.

     774        99,072  

Kinsale Capital Group, Inc.(a)

     5,332        557,354  

Mercury General Corp.

     220,645        8,984,664  

National General Holdings Corp.

     77,842        1,288,285  

National Western Life Group, Inc. Class A

     314      54,008  

ProAssurance Corp.

     138,632        3,465,800  

Protective Insurance Corp. Class B

     44,454        611,243  

Safety Insurance Group, Inc.

     44,000        3,714,920  

State Auto Financial Corp.

     42,152        1,171,404  

Stewart Information Services Corp.

     50,699        1,352,142  

Tiptree, Inc.

     35,734        186,532  

United Fire Group, Inc.(a)

     58,363        1,903,217  

United Insurance Holdings Corp.

     69,967        646,495  

Universal Insurance Holdings, Inc.

     56,810        1,018,035  
     

 

 

 
Total Insurance

 

     42,803,968  
Internet & Direct Marketing Retail – 0.2%

 

PetMed Express, Inc.(a)

     106,863        3,075,517  
IT Services – 1.1%

 

Cass Information Systems, Inc.

     29,688        1,043,830  

CSG Systems International, Inc.

     57,897        2,422,990  

Hackett Group, Inc. (The)

     78,744        1,001,624  

ManTech International Corp. Class A

     44,375        3,224,731  

NIC, Inc.

     107,259        2,466,957  

Switch, Inc. Class A

     74,909        1,080,937  

TTEC Holdings, Inc.

     92,652        3,402,181  
     

 

 

 
Total IT Services

 

     14,643,250  
Leisure Products – 0.5%

 

Acushnet Holdings Corp.

     163,775        4,212,293  

Callaway Golf Co.

     19,566        199,964  

Clarus Corp.(a)

     36,657        359,239  

Escalade, Inc.(a)

     42,838        254,886  

Johnson Outdoors, Inc. Class A

     8,577        537,778  

Marine Products Corp.

     95,324        770,218  

Sturm Ruger & Co., Inc.

     16,794        854,983  
     

 

 

 
Total Leisure Products

 

     7,189,361  
Life Sciences Tools & Services – 0.2%

 

Luminex Corp.

     83,884        2,309,327  
Machinery – 4.3%

 

Alamo Group, Inc.

     5,261        467,072  

Albany International Corp. Class A

     31,819        1,505,993  

Altra Industrial Motion Corp.

     141,796        2,480,012  

Astec Industries, Inc.

     27,159        949,750  

Barnes Group, Inc.

     56,816        2,376,613  

Columbus McKinnon Corp.

     15,822        395,550  

Douglas Dynamics, Inc.

     58,851        2,089,799  

Eastern Co. (The)

     13,671        266,585  

Enerpac Tool Group Corp.(a)

     9,927        164,292  

EnPro Industries, Inc.

     33,992        1,345,403  

ESCO Technologies, Inc.

     11,766        893,157  

Federal Signal Corp.

     77,705        2,119,792  

Franklin Electric Co., Inc.

     52,323        2,465,983  

Gorman-Rupp Co. (The)

     47,322        1,476,920  

Graham Corp.

     24,181        311,935  

Greenbrier Cos., Inc. (The)(a)

     121,711        2,159,153  

Helios Technologies, Inc.

     29,087        1,102,979  

Hillenbrand, Inc.(a)

     215,108        4,110,714  

 

See Notes to Financial Statements.

 

WisdomTree Trust      73  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  

Hurco Cos., Inc.

     8,337      $ 242,607  

Hyster-Yale Materials Handling, Inc.(a)

     28,899        1,158,561  

Kadant, Inc.

     10,726        800,696  

Kennametal, Inc.(a)

     200,275        3,729,120  

Lindsay Corp.(a)

     15,612        1,429,747  

Miller Industries, Inc.

     33,715        953,460  

Mueller Industries, Inc.

     77,749        1,861,311  

Mueller Water Products, Inc. Class A

     321,178        2,572,636  

Omega Flex, Inc.(a)

     14,302        1,207,089  

Park-Ohio Holdings Corp.

     17,598        333,306  

REV Group, Inc.(a)

     123,628        515,529  

Spartan Motors, Inc.

     24,845        320,749  

Standex International Corp.

     15,509        760,251  

Tennant Co.

     22,569        1,307,874  

Terex Corp.(a)

     114,516        1,644,450  

Titan International, Inc.

     39,528        61,268  

Trinity Industries, Inc.

     462,100        7,425,947  

Wabash National Corp.

     115,298        832,452  

Watts Water Technologies, Inc. Class A

     29,433        2,491,503  
     

 

 

 
Total Machinery

 

     56,330,258  
Marine – 0.3%

 

Matson, Inc.(a)

     114,375        3,502,162  
Media – 1.7%

 

Entercom Communications Corp. Class A

     262,822        449,426  

Entravision Communications Corp. Class A

     480,425        975,263  

EW Scripps Co. (The) Class A(a)

     102,093        769,781  

Gannett Co., Inc.(a)

     1,737,620        2,571,678  

John Wiley & Sons, Inc. Class A

     146,735        5,501,095  

Meredith Corp.(a)

     292,894        3,579,165  

National CineMedia, Inc.(a)

     846,898        2,760,887  

Saga Communications, Inc. Class A(a)

     19,507        536,638  

Scholastic Corp.

     57,023        1,453,516  

Sinclair Broadcast Group, Inc. Class A(a)

     198,731        3,195,594  

Townsquare Media, Inc. Class A

     52,728        243,076  
     

 

 

 
Total Media

 

     22,036,119  
Metals & Mining – 2.2%

 

Carpenter Technology Corp.

     77,763        1,516,378  

Cleveland-Cliffs, Inc.

     850,252        3,358,495  

Commercial Metals Co.

     288,296        4,552,194  

Compass Minerals International, Inc.(a)

     190,628        7,333,459  

Gold Resource Corp.

     53,801        147,953  

Haynes International, Inc.

     31,918        657,830  

Hecla Mining Co.(a)

     180,374        328,281  

Kaiser Aluminum Corp.

     36,187        2,507,035  

Materion Corp.(a)

     16,392        573,884  

Olympic Steel, Inc.

     5,413        56,025  

Schnitzer Steel Industries, Inc. Class A

     100,621        1,312,098  

SunCoke Energy, Inc.(a)

     402,526        1,549,725  

United States Steel Corp.(a)

     271,551        1,713,487  

Worthington Industries, Inc.

     151,931        3,988,189  
     

 

 

 
Total Metals & Mining

 

     29,595,033  
Multi-Utilities – 1.0%

 

Avista Corp.

     244,519      10,389,612  

Unitil Corp.

     44,640        2,335,565  
     

 

 

 
Total Multi-Utilities

 

     12,725,177  
Multiline Retail – 0.3%

 

Big Lots, Inc.

     191,036        2,716,532  

Dillard’s, Inc. Class A

     19,894        735,083  
     

 

 

 
Total Multiline Retail

 

     3,451,615  
Oil, Gas & Consumable Fuels – 3.2%

 

Adams Resources & Energy, Inc.

     10,291        241,839  

Amplify Energy Corp.

     465,566        263,464  

Antero Midstream Corp.(a)

     5,312,419        11,156,080  

Arch Coal, Inc. Class A(a)

     39,932        1,154,035  

Berry Corp.(a)

     483,477        1,165,180  

Brigham Minerals, Inc. Class A(a)

     170,914        1,413,459  

Delek U.S. Holdings, Inc.(a)

     302,915        4,773,940  

Equitrans Midstream Corp.(a)

     3,148,873        15,838,831  

Evolution Petroleum Corp.(a)

     270,327        705,554  

Falcon Minerals Corp.(a)

     420,801        904,722  

NACCO Industries, Inc. Class A

     11,240        314,495  

Panhandle Oil and Gas, Inc. Class A

     23,238        85,748  

Peabody Energy Corp.(a)

     606,087        1,757,652  

SM Energy Co.(a)

     132,986        162,243  

World Fuel Services Corp.

     67,130        1,690,333  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     41,627,575  
Paper & Forest Products – 1.2%

 

Boise Cascade Co.

     46,094        1,096,115  

Domtar Corp.

     306,558        6,633,915  

Neenah, Inc.

     49,235        2,123,506  

PH Glatfelter Co.

     133,399        1,630,136  

Schweitzer-Mauduit International, Inc.(a)

     135,982        3,783,019  
     

 

 

 
Total Paper & Forest Products

 

     15,266,691  
Personal Products – 0.9%

 

Inter Parfums, Inc.

     69,858        3,237,918  

Medifast, Inc.

     65,142        4,071,375  

Nu Skin Enterprises, Inc. Class A

     236,743        5,172,835  
     

 

 

 
Total Personal Products

 

     12,482,128  
Pharmaceuticals – 0.1%

 

Phibro Animal Health Corp. Class A

     45,796        1,106,889  
Professional Services – 0.8%

 

Barrett Business Services, Inc.

     11,940        473,302  

BG Staffing, Inc.

     69,767        521,857  

CRA International, Inc.

     15,934        532,355  

Heidrick & Struggles International, Inc.

     39,529        889,402  

ICF International, Inc.

     12,714        873,452  

Insperity, Inc.

     62,953        2,348,147  

Kelly Services, Inc. Class A

     51,312        651,149  

Kforce, Inc.

     51,630        1,320,179  

Korn Ferry

     58,793        1,429,846  

Resources Connection, Inc.

     122,648        1,345,449  
     

 

 

 
Total Professional Services

 

     10,385,138  

 

See Notes to Financial Statements.

 

74   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  
Real Estate Management & Development – 0.2%

 

Consolidated-Tomoka Land Co.(a)

     1,253      $ 56,799  

Griffin Industrial Realty, Inc.

     2,982        97,511  

Newmark Group, Inc. Class A

     221,782        942,574  

RE/MAX Holdings, Inc. Class A

     18,137        397,563  

RMR Group, Inc. (The) Class A

     23,891        644,340  
     

 

 

 
Total Real Estate Management & Development

 

     2,138,787  
Road & Rail – 1.1%

 

ArcBest Corp.

     32,468        568,839  

Heartland Express, Inc.

     34,358        638,028  

Marten Transport Ltd.

     34,331        704,472  

Ryder System, Inc.

     259,328        6,856,632  

Schneider National, Inc. Class B

     111,710        2,160,472  

Universal Logistics Holdings, Inc.

     65,639        859,871  

Werner Enterprises, Inc.

     76,959        2,790,533  
     

 

 

 
Total Road & Rail

 

     14,578,847  
Semiconductors & Semiconductor Equipment – 0.6%

 

Cohu, Inc.(a)

     61,308        758,993  

NVE Corp.

     31,832        1,656,219  

Power Integrations, Inc.

     26,074        2,303,116  

Xperi Corp.(a)

     212,760        2,959,492  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     7,677,820  
Software – 0.4%

 

American Software, Inc. Class A

     115,195        1,636,921  

Ebix, Inc.(a)

     29,078        441,404  

GlobalSCAPE, Inc.(a)

     7,262        51,705  

Progress Software Corp.

     82,384        2,636,288  

QAD, Inc. Class A

     12,819        511,863  
     

 

 

 
Total Software

 

     5,278,181  
Specialty Retail – 2.7%

 

Abercrombie & Fitch Co. Class A(a)

     339,252        3,083,801  

American Eagle Outfitters, Inc.(a)

     728,403        5,790,804  

Bed Bath & Beyond, Inc.(a)

     632,340        2,662,151  

Caleres, Inc.(a)

     55,937        290,872  

Camping World Holdings, Inc. Class A(a)

     99,455        565,899  

Cato Corp. (The) Class A

     192,701        2,056,120  

Chico’s FAS, Inc.(a)

     1,136,700        1,466,343  

Citi Trends, Inc.

     25,743        229,113  

Designer Brands, Inc. Class A

     487,856        2,429,523  

Dick’s Sporting Goods, Inc.(a)

     165,013        3,508,176  

Group 1 Automotive, Inc.(a)

     22,296        986,821  

Guess?, Inc.(a)

     186,004        1,259,247  

Haverty Furniture Cos., Inc.(a)

     76,444        908,919  

Monro, Inc.

     40,339        1,767,252  

Office Depot, Inc.(a)

     2,507,091        4,111,629  

Rent-A-Center, Inc.(a)

     257,495        3,640,979  

Shoe Carnival, Inc.

     19,372        402,356  

Sonic Automotive, Inc. Class A(a)

     42,888        569,553  

Winmark Corp.

     2,230        284,147  
     

 

 

 
Total Specialty Retail

 

     36,013,705  
Technology Hardware, Storage & Peripherals – 0.0%

 

AstroNova, Inc.

     10,940        84,894  
Textiles, Apparel & Luxury Goods – 0.8%

 

Culp, Inc.

     28,988      213,352  

Kontoor Brands, Inc.(a)

     369,156        7,076,720  

Oxford Industries, Inc.

     36,500        1,323,490  

Rocky Brands, Inc.

     19,471        376,764  

Superior Group of Cos., Inc.

     43,582        368,704  

Wolverine World Wide, Inc.

     106,752        1,622,630  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     10,981,660  
Thrifts & Mortgage Finance – 2.5%

 

Capitol Federal Financial, Inc.

     265,256        3,079,622  

ESSA Bancorp, Inc.

     18,095        246,997  

Federal Agricultural Mortgage Corp. Class C

     22,815        1,269,198  

First Defiance Financial Corp.

     83,496        1,230,731  

Flagstar Bancorp, Inc.

     17,906        355,076  

FS Bancorp, Inc.

     2,626        94,536  

Hingham Institution for Savings

     1,048        151,949  

Home Bancorp, Inc.

     16,545        404,029  

Kearny Financial Corp.

     128,414        1,103,076  

Luther Burbank Corp.

     84,496        774,828  

Merchants Bancorp

     45,497        690,644  

Meridian Bancorp, Inc.

     64,889        728,055  

Meta Financial Group, Inc.

     16,405        356,317  

Northfield Bancorp, Inc.

     97,505        1,091,081  

Northwest Bancshares, Inc.(a)

     355,735        4,115,854  

OceanFirst Financial Corp.

     109,825        1,747,316  

OP Bancorp

     22,231        165,843  

PB Bancorp, Inc.(a)

     7,393        110,156  

PCSB Financial Corp.

     11,883        166,243  

PennyMac Financial Services, Inc.(a)

     83,403        1,844,040  

Provident Financial Holdings, Inc.

     10,491        159,778  

Provident Financial Services, Inc.

     182,385        2,345,471  

Prudential Bancorp, Inc.

     6,661        98,583  

Riverview Bancorp, Inc.

     73,354        367,504  

Southern Missouri Bancorp, Inc.

     9,904        240,370  

Standard AVB Financial Corp.

     8,092        171,227  

Sterling Bancorp, Inc.(a)

     42,146        181,228  

Territorial Bancorp, Inc.

     22,551        553,627  

Timberland Bancorp, Inc.

     13,335        243,897  

TrustCo Bank Corp.

     226,708        1,226,490  

Walker & Dunlop, Inc.

     41,547        1,673,098  

Washington Federal, Inc.

     138,357        3,591,748  

Waterstone Financial, Inc.

     53,089        771,914  

Western New England Bancorp, Inc.

     83,078        561,607  

WSFS Financial Corp.

     43,112        1,074,351  
     

 

 

 
Total Thrifts & Mortgage Finance

 

     32,986,484  
Tobacco – 1.5%

 

Turning Point Brands, Inc.(a)

     14,773        311,858  

Universal Corp.

     153,751        6,797,332  

Vector Group Ltd.(a)

     1,297,874        12,225,973  
     

 

 

 
Total Tobacco

 

     19,335,163  
Trading Companies & Distributors – 1.2%

 

Applied Industrial Technologies, Inc.

     80,494        3,680,186  

 

See Notes to Financial Statements.

 

WisdomTree Trust      75  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2020

 

 

 

Investments    Shares      Value  

GATX Corp.(a)

     86,941      $ 5,439,029  

H&E Equipment Services, Inc.

     133,481        1,959,501  

Kaman Corp.

     39,585        1,522,835  

Rush Enterprises, Inc. Class A

     43,054        1,374,284  

Rush Enterprises, Inc. Class B

     10,399        317,273  

Systemax, Inc.

     81,452        1,444,144  
     

 

 

 
Total Trading Companies & Distributors

 

     15,737,252  
Water Utilities – 1.4%

 

American States Water Co.

     67,137        5,487,778  

Artesian Resources Corp. Class A

     25,572        955,881  

California Water Service Group

     86,441        4,349,711  

Global Water Resources, Inc.

     75,940        773,829  

Middlesex Water Co.

     37,708        2,267,005  

SJW Group

     55,505        3,206,524  

York Water Co. (The)

     25,550        1,110,403  
     

 

 

 
Total Water Utilities

 

     18,151,131  
Wireless Telecommunication Services – 0.6%

 

Shenandoah Telecommunications Co.(a)

     41,653        2,051,410  

Spok Holdings, Inc.

     88,079        941,565  

Telephone & Data Systems, Inc.

     329,780        5,527,113  
     

 

 

 
Total Wireless Telecommunication Services

 

     8,520,088  
Total United States

 

     1,306,404,569  
Puerto Rico – 0.3%

 

Banks – 0.2%

 

First Bancorp

     306,879        1,632,596  

OFG Bancorp

     47,584        531,989  
     

 

 

 
Total Banks

 

     2,164,585  
IT Services – 0.1%

 

EVERTEC, Inc.(a)      49,549      1,126,249  
Total Puerto Rico

 

     3,290,834  
TOTAL COMMON STOCKS
(Cost: $1,884,001,549)

 

     1,309,695,403  
EXCHANGE-TRADED FUND – 0.2%

 

United States – 0.2%

 

WisdomTree U.S. MidCap Dividend Fund(a)(b)

     
(Cost: $2,368,199)      101,404        2,449,921  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 8.0%

 

United States – 8.0%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(c)

 

  
(Cost: $105,530,795)      105,530,795        105,530,795  

TOTAL INVESTMENTS IN SECURITIES – 107.7%

(Cost: $1,991,900,543)

 

 

     1,417,676,119  

Other Assets less Liabilities – (7.7)%

 

     (100,756,993
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,316,919,126  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $191,957,417 and the total market value of the collateral held by the Fund was $197,708,219. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $92,177,424.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES                                   

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. MidCap Dividend Fund

  $ 18,990,782     $ 23,216,224     $ 40,494,686     $ 1,623,269     $ (885,668   $ 2,449,921     $ 153,298  

 

See Notes to Financial Statements.

 

76   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.8%

 

Aerospace & Defense – 0.8%

 

AAR Corp.

     24,333      $ 432,154  

Aerovironment, Inc.*

     8,004        487,924  

Astronics Corp.*

     17,443        160,127  

Cubic Corp.

     10,625        438,919  

Ducommun, Inc.*

     7,280        180,908  

Kratos Defense & Security Solutions, Inc.*(a)

     11,720        162,205  

National Presto Industries, Inc.(a)

     4,549        322,114  

Park Aerospace Corp.

     3,378        42,563  

Triumph Group, Inc.

     61,459        415,463  

Vectrus, Inc.*

     10,218        423,127  

Virgin Galactic Holdings, Inc.*(a)

     13,202        195,125  
     

 

 

 
Total Aerospace & Defense

 

     3,260,629  
Air Freight & Logistics – 1.0%

 

Air Transport Services Group, Inc.*

     41,547        759,479  

Atlas Air Worldwide Holdings, Inc.*(a)

     34,752        892,084  

Echo Global Logistics, Inc.*

     14,687        250,854  

Forward Air Corp.

     18,155        919,551  

Hub Group, Inc. Class A*

     28,120        1,278,616  
     

 

 

 
Total Air Freight & Logistics

 

     4,100,584  
Airlines – 0.4%

 

Hawaiian Holdings, Inc.(a)

     117,181        1,223,370  

Mesa Air Group, Inc.*

     87,942        289,329  
     

 

 

 
Total Airlines

 

     1,512,699  
Auto Components – 1.1%

 

American Axle & Manufacturing Holdings, Inc.*

     255,123        920,994  

Cooper Tire & Rubber Co.

     48,131        784,535  

Cooper-Standard Holdings, Inc.*

     51,393        527,806  

Gentherm, Inc.*

     23,126        726,156  

Modine Manufacturing Co.*

     85,617        278,255  

Standard Motor Products, Inc.

     17,599        731,591  

Stoneridge, Inc.*(a)

     18,689        313,041  

Tenneco, Inc. Class A(a)

     132,246        476,086  
     

 

 

 
Total Auto Components

 

     4,758,464  
Automobiles – 0.2%

 

Winnebago Industries, Inc.

     31,416        873,679  
Banks – 16.0%

 

1st Source Corp.

     23,317        756,170  

Allegiance Bancshares, Inc.(a)

     19,494        470,000  

Amalgamated Bank Class A

     29,684        321,181  

Amerant Bancorp, Inc.*(a)

     30,721        472,796  

American National Bankshares, Inc.

     9,500        227,050  

Arrow Financial Corp.

     12,297        342,717  

Atlantic Capital Bancshares, Inc.*

     20,285        240,783  

Banc of California, Inc.

     6,757        54,056  

BancFirst Corp.

     28,142        939,099  

Bancorp, Inc. (The)*

     15,836        96,125  

Bank First Corp.(a)

     4,647        260,232  

Bank of Marin Bancorp

     9,537        286,110  

BankFinancial Corp.

     14,481        127,578  

Banner Corp.

     35,601      1,176,257  

Baycom Corp.*(a)

     9,663        116,439  

BCB Bancorp, Inc.

     20,845        221,999  

Berkshire Hills Bancorp, Inc.

     45,283        672,905  

Boston Private Financial Holdings, Inc.

     87,663        626,790  

Bridge Bancorp, Inc.

     22,486        475,804  

Brookline Bancorp, Inc.

     68,505        772,736  

Bryn Mawr Bank Corp.

     18,636        528,890  

Byline Bancorp, Inc.

     42,044        435,996  

Cadence BanCorp

     161,300        1,056,515  

Cambridge Bancorp(a)

     4,155        216,060  

Camden National Corp.

     13,234        416,209  

Capital City Bank Group, Inc.

     12,767        256,872  

Capstar Financial Holdings, Inc.

     20,830        206,009  

Carolina Financial Corp.

     21,055        544,693  

Carter Bank & Trust

     16,914        155,271  

CBTX, Inc.

     23,827        423,406  

Central Pacific Financial Corp.

     26,157        415,896  

Central Valley Community Bancorp

     14,058        183,316  

Century Bancorp, Inc. Class A

     4,658        289,914  

City Holding Co.

     14,558        968,544  

Civista Bancshares, Inc.

     17,763        265,734  

CNB Financial Corp.

     14,673        276,880  

Coastal Financial Corp.*

     10,249        107,717  

Codorus Valley Bancorp, Inc.

     11,857        190,898  

Community Trust Bancorp, Inc.

     16,349        519,735  

ConnectOne Bancorp, Inc.

     41,499        557,747  

Customers Bancorp, Inc.*(a)

     27,546        301,078  

Dime Community Bancshares, Inc.

     26,218        359,449  

Eagle Bancorp, Inc.

     40,286        1,217,040  

Enterprise Bancorp, Inc.

     13,296        358,859  

Enterprise Financial Services Corp.

     28,425        793,342  

Equity Bancshares, Inc. Class A*

     11,887        205,051  

Farmers National Banc Corp.

     29,035        337,677  

FB Financial Corp.

     26,997        532,381  

Financial Institutions, Inc.

     17,044        309,178  

First Bancorp

     29,559        682,222  

First Bancorp, Inc.

     11,240        247,280  

First Bancshares, Inc. (The)

     14,315        272,987  

First Busey Corp.

     47,399        810,997  

First Business Financial Services, Inc.

     11,231        174,080  

First Capital, Inc.

     1,695        101,530  

First Choice Bancorp

     16,050        240,910  

First Commonwealth Financial Corp.

     93,132        851,226  

First Community Bankshares, Inc.

     16,925        394,352  

First Financial Corp.

     13,223        445,880  

First Foundation, Inc.

     43,316        442,690  

First Internet Bancorp

     12,903        211,867  

First Interstate BancSystem, Inc. Class A

     57,959        1,671,538  

First Merchants Corp.

     46,524        1,232,421  

First Mid Bancshares, Inc.

     17,334        411,509  

First of Long Island Corp. (The)

     20,574        356,959  

First United Corp.

     6,686        95,543  

Flushing Financial Corp.

     24,899        332,651  

 

See Notes to Financial Statements.

 

WisdomTree Trust      77  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  

Franklin Financial Network, Inc.

     8,190      $ 166,994  

FVCBankcorp, Inc.*(a)

     11,543        153,753  

German American Bancorp, Inc.

     19,320        530,334  

Great Southern Bancorp, Inc.

     14,664        592,426  

Great Western Bancorp, Inc.

     59,991        1,228,616  

Guaranty Bancshares, Inc.

     9,942        230,058  

Hanmi Financial Corp.

     28,911        313,684  

HarborOne Bancorp, Inc.*

     17,765        133,770  

Heartland Financial USA, Inc.

     38,324        1,157,385  

Heritage Commerce Corp.

     51,714        396,646  

Heritage Financial Corp.

     32,751        655,020  

Hilltop Holdings, Inc.

     104,080        1,573,690  

HomeTrust Bancshares, Inc.

     14,082        224,185  

Hope Bancorp, Inc.

     150,093        1,233,764  

Horizon Bancorp, Inc.

     41,741        411,566  

Howard Bancorp, Inc.*

     9,101        98,837  

Independent Bank Corp.

     25,455        327,606  

Investar Holding Corp.

     9,129        116,577  

Lakeland Bancorp, Inc.

     53,584        579,243  

Lakeland Financial Corp.

     22,314        820,039  

Live Oak Bancshares, Inc.

     18,016        224,660  

Macatawa Bank Corp.

     34,426        245,113  

Mercantile Bank Corp.

     16,367        346,489  

Metropolitan Bank Holding Corp.*

     7,811        210,350  

Midland States Bancorp, Inc.

     30,014        524,945  

MidWestOne Financial Group, Inc.

     13,949        292,092  

MutualFirst Financial, Inc.

     7,173        202,279  

National Bank Holdings Corp. Class A

     25,441        608,040  

National Bankshares, Inc.

     5,078        161,988  

NBT Bancorp, Inc.

     36,806        1,192,146  

Nicolet Bankshares, Inc.*(a)

     9,518        519,492  

Northeast Bank *

     7,199        83,940  

Northrim BanCorp, Inc.

     7,407        199,989  

Old Second Bancorp, Inc.

     41,967        289,992  

Opus Bank

     11,613        201,253  

Origin Bancorp, Inc.

     19,859        402,145  

Orrstown Financial Services, Inc.

     14,670        202,006  

Pacific Premier Bancorp, Inc.

     61,670        1,161,863  

Parke Bancorp, Inc.

     16,983        229,101  

PCB Bancorp

     21,812        213,321  

Peapack Gladstone Financial Corp.

     19,026        341,517  

People’s Utah Bancorp

     19,205        372,001  

Peoples Bancorp, Inc.

     15,168        335,971  

Peoples Financial Services Corp.

     7,187        285,611  

Preferred Bank

     17,426        589,347  

Premier Financial Bancorp, Inc.

     16,822        208,593  

QCR Holdings, Inc.

     16,549        447,981  

RBB Bancorp

     26,448        362,867  

Reliant Bancorp, Inc.(a)

     10,432        117,569  

Renasant Corp.

     62,381        1,362,401  

Republic Bancorp, Inc. Class A

     21,240        701,557  

Republic First Bancorp, Inc.*

     87        191  

S&T Bancorp, Inc.

     32,588        890,304  

Sandy Spring Bancorp, Inc.(a)

     40,700        921,448  

SB One Bancorp

     11,044      187,748  

Seacoast Banking Corp. of Florida*(a)

     36,940        676,371  

ServisFirst Bancshares, Inc.

     49,261        1,444,333  

Sierra Bancorp

     16,340        287,257  

SmartFinancial, Inc.

     14,871        226,188  

Southern First Bancshares, Inc.*

     7,672        217,655  

Southern National Bancorp of Virginia, Inc.

     26,683        262,561  

Southside Bancshares, Inc.(a)

     26,521        805,973  

Spirit of Texas Bancshares, Inc.*

     9,836        101,704  

Stock Yards Bancorp, Inc.

     18,056        522,360  

Summit Financial Group, Inc.

     14,618        310,048  

Towne Bank

     64,711        1,170,622  

TriCo Bancshares

     30,351        905,067  

TriState Capital Holdings, Inc.*

     15,013        145,176  

Triumph Bancorp, Inc.*

     19,568        508,768  

Trustmark Corp.

     54,676        1,273,951  

Univest Financial Corp.

     32,600        532,032  

Veritex Holdings, Inc.

     34,224        478,109  

Washington Trust Bancorp, Inc.

     17,013        621,995  

West Bancorporation, Inc.

     13,596        222,295  

Westamerica Bancorporation(a)

     14,905        876,116  
     

 

 

 
Total Banks

 

     67,232,910  
Beverages – 0.2%

 

Celsius Holdings, Inc.*(a)

     31,108        130,965  

Coca-Cola Consolidated, Inc.

     2,980        621,419  

MGP Ingredients, Inc.

     10,791        290,170  
     

 

 

 
Total Beverages

 

     1,042,554  
Biotechnology – 0.9%

 

Anika Therapeutics, Inc.*(a)

     7,876        227,695  

BioSpecifics Technologies Corp.*

     5,390        304,912  

Catalyst Pharmaceuticals, Inc.*(a)

     28,763        110,737  

Eagle Pharmaceuticals, Inc.*

     6,017        276,782  

Enanta Pharmaceuticals, Inc.*(a)

     10,630        546,701  

Jounce Therapeutics, Inc.*(a)

     118,225        561,569  

Lexicon Pharmaceuticals, Inc.*(a)

     523,845        1,021,498  

Vanda Pharmaceuticals, Inc.*

     23,194        240,290  

Xencor, Inc.*(a)

     13,231        395,342  
     

 

 

 
Total Biotechnology

 

     3,685,526  
Building Products – 1.1%

 

American Woodmark Corp.*(a)

     11,349        517,174  

Apogee Enterprises, Inc.

     14,861        309,406  

Cornerstone Building Brands, Inc.*

     90,144        411,057  

CSW Industrials, Inc.

     8,320        539,552  

Gibraltar Industries, Inc.*

     16,947        727,365  

Griffon Corp.

     31,215        394,870  

Insteel Industries, Inc.

     2,914        38,610  

Patrick Industries, Inc.

     26,243        739,003  

PGT Innovations, Inc.*

     46,983        394,187  

Quanex Building Products Corp.

     15,967        160,947  

Resideo Technologies, Inc.*

     73,028        353,456  
     

 

 

 
Total Building Products

 

     4,585,627  

 

See Notes to Financial Statements.

 

78   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  
Capital Markets – 3.0%

 

Artisan Partners Asset Management, Inc. Class A

     55,199      $ 1,186,226  

B. Riley Financial, Inc.

     25,960        478,183  

Blucora, Inc.*

     21,295        256,605  

BrightSphere Investment Group

     231,432        1,478,850  

Cowen, Inc.

     22,517        217,514  

Diamond Hill Investment Group, Inc.

     4,291        387,220  

Donnelley Financial Solutions, Inc.*

     25,790        135,913  

Focus Financial Partners, Inc. Class A*(a)

     4,073        93,720  

Hamilton Lane, Inc. Class A

     7,819        432,469  

Houlihan Lokey, Inc.

     44,624        2,325,803  

INTL FCStone, Inc.*

     18,810        682,051  

Moelis & Co. Class A

     34,387        966,275  

Oppenheimer Holdings, Inc. Class A

     17,673        349,218  

Piper Sandler Cos.

     12,458        630,001  

PJT Partners, Inc. Class A

     6,109        265,069  

Pzena Investment Management, Inc. Class A

     19,946        88,959  

Safeguard Scientifics, Inc.

     42,427        235,470  

Sutter Rock Capital Corp.(a)

     13,474        78,958  

Victory Capital Holdings, Inc. Class A(a)

     59,352        970,999  

Virtus Investment Partners, Inc.

     5,879        447,451  

Waddell & Reed Financial, Inc. Class A

     93,107        1,059,558  

Westwood Holdings Group, Inc.

     3,463        63,407  
     

 

 

 
Total Capital Markets

 

     12,829,919  
Chemicals – 2.3%

 

Advanced Emissions Solutions, Inc.(a)

     44,512        292,444  

AdvanSix, Inc.*

     46,687        445,394  

American Vanguard Corp.

     13,813        199,736  

Ferro Corp.*(a)

     73,309        686,172  

FutureFuel Corp.

     13,755        155,019  

GCP Applied Technologies, Inc.*

     35,027        623,481  

Hawkins, Inc.

     8,649        307,904  

Intrepid Potash, Inc.*

     113,961        91,169  

Koppers Holdings, Inc.*

     18,408        227,707  

Kraton Corp.*

     18,591        150,587  

Kronos Worldwide, Inc.

     120,162        1,014,167  

Livent Corp.*(a)

     208,296        1,093,554  

Minerals Technologies, Inc.

     38,143        1,383,065  

OMNOVA Solutions, Inc.*

     17,668        179,154  

PQ Group Holdings, Inc.*

     71,392        778,173  

Stepan Co.

     15,490        1,370,245  

Trecora Resources*

     4,145        24,663  

Tredegar Corp.

     37,177        581,076  
     

 

 

 
Total Chemicals

 

     9,603,710  
Commercial Services & Supplies – 3.0%

 

ACCO Brands Corp.

     158,514        800,496  

BrightView Holdings, Inc.*(a)

     38,642        427,381  

Casella Waste Systems, Inc. Class A*

     10,440        407,786  

CECO Environmental Corp.*

     17,869        83,448  

Deluxe Corp.

     54,550        1,414,481  

Ennis, Inc.

     23,786        446,701  

Harsco Corp.*(a)

     45,418        316,563  

Healthcare Services Group, Inc.(a)

     40,145        959,867  

Heritage-Crystal Clean, Inc.*

     6,857      111,358  

HNI Corp.

     37,183        936,640  

Interface, Inc.

     61,819        467,352  

Kimball International, Inc. Class B

     29,588        352,393  

Knoll, Inc.

     43,307        446,928  

Matthews International Corp. Class A

     23,179        560,700  

McGrath RentCorp

     17,293        905,807  

Mobile Mini, Inc.

     24,903        653,206  

PICO Holdings, Inc.*

     6,449        50,173  

Pitney Bowes, Inc.(a)

     425,087        867,177  

RR Donnelley & Sons Co.(a)

     272,604        261,291  

SP Plus Corp.*

     15,551        322,683  

Steelcase, Inc. Class A

     99,864        985,658  

U.S. Ecology, Inc.

     12,812        389,485  

Viad Corp.

     10,498        222,873  

VSE Corp.

     11,900        195,041  
     

 

 

 
Total Commercial Services & Supplies

 

     12,585,488  
Communications Equipment – 0.2%

 

Comtech Telecommunications Corp.

     10,680        141,937  

Digi International, Inc.*(a)

     7,784        74,259  

Harmonic, Inc.*(a)

     3,915        22,551  

InterDigital, Inc.

     1,471        65,651  

NETGEAR, Inc.*

     17,718        404,679  
     

 

 

 
Total Communications Equipment

 

     709,077  
Construction & Engineering – 1.8%

 

Aegion Corp.*

     14,849        266,243  

Ameresco, Inc. Class A*

     28,780        490,123  

Arcosa, Inc.

     39,253        1,559,914  

Comfort Systems USA, Inc.

     29,558        1,080,345  

Construction Partners, Inc. Class A*

     36,592        618,039  

Dycom Industries, Inc.*(a)

     16,435        421,558  

Great Lakes Dredge & Dock Corp.*

     63,811        529,631  

MYR Group, Inc.*

     12,636        330,937  

Northwest Pipe Co.*

     7,260        161,535  

NV5 Global, Inc.*(a)

     8,549        352,988  

Primoris Services Corp.

     56,350        895,965  

Sterling Construction Co., Inc.*

     40,670        386,365  

Tutor Perini Corp.*

     73,237        492,153  
     

 

 

 
Total Construction & Engineering

 

     7,585,796  
Construction Materials – 0.0%

 

U.S. Concrete, Inc.*(a)

     3,815        69,204  
Consumer Finance – 1.6%

 

Curo Group Holdings Corp.(a)

     96,437        511,116  

Elevate Credit, Inc.*

     89,677        93,264  

Encore Capital Group, Inc.*

     58,055        1,357,326  

Enova International, Inc.*

     55,783        808,296  

EZCORP, Inc. Class A*(a)

     59,676        248,849  

Green Dot Corp. Class A*

     55,664        1,413,309  

Nelnet, Inc. Class A

     23,410        1,063,048  

PRA Group, Inc.*

     23,652        655,633  

Regional Management Corp.*

     16,568        226,319  

World Acceptance Corp.*(a)

     7,114        388,496  
     

 

 

 
Total Consumer Finance

 

     6,765,656  

 

See Notes to Financial Statements.

 

WisdomTree Trust      79  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  
Containers & Packaging – 0.8%

 

Myers Industries, Inc.

     18,616      $ 200,122  

O-I Glass, Inc.

     429,031        3,050,411  

UFP Technologies, Inc.*

     5,271        200,772  
     

 

 

 
Total Containers & Packaging

 

     3,451,305  
Distributors – 0.3%

 

Core-Mark Holding Co., Inc.

     28,824        823,502  

Funko, Inc. Class A*(a)

     25,968        103,612  

Weyco Group, Inc.

     12,066        243,371  
     

 

 

 
Total Distributors

 

     1,170,485  
Diversified Consumer Services – 0.9%

 

Adtalem Global Education, Inc.*

     62,686        1,679,358  

American Public Education, Inc.*

     9,019        215,825  

Carriage Services, Inc.

     7,995        129,119  

Collectors Universe, Inc.

     6,450        101,072  

K12, Inc.*

     24,242        457,204  

Laureate Education, Inc. Class A*

     55,750        585,932  

Perdoceo Education Corp.*

     49,254        531,451  

Select Interior Concepts, Inc. Class A*

     2,520        5,216  
     

 

 

 
Total Diversified Consumer Services

 

     3,705,177  
Diversified Financial Services – 0.1%

 

Marlin Business Services Corp.

     13,949        155,810  

On Deck Capital, Inc.*

     117,644        181,172  
     

 

 

 
Total Diversified Financial Services

 

     336,982  
Diversified Telecommunication Services – 0.0%

 

ATN International, Inc.

     1,884        110,609  

IDT Corp. Class B*

     12,595        68,265  
     

 

 

 
Total Diversified Telecommunication Services

 

     178,874  
Electric Utilities – 0.3%

 

Genie Energy Ltd. Class B

     28,720        206,210  

Otter Tail Corp.

     21,061        936,372  

Spark Energy, Inc. Class A

     7,960        49,909  
     

 

 

 
Total Electric Utilities

 

     1,192,491  
Electrical Equipment – 0.9%

 

Allied Motion Technologies, Inc.

     4,738        112,291  

Atkore International Group, Inc.*

     47,034        991,006  

AZZ, Inc.

     17,228        484,451  

Encore Wire Corp.

     16,525        693,885  

Powell Industries, Inc.

     1,127        28,930  

Preformed Line Products Co.

     4,324        215,465  

Sunrun, Inc.*

     35,471        358,257  

Thermon Group Holdings, Inc.*

     12,770        192,444  

TPI Composites, Inc.*(a)

     4,077        60,258  

Vicor Corp.*(a)

     6,506        289,777  

Vivint Solar, Inc.*(a)

     114,692        501,204  
     

 

 

 
Total Electrical Equipment

 

     3,927,968  
Electronic Equipment, Instruments & Components – 2.8%

 

Badger Meter, Inc.

     10,233        548,489  

Bel Fuse, Inc. Class B

     5,849        56,969  

Benchmark Electronics, Inc.

     20,368        407,156  

CTS Corp.

     24,728        615,480  

ePlus, Inc.*

     10,022      627,578  

KEMET Corp.

     72,564        1,753,146  

Kimball Electronics, Inc.*

     25,655        280,153  

Knowles Corp.*

     38,598        516,441  

Luna Innovations, Inc.*

     3,677        22,614  

Methode Electronics, Inc.

     33,906        896,136  

MTS Systems Corp.

     13,629        306,652  

Napco Security Technologies, Inc.*(a)

     6,668        101,154  

nLight, Inc.*(a)

     460        4,825  

OSI Systems, Inc.*

     10,432        718,973  

PC Connection, Inc.

     22,419        923,887  

Plexus Corp.*

     20,456        1,116,079  

Sanmina Corp.*

     72,209        1,969,862  

ScanSource, Inc.*

     23,859        510,344  

TTM Technologies, Inc.*

     29,685        306,943  

Vishay Precision Group, Inc.*

     8,824        177,186  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     11,860,067  
Energy Equipment & Services – 0.9%

 

Apergy Corp.*

     38,573        221,795  

Archrock, Inc.

     135,553        509,679  

Cactus, Inc. Class A

     30,532        354,171  

DMC Global, Inc.

     14,932        343,585  

Dril-Quip, Inc.*

     1,268        38,674  

FTS International, Inc.*(a)

     343,586        76,620  

Helix Energy Solutions Group, Inc.*(a)

     60,070        98,515  

Liberty Oilfield Services, Inc. Class A

     99,979        268,944  

Matrix Service Co.*

     21,011        198,974  

Newpark Resources, Inc.*

     55,357        49,655  

ProPetro Holding Corp.*

     370,506        926,265  

RPC, Inc.(a)

     14,438        29,742  

SEACOR Holdings, Inc.*

     5,427        146,312  

Select Energy Services, Inc. Class A*(a)

     50,951        164,572  

Solaris Oilfield Infrastructure, Inc. Class A

     53,950        283,237  
     

 

 

 
Total Energy Equipment & Services

 

     3,710,740  
Entertainment – 0.2%

 

Marcus Corp. (The)

     19,989        246,265  

Reading International, Inc. Class A*(a)

     6,880        26,763  

Sciplay Corp. Class A*(a)

     51,756        492,976  
     

 

 

 
Total Entertainment

 

     766,004  
Equity Real Estate Investment Trusts (REITs) – 3.3%

 

Alexander & Baldwin, Inc.

     79,870        896,141  

Alexander’s, Inc.

     2,556        705,328  

Armada Hoffler Properties, Inc.

     17,281        184,907  

CareTrust REIT, Inc.

     27,707        409,787  

CBL & Associates Properties, Inc.(a)

     462,939        92,634  

Chatham Lodging Trust

     20,082        119,287  

Community Healthcare Trust, Inc.

     2,468        94,475  

CoreCivic, Inc.

     174,764        1,952,114  

CorEnergy Infrastructure Trust, Inc.(a)

     4,923        90,485  

Diversified Healthcare Trust

     141,663        514,237  

Easterly Government Properties, Inc.

     982        24,196  

Essential Properties Realty Trust, Inc.

     19,640        256,498  

 

See Notes to Financial Statements.

 

80   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  

Farmland Partners, Inc.

     4,795      $ 29,106  

Four Corners Property Trust, Inc.

     39,899        746,510  

GEO Group, Inc. (The)

     161,202        1,960,216  

Getty Realty Corp.

     19,015        451,416  

Industrial Logistics Properties Trust

     42,146        739,241  

Innovative Industrial Properties, Inc.

     1,978        150,190  

Jernigan Capital, Inc.

     48,468        531,209  

Kite Realty Group Trust

     8,829        83,611  

LTC Properties, Inc.

     24,411        754,300  

Monmouth Real Estate Investment Corp.

     19,833        238,988  

One Liberty Properties, Inc.

     6,242        86,951  

Retail Opportunity Investments Corp.

     79,739        661,036  

Retail Value, Inc.

     34,169        418,570  

RPT Realty

     6,284        37,893  

Safehold, Inc.

     6,914        437,172  

Saul Centers, Inc.

     10,944        358,307  

Summit Hotel Properties, Inc.

     24,743        104,415  

Tanger Factory Outlet Centers, Inc.(a)

     76,050        380,250  

Universal Health Realty Income Trust

     1,767        178,131  

Urstadt Biddle Properties, Inc. Class A

     13,246        186,769  

Whitestone REIT

     17,615        109,213  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)

 

     13,983,583  
Food & Staples Retailing – 0.7%

 

Andersons, Inc. (The)

     13,265        248,719  

Chefs’ Warehouse, Inc. (The)*

     8,511        85,706  

Ingles Markets, Inc. Class A

     22,125        800,040  

Natural Grocers by Vitamin Cottage, Inc.

     14,218        120,995  

SpartanNash Co.

     34,883        499,525  

Village Super Market, Inc. Class A

     14,506        356,557  

Weis Markets, Inc.(a)

     20,709        862,737  
     

 

 

 
Total Food & Staples Retailing

 

     2,974,279  
Food Products – 0.8%

 

B&G Foods, Inc.(a)

     49,739        899,779  

Calavo Growers, Inc.

     5,773        333,044  

Hostess Brands, Inc.*

     55,945        596,374  

John B. Sanfilippo & Son, Inc.

     7,059        631,075  

Tootsie Roll Industries, Inc.

     24,415        877,964  
     

 

 

 
Total Food Products

 

     3,338,236  
Gas Utilities – 0.4%

 

Chesapeake Utilities Corp.

     9,102        780,133  

Northwest Natural Holding Co.

     14,471        893,584  
     

 

 

 
Total Gas Utilities

 

     1,673,717  
Health Care Equipment & Supplies – 0.8%

 

Atrion Corp.

     626        406,900  

BioLife Solutions, Inc.*(a)

     9,863        93,698  

CryoLife, Inc.*

     1,337        22,622  

FONAR Corp.*

     11,167        163,261  

Heska Corp.*(a)

     596        32,959  

Inogen, Inc.*

     6,209        320,757  

IntriCon Corp.*

     1,083        12,747  

iRadimed Corp.*(a)

     4,508        96,246  

Lantheus Holdings, Inc.*

     23,183        295,815  

LeMaitre Vascular, Inc.(a)

     7,959      198,338  

Meridian Bioscience, Inc.

     39,915        335,286  

Merit Medical Systems, Inc.*

     10,658        333,062  

Mesa Laboratories, Inc.

     684        154,646  

Natus Medical, Inc.*

     6,229        144,077  

OraSure Technologies, Inc.*

     11,907        128,119  

Orthofix Medical, Inc.*

     4,572        128,062  

STAAR Surgical Co.*(a)

     3,483        112,362  

Surmodics, Inc.*(a)

     443        14,761  

Tactile Systems Technology, Inc.*(a)

     1,445        58,031  

Utah Medical Products, Inc.

     2,193        206,252  

Varex Imaging Corp.*

     5,640        128,084  

Zynex, Inc.*(a)

     11,860        131,290  
     

 

 

 
Total Health Care Equipment & Supplies

 

     3,517,375  
Health Care Providers & Services – 1.2%

 

Addus HomeCare Corp.*

     3,243        219,227  

Apollo Medical Holdings, Inc.*(a)

     2,628        33,954  

BioTelemetry, Inc.*(a)

     18,023        694,066  

CorVel Corp.*

     7,973        434,608  

Five Star Senior Living, Inc.*(a)

     9,587        26,652  

Hanger, Inc.*(a)

     8,374        130,467  

Joint Corp. (The)*(a)

     1,329        14,420  

Magellan Health, Inc.*

     969        46,618  

MEDNAX, Inc.*

     110,182        1,282,518  

National Research Corp.

     7,073        321,680  

Patterson Cos., Inc.

     66,834        1,021,892  

PetIQ, Inc.*(a)

     685        15,912  

Providence Service Corp. (The)*

     4,452        244,326  

RadNet, Inc.*

     5,261        55,293  

Tivity Health, Inc.*(a)

     49,830        313,431  

U.S. Physical Therapy, Inc.(a)

     4,036        278,484  
     

 

 

 
Total Health Care Providers & Services

 

     5,133,548  
Health Care Technology – 1.0%

 

Allscripts Healthcare Solutions, Inc.*(a)

     26,214        184,547  

Change Healthcare, Inc.*

     330,460        3,301,295  

Computer Programs & Systems, Inc.

     7,626        169,679  

HealthStream, Inc.*

     5,017        120,157  

NextGen Healthcare, Inc.*

     18,342        191,490  

Simulations Plus, Inc.

     2,587        90,338  
     

 

 

 
Total Health Care Technology

 

     4,057,506  
Hotels, Restaurants & Leisure – 1.8%

 

BBX Capital Corp.

     69,223        159,905  

Biglari Holdings, Inc. Class B*(a)

     9,146        470,105  

BJ’s Restaurants, Inc.

     16,315        226,615  

Bloomin’ Brands, Inc.

     79,723        569,222  

Bluegreen Vacations Corp.

     57,612        332,997  

Brinker International, Inc.

     40,596        487,558  

Century Casinos, Inc.*

     2,843        6,852  

Cheesecake Factory, Inc. (The)(a)

     31,789        542,956  

Chuy’s Holdings, Inc.*

     6,035        60,773  

Dave & Buster’s Entertainment, Inc.

     39,615        518,164  

Del Taco Restaurants, Inc.*(a)

     30,644        105,109  

 

See Notes to Financial Statements.

 

WisdomTree Trust      81  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  

Denny’s Corp.*(a)

     74,491      $ 572,091  

Dine Brands Global, Inc.

     19,690        564,709  

El Pollo Loco Holdings, Inc.*(a)

     22,645        191,350  

Everi Holdings, Inc.*

     10,047        33,155  

Fiesta Restaurant Group, Inc.*

     18,296        73,733  

J Alexander’s Holdings, Inc.*

     16,244        62,215  

Jack in the Box, Inc.(a)

     17,216        603,421  

Lindblad Expeditions Holdings, Inc.*

     10,969        45,741  

Monarch Casino & Resort, Inc.*

     9,391        263,605  

Nathan’s Famous, Inc.

     4,196        255,956  

Noodles & Co.*(a)

     8,107        38,184  

RCI Hospitality Holdings, Inc.

     18,624        185,681  

Red Rock Resorts, Inc. Class A

     44,675        381,971  

Ruth’s Hospitality Group, Inc.

     24,357        162,705  

Shake Shack, Inc. Class A*

     4,287        161,791  

Target Hospitality Corp.*(a)

     20,635        41,064  

Twin River Worldwide Holdings, Inc.

     36,692        477,363  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     7,594,991  
Household Durables – 2.4%

 

Bassett Furniture Industries, Inc.

     4,162        22,683  

Beazer Homes USA, Inc.*

     37,316        240,315  

Cavco Industries, Inc.*

     4,868        705,568  

Century Communities, Inc.*(a)

     42,996        623,872  

Ethan Allen Interiors, Inc.

     31,070        317,535  

Green Brick Partners, Inc.*

     68,517        551,562  

Hamilton Beach Brands Holding Co. Class A

     9,329        88,719  

Hooker Furniture Corp.

     17,180        268,180  

Hovnanian Enterprises, Inc. Class A*(a)

     5,741        47,306  

Installed Building Products, Inc.*

     13,447        536,132  

iRobot Corp.*(a)

     23,947        979,432  

La-Z-Boy, Inc.

     42,451        872,368  

Legacy Housing Corp.*(a)

     22,176        205,128  

LGI Homes, Inc.*(a)

     28,845        1,302,352  

M/I Homes, Inc.*(a)

     40,684        672,506  

Skyline Champion Corp.*

     22,766        356,971  

Sonos, Inc.*

     8,319        70,545  

TRI Pointe Group, Inc.*

     174,045        1,526,375  

Tupperware Brands Corp.

     250,809        406,310  

Turtle Beach Corp.*(a)

     34,379        214,525  

Universal Electronics, Inc.*

     1,251        48,001  

ZAGG, Inc.*(a)

     8,960        27,866  
     

 

 

 
Total Household Durables

 

     10,084,251  
Household Products – 0.3%

 

Central Garden and Pet Co. Class A*

     50,203        1,283,691  
Industrial Conglomerates – 0.1%

 

Raven Industries, Inc.

     14,245        302,421  
Insurance – 3.1%

 

AMERISAFE, Inc.

     14,375        926,756  

Benefytt Technologies, Inc.*(a)

     8,594        192,420  

Crawford & Co. Class A

     57,221        411,991  

eHealth, Inc.*

     2,441        343,742  

Employers Holdings, Inc.

     39,333        1,593,380  

FBL Financial Group, Inc. Class A

     20,639      963,222  

Genworth Financial, Inc. Class A*

     464,986        1,543,753  

Goosehead Insurance, Inc. Class A(a)

     1,182        52,753  

Hallmark Financial Services, Inc.*

     14,888        60,148  

HCI Group, Inc.(a)

     2,798        112,619  

Heritage Insurance Holdings, Inc.

     20,408        218,570  

Horace Mann Educators Corp.

     44,512        1,628,694  

Investors Title Co.

     1,729        221,312  

Kinsale Capital Group, Inc.(a)

     6,152        643,069  

National Western Life Group, Inc. Class A

     5,518        949,096  

Palomar Holdings, Inc.*

     4,655        270,735  

ProAssurance Corp.

     7,635        190,875  

Safety Insurance Group, Inc.

     12,078        1,019,746  

State Auto Financial Corp.

     2,196        61,027  

Stewart Information Services Corp.

     29,547        788,018  

United Fire Group, Inc.

     1,468        47,871  

Universal Insurance Holdings, Inc.

     36,520        654,438  
     

 

 

 
Total Insurance

 

     12,894,235  
Interactive Media & Services – 0.2%

 

ANGI Homeservices, Inc. Class A*(a)

     73,781        387,350  

Cars.com, Inc.*

     2,791        12,001  

DHI Group, Inc.*

     60,872        131,484  

Liberty TripAdvisor Holdings, Inc. Class A*

     18,774        33,793  

Meet Group, Inc. (The)*

     28,831        169,238  

QuinStreet, Inc.*(a)

     12,240        98,532  

Travelzoo*

     7,990        31,401  
     

 

 

 
Total Interactive Media & Services

 

     863,799  
Internet & Direct Marketing Retail – 0.9%

 

1-800-Flowers.com, Inc. Class A*(a)

     35,873        474,600  

Duluth Holdings, Inc. Class B*(a)

     19,474        78,091  

Groupon, Inc.*(a)

     148,223        145,288  

Lands’ End, Inc.*

     8,482        45,294  

PetMed Express, Inc.(a)

     15,014        432,103  

Revolve Group, Inc.*

     24,350        210,384  

Shutterstock, Inc.

     9,117        293,203  

Stamps.com, Inc.*

     14,704        1,912,696  

Stitch Fix, Inc. Class A*(a)

     12,075        153,352  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     3,745,011  
IT Services – 2.1%

 

Cass Information Systems, Inc.

     7,708        271,013  

CSG Systems International, Inc.

     21,183        886,509  

Evo Payments, Inc. Class A*

     15,348        234,824  

GreenSky, Inc. Class A*(a)

     56,682        216,525  

Hackett Group, Inc. (The)

     23,820        302,990  

International Money Express, Inc.*

     20,329        185,604  

ManTech International Corp. Class A

     16,813        1,221,801  

NIC, Inc.

     31,921        734,183  

Paysign, Inc.*(a)

     6,533        33,710  

Perficient, Inc.*(a)

     10,733        290,757  

Switch, Inc. Class A

     19,902        287,186  

Sykes Enterprises, Inc.*

     25,726        697,689  

TTEC Holdings, Inc.

     29,558        1,085,370  

 

See Notes to Financial Statements.

 

82   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  

Unisys Corp.*

     150,797      $ 1,862,343  

Virtusa Corp.*

     14,042        398,793  
     

 

 

 
Total IT Services

 

     8,709,297  
Leisure Products – 1.1%

 

Acushnet Holdings Corp.

     55,692        1,432,398  

American Outdoor Brands Corp.*

     25,176        208,961  

Callaway Golf Co.

     52,250        533,995  

Clarus Corp.

     10,560        103,488  

Johnson Outdoors, Inc. Class A

     8,685        544,550  

Malibu Boats, Inc. Class A*

     25,085        722,197  

Marine Products Corp.

     24,851        200,796  

MasterCraft Boat Holdings, Inc.*

     42,103        307,352  

Sturm Ruger & Co., Inc.

     10,219        520,249  
     

 

 

 
Total Leisure Products

 

     4,573,986  
Machinery – 4.6%

 

Alamo Group, Inc.

     8,211        728,973  

Altra Industrial Motion Corp.

     40,629        710,601  

Astec Industries, Inc.

     2,881        100,749  

Blue Bird Corp.*(a)

     18,859        206,129  

Chart Industries, Inc.*

     10,859        314,694  

Columbus McKinnon Corp.

     22,950        573,750  

Commercial Vehicle Group, Inc.*

     73,673        111,246  

Douglas Dynamics, Inc.

     13,595        482,758  

Energy Recovery, Inc.*(a)

     21,225        157,914  

Enerpac Tool Group Corp.

     25,285        418,467  

EnPro Industries, Inc.

     13,680        541,454  

Evoqua Water Technologies Corp.*

     23,169        259,724  

Federal Signal Corp.

     47,259        1,289,226  

Gorman-Rupp Co. (The)

     12,834        400,549  

Graham Corp.

     1,733        22,356  

Greenbrier Cos., Inc. (The)(a)

     40,882        725,247  

Helios Technologies, Inc.

     18,993        720,215  

Hurco Cos., Inc.

     8,304        241,646  

Hyster-Yale Materials Handling, Inc.

     6,724        269,565  

Kadant, Inc.

     7,787        581,300  

L.B. Foster Co. Class A*

     13,953        172,459  

Lindsay Corp.(a)

     2,418        221,440  

Lydall, Inc.*

     16,181        104,529  

Manitowoc Co., Inc. (The)*

     50,241        427,049  

Mayville Engineering Co., Inc.*

     27,693        169,758  

Meritor, Inc.*(a)

     122,437        1,622,290  

Miller Industries, Inc.

     14,353        405,903  

Mueller Industries, Inc.

     44,207        1,058,316  

Mueller Water Products, Inc. Class A

     105,789        847,370  

Omega Flex, Inc.

     2,595        219,018  

Park-Ohio Holdings Corp.

     16,050        303,987  

REV Group, Inc.

     9,270        38,656  

Spartan Motors, Inc.

     13,977        180,443  

SPX Corp.*

     21,467        700,683  

SPX FLOW, Inc.*

     7,141        202,947  

Standex International Corp.

     9,008        441,572  

Tennant Co.

     6,891        399,333  

Terex Corp.

     101,422        1,456,420  

TriMas Corp.*

     32,780      757,218  

Twin Disc, Inc.*(a)

     1,593        11,119  

Wabash National Corp.

     83,252        601,079  
     

 

 

 
Total Machinery

 

     19,198,152  
Marine – 0.2%

 

Matson, Inc.(a)

     30,542        935,196  
Media – 2.5%

 

AMC Networks, Inc. Class A*(a)

     175,523        4,266,964  

Cumulus Media, Inc. Class A*

     83,307        451,524  

Emerald Holding, Inc.

     42,899        111,108  

Entercom Communications Corp. Class A

     406,489        695,096  

Entravision Communications Corp. Class A

     68,318        138,686  

EW Scripps Co. (The) Class A

     48,279        364,024  

Gray Television, Inc.*(a)

     70,665        758,942  

Loral Space & Communications, Inc.*

     18,470        300,137  

Meredith Corp.(a)

     54,868        670,487  

MSG Networks, Inc. Class A*(a)

     153,239        1,563,038  

National CineMedia, Inc.

     54,553        177,843  

Scholastic Corp.

     10,662        271,774  

TechTarget, Inc.*

     10,665        219,806  

Tribune Publishing Co.

     5,435        44,078  

WideOpenWest, Inc.*(a)

     105,546        502,399  
     

 

 

 
Total Media

 

     10,535,906  
Metals & Mining – 3.3%

 

Cleveland-Cliffs, Inc.

     1,003,571        3,964,105  

Compass Minerals International, Inc.

     13,570        522,038  

Haynes International, Inc.

     4,029        83,038  

Kaiser Aluminum Corp.

     11,558        800,738  

Materion Corp.

     12,705        444,802  

Olympic Steel, Inc.

     10,400        107,640  

Ryerson Holding Corp.*

     68,095        362,265  

Schnitzer Steel Industries, Inc. Class A

     37,921        494,490  

SunCoke Energy, Inc.

     85,281        328,332  

United States Steel Corp.(a)

     301,154        1,900,282  

Universal Stainless & Alloy Products, Inc.*

     356        2,745  

Warrior Met Coal, Inc.

     336,016        3,568,490  

Worthington Industries, Inc.

     43,738        1,148,122  
     

 

 

 
Total Metals & Mining

 

     13,727,087  
Multi-Utilities – 0.1%

 

Unitil Corp.

     8,366        437,709  
Multiline Retail – 0.4%

 

Big Lots, Inc.

     63,947        909,326  

Dillard’s, Inc. Class A(a)

     23,711        876,122  
     

 

 

 
Total Multiline Retail

 

     1,785,448  
Oil, Gas & Consumable Fuels – 4.5%

 

Arch Coal, Inc. Class A(a)

     63,438        1,833,358  

Berry Corp.

     293,043        706,234  

Bonanza Creek Energy, Inc.*(a)

     126,661        1,424,936  

Brigham Minerals, Inc. Class A

     3,937        32,559  

Callon Petroleum Co.*(a)

     621,480        340,509  

Centennial Resource Development, Inc. Class A*

     260,767        68,582  

Chesapeake Energy Corp.*(a)

     2,284,349        394,507  

 

See Notes to Financial Statements.

 

WisdomTree Trust      83  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  

CNX Resources Corp.*(a)

     440,389      $ 2,342,870  

Comstock Resources, Inc.*(a)

     172,677        930,729  

CONSOL Energy, Inc.*(a)

     117,087        432,051  

Earthstone Energy, Inc. Class A*(a)

     97,709        171,968  

EQT Corp.

     112,449        795,015  

Falcon Minerals Corp.

     106,332        228,614  

Gulfport Energy Corp.*(a)

     965,180        429,216  

Laredo Petroleum, Inc.*

     675,996        256,743  

Magnolia Oil & Gas Corp. Class A*(a)

     88,207        352,828  

Matador Resources Co.*

     149,432        370,591  

Montage Resources Corp.*(a)

     111,261        250,337  

NACCO Industries, Inc. Class A

     11,739        328,457  

Panhandle Oil and Gas, Inc. Class A

     7,267        26,815  

Par Pacific Holdings, Inc.*

     11,330        80,443  

PDC Energy, Inc.*(a)

     225,925        1,402,994  

Peabody Energy Corp.(a)

     435,542        1,263,072  

QEP Resources, Inc.

     80,992        27,092  

Range Resources Corp.

     1,134,831        2,587,415  

SM Energy Co.

     274,274        334,614  

Talos Energy, Inc.*(a)

     105,741        608,011  

VAALCO Energy, Inc.*

     138,864        125,255  

W&T Offshore, Inc.*(a)

     331,982        564,369  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     18,710,184  
Paper & Forest Products – 1.0%

 

Boise Cascade Co.

     12,487        296,941  

Clearwater Paper Corp.*

     4,658        101,591  

Domtar Corp.

     96,122        2,080,080  

Neenah, Inc.

     9,851        424,874  

PH Glatfelter Co.

     24,464        298,950  

Schweitzer-Mauduit International, Inc.

     21,383        594,875  

Verso Corp. Class A*

     30,675        346,014  
     

 

 

 
Total Paper & Forest Products

 

     4,143,325  
Personal Products – 1.4%

 

Edgewell Personal Care Co.*

     82,161        1,978,437  

elf Beauty, Inc.*(a)

     10,974        107,984  

Inter Parfums, Inc.

     11,501        533,071  

Lifevantage Corp.*

     7,983        82,225  

Medifast, Inc.

     11,196        699,750  

Nu Skin Enterprises, Inc. Class A

     71,909        1,571,212  

USANA Health Sciences, Inc.*

     19,290        1,114,190  
     

 

 

 
Total Personal Products

 

     6,086,869  
Pharmaceuticals – 2.5%

 

Amneal Pharmaceuticals, Inc.*(a)

     637,968        2,220,129  

Amphastar Pharmaceuticals, Inc.*

     6,182        91,741  

ANI Pharmaceuticals, Inc.*

     3,422        139,412  

Corcept Therapeutics, Inc.*(a)

     86,544        1,029,008  

Harrow Health, Inc.*(a)

     34,017        129,945  

Innoviva, Inc.*

     216,844        2,550,085  

Lannett Co., Inc.*(a)

     21,085        146,541  

Pacira BioSciences, Inc.*(a)

     5,064        169,796  

Phibro Animal Health Corp. Class A

     26,358        637,073  

Prestige Consumer Healthcare, Inc.*

     53,359        1,957,208  

Supernus Pharmaceuticals, Inc.*

     70,720      1,272,253  
     

 

 

 
Total Pharmaceuticals

 

     10,343,191  
Professional Services – 1.5%

 

Barrett Business Services, Inc.

     6,520        258,453  

BG Staffing, Inc.

     9,174        68,621  

CBIZ, Inc.*

     34,262        716,761  

CRA International, Inc.

     5,621        187,798  

Forrester Research, Inc.*

     2,122        62,026  

GP Strategies Corp.*

     6,615        43,064  

Heidrick & Struggles International, Inc.

     22,372        503,370  

Huron Consulting Group, Inc.*

     6,562        297,652  

ICF International, Inc.

     10,478        719,838  

Kelly Services, Inc. Class A

     52,575        667,177  

Kforce, Inc.

     19,896        508,741  

Korn Ferry

     61,525        1,496,288  

Mistras Group, Inc.*

     11,740        50,012  

Resources Connection, Inc.

     26,468        290,354  

TrueBlue, Inc.*

     33,187        423,466  

Willdan Group, Inc.*(a)

     1,843        39,385  
     

 

 

 
Total Professional Services

 

     6,333,006  
Real Estate Management & Development – 0.6%

 

Forestar Group, Inc.*(a)

     15,527        160,704  

Marcus & Millichap, Inc.*(a)

     31,541        854,761  

Newmark Group, Inc. Class A

     62,781        266,819  

RE/MAX Holdings, Inc. Class A

     11,352        248,836  

Realogy Holdings Corp.

     90,963        273,799  

RMR Group, Inc. (The) Class A

     22,939        618,665  

St. Joe Co. (The)*(a)

     1,623        27,234  
     

 

 

 
Total Real Estate Management & Development

 

     2,450,818  
Road & Rail – 1.8%

 

ArcBest Corp.

     44,275        775,698  

Avis Budget Group, Inc.*(a)

     114,035        1,585,087  

Covenant Transportation Group, Inc. Class A*

     27,778        240,835  

Heartland Express, Inc.

     36,429        676,487  

Hertz Global Holdings, Inc.*(a)

     24,086        148,852  

Marten Transport Ltd.

     34,335        704,554  

Schneider National, Inc. Class B

     148,357        2,869,224  

Universal Logistics Holdings, Inc.

     28,953        379,284  

US Xpress Enterprises, Inc. Class A*(a)

     39,288        131,222  
     

 

 

 
Total Road & Rail

 

     7,511,243  
Semiconductors & Semiconductor Equipment – 0.5%

 

ACM Research, Inc. Class A*(a)

     13,208        391,089  

Axcelis Technologies, Inc.*

     12,447        227,905  

Ceva, Inc.*

     677        16,878  

CyberOptics Corp.*

     404        6,912  

FormFactor, Inc.*

     21,101        423,919  

NVE Corp.

     3,015        156,870  

Onto Innovation, Inc.*

     10,019        297,264  

Photronics, Inc.*

     16,648        170,808  

Ultra Clean Holdings, Inc.*

     17,135        236,463  

Xperi Corp.

     13,855        192,723  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     2,120,831  

 

See Notes to Financial Statements.

 

84   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  
Software – 0.7%

 

Alarm.com Holdings, Inc.*(a)

     15,796      $ 614,622  

Altair Engineering, Inc. Class A*(a)

     2,794        74,041  

American Software, Inc. Class A

     8,961        127,336  

Appfolio, Inc. Class A*(a)

     697        77,332  

Bottomline Technologies DE, Inc.*

     2,124        77,845  

Ebix, Inc.(a)

     51,043        774,833  

eGain Corp.*

     10,583        77,573  

Ideanomics, Inc.*(a)

     65,040        87,153  

OneSpan, Inc.*(a)

     8,660        157,179  

Progress Software Corp.

     19,788        633,216  

QAD, Inc. Class A

     501        20,005  

ShotSpotter, Inc.*(a)

     1,008        27,700  

Smith Micro Software, Inc.*

     20,465        86,158  

SPS Commerce, Inc.*

     7,290        339,058  
     

 

 

 
Total Software

 

     3,174,051  
Specialty Retail – 4.1%

 

Abercrombie & Fitch Co. Class A

     80,127        728,354  

America’s Car-Mart, Inc.*(a)

     6,898        388,702  

Asbury Automotive Group, Inc.*

     20,743        1,145,636  

At Home Group, Inc.*(a)

     175,359        354,225  

Bed Bath & Beyond, Inc.(a)

     13,387        56,359  

Boot Barn Holdings, Inc.*(a)

     15,276        197,519  

Buckle, Inc. (The)

     44,974        616,594  

Caleres, Inc.

     47,521        247,109  

Cato Corp. (The) Class A

     24,867        265,331  

Children’s Place, Inc. (The)(a)

     17,833        348,813  

Citi Trends, Inc.

     10,324        91,884  

Conn’s, Inc.*(a)

     98,885        413,339  

Container Store Group, Inc. (The)*(a)

     68,815        162,403  

Designer Brands, Inc. Class A

     73,290        364,984  

Express, Inc.*

     12,767        19,023  

GameStop Corp. Class A(a)

     245,719        860,017  

Genesco, Inc.*(a)

     19,522        260,423  

GNC Holdings, Inc. Class A*(a)

     80,558        37,709  

Group 1 Automotive, Inc.

     22,357        989,521  

Guess?, Inc.

     52,380        354,613  

Haverty Furniture Cos., Inc.

     15,413        183,261  

Hibbett Sports, Inc.*

     15,140        165,556  

MarineMax, Inc.*(a)

     32,167        335,180  

Michaels Cos., Inc. (The)*(a)

     784,851        1,271,459  

Office Depot, Inc.

     1,036,592        1,700,011  

Party City Holdco, Inc.*(a)

     441,549        202,362  

Rent-A-Center, Inc.

     52,369        740,498  

Sally Beauty Holdings, Inc.*(a)

     194,462        1,571,253  

Shoe Carnival, Inc.

     14,348        298,008  

Sleep Number Corp.*

     22,914        439,032  

Sonic Automotive, Inc. Class A(a)

     52,293        694,451  

Sportsman’s Warehouse Holdings, Inc.*

     41,735        257,088  

Tailored Brands, Inc.(a)

     294,054        511,654  

Tilly’s, Inc. Class A

     24,015        99,182  

Winmark Corp.

     2,263        288,351  

Zumiez, Inc.*(a)

     22,285        385,976  
     

 

 

 
Total Specialty Retail

 

     17,045,880  
Technology Hardware, Storage & Peripherals – 0.0%

 

AstroNova, Inc.

     6,667      51,736  
Textiles, Apparel & Luxury Goods – 1.5%

 

Culp, Inc.

     6,319        46,508  

Fossil Group, Inc.*(a)

     61,279        201,608  

G-III Apparel Group Ltd.*

     59,446        457,734  

Kontoor Brands, Inc.(a)

     43,204        828,221  

Levi Strauss & Co. Class A(a)

     294,352        3,658,795  

Movado Group, Inc.

     29,925        353,713  

Oxford Industries, Inc.

     13,205        478,813  

Rocky Brands, Inc.

     7,982        154,452  

Unifi, Inc.*

     5,525        63,814  

Vera Bradley, Inc.*

     19,363        79,776  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     6,323,434  
Thrifts & Mortgage Finance – 3.8%

 

Axos Financial, Inc.*

     68,587        1,243,482  

Bridgewater Bancshares, Inc.*

     32,185        313,804  

Capitol Federal Financial, Inc.

     80,470        934,257  

Columbia Financial, Inc.*(a)

     42,936        618,278  

Federal Agricultural Mortgage Corp. Class C

     13,116        729,643  

First Defiance Financial Corp.

     36,827        542,830  

Flagstar Bancorp, Inc.

     72,266        1,433,035  

FS Bancorp, Inc.

     5,777        207,972  

Hingham Institution for Savings

     2,282        330,867  

Home Bancorp, Inc.

     9,007        219,951  

HomeStreet, Inc.

     16,168        359,415  

Kearny Financial Corp.

     38,691        332,356  

Luther Burbank Corp.

     42,501        389,734  

Merchants Bancorp

     44,886        681,370  

Meridian Bancorp, Inc.

     37,873        424,935  

Meta Financial Group, Inc.

     39,336        854,378  

Northfield Bancorp, Inc.

     28,411        317,919  

Northwest Bancshares, Inc.

     88,078        1,019,062  

OceanFirst Financial Corp.

     55,220        878,550  

PCSB Financial Corp.

     5,653        79,085  

Provident Financial Services, Inc.

     63,323        814,334  

Riverview Bancorp, Inc.

     30,028        150,440  

Southern Missouri Bancorp, Inc.

     10,456        253,767  

Sterling Bancorp, Inc.

     110,133        473,572  

Territorial Bancorp, Inc.

     9,106        223,552  

TrustCo Bank Corp.

     80,833        437,307  

Walker & Dunlop, Inc.

     34,618        1,394,067  

Waterstone Financial, Inc.

     21,750        316,245  
     

 

 

 
Total Thrifts & Mortgage Finance

 

     15,974,207  
Tobacco – 0.6%

 

Turning Point Brands, Inc.

     16,546        349,286  

Universal Corp.

     28,240        1,248,490  

Vector Group Ltd.

     81,402        766,807  
     

 

 

 
Total Tobacco

 

     2,364,583  
Trading Companies & Distributors – 2.2%

 

Beacon Roofing Supply, Inc.*

     51,028        844,003  

BMC Stock Holdings, Inc.*

     57,598        1,021,213  

 

See Notes to Financial Statements.

 

WisdomTree Trust      85  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2020

 

 

 

Investments    Shares      Value  

CAI International, Inc.*

     24,729      $ 349,668  

DXP Enterprises, Inc.*

     15,989        196,025  

Foundation Building Materials, Inc.*

     25,057        257,837  

GMS, Inc.*

     38,607        607,288  

H&E Equipment Services, Inc.

     37,410        549,179  

Herc Holdings, Inc.*

     10,589        216,651  

Kaman Corp.

     11,825        454,908  

MRC Global, Inc.*

     43,189        183,985  

NOW, Inc.*(a)

     83,953        433,197  

Rush Enterprises, Inc. Class A

     45,979        1,467,650  

Systemax, Inc.

     23,176        410,910  

Titan Machinery, Inc.*

     13,609        118,262  

Transcat, Inc.*

     4,584        121,476  

WESCO International, Inc.*

     68,739        1,570,686  

Willis Lease Finance Corp.*

     16,211        431,213  
     

 

 

 
Total Trading Companies & Distributors

 

     9,234,151  
Water Utilities – 0.3%

 

Artesian Resources Corp. Class A

     5,608        209,627  

Middlesex Water Co.

     4,249        255,450  

Pure Cycle Corp.*

     3,903        43,518  

SJW Group

     9,218        532,524  

York Water Co. (The)

     3,527        153,284  
     

 

 

 
Total Water Utilities

 

     1,194,403  
Wireless Telecommunication Services – 0.7%

 

NII Holdings, Inc.*

     81,466      $ 177,189  

Shenandoah Telecommunications Co.

     23,103        1,137,823  

United States Cellular Corp.*(a)

     55,252        1,618,331  
     

 

 

 
Total Wireless Telecommunication Services

 

     2,933,343  

TOTAL COMMON STOCKS

(Cost: $679,956,722)

 

 

     418,846,294  
EXCHANGE-TRADED FUND – 0.0%

 

United States – 0.0%

 

WisdomTree U.S. MidCap Fund(a)(b)
(Cost: $231,390)
     6,258        165,336  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 6.1%

 

United States – 6.1%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(c)

 

  
(Cost: $25,526,651)      25,526,651        25,526,651  

TOTAL INVESTMENTS IN SECURITIES – 105.9%

(Cost: $705,714,763)

 

 

     444,538,281  

Other Assets less Liabilities – (5.9)%

 

     (24,862,094
     

 

 

 
NET ASSETS – 100.0%

 

   $ 419,676,187  

 

* 

Non-income producing security.

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $177,189, which represents 0.04% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $60,228,165 and the total market value of the collateral held by the Fund was $62,236,536. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $36,709,885.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES                                   

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. MidCap Fund

  $ 1,433,943     $ 8,001,126     $ 9,035,016     $ (170,862   $ (63,855   $ 165,336     $ 38,915  

 

See Notes to Financial Statements.

 

86   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%      
United States – 99.1%      
Aerospace & Defense – 0.5%      

Moog, Inc. Class A

     4,406      $ 222,635  

National Presto Industries, Inc.(a)

     994        70,385  

Park Aerospace Corp.

     5,911        74,479  
     

 

 

 
Total Aerospace & Defense               367,499  
Air Freight & Logistics – 0.2%      

Forward Air Corp.

     3,555        180,061  
Airlines – 0.3%      

Hawaiian Holdings, Inc.

     9,022        94,189  

SkyWest, Inc.

     4,741        124,167  
     

 

 

 
Total Airlines               218,356  
Auto Components – 2.1%      

Cooper Tire & Rubber Co.

     11,908        194,100  

Dana, Inc.

     51,145        399,442  

LCI Industries

     10,456        698,775  

Standard Motor Products, Inc.

     6,454        268,293  
     

 

 

 
Total Auto Components               1,560,610  
Automobiles – 0.2%      

Winnebago Industries, Inc.

     5,012        139,384  
Banks – 4.9%      

Eagle Bancorp, Inc.

     10,327        311,979  

Enterprise Financial Services Corp.

     6,502        181,471  

FB Financial Corp.

     4,037        79,610  

First Interstate BancSystem, Inc. Class A

     21,123        609,187  

Home BancShares, Inc.

     74,272        890,521  

Lakeland Financial Corp.

     10,414        382,715  

Live Oak Bancshares, Inc.

     4,145        51,688  

Parke Bancorp, Inc.

     3,509        47,336  

Plumas Bancorp

     1,188        21,978  

Preferred Bank

     5,057        171,028  

ServisFirst Bancshares, Inc.

     16,391        480,584  

Stock Yards Bancorp, Inc.

     9,594        277,555  

Unity Bancorp, Inc.

     2,399        28,068  

West Bancorporation, Inc.

     7,252        118,570  
     

 

 

 
Total Banks               3,652,290  
Beverages – 0.2%      

Coca-Cola Consolidated, Inc.

     435        90,711  

MGP Ingredients, Inc.

     2,382        64,052  
     

 

 

 
Total Beverages               154,763  
Building Products – 1.1%

 

AAON, Inc.

     4,074        196,856  

Apogee Enterprises, Inc.

     5,856        121,922  

CSW Industrials, Inc.

     1,293        83,851  

Griffon Corp.

     8,365        105,817  

Insteel Industries, Inc.

     1,181        15,648  

Quanex Building Products Corp.

     6,329        63,797  

Universal Forest Products, Inc.

     6,169        229,425  
     

 

 

 
Total Building Products               817,316  
Investments    Shares      Value  
Capital Markets - 8.8%      

BrightSphere Investment Group

     55,466      354,428  

Cohen & Steers, Inc.

     16,949        770,332  

Diamond Hill Investment Group, Inc.

     3,129        282,361  

Greenhill & Co., Inc.

     3,746        36,861  

Houlihan Lokey, Inc.

     17,954        935,762  

Moelis & Co. Class A

     52,218        1,467,326  

Pzena Investment Management, Inc. Class A

     3,847        17,157  

Silvercrest Asset Management Group, Inc. Class A

     4,813        45,531  

Victory Capital Holdings, Inc. Class A(a)

     2,416        39,526  

Virtu Financial, Inc. Class A

     114,453        2,382,911  

Virtus Investment Partners, Inc.

     2,563        195,070  
     

 

 

 
Total Capital Markets               6,527,265  
Chemicals – 9.5%      

Cabot Corp.

     27,780        725,614  

Chase Corp.

     1,104        90,848  

Chemours Co. (The)

     147,251        1,306,116  

FutureFuel Corp.

     14,661        165,230  

H.B. Fuller Co.

     10,474        292,539  

Innospec, Inc.

     4,184        290,746  

Kronos Worldwide, Inc.

     66,651        562,534  

Minerals Technologies, Inc.

     1,984        71,940  

Olin Corp.(a)

     122,918        1,434,453  

PolyOne Corp.

     33,089        627,698  

Quaker Chemical Corp.

     2,810        354,847  

Sensient Technologies Corp.

     17,079        743,107  

Stepan Co.

     4,159        367,905  
     

 

 

 
Total Chemicals               7,033,577  
Commercial Services & Supplies – 7.2%      

ABM Industries, Inc.

     15,866        386,496  

ACCO Brands Corp.

     31,607        159,615  

Brady Corp. Class A

     9,346        421,785  

Deluxe Corp.

     12,154        315,153  

Ennis, Inc.

     14,101        264,817  

Healthcare Services Group, Inc.(a)

     29,992        717,109  

Herman Miller, Inc.

     13,028        289,222  

HNI Corp.

     16,073        404,879  

Interface, Inc.

     10,567        79,886  

KAR Auction Services, Inc.

     55,973        671,676  

Kimball International, Inc. Class B

     8,194        97,591  

Knoll, Inc.

     15,589        160,878  

McGrath RentCorp

     6,048        316,794  

Mobile Mini, Inc.

     15,617        409,634  

Steelcase, Inc. Class A

     33,092        326,618  

U.S. Ecology, Inc.

     4,594        139,658  

UniFirst Corp.

     890        134,470  

Viad Corp.

     1,616        34,308  

VSE Corp.

     1,293        21,192  
     

 

 

 
Total Commercial Services & Supplies               5,351,781  
Communications Equipment – 0.8%      

InterDigital, Inc.

     13,393        597,730  

 

See Notes to Financial Statements.

 

WisdomTree Trust      87  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Construction & Engineering – 0.7%      

Comfort Systems USA, Inc.

     3,555      $ 129,935  

Primoris Services Corp.

     6,829        108,581  

Valmont Industries, Inc.

     2,676        283,603  
     

 

 

 
Total Construction & Engineering               522,119  
Construction Materials – 0.1%      

United States Lime & Minerals, Inc.

     605        44,679  
Consumer Finance – 1.7%      

Navient Corp.

     165,307        1,253,027  
Containers & Packaging – 1.2%      

Greif, Inc. Class A

     17,432        541,961  

O-I Glass, Inc.

     45,240        321,656  
     

 

 

 
Total Containers & Packaging               863,617  
Distributors – 0.1%      

Weyco Group, Inc.

     3,657        73,762  
Diversified Consumer Services – 1.6%      

Carriage Services, Inc.

     3,423        55,281  

Collectors Universe, Inc.

     4,198        65,783  

Graham Holdings Co. Class B

     616        210,161  

Strategic Education, Inc.

     5,896        824,025  
     

 

 

 
Total Diversified Consumer Services               1,155,250  
Diversified Financial Services – 0.1%      

Marlin Business Services Corp.

     4,016        44,859  
Electric Utilities – 3.4%      

El Paso Electric Co.

     15,350        1,043,186  

MGE Energy, Inc.

     10,381        679,644  

Otter Tail Corp.

     18,293        813,307  
     

 

 

 
Total Electric Utilities               2,536,137  
Electrical Equipment – 0.5%      

Allied Motion Technologies, Inc.

     361        8,556  

AZZ, Inc.

     4,932        138,688  

Encore Wire Corp.

     149        6,256  

EnerSys

     4,903        242,797  
     

 

 

 
Total Electrical Equipment               396,297  
Electronic Equipment, Instruments & Components – 1.6%

 

  

Badger Meter, Inc.

     5,139        275,450  

Benchmark Electronics, Inc.

     10,407        208,036  

CTS Corp.

     2,942        73,226  

KEMET Corp.

     7,068        170,763  

Methode Electronics, Inc.

     6,815        180,121  

MTS Systems Corp.

     8,191        184,298  

PC Connection, Inc.

     2,763        113,863  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     1,205,757  
Energy Equipment & Services – 0.1%      

Solaris Oilfield Infrastructure, Inc. Class A

     16,438        86,299  
Entertainment – 0.4%      

Marcus Corp. (The)

     7,559        93,127  

World Wrestling Entertainment, Inc. Class A(a)

     6,027        204,496  
     

 

 

 
Total Entertainment               297,623  
Equity Real Estate Investment Trusts (REITs) – 2.4%

 

  

CoreCivic, Inc.

     156,948      1,753,109  
Food & Staples Retailing – 0.5%      

Ingles Markets, Inc. Class A

     3,417        123,559  

PriceSmart, Inc.

     4,934        259,281  
     

 

 

 
Total Food & Staples Retailing               382,840  
Food Products – 0.7%      

Calavo Growers, Inc.

     3,659        211,088  

John B. Sanfilippo & Son, Inc.

     951        85,019  

Tootsie Roll Industries, Inc.

     6,787        244,063  
     

 

 

 
Total Food Products               540,170  
Gas Utilities – 0.6%      

Chesapeake Utilities Corp.

     4,681        401,209  

RGC Resources, Inc.

     1,899        54,938  
     

 

 

 
Total Gas Utilities               456,147  
Health Care Equipment & Supplies – 0.5%      

Atrion Corp.

     265        172,250  

LeMaitre Vascular, Inc.

     3,026        75,408  

Mesa Laboratories, Inc.

     187        42,279  

Utah Medical Products, Inc.

     729        68,562  
     

 

 

 
Total Health Care Equipment & Supplies               358,499  
Health Care Providers & Services – 2.4%      

Ensign Group, Inc. (The)

     3,887        146,190  

National Research Corp.

     5,244        238,497  

Patterson Cos., Inc.

     78,814        1,205,066  

U.S. Physical Therapy, Inc.

     2,181        150,489  
     

 

 

 
Total Health Care Providers & Services               1,740,242  
Health Care Technology – 0.1%      

Simulations Plus, Inc.

     2,178        76,056  
Hotels, Restaurants & Leisure – 1.3%      

BBX Capital Corp.

     14,297        33,026  

Cheesecake Factory, Inc. (The)(a)

     26,382        450,604  

Dave & Buster’s Entertainment, Inc.

     8,258        108,015  

Hyatt Hotels Corp. Class A

     5,462        261,630  

RCI Hospitality Holdings, Inc.

     153        1,525  

Ruth’s Hospitality Group, Inc.

     10,976        73,320  
     

 

 

 
Total Hotels, Restaurants & Leisure               928,120  
Household Durables – 1.9%      

Bassett Furniture Industries, Inc.

     4,954        26,999  

Hamilton Beach Brands Holding Co. Class A

     2,632        25,030  

Hooker Furniture Corp.

     5,024        78,425  

KB Home

     14,943        270,468  

La-Z-Boy, Inc.

     13,712        281,782  

MDC Holdings, Inc.

     31,511        731,055  
     

 

 

 
Total Household Durables               1,413,759  
Household Products – 0.8%      

WD-40 Co.

     2,826        567,602  
Industrial Conglomerates – 0.2%      

Raven Industries, Inc.

     6,701        142,262  

 

See Notes to Financial Statements.

 

88   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Insurance – 2.8%      

AMERISAFE, Inc.

     4,686      $ 302,106  

Crawford & Co. Class A

     10,809        77,825  

Employers Holdings, Inc.

     10,588        428,920  

Independence Holding Co.

     1,953        49,919  

Investors Title Co.

     322        41,216  

Kinsale Capital Group, Inc.(a)

     1,213        126,795  

Safety Insurance Group, Inc.

     9,546        805,969  

Universal Insurance Holdings, Inc.

     12,430        222,745  
     

 

 

 
Total Insurance               2,055,495  
Internet & Direct Marketing Retail – 0.6%      

PetMed Express, Inc.(a)

     15,424        443,903  
IT Services – 2.7%      

Cass Information Systems, Inc.

     4,534        159,415  

CSG Systems International, Inc.

     8,794        368,029  

Hackett Group, Inc. (The)

     11,206        142,540  

ManTech International Corp. Class A

     6,141        446,267  

NIC, Inc.

     16,109        370,507  

TTEC Holdings, Inc.

     13,553        497,666  
     

 

 

 
Total IT Services               1,984,424  
Leisure Products – 1.1%      

Acushnet Holdings Corp.

     21,904        563,371  

Callaway Golf Co.

     2,909        29,730  

Johnson Outdoors, Inc. Class A

     1,327        83,203  

Sturm Ruger & Co., Inc.

     2,660        135,420  
     

 

 

 
Total Leisure Products               811,724  
Machinery – 7.5%      

Alamo Group, Inc.

     613        54,422  

Albany International Corp. Class A

     3,236        153,160  

Altra Industrial Motion Corp.

     15,394        269,241  

Barnes Group, Inc.

     6,347        265,495  

Columbus McKinnon Corp.

     1,673        41,825  

Douglas Dynamics, Inc.

     5,705        202,585  

Eastern Co. (The)

     1,196        23,322  

EnPro Industries, Inc.

     3,858        152,700  

ESCO Technologies, Inc.

     1,199        91,016  

Federal Signal Corp.

     7,344        200,344  

Franklin Electric Co., Inc.

     5,917        278,868  

Gorman-Rupp Co. (The)

     5,003        156,144  

Greenbrier Cos., Inc. (The)

     13,056        231,613  

Helios Technologies, Inc.

     3,007        114,025  

Hillenbrand, Inc.

     23,225        443,830  

Hyster-Yale Materials Handling, Inc.

     3,192        127,967  

Kadant, Inc.

     1,199        89,505  

Kennametal, Inc.

     21,559        401,429  

Miller Industries, Inc.

     2,979        84,246  

Mueller Industries, Inc.

     8,641        206,866  

Mueller Water Products, Inc. Class A

     34,324        274,935  

Omega Flex, Inc.

     1,447        122,127  

Park-Ohio Holdings Corp.

     2,148        40,683  

REV Group, Inc.

     12,321        51,379  

Spartan Motors, Inc.

     2,528        32,636  

Standex International Corp.

     1,717      84,167  

Tennant Co.

     2,482        143,832  

Trinity Industries, Inc.

     50,260        807,678  

Wabash National Corp.

     13,094        94,539  

Watts Water Technologies, Inc. Class A

     3,155        267,071  
     

 

 

 
Total Machinery               5,507,650  
Marine – 0.5%      

Matson, Inc.

     12,351        378,188  
Media – 2.5%      

John Wiley & Sons, Inc. Class A

     21,771        816,195  

Meredith Corp.(a)

     43,506        531,643  

Saga Communications, Inc. Class A

     2,636        72,517  

Sinclair Broadcast Group, Inc. Class A(a)

     28,854        463,972  
     

 

 

 
Total Media               1,884,327  
Metals & Mining – 2.7%      

Carpenter Technology Corp.

     11,708        228,306  

Kaiser Aluminum Corp.

     5,424        375,775  

Materion Corp.

     2,396        83,884  

Schnitzer Steel Industries, Inc. Class A

     15,351        200,177  

SunCoke Energy, Inc.

     59,803        230,242  

United States Steel Corp.(a)

     40,698        256,804  

Worthington Industries, Inc.

     22,293        585,191  
     

 

 

 
Total Metals & Mining               1,960,379  
Multi-Utilities – 0.4%      

Unitil Corp.

     5,898        308,583  
Oil, Gas & Consumable Fuels – 0.1%      

NACCO Industries, Inc. Class A

     1,564        43,761  
Paper & Forest Products – 1.2%      

Neenah, Inc.

     7,102        306,309  

Schweitzer-Mauduit International, Inc.

     19,899        553,590  
     

 

 

 
Total Paper & Forest Products               859,899  
Personal Products – 1.4%      

Inter Parfums, Inc.

     9,478        439,305  

Medifast, Inc.

     9,597        599,813  
     

 

 

 
Total Personal Products               1,039,118  
Professional Services – 1.2%      

Barrett Business Services, Inc.

     1,190        47,172  

BG Staffing, Inc.

     7,433        55,599  

CRA International, Inc.

     1,616        53,990  

ICF International, Inc.

     1,504        103,325  

Insperity, Inc.

     7,032        262,294  

Kelly Services, Inc. Class A

     5,839        74,097  

Kforce, Inc.

     4,913        125,625  

Korn Ferry

     6,461        157,131  
     

 

 

 
Total Professional Services               879,233  
Real Estate Management & Development – 0.8%      

Consolidated-Tomoka Land Co.

     708        32,094  

Newmark Group, Inc. Class A

     78,203        332,363  

RMR Group, Inc. (The) Class A

     8,527        229,973  
     

 

 

 
Total Real Estate Management & Development               594,430  

 

See Notes to Financial Statements.

 

WisdomTree Trust      89  


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Road & Rail – 2.1%      

Heartland Express, Inc.

     3,902      $ 72,460  

Marten Transport Ltd.

     3,941        80,869  

Ryder System, Inc.

     28,135        743,889  

Schneider National, Inc. Class B

     12,308        238,037  

Universal Logistics Holdings, Inc.

     7,550        98,905  

Werner Enterprises, Inc.

     8,248        299,073  
     

 

 

 
Total Road & Rail               1,533,233  
Semiconductors & Semiconductor Equipment – 0.5%

 

  

Power Integrations, Inc.

     3,916        345,900  
Software – 0.1%      

Ebix, Inc.

     4,593        69,722  

GlobalSCAPE, Inc.

     1,681        11,968  
     

 

 

 
Total Software               81,690  
Specialty Retail – 4.6%      

Abercrombie & Fitch Co. Class A

     49,098        446,301  

American Eagle Outfitters, Inc.(a)

     106,126        843,702  

Designer Brands, Inc. Class A

     71,415        355,647  

Dick’s Sporting Goods, Inc.

     24,146        513,344  

Group 1 Automotive, Inc.

     3,404        150,661  

Haverty Furniture Cos., Inc.

     11,391        135,439  

Monro, Inc.

     6,071        265,970  

Office Depot, Inc.

     367,945        603,430  

Shoe Carnival, Inc.

     2,254        46,815  
     

 

 

 
Total Specialty Retail               3,361,309  
Textiles, Apparel & Luxury Goods – 0.4%      

Culp, Inc.

     5,930        43,645  

Oxford Industries, Inc.

     5,441        197,291  

Superior Group of Cos., Inc.

     5,879        49,736  
     

 

 

 
Total Textiles, Apparel & Luxury Goods               290,672  
Thrifts & Mortgage Finance – 1.9%      

Federal Agricultural Mortgage Corp. Class C

     5,245        291,779  

Flagstar Bancorp, Inc.

     3,823        75,810  

FS Bancorp, Inc.

     850        30,600  

Hingham Institution for Savings

     324        46,977  

Merchants Bancorp

     7,079        107,459  

PennyMac Financial Services, Inc.

     18,556        410,273  

Sterling Bancorp, Inc.

     4,748        20,417  

Timberland Bancorp, Inc.

     2,868        52,456  

Walker & Dunlop, Inc.

     9,111        366,900  
     

 

 

 
Total Thrifts & Mortgage Finance               1,402,671  
Trading Companies & Distributors – 2.3%      

Applied Industrial Technologies, Inc.

     8,649        395,432  

GATX Corp.(a)

     9,531        596,260  

H&E Equipment Services, Inc.

     14,852        218,027  

Kaman Corp.

     3,967        152,611  

Rush Enterprises, Inc. Class A

     3,649        116,476  

Rush Enterprises, Inc. Class B

     1,312        40,029  

Systemax, Inc.

     8,870        157,265  
     

 

 

 
Total Trading Companies & Distributors               1,676,100  
Water Utilities – 3.0%      

American States Water Co.

     8,711      712,037  

California Water Service Group

     12,749        641,530  

Middlesex Water Co.

     4,630        278,356  

SJW Group

     8,150        470,825  

York Water Co. (The)

     3,402        147,851  
     

 

 

 
Total Water Utilities               2,250,599  
Total United States               73,132,152  
Puerto Rico – 0.7%      
Banks – 0.5%      

First BanCorp

     67,526        359,238  
IT Services – 0.2%      

EVERTEC, Inc.

     7,573        172,134  
Total Puerto Rico               531,372  

TOTAL COMMON STOCKS

(Cost: $102,358,036)

              73,663,524  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.5%

 

United States – 3.5%      

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(b)

 

  
(Cost: $2,584,671)      2,584,671        2,584,671  

TOTAL INVESTMENTS IN SECURITIES – 103.3%

(Cost: $104,942,707)

        76,248,195  

Other Assets less Liabilities – (3.3)%

        (2,445,711
     

 

 

 
NET ASSETS – 100.0%             $ 73,802,484  
(a)

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $3,566,234 and the total market value of the collateral held by the Fund was $3,655,322. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,070,651.

 

(b)

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

90   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%      
United States – 99.8%      
Aerospace & Defense – 1.7%      

Arconic, Inc.

     929      $ 14,920  

BWX Technologies, Inc.

     2,125        103,509  

General Dynamics Corp.

     10,185        1,347,577  

Hexcel Corp.

     2,163        80,442  

Huntington Ingalls Industries, Inc.

     1,266        230,678  

L3Harris Technologies, Inc.

     5,083        915,550  

Lockheed Martin Corp.

     10,539        3,572,194  

Northrop Grumman Corp.

     3,921        1,186,298  

Raytheon Co.

     7,325        960,674  

Spirit AeroSystems Holdings, Inc. Class A

     1,322        31,635  

United Technologies Corp.

     26,654        2,514,272  
     

 

 

 
Total Aerospace & Defense               10,957,749  
Air Freight & Logistics – 0.7%      

C.H. Robinson Worldwide, Inc.

     5,863        388,131  

Expeditors International of Washington, Inc.

     4,191        279,623  

FedEx Corp.

     5,818        705,491  

United Parcel Service, Inc. Class B

     34,656        3,237,563  
     

 

 

 
Total Air Freight & Logistics               4,610,808  
Airlines – 0.1%      

American Airlines Group, Inc.(a)

     7,157        87,244  

Southwest Airlines Co.

     9,852        350,830  
     

 

 

 
Total Airlines               438,074  
Auto Components – 0.1%      

BorgWarner, Inc.

     5,366        130,769  

Dana, Inc.

     7,791        60,848  

Gentex Corp.

     7,812        173,114  

Goodyear Tire & Rubber Co. (The)

     13,850        80,607  

Lear Corp.(a)

     2,549        207,106  
     

 

 

 
Total Auto Components               652,444  
Automobiles – 0.3%      

General Motors Co.

     90,797        1,886,762  

Harley-Davidson, Inc.(a)

     9,339        176,787  

Thor Industries, Inc.

     2,216        93,471  
     

 

 

 
Total Automobiles               2,157,020  
Banks – 7.3%      

Associated Banc-Corp.

     11,643        148,914  

Bank of America Corp.

     292,418        6,208,034  

Bank of Hawaii Corp.

     4,583        253,165  

Bank OZK

     9,016        150,567  

BOK Financial Corp.

     4,437        188,839  

Cadence BanCorp

     13,090        85,740  

Cathay General Bancorp

     10,938        251,027  

CIT Group, Inc.

     6,163        106,373  

Citigroup, Inc.

     90,459        3,810,133  

Citizens Financial Group, Inc.

     24,980        469,874  

Comerica, Inc.

     10,884        319,337  

Commerce Bancshares, Inc.(a)

     5,320        267,862  

Cullen/Frost Bankers, Inc.(a)

     4,725        263,608  

CVB Financial Corp.

     5,924        118,776  

East West Bancorp, Inc.

     6,942      178,687  

Fifth Third Bancorp

     36,154        536,887  

First Financial Bancorp

     15,085        224,917  

First Hawaiian, Inc.

     9,986        165,069  

First Horizon National Corp.

     21,122        170,243  

First Republic Bank

     3,299        271,442  

FNB Corp.

     25,858        190,573  

Glacier Bancorp, Inc.

     4,092        139,148  

Hancock Whitney Corp.

     6,516        127,192  

Home BancShares, Inc.

     14,801        177,464  

Huntington Bancshares, Inc.

     73,137        600,455  

Iberiabank Corp.

     4,482        162,069  

Investors Bancorp, Inc.

     22,006        175,828  

JPMorgan Chase & Co.

     128,890        11,603,967  

KeyCorp

     59,443        616,424  

M&T Bank Corp.

     6,298        651,402  

Old National Bancorp

     23,590        311,152  

PacWest Bancorp

     13,512        242,135  

People’s United Financial, Inc.

     33,401        369,081  

PNC Financial Services Group, Inc. (The)

     20,525        1,964,653  

Popular, Inc.

     4,426        154,910  

Prosperity Bancshares, Inc.

     6,442        310,827  

Regions Financial Corp.

     57,537        516,107  

Signature Bank

     2,333        187,550  

Synovus Financial Corp.

     8,910        156,460  

TCF Financial Corp.(a)

     8,354        189,302  

Truist Financial Corp.

     69,704        2,149,671  

U.S. Bancorp

     67,432        2,323,032  

Umpqua Holdings Corp.

     27,240        296,916  

United Bankshares, Inc.

     7,632        176,147  

Valley National Bancorp

     37,674        275,397  

Webster Financial Corp.

     7,918        181,322  

Wells Fargo & Co.

     253,072        7,263,166  

Western Alliance Bancorp

     4,342        132,909  

Zions Bancorp N.A.

     10,470        280,177  
     

 

 

 
Total Banks               46,114,930  
Beverages – 2.9%      

Brown-Forman Corp. Class A

     4,391        225,609  

Brown-Forman Corp. Class B(a)

     4,167        231,310  

Coca-Cola Co. (The)

     198,784        8,796,192  

Constellation Brands, Inc. Class A

     3,760        539,034  

Keurig Dr. Pepper, Inc.

     43,621        1,058,682  

Molson Coors Beverage Co. Class B

     12,196        475,766  

PepsiCo, Inc.

     59,908        7,194,951  
     

 

 

 
Total Beverages               18,521,544  
Biotechnology – 3.0%      

AbbVie, Inc.

     121,549        9,260,818  

Amgen, Inc.

     22,315        4,523,920  

Gilead Sciences, Inc.

     72,104        5,390,495  
     

 

 

 
Total Biotechnology               19,175,233  
Building Products – 0.1%      

A.O. Smith Corp.

     4,880        184,513  

Fortune Brands Home & Security, Inc.

     3,594        155,440  

 

See Notes to Financial Statements.

 

WisdomTree Trust      91  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  

Lennox International, Inc.

     808      $ 146,886  

Masco Corp.

     4,891        169,082  

Owens Corning

     3,071        119,186  
     

 

 

 
Total Building Products               775,107  
Capital Markets – 3.5%      

Affiliated Managers Group, Inc.

     2,091        123,662  

Ameriprise Financial, Inc.

     4,957        507,993  

Ares Management Corp. Class A

     6,077        187,962  

Artisan Partners Asset Management, Inc. Class A

     9,873        212,171  

Bank of New York Mellon Corp. (The)

     35,834        1,206,889  

BGC Partners, Inc. Class A

     59,006        148,695  

BlackRock, Inc.

     6,320        2,780,610  

Blackstone Group, Inc. (The) Class A

     33,488        1,526,048  

CBOE Global Markets, Inc.

     1,931        172,342  

Charles Schwab Corp. (The)

     26,561        892,981  

CME Group, Inc.

     8,249        1,426,335  

Cohen & Steers, Inc.

     2,780        126,351  

E*TRADE Financial Corp.

     2,258        77,495  

Eaton Vance Corp.

     7,212        232,587  

Evercore, Inc. Class A

     1,435        66,096  

FactSet Research Systems, Inc.(a)

     697        181,694  

Federated Hermes, Inc. Class B

     7,231        137,751  

Franklin Resources, Inc.

     32,572        543,627  

Goldman Sachs Group, Inc. (The)

     11,221        1,734,654  

Intercontinental Exchange, Inc.

     10,819        873,634  

KKR & Co., Inc. Class A

     16,054        376,787  

Legg Mason, Inc.

     12,207        596,312  

LPL Financial Holdings, Inc.

     2,213        120,454  

MarketAxess Holdings, Inc.

     185        61,525  

Moelis & Co. Class A

     4,636        130,272  

Moody’s Corp.

     2,235        472,702  

Morgan Stanley

     68,757        2,337,738  

MSCI, Inc.

     1,148        331,726  

Nasdaq, Inc.

     5,226        496,209  

Northern Trust Corp.

     8,931        673,933  

Raymond James Financial, Inc.

     2,851        180,183  

S&P Global, Inc.

     3,188        781,219  

SEI Investments Co.

     3,104        143,839  

State Street Corp.

     14,945        796,120  

T. Rowe Price Group, Inc.

     8,615        841,255  

TD Ameritrade Holding Corp.

     16,178        560,729  

Virtu Financial, Inc. Class A

     7,863        163,708  

Waddell & Reed Financial, Inc. Class A

     9,331        106,187  
     

 

 

 
Total Capital Markets               22,330,475  
Chemicals – 1.5%      

Air Products & Chemicals, Inc.

     7,004        1,398,069  

Albemarle Corp.

     3,352        188,952  

Cabot Corp.

     4,243        110,827  

Celanese Corp.

     4,262        312,788  

CF Industries Holdings, Inc.

     8,202        223,094  

Chemours Co. (The)

     13,183        116,933  

Corteva, Inc.

     22,861        537,234  

Dow, Inc.

     58,351        1,706,183  

DuPont de Nemours, Inc.

     20,592      702,187  

Eastman Chemical Co.

     7,639        355,825  

Ecolab, Inc.

     4,341        676,458  

FMC Corp.

     3,726        304,377  

Huntsman Corp.

     10,389        149,913  

International Flavors & Fragrances, Inc.

     3,517        359,015  

Kronos Worldwide, Inc.

     13,687        115,518  

Mosaic Co. (The)

     2,062        22,311  

NewMarket Corp.

     434        166,166  

Olin Corp.(a)

     11,607        135,454  

PolyOne Corp.

     4,643        88,078  

PPG Industries, Inc.

     6,070        507,452  

RPM International, Inc.

     4,817        286,612  

Scotts Miracle-Gro Co. (The)

     2,611        267,366  

Sherwin-Williams Co. (The)

     1,170        537,638  

Valvoline, Inc.

     7,798        102,076  

W.R. Grace & Co.

     2,888        102,813  

Westlake Chemical Corp.

     3,134        119,625  
     

 

 

 
Total Chemicals               9,592,964  
Commercial Services & Supplies – 0.6%      

ABM Industries, Inc.

     3,656        89,060  

ADT, Inc.(a)

     13,449        58,100  

Brink’s Co. (The)

     592        30,814  

Cintas Corp.

     1,742        301,749  

Covanta Holding Corp.

     14,697        125,659  

Deluxe Corp.

     2,600        67,418  

Healthcare Services Group, Inc.(a)

     6,014        143,795  

Herman Miller, Inc.

     3,322        73,748  

HNI Corp.

     4,009        100,987  

KAR Auction Services, Inc.

     8,194        98,328  

Knoll, Inc.

     4,859        50,145  

Mobile Mini, Inc.

     4,116        107,963  

MSA Safety, Inc.

     1,428        144,514  

Pitney Bowes, Inc.(a)

     18,635        38,015  

Quad/Graphics, Inc.

     25,009        63,023  

Republic Services, Inc.

     9,036        678,242  

Rollins, Inc.(a)

     5,945        214,852  

Steelcase, Inc. Class A

     8,446        83,362  

Waste Management, Inc.

     12,156        1,125,159  
     

 

 

 
Total Commercial Services & Supplies               3,594,933  
Communications Equipment – 1.4%      

Cisco Systems, Inc.

     202,582        7,963,498  

InterDigital, Inc.

     2,739        122,242  

Juniper Networks, Inc.

     15,316        293,148  

Motorola Solutions, Inc.

     3,782        502,703  

Plantronics, Inc.(a)

     1,004        10,100  

Ubiquiti, Inc.(a)

     463        65,552  
     

 

 

 
Total Communications Equipment               8,957,243  
Construction & Engineering – 0.0%      

Fluor Corp.

     2,232        15,423  

Granite Construction, Inc.(a)

     2,476        37,586  

Jacobs Engineering Group, Inc.

     2,295        181,924  
     

 

 

 
Total Construction & Engineering               234,933  

 

See Notes to Financial Statements.

 

92   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  
Construction Materials – 0.1%      

Martin Marietta Materials, Inc.

     861      $ 162,927  

Vulcan Materials Co.

     2,085        225,326  
     

 

 

 
Total Construction Materials               388,253  
Consumer Finance – 0.6%      

Ally Financial, Inc.

     11,622        167,706  

American Express Co.

     17,507        1,498,774  

Capital One Financial Corp.

     11,193        564,351  

Discover Financial Services

     8,735        311,577  

FirstCash, Inc.

     1,902        136,450  

Navient Corp.

     11,741        88,997  

OneMain Holdings, Inc.

     4,668        89,252  

Santander Consumer USA Holdings, Inc.

     19,696        273,971  

Synchrony Financial

     23,651        380,545  
     

 

 

 
Total Consumer Finance               3,511,623  
Containers & Packaging – 0.4%      

Avery Dennison Corp.

     2,456        250,193  

Ball Corp.

     4,029        260,515  

Graphic Packaging Holding Co.

     7,790        95,038  

Greif, Inc. Class A

     3,406        105,893  

International Paper Co.

     23,930        744,941  

O-I Glass, Inc.

     2,095        14,895  

Packaging Corp. of America

     3,840        333,427  

Sealed Air Corp.

     4,339        107,217  

Silgan Holdings, Inc.

     5,125        148,727  

Sonoco Products Co.

     5,053        234,207  

WestRock Co.

     15,352        433,847  
     

 

 

 
Total Containers & Packaging               2,728,900  
Distributors – 0.1%      

Genuine Parts Co.

     6,891        463,971  

Pool Corp.

     839        165,090  
     

 

 

 
Total Distributors               629,061  
Diversified Consumer Services – 0.1%      

H&R Block, Inc.

     9,731        137,013  

Service Corp. International

     5,231        204,584  

Strategic Education, Inc.

     950        132,772  
     

 

 

 
Total Diversified Consumer Services               474,369  
Diversified Financial Services – 0.1%      

Equitable Holdings, Inc.

     20,533        296,702  

Jefferies Financial Group, Inc.

     14,525        198,557  

Voya Financial, Inc.

     3,538        143,466  
     

 

 

 
Total Diversified Financial Services               638,725  
Diversified Telecommunication Services – 5.1%      

AT&T, Inc.

     582,246        16,972,471  

CenturyLink, Inc.

     104,655        990,036  

Cogent Communications Holdings, Inc.

     2,964        242,959  

Verizon Communications, Inc.

     259,849        13,961,687  
     

 

 

 
Total Diversified Telecommunication Services               32,167,153  
Electric Utilities – 4.0%      

ALLETE, Inc.

     2,849        172,877  

Alliant Energy Corp.

     11,339        547,560  

American Electric Power Co., Inc.

     23,582      1,886,088  

Avangrid, Inc.

     18,367        804,107  

Duke Energy Corp.

     46,477        3,759,060  

Edison International

     17,644        966,715  

El Paso Electric Co.

     1,852        125,862  

Entergy Corp.

     8,956        841,595  

Evergy, Inc.

     12,268        675,353  

Eversource Energy

     13,624        1,065,533  

Exelon Corp.

     45,958        1,691,714  

FirstEnergy Corp.

     23,564        944,209  

Hawaiian Electric Industries, Inc.

     5,991        257,913  

IDACORP, Inc.

     2,707        237,648  

NextEra Energy, Inc.

     15,696        3,776,771  

NRG Energy, Inc.

     2,299        62,671  

OGE Energy Corp.

     12,694        390,087  

Pinnacle West Capital Corp.

     7,125        540,004  

Portland General Electric Co.

     5,266        252,452  

PPL Corp.

     49,414        1,219,538  

Southern Co. (The)

     64,526        3,493,438  

Xcel Energy, Inc.

     24,078        1,451,903  
     

 

 

 
Total Electric Utilities               25,163,098  
Electrical Equipment – 0.3%      

AMETEK, Inc.

     2,394        172,416  

Emerson Electric Co.

     23,858        1,136,833  

GrafTech International Ltd.

     8,457        68,671  

Hubbell, Inc.

     2,366        271,475  

Rockwell Automation, Inc.

     3,301        498,154  
     

 

 

 
Total Electrical Equipment               2,147,549  
Electronic Equipment, Instruments & Components – 0.3%

 

  

Amphenol Corp. Class A

     4,543        331,094  

Avnet, Inc.

     5,003        125,575  

CDW Corp.

     2,560        238,771  

Cognex Corp.

     1,152        48,637  

Corning, Inc.

     31,601        649,085  

FLIR Systems, Inc.

     3,285        104,759  

Jabil, Inc.

     2,716        66,759  

National Instruments Corp.

     6,656        220,181  

Vishay Intertechnology, Inc.

     6,320        91,071  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     1,875,932  
Energy Equipment & Services – 0.1%      

Archrock, Inc.

     19,073        71,715  

Baker Hughes Co.

     31,801        333,911  

Halliburton Co.

     37,924        259,779  

Helmerich & Payne, Inc.

     11,027        172,573  

National Oilwell Varco, Inc.

     2,442        24,005  

Patterson-UTI Energy, Inc.

     7,521        17,674  

U.S. Silica Holdings, Inc.(a)

     7,863        14,153  
     

 

 

 
Total Energy Equipment & Services

 

     893,810  
Entertainment – 0.6%

 

Activision Blizzard, Inc.

     8,330        495,468  

AMC Entertainment Holdings, Inc. Class A(a)

     17,148        54,188  

Cinemark Holdings, Inc.(a)

     8,726        88,918  

 

See Notes to Financial Statements.

 

WisdomTree Trust      93  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  

Walt Disney Co. (The)

     32,964      $ 3,184,322  
     

 

 

 
Total Entertainment

 

     3,822,896  
Equity Real Estate Investment Trusts (REITs) – 7.5%

 

Acadia Realty Trust

     9,092        112,650  

Agree Realty Corp.

     3,296        204,022  

Alexander & Baldwin, Inc.

     7,911        88,761  

Alexandria Real Estate Equities, Inc.

     4,256        583,327  

American Campus Communities, Inc.

     10,076        279,609  

American Finance Trust, Inc.

     18,237        113,981  

American Homes 4 Rent Class A

     6,231        144,559  

American Tower Corp.

     11,194        2,437,494  

Americold Realty Trust

     6,086        207,167  

Apartment Investment & Management Co. Class A

     7,106        249,776  

AvalonBay Communities, Inc.

     6,295        926,435  

Boston Properties, Inc.

     6,010        554,302  

Brandywine Realty Trust

     19,010        199,985  

Brixmor Property Group, Inc.

     21,969        208,706  

Brookfield Property REIT, Inc. Class A(a)

     11,580        98,314  

Camden Property Trust

     4,671        370,130  

CareTrust REIT, Inc.

     10,184        150,621  

Colony Capital, Inc.

     62,442        109,274  

Columbia Property Trust, Inc.

     7,396        92,450  

CoreCivic, Inc.

     23,177        258,887  

CorePoint Lodging, Inc.

     12,824        50,270  

CoreSite Realty Corp.

     3,002        347,932  

Corporate Office Properties Trust

     9,489        209,992  

Cousins Properties, Inc.

     7,642        223,681  

Crown Castle International Corp.

     21,171        3,057,092  

CubeSmart

     14,551        389,821  

CyrusOne, Inc.

     5,357        330,795  

Digital Realty Trust, Inc.

     11,050        1,534,956  

Diversified Healthcare Trust

     30,588        111,034  

Douglas Emmett, Inc.

     8,615        262,844  

Duke Realty Corp.

     15,206        492,370  

Easterly Government Properties, Inc.

     8,704        214,467  

EastGroup Properties, Inc.

     1,919        200,497  

Empire State Realty Trust, Inc. Class A

     12,143        108,801  

EPR Properties

     8,865        214,710  

Equinix, Inc.

     2,143        1,338,454  

Equity LifeStyle Properties, Inc.

     5,858        336,718  

Equity Residential

     15,149        934,845  

Essential Properties Realty Trust, Inc.

     7,639        99,765  

Essex Property Trust, Inc.

     2,701        594,868  

Extra Space Storage, Inc.

     7,106        680,471  

Federal Realty Investment Trust

     4,309        321,495  

First Industrial Realty Trust, Inc.

     5,438        180,705  

Gaming and Leisure Properties, Inc.

     22,211        615,467  

GEO Group, Inc. (The)

     22,426        272,700  

Global Net Lease, Inc.

     18,301        244,684  

Hannon Armstrong Sustainable Infrastructure Capital, Inc.

     7,096        144,829  

Healthcare Realty Trust, Inc.

     9,881        275,976  

Healthcare Trust of America, Inc. Class A

     14,758        358,324  

Healthpeak Properties, Inc.

     32,597        777,439  

Highwoods Properties, Inc.

     8,125      287,788  

Host Hotels & Resorts, Inc.

     41,241        455,301  

Hudson Pacific Properties, Inc.

     8,725        221,266  

Independence Realty Trust, Inc.

     10,812        96,659  

Innovative Industrial Properties, Inc.

     1,893        143,736  

Invitation Homes, Inc.

     17,490        373,761  

Iron Mountain, Inc.(a)

     31,429        748,010  

JBG SMITH Properties

     6,756        215,044  

Kilroy Realty Corp.

     4,714        300,282  

Kimco Realty Corp.

     31,575        305,330  

Kite Realty Group Trust

     13,188        124,890  

Lamar Advertising Co. Class A

     6,634        340,192  

Lexington Realty Trust

     22,198        220,426  

Life Storage, Inc.

     3,428        324,117  

LTC Properties, Inc.

     4,860        150,174  

Macerich Co. (The)(a)

     19,286        108,580  

Mack-Cali Realty Corp.

     5,038        76,729  

Medical Properties Trust, Inc.

     38,792        670,714  

Mid-America Apartment Communities, Inc.

     5,193        535,035  

National Health Investors, Inc.

     4,464        221,057  

National Retail Properties, Inc.

     11,438        368,189  

New Senior Investment Group, Inc.

     19,243        49,262  

Office Properties Income Trust

     7,208        196,418  

Omega Healthcare Investors, Inc.

     20,268        537,913  

Outfront Media, Inc.

     13,783        185,795  

Paramount Group, Inc.

     16,090        141,592  

Park Hotels & Resorts, Inc.

     23,557        186,336  

Pebblebrook Hotel Trust

     10,290        112,058  

Pennsylvania Real Estate Investment Trust(a)

     6,353        5,791  

Physicians Realty Trust

     14,782        206,061  

Piedmont Office Realty Trust, Inc. Class A

     10,328        182,393  

PotlatchDeltic Corp.

     5,719        179,519  

Preferred Apartment Communities, Inc. Class A(a)

     11,572        83,087  

Prologis, Inc.

     26,982        2,168,543  

PS Business Parks, Inc.

     1,490        201,925  

Public Storage

     10,076        2,001,194  

QTS Realty Trust, Inc. Class A

     4,524        262,437  

Rayonier, Inc.

     9,253        217,908  

Realty Income Corp.

     20,326        1,013,454  

Regency Centers Corp.

     10,171        390,872  

Retail Opportunity Investments Corp.

     6,502        53,902  

Retail Properties of America, Inc. Class A

     21,876        113,099  

RLJ Lodging Trust

     24,099        186,044  

RPT Realty

     12,955        78,119  

Ryman Hospitality Properties, Inc.

     4,198        150,498  

Sabra Health Care REIT, Inc.

     24,295        265,301  

SBA Communications Corp.

     458        123,646  

Service Properties Trust

     26,106        140,972  

Simon Property Group, Inc.

     26,166        1,435,467  

SITE Centers Corp.

     20,335        105,945  

SL Green Realty Corp.

     4,503        194,079  

Spirit Realty Capital, Inc.

     8,432        220,497  

STAG Industrial, Inc.

     11,510        259,205  

STORE Capital Corp.

     13,541        245,363  

 

See Notes to Financial Statements.

 

94   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  

Sun Communities, Inc.

     3,197      $ 399,146  

Sunstone Hotel Investors, Inc.

     6,851        59,672  

Tanger Factory Outlet Centers, Inc.(a)

     16,238        81,190  

Taubman Centers, Inc.

     9,327        390,615  

UDR, Inc.

     15,205        555,591  

Uniti Group, Inc.

     26,084        157,287  

Urban Edge Properties

     12,391        109,165  

Ventas, Inc.

     33,663        902,168  

VEREIT, Inc.

     78,322        382,995  

VICI Properties, Inc.

     30,051        500,049  

Vornado Realty Trust

     10,726        388,389  

W.P. Carey, Inc.

     12,854        746,560  

Washington Prime Group, Inc.(a)

     60,265        48,519  

Weingarten Realty Investors

     12,504        180,433  

Welltower, Inc.

     24,897        1,139,785  

Weyerhaeuser Co.

     46,856        794,209  

Xenia Hotels & Resorts, Inc.

     12,704        130,851  
     

 

 

 
Total Equity Real Estate Investment Trusts (REITs)               47,465,051  
Food & Staples Retailing – 2.3%      

Andersons, Inc. (The)

     4,871        91,331  

Costco Wholesale Corp.

     6,032        1,719,904  

Kroger Co. (The)

     27,272        821,433  

SpartanNash Co.

     9,255        132,532  

Sysco Corp.

     16,919        772,014  

Walgreens Boots Alliance, Inc.

     42,388        1,939,251  

Walmart, Inc.

     77,400        8,794,188  
     

 

 

 
Total Food & Staples Retailing               14,270,653  
Food Products – 2.2%      

Archer-Daniels-Midland Co.

     26,913        946,799  

B&G Foods, Inc.

     14,080        254,707  

Campbell Soup Co.

     13,063        602,988  

Conagra Brands, Inc.

     20,371        597,685  

Flowers Foods, Inc.

     15,076        309,360  

General Mills, Inc.

     35,544        1,875,657  

Hershey Co. (The)

     5,029        666,343  

Hormel Foods Corp.

     18,107        844,510  

Ingredion, Inc.

     3,735        281,993  

J.M. Smucker Co. (The)

     6,108        677,988  

Kellogg Co.

     17,575        1,054,324  

Kraft Heinz Co. (The)

     90,604        2,241,543  

Lamb Weston Holdings, Inc.

     2,078        118,654  

Lancaster Colony Corp.

     1,257        181,812  

McCormick & Co., Inc. Non-Voting Shares

     3,188        450,177  

Mondelez International, Inc. Class A

     47,360        2,371,789  

Tyson Foods, Inc. Class A

     8,402        486,224  
     

 

 

 
Total Food Products               13,962,553  
Gas Utilities – 0.3%      

Atmos Energy Corp.

     4,617        458,145  

National Fuel Gas Co.

     6,700        249,843  

New Jersey Resources Corp.

     5,847        198,623  

South Jersey Industries, Inc.

     7,833        195,825  

Southwest Gas Holdings, Inc.

     3,406        236,921  

Spire, Inc.

     3,428        255,317  

UGI Corp.

     8,606      229,522  
     

 

 

 
Total Gas Utilities               1,824,196  
Health Care Equipment & Supplies – 1.2%      

Abbott Laboratories

     39,682        3,131,307  

Baxter International, Inc.

     7,975        647,490  

Becton, Dickinson and Co.

     4,736        1,088,191  

Danaher Corp.

     5,846        809,145  

Dentsply Sirona, Inc.

     2,935        113,966  

Hill-Rom Holdings, Inc.

     1,411        141,946  

ResMed, Inc.

     2,434        358,504  

Stryker Corp.

     6,608        1,100,166  

Teleflex, Inc.

     361        105,722  

West Pharmaceutical Services, Inc.

     947        144,181  

Zimmer Biomet Holdings, Inc.

     1,976        199,734  
     

 

 

 
Total Health Care Equipment & Supplies               7,840,352  
Health Care Providers & Services – 2.0%      

AmerisourceBergen Corp.

     5,569        492,857  

Anthem, Inc.

     4,276        970,823  

Cardinal Health, Inc.

     14,324        686,693  

Cigna Corp.

     385        68,214  

CVS Health Corp.

     51,918        3,080,295  

Encompass Health Corp.

     3,332        213,348  

HCA Healthcare, Inc.

     5,171        464,614  

Humana, Inc.

     1,175        368,974  

McKesson Corp.

     2,776        375,482  

Patterson Cos., Inc.

     10,318        157,762  

Quest Diagnostics, Inc.

     4,036        324,091  

UnitedHealth Group, Inc.

     22,009        5,488,604  

Universal Health Services, Inc. Class B

     693        68,662  
     

 

 

 
Total Health Care Providers & Services               12,760,419  
Health Care Technology – 0.1%      

Cerner Corp.

     5,105        321,564  
Hotels, Restaurants & Leisure – 1.9%      

Aramark

     3,192        63,744  

Brinker International, Inc.

     4,033        48,436  

Cheesecake Factory, Inc. (The)(a)

     4,453        76,057  

Choice Hotels International, Inc.

     1,272        77,910  

Cracker Barrel Old Country Store, Inc.

     1,758        146,301  

Dave & Buster’s Entertainment, Inc.

     2,797        36,585  

Dine Brands Global, Inc.

     1,804        51,739  

Domino’s Pizza, Inc.

     486        157,498  

Dunkin’ Brands Group, Inc.

     3,076        163,336  

Jack in the Box, Inc.(a)

     1,650        57,832  

Las Vegas Sands Corp.

     53,077        2,254,180  

Marriott Vacations Worldwide Corp.

     1,382        76,811  

McDonald’s Corp.

     29,003        4,795,646  

MGM Resorts International

     9,608        113,374  

Six Flags Entertainment Corp.

     8,814        110,527  

Starbucks Corp.

     33,945        2,231,544  

Texas Roadhouse, Inc.

     3,656        150,993  

Vail Resorts, Inc.

     1,960        289,512  

Wendy’s Co. (The)

     9,002        133,950  

 

See Notes to Financial Statements.

 

WisdomTree Trust      95  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  

Wyndham Destinations, Inc.

     4,158      $ 90,229  

Wyndham Hotels & Resorts, Inc.

     3,908        123,141  

Wynn Resorts Ltd.

     4,540        273,263  

Yum! Brands, Inc.

     7,026        481,492  
     

 

 

 
Total Hotels, Restaurants & Leisure               12,004,100  
Household Durables – 0.2%      

D.R. Horton, Inc.

     7,139        242,726  

Leggett & Platt, Inc.

     6,774        180,730  

Lennar Corp. Class A

     1,484        56,689  

MDC Holdings, Inc.

     4,311        100,015  

Newell Brands, Inc.

     27,916        370,725  

PulteGroup, Inc.

     5,968        133,206  

Whirlpool Corp.(a)

     3,029        259,888  
     

 

 

 
Total Household Durables               1,343,979  
Household Products – 2.4%

 

Church & Dwight Co., Inc.

     4,964        318,590  

Clorox Co. (The)

     5,134        889,465  

Colgate-Palmolive Co.

     33,278        2,208,328  

Energizer Holdings, Inc.

     2,205        66,701  

Kimberly-Clark Corp.

     14,670        1,875,853  

Procter & Gamble Co. (The)

     90,671        9,973,810  

Spectrum Brands Holdings, Inc.

     2,056        74,777  
     

 

 

 
Total Household Products               15,407,524  
Independent Power & Renewable Electricity Producers – 0.2%

 

AES Corp.

     22,407        304,735  

Clearway Energy, Inc. Class A

     6,744        115,795  

Clearway Energy, Inc. Class C

     8,771        164,895  

TerraForm Power, Inc. Class A

     16,472        259,763  

Vistra Energy Corp.

     12,374        197,489  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     1,042,677  
Industrial Conglomerates – 1.2%

 

3M Co.

     29,453        4,020,629  

Carlisle Cos., Inc.

     1,605        201,074  

General Electric Co.

     41,733        331,360  

Honeywell International, Inc.

     22,269        2,979,370  

Roper Technologies, Inc.

     1,027        320,229  
     

 

 

 
Total Industrial Conglomerates               7,852,662  
Insurance – 2.1%      

Aflac, Inc.

     23,847        816,521  

Allstate Corp. (The)

     9,578        878,590  

American Financial Group, Inc.

     2,954        207,016  

American International Group, Inc.

     34,590        838,808  

Arthur J. Gallagher & Co.

     5,952        485,148  

Assurant, Inc.

     2,089        217,444  

Brown & Brown, Inc.

     5,838        211,452  

Cincinnati Financial Corp.

     5,971        450,512  

CNA Financial Corp.

     14,831        460,354  

CNO Financial Group, Inc.

     9,991        123,789  

Erie Indemnity Co. Class A

     1,812        268,611  

Fidelity National Financial, Inc.

     13,228        329,113  

First American Financial Corp.

     5,910        250,643  

Hartford Financial Services Group, Inc. (The)

     11,955        421,294  

Kemper Corp.

     2,608      193,957  

Lincoln National Corp.

     9,598        252,619  

Marsh & McLennan Cos., Inc.

     13,161        1,137,900  

Mercury General Corp.

     5,995        244,116  

MetLife, Inc.

     50,840        1,554,179  

Old Republic International Corp.

     19,972        304,573  

Principal Financial Group, Inc.

     18,556        581,545  

ProAssurance Corp.

     4,756        118,900  

Progressive Corp. (The)

     6,057        447,249  

Prudential Financial, Inc.

     24,635        1,284,469  

Reinsurance Group of America, Inc.

     2,107        177,283  

Travelers Cos., Inc. (The)

     9,997        993,202  

Unum Group

     14,331        215,108  
     

 

 

 
Total Insurance               13,464,395  
Internet & Direct Marketing Retail – 0.2%      

eBay, Inc.

     23,457        705,118  

Expedia Group, Inc.

     2,094        117,829  

PetMed Express, Inc.(a)

     5,050        145,339  
     

 

 

 
Total Internet & Direct Marketing Retail               968,286  
IT Services – 3.0%      

Alliance Data Systems Corp.

     1,087        36,578  

Automatic Data Processing, Inc.

     14,550        1,988,694  

Booz Allen Hamilton Holding Corp.

     3,373        231,523  

Broadridge Financial Solutions, Inc.

     3,348        317,491  

Cognizant Technology Solutions Corp. Class A

     10,832        503,363  

DXC Technology Co.

     7,455        97,288  

Fidelity National Information Services, Inc.

     9,182        1,116,898  

Global Payments, Inc.

     1,801        259,758  

International Business Machines Corp.

     64,425        7,146,665  

Jack Henry & Associates, Inc.

     1,827        283,623  

KBR, Inc.

     3,489        72,153  

Leidos Holdings, Inc.

     3,063        280,724  

MasterCard, Inc. Class A

     9,105        2,199,404  

MAXIMUS, Inc.

     2,602        151,436  

Paychex, Inc.

     16,285        1,024,652  

Perspecta, Inc.

     3,787        69,075  

Science Applications International Corp.

     2,154        160,753  

Visa, Inc. Class A

     18,601        2,996,993  

Western Union Co. (The)

     18,878        342,258  
     

 

 

 
Total IT Services               19,279,329  
Leisure Products – 0.1%      

Brunswick Corp.

     2,046        72,367  

Escalade, Inc.

     8,983        53,449  

Hasbro, Inc.

     5,599        400,609  

Polaris, Inc.

     2,442        117,582  
     

 

 

 
Total Leisure Products               644,007  
Life Sciences Tools & Services – 0.1%      

Agilent Technologies, Inc.

     4,070        291,493  

Thermo Fisher Scientific, Inc.

     1,455        412,638  
     

 

 

 
Total Life Sciences Tools & Services               704,131  
Machinery – 1.7%      

Allison Transmission Holdings, Inc.

     3,632        118,440  

 

See Notes to Financial Statements.

 

96   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  

Altra Industrial Motion Corp.

     4,273      $ 74,735  

Caterpillar, Inc.

     24,301        2,819,888  

Crane Co.

     2,116        104,065  

Cummins, Inc.

     6,731        910,839  

Deere & Co.

     8,893        1,228,657  

Donaldson Co., Inc.

     3,569        137,870  

Dover Corp.

     4,260        357,584  

Flowserve Corp.

     2,232        53,322  

Fortive Corp.

     1,828        100,887  

Graco, Inc.

     4,014        195,602  

Greenbrier Cos., Inc. (The)

     3,339        59,234  

Hillenbrand, Inc.

     5,420        103,576  

IDEX Corp.

     1,888        260,752  

Illinois Tool Works, Inc.

     11,790        1,675,595  

ITT, Inc.

     1,979        89,767  

Kennametal, Inc.

     2,873        53,495  

Lincoln Electric Holdings, Inc.

     2,765        190,785  

Oshkosh Corp.

     2,213        142,362  

PACCAR, Inc.

     9,122        557,628  

Parker-Hannifin Corp.

     3,182        412,801  

Snap-on, Inc.

     2,599        282,823  

Stanley Black & Decker, Inc.

     3,752        375,200  

Terex Corp.

     3,027        43,468  

Timken Co. (The)

     3,787        122,472  

Toro Co. (The)

     2,410        156,867  

Trinity Industries, Inc.

     7,865        126,391  

Westinghouse Air Brake Technologies Corp.

     1,516        72,965  

Xylem, Inc.

     3,515        228,932  
     

 

 

 
Total Machinery

 

     11,057,002  
Media – 1.1%

 

Comcast Corp. Class A

     134,950        4,639,581  

Fox Corp. Class A

     6,056        143,103  

Fox Corp. Class B*

     6,253        143,069  

Gannett Co., Inc.(a)

     27,773        41,104  

Interpublic Group of Cos., Inc. (The)

     23,985        388,317  

John Wiley & Sons, Inc. Class A

     3,668        137,513  

Meredith Corp.(a)

     4,319        52,778  

National CineMedia, Inc.

     23,916        77,966  

News Corp. Class A

     6,229        55,905  

News Corp. Class B

     10,383        93,343  

Nexstar Media Group, Inc. Class A(a)

     1,619        93,465  

Omnicom Group, Inc.(a)

     10,661        585,289  

Sinclair Broadcast Group, Inc. Class A

     3,285        52,823  

Sirius XM Holdings, Inc.(a)

     43,507        214,925  

TEGNA, Inc.(a)

     8,444        91,702  

ViacomCBS, Inc. Class B

     22,306        312,507  
     

 

 

 
Total Media               7,123,390  
Metals & Mining – 0.4%      

Carpenter Technology Corp.

     2,190        42,705  

Cleveland-Cliffs, Inc.

     8,753        34,574  

Commercial Metals Co.

     5,188        81,919  

Compass Minerals International, Inc.

     3,875        149,071  

Newmont Corp.

     22,804        1,032,565  

Nucor Corp.

     11,914      429,142  

Reliance Steel & Aluminum Co.

     2,189        191,734  

Steel Dynamics, Inc.

     8,248        185,910  

SunCoke Energy, Inc.

     19,642        75,622  

United States Steel Corp.(a)

     13,099        82,655  
     

 

 

 
Total Metals & Mining               2,305,897  
Multi-Utilities – 2.0%      

Ameren Corp.

     10,614        773,018  

Avista Corp.

     4,999        212,407  

Black Hills Corp.

     3,627        232,237  

CenterPoint Energy, Inc.

     30,595        472,693  

CMS Energy Corp.

     10,195        598,956  

Consolidated Edison, Inc.

     17,445        1,360,710  

Dominion Energy, Inc.

     55,482        4,005,246  

DTE Energy Co.

     9,502        902,405  

MDU Resources Group, Inc.

     11,489        247,013  

NiSource, Inc.

     15,362        383,589  

NorthWestern Corp.

     3,635        217,482  

Public Service Enterprise Group, Inc.

     24,704        1,109,457  

Sempra Energy

     10,306        1,164,475  

WEC Energy Group, Inc.

     13,834        1,219,190  
     

 

 

 
Total Multi-Utilities               12,898,878  
Multiline Retail – 0.3%      

Big Lots, Inc.

     4,587        65,227  

Dollar General Corp.

     3,180        480,212  

Kohl’s Corp.

     12,273        179,063  

Target Corp.

     15,577        1,448,194  
     

 

 

 
Total Multiline Retail               2,172,696  
Oil, Gas & Consumable Fuels – 5.4%      

Amplify Energy Corp.

     20,452        11,574  

Antero Midstream Corp.(a)

     68,855        144,595  

Apache Corp.

     23,700        99,066  

Berry Corp.

     16,264        39,196  

Cabot Oil & Gas Corp.

     15,850        272,461  

Chevron Corp.

     117,067        8,482,675  

Cimarex Energy Co.

     2,775        46,703  

Concho Resources, Inc.

     1,830        78,416  

ConocoPhillips

     45,107        1,389,296  

Continental Resources, Inc.(a)

     2,753        21,033  

CVR Energy, Inc.

     11,460        189,434  

Delek U.S. Holdings, Inc.(a)

     2,922        46,051  

Devon Energy Corp.

     6,833        47,216  

Diamondback Energy, Inc.

     2,328        60,994  

EOG Resources, Inc.

     13,329        478,778  

Equitrans Midstream Corp.(a)

     40,091        201,658  

Exxon Mobil Corp.

     324,494        12,321,037  

Hess Corp.

     6,400        213,120  

HollyFrontier Corp.

     6,435        157,722  

Kinder Morgan, Inc.

     164,150        2,284,968  

Marathon Oil Corp.

     15,429        50,761  

Marathon Petroleum Corp.

     35,094        828,920  

Murphy Oil Corp.(a)

     9,080        55,660  

Noble Energy, Inc.

     14,043        84,820  

 

See Notes to Financial Statements.

 

WisdomTree Trust      97  


Table of Contents

Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  

Occidental Petroleum Corp.

     109,798      $ 1,271,461  

ONEOK, Inc.

     30,148        657,528  

Panhandle Oil and Gas, Inc. Class A

     7,112        26,243  

Parsley Energy, Inc. Class A

     5,110        29,280  

PBF Energy, Inc. Class A

     6,427        45,503  

Peabody Energy Corp.

     8,190        23,751  

Phillips 66

     21,320        1,143,818  

Pioneer Natural Resources Co.

     3,526        247,349  

SM Energy Co.

     2,788        3,401  

Targa Resources Corp.

     32,247        222,827  

Valero Energy Corp.

     23,615        1,071,176  

Williams Cos., Inc. (The)

     115,078        1,628,354  

World Fuel Services Corp.

     2,515        63,328  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     34,040,173  
Paper & Forest Products – 0.1%

 

Domtar Corp.

     5,660        122,482  

Louisiana-Pacific Corp.

     4,642        79,750  

Schweitzer-Mauduit International, Inc.

     3,656        101,710  
     

 

 

 
Total Paper & Forest Products

 

     303,942  
Personal Products – 0.1%

 

Coty, Inc. Class A

     44,273        228,449  

Estee Lauder Cos., Inc. (The) Class A

     3,087        491,883  

Medifast, Inc.

     1,355        84,687  

Nu Skin Enterprises, Inc. Class A

     3,573        78,070  
     

 

 

 
Total Personal Products

 

     883,089  
Pharmaceuticals – 6.8%

 

Bristol-Myers Squibb Co.

     102,962        5,739,102  

Eli Lilly & Co.

     31,186        4,326,122  

Johnson & Johnson

     108,346        14,207,411  

Merck & Co., Inc.

     108,528        8,350,144  

Pfizer, Inc.

     315,159        10,286,790  

Zoetis, Inc.

     4,613        542,904  
     

 

 

 
Total Pharmaceuticals

 

     43,452,473  
Professional Services – 0.2%      

Equifax, Inc.

     2,007        239,736  

Insperity, Inc.

     826        30,810  

ManpowerGroup, Inc.

     2,840        150,491  

Robert Half International, Inc.

     4,260        160,815  

TransUnion

     712        47,120  

Verisk Analytics, Inc.

     2,228        310,539  
     

 

 

 
Total Professional Services

 

     939,511  
Real Estate Management & Development – 0.0%

 

Kennedy-Wilson Holdings, Inc.

     10,351        138,910  

Newmark Group, Inc. Class A

     13,274        56,415  
     

 

 

 
Total Real Estate Management & Development

 

     195,325  
Road & Rail – 1.0%

 

CSX Corp.

     17,062        977,653  

JB Hunt Transport Services, Inc.

     1,964        181,140  

Kansas City Southern

     2,094        266,315  

Knight-Swift Transportation Holdings, Inc.(a)

     1,743        57,170  

Norfolk Southern Corp.

     7,880        1,150,480  

Ryder System, Inc.

     4,071      107,637  

Union Pacific Corp.

     23,383        3,297,938  
     

 

 

 
Total Road & Rail

 

     6,038,333  
Semiconductors & Semiconductor Equipment – 4.2%

 

Analog Devices, Inc.

     10,192        913,713  

Applied Materials, Inc.

     18,968        869,114  

Broadcom, Inc.

     19,540        4,632,934  

Cypress Semiconductor Corp.

     11,114        259,179  

Entegris, Inc.

     2,152        96,345  

Intel Corp.

     148,357        8,029,081  

KLA Corp.

     4,726        679,315  

Lam Research Corp.

     3,569        856,560  

Maxim Integrated Products, Inc.

     13,379        650,353  

Microchip Technology, Inc.(a)

     4,968        336,830  

MKS Instruments, Inc.

     835        68,011  

Monolithic Power Systems, Inc.

     995        166,623  

NVIDIA Corp.

     2,709        714,092  

QUALCOMM, Inc.

     48,965        3,312,482  

Skyworks Solutions, Inc.

     4,228        377,899  

Teradyne, Inc.

     1,555        84,234  

Texas Instruments, Inc.

     40,526        4,049,763  

Xilinx, Inc.

     5,808        452,676  

Xperi Corp.

     7,256        100,931  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     26,650,135  
Software – 4.8%

 

CDK Global, Inc.

     2,031        66,718  

Citrix Systems, Inc.

     2,721        385,158  

Intuit, Inc.

     3,447        792,810  

LogMeIn, Inc.

     1,874        156,067  

Microsoft Corp.

     155,330        24,497,094  

NortonLifeLock, Inc.

     19,896        372,254  

Oracle Corp.

     83,613        4,041,016  

SS&C Technologies Holdings, Inc.

     2,775        121,601  
     

 

 

 
Total Software

 

     30,432,718  
Specialty Retail – 2.3%      

Abercrombie & Fitch Co. Class A

     6,414        58,303  

American Eagle Outfitters, Inc.(a)

     10,456        83,125  

Bed Bath & Beyond, Inc.(a)

     8,316        35,010  

Best Buy Co., Inc.

     9,013        513,741  

Chico’s FAS, Inc.

     36,168        46,657  

Designer Brands, Inc. Class A

     11,470        57,121  

Dick’s Sporting Goods, Inc.

     2,866        60,931  

Foot Locker, Inc.

     6,447        142,156  

Gap, Inc. (The)

     31,501        221,767  

Guess?, Inc.

     4,430        29,991  

Home Depot, Inc. (The)

     42,027        7,846,861  

L Brands, Inc.

     25,788        298,109  

Lowe’s Cos., Inc.

     21,102        1,815,827  

Office Depot, Inc.

     50,151        82,248  

Penske Automotive Group, Inc.

     4,981        139,468  

Rent-A-Center, Inc.

     6,446        91,147  

Ross Stores, Inc.

     5,305        461,376  

Tiffany & Co.

     5,786        749,287  

 

See Notes to Financial Statements.

 

98   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2020

 

 

 

Investments    Shares      Value  

TJX Cos., Inc. (The)

     30,501      $ 1,458,253  

Tractor Supply Co.

     2,645        223,635  

Williams-Sonoma, Inc.

     4,160        176,883  
     

 

 

 
Total Specialty Retail

 

     14,591,896  
Technology Hardware, Storage & Peripherals – 3.6%

 

Apple, Inc.

     77,029        19,587,704  

Hewlett Packard Enterprise Co.

     56,958        553,062  

HP, Inc.

     74,318        1,290,161  

NetApp, Inc.

     10,349        431,450  

Western Digital Corp.

     16,639        692,515  

Xerox Holdings Corp.

     8,078        152,997  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     22,707,889  
Textiles, Apparel & Luxury Goods – 0.5%

 

Carter’s, Inc.

     1,595        104,840  

Columbia Sportswear Co.

     1,660        115,818  

Hanesbrands, Inc.(a)

     14,879        117,098  

Kontoor Brands, Inc.(a)

     5,872        112,566  

NIKE, Inc. Class B

     18,726        1,549,389  

Ralph Lauren Corp.

     1,574        105,191  

Steven Madden Ltd.

     3,758        87,298  

VF Corp.

     11,699        632,682  

Wolverine World Wide, Inc.

     1,776        26,995  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     2,851,877  
Thrifts & Mortgage Finance – 0.2%

 

MGIC Investment Corp.

     14,581        92,589  

New York Community Bancorp, Inc.(a)

     47,183        443,048  

TFS Financial Corp.

     27,372        417,971  
     

 

 

 
Total Thrifts & Mortgage Finance

 

     953,608  
Tobacco – 2.6%

 

Altria Group, Inc.

     184,078        7,118,296  

Philip Morris International, Inc.

     127,639        9,312,541  

Universal Corp.

     3,608        159,510  

Vector Group Ltd.

     17,154        161,591  
     

 

 

 
Total Tobacco

 

     16,751,938  
Trading Companies & Distributors – 0.3%

 

Air Lease Corp.

     2,893        64,051  

Applied Industrial Technologies, Inc.

     2,340        106,985  

Fastenal Co.

     20,055      626,719  

GATX Corp.

     1,615        101,034  

H&E Equipment Services, Inc.

     4,317        63,373  

MSC Industrial Direct Co., Inc. Class A

     3,879        213,229  

W.W. Grainger, Inc.

     1,478        367,283  

Watsco, Inc.(a)

     2,208        348,930  
     

 

 

 
Total Trading Companies & Distributors

 

     1,891,604  
Transportation Infrastructure – 0.1%

 

Macquarie Infrastructure Corp.

     13,911        351,253  
Water Utilities – 0.1%

 

American Water Works Co., Inc.

     4,970        594,213  

Essential Utilities, Inc.

     7,789        317,013  
     

 

 

 
Total Water Utilities

 

     911,226  
Wireless Telecommunication Services – 0.0%

 

Telephone & Data Systems, Inc.

     5,008        83,934  

TOTAL COMMON STOCKS

(Cost: $669,693,768)

 

 

     633,299,491  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.4%

 

United States – 0.4%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(b)

 

  
(Cost: $2,724,752)      2,724,752        2,724,752  

TOTAL INVESTMENTS IN SECURITIES – 100.2%

(Cost: $672,418,520)

 

 

     636,024,243  

Other Assets less Liabilities – (0.2)%

 

     (1,068,119
     

 

 

 
NET ASSETS – 100.0%

 

   $ 634,956,124  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $6,357,510 and the total market value of the collateral held by the Fund was $6,605,172. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $3,880,420.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree U.S. Total Market Fund^

  $ 1,355,082     $ 9,249,359     $ 10,298,639     $ (240,094   $ (65,708   $     $ 25,449  

 

^ 

As of March 31, 2020, the Fund did not hold a position in this affiliate.

 

See Notes to Financial Statements.

 

WisdomTree Trust      99  


Table of Contents

Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2020

 

 

 

     

WisdomTree
U.S. Dividend
ex-Financials

Fund

     WisdomTree
U.S. ESG Fund
    

WisdomTree

U.S. High

Dividend Fund

    

WisdomTree

U.S. LargeCap

Dividend Fund

    

WisdomTree
U.S. LargeCap

Fund

 

ASSETS:

              

Investments, at cost

   $ 694,771,976      $ 73,370,920      $ 844,507,688      $ 1,870,043,745      $ 395,195,423  

Investment in affiliates, at cost (Note 3)

     1,534,632               2,650,662        7,083,067        562,731  

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

     541,562,170        73,069,281        678,441,360        1,845,833,003        341,158,302  

Investment in affiliates, at value (Note 3)

     1,174,518               3,007,801        5,486,081        513,645  

Cash

     1,052,963        99,171        709,667        1,366,549        195,352  

Receivables:

 

Investment securities sold

                   4,112,014        840,258         

Capital shares sold

                          12,218,627         

Dividends

     2,401,042        84,609        1,956,374        3,436,310        413,585  

Securities lending income

     3,061        434        3,598        4,725        367  

Total Assets

     546,193,754        73,253,495        688,230,814        1,869,185,553        342,281,251  

LIABILITIES:

 

Payables:

              

Cash collateral received for securities loaned (Note 2)

     1,975,042        322,107        4,030,316        5,974,959        585,507  

Investment securities purchased

     1,013,639        88,835        2,191,318        13,042,380        247,788  

Capital shares redeemed

                   2,828,893                

Advisory fees (Note 3)

     192,374        18,173        242,352        467,662        23,946  

Service fees (Note 2)

     2,207        286        2,763        7,303        1,306  

Total Liabilities

     3,183,262        429,401        9,295,642        19,492,304        858,547  

NET ASSETS

   $ 543,010,492      $ 72,824,094      $ 678,935,172      $ 1,849,693,249      $ 341,422,704  

NET ASSETS:

              

Paid-in capital

   $ 754,960,304      $ 83,279,505      $ 913,918,190      $ 1,957,493,012      $ 405,042,529  

Total distributable earnings (loss)

     (211,949,812      (10,455,411      (234,983,018      (107,799,763      (63,619,825

NET ASSETS

   $ 543,010,492      $ 72,824,094      $ 678,935,172      $ 1,849,693,249      $ 341,422,704  

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

     8,400,000        2,650,000        12,000,000        22,850,000        12,150,000  

Net asset value per share

   $ 64.64      $ 27.48      $ 56.58      $ 80.95      $ 28.10  

1 Includes market value of securities out on loan of:

   $ 11,353,588      $ 1,406,719      $ 7,407,903      $ 22,452,798      $ 2,770,983  

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

  

  

 

See Notes to Financial Statements.

 

100   WisdomTree Trust


Table of Contents

Statements of Assets and Liabilities (continued)

WisdomTree Trust

March 31, 2020

 

 

 

      WisdomTree
U.S. MidCap
Dividend Fund
     WisdomTree
U.S. MidCap
Fund
     WisdomTree
U.S. Multifactor
Fund
     WisdomTree
U.S. Quality
Dividend
Growth Fund
     WisdomTree
U.S. Quality
Shareholder
Yield Fund
 

ASSETS:

              

Investments, at cost

   $ 3,524,272,734      $ 841,060,545      $ 165,611,286      $ 2,828,855,575      $ 77,655,072  

Investment in affiliates, at cost (Note 3)

     8,846,583        1,110,594                       

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

     2,673,562,921        607,586,020        143,480,621        2,718,605,069        61,954,049  

Investment in affiliates, at value (Note 3)

     8,731,483        821,392                       

Cash

     4,775,686        631,325        172,681        8,318,657        50,554  

Receivables:

 

Investment securities sold

     38,599,246        16,124,232               6,376,130         

Capital shares sold

                          31,329,801         

Dividends

     8,499,870        1,211,514        165,401        4,360,010        81,642  

Securities lending income

     94,691        30,239        2,806        2,879        104  

Total Assets

     2,734,263,897        626,404,722        143,821,509        2,768,992,546        62,086,349  

LIABILITIES:

 

Payables:

              

Cash collateral received for securities loaned (Note 2)

     202,305,185        48,722,575        2,475,192        2,441,228        277,007  

Investment securities purchased

     31,025,451        2,140,414               26,609,356         

Capital shares redeemed

     14,712,371        14,694,622               15,789,242         

Advisory fees (Note 3)

     949,016        235,681        38,104        659,461        14,425  

Service fees (Note 2)

     10,844        2,706        599        10,363        167  

Total Liabilities

     249,002,867        65,795,998        2,513,895        45,509,650        291,599  

NET ASSETS

   $ 2,485,261,030      $ 560,608,724      $ 141,307,614      $ 2,723,482,896      $ 61,794,750  

NET ASSETS:

              

Paid-in capital

   $ 3,591,939,637      $ 903,351,236      $ 189,466,904      $ 2,990,184,153      $ 80,233,561  

Total distributable earnings (loss)

     (1,106,678,607      (342,742,512      (48,159,290      (266,701,257      (18,438,811

NET ASSETS

   $ 2,485,261,030      $ 560,608,724      $ 141,307,614      $ 2,723,482,896      $ 61,794,750  

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

     102,750,000        21,200,000        5,750,000        70,100,000        950,000  

Net asset value per share

   $ 24.19      $ 26.44      $ 24.58      $ 38.85      $ 65.05  

1 Includes market value of securities out on loan of:

   $ 418,633,447      $ 92,522,264      $ 2,849,016      $ 16,863,346      $ 787,006  

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

  

  

 

See Notes to Financial Statements.

 

WisdomTree Trust      101  


Table of Contents

Statements of Assets and Liabilities (concluded)

WisdomTree Trust

March 31, 2020

 

 

 

      WisdomTree
U.S. SmallCap
Dividend Fund
     WisdomTree
U.S. SmallCap
Fund
     WisdomTree
U.S. SmallCap
Quality Dividend
Growth Fund
     WisdomTree
U.S. Total
Dividend Fund
 

ASSETS:

           

Investments, at cost

   $ 1,989,532,344      $ 705,483,373      $ 104,942,707      $ 672,418,520  

Investment in affiliates, at cost (Note 3)

     2,368,199        231,390                

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

     1,415,226,198        444,372,945        76,248,195        636,024,243  

Investment in affiliates, at value (Note 3)

     2,449,921        165,336                

Cash

     1,474,642        219,274        6,676        354,978  

Receivables:

 

Investment securities sold

     4,550,391        12,753        1,248,377        851,930  

Dividends

     4,309,032        476,228        163,354        1,370,631  

Securities lending income

     168,798        114,825        1,120        3,495  

Total Assets

     1,428,178,982        445,361,361        77,667,722        638,605,277  

LIABILITIES:

 

Payables:

           

Cash collateral received for securities loaned (Note 2)

     105,530,795        25,526,651        2,584,671        2,724,752  

Investment securities purchased

     5,243,098                      760,899  

Capital shares redeemed

                   1,250,889         

Advisory fees (Note 3)

     480,446        156,712        29,339        160,985  

Service fees (Note 2)

     5,517        1,811        339        2,517  

Total Liabilities

     111,259,856        25,685,174        3,865,238        3,649,153  

NET ASSETS

   $ 1,316,919,126      $ 419,676,187      $ 73,802,484      $ 634,956,124  

NET ASSETS:

           

Paid-in capital

   $ 2,128,921,747      $ 744,322,306      $ 121,861,200      $ 702,754,299  

Total distributable earnings (loss)

     (812,002,621      (324,646,119      (48,058,716      (67,798,175

NET ASSETS

   $ 1,316,919,126      $ 419,676,187      $ 73,802,484      $ 634,956,124  

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

     72,700,000        18,750,000        2,950,000        8,100,000  

Net asset value per share

   $ 18.11      $ 22.38      $ 25.02      $ 78.39  

1 Includes market value of securities out on loan of:

   $ 191,957,417      $ 60,228,165      $ 3,566,234      $ 6,357,510  

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

  

 

See Notes to Financial Statements.

 

102   WisdomTree Trust


Table of Contents

Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

     

WisdomTree
U.S. Dividend
ex-Financials

Fund

     WisdomTree
U.S. ESG Fund
     WisdomTree
U.S. High
Dividend Fund
     WisdomTree
U.S. LargeCap
Dividend Fund
     WisdomTree
U.S. LargeCap
Fund
 

INVESTMENT INCOME:

              

Dividends1

   $ 30,999,589      $ 2,050,744      $ 37,230,892      $ 66,241,845      $ 7,131,637  

Dividends from affiliates (Note 3)

     109,256               135,685        181,733        44,179  

Non-cash dividends

                   2,113                

Securities lending income (Note 2)

     28,260        5,344        65,816        84,811        4,330  

Total investment income

     31,137,105        2,056,088        37,434,506        66,508,389        7,180,146  

EXPENSES:

 

Advisory fees (Note 3)

     2,960,212        263,732        3,542,142        6,119,682        255,957  

Service fees (Note 2)

     34,275        4,145        41,015        96,166        14,078  

Total expenses

     2,994,487        267,877        3,583,157        6,215,848        270,035  

Expense waivers (Note 3)

     (6,149             (7,318      (9,779      (186

Net expenses

     2,988,338        267,877        3,575,839        6,206,069        269,849  

Net investment income

     28,148,767        1,788,211        33,858,667        60,302,320        6,910,297  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

              

Investment transactions

     (23,514,419      (5,577,443      (48,772,724      (49,582,071      (4,599,700

Investment transactions in affiliates (Note 3)

     267,856               952,976        929,626        (20,010

In-kind redemptions

     59,221,374        9,875,179        56,979,648        108,531,495        34,307,842  

Futures contracts

            (3,107                     

Net realized gain

     35,974,811        4,294,629        9,159,900        59,879,050        29,688,132  

Net increase (decrease) in unrealized appreciation/depreciation:

              

Investment transactions

     (213,048,766      (17,129,564      (206,047,362      (374,545,188      (87,630,296

Investment transactions in affiliates (Note 3)

     (586,346             (212,530      (1,866,191      (101,947

Net decrease in unrealized appreciation/depreciation

     (213,635,112      (17,129,564      (206,259,892      (376,411,379      (87,732,243

Net realized and unrealized loss on investments

     (177,660,301      (12,834,935      (197,099,992      (316,532,329      (58,044,111

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (149,511,534    $ (11,046,724    $ (163,241,325    $ (256,230,009    $ (51,133,814

1 Net of foreign withholding tax of:

          $ 47                       

 

See Notes to Financial Statements.

 

WisdomTree Trust      103  


Table of Contents

Statements of Operations (continued)

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

      WisdomTree
U.S. MidCap
Dividend Fund
     WisdomTree
U.S. MidCap
Fund
     WisdomTree
U.S. Multifactor
Fund
     WisdomTree
U.S. Quality
Dividend
Growth Fund
     WisdomTree
U.S. Quality
Shareholder
Yield Fund
 

INVESTMENT INCOME:

              

Dividends1

   $ 122,304,287      $ 20,848,088      $ 3,185,348      $ 79,356,239      $ 972,648  

Dividends from affiliates (Note 3)

     419,203        114,115        3,290                

Non-cash dividends

     382,931        213,383                       

Securities lending income (Note 2)

     1,269,949        242,176        13,829        139,662        917  

Total investment income

     124,376,370        21,417,762        3,202,467        79,495,901        973,565  

EXPENSES:

 

Advisory fees (Note 3)

     14,674,394        4,140,944        403,330        8,212,548        173,591  

Service fees (Note 2)

     169,914        47,948        6,338        129,054        2,010  

Total expenses

     14,844,308        4,188,892        409,668        8,341,602        175,601  

Expense waivers (Note 3)

     (30,762      (6,644      (160              

Net expenses

     14,813,546        4,182,248        409,508        8,341,602        175,601  

Net investment income

     109,562,824        17,235,514        2,792,959        71,154,299        797,964  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

              

Investment transactions

     (147,139,340      (1,905,050      (14,560,849      (76,248,100      (328,048

Investment transactions in affiliates (Note 3)

     2,761,273        (349,239      8,648                

In-kind redemptions

     112,319,008        58,329,902        5,569,472        271,105,999        5,630,724  

Futures contracts

                   36,331                

Net realized gain (loss)

     (32,059,059      56,075,613        (8,946,398      194,857,899        5,302,676  

Net increase (decrease) in unrealized appreciation/depreciation:

              

Investment transactions

     (1,236,866,965      (378,746,747      (24,714,385      (512,627,235      (18,790,022

Investment transactions in affiliates (Note 3)

     (1,707,838      (473,144                     

Net decrease in unrealized appreciation/depreciation

     (1,238,574,803      (379,219,891      (24,714,385      (512,627,235      (18,790,022

Net realized and unrealized loss on investments

     (1,270,633,862      (323,144,278      (33,660,783      (317,769,336      (13,487,346

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (1,161,071,038    $ (305,908,764    $ (30,867,824    $ (246,615,037    $ (12,689,382

1 Net of foreign withholding tax of:

   $ 11,518      $ 5,092                       

 

See Notes to Financial Statements.

 

104   WisdomTree Trust


Table of Contents

Statements of Operations (concluded)

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

      WisdomTree
U.S. SmallCap
Dividend Fund
    

WisdomTree
U.S. SmallCap

Fund

     WisdomTree
U.S. SmallCap
Quality Dividend
Growth Fund
    

WisdomTree

U.S. Total

Dividend Fund

 

INVESTMENT INCOME:

           

Dividends1

   $ 65,684,159      $ 12,847,735      $ 3,170,840      $ 22,502,719  

Dividends from affiliates (Note 3)

     153,298        38,915               25,449  

Non-cash dividends

     286,646        1,341               27,470  

Securities lending income (Note 2)

     1,863,560        920,298        14,737        54,549  

Total investment income

     67,987,663        13,808,289        3,185,577        22,610,187  

EXPENSES:

 

Advisory fees (Note 3)

     7,776,962        2,867,079        452,583        2,042,234  

Service fees (Note 2)

     90,049        33,197        5,240        32,092  

Total expenses

     7,867,011        2,900,276        457,823        2,074,326  

Expense waivers (Note 3)

     (3,370      (1,105             (1,222

Net expenses

     7,863,641        2,899,171        457,823        2,073,104  

Net investment income

     60,124,022        10,909,118        2,727,754        20,537,083  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

           

Investment transactions

     (123,728,861      5,066,236        (606,376      (19,396,441

Investment transactions in affiliates (Note 3)

     1,623,269        (170,862             (240,094

In-kind redemptions

     13,781,807        54,140,967        3,646,011        52,217,504  

Net realized gain (loss)

     (108,323,785      59,036,341        3,039,635        32,580,969  

Net increase (decrease) in unrealized appreciation/depreciation:

           

Investment transactions

     (601,919,656      (329,628,779      (37,054,338      (174,484,936

Investment transactions in affiliates (Note 3)

     (885,668      (63,855             (65,708

Net decrease in unrealized appreciation/depreciation

     (602,805,324      (329,692,634      (37,054,338      (174,550,644

Net realized and unrealized loss on investments

     (711,129,109      (270,656,293      (34,014,703      (141,969,675

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (651,005,087    $ (259,747,175    $ (31,286,949    $ (121,432,592

1 Net of foreign withholding tax of:

   $ 2,793      $ 2,557      $ 388      $ 179  

 

See Notes to Financial Statements.

 

WisdomTree Trust      105  


Table of Contents

Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

     

WisdomTree

U.S. Dividend ex-Financials Fund

    

WisdomTree

U.S. ESG Fund

    

WisdomTree

U.S. High Dividend Fund

 
      For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

        

Net investment income

   $ 28,148,767      $ 28,459,541      $ 1,788,211      $ 1,492,840      $ 33,858,667      $ 33,702,169  

Net realized gain (loss) on investments and futures contracts

     35,974,811        (9,263,640      4,294,629        (1,032,702      9,159,900        18,061,856  

Net increase (decrease) in unrealized appreciation/depreciation on investments

     (213,635,112      17,633,990        (17,129,564      4,233,368        (206,259,892      40,659,909  

Net increase (decrease) in net assets resulting from operations

     (149,511,534      36,829,891        (11,046,724      4,693,506        (163,241,325      92,423,934  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (28,605,928      (27,973,156      (2,196,268      (1,733,962      (35,182,638      (32,229,868

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     140,488,671        97,756,088        5,285,033        51,103,813        164,506,928        166,962,552  

Cost of shares redeemed

     (210,429,585      (126,053,661      (32,243,023      (10,984,580      (240,423,491      (309,176,101

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

     (69,940,914      (28,297,573      (26,957,990      40,119,233        (75,916,563      (142,213,549

Net Increase (Decrease) in Net Assets

     (248,058,376      (19,440,838      (40,200,982      43,078,777        (274,340,526      (82,019,483

NET ASSETS:

 

Beginning of year

   $ 791,068,868      $ 810,509,706      $ 113,025,076      $ 69,946,299      $ 953,275,698      $ 1,035,295,181  

End of year

   $ 543,010,492      $ 791,068,868      $ 72,824,094      $ 113,025,076      $ 678,935,172      $ 953,275,698  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     9,250,000        9,600,000        3,500,000        2,250,000        13,150,000        15,200,000  

Shares created

     1,550,000        1,250,000        150,000        1,600,000        2,150,000        2,500,000  

Shares redeemed

     (2,400,000      (1,600,000      (1,000,000      (350,000      (3,300,000      (4,550,000

Shares outstanding, end of year

     8,400,000        9,250,000        2,650,000        3,500,000        12,000,000        13,150,000  

 

See Notes to Financial Statements.

 

106   WisdomTree Trust


Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

    

WisdomTree

U.S. LargeCap Dividend Fund

   

WisdomTree

U.S. LargeCap Fund

   

WisdomTree

U.S. MidCap Dividend Fund

 
     For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 60,302,320     $ 54,897,223     $ 6,910,297     $ 4,105,179     $ 109,562,824     $ 77,627,387  

Net realized gain (loss) on investments

    59,879,050       52,140,960       29,688,132       7,825,960       (32,059,059     (303,975

Net increase (decrease) in unrealized appreciation/depreciation on investments

    (376,411,379     78,059,509       (87,732,243     1,152,048       (1,238,574,803     148,961,939  

Net increase (decrease) in net assets resulting from operations

    (256,230,009     185,097,692       (51,133,814     13,083,187       (1,161,071,038     226,285,351  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (60,470,137     (53,410,696     (6,827,555     (4,134,218     (110,075,200     (73,682,291

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    419,731,501       234,835,743       259,529,873       84,643,974       582,755,620       840,413,736  

Cost of shares redeemed

    (288,303,455     (265,109,065     (99,996,954     (38,554,537     (560,031,039     (323,811,148

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

    131,428,046       (30,273,322     159,532,919       46,089,437       22,724,581       516,602,588  

Net Increase (Decrease) in Net Assets

    (185,272,100     101,413,674       101,571,550       55,038,406       (1,248,421,657     669,205,648  

NET ASSETS:

 

Beginning of year

  $ 2,034,965,349     $ 1,933,551,675     $ 239,851,154     $ 184,812,748     $ 3,733,682,687     $ 3,064,477,039  

End of year

  $ 1,849,693,249     $ 2,034,965,349     $ 341,422,704     $ 239,851,154     $ 2,485,261,030     $ 3,733,682,687  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    21,600,000       21,850,000       7,550,000       6,100,000       104,400,000       89,850,000  

Shares created

    4,300,000       2,750,000       7,500,000       2,800,000       15,700,000       24,500,000  

Shares redeemed

    (3,050,000     (3,000,000     (2,900,000     (1,350,000     (17,350,000     (9,950,000

Shares outstanding, end of year

    22,850,000       21,600,000       12,150,000       7,550,000       102,750,000       104,400,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      107  


Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

    

WisdomTree

U.S. MidCap Fund

   

WisdomTree

U.S. Multifactor Fund

   

WisdomTree

U.S. Quality Dividend Growth Fund

 
     For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 17,235,514     $ 14,693,427     $ 2,792,959     $ 959,562     $ 71,154,299     $ 54,709,740  

Net realized gain (loss) on investments and futures contracts

    56,075,613       (45,427,404     (8,946,398     (11,426,428     194,857,899       (52,868,008

Net increase (decrease) in unrealized appreciation/depreciation on investments

    (379,219,891     55,470,241       (24,714,385     2,506,832       (512,627,235     211,580,499  

Net increase (decrease) in net assets resulting from operations

    (305,908,764     24,736,264       (30,867,824     (7,960,034     (246,615,037     213,422,231  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (17,560,711     (15,362,214     (2,826,270     (905,199     (69,826,053     (54,505,786

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    151,208,990       223,804,927       133,661,678       204,488,667       1,106,195,913       813,059,228  

Cost of shares redeemed

    (365,442,227     (170,031,971     (73,140,625     (86,725,156     (846,633,303     (255,919,617

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

    (214,233,237     53,772,956       60,521,053       117,763,511       259,562,610       557,139,611  

Net Increase (Decrease) in Net Assets

    (537,702,712     63,147,006       26,826,959       108,898,278       (56,878,480     716,056,056  

NET ASSETS:

 

Beginning of year

  $ 1,098,311,436     $ 1,035,164,430     $ 114,480,655     $ 5,582,377     $ 2,780,361,376     $ 2,064,305,320  

End of year

  $ 560,608,724     $ 1,098,311,436     $ 141,307,614     $ 114,480,655     $ 2,723,482,896     $ 2,780,361,376  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    27,950,000       26,800,000       3,950,000       200,000       64,600,000       51,200,000  

Shares created

    3,750,000       6,000,000       4,350,000       6,900,000       23,950,000       20,200,000  

Shares redeemed

    (10,500,000     (4,850,000     (2,550,000     (3,150,000     (18,450,000     (6,800,000

Shares outstanding, end of year

    21,200,000       27,950,000       5,750,000       3,950,000       70,100,000       64,600,000  

 

See Notes to Financial Statements.

 

108   WisdomTree Trust


Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

     

WisdomTree

U.S. Quality Shareholder Yield Fund

    

WisdomTree

U.S. SmallCap Dividend Fund

    

WisdomTree

U.S. SmallCap Fund

 
      For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

        

Net investment income

   $ 797,964      $ 667,735      $ 60,124,022      $ 60,197,738      $ 10,909,118      $ 10,917,123  

Net realized gain (loss) on investments

     5,302,676        (461,016      (108,323,785      (25,799,382      59,036,341        (20,905,486

Net increase (decrease) in unrealized appreciation/depreciation on investments

     (18,790,022      2,272,056        (602,805,324      19,992,593        (329,692,634      17,632,066  

Net increase (decrease) in net assets resulting from operations

     (12,689,382      2,478,775        (651,005,087      54,390,949        (259,747,175      7,643,703  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (764,994      (676,737      (63,284,313      (57,474,162      (11,592,685      (10,921,376

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     60,365,127        7,819,793        97,117,312        224,869,870        185,877,974        235,765,480  

Cost of shares redeemed

     (23,228,928      (15,975,374      (153,613,825      (99,358,936      (230,959,748      (85,389,190

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

     37,136,199        (8,155,581      (56,496,513      125,510,934        (45,081,774      150,376,290  

Net Increase (Decrease) in Net Assets

     23,681,823        (6,353,543      (770,785,913      122,427,721        (316,421,634      147,098,617  

NET ASSETS:

 

Beginning of year

   $ 38,112,927      $ 44,466,470      $ 2,087,705,039      $ 1,965,277,318      $ 736,097,821      $ 588,999,204  

End of year

   $ 61,794,750      $ 38,112,927      $ 1,316,919,126      $ 2,087,705,039      $ 419,676,187      $ 736,097,821  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     450,000        550,000        75,800,000        71,650,000        20,400,000        16,500,000  

Shares created

     750,000        100,000        3,550,000        7,800,000        5,000,000        6,500,000  

Shares redeemed

     (250,000      (200,000      (6,650,000      (3,650,000      (6,650,000      (2,600,000

Shares outstanding, end of year

     950,000        450,000        72,700,000        75,800,000        18,750,000        20,400,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      109  


Table of Contents

Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

     

WisdomTree

U.S. SmallCap Quality

Dividend Growth Fund

    

WisdomTree

U.S. Total Dividend Fund

 
      For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 2,727,754      $ 2,754,660      $ 20,537,083      $ 16,841,431  

Net realized gain (loss) on investments

     3,039,635        (6,993,104      32,580,969        6,393,021  

Net increase (decrease) in unrealized appreciation/depreciation on investments

     (37,054,338      7,710,228        (174,550,644      29,242,553  

Net increase (decrease) in net assets resulting from operations

     (31,286,949      3,471,784        (121,432,592      52,477,005  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (2,702,894      (2,704,131      (20,435,251      (16,303,635

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     20,559,883        53,170,662        244,794,844        76,547,498  

Cost of shares redeemed

     (32,466,875      (35,299,166      (116,073,986      (43,849,267

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

     (11,906,992      17,871,496        128,720,858        32,698,231  

Net Increase (Decrease) in Net Assets

     (45,896,835      18,639,149        (13,146,985      68,871,601  

NET ASSETS:

 

Beginning of year

   $ 119,699,319      $ 101,060,170      $ 648,103,109      $ 579,231,508  

End of year

   $ 73,802,484      $ 119,699,319      $ 634,956,124      $ 648,103,109  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     3,450,000        2,950,000        6,850,000        6,500,000  

Shares created

     550,000        1,600,000        2,400,000        850,000  

Shares redeemed

     (1,050,000      (1,100,000      (1,150,000      (500,000

Shares outstanding, end of year

     2,950,000        3,450,000        8,100,000        6,850,000  

 

See Notes to Financial Statements.

 

110   WisdomTree Trust


Table of Contents

Financial Highlights

WisdomTree Trust

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

 

 

WisdomTree U.S. Dividend
ex-Financials Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 85.52      $ 84.43      $ 82.50      $ 75.41      $ 75.82  

Investment operations:

 

Net investment income1

     3.11        3.06        2.73        2.52        2.46  

Net realized and unrealized gain (loss)

     (20.83      1.05        1.96        7.31        (0.38

Total from investment operations

     (17.72      4.11        4.69        9.83        2.08  

Dividends and distributions to shareholders:

 

Net investment income

     (3.16      (2.96      (2.76      (2.69      (2.49

Capital gains

            (0.06                     

Tax return of capital

                          (0.05       

Total dividends and distributions to shareholders

     (3.16      (3.02      (2.76      (2.74      (2.49

Net asset value, end of year

   $ 64.64      $ 85.52      $ 84.43      $ 82.50      $ 75.41  

TOTAL RETURN2

     (21.49 )%       4.99      5.71      13.27      2.96

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 543,010      $ 791,069      $ 810,510      $ 903,352      $ 916,193  

Ratios to average net assets3 of:

 

Expenses4

     0.38      0.38      0.38      0.38      0.38

Net investment income

     3.61      3.57      3.22      3.21      3.39

Portfolio turnover rate5

     46      32      34      33      32

 

           
WisdomTree U.S. ESG Fund    For the
Year Ended
March 31, 20206
     For the
Year Ended
March 31, 20196
     For the
Year Ended
March 31, 20186,7
     For the
Year Ended
March 31, 20176,7
     For the
Year Ended
March 31, 20166,7
 

Net asset value, beginning of year

   $ 32.29      $ 31.09      $ 27.89      $ 23.83      $ 24.65  

Investment operations:

 

Net investment income1

     0.64        0.60        0.53        0.48        0.48  

Net realized and unrealized gain (loss)

     (4.62      1.29        3.17        4.10        (0.78

Total from investment operations

     (3.98      1.89        3.70        4.58        (0.30

Dividends and distributions to shareholders:

 

Net investment income

     (0.83      (0.69      (0.50      (0.51      (0.52

Tax return of capital

                          (0.01       

Total dividends and distributions to shareholders

     (0.83      (0.69      (0.50      (0.52      (0.52

Net asset value, end of year

   $ 27.48      $ 32.29      $ 31.09      $ 27.89      $ 23.83  

TOTAL RETURN2

     (12.73 )%       6.34      13.31      19.39      (1.18 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 72,824      $ 113,025      $ 69,946      $ 62,755      $ 57,204  

Ratios to average net assets of:

 

Expenses

     0.28      0.28      0.28      0.28      0.28

Net investment income

     1.90      1.89      1.75      1.87      2.00

Portfolio turnover rate5

     56      22      22      19      12
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

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

 

6 

The information reflects the investment objective and strategy of the WisdomTree U.S. Total Market Fund through March 16, 2020 and the investment objective and strategy of the WisdomTree U.S. ESG Fund thereafter.

 

7 

Per share amounts were adjusted to reflect a 3:1 stock split effective November 10, 2017.

 

See Notes to Financial Statements.

 

WisdomTree Trust      111  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree U.S. High
Dividend Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 72.49      $ 68.11      $ 68.48      $ 63.29      $ 60.74  

Investment operations:

 

Net investment income1

     2.65        2.49        2.21        2.10        2.10  

Net realized and unrealized gain (loss)

     (15.81      4.28        (0.34      5.39        2.50  

Total from investment operations

     (13.16      6.77        1.87        7.49        4.60  

Dividends to shareholders:

 

Net investment income

     (2.75      (2.39      (2.24      (2.30      (2.05

Net asset value, end of year

   $ 56.58      $ 72.49      $ 68.11      $ 68.48      $ 63.29  

TOTAL RETURN2

     (18.99 )%       10.15      2.69      12.02      7.88

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 678,935      $ 953,276      $ 1,035,295      $ 1,263,368      $ 1,025,362  

Ratios to average net assets3 of:

 

Expenses4

     0.38      0.38      0.38 %5       0.38 %5       0.38 %5 

Net investment income

     3.63      3.55      3.17      3.17      3.53

Portfolio turnover rate6

     39      20      17      23      20

 

           
WisdomTree U.S. LargeCap
Dividend Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 94.21      $ 88.49      $ 82.92      $ 73.42      $ 73.27  

Investment operations:

 

Net investment income1

     2.72        2.54        2.22        2.04        2.01  

Net realized and unrealized gain (loss)

     (13.27      5.66        5.57        9.63        0.13  

Total from investment operations

     (10.55      8.20        7.79        11.67        2.14  

Dividends to shareholders:

 

Net investment income

     (2.71      (2.48      (2.22      (2.17      (1.99

Net asset value, end of year

   $ 80.95      $ 94.21      $ 88.49      $ 82.92      $ 73.42  

TOTAL RETURN2

     (11.62 )%       9.44      9.44      16.13      3.04

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 1,849,693      $ 2,034,965      $ 1,933,552      $ 1,940,332      $ 1,725,259  

Ratios to average net assets3 of:

 

Expenses4

     0.28      0.28      0.28      0.28      0.28

Net investment income

     2.76      2.79      2.54      2.63      2.81

Portfolio turnover rate6

     13      11      10      11      11
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

Included in the expense ratio are legal expenses. Without these legal expenses, the annualized expense ratio would have been unchanged.

 

6 

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

 

See Notes to Financial Statements.

 

112   WisdomTree Trust


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree U.S. LargeCap Fund    For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 20181
     For the
Year Ended
March 31, 20171
     For the
Year Ended
March 31, 20161
 

Net asset value, beginning of year

   $ 31.77      $ 30.30      $ 27.14      $ 23.22      $ 23.83  

Investment operations:

 

Net investment income2

     0.73        0.60        0.53        0.48        0.49  

Net realized and unrealized gain (loss)

     (3.72      1.46        3.11        3.95        (0.60

Total from investment operations

     (2.99      2.06        3.64        4.43        (0.11

Dividends to shareholders:

 

Net investment income

     (0.68      (0.59      (0.48      (0.51      (0.50

Net asset value, end of year

   $ 28.10      $ 31.77      $ 30.30      $ 27.14      $ 23.22  

TOTAL RETURN3

     (9.65 )%       6.93      13.49      19.31      (0.45 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 341,423      $ 239,851      $ 184,813      $ 130,254      $ 118,412  

Ratios to average net assets4 of:

 

Expenses

     0.08 %5       0.28 %5       0.28 %5       0.28      0.28 %5 

Net investment income

     2.16      1.94      1.80      1.94      2.11

Portfolio turnover rate6

     22      14      17      19      18

 

           
WisdomTree U.S. MidCap
Dividend Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 20181
     For the
Year Ended
March 31, 20171
     For the
Year Ended
March 31, 20161
 

Net asset value, beginning of year

   $ 35.76      $ 34.11      $ 32.50      $ 28.69      $ 28.68  

Investment operations:

 

Net investment income2

     1.01        0.82        0.76        0.78        0.71  

Net realized and unrealized gain (loss)

     (11.56      1.61        1.59        3.89        0.08  

Total from investment operations

     (10.55      2.43        2.35        4.67        0.79  

Dividends and distributions to shareholders:

 

Net investment income

     (1.02      (0.78      (0.74      (0.86      (0.68

Capital gains

                                 (0.10

Total dividends and distributions to shareholders

     (1.02      (0.78      (0.74      (0.86      (0.78

Net asset value, end of year

   $ 24.19      $ 35.76      $ 34.11      $ 32.50      $ 28.69  

TOTAL RETURN3

     (30.28 )%       7.21      7.30      16.52      2.98

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 2,485,261      $ 3,733,683      $ 3,064,477      $ 2,822,559      $ 1,609,484  

Ratios to average net assets4 of:

 

Expenses5

     0.38      0.38      0.38 %7       0.38 %7       0.38

Net investment income

     2.84      2.34      2.26      2.56      2.60

Portfolio turnover rate6

     33      27      27      33      32
1 

Per share amounts were adjusted to reflect a 3:1 stock split effective November 10, 2017.

 

2 

Based on average shares outstanding.

 

3 

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

 

4 

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

 

5 

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

 

6 

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

 

7 

Included in the expense ratio are legal expenses. Without these legal expenses, the annualized expense ratio would have been unchanged.

 

See Notes to Financial Statements.

 

WisdomTree Trust      113  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree U.S. MidCap Fund    For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 20171
     For the
Year Ended
March 31, 20161
 

Net asset value, beginning of year

   $ 39.30      $ 38.63      $ 35.25      $ 30.07      $ 32.14  

Investment operations:

 

Net investment income2

     0.62        0.53        0.47        0.50        0.40  

Net realized and unrealized gain (loss)

     (12.83      0.68        3.32        5.25        (2.10

Total from investment operations

     (12.21      1.21        3.79        5.75        (1.70

Dividends and distributions to shareholders:

 

Net investment income

     (0.65      (0.54      (0.41      (0.54      (0.37

Tax return of capital

                          (0.03       

Total dividends and distributions to shareholders

     (0.65      (0.54      (0.41      (0.57      (0.37

Net asset value, end of year

   $ 26.44      $ 39.30      $ 38.63      $ 35.25      $ 30.07  

TOTAL RETURN3

     (31.45 )%       3.22      10.77 %4       19.31      (5.29 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 560,609      $ 1,098,311      $ 1,035,164      $ 794,832      $ 662,944  

Ratios to average net assets5 of:

 

Expenses6

     0.38      0.38      0.38      0.38      0.38

Net investment income

     1.58      1.34      1.25      1.54      1.32

Portfolio turnover rate7

     41      36      45      42      40

 

           
WisdomTree U.S. Multifactor Fund                    For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the Period
June 29, 2017*
through
March 31, 2018
 

Net asset value, beginning of period

                     $ 28.98      $ 27.91      $ 24.75  

Investment operations:

 

Net investment income2

           0.59        0.47        0.34  

Net realized and unrealized gain (loss)

                       (4.43      0.97        3.09  

Total from investment operations

                       (3.84      1.44        3.43  

Dividends to shareholders:

 

Net investment income

                       (0.56      (0.37      (0.27

Net asset value, end of period

                     $ 24.58      $ 28.98      $ 27.91  

TOTAL RETURN3

                       (13.43 )%       5.25      13.90

RATIOS/SUPPLEMENTAL DATA:

 

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

         $ 141,308      $ 114,481      $ 5,582  

Ratios to average net assets of:

 

Expenses

           0.28 %5,6       0.28 %5,6       0.28 %8 

Net investment income

                       1.94 %5       1.65 %5       1.66 %8 

Portfolio turnover rate7

                       145      179      143
* 

Commencement of operations.

 

1 

Per share amounts were adjusted to reflect a 3:1 stock split effective February 6, 2017.

 

2 

Based on average shares outstanding.

 

3 

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

 

4 

Includes a reimbursement from the sub-advisor for an operational error. Excluding the reimbursement, total return would have been unchanged.

 

5 

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

 

6 

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

 

7 

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

 

8 

Annualized.

 

See Notes to Financial Statements.

 

114   WisdomTree Trust


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree U.S. Quality Dividend
Growth Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 43.04      $ 40.32      $ 35.45      $ 31.25      $ 31.23  

Investment operations:

 

Net investment income1

     1.09        0.97        0.78        0.73        0.70  

Net realized and unrealized gain (loss)

     (4.21      2.71        4.84        4.20        (0.02

Total from investment operations

     (3.12      3.68        5.62        4.93        0.68  

Dividends and distributions to shareholders:

 

Net investment income

     (1.07      (0.93      (0.75      (0.73      (0.66

Capital gains

            (0.03                     

Total dividends and distributions to shareholders

     (1.07      (0.96      (0.75      (0.73      (0.66

Net asset value, end of year

   $ 38.85      $ 43.04      $ 40.32      $ 35.45      $ 31.25  

TOTAL RETURN2

     (7.52 )%       9.25      15.95 %3       15.99      2.25

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 2,723,483      $ 2,780,361      $ 2,064,305      $ 1,290,417      $ 595,351  

Ratios to average net assets of:

 

Expenses

     0.28      0.28      0.28      0.28      0.28

Net investment income

     2.43      2.33      1.99      2.22      2.30

Portfolio turnover rate4

     41      29      29      29      32

 

           
WisdomTree U.S. Quality
Shareholder Yield Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 20185
     For the
Year Ended
March 31, 20175
     For the
Year Ended
March 31, 20165
 

Net asset value, beginning of year

   $ 84.70      $ 80.85      $ 70.26      $ 62.76      $ 66.28  

Investment operations:

 

Net investment income1

     1.52        1.43        1.14        0.92        1.06  

Net realized and unrealized gain (loss)

     (19.75      3.89        10.59        7.55        (3.70

Total from investment operations

     (18.23      5.32        11.73        8.47        (2.64

Dividends to shareholders:

 

Net investment income

     (1.42      (1.47      (1.14      (0.97      (0.88

Net asset value, end of year

   $ 65.05      $ 84.70      $ 80.85      $ 70.26      $ 62.76  

TOTAL RETURN2

     (21.86 )%       6.70      16.77      13.61      (4.00 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 61,795      $ 38,113      $ 44,466      $ 59,718      $ 138,062  

Ratios to average net assets of:

 

Expenses

     0.38      0.38      0.38 %6,7       0.38 %6       0.38 %6,7 

Net investment income

     1.75      1.73      1.48 %6       1.42 %6       1.68 %6 

Portfolio turnover rate4

     101      54      82      106      85
1 

Based on average shares outstanding.

 

2 

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

 

3 

Includes a reimbursement from the sub-advisor for an operational error. Excluding the reimbursement, total return would have been unchanged.

 

4 

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

 

5 

The information reflects the investment objective and strategy of the WisdomTree U.S. LargeCap Value Fund through December 17, 2017 and the investment objective and strategy of the WisdomTree U.S. Quality Shareholder Yield Fund thereafter.

 

6 

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

 

7 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      115  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree U.S. SmallCap
Dividend Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 20181
     For the
Year Ended
March 31, 20171
     For the
Year Ended
March 31, 20161
 

Net asset value, beginning of year

   $ 27.54      $ 27.43      $ 26.88      $ 22.91      $ 23.99  

Investment operations:

 

Net investment income2

     0.79        0.82        0.81        0.70        0.69  

Net realized and unrealized gain (loss)

     (9.40      0.08        0.53        4.09        (1.13

Total from investment operations

     (8.61      0.90        1.34        4.79        (0.44

Dividends to shareholders:

 

Net investment income

     (0.82      (0.79      (0.79      (0.82      (0.64

Net asset value, end of year

   $ 18.11      $ 27.54      $ 27.43      $ 26.88      $ 22.91  

TOTAL RETURN3

     (32.22 )%       3.25      5.02 %4       21.21      (1.69 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 1,316,919      $ 2,087,705      $ 1,965,277      $ 1,975,473      $ 1,216,658  

Ratios to average net assets5 of:

 

Expenses6

     0.38      0.38      0.38      0.38      0.38

Net investment income

     2.94      2.91      2.93      2.75      3.10

Portfolio turnover rate7

     50      26      36      44      33

 

           
WisdomTree U.S. SmallCap Fund    For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 20178
     For the
Year Ended
March 31, 20168
 

Net asset value, beginning of year

   $ 36.08      $ 35.70      $ 32.16      $ 25.69      $ 28.14  

Investment operations:

 

Net investment income2

     0.51        0.58        0.37        0.31        0.34  

Net realized and unrealized gain (loss)

     (13.66      0.38        3.51        6.53        (2.48

Total from investment operations

     (13.15      0.96        3.88        6.84        (2.14

Dividends to shareholders:

 

Net investment income

     (0.55      (0.58      (0.34      (0.37      (0.31

Net asset value, end of year

   $ 22.38      $ 36.08      $ 35.70      $ 32.16      $ 25.69  

TOTAL RETURN3

     (36.87 )%       2.72      12.09 %4       26.75      (7.60 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 419,676      $ 736,098      $ 588,999      $ 490,370      $ 369,965  

Ratios to average net assets5 of:

 

Expenses6

     0.38      0.38      0.38      0.38      0.38

Net investment income

     1.45      1.56      1.08      1.06      1.31

Portfolio turnover rate7

     55      45      48      51      43
1 

Per share amounts were adjusted to reflect a 3:1 stock split effective November 10, 2017.

 

2 

Based on average shares outstanding.

 

3 

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

 

4 

Includes a reimbursement from the sub-advisor for an operational error. Excluding the reimbursement, total return would have been unchanged.

 

5 

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

 

6 

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

 

7 

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

 

8 

Per share amounts were adjusted to reflect a 3:1 stock split effective February 6, 2017.

 

See Notes to Financial Statements.

 

116   WisdomTree Trust


Table of Contents

Financial Highlights (concluded)

WisdomTree Trust

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

 

 

WisdomTree U.S. SmallCap Quality
Dividend Growth Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 34.70      $ 34.26      $ 33.06      $ 28.17      $ 30.12  

Investment operations:

 

Net investment income1

     0.80        0.88        0.76        0.74        0.67  

Net realized and unrealized gain (loss)

     (9.68      0.41        1.21        4.87        (2.02

Total from investment operations

     (8.88      1.29        1.97        5.61        (1.35

Dividends to shareholders:

 

Net investment income

     (0.80      (0.85      (0.77      (0.72      (0.60

Total dividends and distributions to shareholders

     (0.80      (0.85      (0.77      (0.72      (0.60

Net asset value, end of year

   $ 25.02      $ 34.70      $ 34.26      $ 33.06      $ 28.17  

TOTAL RETURN2

     (26.22 )%       3.81      5.97      20.12      (4.42 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 73,802      $ 119,699      $ 101,060      $ 102,498      $ 35,208  

Ratios to average net assets of:

 

Expenses

     0.38      0.38      0.38      0.38      0.38

Net investment income

     2.29      2.47      2.24      2.35      2.43

Portfolio turnover rate3

     51      42      51      56      50

 

           
WisdomTree U.S. Total
Dividend Fund
   For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 94.61      $ 89.11      $ 84.04      $ 74.24      $ 74.25  

Investment operations:

 

Net investment income1

     2.76        2.56        2.27        2.07        2.04  

Net realized and unrealized gain (loss)

     (16.24      5.41        5.05        9.97        (0.03

Total from investment operations

     (13.48      7.97        7.32        12.04        2.01  

Dividends to shareholders:

 

Net investment income

     (2.74      (2.47      (2.25      (2.24      (2.02

Net asset value, end of year

   $ 78.39      $ 94.61      $ 89.11      $ 84.04      $ 74.24  

TOTAL RETURN2

     (14.75 )%       9.10      8.76 %4       16.47      2.84

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 634,956      $ 648,103      $ 579,232      $ 571,504      $ 493,708  

Ratios to average net assets5 of:

 

Expenses6

     0.28      0.28      0.28 %7       0.28 %7       0.28 %7 

Net investment income

     2.82      2.78      2.56      2.63      2.83

Portfolio turnover rate3

     16      11      11      12      12
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

Includes a reimbursement from the sub-advisor for an operational error. Excluding the reimbursement, total return would have been unchanged.

 

5 

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

 

6 

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

 

7 

Included in the expense ratio are legal expenses. Without these legal expenses, the annualized expense ratio would have been unchanged.

 

See Notes to Financial Statements.

 

WisdomTree Trust      117  


Table of Contents

Notes to Financial Statements

 

1. ORGANIZATION

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

 

   
Fund    Commencement
of Operations
 

WisdomTree U.S. Dividend ex-Financials Fund (“U.S. Dividend ex-Financials Fund’’)

     June 16, 2006  

WisdomTree U.S. ESG Fund (“U.S. ESG Fund’’) (formerly, WisdomTree U.S. Total Market Fund)

     February 23, 2007  

WisdomTree U.S. High Dividend Fund (“U.S. High Dividend Fund’’)

     June 16, 2006  

WisdomTree U.S. LargeCap Dividend Fund (“U.S. LargeCap Dividend Fund’’)

     June 16, 2006  

WisdomTree U.S. LargeCap Fund (“U.S. LargeCap Fund’’)

     February 23, 2007  

WisdomTree U.S. MidCap Dividend Fund (“U.S. MidCap Dividend Fund’’)

     June 16, 2006  

WisdomTree U.S. MidCap Fund (“U.S. MidCap Fund’’)

     February 23, 2007  

WisdomTree U.S. Multifactor Fund (“U.S. Multifactor Fund’’)

     June 29, 2017  

WisdomTree U.S. Quality Dividend Growth Fund (“U.S. Quality Dividend Growth Fund’’)

     May 22, 2013  

WisdomTree U.S. Quality Shareholder Yield Fund (“U.S. Quality Shareholder Yield Fund’’)

     February 23, 2007  

WisdomTree U.S. SmallCap Dividend Fund (“U.S. SmallCap Dividend Fund’’)

     June 16, 2006  

WisdomTree U.S. SmallCap Fund (“U.S. SmallCap Fund’’)

     February 23, 2007  

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (“U.S. SmallCap Quality Dividend Growth Fund’’)

     July 25, 2013  

WisdomTree U.S. Total Dividend Fund (“U.S. Total Dividend Fund’’)

     June 16, 2006  

Each Fund, except the WisdomTree U.S. ESG Fund and WisdomTree U.S. Quality Shareholder Yield Fund, seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree Investments, Inc. (“WisdomTree Investments’’). The WisdomTree U.S. ESG Fund is actively managed using a model-based approach seeking capital appreciation. The WisdomTree U.S. Quality Shareholder Yield Fund is actively managed using a model-based approach seeking income and capital appreciation. WisdomTree Investments is the parent company of WisdomTree Asset Management, Inc. (‘‘WTAM’’), the investment adviser to each Fund and the Trust. “WisdomTree” is a registered trademark of WisdomTree Investments and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act.

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

2. SIGNIFICANT ACCOUNTING POLICIES

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

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

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

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

 

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valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last quoted sale price or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange.

In certain instances, such as when reliable market valuations are not readily available, a Fund’s investments will be fair valued in accordance with the Fund’s pricing policy. The Board of Trustees has established a pricing committee (the “Pricing Committee”) which is comprised of senior representatives of WTAM and which reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from a national securities exchange, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Pricing Committee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.

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

Level 1 – quoted prices in active markets for identical securities

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

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)

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

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

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

Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent pricing service providers’ internal pricing models may use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar

 

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valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate.

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

The following is a summary of the fair valuations according to the inputs used as of March 31, 2020 in valuing each Fund’s assets:

 

       
U.S. Dividend ex-Financials Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 539,587,128      $      $     —  

Exchange-Traded Funds

     1,174,518                

Investment of Cash Collateral for Securities Loaned

            1,975,042         

Total

   $ 540,761,646      $ 1,975,042      $  
        
       
U.S. ESG Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Wireless Telecommunication Services

   $      $      $ 11,345 ** 

Other*

     72,735,829                

Investment of Cash Collateral for Securities Loaned

            322,107         

Total

   $ 72,735,829      $ 322,107      $ 11,345  
        
       
U.S. High Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 674,411,044      $      $     —  

Exchange-Traded Fund

     3,007,801                

Investment of Cash Collateral for Securities Loaned

            4,030,316         

Total

   $ 677,418,845      $ 4,030,316      $  
        
       
U.S. LargeCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 1,839,858,044      $      $     —  

Exchange-Traded Fund

     5,486,081                

Investment of Cash Collateral for Securities Loaned

            5,974,959         

Total

   $ 1,845,344,125      $ 5,974,959      $  
        
       
U.S. LargeCap Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 340,572,795      $      $     —  

Exchange-Traded Fund

     513,645                

Investment of Cash Collateral for Securities Loaned

            585,507         

Total

   $ 341,086,440      $ 585,507      $  
        
       
U.S. MidCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 2,471,257,736      $      $     —  

Exchange-Traded Fund

     8,731,483                

Investment of Cash Collateral for Securities Loaned

            202,305,185         

Total

   $ 2,479,989,219      $ 202,305,185      $  
        

 

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U.S. MidCap Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 558,863,445      $      $     —  

Exchange-Traded Fund

     821,392                

Investment of Cash Collateral for Securities Loaned

            48,722,575         

Total

   $ 559,684,837      $ 48,722,575      $  
        
       
U.S. Multifactor Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 141,005,429      $      $     —  

Investment of Cash Collateral for Securities Loaned

            2,475,192         

Total

   $ 141,005,429      $ 2,475,192      $  
        
       
U.S. Quality Dividend Growth Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 2,716,163,841      $      $     —  

Investment of Cash Collateral for Securities Loaned

            2,441,228         

Total

   $ 2,716,163,841      $ 2,441,228      $  
        
       
U.S. Quality Shareholder Yield Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 61,677,042      $      $     —  

Investment of Cash Collateral for Securities Loaned

            277,007         

Total

   $ 61,677,042      $ 277,007      $  
        
       
U.S. SmallCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 1,309,695,403      $      $     —  

Exchange-Traded Fund

     2,449,921                

Investment of Cash Collateral for Securities Loaned

            105,530,795         

Total

   $ 1,312,145,324      $ 105,530,795      $  
        
       
U.S. SmallCap Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Wireless Telecommunication Services

   $ 2,756,154      $      $ 177,189 ** 

Other*

     415,912,951                

Exchange-Traded Fund

     165,336                

Investment of Cash Collateral for Securities Loaned

            25,526,651         

Total

   $ 418,834,441      $ 25,526,651      $ 177,189  
        
       
U.S. SmallCap Quality Dividend Growth Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 73,663,524      $      $     —  

Investment of Cash Collateral for Securities Loaned

            2,584,671         

Total

   $ 73,663,524      $ 2,584,671      $  
        
       
U.S. Total Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 633,299,491      $      $     —  

Investment of Cash Collateral for Securities Loaned

            2,724,752         

Total

   $ 633,299,491      $ 2,724,752      $  
  *

Please refer to the Schedule of Investments for a breakdown of the valuation by industry type and/or country.

 

  **

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

During the fiscal year ended March 31, 2020, there were no significant transfers into or out of Level 3 of the fair value hierarchy.

 

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Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. All of the derivative instruments disclosed and described herein are subject to risk.

For the fiscal year ended March 31, 2020, the effects of derivative instruments on each Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

   
Fund    Amount of Realized Gain
or (Loss) on Derivatives
Recognized1
 

U.S. ESG Fund

 

Equity contracts

   $ (3,107

U.S. Multifactor Fund

 

Equity contracts

     36,331  
  1 

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

 

Equity contracts

   Net realized gain (loss) from futures contracts

During the fiscal year ended March 31, 2020, the volume of derivative activity (based on the average of month-end balances, except where footnoted) for each Fund was as follows:

 

   
     Average Notional  
Fund    Futures
contracts
(long)
 

U.S. ESG Fund

  

Equity contracts1

   $ 18,960  

U.S. Multifactor Fund

 

Equity contracts1

     109,902  
  1 

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

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

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

Under the investment advisory agreement for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other fees, charges, taxes, levies or expenses (such as stamp taxes) incurred in connection with the execution of portfolio transactions or in connection with creation and redemption transactions (including without limitation any fees, charges, taxes, levies or expenses related to the purchase or sale of an amount of any currency, or the patriation or repatriation of any security or other asset, related to the execution of portfolio transactions or any creation or redemption transactions); (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s CCO; (vi) extraordinary expenses (in each case as determined by a majority of the Independent Trustees); (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the

 

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1940 Act; (viii) interest and taxes of any kind or nature (including, but not limited to, income, excise, transfer and withholding taxes); (ix) fees and expenses related to the provision of securities lending services; and (x) the advisory fee payable to WTAM.

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

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

Futures Contracts — The U.S. ESG Fund and U.S. Multifactor Fund utilized equity futures contracts on a temporary basis during the period to obtain market exposure consistent with their investment objectives during each Fund’s annual portfolio rebalance. When a Fund purchases a listed futures contract, it agrees to purchase a specified reference asset (e.g., commodity, currency or Treasury security) at a specified future date. When a Fund sells a listed futures contract, it agrees to sell a specified reference asset (e.g., commodity, currency or Treasury security) at a specified future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. The exchange clearing corporation is the ultimate counterparty for all exchange-listed contracts, so credit risk is limited to the creditworthiness of the exchange’s clearing corporation.

Upon entering into a futures contract, a Fund is required to deliver to a broker an amount of cash and/or government securities equal to a certain percentage of the contract amount. This amount is known as the “initial margin”. Subsequent payments, known as “variation margin”, generally are made or received by the Fund each day or at other agreed-upon time periods depending on the fluctuations in the value of the underlying futures contracts, except that in the case of certain futures contracts variation margin payments may be made or received when the futures contract expires. Variation margin is recorded for financial statement purposes on a daily basis as an unrealized gain or loss on futures until the financial futures contract is closed, at which time the net gain or loss is reclassified to realized gain or loss on futures. When a Fund purchases or sells a futures contract, the Fund is required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, a Fund will segregate assets consisting of, or take other measures with respect to, cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, will “cover” its position in a manner consistent with the 1940 Act or the rules and SEC interpretations thereunder. This will function as a practical limit on the amount of leverage which a Fund may undertake and on the potential increase in the speculative character of a Fund’s outstanding portfolio securities.

As of March 31, 2020, there were no open futures contracts in the Funds.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high-grade debt obligations, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower.

Master Netting Arrangements — FASB ASC Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial

 

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instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

The Funds’ security lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower.

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to the Lending Agreement or similar arrangements in the Statements of Assets and Liabilities. Therefore, all qualifying transactions, if any at March 31, 2020, are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2020, certain of the Funds had securities on loan and the value of the related collateral received by each of those Funds exceeded the value of the securities loaned by each of those Funds. The value of the securities loaned by each Fund is located in the Statements of Assets and Liabilities in “Investments in securities, at value” and also in the footnotes below the Schedules of Investments. In addition, a breakout of the total amount of cash and non-cash securities lending collateral received is located in the footnotes below the Schedules of Investments.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with the requirements of the Code and the U.S. Treasury regulations. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (‘‘Mellon’’) to provide sub-advisory services to the Funds. Mellon is compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

 

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Notes to Financial Statements (continued)

 

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

WTAM expects to receive advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:

 

   
Fund   

Advisory

Fee Rate

 

U.S. Dividend ex-Financials Fund

     0.38

U.S. ESG Fund

     0.28

U.S. High Dividend Fund

     0.38

U.S. LargeCap Dividend Fund

     0.28

U.S. LargeCap Fund

     0.08

U.S. MidCap Dividend Fund

     0.38

U.S. MidCap Fund

     0.38

U.S. Multifactor Fund

     0.28

U.S. Quality Dividend Growth Fund

     0.28

U.S. Quality Shareholder Yield Fund

     0.38

U.S. SmallCap Dividend Fund

     0.38

U.S. SmallCap Fund

     0.38

U.S. SmallCap Quality Dividend Growth Fund

     0.38

U.S. Total Dividend Fund

     0.28

Each Fund may purchase shares of affiliated ETFs in secondary market transactions to reduce cash balances. Transactions in shares of affiliated ETFs for the fiscal year ended March 31, 2020, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM waives its advisory fees for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (fund accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are shown in the Statements of Operations in “Expense waivers”.

During the fiscal year ended March 31, 2020, certain Funds engaged in purchase and sale transactions with funds that have a common investment adviser, WTAM. These interfund purchase and sale transactions were effected in accordance with Rule 17a-7 under the 1940 Act. For the fiscal year ended March 31, 2020, the cost of purchases, proceeds from sales and the net realized gain or loss recognized upon the disposal of securities resulting from interfund transactions are shown in the following table:

 

       
Fund    Purchases      Sales      Net Realized
Gain/Loss
 

U.S. Dividend ex-Financials Fund

   $ 52,221,887      $ 83,598,573      $ (3,587,335

U.S. ESG Fund

     3,634,427        5,076,045        (634,552

U.S. High Dividend Fund

     76,026,086        61,470,755        (8,668,105

U.S. LargeCap Dividend Fund

     62,051,645        36,671,717        (3,216,534

U.S. LargeCap Fund

     18,460,411        11,847,565        (688,168

U.S. MidCap Dividend Fund

     137,352,834        335,476,021        (30,520,259

U.S. MidCap Fund

     115,044,201        114,713,865        (21,595,310

U.S. Quality Dividend Growth Fund

     131,249,269        108,509,650        5,707,890  

U.S. Quality Shareholder Yield Fund

     10,795,598        9,982,516        410,295  

U.S. SmallCap Dividend Fund

     220,531,796        160,024,263        11,622,005  

U.S. SmallCap Fund

     101,509,347        39,644,245        1,281,186  

U.S. SmallCap Quality Dividend Growth Fund

     25,880,434        11,932,402        1,255,416  

U.S. Total Dividend Fund

     30,903,453        6,267,442        (935,255

 

WisdomTree Trust      125  


Table of Contents

Notes to Financial Statements (continued)

 

WTAM or its affiliates may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2020, WTAM held shares of and received distributions from the following Funds which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

 

       
Fund    Fund Shares
held by WTAM
     Market Value of
Fund Shares
held by WTAM
     Dividends and
Distributions paid
to WTAM on
Fund Shares
held by WTAM
 

U.S. Dividend ex-Financials Fund

          $      $  68  

U.S. LargeCap Dividend Fund

     38      3,076      123

U.S. LargeCap Fund

     2,223      62,489      1,112

U.S. MidCap Dividend Fund

     597      14,424      395

U.S. MidCap Fund

                   23

U.S. Multifactor Fund

     1,684      41,292      1,030

U.S. Quality Dividend Growth Fund

     704      27,393      1,027

U.S. Quality Shareholder Yield Fund

     86      5,567      138

U.S. SmallCap Dividend Fund

     20      360      123

U.S. SmallCap Fund

     446      9,959      236

U.S. SmallCap Quality Dividend Growth Fund

     39      980      39

U.S. Total Dividend Fund

     241      18,875      190

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2020, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof. Except when aggregated in creation units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities and/or an amount of cash. Investors purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year ended March 31, 2020 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

U.S. Dividend ex-Financials Fund

   $ 354,256,930      $ 353,648,666      $ 140,037,706      $ 209,660,229  

U.S. ESG Fund

     51,441,124        51,589,524        5,282,165        32,186,148  

U.S. High Dividend Fund

     359,518,505        358,377,684        163,858,780        238,400,193  

U.S. LargeCap Dividend Fund

     290,537,211        280,277,644        413,733,990        289,257,859  

U.S. LargeCap Fund

     70,471,481        69,868,990        253,794,523        94,742,225  

U.S. MidCap Dividend Fund

     1,274,630,126        1,258,259,269        570,718,795        552,555,314  

U.S. MidCap Fund

     432,838,197        431,860,867        150,557,020        364,569,965  

U.S. Multifactor Fund

     204,616,734        205,733,563        130,559,522        70,007,993  

U.S. Quality Dividend Growth Fund

     1,212,596,946        1,183,410,935        1,030,530,300        800,526,917  

U.S. Quality Shareholder Yield Fund

     47,465,519        47,318,138        60,229,130        23,266,778  

U.S. SmallCap Dividend Fund

     1,024,905,155        994,584,776        87,121,462        151,067,975  

U.S. SmallCap Fund

     405,982,820        405,735,251        183,421,110        227,565,265  

U.S. SmallCap Quality Dividend Growth Fund

     59,510,600        58,958,333        20,488,946        32,326,625  

U.S. Total Dividend Fund

     118,045,293        117,918,002        244,275,504        114,163,388  

 

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Table of Contents

Notes to Financial Statements (continued)

 

6. FEDERAL INCOME TAXES

At March 31, 2020, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:

 

         
Fund    Tax Cost      Gross Unrealized
Appreciation
     Gross Unrealized
Depreciation
     Net Unrealized
Depreciation
 

U.S. Dividend ex-Financials Fund

   $ 701,612,707      $ 23,018,287      $ (181,894,306    $ (158,876,019

U.S. ESG Fund

     73,433,880        5,256,360        (5,620,959      (364,599

U.S. High Dividend Fund

     856,641,336        10,087,988        (185,280,163      (175,192,175

U.S. LargeCap Dividend Fund

     1,889,658,814        254,695,642        (293,035,372      (38,339,730

U.S. LargeCap Fund

     397,157,517        11,609,745        (67,095,315      (55,485,570

U.S. MidCap Dividend Fund

     3,561,316,806        154,322,847        (1,033,345,249      (879,022,402

U.S. MidCap Fund

     846,826,040        22,008,232        (260,426,860      (238,418,628

U.S. Multifactor Fund

     165,759,826        3,500,465        (25,779,670      (22,279,205

U.S. Quality Dividend Growth Fund

     2,847,275,121        215,197,909        (343,867,961      (128,670,052

U.S. Quality Shareholder Yield Fund

     77,745,252        474,501        (16,265,704      (15,791,203

U.S. SmallCap Dividend Fund

     2,006,342,396        74,888,461        (663,554,738      (588,666,277

U.S. SmallCap Fund

     711,006,992        12,024,140        (278,492,851      (266,468,711

U.S. SmallCap Quality Dividend Growth Fund

     105,772,622        2,568,213        (32,092,640      (29,524,427

U.S. Total Dividend Fund

     678,537,793        77,596,309        (120,109,859      (42,513,550

At March 31, 2020, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

         
Fund    Undistributed
Ordinary Income
     Undistributed
Capital and
Other Losses
     Net Unrealized
Depreciation
     Total Distributable
Earnings (Loss)
 

U.S. Dividend ex-Financials Fund

   $ 589,738      $ (53,663,531    $ (158,876,019    $ (211,949,812

U.S. ESG Fund

            (10,090,812      (364,599      (10,455,411

U.S. High Dividend Fund

     148,330        (59,939,173      (175,192,175      (234,983,018

U.S. LargeCap Dividend Fund

     1,543,539        (71,003,572      (38,339,730      (107,799,763

U.S. LargeCap Fund

     227,227        (8,361,482      (55,485,570      (63,619,825

U.S. MidCap Dividend Fund

     4,682,363        (232,338,568      (879,022,402      (1,106,678,607

U.S. MidCap Fund

     234,546        (104,558,430      (238,418,628      (342,742,512

U.S. Multifactor Fund

     26,367        (25,906,452      (22,279,205      (48,159,290

U.S. Quality Dividend Growth Fund

     3,608,595        (141,639,800      (128,670,052      (266,701,257

U.S. Quality Shareholder Yield Fund

     51,152        (2,698,760      (15,791,203      (18,438,811

U.S. SmallCap Dividend Fund

     757,487        (224,093,831      (588,666,277      (812,002,621

U.S. SmallCap Fund

            (58,177,408      (266,468,711      (324,646,119

U.S. SmallCap Quality Dividend Growth Fund

     111,897        (18,646,186      (29,524,427      (48,058,716

U.S. Total Dividend Fund

     704,328        (25,988,953      (42,513,550      (67,798,175

 

WisdomTree Trust      127  


Table of Contents

Notes to Financial Statements (continued)

 

The tax character of distributions paid during the fiscal years ended March 31, 2020 and March 31, 2019, was as follows:

 

     
     Year Ended
March 31, 2020
     Year Ended March 31, 2019  
Fund    Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Long-Term
Capital Gains
 

U.S. Dividend ex-Financials Fund

   $ 28,605,928      $ 27,412,642      $ 560,514  

U.S. ESG Fund

     2,196,268        1,733,962         

U.S. High Dividend Fund

     35,182,638        32,229,868         

U.S. LargeCap Dividend Fund

     60,470,137        53,410,696         

U.S. LargeCap Fund

     6,827,555        4,134,218         

U.S. MidCap Dividend Fund

     110,075,200        73,682,291         

U.S. MidCap Fund

     17,560,711        15,362,214         

U.S. Multifactor Fund

     2,826,270        905,199         

U.S. Quality Dividend Growth Fund

     69,826,053        52,909,568        1,596,218  

U.S. Quality Shareholder Yield Fund

     764,994        676,737         

U.S. SmallCap Dividend Fund

     63,284,313        57,474,162         

U.S. SmallCap Fund

     11,592,685        10,921,376         

U.S. SmallCap Quality Dividend Growth Fund

     2,702,894        2,704,131         

U.S. Total Dividend Fund

     20,435,251        16,303,635         
  * 

Includes short-term capital gains, if any.

At March 31, 2020, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the below table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

       
Fund   

Short-Term

    

Long-Term

     Capital Loss
Available Total
 

U.S. Dividend ex-Financials Fund

   $ 1,224,964      $ 52,438,567      $ 53,663,531  

U.S. ESG Fund

     1,774,682        2,820,150        4,594,832  

U.S. High Dividend Fund

     705,728        59,233,445        59,939,173  

U.S. LargeCap Dividend Fund

     9,398,298        61,605,274        71,003,572  

U.S. LargeCap Fund

     2,341,189        6,020,293        8,361,482  

U.S. MidCap Dividend Fund

     59,928,080        172,410,488        232,338,568  

U.S. MidCap Fund

     33,013,107        71,545,323        104,558,430  

U.S. Multifactor Fund

     24,842,669        1,063,783        25,906,452  

U.S. Quality Dividend Growth Fund

     61,471,757        80,168,043        141,639,800  

U.S. Quality Shareholder Yield Fund

     1,489,507        1,209,253        2,698,760  

U.S. SmallCap Dividend Fund

     23,617,523        200,476,308        224,093,831  

U.S. SmallCap Fund

     21,775,202        36,402,206        58,177,408  

U.S. SmallCap Quality Dividend Growth Fund

     6,335,554        12,310,632        18,646,186  

U.S. Total Dividend Fund

     6,635,400        19,353,553        25,988,953  

Capital losses incurred after October 31 (“post-October capital losses”) within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year.

 

128   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

During the fiscal year ended March 31, 2020, the following Funds incurred and will elect to defer post-October capital losses as follows:

 

     
Fund    Short-Term
Post-October
Capital
Losses
     Long-Term
Post-October
Capital
Losses
 

U.S. Dividend ex-Financials Fund

   $      $  

U.S. ESG Fund

     3,848,909        1,647,071  

U.S. High Dividend Fund

             

U.S. LargeCap Dividend Fund

             

U.S. LargeCap Fund

             

U.S. MidCap Dividend Fund

             

U.S. MidCap Fund

             

U.S. Multifactor Fund

             

U.S. Quality Dividend Growth Fund

             

U.S. Quality Shareholder Yield Fund

             

U.S. SmallCap Dividend Fund

             

U.S. SmallCap Fund

             

U.S. SmallCap Quality Dividend Growth Fund

             

U.S. Total Dividend Fund

             

During the fiscal year ended March 31, 2020, the amount of capital loss carryforwards used to offset realized gains are shown in the following table:

 

   
Fund    Utilized
Capital Loss
Carryforward
 

U.S. Dividend ex-Financials Fund

   $  

U.S. ESG Fund

      

U.S. High Dividend Fund

      

U.S. LargeCap Dividend Fund

      

U.S. LargeCap Fund

      

U.S. MidCap Dividend Fund

      

U.S. MidCap Fund

      

U.S. Multifactor Fund

      

U.S. Quality Dividend Growth Fund

      

U.S. Quality Shareholder Yield Fund

      

U.S. SmallCap Dividend Fund

      

U.S. SmallCap Fund

     9,365,462  

U.S. SmallCap Quality Dividend Growth Fund

      

U.S. Total Dividend Fund

      

 

WisdomTree Trust      129  


Table of Contents

Notes to Financial Statements (concluded)

 

At March 31, 2020, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as follows:

 

     
Fund    Total
Distributable
Earnings (Loss)
     Paid-in Capital  

U.S. Dividend ex-Financials Fund

   $ (52,866,470    $ 52,866,470  

U.S. ESG Fund

     (9,449,822      9,449,822  

U.S. High Dividend Fund

     (43,590,481      43,590,481  

U.S. LargeCap Dividend Fund

     (104,076,959      104,076,959  

U.S. LargeCap Fund

     (34,277,120      34,277,120  

U.S. MidCap Dividend Fund

     (100,909,454      100,909,454  

U.S. MidCap Fund

     (51,250,631      51,250,631  

U.S. Multifactor Fund

     (5,416,186      5,416,186  

U.S. Quality Dividend Growth Fund

     (261,145,501      261,145,501  

U.S. Quality Shareholder Yield Fund

     (5,494,181      5,494,181  

U.S. SmallCap Dividend Fund

     (11,622,966      11,622,966  

U.S. SmallCap Fund

     (48,023,671      48,023,671  

U.S. SmallCap Quality Dividend Growth Fund

     (2,488,327      2,488,327  

U.S. Total Dividend Fund

     (50,107,947      50,107,947  

These differences are primarily due to redemptions-in-kind and distributions in excess of current earnings.

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Foreign withholding taxes, as applicable, are accrued based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. As of and during the fiscal year ended March 31, 2020, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Generally, each of the tax years in the four-year period ended March 31, 2020, remains subject to examination by taxing authorities.

7. ADDITIONAL INFORMATION

A recent outbreak of a respiratory disease caused by a novel coronavirus (“COVID-19”) has spread globally in a short period of time. In an organized attempt to contain and mitigate the effects of COVID-19, governments and businesses world-wide have taken aggressive measures, including businesses canceling dividends to preserve cash, governments closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations. COVID-19 has resulted in the disruption of and delays in the delivery of healthcare services and processes, the cancellation of organized events and educational institutions, the disruption of production and supply chains, a decline in consumer demand for certain goods and services, and general concern and uncertainty, all of which have contributed to increased volatility in global markets. The effects of COVID-19 have affected and are likely to continue to affect certain sectors and industries more dramatically than others, and the effects borne by some will negatively affect the value of the issuers in those sectors and industries, which may adversely affect the value of each Fund’s investments in those sectors or industries. COVID-19, and other epidemics and pandemics that may arise in the future, could adversely affect the economies of many nations, the global economy, individual companies and capital markets in ways that cannot be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to limited health care resources. Political, economic and social stresses caused by COVID-19 also may exacerbate other pre-existing political, social and economic risks in certain countries. The duration of COVID-19 and its effects cannot be determined at this time, but the effects could be present for an extended period of time. It is impossible to predict the effects on the Funds of these or similar events and market conditions in the future. However, it is possible that these or similar events and market conditions could have a significant and adverse effect on the NAV and/or risk profile of the Funds.

 

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Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree U.S. Dividend ex-Financials Fund, WisdomTree U.S. ESG Fund (formerly, WisdomTree U.S. Total Market Fund), WisdomTree U.S. High Dividend Fund, WisdomTree U.S. LargeCap Dividend Fund, WisdomTree U.S. LargeCap Fund, WisdomTree U.S. MidCap Dividend Fund, WisdomTree U.S. MidCap Fund, WisdomTree U.S. Multifactor Fund, WisdomTree U.S. Quality Dividend Growth Fund, WisdomTree U.S. Quality Shareholder Yield Fund, WisdomTree U.S. SmallCap Dividend Fund, WisdomTree U.S. SmallCap Fund, WisdomTree U.S. SmallCap Quality Dividend Growth Fund and WisdomTree U.S. Total Dividend Fund and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of WisdomTree U.S. Dividend ex-Financials Fund, WisdomTree U.S. ESG Fund (formerly, WisdomTree U.S. Total Market Fund), WisdomTree U.S. High Dividend Fund, WisdomTree U.S. LargeCap Dividend Fund, WisdomTree U.S. LargeCap Fund, WisdomTree U.S. MidCap Dividend Fund, WisdomTree U.S. MidCap Fund, WisdomTree U.S. Multifactor Fund, WisdomTree U.S. Quality Dividend Growth Fund, WisdomTree U.S. Quality Shareholder Yield Fund, WisdomTree U.S. SmallCap Dividend Fund, WisdomTree U.S. SmallCap Fund, WisdomTree U.S. SmallCap Quality Dividend Growth Fund and WisdomTree U.S. Total Dividend Fund (collectively referred to as the “Funds”), (fourteen of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments, as of March 31, 2020, and the related statements of operations, and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (fourteen of the funds constituting WisdomTree Trust) at March 31, 2020, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

 

       
Individual fund constituting the WisdomTree Trust    Statement of
operations
   Statements of changes in
net assets
  

Financial highlights

WisdomTree U.S. Dividend ex-Financials Fund

WisdomTree U.S. ESG Fund (formerly, WisdomTree U.S. Total Market Fund)

WisdomTree U.S. High Dividend Fund

WisdomTree U.S. LargeCap Dividend Fund

WisdomTree U.S. LargeCap Fund

WisdomTree U.S. MidCap Dividend Fund

WisdomTree U.S. MidCap Fund

WisdomTree U.S. Quality Dividend Growth Fund

WisdomTree U.S. Quality Shareholder Yield Fund

WisdomTree U.S. SmallCap Dividend Fund

WisdomTree U.S. SmallCap Fund

WisdomTree U.S. SmallCap Quality Dividend Growth Fund

WisdomTree U.S. Total Dividend Fund

   For the year ended March 31, 2020    For each of the two years in the period ended March 31, 2020    For each of the five years in the period ended March 31, 2020

WisdomTree U.S. Multifactor Fund

   For the year ended March 31, 2020    For each of the two years in the period ended March 31, 2020    For each of the two years in the period ended March 31, 2020 and the period from June 29, 2017 (commencement of operations) through March 31, 2018

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis,

 

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Report of Independent Registered Public Accounting Firm (concluded)

 

evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2020, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

LOGO

We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 21, 2020

 

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Trustees and Officers Information (unaudited)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

During Past
5 Years

Trustees Who Are Interested Persons of the Trust

Jonathan Steinberg
(1964)
  Trustee, 2005- present; President, 2005-present   Chief Executive Officer, WisdomTree Investments, Inc. and WisdomTree Asset Management since 2005; President, WisdomTree Investments, Inc. and WisdomTree Asset Management from 2012 to 2019.     76     Director, WisdomTree Investments, Inc. and WisdomTree Asset Management.

Trustees Who Are Not Interested Persons of the Trust

David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     76     Trustee, Vericimetry Funds (2011 to 2014).
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner, Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     76     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     76     None

Melinda A. 
Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     76     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     76     Member of the Board of Governors of Naismith Memorial Basketball Hall of Fame (2001-2016).

 

 

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Trustees and Officers Information (unaudited) (concluded)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

During Past
5 Years

Officers of the Trust

Jonathan 
Steinberg*****

(1964)

 

President, 2005-

present; Trustee, 2005-present

  Chief Executive Officer, WisdomTree Investments, Inc. and WisdomTree Asset Management since 2005; President, WisdomTree Investments, Inc. and WisdomTree Asset Management from 2012 to 2019.     76     Director, WisdomTree Investments, Inc. and WisdomTree Asset Management, Inc.

David Castano*****

(1971)

 

Treasurer, 2013-

present

  Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, WisdomTree Asset Management, 2011 to 2020.     76     None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present   Chief Compliance Officer, WisdomTree Asset Management since 2012; Senior Compliance Officer, WisdomTree Asset Management since 2011.     76     None

Ryan Louvar*****

(1972)

  Secretary and Chief Legal Officer, 2013-present   General Counsel, WisdomTree Asset Management since 2013; Vice President and Senior Managing Counsel, State Street, 2005 to 2013.     76     None

Joanne Antico*****

(1975)

 

Assistant Secretary,

2018-present

  Assistant General Counsel, WisdomTree Asset Management since 2016; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.     76     None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present   Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.     76     None

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

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Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year ended March 31, 2020, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2021.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2020, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

U.S. Dividend ex-Financials Fund

   $ 28,605,928  

U.S. ESG Fund

     1,788,211  

U.S. High Dividend Fund

     33,742,561  

U.S. LargeCap Dividend Fund

     60,470,137  

U.S. LargeCap Fund

     6,827,555  

U.S. MidCap Dividend Fund

     102,338,085  

U.S. MidCap Fund

     17,560,711  

U.S. Multifactor Fund

     2,826,270  

U.S. Quality Dividend Growth Fund

     69,826,053  

U.S. Quality Shareholder Yield Fund

     764,994  

U.S. SmallCap Dividend Fund

     61,701,613  

U.S. SmallCap Fund

     11,303,367  

U.S. SmallCap Quality Dividend Growth Fund

     2,702,894  

U.S. Total Dividend Fund

     20,435,251  

The following represents the percentage of dividends paid during the fiscal year ended March 31, 2020, that qualify for the 70% dividends received deduction for corporate shareholders:

 

   
Fund    Dividends-
Received
Deduction
 

U.S. Dividend ex-Financials Fund

     99.87

U.S. ESG Fund

     100.00

U.S. High Dividend Fund

     99.59

U.S. LargeCap Dividend Fund

     99.92

U.S. LargeCap Fund

     99.99

U.S. MidCap Dividend Fund

     93.42

U.S. MidCap Fund

     99.97

U.S. Multifactor Fund

     99.88

U.S. Quality Dividend Growth Fund

     99.89

U.S. Quality Shareholder Yield Fund

     100.00

U.S. SmallCap Dividend Fund

     99.57

U.S. SmallCap Fund

     99.58

U.S. SmallCap Quality Dividend Growth Fund

     99.79

U.S. Total Dividend Fund

     99.91

 

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General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

Previously, the Funds were required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Beginning in April 2019, the Funds ceased filing Form N-Q and commenced filing Form N-PORT. Part F of each Fund’s Form N-PORT filings for the first and third fiscal quarters contain the complete schedule of portfolio holdings in the same manner as previously filed on Form N-Q. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: publicinfo@sec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com.

 

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The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree Investments, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree Investments, its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other information, is available at www.wisdomtree.com, or by calling 1-866-909-WISE (9473). Investors should read the prospectus carefully before investing. There are risks associated with investing, including possible loss of principal. Past performance does not guarantee future results. Indexes are unmanaged and you cannot invest directly in an index.

There are risks associated with investing, including possible loss of principal. Funds focusing their investments on certain sectors and/or smaller companies increase their vulnerability to any single economic or regulatory development. This may result in greater share price volatility. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.


Table of Contents

WisdomTree Trust

245 Park Avenue, 35th Floor

New York, NY 10167

 

LOGO

 

LOGO

 

WisdomTree Fund shares are distributed by Foreside Fund Services, LLC, in the U.S. only.

WTGM-3605


Table of Contents

LOGO

 

LOGO

 

WisdomTree Trust

Annual Report

March 31, 2020

 

WisdomTree Asia Pacific ex-Japan Fund (AXJL)

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

WisdomTree Emerging Markets Consumer Growth Fund (EMCG)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

WisdomTree Emerging Markets High Dividend Fund (DEM)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

WisdomTree Global ex-U.S. Real Estate Fund (DRW)

WisdomTree Global High Dividend Fund (DEW)

WisdomTree India Earnings Fund (EPI)

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

WisdomTree Middle East Dividend Fund (GULF)

WisdomTree Modern Tech Platforms Fund (PLAT)

IMPORTANT NOTE: Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the WisdomTree Funds’ annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, annual and semi-annual shareholder reports will be available on the WisdomTree Funds’ website (www.wisdomtree.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a Fund electronically anytime by contacting your financial intermediary (such as a broker-dealer or bank).

You may elect to receive all future reports in paper free of charge. Please contact your financial intermediary to request to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account.


Table of Contents

Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       4  

Management’s Discussion of Funds’ Performance (unaudited)

       5  

Description of Terms and Indexes (unaudited)

       20  
Schedules of Investments     

WisdomTree Asia Pacific ex-Japan Fund

       23  

WisdomTree China ex-State-Owned Enterprises Fund

       26  

WisdomTree Emerging Markets Consumer Growth Fund

       29  

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund

       32  

WisdomTree Emerging Markets High Dividend Fund

       38  

WisdomTree Emerging Markets Multifactor Fund

       45  

WisdomTree Emerging Markets Quality Dividend Growth Fund

       48  

WisdomTree Emerging Markets SmallCap Dividend Fund

       52  

WisdomTree Global ex-U.S. Quality Dividend Growth Fund

       61  

WisdomTree Global ex-U.S. Real Estate Fund

       66  

WisdomTree Global High Dividend Fund

       70  

WisdomTree India Earnings Fund (consolidated)

       79  

WisdomTree India ex-State-Owned Enterprises Fund

       84  

WisdomTree Middle East Dividend Fund

       86  

WisdomTree Modern Tech Platforms Fund

       88  

Statements of Assets and Liabilities

       90  

Statements of Operations

       93  

Statements of Changes in Net Assets

       96  

Financial Highlights

       101  

Notes to Financial Statements

       109  

Report of Independent Registered Public Accounting Firm

       129  

Trustees and Officers Information (unaudited)

       131  

Supplemental Information (unaudited)

       133  

General Information (unaudited)

       135  

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


Table of Contents

Market Environment Overview

(unaudited)

 

Emerging Markets

Emerging market (“EM”) equities, as measured by the MSCI Emerging Markets Index, returned -12.99% in local currency terms and -17.69% in U.S. dollar terms for the 12-month fiscal period that ended March 31, 2020 (the “period”). EM currencies broadly weakened versus the U.S. dollar during the period, primarily driven by strengthening of the U.S. dollar in the final three months of the period. The currencies of Argentina, Brazil, Colombia, and Chile weakened more than 20% versus the U.S. dollar during the period. A confluence of factors drove these currencies lower, including the negative economic impact from the novel coronavirus (“COVID-19”), a rapid decline in oil prices, falling interest rates with little room for further cuts to monetary policy rates, and civil unrest. The Argentine peso was especially hurt as the currency weakened 32.74% versus the U.S. dollar over ongoing concerns about the country’s ability to fulfill its debt obligations.

EM equities were mostly unchanged in the second quarter of 2019, as measured by the MSCI Emerging Markets Index, returning 0.61% in U.S. dollar terms and 0.20% in local currency terms. Markets continued to rise in April 2019 despite ongoing trade tensions and mounting concerns about slowing global economic growth. In May 2019, U.S.-China trade negotiations broke down. The U.S. raised tariffs on $200 billion of Chinese goods, followed by China’s implementation of a retaliatory increase in tariffs on $60 billion of U.S. goods. This negative development led EM equities and currencies lower. A less constructive outlook for global trade negatively impacted oil prices amid mounting concerns about oversupply and low demand. Meanwhile, Indian Prime Minister Modi was re-elected for a second five-year term, which was a positive catalyst for Indian equities during the second quarter of 2019. The resumption of U.S.-China trade negotiations in June 2019 alongside falling oil inventories and increased expectations for easing monetary policy in the developed world, especially in the U.S., led EM equities to recover in June 2019. Russia was a relative outperformer, driven by an improved outlook for oil inventories alongside a reduction in interest rates by the nation’s central bank.

EM equity returns were negative in the third quarter of 2019, as measured by the MSCI Emerging Markets Index, returning -4.25% in U.S. dollar terms and -2.07% in local currency terms. Slowing growth in major global economies, and U.S. President Trump’s announcement of additional tariffs on Chinese goods negatively impacted EM equities. Signs of economic slowdown in China was a major headwind on EM equity returns. The escalation of the U.S.-China trade dispute in early August 2019 led China’s currency to weaken. Central banks in several other EM countries, including South Korea, Indonesia, South Africa, India, Mexico, Turkey, Brazil, and Thailand, cut their benchmark rates, reflecting weakening global trade and demand. Notably, the Indian government implemented a series of additional measures aimed at stimulating economic growth, including a corporate tax cut. Meanwhile, South Korea was especially negatively impacted by trade disputes on two fronts: 1) U.S.-China trade tensions dampened exports of technology inputs and other components to China, and 2) Japan removed South Korea from its list of preferred trading partners. Argentina experienced notable negative performance driven by the surprise defeat of the incumbent president in a primary election. Falling oil prices were also a drag on EM equity returns as concerns about oversupply were a headwind for oil exporters.

EM equities rebounded 11.84% in U.S. dollar terms and 9.54% in local currency terms in the fourth quarter of 2019, as measured by the MSCI Emerging Markets Index. Key global developments, including a preliminary agreement in U.S.-China trade negotiations as well as a clearer path to the United Kingdom’s exit from the European Union, helped to reduce global uncertainty and improve sentiment in emerging markets. A rebound in oil prices following an announced cut in global production also benefited EM equities in December 2019. Additionally, continued easing of monetary policy by EM central banks supported EM equities during the fourth quarter of 2019.

EM equities experienced a meaningful drawdown alongside global equities in the first quarter of 2020. As measured by the MSCI Emerging Markets Index, EM equities fell -23.60% in U.S. dollar terms and fell -19.05% in local currency terms, driven by the

 

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Table of Contents

Market Environment Overview

(unaudited) (continued)

 

 

negative impact from COVID-19 and collapsing oil prices. Beginning in early January 2020, news of the spread of COVID-19 in Wuhan, China began to emerge and by the end of January 2020, China announced the lock down of select infected cities.

In the ensuing weeks, the global rate of COVID-19 infection spread along with the impact on the global economy. Large international corporations announced disruptions to operations and forecasted meaningful reductions in financial expectations – a signal of the heavy economic toll from the spread of the virus and the consequent halt to business activity. In early February 2020, China’s central bank lowered interest rates to support the economy. The first official datapoint after China was impacted by the virus showed a significant contraction in Chinese manufacturing activity. Amidst virus related market volatility, Saudi Arabia and Russia entered an oil price war. Following a failed agreement on production cuts, Saudi Arabia sought to increase market share.

In March 2020, Chinese equity performance began to positively diverge from broader EM and global equity market performance. China reopened portions of its economy while most other nations began to lock down to prevent spread of the virus. During this time, EM nations implemented both fiscal and monetary stimulus measures, including cuts to interest rates and reserve requirements as well as unprecedented spending packages to aid households and businesses.

International Markets

International equity markets, as measured by the MSCI EAFE Index, a broad measure of equity performance for the developed world outside the U.S. and Canada, returned -14.38% in U.S. dollar terms for the 12-month period ended March 31, 2020. Measured in local currency, the MSCI EAFE Index returned -12.58% over the same period. International currency performance was mixed in the period, and the largest currency moves occurred in the first quarter of 2020 due to the COVID-19 outbreak. Most international currencies weakened versus the U.S. dollar. Meanwhile, the Japanese yen and Swiss franc, which are widely regarded as safe-haven currencies during periods of volatility, strengthened relative to the U.S. dollar.

International equities generated positive performance for the second quarter of 2019, as measured by the MSCI EAFE Index, returning +3.68% in U.S. dollar terms and +2.80% in local currency terms. Positive performance in April 2019 and June 2019 more than offset negative returns in May of 2019. Early in the second quarter of 2019, incoming economic data continued to show signs of weakening. In Germany, manufacturing survey data contracted, and 10-year German government bond yields entered negative territory for the first time since 2016. In May 2019, escalation of the U.S.-China trade dispute and the continued weakening trend in economic datapoints from Germany, the Eurozone’s largest economy, were key drivers of negative equity performance. Also contributing to negative sentiment was the announced resignation of Theresa May as United Kingdom (“U.K.”) Prime Minister. Japanese gross domestic product (“GDP”) growth of +2.1% was a surprise to the upside relative to expectations for contraction which was a modest positive offset. In June 2019, European equities rallied on heightened expectations for easing monetary policy conditions and an outlook improved global trade relations.

International equity performance was positive, although slightly more subdued, in the third quarter of 2019. During this period, in local currency terms, the MSCI EAFE Index returned +1.75% but broad strengthening of the U.S. dollar resulted in a -1.07% return in U.S. dollar terms. In July 2019, Japanese election results confirmed that incumbent Prime Minister Shinzo Abe would remain in power, providing political stability within the nation. Meanwhile, the German manufacturing sector continued to lag, posting its lowest level of activity in seven years, which was slightly offset by services sector expansion. These contracting economic indicators and signals from new leadership at the European Central Bank drove expectations for easing monetary policy in the Eurozone. In the U.K., Boris Johnson was elected as Britain’s Prime Minister, pledging that the U.K. would exit the European Union (known as “Brexit”) by October 31, 2019. Late August 2019 brought

 

2   WisdomTree Trust


Table of Contents

Market Environment Overview

(unaudited) (concluded)

 

a trade resolution between the U.S. and Japan, but escalating tensions between the U.S. and China remained in focus and were largely to blame for a reported contraction in German GDP as well as a sizable drop in Japanese exports. Additionally, Italy narrowly avoided political collapse with the formation of a new governing coalition between the Democratic party and the populist Five Star Movement. European market volatility calmed in September 2019, despite increasing Brexit uncertainty, after the European Central Bank cut the deposit rate to a record low alongside the introduction of a new quantitative easing program.

International equity markets rallied in the fourth quarter of 2019, as measured by the MSCI EAFE Index, returning +8.17% in U.S. dollar terms and +5.19% in local currency terms. The fourth quarter of 2019 was characterized by a reduction in global uncertainty and accommodative monetary policy. In October 2019, Japan increased the sales tax rate by 2% to 10%, which partially drove slowing economic activity alongside a reduction in exports from U.S.-China trade frictions. In October 2019, the European Union delayed Brexit for the third time to January 2020, beyond U.K. Prime Minister Boris Johnson’s October 31, 2019 goal. Meanwhile, the trend of stagnating economic activity across Europe persisted through November 2019. In early December 2019, Japan announced a substantial stimulus package aimed at boosting the nation’s GDP by 1.4% through March 2022. By mid-December 2019, a preliminary trade agreement between the U.S. and China buoyed international equities. European economic activity began to show signs of bottoming and potential recovery, including modest economic growth in Germany. At the end of the fourth quarter of 2019, U.K. Prime Minister Boris Johnson’s Conservative Party secured a majority in the House of Commons, providing a clearer path for the U.K. to exit the European Union. The European Central Bank left its monetary policy rate unchanged in response to early signs of an economic recovery.

Positive international equity performance sharply reversed in the first quarter of 2020. The MSCI EAFE Index returned -20.55% in local currency terms and -22.83% in U.S. dollar terms. In early January 2020, news of the spread of COVID-19 in Wuhan, China emerged. Before the virus spread, Germany and the Eurozone reported that 2019 GDP growth hit a 6-year low of 0.6% and 1.2%, respectively. Additionally, the U.K. formally exited the European Union on January 31, 2020.

At the end of January 2020, China announced the lock down of select cities due to COVID-19. In the ensuing days and weeks, the global rate of COVID-19 infection spread; along with the impact on the global economy. Large international corporations announced disruptions to operations and forecasted meaningful reductions in financial expectations. Amid the virus outbreak, Japan reported a 6.3% contraction in GDP for the fourth quarter of 2019, driven by a sharp decline in household consumption from a higher sales tax rate. At the end of February 2020, many countries within the European Union began reporting COVID-19 infections, with the most significant increase in Northern Italy. An oil price war between Saudi Arabia and Russia added to the market volatility experienced by international equities.

In March 2020, the virus spread in Japan was more contained than in other developed nations. The infection rate in Europe worsened, and many nations began implementing lock down measures, halting economic activity. Notably, Italy became the country with the highest COVID-19 related death rate. The Bank of England announced cuts in interest rates to a record low and agreed to purchase £200 billion in U.K. government bonds. Similarly, the European Central Bank increased bond purchases under its current program and announced a new €750 billion bond-buying program.

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

 

WisdomTree Trust      3  


Table of Contents

Information about Performance and Shareholder Expense Examples (unaudited)

Performance

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

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

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.

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

Shareholder Expense Examples

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

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2019 to March 31, 2020. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 183/366 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

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

Hypothetical example for comparison purposes

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

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

 

4   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree Asia Pacific ex-Japan Fund (AXJL)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    20.0%  

Information Technology

    18.9%  

Communication Services

    13.9%  

Materials

    10.9%  

Energy

    8.0%  

Industrials

    6.7%  

Utilities

    5.1%  

Consumer Staples

    4.9%  

Consumer Discretionary

    4.2%  

Real Estate

    4.2%  

Health Care

    1.7%  

Investment Company

    0.8%  

Other Assets less Liabilities‡

    0.7%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

China Mobile Ltd.

    7.3%  

Taiwan Semiconductor Manufacturing Co., Ltd.

    6.7%  

Samsung Electronics Co., Ltd.

    6.4%  

CNOOC Ltd.

    3.2%  

BHP Group Ltd.

    3.0%  

China Construction Bank Corp., Class H

    2.1%  

Singapore Telecommunications Ltd.

    1.7%  

Hon Hai Precision Industry Co., Ltd.

    1.7%  

Commonwealth Bank of Australia

    1.6%  

CITIC Ltd.

    1.4%  
*

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

The WisdomTree Asia Pacific ex-Japan Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Asia Pacific ex-Japan Index (the ‘‘Index’’). In seeking to track the Index, the Fund invests in dividend-paying large-cap companies in the Asia Pacific ex-Japan region. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -18.50% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). Among countries, the Fund’s underweights to India and South Korea contributed the most to performance, whereas the Fund’s underweight to China and overweights to Australia and Hong Kong were the largest detractors. The Fund’s underweight to the Real Estate sector and overweight to Information Technology sector added the most to performance, whereas the Fund’s overweight to the Energy sector was the largest detractor. Health Care and Information Technology sectors were the only positive performing sectors for the period. The strengthening of the U.S. dollar during the fiscal year also made Asian currencies vulnerable, which detracted from Fund performance.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

  $ 1,000.00     $ 829.90       0.48   $ 2.20  

Hypothetical (5% return before expenses)

  $ 1,000.00     $ 1,022.60       0.48   $ 2.43  

Performance

 

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

Fund NAV Returns

       -18.50      -2.57      -1.16      2.16

Fund Market Price Returns

       -18.40      -2.55      -1.14      2.15

WisdomTree Pacific ex-Japan Dividend/Asia Pacific ex-Japan Spliced Index1

       -18.09      -2.03      -0.64      2.77

MSCI Pacific ex-Japan/MSCI AC Asia Pacific ex-Japan Spliced Index2

       -15.24      -0.42      0.63      3.05
1 

WisdomTree Pacific ex-Japan Dividend Index through June 17, 2011; WisdomTree Asia Pacific ex-Japan Index thereafter.

 

2 

MSCI Pacific ex-Japan Index through June 17, 2011; MSCI AC Asia Pacific ex-Japan Index thereafter.

 

LOGO

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

 

WisdomTree Trust      5  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    34.3%  

Communication Services

    21.4%  

Financials

    9.5%  

Health Care

    8.3%  

Information Technology

    7.8%  

Consumer Staples

    6.9%  

Industrials

    5.5%  

Real Estate

    5.0%  

Utilities

    0.7%  

Materials

    0.4%  

Energy

    0.2%  

Other Assets less Liabilities‡

    0.0%

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Tencent Holdings Ltd.

    13.8%  

Alibaba Group Holding Ltd., ADR

    13.0%  

Meituan Dianping, Class B

    3.6%  

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

    3.3%  

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

    3.1%  

JD.com, Inc., ADR

    3.1%  

Baidu, Inc., ADR

    2.6%  

NetEase, Inc., ADR

    2.1%  

Jiangsu Hengrui Medicine Co., Ltd., Class A

    1.7%  

TAL Education Group, ADR

    1.7%  
*

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

The WisdomTree China ex-State-Owned Enterprises Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree China ex-State-Owned Enterprises Index (the ‘‘Index’’). In seeking to track the Index, the Fund invests in Chinese companies that are not state-owned enterprises, which is defined as government ownership of greater than 20%. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 0.07% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s overweight to the Information Technology sector, underweight to the Industrials sector, and underweight to the Energy sector contributed the most to performance, whereas the Fund’s positions in the Materials and Real Estate sectors were the largest detractors. During the fiscal year, excluding state-owned enterprises added to performance relative to the Fund’s benchmark, as state-owned enterprises lagged in performance when compared to non-state-owned enterprises.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 1,076.50        0.32 %1    $ 1.66  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.40        0.32 %1    $ 1.62  
1 

WisdomTree Asset Management, Inc. has contractually agreed to limit the management fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the WisdomTree Trust for any reason.

Performance

 

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

Fund NAV Returns

       0.07      11.54      8.30      7.60

Fund Market Price Returns

       -0.69      11.25      8.07      7.40

WisdomTree China Dividend ex-Financials/China ex-State-Owned Enterprises Spliced Index2

       0.45      10.98      8.63      7.94

MSCI China Index

       -5.82      7.05      3.57      6.70

FTSE China 50 Index

       -11.49      2.71      0.14      4.32
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on September 19, 2012.

 

2 

WisdomTree China Dividend ex-Financials Index through June 30, 2015; WisdomTree China ex-State-Owned Enterprises Index thereafter.

 

LOGO

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

 

6   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Emerging Markets Consumer Growth Fund (EMCG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Staples

    23.4%  

Consumer Discretionary

    19.2%  

Information Technology

    18.0%  

Communication Services

    14.4%  

Financials

    11.3%  

Real Estate

    4.2%  

Utilities

    4.2%  

Health Care

    3.9%  

Materials

    0.7%  

Energy

    0.3%  

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Samsung Electronics Co., Ltd.

    3.7%  

Tencent Holdings Ltd.

    3.5%  

Alibaba Group Holding Ltd., ADR

    3.4%  

Taiwan Semiconductor Manufacturing Co., Ltd.

    2.8%  

MercadoLibre, Inc.

    1.6%  

SK Hynix, Inc.

    1.1%  

Hindustan Unilever Ltd.

    1.0%  

Housing Development Finance Corp., Ltd.

    1.0%  

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

    0.8%  

JD.com, Inc., ADR

    0.8%  
*

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

The WisdomTree Emerging Markets Consumer Growth Fund (the “Fund”) seeks income and capital appreciation by investing in companies in the consumer and non-consumer sectors that exemplify growth trends in emerging market consumers and their local economies.

The Fund returned -16.43% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). During the fiscal year, the strengthening of the U.S. dollar negatively impacted performance. All country and sector exposures in the Fund had negative returns for the fiscal year. Among countries, the Fund’s underweight in India contributed the least negatively to performance, whereas its positions in China and South Korea contributed most negatively to performance. Additionally, the Fund’s overweights in the Consumer Discretionary and Information Technology sectors and underweight in the Energy sector detracted the least from the Fund’s performance relative to its benchmark, whereas the positions in the Financial sector detracted the most from the Fund’s performance.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 846.20        0.32 %1    $ 1.48  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.40        0.32 %1    $ 1.62  
1 

WisdomTree Asset Management, Inc. has contractually agreed to limit the management fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the WisdomTree Trust for any reason.

Performance

 

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

Fund NAV Returns

       -16.43      -4.57      -3.74      -2.50

Fund Market Price Returns

       -18.18      -5.09      -4.01      -2.80

MSCI Emerging Markets Index

       -17.69      -1.62      -0.37      -0.19
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on September 27, 2013.

 

LOGO

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

 

WisdomTree Trust      7  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    20.9%  

Information Technology

    18.4%  

Communication Services

    15.4%  

Financials

    14.8%  

Consumer Staples

    7.9%  

Materials

    5.6%  

Health Care

    4.8%  

Industrials

    4.4%  

Energy

    4.0%  

Real Estate

    2.4%  

Utilities

    1.1%  

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Alibaba Group Holding Ltd., ADR

    9.1%  

Tencent Holdings Ltd.

    8.8%  

Samsung Electronics Co., Ltd.

    4.8%  

Taiwan Semiconductor Manufacturing Co., Ltd.

    4.4%  

Naspers Ltd., Class N

    1.6%  

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

    1.6%  

Reliance Industries Ltd., GDR

    1.3%  

Lukoil PJSC, ADR

    1.2%  

Meituan Dianping, Class B

    1.2%  

Housing Development Finance Corp., Ltd.

    1.1%  
*

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

The WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets ex-State-Owned Enterprises Index (the ‘‘Index’’). In seeking to track the Index, the Fund invests in emerging market companies that are not state-owned enterprises, which is defined as government ownership of more than 20%. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -13.36% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s overweight to the Information Technology sector, underweight to the Industrials sector, and underweight to the Energy sector added the most to performance, whereas the Fund’s positions in the Materials and Real Estate sectors added the least to performance. In addition, the strengthening of the U.S. dollar negatively impacted Fund performance. The key driver of the Fund’s outperformance relative to its benchmark was the exclusion of state-owned enterprises, as non-state-owned enterprises outperformed state-owned enterprises.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 889.40        0.32 %1    $ 1.51  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.40        0.32 %1    $ 1.62  
1 

WisdomTree Asset Management, Inc. has contractually agreed to limit the management fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the WisdomTree Trust for any reason.

Performance

 

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

Fund NAV Returns

       -13.36      1.03      1.22      1.64

Fund Market Price Returns

       -13.55      0.96      1.24      1.77

WisdomTree Emerging Markets ex-State-Owned Enterprises Index

       -13.27      1.38      2.18      2.59

MSCI Emerging Markets Index

       -17.69      -1.62      -0.37      0.06
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on December 10, 2014.

 

LOGO

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

 

8   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Emerging Markets High Dividend Fund (DEM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    21.8%  

Materials

    19.4%  

Energy

    18.6%  

Information Technology

    13.8%  

Communication Services

    7.3%  

Consumer Discretionary

    4.6%  

Industrials

    4.3%  

Real Estate

    3.9%  

Consumer Staples

    2.7%  

Utilities

    2.6%  

Health Care

    0.6%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Gazprom PJSC, ADR

    4.4%  

China Construction Bank Corp., Class H

    3.6%  

Hon Hai Precision Industry Co., Ltd.

    3.4%  

MMC Norilsk Nickel PJSC, ADR

    3.3%  

China Mobile Ltd.

    2.9%  

Lukoil PJSC, ADR

    2.6%  

Tatneft PJSC, ADR

    2.5%  

Industrial & Commercial Bank of China Ltd., Class H

    2.3%  

Sberbank of Russia PJSC, ADR

    1.9%  

China Petroleum & Chemical Corp., Class H

    1.8%  
*

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

The WisdomTree Emerging Markets High Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets High Dividend Index (the ‘‘Index’’). In seeking to track the Index, the Fund invests in high-dividend-yielding companies in the emerging markets region. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -22.06% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). During the fiscal year, the strengthening of the U.S. dollar negatively impacted performance. All country and sector exposures in the Fund had negative returns for the fiscal year. Among countries, the Fund’s underweight in Brazil and positions in Russia contributed the least negatively to performance, and its positions in China and South Korea contributed most negatively to performance. Among sectors, the Fund’s slight underweight in Financials and position in Materials added the most to performance, whereas the underweights in Information Technology and Communication Services contributed the least. The Fund’s high dividend yielding nature served as a headwind for the Fund, as many high dividend yielding companies are in the Financials and Energy sectors, which underperformed during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 792.10        0.63   $ 2.82  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.85        0.63   $ 3.18  

Performance

 

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

Fund NAV Returns

       -22.06      -3.10      -1.20      -0.55

Fund Market Price Returns

       -22.78      -3.46      -1.24      -0.70

WisdomTree Emerging Markets High Dividend Index

       -21.58      -2.52      -0.48      0.38

MSCI Emerging Markets Index

       -17.69      -1.62      -0.37      0.68

 

LOGO

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

 

WisdomTree Trust      9  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    19.8%  

Information Technology

    18.7%  

Consumer Staples

    11.7%  

Communication Services

    10.0%  

Consumer Discretionary

    9.3%  

Industrials

    7.1%  

Health Care

    6.4%  

Materials

    5.2%  

Utilities

    4.7%  

Energy

    4.1%  

Real Estate

    2.8%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Alibaba Group Holding Ltd., ADR

    3.6%  

Tencent Holdings Ltd.

    2.3%  

Taiwan Semiconductor Manufacturing Co., Ltd.

    1.7%  

China Minsheng Banking Corp., Ltd., Class H

    1.1%  

Postal Savings Bank of China Co., Ltd., Class H

    1.0%  

China Construction Bank Corp., Class H

    1.0%  

Samsung Electronics Co., Ltd.

    1.0%  

People’s Insurance Co. Group of China Ltd. (The), Class H

    0.9%  

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

    0.9%  

Sberbank of Russia PJSC, ADR

    0.9%  
*

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

The WisdomTree Emerging Markets Multifactor Fund (the “Fund”) seeks capital appreciation, by investing in equity securities of emerging markets countries with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation.

The Fund returned -22.44% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). Among sectors, the Fund’s underweight to Financials and Energy and overweight to Information Technology added the most to performance, whereas the Fund’s positions in Consumer Staples and Consumer Discretionary added the least to performance. The Fund’s overweight in China and underweight in Brazil added the most to performance relative to the Fund’s benchmark, whereas the Fund’s overweight in India detracted the most to performance relative to the Fund’s benchmark. During the fiscal year, the Fund utilized forward foreign currency contracts to offset applicable emerging market currency exposures from positions in emerging market equities. The Fund’s use of forward foreign currency contracts detracted from Fund performance.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 823.80        0.48   $ 2.19  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.60        0.48   $ 2.43  

Performance

 

   
        Average Annual Total Return  
        1 Year      Since Inception1  

Fund NAV Returns

       -22.44      -16.19

Fund Market Price Returns

       -23.40      -16.22

MSCI Emerging Markets Index

       -17.69      -10.82
1 

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

 

LOGO

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

 

10   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    16.7%  

Consumer Staples

    13.8%  

Financials

    12.3%  

Materials

    9.9%  

Communication Services

    9.5%  

Industrials

    7.7%  

Consumer Discretionary

    7.4%  

Real Estate

    6.2%  

Health Care

    6.2%  

Energy

    5.5%  

Utilities

    4.4%  

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Tencent Holdings Ltd.

    4.6%  

Taiwan Semiconductor Manufacturing Co., Ltd.

    3.4%  

Samsung Electronics Co., Ltd.

    3.1%  

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

    1.1%  

SK Hynix, Inc.

    0.9%  

Bank of China Ltd., Class H

    0.7%  

Infosys Ltd.

    0.7%  

MMC Norilsk Nickel PJSC, ADR

    0.7%  

Hindustan Unilever Ltd.

    0.7%  

NetEase, Inc., ADR

    0.7%  
*

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

The WisdomTree Emerging Markets Quality Dividend Growth Fund (the “Fund”) seeks income and capital appreciation by investing in dividend-paying companies with growth characteristics in the emerging markets region.

The Fund returned -19.30% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). Among countries, the Fund’s overweight in Taiwan and underweight in India detracted the least from performance, whereas its positions in South Africa and Malaysia contributed most negatively to performance. Among sectors, the Fund’s overweight in Information Technology and positions in the Industrials added the most to performance, whereas positions in Materials and Communication Services contributed the least to performance. The Fund’s focus on quality served as a tailwind for performance, as low quality/weak balance sheet companies were hit the hardest during the global pandemic toward the end of the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 828.80        0.32 %1    $ 1.46  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.40        0.32 %1    $ 1.62  
1 

WisdomTree Asset Management, Inc. has contractually agreed to limit the management fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the WisdomTree Trust for any reason.

Performance

 

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

Fund NAV Returns

       -19.30      -3.16      -1.66      -1.47

Fund Market Price Returns

       -20.32      -3.68      -1.79      -1.84

MSCI Emerging Markets Index

       -17.69      -1.62      -0.37      0.58
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on August 1, 2013.

 

LOGO

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

 

WisdomTree Trust      11  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    18.9%  

Industrials

    13.5%  

Consumer Discretionary

    12.1%  

Real Estate

    11.8%  

Materials

    11.4%  

Financials

    10.5%  

Consumer Staples

    6.6%  

Utilities

    5.4%  

Health Care

    4.1%  

Communication Services

    2.7%  

Energy

    2.1%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    0.7%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Guangzhou R&F Properties Co., Ltd., Class H

    1.1%  

Transmissora Alianca de Energia Eletrica S.A.

    1.0%  

Wistron Corp.

    0.9%  

WPG Holdings Ltd.

    0.8%  

Highwealth Construction Corp.

    0.8%  

Powertech Technology, Inc.

    0.8%  

Micro-Star International Co., Ltd.

    0.7%  

Synnex Technology International Corp.

    0.6%  

Tripod Technology Corp.

    0.6%  

SPAR Group Ltd. (The)

    0.5%  
*

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

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

The Fund returned -26.95% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). During the fiscal year, the strengthening of the U.S. dollar negatively impacted performance. All country and sector exposures in the Fund had negative returns for the fiscal year. Among countries, the Fund’s overweight in Taiwan and underweight in India contributed the least negatively to performance, whereas its positions in South Africa and Malaysia contributed most negatively to performance. The Fund’s overweight in the Information Technology sector and positions in the Industrials sector added the most to performance relative to the Fund’s benchmark, whereas the positions in the Materials and Communication Services sectors detracted the most to performance relative to the Fund’s benchmark.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

  $ 1,000.00     $ 752.60       0.63   $ 2.76  

Hypothetical (5% return before expenses)

  $ 1,000.00     $ 1,021.85       0.63   $ 3.18  

Performance

 

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

Fund NAV Returns

       -26.95      -6.15      -2.44      0.38

Fund Market Price Returns

       -27.02      -6.30      -2.32      0.35

WisdomTree Emerging Markets SmallCap Dividend Index

       -26.21      -5.38      -1.55      1.43

MSCI Emerging Markets Small Cap Index

       -28.98      -9.64      -5.17      -1.34

MSCI Emerging Markets Index

       -17.69      -1.62      -0.37      0.68

 

LOGO

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

 

12   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    20.9%  

Industrials

    13.5%  

Information Technology

    12.3%  

Materials

    10.6%  

Consumer Staples

    10.2%  

Consumer Discretionary

    9.5%  

Communication Services

    5.9%  

Energy

    5.1%  

Real Estate

    4.7%  

Financials

    4.4%  

Utilities

    1.8%  

Investment Company

    0.3%  

Other Assets less Liabilities‡

    0.8%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Novo Nordisk A/S, Class B

    7.3%  

British American Tobacco PLC

    6.6%  

China Overseas Land & Investment Ltd.

    3.5%  

Canadian National Railway Co.

    2.8%  

ASML Holding N.V.

    2.8%  

RELX PLC

    2.7%  

Telenor ASA

    2.7%  

Fortescue Metals Group Ltd.

    2.6%  

CSL Ltd.

    2.5%  

Roche Holding AG, Bearer Shares

    2.4%  
*

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

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

The Fund returned -2.01% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). Among sectors, the Fund’s overweight in Health Care contributed the most positively to performance, whereas its overweight in Communication Services and Consumer Discretionary contributed most negatively to performance. Among countries, the Fund’s positions in Japan added the most to performance. The Fund’s focus on quality served as a tailwind for performance, as low quality/weak balance sheet companies were hit the hardest during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 923.00        0.58   $ 2.79  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -2.01      4.30      3.15      3.11

Fund Market Price Returns

       -2.95      4.11      2.99      2.97

WisdomTree Global ex-U.S. Quality Dividend Growth Index

       -1.65      4.94      3.81      3.83

MSCI AC World ex-USA Growth Index

       -7.31      2.53      2.10      3.91

MSCI AC World ex-USA Index

       -15.57      -1.96      -0.64      2.05

 

LOGO

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

 

WisdomTree Trust      13  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Global ex-U.S. Real Estate Fund (DRW)

 

Sector Breakdown

 

Sector   % of Net Assets  

Real Estate

    99.3%  

Financials

    0.3%  

Consumer Discretionary

    0.0%

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Sun Hung Kai Properties Ltd.

    5.2%  

China Overseas Land & Investment Ltd.

    4.1%  

Henderson Land Development Co., Ltd.

    2.7%  

Vonovia SE

    2.5%  

Link REIT

    1.9%  

Swire Properties Ltd.

    1.9%  

Unibail-Rodamco-Westfield

    1.9%  

Daiwa House Industry Co., Ltd.

    1.8%  

New World Development Co., Ltd.

    1.7%  

Country Garden Holdings Co., Ltd.

    1.7%  
*

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

The WisdomTree Global ex-U.S. Real Estate Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Global ex-U.S. Real Estate Index (the ‘‘Index’’). In seeking to track the Index, the Fund invests in dividend-paying companies in the Real Estate sector in developed and emerging equity markets, ex-U.S. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -25.74% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). Real Estate Investment Trust (“REITs”) were the largest detractor from performance whereas the only sub-sectors to generate positive total returns for the period were in Specialized and Health Care REITs. The Fund’s underweight in the United Kingdom added the most to performance relative to its benchmark, whereas overweights in Hong Kong and Australia detracted the most from performance versus its benchmark.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 768.60        0.58   $ 2.56  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -25.74      -1.83      -0.12      4.25

Fund Market Price Returns

       -25.92      -1.97      -0.16      4.17

WisdomTree International Real Estate/Global ex-U.S. Real Estate Spliced Index1

       -25.68      -1.60      0.10      4.43

Dow Jones Global ex-U.S. Select Real Estate Securities Index

       -25.04      -5.04      -3.59      3.26
1 

WisdomTree International Real Estate Index through June 17, 2011; WisdomTree Global ex-U.S. Real Estate Index thereafter.

 

LOGO

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

 

14   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Global High Dividend Fund (DEW)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    17.8%  

Communication Services

    12.5%  

Energy

    12.4%  

Consumer Staples

    10.4%  

Health Care

    9.0%  

Utilities

    8.6%  

Information Technology

    7.6%  

Industrials

    5.7%  

Real Estate

    5.4%  

Materials

    5.4%  

Consumer Discretionary

    4.2%  

Investment Company

    0.4%  

Other Assets less Liabilities‡

    0.6%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

AT&T, Inc.

    3.6%  

Verizon Communications, Inc.

    2.8%  

Exxon Mobil Corp.

    2.5%  

Pfizer, Inc.

    2.3%  

Philip Morris International, Inc.

    2.1%  

AbbVie, Inc.

    2.1%  

Coca-Cola Co. (The)

    1.8%  

Chevron Corp.

    1.7%  

Altria Group, Inc.

    1.7%  

Cisco Systems, Inc.

    1.6%  
*

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

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

The Fund returned -22.46% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). All country and sector exposures of the Fund had negative returns for the fiscal year. Among countries, the Fund’s positions in Canada and Hong Kong contributed the least negatively to performance, whereas positions in the U.S. contributed most negatively to performance. Additionally, the Fund’s positions in the Industrials and Utilities sectors contributed the most positively to performance, while its positions in the Energy and Information Technology sectors contributed most negatively. During the fiscal year, the Fund’s focus on high dividend yielding stocks served as a headwind for the Fund, as many high dividend yielding companies are in the Financials and Energy sector, which underperformed. However, dividend income helped to offset some of the negative returns in the underlying stocks.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 758.90        0.58   $ 2.55  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -22.46      -4.91      -1.25      2.26

Fund Market Price Returns

       -22.96      -5.22      -1.39      2.11

WisdomTree Global High Dividend Index

       -22.59      -5.10      -1.42      2.24

MSCI AC World Index

       -11.26      1.50      2.85      5.88

 

LOGO

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

 

WisdomTree Trust      15  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree India Earnings Fund (EPI)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    21.5%  

Energy

    21.1%  

Information Technology

    17.2%  

Materials

    10.1%  

Consumer Discretionary

    6.5%  

Consumer Staples

    6.3%  

Utilities

    5.5%  

Health Care

    4.9%  

Industrials

    4.5%  

Communication Services

    1.3%  

Real Estate

    0.5%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    0.6%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Reliance Industries Ltd.

    11.8%  

Housing Development Finance Corp., Ltd.

    8.2%  

Infosys Ltd.

    6.9%  

Tata Consultancy Services Ltd.

    4.3%  

Oil & Natural Gas Corp., Ltd.

    2.4%  

HCL Technologies Ltd.

    2.2%  

Hindustan Unilever Ltd.

    1.9%  

Coal India Ltd.

    1.8%  

Kotak Mahindra Bank Ltd.

    1.8%  

Indian Oil Corp., Ltd.

    1.6%  
*

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

The WisdomTree India Earnings Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree India Earnings Index (the ‘‘Index’’). In seeking to track the Index, the Fund invests in profitable companies in the Indian equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -37.84% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). All equity sectors in India experienced double-digit losses during the fiscal year. The Fund’s overweight to the Utilities sector detracted the least from performance relative to the Fund’s benchmark, whereas the Fund’s positions in the Consumer Staples, Materials, and Energy sectors detracted the most from performance relative to the benchmark. Indian equity market returns were in line with the draw downs of the U.S. equity markets and other developed markets.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 682.50        0.84   $ 3.54  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,020.80        0.84   $ 4.25  

Performance

 

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

Fund NAV Returns

       -37.84      -11.48      -5.47      -2.60

Fund Market Price Returns

       -38.01      -11.61      -5.60      -2.65

WisdomTree India Earnings Index

       -37.95      -10.84      -4.58      -1.57

MSCI India Index

       -30.86      -6.64      -3.50      -0.42

 

LOGO

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

 

16   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    25.5%  

Information Technology

    20.6%  

Consumer Staples

    12.8%  

Energy

    10.3%  

Materials

    9.1%  

Consumer Discretionary

    8.2%  

Health Care

    5.7%  

Communication Services

    4.7%  

Industrials

    2.5%  

Real Estate

    0.6%  

Other Assets less Liabilities‡

    0.0%

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Reliance Industries Ltd.

    10.3%  

Housing Development Finance Corp., Ltd.

    10.2%  

Infosys Ltd.

    9.4%  

Tata Consultancy Services Ltd.

    6.9%  

Hindustan Unilever Ltd.

    6.4%  

Kotak Mahindra Bank Ltd.

    4.3%  

ICICI Bank Ltd.

    4.1%  

Bharti Airtel Ltd.

    3.4%  

Maruti Suzuki India Ltd.

    2.1%  

HCL Technologies Ltd.

    1.9%  
*

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

The WisdomTree India ex-State-Owned Enterprises Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree India ex-State-Owned Enterprises Index (the ‘‘Index’’). In seeking to track the Index, the Fund invests in Indian companies that are not state-owned, which is defined as government ownership greater than 20%. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -28.50% at net asset value (“NAV”) for the fiscal period ended March 31, 2020 (for more complete performance information please see the table below). During the fiscal period, all equity sectors in India experienced double-digit losses. The Fund’s overweight to the Information Technology sector, underweight to the Industrials sector, and underweight to the Energy sector contributed the least negatively to performance relative to the benchmark, whereas the Fund’s positions in the Materials and Real Estate sectors detracted the most to performance relative to the Fund’s benchmark. Indian equity market returns were in line with the draw downs of the U.S. equity markets and other developed markets. A key driver of outperformance relative to the benchmark was due to the exclusion of state-owned-enterprises, which lagged against non-state-owned enterprises.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 732.00        0.58   $ 2.51  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

   
        Cumulative Total Return  
        Since Inception1  

Fund NAV Returns

       -28.50

Fund Market Price Returns

       -29.38

WisdomTree India ex-State-Owned Enterprises Index

       -27.98

MSCI India Index

       -30.94
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on April 4, 2019.

 

LOGO

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

 

WisdomTree Trust      17  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Middle East Dividend Fund (GULF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    59.7%  

Communication Services

    11.9%  

Materials

    8.8%  

Real Estate

    5.3%  

Industrials

    4.7%  

Energy

    2.7%  

Consumer Discretionary

    2.0%  

Utilities

    1.8%  

Consumer Staples

    1.2%  

Health Care

    0.2%  

Other Assets less Liabilities‡

    1.7%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Qatar National Bank QPSC

    8.2%  

National Bank of Kuwait SAKP

    7.2%  

Al Rajhi Bank

    4.8%  

Saudi Basic Industries Corp.

    4.4%  

Emirates Telecommunications Group Co. PJSC

    4.1%  

First Abu Dhabi Bank PJSC

    3.6%  

National Commercial Bank

    3.3%  

Arab Bank PLC

    3.3%  

Saudi Telecom Co.

    2.9%  

Kuwait Finance House KSCP

    2.8%  
*

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

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

The Fund returned -21.76% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s largest country weights are in Saudi Arabia, Qatar, and the United Arab Emirates (“UAE”). Bahrain was the only country that generated positive performance over the fiscal year. Among countries, exposure to the UAE was the weakest performer. Among sectors, the Fund’s position in Health Care was the best performing sector, but also among the smallest weights in the strategy. The Fund’s positions in companies in Industrials and Materials were among the weakest performers.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 793.70        0.88   $ 3.95  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,020.60        0.88   $ 4.45  

Performance

 

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

Fund NAV Returns

       -21.76      -0.96      -1.73      3.91

Fund Market Price Returns

       -22.98      -1.54      -2.13      3.31

WisdomTree Middle East Dividend Index

       -20.74      0.00      -0.38      4.85

MSCI Arabian Markets ex-Saudi Arabia Index

       -17.87      -3.18      -2.84      0.54

 

LOGO

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

 

18   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Modern Tech Platforms Fund (PLAT)

 

Sector Breakdown

 

Sector   % of Net Assets  

Communication Services

    31.1%  

Consumer Discretionary

    22.0%  

Information Technology

    19.6%  

Financials

    13.8%  

Industrials

    9.1%  

Health Care

    4.1%  

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Teladoc Health, Inc.

    4.2%  

Pinduoduo, Inc., ADR

    2.4%  

Delivery Hero SE

    2.4%  

TeamViewer AG

    2.2%  

London Stock Exchange Group PLC

    2.2%  

LINE Corp., ADR

    2.1%  

Slack Technologies, Inc., Class A

    2.0%  

Coupa Software, Inc.

    2.0%  

Bilibili, Inc., ADR

    1.9%  

MarketAxess Holdings, Inc.

    1.9%  
*

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

The WisdomTree Modern Tech Platforms Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Modern Tech Platforms Index (the ‘‘Index’’). In seeking to track the Index, the Fund invests in mid and large-cap companies on a U.S. or European stock exchange that are generating substantial revenue from a modern platform business. A modern platform business is a multi-sided business model focused on creating value by facilitating interactions between two or more interdependent groups through technology. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -5.61% at net asset value (“NAV”) for the fiscal period ended March 31, 2020 (for more complete performance information please see the table below). Among sectors, the Fund’s overweight in Communication Services contributed the most positively to performance relative to the Fund’s benchmark whereas its overweight in Consumer Discretionary and slight underweight in Information Technology contributed most negatively to performance relative to the Fund’s benchmark. The Fund’s relative underweight in the U.S. detracted the least from performance relative to the Fund’s benchmark, whereas the positions in China detracted the most from performance relative to the Fund’s benchmark.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 933.00        0.45   $ 2.17  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.75        0.45   $ 2.28  

Performance

 

   
        Cumulative Total Return  
        Since Inception1  

Fund NAV Returns

       -5.61

Fund Market Price Returns

       -5.73

WisdomTree Modern Tech Platforms Index

       -5.47

MSCI AC World Index

       -11.18

S&P 500® Index

       -7.96
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on May 22, 2019.

 

LOGO

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

 

WisdomTree Trust      19  


Table of Contents

Description of Terms and Indexes (unaudited)

 

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

Brexit is an abbreviation for “British exit,” referring to the U.K.’s decision in a June 2016 referendum to leave the European Union.

Correlation is a statistical measure of how two sets of returns move in relation to each other. Correlation coefficients range from -1 to 1. A correlation of 1 means the two subjects of analysis move in lockstep with each other. A correlation of -1 means the two subjects of analysis have moved in exactly the opposite direction.

 

The Dow Jones Global ex-U.S. Select Real Estate Securities Index is a float-adjusted

market capitalization weighted index that defines and measures the investable universe of

publicly traded real estate securities in countries outside the U.S.

Factors generally are attributes that are based on its fundamentals or share price behavior.

Five Star Movement is a political party in Italy. The party was founded on October 4, 2009 by Beppe Grillo, a comedian and blogger, and Gianroberto Casaleggio, a web strategist.

 

The FTSE China 50 Index is a capitalization weighted index that is comprised of the 50

largest and most liquid Chinese securities.

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a country’s economic health.

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

Momentum is generally characterized by assets with recent price increase trends over time. This term is also associated with the momentum factor which associates these stock characteristics with excess return vs. the market over time.

 

The MSCI AC Asia Pacific ex-Japan Index is comprised of large- and mid-capitalization

segments of emerging market and developed market countries in the Asia Pacific region,

excluding Japan.

The MSCI AC World ex-USA Growth Index is comprised of growth stocks in the

developed and emerging markets covered by MSCI, excluding the U.S.

The MSCI AC World Index is comprised of the world stock market indexes covered by

MSCI.

The MSCI ACWI ex-USA Index is comprised of large- and mid-capitalization segments

of the developed and emerging markets covered by MSCI, excluding the U.S.

The MSCI Arabian Markets ex-Saudi Arabia Index is a free float-adjusted market

capitalization index that aims to represent the universe of companies in the Gulf

Cooperation Council (GCC) countries, excluding Saudi Arabia, plus Jordan, Egypt,

Morocco, Tunisia and Lebanon.

The MSCI China Index is a free float-adjusted market capitalization weighted index

designed to measure the performance of the Chinese equity market.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index

that is designed to measure emerging markets equity performance.

The MSCI Emerging Markets Small Cap Index is a free float-adjusted market

capitalization index that is designed to measure the performance of small capitalization

equities in the emerging markets.

The MSCI India Index is a free float-adjusted market capitalization index that is designed

to measure the performance of the Indian equity market.

The MSCI Pacific ex-Japan Index is a subset of the MSCI EAFE Index that is comprised of

stocks in Australia, Hong Kong, Singapore and New Zealand.

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

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

The WisdomTree Asia Pacific ex-Japan Index is comprised of dividend-paying companies incorporated in emerging market and developed countries in the Pacific region, excluding Japan.

 

20   WisdomTree Trust


Table of Contents

Description of Terms and Indexes (unaudited) (continued)

 

The WisdomTree China Dividend ex-Financials Index is comprised of Chinese dividend

paying stocks outside the Financials sector.

The WisdomTree China ex-State-Owned Enterprises Index measures the performance of

Chinese stocks that are not state-owned enterprises. WisdomTree Investments, Inc., as index provider, defines state-owned enterprises as companies with over 20% government ownership.

The WisdomTree Emerging Markets ex-State-Owned Enterprises Index is a modified

market capitalization weighted index that consists of common stocks in emerging markets, excluding common stocks of “state-owned enterprises.” WisdomTree Investments, Inc., as index provider, defines state-owned enterprises as companies with over 20% government ownership.

The WisdomTree Emerging Markets High Dividend Index is comprised of the highest dividend-yielding stocks selected from the WisdomTree Emerging Markets Dividend Index.

The WisdomTree Emerging Markets SmallCap Dividend Index is comprised of primarily small-capitalization stocks selected from the WisdomTree Emerging Markets Dividend Index.

The WisdomTree Global ex-U.S. Quality Dividend Growth Index is comprised of growth companies selected from developed and emerging markets outside the U.S.

The WisdomTree Global ex-U.S. Real Estate Index is comprised of companies in developed and emerging markets outside of Canada and the U.S., which WisdomTree classifies as being Global Real Estate securities.

The WisdomTree Global High Dividend Index is comprised of high dividend-paying companies selected from the WisdomTree Global Dividend Index.

The WisdomTree India Earnings Index is a fundamentally weighted index that is comprised of companies incorporated and traded in India that are profitable and that are eligible to be purchased by foreign investors as of the index measurement date.

The WisdomTree India ex-State-Owned Enterprises Index measures the performance of Indian stocks that are not state owned enterprises. State owned enterprises are defined as government ownership of more than 20% of outstanding shares of companies.

The WisdomTree International Real Estate Index is comprised of companies in developed markets outside of the U.S. and Canada that pay regular cash dividends and that WisdomTree Investments classifies as being part of the International Real Estate sector.

The WisdomTree Middle East Dividend Index is comprised of companies in the Middle East region that pay regular cash dividends on shares of common stock and that meet specified requirements as of the index measurement date.

The WisdomTree Modern Tech Platforms Index is an equal-weighted index that is designed to provide exposure to mid and large-cap companies that are generating substantial revenue from a modern platform business. A modern platform business is a multi-sided business model focused on creating value by facilitating interactions between two or more interdependent groups through technology.

The WisdomTree Pacific ex-Japan Dividend Index is comprised of dividend-paying companies incorporated in the Pacific region, excluding Japan.

The Dow Jones Global ex-U.S. Select Real Estate Securities Index is calculated, distributed and marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC, and has been licensed for use.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s (“S&P”), a division of The McGraw-Hill Companies, Inc. and is licensed for use by WisdomTree Investments, Inc. Neither MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such

 

WisdomTree Trust      21  


Table of Contents

Description of Terms and Indexes (unaudited) (concluded)

 

standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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

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

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

*    *    *    *    *    *

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

 

CURRENCY ABBREVIATIONS:
AUD   Australian dollar
BRL   Brazilian real
CAD   Canadian dollar
CHF   Swiss franc
CNY   Chinese yuan
CZK   Czech koruna
DKK   Danish krone
EUR   Euro
GBP   British pound
HKD   Hong Kong dollar
HUF   Hungary forint
IDR   Indonesian rupiah
ILS   Israeli new shekel
INR   Indian rupee
JPY   Japanese yen
KRW   South Korean won
MXN   Mexican peso
MYR   Malaysian ringgit
SEK   Swedish krona
RUB   Russian ruble
THB   Thai baht
TRY   Turkish new lira
TWD   New Taiwan dollar
USD   U.S. dollar
ZAR   South African rand

 

OTHER ABBREVIATIONS:
ADR   American Depositary Receipt
CVA   Certificaten Van Aandelen (Certificate of Stock)
GDR   Global Depositary Receipt
NVDR   Non-Voting Depositary Receipt
RSP   Risparmio Italian Savings Shares

 

22   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree Asia Pacific ex-Japan Fund (AXJL)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.5%

 

Australia – 19.5%

 

AGL Energy Ltd.

     8,915      $ 93,796  

APA Group

     11,202        70,344  

Aristocrat Leisure Ltd.(a)

     2,419        31,610  

ASX Ltd.

     666        31,424  

Aurizon Holdings Ltd.

     18,666        48,326  

Australia & New Zealand Banking Group Ltd.

     16,001        166,096  

BHP Group Ltd.(a)

     36,407        645,759  

Brambles Ltd.

     9,311        60,179  

Cochlear Ltd.

     249        28,567  

Coles Group Ltd.

     4,916        45,614  

Commonwealth Bank of Australia

     9,194        347,873  

CSL Ltd.

     1,186        215,358  

Fortescue Metals Group Ltd.

     35,870        219,542  

Insurance Australia Group Ltd.

     9,202        34,919  

Macquarie Group Ltd.

     1,467        76,993  

National Australia Bank Ltd.

     16,715        170,643  

Newcrest Mining Ltd.

     1,641        23,151  

Origin Energy Ltd.

     12,463        33,411  

Qantas Airways Ltd.

     14,641        28,944  

QBE Insurance Group Ltd.

     5,672        29,855  

Ramsay Health Care Ltd.

     1,130        39,616  

REA Group Ltd.(a)

     384        18,095  

Rio Tinto Ltd.

     4,431        229,353  

Santos Ltd.

     11,754        24,604  

Sonic Healthcare Ltd.

     3,338        49,707  

South32 Ltd.

     55,231        59,664  

Suncorp Group Ltd.

     6,277        35,076  

Sydney Airport

     24,046        82,270  

Tabcorp Holdings Ltd.

     20,915        32,387  

Telstra Corp., Ltd.

     98,846        185,731  

Transurban Group

     23,402        172,451  

Treasury Wine Estates Ltd.

     3,993        24,513  

Wesfarmers Ltd.

     11,783        247,148  

Westpac Banking Corp.

     21,316        215,267  

WiseTech Global Ltd.(a)

     809        8,467  

Woodside Petroleum Ltd.

     12,179        135,740  

Woolworths Group Ltd.

     8,225        176,697  
     

 

 

 
Total Australia               4,139,190  
China – 27.8%      

AAC Technologies Holdings, Inc.(a)

     5,900        30,600  

Agricultural Bank of China Ltd. Class H

     170,900        68,573  

Anhui Conch Cement Co., Ltd. Class H

     12,000        83,371  

ANTA Sports Products Ltd.

     3,000        22,043  

Bank of China Ltd. Class H

     499,055        191,228  

Bank of Communications Co., Ltd. Class H

     138,955        85,156  

China CITIC Bank Corp., Ltd. Class H

     69,800        34,491  

China Conch Venture Holdings Ltd.

     7,500        33,480  

China Construction Bank Corp. Class H

     548,400        448,574  

China Gas Holdings Ltd.

     7,100        24,733  

China Jinmao Holdings Group Ltd.

     58,000        37,565  

China Merchants Bank Co., Ltd. Class H

     11,204        50,593  

China Mobile Ltd.

     207,634      1,544,350  

China Overseas Land & Investment Ltd.

     39,565        122,765  

China Pacific Insurance Group Co., Ltd. Class H

     11,000        33,280  

China Petroleum & Chemical Corp. Class H

     527,161        259,809  

China Resources Beer Holdings Co., Ltd.

     4,300        19,639  

China Resources Cement Holdings Ltd.

     36,000        42,963  

China Resources Gas Group Ltd.

     4,000        20,127  

China Resources Land Ltd.

     10,300        42,524  

China Shenhua Energy Co., Ltd. Class H

     50,536        96,235  

China Unicom Hong Kong Ltd.

     124,000        71,512  

CITIC Ltd.

     292,400        305,947  

CNOOC Ltd.

     642,061        673,464  

Country Garden Holdings Co., Ltd.(a)

     43,000        52,038  

CSPC Pharmaceutical Group Ltd.

     17,300        34,641  

ENN Energy Holdings Ltd.

     2,800        27,112  

Fosun International Ltd.

     100,000        115,599  

Geely Automobile Holdings Ltd.

     29,800        43,983  

Guangdong Investment Ltd.

     51,500        99,267  

Hengan International Group Co., Ltd.

     9,100        68,506  

Industrial & Commercial Bank of China Ltd. Class H

     404,270        276,958  

Kunlun Energy Co., Ltd.

     36,000        21,040  

Lenovo Group Ltd.

     148,000        79,433  

Longfor Group Holdings Ltd.(b)

     6,000        29,222  

PetroChina Co., Ltd. Class H

     223,419        81,863  

PICC Property & Casualty Co., Ltd. Class H

     24,500        23,707  

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

     12,646        124,243  

Postal Savings Bank of China Co., Ltd. Class H(b)

     44,000        26,794  

Shenzhou International Group Holdings Ltd.

     3,500        37,209  

Sun Art Retail Group Ltd.

     39,000        57,864  

Sunac China Holdings Ltd.

     7,000        32,422  

Tencent Holdings Ltd.

     4,300        210,925  

Want Want China Holdings Ltd.

     65,800        47,710  

WH Group Ltd.(b)

     63,000        58,929  
     

 

 

 
Total China               5,892,487  
Hong Kong – 9.5%      

AIA Group Ltd.

     19,725        178,522  

BOC Hong Kong Holdings Ltd.

     58,889        162,971  

Chow Tai Fook Jewellery Group Ltd.

     27,600        19,549  

CLP Holdings Ltd.

     22,104        203,903  

Galaxy Entertainment Group Ltd.

     19,000        101,362  

Hang Lung Properties Ltd.

     20,000        40,615  

Hang Seng Bank Ltd.

     9,103        155,614  

Henderson Land Development Co., Ltd.

     21,775        83,016  

Hong Kong & China Gas Co., Ltd.

     83,279        137,314  

Hong Kong Exchanges & Clearing Ltd.

     3,562        107,445  

MTR Corp., Ltd.

     39,180        202,449  

New World Development Co., Ltd.

     47,857        51,494  

Power Assets Holdings Ltd.

     25,079        149,971  

Sino Land Co., Ltd.

     30,924        39,259  

Sun Hung Kai Properties Ltd.

     12,034        158,675  

Swire Pacific Ltd. Class A

     4,000        25,778  

Swire Properties Ltd.

     21,400        60,189  

Techtronic Industries Co., Ltd.

     8,000        51,917  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Table of Contents

Schedule of Investments (continued)

WisdomTree Asia Pacific ex-Japan Fund (AXJL)

March 31, 2020

 

 

 

Investments    Shares      Value  

Wharf Holdings Ltd. (The)(a)

     12,350      $ 21,893  

Wheelock & Co., Ltd.

     8,000        54,600  
     

 

 

 
Total Hong Kong               2,006,536  
India – 3.9%      

Bharat Petroleum Corp., Ltd.

     7,654        32,062  

Bharti Infratel Ltd.

     15,762        33,336  

Coal India Ltd.

     26,753        49,527  

Hero MotoCorp., Ltd.

     921        19,436  

Hindustan Petroleum Corp., Ltd.

     7,782        19,555  

Hindustan Unilever Ltd.

     2,519        76,534  

Housing Development Finance Corp., Ltd.

     2,318        50,039  

Indian Oil Corp., Ltd.

     35,042        37,821  

Infosys Ltd.

     540        4,579  

Infosys Ltd. ADR(a)

     18,203        149,447  

ITC Ltd.

     20,922        47,485  

Larsen & Toubro Ltd. GDR(c)

     1,606        17,313  

Mahindra & Mahindra Ltd.

     3,354        12,633  

Maruti Suzuki India Ltd.

     423        23,978  

Power Grid Corp. of India Ltd.

     17,659        37,138  

Reliance Industries Ltd. GDR(b)

     1,837        56,580  

Tata Consultancy Services Ltd.

     3,508        84,677  

Tech Mahindra Ltd.

     2,947        22,029  

Vedanta Ltd.

     26,117        22,336  

Vedanta Ltd. ADR

     6,138        21,851  
     

 

 

 
Total India               818,356  
Indonesia – 1.2%      

Astra International Tbk PT

     159,461        38,130  

Bank Central Asia Tbk PT

     16,275        27,566  

Bank Mandiri Persero Tbk PT

     74,048        21,247  

Bank Rakyat Indonesia Persero Tbk PT

     194,000        35,922  

Gudang Garam Tbk PT

     6,800        17,135  

Telekomunikasi Indonesia Persero Tbk PT

     436,900        84,648  

Unilever Indonesia Tbk PT

     47,275        21,014  
     

 

 

 
Total Indonesia               245,662  
Malaysia – 1.8%      

CIMB Group Holdings Bhd

     34,500        28,750  

DiGi.Com Bhd

     36,200        36,451  

Malayan Banking Bhd

     43,894        75,697  

Maxis Bhd

     25,000        30,961  

MISC Bhd

     13,600        23,422  

Nestle Malaysia Bhd

     300        9,493  

Petronas Chemicals Group Bhd

     29,708        34,728  

Petronas Gas Bhd

     9,100        32,440  

Public Bank Bhd

     12,390        45,602  

Tenaga Nasional Bhd

     25,300        70,395  
     

 

 

 
Total Malaysia               387,939  
New Zealand – 0.3%      

Meridian Energy Ltd.

     26,917        64,469  
Philippines – 0.2%

 

Manila Electric Co.

     4,480        19,819  

SM Investments Corp.

     2,024        32,553  
     

 

 

 
Total Philippines               52,372  
Singapore – 5.2%      

CapitaLand Ltd.

     15,800      31,626  

DBS Group Holdings Ltd.

     11,917        155,423  

Genting Singapore Ltd.

     109,800        53,209  

Jardine Cycle & Carriage Ltd.

     3,678        50,810  

Keppel Corp., Ltd.(a)

     15,684        58,270  

Oversea-Chinese Banking Corp., Ltd.

     18,217        110,542  

Singapore Airlines Ltd.(a)

     9,157        36,915  

Singapore Technologies Engineering Ltd.

     27,125        59,437  

Singapore Telecommunications Ltd.

     203,577        363,160  

United Overseas Bank Ltd.

     6,598        90,130  

Wilmar International Ltd.

     45,200        102,536  
     

 

 

 
Total Singapore               1,112,058  
South Korea – 11.0%      

Hana Financial Group, Inc.

     1,866        35,409  

Hyundai Motor Co.

     1,036        75,486  

KB Financial Group, Inc.

     1,872        53,130  

Kia Motors Corp.

     1,381        29,495  

Korea Zinc Co., Ltd.

     89        26,027  

KT&G Corp.

     1,284        78,790  

LG Chem Ltd.

     235        58,878  

LG Corp.

     945        45,800  

Lotte Chemical Corp.

     182        28,855  

NCSoft Corp.

     56        29,993  

POSCO

     814        107,655  

Samsung Electro-Mechanics Co., Ltd.

     376        30,176  

Samsung Electronics Co., Ltd.

     34,654        1,359,287  

Samsung Fire & Marine Insurance Co., Ltd.

     187        23,656  

Samsung Life Insurance Co., Ltd.

     407        14,376  

Shinhan Financial Group Co., Ltd.

     1,804        42,383  

SK Holdings Co., Ltd.

     203        27,932  

SK Hynix, Inc.

     2,359        161,420  

SK Innovation Co., Ltd.

     633        45,238  

SK Telecom Co., Ltd.

     273        39,694  

Woori Financial Group, Inc.

     2,962        18,614  
     

 

 

 
Total South Korea               2,332,294  
Taiwan – 16.5%      

ASE Technology Holding Co., Ltd.

     24,526        47,525  

Cathay Financial Holding Co., Ltd.

     23,423        27,341  

Chang Hwa Commercial Bank Ltd.

     7,000        4,409  

China Steel Corp.

     124,078        77,750  

Chunghwa Telecom Co., Ltd.

     34,436        122,410  

CTBC Financial Holding Co., Ltd.

     90,389        53,501  

Delta Electronics, Inc.

     17,415        69,392  

E.Sun Financial Holding Co., Ltd.

     36,000        28,868  

Far EasTone Telecommunications Co., Ltd.

     19,000        39,770  

First Financial Holding Co., Ltd.

     50,270        32,664  

Formosa Chemicals & Fibre Corp.

     64,685        143,310  

Formosa Petrochemical Corp.

     19,511        52,517  

Formosa Plastics Corp.

     61,444        152,586  

Fubon Financial Holding Co., Ltd.

     29,803        37,006  

Hon Hai Precision Industry Co., Ltd.

     153,625        355,088  

Hotai Motor Co., Ltd.

     3,000        48,708  

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Asia Pacific ex-Japan Fund (AXJL)

March 31, 2020

 

 

 

Investments    Shares      Value  

MediaTek, Inc.

     5,000      $ 54,147  

Mega Financial Holding Co., Ltd.

     60,827        57,224  

Nan Ya Plastics Corp.

     90,537        163,761  

Nanya Technology Corp.

     26,000        46,168  

President Chain Store Corp.

     4,000        37,432  

Quanta Computer, Inc.

     43,000        85,598  

Shanghai Commercial & Savings Bank Ltd. (The)

     18,000        23,421  

Taiwan Cement Corp.

     84,000        109,717  

Taiwan Cooperative Financial Holding Co., Ltd.

     41,000        24,878  

Taiwan Mobile Co., Ltd.

     18,100        59,792  

Taiwan Semiconductor Manufacturing Co., Ltd.

     156,241        1,415,605  

Uni-President Enterprises Corp.

     44,346        96,196  

Yuanta Financial Holding Co., Ltd.

     62,000        31,880  
     

 

 

 
Total Taiwan               3,498,664  
Thailand – 1.6%      

Advanced Info Service PCL NVDR

     8,400        51,448  

Airports of Thailand PCL NVDR

     16,340        25,269  

Charoen Pokphand Foods PCL NVDR

     31,500        23,324  

CP ALL PCL

     18,500        34,246  

Intouch Holdings PCL NVDR

     16,100        24,530  

PTT Exploration & Production PCL

     13,413        27,588  

PTT Global Chemical PCL

     27,394        25,460  

PTT PCL NVDR

     87,100        81,613  

Siam Cement PCL (The) NVDR

     3,471        34,268  

Siam Commercial Bank PCL (The)

     8,300        17,514  
     

 

 

 
Total Thailand               345,260  

TOTAL COMMON STOCKS

(Cost: $23,888,670)

              20,895,287  
EXCHANGE-TRADED FUND – 0.8%      
United States – 0.8%      
WisdomTree Global ex-U.S. Real Estate Fund(a)(d) (Cost: $198,711)      7,436      $ 163,964  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%

 

United States – 0.1%      

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(e)

     
(Cost: $27,000)      27,000        27,000  

TOTAL INVESTMENTS IN SECURITIES – 99.4%

(Cost: $24,114,381)

 

 

     21,086,251  

Other Assets less Liabilities – 0.6%

 

     118,710  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 21,204,961  
(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $994,575 and the total market value of the collateral held by the Fund was $1,062,351. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,035,351.

 

(b) 

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

 

(c) 

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

 

(d) 

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

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree Global ex-U.S. Real Estate Fund

  $ 2,056     $ 892,269     $ 671,664     $ (23,652   $ (35,045   $ 163,964     $ 24,162  

 

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

Bank of Montreal

    4/1/2020       12,946       USD       21,000       AUD     $ 93     $  

State Street Bank and Trust

    4/2/2020       3,265       USD       53,350,000       IDR             (6

State Street Bank and Trust

    4/2/2020       69       USD       85,000       KRW             (1

State Street Bank and Trust

    4/2/2020       2,844       USD       12,000       MYR       66        
                                            $ 159     $ (7

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Table of Contents

Schedule of Investments

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 100.0%

 

China – 100.0%

 

Air Freight & Logistics – 1.5%

 

Best, Inc. ADR*

     37,700      $ 201,695  

SF Holding Co., Ltd. Class A

     69,100        460,225  

ZTO Express Cayman, Inc. ADR

     79,971        2,117,632  
     

 

 

 
Total Air Freight & Logistics               2,779,552  
Auto Components – 0.7%      

Fuyao Glass Industry Group Co., Ltd. Class A

     136,267        368,487  

Fuyao Glass Industry Group Co., Ltd. Class H(a)

     85,600        183,039  

Minth Group Ltd.

     140,000        300,085  

Xinyi Glass Holdings Ltd.

     416,000        477,495  
     

 

 

 
Total Auto Components               1,329,106  
Automobiles – 1.7%      

BYD Co., Ltd. Class A

     77,697        656,932  

BYD Co., Ltd. Class H(b)

     103,000        537,995  

Geely Automobile Holdings Ltd.

     851,000        1,255,570  

Great Wall Motor Co., Ltd. Class H

     561,500        359,908  

NIO, Inc. ADR*(b)

     117,623        326,992  
     

 

 

 
Total Automobiles               3,137,397  
Banks – 2.3%      

China Minsheng Banking Corp., Ltd. Class A

     2,947,636        2,372,970  

China Minsheng Banking Corp., Ltd. Class H(b)

     1,015,600        754,450  

Ping An Bank Co., Ltd. Class A

     676,300        1,220,483  
     

 

 

 
Total Banks               4,347,903  
Biotechnology – 1.5%      

3SBio, Inc.*(a)

     138,000        143,628  

China Biologic Products Holdings, Inc.*(b)

     3,506        378,402  

Chongqing Zhifei Biological Products Co., Ltd. Class A

     47,900        455,107  

Hualan Biological Engineering, Inc. Class A

     68,750        464,485  

Innovent Biologics, Inc.*(a)

     152,500        643,136  

Walvax Biotechnology Co., Ltd. Class A

     98,900        441,458  

Zai Lab Ltd. ADR*

     6,462        332,664  
     

 

 

 
Total Biotechnology               2,858,880  
Capital Markets – 0.7%      

Changjiang Securities Co., Ltd. Class A

     366,506        330,190  

East Money Information Co., Ltd. Class A

     473,552        1,071,581  
     

 

 

 
Total Capital Markets               1,401,771  
Chemicals – 0.2%      

Zhejiang Longsheng Group Co., Ltd. Class A

     233,700        392,421  
Commercial Services & Supplies – 0.5%

 

Country Garden Services Holdings Co., Ltd.

     190,000        771,880  

Greentown Service Group Co., Ltd.

     208,000        252,160  
     

 

 

 
Total Commercial Services & Supplies               1,024,040  
Communications Equipment – 0.2%      

Shenzhen Sunway Communication Co., Ltd. Class A*

     70,000        338,710  
Diversified Consumer Services – 2.9%

 

New Oriental Education & Technology Group, Inc. ADR*

     20,203        2,186,773  

TAL Education Group ADR*

     60,190      3,205,719  
     

 

 

 
Total Diversified Consumer Services               5,392,492  
Electrical Equipment – 1.2%      

Contemporary Amperex Technology Co., Ltd. Class A

     116,967        1,985,345  

Xinjiang Goldwind Science & Technology Co., Ltd. Class A

     214,800        287,700  
     

 

 

 
Total Electrical Equipment               2,273,045  
Electronic Equipment, Instruments & Components – 2.5%

 

AAC Technologies Holdings, Inc.(b)

     110,500        572,893  

GoerTek, Inc. Class A

     167,800        388,224  

Kingboard Holdings Ltd.

     110,500        258,800  

Luxshare Precision Industry Co., Ltd. Class A

     278,083        1,496,116  

Sunny Optical Technology Group Co., Ltd.

     125,600        1,691,124  

WUS Printed Circuit Kunshan Co., Ltd. Class A

     108,200        361,236  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     4,768,393  
Energy Equipment & Services – 0.0%      

China Common Rich Renewable Energy Investments Ltd.*(b)

     502,000        0  
Entertainment – 2.9%

 

Alibaba Pictures Group Ltd.*

     2,210,000        285,022  

Bilibili, Inc. ADR*(b)

     13,774        322,587  

HUYA, Inc. ADR*(b)

     10,842        183,772  

iQIYI, Inc. ADR*(b)

     46,933        835,407  

NetEase, Inc. ADR

     12,149        3,899,343  
     

 

 

 
Total Entertainment               5,526,131  
Food & Staples Retailing – 0.6%      

Sun Art Retail Group Ltd.

     379,500        562,853  

Yonghui Superstores Co., Ltd. Class A

     357,246        515,762  
     

 

 

 
Total Food & Staples Retailing               1,078,615  
Food Products – 5.9%      

Dali Foods Group Co., Ltd.(a)

     344,500        239,921  

Foshan Haitian Flavouring & Food Co., Ltd. Class A

     73,463        1,296,436  

Inner Mongolia Yili Industrial Group Co., Ltd. Class A

     493,500        2,077,587  

Muyuan Foodstuff Co., Ltd. Class A

     61,300        1,056,208  

New Hope Liuhe Co., Ltd. Class A

     175,000        775,469  

Tingyi Cayman Islands Holding Corp.

     362,000        591,988  

Tongwei Co., Ltd. Class A

     185,558        303,735  

Uni-President China Holdings Ltd.

     215,000        208,517  

Want Want China Holdings Ltd.

     1,146,000        830,628  

Wens Foodstuffs Group Co., Ltd. Class A

     349,400        1,591,138  

WH Group Ltd.(a)

     1,600,000        1,496,041  

Yihai International Holding Ltd.*

     82,000        620,779  
     

 

 

 
Total Food Products               11,088,447  
Gas Utilities – 0.7%      

ENN Energy Holdings Ltd.

     128,100        1,239,896  
Health Care Equipment & Supplies – 0.6%

 

Lepu Medical Technology Beijing Co., Ltd. Class A

     107,900        551,001  

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Shandong Weigao Group Medical Polymer Co., Ltd. Class H

     400,000      $ 505,558  
     

 

 

 
Total Health Care Equipment & Supplies               1,056,559  
Health Care Providers & Services – 0.5%      

Aier Eye Hospital Group Co., Ltd. Class A

     106,840        593,188  

Meinian Onehealth Healthcare Holdings Co., Ltd. Class A

     209,660        349,098  
     

 

 

 
Total Health Care Providers & Services               942,286  
Hotels, Restaurants & Leisure – 2.1%      

Haidilao International Holding Ltd.(a)(b)

     120,000        467,384  

Huazhu Group Ltd. ADR(b)

     17,999        517,111  

MGM China Holdings Ltd.

     130,800        133,772  

Yum China Holdings, Inc.

     66,178        2,821,168  
     

 

 

 
Total Hotels, Restaurants & Leisure               3,939,435  
Household Durables – 2.3%      

Haier Electronics Group Co., Ltd.

     202,000        537,969  

Haier Smart Home Co., Ltd. Class A

     359,900        730,679  

Midea Group Co., Ltd. Class A

     351,443        2,399,175  

TCL Technology Group Corp. Class A

     1,049,000        612,291  
     

 

 

 
Total Household Durables               4,280,114  
Industrial Conglomerates – 0.2%      

Fosun International Ltd.

     397,500        459,336  
Insurance – 6.5%

 

Ping An Insurance Group Co. of China Ltd. Class A

     603,094        5,881,459  

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

     639,500        6,280,524  
     

 

 

 
Total Insurance               12,161,983  
Interactive Media & Services – 18.1%      

58.com, Inc. ADR*

     16,566        807,095  

Autohome, Inc. ADR*

     9,953        706,862  

Baidu, Inc. ADR*

     47,865        4,824,313  

JOYY, Inc. ADR*(b)

     9,799        521,895  

Momo, Inc. ADR

     25,917        562,140  

SINA Corp.*

     9,933        316,267  

Tencent Holdings Ltd.

     530,100        25,992,935  

Weibo Corp. ADR*(b)

     10,570        349,973  
     

 

 

 
Total Interactive Media & Services               34,081,480  
Internet & Direct Marketing Retail – 22.4%      

Alibaba Group Holding Ltd. ADR*

     126,228        24,548,822  

Baozun, Inc. ADR*(b)

     6,273        175,268  

JD.com, Inc. ADR*

     143,022        5,792,391  

Meituan Dianping Class B*

     553,800        6,688,768  

Pinduoduo, Inc. ADR*

     60,907        2,194,479  

Tongcheng-Elong Holdings Ltd.*(b)

     165,600        232,794  

Trip.com Group Ltd. ADR*

     67,985        1,594,248  

Vipshop Holdings Ltd. ADR*

     65,554        1,021,331  
     

 

 

 
Total Internet & Direct Marketing Retail               42,248,101  
IT Services – 0.4%      

GDS Holdings Ltd. ADR*

     12,371        717,147  
Life Sciences Tools & Services – 1.5%

 

Genscript Biotech Corp.*(b)

     178,000      288,333  

Hangzhou Tigermed Consulting Co., Ltd. Class A

     41,767        377,168  

WuXi AppTec Co., Ltd. Class A

     39,100        498,838  

WuXi AppTec Co., Ltd. Class H(a)(b)

     28,700        353,115  

Wuxi Biologics Cayman, Inc.*(a)

     93,500        1,211,890  
     

 

 

 
Total Life Sciences Tools & Services               2,729,344  
Machinery – 1.7%      

China Conch Venture Holdings Ltd.

     261,363        1,166,288  

Haitian International Holdings Ltd.

     111,000        206,144  

Han’s Laser Technology Industry Group Co., Ltd. Class A

     76,600        304,443  

Sany Heavy Industry Co., Ltd. Class A

     512,900        1,251,011  

Shenzhen Inovance Technology Co., Ltd. Class A

     98,100        357,529  
     

 

 

 
Total Machinery               3,285,415  
Marine – 0.1%      

SITC International Holdings Co., Ltd.

     223,000        208,511  
Media – 0.3%

 

Focus Media Information Technology Co., Ltd. Class A

     1,014,624        632,280  
Metals & Mining – 0.1%

 

China Hongqiao Group Ltd.

     297,000        126,403  
Oil, Gas & Consumable Fuels – 0.1%

 

United Energy Group Ltd.(b)

     1,432,000        277,025  
Paper & Forest Products – 0.1%

 

Nine Dragons Paper Holdings Ltd.

     308,000        280,838  
Personal Products – 0.5%

 

Hengan International Group Co., Ltd.

     116,000        872,940  
Pharmaceuticals – 4.3%

 

China Medical System Holdings Ltd.

     228,000        246,708  

CSPC Pharmaceutical Group Ltd.

     810,000        1,621,295  

Jiangsu Hengrui Medicine Co., Ltd. Class A

     247,631        3,213,044  

Luye Pharma Group Ltd.(a)

     327,607        159,709  

Shanghai Fosun Pharmaceutical Group Co., Ltd. Class A

     97,500        451,705  

Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H

     96,000        315,716  

Sino Biopharmaceutical Ltd.

     1,120,500        1,476,890  

SSY Group Ltd.

     256,000        200,078  

Zhejiang NHU Co., Ltd. Class A

     105,000        404,142  
     

 

 

 
Total Pharmaceuticals               8,089,287  
Professional Services – 0.1%      

51job, Inc. ADR*

     4,223        259,250  
Real Estate Management & Development – 5.0%

 

Agile Group Holdings Ltd.

     234,000        253,200  

China Aoyuan Group Ltd.

     208,000        243,576  

China Evergrande Group(b)

     509,000        844,198  

China Fortune Land Development Co., Ltd. Class A

     151,200        445,320  

CIFI Holdings Group Co., Ltd.

     614,000        443,447  

Country Garden Holdings Co., Ltd.(b)

     1,257,000        1,520,630  

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Table of Contents

Schedule of Investments (concluded)

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Gemdale Corp. Class A

     360,000      $ 715,148  

Guangzhou R&F Properties Co., Ltd. Class H

     224,800        293,401  

KWG Group Holdings Ltd.*

     194,000        275,720  

Logan Property Holdings Co., Ltd.

     210,000        323,919  

Longfor Group Holdings Ltd.(a)

     236,500        1,151,419  

Seazen Group Ltd.

     256,000        231,113  

Shimao Property Holdings Ltd.

     155,500        547,493  

Sunac China Holdings Ltd.

     383,000        1,773,285  

Times China Holdings Ltd.

     116,000        194,186  

Zhenro Properties Group Ltd.

     367,600        230,408  
     

 

 

 
Total Real Estate Management & Development               9,486,463  
Semiconductors & Semiconductor Equipment – 1.5%

 

  

Gigadevice Semiconductor Beijing, Inc. Class A

     17,200        586,873  

LONGi Green Energy Technology Co., Ltd. Class A

     224,252        785,362  

Sanan Optoelectronics Co., Ltd. Class A

     216,040        583,291  

Shenzhen Goodix Technology Co., Ltd. Class A

     12,049        443,004  

Xinyi Solar Holdings Ltd.

     608,000        344,234  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     2,742,764  
Software – 1.6%      

Glodon Co., Ltd. Class A

     69,440        417,748  

Hundsun Technologies, Inc. Class A

     57,010        706,516  

Kingdee International Software Group Co., Ltd.(b)

     389,000        518,747  

Kingsoft Corp., Ltd.*

     170,000        554,696  

Yonyou Network Technology Co., Ltd. Class A

     137,703        785,510  
     

 

 

 
Total Software               2,983,217  
Specialty Retail – 0.5%      

China Yongda Automobiles Services Holdings Ltd.

     205,500        167,765  

Suning.com Co., Ltd. Class A

     368,800        469,527  

Zhongsheng Group Holdings Ltd.

     89,100        311,410  
     

 

 

 
Total Specialty Retail               948,702  
Technology Hardware, Storage & Peripherals – 1.7%

 

Xiaomi Corp. Class B*(a)(b)

     2,338,600      $ 3,148,777  
Textiles, Apparel & Luxury Goods – 1.8%

 

ANTA Sports Products Ltd.

     170,000        1,248,613  

Li Ning Co., Ltd.

     290,000        847,133  

Shenzhou International Group Holdings Ltd.

     119,300        1,267,807  
     

 

 

 
Total Textiles, Apparel & Luxury Goods               3,363,553  

TOTAL COMMON STOCKS

(Cost: $192,143,361)

              188,298,009  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.1%

 

United States – 1.1%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $2,196,509)      2,196,509        2,196,509  

TOTAL INVESTMENTS IN SECURITIES – 101.1%

(Cost: $194,339,870)

 

 

     190,494,518  

Other Assets less Liabilities – (1.1)%

 

     (2,143,505
     

 

 

 
NET ASSETS – 100.0%

 

   $ 188,351,013  
* 

Non-income producing security.

 

 

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

 

(a) 

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

 

(b) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $10,926,671 and the total market value of the collateral held by the Fund was $11,531,845. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $9,335,336.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

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

HSBC Holdings PLC

    4/1/2020       59,478       USD       461,181       HKD     $ 0     $  

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree Emerging Markets Consumer Growth Fund (EMCG)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.6%

 

Argentina – 1.6%

 

MercadoLibre, Inc.*

     886      $ 432,882  
Brazil – 6.3%

 

Ambev S.A.

     50,728        116,585  

Banco Bradesco S.A.

     21,869        79,311  

Banco do Brasil S.A.

     15,596        83,865  

Banco Santander Brasil S.A.

     14,169        72,858  

Cia Brasileira de Distribuicao

     7,858        100,509  

Cia de Saneamento Basico do Estado de Sao Paulo

     12,338        93,036  

Equatorial Energia S.A.

     32,452        110,121  

Lojas Renner S.A.

     15,007        97,103  

Magazine Luiza S.A.

     15,231        114,498  

Natura & Co. Holding S.A.

     21,165        105,037  

Porto Seguro S.A.

     9,538        82,607  

Raia Drogasil S.A.

     5,967        117,175  

Sul America S.A.

     26,547        173,001  

Telefonica Brasil S.A. (Preference Shares)

     19,810        188,872  

TIM Participacoes S.A.

     68,762        164,925  
     

 

 

 
Total Brazil               1,699,503  
Chile – 1.3%      

Banco Santander Chile

     2,076,008        80,379  

Cia Cervecerias Unidas S.A.

     13,331        91,813  

Embotelladora Andina S.A. Class B, (Preference Shares)

     40,060        89,208  

Enel Americas S.A.

     845,391        103,750  
     

 

 

 
Total Chile               365,150  
China – 34.3%      

360 Security Technology, Inc. Class A

     16,500        44,035  

58.com, Inc. ADR*

     1,963        95,637  

Alibaba Group Holding Ltd. ADR*

     4,778        929,225  

Anhui Conch Cement Co., Ltd. Class H

     14,000        97,266  

ANTA Sports Products Ltd.

     15,289        112,336  

Autohome, Inc. ADR*

     1,286        91,332  

Baozun, Inc. ADR*(a)

     1,942        54,259  

Beijing Enterprises Holdings Ltd.

     19,000        69,740  

Beijing Enterprises Water Group Ltd.*

     154,000        60,202  

BYD Co., Ltd. Class H(a)

     17,000        88,828  

China Gas Holdings Ltd.

     23,800        82,906  

China International Travel Service Corp., Ltd. Class A

     4,500        42,633  

China Jinmao Holdings Group Ltd.

     130,000        84,197  

China Medical System Holdings Ltd.

     61,000        66,030  

China Mengniu Dairy Co., Ltd.*

     34,000        118,219  

China Merchants Bank Co., Ltd. Class H

     25,500        115,148  

China Pacific Insurance Group Co., Ltd. Class H

     30,200        91,369  

China Resources Beer Holdings Co., Ltd.

     24,000        109,613  

China Resources Gas Group Ltd.

     22,000        110,697  

China Resources Land Ltd.

     30,000        123,857  

China Taiping Insurance Holdings Co., Ltd.

     37,800        61,936  

China Traditional Chinese Medicine Holdings Co., Ltd.

     162,000        73,780  

China Unicom Hong Kong Ltd.

     94,000      54,210  

Country Garden Holdings Co., Ltd.(a)

     79,000        95,604  

CSPC Pharmaceutical Group Ltd.

     52,000        104,122  

ENN Energy Holdings Ltd.

     10,400        100,701  

Far East Horizon Ltd.

     106,000        85,474  

Foshan Haitian Flavouring & Food Co., Ltd. Class A

     4,400        77,646  

Geely Automobile Holdings Ltd.

     60,876        89,850  

Gree Electric Appliances, Inc. of Zhuhai Class A

     7,000        51,515  

Haier Electronics Group Co., Ltd.

     30,000        79,926  

HengTen Networks Group Ltd.*(a)

     4,352,000        40,988  

Huazhu Group Ltd. ADR

     2,379        68,349  

Hundsun Technologies, Inc. Class A

     4,500        55,765  

Iflytek Co., Ltd. Class A

     10,000        48,582  

JD.com, Inc. ADR*

     5,399        218,659  

Jinke Properties Group Co., Ltd. Class A

     42,900        48,143  

Kingdee International Software Group Co., Ltd.(a)

     85,000        113,393  

Kunlun Energy Co., Ltd.

     102,000        59,614  

Kweichow Moutai Co., Ltd. Class A

     1,200        187,957  

Lenovo Group Ltd.

     150,000        80,507  

Li Ning Co., Ltd.

     43,500        127,117  

Logan Property Holdings Co., Ltd.

     70,126        108,208  

Longfor Group Holdings Ltd.(b)

     25,410        123,757  

LONGi Green Energy Technology Co., Ltd. Class A

     13,380        46,857  

Luxshare Precision Industry Co., Ltd. Class A

     17,200        92,534  

Luye Pharma Group Ltd.(b)

     118,000        57,547  

Luzhou Laojiao Co., Ltd. Class A

     4,500        46,725  

Mango Excellent Media Co., Ltd. Class A*

     14,600        89,723  

Midea Group Co., Ltd. Class A

     7,800        53,246  

Momo, Inc. ADR

     2,653        57,544  

NetEase, Inc. ADR

     489        156,949  

New China Life Insurance Co., Ltd. Class H

     24,100        75,090  

New Oriental Education & Technology Group, Inc. ADR*

     1,115        120,688  

Ninestar Corp. Class A

     10,951        41,423  

Perfect World Co., Ltd. Class A

     10,900        73,070  

Ping An Insurance Group Co. of China Ltd. Class A

     10,700        104,344  

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

     23,129        227,235  

Shandong Weigao Group Medical Polymer Co., Ltd. Class H

     76,000        96,092  

Shanghai 2345 Network Holding Group Co., Ltd. Class A

     88,660        34,749  

Shanxi Xinghuacun Fen Wine Factory Co., Ltd. Class A

     4,600        58,483  

Shenzhou International Group Holdings Ltd.

     9,600        102,058  

Sino Biopharmaceutical Ltd.

     75,000        98,892  

SSY Group Ltd.

     106,000        82,876  

Sunac China Holdings Ltd.

     27,000        125,056  

Sunny Optical Technology Group Co., Ltd.

     7,500        101,021  

Suzhou Dongshan Precision Manufacturing Co., Ltd. Class A

     17,000        49,396  

TAL Education Group ADR*

     3,039        161,857  

Tencent Holdings Ltd.

     19,500        956,521  

Tianma Microelectronics Co., Ltd. Class A

     20,900        39,277  

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets Consumer Growth Fund (EMCG)

March 31, 2020

 

 

 

Investments    Shares      Value  

Tingyi Cayman Islands Holding Corp.

     72,000      $ 117,788  

Tongwei Co., Ltd. Class A

     25,091        41,069  

Tsingtao Brewery Co., Ltd. Class H

     14,000        71,437  

Uni-President China Holdings Ltd.

     75,000        72,766  

Vipshop Holdings Ltd. ADR*

     9,454        147,293  

Want Want China Holdings Ltd.

     123,000        89,184  

Weibo Corp. ADR*(a)

     1,834        60,724  

Wuhu Sanqi Interactive Entertainment Network Technology Group Co., Ltd. Class A

     22,400        103,140  

Wuliangye Yibin Co., Ltd. Class A

     4,600        74,709  

Wuxi Lead Intelligent Equipment Co., Ltd. Class A

     9,400        49,643  

Yihai International Holding Ltd.*

     19,000        143,893  

Yonghui Superstores Co., Ltd. Class A

     33,600        48,507  

Yonyou Network Technology Co., Ltd. Class A

     11,080        63,202  

Yuzhou Properties Co., Ltd.

     184,000        78,339  

Zhejiang Semir Garment Co., Ltd. Class A

     22,200        22,284  

Zhongsheng Group Holdings Ltd.

     31,000        108,387  

ZTE Corp. Class H*(a)

     27,400        85,019  
     

 

 

 
Total China               9,269,969  
Czech Republic – 0.3%      

Komercni Banka AS

     4,342        82,116  
Hungary – 0.4%

 

OTP Bank Nyrt

     4,133        119,438  
India – 8.7%

 

Bajaj Auto Ltd.

     3,106        83,031  

Britannia Industries Ltd.

     2,774        98,599  

Cipla Ltd.

     21,362        119,402  

Dabur India Ltd.

     27,360        162,765  

Dr. Reddy’s Laboratories Ltd.

     3,648        150,487  

GAIL India Ltd.

     75,616        76,514  

Godrej Consumer Products Ltd.

     15,533        106,943  

Hindustan Unilever Ltd.

     8,810        267,673  

Housing Development Finance Corp., Ltd.

     12,091        261,011  

ICICI Bank Ltd.

     31,112        133,144  

ITC Ltd.

     51,304        116,441  

Marico Ltd.

     32,556        118,280  

Nestle India Ltd.

     959        206,636  

Oil & Natural Gas Corp., Ltd.

     78,368        70,753  

Page Industries Ltd.

     502        112,565  

Tech Mahindra Ltd.

     16,412        122,681  

Titan Co., Ltd.

     10,897        134,492  
     

 

 

 
Total India               2,341,417  
Indonesia – 3.4%      

Charoen Pokphand Indonesia Tbk PT

     357,000        108,129  

Gudang Garam Tbk PT

     44,553        112,270  

Hanjaya Mandala Sampoerna Tbk PT

     901,700        78,781  

Indofood CBP Sukses Makmur Tbk PT

     195,000        122,249  

Indofood Sukses Makmur Tbk PT

     262,000        102,005  

Kalbe Farma Tbk PT

     1,083,300        79,703  

Pakuwon Jati Tbk PT

     3,009,300        56,828  

Telekomunikasi Indonesia Persero Tbk PT

     733,100        142,035  

Tiga Pilar Sejahtera Food Tbk PT*

     538,700        2,081  

Unilever Indonesia Tbk PT

     254,000        112,906  
     

 

 

 
Total Indonesia               916,987  
Malaysia – 1.5%      

Fraser & Neave Holdings Bhd

     17,500      125,660  

Nestle Malaysia Bhd

     4,100        129,738  

QL Resources Bhd

     86,100        147,486  
     

 

 

 
Total Malaysia               402,884  
Mexico – 4.6%      

America Movil S.A.B. de C.V. Series L

     359,800        215,488  

Arca Continental S.A.B. de C.V.

     26,422        107,685  

Coca-Cola Femsa S.A.B. de C.V.

     25,193        102,719  

El Puerto de Liverpool S.A.B. de C.V. Class C1(a)

     23,284        51,383  

Fomento Economico Mexicano S.A.B. de C.V.

     21,316        130,135  

Gruma S.A.B. de C.V. Class B

     13,826        107,069  

Grupo Financiero Banorte S.A.B. de C.V. Class O

     34,838        96,528  

Infraestructura Energetica Nova S.A.B. de C.V.

     27,249        84,410  

Kimberly-Clark de Mexico S.A.B. de C.V. Class A

     75,918        116,243  

Megacable Holdings S.A.B. de C.V. Series CPO

     29,991        82,945  

Wal-Mart de Mexico S.A.B. de C.V.

     66,185        157,286  
     

 

 

 
Total Mexico               1,251,891  
Philippines – 3.7%      

BDO Unibank, Inc.

     61,480        125,112  

Globe Telecom, Inc.

     4,720        179,111  

Jollibee Foods Corp.

     27,580        57,698  

Manila Electric Co.

     18,780        83,081  

Megaworld Corp.

     1,723,000        84,693  

Metropolitan Bank & Trust Co.

     127,546        100,311  

PLDT, Inc.

     6,245        138,628  

Robinsons Land Corp.

     273,400        79,773  

SM Prime Holdings, Inc.

     253,800        141,721  
     

 

 

 
Total Philippines               990,128  
Poland – 1.1%      

Cyfrowy Polsat S.A.

     17,399        99,782  

LPP S.A.

     66        83,106  

Powszechny Zaklad Ubezpieczen S.A.

     15,831        119,414  
     

 

 

 
Total Poland               302,302  
South Africa – 3.0%      

Capitec Bank Holdings Ltd.

     1,797        88,542  

Clicks Group Ltd.

     8,934        128,908  

Discovery Ltd.(a)

     18,159        79,265  

Foschini Group Ltd. (The)

     13,510        51,188  

Kumba Iron Ore Ltd.

     5,149        80,741  

Momentum Metropolitan Holdings

     103,671        90,494  

MTN Group Ltd.(a)

     27,531        74,592  

Pick n Pay Stores Ltd.

     34,816        118,133  

SPAR Group Ltd. (The)

     9,671        98,416  
     

 

 

 
Total South Africa               810,279  
South Korea – 11.8%      

Cheil Worldwide, Inc.

     6,543        85,190  

CJ ENM Co., Ltd.

     1,042        89,105  

Coway Co., Ltd.

     2,114        100,373  

Fila Holdings Corp.

     2,747        65,552  

Hotel Shilla Co., Ltd.

     2,180        126,250  

Industrial Bank of Korea

     13,448        82,852  

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Emerging Markets Consumer Growth Fund (EMCG)

March 31, 2020

 

 

 

Investments    Shares      Value  

Kakao Corp.

     1,632      $ 208,466  

LG Electronics, Inc.

     2,602        103,024  

LG Household & Health Care Ltd.

     163        149,965  

LG Household & Health Care Ltd. (Preference Shares)

     229        120,393  

LG Innotek Co., Ltd.

     1,488        139,345  

NCSoft Corp.

     376        201,382  

Samsung Electro-Mechanics Co., Ltd.

     1,791        143,739  

Samsung Electronics Co., Ltd.

     25,798        1,011,915  

Samsung SDS Co., Ltd.

     871        106,966  

Shinsegae, Inc.

     802        143,291  

SK Hynix, Inc.

     4,397        300,875  
     

 

 

 
Total South Korea               3,178,683  
Taiwan – 12.0%      

Advantech Co., Ltd.

     13,000        107,253  

Chailease Holding Co., Ltd.

     23,050        69,741  

Cheng Shin Rubber Industry Co., Ltd.

     62,000        63,145  

Chicony Electronics Co., Ltd.

     38,000        95,247  

China Development Financial Holding Corp.

     315,000        77,288  

Delta Electronics, Inc.

     33,000        131,492  

E.Sun Financial Holding Co., Ltd.

     154,000        123,489  

Giant Manufacturing Co., Ltd.

     14,000        62,034  

Hotai Motor Co., Ltd.

     7,000        113,652  

Lite-On Technology Corp.

     53,000        72,381  

Nanya Technology Corp.

     45,000        79,907  

Nien Made Enterprise Co., Ltd.

     12,000        71,624  

Novatek Microelectronics Corp.

     19,000        108,063  

Pou Chen Corp.

     73,000        61,917  

President Chain Store Corp.

     12,000        112,296  

Realtek Semiconductor Corp.

     17,000        122,828  

SinoPac Financial Holdings Co., Ltd.

     225,000        82,213  

Standard Foods Corp.

     66,000        133,128  

Synnex Technology International Corp.

     85,000        104,418  

Taiwan Mobile Co., Ltd.

     28,000        92,495  

Taiwan Semiconductor Manufacturing Co., Ltd.

     84,000        761,073  

Uni-President Enterprises Corp.

     48,000        104,122  

Walsin Technology Corp.

     21,000        111,800  

Wistron Corp.

     140,000        113,420  

WPG Holdings Ltd.

     70,000        82,172  

Yageo Corp.

     12,000        108,923  

Zhen Ding Technology Holding Ltd.

     30,000        92,257  
     

 

 

 
Total Taiwan               3,258,378  
Thailand – 3.4%      

Advanced Info Service PCL NVDR

     25,500        156,182  

Bangkok Dusit Medical Services PCL NVDR

     208,300        119,962  

Berli Jucker PCL NVDR

     83,100        102,554  

Charoen Pokphand Foods PCL NVDR

     154,400        114,327  

CP ALL PCL NVDR

     85,300        158,553  

Electricity Generating PCL NVDR

     13,100        92,210  

Home Product Center PCL NVDR

     328,000        110,941  

Minor International PCL NVDR

     124,600        63,785  
     

 

 

 
Total Thailand               918,514  
Turkey – 2.2%      

Anadolu Efes Biracilik ve Malt Sanayii AS

     49,580      129,625  

Arcelik AS*

     40,690        83,600  

BIM Birlesik Magazalar AS

     19,823        150,848  

Ford Otomotiv Sanayi AS

     13,144        98,287  

Turkcell Iletisim Hizmetleri AS

     66,442        124,208  
     

 

 

 
Total Turkey               586,568  

TOTAL COMMON STOCKS

(Cost: $29,744,781)

              26,927,089  
RIGHTS – 0.0%      
China – 0.0%      
Legend Holdings Corp., expiring 5/4/20* (Cost: $0)      2,053        0  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.0%

 

United States – 1.0%      

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $274,517)      274,517        274,517  

TOTAL INVESTMENTS IN SECURITIES – 100.6%

(Cost: $30,019,298)

 

 

     27,201,606  

Other Assets less Liabilities – (0.6)%

 

     (174,799
     

 

 

 
NET ASSETS – 100.0%

 

   $ 27,026,807  
* 

Non-income producing security.

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $2,081, which represents 0.01% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $670,293 and the total market value of the collateral held by the Fund was $745,468. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $470,951.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Table of Contents

Schedule of Investments

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

Brazil – 4.3%

 

Ambev S.A.

     1,252,637      $ 2,878,848  

Atacadao S.A.

     144,787        575,899  

B2W Cia Digital*

     57,672        533,732  

B3 S.A. – Brasil Bolsa Balcao

     571,977        3,959,043  

Banco Bradesco S.A.

     344,814        1,250,521  

Banco Santander Brasil S.A.

     111,889        575,344  

BR Malls Participacoes S.A.

     295,085        567,799  

BRF S.A.*

     221,630        644,815  

CCR S.A.

     327,666        741,049  

Cia Siderurgica Nacional S.A.

     214,819        289,098  

Cogna Educacao

     508,435        392,114  

Cosan Ltd. Class A*

     33,623        413,563  

Cosan S.A.

     61,344        635,841  

CVC Brasil Operadora e Agencia de Viagens S.A.

     51,983        111,250  

Cyrela Brazil Realty S.A. Empreendimentos e Participacoes

     74,925        204,120  

Embraer S.A.*

     177,500        326,486  

Energisa S.A.

     63,640        463,809  

Engie Brasil Energia S.A.

     66,165        496,499  

Equatorial Energia S.A.

     259,005        878,897  

Fleury S.A.

     68,987        269,212  

Hapvida Participacoes e Investimentos S.A.(a)

     52,786        431,521  

Hypera S.A.

     128,498        708,317  

Itau Unibanco Holding S.A.

     135,064        574,984  

Itausa – Investimentos Itau S.A.

     336,562        645,662  

Klabin S.A.

     165,124        509,068  

Linx S.A.

     46,681        149,855  

Localiza Rent a Car S.A.

     176,027        892,591  

Lojas Renner S.A.

     230,879        1,493,907  

M. Dias Branco S.A.

     21,904        122,895  

Magazine Luiza S.A.

     166,234        1,249,656  

MRV Engenharia e Participacoes S.A.

     160,492        378,750  

Multiplan Empreendimentos Imobiliarios S.A.

     88,941        327,188  

Natura & Co. Holding S.A.

     172,632        856,736  

Notre Dame Intermedica Participacoes S.A.

     102,556        889,006  

Odontoprev S.A.

     98,095        273,863  

Pagseguro Digital Ltd. Class A*(b)

     50,805        982,061  

Porto Seguro S.A.

     22,914        198,453  

Qualicorp Consultoria e Corretora de Seguros S.A.

     65,859        299,671  

Raia Drogasil S.A.

     75,934        1,491,127  

Rumo S.A.*

     280,015        1,060,867  

StoneCo Ltd. Class A*(b)

     30,131        655,952  

Sul America S.A.

     80,929        527,398  

Suzano S.A.

     142,839        985,657  

TIM Participacoes S.A.

     286,455        687,059  

TOTVS S.A.

     43,030        387,275  

Ultrapar Participacoes S.A.

     193,635        467,791  

WEG S.A.

     212,066        1,372,586  

YDUQS Part*

     79,008        337,718  
     

 

 

 
Total Brazil               35,165,553  
Chile – 0.6%      

Aguas Andinas S.A. Class A

     1,228,022      363,081  

AntarChile S.A.

     24,210        167,589  

Banco de Chile

     10,772,907        873,390  

Banco de Credito e Inversiones S.A.

     15,176        516,360  

Banco Santander Chile

     7,528,433        291,485  

Cia Cervecerias Unidas S.A.

     62,011        427,082  

Colbun S.A.

     2,894,207        315,798  

Empresa Nacional de Telecomunicaciones S.A.*

     71,452        303,473  

Empresas CMPC S.A.

     78,866        169,239  

Enel Americas S.A.

     5,071,721        622,421  

Enel Chile S.A.

     9,523,512        648,071  

Latam Airlines Group S.A.

     47,887        123,606  

S.A.C.I. Falabella

     103,119        228,180  
     

 

 

 
Total Chile               5,049,775  
China – 40.7%      

3SBio, Inc.*(a)

     210,500        219,166  

51job, Inc. ADR*

     7,874        483,385  

58.com, Inc. ADR*

     20,131        980,782  

AAC Technologies Holdings, Inc.(b)

     118,000        612,006  

Agile Group Holdings Ltd.

     494,000        534,733  

Aier Eye Hospital Group Co., Ltd. Class A

     166,150        922,444  

Alibaba Group Holding Ltd. ADR*

     377,591        73,433,898  

Alibaba Pictures Group Ltd.*

     3,180,000        410,275  

ANTA Sports Products Ltd.

     300,000        2,204,260  

Autohome, Inc. ADR*

     13,935        989,664  

Baidu, Inc. ADR*

     64,108        6,461,445  

Baozun, Inc. ADR*(b)

     9,537        266,464  

BeiGene Ltd.*

     130,200        1,282,531  

Best, Inc. ADR*

     69,336        370,948  

Bilibili, Inc. ADR*(b)

     23,752        556,272  

BYD Co., Ltd. Class A

     172,900        1,461,817  

Changjiang Securities Co., Ltd. Class A

     520,031        468,483  

China Aoyuan Group Ltd.

     326,000        381,901  

China Biologic Products Holdings, Inc.*(b)

     6,972        752,488  

China Common Rich Renewable Energy Investments Ltd.*

     102,000        0  

China Conch Venture Holdings Ltd.

     491,400        2,193,608  

China Evergrande Group(b)

     687,000        1,139,844  

China Fortune Land Development Co., Ltd. Class A

     136,064        400,724  

China Medical System Holdings Ltd.

     280,000        303,087  

China Minsheng Banking Corp., Ltd. Class A

     2,821,479        2,271,312  

China Minsheng Banking Corp., Ltd. Class H

     1,524,500        1,132,916  

CIFI Holdings Group Co., Ltd.

     1,188,000        858,326  

Contemporary Amperex Technology Co., Ltd. Class A

     108,071        1,834,271  

Country Garden Holdings Co., Ltd.(b)

     1,615,000        1,954,444  

Country Garden Services Holdings Co., Ltd.

     284,000        1,154,189  

CSPC Pharmaceutical Group Ltd.

     1,208,000        2,418,837  

East Money Information Co., Ltd. Class A

     471,852        1,067,689  

ENN Energy Holdings Ltd.

     196,300        1,900,723  

Focus Media Information Technology Co., Ltd. Class A

     927,600        578,025  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Foshan Haitian Flavouring & Food Co., Ltd. Class A

     66,200      $ 1,168,213  

Fosun International Ltd.

     371,000        428,874  

Fuyao Glass Industry Group Co., Ltd. Class H(a)

     280,400        599,805  

GDS Holdings Ltd. ADR*

     18,587        1,077,488  

Geely Automobile Holdings Ltd.

     1,065,000        1,571,895  

Gemdale Corp. Class A

     497,500        988,253  

Genscript Biotech Corp.*

     156,000        252,791  

GoerTek, Inc. Class A

     172,800        399,776  

Great Wall Motor Co., Ltd. Class H

     640,000        410,378  

Haidilao International Holding Ltd.(a)(b)

     249,000        970,184  

Haier Electronics Group Co., Ltd.

     314,000        836,561  

Haier Smart Home Co., Ltd. Class A

     452,000        917,624  

Haitian International Holdings Ltd.

     253,000        470,036  

Han’s Laser Technology Industry Group Co., Ltd. Class A

     93,600        371,993  

Hengan International Group Co., Ltd.

     159,500        1,200,741  

Huazhu Group Ltd. ADR(b)

     26,744        768,355  

Hundsun Technologies, Inc. Class A

     67,080        831,277  

HUYA, Inc. ADR*(b)

     17,132        290,387  

Inner Mongolia Yili Industrial Group Co., Ltd. Class A

     492,000        2,071,185  

Innovent Biologics, Inc.*(a)

     190,500        803,694  

iQIYI, Inc. ADR*(b)

     73,017        1,299,703  

JD.com, Inc. ADR*

     202,259        8,191,490  

Jiangsu Hengrui Medicine Co., Ltd. Class A

     264,366        3,430,038  

JOYY, Inc. ADR*

     10,559        562,372  

Kingboard Holdings Ltd.

     209,000        489,677  

Kingdee International Software Group Co., Ltd.

     644,000        859,121  

Kingsoft Corp., Ltd.*

     292,000        953,128  

KWG Group Holdings Ltd.*

     311,500        442,881  

Lepu Medical Technology Beijing Co., Ltd. Class A

     103,100        526,467  

Li Ning Co., Ltd.

     493,500        1,442,126  

Logan Property Holdings Co., Ltd.

     572,000        882,623  

Longfor Group Holdings Ltd.(a)

     463,000        2,254,996  

LONGi Green Energy Technology Co., Ltd. Class A

     221,300        774,991  

Luxshare Precision Industry Co., Ltd. Class A

     332,426        1,788,411  

Luye Pharma Group Ltd.(a)

     362,500        176,786  

Meinian Onehealth Healthcare Holdings Co., Ltd. Class A

     229,763        382,555  

Meituan Dianping Class B*

     798,900        9,652,684  

MGM China Holdings Ltd.(b)

     284,800        291,381  

Midea Group Co., Ltd. Class A

     345,190        2,356,389  

Minth Group Ltd.

     122,000        261,601  

Momo, Inc. ADR

     35,349        766,720  

Muyuan Foodstuff Co., Ltd. Class A

     63,600        1,095,791  

NetEase, Inc. ADR

     17,184        5,515,377  

New Hope Liuhe Co., Ltd. Class A

     191,900        850,322  

New Oriental Education & Technology Group, Inc. ADR*

     31,383        3,396,896  

Nine Dragons Paper Holdings Ltd.

     649,000        591,987  

NIO, Inc. ADR*(b)

     219,721        610,824  

Pinduoduo, Inc. ADR*

     89,082        3,209,624  

Ping An Bank Co., Ltd. Class A

     770,500        1,390,422  

Ping An Insurance Group Co. of China Ltd. Class A

     868,400      8,468,403  

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

     1,331,000        13,076,630  

Sany Heavy Industry Co., Ltd. Class A

     636,500        1,552,417  

Seazen Group Ltd.(b)

     530,000        478,654  

SF Holding Co., Ltd. Class A

     91,200        607,391  

Shandong Weigao Group Medical Polymer Co., Ltd. Class H

     976,000        1,234,024  

Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H(b)

     300,000        986,982  

Shenzhen Sunway Communication Co., Ltd. Class A*

     92,400        447,078  

Shenzhou International Group Holdings Ltd.

     197,600        2,100,690  

Shimao Property Holdings Ltd.

     324,500        1,142,945  

SINA Corp.*

     21,527        685,420  

Sino Biopharmaceutical Ltd.

     1,670,000        2,201,989  

SITC International Holdings Co., Ltd.

     351,000        328,317  

Sun Art Retail Group Ltd.

     526,500        781,167  

Sunac China Holdings Ltd.

     591,000        2,737,347  

Sunny Optical Technology Group Co., Ltd.

     168,600        2,270,941  

TAL Education Group ADR*

     87,807        4,676,601  

TCL Technology Group Corp. Class A

     1,495,500        872,872  

Tencent Holdings Ltd.

     1,453,000        71,273,091  

Times China Holdings Ltd.

     268,000        448,805  

Tingyi Cayman Islands Holding Corp.

     528,000        863,776  

Tongcheng-Elong Holdings Ltd.*(b)

     285,600        401,636  

Tongwei Co., Ltd. Class A

     223,358        365,593  

Trip.com Group Ltd. ADR*

     101,235        2,373,961  

Uni-President China Holdings Ltd.

     313,000        303,676  

United Energy Group Ltd.

     2,036,000        394,019  

Vipshop Holdings Ltd. ADR*

     101,774        1,585,639  

Walvax Biotechnology Co., Ltd. Class A

     131,200        585,610  

Want Want China Holdings Ltd.

     1,657,000        1,201,453  

Weibo Corp. ADR*(b)

     12,866        425,993  

Wens Foodstuffs Group Co., Ltd. Class A

     330,900        1,506,826  

WH Group Ltd.(a)

     2,198,000        2,055,955  

WuXi AppTec Co., Ltd. Class A

     35,100        447,787  

WuXi AppTec Co., Ltd. Class H(a)(b)

     34,600        425,865  

Wuxi Biologics Cayman, Inc.*(a)

     148,000        1,919,003  

Xiaomi Corp. Class B*(a)(b)

     3,435,000        4,626,740  

Xinjiang Goldwind Science & Technology Co., Ltd. Class A

     263,200        352,512  

Xinyi Glass Holdings Ltd.

     604,000        693,545  

Xinyi Solar Holdings Ltd.

     784,000        444,047  

Yihai International Holding Ltd.*

     58,000        439,252  

Yonyou Network Technology Co., Ltd. Class A

     138,500        790,023  

Yum China Holdings, Inc.

     95,563        4,073,851  

Zhejiang Longsheng Group Co., Ltd. Class A

     266,800        447,983  

Zhongsheng Group Holdings Ltd.

     169,000        590,886  

ZTO Express Cayman, Inc. ADR

     107,331        2,842,125  
     

 

 

 
Total China               329,407,370  
Czech Republic – 0.1%      

Moneta Money Bank AS(a)

     260,013        535,264  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2020

 

 

 

Investments    Shares      Value  
Hungary – 0.3%

 

MOL Hungarian Oil & Gas PLC

     108,437      $ 636,631  

OTP Bank Nyrt

     52,791        1,525,587  
     

 

 

 
Total Hungary               2,162,218  
India – 9.7%      

ACC Ltd.

     21,860        279,855  

Adani Ports & Special Economic Zone Ltd.

     206,628        686,381  

Ambuja Cements Ltd.

     279,897        576,064  

Apollo Hospitals Enterprise Ltd.

     21,853        329,032  

Asian Paints Ltd.

     78,401        1,727,073  

Avenue Supermarts Ltd.*(a)

     25,483        736,856  

Bajaj Auto Ltd.

     18,555        496,022  

Bajaj Finance Ltd.

     40,361        1,182,160  

Bajaj Finserv Ltd.

     9,181        557,186  

Bajaj Holdings & Investment Ltd.

     8,293        197,160  

Bandhan Bank Ltd.(a)

     48,816        131,475  

Bharat Forge Ltd.

     92,093        286,013  

Bharti Airtel Ltd.*

     438,459        2,555,365  

Bharti Infratel Ltd.

     236,835        500,899  

Britannia Industries Ltd.

     17,534        623,229  

Cipla Ltd.

     118,191        660,624  

Dabur India Ltd.

     138,532        824,128  

Divi’s Laboratories Ltd.

     19,256        506,286  

DLF Ltd.

     192,858        350,402  

Dr. Reddy’s Laboratories Ltd.

     20,226        834,359  

Eicher Motors Ltd.

     2,400        415,461  

Federal Bank Ltd.

     509,416        276,420  

Future Retail Ltd.*

     74,935        77,559  

Godrej Consumer Products Ltd.

     83,611        575,652  

Havells India Ltd.

     68,573        435,497  

HCL Technologies Ltd.

     261,361        1,507,681  

HDFC Life Insurance Co., Ltd.(a)

     101,372        591,405  

Hero MotoCorp., Ltd.

     27,784        586,319  

Hindalco Industries Ltd.

     319,336        403,965  

Hindustan Unilever Ltd.

     160,127        4,865,113  

Housing Development Finance Corp., Ltd.

     394,140        8,508,386  

ICICI Bank Ltd. ADR

     374,395        3,182,357  

ICICI Lombard General Insurance Co., Ltd.(a)

     22,467        321,230  

ICICI Prudential Life Insurance Co., Ltd.(a)

     99,537        468,007  

IDFC Bank Ltd.*

     770,240        214,829  

Indiabulls Housing Finance Ltd.

     150,228        192,126  

IndusInd Bank Ltd.

     141,161        655,506  

Info Edge India Ltd.

     14,884        400,386  

Infosys Ltd. ADR(b)

     806,049        6,617,662  

InterGlobe Aviation Ltd.(a)

     20,800        293,134  

JSW Steel Ltd.

     359,725        695,425  

Jubilant Foodworks Ltd.

     22,125        430,341  

Kotak Mahindra Bank Ltd.

     193,517        3,315,315  

Lupin Ltd.

     69,343        540,481  

Mahindra & Mahindra Financial Services Ltd.

     109,450        212,965  

Mahindra & Mahindra Ltd.

     121,406        457,291  

Marico Ltd.

     117,968        428,592  

Maruti Suzuki India Ltd.

     28,984        1,642,961  

Nestle India Ltd.

     5,931        1,277,955  

Pidilite Industries Ltd.

     29,607      530,843  

Reliance Industries Ltd. GDR(a)

     339,608        10,459,926  

Shree Cement Ltd.

     2,629        609,763  

Shriram Transport Finance Co., Ltd.

     45,649        398,645  

Sun Pharmaceutical Industries Ltd.

     226,677        1,055,611  

Tata Consultancy Services Ltd.

     210,029        5,069,764  

Tata Motors Ltd.*

     376,862        353,941  

Tata Steel Ltd.

     164,237        585,295  

Tech Mahindra Ltd.

     122,538        915,983  

Titan Co., Ltd.

     72,929        900,102  

UltraTech Cement Ltd.

     28,120        1,206,129  

United Breweries Ltd.

     23,124        280,861  

United Spirits Ltd.*

     73,884        473,280  

UPL Ltd.

     141,774        611,876  

Vedanta Ltd.

     365,230        312,359  

Wipro Ltd.

     338,299        879,608  
     

 

 

 
Total India               78,274,576  
Indonesia – 1.8%      

Adaro Energy Tbk PT

     4,053,700        246,055  

Astra International Tbk PT

     7,487,900        1,790,485  

Bank Central Asia Tbk PT

     3,706,000        6,277,023  

Barito Pacific Tbk PT*

     9,834,200        437,143  

Charoen Pokphand Indonesia Tbk PT

     2,722,100        824,474  

Gudang Garam Tbk PT

     101,600        256,024  

Indah Kiat Pulp & Paper Corp. Tbk PT

     1,226,800        301,623  

Indocement Tunggal Prakarsa Tbk PT

     703,000        538,780  

Indofood CBP Sukses Makmur Tbk PT

     754,600        473,071  

Indofood Sukses Makmur Tbk PT

     1,691,500        658,555  

Kalbe Farma Tbk PT

     7,512,100        552,699  

Mitra Keluarga Karyasehat Tbk PT

     2,118,600        279,276  

Sarana Menara Nusantara Tbk PT

     11,678,500        483,322  

Unilever Indonesia Tbk PT

     2,215,000        984,595  

United Tractors Tbk PT

     394,000        408,253  
     

 

 

 
Total Indonesia               14,511,378  
Malaysia – 2.5%      

AMMB Holdings Bhd

     1,315,900        913,819  

Dialog Group Bhd

     2,456,400        1,728,578  

Fraser & Neave Holdings Bhd

     98,800        709,439  

Genting Malaysia Bhd

     1,526,600        710,293  

HAP Seng Consolidated Bhd

     364,900        643,643  

Hartalega Holdings Bhd

     991,500        1,579,056  

Hong Leong Bank Bhd

     530,308        1,652,302  

Hong Leong Financial Group Bhd

     195,500        619,083  

Nestle Malaysia Bhd

     34,000        1,075,880  

Press Metal Aluminium Holdings Bhd

     900,000        685,417  

Public Bank Bhd

     1,888,900        6,952,201  

QL Resources Bhd

     399,300        683,986  

Top Glove Corp. Bhd

     857,400        1,280,146  

Westports Holdings Bhd

     636,000        497,611  

YTL Corp. Bhd

     3,461,358        580,899  
     

 

 

 
Total Malaysia               20,312,353  
Mexico – 2.0%      

America Movil S.A.B. de C.V. Series L

     4,394,082        2,631,663  

Arca Continental S.A.B. de C.V.

     48,276        196,753  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Banco del Bajio S.A.(a)

     332,796      $ 290,532  

Cemex S.A.B. de C.V. Series CPO

     2,218,915        466,309  

Coca-Cola Femsa S.A.B. de C.V.

     124,209        506,435  

Fomento Economico Mexicano S.A.B. de C.V.

     370,290        2,260,641  

Gruma S.A.B. de C.V. Class B

     64,118        496,534  

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

     88,461        302,308  

Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B

     70,168        381,031  

Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B

     26,308        250,483  

Grupo Bimbo S.A.B. de C.V. Series A

     302,735        444,955  

Grupo Elektra S.A.B. de C.V.

     10,246        613,220  

Grupo Financiero Banorte S.A.B. de C.V. Class O

     473,072        1,310,770  

Grupo Financiero Inbursa S.A.B. de C.V. Class O

     319,590        232,139  

Grupo Mexico S.A.B. de C.V. Series B

     518,010        965,835  

Grupo Televisa S.A.B. Series CPO

     514,424        598,646  

Industrias Penoles S.A.B. de C.V.

     32,251        217,048  

Infraestructura Energetica Nova S.A.B. de C.V.

     134,833        417,674  

Kimberly-Clark de Mexico S.A.B. de C.V. Class A

     304,996        466,999  

Megacable Holdings S.A.B. de C.V. Series CPO

     107,485        297,266  

Promotora y Operadora de Infraestructura S.A.B. de C.V.

     67,080        455,192  

Wal-Mart de Mexico S.A.B. de C.V.

     1,018,288        2,419,922  
     

 

 

 
Total Mexico               16,222,355  
Philippines – 1.0%      

Aboitiz Equity Ventures, Inc.

     645,390        478,396  

Ayala Corp.

     66,955        615,312  

Ayala Land, Inc.

     1,363,380        809,557  

Bank of the Philippine Islands

     373,510        453,852  

BDO Unibank, Inc.

     364,483        741,722  

JG Summit Holdings, Inc.

     626,210        643,940  

Jollibee Foods Corp.

     149,010        311,731  

Manila Electric Co.

     80,290        355,196  

SM Investments Corp.

     96,845        1,557,594  

SM Prime Holdings, Inc.

     2,345,700        1,309,829  

Universal Robina Corp.

     247,530        506,156  
     

 

 

 
Total Philippines               7,783,285  
Poland – 0.8%      

Bank Polska Kasa Opieki S.A.

     78,250        1,057,652  

CD Projekt S.A.

     32,036        2,229,832  

Cyfrowy Polsat S.A.

     156,614        898,169  

Dino Polska S.A.*(a)

     22,863        892,282  

LPP S.A.

     676        851,205  

mBank S.A.*

     8,197        437,726  

Santander Bank Polska S.A.

     10,902        455,398  
     

 

 

 
Total Poland               6,822,264  
Russia – 4.0%      

Lukoil PJSC ADR

     166,634        9,998,040  

Mail.ru Group Ltd. GDR*(c)

     51,741        840,274  

MMC Norilsk Nickel PJSC ADR

     242,774        6,049,928  

Mobile TeleSystems PJSC ADR

     160,400        1,219,040  

Novatek PJSC GDR(c)

     39,058        4,503,388  

Novolipetsk Steel PJSC GDR

     57,826      919,433  

PhosAgro PJSC GDR(c)

     44,849        462,842  

Polymetal International PLC

     88,527        1,514,264  

Polyus PJSC GDR(c)

     20,915        1,426,403  

Severstal PJSC GDR(c)

     59,125        653,923  

X5 Retail Group N.V. GDR(c)

     44,064        1,189,728  

Yandex N.V. Class A*

     114,146        3,886,671  
     

 

 

 
Total Russia               32,663,934  
South Africa – 4.2%      

Absa Group Ltd.

     139,368        585,252  

Anglo American Platinum Ltd.(b)

     11,170        471,686  

AngloGold Ashanti Ltd.

     81,784        1,461,259  

Aspen Pharmacare Holdings Ltd.*

     94,977        491,583  

Bid Corp., Ltd.

     70,914        844,456  

Bidvest Group Ltd. (The)(b)

     83,374        682,490  

Capitec Bank Holdings Ltd.

     13,925        686,114  

Clicks Group Ltd.

     61,770        891,273  

Discovery Ltd.(b)

     57,995        253,152  

Exxaro Resources Ltd.(b)

     54,271        300,800  

FirstRand Ltd.(b)

     770,864        1,738,113  

Foschini Group Ltd. (The)

     48,140        182,398  

Gold Fields Ltd.

     154,541        798,491  

Hyprop Investments Ltd.

     129,542        137,811  

Impala Platinum Holdings Ltd.(b)

     158,978        674,188  

Investec Ltd.

     109,110        207,651  

Investec PLC(b)

     166,765        307,572  

Kumba Iron Ore Ltd.

     14,553        228,204  

Mediclinic International PLC

     65,500        210,106  

Momentum Metropolitan Holdings

     285,673        249,364  

MultiChoice Group*

     111,890        537,335  

Naspers Ltd. Class N

     91,760        13,120,293  

Nedbank Group Ltd.

     93,223        431,457  

Ninety One Ltd.*

     52,740        101,434  

Ninety One PLC*(b)

     80,605        172,989  

Northam Platinum Ltd.*

     64,491        250,634  

Old Mutual Ltd.(b)

     1,116,487        740,782  

Pick n Pay Stores Ltd.

     156,160        529,860  

PSG Group Ltd.

     31,304        226,349  

Remgro Ltd.

     143,578        987,762  

Sanlam Ltd.

     405,028        1,158,616  

Shoprite Holdings Ltd.

     118,892        832,111  

Sibanye Stillwater Ltd.*(b)

     409,162        517,065  

SPAR Group Ltd. (The)

     60,039        610,979  

Standard Bank Group Ltd.(b)

     239,948        1,376,678  

Vodacom Group Ltd.(b)

     164,211        1,075,830  

Woolworths Holdings Ltd.

     258,197        399,006  
     

 

 

 
Total South Africa               34,471,143  
South Korea – 12.4%      

Amorepacific Corp.

     4,633        641,279  

Amorepacific Group

     7,667        348,915  

BGF Retail Co., Ltd.

     2,617        283,767  

Celltrion Healthcare Co., Ltd.*(b)

     17,647        1,300,313  

Celltrion, Inc.*

     17,736        3,336,381  

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Cheil Worldwide, Inc.

     26,874      $ 349,902  

Coway Co., Ltd.

     11,846        562,450  

Daelim Industrial Co., Ltd.

     8,855        536,094  

Doosan Bobcat, Inc.

     17,830        262,906  

Doosan Co., Ltd.

     2,335        64,065  

Doosan Fuel Cell Co., Ltd.*

     7,892        33,841  

Doosan Solus Co., Ltd.*

     4,213        63,852  

Fila Holdings Corp.

     10,228        244,074  

GS Engineering & Construction Corp.

     10,309        173,602  

GS Holdings Corp.

     8,859        267,804  

Hana Financial Group, Inc.

     73,951        1,403,268  

Hanmi Pharm Co., Ltd.

     2,079        446,592  

Hanon Systems

     45,140        328,904  

Hanwha Corp.

     33,382        419,554  

Hanwha Solutions Corp.

     42,732        470,373  

HLB, Inc.*(b)

     6,572        485,875  

Hotel Shilla Co., Ltd.

     6,667        386,104  

Hyundai Department Store Co., Ltd.

     9,316        449,978  

Hyundai Engineering & Construction Co., Ltd.

     19,888        448,454  

Hyundai Glovis Co., Ltd.

     5,623        418,486  

Hyundai Heavy Industries Holdings Co., Ltd.

     2,598        421,493  

Hyundai Motor Co.

     31,065        2,263,495  

Hyundai Steel Co.

     27,851        410,667  

Kakao Corp.

     10,833        1,383,769  

KB Financial Group, Inc.

     88,831        2,521,141  

Kia Motors Corp.

     60,028        1,282,070  

Korea Investment Holdings Co., Ltd.

     7,655        312,840  

Korea Shipbuilding & Offshore Engineering Co., Ltd.*

     8,586        554,368  

Korea Zinc Co., Ltd.

     3,633        1,062,429  

KT&G Corp.

     29,136        1,787,866  

Kumho Petrochemical Co., Ltd.

     6,866        365,480  

LG Chem Ltd.

     8,550        2,142,153  

LG Corp.

     33,819        1,639,069  

LG Display Co., Ltd.

     33,215        302,860  

LG Electronics, Inc.

     23,358        924,841  

LG Household & Health Care Ltd.

     1,723        1,585,214  

LG Innotek Co., Ltd.

     3,637        340,591  

LG Uplus Corp.

     37,282        330,756  

Lotte Chemical Corp.

     2,053        325,485  

Macquarie Korea Infrastructure Fund

     76,558        682,346  

Meritz Securities Co., Ltd.

     107,915        250,872  

Mirae Asset Daewoo Co., Ltd.

     116,290        503,428  

NAVER Corp.

     28,812        4,023,526  

NCSoft Corp.

     3,268        1,750,307  

Netmarble Corp.*(a)

     9,617        736,275  

Orion Corp.

     4,596        434,173  

Ottogi Corp.

     1,267        494,893  

POSCO

     12,186        1,611,653  

Samsung Biologics Co., Ltd.*(a)

     2,895        1,146,252  

Samsung Electro-Mechanics Co., Ltd.

     10,883        873,429  

Samsung Electronics Co., Ltd.

     996,894        39,102,714  

Samsung Engineering Co., Ltd.*

     28,626        238,677  

Samsung Fire & Marine Insurance Co., Ltd.

     6,656        842,013  

Samsung Heavy Industries Co., Ltd.*

     99,390      318,414  

Samsung Life Insurance Co., Ltd.

     6,930        244,786  

Samsung SDS Co., Ltd.

     6,706        823,549  

Samsung Securities Co., Ltd.

     11,859        285,917  

Shinhan Financial Group Co., Ltd.

     100,200        2,354,064  

SK Holdings Co., Ltd.

     6,328        870,695  

SK Hynix, Inc.

     109,002        7,458,715  

SK Innovation Co., Ltd.

     9,939        710,308  

SK Telecom Co., Ltd.

     6,332        920,659  

Yuhan Corp.

     3,035        570,925  
     

 

 

 
Total South Korea               100,932,010  
Taiwan – 12.6%      

Accton Technology Corp.

     65,000        350,346  

Acer, Inc.

     934,000        481,801  

Advantech Co., Ltd.

     47,000        387,762  

Airtac International Group

     18,000        268,439  

ASE Technology Holding Co., Ltd.

     631,062        1,222,831  

Asia Cement Corp.

     612,000        797,341  

Asustek Computer, Inc.

     243,000        1,643,222  

AU Optronics Corp.

     4,031,000        845,082  

Catcher Technology Co., Ltd.

     243,000        1,570,904  

Cathay Financial Holding Co., Ltd.

     1,969,854        2,299,352  

Chailease Holding Co., Ltd.

     294,000        889,539  

Chang Hwa Commercial Bank Ltd.

     1,622,894        1,022,308  

Cheng Shin Rubber Industry Co., Ltd.

     585,000        595,804  

Chicony Electronics Co., Ltd.

     74,240        186,082  

China Development Financial Holding Corp.

     2,374,000        582,480  

China Life Insurance Co., Ltd.*

     677,564        377,526  

Chroma ATE, Inc.

     48,000        197,609  

Compal Electronics, Inc.

     1,389,000        794,593  

CTBC Financial Holding Co., Ltd.

     4,280,672        2,533,738  

Delta Electronics, Inc.

     393,000        1,565,944  

E.Sun Financial Holding Co., Ltd.

     2,639,602        2,116,639  

Eclat Textile Co., Ltd.

     23,000        182,911  

Far Eastern New Century Corp.

     1,042,080        777,042  

Far EasTone Telecommunications Co., Ltd.

     289,000        604,920  

Feng TAY Enterprise Co., Ltd.

     83,800        360,233  

Formosa Chemicals & Fibre Corp.

     696,000        1,541,987  

Formosa Petrochemical Corp.

     325,000        874,791  

Formosa Plastics Corp.

     1,006,000        2,498,242  

Fubon Financial Holding Co., Ltd.

     1,657,000        2,057,449  

Giant Manufacturing Co., Ltd.

     45,000        199,395  

Hiwin Technologies Corp.

     29,755        197,275  

Hon Hai Precision Industry Co., Ltd.

     2,353,068        5,438,866  

Hotai Motor Co., Ltd.

     64,000        1,039,102  

Innolux Corp.

     4,247,000        734,481  

Inventec Corp.

     966,000        744,269  

Largan Precision Co., Ltd.

     18,000        2,279,649  

Lite-On Technology Corp.

     626,015        854,932  

Macronix International

     365,742        308,398  

MediaTek, Inc.

     310,000        3,357,142  

Micro-Star International Co., Ltd.

     237,000        695,134  

Nan Ya Plastics Corp.

     1,320,000        2,387,580  

Nanya Technology Corp.

     277,000        491,870  

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Novatek Microelectronics Corp.

     85,000      $ 483,442  

Pegatron Corp.

     340,000        652,084  

Pou Chen Corp.

     662,000        561,490  

Powertech Technology, Inc.

     280,000        795,331  

President Chain Store Corp.

     77,000        720,566  

Quanta Computer, Inc.

     664,000        1,321,786  

Realtek Semiconductor Corp.

     70,000        505,762  

Shanghai Commercial & Savings Bank Ltd. (The)

     989,000        1,286,879  

Shin Kong Financial Holding Co., Ltd.*

     1,949,802        491,940  

SinoPac Financial Holdings Co., Ltd.

     2,915,452        1,065,283  

Taishin Financial Holding Co., Ltd.

     2,263,654        875,775  

Taiwan Cement Corp.

     958,744        1,252,266  

Taiwan Mobile Co., Ltd.

     350,000        1,156,193  

Taiwan Semiconductor Manufacturing Co., Ltd.

     3,900,000        35,335,549  

Uni-President Enterprises Corp.

     1,243,160        2,696,668  

Unimicron Technology Corp.

     299,000        316,386  

United Microelectronics Corp.

     2,071,000        934,780  

Walsin Lihwa Corp.

     954,000        347,007  

Walsin Technology Corp.

     42,000        223,600  

Winbond Electronics Corp.

     731,000        274,353  

Wistron Corp.

     704,078        570,405  

Yageo Corp.

     32,396        294,056  

Yuanta Financial Holding Co., Ltd.

     2,361,236        1,214,134  

Zhen Ding Technology Holding Ltd.

     69,000        212,192  
     

 

 

 
Total Taiwan               101,942,937  
Thailand – 2.0%      

Advanced Info Service PCL NVDR

     237,200        1,452,798  

B Grimm Power PCL NVDR

     255,900        309,957  

Bangkok Dusit Medical Services PCL NVDR

     1,460,600        841,178  

Bangkok Expressway & Metro PCL NVDR

     2,420,900        571,707  

Berli Jucker PCL NVDR

     462,900        571,264  

BTS Group Holdings PCL NVDR

     2,586,500        717,213  

Bumrungrad Hospital PCL NVDR

     205,300        713,162  

Central Pattana PCL NVDR

     620,600        808,430  

Central Retail Corp. PCL NVDR*

     274,408        234,126  

Charoen Pokphand Foods PCL NVDR

     1,188,800        880,257  

CP ALL PCL NVDR

     821,500        1,526,975  

Energy Absolute PCL NVDR

     621,100        638,748  

Fabrinet*

     11,861        647,136  

Gulf Energy Development PCL NVDR

     263,400        1,203,931  

Home Product Center PCL NVDR

     1,650,600        558,289  

Indorama Ventures PCL NVDR

     926,300        604,032  

Intouch Holdings PCL NVDR

     533,000        812,067  

Land & Houses PCL NVDR

     1,491,900        304,585  

Minor International PCL NVDR

     967,900        495,489  

Muangthai Capital PCL NVDR

     200,900        214,261  

Osotspa PCL NVDR

     403,300        439,338  

Srisawad Corp. PCL NVDR

     207,400        268,592  

Thai Union Group PCL NVDR

     1,330,500        559,485  

Thanachart Capital PCL NVDR

     272,300        275,889  

True Corp. PCL NVDR(b)

     4,496,900        430,266  

WHA Corp. PCL NVDR

     2,912,600        195,253  
     

 

 

 
Total Thailand               16,274,428  
Turkey – 0.6%      

Akbank T.A.S.*

     910,289      773,509  

BIM Birlesik Magazalar AS

     121,648        925,708  

Enka Insaat ve Sanayi AS

     494,905        467,100  

KOC Holding AS

     324,282        660,841  

Tupras Turkiye Petrol Rafinerileri AS*

     27,303        312,792  

Turkcell Iletisim Hizmetleri AS

     345,290        645,495  

Turkiye Garanti Bankasi AS*

     621,445        766,640  
     

 

 

 
Total Turkey               4,552,085  
United Kingdom – 0.1%      

Evraz PLC

     229,202        658,205  

TOTAL COMMON STOCKS

(Cost: $937,143,320)

              807,741,133  
WARRANTS – 0.0%      
Thailand – 0.0%      
BTS Group Holdings PCL, expiring 2/16/21* (Cost: $0)      175,190        3,096  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.6%

 

United States – 1.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(d)

     
(Cost: $12,965,657)      12,965,657        12,965,657  

TOTAL INVESTMENTS IN SECURITIES – 101.3%

(Cost: $950,108,977)

 

 

     820,709,886  

Other Assets less Liabilities – (1.3)%

 

     (10,718,448
     

 

 

 
NET ASSETS – 100.0%

 

   $ 809,991,438  
* 

Non-income producing security.

 

 

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

 

(a) 

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

 

(b) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $18,904,651 and the total market value of the collateral held by the Fund was $19,743,583. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $6,777,926.

 

(c) 

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

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Table of Contents

Schedule of Investments

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.6%

 

Brazil – 3.1%

 

AES Tiete Energia S.A.

     400,583      $ 1,013,313  

Banco do Brasil S.A.

     1,156,511        6,218,928  

Banco Santander Brasil S.A.

     350,976        1,804,753  

BB Seguridade Participacoes S.A.

     583,979        2,797,956  

BR Malls Participacoes S.A.

     1,231,829        2,370,272  

Cia de Saneamento do Parana

     435,582        2,002,975  

Cia Siderurgica Nacional S.A.

     1,650,602        2,221,340  

Cielo S.A.

     4,119,828        3,526,788  

Cyrela Brazil Realty S.A. Empreendimentos e Participacoes

     531,746        1,448,651  

Duratex S.A.

     712,961        1,285,271  

Itau Unibanco Holding S.A.

     848,250        3,611,105  

Itausa – Investimentos Itau S.A.

     637,213        1,222,433  

Klabin S.A.

     1,681,101        5,182,741  

Mahle-Metal Leve S.A.

     159,374        538,970  

Petrobras Distribuidora S.A.

     1,261,201        3,771,493  

Porto Seguro S.A.

     102,875        890,978  

Qualicorp Consultoria e Corretora de Seguros S.A.

     328,382        1,494,199  

SLC Agricola S.A.

     187,650        821,281  

Smiles Fidelidade S.A.

     199,644        475,379  

Telefonica Brasil S.A.

     100,216        977,698  

Transmissora Alianca de Energia Eletrica S.A.

     1,004,975        5,004,917  

Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A.

     222,800        397,780  

Wiz Solucoes e Corretagem de Seguros S.A.

     178,679        310,740  

YDUQS Part*

     491,742        2,101,940  
     

 

 

 
Total Brazil               51,491,901  
Chile – 0.8%      

AES Gener S.A.

     11,148,105        1,360,291  

Aguas Andinas S.A. Class A

     5,523,912        1,633,220  

CAP S.A.

     121,843        524,786  

Cia Cervecerias Unidas S.A.

     309,826        2,133,834  

Colbun S.A.

     25,496,405        2,782,013  

Enel Chile S.A.

     44,074,431        2,999,246  

Engie Energia Chile S.A.

     932,495        1,032,799  

Inversiones Aguas Metropolitanas S.A.

     1,190,032        910,340  
     

 

 

 
Total Chile               13,376,529  
China – 32.1%      

Agile Group Holdings Ltd.

     2,192,000        2,372,741  

Agricultural Bank of China Ltd. Class H

     23,743,000        9,526,730  

Angang Steel Co., Ltd. Class H(a)

     2,716,000        714,838  

Anhui Expressway Co., Ltd. Class H

     944,000        465,247  

Anhui Hengyuan Coal Industry and Electricity Power Co., Ltd. Class A

     452,300        297,788  

Asia Cement China Holdings Corp.

     796,500        810,794  

Bank of Beijing Co., Ltd. Class A

     5,458,549        3,716,963  

Bank of Chengdu Co., Ltd. Class A

     611,900        649,590  

Bank of China Ltd. Class H

     68,507,084        26,250,634  

Bank of Communications Co., Ltd. Class H

     21,217,287        13,002,634  

Bank of Jiangsu Co., Ltd. Class A

     2,303,700        1,951,930  

Bank of Nanjing Co., Ltd. Class A

     1,837,700      1,878,350  

Baoshan Iron & Steel Co., Ltd. Class A

     10,009,720        6,872,501  

Beijing Capital Development Co., Ltd. Class A

     678,400        632,195  

Beijing Enterprises Water Group Ltd.*

     7,072,000        2,764,603  

C&D International Investment Group Ltd.

     484,000        668,155  

CGN Power Co., Ltd. Class H(b)

     10,839,000        2,489,184  

Changchun Faway Automobile Components Co., Ltd. Class A

     354,620        509,450  

China Aoyuan Group Ltd.

     763,000        893,837  

China BlueChemical Ltd. Class H

     4,110,000        636,313  

China Cinda Asset Management Co., Ltd. Class H

     7,504,000        1,423,174  

China CITIC Bank Corp., Ltd. Class H

     9,317,000        4,603,867  

China Construction Bank Corp. Class H

     72,242,054        59,091,799  

China Everbright Bank Co., Ltd. Class H

     5,021,000        1,923,953  

China Fortune Land Development Co., Ltd. Class A

     523,600        1,542,063  

China Hongqiao Group Ltd.

     2,590,500        1,102,924  

China International Marine Containers Group Co., Ltd. Class H(a)

     924,300        863,375  

China Jinmao Holdings Group Ltd.

     2,984,000        1,932,638  

China Lesso Group Holdings Ltd.

     1,068,000        1,408,218  

China Lilang Ltd.

     1,308,000        756,021  

China Merchants Shekou Industrial Zone Holdings Co., Ltd. Class A

     877,882        2,039,658  

China Minsheng Banking Corp., Ltd. Class H(a)

     6,295,000        4,678,063  

China Mobile Ltd.

     6,391,500        47,538,992  

China Molybdenum Co., Ltd. Class H(a)

     4,590,000        1,285,051  

China Oriental Group Co., Ltd.

     3,662,000        940,198  

China Overseas Grand Oceans Group Ltd.

     1,081,000        633,183  

China Petroleum & Chemical Corp. Class H

     59,416,000        29,282,937  

China Power International Development Ltd.

     8,104,000        1,505,601  

China Railway Signal & Communication Corp., Ltd. Class H(b)

     2,020,000        1,019,004  

China Resources Cement Holdings Ltd.

     3,732,000        4,453,805  

China Resources Power Holdings Co., Ltd.

     1,984,000        2,185,986  

China Risun Group Ltd. Class H

     2,706,000        768,066  

China SCE Group Holdings Ltd.

     2,321,000        1,033,099  

China Shenhua Energy Co., Ltd. Class H

     5,963,500        11,356,263  

China South Publishing & Media Group Co., Ltd. Class A

     552,232        827,597  

China Suntien Green Energy Corp., Ltd. Class H

     2,741,000        477,409  

China Union Holdings Ltd. Class A

     936,250        444,821  

China Vanke Co., Ltd. Class H

     956,200        3,152,009  

China ZhengTong Auto Services Holdings Ltd.(a)

     2,779,500        444,668  

China Zhongwang Holdings Ltd.(a)

     3,898,800        1,026,146  

Chongqing Dima Industry Co., Ltd. Class A

     1,163,700        457,730  

Chongqing Rural Commercial Bank Co., Ltd. Class H

     1,780,991        730,696  

Chongqing Water Group Co., Ltd. Class A

     1,559,773        1,145,679  

Chongqing Zongshen Power Machinery Co., Ltd. Class A

     478,150        372,106  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2020

 

 

 

Investments    Shares      Value  

CIFI Holdings Group Co., Ltd.

     3,354,000      $ 2,423,254  

CITIC Telecom International Holdings Ltd.

     3,616,000        1,198,973  

CNOOC Ltd.

     25,863,600        27,128,600  

Consun Pharmaceutical Group Ltd.

     890,000        403,037  

COSCO Shipping Ports Ltd.

     2,450,000        1,182,185  

Country Garden Holdings Co., Ltd.(a)

     5,770,000        6,982,750  

CPMC Holdings Ltd.(a)

     1,157,000        373,182  

CSC Financial Co., Ltd. Class H(a)(b)

     813,000        655,569  

Daqin Railway Co., Ltd. Class A

     5,330,001        5,109,756  

Datang International Power Generation Co., Ltd. Class H

     5,336,000        715,974  

Dongfeng Motor Group Co., Ltd. Class H

     3,448,000        2,273,191  

Fangda Special Steel Technology Co., Ltd. Class A

     1,251,900        1,426,083  

Fosun International Ltd.

     3,344,000        3,865,647  

Fujian Sunner Development Co., Ltd. Class A

     251,100        837,224  

Fuyao Glass Industry Group Co., Ltd. Class H(b)

     832,800        1,781,448  

Gemdale Corp. Class A

     1,468,409        2,916,903  

Genertec Universal Medical Group Co., Ltd.(b)

     1,840,500        1,146,914  

Great Wall Motor Co., Ltd. Class H

     5,321,000        3,411,910  

Greatview Aseptic Packaging Co., Ltd.

     1,474,000        456,412  

Greenland Holdings Corp., Ltd. Class A

     1,021,300        778,959  

Guangdong Ellington Electronics Technology Co., Ltd. Class A

     387,057        563,143  

Guangdong Provincial Expressway Development Co., Ltd. Class A

     837,269        797,950  

Guangdong Tapai Group Co., Ltd. Class A

     784,800        1,367,544  

Guangxi Guiguan Electric Power Co., Ltd. Class A

     2,614,057        1,684,206  

Guangzhou Automobile Group Co., Ltd. Class H

     3,462,000        3,479,464  

Guangzhou R&F Properties Co., Ltd. Class H

     1,580,000        2,062,935  

Hebei Chengde Lolo Co. Class A

     315,620        314,592  

Heilongjiang Agriculture Co., Ltd. Class A

     579,500        1,409,310  

Henan Shuanghui Investment & Development Co., Ltd. Class A

     798,720        4,425,385  

Hengan International Group Co., Ltd.

     930,500        7,004,951  

Hesteel Co., Ltd. Class A

     3,246,425        974,875  

Hisense Home Appliances Group Co., Ltd. Class H

     286,000        263,827  

HLA Corp., Ltd. Class A

     1,057,804        944,002  

Huabao Flavours & Fragrances Co., Ltd. Class A

     131,500        585,095  

Huafu Fashion Co., Ltd. Class A

     677,530        504,343  

Huaneng Lancang River Hydropower, Inc. Class A

     1,099,500        564,236  

Huapont Life Sciences Co., Ltd. Class A

     1,380,300        947,690  

Huaxin Cement Co., Ltd. Class A

     350,520        1,149,935  

Huayu Automotive Systems Co., Ltd. Class A

     851,343        2,585,319  

Industrial & Commercial Bank of China Ltd. Class H

     55,250,823        37,851,330  

Jiangsu Expressway Co., Ltd. Class H

     1,646,527        1,837,523  

Jiangxi Wannianqing Cement Co., Ltd. Class A

     454,000        752,069  

Jinke Properties Group Co., Ltd. Class A

     1,163,100      1,305,251  

Kingboard Holdings Ltd.

     818,500        1,917,708  

KWG Group Holdings Ltd.*

     1,503,000        2,136,921  

Lanzhou Minbai Shareholding Group Co., Ltd. Class A

     616,838        499,168  

Lee & Man Paper Manufacturing Ltd.

     2,377,000        1,441,368  

Lenovo Group Ltd.

     8,364,000        4,489,058  

Liuzhou Iron & Steel Co., Ltd. Class A

     815,900        564,784  

Livzon Pharmaceutical Group, Inc. Class H

     160,450        591,008  

Logan Property Holdings Co., Ltd.

     1,108,000        1,709,696  

Lomon Billions Group Co., Ltd. Class A

     1,127,960        2,374,201  

Lonking Holdings Ltd.

     4,644,000        1,390,042  

Luxi Chemical Group Co., Ltd. Class A

     745,700        857,864  

Maanshan Iron & Steel Co., Ltd. Class H(a)

     6,260,000        1,962,585  

Markor International Home Furnishings Co., Ltd. Class A

     1,080,100        627,372  

Metallurgical Corp. of China Ltd. Class H

     3,529,000        619,211  

Midea Real Estate Holding Ltd.(a)(b)

     218,600        544,885  

Nanjing Iron & Steel Co., Ltd. Class A

     3,883,100        1,718,985  

Nine Dragons Paper Holdings Ltd.

     3,853,000        3,514,522  

Ningbo Sanxing Medical Electric Co., Ltd. Class A

     572,065        595,204  

North Huajin Chemical Industries Co., Ltd. Class A

     855,200        678,797  

PetroChina Co., Ltd. Class H

     25,704,000        9,418,179  

Postal Savings Bank of China Co., Ltd. Class H(b)

     6,293,000        3,832,195  

Powerlong Real Estate Holdings Ltd.

     1,109,000        652,446  

Qingdao Port International Co., Ltd. Class H(b)

     2,473,000        1,352,813  

RiseSun Real Estate Development Co., Ltd. Class A

     693,400        757,617  

SAIC Motor Corp., Ltd. Class A

     2,697,478        7,796,069  

Sansteel Minguang Co., Ltd. Fujian Class A

     1,950,694        2,191,853  

Seazen Group Ltd.(a)

     1,106,000        998,852  

Seazen Holdings Co., Ltd. Class A

     301,100        1,327,402  

Shandong Buchang Pharmaceuticals Co., Ltd. Class A

     544,275        1,544,636  

Shanghai Construction Group Co., Ltd. Class A

     2,606,500        1,179,578  

Shanghai Electric Power Co., Ltd. Class A

     555,000        549,280  

Shanghai Jin Jiang Capital Co., Ltd. Class H

     3,210,000        538,389  

Shanghai Zijiang Enterprise Group Co., Ltd. Class A

     881,500        520,715  

Shanxi Lanhua Sci-Tech Venture Co., Ltd. Class A

     625,200        460,101  

Shanxi Xishan Coal & Electricity Power Co., Ltd. Class A

     1,175,061        803,463  

Shenzhen Investment Ltd.

     3,634,000        1,134,614  

Shenzhen Overseas Chinese Town Co., Ltd. Class A

     1,963,400        1,768,779  

Shenzhen Salubris Pharmaceuticals Co., Ltd. Class A

     236,500        591,492  

Shimao Property Holdings Ltd.

     682,000        2,402,121  

Shougang Fushan Resources Group Ltd.

     9,642,000        1,754,018  

Shui On Land Ltd.

     5,056,500        848,089  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Sino-Ocean Group Holding Ltd.

     3,996,000      $ 1,015,639  

Sinoma International Engineering Co. Class A

     794,000        676,116  

Sinopec Engineering Group Co., Ltd. Class H

     1,903,000        800,395  

Sinopec Kantons Holdings Ltd.

     2,238,000        854,672  

Sinopec Shanghai Petrochemical Co., Ltd. Class H

     9,814,000        2,431,057  

Sinotrans Ltd. Class H

     3,532,000        870,366  

Sinotruk Hong Kong Ltd.

     977,500        1,626,876  

SITC International Holdings Co., Ltd.

     1,871,000        1,750,087  

Sunflower Pharmaceutical Group Co., Ltd. Class A

     289,100        561,644  

Tangshan Sanyou Chemical Industries Co., Ltd. Class A

     987,200        698,671  

TCL Electronics Holdings Ltd.

     1,114,000        467,107  

Tianneng Power International Ltd.(a)

     1,602,000        1,192,576  

Times China Holdings Ltd.

     599,000        1,003,112  

Wanhua Chemical Group Co., Ltd. Class A

     946,955        5,507,027  

Weichai Power Co., Ltd. Class H

     2,175,000        3,502,045  

Weifu High-Technology Group Co., Ltd. Class A

     568,899        1,523,887  

Wuchan Zhongda Group Co., Ltd. Class A

     1,345,819        910,735  

Xiamen C & D, Inc. Class A

     1,321,900        1,425,686  

Xiamen Kingdomway Group Co. Class A

     166,000        516,037  

Xinxing Ductile Iron Pipes Co., Ltd. Class A

     2,234,900        1,083,878  

Xinyi Glass Holdings Ltd.

     4,106,000        4,714,730  

Xinyu Iron & Steel Co., Ltd. Class A

     1,012,400        580,912  

XTEP International Holdings Ltd.

     1,540,400        506,782  

Yang Quan Coal Industry Group Co., Ltd. Class A

     949,072        615,490  

Yangtze Optical Fibre and Cable Joint Stock Ltd. Co. Class H(a)(b)

     292,000        529,683  

Yanzhou Coal Mining Co., Ltd. Class H

     3,298,000        2,587,034  

Yuexiu Property Co., Ltd.

     4,329,000        781,922  

Yuexiu Transport Infrastructure Ltd.

     1,781,900        1,087,408  

Yuzhou Properties Co., Ltd.

     2,643,600        1,125,531  

Zhejiang Expressway Co., Ltd. Class H

     2,499,500        1,741,385  

Zhejiang Hisoar Pharmaceutical Co., Ltd. Class A

     625,500        542,333  

Zhejiang Runtu Co., Ltd. Class A

     424,700        574,801  

Zhejiang Wanfeng Auto Wheel Co., Ltd. Class A

     689,600        641,660  

Zhejiang Xinan Chemical Industrial Group Co., Ltd. Class A

     511,600        623,894  

Zhuzhou Kibing Group Co., Ltd. Class A

     1,991,600        1,356,167  

Zoomlion Heavy Industry Science and Technology Co., Ltd. Class H(a)

     1,776,200        1,292,465  
     

 

 

 
Total China               526,370,112  
Czech Republic – 0.2%      

Komercni Banka AS

     105,566        1,996,458  

Moneta Money Bank AS(b)

     777,667        1,600,910  
     

 

 

 
Total Czech Republic               3,597,368  
Hong Kong – 0.3%      

China Water Affairs Group Ltd.

     1,012,000        759,891  

Chow Tai Fook Jewellery Group Ltd.

     3,034,400        2,149,280  

Kingboard Laminates Holdings Ltd.

     1,460,500        1,351,041  

Stella International Holdings Ltd.

     942,000      990,505  
     

 

 

 
Total Hong Kong               5,250,717  
Hungary – 0.1%      

Magyar Telekom Telecommunications PLC

     1,073,566        1,193,629  
India – 2.2%

 

Bharti Infratel Ltd.

     2,188,990        4,629,645  

Coal India Ltd.

     3,655,860        6,767,941  

Graphite India Ltd.

     204,403        343,818  

HEG Ltd.

     47,339        302,864  

Hindustan Petroleum Corp., Ltd.

     1,113,938        2,799,155  

Indiabulls Housing Finance Ltd.

     856,219        1,095,014  

Indian Oil Corp., Ltd.

     5,331,718        5,754,495  

National Aluminium Co., Ltd.

     2,423,166        932,095  

NHPC Ltd.

     6,838,427        1,803,362  

NLC India Ltd.

     1,185,646        688,024  

NMDC Ltd.

     1,649,089        1,743,886  

Oil India Ltd.

     873,179        953,960  

REC Ltd.

     1,341,420        1,573,682  

Vedanta Ltd.

     7,317,399        6,258,135  
     

 

 

 
Total India               35,646,076  
Indonesia – 0.9%      

Adaro Energy Tbk PT

     37,853,400        2,297,662  

AKR Corporindo Tbk PT

     2,490,400        301,566  

Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT

     5,920,500        266,804  

Bukit Asam Tbk PT

     16,076,600        2,148,804  

Gudang Garam Tbk PT

     823,000        2,073,899  

Hanjaya Mandala Sampoerna Tbk PT

     16,840,500        1,471,350  

Indika Energy Tbk PT

     7,237,200        308,391  

Indo Tambangraya Megah Tbk PT

     1,586,400        787,850  

Japfa Comfeed Indonesia Tbk PT

     12,796,900        745,374  

Matahari Department Store Tbk PT

     6,719,100        549,969  

United Tractors Tbk PT

     2,981,400        3,089,249  

Waskita Beton Precast Tbk PT

     29,691,500        238,479  
     

 

 

 
Total Indonesia               14,279,397  
Malaysia – 1.8%      

AirAsia Group Bhd

     4,191,900        766,574  

Alliance Bank Malaysia Bhd

     1,474,300        648,419  

AMMB Holdings Bhd

     1,873,100        1,300,764  

Astro Malaysia Holdings Bhd

     5,607,500        1,103,327  

Berjaya Sports Toto Bhd

     2,198,472        1,170,483  

Bermaz Auto Bhd

     2,545,800        665,915  

British American Tobacco Malaysia Bhd

     452,797        1,079,585  

CIMB Group Holdings Bhd

     5,978,400        4,982,000  

Lotte Chemical Titan Holding Bhd(b)

     1,375,900        369,455  

Malayan Banking Bhd

     7,844,465        13,528,070  

Malaysia Building Society Bhd

     2,838,800        367,993  

RHB Bank Bhd

     2,688,800        2,919,091  

YTL Corp. Bhd

     7,973,478        1,338,142  
     

 

 

 
Total Malaysia               30,239,818  
Mexico – 1.9%      

Alfa S.A.B. de C.V. Class A

     4,457,387        1,216,035  

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Alpek S.A.B. de C.V.(a)

     739,101      $ 266,224  

Banco del Bajio S.A.(b)

     605,021        528,185  

Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santander(a)

     508,361        338,918  

Bolsa Mexicana de Valores S.A.B. de C.V.

     391,225        604,367  

Concentradora Fibra Danhos S.A. de C.V.

     1,350,440        1,119,071  

GMexico Transportes S.A.B. de C.V.(a)(b)

     937,142        835,705  

Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B

     737,811        4,006,511  

Grupo Financiero Banorte S.A.B. de C.V. Class O

     2,158,687        5,981,208  

Grupo Mexico S.A.B. de C.V. Series B

     7,913,038        14,753,936  

Macquarie Mexico Real Estate Management S.A. de C.V.(b)

     919,158        771,867  

Nemak S.A.B. de C.V.(b)

     2,315,571        392,850  

Prologis Property Mexico S.A. de C.V.

     354,687        540,514  
     

 

 

 
Total Mexico               31,355,391  
Philippines – 0.6%      

DMCI Holdings, Inc.

     9,572,800        709,584  

Globe Telecom, Inc.

     53,560        2,032,458  

Manila Electric Co.

     462,690        2,046,899  

PLDT, Inc.

     204,879        4,547,943  

Semirara Mining & Power Corp.

     2,811,200        608,006  
     

 

 

 
Total Philippines               9,944,890  
Poland – 0.8%      

Asseco Poland S.A.

     139,118        1,942,661  

Bank Handlowy w Warszawie S.A.

     48,126        486,648  

Bank Polska Kasa Opieki S.A.

     170,934        2,310,397  

Eurocash S.A.

     128,165        524,571  

Jastrzebska Spolka Weglowa S.A.

     225,973        676,804  

Powszechny Zaklad Ubezpieczen S.A.

     715,969        5,400,580  

Santander Bank Polska S.A.

     38,229        1,596,902  

Warsaw Stock Exchange

     49,487        411,051  
     

 

 

 
Total Poland               13,349,614  
Russia – 18.4%      

Gazprom Neft PJSC ADR

     125,515        2,455,073  

Gazprom PJSC ADR

     15,461,586        71,726,298  

Lukoil PJSC ADR

     708,084        42,485,040  

Magnit PJSC GDR(c)

     1,088,111        9,751,651  

Magnitogorsk Iron & Steel Works PJSC GDR(c)

     604,564        3,790,616  

MMC Norilsk Nickel PJSC ADR

     2,193,808        54,669,695  

Mobile TeleSystems PJSC ADR

     1,661,201        12,625,128  

Novolipetsk Steel PJSC GDR

     514,301        8,177,386  

PhosAgro PJSC GDR(c)

     370,738        3,826,016  

Rosneft Oil Co. PJSC GDR(c)

     2,775,530        11,293,632  

Sberbank of Russia PJSC ADR

     3,281,502        31,272,714  

Severstal PJSC GDR(c)

     828,911        9,167,756  

Tatneft PJSC ADR

     966,881        40,850,722  
     

 

 

 
Total Russia               302,091,727  
Singapore – 0.1%      

IGG, Inc.(a)

     1,376,000        821,954  
South Africa – 4.9%

 

Absa Group Ltd.

     862,541      3,622,093  

Aeci Ltd.

     214,288        881,868  

African Rainbow Minerals Ltd.

     260,681        1,470,965  

Assore Ltd.

     183,908        3,064,550  

Astral Foods Ltd.

     141,840        1,524,582  

Attacq Ltd.

     923,005        241,862  

AVI Ltd.

     543,354        2,141,168  

Coronation Fund Managers Ltd.

     425,340        750,180  

Equites Property Fund Ltd.

     781,741        724,402  

Exxaro Resources Ltd.(a)

     991,930        5,497,825  

FirstRand Ltd.(a)

     2,924,900        6,594,945  

Foschini Group Ltd. (The)

     391,131        1,481,962  

Hyprop Investments Ltd.

     569,177        605,508  

Imperial Logistics Ltd.(a)

     312,932        463,616  

Investec Ltd.(a)

     330,557        629,095  

JSE Ltd.(a)

     99,770        565,605  

KAP Industrial Holdings Ltd.

     4,554,221        382,493  

Kumba Iron Ore Ltd.(a)

     214,066        3,356,737  

Liberty Holdings Ltd.(a)

     129,536        480,864  

Metair Investments Ltd.

     277,778        217,743  

Motus Holdings Ltd.

     428,910        653,211  

Mr. Price Group Ltd.

     398,493        2,545,357  

MTN Group Ltd.(a)

     3,242,574        8,785,451  

Nedbank Group Ltd.

     413,569        1,914,088  

Netcare Ltd.

     3,034,421        2,548,506  

Oceana Group Ltd.

     211,509        651,344  

Old Mutual Ltd.(a)

     4,809,956        3,191,376  

Resilient REIT Ltd.

     363,109        650,587  

Reunert Ltd.

     379,780        921,594  

Standard Bank Group Ltd.(a)

     1,263,273        7,247,905  

Telkom S.A. SOC Ltd.

     495,821        569,944  

Tiger Brands Ltd.

     293,868        3,043,985  

Truworths International Ltd.

     1,035,659        1,448,531  

Tsogo Sun Gaming Ltd.

     2,254,925        391,392  

Vodacom Group Ltd.

     1,602,690        10,500,042  
     

 

 

 
Total South Africa               79,761,376  
South Korea – 3.0%      

Coway Co., Ltd.

     84,856        4,028,978  

DGB Financial Group, Inc.

     166,821        628,996  

Hana Financial Group, Inc.

     330,150        6,264,809  

Huchems Fine Chemical Corp.

     60,296        730,575  

Hyundai Heavy Industries Holdings Co., Ltd.

     18,258        2,962,135  

Industrial Bank of Korea

     286,706        1,766,374  

KEPCO Plant Service & Engineering Co., Ltd.

     51,740        1,234,688  

LOTTE Himart Co., Ltd.(a)

     21,862        281,053  

Meritz Fire & Marine Insurance Co., Ltd.

     58,146        582,726  

POSCO

     121,018        16,005,174  

Samsung Fire & Marine Insurance Co., Ltd.

     31,057        3,928,844  

SK Innovation Co., Ltd.

     93,251        6,664,342  

Ssangyong Cement Industrial Co., Ltd.(a)

     265,258        982,719  

Woori Financial Group, Inc.

     495,993        3,116,890  
     

 

 

 
Total South Korea               49,178,303  

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2020

 

 

 

Investments    Shares      Value  
Taiwan – 25.6%      

AcBel Polytech, Inc.

     1,200,000      $ 712,266  

Asia Cement Corp.(a)

     5,624,000        7,327,203  

Asustek Computer, Inc.(a)

     1,818,000        12,293,735  

Aten International Co., Ltd.

     324,000        838,887  

Catcher Technology Co., Ltd.(a)

     1,314,000        8,494,519  

Charoen Pokphand Enterprise

     358,000        699,628  

Chicony Electronics Co., Ltd.

     870,386        2,181,613  

Chilisin Electronics Corp.(a)

     744,000        1,987,838  

China General Plastics Corp.

     1,193,912        558,632  

Chong Hong Construction Co., Ltd.(a)

     451,000        1,119,987  

Chung-Hsin Electric & Machinery Manufacturing Corp.

     753,000        556,505  

Cleanaway Co., Ltd.

     250,000        1,149,083  

Compal Electronics, Inc.(a)

     7,917,000        4,529,011  

Continental Holdings Corp.

     948,000        309,715  

CTBC Financial Holding Co., Ltd.

     16,835,000        9,964,668  

CTCI Corp.

     1,192,000        1,154,890  

Darfon Electronics Corp.(a)

     783,000        772,863  

Elan Microelectronics Corp.

     579,000        1,606,339  

Elite Advanced Laser Corp.(a)

     396,500        798,467  

Elite Semiconductor Memory Technology, Inc.

     578,000        540,892  

Everlight Electronics Co., Ltd.

     876,000        721,274  

Far Eastern New Century Corp.(a)

     8,586,000        6,402,272  

Far EasTone Telecommunications Co., Ltd.(a)

     3,008,000        6,296,196  

Farglory Land Development Co., Ltd.

     456,000        572,987  

Feng Hsin Steel Co., Ltd.

     465,000        709,613  

First Financial Holding Co., Ltd.

     8,149,830        5,295,510  

Formosa Chemicals & Fibre Corp.(a)

     10,231,000        22,666,766  

Formosa International Hotels Corp.

     184,000        666,237  

Formosa Petrochemical Corp.(a)

     3,462,000        9,318,546  

Formosa Plastics Corp.(a)

     9,604,000        23,850,021  

Formosa Sumco Technology Corp.(a)

     328,000        1,404,560  

Foxsemicon Integrated Technology, Inc.

     161,000        617,562  

Fubon Financial Holding Co., Ltd.

     5,732,000        7,117,259  

Fusheng Precision Co., Ltd.

     236,000        1,213,498  

Getac Technology Corp.

     825,000        1,152,597  

Gigabyte Technology Co., Ltd.

     1,018,000        1,716,780  

Greatek Electronics, Inc.(a)

     834,000        1,158,276  

Highwealth Construction Corp.(a)

     1,700,000        2,276,673  

Holiday Entertainment Co., Ltd.

     380,000        688,590  

Holtek Semiconductor, Inc.

     422,000        831,678  

Holy Stone Enterprise Co., Ltd.(a)

     485,000        1,430,551  

Hon Hai Precision Industry Co., Ltd.

     24,030,000        55,542,781  

Hsin Kuang Steel Co., Ltd.(a)

     607,000        430,539  

Huaku Development Co., Ltd.

     331,000        904,076  

IBF Financial Holdings Co., Ltd.

     2,234,510        764,750  

Inventec Corp.(a)

     7,640,000        5,886,348  

King’s Town Bank Co., Ltd.

     853,000        799,648  

Kinik Co.(a)

     398,000        673,829  

Kung Long Batteries Industrial Co., Ltd.(a)

     162,000        712,465  

Lealea Enterprise Co., Ltd.

     1,483,000        318,751  

Lien Hwa Industrial Holdings Corp.

     1,274,053        1,569,316  

Lite-On Semiconductor Corp.

     458,000        603,518  

Lite-On Technology Corp.(a)

     4,543,000      6,204,252  

Mega Financial Holding Co., Ltd.(a)

     11,174,302        10,512,339  

Merry Electronics Co., Ltd.(a)

     354,275        1,458,500  

Micro-Star International Co., Ltd.

     1,205,000        3,534,332  

Mirle Automation Corp.

     641,000        644,360  

MOSA Industrial Corp.

     266,000        237,488  

Namchow Holdings Co., Ltd.

     385,000        514,326  

Nan Ya Plastics Corp.(a)

     14,615,000        26,435,213  

Nantex Industry Co., Ltd.

     713,000        633,039  

Nanya Technology Corp.

     3,905,000        6,934,130  

Nichidenbo Corp.

     694,000        959,251  

Novatek Microelectronics Corp.(a)

     936,000        5,323,545  

Oriental Union Chemical Corp.(a)

     1,531,000        721,418  

Pan-International Industrial Corp.

     973,000        540,529  

Pegatron Corp.

     4,645,000        8,908,619  

Powertech Technology, Inc.

     1,499,000        4,257,861  

Quanta Computer, Inc.(a)

     6,364,990        12,670,416  

Ruentex Industries Ltd.*(a)

     1,080,600        2,479,825  

Sampo Corp.

     1,629,000        918,422  

Sanyang Motor Co., Ltd.

     1,229,000        786,375  

SDI Corp.(a)

     266,000        332,484  

Sinon Corp.

     1,681,000        1,056,131  

SinoPac Financial Holdings Co., Ltd.

     9,813,440        3,585,752  

Sunonwealth Electric Machine Industry Co., Ltd.

     330,000        342,642  

Supreme Electronics Co., Ltd.

     1,476,000        1,478,855  

Swancor Holding Co., Ltd.(a)

     171,000        339,834  

Syncmold Enterprise Corp.

     404,000        865,671  

Synnex Technology International Corp.

     2,597,000        3,190,270  

Systex Corp.(a)

     411,000        1,000,268  

TA Chen Stainless Pipe(a)

     2,555,000        2,272,688  

TA-I Technology Co., Ltd.*(a)

     265,000        452,160  

Taiflex Scientific Co., Ltd.(a)

     874,000        1,210,939  

Taiwan Cement Corp.(a)

     13,058,000        17,055,735  

Taiwan Cogeneration Corp.

     881,000        856,485  

Taiwan Hon Chuan Enterprise Co., Ltd.

     751,000        1,228,013  

Taiwan Mobile Co., Ltd.

     3,043,253        10,053,105  

Taiwan PCB Techvest Co., Ltd.

     621,000        592,426  

Taiwan Styrene Monomer(a)

     2,062,000        934,127  

Test Research, Inc.

     455,000        686,077  

Tong Hsing Electronic Industries Ltd.(a)

     275,000        986,641  

Topco Scientific Co., Ltd.

     298,435        894,076  

Transcend Information, Inc.

     496,000        1,090,687  

Tripod Technology Corp.

     828,000        2,601,061  

Tung Ho Steel Enterprise Corp.

     1,949,000        1,392,074  

TXC Corp.

     541,000        787,130  

U-Ming Marine Transport Corp.

     1,049,000        901,873  

United Microelectronics Corp.(a)

     16,365,000        7,386,613  

Walsin Lihwa Corp.(a)

     7,475,000        2,718,946  

Walsin Technology Corp.(a)

     1,033,000        5,499,496  

Weikeng Industrial Co., Ltd.

     1,068,273        459,222  

Winbond Electronics Corp.

     5,578,000        2,093,491  

Wistron Corp.

     5,467,561        4,429,517  

Wistron NeWeb Corp.(a)

     479,840        829,841  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2020

 

 

 

Investments    Shares      Value  

WPG Holdings Ltd.

     3,547,280      $ 4,164,094  

WT Microelectronics Co., Ltd.

     1,491,000        1,681,236  

Yageo Corp.(a)

     1,034,000        9,385,546  

YC INOX Co., Ltd.

     1,294,000        937,077  

YFY, Inc.

     2,829,000        1,080,467  

Yuanta Financial Holding Co., Ltd.

     10,946,000        5,628,368  

Yulon Nissan Motor Co., Ltd.

     140,000        1,069,391  
     

 

 

 
Total Taiwan               420,134,957  
Thailand – 1.6%      

Bangkok Land PCL NVDR(a)

     30,132,800        752,918  

Banpu PCL NVDR

     4,561,500        736,679  

Beauty Community PCL NVDR(a)

     7,339,900        286,282  

Delta Electronics Thailand PCL NVDR

     805,100        834,110  

Hana Microelectronics PCL NVDR

     1,564,300        1,096,333  

IRPC PCL NVDR(a)

     20,943,300        1,365,694  

Jasmine International PCL NVDR(a)

     6,545,100        977,253  

KCE Electronics PCL NVDR(a)

     1,378,100        575,302  

KGI Securities Thailand PCL NVDR

     8,101,800        903,560  

LPN Development PCL NVDR(a)

     3,844,700        384,265  

Major Cineplex Group PCL NVDR(a)

     1,416,500        582,700  

Noble Development PCL NVDR(a)

     619,000        224,456  

Origin Property PCL NVDR(a)

     2,301,200        248,229  

Pruksa Holding PCL NVDR

     2,052,200        578,437  

PTT Exploration & Production PCL NVDR

     1,900,500        3,909,004  

PTT Global Chemical PCL NVDR(a)

     3,152,134        2,929,537  

Sansiri PCL NVDR(a)

     25,538,900        459,144  

Siam Commercial Bank PCL (The) NVDR

     1,248,600        2,634,739  

Somboon Advance Technology PCL NVDR(a)

     1,431,900        344,694  

SPCG PCL NVDR(a)

     1,836,200        800,112  

Supalai PCL NVDR(a)

     1,631,300        740,653  

Thai Vegetable Oil PCL NVDR

     1,424,897        976,923  

Thanachart Capital PCL NVDR

     820,100        830,908  

TPI Polene Power PCL NVDR

     9,467,200        882,749  

TTW PCL NVDR

     3,396,577        1,314,437  
     

 

 

 
Total Thailand               25,369,118  
Turkey – 1.2%      

Aksa Akrilik Kimya Sanayii AS

     672,576        647,036  

Dogan Sirketler Grubu Holding AS

     2,527,324        586,746  

Enerjisa Enerji AS(b)

     657,545        676,477  

Eregli Demir ve Celik Fabrikalari T.A.S.

     6,052,666        6,897,390  

Ford Otomotiv Sanayi AS

     154,524      1,155,486  

Iskenderun Demir ve Celik AS

     797,721        760,167  

Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS Class D

     1,995,288        575,251  

Soda Sanayii AS

     856,601        662,898  

TAV Havalimanlari Holding AS

     552,195        1,387,557  

Tekfen Holding AS

     438,900        845,800  

Tofas Turk Otomobil Fabrikasi AS

     411,739        1,027,747  

Trakya Cam Sanayii AS

     787,851        343,103  

Turkcell Iletisim Hizmetleri AS

     1,758,786        3,287,924  
     

 

 

 
Total Turkey               18,853,582  

TOTAL COMMON STOCKS

(Cost: $2,103,269,811)

              1,632,306,459  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree Global High Dividend Fund(d) (Cost: $1,182,658)      25,629        874,659  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.9%

 

United States – 0.9%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(e)

     
(Cost: $15,638,623)      15,638,623        15,638,623  

TOTAL INVESTMENTS IN SECURITIES – 100.6%

(Cost: $2,120,091,092)

 

 

     1,648,819,741  

Other Assets less Liabilities – (0.6)%

 

     (9,884,977
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,638,934,764  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $105,201,828 and the total market value of the collateral held by the Fund was $117,302,015. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $101,663,392.

 

(b) 

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

 

(c) 

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

 

(d) 

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

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree Global High Dividend Fund

  $ 2,304,355     $ 8,641,713     $ 9,488,352     $ (225,123   $ (357,934   $ 874,659     $ 86,920  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Table of Contents

Schedule of Investments (concluded)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2020

 

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

JP Morgan Chase Bank N.A.

    4/2/2020       2,000,000       HKD       257,996       USD     $ 38     $  

Morgan Stanley & Co. International

    4/1/2020       10,346,900       HKD       1,334,445       USD       484        

State Street Bank and Trust

    4/1/2020       1,522,422       USD       46,000,000       TWD       1,334        
                                            $ 1,856     $  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree Emerging Markets Multifactor Fund (EMMF)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

Brazil – 4.1%

 

Banco do Brasil S.A.

     4,917      $ 26,440  

BB Seguridade Participacoes S.A.

     8,200        39,288  

Centrais Eletricas Brasileiras S.A.

     1,440        6,625  

Cia de Saneamento Basico do Estado de Sao Paulo

     920        6,937  

Cia Energetica de Minas Gerais (Preference Shares)

     6,141        10,550  

Cosan S.A.

     800        8,292  

Hapvida Participacoes e Investimentos S.A.(a)

     1,300        10,627  

JBS S.A.

     1,490        5,843  

Lojas Americanas S.A. (Preference Shares)

     2,200        7,635  

Multiplan Empreendimentos Imobiliarios S.A.

     2,600        9,565  

Petrobras Distribuidora S.A.

     6,621        19,799  

Porto Seguro S.A.

     4,340        37,588  

Raia Drogasil S.A.

     500        9,819  

Sul America S.A.

     4,498        29,313  

Telefonica Brasil S.A. (Preference Shares)

     3,284        31,310  

TIM Participacoes S.A.

     12,149        29,139  
     

 

 

 
Total Brazil               288,770  
China – 36.7%      

A-Living Services Co., Ltd. Class H(a)

     4,500        21,888  

Alibaba Group Holding Ltd. ADR*

     1,326        257,880  

Anhui Conch Cement Co., Ltd. Class H

     5,000        34,738  

Bank of Hangzhou Co., Ltd. Class A

     20,200        21,928  

Bank of Nanjing Co., Ltd. Class A

     21,000        21,465  

Beijing Enterprises Holdings Ltd.

     11,500        42,211  

Changchun High & New Technology Industry Group, Inc. Class A

     300        23,177  

China Coal Energy Co., Ltd. Class H

     99,000        27,461  

China Construction Bank Corp. Class H

     90,000        73,617  

China Everbright Bank Co., Ltd. Class H

     124,000        47,514  

China Lesso Group Holdings Ltd.

     21,000        27,690  

China Medical System Holdings Ltd.

     18,000        19,484  

China Minsheng Banking Corp., Ltd. Class H

     107,500        79,887  

China National Building Material Co., Ltd. Class H

     28,000        30,598  

China Resources Cement Holdings Ltd.

     34,000        40,576  

China Resources Double Crane Pharmaceutical Co., Ltd. Class A

     11,400        20,363  

China Resources Gas Group Ltd.

     8,000        40,253  

China Resources Land Ltd.

     8,000        33,028  

China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. Class A

     4,000        15,705  

China Shenhua Energy Co., Ltd. Class H

     22,500        42,847  

China Telecom Corp., Ltd. Class H

     157,200        47,662  

China Traditional Chinese Medicine Holdings Co., Ltd.

     54,000        24,593  

China Unicom Hong Kong Ltd.

     66,300        38,236  

China Vanke Co., Ltd. Class H

     9,500        31,316  

Chongqing Rural Commercial Bank Co., Ltd. Class H

     103,000        42,258  

Country Garden Services Holdings Co., Ltd.

     6,000        24,384  

Dali Foods Group Co., Ltd.(a)

     56,500        39,363  

Daqin Railway Co., Ltd. Class A

     21,400        20,516  

ENN Energy Holdings Ltd.

     3,200        30,985  

Gigadevice Semiconductor Beijing, Inc. Class A

     800        27,295  

Guangdong Investment Ltd.

     20,000        38,550  

Guangzhou Kingmed Diagnostics Group Co., Ltd. Class A

     1,700      13,491  

Huadian Power International Corp., Ltd. Class H

     92,000        27,419  

Huaxin Cement Co., Ltd. Class A

     2,300        7,546  

Hubei Kaile Science & Technology Co., Ltd. Class A

     12,600        23,590  

Jiangsu Expressway Co., Ltd. Class H

     30,000        33,480  

Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. Class A

     2,000        10,230  

Jointown Pharmaceutical Group Co., Ltd. Class A

     8,800        21,091  

Kunlun Energy Co., Ltd.

     66,000        38,574  

KWG Group Holdings Ltd.*

     23,000        32,701  

Li Ning Co., Ltd.

     12,600        36,820  

Logan Property Holdings Co., Ltd.

     18,000        27,775  

Maanshan Iron & Steel Co., Ltd. Class H

     70,000        21,946  

Metallurgical Corp. of China Ltd. Class H

     127,000        22,284  

NetEase, Inc. ADR

     139        44,613  

People’s Insurance Co. Group of China Ltd. (The) Class H

     203,000        67,048  

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

     6,500        63,860  

Postal Savings Bank of China Co., Ltd. Class H(a)

     121,000        73,684  

SDIC Power Holdings Co., Ltd. Class A

     19,100        21,381  

Shandong Buchang Pharmaceuticals Co., Ltd. Class A

     5,300        15,041  

Shandong Weigao Group Medical Polymer Co., Ltd. Class H

     24,000        30,345  

Shanghai Pharmaceuticals Holding Co., Ltd. Class H

     24,200        41,151  

Shanghai Pudong Development Bank Co., Ltd. Class A

     35,200        50,370  

Shenzhen Expressway Co., Ltd. Class H

     32,000        32,616  

Shimao Property Holdings Ltd.

     7,500        26,416  

Sino Biopharmaceutical Ltd.

     16,000        21,097  

Sinotruk Hong Kong Ltd.

     9,500        15,811  

Tencent Holdings Ltd.

     3,400        166,778  

Tingyi Cayman Islands Holding Corp.

     20,000        32,719  

Uni-President China Holdings Ltd.

     34,000        32,987  

Vipshop Holdings Ltd. ADR*

     1,425        22,202  

Want Want China Holdings Ltd.

     49,000        35,529  

Weichai Power Co., Ltd. Class H

     11,000        17,711  

Wuhan Guide Infrared Co., Ltd. Class A

     3,500        16,654  

Xiamen C & D, Inc. Class A

     11,800        12,726  

Yanzhou Coal Mining Co., Ltd. Class H

     34,000        26,670  

Yuexiu Property Co., Ltd.

     178,700        32,278  

Zhongsheng Group Holdings Ltd.

     12,500        43,705  

Zoomlion Heavy Industry Science and Technology Co., Ltd. Class H

     26,600        19,356  

ZTE Corp. Class H*

     12,800        39,717  
     

 

 

 
Total China               2,606,880  
Czech Republic – 0.5%      

Moneta Money Bank AS(a)

     16,747        34,475  
Hungary – 0.3%

 

Richter Gedeon Nyrt

     1,146        21,527  
India – 12.7%

 

Asian Paints Ltd.

     953        20,993  

Bajaj Auto Ltd.

     895        23,926  

Bajaj Finance Ltd.

     761        22,289  

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

March 31, 2020

 

 

 

Investments    Shares      Value  

Berger Paints India Ltd.

     2,791      $ 18,371  

Britannia Industries Ltd.

     521        18,518  

Cipla Ltd.

     3,949        22,073  

Coal India Ltd.

     7,913        14,649  

Colgate-Palmolive India Ltd.

     1,185        19,622  

Dabur India Ltd.

     3,236        19,251  

Divi’s Laboratories Ltd.

     754        19,824  

Dr. Reddy’s Laboratories Ltd.

     601        24,792  

GAIL India Ltd.

     12,431        12,579  

Godrej Consumer Products Ltd.

     1,997        13,749  

HCL Technologies Ltd.

     8,012        46,218  

HDFC Asset Management Co., Ltd.(a)

     1,056        29,492  

HDFC Life Insurance Co., Ltd.(a)

     6,884        40,161  

Hindustan Unilever Ltd.

     787        23,911  

ICICI Lombard General Insurance Co., Ltd.(a)

     2,839        40,592  

ICICI Prudential Life Insurance Co., Ltd.(a)

     8,401        39,500  

Info Edge India Ltd.

     673        18,104  

Infosys Ltd.

     2,273        19,274  

Infosys Ltd. ADR

     3,552        29,162  

Mahindra & Mahindra Financial Services Ltd.

     8,232        16,018  

Marico Ltd.

     6,615        24,033  

Nestle India Ltd.

     104        22,409  

Oil & Natural Gas Corp., Ltd.

     12,339        11,140  

Page Industries Ltd.

     42        9,418  

Petronet LNG Ltd.

     7,676        20,263  

Power Grid Corp. of India Ltd.

     10,862        22,844  

SBI Life Insurance Co., Ltd.(a)

     4,281        36,273  

Shriram Transport Finance Co., Ltd.

     2,665        23,273  

Tata Consultancy Services Ltd.

     2,204        53,201  

Tech Mahindra Ltd.

     6,024        45,030  

Titan Co., Ltd.

     1,226        15,132  

United Spirits Ltd.*

     1,597        10,230  

Wipro Ltd.

     13,466        35,013  

Wipro Ltd. ADR

     6,676        20,696  
     

 

 

 
Total India               902,023  
Indonesia – 1.9%      

Adaro Energy Tbk PT

     135,400        8,219  

Bank Negara Indonesia Persero Tbk PT

     126,400        29,604  

Gudang Garam Tbk PT

     2,500        6,300  

Hanjaya Mandala Sampoerna Tbk PT

     63,300        5,530  

Indofood CBP Sukses Makmur Tbk PT

     30,800        19,309  

Indofood Sukses Makmur Tbk PT

     36,500        14,211  

Kalbe Farma Tbk PT

     234,600        17,261  

Perusahaan Gas Negara Tbk PT

     129,500        6,153  

Telekomunikasi Indonesia Persero Tbk PT

     148,300        28,732  
     

 

 

 
Total Indonesia               135,319  
Malaysia – 5.2%      

Fraser & Neave Holdings Bhd

     3,000        21,542  

Genting Malaysia Bhd

     51,200        23,822  

Hartalega Holdings Bhd

     20,800        33,126  

Hong Leong Financial Group Bhd

     4,200        13,300  

IHH Healthcare Bhd

     23,900        28,547  

Malaysia Airports Holdings Bhd

     11,300        11,300  

MISC Bhd

     11,400        19,633  

Nestle Malaysia Bhd

     700      22,151  

Petronas Dagangan Bhd

     4,900        24,001  

Petronas Gas Bhd

     7,200        25,667  

QL Resources Bhd

     13,100        22,440  

RHB Bank Bhd

     42,200        45,814  

Sime Darby Bhd

     42,600        16,665  

Telekom Malaysia Bhd

     26,600        23,090  

Top Glove Corp. Bhd

     16,100        24,038  

Westports Holdings Bhd

     21,900        17,135  
     

 

 

 
Total Malaysia               372,271  
Mexico – 3.9%      

America Movil S.A.B. de C.V. Series L

     78,637        47,097  

Arca Continental S.A.B. de C.V.

     9,528        38,832  

Coca-Cola Femsa S.A.B. de C.V.

     9,380        38,245  

El Puerto de Liverpool S.A.B. de C.V. Class C1

     9,426        20,801  

Gruma S.A.B. de C.V. Class B

     5,090        39,417  

Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B

     2,594        24,698  

Kimberly-Clark de Mexico S.A.B. de C.V. Class A

     23,457        35,917  

Wal-Mart de Mexico S.A.B. de C.V.

     14,772        35,105  
     

 

 

 
Total Mexico               280,112  
Philippines – 2.4%      

Ayala Corp.

     1,260        11,579  

Bank of the Philippine Islands

     34,420        41,824  

Globe Telecom, Inc.

     800        30,358  

Megaworld Corp.

     183,900        9,039  

Metropolitan Bank & Trust Co.

     52,387        41,201  

PLDT, Inc.

     1,680        37,293  
     

 

 

 
Total Philippines               171,294  
Russia – 5.6%      

Gazprom PJSC ADR

     6,375        29,574  

Lukoil PJSC ADR

     676        40,560  

MMC Norilsk Nickel PJSC ADR

     1,280        31,898  

Mobile TeleSystems PJSC ADR

     7,102        53,975  

PhosAgro PJSC GDR(b)

     4,049        41,786  

Polyus PJSC GDR(b)

     670        45,694  

Rosneft Oil Co. PJSC GDR(b)

     8,858        36,043  

Sberbank of Russia PJSC ADR

     6,401        61,001  

VTB Bank PJSC GDR(b)

     24,286        20,036  

X5 Retail Group N.V. GDR(b)

     1,267        34,209  
     

 

 

 
Total Russia               394,776  
Singapore – 0.5%      

BOC Aviation Ltd.(a)

     5,000        31,996  
South Africa – 0.2%

 

Gold Fields Ltd.

     1,204        6,221  

Impala Platinum Holdings Ltd.

     1,006        4,266  

Sibanye Stillwater Ltd.*

     3,799        4,801  
     

 

 

 
Total South Africa               15,288  
South Korea – 6.2%      

BGF Retail Co., Ltd.

     328        35,566  

Coway Co., Ltd.

     814        38,649  

Fila Holdings Corp.

     1,571        37,489  

GS Retail Co., Ltd.

     1,182        30,003  

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

March 31, 2020

 

 

 

Investments    Shares      Value  

Hyundai Glovis Co., Ltd.

     491      $ 36,542  

Kia Motors Corp.

     2,171        46,368  

KT&G Corp.

     856        52,527  

LG Uplus Corp.

     4,900        43,471  

S-1 Corp.

     706        46,396  

Samsung Electronics Co., Ltd.

     1,862        73,036  
     

 

 

 
Total South Korea               440,047  
Taiwan – 17.3%      

Accton Technology Corp.

     7,000        37,730  

Advantech Co., Ltd.

     6,000        49,502  

Asia Cement Corp.

     18,000        23,451  

Chailease Holding Co., Ltd.

     12,870        38,940  

Chicony Electronics Co., Ltd.

     21,000        52,636  

CTBC Financial Holding Co., Ltd.

     75,000        44,393  

Delta Electronics, Inc.

     12,000        47,815  

Eclat Textile Co., Ltd.

     2,000        15,905  

Eva Airways Corp.

     51,713        15,202  

Feng TAY Enterprise Co., Ltd.

     4,200        18,055  

Globalwafers Co., Ltd.

     3,000        33,828  

Inventec Corp.

     74,000        57,014  

Lite-On Technology Corp.

     38,000        51,896  

Micro-Star International Co., Ltd.

     18,000        52,795  

Pegatron Corp.

     25,000        47,947  

Pou Chen Corp.

     29,000        24,597  

Powertech Technology, Inc.

     17,000        48,288  

Realtek Semiconductor Corp.

     5,000        36,126  

Shin Kong Financial Holding Co., Ltd.*

     183,000        46,171  

Standard Foods Corp.

     12,000        24,205  

Synnex Technology International Corp.

     49,000        60,194  

Taiwan Cement Corp.

     15,557        20,320  

Taiwan Mobile Co., Ltd.

     12,000      39,641  

Taiwan Semiconductor Manufacturing Co., Ltd.

     13,000        117,785  

Uni-President Enterprises Corp.

     10,000        21,692  

United Microelectronics Corp.

     105,000        47,393  

Walsin Technology Corp.

     5,000        26,619  

Wistron Corp.

     67,000        54,280  

Wiwynn Corp.

     2,000        46,426  

Zhen Ding Technology Holding Ltd.

     10,000        30,752  
     

 

 

 
Total Taiwan               1,231,598  
Turkey – 2.3%      

BIM Birlesik Magazalar AS

     3,061        23,293  

Eregli Demir ve Celik Fabrikalari T.A.S.

     14,381        16,388  

KOC Holding AS

     5,746        11,710  

TAV Havalimanlari Holding AS

     4,332        10,886  

Turkcell Iletisim Hizmetleri AS

     17,068        31,907  

Turkiye Garanti Bankasi AS*

     27,603        34,052  

Turkiye Is Bankasi AS Group C*

     45,747        32,764  
     

 

 

 
Total Turkey               161,000  

TOTAL INVESTMENTS IN SECURITIES – 99.8%

(Cost: $8,285,682)

 

 

     7,087,376  

Other Assets less Liabilities – 0.2%

 

     14,176  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 7,101,552  
* 

Non-income producing security.

 

(a) 

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

 

(b) 

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

 

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

Bank of America N.A.

    4/7/2020       96,941       RUB       1,225       USD     $ 14     $  

Bank of America N.A.

    4/8/2020       5,643       BRL       1,111       USD             (24

Bank of America N.A.

    4/8/2020       27,950       MXN       1,110       USD       80        

Citibank N.A.

    4/8/2020       290,645       USD       1,464,534       BRL       8,403        

Citibank N.A.

    4/8/2020       18,211       USD       5,948,989       HUF       112        

Goldman Sachs

    4/8/2020       31,219       USD       790,764       CZK             (451

Goldman Sachs

    4/8/2020       288,778       USD       6,946,670       MXN             (7,070

Goldman Sachs

    4/8/2020       13,658       USD       235,003       ZAR       512        

HSBC Holdings PLC

    4/8/2020       123,673       USD       2,038,995,587       IDR             (1,276

HSBC Holdings PLC

    4/8/2020       395,985       USD       496,612,234       KRW             (12,032

HSBC Holdings PLC

    4/9/2020       2,336,703       USD       16,578,910       CNY             (1,302

HSBC Holdings PLC

    4/9/2020       846,184       USD       63,753,200       INR       3,993        

Morgan Stanley & Co. International

    4/8/2020       1,940,684       KRW       1,569       USD       25        

Morgan Stanley & Co. International

    4/8/2020       5,879       MYR       1,337       USD       24        

Morgan Stanley & Co. International

    4/8/2020       334,496       USD       1,503,893       MYR             (13,524

Morgan Stanley & Co. International

    4/9/2020       64,566       CNY       9,146       USD             (40

Morgan Stanley & Co. International

    4/9/2020       252,850       INR       3,298       USD       42        

UBS AG

    4/7/2020       323,214       USD       25,200,566       RUB       928        

UBS AG

    4/8/2020       161,950       USD       1,055,599       TRY       2,054        
                                            $ 16,187     $ (35,719

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Table of Contents

Schedule of Investments

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.6%

 

Brazil – 5.4%

 

B3 S.A. – Brasil Bolsa Balcao

     40,386      $ 279,539  

BB Seguridade Participacoes S.A.

     36,398        174,390  

Centrais Eletricas Brasileiras S.A.

     29,710        136,675  

Cia Brasileira de Distribuicao

     15,690        200,685  

Cia de Saneamento Basico do Estado de Sao Paulo

     24,440        184,292  

Cia Siderurgica Nacional S.A.

     96,718        130,161  

Equatorial Energia S.A.

     58,520        198,579  

Gerdau S.A. (Preference Shares)

     93,118        180,433  

Hypera S.A.

     30,610        168,731  

Itau Unibanco Holding S.A. (Preference Shares)

     80,092        356,558  

Itausa – Investimentos Itau S.A. (Preference Shares)

     138,780        234,663  

Klabin S.A.

     74,084        228,397  

Lojas Renner S.A.

     27,985        181,078  

M. Dias Branco S.A.

     28,978        162,584  

Magazine Luiza S.A.

     26,046        195,800  

Porto Seguro S.A.

     20,033        173,501  

Sul America S.A.

     20,066        130,766  

Telefonica Brasil S.A. (Preference Shares)

     20,834        198,635  

TIM Participacoes S.A.

     117,428        281,650  
     

 

 

 
Total Brazil               3,797,117  
Chile – 1.3%      

Cia Cervecerias Unidas S.A.

     24,314        167,455  

Embotelladora Andina S.A. Class B, (Preference Shares)

     66,932        149,048  

Empresas CMPC S.A.

     114,259        245,189  

Empresas COPEC S.A.

     24,775        142,435  

Enel Americas S.A.

     1,444,484        177,273  
     

 

 

 
Total Chile               881,400  
China – 37.0%      

Aier Eye Hospital Group Co., Ltd. Class A

     39,000        216,523  

Air China Ltd. Class H(a)

     244,000        157,401  

Angang Steel Co., Ltd. Class A

     311,700        118,210  

Angang Steel Co., Ltd. Class H(a)

     800,000        210,556  

Anhui Conch Cement Co., Ltd. Class A

     36,700        285,090  

Anhui Conch Cement Co., Ltd. Class H

     65,500        455,066  

ANTA Sports Products Ltd.

     33,000        242,469  

Bank of China Ltd. Class H

     1,326,000        508,098  

Beijing Capital International Airport Co., Ltd. Class H

     242,000        154,238  

Beijing Enterprises Water Group Ltd.*

     450,000        175,915  

Brilliance China Automotive Holdings Ltd.

     232,000        190,966  

CGN Power Co., Ltd. Class H(b)

     1,155,000        265,247  

China Aoyuan Group Ltd.

     197,000        230,781  

China Conch Venture Holdings Ltd.

     76,000        339,264  

China Everbright Bank Co., Ltd. Class H

     552,000        211,516  

China Evergrande Group(a)

     116,000        192,463  

China Gas Holdings Ltd.

     73,800        257,080  

China International Travel Service Corp., Ltd. Class A

     17,300        163,900  

China Jinmao Holdings Group Ltd.

     476,000        308,289  

China Medical System Holdings Ltd.

     210,000      227,316  

China Mengniu Dairy Co., Ltd.*

     88,000        305,977  

China Merchants Bank Co., Ltd. Class H

     84,500        381,569  

China Minsheng Banking Corp., Ltd. Class H(a)

     415,000        308,403  

China National Building Material Co., Ltd. Class H

     316,000        345,317  

China Resources Cement Holdings Ltd.

     328,000        391,438  

China Resources Gas Group Ltd.

     64,000        322,027  

China Resources Land Ltd.

     82,000        338,541  

China Unicom Hong Kong Ltd.

     278,000        160,325  

China Vanke Co., Ltd. Class H

     78,200        257,778  

China Zhongwang Holdings Ltd.(a)

     519,600        136,756  

Chongqing Zhifei Biological Products Co., Ltd. Class A

     24,400        231,819  

CIFI Holdings Group Co., Ltd.

     382,000        275,994  

CITIC Ltd.

     241,000        252,166  

CNOOC Ltd.

     350,000        367,119  

Country Garden Holdings Co., Ltd.(a)

     258,000        312,227  

CSPC Pharmaceutical Group Ltd.

     154,000        308,362  

ENN Energy Holdings Ltd.

     28,200        273,053  

Far East Horizon Ltd.

     353,000        284,644  

Fuyao Glass Industry Group Co., Ltd. Class H(b)

     88,000        188,241  

Geely Automobile Holdings Ltd.

     166,000        245,009  

Guangzhou Automobile Group Co., Ltd. Class H

     222,400        223,522  

Guangzhou R&F Properties Co., Ltd. Class H

     145,600        190,103  

Haier Electronics Group Co., Ltd.

     116,000        309,048  

Hundsun Technologies, Inc. Class A

     14,900        184,646  

Inner Mongolia Junzheng Energy & Chemical Industry Group Co., Ltd. Class A*

     330,600        114,657  

Jiangsu Hengrui Medicine Co., Ltd. Class A*

     26,500        343,826  

Jiangsu Yanghe Brewery Joint-Stock Co., Ltd. Class A

     14,100        166,721  

Kingboard Holdings Ltd.

     84,000        196,808  

Kunlun Energy Co., Ltd.

     294,000        171,828  

KWG Group Holdings Ltd.*

     275,500        391,698  

Lepu Medical Technology Beijing Co., Ltd. Class A

     40,200        205,276  

Logan Property Holdings Co., Ltd.

     224,000        345,642  

Longfor Group Holdings Ltd.(b)

     78,500        382,327  

Luxshare Precision Industry Co., Ltd. Class A

     51,200        275,450  

Luye Pharma Group Ltd.(b)

     290,500        141,673  

Luzhou Laojiao Co., Ltd. Class A

     15,000        155,750  

NetEase, Inc. ADR

     1,487        477,268  

New China Life Insurance Co., Ltd. Class H

     72,200        224,958  

Nexteer Automotive Group Ltd.

     260,000        130,488  

Ninestar Corp. Class A

     33,400        126,337  

Perfect World Co., Ltd. Class A

     35,800        239,992  

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

     76,500        751,587  

Sany Heavy Industry Co., Ltd. Class A

     100,200        244,387  

Seazen Group Ltd.

     296,000        267,324  

Shaanxi Coal Industry Co., Ltd. Class A

     140,500        148,164  

Shanxi Lu’an Environmental Energy Development Co., Ltd. Class A

     133,800        109,974  

Shanxi Xishan Coal & Electricity Power Co., Ltd. Class A

     165,596        113,228  

Shenzhen International Holdings Ltd.

     129,500        237,250  

Shenzhou International Group Holdings Ltd.

     24,600        261,523  

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Sino Biopharmaceutical Ltd.

     282,000      $ 371,833  

Sinotruk Hong Kong Ltd.

     220,500        366,983  

SSY Group Ltd.

     368,000        287,719  

Sunac China Holdings Ltd.

     81,000        375,169  

Sunny Optical Technology Group Co., Ltd.

     20,600        277,470  

Tencent Holdings Ltd.

     66,100        3,242,362  

Tingyi Cayman Islands Holding Corp.

     200,000        327,188  

TravelSky Technology Ltd. Class H

     107,000        188,850  

Uni-President China Holdings Ltd.

     277,000        268,748  

Weichai Power Co., Ltd. Class A

     98,000        165,242  

Weichai Power Co., Ltd. Class H

     204,000        328,468  

Wuhu Sanqi Interactive Entertainment Network Technology Group Co., Ltd. Class A

     69,000        317,709  

Wuxi Lead Intelligent Equipment Co., Ltd. Class A

     32,000        168,998  

Xiamen C & D, Inc. Class A

     112,600        121,441  

Yanzhou Coal Mining Co., Ltd. Class H

     304,000        238,465  

Yihai International Holding Ltd.*

     46,000        348,372  

Yunda Holding Co., Ltd. Class A

     29,900        129,875  

Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. Class A

     10,600        185,755  

Zhongsheng Group Holdings Ltd.

     87,700        306,631  

Zoomlion Heavy Industry Science and Technology Co., Ltd. Class A

     165,000        132,361  
     

 

 

 
Total China               25,878,247  
Hong Kong – 0.3%      

Kingboard Laminates Holdings Ltd.

     233,000        215,538  
Hungary – 0.3%

 

MOL Hungarian Oil & Gas PLC

     29,637        173,998  
India – 8.3%

 

Adani Ports & Special Economic Zone Ltd.

     42,044        139,663  

Ashok Leyland Ltd.

     283,022        161,056  

Britannia Industries Ltd.

     5,813        206,617  

Cipla Ltd.

     47,498        265,488  

Dabur India Ltd.

     54,188        322,365  

Dr. Reddy’s Laboratories Ltd.

     6,761        278,903  

GAIL India Ltd.

     144,596        146,314  

Godrej Consumer Products Ltd.

     35,815        246,582  

Hindustan Unilever Ltd.

     15,856        481,750  

Infosys Ltd.

     57,744        489,652  

ITC Ltd.

     97,208        220,626  

JSW Steel Ltd.

     91,566        177,017  

Mahindra & Mahindra Financial Services Ltd.

     52,433        102,023  

Marico Ltd.

     50,722        184,279  

Nestle India Ltd.

     1,750        377,073  

Page Industries Ltd.

     1,113        249,571  

Petronet LNG Ltd.

     92,974        245,428  

Pidilite Industries Ltd.

     11,952        214,295  

Power Grid Corp. of India Ltd.

     113,171        238,007  

Shree Cement Ltd.

     871        202,018  

Tata Consultancy Services Ltd.

     17,767        428,867  

Tech Mahindra Ltd.

     33,306        248,965  

Titan Co., Ltd.

     16,244        200,486  
     

 

 

 
Total India               5,827,045  
Indonesia – 5.1%      

Adaro Energy Tbk PT

     2,906,800      176,440  

Bank Central Asia Tbk PT

     208,200        352,638  

Bank Mandiri Persero Tbk PT

     727,900        208,864  

Bank Rakyat Indonesia Persero Tbk PT

     1,367,100        253,136  

Bukit Asam Tbk PT

     1,578,600        210,996  

Charoen Pokphand Indonesia Tbk PT

     819,400        248,181  

Gudang Garam Tbk PT

     76,900        193,782  

Hanjaya Mandala Sampoerna Tbk PT

     1,579,300        137,983  

Indah Kiat Pulp & Paper Corp. Tbk PT

     642,800        158,040  

Indofood CBP Sukses Makmur Tbk PT

     330,300        207,070  

Indofood Sukses Makmur Tbk PT

     419,900        163,480  

Kalbe Farma Tbk PT

     2,589,431        190,516  

Pabrik Kertas Tjiwi Kimia Tbk PT

     399,900        97,830  

Pakuwon Jati Tbk PT

     6,539,400        123,491  

Perusahaan Gas Negara Tbk PT

     1,585,600        75,343  

Surya Citra Media Tbk PT

     2,737,500        130,077  

Telekomunikasi Indonesia Persero Tbk PT

     1,251,400        242,454  

Unilever Indonesia Tbk PT

     478,400        212,655  

United Tractors Tbk PT

     189,600        196,459  
     

 

 

 
Total Indonesia               3,579,435  
Malaysia – 2.4%      

Dialog Group Bhd

     290,800        204,637  

Hartalega Holdings Bhd

     205,000        326,482  

Malayan Banking Bhd

     149,700        258,163  

Malaysia Airports Holdings Bhd

     117,700        117,700  

Nestle Malaysia Bhd

     7,400        234,162  

Petronas Chemicals Group Bhd

     161,900        189,258  

Press Metal Aluminium Holdings Bhd

     211,100        160,768  

QL Resources Bhd

     126,000        215,833  
     

 

 

 
Total Malaysia               1,707,003  
Mexico – 2.8%      

America Movil S.A.B. de C.V. Series L

     617,118        369,599  

Gruma S.A.B. de C.V. Class B

     22,910        177,416  

Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B

     24,164        131,217  

Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B

     17,648        168,030  

Grupo Bimbo S.A.B. de C.V. Series A

     144,438        212,292  

Grupo Financiero Banorte S.A.B. de C.V. Class O

     69,196        191,726  

Grupo Financiero Inbursa S.A.B. de C.V. Class O

     183,666        133,409  

Grupo Mexico S.A.B. de C.V. Series B

     146,110        272,423  

Megacable Holdings S.A.B. de C.V. Series CPO

     57,752        159,722  

Orbia Advance Corp. S.A.B. de C.V.

     143,282        159,350  
     

 

 

 
Total Mexico               1,975,184  
Philippines – 1.5%      

Globe Telecom, Inc.

     6,505        246,847  

International Container Terminal Services, Inc.

     133,540        196,135  

Jollibee Foods Corp.

     48,780        102,049  

Megaworld Corp.

     2,582,000        126,917  

Metropolitan Bank & Trust Co.

     205,697        161,775  

SM Prime Holdings, Inc.

     411,100        229,557  
     

 

 

 
Total Philippines               1,063,280  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2020

 

 

 

Investments    Shares      Value  
Poland – 0.3%      

LPP S.A.

     145      $ 182,581  
Russia – 3.7%

 

Lukoil PJSC ADR

     7,144        428,640  

Magnitogorsk Iron & Steel Works PJSC GDR(c)

     37,117        232,724  

MMC Norilsk Nickel PJSC ADR

     19,521        486,463  

Novatek PJSC GDR(c)

     2,197        253,314  

PhosAgro PJSC GDR(c)

     20,173        208,185  

Rosneft Oil Co. PJSC GDR(c)

     56,961        231,774  

Sberbank of Russia PJSC ADR

     46,243        440,696  

Tatneft PJSC ADR

     7,035        297,229  
     

 

 

 
Total Russia               2,579,025  
South Africa – 3.2%      

Absa Group Ltd.

     26,606        111,727  

Anglo American Platinum Ltd.(a)

     3,622        152,949  

Bid Corp., Ltd.

     13,248        157,760  

Capitec Bank Holdings Ltd.

     3,306        162,894  

Clicks Group Ltd.

     17,448        251,755  

Exxaro Resources Ltd.(a)

     28,188        156,233  

Foschini Group Ltd. (The)

     24,592        93,177  

Kumba Iron Ore Ltd.

     10,344        162,203  

Mr. Price Group Ltd.

     21,647        138,269  

Netcare Ltd.

     223,463        187,679  

Pick n Pay Stores Ltd.

     62,005        210,387  

PSG Group Ltd.

     16,367        118,345  

Rand Merchant Investment Holdings Ltd.

     107,085        132,147  

SPAR Group Ltd. (The)

     18,380        187,042  
     

 

 

 
Total South Africa               2,222,567  
South Korea – 10.1%      

BGF Retail Co., Ltd.

     1,441        156,251  

BNK Financial Group, Inc.

     41,424        150,914  

Cheil Worldwide, Inc.

     14,250        185,536  

CJ ENM Co., Ltd.

     1,738        148,623  

Coway Co., Ltd.

     3,730        177,101  

Daelim Industrial Co., Ltd.

     3,639        220,310  

GS Engineering & Construction Corp.

     12,074        203,324  

Hana Financial Group, Inc.

     10,658        202,242  

KB Financial Group, Inc.

     10,065        285,658  

Korea Gas Corp.

     8,124        143,480  

Kumho Petrochemical Co., Ltd.

     3,645        194,025  

LG Electronics, Inc.

     5,319        210,601  

LG Household & Health Care Ltd.

     316        290,730  

LG Household & Health Care Ltd. (Preference Shares)

     366        192,418  

Meritz Securities Co., Ltd.

     53,802        125,075  

NCSoft Corp.

     661        354,025  

S-1 Corp.

     2,689        176,712  

Samsung Electro-Mechanics Co., Ltd.

     3,265        262,037  

Samsung Electronics Co., Ltd.

     55,049        2,159,272  

Samsung SDS Co., Ltd.

     1,662        204,106  

Samsung Securities Co., Ltd.

     7,851        189,286  

Shinsegae, Inc.

     1,105        197,427  

SK Hynix, Inc.

     9,447        646,433  
     

 

 

 
Total South Korea               7,075,586  
Taiwan – 12.0%      

Advantech Co., Ltd.

     30,000      247,508  

Asia Cement Corp.

     176,000        229,301  

Chailease Holding Co., Ltd.

     70,100        212,098  

Chicony Electronics Co., Ltd.

     78,000        195,506  

E.Sun Financial Holding Co., Ltd.

     386,000        309,525  

Eclat Textile Co., Ltd.

     22,000        174,958  

Feng TAY Enterprise Co., Ltd.

     36,648        157,540  

Formosa Plastics Corp.

     132,000        327,801  

Hiwin Technologies Corp.

     30,000        198,899  

Largan Precision Co., Ltd.

     2,000        253,294  

Micro-Star International Co., Ltd.

     74,000        217,046  

Nanya Technology Corp.

     135,000        239,720  

Nien Made Enterprise Co., Ltd.

     32,000        190,996  

Novatek Microelectronics Corp.

     43,000        244,565  

Powertech Technology, Inc.

     85,000        241,440  

President Chain Store Corp.

     37,000        346,246  

Realtek Semiconductor Corp.

     35,000        252,881  

Standard Foods Corp.

     147,000        296,513  

Synnex Technology International Corp.

     207,000        254,288  

Taiwan Semiconductor Manufacturing Co., Ltd.

     263,291        2,385,521  

Uni-President Enterprises Corp.

     164,000        355,749  

Walsin Technology Corp.

     64,000        340,724  

Winbond Electronics Corp.

     494,000        185,404  

Yageo Corp.(a)

     36,000        326,769  

Zhen Ding Technology Holding Ltd.

     68,000        209,117  
     

 

 

 
Total Taiwan               8,393,409  
Thailand – 2.9%      

Airports of Thailand PCL NVDR

     148,600        229,800  

Bangkok Dusit Medical Services PCL NVDR

     371,200        213,779  

Berli Jucker PCL NVDR

     153,500        189,434  

Bumrungrad Hospital PCL NVDR

     54,300        188,625  

Central Retail Corp. PCL NVDR*

     158,383        135,133  

CP ALL PCL NVDR

     147,617        274,385  

Electricity Generating PCL NVDR

     21,400        150,633  

Energy Absolute PCL NVDR

     151,300        155,599  

Indorama Ventures PCL NVDR

     241,900        157,741  

Muangthai Capital PCL NVDR

     139,200        148,457  

PTT Exploration & Production PCL NVDR

     85,300        175,447  
     

 

 

 
Total Thailand               2,019,033  
Turkey – 3.0%      

Akbank T.A.S.*

     221,576        188,282  

Anadolu Efes Biracilik ve Malt Sanayii AS

     74,862        195,724  

Aselsan Elektronik Sanayi ve Ticaret AS

     81,051        290,247  

BIM Birlesik Magazalar AS

     35,279        268,464  

Eregli Demir ve Celik Fabrikalari T.A.S.

     259,030        295,181  

Ford Otomotiv Sanayi AS

     24,153        180,609  

KOC Holding AS

     82,468        168,058  

TAV Havalimanlari Holding AS

     67,994        170,855  

Turkiye Is Bankasi AS Group C*

     218,342        156,379  

Turkiye Sise ve Cam Fabrikalari AS

     299,372        188,066  
     

 

 

 
Total Turkey               2,101,865  

TOTAL COMMON STOCKS

(Cost: $81,599,992)

              69,672,313  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2020

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%

 

United States – 0.1%      

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(d)

     
(Cost: $42,799)      42,799      $ 42,799  

TOTAL INVESTMENTS IN SECURITIES – 99.7%

(Cost: $81,642,791)

 

 

     69,715,112  

Other Assets less Liabilities – 0.3%

 

     220,952  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 69,936,064  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $1,281,705 and the total market value of the collateral held by the Fund was $1,375,618. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,332,819.

 

(b) 

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

 

(c) 

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

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

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

Goldman Sachs

    4/1/2020       65,874       BRL       12,780       USD     $     $ (79

JP Morgan Chase Bank N.A.

    4/1/2020       204,000       MXN       8,652       USD       44        

Macquarie Bank

    4/1/2020       340,085       HKD       43,860       USD       17        

Merrill Lynch International

    4/1/2020       168,560       USD       5,508,526       THB       706        
                                            $ 767     $ (79

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Table of Contents

Schedule of Investments

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.1%

 

Brazil – 4.8%

 

AES Tiete Energia S.A.

     720,845      $ 1,823,446  

Alupar Investimento S.A.

     251,908        1,092,803  

Arezzo Industria e Comercio S.A.

     136,084        967,381  

Cia de Locacao das Americas

     389,122        787,007  

Cia de Saneamento de Minas Gerais-COPASA

     169,767        1,338,733  

Cia de Saneamento do Parana

     1,175,148        5,403,787  

Cia Hering

     359,667        1,031,860  

Construtora Tenda S.A.

     185,993        739,439  

CVC Brasil Operadora e Agencia de Viagens S.A.

     102,761        219,922  

Duratex S.A.

     1,733,337        3,124,725  

EcoRodovias Infraestrutura e Logistica S.A.*

     433,753        790,299  

Fleury S.A.

     683,612        2,667,703  

Grendene S.A.

     824,578        1,197,137  

Iguatemi Empresa de Shopping Centers S.A.

     123,869        746,328  

Instituto Hermes Pardini S.A.

     67,672        250,772  

Iochpe Maxion S.A.

     247,502        525,869  

JHSF Participacoes S.A.

     532,507        359,344  

Light S.A.

     149,816        278,742  

Linx S.A.

     77,159        247,696  

Mahle-Metal Leve S.A.

     348,062        1,177,073  

Movida Participacoes S.A.

     218,059        340,126  

MRV Engenharia e Participacoes S.A.

     550,968        1,300,245  

Odontoprev S.A.

     658,554        1,838,557  

Qualicorp Consultoria e Corretora de Seguros S.A.

     861,426        3,919,649  

Sao Martinho S.A.

     239,682        683,010  

Ser Educacional S.A.(a)

     135,732        395,948  

SLC Agricola S.A.

     438,164        1,917,696  

Smiles Fidelidade S.A.

     498,695        1,187,461  

Tegma Gestao Logistica S.A.

     161,818        645,512  

TOTVS S.A.

     97,033        873,308  

Transmissora Alianca de Energia Eletrica S.A.

     2,544,475        12,671,845  

Tupy S.A.

     513,874        1,299,893  

Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A.

     453,209        809,146  

Wiz Solucoes e Corretagem de Seguros S.A.

     511,647        889,804  

YDUQS Part*

     1,199,358        5,126,628  
     

 

 

 
Total Brazil

 

     58,668,894  
Chile — 1.1%

 

AES Gener S.A.

     19,661,994        2,399,154  

CAP S.A.

     240,209        1,034,596  

Engie Energia Chile S.A.

     2,402,740        2,661,191  

Grupo Security S.A.

     6,140,461        1,027,637  

Inversiones Aguas Metropolitanas S.A.

     2,635,815        2,016,322  

Inversiones La Construccion S.A.

     161,625        1,039,170  

Parque Arauco S.A.

     1,475,992        2,078,081  

Ripley Corp. S.A.

     2,599,389        593,335  

Salfacorp S.A.

     299,657        98,442  

Vina Concha y Toro S.A.

     743,418        942,007  
     

 

 

 
Total Chile

 

     13,889,935  
China – 23.4%

 

A-Living Services Co., Ltd. Class H(a)

     235,750      1,146,676  

Anhui Anke Biotechnology Group Co., Ltd. Class A

     294,225        572,430  

Anhui Expressway Co., Ltd. Class H

     1,435,666        707,562  

Apeloa Pharmaceutical Co., Ltd. Class A

     301,200        842,482  

Asia Cement China Holdings Corp.

     2,630,000        2,677,199  

Ausnutria Dairy Corp., Ltd.*

     893,000        1,417,113  

BAIC Motor Corp., Ltd. Class H(a)

     6,294,000        2,501,067  

Bank of Chongqing Co., Ltd. Class H

     270,000        135,507  

Beijing Aosaikang Pharmaceutical Co., Ltd. Class A

     80,100        174,246  

Beijing Capital International Airport Co., Ltd. Class H

     5,516,000        3,515,597  

Beijing Capital Land Ltd. Class H

     5,544,000        1,215,962  

Beijing North Star Co., Ltd. Class H

     4,040,000        938,214  

Beijing Orient Landscape & Environment Co., Ltd. Class A

     1,253,400        938,314  

Beijing SL Pharmaceutical Co., Ltd. Class A

     515,339        868,210  

Beijing Tong Ren Tang Chinese Medicine Co., Ltd.

     540,000        794,230  

Boya Bio-pharmaceutical Group Co., Ltd. Class A

     82,300        365,373  

C&D International Investment Group Ltd.(b)

     2,774,000        3,829,465  

CECEP COSTIN New Materials Group Ltd.*

     4,614,000        1  

Chacha Food Co., Ltd. Class A

     259,700        1,651,615  

China BlueChemical Ltd. Class H

     12,444,000        1,926,589  

China CAMC Engineering Co., Ltd. Class A

     898,878        1,045,487  

China Communications Services Corp., Ltd. Class H

     6,898,000        5,019,381  

China Everbright Greentech Ltd.(a)(b)

     2,208,000        931,525  

China Harmony New Energy Auto Holding Ltd.(b)

     3,930,000        1,698,577  

China Lilang Ltd.

     3,239,000        1,872,134  

China Longyuan Power Group Corp., Ltd. Class H

     7,778,000        4,274,895  

China Maple Leaf Educational Systems Ltd.(b)

     4,932,000        1,527,152  

China Meheco Co., Ltd. Class A

     913,900        1,937,807  

China Meidong Auto Holdings Ltd.

     1,268,000        1,982,758  

China New Higher Education Group Ltd.(a)(b)

     1,575,000        579,126  

China Oriental Group Co., Ltd.

     12,654,000        3,248,843  

China Overseas Grand Oceans Group Ltd.

     7,128,000        4,175,144  

China Power International Development Ltd.

     30,222,000        5,614,791  

China Reinsurance Group Corp. Class H

     10,412,000        1,208,995  

China Resources Double Crane Pharmaceutical Co., Ltd. Class A

     537,200        959,570  

China Resources Medical Holdings Co., Ltd.(b)

     2,327,000        1,248,928  

China Risun Group Ltd. Class H(b)

     6,191,000        1,757,241  

China SCE Group Holdings Ltd.

     12,401,000        5,519,804  

China South City Holdings Ltd.

     14,368,000        1,390,290  

China Suntien Green Energy Corp., Ltd. Class H

     11,017,000        1,918,867  

China Tian Lun Gas Holdings Ltd.(b)

     546,500        415,997  

China Travel International Investment Hong Kong Ltd.

     7,442,000        931,342  

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  

China Xinhua Education Group Ltd.(a)

     1,327,000      $ 361,244  

China Yongda Automobiles Services Holdings Ltd.

     4,544,500        3,711,399  

China Yuhua Education Corp., Ltd.(a)(b)

     2,924,000        2,165,395  

China ZhengTong Auto Services Holdings Ltd.(b)

     9,257,000        1,480,948  

China Zhongwang Holdings Ltd.(b)

     11,300,800        2,974,317  

Chongqing Rural Commercial Bank Co., Ltd. Class H

     11,095,000        4,552,000  

CIMC Enric Holdings Ltd.

     2,074,000        853,586  

CITIC Telecom International Holdings Ltd.

     9,609,000        3,186,098  

Colour Life Services Group Co., Ltd.*(b)

     1,353,000        558,593  

Consun Pharmaceutical Group Ltd.

     3,054,000        1,383,006  

CPMC Holdings Ltd.(b)

     1,911,000        616,380  

CT Environmental Group Ltd.*

     6,050,000        199,041  

DaFa Properties Group Ltd.

     782,000        484,279  

Deppon Logistics Co., Ltd. Class A

     236,100        345,507  

Dexin China Holdings Co., Ltd.*(b)

     2,750,000        1,099,872  

Dongyue Group Ltd.

     8,614,000        3,434,086  

E-House China Enterprise Holdings Ltd.(b)

     1,787,400        1,496,630  

Ecovacs Robotics Co., Ltd. Class A

     109,700        298,025  

ENN Ecological Holdings Co., Ltd. Class A

     540,200        658,771  

Fu Shou Yuan International Group Ltd.

     1,203,000        1,058,517  

Fufeng Group Ltd.*(b)

     5,114,000        1,761,651  

Genertec Universal Medical Group Co., Ltd.(a)

     4,920,000        3,065,915  

Greatview Aseptic Packaging Co., Ltd.

     3,614,000        1,119,044  

Greenland Hong Kong Holdings Ltd.

     5,105,000        1,962,727  

Greentown China Holdings Ltd.(b)

     4,386,500        3,989,837  

Greentown Service Group Co., Ltd.

     1,426,000        1,729,399  

Guangdong Baolihua New Energy Stock Co., Ltd. Class A

     1,716,000        1,258,011  

Guangdong Provincial Expressway Development Co., Ltd. Class A

     2,254,665        2,148,783  

Guangzhou R&F Properties Co., Ltd. Class H

     10,141,600        13,241,429  

Guizhou Bailing Group Pharmaceutical Co., Ltd. Class A

     300,100        352,855  

Guorui Properties Ltd.

     2,326,000        393,123  

Hebei Construction Group Corp. Ltd. Class H(b)

     1,334,500        804,050  

Hisense Home Appliances Group Co., Ltd. Class H(b)

     1,566,000        1,444,594  

Hope Education Group Co., Ltd.(a)

     3,248,000        745,906  

Hopson Development Holdings Ltd.

     2,846,000        2,540,907  

Huadian Fuxin Energy Corp., Ltd. Class H

     5,654,000        933,713  

Huafa Industrial Co., Ltd. Zhuhai Class A

     1,908,700        1,730,265  

Hubei Kaile Science & Technology Co., Ltd. Class A

     312,000        584,140  

Jiangsu Yangnong Chemical Co., Ltd. Class A

     161,673        1,536,476  

Jingrui Holdings Ltd.

     5,380,000        1,485,402  

JiuGui Liquor Co., Ltd. Class A

     39,300        157,630  

Jizhong Energy Resources Co., Ltd. Class A

     3,149,190        1,340,818  

Kaisa Group Holdings Ltd.

     7,199,000        2,665,643  

Liuzhou Iron & Steel Co., Ltd. Class A

     2,607,300        1,804,830  

Lonking Holdings Ltd.

     15,763,000        4,718,182  

Luxi Chemical Group Co., Ltd. Class A

     2,368,500        2,724,755  

LVGEM China Real Estate Investment Co., Ltd.

     2,760,000      843,928  

MLS Co., Ltd. Class A

     418,000        668,272  

Nanjing Iron & Steel Co., Ltd. Class A

     12,500,537        5,533,784  

Ningbo Tuopu Group Co., Ltd. Class A

     516,345        1,183,653  

Poly Property Group Co., Ltd.

     9,193,000        3,119,327  

Qinhuangdao Port Co., Ltd. Class A

     1,969,000        738,399  

Rainbow Department Store Co., Ltd. Class A

     757,300        949,147  

Redsun Properties Group Ltd.

     4,348,000        1,419,247  

Ronshine China Holdings Ltd.(b)

     2,250,500        2,200,879  

S-Enjoy Service Group Co., Ltd.*

     299,000        603,331  

Sany Heavy Equipment International Holdings Co., Ltd.

     2,570,000        1,376,034  

Shandong Chenming Paper Holdings Ltd. Class H

     1,090,500        391,127  

Shandong Himile Mechanical Science & Technology Co., Ltd. Class A

     464,200        1,106,656  

Shandong Publishing & Media Co., Ltd. Class A

     1,190,600        1,086,011  

Shandong Yisheng Livestock & Poultry Breeding Co., Ltd. Class A

     393,230        1,053,884  

Shanghai AJ Group Co., Ltd. Class A

     788,130        883,342  

Shanghai Huayi Group Co., Ltd. Class A

     1,073,100        809,390  

Shanghai Industrial Urban Development Group Ltd.

     9,346,000        892,289  

Shanghai Jin Jiang Capital Co., Ltd. Class H

     11,197,587        1,878,087  

Shanghai Mechanical and Electrical Industry Co., Ltd. Class A

     508,098        972,772  

Shanghai Shimao Co., Ltd. Class A

     3,873,003        2,227,778  

Shenzhen Jinjia Group Co., Ltd. Class A

     1,308,885        1,699,515  

Shenzhen Suntak Circuit Technology Co., Ltd. Class A

     284,600        663,241  

Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. Class A

     3,136,567        1,574,231  

Shougang Fushan Resources Group Ltd.

     11,766,000        2,140,404  

Shui On Land Ltd.

     18,023,500        3,022,946  

Sinochem International Corp. Class A

     2,276,880        1,643,516  

Sinopec Engineering Group Co., Ltd. Class H

     6,879,400        2,893,450  

Sinopec Kantons Holdings Ltd.(b)

     5,970,000        2,279,890  

SITC International Holdings Co., Ltd.

     6,473,000        6,054,684  

Skyfame Realty Holdings Ltd.

     6,618,000        870,913  

SOHO China Ltd.

     2,700,000        1,393,387  

Suofeiya Home Collection Co., Ltd. Class A

     799,971        2,027,813  

Tahoe Group Co., Ltd. Class A

     988,500        720,495  

Taiji Computer Corp., Ltd. Class A

     112,800        583,314  

TangShan Port Group Co., Ltd. Class A

     5,227,100        1,665,456  

TCL Electronics Holdings Ltd.

     3,755,000        1,574,495  

Tiangong International Co., Ltd.

     2,510,000        874,350  

Tianli Education International Holdings Ltd.

     1,120,000        489,853  

Tianneng Power International Ltd.(b)

     4,890,000        3,640,261  

Titan Wind Energy Suzhou Co., Ltd. Class A

     445,545        317,838  

Tong Ren Tang Technologies Co., Ltd. Class H

     1,829,888        1,459,019  

TravelSky Technology Ltd. Class H

     1,241,000        2,190,311  

Tsaker Chemical Group Ltd.(a)

     1,062,000        191,823  

Virscend Education Co., Ltd.(a)(b)

     5,383,000        1,104,255  

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Wanxiang Qianchao Co., Ltd. Class A

     2,767,740      $ 1,990,029  

Wasu Media Holding Co., Ltd. Class A

     704,900        927,199  

Weifu High-Technology Group Co., Ltd. Class A

     1,939,098        5,194,183  

West China Cement Ltd.

     10,532,000        1,644,160  

Wisdom Education International Holdings Co., Ltd.

     1,560,000        519,269  

Wuxi Taiji Industry Co., Ltd. Class A

     778,400        1,085,333  

Xiabuxiabu Catering Management China Holdings Co., Ltd.*(a)(b)

     745,500        570,361  

Xiamen ITG Group Corp., Ltd. Class A

     1,935,100        1,748,740  

Xinjiang Zhongtai Chemical Co., Ltd. Class A

     2,079,600        1,436,613  

Xinxing Ductile Iron Pipes Co., Ltd. Class A

     6,952,200        3,371,667  

Xinyangfeng Agricultural Technology Co., Ltd. Class A

     807,500        923,267  

Xinyu Iron & Steel Co., Ltd. Class A

     3,217,400        1,846,135  

XTEP International Holdings Ltd.

     5,466,800        1,798,545  

Yadea Group Holdings Ltd.(a)

     3,074,000        864,586  

Yang Quan Coal Industry Group Co., Ltd. Class A

     3,176,066        2,059,735  

Yangtze Optical Fibre and Cable Joint Stock Ltd. Co. Class H(a)(b)

     1,134,500        2,057,964  

YiChang HEC ChangJiang Pharmaceutical Co., Ltd. Class H(a)

     319,400        1,508,217  

Yuexiu Transport Infrastructure Ltd.

     4,992,100        3,046,438  

Yuzhou Properties Co., Ltd.

     14,488,700        6,168,666  

Zhejiang Expressway Co., Ltd. Class H

     8,358,700        5,823,450  

Zhejiang Jiahua Energy Chemical Industry Co., Ltd. Class A

     994,700        1,236,872  

Zhejiang Runtu Co., Ltd. Class A

     1,248,500        1,689,755  

Zhejiang Wanfeng Auto Wheel Co., Ltd. Class A

     2,376,768        2,211,539  

Zhou Hei Ya International Holdings Co., Ltd.(a)(b)

     2,843,000        1,639,579  
     

 

 

 
Total China

 

     285,009,384  
Czech Republic – 0.5%

 

Moneta Money Bank AS(a)

     3,159,470        6,504,105  
Hong Kong – 1.4%

 

Ajisen China Holdings Ltd.

     4,081,000        984,591  

China Grand Pharmaceutical and Healthcare Holdings Ltd. Class A(b)

     2,720,000        1,614,264  

China High Speed Transmission Equipment Group Co., Ltd.(b)

     543,000        315,254  

China Water Affairs Group Ltd.(b)

     3,744,000        2,811,297  

Concord New Energy Group Ltd.

     32,340,000        1,230,863  

Crystal International Group Ltd.(a)

     1,670,000        514,947  

Guotai Junan International Holdings Ltd.(b)

     10,892,000        1,433,361  

Hua Han Health Industry Holdings Ltd.*(b)

     8,880,000        0  

Mobvista, Inc.(a)

     1,055,000        510,425  

NetDragon Websoft Holdings Ltd.

     383,000        924,035  

Stella International Holdings Ltd.

     3,545,000        3,727,535  

Vinda International Holdings Ltd.

     565,000        1,370,421  

Wasion Holdings Ltd.

     3,844,000        1,319,207  
     

 

 

 
Total Hong Kong

 

     16,756,200  
Hungary – 0.2%

 

Magyar Telekom Telecommunications PLC

     2,241,490      $ 2,492,170  
India – 4.3%

 

Aegis Logistics Ltd.

     161,061        296,888  

Apollo Hospitals Enterprise Ltd.

     46,015        692,829  

Apollo Tyres Ltd.

     548,970        576,173  

Avanti Feeds Ltd.

     53,789        209,216  

Bajaj Consumer Care, Ltd.*

     449,265        786,572  

Bajaj Electricals Ltd.

     67,612        239,923  

Balkrishna Industries Ltd.

     91,131        953,637  

Balrampur Chini Mills Ltd.

     230,163        316,564  

Birla Corp., Ltd.

     57,244        314,061  

Birlasoft Ltd.

     644,316        519,532  

Carborundum Universal Ltd.

     115,031        337,561  

Care Ratings Ltd.

     96,969        419,594  

Castrol India Ltd.

     1,072,193        1,409,489  

Century Textiles & Industries Ltd.

     93,922        367,612  

CESC Ltd.

     151,408        817,670  

Crompton Greaves Consumer Electricals Ltd.

     373,999        1,032,250  

Edelweiss Financial Services Ltd.

     915,880        464,894  

EID Parry India Ltd.

     187,642        344,893  

EIH Ltd.

     172,292        149,856  

Emami Ltd.

     215,383        483,856  

Endurance Technologies Ltd.(a)

     29,951        237,981  

Essel Propack Ltd.

     177,685        364,289  

Federal Bank Ltd.

     2,195,109        1,191,114  

Finolex Industries Ltd.

     81,821        424,781  

Firstsource Solutions Ltd.

     867,047        314,607  

GHCL Ltd.

     60,797        71,645  

Glenmark Pharmaceuticals Ltd.

     135,139        367,719  

Godfrey Phillips India Ltd.

     22,182        275,768  

Godrej Agrovet Ltd.(a)

     81,719        397,246  

Graphite India Ltd.

     578,802        973,580  

HEG Ltd.

     129,329        827,418  

HeidelbergCement India Ltd.

     218,781        410,226  

Hexaware Technologies Ltd.

     294,890        883,681  

Hindustan Copper Ltd.

     868,606        244,561  

ICICI Securities Ltd.(a)

     256,528        937,422  

Indiabulls Housing Finance Ltd.

     4,446,198        5,686,220  

Indiabulls Ventures Ltd.

     251,878        358,583  

Indian Energy Exchange Ltd.(a)

     246,752        417,335  

Jamna Auto Industries Ltd.

     902,049        283,786  

JB Chemicals & Pharmaceuticals Ltd.

     71,542        481,352  

Jindal Saw Ltd.

     157,740        95,497  

JK Paper Ltd.

     196,093        193,109  

Jubilant Life Sciences Ltd.

     67,934        223,779  

Jyothy Labs Ltd.

     292,569        356,569  

Karur Vysya Bank Ltd. (The)

     516,244        137,845  

Kaveri Seed Co., Ltd.

     55,137        249,187  

KRBL Ltd.

     119,954        213,741  

L&T Technology Services Ltd.(a)

     47,055        722,296  

Manappuram Finance Ltd.

     653,378        818,328  

Mindtree Ltd.

     173,495        1,900,501  

Motilal Oswal Financial Services Ltd.

     50,899        334,421  

 

See Notes to Financial Statements.

 

54   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Natco Pharma Ltd.

     85,359      $ 570,423  

National Aluminium Co., Ltd.

     5,909,320        2,273,078  

Navin Fluorine International Ltd.

     35,400        571,655  

NCC Ltd.

     1,474,412        365,430  

NIIT Ltd.

     563,115        611,861  

NIIT Technologies Ltd.

     43,008        652,500  

NLC India Ltd.

     1,545,603        896,905  

NOCIL Ltd.

     265,198        230,664  

Oberoi Realty Ltd.

     58,005        254,367  

Oil India Ltd.

     1,821,775        1,990,314  

Persistent Systems Ltd.

     85,350        621,584  

Phillips Carbon Black Ltd.

     218,071        180,738  

Phoenix Mills Ltd. (The)

     63,491        478,629  

PNB Housing Finance Ltd.(a)

     88,292        189,244  

Prestige Estates Projects Ltd.

     135,903        302,161  

PTC India Ltd.

     1,259,325        645,050  

Rashtriya Chemicals & Fertilizers Ltd.

     681,353        255,334  

Redington India Ltd.

     904,013        819,752  

SJVN Ltd.

     3,384,484        928,313  

Sobha Ltd.

     87,212        154,304  

Sonata Software Ltd.

     167,866        364,351  

Steel Authority of India Ltd.

     2,032,734        619,349  

Sterlite Technologies Ltd.

     274,349        231,370  

Strides Pharma Science Ltd.

     199,040        847,583  

Supreme Industries Ltd.

     53,410        612,599  

Tata Chemicals Ltd.

     169,683        501,415  

Tata Consumer Products Ltd.

     440,334        1,716,198  

Trident Ltd.

     6,673,435        374,906  

Varroc Engineering Ltd.(a)

     39,709        67,003  

Varun Beverages Ltd.

     50,238        351,594  

Yes Bank Ltd.(c)

     7,997,215        2,373,226  
     

 

 

 
Total India

 

     52,179,557  
Indonesia – 1.9%

 

Ace Hardware Indonesia Tbk PT

     11,837,500        943,516  

Adhi Karya Persero Tbk PT

     7,957,100        261,008  

AKR Corporindo Tbk PT

     5,445,345        659,384  

Aneka Tambang Tbk PT

     10,338,100        285,233  

Astra Agro Lestari Tbk PT

     975,166        322,863  

Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT

     26,354,100        1,187,631  

Bank Tabungan Negara Persero Tbk PT

     9,899,116        509,826  

Bukit Asam Tbk PT

     43,221,900        5,777,053  

Ciputra Development Tbk PT

     7,919,200        215,581  

Erajaya Swasembada Tbk PT

     4,289,800        245,920  

Indika Energy Tbk PT

     20,384,500        868,622  

Indo Tambangraya Megah Tbk PT

     3,772,000        1,873,280  

Japfa Comfeed Indonesia Tbk PT

     33,688,400        1,962,231  

Matahari Department Store Tbk PT

     16,372,000        1,340,075  

Media Nusantara Citra Tbk PT

     4,574,640        253,835  

Perusahaan Perkebunan London Sumatra Indonesia Tbk PT

     6,656,400        342,819  

PP Persero Tbk PT

     9,477,700        319,604  

Puradelta Lestari Tbk PT

     57,263,000        502,061  

Ramayana Lestari Sentosa Tbk PT

     13,302,300      380,066  

Selamat Sempurna Tbk PT

     10,772,800        762,881  

Surya Citra Media Tbk PT

     26,868,800        1,276,721  

Timah Tbk PT

     6,454,900        169,387  

Tower Bersama Infrastructure Tbk PT

     18,568,315        1,030,308  

Waskita Beton Precast Tbk PT

     83,442,900        670,204  

Waskita Karya Persero Tbk PT

     17,842,100        529,465  

Wijaya Karya Bangunan Gedung Tbk PT

     17,757,300        155,689  

Wijaya Karya Beton Tbk PT

     17,335,500        240,210  

Wijaya Karya Persero Tbk PT

     6,296,800        322,368  
     

 

 

 
Total Indonesia

 

     23,407,841  
Malaysia – 4.0%

 

AEON Credit Service M Bhd

     435,900        847,583  

AirAsia Group Bhd

     11,016,600        2,014,610  

Alliance Bank Malaysia Bhd

     7,274,047        3,199,234  

Astro Malaysia Holdings Bhd

     8,814,600        1,734,354  

Berjaya Sports Toto Bhd

     3,171,900        1,688,743  

Bermaz Auto Bhd

     6,773,780        1,771,845  

BIMB Holdings Bhd

     2,766,900        2,081,580  

British American Tobacco Malaysia Bhd

     1,110,300        2,647,243  

Bursa Malaysia Bhd

     2,337,850        2,732,903  

Cahya Mata Sarawak Bhd

     1,851,100        518,479  

Frontken Corp. Bhd

     1,329,900        557,204  

Gamuda Bhd

     7,906,186        5,179,284  

Globetronics Technology Bhd

     2,559,833        959,937  

Heineken Malaysia Bhd

     448,000        2,269,037  

IJM Corp. Bhd

     5,716,200        2,103,879  

Inari Amertron Bhd

     5,700,475        1,636,248  

IOI Properties Group Bhd

     3,705,400        819,134  

Kossan Rubber Industries Bhd

     1,098,300        1,304,231  

KPJ Healthcare Bhd

     7,356,200        1,583,626  

Malaysia Building Society Bhd

     11,024,100        1,429,050  

Malaysian Resources Corp. Bhd

     2,593,543        234,139  

MMC Corp. Bhd

     3,603,500        504,657  

My EG Services Bhd

     2,815,500        625,667  

Padini Holdings Bhd

     1,330,200        621,992  

Scientex Bhd

     939,400        1,639,601  

Serba Dinamik Holdings Bhd

     3,101,900        1,077,049  

Sunway Bhd

     7,400,440        2,655,251  

Syarikat Takaful Malaysia Keluarga Bhd

     813,200        611,782  

TIME dotCom Bhd

     890,500        1,896,435  

VS Industry Bhd

     3,562,225        622,565  

Yinson Holdings Bhd

     792,300        874,831  
     

 

 

 
Total Malaysia

 

     48,442,173  
Mexico – 2.3%

 

Banco del Bajio S.A.(a)

     3,498,034        3,053,795  

Bolsa Mexicana de Valores S.A.B. de C.V.(b)

     1,917,158        2,961,638  

Concentradora Fibra Danhos S.A. de C.V.

     4,791,000        3,970,163  

Corp. Inmobiliaria Vesta S.A.B. de C.V.

     1,710,569        2,000,103  

Gentera S.A.B. de C.V.

     3,628,479        1,401,324  

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.(b)

     1,054,720        3,604,416  

Grupo Herdez S.A.B. de C.V.(b)

     632,971        809,182  

 

See Notes to Financial Statements.

 

WisdomTree Trust      55  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Macquarie Mexico Real Estate Management S.A. de C.V.(a)

     4,353,916      $ 3,656,219  

Megacable Holdings S.A.B. de C.V. Series CPO

     668,791        1,849,640  

Nemak S.A.B. de C.V.(a)(b)

     4,004,030        679,307  

Prologis Property Mexico S.A. de C.V.

     1,913,468        2,915,970  

Regional S.A.B. de C.V.

     387,593        1,032,458  
     

 

 

 
Total Mexico

 

     27,934,215  
Philippines – 1.0%

 

Alliance Global Group, Inc.*

     4,321,400        593,067  

Altus San Nicolas Corp.*

     70,532        3,612  

Century Pacific Food, Inc.

     2,778,100        737,404  

DMCI Holdings, Inc.

     21,012,400        1,557,545  

Filinvest Land, Inc.

     41,766,000        747,288  

First Gen Corp.

     3,870,800        1,255,765  

Manila Water Co., Inc.

     4,310,645        806,869  

Pilipinas Shell Petroleum Corp.

     1,863,510        691,030  

Puregold Price Club, Inc.

     1,438,700        1,031,078  

Robinsons Land Corp.

     4,325,626        1,262,137  

Robinsons Retail Holdings, Inc.

     665,140        745,438  

Semirara Mining & Power Corp.

     6,115,600        1,322,682  

Vista Land & Lifescapes, Inc.

     12,063,400        967,728  
     

 

 

 
Total Philippines

 

     11,721,643  
Poland – 0.7%

 

Asseco Poland S.A.

     270,032        3,770,761  

Eurocash S.A.

     322,223        1,318,837  

Jastrzebska Spolka Weglowa S.A.(b)

     416,542        1,247,570  

Warsaw Stock Exchange

     239,139        1,986,348  
     

 

 

 
Total Poland

 

     8,323,516  
Singapore – 0.2%

 

IGG, Inc.(b)

     4,852,000        2,898,342  
South Africa – 7.5%

 

Adcock Ingram Holdings Ltd.

     351,897        858,463  

Advtech Ltd.

     577,014        241,984  

Aeci Ltd.

     582,747        2,398,203  

African Rainbow Minerals Ltd.(b)

     683,614        3,857,481  

Allied Electronics Corp. Ltd. Class A

     737,026        770,039  

Astral Foods Ltd.

     313,351        3,368,085  

Attacq Ltd.

     4,760,688        1,247,481  

AVI Ltd.

     1,491,489        5,877,435  

Barloworld Ltd.

     791,034        2,867,830  

Cashbuild Ltd.

     92,719        693,212  

City Lodge Hotels Ltd.

     214,896        282,758  

Coronation Fund Managers Ltd.

     2,035,509        3,590,063  

DataTec Ltd.

     576,882        900,853  

Dis-Chem Pharmacies Ltd.(a)(b)

     536,631        796,233  

Equites Property Fund Ltd.

     3,008,693        2,788,011  

Foschini Group Ltd. (The)

     959,051        3,633,762  

Hyprop Investments Ltd.

     2,746,552        2,921,864  

Imperial Logistics Ltd.(b)

     750,437        1,111,790  

Investec Ltd.(b)

     1,576,234        2,999,787  

JSE Ltd.(b)

     528,420        2,995,662  

KAP Industrial Holdings Ltd.

     12,549,904        1,054,023  

Liberty Holdings Ltd.(b)

     587,280      2,180,104  

Life Healthcare Group Holdings Ltd.

     4,808,359        4,969,894  

Metair Investments Ltd.

     752,208        589,637  

Momentum Metropolitan Holdings

     2,916,438        2,545,760  

Motus Holdings Ltd.

     1,110,903        1,691,857  

Netcare Ltd.

     7,675,410        6,446,313  

Oceana Group Ltd.

     579,243        1,783,783  

Pick n Pay Stores Ltd.

     1,301,663        4,416,617  

Resilient REIT Ltd.

     1,882,451        3,372,813  

Reunert Ltd.

     913,342        2,216,363  

Santam Ltd.(b)

     159,884        2,399,245  

SPAR Group Ltd. (The)

     645,872        6,572,634  

Telkom S.A. SOC Ltd.

     1,415,232        1,626,804  

Transaction Capital Ltd.

     1,107,667        759,738  

Truworths International Ltd.

     2,812,396        3,933,575  

Tsogo Sun Gaming Ltd.

     2,605,285        452,205  

Wilson Bayly Holmes-Ovcon Ltd.

     78,699        353,176  
     

 

 

 
Total South Africa

 

     91,565,537  
South Korea – 8.4%

 

Aekyung Industrial Co., Ltd.

     17,655        338,641  

Aekyung Petrochemical Co., Ltd.

     5,760        27,207  

Ahnlab, Inc.

     11,333        529,714  

Asia Paper Manufacturing Co., Ltd.

     17,295        383,591  

BNK Financial Group, Inc.

     1,199,431        4,369,718  

Bukwang Pharmaceutical Co., Ltd.(b)

     58,584        1,219,949  

Caregen Co., Ltd.(b)

     7,384        228,484  

Cheil Worldwide, Inc.

     208,698        2,717,266  

CJ Corp.

     29,431        1,559,370  

Com2uS Corp.

     14,938        1,035,665  

Daesang Corp.

     69,638        969,618  

Daishin Securities Co., Ltd.

     181,628        1,277,148  

DB HiTek Co., Ltd.

     60,911        1,083,274  

DGB Financial Group, Inc.

     774,990        2,922,088  

Dohwa Engineering Co., Ltd.

     37,378        219,536  

Dongsuh Cos., Inc.

     213,673        2,764,488  

Douzone Bizon Co., Ltd.

     14,745        981,102  

Echo Marketing, Inc.

     15,456        319,950  

F&F Co., Ltd.(b)

     6,588        501,129  

Grand Korea Leisure Co., Ltd.

     74,127        822,043  

GS Engineering & Construction Corp.

     213,953        3,602,938  

Hana Tour Service, Inc.(b)

     31,035        945,824  

Handok, Inc.

     27,104        479,805  

Hanil Hyundai Cement Co., Ltd.(b)

     8,183        154,606  

Hanmi Semiconductor Co., Ltd.

     125,805        709,969  

Hansol Chemical Co., Ltd.

     14,029        909,260  

Hansol Paper Co., Ltd.

     87,544        755,093  

Hanssem Co., Ltd.

     23,960        990,009  

Hanwha Corp.

     157,965        1,985,349  

Hanwha General Insurance Co., Ltd.*

     462,657        644,189  

Hanwha Life Insurance Co., Ltd.(b)

     1,399,773        1,598,295  

HDC Holdings Co., Ltd.

     65,251        397,182  

HDC Hyundai Development Co-Engineering & Construction

     46,754        597,219  

Huchems Fine Chemical Corp.

     109,813        1,330,547  

 

See Notes to Financial Statements.

 

56   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Huons Co., Ltd.

     15,168      $ 568,169  

Hyosung Corp.

     35,497        1,781,630  

Hyundai Construction Equipment Co., Ltd.*

     40,215        495,523  

Hyundai Department Store Co., Ltd.

     22,375        1,080,749  

Hyundai Elevator Co., Ltd.(b)

     17,825        836,085  

Hyundai Greenfood Co., Ltd.

     134,459        726,776  

Hyundai Marine & Fire Insurance Co., Ltd.

     244,269        4,544,866  

iMarketKorea, Inc.(b)

     72,534        539,231  

Innocean Worldwide, Inc.

     28,779        1,243,501  

IS Dongseo Co., Ltd.

     50,320        927,986  

JB Financial Group Co., Ltd.

     522,696        1,921,440  

Jejuair Co., Ltd.*

     17,270        239,043  

KEPCO Plant Service & Engineering Co., Ltd.

     98,261        2,344,833  

Kginicis Co., Ltd.

     31,043        479,409  

KIWOOM Securities Co., Ltd.

     26,796        1,540,822  

Koentec Co., Ltd.(b)

     81,767        544,733  

Koh Young Technology, Inc.

     5,988        381,705  

Kolon Industries, Inc.

     22,623        557,514  

Korea Autoglass Corp.

     61,348        629,934  

Korea Electric Terminal Co., Ltd.

     13,590        271,833  

Korea Petrochemical Ind Co., Ltd.(b)

     13,448        964,398  

Korea Real Estate Investment & Trust Co., Ltd.(b)

     1,062,005        1,435,083  

Korean Reinsurance Co.

     408,697        2,450,806  

Kumho Petrochemical Co., Ltd.

     32,886        1,750,534  

LEENO Industrial, Inc.

     20,147        1,239,586  

LF Corp.

     66,731        589,279  

LOTTE Fine Chemical Co., Ltd.

     64,737        1,651,196  

LOTTE Himart Co., Ltd.

     62,891        808,514  

LS Corp.

     74,582        1,770,583  

LS Industrial Systems Co., Ltd.

     37,085        1,050,998  

Mando Corp.

     45,601        775,406  

MegaStudyEdu Co., Ltd.

     20,091        616,420  

Meritz Financial Group, Inc.

     160,648        1,359,243  

Meritz Fire & Marine Insurance Co., Ltd.

     206,264        2,067,130  

Meritz Securities Co., Ltd.

     1,240,197        2,883,113  

Mirae Asset Life Insurance Co., Ltd.

     397,985        1,013,475  

Modetour Network, Inc.

     22,970        186,236  

Moorim P&P Co., Ltd.(b)

     185,210        444,254  

NICE Information Service Co., Ltd.(b)

     67,195        734,130  

Orion Holdings Corp.

     127,821        1,265,243  

Partron Co., Ltd.

     96,191        602,898  

POSCO International Corp.

     149,654        1,395,304  

Samick THK Co., Ltd.

     43,858        338,658  

Samjin Pharmaceutical Co., Ltd.

     39,918        732,877  

Seah Besteel Corp.

     95,370        587,567  

Seoul Semiconductor Co., Ltd.(b)

     61,144        595,192  

SFA Engineering Corp.

     50,808        1,304,267  

Shinsegae, Inc.

     5,613        1,002,857  

Silicon Works Co., Ltd.

     28,483        644,602  

SK Discovery Co., Ltd.

     48,179        839,031  

SK Materials Co., Ltd.(b)

     9,443        1,039,440  

SK Networks Co., Ltd.

     278,226        1,039,905  

SKC Co., Ltd.(b)

     46,442        1,419,183  

SKCKOLONPI, Inc.

     36,268      779,076  

Soulbrain Co., Ltd.

     11,391        594,183  

Tailim Packaging Co., Ltd.(b)

     104,937        273,258  

TES Co., Ltd.(b)

     36,923        588,414  

UniTest, Inc.

     47,469        452,327  

Winix, Inc.(b)

     15,094        197,145  

YAS Co., Ltd.

     12,093        98,047  

Yuhan Corp.

     6,800        1,279,172  
     

 

 

 
Total South Korea

 

     101,885,078  
Taiwan – 30.5%

 

AcBel Polytech, Inc.(b)

     1,862,303        1,105,380  

Acer, Inc.(b)

     11,003,000        5,675,869  

Alpha Networks, Inc.*

     1,200,000        658,697  

Arcadyan Technology Corp.(b)

     411,681        929,776  

Asia Optical Co., Inc.(b)

     584,000        1,177,984  

Asia Vital Components Co., Ltd.(b)

     764,000        761,688  

ASMedia Technology, Inc.(b)

     57,000        1,451,317  

ASROCK, Inc.(b)

     264,000        925,351  

Aten International Co., Ltd.

     578,000        1,496,533  

Capital Securities Corp.(b)

     10,967,340        3,401,738  

Cathay Real Estate Development Co., Ltd.(b)

     3,932,000        2,242,845  

Charoen Pokphand Enterprise(b)

     816,000        1,594,683  

Chaun-Choung Technology Corp.

     82,000        627,714  

Cheng Loong Corp.

     4,530,000        3,078,270  

Cheng Uei Precision Industry Co., Ltd.(b)

     1,053,000        1,018,476  

Chicony Electronics Co., Ltd.(b)

     2,410,652        6,042,274  

Chicony Power Technology Co., Ltd.

     741,625        1,289,932  

Chilisin Electronics Corp.(b)

     1,568,000        4,189,422  

China Airlines Ltd.

     5,263,000        1,150,354  

China General Plastics Corp.(b)

     2,453,186        1,147,846  

China Metal Products(b)

     1,406,000        1,050,728  

China Steel Chemical Corp.(b)

     598,726        1,847,168  

ChipMOS Technologies, Inc.(b)

     1,314,000        1,155,776  

Chong Hong Construction Co., Ltd.(b)

     1,661,000        4,124,832  

Chroma ATE, Inc.(b)

     958,132        3,944,495  

Chung-Hsin Electric & Machinery Manufacturing Corp.(b)

     2,538,000        1,875,710  

Cleanaway Co., Ltd.

     367,161        1,687,594  

Compeq Manufacturing Co., Ltd.

     2,098,000        2,167,964  

Continental Holdings Corp.

     2,398,000        783,435  

Coremax Corp.(b)

     245,893        318,734  

CTCI Corp.(b)

     2,607,190        2,526,021  

Cub Elecparts, Inc.(b)

     141,191        522,904  

Darfon Electronics Corp.(b)

     1,450,000        1,431,229  

Daxin Materials Corp.(b)

     246,000        566,976  

Elan Microelectronics Corp.(b)

     1,163,409        3,227,684  

Elite Advanced Laser Corp.(b)

     456,312        918,916  

Elite Material Co., Ltd.(b)

     775,163        2,717,037  

Elite Semiconductor Memory Technology, Inc.

     976,000        913,341  

Ennoconn Corp.

     115,674        573,751  

Eternal Materials Co., Ltd.(b)

     3,250,494        2,423,777  

Eva Airways Corp.(b)

     7,199,664        2,116,463  

Everlight Electronics Co., Ltd.

     1,365,165        1,124,038  

Far Eastern Department Stores Ltd.

     3,529,841        2,527,026  

 

See Notes to Financial Statements.

 

WisdomTree Trust      57  


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Far Eastern International Bank

     10,137,908      $ 3,369,078  

Farglory Land Development Co., Ltd.

     1,758,640        2,209,822  

Feng Hsin Steel Co., Ltd.

     1,685,950        2,572,842  

FLEXium Interconnect, Inc.(b)

     661,028        2,085,282  

Formosa International Hotels Corp.(b)

     329,000        1,191,260  

Formosa Sumco Technology Corp.(b)

     658,000        2,817,684  

Foxsemicon Integrated Technology, Inc.(b)

     411,197        1,577,265  

Fusheng Precision Co., Ltd.(b)

     528,000        2,714,945  

Genius Electronic Optical Co., Ltd.(b)

     58,280        795,914  

Getac Technology Corp.(b)

     1,949,292        2,723,330  

Giant Manufacturing Co., Ltd.(b)

     594,000        2,632,012  

Gigabyte Technology Co., Ltd.(b)

     2,566,000        4,327,365  

Global Mixed Mode Technology, Inc.

     222,000        745,102  

Global Unichip Corp.(b)

     136,000        825,224  

Grape King Bio Ltd.(b)

     267,988        1,745,735  

Great Wall Enterprise Co., Ltd.(b)

     2,536,006        3,098,570  

Greatek Electronics, Inc.

     1,754,000        2,435,990  

Hannstar Board Corp.(b)

     761,889        833,905  

Highwealth Construction Corp.(b)

     7,206,613        9,651,235  

Hiwin Technologies Corp.(b)

     514,631        3,411,984  

Holiday Entertainment Co., Ltd.

     659,000        1,194,160  

Holtek Semiconductor, Inc.(b)

     1,009,773        1,990,062  

Holy Stone Enterprise Co., Ltd.(b)

     991,000        2,923,043  

Hota Industrial Manufacturing Co., Ltd.(b)

     563,427        1,417,813  

Hsin Kuang Steel Co., Ltd.(b)

     1,324,000        939,100  

Huaku Development Co., Ltd.(b)

     1,448,296        3,955,797  

IBF Financial Holdings Co., Ltd.(b)

     9,888,140        3,384,166  

International CSRC Investment Holdings Co.(b)

     2,643,297        1,695,682  

Iron Force Industrial Co., Ltd.

     162,000        391,588  

ITE Technology, Inc.(b)

     819,000        1,060,260  

ITEQ Corp.(b)

     472,000        2,083,627  

Jentech Precision Industrial Co., Ltd.(b)

     115,000        654,068  

Kindom Development Co., Ltd.

     996,000        755,855  

King Slide Works Co., Ltd.(b)

     133,004        1,284,234  

King Yuan Electronics Co., Ltd.(b)

     3,376,000        3,376,949  

King’s Town Bank Co., Ltd.(b)

     3,629,000        3,402,019  

Kinik Co.(b)

     764,495        1,294,319  

Kinpo Electronics(b)

     3,873,000        1,260,199  

Kung Long Batteries Industrial Co., Ltd.(b)

     496,000        2,181,373  

Lien Hwa Industrial Holdings Corp.(b)

     3,045,671        3,751,508  

Lite-On Semiconductor Corp.(b)

     1,160,000        1,528,562  

Longchen Paper & Packaging Co., Ltd.(b)

     1,530,377        584,490  

Lotes Co., Ltd.(b)

     219,977        2,000,353  

Macronix International(b)

     5,741,000        4,840,881  

Makalot Industrial Co., Ltd.(b)

     637,800        2,235,564  

Marketech International Corp.(b)

     302,000        549,245  

Merida Industry Co., Ltd.(b)

     369,043        1,354,555  

Merry Electronics Co., Ltd.(b)

     812,030        3,343,013  

Micro-Star International Co., Ltd.

     2,994,877        8,784,141  

Mirle Automation Corp.(b)

     1,493,560        1,501,388  

MOSA Industrial Corp.

     603,000        538,366  

Namchow Holdings Co., Ltd.

     610,086        815,022  

Nan Kang Rubber Tire Co., Ltd.(b)

     992,000        1,289,142  

Nan Pao Resins Chemical Co., Ltd.

     164,000      593,820  

Nantex Industry Co., Ltd.(b)

     1,557,615        1,382,933  

Nichidenbo Corp.(b)

     1,616,000        2,233,646  

Nuvoton Technology Corp.(b)

     170,826        175,675  

OptoTech Corp.

     1,095,062        646,359  

Oriental Union Chemical Corp.(b)

     3,786,000        1,783,989  

Pan Jit International, Inc.(b)

     514,000        325,483  

Pan-International Industrial Corp.

     1,422,000        789,961  

Phoenix Silicon International Corp.(b)

     204,000        288,716  

Powertech Technology, Inc.(b)

     3,285,000        9,330,936  

Primax Electronics Ltd.(b)

     1,352,000        1,725,682  

Qisda Corp.(b)

     6,720,000        3,288,726  

Quang Viet Enterprise Co., Ltd.

     234,000        893,706  

Radium Life Tech Co., Ltd.

     3,817,000        1,130,907  

Rexon Industrial Corp., Ltd.(b)

     267,000        371,256  

Ruentex Industries Ltd.*(b)

     2,573,200        5,905,133  

Sampo Corp.(b)

     2,705,000        1,525,065  

Sanyang Motor Co., Ltd.(b)

     2,953,000        1,889,475  

SDI Corp.(b)

     657,000        821,209  

Sercomm Corp.

     526,488        1,093,314  

Sigurd Microelectronics Corp.

     1,379,496        1,411,815  

Sinbon Electronics Co., Ltd.(b)

     763,120        3,166,892  

Sinon Corp.(b)

     2,567,000        1,612,784  

Sitronix Technology Corp.

     291,000        1,135,459  

Standard Foods Corp.(b)

     1,425,896        2,876,169  

Sunny Friend Environmental Technology Co., Ltd.

     133,000        1,022,519  

Sunonwealth Electric Machine Industry Co., Ltd.(b)

     929,000        964,588  

Supreme Electronics Co., Ltd.(b)

     3,450,000        3,456,674  

Swancor Holding Co., Ltd.(b)

     369,000        733,327  

Syncmold Enterprise Corp.

     1,016,915        2,178,995  

Synnex Technology International Corp.

     5,911,600        7,262,072  

Systex Corp.(b)

     956,000        2,326,657  

TA Chen Stainless Pipe(b)

     5,939,809        5,283,497  

Ta Ya Electric Wire & Cable

     563,120        153,435  

TA-I Technology Co., Ltd.*(b)

     640,000        1,092,009  

Taichung Commercial Bank Co., Ltd.(b)

     7,895,975        2,702,357  

Taiflex Scientific Co., Ltd.

     636,000        881,186  

Tainan Spinning Co., Ltd.(b)

     5,079,000        1,368,776  

Taisun Enterprise Co., Ltd.(b)

     1,580,000        1,204,272  

Taiwan Business Bank(b)

     9,647,240        3,091,174  

Taiwan Cogeneration Corp.(b)

     1,920,970        1,867,517  

Taiwan Hon Chuan Enterprise Co., Ltd.

     1,006,692        1,646,113  

Taiwan Mask Corp.(b)

     446,000        365,749  

Taiwan Paiho Ltd.

     765,000        1,317,941  

Taiwan PCB Techvest Co., Ltd.(b)

     1,015,302        968,585  

Taiwan Sakura Corp.

     999,000        1,379,173  

Taiwan Styrene Monomer(b)

     3,819,000        1,730,083  

Taiwan Surface Mounting Technology Corp.(b)

     516,000        1,179,029  

Teco Electric and Machinery Co., Ltd.(b)

     5,034,683        4,012,230  

Test Research, Inc.(b)

     1,110,115        1,673,900  

Ton Yi Industrial Corp.(b)

     4,182,538        1,106,437  

Tong Hsing Electronic Industries Ltd.(b)

     443,918        1,592,682  

 

See Notes to Financial Statements.

 

58   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Tong Yang Industry Co., Ltd.(b)

     1,065,685      $ 1,127,653  

Topco Scientific Co., Ltd.(b)

     802,521        2,404,259  

Topkey Corp.

     256,000        771,179  

Transcend Information, Inc.

     991,479        2,180,228  

Tripod Technology Corp.(b)

     2,145,928        6,741,172  

TSRC Corp.(b)

     2,686,011        1,292,312  

Tung Ho Steel Enterprise Corp.(b)

     4,014,153        2,867,110  

TXC Corp.

     918,549        1,336,447  

U-Ming Marine Transport Corp.(b)

     1,904,420        1,637,317  

Unimicron Technology Corp.(b)

     2,068,000        2,188,251  

Unitech Printed Circuit Board Corp.(b)

     761,000        490,700  

Visual Photonics Epitaxy Co., Ltd.

     322,750        837,785  

Voltronic Power Technology Corp.

     154,380        3,231,405  

Walsin Lihwa Corp.(b)

     16,951,000        6,165,732  

Wan Hai Lines Ltd.(b)

     3,366,000        1,530,430  

Weikeng Industrial Co., Ltd.

     622,431        267,566  

Winbond Electronics Corp.(b)

     13,961,000        5,239,732  

Wistron Corp.

     13,165,007        10,665,565  

Wistron NeWeb Corp.(b)

     987,722        1,708,178  

WPG Holdings Ltd.

     8,321,058        9,767,953  

WT Microelectronics Co., Ltd.(b)

     2,510,678        2,831,014  

YC INOX Co., Ltd.

     2,329,000        1,686,593  

YFY, Inc.(b)

     5,405,000        2,064,307  

Yulon Finance Corp.(b)

     643,000        1,845,557  
     

 

 

 
Total Taiwan

 

     370,475,368  
Thailand – 4.8%

 

AEON Thana Sinsap Thailand PCL NVDR(b)

     117,100        352,362  

After You PCL NVDR

     905,200        190,322  

Amata Corp. PCL NVDR(b)

     1,360,300        414,504  

Ananda Development PCL NVDR(b)

     7,912,600        284,509  

AP Thailand PCL NVDR

     4,511,300        522,372  

Bangchak Corp. PCL NVDR(b)

     2,037,700        931,378  

Bangkok Chain Hospital PCL NVDR(b)

     1,873,000        650,635  

Bangkok Land PCL NVDR(b)

     43,946,114        1,098,067  

Banpu PCL NVDR

     3,497,100        564,779  

Banpu Power PCL NVDR(b)

     1,337,000        488,885  

BCPG PCL NVDR(b)

     1,795,000        678,236  

Carabao Group PCL NVDR(b)

     484,400        937,286  

Central Plaza Hotel PCL NVDR(b)

     1,009,000        473,485  

Central Retail Corp. PCL NVDR*

     1,698,383        1,449,066  

CH Karnchang PCL NVDR(b)

     1,081,325        504,130  

Chularat Hospital PCL NVDR(b)

     9,939,200        636,012  

CK Power PCL NVDR(b)

     4,072,200        367,295  

Com7 PCL NVDR(b)

     920,200        437,423  

Delta Electronics Thailand PCL NVDR(b)

     593,300        614,678  

Do Day Dream PCL NVDR

     438,600        153,695  

Eastern Polymer Group PCL NVDR

     3,313,800        355,438  

Eastern Water Resources Development and Management PCL NVDR(b)

     3,278,500        919,089  

Erawan Group PCL (The) NVDR(b)

     4,358,100        329,339  

GFPT PCL NVDR(b)

     1,454,100        385,485  

Global Green Chemicals PCL NVDR

     2,161,300        391,856  

Hana Microelectronics PCL NVDR

     2,652,400        1,858,923  

Jasmine International PCL NVDR(b)

     16,080,700        2,401,019  

JMT Network Services PCL NVDR(b)

     2,042,400      815,280  

JWD Infologistics PCL NVDR

     2,589,400        410,296  

KCE Electronics PCL NVDR(b)

     1,635,800        682,881  

KGI Securities Thailand PCL NVDR

     10,299,000        1,148,605  

Kiatnakin Bank PCL NVDR(b)

     1,583,206        1,881,467  

LPN Development PCL NVDR(b)

     5,438,218        543,532  

Major Cineplex Group PCL NVDR(b)

     2,616,900        1,076,503  

MBK PCL NVDR

     2,046,300        816,836  

Mega Lifesciences PCL NVDR(b)

     835,800        565,392  

MK Restaurants Group PCL NVDR(b)

     1,145,600        1,649,413  

Noble Development PCL NVDR

     1,764,000        639,647  

Origin Property PCL NVDR

     5,426,300        585,331  

Plan B Media Pcl NVDR(b)

     4,925,600        444,268  

Prima Marine PCL NVDR

     2,071,400        275,198  

Property Perfect PCL NVDR(b)

     37,648,700        412,997  

Pruksa Holding PCL NVDR(b)

     4,171,900        1,175,899  

PTG Energy PCL NVDR

     1,572,200        464,701  

Quality Houses PCL NVDR(b)

     28,050,644        1,589,829  

Rajthanee Hospital PCL NVDR(b)

     997,700        571,547  

Ratchthani Leasing PCL NVDR(b)

     4,443,900        538,942  

RS PCL NVDR(b)

     1,573,000        431,386  

Sansiri PCL NVDR(b)

     43,928,400        789,754  

Siam City Cement PCL NVDR

     397,554        1,441,576  

Siam Future Development PCL NVDR(b)

     4,320,160        481,810  

Siam Global House PCL NVDR(b)

     3,644,346        1,016,097  

Siamgas & Petrochemicals PCL NVDR(b)

     3,340,500        783,785  

Singha Estate PCL NVDR(b)

     7,863,900        304,324  

Sino-Thai Engineering & Construction PCL NVDR(b)

     1,569,100        545,067  

Somboon Advance Technology PCL NVDR(b)

     1,512,700        364,145  

SPCG PCL NVDR

     2,930,200        1,276,814  

Sri Trang Agro-Industry PCL NVDR(b)

     2,219,600        743,981  

Supalai PCL NVDR(b)

     1,730,300        785,601  

Taokaenoi Food & Marketing PCL NVDR(b)

     1,825,580        294,830  

Thai Vegetable Oil PCL NVDR

     2,953,600        2,025,017  

Thaifoods Group PCL NVDR(b)

     6,208,200        590,221  

Thanachart Capital PCL NVDR

     1,927,300        1,952,700  

Thonburi Healthcare Group PCL NVDR

     1,066,400        581,658  

Tipco Asphalt PCL NVDR(b)

     1,147,700        601,522  

TPI Polene PCL NVDR(b)

     16,902,500        571,700  

TPI Polene Power PCL NVDR

     13,072,200        1,218,890  

TQM Corp. PCL NVDR

     312,300        639,969  

TTW PCL NVDR

     7,337,000        2,839,336  

Unique Engineering & Construction PCL NVDR(b)

     2,672,500        312,711  

Univentures PCL NVDR(b)

     4,140,300        302,787  

VGI PCL NVDR(b)

     3,534,800        613,952  

Vinythai PCL NVDR

     984,700        531,094  

WHA Corp. PCL NVDR(b)

     22,108,200        1,482,076  

WHA Utilities and Power PCL NVDR

     4,096,600        519,292  

Workpoint Entertainment PCL NVDR(b)

     972,000        199,924  
     

 

 

 
Total Thailand

 

     58,920,851  

 

See Notes to Financial Statements.

 

WisdomTree Trust      59  


Table of Contents

Schedule of Investments (concluded)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Turkey – 2.1%

 

Aksa Akrilik Kimya Sanayii AS

     1,213,004      $ 1,166,943  

Anadolu Cam Sanayii AS

     1        0  

Anadolu Efes Biracilik ve Malt Sanayii AS

     569,560        1,489,097  

Aselsan Elektronik Sanayi ve Ticaret AS

     1        3  

Aygaz AS

     1,177,530        1,500,892  

Coca-Cola Icecek AS

     323,808        1,719,704  

Dogan Sirketler Grubu Holding AS

     6,773,866        1,572,628  

Emlak Konut Gayrimenkul Yatirim Ortakligi AS

     2,468,931        438,322  

Enerjisa Enerji AS(a)

     1,770,101        1,821,067  

Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS Class D(b)

     4,842,840        1,396,213  

Sasa Polyester Sanayi AS

     608,196        809,359  

Soda Sanayii AS

     2,300,373        1,780,191  

TAV Havalimanlari Holding AS

     1,459,337        3,667,026  

Tekfen Holding AS(b)

     1,235,829        2,381,553  

Tofas Turk Otomobil Fabrikasi AS

     1,035,457        2,584,616  

Trakya Cam Sanayii AS

     2,302,130        1,002,559  

Turkiye Sise ve Cam Fabrikalari AS(b)

     2,682,038        1,684,859  
     

 

 

 
Total Turkey

 

     25,015,032  

TOTAL COMMON STOCKS

(Cost: $1,605,110,624)

 

 

     1,206,089,841  
WARRANTS – 0.0%

 

Malaysia – 0.0%

 

Serba Dinamik Holdings Bhd, expiring 12/5/24*
(Cost: $0)
     922,800        38,450  
EXCHANGE-TRADED FUND – 0.2%

 

United States – 0.2%

 

WisdomTree Emerging Markets High Dividend Fund(b)(d)

 

  
(Cost: $3,403,473)      83,028      $ 2,677,653  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.6%

 

United States – 1.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(e)

     
(Cost: $19,373,838)      19,373,838        19,373,838  

TOTAL INVESTMENTS IN SECURITIES – 100.9%

(Cost: $1,627,887,935)

 

 

     1,228,179,782  

Other Assets less Liabilities – (0.9)%

 

     (11,329,664
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,216,850,118  

 

* 

Non-income producing security.

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $431,138, which represents 0.04% of net assets.

 

(a) 

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

 

(b) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $162,816,942 and the total market value of the collateral held by the Fund was $185,528,910. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $166,155,072.

 

(c) 

Restricted securities. At March 31, 2020, the value of such securities held by the Fund are as follows:

 

Investment   Restricted
Shares
    Acquisition
Date
    Acquisition
Cost
    Value     Value as a
Percentage of
Net Assets
 

India

 

     

Yes Bank Ltd.

    5,997,912      
10/18/19 -
1/10/20
 
 
  $ 4,327,731     $ 1,779,920       0.1

 

(d) 

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

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree Emerging Markets High Dividend Fund

  $     $ 45,375,186     $ 41,401,818     $ (569,895   $ (725,820   $ 2,677,653     $ 596,983  

 

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

Bank of America N.A.

    4/1/2020       8,545,986       TWD       282,708       USD     $     $ (117

Merrill Lynch International

    4/1/2020       429,966       MYR       99,829       USD             (300

Merrill Lynch International

    4/1/2020       870,818       THB       26,647       USD             (112

Merrill Lynch International

    4/2/2020       684,744       THB       20,886       USD             (21
                                            $     $ (550

 

See Notes to Financial Statements.

 

60   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.9%

 

Australia – 6.8%

 

Altium Ltd.

     4,046      $ 70,799  

Aristocrat Leisure Ltd.(a)

     24,159        315,692  

BlueScope Steel Ltd.

     18,020        95,182  

Cochlear Ltd.

     2,182        250,338  

CSL Ltd.

     13,317        2,418,141  

Domino’s Pizza Enterprises Ltd.(a)

     4,499        140,710  

Fortescue Metals Group Ltd.

     401,821        2,459,346  

IDP Education Ltd.

     8,349        59,072  

Magellan Financial Group Ltd.(a)

     16,983        452,366  

NIB Holdings Ltd.

     41,719        130,990  

Northern Star Resources Ltd.

     21,989        141,717  
     

 

 

 
Total Australia

 

     6,534,353  
Brazil – 0.9%

 

BB Seguridade Participacoes S.A.

     52,218        250,187  

IRB Brasil Resseguros S.A.

     13,413        25,033  

Itausa - Investimentos Itau S.A.

     92,870        178,162  

Localiza Rent a Car S.A.

     8,704        44,136  

Lojas Renner S.A.

     11,169        72,269  

Magazine Luiza S.A.

     4,440        33,378  

Natura & Co. Holding S.A.

     6,688        33,191  

Odontoprev S.A.

     10,304        28,767  

Qualicorp Consultoria e Corretora de Seguros S.A.

     14,039        63,880  

Raia Drogasil S.A.

     2,668        52,392  

YDUQS Part*

     18,290        78,180  
     

 

 

 
Total Brazil

 

     859,575  
Canada — 4.9%

 

Alimentation Couche-Tard, Inc. Class B

     15,016        349,725  

Canadian National Railway Co.(a)

     34,762        2,687,226  

Canadian Pacific Railway Ltd.

     4,028        878,839  

CI Financial Corp.(a)

     19,564        192,018  

Constellation Software, Inc.

     246        221,055  

Gildan Activewear, Inc.

     8,372        105,521  

Kirkland Lake Gold Ltd.

     644        18,754  

Methanex Corp.

     9,145        110,060  

Toromont Industries Ltd.(a)

     2,615        113,264  

West Fraser Timber Co., Ltd.

     1,091        20,573  
     

 

 

 
Total Canada

 

     4,697,035  
China – 8.2%

 

Anhui Conch Cement Co., Ltd. Class H

     73,000        507,173  

ANTA Sports Products Ltd.

     19,000        139,603  

Ausnutria Dairy Corp., Ltd.*

     16,000        25,391  

Brilliance China Automotive Holdings Ltd.

     42,000        34,571  

China Education Group Holdings Ltd.(a)

     13,000        18,114  

China Gas Holdings Ltd.

     43,000        149,789  

China Medical System Holdings Ltd.

     73,000        79,019  

China Overseas Land & Investment Ltd.

     1,072,000        3,326,272  

CIFI Holdings Group Co., Ltd.

     406,000        293,334  

CSPC Pharmaceutical Group Ltd.

     180,400        361,224  

Geely Automobile Holdings Ltd.

     175,000        258,293  

Greentown Service Group Co., Ltd.

     12,000        14,553  

Haitian International Holdings Ltd.

     19,000        35,299  

Health & Happiness H&H International Holdings Ltd.

     9,500      35,115  

Li Ning Co., Ltd.

     6,000        17,533  

Logan Property Holdings Co., Ltd.

     86,000        132,702  

Midea Real Estate Holding Ltd.(a)(b)

     25,200        62,814  

Minth Group Ltd.

     22,000        47,174  

Shenzhou International Group Holdings Ltd.

     15,700        166,907  

Sino Biopharmaceutical Ltd.

     73,250        96,584  

SITC International Holdings Co., Ltd.

     85,000        79,507  

SSY Group Ltd.

     48,000        37,528  

Sunac China Holdings Ltd.

     101,000        467,804  

Sunny Optical Technology Group Co., Ltd.

     9,000        121,225  

Tencent Holdings Ltd.

     25,000        1,226,309  

Xinyi Solar Holdings Ltd.

     207,787        117,688  

Zhongsheng Group Holdings Ltd.

     10,300        36,013  
     

 

 

 
Total China

 

     7,887,538  
Denmark – 12.0%

 

Ambu A/S Class B(a)

     2,330        56,599  

Chr Hansen Holding A/S

     8,153        609,965  

Coloplast A/S Class B

     10,890        1,579,825  

DSV Panalpina A/S

     2,358        214,345  

GN Store Nord A/S

     1,280        57,179  

Novo Nordisk A/S Class B

     116,444        7,005,509  

Orsted A/S(b)

     16,797        1,645,912  

Royal Unibrew A/S

     3,117        224,718  

SimCorp A/S

     1,522        127,788  
     

 

 

 
Total Denmark

 

     11,521,840  
Finland – 1.8%

 

Neste Oyj

     51,986        1,759,735  
France – 2.0%

 

Gaztransport Et Technigaz S.A.

     4,183        307,516  

Hermes International

     1,930        1,331,606  

Sartorius Stedim Biotech

     1,265        254,008  
     

 

 

 
Total France

 

     1,893,130  
Germany – 2.0%

 

adidas AG

     6,300        1,423,320  

CTS Eventim AG & Co. KGaA

     4,004        180,920  

Fuchs Petrolub SE

     4,783        153,246  

Nemetschek SE

     2,256        112,086  

Wirecard AG

     481        55,232  
     

 

 

 
Total Germany

 

     1,924,804  
Hong Kong – 0.2%

 

Kingboard Laminates Holdings Ltd.

     106,000        98,056  

Vitasoy International Holdings Ltd.(a)

     44,000        133,404  
     

 

 

 
Total Hong Kong

 

     231,460  
India – 4.0%

 

Adani Ports & Special Economic Zone Ltd.

     1,829        6,076  

AIA Engineering Ltd.

     566        10,424  

Alkem Laboratories Ltd.

     577        17,739  

Ashok Leyland Ltd.

     99,209        56,456  

Asian Paints Ltd.

     2,688        59,213  

Balkrishna Industries Ltd.

     3,182        33,298  

 

See Notes to Financial Statements.

 

WisdomTree Trust      61  


Table of Contents

Schedule of Investments (continued)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2020

 

 

 

Investments    Shares      Value  

Bandhan Bank Ltd.(b)

     4,719      $ 12,710  

Britannia Industries Ltd.

     466        16,564  

Coal India Ltd.

     162,854        301,485  

Colgate-Palmolive India Ltd.

     2,564        42,457  

Crompton Greaves Consumer Electricals Ltd.

     5,041        13,913  

Cummins India Ltd.

     6,182        26,697  

Dabur India Ltd.

     6,063        36,069  

Divi’s Laboratories Ltd.

     954        25,083  

Emami Ltd.

     1,759        3,952  

Endurance Technologies Ltd.(b)

     161        1,279  

GlaxoSmithKline Pharmaceuticals Ltd.

     852        14,161  

Godrej Consumer Products Ltd.

     5,240        36,077  

Havells India Ltd.

     2,889        18,348  

HCL Technologies Ltd.

     8,737        50,400  

Hero MotoCorp., Ltd.

     4,102        86,563  

Hindustan Petroleum Corp., Ltd.

     45,438        114,179  

Hindustan Unilever Ltd.

     12,078        366,964  

Infosys Ltd.

     120,036        1,017,869  

InterGlobe Aviation Ltd.(b)

     1,920        27,058  

ITC Ltd.

     106,539        241,804  

JSW Steel Ltd.

     34,869        67,409  

Jubilant Foodworks Ltd.

     553        10,756  

Kansai Nerolac Paints Ltd.

     1,415        7,247  

L&T Technology Services Ltd.(b)

     585        8,980  

Larsen & Toubro Infotech Ltd.(b)

     560        10,577  

Marico Ltd.

     6,711        24,382  

Maruti Suzuki India Ltd.

     1,669        94,607  

Nestle India Ltd.

     283        60,978  

Nippon Life India Asset Management Ltd.(b)

     4,000        13,176  

Page Industries Ltd.

     83        18,611  

Petronet LNG Ltd.

     29,575        78,070  

Pidilite Industries Ltd.

     3,226        57,841  

Sun TV Network Ltd.

     5,041        19,054  

Tata Consultancy Services Ltd.

     20,417        492,834  

Tata Steel Ltd.

     24,538        87,447  

Titan Co., Ltd.

     2,457        30,325  

United Breweries Ltd.

     572        6,947  

UPL Ltd.

     11,458        49,451  

Whirlpool of India Ltd.

     749        18,008  
     

 

 

 
Total India

 

     3,793,538  
Indonesia – 0.9%

 

Ace Hardware Indonesia Tbk PT

     200,500        15,981  

Gudang Garam Tbk PT

     38,100        96,009  

Hanjaya Mandala Sampoerna Tbk PT

     784,700        68,559  

Indofood CBP Sukses Makmur Tbk PT

     35,100        22,005  

Mayora Indah Tbk PT

     129,100        14,683  

Telekomunikasi Indonesia Persero Tbk PT

     2,659,700        515,307  

Unilever Indonesia Tbk PT

     227,400        101,082  
     

 

 

 
Total Indonesia

 

     833,626  
Italy – 1.8%

 

Azimut Holding SpA

     26,007        376,107  

Ferrari N.V.

     3,991        619,865  

Freni Brembo SpA(a)

     25,362        189,094  

Interpump Group SpA

     2,305      55,591  

Moncler SpA

     7,101        259,382  

Reply SpA

     659        40,276  

Salvatore Ferragamo SpA(a)

     9,801        130,125  
     

 

 

 
Total Italy

 

     1,670,440  
Japan – 12.7%

 

Advantest Corp.(a)

     8,700        349,757  

Asahi Intecc Co., Ltd.

     3,700        91,579  

Benefit One, Inc.(a)

     4,800        62,693  

Capcom Co., Ltd.

     3,700        116,187  

Chugai Pharmaceutical Co., Ltd.

     19,700        2,281,043  

Disco Corp.(a)

     1,200        237,432  

GMO Payment Gateway, Inc.

     1,200        84,257  

Goldwin, Inc.(a)

     500        27,882  

Harmonic Drive Systems, Inc.(a)

     2,400        105,044  

Haseko Corp.(a)

     57,500        616,252  

Hoya Corp.

     10,800        920,383  

Kakaku.com, Inc.

     10,600        194,905  

Kaken Pharmaceutical Co., Ltd.

     3,400        158,418  

Kobe Bussan Co., Ltd.(a)

     2,200        86,814  

Koito Manufacturing Co., Ltd.

     8,600        291,168  

Kose Corp.(a)

     1,600        197,564  

Kotobuki Spirits Co., Ltd.

     400        18,026  

Kusuri no Aoki Holdings Co., Ltd.

     200        16,637  

Lasertec Corp.

     900        42,184  

M3, Inc.(a)

     5,100        150,938  

MonotaRO Co., Ltd.(a)

     3,700        98,297  

Nihon M&A Center, Inc.(a)

     3,300        90,329  

Nippon Shinyaku Co., Ltd.

     1,600        125,682  

Open House Co., Ltd.

     6,400        131,907  

Oracle Corp.

     5,000        437,219  

Pigeon Corp.(a)

     4,800        184,299  

Relo Group, Inc.(a)

     3,000        62,998  

Shin-Etsu Chemical Co., Ltd.

     20,300        2,017,683  

Shionogi & Co., Ltd.

     14,300        704,304  

TechnoPro Holdings, Inc.

     1,800        84,535  

Tokyo Electron Ltd.

     10,900        2,055,204  

ZOZO, Inc.(a)

     6,552        88,064  
     

 

 

 
Total Japan

 

     12,129,684  
Malaysia – 0.1%

 

Westports Holdings Bhd

     71,300        55,786  
Mexico – 0.3%

 

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

     11,244        38,426  

Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B

     9,158        87,195  

Kimberly-Clark de Mexico S.A.B. de C.V. Class A

     78,618        120,377  
     

 

 

 
Total Mexico

 

     245,998  
Netherlands – 3.2%

 

ASM International N.V.

     1,273        127,584  

ASML Holding N.V.

     10,057        2,675,447  

Euronext N.V.(b)

     3,637        270,569  
     

 

 

 
Total Netherlands

 

     3,073,600  

 

See Notes to Financial Statements.

 

62   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2020

 

 

 

Investments    Shares      Value  
New Zealand – 0.6%

 

Fisher & Paykel Healthcare Corp., Ltd.

     29,356      $ 528,725  

Mainfreight Ltd.

     3,933        80,559  
     

 

 

 
Total New Zealand

 

     609,284  
Norway – 2.7%

 

Telenor ASA

     177,670        2,570,048  
Philippines – 0.0%

 

San Miguel Food and Beverage, Inc.

     23,400        23,004  
Russia – 2.8%

 

Magnitogorsk Iron & Steel Works PJSC GDR(c)

     26,577        166,638  

Novatek PJSC GDR(a)(c)

     3,385        390,290  

PhosAgro PJSC GDR(c)

     14,496        149,599  

Tatneft PJSC ADR(a)

     45,689        1,930,360  
     

 

 

 
Total Russia

 

     2,636,887  
Singapore – 0.7%

 

Singapore Technologies Engineering Ltd.

     302,700        663,289  
South Africa – 0.7%

 

Assore Ltd.

     8,663        144,356  

Capitec Bank Holdings Ltd.

     1,307        64,399  

Clicks Group Ltd.

     8,399        121,188  

Mr. Price Group Ltd.

     19,743        126,108  

Naspers Ltd. Class N

     1,699        242,931  
     

 

 

 
Total South Africa

 

     698,982  
South Korea – 0.5%

 

Coway Co., Ltd.

     2,662        126,392  

LG Household & Health Care Ltd.

     109        100,284  

NCSoft Corp.

     409        219,056  

POSCO Chemical Co., Ltd.

     631        22,703  
     

 

 

 
Total South Korea

 

     468,435  
Spain – 0.2%

 

Prosegur Cash S.A.(b)

     239,458        230,165  
Sweden – 3.3%

 

Atlas Copco AB Class B

     27,914        825,500  

Beijer Ref AB

     3,829        69,100  

Epiroc AB Class A

     21,894        217,577  

Epiroc AB Class B

     7,794        77,423  

Evolution Gaming Group AB(b)

     8,854        302,053  

Hexpol AB

     21,056        126,663  

Indutrade AB(a)

     3,424        93,309  

Lifco AB Class B

     2,972        109,489  

Sandvik AB

     91,908        1,310,294  
     

 

 

 
Total Sweden

 

     3,131,408  
Switzerland – 6.0%

 

Logitech International S.A. Registered Shares

     9,507        411,113  

Partners Group Holding AG

     1,993        1,379,270  

Roche Holding AG Bearer Shares

     7,298        2,339,765  

Schindler Holding AG Participation Certificate

     1,866        409,631  

Sika AG Registered Shares

     4,777        789,707  

Straumann Holding AG Registered Shares

     333        248,283  

Temenos AG Registered Shares*

     934        122,500  
     

 

 

 
Total Switzerland

 

     5,700,269  
Taiwan – 2.8%

 

Accton Technology Corp.

     12,000      64,679  

Advantech Co., Ltd.

     15,000        123,754  

Catcher Technology Co., Ltd.

     52,000        336,161  

Delta Electronics, Inc.

     111,000        442,290  

Eclat Textile Co., Ltd.

     6,283        49,966  

Feng TAY Enterprise Co., Ltd.

     17,684        76,019  

Largan Precision Co., Ltd.

     2,000        253,294  

Micro-Star International Co., Ltd.

     51,000        149,586  

Nanya Technology Corp.

     158,000        280,561  

Nien Made Enterprise Co., Ltd.

     9,000        53,718  

Novatek Microelectronics Corp.

     41,000        233,189  

President Chain Store Corp.

     26,000        243,308  

Walsin Technology Corp.

     41,000        218,276  

Wiwynn Corp.

     3,000        69,639  

Yulon Nissan Motor Co., Ltd.

     13,000        99,301  
     

 

 

 
Total Taiwan

 

     2,693,741  
Thailand – 0.7%

 

Airports of Thailand PCL NVDR

     51,000        78,868  

Bangkok Dusit Medical Services PCL NVDR

     30,300        17,450  

Bangkok Expressway & Metro PCL NVDR

     173,900        41,067  

Carabao Group PCL NVDR

     23,500        45,471  

Central Pattana PCL NVDR

     10,350        13,483  

CP ALL PCL

     62,256        115,245  

CP ALL PCL NVDR

     23,500        43,681  

Energy Absolute PCL NVDR

     37,900        38,977  

Intouch Holdings PCL NVDR

     66,600        101,470  

Krungthai Card PCL NVDR

     46,600        38,694  

Muangthai Capital PCL NVDR

     32,700        34,875  

Osotspa PCL NVDR

     51,800        56,429  

TOA Paint Thailand PCL NVDR

     46,200        44,345  

VGI PCL NVDR

     194,800        33,835  
     

 

 

 
Total Thailand

 

     703,890  
Turkey – 0.5%

 

Aselsan Elektronik Sanayi ve Ticaret AS

     9,439        33,801  

BIM Birlesik Magazalar AS

     12,463        94,840  

Eregli Demir ve Celik Fabrikalari T.A.S.

     265,315        302,343  

Ford Otomotiv Sanayi AS

     7,889        58,992  
     

 

 

 
Total Turkey

 

     489,976  
United Kingdom – 15.6%

 

Abcam PLC

     5,486        77,751  

AJ Bell PLC

     4,380        16,863  

Ashmore Group PLC(a)

     76,761        339,602  

Ashtead Group PLC

     21,684        474,691  

British American Tobacco PLC

     184,799        6,322,016  

Croda International PLC

     5,319        281,751  

Daily Mail & General Trust PLC Class A Non-Voting Shares(a)

     20,310        171,751  

Diploma PLC

     6,506        130,203  

Electrocomponents PLC

     19,020        121,740  

Evraz PLC

     510,196        1,465,142  

Greggs PLC

     10,874        217,619  

Halma PLC

     10,624        253,058  

 

See Notes to Financial Statements.

 

WisdomTree Trust      63  


Table of Contents

Schedule of Investments (continued)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2020

 

 

 

Investments    Shares      Value  

Hargreaves Lansdown PLC

     26,664      $ 458,240  

Hays PLC

     219,999        314,252  

Howden Joinery Group PLC

     36,606        232,395  

JD Sports Fashion PLC

     12,470        70,770  

Moneysupermarket.com Group PLC

     43,629        164,403  

Next PLC

     9,942        501,979  

NMC Health PLC(a)

     1,921        2  

RELX PLC

     120,929        2,597,064  

Rightmove PLC

     39,468        238,526  

Softcat PLC

     12,769        164,187  

Victrex PLC

     7,146        174,556  

WH Smith PLC

     9,227        130,542  
     

 

 

 
Total United Kingdom

 

     14,919,103  

TOTAL COMMON STOCKS

(Cost: $104,283,639)

 

 

     94,650,623  
EXCHANGE-TRADED FUNDS – 0.3%

 

United States – 0.3%

 

WisdomTree Emerging Markets High Dividend Fund(a)(d)

     3,883        125,227  

WisdomTree International Equity Fund(a)(d)

     4,830        190,736  

TOTAL EXCHANGE-TRADED FUNDS

(Cost: $406,914)

 

 

     315,963  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 2.5%

 

United States – 2.5%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(e)

     
(Cost: $2,349,390)      2,349,390      $ 2,349,390  

TOTAL INVESTMENTS IN SECURITIES – 101.7%

(Cost: $107,039,943)

 

 

     97,315,976  

Other Assets less Liabilities – (1.7)%

 

     (1,655,294
     

 

 

 
NET ASSETS – 100.0%

 

   $ 95,660,682  

 

* 

Non-income producing security.

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $2, which represent less than 0.1% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $6,640,657 and the total market value of the collateral held by the Fund was $6,972,387. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $4,622,997.

 

(b) 

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

 

(c) 

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

 

(d) 

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

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree Emerging Markets High Dividend Fund

  $ 4,647     $ 656,613     $ 504,108     $ 6,538     $ (38,463   $ 125,227     $ 8,599  

WisdomTree International Equity Fund

    6,886       984,609       746,271       (1,969     (52,519     190,736       10,702  
Total   $ 11,533     $ 1,641,222     $ 1,250,379     $ 4,569     $ (90,982   $ 315,963     $ 19,301  

 

See Notes to Financial Statements.

 

64   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2020

 

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

Amount and
Description of
Currency to
be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Bank of America N.A.

    4/1/2020       11,164,324       KRW       9,174       USD     $     $ (3

Bank of America N.A.

    4/1/2020       894,314       TWD       29,585       USD             (12

Canadian Imperial Bank of Commerce

    4/2/2020       774,756       DKK       103,788       EUR       40        

Citibank N.A.

    4/2/2020       22,500       TRY       3,092       EUR       21        

Citibank N.A.

    4/2/2020       209,137       USD       190,000       EUR       659        

Goldman Sachs

    4/2/2020       34,000       CAD       21,912       EUR             (155

Goldman Sachs

    4/2/2020       393,147       MXN       16,760       USD             (2

Goldman Sachs

    4/3/2020       363,823       ZAR       20,373       USD             (2

Morgan Stanley & Co. International

    4/1/2020       2,631       GBP       34,039       NOK       21        

Morgan Stanley & Co. International

    4/2/2020       82,699       AUD       46,029       EUR       110        

Morgan Stanley & Co. International

    4/2/2020       75,500       CHF       71,125       EUR             (10

Morgan Stanley & Co. International

    4/2/2020       850,000       HKD       99,612       EUR       365        

Morgan Stanley & Co. International

    4/2/2020       12,604,356       JPY       106,235       EUR       189        

Morgan Stanley & Co. International

    4/2/2020       412,000       SEK       37,692       EUR       226        
                                            $ 1,631     $ (184

 

See Notes to Financial Statements.

 

WisdomTree Trust      65  


Table of Contents

Schedule of Investments

WisdomTree Global ex-U.S. Real Estate Fund (DRW)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

Australia – 6.9%

 

Abacus Property Group

     67,399      $ 96,529  

BWP Trust

     83,752        171,722  

Charter Hall Group

     42,914        180,181  

Charter Hall Long Wale REIT

     37,885        101,793  

Charter Hall Retail REIT

     57,035        108,565  

Cromwell Property Group(a)

     286,955        140,505  

Dexus

     114,943        639,489  

Goodman Group

     103,145        763,872  

GPT Group (The)

     197,373        438,512  

Growthpoint Properties Australia Ltd.

     106,348        164,028  

LendLease Group

     36,625        230,888  

Mirvac Group

     385,182        492,719  

Scentre Group

     776,221        743,510  

Shopping Centres Australasia Property Group

     125,728        174,681  

Stockland

     385,915        597,584  

Vicinity Centres

     626,313        396,752  

Viva Energy REIT

     99,015        139,385  
     

 

 

 
Total Australia

 

     5,580,715  
Austria – 0.6%

 

CA Immobilien Anlagen AG

     7,233        243,648  

IMMOFINANZ AG*

     9,669        172,507  

S IMMO AG

     5,073        97,968  
     

 

 

 
Total Austria

 

     514,123  
Belgium – 1.2%

 

Aedifica S.A.

     1,994        206,758  

Befimmo S.A.

     4,079        195,811  

Cofinimmo S.A.

     1,288        168,460  

Warehouses De Pauw CVA

     13,860        397,991  
     

 

 

 
Total Belgium

 

     969,020  
Brazil – 0.5%

 

BR Malls Participacoes S.A.

     176,210        339,062  

Multiplan Empreendimentos Imobiliarios S.A.

     13,806        50,788  
     

 

 

 
Total Brazil

 

     389,850  
Canada – 4.7%

 

Allied Properties Real Estate Investment Trust

     9,543        299,964  

Artis Real Estate Investment Trust

     17,126        96,017  

Boardwalk Real Estate Investment Trust

     2,559        41,189  

Canadian Apartment Properties REIT

     10,239        306,375  

Choice Properties Real Estate Investment Trust

     40,432        367,008  

Cominar Real Estate Investment Trust

     24,052        137,044  

Crombie Real Estate Investment Trust

     14,128        123,279  

CT Real Estate Investment Trust

     14,340        117,875  

Dream Industrial Real Estate Investment Trust

     14,656        96,687  

Dream Office Real Estate Investment Trust

     5,259        86,237  

First Capital Real Estate Investment Trust

     23,814        228,043  

Granite Real Estate Investment Trust

     6,338        258,846  

H&R Real Estate Investment Trust

     43,771        274,616  

Killam Apartment Real Estate Investment Trust

     8,423        93,382  

Northview Apartment Real Estate Investment Trust

     9,492        218,336  

NorthWest Healthcare Properties Real Estate Investment Trust

     24,112        163,644  

RioCan Real Estate Investment Trust

     40,030      453,637  

SmartCentres Real Estate Investment Trust

     20,408        270,128  

Summit Industrial Income REIT

     10,408        64,860  

Tricon Capital Group, Inc.(a)

     12,988        62,871  
     

 

 

 
Total Canada

 

     3,760,038  
Chile – 0.1%

 

Parque Arauco S.A.

     44,606        62,802  
China – 17.9%

 

Agile Group Holdings Ltd.

     414,000        448,136  

China Aoyuan Group Ltd.

     161,000        188,608  

China Jinmao Holdings Group Ltd.

     1,363,000        882,770  

China Overseas Grand Oceans Group Ltd.

     424,000        248,353  

China Overseas Land & Investment Ltd.

     1,062,049        3,295,395  

China Resources Land Ltd.

     252,000        1,040,395  

China SCE Group Holdings Ltd.

     396,000        176,263  

China Vanke Co., Ltd. Class H

     175,900        579,835  

CIFI Holdings Group Co., Ltd.

     651,900        470,996  

Country Garden Holdings Co., Ltd.(a)

     1,106,000        1,338,461  

E-House China Enterprise Holdings Ltd.(a)

     48,000        40,191  

Greentown China Holdings Ltd.(a)

     124,500        113,242  

Guangzhou R&F Properties Co., Ltd. Class H

     312,000        407,364  

Hopson Development Holdings Ltd.

     102,000        91,066  

Kaisa Group Holdings Ltd.(a)

     223,000        82,572  

KWG Group Holdings Ltd.*

     294,500        418,711  

Logan Property Holdings Co., Ltd.

     188,000        290,093  

Longfor Group Holdings Ltd.(b)

     136,500        664,810  

Midea Real Estate Holding Ltd.(a)(b)

     39,000        97,212  

Poly Property Group Co., Ltd.

     483,000        163,889  

Powerlong Real Estate Holdings Ltd.

     229,000        134,725  

Ronshine China Holdings Ltd.(a)

     67,000        65,523  

Seazen Group Ltd.

     212,000        191,462  

Shenzhen Investment Ltd.

     1,310,000        409,011  

Shimao Property Holdings Ltd.

     140,500        494,865  

Shui On Land Ltd.

     817,000        137,029  

Sino-Ocean Group Holding Ltd.

     1,412,700        359,058  

Sunac China Holdings Ltd.

     164,900        763,771  

Times China Holdings Ltd.

     119,000        199,283  

Yuexiu Property Co., Ltd.

     1,943,000        350,953  

Yuzhou Properties Co., Ltd.

     447,000        190,313  

Zhenro Properties Group Ltd.

     129,700        81,325  
     

 

 

 
Total China

 

     14,415,680  
Finland – 0.5%

 

Citycon Oyj(a)

     23,449        144,728  

Kojamo Oyj(a)

     11,798        223,696  
     

 

 

 
Total Finland

 

     368,424  
France – 6.9%

 

Covivio

     10,197        574,538  

Cromwell European Real Estate Investment Trust(a)

     407,500        160,967  

Gecina S.A.

     6,973        923,491  

ICADE

     10,210        808,291  

Klepierre S.A.

     54,585        1,052,327  

Mercialys S.A.

     22,433        162,949  

 

See Notes to Financial Statements.

 

66   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Global ex-U.S. Real Estate Fund (DRW)

March 31, 2020

 

 

 

Investments    Shares      Value  

Nexity S.A.

     8,163      $ 250,971  

Unibail-Rodamco-Westfield

     2,503        141,605  

Unibail-Rodamco-Westfield(a)

     26,872        1,520,263  
     

 

 

 
Total France

 

     5,595,402  
Germany – 5.1%

 

alstria office REIT-AG

     16,636        238,030  

Deutsche Wohnen SE Bearer Shares

     23,508        895,315  

LEG Immobilien AG

     5,430        611,894  

PATRIZIA AG

     4,136        95,303  

TAG Immobilien AG

     12,859        254,536  

Vonovia SE

     41,498        2,042,642  
     

 

 

 
Total Germany

 

     4,137,720  
Hong Kong – 21.8%

 

Champion REIT

     857,000        517,457  

Hang Lung Group Ltd.

     146,649        309,157  

Hang Lung Properties Ltd.

     488,283        991,572  

Henderson Land Development Co., Ltd.

     578,915        2,207,091  

Hui Xian REIT

     877,634        277,348  

Hysan Development Co., Ltd.

     143,115        465,301  

Kowloon Development Co., Ltd.

     79,000        86,329  

Link REIT

     184,115        1,560,639  

New World Development Co., Ltd.

     1,244,054        1,338,607  

Sino Land Co., Ltd.

     797,735        1,012,749  

Sun Hung Kai Properties Ltd.

     319,810        4,216,876  

Sunlight Real Estate Investment Trust

     264,000        129,430  

Swire Pacific Ltd. Class A

     120,778        778,343  

Swire Pacific Ltd. Class B

     127,500        130,446  

Swire Properties Ltd.

     551,941        1,552,377  

Wharf Holdings Ltd. (The)(a)

     296,872        526,264  

Wheelock & Co., Ltd.

     183,231        1,250,554  

Yuexiu Real Estate Investment Trust

     516,900        254,752  
     

 

 

 
Total Hong Kong

 

     17,605,292  
India – 0.1%

 

DLF Ltd.

     35,532        64,558  
Israel – 1.4%

 

Alony Hetz Properties & Investments Ltd.

     15,396        179,750  

Amot Investments Ltd.

     47,041        279,258  

Azrieli Group Ltd.

     5,885        340,711  

Gazit-Globe Ltd.

     22,621        173,936  

Melisron Ltd.

     3,207        125,381  
     

 

 

 
Total Israel

 

     1,099,036  
Japan – 7.8%

 

Aeon Mall Co., Ltd.(a)

     13,730        173,350  

Daibiru Corp.

     5,700        47,097  

Daito Trust Construction Co., Ltd.

     9,200        857,746  

Daiwa House Industry Co., Ltd.

     59,900        1,485,640  

Hulic Co., Ltd.

     43,700        444,469  

Ichigo, Inc.

     21,300        49,326  

Invesco Office J-REIT, Inc.

     843        111,666  

Invincible Investment Corp.

     781        175,292  

Japan Hotel REIT Investment Corp.

     493        143,395  

Katitas Co., Ltd.(a)

     3,000        48,215  

Kenedix, Inc.

     15,100      57,348  

Mitsubishi Estate Co., Ltd.

     57,289        846,426  

Mitsui Fudosan Co., Ltd.

     45,008        779,838  

Nomura Real Estate Holdings, Inc.(a)

     16,065        261,165  

Open House Co., Ltd.

     6,500        133,968  

Relo Group, Inc.(a)

     4,100        86,098  

Sumitomo Realty & Development Co., Ltd.

     10,379        253,334  

Tokyo Tatemono Co., Ltd.

     14,400        152,997  

Tokyu Fudosan Holdings Corp.(a)

     41,968        201,375  
     

 

 

 
Total Japan

 

     6,308,745  
Malaysia – 0.4%

 

IGB Real Estate Investment Trust

     247,900        91,241  

KLCCP Stapled Group

     61,400        110,719  

Sunway Bhd

     186,553        66,934  

Sunway Real Estate Investment Trust

     227,596        83,768  
     

 

 

 
Total Malaysia

 

     352,662  
Mexico – 1.1%

 

Concentradora Fibra Danhos S.A. de C.V.

     210,563        174,488  

Fibra Uno Administracion S.A. de C.V.

     549,054        435,091  

PLA Administradora Industrial S de RL de C.V.

     162,072        181,283  

Prologis Property Mexico S.A. de C.V.

     60,499        92,196  
     

 

 

 
Total Mexico

 

     883,058  
Netherlands – 0.1%

 

Eurocommercial Properties N.V. CVA(a)

     9,468        91,733  
New Zealand – 0.5%

 

Goodman Property Trust

     138,805        176,513  

Kiwi Property Group Ltd.

     174,498        97,244  

Precinct Properties New Zealand Ltd.

     129,776        131,179  
     

 

 

 
Total New Zealand

 

     404,936  
Norway – 0.2%

 

Entra ASA(b)

     15,752        186,006  
Philippines – 0.4%

 

Altus San Nicolas Corp.*

     2,084        107  

Ayala Land, Inc.

     190,100        112,879  

Megaworld Corp.

     680,400        33,445  

Robinsons Land Corp.

     113,347        33,072  

SM Prime Holdings, Inc.

     266,475        148,798  
     

 

 

 
Total Philippines

 

     328,301  
Singapore – 9.7%

 

Ascendas India Trust

     105,300        88,745  

Ascendas Real Estate Investment Trust

     467,053        928,300  

Ascott Residence Trust

     282,588        156,789  

CapitaLand Commercial Trust

     440,675        473,528  

CapitaLand Ltd.

     357,189        714,955  

CapitaLand Mall Trust

     425,486        534,902  

CapitaLand Retail China Trust

     177,695        152,255  

CDL Hospitality Trusts

     172,200        96,752  

City Developments Ltd.

     40,703        206,967  

ESR-REIT

     634,100        133,602  

Frasers Centrepoint Trust

     118,918        187,082  

Frasers Commercial Trust

     145,500        120,581  

 

See Notes to Financial Statements.

 

WisdomTree Trust      67  


Table of Contents

Schedule of Investments (continued)

WisdomTree Global ex-U.S. Real Estate Fund (DRW)

March 31, 2020

 

 

 

Investments    Shares      Value  

Frasers Logistics & Industrial Trust

     340,199      $ 211,452  

Frasers Property Ltd.

     89,600        69,850  

GuocoLand Ltd.

     60,700        57,125  

Keppel DC REIT

     159,604        256,694  

Keppel REIT

     331,000        220,845  

Manulife US Real Estate Investment Trust

     292,572        212,115  

Mapletree Commercial Trust

     336,720        432,769  

Mapletree Industrial Trust

     253,518        432,664  

Mapletree Logistics Trust

     480,075        532,724  

Mapletree North Asia Commercial Trust

     513,400        290,260  

OUE Commercial Real Estate Investment Trust

     432,300        106,265  

Parkway Life Real Estate Investment Trust

     75,800        164,499  

SPH REIT

     324,300        175,377  

Starhill Global REIT

     218,884        66,871  

Suntec Real Estate Investment Trust

     340,928        299,301  

UOL Group Ltd.

     55,600        256,552  

Wing Tai Holdings Ltd.

     96,500        105,050  

Yanlord Land Group Ltd.

     227,700        157,520  
     

 

 

 
Total Singapore

 

     7,842,391  
South Africa – 1.3%

 

Growthpoint Properties Ltd.

     767,451        553,029  

Hyprop Investments Ltd.

     92,941        98,873  

Redefine Properties Ltd.

     1,524,432        202,290  

Resilient REIT Ltd.

     58,256        104,378  

Vukile Property Fund Ltd.

     250,047        99,123  
     

 

 

 
Total South Africa

 

     1,057,693  
Spain – 0.7%

 

Inmobiliaria Colonial Socimi S.A.

     24,393        231,118  

Merlin Properties Socimi S.A.

     36,452        274,779  

Metrovacesa S.A.(b)

     15,592        87,081  
     

 

 

 
Total Spain

 

     592,978  
Sweden – 2.1%

 

Atrium Ljungberg AB Class B

     7,657        119,635  

Castellum AB

     21,031        356,612  

Dios Fastigheter AB

     11,442        76,567  

Fabege AB

     16,159        207,620  

Hufvudstaden AB Class A

     11,999        164,343  

Klovern AB Class B(a)

     59,087        88,144  

Kungsleden AB

     17,225        130,391  

Sagax AB Class B

     8,446        85,247  

Samhallsbyggnadsbolaget i Norden AB

     55,393        106,227  

Wallenstam AB Class B

     14,014        159,834  

Wihlborgs Fastigheter AB

     10,988        153,380  
     

 

 

 
Total Sweden

 

     1,648,000  
Switzerland – 1.8%

 

Allreal Holding AG Registered Shares*

     1,455        269,180  

PSP Swiss Property AG Registered Shares

     3,619        451,463  

Swiss Prime Site AG Registered Shares

     7,459        730,443  
     

 

 

 
Total Switzerland

 

     1,451,086  
Taiwan – 0.4%

 

Highwealth Construction Corp.

     226,110        302,811  
Thailand – 0.8%

 

Central Pattana PCL NVDR

     55,374      72,133  

CPN Retail Growth Leasehold REIT

     178,800        129,670  

Frasers Property Thailand Industrial REIT

     42,900        17,648  

Frasers Property Thailand Industrial REIT

     98,000        40,314  

Land & Houses PCL NVDR

     679,511        138,728  

Pruksa Holding PCL NVDR

     244,300        68,859  

Supalai PCL NVDR

     175,900        79,863  

Tesco Lotus Retail Growth Freehold & Leasehold Property Fund

     154,100        71,374  

WHA Corp. PCL NVDR(a)

     635,600        42,609  
     

 

 

 
Total Thailand

 

     661,198  
United Kingdom – 4.7%

 

Assura PLC

     233,823        242,091  

Big Yellow Group PLC

     13,310        165,698  

Capital & Counties Properties PLC

     11,851        24,378  

CLS Holdings PLC

     32,530        78,896  

Derwent London PLC

     5,282        214,166  

Grainger PLC

     30,595        98,331  

Great Portland Estates PLC

     7,834        66,170  

Hammerson PLC(a)

     156,613        150,266  

Land Securities Group PLC

     96,672        667,428  

Londonmetric Property PLC

     71,125        155,129  

Primary Health Properties PLC

     79,703        158,717  

Safestore Holdings PLC

     13,964        110,901  

Savills PLC

     11,727        119,962  

Secure Income REIT PLC

     27,158        108,095  

Segro PLC

     71,603        678,311  

Shaftesbury PLC

     13,023        99,713  

St. Modwen Properties PLC

     9,845        40,345  

Tritax Big Box REIT PLC

     177,478        246,912  

Unite Group PLC (The)

     17,829        177,188  

Workspace Group PLC

     15,448        145,480  
     

 

 

 
Total United Kingdom

 

     3,748,177  

TOTAL COMMON STOCKS

(Cost: $100,639,730)

 

 

     80,422,435  
RIGHTS – 0.0%

 

Thailand – 0.0%

 

CPN Real Estate Investment Trust*

     

(Cost: $0)

     40,343        0  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.7%

 

United States – 0.7%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $563,441)      563,441        563,441  

TOTAL INVESTMENTS IN SECURITIES – 100.4%

(Cost: $101,203,171)

 

 

     80,985,876  

Other Assets less Liabilities – (0.4)%

 

     (282,679
     

 

 

 
NET ASSETS – 100.0%

 

   $ 80,703,197  

 

See Notes to Financial Statements.

 

68   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Global ex-U.S. Real Estate Fund (DRW)

March 31, 2020

 

 

*

Non-income producing security.

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $107, which represents 0.0% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $1,849,442 and the total market value of the collateral held by the Fund was $1,951,584. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,388,143.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

 

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

Citibank N.A.

    4/2/2020       81,600       AUD       40,279       GBP     $ 0     $  

Citibank N.A.

    4/2/2020       41,886       CAD       23,732       GBP       1        

Citibank N.A.

    4/2/2020       101,625       EUR       89,930       GBP       0        

Citibank N.A.

    4/2/2020       1,643,364       HKD       170,994       GBP             (2

Citibank N.A.

    4/2/2020       20,433       HKD       284,106       JPY       4        

Citibank N.A.

    4/2/2020       35,498       ILS       8,093       GBP       0        

Citibank N.A.

    4/2/2020       5,922,595       JPY       44,245       GBP       0        

JP Morgan Chase Bank N.A.

    4/2/2020       4,282       AUD       2,530       CHF       6        

Morgan Stanley & Co. International

    4/2/2020       36,837       USD       29,629       GBP       98        

UBS AG

    4/2/2020       4,638       ILS       13,003       SEK             (1
                                            $ 109     $ (3

 

See Notes to Financial Statements.

 

WisdomTree Trust      69  


Table of Contents

Schedule of Investments

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.0%

 

Australia – 2.8%

 

AGL Energy Ltd.

     2,744      $ 28,870  

Atlas Arteria Ltd.(a)

     3,331        11,233  

AusNet Services

     25,998        27,210  

Australia & New Zealand Banking Group Ltd.

     9,034        93,776  

Bendigo & Adelaide Bank Ltd.(a)

     2,451        9,406  

BHP Group Ltd.(a)

     13,717        243,301  

BHP Group PLC

     11,361        176,370  

Challenger Ltd.(a)

     2,523        6,177  

Coca-Cola Amatil Ltd.

     1,886        10,204  

Commonwealth Bank of Australia(a)

     5,686        215,141  

Crown Resorts Ltd.

     4,429        20,602  

Fortescue Metals Group Ltd.

     17,431        106,686  

Harvey Norman Holdings Ltd.(a)

     5,000        9,028  

Insurance Australia Group Ltd.(a)

     10,250        38,896  

Macquarie Group Ltd.

     1,285        67,441  

Medibank Pvt Ltd.(a)

     6,127        9,975  

National Australia Bank Ltd.

     9,081        92,708  

Nine Entertainment Co. Holdings Ltd.(a)

     13,814        9,681  

Orora Ltd.

     7,508        11,121  

Qantas Airways Ltd.

     5,319        10,515  

QBE Insurance Group Ltd.

     3,804        20,023  

Rio Tinto Ltd.

     1,617        83,698  

Spark Infrastructure Group

     19,134        22,836  

Star Entertainment Group Ltd. (The)

     5,904        7,769  

Suncorp Group Ltd.(a)

     5,911        33,031  

Sydney Airport

     14,150        48,412  

Tabcorp Holdings Ltd.(a)

     13,088        20,267  

Telstra Corp., Ltd.

     28,738        53,998  

Transurban Group(a)

     9,598        70,728  

Wesfarmers Ltd.

     4,790        100,470  

Westpac Banking Corp.

     14,536        146,797  

Woodside Petroleum Ltd.(a)

     4,934        54,992  
     

 

 

 
Total Australia

 

     1,861,362  
Austria – 0.2%

 

Andritz AG*

     378        11,854  

BAWAG Group AG(b)

     583        16,363  

Erste Group Bank AG

     1,537        28,476  

Lenzing AG

     145        8,019  

Oesterreichische Post AG(a)

     461        16,490  

Raiffeisen Bank International AG

     1,124        16,496  

UNIQA Insurance Group AG

     1,811        14,029  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     257        4,833  
     

 

 

 
Total Austria

 

     116,560  
Belgium – 0.2%

 

Ageas

     1,069        44,467  

KBC Group N.V.

     975        44,954  

Proximus SADP

     1,698        38,883  

Solvay S.A.(a)

     427        31,101  
     

 

 

 
Total Belgium

 

     159,405  
Brazil – 0.3%

 

Banco do Brasil S.A.

     6,900      37,103  

Banco Santander Brasil S.A.

     3,315        17,046  

BR Malls Participacoes S.A.

     9,400        18,087  

Cia Siderurgica Nacional S.A.

     7,700        10,362  

Cyrela Brazil Realty S.A. Empreendimentos e Participacoes

     2,500        6,811  

Itau Unibanco Holding S.A.

     6,005        25,564  

Itausa – Investimentos Itau S.A.

     11,500        22,062  

Klabin S.A.

     9,800        30,213  

Petrobras Distribuidora S.A.

     5,800        17,344  

Porto Seguro S.A.

     700        6,063  

Transmissora Alianca de Energia Eletrica S.A.

     5,200        25,897  

YDUQS Part*

     1,800        7,694  
     

 

 

 
Total Brazil

 

     224,246  
Canada – 3.0%

 

AltaGas Ltd.(a)

     1,711        15,327  

Bank of Montreal(a)

     1,941        96,903  

Bank of Nova Scotia (The)

     3,124        126,136  

BCE, Inc.

     3,906        158,424  

Canadian Imperial Bank of Commerce

     1,366        78,696  

Canadian Natural Resources Ltd.

     4,400        59,508  

Canadian Utilities Ltd. Class A

     400        9,454  

Capital Power Corp.

     600        11,445  

Chartwell Retirement Residences

     1,700        10,690  

Emera, Inc.

     1,671        65,157  

Enbridge, Inc.

     10,091        290,532  

Gibson Energy, Inc.(a)

     900        10,275  

Great-West Lifeco, Inc.

     2,091        35,713  

Husky Energy, Inc.(a)

     6,700        16,664  

Hydro One Ltd.(a)(b)

     2,535        45,131  

IGM Financial, Inc.

     1,328        21,786  

Inter Pipeline Ltd.(a)

     2,735        16,179  

Manulife Financial Corp.

     3,388        42,060  

Methanex Corp.

     500        6,017  

National Bank of Canada

     1,144        43,715  

Northland Power, Inc.(a)

     700        13,815  

Pembina Pipeline Corp.(a)

     2,408        44,663  

Power Corp. of Canada(a)

     3,185        50,661  

Royal Bank of Canada

     3,597        220,291  

Suncor Energy, Inc.

     5,600        88,366  

TC Energy Corp.

     3,599        158,160  

TELUS Corp.

     5,094        79,630  

Toronto-Dominion Bank (The)

     4,593        193,065  

TransAlta Renewables, Inc.(a)

     1,300        13,581  
     

 

 

 
Total Canada

 

     2,022,044  
Chile – 0.0%

 

Cia Cervecerias Unidas S.A.

     2,303        15,861  

Colbun S.A.

     154,999        16,913  
     

 

 

 
Total Chile

 

     32,774  

 

See Notes to Financial Statements.

 

70   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

 

 

Investments    Shares      Value  
China – 4.5%

 

Agile Group Holdings Ltd.

     16,000      $ 17,319  

Agricultural Bank of China Ltd. Class H

     200,074        80,279  

Anhui Conch Cement Co., Ltd. Class H

     6,000        41,686  

Bank of China Ltd. Class H

     397,366        152,263  

Bank of Communications Co., Ltd. Class H

     67,125        41,136  

Beijing Enterprises Water Group Ltd.*

     32,000        12,510  

CGN Power Co., Ltd. Class H(b)

     62,000        14,238  

China CITIC Bank Corp., Ltd. Class H

     55,000        27,178  

China Communications Construction Co., Ltd. Class H

     41,000        28,564  

China Construction Bank Corp. Class H

     556,536        455,230  

China Everbright International Ltd.

     30,000        17,224  

China Jinmao Holdings Group Ltd.

     42,000        27,202  

China Minsheng Banking Corp., Ltd. Class H(a)

     63,500        47,189  

China Mobile Ltd.

     75,500        561,557  

China Petroleum & Chemical Corp. Class H

     274,000        135,040  

China Power International Development Ltd.

     115,000        21,365  

China Shenhua Energy Co., Ltd. Class H

     32,000        60,938  

China Vanke Co., Ltd. Class H

     7,400        24,393  

China Zhongwang Holdings Ltd.(a)

     40,800        10,738  

CIFI Holdings Group Co., Ltd.

     40,000        28,900  

CITIC Ltd.

     112,000        117,189  

CNOOC Ltd.

     226,415        237,489  

COSCO Shipping Ports Ltd.

     20,000        9,651  

Country Garden Holdings Co., Ltd.(a)

     46,000        55,668  

Far East Horizon Ltd.

     16,000        12,902  

Fosun International Ltd.

     44,000        50,864  

Great Wall Motor Co., Ltd. Class H

     33,000        21,160  

Guangzhou Automobile Group Co., Ltd. Class H

     30,000        30,151  

Hengan International Group Co., Ltd.

     5,500        41,405  

Industrial & Commercial Bank of China Ltd. Class H

     335,000        229,502  

Kingboard Holdings Ltd.

     14,000        32,801  

KWG Group Holdings Ltd.*

     24,000        34,123  

Lee & Man Paper Manufacturing Ltd.

     35,000        21,223  

Longfor Group Holdings Ltd.(b)

     8,000        38,963  

Midea Real Estate Holding Ltd.(a)(b)

     3,600        8,973  

Nine Dragons Paper Holdings Ltd.

     30,000        27,365  

PetroChina Co., Ltd. Class H

     152,000        55,694  

Postal Savings Bank of China Co., Ltd. Class H(b)

     33,000        20,096  

Shenzhen Investment Ltd.

     44,000        13,738  

Shimao Property Holdings Ltd.

     12,500        44,027  

Sinotruk Hong Kong Ltd.

     14,500        24,133  

Weichai Power Co., Ltd. Class H

     18,000        28,982  

Xinyi Glass Holdings Ltd.

     16,000        18,372  

Yuexiu Property Co., Ltd.

     112,000        20,230  

Yuzhou Properties Co., Ltd.

     46,700        19,883  
     

 

 

 
Total China

 

     3,019,533  
Czech Republic – 0.0%

 

O2 Czech Republic AS

     2,196        19,877  
Denmark – 0.2%

 

Danske Bank A/S

     3,786        42,810  

H. Lundbeck A/S

     1,239        36,765  

Topdanmark A/S(a)

     574        23,126  
     

 

 

 
Total Denmark

 

     102,701  
Finland – 0.7%

 

Elisa Oyj

     959      59,432  

Fortum Oyj

     4,775        70,077  

Kesko Oyj Class B

     339        19,194  

Nokian Renkaat Oyj(a)

     450        10,897  

Nordea Bank Abp

     21,623        122,391  

Sampo Oyj Class A

     2,853        83,333  

Stora Enso Oyj Class R

     2,421        24,561  

UPM-Kymmene Oyj(a)

     2,468        67,944  

Wartsila Oyj Abp(a)

     2,622        19,247  
     

 

 

 
Total Finland

 

     477,076  
France – 2.5%

 

Amundi S.A.(b)

     514        30,371  

AXA S.A.

     8,532        147,803  

BNP Paribas S.A.

     4,561        137,675  

Bouygues S.A.

     1,849        54,210  

Cie de Saint-Gobain

     1,930        46,939  

Cie Generale des Etablissements Michelin SCA

     601        53,455  

CNP Assurances

     2,169        21,229  

Covivio

     341        19,213  

Credit Agricole S.A.

     12,406        91,067  

Engie S.A.

     7,252        74,894  

Eutelsat Communications S.A.

     2,011        21,020  

ICADE

     515        40,771  

Imerys S.A.

     652        16,397  

Klepierre S.A.

     1,739        33,526  

Lagardere SCA

     668        8,429  

Natixis S.A.(a)

     10,640        34,639  

Nexity S.A.

     307        9,439  

Orange S.A.

     11,381        139,052  

Publicis Groupe S.A.

     799        22,899  

Renault S.A.

     1,846        35,868  

Rexel S.A.

     1,751        13,026  

SCOR SE

     963        21,218  

Societe BIC S.A.

     314        17,520  

Societe Generale S.A.

     4,025        67,783  

Suez

     762        7,756  

TOTAL S.A.(a)

     11,845        459,961  

Valeo S.A.

     864        14,457  

Veolia Environnement S.A.

     1,817        38,827  
     

 

 

 
Total France

 

     1,679,444  
Germany – 2.9%

 

Allianz SE Registered Shares

     1,243        213,966  

BASF SE

     3,788        179,327  

Bayer AG Registered Shares

     3,328        192,990  

Bayerische Motoren Werke AG

     2,972        153,643  

Continental AG

     737        53,057  

Covestro AG(b)

     903        27,614  

Daimler AG Registered Shares

     6,684        201,832  

Deutsche Post AG Registered Shares

     3,972        107,976  

Deutsche Telekom AG Registered Shares

     17,598        228,121  

DWS Group GmbH & Co. KGaA(b)

     573        14,172  

E.ON SE

     8,786        91,015  

 

See Notes to Financial Statements.

 

WisdomTree Trust      71  


Table of Contents

Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

 

 

Investments    Shares      Value  

Evonik Industries AG

     2,271      $ 47,520  

Hochtief AG

     299        19,849  

Muenchener Rueckversicherungs – Gesellschaft AG Registered Shares

     492        99,386  

Siemens AG Registered Shares

     2,372        201,630  

Siltronic AG

     255        19,099  

Telefonica Deutschland Holding AG

     30,417        75,394  

TUI AG

     3,413        15,388  

Wacker Chemie AG

     226        11,286  
     

 

 

 
Total Germany

 

     1,953,265  
Hong Kong – 1.0%

 

BOC Hong Kong Holdings Ltd.

     39,500        109,313  

Chow Tai Fook Jewellery Group Ltd.

     19,600        13,883  

CLP Holdings Ltd.

     8,000        73,798  

Hang Lung Group Ltd.

     9,000        18,973  

Hang Seng Bank Ltd.

     5,500        94,021  

Henderson Land Development Co., Ltd.

     16,100        61,381  

Kingboard Laminates Holdings Ltd.

     14,500        13,413  

New World Development Co., Ltd.

     36,472        39,244  

PCCW Ltd.

     70,000        38,563  

Power Assets Holdings Ltd.

     7,000        41,860  

Sino Land Co., Ltd.

     26,000        33,008  

SJM Holdings Ltd.

     19,000        16,056  

Sun Hung Kai Properties Ltd.

     7,500        98,892  

Swire Pacific Ltd. Class A

     4,000        25,778  

Wharf Holdings Ltd. (The)(a)

     5,519        9,783  
     

 

 

 
Total Hong Kong

 

     687,966  
India – 0.2%

 

Bharat Petroleum Corp., Ltd.

     5,872        24,598  

Bharti Infratel Ltd.

     9,405        19,891  

Hindustan Petroleum Corp., Ltd.

     6,703        16,844  

Indian Oil Corp., Ltd.

     24,900        26,874  

Power Grid Corp. of India Ltd.

     9,698        20,396  

REC Ltd.

     8,614        10,105  

Vedanta Ltd.

     31,880        27,265  
     

 

 

 
Total India

 

     145,973  
Indonesia – 0.1%

 

Hanjaya Mandala Sampoerna Tbk PT

     100,900        8,816  

Telekomunikasi Indonesia Persero Tbk PT

     280,700        54,384  

United Tractors Tbk PT

     19,100        19,791  
     

 

 

 
Total Indonesia

 

     82,991  
Ireland – 0.0%

 

AIB Group PLC*

     12,192        13,672  

Bank of Ireland Group PLC

     4,953        9,369  
     

 

 

 
Total Ireland

 

     23,041  
Israel – 0.0%

 

Bank Leumi Le-Israel BM

     2,651        14,689  

Israel Chemicals Ltd.

     5,798        18,488  
     

 

 

 
Total Israel

 

     33,177  
Italy – 1.5%

 

ACEA SpA

     1,398        22,212  

Assicurazioni Generali SpA(a)

     3,660        49,838  

Azimut Holding SpA

     2,078      30,052  

Enel SpA

     38,282        266,269  

Eni SpA

     17,970        181,796  

Intesa Sanpaolo SpA

     101,408        165,614  

Italgas SpA

     1,422        7,784  

Mediobanca Banca di Credito Finanziario SpA

     2,709        14,946  

Poste Italiane SpA(b)

     5,346        45,285  

Snam SpA

     16,382        75,568  

Telecom Italia SpA RSP

     23,896        9,452  

Terna Rete Elettrica Nazionale SpA

     10,468        66,274  

Unione di Banche Italiane SpA

     4,259        11,248  

UnipolSai Assicurazioni SpA(a)

     13,981        34,363  
     

 

 

 
Total Italy

 

     980,701  
Japan – 4.8%

 

AEON Financial Service Co., Ltd.(a)

     1,100        11,799  

Aisin Seiki Co., Ltd.

     1,500        37,015  

Bridgestone Corp.

     2,200        67,719  

Canon, Inc.

     6,900        150,777  

Concordia Financial Group Ltd.

     5,800        16,924  

Denka Co., Ltd.

     500        10,546  

DIC Corp.

     500        11,083  

Fukuoka Financial Group, Inc.

     900        11,930  

Haseko Corp.(a)

     1,400        15,004  

Honda Motor Co., Ltd.(a)

     6,300        141,809  

ITOCHU Corp.(a)

     4,742        98,503  

Japan Post Holdings Co., Ltd.

     10,600        83,039  

Japan Post Insurance Co., Ltd.(a)

     2,500        31,055  

Japan Tobacco, Inc.

     11,700        216,323  

JXTG Holdings, Inc.

     15,000        51,438  

Kansai Electric Power Co., Inc. (The)(a)

     3,400        37,904  

KDDI Corp.

     7,400        218,665  

Komatsu Ltd.

     4,000        65,898  

Konica Minolta, Inc.

     2,800        11,386  

Lawson, Inc.

     400        21,972  

Marubeni Corp.

     8,669        43,283  

Matsui Securities Co., Ltd.(a)

     1,600        11,753  

Mebuki Financial Group, Inc.

     11,100        22,621  

Mitsubishi Chemical Holdings Corp.

     7,300        43,467  

Mitsubishi Corp.

     6,700        142,217  

Mitsubishi Gas Chemical Co., Inc.

     1,600        17,430  

Mitsubishi Motors Corp.(a)

     6,800        19,275  

Mitsubishi UFJ Financial Group, Inc.

     39,300        146,708  

Mitsubishi UFJ Lease & Finance Co., Ltd.

     2,000        9,856  

Mitsui Chemicals, Inc.

     1,000        18,999  

Mizuho Financial Group, Inc.

     80,800        92,510  

MS&AD Insurance Group Holdings, Inc.

     1,100        30,823  

Nikon Corp.

     2,200        20,338  

Nippon Electric Glass Co., Ltd.

     1,100        14,754  

NSK Ltd.

     3,100        19,929  

NTT DOCOMO, Inc.

     10,600        331,584  

SBI Holdings, Inc.(a)

     800        11,694  

Seiko Epson Corp.(a)

     2,200        23,843  

Sekisui House Ltd.

     2,600        42,978  

 

See Notes to Financial Statements.

 

72   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

 

 

Investments    Shares      Value  

Shimizu Corp.

     1,800      $ 14,089  

Showa Denko K.K.

     900        18,649  

Softbank Corp.(a)

     21,100        268,649  

Sojitz Corp.

     12,400        29,175  

Subaru Corp.(a)

     2,300        44,176  

SUMCO Corp.

     1,200        15,484  

Sumitomo Corp.

     4,386        50,338  

Sumitomo Mitsui Financial Group, Inc.(a)

     5,000        121,486  

Sumitomo Rubber Industries Ltd.

     1,700        16,047  

Takeda Pharmaceutical Co., Ltd.

     6,600        202,240  

Tosoh Corp.

     1,300        14,812  

Ube Industries Ltd.

     700        10,744  

Yamaha Motor Co., Ltd.

     1,700        20,582  
     

 

 

 
Total Japan

 

     3,201,322  
Malaysia – 0.2%

 

AMMB Holdings Bhd

     20,900        14,514  

CIMB Group Holdings Bhd

     16,900        14,083  

DiGi.Com Bhd

     34,900        35,142  

Malayan Banking Bhd

     27,700        47,770  

MISC Bhd

     5,600        9,645  

Petronas Gas Bhd

     5,100        18,181  

RHB Bank Bhd

     16,300        17,696  

YTL Corp. Bhd

     67,000        11,244  
     

 

 

 
Total Malaysia

 

     168,275  
Mexico – 0.2%

 

Alfa S.A.B. de C.V. Class A

     25,500        6,957  

Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B

     2,903        15,764  

Grupo Financiero Banorte S.A.B. de C.V. Class O

     11,800        32,695  

Grupo Mexico S.A.B. de C.V. Series B

     30,512        56,890  

Industrias Penoles S.A.B. de C.V.

     1,255        8,446  
     

 

 

 
Total Mexico

 

     120,752  
Netherlands – 0.5%

 

ABN AMRO Bank N.V. CVA(b)

     3,621        29,735  

ING Groep N.V.

     19,272        101,111  

Koninklijke Ahold Delhaize N.V.

     4,519        105,541  

Koninklijke KPN N.V.

     16,977        40,534  

NN Group N.V.

     1,325        35,765  

Randstad N.V.

     597        21,073  
     

 

 

 
Total Netherlands

 

     333,759  
New Zealand – 0.2%

 

Mercury NZ Ltd.

     14,323        35,834  

Meridian Energy Ltd.

     13,971        33,462  

Spark New Zealand Ltd.

     17,317        41,938  

Vector Ltd.

     3,969        7,459  
     

 

 

 
Total New Zealand

 

     118,693  
Norway – 0.7%

 

Aker ASA Class A

     259        5,811  

Aker BP ASA

     2,064        26,063  

DNB ASA

     5,201        57,825  

Equinor ASA

     14,559        181,831  

Gjensidige Forsikring ASA

     2,053        34,810  

Mowi ASA

     2,714      41,003  

Storebrand ASA

     3,492        13,884  

Telenor ASA

     6,861        99,246  
     

 

 

 
Total Norway

 

     460,473  
Philippines – 0.1%

 

DMCI Holdings, Inc.

     105,800        7,843  

Manila Electric Co.

     3,150        13,935  

PLDT, Inc.

     910        20,200  
     

 

 

 
Total Philippines

 

     41,978  
Poland – 0.0%

 

Bank Polska Kasa Opieki S.A.

     621        8,394  

Santander Bank Polska S.A.

     518        21,638  
     

 

 

 
Total Poland

 

     30,032  
Portugal – 0.2%

 

EDP – Energias de Portugal S.A.

     17,731        71,168  

Galp Energia, SGPS, S.A.

     2,885        32,906  

NOS, SGPS, S.A.

     5,689        19,051  
     

 

 

 
Total Portugal

 

     123,125  
Russia – 1.8%

 

Gazprom Neft PJSC ADR

     318        6,220  

Gazprom PJSC ADR

     57,129        265,021  

Lukoil PJSC ADR

     2,739        164,340  

Magnit PJSC GDR(c)

     4,804        43,054  

Magnitogorsk Iron & Steel Works PJSC GDR(c)

     5,881        36,874  

MMC Norilsk Nickel PJSC ADR

     9,721        242,247  

Mobile TeleSystems PJSC ADR

     5,857        44,513  

Rosneft Oil Co. PJSC GDR(c)

     10,746        43,726  

Sberbank of Russia PJSC ADR

     17,907        170,654  

Tatneft PJSC ADR

     4,052        171,197  
     

 

 

 
Total Russia

 

     1,187,846  
Singapore – 0.7%

 

ComfortDelGro Corp., Ltd.

     13,800        14,732  

DBS Group Holdings Ltd.

     7,700        100,424  

Genting Singapore Ltd.

     50,700        24,569  

NetLink NBN Trust

     35,300        22,437  

Olam International Ltd.

     19,000        19,082  

Oversea-Chinese Banking Corp., Ltd.

     12,254        74,358  

SATS Ltd.

     5,200        11,540  

Singapore Technologies Engineering Ltd.

     12,000        26,295  

Singapore Telecommunications Ltd.

     69,200        123,446  

United Overseas Bank Ltd.

     4,213        57,550  
     

 

 

 
Total Singapore

 

     474,433  
South Africa – 0.5%

 

Absa Group Ltd.

     2,851        11,972  

African Rainbow Minerals Ltd.

     2,021        11,404  

Assore Ltd.

     1,167        19,446  

FirstRand Ltd.

     17,615        39,718  

Foschini Group Ltd. (The)

     3,136        11,882  

Kumba Iron Ore Ltd.(a)

     851        13,344  

Liberty Holdings Ltd.

     1,494        5,546  

Mr. Price Group Ltd.

     2,281        14,570  

 

See Notes to Financial Statements.

 

WisdomTree Trust      73  


Table of Contents

Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

 

 

Investments    Shares      Value  

MTN Group Ltd.(a)

     9,953      $ 26,967  

Nedbank Group Ltd.

     3,120        14,440  

Old Mutual Ltd.(a)

     35,059        23,262  

Sanlam Ltd.

     8,914        25,499  

SPAR Group Ltd. (The)

     2,017        20,526  

Standard Bank Group Ltd.

     6,850        39,301  

Telkom S.A. SOC Ltd.

     3,272        3,761  

Vodacom Group Ltd.

     3,909        25,610  
     

 

 

 
Total South Africa

 

     307,248  
South Korea – 0.5%

 

Hana Financial Group, Inc.

     2,123        40,285  

Hyundai Heavy Industries Holdings Co., Ltd.

     79        12,817  

Industrial Bank of Korea

     2,575        15,865  

KB Financial Group, Inc.

     1,917        54,407  

KT&G Corp.

     433        26,570  

Meritz Securities Co., Ltd.

     2,178        5,063  

POSCO

     524        69,301  

Samsung Fire & Marine Insurance Co., Ltd.

     195        24,668  

SK Innovation Co., Ltd.

     367        26,228  

SK Telecom Co., Ltd.

     248        36,059  

Woori Financial Group, Inc.

     4,028        25,313  
     

 

 

 
Total South Korea

 

     336,576  
Spain – 1.7%

 

Acciona S.A.

     141        15,061  

ACS Actividades de Construccion y Servicios S.A.

     1,796        35,107  

Aena SME S.A.(b)

     573        62,571  

Banco Bilbao Vizcaya Argentaria S.A.

     13,673        43,740  

Banco Santander S.A.

     32,164        78,278  

Bankia S.A.(a)

     23,931        26,731  

Bankinter S.A.

     5,139        18,856  

Bolsas y Mercados Espanoles SHMSF S.A.

     506        18,355  

CaixaBank S.A.

     29,436        54,908  

Cia de Distribucion Integral Logista Holdings S.A.

     1,124        17,994  

Endesa S.A.

     6,152        131,428  

Iberdrola S.A.

     24,794        244,412  

Mediaset Espana Comunicacion S.A.

     2,515        9,316  

Naturgy Energy Group S.A.

     4,743        83,867  

Prosegur Cash S.A.(b)

     12,961        12,458  

Red Electrica Corp. S.A.

     3,638        65,326  

Repsol S.A.

     9,396        85,901  

Telefonica S.A.

     18,605        85,199  

Zardoya Otis S.A.

     2,600        17,545  
     

 

 

 
Total Spain

 

     1,107,053  
Sweden – 0.5%

 

Intrum AB(a)

     792        10,580  

Lundin Petroleum AB

     1,361        26,168  

Peab AB Class B

     1,673        12,099  

Skandinaviska Enskilda Banken AB Class A

     10,904        73,935  

Svenska Handelsbanken AB Class A

     3,328        27,927  

Swedbank AB Class A

     8,152        91,207  

Telia Co. AB

     22,937        82,648  
     

 

 

 
Total Sweden

 

     324,564  
Switzerland – 1.3%

 

ABB Ltd. Registered Shares

     5,896      103,624  

Adecco Group AG Registered Shares

     459        18,093  

Dufry AG Registered Shares*

     435        13,524  

Kuehne + Nagel International AG Registered Shares

     646        88,699  

LafargeHolcim Ltd. Registered Shares*

     1,457        53,247  

Sunrise Communications Group AG*(b)

     256        20,611  

Swiss Re AG

     1,259        97,019  

Swisscom AG Registered Shares

     191        102,691  

UBS Group AG Registered Shares*

     16,891        157,921  

Zurich Insurance Group AG

     569        201,948  
     

 

 

 
Total Switzerland

 

     857,377  
Taiwan – 2.2%

 

Asia Cement Corp.

     22,000        28,663  

China Steel Corp.

     96,000        60,156  

Chunghwa Telecom Co., Ltd.

     23,000        81,759  

Compal Electronics, Inc.

     72,000        41,188  

CTBC Financial Holding Co., Ltd.

     80,480        47,636  

Delta Electronics, Inc.

     12,000        47,815  

Far Eastern New Century Corp.

     44,000        32,809  

First Financial Holding Co., Ltd.

     75,117        48,809  

Formosa Chemicals & Fibre Corp.

     42,000        93,051  

Formosa Plastics Corp.

     32,000        79,467  

Fubon Financial Holding Co., Ltd.

     18,195        22,592  

Hon Hai Precision Industry Co., Ltd.

     93,000        214,960  

Lite-On Technology Corp.

     17,000        23,216  

Mega Financial Holding Co., Ltd.

     80,941        76,146  

Micro-Star International Co., Ltd.

     5,000        14,665  

Nan Ya Plastics Corp.

     57,000        103,100  

Nanya Technology Corp.

     16,000        28,411  

Novatek Microelectronics Corp.

     6,000        34,125  

Pegatron Corp.

     16,680        31,990  

Pou Chen Corp.

     29,000        24,597  

Powertech Technology, Inc.

     9,000        25,564  

Quanta Computer, Inc.

     29,210        58,147  

SinoPac Financial Holdings Co., Ltd.

     86,559        31,628  

Taiwan Cement Corp.

     53,000        69,226  

Taiwan Mobile Co., Ltd.

     10,800        35,677  

Walsin Technology Corp.

     4,000        21,295  

Wistron Corp.

     27,000        21,874  

Yageo Corp.

     4,000        36,308  

Yuanta Financial Holding Co., Ltd.

     75,000        38,565  
     

 

 

 
Total Taiwan

 

     1,473,439  
Thailand – 0.2%

 

Delta Electronics Thailand PCL NVDR

     8,200        8,496  

Indorama Ventures PCL NVDR

     16,900        11,020  

IRPC PCL NVDR

     264,000        17,215  

Krung Thai Bank PCL NVDR

     30,600        10,630  

Land & Houses PCL NVDR

     82,500        16,843  

PTT Exploration & Production PCL NVDR

     7,800        16,043  

PTT PCL NVDR

     30,200        28,297  

Siam Cement PCL (The) NVDR

     2,200        21,720  

TMB Bank PCL NVDR

     291,200        7,809  
     

 

 

 
Total Thailand

 

     138,073  

 

See Notes to Financial Statements.

 

74   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

 

 

Investments    Shares      Value  
Turkey – 0.1%

 

Ford Otomotiv Sanayi AS

     2,277      $ 17,027  

Iskenderun Demir ve Celik AS

     31,286        29,813  

Turkcell Iletisim Hizmetleri AS

     10,540        19,704  
     

 

 

 
Total Turkey

 

     66,544  
United Kingdom – 6.6%

 

Admiral Group PLC

     1,520        42,029  

Anglo American PLC

     5,726        100,564  

Aviva PLC

     12,238        40,744  

BAE Systems PLC

     13,186        85,314  

Barclays PLC

     56,302        65,700  

Barratt Developments PLC

     8,039        43,959  

Bellway PLC

     524        14,008  

BP PLC

     117,286        500,566  

British American Tobacco PLC

     14,801        506,346  

BT Group PLC

     70,737        103,410  

Carnival PLC

     1,077        13,106  

Centrica PLC

     64,550        30,479  

Cineworld Group PLC

     13,572        8,352  

Close Brothers Group PLC

     1,262        17,714  

DS Smith PLC

     8,514        29,074  

easyJet PLC

     1,802        12,758  

Evraz PLC

     17,816        51,163  

Fiat Chrysler Automobiles N.V.

     6,882        49,627  

GlaxoSmithKline PLC

     20,695        388,658  

Hays PLC

     14,477        20,679  

HSBC Holdings PLC

     78,632        442,893  

IMI PLC

     1,749        16,209  

Imperial Brands PLC

     9,365        173,810  

Inchcape PLC

     2,443        13,122  

Investec PLC

     4,481        8,440  

Jupiter Fund Management PLC

     4,738        11,750  

Land Securities Group PLC

     3,887        26,836  

Legal & General Group PLC

     26,993        64,882  

Lloyds Banking Group PLC

     257,005        101,975  

National Grid PLC

     12,234        143,595  

Persimmon PLC

     3,143        74,689  

Phoenix Group Holdings PLC

     4,748        36,890  

Redrow PLC

     2,118        9,441  

Rio Tinto PLC

     6,703        309,059  

Royal Dutch Shell PLC Class A(a)

     24,390        429,139  

Royal Mail PLC

     6,357        9,869  

RSA Insurance Group PLC

     4,818        25,115  

Schroders PLC

     648        19,959  

Signature Aviation PLC

     2,928        5,990  

SSE PLC

     4,808        77,800  

St. James’s Place PLC

     2,501        23,556  

Standard Life Aberdeen PLC

     2,997        8,320  

Taylor Wimpey PLC

     36,856        53,697  

United Utilities Group PLC

     1,932        21,627  

Vodafone Group PLC

     114,032        159,775  
     

 

 

 
Total United Kingdom

 

     4,392,688  
United States – 55.9%

 

3M Co.

     4,432      605,012  

AbbVie, Inc.

     18,193        1,386,125  

AES Corp.

     4,592        62,451  

Altria Group, Inc.

     29,996        1,159,945  

American Campus Communities, Inc.

     547        15,179  

American Eagle Outfitters, Inc.

     1,674        13,308  

American Electric Power Co., Inc.

     3,413        272,972  

American Financial Group, Inc.

     521        36,512  

Amgen, Inc.

     3,772        764,698  

Antero Midstream Corp.(a)

     11,751        24,677  

Apache Corp.

     4,078        17,046  

Apartment Investment & Management Co. Class A

     785        27,593  

Apollo Global Management, Inc.

     1,481        49,614  

Archer-Daniels-Midland Co.

     4,089        143,851  

Ares Management Corp. Class A

     617        19,084  

Associated Banc-Corp.

     1,431        18,302  

AT&T, Inc.

     82,953        2,418,080  

Avangrid, Inc.

     2,316        101,394  

Avista Corp.

     276        11,727  

Bank OZK

     841        14,045  

Blackstone Group, Inc. (The) Class A

     4,291        195,541  

Boston Properties, Inc.

     652        60,134  

Bristol-Myers Squibb Co.

     11,017        614,088  

Brixmor Property Group, Inc.

     3,489        33,146  

Broadcom, Inc.

     3,198        758,246  

Cabot Corp.

     708        18,493  

Cadence BanCorp

     1,019        6,674  

Camden Property Trust

     488        38,669  

Campbell Soup Co.

     1,810        83,550  

Cardinal Health, Inc.

     2,561        122,774  

CareTrust REIT, Inc.

     534        7,898  

Cathay General Bancorp

     617        14,160  

CenterPoint Energy, Inc.

     4,338        67,022  

CenturyLink, Inc.

     25,274        239,092  

Chemours Co. (The)

     2,862        25,386  

Chevron Corp.

     16,114        1,167,620  

Cisco Systems, Inc.

     26,959        1,059,758  

Citizens Financial Group, Inc.

     2,798        52,630  

CNA Financial Corp.

     2,505        77,755  

Coca-Cola Co. (The)

     26,669        1,180,103  

Cohen & Steers, Inc.

     373        16,953  

Columbia Banking System, Inc.

     335        8,978  

Comerica, Inc.

     1,142        33,506  

Consolidated Edison, Inc.

     2,328        181,584  

CoreSite Realty Corp.

     213        24,687  

Corporate Office Properties Trust

     623        13,787  

Coty, Inc. Class A

     7,701        39,737  

Crown Castle International Corp.

     2,281        329,376  

CubeSmart

     1,219        32,657  

Cullen/Frost Bankers, Inc.(a)

     370        20,642  

Cummins, Inc.

     981        132,749  

CVB Financial Corp.

     792        15,880  

CVR Energy, Inc.

     1,545        25,539  

 

See Notes to Financial Statements.

 

WisdomTree Trust      75  


Table of Contents

Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

 

 

Investments    Shares      Value  

Delek U.S. Holdings, Inc.(a)

     591      $ 9,314  

Digital Realty Trust, Inc.

     1,130        156,968  

Dominion Energy, Inc.

     6,799        490,820  

DTE Energy Co.

     1,159        110,070  

Duke Energy Corp.

     5,918        478,648  

DuPont de Nemours, Inc.

     7,596        259,024  

Eastman Chemical Co.

     1,250        58,225  

Eaton Vance Corp.

     425        13,706  

Edison International

     2,376        130,181  

Emerson Electric Co.

     3,910        186,312  

Entergy Corp.

     1,589        149,318  

EPR Properties

     802        19,424  

Equitrans Midstream Corp.(a)

     5,571        28,022  

Evergy, Inc.

     1,365        75,143  

Exelon Corp.

     6,655        244,971  

Extended Stay America, Inc.

     3,540        25,877  

Extra Space Storage, Inc.

     735        70,384  

Exxon Mobil Corp.

     43,599        1,655,454  

Federal Realty Investment Trust

     394        29,396  

Federated Hermes, Inc. Class B

     732        13,945  

Fifth Third Bancorp

     3,810        56,579  

First American Financial Corp.

     557        23,622  

First Financial Bancorp

     712        10,616  

First Hawaiian, Inc.

     741        12,249  

First Horizon National Corp.

     1,608        12,960  

FirstEnergy Corp.

     3,719        149,020  

Flowers Foods, Inc.

     1,664        34,145  

Fluor Corp.

     1,515        10,469  

FNB Corp.

     3,033        22,353  

Foot Locker, Inc.

     748        16,493  

Franklin Resources, Inc.

     3,002        50,103  

Fulton Financial Corp.

     1,115        12,811  

Gaming and Leisure Properties, Inc.

     2,073        57,443  

Gap, Inc. (The)(a)

     5,120        36,045  

General Mills, Inc.

     4,684        247,175  

General Motors Co.

     12,653        262,929  

Genuine Parts Co.

     989        66,589  

Gilead Sciences, Inc.

     10,524        786,774  

Goodyear Tire & Rubber Co. (The)

     3,063        17,827  

H&R Block, Inc.(a)

     2,136        30,075  

Halliburton Co.

     7,763        53,177  

Hanesbrands, Inc.(a)

     3,381        26,608  

Harley-Davidson, Inc.

     857        16,223  

Healthcare Trust of America, Inc. Class A

     1,878        45,598  

Healthpeak Properties, Inc.

     3,200        76,320  

Helmerich & Payne, Inc.

     2,032        31,801  

Hewlett Packard Enterprise Co.

     9,550        92,731  

Highwoods Properties, Inc.

     754        26,707  

Host Hotels & Resorts, Inc.

     6,311        69,673  

HP, Inc.

     13,033        226,253  

Huntington Bancshares, Inc.

     6,613        54,293  

Ingredion, Inc.

     499        37,675  

International Business Machines Corp.

     8,343        925,489  

International Paper Co.

     4,021        125,174  

Interpublic Group of Cos., Inc. (The)

     4,405      71,317  

Investors Bancorp, Inc.

     2,261        18,065  

Iron Mountain, Inc.(a)

     3,527        83,943  

J.M. Smucker Co. (The)

     835        92,685  

John Wiley & Sons, Inc. Class A

     528        19,795  

Juniper Networks, Inc.

     2,660        50,912  

KAR Auction Services, Inc.

     1,405        16,860  

Kellogg Co.

     2,581        154,834  

Kennedy-Wilson Holdings, Inc.

     1,077        14,453  

KeyCorp

     6,342        65,767  

Kimberly-Clark Corp.

     2,141        273,770  

Kimco Realty Corp.

     3,270        31,621  

Kinder Morgan, Inc.

     20,884        290,705  

Kohl’s Corp.

     1,883        27,473  

Kraft Heinz Co. (The)

     17,501        432,975  

L Brands, Inc.(a)

     4,707        54,413  

Lamar Advertising Co. Class A

     774        39,691  

Las Vegas Sands Corp.

     8,771        372,504  

Legg Mason, Inc.

     701        34,244  

Leggett & Platt, Inc.

     375        10,005  

Macerich Co. (The)(a)

     2,896        16,304  

Macquarie Infrastructure Corp.

     1,739        43,910  

Marathon Petroleum Corp.

     4,865        114,911  

Maxim Integrated Products, Inc.

     1,723        83,755  

Medical Properties Trust, Inc.

     4,203        72,670  

Mercury General Corp.

     276        11,239  

MetLife, Inc.

     5,320        162,632  

Mid-America Apartment Communities, Inc.

     768        79,127  

Molson Coors Beverage Co. Class B

     1,497        58,398  

Morgan Stanley

     7,787        264,758  

MSC Industrial Direct Co., Inc. Class A

     481        26,441  

Murphy Oil Corp.(a)

     2,272        13,927  

National Health Investors, Inc.

     446        22,086  

National Retail Properties, Inc.

     1,140        36,697  

NetApp, Inc.

     2,078        86,632  

New York Community Bancorp, Inc.

     4,515        42,396  

Newell Brands, Inc.

     5,057        67,157  

NorthWestern Corp.

     466        27,881  

Nu Skin Enterprises, Inc. Class A

     527        11,515  

Nucor Corp.

     2,230        80,325  

Occidental Petroleum Corp.

     13,007        150,621  

OGE Energy Corp.

     1,376        42,284  

Old National Bancorp

     836        11,027  

Old Republic International Corp.

     2,499        38,110  

Olin Corp.

     1,924        22,453  

Omega Healthcare Investors, Inc.

     2,323        61,652  

Omnicom Group, Inc.(a)

     1,706        93,659  

ONEOK, Inc.

     4,222        92,082  

Outfront Media, Inc.

     1,563        21,069  

PACCAR, Inc.

     3,426        209,431  

PacWest Bancorp

     1,744        31,252  

Paramount Group, Inc.

     2,381        20,953  

Park Hotels & Resorts, Inc.

     3,684        29,140  

Paychex, Inc.

     2,373        149,309  

 

See Notes to Financial Statements.

 

76   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

 

 

Investments    Shares      Value  

PBF Energy, Inc. Class A

     1,281      $ 9,069  

Pebblebrook Hotel Trust

     801        8,723  

Penske Automotive Group, Inc.(a)

     734        20,552  

People’s United Financial, Inc.

     3,508        38,763  

Pfizer, Inc.

     46,734        1,525,398  

Philip Morris International, Inc.

     19,279        1,406,596  

Phillips 66

     3,017        161,862  

Piedmont Office Realty Trust, Inc. Class A

     1,752        30,940  

Pinnacle West Capital Corp.

     1,016        77,003  

PotlatchDeltic Corp.

     397        12,462  

PPL Corp.

     7,494        184,952  

Principal Financial Group, Inc.

     1,641        51,429  

Progressive Corp. (The)

     3,358        247,955  

Prudential Financial, Inc.

     2,852        148,703  

Public Service Enterprise Group, Inc.

     3,606        161,945  

Public Storage

     881        174,975  

QTS Realty Trust, Inc. Class A(a)

     205        11,892  

QUALCOMM, Inc.

     8,338        564,066  

Rayonier, Inc.

     1,086        25,575  

Realty Income Corp.

     1,991        99,271  

Regency Centers Corp.

     879        33,780  

Regions Financial Corp.

     5,939        53,273  

Ryder System, Inc.

     684        18,085  

Ryman Hospitality Properties, Inc.

     376        13,480  

Sabra Health Care REIT, Inc.

     2,359        25,760  

Santander Consumer USA Holdings, Inc.

     1,538        21,394  

Service Properties Trust

     2,786        15,044  

Simon Property Group, Inc.

     2,675        146,751  

SITE Centers Corp.

     1,499        7,810  

Six Flags Entertainment Corp.

     1,256        15,750  

Sonoco Products Co.

     730        33,836  

South Jersey Industries, Inc.(a)

     852        21,300  

Southern Co. (The)

     8,977        486,015  

Spectrum Brands Holdings, Inc.

     416        15,130  

Spirit Realty Capital, Inc.

     665        17,390  

State Street Corp.

     1,949        103,823  

Steel Dynamics, Inc.

     1,697        38,250  

STORE Capital Corp.

     1,457        26,401  

Synovus Financial Corp.

     891        15,646  

Targa Resources Corp.

     4,659        32,194  

TFS Financial Corp.

     2,237        34,159  

Trinity Industries, Inc.

     1,251        20,104  

Truist Financial Corp.

     6,181        190,622  

Umpqua Holdings Corp.

     2,802        30,542  

United Bankshares, Inc.

     627        14,471  

United Parcel Service, Inc. Class B

     4,830        451,219  

Unum Group

     1,715        25,742  

Urban Edge Properties

     1,006        8,863  

Valero Energy Corp.

     3,531        160,166  

Valley National Bancorp

     3,197        23,370  

Ventas, Inc.

     2,567        68,796  

VEREIT, Inc.

     9,646        47,169  

Verizon Communications, Inc.

     35,254        1,894,197  

VICI Properties, Inc.(a)

     3,368        56,044  

Vornado Realty Trust

     1,092      39,541  

W.P. Carey, Inc.

     1,408        81,777  

Walgreens Boots Alliance, Inc.

     6,587        301,355  

Washington Real Estate Investment Trust

     773        18,452  

Webster Financial Corp.

     575        13,168  

Wells Fargo & Co.

     26,395        757,536  

Welltower, Inc.

     2,582        118,204  

WesBanco, Inc.

     393        9,314  

Western Digital Corp.

     2,140        89,067  

Western Union Co. (The)

     3,609        65,431  

WestRock Co.

     2,867        81,021  

Weyerhaeuser Co.

     5,172        87,665  

Whirlpool Corp.

     597        51,223  

Williams Cos., Inc. (The)

     16,829        238,130  

Wynn Resorts Ltd.

     759        45,684  

Xerox Holdings Corp.

     2,258        42,767  
     

 

 

 
Total United States

 

     37,410,507  

TOTAL COMMON STOCKS

(Cost: $85,681,506)

 

 

     66,296,893  
EXCHANGE-TRADED FUNDS – 0.4%

 

United States – 0.4%

 

WisdomTree International High Dividend Fund(a)(d)

     6,679        196,897  

WisdomTree U.S. High Dividend Fund(a)(d)

     1,205        68,203  

TOTAL EXCHANGE-TRADED FUNDS

(Cost: $231,862)

 

 

     265,100  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 2.7%

 

United States – 2.7%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(e)

     
(Cost: $1,818,703)      1,818,703        1,818,703  

TOTAL INVESTMENTS IN SECURITIES – 102.1%

(Cost: $87,732,071)

 

 

     68,380,696  

Other Assets less Liabilities – (2.1)%

 

     (1,428,844
     

 

 

 
NET ASSETS – 100.0%

 

   $ 66,951,852  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $3,278,847 and the total market value of the collateral held by the Fund was $3,465,249. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $1,646,546.

 

(b) 

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

 

(c) 

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

 

(d) 

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

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

WisdomTree Trust      77  


Table of Contents

Schedule of Investments (concluded)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2020

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree International High Dividend Fund

  $ 37,976     $ 1,267,334     $ 1,108,872     $ (22,582   $ 23,041     $ 196,897     $ 13,611  

WisdomTree U.S. High Dividend Fund

    12,755       418,977       366,107       (6,539     9,117       68,203       1,918  
Total   $ 50,731     $ 1,686,311     $ 1,474,979     $ (29,121   $ 32,158     $ 265,100     $ 15,529  

 

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

Morgan Stanley & Co. International

    4/1/2020       550       EUR       6,092       SEK     $     $ (11

Morgan Stanley & Co. International

    4/1/2020       168,900       HKD       218,386       SEK             (251

Morgan Stanley & Co. International

    4/1/2020       1,064,800       JPY       98,950       SEK             (124

Morgan Stanley & Co. International

    4/1/2020       25,007       USD       618,000       CZK       256        

Morgan Stanley & Co. International

    4/1/2020       168,100       ZAR       94,064       SEK             (82
                                            $ 256     $ (468

 

See Notes to Financial Statements.

 

78   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.4%

 

India – 99.4%

 

Aerospace & Defense – 0.2%

 

Bharat Electronics Ltd.

     1,129,454      $ 1,111,520  
Airlines – 0.0%

 

InterGlobe Aviation Ltd.(a)

     12,234        172,413  
Auto Components – 0.9%

 

Apollo Tyres Ltd.

     457,368        480,032  

Balkrishna Industries Ltd.

     117,304        1,227,524  

Bharat Forge Ltd.

     287,376        892,503  

Ceat Ltd.

     28,272        296,337  

Endurance Technologies Ltd.(a)

     21,386        169,926  

Exide Industries Ltd.

     296,583        515,924  

Mahindra CIE Automotive Ltd.*

     271,070        246,342  

Minda Industries Ltd.

     47,511        150,978  

Motherson Sumi Systems Ltd.

     1,312,911        1,059,510  

Sundram Fasteners Ltd.

     45,599        176,305  

Varroc Engineering Ltd.(a)

     49,447        83,434  
     

 

 

 
Total Auto Components

 

     5,298,815  
Automobiles – 4.1%

 

Bajaj Auto Ltd.

     111,293        2,975,145  

Eicher Motors Ltd.

     18,416        3,187,972  

Hero MotoCorp., Ltd.

     170,196        3,591,605  

Mahindra & Mahindra Ltd.

     1,347,714        5,076,335  

Maruti Suzuki India Ltd.

     134,392        7,618,026  

TVS Motor Co., Ltd.

     99,979        393,236  
     

 

 

 
Total Automobiles

 

     22,842,319  
Banks – 5.9%

 

AU Small Finance Bank Ltd.(a)

     22,118        147,748  

Axis Bank Ltd.

     1,403,319        7,030,391  

Bandhan Bank Ltd.(a)

     154,641        416,492  

Bank of Baroda*

     651,958        461,491  

Canara Bank*

     186,558        223,175  

City Union Bank Ltd.

     421,467        718,961  

DCB Bank Ltd.

     280,700        351,750  

Federal Bank Ltd.

     3,042,376        1,650,859  

ICICI Bank Ltd.

     1,477,232        6,321,824  

Indian Bank*

     161,734        92,143  

IndusInd Bank Ltd.

     469,960        2,182,343  

Jammu & Kashmir Bank Ltd. (The)*

     1,004,078        165,242  

Karnataka Bank Ltd. (The)

     799,151        444,200  

Karur Vysya Bank Ltd. (The)

     285,071        76,118  

Kotak Mahindra Bank Ltd.

     585,093        10,023,758  

RBL Bank Ltd.(a)

     157,612        282,301  

South Indian Bank Ltd. (The)

     2,481,717        186,987  

State Bank of India*

     408,806        1,063,743  

Yes Bank Ltd.(b)

     4,954,888        1,470,395  
     

 

 

 
Total Banks

 

     33,309,921  
Beverages – 0.2%

 

Radico Khaitan Ltd.

     65,838        233,410  

United Breweries Ltd.

     20,787        252,476  

United Spirits Ltd.*

     110,812        709,829  

Varun Beverages Ltd.

     22,505        157,503  
     

 

 

 
Total Beverages

 

     1,353,218  
Biotechnology – 0.2%

 

Biocon Ltd.

     238,575      $ 853,211  
Building Products – 0.1%

 

Astral Poly Technik Ltd.

     7,475        92,569  

Blue Star Ltd.

     20,611        125,176  

Kajaria Ceramics Ltd.

     39,147        194,490  
     

 

 

 
Total Building Products

 

     412,235  
Capital Markets – 0.5%

 

Care Ratings Ltd.

     28,689        124,140  

Edelweiss Financial Services Ltd.

     1,292,334        655,979  

HDFC Asset Management Co., Ltd.(a)

     16,396        457,910  

ICICI Securities Ltd.(a)

     119,337        436,089  

Indiabulls Ventures Ltd.

     316,185        450,133  

JM Financial Ltd.

     441,106        377,543  

Motilal Oswal Financial Services Ltd.

     21,657        142,293  

Multi Commodity Exchange of India Ltd.

     17,187        255,415  
     

 

 

 
Total Capital Markets

 

     2,899,502  
Chemicals – 2.6%

 

Aarti Industries Ltd.

     26,472        268,302  

Aarti Surfactants Ltd.

     2,094        5,880  

Asian Paints Ltd.

     143,712        3,165,791  

Berger Paints India Ltd.

     130,281        857,533  

Castrol India Ltd.

     367,225        482,749  

Chambal Fertilizers and Chemicals Ltd.

     452,685        648,948  

Coromandel International Ltd.

     128,000        924,157  

DCM Shriram Ltd.

     131,697        374,630  

Deepak Nitrite Ltd.

     31,563        160,649  

EID Parry India Ltd.

     27,822        51,138  

Finolex Industries Ltd.

     37,197        193,111  

GHCL Ltd.

     118,490        139,633  

Gujarat Narmada Valley Fertilizers & Chemicals Ltd.

     317,324        481,116  

Gujarat State Fertilizers & Chemicals Ltd.

     364,415        176,063  

Himadri Speciality Chemical Ltd.

     318,044        123,810  

Kansai Nerolac Paints Ltd.

     92,500        473,741  

Navin Fluorine International Ltd.

     5,674        91,626  

NOCIL Ltd.

     67,700        58,884  

Phillips Carbon Black Ltd.

     258,974        214,639  

PI Industries Ltd.

     46,196        714,484  

Pidilite Industries Ltd.

     66,244        1,187,731  

Rain Industries Ltd.

     433,922        320,346  

Rashtriya Chemicals & Fertilizers Ltd.

     69,749        26,138  

SRF Ltd.

     13,660        502,568  

Supreme Industries Ltd.

     22,573        258,906  

Tata Chemicals Ltd.

     124,928        369,163  

UPL Ltd.

     543,581        2,346,018  

Vinati Organics Ltd.

     11,980        122,656  
     

 

 

 
Total Chemicals

 

     14,740,410  
Communications Equipment – 0.0%

 

Sterlite Technologies Ltd.

     303,450        255,913  

 

See Notes to Financial Statements.

 

WisdomTree Trust      79  


Table of Contents

Schedule of Investments (continued)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2020

 

 

 

Investments    Shares      Value  
Construction & Engineering – 1.5%

 

Dilip Buildcon Ltd.(a)

     87,449      $ 243,963  

Engineers India Ltd.

     170,972        135,713  

IRB Infrastructure Developers Ltd.*

     1,382,213        972,923  

Kalpataru Power Transmission Ltd.

     94,383        227,875  

KEC International Ltd.

     137,699        337,644  

KNR Constructions Ltd.

     116,323        302,143  

Larsen & Toubro Ltd.

     435,374        4,652,929  

NBCC India Ltd.

     490,318        105,645  

NCC Ltd.

     2,199,734        545,199  

Voltas Ltd.

     158,202        997,294  
     

 

 

 
Total Construction & Engineering

 

     8,521,328  
Construction Materials – 1.7%

 

ACC Ltd.

     57,135        731,452  

Ambuja Cements Ltd.

     1,059,676        2,180,949  

Birla Corp., Ltd.

     34,943        191,710  

Dalmia Bharat Ltd.*

     21,832        141,581  

Grasim Industries Ltd.

     335,114        2,108,991  

HeidelbergCement India Ltd.

     68,490        128,422  

JK Cement Ltd.

     22,704        280,772  

Ramco Cements Ltd. (The)

     86,265        584,802  

Shree Cement Ltd.

     2,339        542,501  

UltraTech Cement Ltd.

     65,848        2,824,367  
     

 

 

 
Total Construction Materials

 

     9,715,547  
Consumer Finance – 2.4%

 

Bajaj Finance Ltd.

     112,209        3,286,564  

Cholamandalam Investment and Finance Co., Ltd.

     258,302        521,888  

CreditAccess Grameen Ltd.*

     14,223        63,424  

Equitas Holdings Ltd.*

     84,230        47,486  

Mahindra & Mahindra Financial Services Ltd.

     693,398        1,349,194  

Manappuram Finance Ltd.

     1,222,854        1,531,573  

Muthoot Finance Ltd.

     237,291        1,923,233  

Repco Home Finance Ltd.

     120,528        186,963  

Shriram Transport Finance Co., Ltd.

     420,950        3,676,088  

Sundaram Finance Ltd.

     36,021        572,922  

TI Financial Holdings Ltd.*

     90,165        345,637  

Ujjivan Financial Services Ltd.

     53,560        105,100  
     

 

 

 
Total Consumer Finance

 

     13,610,072  
Diversified Financial Services – 2.5%

 

Aditya Birla Capital Ltd.*

     546,843        304,680  

Bajaj Holdings & Investment Ltd.

     57,027        1,355,773  

Housing & Urban Development Corp. Ltd.

     788,553        208,471  

L&T Finance Holdings Ltd.

     1,590,886        1,078,798  

Power Finance Corp., Ltd.

     5,755,932        6,996,024  

REC Ltd.

     3,669,593        4,304,970  
     

 

 

 
Total Diversified Financial Services

 

     14,248,716  
Diversified Telecommunication Services – 0.5%

 

Bharti Infratel Ltd.

     1,244,999        2,633,134  

HFCL Ltd.

     1,665,106        199,193  
     

 

 

 
Total Diversified Telecommunication Services

 

     2,832,327  
Electric Utilities – 2.3%

 

Adani Transmission Ltd.*

     244,099      609,995  

CESC Ltd.

     192,278        1,038,386  

Power Grid Corp. of India Ltd.

     4,171,615        8,773,205  

SJVN Ltd.

     1,391,838        381,760  

Tata Power Co., Ltd. (The)

     3,292,559        1,429,726  

Torrent Power Ltd.

     259,505        957,220  
     

 

 

 
Total Electric Utilities

 

     13,190,292  
Electrical Equipment – 0.5%

 

ABB India Ltd.

     26,808        331,471  

ABB Power Products and Systems India Ltd.*

     6,474        64,161  

Amara Raja Batteries Ltd.

     40,144        253,675  

Bharat Heavy Electricals Ltd.

     1,439,103        395,676  

Finolex Cables Ltd.

     54,674        147,252  

Havells India Ltd.

     189,969        1,206,465  

KEI Industries Ltd.

     46,507        164,970  

V-Guard Industries Ltd.

     38,291        78,529  
     

 

 

 
Total Electrical Equipment

 

     2,642,199  
Electronic Equipment, Instruments & Components – 0.1%

 

Redington India Ltd.

     893,817        810,507  
Entertainment – 0.1%

 

Inox Leisure Ltd.

     86,233        299,445  

PVR Ltd.

     12,057        188,670  
     

 

 

 
Total Entertainment

 

     488,115  
Food & Staples Retailing – 0.1%

 

Avenue Supermarts Ltd.*(a)

     24,208        699,988  
Food Products – 1.4%

 

Avanti Feeds Ltd.

     37,140        144,458  

Balrampur Chini Mills Ltd.

     641,669        882,545  

Bombay Burmah Trading Co.

     62,647        606,585  

Britannia Industries Ltd.

     36,519        1,298,032  

Godrej Agrovet Ltd.(a)

     21,533        104,675  

Kaveri Seed Co., Ltd.

     60,340        272,702  

KRBL Ltd.

     176,261        314,073  

Nestle India Ltd.

     13,013        2,803,916  

Tata Consumer Products Ltd.

     307,599        1,198,863  

Venky’s India Ltd.

     6,437        71,874  
     

 

 

 
Total Food Products

 

     7,697,723  
Gas Utilities – 1.3%

 

Adani Gas Ltd.

     263,182        300,402  

GAIL India Ltd.

     3,422,159        3,462,815  

Gujarat Gas Ltd.

     137,194        418,648  

Gujarat State Petronet Ltd.

     477,964        1,089,538  

Indraprastha Gas Ltd.

     339,703        1,742,043  

Mahanagar Gas Ltd.

     38,457        416,055  
     

 

 

 
Total Gas Utilities

 

     7,429,501  
Health Care Providers & Services – 0.1%

 

Apollo Hospitals Enterprise Ltd.

     21,968        330,763  

Dr. Lal PathLabs Ltd.(a)

     8,702        161,235  
     

 

 

 
Total Health Care Providers & Services

 

     491,998  

 

See Notes to Financial Statements.

 

80   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2020

 

 

 

Investments    Shares      Value  
Health Care Technology – 0.0%

 

TAKE Solutions Ltd.

     89,180      $ 46,741  
Hotels, Restaurants & Leisure – 0.2%

 

Coffee Day Enterprises Ltd.*(a)

     83,101        25,814  

Delta Corp., Ltd.

     74,185        64,084  

EIH Ltd.

     39,597        34,441  

Indian Hotels Co., Ltd. (The)

     181,762        180,197  

Jubilant Foodworks Ltd.

     31,572        614,089  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     918,625  
Household Durables – 0.3%

 

Bajaj Electricals Ltd.

     13,507        47,930  

Crompton Greaves Consumer Electricals Ltd.

     295,825        816,487  

Whirlpool of India Ltd.

     31,776        763,997  
     

 

 

 
Total Household Durables

 

     1,628,414  
Household Products – 1.9%

 

Hindustan Unilever Ltd.

     358,078        10,879,428  

Jyothy Labs Ltd.

     55,114        67,170  
     

 

 

 
Total Household Products

 

     10,946,598  
Independent Power & Renewable Electricity Producers – 1.8%

 

JSW Energy Ltd.

     501,837        283,253  

NHPC Ltd.

     4,588,012        1,209,905  

NLC India Ltd.

     731,997        424,774  

NTPC Ltd.

     6,936,523        7,720,365  

PTC India Ltd.

     975,935        499,892  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     10,138,189  
Industrial Conglomerates – 0.2%

 

Godrej Industries Ltd.

     93,656        350,539  

Siemens Ltd.

     66,271        975,346  
     

 

 

 
Total Industrial Conglomerates

 

     1,325,885  
Insurance – 1.0%

 

Bajaj Finserv Ltd.

     37,491        2,275,292  

General Insurance Corp. of India(a)

     252,352        350,919  

HDFC Life Insurance Co., Ltd.(a)

     102,793        599,695  

ICICI Lombard General Insurance Co., Ltd.(a)

     41,290        590,358  

ICICI Prudential Life Insurance Co., Ltd.(a)

     161,623        759,925  

Max Financial Services Ltd.*

     71,783        364,934  

SBI Life Insurance Co., Ltd.(a)

     51,439        435,848  
     

 

 

 
Total Insurance

 

     5,376,971  
Interactive Media & Services – 0.2%

 

Info Edge India Ltd.

     42,167        1,134,310  

Just Dial Ltd.*

     37,367        144,946  
Total Interactive Media & Services

 

     1,279,256  
Internet & Direct Marketing Retail – 0.0%

 

Infibeam Avenues Ltd.

     213,898        96,274  
IT Services – 16.7%

 

Firstsource Solutions Ltd.

     511,192        185,486  

HCL Technologies Ltd.

     2,115,011        12,200,602  

Hexaware Technologies Ltd.

     173,855        520,982  

Infosys Ltd.

     4,580,832        38,844,087  

Larsen & Toubro Infotech Ltd.(a)

     44,163        834,121  

Mindtree Ltd.

     204,967      2,245,252  

Mphasis Ltd.

     139,399        1,224,351  

NIIT Ltd.

     120,943        131,412  

NIIT Technologies Ltd.

     57,916        878,678  

Persistent Systems Ltd.

     65,904        479,963  

Sonata Software Ltd.

     32,315        70,139  

Tata Consultancy Services Ltd.

     994,701        24,010,489  

Tech Mahindra Ltd.

     807,148        6,033,505  

Wipro Ltd.

     2,443,513        6,353,352  
     

 

 

 
Total IT Services

 

     94,012,419  
Life Sciences Tools & Services – 0.4%

 

Dishman Carbogen Amcis Ltd.

     53,871        37,990  

Divi’s Laboratories Ltd.

     73,339        1,928,256  

Syngene International Ltd.(a)

     58,808        186,682  
     

 

 

 
Total Life Sciences Tools & Services

 

     2,152,928  
Machinery – 0.9%

 

AIA Engineering Ltd.

     52,715        970,839  

Ashok Leyland Ltd.

     3,821,824        2,174,842  

Carborundum Universal Ltd.

     42,070        123,455  

Cochin Shipyard Ltd.(a)

     73,779        259,759  

Cummins India Ltd.

     74,304        320,882  

Escorts Ltd.

     119,401        1,045,787  

Greaves Cotton Ltd.*

     58,102        53,416  

Thermax Ltd.

     19,159        187,522  
     

 

 

 
Total Machinery

 

     5,136,502  
Media – 0.4%

 

Sun TV Network Ltd.

     194,246        734,220  

TV18 Broadcast Ltd.*

     1,018,177        209,957  

Zee Entertainment Enterprises Ltd.

     717,634        1,175,800  
     

 

 

 
Total Media

 

     2,119,977  
Metals & Mining – 5.7%

 

APL Apollo Tubes Ltd.

     3,381        55,715  

Hindalco Industries Ltd.

     3,083,242        3,900,349  

Hindustan Copper Ltd.

     121,142        34,108  

Hindustan Zinc Ltd.*

     660,090        1,355,933  

Jindal Saw Ltd.

     780,079        472,267  

JSW Steel Ltd.

     4,018,600        7,768,811  

National Aluminium Co., Ltd.

     2,753,208        1,059,049  

NMDC Ltd.

     3,631,771        3,840,540  

Steel Authority of India Ltd.

     5,122,125        1,560,648  

Tata Sponge Iron Ltd.

     5,972        14,809  

Tata Steel Ltd.

     1,945,268        6,932,394  

Vedanta Ltd.

     6,000,908        5,132,219  
     

 

 

 
Total Metals & Mining

 

     32,126,842  
Multiline Retail – 0.0%

 

Future Retail Ltd.*

     199,085        206,055  
Oil, Gas & Consumable Fuels – 21.1%

 

Aegis Logistics Ltd.

     104,148        191,979  

Bharat Petroleum Corp., Ltd.

     1,934,734        8,104,522  

Coal India Ltd.

     5,515,565        10,210,735  

Hindustan Petroleum Corp., Ltd.

     2,776,448        6,976,788  

 

See Notes to Financial Statements.

 

WisdomTree Trust      81  


Table of Contents

Schedule of Investments (continued)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2020

 

 

 

Investments    Shares      Value  

Indian Oil Corp., Ltd.

     8,370,624      $ 9,034,371  

Mangalore Refinery & Petrochemicals Ltd.

     90,425        27,671  

Oil & Natural Gas Corp., Ltd.

     14,814,372        13,374,817  

Oil India Ltd.

     1,492,396        1,630,463  

Petronet LNG Ltd.

     1,008,695        2,662,697  

Reliance Industries Ltd.

     4,519,010        66,529,600  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     118,743,643  
Paper & Forest Products – 0.1%

 

Century Plyboards India Ltd.

     27,627        40,518  

Century Textiles & Industries Ltd.

     38,516        150,752  

JK Paper Ltd.

     262,409        258,415  
     

 

 

 
Total Paper & Forest Products

 

     449,685  
Personal Products – 1.2%

 

Bajaj Consumer Care, Ltd.*

     64,832        113,508  

Colgate-Palmolive India Ltd.

     53,999        894,163  

Dabur India Ltd.

     352,441        2,096,675  

Emami Ltd.

     14,082        31,635  

Godrej Consumer Products Ltd.

     368,681        2,538,325  

Marico Ltd.

     320,242        1,163,477  
     

 

 

 
Total Personal Products

 

     6,837,783  
Pharmaceuticals – 4.3%

 

Ajanta Pharma Ltd.

     22,514        406,614  

Alembic Pharmaceuticals Ltd.

     48,008        339,033  

Alkem Laboratories Ltd.

     23,383        718,896  

Aurobindo Pharma Ltd.

     508,416        2,776,584  

Cadila Healthcare Ltd.

     547,908        1,935,572  

Cipla Ltd.

     364,778        2,038,914  

Dr. Reddy’s Laboratories Ltd.

     91,277        3,765,340  

GlaxoSmithKline Pharmaceuticals Ltd.

     18,115        301,090  

Glenmark Pharmaceuticals Ltd.

     372,795        1,014,390  

Granules India Ltd.

     344,708        654,547  

Ipca Laboratories Ltd.

     29,985        551,830  

JB Chemicals & Pharmaceuticals Ltd.

     21,621        145,471  

Jubilant Life Sciences Ltd.

     153,379        505,240  

Lupin Ltd.

     103,105        803,633  

Merck Ltd.

     11,807        567,008  

Natco Pharma Ltd.

     133,025        888,958  

Piramal Enterprises Ltd.

     102,271        1,270,086  

Strides Pharma Science Ltd.

     99,620        424,217  

Sun Pharmaceutical Industries Ltd.

     785,456        3,657,787  

Suven Life Sciences Ltd.*

     74,816        21,164  

Suven Pharmaceuticals Ltd. *

     82,833        220,136  

Torrent Pharmaceuticals Ltd.

     36,890        961,513  
     

 

 

 
Total Pharmaceuticals

 

     23,968,023  
Professional Services – 0.1%

 

L&T Technology Services Ltd.(a)

     13,157        201,960  

Quess Corp., Ltd.*(a)

     27,008        76,096  
     

 

 

 
Total Professional Services

 

     278,056  
Real Estate Management & Development – 0.5%

 

DLF Ltd.

     481,415        874,678  

Godrej Properties Ltd.*

     30,997        247,173  

Indiabulls Real Estate Ltd.*

     1,101,851        594,975  

Oberoi Realty Ltd.

     95,481      418,709  

Phoenix Mills Ltd. (The)

     52,433        395,268  

Prestige Estates Projects Ltd.

     129,333        287,554  

Sobha Ltd.

     82,443        145,867  

Sunteck Realty Ltd.

     27,965        77,646  
     

 

 

 
Total Real Estate Management & Development

 

     3,041,870  
Road & Rail – 0.2%

 

Container Corp. of India Ltd.

     220,780        967,885  
Software – 0.3%

 

Birlasoft Ltd.

     739,915        596,617  

Oracle Financial Services Software Ltd.*

     32,898        880,013  

Tata Elxsi Ltd.

     17,253        143,472  
     

 

 

 
Total Software

 

     1,620,102  
Specialty Retail – 0.0%

 

Future Lifestyle Fashions Ltd.

     19,710        30,730  
Textiles, Apparel & Luxury Goods – 1.0%

 

Aditya Birla Fashion and Retail Ltd.*

     84,846        171,484  

Bata India Ltd.

     12,444        202,506  

LUX Industries Ltd.

     7,316        91,383  

Page Industries Ltd.

     2,664        597,356  

Rajesh Exports Ltd.

     242,173        1,753,124  

Raymond Ltd.

     12,753        37,559  

Relaxo Footwears Ltd.

     17,614        139,454  

Titan Co., Ltd.

     158,936        1,961,614  

Trident Ltd.

     4,458,730        250,486  

VIP Industries Ltd.

     19,743        62,673  

Welspun India Ltd.

     262,747        75,020  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     5,342,659  
Thrifts & Mortgage Finance – 9.2%

 

Can Fin Homes Ltd.

     72,723        268,249  

Housing Development Finance Corp., Ltd.

     2,131,418        46,011,384  

Indiabulls Housing Finance Ltd.

     1,973,316        2,523,664  

LIC Housing Finance Ltd.

     791,816        2,462,805  

PNB Housing Finance Ltd.(a)

     126,411        270,948  
     

 

 

 
Total Thrifts & Mortgage Finance

 

     51,537,050  
Tobacco – 1.5%

 

Godfrey Phillips India Ltd.

     15,012        186,630  

ITC Ltd.

     3,511,130        7,968,950  
     

 

 

 
Total Tobacco

 

     8,155,580  
Trading Companies & Distributors – 0.2%

 

Adani Enterprises Ltd.

     468,257        851,700  
Transportation Infrastructure – 0.7%

 

Adani Ports & Special Economic Zone Ltd.

     1,226,221        4,073,288  
Water Utilities – 0.0%

 

VA Tech Wabag Ltd.*

     28,878        31,435  
Wireless Telecommunication Services – 0.1%

 

Bharti Airtel Ltd.*

     117,758        686,301  

TOTAL COMMON STOCKS

(Cost: $586,447,038)

 

 

     559,755,256  

 

See Notes to Financial Statements.

 

82   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2020

 

 

 

Investments    Shares      Value  
EXCHANGE-TRADED FUND – 0.0%

 

United States – 0.0%

 

WisdomTree India ex-State-Owned Enterprises Fund*(c)

     
(Cost: $26,901)      1,100      $ 19,463  

TOTAL INVESTMENTS IN SECURITIES – 99.4%

(Cost: $586,473,939)

 

 

     559,774,719  

Other Assets less Liabilities – 0.6%

 

     3,542,628  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 563,317,347  
* 

Non-income producing security.

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $5,880, which represents 0.0% of net assets.

 

(a) 

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

 

(b) 

Restricted securities. At March 31, 2020, the value of such securities held by the Fund are as follows:

 

Investment   Restricted
Shares
    Acquisition
Date
    Acquisition
Cost
    Value     Value as a
Percentage of
Net Assets
 

India - Banks

 

     

Yes Bank Ltd.

    3,906,791      
9/18/15 -
3/13/20
 
 
  $ 5,049,681     $ 1,159,365       0.2

 

(c) 

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

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate

  Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree India ex-State-Owned Enterprises Fund

  $     $ 26,901     $     $     $ (7,438   $ 19,463     $  

 

See Notes to Financial Statements.

 

WisdomTree Trust      83  


Table of Contents

Schedule of Investments

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 100.0%

 

India – 100.0%

 

Airlines – 0.4%

 

InterGlobe Aviation Ltd.(a)

     264      $ 3,721  
Auto Components – 0.4%

 

Bharat Forge Ltd.

     527        1,637  

Motherson Sumi Systems Ltd.

     2,746        2,216  
     

 

 

 
Total Auto Components

 

     3,853  
Automobiles – 4.9%

 

Bajaj Auto Ltd.

     187        4,999  

Eicher Motors Ltd.

     35        6,059  

Hero MotoCorp., Ltd.

     270        5,698  

Mahindra & Mahindra Ltd.

     1,577        5,940  

Maruti Suzuki India Ltd.

     321        18,196  

Tata Motors Ltd.*

     2,594        2,436  
     

 

 

 
Total Automobiles

 

     43,328  
Banks – 10.0%

 

Bandhan Bank Ltd.(a)

     480        1,293  

Federal Bank Ltd.

     4,148        2,251  

ICICI Bank Ltd.

     8,430        36,076  

IDFC Bank Ltd.*

     5,991        1,671  

IndusInd Bank Ltd.

     1,536        7,132  

Kotak Mahindra Bank Ltd.

     2,236        38,307  

Yes Bank Ltd.(b)

     5,092        1,511  
     

 

 

 
Total Banks

 

     88,241  
Beverages – 0.9%

 

United Breweries Ltd.

     194        2,356  

United Spirits Ltd.*

     823        5,272  
     

 

 

 
Total Beverages

 

     7,628  
Capital Markets – 0.2%

 

HDFC Asset Management Co., Ltd.(a)

     75        2,095  
Chemicals – 4.0%

 

Asian Paints Ltd.

     745        16,411  

Berger Paints India Ltd.

     563        3,706  

PI Industries Ltd.

     144        2,227  

Pidilite Industries Ltd.

     345        6,186  

UPL Ltd.

     1,488        6,422  
     

 

 

 
Total Chemicals

 

     34,952  
Construction Materials – 3.5%

 

ACC Ltd.

     133        1,703  

Ambuja Cements Ltd.

     2,099        4,320  

Grasim Industries Ltd.

     903        5,683  

Shree Cement Ltd.

     23        5,335  

UltraTech Cement Ltd.

     312        13,382  
     

 

 

 
Total Construction Materials

 

     30,423  
Consumer Finance – 2.2%

 

Bajaj Finance Ltd.

     468        13,707  

Mahindra & Mahindra Financial Services Ltd.

     799        1,555  

Shriram Transport Finance Co., Ltd.

     449        3,921  
     

 

 

 
Total Consumer Finance

 

     19,183  
Diversified Financial Services – 0.2%

 

Bajaj Holdings & Investment Ltd.

     72      $ 1,712  
Diversified Telecommunication Services – 0.5%

 

Bharti Infratel Ltd.

     2,254        4,767  
Electrical Equipment – 0.7%

 

ABB India Ltd.

     138        1,706  

ABB Power Products and Systems India Ltd.*

     27        267  

Havells India Ltd.

     720        4,573  
     

 

 

 
Total Electrical Equipment

 

     6,546  
Equity Real Estate Investment Trusts (REITs) – 0.2%

 

Embassy Office Parks REIT*

     400        1,854  
Food & Staples Retailing – 0.9%

 

Avenue Supermarts Ltd.*(a)

     284        8,212  
Food Products – 2.1%

 

Britannia Industries Ltd.

     146        5,190  

Nestle India Ltd.

     60        12,928  
     

 

 

 
Total Food Products

 

     18,118  
Health Care Providers & Services – 0.4%

 

Apollo Hospitals Enterprise Ltd.

     231        3,478  
Hotels, Restaurants & Leisure – 0.6%

 

Indian Hotels Co., Ltd. (The)

     1,335        1,324  

Jubilant Foodworks Ltd.

     198        3,851  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     5,175  
Household Durables – 0.3%

 

Crompton Greaves Consumer Electricals Ltd.

     1,073        2,962  
Household Products – 6.4%

 

Hindustan Unilever Ltd.

     1,864        56,634  
Industrial Conglomerates – 0.4%

 

Siemens Ltd.

     218        3,208  
Insurance – 2.5%

 

Bajaj Finserv Ltd.

     105        6,372  

HDFC Life Insurance Co., Ltd.(a)

     1,301        7,590  

ICICI Lombard General Insurance Co., Ltd.(a)

     241        3,446  

ICICI Prudential Life Insurance Co., Ltd.(a)

     961        4,519  
     

 

 

 
Total Insurance

 

     21,927  
Interactive Media & Services – 0.4%

 

Info Edge India Ltd.

     144        3,874  
IT Services – 20.6%

 

HCL Technologies Ltd.

     2,864        16,521  

Infosys Ltd.

     9,765        82,804  

Mphasis Ltd.

     258        2,266  

Tata Consultancy Services Ltd.

     2,519        60,805  

Tech Mahindra Ltd.

     1,203        8,992  

Wipro Ltd.

     3,844        9,995  
     

 

 

 
Total IT Services

 

     181,383  
Life Sciences Tools & Services – 0.6%

 

Divi’s Laboratories Ltd.

     208        5,469  

 

See Notes to Financial Statements.

 

84   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

March 31, 2020

 

 

 

Investments    Shares      Value  
Machinery – 0.2%

 

Ashok Leyland Ltd.

     3,107      $ 1,768  
Media – 0.3%

 

Zee Entertainment Enterprises Ltd.

     1,783        2,921  
Metals & Mining – 1.7%

 

Hindalco Industries Ltd.

     2,432        3,076  

JSW Steel Ltd.

     2,851        5,512  

Tata Steel Ltd.

     761        2,712  

Vedanta Ltd.

     4,648        3,975  
     

 

 

 
Total Metals & Mining

 

     15,275  
Multiline Retail – 0.1%

 

Future Retail Ltd.*

     611        632  
Oil, Gas & Consumable Fuels – 10.3%

 

Reliance Industries Ltd.

     6,195        91,204  
Personal Products – 2.6%

 

Colgate-Palmolive India Ltd.

     174        2,881  

Dabur India Ltd.

     1,406        8,364  

Godrej Consumer Products Ltd.

     994        6,844  

Marico Ltd.

     1,231        4,472  
     

 

 

 
Total Personal Products

 

     22,561  
Pharmaceuticals – 4.6%

 

Aurobindo Pharma Ltd.

     967        5,281  

Cipla Ltd.

     822        4,595  

Dr. Reddy’s Laboratories Ltd.

     219        9,034  

Lupin Ltd.

     598        4,661  

Piramal Enterprises Ltd.

     309        3,837  

Sun Pharmaceutical Industries Ltd.

     2,888        13,449  
     

 

 

 
Total Pharmaceuticals

 

     40,857  
Real Estate Management & Development – 0.4%

 

DLF Ltd.

     1,685        3,061  
Textiles, Apparel & Luxury Goods – 1.9%

 

Page Industries Ltd.

     16        3,588  

Rajesh Exports Ltd.

     357        2,584  

Titan Co., Ltd.

     843        10,405  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     16,577  
Thrifts & Mortgage Finance – 10.4%

 

Housing Development Finance Corp., Ltd.

     4,179        90,213  

Indiabulls Housing Finance Ltd.

     979        1,252  
     

 

 

 
Total Thrifts & Mortgage Finance

 

     91,465  
Transportation Infrastructure – 0.8%

 

Adani Ports & Special Economic Zone Ltd.

     2,079        6,906  
Wireless Telecommunication Services – 3.4%

 

Bharti Airtel Ltd.*

     5,109      $ 29,776  

TOTAL INVESTMENTS IN SECURITIES – 100.0%

(Cost: $1,236,694)

 

 

     881,746  

Other Assets less Liabilities – 0.0%

 

     116  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 881,862  

 

* 

Non-income producing security.

 

(a) 

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

 

(b) 

Restricted securities. At March 31, 2020, the value of such securities held by the Fund are as follows:

 

Investment   Restricted
Shares
   

Acquisition

Date

    Acquisition
Cost
    Value     Value as a
Percentage of
Net Assets
 

India - Banks

 

     

Yes Bank Ltd.

    3,819       4/2/19 - 10/18/19     $ 12,559     $ 1,133       0.1

 

See Notes to Financial Statements.

 

WisdomTree Trust      85  


Table of Contents

Schedule of Investments

WisdomTree Middle East Dividend Fund (GULF)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.3%

 

Bahrain – 3.1%

 

Ahli United Bank BSC

     517,585      $ 346,782  

Bahrain Telecommunications Co. BSC

     46,158        44,071  

GFH Financial Group BSC

     245,299        35,323  
     

 

 

 
Total Bahrain

 

     426,176  
Egypt – 2.6%

 

Commercial International Bank Egypt SAE

     34,250        127,883  

Credit Agricole Egypt SAE

     22,236        41,689  

Eastern Co. SAE

     99,869        78,360  

Egyptian Financial Group-Hermes Holding Co.

     38,683        20,374  

ElSewedy Electric Co.

     61,158        30,462  

Heliopolis Housing

     15,504        3,339  

Orascom Construction PLC

     5,566        22,982  

Oriental Weavers

     45,858        15,674  

Sidi Kerir Petrochemicals Co.

     22,186        7,781  

Talaat Moustafa Group

     27,011        8,563  

Telecom Egypt Co.

     12,297        8,203  
     

 

 

 
Total Egypt

 

     365,310  
Jordan – 3.6%

 

Arab Bank PLC

     67,536        459,465  

Jordan Petroleum Refinery Co.

     10,061        41,853  
     

 

 

 
Total Jordan

 

     501,318  
Kuwait – 15.5%

 

Agility Public Warehousing Co. KSC

     31,792        57,794  

Ahli United Bank

     35,179        28,098  

Boubyan Bank KSCP

     22,102        36,083  

Burgan Bank SAK

     61,551        40,313  

Gulf Bank KSCP

     121,907        81,012  

Heavy Engineering & Ship Building Co. KSCP Class B

     14,372        16,714  

Humansoft Holding Co. KSC

     9,612        72,167  

Kuwait Finance House KSCP

     195,380        394,505  

Kuwait International Bank KSCP

     46,722        29,854  

Kuwait Projects Co. Holding KSCP

     59,633        32,389  

Mabanee Co. SAK

     10,241        20,744  

Mobile Telecommunications Co. KSC

     212,313        350,011  

National Bank of Kuwait SAKP

     434,020        998,385  
     

 

 

 
Total Kuwait

 

     2,158,069  
Morocco – 2.3%

 

Attijariwafa Bank

     4,205        154,035  

Maroc Telecom

     13,227        165,460  
     

 

 

 
Total Morocco

 

     319,495  
Oman – 1.3%

 

Bank Muscat SAOG

     223,332        186,762  
Qatar – 25.3%

 

Aamal Co.

     262,401        43,241  

Al Meera Consumer Goods Co. QSC

     4,553        18,057  

Barwa Real Estate Co.

     260,176        214,372  

Commercial Bank PSQC (The)

     126,062        134,925  

Industries Qatar QSC

     200,960        367,038  

Masraf Al Rayan QSC

     373,717        375,667  

Medicare Group

     10,264      16,632  

Mesaieed Petrochemical Holding Co.

     213,217        85,498  

Ooredoo QPSC

     47,945        77,297  

Qatar Aluminum Manufacturing Co.

     145,160        20,931  

Qatar Electricity & Water Co. QSC

     45,314        169,632  

Qatar Fuel QSC

     30,759        138,293  

Qatar Gas Transport Co., Ltd.

     221,002        127,405  

Qatar Insurance Co. SAQ

     122,511        70,324  

Qatar International Islamic Bank QSC

     56,209        112,078  

Qatar Islamic Bank SAQ

     70,964        279,880  

Qatar National Bank QPSC

     249,015        1,148,984  

Qatar National Cement Co. QSC

     26,336        24,737  

United Development Co. QSC

     231,121        62,843  

Vodafone Qatar QSC

     148,031        35,168  
     

 

 

 
Total Qatar

 

     3,523,002  
Saudi Arabia – 27.2%

 

Abdullah Al Othaim Markets Co.

     1,230        30,382  

Advanced Petrochemical Co.

     4,680        55,433  

Al Rajhi Bank

     46,484        665,648  

Alinma Bank

     24,788        137,235  

Almarai Co. JSC

     2,701        33,789  

Arab National Bank

     5,351        26,064  

Bank Al-Jazira

     18,114        54,675  

Bank AlBilad

     5,640        30,684  

Banque Saudi Fransi

     20,526        141,229  

Bupa Arabia for Cooperative Insurance Co.

     320        7,785  

Jarir Marketing Co.

     2,385        81,129  

Kingdom Holding Co.

     12,958        21,901  

Mouwasat Medical Services Co.

     693        15,402  

National Commercial Bank

     50,351        465,047  

National Petrochemical Co.

     2,163        10,743  

Riyad Bank

     40,822        162,549  

Sahara International Petrochemical Co.

     5,500        17,977  

Samba Financial Group

     47,154        252,526  

Saudi Airlines Catering Co.

     1,725        34,665  

Saudi Arabian Fertilizer Co.

     5,464        90,170  

Saudi Basic Industries Corp.

     33,235        619,231  

Saudi British Bank (The)

     6,420        34,552  

Saudi Cement Co.

     2,703        35,253  

Saudi Electricity Co.

     19,554        82,859  

Saudi Ground Services Co.

     3,784        23,105  

Saudi Industrial Investment Group

     11,443        48,062  

Saudi Telecom Co.

     17,433        406,012  

Southern Province Cement Co.

     2,176        31,566  

Yanbu Cement Co.

     1,724        11,793  

Yanbu National Petrochemical Co.

     14,560        161,218  
     

 

 

 
Total Saudi Arabia

 

     3,788,684  
United Arab Emirates – 17.4%

 

Abu Dhabi Commercial Bank PJSC

     227,254        286,453  

Abu Dhabi Islamic Bank PJSC

     83,107        90,276  

Abu Dhabi National Oil Co. for Distribution PJSC

     98,359        72,300  

Aldar Properties PJSC

     471,814        197,812  

Arabtec Holding PJSC

     36,635        4,638  

 

See Notes to Financial Statements.

 

86   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Middle East Dividend Fund (GULF)

March 31, 2020

 

 

 

Investments    Shares      Value  

Aramex PJSC

     41,563      $ 25,573  

Dana Gas PJSC

     353,179        54,806  

Dubai Investments PJSC

     264,328        79,878  

Dubai Islamic Bank PJSC

     199,248        195,280  

Emaar Development PJSC

     97,527        57,617  

Emaar Malls PJSC

     181,832        52,968  

Emaar Properties PJSC

     205,675        124,307  

Emirates NBD Bank PJSC

     60,364        118,817  

Emirates Telecommunications Group Co. PJSC

     149,682        571,319  

First Abu Dhabi Bank PJSC

     190,337        500,048  
     

 

 

 

Total United Arab Emirates

 

     2,432,092  

TOTAL INVESTMENTS IN SECURITIES – 98.3%

(Cost: $14,638,804)

 

 

     13,700,908  

Other Assets less Liabilities – 1.7%

 

     241,487  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 13,942,395  

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $501,318, which represents 3.60% of net assets.

 

See Notes to Financial Statements.

 

WisdomTree Trust      87  


Table of Contents

Schedule of Investments

WisdomTree Modern Tech Platforms Fund (PLAT)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

Argentina – 1.4%

 

MercadoLibre, Inc.*

     52      $ 25,406  
Canada – 3.0%

 

Ritchie Bros Auctioneers, Inc.

     723        24,712  

Stars Group, Inc. (The)*(a)

     1,380        28,180  
     

 

 

 
Total Canada

 

     52,892  
China – 16.4%

 

51job, Inc. ADR*

     295        18,110  

58.com, Inc. ADR*

     388        18,904  

Alibaba Group Holding Ltd. ADR*

     142        27,616  

Autohome, Inc. ADR*

     232        16,477  

Baidu, Inc. ADR*

     167        16,832  

Bilibili, Inc. ADR*(a)

     1,446        33,865  

DouYu International Holdings Ltd. ADR*(a)

     4,171        26,736  

HUYA, Inc. ADR*(a)

     1,136        19,255  

JOYY, Inc. ADR*(a)

     330        17,576  

Momo, Inc. ADR

     742        16,094  

Pinduoduo, Inc. ADR*(a)

     1,178        42,443  

Qutoutiao, Inc. ADR*(a)

     3,857        9,218  

Trip.com Group Ltd. ADR*

     518        12,147  

Weibo Corp. ADR*(a)

     347        11,489  
     

 

 

 
Total China

 

     286,762  
France – 1.3%

 

Adevinta ASA*

     2,553        22,635  
Germany – 7.7%

 

CTS Eventim AG & Co. KGaA

     538        24,310  

Delivery Hero SE*(b)

     566        42,206  

Deutsche Boerse AG

     207        28,391  

TeamViewer AG*

     984        39,290  
     

 

 

 
Total Germany

 

     134,197  
India – 0.6%

 

MakeMyTrip Ltd.*(a)

     941        11,250  
Japan – 3.8%

 

LINE Corp. ADR*(a)

     765        36,827  

Sony Corp. ADR

     506        29,945  
     

 

 

 
Total Japan

 

     66,772  
Netherlands – 1.3%

 

Just Eat Takeaway*(b)

     308        23,217  
Russia – 1.4%

 

Yandex N.V. Class A*

     702        23,903  
United Kingdom – 3.7%

 

Farfetch Ltd. Class A*(a)

     775        6,122  

London Stock Exchange Group PLC

     421        38,003  

Rightmove PLC

     3,485        21,062  
     

 

 

 
Total United Kingdom

 

     65,187  
United States – 59.1%

 

Alphabet, Inc. Class A*

     20        23,239  

Amazon.com, Inc.*

     14        27,296  

American Express Co.

     250        21,403  

Anaplan, Inc.*

     655        19,820  

ANGI Homeservices, Inc. Class A*(a)

     1,612      8,463  

Apple, Inc.

     127        32,295  

Atlassian Corp. PLC Class A*

     230        31,570  

BGC Partners, Inc. Class A

     5,348        13,477  

Booking Holdings, Inc.*

     16        21,525  

Cargurus, Inc.*

     517        9,792  

CBOE Global Markets, Inc.

     274        24,454  

Chegg, Inc.*(a)

     754        26,978  

CME Group, Inc.

     137        23,689  

Copart, Inc.*

     381        26,106  

CoStar Group, Inc.*

     50        29,360  

Coupa Software, Inc.*(a)

     251        35,072  

Dropbox, Inc. Class A*

     1,096        19,838  

eBay, Inc.

     635        19,088  

Etsy, Inc.*

     399        15,338  

Expedia Group, Inc.

     155        8,722  

Facebook, Inc. Class A*

     130        21,684  

GrubHub, Inc.*

     422        17,188  

IAA, Inc.*

     501        15,010  

Intercontinental Exchange, Inc.

     292        23,579  

KAR Auction Services, Inc.(a)

     315        3,780  

LendingTree, Inc.*(a)

     57        10,453  

Lyft, Inc. Class A*

     453        12,163  

MarketAxess Holdings, Inc.

     98        32,592  

MasterCard, Inc. Class A

     109        26,330  

Match Group, Inc.*(a)

     445        29,388  

Microsoft Corp.

     191        30,123  

Nasdaq, Inc.

     267        25,352  

PayPal Holdings, Inc.*

     241        23,073  

Pinterest, Inc. Class A*

     905        13,973  

salesforce.com, Inc.*

     162        23,325  

Slack Technologies, Inc. Class A*

     1,316        35,321  

Snap, Inc. Class A*(a)

     2,423        28,809  

Teladoc Health, Inc.*

     472        73,165  

TripAdvisor, Inc.

     574        9,982  

Twitter, Inc.*

     593        14,564  

Uber Technologies, Inc.*

     1,079        30,126  

Visa, Inc. Class A

     167        26,907  

Yelp, Inc.*

     598        10,782  

Zillow Group, Inc. Class A*

     777        26,395  

Zynga, Inc. Class A*

     4,750        32,537  
     

 

 

 
Total United States

 

     1,034,126  

TOTAL COMMON STOCKS

(Cost: $1,899,795)

 

 

     1,746,347  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 9.7%

 

United States – 9.7%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $169,198)      169,198        169,198  

TOTAL INVESTMENTS IN SECURITIES – 109.4%

(Cost: $2,068,993)

 

 

     1,915,545  

Other Assets less Liabilities – (9.4)%

 

     (164,659
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,750,886  

 

See Notes to Financial Statements.

 

88   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Modern Tech Platforms Fund (PLAT)

March 31, 2020

 

 

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $329,200 and the total market value of the collateral held by the Fund was $338,821. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $169,623.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

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

Amount and
Description of
Currency to
be Purchased

   

Amount and
Description of
Currency to
be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Deutsche Bank AG

    4/1/2020       250       GBP       3,238       NOK     $ 1     $  

JP Morgan Chase Bank N.A.

    4/1/2020       1,900       EUR       2,091       USD             (6

Morgan Stanley & Co.

    4/1/2020       654       EUR       7,500       NOK       3        
                                            $ 4     $ (6

 

See Notes to Financial Statements.

 

WisdomTree Trust      89  


Table of Contents

Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2020

 

 

 

      WisdomTree
Asia Pacific
ex-Japan Fund
     WisdomTree
China
ex-State-Owned
Enterprises Fund
     WisdomTree
Emerging
Markets Consumer
Growth Fund
     WisdomTree
Emerging Markets
ex-State-Owned
Enterprises Fund
    

WisdomTree
Emerging

Markets High

Dividend Fund

 

ASSETS:

 

Investments, at cost

   $ 23,915,670      $ 194,339,870      $ 30,019,298      $ 950,108,977      $ 2,118,908,434  

Investment in affiliates, at cost (Note 3)

     198,711                             1,182,658  

Foreign currency, at cost

     50,227        68,276        22,428        648,808        2,404,901  

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

     20,922,287        190,494,518        27,201,606        820,709,886        1,647,945,082  

Investment in affiliates, at value (Note 3)

     163,964                             874,659  

Cash

     2,172        27,546        19,115        308,925        484,355  

Foreign currency, at value

     49,894        68,574        21,830        640,628        2,366,918  

Unrealized appreciation on foreign currency contracts

     159                             1,856  

Receivables:

 

Investment securities sold

                                 2,549,708  

Dividends

     102,597        2,720        64,758        1,508,617        3,635,594  

Securities lending income

     132        6,894        1,987        15,159        174,707  

Foreign tax reclaims

                          2,535        38,818  

Total Assets

     21,241,205        190,600,252        27,309,296        823,185,750        1,658,071,697  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

     7                              

Payables:

              

Cash collateral received for securities loaned (Note 2)

     27,000        2,196,509        274,517        12,965,657        15,638,623  

Investment securities purchased

                                 2,518,800  

Capital shares redeemed

                                 1,860  

Advisory fees (Note 3)

     9,154        52,014        7,865        225,555        970,877  

Service fees (Note 2)

     83        716        107        3,100        6,773  

Total Liabilities

     36,244        2,249,239        282,489        13,194,312        19,136,933  

NET ASSETS

   $ 21,204,961      $ 188,351,013      $ 27,026,807      $ 809,991,438      $ 1,638,934,764  

NET ASSETS:

              

Paid-in capital

   $ 34,064,212      $ 222,283,167      $ 41,396,341      $ 970,501,104      $ 3,442,637,151  

Total distributable earnings (loss)

     (12,859,251      (33,932,154      (14,369,534      (160,509,666      (1,803,702,387

NET ASSETS

   $ 21,204,961      $ 188,351,013      $ 27,026,807      $ 809,991,438      $ 1,638,934,764  

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

     400,000        2,450,000        1,500,000        33,200,000        50,500,000  

Net asset value per share

   $ 53.01      $ 76.88      $ 18.02      $ 24.40      $ 32.45  

1 Includes market value of securities out on loan of:

   $ 994,575      $ 10,926,671      $ 670,293      $ 18,904,651      $ 105,201,828  

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

  

  

 

See Notes to Financial Statements.

 

90   WisdomTree Trust


Table of Contents

Statements of Assets and Liabilities (continued)

WisdomTree Trust

March 31, 2020

 

 

 

      WisdomTree
Emerging
Markets
Multifactor
Fund
     WisdomTree
Emerging
Markets Quality
Dividend
Growth Fund
    

WisdomTree
Emerging

Markets

SmallCap

Dividend Fund

     WisdomTree
Global ex-U.S.
Quality Dividend
Growth Fund
     WisdomTree
Global ex-U.S.
Real Estate
Fund
 

ASSETS:

 

Investments, at cost

   $ 8,285,682      $ 81,642,791      $ 1,624,484,462      $ 106,633,029      $ 101,203,171  

Investment in affiliates, at cost (Note 3)

                   3,403,473        406,914         

Foreign currency, at cost

     6,181        49,390        2,575,433        145,964        22,324  

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

     7,087,376        69,715,112        1,225,502,129        97,000,013        80,985,876  

Investment in affiliates, at value (Note 3)

                   2,677,653        315,963         

Cash

     5,812        2,716        1,489,000        14,336        21,339  

Foreign currency, at value

     6,150        49,443        2,554,843        143,782        22,074  

Unrealized appreciation on foreign currency contracts

     16,187        767               1,631        109  

Receivables:

 

Investment securities sold

            167,854        81,718        1,134,240        504,537  

Dividends

     25,243        145,838        5,144,386        464,214        223,055  

Securities lending income

            1,421        376,177        1,888        6,061  

Foreign tax reclaims

     285        344        20,051        113,071        32,178  

Total Assets

     7,141,053        70,083,495        1,237,845,957        99,189,138        81,795,229  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

     35,719        79        550        184        3  

Payables:

              

Cash collateral received for securities loaned (Note 2)

            42,799        19,373,838        2,349,390        563,441  

Investment securities purchased

     732        84,047        852,692        1,130,073        484,485  

Capital shares redeemed

                   33,918                

Advisory fees (Note 3)

     3,022        20,228        729,771        48,445        43,772  

Service fees (Note 2)

     28        278        5,070        364        331  

Total Liabilities

     39,501        147,431        20,995,839        3,528,456        1,092,032  

NET ASSETS

   $ 7,101,552      $ 69,936,064      $ 1,216,850,118      $ 95,660,682      $ 80,703,197  

NET ASSETS:

              

Paid-in capital

   $ 10,447,115      $ 98,650,015      $ 2,044,406,636      $ 120,094,591      $ 121,828,139  

Total distributable earnings (loss)

     (3,345,563      (28,713,951      (827,556,518      (24,433,909      (41,124,942

NET ASSETS

   $ 7,101,552      $ 69,936,064      $ 1,216,850,118      $ 95,660,682      $ 80,703,197  

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

     400,000        3,600,000        36,900,000        1,800,000        3,650,000  

Net asset value per share

   $ 17.75      $ 19.43      $ 32.98      $ 53.14      $ 22.11  

1 Includes market value of securities out on loan of:

          $ 1,281,705      $ 162,816,942      $ 6,640,657      $ 1,849,442  

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

  

  

 

See Notes to Financial Statements.

 

WisdomTree Trust      91  


Table of Contents

Statements of Assets and Liabilities (concluded)

WisdomTree Trust

March 31, 2020

 

 

 

      WisdomTree
Global High
Dividend Fund
     WisdomTree
India
Earnings Fund

(consolidated)
    

WisdomTree
India
ex-State-Owned

Enterprises Fund

     WisdomTree
Middle East
Dividend Fund
     WisdomTree
Modern Tech
Platforms Fund
 

ASSETS:

 

Investments, at cost

   $ 87,500,209      $ 586,447,038      $ 1,236,694      $ 14,638,804      $ 2,068,993  

Investment in affiliates, at cost (Note 3)

     231,862        26,901                       

Foreign currency, at cost

     75,330        3,777,931        1,969        15,155         

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

     68,115,596        559,755,256        881,746        13,700,908        1,915,545  

Investment in affiliates, at value (Note 3)

     265,100        19,463                       

Cash

     89,066        228,299        494        9,524        6,666  

Foreign currency, at value

     74,782        3,752,879        1,942        15,147         

Unrealized appreciation on foreign currency contracts

     256                             4  

Receivables:

 

Investment securities sold

     169,009        4,801               1,471         

Dividends

     277,044        16,319        25        226,918        80  

Securities lending income

     1,281                             214  

Foreign tax reclaims

     58,929                              

Total Assets

     69,051,063        563,777,017        884,207        13,953,968        1,922,509  

LIABILITIES:

 

Foreign currency due to custodian, at value

                                 1,768  

Unrealized depreciation on foreign currency contracts

     468                             6  

Payables:

              

Cash collateral received for securities loaned (Note 2)

     1,818,703                             169,198  

Investment securities purchased

     244,589               1,851                

Advisory fees (Note 3)

     35,185        457,246        490        11,515        645  

Service fees (Note 2)

     266        2,424        4        58        6  

Total Liabilities

     2,099,211        459,670        2,345        11,573        171,623  

NET ASSETS

   $ 66,951,852      $ 563,317,347      $ 881,862      $ 13,942,395      $ 1,750,886  

NET ASSETS:

              

Paid-in capital

   $ 95,687,225      $ 782,435,865      $ 1,352,888      $ 20,442,848      $ 1,941,054  

Total distributable earnings (loss)

     (28,735,373      (219,118,518      (471,026      (6,500,453      (190,168

NET ASSETS

   $ 66,951,852      $ 563,317,347      $ 881,862      $ 13,942,395      $ 1,750,886  

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

     1,950,000        34,800,000        50,000        900,000        75,004  

Net asset value per share

   $ 34.33      $ 16.19      $ 17.64      $ 15.49      $ 23.34  

1 Includes market value of securities out on loan of:

   $ 3,278,847                           $ 329,200  

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

  

  

 

See Notes to Financial Statements.

 

92   WisdomTree Trust


Table of Contents

Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

     WisdomTree
Asia Pacific
ex-Japan Fund
   

WisdomTree

China

ex-State-Owned
Enterprises Fund

   

WisdomTree
Emerging

Markets Consumer
Growth Fund

    WisdomTree
Emerging Markets
ex-State-Owned
Enterprises Fund
    WisdomTree
Emerging
Markets High
Dividend Fund
 
                                     

INVESTMENT INCOME:

         

Dividends1

  $ 1,155,981     $ 1,908,812     $ 848,326     $ 9,621,379     $ 119,521,062  

Dividends from affiliates (Note 3)

    24,162                         86,920  

Interest

    6       808       2       265        

Non-cash dividends

    13,668             339,267       3,319,160       412,091  

Securities lending income (Note 2)

    1,467       103,914       17,974       148,270       1,631,281  

Total investment income

    1,195,284       2,013,534       1,205,569       13,089,074       121,651,354  

EXPENSES:

 

Advisory fees (Note 3)

    142,664       937,886       224,790       3,079,721       13,835,280  

Service fees (Note 2)

    1,308       6,550       1,571       23,363       96,627  

Total expenses

    143,972       944,436       226,361       3,103,084       13,931,907  

Expense waivers (Note 3)

    (137     (461,499     (110,611     (1,380,565     (5,939

Net expenses

    143,835       482,937       115,750       1,722,519       13,925,968  

Net investment income

    1,051,449       1,530,597       1,089,819       11,366,555       107,725,386  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

         

Investment transactions2

    170,866       (5,105,186     (180,332     (18,646,488     (23,925,460

Investment transactions in affiliates (Note 3)

    (23,652                       (225,123

In-kind redemptions

    460,598       (87,999     383,758             (5,563,238

Foreign currency contracts

    (22,580     (27,395     13,537       (204,618     220,774  

Foreign currency related transactions

    9,902       14,096       (13,292     (49,933     (809,033

Net realized gain (loss)

    595,134       (5,206,484     203,671       (18,901,039     (30,302,080

Net increase (decrease) in unrealized appreciation/depreciation:

         

Investment transactions3

    (6,504,995     (4,773,671     (6,264,631     (139,008,756     (579,863,352

Investment transactions in affiliates (Note 3)

    (35,045                       (357,934

Foreign currency contracts

    152                         (5,354

Translation of assets and liabilities denominated in foreign currencies

    (4,133     354       (5,347     (61,933     (240,188

Net increase (decrease) in unrealized appreciation/depreciation

    (6,544,021     (4,773,317     (6,269,978     (139,070,689     (580,466,828

Net realized and unrealized loss on investments

    (5,948,887     (9,979,801     (6,066,307     (157,971,728     (610,768,908

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

  $ (4,897,438   $ (8,449,204   $ (4,976,488   $ (146,605,173   $ (503,043,522

1 Net of foreign withholding tax of:

  $ 97,411     $ 88,924     $ 112,748     $ 1,270,144     $ 16,697,186  

2 Net of foreign capital gains tax withheld of:

                          $ 1,274,142  

3 Includes net increase (decrease) in accrued foreign capital gain taxes of:

  $ (13,844         $ (3,164   $ (23,763   $ (77,849

 

See Notes to Financial Statements.

 

WisdomTree Trust      93  


Table of Contents

Statements of Operations (continued)

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

     WisdomTree
Emerging
Markets
Multifactor
Fund
    WisdomTree
Emerging
Markets Quality
Dividend
Growth Fund
    WisdomTree
Emerging
Markets
SmallCap
Dividend Fund
    WisdomTree
Global ex-U.S.
Quality Dividend
Growth Fund
    WisdomTree
Global ex-U.S.
Real Estate
Fund
 

INVESTMENT INCOME:

         

Dividends1

  $ 725,570     $ 2,092,966     $ 68,870,181     $ 2,725,976     $ 4,435,014  

Dividends from affiliates (Note 3)

                596,983       19,301        

Interest

    30       2       503              

Non-cash dividends

    214       18,012       1,870,471       29,219       98,966  

Securities lending income (Note 2)

          13,772       3,430,960       38,689       43,082  

Total investment income

    725,814       2,124,752       74,769,098       2,813,185       4,577,062  

EXPENSES:

 

Advisory fees (Note 3)

    93,549       436,288       10,068,359       500,188       611,857  

Service fees (Note 2)

    858       3,046       70,319       3,795       4,642  

Total expenses

    94,407       439,334       10,138,678       503,983       616,499  

Expense waivers (Note 3)

          (214,681     (18,268     (645      

Net expenses

    94,407       224,653       10,120,410       503,338       616,499  

Net investment income

    631,407       1,900,099       64,648,688       2,309,847       3,960,563  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

         

Investment transactions2

    (1,364,937     348,700       (32,003,263     518,003       (3,277,335

Investment transactions in affiliates (Note 3)

                (569,895     4,569        

In-kind redemptions

    164,315       1,737,011       1,069,354       4,693,086       1,057,073  

Futures contracts

    (3,696                        

Foreign currency contracts

    (239,449     23,845       138,399       (48,345     (4,126

Foreign currency related transactions

    10,332       (41,544     (910,537     (4,831     (8,730

Net realized gain (loss)

    (1,433,435     2,068,012       (32,275,942     5,162,482       (2,233,118

Net increase (decrease) in unrealized appreciation/depreciation:

         

Investment transactions3

    (1,897,582     (20,686,453     (493,445,363     (14,011,278     (30,189,013

Investment transactions in affiliates (Note 3)

                (725,820     (90,982      

Foreign currency contracts

    (41,118     690       (550     1,447       106  

Translation of assets and liabilities denominated in foreign currencies

    (2,332     (9,237     (260,446     (14,602     2,628  

Net increase (decrease) in unrealized appreciation/depreciation

    (1,941,032     (20,695,000     (494,432,179     (14,115,415     (30,186,279

Net realized and unrealized loss on investments

    (3,374,467     (18,626,988     (526,708,121     (8,952,933     (32,419,397

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

  $ (2,743,060   $ (16,726,889   $ (462,059,433   $ (6,643,086   $ (28,458,834

1 Net of foreign withholding tax of:

  $ 81,910     $ 254,384     $ 9,682,755     $ 250,316     $ 422,561  

2 Net of foreign capital gains tax withheld of:

  $ 1,778     $ 64,794     $ 245              

3 Includes net increase (decrease) in accrued foreign capital gain taxes of:

  $ (15,536   $ (103,103   $ (20,185   $ (54,048      

 

See Notes to Financial Statements.

 

94   WisdomTree Trust


Table of Contents

Statements of Operations (concluded)

WisdomTree Trust

For the Year or Period Ended March 31, 2020

 

 

 

      WisdomTree
Global High
Dividend Fund
     WisdomTree
India
Earnings Fund

(consolidated)
    

WisdomTree
India

ex-State-Owned
Enterprises Fund1

     WisdomTree
Middle East
Dividend Fund
     WisdomTree
Modern Tech
Platforms Fund2
 

INVESTMENT INCOME:

              

Dividends3

   $ 3,915,213      $ 23,626,604      $ 25,140      $ 822,407      $ 9,827  

Dividends from affiliates (Note 3)

     15,529                              

Non-cash dividends

     53,588                              

Securities lending income (Note 2)

     21,250                             2,976  

Total investment income

     4,005,580        23,626,604        25,140        822,407        12,803  

EXPENSES:

 

Advisory fees (Note 3)

     520,568        9,517,615        10,526        183,469        7,947  

Service fees (Note 2)

     3,950        50,455        80        917        78  

Interest expense (Note 8)

            108,031                       

Total expenses

     524,518        9,676,101        10,606        184,386        8,025  

Expense waivers (Note 3)

     (146      (70                     

Net expenses

     524,372        9,676,031        10,606        184,386        8,025  

Net investment income

     3,481,208        13,950,573        14,534        638,021        4,778  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

              

Investment transactions

     (1,235,125      12,392,024        (116,725      (1,095,911      (37,459

Investment transactions in affiliates (Note 3)

     (29,121                            

In-kind redemptions

     1,365,482                             74,385  

Futures contracts

                   663                

Foreign currency contracts

     (2,143      (387,754      (10,254      (14,715      166  

Foreign currency related transactions

     (14,570      (1,550,957      (4,877      (1,877      (172

Net realized gain (loss)

     84,523        10,453,313        (131,193      (1,112,503      36,920  

Net increase (decrease) in unrealized appreciation/depreciation:

 

Investment transactions4

     (23,156,348      (409,732,266      (354,948      (3,972,910      (153,448

Investment transactions in affiliates (Note 3)

     32,158        (7,438                     

Foreign currency contracts

     (231                           (2

Translation of assets and liabilities denominated in foreign currencies

     (112      (13,544      (15      351        (1

Net increase (decrease) in unrealized appreciation/depreciation

     (23,124,533      (409,753,248      (354,963      (3,972,559      (153,451

Net realized and unrealized loss on investments

     (23,040,010      (399,299,935      (486,156      (5,085,062      (116,531

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (19,558,802    $ (385,349,362    $ (471,622    $ (4,447,041    $ (111,753

1 For the period April 4, 2019 (commencement of operations) through March 31, 2020.

  

2 For the period May 22, 2019 (commencement of operations) through March 31, 2020.

  

3 Net of foreign withholding tax of:

   $ 199,582             $ 2      $ 16,377      $ 105  

4 Includes net increase (decrease) in accrued foreign capital gain taxes of:

   $ (2,961    $ (8,357,219                     

 

See Notes to Financial Statements.

 

WisdomTree Trust      95  


Table of Contents

Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

      WisdomTree Asia Pacific ex-Japan Fund      WisdomTree China ex-State-Owned
Enterprises Fund
     WisdomTree Emerging Markets
Consumer Growth Fund
 
      For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 1,051,449      $ 1,597,637      $ 1,530,597      $ 2,203,233      $ 1,089,819      $ 1,155,886  

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

     595,134        83,683        (5,206,484      (12,677,657      203,671        (9,497,161

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

     (6,544,021      (1,258,098      (4,773,317      (13,943,126      (6,269,978      838,406  

Net increase (decrease) in net assets resulting from operations

     (4,897,438      423,222        (8,449,204      (24,417,550      (4,976,488      (7,502,869

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (1,027,347      (1,626,373      (1,482,750      (2,142,539      (1,079,501      (1,229,361

Tax return of capital

                          (19,493              

Total distributions to shareholders

     (1,027,347      (1,626,373      (1,482,750      (2,162,032      (1,079,501      (1,229,361

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

                   74,050,585        31,032,707        4,224,487        7,530,704  

Cost of shares redeemed

     (6,573,170      (10,144,864      (19,466,325      (76,681,994      (5,556,037      (14,436,242

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

     (6,573,170      (10,144,864      54,584,260        (45,649,287      (1,331,550      (6,905,538

Net Increase (Decrease) in Net Assets

     (12,497,955      (11,348,015      44,652,306        (72,228,869      (7,387,539      (15,637,768

NET ASSETS:

 

Beginning of year

   $ 33,702,916      $ 45,050,931      $ 143,698,707      $ 215,927,576      $ 34,414,346      $ 50,052,114  

End of year

   $ 21,204,961      $ 33,702,916      $ 188,351,013      $ 143,698,707      $ 27,026,807      $ 34,414,346  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     500,000        650,000        1,850,000        2,475,000        1,550,000        1,900,000  

Shares created

                   875,000        450,000        200,000        350,000  

Shares redeemed

     (100,000      (150,000      (275,000      (1,075,000      (250,000      (700,000

Shares outstanding, end of year

     400,000        500,000        2,450,000        1,850,000        1,500,000        1,550,000  

 

See Notes to Financial Statements.

 

96   WisdomTree Trust


Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

    

WisdomTree Emerging Markets

ex-State-Owned Enterprises Fund

   

WisdomTree Emerging Markets

High Dividend Fund

   

WisdomTree Emerging

Markets Multifactor Fund

 
     For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2020
    For the Period
August 10, 2018*
through
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 11,366,555     $ 2,650,629     $ 107,725,386     $ 86,478,530     $ 631,407     $ 135,226  

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

    (18,901,039     (11,563,361     (30,302,080     (87,949,446     (1,433,435     (597,099

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

    (139,070,689     9,241,775       (580,466,828     (72,843,919     (1,941,032     720,127  

Net increase (decrease) in net assets resulting from operations

    (146,605,173     329,043       (503,043,522     (74,314,835     (2,743,060     258,254  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (10,713,413     (2,582,368     (107,852,051     (87,028,025     (622,000     (111,589

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    662,126,044       227,609,647       184,251,964       222,013,442       7,133,496       18,738,853  

Cost of shares redeemed

          (12,948,803     (107,427,407     (169,841,137     (15,552,502      

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

    662,126,044       214,660,844       76,824,557       52,172,305       (8,419,006     18,738,853  

Net Increase (Decrease) in Net Assets

    504,807,458       212,407,519       (534,071,016     (109,170,555     (11,784,066     18,885,518  

NET ASSETS:

 

Beginning of period

  $ 305,183,980     $ 92,776,461     $ 2,173,005,780     $ 2,282,176,335     $ 18,885,618     $ 100  

End of period

  $ 809,991,438     $ 305,183,980     $ 1,638,934,764     $ 2,173,005,780     $ 7,101,552     $ 18,885,618  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of period

    10,600,000       2,900,000       49,700,000       48,200,000       800,004       4  

Shares created

    22,600,000       8,200,000       4,100,000       5,400,000       300,000       800,000  

Shares redeemed

          (500,000     (3,300,000     (3,900,000     (700,004      

Shares outstanding, end of period

    33,200,000       10,600,000       50,500,000       49,700,000       400,000       800,004  
*

Commencement of operations.

 

See Notes to Financial Statements.

 

WisdomTree Trust      97  


Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

     WisdomTree Emerging Markets Quality
Dividend Growth Fund
    WisdomTree Emerging Markets SmallCap
Dividend Fund
    WisdomTree Global ex-U.S. Quality
Dividend Growth Fund
 
     For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 1,900,099     $ 2,178,674     $ 64,648,688     $ 55,332,129     $ 2,309,847     $ 1,440,222  

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

    2,068,012       (8,322,575     (32,275,942     (49,750,891     5,162,482       (2,272,593

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

    (20,695,000     (145,888     (494,432,179     (162,143,870     (14,115,415     (2,212,071

Net increase (decrease) in net assets resulting from operations

    (16,726,889     (6,289,789     (462,059,433     (156,562,632     (6,643,086     (3,044,442

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (1,769,180     (2,036,219     (64,397,006     (58,272,794     (2,044,152     (1,532,940

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    24,084,102       20,285,323       434,522,096       56,606,185       55,725,705       17,216,657  

Cost of shares redeemed

    (4,840,952     (18,212,318     (116,184,314     (159,906,299     (23,657,765     (11,200,399

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

    19,243,150       2,073,005       318,337,782       (103,300,114     32,067,940       6,016,258  

Net Increase (Decrease) in Net Assets

    747,081       (6,253,003     (208,118,657     (318,135,540     23,380,702       1,438,876  

NET ASSETS:

 

Beginning of year

  $ 69,188,983     $ 75,441,986     $ 1,424,968,775     $ 1,743,104,315     $ 72,279,980     $ 70,841,104  

End of year

  $ 69,936,064     $ 69,188,983     $ 1,216,850,118     $ 1,424,968,775     $ 95,660,682     $ 72,279,980  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    2,800,000       2,800,000       30,300,000       32,600,000       1,300,000       1,200,000  

Shares created

    1,000,000       800,000       9,400,000       1,200,000       900,000       300,000  

Shares redeemed

    (200,000     (800,000     (2,800,000     (3,500,000     (400,000     (200,000

Shares outstanding, end of year

    3,600,000       2,800,000       36,900,000       30,300,000       1,800,000       1,300,000  

 

See Notes to Financial Statements.

 

98   WisdomTree Trust


Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

      WisdomTree Global ex-U.S. Real
Estate Fund
     WisdomTree Global High Dividend Fund      WisdomTree India Earnings Fund
(consolidated)
 
      For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 3,960,563      $ 3,839,069      $ 3,481,208      $ 3,789,556      $ 13,950,573      $ 16,802,706  

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

     (2,233,118      (1,372,513      84,523        434,804        10,453,313        28,758,384  

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

     (30,186,279      3,113,027        (23,124,533      (1,194,141      (409,753,248      (19,298,961

Net increase (decrease) in net assets resulting from operations

     (28,458,834      5,579,583        (19,558,802      3,030,219        (385,349,362      26,262,129  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (8,280,378      (4,157,515      (3,450,818      (3,977,862      (8,945,464      (18,968,260

Tax return of capital

                                        (609,812

Total distributions to shareholders

     (8,280,378      (4,157,515      (3,450,818      (3,977,862      (8,945,464      (19,578,072

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     7,799,877        14,383,629        2,313,061               162,287,596        236,716,827  

Cost of shares redeemed

     (4,503,382      (8,988,290      (4,578,918      (11,182,914      (528,099,367      (591,544,150

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

     3,296,495        5,395,339        (2,265,857      (11,182,914      (365,811,771      (354,827,323

Net Increase (Decrease) in Net Assets

     (33,442,717      6,817,407        (25,275,477      (12,130,557      (760,106,597      (348,143,266

NET ASSETS:

 

Beginning of year

   $ 114,145,914      $ 107,328,507      $ 92,227,329      $ 104,357,886      $ 1,323,423,944      $ 1,671,567,210  

End of year

   $ 80,703,197      $ 114,145,914      $ 66,951,852      $ 92,227,329      $ 563,317,347      $ 1,323,423,944  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     3,550,000        3,350,000        2,000,000        2,250,000        50,400,000        64,600,000  

Shares created

     250,000        500,000        50,000               6,800,000        9,400,000  

Shares redeemed

     (150,000      (300,000      (100,000      (250,000      (22,400,000      (23,600,000

Shares outstanding, end of year

     3,650,000        3,550,000        1,950,000        2,000,000        34,800,000        50,400,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      99  


Table of Contents

Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

      WisdomTree India ex-State-Owned
Enterprises Fund
     WisdomTree Middle East Dividend Fund      WisdomTree Modern Tech
Platforms Fund
 
     

For the Period

April 4, 2019*
through

March 31, 2020

     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
    

For the Period
May 22, 2019*

through

March 31, 2020

 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

   $ 14,534      $ 638,021      $ 797,052      $ 4,778  

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

     (131,193      (1,112,503      (349,765      36,920  

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

     (354,963      (3,972,559      1,897,618        (153,451

Net increase (decrease) in net assets resulting from operations

     (471,622      (4,447,041      2,344,905        (111,753

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

            (683,116      (738,425      (4,030

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     2,523,084        4,176,666        5,736,903        3,164,925  

Cost of shares redeemed

     (1,169,700      (5,576,924      (1,894,772      (1,298,356

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

     1,353,384        (1,400,258      3,842,131        1,866,569  

Net Increase (Decrease) in Net Assets

     881,762        (6,530,415      5,448,611        1,750,786  

NET ASSETS:

 

Beginning of period

   $ 100      $ 20,472,810      $ 15,024,199      $ 100  

End of period

   $ 881,862      $ 13,942,395      $ 20,472,810      $ 1,750,886  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of period

     4        1,000,000        800,000        4  

Shares created

     100,000        200,000        300,000        125,000  

Shares redeemed

     (50,004      (300,000      (100,000      (50,000

Shares outstanding, end of period

     50,000        900,000        1,000,000        75,004  
*

Commencement of operations.

 

See Notes to Financial Statements.

 

100   WisdomTree Trust


Table of Contents

Financial Highlights

WisdomTree Trust

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

 

 

WisdomTree Asia Pacific ex-Japan Fund   

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 67.41      $ 69.31      $ 64.08      $ 57.08      $ 67.20  

Investment operations:

 

Net investment income1

     2.34        2.71        2.21        1.90        2.14  

Net realized and unrealized gain (loss)

     (14.43      (1.73      5.23        7.03        (10.20

Total from investment operations

     (12.09      0.98        7.44        8.93        (8.06

Dividends to shareholders:

 

Net investment income

     (2.31      (2.88      (2.21      (1.93      (2.06

Net asset value, end of year

   $ 53.01      $ 67.41      $ 69.31      $ 64.08      $ 57.08  

TOTAL RETURN2

     (18.50 )%       1.55      11.75      15.96      (12.06 )%3 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 21,205      $ 33,703      $ 45,051      $ 41,655      $ 45,665  

Ratios to average net assets4 of:

 

Expenses

     0.48 %5       0.48 %5       0.48 %5       0.48      0.48 %5 

Net investment income

     3.54      4.06      3.24      3.19      3.59

Portfolio turnover rate6

     21      21      26      27      24

 

           
WisdomTree China ex-State-Owned
Enterprises Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

   

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 20167

 

Net asset value, beginning of year

   $ 77.67      $ 87.24      $ 57.17     $ 46.75      $ 55.28  

Investment operations:

 

Net investment income1

     0.79        0.98        0.12       0.64        1.25  

Net realized and unrealized gain (loss)

     (0.78      (9.64      30.56       10.45        (8.59

Total from investment operations

     0.01        (8.66      30.68       11.09        (7.34

Dividends and distributions to shareholders:

 

Net investment income

     (0.80      (0.90      (0.61     (0.67      (1.19

Tax return of capital

            (0.01                    

Total dividends and distributions to shareholders

     (0.80      (0.91      (0.61     (0.67      (1.19

Net asset value, end of year

   $ 76.88      $ 77.67      $ 87.24     $ 57.17      $ 46.75  

TOTAL RETURN2

     0.07      (9.91 )%       53.95     23.94      (13.40 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 188,351      $ 143,699      $ 215,928     $ 8,576      $ 9,351  

Ratios to average net assets of:

 

Expenses, net of expense waivers

     0.32 %8       0.32 %8       0.33 %8,9      0.53 %9       0.57 %9 

Expenses, prior to expense waivers

     0.63      0.63      0.63     0.63      0.63

Net investment income

     1.03      1.31      0.14     1.29      2.42

Portfolio turnover rate6

     22      35      20     37      143
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

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

 

6 

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

 

7

The information reflects the investment objective and strategy of the WisdomTree China Dividend ex-Financials Fund through June 30, 2015 and the investment objective and strategy of the WisdomTree China ex-State-Owned Enterprises Fund thereafter.

 

8

Effective June 30, 2017, the investment advisor contractually agreed to limit the advisory fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the Trust.

 

9

Effective July 1, 2015, the investment advisor contractually agreed to limit the advisory fee to 0.53% through July 31, 2017, unless earlier terminated by the Board of Trustees of the Trust.

 

See Notes to Financial Statements.

 

WisdomTree Trust      101  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree Emerging Markets
Consumer Growth Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 22.20      $ 26.34      $ 22.53      $ 20.60      $ 24.89  

Investment operations:

 

Net investment income1

     0.67        0.71        0.49        0.45        0.52  

Net realized and unrealized gain (loss)

     (4.21      (4.08      3.77        2.01        (4.28

Total from investment operations

     (3.54      (3.37      4.26        2.46        (3.76

Dividends to shareholders:

 

Net investment income

     (0.64      (0.77      (0.45      (0.53      (0.53

Net asset value, end of year

   $ 18.02      $ 22.20      $ 26.34      $ 22.53      $ 20.60  

TOTAL RETURN2

     (16.43 )%       (12.66 )%       19.05      12.17      (15.21 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 27,027      $ 34,414      $ 50,052      $ 24,782      $ 12,357  

Ratios to average net assets of:

 

Expenses, net of expense waivers

     0.32 %3       0.32 %3       0.38 %3       0.63      0.63

Expenses, prior to expense waivers

     0.63      0.63      0.63      0.63      0.63

Net investment income

     3.05      3.15      1.93      2.12      2.39

Portfolio turnover rate4

     53      88      63      72      49

 

           
WisdomTree Emerging Markets
ex-State-Owned Enterprises Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 28.79      $ 31.99      $ 24.72      $ 21.48      $ 25.17  

Investment operations:

 

Net investment income1

     0.62        0.42        0.28        0.30        0.35  

Net realized and unrealized gain (loss)

     (4.38      (3.20      7.20        3.25        (3.24

Total from investment operations

     (3.76      (2.78      7.48        3.55        (2.89

Dividends to shareholders:

 

Net investment income

     (0.63      (0.42      (0.21      (0.31      (0.80

Net asset value, end of year

   $ 24.40      $ 28.79      $ 31.99      $ 24.72      $ 21.48  

TOTAL RETURN2

     (13.36 )%       (8.64 )%5       30.30      16.68      (11.69 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 809,991      $ 305,184      $ 92,776      $ 2,472      $ 2,148  

Ratios to average net assets of:

 

Expenses, net of expense waivers

     0.32 %3       0.32 %3       0.33 %3       0.58      0.58

Expenses, prior to expense waivers

     0.58      0.58      0.58      0.58      0.58

Net investment income

     2.14      1.51      0.92      1.33      1.48

Portfolio turnover rate4

     19      24      68      15      46
1 

Based on average shares outstanding.

 

2 

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

 

3 

Effective June 30, 2017, the investment advisor contractually agreed to limit the advisory fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the Trust.

 

4 

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

 

5

Includes a reimbursement from the sub-advisor for an operational error. Excluding the reimbursement, total return would have been unchanged.

 

See Notes to Financial Statements.

 

102   WisdomTree Trust


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree Emerging Markets High
Dividend Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 43.72      $ 47.35      $ 40.69      $ 35.05      $ 42.68  

Investment operations:

 

Net investment income1

     2.10        1.84        1.67        1.42        1.76  

Net realized and unrealized gain (loss)

     (11.25      (3.57      6.65        5.58        (7.74

Total from investment operations

     (9.15      (1.73      8.32        7.00        (5.98

Dividends to shareholders:

 

Net investment income

     (2.12      (1.90      (1.66      (1.36      (1.65

Net asset value, end of year

   $ 32.45      $ 43.72      $ 47.35      $ 40.69      $ 35.05  

TOTAL RETURN2

     (22.06 )%       (3.51 )%       20.98      20.44      (14.07 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 1,638,935      $ 2,173,006      $ 2,282,176      $ 1,721,381      $ 1,321,221  

Ratios to average net assets3 of:

 

Expenses4

     0.63      0.63      0.63      0.63      0.63

Net investment income

     4.91      4.23      3.81      3.81      4.64

Portfolio turnover rate5

     41      44      41      41      43

 

     
WisdomTree Emerging Markets Multifactor Fund   

For the

Year Ended

March 31, 2020

    

For the Period

August 10, 2018*

through

March 31, 2019

 

Net asset value, beginning of period

   $ 23.61      $ 24.68  

Investment operations:

     

Net investment income1

     0.73        0.29  

Net realized and unrealized loss

     (5.91      (1.16

Total from investment operations

     (5.18      (0.87

Dividends to shareholders:

     

Net investment income

     (0.68      (0.20

Net asset value, end of period

   $ 17.75      $ 23.61  

TOTAL RETURN2

     (22.44 )%       (3.52 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 7,102      $ 18,886  

Ratios to average net assets of:

 

Expenses

     0.48      0.48 %4,6 

Net investment income

     3.24      1.97 %6 

Portfolio turnover rate5

     166      133
* 

Commencement of operations.

 

1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

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

 

6 

Annualized.

 

See Notes to Financial Statements.

 

WisdomTree Trust      103  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree Emerging Markets
Quality Dividend Growth Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 24.71      $ 26.94      $ 23.03      $ 21.11      $ 24.08  

Investment operations:

 

Net investment income1

     0.66        0.71        0.56        0.63        0.55  

Net realized and unrealized gain (loss)

     (5.32      (2.30      3.87        1.96        (2.94

Total from investment operations

     (4.66      (1.59      4.43        2.59        (2.39

Dividends to shareholders:

 

Net investment income

     (0.62      (0.64      (0.52      (0.67      (0.58

Net asset value, end of year

   $ 19.43      $ 24.71      $ 26.94      $ 23.03      $ 21.11  

TOTAL RETURN2

     (19.30 )%       (5.79 )%       19.44      12.45      (9.89 )%3 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 69,936      $ 69,189      $ 75,442      $ 48,366      $ 31,667  

Ratios to average net assets of:

 

Expenses, net of expense waivers

     0.32 %4       0.32 %4       0.39 %4       0.63      0.63

Expenses, prior to expense waivers

     0.63      0.63      0.63      0.63      0.63

Net investment income

     2.74      2.93      2.17      2.88      2.59

Portfolio turnover rate5

     55      81      62      49      62

 

           
WisdomTree Emerging Markets
SmallCap Dividend Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 47.03      $ 53.47      $ 44.62      $ 37.90      $ 44.46  

Investment operations:

 

Net investment income1

     1.82        1.79        1.42        1.35        1.24  

Net realized and unrealized gain (loss)

     (14.02      (6.35      8.89        6.71        (6.65

Total from investment operations

     (12.20      (4.56      10.31        8.06        (5.41

Dividends to shareholders:

 

Net investment income

     (1.85      (1.88      (1.46      (1.34      (1.15

Net asset value, end of year

   $ 32.98      $ 47.03      $ 53.47      $ 44.62      $ 37.90  

TOTAL RETURN2

     (26.95 )%       (8.40 )%       23.55      21.76      (12.20 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 1,216,850      $ 1,424,969      $ 1,743,104      $ 1,106,602      $ 894,468  

Ratios to average net assets6 of:

 

Expenses7

     0.63      0.63      0.63      0.63      0.63

Net investment income

     4.05      3.81      2.88      3.36      3.13

Portfolio turnover rate5

     47      40      48      47      52
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

Effective June 30, 2017, the investment advisor contractually agreed to limit the advisory fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the Trust.

 

5 

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

 

6 

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

 

7 

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

 

See Notes to Financial Statements.

 

104   WisdomTree Trust


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree Global ex-U.S. Quality
Dividend Growth Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 55.60      $ 59.03      $ 50.03      $ 47.16      $ 50.80  

Investment operations:

 

Net investment income1

     1.60        1.17        1.24        1.14        1.02  

Net realized and unrealized gain (loss)

     (2.62      (3.34      8.79        2.94        (3.75

Total from investment operations

     (1.02      (2.17      10.03        4.08        (2.73

Dividends to shareholders:

 

Net investment income

     (1.44      (1.26      (1.03      (1.21      (0.91

Net asset value, end of year

   $ 53.14      $ 55.60      $ 59.03      $ 50.03      $ 47.16  

TOTAL RETURN2

     (2.01 )%       (3.65 )%       20.18      8.80      (5.42 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 95,661      $ 72,280      $ 70,841      $ 50,031      $ 66,026  

Ratios to average net assets3 of:

 

Expenses

     0.58 %4       0.58 %4       0.58 %4       0.58      0.58 %4,5 

Net investment income

     2.68      2.11      2.20      2.39      2.15

Portfolio turnover rate6

     56      60      67      66      61

 

           
WisdomTree Global ex-U.S. Real
Estate Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 32.15      $ 32.04      $ 28.16      $ 27.26      $ 29.65  

Investment operations:

 

Net investment income1

     1.13        1.12        1.11        1.06        0.89  

Net realized and unrealized gain (loss)

     (8.79      0.24        4.92        1.35        (2.08

Total from investment operations

     (7.66      1.36        6.03        2.41        (1.19

Dividends to shareholders:

 

Net investment income

     (2.38      (1.25      (2.15      (1.51      (1.20

Net asset value, end of year

   $ 22.11      $ 32.15      $ 32.04      $ 28.16      $ 27.26  

TOTAL RETURN2

     (25.74 )%       4.51      21.90      9.33 %7       (3.89 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 80,703      $ 114,146      $ 107,329      $ 83,060      $ 94,044  

Ratios to average net assets3 of:

 

Expenses

     0.58      0.58      0.58      0.58      0.58 %5 

Net investment income

     3.75      3.72      3.56      3.86      3.22

Portfolio turnover rate6

     21      17      23      19      32
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio would have been unchanged.

 

6 

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

 

7 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      105  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree Global High Dividend
Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 46.11      $ 46.38      $ 44.75      $ 40.84      $ 44.23  

Investment operations:

 

Net investment income1

     1.78        1.77        1.59        1.46        1.76  

Net realized and unrealized gain (loss)

     (11.79      (0.18      1.54        3.97        (3.43

Total from investment operations

     (10.01      1.59        3.13        5.43        (1.67

Dividends to shareholders:

 

Net investment income

     (1.77      (1.86      (1.50      (1.52      (1.72

Net asset value, end of year

   $ 34.33      $ 46.11      $ 46.38      $ 44.75      $ 40.84  

TOTAL RETURN2

     (22.46 )%       3.59      7.02      13.54      (3.77 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 66,952      $ 92,227      $ 104,358      $ 89,510      $ 73,511  

Ratios to average net assets3 of:

 

Expenses

     0.58 %4       0.58 %4       0.58 %4       0.58      0.58 %4,5 

Net investment income

     3.88      3.86      3.41      3.42      4.19

Portfolio turnover rate6

     32      19      21      21      56

 

           
WisdomTree India Earnings Fund
(consolidated)
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 26.26      $ 25.88      $ 24.07      $ 19.42      $ 22.64  

Investment operations:

 

Net investment income1

     0.30        0.28        0.24        0.23        0.26  

Net realized and unrealized gain (loss)

     (10.18      0.45        1.79        4.70        (3.26

Total from investment operations

     (9.88      0.73        2.03        4.93        (3.00

Dividends and distributions to shareholders:

 

Net investment income

     (0.19      (0.34      (0.22      (0.28      (0.22

Tax return of capital

            (0.01                     

Total dividends and distributions to shareholders

     (0.19      (0.35      (0.22      (0.28      (0.22

Net asset value, end of year

   $ 16.19      $ 26.26      $ 25.88      $ 24.07      $ 19.42  

TOTAL RETURN2

     (37.84 )%       2.89      8.46      25.56      (13.31 )%7 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 563,317      $ 1,323,424      $ 1,671,567      $ 1,564,606      $ 1,475,616  

Ratios to average net assets of:

 

Expenses8

     0.84 %3,4       0.85      0.84      0.84      0.84

Net investment income

     1.22 %3       1.14      0.91      1.09      1.28

Portfolio turnover rate6

     32      37      22      30      38
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio would have been unchanged.

 

6 

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

 

7 

Includes a reimbursement from the sub-advisor for operating losses on a creation that took place during the period when the NAV was understated. Excluding the reimbursement, total return would have been unchanged.

 

8 

Includes interest expense of 0.01%, 0.01%, 0.01%, 0.01% and 0.01% for the fiscal years ended 2020, 2019, 2018, 2017 and 2016, respectively.

 

See Notes to Financial Statements.

 

106   WisdomTree Trust


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree India ex-State-Owned Enterprises Fund   

For the Period

April 4, 2019*

through

March 31, 2020

 

Net asset value, beginning of period

   $ 24.67  

Investment operations:

 

Net investment income1

     0.19  

Net realized and unrealized loss

     (7.22

Total from investment operations

     (7.03

Dividends to shareholders:

 

Net investment income

      

Net asset value, end of period

   $ 17.64  

TOTAL RETURN2

     (28.50 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 882  

Ratios to average net assets of:

 

Expenses

     0.58 %3 

Net investment income

     0.80 %3 

Portfolio turnover rate4

     82

 

           
WisdomTree Middle East Dividend
Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 20.47      $ 18.78      $ 17.60      $ 17.28      $ 20.25  

Investment operations:

 

Net investment income1

     0.61        0.86        0.58        0.59        0.58  

Net realized and unrealized gain (loss)

     (4.94      1.59        1.06        0.50        (2.85

Total from investment operations

     (4.33      2.45        1.64        1.09        (2.27

Dividends to shareholders:

 

Net investment income

     (0.65      (0.76      (0.46      (0.77      (0.70

Net asset value, end of year

   $ 15.49      $ 20.47      $ 18.78      $ 17.60      $ 17.28  

TOTAL RETURN2

     (21.76 )%       13.41 %5       9.49 %6       6.60      (11.57 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 13,942      $ 20,473      $ 15,024      $ 17,601      $ 20,731  

Ratios to average net assets of:

 

Expenses

     0.88      0.88      0.88      0.88      0.88

Net investment income

     3.06      4.45      3.28      3.44      3.13

Portfolio turnover rate4

     42      30      46      29      25
* 

Commencement of operations.

 

1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.

 

3 

Annualized.

 

4 

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

 

5 

Includes a voluntary reimbursement from the sub-advisor for an operational error. Excluding the reimbursement, total return would have been 0.05% lower.

 

6 

Includes a reimbursement from the sub-advisor for an operational error. Excluding the reimbursement, total return would have been unchanged.

 

See Notes to Financial Statements.

 

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Table of Contents

Financial Highlights (concluded)

WisdomTree Trust

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

 

 

WisdomTree Modern Tech Platforms Fund   

For the Period

May 22, 2019*

through

March 31, 2020

 

Net asset value, beginning of period

   $ 24.80  

Investment operations:

 

Net investment income1

     0.06  

Net realized and unrealized loss

     (1.44

Total from investment operations

     (1.38

Dividends to shareholders:

 

Net investment income

     (0.08

Net asset value, end of period

   $ 23.34  

TOTAL RETURN2

     (5.61 )% 

RATIOS/SUPPLEMENTAL DATA:

 

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

   $ 1,751  

Ratios to average net assets of:

 

Expenses

     0.45 %3 

Net investment income

     0.27 %3 

Portfolio turnover rate4

     9
* 

Commencement of operations.

 

1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.

 

3 

Annualized.

 

4 

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

 

See Notes to Financial Statements.

 

108   WisdomTree Trust


Table of Contents

Notes to Financial Statements

 

1. ORGANIZATION

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

 

   
Fund    Commencement
of Operations
 

WisdomTree Asia Pacific ex-Japan Fund (“Asia Pacific ex-Japan Fund’’)

     June 16, 2006  

WisdomTree China ex-State-Owned Enterprises Fund (“China ex-State-Owned Enterprises Fund’’)

     September 19, 2012  

WisdomTree Emerging Markets Consumer Growth Fund (“Emerging Markets Consumer Growth Fund’’)

     September 27, 2013  

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (“Emerging Markets ex-State-Owned Enterprises Fund’’)

     December 10, 2014  

WisdomTree Emerging Markets High Dividend Fund (“Emerging Markets High Dividend Fund’’)

     July 13, 2007  

WisdomTree Emerging Markets Multifactor Fund (“Emerging Markets Multifactor Fund’’)

     August 10, 2018  

WisdomTree Emerging Markets Quality Dividend Growth Fund (“Emerging Markets Quality Dividend Growth Fund’’)

     August 1, 2013  

WisdomTree Emerging Markets SmallCap Dividend Fund (“Emerging Markets SmallCap Dividend Fund’’)

     October 30, 2007  

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (“Global ex-U.S. Quality Dividend Growth Fund’’)

     June 16, 2006  

WisdomTree Global ex-U.S. Real Estate Fund (“Global ex-U.S. Real Estate Fund’’)

     June 5, 2007  

WisdomTree Global High Dividend Fund (“Global High Dividend Fund’’)

     June 16, 2006  

WisdomTree India Earnings Fund (“India Earnings Fund’’) (consolidated)

     February 22, 2008  

WisdomTree India ex-State-Owned Enterprises Fund (“India ex-State Owned Enterprises Fund’’)

     April 4, 2019  

WisdomTree Middle East Dividend Fund (“Middle East Dividend Fund’’)

     July 16, 2008  

WisdomTree Modern Tech Platforms Fund (“Modern Tech Platforms Fund’’)

     May 22, 2019  

The India Earnings Fund makes its investments through the WisdomTree India Investment Portfolio, Inc. (the “Portfolio”), a wholly owned subsidiary organized in the Republic of Mauritius (“Mauritius”). The Portfolio was incorporated under the provisions of the Mauritius Companies Act, 2001 and holds a Global Business License Category 1 issued by the Financial Services Commission. The Portfolio is advised by WisdomTree Asset Management, Inc. (“WTAM”) and is sub-advised by Mellon Investments Corporation (“Mellon”).

Each Fund, except for the Emerging Markets Consumer Growth Fund, Emerging Markets Multifactor Fund and Emerging Markets Quality Dividend Growth Fund, seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree Investments, Inc. (“WisdomTree Investments’’). The Emerging Markets Consumer Growth Fund and Emerging Markets Quality Dividend Growth Fund are actively managed using a model-based approach seeking income and capital appreciation. The Emerging Markets Multifactor Fund is actively managed using a model-based approach seeking capital appreciation. WisdomTree Investments is the parent company of WTAM, the investment adviser to each Fund and the Trust. “WisdomTree” is a registered trademark of WisdomTree Investments and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act. The securities in each Index are weighted based on earnings or earnings yield.

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

2. SIGNIFICANT ACCOUNTING POLICIES

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

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

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

 

WisdomTree Trust      109  


Table of Contents

Notes to Financial Statements (continued)

 

Basis of Consolidation — The financial statements for the India Earnings Fund include the accounts of a wholly-owned and controlled Mauritius subsidiary (the “Subsidiary”). The Fund’s accompanying financial statements reflect the financial position and the results of operations on a consolidated basis with its Subsidiary. All intercompany accounts and transactions have been eliminated in the consolidation.

Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g. broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last quoted sale price or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Foreign currency contracts are valued daily using WM/Reuters closing spot and forward rates as of 4:00 p.m. London time for all Funds except for the China ex-State-Owned Enterprises Fund which is valued daily using WM/Reuters closing spot and forward rates as of 2:00 p.m. Singapore time.

In certain instances, such as when reliable market valuations are not readily available, a Fund’s investments, which include derivatives, will be fair valued in accordance with the Fund’s pricing policy. The Board of Trustees has established a pricing committee (the “Pricing Committee”) which is comprised of senior representatives of WTAM and which reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from a national securities exchange, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Pricing Committee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities. On March 16, 2020, Jordan’s government suspended trading on the Amman Stock Exchange (“ASE”) for an indefinite period of time due to the spread of the novel coronavirus known as COVID-19. As of March 31, 2020, trading on the ASE remained suspended, which resulted in the ASE listed stocks held in the Middle East Dividend Fund requiring “fair value” pricing. On May 10, 2020, trading on the ASE resumed.

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

Level 1 – quoted prices in active markets for identical securities

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

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)

 

110   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

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

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

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

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

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

The following is a summary of the fair valuations according to the inputs used as of March 31, 2020 in valuing each Fund’s assets:

 

       
Asia Pacific ex-Japan Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 20,895,287      $      $  

Exchange-Traded Fund

     163,964                

Investment of Cash Collateral for Securities Loaned

            27,000         

Total

   $ 21,059,251      $ 27,000      $  

Unrealized Appreciation on Foreign Currency Contracts

            159         

Unrealized Depreciation on Foreign Currency Contracts

            (7       

Total - Net

   $ 21,059,251      $ 27,152      $  
        
       
China ex-State-Owned Enterprises Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Energy Equipment & Services

   $      $      $ 0 ** 

Other*

     188,298,009                

Investment of Cash Collateral for Securities Loaned

            2,196,509         

Total

   $ 188,298,009      $ 2,196,509      $ 0  

Unrealized Depreciation on Foreign Currency Contracts

            0         

Total - Net

   $ 188,298,009      $ 2,196,509      $ 0  

 

WisdomTree Trust      111  


Table of Contents

Notes to Financial Statements (continued)

 

       
Emerging Markets Consumer Growth Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Indonesia

   $ 914,906      $      $ 2,081 ** 

Other*

     26,010,102                

Rights

                   0 ** 

Investment of Cash Collateral for Securities Loaned

            274,517         

Total

   $ 26,925,008      $ 274,517      $ 2,081  
        
       
Emerging Markets ex-State-Owned Enterprises Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

China

   $ 329,407,370      $      $ 0 ** 

Other*

     478,333,763                

Warrants

     3,096                

Investment of Cash Collateral for Securities Loaned

            12,965,657         

Total

   $ 807,744,229      $ 12,965,657      $ 0  
        
       
Emerging Markets High Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 1,632,306,459      $      $  

Exchange-Traded Fund

     874,659                

Investment of Cash Collateral for Securities Loaned

            15,638,623         

Total

   $ 1,633,181,118      $ 15,638,623      $  

Unrealized Appreciation on Foreign Currency Contracts

            1,856         

Total - Net

   $ 1,633,181,118      $ 15,640,479      $  
        
       
Emerging Markets Multifactor Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 7,087,376      $      $  

Total

   $ 7,087,376      $      $  

Unrealized Appreciation on Foreign Currency Contracts

            16,187         

Unrealized Depreciation on Foreign Currency Contracts

            (35,719       

Total - Net

   $ 7,087,376      $ (19,532    $  
        
       
Emerging Markets Quality Dividend Growth Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 69,672,313      $      $  

Investment of Cash Collateral for Securities Loaned

            42,799         

Total

   $ 69,672,313      $ 42,799      $  

Unrealized Appreciation on Foreign Currency Contracts

            767         

Unrealized Depreciation on Foreign Currency Contracts

            (79       

Total - Net

   $ 69,672,313      $ 43,487      $  

 

112   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

       
Emerging Markets SmallCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

China

   $ 284,810,342      $      $ 199,042 ** 

Hong Kong

     16,756,200               0 ** 

Philippines

     11,718,031               3,612 ** 

South Korea

     101,656,594               228,484 ** 

Other*

     790,717,536                

Warrants

     38,450                

Exchange-Traded Fund

     2,677,653                

Investment of Cash Collateral for Securities Loaned

            19,373,838         

Total

   $ 1,208,374,806      $ 19,373,838      $ 431,138  

Unrealized Depreciation on Foreign Currency Contracts

            (550       

Total - Net

   $ 1,208,374,806      $ 19,373,288      $ 431,138  
        
       
Global ex-U.S. Quality Dividend Growth Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Australia

   $ 6,475,281      $ 59,072      $  

United Kingdom

     14,919,101               2 ** 

Other*

     73,197,167                

Exchange-Traded Funds

     315,963                

Investment of Cash Collateral for Securities Loaned

            2,349,390         

Total

   $ 94,907,512      $ 2,408,462      $ 2  

Unrealized Appreciation on Foreign Currency Contracts

            1,631         

Unrealized Depreciation on Foreign Currency Contracts

            (184       

Total - Net

   $ 94,907,512      $ 2,409,909      $ 2  
        
       
Global ex-U.S. Real Estate Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Philippines

   $ 328,194      $      $ 107 ** 

Other*

     80,094,134                

Rights

            0         

Investment of Cash Collateral for Securities Loaned

            563,441         

Total

   $ 80,422,328      $ 563,441      $ 107  

Unrealized Appreciation on Foreign Currency Contracts

            109         

Unrealized Depreciation on Foreign Currency Contracts

            (3       

Total - Net

   $ 80,422,328      $ 563,547      $ 107  
        
       
Global High Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 66,296,893      $      $  

Exchange-Traded Funds

     265,100                

Investment of Cash Collateral for Securities Loaned

            1,818,703         

Total

   $ 66,561,993      $ 1,818,703      $  

Unrealized Appreciation on Foreign Currency Contracts

            256         

Unrealized Depreciation on Foreign Currency Contracts

            (468       

Total - Net

   $ 66,561,993      $ 1,818,491      $  

 

WisdomTree Trust      113  


Table of Contents

Notes to Financial Statements (continued)

 

       
India Earnings Fund (consolidated)    Level 1      Level 2      Level 3  

Common Stocks

                          

Chemicals

   $ 14,734,530      $      $ 5,880 ** 

Hotels, Restaurants & Leisure

     892,811        25,814         

Other*

     544,096,221                

Exchange-Traded Fund

     19,463                

Total

   $ 559,743,025      $ 25,814      $ 5,880  
        
       
India ex-State Owned Enterprises Fund    Level 1      Level 2      Level 3  

Common Stocks

   $ 881,746      $      $  

Total

   $ 881,746      $      $  
        
       
Middle East Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Jordan

   $      $      $ 501,318 ** 

Other*

     13,199,590                

Total

   $ 13,199,590      $      $ 501,318  
        
       
Modern Tech Platforms Fund    Level 1      Level 2      Level 3  

Common Stocks

   $ 1,746,347      $      $  

Investment of Cash Collateral for Securities Loaned

            169,198         

Total

   $ 1,746,347      $ 169,198      $  

Unrealized Appreciation on Foreign Currency Contracts

            4         

Unrealized Depreciation on Foreign Currency Contracts

            (6       

Total - Net

   $ 1,746,347      $ 169,196      $  

 

  *

Please refer to the Schedule of Investments for a breakdown of the valuation by industry type and/or country.

 

  **

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

The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:

 

   
     Common Stocks  
      Jordan  

Middle East Dividend Fund

  

Balance as of March 31, 2019

   $  

Realized gain (loss)

     (22,749

Change in unrealized appreciation (depreciation)

     (152,049

Purchases

     273,963  

Sales

     (207,930

Transfers into Level 3

     610,083  

Transfers out of Level 3

      

Balance as of March 31, 2020

   $ 501,318  

Net change in unrealized appreciation (depreciation) from investments still held as of March 31, 2020 is:

   $ (152,049

The following is a summary of the significant unobservable inputs used as of March 31, 2020 in valuing Level 3 securities:

 

               
Fund   Value     Valuation
Approach
    Valuation Technique     Unobservable Input     Range of Input Values     Weighted
Average of
Input Values
    Impact to
Fair Value
from an
Increase
in Input
 

Middle East Dividend Fund

                     

Common Stocks

                                                                                       

Jordan

  $ 501,318       Market       Market Comparable      
Percent change in value
of comparable benchmarks
 
 
    -11.72%                     9.37%               2.41%       Increase  

Total

  $ 501,318                                                                                  

 

114   WisdomTree Trust


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Notes to Financial Statements (continued)

 

Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in derivatives, specifically foreign currency contracts and equity futures contracts during the year or period ended March 31, 2020 and open positions in such derivatives as of March 31, 2020 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to risk. Risks may arise upon entering into foreign currency contracts from potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar or each other. The Funds’ derivative agreements also contain credit-risk related contingent features which include, but are not limited to, a percentage decline in the Funds’ NAV over a specified time period. If an event occurred at March 31, 2020 that triggered a contingent feature, the counterparty to the agreement may require the Funds to post additional collateral or terminate the derivative positions and demand payment. Any collateral posted with respect to the derivative positions would be used to offset or reduce the payment. The maximum exposure to derivatives agreements with credit-risk related contingent features would be the total value of derivatives in net liability positions for each Fund, as disclosed on page 120. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of March 31, 2020, if any, is reflected as a footnote below the respective derivatives tables on each Fund’s Schedule of Investments.

As of March 31, 2020, the effects of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are presented in the summary below:

 

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

Asia Pacific ex-Japan Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
   $ 159      Unrealized depreciation on
foreign currency contracts
   $ 7  

Emerging Markets High Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     1,856      Unrealized depreciation on
foreign currency contracts
      

Emerging Markets Multifactor Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     16,187      Unrealized depreciation on
foreign currency contracts
     35,719  

Emerging Markets Quality Dividend Growth Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     767      Unrealized depreciation on
foreign currency contracts
     79  

Emerging Markets SmallCap Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
          Unrealized depreciation on
foreign currency contracts
     550  

Global ex-U.S. Quality Dividend Growth Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     1,631      Unrealized depreciation on
foreign currency contracts
     184  

Global ex-U.S. Real Estate Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     109      Unrealized depreciation on
foreign currency contracts
     3  

Global High Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     256      Unrealized depreciation on
foreign currency contracts
     468  

Modern Tech Platforms Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     4      Unrealized depreciation on
foreign currency contracts
     6  

For the fiscal year or period ended March 31, 2020, the effects of derivative instruments on each Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

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

Asia Pacific ex-Japan Fund

     

Foreign exchange contracts

   $ (22,580    $ 152  

China ex-State-Owned Enterprises Fund

     

Foreign exchange contracts

     (27,395       

 

WisdomTree Trust      115  


Table of Contents

Notes to Financial Statements (continued)

 

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

Emerging Markets Consumer Growth Fund

     

Foreign exchange contracts

   $ 13,537      $  

Emerging Markets ex-State-Owned Enterprises Fund

     

Foreign exchange contracts

     (204,618       

Emerging Markets High Dividend Fund

     

Foreign exchange contracts

     220,774        (5,354

Emerging Markets Multifactor Fund

     

Foreign exchange contracts

     (239,449      (41,118

Equity contracts

     (3,696       

Emerging Markets Quality Dividend Growth Fund

     

Foreign exchange contracts

     23,845        690  

Emerging Markets SmallCap Dividend Fund

     

Foreign exchange contracts

     138,399        (550

Global ex-U.S. Quality Dividend Growth Fund

     

Foreign exchange contracts

     (48,345      1,447  

Global ex-U.S. Real Estate Fund

     

Foreign exchange contracts

     (4,126      106  

Global High Dividend Fund

     

Foreign exchange contracts

     (2,143      (231

India Earnings Fund (consolidated)

     

Foreign exchange contracts

     (387,754       

India ex-State Owned Enterprises Fund3

     

Foreign exchange contracts

     (10,254       

Equity contracts

     663         

Middle East Dividend Fund

     

Foreign exchange contracts

     (14,715       

Modern Tech Platforms Fund4

     

Foreign exchange contracts

     166        (2
  1 

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

 

Foreign exchange contracts

   Net realized gain (loss) from foreign currency contracts

 

  2 

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

 

Foreign exchange contracts

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

 

  3 

For the period April 4, 2019 (commencement of operations) through March 31, 2020.

 

  4 

For the period May 22, 2019 (commencement of operations) through March 31, 2020.

During the fiscal year or period ended March 31, 2020, the volume of derivative activity (based on the average of month-end balances, except where footnoted) for each Fund was as follows:

 

   
     Average Notional  
Fund    Foreign currency
contracts
(to deliver
USD)
    

Foreign currency
contracts
(to receive

USD)

     Futures
contracts
(long)
 

Asia Pacific ex-Japan Fund

        

Foreign exchange contracts

   $      $ 10,509      $  

China ex-State-Owned Enterprises Fund

        

Foreign exchange contracts

     190,138        9,886         

Emerging Markets Consumer Growth Fund

        

Foreign exchange contracts

            4,594         

Emerging Markets ex-State-Owned Enterprises Fund

        

Foreign exchange contracts

     1,816,771        17,355         

Emerging Markets High Dividend Fund

        

Foreign exchange contracts

     798,127        811,697         

Emerging Markets Multifactor Fund

        

Equity contracts1

                   4,267  

Foreign exchange contracts

     2,368,105        7,930,718         

 

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Notes to Financial Statements (continued)

 

   
     Average Notional  
Fund    Foreign currency
contracts
(to deliver
USD)
    

Foreign currency
contracts
(to receive

USD)

     Futures
contracts
(long)
 

Emerging Markets Quality Dividend Growth Fund

        

Foreign exchange contracts

   $ 213,810      $ 37,424      $  

Emerging Markets SmallCap Dividend Fund

        

Foreign exchange contracts

     2,148,044        491,552         

Global ex-U.S. Quality Dividend Growth Fund

        

Foreign exchange contracts

     93,397        37,638         

Global ex-U.S. Real Estate Fund

        

Foreign exchange contracts

     45,768        15,750         

Global High Dividend Fund

        

Foreign exchange contracts

     7,001        7,225         

India Earnings Fund (consolidated)

        

Foreign exchange contracts

            1,272,238         

India ex-State Owned Enterprises Fund1

        

Equity contracts2

                   3,565  

Foreign exchange contracts2

     197,547        94,198         

Middle East Dividend Fund

        

Foreign exchange contracts

     10,087        14,541         

Modern Tech Platforms Fund3

        

Foreign exchange contracts2

     4,617                

 

  1 

For the period April 4, 2019 (commencement of operations) through March 31, 2020.

 

  2 

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

 

  3 

For the period May 22, 2019 (commencement of operations) through March 31, 2020.

Investment Transactions and Investment Income Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income (net of foreign taxes withheld, if any) is recognized on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. Non-cash dividend income is recognized at the fair value of securities received on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. On each measurement date, the Funds evaluate the collectability of receivable balances. Generally, the Funds will write-off dividend receivable balances that are canceled by the issuer as of the date that the dividend receivable cancellation notification was publicly made available or when it becomes probable that dividends will not be collected and the amount of uncollectable dividends can be reasonably estimated. Interest income (including amortization of premiums and accretion of discounts), net of any foreign taxes withheld, is accrued daily. Generally, amortization of premiums and accretion of discounts are recognized daily using the effective interest method (also known as the scientific amortization method). Income earned from securities lending activities (i.e. securities lending income), net of fees payable to the securities borrower and/or securities lending agent, is accrued daily. As of March 31, 2020, the Global High Dividend Fund has reduced dividend receivable and dividend income balances by the amount of canceled dividends.

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates prevailing on the respective dates of such transactions that are deemed appropriate by WTAM. Realized and unrealized foreign exchange gains and losses on investments are included as a component of net realized gain (loss) from investment transactions and net increase (decrease) in unrealized appreciation (depreciation) from investment transactions, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses from foreign currency contracts are included in net realized gain (loss) from foreign currency contracts and net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies, currency gains or losses recognized between the trade and settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in net realized gain (loss) from foreign currency related transactions and/or increase (decrease) in unrealized appreciation (depreciation) from translation of assets and liabilities denominated in foreign currencies in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.

Expenses/Reimbursements — Under the investment advisory agreement for each Fund, except for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened

 

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Table of Contents

Notes to Financial Statements (continued)

 

arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of trustees who are not interested persons of the Funds (“Independent Trustees”); (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s Chief Compliance Officer (‘‘CCO’’); (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

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

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

Interest expense associated with a short term loan from a U.S. bank that is incurred in connection with the execution of portfolio rebalancing trades is not paid by WTAM.

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

Currency Transactions — The Funds may enter into foreign currency contracts to facilitate local securities settlements or to protect against currency exposure. The Funds, other than the Emerging Markets Multifactor Fund, do not expect to engage in currency transactions for the purpose of hedging against currency exposures of the Fund’s assets that are denominated in one or more foreign currencies. The Funds may not enter into such contracts for speculative purposes.

Forward Foreign Currency Contracts — The Funds utilized forward foreign currency contracts (‘‘Forward Contracts’’) primarily to facilitate foreign security settlements. A Forward Contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A Forward Contract generally does not require an initial margin deposit and no commissions are charged at any stage for trades. However, if a Fund is in an unrealized loss position on a Forward Contract, it may be required to pledge collateral (or additional collateral) to the counterparty. If a Fund is in an unrealized gain position on a Forward Contract, it may receive collateral from the counterparty.

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

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

Futures Contracts — The Emerging Markets Multifactor Fund utilized equity futures contracts on a temporary basis during the fiscal period to obtain market exposure consistent with its investment objective. The India ex-State Owned Enterprises Fund utilized equity futures contracts on a temporary basis during the fiscal period to obtain market exposure consistent with its investment objectives during the Fund’s annual portfolio rebalance. When a Fund purchases a listed futures contract, it agrees to purchase a specified reference asset (e.g., commodity, currency or Treasury security) at a specified future date. When a Fund sells a listed futures contract, it agrees to sell a specified reference asset (e.g., commodity, currency or Treasury security) at a specified future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. The exchange clearing corporation is the ultimate counterparty for all exchange-listed contracts, so credit risk is limited to the creditworthiness of the exchange’s clearing corporation.

Upon entering into a futures contract, a Fund is required to deliver to a broker an amount of cash and/or government securities equal to a certain percentage of the contract amount. This amount is known as the “initial margin”. Subsequent payments, known as “variation margin”, generally are made or received by the Fund each day or at other agreed-upon time periods depending on the

 

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Notes to Financial Statements (continued)

 

fluctuations in the value of the underlying futures contracts, except that in the case of certain futures contracts variation margin payments may be made or received when the futures contract expires. Variation margin is recorded for financial statement purposes on a daily basis as an unrealized gain or loss on futures until the financial futures contract is closed, at which time the net gain or loss is reclassified to realized gain or loss on futures. When a Fund purchases or sells a futures contract, the Fund is required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, a Fund will segregate assets consisting of, or take other measures with respect to, cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, will “cover” its position in a manner consistent with the 1940 Act or the rules and SEC interpretations thereunder. This will function as a practical limit on the amount of leverage which a Fund may undertake and on the potential increase in the speculative character of a Fund’s outstanding portfolio securities.

As of March 31, 2020, there were no open futures contracts in the Funds.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high-grade debt obligations, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower.

Master Netting Arrangements — FASB ASC Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter derivatives (“OTC”), such as Forward Contracts, and typically contains, among other things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.

Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g. foreign exchange contracts, options and certain swaps). Generally, for transactions traded under an ISDA Master Agreement, the collateral requirements are calculated by netting the marked to market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by a Fund and the counterparty. Generally, the amount of collateral due from or to a counterparty must exceed a minimum transfer amount threshold before a transfer is required to be made. To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from a counterparty’s non-performance.

 

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Notes to Financial Statements (continued)

 

The Funds’ security lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower.

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2020, the impact of netting of assets and liabilities and the offsetting of collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending Agreement are detailed in the following table:

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
    Net Amount    

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not
Offset
in the Statements of
Assets and Liabilities
    Net Amount  
Fund   Financial
Instruments
    Collateral
Received
    Financial
Instruments
    Collateral
Posted
 

Asia Pacific ex-Japan Fund

               

Securities Lending

  $ 994,575     $     $ (994,575 )1    $     $     $     $       —     $  

Foreign Currency Contracts

    159       (7           152       7       (7            

China ex-State-Owned Enterprises Fund

               

Securities Lending

    10,926,671             (10,926,671 )1                               

Foreign Currency Contracts

                                               

Emerging Markets Consumer Growth Fund

               

Securities Lending

    670,293             (670,293 )1                               

Emerging Markets ex-State-Owned Enterprises Fund

               

Securities Lending

    18,904,651             (18,904,651 )1                               

Emerging Markets High Dividend Fund

               

Securities Lending

    105,201,828             (105,201,828 )1                               

Foreign Currency Contracts

    1,856                   1,856                          

Emerging Markets Multifactor Fund

               

Foreign Currency Contracts

    16,187       (4,620           11,567       35,719       (4,620           31,099  

Emerging Markets Quality Dividend Growth Fund

               

Securities Lending

    1,281,705             (1,281,705 )1                               

Foreign Currency Contracts

    767                   767       79                   79  

Emerging Markets SmallCap Dividend Fund

               

Securities Lending

    162,816,942             (162,816,942 )1                               

Foreign Currency Contracts

                            550                   550  

Global ex-U.S. Quality Dividend Growth Fund

               

Securities Lending

    6,640,657             (6,640,657 )1                               

Foreign Currency Contracts

    1,631       (10           1,621       184       (10           174  

Global ex-U.S. Real Estate Fund

               

Securities Lending

    1,849,442             (1,849,442 )1                               

Foreign Currency Contracts

    109       (2           107       3       (2           1  

Global High Dividend Fund

               

Securities Lending

    3,278,847             (3,278,847 )1                               

Foreign Currency Contracts

    256       (256                 468       (256           212  

Modern Tech Platforms Fund

               

Securities Lending

    329,200             (329,200 )1                               

Foreign Currency Contracts

    4                   4       6                   6  
  1

The amount of collateral presented has been limited such that the net amount by counterparty cannot be less than zero.

 

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Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Restricted Securities — Each Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities, if any, is included at the end of each Fund’s Schedule of Investments.

Emerging Market and Frontier Market Investments — Investments in securities listed and traded in emerging markets are subject to additional risks that may not be present for U.S. investments or investments in more developed non-U.S. markets. Such risks may include: (i) greater market volatility; (ii) lower trading volume; (iii) greater social, political and economic uncertainty; (iv) governmental controls on foreign investments and limitations on repatriation of invested capital; (v) the risk that companies may be held to lower disclosure, corporate governance, auditing and financial reporting standards than companies in more developed markets; and (vi) the risk that there may be less protection of property rights than in other countries. Emerging markets are generally less liquid and less efficient than developed securities markets.

The economies of “frontier markets” (e.g., Bahrain, Egypt, Jordan, Kuwait, Morocco, Oman, Qatar, Saudi Arabia, and the United Arab Emirates) generally have lower trading volumes and greater potential for illiquidity and price volatility than more developed markets. These markets have a smaller number of issuers and participants and therefore may also be affected to a greater extent by the actions of a small number of issuers and investors. A significant change in cash flows investing in these markets could have a substantial effect on local stock prices and, therefore, prices of Fund shares. Investments in certain frontier market countries are restricted or controlled to varying extents. At times, these restrictions or controls may limit or prevent foreign investment and/or increase the investment costs and expenses of a Fund. Frontier markets may be subject to greater political instability, threat of war or terrorism and government intervention than more developed markets, including many emerging market economies. Frontier markets generally are not as correlated to global economic cycles as those of more developed countries. These and other factors make investing in the frontier market countries significantly riskier than investing in developed market and emerging market countries.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with the requirements of the Code and the U.S. Treasury regulations. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital. The India Earnings Fund has filed an election to treat the Portfolio as a ‘‘pass-through’’ entity for tax purposes.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon to provide sub-advisory services to the Funds. Mellon is compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

 

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Notes to Financial Statements (continued)

 

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

WTAM expects to receive advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:

 

       
Fund   

Advisory

Fee Rate

(before fee waiver)

    

Advisory

Fee Waiver

    

Advisory Fee
Waiver

Expiration Date

 

Asia Pacific ex-Japan Fund

     0.48              

China ex-State-Owned Enterprises Fund

     0.63      (0.31 )%       July 31, 2020  

Emerging Markets Consumer Growth Fund

     0.63      (0.31 )%       July 31, 2020  

Emerging Markets ex-State-Owned Enterprises Fund

     0.58      (0.26 )%       July 31, 2020  

Emerging Markets High Dividend Fund

     0.63              

Emerging Markets Multifactor Fund

     0.48                

Emerging Markets Quality Dividend Growth Fund

     0.63      (0.31 )%       July 31, 2020  

Emerging Markets SmallCap Dividend Fund

     0.63              

Global ex-U.S. Quality Dividend Growth Fund

     0.58              

Global ex-U.S. Real Estate Fund

     0.58              

Global High Dividend Fund

     0.58              

India Earnings Fund (consolidated)

     0.83              

India ex-State Owned Enterprises Fund

     0.58                

Middle East Dividend Fund

     0.88              

Modern Tech Platforms Fund

     0.45                

Each Fund may purchase shares of affiliated ETFs in secondary market transactions to reduce cash balances. Transactions in shares of affiliated ETFs for the fiscal year ended March 31, 2020, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM waives its advisory fees for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (fund accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are shown in the Statements of Operations in “Expense waivers”.

WTAM or its affiliates may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2020, WTAM held shares of and received distributions from the following Funds which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

       
Fund    Fund Shares
held by WTAM
     Market Value of
Fund Shares
held by WTAM
     Dividends and
Distributions paid to
WTAM on
Fund Shares
held by WTAM
 

Emerging Markets ex-State-Owned Enterprises Fund

     967      $ 23,614      $ 588  

Emerging Markets High Dividend Fund

     180        5,805        43  

Emerging Markets Multifactor Fund

                   382  

Emerging Markets Quality Dividend Growth Fund

     123        2,367        21  

Emerging Markets SmallCap Dividend Fund

     360        11,891        712  

Middle East Dividend Fund

     23        352        2  

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2020, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof. Except when aggregated in creation units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities and/or an amount of cash. The India Earnings Fund, India ex-State Owned Enterprises Fund and Middle East Dividend Fund issue and redeem shares on a cash basis only as certain securities markets in which these Funds invest do not permit in-kind transfers of securities. Investors purchasing and redeeming creation units may be charged a purchase transaction fee and a

 

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redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year or period ended March 31, 2020 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

Asia Pacific ex-Japan Fund

   $ 6,243,923      $ 8,428,243      $      $ 4,365,634  

China ex-State-Owned Enterprises Fund

     77,036,691        33,518,613        25,370,574        14,195,776  

Emerging Markets Consumer Growth Fund

     18,458,553        19,353,256        2,081,118        2,832,627  

Emerging Markets ex-State-Owned Enterprises Fund

     489,060,693        100,895,862        269,444,923         

Emerging Markets High Dividend Fund

     933,734,058        872,998,677        73,883,109        60,702,134  

Emerging Markets Multifactor Fund

     31,708,795        35,315,836        3,694,972        8,679,220  

Emerging Markets Quality Dividend Growth Fund

     51,323,552        37,736,336        10,134,876        4,560,797  

Emerging Markets SmallCap Dividend Fund

     935,720,086        730,829,241        156,788,478        48,448,893  

Global ex-U.S. Quality Dividend Growth Fund

     59,151,694        47,757,395        42,458,568        21,944,620  

Global ex-U.S. Real Estate Fund

     21,801,130        22,326,809        4,258,727        4,620,221  

Global High Dividend Fund

     30,568,030        28,195,386               4,440,812  

India Earnings Fund (consolidated)

     361,254,472        725,984,888                

India ex-State Owned Enterprises Fund1

     2,825,437        1,471,962                

Middle East Dividend Fund

     8,641,471        10,025,972                

Modern Tech Platforms Fund2

     180,646        187,142        3,167,520        1,298,154  
  1 

For the period April 4, 2019 (commencement of operations) through March 31, 2020.

  2 

For the period May 22, 2019 (commencement of operations) through March 31, 2020.

6. FEDERAL INCOME TAXES

At March 31, 2020, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:

 

         
          Investments in Long Securities         Investments in Financial Derivatives1  
Fund   Tax Cost     Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
    Net Unrealized
Depreciation
         Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
   

Net Unrealized
Appreciation/

(Depreciation)

   

Total Net
Unrealized

Depreciation

 

Asia Pacific ex-Japan Fund

  $ 24,353,118     $ 2,653,002     $ (5,919,869   $ (3,266,867       $ 159     $ (7   $ 152     $ (3,266,715

China ex-State-Owned Enterprises Fund

    195,733,655       13,813,782       (19,052,919     (5,239,137                           (5,239,137

Emerging Markets Consumer Growth Fund

    30,098,976       2,792,671       (5,690,041     (2,897,370                           (2,897,370

Emerging Markets ex-State-Owned Enterprises Fund

    964,418,165       29,367,434       (173,075,713     (143,708,279                           (143,708,279

Emerging Markets High Dividend Fund

    2,135,839,116       66,742,119       (553,761,494     (487,019,375         1,856             1,856       (487,017,519

Emerging Markets Multifactor Fund

    8,317,397       167,728       (1,397,749     (1,230,021         23       (14,799     (14,776     (1,244,797

Emerging Markets Quality Dividend Growth Fund

    81,732,721       4,924,879       (16,942,488     (12,017,609         767       (79     688       (12,016,921

Emerging Markets SmallCap Dividend Fund

    1,640,748,672       67,847,224       (480,416,114     (412,568,890               (550     (550     (412,569,440

 

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Table of Contents

Notes to Financial Statements (continued)

 

           
          Investments in Long Securities         Investments in Financial Derivatives1        
Fund   Tax Cost     Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
    Net Unrealized
Depreciation
         Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
   

Net Unrealized
Appreciation/

(Depreciation)

   

Total Net
Unrealized

Depreciation

 

Global ex-U.S. Quality Dividend Growth Fund

  $ 107,324,828     $ 5,524,835     $ (15,533,687   $ (10,008,852       $ 1,631     $ (182   $ 1,449     $ (10,007,403

Global ex-U.S. Real Estate Fund

    106,312,954       6,347,424       (31,674,502     (25,327,078         109       (3     106       (25,326,972

Global High Dividend Fund

    87,974,641       2,768,058       (22,362,003     (19,593,945         256       (468     (212     (19,594,157

India Earnings Fund (consolidated)

    615,114,481       136,187,632       (191,527,394     (55,339,762                           (55,339,762

India ex-State Owned Enterprises Fund

    1,241,579       26,514       (386,347     (359,833                           (359,833

Middle East Dividend Fund

    14,999,776       1,074,590       (2,373,458     (1,298,868                           (1,298,868

Modern Tech Platforms Fund

    2,070,307       110,160       (264,922     (154,762         4       (6     (2     (154,764
  1 

Certain financial derivatives may be considered section 1256 contracts under the Code. Each section 1256 contract held at the close of a taxable year shall be treated as sold for its fair market value on the last business day of such taxable year (and any realized gain and loss shall be taken into account for the taxable year). As such, the unrealized appreciation/(depreciation) for financial derivatives on a tax basis may not correspond to the unrealized appreciation/(depreciation) on a GAAP basis. The unrealized appreciation/(depreciation) for financial derivatives on a GAAP basis is located in the respective financial derivatives tables in each Fund’s Schedule of Investments.

At March 31, 2020, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

           
Fund    Undistributed
Ordinary Income
     Undistributed
Capital and Other
Losses
     Net Unrealized
Depreciation
     Currency and
Other Unrealized
Appreciation/
(Depreciation)
     Total Distributable
Earnings (Loss)
 

Asia Pacific ex-Japan Fund

   $ 21,901      $ (9,609,537    $ (3,266,715    $ (4,900    $ (12,859,251

China ex-State-Owned Enterprises Fund

     5,710        (28,699,025      (5,239,137      298        (33,932,154

Emerging Markets Consumer Growth Fund

     30,079        (11,495,944      (2,897,370      (6,299      (14,369,534

Emerging Markets ex-State-Owned Enterprises Fund

     506,960        (17,240,229      (143,708,279      (68,118      (160,509,666

Emerging Markets High Dividend Fund

     3,689,105        (1,320,104,921      (487,017,519      (269,052      (1,803,702,387

Emerging Markets Multifactor Fund

     670        (2,098,369      (1,244,797      (3,067      (3,345,563

Emerging Markets Quality Dividend Growth Fund

     58,907        (16,745,136      (12,016,921      (10,801      (28,713,951

Emerging Markets SmallCap Dividend Fund

     5,978,856        (420,664,145      (412,569,440      (301,789      (827,556,518

Global ex-U.S. Quality Dividend Growth Fund

     375,084        (14,784,664      (10,007,403      (16,926      (24,433,909

Global ex-U.S. Real Estate Fund

            (15,797,027      (25,326,972      (943      (41,124,942

Global High Dividend Fund

     115,216        (9,254,364      (19,594,157      (2,068      (28,735,373

India Earnings Fund (consolidated)

     2,914,927        (166,668,513      (55,339,762      (25,170      (219,118,518

India ex-State Owned Enterprises Fund

            (111,178      (359,833      (15      (471,026

Middle East Dividend Fund

     256,607        (5,458,477      (1,298,868      285        (6,500,453

Modern Tech Platforms Fund

     742        (36,145      (154,764      (1      (190,168

The tax character of distributions paid during the fiscal years or periods ended March 31, 2020 and March 31, 2019, was as follows:

 

     
     Year Ended March 31, 2020      Year Ended March 31, 2019  
Fund    Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Return of
Capital
 

Asia Pacific ex-Japan Fund

   $ 1,027,347      $ 1,626,373      $  

China ex-State-Owned Enterprises Fund

     1,482,750        2,142,539        19,493  

Emerging Markets Consumer Growth Fund

     1,079,501        1,229,361         

Emerging Markets ex-State-Owned Enterprises Fund

     10,713,413        2,582,368         

Emerging Markets High Dividend Fund

     107,852,051        87,028,025         

Emerging Markets Multifactor Fund

     622,000        111,589 1        

Emerging Markets Quality Dividend Growth Fund

     1,769,180        2,036,219         

Emerging Markets SmallCap Dividend Fund

     64,397,006        58,272,794         

 

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     Year Ended March 31, 2020      Year Ended March 31, 2019  
Fund    Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Return of
Capital
 

Global ex-U.S. Quality Dividend Growth Fund

   $ 2,044,152      $ 1,532,940      $  

Global ex-U.S. Real Estate Fund

     8,280,378        4,157,515         

Global High Dividend Fund

     3,450,818        3,977,862         

India Earnings Fund (consolidated)

     8,945,464        18,968,260        609,812  

India ex-State Owned Enterprises Fund

     2               

Middle East Dividend Fund

     683,116        738,425         

Modern Tech Platforms Fund

     4,030 3               
  *

Includes short-term capital gains, if any.

  1 

For the period August 10, 2018 (commencement of operations) through March 31, 2019.

  2 

For the period April 4, 2019 (commencement of operations) through March 31, 2020.

  3 

For the period May 22, 2019 (commencement of operations) through March 31, 2020.

At March 31, 2020, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the below table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

       
Fund    Short-Term      Long-Term      Capital Loss
Available Total
 

Asia Pacific ex-Japan Fund

   $ 3,330,341      $ 6,279,196      $ 9,609,537  

China ex-State-Owned Enterprises Fund

     19,176,177        9,522,848        28,699,025  

Emerging Markets Consumer Growth Fund

     4,340,701        7,155,243        11,495,944  

Emerging Markets ex-State-Owned Enterprises Fund

     10,539,735        6,700,494        17,240,229  

Emerging Markets High Dividend Fund

     448,423,396        871,681,525        1,320,104,921  

Emerging Markets Multifactor Fund

     1,973,520        124,849        2,098,369  

Emerging Markets Quality Dividend Growth Fund

     8,652,059        8,093,077        16,745,136  

Emerging Markets SmallCap Dividend Fund

     259,585,319        161,078,826        420,664,145  

Global ex-U.S. Quality Dividend Growth Fund

     13,497,791        1,286,873        14,784,664  

Global ex-U.S. Real Estate Fund

     3,661,098        11,120,599        14,781,697  

Global High Dividend Fund

     4,626,759        4,627,605        9,254,364  

India Earnings Fund (consolidated)

     166,668,513               166,668,513  

India ex-State Owned Enterprises Fund

     111,178               111,178  

Middle East Dividend Fund

     2,309,333        3,149,144        5,458,477  

Modern Tech Platforms Fund

     36,145               36,145  

Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. At March 31, 2020, the Funds did not have any post-October capital losses to defer.

During the fiscal year or period ended March 31, 2020, the following Funds incurred and will elect to defer late year ordinary losses as follows:

 

   
Fund    Late Year
Ordinary Loss
 

Asia Pacific ex-Japan Fund

   $  

China ex-State-Owned Enterprises Fund

      

Emerging Markets Consumer Growth Fund

      

Emerging Markets ex-State-Owned Enterprises Fund

      

Emerging Markets High Dividend Fund

      

Emerging Markets Multifactor Fund

      

Emerging Markets Quality Dividend Growth Fund

      

Emerging Markets SmallCap Dividend Fund

      

Global ex-U.S. Quality Dividend Growth Fund

      

Global ex-U.S. Real Estate Fund

     1,015,330  

Global High Dividend Fund

      

 

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Notes to Financial Statements (continued)

 

   
Fund    Late Year
Ordinary Loss
 

India Earnings Fund (consolidated)

   $  

India ex-State Owned Enterprises Fund

      

Middle East Dividend Fund

      

Modern Tech Platforms Fund

      

During the fiscal year or period ended March 31, 2020, the amount of capital loss carryforwards used to offset realized gains are shown in the following table:

 

   
Fund    Utilized
Capital Loss
Carryforward
 

Asia Pacific ex-Japan Fund

   $ 121,814  

China ex-State-Owned Enterprises Fund

      

Emerging Markets Consumer Growth Fund

      

Emerging Markets ex-State-Owned Enterprises Fund

      

Emerging Markets High Dividend Fund

      

Emerging Markets Multifactor Fund

      

Emerging Markets Quality Dividend Growth Fund

     326,150  

Emerging Markets SmallCap Dividend Fund

      

Global ex-U.S. Quality Dividend Growth Fund

     691,096  

Global ex-U.S. Real Estate Fund

      

Global High Dividend Fund

      

India Earnings Fund (consolidated)

     22,096,062  

India ex-State Owned Enterprises Fund1

      

Middle East Dividend Fund

      

Modern Tech Platforms Fund2

      
  1 

For the period April 4, 2019 (commencement of operations) through March 31, 2020.

  2 

For the period May 22, 2019 (commencement of operations) through March 31, 2020.

At March 31, 2020, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as follows:

 

     
Fund   

Total Distributable
Earnings

(Loss)

     Paid-in Capital  

Asia Pacific ex-Japan Fund

   $ (410,431    $ 410,431  

China ex-State-Owned Enterprises Fund

     138,658        (138,658

Emerging Markets Consumer Growth Fund

     (352,235      352,235  

Emerging Markets ex-State-Owned Enterprises Fund

     7,148        (7,148

Emerging Markets High Dividend Fund

     8,779,523        (8,779,523

Emerging Markets Multifactor Fund

     (127,168      127,168  

Emerging Markets Quality Dividend Growth Fund

     (1,735,945      1,735,945  

Emerging Markets SmallCap Dividend Fund

     (959,724      959,724  

Global ex-U.S. Quality Dividend Growth Fund

     (4,663,143      4,663,143  

Global ex-U.S. Real Estate Fund

     (508,506      508,506  

Global High Dividend Fund

     (1,362,477      1,362,477  

India Earnings Fund (consolidated)

     1        (1

India ex-State Owned Enterprises Fund

     596        (596

Middle East Dividend Fund

             

Modern Tech Platforms Fund

     (74,385      74,385  

The differences are primarily due to redemptions-in-kind.

 

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Notes to Financial Statements (continued)

 

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Foreign withholding taxes, as applicable, are accrued based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Foreign withholding taxes are accrued and applied to foreign income, net realized capital gains and net unrealized appreciation, as applicable, as the foreign income is earned or capital gains and unrealized appreciation are recorded. As of and during the fiscal year or period ended March 31, 2020, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Generally, each of the tax years in the four-year period ended March 31, 2020, remains subject to examination by taxing authorities.

7. MAURITIUS AND INDIA TAXATION

The Portfolio holds a tax residency certificate issued by the Mauritian Revenue authorities as well as other tax residency related documentation prescribed by the Indian Revenue authorities and should be regarded as the beneficial owner of the investments made in Indian securities, which should entitle it to claim the benefits of the double taxation avoidance agreement entered between the Government of India and Mauritius (“tax treaty”).

The taxable profits derived from the Portfolio are subject to income tax at the rate of 15% in the Republic of Mauritius (“Mauritius”) and are subject to applicable foreign tax credits which effectively limits the maximum income tax rate to 3%. The Mauritius income tax is paid by WTAM (out of its fee paid by the India Earnings Fund), and accordingly, no provision for Mauritius income taxes is required.

Under the tax treaty, as amended, Mauritius entities (such as the Portfolio) are subject to tax on capital gains arising on the disposal of shares of an Indian company acquired on or after April 1, 2017. However, investments in shares acquired up to March 31, 2017 are grandfathered, and thus exempted from capital gains tax in India irrespective of the date of disposal (subject to the entity being eligible for the tax treaty benefits). Further, with effect from April 1, 2018, the Indian domestic tax laws have introduced taxation of long-term capital gains arising on the disposal of shares. The Indian tax rates applicable on the disposal of securities would depend on the nature of the securities, the holding period and the manner of disposal.

Changes in India tax law could reduce the return to each Fund with investments in India and the return received by each Fund’s shareholders.

Reference to investments by the India Earnings Fund herein should be understood to refer to investments by the Portfolio.

8. DEMAND NOTE

During the fiscal year ended March 31, 2020, the India Earnings Fund had a demand note agreement with Bank of America, N.A. which allowed the Fund to borrow up to $400,000,000 and having a final maturity date of October 11, 2019. During the fiscal year ended March 31, 2020, the Fund utilized the demand note and borrowed for a period of 11 days with an average outstanding loan balance of $85,400,000 and a weighted average interest rate of 4.20% per annum. Interest expense related to the loan for the fiscal year ended March 31, 2020 was $108,031. At March 31, 2020, the Fund did not have any amounts outstanding under the demand note agreement.

9. SUBSEQUENT EVENT

At the recommendation of WTAM, the investment adviser of the WisdomTree Asia Pacific ex-Japan Fund, WisdomTree Emerging Markets Consumer Growth Fund and WisdomTree Middle East Dividend Fund (the “Affected Funds”), after continued review of the product lineup and anticipated limited future prospect of investor demand for the Affected Funds, among other considerations, the Board of Trustees determined to close and liquidate the Affected Funds.

After the close of business on May 27, 2020, the Affected Funds will no longer accept creation orders. The last day of secondary market trading of the Affected Funds’ shares will also be May 27, 2020. Shareholders are able to sell Affected Fund shares through a broker in the standard manner through this date. Customary brokerage charges may apply to such transactions. When the Affected Funds commence liquidation of their portfolios, which is anticipated to occur on or around May 28, 2020, but may occur before May 28, 2020, and at different times for each Affected Fund, the liquidation process will result in the Affected Funds increasing their cash holdings and deviating from the investment objective and strategies stated in their prospectus.

It is anticipated that shareholders remaining in the Affected Funds after the last day of trading will have their shares redeemed automatically on or around June 9, 2020 and will receive cash through their broker or other applicable financial intermediary thereafter in an amount equal to the net asset value of their shares as calculated on or about June 8, 2020. This amount is expected to include any accrued capital gains and dividends. Shareholders remaining in an Affected Fund and that receive cash will not be

 

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Notes to Financial Statements (concluded)

 

charged any transaction fees by the Affected Fund. Whether shareholders sell their shares or are automatically redeemed as described above, shareholders will generally recognize a capital gain (or loss) equal to the amount received for their shares (or below) the adjusted cost basis in such shares.

10. ADDITIONAL INFORMATION

A recent outbreak of a respiratory disease caused by a novel coronavirus (“COVID-19”) has spread globally in a short period of time. In an organized attempt to contain and mitigate the effects of COVID-19, governments and businesses world-wide have taken aggressive measures, including businesses canceling dividends to preserve cash, governments closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations. COVID-19 has resulted in the disruption of and delays in the delivery of healthcare services and processes, the cancellation of organized events and educational institutions, the disruption of production and supply chains, a decline in consumer demand for certain goods and services, and general concern and uncertainty, all of which have contributed to increased volatility in global markets. The effects of COVID-19 have affected and are likely to continue to affect certain sectors and industries more dramatically than others, and the effects borne by some will negatively affect the value of the issuers in those sectors and industries, which may adversely affect the value of each Fund’s investments in those sectors or industries. COVID-19, and other epidemics and pandemics that may arise in the future, could adversely affect the economies of many nations, the global economy, individual companies and capital markets in ways that cannot be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to limited health care resources. Political, economic and social stresses caused by COVID-19 also may exacerbate other pre-existing political, social and economic risks in certain countries. The duration of COVID-19 and its effects cannot be determined at this time, but the effects could be present for an extended period of time. It is impossible to predict the effects on the Funds of these or similar events and market conditions in the future. However, it is possible that these or similar events and market conditions could have a significant and adverse effect on the NAV and/or risk profile of the Funds.

 

 

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Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree Asia Pacific ex-Japan Fund, WisdomTree China ex-State-Owned Enterprises Fund, WisdomTree Emerging Markets Consumer Growth Fund, WisdomTree Emerging Markets ex-State-Owned Enterprises Fund, WisdomTree Emerging Markets High Dividend Fund, WisdomTree Emerging Markets Multifactor Fund, WisdomTree Emerging Markets Quality Dividend Growth Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, WisdomTree Global ex-U.S. Quality Dividend Growth Fund, WisdomTree Global ex-U.S. Real Estate Fund, WisdomTree Global High Dividend Fund, WisdomTree India Earnings Fund, WisdomTree India ex-State-Owned Enterprises Fund, WisdomTree Middle East Dividend Fund and WisdomTree Modern Tech Platforms Fund and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities (consolidated as it relates to WisdomTree India Earnings Fund) of WisdomTree Asia Pacific ex-Japan Fund, WisdomTree China ex-State-Owned Enterprises Fund, WisdomTree Emerging Markets Consumer Growth Fund, WisdomTree Emerging Markets ex-State-Owned Enterprises Fund, WisdomTree Emerging Markets High Dividend Fund, WisdomTree Emerging Markets Multifactor Fund, WisdomTree Emerging Markets Quality Dividend Growth Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, WisdomTree Global ex-U.S. Quality Dividend Growth Fund, WisdomTree Global ex-U.S. Real Estate Fund, WisdomTree Global High Dividend Fund, WisdomTree India Earnings Fund, WisdomTree India ex-State-Owned Enterprises Fund, WisdomTree Middle East Dividend Fund and WisdomTree Modern Tech Platforms Fund, (collectively referred to as the “Funds”), (fifteen of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments (consolidated as it relates to WisdomTree India Earnings Fund), as of March 31, 2020, and the related statements of operations, and changes in net assets (consolidated as it relates to WisdomTree India Earnings Fund), and the financial highlights (consolidated as it relates to WisdomTree India Earnings Fund) for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position (consolidated as it relates to WisdomTree India Earnings Fund) of each of the Funds (fifteen of the funds constituting WisdomTree Trust) at March 31, 2020, and the results of their operations (consolidated as it relates to WisdomTree India Earnings Fund), changes in net assets (consolidated as it relates to WisdomTree India Earnings Fund) and financial highlights (consolidated as it relates to WisdomTree India Earnings Fund) for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

 

       
Individual fund constituting the WisdomTree Trust    Statement of
operations
   Statements of changes
in net assets
   Financial highlights

WisdomTree Asia Pacific ex-Japan Fund

WisdomTree China ex-State-Owned Enterprises Fund

WisdomTree Emerging Markets Consumer Growth Fund

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund

WisdomTree Emerging Markets High Dividend Fund

WisdomTree Emerging Markets Quality Dividend Growth Fund

WisdomTree Emerging Markets SmallCap Dividend Fund

WisdomTree Global ex-U.S. Quality Dividend Growth Fund

WisdomTree Global ex-U.S. Real Estate Fund

WisdomTree Global High Dividend Fund

WisdomTree India Earnings Fund

WisdomTree Middle East Dividend Fund

   For the year ended March 31, 2020    For each of the two years in the period ended March 31, 2020    For each of the five years in the period ended March 31, 2020

WisdomTree Emerging Markets Multifactor Fund

   For the year ended March 31, 2020    For the year ended March 31, 2020 and the period from August 10, 2018 (commencement of operations) through March 31, 2019

WisdomTree India ex-State-Owned Enterprises Fund

   For the period from April 4, 2019 (commencement of operations) through March 31, 2020

WisdomTree Modern Tech Platforms Fund

   For the period from May 22, 2019 (commencement of operations) through March 31, 2020

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

 

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Report of Independent Registered Public Accounting Firm (concluded)

 

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2020, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

LOGO

We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 21, 2020

 

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Trustees and Officers Information (unaudited)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

During Past
5 Years

Trustees Who Are Interested Persons of the Trust
Jonathan Steinberg
(1964)
  Trustee, 2005-present; President, 2005-present   Chief Executive Officer, WisdomTree Investments, Inc. and WisdomTree Asset Management since 2005; President, WisdomTree Investments, Inc. and WisdomTree Asset Management from 2012 to 2019.     76     Director, WisdomTree Investments, Inc. and WisdomTree Asset Management.
Trustees Who Are Not Interested Persons of the Trust
David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     76     Trustee, Vericimetry Funds (2011 to 2014).
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner, Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     76     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     76     None

Melinda A. Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     76     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     76     Member of the Board of Governors of Naismith Memorial Basketball Hall of Fame (2001-2016).

 

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Trustees and Officers Information (unaudited) (concluded)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

During Past
5 Years

Officers of the Trust

Jonathan Steinberg*****

(1964)

  President, 2005- present; Trustee, 2005-present   Chief Executive Officer, WisdomTree Investments, Inc. and WisdomTree Asset Management since 2005; President, WisdomTree Investments, Inc. and WisdomTree Asset Management from 2012 to 2019.     76     Director, WisdomTree Investments, Inc. and WisdomTree Asset Management, Inc.

David Castano*****

(1971)

  Treasurer, 2013-present   Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, WisdomTree Asset Management, 2011 to 2020.     76     None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present   Chief Compliance Officer, WisdomTree Asset Management since 2012; Senior Compliance Officer, WisdomTree Asset Management since 2011.     76     None

Ryan Louvar*****

(1972)

  Secretary and Chief Legal Officer, 2013-present   General Counsel, WisdomTree Asset Management since 2013; Vice President and Senior Managing Counsel, State Street, 2005 to 2013.     76     None

Joanne Antico*****

(1975)

  Assistant Secretary, 2018-present   Assistant General Counsel, WisdomTree Asset Management since 2016; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.     76     None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present   Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.     76     None

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

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Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year or period ended March 31, 2020, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2021.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year or period ended March 31, 2020, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

Asia Pacific ex-Japan Fund

   $ 705,955  

China ex-State-Owned Enterprises Fund

     993,635  

Emerging Markets Consumer Growth Fund

     805,315  

Emerging Markets ex-State-Owned Enterprises Fund

     9,294,697  

Emerging Markets High Dividend Fund

     85,725,306  

Emerging Markets Multifactor Fund

     482,151  

Emerging Markets Quality Dividend Growth Fund

     1,402,264  

Emerging Markets SmallCap Dividend Fund

     30,859,955  

Global ex-U.S. Quality Dividend Growth Fund

     2,044,152  

Global ex-U.S. Real Estate Fund

     1,926,636  

Global High Dividend Fund

     3,265,282  

India Earnings Fund (consolidated)

     8,945,464  

India ex-State Owned Enterprises Fund1

      

Middle East Dividend Fund

     48,652  

Modern Tech Platforms Fund2

     4,030  
  1 

For the period April 4, 2019 (commencement of operations) through March 31, 2020.

  2 

For the period May 22, 2019 (commencement of operations) through March 31, 2020.

The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries during the fiscal year or period ended March 31, 2020. The gross foreign source income and foreign taxes paid are as follows:

 

     
Fund    Gross Foreign
Income
     Foreign
Taxes Paid
 

Asia Pacific ex-Japan Fund

   $ 1,125,996      $ 97,411  

China ex-State-Owned Enterprises Fund

     1,494,960        86,144  

Emerging Markets Consumer Growth Fund

     1,184,782        106,869  

Emerging Markets ex-State-Owned Enterprises Fund

     12,465,774        1,204,302  

Emerging Markets High Dividend Fund

     122,876,154        14,005,808  

Emerging Markets Multifactor Fund

     712,706        80,827  

Emerging Markets Quality Dividend Growth Fund

     2,140,535        299,656  

Emerging Markets SmallCap Dividend Fund

     70,285,300        7,335,007  

Global ex-U.S. Quality Dividend Growth Fund

     2,515,600        158,581  

Global ex-U.S. Real Estate Fund

     4,326,867        226,424  

Global High Dividend Fund

             

India Earnings Fund (consolidated)

             

India ex-State Owned Enterprises Fund1

             

Middle East Dividend Fund

     653,793        16,311  

Modern Tech Platforms Fund2

             
  1 

For the period April 4, 2019 (commencement of operations) through March 31, 2020.

  2 

For the period May 22, 2019 (commencement of operations) through March 31, 2020.

 

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Supplemental Information (unaudited) (concluded)

 

The following represents the percentage of dividends paid during the fiscal year ended March 31, 2020, that qualify for the 70% dividends received deduction for corporate shareholders:

 

   
Fund    Dividends-Received
Deduction
 

Asia Pacific ex-Japan Fund

      

China ex-State-Owned Enterprises Fund

     1.71

Emerging Markets Consumer Growth Fund

      

Emerging Markets ex-State-Owned Enterprises Fund

     0.22

Emerging Markets High Dividend Fund

      

Emerging Markets Multifactor Fund

     0.16

Emerging Markets Quality Dividend Growth Fund

      

Emerging Markets SmallCap Dividend Fund

      

Global ex-U.S. Quality Dividend Growth Fund

      

Global ex-U.S. Real Estate Fund

      

Global High Dividend Fund

     54.79

India Earnings Fund (consolidated)

      

India ex-State Owned Enterprises Fund1

      

Middle East Dividend Fund

      

Modern Tech Platforms Fund2

     100.00
  1 

For the period April 4, 2019 (commencement of operations) through March 31, 2020.

  2 

For the period May 22, 2019 (commencement of operations) through March 31, 2020.

 

134   WisdomTree Trust


Table of Contents

General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

Previously, the Funds were required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Beginning in April 2019, the Funds ceased filing Form N-Q and commenced filing Form N-PORT. Part F of each Fund’s Form N-PORT filings for the first and third fiscal quarters contain the complete schedule of portfolio holdings in the same manner as previously filed on Form N-Q. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: publicinfo@sec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com.

 

WisdomTree Trust      135  


Table of Contents

The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree Investments, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree Investments, its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other information, is available at www.wisdomtree.com, or by calling 1-866-909-WISE (9473). Investors should read the prospectus carefully before investing. There are risks associated with investing, including possible loss of principal. Past performance does not guarantee future results. Indexes are unmanaged and you cannot invest directly in an index.

There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Inflation protected securities do not eliminate risks associated with inflation or deflation. Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting such issuers. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

The Dow Jones Global ex-U.S. Select Real Estate Securities Index is calculated, distributed and marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC, and has been licensed for use.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.


Table of Contents

WisdomTree Trust

245 Park Avenue, 35th Floor

New York, NY 10167

 

LOGO

 

LOGO

 

WisdomTree Fund shares are distributed by Foreside Fund Services, LLC, in the U.S. only.

WTGM-3606


Table of Contents

LOGO

 

LOGO

 

WisdomTree Trust

Annual Report

March 31, 2020

 

WisdomTree Europe Hedged Equity Fund (HEDJ)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

WisdomTree Germany Hedged Equity Fund (DXGE)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

WisdomTree Japan Hedged Equity Fund (DXJ)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

 

IMPORTANT NOTE: Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the WisdomTree Funds’ annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, annual and semi-annual shareholder reports will be available on the WisdomTree Funds’ website (www.wisdomtree.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a Fund electronically anytime by contacting your financial intermediary (such as a broker-dealer or bank).

You may elect to receive all future reports in paper free of charge. Please contact your financial intermediary to request to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account.


Table of Contents

Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       3  

Management’s Discussion of Funds’ Performance (unaudited)

       4  

Description of Terms and Indexes (unaudited)

       10  
Schedules of Investments     

WisdomTree Europe Hedged Equity Fund

       13  

WisdomTree Europe Hedged SmallCap Equity Fund

       16  

WisdomTree Germany Hedged Equity Fund

       20  

WisdomTree International Hedged Quality Dividend Growth Fund

       22  

WisdomTree Japan Hedged Equity Fund

       30  

WisdomTree Japan Hedged SmallCap Equity Fund

       37  

Statements of Assets and Liabilities

       47  

Statements of Operations

       48  

Statements of Changes in Net Assets

       49  

Financial Highlights

       51  

Notes to Financial Statements

       54  

Report of Independent Registered Public Accounting Firm

       67  

Trustees and Officers Information (unaudited)

       68  

Supplemental Information (unaudited)

       70  

General Information (unaudited)

       71  

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


Table of Contents

Market Environment Overview

(unaudited)

 

International equity markets, as measured by the MSCI EAFE Index, a broad measure of equity performance for the developed world outside the U.S. and Canada, returned -14.38% in U.S. dollar terms for the 12-month period ended March 31, 2020. Measured in local currency, the MSCI EAFE Index returned -12.58% over the same period. International currency performance was mixed in the period, and the largest currency moves occurred in the first quarter of 2020, during the period that included the novel coronavirus (“COVID-19”) outbreak. Most international currencies weakened versus the U.S. dollar (“USD”). Meanwhile, the Japanese yen and Swiss franc, which are widely regarded as safe-haven currencies during periods of volatility, strengthened relative to the USD.

International equities generated positive performance during the second quarter of 2019, as measured by the MSCI EAFE Index, returning +3.68% in USD and +2.80% in local currency terms. Positive performance in April 2019 and June 2019 more than offset negative returns in May of 2019. Early in the second quarter of 2019, incoming economic data continued to show signs of weakening. In Germany, manufacturing survey data contracted, and 10-year German government bond yields entered negative territory for the first time since 2016. In May 2019, escalation of the U.S.-China trade dispute and the continued weakening trend in economic datapoints from Germany, the Eurozone’s largest economy, were key drivers of negative equity performance. Also contributing to negative sentiment was the announced resignation of Theresa May as the United Kingdom (“U.K.”) Prime Minister. Japanese gross domestic product (“GDP”) growth of +2.1% was a surprise to the upside relative to expectations for contraction which was a modest positive offset. In June 2019, European equities rallied on heightened expectations for easing monetary policy conditions and an improved outlook on global trade relations.

International equity performance was positive, although slightly more subdued in the third quarter of 2019. During this period, the MSCI EAFE Index returned +1.75% in local currency terms, but broad strengthening of the USD resulted in a -1.07% return in USD terms for the same period. In July 2019, Japanese election results confirmed that incumbent Prime Minister Shinzo Abe and the democratic party would remain in power, providing political stability within the nation. Meanwhile, the German manufacturing sector continued to lag, posting its lowest level of activity in seven years, which was slightly offset by services sector expansion. These contracting economic indicators and signals from new leadership at the European Central Bank drove expectations for easing monetary policy in the Eurozone. In the U.K., Boris Johnson was elected as Britain’s Prime Minister, pledging that the U.K. would exit the European Union (known as “Brexit”) by October 31, 2019. Late August 2019 brought a trade resolution between the U.S. and Japan, but escalating tensions between the U.S. and China remained in focus and were largely to blame for a reported contraction in German GDP as well as a sizable drop in Japanese exports. Additionally, Italy narrowly avoided political collapse with the formation of a new governing coalition between the Democratic party and the populist Five Star Movement. European market volatility calmed in September 2019, despite increasing Brexit uncertainty, after the European Central Bank cut the deposit rate to a record low alongside the introduction of a new quantitative easing program.

International equity markets rallied in the fourth quarter of 2019, returning +8.17% in USD terms and +5.19% in local currency terms. This period was characterized by a reduction in global uncertainty and accommodative monetary policy. In October 2019, Japan increased the sales tax rate by 2% to 10%, which partially drove slowing economic activity alongside a reduction in exports from U.S.-China trade frictions. In October 2019, the European Union delayed Brexit for the third time to January 2020, beyond U.K. Prime Minister Boris Johnson’s October 31, 2019 goal. Meanwhile, the trend of stagnating economic activity across Europe persisted through November 2019. In early December 2019, Japan announced a substantial stimulus package aimed at boosting the nation’s GDP by 1.4% through March 2022. By mid-December 2019, a preliminary trade agreement between the U.S. and China buoyed international equities. European economic activity began to show signs of bottoming and potential recovery, including modest economic growth in Germany.

 

WisdomTree Trust      1  


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Market Environment Overview

(unaudited) (concluded)

 

At the end of the fourth quarter of 2019, U.K. Prime Minister Boris Johnson’s Conservative Party secured a majority in the House of Commons, providing a clearer path for the U.K. to exit the European Union. The European Central Bank left its monetary policy rate unchanged in response to early signs of an economic recovery.

Positive international equity performance sharply reversed during the first quarter of 2020. The MSCI EAFE Index returned -20.55% in local currency terms and -22.83% in USD terms. In early January 2020, news of the spread of COVID-19 emerged. Before the virus spread, Germany and the Eurozone reported that 2019 GDP growth hit a 6-year low of 0.6% and 1.2%, respectively. Additionally, the U.K. formally exited the European Union on January 31, 2020.

At the end of January 2020, China announced the lock down of select cities due to COVID-19. In the ensuing days and weeks, the global rate of COVID-19 infection spread; along with the impact on the global economy. Large international corporations announced disruptions to operations and forecasted meaningful reductions in financial expectations. Amid the virus outbreak, Japan reported a 6.3% contraction in GDP for the fourth quarter of 2019, driven by a sharp decline in household consumption from a higher sales tax rate. At the end of February 2020, many countries within the European Union began reporting COVID-19 infections, with the most significant increase in Northern Italy. An oil price war between Saudi Arabia and Russia added to the market volatility experienced by international equities.

In March 2020, the spread of COVID-19 in Japan was relatively more contained than in other developed nations. The infection rate in Europe worsened, and many nations began implementing lock down measures, halting economic activity. Notably, Italy became the country with the highest COVID-19 related death rate. The Bank of England announced large cuts in interest rates to a record low and agreed to purchase £200 billion in U.K. government bonds. Similarly, the European Central Bank increased bond purchases under its current program and announced a new €750 billion bond-buying program.

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

 

2   WisdomTree Trust


Table of Contents

Information about Performance and Shareholder Expense Examples (unaudited)

Performance

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

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

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.

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

Shareholder Expense Examples

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

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2019 to March 31, 2020. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 183/366 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

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

Hypothetical example for comparison purposes

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

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

 

WisdomTree Trust      3  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Europe Hedged Equity Fund (HEDJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Staples

    20.5%  

Consumer Discretionary

    19.0%  

Health Care

    14.9%  

Industrials

    13.5%  

Materials

    11.7%  

Financials

    9.9%  

Information Technology

    7.8%  

Energy

    1.6%  

Communication Services

    0.4%  

Utilities

    0.2%  

Other Assets less Liabilities‡

    0.5%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Sanofi

    6.0%  

Unilever N.V.

    5.1%  

Banco Santander S.A.

    4.8%  

LVMH Moet Hennessy Louis Vuitton SE

    4.5%  

Anheuser-Busch InBev S.A./N.V.

    3.8%  

Bayer AG, Registered Shares

    3.6%  

Siemens AG, Registered Shares

    3.3%  

L’Oreal S.A.

    3.2%  

ASML Holding N.V.

    2.9%  

BASF SE

    2.8%  
*

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

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

The Fund returned -17.15% for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in Austria had the least negative impact while its position in Germany detracted the most from performance. International equities suffered a significant drop in the first quarter of 2020, with European equities underperforming. However, the euro depreciated by 2.1% against the U.S. dollar during the fiscal year, which boosted Fund returns vs. unhedged benchmarks. During the fiscal year, the Fund utilized forward foreign currency contracts to offset euro currency exposure from positions in European equities. The Fund’s use of forward foreign currency contracts contributed positively to Fund performance as a result of the U.S. dollar strengthening against the euro during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 773.00        0.58   $ 2.57  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -17.15      -4.10      -1.15      4.49

Fund Market Price Returns

       -18.49      -4.58      -1.44      4.27

WisdomTree DEFA International Hedged Equity/Europe Hedged Equity Spliced Index1

       -16.89      -3.82      -0.75      4.88

MSCI EAFE Local Currency/MSCI EMU Local Currency Spliced Index2

       -16.04      -4.83      -2.27      3.50
1 

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

 

2 

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

 

 

LOGO

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

 

4   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    19.9%  

Financials

    17.6%  

Communication Services

    10.5%  

Materials

    10.0%  

Utilities

    9.4%  

Consumer Discretionary

    7.6%  

Information Technology

    7.6%  

Consumer Staples

    5.8%  

Real Estate

    4.7%  

Health Care

    3.7%  

Energy

    1.8%  

Other Assets less Liabilities‡

    1.4%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Banca Mediolanum SpA

    1.5%  

Bolsas y Mercados Espanoles SHMSF S.A.

    1.4%  

Freenet AG

    1.3%  

Voestalpine AG

    1.3%  

Orion Oyj, Class B

    1.3%  

Nokian Renkaat Oyj

    1.2%  

BE Semiconductor Industries N.V.

    1.2%  

Siltronic AG

    1.2%  

Eutelsat Communications S.A.

    1.2%  

FinecoBank Banca Fineco SpA

    1.1%  
*

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

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

The Fund returned -19.62% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund was least negatively impacted by its investment in Belgium while its position in Germany contributed most negatively to performance. International equities suffered a significant drop in the first quarter of 2020 with European equities underperforming. Additionally, small cap companies underperformed during the fiscal year when compared to their larger peers, particularly as the broad market correction took place. However, the euro depreciated by 2.1% against the U.S. dollar during the fiscal year, which boosted Fund returns vs. unhedged benchmarks. During the fiscal year, the Fund utilized forward foreign currency contracts to offset euro currency exposure from positions in European equities. The Fund’s use of forward foreign currency contracts contributed positively to Fund performance as a result of the U.S. dollar strengthening against the euro during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 774.50        0.58   $ 2.57  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -19.62      -3.88      0.76      1.60

Fund Market Price Returns

       -21.26      -4.52      0.34      1.01

WisdomTree Europe Hedged SmallCap Equity Index

       -19.57      -4.05      0.82      1.64

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

       -18.20      -4.38      0.15      1.01
1 

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

 

 

LOGO

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

 

WisdomTree Trust      5  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Germany Hedged Equity Fund (DXGE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    19.4%  

Financials

    16.8%  

Industrials

    14.1%  

Health Care

    12.0%  

Materials

    11.6%  

Communication Services

    7.6%  

Information Technology

    7.6%  

Utilities

    5.8%  

Consumer Staples

    3.5%  

Real Estate

    0.1%  

Other Assets less Liabilities‡

    1.5%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Deutsche Telekom AG, Registered Shares

    6.5%  

Allianz SE, Registered Shares

    6.0%  

Bayer AG, Registered Shares

    5.9%  

Siemens AG, Registered Shares

    5.4%  

BASF SE

    5.2%  

SAP SE

    5.2%  

Bayerische Motoren Werke AG

    5.1%  

Daimler AG, Registered Shares

    4.6%  

Deutsche Post AG, Registered Shares

    4.0%  

Volkswagen AG

    3.8%  
*

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

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

The Fund returned -18.06% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in the Real Estate sector contributed the most positively to performance while its position in the Consumer Discretionary sector contributed the most negatively to performance. In addition to the general trade war apprehensions and economic slowdown in the European Union, Germany equities generally underperformed the broader European market in the fiscal year. However, the euro depreciated by 2.1% against the U.S. dollar during the fiscal year, which boosted Fund returns vs. unhedged benchmarks. During the fiscal year, the Fund utilized forward foreign currency contracts to offset euro currency exposure from positions in German equities. The Fund’s use of forward foreign currency contracts contributed positively to Fund performance as a result of the U.S. dollar strengthening against the euro during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 767.80        0.48   $ 2.12  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.60        0.48   $ 2.43  

Performance

 

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

Fund NAV Returns

       -18.06      -6.63      -2.95      2.17

Fund Market Price Returns

       -19.40      -7.13      -3.21      1.80

WisdomTree Germany Hedged Equity Index

       -17.97      -6.56      -2.82      2.32

MSCI Germany Local Currency Index

       -15.61      -7.63      -4.40      1.20
1 

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

 

 

LOGO

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

 

6   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    17.4%  

Consumer Discretionary

    15.5%  

Consumer Staples

    15.0%  

Industrials

    14.8%  

Information Technology

    13.6%  

Materials

    9.4%  

Communication Services

    4.2%  

Real Estate

    3.1%  

Financials

    2.0%  

Utilities

    2.0%  

Energy

    1.3%  

Investment Company

    0.3%  

Other Assets less Liabilities‡

    1.4%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Novo Nordisk A/S, Class B

    4.4%  

Industria de Diseno Textil S.A.

    4.4%  

British American Tobacco PLC

    4.0%  

Unilever N.V.

    4.0%  

Rio Tinto PLC

    3.3%  

SAP SE

    3.0%  

Tokyo Electron Ltd.

    2.6%  

Kering S.A.

    2.3%  

ASML Holding N.V.

    2.2%  

Roche Holding AG, Bearer Shares

    2.1%  
*

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

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

The Fund -2.70% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in Japan contributed the most positively to performance while its position in the United Kingdom contributed the most negatively to performance. International equities suffered a significant drop in the first quarter of 2020. However, the Fund’s significant overweight to higher quality companies proved to be a source of outperformance when compared to companies with low quality (based on return-on-equity), particularly in the first quarter of 2020. In addition, international currencies depreciated against the U.S. dollar during the fiscal year, which boosted Fund returns vs. unhedged benchmarks. During the fiscal year, the Fund utilized forward foreign currency contracts to offset applicable international currency exposure from positions in international equities. The Fund’s use of forward foreign currency contracts contributed positively to Fund performance as a result of the U.S. dollar strengthening against applicable international currencies during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 920.70        0.58   $ 2.79  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -2.70      3.59      4.35      5.81

Fund Market Price Returns

       -3.82      3.18      4.12      5.50

WisdomTree International Hedged Quality Dividend Growth Index

       -2.07      4.36      5.02      6.48

MSCI EAFE Local Currency Index

       -12.58      -1.80      -0.15      2.64
1 

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

 

 

LOGO

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

 

WisdomTree Trust      7  


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Japan Hedged Equity Fund (DXJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    21.2%  

Consumer Discretionary

    20.7%  

Information Technology

    13.7%  

Financials

    11.3%  

Health Care

    10.6%  

Materials

    8.9%  

Consumer Staples

    8.5%  

Communication Services

    3.0%  

Energy

    0.6%  

Utilities

    0.2%  

Real Estate

    0.1%  

Other Assets less Liabilities‡

    1.2%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Toyota Motor Corp.

    5.7%  

Mitsubishi UFJ Financial Group, Inc.

    3.3%  

Japan Tobacco, Inc.

    3.3%  

Takeda Pharmaceutical Co., Ltd.

    2.6%  

Honda Motor Co., Ltd.

    2.4%  

Tokyo Electron Ltd.

    2.4%  

Sumitomo Mitsui Financial Group, Inc.

    2.3%  

Canon, Inc.

    2.2%  

Mitsubishi Corp.

    2.2%  

FANUC Corp.

    2.1%  
*

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

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

The Fund returned -13.26% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund benefited the most from its position in the Health Care sector. The Fund’s position in the Consumer Discretionary sector contributed the most negatively to performance. International equities, including Japanese equities, suffered a significant drop in the first quarter of 2020. The Fund’s overweight to large-cap equities also underperformed its mid- or small-cap peers during the first quarter of 2020. In addition, the Japanese yen rallied by 3.27% against the U.S. dollar during the fiscal year as investors fled to safe-haven currencies which detracted from Fund returns versus unhedged benchmarks. During the fiscal year, the Fund utilized forward foreign currency contracts to offset Japanese yen currency exposure from positions in Japanese equities. The Fund’s use of forward foreign currency contracts contributed negatively to Fund performance as a result of the U.S. dollar weakening against the Japanese yen during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 861.80        0.48   $ 2.23  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.60        0.48   $ 2.43  

Performance

 

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

Fund NAV Returns

       -13.26      -2.98      -1.98      3.60

Fund Market Price Returns

       -14.91      -3.62      -2.30      3.39

WisdomTree Japan Hedged Equity Index

       -12.93      -2.46      -1.29      4.15

MSCI Japan/Japan Local Currency Spliced Index

       -8.99      -0.11      -0.30      5.28

 

 

LOGO

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

 

8   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

 

as

of March 31, 2020 (unaudited)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    24.1%  

Consumer Discretionary

    20.7%  

Materials

    12.1%  

Financials

    11.5%  

Information Technology

    10.1%  

Consumer Staples

    7.2%  

Health Care

    4.7%  

Communication Services

    3.1%  

Real Estate

    2.7%  

Utilities

    1.1%  

Energy

    1.0%  

Other Assets less Liabilities‡

    1.7%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Haseko Corp.

    1.3%  

Matsui Securities Co., Ltd.

    0.9%  

Aozora Bank Ltd.

    0.8%  

Mitsubishi Gas Chemical Co., Inc.

    0.7%  

Casio Computer Co., Ltd.

    0.7%  

Seven Bank Ltd.

    0.7%  

Sumitomo Rubber Industries Ltd.

    0.6%  

Mebuki Financial Group, Inc.

    0.6%  

DIC Corp.

    0.5%  

Koei Tecmo Holdings Co., Ltd.

    0.5%  
*

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

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

The Fund returned -12.41% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund benefited the most from its position in the Consumer Staples sector. The Fund’s position in the Consumer Discretionary sector contributed the most negatively to performance. International equities, including Japanese equities, suffered a significant drop in the first quarter of 2020. The Fund’s overweight to small-cap equities outperformed its larger peers during the first quarter of 2020, which positively impacted Fund performance. In addition, the Japanese yen rallied by 3.27% against the U.S. dollar during the fiscal year as investors fled to safe-haven currencies which detracted from Fund returns versus unhedged benchmarks. During the fiscal year, the Fund utilized forward foreign currency contracts to offset Japanese yen currency exposure from positions in Japanese equities. The Fund’s use of forward foreign currency contracts contributed negatively to Fund performance as a result of the U.S. dollar weakening against the Japanese yen during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 876.10        0.58   $ 2.72  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -12.41      -1.27      2.40      6.98

Fund Market Price Returns

       -14.32      -1.99      1.98      6.56

WisdomTree Japan Hedged SmallCap Equity Index

       -12.08      -0.73      3.04      7.79

MSCI Japan Small Cap Local Currency Index

       -13.31      -1.61      1.44      6.88
1 

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

 

 

LOGO

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

 

WisdomTree Trust      9  


Table of Contents

Description of Terms and Indexes (unaudited)

 

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

Brexit is an abbreviation for “British exit,” referring to the U.K.’s decision in a June 2016 referendum to leave the European Union.

Five Star Movement is a political party in Italy. The party was founded on October 4, 2009 by Beppe Grillo, a comedian and blogger, and Gianroberto Casaleggio, a web strategist.

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a country’s economic health.

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

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

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

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

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

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

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

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

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

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

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

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

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

 

10   WisdomTree Trust


Table of Contents

Description of Terms and Indexes (unaudited) (continued)

 

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

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

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

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

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

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

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

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

* * * * * *

 

WisdomTree Trust      11  


Table of Contents

Description of Terms and Indexes (unaudited) (concluded)

 

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

 

 

Currency abbreviations:
AUD   Australian dollar
CHF   Swiss franc
DKK   Danish krone
EUR   Euro
GBP   British pound
HKD   Hong Kong dollar
ILS   Israeli new shekel
JPY   Japanese yen
NOK   Norwegian krone
NZD   New Zealand dollar
SEK   Swedish krona
SGD   Singapore dollar
USD   U.S. dollar

 

Other abbreviations:
CVA   Certificaten Van Aandelen (Certificate of Stock)
RSP   Risparmio Italian Savings Shares

 

12   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree Europe Hedged Equity Fund (HEDJ)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.5%

 

Austria – 0.5%

 

Andritz AG*

     240,088      $ 7,529,020  

Lenzing AG(a)

     64,954        3,592,048  

Schoeller-Bleckmann Oilfield Equipment AG(a)

     9,507        312,947  
     

 

 

 
Total Austria

 

     11,434,015  
Belgium – 5.9%

 

Anheuser-Busch InBev S.A./N.V.

     1,885,776        83,739,248  

Bekaert S.A.

     83,815        1,406,161  

Melexis N.V.(a)

     72,045        3,810,278  

Solvay S.A.

     214,694        15,637,341  

UCB S.A.

     157,107        13,618,472  

Umicore S.A.

     317,139        11,083,191  
     

 

 

 
Total Belgium

 

     129,294,691  
Finland – 3.2%

 

Cargotec Oyj Class B(a)

     100,493        1,866,803  

Huhtamaki Oyj

     126,611        4,053,801  

Kemira Oyj

     347,751        3,369,262  

Kone Oyj Class B

     695,117        39,371,473  

Konecranes Oyj(a)

     150,186        2,571,574  

Metso Oyj

     279,137        6,652,471  

Valmet Oyj(a)

     220,590        4,325,299  

Wartsila Oyj Abp(a)

     1,045,274        7,672,944  
     

 

 

 
Total Finland

 

     69,883,627  
France – 30.1%

 

Air Liquide S.A.(a)

     326,577        41,799,981  

Arkema S.A.

     77,489        5,356,565  

Bureau Veritas S.A.

     368,588        7,000,741  

Cie Generale des Etablissements Michelin SCA

     189,927        16,892,699  

Danone S.A.

     569,279        36,628,984  

Dassault Systemes SE(a)

     39,796        5,894,934  

EssilorLuxottica S.A.

     260,295        28,069,632  

Gaztransport Et Technigaz S.A.

     45,023        3,309,901  

Hermes International(a)

     24,940        17,207,379  

Imerys S.A.(a)

     125,152        3,147,445  

Ingenico Group S.A.

     40,025        4,257,357  

Interparfums S.A.(a)

     23,265        781,142  

Kering S.A.(a)

     84,974        44,371,848  

L’Oreal S.A.

     269,688        70,694,157  

Legrand S.A.

     178,948        11,482,593  

LVMH Moet Hennessy Louis Vuitton SE

     268,469        99,699,829  

Pernod Ricard S.A.

     124,047        17,619,520  

Publicis Groupe S.A.

     290,765        8,333,377  

Remy Cointreau S.A.(a)

     22,087        2,415,015  

Rubis SCA

     92,620        3,867,936  

Safran S.A.

     188,776        16,599,762  

Sanofi(a)

     1,502,690        132,137,012  

Sartorius Stedim Biotech

     13,853        2,781,638  

Schneider Electric SE

     560,566        48,333,086  

SCOR SE

     273,442        6,024,690  

SEB S.A.(a)

     22,316        2,779,188  

Societe BIC S.A.(a)

     72,511        4,045,765  

Sodexo S.A.(a)

     128,266      8,675,209  

Teleperformance

     20,962        4,365,507  

Valeo S.A.

     380,240        6,362,582  

Vicat S.A.

     53,732        1,361,917  
     

 

 

 
Total France

 

     662,297,391  
Germany – 25.0%

 

adidas AG

     71,454        16,143,163  

BASF SE

     1,321,833        62,576,722  

Bayer AG Registered Shares

     1,348,320        78,188,650  

Bayerische Motoren Werke AG

     922,769        47,704,345  

Brenntag AG

     124,408        4,618,023  

Continental AG

     209,696        15,096,141  

Covestro AG(b)

     283,686        8,675,222  

Daimler AG Registered Shares

     2,002,416        60,465,616  

Duerr AG

     58,250        1,194,568  

Evonik Industries AG

     602,764        12,612,575  

Fresenius Medical Care AG & Co. KGaA

     150,662        9,951,899  

Fresenius SE & Co. KGaA

     266,932        9,937,800  

GEA Group AG

     176,469        3,625,734  

Hannover Rueck SE

     124,694        17,923,491  

Hapag-Lloyd AG(a)(b)

     21,605        1,687,874  

HeidelbergCement AG

     167,399        7,179,997  

Henkel AG & Co. KGaA

     157,253        11,620,968  

Hochtief AG

     91,348        6,064,014  

Infineon Technologies AG

     582,263        8,580,270  

K+S AG Registered Shares(a)

     82,690        481,604  

Krones AG

     21,479        1,149,639  

LANXESS AG

     53,217        2,126,650  

Merck KGaA

     50,854        5,223,956  

MTU Aero Engines AG

     20,370        2,980,505  

SAP SE

     444,209        50,105,594  

Siemens AG Registered Shares

     846,386        71,946,186  

Siemens Healthineers AG(b)

     527,648        20,868,685  

Siltronic AG

     70,720        5,296,809  

Symrise AG

     38,843        3,622,742  

Wacker Chemie AG

     49,245        2,459,092  

Wirecard AG

     4,304        494,216  
     

 

 

 
Total Germany

 

     550,602,750  
Ireland – 1.6%

 

CRH PLC

     984,268        26,837,713  

Glanbia PLC

     226,539        2,453,386  

Kerry Group PLC Class A

     55,862        6,448,192  
     

 

 

 
Total Ireland

 

     35,739,291  
Italy – 1.5%

 

Brunello Cucinelli SpA

     34,163        1,037,595  

Davide Campari-Milano SpA(a)

     312,645        2,246,977  

DiaSorin SpA

     23,685        3,136,797  

Ferrari N.V.

     65,886        10,233,136  

IMA Industria Macchine Automatiche SpA(a)

     49,601        2,900,837  

Moncler SpA

     138,234        5,049,338  

Pirelli & C SpA(a)(b)

     1,550,580        5,554,988  

Salvatore Ferragamo SpA(a)

     132,233        1,755,622  
     

 

 

 
Total Italy

 

     31,915,290  

 

See Notes to Financial Statements.

 

WisdomTree Trust      13  


Table of Contents

Schedule of Investments (continued)

WisdomTree Europe Hedged Equity Fund (HEDJ)

March 31, 2020

 

 

 

Investments    Shares      Value  
Netherlands – 14.2%

 

Aegon N.V.

     6,773,872      $ 17,199,114  

Akzo Nobel N.V.

     237,053        15,608,991  

Arcadis N.V.

     119,986        1,908,993  

ASM International N.V.

     50,351        5,046,321  

ASML Holding N.V.

     243,379        64,745,716  

BE Semiconductor Industries N.V.

     307,873        9,391,223  

Corbion N.V.

     60,450        1,794,857  

EXOR N.V.

     68,487        3,531,927  

Heineken Holding N.V.

     244,217        18,717,509  

Heineken N.V.

     446,972        37,351,926  

Koninklijke Ahold Delhaize N.V.

     1,878,697        43,876,921  

Koninklijke DSM N.V.

     181,402        20,600,994  

Koninklijke Philips N.V.

     1,007,666        40,815,510  

Koninklijke Vopak N.V.

     170,549        8,873,940  

SBM Offshore N.V.

     190,873        2,521,603  

Signify N.V.(b)

     297,294        5,770,583  

Wolters Kluwer N.V.

     205,394        14,464,160  
     

 

 

 
Total Netherlands

 

     312,220,288  
Portugal – 0.9%

 

Galp Energia, SGPS, S.A.

     1,738,703        19,831,504  
Spain – 9.5%

 

Acerinox S.A.

     440,611        3,003,257  

ACS Actividades de Construccion y Servicios S.A.

     545,219        10,657,677  

Banco Bilbao Vizcaya Argentaria S.A.

     16,606,793        53,125,688  

Banco Santander S.A.

     43,340,080        105,476,813  

Cie Automotive S.A.

     147,323        2,272,802  

Construcciones y Auxiliar de Ferrocarriles S.A.

     31,687        982,212  

Grifols S.A.

     332,099        11,296,268  

Mapfre S.A.

     8,024,669        13,705,093  

Prosegur Cash S.A.(b)

     3,008,250        2,891,504  

Prosegur Cia de Seguridad S.A.

     936,267      2,350,507  

Viscofan S.A.

     75,886        4,149,975  
     

 

 

 
Total Spain

 

     209,911,796  
Switzerland – 0.6%

 

STMicroelectronics N.V.(a)

     643,183        14,026,439  
United Kingdom – 6.5%

 

Fiat Chrysler Automobiles N.V.

     3,968,343        28,616,236  

Unilever N.V.

     2,303,928        113,266,409  
     

 

 

 
Total United Kingdom

 

     141,882,645  

TOTAL COMMON STOCKS

(Cost: $3,081,733,514)

 

 

     2,189,039,727  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 2.5%

 

United States – 2.5%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(c)

  
(Cost: $55,547,044)      55,547,044        55,547,044  
TOTAL INVESTMENTS IN SECURITIES – 102.0%

 

  

(Cost: $3,137,280,558)

 

     2,244,586,771  

Other Assets less Liabilities – (2.0)%

 

     (44,315,522
     

 

 

 
NET ASSETS – 100.0%

 

   $ 2,200,271,249  

 

*

Non-income producing security.

 

(a)

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $60,986,095. The Fund also had securities on loan having a total market value of $29,432 that were sold and pending settlement. The total market value of the collateral held by the Fund was $64,478,182. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $8,931,138.

 

(b)

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

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

Bank of America N.A.

    4/3/2020       34,793,932       EUR       38,555,087       USD     $     $ (376,387

Bank of America N.A.

    4/3/2020       14,399,233       EUR       16,064,620       USD             (264,623

Bank of America N.A.

    4/3/2020       20,996,464       EUR       22,490,467       USD       548,541        

Bank of America N.A.

    4/3/2020       15,019,952       EUR       16,064,620       USD       416,479        

Bank of America N.A.

    4/3/2020       14,872,748       EUR       16,064,620       USD       254,955        

Bank of America N.A.

    4/3/2020       94,869,917       EUR       102,813,565       USD       1,285,335        

Bank of America N.A.

    4/3/2020       198,874,848       EUR       218,221,791       USD             (319

Bank of America N.A.

    4/3/2020       251,122,132       USD       228,440,295       EUR       459,075        

Bank of America N.A.

    5/6/2020       173,954,068       USD       158,341,299       EUR             (13,273

Bank of Montreal

    4/3/2020       50,361,352       EUR       54,619,706       USD       640,818        

Bank of Montreal

    4/3/2020       198,871,948       EUR       218,221,791       USD             (3,501

Bank of Montreal

    4/3/2020       251,122,132       USD       228,183,734       EUR       740,594        

Bank of Montreal

    5/6/2020       173,954,068       USD       158,333,517       EUR             (4,723

Canadian Imperial Bank of Commerce

    4/3/2020       198,877,023       EUR       218,221,791       USD       2,067        

Canadian Imperial Bank of Commerce

    4/3/2020       251,122,132       USD       228,673,276       EUR       203,429        

Canadian Imperial Bank of Commerce

    5/6/2020       173,954,068       USD       158,337,984       EUR             (9,631

 

See Notes to Financial Statements.

 

14   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Europe Hedged Equity Fund (HEDJ)

March 31, 2020

 

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

Citibank N.A.

    4/3/2020       28,699,710       EUR       32,129,239       USD     $     $ (637,610

Citibank N.A.

    4/3/2020       31,856,231       EUR       35,342,163       USD             (386,945

Citibank N.A.

    4/3/2020       198,865,061       EUR       218,221,791       USD             (11,058

Citibank N.A.

    4/3/2020       251,122,132       USD       228,183,734       EUR       740,594        

Citibank N.A.

    5/6/2020       173,954,068       USD       158,345,047       EUR             (17,391

Commonwealth Bank of Australia

    4/3/2020       99,437,335       EUR       109,110,897       USD             (259

Commonwealth Bank of Australia

    4/3/2020       251,122,132       USD       228,550,486       EUR       338,164        

Commonwealth Bank of Australia

    5/6/2020       86,977,043       USD       79,167,343       EUR             (2,995

Credit Suisse International

    4/3/2020       198,866,692       EUR       218,221,791       USD             (9,268

Credit Suisse International

    4/3/2020       251,122,132       USD       228,182,905       EUR       741,504        

Credit Suisse International

    5/6/2020       173,954,068       USD       158,337,696       EUR             (9,315

Goldman Sachs

    4/3/2020       198,865,786       EUR       218,221,791       USD             (10,262

Goldman Sachs

    4/3/2020       251,122,132       USD       228,177,099       EUR       747,874        

Goldman Sachs

    5/6/2020       173,954,068       USD       158,340,290       EUR             (12,165

HSBC Holdings PLC

    4/3/2020       198,869,773       EUR       218,221,791       USD             (5,887

HSBC Holdings PLC

    4/3/2020       251,122,132       USD       228,191,406       EUR       732,176        

HSBC Holdings PLC

    5/6/2020       173,954,068       USD       158,337,264       EUR             (8,840

JP Morgan Chase Bank N.A.

    4/3/2020       35,814,025       EUR       38,555,087       USD       742,940        

JP Morgan Chase Bank N.A.

    4/3/2020       34,953,037       EUR       38,555,087       USD             (201,805

JP Morgan Chase Bank N.A.

    4/3/2020       198,875,754       EUR       218,221,791       USD       675        

JP Morgan Chase Bank N.A.

    4/3/2020       188,341,599       USD       171,445,320       EUR       218,011        

JP Morgan Chase Bank N.A.

    5/6/2020       173,954,068       USD       158,334,814       EUR             (6,148

Morgan Stanley & Co. International

    4/3/2020       198,869,411       EUR       218,221,791       USD             (6,285

Morgan Stanley & Co. International

    4/3/2020       251,122,132       USD       228,177,307       EUR       747,647        

Morgan Stanley & Co. International

    5/6/2020       173,954,068       USD       158,337,696       EUR             (9,315

Societe Generale

    4/3/2020       198,867,055       EUR       218,221,791       USD             (8,870

Societe Generale

    4/3/2020       188,341,599       USD       171,570,575       EUR       80,570        

Societe Generale

    5/6/2020       173,954,068       USD       158,332,940       EUR             (4,089

Standard Chartered Bank

    4/3/2020       198,853,464       EUR       218,221,791       USD             (23,784

Standard Chartered Bank

    4/3/2020       188,341,599       USD       171,456,557       EUR       205,680        

Standard Chartered Bank

    5/6/2020       173,954,068       USD       158,322,132       EUR       7,785        

UBS AG

    4/3/2020       198,876,660       EUR       218,221,791       USD       1,670        

UBS AG

    4/3/2020       313,902,665       USD       285,796,052       EUR       304,260        

UBS AG

    5/6/2020       173,954,068       USD       158,332,652       EUR             (3,773
                                            $ 10,160,843     $ (2,048,521

 

See Notes to Financial Statements.

 

WisdomTree Trust      15  


Table of Contents

Schedule of Investments

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.6%

 

Austria – 6.8%

 

Andritz AG*

     15,696      $ 492,218  

AT&S Austria Technologie & Systemtechnik AG

     2,787        41,008  

BAWAG Group AG(a)

     12,203        342,510  

FACC AG(b)

     1,105        9,451  

Lenzing AG

     4,156        229,833  

Oesterreichische Post AG(b)

     14,095        504,183  

Palfinger AG

     2,243        40,904  

POLYTEC Holding AG

     3,112        14,751  

Porr AG(b)

     4,901        80,987  

S IMMO AG

     4,036        77,942  

S&T AG

     1,513        28,704  

Schoeller-Bleckmann Oilfield Equipment AG

     703        23,141  

Telekom Austria AG*

     26,211        182,626  

UNIQA Insurance Group AG

     39,330        304,673  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     11,626        218,649  

Voestalpine AG(b)

     30,910        628,633  

Wienerberger AG

     8,324        131,431  
     

 

 

 
Total Austria

 

     3,351,644  
Belgium – 6.0%

 

Ackermans & van Haaren N.V.

     1,769        230,401  

Bekaert S.A.

     5,710        95,796  

bpost S.A.

     77,666        547,959  

Cofinimmo S.A.

     1,670        218,423  

D’ieteren S.A./N.V.

     4,485        222,191  

Econocom Group S.A./N.V.

     28,295        44,987  

Elia Group S.A./N.V.

     4,715        460,962  

Euronav N.V.

     9,684        110,721  

Fagron

     1,575        31,073  

Greenyard N.V.*(b)

     8,436        36,007  

Melexis N.V.

     4,547        240,479  

Ontex Group N.V.

     7,540        131,545  

Orange Belgium S.A.

     5,541        97,521  

Recticel S.A.

     4,922        26,463  

Warehouses De Pauw CVA

     16,457        472,563  
     

 

 

 
Total Belgium

 

     2,967,091  
Finland – 10.7%

 

Aktia Bank Oyj

     7,225        57,158  

Atria Oyj

     2,423        21,934  

Bittium Oyj

     2,556        12,326  

Cargotec Oyj Class B

     5,651        104,976  

Caverion Oyj

     3,018        14,090  

Citycon Oyj(b)

     23,411        144,493  

Huhtamaki Oyj

     7,870        251,980  

Kemira Oyj

     19,817        192,001  

Kesko Oyj Class B

     9,661        546,988  

Kojamo Oyj

     16,821        318,934  

Konecranes Oyj

     9,002        154,138  

Lassila & Tikanoja Oyj

     3,837        48,417  

Metsa Board Oyj(b)

     64,329        350,666  

Metso Oyj

     17,246        411,012  

Nokian Renkaat Oyj(b)

     25,031      606,159  

Oriola Oyj Class B

     16,840        30,340  

Orion Oyj Class B

     15,153        619,841  

Outokumpu Oyj(b)

     67,519        168,174  

Raisio Oyj Class V

     18,531        60,186  

Revenio Group Oyj

     997        24,888  

Rovio Entertainment Oyj(a)(b)

     2,829        12,981  

Sanoma Oyj

     12,495        114,548  

Terveystalo Oyj*(a)

     8,187        73,033  

TietoEVRY Oyj

     12,665        274,876  

Tokmanni Group Corp.

     11,319        113,020  

Uponor Oyj

     11,968        108,995  

Valmet Oyj(b)

     13,551        265,706  

YIT Oyj(b)

     33,827        150,026  
     

 

 

 
Total Finland

 

     5,251,886  
France – 13.5%

 

Akka Technologies

     711        19,309  

AKWEL

     1,598        18,761  

Albioma S.A.

     2,485        73,756  

Alten S.A.

     1,055        75,765  

Beneteau S.A.

     6,436        42,972  

Chargeurs S.A.

     2,616        26,523  

Cie Plastic Omnium S.A.

     16,098        226,358  

Coface S.A.

     25,008        160,524  

Derichebourg S.A.

     21,870        59,416  

Elior Group S.A.(a)

     16,017        105,624  

Elis S.A.

     16,085        152,490  

Eurazeo SE

     4,712        212,600  

Europcar Mobility Group(a)(b)

     12,666        20,277  

Eutelsat Communications S.A.

     55,167        576,628  

Faurecia SE

     14,874        445,550  

Gaztransport Et Technigaz S.A.

     4,174        306,855  

Haulotte Group S.A.

     2,754        12,495  

Imerys S.A.

     11,757        295,677  

Ingenico Group S.A.

     3,967        421,960  

Interparfums S.A.

     2,171        72,893  

IPSOS

     4,976        103,738  

Jacquet Metal Service S.A.

     2,964        27,742  

Kaufman & Broad S.A.

     4,640        143,675  

Korian S.A.

     4,346        134,857  

Lagardere SCA

     22,355        282,084  

Maisons du Monde S.A.(a)

     3,332        26,707  

Manitou BF S.A.

     2,857        43,135  

Mersen S.A.

     1,409        25,819  

Metropole Television S.A.

     15,115        169,498  

Nexans S.A.

     1,497        44,383  

Nexity S.A.

     11,204        344,466  

Quadient

     4,800        84,269  

Rallye S.A.

     11,013        77,942  

Rexel S.A.

     37,554        279,378  

Rothschild & Co.

     3,446        69,951  

Rubis SCA

     8,755        365,621  

Societe BIC S.A.

     7,159        399,438  

 

See Notes to Financial Statements.

 

16   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

March 31, 2020

 

 

 

Investments    Shares      Value  

Sopra Steria Group

     1,455      $ 159,570  

SPIE S.A.

     17,595        176,747  

Television Francaise 1

     27,934        152,701  

Trigano S.A.

     1,660        105,825  

Vicat S.A.

     3,721        94,314  
     

 

 

 
Total France

 

     6,638,293  
Germany – 17.7%

 

Aareal Bank AG

     15,657        261,045  

alstria office REIT-AG

     19,449        278,279  

AURELIUS Equity Opportunities SE & Co. KGaA

     3,735        69,014  

Aurubis AG

     5,605        232,473  

BayWa AG

     2,328        64,882  

Bechtle AG

     1,381        177,139  

Bilfinger SE

     5,208        87,774  

Borussia Dortmund GmbH & Co. KGaA

     1,874        11,186  

CANCOM SE

     1,258        53,888  

CompuGroup Medical SE

     1,188        72,933  

CropEnergies AG

     6,922        60,533  

CTS Eventim AG & Co. KGaA

     4,476        202,247  

Dermapharm Holding SE

     3,910        162,600  

Deutsche Pfandbriefbank AG(a)

     38,196        292,955  

Deutz AG

     7,035        25,936  

DIC Asset AG

     9,879        102,652  

Duerr AG

     6,694        137,278  

Elmos Semiconductor AG

     1,546        32,129  

Encavis AG

     14,366        145,809  

Freenet AG

     36,971        651,700  

Fuchs Petrolub SE

     3,624        116,112  

GEA Group AG

     18,683        383,861  

Gerresheimer AG

     1,724        109,338  

GFT Technologies SE

     3,431        29,289  

GRENKE AG

     1,282        75,609  

Hamburger Hafen und Logistik AG

     6,442        89,840  

Hella GmbH & Co. KGaA

     8,883        258,877  

Hugo Boss AG

     10,551        267,547  

Indus Holding AG

     2,848        73,906  

Jenoptik AG

     2,250        36,785  

JOST Werke AG(a)

     1,586        38,372  

K+S AG Registered Shares

     9,211        53,647  

Krones AG

     2,341        125,299  

LANXESS AG

     5,474        218,751  

METRO AG

     51,039        440,628  

MLP SE

     8,620        43,981  

Nemetschek SE

     2,118        105,230  

PATRIZIA AG

     4,392        101,202  

Pfeiffer Vacuum Technology AG

     549        78,793  

ProSiebenSat.1 Media SE

     58,403        463,318  

Rheinmetall AG

     2,766        194,422  

RHOEN-KLINIKUM AG

     2,393        46,738  

RIB Software SE

     1,814        56,846  

Salzgitter AG

     4,304        51,051  

Scout24 AG(a)

     4,596        276,102  

Siltronic AG

     7,921        593,270  

Software AG

     5,351      160,289  

Stroeer SE & Co. KGaA

     5,635        293,322  

Suedzucker AG

     19,901        285,401  

Takkt AG

     8,745        67,936  

VERBIO Vereinigte BioEnergie AG

     5,201        47,595  

Wacker Chemie AG

     5,603        279,791  

Wacker Neuson SE

     5,639        62,121  

Wuestenrot & Wuerttembergische AG

     4,549        69,780  
     

 

 

 
Total Germany

 

     8,717,501  
Ireland – 0.7%

 

Glanbia PLC

     14,977        162,199  

Hibernia REIT PLC

     51,872        60,445  

Irish Continental Group PLC

     17,126        60,885  

Origin Enterprises PLC

     14,680        32,183  

Total Produce PLC

     29,226        27,258  
     

 

 

 
Total Ireland

 

     342,970  
Italy – 22.5%

 

A2A SpA

     444,910        553,105  

ACEA SpA

     23,202        368,638  

Amplifon SpA

     4,521        92,864  

Anima Holding SpA(a)

     70,309        188,855  

Aquafil SpA(b)

     3,692        13,612  

Ascopiave SpA

     25,339        93,558  

ASTM SpA

     19,565        343,054  

Avio SpA

     2,628        33,046  

Azimut Holding SpA

     32,838        474,895  

Banca Farmafactoring SpA(a)

     56,411        292,773  

Banca Generali SpA

     18,813        394,686  

Banca IFIS SpA

     15,309        149,500  

Banca Mediolanum SpA

     148,394        757,138  

Banca Popolare di Sondrio SCPA

     35,543        53,780  

Banca Sistema SpA(a)

     18,942        22,488  

BasicNet SpA

     4,336        15,748  

Biesse SpA(b)

     2,595        25,769  

BPER Banca

     55,350        170,052  

Brunello Cucinelli SpA

     2,144        65,117  

Buzzi Unicem SpA

     4,103        75,049  

Buzzi Unicem SpA RSP

     1,495        14,025  

Cairo Communication SpA

     21,499        37,130  

Cementir Holding N.V.

     11,230        60,613  

Credito Emiliano SpA

     38,082        160,456  

Danieli & C. Officine Meccaniche SpA RSP

     1,384        9,825  

Datalogic SpA(b)

     5,163        60,503  

De’ Longhi SpA

     9,510        159,027  

DiaSorin SpA

     1,483        196,406  

doValue SpA(a)

     9,395        58,244  

El.En. SpA

     1,390        24,449  

Enav SpA(a)

     64,831        285,397  

ERG SpA

     19,110        341,995  

Esprinet SpA

     7,579        26,778  

Falck Renewables SpA

     14,048        73,649  

Fiera Milano SpA

     7,039        21,471  

Fincantieri SpA(b)

     51,296        31,491  

 

See Notes to Financial Statements.

 

WisdomTree Trust      17  


Table of Contents

Schedule of Investments (continued)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

March 31, 2020

 

 

 

Investments    Shares      Value  

FinecoBank Banca Fineco SpA

     61,922      $ 563,255  

Freni Brembo SpA(b)

     22,570        168,278  

Geox SpA(b)

     14,046        11,389  

Gruppo MutuiOnline SpA

     2,298        38,427  

Hera SpA

     129,052        462,756  

IMA Industria Macchine Automatiche SpA(b)

     4,914        287,388  

Immobiliare Grande Distribuzione SIIQ SpA

     27,760        114,224  

Infrastrutture Wireless Italiane SpA(a)

     46,458        503,643  

Interpump Group SpA

     2,702        65,166  

Iren SpA

     119,505        295,036  

Italgas SpA

     97,396        533,163  

La Doria SpA

     2,748        26,414  

Maire Tecnimont SpA(b)

     42,644        67,613  

MARR SpA

     7,507        105,929  

Piaggio & C. SpA

     40,237        71,965  

Prima Industrie SpA

     846        11,975  

Prysmian SpA

     20,777        332,845  

RAI Way SpA(a)

     12,174        65,654  

Reply SpA

     857        52,377  

Rizzoli Corriere Della Sera Mediagroup SpA

     104,522        83,263  

SAES Getters SpA

     1,607        32,762  

Salvatore Ferragamo SpA(b)

     8,695        115,441  

Saras SpA

     183,098        170,769  

Societa Cattolica di Assicurazioni SC

     27,100        134,166  

Tod’s SpA(b)

     2,158        72,220  

Unieuro SpA(a)

     4,276        29,042  

Unione di Banche Italiane SpA

     181,117        478,345  

Unipol Gruppo SpA

     94,174        323,844  

Zignago Vetro SpA

     7,360        87,864  
     

 

 

 
Total Italy

 

     11,050,399  
Netherlands – 7.4%

 

Aalberts N.V.

     7,999        189,932  

Accell Group N.V.

     1,731        24,008  

AMG Advanced Metallurgical Group N.V.(b)

     1,868        26,441  

Arcadis N.V.

     7,704        122,572  

ASM International N.V.

     3,227        323,419  

ASR Nederland N.V.

     21,415        539,505  

BE Semiconductor Industries N.V.

     19,849        605,465  

Boskalis Westminster

     9,847        177,682  

Brunel International N.V.(b)

     3,036        16,856  

Corbion N.V.

     3,561        105,732  

Euronext N.V.(a)

     5,198        386,698  

ForFarmers N.V.

     13,585        84,071  

IMCD N.V.

     1,665        118,293  

Intertrust N.V.(a)

     9,875        123,415  

Koninklijke BAM Groep N.V.

     29,974        41,933  

Ordina N.V.

     8,267        12,463  

SBM Offshore N.V.

     12,657        167,210  

Signify N.V.(a)

     19,106        370,854  

Sligro Food Group N.V.

     3,137        46,675  

TKH Group N.V. CVA

     3,375        93,988  

Van Lanschot Kempen N.V.

     5,030        61,815  
     

 

 

 
Total Netherlands

 

     3,639,027  
Portugal – 3.1%

 

Altri, SGPS, S.A.

     29,702      118,043  

Corticeira Amorim, SGPS, S.A.

     6,409        58,157  

CTT-Correios de Portugal S.A.(b)

     21,178        53,075  

Mota-Engil, SGPS, S.A.(b)

     29,143        35,175  

Navigator Co. S.A. (The)

     170,533        403,799  

NOS, SGPS, S.A.

     95,926        321,238  

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

     118,232        300,974  

Semapa-Sociedade de Investimento e Gestao

     5,310        45,154  

Sonae, SGPS, S.A.

     304,374        196,878  
     

 

 

 
Total Portugal

 

     1,532,493  
Spain – 9.9%

 

Acciona S.A.

     5,018        536,009  

Acerinox S.A.

     29,495        201,041  

Almirall S.A.

     6,707        77,567  

Applus Services S.A.

     4,899        31,446  

Atresmedia Corp. de Medios de Comunicacion S.A.

     72,183        198,007  

Bolsas y Mercados Espanoles SHMSF S.A.

     18,326        664,778  

Cia de Distribucion Integral Logista Holdings S.A.

     22,300        356,998  

Cie Automotive S.A.

     9,792        151,065  

Construcciones y Auxiliar de Ferrocarriles S.A.

     1,711        53,036  

Ebro Foods S.A.

     11,865        242,281  

Ence Energia y Celulosa S.A.(b)

     52,920        145,166  

Ercros S.A.

     8,247        20,632  

Euskaltel S.A.(a)

     19,378        143,309  

Faes Farma S.A.

     27,579        107,276  

Gestamp Automocion S.A.(a)

     44,668        113,904  

Grupo Catalana Occidente S.A.

     9,383        189,643  

Liberbank S.A.

     184,543        27,660  

Mediaset Espana Comunicacion S.A.

     57,951        214,669  

Melia Hotels International S.A.

     13,818        58,828  

Metrovacesa S.A.(a)

     14,533        81,167  

Prosegur Cash S.A.(a)

     165,659        159,230  

Prosegur Cia de Seguridad S.A.

     56,176        141,030  

Sacyr S.A.

     79,445        121,342  

Tubacex S.A.

     6,538        9,183  

Unicaja Banco S.A.(a)

     239,574        139,323  

Viscofan S.A.

     4,992        272,997  

Zardoya Otis S.A.

     63,709        429,914  
     

 

 

 
Total Spain

 

     4,887,501  
Sweden – 0.3%

 

Ahlstrom-Munksjo Oyj(b)

     11,411        139,731  

TOTAL COMMON STOCKS

(Cost: $71,493,782)

 

 

     48,518,536  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 4.5%

 

United States – 4.5%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $2,223,438)      2,223,438        2,223,438  
TOTAL INVESTMENTS IN SECURITIES – 103.1% (Cost: $73,717,220)

 

     50,741,974  

Other Assets less Liabilities – (3.1)%

 

     (1,545,236
     

 

 

 
NET ASSETS – 100.0%

 

   $ 49,196,738  

 

See Notes to Financial Statements.

 

18   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

March 31, 2020

 

 

 

*

Non-income producing security.

 

(a) 

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

 

(b) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $3,512,124. The Fund also had securities on loan having a total market value of $607 that were sold and pending settlement. The total market value of the collateral held by the Fund was $3,607,877. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,384,439.

 

(c)

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

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

Bank of America N.A.

    4/3/2020       2,765,903       EUR       3,064,892       USD     $     $ (29,920

Bank of America N.A.

    4/3/2020       12,317,865       EUR       13,516,171       USD             (20

Bank of America N.A.

    4/3/2020       15,447,053       USD       14,035,056       EUR       46,661        

Bank of America N.A.

    5/6/2020       10,066,434       USD       9,163,032       EUR             (860

Citibank N.A.

    4/3/2020       12,317,258       EUR       13,516,171       USD             (685

Citibank N.A.

    4/3/2020       15,447,053       USD       14,035,936       EUR       45,695        

Citibank N.A.

    5/6/2020       10,066,434       USD       9,162,916       EUR             (731

Credit Suisse International

    4/3/2020       9,384,657       EUR       10,298,038       USD             (437

Credit Suisse International

    4/3/2020       15,447,053       USD       14,036,051       EUR       45,570        

Credit Suisse International

    5/6/2020       7,669,664       USD       6,981,136       EUR             (411

Goldman Sachs

    4/3/2020       2,788,205       EUR       3,064,892       USD             (5,450

Goldman Sachs

    4/3/2020       12,317,314       EUR       13,516,171       USD             (623

Goldman Sachs

    4/3/2020       15,447,053       USD       14,040,452       EUR       40,740        

Goldman Sachs

    5/6/2020       10,066,434       USD       9,162,132       EUR       130        

JP Morgan Chase Bank N.A.

    4/2/2020       28,000       USD       25,391       EUR       140        

JP Morgan Chase Bank N.A.

    4/3/2020       2,846,994       EUR       3,064,892       USD       59,059        

JP Morgan Chase Bank N.A.

    4/3/2020       11,769,186       USD       10,693,787       EUR       35,103        

UBS AG

    4/3/2020       12,317,236       EUR       13,516,171       USD             (710

UBS AG

    5/6/2020       10,066,434       USD       9,161,815       EUR       478        
                                            $ 273,576     $ (39,847

 

See Notes to Financial Statements.

 

WisdomTree Trust      19  


Table of Contents

Schedule of Investments

WisdomTree Germany Hedged Equity Fund (DXGE)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.5%

 

Germany – 98.5%

 

Aerospace & Defense – 0.5%

 

MTU Aero Engines AG

     1,031      $ 150,854  
Air Freight & Logistics – 4.0%

 

Deutsche Post AG Registered Shares

     43,755        1,189,452  
Auto Components – 2.1%

 

Continental AG

     6,964        501,343  

Hella GmbH & Co. KGaA

     4,590        133,766  
     

 

 

 
Total Auto Components

 

     635,109  
Automobiles – 13.4%

 

Bayerische Motoren Werke AG

     29,063        1,502,469  

Daimler AG Registered Shares

     44,832        1,353,762  

Volkswagen AG

     8,347        1,111,872  
     

 

 

 
Total Automobiles

 

     3,968,103  
Banks – 0.7%

 

Commerzbank AG

     52,774        191,583  
Capital Markets – 2.8%

 

AURELIUS Equity Opportunities SE & Co. KGaA

     959        17,720  

Deutsche Boerse AG

     4,010        549,997  

DWS Group GmbH & Co. KGaA(a)

     10,953        270,890  
     

 

 

 
Total Capital Markets

 

     838,607  
Chemicals – 10.1%

 

BASF SE

     32,604        1,543,502  

Covestro AG(a)

     10,968        335,405  

Evonik Industries AG

     21,431        448,434  

Fuchs Petrolub SE

     4,462        142,961  

K+S AG Registered Shares

     2,465        14,357  

LANXESS AG

     3,283        131,195  

Symrise AG

     2,292        213,766  

Wacker Chemie AG

     3,119        155,750  
     

 

 

 
Total Chemicals

 

     2,985,370  
Commercial Services & Supplies – 0.1%

 

Bilfinger SE

     1,342        22,618  
Construction & Engineering – 0.8%

 

Hochtief AG

     3,587        238,118  
Construction Materials – 0.9%

 

HeidelbergCement AG

     6,501        278,838  
Diversified Financial Services – 0.1%

 

GRENKE AG

     334        19,698  
Diversified Telecommunication Services – 6.5%

 

Deutsche Telekom AG Registered Shares

     149,075        1,932,447  
Electronic Equipment, Instruments & Components – 0.0%

 

Jenoptik AG

     643        10,512  
Entertainment – 0.5%

 

CTS Eventim AG & Co. KGaA

     3,183        143,823  
Food & Staples Retailing – 0.6%

 

METRO AG

     21,000        181,296  
Food Products – 0.6%

 

Suedzucker AG

     12,105      173,599  
Health Care Equipment & Supplies – 2.5%

 

Carl Zeiss Meditec AG Bearer Shares

     456        44,206  

Siemens Healthineers AG(a)

     17,633        697,392  
     

 

 

 
Total Health Care Equipment & Supplies

 

     741,598  
Health Care Providers & Services – 2.6%

 

Fresenius Medical Care AG & Co. KGaA

     5,965        394,015  

Fresenius SE & Co. KGaA

     9,804        365,000  
     

 

 

 
Total Health Care Providers & Services

 

     759,015  
Health Care Technology – 0.1%

 

CompuGroup Medical SE

     335        20,566  
Hotels, Restaurants & Leisure – 0.8%

 

TUI AG

     49,197        221,810  
Household Products – 1.5%

 

Henkel AG & Co. KGaA

     5,866        433,496  
Independent Power & Renewable Electricity Producers – 1.1%

 

Uniper SE

     13,646        336,745  
Industrial Conglomerates – 6.0%

 

Indus Holding AG

     774        20,085  

Rheinmetall AG

     1,806        126,943  

Siemens AG Registered Shares

     18,990        1,614,226  
     

 

 

 
Total Industrial Conglomerates

 

     1,761,254  
Insurance – 12.8%

 

Allianz SE Registered Shares

     10,269        1,767,671  

Hannover Rueck SE

     4,187        601,839  

Muenchener Rueckversicherungs – Gesellschaft AG Registered Shares

     5,312        1,073,044  

Talanx AG

     10,376        352,482  
     

 

 

 
Total Insurance

 

     3,795,036  
IT Services – 0.2%

 

Bechtle AG

     373        47,844  

Wirecard AG

     131        15,043  
     

 

 

 
Total IT Services

 

     62,887  
Life Sciences Tools & Services – 0.1%

 

Gerresheimer AG

     465        29,491  
Machinery – 1.8%

 

Duerr AG

     5,438        111,520  

GEA Group AG

     8,592        176,531  

KION Group AG

     3,948        170,852  

Krones AG

     641        34,309  

Pfeiffer Vacuum Technology AG

     153        21,959  

Wacker Neuson SE

     1,585        17,461  
     

 

 

 
Total Machinery

 

     532,632  
Marine – 0.2%

 

Hapag-Lloyd AG(a)

     628        49,062  
Media – 0.6%

 

ProSiebenSat.1 Media SE

     23,255        184,485  

 

See Notes to Financial Statements.

 

20   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Germany Hedged Equity Fund (DXGE)

March 31, 2020

 

 

 

Investments    Shares      Value  
Metals & Mining – 0.5%

 

Aurubis AG

     3,496      $ 145,000  

Salzgitter AG

     1,187        14,080  
     

 

 

 
Total Metals & Mining

 

     159,080  
Multi-Utilities – 4.6%

 

E.ON SE

     86,550        896,583  

RWE AG

     18,040        474,274  
     

 

 

 
Total Multi-Utilities

 

     1,370,857  
Personal Products – 0.8%

 

Beiersdorf AG

     2,362        239,888  
Pharmaceuticals – 6.8%

 

Bayer AG Registered Shares

     30,308        1,757,551  

Merck KGaA

     2,464        253,114  
     

 

 

 
Total Pharmaceuticals

 

     2,010,665  
Real Estate Management & Development – 0.1%

 

PATRIZIA AG

     1,184        27,282  
Semiconductors & Semiconductor Equipment – 1.9%

 

Infineon Technologies AG

     22,183        326,890  

Siltronic AG

     3,303        247,389  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     574,279  
Software – 5.4%

 

Nemetschek SE

     571        28,369  

SAP SE

     13,644        1,539,007  

Software AG

     1,463      43,824  
     

 

 

 
Total Software

 

     1,611,200  
Specialty Retail – 0.7%

 

Fielmann AG

     3,515        204,991  
Textiles, Apparel & Luxury Goods – 2.5%

 

adidas AG

     2,409        544,251  

Hugo Boss AG

     5,371        136,195  

Puma SE

     793        47,334  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     727,780  
Thrifts & Mortgage Finance – 0.4%

 

Aareal Bank AG

     7,794        129,947  
Trading Companies & Distributors – 0.7%

 

Brenntag AG

     5,743        213,180  
Transportation Infrastructure – 0.1%

 

Hamburger Hafen und Logistik AG      1,671        23,304  

TOTAL INVESTMENTS IN SECURITIES – 98.5%

(Cost: $43,951,959)

 

 

     29,180,557  

Other Assets less Liabilities – 1.5%

 

     441,656  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 29,622,213  

 

(a) 

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

 

 

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

Bank of America N.A.

    4/3/2020       7,254,889       EUR       7,960,659       USD     $     $ (12

Bank of America N.A.

    4/3/2020       8,266,839       USD       7,511,177       EUR       24,972        

Bank of America N.A.

    5/6/2020       6,115,999       USD       5,567,125       EUR             (522

Citibank N.A.

    4/3/2020       1,314,188       EUR       1,457,996       USD             (15,963

Citibank N.A.

    4/3/2020       7,254,532       EUR       7,960,659       USD             (403

Citibank N.A.

    4/3/2020       8,266,839       USD       7,511,648       EUR       24,455        

Citibank N.A.

    5/6/2020       6,115,999       USD       5,567,054       EUR             (444

Credit Suisse International

    4/3/2020       5,527,311       EUR       6,065,268       USD             (258

Credit Suisse International

    4/3/2020       8,266,839       USD       7,511,709       EUR       24,388        

Credit Suisse International

    5/6/2020       4,659,809       USD       4,241,484       EUR             (250

Goldman Sachs

    4/3/2020       7,254,565       EUR       7,960,659       USD             (367

Goldman Sachs

    4/3/2020       8,266,839       USD       7,514,065       EUR       21,803        

Goldman Sachs

    5/6/2020       6,115,999       USD       5,566,578       EUR       79        

JP Morgan Chase Bank N.A.

    4/2/2020       13,000       USD       11,789       EUR       65        

JP Morgan Chase Bank N.A.

    4/3/2020       6,298,544       USD       5,723,020       EUR       18,786        

UBS AG

    4/3/2020       7,254,519       EUR       7,960,659       USD             (418

UBS AG

    5/6/2020       6,115,999       USD       5,566,385       EUR       290        
                                            $ 114,838     $ (18,637

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Table of Contents

Schedule of Investments

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.3%

 

Australia – 3.3%

 

Altium Ltd.

     29,567      $ 517,379  

Appen Ltd.

     18,264        220,104  

Beach Energy Ltd.

     751,879        529,216  

BlueScope Steel Ltd.

     168,791        891,553  

Cochlear Ltd.

     12,119        1,390,398  

Corporate Travel Management Ltd.(a)

     128,325        684,880  

CSL Ltd.

     52,066        9,454,303  

Domino’s Pizza Enterprises Ltd.(a)

     35,705        1,116,701  

IDP Education Ltd.

     23,899        169,093  

Invocare Ltd.

     63,039        405,508  

Magellan Financial Group Ltd.(a)

     78,116        2,080,731  

NIB Holdings Ltd.(a)

     192,969        605,887  

Northern Star Resources Ltd.

     72,445        466,900  

Reece Ltd.

     41,937        233,575  

St Barbara Ltd.

     368,207        480,019  

Technology One Ltd.

     92,778        454,278  

Webjet Ltd.(a)

     20,770        46,654  
     

 

 

 
Total Australia               19,747,179  
Austria – 0.1%      

S IMMO AG

     42,613        822,925  
Belgium – 0.3%

 

bpost S.A.

     272,524        1,922,744  
China – 2.7%

 

Beijing Tong Ren Tang Chinese Medicine Co., Ltd.(a)

     118,000        173,554  

China Overseas Land & Investment Ltd.

     3,236,000        10,040,873  

CSPC Pharmaceutical Group Ltd.

     944,000        1,890,216  

Guangdong Investment Ltd.

     1,988,000        3,831,906  
     

 

 

 
Total China               15,936,549  
Denmark – 8.0%      

Ambu A/S Class B(a)

     9,101        221,075  

Chr Hansen Holding A/S

     13,095        979,699  

Coloplast A/S Class B

     39,896        5,787,759  

DSV Panalpina A/S(a)

     8,859        805,292  

GN Store Nord A/S

     9,768        436,348  

Novo Nordisk A/S Class B

     437,712        26,333,647  

Novozymes A/S Class B

     39,559        1,799,141  

Orsted A/S(b)

     67,763        6,639,993  

Rockwool International A/S Class B

     2,618        473,494  

Royal Unibrew A/S

     13,409        966,715  

SimCorp A/S

     5,733        481,347  

Vestas Wind Systems A/S

     26,999        2,193,808  
     

 

 

 
Total Denmark               47,118,318  
Finland – 2.9%      

Kone Oyj Class B

     146,703        8,309,267  

Metsa Board Oyj(a)

     241,729        1,317,699  

Neste Oyj

     162,196        5,490,363  

Wartsila Oyj Abp(a)

     271,591        1,993,642  
     

 

 

 
Total Finland               17,110,971  
France – 5.4%      

Gaztransport Et Technigaz S.A.

     13,883      1,020,619  

Hermes International

     7,853        5,418,186  

Ipsen S.A.

     8,619        446,191  

Kering S.A.

     26,573        13,875,928  

Rubis SCA

     28,232        1,179,006  

Safran S.A.

     60,334        5,305,389  

Sartorius Stedim Biotech

     3,711        745,157  

Teleperformance

     5,715        1,190,195  

Trigano S.A.

     9,234        588,670  

Valeo S.A.

     140,517        2,351,281  
     

 

 

 
Total France               32,120,622  
Germany – 7.6%      

adidas AG

     25,725        5,811,891  

Bechtle AG

     5,561        713,302  

CANCOM SE

     4,292        183,855  

CTS Eventim AG & Co. KGaA

     23,422        1,058,318  

Dermapharm Holding SE

     11,417        474,785  

Deutsche Wohnen SE Bearer Shares

     74,559        2,839,621  

Fuchs Petrolub SE

     27,810        891,024  

Hochtief AG

     37,935        2,518,264  

Infineon Technologies AG

     212,213        3,127,186  

Nemetschek SE

     6,691        332,432  

SAP SE

     155,725        17,565,366  

Siemens Healthineers AG(b)

     183,751        7,267,424  

Siltronic AG

     26,326        1,971,773  

Wirecard AG

     1,313        150,768  
     

 

 

 
Total Germany               44,906,009  
Hong Kong – 1.2%      

Galaxy Entertainment Group Ltd.

     852,000        4,545,304  

Techtronic Industries Co., Ltd.

     302,500        1,963,095  

Vitasoy International Holdings Ltd.(a)

     90,000        272,872  
     

 

 

 
Total Hong Kong               6,781,271  
Ireland – 0.3%      

Hibernia REIT PLC

     180,962        210,871  

Kerry Group PLC Class A

     11,661        1,346,038  
     

 

 

 
Total Ireland               1,556,909  
Italy – 1.6%      

De’ Longhi SpA

     36,444        609,420  

DiaSorin SpA

     6,287        832,639  

Ferrari N.V.

     15,980        2,481,946  

IMA Industria Macchine Automatiche SpA(a)

     13,513        790,287  

Interpump Group SpA

     12,930        311,840  

Moncler SpA

     35,143        1,283,685  

Recordati SpA

     57,766        2,442,810  

Reply SpA

     2,985        182,434  

Salvatore Ferragamo SpA(a)

     41,246        547,612  
     

 

 

 
Total Italy               9,482,673  
Japan – 20.6%

 

Advantest Corp.(a)

     68,000        2,733,732  

Asahi Intecc Co., Ltd.

     12,200        301,963  

Astellas Pharma, Inc.

     482,300        7,465,363  

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2020

 

 

 

Investments    Shares      Value  

Bandai Namco Holdings, Inc.(a)

     59,400      $ 2,883,751  

Chugai Pharmaceutical Co., Ltd.

     68,400        7,919,967  

Daifuku Co., Ltd.(a)

     18,300        1,161,178  

Daito Trust Construction Co., Ltd.

     32,500        3,030,082  

Disco Corp.

     6,800        1,345,449  

Elecom Co., Ltd.

     7,400        258,080  

en-japan, Inc.(a)

     11,250        210,713  

Fast Retailing Co., Ltd.

     7,800        3,192,830  

Funai Soken Holdings, Inc.

     9,600        190,924  

GMO Payment Gateway, Inc.

     3,300        231,708  

Harmonic Drive Systems, Inc.(a)

     8,100        354,523  

Haseko Corp.

     232,500        2,491,802  

Hikari Tsushin, Inc.

     8,400        1,410,699  

Hoya Corp.

     41,200        3,511,093  

Infocom Corp.

     5,200        118,831  

Japan Lifeline Co., Ltd.(a)

     12,600        158,966  

Japan Material Co., Ltd.

     12,800        168,248  

JINS Holdings, Inc.

     3,500        192,256  

Kakaku.com, Inc.

     43,200        794,331  

Kaken Pharmaceutical Co., Ltd.

     12,800        596,397  

Kao Corp.

     70,600        5,774,610  

Keyence Corp.

     6,900        2,226,178  

Kobe Bussan Co., Ltd.(a)

     11,400        449,854  

Koshidaka Holdings Co., Ltd.(a)

     45,400        154,340  

Kotobuki Spirits Co., Ltd.

     3,100        139,702  

Kusuri no Aoki Holdings Co., Ltd.

     100        8,318  

Lasertec Corp.

     7,800        365,597  

M3, Inc.(a)

     24,800        733,972  

Mani, Inc.

     5,200        127,598  

Maruwa Unyu Kikan Co., Ltd.

     5,600        126,831  

McDonald’s Holdings Co., Japan Ltd.

     4,600        207,512  

Meitec Corp.

     14,200        565,606  

Mixi, Inc.

     68,900        1,001,381  

MonotaRO Co., Ltd.(a)

     10,800        286,919  

Murata Manufacturing Co., Ltd.

     131,520        6,666,458  

Nidec Corp.

     53,400        2,773,506  

Nihon M&A Center, Inc.

     9,800        268,251  

Nintendo Co., Ltd.

     30,500        11,755,870  

Nippon Shinyaku Co., Ltd.

     4,600        361,336  

Nissan Chemical Corp.

     26,800        978,111  

Obic Co., Ltd.

     8,200        1,075,559  

Open House Co., Ltd.

     28,900        595,642  

Oracle Corp.

     17,600        1,539,012  

Outsourcing, Inc.

     62,600        272,539  

Pigeon Corp.(a)

     18,800        721,838  

Pilot Corp.

     8,700        289,718  

Recruit Holdings Co., Ltd.

     128,900        3,338,469  

Relo Group, Inc.

     8,000        167,996  

Round One Corp.

     50,900        264,979  

SCSK Corp.

     17,400        776,073  

Seria Co., Ltd.

     16,100        466,051  

Shimano, Inc.

     8,600        1,229,994  

Shin-Etsu Chemical Co., Ltd.

     88,500        8,796,304  

Shionogi & Co., Ltd.

     45,300        2,231,116  

Showa Denko K.K.

     83,500      1,730,253  

SMS Co., Ltd.

     3,000        58,163  

Sysmex Corp.

     16,300        1,184,658  

Systena Corp.

     5,700        77,404  

TechnoPro Holdings, Inc.

     7,800        366,319  

Toei Animation Co., Ltd.(a)

     10,200        477,143  

Tokai Carbon Co., Ltd.(a)

     105,800        874,194  

Tokyo Electron Ltd.

     82,500        15,555,440  

Tosho Co., Ltd.

     32,000        294,345  

Trend Micro, Inc.

     52,600        2,601,862  

Ulvac, Inc.

     19,400        465,435  

United Arrows Ltd.

     26,500        398,893  

Workman Co., Ltd.(a)

     5,900        324,635  
     

 

 

 
Total Japan               121,868,870  
Kazakhstan – 0.1%      

KAZ Minerals PLC

     97,063        422,681  
Netherlands – 3.9%

 

ASM International N.V.

     13,634        1,366,438  

ASML Holding N.V.

     49,711        13,224,536  

Euronext N.V.(b)

     17,266        1,284,479  

Koninklijke DSM N.V.(a)

     38,976        4,426,326  

Wolters Kluwer N.V.

     41,525        2,924,254  
     

 

 

 
Total Netherlands               23,226,033  
New Zealand – 0.5%      

Fisher & Paykel Healthcare Corp., Ltd.

     109,875        1,978,935  

Mainfreight Ltd.

     27,133        555,765  

Ryman Healthcare Ltd.

     107,290        655,151  
     

 

 

 
Total New Zealand               3,189,851  
Norway – 2.4%      

Borregaard ASA

     33,969        313,132  

Mowi ASA

     262,932        3,972,399  

Telenor ASA

     665,416        9,625,435  
     

 

 

 
Total Norway               13,910,966  
Portugal – 0.5%      

Jeronimo Martins, SGPS, S.A.

     156,953        2,831,243  
Singapore – 0.6%

 

First Resources Ltd.

     499,300        424,310  

Sheng Siong Group Ltd.

     619,100        517,420  

Singapore Technologies Engineering Ltd.

     1,219,900        2,673,096  
     

 

 

 
Total Singapore               3,614,826  
Spain – 5.0%      

Cie Automotive S.A.

     66,849        1,031,302  

Faes Farma S.A.

     116,777        454,234  

Grifols S.A.(a)

     63,974        2,176,060  

Industria de Diseno Textil S.A.

     994,095        25,807,645  

Prosegur Cash S.A.(b)

     270,469        259,973  
     

 

 

 
Total Spain               29,729,214  
Sweden – 2.7%      

AAK AB

     36,678        599,349  

AddTech AB Class B

     20,121        496,541  

Atlas Copco AB Class B

     105,388        3,116,635  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2020

 

 

 

Investments    Shares      Value  

Beijer Ref AB

     26,856      $ 484,659  

Epiroc AB Class A

     148,622        1,476,965  

Evolution Gaming Group AB(b)

     27,563        940,308  

Lifco AB Class B

     14,146        521,139  

Nolato AB Class B

     15,280        693,080  

Paradox Interactive AB(a)

     21,173        339,359  

Sandvik AB

     360,589        5,140,769  

Sectra AB Class B*

     4,834        183,452  

Sweco AB Class B

     33,117        947,948  

Thule Group AB(b)

     46,302        807,552  

Vitrolife AB

     14,787        213,872  
     

 

 

 
Total Sweden               15,961,628  
Switzerland – 7.7%      

Givaudan S.A. Registered Shares

     1,834        5,677,050  

Kuehne + Nagel International AG Registered Shares

     51,831        7,116,685  

Logitech International S.A. Registered Shares

     38,093        1,647,265  

Partners Group Holding AG

     8,317        5,755,840  

Roche Holding AG Bearer Shares

     39,444        12,645,888  

Schindler Holding AG Participation Certificate

     5,767        1,265,992  

Schindler Holding AG Registered Shares

     13,762        2,907,294  

SFS Group AG

     10,933        813,577  

SGS S.A. Registered Shares

     2,234        5,176,609  

Sonova Holding AG Registered Shares

     6,535        1,177,928  

Straumann Holding AG Registered Shares

     1,520        1,133,304  

Temenos AG Registered Shares*

     3,809        499,573  
     

 

 

 
Total Switzerland               45,817,005  
United Kingdom – 20.9%      

Abcam PLC

     8,202        116,244  

Ashmore Group PLC(a)

     217,163        960,760  

Ashtead Group PLC

     76,481        1,674,270  

Barratt Developments PLC

     607,491        3,321,870  

British American Tobacco PLC

     685,887        23,464,349  

Compass Group PLC

     244,900        3,838,310  

Cranswick PLC

     7,096        325,375  

Croda International PLC

     21,423        1,134,791  

Diageo PLC

     359,274        11,522,389  

Diploma PLC

     22,691        454,110  

Diversified Gas & Oil PLC(a)

     388,544        423,962  

Domino’s Pizza Group PLC(a)

     163,419        575,473  

Evraz PLC

     1,108,041        3,181,989  

FDM Group Holdings PLC(a)

     35,524        325,515  

Ferrexpo PLC

     221,317        323,955  

Fevertree Drinks PLC

     13,534        203,392  

Fresnillo PLC

     134,700        1,113,698  

Games Workshop Group PLC

     8,438        453,035  

Greggs PLC

     21,882        437,920  

Halma PLC

     25,512        607,682  

Hargreaves Lansdown PLC

     73,941        1,270,729  

HomeServe PLC

     55,993        734,554  

Intertek Group PLC

     23,795        1,394,388  

JD Sports Fashion PLC

     55,134        312,899  

John Laing Group PLC(b)

     147,283      620,190  

Marshalls PLC

     46,276        335,960  

Moneysupermarket.com Group PLC

     252,533        951,597  

NMC Health PLC

     3,385        4  

Pagegroup PLC

     161,926        731,241  

RELX PLC

     270,193        5,802,648  

Renishaw PLC

     9,638        378,118  

Rio Tinto PLC

     417,723        19,260,183  

Rotork PLC

     259,711        692,684  

Softcat PLC

     53,612        689,358  

Spirax-Sarco Engineering PLC

     6,415        649,467  

Unilever N.V.

     477,083        23,454,500  

Unilever PLC

     231,195        11,683,248  

Unite Group PLC (The)

     58,810        584,466  
     

 

 

 
Total United Kingdom               124,005,323  

TOTAL COMMON STOCKS

(Cost: $620,805,766)

 

 

     582,083,810  
EXCHANGE-TRADED FUND – 0.3%

 

United States – 0.3%

 

WisdomTree International Quality Dividend Growth Fund(c)

     
(Cost: $2,245,332)      77,558        1,986,206  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.7%

 

United States – 1.7%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(d)

 

  
(Cost: $10,164,287)      10,164,287        10,164,287  

TOTAL INVESTMENTS IN SECURITIES – 100.3%

(Cost: $633,215,385)

 

 

     594,234,303  

Other Assets less Liabilities – (0.3)%

 

     (1,888,461
     

 

 

 
NET ASSETS – 100.0%

 

   $ 592,345,842  

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $46,658, which represents 0.01% of net assets.

 

*

Non-income producing security.

 

(a)

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $16,684,708. The Fund also had securities on loan having a total market value of $1,091,949 that were sold and pending settlement. The total market value of the collateral held by the Fund was $18,680,460. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $8,516,173.

 

(b) 

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

 

(c) 

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

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2020

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate    Value at
3/31/2019
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/(Loss)
    

Change in
Unrealized
Appreciation/

Depreciation

     Value at
3/31/2020
     Dividend
Income
 

WisdomTree International Quality Dividend Growth Fund

   $     —      $ 2,245,332      $     —      $     —      $ (259,126    $ 1,986,206      $ 32,163  

 

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

Bank of America N.A.

    4/3/2020       565,620       AUD       335,275       USD     $ 10,914     $  

Bank of America N.A.

    4/3/2020       8,902,805       AUD       5,449,567       USD             (578

Bank of America N.A.

    4/3/2020       612,451       CHF       624,532       USD       8,486        

Bank of America N.A.

    4/3/2020       9,820,525       CHF       10,151,148       USD             (839

Bank of America N.A.

    4/3/2020       4,248,296       DKK       614,479       USD       10,209        

Bank of America N.A.

    4/3/2020       67,915,911       DKK       9,987,750       USD             (1,091

Bank of America N.A.

    4/3/2020       2,646,943       EUR       2,859,064       USD       45,375        

Bank of America N.A.

    4/3/2020       42,351,214       EUR       46,471,225       USD             (68

Bank of America N.A.

    4/3/2020       1,311,296       GBP       1,545,315       USD       80,647        

Bank of America N.A.

    4/3/2020       20,255,807       GBP       25,117,545       USD             (1,035

Bank of America N.A.

    4/3/2020       2,547,235       HKD       328,357       USD       278        

Bank of America N.A.

    4/3/2020       41,363,964       HKD       5,337,108       USD             (473

Bank of America N.A.

    4/3/2020       81,343       ILS       22,592       USD       403        

Bank of America N.A.

    4/3/2020       1,298,823       ILS       367,209       USD             (38

Bank of America N.A.

    4/3/2020       183,948,462       JPY       1,651,885       USD       52,103        

Bank of America N.A.

    4/3/2020       2,898,493,872       JPY       26,849,740       USD       160        

Bank of America N.A.

    4/3/2020       2,759,401       NOK       248,855       USD       13,922        

Bank of America N.A.

    4/3/2020       42,471,063       NOK       4,044,887       USD             (384

Bank of America N.A.

    4/3/2020       64,129       NZD       37,168       USD       850        

Bank of America N.A.

    4/3/2020       1,018,905       NZD       604,126       USD             (74

Bank of America N.A.

    4/3/2020       2,559,352       SEK       252,014       USD       6,311        

Bank of America N.A.

    4/3/2020       40,579,714       SEK       4,096,243       USD             (376

Bank of America N.A.

    4/3/2020       98,135       SGD       67,842       USD       1,082        

Bank of America N.A.

    4/3/2020       1,569,710       SGD       1,102,705       USD             (250

Bank of America N.A.

    4/3/2020       5,336,915       USD       8,270,953       AUD       274,653        

Bank of America N.A.

    4/3/2020       134,110       USD       206,029       AUD       8,009        

Bank of America N.A.

    4/3/2020       201,165       USD       309,044       AUD       12,014        

Bank of America N.A.

    4/3/2020       9,941,305       USD       9,601,014       CHF       17,879        

Bank of America N.A.

    4/3/2020       249,813       USD       234,145       CHF       7,805        

Bank of America N.A.

    4/3/2020       374,719       USD       351,217       CHF       11,707        

Bank of America N.A.

    4/3/2020       9,781,284       USD       66,410,712       DKK       15,957        

Bank of America N.A.

    4/3/2020       245,792       USD       1,626,908       DKK       6,564        

Bank of America N.A.

    4/3/2020       368,688       USD       2,440,361       DKK       9,846        

Bank of America N.A.

    4/3/2020       45,510,580       USD       41,350,512       EUR       137,474        

Bank of America N.A.

    4/3/2020       1,715,438       USD       1,519,557       EUR       48,058        

Bank of America N.A.

    4/3/2020       1,143,626       USD       1,013,038       EUR       32,039        

Bank of America N.A.

    4/3/2020       24,598,319       USD       19,243,295       GBP       737,289        

Bank of America N.A.

    4/3/2020       927,189       USD       719,292       GBP       35,291        

Bank of America N.A.

    4/3/2020       618,126       USD       479,528       GBP       23,528        

Bank of America N.A.

    4/3/2020       5,226,780       USD       40,731,878       HKD             (28,306

Bank of America N.A.

    4/3/2020       197,014       USD       1,530,583       HKD             (457

Bank of America N.A.

    4/3/2020       131,343       USD       1,020,391       HKD             (304

Bank of America N.A.

    4/3/2020       359,618       USD       1,253,524       ILS       5,253        

Bank of America N.A.

    4/3/2020       13,555       USD       48,133       ILS             (52

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2020

 

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

Bank of America N.A.

    4/3/2020       9,037       USD       32,090       ILS     $     $ (35

Bank of America N.A.

    4/3/2020       26,294,707       USD       2,831,361,460       JPY       66,681        

Bank of America N.A.

    4/3/2020       991,131       USD       103,806,799       JPY       29,527        

Bank of America N.A.

    4/3/2020       660,754       USD       69,204,532       JPY       19,685        

Bank of America N.A.

    4/3/2020       3,961,272       USD       37,513,563       NOK       388,870        

Bank of America N.A.

    4/3/2020       149,313       USD       1,437,787       NOK       12,393        

Bank of America N.A.

    4/3/2020       99,542       USD       958,525       NOK       8,262        

Bank of America N.A.

    4/3/2020       591,638       USD       953,670       NZD       26,260        

Bank of America N.A.

    4/3/2020       14,867       USD       23,589       NZD       883        

Bank of America N.A.

    4/3/2020       22,301       USD       35,384       NZD       1,324        

Bank of America N.A.

    4/3/2020       4,011,565       USD       38,832,992       SEK       92,001        

Bank of America N.A.

    4/3/2020       151,209       USD       1,435,515       SEK       6,317        

Bank of America N.A.

    4/3/2020       100,806       USD       957,010       SEK       4,211        

Bank of America N.A.

    4/3/2020       1,079,910       USD       1,506,863       SGD       21,594        

Bank of America N.A.

    4/3/2020       40,705       USD       56,641       SGD       924        

Bank of America N.A.

    4/3/2020       27,137       USD       37,761       SGD       616        

Bank of America N.A.

    5/5/2020       4,363,582       USD       7,128,894       AUD             (517

Bank of America N.A.

    5/5/2020       9,814,946       USD       66,695,218       DKK             (3,620

Bank of America N.A.

    5/5/2020       21,029,713       USD       16,949,372       GBP             (1,241

Bank of America N.A.

    5/5/2020       308,824       USD       1,091,709       ILS             (141

Bank of America N.A.

    5/5/2020       574,101       USD       968,756       NZD             (66

Bank of America N.A.

    5/6/2020       9,555,843       USD       9,232,378       CHF             (3,504

Bank of America N.A.

    5/6/2020       40,126,689       USD       36,525,561       EUR             (3,427

Bank of America N.A.

    5/6/2020       4,725,458       USD       36,636,230       HKD             (621

Bank of America N.A.

    5/6/2020       2,782,136       USD       29,214,370       NOK             (464

Bank of America N.A.

    5/6/2020       3,389,090       USD       33,556,156       SEK             (395

Bank of America N.A.

    5/6/2020       802,724       USD       1,142,476       SGD             (91

Bank of America N.A.

    5/8/2020       25,949,882       USD       2,797,122,210       JPY             (2,698

Citibank N.A.

    4/1/2020       1,967,267       HKD       900,063       ILS             (627

Citibank N.A.

    4/3/2020       8,903,226       AUD       5,449,567       USD             (320

Citibank N.A.

    4/3/2020       9,820,982       CHF       10,151,148       USD             (367

Citibank N.A.

    4/3/2020       67,922,273       DKK       9,987,750       USD             (156

Citibank N.A.

    4/3/2020       42,349,130       EUR       46,471,225       USD             (2,355

Citibank N.A.

    4/3/2020       20,255,774       GBP       25,117,545       USD             (1,075

Citibank N.A.

    4/3/2020       41,366,387       HKD       5,337,108       USD             (160

Citibank N.A.

    4/3/2020       1,298,841       ILS       367,209       USD             (33

Citibank N.A.

    4/3/2020       2,898,332,773       JPY       26,849,740       USD             (1,332

Citibank N.A.

    4/3/2020       42,473,223       NOK       4,044,887       USD             (178

Citibank N.A.

    4/3/2020       1,018,998       NZD       604,126       USD             (19

Citibank N.A.

    4/3/2020       40,581,893       SEK       4,096,243       USD             (156

Citibank N.A.

    4/3/2020       1,569,982       SGD       1,102,705       USD             (59

Citibank N.A.

    4/3/2020       5,336,915       USD       8,271,466       AUD       274,340        

Citibank N.A.

    4/3/2020       268,220       USD       404,906       AUD       20,396        

Citibank N.A.

    4/3/2020       67,055       USD       103,509       AUD       3,702        

Citibank N.A.

    4/3/2020       9,941,305       USD       9,600,964       CHF       17,930        

Citibank N.A.

    4/3/2020       499,626       USD       476,610       CHF       7,011        

Citibank N.A.

    4/3/2020       124,906       USD       116,435       CHF       4,561        

Citibank N.A.

    4/3/2020       9,781,284       USD       66,405,949       DKK       16,657        

Citibank N.A.

    4/3/2020       491,584       USD       3,281,323       DKK       9,084        

Citibank N.A.

    4/3/2020       122,896       USD       808,594       DKK       3,997        

Citibank N.A.

    4/3/2020       45,510,580       USD       41,353,104       EUR       134,629        

Citibank N.A.

    4/3/2020       2,287,251       USD       2,043,106       EUR       45,391        

Citibank N.A.

    4/3/2020       571,813       USD       503,509       EUR       19,323        

Citibank N.A.

    4/3/2020       24,598,319       USD       19,242,076       GBP       738,801        

Citibank N.A.

    4/3/2020       1,236,252       USD       964,000       GBP       40,925        

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2020

 

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

Citibank N.A.

    4/3/2020       309,063       USD       238,792       GBP     $ 12,970     $  

Citibank N.A.

    4/3/2020       5,226,780       USD       40,730,655       HKD             (28,148

Citibank N.A.

    4/3/2020       262,685       USD       2,040,877       HKD             (622

Citibank N.A.

    4/3/2020       65,671       USD       510,240       HKD             (158

Citibank N.A.

    4/3/2020       359,618       USD       1,253,647       ILS       5,218        

Citibank N.A.

    4/3/2020       18,074       USD       62,138       ILS       508        

Citibank N.A.

    4/3/2020       4,518       USD       15,974       ILS       2        

Citibank N.A.

    4/3/2020       26,294,707       USD       2,831,424,567       JPY       66,097        

Citibank N.A.

    4/3/2020       1,321,508       USD       141,941,588       JPY       6,647        

Citibank N.A.

    4/3/2020       330,377       USD       34,237,100       JPY       13,225        

Citibank N.A.

    4/3/2020       3,961,272       USD       37,516,260       NOK       388,613        

Citibank N.A.

    4/3/2020       199,084       USD       1,835,403       NOK       24,299        

Citibank N.A.

    4/3/2020       49,771       USD       478,035       NOK       4,248        

Citibank N.A.

    4/3/2020       591,638       USD       953,669       NZD       26,261        

Citibank N.A.

    4/3/2020       29,734       USD       47,082       NZD       1,821        

Citibank N.A.

    4/3/2020       7,434       USD       11,871       NZD       396        

Citibank N.A.

    4/3/2020       4,011,565       USD       38,836,258       SEK       91,672        

Citibank N.A.

    4/3/2020       201,612       USD       1,896,310       SEK       10,210        

Citibank N.A.

    4/3/2020       50,403       USD       478,632       SEK       2,093        

Citibank N.A.

    4/3/2020       1,079,910       USD       1,506,953       SGD       21,531        

Citibank N.A.

    4/3/2020       54,274       USD       75,149       SGD       1,495        

Citibank N.A.

    4/3/2020       13,568       USD       18,859       SGD       323        

Citibank N.A.

    5/5/2020       4,363,582       USD       7,128,650       AUD             (367

Citibank N.A.

    5/5/2020       9,814,946       USD       66,681,732       DKK             (1,634

Citibank N.A.

    5/5/2020       21,029,713       USD       16,948,798       GBP             (529

Citibank N.A.

    5/5/2020       308,824       USD       1,091,496       ILS             (80

Citibank N.A.

    5/5/2020       574,101       USD       968,809       NZD             (98

Citibank N.A.

    5/6/2020       9,555,843       USD       9,230,801       CHF             (1,871

Citibank N.A.

    5/6/2020       40,126,689       USD       36,525,095       EUR             (2,916

Citibank N.A.

    5/6/2020       4,725,458       USD       36,632,162       HKD             (96

Citibank N.A.

    5/6/2020       2,782,136       USD       29,211,877       NOK             (227

Citibank N.A.

    5/6/2020       3,389,090       USD       33,558,264       SEK             (608

Citibank N.A.

    5/6/2020       802,724       USD       1,142,448       SGD             (71

Citibank N.A.

    5/8/2020       25,949,882       USD       2,797,070,311       JPY             (2,216

Credit Suisse International

    4/3/2020       6,783,015       AUD       4,152,053       USD             (488

Credit Suisse International

    4/3/2020       7,482,275       CHF       7,734,209       USD             (671

Credit Suisse International

    4/3/2020       51,748,573       DKK       7,609,715       USD             (374

Credit Suisse International

    4/3/2020       32,266,273       EUR       35,406,652       USD             (1,504

Credit Suisse International

    4/3/2020       15,432,948       GBP       19,137,180       USD             (850

Credit Suisse International

    4/3/2020       31,516,442       HKD       4,066,369       USD             (227

Credit Suisse International

    4/3/2020       989,609       ILS       279,782       USD             (24

Credit Suisse International

    4/3/2020       2,208,231,388       JPY       20,456,948       USD             (1,224

Credit Suisse International

    4/3/2020       32,360,765       NOK       3,081,820       USD             (117

Credit Suisse International

    4/3/2020       776,302       NZD       460,289       USD             (63

Credit Suisse International

    4/3/2020       30,919,394       SEK       3,120,948       USD             (134

Credit Suisse International

    4/3/2020       1,196,033       SGD       840,159       USD             (149

Credit Suisse International

    4/3/2020       5,336,915       USD       8,270,991       AUD       274,630        

Credit Suisse International

    4/3/2020       9,941,305       USD       9,601,402       CHF       17,478        

Credit Suisse International

    4/3/2020       9,781,284       USD       66,409,245       DKK       16,172        

Credit Suisse International

    4/3/2020       45,510,580       USD       41,353,442       EUR       134,258        

Credit Suisse International

    4/3/2020       24,598,319       USD       19,242,873       GBP       737,812        

Credit Suisse International

    4/3/2020       5,226,780       USD       40,732,453       HKD             (28,380

Credit Suisse International

    4/3/2020       359,618       USD       1,253,781       ILS       5,180        

Credit Suisse International

    4/3/2020       26,294,707       USD       2,831,474,527       JPY       65,634        

Credit Suisse International

    4/3/2020       3,961,272       USD       37,516,466       NOK       388,593        

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2020

 

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

Credit Suisse International

    4/3/2020       591,638       USD       953,618       NZD     $ 26,291     $  

Credit Suisse International

    4/3/2020       4,011,565       USD       38,835,191       SEK       91,780        

Credit Suisse International

    4/3/2020       1,079,910       USD       1,506,906       SGD       21,564        

Credit Suisse International

    5/5/2020       3,324,634       USD       5,431,210       AUD             (193

Credit Suisse International

    5/5/2020       7,478,058       USD       50,808,394       DKK             (1,722

Credit Suisse International

    5/5/2020       16,022,641       USD       12,913,560       GBP             (635

Credit Suisse International

    5/5/2020       235,297       USD       831,674       ILS             (75

Credit Suisse International

    5/5/2020       437,414       USD       738,046       NZD             (15

Credit Suisse International

    5/6/2020       7,280,644       USD       7,031,981       CHF             (378

Credit Suisse International

    5/6/2020       30,572,717       USD       27,828,114       EUR             (1,637

Credit Suisse International

    5/6/2020       3,600,353       USD       27,909,980       HKD             (38

Credit Suisse International

    5/6/2020       2,119,723       USD       22,256,534       NOK             (159

Credit Suisse International

    5/6/2020       2,582,167       USD       25,564,620       SEK             (98

Credit Suisse International

    5/6/2020       611,602       USD       870,480       SGD             (82

Credit Suisse International

    5/8/2020       19,771,340       USD       2,131,000,499       JPY             (753

Goldman Sachs

    4/1/2020       816,868       NOK       779,365       SEK             (873

Goldman Sachs

    4/3/2020       8,903,299       AUD       5,449,567       USD             (276

Goldman Sachs

    4/3/2020       9,820,880       CHF       10,151,148       USD             (472

Goldman Sachs

    4/3/2020       67,707,726       DKK       9,987,750       USD             (31,704

Goldman Sachs

    4/3/2020       42,349,323       EUR       46,471,225       USD             (2,143

Goldman Sachs

    4/3/2020       20,255,742       GBP       25,117,545       USD             (1,116

Goldman Sachs

    4/3/2020       41,363,713       HKD       5,337,108       USD             (505

Goldman Sachs

    4/3/2020       1,301,070       ILS       367,209       USD       597        

Goldman Sachs

    4/3/2020       2,898,335,458       JPY       26,849,740       USD             (1,308

Goldman Sachs

    4/3/2020       42,473,033       NOK       4,044,887       USD             (196

Goldman Sachs

    4/3/2020       1,013,298       NZD       604,126       USD             (3,398

Goldman Sachs

    4/3/2020       40,581,295       SEK       4,096,243       USD             (216

Goldman Sachs

    4/3/2020       1,569,637       SGD       1,102,705       USD             (302

Goldman Sachs

    4/3/2020       5,336,915       USD       8,260,801       AUD       280,867        

Goldman Sachs

    4/3/2020       201,165       USD       303,674       AUD       15,300        

Goldman Sachs

    4/3/2020       9,941,305       USD       9,604,921       CHF       13,841        

Goldman Sachs

    4/3/2020       374,719       USD       357,485       CHF       5,229        

Goldman Sachs

    4/3/2020       9,781,284       USD       66,405,235       DKK       16,762        

Goldman Sachs

    4/3/2020       368,688       USD       2,469,273       DKK       5,595        

Goldman Sachs

    4/3/2020       45,510,580       USD       41,366,410       EUR       120,029        

Goldman Sachs

    4/3/2020       1,715,438       USD       1,537,678       EUR       28,174        

Goldman Sachs

    4/3/2020       24,598,319       USD       19,242,030       GBP       738,857        

Goldman Sachs

    4/3/2020       927,189       USD       722,948       GBP       30,758        

Goldman Sachs

    4/3/2020       5,226,780       USD       40,741,950       HKD             (29,605

Goldman Sachs

    4/3/2020       197,014       USD       1,531,135       HKD             (528

Goldman Sachs

    4/3/2020       359,618       USD       1,253,578       ILS       5,238        

Goldman Sachs

    4/3/2020       13,555       USD       46,750       ILS       339        

Goldman Sachs

    4/3/2020       26,294,707       USD       2,833,212,607       JPY       49,533        

Goldman Sachs

    4/3/2020       991,131       USD       106,202,560       JPY       7,335        

Goldman Sachs

    4/3/2020       3,961,272       USD       37,496,090       NOK       390,534        

Goldman Sachs

    4/3/2020       149,313       USD       1,382,406       NOK       17,667        

Goldman Sachs

    4/3/2020       591,638       USD       952,913       NZD       26,709        

Goldman Sachs

    4/3/2020       22,301       USD       35,458       NZD       1,280        

Goldman Sachs

    4/3/2020       4,011,565       USD       38,822,911       SEK       93,019        

Goldman Sachs

    4/3/2020       151,209       USD       1,433,246       SEK       6,546        

Goldman Sachs

    4/3/2020       1,079,910       USD       1,506,794       SGD       21,643        

Goldman Sachs

    4/3/2020       40,705       USD       56,315       SGD       1,154        

Goldman Sachs

    5/5/2020       4,363,582       USD       7,128,219       AUD             (103

Goldman Sachs

    5/5/2020       9,814,946       USD       66,468,483       DKK       29,759        

Goldman Sachs

    5/5/2020       21,029,713       USD       16,948,061       GBP       386        

Goldman Sachs

    5/5/2020       308,824       USD       1,093,352       ILS             (606

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2020

 

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

Goldman Sachs

    5/5/2020       574,101       USD       963,234       NZD     $ 3,206     $  

Goldman Sachs

    5/6/2020       9,555,843       USD       9,230,056       CHF             (1,100

Goldman Sachs

    5/6/2020       40,126,689       USD       36,521,971       EUR       518        

Goldman Sachs

    5/6/2020       4,725,458       USD       36,663,321       HKD             (4,116

Goldman Sachs

    5/6/2020       2,782,136       USD       29,209,437       NOK       6        

Goldman Sachs

    5/6/2020       3,389,090       USD       33,550,120       SEK       215        

Goldman Sachs

    5/6/2020       802,724       USD       1,142,249       SGD       69        

Goldman Sachs

    5/8/2020       25,949,882       USD       2,796,883,471       JPY             (482

JP Morgan Chase Bank N.A.

    4/3/2020       4,066,221       USD       6,302,118       AUD       208,991        

JP Morgan Chase Bank N.A.

    4/3/2020       7,574,330       USD       7,315,061       CHF       13,622        

JP Morgan Chase Bank N.A.

    4/3/2020       7,452,410       USD       50,595,947       DKK       12,556        

JP Morgan Chase Bank N.A.

    4/3/2020       34,674,730       USD       31,506,356       EUR       103,423        

JP Morgan Chase Bank N.A.

    4/3/2020       18,741,580       USD       14,660,529       GBP       563,024        

JP Morgan Chase Bank N.A.

    4/3/2020       3,982,311       USD       31,032,772       HKD             (21,430

JP Morgan Chase Bank N.A.

    4/3/2020       273,999       USD       955,221       ILS       3,963        

JP Morgan Chase Bank N.A.

    4/3/2020       20,034,064       USD       2,157,229,946       JPY       50,786        

JP Morgan Chase Bank N.A.

    4/3/2020       3,018,112       USD       28,583,018       NOK       296,162        

JP Morgan Chase Bank N.A.

    4/3/2020       450,772       USD       726,550       NZD       20,041        

JP Morgan Chase Bank N.A.

    4/3/2020       3,056,435       USD       29,588,171       SEK       69,987        

JP Morgan Chase Bank N.A.

    4/3/2020       822,792       USD       1,148,139       SGD       16,419        

Morgan Stanley & Co. International

    4/1/2020       239,475       CHF       405,526       AUD             (696

Morgan Stanley & Co. International

    4/1/2020       823,389       GBP       3,632,580       ILS             (5,931

Morgan Stanley & Co. International

    4/1/2020       496,895       NZD       2,933,767       SEK             (1,526

State Street Bank and Trust

    4/1/2020       1,285,035       DKK       172,166       EUR       44        

State Street Bank and Trust

    4/1/2020       19,805,293       JPY       167,180       EUR       20        

UBS AG

    4/3/2020       8,902,936       AUD       5,449,567       USD             (498

UBS AG

    4/3/2020       9,820,657       CHF       10,151,148       USD             (703

UBS AG

    4/3/2020       67,915,262       DKK       9,987,750       USD             (1,187

UBS AG

    4/3/2020       42,349,053       EUR       46,471,225       USD             (2,440

UBS AG

    4/3/2020       20,254,958       GBP       25,117,545       USD             (2,088

UBS AG

    4/3/2020       41,363,815       HKD       5,337,108       USD             (492

UBS AG

    4/3/2020       1,297,648       ILS       367,209       USD             (370

UBS AG

    4/3/2020       2,898,225,374       JPY       26,849,740       USD             (2,327

UBS AG

    4/3/2020       42,453,310       NOK       4,044,887       USD             (2,074

UBS AG

    4/3/2020       1,018,939       NZD       604,126       USD             (54

UBS AG

    4/3/2020       40,562,784       SEK       4,096,243       USD             (2,085

UBS AG

    4/3/2020       1,569,906       SGD       1,102,705       USD             (113

UBS AG

    5/5/2020       4,363,582       USD       7,127,951       AUD       61        

UBS AG

    5/5/2020       9,814,946       USD       66,687,709       DKK             (2,514

UBS AG

    5/5/2020       21,029,713       USD       16,947,979       GBP       488        

UBS AG

    5/5/2020       308,824       USD       1,091,766       ILS             (157

UBS AG

    5/5/2020       574,101       USD       968,576       NZD       40        

UBS AG

    5/6/2020       9,555,843       USD       9,229,253       CHF             (269

UBS AG

    5/6/2020       40,126,689       USD       36,520,707       EUR       1,905        

UBS AG

    5/6/2020       4,725,458       USD       36,631,183       HKD       30        

UBS AG

    5/6/2020       2,782,136       USD       29,199,210       NOK       980        

UBS AG

    5/6/2020       3,389,090       USD       33,539,946       SEK       1,242        

UBS AG

    5/6/2020       802,724       USD       1,142,490       SGD             (100

UBS AG

    5/8/2020       25,949,882       USD       2,796,517,578       JPY       2,912        
                                            $ 9,365,283     $ (263,716

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Table of Contents

Schedule of Investments

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.8%

 

Japan – 98.8%

 

Air Freight & Logistics – 0.0%

 

Kintetsu World Express, Inc.

     38,100      $ 560,092  
Airlines – 0.3%

 

Japan Airlines Co., Ltd.(a)

     276,500        5,096,892  
Auto Components – 5.4%

 

Aisan Industry Co., Ltd.

     40,300        188,518  

Aisin Seiki Co., Ltd.

     300,108        7,405,750  

Bridgestone Corp.

     725,685        22,337,560  

Daido Metal Co., Ltd.

     39,900        198,844  

Daikyonishikawa Corp.(a)

     64,800        296,524  

Denso Corp.

     623,279        20,155,315  

Eagle Industry Co., Ltd.

     48,300        303,343  

Exedy Corp.

     40,200        595,431  

FCC Co., Ltd.

     34,900        510,464  

Futaba Industrial Co., Ltd.

     40,300        170,600  

G-Tekt Corp.

     39,900        408,406  

H-One Co., Ltd.

     40,300        185,905  

JTEKT Corp.

     312,178        2,125,430  

Kasai Kogyo Co., Ltd.(a)

     35,500        173,628  

Keihin Corp.

     53,000        1,239,637  

Koito Manufacturing Co., Ltd.

     66,701        2,258,276  

Musashi Seimitsu Industry Co., Ltd.

     40,300        311,335  

NGK Spark Plug Co., Ltd.

     183,864        2,592,200  

NHK Spring Co., Ltd.

     154,500        1,013,255  

Nifco, Inc.

     52,490        943,269  

Nippon Piston Ring Co., Ltd.

     29,400        307,739  

Nissin Kogyo Co., Ltd.

     45,400        926,882  

NOK Corp.

     128,700        1,422,251  

Pacific Industrial Co., Ltd.

     40,200        350,407  

Piolax, Inc.

     39,900        561,420  

Press Kogyo Co., Ltd.

     52,500        117,688  

Sanoh Industrial Co., Ltd.(a)

     50,800        321,867  

Shoei Co., Ltd.(a)

     33,400        702,002  

Showa Corp.

     45,600        951,241  

Stanley Electric Co., Ltd.

     84,807        1,674,851  

Sumitomo Electric Industries Ltd.

     704,583        7,427,312  

Sumitomo Riko Co., Ltd.

     64,700        350,604  

Sumitomo Rubber Industries Ltd.

     279,491        2,638,149  

T. RAD Co., Ltd.

     20,500        235,848  

Tachi-S Co., Ltd.

     40,300        365,838  

Taiho Kogyo Co., Ltd.

     46,600        232,234  

Tokai Rika Co., Ltd.

     96,414        1,202,105  

Topre Corp.

     40,300        447,964  

Toyo Tire Corp.(a)

     99,300        1,140,586  

Toyoda Gosei Co., Ltd.

     94,600        1,624,644  

Toyota Boshoku Corp.

     180,636        2,153,476  

TPR Co., Ltd.

     40,294        429,982  

TS Tech Co., Ltd.

     40,232        953,300  

Unipres Corp.

     40,300        359,865  

Yokohama Rubber Co., Ltd. (The)

     125,300        1,558,778  

Yorozu Corp.

     40,300        394,209  
     

 

 

 
Total Auto Components               92,264,932  
Automobiles – 10.6%      

Honda Motor Co., Ltd.

     1,851,547      $ 41,677,173  

Isuzu Motors Ltd.

     642,000        4,253,834  

Mazda Motor Corp.(a)

     518,115        2,745,234  

Mitsubishi Motors Corp.(a)

     1,487,301        4,215,776  

Subaru Corp.

     1,093,567        21,004,226  

Suzuki Motor Corp.

     179,836        4,305,369  

Toyota Motor Corp.

     1,612,370        97,096,173  

Yamaha Motor Co., Ltd.

     416,400        5,041,312  
     

 

 

 
Total Automobiles               180,339,097  
Banks – 7.7%      

Mitsubishi UFJ Financial Group, Inc.

     15,125,022        56,462,266  

Mizuho Financial Group, Inc.

     31,589,744        36,167,777  

Sumitomo Mitsui Financial Group, Inc.

     1,596,500        38,790,417  
     

 

 

 
Total Banks               131,420,460  
Beverages – 1.3%      

Asahi Group Holdings Ltd.

     240,600        7,822,760  

Kirin Holdings Co., Ltd.

     501,945        9,938,469  

Suntory Beverage & Food Ltd.

     124,300        4,703,492  

Takara Holdings, Inc.(a)

     65,200        489,204  
     

 

 

 
Total Beverages               22,953,925  
Building Products – 1.6%      

AGC, Inc.

     175,247        4,316,445  

Aica Kogyo Co., Ltd.

     42,500        1,218,448  

Central Glass Co., Ltd.

     39,900        695,584  

Daikin Industries Ltd.

     84,749        10,338,978  

LIXIL Group Corp.

     373,500        4,653,397  

Nippon Sheet Glass Co., Ltd.(a)

     77,300        238,441  

Nitto Boseki Co., Ltd.(a)

     19,500        862,512  

Noritz Corp.

     40,300        439,378  

Okabe Co., Ltd.

     16,000        107,156  

Sanwa Holdings Corp.

     155,731        1,217,516  

TOTO Ltd.

     90,800        3,023,723  
     

 

 

 
Total Building Products               27,111,578  
Capital Markets – 0.6%      

GCA Corp.

     39,800        207,562  

Nomura Holdings, Inc.(a)

     1,549,145        6,569,391  

SBI Holdings, Inc.

     235,100        3,436,504  

Sparx Group Co., Ltd.

     163,200        250,949  
     

 

 

 
Total Capital Markets               10,464,406  
Chemicals – 7.7%      

ADEKA Corp.

     54,200        678,284  

Arakawa Chemical Industries Ltd.

     40,300        449,084  

Asahi Kasei Corp.

     1,031,422        7,307,040  

Chugoku Marine Paints Ltd.

     40,000        325,691  

Daicel Corp.

     269,042        1,966,321  

Dainichiseika Color & Chemicals Manufacturing Co., Ltd.

     37,800        825,994  

Denka Co., Ltd.

     75,715        1,596,990  

DIC Corp.

     96,753        2,144,689  

Fujimi, Inc.(a)

     40,300        1,003,440  

Fujimori Kogyo Co., Ltd.

     28,800        780,325  

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

Fuso Chemical Co., Ltd.

     15,300      $ 430,138  

Hitachi Chemical Co., Ltd.

     104,615        4,447,991  

JCU Corp.

     26,600        555,137  

JSP Corp.(a)

     40,300        521,879  

JSR Corp.

     198,600        3,666,433  

Kaneka Corp.

     40,400        969,256  

Kansai Paint Co., Ltd.

     91,200        1,738,591  

KH Neochem Co., Ltd.

     20,000        281,784  

Kumiai Chemical Industry Co., Ltd.(a)

     39,300        304,702  

Kuraray Co., Ltd.

     278,037        2,812,435  

Kureha Corp.

     16,700        681,427  

Lintec Corp.

     62,647        1,319,617  

Mitsubishi Chemical Holdings Corp.

     2,057,063        12,248,438  

Mitsubishi Gas Chemical Co., Inc.

     279,182        3,041,249  

Mitsui Chemicals, Inc.

     195,915        3,722,122  

Moriroku Holdings Co., Ltd.(a)

     40,400        560,222  

Nihon Nohyaku Co., Ltd.(a)

     39,900        154,492  

Nihon Parkerizing Co., Ltd.

     40,300        418,100  

Nippon Kayaku Co., Ltd.

     104,900        966,843  

Nippon Paint Holdings Co., Ltd.

     81,700        4,283,470  

Nippon Shokubai Co., Ltd.(a)

     36,400        1,669,029  

Nippon Soda Co., Ltd.

     40,400        1,009,298  

Nissan Chemical Corp.

     62,153        2,268,379  

Nitto Denko Corp.

     151,174        6,756,654  

NOF Corp.

     40,300        1,280,432  

Okamoto Industries, Inc.

     27,700        995,563  

Osaka Soda Co., Ltd.(a)

     37,800        901,275  

Riken Technos Corp.

     118,900        424,033  

Sakata INX Corp.

     40,300        339,333  

Sanyo Chemical Industries Ltd.

     24,600        901,237  

Shikoku Chemicals Corp.

     40,300        370,691  

Shin-Etsu Chemical Co., Ltd.

     230,679        22,927,939  

Showa Denko K.K.

     142,031        2,943,109  

Sumitomo Bakelite Co., Ltd.

     30,500        648,395  

Sumitomo Chemical Co., Ltd.

     1,865,385        5,546,650  

Sumitomo Seika Chemicals Co., Ltd.

     16,800        413,639  

T Hasegawa Co., Ltd.

     23,400        441,534  

Taiyo Holdings Co., Ltd.

     40,326        1,520,326  

Taiyo Nippon Sanso Corp.

     118,953        1,764,103  

Takasago International Corp.

     26,200        489,513  

Tayca Corp.(a)

     21,000        279,533  

Teijin Ltd.

     182,200        3,088,565  

Tokai Carbon Co., Ltd.(a)

     119,400        986,567  

Tokuyama Corp.

     30,500        591,043  

Tokyo Ohka Kogyo Co., Ltd.

     34,400        1,320,810  

Toray Industries, Inc.

     816,418        3,546,849  

Tosoh Corp.

     308,707        3,517,295  

Toyo Ink SC Holdings Co., Ltd.

     66,600        1,261,609  

Toyobo Co., Ltd.

     59,951        634,746  

Ube Industries Ltd.

     88,500        1,358,385  

Zeon Corp.

     86,000        648,455  
     

 

 

 
Total Chemicals               131,047,173  
Commercial Services & Supplies – 0.2%      

Mitsubishi Pencil Co., Ltd.

     40,300      530,465  

Park24 Co., Ltd.

     118,900        1,752,303  

Pilot Corp.

     26,800        892,465  

Sato Holdings Corp.

     35,700        701,731  
     

 

 

 
Total Commercial Services & Supplies               3,876,964  
Construction & Engineering – 0.7%      

JGC Holdings Corp.(a)

     119,900        964,042  

Kajima Corp.

     399,400        4,102,956  

Obayashi Corp.

     519,900        4,459,519  

Penta-Ocean Construction Co., Ltd.

     265,300        1,398,321  

Taikisha Ltd.

     40,200        1,165,541  
     

 

 

 
Total Construction & Engineering               12,090,379  
Construction Materials – 0.1%      

Krosaki Harima Corp.

     21,400        809,773  

Taiheiyo Cement Corp.

     70,600        1,209,856  
     

 

 

 
Total Construction Materials               2,019,629  
Consumer Finance – 0.2%      

AEON Financial Service Co., Ltd.

     225,600        2,419,942  

J Trust Co., Ltd.(a)

     40,300        83,993  
     

 

 

 
Total Consumer Finance               2,503,935  
Containers & Packaging – 0.0%      

Fuji Seal International, Inc.

     15,582        275,974  
Electrical Equipment – 2.0%

 

Daihen Corp.

     39,700        1,068,669  

Denyo Co., Ltd.

     39,300        700,778  

Fuji Electric Co., Ltd.

     75,073        1,703,059  

Fujikura Ltd.(a)

     198,777        576,325  

Furukawa Electric Co., Ltd.

     48,381        880,632  

GS Yuasa Corp.

     39,284        529,100  

Idec Corp.

     23,400        296,957  

Mabuchi Motor Co., Ltd.

     58,000        1,729,980  

Mitsubishi Electric Corp.

     1,553,714        19,213,637  

Nidec Corp.

     110,816        5,755,596  

Nippon Carbon Co., Ltd.

     5,000        148,905  

Nissin Electric Co., Ltd.

     63,600        545,538  

Sanyo Denki Co., Ltd.

     11,900        480,057  

SEC Carbon Ltd.(a)

     3,500        201,334  

Sinfonia Technology Co., Ltd.

     28,100        249,882  

Tatsuta Electric Wire and Cable Co., Ltd.

     39,300        167,459  

Toyo Tanso Co., Ltd.

     14,700        190,499  
     

 

 

 
Total Electrical Equipment               34,438,407  
Electronic Equipment, Instruments & Components – 4.9%

 

Ai Holdings Corp.

     40,200        496,379  

Alps Alpine Co., Ltd.

     151,400        1,471,156  

Amano Corp.

     40,433        894,017  

Anritsu Corp.(a)

     40,300        748,847  

Canon Electronics, Inc.

     40,300        595,419  

Citizen Watch Co., Ltd.(a)

     279,085        992,716  

Dexerials Corp.

     48,000        310,352  

ESPEC Corp.

     39,700        603,839  

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

Hakuto Co., Ltd.

     40,319      $ 361,155  

Hamamatsu Photonics K.K.

     40,200        1,645,908  

Hirose Electric Co., Ltd.

     27,360        2,838,516  

Hitachi High-Tech Corp.

     64,919        4,798,792  

Hitachi Ltd.

     548,705        15,974,988  

Horiba Ltd.

     32,700        1,629,623  

Ibiden Co., Ltd.

     69,901        1,535,225  

Iriso Electronics Co., Ltd.(a)

     20,000        590,987  

Japan Aviation Electronics Industry Ltd.

     44,200        532,668  

Kaga Electronics Co., Ltd.

     40,300        635,363  

Keyence Corp.

     21,040        6,788,228  

Koa Corp.

     34,400        284,237  

Kyosan Electric Manufacturing Co., Ltd.

     40,300        173,960  

Macnica Fuji Electronics Holdings, Inc.

     42,300        525,444  

Marubun Corp.

     40,300        177,693  

Meiko Electronics Co., Ltd.(a)

     9,000        111,546  

Murata Manufacturing Co., Ltd.

     346,768        17,576,902  

Nippon Electric Glass Co., Ltd.

     93,860        1,258,944  

Nissha Co., Ltd.

     40,300        268,032  

Ohara, Inc.(a)

     24,000        193,859  

Oki Electric Industry Co., Ltd.

     76,530        718,831  

Omron Corp.

     83,600        4,359,854  

Optex Group Co., Ltd.

     32,100        297,346  

Osaki Electric Co., Ltd.

     40,300        199,344  

Restar Holdings Corp.(a)

     40,400        566,584  

Riken Keiki Co., Ltd.

     38,300        724,456  

Ryoden Corp.

     40,200        482,973  

Ryosan Co., Ltd.

     39,845        881,754  

Sanshin Electronics Co., Ltd.

     39,454        509,827  

Satori Electric Co., Ltd.(a)

     40,300        331,120  

Shimadzu Corp.

     69,700        1,836,844  

Siix Corp.(a)

     24,200        194,577  

Sumida Corp.(a)

     40,300        247,127  

Taiyo Yuden Co., Ltd.(a)

     40,300        1,068,022  

TDK Corp.

     67,568        5,244,962  

Topcon Corp.

     40,100        297,904  

V Technology Co., Ltd.

     9,600        278,338  

Yokogawa Electric Corp.

     110,338        1,331,762  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     83,586,420  
Energy Equipment & Services – 0.0%      

Modec, Inc.

     27,800        336,572  
Entertainment – 2.3%

 

Capcom Co., Ltd.

     55,500        1,742,810  

GungHo Online Entertainment, Inc.

     25,949        363,437  

Koei Tecmo Holdings Co., Ltd.

     82,940        2,139,668  

Konami Holdings Corp.

     87,700        2,693,025  

Nintendo Co., Ltd.

     77,200        29,755,843  

Square Enix Holdings Co., Ltd.

     40,300        1,801,190  

Toei Animation Co., Ltd.(a)

     21,700        1,015,099  
     

 

 

 
Total Entertainment               39,511,072  
Food & Staples Retailing – 1.1%      

Ministop Co., Ltd.(a)

     40,300      543,530  

Seven & I Holdings Co., Ltd.

     569,924        18,878,683  
     

 

 

 
Total Food & Staples Retailing               19,422,213  
Food Products – 1.1%      

Ajinomoto Co., Inc.

     234,813        4,373,040  

Ariake Japan Co., Ltd.

     12,300        777,046  

Fuji Oil Holdings, Inc.

     39,000        942,170  

Kagome Co., Ltd.

     39,900        1,036,724  

Kikkoman Corp.(a)

     42,500        1,812,908  

Nippon Suisan Kaisha Ltd.

     89,000        394,072  

Nisshin Oillio Group Ltd. (The)

     39,381        1,331,487  

Nissin Foods Holdings Co., Ltd.

     40,600        3,384,744  

Sakata Seed Corp.

     28,139        854,948  

Toyo Suisan Kaisha Ltd.

     40,000        1,934,139  

Yakult Honsha Co., Ltd.

     29,987        1,774,970  
     

 

 

 
Total Food Products               18,616,248  
Health Care Equipment & Supplies – 1.5%      

Asahi Intecc Co., Ltd.

     27,200        673,229  

Hoya Corp.

     109,257        9,310,957  

Jeol Ltd.

     10,200        249,154  

Nakanishi, Inc.

     40,300        535,691  

Nihon Kohden Corp.

     26,700        1,004,141  

Nipro Corp.

     107,600        1,266,820  

Olympus Corp.

     210,300        3,042,829  

Sysmex Corp.

     44,860        3,260,354  

Terumo Corp.

     163,412        5,630,982  
     

 

 

 
Total Health Care Equipment & Supplies               24,974,157  
Health Care Technology – 0.1%      

M3, Inc.(a)

     52,500        1,553,772  
Hotels, Restaurants & Leisure – 0.0%

 

Aeon Fantasy Co., Ltd.(a)

     13,800        186,122  

Saizeriya Co., Ltd.

     4,800        91,105  
     

 

 

 
Total Hotels, Restaurants & Leisure               277,227  
Household Durables – 2.8%      

Casio Computer Co., Ltd.

     222,957        3,133,025  

Fujitsu General Ltd.

     40,300        729,062  

JVCKenwood Corp.

     95,400        172,322  

Nikon Corp.

     414,300        3,830,035  

Panasonic Corp.

     2,183,270        16,684,709  

Rinnai Corp.

     23,600        1,672,363  

Sekisui Chemical Co., Ltd.

     324,200        4,303,447  

Sharp Corp.(a)

     242,700        2,551,660  

Sony Corp.

     204,300        12,151,455  

Sumitomo Forestry Co., Ltd.

     142,900        1,833,324  

Tamron Co., Ltd.

     37,600        631,456  

Toa Corp.

     36,200        269,936  

Zojirushi Corp.(a)

     40,400        554,235  
     

 

 

 
Total Household Durables               48,517,029  
Household Products – 0.4%      

Lion Corp.

     70,400        1,508,362  

Pigeon Corp.

     49,100        1,885,225  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

Unicharm Corp.

     108,000      $ 4,052,689  
     

 

 

 
Total Household Products               7,446,276  
Independent Power & Renewable Electricity Producers – 0.2%

 

Electric Power Development Co., Ltd.

     137,200        2,768,020  
Industrial Conglomerates – 0.2%

 

Nisshinbo Holdings, Inc.

     145,224        969,909  

Toshiba Corp.

     144,000        3,174,656  
     

 

 

 
Total Industrial Conglomerates               4,144,565  
Insurance – 2.9%      

Dai-ichi Life Holdings, Inc.

     994,900        11,939,169  

Sompo Holdings, Inc.

     306,300        9,485,072  

Tokio Marine Holdings, Inc.

     601,400        27,575,656  
     

 

 

 
Total Insurance               48,999,897  
Internet & Direct Marketing Retail – 0.1%      

Rakuten, Inc.

     125,900        956,306  
IT Services – 1.0%

 

Fujitsu Ltd.

     103,732        9,373,402  

NEC Corp.

     70,600        2,579,936  

NTT Data Corp.

     437,600        4,215,683  
     

 

 

 
Total IT Services               16,169,021  
Leisure Products – 0.8%      

Bandai Namco Holdings, Inc.

     147,500        7,160,831  

Mizuno Corp.

     33,300        577,132  

Shimano, Inc.

     24,700        3,532,657  

Tomy Co., Ltd.

     39,900        281,634  

Yamaha Corp.

     52,407        2,046,181  
     

 

 

 
Total Leisure Products               13,598,435  
Machinery – 8.5%      

Aida Engineering Ltd.

     44,700        286,116  

Amada Holdings Co., Ltd.

     359,493        2,840,513  

Anest Iwata Corp.

     40,300        371,810  

Bando Chemical Industries Ltd.

     40,300        234,808  

CKD Corp.

     51,600        707,406  

Daifuku Co., Ltd.(a)

     47,200        2,994,952  

DMG Mori Co., Ltd.(a)

     107,900        901,540  

Ebara Corp.

     45,231        861,842  

FANUC Corp.

     267,989        36,379,777  

Fujitec Co., Ltd.

     53,700        691,924  

Furukawa Co., Ltd.

     40,300        395,702  

Glory Ltd.

     40,300        929,526  

Harmonic Drive Systems, Inc.(a)

     25,500        1,116,090  

Hino Motors Ltd.

     475,810        2,560,749  

Hirata Corp.

     7,400        315,659  

Hitachi Construction Machinery Co., Ltd.(a)

     192,200        3,897,233  

Hitachi Zosen Corp.

     119,900        386,505  

Hokuetsu Industries Co., Ltd.

     40,300        404,288  

Hoshizaki Corp.

     21,069        1,582,785  

IHI Corp.

     109,700        1,282,399  

Iseki & Co., Ltd.

     40,300        425,940  

Japan Steel Works Ltd. (The)

     48,100        582,787  

Juki Corp.

     24,600        125,558  

Kawasaki Heavy Industries Ltd.(a)

     119,551      1,737,534  

Kito Corp.

     34,300        316,772  

Kitz Corp.

     62,200        376,236  

Komatsu Ltd.

     1,094,106        18,024,802  

Kubota Corp.

     601,102        7,692,302  

Kurita Water Industries Ltd.

     56,500        1,307,369  

Makino Milling Machine Co., Ltd.

     21,400        565,552  

Makita Corp.

     119,538        3,670,682  

Max Co., Ltd.

     40,300        621,551  

Meidensha Corp.

     36,900        554,414  

MINEBEA MITSUMI, Inc.

     173,301        2,590,967  

MISUMI Group, Inc.(a)

     51,300        1,119,091  

Mitsubishi Heavy Industries Ltd.

     226,919        5,743,654  

Mitsubishi Logisnext Co., Ltd.(a)

     26,700        216,162  

Mitsuboshi Belting Ltd.

     39,900        451,280  

Miura Co., Ltd.

     30,300        1,081,993  

Nabtesco Corp.

     75,000        1,733,361  

Nachi-Fujikoshi Corp.

     31,400        849,608  

NGK Insulators Ltd.

     275,875        3,621,091  

Nikkiso Co., Ltd.

     27,000        201,584  

Nippon Thompson Co., Ltd.

     39,300        134,331  

Nissei ASB Machine Co., Ltd.

     24,000        698,069  

Nitta Corp.

     38,100        746,436  

Nitto Kohki Co., Ltd.

     39,900        630,905  

NSK Ltd.

     601,566        3,867,230  

NTN Corp.

     697,700        1,221,484  

Obara Group, Inc.

     35,900        771,507  

Oiles Corp.(a)

     40,300        510,679  

OKUMA Corp.(a)

     24,900        803,821  

Organo Corp.

     16,400        832,495  

OSG Corp.

     40,124        537,811  

Ryobi Ltd.

     40,300        495,374  

Shibuya Corp.(a)

     25,100        591,026  

Shima Seiki Manufacturing Ltd.

     10,300        136,341  

Shinmaywa Industries Ltd.

     64,700        674,839  

SMC Corp.

     19,951        8,454,988  

Sodick Co., Ltd.(a)

     27,000        162,068  

Star Micronics Co., Ltd.

     39,900        403,232  

Sumitomo Heavy Industries Ltd.

     96,337        1,741,035  

Tadano Ltd.(a)

     62,000        444,519  

Takeuchi Manufacturing Co., Ltd.

     29,700        370,855  

THK Co., Ltd.

     115,379        2,364,118  

Toshiba Machine Co., Ltd.

     28,800        572,505  

Tsubaki Nakashima Co., Ltd.

     40,300        252,353  

Tsubakimoto Chain Co.

     40,300        918,327  

Tsugami Corp.(a)

     40,100        280,074  

Union Tool Co.

     25,800        605,358  

YAMABIKO Corp.

     40,300        303,123  

Yaskawa Electric Corp.

     106,100        2,924,863  

Yushin Precision Equipment Co., Ltd.

     40,300        251,233  
     

 

 

 
Total Machinery               145,452,913  
Marine – 0.1%      

Iino Kaiun Kaisha Ltd.(a)

     165,000        473,808  

Nippon Yusen K.K.

     55,100        656,372  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

NS United Kaiun Kaisha Ltd.

     40,300      $ 517,772  
     

 

 

 
Total Marine               1,647,952  
Media – 0.2%      

Dentsu Group, Inc.(a)

     173,000        3,344,458  
Metals & Mining – 0.9%

 

Asahi Holdings, Inc.

     54,000        1,131,972  

Daido Steel Co., Ltd.(a)

     39,700        1,279,755  

Daiki Aluminium Industry Co., Ltd.

     40,300        215,769  

Dowa Holdings Co., Ltd.

     40,200        1,053,456  

Hitachi Metals Ltd.(a)

     296,018        3,123,195  

Kyoei Steel Ltd.

     28,100        324,586  

Mitsubishi Materials Corp.(a)

     84,100        1,725,548  

Mitsui Mining & Smelting Co., Ltd.

     40,300        674,560  

Nippon Light Metal Holdings Co., Ltd.

     538,600        843,160  

Nippon Yakin Kogyo Co., Ltd.

     7,510        117,080  

Pacific Metals Co., Ltd.(a)

     16,800        244,324  

Sanyo Special Steel Co., Ltd.(a)

     38,900        348,805  

Sumitomo Metal Mining Co., Ltd.

     178,000        3,657,116  

Topy Industries Ltd.

     39,900        508,567  

UACJ Corp.

     40,300        579,741  
     

 

 

 
Total Metals & Mining               15,827,634  
Multiline Retail – 0.1%      

Ryohin Keikaku Co., Ltd.

     129,600        1,457,407  
Oil, Gas & Consumable Fuels – 0.6%

 

Idemitsu Kosan Co., Ltd.

     170,100        3,904,477  

Inpex Corp.

     962,700        5,429,037  
     

 

 

 
Total Oil, Gas & Consumable Fuels               9,333,514  
Paper & Forest Products – 0.2%      

Hokuetsu Corp.

     80,100        299,758  

Oji Holdings Corp.

     495,200        2,655,929  
     

 

 

 
Total Paper & Forest Products               2,955,687  
Personal Products – 1.2%      

Kao Corp.

     175,580        14,361,275  

Kose Corp.(a)

     16,600        2,049,724  

Mandom Corp.

     36,600        702,132  

Rohto Pharmaceutical Co., Ltd.

     23,000        630,633  

Shiseido Co., Ltd.

     51,722        3,057,661  
     

 

 

 
Total Personal Products               20,801,425  
Pharmaceuticals – 9.0%      

Astellas Pharma, Inc.

     1,286,204        19,908,729  

Chugai Pharmaceutical Co., Ltd.

     171,500        19,857,811  

Daiichi Sankyo Co., Ltd.

     209,021        14,393,609  

Eisai Co., Ltd.

     178,977        13,148,688  

Hisamitsu Pharmaceutical Co., Inc.

     41,200        1,923,468  

Kyowa Kirin Co., Ltd.

     251,570        5,644,042  

Ono Pharmaceutical Co., Ltd.

     306,600        7,060,420  

Otsuka Holdings Co., Ltd.

     385,700        15,116,453  

Santen Pharmaceutical Co., Ltd.

     156,100        2,686,618  

Sawai Pharmaceutical Co., Ltd.

     29,500        1,576,722  

Shionogi & Co., Ltd.

     121,177        5,968,210  

Sumitomo Dainippon Pharma Co., Ltd.

     136,800        1,777,874  

Takeda Pharmaceutical Co., Ltd.

     1,435,663      43,992,156  

ZERIA Pharmaceutical Co., Ltd.(a)

     40,300        779,458  
     

 

 

 
Total Pharmaceuticals               153,834,258  
Professional Services – 0.5%      

BeNEXT Group, Inc.

     19,400        91,829  

Outsourcing, Inc.

     44,600        194,174  

Recruit Holdings Co., Ltd.

     340,900        8,829,201  
     

 

 

 
Total Professional Services               9,115,204  
Real Estate Management & Development – 0.1%

 

Unizo Holdings Co., Ltd.

     40,200        2,223,093  
Road & Rail – 0.2%

 

Hitachi Transport System Ltd.

     32,700        711,522  

Nippon Express Co., Ltd.

     67,000        3,283,127  
     

 

 

 
Total Road & Rail               3,994,649  
Semiconductors & Semiconductor Equipment – 4.0%

 

Advantest Corp.(a)

     180,200        7,244,389  

Disco Corp.

     20,700        4,095,706  

Lasertec Corp.

     28,000        1,312,399  

Optorun Co., Ltd.

     30,300        721,890  

Rohm Co., Ltd.

     58,300        3,202,436  

SCREEN Holdings Co., Ltd.(a)

     33,260        1,232,365  

Shibaura Mechatronics Corp.

     12,400        273,718  

Shindengen Electric Manufacturing Co., Ltd.

     10,000        215,738  

Shinko Electric Industries Co., Ltd.

     98,459        944,871  

SUMCO Corp.

     387,500        5,000,116  

Tokyo Electron Ltd.

     215,853        40,699,253  

Tokyo Seimitsu Co., Ltd.

     49,000        1,397,990  

Ulvac, Inc.

     39,900        957,260  

Yamaichi Electronics Co., Ltd.

     18,600        238,799  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     67,536,930  
Software – 0.3%      

Trend Micro, Inc.

     119,208        5,896,630  
Specialty Retail – 0.7%

 

ABC-Mart, Inc.

     43,600        2,184,947  

Fast Retailing Co., Ltd.

     21,500        8,800,750  

IDOM, Inc.

     119,600        435,393  

Sanrio Co., Ltd.(a)

     33,100        440,597  

VT Holdings Co., Ltd.

     118,900        322,706  
     

 

 

 
Total Specialty Retail               12,184,393  
Technology Hardware, Storage & Peripherals – 3.6%

 

Brother Industries Ltd.

     199,143        3,051,109  

Canon, Inc.

     1,711,597        37,401,300  

FUJIFILM Holdings Corp.

     190,795        9,612,654  

Konica Minolta, Inc.

     359,438        1,461,658  

Maxell Holdings Ltd.

     19,500        192,191  

MCJ Co., Ltd.(a)

     48,900        270,874  

Ricoh Co., Ltd.(a)

     407,378        2,996,231  

Riso Kagaku Corp.

     40,300        609,605  

Roland DG Corp.

     31,900        344,250  

Seiko Epson Corp.(a)

     373,200        4,044,685  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

Toshiba TEC Corp.

     34,100      $ 1,073,966  

Wacom Co., Ltd.

     60,700        178,802  
     

 

 

 
Total Technology Hardware, Storage & Peripherals               61,237,325  
Textiles, Apparel & Luxury Goods – 0.3%

 

Asics Corp.

     97,792        904,953  

Descente Ltd.(a)

     32,681        384,464  

Kurabo Industries Ltd.

     17,947        430,409  

Onward Holdings Co., Ltd.

     126,600        557,038  

Seiko Holdings Corp.

     38,900        628,425  

Seiren Co., Ltd.

     39,910        480,598  

Wacoal Holdings Corp.

     40,300        876,144  
     

 

 

 
Total Textiles, Apparel & Luxury Goods               4,262,031  
Tobacco – 3.3%      

Japan Tobacco, Inc.

     3,025,631        55,941,452  
Trading Companies & Distributors – 6.7%

 

Alconix Corp.

     40,200        401,795  

Hanwa Co., Ltd.

     55,000        856,931  

Inabata & Co., Ltd.

     40,286        440,345  

ITOCHU Corp.(a)

     1,700,094        35,315,278  

Kokusai Pulp & Paper Co., Ltd.(a)

     76,800        181,409  

Marubeni Corp.

     2,084,578        10,407,925  

Mitsubishi Corp.

     1,744,400        37,027,397  

Nagase & Co., Ltd.

     83,000        983,345  

Nippon Steel Trading Corp.

     40,300        1,362,558  

Sanyo Trading Co., Ltd.

     51,600        394,809  

Sojitz Corp.

     1,556,921      3,663,174  

Sumitomo Corp.

     1,468,777        16,857,160  

Toyota Tsusho Corp.

     277,810        6,551,843  

Yamazen Corp.

     82,300        686,882  
     

 

 

 
Total Trading Companies & Distributors               115,130,851  
Transportation Infrastructure – 0.0%

 

Nissin Corp.

     39,900        590,988  
Wireless Telecommunication Services – 0.5%

 

SoftBank Group Corp.

     244,800        8,589,712  

TOTAL COMMON STOCKS

(Cost: $2,189,511,855)

              1,688,699,579  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.4%

 

United States – 3.4%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(b)

 

  
(Cost: $58,045,035)      58,045,035        58,045,035  

TOTAL INVESTMENTS IN SECURITIES – 102.2%

(Cost: $2,247,556,890)

 

 

     1,746,744,614  

Other Assets less Liabilities – (2.2)%

 

     (36,944,045
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,709,800,569  

 

(a)

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $84,933,441 and the total market value of the collateral held by the Fund was $89,703,447. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $31,658,412.

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

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

Bank of America N.A.

    4/3/2020       2,116,330,801       JPY       19,752,966       USD     $     $ (148,553

Bank of America N.A.

    4/3/2020       5,282,535,804       JPY       49,382,416       USD             (448,189

Bank of America N.A.

    4/3/2020       2,082,454,465       JPY       19,752,966       USD             (462,363

Bank of America N.A.

    4/3/2020       3,024,484,608       JPY       27,160,329       USD       856,673        

Bank of America N.A.

    4/3/2020       1,374,839,794       JPY       12,345,604       USD       390,083        

Bank of America N.A.

    4/3/2020       17,101,688,585       JPY       158,418,790       USD       943        

Bank of America N.A.

    4/3/2020       177,776,697       USD       19,234,016,401       JPY             (395,636

Bank of America N.A.

    5/8/2020       140,209,816       USD       15,113,131,940       JPY             (14,575

Bank of Montreal

    4/3/2020       2,941,689,061       JPY       27,160,329       USD       89,705        

Bank of Montreal

    4/3/2020       17,101,149,961       JPY       158,418,790       USD             (4,046

Bank of Montreal

    4/3/2020       177,776,697       USD       19,143,136,954       JPY       446,217        

Bank of Montreal

    5/8/2020       140,209,816       USD       15,112,276,660       JPY             (6,640

Canadian Imperial Bank of Commerce

    4/3/2020       17,101,625,218       JPY       158,418,790       USD       356        

Canadian Imperial Bank of Commerce

    4/3/2020       177,776,697       USD       19,219,029,826       JPY             (256,809

Canadian Imperial Bank of Commerce

    5/8/2020       140,209,816       USD       15,112,865,542       JPY             (12,103

Citibank N.A.

    4/3/2020       1,791,131,874       JPY       17,283,846       USD             (691,880

Citibank N.A.

    4/3/2020       2,135,757,844       JPY       19,752,966       USD       31,407        

Citibank N.A.

    4/3/2020       17,100,738,072       JPY       158,418,790       USD             (7,862

Citibank N.A.

    4/3/2020       177,776,697       USD       19,143,243,620       JPY       445,229        

Citibank N.A.

    5/8/2020       140,209,816       USD       15,113,412,360       JPY             (17,177

Commonwealth Bank of Australia

    4/3/2020       8,550,797,522       JPY       79,209,402       USD       31        

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Table of Contents

Schedule of Investments (concluded)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2020

 

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

Commonwealth Bank of Australia

    4/3/2020       177,776,697       USD       19,219,900,932       JPY     $     $ (264,879

Commonwealth Bank of Australia

    5/8/2020       70,104,918       USD       7,555,999,198       JPY             (2,019

Credit Suisse International

    4/3/2020       17,100,563,812       JPY       158,418,790       USD             (9,476

Credit Suisse International

    4/3/2020       177,776,697       USD       19,143,403,619       JPY       443,746        

Credit Suisse International

    5/8/2020       140,209,816       USD       15,112,136,451       JPY             (5,339

Goldman Sachs

    4/3/2020       17,100,753,914       JPY       158,418,790       USD             (7,715

Goldman Sachs

    4/3/2020       177,776,697       USD       19,143,154,731       JPY       446,052        

Goldman Sachs

    5/8/2020       140,209,816       USD       15,113,594,633       JPY             (18,868

HSBC Holdings PLC

    4/3/2020       17,100,833,124       JPY       158,418,790       USD             (6,981

HSBC Holdings PLC

    4/3/2020       177,776,697       USD       19,144,061,393       JPY       437,653        

HSBC Holdings PLC

    5/8/2020       140,209,816       USD       15,112,094,388       JPY             (4,948

JP Morgan Chase Bank N.A.

    4/1/2020       351,324       USD       37,784,880       JPY       1,318        

JP Morgan Chase Bank N.A.

    4/1/2020       314,117       USD       33,987,500       JPY             (713

JP Morgan Chase Bank N.A.

    4/3/2020       3,570,079,991       JPY       32,098,570       USD       972,499        

JP Morgan Chase Bank N.A.

    4/3/2020       1,867,853,138       JPY       17,283,846       USD       18,820        

JP Morgan Chase Bank N.A.

    4/3/2020       17,101,672,743       JPY       158,418,790       USD       797        

JP Morgan Chase Bank N.A.

    4/3/2020       133,332,523       USD       14,406,445,777       JPY             (120,106

JP Morgan Chase Bank N.A.

    5/8/2020       140,209,816       USD       15,112,907,605       JPY             (12,494

Morgan Stanley & Co. International

    4/3/2020       17,101,039,068       JPY       158,418,790       USD             (5,073

Morgan Stanley & Co. International

    4/3/2020       177,776,697       USD       19,142,870,289       JPY       448,687        

Morgan Stanley & Co. International

    5/8/2020       140,209,816       USD       15,112,557,080       JPY             (9,241

Societe Generale

    4/3/2020       17,100,753,914       JPY       158,418,790       USD             (7,715

Societe Generale

    4/3/2020       133,332,523       USD       14,454,445,485       JPY             (564,746

Societe Generale

    5/8/2020       140,209,816       USD       15,112,024,283       JPY             (4,298

Standard Chartered Bank

    4/3/2020       17,099,724,192       JPY       158,418,790       USD             (17,254

Standard Chartered Bank

    4/3/2020       133,332,523       USD       14,404,712,454       JPY             (104,049

Standard Chartered Bank

    5/8/2020       140,209,816       USD       15,111,253,129       JPY       2,857        

UBS AG

    4/3/2020       17,101,751,953       JPY       158,418,790       USD       1,530        

UBS AG

    4/3/2020       222,220,878       USD       24,092,054,266       JPY             (953,389

UBS AG

    5/8/2020       140,209,816       USD       15,112,346,765       JPY             (7,290
                                            $ 5,034,603     $ (4,592,426

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.3%      
Japan – 98.3%      
Air Freight & Logistics – 0.3%      

Kintetsu World Express, Inc.

     3,300      $ 48,512  

Konoike Transport Co., Ltd.

     2,900        31,107  

Maruwa Unyu Kikan Co., Ltd.

     1,200        27,178  

SBS Holdings, Inc.

     1,600        25,922  
     

 

 

 
Total Air Freight & Logistics

 

     132,719  
Auto Components – 6.1%

 

Aisan Industry Co., Ltd.

     6,100        28,535  

Daido Metal Co., Ltd.

     5,700        28,406  

Daikyonishikawa Corp.(a)

     7,600        34,777  

Eagle Industry Co., Ltd.

     6,600        41,451  

Exedy Corp.

     5,000        74,059  

FCC Co., Ltd.

     2,900        42,417  

Futaba Industrial Co., Ltd.

     4,200        17,780  

G-Tekt Corp.

     3,298        33,757  

H-One Co., Ltd.(a)

     3,200        14,762  

Ichikoh Industries Ltd.

     2,700        12,030  

Kasai Kogyo Co., Ltd.(a)

     5,100        24,944  

Keihin Corp.

     5,700        133,319  

Musashi Seimitsu Industry Co., Ltd.

     5,100        39,400  

NHK Spring Co., Ltd.

     17,400        114,114  

Nifco, Inc.

     5,900        106,026  

Nippon Piston Ring Co., Ltd.(a)

     1,500        15,701  

Nissin Kogyo Co., Ltd.

     5,200        106,163  

NOK Corp.

     14,600        161,343  

Pacific Industrial Co., Ltd.

     3,600        31,380  

Piolax, Inc.

     2,100        29,548  

Press Kogyo Co., Ltd.

     10,200        22,865  

Sanoh Industrial Co., Ltd.(a)

     6,000        38,016  

Shoei Co., Ltd.

     1,600        33,629  

Showa Corp.

     5,000        104,303  

Sumitomo Riko Co., Ltd.

     4,800        26,011  

Sumitomo Rubber Industries Ltd.

     29,900        282,230  

T. RAD Co., Ltd.

     1,500        17,257  

Tachi-S Co., Ltd.

     2,300        20,879  

Tokai Rika Co., Ltd.

     8,625        107,538  

Topre Corp.

     4,100        45,575  

Toyo Tire Corp.(a)

     9,700        111,417  

Toyoda Gosei Co., Ltd.

     9,800        168,303  

Toyota Boshoku Corp.

     18,600        221,742  

TPR Co., Ltd.(a)

     3,106        33,144  

TS Tech Co., Ltd.

     4,900        116,106  

Unipres Corp.

     4,200        37,504  

Yokohama Rubber Co., Ltd. (The)

     13,500        167,945  

Yorozu Corp.

     2,400        23,476  
     

 

 

 
Total Auto Components

 

     2,667,852  
Automobiles – 0.1%

 

Nissan Shatai Co., Ltd.

     5,100        44,360  
Banks – 7.9%

 

77 Bank Ltd. (The)

     4,900      $ 63,500  

Aomori Bank Ltd. (The)

     1,600        38,772  

Aozora Bank Ltd.(a)

     17,600        336,170  

Awa Bank Ltd. (The)

     1,800        38,049  

Bank of Kyoto Ltd. (The)(a)

     2,900        92,409  

Bank of Nagoya Ltd. (The)

     1,400        33,899  

Bank of Okinawa Ltd. (The)

     1,340        39,162  

Bank of the Ryukyus Ltd.

     3,500        34,366  

Chugoku Bank Ltd. (The)

     10,600        94,556  

Chukyo Bank Ltd. (The)

     1,400        28,128  

Daishi Hokuetsu Financial Group, Inc.

     3,700        80,988  

Ehime Bank Ltd. (The)

     3,300        35,857  

FIDEA Holdings Co., Ltd.

     32,000        30,235  

Fukui Bank Ltd. (The)

     500        7,021  

Gunma Bank Ltd. (The)

     35,600        108,163  

Hachijuni Bank Ltd. (The)

     38,200        138,356  

Hiroshima Bank Ltd. (The)

     27,800        116,139  

Hokkoku Bank Ltd. (The)

     2,000        62,433  

Hokuhoku Financial Group, Inc.

     11,500        103,117  

Hyakugo Bank Ltd. (The)

     16,500        46,158  

Hyakujushi Bank Ltd. (The)

     2,900        52,678  

Iyo Bank Ltd. (The)

     18,700        94,751  

Jimoto Holdings, Inc.

     26,700        22,507  

Juroku Bank Ltd. (The)

     2,800        48,891  

Kansai Mirai Financial Group, Inc.

     16,900        60,897  

Keiyo Bank Ltd. (The)

     11,900        58,863  

Kiyo Bank Ltd. (The)

     3,998        59,106  

Kyushu Financial Group, Inc.

     30,500        116,683  

Mebuki Financial Group, Inc.

     120,400        245,361  

Michinoku Bank Ltd. (The)

     2,000        22,102  

Musashino Bank Ltd. (The)

     3,100        39,513  

Nanto Bank Ltd. (The)(a)

     2,800        57,839  

Nishi-Nippon Financial Holdings, Inc.

     15,500        87,583  

North Pacific Bank Ltd.

     38,500        72,752  

Ogaki Kyoritsu Bank Ltd. (The)

     3,000        60,442  

San ju San Financial Group, Inc.

     3,000        41,462  

San-In Godo Bank Ltd. (The)

     14,700        74,484  

Senshu Ikeda Holdings, Inc.

     46,100        69,606  

Seven Bank Ltd.

     115,900        299,533  

Shiga Bank Ltd. (The)(a)

     2,400        57,090  

Shikoku Bank Ltd. (The)

     4,600        36,347  

Toho Bank Ltd. (The)

     20,200        50,521  

Tokyo Kiraboshi Financial Group, Inc.

     2,700        28,537  

TOMONY Holdings, Inc.

     10,200        33,920  

Towa Bank Ltd. (The)

     5,500        32,046  

Yamagata Bank Ltd. (The)

     2,300        28,528  

Yamaguchi Financial Group, Inc.

     17,700        100,342  

Yamanashi Chuo Bank Ltd. (The)

     2,900        19,771  
     

 

 

 
Total Banks

 

     3,499,633  
Beverages – 0.3%

 

Sapporo Holdings Ltd.

     3,500        64,615  

Takara Holdings, Inc.(a)

     8,100        60,775  
     

 

 

 
Total Beverages

 

     125,390  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Biotechnology – 0.1%

 

Takara Bio, Inc.(a)

     1,100      $ 22,733  
Building Products – 1.9%

 

Aica Kogyo Co., Ltd.

     4,000        114,677  

Bunka Shutter Co., Ltd.

     4,200        30,541  

Central Glass Co., Ltd.

     3,100        54,043  

Eidai Co., Ltd.

     8,200        20,964  

Kondotec, Inc.

     2,000        17,211  

Nichias Corp.

     5,200        97,493  

Nichiha Corp.

     1,600        30,353  

Nihon Flush Co., Ltd.

     1,200        10,560  

Nippon Sheet Glass Co., Ltd.(a)

     9,700        29,921  

Nitto Boseki Co., Ltd.(a)

     1,600        70,770  

Noritz Corp.

     2,700        29,437  

Okabe Co., Ltd.

     4,100        27,459  

Sanwa Holdings Corp.

     14,300        111,798  

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

     1,900        38,069  

Sinko Industries Ltd.

     1,600        20,690  

Takara Standard Co., Ltd.

     3,117        47,872  

Takasago Thermal Engineering Co., Ltd.

     5,200        80,007  
     

 

 

 
Total Building Products

 

     831,865  
Capital Markets – 1.8%

 

GCA Corp.

     4,600        23,990  

GMO Financial Holdings, Inc.

     13,300        56,179  

Ichiyoshi Securities Co., Ltd.

     5,600        23,135  

IwaiCosmo Holdings, Inc.(a)

     5,000        43,583  

Kyokuto Securities Co., Ltd.

     4,300        23,182  

Marusan Securities Co., Ltd.

     7,600        31,891  

Matsui Securities Co., Ltd.(a)

     53,200        390,789  

Monex Group, Inc.(a)

     10,265        16,260  

Morningstar Japan K.K.(a)

     7,399        23,851  

Okasan Securities Group, Inc.

     18,600        58,924  

Sparx Group Co., Ltd.

     23,700        36,443  

Tokai Tokyo Financial Holdings, Inc.

     30,600        69,729  
     

 

 

 
Total Capital Markets

 

     797,956  
Chemicals – 9.0%

 

Achilles Corp.

     1,200        19,486  

ADEKA Corp.(a)

     7,300        91,356  

Air Water, Inc.

     10,900        150,038  

Asahi Yukizai Corp.

     1,800        23,260  

C.I. Takiron Corp.

     8,300        46,053  

Chugoku Marine Paints Ltd.

     6,900        56,182  

Daicel Corp.

     28,300        206,833  

Dainichiseika Color & Chemicals Manufacturing Co., Ltd.

     1,500        32,778  

Denka Co., Ltd.

     8,400        177,174  

DIC Corp.

     10,400        230,533  

DKS Co., Ltd.

     600        20,842  

Fujimi, Inc.(a)

     3,100        77,188  

Fujimori Kogyo Co., Ltd.

     1,200        32,514  

Fuso Chemical Co., Ltd.(a)

     1,900        53,416  

Harima Chemicals Group, Inc.(a)

     2,400        24,966  

JCU Corp.

     1,700        35,479  

JSP Corp.(a)

     2,017      26,120  

Kaneka Corp.

     4,348        104,315  

Kanto Denka Kogyo Co., Ltd.

     2,400        17,229  

KH Neochem Co., Ltd.(a)

     1,900        26,769  

Koatsu Gas Kogyo Co., Ltd.

     3,200        21,402  

Konishi Co., Ltd.

     2,000        26,530  

Kumiai Chemical Industry Co., Ltd.(a)

     4,694        36,394  

Kureha Corp.

     1,200        48,965  

Lintec Corp.

     6,700        141,131  

Mitsubishi Gas Chemical Co., Inc.

     29,300        319,177  

Moriroku Holdings Co., Ltd.

     1,900        26,347  

Nihon Nohyaku Co., Ltd.

     7,300        28,265  

Nihon Parkerizing Co., Ltd.

     5,300        54,986  

Nippon Chemical Industrial Co., Ltd.

     700        14,395  

Nippon Kayaku Co., Ltd.

     10,800        99,541  

Nippon Pillar Packing Co., Ltd.

     3,300        38,455  

Nippon Shokubai Co., Ltd.(a)

     2,400        110,046  

Nippon Soda Co., Ltd.

     1,900        47,467  

NOF Corp.

     4,200        133,444  

Okamoto Industries, Inc.

     1,200        43,129  

Osaka Organic Chemical Industry Ltd.(a)

     2,200        30,609  

Osaka Soda Co., Ltd.(a)

     1,677        39,985  

Riken Technos Corp.

     5,900        21,041  

Sakai Chemical Industry Co., Ltd.

     1,100        18,310  

Sakata INX Corp.

     4,500        37,891  

Sanyo Chemical Industries Ltd.

     1,300        47,626  

Sekisui Plastics Co., Ltd.

     5,200        26,974  

Shikoku Chemicals Corp.

     3,100        28,515  

Stella Chemifa Corp.(a)

     700        15,724  

Sumitomo Bakelite Co., Ltd.

     2,500        53,147  

Sumitomo Seika Chemicals Co., Ltd.

     1,200        29,546  

T Hasegawa Co., Ltd.

     2,100        39,625  

Taiyo Holdings Co., Ltd.

     2,900        109,333  

Takasago International Corp.

     900        16,815  

Tayca Corp.

     1,000        13,311  

Toagosei Co., Ltd.

     7,800        67,917  

Tokai Carbon Co., Ltd.(a)

     11,900        98,326  

Tokuyama Corp.

     3,500        67,825  

Tokyo Ohka Kogyo Co., Ltd.

     3,200        122,866  

Toyo Ink SC Holdings Co., Ltd.

     5,600        106,081  

Toyobo Co., Ltd.

     7,000        74,114  

Ube Industries Ltd.

     9,380        143,973  

Valqua Ltd.

     2,000        32,421  

Zeon Corp.

     9,500        71,632  
     

 

 

 
Total Chemicals               3,955,812  
Commercial Services & Supplies – 1.9%

 

Aeon Delight Co., Ltd.

     2,200        67,352  

Bell System24 Holdings, Inc.

     3,900        40,714  

Daiseki Co., Ltd.

     1,700        36,219  

Itoki Corp.

     4,100        12,115  

King Jim Co., Ltd.(a)

     1,400        10,803  

Kokuyo Co., Ltd.

     5,900        82,635  

Mitsubishi Pencil Co., Ltd.

     2,100        27,642  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  

NAC Co., Ltd.(a)

     2,100      $ 15,329  

Nakabayashi Co., Ltd.

     2,200        10,984  

Nippon Air Conditioning Services Co., Ltd.(a)

     3,800        23,795  

Nippon Kanzai Co., Ltd.

     2,700        44,243  

Nippon Parking Development Co., Ltd.

     21,900        27,386  

Okamura Corp.

     6,400        51,281  

Park24 Co., Ltd.

     9,600        141,481  

Pilot Corp.

     900        29,971  

Prestige International, Inc.

     2,300        17,662  

Relia, Inc.

     4,600        44,528  

Sato Holdings Corp.

     2,100        41,278  

Takara & Co. Ltd.

     1,100        17,088  

Toppan Forms Co., Ltd.

     7,000        62,443  

Uchida Yoko Co., Ltd.

     500        16,326  
     

 

 

 
Total Commercial Services & Supplies

 

     821,275  
Construction & Engineering – 5.4%

 

Asanuma Corp.

     900        31,471  

Daiho Corp.

     1,100        23,069  

Hazama Ando Corp.

     16,900        107,861  

Kandenko Co., Ltd.

     12,600        100,492  

Kumagai Gumi Co., Ltd.

     3,300        76,451  

Kyowa Exeo Corp.

     6,500        144,866  

Kyudenko Corp.(a)

     4,700        127,258  

Maeda Corp.(a)

     9,500        70,136  

Maeda Road Construction Co., Ltd.(a)

     6,600        123,557  

Meisei Industrial Co., Ltd.

     6,700        45,554  

Mirait Holdings Corp.(a)

     4,944        61,688  

Nippo Corp.

     4,800        105,822  

Nippon Densetsu Kogyo Co., Ltd.

     2,000        39,035  

Nippon Koei Co., Ltd.

     1,200        32,658  

Nishimatsu Construction Co., Ltd.

     5,700        109,348  

Nittoc Construction Co., Ltd.

     5,600        38,283  

Okumura Corp.

     4,300        89,541  

OSJB Holdings Corp.

     8,400        18,597  

Penta-Ocean Construction Co., Ltd.

     22,400        118,064  

PS Mitsubishi Construction Co., Ltd.

     5,800        27,561  

Raito Kogyo Co., Ltd.

     3,300        37,507  

Raiznext Corp.

     4,400        49,928  

Sanki Engineering Co., Ltd.

     4,600        51,601  

Seikitokyu Kogyo Co., Ltd.

     4,900        37,038  

Shinnihon Corp.

     3,300        25,219  

SHO-BOND Holdings Co., Ltd.(a)

     2,000        80,033  

Sumitomo Densetsu Co., Ltd.

     2,900        59,717  

Sumitomo Mitsui Construction Co., Ltd.

     13,640        60,268  

Taihei Dengyo Kaisha Ltd.

     1,900        40,814  

Taikisha Ltd.

     1,900        55,088  

Tekken Corp.

     1,000        21,750  

Toa Corp.

     1,100        14,713  

Toda Corp.(a)

     22,800        132,844  

Tokyo Energy & Systems, Inc.

     2,000        15,229  

Tokyu Construction Co., Ltd.

     9,600        50,599  

Totetsu Kogyo Co., Ltd.

     1,900        51,339  

Toyo Construction Co., Ltd.

     7,000        28,401  

Yahagi Construction Co., Ltd.

     4,200      30,463  

Yokogawa Bridge Holdings Corp.

     1,900        34,637  

Yurtec Corp.

     4,600        26,205  
     

 

 

 
Total Construction & Engineering

 

     2,394,705  
Construction Materials – 0.3%

 

Asia Pile Holdings Corp.(a)

     3,800        14,150  

Krosaki Harima Corp.

     1,100        41,624  

Shinagawa Refractories Co., Ltd.

     1,200        24,622  

Sumitomo Osaka Cement Co., Ltd.

     2,500        75,031  
     

 

 

 
Total Construction Materials

 

     155,427  
Consumer Finance – 0.8%

 

Credit Saison Co., Ltd.

     17,100        198,950  

J Trust Co., Ltd.(a)

     5,200        10,838  

Jaccs Co., Ltd.

     3,500        59,460  

Orient Corp.

     80,500        90,227  
     

 

 

 
Total Consumer Finance

 

     359,475  
Containers & Packaging – 0.5%

 

FP Corp.

     1,400        92,983  

Fuji Seal International, Inc.

     1,300        23,024  

Pack Corp. (The)

     800        26,826  

Rengo Co., Ltd.

     11,381        88,767  
     

 

 

 
Total Containers & Packaging

 

     231,600  
Distributors – 0.2%

 

Arata Corp.(a)

     900        38,558  

Doshisha Co., Ltd.

     2,300        27,270  

Happinet Corp.

     2,900        29,442  
     

 

 

 
Total Distributors

 

     95,270  
Diversified Consumer Services – 0.5%

 

Benesse Holdings, Inc.

     4,800        122,318  

Meiko Network Japan Co., Ltd.

     3,000        21,175  

Riso Kyoiku Co., Ltd.

     9,500        25,168  

Sprix Ltd.

     800        4,750  

Studio Alice Co., Ltd.

     1,100        15,040  

Tokyo Individualized Educational Institute, Inc.

     4,900        20,652  
     

 

 

 
Total Diversified Consumer Services

 

     209,103  
Diversified Financial Services – 0.9%

 

Financial Products Group Co., Ltd.

     13,000        65,750  

Fuyo General Lease Co., Ltd.

     2,500        126,905  

Japan Securities Finance Co., Ltd.(a)

     11,400        52,060  

Mizuho Leasing Co., Ltd.

     3,300        64,407  

NEC Capital Solutions Ltd.

     2,000        34,088  

Ricoh Leasing Co., Ltd.

     1,900        50,037  
     

 

 

 
Total Diversified Financial Services

 

     393,247  
Diversified Telecommunication Services – 0.2%

 

ARTERIA Networks Corp.

     2,800        47,568  

Internet Initiative Japan, Inc.

     1,700        55,824  
     

 

 

 
Total Diversified Telecommunication Services

 

     103,392  
Electric Utilities – 0.6%

 

Hokkaido Electric Power Co., Inc.

     8,900        38,583  

Okinawa Electric Power Co., Inc. (The)

     4,918        90,201  

Shikoku Electric Power Co., Inc.

     16,400        129,735  
     

 

 

 
Total Electric Utilities

 

     258,519  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Electrical Equipment – 1.5%

 

Cosel Co., Ltd.

     2,500      $ 22,857  

Daihen Corp.

     1,400        37,686  

Denyo Co., Ltd.

     1,900        33,880  

Fujikura Ltd.(a)

     19,900        57,697  

Furukawa Electric Co., Ltd.

     4,126        75,101  

GS Yuasa Corp.

     4,300        57,915  

Idec Corp.

     1,900        24,112  

Mabuchi Motor Co., Ltd.

     5,300        158,084  

Nippon Carbon Co., Ltd.(a)

     700        20,847  

Nissin Electric Co., Ltd.

     6,600        56,612  

Nitto Kogyo Corp.

     2,200        35,235  

Sanyo Denki Co., Ltd.

     800        32,273  

SEC Carbon Ltd.(a)

     200        11,505  

Sinfonia Technology Co., Ltd.

     2,200        19,564  

Tatsuta Electric Wire and Cable Co., Ltd.

     6,400        27,271  

Toyo Tanso Co., Ltd.

     1,100        14,255  
     

 

 

 
Total Electrical Equipment

 

     684,894  
Electronic Equipment, Instruments & Components – 5.2%

 

Ai Holdings Corp.

     2,700        33,339  

Amano Corp.

     5,300        117,189  

Anritsu Corp.(a)

     4,000        74,327  

Canon Electronics, Inc.

     4,600        67,963  

Citizen Watch Co., Ltd.(a)

     28,100        99,953  

CMK Corp.

     2,600        10,717  

CONEXIO Corp.

     3,600        45,185  

Daiwabo Holdings Co., Ltd.

     1,900        91,344  

Dexerials Corp.

     7,800        50,432  

Elematec Corp.

     3,558        25,345  

Enplas Corp.

     900        17,674  

ESPEC Corp.

     1,900        28,899  

FTGroup Co., Ltd.(a)

     2,000        19,490  

Furuno Electric Co., Ltd.

     1,900        14,837  

Hakuto Co., Ltd.

     3,300        29,560  

Hioki EE Corp.(a)

     800        22,787  

Hochiki Corp.

     1,600        20,245  

Horiba Ltd.

     2,900        144,523  

Ibiden Co., Ltd.

     6,700        147,151  

Innotech Corp.

     2,300        18,322  

Iriso Electronics Co., Ltd.(a)

     700        20,685  

Japan Aviation Electronics Industry Ltd.

     5,400        65,077  

Japan Cash Machine Co., Ltd.(a)

     1,800        9,020  

Kaga Electronics Co., Ltd.

     3,900        61,487  

Koa Corp.(a)

     3,200        26,441  

Kyosan Electric Manufacturing Co., Ltd.(a)

     7,000        30,216  

Macnica Fuji Electronics Holdings, Inc.

     5,900        73,289  

Marubun Corp.(a)

     4,900        21,605  

Maruwa Co., Ltd.

     300        18,313  

Meiko Electronics Co., Ltd.(a)

     1,400        17,352  

Nippon Electric Glass Co., Ltd.

     9,300        124,741  

Nippon Signal Co., Ltd.

     4,000        39,090  

Nissha Co., Ltd.

     3,900        25,939  

Nohmi Bosai Ltd.

     2,166        40,168  

Ohara, Inc.(a)

     1,600      12,924  

Oki Electric Industry Co., Ltd.

     8,100        76,082  

Optex Group Co., Ltd.(a)

     2,100        19,453  

Osaki Electric Co., Ltd.

     4,400        21,765  

Restar Holdings Corp.(a)

     2,600        36,463  

Riken Keiki Co., Ltd.

     1,100        20,807  

Ryoden Corp.

     2,100        25,230  

Ryosan Co., Ltd.

     3,400        75,241  

Sanshin Electronics Co., Ltd.

     2,700        34,889  

Satori Electric Co., Ltd.(a)

     2,300        18,898  

Siix Corp.(a)

     2,800        22,513  

Sumida Corp.

     1,700        10,425  

Sun-Wa Technos Corp.

     2,100        15,854  

Tachibana Eletech Co., Ltd.(a)

     1,800        24,143  

Taiyo Yuden Co., Ltd.(a)

     3,800        100,707  

Tamura Corp.

     3,700        13,572  

Tokyo Electron Device Ltd.

     1,600        33,362  

Topcon Corp.

     4,800        35,659  

V Technology Co., Ltd.

     900        26,094  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     2,276,786  
Energy Equipment & Services – 0.1%

 

Modec, Inc.

     2,700        32,689  

Toyo Kanetsu K.K.

     1,200        21,731  
     

 

 

 
Total Energy Equipment & Services

 

     54,420  
Entertainment – 1.6%

 

Amuse, Inc.(a)

     700        14,745  

Avex, Inc.

     4,400        34,685  

Capcom Co., Ltd.

     5,500        172,711  

Daiichikosho Co., Ltd.

     3,100        82,730  

GungHo Online Entertainment, Inc.

     2,200        30,813  

Koei Tecmo Holdings Co., Ltd.

     8,920        230,116  

Marvelous, Inc.

     6,200        30,668  

Toei Animation Co., Ltd.(a)

     1,400        65,490  

Toei Co., Ltd.

     300        37,683  
     

 

 

 
Total Entertainment

 

     699,641  
Food & Staples Retailing – 3.3%

 

Aeon Hokkaido Corp.

     2,900        19,825  

Ain Holdings, Inc.

     700        41,175  

Arcs Co., Ltd.

     3,400        61,351  

Axial Retailing, Inc.

     1,200        44,241  

Cawachi Ltd.

     1,600        35,155  

Cocokara fine, Inc.

     800        41,573  

Cosmos Pharmaceutical Corp.

     200        47,761  

Create SD Holdings Co., Ltd.

     2,400        60,158  

Heiwado Co., Ltd.

     2,800        49,383  

Inageya Co., Ltd.(a)

     1,600        23,462  

JM Holdings Co., Ltd.

     1,300        26,553  

Kato Sangyo Co., Ltd.

     1,800        56,774  

Kobe Bussan Co., Ltd.

     2,100        82,868  

Life Corp.

     1,800        49,737  

Ministop Co., Ltd.(a)

     1,800        24,277  

Mitsubishi Shokuhin Co., Ltd.

     2,500        64,355  

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Nihon Chouzai Co., Ltd.

     1,400      $ 21,463  

Okuwa Co., Ltd.

     3,200        51,458  

Qol Holdings Co., Ltd.

     1,800        22,093  

San-A Co., Ltd.

     1,000        41,730  

Shoei Foods Corp.

     600        22,009  

Sugi Holdings Co., Ltd.

     2,200        117,586  

Sundrug Co., Ltd.

     7,000        224,353  

United Super Markets Holdings, Inc.(a)

     5,900        52,521  

Valor Holdings Co., Ltd.

     3,000        53,439  

Yamatane Corp.

     1,500        15,395  

Yaoko Co., Ltd.

     1,200        74,142  

Yokohama Reito Co., Ltd.

     4,200        35,948  
     

 

 

 
Total Food & Staples Retailing

 

     1,460,785  
Food Products – 2.8%

 

Ariake Japan Co., Ltd.

     900        56,857  

DyDo Group Holdings, Inc.

     500        16,928  

Fuji Oil Holdings, Inc.(a)

     3,551        85,786  

Fujicco Co., Ltd.

     1,700        30,660  

Hokuto Corp.

     3,000        52,383  

Itoham Yonekyu Holdings, Inc.

     17,400        102,671  

Kagome Co., Ltd.(a)

     3,900        101,334  

Kameda Seika Co., Ltd.

     600        27,484  

Kotobuki Spirits Co., Ltd.

     600        27,039  

Kyokuyo Co., Ltd.(a)

     900        21,217  

Marudai Food Co., Ltd.(a)

     1,300        23,542  

Maruha Nichiro Corp.

     1,700        35,557  

Megmilk Snow Brand Co., Ltd.

     3,000        68,251  

Mitsui Sugar Co., Ltd.

     3,200        61,566  

Morinaga & Co., Ltd.

     1,700        69,603  

Morinaga Milk Industry Co., Ltd.

     1,800        69,696  

Nippon Flour Mills Co., Ltd.

     3,900        60,945  

Nippon Suisan Kaisha Ltd.

     10,200        45,163  

Nisshin Oillio Group Ltd. (The)

     2,200        74,383  

Prima Meat Packers Ltd.

     3,600        81,801  

S Foods, Inc.

     1,300        26,926  

Sakata Seed Corp.

     1,200        36,460  

Showa Sangyo Co., Ltd.(a)

     1,700        50,549  

Warabeya Nichiyo Holdings Co., Ltd.

     1,400        22,733  
     

 

 

 
Total Food Products

 

     1,249,534  
Gas Utilities – 0.4%

 

Nippon Gas Co., Ltd.

     2,900        96,035  

Saibu Gas Co., Ltd.(a)

     2,400        58,047  

Shizuoka Gas Co., Ltd.

     4,000        32,532  
     

 

 

 
Total Gas Utilities

 

     186,614  
Health Care Equipment & Supplies – 1.3%

 

Eiken Chemical Co., Ltd.(a)

     1,800        32,864  

Hogy Medical Co., Ltd.

     1,600        49,873  

Jeol Ltd.

     1,200        29,312  

Mani, Inc.

     2,200        53,984  

Menicon Co., Ltd.

     700        31,286  

Nagaileben Co., Ltd.

     2,200        54,065  

Nakanishi, Inc.

     3,800      50,512  

Nihon Kohden Corp.

     2,400        90,260  

Nipro Corp.

     9,723        114,473  

Paramount Bed Holdings Co., Ltd.

     1,703        70,593  
     

 

 

 
Total Health Care Equipment & Supplies

 

     577,222  
Health Care Providers & Services – 1.4%

 

As One Corp.(a)

     800        70,548  

BML, Inc.

     1,500        40,378  

Japan Lifeline Co., Ltd.(a)

     3,400        42,896  

Miraca Holdings, Inc.(a)

     6,500        137,159  

NichiiGakkan Co., Ltd.

     4,400        42,143  

Ship Healthcare Holdings, Inc.

     1,959        80,298  

Solasto Corp.(a)

     4,600        42,781  

Toho Holdings Co., Ltd.

     2,600        54,599  

Tokai Corp.

     1,100        29,926  

Tsukui Corp.

     3,200        12,242  

Vital KSK Holdings, Inc.(a)

     4,000        40,646  

WIN-Partners Co., Ltd.

     2,500        22,695  
     

 

 

 
Total Health Care Providers & Services

 

     616,311  
Health Care Technology – 0.1%

 

EM Systems Co., Ltd.

     2,800        23,395  
Hotels, Restaurants & Leisure – 1.8%

 

Aeon Fantasy Co., Ltd.(a)

     900        12,138  

Arcland Service Holdings Co., Ltd.

     1,000        13,404  

Create Restaurants Holdings, Inc.(a)

     5,000        29,225  

Doutor Nichires Holdings Co., Ltd.

     1,700        25,810  

Fuji Kyuko Co., Ltd.

     600        15,490  

Hiday Hidaka Corp.

     1,622        22,853  

HIS Co., Ltd.(a)

     1,800        23,560  

Ichibanya Co., Ltd.

     1,400        58,034  

Kisoji Co., Ltd.(a)

     700        15,562  

KOMEDA Holdings Co., Ltd.(a)

     2,700        41,567  

Koshidaka Holdings Co., Ltd.

     1,500        5,099  

Kura Sushi, Inc.

     400        14,932  

Kyoritsu Maintenance Co., Ltd.

     800        17,667  

MOS Food Services, Inc.(a)

     1,000        23,213  

Ohsho Food Service Corp.

     1,100        58,895  

Plenus Co., Ltd.(a)

     3,500        59,784  

Renaissance, Inc.

     1,400        13,059  

Resorttrust, Inc.

     7,200        70,429  

Round One Corp.

     3,300        17,179  

Royal Holdings Co., Ltd.(a)

     800        13,035  

Saizeriya Co., Ltd.

     1,000        18,980  

SFP Holdings Co., Ltd.

     900        11,538  

St. Marc Holdings Co., Ltd.

     1,300        20,857  

Sushiro Global Holdings Ltd.

     3,200        47,160  

Tokyo Dome Corp.(a)

     3,800        25,485  

Tokyotokeiba Co., Ltd.

     1,000        25,891  

Yoshinoya Holdings Co., Ltd.(a)

     1,700        32,770  

Zensho Holdings Co., Ltd.(a)

     3,100        59,183  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     792,799  

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Household Durables – 4.2%

 

Casio Computer Co., Ltd.

     22,100      $ 310,552  

Cleanup Corp.

     4,700        23,292  

ES-Con Japan Ltd.

     8,200        45,271  

First Juken Co., Ltd.

     2,000        18,304  

FJ Next Co., Ltd.(a)

     3,000        22,732  

Fujitsu General Ltd.

     4,500        81,409  

Haseko Corp.

     54,500        584,100  

Hinokiya Group Co., Ltd.

     1,400        19,012  

Hoosiers Holdings(a)

     5,900        32,627  

JVCKenwood Corp.

     11,900        21,495  

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

     2,300        24,011  

LEC, Inc.

     1,400        14,071  

Meiwa Estate Co., Ltd.

     4,000        17,748  

Nihon House Holdings Co., Ltd.

     8,500        23,070  

Pressance Corp.(a)

     3,900        34,428  

Sanei Architecture Planning Co., Ltd.(a)

     1,900        20,926  

Sangetsu Corp.

     4,400        65,416  

Space Value Holdings Co., Ltd.

     7,300        25,223  

Starts Corp., Inc.

     3,600        66,861  

Sumitomo Forestry Co., Ltd.

     14,400        184,744  

Tama Home Co., Ltd.

     2,400        27,145  

Tamron Co., Ltd.

     2,000        33,588  

Toa Corp.

     2,000        14,914  

Token Corp.

     1,100        81,413  

Zojirushi Corp.(a)

     4,400        60,362  
     

 

 

 
Total Household Durables

 

     1,852,714  
Household Products – 0.2%

 

Earth Corp.

     1,200        63,693  

ST Corp.

     1,200        17,796  
     

 

 

 
Total Household Products

 

     81,489  
Independent Power & Renewable Electricity Producers – 0.1%

 

West Holdings Corp.(a)

     2,600        33,766  
Industrial Conglomerates – 0.4%

 

Mie Kotsu Group Holdings, Inc.(a)

     4,600        21,689  

Nisshinbo Holdings, Inc.

     13,800        92,166  

TOKAI Holdings Corp.

     10,000        86,795  
     

 

 

 
Total Industrial Conglomerates

 

     200,650  
Interactive Media & Services – 0.6%

 

Dip Corp.

     4,400        70,837  

LIFULL Co., Ltd.

     2,600        7,322  

Mixi, Inc.

     10,500        152,605  

MTI Ltd.

     3,800        19,219  
     

 

 

 
Total Interactive Media & Services

 

     249,983  
Internet & Direct Marketing Retail – 0.2%

 

ASKUL Corp.

     1,900        56,320  

Belluna Co., Ltd.

     5,300        23,614  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     79,934  
IT Services – 1.9%

 

Comture Corp.(a)

     900      18,341  

Digital Garage, Inc.

     1,000        32,004  

DTS Corp.

     2,900        50,503  

Future Corp.(a)

     2,100        27,175  

GMO Internet, Inc.

     4,600        77,380  

Ines Corp.

     2,000        25,085  

Infocom Corp.

     1,300        29,708  

Information Services International-Dentsu Ltd.

     1,600        58,172  

JBCC Holdings, Inc.

     1,700        26,377  

Kanematsu Electronics Ltd.

     2,500        78,737  

Mitsubishi Research Institute, Inc.

     1,100        33,523  

NEC Networks & System Integration Corp.

     3,500        142,652  

NET One Systems Co., Ltd.(a)

     2,600        54,141  

NS Solutions Corp.

     3,900        95,084  

NSD Co., Ltd.

     4,700        62,693  

Transcosmos, Inc.

     1,800        31,913  

Wellnet Corp.(a)

     3,200        13,991  
     

 

 

 
Total IT Services

 

     857,479  
Leisure Products – 0.6%

 

Daikoku Denki Co., Ltd.

     1,800        20,475  

Furyu Corp.

     2,300        17,555  

GLOBERIDE, Inc.

     700        12,132  

Heiwa Corp.(a)

     8,900        166,615  

Mizuno Corp.

     1,300        22,531  

Tomy Co., Ltd.

     4,300        30,352  
     

 

 

 
Total Leisure Products

 

     269,660  
Life Sciences Tools & Services – 0.0%

 

EPS Holdings, Inc.

     2,000        20,916  
Machinery – 6.4%

 

Aichi Corp.(a)

     6,100        38,706  

Aida Engineering Ltd.

     6,000        38,405  

Alinco, Inc.

     2,000        17,248  

Anest Iwata Corp.

     2,400        22,143  

Bando Chemical Industries Ltd.

     4,600        26,802  

CKD Corp.

     4,100        56,209  

DMG Mori Co., Ltd.(a)

     8,800        73,527  

Ebara Corp.

     4,500        85,744  

Fujitec Co., Ltd.

     5,900        76,022  

Furukawa Co., Ltd.

     3,300        32,402  

Giken Ltd.(a)

     1,200        39,294  

Glory Ltd.

     3,300        76,115  

Harmonic Drive Systems, Inc.(a)

     2,000        87,536  

Hirata Corp.

     500        21,328  

Hitachi Zosen Corp.

     12,135        39,118  

Hokuetsu Industries Co., Ltd.

     2,300        23,074  

Iwaki Co., Ltd.

     1,500        11,922  

Japan Steel Works Ltd. (The)

     5,103        61,829  

Juki Corp.

     2,300        11,739  

Kato Works Co., Ltd.

     1,300        14,234  

Kito Corp.

     1,900        17,547  

Kitz Corp.

     6,500        39,317  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Kurita Water Industries Ltd.

     5,100      $ 118,010  

Kyokuto Kaihatsu Kogyo Co., Ltd.

     2,900        31,779  

Makino Milling Machine Co., Ltd.

     1,500        39,642  

Max Co., Ltd.

     3,300        50,896  

Meidensha Corp.

     2,800        42,069  

METAWATER Co., Ltd.

     1,200        42,962  

Mitsubishi Logisnext Co., Ltd.(a)

     2,000        16,192  

Mitsuboshi Belting Ltd.

     2,500        28,276  

Morita Holdings Corp.

     2,000        30,809  

Nabtesco Corp.

     6,800        157,158  

Nachi-Fujikoshi Corp.

     1,200        32,469  

Nikkiso Co., Ltd.

     2,200        16,425  

Nippon Thompson Co., Ltd.

     5,900        20,167  

Nissei ASB Machine Co., Ltd.

     700        20,360  

Nissei Plastic Industrial Co., Ltd.(a)

     2,000        17,137  

Nitta Corp.

     1,400        27,428  

Nitto Kohki Co., Ltd.

     1,500        23,718  

Noritake Co., Ltd.

     700        22,306  

NS Tool Co., Ltd.

     700        15,783  

NTN Corp.(a)

     54,600        95,590  

Obara Group, Inc.

     1,100        23,640  

Oiles Corp.(a)

     2,500        31,680  

OKUMA Corp.(a)

     1,800        58,108  

Organo Corp.

     600        30,457  

OSG Corp.

     4,600        61,657  

Pegasus Sewing Machine Manufacturing Co., Ltd.

     3,300        10,791  

Rheon Automatic Machinery Co., Ltd.

     1,000        11,051  

Ryobi Ltd.

     2,200        27,043  

Shibuya Corp.

     1,300        30,611  

Shima Seiki Manufacturing Ltd.

     1,200        15,884  

Shinmaywa Industries Ltd.

     7,300        76,141  

Shinwa Co., Ltd.

     2,300        15,595  

Sodick Co., Ltd.(a)

     3,100        18,608  

Star Micronics Co., Ltd.

     4,200        42,445  

Tadano Ltd.(a)

     6,400        45,886  

Takeuchi Manufacturing Co., Ltd.

     2,700        33,714  

Takuma Co., Ltd.

     2,900        32,289  

THK Co., Ltd.

     10,100        206,949  

Tocalo Co., Ltd.

     5,600        52,859  

Torishima Pump Manufacturing Co., Ltd.

     2,200        15,569  

Toshiba Machine Co., Ltd.(a)

     2,000        39,757  

Tsubaki Nakashima Co., Ltd.

     4,000        25,047  

Tsubakimoto Chain Co.

     2,800        63,804  

Tsugami Corp.(a)

     3,300        23,049  

Union Tool Co.

     1,100        25,810  

YAMABIKO Corp.

     4,300        32,343  

Yushin Precision Equipment Co., Ltd.

     1,700        10,598  
     

 

 

 
Total Machinery

 

     2,820,822  
Marine – 0.5%

 

Iino Kaiun Kaisha Ltd.(a)

     10,300        29,577  

Japan Transcity Corp.

     300        1,295  

Mitsui OSK Lines Ltd.

     5,000        80,914  

Nippon Yusen K.K.(a)

     4,700        55,988  

NS United Kaiun Kaisha Ltd.

     2,800        35,974  
     

 

 

 
Total Marine

 

     203,748  
Media – 0.7%

 

AOI TYO Holdings, Inc.

     2,800      11,205  

F@N Communications, Inc.

     6,700        25,756  

Gakken Holdings Co., Ltd.

     1,600        27,359  

Intage Holdings, Inc.

     2,600        19,315  

SKY Perfect JSAT Holdings, Inc.

     36,900        131,255  

Tow Co., Ltd.(a)

     4,000        10,041  

Tv Tokyo Holdings Corp.(a)

     1,400        31,176  

ValueCommerce Co., Ltd.

     700        11,542  

Wowow, Inc.

     1,900        42,240  

Zenrin Co., Ltd.

     1,500        14,687  
     

 

 

 
Total Media

 

     324,576  
Metals & Mining – 1.8%

 

Asahi Holdings, Inc.

     5,500        115,293  

Daido Steel Co., Ltd.(a)

     3,400        109,601  

Daiki Aluminium Industry Co., Ltd.

     4,600        24,629  

Dowa Holdings Co., Ltd.

     4,200        110,063  

Godo Steel Ltd.

     1,700        33,101  

Kyoei Steel Ltd.

     2,600        30,033  

Mitsui Mining & Smelting Co., Ltd.(a)

     4,100        68,628  

Nippon Light Metal Holdings Co., Ltd.

     58,800        92,049  

Nippon Yakin Kogyo Co., Ltd.

     1,370        21,358  

Pacific Metals Co., Ltd.(a)

     1,600        23,269  

Sanyo Special Steel Co., Ltd.(a)

     3,700        33,177  

Toho Titanium Co., Ltd.

     2,300        13,784  

Tokyo Rope Manufacturing Co., Ltd.

     1,700        9,716  

Tokyo Steel Manufacturing Co., Ltd.

     5,900        36,945  

Topy Industries Ltd.

     2,600        33,140  

UACJ Corp.

     4,153        59,743  
     

 

 

 
Total Metals & Mining

 

     814,529  
Multiline Retail – 1.2%

 

H2O Retailing Corp.

     9,600        70,340  

Izumi Co., Ltd.

     3,200        88,333  

J. Front Retailing Co., Ltd.

     20,600        171,357  

Seria Co., Ltd.

     3,700        107,105  

Takashimaya Co., Ltd.

     9,300        83,821  
     

 

 

 
Total Multiline Retail

 

     520,956  
Oil, Gas & Consumable Fuels – 0.9%

 

Cosmo Energy Holdings Co., Ltd.

     7,900        111,305  

Fuji Oil Co., Ltd.

     9,600        16,807  

Itochu Enex Co., Ltd.

     13,100        102,417  

Iwatani Corp.(a)

     2,300        76,912  

Sala Corp.

     6,200        31,989  

San-Ai Oil Co., Ltd.

     4,900        51,244  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     390,674  
Paper & Forest Products – 0.4%

 

Daiken Corp.

     2,100        32,991  

Daio Paper Corp.(a)

     3,300        44,416  

Hokuetsu Corp.

     11,600        43,411  

Nippon Paper Industries Co., Ltd.(a)

     4,600        65,577  
     

 

 

 
Total Paper & Forest Products

 

     186,395  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Personal Products – 0.6%

 

Artnature, Inc.

     4,100      $ 24,420  

Mandom Corp.

     2,700        51,797  

Milbon Co., Ltd.

     900        45,436  

Noevir Holdings Co., Ltd.

     2,600        132,944  
     

 

 

 
Total Personal Products

 

     254,597  
Pharmaceuticals – 1.9%

 

JCR Pharmaceuticals Co., Ltd.

     400        34,903  

Kaken Pharmaceutical Co., Ltd.

     3,500        163,077  

KYORIN Holdings, Inc.

     5,700        116,054  

Mochida Pharmaceutical Co., Ltd.

     1,900        73,392  

Nichi-iko Pharmaceutical Co., Ltd.

     4,200        55,518  

Sawai Pharmaceutical Co., Ltd.

     2,500        133,620  

Seikagaku Corp.

     3,300        34,481  

Torii Pharmaceutical Co., Ltd.

     1,400        35,002  

Towa Pharmaceutical Co., Ltd.

     1,700        35,699  

Tsumura & Co.

     3,900        99,419  

ZERIA Pharmaceutical Co., Ltd.(a)

     2,200        42,551  
     

 

 

 
Total Pharmaceuticals

 

     823,716  
Professional Services – 1.5%

 

Altech Corp.

     2,350        31,738  

BayCurrent Consulting, Inc.

     500        23,436  

Benefit One, Inc.(a)

     4,700        61,387  

BeNEXT Group, Inc.

     1,500        7,100  

en-japan, Inc.

     1,600        29,968  

FULLCAST Holdings Co., Ltd.

     1,300        14,884  

Funai Soken Holdings, Inc.

     1,740        34,605  

IR Japan Holdings Ltd.

     500        26,863  

JAC Recruitment Co., Ltd.

     2,400        22,587  

Link And Motivation, Inc.(a)

     2,800        7,937  

Meitec Corp.

     2,300        91,612  

Nomura Co., Ltd.

     5,100        38,738  

Outsourcing, Inc.

     4,300        18,721  

Quick Co., Ltd.

     1,500        13,672  

Space Co., Ltd.(a)

     3,000        30,318  

Tanseisha Co., Ltd.

     3,300        22,254  

TechnoPro Holdings, Inc.

     1,700        79,839  

UT Group Co., Ltd.

     900        9,254  

Weathernews, Inc.

     900        29,471  

World Holdings Co., Ltd.(a)

     1,900        21,630  

YAMADA Consulting Group Co., Ltd.

     1,100        9,711  

Yumeshin Holdings Co., Ltd.(a)

     7,900        41,565  
     

 

 

 
Total Professional Services

 

     667,290  
Real Estate Management & Development – 2.7%

 

Daibiru Corp.

     5,900        48,750  

Dear Life Co., Ltd.

     6,500        23,362  

Goldcrest Co., Ltd.

     2,900        43,626  

Grandy House Corp.(a)

     3,100        10,309  

Heiwa Real Estate Co., Ltd.

     2,100        54,448  

Ichigo, Inc.

     27,400        63,452  

Japan Property Management Center Co., Ltd.

     2,000        19,730  

Katitas Co., Ltd.(a)

     2,400        38,572  

Keihanshin Building Co., Ltd.

     3,100      38,364  

Kenedix, Inc.

     8,000        30,383  

Mugen Estate Co., Ltd.(a)

     3,900        15,173  

Nippon Commercial Development Co., Ltd.

     1,800        22,309  

Open House Co., Ltd.

     6,800        140,151  

Raysum Co., Ltd.(a)

     5,600        34,236  

SAMTY Co., Ltd.

     4,600        51,260  

Shinoken Group Co., Ltd.(a)

     3,800        26,576  

Star Mica Holdings Co., Ltd.

     1,000        13,626  

Sun Frontier Fudousan Co., Ltd.(a)

     4,800        36,460  

Takara Leben Co., Ltd.

     12,400        40,087  

TOC Co., Ltd.

     3,500        19,031  

Tokyo Tatemono Co., Ltd.

     16,100        171,059  

Tosei Corp.

     4,200        36,221  

Unizo Holdings Co., Ltd.

     3,900        215,673  
     

 

 

 
Total Real Estate Management & Development

 

     1,192,858  
Road & Rail – 1.4%

 

Fukuyama Transporting Co., Ltd.

     1,900        68,024  

Hamakyorex Co., Ltd.

     700        17,066  

Ichinen Holdings Co., Ltd.(a)

     2,400        25,522  

Maruzen Showa Unyu Co., Ltd.

     1,200        26,556  

Nankai Electric Railway Co., Ltd.

     2,600        59,247  

Nikkon Holdings Co., Ltd.

     3,700        72,557  

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

     2,400        59,069  

Sakai Moving Service Co., Ltd.(a)

     500        26,585  

Seino Holdings Co., Ltd.

     9,800        106,483  

Senko Group Holdings Co., Ltd.

     10,200        79,177  

Sotetsu Holdings, Inc.(a)

     3,400        87,335  
     

 

 

 
Total Road & Rail

 

     627,621  
Semiconductors & Semiconductor Equipment – 1.8%

 

Ferrotec Holdings Corp.

     2,900        14,855  

Japan Material Co., Ltd.

     2,600        34,175  

Lasertec Corp.

     2,400        112,491  

Micronics Japan Co., Ltd.(a)

     1,700        12,299  

Mimasu Semiconductor Industry Co., Ltd.

     2,000        32,773  

Optorun Co., Ltd.

     2,700        64,327  

SCREEN Holdings Co., Ltd.(a)

     3,100        114,863  

Shibaura Mechatronics Corp.

     800        17,659  

Shindengen Electric Manufacturing Co., Ltd.

     1,100        23,731  

Shinko Electric Industries Co., Ltd.

     9,200        88,289  

Tokyo Seimitsu Co., Ltd.

     5,100        145,505  

Ulvac, Inc.

     3,800        91,168  

Yamaichi Electronics Co., Ltd.

     2,300        29,529  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     781,664  
Software – 0.5%

 

Broadleaf Co., Ltd.

     5,900        25,687  

Computer Engineering & Consulting Ltd.

     1,200        15,229  

Fuji Soft, Inc.

     700        22,532  

Fukui Computer Holdings, Inc.

     800        16,110  

Infomart Corp.

     3,000        19,758  

Miroku Jyoho Service Co., Ltd.(a)

     900        19,850  

SRA Holdings

     1,700        33,652  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Systena Corp.

     3,000      $ 40,739  

UNITED, Inc.

     3,100        23,059  
     

 

 

 
Total Software

 

     216,616  
Specialty Retail – 4.3%

 

Adastria Co., Ltd.

     2,522        28,595  

Alpen Co., Ltd.

     2,800        41,628  

AOKI Holdings, Inc.

     10,900        73,303  

Aoyama Trading Co., Ltd.(a)

     5,500        47,279  

Arcland Sakamoto Co., Ltd.

     2,800        25,288  

Autobacs Seven Co., Ltd.

     6,900        79,639  

Bic Camera, Inc.

     10,100        81,863  

Chiyoda Co., Ltd.

     3,800        40,973  

DCM Holdings Co., Ltd.(a)

     9,400        86,812  

EDION Corp.(a)

     8,700        71,966  

Geo Holdings Corp.

     3,400        41,195  

Honeys Holdings Co., Ltd.

     1,700        17,070  

IDOM, Inc.

     10,900        39,680  

JINS Holdings, Inc.

     500        27,465  

Joshin Denki Co., Ltd.

     1,600        30,798  

Joyful Honda Co., Ltd.(a)

     5,600        64,634  

K’s Holdings Corp.(a)

     16,868        159,844  

Keiyo Co., Ltd.

     4,600        21,050  

Kohnan Shoji Co., Ltd.

     2,300        46,616  

Komeri Co., Ltd.

     2,500        44,834  

Konaka Co., Ltd.

     8,100        21,984  

LIXIL VIVA Corp.

     4,800        81,634  

Nishimatsuya Chain Co., Ltd.

     4,100        28,332  

Nojima Corp.

     2,300        37,987  

PAL GROUP Holdings Co., Ltd.

     3,000        36,543  

Sac’s Bar Holdings, Inc.

     2,700        15,331  

Sanrio Co., Ltd.(a)

     2,657        35,368  

Shimachu Co., Ltd.(a)

     4,000        98,634  

Shimamura Co., Ltd.

     2,400        144,949  

T-Gaia Corp.

     7,600        144,179  

United Arrows Ltd.

     1,700        25,589  

VT Holdings Co., Ltd.

     13,154        35,701  

World Co., Ltd.

     2,000        27,919  

Xebio Holdings Co., Ltd.

     3,800        31,398  

Yellow Hat Ltd.

     3,200        44,552  
     

 

 

 
Total Specialty Retail

 

     1,880,632  
Technology Hardware, Storage & Peripherals – 0.7%

 

Elecom Co., Ltd.

     1,800        62,776  

Maxell Holdings Ltd.(a)

     2,600        25,626  

MCJ Co., Ltd.(a)

     7,600        42,099  

Riso Kagaku Corp.

     3,300        49,918  

Roland DG Corp.

     900        9,712  

Toshiba TEC Corp.

     2,600        81,886  

Wacom Co., Ltd.

     7,600        22,387  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     294,404  
Textiles, Apparel & Luxury Goods – 1.6%

 

Asics Corp.

     9,600        88,837  

Baroque Japan Ltd.(a)

     4,400        25,555  

Descente Ltd.(a)

     2,700      31,763  

Fujibo Holdings, Inc.

     1,400        37,401  

Goldwin, Inc.(a)

     700        39,035  

Gunze Ltd.

     1,100        36,988  

Japan Wool Textile Co., Ltd. (The)

     5,800        50,395  

Kurabo Industries Ltd.(a)

     1,800        43,168  

Morito Co., Ltd.(a)

     2,800        19,115  

Onward Holdings Co., Ltd.

     15,839        69,691  

Seiko Holdings Corp.

     3,700        59,773  

Seiren Co., Ltd.

     3,900        46,964  

Wacoal Holdings Corp.

     4,500        97,833  

Yondoshi Holdings, Inc.(a)

     2,200        39,596  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     686,114  
Thrifts & Mortgage Finance – 0.1%

 

Aruhi Corp.(a)

     2,100        23,829  
Trading Companies & Distributors – 2.3%

 

Advan Co., Ltd.

     3,300        33,289  

Alconix Corp.

     2,000        19,990  

Gecoss Corp.

     3,400        24,692  

Hanwa Co., Ltd.

     4,600        71,671  

Inaba Denki Sangyo Co., Ltd.

     3,900        83,162  

Inabata & Co., Ltd.

     4,700        51,373  

Kanaden Corp.

     2,400        27,834  

Kanamoto Co., Ltd.

     1,800        35,065  

Kanematsu Corp.

     8,700        89,373  

Kokusai Pulp & Paper Co., Ltd.(a)

     7,600        17,952  

Mitsui Matsushima Holdings Co., Ltd.

     1,500        12,213  

Nagase & Co., Ltd.

     7,000        82,933  

Nichiden Corp.

     2,200        43,305  

Nippon Steel Trading Corp.

     3,496        118,201  

Nishio Rent All Co., Ltd.

     1,500        31,499  

Onoken Co., Ltd.

     3,100        32,592  

Sanyo Trading Co., Ltd.

     2,300        17,598  

Trusco Nakayama Corp.

     2,300        49,897  

Wakita & Co., Ltd.

     3,900        35,693  

Yamazen Corp.

     7,500        62,595  

Yuasa Trading Co., Ltd.

     2,400        63,538  
     

 

 

 
Total Trading Companies & Distributors

 

     1,004,465  
Transportation Infrastructure – 0.5%

 

Japan Airport Terminal Co., Ltd.(a)

     1,800        69,612  

Kamigumi Co., Ltd.

     4,900        82,972  

Mitsubishi Logistics Corp.(a)

     2,800        56,594  

Nissin Corp.

     1,500        22,217  
     

 

 

 
Total Transportation Infrastructure

 

     231,395  

TOTAL COMMON STOCKS

(Cost: $54,994,253)

              43,316,226  

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Table of Contents

Schedule of Investments (concluded)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2020

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 7.6%

 

United States – 7.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(b)

     
(Cost: $3,321,926)      3,321,926      $ 3,321,926  

TOTAL INVESTMENTS IN SECURITIES – 105.9%

(Cost: $58,316,179)

 

 

     46,638,152  

Other Assets less Liabilities – (5.9)%

 

     (2,588,724
     

 

 

 
NET ASSETS – 100.0%

 

   $ 44,049,428  
(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $5,813,250 and the total market value of the collateral held by the Fund was $6,160,651. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,838,725.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

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

Amount and
Description of
Currency to

be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Bank of America N.A.

    4/3/2020       1,105,458,052       JPY       10,240,236       USD     $ 61     $  

Bank of America N.A.

    4/3/2020       10,240,236       USD       1,102,648,132       JPY       25,969        

Bank of America N.A.

    5/8/2020       9,453,390       USD       1,018,975,236       JPY             (983

Citibank N.A.

    4/3/2020       1,105,396,611       JPY       10,240,236       USD             (508

Citibank N.A.

    4/3/2020       10,240,236       USD       1,102,672,708       JPY       25,741        

Citibank N.A.

    5/8/2020       9,453,390       USD       1,018,956,329       JPY             (807

Credit Suisse International

    4/3/2020       842,198,621       JPY       7,802,087       USD             (467

Credit Suisse International

    4/3/2020       10,240,236       USD       1,102,692,165       JPY       25,561        

Credit Suisse International

    5/8/2020       7,202,584       USD       776,311,069       JPY             (274

Goldman Sachs

    4/3/2020       1,105,397,635       JPY       10,240,236       USD             (499

Goldman Sachs

    4/3/2020       10,240,236       USD       1,103,369,044       JPY       19,290        

Goldman Sachs

    5/8/2020       9,453,390       USD       1,018,888,264       JPY             (176

JP Morgan Chase Bank N.A.

    4/3/2020       7,802,087       USD       840,113,904       JPY       19,778        

UBS AG

    4/3/2020       1,105,355,650       JPY       10,240,236       USD             (888

UBS AG

    5/8/2020       9,453,390       USD       1,018,754,972       JPY       1,061        
                                            $ 117,461     $ (4,602

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Table of Contents

Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2020

 

 

 

    

WisdomTree

Europe

Hedged

Equity Fund

   

WisdomTree

Europe

Hedged

SmallCap

Equity Fund

   

WisdomTree

Germany

Hedged

Equity Fund

   

WisdomTree

International

Hedged

Quality

Dividend
Growth Fund

   

WisdomTree

Japan Hedged

Equity Fund

   

WisdomTree
Japan Hedged

SmallCap

Equity Fund

 

ASSETS:

 

Investments, at cost

  $ 3,137,280,558     $ 73,717,220     $ 43,951,959     $ 630,970,053     $ 2,247,556,890     $ 58,316,179  

Investment in affiliates, at cost (Note 3)

                      2,245,332              

Foreign currency, at cost

    578,695       23,410       59,758       840,539             49,357  

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

    2,244,586,771       50,741,974       29,180,557       592,248,097       1,746,744,614       46,638,152  

Investment in affiliates, at value (Note 3)

                      1,986,206              

Cash

    963,315       6,351       218       517,204             2,849  

Foreign currency, at value

    575,639       23,289       59,741       842,957             49,417  

Unrealized appreciation on foreign currency contracts

    10,160,843       273,576       114,838       9,365,283       5,034,603       117,461  

Receivables:

           

Investment securities sold

    79,563,079       460,156       136,338       31,983,561       14,372,812       14,765  

Capital shares sold

    39,642                   1,566       398        

Dividends

    832,438       29,642             2,651,723       22,871,872       667,658  

Securities lending income

    44,496       4,537             14,105       26,387       2,918  

Foreign tax reclaims

    9,057,793       177,620       363,943       1,811,896              

Total Assets

    2,345,824,016       51,717,145       29,855,635       641,422,598       1,789,050,686       47,493,220  

LIABILITIES:

 

Due to custodian

                            531,426        

Foreign currency due to custodian, at value

                            29,463        

Unrealized depreciation on foreign currency contracts

    2,048,521       39,847       18,637       263,716       4,592,426       4,602  

Payables:

           

Cash collateral received for securities loaned (Note 2)

    55,547,044       2,223,438             10,164,287       58,045,035       3,321,926  

Investment securities purchased

    55,987,142       229,065       202,008       38,356,233             96,150  

Capital shares redeemed

    30,733,934                         15,297,206        

Advisory fees (Note 3)

    1,226,819       27,846       12,661       290,327       747,707       20,955  

Service fees (Note 2)

    9,307       211       116       2,193       6,854       159  

Total Liabilities

    145,552,767       2,520,407       233,422       49,076,756       79,250,117       3,443,792  

NET ASSETS

  $ 2,200,271,249     $ 49,196,738     $ 29,622,213     $  592,345,842     $ 1,709,800,569     $ 44,049,428  

NET ASSETS:

 

Paid-in capital

  $ 4,674,723,465     $ 85,370,847     $ 72,301,518     $ 645,747,518     $ 3,986,639,284     $ 78,431,520  

Total distributable earnings (loss)

    (2,474,452,216     (36,174,109     (42,679,305     (53,401,676     (2,276,838,715     (34,382,092

NET ASSETS

  $ 2,200,271,249     $ 49,196,738     $ 29,622,213     $ 592,345,842     $ 1,709,800,569     $ 44,049,428  

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

    42,450,000       2,100,000       1,300,000       19,350,000       40,100,000       1,300,000  

Net asset value per share

  $ 51.83     $ 23.43     $ 22.79     $ 30.61     $ 42.64     $ 33.88  

1 Includes market value of securities out on loan of:

  $ 60,986,095     $ 3,512,124           $ 16,684,708     $ 84,933,441     $ 5,813,250  

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

  

 

3 Foreign currency due to custodian, proceeds:

                          $ 29,463        

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Table of Contents

Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

    

WisdomTree

Europe

Hedged

Equity Fund

   

WisdomTree
Europe

Hedged

SmallCap

Equity Fund

   

WisdomTree

Germany

Hedged

Equity Fund

   

WisdomTree

International

Hedged

Quality

Dividend

Growth Fund

   

WisdomTree

Japan Hedged

Equity Fund

   

WisdomTree

Japan Hedged

SmallCap

Equity Fund

 

INVESTMENT INCOME:

           

Dividends1

  $ 89,407,344     $ 3,921,656     $ 1,516,407     $ 14,596,086     $ 67,712,748     $ 1,473,569  

Dividends from affiliates (Note 3)

                      32,163              

Interest

    284                                

Non-cash dividends

    7,316,032       154,373             67,131              

Securities lending income (Note 2)

    1,178,167       160,068             171,921       506,905       51,188  

Total investment income

    97,901,827       4,236,097       1,516,407       14,867,301       68,219,653       1,524,757  

EXPENSES:

           

Advisory fees (Note 3)

    19,750,880       537,408       211,684       2,970,290       12,784,816       355,417  

Service fees (Note 2)

    149,834       4,076       1,941       22,534       117,194       2,696  

Total expenses

    19,900,714       541,484       213,625       2,992,824       12,902,010       358,113  

Expense waivers (Note 3)

                      (6,247            

Net expenses

    19,900,714       541,484       213,625       2,986,577       12,902,010       358,113  

Net investment income

    78,001,113       3,694,613       1,302,782       11,880,724       55,317,643       1,166,644  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

     

Net realized gain (loss) from:

           

Investment transactions

    (156,147,689     (3,654,845     (2,732,894     (37,323,852     (128,832,071     (4,182,158

In-kind redemptions

    30,307,311       2,000,709       232,245       1,200,849       (32,753,642     (104,603

Futures contracts

    (54,729                              

Foreign currency contracts

    220,639,021       6,177,207       2,993,654       23,039,259       (28,762,844     (997,598

Foreign currency related transactions

    (1,032,514     1,717       (33,328     (37,646     (354,644     1,047  

Net realized gain (loss)

    93,711,400       4,524,788       459,677       (13,121,390     (190,703,201     (5,283,312

Net increase (decrease) in unrealized appreciation/depreciation:

           

Investment transactions

    (627,023,262     (18,384,844     (7,205,673     (42,541,628     (188,208,075     (3,126,562

Investment transactions in affiliates (Note 3)

                      (259,126            

Foreign currency contracts

    (50,370,914     (1,720,319     (753,964     4,617,567       12,857,778       427,542  

Translation of assets and liabilities denominated in foreign currencies

    (5,803     (667     5,501       54,174       149,324       3,929  

Net decrease in unrealized appreciation/depreciation

    (677,399,979     (20,105,830     (7,954,136     (38,129,013     (175,200,973     (2,695,091

Net realized and unrealized loss on investments

    (583,688,579     (15,581,042     (7,494,459     (51,250,403     (365,904,174     (7,978,403

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

  $ (505,687,466   $ (11,886,429   $ (6,191,677   $ (39,369,679   $ (310,586,531   $ (6,811,759

1 Net of foreign withholding tax of:

  $ 15,774,526     $ 616,427     $ 255,136     $ 1,396,803     $ 7,525,012     $ 163,252  

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Table of Contents

Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

    

WisdomTree Europe

Hedged Equity Fund

   

WisdomTree Europe Hedged

SmallCap Equity Fund

   

WisdomTree Germany

Hedged Equity Fund

 
    

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 78,001,113     $ 142,722,527     $ 3,694,613     $ 5,809,894     $ 1,302,782     $ 2,577,102  

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

    93,711,400       683,998,604       4,524,788       21,481,618       459,677       9,974,735  

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

    (677,399,979     (651,432,771     (20,105,830     (32,540,040     (7,954,136     (16,071,654

Net increase (decrease) in net assets resulting from operations

    (505,687,466     175,288,360       (11,886,429     (5,248,528     (6,191,677     (3,519,817

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (73,070,900     (113,154,749     (3,656,484     (3,894,030     (1,302,508     (1,590,516

Tax return of capital

          (15,257,371                       (525,501

Total distributions to shareholders

    (73,070,900     (128,412,120     (3,656,484     (3,894,030     (1,302,508     (2,116,017

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    3,557,401       29,284,459             58,132,712       1,489,195       4,431,404  

Cost of shares redeemed

    (968,886,044     (2,664,748,283     (55,930,935     (82,943,579     (15,913,474     (38,557,229

Net decrease in net assets resulting from capital share transactions

    (965,328,643     (2,635,463,824     (55,930,935     (24,810,867     (14,424,279     (34,125,825

Net Decrease in Net Assets

    (1,544,087,009     (2,588,587,584     (71,473,848     (33,953,425     (21,918,464     (39,761,659

NET ASSETS:

 

Beginning of year

  $ 3,744,358,258     $ 6,332,945,842     $ 120,670,586     $ 154,624,011     $ 51,540,677     $ 91,302,336  

End of year

  $ 2,200,271,249     $ 3,744,358,258     $ 49,196,738     $ 120,670,586     $ 29,622,213     $ 51,540,677  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    58,600,000       101,050,000       4,000,000       5,050,000       1,800,000       2,950,000  

Shares created

    50,000       450,000             1,800,000       50,000       150,000  

Shares redeemed

    (16,200,000     (42,900,000     (1,900,000     (2,850,000     (550,000     (1,300,000

Shares outstanding, end of year

    42,450,000       58,600,000       2,100,000       4,000,000       1,300,000       1,800,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Table of Contents

Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

    

WisdomTree International

Hedged Quality Dividend Growth Fund

   

WisdomTree Japan

Hedged Equity Fund

   

WisdomTree Japan Hedged

SmallCap Equity Fund

 
    

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 11,880,724     $ 9,963,497     $ 55,317,643     $ 101,026,268     $ 1,166,644     $ 1,680,948  

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

    (13,121,390     68,634,645       (190,703,201     511,695,082       (5,283,312     29,850,611  

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

    (38,129,013     (60,329,580     (175,200,973     (1,056,655,433     (2,695,091     (41,736,946

Net increase (decrease) in net assets resulting from operations

    (39,369,679     18,268,562       (310,586,531     (443,934,083     (6,811,759     (10,205,387

DISTRIBUTIONS TO SHAREHOLDERS:

 

         

Distributable earnings

    (10,573,345     (1,740,568     (69,542,586     (146,097,231     (1,374,718     (2,960,022

CAPITAL SHARE TRANSACTIONS:

 

         

Net proceeds from sale of shares

    217,335,137       86,584,594       244,142,751       569,935,610              

Cost of shares redeemed

    (13,754,073     (207,596,639     (1,408,630,036     (3,332,487,004     (30,860,738     (111,171,524

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

    203,581,064       (121,012,045     (1,164,487,285     (2,762,551,394     (30,860,738     (111,171,524

Net Increase (Decrease) in Net Assets

    153,638,040       (104,484,051     (1,544,616,402     (3,352,582,708     (39,047,215     (124,336,933

NET ASSETS:

           

Beginning of year

  $ 438,707,802     $ 543,191,853     $ 3,254,416,971     $ 6,606,999,679     $ 83,096,643     $ 207,433,576  

End of year

  $ 592,345,842     $ 438,707,802     $ 1,709,800,569     $ 3,254,416,971     $ 44,049,428     $ 83,096,643  

SHARES CREATED AND REDEEMED:

           

Shares outstanding, beginning of year

    13,650,000       17,650,000       64,550,000       118,500,000       2,100,000       4,700,000  

Shares created

    6,150,000       2,700,000       4,800,000       10,050,000              

Shares redeemed

    (450,000     (6,700,000     (29,250,000     (64,000,000     (800,000     (2,600,000

Shares outstanding, end of year

    19,350,000       13,650,000       40,100,000       64,550,000       1,300,000       2,100,000  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Table of Contents

Financial Highlights

WisdomTree Trust

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

 

 

WisdomTree Europe Hedged
Equity Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 63.90      $ 62.67      $ 62.80      $ 52.04      $ 66.16  

Investment operations:

              

Net investment income1

     1.52        1.79        1.23        1.70        1.29  

Net realized and unrealized gain (loss)

     (12.21      0.90        0.08        10.59        (10.26

Total from investment operations

     (10.69      2.69        1.31        12.29        (8.97

Dividends and distributions to shareholders:

              

Net investment income

     (1.38      (1.29      (1.44      (1.53      (1.35

Capital gains

                                 (3.80

Tax return of capital

            (0.17                     

Total dividends and distributions to shareholders

     (1.38      (1.46      (1.44      (1.53      (5.15

Net asset value, end of year

   $ 51.83      $ 63.90      $ 62.67      $ 62.80      $ 52.04  

TOTAL RETURN2

     (17.15 )%       4.33      2.03      24.20      (13.85 )% 

RATIOS/SUPPLEMENTAL DATA:

              

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

   $ 2,200,271      $ 3,744,358      $ 6,332,946      $ 9,300,174      $ 13,716,953  

Ratios to average net assets of:

              

Expenses

     0.58      0.58      0.58      0.58      0.58

Net investment income

     2.29      2.86      1.91      3.13      2.19

Portfolio turnover rate3

     26      18      20      24      29

 

           
WisdomTree Europe Hedged
SmallCap Equity Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 30.17      $ 30.62      $ 28.29      $ 23.90      $ 25.94  

Investment operations:

              

Net investment income1

     1.22        1.06        0.74        0.81        0.61  

Net realized and unrealized gain (loss)

     (6.92      (0.89      2.05        4.25        (1.57

Total from investment operations

     (5.70      0.17        2.79        5.06        (0.96

Dividends and distributions to shareholders:

              

Net investment income

     (1.04      (0.62      (0.45      (0.67      (1.02

Capital gains

                                 (0.06

Tax return of capital

                   (0.01              

Total dividends and distributions to shareholders

     (1.04      (0.62      (0.46      (0.67      (1.08

Net asset value, end of year

   $ 23.43      $ 30.17      $ 30.62      $ 28.29      $ 23.90  

TOTAL RETURN2

     (19.62 )%       0.54      9.88      21.62      (3.79 )% 

RATIOS/SUPPLEMENTAL DATA:

              

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

   $ 49,197      $ 120,671      $ 154,624      $ 155,594      $ 267,708  

Ratios to average net assets of:

              

Expenses

     0.58      0.58      0.58      0.58      0.58

Net investment income

     3.99      3.55      2.43      3.27      2.47

Portfolio turnover rate3

     49      37      37      41      39
1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period.

 

3 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree Germany Hedged Equity
Fund
  

For the

Year Ended
March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended
March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended
March 31, 2016

 

Net asset value, beginning of year

   $ 28.63      $ 30.95      $ 30.40      $ 25.54      $ 31.38  

Investment operations:

              

Net investment income1

     0.88        1.10        0.87        0.84        0.60  

Net realized and unrealized gain (loss)

     (5.87      (2.64      0.54        4.99        (5.05

Total from investment operations

     (4.99      (1.54      1.41        5.83        (4.45

Dividends and distributions to shareholders:

              

Net investment income

     (0.85      (0.59      (0.64      (0.97      (0.73

Capital gains

                                 (0.66

Tax return of capital

            (0.19      (0.22              

Total dividends and distributions to shareholders

     (0.85      (0.78      (0.86      (0.97      (1.39

Net asset value, end of year

   $ 22.79      $ 28.63      $ 30.95      $ 30.40      $ 25.54  

TOTAL RETURN2

     (18.06 )%       (5.07 )%       4.63      23.62      (14.44 )% 

RATIOS/SUPPLEMENTAL DATA:

              

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

   $ 29,622      $ 51,541      $ 91,302      $ 124,648      $ 200,501  

Ratios to average net assets of:

              

Expenses

     0.48      0.48      0.48      0.48      0.48

Net investment income

     2.95      3.66      2.78      3.14      2.18

Portfolio turnover rate3

     41      16      20      28      38

 

 

WisdomTree International Hedged
Quality Dividend Growth Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 32.14      $ 30.78      $ 28.39      $ 25.73      $ 26.99  

Investment operations:

              

Net investment income1

     0.78        0.64        0.58        0.56        0.71  

Net realized and unrealized gain (loss)

     (1.59      0.83        1.99        2.80        (1.17

Total from investment operations

     (0.81      1.47        2.57        3.36        (0.46

Dividends and distributions to shareholders:

              

Net investment income

     (0.72      (0.11      (0.18      (0.70      (0.55

Capital gains

                                 (0.25

Total dividends and distributions to shareholders

     (0.72      (0.11      (0.18      (0.70      (0.80

Net asset value, end of year

   $ 30.61      $ 32.14      $ 30.78      $ 28.39      $ 25.73  

TOTAL RETURN2

     (2.70 )%       4.78      9.05      13.26      (1.73 )% 

RATIOS/SUPPLEMENTAL DATA:

              

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

   $ 592,346      $ 438,708      $ 543,192      $ 479,727      $ 732,050  

Ratios to average net assets of:

              

Expenses

     0.58 %4,5       0.58      0.58      0.58      0.58 %6 

Net investment income

     2.32 %4       2.07      1.89      2.14      2.75

Portfolio turnover rate3

     61      56      42      53      48
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

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

 

6 

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio would have been unchanged.

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Table of Contents

Financial Highlights (concluded)

WisdomTree Trust

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

 

 

WisdomTree Japan Hedged Equity
Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 50.42      $ 55.76      $ 50.40      $ 43.85      $ 55.03  

Investment operations:

              

Net investment income1

     1.05        1.06        0.92        0.86        0.80  

Net realized and unrealized gain (loss)

     (7.52      (5.03      5.81        6.67        (9.00

Total from investment operations

     (6.47      (3.97      6.73        7.53        (8.20

Dividends and distributions to shareholders:

              

Net investment income

     (1.31      (1.37      (1.37      (0.98      (0.76

Capital gains

                                 (2.22

Total dividends and distributions to shareholders

     (1.31      (1.37      (1.37      (0.98      (2.98

Net asset value, end of year

   $ 42.64      $ 50.42      $ 55.76      $ 50.40      $ 43.85  

TOTAL RETURN2

     (13.26 )%       (7.20 )%       13.45      17.45      (15.64 )% 

RATIOS/SUPPLEMENTAL DATA:

              

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

   $ 1,709,801      $ 3,254,417      $ 6,607,000      $ 8,411,670      $ 9,737,132  

Ratios to average net assets of:

              

Expenses

     0.48      0.48      0.48      0.48      0.48

Net investment income

     2.08      1.96      1.67      1.91      1.52

Portfolio turnover rate3

     20      23      18      37      27

 

 

WisdomTree Japan Hedged SmallCap
Equity Fund
  

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended
March 31, 2018

    

For the

Year Ended

March 31, 2017

    

For the

Year Ended

March 31, 2016

 

Net asset value, beginning of year

   $ 39.57      $ 44.13      $ 37.28      $ 31.24      $ 33.65  

Investment operations:

              

Net investment income1

     0.75        0.51        0.64        0.70        0.41  

Net realized and unrealized gain (loss)

     (5.52      (4.31      6.91        5.94        (1.59

Total from investment operations

     (4.77      (3.80      7.55        6.64        (1.18

Dividends and distributions to shareholders:

              

Net investment income

     (0.92      (0.76      (0.70      (0.60      (0.35

Capital gains

                                 (0.88

Total dividends and distributions to shareholders

     (0.92      (0.76      (0.70      (0.60      (1.23

Net asset value, end of year

   $ 33.88      $ 39.57      $ 44.13      $ 37.28      $ 31.24  

TOTAL RETURN2

     (12.41 )%       (8.77 )%       20.42      21.64      (3.83 )%4 

RATIOS/SUPPLEMENTAL DATA:

              

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

   $ 44,049      $ 83,097      $ 207,434      $ 115,561      $ 90,584  

Ratios to average net assets of:

              

Expenses

     0.58      0.58      0.58      0.58      0.58

Net investment income

     1.90      1.20      1.51      2.11      1.20

Portfolio turnover rate3

     36      38      30      48      45
1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period.

 

3 

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

 

4 

Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been 0.95% lower.

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Table of Contents

Notes to Financial Statements

 

1. ORGANIZATION

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

 

   
Fund    Commencement
of Operations
 

WisdomTree Europe Hedged Equity Fund (“Europe Hedged Equity Fund’’)

     December 31, 2009  

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

     March 4, 2015  

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

     October 17, 2013  

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

     May 7, 2014  

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

     June 16, 2006  

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

     June 28, 2013  

Each Fund seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree Investments, Inc. (“WisdomTree Investments’’). WisdomTree Investments is the parent company of WisdomTree Asset Management, Inc. (‘‘WTAM’’), the investment adviser to each Fund and the Trust. “WisdomTree” is a registered trademark of WisdomTree Investments and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act.

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

2. SIGNIFICANT ACCOUNTING POLICIES

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

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

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

Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g. broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last quoted sale price or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Foreign currency contracts are valued daily using WM/Reuters closing spot and forward rates as of 4:00 p.m. London time.

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

 

54   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

quarterly basis. In the event that a financial instrument cannot be valued based upon a price from a national securities exchange, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Pricing Committee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.

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

Level 1 – quoted prices in active markets for identical securities

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

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)

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

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

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

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

Determination of a fair value by the Pricing Committee may include significant unobservable inputs and therefore such financial instruments would be reflected as a Level 3 of the fair value hierarchy. The Pricing Committee may employ a market-based valuation

 

WisdomTree Trust      55  


Table of Contents

Notes to Financial Statements (continued)

 

approach which may use, among other potential considerations, related or comparable securities, recent transactions, market multiples, and other relevant information to determine fair value. The Pricing Committee may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value.

The following is a summary of the fair valuations according to the inputs used as of March 31, 2020 in valuing each Fund’s assets:

 

       
Europe Hedged Equity Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 2,189,039,727      $      $         —  

Investment of Cash Collateral for Securities Loaned

            55,547,044         

Total

   $ 2,189,039,727      $ 55,547,044      $  

Unrealized Appreciation on Foreign Currency Contracts

            10,160,843         

Unrealized Depreciation on Foreign Currency Contracts

            (2,048,521       

Total - Net

   $ 2,189,039,727      $ 63,659,366      $  
        
       
Europe Hedged SmallCap Equity Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 48,518,536      $      $  

Investment of Cash Collateral for Securities Loaned

            2,223,438         

Total

   $ 48,518,536      $ 2,223,438      $         —  

Unrealized Appreciation on Foreign Currency Contracts

            273,576         

Unrealized Depreciation on Foreign Currency Contracts

            (39,847       

Total - Net

   $ 48,518,536      $ 2,457,167      $         —  
        
       
Germany Hedged Equity Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 29,180,557      $      $  

Total

   $ 29,180,557      $      $  

Unrealized Appreciation on Foreign Currency Contracts

            114,838         

Unrealized Depreciation on Foreign Currency Contracts

            (18,637       

Total - Net

   $ 29,180,557      $ 96,201      $  
        
       
International Hedged Quality Dividend Growth Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Australia

   $ 19,531,432      $ 169,093      $ 46,654 ** 

United Kingdom

     124,005,319               4 ** 

Other*

     438,331,308                

Exchange-Traded Fund

     1,986,206                

Investment of Cash Collateral for Securities Loaned

            10,164,287         

Total

   $ 583,854,265      $ 10,333,380      $ 46,658  

Unrealized Appreciation on Foreign Currency Contracts

            9,365,283         

Unrealized Depreciation on Foreign Currency Contracts

            (263,716       

Total - Net

   $ 583,854,265      $ 19,434,947      $ 46,658  
        
       
Japan Hedged Equity Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 1,688,699,579      $      $  

Investment of Cash Collateral for Securities Loaned

            58,045,035         

Total

   $ 1,688,699,579      $ 58,045,035      $  

Unrealized Appreciation on Foreign Currency Contracts

            5,034,603         

Unrealized Depreciation on Foreign Currency Contracts

            (4,592,426       

Total - Net

   $ 1,688,699,579      $ 58,487,212      $         —  

 

56   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

       
Japan Hedged SmallCap Equity Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 43,316,226      $      $         —  

Investment of Cash Collateral for Securities Loaned

            3,321,926         

Total

   $ 43,316,226      $ 3,321,926      $  

Unrealized Appreciation on Foreign Currency Contracts

            117,461         

Unrealized Depreciation on Foreign Currency Contracts

            (4,602       

Total - Net

   $ 43,316,226      $ 3,434,785      $         —  
  *

Please refer to the Schedule of Investments for a breakdown of the valuation by industry type and/or country.

  **

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

During the fiscal year ended March 31, 2020, there were no significant transfers into or out of Level 3 of the fair value hierarchy.

Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in derivatives, specifically foreign currency contracts and equity futures contracts during the year ended March 31, 2020 and open positions in such derivatives as of March 31, 2020 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to risk. Risks may arise upon entering into foreign currency contracts from potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar or each other. The Funds’ derivative agreements also contain credit-risk related contingent features which include, but are not limited to, a percentage decline in the Funds’ NAV over a specified time period. If an event occurred at March 31, 2020 that triggered a contingent feature, the counterparty to the agreement may require the Funds to post additional collateral or terminate the derivative positions and demand payment. Any collateral posted with respect to the derivative positions would be used to offset or reduce the payment. The maximum exposure to derivatives agreements with credit-risk related contingent features would be the total value of derivatives in net liability positions for each Fund, as disclosed on page 61. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of March 31, 2020, if any, is reflected as a footnote below the respective derivatives tables on each Fund’s Schedule of Investments.

As of March 31, 2020, the effects of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are presented in the summary below:

 

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

Europe Hedged Equity Fund

 

Foreign exchange contracts

  

Unrealized appreciation on

foreign currency contracts

   $ 10,160,843     

Unrealized depreciation on

foreign currency contracts

   $ 2,048,521  

Europe Hedged SmallCap Equity Fund

 

Foreign exchange contracts

  

Unrealized appreciation on

foreign currency contracts

     273,576     

Unrealized depreciation on

foreign currency contracts

     39,847  

Germany Hedged Equity Fund

 

Foreign exchange contracts

  

Unrealized appreciation on

foreign currency contracts

     114,838     

Unrealized depreciation on

foreign currency contracts

     18,637  

International Hedged Quality Dividend Growth Fund

 

Foreign exchange contracts

  

Unrealized appreciation on

foreign currency contracts

     9,365,283     

Unrealized depreciation on

foreign currency contracts

     263,716  

Japan Hedged Equity Fund

 

Foreign exchange contracts

  

Unrealized appreciation on

foreign currency contracts

     5,034,603     

Unrealized depreciation on

foreign currency contracts

     4,592,426  

Japan Hedged SmallCap Equity Fund

 

Foreign exchange contracts

  

Unrealized appreciation on

foreign currency contracts

     117,461     

Unrealized depreciation on

foreign currency contracts

     4,602  

 

WisdomTree Trust      57  


Table of Contents

Notes to Financial Statements (continued)

 

For the fiscal year ended March 31, 2020, the effects of derivative instruments on each Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

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

Europe Hedged Equity Fund

     

Foreign exchange contracts

   $ 220,639,021      $ (50,370,914

Equity contracts

     (54,729       

Europe Hedged SmallCap Equity Fund

     

Foreign exchange contracts

     6,177,207        (1,720,319

Germany Hedged Equity Fund

     

Foreign exchange contracts

     2,993,654        (753,964

International Hedged Quality Dividend Growth Fund

     

Foreign exchange contracts

     23,039,259        4,617,567  

Japan Hedged Equity Fund

     

Foreign exchange contracts

     (28,762,844      12,857,778  

Japan Hedged SmallCap Equity Fund

     

Foreign exchange contracts

     (997,598      427,542  

 

  1 

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

 

Foreign exchange contracts

   Net realized gain (loss) from foreign currency contracts

Equity contracts

   Net realized gain (loss) from futures contracts

 

  2 

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

 

Foreign exchange contracts

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

During the fiscal year ended March 31, 2020, the volume of derivative activity (based on the average of month-end balances, except where footnoted) for each Fund was as follows:

 

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

Europe Hedged Equity Fund

 

  

Equity contracts1

   $      $      $ 1,918,349  

Foreign exchange contracts

     3,492,401,445        6,858,500,749         

Europe Hedged SmallCap Equity Fund

 

  

Foreign exchange contracts

     97,987,220        189,868,248         

Germany Hedged Equity Fund

 

  

Foreign exchange contracts

     45,287,942        88,616,128         

International Hedged Quality Dividend Growth Fund

 

  

Foreign exchange contracts

     516,408,389        1,027,912,610         

Japan Hedged Equity Fund

 

  

Foreign exchange contracts

     2,808,780,109        5,446,983,148         

Japan Hedged SmallCap Equity Fund

 

  

Foreign exchange contracts

     65,376,813        126,818,772         

 

  1 

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

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

 

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Table of Contents

Notes to Financial Statements (continued)

 

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates prevailing on the respective dates of such transactions that are deemed appropriate by WTAM. Realized and unrealized foreign exchange gains and losses on investments are included as a component of net realized gain (loss) from investment transactions and net increase (decrease) in unrealized appreciation (depreciation) from investment transactions, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses from foreign currency contracts are included in net realized gain (loss) from foreign currency contracts and net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies, currency gains or losses recognized between the trade and settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in net realized gain (loss) from foreign currency related transactions and/or increase (decrease) in unrealized appreciation (depreciation) from translation of assets and liabilities denominated in foreign currencies in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.

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

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

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

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

Currency Transactions — The Funds may enter into foreign currency forward and foreign currency futures contracts to facilitate local securities settlements or to protect against currency exposure. The Funds may not enter into such contracts for speculative purposes.

Forward Foreign Currency Contracts — The Funds utilized forward foreign currency contracts (“Forward Contracts”) primarily to offset exposure to foreign currencies consistent with each Fund’s investment objective. A Forward Contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A Forward Contract generally does not require an initial margin deposit and no commissions are charged at any stage for trades. However, if a Fund is in an unrealized loss position on a Forward Contract, it may be required to pledge collateral (or additional collateral) to the counterparty. If a Fund is in an unrealized gain position on a Forward Contract, it may receive collateral from the counterparty.

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

 

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

Futures Contracts The Europe Hedged Equity Fund utilized equity futures contracts on a temporary basis during the fiscal year to obtain market exposure consistent with its investment objective during the Fund’s annual portfolio rebalance. When a Fund purchases a listed futures contract, it agrees to purchase a specified reference asset (e.g., commodity, currency or Treasury security) at a specified future date. When a Fund sells a listed futures contract, it agrees to sell a specified reference asset (e.g., commodity, currency or Treasury security) at a specified future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. The exchange clearing corporation is the ultimate counterparty for all exchange-listed contracts, so credit risk is limited to the creditworthiness of the exchange’s clearing corporation.

Upon entering into a futures contract, a Fund is required to deliver to a broker an amount of cash and/or government securities equal to a certain percentage of the contract amount. This amount is known as the “initial margin”. Subsequent payments, known as “variation margin”, generally are made or received by the Fund each day or at other agreed-upon time periods depending on the fluctuations in the value of the underlying futures contracts, except that in the case of certain futures contracts variation margin payments may be made or received when the futures contract expires. Variation margin is recorded for financial statement purposes on a daily basis as an unrealized gain or loss on futures until the financial futures contract is closed, at which time the net gain or loss is reclassified to realized gain or loss on futures. When a Fund purchases or sells a futures contract, the Fund is required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, a Fund will segregate assets consisting of, or take other measures with respect to, cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, will “cover” its position in a manner consistent with the 1940 Act or the rules and SEC interpretations thereunder. This will function as a practical limit on the amount of leverage which a Fund may undertake and on the potential increase in the speculative character of a Fund’s outstanding portfolio securities.

As of March 31, 2020, there were no open futures contracts in the Funds.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high-grade debt obligations, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower.

Master Netting Arrangements — FASB ASC Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

 

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In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter derivatives (“OTC”), such as Forward Contracts, and typically contains, among other things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.

Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g. foreign exchange contracts, options and certain swaps). Generally, for transactions traded under an ISDA Master Agreement, the collateral requirements are calculated by netting the marked to market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by a Fund and the counterparty. Generally, the amount of collateral due from or to a counterparty must exceed a minimum transfer amount threshold before a transfer is required to be made. To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from a counterparty’s non-performance.

The Funds’ security lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower.

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2020, the impact of netting of assets and liabilities and the offsetting of collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending Agreement are detailed in the following table:

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
   

Net Amount

   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
   

Net Amount

 
Fund   Financial
Instruments
    Collateral
Received
    Financial
Instruments
    Collateral
Posted
 

Europe Hedged Equity Fund

 

Securities Lending

  $ 60,986,095     $     $ (60,986,095 )1    $     $     $     $     $  

Foreign Currency Contracts

    10,160,843       (1,736,111           8,424,732       2,048,521       (1,736,111           312,410  

Europe Hedged SmallCap Equity Fund

               

Securities Lending

    3,512,124             (3,512,124 )1                               

Foreign Currency Contracts

    273,576       (39,615           233,961       39,847       (39,615           232  

Germany Hedged Equity Fund

 

Foreign Currency Contracts

    114,838       (18,509           96,329       18,637       (18,509           128  

International Hedged Quality Dividend Growth Fund

               

Securities Lending

    16,684,708             (16,684,708 )1                               

Foreign Currency Contracts

    9,365,283       (245,750           9,119,533       263,716       (245,750           17,966  

Japan Hedged Equity Fund

               

Securities Lending

    84,933,441             (84,933,441 )1                               

Foreign Currency Contracts

    5,034,603       (1,940,749           3,093,854       4,592,426       (1,940,749           2,651,677  

Japan Hedged SmallCap Equity Fund

               

Securities Lending

    5,813,250             (5,813,250 )1                               

Foreign Currency Contracts

    117,461       (4,602           112,859       4,602       (4,602            

 

  1 

The amount of collateral presented has been limited such that the net amount by counterparty cannot be less than zero.

 

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Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with the requirements of the Code and the U.S. Treasury regulations. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (‘‘Mellon’’) to provide sub-advisory services to the Funds. Mellon is compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

WTAM expects to receive advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:

 

   
Fund   

Advisory

Fee Rate

 

Europe Hedged Equity Fund

     0.58

Europe Hedged SmallCap Equity Fund

     0.58

Germany Hedged Equity Fund

     0.48

International Hedged Quality Dividend Growth Fund

     0.58

Japan Hedged Equity Fund

     0.48

Japan Hedged SmallCap Equity Fund

     0.58

Each Fund may purchase shares of affiliated ETFs in secondary market transactions to reduce cash balances. Transactions in shares of affiliated ETFs for the fiscal year ended March 31, 2020, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM waives its advisory fees for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (fund

 

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accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are shown in the Statements of Operations in “Expense waivers”.

During the fiscal year ended March 31, 2020, certain Funds engaged in purchase and sale transactions with funds that have a common investment adviser, WTAM. These interfund purchase and sale transactions were effected in accordance with Rule 17a-7 under the 1940 Act. For the fiscal year ended March 31, 2020, the cost of purchases, proceeds from sales and the net realized gain or loss recognized upon the disposal of securities resulting from interfund transactions are shown in the following table:

 

       
Fund    Purchases      Sales      Net Realized
Gain/Loss
 

Europe Hedged Equity Fund

   $ 14,204,324      $ 51,386,611      $ 1,831,521  

Europe Hedged SmallCap Equity Fund

     5,152,737        4,373,492        (1,144,412

Germany Hedged Equity Fund

     418,110        2,943,096        (350,766

International Hedged Quality Dividend Growth Fund

     62,957,186        41,038,320        (11,852,609

Japan Hedged Equity Fund

     17,638,085        25,115,850        2,181,460  

Japan Hedged SmallCap Equity Fund

     2,173,843        3,584,913        (921,520

WTAM or its affiliates may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2020, WTAM held shares of and received distributions from the following Funds which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

       
Fund    Fund Shares
held by WTAM
     Market Value of
Fund Shares
held by WTAM
     Dividends and
Distributions
paid to WTAM
on Fund
Shares held by
WTAM
 

International Hedged Quality Dividend Growth Fund

     84      $ 2,543      $ 35  

Japan Hedged Equity Fund

     21        885        24  

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2020, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof. Except when aggregated in creation units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities and/or an amount of cash. Investors purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year ended March 31, 2020 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

Europe Hedged Equity Fund

   $ 1,045,374,417      $ 864,540,688      $      $ 960,938,039  

Europe Hedged SmallCap Equity Fund

     48,809,663        44,390,413               54,704,738  

Germany Hedged Equity Fund

     20,673,137        17,457,460        1,445,299        15,526,416  

International Hedged Quality Dividend Growth Fund

     355,216,149        307,901,299        197,648,841        12,891,962  

Japan Hedged Equity Fund

     516,509,361        571,095,926        207,716,565        1,339,925,434  

Japan Hedged SmallCap Equity Fund

     22,096,137        22,903,359               30,699,768  

 

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Notes to Financial Statements (continued)

 

6. FEDERAL INCOME TAXES

At March 31, 2020, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:

         
   

Investments in Long Securities

          Investments in Financial Derivatives1        
Fund   Tax Cost     Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
    Net Unrealized
Depreciation
           Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
    Net
Unrealized
Appreciation
    Total Net
Unrealized
Depreciation
 

Europe Hedged Equity Fund

  $ 3,160,713,087     $ 202,138,359     $ (1,118,264,674   $ (916,126,315           $     $     $     $ (916,126,315

Europe Hedged SmallCap Equity Fund

    74,235,705       2,209,830       (25,703,561     (23,493,731             140             140       (23,493,591

Germany Hedged Equity Fund

    44,116,489       803,885       (15,739,817     (14,935,932             65             65       (14,935,867

International Hedged Quality Dividend Growth Fund

    635,774,738       35,112,447       (76,652,882     (41,540,435             261,944       (199,535     62,409       (41,478,026

Japan Hedged Equity Fund

    2,258,372,643       110,696,835       (622,324,864     (511,628,029             1,318       (712     606       (511,627,423

Japan Hedged SmallCap Equity Fund

    58,693,390       2,132,183       (14,187,421     (12,055,238                               (12,055,238
  1 

Certain financial derivatives may be considered section 1256 contracts under the Code. Each section 1256 contract held at the close of a taxable year shall be treated as sold for its fair market value on the last business day of such taxable year (and any realized gain and loss shall be taken into account for the taxable year). As such, the unrealized appreciation/(depreciation) for financial derivatives on a tax basis may not correspond to the unrealized appreciation/(depreciation) on a GAAP basis. The unrealized appreciation/(depreciation) for financial derivatives on a GAAP basis is located in the respective financial derivatives tables in each Fund’s Schedule of Investments.

At March 31, 2020, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

           
Fund    Undistributed
Ordinary Income
     Undistributed
Capital and
Other Losses
    

Net

Unrealized
Depreciation

     Currency and
Other Unrealized
Appreciation/
(Depreciation)
    

Total Distributable
Earnings (Loss)

 

Europe Hedged Equity Fund

   $      $ (1,557,935,139    $ (916,126,315    $ (390,762    $ (2,474,452,216

Europe Hedged SmallCap Equity Fund

     95,512        (12,767,695      (23,493,591      (8,335      (36,174,109

Germany Hedged Equity Fund

     9,186        (27,744,911      (14,935,867      (7,713      (42,679,305

International Hedged Quality Dividend Growth Fund

     3,275,467        (15,215,461      (41,478,026      16,344        (53,401,676

Japan Hedged Equity Fund

     19,750,049        (1,784,998,366      (511,627,423      37,025        (2,276,838,715

Japan Hedged SmallCap Equity Fund

     602,251        (22,930,207      (12,055,238      1,102        (34,382,092

The tax character of distributions paid during the fiscal years ended March 31, 2020 and March 31, 2019, was as follows:

 

       
     Year Ended March 31, 2020              Year Ended March 31, 2019  
         
Fund    Distributions Paid
from Ordinary
Income*
             Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Return of
Capital
 

Europe Hedged Equity Fund

   $ 73,070,900               $ 113,154,749      $ 15,257,371  

Europe Hedged SmallCap Equity Fund

     3,656,484                 3,894,030         

Germany Hedged Equity Fund

     1,302,508                 1,590,516        525,501  

International Hedged Quality Dividend Growth Fund

     10,573,345                 1,740,568         

Japan Hedged Equity Fund

     69,542,586                 146,097,231         

Japan Hedged SmallCap Equity Fund

     1,374,718                 2,960,022         
  * 

Includes short-term capital gains, if any.

 

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At March 31, 2020, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the below table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

       
Fund   

Short-Term

    

Long-Term

    

Capital

Loss

Available Total

 

Europe Hedged Equity Fund

   $ 965,200,701      $ 592,691,712      $ 1,557,892,413  

Europe Hedged SmallCap Equity Fund

     12,767,695               12,767,695  

Germany Hedged Equity Fund

     15,098,925        12,645,986        27,744,911  

International Hedged Quality Dividend Growth Fund

     13,093,694        906,336        14,000,030  

Japan Hedged Equity Fund

     1,070,819,659        714,178,707        1,784,998,366  

Japan Hedged SmallCap Equity Fund

     13,429,985        9,500,222        22,930,207  

Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year.

During the fiscal year ended March 31, 2020, the following Funds incurred and will elect to defer post-October capital losses and late year ordinary losses as follows:

 

       
Fund   

Late Year

Ordinary Loss

     Short-Term
Post-October
Capital
Losses
     Long-Term
Post-October
Capital Losses
 

Europe Hedged Equity Fund

   $ 42,726      $      $  

Europe Hedged SmallCap Equity Fund

                    

Germany Hedged Equity Fund

                    

International Hedged Quality Dividend Growth Fund

            9,078,617        (7,863,186

Japan Hedged Equity Fund

                    

Japan Hedged SmallCap Equity Fund

                    

During the fiscal year ended March 31, 2020, the amount of capital loss carryforwards used to offset realized gains are shown in the following table:

 

   
Fund   

Utilized

Capital Loss

Carryforward

 

Europe Hedged Equity Fund

   $ 43,853,687  

Europe Hedged SmallCap Equity Fund

     1,041,953  

Germany Hedged Equity Fund

      

International Hedged Quality Dividend Growth Fund

      

Japan Hedged Equity Fund

      

Japan Hedged SmallCap Equity Fund

      

At March 31, 2020, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as follows:

 

     
Fund    Total
Distributable
Earnings
(Loss)
     Paid-in Capital  

Europe Hedged Equity Fund

   $ 3,892,652      $ (3,892,652

Europe Hedged SmallCap Equity Fund

     (1,178,068      1,178,068  

Germany Hedged Equity Fund

     (123,166      123,166  

International Hedged Quality Dividend Growth Fund

     (1,156,285      1,156,285  

Japan Hedged Equity Fund

     63,334,113        (63,334,113

Japan Hedged SmallCap Equity Fund

     601,775        (601,775

The differences are primarily due to redemptions-in-kind.

 

WisdomTree Trust      65  


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Notes to Financial Statements (concluded)

 

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Foreign withholding taxes, as applicable, are accrued based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Foreign withholding taxes are accrued and applied to foreign income, net realized capital gains and net unrealized appreciation, as applicable, as the foreign income is earned or capital gains and unrealized appreciation are recorded. As of and during the fiscal year or period ended March 31, 2020, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Generally, each of the tax years in the four-year period ended March 31, 2020, remains subject to examination by taxing authorities.

7. ADDITIONAL INFORMATION

A recent outbreak of a respiratory disease caused by a novel coronavirus (“COVID-19”) has spread globally in a short period of time. In an organized attempt to contain and mitigate the effects of COVID-19, governments and businesses world-wide have taken aggressive measures, including businesses canceling dividends to preserve cash, governments closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations. COVID-19 has resulted in the disruption of and delays in the delivery of healthcare services and processes, the cancellation of organized events and educational institutions, the disruption of production and supply chains, a decline in consumer demand for certain goods and services, and general concern and uncertainty, all of which have contributed to increased volatility in global markets. The effects of COVID-19 have affected and are likely to continue to affect certain sectors and industries more dramatically than others, and the effects borne by some will negatively affect the value of the issuers in those sectors and industries, which may adversely affect the value of each Fund’s investments in those sectors or industries. COVID-19, and other epidemics and pandemics that may arise in the future, could adversely affect the economies of many nations, the global economy, individual companies and capital markets in ways that cannot be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to limited health care resources. Political, economic and social stresses caused by COVID-19 also may exacerbate other pre-existing political, social and economic risks in certain countries. The duration of COVID-19 and its effects cannot be determined at this time, but the effects could be present for an extended period of time. It is impossible to predict the effects on the Funds of these or similar events and market conditions in the future. However, it is possible that these or similar events and market conditions could have a significant and adverse effect on the NAV and/or risk profile of the Funds.

 

66   WisdomTree Trust


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Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree Europe Hedged Equity Fund, WisdomTree Europe Hedged SmallCap Equity Fund, WisdomTree Germany Hedged Equity Fund, WisdomTree International Hedged Quality Dividend Growth Fund, WisdomTree Japan Hedged Equity Fund and WisdomTree Japan Hedged SmallCap Equity Fund, and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of WisdomTree Europe Hedged Equity Fund, WisdomTree Europe Hedged SmallCap Equity Fund, WisdomTree Germany Hedged Equity Fund, WisdomTree International Hedged Quality Dividend Growth Fund, WisdomTree Japan Hedged Equity Fund and WisdomTree Japan Hedged SmallCap Equity Fund (collectively referred to as the “Funds”), (six of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments, as of March 31, 2020, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (six of the funds constituting WisdomTree Trust) at March 31, 2020, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended and their financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2020, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

LOGO

We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 21, 2020

 

WisdomTree Trust      67  


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Trustees and Officers Information (unaudited)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

During Past
5 Years

Trustees Who Are Interested Persons of the Trust
Jonathan Steinberg
(1964)
  Trustee, 2005 – present; President, 2005-present   Chief Executive Officer, WisdomTree Investments, Inc. and WisdomTree Asset Management since 2005; President, WisdomTree Investments, Inc. and WisdomTree Asset Management from 2012 to 2019.     76     Director, WisdomTree Investments, Inc. and WisdomTree Asset Management.
Trustees Who Are Not Interested Persons of the Trust
David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     76     Trustee, Vericimetry Funds (2011 to 2014).
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner, Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     76     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     76     None

Melinda A. Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     76     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     76     Member of the Board of Governors of Naismith Memorial Basketball Hall of Fame (2001-2016).

 

 

68   WisdomTree Trust


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Trustees and Officers Information (unaudited) (concluded)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

During Past
5 Years

Officers of the Trust

Jonathan Steinberg*****

(1964)

  President, 2005- present; Trustee, 2005-present  

Chief Executive Officer, WisdomTree Investments, Inc. and WisdomTree Asset Management since 2005; President, WisdomTree Investments, Inc. and WisdomTree Asset Management from 2012 to 2019.

    76     Director, WisdomTree Investments, Inc. and WisdomTree Asset Management, Inc.

David Castano*****

(1971)

  Treasurer, 2013-present  

Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, WisdomTree Asset Management, 2011 to 2020.

    76    

None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present  

Chief Compliance Officer, WisdomTree Asset Management since 2012; Senior Compliance Officer, WisdomTree Asset Management since 2011.

    76    

None

Ryan Louvar*****

(1972)

  Secretary and Chief Legal Officer, 2013-present  

General Counsel, WisdomTree Asset Management since 2013; Vice President and Senior Managing Counsel, State Street, 2005 to 2013.

    76    

None

Joanne Antico*****

(1975)

 

Assistant Secretary,

2018-present

 

Assistant General Counsel, WisdomTree Asset Management since 2016; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.

    76    

None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present  

Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.

    76    

None

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

WisdomTree Trust      69  


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Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year ended March 31, 2020, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2021.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2020, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

Europe Hedged Equity Fund

   $ 71,893,418  

Europe Hedged SmallCap Equity Fund

     3,172,963  

Germany Hedged Equity Fund

     1,302,508  

International Hedged Quality Dividend Growth Fund

     10,573,345  

Japan Hedged Equity Fund

     62,582,082  

Japan Hedged SmallCap Equity Fund

     1,277,907  

The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries during the fiscal year ended March 31, 2020. The gross foreign source income and foreign taxes paid are as follows:

 

     
Fund    Gross Foreign
Income
     Foreign Taxes
Paid
 

Europe Hedged Equity Fund

   $ 92,380,817      $ 9,435,741  

Europe Hedged SmallCap Equity Fund

     4,062,068        321,316  

Germany Hedged Equity Fund

     1,552,987        255,136  

International Hedged Quality Dividend Growth Fund

     13,074,386        934,572  

Japan Hedged Equity Fund

     62,350,593        6,280,608  

Japan Hedged SmallCap Equity Fund

     1,277,735        131,680  

The following represents the percentage of dividends paid during the fiscal year ended March 31, 2020, that qualify for the 70% dividends received deduction for corporate shareholders:

 

   
Fund    Dividends-Received
Deduction
 

Europe Hedged Equity Fund

      

Europe Hedged SmallCap Equity Fund

      

Germany Hedged Equity Fund

      

International Hedged Quality Dividend Growth Fund

     0.20

Japan Hedged Equity Fund

      

Japan Hedged SmallCap Equity Fund

      

 

70   WisdomTree Trust


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General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

Previously, the Funds were required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Beginning in April 2019, the Funds ceased filing Form N-Q and commenced filing Form N-PORT. Part F of each Fund’s Form N-PORT filings for the first and third fiscal quarters contain the complete schedule of portfolio holdings in the same manner as previously filed on Form N-Q. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: publicinfo@sec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com.

 

WisdomTree Trust      71  


Table of Contents

The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree Investments, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree Investments, its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other information, is available at www.wisdomtree.com, or by calling 1-866-909-WISE (9473). Investors should read the prospectus carefully before investing. There are risks associated with investing, including possible loss of principal. Past performance does not guarantee future results. Indexes are unmanaged and you cannot invest directly in an index.

There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Inflation protected securities do not eliminate risks associated with inflation or deflation. Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting such issuers. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.


Table of Contents

WisdomTree Trust

245 Park Avenue, 35th Floor

New York, NY 10167

 

LOGO

 

LOGO

 

WisdomTree Fund shares are distributed by Foreside Fund Services, LLC, in the U.S. only.

WTGM-3608


Table of Contents

LOGO

 

LOGO

 

WisdomTree Trust

Annual Report

March 31, 2020

 

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

WisdomTree Europe SmallCap Dividend Fund (DFE)

WisdomTree International Dividend ex-Financials Fund (DOO)

WisdomTree International Equity Fund (DWM)

WisdomTree International High Dividend Fund (DTH)

WisdomTree International LargeCap Dividend Fund (DOL)

WisdomTree International MidCap Dividend Fund (DIM)

WisdomTree International Multifactor Fund (DWMF)

WisdomTree International Quality Dividend Growth Fund (IQDG)

WisdomTree International SmallCap Dividend Fund (DLS)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

IMPORTANT NOTE: Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the WisdomTree Funds’ annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, annual and semi-annual shareholder reports will be available on the WisdomTree Funds’ website (www.wisdomtree.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a Fund electronically anytime by contacting your financial intermediary (such as a broker-dealer or bank).

You may elect to receive all future reports in paper free of charge. Please contact your financial intermediary to request to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account.


Table of Contents

Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       3  

Management’s Discussion of Funds’ Performance (unaudited)

       4  

Description of Terms and Indexes (unaudited)

       15  
Schedules of Investments     

WisdomTree Europe Quality Dividend Growth Fund

       18  

WisdomTree Europe SmallCap Dividend Fund

       21  

WisdomTree International Dividend ex-Financials Fund

       26  

WisdomTree International Equity Fund

       28  

WisdomTree International High Dividend Fund

       37  

WisdomTree International LargeCap Dividend Fund

       43  

WisdomTree International MidCap Dividend Fund

       47  

WisdomTree International Multifactor Fund

       54  

WisdomTree International Quality Dividend Growth Fund

       57  

WisdomTree International SmallCap Dividend Fund

       61  

WisdomTree Japan SmallCap Dividend Fund

       72  

Statements of Assets and Liabilities

       82  

Statements of Operations

       85  

Statements of Changes in Net Assets

       88  

Financial Highlights

       92  

Notes to Financial Statements

       98  

Report of Independent Registered Public Accounting Firm

       114  

Trustees and Officers Information (unaudited)

       116  

Supplemental Information (unaudited)

       118  

General Information (unaudited)

       119  

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


Table of Contents

Market Environment Overview

(unaudited)

 

International equity markets, as measured by the MSCI EAFE Index, a broad measure of equity performance for the developed world outside the U.S. and Canada, returned -14.38% in U.S. dollar terms for the 12-month period ended March 31, 2020. Measured in local currency, the MSCI EAFE Index returned -12.58% over the same period. International currency performance was mixed in the period, and the largest currency moves occurred in the first quarter of 2020, during the period that included the novel coronavirus (“COVID-19”) outbreak. Most international currencies weakened versus the U.S. dollar (“USD”). Meanwhile, the Japanese yen and Swiss franc, which are widely regarded as safe-haven currencies during periods of volatility, strengthened relative to the USD.

International equities generated positive performance during the second quarter of 2019, as measured by the MSCI EAFE Index, returning +3.68% in USD and +2.80% in local currency terms. Positive performance in April 2019 and June 2019 more than offset negative returns in May of 2019. Early in the second quarter of 2019, incoming economic data continued to show signs of weakening. In Germany, manufacturing survey data contracted, and 10-year German government bond yields entered negative territory for the first time since 2016. In May 2019, escalation of the U.S.-China trade dispute and the continued weakening trend in economic datapoints from Germany, the Eurozone’s largest economy, were key drivers of negative equity performance. Also contributing to negative sentiment was the announced resignation of Theresa May as the United Kingdom (“U.K.”) Prime Minister. Japanese gross domestic product (“GDP”) growth of +2.1% was a surprise to the upside relative to expectations for contraction which was a modest positive offset. In June 2019, European equities rallied on heightened expectations for easing monetary policy conditions and an improved outlook on global trade relations.

International equity performance was positive, although slightly more subdued in the third quarter of 2019. During this period, the MSCI EAFE Index returned +1.75% in local currency terms, but broad strengthening of the USD resulted in a -1.07% return in USD terms for the same period. In July 2019, Japanese election results confirmed that incumbent Prime Minister Shinzo Abe and the democratic party would remain in power, providing political stability within the nation. Meanwhile, the German manufacturing sector continued to lag, posting its lowest level of activity in seven years, which was slightly offset by services sector expansion. These contracting economic indicators and signals from new leadership at the European Central Bank drove expectations for easing monetary policy in the Eurozone. In the U.K., Boris Johnson was elected as Britain’s Prime Minister, pledging that the U.K. would exit the European Union (known as “Brexit”) by October 31, 2019. Late August 2019 brought a trade resolution between the U.S. and Japan, but escalating tensions between the U.S. and China remained in focus and were largely to blame for a reported contraction in German GDP as well as a sizable drop in Japanese exports. Additionally, Italy narrowly avoided political collapse with the formation of a new governing coalition between the Democratic party and the populist Five Star Movement. European market volatility calmed in September 2019, despite increasing Brexit uncertainty, after the European Central Bank cut the deposit rate to a record low alongside the introduction of a new quantitative easing program.

International equity markets rallied in the fourth quarter of 2019, returning +8.17% in USD terms and +5.19% in local currency terms. This period was characterized by a reduction in global uncertainty and accommodative monetary policy. In October 2019, Japan increased the sales tax rate by 2% to 10%, which partially drove slowing economic activity alongside a reduction in exports from U.S.-China trade frictions. In October 2019, the European Union delayed Brexit for the third time to January 2020, beyond U.K. Prime Minister Boris Johnson’s October 31, 2019 goal. Meanwhile, the trend of stagnating economic activity across Europe persisted through November 2019. In early December 2019, Japan announced a substantial stimulus package aimed at boosting the nation’s GDP by 1.4% through March 2022. By mid-December 2019, a preliminary trade agreement between the U.S. and China buoyed international equities. European economic activity began to show signs of bottoming and potential recovery, including modest economic growth in Germany.

 

WisdomTree Trust      1  


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Market Environment Overview

(unaudited) (concluded)

 

At the end of the fourth quarter of 2019, U.K. Prime Minister Boris Johnson’s Conservative Party secured a majority in the House of Commons, providing a clearer path for the U.K. to exit the European Union. The European Central Bank left its monetary policy rate unchanged in response to early signs of an economic recovery.

Positive international equity performance sharply reversed during the first quarter of 2020. The MSCI EAFE Index returned -20.55% in local currency terms and -22.83% in USD terms. In early January 2020, news of the spread of COVID-19 emerged. Before the virus spread, Germany and the Eurozone reported that 2019 GDP growth hit a 6-year low of 0.6% and 1.2%, respectively. Additionally, the U.K. formally exited the European Union on January 31, 2020.

At the end of January 2020, China announced the lock down of select cities due to COVID-19. In the ensuing days and weeks, the global rate of COVID-19 infection spread; along with the impact on the global economy. Large international corporations announced disruptions to operations and forecasted meaningful reductions in financial expectations. Amid the virus outbreak, Japan reported a 6.3% contraction in GDP for the fourth quarter of 2019, driven by a sharp decline in household consumption from a higher sales tax rate. At the end of February 2020, many countries within the European Union began reporting COVID-19 infections, with the most significant increase in Northern Italy. An oil price war between Saudi Arabia and Russia added to the market volatility experienced by international equities.

In March 2020, the spread of COVID-19 in Japan was relatively more contained than in other developed nations. The infection rate in Europe worsened, and many nations began implementing lock down measures, halting economic activity. Notably, Italy became the country with the highest COVID-19 related death rate. The Bank of England announced large cuts in interest rates to a record low and agreed to purchase £200 billion in U.K. government bonds. Similarly, the European Central Bank increased bond purchases under its current program and announced a new €750 billion bond-buying program.

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

 

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Table of Contents

Information about Performance and Shareholder Expense Examples (unaudited)

Performance

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

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

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.

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

Shareholder Expense Examples

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

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2019 to March 31, 2020. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 183/366 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

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

Hypothetical example for comparison purposes

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

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

 

WisdomTree Trust      3  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Staples

    19.7%  

Consumer Discretionary

    17.5%  

Industrials

    17.1%  

Health Care

    16.9%  

Materials

    11.6%  

Information Technology

    7.4%  

Communication Services

    2.4%  

Financials

    2.2%  

Energy

    1.6%  

Utilities

    1.2%  

Real Estate

    1.2%  

Other Assets less Liabilities‡

    1.2%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Roche Holding AG, Genusschein

    7.3%  

British American Tobacco PLC

    4.8%  

LVMH Moet Hennessy Louis Vuitton SE

    4.2%  

Novo Nordisk A/S, Class B

    3.6%  

Industria de Diseno Textil S.A.

    3.5%  

Rio Tinto PLC

    3.3%  

Unilever N.V.

    3.1%  

L’Oreal S.A.

    2.9%  

SAP SE

    2.4%  

Roche Holding AG, Bearer Shares

    2.1%  
*

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

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

The Fund returned -9.46% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020 with European equities underperforming. The Fund’s position in Switzerland contributed to performance while its position in the United Kingdom detracted from performance. The euro also depreciated by 2.1% against the U.S. dollar during the fiscal year, which served as a headwind for the Fund. However, the Fund’s significant overweight to higher quality companies proved to be a source of outperformance when compared to companies with low quality (based on return on equity).

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 888.20        0.58   $ 2.74  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

 

Performance

 

 

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

Fund NAV Returns

       -9.46      0.82      1.34      0.01

Fund Market Price Returns

       -10.40      0.36      1.05      -0.26

WisdomTree Europe Quality Dividend Growth Index

       -9.19      1.31      1.83      0.48

MSCI Europe Index

       -15.50      -2.34      -1.31      -2.37
1 

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

 

LOGO

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

 

4   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree Europe SmallCap Dividend Fund (DFE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    20.9%  

Financials

    17.5%  

Consumer Discretionary

    12.9%  

Information Technology

    10.9%  

Materials

    8.8%  

Consumer Staples

    7.2%  

Real Estate

    6.7%  

Communication Services

    4.7%  

Utilities

    3.0%  

Health Care

    3.0%  

Energy

    2.0%  

Investment Company

    1.3%  

Other Assets less Liabilities‡

    1.1%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

BE Semiconductor Industries N.V.

    2.0%  

Siltronic AG

    1.9%  

bpost S.A.

    1.6%  

WisdomTree International MidCap Dividend Fund (DIM)

    1.3%  

Metsa Board Oyj

    1.2%  

Peab AB, Class B

    1.0%  

Banca Farmafactoring SpA

    1.0%  

Deutsche Pfandbriefbank AG

    1.0%  

Vistry Group PLC

    1.0%  

TietoEVRY Oyj

    0.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any). For a full list of holdings information for the underlying WisdomTree Fund, please see pages 47-53 of this report.

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

The Fund returned -26.54% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020 with European equities underperforming. The Fund’s position in Austria contributed least negatively to performance while its position in the United Kingdom created a drag on performance. Additionally, small cap companies underperformed during the fiscal period when compared to their larger peers. The euro also depreciated by 2.1% against the U.S. dollar during the fiscal year, which served as a headwind for Fund returns.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 744.50        0.58   $ 2.53  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

 

Performance

 

 

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

Fund NAV Returns

       -26.54      -7.94      -2.38      4.58

Fund Market Price Returns

       -27.35      -8.29      -2.60      4.49

WisdomTree Europe SmallCap Dividend Index

       -26.19      -7.66      -1.96      5.18

MSCI Europe Small Cap Index

       -19.99      -3.52      0.20      5.24

 

LOGO

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

 

WisdomTree Trust      5  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree International Dividend ex-Financials Fund (DOO)

 

Sector Breakdown

 

Sector   % of Net Assets  

Utilities

    16.2%  

Communication Services

    12.5%  

Industrials

    11.7%  

Consumer Staples

    11.2%  

Health Care

    11.2%  

Materials

    9.7%  

Energy

    9.3%  

Consumer Discretionary

    9.2%  

Information Technology

    6.9%  

Investment Company

    1.2%  

Other Assets less Liabilities‡

    0.9%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

SSE PLC

    2.9%  

Imperial Brands PLC

    2.2%  

Tokyo Electron Ltd.

    2.1%  

British American Tobacco PLC

    2.0%  

National Grid PLC

    1.9%  

NTT DOCOMO, Inc.

    1.9%  

UPM-Kymmene Oyj

    1.8%  

Vodafone Group PLC

    1.6%  

BAE Systems PLC

    1.5%  

Bayer AG, Registered Shares

    1.5%  
*

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

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

The Fund returned -19.77% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020. Due to its underlying index methodology, the Fund added value by avoiding financials which was the worst performing sector in the market over the fiscal year (-24.60%). The Fund’s sector position in Utilities contributed most positively to performance, while its position in Consumer Discretionary contributed most negatively to performance. The Fund benefited from its investment in Switzerland, which contributed positively to performance. The Fund’s position in the United Kingdom detracted from performance.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 797.60        0.58   $ 2.61  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -19.77      -3.42      -2.45      1.25

Fund Market Price Returns

       -20.43      -3.73      -2.61      1.18

WisdomTree International Dividend ex-Financials Index

       -19.68      -3.20      -2.18      1.44

MSCI EAFE Value Index

       -22.76      -6.65      -3.83      0.62

 

LOGO

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

 

6   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree International Equity Fund (DWM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    20.1%  

Industrials

    12.2%  

Health Care

    10.6%  

Consumer Discretionary

    10.4%  

Consumer Staples

    10.0%  

Communication Services

    9.4%  

Materials

    6.7%  

Energy

    6.6%  

Utilities

    6.2%  

Information Technology

    4.1%  

Real Estate

    2.7%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.9%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Nestle S.A., Registered Shares

    1.5%  

Roche Holding AG, Genusschein

    1.4%  

China Mobile Ltd.

    1.4%  

Novartis AG, Registered Shares

    1.3%  

Toyota Motor Corp.

    1.3%  

HSBC Holdings PLC

    1.2%  

British American Tobacco PLC

    1.2%  

TOTAL S.A.

    1.1%  

BP PLC

    1.1%  

GlaxoSmithKline PLC

    1.0%  
*

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

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

The Fund returned -18.80% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020. The Fund’s country positioning benefited most from its investment in Switzerland, which had positive performance. The Fund’s position in the United Kingdom was a drag on performance. The Fund’s sector position in Real Estate contributed most positively to performance, while its position in Financials contributed most negatively to performance.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 806.30        0.48   $ 2.17  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.60        0.48   $ 2.43  

Performance

 

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

Fund NAV Returns

       -18.80      -3.93      -1.87      2.19

Fund Market Price Returns

       -19.36      -4.25      -2.02      2.08

WisdomTree International Equity Index

       -18.79      -3.75      -1.66      2.31

MSCI EAFE Index

       -14.38      -1.82      -0.62      2.72

 

LOGO

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

 

WisdomTree Trust      7  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree International High Dividend Fund (DTH)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    22.0%  

Communication Services

    12.9%  

Energy

    10.9%  

Industrials

    10.2%  

Utilities

    10.0%  

Materials

    8.7%  

Health Care

    7.7%  

Consumer Discretionary

    7.6%  

Consumer Staples

    5.1%  

Information Technology

    2.0%  

Real Estate

    1.8%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    1.0%  

Total

    100.0%  

 

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

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

China Mobile Ltd.

    2.9%  

British American Tobacco PLC

    2.4%  

TOTAL S.A.

    2.3%  

BP PLC

    2.2%  

GlaxoSmithKline PLC

    2.1%  

NTT DOCOMO, Inc.

    2.0%  

Royal Dutch Shell PLC, Class A

    1.9%  

Sanofi

    1.8%  

HSBC Holdings PLC

    1.6%  

AstraZeneca PLC

    1.6%  
*

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

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

The Fund returned -23.48% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020. The Fund’s country positioning benefited most from its investment in Switzerland, which had positive performance. The Fund’s position in the United Kingdom was a drag on performance. The Fund’s position in Utilities contributed most positively to performance, while its position in Energy contributed most negatively to performance.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 767.10        0.58   $ 2.56  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -23.48      -6.07      -3.43      0.97

Fund Market Price Returns

       -23.96      -6.40      -3.52      0.91

WisdomTree International High Dividend Index

       -23.38      -5.95      -3.25      1.18

MSCI EAFE Value Index

       -22.76      -6.65      -3.83      0.62

 

LOGO

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

 

8   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree International LargeCap Dividend Fund (DOL)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    20.4%  

Health Care

    13.4%  

Consumer Staples

    11.7%  

Communication Services

    11.0%  

Consumer Discretionary

    9.7%  

Industrials

    9.6%  

Energy

    8.6%  

Utilities

    5.1%  

Materials

    5.0%  

Information Technology

    2.9%  

Real Estate

    1.4%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    1.0%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Nestle S.A., Registered Shares

    2.2%  

China Mobile Ltd.

    2.1%  

Roche Holding AG, Genusschein

    2.1%  

Novartis AG, Registered Shares

    2.0%  

Toyota Motor Corp.

    1.9%  

HSBC Holdings PLC

    1.7%  

British American Tobacco PLC

    1.7%  

TOTAL S.A.

    1.6%  

BP PLC

    1.6%  

GlaxoSmithKline PLC

    1.5%  
*

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

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

The Fund returned -17.78% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020. The Fund benefited from its investment in Switzerland, which contributed positively to performance. The Fund’s position in the United Kingdom detracted from performance. The Fund’s sector position in Real Estate contributed most positively to performance, while its position in Energy contributed most negatively to performance.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 811.30        0.48   $ 2.17  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.60        0.48   $ 2.43  

Performance

 

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

Fund NAV Returns

       -17.78      -3.43      -2.06      1.70

Fund Market Price Returns

       -18.09      -3.53      -2.14      1.64

WisdomTree International LargeCap Dividend Index

       -17.67      -3.26      -1.85      1.95

MSCI EAFE Index

       -14.38      -1.82      -0.62      2.72

 

LOGO

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

 

WisdomTree Trust      9  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree International MidCap Dividend Fund (DIM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    18.5%  

Industrials

    17.2%  

Materials

    11.6%  

Consumer Discretionary

    11.1%  

Utilities

    11.0%  

Consumer Staples

    6.3%  

Information Technology

    6.3%  

Real Estate

    5.8%  

Communication Services

    5.6%  

Health Care

    3.9%  

Energy

    2.1%  

Other Assets less Liabilities‡

    0.6%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

SSE PLC

    1.3%  

Persimmon PLC

    0.8%  

Telefonica Deutschland Holding AG

    0.7%  

Natixis S.A.

    0.7%  

UPM-Kymmene Oyj

    0.7%  

Danske Bank A/S

    0.7%  

EDP—Energias de Portugal S.A.

    0.6%  

Power Assets Holdings Ltd.

    0.6%  

Standard Life Aberdeen PLC

    0.5%  

Bouygues S.A.

    0.5%  
*

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

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

The Fund returned -21.43% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020. The Fund’s country position in Israel contributed least negatively to performance while its position in the United Kingdom detracted most significantly from performance. The Fund’s sector position in Utilities contributed most positively to performance, while its position in Industrials contributed most negatively to performance. Additionally, the Fund’s focus on midcap companies detracted from performance as midcap companies underperformed during the fiscal period when compared to their larger peers.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 786.80        0.58   $ 2.59  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -21.43      -4.84      -1.43      2.89

Fund Market Price Returns

       -22.25      -5.25      -1.62      2.84

WisdomTree International MidCap Dividend Index

       -21.03      -4.38      -1.07      3.19

MSCI EAFE Mid Cap Index

       -16.32      -2.51      -0.12      3.72

 

LOGO

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

 

10   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree International Multifactor Fund (DWMF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Staples

    16.2%  

Industrials

    15.2%  

Health Care

    14.9%  

Financials

    12.5%  

Communication Services

    9.5%  

Utilities

    8.3%  

Consumer Discretionary

    6.0%  

Information Technology

    5.4%  

Real Estate

    4.7%  

Energy

    1.9%  

Materials

    1.6%  

Other Assets less Liabilities‡

    3.8%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

BioMerieux

    1.4%  

GlaxoSmithKline PLC

    1.3%  

Roche Holding AG, Genusschein

    1.3%  

Coloplast A/S, Class B

    1.1%  

Novartis AG, Registered Shares

    1.1%  

Aviva PLC

    1.1%  

Singapore Exchange Ltd.

    1.1%  

Orange S.A.

    1.1%  

Sartorius Stedim Biotech

    1.1%  

Unilever PLC

    1.1%  
*

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

The WisdomTree International Multifactor Fund (the ‘‘Fund’’) seeks capital appreciation by investing primarily in equity securities of developed countries, excluding the United States and Canada, with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation.

The Fund returned -13.08% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). The Fund’s position in Finland contributed positively to performance while its position in Australia contributed most negatively to performance. The Fund’s multifactor tilts provided a focus on quality companies which generally outperformed. During the fiscal year, the Fund utilized forward foreign currency contracts to offset applicable international currency exposure from positions in international equities. The Fund’s use of foreign currency contracts contributed positively to Fund performance as the U.S. dollar rallied against various international currencies, which served as a tailwind to the strategy’s dynamic currency hedges.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 849.40        0.38   $ 1.76  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      Since Inception1  

Fund NAV Returns

       -13.08      -7.53

Fund Market Price Returns

       -13.13      -7.18

MSCI EAFE Index

       -14.38      -10.29

MSCI EAFE Local Currency Index

       -12.58      -8.87
1 

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

 

LOGO

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

 

WisdomTree Trust      11  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree International Quality Dividend Growth Fund (IQDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    17.6%  

Consumer Discretionary

    16.0%  

Consumer Staples

    15.1%  

Industrials

    14.9%  

Information Technology

    14.0%  

Materials

    9.5%  

Communication Services

    4.3%  

Real Estate

    3.0%  

Utilities

    2.0%  

Financials

    2.0%  

Energy

    1.2%  

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Novo Nordisk A/S, Class B

    4.5%  

Industria de Diseno Textil S.A.

    4.4%  

British American Tobacco PLC

    4.0%  

Unilever N.V.

    4.0%  

Rio Tinto PLC

    3.3%  

SAP SE

    3.0%  

Tokyo Electron Ltd.

    2.6%  

Kering S.A.

    2.3%  

ASML Holding N.V.

    2.3%  

Roche Holding AG, Bearer Shares

    2.2%  
*

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

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

The Fund returned -7.43% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020, however, the Fund’s significant overweight to higher quality companies proved to be a source of outperformance when compared to companies with low quality (based on return on equity). The Fund’s country position in Japan contributed positively to performance while its position in the United Kingdom contributed most negatively to performance. The Fund’s sector position in Health Care contributed most positively to performance, while its position in Consumer Staples contributed most negatively to performance.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 909.70        0.38 %1    $ 1.81  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38 %1    $ 1.92  
1 

WisdomTree Asset Management, Inc. has contractually agreed to limit the management fee to 0.38% through July 31, 2020, unless earlier terminated by the Board of Trustees of the WisdomTree Trust for any reason.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      Since Inception1  

Fund NAV Returns

       -7.43      1.54      2.92

Fund Market Price Returns

       -8.77      1.06      2.74

WisdomTree International Quality Dividend Growth Index

       -7.19      1.81      3.25

MSCI EAFE Index

       -14.38      -1.82      2.07
1 

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

 

LOGO

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

 

12   WisdomTree Trust


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree International SmallCap Dividend Fund (DLS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    21.5%  

Financials

    16.3%  

Consumer Discretionary

    13.1%  

Materials

    9.6%  

Information Technology

    9.1%  

Real Estate

    6.8%  

Consumer Staples

    6.5%  

Communication Services

    5.8%  

Health Care

    4.8%  

Utilities

    3.4%  

Energy

    1.9%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    1.0%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Bolsas y Mercados Espanoles SHMSF S.A.

    0.7%  

Freenet AG

    0.6%  

BE Semiconductor Industries N.V.

    0.6%  

Royal Mail PLC

    0.6%  

Siltronic AG

    0.6%  

bpost S.A.

    0.5%  

Oesterreichische Post AG

    0.5%  

Azimut Holding SpA

    0.5%  

Vistry Group PLC

    0.5%  

Navigator Co. S.A. (The)

    0.5%  
*

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

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

The Fund returned -23.58% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities suffered a significant drop in the first quarter of 2020. The Fund’s position in Switzerland contributed least negatively to performance while its position in the United Kingdom contributed most negatively to performance. Additionally, the Fund’s exposure to small-cap equities underperformed its large and mid-cap peers.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 771.30        0.58   $ 2.57  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -23.58      -6.37      -0.83      3.80

Fund Market Price Returns

       -24.27      -6.77      -1.00      3.67

WisdomTree International SmallCap Dividend Index

       -22.56      -5.73      -0.22      4.38

MSCI EAFE Small Cap Index

       -18.15      -2.88      0.97      4.81

 

LOGO

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

 

WisdomTree Trust      13  


Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2020 (unaudited)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    24.0%  

Consumer Discretionary

    20.6%  

Materials

    11.9%  

Financials

    11.4%  

Information Technology

    9.9%  

Consumer Staples

    7.1%  

Health Care

    4.7%  

Communication Services

    3.1%  

Real Estate

    2.6%  

Utilities

    1.1%  

Energy

    1.1%  

Investment Company

    1.0%  

Other Assets less Liabilities‡

    1.5%  

Total

    100.0%  

 

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

 

Other assets includes investment of cash collateral for securities on loan (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Haseko Corp.

    1.3%  

WisdomTree Japan Hedged Equity Fund (DXJ)

    1.0%  

Matsui Securities Co., Ltd.

    0.9%  

Aozora Bank Ltd.

    0.8%  

Mitsubishi Gas Chemical Co., Inc.

    0.7%  

Casio Computer Co., Ltd.

    0.7%  

Seven Bank Ltd.

    0.7%  

Sumitomo Rubber Industries Ltd.

    0.7%  

Mebuki Financial Group, Inc.

    0.5%  

Toyota Boshoku Corp.

    0.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any). For a full list of holdings information for the underlying WisdomTree Fund, please visit www.wisdomtree.com.

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

The Fund returned -11.85% at net asset value (“NAV”) for the fiscal year ended March 31, 2020 (for more complete performance information please see the table below). International equities, including Japanese equities, suffered a significant drop in the first quarter of 2020. The Fund benefited the most from its investments in Consumer Staples. The Fund’s position in Consumer Discretionary contributed most negatively to performance. Additionally, small cap companies underperformed during the fiscal period when compared to their larger peers, particularly as the broad market correction took place. However, the Japanese yen rallied by 3.27% against the U.S. dollar during the fiscal year as investors fled to safe-haven currencies, which benefited the Fund.

Shareholder Expense Example (for the six-month period ended March 31, 2020)

 

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

Actual

   $ 1,000.00      $ 869.40        0.58   $ 2.71  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.10        0.58   $ 2.93  

Performance

 

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

Fund NAV Returns

       -11.85      -2.23      3.45      5.49

Fund Market Price Returns

       -13.16      -2.76      3.16      5.33

WisdomTree Japan SmallCap Dividend Index

       -11.73      -1.54      4.08      6.27

MSCI Japan Small Cap Index

       -11.12      -0.56      3.59      6.08

 

LOGO

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

 

14   WisdomTree Trust


Table of Contents

Description of Terms and Indexes (unaudited)

 

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

Brexit is an abbreviation for “British exit,” referring to the U.K.’s decision in a June 2016 referendum to leave the European Union.

Five Star Movement is a political party in Italy. The party was founded on October 4, 2009 by Beppe Grillo, a comedian and blogger, and Gianroberto Casaleggio, a web strategist.

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a country’s economic health.

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

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

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

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

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

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

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

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

The MSCI Japan Small Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of small cap stocks within Japan.

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

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

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

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

The WisdomTree International Dividend ex-Financials Index measures the performance of high dividend-yielding international stocks outside the financial sector.

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

 

 

WisdomTree Trust      15  


Table of Contents

Description of Terms and Indexes (unaudited) (continued)

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

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

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

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

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

The WisdomTree Japan SmallCap Dividend Index is comprised of dividend-paying small-capitalization companies in Japan.

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

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

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

 

 

16   WisdomTree Trust


Table of Contents

Description of Terms and Indexes (unaudited) (concluded)

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

* * * * * *

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

 

CURRENCY ABBREVIATIONS:          
AUD   Australian dollar   JPY   Japanese yen
CHF   Swiss franc   NOK   Norwegian krone
DKK   Danish krone   NZD   New Zealand dollar
EUR   Euro   SEK   Swedish krona
GBP   British pound   SGD   Singapore dollar
HKD   Hong Kong dollar   USD   U.S. dollar
ILS   Israeli new shekel    

 

OTHER ABBREVIATIONS:
CVA   Certificaten Van Aandelen (Certificate of Stock)
RSP   Risparmio Italian Savings Shares

 

WisdomTree Trust      17  


Table of Contents

Schedule of Investments

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.8%

 

Australia – 1.8%

 

BHP Group PLC

     28,678      $ 445,202  
Austria – 0.4%

 

Andritz AG*

     1,716        53,813  

Lenzing AG

     455        25,162  

Verbund AG(a)

     488        17,681  
     

 

 

 
Total Austria

 

     96,656  
Belgium – 0.9%

 

bpost S.A.

     7,743        54,629  

Melexis N.V.(a)

     597        31,574  

Umicore S.A.

     2,284        79,820  

Warehouses De Pauw CVA

     2,354        67,595  
     

 

 

 
Total Belgium

 

     233,618  
Denmark – 7.0%

 

Chr Hansen Holding A/S

     418        31,273  

Coloplast A/S Class B

     1,549        224,715  

Novo Nordisk A/S Class B

     15,243        917,050  

Novozymes A/S Class B

     1,334        60,670  

Orsted A/S(b)

     2,596        254,378  

Pandora A/S

     3,017        97,997  

Royal Unibrew A/S

     531        38,282  

SimCorp A/S

     139        11,670  

Tryg A/S

     2,908        71,537  

Vestas Wind Systems A/S

     837        68,011  
     

 

 

 
Total Denmark

 

     1,775,583  
Finland – 4.0%

 

Elisa Oyj(a)

     2,216        137,332  

Kesko Oyj Class B

     1,033        58,487  

Kone Oyj Class B

     4,444        251,708  

Konecranes Oyj

     919        15,736  

Metsa Board Oyj*(a)

     7,993        43,571  

Metso Oyj(a)

     1,709        40,729  

Neste Oyj

     5,532        187,259  

Nokian Renkaat Oyj(a)

     2,589        62,696  

Stora Enso Oyj Class R

     11,313        114,772  

TietoEVRY Oyj(a)

     1,692        36,723  

Valmet Oyj(a)

     1,512        29,647  

Wartsila Oyj Abp(a)

     6,471        47,501  
     

 

 

 
Total Finland

 

     1,026,161  
France – 16.0%

 

BioMerieux

     271        30,509  

Bureau Veritas S.A.

     3,439        65,318  

Cie Plastic Omnium S.A.

     1,968        27,673  

Dassault Systemes SE

     442        65,473  

Gaztransport Et Technigaz S.A.

     489        35,949  

Hermes International

     288        198,706  

Ingenico Group S.A.

     423        44,993  

Ipsen S.A.

     288        14,909  

Kering S.A.

     915        477,796  

L’Oreal S.A.

     2,826        740,788  

Legrand S.A.

     1,622        104,079  

LVMH Moet Hennessy Louis Vuitton SE

     2,888      1,072,500  

Metropole Television S.A.

     2,673        29,975  

Peugeot S.A.(a)

     11,036        147,309  

Remy Cointreau S.A.(a)

     262        28,647  

Rubis SCA

     877        36,625  

Safran S.A.

     1,921        168,921  

Sartorius Stedim Biotech

     172        34,537  

SEB S.A.

     225        28,021  

Sopra Steria Group

     255        27,966  

Teleperformance

     252        52,481  

Thales S.A.

     1,302        109,118  

Trigano S.A.

     240        15,300  

Valeo S.A.

     4,166        69,710  

Vinci S.A.

     5,436        449,735  
     

 

 

 
Total France

 

     4,077,038  
Germany – 9.6%

 

adidas AG

     897        202,654  

Beiersdorf AG

     690        70,077  

Carl Zeiss Meditec AG Bearer Shares

     218        21,133  

CTS Eventim AG & Co. KGaA

     667        30,138  

Deutsche Post AG Registered Shares

     16,035        435,902  

Deutsche Wohnen SE Bearer Shares

     2,612        99,479  

Duerr AG

     865        17,739  

Fielmann AG

     794        46,305  

Fuchs Petrolub SE

     922        29,541  

Henkel AG & Co. KGaA

     1,878        138,784  

Hochtief AG

     1,068        70,898  

Hugo Boss AG

     1,238        31,393  

Infineon Technologies AG

     7,574        111,611  

LEG Immobilien AG

     699        78,769  

MTU Aero Engines AG

     242        35,409  

SAP SE

     5,432        612,715  

Scout24 AG(b)

     554        33,281  

Siemens Healthineers AG(b)

     6,301        249,207  

Siltronic AG

     926        69,356  

Symrise AG

     653        60,903  
     

 

 

 
Total Germany

 

     2,445,294  
Ireland – 1.2%

 

CRH PLC

     7,130        194,412  

DCC PLC

     652        41,231  

Glanbia PLC

     1,397        15,129  

Kerry Group PLC Class A

     465        53,675  
     

 

 

 
Total Ireland

 

     304,447  
Italy – 1.6%

 

Davide Campari-Milano SpA

     2,338        16,803  

De’ Longhi SpA

     1,057        17,675  

DiaSorin SpA

     149        19,733  

Ferrari N.V.

     515        79,988  

FinecoBank Banca Fineco SpA

     7,051        64,138  

Freni Brembo SpA(a)

     3,111        23,195  

IMA Industria Macchine Automatiche SpA(a)

     417        24,388  

Moncler SpA

     1,090        39,815  

RAI Way SpA(b)

     6,245        33,679  

 

See Notes to Financial Statements.

 

18   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2020

 

 

 

Investments    Shares      Value  

Recordati SpA

     1,747      $ 73,877  

Salvatore Ferragamo SpA(a)

     1,284        17,047  
     

 

 

 
Total Italy

 

     410,338  
Kazakhstan – 0.0%

 

KAZ Minerals PLC

     2,510        10,930  
Netherlands – 3.7%

 

ASM International N.V.

     447        44,800  

ASML Holding N.V.

     1,700        452,248  

BE Semiconductor Industries N.V.

     2,038        62,166  

Corbion N.V.

     705        20,932  

Euronext N.V.(b)

     600        44,636  

GrandVision N.V.(a)(b)

     1,329        36,369  

Koninklijke DSM N.V.

     1,387        157,515  

TKH Group N.V. CVA

     423        11,780  

Wolters Kluwer N.V.

     1,577        111,055  
     

 

 

 
Total Netherlands

 

     941,501  
Norway – 2.2%

 

Austevoll Seafood ASA

     3,492        24,575  

Elkem ASA(b)

     24,967        31,384  

Leroy Seafood Group ASA

     7,983        38,877  

Mowi ASA

     8,319        125,684  

Schibsted ASA Class B

     848        15,036  

Telenor ASA

     21,508        311,120  

TGS Nopec Geophysical Co. ASA

     1,622        18,041  
     

 

 

 
Total Norway

 

     564,717  
Portugal – 1.2%

 

Altri, SGPS, S.A.

     4,225        16,791  

Galp Energia, SGPS, S.A.

     12,680        144,627  

Jeronimo Martins, SGPS, S.A.

     4,559        82,239  

Navigator Co. S.A. (The)

     20,809        49,273  
     

 

 

 
Total Portugal

 

     292,930  
Spain – 4.2%

 

Cie Automotive S.A.

     1,246        19,223  

Ence Energia y Celulosa S.A.(a)

     6,263        17,180  

Gestamp Automocion S.A.(a)(b)

     6,460        16,473  

Grifols S.A.

     2,399        81,601  

Industria de Diseno Textil S.A.

     33,903        880,154  

Prosegur Cash S.A.(b)

     24,242        23,301  

Prosegur Cia de Seguridad S.A.

     8,629        21,663  
     

 

 

 
Total Spain

 

     1,059,595  
Sweden – 4.3%

 

AAK AB

     1,738        28,400  

Alfa Laval AB

     3,353        58,294  

Atlas Copco AB Class A

     5,357        180,537  

Atlas Copco AB Class B

     3,135        92,711  

Atrium Ljungberg AB Class B

     1,785        27,889  

Axfood AB

     2,752        56,164  

Bonava AB Class B

     1,420        6,151  

Epiroc AB Class A

     3,718        36,948  

Epiroc AB Class B

     841        8,354  

Essity AB Class B

     3,942        121,749  

Evolution Gaming Group AB(b)

     822      28,042  

Hexpol AB

     3,836        23,076  

Indutrade AB

     1,170        31,884  

Intrum AB(a)

     1,809        24,165  

Investment AB Latour Class B(a)

     4,549        65,014  

Lifco AB Class B

     507        18,678  

Loomis AB Class B

     683        13,925  

Nibe Industrier AB Class B

     2,707        39,508  

Sandvik AB

     9,450        134,725  

Securitas AB Class B

     2,848        30,887  

Sweco AB Class B

     1,190        34,063  

Thule Group AB(b)

     1,287        22,447  
     

 

 

 
Total Sweden

 

     1,083,611  
Switzerland – 17.2%

 

Bucher Industries AG Registered Shares

     107        28,399  

Cie Financiere Richemont S.A. Registered Shares

     4,107        225,226  

EMS-Chemie Holding AG Registered Shares

     201        126,411  

Geberit AG Registered Shares

     259        114,035  

Georg Fischer AG Registered Shares

     47        32,498  

Givaudan S.A. Registered Shares

     74        229,063  

Kuehne + Nagel International AG Registered Shares

     1,586        217,767  

Logitech International S.A. Registered Shares

     1,278        55,265  

Lonza Group AG Registered Shares*

     261        108,495  

Partners Group Holding AG

     269        186,163  

Roche Holding AG Bearer Shares

     1,692        542,461  

Roche Holding AG Genusschein

     5,689        1,846,551  

Schindler Holding AG Participation Certificate

     140        30,733  

Schindler Holding AG Registered Shares

     475        100,346  

SFS Group AG

     489        36,389  

SGS S.A. Registered Shares

     66        152,935  

Sonova Holding AG Registered Shares

     333        60,023  

STMicroelectronics N.V.

     4,911        107,098  

Straumann Holding AG Registered Shares

     55        41,008  

Swatch Group AG (The) Bearer Shares

     300        59,981  

Vifor Pharma AG

     326        45,065  

Vontobel Holding AG Registered Shares

     888        43,686  
     

 

 

 
Total Switzerland

 

     4,389,598  
United Kingdom – 23.5%

 

Ashmore Group PLC

     10,091        44,644  

Ashtead Group PLC

     2,491        54,531  

Barratt Developments PLC

     23,382        127,857  

Brewin Dolphin Holdings PLC

     9,496        25,786  

British American Tobacco PLC

     35,806        1,224,931  

Britvic PLC

     2,510        21,833  

Burberry Group PLC

     3,185        52,308  

Carnival PLC

     2,964        36,069  

Compass Group PLC

     9,142        143,282  

Croda International PLC

     919        48,680  

Diageo PLC

     14,438        463,046  

Diversified Gas & Oil PLC

     14,211        15,506  

Domino’s Pizza Group PLC

     7,691        27,084  

DS Smith PLC

     18,182        62,088  

 

See Notes to Financial Statements.

 

WisdomTree Trust      19  


Table of Contents

Schedule of Investments (concluded)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2020

 

 

 

Investments    Shares      Value  

Electrocomponents PLC

     3,343      $ 21,397  

Evraz PLC

     43,997        126,347  

Ferrexpo PLC

     4,105        6,009  

Fresnillo PLC

     5,446        45,027  

Halma PLC

     1,601        38,135  

Hargreaves Lansdown PLC

     3,032        52,107  

Hastings Group Holdings PLC(b)

     16,261        37,200  

Hays PLC

     19,555        27,933  

HomeServe PLC

     1,864        24,453  

Howden Joinery Group PLC

     4,191        26,607  

IMI PLC

     2,857        26,477  

Intertek Group PLC

     825        48,345  

Johnson Matthey PLC

     1,242        27,690  

Moneysupermarket.com Group PLC

     7,798        29,385  

Next PLC

     1,221        61,649  

Pagegroup PLC

     5,754        25,984  

Reckitt Benckiser Group PLC

     5,304        404,467  

RELX PLC

     10,153        218,045  

Rightmove PLC

     5,649        34,140  

Rio Tinto PLC

     18,119        835,423  

Rotork PLC

     7,433        19,825  

Smiths Group PLC

     3,282        49,892  

Softcat PLC

     3,309        42,548  

Spectris PLC

     1,193        36,360  

Spirax-Sarco Engineering PLC

     401        40,598  

Unilever N.V.

     16,029        788,023  

Unilever PLC

     9,259      467,896  

Unite Group PLC (The)

     2,936        29,179  

Victrex PLC

     1,183        28,897  

WH Smith PLC

     1,170        16,553  
     

 

 

 
Total United Kingdom

 

     5,984,236  
TOTAL COMMON STOCKS
(Cost: $29,740,463)

 

     25,141,455  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.7%

 

United States – 1.7%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(c)

     
(Cost: $440,298)      440,298        440,298  
TOTAL INVESTMENTS IN SECURITIES – 100.5%
(Cost: $30,180,761)

 

     25,581,753  

Other Assets less Liabilities – (0.5)%

 

     (131,283
     

 

 

 
NET ASSETS – 100.0%

 

   $ 25,450,470  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $741,357 and the total market value of the collateral held by the Fund was $763,878. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $323,580.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

 

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

Canadian Imperial Bank of Commerce

    4/1/2020       17,734       DKK       2,376       EUR     $ 1     $  

Goldman Sachs

    4/1/2020       81,453       SEK       7,442       EUR       55        

Morgan Stanley & Co. International

    4/1/2020       47,464       CHF       44,714       EUR             (7

Morgan Stanley & Co. International

    4/1/2020       12,000       GBP       13,541       EUR       22        

Morgan Stanley & Co. International

    4/1/2020       92,983       NOK       8,110       EUR             (44
                                            $ 78     $ (51

 

See Notes to Financial Statements.

 

20   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 97.6%

 

Austria – 0.9%

 

AT&S Austria Technologie & Systemtechnik AG

     30,824      $ 453,548  

Palfinger AG

     22,010        401,381  

Porr AG(a)

     32,378        535,033  

S IMMO AG

     45,674        882,039  

S&T AG

     17,314        328,472  

Schoeller-Bleckmann Oilfield Equipment AG

     8,306        273,413  
     

 

 

 
Total Austria

 

     2,873,886  
Belgium – 4.3%

 

Bekaert S.A.

     60,699        1,018,345  

bpost S.A.

     720,883        5,086,060  

D’ieteren S.A./N.V.

     45,273        2,242,863  

Econocom Group S.A./N.V.

     320,987        510,342  

Euronav N.V.

     103,545        1,183,866  

Fagron

     24,286        479,128  

Greenyard N.V.*(a)

     95,386        407,137  

Ontex Group N.V.

     81,377        1,419,726  

Orange Belgium S.A.

     58,780        1,034,522  

Recticel S.A.

     62,089        333,823  
     

 

 

 
Total Belgium

 

     13,715,812  
Denmark – 3.6%

 

Alm Brand A/S

     233,576        1,699,409  

D/S Norden A/S(a)

     34,640        394,748  

Matas A/S

     101,987        639,593  

NNIT A/S(a)(b)

     30,650        386,685  

Per Aarsleff Holding A/S

     16,259        358,612  

Ringkjoebing Landbobank A/S

     20,647        1,159,739  

Scandinavian Tobacco Group A/S Class A(b)

     253,611        2,552,593  

Schouw & Co. A/S

     17,937        1,188,978  

Spar Nord Bank A/S

     145,168        891,184  

Sydbank A/S

     157,768        2,229,371  
     

 

 

 
Total Denmark

 

     11,500,912  
Finland – 6.3%

 

Aktia Bank Oyj

     60,835        481,276  

Atria Oyj

     34,417        311,554  

Cargotec Oyj Class B

     58,521        1,087,112  

Caverion Oyj

     35,600        166,209  

Citycon Oyj(a)

     164,309        1,014,121  

Kemira Oyj

     208,163        2,016,833  

Metsa Board Oyj*

     682,152        3,718,506  

Oriola Oyj Class B

     200,192        360,683  

Outokumpu Oyj(a)

     785,453        1,956,374  

Raisio Oyj Class V(a)

     153,562        498,748  

Rovio Entertainment Oyj(a)(b)

     72,710        333,645  

Sanoma Oyj

     98,252        900,728  

Terveystalo Oyj*(b)

     66,142        590,029  

TietoEVRY Oyj(a)

     134,597        2,921,241  

Tokmanni Group Corp.

     124,589        1,244,019  

Uponor Oyj

     129,859        1,182,649  

YIT Oyj(a)

     325,368        1,443,035  
     

 

 

 
Total Finland

 

     20,226,762  
France – 4.5%

 

Akka Technologies(a)

     6,924      188,035  

AKWEL

     16,922        198,674  

Albioma S.A.

     27,579        818,562  

Beneteau S.A.(a)

     71,802        479,405  

Chargeurs S.A.(a)

     31,750        321,900  

Coface S.A.

     193,016        1,238,953  

Derichebourg S.A.

     241,567        656,287  

Elior Group S.A.(a)(b)

     174,130        1,148,296  

Europcar Mobility Group(a)(b)

     174,258        278,968  

Haulotte Group S.A.(a)

     35,650        161,749  

Interparfums S.A.(a)

     21,987        738,232  

IPSOS

     54,328        1,132,617  

Jacquet Metal Service S.A.

     32,257        301,911  

Kaufman & Broad S.A.

     33,211        1,028,359  

Maisons du Monde S.A.(a)(b)

     35,714        286,263  

Manitou BF S.A.(a)

     28,012        422,930  

Mersen S.A.

     13,549        248,273  

Nexans S.A.

     17,339        514,062  

Quadient

     43,324        760,596  

Rallye S.A.(a)

     119,589        846,363  

Television Francaise 1(a)

     310,508        1,697,392  

Trigano S.A.

     16,436        1,047,799  
     

 

 

 
Total France

 

     14,515,626  
Germany – 9.7%

 

Aareal Bank AG

     167,111        2,786,195  

AURELIUS Equity Opportunities SE & Co. KGaA

     41,166        760,653  

Aurubis AG

     59,694        2,475,872  

BayWa AG

     16,270        453,448  

Bilfinger SE

     56,090        945,328  

CANCOM SE

     14,387        616,291  

CropEnergies AG

     58,807        514,272  

Dermapharm Holding SE

     29,540        1,228,444  

Deutsche Pfandbriefbank AG(b)

     406,056        3,114,360  

Deutz AG

     123,024        453,560  

DIC Asset AG

     109,996        1,142,964  

Elmos Semiconductor AG

     15,301        317,984  

Encavis AG

     118,329        1,200,988  

GFT Technologies SE

     45,057        384,634  

Hamburger Hafen und Logistik AG

     73,014        1,018,257  

Indus Holding AG

     24,662        639,978  

Jenoptik AG

     26,176        427,952  

JOST Werke AG(b)

     16,400        396,788  

PATRIZIA AG

     46,409        1,069,368  

Pfeiffer Vacuum Technology AG

     4,921        706,264  

RHOEN-KLINIKUM AG

     23,329        455,640  

RIB Software SE(a)

     30,293        949,306  

Salzgitter AG

     47,657        565,273  

Siltronic AG

     81,971        6,139,490  

Takkt AG

     81,635        634,184  

VERBIO Vereinigte BioEnergie AG

     47,017        430,256  

Wacker Neuson SE

     64,729        713,080  

Wuestenrot & Wuerttembergische AG

     28,018        429,784  
     

 

 

 
Total Germany

 

     30,970,613  

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Table of Contents

Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2020

 

 

 

Investments    Shares      Value  
Ireland – 1.3%

 

C&C Group PLC

     427,864      $ 1,044,083  

Greencore Group PLC

     536,138        1,096,562  

Hibernia REIT PLC

     611,982        713,130  

Irish Continental Group PLC

     187,712        667,333  

Origin Enterprises PLC

     153,507        336,535  

Total Produce PLC

     361,980        337,605  
     

 

 

 
Total Ireland

 

     4,195,248  
Italy – 9.0%

 

Anima Holding SpA(b)

     750,989        2,017,208  

Aquafil SpA(a)

     44,937        165,672  

Ascopiave SpA

     274,499        1,013,518  

Avio SpA

     26,138        328,672  

Banca Farmafactoring SpA(b)

     605,854        3,144,379  

Banca IFIS SpA

     160,011        1,562,592  

Banca Popolare di Sondrio SCPA

     386,272        584,471  

Banca Sistema SpA(a)(b)

     300,122        356,312  

BasicNet SpA

     54,630        198,411  

Biesse SpA(a)

     29,931        297,218  

BPER Banca(a)

     578,474        1,777,246  

Brunello Cucinelli SpA

     23,832        723,823  

Cairo Communication SpA(a)

     312,629        539,933  

Cementir Holding N.V.

     115,206        621,810  

Credito Emiliano SpA

     298,429        1,257,413  

Datalogic SpA(a)

     56,966        667,564  

doValue SpA(b)

     73,680        456,777  

Esprinet SpA

     107,942        381,375  

Falck Renewables SpA

     162,180        850,255  

Fiera Milano SpA(a)

     88,692        270,542  

Fincantieri SpA(a)

     606,300        372,215  

Gruppo MutuiOnline SpA

     22,677        379,207  

Immobiliare Grande Distribuzione SIIQ SpA

     190,745        784,856  

La Doria SpA

     31,537        303,131  

Maire Tecnimont SpA(a)

     448,991        711,887  

MARR SpA

     57,833        816,061  

Piaggio & C. SpA

     467,751        836,581  

RAI Way SpA(b)

     88,392        476,697  

Reply SpA

     7,316        447,131  

Rizzoli Corriere Della Sera Mediagroup SpA(a)

     1,112,883        886,527  

SAES Getters SpA(a)

     18,685        380,929  

Saras SpA

     1,902,270        1,774,177  

Societa Cattolica di Assicurazioni SC

     285,407        1,412,991  

Tod’s SpA(a)

     23,391        782,806  

Unieuro SpA(a)(b)

     51,980        353,047  

Zignago Vetro SpA

     62,249        743,134  
     

 

 

 
Total Italy

 

     28,676,568  
Morocco – 0.1%

 

Vivo Energy PLC(b)

     311,911        261,059  
Netherlands – 4.3%

 

Accell Group N.V.

     18,841        261,310  

AMG Advanced Metallurgical Group N.V.(a)

     20,601        291,598  

Arcadis N.V.

     83,559        1,329,435  

BE Semiconductor Industries N.V.

     213,226        6,504,152  

Brunel International N.V.(a)

     32,562      180,787  

Corbion N.V.

     40,747        1,209,843  

ForFarmers N.V.

     149,298        923,930  

Intertrust N.V.(b)

     108,554        1,356,673  

Koninklijke BAM Groep N.V.

     316,238        442,415  

Sligro Food Group N.V.

     15,653        232,897  

TKH Group N.V. CVA

     36,848        1,026,151  
     

 

 

 
Total Netherlands

 

     13,759,191  
Norway – 5.9%

 

American Shipping Co. ASA*

     141,218        259,278  

Atea ASA*

     100,823        845,872  

Austevoll Seafood ASA

     274,178        1,929,507  

Borregaard ASA

     83,260        767,505  

Elkem ASA(b)

     2,279,124        2,864,912  

Europris ASA(b)

     412,140        1,193,130  

Fjordkraft Holding ASA(b)

     180,918        1,171,548  

Grieg Seafood ASA

     122,116        1,124,523  

Kitron ASA

     337,616        275,854  

Kongsberg Gruppen ASA

     130,554        1,622,445  

Kvaerner ASA(a)

     725,617        436,020  

Norway Royal Salmon ASA

     29,145        577,294  

Ocean Yield ASA(a)

     184,042        410,112  

Sbanken ASA(b)

     87,331        422,475  

Scatec Solar ASA(a)(b)

     42,798        538,388  

Selvaag Bolig ASA

     83,088        366,344  

SpareBank 1 Nord Norge

     205,057        1,017,376  

SpareBank 1 SMN(a)

     207,848        1,338,018  

Sparebanken Vest

     52,344        245,246  

Veidekke ASA

     155,658        1,291,838  

XXL ASA*(a)(b)

     398,441        178,333  
     

 

 

 
Total Norway

 

     18,876,018  
Portugal – 2.3%

 

Altri, SGPS, S.A.

     307,332        1,221,411  

Corticeira Amorim, SGPS, S.A.

     39,187        355,593  

CTT-Correios de Portugal S.A.

     229,247        574,521  

Mota-Engil, SGPS, S.A.(a)

     347,389        419,290  

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

     953,148        2,426,354  

Semapa-Sociedade de Investimento e Gestao

     39,209        333,421  

Sonae, SGPS, S.A.

     3,250,772        2,102,694  
     

 

 

 
Total Portugal

 

     7,433,284  
Spain – 3.6%

 

Applus Services S.A.

     56,387        361,944  

Atresmedia Corp. de Medios de Comunicacion S.A.(a)

     673,551        1,847,635  

Construcciones y Auxiliar de Ferrocarriles S.A.

     15,763        488,611  

Ence Energia y Celulosa S.A.(a)

     564,790        1,549,290  

Euskaltel S.A.(b)

     197,357        1,459,547  

Faes Farma S.A.

     334,656        1,301,729  

Liberbank S.A.

     2,069,509        310,187  

Melia Hotels International S.A.(a)

     158,233        673,650  

Metrovacesa S.A.(a)(b)

     141,554        790,580  

Sacyr S.A.

     842,251        1,286,431  

Tubacex S.A.

     85,239        119,717  

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Unicaja Banco S.A.(b)

     2,550,777      $ 1,483,386  
     

 

 

 
Total Spain

 

     11,672,707  
Sweden – 14.3%

 

AddNode Group AB

     16,227        239,121  

AddTech AB Class B

     32,342        798,129  

Ahlstrom-Munksjo Oyj(a)

     92,843        1,136,892  

Alimak Group AB(b)

     38,551        340,853  

Ambea AB(b)

     41,950        185,029  

Arjo AB Class B

     154,285        769,891  

Atrium Ljungberg AB Class B

     105,241        1,644,308  

Avanza Bank Holding AB

     153,318        1,281,299  

Betsson AB*

     255,047        1,028,148  

Bilia AB Class A

     187,527        1,160,250  

BioArctic AB(a)(b)

     49,555        307,602  

BioGaia AB Class B

     12,602        534,215  

Biotage AB

     36,562        367,919  

Bonava AB Class B(a)

     130,586        565,696  

Bravida Holding AB(b)

     157,703        1,116,593  

Bufab AB

     32,218        248,113  

Catena AB(a)

     26,802        783,146  

Clas Ohlson AB Class B

     127,339        926,025  

Coor Service Management Holding AB(b)

     143,149        701,463  

Dios Fastigheter AB

     176,303        1,179,778  

Dustin Group AB(b)

     93,186        442,054  

Fagerhult AB(a)

     112,918        445,622  

Granges AB

     75,398        374,414  

HMS Networks AB(a)

     16,576        205,784  

Inwido AB

     76,598        442,222  

JM AB(a)

     129,897        2,263,564  

KNOW IT AB

     21,279        292,090  

Kungsleden AB

     197,701        1,496,571  

Lagercrantz Group AB Class B

     36,927        431,598  

LeoVegas AB(a)(b)

     142,839        411,749  

Lindab International AB

     45,553        354,026  

Midsona AB Class B(a)

     69,286        313,293  

Mycronic AB(a)

     79,475        971,408  

NCC AB Class B

     114,406        1,504,598  

NetEnt AB*(a)

     497,655        1,243,171  

New Wave Group AB Class B

     50,946        140,892  

Nobia AB

     418,013        1,491,864  

Nobina AB(b)

     200,736        1,096,099  

Nolato AB Class B

     19,405        880,185  

Nordic Waterproofing Holding A/S(b)

     48,148        364,960  

NP3 Fastigheter AB

     32,541        230,237  

Paradox Interactive AB(a)

     27,299        437,547  

Peab AB Class B

     457,077        3,305,466  

Platzer Fastigheter Holding AB Class B

     67,904        484,554  

Pricer AB Class B

     217,389        344,919  

Ratos AB Class B

     198,619        414,972  

Resurs Holding AB(b)

     409,174        1,409,108  

Rottneros AB

     323,831        296,778  

Samhallsbyggnadsbolaget i Norden AB

     1,102,367        2,114,010  

Scandi Standard AB

     77,512        470,187  

Scandic Hotels Group AB(b)

     149,182        449,306  

Sectra AB Class B*(a)

     13,922      528,344  

Semcon AB

     54,175        252,894  

SkiStar AB

     56,477        434,934  

Tethys Oil AB

     34,313        165,336  

Thule Group AB(b)

     96,790        1,688,112  

Troax Group AB

     10,328        95,694  

Vitrolife AB

     17,389        251,506  

Wihlborgs Fastigheter AB

     135,791        1,895,485  
     

 

 

 
Total Sweden

 

     45,750,023  
Switzerland – 3.1%

 

Arbonia AG*(a)

     47,729        377,373  

Bobst Group S.A. Registered Shares(a)

     9,104        413,258  

Comet Holding AG Registered Shares*

     3,187        328,895  

Daetwyler Holding AG Bearer Shares

     7,255        1,166,739  

EFG International AG*

     210,491        1,200,879  

Huber + Suhner AG Registered Shares

     11,917        746,390  

Landis+Gyr Group AG*

     29,557        2,034,516  

Mobilezone Holding AG Registered Shares*

     83,708        724,999  

Swissquote Group Holding S.A. Registered Shares

     13,035        755,115  

u-blox Holding AG*

     5,493        337,511  

Valiant Holding AG Registered Shares

     21,189        1,699,412  
     

 

 

 
Total Switzerland

 

     9,785,087  
United Kingdom – 24.4%

 

A.G. Barr PLC

     46,722        279,237  

Amigo Holdings PLC(b)

     107,162        20,330  

Arrow Global Group PLC(a)

     224,488        297,839  

Ascential PLC(b)

     175,459        536,939  

Bakkavor Group PLC(b)

     161,697        210,521  

Balfour Beatty PLC

     284,204        763,296  

Biffa PLC(b)

     159,254        355,046  

Big Yellow Group PLC

     94,934        1,181,843  

Bodycote PLC

     209,700        1,467,799  

Brewin Dolphin Holdings PLC

     332,071        901,736  

Card Factory PLC

     537,389        218,825  

CareTech Holdings PLC

     92,331        435,046  

Central Asia Metals PLC

     249,198        482,647  

Chemring Group PLC

     176,459        438,695  

Chesnara PLC

     95,457        344,433  

Clarkson PLC

     18,595        532,614  

Clipper Logistics PLC(a)

     83,599        155,488  

CMC Markets PLC(b)

     409,963        915,001  

Coats Group PLC

     509,110        268,164  

Computacenter PLC

     61,192        1,085,013  

Concentric AB

     36,758        359,503  

Cranswick PLC

     19,633        900,239  

Daily Mail & General Trust PLC Class A Non-Voting Shares

     190,191        1,608,343  

Dart Group PLC

     31,743        216,872  

Devro PLC

     173,797        343,075  

Diploma PLC

     46,914        938,880  

DiscoverIE Group PLC

     52,580        320,115  

Diversified Gas & Oil PLC

     855,320        933,288  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Table of Contents

Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2020

 

 

 

Investments    Shares      Value  

Dixons Carphone PLC

     1,925,796      $ 1,864,465  

Domino’s Pizza Group PLC(a)

     374,010        1,317,061  

Drax Group PLC

     402,238        766,587  

EMIS Group PLC

     36,257        467,552  

Empiric Student Property PLC

     743,553        609,421  

Equiniti Group PLC(b)

     196,027        430,223  

Essentra PLC

     270,977        883,003  

Euromoney Institutional Investor PLC

     60,107        603,690  

FDM Group Holdings PLC

     74,353        681,314  

Ferrexpo PLC

     354,968        519,588  

Galliford Try Holdings PLC

     326,506        532,622  

Games Workshop Group PLC

     16,895        907,090  

Gamma Communications PLC

     17,246        213,842  

Genus PLC

     14,414        582,648  

Go-Ahead Group PLC (The)

     52,081        533,736  

GoCo Group PLC

     257,400        195,328  

Halfords Group PLC

     350,167        303,064  

Hastings Group Holdings PLC(b)

     997,496        2,281,980  

Helical PLC

     63,167        274,134  

Hill & Smith Holdings PLC

     42,463        503,616  

Hilton Food Group PLC

     45,015        602,817  

Hochschild Mining PLC

     171,357        226,073  

Hollywood Bowl Group PLC

     127,316        236,009  

Hunting PLC

     53,054        115,123  

Hyve Group PLC

     495,003        120,914  

IntegraFin Holdings PLC

     169,617        915,929  

International Personal Finance PLC

     196,334        185,505  

James Fisher & Sons PLC

     16,080        250,825  

James Halstead PLC

     78,469        472,867  

John Laing Group PLC(b)

     276,415        1,163,948  

Jupiter Fund Management PLC

     684,822        1,698,290  

Keller Group PLC

     88,687        578,429  

Liontrust Asset Management PLC

     43,080        502,120  

M&C Saatchi PLC(a)

     162,682        63,944  

Marshalls PLC

     112,039        813,393  

Marston’s PLC

     848,573        433,922  

Mears Group PLC

     131,406        219,965  

Midwich Group PLC

     48,498        237,534  

Mitie Group PLC

     214,202        172,640  

Moneysupermarket.com Group PLC

     304,782        1,148,482  

Morgan Advanced Materials PLC

     261,202        599,497  

Morgan Sindall Group PLC

     40,599        604,089  

Morses Club PLC

     173,085        83,271  

Motorpoint group PLC

     106,181        250,152  

NCC Group PLC

     173,530        357,180  

Numis Corp. PLC

     95,610        248,958  

OneSavings Bank PLC

     344,689        1,071,912  

Oxford Instruments PLC

     16,891        268,083  

Pagegroup PLC

     335,270        1,514,045  

Paragon Banking Group PLC

     275,138        1,134,007  

Pets at Home Group PLC

     436,626        1,393,549  

Pharos Energy PLC

     310,771        46,241  

Photo-Me International PLC

     542,214        262,876  

Polar Capital Holdings PLC(a)

     113,443        541,555  

Polypipe Group PLC

     115,243      657,320  

Premier Miton Group PLC

     130,364        135,782  

Provident Financial PLC

     118,967        320,251  

PZ Cussons PLC

     364,307        867,307  

QinetiQ Group PLC

     273,347        1,091,376  

Rank Group PLC(a)

     215,262        346,455  

Reach PLC

     295,026        382,645  

Redde Northgate PLC

     384,074        661,963  

Renew Holdings PLC

     65,374        304,788  

Renewi PLC

     1,783,487        518,582  

Robert Walters PLC

     48,005        174,405  

RPS Group PLC

     292,107        124,234  

RWS Holdings PLC

     76,598        435,473  

Sabre Insurance Group PLC(b)

     284,187        1,021,895  

Safestore Holdings PLC

     114,563        909,846  

Saga PLC

     3,117,021        655,496  

Savills PLC

     102,744        1,051,029  

Senior PLC

     316,226        275,453  

SIG PLC

     576,677        166,321  

Smart Metering Systems PLC

     28,599        234,045  

Softcat PLC

     123,880        1,592,884  

Speedy Hire PLC

     492,524        299,856  

Spire Healthcare Group PLC(b)

     365,295        353,752  

Spirent Communications PLC

     341,198        879,983  

St. Modwen Properties PLC

     88,291        361,820  

SThree PLC

     140,050        397,670  

Stock Spirits Group PLC

     167,037        339,673  

Superdry PLC

     107,833        143,468  

Synthomer PLC

     271,388        817,713  

TalkTalk Telecom Group PLC

     705,725        743,367  

TBC Bank Group PLC

     39,954        359,172  

Telecom Plus PLC

     54,958        846,363  

TI Fluid Systems PLC(b)

     426,680        777,721  

TP ICAP PLC

     688,924        2,890,719  

TT Electronics PLC

     117,323        223,304  

Tyman PLC

     248,600        474,091  

U & I Group PLC

     175,485        173,204  

Ultra Electronics Holdings PLC

     47,108        1,172,904  

Vertu Motors PLC

     509,990        130,583  

Vesuvius PLC

     222,022        887,555  

Vistry Group PLC

     427,000        3,049,682  

Vitec Group PLC (The)

     33,410        265,131  

Watkin Jones PLC

     199,679        382,777  

Wincanton PLC

     116,108        362,800  

XPS Pensions Group PLC

     251,638        343,220  
     

 

 

 
Total United Kingdom

 

     78,120,013  
TOTAL COMMON STOCKS
(Cost: $472,666,376)

 

     312,332,809  
EXCHANGE-TRADED FUND – 1.3%

 

United States – 1.3%

 

WisdomTree International MidCap Dividend Fund(c)

     
(Cost: $4,180,950)      90,000        4,217,400  

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2020

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 6.8%

 

United States – 6.8%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(d)

     
(Cost: $21,783,808)      21,783,808      $ 21,783,808  
TOTAL INVESTMENTS IN SECURITIES – 105.7%
(Cost: $498,631,134)

 

     338,334,017  

Other Assets less Liabilities – (5.7)%

 

     (18,103,136
     

 

 

 
NET ASSETS – 100.0%

 

   $ 320,230,881  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $28,239,204. The Fund also had securities on loan having a total market value of $750,095 that were sold and pending settlement. The total market value of the collateral held by the Fund was $30,768,906. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $8,985,098.

 

(b) 

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

 

(c) 

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

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree International MidCap Dividend Fund

  $ 3,133,558     $ 24,296,627     $ 22,878,412     $ (346,879   $ 12,506     $ 4,217,400     $ 153,386  

 

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

Citibank N.A.

    4/2/2020       1,495,831       USD       14,852,214       SEK     $     $ (3,226

Deutsche Bank AG

    4/2/2020       1,278,800       NOK       98,948       GBP             (911

JP Morgan Chase Bank N.A.

    4/2/2020       3,540,000       USD       2,848,934       GBP       7,463        

Morgan Stanley & Co. International

    4/1/2020       824,800       EUR       730,932       GBP             (1,307

Societe Generale

    4/2/2020       133,700       CHF       111,653       GBP             (260

Standard Chartered Bank

    4/2/2020       1,156,068       USD       7,836,938       DKK       3,712        
                                            $ 11,175     $ (5,704

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Table of Contents

Schedule of Investments

WisdomTree International Dividend ex-Financials Fund (DOO)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 97.9%

 

Australia – 7.5%

 

BHP Group Ltd.(a)

     51,437      $ 912,349  

BHP Group PLC

     65,592        1,018,262  

Rio Tinto Ltd.

     18,666        966,172  

South32 Ltd.

     671,109        724,978  

Sydney Airport

     295,850        1,012,209  

Wesfarmers Ltd.

     75,409        1,581,701  

Woodside Petroleum Ltd.

     74,508        830,424  

Woolworths Group Ltd.

     42,478        912,553  
     

 

 

 
Total Australia

 

     7,958,648  
China – 2.2%

 

China Mobile Ltd.

     167,500        1,245,839  

CNOOC Ltd.

     1,081,000        1,133,872  
     

 

 

 
Total China

 

     2,379,711  
Denmark – 0.9%

 

Novo Nordisk A/S Class B

     15,754        947,793  
Finland – 2.9%

 

Fortum Oyj

     83,722        1,228,681  

UPM-Kymmene Oyj(a)

     68,643        1,889,743  
     

 

 

 
Total Finland

 

     3,118,424  
France – 7.8%

 

Bouygues S.A.

     47,526        1,393,392  

Capgemini SE

     4,927        416,274  

Danone S.A.

     10,446        672,124  

Engie S.A.

     129,180        1,334,083  

Orange S.A.

     100,391        1,226,566  

Renault S.A.(a)

     32,352        628,603  

Sanofi

     15,556        1,367,896  

TOTAL S.A.(a)

     32,009        1,242,964  
     

 

 

 
Total France

 

     8,281,902  
Germany – 8.2%

 

BASF SE

     24,529        1,161,224  

Bayer AG Registered Shares

     27,628        1,602,139  

Bayerische Motoren Werke AG

     25,132        1,299,248  

Daimler AG Registered Shares

     41,074        1,240,284  

Deutsche Post AG Registered Shares

     43,683        1,187,495  

Deutsche Telekom AG Registered Shares

     83,449        1,081,743  

Evonik Industries AG

     55,201        1,155,057  
     

 

 

 
Total Germany

 

     8,727,190  
Hong Kong – 1.3%

 

Power Assets Holdings Ltd.

     224,500        1,342,499  
Italy – 3.9%

 

Enel SpA

     224,018        1,558,150  

Eni SpA

     120,701        1,221,090  

Snam SpA

     286,498        1,321,570  
     

 

 

 
Total Italy

 

     4,100,810  
Japan – 21.2%

 

Astellas Pharma, Inc.

     59,400        919,433  

Canon, Inc.

     55,900        1,221,510  

FANUC Corp.

     9,700        1,316,785  

Fujitsu Ltd.

     9,400      849,400  

Hitachi Ltd.

     20,900        608,482  

Honda Motor Co., Ltd.

     51,400        1,156,982  

Japan Tobacco, Inc.

     81,400        1,505,020  

Komatsu Ltd.

     61,500        1,013,179  

Marubeni Corp.

     234,100        1,168,819  

Mitsubishi Corp.

     51,300        1,088,916  

Murata Manufacturing Co., Ltd.

     14,700        745,111  

Nomura Research Institute Ltd.

     32,500        688,806  

NTT DOCOMO, Inc.

     63,300        1,980,122  

Otsuka Holdings Co., Ltd.

     25,300        991,564  

Sekisui House Ltd.

     85,200        1,408,359  

Subaru Corp.(a)

     75,500        1,450,134  

Sumitomo Corp.

     100,000        1,147,701  

Takeda Pharmaceutical Co., Ltd.

     33,100        1,014,263  

Tokyo Electron Ltd.

     11,700        2,206,044  
     

 

 

 
Total Japan

 

     22,480,630  
Netherlands – 1.0%

 

Koninklijke Ahold Delhaize N.V.

     47,053        1,098,922  
Norway – 2.8%

 

Equinor ASA

     79,135        988,340  

Mowi ASA

     65,515        989,806  

Telenor ASA

     66,041        955,302  
     

 

 

 
Total Norway

 

     2,933,448  
Portugal – 2.6%

 

EDP – Energias de Portugal S.A.

     394,358        1,582,851  

Galp Energia, SGPS, S.A.

     98,568        1,124,259  
     

 

 

 
Total Portugal

 

     2,707,110  
Singapore – 2.0%

 

Singapore Telecommunications Ltd.

     702,500        1,253,187  

Wilmar International Ltd.

     391,700        888,570  
     

 

 

 
Total Singapore

 

     2,141,757  
Spain – 5.5%

 

Endesa S.A.

     72,107        1,540,455  

Naturgy Energy Group S.A.

     55,354        978,780  

Red Electrica Corp. S.A.

     70,600        1,267,729  

Repsol S.A.

     124,392        1,137,228  

Telefonica S.A.

     206,831        947,157  
     

 

 

 
Total Spain

 

     5,871,349  
Sweden – 1.4%

 

Telia Co. AB

     419,118        1,510,190  
Switzerland – 3.4%

 

Kuehne + Nagel International AG Registered Shares

     10,447        1,434,431  

Novartis AG Registered Shares

     11,520        950,723  

Roche Holding AG Genusschein

     3,743        1,214,913  
     

 

 

 
Total Switzerland

 

     3,600,067  
United Kingdom – 23.3%

 

AstraZeneca PLC

     14,528        1,299,890  

BAE Systems PLC

     249,127        1,611,867  

BP PLC

     267,363        1,141,081  

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree International Dividend ex-Financials Fund (DOO)

March 31, 2020

 

 

 

Investments    Shares      Value  

British American Tobacco PLC

     60,813      $ 2,080,426  

BT Group PLC

     936,494        1,369,062  

Evraz PLC

     426,681        1,225,310  

Fiat Chrysler Automobiles N.V.

     133,006        959,123  

GlaxoSmithKline PLC

     81,470        1,530,030  

Imperial Brands PLC

     123,597        2,293,908  

National Grid PLC

     175,887        2,064,451  

Rio Tinto PLC

     27,531        1,269,387  

Royal Dutch Shell PLC Class A

     59,841        1,052,896  

Sage Group PLC (The)

     72,575        532,557  

SSE PLC

     192,487        3,114,700  

Unilever N.V.

     14,697        722,538  

Unilever PLC

     14,984        757,204  

Vodafone Group PLC

     1,174,610        1,645,797  
     

 

 

 
Total United Kingdom

 

     24,670,227  
TOTAL COMMON STOCKS
(Cost: $148,360,787)

 

     103,870,677  
EXCHANGE-TRADED FUND – 1.2%

 

United States – 1.2%

 

WisdomTree International LargeCap Dividend Fund(b)

     
(Cost: $1,359,781)      35,064        1,294,914  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.5%

 

United States – 1.5%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 0.24%(c)

     
(Cost: $1,528,478)      1,528,478      $ 1,528,478  

TOTAL INVESTMENTS IN SECURITIES – 100.6%

(Cost: $151,249,046)

 

 

     106,694,069  

Other Assets less Liabilities – (0.6)%

 

     (632,897
     

 

 

 
NET ASSETS – 100.0%

 

   $ 106,061,172  
(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $5,427,915 and the total market value of the collateral held by the Fund was $5,600,733. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $4,072,255.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree International LargeCap Dividend Fund

  $     $ 7,039,682     $ 5,706,960     $ 27,059     $ (64,867   $ 1,294,914     $ 107,669  

 

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

Citibank N.A.

    4/1/2020       9,000       GBP       111,794       SEK     $     $ (124

Citibank N.A.

    4/1/2020       219,680       USD       2,205,000       SEK             (2,874

Citibank N.A.

    4/2/2020       329,180       USD       300,000       EUR       5        

Citibank N.A.

    4/2/2020       27,518       USD       25,000       EUR       87        

Citibank N.A.

    4/2/2020       4,641       USD       500,000       JPY       9        

JP Morgan Chase Bank N.A.

    4/1/2020       83,000       AUD       513,280       SEK             (1,006

JP Morgan Chase Bank N.A.

    4/1/2020       49,000       CHF       512,917       SEK             (1,126

JP Morgan Chase Bank N.A.

    4/1/2020       51,000       DKK       75,679       SEK             (139

JP Morgan Chase Bank N.A.

    4/1/2020       345,000       EUR       3,823,152       SEK             (7,325

JP Morgan Chase Bank N.A.

    4/1/2020       81,000       GBP       1,010,156       SEK             (1,521

JP Morgan Chase Bank N.A.

    4/1/2020       422,000       HKD       546,799       SEK             (744

JP Morgan Chase Bank N.A.

    4/1/2020       29,000,000       JPY       2,695,769       SEK             (3,458

JP Morgan Chase Bank N.A.

    4/1/2020       346,000       NOK       328,051       SEK             (162

JP Morgan Chase Bank N.A.

    4/1/2020       51,000       SGD       359,850       SEK             (502

JP Morgan Chase Bank N.A.

    4/2/2020       8,581       USD       14,000       AUD       13        

Morgan Stanley & Co. International

    4/1/2020       3,500       DKK       55,811       JPY             (2

Morgan Stanley & Co. International

    4/1/2020       6,000       NOK       61,212       JPY       4        

Morgan Stanley & Co. International

    4/2/2020       12,433       USD       10,000       GBP       33        

UBS AG

    4/1/2020       498,749       USD       5,000,000       SEK             (5,909
                                            $ 151     $ (24,892

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Table of Contents

Schedule of Investments

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.0%

 

Australia – 6.0%

 

AGL Energy Ltd.

     41,016      $ 431,535  

Alumina Ltd.

     387,120        345,928  

APA Group(a)

     59,521        373,770  

ARB Corp., Ltd.(a)

     17,810        155,770  

Aristocrat Leisure Ltd.

     19,463        254,328  

ASX Ltd.

     10,573        498,865  

Aurizon Holdings Ltd.

     96,261        249,217  

AusNet Services

     304,289        318,471  

Australia & New Zealand Banking Group Ltd.

     163,602        1,698,249  

Bendigo & Adelaide Bank Ltd.(a)

     31,212        119,778  

BHP Group Ltd.(a)

     145,461        2,580,073  

BHP Group PLC

     119,350        1,852,810  

Boral Ltd.

     76,431        95,898  

Brambles Ltd.

     52,682        340,497  

Caltex Australia Ltd.

     15,143        206,868  

Challenger Ltd.

     46,538        113,934  

Coca-Cola Amatil Ltd.

     60,047        324,886  

Cochlear Ltd.

     2,344        268,924  

Commonwealth Bank of Australia

     94,392        3,571,505  

Computershare Ltd.(a)

     22,605        134,342  

Crown Resorts Ltd.

     36,122        168,024  

CSL Ltd.

     7,227        1,312,301  

CSR Ltd.

     96,564        187,353  

Downer EDI Ltd.

     53,530        97,634  

Flight Centre Travel Group Ltd.(a)

     3,122        18,936  

Fortescue Metals Group Ltd.

     152,511        933,444  

Harvey Norman Holdings Ltd.(a)

     134,554        242,944  

Incitec Pivot Ltd.

     34,724        42,931  

Insurance Australia Group Ltd.

     111,273        422,249  

JB Hi-Fi Ltd.(a)

     16,343        280,077  

Macquarie Group Ltd.

     16,786        880,985  

Magellan Financial Group Ltd.(a)

     10,906        290,497  

Medibank Pvt Ltd.

     155,079        252,477  

Metcash Ltd.(a)

     112,811        217,495  

Mineral Resources Ltd.(a)

     19,548        167,142  

National Australia Bank Ltd.

     176,427        1,801,143  

New Hope Corp., Ltd.(a)

     106,137        90,296  

Orica Ltd.

     18,869        177,274  

Origin Energy Ltd.

     47,589        127,576  

OZ Minerals Ltd.

     42,660        191,909  

Pendal Group Ltd.

     46,128        125,635  

Perpetual Ltd.(a)

     8,713        134,546  

Platinum Asset Management Ltd.(a)

     69,672        142,000  

Premier Investments Ltd.

     29,266        221,933  

Qantas Airways Ltd.

     92,031        181,938  

Ramsay Health Care Ltd.

     7,704        270,089  

REA Group Ltd.(a)

     5,930        279,432  

Rio Tinto Ltd.

     21,763        1,126,476  

Santos Ltd.

     81,512        170,622  

Seven Group Holdings Ltd.(a)

     17,940        123,417  

Sims Ltd.

     33,827        126,500  

Sonic Healthcare Ltd.

     25,900        385,682  

South32 Ltd.

     309,003      333,806  

Southern Cross Media Group Ltd.

     640,934        64,727  

Spark Infrastructure Group

     164,350        196,151  

Star Entertainment Group Ltd. (The)

     126,010        165,817  

Suncorp Group Ltd.

     56,416        315,254  

Sydney Airport

     127,500        436,223  

Tabcorp Holdings Ltd.

     164,876        255,308  

Tassal Group Ltd.

     185,441        397,247  

Telstra Corp., Ltd.

     402,863        756,977  

Transurban Group(a)

     111,373        820,717  

Treasury Wine Estates Ltd.

     25,371        155,749  

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

     16,582        172,229  

Wesfarmers Ltd.

     82,180        1,723,722  

Westpac Banking Corp.

     227,830        2,300,816  

Whitehaven Coal Ltd.(a)

     117,155        138,032  

Woodside Petroleum Ltd.

     65,529        730,349  

Woolworths Group Ltd.

     45,439        976,164  

Worley Ltd.(a)

     25,246        95,029  
     

 

 

 
Total Australia

 

     35,160,922  
Austria – 0.5%

 

Andritz AG*

     9,744        305,566  

Erste Group Bank AG

     23,313        431,922  

Oesterreichische Post AG(a)

     9,636        344,683  

OMV AG

     21,396        590,675  

Raiffeisen Bank International AG

     14,750        216,467  

Telekom Austria AG*

     46,023        320,667  

UNIQA Insurance Group AG

     30,517        236,403  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     13,783        259,215  
     

 

 

 
Total Austria

 

     2,705,598  
Belgium – 1.1%

 

Ageas

     9,614        399,911  

Anheuser-Busch InBev S.A./N.V.

     53,682        2,383,788  

Bekaert S.A.

     9,369        157,183  

bpost S.A.

     38,870        274,240  

Colruyt S.A.

     3,326        179,809  

KBC Group N.V.

     25,687        1,184,337  

Proximus SADP

     23,820        545,469  

Solvay S.A.(a)

     5,437        396,007  

UCB S.A.

     5,759        499,206  

Umicore S.A.

     9,983        348,880  
     

 

 

 
Total Belgium

 

     6,368,830  
China – 3.4%

 

China Everbright International Ltd.

     290,000        166,497  

China Jinmao Holdings Group Ltd.

     790,000        511,657  

China Mobile Ltd.

     1,120,481        8,333,965  

China Overseas Land & Investment Ltd.

     349,175        1,083,443  

China Resources Power Holdings Co., Ltd.

     452,000        498,017  

China South City Holdings Ltd.

     3,370,000        326,091  

China Traditional Chinese Medicine Holdings Co., Ltd.

     546,000        248,665  

China Unicom Hong Kong Ltd.

     610,000        351,791  

CITIC Ltd.

     1,198,000        1,253,503  

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  

CITIC Telecom International Holdings Ltd.

     773,000      $ 256,307  

CNOOC Ltd.

     2,961,700        3,106,558  

CPMC Holdings Ltd.(a)

     1,308,000        421,887  

CSPC Pharmaceutical Group Ltd.

     184,000        368,432  

Fosun International Ltd.

     392,487        453,713  

Guangdong Investment Ltd.

     294,000        566,690  

Lenovo Group Ltd.

     707,003        379,457  

Shougang Fushan Resources Group Ltd.

     2,034,000        370,014  

Sino-Ocean Group Holding Ltd.

     1,064,000        270,431  

Sinotruk Hong Kong Ltd.

     180,000        299,578  

Sun Art Retail Group Ltd.

     293,500        435,466  
     

 

 

 
Total China

 

     19,702,162  
Denmark – 1.4%

 

Chr Hansen Holding A/S

     3,068        229,532  

Coloplast A/S Class B

     7,147        1,036,824  

Danske Bank A/S

     69,349        784,163  

H. Lundbeck A/S

     11,034        327,412  

Novo Nordisk A/S Class B

     52,655        3,167,832  

Novozymes A/S Class B

     5,045        229,446  

Orsted A/S(b)

     10,893        1,067,388  

Pandora A/S(a)

     11,259        365,709  

Scandinavian Tobacco Group A/S Class A(b)

     24,544        247,035  

Sydbank A/S

     13,201        186,539  

Tryg A/S

     18,836        463,367  

Vestas Wind Systems A/S

     4,111        334,040  
     

 

 

 
Total Denmark

 

     8,439,287  
Finland – 1.8%

 

Elisa Oyj(a)

     12,477        773,233  

Fortum Oyj

     58,280        855,301  

Kesko Oyj Class B

     5,465        309,418  

Kone Oyj Class B

     19,992        1,132,348  

Metso Oyj

     11,973        285,344  

Neste Oyj

     27,015        914,463  

Nordea Bank Abp

     451,978        2,558,306  

Orion Oyj Class B(a)

     8,087        330,803  

Sampo Oyj Class A

     37,789        1,103,772  

Stora Enso Oyj Class R

     57,132        579,614  

UPM-Kymmene Oyj(a)

     38,987        1,073,313  

Valmet Oyj(a)

     12,038        236,039  

YIT Oyj(a)

     42,392        188,012  
     

 

 

 
Total Finland

 

     10,339,966  
France – 10.1%

 

Accor S.A.

     12,018        329,669  

Aeroports de Paris

     3,345        320,968  

Air Liquide S.A.

     12,658        1,620,151  

Amundi S.A.(b)

     10,881        642,925  

AXA S.A.

     135,637        2,349,693  

BNP Paribas S.A.

     93,342        2,817,562  

Bollore S.A.

     79,202        218,130  

Bollore S.A. Non-Voting Shares*

     503        1,648  

Bouygues S.A.

     20,810        610,119  

Bureau Veritas S.A.

     20,290        385,376  

Capgemini SE

     5,182        437,818  

Carrefour S.A.(a)

     26,758      423,228  

Cie de Saint-Gobain

     23,882        580,823  

Cie Generale des Etablissements Michelin SCA

     6,047        537,839  

CNP Assurances

     41,080        402,069  

Coface S.A.

     36,569        234,733  

Covivio

     6,751        380,377  

Credit Agricole S.A.

     197,554        1,450,166  

Danone S.A.

     22,127        1,423,712  

Dassault Systemes SE

     2,290        339,215  

Edenred

     9,499        397,004  

Eiffage S.A.

     4,397        311,187  

Electricite de France S.A.

     100,411        791,725  

Elior Group S.A.(a)(b)

     20,458        134,910  

Elis S.A.

     15,573        147,636  

Engie S.A.

     162,436        1,677,529  

EssilorLuxottica S.A.

     9,685        1,044,409  

Eutelsat Communications S.A.

     29,292        306,172  

Getlink SE

     27,183        327,794  

Hermes International

     1,183        816,212  

ICADE

     7,404        586,150  

Kering S.A.

     3,231        1,687,168  

Klepierre S.A.

     26,083        502,846  

L’Oreal S.A.

     10,922        2,863,018  

Lagardere SCA

     17,949        226,487  

Legrand S.A.

     8,195        525,850  

LVMH Moet Hennessy Louis Vuitton SE

     10,636        3,949,832  

Metropole Television S.A.

     18,507        207,536  

Natixis S.A.(a)

     261,804        852,314  

Nexity S.A.

     8,403        258,350  

Orange S.A.

     149,070        1,821,320  

Pernod Ricard S.A.

     6,129        870,557  

Peugeot S.A.(a)

     40,551        541,277  

Publicis Groupe S.A.

     10,418        298,582  

Renault S.A.(a)

     24,297        472,093  

Safran S.A.

     9,392        825,873  

Sanofi

     58,324        5,128,642  

Schneider Electric SE

     21,323        1,838,510  

SCOR SE

     12,060        265,715  

SEB S.A.

     1,358        169,122  

Societe BIC S.A.

     4,179        233,168  

Societe Generale S.A.

     86,839        1,462,421  

Sodexo S.A.(a)

     8,002        541,211  

Suez

     50,468        513,668  

Television Francaise 1(a)

     25,575        139,806  

Thales S.A.

     6,166        516,760  

TOTAL S.A.(a)

     167,206        6,492,892  

Veolia Environnement S.A.

     30,611        654,125  

Vinci S.A.

     22,764        1,883,327  

Vivendi S.A.

     35,409        758,596  
     

 

 

 
Total France

 

     58,548,015  
Germany – 7.5%

 

adidas AG

     3,594        811,970  

Allianz SE Registered Shares

     19,097        3,287,294  

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Table of Contents

Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  

BASF SE

     55,609      $ 2,632,578  

Bayer AG Registered Shares

     57,052        3,308,427  

Bayerische Motoren Werke AG

     35,919        1,856,903  

Beiersdorf AG

     3,477        353,129  

Bilfinger SE

     4,249        71,612  

Brenntag AG

     9,204        341,652  

Commerzbank AG

     55,067        199,907  

Continental AG

     9,485        682,831  

Covestro AG(b)

     15,714        480,540  

Daimler AG Registered Shares

     83,300        2,515,354  

Deutsche Boerse AG

     5,395        739,958  

Deutsche Pfandbriefbank AG(b)

     34,780        266,755  

Deutsche Post AG Registered Shares

     60,912        1,655,855  

Deutsche Telekom AG Registered Shares

     245,130        3,177,600  

Deutsche Wohnen SE Bearer Shares

     10,419        396,814  

E.ON SE

     107,686        1,115,535  

Evonik Industries AG

     30,578        639,831  

Fielmann AG

     5,549        323,611  

Freenet AG

     22,312        393,301  

Fresenius Medical Care AG & Co. KGaA

     8,243        544,487  

Fresenius SE & Co. KGaA

     13,652        508,260  

Hannover Rueck SE

     6,495        933,590  

HeidelbergCement AG

     8,131        348,751  

Hella GmbH & Co. KGaA

     9,134        266,192  

Henkel AG & Co. KGaA

     7,444        550,110  

Hochtief AG

     4,268        283,325  

Infineon Technologies AG

     34,873        513,891  

Jenoptik AG

     2,876        47,020  

LEG Immobilien AG

     3,661        412,549  

Merck KGaA

     3,358        344,949  

METRO AG

     42,732        368,912  

MTU Aero Engines AG

     1,993        291,612  

Muenchener Rueckversicherungs – Gesellschaft AG Registered Shares

     6,722        1,357,870  

Rheinmetall AG

     2,879        202,365  

RWE AG

     21,749        571,784  

Salzgitter AG

     4,577        54,289  

SAP SE

     20,704        2,335,356  

Siemens AG Registered Shares

     35,023        2,977,095  

Siemens Healthineers AG(b)

     21,273        841,356  

Software AG

     5,873        175,925  

Symrise AG

     5,064        472,301  

Talanx AG

     13,315        452,322  

Telefonica Deutschland Holding AG

     378,741        938,781  

TUI AG

     64,232        289,597  

Uniper SE

     16,201        399,795  

United Internet AG Registered Shares

     6,456        190,343  

Volkswagen AG

     9,958        1,326,467  

Wacker Neuson SE

     11,952        131,668  
     

 

 

 
Total Germany

 

     43,382,419  
Hong Kong – 2.7%

 

AIA Group Ltd.

     205,365        1,858,669  

Bank of East Asia Ltd. (The)

     117,272        252,370  

BOC Hong Kong Holdings Ltd.

     509,444     1,409,846  

CLP Holdings Ltd.

     93,000       857,900  

Dah Sing Financial Holdings Ltd.

     60,400       171,828  

Galaxy Entertainment Group Ltd.

     117,000       624,179  

Hang Lung Properties Ltd.

     229,000       465,038  

Hang Seng Bank Ltd.

     80,800       1,381,259  

Henderson Land Development Co., Ltd.

     186,859       712,392  

Hong Kong & China Gas Co., Ltd.

     437,268       720,985  

Hong Kong Exchanges & Clearing Ltd.

     31,589       952,858  

MTR Corp., Ltd.

     185,553       958,779  

New World Development Co., Ltd.

     492,772       530,225  

PCCW Ltd.

     610,000       336,051  

Power Assets Holdings Ltd.

     110,000       657,795  

Sino Land Co., Ltd.

     280,400       355,976  

SJM Holdings Ltd.

     295,000       249,294  

Sun Hung Kai Properties Ltd.

     106,500       1,404,263  

Swire Pacific Ltd. Class A

     50,500       325,443  

Swire Properties Ltd.

     191,400       538,327  

Television Broadcasts Ltd.(a)

     164,300       204,556  

Wharf Holdings Ltd. (The)(a)

     147,000       260,586  

Wheelock & Co., Ltd.

     89,000       607,426  
    

 

 

 
Total Hong Kong

 

    15,836,045  
Ireland – 0.3%

 

AIB Group PLC*

     210,895       236,496  

Bank of Ireland Group PLC

     57,567       108,897  

CRH PLC

     24,481       667,515  

DCC PLC

     4,683       296,141  

Kerry Group PLC Class A

     3,797       438,291  

Total Produce PLC

     193,074       180,073  
    

 

 

 
Total Ireland

 

    1,927,413  
Israel – 0.3%

 

Bank Leumi Le-Israel BM

     42,147       233,524  

Harel Insurance Investments & Financial Services Ltd.

     33,688       184,751  

Israel Chemicals Ltd.

     67,788       216,158  

Mediterranean Towers Ltd.

     114,502       213,308  

Mehadrin Ltd.*

      0       3  

Naphtha Israel Petroleum Corp., Ltd.*

     45,359       161,564  

Paz Oil Co., Ltd.

     3,843       324,174  

Phoenix Holdings Ltd. (The)

     43,342       208,290  
    

 

 

 
Total Israel

 

    1,541,772  
Italy – 3.3%

 

A2A SpA

     208,803       259,581  

ACEA SpA

     18,568       295,012  

Anima Holding SpA(b)

     105,596       283,638  

Assicurazioni Generali SpA(a)

     67,413       917,954  

ASTM SpA

     9,448       165,662  

Azimut Holding SpA

     16,787       242,770  

Banca Farmafactoring SpA(b)

     76,518       397,128  

Banca Generali SpA

     10,466       219,571  

Banca Mediolanum SpA

     53,655       273,759  

Banca Popolare di Sondrio SCPA

     185,302       280,382  

Credito Emiliano SpA

     71,669       301,973  

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Enel SpA

     510,693      $ 3,552,110  

Eni SpA

     227,408        2,300,607  

ERG SpA

     16,606        297,183  

Ferrari N.V.

     2,162        335,793  

Freni Brembo SpA(a)

     22,460        167,458  

Hera SpA

     80,641        289,164  

Infrastrutture Wireless Italiane SpA(b)

     36,693        397,783  

Intesa Sanpaolo SpA

     1,853,222        3,026,585  

Italgas SpA

     62,354        341,337  

Maire Tecnimont SpA(a)

     87,929        139,414  

MARR SpA

     11,967        168,862  

Piaggio & C. SpA

     106,654        190,753  

Pirelli & C SpA(b)

     51,261        183,644  

Poste Italiane SpA(b)

     75,392        638,628  

Recordati SpA

     7,001        296,058  

Saras SpA

     181,558        169,332  

Snam SpA

     218,789        1,009,239  

Societa Cattolica di Assicurazioni SC

     42,501        210,414  

Terna Rete Elettrica Nazionale SpA

     128,016        810,486  

UniCredit SpA

     65,494        513,607  

Unipol Gruppo SpA

     65,848        226,437  

UnipolSai Assicurazioni SpA

     211,288        519,312  
     

 

 

 
Total Italy

 

     19,421,636  
Japan – 22.2%

 

Aeon Co., Ltd.

     31,400        697,778  

AEON Financial Service Co., Ltd.(a)

     16,900        181,281  

AGC, Inc.

     12,400        305,420  

Aisin Seiki Co., Ltd.

     15,600        384,960  

Alps Alpine Co., Ltd.(a)

     15,100        146,727  

Amada Holdings Co., Ltd.

     29,000        229,142  

ANA Holdings, Inc.(a)

     14,000        342,235  

Aoyama Trading Co., Ltd.(a)

     31,500        270,779  

Aozora Bank Ltd.(a)

     14,000        267,408  

Asahi Group Holdings Ltd.

     14,000        455,190  

Asahi Kasei Corp.

     61,900        438,526  

Astellas Pharma, Inc.

     70,200        1,086,603  

Azbil Corp.

     17,100        444,152  

Bandai Namco Holdings, Inc.(a)

     10,700        519,464  

Bridgestone Corp.

     31,000        954,222  

Brother Industries Ltd.

     17,200        263,525  

Canon, Inc.

     72,400        1,582,063  

Casio Computer Co., Ltd.

     18,200        255,749  

Chiba Bank Ltd. (The)(a)

     72,100        315,903  

Chubu Electric Power Co., Inc.

     30,600        432,122  

Chugai Pharmaceutical Co., Ltd.

     14,300        1,655,782  

Citizen Watch Co., Ltd.(a)

     56,200        199,906  

Cosmo Energy Holdings Co., Ltd.

     9,900        139,483  

Dai-ichi Life Holdings, Inc.

     48,733        584,814  

Daido Steel Co., Ltd.(a)

     5,000        161,178  

Daiichi Sankyo Co., Ltd.

     13,700        943,410  

Daikin Industries Ltd.

     6,400        780,770  

Daito Trust Construction Co., Ltd.

     4,600        428,873  

Daiwa House Industry Co., Ltd.

     26,200        649,812  

Denka Co., Ltd.

     13,500      284,744  

Denso Corp.

     30,400        983,061  

Dentsu Group, Inc.(a)

     10,900        210,720  

DIC Corp.

     12,400        274,866  

Disco Corp.

     2,300        455,079  

East Japan Railway Co.

     9,600        727,059  

Eisai Co., Ltd.

     10,700        786,084  

FamilyMart Co., Ltd.(a)

     15,100        271,074  

FANUC Corp.

     14,400        1,954,815  

Fast Retailing Co., Ltd.

     1,300        532,138  

FCC Co., Ltd.

     15,100        220,860  

FIDEA Holdings Co., Ltd.

     362,600        342,598  

Fuji Electric Co., Ltd.

     10,000        226,854  

FUJIFILM Holdings Corp.

     14,500        730,540  

Fujikura Ltd.(a)

     85,100        246,735  

Fujitsu Ltd.

     7,600        686,749  

Fukuoka Financial Group, Inc.

     14,400        190,880  

Gunma Bank Ltd. (The)

     117,700        357,608  

Hamamatsu Photonics K.K.

     9,400        384,864  

Hanwa Co., Ltd.

     9,400        146,457  

Haseko Corp.(a)

     39,500        423,338  

Hino Motors Ltd.

     38,200        205,588  

Hiroshima Bank Ltd. (The)

     97,400        406,905  

Hitachi High-Tech Corp.

     5,700        421,342  

Hitachi Ltd.

     25,500        742,407  

Hitachi Metals Ltd.(a)

     28,100        296,474  

Hitachi Zosen Corp.

     144,300        465,160  

Hokuhoku Financial Group, Inc.

     29,800        267,208  

Honda Motor Co., Ltd.

     78,900        1,775,990  

Horiba Ltd.

     5,600        279,079  

Hoya Corp.

     9,900        843,685  

Hyakugo Bank Ltd. (The)

     120,200        336,255  

Idemitsu Kosan Co., Ltd.(a)

     12,651        290,391  

IHI Corp.

     11,200        130,929  

Isuzu Motors Ltd.

     42,600        282,264  

ITOCHU Corp.(a)

     78,000        1,620,258  

Iyo Bank Ltd. (The)

     100,700        510,239  

Japan Airlines Co., Ltd.(a)

     15,100        278,347  

Japan Exchange Group, Inc.

     25,700        453,746  

Japan Post Holdings Co., Ltd.

     185,800        1,455,524  

Japan Post Insurance Co., Ltd.(a)

     26,200        325,452  

Japan Steel Works Ltd. (The)

     15,100        182,954  

Japan Tobacco, Inc.

     151,644        2,803,774  

Japan Wool Textile Co., Ltd. (The)

     20,900        181,596  

JSR Corp.

     15,400        284,306  

JTEKT Corp.

     26,800        182,465  

JXTG Holdings, Inc.

     185,800        637,147  

Kajima Corp.

     22,400        230,111  

Kaneka Corp.

     11,600        278,301  

Kanematsu Corp.

     23,400        240,383  

Kansai Electric Power Co., Inc. (The)

     52,900        589,738  

Kao Corp.

     11,900        973,341  

Kawasaki Heavy Industries Ltd.(a)

     13,800        200,567  

KDDI Corp.

     104,500        3,087,907  

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Table of Contents

Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Keihin Corp.(a)

     25,500      $ 596,429  

Keiyo Bank Ltd. (The)

     39,000        192,914  

Keyence Corp.

     1,400        451,688  

Kintetsu World Express, Inc.

     34,800        511,580  

Kirin Holdings Co., Ltd.

     29,600        586,078  

Kitz Corp.

     69,300        419,183  

Koito Manufacturing Co., Ltd.

     7,700        260,697  

Komatsu Ltd.

     51,100        841,845  

Kubota Corp.

     35,500        454,293  

Kuraray Co., Ltd.

     19,900        201,295  

Kyowa Kirin Co., Ltd.

     15,200        341,016  

Lawson, Inc.

     6,900        379,019  

Lintec Corp.

     2,000        42,129  

LIXIL Group Corp.

     18,500        230,490  

Mabuchi Motor Co., Ltd.

     8,800        262,480  

Makita Corp.

     12,600        386,911  

Marubeni Corp.

     95,700        477,813  

Marui Group Co., Ltd.

     16,700        280,770  

Mebuki Financial Group, Inc.

     145,000        295,493  

Michinoku Bank Ltd. (The)

     16,500        182,340  

Mitsubishi Chemical Holdings Corp.

     93,300        555,539  

Mitsubishi Corp.

     73,500        1,560,143  

Mitsubishi Electric Corp.

     84,300        1,042,476  

Mitsubishi Estate Co., Ltd.

     34,400        508,249  

Mitsubishi Gas Chemical Co., Inc.

     22,800        248,370  

Mitsubishi Heavy Industries Ltd.

     14,700        372,079  

Mitsubishi UFJ Financial Group, Inc.

     568,100        2,120,738  

Mitsui Chemicals, Inc.

     15,000        284,980  

Mitsui Fudosan Co., Ltd.

     25,800        447,028  

Mizuho Financial Group, Inc.

     1,267,000        1,450,616  

MS&AD Insurance Group Holdings, Inc.

     23,530        659,333  

Murata Manufacturing Co., Ltd.

     15,800        800,867  

NEC Corp.

     9,800        358,121  

NGK Insulators Ltd.

     22,400        294,019  

NGK Spark Plug Co., Ltd.

     14,000        197,379  

NHK Spring Co., Ltd.

     41,300        270,857  

Nichias Corp.

     15,100        283,103  

Nichiha Corp.

     8,400        159,355  

Nidec Corp.

     9,600        498,608  

Nifco, Inc.

     10,900        195,878  

Nihon Parkerizing Co., Ltd.

     14,300        148,358  

Nikon Corp.

     22,000        203,381  

Nintendo Co., Ltd.

     4,100        1,580,297  

Nippon Express Co., Ltd.

     6,800        333,213  

Nippon Steel Trading Corp.

     6,700        226,530  

Nippon Telegraph & Telephone Corp.

     161,000        3,841,003  

Nishi-Nippon Financial Holdings, Inc.

     55,000        310,778  

Nishimatsu Construction Co., Ltd.

     15,100        289,677  

Nissin Kogyo Co., Ltd.

     15,100        308,280  

NOK Corp.

     23,900        264,117  

Nomura Real Estate Holdings, Inc.

     21,500        349,521  

Nomura Research Institute Ltd.

     29,200        618,865  

North Pacific Bank Ltd.

     231,800        438,027  

NSK Ltd.

     34,700        223,073  

NTN Corp.(a)

     107,000      187,328  

NTT Data Corp.

     37,900        365,115  

NTT DOCOMO, Inc.

     176,155        5,510,402  

Oji Holdings Corp.

     50,700        271,922  

Okasan Securities Group, Inc.(a)

     136,000        430,846  

Omron Corp.

     9,000        469,362  

Ono Pharmaceutical Co., Ltd.

     19,700        453,654  

Oracle Corp.

     5,300        463,452  

Oriental Land Co., Ltd.(a)

     3,900        499,264  

Otsuka Holdings Co., Ltd.

     20,100        787,764  

Panasonic Corp.

     109,600        837,571  

Pola Orbis Holdings, Inc.

     15,500        286,439  

Recruit Holdings Co., Ltd.

     22,000        569,793  

Resona Holdings, Inc.

     125,300        377,449  

Ricoh Co., Ltd.(a)

     29,100        214,028  

Rohm Co., Ltd.

     5,200        285,638  

Ryohin Keikaku Co., Ltd.

     15,000        168,681  

San-In Godo Bank Ltd. (The)

     72,400        366,845  

SBI Holdings, Inc.(a)

     14,000        204,641  

Secom Co., Ltd.

     8,600        714,894  

Seiko Epson Corp.(a)

     15,500        167,987  

Sekisui Chemical Co., Ltd.

     24,500        325,214  

Sekisui House Ltd.

     31,900        527,308  

Senshu Ikeda Holdings, Inc.

     270,300        408,123  

Seven & I Holdings Co., Ltd.

     28,900        957,310  

Sharp Corp.(a)

     23,100        242,865  

Shimizu Corp.

     50,900        398,411  

Shin-Etsu Chemical Co., Ltd.

     13,100        1,302,052  

Shionogi & Co., Ltd.

     11,900        586,099  

Siix Corp.(a)

     28,600        229,955  

SKY Perfect JSAT Holdings, Inc.

     131,900        469,173  

SMC Corp.

     1,300        550,924  

Softbank Corp.(a)

     143,500        1,827,065  

SoftBank Group Corp.

     15,100        529,839  

Sojitz Corp.

     101,600        239,048  

Sompo Holdings, Inc.

     14,000        433,532  

Sony Corp.

     12,100        719,690  

Sony Financial Holdings, Inc.

     19,700        333,397  

Stanley Electric Co., Ltd.

     14,000        276,486  

Subaru Corp.(a)

     50,200        964,195  

Sumitomo Chemical Co., Ltd.

     104,300        310,132  

Sumitomo Corp.

     65,200        748,301  

Sumitomo Forestry Co., Ltd.

     25,000        320,735  

Sumitomo Heavy Industries Ltd.

     9,900        178,916  

Sumitomo Mitsui Financial Group, Inc.(a)

     56,500        1,372,790  

Sumitomo Mitsui Trust Holdings, Inc.

     16,407        474,785  

Sundrug Co., Ltd.

     11,900        381,400  

Suntory Beverage & Food Ltd.

     10,900        412,454  

Suzuki Motor Corp.

     11,900        284,892  

Sysmex Corp.

     5,100        370,660  

T&D Holdings, Inc.

     38,400        314,442  

Taisei Corp.

     10,800        330,638  

Takeda Pharmaceutical Co., Ltd.

     67,900        2,080,619  

Tatsuta Electric Wire and Cable Co., Ltd.

     18,700        79,681  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Terumo Corp.

     14,200      $ 489,315  

Toda Corp.(a)

     63,500        369,983  

Toho Bank Ltd. (The)

     118,100        295,373  

Toho Co., Ltd.

     11,200        342,365  

Tohoku Electric Power Co., Inc.

     33,100        319,180  

Tokai Rika Co., Ltd.

     14,000        174,554  

Tokai Tokyo Financial Holdings, Inc.

     131,800        300,336  

Tokio Marine Holdings, Inc.

     25,500        1,169,237  

Tokyo Century Corp.(a)

     4,300        134,829  

Tokyo Electron Ltd.

     11,900        2,243,754  

Tokyo Gas Co., Ltd.

     18,100        428,545  

Tokyo Seimitsu Co., Ltd.

     14,000        399,426  

Tokyu Construction Co., Ltd.

     45,900        241,926  

Toray Industries, Inc.

     54,300        235,901  

Toshiba Corp.

     11,300        249,122  

Tosoh Corp.

     20,900        238,127  

TOTO Ltd.

     9,300        309,698  

Toyobo Co., Ltd.(a)

     39,800        421,392  

Toyoda Gosei Co., Ltd.

     15,100        259,325  

Toyota Boshoku Corp.

     23,000        274,198  

Toyota Motor Corp.

     120,810        7,275,122  

Toyota Tsusho Corp.

     17,100        403,285  

Trend Micro, Inc.

     9,100        450,132  

TS Tech Co., Ltd.

     8,000        189,560  

UACJ Corp.

     14,000        201,399  

Ube Industries Ltd.

     15,200        233,305  

Wacoal Holdings Corp.

     16,700        363,067  

West Japan Railway Co.

     8,820        604,258  

Yamaguchi Financial Group, Inc.

     49,200        278,916  

Yamaha Corp.

     6,900        269,404  

Yamaha Motor Co., Ltd.

     21,400        259,088  

Yamato Holdings Co., Ltd.(a)

     12,600        198,066  

Yamazen Corp.

     9,200        76,784  

Yokohama Rubber Co., Ltd. (The)

     17,500        217,706  

Yuasa Trading Co., Ltd.

     14,000        370,636  

Z Holdings Corp.

     214,010        689,875  
     

 

 

 
Total Japan

 

     129,242,949  
Netherlands – 2.2%

 

ABN AMRO Bank N.V. CVA(b)

     73,046        599,841  

Aegon N.V.

     171,179        434,630  

Akzo Nobel N.V.

     5,945        391,454  

ASML Holding N.V.

     7,258        1,930,834  

Euronext N.V.(b)

     4,316        321,083  

Heineken Holding N.V.

     7,299        559,417  

Heineken N.V.(a)

     11,963        999,707  

ING Groep N.V.

     276,496        1,450,637  

Koninklijke Ahold Delhaize N.V.

     47,562        1,110,809  

Koninklijke DSM N.V.

     7,246        822,895  

Koninklijke KPN N.V.

     209,486        500,172  

Koninklijke Philips N.V.

     30,578        1,238,562  

Koninklijke Vopak N.V.

     6,275        326,498  

NN Group N.V.

     14,780        398,947  

Randstad N.V.

     11,536        407,204  

SBM Offshore N.V.

     13,726      181,333  

Signify N.V.(b)

     10,840        210,408  

Wolters Kluwer N.V.

     10,212        719,145  
     

 

 

 
Total Netherlands

 

     12,603,576  
New Zealand – 0.5%

 

Air New Zealand Ltd.

     10,546        5,314  

Arvida Group Ltd.

     144,268        106,912  

Chorus Ltd.

     71,650        292,672  

Fisher & Paykel Healthcare Corp., Ltd.

     34,590        622,993  

Infratil Ltd.

     91,541        212,196  

Mercury NZ Ltd.

     138,466        346,418  

Meridian Energy Ltd.

     199,640        478,161  

SKYCITY Entertainment Group Ltd.

     84,511        93,691  

Spark New Zealand Ltd.

     185,480        449,194  

Vector Ltd.

     134,427        252,633  
     

 

 

 
Total New Zealand

 

     2,860,184  
Norway – 1.3%

 

Aker ASA Class A

     7,136        160,103  

Aker BP ASA

     39,372        497,165  

DNB ASA

     92,556        1,029,036  

Elkem ASA(b)

     113,998        143,298  

Equinor ASA

     188,658        2,356,204  

Gjensidige Forsikring ASA

     29,841        505,970  

Kvaerner ASA

     260,412        156,480  

Leroy Seafood Group ASA

     42,034        204,706  

Mowi ASA

     37,739        570,164  

Orkla ASA

     51,531        436,843  

SpareBank 1 SR-Bank ASA

     31,835        179,472  

Storebrand ASA

     44,622        177,409  

Telenor ASA

     84,300        1,219,424  

Yara International ASA

     6,524        204,586  
     

 

 

 
Total Norway

 

     7,840,860  
Portugal – 0.4%

 

Altri, SGPS, S.A.(a)

     28,461        113,111  

EDP – Energias de Portugal S.A.

     191,282        767,756  

Galp Energia, SGPS, S.A.

     49,675        566,589  

Jeronimo Martins, SGPS, S.A.

     22,665        408,849  

Navigator Co. S.A. (The)(a)

     85,721        202,976  

NOS, SGPS, S.A.

     52,137        174,597  
     

 

 

 
Total Portugal

 

     2,233,878  
Singapore – 1.8%

 

CapitaLand Ltd.

     223,000        446,360  

China Aviation Oil Singapore Corp., Ltd.

     518,400        311,291  

ComfortDelGro Corp., Ltd.

     164,300        175,395  

DBS Group Holdings Ltd.

     130,600        1,703,299  

Genting Singapore Ltd.

     825,800        400,184  

Jardine Cycle & Carriage Ltd.

     18,855        260,476  

Keppel Corp., Ltd.(a)

     87,500        325,087  

Olam International Ltd.

     328,500        329,919  

Oversea-Chinese Banking Corp., Ltd.

     167,969        1,019,245  

SATS Ltd.

     106,700        236,803  

Sembcorp Industries Ltd.

     125,400        136,510  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Table of Contents

Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Singapore Airlines Ltd.(a)

     70,400      $ 283,805  

Singapore Exchange Ltd.

     48,500        313,035  

Singapore Post Ltd.

     430,400        194,970  

Singapore Technologies Engineering Ltd.

     185,000        405,380  

Singapore Telecommunications Ltd.

     902,200        1,609,431  

StarHub Ltd.

     308,800        288,446  

United Overseas Bank Ltd.

     66,001        901,584  

Venture Corp., Ltd.

     16,600        158,206  

Wilmar International Ltd.

     272,700        618,619  

Yanlord Land Group Ltd.

     474,200        328,045  
     

 

 

 
Total Singapore

 

     10,446,090  
Spain – 3.7%

 

Acciona S.A.

     3,436        367,024  

ACS Actividades de Construccion y Servicios S.A.

     18,235        356,449  

Aena SME S.A.(b)

     6,804        742,986  

Applus Services S.A.

     29,214        187,522  

Banco Bilbao Vizcaya Argentaria S.A.

     355,517        1,137,311  

Banco Santander S.A.

     914,212        2,224,919  

Bolsas y Mercados Espanoles SHMSF S.A.

     11,433        414,733  

CaixaBank S.A.

     410,976        766,604  

Cellnex Telecom S.A.(b)

     9,690        440,711  

Cia de Distribucion Integral Logista Holdings S.A.

     14,226        227,742  

Cie Automotive S.A.

     8,032        123,912  

Enagas S.A.

     20,748        411,946  

Endesa S.A.

     67,759        1,447,567  

Euskaltel S.A.(b)

     34,239        253,213  

Ferrovial S.A.

     34,043        816,925  

Gestamp Automocion S.A.(b)

     8,399        21,418  

Grifols S.A.

     5,756        195,789  

Iberdrola S.A.

     307,412        3,030,375  

Industria de Diseno Textil S.A.

     119,605        3,105,059  

Mapfre S.A.

     145,312        248,174  

Mediaset Espana Comunicacion S.A.

     42,916        158,975  

Naturgy Energy Group S.A.

     59,011        1,043,444  

Prosegur Cash S.A.(b)

     152,244        146,336  

Prosegur Cia de Seguridad S.A.

     62,914        157,946  

Red Electrica Corp. S.A.

     29,217        524,635  

Repsol S.A.

     107,628        983,966  

Telefonica S.A.

     303,924        1,391,782  

Unicaja Banco S.A.(b)

     365,121        212,334  

Zardoya Otis S.A.

     50,668        341,912  
     

 

 

 
Total Spain

 

     21,481,709  
Sweden – 2.6%

 

Assa Abloy AB Class B

     27,062        512,686  

Atlas Copco AB Class A

     17,761        598,565  

Atlas Copco AB Class B

     21,838        645,814  

Axfood AB

     22,419        457,535  

Bilia AB Class A

     22,782        140,955  

Boliden AB

     19,501        356,847  

Bonava AB Class B(a)

     7,646        33,122  

Castellum AB

     18,588        315,188  

Essity AB Class B

     20,275        626,195  

Fabege AB

     25,082        322,268  

Hexpol AB

     26,999      162,413  

Husqvarna AB Class B

     27,563        138,932  

ICA Gruppen AB(a)

     10,903        459,881  

Investment AB Latour Class B(a)

     31,013        443,235  

JM AB(a)

     10,081        175,670  

NCC AB Class B

     16,458        216,446  

Peab AB Class B

     24,707        178,675  

Resurs Holding AB(b)

     49,449        170,292  

Samhallsbyggnadsbolaget i Norden AB

     104,105        199,642  

Sandvik AB

     51,460        733,644  

Securitas AB Class B

     21,483        232,985  

Skandinaviska Enskilda Banken AB Class A

     168,024        1,139,301  

SSAB AB Class A(a)

     118,539        272,667  

Svenska Cellulosa AB SCA Class B(a)

     39,066        396,074  

Svenska Handelsbanken AB Class A

     120,689        1,012,756  

Swedbank AB Class A

     115,726        1,294,773  

Swedish Match AB(a)

     7,414        425,038  

Tele2 AB Class B

     33,362        449,195  

Telefonaktiebolaget LM Ericsson Class B

     63,540        519,854  

Telia Co. AB(a)

     283,897        1,022,954  

Thule Group AB(b)

     8,294        144,656  

Volvo AB Class A

     14,695        176,796  

Volvo AB Class B

     77,181        930,905  
     

 

 

 
Total Sweden

 

     14,905,959  
Switzerland – 8.7%

 

ABB Ltd. Registered Shares

     98,205        1,725,984  

Adecco Group AG Registered Shares

     9,471        373,339  

Baloise Holding AG Registered Shares

     4,103        538,133  

Cembra Money Bank AG

     3,647        336,223  

Cie Financiere Richemont S.A. Registered Shares

     14,742        808,445  

Clariant AG Registered Shares*(a)

     24,482        411,555  

Coca-Cola HBC AG*

     13,731        295,737  

Credit Suisse Group AG Registered Shares*

     50,995        421,642  

Dufry AG Registered Shares*

     11,388        354,040  

EFG International AG*(a)

     41,600        237,333  

EMS-Chemie Holding AG Registered Shares

     896        563,502  

Flughafen Zurich AG Registered Shares

     2,194        247,167  

Geberit AG Registered Shares

     1,150        506,330  

Givaudan S.A. Registered Shares

     332        1,027,688  

Helvetia Holding AG Registered Shares

     2,785        239,771  

Julius Baer Group Ltd.*

     11,324        386,576  

Kuehne + Nagel International AG Registered Shares

     6,339        870,380  

LafargeHolcim Ltd. Registered Shares*

     31,257        1,142,316  

Logitech International S.A. Registered Shares

     12,918        558,616  

Lonza Group AG Registered Shares*

     1,375        571,573  

Nestle S.A. Registered Shares

     87,587        9,002,664  

Novartis AG Registered Shares

     94,837        7,826,711  

OC Oerlikon Corp. AG Registered Shares

     26,460        212,216  

Partners Group Holding AG

     772        534,268  

Roche Holding AG Bearer Shares

     5,707        1,829,685  

Roche Holding AG Genusschein

     25,740        8,354,759  

Schindler Holding AG Participation Certificate

     2,009        441,023  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  

SGS S.A. Registered Shares

     320      $ 741,502  

STMicroelectronics N.V.

     29,008        632,602  

Sunrise Communications Group AG*(b)

     5,964        480,177  

Swiss Life Holding AG Registered Shares

     1,708        581,484  

Swiss Re AG

     19,471        1,500,447  

Swisscom AG Registered Shares

     2,459        1,322,073  

UBS Group AG Registered Shares*

     240,901        2,252,277  

Vifor Pharma AG

     1,539        212,745  

Vontobel Holding AG Registered Shares

     7,899        388,603  

Zurich Insurance Group AG

     7,652        2,715,825  
     

 

 

 
Total Switzerland

 

     50,645,411  
United Kingdom – 17.2%

 

Admiral Group PLC

     19,284        533,220  

Aggreko PLC

     31,726        191,737  

Anglo American PLC

     65,093        1,143,206  

Antofagasta PLC

     59,003        565,533  

Ashmore Group PLC(a)

     45,746        202,387  

Associated British Foods PLC

     19,663        442,274  

AstraZeneca PLC

     50,953        4,559,010  

Aviva PLC

     261,325        870,021  

BAE Systems PLC

     177,558        1,148,811  

Balfour Beatty PLC

     114,053        306,316  

Barclays PLC

     730,063        851,923  

Barratt Developments PLC

     89,328        488,462  

Berkeley Group Holdings PLC

     4,403        197,361  

Bodycote PLC

     48,119        336,810  

BP PLC

     1,455,722        6,212,888  

Brewin Dolphin Holdings PLC

     107,136        290,927  

British American Tobacco PLC

     197,839        6,768,117  

BT Group PLC

     851,423        1,244,696  

Bunzl PLC

     10,572        213,607  

Burberry Group PLC

     16,557        271,918  

Carnival PLC

     23,252        282,951  

Centrica PLC

     835,571        394,534  

Chemring Group PLC

     91,575        227,665  

Cineworld Group PLC

     177,461        109,207  

Close Brothers Group PLC

     19,275        270,548  

CNH Industrial N.V.

     38,665        221,290  

Coca-Cola European Partners PLC

     16,547        629,112  

Compass Group PLC

     41,491        650,287  

Croda International PLC

     3,879        205,473  

Daily Mail & General Trust PLC Class A Non-Voting Shares(a)

     33,225        280,966  

Derwent London PLC

     8,283        335,846  

Diageo PLC

     64,179        2,058,305  

Direct Line Insurance Group PLC

     65,071        238,746  

Diversified Gas & Oil PLC

     173,355        189,157  

Domino’s Pizza Group PLC(a)

     100,564        354,132  

Drax Group PLC

     79,240        151,016  

Electrocomponents PLC

     33,249        212,814  

Empiric Student Property PLC

     312,475        256,107  

Essentra PLC

     55,766        181,718  

Evraz PLC

     197,638        567,562  

Fiat Chrysler Automobiles N.V.

     101,009      728,389  

Fresnillo PLC

     42,681        352,886  

GlaxoSmithKline PLC

     307,820        5,780,948  

Halfords Group PLC

     79,084        68,446  

Halma PLC

     16,308        388,447  

Hargreaves Lansdown PLC

     14,431        248,007  

Hays PLC

     209,702        299,543  

Howden Joinery Group PLC

     43,341        275,152  

HSBC Holdings PLC

     1,235,021        6,956,223  

Imperial Brands PLC

     124,470        2,310,110  

Inchcape PLC

     48,373        259,834  

Informa PLC

     43,400        238,180  

Intertek Group PLC

     5,418        317,495  

Land Securities Group PLC

     52,361        361,503  

Legal & General Group PLC

     341,104        819,892  

Lloyds Banking Group PLC

     3,973,142        1,576,479  

London Stock Exchange Group PLC

     7,586        684,776  

Marston’s PLC

     358,950        183,551  

Mediclinic International PLC

     60,917        203,489  

Meggitt PLC

     39,312        141,507  

Mondi PLC

     19,782        338,741  

Moneysupermarket.com Group PLC

     72,359        272,664  

National Grid PLC

     233,192        2,737,060  

Next PLC

     6,215        313,800  

Pagegroup PLC

     68,836        310,856  

Paragon Banking Group PLC

     67,731        279,160  

Pearson PLC

     25,244        172,971  

Pennon Group PLC

     35,168        473,349  

Persimmon PLC

     46,073        1,094,862  

Phoenix Group Holdings PLC

     53,545        416,019  

Prudential PLC

     87,115        1,118,529  

QinetiQ Group PLC

     95,670        381,976  

Quilter PLC(b)

     149,657        218,969  

Reckitt Benckiser Group PLC

     22,046        1,681,160  

Redrow PLC

     52,177        232,585  

RELX PLC

     52,032        1,117,436  

Rentokil Initial PLC

     50,704        243,812  

Rio Tinto PLC

     76,705        3,536,680  

Rolls-Royce Holdings PLC*

     37,859        159,889  

Rotork PLC

     84,359        224,997  

Royal Bank of Scotland Group PLC

     329,929        461,869  

Royal Dutch Shell PLC Class A

     289,985        5,102,255  

Royal Dutch Shell PLC Class B

     277,205        4,673,910  

RSA Insurance Group PLC

     47,272        246,417  

Sage Group PLC (The)

     54,585        400,546  

Segro PLC

     72,469        686,515  

Senior PLC

     149,358        130,101  

Severn Trent PLC

     14,313        404,641  

Signature Aviation PLC

     94,930        194,219  

Smith & Nephew PLC

     24,501        435,801  

Smiths Group PLC

     16,109        244,886  

Spectris PLC

     7,586        231,206  

Spirax-Sarco Engineering PLC

     3,323        336,427  

SSE PLC

     108,759        1,759,867  

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Table of Contents

Schedule of Investments (concluded)

WisdomTree International Equity Fund (DWM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Standard Chartered PLC

     92,175      $ 509,516  

Standard Life Aberdeen PLC

     207,717        576,674  

Synthomer PLC

     57,562        173,439  

Tate & Lyle PLC

     31,291        254,523  

Taylor Wimpey PLC

     135,371        197,228  

TechnipFMC PLC(a)

     33,942        233,438  

Tesco PLC

     304,470        863,783  

TI Fluid Systems PLC(b)

     112,567        205,179  

Unilever N.V.

     57,421        2,822,949  

Unilever PLC

     39,621        2,002,214  

United Utilities Group PLC

     38,943        435,938  

Vesuvius PLC

     70,443        281,603  

Vistry Group PLC

     30,298        216,392  

Vodafone Group PLC

     2,058,838        2,884,728  

WH Smith PLC

     20,149        285,065  

Whitbread PLC

     7,132        267,953  

WM Morrison Supermarkets PLC

     156,898        346,291  
     

 

 

 
Total United Kingdom

 

     100,042,605  

TOTAL COMMON STOCKS

(Cost: $689,318,097)

 

 

     575,677,286  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree International Dividend ex-Financials Fund(c)

     
(Cost: $456,750)      16,240        510,748  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.6%

 

United States – 3.6%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(d)

     
(Cost: $20,706,466)      20,706,466      20,706,466  

TOTAL INVESTMENTS IN SECURITIES – 102.7%

(Cost: $710,481,313)

 

 

     596,894,500  

Other Assets less Liabilities – (2.7)%

 

     (15,984,780
     

 

 

 
NET ASSETS – 100.0%

 

   $ 580,909,720  
 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $18,936, which represents 0.00% of net assets.

 

* 

Non-income producing security.

 

 

Share amount represents a fractional share.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $37,636,396. The Fund also had securities on loan having a total market value of $257,611 that were sold and pending settlement. The total market value of the collateral held by the Fund was $39,915,191. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $19,208,725.

 

(b) 

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

 

(c) 

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

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree International Dividend ex-Financials Fund

  $ 19,842     $ 12,447,363     $ 12,170,329     $ 160,005     $ 53,867     $ 510,748     $ 135,984  

 

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

Canadian Imperial Bank of Commerce

    4/1/2020       1,990,366       HKD       256,764       USD     $ 28     $  

Citibank N.A.

    4/1/2020       374,029       SGD       262,533       USD       155        

Credit Suisse International

    4/1/2020       521,215       ILS       118,677       GBP       188        

Goldman Sachs

    4/1/2020       286,603       CHF       2,952,587       SEK             (1,794

Morgan Stanley & Co. International

    4/1/2020       847,531       NOK       64,944       GBP       182        

Societe Generale

    4/1/2020       130,500,902       JPY       12,017,211       SEK             (4,071

UBS AG

    4/1/2020       45,000       EUR       49,410       USD             (33
                                            $ 553     $ (5,898

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree International High Dividend Fund (DTH)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.9%      
Australia – 7.7%      

AGL Energy Ltd.

     28,730      $ 302,272  

Alumina Ltd.(a)

     232,058        207,365  

APA Group(a)

     34,620        217,401  

Aurizon Holdings Ltd.

     57,870        149,824  

AusNet Services

     167,338        175,137  

Australia & New Zealand Banking Group Ltd.

     69,177        718,083  

Bank of Queensland Ltd.(a)

     12,577        38,489  

Bendigo & Adelaide Bank Ltd.(a)

     18,872        72,422  

BHP Group Ltd.(a)

     92,451        1,639,823  

BHP Group PLC

     70,872        1,100,229  

Boral Ltd.

     46,023        57,745  

Caltex Australia Ltd.

     10,295        140,640  

Challenger Ltd.

     16,423        40,207  

Coca-Cola Amatil Ltd.

     26,658        144,234  

Commonwealth Bank of Australia

     37,902        1,434,096  

Crown Resorts Ltd.

     28,192        131,137  

CSR Ltd.

     26,372        51,167  

Downer EDI Ltd.

     24,670        44,996  

Fortescue Metals Group Ltd.

     78,558        480,814  

Harvey Norman Holdings Ltd.(a)

     70,484        127,262  

Insurance Australia Group Ltd.(a)

     40,842        154,984  

IOOF Holdings Ltd.(a)

     21,730        48,677  

JB Hi-Fi Ltd.(a)

     5,562        95,318  

Jupiter Mines Ltd.

     258,995        34,874  

Macquarie Group Ltd.

     7,305        383,391  

Magellan Financial Group Ltd.(a)

     2,497        66,511  

Medibank Pvt Ltd.(a)

     54,317        88,431  

Metcash Ltd.(a)

     39,530        76,212  

National Australia Bank Ltd.

     73,550        750,872  

Nine Entertainment Co. Holdings Ltd.(a)

     41,798        29,292  

Orora Ltd.

     46,725        69,207  

Pendal Group Ltd.

     14,715        40,078  

Premier Investments Ltd.

     8,445        64,041  

Qantas Airways Ltd.

     50,538        99,910  

QBE Insurance Group Ltd.

     23,967        126,153  

Rio Tinto Ltd.

     11,511        595,822  

Sims Ltd.

     10,490        39,229  

South32 Ltd.

     183,045        197,738  

Southern Cross Media Group Ltd.

     118,981        12,016  

Spark Infrastructure Group

     88,788        105,968  

Star Entertainment Group Ltd. (The)

     50,416        66,343  

Suncorp Group Ltd.

     22,671        126,686  

Super Retail Group Ltd.

     11,157        31,617  

Sydney Airport

     81,791        279,837  

Tabcorp Holdings Ltd.(a)

     70,699        109,476  

Wesfarmers Ltd.

     50,023        1,049,230  

Westpac Banking Corp.

     92,183        930,940  

Whitehaven Coal Ltd.(a)

     64,216        75,659  

Woodside Petroleum Ltd.(a)

     39,104        435,831  
     

 

 

 
Total Australia

 

     13,457,686  
Austria – 0.6%

 

Agrana Beteiligungs AG

     4,927      87,580  

Andritz AG*

     3,434        107,688  

BAWAG Group AG(b)

     3,034        85,157  

Erste Group Bank AG

     7,927        146,864  

Lenzing AG

     1,242        68,685  

Oesterreichische Post AG(a)

     3,431        122,728  

OMV AG

     10,426        287,829  

Voestalpine AG(a)

     7,739        157,392  
     

 

 

 
Total Austria

 

     1,063,923  
Belgium – 0.8%

 

Ageas

     4,296        178,700  

bpost S.A.

     17,877        126,128  

KBC Group N.V.

     10,041        462,955  

Proximus SADP

     13,559        310,496  

Solvay S.A.(a)

     3,237        235,768  
     

 

 

 
Total Belgium

 

     1,314,047  
China – 4.8%

 

China Jinmao Holdings Group Ltd.

     240,000        155,440  

China Mobile Ltd.

     688,500        5,120,957  

China Power International Development Ltd.

     413,000        76,729  

China Resources Power Holdings Co., Ltd.

     262,000        288,674  

CITIC Telecom International Holdings Ltd.

     286,000        94,830  

CNOOC Ltd.

     1,796,000        1,883,843  

Lenovo Group Ltd.

     444,000        238,300  

Shenzhen Investment Ltd.

     368,000        114,898  

Shougang Fushan Resources Group Ltd.

     572,000        104,055  

Sino-Ocean Group Holding Ltd.

     277,000        70,404  

Sinotruk Hong Kong Ltd.

     93,500        155,614  

Yuexiu Property Co., Ltd.

     542,000        97,898  
     

 

 

 
Total China

 

     8,401,642  
Denmark – 0.5%

 

Danske Bank A/S

     28,699        324,514  

H. Lundbeck A/S

     6,873        203,942  

Pandora A/S(a)

     6,601        214,410  

Sydbank A/S

     4,762        67,290  

Topdanmark A/S(a)

     2,417        97,380  
     

 

 

 
Total Denmark

 

     907,536  
Finland – 2.4%

 

Elisa Oyj(a)

     5,355        331,864  

Fortum Oyj

     35,495        520,915  

Kemira Oyj

     5,268        51,040  

Kesko Oyj Class B

     2,308        130,675  

Lassila & Tikanoja Oyj(a)

     6,998        88,303  

Metsa Board Oyj*(a)

     19,969        108,854  

Metso Oyj

     4,250        101,287  

Nokian Renkaat Oyj(a)

     6,167        149,342  

Nordea Bank Abp

     175,944        995,886  

Orion Oyj Class B(a)

     3,952        161,659  

Sampo Oyj Class A

     16,589        484,545  

Stora Enso Oyj Class R

     23,925        242,723  

TietoEVRY Oyj(a)

     5,329        115,659  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Table of Contents

Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2020

 

 

 

Investments    Shares      Value  

UPM-Kymmene Oyj(a)

     21,040      $ 579,231  

YIT Oyj

     21,127        93,700  
     

 

 

 
Total Finland

 

     4,155,683  
France – 10.0%

 

ALD S.A.(a)(b)

     13,988        122,787  

Amundi S.A.(b)

     4,030        238,120  

AXA S.A.

     56,479        978,408  

BNP Paribas S.A.

     36,585        1,104,331  

Bouygues S.A.

     14,298        419,196  

Cie de Saint-Gobain

     16,525        401,897  

Cie Generale des Etablissements Michelin SCA

     4,174        371,249  

CNP Assurances

     12,995        127,188  

Coface S.A.

     9,174        58,887  

Covivio

     2,420        136,352  

Credit Agricole S.A.

     76,472        561,351  

Engie S.A.

     98,739        1,019,709  

Eutelsat Communications S.A.

     12,788        133,665  

Gaztransport Et Technigaz S.A.

     1,064        78,221  

ICADE

     2,342        185,408  

Imerys S.A.(a)

     3,015        75,824  

Klepierre S.A.

     9,745        187,871  

Lagardere SCA

     6,445        81,326  

Metropole Television S.A.

     7,223        80,998  

Natixis S.A.(a)

     96,834        315,247  

Orange S.A.

     92,694        1,132,525  

Peugeot S.A.(a)

     23,589        314,867  

Publicis Groupe S.A.

     6,737        193,084  

Renault S.A.

     14,238        276,646  

Rexel S.A.

     13,761        102,373  

Sanofi

     36,236        3,186,364  

SCOR SE

     4,177        92,031  

Societe BIC S.A.

     2,483        138,539  

Societe Generale S.A.

     33,393        562,358  

SPIE S.A.

     5,036        50,588  

Suez

     22,713        231,175  

Television Francaise 1

     8,121        44,394  

TOTAL S.A.(a)

     102,281        3,971,744  

Valeo S.A.

     8,906        149,025  

Veolia Environnement S.A.

     18,486        395,026  
     

 

 

 
Total France

 

     17,518,774  
Germany – 9.8%

 

Allianz SE Registered Shares

     7,314        1,259,007  

Aurubis AG

     1,976        81,957  

BASF SE

     35,233        1,667,961  

Bayer AG Registered Shares

     35,472        2,057,010  

Bayerische Motoren Werke AG

     24,279        1,255,150  

Continental AG

     5,363        386,086  

Covestro AG(b)

     7,576        231,677  

Daimler AG Registered Shares

     52,912        1,597,748  

Deutsche Pfandbriefbank AG(b)

     8,830        67,724  

Deutsche Post AG Registered Shares

     36,897        1,003,022  

Deutsche Telekom AG Registered Shares

     153,045        1,983,910  

DWS Group GmbH & Co. KGaA(b)

     3,977        98,359  

E.ON SE

     67,529      699,542  

Evonik Industries AG

     15,740        329,353  

Freenet AG

     8,475        149,392  

Hannover Rueck SE

     2,337        335,920  

Hochtief AG

     2,772        184,015  

Hugo Boss AG

     2,791        70,773  

METRO AG

     15,108        130,430  

Muenchener Rueckversicherungs – Gesellschaft AG Registered Shares

     2,661        537,532  

ProSiebenSat.1 Media SE

     13,330        105,748  

Siemens AG Registered Shares

     22,055        1,874,763  

Siltronic AG

     2,121        158,859  

Talanx AG

     4,571        155,281  

Telefonica Deutschland Holding AG

     225,337        558,540  

TUI AG

     36,698        165,457  
     

 

 

 
Total Germany

 

     17,145,216  
Hong Kong – 1.9%

 

BOC Hong Kong Holdings Ltd.

     200,547        554,998  

Hang Lung Properties Ltd.

     94,000        190,889  

Hang Seng Bank Ltd.

     30,018        513,151  

Henderson Land Development Co., Ltd.

     91,220        347,773  

New World Development Co., Ltd.

     203,489        218,955  

PCCW Ltd.

     439,380        242,056  

Power Assets Holdings Ltd.

     69,518        415,714  

Sino Land Co., Ltd.

     160,000        203,125  

Sun Hung Kai Properties Ltd.

     44,500        586,758  

Television Broadcasts Ltd.

     62,600        77,938  
     

 

 

 
Total Hong Kong

 

     3,351,357  
Ireland – 0.1%

 

AIB Group PLC*

     61,899        69,413  

Smurfit Kappa Group PLC

     6,530        184,285  
     

 

 

 
Total Ireland

 

     253,698  
Israel – 0.3%

 

Bank Leumi Le-Israel BM

     26,192        145,123  

Delek Group Ltd.

     725        19,210  

First International Bank of Israel Ltd.

     4,419        108,381  

Israel Chemicals Ltd.

     32,822        104,661  

Mediterranean Towers Ltd.

     37,679        70,193  

Naphtha Israel Petroleum Corp., Ltd.*

     12,429        44,271  

Paz Oil Co., Ltd.

     686        57,867  
     

 

 

 
Total Israel

 

     549,706  
Italy – 4.7%

 

A2A SpA

     106,720        132,673  

ACEA SpA

     6,648        105,625  

Assicurazioni Generali SpA(a)

     32,805        446,702  

Azimut Holding SpA

     6,245        90,314  

Banca Generali SpA

     3,054        64,071  

Banca Mediolanum SpA

     20,963        106,958  

Enav SpA(b)

     27,848        122,592  

Enel SpA

     318,172        2,213,036  

Eni SpA

     152,786        1,545,682  

ERG SpA

     5,480        98,071  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2020

 

 

 

Investments    Shares      Value  

Intesa Sanpaolo SpA

     742,522      $ 1,212,648  

Italgas SpA

     23,445        128,342  

MARR SpA

     3,592        50,685  

Mediobanca Banca di Credito Finanziario SpA

     21,241        117,186  

Poste Italiane SpA(b)

     28,690        243,026  

Snam SpA

     123,204        568,320  

Telecom Italia SpA RSP

     283,561        112,165  

Terna Rete Elettrica Nazionale SpA

     61,591        389,941  

Unione di Banche Italiane SpA

     32,740        86,469  

Unipol Gruppo SpA

     20,607        70,863  

UnipolSai Assicurazioni SpA

     92,295        226,846  
     

 

 

 
Total Italy

 

     8,132,215  
Japan – 14.8%

 

AEON Financial Service Co., Ltd.

     5,300        56,851  

Aisin Seiki Co., Ltd.

     8,900        219,625  

Amada Holdings Co., Ltd.

     10,700        84,545  

AOKI Holdings, Inc.

     11,200        75,320  

Aoyama Trading Co., Ltd.(a)

     5,100        43,840  

Aozora Bank Ltd.(a)

     5,300        101,233  

Bridgestone Corp.

     20,500        631,018  

Canon Electronics, Inc.

     5,300        78,306  

Canon, Inc.

     48,600        1,061,993  

Chugoku Electric Power Co., Inc. (The)(a)

     8,400        117,338  

Citizen Watch Co., Ltd.(a)

     18,200        64,738  

Daito Trust Construction Co., Ltd.

     1,600        149,173  

Daiwa Securities Group, Inc.

     41,700        161,925  

DIC Corp.

     4,400        97,533  

Exedy Corp.

     4,900        72,577  

FANUC Corp.

     7,900        1,072,433  

Fukuoka Financial Group, Inc.

     4,500        59,650  

Hanwa Co., Ltd.

     4,400        68,555  

Haseko Corp.(a)

     18,400        197,201  

Heiwa Corp.(a)

     3,800        71,139  

Hitachi Construction Machinery Co., Ltd.(a)

     6,300        127,745  

Honda Motor Co., Ltd.

     51,200        1,152,480  

ITOCHU Corp.(a)

     48,200        1,001,237  

Itochu Enex Co., Ltd.

     16,200        126,653  

Japan Exchange Group, Inc.(a)

     9,300        164,196  

Japan Post Holdings Co., Ltd.

     75,900        594,587  

Japan Tobacco, Inc.

     86,200        1,593,768  

JSR Corp.

     6,500        119,999  

JXTG Holdings, Inc.

     101,500        348,064  

Kansai Electric Power Co., Inc. (The)

     26,900        299,886  

Komatsu Ltd.

     31,900        525,535  

Lawson, Inc.

     4,300        236,200  

LIXIL Group Corp.

     10,900        135,802  

Marubeni Corp.

     60,900        304,063  

Matsui Securities Co., Ltd.(a)

     10,900        80,068  

Mebuki Financial Group, Inc.

     40,800        83,146  

Miraca Holdings, Inc.(a)

     2,900        61,194  

Mitsubishi Chemical Holdings Corp.

     58,800        350,115  

Mitsubishi Corp.

     49,276        1,045,954  

Mitsubishi Gas Chemical Co., Inc.

     10,200        111,113  

Mitsubishi Motors Corp.(a)

     43,900      124,435  

Mitsubishi UFJ Financial Group, Inc.

     245,000        914,594  

Mitsui Chemicals, Inc.

     6,600        125,391  

Mixi, Inc.

     4,500        65,402  

Mizuho Financial Group, Inc.

     509,200        582,994  

MS&AD Insurance Group Holdings, Inc.

     9,700        271,803  

Nikon Corp.

     12,100        111,860  

Nippon Steel Trading Corp.

     3,100        104,812  

Nishimatsu Construction Co., Ltd.

     4,900        94,001  

Nitto Denko Corp.

     4,900        219,003  

NSK Ltd.

     16,900        108,643  

NTN Corp.(a)

     33,700        59,000  

NTT DOCOMO, Inc.

     112,657        3,524,086  

Resona Holdings, Inc.

     51,600        155,438  

Sankyo Co., Ltd.

     3,000        87,398  

SBI Holdings, Inc.(a)

     4,100        59,931  

Seiko Epson Corp.(a)

     12,900        139,808  

Sekisui House Ltd.

     23,000        380,191  

Seven Bank Ltd.

     30,300        78,308  

Shimizu Corp.

     23,500        183,942  

Showa Denko K.K.

     4,500        93,247  

SKY Perfect JSAT Holdings, Inc.

     28,300        100,664  

Sojitz Corp.

     47,700        112,230  

Subaru Corp.(a)

     31,600        606,944  

SUMCO Corp.

     11,600        149,681  

Sumitomo Chemical Co., Ltd.

     55,100        163,838  

Sumitomo Corp.

     41,900        480,886  

Sumitomo Mitsui Financial Group, Inc.(a)

     25,000        607,429  

Sumitomo Rubber Industries Ltd.

     11,000        103,830  

T-Gaia Corp.

     5,300        100,546  

Takeda Pharmaceutical Co., Ltd.

     41,000        1,256,338  

Teijin Ltd.

     5,300        89,843  

Tokyo Electron Ltd.

     6,500        1,225,580  

Tosoh Corp.

     9,700        110,518  

Toyota Boshoku Corp.

     7,500        89,412  

Yamaha Motor Co., Ltd.

     12,200        147,704  
     

 

 

 
Total Japan

 

     25,776,528  
Netherlands – 1.2%

 

ABN AMRO Bank N.V. CVA(b)

     29,780        244,548  

Aegon N.V.

     63,086        160,178  

ASR Nederland N.V.

     3,669        92,433  

BE Semiconductor Industries N.V.

     4,727        144,190  

ING Groep N.V.

     111,429        584,613  

Koninklijke KPN N.V.

     119,990        286,490  

NN Group N.V.

     7,736        208,813  

Randstad N.V.

     6,340        223,793  

Signify N.V.(b)

     5,226        101,438  
     

 

 

 
Total Netherlands

 

     2,046,496  
New Zealand – 0.7%

 

Air New Zealand Ltd.

     6,951        3,503  

Chorus Ltd.

     24,023        98,128  

Contact Energy Ltd.

     33,075        112,945  

Genesis Energy Ltd.

     61,781        92,117  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Table of Contents

Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2020

 

 

 

Investments    Shares      Value  

Infratil Ltd.

     20,661      $ 47,893  

Mercury NZ Ltd.

     50,080        125,291  

Meridian Energy Ltd.

     112,555        269,582  

Spark New Zealand Ltd.

     108,319        262,326  

Vector Ltd.

     51,337        96,479  

Z Energy Ltd.

     30,848        52,853  
     

 

 

 
Total New Zealand

 

     1,161,117  
Norway – 2.1%

 

AF Gruppen ASA

     5,404        75,134  

Aker ASA Class A

     1,747        39,196  

Aker BP ASA

     16,166        204,134  

Atea ASA*

     4,911        41,202  

DNB ASA

     35,384        393,399  

Elkem ASA(b)

     67,982        85,455  

Equinor ASA

     116,227        1,451,592  

Gjensidige Forsikring ASA

     9,890        167,690  

Mowi ASA

     20,746        313,432  

Norsk Hydro ASA

     61,120        131,658  

Ocean Yield ASA(a)

     19,562        43,591  

SpareBank 1 SR-Bank ASA

     12,832        72,341  

Telenor ASA

     45,316        655,509  
     

 

 

 
Total Norway

 

     3,674,333  
Portugal – 0.6%

 

EDP – Energias de Portugal S.A.

     119,584        479,979  

Galp Energia, SGPS, S.A.

     26,864        306,409  

Navigator Co. S.A. (The)(a)

     49,324        116,793  

NOS, SGPS, S.A.

     26,494        88,723  

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

     22,058        56,151  

Sonae, SGPS, S.A.

     101,011        65,337  
     

 

 

 
Total Portugal

 

     1,113,392  
Singapore – 2.5%

 

CapitaLand Ltd.

     75,600        151,322  

ComfortDelGro Corp., Ltd.

     73,100        78,036  

DBS Group Holdings Ltd.

     59,945        781,809  

Frasers Property Ltd.

     122,100        95,186  

Genting Singapore Ltd.

     349,400        169,320  

Hutchison Port Holdings Trust

     729,723        75,162  

Keppel Corp., Ltd.(a)

     54,300        201,740  

Keppel Infrastructure Trust

     224,121        66,897  

NetLink NBN Trust

     234,600        149,112  

Olam International Ltd.

     103,000        103,445  

Oversea-Chinese Banking Corp., Ltd.

     68,246        414,121  

Singapore Airlines Ltd.(a)

     34,800        140,290  

Singapore Exchange Ltd.

     25,400        163,940  

Singapore Technologies Engineering Ltd.

     84,800        185,817  

Singapore Telecommunications Ltd.

     593,700        1,059,229  

StarHub Ltd.

     106,100        99,107  

United Overseas Bank Ltd.

     26,700        364,726  

Venture Corp., Ltd.

     12,600        120,084  
     

 

 

 
Total Singapore

 

     4,419,343  
Spain – 4.9%

 

ACS Actividades de Construccion y Servicios S.A.

     8,219        160,661  

Aena SME S.A.(b)

     4,209      459,616  

Atresmedia Corp. de Medios de Comunicacion S.A.(a)

     23,021        63,150  

Banco Bilbao Vizcaya Argentaria S.A.

     140,542        449,599  

Banco Santander S.A.

     376,836        917,106  

Bankia S.A.(a)

     77,185        86,216  

Bankinter S.A.

     11,984        43,972  

Bolsas y Mercados Espanoles SHMSF S.A.

     4,883        177,131  

CaixaBank S.A.

     161,167        300,629  

Cia de Distribucion Integral Logista Holdings S.A.

     6,111        97,830  

Enagas S.A.

     10,493        208,336  

Ence Energia y Celulosa S.A.(a)

     17,407        47,750  

Endesa S.A.

     42,896        916,407  

Euskaltel S.A.(b)

     8,204        60,672  

Iberdrola S.A.

     177,332        1,748,085  

Mapfre S.A.

     49,875        85,180  

Naturgy Energy Group S.A.

     34,419        608,603  

Prosegur Cash S.A.(b)

     59,428        57,122  

Red Electrica Corp. S.A.

     17,823        320,039  

Repsol S.A.

     71,868        657,038  

Sacyr S.A.

     29,415        44,928  

Telefonica S.A.(a)

     193,499        886,104  

Zardoya Otis S.A.

     16,851        113,712  
     

 

 

 
Total Spain

 

     8,509,886  
Sweden – 1.8%

 

Axfood AB

     7,123        145,369  

Bilia AB Class A

     7,809        48,315  

Boliden AB

     7,906        144,671  

Bonava AB Class B(a)

     6,610        28,634  

Holmen AB Class B(a)

     4,061        111,816  

Intrum AB(a)

     5,542        74,032  

JM AB(a)

     3,298        57,470  

Peab AB Class B

     10,850        78,465  

Skandinaviska Enskilda Banken AB Class A

     66,528        451,099  

Skanska AB Class B

     10,564        161,482  

SKF AB Class B(a)

     12,713        175,406  

SSAB AB Class B(a)

     32,003        70,966  

Svenska Handelsbanken AB Class A

     44,680        374,930  

Swedbank AB Class A

     46,977        525,591  

Telia Co. AB(a)

     179,804        647,880  
     

 

 

 
Total Sweden

 

     3,096,126  
Switzerland – 4.0%

 

ABB Ltd. Registered Shares

     65,513        1,151,412  

Adecco Group AG Registered Shares

     5,120        201,826  

Baloise Holding AG Registered Shares

     634        83,153  

Dufry AG Registered Shares*

     2,361        73,401  

Flughafen Zurich AG Registered Shares

     957        107,811  

Helvetia Holding AG Registered Shares

     1,096        94,359  

Kuehne + Nagel International AG Registered Shares

     3,777        518,603  

LafargeHolcim Ltd. Registered Shares*

     17,524        640,430  

Sulzer AG Registered Shares

     1,521        96,050  

Sunrise Communications Group AG*(b)

     2,540        204,502  

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2020

 

 

 

Investments    Shares      Value  

Swiss Life Holding AG Registered Shares

     480      $ 163,415  

Swiss Re AG

     7,699        593,290  

Swisscom AG Registered Shares

     1,577        847,869  

UBS Group AG Registered Shares*

     94,198        880,694  

Vontobel Holding AG Registered Shares

     1,861        91,554  

Zurich Insurance Group AG

     3,448        1,223,754  
     

 

 

 
Total Switzerland

 

     6,972,123  
United Kingdom – 22.7%

 

Admiral Group PLC

     7,604        210,257  

Anglo American PLC

     37,317        655,386  

Antofagasta PLC

     27,104        259,787  

AstraZeneca PLC

     31,259        2,796,893  

Aviva PLC

     120,293        400,487  

Babcock International Group PLC

     28,009        133,084  

BAE Systems PLC

     109,351        707,508  

Barclays PLC

     302,068        352,488  

Barratt Developments PLC

     54,931        300,373  

Bellway PLC

     5,446        145,590  

Bodycote PLC

     11,306        79,137  

BP PLC

     905,315        3,863,802  

British American Tobacco PLC

     120,347        4,117,098  

BT Group PLC

     519,582        759,578  

Carnival PLC

     7,602        92,508  

Centrica PLC

     475,114        224,336  

Cineworld Group PLC

     41,761        25,699  

Close Brothers Group PLC

     5,412        75,964  

Daily Mail & General Trust PLC Class A Non-Voting Shares

     8,767        74,138  

Direct Line Insurance Group PLC

     31,243        114,631  

Diversified Gas & Oil PLC

     45,787        49,961  

Dixons Carphone PLC

     86,570        83,813  

Domino’s Pizza Group PLC

     23,591        83,075  

Drax Group PLC

     17,177        32,736  

DS Smith PLC

     44,688        152,602  

easyJet PLC(a)

     19,119        135,365  

Essentra PLC

     19,330        62,988  

Evraz PLC

     106,387        305,514  

Fiat Chrysler Automobiles N.V.

     58,638        422,846  

Galliford Try Holdings PLC

     11,805        19,257  

GlaxoSmithKline PLC

     193,005        3,624,689  

Go-Ahead Group PLC (The)

     3,473        35,592  

Hammerson PLC

     50,177        48,143  

Hastings Group Holdings PLC(b)

     37,261        85,242  

Hays PLC

     76,024        108,594  

HSBC Holdings PLC

     498,320        2,806,774  

IMI PLC

     8,529        79,042  

Imperial Brands PLC

     72,853        1,352,121  

Inchcape PLC

     11,080        59,516  

Investec PLC

     17,019        32,055  

J Sainsbury PLC

     94,687        247,025  

John Wood Group PLC

     37,791        72,936  

Jupiter Fund Management PLC

     16,050        39,802  

Land Securities Group PLC

     20,816        143,715  

Legal & General Group PLC

     151,200        363,431  

Lloyds Banking Group PLC

     1,584,982        628,896  

Marston’s PLC

    123,800      63,306  

Mondi PLC

    9,931        170,056  

Morgan Advanced Materials PLC

    33,362        76,571  

National Express Group PLC

    21,933        55,969  

National Grid PLC

    151,259        1,775,383  

Pagegroup PLC

    19,090        86,208  

Pennon Group PLC

    15,361        206,754  

Persimmon PLC

    27,529        654,189  

Phoenix Group Holdings PLC

    18,461        143,433  

Redrow PLC

    19,000        84,695  

Rio Tinto PLC

    45,667        2,105,593  

Royal Dutch Shell PLC Class A

    187,845        3,305,113  

Royal Mail PLC

    92,554        143,682  

Severn Trent PLC

    7,821        221,106  

Signature Aviation PLC

    30,586        62,576  

SSE PLC

    62,761        1,015,558  

St. James’s Place PLC

    9,842        92,698  

Standard Life Aberdeen PLC

    86,509        240,170  

Tate & Lyle PLC

    18,412        149,765  

TP ICAP PLC

    23,145        97,116  

Tyman PLC

    30,310        57,802  

United Utilities Group PLC

    22,341        250,091  

Vesuvius PLC

    15,749        62,958  

Vistry Group PLC

    20,144        143,871  

Vodafone Group PLC

    1,266,346        1,774,333  
    

 

 

 
Total United Kingdom

 

     39,503,470  

TOTAL COMMON STOCKS

(Cost: $240,492,256)

 

 

     172,524,297  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree International LargeCap Dividend Fund(a)(c)

    
(Cost: $81,250)     2,554        94,319  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.1%

 

United States – 5.1%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(d)

    
(Cost: $8,867,431)     8,867,431        8,867,431  

TOTAL INVESTMENTS IN SECURITIES – 104.1%

(Cost: $249,440,937)

 

 

     181,486,047  

Other Assets less Liabilities – (4.1)%

       (7,250,284
    

 

 

 
NET ASSETS – 100.0%            $ 174,235,763  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $14,170,276. The Fund also had securities on loan having a total market value of $74,030 that were sold and pending settlement. The total market value of the collateral held by the Fund was $15,015,665. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $6,148,234.

 

(b) 

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

 

(c) 

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

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  


Table of Contents

Schedule of Investments (concluded)

WisdomTree International High Dividend Fund (DTH)

March 31, 2020

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree International LargeCap Dividend Fund

  $ 38,107     $ 5,159,567     $ 5,119,109     $ 4,858     $ 10,896     $ 94,319     $ 63,732  

 

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

Goldman Sachs

    4/1/2020       40,192       CHF       413,339       SEK     $     $ (179

Goldman Sachs

    4/1/2020       384,695       EUR       4,198,860       SEK             (1,691

Goldman Sachs

    4/1/2020       19,751,578       JPY       1,819,852       SEK             (719

Goldman Sachs

    4/1/2020       360,000       NOK       342,330       SEK             (270

Morgan Stanley & Co. International

    4/1/2020       700,844       HKD       897,963       SEK             (212

Morgan Stanley & Co. International

    4/1/2020       26,873       SGD       187,650       SEK             (66

UBS AG

    4/1/2020       28,576       CHF       29,885       USD             (351

UBS AG

    4/1/2020       5,607       EUR       6,211       USD             (58

UBS AG

    4/1/2020       19,688       HKD       2,540       USD       1        

UBS AG

    4/1/2020       17,380       ILS       4,866       USD       47        
                                            $ 48     $ (3,546

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.8%

 

Australia – 5.7%

 

Australia & New Zealand Banking Group Ltd.

     131,574      $ 1,365,787  

BHP Group Ltd.(a)

     124,985        2,216,886  

BHP Group PLC

     97,685        1,516,479  

Commonwealth Bank of Australia

     76,682        2,901,412  

CSL Ltd.

     5,242        951,858  

Fortescue Metals Group Ltd.

     105,452        645,419  

Macquarie Group Ltd.

     12,345        647,906  

National Australia Bank Ltd.

     150,475        1,536,199  

Rio Tinto Ltd.

     14,673        759,491  

Telstra Corp., Ltd.

     379,967        713,956  

Transurban Group(a)

     91,887        677,123  

Wesfarmers Ltd.

     68,233        1,431,185  

Westpac Banking Corp.

     185,356        1,871,878  

Woodside Petroleum Ltd.(a)

     51,715        576,386  

Woolworths Group Ltd.

     40,130        862,111  
     

 

 

 
Total Australia

 

     18,674,076  
Austria – 0.2%

 

Erste Group Bank AG

     14,751        273,293  

OMV AG

     13,407        370,124  
     

 

 

 
Total Austria

 

     643,417  
Belgium – 0.9%

 

Anheuser-Busch InBev S.A./N.V.

     38,640        1,715,837  

KBC Group N.V.

     19,477        898,016  

UCB S.A.

     3,301        286,140  
     

 

 

 
Total Belgium

 

     2,899,993  
China – 3.6%

 

China Mobile Ltd.

     933,486        6,943,125  

China Overseas Land & Investment Ltd.

     262,000        812,951  

China Unicom Hong Kong Ltd.

     492,000        283,740  

CITIC Ltd.

     1,058,273        1,107,303  

CNOOC Ltd.

     2,420,529        2,538,918  
     

 

 

 
Total China

 

     11,686,037  
Denmark – 1.4%

 

AP Moller – Maersk A/S Class B

     184        164,823  

Carlsberg A/S Class B

     2,248        254,457  

Coloplast A/S Class B

     4,192        608,139  

DSV Panalpina A/S

     694        63,085  

Novo Nordisk A/S Class B

     44,074        2,651,582  

Orsted A/S(b)

     6,572        643,980  

Vestas Wind Systems A/S

     2,580        209,638  
     

 

 

 
Total Denmark

 

     4,595,704  
Finland – 1.5%

 

Fortum Oyj

     47,157        692,063  

Kone Oyj Class B

     14,690        832,043  

Neste Oyj

     16,118        545,597  

Nordea Bank Abp

     343,195        1,942,567  

Sampo Oyj Class A

     30,272        884,209  
     

 

 

 
Total Finland

 

     4,896,479  
France – 11.7%

 

Aeroports de Paris

     2,422      232,402  

Air Liquide S.A.

     9,924        1,270,215  

AXA S.A.

     112,964        1,956,919  

BNP Paribas S.A.

     72,249        2,180,862  

Capgemini SE

     2,766        233,695  

Carrefour S.A.(a)

     18,778        297,009  

Cie de Saint-Gobain

     19,905        484,101  

Cie Generale des Etablissements Michelin SCA

     5,771        513,291  

Credit Agricole S.A.

     149,142        1,094,793  

Danone S.A.

     17,193        1,106,245  

Dassault Systemes SE

     1,308        193,753  

Electricite de France S.A.

     75,085        592,033  

Engie S.A.

     132,627        1,369,682  

EssilorLuxottica S.A.

     8,148        878,662  

Hermes International

     862        594,738  

Kering S.A.

     2,600        1,357,672  

L’Oreal S.A.

     8,354        2,189,860  

Legrand S.A.

     5,693        365,304  

LVMH Moet Hennessy Louis Vuitton SE

     8,294        3,080,096  

Orange S.A.

     129,314        1,579,943  

Pernod Ricard S.A.

     3,936        559,066  

Peugeot S.A.(a)

     32,382        432,237  

Renault S.A.(a)

     17,647        342,883  

Safran S.A.

     5,498        483,459  

Sanofi

     49,006        4,309,276  

Schneider Electric SE

     17,023        1,467,756  

Societe Generale S.A.

     65,702        1,106,461  

Sodexo S.A.(a)

     3,677        248,692  

Thales S.A.

     4,187        350,904  

TOTAL S.A.(a)

     138,649        5,383,975  

Vinci S.A.

     17,517        1,449,228  

Vivendi S.A.

     24,809        531,503  
     

 

 

 
Total France

 

     38,236,715  
Germany – 8.5%

 

adidas AG

     2,436        550,351  

Allianz SE Registered Shares

     14,643        2,520,597  

BASF SE

     46,817        2,216,357  

Bayer AG Registered Shares

     47,585        2,759,439  

Bayerische Motoren Werke AG

     32,512        1,680,771  

Beiersdorf AG

     1,891        192,053  

Continental AG

     7,163        515,669  

Daimler AG Registered Shares

     69,584        2,101,182  

Deutsche Boerse AG

     3,021        414,349  

Deutsche Post AG Registered Shares

     48,959        1,330,920  

Deutsche Telekom AG Registered Shares

     208,580        2,703,805  

Deutsche Wohnen SE Bearer Shares

     5,691        216,745  

E.ON SE

     91,330        946,100  

Fresenius Medical Care AG & Co. KGaA

     5,176        341,898  

Fresenius SE & Co. KGaA

     9,804        365,000  

Hannover Rueck SE

     3,604        518,038  

Henkel AG & Co. KGaA

     6,311        466,382  

Infineon Technologies AG

     20,086        295,989  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Table of Contents

Schedule of Investments (continued)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2020

 

 

 

Investments    Shares      Value  

Muenchener Rueckversicherungs – Gesellschaft AG Registered Shares

     4,798      $ 969,214  

RWE AG

     16,432        431,999  

SAP SE

     15,432        1,740,689  

Siemens AG Registered Shares

     29,440        2,502,517  

Siemens Healthineers AG(b)

     18,627        736,705  

Volkswagen AG

     9,479        1,262,662  
     

 

 

 
Total Germany

 

     27,779,431  
Hong Kong – 2.9%

 

AIA Group Ltd.

     165,000        1,493,343  

BOC Hong Kong Holdings Ltd.

     406,715        1,125,551  

CLP Holdings Ltd.

     81,000        747,204  

Galaxy Entertainment Group Ltd.

     79,000        421,454  

Hang Seng Bank Ltd.

     60,295        1,030,730  

Henderson Land Development Co., Ltd.

     153,122        583,772  

Hong Kong & China Gas Co., Ltd.

     305,158        503,157  

Hong Kong Exchanges & Clearing Ltd.

     27,038        815,581  

MTR Corp., Ltd.

     143,938        743,748  

New World Development Co., Ltd.

     328,000        352,929  

Sun Hung Kai Properties Ltd.

     83,942        1,106,823  

Swire Pacific Ltd. Class A

     21,500        138,555  

Swire Pacific Ltd. Class B

     75,000        76,733  

Swire Properties Ltd.

     116,200        326,821  
     

 

 

 
Total Hong Kong

 

     9,466,401  
Ireland – 0.2%

 

CRH PLC

     20,876        569,219  

Kerry Group PLC Class A

     1,493        172,338  
     

 

 

 
Total Ireland

 

     741,557  
Italy – 3.0%

 

Assicurazioni Generali SpA(a)

     74,033        1,008,098  

Enel SpA

     438,285        3,048,479  

Eni SpA

     206,031        2,084,343  

Ferrari N.V.

     1,535        238,410  

Intesa Sanpaolo SpA

     1,492,114        2,436,842  

Snam SpA

     158,738        732,233  

UniCredit SpA

     45,787        359,064  
     

 

 

 
Total Italy

 

     9,907,469  
Japan – 18.4%

 

Aeon Co., Ltd.

     15,100        335,556  

Asahi Group Holdings Ltd.

     10,100        328,387  

Astellas Pharma, Inc.

     50,900        787,864  

Bridgestone Corp.

     29,300        901,893  

Canon, Inc.

     65,300        1,426,916  

Central Japan Railway Co.

     1,300        208,568  

Chugai Pharmaceutical Co., Ltd.

     6,300        729,471  

Dai-ichi Life Holdings, Inc.

     31,600        379,212  

Daiichi Sankyo Co., Ltd.

     8,100        557,782  

Daikin Industries Ltd.

     3,300        402,584  

Daiwa House Industry Co., Ltd.

     17,800        441,476  

Denso Corp.

     23,800        769,634  

East Japan Railway Co.

     5,100        386,250  

Eisai Co., Ltd.

     6,500        477,528  

FANUC Corp.

     10,400      1,411,810  

Fast Retailing Co., Ltd.

     700        286,536  

FUJIFILM Holdings Corp.

     6,900        347,637  

Hitachi Ltd.

     21,000        611,394  

Honda Motor Co., Ltd.(a)

     69,500        1,564,402  

Hoya Corp.

     4,500        383,493  

ITOCHU Corp.(a)

     65,200        1,354,370  

Japan Post Holdings Co., Ltd.

     147,400        1,154,705  

Japan Tobacco, Inc.

     114,109        2,109,782  

JXTG Holdings, Inc.

     136,900        469,458  

Kao Corp.

     6,800        556,195  

KDDI Corp.

     88,400        2,612,162  

Keyence Corp.

     800        258,108  

Kirin Holdings Co., Ltd.

     19,700        390,058  

Komatsu Ltd.

     40,900        673,805  

Kubota Corp.

     25,100        321,205  

Mitsubishi Corp.

     65,800        1,396,700  

Mitsubishi Electric Corp.

     60,400        746,922  

Mitsubishi Estate Co., Ltd.

     17,700        261,512  

Mitsubishi UFJ Financial Group, Inc.

     477,900        1,784,018  

Mitsui Fudosan Co., Ltd.

     13,600        235,643  

Mizuho Financial Group, Inc.

     1,006,298        1,152,132  

MS&AD Insurance Group Holdings, Inc.

     18,200        509,981  

Murata Manufacturing Co., Ltd.

     13,300        674,148  

Nidec Corp.

     5,600        290,855  

Nintendo Co., Ltd.

     2,900        1,117,771  

Nippon Telegraph & Telephone Corp.

     139,700        3,332,846  

NTT Data Corp.

     17,900        172,442  

NTT DOCOMO, Inc.

     152,200        4,761,052  

Olympus Corp.

     7,900        114,305  

Oriental Land Co., Ltd.(a)

     1,600        204,826  

Otsuka Holdings Co., Ltd.

     14,900        583,965  

Panasonic Corp.

     80,600        615,951  

Rakuten, Inc.

     1,500        11,394  

Recruit Holdings Co., Ltd.

     13,400        347,056  

Secom Co., Ltd.

     4,100        340,822  

Seven & I Holdings Co., Ltd.

     21,800        722,123  

Shin-Etsu Chemical Co., Ltd.

     9,200        914,418  

Shionogi & Co., Ltd.

     5,100        251,185  

Shiseido Co., Ltd.

     2,000        118,234  

SMC Corp.

     700        296,651  

Softbank Corp.(a)

     121,900        1,552,050  

SoftBank Group Corp.

     9,100        319,307  

Sony Corp.

     7,400        440,141  

Subaru Corp.(a)

     41,000        787,490  

Sumitomo Corp.

     55,800        640,417  

Sumitomo Mitsui Financial Group, Inc.(a)

     50,600        1,229,436  

Sumitomo Realty & Development Co., Ltd.

     2,800        68,343  

Suzuki Motor Corp.

     6,800        162,796  

Takeda Pharmaceutical Co., Ltd.

     55,100        1,688,396  

Terumo Corp.

     6,300        217,090  

Tokio Marine Holdings, Inc.

     20,400        935,390  

Tokyo Electron Ltd.

     8,300        1,564,972  

Toshiba Corp.

     5,700        125,663  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2020

 

 

 

Investments    Shares      Value  

Toyota Motor Corp.

     103,100      $ 6,208,634  

Unicharm Corp.

     4,300        161,357  

West Japan Railway Co.

     3,600        246,636  

Z Holdings Corp.

     146,700        472,897  
     

 

 

 
Total Japan

 

     60,416,208  
Netherlands – 2.1%

 

ABN AMRO Bank N.V. CVA(b)

     57,375        471,153  

Akzo Nobel N.V.

     4,906        323,041  

ASML Holding N.V.

     5,138        1,366,854  

EXOR N.V.

     1,192        61,472  

Heineken Holding N.V.(a)

     5,250        402,375  

Heineken N.V.(a)

     8,976        750,094  

ING Groep N.V.

     211,090        1,107,484  

Koninklijke Ahold Delhaize N.V.

     38,609        901,712  

Koninklijke DSM N.V.(a)

     3,587        407,359  

Koninklijke Philips N.V.

     20,426        827,355  

Wolters Kluwer N.V.

     3,650        257,039  
     

 

 

 
Total Netherlands

 

     6,875,938  
Norway – 1.1%

 

DNB ASA

     67,578        751,332  

Equinor ASA

     153,790        1,920,727  

Telenor ASA

     60,567        876,119  
     

 

 

 
Total Norway

 

     3,548,178  
Singapore – 1.5%

 

DBS Group Holdings Ltd.

     123,500        1,610,700  

Oversea-Chinese Banking Corp., Ltd.

     139,699        847,701  

Singapore Telecommunications Ltd.

     855,300        1,525,766  

United Overseas Bank Ltd.

     53,286        727,895  

Wilmar International Ltd.

     178,200        404,246  
     

 

 

 
Total Singapore

 

     5,116,308  
Spain – 4.2%

 

Aena SME S.A.(b)

     5,849        638,701  

Banco Bilbao Vizcaya Argentaria S.A.

     276,150        883,413  

Banco Santander S.A.

     747,056        1,818,111  

CaixaBank S.A.

     311,834        581,672  

Endesa S.A.

     62,663        1,338,699  

Ferrovial S.A.

     23,472        563,254  

Grifols S.A.

     6,628        225,450  

Iberdrola S.A.

     233,498        2,301,753  

Industria de Diseno Textil S.A.

     96,711        2,510,709  

Naturgy Energy Group S.A.(a)

     48,378        855,429  

Repsol S.A.

     95,275        871,032  

Telefonica S.A.(a)

     281,026        1,286,923  
     

 

 

 
Total Spain

 

     13,875,146  
Sweden – 2.1%

 

Assa Abloy AB Class B

     20,196        382,610  

Atlas Copco AB Class A

     27,897        940,159  

Essity AB Class B

     11,607        358,483  

Hexagon AB Class B(a)

     4,632        198,226  

Sandvik AB

     35,823        510,714  

Skandinaviska Enskilda Banken AB Class A

     127,457        864,233  

Svenska Handelsbanken AB Class A

     88,341        741,309  

Swedbank AB Class A

     87,990      984,456  

Telefonaktiebolaget LM Ericsson Class B

     38,800        317,443  

Telia Co. AB(a)

     227,269        818,909  

Volvo AB Class B

     72,375        872,938  
     

 

 

 
Total Sweden

 

     6,989,480  
Switzerland – 11.1%

 

ABB Ltd. Registered Shares

     87,284        1,534,044  

Cie Financiere Richemont S.A. Registered Shares

     11,820        648,203  

Credit Suisse Group AG Registered Shares*

     49,021        405,321  

Geberit AG Registered Shares

     939        413,430  

Givaudan S.A. Registered Shares

     193        597,421  

Kuehne + Nagel International AG Registered Shares

     5,256        721,678  

LafargeHolcim Ltd. Registered Shares*

     26,018        950,852  

Lonza Group AG Registered Shares*

     593        246,504  

Nestle S.A. Registered Shares

     71,203        7,318,628  

Novartis AG Registered Shares

     77,740        6,415,730  

Partners Group Holding AG

     682        471,983  

Roche Holding AG Bearer Shares

     5,056        1,620,972  

Roche Holding AG Genusschein

     21,308        6,916,208  

Schindler Holding AG Participation Certificate

     736        161,569  

Schindler Holding AG Registered Shares

     1,881        397,371  

SGS S.A. Registered Shares

     223        516,734  

Sika AG Registered Shares

     1,681        277,894  

Swiss Life Holding AG Registered Shares

     881        299,934  

Swiss Re AG

     14,952        1,152,210  

Swisscom AG Registered Shares

     2,216        1,191,425  

UBS Group AG Registered Shares*

     184,904        1,728,739  

Zurich Insurance Group AG

     6,739        2,391,786  
     

 

 

 
Total Switzerland

 

     36,378,636  
United Kingdom – 18.7%

 

Anglo American PLC

     47,771        838,986  

Associated British Foods PLC

     13,357        300,435  

AstraZeneca PLC

     41,999        3,757,852  

Aviva PLC

     223,201        743,096  

BAE Systems PLC

     149,659        968,303  

Barclays PLC

     581,474        678,532  

BP PLC

     1,219,793        5,205,965  

British American Tobacco PLC

     163,032        5,577,362  

BT Group PLC

     752,321        1,099,819  

Coca-Cola European Partners PLC

     9,796        372,441  

Compass Group PLC

     30,155        472,618  

Diageo PLC

     49,757        1,595,772  

Fiat Chrysler Automobiles N.V.

     80,144        577,929  

GlaxoSmithKline PLC

     260,709        4,896,189  

HSBC Holdings PLC

     990,388        5,578,334  

Imperial Brands PLC

     95,582        1,773,961  

Legal & General Group PLC

     287,332        690,644  

Lloyds Banking Group PLC

     3,103,525        1,231,429  

London Stock Exchange Group PLC

     3,716        335,437  

National Grid PLC

     209,790        2,462,383  

Prudential PLC

     63,986        821,560  

Reckitt Benckiser Group PLC

     18,672        1,423,870  

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Table of Contents

Schedule of Investments (concluded)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2020

 

 

 

Investments    Shares      Value  

RELX PLC

     35,716      $ 767,035  

Rio Tinto PLC

     61,902        2,854,149  

Rolls-Royce Holdings PLC*

     23,088        97,507  

Royal Bank of Scotland Group PLC

     245,190        343,242  

Royal Dutch Shell PLC Class A

     254,473        4,477,425  

Royal Dutch Shell PLC Class B

     215,249        3,629,280  

Smith & Nephew PLC

     13,835        246,084  

Standard Chartered PLC

     59,662        329,794  

Tesco PLC

     237,881        674,870  

Unilever N.V.

     46,896        2,305,515  

Unilever PLC

     32,261        1,630,283  

Vodafone Group PLC

     1,749,604        2,451,447  
     

 

 

 
Total United Kingdom

 

     61,209,548  

TOTAL COMMON STOCKS

(Cost: $396,446,447)

 

 

     323,936,721  
EXCHANGE-TRADED FUND – 0.2%

 

United States – 0.2%

 

WisdomTree International MidCap Dividend Fund(c)

     
(Cost: $936,345)      15,533        727,876  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.2%

 

United States – 3.2%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(d)

     
(Cost: $10,238,938)      10,238,938      $ 10,238,938  

TOTAL INVESTMENTS IN SECURITIES – 102.2%

(Cost: $407,621,730)

 

 

     334,903,535  

Other Assets less Liabilities – (2.2)%

 

     (7,281,772
     

 

 

 
NET ASSETS – 100.0%

 

   $ 327,621,763  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $16,348,682 and the total market value of the collateral held by the Fund was $17,283,683. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $7,044,745.

 

(b) 

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

 

(c) 

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

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree International MidCap Dividend Fund

  $ 3,850     $ 3,865,806     $ 3,024,059     $ 91,024     $ (208,745   $ 727,876     $ 80,075  

 

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

Bank of Montreal

    4/1/2020       12,278       USD       20,000       AUD     $ 37     $  

Deutsche Bank AG

    4/1/2020       1,100,000       HKD       1,408,777       SEK             (271

Deutsche Bank AG

    4/1/2020       23,600,000       JPY       2,173,973       SEK             (813

Goldman Sachs

    4/1/2020       561,000       CHF       5,783,420       SEK             (3,915

Goldman Sachs

    4/1/2020       65,000       GBP       803,390       SEK             (491

JP Morgan Chase Bank N.A.

    4/1/2020       230,000       DKK       55,312       AUD             (34

JP Morgan Chase Bank N.A.

    4/1/2020       73,000       GBP       90,788       USD             (271

Royal Bank of Canada

    4/1/2020       31,000       EUR       55,642       AUD             (41
                                            $ 37     $ (5,836

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.4%

 

Australia – 6.6%

 

AGL Energy Ltd.

     58,511      $ 615,603  

Alumina Ltd.

     500,322        447,084  

APA Group(a)

     70,986        445,766  

Aristocrat Leisure Ltd.

     19,894        259,960  

ASX Ltd.

     7,804        368,216  

Atlas Arteria Ltd.(a)

     38,779        130,778  

Aurizon Holdings Ltd.

     137,188        355,176  

AusNet Services

     307,532        321,865  

Bendigo & Adelaide Bank Ltd.(a)

     43,265        166,032  

Boral Ltd.

     82,667        103,723  

Brambles Ltd.

     56,342        364,152  

Caltex Australia Ltd.

     15,702        214,504  

Challenger Ltd.

     55,208        135,160  

Coca-Cola Amatil Ltd.

     56,584        306,149  

Cochlear Ltd.

     1,710        196,186  

Computershare Ltd.(a)

     21,175        125,843  

Crown Resorts Ltd.

     50,537        235,077  

Downer EDI Ltd.

     38,821        70,806  

Evolution Mining Ltd.

     63,525        148,523  

Flight Centre Travel Group Ltd.(a)

     7,713        46,783  

Harvey Norman Holdings Ltd.(a)

     128,785        232,528  

Iluka Resources Ltd.

     27,678        118,243  

Incitec Pivot Ltd.

     58,609        72,461  

Insurance Australia Group Ltd.(a)

     136,635        518,490  

Magellan Financial Group Ltd.(a)

     11,638        309,995  

Medibank Pvt Ltd.(a)

     187,871        305,864  

Newcrest Mining Ltd.

     11,104        156,653  

Orica Ltd.

     17,696        166,253  

Origin Energy Ltd.

     43,524        116,678  

Qantas Airways Ltd.

     96,150        190,081  

QBE Insurance Group Ltd.

     81,233        427,581  

Ramsay Health Care Ltd.

     7,259        254,488  

REA Group Ltd.(a)

     3,324        156,633  

Reece Ltd.(a)

     24,067        134,045  

Santos Ltd.

     82,006        171,656  

Seek Ltd.(a)

     15,317        139,028  

Seven Group Holdings Ltd.(a)

     13,634        93,794  

Sonic Healthcare Ltd.

     21,407        318,775  

South32 Ltd.

     384,759        415,643  

Star Entertainment Group Ltd. (The)

     104,163        137,069  

Suncorp Group Ltd.

     80,807        451,551  

Sydney Airport

     168,679        577,112  

Tabcorp Holdings Ltd.(a)

     142,669        220,921  

Treasury Wine Estates Ltd.

     28,911        177,481  

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

     12,009        124,731  

Whitehaven Coal Ltd.(a)

     134,728        158,736  
     

 

 

 
Total Australia

 

     11,203,876  
Austria – 1.0%

 

Andritz AG*

     7,416        232,561  

BAWAG Group AG(b)

     9,013        252,974  

Lenzing AG

     2,450        135,489  

Raiffeisen Bank International AG

     13,997      205,416  

Telekom Austria AG*

     31,544        219,784  

Verbund AG(a)

     3,714        134,563  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     6,230        117,167  

Voestalpine AG(a)

     16,576        337,115  
     

 

 

 
Total Austria

 

     1,635,069  
Belgium – 2.0%

 

Ackermans & van Haaren N.V.

     891        116,047  

Ageas

     14,505        603,361  

Colruyt S.A.

     6,767        365,834  

Elia System Operator S.A./N.V.

     3,105        303,560  

Melexis N.V.(a)

     2,833        149,830  

Proximus SADP

     30,329        694,523  

Solvay S.A.(a)

     6,549        477,000  

Umicore S.A.

     11,045        385,994  

Warehouses De Pauw CVA

     9,992        286,921  
     

 

 

 
Total Belgium

 

     3,383,070  
China – 3.2%

 

Beijing Enterprises Holdings Ltd.

     50,700        186,096  

China Everbright International Ltd.

     322,407        185,103  

China Jinmao Holdings Group Ltd.

     839,242        543,549  

China Resources Pharmaceutical Group Ltd.(b)

     182,000        109,187  

China Resources Power Holdings Co., Ltd.

     578,000        636,845  

CSPC Pharmaceutical Group Ltd.

     176,000        352,413  

Far East Horizon Ltd.

     251,000        202,396  

Fosun International Ltd.

     507,500        586,667  

Guangdong Investment Ltd.

     358,208        690,452  

Lenovo Group Ltd.

     890,000        477,674  

Shenzhen Investment Ltd.

     664,000        207,315  

Sino-Ocean Group Holding Ltd.

     757,464        192,520  

Sinotruk Hong Kong Ltd.

     205,500        342,018  

Sun Art Retail Group Ltd.

     323,000        479,235  

Yuexiu Property Co., Ltd.

     1,252,000        226,142  
     

 

 

 
Total China

 

     5,417,612  
Denmark – 2.0%

 

Chr Hansen Holding A/S

     2,065        154,492  

Danske Bank A/S

     100,083        1,131,688  

H. Lundbeck A/S

     14,872        441,296  

Novozymes A/S Class B

     5,567        253,187  

Pandora A/S(a)

     13,978        454,026  

Rockwool International A/S Class B

     300        54,258  

Royal Unibrew A/S

     2,150        155,003  

Topdanmark A/S(a)

     6,848        275,902  

Tryg A/S

     19,318        475,224  
     

 

 

 
Total Denmark

 

     3,395,076  
Finland – 2.5%

 

Elisa Oyj(a)

     10,824        670,793  

Huhtamaki Oyj

     4,112        131,657  

Kesko Oyj Class B

     4,838        273,918  

Kojamo Oyj(a)

     9,992        189,453  

Metso Oyj

     9,185        218,900  

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Table of Contents

Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Nokian Renkaat Oyj(a)

     11,878      $ 287,641  

Orion Oyj Class B(a)

     8,554        349,906  

Stora Enso Oyj Class R

     49,390        501,070  

UPM-Kymmene Oyj(a)

     43,077        1,185,910  

Valmet Oyj(a)

     7,769        152,334  

Wartsila Oyj Abp(a)

     26,766        196,479  
     

 

 

 
Total Finland

 

     4,158,061  
France – 7.8%

 

Accor S.A.(a)

     13,821        379,127  

ALD S.A.(a)(b)

     29,085        255,308  

Alstom S.A.

     3,731        156,139  

Amundi S.A.(b)

     14,393        850,438  

Arkema S.A.

     4,370        302,084  

Atos SE

     3,631        245,979  

Bollore S.A.

     73,723        203,040  

Bollore S.A. Non-Voting Shares*

     466        1,527  

Bouygues S.A.

     29,409        862,229  

Bureau Veritas S.A.

     18,596        353,201  

Cie Plastic Omnium S.A.

     9,345        131,402  

CNP Assurances

     44,257        433,164  

Covivio

     5,791        326,287  

Edenred

     9,689        404,945  

Eiffage S.A.

     4,217        298,448  

Elis S.A.

     10,130        96,035  

Eurazeo SE

     2,796        126,153  

Eutelsat Communications S.A.

     27,282        285,163  

Faurecia SE

     8,344        249,944  

Gaztransport Et Technigaz S.A.

     2,623        192,832  

Getlink SE

     24,743        298,370  

ICADE

     6,517        515,929  

Imerys S.A.(a)

     6,445        162,085  

Ingenico Group S.A.

     1,980        210,608  

Ipsen S.A.

     1,567        81,121  

JCDecaux S.A.

     6,910        125,103  

Klepierre S.A.

     32,370        624,051  

Lagardere SCA

     11,228        141,679  

Natixis S.A.(a)

     371,364        1,208,991  

Orpea

     1,407        147,050  

Publicis Groupe S.A.

     14,341        411,016  

Remy Cointreau S.A.(a)

     1,645        179,866  

Rexel S.A.

     21,641        160,995  

Rubis SCA

     4,233        176,776  

SCOR SE

     13,284        292,684  

SEB S.A.

     1,114        138,735  

Societe BIC S.A.

     3,253        181,502  

Suez

     46,254        470,778  

Teleperformance

     1,539        320,509  

Valeo S.A.

     19,120        319,936  

Veolia Environnement S.A.

     36,086        771,120  

Wendel S.A.

     1,807        144,343  
     

 

 

 
Total France

 

     13,236,692  
Germany – 5.2%

 

Bechtle AG

     285      36,557  

Brenntag AG

     7,469        277,249  

Commerzbank AG

     70,505        255,951  

Covestro AG(b)

     16,264        497,359  

DWS Group GmbH & Co. KGaA(b)

     14,305        353,792  

Evonik Industries AG

     32,239        674,587  

Fielmann AG

     3,532        205,982  

Fuchs Petrolub SE

     2,645        84,745  

GEA Group AG

     9,434        193,831  

HeidelbergCement AG

     8,802        377,531  

Hella GmbH & Co. KGaA

     5,066        147,638  

Hochtief AG

     4,902        325,413  

Hugo Boss AG

     5,937        150,547  

KION Group AG

     4,282        185,306  

LANXESS AG

     1,927        77,006  

LEG Immobilien AG

     3,330        375,250  

Merck KGaA

     3,020        310,228  

METRO AG

     34,788        300,331  

MTU Aero Engines AG

     1,521        222,550  

ProSiebenSat.1 Media SE

     29,484        233,900  

Rheinmetall AG

     1,774        124,694  

Scout24 AG(b)

     3,306        198,606  

Stroeer SE & Co. KGaA

     3,185        165,791  

Suedzucker AG

     11,981        171,820  

Symrise AG

     2,943        274,483  

Talanx AG

     14,189        482,013  

Telefonica Deutschland Holding AG

     497,403        1,232,907  

TUI AG

     75,996        342,236  

Uniper SE

     18,758        462,894  

Wacker Chemie AG

     3,100        154,801  
     

 

 

 
Total Germany

 

     8,895,998  
Hong Kong – 2.9%

 

Bank of East Asia Ltd. (The)

     157,580        339,113  

Hang Lung Group Ltd.

     107,000        225,571  

Hang Lung Properties Ltd.

     311,000        631,558  

Hysan Development Co., Ltd.

     65,000        211,330  

PCCW Ltd.

     847,543        466,915  

Power Assets Holdings Ltd.

     162,500        971,742  

Sino Land Co., Ltd.

     415,046        526,913  

SJM Holdings Ltd.

     325,000        274,646  

Techtronic Industries Co., Ltd.

     53,500        347,192  

Wharf Holdings Ltd. (The)(a)

     147,000        260,587  

Wheelock & Co., Ltd.

     88,000        600,601  
     

 

 

 
Total Hong Kong

 

     4,856,168  
Ireland – 0.8%

 

AIB Group PLC*

     184,087        206,433  

Bank of Ireland Group PLC

     58,533        110,724  

DCC PLC

     2,894        183,009  

Flutter Entertainment PLC

     4,117        372,865  

Glanbia PLC

     9,359        101,357  

Smurfit Kappa Group PLC

     12,802        361,289  
     

 

 

 
Total Ireland

 

     1,335,677  

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2020

 

 

 

Investments    Shares      Value  
Israel – 0.6%

 

Azrieli Group Ltd.

     4,314      $ 249,758  

Bank Leumi Le-Israel BM

     81,489        451,507  

Elbit Systems Ltd.

     1,113        145,487  

Israel Chemicals Ltd.

     76,437        243,738  
     

 

 

 
Total Israel

 

     1,090,490  
Italy – 4.4%

 

A2A SpA

     188,451        234,279  

ACEA SpA

     15,040        238,958  

Banca Generali SpA

     11,181        234,571  

Banca Mediolanum SpA

     67,364        343,706  

De’ Longhi SpA

     6,423        107,406  

DiaSorin SpA

     1,001        132,571  

Enav SpA(b)

     45,710        201,223  

ERG SpA

     9,847        176,223  

FinecoBank Banca Fineco SpA

     32,748        297,883  

Freni Brembo SpA(a)

     9,582        71,442  

Hera SpA

     88,657        317,908  

IMA Industria Macchine Automatiche SpA(a)

     1,696        99,188  

Infrastrutture Wireless Italiane SpA(b)

     32,075        347,720  

Iren SpA

     68,000        167,879  

Italgas SpA

     58,542        320,470  

Leonardo SpA

     11,801        78,624  

Mediobanca Banca di Credito Finanziario SpA

     67,566        372,760  

Moncler SpA

     4,118        150,420  

Pirelli & C SpA(b)

     50,229        179,946  

Poste Italiane SpA(b)

     94,204        797,981  

Prysmian SpA

     8,992        144,051  

Recordati SpA

     8,499        359,406  

Telecom Italia SpA RSP

     573,765        226,958  

Terna Rete Elettrica Nazionale SpA

     121,193        767,289  

Unione di Banche Italiane SpA

     86,063        227,299  

Unipol Gruppo SpA

     61,886        212,812  

UnipolSai Assicurazioni SpA

     280,465        689,338  
     

 

 

 
Total Italy

 

     7,498,311  
Japan – 28.0%

 

ABC-Mart, Inc.

     3,578        179,306  

Advantest Corp.(a)

     10,700        430,161  

AEON Financial Service Co., Ltd.(a)

     17,400        186,644  

Aeon Mall Co., Ltd.

     10,700        135,094  

AGC, Inc.

     10,828        266,700  

Air Water, Inc.

     4,300        59,189  

Aisin Seiki Co., Ltd.

     18,000        444,185  

Ajinomoto Co., Inc.

     17,600        327,774  

Alfresa Holdings Corp.

     9,800        182,828  

Alps Alpine Co., Ltd.(a)

     12,300        119,519  

Amada Holdings Co., Ltd.

     27,000        213,339  

ANA Holdings, Inc.

     11,200        273,788  

Aozora Bank Ltd.(a)

     13,800        263,588  

Asahi Kasei Corp.

     61,600        436,401  

Bandai Namco Holdings, Inc.(a)

     10,300        500,044  

Brother Industries Ltd.

     14,500        222,157  

Canon Marketing Japan, Inc.

     10,100        200,587  

Casio Computer Co., Ltd.

     18,100      254,344  

Chiba Bank Ltd. (The)(a)

     53,800        235,722  

Chubu Electric Power Co., Inc.

     33,400        471,662  

Chugoku Electric Power Co., Inc. (The)(a)

     23,300        325,473  

Coca-Cola Bottlers Japan Holdings, Inc.

     8,300        170,605  

COMSYS Holdings Corp.(a)

     8,300        213,968  

Concordia Financial Group Ltd.

     90,200        263,193  

Dai Nippon Printing Co., Ltd.

     17,979        383,212  

Daicel Corp.

     23,100        168,829  

Daifuku Co., Ltd.(a)

     3,500        222,083  

Daito Trust Construction Co., Ltd.

     4,820        449,384  

Daiwa Securities Group, Inc.

     107,300        416,657  

Dentsu Group, Inc.

     10,800        208,787  

Disco Corp.

     1,700        336,362  

Electric Power Development Co., Ltd.

     6,900        139,208  

FamilyMart Co., Ltd.(a)

     11,700        210,038  

Fuji Electric Co., Ltd.

     6,175        140,082  

Fujitsu Ltd.

     6,300        569,279  

Fukuoka Financial Group, Inc.

     12,900        170,996  

Hakuhodo DY Holdings, Inc.

     12,400        125,200  

Hankyu Hanshin Holdings, Inc.

     5,800        195,294  

Haseko Corp.

     36,800        394,401  

Hikari Tsushin, Inc.

     2,100        352,675  

Hino Motors Ltd.

     34,600        186,213  

Hirose Electric Co., Ltd.

     1,775        184,151  

Hitachi Chemical Co., Ltd.

     9,000        382,659  

Hitachi Construction Machinery Co., Ltd.(a)

     12,500        253,462  

Hitachi High-Tech Corp.

     4,600        340,031  

Hitachi Metals Ltd.(a)

     24,000        253,217  

Hulic Co., Ltd.

     32,100        326,486  

Idemitsu Kosan Co., Ltd.(a)

     10,666        244,827  

IHI Corp.

     8,700        101,703  

Iida Group Holdings Co., Ltd.

     17,200        238,510  

Inpex Corp.

     53,700        302,835  

Isuzu Motors Ltd.

     37,000        245,159  

Itochu Techno-Solutions Corp.

     10,100        288,625  

J. Front Retailing Co., Ltd.

     20,400        169,693  

Japan Airlines Co., Ltd.(a)

     15,100        278,347  

Japan Exchange Group, Inc.

     33,800        596,756  

Japan Post Insurance Co., Ltd.(a)

     32,400        402,468  

JSR Corp.

     16,300        300,921  

JTEKT Corp.

     24,900        169,529  

Kajima Corp.

     21,976        225,755  

Kansai Electric Power Co., Inc. (The)

     56,000        624,297  

Kansai Paint Co., Ltd.(a)

     7,700        146,789  

Kawasaki Heavy Industries Ltd.(a)

     10,556        153,419  

Kintetsu Group Holdings Co., Ltd.

     3,900        180,631  

Kobe Bussan Co., Ltd.

     2,100        82,868  

Koito Manufacturing Co., Ltd.

     4,100        138,812  

Konami Holdings Corp.

     5,900        181,173  

Konica Minolta, Inc.

     24,900        101,256  

Kose Corp.(a)

     1,400        172,868  

Kuraray Co., Ltd.

     20,600        208,376  

Kurita Water Industries Ltd.

     4,100        94,871  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Table of Contents

Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Kyowa Kirin Co., Ltd.

     17,900      $ 401,591  

Kyushu Electric Power Co., Inc.(a)

     21,500        173,067  

Kyushu Railway Co.(a)

     7,700        221,111  

Lawson, Inc.

     9,300        510,852  

LIXIL Group Corp.

     24,100        300,259  

Makita Corp.

     9,258        284,288  

Marubeni Corp.

     105,300        525,744  

Marui Group Co., Ltd.(a)

     10,700        179,894  

Mazda Motor Corp.(a)

     24,300        128,754  

Mebuki Financial Group, Inc.

     110,700        225,594  

Medipal Holdings Corp.

     10,700        200,015  

MEIJI Holdings Co., Ltd.

     5,200        369,932  

MINEBEA MITSUMI, Inc.

     10,800        161,467  

Mitsubishi Chemical Holdings Corp.

     115,600        688,321  

Mitsubishi Gas Chemical Co., Inc.

     22,600        246,191  

Mitsubishi Heavy Industries Ltd.

     14,600        369,547  

Mitsubishi Materials Corp.(a)

     9,600        196,971  

Mitsubishi Motors Corp.(a)

     92,700        262,759  

Mitsubishi UFJ Lease & Finance Co., Ltd.

     48,900        240,978  

Mitsui Chemicals, Inc.

     12,600        239,383  

Nabtesco Corp.

     6,700        154,847  

NEC Corp.

     8,760        320,117  

NGK Insulators Ltd.

     23,300        305,832  

NGK Spark Plug Co., Ltd.

     12,300        173,411  

NH Foods Ltd.

     4,900        170,891  

Nikon Corp.

     26,600        245,906  

Nippon Express Co., Ltd.

     4,600        225,409  

Nippon Paint Holdings Co., Ltd.

     5,800        304,090  

Nissan Chemical Corp.

     4,900        178,834  

Nisshin Seifun Group, Inc.

     10,700        178,606  

Nissin Foods Holdings Co., Ltd.

     3,900        325,135  

Nitori Holdings Co., Ltd.

     1,900        256,607  

Nitto Denko Corp.

     10,700        478,232  

Nomura Holdings, Inc.(a)

     110,400        468,168  

Nomura Real Estate Holdings, Inc.(a)

     10,768        175,053  

Nomura Research Institute Ltd.

     23,130        490,218  

NS Solutions Corp.

     1,000        24,381  

NSK Ltd.

     31,500        202,501  

Obayashi Corp.

     29,200        250,467  

Obic Co., Ltd.

     3,600        472,197  

Oji Holdings Corp.

     32,262        173,032  

Omron Corp.

     6,000        312,908  

Ono Pharmaceutical Co., Ltd.

     21,000        483,590  

Oracle Corp.

     3,668        320,744  

Osaka Gas Co., Ltd.

     17,900        337,589  

Otsuka Corp.

     6,700        286,731  

Park24 Co., Ltd.

     9,000        132,639  

Pigeon Corp.(a)

     4,200        161,262  

Pola Orbis Holdings, Inc.

     13,000        240,239  

Resona Holdings, Inc.

     168,200        506,680  

Ricoh Co., Ltd.(a)

     26,660        196,082  

Rohm Co., Ltd.

     3,500        192,256  

Ryohin Keikaku Co., Ltd.

     10,700        120,326  

Sankyo Co., Ltd.

     7,900        230,147  

Santen Pharmaceutical Co., Ltd.

     14,200      244,394  

SBI Holdings, Inc.(a)

     14,400        210,488  

SCSK Corp.

     4,000        178,408  

Seibu Holdings, Inc.

     10,300        113,347  

Seiko Epson Corp.(a)

     17,900        193,998  

Sekisui Chemical Co., Ltd.

     23,600        313,268  

Sekisui House Ltd.

     42,600        704,180  

Seven Bank Ltd.

     72,400        187,111  

SG Holdings Co., Ltd.

     9,400        224,040  

Sharp Corp.(a)

     19,300        202,913  

Shimadzu Corp.

     3,900        102,779  

Shimamura Co., Ltd.

     1,500        90,593  

Shimano, Inc.

     2,400        343,254  

Shimizu Corp.

     51,000        399,194  

Shizuoka Bank Ltd. (The)

     23,800        144,844  

Showa Denko K.K.

     10,200        211,360  

Sojitz Corp.

     103,800        244,224  

Sompo Holdings, Inc.

     17,800        551,206  

Sony Financial Holdings, Inc.

     19,809        335,242  

Stanley Electric Co., Ltd.

     8,300        163,916  

SUMCO Corp.

     25,000        322,588  

Sumitomo Chemical Co., Ltd.

     111,200        330,649  

Sumitomo Dainippon Pharma Co., Ltd.

     9,190        119,435  

Sumitomo Electric Industries Ltd.

     32,212        339,561  

Sumitomo Heavy Industries Ltd.

     7,900        142,772  

Sumitomo Metal Mining Co., Ltd.

     10,100        207,511  

Sumitomo Mitsui Trust Holdings, Inc.

     18,900        546,928  

Sumitomo Rubber Industries Ltd.

     23,600        222,763  

Suntory Beverage & Food Ltd.

     9,900        374,614  

Sysmex Corp.

     3,500        254,375  

T&D Holdings, Inc.

     41,351        338,607  

Taiheiyo Cement Corp.

     7,300        125,098  

Taisei Corp.

     10,775        329,872  

Taiyo Nippon Sanso Corp.

     10,800        160,167  

TDK Corp.

     3,600        279,450  

Teijin Ltd.

     16,300        276,310  

Toho Co., Ltd.

     5,400        165,069  

Tohoku Electric Power Co., Inc.

     26,800        258,430  

Tokyo Century Corp.(a)

     4,600        144,236  

Tokyo Gas Co., Ltd.

     16,500        390,663  

Tokyu Corp.

     14,600        229,911  

Tokyu Fudosan Holdings Corp.

     24,000        115,159  

Toray Industries, Inc.

     44,100        191,588  

Tosoh Corp.

     22,100        251,799  

TOTO Ltd.

     7,000        233,106  

Toyota Tsusho Corp.

     16,600        391,493  

Trend Micro, Inc.

     8,330        412,044  

USS Co., Ltd.

     14,800        203,722  

Workman Co., Ltd.(a)

     1,100        60,525  

Yamada Denki Co., Ltd.

     53,700        214,392  

Yamaha Corp.

     5,100        199,125  

Yamaha Motor Co., Ltd.

     25,160        304,610  

Yamato Holdings Co., Ltd.(a)

     10,600        166,627  

Yaskawa Electric Corp.

     7,700        212,266  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2020

 

 

 

Investments    Shares      Value  

Yokogawa Electric Corp.

     8,200      $ 98,973  

Yokohama Rubber Co., Ltd. (The)

     10,800        134,356  
     

 

 

 
Total Japan

 

     47,364,863  
Kazakhstan – 0.0%

 

KAZ Minerals PLC(a)

     15,031        65,456  
Netherlands – 2.5%

 

Aalberts N.V.

     7,048        167,351  

Aegon N.V.

     223,478        567,419  

ASM International N.V.

     1,234        123,675  

ASR Nederland N.V.

     11,583        291,809  

Euronext N.V.(b)

     4,241        315,503  

GrandVision N.V.(a)(b)

     6,452        176,562  

Koninklijke KPN N.V.

     281,271        671,567  

Koninklijke Vopak N.V.

     7,296        379,623  

NN Group N.V.

     25,642        692,138  

Randstad N.V.

     12,211        431,031  

Rhi Magnesita N.V.

     2,743        69,724  

SBM Offshore N.V.(a)

     9,781        129,216  

Signify N.V.(b)

     8,903        172,810  
     

 

 

 
Total Netherlands

 

     4,188,428  
New Zealand – 1.0%

 

Contact Energy Ltd.

     48,445        165,431  

Fisher & Paykel Healthcare Corp., Ltd.

     17,747        319,637  

Mercury NZ Ltd.

     94,652        236,803  

Meridian Energy Ltd.

     189,594        454,099  

Ryman Healthcare Ltd.

     16,112        98,386  

Spark New Zealand Ltd.

     199,979        484,308  
     

 

 

 
Total New Zealand

 

     1,758,664  
Norway – 1.9%

 

Aker ASA Class A

     5,774        129,545  

Aker BP ASA

     32,634        412,082  

Gjensidige Forsikring ASA

     34,818        590,358  

Leroy Seafood Group ASA

     34,648        168,736  

Mowi ASA

     41,268        623,481  

Norsk Hydro ASA

     98,566        212,319  

Orkla ASA

     54,886        465,284  

Schibsted ASA Class A

     4,660        88,199  

SpareBank 1 SR-Bank ASA

     20,478        115,446  

Storebrand ASA(a)

     31,239        124,200  

Yara International ASA

     6,724        210,857  
     

 

 

 
Total Norway

 

     3,140,507  
Portugal – 1.3%

 

EDP – Energias de Portugal S.A.

     251,797        1,010,648  

Galp Energia, SGPS, S.A.

     53,879        614,539  

Jeronimo Martins, SGPS, S.A.

     25,099        452,756  

NOS, SGPS, S.A.

     50,188        168,070  
     

 

 

 
Total Portugal

 

     2,246,013  
Singapore – 2.3%

 

CapitaLand Ltd.

     171,600        343,477  

City Developments Ltd.

     31,500        160,171  

ComfortDelGro Corp., Ltd.

     175,700        187,565  

Frasers Property Ltd.

     112,300      87,546  

Genting Singapore Ltd.

     747,300        362,143  

Jardine Cycle & Carriage Ltd.

     17,811        246,053  

Keppel Corp., Ltd.(a)

     94,900        352,580  

Olam International Ltd.

     183,900        184,694  

SATS Ltd.

     88,000        195,301  

Singapore Airlines Ltd.(a)

     78,861        317,914  

Singapore Exchange Ltd.

     95,700        617,680  

Singapore Technologies Engineering Ltd.

     204,100        447,233  

UOL Group Ltd.

     32,400        149,502  

Venture Corp., Ltd.

     19,800        188,704  
     

 

 

 
Total Singapore

 

     3,840,563  
Spain – 2.4%

 

Acciona S.A.

     3,187        340,427  

ACS Actividades de Construccion y Servicios S.A.

     18,155        354,885  

Banco de Sabadell S.A.

     253,766        130,591  

Bankia S.A.(a)

     255,673        285,587  

Bankinter S.A.

     57,620        211,420  

Cia de Distribucion Integral Logista Holdings S.A.

     10,374        166,076  

Cie Automotive S.A.

     6,028        92,996  

Ebro Foods S.A.

     9,679        197,643  

Enagas S.A.

     23,358        463,767  

Fomento de Construcciones y Contratas S.A.

     22,134        180,206  

Gestamp Automocion S.A.(a)(b)

     29,266        74,629  

Grupo Catalana Occidente S.A.

     6,108        123,451  

Mapfre S.A.

     241,919        413,166  

Prosegur Cash S.A.(b)

     72,019        69,224  

Red Electrica Corp. S.A.

     38,390        689,350  

Zardoya Otis S.A.

     43,127        291,025  
     

 

 

 
Total Spain

 

     4,084,443  
Sweden – 3.3%

 

Alfa Laval AB

     15,572        270,727  

Axfood AB

     18,161        370,636  

Boliden AB

     18,606        340,469  

Castellum AB

     13,891        235,543  

Epiroc AB Class A

     20,461        203,336  

Evolution Gaming Group AB(b)

     4,645        158,464  

Fabege AB

     16,256        208,867  

Holmen AB Class B(a)

     8,524        234,701  

Husqvarna AB Class B

     21,158        106,647  

ICA Gruppen AB(a)

     10,576        446,088  

Intrum AB(a)

     8,283        110,647  

Investment AB Latour Class B(a)

     21,784        311,335  

Lundin Petroleum AB

     16,183        311,158  

Securitas AB Class B

     16,591        179,931  

Skanska AB Class B(a)

     21,420        327,428  

SKF AB Class B(a)

     20,911        288,516  

SSAB AB Class B(a)

     87,740        194,561  

Svenska Cellulosa AB SCA Class B(a)

     21,854        221,569  

Swedish Match AB(a)

     7,870        451,180  

Tele2 AB Class B

     30,234        407,079  

Trelleborg AB Class B

     17,607        190,772  
     

 

 

 
Total Sweden

 

     5,569,654  

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Table of Contents

Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2020

 

 

 

Investments    Shares      Value  
Switzerland – 4.0%

 

Adecco Group AG Registered Shares

     10,079      $ 397,306  

Baloise Holding AG Registered Shares

     2,779        364,483  

BKW AG

     2,338        191,863  

Bucher Industries AG Registered Shares

     527        139,872  

Clariant AG Registered Shares*(a)

     15,312        257,402  

Coca-Cola HBC AG*

     10,433        224,705  

DKSH Holding AG*

     3,167        157,180  

Dufry AG Registered Shares*

     3,989        124,013  

EMS-Chemie Holding AG Registered Shares

     994        625,135  

Flughafen Zurich AG Registered Shares

     1,861        209,652  

Georg Fischer AG Registered Shares

     227        156,956  

Helvetia Holding AG Registered Shares

     2,901        249,758  

Julius Baer Group Ltd.*

     11,907        406,478  

Logitech International S.A. Registered Shares

     5,797        250,681  

OC Oerlikon Corp. AG Registered Shares

     10,972        87,998  

SFS Group AG

     2,003        149,053  

SIG Combibloc Group AG*

     16,905        252,994  

Sonova Holding AG Registered Shares

     1,580        284,794  

STMicroelectronics N.V.

     21,277        464,006  

Straumann Holding AG Registered Shares

     238        177,452  

Sulzer AG Registered Shares

     2,161        136,465  

Sunrise Communications Group AG*(b)

     4,007        322,614  

Swatch Group AG (The) Bearer Shares

     1,791        358,089  

Swatch Group AG (The) Registered Shares

     4,602        181,122  

VAT Group AG*(b)

     2,060        285,298  

Vifor Pharma AG

     1,701        235,139  

Vontobel Holding AG Registered Shares

     2,700        132,830  
     

 

 

 
Total Switzerland

 

     6,823,338  
United Kingdom – 13.7%

 

Admiral Group PLC

     26,900        743,809  

Antofagasta PLC

     53,028        508,264  

Ashmore Group PLC(a)

     48,956        216,588  

Ashtead Group PLC

     11,826        258,887  

Auto Trader Group PLC(b)

     18,193        99,054  

Avast PLC(b)

     40,716        198,611  

AVEVA Group PLC

     2,961        128,282  

Babcock International Group PLC

     51,300        243,751  

Barratt Developments PLC

     117,285        641,336  

Beazley PLC

     27,932        135,281  

Bellway PLC

     9,186        245,572  

Britvic PLC

     18,495        160,874  

Bunzl PLC

     11,111        224,498  

Burberry Group PLC

     16,640        273,281  

Carnival PLC

     13,637        165,947  

Centrica PLC

     1,067,767        504,171  

Cineworld Group PLC

     89,251        54,924  

CNH Industrial N.V.

     42,199        241,516  

ConvaTec Group PLC(b)

     115,094        266,156  

Croda International PLC

     4,038        213,896  

Derwent London PLC

     3,633        147,305  

Direct Line Insurance Group PLC

     118,897        436,235  

DS Smith PLC

     95,111        324,787  

easyJet PLC

     41,358      292,819  

Electrocomponents PLC

     15,998        102,397  

Evraz PLC

     226,654        650,888  

Fresnillo PLC

     29,705        245,601  

Hargreaves Lansdown PLC

     15,176        260,810  

Hikma Pharmaceuticals PLC

     7,103        179,230  

HomeServe PLC

     13,069        171,448  

Howden Joinery Group PLC

     27,912        177,201  

IMI PLC

     22,568        209,146  

Inchcape PLC

     30,971        166,360  

Informa PLC

     50,964        279,691  

Intertek Group PLC

     4,585        268,681  

Investec PLC

     44,819        84,416  

J Sainsbury PLC

     209,343        546,146  

John Wood Group PLC

     64,607        124,690  

Johnson Matthey PLC

     8,535        190,282  

Land Securities Group PLC

     61,909        427,422  

Mediclinic International PLC

     36,408        121,618  

Meggitt PLC

     39,503        142,194  

Melrose Industries PLC

     200,574        227,562  

Mondi PLC

     17,406        298,055  

Next PLC

     6,060        305,974  

Pearson PLC

     27,224        186,538  

Pennon Group PLC

     32,554        438,166  

Persimmon PLC

     56,030        1,331,477  

Phoenix Group Holdings PLC

     76,019        590,632  

Quilter PLC(b)

     104,182        152,433  

Renishaw PLC

     1,278        50,139  

Rentokil Initial PLC

     47,156        226,751  

Rightmove PLC

     29,570        178,707  

RSA Insurance Group PLC

     46,309        241,397  

Sage Group PLC (The)

     42,750        313,701  

Schroders PLC

     12,204        375,888  

Schroders PLC Non-Voting Shares

     4,673        122,839  

Segro PLC

     45,639        432,348  

Severn Trent PLC

     15,211        430,028  

Signature Aviation PLC

     67,112        137,306  

Smiths Group PLC

     18,973        288,424  

Spectris PLC

     5,827        177,595  

Spirax-Sarco Engineering PLC

     2,334        236,299  

SSE PLC

     130,943        2,118,834  

St. James’s Place PLC

     35,979        338,874  

Standard Life Aberdeen PLC

     311,909        865,937  

Tate & Lyle PLC

     32,168        261,657  

Taylor Wimpey PLC

     189,630        276,280  

TechnipFMC PLC

     19,722        135,639  

Unite Group PLC (The)

     18,035        179,235  

United Utilities Group PLC

     48,146        538,959  

Weir Group PLC (The)

     14,604        130,560  

Whitbread PLC

     6,660        250,219  

WM Morrison Supermarkets PLC

     144,403        318,713  
     

 

 

 
Total United Kingdom

 

     23,231,231  
TOTAL COMMON STOCKS
(Cost: $211,473,765)

 

     168,419,260  

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2020

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 6.1%

 

United States – 6.1%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(c)

     
(Cost: $10,267,995)      10,267,995      $ 10,267,995  
TOTAL INVESTMENTS IN SECURITIES – 105.5%
(Cost: $221,741,760)

 

     178,687,255  

Other Assets less Liabilities – (5.5)%

 

     (9,274,268
     

 

 

 
NET ASSETS – 100.0%

 

   $ 169,412,987  
 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $46,783, which represents 0.03% of net assets.

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $18,056,833. The Fund also had securities on loan having a total market value of $131,767 that were sold and pending settlement. The total market value of the collateral held by the Fund was $19,066,832. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $8,798,837.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

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

Canadian Imperial Bank of Commerce

    4/2/2020       550,000       HKD       57,170       GBP     $ 72     $  

Citibank N.A.

    4/1/2020       17,119,371       JPY       1,590,000       SEK             (1,903

Deutsche Bank AG

    4/1/2020       7,000       AUD       3,461       GBP             (7

Deutsche Bank AG

    4/2/2020       400,000       NOK       30,973       GBP             (313

Goldman Sachs

    4/2/2020       25,000,000       JPY       187,129       GBP             (452

JP Morgan Chase Bank N.A.

    4/1/2020       78,000       CHF       65,618       GBP             (747

JP Morgan Chase Bank N.A.

    4/1/2020       430,000       HKD       44,729       GBP       15        

JP Morgan Chase Bank N.A.

    4/2/2020       16,000       CHF       13,378       GBP             (52

Morgan Stanley & Co. International

    4/1/2020       14,880       AUD       62,000       DKK             (9

Morgan Stanley & Co. International

    4/1/2020       20,446       AUD       133,000       NOK             (152

Morgan Stanley & Co. International

    4/1/2020       5,847       AUD       6,000       NZD       23        

Morgan Stanley & Co. International

    4/1/2020       353,000       EUR       314,435       GBP             (2,554

Morgan Stanley & Co. International

    4/1/2020       112,000       ILS       31,403       USD       259        

Royal Bank of Canada

    4/1/2020       10,000,000       JPY       74,759       GBP             (66

Royal Bank of Canada

    4/1/2020       40,500       SGD       28,445       USD             (2

Royal Bank of Canada

    4/2/2020       110,000       AUD       54,383       GBP             (107

Royal Bank of Canada

    4/2/2020       25,000       EUR       22,182       GBP             (74

Royal Bank of Canada

    4/2/2020       25,000       SGD       119,150       DKK       38        

Societe Generale

    4/2/2020       330,000       SEK       225,302       DKK       179        
                                            $ 586     $ (6,438

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Table of Contents

Schedule of Investments

WisdomTree International Multifactor Fund (DWMF)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 96.2%

 

Australia – 8.0%

 

AGL Energy Ltd.

     7,778      $ 81,834  

Aristocrat Leisure Ltd.

     3,046        39,803  

ASX Ltd.

     6,352        299,706  

Aurizon Holdings Ltd.

     57,234        148,177  

Brambles Ltd.

     21,358        138,042  

Challenger Ltd.

     7,315        17,909  

CIMIC Group Ltd.

     2,677        38,094  

Coca-Cola Amatil Ltd.

     19,271        104,266  

Coles Group Ltd.

     7,454        69,163  

Commonwealth Bank of Australia

     2,469        93,420  

Computershare Ltd.

     26,895        159,837  

Flight Centre Travel Group Ltd.

     3,254        19,737  

Fortescue Metals Group Ltd.

     15,743        96,355  

Macquarie Group Ltd.

     3,854        202,271  

Orica Ltd.

     13,180        123,826  

Qantas Airways Ltd.

     14,958        29,571  

QBE Insurance Group Ltd.

     45,739        240,753  

Ramsay Health Care Ltd.

     4,196        147,104  

Rio Tinto Ltd.

     2,139        110,717  

Santos Ltd.

     71,452        149,564  

Sonic Healthcare Ltd.

     10,299        153,364  

Tabcorp Holdings Ltd.

     53,770        83,262  

Telstra Corp., Ltd.

     65,572        123,209  
     

 

 

 
Total Australia

 

     2,669,984  
Austria – 0.5%

 

OMV AG

     6,304        174,033  
China – 0.1%

 

WH Group Ltd.(a)

     45,500        42,560  
Denmark – 3.5%

 

Carlsberg A/S Class B

     2,230        252,420  

Coloplast A/S Class B

     2,647        384,003  

Novo Nordisk A/S Class B

     2,969        178,621  

Pandora A/S

     1,983        64,411  

Tryg A/S

     12,056        296,578  
     

 

 

 
Total Denmark

 

     1,176,033  
Finland – 1.2%

 

Elisa Oyj

     1,948        120,723  

Fortum Oyj

     1,813        26,607  

Neste Oyj

     3,124        105,748  

Orion Oyj Class B

     3,256        133,188  
     

 

 

 
Total Finland

 

     386,266  
France – 8.2%

 

BioMerieux

     4,276        481,383  

Carrefour S.A.

     19,712        311,782  

Electricite de France S.A.

     14,488        114,236  

Ipsen S.A.

     5,689        294,510  

Orange S.A.

     29,668        362,480  

Publicis Groupe S.A.

     7,972        228,479  

Sartorius Stedim Biotech

     1,804        362,237  

Veolia Environnement S.A.

     12,150        259,633  

Vivendi S.A.

     14,625        313,323  
     

 

 

 
Total France

 

     2,728,063  
Germany – 5.2%

 

Deutsche Telekom AG Registered Shares

     26,066      337,891  

Deutsche Wohnen SE Bearer Shares

     8,805        335,343  

E.ON SE

     26,191        271,316  

Henkel AG & Co. KGaA (Preference Shares)

     4,146        333,002  

RWE AG

     8,074        212,267  

Uniper SE

     10,238        252,645  
     

 

 

 
Total Germany

 

     1,742,464  
Hong Kong – 4.4%

 

CK Asset Holdings Ltd.

     23,000        125,966  

CK Hutchison Holdings Ltd.

     23,500        158,569  

CK Infrastructure Holdings Ltd.

     15,500        82,390  

Henderson Land Development Co., Ltd.

     31,000        118,186  

Jardine Matheson Holdings Ltd.

     2,800        140,000  

Jardine Strategic Holdings Ltd.

     5,400        119,880  

Kerry Properties Ltd.

     31,000        81,791  

PCCW Ltd.

     385,000        212,098  

Power Assets Holdings Ltd.

     16,500        98,669  

Sino Land Co., Ltd.

     116,000        147,266  

Swire Pacific Ltd. Class A

     15,500        99,888  

Wheelock & Co., Ltd.

     10,000        68,250  
     

 

 

 
Total Hong Kong

 

     1,452,953  
Israel – 3.6%

 

Azrieli Group Ltd.

     2,708        156,779  

Bank Hapoalim BM

     5,773        34,777  

Bank Leumi Le-Israel BM

     58,285        322,941  

Check Point Software Technologies Ltd.*

     1,854        186,401  

Israel Discount Bank Ltd. Class A

     81,908        243,123  

Mizrahi Tefahot Bank Ltd.

     13,483        252,436  
     

 

 

 
Total Israel

 

     1,196,457  
Italy – 0.8%

 

Assicurazioni Generali SpA

     19,647        267,531  
Japan – 28.2%

 

ABC-Mart, Inc.

     1,900        95,216  

Ajinomoto Co., Inc.

     3,100        57,733  

Asahi Group Holdings Ltd.

     3,000        97,541  

Astellas Pharma, Inc.

     9,400        145,500  

Benesse Holdings, Inc.

     2,800        71,352  

Bridgestone Corp.

     3,700        113,891  

Calbee, Inc.

     3,700        100,113  

Casio Computer Co., Ltd.

     8,100        113,822  

Chubu Electric Power Co., Inc.

     2,700        38,128  

Chugai Pharmaceutical Co., Ltd.

     1,800        208,420  

Chugoku Electric Power Co., Inc. (The)

     4,400        61,463  

Dai Nippon Printing Co., Ltd.

     3,300        70,338  

Daito Trust Construction Co., Ltd.

     500        46,617  

Daiwa House Industry Co., Ltd.

     3,300        81,847  

FUJIFILM Holdings Corp.

     4,400        221,681  

Fujitsu Ltd.

     1,700        153,615  

Fukuoka Financial Group, Inc.

     2,600        34,464  

Hakuhodo DY Holdings, Inc.

     3,400        34,329  

Hikari Tsushin, Inc.

     300        50,382  

 

See Notes to Financial Statements.

 

54   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2020

 

 

 

Investments    Shares      Value  

Hitachi Ltd.

     5,100      $ 148,481  

Hoya Corp.

     1,400        119,309  

Hulic Co., Ltd.

     15,900        161,717  

Inpex Corp.

     13,900        78,388  

ITOCHU Corp.

     8,400        174,489  

Itochu Techno-Solutions Corp.

     7,400        211,468  

Japan Airlines Co., Ltd.

     5,300        97,698  

Japan Tobacco, Inc.

     5,200        96,144  

JXTG Holdings, Inc.

     39,500        135,454  

Kamigumi Co., Ltd.

     7,400        125,304  

Kao Corp.

     1,300        106,331  

KDDI Corp.

     3,700        109,333  

Keihan Holdings Co., Ltd.

     2,600        115,604  

Kyowa Kirin Co., Ltd.

     6,100        136,855  

Lawson, Inc.

     600        32,958  

Marubeni Corp.

     11,400        56,918  

McDonald’s Holdings Co., Japan Ltd.

     3,700        166,912  

MEIJI Holdings Co., Ltd.

     1,800        128,053  

Mitsubishi Heavy Industries Ltd.

     3,300        83,528  

MS&AD Insurance Group Holdings, Inc.

     11,100        311,032  

NEC Corp.

     4,000        146,172  

Nexon Co., Ltd.*

     2,900        47,413  

Nintendo Co., Ltd.

     100        38,544  

Nippon Telegraph & Telephone Corp.

     5,100        121,672  

Nitori Holdings Co., Ltd.

     500        67,528  

Nomura Holdings, Inc.

     9,100        38,590  

Nomura Research Institute Ltd.

     9,200        194,985  

NTT DOCOMO, Inc.

     5,100        159,536  

Obayashi Corp.

     11,300        96,927  

Olympus Corp.

     7,000        101,283  

Ono Pharmaceutical Co., Ltd.

     6,300        145,077  

Osaka Gas Co., Ltd.

     2,100        39,605  

Otsuka Corp.

     3,700        158,344  

Otsuka Holdings Co., Ltd.

     2,900        113,658  

Pan Pacific International Holdings Corp.

     4,700        89,207  

Panasonic Corp.

     4,800        36,682  

Sankyo Co., Ltd.

     4,500        131,096  

Secom Co., Ltd.

     1,300        108,065  

Sega Sammy Holdings, Inc.

     3,600        43,852  

Seibu Holdings, Inc.

     9,000        99,041  

Sekisui House Ltd.

     11,100        183,483  

Seven & I Holdings Co., Ltd.

     3,200        106,000  

SG Holdings Co., Ltd.

     3,800        90,569  

Shimizu Corp.

     8,100        63,401  

Shionogi & Co., Ltd.

     3,100        152,681  

Softbank Corp.

     9,700        123,502  

Sohgo Security Services Co., Ltd.

     2,800        136,427  

Sony Financial Holdings, Inc.

     13,200        223,393  

Sumitomo Corp.

     8,200        94,111  

Sumitomo Realty & Development Co., Ltd.

     6,100        148,891  

Sundrug Co., Ltd.

     1,200        38,461  

Suntory Beverage & Food Ltd.

     3,000        113,520  

Teijin Ltd.

     10,800        183,076  

Tobu Railway Co., Ltd.

     5,000        174,610  

Tohoku Electric Power Co., Inc.

     4,200      40,500  

Tokio Marine Holdings, Inc.

     6,200        284,285  

Tokyo Electric Power Co. Holdings, Inc.*

     9,600        33,525  

Tokyo Gas Co., Ltd.

     4,200        99,441  

Toyo Suisan Kaisha Ltd.

     3,300        159,567  

Trend Micro, Inc.

     4,400        217,646  

Tsuruha Holdings, Inc.

     300        39,628  

West Japan Railway Co.

     2,100        143,871  

Yamada Denki Co., Ltd.

     37,200        148,518  

Yamazaki Baking Co., Ltd.

     2,200        45,995  
     

 

 

 
Total Japan

 

     9,414,806  
Netherlands – 2.0%

 

Koninklijke Ahold Delhaize N.V.

     14,738        344,206  

Koninklijke KPN N.V.

     133,274        318,207  
     

 

 

 
Total Netherlands

 

     662,413  
New Zealand – 1.1%

 

Fisher & Paykel Healthcare Corp., Ltd.

     9,694        174,596  

Fletcher Building Ltd.

     12,070        25,045  

Mercury NZ Ltd.

     13,554        33,910  

Spark New Zealand Ltd.

     60,055        145,441  
     

 

 

 
Total New Zealand

 

     378,992  
Norway – 0.8%

 

Gjensidige Forsikring ASA

     5,282        89,559  

Orkla ASA

     11,853        100,481  

Telenor ASA

     5,747        83,132  
     

 

 

 
Total Norway

 

     273,172  
Singapore – 3.6%

 

ComfortDelGro Corp., Ltd.

     101,700        108,568  

DBS Group Holdings Ltd.

     7,800        101,728  

Genting Singapore Ltd.

     235,100        113,930  

Oversea-Chinese Banking Corp., Ltd.

     17,800        108,011  

Singapore Airlines Ltd.

     34,100        137,468  

Singapore Exchange Ltd.

     56,200        362,733  

Singapore Technologies Engineering Ltd.

     38,400        84,144  

Wilmar International Ltd.

     84,000        190,554  
     

 

 

 
Total Singapore

 

     1,207,136  
Spain – 1.9%

 

Iberdrola S.A.

     26,427        260,509  

Naturgy Energy Group S.A.

     9,624        170,173  

Red Electrica Corp. S.A.

     11,963        214,814  
     

 

 

 
Total Spain

 

     645,496  
Sweden – 1.6%

 

Essity AB Class B

     5,418        167,335  

Hennes & Mauritz AB Class B

     4,898        63,278  

ICA Gruppen AB

     2,725        114,939  

Skanska AB Class B

     7,562        115,593  

Volvo AB Class B

     7,283        87,843  
     

 

 

 
Total Sweden

 

     548,988  
Switzerland – 6.7%

 

Adecco Group AG Registered Shares

     5,987        236,002  

Barry Callebaut AG Registered Shares

     144        288,729  

 

See Notes to Financial Statements.

 

WisdomTree Trust      55  


Table of Contents

Schedule of Investments (concluded)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2020

 

 

 

Investments    Shares      Value  

Nestle S.A. Registered Shares

     3,425      $ 352,040  

Novartis AG Registered Shares

     4,552        375,668  

Roche Holding AG Genusschein

     1,328        431,046  

SGS S.A. Registered Shares

     123        285,015  

Sonova Holding AG Registered Shares

     1,574        283,712  
     

 

 

 
Total Switzerland

 

     2,252,212  
United Kingdom – 14.8%

 

Aviva PLC

     109,383        364,165  

BAE Systems PLC

     52,512        339,756  

Barratt Developments PLC

     19,622        107,297  

British American Tobacco PLC

     7,716        263,966  

Bunzl PLC

     14,744        297,902  

Centrica PLC

     257,241        121,462  

Coca-Cola European Partners PLC

     8,633        323,997  

Diageo PLC

     10,654        341,688  

Ferguson PLC

     4,041        253,338  

GlaxoSmithKline PLC

     23,817        447,290  

GVC Holdings PLC

     29,831        207,508  

Pearson PLC

     42,223      289,311  

RELX PLC

     15,908        341,639  

Rentokil Initial PLC

     59,370        285,482  

SSE PLC

     14,935        241,668  

Unilever N.V.

     6,986        343,448  

Unilever PLC

     7,136        360,612  
     

 

 

 
Total United Kingdom

 

     4,930,529  
TOTAL INVESTMENTS IN SECURITIES – 96.2%
(Cost: $34,543,683)

 

     32,150,088  

Other Assets less Liabilities – 3.8%

 

     1,257,634  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 33,407,722  
 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $19,737, which represents 0.06% of net assets.

 

* 

Non-income producing security.

 

(a) 

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

 

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

Bank of America N.A.

    4/8/2020       491,333       USD       676,998       SGD     $ 15,826     $  

Citibank N.A.

    4/8/2020       1,212,625       AUD       746,157       USD             (3,949

Citibank N.A.

    4/8/2020       395,691       CHF       415,408       USD             (6,345

Citibank N.A.

    4/8/2020       1,086,961       DKK       161,236       USD             (1,388

Citibank N.A.

    4/8/2020       1,944,677       EUR       2,155,863       USD             (21,715

Citibank N.A.

    4/8/2020       97,114,995       JPY       908,267       USD             (8,517

Citibank N.A.

    4/8/2020       1,405,536       USD       1,309,288       CHF       52,001        

Citibank N.A.

    4/8/2020       173,991       USD       1,706,165       SEK       1,762        

Goldman Sachs

    4/8/2020       736,686       USD       4,842,937       DKK       24,488        

Goldman Sachs

    4/8/2020       5,771,046       USD       5,079,726       EUR       196,400        

Goldman Sachs

    4/8/2020       1,833,473       USD       1,407,147       GBP       88,548        

Goldman Sachs

    4/8/2020       7,359,952       USD       772,971,598       JPY       198,533        

Goldman Sachs

    4/8/2020       188,363       USD       1,757,769       SEK       10,925        

HSBC Holdings PLC

    4/8/2020       2,783,587       USD       4,194,480       AUD       216,283        

HSBC Holdings PLC

    4/8/2020       282,545       USD       444,362       NZD       19,120        

Morgan Stanley & Co. International

    4/8/2020       565,112       USD       1,969,316       ILS       8,342        

UBS AG

    4/1/2020       1,845,903       HKD       238,077       USD       76        

UBS AG

    4/1/2020       387,960       ILS       108,796       USD       876        

UBS AG

    4/8/2020       480,531       USD       780,723       AUD       2,676        

UBS AG

    4/8/2020       233,523       USD       224,085       CHF       1,865        

UBS AG

    4/8/2020       135,721       USD       918,817       DKK       601        

UBS AG

    4/8/2020       852,647       USD       772,901       EUR       4,442        

UBS AG

    4/8/2020       411,769       USD       331,723       GBP       418        

UBS AG

    4/8/2020       111,463       USD       397,953       ILS             (1,047

UBS AG

    4/8/2020       1,521,640       USD       164,410,463       JPY             (1,588

UBS AG

    4/8/2020       60,386       USD       100,717       NZD       680        

UBS AG

    4/8/2020       85,462       USD       858,479       SEK             (1,197

UBS AG

    4/8/2020       127,123       USD       181,025       SGD             (25
                                            $ 843,862     $ (45,771

 

See Notes to Financial Statements.

 

56   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.6%

 

Australia – 3.4%

 

Altium Ltd.(a)

     1,372      $ 24,008  

ARB Corp., Ltd.(a)

     1,525        13,338  

Aristocrat Leisure Ltd.

     11,757        153,632  

Beach Energy Ltd.

     28,164        19,823  

BlueScope Steel Ltd.

     7,649        40,402  

carsales.com Ltd.

     11,773        84,667  

Cochlear Ltd.

     979        112,320  

Computershare Ltd.

     15,042        89,395  

Corporate Travel Management Ltd.(a)

     1,822        9,724  

CSL Ltd.

     6,043        1,097,306  

Domino’s Pizza Enterprises Ltd.(a)

     2,776        86,822  

IDP Education Ltd.

     3,039        21,502  

Invocare Ltd.(a)

     2,859        18,391  

Magellan Financial Group Ltd.

     6,650        177,132  

NIB Holdings Ltd.

     15,387        48,312  

Northern Star Resources Ltd.

     7,557        48,704  

Pendal Group Ltd.

     24,781        67,494  

Reece Ltd.

     12,222        68,072  

Regis Resources Ltd.

     17,977        40,050  

St Barbara Ltd.

     25,709        33,516  

Technology One Ltd.

     5,880        28,791  

Viva Energy Group Ltd.(b)

     47,336        36,794  

Webjet Ltd.(a)

     2,193        4,926  
     

 

 

 
Total Australia

 

     2,325,121  
Austria – 0.1%

 

S IMMO AG

     2,059        39,763  
Belgium – 0.3%

 

bpost S.A.

     28,591        201,719  
China – 2.7%

 

Beijing Tong Ren Tang Chinese Medicine Co., Ltd.

     18,358        27,001  

China Overseas Land & Investment Ltd.

     379,501        1,177,541  

CSPC Pharmaceutical Group Ltd.

     110,000        220,258  

Guangdong Investment Ltd.

     232,000        447,184  
     

 

 

 
Total China

 

     1,871,984  
Denmark – 7.9%

 

Chr Hansen Holding A/S

     1,313        98,232  

Coloplast A/S Class B

     4,765        691,264  

DSV Panalpina A/S

     777        70,630  

GN Store Nord A/S

     683        30,510  

Novo Nordisk A/S Class B

     51,787        3,115,612  

Novozymes A/S Class B

     4,571        207,889  

Orsted A/S(b)

     8,150        798,606  

Rockwool International A/S Class B

     185        33,459  

Royal Unibrew A/S

     1,458        105,114  

SimCorp A/S

     508        42,652  

Vestas Wind Systems A/S

     3,047        247,584  
     

 

 

 
Total Denmark

 

     5,441,552  
Finland – 3.1%

 

Kone Oyj Class B

     16,696        945,663  

Metsa Board Oyj*(a)

     23,845        129,982  

Neste Oyj

     18,663      631,746  

Nokian Renkaat Oyj(a)

     9,485        229,692  

Wartsila Oyj Abp(a)

     24,513        179,940  
     

 

 

 
Total Finland

 

     2,117,023  
France – 5.4%

 

Alten S.A.

     397        28,511  

Cie Plastic Omnium S.A.

     5,948        83,636  

Gaztransport Et Technigaz S.A.

     1,513        111,229  

Hermes International

     879        606,467  

Ipsen S.A.

     800        41,415  

Kering S.A.

     3,078        1,607,274  

Rubis SCA

     3,186        133,052  

Safran S.A.

     6,845        601,906  

Sartorius Stedim Biotech

     543        109,033  

Teleperformance

     682        142,032  

Trigano S.A.

     608        38,760  

Valeo S.A.

     13,959        233,577  
     

 

 

 
Total France

 

     3,736,892  
Germany – 7.7%

 

adidas AG

     2,908        656,987  

Bechtle AG

     528        67,726  

CANCOM SE

     432        18,505  

CTS Eventim AG & Co. KGaA

     2,229        100,717  

Dermapharm Holding SE

     1,389        57,763  

Deutsche Wohnen SE Bearer Shares

     8,610        327,917  

Fuchs Petrolub SE

     2,447        78,401  

Hochtief AG

     3,663        243,163  

Hugo Boss AG

     3,949        100,137  

Infineon Technologies AG

     23,887        352,000  

MTU Aero Engines AG

     818        119,688  

Nemetschek SE

     807        40,095  

SAP SE

     18,298        2,063,966  

Siemens Healthineers AG(b)

     21,582        853,576  

Siltronic AG

     2,938        220,051  

Wirecard AG

     132        15,157  
     

 

 

 
Total Germany

 

     5,315,849  
Hong Kong – 1.1%

 

Galaxy Entertainment Group Ltd.

     94,699        505,206  

Melco International Development Ltd.

     12,000        17,402  

Techtronic Industries Co., Ltd.

     33,000        214,156  

Vitasoy International Holdings Ltd.

     12,000        36,383  
     

 

 

 
Total Hong Kong

 

     773,147  
Ireland – 0.2%

 

Hibernia REIT PLC

     20,542        23,937  

Kerry Group PLC Class A

     1,286        148,444  
     

 

 

 
Total Ireland

 

     172,381  
Israel – 0.3%

 

Israel Chemicals Ltd.

     55,835        178,043  
Italy – 1.6%

 

Amplifon SpA

     2,457        50,468  

Brunello Cucinelli SpA

     874        26,545  

 

See Notes to Financial Statements.

 

WisdomTree Trust      57  


Table of Contents

Schedule of Investments (continued)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2020

 

 

 

Investments    Shares      Value  

De’ Longhi SpA

     3,812      $ 63,745  

DiaSorin SpA

     607        80,390  

Ferrari N.V.

     1,664        258,445  

Freni Brembo SpA(a)

     8,424        62,808  

IMA Industria Macchine Automatiche SpA(a)

     1,328        77,666  

Interpump Group SpA

     1,241        29,930  

Moncler SpA

     3,353        122,476  

Recordati SpA

     5,828        246,455  

Reply SpA

     400        24,447  

Salvatore Ferragamo SpA

     3,201        42,499  
     

 

 

 
Total Italy

 

     1,085,874  
Japan – 21.1%

 

Advantest Corp.(a)

     8,000        321,616  

Ain Holdings, Inc.

     400        23,528  

Asahi Intecc Co., Ltd.

     1,400        34,652  

Astellas Pharma, Inc.

     57,900        896,215  

Bandai Namco Holdings, Inc.(a)

     6,800        330,126  

Benefit One, Inc.(a)

     2,800        36,571  

Chugai Pharmaceutical Co., Ltd.

     7,700        891,575  

Daifuku Co., Ltd.(a)

     2,400        152,286  

Daito Trust Construction Co., Ltd.

     3,500        326,317  

Disco Corp.

     900        178,074  

Elecom Co., Ltd.

     1,300        45,338  

en-japan, Inc.

     1,000        18,730  

Fast Retailing Co., Ltd.

     1,000        409,337  

Funai Soken Holdings, Inc.

     1,000        19,888  

GMO Payment Gateway, Inc.

     346        24,294  

Harmonic Drive Systems, Inc.(a)

     1,300        56,899  

Haseko Corp.(a)

     25,100        269,007  

Hikari Tsushin, Inc.

     800        134,352  

Hoya Corp.

     4,700        400,537  

Infocom Corp.

     700        15,997  

Japan Lifeline Co., Ltd.(a)

     1,900        23,971  

Japan Material Co., Ltd.

     1,300        17,088  

JINS Holdings, Inc.

     400        21,972  

Kakaku.com, Inc.

     3,900        71,710  

Kaken Pharmaceutical Co., Ltd.

     1,700        79,209  

Kao Corp.

     7,900        646,167  

Keyence Corp.

     900        290,371  

Kobe Bussan Co., Ltd.(a)

     1,400        55,245  

Konami Holdings Corp.

     3,700        113,617  

Kose Corp.

     800        98,782  

Kotobuki Spirits Co., Ltd.

     300        13,520  

Lasertec Corp.

     1,200        56,246  

M3, Inc.(a)

     2,700        79,908  

Mani, Inc.

     900        22,084  

Maruwa Unyu Kikan Co., Ltd.

     600        13,589  

McDonald’s Holdings Co., Japan Ltd.

     1,100        49,623  

Meitec Corp.

     1,600        63,730  

Miroku Jyoho Service Co., Ltd.

     800        17,644  

Mixi, Inc.

     4,500        65,402  

MonotaRO Co., Ltd.

     1,700        45,163  

Murata Manufacturing Co., Ltd.

     15,400        780,592  

Nidec Corp.

     5,200      270,079  

Nihon M&A Center, Inc.

     1,700        46,533  

Nintendo Co., Ltd.

     3,240        1,248,820  

Nippon Shinyaku Co., Ltd.

     700        54,986  

Nissan Chemical Corp.

     2,800        102,191  

Obic Co., Ltd.

     1,200        157,399  

Open House Co., Ltd.

     2,700        55,648  

Oracle Corp.

     2,800        244,843  

Outsourcing, Inc.

     2,673        11,637  

Pigeon Corp.

     2,700        103,668  

Pilot Corp.

     1,000        33,301  

Recruit Holdings Co., Ltd.(a)

     15,100        391,085  

Relo Group, Inc.

     1,800        37,799  

Round One Corp.

     1,700        8,850  

SCSK Corp.

     2,800        124,885  

Seria Co., Ltd.

     2,000        57,895  

Shimano, Inc.

     1,000        143,023  

Shin-Etsu Chemical Co., Ltd.

     10,300        1,023,751  

Shionogi & Co., Ltd.

     5,600        275,811  

Showa Denko K.K.

     7,100        147,123  

Sysmex Corp.

     2,400        174,428  

Systena Corp.

     1,400        19,012  

TechnoPro Holdings, Inc.

     1,000        46,964  

Toei Animation Co., Ltd.(a)

     900        42,101  

Tokai Carbon Co., Ltd.

     5,400        44,619  

Tokuyama Corp.(a)

     1,900        36,819  

Tokyo Electron Ltd.

     9,600        1,810,088  

Tosho Co., Ltd.

     400        3,679  

Trend Micro, Inc.

     4,900        242,379  

Ulvac, Inc.

     2,400        57,580  

United Arrows Ltd.

     1,200        18,063  

USS Co., Ltd.

     7,800        107,367  

Workman Co., Ltd.

     600        33,014  

ZOZO, Inc.(a)

     4,100        55,107  
     

 

 

 
Total Japan

 

     14,441,519  
Kazakhstan – 0.0%

 

KAZ Minerals PLC

     6,328        27,557  
Netherlands – 4.0%

 

ASM International N.V.

     1,189        119,165  

ASML Holding N.V.

     5,923        1,575,686  

Corbion N.V.

     1,363        40,470  

Euronext N.V.(b)

     1,896        141,050  

Koninklijke DSM N.V.

     4,372        496,508  

TKH Group N.V. CVA

     1,243        34,615  

Wolters Kluwer N.V.

     4,844        341,122  
     

 

 

 
Total Netherlands

 

     2,748,616  
New Zealand – 0.5%

 

Fisher & Paykel Healthcare Corp., Ltd.

     11,683        210,420  

Mainfreight Ltd.

     1,930        39,532  

Ryman Healthcare Ltd.

     10,458        63,860  
     

 

 

 
Total New Zealand

 

     313,812  

 

See Notes to Financial Statements.

 

58   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2020

 

 

 

Investments    Shares      Value  
Norway – 2.3%

 

Borregaard ASA

     2,715      $ 25,027  

Grieg Seafood ASA

     4,201        38,685  

Mowi ASA

     28,964        437,591  

Telenor ASA

     73,756        1,066,902  
     

 

 

 
Total Norway

 

     1,568,205  
Portugal – 0.5%

 

Altri, SGPS, S.A.

     2,473        9,828  

Jeronimo Martins, SGPS, S.A.

     17,167        309,672  
     

 

 

 
Total Portugal

 

     319,500  
Singapore – 0.7%

 

First Resources Ltd.

     31,300        26,599  

SATS Ltd.

     44,800        99,426  

Sheng Siong Group Ltd.

     55,200        46,134  

Singapore Technologies Engineering Ltd.

     127,800        280,041  
     

 

 

 
Total Singapore

 

     452,200  
Spain – 5.1%

 

Cie Automotive S.A.

     3,458        53,348  

Ence Energia y Celulosa S.A.(a)

     19,614        53,804  

Faes Farma S.A.

     10,445        40,628  

Grifols S.A.(a)

     8,120        276,200  

Industria de Diseno Textil S.A.

     114,913        2,983,250  

Prosegur Cash S.A.(b)

     64,375        61,877  
     

 

 

 
Total Spain

 

     3,469,107  
Sweden – 2.8%

 

AAK AB

     3,247        53,059  

AddTech AB Class B

     1,176        29,021  

Alfa Laval AB

     12,003        208,678  

Atlas Copco AB Class B

     11,116        328,733  

Beijer Ref AB

     1,927        34,776  

Bonava AB Class B(a)

     4,532        19,632  

Epiroc AB Class A

     10,792        107,248  

Epiroc AB Class B

     4,778        47,463  

Evolution Gaming Group AB(b)

     2,859        97,534  

Fagerhult AB

     6,384        25,194  

Hexpol AB

     11,568        69,587  

Indutrade AB

     2,229        60,744  

Lifco AB Class B

     975        35,919  

Loomis AB Class B

     2,321        47,321  

Mycronic AB

     2,835        34,652  

Nolato AB Class B

     731        33,157  

Paradox Interactive AB(a)

     1,377        22,070  

Sandvik AB

     37,201        530,359  

Sectra AB Class B*(a)

     384        14,573  

Sweco AB Class B

     2,720        77,858  

Thule Group AB(b)

     3,149        54,922  

Vitrolife AB

     621        8,982  
     

 

 

 
Total Sweden

 

     1,941,482  
Switzerland – 7.7%

 

Givaudan S.A. Registered Shares

     225        696,476  

Kuehne + Nagel International AG Registered Shares

     6,044        829,875  

Logitech International S.A. Registered Shares

     3,511        151,827  

Partners Group Holding AG

     927      641,537  

Roche Holding AG Bearer Shares

     4,732        1,517,096  

Schindler Holding AG Participation Certificate

     824        180,887  

Schindler Holding AG Registered Shares

     1,468        310,123  

SFS Group AG

     1,050        78,136  

SGS S.A. Registered Shares

     260        602,470  

Sonova Holding AG Registered Shares

     831        149,787  

Straumann Holding AG Registered Shares

     115        85,743  

Temenos AG Registered Shares*

     344        45,118  
     

 

 

 
Total Switzerland

 

     5,289,075  
United Kingdom – 21.1%

 

Abcam PLC

     1,114        15,788  

Ashmore Group PLC

     19,548        86,483  

Ashtead Group PLC

     7,309        160,004  

Barratt Developments PLC

     64,597        353,228  

Brewin Dolphin Holdings PLC

     15,783        42,859  

British American Tobacco PLC

     80,264        2,745,850  

Compass Group PLC

     25,289        396,354  

Cranswick PLC

     786        36,041  

Croda International PLC

     1,809        95,824  

Diageo PLC

     41,887        1,343,371  

Diploma PLC

     1,839        36,804  

Diversified Gas & Oil PLC

     33,714        36,787  

Domino’s Pizza Group PLC

     14,759        51,973  

Electrocomponents PLC

     7,567        48,433  

Euromoney Institutional Investor PLC

     4,219        42,374  

Evraz PLC

     122,900        352,935  

FDM Group Holdings PLC(a)

     2,709        24,823  

Ferrexpo PLC

     14,452        21,154  

Fresnillo PLC

     14,894        123,143  

Games Workshop Group PLC

     672        36,080  

Greggs PLC

     1,311        26,237  

Halma PLC

     2,478        59,025  

Hargreaves Lansdown PLC

     7,982        137,176  

Hays PLC

     71,674        102,381  

Hill & Smith Holdings PLC

     1,731        20,530  

HomeServe PLC

     4,461        58,522  

Howden Joinery Group PLC

     11,271        71,554  

Intertek Group PLC

     2,394        140,288  

JD Sports Fashion PLC

     2,495        14,160  

John Laing Group PLC(b)

     10,558        44,458  

Marshalls PLC

     4,847        35,189  

Moneysupermarket.com Group PLC

     12,736        47,992  

Next PLC

     3,161        159,601  

NMC Health PLC(a)

     1,782        2  

Pagegroup PLC

     12,880        58,165  

RELX PLC

     30,798        661,416  

Renishaw PLC

     873        34,250  

Rightmove PLC

     11,731        70,896  

Rio Tinto PLC

     48,649        2,243,086  

Rotork PLC

     12,684        33,830  

Safestore Holdings PLC

     3,515        27,916  

Softcat PLC

     4,865        62,556  

 

See Notes to Financial Statements.

 

WisdomTree Trust      59  


Table of Contents

Schedule of Investments (concluded)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2020

 

 

 

Investments    Shares      Value  

Spirax-Sarco Engineering PLC

     738      $ 74,717  

SSP Group PLC

     7,419        28,287  

Unilever N.V.

     55,828        2,744,633  

Unilever PLC

     27,111        1,370,032  

Unite Group PLC (The)

     6,110        60,722  

WH Smith PLC

     2,286        32,342  
     

 

 

 
Total United Kingdom

 

     14,470,271  
TOTAL COMMON STOCKS
(Cost: $78,321,148)

 

     68,300,692  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.3%

 

United States – 3.3%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(c)

     
(Cost: $2,238,011)      2,238,011        2,238,011  
TOTAL INVESTMENTS IN SECURITIES – 102.9%
(Cost: $80,559,159)

 

     70,538,703  

Other Assets less Liabilities – (2.9)%

 

     (1,987,388
     

 

 

 
NET ASSETS – 100.0%

 

   $ 68,551,315  
 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $4,928, which represents 0.01% of net assets.

 

* 

Non-income producing security.

 

(a)

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $2,830,288. The Fund also had securities on loan having a total market value of $16,391 that were sold and pending settlement. The total market value of the collateral held by the Fund was $3,015,210. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $777,199.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

See Notes to Financial Statements.

 

60   WisdomTree Trust


Table of Contents

Schedule of Investments

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.8%      
Australia – 8.6%      

Accent Group Ltd.

     1,447,962      $ 695,687  

ALS Ltd.

     610,043        2,075,976  

Altium Ltd.

     45,590        797,757  

Ansell Ltd.

     142,497        2,371,384  

AP Eagers Ltd.(a)

     307,153        569,619  

ARB Corp., Ltd.(a)

     61,192        535,197  

ARQ Group Ltd.(a)

     668,182        32,308  

AUB Group Ltd.

     109,710        652,007  

Australian Pharmaceutical Industries Ltd.

     1,166,759        892,644  

Bank of Queensland Ltd.(a)

     1,108,581        3,392,536  

Bapcor Ltd.

     441,566        1,105,366  

Blackmores Ltd.(a)

     22,304        995,853  

Breville Group Ltd.

     112,302        1,160,238  

Brickworks Ltd.

     201,172        1,626,512  

Capitol Health Ltd.

     3,880,336        415,618  

carsales.com Ltd.

     297,263        2,137,793  

Cedar Woods Properties Ltd.

     166,056        422,800  

Corporate Travel Management Ltd.(a)

     93,581        499,449  

Costa Group Holdings Ltd.(a)

     543,628        915,001  

Credit Corp Group Ltd.

     84,481        707,864  

CSR Ltd.

     1,204,784        2,337,521  

Data#3 Ltd.

     434,945        915,756  

Dicker Data Ltd.

     182,102        644,213  

Domino’s Pizza Enterprises Ltd.(a)

     102,743        3,213,366  

Elders Ltd.

     110,245        507,416  

Estia Health Ltd.

     671,625        550,831  

Event Hospitality and Entertainment Ltd.

     287,157        1,318,159  

FlexiGroup Ltd.

     699,001        320,868  

G8 Education Ltd.(a)

     779,832        398,542  

Genworth Mortgage Insurance Australia Ltd.(a)

     1,039,002        1,379,949  

GUD Holdings Ltd.

     190,726        1,093,796  

GWA Group Ltd.(a)

     638,613        1,016,244  

Healius Ltd.

     696,700        882,680  

HT&E Ltd.(a)

     404,196        282,023  

Infomedia Ltd.

     438,631        382,561  

Inghams Group Ltd.(a)

     736,795        1,483,644  

Integral Diagnostics Ltd.

     424,808        642,209  

Integrated Research Ltd.

     280,531        446,418  

Invocare Ltd.(a)

     142,167        914,510  

IOOF Holdings Ltd.(a)

     1,249,936        2,799,986  

IPH Ltd.

     278,153        1,227,456  

IRESS Ltd.

     216,172        1,378,651  

Japara Healthcare Ltd.(a)

     1,023,993        313,368  

JB Hi-Fi Ltd.(a)

     232,074        3,977,146  

Jupiter Mines Ltd.

     9,708,323        1,307,236  

Link Administration Holdings Ltd.

     709,831        1,403,281  

Lovisa Holdings Ltd.(a)

     131,988        399,069  

McMillan Shakespeare Ltd.

     176,140        766,504  

Metcash Ltd.(a)

     1,448,181        2,792,032  

Mineral Resources Ltd.(a)

     251,416        2,149,693  

Monadelphous Group Ltd.

     145,254        913,920  

Monash IVF Group Ltd.

     716,704        199,590  

MyState Ltd.

     234,809      538,931  

Navigator Global Investments Ltd.

     424,856        598,076  

Netwealth Group Ltd.

     116,808        482,573  

New Hope Corp., Ltd.(a)

     1,765,699        1,502,168  

NIB Holdings Ltd.

     519,716        1,631,813  

Nick Scali Ltd.(a)

     277,756        574,602  

Nine Entertainment Co. Holdings Ltd.(a)

     2,312,606        1,620,668  

OFX Group Ltd.

     562,925        427,228  

Orora Ltd.

     1,857,981        2,751,970  

OZ Minerals Ltd.

     355,437        1,598,958  

Peet Ltd.

     885,720        477,052  

Pendal Group Ltd.

     807,085        2,198,195  

Perpetual Ltd.(a)

     119,534        1,845,847  

Pinnacle Investment Management Group Ltd.

     176,499        305,714  

Platinum Asset Management Ltd.(a)

     1,422,011        2,898,239  

Premier Investments Ltd.

     281,956        2,138,157  

Regis Healthcare Ltd.(a)

     793,622        735,891  

Regis Resources Ltd.

     640,506        1,426,959  

Reliance Worldwide Corp., Ltd.

     678,547        1,079,793  

Sandfire Resources Ltd.

     328,317        663,123  

SG Fleet Group Ltd.

     634,522        469,915  

Sigma Healthcare Ltd.

     3,039,447        1,190,588  

Sims Ltd.

     380,115        1,421,488  

SmartGroup Corp., Ltd.

     255,359        764,270  

Southern Cross Media Group Ltd.

     2,281,111        230,366  

Spark Infrastructure Group

     3,894,291        4,647,828  

St Barbara Ltd.

     839,851        1,094,886  

Steadfast Group Ltd.

     782,329        1,192,273  

Super Retail Group Ltd.(a)

     474,301        1,344,071  

Tassal Group Ltd.

     176,287        377,638  

Technology One Ltd.

     190,182        931,207  
     

 

 

 
Total Australia               99,520,734  
Austria – 1.6%      

EVN AG

     175,301        2,565,937  

Oesterreichische Post AG(a)

     156,043        5,581,715  

Palfinger AG

     34,847        635,480  

Porr AG(a)

     71,897        1,188,069  

S IMMO AG

     70,464        1,360,773  

UNIQA Insurance Group AG

     680,813        5,273,978  

Wienerberger AG

     101,163        1,597,306  
     

 

 

 
Total Austria               18,203,258  
Belgium – 1.4%      

Bekaert S.A.

     72,271        1,212,488  

bpost S.A.

     886,197        6,252,403  

D’ieteren S.A./N.V.

     62,174        3,080,153  

Econocom Group S.A./N.V.(a)

     364,964        580,262  

Euronav N.V.

     138,580        1,584,434  

Greenyard N.V.*(a)

     113,808        485,767  

Ontex Group N.V.

     87,502        1,526,584  

Orange Belgium S.A.

     71,559        1,259,431  
     

 

 

 
Total Belgium               15,981,522  

 

See Notes to Financial Statements.

 

WisdomTree Trust      61  


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  
China – 2.2%

 

Beijing Tong Ren Tang Chinese Medicine Co., Ltd.

     597,000      $ 878,066  

China Overseas Grand Oceans Group Ltd.

     5,524,900        3,236,146  

China Power International Development Ltd.

     22,987,800        4,270,786  

China South City Holdings Ltd.

     14,640,200        1,416,629  

China Traditional Chinese Medicine Holdings Co., Ltd.

     5,885,900        2,680,621  

CITIC Telecom International Holdings Ltd.

     8,419,822        2,791,798  

CPMC Holdings Ltd.

     1,904,009        614,125  

Genertec Universal Medical Group Co., Ltd.(a)(b)

     2,982,200        1,858,368  

Hua Hong Semiconductor Ltd.(a)(b)

     948,600        1,737,878  

Poly Property Group Co., Ltd.

     6,691,600        2,270,563  

Shougang Fushan Resources Group Ltd.

     14,946,000        2,718,892  

Xiwang Special Steel Co., Ltd.

     9,358,500        543,334  
     

 

 

 
Total China

 

     25,017,206  
Denmark – 1.1%

 

Alm Brand A/S

     301,764        2,195,519  

Matas A/S

     148,836        933,398  

Ringkjoebing Landbobank A/S

     30,744        1,726,886  

Scandinavian Tobacco Group A/S Class A(b)

     254,008        2,556,589  

Schouw & Co. A/S

     23,970        1,588,883  

Spar Nord Bank A/S

     284,495        1,746,510  

Sydbank A/S

     176,095        2,488,344  
     

 

 

 
Total Denmark

 

     13,236,129  
Finland – 2.8%

 

Aktia Bank Oyj

     187,571        1,483,907  

Cargotec Oyj Class B

     79,078        1,468,988  

Citycon Oyj(a)

     429,305        2,649,685  

Fiskars Oyj Abp(a)

     90,341        951,616  

Kemira Oyj

     242,401        2,348,556  

Konecranes Oyj

     114,322        1,957,489  

Lassila & Tikanoja Oyj(a)

     92,531        1,167,591  

Metsa Board Oyj*(a)

     753,078        4,105,133  

Oriola Oyj Class B

     162,581        292,920  

Outokumpu Oyj(a)

     809,337        2,015,863  

Raisio Oyj Class V

     268,791        872,996  

Revenio Group Oyj

     9,112        227,458  

Sanoma Oyj

     290,407        2,662,314  

Terveystalo Oyj*(b)

     110,623        986,829  

TietoEVRY Oyj(a)

     199,554        4,331,043  

Tokmanni Group Corp.

     170,242        1,699,863  

Uponor Oyj

     166,416        1,515,580  

YIT Oyj(a)

     445,218        1,974,580  
     

 

 

 
Total Finland

 

     32,712,411  
France – 2.8%

 

Albioma S.A.

     23,791        706,132  

Beneteau S.A.(a)

     83,006        554,212  

Coface S.A.

     480,507        3,084,333  

Derichebourg S.A.

     282,653        767,909  

Elior Group S.A.(a)(b)

     212,914        1,404,056  

Europcar Mobility Group(a)(b)

     163,136        261,163  

Haulotte Group S.A.

     39,967      181,335  

Interparfums S.A.

     26,668        895,401  

IPSOS

     66,365        1,383,561  

Jacquet Metal Service S.A.

     48,578        454,668  

Kaufman & Broad S.A.

     56,932        1,762,866  

Maisons du Monde S.A.(b)

     70,655        566,329  

Manitou BF S.A.(a)

     56,800        857,576  

Metropole Television S.A.

     263,429        2,954,066  

Nexans S.A.

     23,988        711,189  

Nexity S.A.

     126,194        3,879,829  

Quadient

     49,597        870,725  

Rallye S.A.(a)

     116,065        821,423  

Rothschild & Co.

     88,388        1,794,200  

Sopra Steria Group

     16,482        1,807,584  

SPIE S.A.

     215,280        2,162,558  

Television Francaise 1

     316,374        1,729,459  

Trigano S.A.

     19,785        1,261,299  

Vicat S.A.

     54,259        1,375,275  
     

 

 

 
Total France

 

     32,247,148  
Germany – 4.8%

 

Aareal Bank AG

     176,547        2,943,519  

alstria office REIT-AG

     227,956        3,261,627  

AURELIUS Equity Opportunities SE & Co. KGaA

     45,593        842,454  

Aurubis AG

     65,226        2,705,318  

BayWa AG

     62,046        1,729,232  

Bilfinger SE

     63,899        1,076,939  

Borussia Dortmund GmbH & Co. KGaA

     15,705        93,744  

CropEnergies AG

     160,494        1,403,534  

Dermapharm Holding SE

     54,588        2,270,085  

Deutsche Pfandbriefbank AG(b)

     436,231        3,345,796  

Deutz AG

     105,729        389,798  

DIC Asset AG

     134,278        1,395,277  

Duerr AG

     85,019        1,743,536  

Elmos Semiconductor AG

     16,034        333,217  

Encavis AG

     232,105        2,355,765  

Freenet AG

     421,123        7,423,273  

Gerresheimer AG

     21,925        1,390,507  

Hamburger Hafen und Logistik AG

     74,190        1,034,658  

Indus Holding AG

     47,271        1,226,681  

Jenoptik AG

     21,734        355,330  

Krones AG

     30,536        1,634,405  

MLP SE

     222,799        1,136,768  

PATRIZIA AG

     58,493        1,347,811  

Pfeiffer Vacuum Technology AG

     9,392        1,347,943  

RIB Software SE

     20,807        652,039  

Salzgitter AG

     58,584        694,881  

Siltronic AG

     89,159        6,677,859  

Software AG

     57,194        1,713,243  

Takkt AG

     120,931        939,456  

Wacker Neuson SE

     76,906        847,227  

Wuestenrot & Wuerttembergische AG

     114,617        1,758,174  
     

 

 

 
Total Germany

 

     56,070,096  

 

See Notes to Financial Statements.

 

62   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  
Hong Kong – 0.9%

 

BOCOM International Holdings Co., Ltd.

     4,005,000      $ 552,884  

Dah Sing Banking Group Ltd.

     1,658,400        1,444,245  

Dah Sing Financial Holdings Ltd.

     587,829        1,672,274  

Guotai Junan International Holdings Ltd.(a)

     13,006,000        1,711,559  

Hongkong & Shanghai Hotels Ltd. (The)

     1,294,370        1,032,036  

Kowloon Development Co., Ltd.

     1,280,000        1,398,754  

Lai Sun Development Co., Ltd.

     509,700        551,727  

Television Broadcasts Ltd.

     1,311,600        1,632,964  
     

 

 

 
Total Hong Kong

 

     9,996,443  
Ireland – 0.5%

 

C&C Group PLC

     416,666        1,016,758  

Greencore Group PLC

     602,626        1,232,550  

Hibernia REIT PLC

     803,745        936,588  

Irish Continental Group PLC

     228,574        812,601  

Origin Enterprises PLC

     165,338        362,471  

UDG Healthcare PLC

     166,004        1,299,859  
     

 

 

 
Total Ireland

 

     5,660,827  
Israel – 2.6%

 

Ashtrom Group Ltd.

     220,005        2,425,531  

Delek Automotive Systems Ltd.

     282,697        1,112,423  

Delek Group Ltd.

     29,451        780,182  

Electra Consumer Products 1970 Ltd.

     16,957        299,598  

First International Bank of Israel Ltd.

     165,899        4,068,862  

Fox Wizel Ltd.

     34,192        1,139,588  

Gazit-Globe Ltd.

     426,111        3,276,433  

Gilat Satellite Networks Ltd.

     126,528        938,914  

Harel Insurance Investments & Financial Services Ltd.

     356,888        1,957,237  

Hilan Ltd.

     7,143        225,348  

Inrom Construction Industries Ltd.

     488,464        1,692,906  

Matrix IT Ltd.

     92,943        1,526,520  

Maytronics Ltd.

     76,971        486,532  

Mehadrin Ltd.*

     1        26  

Menora Mivtachim Holdings Ltd.

     28,184        319,171  

Naphtha Israel Petroleum Corp., Ltd.*

     240,742        857,496  

Paz Oil Co., Ltd.

     23,506        1,982,838  

Phoenix Holdings Ltd. (The)

     638,978        3,070,750  

Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.

     18,805        1,044,058  

Shapir Engineering and Industry Ltd.*

     208,418        1,336,840  

Shufersal Ltd.

     230,119        1,307,550  
     

 

 

 
Total Israel

 

     29,848,803  
Italy – 3.5%

 

Anima Holding SpA(b)

     901,199        2,420,683  

Ascopiave SpA

     387,684        1,431,425  

ASTM SpA

     71,235        1,249,039  

Azimut Holding SpA

     385,182        5,570,410  

Banca Farmafactoring SpA(b)

     742,825        3,855,258  

Banca IFIS SpA

     188,927        1,844,972  

Banca Popolare di Sondrio SCPA

     604,370        914,477  

BPER Banca

     749,881        2,303,860  

Brunello Cucinelli SpA

     27,240        827,330  

Cementir Holding N.V.

     181,868      981,610  

Credito Emiliano SpA

     616,983        2,599,622  

Datalogic SpA(a)

     59,236        694,165  

doValue SpA(b)

     124,832        773,892  

El.En. SpA

     15,526        273,086  

Falck Renewables SpA

     155,756        816,576  

Fincantieri SpA(a)

     961,521        590,289  

Immobiliare Grande Distribuzione SIIQ SpA

     328,916        1,353,387  

La Doria SpA

     67,097        644,930  

Maire Tecnimont SpA(a)

     592,116        938,816  

MARR SpA

     72,972        1,029,682  

Piaggio & C. SpA

     521,243        932,252  

RAI Way SpA(b)

     310,706        1,675,633  

Rizzoli Corriere Della Sera Mediagroup SpA

     1,280,543        1,020,085  

Saras SpA

     2,159,254        2,013,856  

Societa Cattolica di Assicurazioni SC

     323,626        1,602,206  

Tod’s SpA(a)

     26,188        876,411  

Unieuro SpA(a)(b)

     71,381        484,818  

Zignago Vetro SpA

     129,348        1,544,167  
     

 

 

 
Total Italy

 

     41,262,937  
Japan – 31.0%

 

Achilles Corp.

     48,600        789,179  

ADEKA Corp.

     106,001        1,326,547  

Aeon Hokkaido Corp.

     95,700        654,223  

Ahresty Corp.

     122,000        400,056  

Ai Holdings Corp.

     41,000        506,257  

Aica Kogyo Co., Ltd.

     61,600        1,766,032  

Akatsuki, Inc.(a)

     9,500        318,119  

Alconix Corp.

     18,000        179,908  

Amano Corp.

     53,200        1,176,309  

Amuse, Inc.(a)

     27,000        568,737  

AOI TYO Holdings, Inc.

     80,400        321,734  

AOKI Holdings, Inc.

     207,000        1,392,080  

Aoyama Trading Co., Ltd.(a)

     107,201        921,518  

Arakawa Chemical Industries Ltd.

     62,900        700,928  

Ariake Japan Co., Ltd.

     12,800        808,633  

Artnature, Inc.

     165,100        983,366  

Asahi Holdings, Inc.

     52,000        1,090,047  

Asahi Yukizai Corp.

     46,200        596,999  

Asia Pile Holdings Corp.

     115,800        431,213  

Asics Corp.(a)

     106,400        984,610  

Ateam, Inc.

     50,900        283,367  

Autobacs Seven Co., Ltd.

     122,303        1,411,602  

Axial Retailing, Inc.

     17,300        637,803  

Baroque Japan Ltd.(a)

     91,300        530,268  

BayCurrent Consulting, Inc.

     12,000        562,457  

Benesse Holdings, Inc.

     73,800        1,880,634  

Bic Camera, Inc.(a)

     160,400        1,300,079  

BML, Inc.

     25,200        678,349  

Broadleaf Co., Ltd.

     118,800        517,215  

Cawachi Ltd.

     26,100        573,472  

Chubu Shiryo Co., Ltd.

     70,600        944,996  

Chugoku Bank Ltd. (The)

     166,400        1,484,352  

 

See Notes to Financial Statements.

 

WisdomTree Trust      63  


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Citizen Watch Co., Ltd.(a)

     342,707      $ 1,219,022  

Cleanup Corp.

     151,200        749,312  

CMK Corp.

     74,600        307,508  

Cocokara fine, Inc.

     9,300        483,285  

Computer Engineering & Consulting Ltd.

     19,500        247,464  

Comture Corp.(a)

     27,000        550,229  

CONEXIO Corp.

     59,100        741,795  

Cosmo Energy Holdings Co., Ltd.

     79,100        1,114,456  

Credit Saison Co., Ltd.

     193,500        2,251,271  

Dai Nippon Toryo Co., Ltd.

     92,300        679,714  

Daido Metal Co., Ltd.

     106,600        531,247  

Daido Steel Co., Ltd.(a)

     46,491        1,498,668  

Daiho Corp.

     12,700        266,341  

Daiichikosho Co., Ltd.

     42,300        1,128,862  

Daiken Medical Co., Ltd.

     114,500        696,832  

Daikoku Denki Co., Ltd.(a)

     71,300        811,045  

Daishi Hokuetsu Financial Group, Inc.

     53,240        1,165,357  

Daitron Co., Ltd.(a)

     34,900        480,398  

Denka Co., Ltd.

     84,800        1,788,612  

Dexerials Corp.

     89,200        576,737  

DIC Corp.

     104,600        2,318,631  

Digital Arts, Inc.

     5,900        255,227  

Digital Garage, Inc.

     21,400        684,887  

DKS Co., Ltd.(a)

     11,300        392,525  

DMG Mori Co., Ltd.(a)

     129,400        1,081,180  

Dowa Holdings Co., Ltd.

     57,900        1,517,291  

DyDo Group Holdings, Inc.(a)

     22,700        768,547  

Ebara Corp.

     71,300        1,358,567  

Eiken Chemical Co., Ltd.

     34,200        624,410  

Elecom Co., Ltd.

     20,200        704,488  

Elematec Corp.

     71,300        507,894  

EM Systems Co., Ltd.

     60,400        504,662  

Enplas Corp.

     16,600        325,988  

eRex Co., Ltd.

     20,000        228,058  

ESPEC Corp.

     23,700        360,478  

Exedy Corp.

     58,970        873,448  

Feed One Co., Ltd.

     478,300        669,013  

Ferrotec Holdings Corp.

     95,500        489,199  

Financial Products Group Co., Ltd.

     161,700        817,824  

First Juken Co., Ltd.

     86,100        787,984  

FJ Next Co., Ltd.(a)

     63,400        480,396  

France Bed Holdings Co., Ltd.(a)

     106,500        900,695  

FTGroup Co., Ltd.(a)

     42,400        413,180  

Fudo Tetra Corp.

     35,620        423,329  

Fuji Corp., Ltd.

     142,300        677,525  

Fuji Oil Holdings, Inc.

     46,000        1,111,278  

Fuji Pharma Co., Ltd.

     62,100        697,766  

Fuji Soft, Inc.

     16,100        518,248  

Fujibo Holdings, Inc.

     39,600        1,057,907  

Fujicco Co., Ltd.

     48,900        881,926  

Fujimi, Inc.(a)

     36,641        912,334  

Fujitec Co., Ltd.

     115,000        1,481,775  

Fujitsu General Ltd.

     36,500        660,317  

Fukui Computer Holdings, Inc.

     20,600        414,843  

Furukawa Electric Co., Ltd.

     60,500      1,101,223  

Furuno Electric Co., Ltd.

     31,000        242,073  

Furyu Corp.

     91,100        695,349  

Fuso Chemical Co., Ltd.

     18,500        520,101  

Futaba Industrial Co., Ltd.

     107,800        456,344  

Future Corp.

     25,900        335,161  

Fuyo General Lease Co., Ltd.

     35,100        1,781,742  

Gakujo Co., Ltd.

     48,800        585,844  

GLOBERIDE, Inc.(a)

     12,700        220,107  

Glory Ltd.

     67,977        1,567,901  

Grandy House Corp.(a)

     210,100        698,679  

GS Yuasa Corp.

     83,400        1,123,279  

Gunma Bank Ltd. (The)

     510,300        1,550,446  

H-One Co., Ltd.(a)

     71,000        327,525  

H2O Retailing Corp.

     163,700        1,199,451  

Hachijuni Bank Ltd. (The)

     486,400        1,761,682  

Hakuto Co., Ltd.

     65,500        586,712  

Hanwa Co., Ltd.

     70,400        1,096,872  

Harima Chemicals Group, Inc.(a)

     75,700        787,468  

Hazama Ando Corp.

     229,400        1,464,097  

Heiwa Corp.(a)

     89,019        1,666,504  

Heiwado Co., Ltd.

     32,100        566,147  

Hinokiya Group Co., Ltd.(a)

     23,700        321,840  

Hioki EE Corp.

     10,900        310,477  

Hiroshima Bank Ltd. (The)

     387,700        1,619,681  

Hochiki Corp.

     55,300        699,734  

Hogy Medical Co., Ltd.

     27,400        854,069  

Hokkoku Bank Ltd. (The)

     20,600        643,064  

Hokuetsu Industries Co., Ltd.

     11,300        113,361  

Hokuhoku Financial Group, Inc.

     170,300        1,527,029  

Hokuto Corp.

     63,600        1,110,518  

Honeys Holdings Co., Ltd.(a)

     91,000        913,751  

Horiba Ltd.

     31,900        1,589,755  

Ibiden Co., Ltd.

     65,600        1,440,763  

Ichibanya Co., Ltd.

     19,000        787,597  

Ichikoh Industries Ltd.

     63,400        282,483  

Ichinen Holdings Co., Ltd.(a)

     42,400        450,884  

Imasen Electric Industrial

     106,600        642,829  

Inaba Denki Sangyo Co., Ltd.

     72,400        1,543,836  

Inageya Co., Ltd.(a)

     42,500        623,199  

Ines Corp.

     63,600        797,688  

Infocom Corp.

     20,800        475,324  

Infomart Corp.

     46,000        302,960  

Information Services International-Dentsu Ltd.

     22,100        803,506  

Innotech Corp.

     49,500        394,331  

Intage Holdings, Inc.

     87,200        647,811  

IR Japan Holdings Ltd.

     15,000        805,891  

Iriso Electronics Co., Ltd.(a)

     12,200        360,502  

Iseki & Co., Ltd.

     53,900        569,681  

Itfor, Inc.

     69,100        362,286  

Itochu Enex Co., Ltd.

     215,801        1,687,148  

Itoham Yonekyu Holdings, Inc.

     236,800        1,397,264  

Itoki Corp.

     184,000        543,708  

Iwaki Co., Ltd.

     45,900        364,802  

 

See Notes to Financial Statements.

 

64   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Iyo Bank Ltd. (The)

     311,800      $ 1,579,868  

Japan Cash Machine Co., Ltd.(a)

     38,300        191,935  

Japan Lifeline Co., Ltd.(a)

     44,900        566,475  

Japan Steel Works Ltd. (The)

     77,100        934,156  

Japan Transcity Corp.

     184,300        795,552  

JBCC Holdings, Inc.

     38,700        600,459  

Jeol Ltd.

     23,100        564,260  

JM Holdings Co., Ltd.

     25,100        512,672  

JVCKenwood Corp.

     273,000        493,122  

K’s Holdings Corp.

     197,002        1,866,825  

Kaga Electronics Co., Ltd.

     43,800        690,543  

Kagome Co., Ltd.

     67,700        1,759,052  

Kaken Pharmaceutical Co., Ltd.

     44,000        2,050,113  

Kameda Seika Co., Ltd.

     19,900        911,542  

Kanaden Corp.

     11,100        128,731  

Kandenko Co., Ltd.

     230,000        1,834,375  

Kaneka Corp.

     55,600        1,333,926  

Kanematsu Corp.

     154,300        1,585,093  

Kansai Mirai Financial Group, Inc.

     325,800        1,173,972  

Kasai Kogyo Co., Ltd.(a)

     124,200        607,453  

Kato Sangyo Co., Ltd.

     23,000        725,441  

Keihin Corp.

     54,100        1,265,365  

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

     50,400        526,153  

King Jim Co., Ltd.(a)

     139,500        1,076,407  

Koa Corp.(a)

     39,700        328,029  

Koatsu Gas Kogyo Co., Ltd.

     112,100        749,722  

Koei Tecmo Holdings Co., Ltd.

     93,500        2,412,093  

Kokusai Pulp & Paper Co., Ltd.(a)

     308,500        728,706  

Kokuyo Co., Ltd.

     103,200        1,445,402  

Kondotec, Inc.

     105,000        903,571  

Kotobuki Spirits Co., Ltd.

     12,100        545,287  

Kumagai Gumi Co., Ltd.

     53,300        1,234,804  

Kurabo Industries Ltd.

     51,295        1,230,168  

Kusuri no Aoki Holdings Co., Ltd.

     3,900        324,413  

Kyokuyo Co., Ltd.(a)

     35,700        841,615  

KYORIN Holdings, Inc.

     90,290        1,838,335  

Kyosan Electric Manufacturing Co., Ltd.(a)

     143,900        621,161  

Kyowa Exeo Corp.

     94,200        2,099,441  

Kyudenko Corp.(a)

     67,200        1,819,514  

Kyushu Financial Group, Inc.

     433,900        1,659,957  

LAC Co., Ltd.

     23,100        160,697  

Lasertec Corp.

     20,500        960,863  

LEC, Inc.

     42,400        426,141  

Life Corp.

     26,400        729,482  

LIFULL Co., Ltd.(a)

     67,200        189,234  

Link And Motivation, Inc.(a)

     75,900        215,140  

Lintec Corp.

     87,330        1,839,548  

Mabuchi Motor Co., Ltd.

     74,200        2,213,181  

Maeda Corp.(a)

     137,900        1,018,075  

Maeda Road Construction Co., Ltd.(a)

     101,400        1,898,285  

Mani, Inc.

     38,500        944,713  

Marubun Corp.(a)

     88,000        388,014  

Marudai Food Co., Ltd.

     53,100        961,609  

Maruha Nichiro Corp.

     31,600        660,949  

Marusan Securities Co., Ltd.

     264,700      1,110,732  

Maruwa Co., Ltd.

     9,500        579,918  

Marvelous, Inc.

     107,300        530,760  

Matsui Securities Co., Ltd.(a)

     544,140        3,997,064  

Max Co., Ltd.

     68,147        1,051,037  

Maxell Holdings Ltd.(a)

     36,900        363,685  

MCJ Co., Ltd.(a)

     91,200        505,188  

Meiko Electronics Co., Ltd.(a)

     28,000        347,033  

Meiko Network Japan Co., Ltd.

     108,200        763,729  

Meitec Corp.

     33,500        1,334,352  

Meiwa Estate Co., Ltd.

     181,900        807,096  

Menicon Co., Ltd.

     19,500        871,544  

Micronics Japan Co., Ltd.(a)

     52,900        382,705  

Mimasu Semiconductor Industry Co., Ltd.

     59,000        966,801  

Ministop Co., Ltd.(a)

     39,000        525,997  

Miraca Holdings, Inc.(a)

     68,100        1,437,004  

Miroku Jyoho Service Co., Ltd.(a)

     16,400        361,710  

Mitsubishi Logistics Corp.(a)

     53,600        1,083,370  

Mitsubishi Research Institute, Inc.

     19,100        582,085  

Mitsui Mining & Smelting Co., Ltd.(a)

     44,664        747,606  

Mitsui OSK Lines Ltd.

     71,900        1,163,534  

Mixi, Inc.

     99,900        1,451,930  

Mizuho Leasing Co., Ltd.

     65,400        1,276,437  

Morito Co., Ltd.(a)

     123,700        844,490  

Morningstar Japan K.K.

     278,460        897,634  

MOS Food Services, Inc.(a)

     22,100        513,016  

MTI Ltd.

     75,000        379,325  

Musashino Bank Ltd. (The)

     46,945        598,363  

NAC Co., Ltd.(a)

     99,100        723,364  

Nagaileben Co., Ltd.

     41,000        1,007,577  

Nagase & Co., Ltd.

     119,200        1,412,225  

Nakabayashi Co., Ltd.

     187,400        935,655  

Nakanishi, Inc.

     46,800        622,093  

NEC Networks & System Integration Corp.

     39,801        1,622,198  

NHK Spring Co., Ltd.

     189,500        1,242,796  

Nichias Corp.

     95,100        1,782,987  

Nichiban Co., Ltd.

     27,100        375,542  

Nichiha Corp.

     30,401        576,733  

NichiiGakkan Co., Ltd.

     51,700        495,186  

Nifco, Inc.

     72,400        1,301,061  

Nihon Chouzai Co., Ltd.

     22,800        349,535  

Nihon Flush Co., Ltd.

     37,200        327,359  

Nihon House Holdings Co., Ltd.

     183,300        497,493  

Nihon Parkerizing Co., Ltd.

     84,701        878,747  

Nihon Tokushu Toryo Co., Ltd.(a)

     46,400        339,979  

Nikkiso Co., Ltd.

     42,300        315,815  

Nikkon Holdings Co., Ltd.

     70,600        1,384,468  

Nippo Corp.

     84,700        1,867,315  

Nippon Air Conditioning Services Co., Ltd.(a)

     151,400        948,047  

Nippon Chemical Industrial Co., Ltd.(a)

     22,900        470,918  

Nippon Electric Glass Co., Ltd.

     95,800        1,284,965  

Nippon Gas Co., Ltd.

     25,600        847,761  

Nippon Kayaku Co., Ltd.

     137,999        1,271,910  

Nippon Light Metal Holdings Co., Ltd.

     782,500        1,224,978  

 

See Notes to Financial Statements.

 

WisdomTree Trust      65  


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Nippon Paper Industries Co., Ltd.(a)

     57,138      $ 814,556  

Nippon Pillar Packing Co., Ltd.

     90,400        1,053,431  

Nippon Piston Ring Co., Ltd.(a)

     47,100        493,011  

Nippon Shokubai Co., Ltd.(a)

     26,200        1,201,334  

Nippon Signal Co., Ltd.

     58,500        571,697  

Nippon Steel Trading Corp.

     57,373        1,939,803  

Nipro Corp.

     120,191        1,415,060  

Nishi-Nippon Financial Holdings, Inc.

     209,300        1,182,650  

Nishimatsu Construction Co., Ltd.

     92,700        1,778,349  

Nissei Plastic Industrial Co., Ltd.(a)

     108,500        929,670  

Nissha Co., Ltd.

     44,500        295,966  

Nisshin Group Holdings Co., Ltd.(a)

     220,400        806,429  

Nisshinbo Holdings, Inc.

     223,192        1,490,634  

Nissin Electric Co., Ltd.

     92,200        790,859  

Nisso Corp.(a)

     25,500        103,224  

Nitto Boseki Co., Ltd.

     19,200        849,243  

Noevir Holdings Co., Ltd.

     27,900        1,426,594  

Nohmi Bosai Ltd.

     29,400        545,216  

NOK Corp.

     150,800        1,666,476  

North Pacific Bank Ltd.

     612,400        1,157,238  

NS Tool Co., Ltd.(a)

     37,900        854,510  

NTN Corp.

     790,600        1,384,127  

Obara Group, Inc.

     12,300        264,332  

Ohara, Inc.(a)

     22,000        177,704  

Oiles Corp.

     14,800        187,545  

Oki Electric Industry Co., Ltd.

     82,700        776,785  

OKUMA Corp.(a)

     31,700        1,023,338  

Okumura Corp.

     67,000        1,395,174  

Okuwa Co., Ltd.

     46,200        742,932  

Open House Co., Ltd.

     69,200        1,426,242  

Optex Group Co., Ltd.(a)

     35,500        328,841  

Osaka Organic Chemical Industry Ltd.(a)

     93,000        1,293,928  

Osaki Electric Co., Ltd.

     85,100        420,948  

OSG Corp.

     90,400        1,211,697  

Pasona Group, Inc.

     39,300        313,075  

Penta-Ocean Construction Co., Ltd.

     320,800        1,690,845  

Qol Holdings Co., Ltd.

     25,600        314,205  

Quick Co., Ltd.

     46,700        425,666  

Resorttrust, Inc.

     113,800        1,113,175  

Restar Holdings Corp.(a)

     34,500        483,840  

Rheon Automatic Machinery Co., Ltd.

     5,300        58,570  

Riken Keiki Co., Ltd.

     26,800        506,930  

Riken Technos Corp.

     212,500        757,839  

Riso Kagaku Corp.

     46,700        706,416  

Rock Field Co., Ltd.(a)

     71,300        968,895  

Roland DG Corp.

     25,800        278,422  

Ryoden Corp.

     44,100        529,829  

Ryosan Co., Ltd.

     39,086        864,957  

S Foods, Inc.

     24,800        513,666  

Saizeriya Co., Ltd.

     18,001        341,661  

Sakai Chemical Industry Co., Ltd.

     32,400        539,325  

Sakata Seed Corp.

     34,100        1,036,061  

San-A Co., Ltd.

     14,500        605,090  

San-In Godo Bank Ltd. (The)

     215,887        1,093,883  

Sanei Architecture Planning Co., Ltd.(a)

     50,900      560,605  

Sanken Electric Co., Ltd.

     23,700        461,684  

Sanoh Industrial Co., Ltd.(a)

     130,000        823,677  

Sanshin Electronics Co., Ltd.

     34,300        443,226  

Sanwa Holdings Corp.

     213,900        1,672,286  

Satori Electric Co., Ltd.(a)

     49,600        407,533  

Sawai Pharmaceutical Co., Ltd.

     31,100        1,662,239  

SBS Holdings, Inc.

     20,600        333,745  

SCREEN Holdings Co., Ltd.(a)

     31,300        1,159,742  

Seika Corp.

     88,200        885,636  

Seino Holdings Co., Ltd.

     135,600        1,473,381  

Senko Group Holdings Co., Ltd.

     165,100        1,281,588  

Senshu Ikeda Holdings, Inc.

     600,800        907,141  

Seria Co., Ltd.

     38,000        1,099,995  

SFP Holdings Co., Ltd.(a)

     54,200        694,852  

Shibaura Mechatronics Corp.

     15,900        350,977  

Shikoku Electric Power Co., Inc.

     198,900        1,573,439  

Shindengen Electric Manufacturing Co., Ltd.

     23,700        511,299  

Shinmaywa Industries Ltd.

     115,800        1,207,825  

Shoei Foods Corp.

     9,400        344,810  

Showa Sangyo Co., Ltd.(a)

     39,600        1,177,491  

Siix Corp.(a)

     42,300        340,108  

Sinfonia Technology Co., Ltd.

     20,000        177,852  

Sinko Industries Ltd.

     12,500        161,641  

SKY Perfect JSAT Holdings, Inc.

     503,500        1,790,968  

Solasto Corp.(a)

     64,400        598,931  

Sotetsu Holdings, Inc.(a)

     62,000        1,592,571  

Space Co., Ltd.

     92,500        934,811  

Space Value Holdings Co., Ltd.

     101,100        349,315  

Sprix Ltd.(a)

     26,000        154,379  

SRA Holdings

     32,200        637,408  

ST Corp.

     32,000        474,568  

Star Mica Holdings Co., Ltd.(a)

     23,700        322,937  

Stella Chemifa Corp.(a)

     18,600        417,813  

Sumida Corp.(a)

     27,600        169,248  

Sumitomo Forestry Co., Ltd.

     166,900        2,141,230  

Sumitomo Osaka Cement Co., Ltd.

     34,500        1,035,431  

Sun-Wa Technos Corp.

     75,200        567,718  

Systena Corp.

     31,500        427,762  

T-Gaia Corp.

     101,600        1,927,440  

T. RAD Co., Ltd.

     42,400        487,803  

Tachi-S Co., Ltd.

     67,200        610,032  

Tachibana Eletech Co., Ltd.(a)

     38,000        509,694  

Taiho Kogyo Co., Ltd.

     103,300        514,802  

Takara & Co. Ltd.

     61,200        950,696  

Takara Bio, Inc.(a)

     45,200        934,104  

Takasago Thermal Engineering Co., Ltd.

     98,101        1,509,386  

Takashimaya Co., Ltd.

     162,600        1,465,516  

Tamura Corp.

     87,300        320,233  

Tatsuta Electric Wire and Cable Co., Ltd.

     27,100        115,474  

TDC Soft, Inc.(a)

     86,200        634,792  

TechMatrix Corp.

     17,900        366,274  

TechnoPro Holdings, Inc.

     23,700        1,113,047  

Tekken Corp.

     12,500        271,873  

 

See Notes to Financial Statements.

 

66   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  

THK Co., Ltd.

     123,500      $ 2,530,517  

Toa Corp.

     50,900        379,552  

Toda Corp.(a)

     366,100        2,133,082  

Toho Bank Ltd. (The)

     313,672        784,507  

Tokai Carbon Co., Ltd.(a)

     115,900        957,647  

Tokai Corp.

     32,200        876,026  

Tokai Rika Co., Ltd.

     99,722        1,243,350  

Tokai Tokyo Financial Holdings, Inc.

     528,200        1,203,624  

Tokyo Electron Device Ltd.

     29,000        604,687  

Tokyo Ohka Kogyo Co., Ltd.

     35,600        1,366,884  

Tokyo Seimitsu Co., Ltd.

     52,900        1,509,258  

Tokyo Tatemono Co., Ltd.

     185,800        1,974,087  

Topcon Corp.

     54,900        407,853  

Torishima Pump Manufacturing Co., Ltd.

     111,700        790,503  

Tow Co., Ltd.(a)

     199,600        501,057  

Toyo Ink SC Holdings Co., Ltd.

     72,100        1,365,796  

Toyo Kanetsu K.K.

     50,600        916,335  

Toyo Tire Corp.(a)

     93,300        1,071,669  

Toyoda Gosei Co., Ltd.

     97,200        1,669,296  

Toyota Boshoku Corp.

     187,200        2,231,730  

Transcosmos, Inc.

     27,700        491,110  

TS Tech Co., Ltd.

     57,500        1,362,466  

Tsubakimoto Chain Co.

     52,100        1,187,217  

Tsukui Corp.

     99,300        379,889  

Tsumura & Co.

     61,401        1,565,241  

Ube Industries Ltd.

     107,700        1,653,086  

Uchida Yoko Co., Ltd.

     22,800        744,477  

Ulvac, Inc.

     37,900        909,277  

Uniden Holdings Corp.

     32,500        548,516  

United Super Markets Holdings, Inc.(a)

     66,100        588,413  

UNITED, Inc.

     38,900        289,349  

Unizo Holdings Co., Ltd.

     38,500        2,129,082  

V Technology Co., Ltd.

     14,800        429,105  

Vital KSK Holdings, Inc.(a)

     106,200        1,079,166  

Wacoal Holdings Corp.

     67,968        1,477,661  

Wacom Co., Ltd.

     112,600        331,683  

Warabeya Nichiyo Holdings Co., Ltd.

     51,600        837,894  

Weathernews, Inc.

     32,700        1,070,766  

Wellnet Corp.(a)

     72,700        317,858  

West Holdings Corp.(a)

     51,970        674,929  

WIN-Partners Co., Ltd.

     55,600        504,729  

World Holdings Co., Ltd.(a)

     35,700        406,422  

Wowow, Inc.

     35,500        789,218  

YAMABIKO Corp.

     35,800        269,275  

YAMADA Consulting Group Co., Ltd.(a)

     23,700        209,218  

Yamaguchi Financial Group, Inc.

     256,300        1,452,972  

Yamaichi Electronics Co., Ltd.

     56,700        727,953  

Yamatane Corp.

     36,700        376,672  

Yaoko Co., Ltd.

     15,600        963,846  

Yokohama Reito Co., Ltd.

     62,300        533,233  

Yorozu Corp.

     56,800        555,609  

Yuasa Trading Co., Ltd.

     42,748        1,131,710  

Yurtec Corp.

     39,600        225,594  

Yushin Precision Equipment Co., Ltd.

     70,100        437,009  

Zeon Corp.

     126,000      950,063  
     

 

 

 
Total Japan

 

     360,295,123  
Morocco – 0.1%

 

Vivo Energy PLC(a)(b)

     706,094        590,977  
Netherlands – 1.4%

 

Arcadis N.V.

     99,540        1,583,694  

BE Semiconductor Industries N.V.

     225,469        6,877,607  

Brunel International N.V.(a)

     23,140        128,475  

Corbion N.V.

     43,564        1,293,485  

ForFarmers N.V.(a)

     166,960        1,033,231  

Intertrust N.V.(b)

     118,823        1,485,012  

Koninklijke BAM Groep N.V.

     439,628        615,037  

Ordina N.V.

     311,742        469,989  

Sligro Food Group N.V.(a)

     49,874        742,061  

TKH Group N.V. CVA

     46,260        1,288,259  

Van Lanschot Kempen N.V.(a)

     105,784        1,300,001  
     

 

 

 
Total Netherlands

 

     16,816,851  
New Zealand – 2.2%

 

Air New Zealand Ltd.

     299,869        151,111  

Chorus Ltd.

     733,594        2,996,539  

EBOS Group Ltd.

     174,816        2,311,165  

Freightways Ltd.

     295,699        964,178  

Genesis Energy Ltd.

     2,417,451        3,604,463  

Heartland Group Holdings Ltd.(a)

     1,604,545        970,280  

Infratil Ltd.

     1,073,026        2,487,321  

Kathmandu Holdings Ltd.(a)

     778,757        517,089  

Kiwi Property Group Ltd.

     3,183,345        1,774,012  

Mainfreight Ltd.(a)

     67,647        1,385,612  

New Zealand King Salmon Investments Ltd.

     298,083        325,162  

Port of Tauranga Ltd.(a)

     546,751        1,961,055  

Scales Corp., Ltd.

     194,388        512,831  

SKYCITY Entertainment Group Ltd.

     1,803,099        1,998,969  

Trustpower Ltd.

     488,079        1,851,889  

Z Energy Ltd.(a)

     1,269,523        2,175,120  
     

 

 

 
Total New Zealand

 

     25,986,796  
Norway – 2.7%

 

AF Gruppen ASA

     128,871        1,791,750  

Atea ASA*

     215,806        1,810,543  

Austevoll Seafood ASA

     299,316        2,106,414  

Borregaard ASA

     104,428        962,635  

Elkem ASA(b)

     2,462,166        3,095,000  

Entra ASA(b)

     240,532        2,840,298  

Europris ASA(b)

     575,048        1,664,742  

Fjordkraft Holding ASA(b)

     295,022        1,910,437  

Grieg Seafood ASA

     131,955        1,215,127  

Kitron ASA

     589,099        481,332  

Kongsberg Gruppen ASA

     167,113        2,076,778  

Kvaerner ASA(a)

     1,144,451        687,695  

Ocean Yield ASA(a)

     621,359        1,384,611  

Selvaag Bolig ASA

     259,348        1,143,492  

SpareBank 1 Nord Norge

     334,647        1,660,328  

SpareBank 1 SMN(a)

     331,992        2,137,192  

 

See Notes to Financial Statements.

 

WisdomTree Trust      67  


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  

TGS Nopec Geophysical Co. ASA

     145,459      $ 1,617,904  

Veidekke ASA

     310,785        2,579,270  

XXL ASA*(a)(b)

     491,652        220,052  
     

 

 

 
Total Norway

 

     31,385,600  
Portugal – 1.3%

 

Altri, SGPS, S.A.(a)

     362,908        1,442,284  

Corticeira Amorim, SGPS, S.A.(a)

     155,606        1,412,010  

Navigator Co. S.A. (The)(a)

     2,233,269        5,288,083  

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

     1,573,032        4,004,343  

Semapa-Sociedade de Investimento e Gestao

     167,550        1,424,793  

Sonae, SGPS, S.A.

     2,974,548        1,924,024  
     

 

 

 
Total Portugal

 

     15,495,537  
Singapore – 3.1%

 

Accordia Golf Trust

     4,610,071        1,570,309  

AEM Holdings Ltd.

     421,200        494,015  

Best World International Ltd.(a)

     786,000        558,097  

Bukit Sembawang Estates Ltd.

     385,400        1,033,977  

China Aviation Oil Singapore Corp., Ltd.

     1,455,400        873,945  

Chip Eng Seng Corp., Ltd.(a)

     863,060        303,073  

CSE Global Ltd.

     1,883,300        456,325  

First Resources Ltd.

     1,371,400        1,165,427  

GuocoLand Ltd.

     980,000        922,288  

Hi-P International Ltd.(a)

     976,300        582,825  

Hong Leong Finance Ltd.

     1,057,300        1,574,236  

Hutchison Port Holdings Trust

     21,767,900        2,242,094  

Keppel Infrastructure Trust

     8,995,282        2,684,970  

NetLink NBN Trust

     7,735,100        4,916,435  

Oxley Holdings Ltd.

     6,268,843        902,562  

Raffles Medical Group Ltd.

     1,898,800        1,033,515  

Riverstone Holdings Ltd.(a)

     1,107,600        766,223  

SBS Transit Ltd.

     412,582        779,468  

Sheng Siong Group Ltd.

     1,271,800        1,062,922  

SIA Engineering Co., Ltd.

     1,108,900        1,331,755  

Singapore Post Ltd.

     3,107,900        1,407,870  

StarHub Ltd.

     5,567,900        5,200,904  

Tuan Sing Holdings Ltd.

     200        29  

UMS Holdings Ltd.

     1,214,359        533,044  

Wing Tai Holdings Ltd.

     1,409,000        1,533,834  

Yanlord Land Group Ltd.

     3,858,400        2,669,188  
     

 

 

 
Total Singapore

 

     36,599,330  
Spain – 2.7%

 

Acerinox S.A.

     338,542        2,307,543  

Applus Services S.A.

     45,032        289,057  

Atresmedia Corp. de Medios de Comunicacion S.A.(a)

     860,205        2,359,651  

Bolsas y Mercados Espanoles SHMSF S.A.

     238,476        8,650,741  

Construcciones y Auxiliar de Ferrocarriles S.A.

     31,300        970,216  

Ence Energia y Celulosa S.A.(a)

     589,131        1,616,061  

Euskaltel S.A.(b)

     227,251        1,680,628  

Faes Farma S.A.

     377,568        1,468,646  

Liberbank S.A.

     2,650,249        397,231  

Mediaset Espana Comunicacion S.A.

     553,597        2,050,699  

Melia Hotels International S.A.(a)

     231,182        984,218  

Metrovacesa S.A.(b)

     173,454      968,741  

Prosegur Cia de Seguridad S.A.

     656,594        1,648,385  

Sacyr S.A.

     1,050,635        1,604,711  

Unicaja Banco S.A.(b)

     2,806,215        1,631,934  

Viscofan S.A.

     55,625        3,041,962  
     

 

 

 
Total Spain

 

     31,670,424  
Sweden – 4.9%

 

AddTech AB Class B

     53,748        1,326,381  

Ahlstrom-Munksjo Oyj(a)

     139,138        1,703,789  

Atrium Ljungberg AB Class B

     164,148        2,564,683  

Avanza Bank Holding AB

     184,732        1,543,831  

Beijer Ref AB

     70,917        1,279,809  

Betsson AB*

     316,443        1,275,648  

Bilia AB Class A

     243,302        1,505,335  

BillerudKorsnas AB(a)

     143,158        1,567,734  

BioArctic AB(a)(b)

     68,715        426,534  

BioGaia AB Class B

     12,074        511,832  

Bonava AB Class B(a)

     156,881        679,606  

Bravida Holding AB(b)

     214,694        1,520,109  

Clas Ohlson AB Class B(a)

     167,565        1,218,553  

Coor Service Management Holding AB(b)

     183,527        899,324  

Dios Fastigheter AB

     273,237        1,828,438  

Dustin Group AB(a)(b)

     169,214        802,715  

Fagerhult AB

     263,296        1,039,078  

Granges AB

     123,094        611,264  

Hexpol AB

     365,327        2,197,633  

JM AB(a)

     142,898        2,490,118  

KNOW IT AB

     11,942        163,924  

Kungsleden AB

     302,403        2,289,151  

Loomis AB Class B

     82,983        1,691,873  

Mycronic AB(a)

     84,922        1,037,986  

NCC AB Class B

     161,136        2,119,162  

NetEnt AB*

     585,512        1,462,642  

Nobia AB

     449,931        1,605,777  

Nobina AB(b)

     239,120        1,305,691  

Nolato AB Class B

     28,839        1,308,098  

Peab AB Class B

     534,180        3,863,056  

Platzer Fastigheter Holding AB Class B

     115,765        826,083  

Ratos AB Class B

     256,222        535,321  

Resurs Holding AB(b)

     568,904        1,959,184  

Rottneros AB(a)

     297,572        272,713  

Samhallsbyggnadsbolaget i Norden AB

     1,271,495        2,438,346  

Scandi Standard AB

     72,929        442,387  

Scandic Hotels Group AB(b)

     227,261        684,464  

SkiStar AB

     118,788        914,796  

Thule Group AB(b)

     113,048        1,971,668  

Wihlborgs Fastigheter AB

     179,809        2,509,925  
     

 

 

 
Total Sweden

 

     56,394,661  
Switzerland – 2.2%

 

Allreal Holding AG Registered Shares*

     21,958        4,062,304  

Bobst Group S.A. Registered Shares(a)

     18,920        858,835  

Cembra Money Bank AG

     48,627        4,483,002  

Daetwyler Holding AG Bearer Shares

     12,050        1,937,864  

 

See Notes to Financial Statements.

 

68   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  

EFG International AG*

     530,764      $ 3,028,078  

Galenica AG(b)

     59,040        4,027,327  

Huber + Suhner AG Registered Shares

     19,210        1,203,169  

Implenia AG Registered Shares(a)

     13,730        485,314  

Landis+Gyr Group AG*

     30,171        2,076,780  

Mobilezone Holding AG Registered Shares*

     122,807        1,063,638  

Swissquote Group Holding S.A. Registered Shares

     14,303        828,570  

Valiant Holding AG Registered Shares

     23,111        1,853,562  
     

 

 

 
Total Switzerland

 

     25,908,443  
United Kingdom – 14.4%

 

A.G. Barr PLC

     99,757        596,204  

Aggreko PLC

     327,123        1,976,973  

Arrow Global Group PLC

     397,184        526,963  

Ascential PLC(b)

     291,135        890,930  

Bakkavor Group PLC(b)

     782,216        1,018,404  

Balfour Beatty PLC

     704,312        1,891,593  

Biffa PLC(b)

     306,618        683,584  

Big Yellow Group PLC

     196,169        2,442,127  

Bodycote PLC

     390,662        2,734,446  

Brewin Dolphin Holdings PLC

     685,749        1,862,145  

Card Factory PLC

     1,021,002        415,752  

Central Asia Metals PLC

     524,594        1,016,035  

Chesnara PLC

     310,458        1,120,212  

Clarkson PLC

     36,606        1,048,500  

Close Brothers Group PLC

     268,878        3,774,035  

CMC Markets PLC(b)

     914,500        2,041,082  

Coats Group PLC

     1,074,634        566,043  

Computacenter PLC

     106,299        1,884,818  

Concentric AB

     60,865        595,276  

Cranswick PLC

     42,868        1,965,642  

Daily Mail & General Trust PLC Class A Non-Voting Shares(a)

     340,106        2,876,093  

Dart Group PLC

     69,714        476,295  

Devro PLC

     340,453        672,054  

Diploma PLC

     99,324        1,987,751  

DiscoverIE Group PLC

     105,798        644,115  

Diversified Gas & Oil PLC

     1,609,782        1,756,524  

Dixons Carphone PLC

     3,460,916        3,350,697  

Domino’s Pizza Group PLC

     794,257        2,796,943  

Drax Group PLC

     737,709        1,405,928  

EMIS Group PLC

     71,070        916,482  

Empiric Student Property PLC

     1,617,614        1,325,808  

Equiniti Group PLC(b)

     344,287        755,611  

Essentra PLC

     470,008        1,531,563  

Euromoney Institutional Investor PLC

     119,393        1,199,135  

FDM Group Holdings PLC

     126,381        1,158,058  

Ferrexpo PLC

     712,632        1,043,123  

Galliford Try Holdings PLC

     427,588        697,515  

Games Workshop Group PLC

     29,104        1,562,589  

Gamma Communications PLC

     29,820        369,753  

Genus PLC

     21,954        887,433  

Go-Ahead Group PLC (The)

     86,138        882,758  

Halfords Group PLC

     667,130        577,391  

Hammerson PLC

     2,414,046      2,316,213  

Hastings Group Holdings PLC(b)

     1,759,830        4,025,977  

Hays PLC

     2,996,505        4,280,276  

Hill & Smith Holdings PLC

     90,852        1,077,516  

Hilton Food Group PLC

     53,153        711,796  

Hyve Group PLC

     508,929        124,316  

IntegraFin Holdings PLC

     357,624        1,931,164  

International Personal Finance PLC

     574,491        542,803  

iomart Group PLC(a)

     198,120        663,279  

James Fisher & Sons PLC

     28,616        446,369  

James Halstead PLC

     272,820        1,644,056  

John Laing Group PLC(b)

     572,980        2,412,745  

Jupiter Fund Management PLC

     1,240,817        3,077,103  

Keller Group PLC

     180,664        1,178,316  

Marshalls PLC

     206,218        1,497,124  

Marston’s PLC

     1,979,969        1,012,468  

Midwich Group PLC

     48,916        239,581  

Moneysupermarket.com Group PLC

     606,189        2,284,247  

Morgan Advanced Materials PLC

     617,956        1,418,300  

Morgan Sindall Group PLC

     98,921        1,471,885  

Naked Wines PLC(a)

     131,217        408,383  

National Express Group PLC

     703,811        1,795,997  

OneSavings Bank PLC

     712,348        2,215,256  

Pagegroup PLC

     605,343        2,733,668  

Paragon Banking Group PLC

     480,154        1,979,000  

Pets at Home Group PLC

     836,945        2,671,220  

Pharos Energy PLC

     554,590        82,520  

Photo-Me International PLC

     1,281,267        621,185  

Polar Capital Holdings PLC

     225,928        1,078,537  

Polypipe Group PLC

     278,109        1,586,270  

Provident Financial PLC

     224,690        604,850  

PZ Cussons PLC

     625,951        1,490,204  

QinetiQ Group PLC

     598,727        2,390,501  

Rank Group PLC

     844,339        1,358,926  

Redde Northgate PLC

     722,229        1,244,784  

Redrow PLC

     676,181        3,014,159  

Renewi PLC

     2,881,792        837,934  

Royal Mail PLC

     4,321,085        6,708,129  

RPS Group PLC

     569,840        242,355  

RWS Holdings PLC

     143,251        814,407  

Sabre Insurance Group PLC(b)

     549,338        1,975,340  

Safestore Holdings PLC

     227,458        1,806,444  

Saga PLC

     4,443,538        934,456  

Savills PLC

     212,897        2,177,849  

Senior PLC

     647,864        564,332  

SIG PLC

     828,283        238,887  

Softcat PLC

     203,661        2,618,731  

Spirent Communications PLC

     508,552        1,311,605  

St. Modwen Properties PLC

     135,421        554,960  

SThree PLC

     366,627        1,041,032  

Superdry PLC

     202,800        269,819  

Synthomer PLC

     460,706        1,388,144  

TalkTalk Telecom Group PLC

     1,010,494        1,064,391  

TBC Bank Group PLC

     81,921        736,440  

 

See Notes to Financial Statements.

 

WisdomTree Trust      69  


Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

 

 

Investments    Shares      Value  

Telecom Plus PLC

     109,479      $ 1,685,996  

TI Fluid Systems PLC(b)

     865,350        1,577,297  

TP ICAP PLC

     1,242,105        5,211,862  

TT Electronics PLC

     180,890        344,292  

Tyman PLC

     567,144        1,081,568  

U & I Group PLC

     334,590        330,240  

Ultra Electronics Holdings PLC

     91,524        2,278,783  

Vesuvius PLC

     464,131        1,855,410  

Victrex PLC

     88,981        2,173,541  

Vistry Group PLC

     755,368        5,394,924  

Volution Group PLC

     188,846        366,460  

Watkin Jones PLC

     544,940        1,044,630  

WH Smith PLC

     123,735        1,750,582  

Wincanton PLC

     158,901        496,514  

XPS Pensions Group PLC(a)

     395,558        539,519  
     

 

 

 
Total United Kingdom

 

     166,972,250  
TOTAL COMMON STOCKS
(Cost: $1,497,719,087)
              1,147,873,506  
EXCHANGE-TRADED FUNDS – 0.2%

 

United States – 0.2%      

WisdomTree Europe SmallCap Dividend Fund(a)(c)

     33,642        1,368,220  

WisdomTree Japan SmallCap Dividend Fund(c)

     19,107        1,110,881  
TOTAL EXCHANGE-TRADED FUNDS
(Cost: $2,404,597)
              2,479,101  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.1%

 

United States – 5.1%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(d)

 

  
(Cost: $58,895,992)      58,895,992      58,895,992  
TOTAL INVESTMENTS IN SECURITIES – 104.1%
(Cost: $1,559,019,676)

 

     1,209,248,599  

Other Assets less Liabilities – (4.1)%

 

     (47,809,263
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,161,439,336  
* 

Non-income producing security.

 

 

Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $558,097, which represents 0.05% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $115,316,548. The Fund also had securities on loan having a total market value of $203,954 that were sold and pending settlement. The total market value of the collateral held by the Fund was $122,560,399. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $63,664,407.

 

(b) 

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

 

(c) 

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

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

               
Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree Europe SmallCap Dividend Fund

  $ 7,277,796     $ 6,653,142     $ 12,609,281     $ (157,923   $ 204,486     $ 1,368,220     $ 266,240  

WisdomTree Japan SmallCap Dividend Fund

    5,920,851       5,364,588       10,532,401       (28,540     386,383       1,110,881       128,192  

Total

  $ 13,198,647     $ 12,017,730     $ 23,141,682     $ (186,463   $ 590,869     $ 2,479,101     $ 394,432  

 

See Notes to Financial Statements.

 

70   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2020

 

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

Citibank N.A.

    4/2/2020       2,544,487       AUD       15,500,000       SEK     $     $ (7,086

Citibank N.A.

    4/2/2020       646,000       CHF       6,654,317       SEK             (3,965

Deutsche Bank AG

    4/2/2020       1,550,000       NOK       1,010,299       DKK             (951

Goldman Sachs

    4/1/2020       617,769       EUR       550,000       GBP             (4,125

JP Morgan Chase Bank N.A.

    4/2/2020       2,800,000       EUR       2,481,304       GBP             (4,392

JP Morgan Chase Bank N.A.

    4/2/2020       390,000       USD       314,217       GBP       387        

Morgan Stanley & Co. International

    4/2/2020       1,000,000       AUD       493,664       GBP             (68

Societe Generale

    4/2/2020       450,000,000       JPY       3,362,676       GBP             (1,147

Standard Chartered Bank

    4/1/2020       603,216       AUD       300,000       GBP             (2,787

Standard Chartered Bank

    4/2/2020       355,000       SGD       1,693,126       DKK       364        

State Street Bank and Trust

    4/1/2020       148,719       CHF       125,000       GBP             (1,287

State Street Bank and Trust

    4/1/2020       254,125,296       JPY       18,264,000       HKD             (2,379

State Street Bank and Trust

    4/2/2020       8,420,000       HKD       7,363,744       DKK       3,549        
                                            $ 4,300     $ (28,187

 

See Notes to Financial Statements.

 

WisdomTree Trust      71  


Table of Contents

Schedule of Investments

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 97.5%

 

Japan – 97.5%

 

Air Freight & Logistics – 0.3%

 

Kintetsu World Express, Inc.

     20,000      $ 294,011  

Konoike Transport Co., Ltd.

     17,100        183,426  

Maruwa Unyu Kikan Co., Ltd.(a)

     6,300        142,685  

SBS Holdings, Inc.

     9,600        155,532  
     

 

 

 
Total Air Freight & Logistics

 

     775,654  
Auto Components – 6.1%

 

Aisan Industry Co., Ltd.

     41,300        193,196  

Daido Metal Co., Ltd.

     30,300        151,002  

Daikyonishikawa Corp.(a)

     36,000        164,735  

Eagle Industry Co., Ltd.

     35,900        225,466  

Exedy Corp.

     28,025        415,099  

FCC Co., Ltd.

     16,200        236,949  

Futaba Industrial Co., Ltd.

     17,900        75,775  

G-Tekt Corp.

     15,600        159,678  

H-One Co., Ltd.

     4,500        20,759  

Ichikoh Industries Ltd.

     12,200        54,358  

Kasai Kogyo Co., Ltd.(a)

     27,700        135,479  

Keihin Corp.

     28,021        655,394  

Musashi Seimitsu Industry Co., Ltd.

     26,700        206,269  

NHK Spring Co., Ltd.

     100,100        656,485  

Nifco, Inc.

     32,972        592,522  

Nihon Tokushu Toryo Co., Ltd.

     8,100        59,350  

Nippon Piston Ring Co., Ltd.(a)

     7,500        78,505  

Nissin Kogyo Co., Ltd.

     32,300        659,434  

NOK Corp.

     75,800        837,658  

Pacific Industrial Co., Ltd.

     20,100        175,203  

Piolax, Inc.

     12,100        170,255  

Press Kogyo Co., Ltd.

     43,900        98,409  

Sanoh Industrial Co., Ltd.(a)

     29,700        188,178  

Shoei Co., Ltd.(a)

     8,200        172,348  

Showa Corp.

     28,000        584,095  

Sumitomo Riko Co., Ltd.

     28,100        152,272  

Sumitomo Rubber Industries Ltd.

     167,800        1,583,884  

T. RAD Co., Ltd.

     7,600        87,436  

Tachi-S Co., Ltd.

     12,100        109,842  

Taiho Kogyo Co., Ltd.

     24,400        121,599  

Tokai Rika Co., Ltd.

     44,058        549,322  

Topre Corp.

     25,000        277,894  

Toyo Tire Corp.(a)

     51,000        585,800  

Toyoda Gosei Co., Ltd.

     51,900        891,321  

Toyota Boshoku Corp.

     100,100        1,193,355  

TPR Co., Ltd.(a)

     15,200        162,201  

TS Tech Co., Ltd.

     27,700        656,353  

Unipres Corp.

     20,903        186,656  

Yokohama Rubber Co., Ltd. (The)

     65,900        819,820  

Yorozu Corp.

     13,900        135,968  
     

 

 

 
Total Auto Components

 

     14,480,324  
Automobiles – 0.1%

 

Nissan Shatai Co., Ltd.

     27,700        240,936  
Banks – 7.9%

 

77 Bank Ltd. (The)

     28,100      364,151  

Aomori Bank Ltd. (The)

     8,262        200,207  

Aozora Bank Ltd.(a)

     94,500        1,805,002  

Awa Bank Ltd. (The)

     12,075        255,247  

Bank of Kyoto Ltd. (The)(a)

     14,000        446,112  

Bank of Nagoya Ltd. (The)

     8,069        195,381  

Bank of Okinawa Ltd. (The)

     8,080        236,139  

Bank of the Ryukyus Ltd.

     20,908        205,294  

Chugoku Bank Ltd. (The)

     51,300        457,616  

Daishi Hokuetsu Financial Group, Inc.

     14,555        318,591  

Ehime Bank Ltd. (The)

     12,099        131,463  

FIDEA Holdings Co., Ltd.

     216,300        204,369  

Fukui Bank Ltd. (The)(a)

     9,648        135,486  

Gunma Bank Ltd. (The)

     192,900        586,089  

Hachijuni Bank Ltd. (The)

     188,500        682,724  

Hiroshima Bank Ltd. (The)

     159,400        665,920  

Hokkoku Bank Ltd. (The)

     9,162        286,008  

Hokuhoku Financial Group, Inc.

     63,700        571,179  

Hyakugo Bank Ltd. (The)

     103,400        289,258  

Hyakujushi Bank Ltd. (The)

     20,100        365,116  

Iyo Bank Ltd. (The)

     88,600        448,930  

Jimoto Holdings, Inc.

     141,100        118,939  

Juroku Bank Ltd. (The)

     13,400        233,977  

Kansai Mirai Financial Group, Inc.

     84,000        302,682  

Keiyo Bank Ltd. (The)

     72,242        357,345  

Kiyo Bank Ltd. (The)

     19,990        295,531  

Kyushu Financial Group, Inc.

     171,400        655,720  

Mebuki Financial Group, Inc.

     637,900        1,299,968  

Michinoku Bank Ltd. (The)

     12,100        133,716  

Musashino Bank Ltd. (The)

     11,800        150,403  

Nanto Bank Ltd. (The)

     12,100        249,947  

Nishi-Nippon Financial Holdings, Inc.

     64,200        362,762  

North Pacific Bank Ltd.

     203,915        385,333  

Ogaki Kyoritsu Bank Ltd. (The)

     18,342        369,541  

San ju San Financial Group, Inc.

     13,800        190,724  

San-In Godo Bank Ltd. (The)

     76,100        385,593  

Senshu Ikeda Holdings, Inc.

     275,940        416,639  

Seven Bank Ltd.

     623,800        1,612,155  

Shiga Bank Ltd. (The)(a)

     14,384        342,162  

Shikoku Bank Ltd. (The)

     23,000        181,733  

Tochigi Bank Ltd. (The)

     67,943        97,551  

Toho Bank Ltd. (The)

     141,100        352,897  

Tokyo Kiraboshi Financial Group, Inc.

     17,500        184,961  

TOMONY Holdings, Inc.

     47,177        156,885  

Towa Bank Ltd. (The)

     36,000        209,754  

Yamagata Bank Ltd. (The)

     12,200        151,320  

Yamaguchi Financial Group, Inc.

     105,900        600,350  

Yamanashi Chuo Bank Ltd. (The)

     1,600        10,908  
     

 

 

 
Total Banks

 

     18,659,778  
Beverages – 0.3%

 

Sapporo Holdings Ltd.

     20,098        371,037  

Takara Holdings, Inc.(a)

     43,911        329,470  
     

 

 

 
Total Beverages

 

     700,507  

 

See Notes to Financial Statements.

 

72   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  
Biotechnology – 0.0%

 

Takara Bio, Inc.(a)

     4,100      $ 84,731  
Building Products – 1.9%

 

Aica Kogyo Co., Ltd.

     20,015        573,817  

Bunka Shutter Co., Ltd.

     22,800        165,791  

Central Glass Co., Ltd.

     15,686        273,457  

Eidai Co., Ltd.

     37,500        95,873  

Maeda Kosen Co., Ltd.

     4,100        77,819  

Nichias Corp.

     28,013        525,203  

Nichiha Corp.

     10,400        197,297  

Nihon Flush Co., Ltd.

     8,200        72,160  

Nippon Sheet Glass Co., Ltd.(a)

     51,900        160,092  

Nitto Boseki Co., Ltd.(a)

     8,399        371,500  

Noritz Corp.

     18,000        196,248  

Okabe Co., Ltd.

     20,100        134,614  

Sanwa Holdings Corp.

     74,166        579,835  

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

     14,300        286,517  

Sinko Industries Ltd.

     12,100        156,469  

Takara Standard Co., Ltd.

     20,031        307,641  

Takasago Thermal Engineering Co., Ltd.

     27,972        430,378  
     

 

 

 
Total Building Products

 

     4,604,711  
Capital Markets – 1.7%

 

GCA Corp.

     30,900        161,148  

GMO Financial Holdings, Inc.

     76,100        321,445  

Ichiyoshi Securities Co., Ltd.

     23,088        95,385  

IwaiCosmo Holdings, Inc.(a)

     27,700        241,450  

Kyokuto Securities Co., Ltd.

     3,000        16,173  

Marusan Securities Co., Ltd.

     30,400        127,564  

Matsui Securities Co., Ltd.(a)

     280,900        2,063,394  

Monex Group, Inc.(a)

     59,394        94,080  

Morningstar Japan K.K.

     24,944        80,409  

Okasan Securities Group, Inc.

     115,500        365,902  

Sparx Group Co., Ltd.

     124,000        190,672  

Tokai Tokyo Financial Holdings, Inc.

     167,900        382,598  
     

 

 

 
Total Capital Markets

 

     4,140,220  
Chemicals – 8.9%

 

Achilles Corp.

     3,800        61,705  

ADEKA Corp.

     41,225        515,909  

Air Water, Inc.

     60,300        830,029  

Arakawa Chemical Industries Ltd.

     2,300        25,630  

Asahi Yukizai Corp.(a)

     12,100        156,357  

C.I. Takiron Corp.

     46,900        260,230  

Chugoku Marine Paints Ltd.

     35,900        292,308  

Daicel Corp.(a)

     148,000        1,081,673  

Dainichiseika Color & Chemicals Manufacturing Co., Ltd.

     9,242        201,953  

Denka Co., Ltd.

     45,500        959,692  

DIC Corp.

     52,500        1,163,749  

DKS Co., Ltd.(a)

     2,900        100,736  

Fujimi, Inc.(a)

     14,800        368,509  

Fujimori Kogyo Co., Ltd.

     3,400        92,122  

Fuso Chemical Co., Ltd.(a)

     12,100        340,174  

Harima Chemicals Group, Inc.(a)

     12,100        125,870  

JCU Corp.

     11,300      235,829  

JSP Corp.(a)

     11,823        153,106  

Kaneka Corp.

     24,000        575,795  

KH Neochem Co., Ltd.(a)

     10,600        149,346  

Koatsu Gas Kogyo Co., Ltd.

     11,800        78,918  

Konishi Co., Ltd.

     11,800        156,524  

Kumiai Chemical Industry Co., Ltd.(a)

     31,624        245,188  

Kureha Corp.

     6,264        255,597  

Lintec Corp.

     35,665        751,259  

Mitsubishi Gas Chemical Co., Inc.

     159,100        1,733,144  

Moriroku Holdings Co., Ltd.(a)

     12,100        167,789  

Nihon Nohyaku Co., Ltd.(a)

     52,000        201,343  

Nihon Parkerizing Co., Ltd.

     35,900        372,452  

Nippon Chemical Industrial Co., Ltd.(a)

     4,700        96,651  

Nippon Kayaku Co., Ltd.

     58,400        538,261  

Nippon Pillar Packing Co., Ltd.

     10,800        125,852  

Nippon Shokubai Co., Ltd.(a)

     13,100        600,667  

Nippon Soda Co., Ltd.

     10,718        267,764  

NOF Corp.

     22,500        714,881  

Okamoto Industries, Inc.

     6,587        236,743  

Osaka Organic Chemical Industry Ltd.(a)

     2,600        36,174  

Osaka Soda Co., Ltd.(a)

     11,800        281,351  

Riken Technos Corp.

     33,200        118,401  

Sakai Chemical Industry Co., Ltd.

     3,800        63,254  

Sakata INX Corp.

     27,700        233,239  

Sanyo Chemical Industries Ltd.

     6,435        235,750  

Sekisui Plastics Co., Ltd.

     28,000        145,246  

Shikoku Chemicals Corp.

     20,000        183,966  

Stella Chemifa Corp.(a)

     4,100        92,099  

Sumitomo Bakelite Co., Ltd.

     11,818        251,237  

Sumitomo Seika Chemicals Co., Ltd.

     3,300        81,251  

T Hasegawa Co., Ltd.

     12,100        228,315  

Taiyo Holdings Co., Ltd.

     11,791        444,531  

Takasago International Corp.

     4,100        76,603  

Tayca Corp.(a)

     4,100        54,576  

Toagosei Co., Ltd.

     43,900        382,252  

Tokai Carbon Co., Ltd.(a)

     65,900        544,512  

Tokuyama Corp.

     19,600        379,818  

Tokyo Ohka Kogyo Co., Ltd.

     17,900        687,282  

Toyo Ink SC Holdings Co., Ltd.

     29,602        560,753  

Toyobo Co., Ltd.

     35,953        380,661  

Ube Industries Ltd.

     51,893        796,505  

Valqua Ltd.

     12,137        196,746  

Zeon Corp.

     44,100        332,522  
     

 

 

 
Total Chemicals

 

     21,020,799  
Commercial Services & Supplies – 1.7%

 

Aeon Delight Co., Ltd.

     12,100        370,437  

Bell System24 Holdings, Inc.

     20,100        209,835  

Central Security Patrols Co., Ltd.

     2,200        79,478  

Daiseki Co., Ltd.

     8,407        179,113  

Itoki Corp.

     17,500        51,711  

Kokuyo Co., Ltd.

     28,003        392,205  

Mitsubishi Pencil Co., Ltd.

     11,800        155,322  

 

See Notes to Financial Statements.

 

WisdomTree Trust      73  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

NAC Co., Ltd.(a)

     12,900      $ 94,161  

Nichiban Co., Ltd.

     4,100        56,816  

Nippon Kanzai Co., Ltd.

     14,300        234,326  

Nippon Parking Development Co., Ltd.

     139,700        174,698  

Okamura Corp.

     27,676        221,757  

Park24 Co., Ltd.

     51,900        764,883  

Pilot Corp.

     3,800        126,543  

Prestige International, Inc.

     11,800        90,614  

Relia, Inc.

     23,500        227,479  

Sato Holdings Corp.

     11,738        230,726  

Toppan Forms Co., Ltd.

     35,900        320,242  

Uchida Yoko Co., Ltd.

     2,800        91,427  
     

 

 

 
Total Commercial Services & Supplies

 

     4,071,773  
Communications Equipment – 0.1%

 

Uniden Holdings Corp.

     7,500        126,580  
Construction & Engineering – 5.4%

 

Asanuma Corp.

     4,100        143,370  

Daiho Corp.

     4,100        85,984  

Hazama Ando Corp.

     92,100        587,809  

Kandenko Co., Ltd.

     60,038        478,836  

Kumagai Gumi Co., Ltd.

     17,300        400,790  

Kyowa Exeo Corp.

     35,666        794,890  

Kyudenko Corp.(a)

     25,890        701,000  

Maeda Corp.(a)

     46,987        346,891  

Maeda Road Construction Co., Ltd.(a)

     36,394        681,323  

Meisei Industrial Co., Ltd.

     35,900        244,089  

Mirait Holdings Corp.(a)

     28,000        349,368  

Nippo Corp.

     28,058        618,573  

Nippon Densetsu Kogyo Co., Ltd.

     12,100        236,160  

Nippon Koei Co., Ltd.(a)

     4,200        114,303  

Nishimatsu Construction Co., Ltd.

     29,807        571,815  

Nittoc Construction Co., Ltd.

     36,000        246,103  

Okumura Corp.

     20,070        417,927  

OSJB Holdings Corp.

     44,700        98,961  

Penta-Ocean Construction Co., Ltd.

     115,993        611,366  

PS Mitsubishi Construction Co., Ltd.

     43,000        204,335  

Raito Kogyo Co., Ltd.

     20,000        227,317  

Raiznext Corp.

     25,400        288,222  

Sanki Engineering Co., Ltd.

     23,700        265,858  

Seikitokyu Kogyo Co., Ltd.

     21,100        159,489  

Shinnihon Corp.

     12,100        92,469  

SHO-BOND Holdings Co., Ltd.(a)

     11,800        472,197  

Sumitomo Densetsu Co., Ltd.

     13,800        284,168  

Sumitomo Mitsui Construction Co., Ltd.

     71,660        316,630  

Taihei Dengyo Kaisha Ltd.

     11,500        247,033  

Taikisha Ltd.

     12,065        349,807  

Tekken Corp.

     9,700        210,973  

Toa Corp.

     4,100        54,841  

Toda Corp.(a)

     124,049        722,772  

Tokyo Energy & Systems, Inc.

     10,400        79,189  

Tokyu Construction Co., Ltd.

     48,400        255,103  

Totetsu Kogyo Co., Ltd.(a)

     12,079        326,381  

Toyo Construction Co., Ltd.

     28,000        113,603  

Yokogawa Bridge Holdings Corp.

     10,700      195,059  

Yurtec Corp.

     24,600        140,142  
     

 

 

 
Total Construction & Engineering

 

     12,735,146  
Construction Materials – 0.3%

 

Asia Pile Holdings Corp.(a)

     13,000        48,409  

Krosaki Harima Corp.

     6,600        249,743  

Shinagawa Refractories Co., Ltd.(a)

     7,200        147,728  

Sumitomo Osaka Cement Co., Ltd.

     12,040        361,351  
     

 

 

 
Total Construction Materials

 

     807,231  
Consumer Finance – 0.8%

 

Credit Saison Co., Ltd.

     91,900        1,069,209  

J Trust Co., Ltd.(a)

     20,100        41,892  

Jaccs Co., Ltd.

     20,100        341,470  

Orient Corp.(a)

     426,600        478,149  
     

 

 

 
Total Consumer Finance

 

     1,930,720  
Containers & Packaging – 0.5%

 

FP Corp.

     7,000        464,916  

Fuji Seal International, Inc.

     5,910        104,673  

Pack Corp. (The)

     4,100        137,483  

Rengo Co., Ltd.

     56,800        443,014  
     

 

 

 
Total Containers & Packaging

 

     1,150,086  
Distributors – 0.2%

 

Arata Corp.(a)

     5,200        222,778  

Doshisha Co., Ltd.

     15,500        183,780  

Happinet Corp.

     16,700        169,545  
     

 

 

 
Total Distributors

 

     576,103  
Diversified Consumer Services – 0.4%

 

Benesse Holdings, Inc.

     21,700        552,978  

Meiko Network Japan Co., Ltd.

     12,086        85,309  

Riso Kyoiku Co., Ltd.(a)

     51,900        137,496  

Sprix Ltd.

     3,200        19,000  

Studio Alice Co., Ltd.

     9,660        132,075  

Tokyo Individualized Educational Institute, Inc.

     24,700        104,104  
     

 

 

 
Total Diversified Consumer Services

 

     1,030,962  
Diversified Financial Services – 0.9%

 

eGuarantee, Inc.(a)

     4,100        60,044  

Financial Products Group Co., Ltd.

     67,400        340,887  

Fuyo General Lease Co., Ltd.

     13,300        675,133  

Japan Securities Finance Co., Ltd.

     58,000        264,870  

Mizuho Leasing Co., Ltd.

     20,100        392,300  

NEC Capital Solutions Ltd.

     12,100        206,234  

Ricoh Leasing Co., Ltd.

     9,600        252,816  
     

 

 

 
Total Diversified Financial Services

 

     2,192,284  
Diversified Telecommunication Services – 0.3%

 

ARTERIA Networks Corp.

     13,800        234,442  

Internet Initiative Japan, Inc.

     10,700        351,364  
     

 

 

 
Total Diversified Telecommunication Services

 

     585,806  
Electric Utilities – 0.6%

 

Hokkaido Electric Power Co., Inc.

     52,000        225,427  

Okinawa Electric Power Co., Inc. (The)

     24,925        457,149  

 

See Notes to Financial Statements.

 

74   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

Shikoku Electric Power Co., Inc.

     87,900      $ 695,351  
     

 

 

 
Total Electric Utilities

 

     1,377,927  
Electrical Equipment – 1.5%

 

Daihen Corp.

     10,800        290,721  

Denyo Co., Ltd.

     12,100        215,761  

Fujikura Ltd.(a)

     98,515        285,630  

Furukawa Electric Co., Ltd.

     21,700        394,984  

GS Yuasa Corp.

     22,300        300,349  

Helios Techno Holding Co., Ltd.

     1,900        5,562  

Idec Corp.

     10,336        131,169  

Mabuchi Motor Co., Ltd.

     27,700        826,215  

Nippon Carbon Co., Ltd.(a)

     3,800        113,167  

Nissin Electric Co., Ltd.

     35,665        305,922  

Nitto Kogyo Corp.

     12,100        193,793  

Sanyo Denki Co., Ltd.

     4,100        165,398  

SEC Carbon Ltd.(a)

     2,100        120,800  

Sinfonia Technology Co., Ltd.

     12,100        107,600  

Tatsuta Electric Wire and Cable Co., Ltd.

     35,900        152,971  

Toyo Tanso Co., Ltd.

     4,100        53,132  
     

 

 

 
Total Electrical Equipment

 

     3,663,174  
Electronic Equipment, Instruments & Components – 5.1%

 

Ai Holdings Corp.

     19,300        238,311  

Amano Corp.

     28,035        619,884  

Anritsu Corp.(a)

     26,200        486,844  

Canon Electronics, Inc.

     28,000        413,691  

Citizen Watch Co., Ltd.(a)

     146,800        522,173  

CMK Corp.

     20,100        82,854  

CONEXIO Corp.

     19,500        244,755  

Daitron Co., Ltd.

     7,400        101,861  

Daiwabo Holdings Co., Ltd.

     10,239        492,246  

Dexerials Corp.

     35,900        232,117  

Elematec Corp.

     22,154        157,810  

Enplas Corp.

     3,800        74,624  

ESPEC Corp.

     12,100        184,041  

FTGroup Co., Ltd.(a)

     12,100        117,912  

Furuno Electric Co., Ltd.

     8,600        67,156  

Hakuto Co., Ltd.

     15,534        139,145  

Hioki EE Corp.(a)

     4,100        116,785  

Hochiki Corp.

     7,500        94,901  

Horiba Ltd.

     14,900        742,550  

Ibiden Co., Ltd.

     35,900        788,466  

Iriso Electronics Co., Ltd.(a)

     4,100        121,152  

Japan Aviation Electronics Industry Ltd.

     27,700        333,821  

Japan Cash Machine Co., Ltd.(a)

     7,800        39,088  

Kaga Electronics Co., Ltd.

     20,100        316,893  

Koa Corp.(a)

     12,447        102,846  

Kyosan Electric Manufacturing Co., Ltd.(a)

     38,800        167,485  

Macnica Fuji Electronics Holdings, Inc.

     28,400        352,780  

Meiko Electronics Co., Ltd.(a)

     8,000        99,152  

Nippon Electric Glass Co., Ltd.

     50,700        680,039  

Nippon Signal Co., Ltd.

     20,400        199,361  

Nissha Co., Ltd.

     20,100        133,683  

Nohmi Bosai Ltd.

     12,091        224,225  

Ohara, Inc.(a)

     6,700      54,119  

Oki Electric Industry Co., Ltd.

     43,900        412,344  

Optex Group Co., Ltd.

     12,100        112,084  

Osaki Electric Co., Ltd.

     30,200        149,384  

Restar Holdings Corp.(a)

     20,800        291,707  

Riken Keiki Co., Ltd.

     4,900        92,685  

Ryoden Corp.

     12,061        144,904  

Ryosan Co., Ltd.

     20,100        444,805  

Sanshin Electronics Co., Ltd.

     15,500        200,292  

Satori Electric Co., Ltd.(a)

     14,200        116,673  

Siix Corp.(a)

     12,700        102,113  

Sumida Corp.(a)

     8,700        53,350  

Tachibana Eletech Co., Ltd.(a)

     17,900        240,093  

Taiyo Yuden Co., Ltd.(a)

     19,500        516,785  

Tamura Corp.

     20,100        73,731  

Tokyo Electron Device Ltd.

     1,800        37,532  

Topcon Corp.

     27,200        202,069  

V Technology Co., Ltd.

     3,800        110,176  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     12,043,497  
Energy Equipment & Services – 0.1%

 

Modec, Inc.

     12,204        147,753  

Toyo Kanetsu K.K.

     7,400        134,009  
     

 

 

 
Total Energy Equipment & Services

 

     281,762  
Entertainment – 1.6%

 

Akatsuki, Inc.(a)

     1,600        53,578  

Amuse, Inc.(a)

     4,100        86,364  

Avex, Inc.

     26,899        212,042  

Capcom Co., Ltd.

     28,026        880,072  

Daiichikosho Co., Ltd.

     16,900        451,011  

GungHo Online Entertainment, Inc.

     11,749        164,555  

Koei Tecmo Holdings Co., Ltd.

     45,400        1,171,219  

Marvelous, Inc.

     27,700        137,018  

Toei Animation Co., Ltd.(a)

     7,400        346,163  

Toei Co., Ltd.(a)

     1,431        179,745  
     

 

 

 
Total Entertainment

 

     3,681,767  
Food & Staples Retailing – 3.3%

 

Ain Holdings, Inc.

     4,100        241,165  

Arcs Co., Ltd.

     20,094        362,587  

Axial Retailing, Inc.

     5,000        184,336  

Cawachi Ltd.

     11,000        241,693  

Cocokara fine, Inc.

     3,600        187,078  

Cosmos Pharmaceutical Corp.

     1,400        334,325  

Create SD Holdings Co., Ltd.

     12,100        303,299  

Heiwado Co., Ltd.

     16,263        286,830  

JM Holdings Co., Ltd.

     5,600        114,381  

Kato Sangyo Co., Ltd.

     9,916        312,760  

Kobe Bussan Co., Ltd.(a)

     12,100        477,477  

Kusuri no Aoki Holdings Co., Ltd.

     2,300        191,320  

Life Corp.

     12,100        334,346  

Mitsubishi Shokuhin Co., Ltd.

     13,700        352,668  

Nihon Chouzai Co., Ltd.

     8,200        125,710  

Okuwa Co., Ltd.

     20,000        321,615  

 

See Notes to Financial Statements.

 

WisdomTree Trust      75  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

Qol Holdings Co., Ltd.

     10,400      $ 127,646  

San-A Co., Ltd.

     4,100        171,094  

Shoei Foods Corp.

     4,100        150,396  

Sugi Holdings Co., Ltd.

     12,100        646,723  

Sundrug Co., Ltd.

     36,000        1,153,814  

United Super Markets Holdings, Inc.(a)

     29,300        260,824  

Valor Holdings Co., Ltd.

     16,191        288,410  

Yaoko Co., Ltd.

     6,300        389,246  

Yokohama Reito Co., Ltd.

     22,100        189,157  
     

 

 

 
Total Food & Staples Retailing

 

     7,748,900  
Food Products – 2.9%

 

Ariake Japan Co., Ltd.

     4,828        305,006  

Chubu Shiryo Co., Ltd.

     9,400        125,821  

Feed One Co., Ltd.

     83,900        117,353  

Fuji Oil Holdings, Inc.

     19,500        471,085  

Fujicco Co., Ltd.

     12,100        218,227  

Hokuto Corp.

     16,391        286,203  

Itoham Yonekyu Holdings, Inc.

     102,300        603,632  

Kagome Co., Ltd.

     20,000        519,661  

Kameda Seika Co., Ltd.

     4,100        187,805  

Kotobuki Spirits Co., Ltd.

     4,200        189,273  

Marudai Food Co., Ltd.(a)

     9,000        162,985  

Maruha Nichiro Corp.

     7,632        159,632  

Megmilk Snow Brand Co., Ltd.

     12,800        291,203  

Mitsui Sugar Co., Ltd.

     12,098        232,759  

Morinaga & Co., Ltd.

     9,687        396,615  

Morinaga Milk Industry Co., Ltd.

     9,182        355,526  

Nippon Flour Mills Co., Ltd.

     20,083        313,835  

Nippon Suisan Kaisha Ltd.

     51,900        229,801  

Nisshin Oillio Group Ltd. (The)

     12,100        409,106  

Prima Meat Packers Ltd.

     20,100        456,721  

S Foods, Inc.

     5,800        120,132  

Sakata Seed Corp.

     6,300        191,413  

Showa Sangyo Co., Ltd.(a)

     11,800        350,868  

Warabeya Nichiyo Holdings Co., Ltd.

     8,000        129,906  
     

 

 

 
Total Food Products

 

     6,824,568  
Gas Utilities – 0.4%

 

Nippon Gas Co., Ltd.

     15,800        523,227  

Saibu Gas Co., Ltd.

     13,600        328,930  

Shizuoka Gas Co., Ltd.

     19,292        156,902  
     

 

 

 
Total Gas Utilities

 

     1,009,059  
Health Care Equipment & Supplies – 1.3%

 

Eiken Chemical Co., Ltd.

     12,070        220,369  

Hogy Medical Co., Ltd.

     6,100        190,139  

Jeol Ltd.

     5,900        144,118  

Mani, Inc.

     12,100        296,910  

Menicon Co., Ltd.

     4,100        183,248  

Nagaileben Co., Ltd.

     12,026        295,540  

Nakanishi, Inc.

     20,100        267,181  

Nihon Kohden Corp.

     12,100        455,060  

Nipro Corp.

     47,500        559,238  

Paramount Bed Holdings Co., Ltd.

     11,321        469,283  
     

 

 

 
Total Health Care Equipment & Supplies

 

     3,081,086  
Health Care Providers & Services – 1.4%

 

As One Corp.(a)

     4,100      361,558  

BML, Inc.

     8,000        215,349  

Japan Lifeline Co., Ltd.(a)

     17,100        215,740  

Miraca Holdings, Inc.(a)

     36,900        778,641  

NichiiGakkan Co., Ltd.

     21,500        205,929  

Ship Healthcare Holdings, Inc.

     12,307        504,455  

Solasto Corp.(a)

     27,700        257,615  

Toho Holdings Co., Ltd.

     11,800        247,794  

Tokai Corp.

     4,800        130,588  

Tsukui Corp.

     16,600        63,506  

Vital KSK Holdings, Inc.(a)

     20,200        205,265  

WIN-Partners Co., Ltd.

     15,300        138,891  
     

 

 

 
Total Health Care Providers & Services

 

     3,325,331  
Health Care Technology – 0.0%

 

EM Systems Co., Ltd.

     11,800        98,593  
Hotels, Restaurants & Leisure – 1.8%

 

Aeon Fantasy Co., Ltd.(a)

     4,700        63,389  

Create Restaurants Holdings, Inc.(a)

     23,800        139,112  

Doutor Nichires Holdings Co., Ltd.

     12,053        182,992  

Fuji Kyuko Co., Ltd.(a)

     3,801        98,128  

Hiday Hidaka Corp.

     12,098        170,451  

HIS Co., Ltd.(a)

     6,300        82,459  

Ichibanya Co., Ltd.

     8,136        337,257  

KOMEDA Holdings Co., Ltd.

     15,800        243,246  

Koshidaka Holdings Co., Ltd.

     9,500        32,296  

Kura Sushi, Inc.

     4,300        160,521  

Kyoritsu Maintenance Co., Ltd.

     4,100        90,541  

MOS Food Services, Inc.(a)

     7,600        176,422  

Ohsho Food Service Corp.

     5,000        267,704  

Plenus Co., Ltd.(a)

     19,768        337,661  

Renaissance, Inc.

     3,800        35,446  

Resorttrust, Inc.

     35,908        351,247  

Round One Corp.

     16,637        86,610  

Royal Holdings Co., Ltd.(a)

     4,600        74,952  

Saizeriya Co., Ltd.

     4,100        77,818  

SFP Holdings Co., Ltd.(a)

     4,100        52,563  

St. Marc Holdings Co., Ltd.

     11,800        189,316  

Sushiro Global Holdings Ltd.

     16,400        241,697  

Tokyo Dome Corp.

     27,700        185,770  

Tokyotokeiba Co., Ltd.

     5,642        146,074  

Tosho Co., Ltd.

     2,800        25,755  

Yoshinoya Holdings Co., Ltd.(a)

     7,700        148,429  

Zensho Holdings Co., Ltd.(a)

     14,800        282,551  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     4,280,407  
Household Durables – 4.2%

 

Casio Computer Co., Ltd.

     120,000        1,686,258  

Cleanup Corp.

     27,700        137,275  

ES-Con Japan Ltd.

     44,100        243,468  

FJ Next Co., Ltd.(a)

     16,200        122,751  

France Bed Holdings Co., Ltd.(a)

     3,600        30,446  

Fujitsu General Ltd.

     24,600        445,035  

Haseko Corp.

     289,400        3,101,624  

 

See Notes to Financial Statements.

 

76   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

Hinokiya Group Co., Ltd.(a)

     9,100      $ 123,576  

Hoosiers Holdings(a)

     38,000        210,143  

JVCKenwood Corp.

     51,900        93,747  

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

     12,100        126,318  

Nihon House Holdings Co., Ltd.

     43,900        119,149  

Pressance Corp.(a)

     20,100        177,438  

Sanei Architecture Planning Co., Ltd.(a)

     12,100        133,268  

Sangetsu Corp.

     23,400        347,895  

Space Value Holdings Co., Ltd.

     42,300        146,153  

Starts Corp., Inc.

     20,000        371,451  

Sumitomo Forestry Co., Ltd.

     76,600        982,733  

Tama Home Co., Ltd.

     18,900        213,764  

Tamron Co., Ltd.

     12,066        202,637  

Toa Corp.

     12,052        89,869  

Token Corp.

     5,900        436,673  

Zojirushi Corp.(a)

     25,300        347,083  
     

 

 

 
Total Household Durables

 

     9,888,754  
Household Products – 0.2%

 

Earth Corp.

     6,500        345,005  

ST Corp.

     3,400        50,423  
     

 

 

 
Total Household Products

 

     395,428  
Independent Power & Renewable Electricity Producers – 0.1%

 

eRex Co., Ltd.

     5,100        58,155  

West Holdings Corp.(a)

     13,390        173,894  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     232,049  
Industrial Conglomerates – 0.5%

 

Mie Kotsu Group Holdings, Inc.(a)

     27,700        130,603  

Nisshinbo Holdings, Inc.

     78,600        524,947  

TOKAI Holdings Corp.

     53,000        460,016  
     

 

 

 
Total Industrial Conglomerates

 

     1,115,566  
Interactive Media & Services – 0.5%

 

Dip Corp.

     22,400        360,625  

LIFULL Co., Ltd.(a)

     11,200        31,539  

Mixi, Inc.

     54,800        796,454  

MTI Ltd.

     19,200        97,107  
     

 

 

 
Total Interactive Media & Services

 

     1,285,725  
Internet & Direct Marketing Retail – 0.2%

 

ASKUL Corp.

     9,465        280,561  

Belluna Co., Ltd.

     26,384        117,556  
     

 

 

 
Total Internet & Direct Marketing Retail

 

     398,117  
IT Services – 1.9%

 

Comture Corp.(a)

     4,600        93,743  

Digital Garage, Inc.

     4,100        131,217  

DTS Corp.

     13,582        236,526  

Future Corp.

     12,100        156,581  

GMO Internet, Inc.

     25,372        426,803  

Ines Corp.

     7,300        91,558  

Infocom Corp.

     7,700        175,961  

Information Services International-Dentsu Ltd.

     8,700        316,312  

Itfor, Inc.

     8,100        42,468  

JBCC Holdings, Inc.

     7,300        113,265  

Kanematsu Electronics Ltd.

     12,100      381,085  

LAC Co., Ltd.

     4,100        28,522  

Mitsubishi Research Institute, Inc.

     3,800        115,807  

NEC Networks & System Integration Corp.

     19,979        814,299  

NET One Systems Co., Ltd.(a)

     15,758        328,137  

NS Solutions Corp.

     20,080        489,561  

NSD Co., Ltd.

     24,200        322,801  

TDC Soft, Inc.(a)

     7,600        55,968  

TechMatrix Corp.

     4,100        83,895  

Transcosmos, Inc.

     9,900        175,523  
     

 

 

 
Total IT Services

 

     4,580,032  
Leisure Products – 0.6%

 

Furyu Corp.

     13,100        99,990  

GLOBERIDE, Inc.

     4,100        71,058  

Heiwa Corp.(a)

     50,000        936,038  

Mizuno Corp.

     4,823        83,589  

Tomy Co., Ltd.

     25,800        182,109  
     

 

 

 
Total Leisure Products

 

     1,372,784  
Life Sciences Tools & Services – 0.0%

 

EPS Holdings, Inc.

     7,300        76,344  
Machinery – 6.3%

 

Aichi Corp.(a)

     27,700        175,763  

Aida Engineering Ltd.

     35,900        229,789  

Anest Iwata Corp.

     11,500        106,100  

Asahi Diamond Industrial Co., Ltd.

     15,500        66,477  

Bando Chemical Industries Ltd.

     20,093        117,072  

CKD Corp.

     21,341        292,573  

DMG Mori Co., Ltd.

     43,900        366,799  

Ebara Corp.

     24,400        464,923  

Fujitec Co., Ltd.

     31,961        411,817  

Furukawa Co., Ltd.

     21,000        206,197  

Giken Ltd.(a)

     4,500        147,353  

Glory Ltd.

     17,600        405,947  

Harmonic Drive Systems, Inc.(a)

     10,500        459,566  

Hirata Corp.

     4,300        183,424  

Hitachi Zosen Corp.

     75,900        244,669  

Hokuetsu Industries Co., Ltd.

     12,318        123,574  

Hosokawa Micron Corp.

     4,100        181,729  

Iwaki Co., Ltd.

     6,200        49,276  

Japan Steel Works Ltd. (The)

     28,004        339,301  

Juki Corp.

     16,200        82,684  

Kato Works Co., Ltd.

     12,300        134,673  

Kito Corp.

     9,400        86,812  

Kitz Corp.

     35,889        217,086  

Kurita Water Industries Ltd.

     26,700        617,819  

Kyokuto Kaihatsu Kogyo Co., Ltd.

     15,080        165,251  

Makino Milling Machine Co., Ltd.

     5,815        153,677  

Max Co., Ltd.

     20,100        310,004  

Meidensha Corp.

     12,100        181,800  

METAWATER Co., Ltd.

     5,800        207,651  

Mitsubishi Logisnext Co., Ltd.(a)

     12,800        103,628  

Mitsuboshi Belting Ltd.

     12,146        137,375  

Morita Holdings Corp.

     11,805        181,851  

 

See Notes to Financial Statements.

 

WisdomTree Trust      77  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  

Nabtesco Corp.

     35,900      $ 829,702  

Nachi-Fujikoshi Corp.

     7,300        197,520  

Nikkiso Co., Ltd.

     12,100        90,339  

Nippon Thompson Co., Ltd.

     27,700        94,681  

Nissei ASB Machine Co., Ltd.

     4,100        119,253  

Nissei Plastic Industrial Co., Ltd.(a)

     11,400        97,680  

Nitta Corp.

     10,100        197,874  

Nitto Kohki Co., Ltd.

     7,100        112,266  

Nittoku Co., Ltd.

     4,400        113,306  

Noritake Co., Ltd.

     4,100        130,647  

NTN Corp.

     300,300        525,744  

Obara Group, Inc.

     6,679        143,535  

Oiles Corp.(a)

     13,000        164,735  

OKUMA Corp.(a)

     8,870        286,341  

Organo Corp.

     4,100        208,124  

OSG Corp.

     23,500        314,988  

Pegasus Sewing Machine Manufacturing Co., Ltd.

     12,800        41,854  

Rheon Automatic Machinery Co., Ltd.

     4,100        45,309  

Ryobi Ltd.

     11,800        145,047  

Shibuya Corp.(a)

     6,400        150,700  

Shima Seiki Manufacturing Ltd.

     4,400        58,243  

Shinmaywa Industries Ltd.

     37,285        388,893  

Sodick Co., Ltd.(a)

     20,000        120,050  

Star Micronics Co., Ltd.

     17,134        173,157  

Tadano Ltd.(a)

     34,900        250,221  

Takeuchi Manufacturing Co., Ltd.

     12,100        151,089  

Takuma Co., Ltd.

     15,300        170,354  

THK Co., Ltd.

     52,000        1,065,481  

Tocalo Co., Ltd.

     27,700        261,464  

Torishima Pump Manufacturing Co., Ltd.

     11,800        83,509  

Toshiba Machine Co., Ltd.(a)

     12,061        239,756  

Tsubaki Nakashima Co., Ltd.

     21,400        134,004  

Tsubakimoto Chain Co.

     12,045        274,473  

Tsugami Corp.(a)

     20,000        139,688  

Union Tool Co.

     4,800        112,625  

YAMABIKO Corp.

     23,000        172,998  

Yushin Precision Equipment Co., Ltd.

     9,300        57,977  
     

 

 

 
Total Machinery

 

     15,016,287  
Marine – 0.5%

 

Iino Kaiun Kaisha Ltd.

     59,900        172,007  

Japan Transcity Corp.

     12,100        52,231  

Mitsui OSK Lines Ltd.

     27,700        448,260  

Nippon Yusen K.K.

     20,000        238,247  

NS United Kaiun Kaisha Ltd.

     16,800        215,846  
     

 

 

 
Total Marine

 

     1,126,591  
Media – 0.7%

 

AOI TYO Holdings, Inc.

     18,300        73,230  

F@N Communications, Inc.

     37,900        145,695  

Gakken Holdings Co., Ltd.

     8,000        136,798  

Intage Holdings, Inc.

     11,400        84,691  

SKY Perfect JSAT Holdings, Inc.

     188,500        670,502  

Tow Co., Ltd.(a)

     24,200        60,749  

Tv Tokyo Holdings Corp.(a)

     5,800        129,157  

ValueCommerce Co., Ltd.

     4,100      67,602  

Wowow, Inc.

     12,100        269,001  

Zenrin Co., Ltd.

     7,580        74,217  
     

 

 

 
Total Media

 

     1,711,642  
Metals & Mining – 1.8%

 

Asahi Holdings, Inc.

     28,000        586,948  

Daido Steel Co., Ltd.(a)

     17,400        560,900  

Daiki Aluminium Industry Co., Ltd.

     27,100        145,096  

Dowa Holdings Co., Ltd.

     20,100        526,728  

Godo Steel Ltd.

     9,700        188,869  

Hakudo Co., Ltd.(a)

     12,098        144,116  

Kyoei Steel Ltd.

     14,114        163,032  

Mitsui Mining & Smelting Co., Ltd.(a)

     19,500        326,400  

Nippon Light Metal Holdings Co., Ltd.

     300,100        469,797  

Nippon Yakin Kogyo Co., Ltd.(a)

     6,410        99,931  

Pacific Metals Co., Ltd.(a)

     7,500        109,073  

Sanyo Special Steel Co., Ltd.(a)

     20,000        179,334  

Toho Titanium Co., Ltd.

     12,100        72,518  

Tokyo Rope Manufacturing Co., Ltd.

     12,100        69,156  

Tokyo Steel Manufacturing Co., Ltd.

     36,000        225,427  

Topy Industries Ltd.

     12,100        154,227  

UACJ Corp.

     23,063        331,776  
     

 

 

 
Total Metals & Mining

 

     4,353,328  
Multiline Retail – 1.1%

 

H2O Retailing Corp.

     39,800        291,620  

Izumi Co., Ltd.

     18,200        502,394  

J. Front Retailing Co., Ltd.

     112,300        934,143  

Seria Co., Ltd.

     17,900        518,156  

Takashimaya Co., Ltd.

     47,400        427,217  
     

 

 

 
Total Multiline Retail

 

     2,673,530  
Oil, Gas & Consumable Fuels – 1.0%

 

Cosmo Energy Holdings Co., Ltd.

     44,000        619,925  

Fuji Oil Co., Ltd.

     81,200        142,159  

Itochu Enex Co., Ltd.

     67,781        529,917  

Iwatani Corp.(a)

     12,133        405,726  

Sala Corp.

     49,100        253,334  

San-Ai Oil Co., Ltd.

     28,016        292,993  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     2,244,054  
Paper & Forest Products – 0.4%

 

Daiken Corp.

     12,100        190,094  

Daio Paper Corp.(a)

     20,078        270,236  

Hokuetsu Corp.

     52,032        194,719  

Nippon Paper Industries Co., Ltd.(a)

     22,200        316,482  
     

 

 

 
Total Paper & Forest Products

 

     971,531  
Personal Products – 0.5%

 

Mandom Corp.

     12,906        247,588  

Milbon Co., Ltd.

     3,600        181,742  

Noevir Holdings Co., Ltd.

     14,900        761,873  
     

 

 

 
Total Personal Products

 

     1,191,203  

 

See Notes to Financial Statements.

 

78   WisdomTree Trust


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  
Pharmaceuticals – 1.9%

 

Fuji Pharma Co., Ltd.

     11,400      $ 128,092  

JCR Pharmaceuticals Co., Ltd.

     2,200        191,969  

Kaken Pharmaceutical Co., Ltd.

     17,900        834,023  

KYORIN Holdings, Inc.

     35,885        730,631  

Mochida Pharmaceutical Co., Ltd.

     11,422        441,200  

Nichi-iko Pharmaceutical Co., Ltd.

     20,200        267,013  

Sawai Pharmaceutical Co., Ltd.

     12,124        648,006  

Seikagaku Corp.

     20,100        210,021  

Torii Pharmaceutical Co., Ltd.

     7,700        192,509  

Towa Pharmaceutical Co., Ltd.

     9,100        191,095  

Tsumura & Co.

     20,000        509,842  

ZERIA Pharmaceutical Co., Ltd.(a)

     12,100        234,031  
     

 

 

 
Total Pharmaceuticals

 

     4,578,432  
Professional Services – 1.5%

 

Altech Corp.

     13,560        183,136  

BayCurrent Consulting, Inc.

     2,700        126,553  

Benefit One, Inc.(a)

     25,900        338,280  

BeNEXT Group, Inc.

     11,600        54,908  

en-japan, Inc.

     9,000        168,570  

FULLCAST Holdings Co., Ltd.

     9,300        106,478  

Funai Soken Holdings, Inc.

     9,410        187,145  

Gakujo Co., Ltd.

     3,100        37,215  

IR Japan Holdings Ltd.

     2,900        155,806  

JAC Recruitment Co., Ltd.

     12,100        113,877  

Link And Motivation, Inc.(a)

     12,400        35,148  

Meitec Corp.

     12,100        481,960  

Nisso Corp.(a)

     3,500        14,168  

Nomura Co., Ltd.

     27,700        210,402  

Outsourcing, Inc.

     20,100        87,509  

Quick Co., Ltd.

     2,800        25,522  

SMS Co., Ltd.

     4,100        79,490  

Space Co., Ltd.(a)

     16,000        161,697  

Tanseisha Co., Ltd.

     20,200        136,220  

TechnoPro Holdings, Inc.

     8,100        380,408  

UT Group Co., Ltd.*

     4,800        49,354  

World Holdings Co., Ltd.(a)

     7,300        83,106  

YAMADA Consulting Group Co., Ltd.(a)

     2,000        17,655  

Yumeshin Holdings Co., Ltd.(a)

     39,000        205,197  
     

 

 

 
Total Professional Services

 

     3,439,804  
Real Estate Management & Development – 2.6%

 

Daibiru Corp.

     32,700        270,190  

Dear Life Co., Ltd.

     38,500        138,372  

Goldcrest Co., Ltd.

     12,300        185,033  

Heiwa Real Estate Co., Ltd.

     12,068        312,893  

Ichigo, Inc.

     149,300        345,746  

Japan Property Management Center Co., Ltd.

     12,500        123,315  

Katitas Co., Ltd.(a)

     13,200        212,144  

Keihanshin Building Co., Ltd.

     21,500        266,074  

Kenedix, Inc.

     43,200        164,068  

Mugen Estate Co., Ltd.(a)

     23,900        92,983  

Open House Co., Ltd.

     35,400        729,610  

Raysum Co., Ltd.(a)

     27,700        169,348  

SAMTY Co., Ltd.

     23,500      261,873  

Shinoken Group Co., Ltd.(a)

     20,100        140,572  

Star Mica Holdings Co., Ltd.(a)

     6,200        84,482  

Sun Frontier Fudousan Co., Ltd.(a)

     24,500        186,096  

Takara Leben Co., Ltd.

     72,100        233,087  

TOC Co., Ltd.

     20,100        109,293  

Tokyo Tatemono Co., Ltd.

     86,600        920,107  

Tosei Corp.

     20,100        173,342  

Unizo Holdings Co., Ltd.

     20,500        1,133,667  
     

 

 

 
Total Real Estate Management & Development

 

     6,252,295  
Road & Rail – 1.5%

 

Fukuyama Transporting Co., Ltd.

     11,011        394,215  

Hamakyorex Co., Ltd.

     4,100        99,960  

Ichinen Holdings Co., Ltd.(a)

     13,200        140,370  

Maruzen Showa Unyu Co., Ltd.

     4,900        108,435  

Nankai Electric Railway Co., Ltd.

     12,400        282,562  

Nikkon Holdings Co., Ltd.

     20,060        393,377  

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

     12,100        297,807  

Sakai Moving Service Co., Ltd.(a)

     4,100        217,998  

Seino Holdings Co., Ltd.

     51,900        563,927  

Senko Group Holdings Co., Ltd.

     57,056        442,897  

Sotetsu Holdings, Inc.(a)

     20,100        516,301  
     

 

 

 
Total Road & Rail

 

     3,457,849  
Semiconductors & Semiconductor Equipment – 1.7%

 

Ferrotec Holdings Corp.

     21,900        112,183  

Japan Material Co., Ltd.

     12,100        159,047  

Lasertec Corp.

     11,600        543,708  

Micronics Japan Co., Ltd.(a)

     11,800        85,367  

Mimasu Semiconductor Industry Co., Ltd.

     8,427        138,089  

Optorun Co., Ltd.

     13,500        321,634  

Sanken Electric Co., Ltd.

     4,100        79,869  

SCREEN Holdings Co., Ltd.(a)

     15,800        585,429  

Shibaura Mechatronics Corp.

     4,100        90,503  

Shindengen Electric Manufacturing Co., Ltd.

     4,100        88,453  

Shinko Electric Industries Co., Ltd.

     44,053        422,759  

Tokyo Seimitsu Co., Ltd.

     27,700        790,292  

Ulvac, Inc.

     20,100        482,229  

Yamaichi Electronics Co., Ltd.

     16,300        209,270  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     4,108,832  
Software – 0.5%

 

Broadleaf Co., Ltd.

     26,700        116,243  

Computer Engineering & Consulting Ltd.

     6,100        77,412  

Digital Arts, Inc.(a)

     1,100        47,584  

Fuji Soft, Inc.

     3,300        106,225  

Fukui Computer Holdings, Inc.

     4,100        82,566  

Infomart Corp.

     22,000        144,894  

Miroku Jyoho Service Co., Ltd.(a)

     4,100        90,427  

SRA Holdings

     12,100        239,523  

Systena Corp.

     14,100        191,474  

UNITED, Inc.

     11,800        87,772  
     

 

 

 
Total Software

 

     1,184,120  

 

See Notes to Financial Statements.

 

WisdomTree Trust      79  


Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  
Specialty Retail – 4.2%

 

Adastria Co., Ltd.

     11,300      $ 128,120  

Alpen Co., Ltd.

     18,600        276,532  

AOKI Holdings, Inc.

     60,154        404,537  

Aoyama Trading Co., Ltd.(a)

     32,900        282,814  

Arcland Sakamoto Co., Ltd.

     12,116        109,426  

Autobacs Seven Co., Ltd.

     36,000        415,506  

Bic Camera, Inc.

     57,600        466,861  

Chiyoda Co., Ltd.

     22,991        247,895  

DCM Holdings Co., Ltd.(a)

     52,045        480,653  

EDION Corp.(a)

     44,039        364,289  

Geo Holdings Corp.

     14,200        172,050  

Honeys Holdings Co., Ltd.

     10,000        100,412  

IDOM, Inc.

     56,960        207,358  

JINS Holdings, Inc.

     4,100        225,214  

Joshin Denki Co., Ltd.

     10,400        200,187  

Joyful Honda Co., Ltd.

     28,000        323,172  

K’s Holdings Corp.

     94,196        892,617  

Kohnan Shoji Co., Ltd.

     10,900        220,918  

Komeri Co., Ltd.

     12,037        215,864  

LIXIL VIVA Corp.

     24,900        423,476  

Nishimatsuya Chain Co., Ltd.

     26,400        182,432  

Nojima Corp.

     12,100        199,845  

PAL GROUP Holdings Co., Ltd.

     16,400        199,768  

PC Depot Corp.(a)

     17,400        69,146  

Sac’s Bar Holdings, Inc.

     20,800        118,109  

Sanrio Co., Ltd.(a)

     16,442        218,861  

Shimachu Co., Ltd.(a)

     20,064        494,747  

Shimamura Co., Ltd.

     12,100        730,786  

T-Gaia Corp.

     40,200        762,629  

United Arrows Ltd.

     8,429        126,878  

VT Holdings Co., Ltd.

     80,800        219,299  

World Co., Ltd.

     11,800        164,722  

Xebio Holdings Co., Ltd.

     20,000        165,254  

Yellow Hat Ltd.

     19,100        265,919  
     

 

 

 
Total Specialty Retail

 

     10,076,296  
Technology Hardware, Storage & Peripherals – 0.7%

 

Elecom Co., Ltd.

     12,100        421,995  

Maxell Holdings Ltd.(a)

     13,800        136,012  

MCJ Co., Ltd.(a)

     39,300        217,696  

Riso Kagaku Corp.

     17,700        267,742  

Roland DG Corp.

     4,100        44,246  

Toshiba TEC Corp.

     11,500        362,188  

Wacom Co., Ltd.

     40,811        120,216  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     1,570,095  
Textiles, Apparel & Luxury Goods – 1.6%

 

Asics Corp.

     51,900        480,275  

Baroque Japan Ltd.(a)

     27,000        156,815  

Descente Ltd.(a)

     13,153        154,734  

Fujibo Holdings, Inc.

     6,000        160,289  

Goldwin, Inc.(a)

     3,700        206,327  

Gunze Ltd.

     6,783        228,079  

Japan Wool Textile Co., Ltd. (The)

     36,025        313,014  

Kurabo Industries Ltd.(a)

     12,076      289,609  

Morito Co., Ltd.(a)

     12,100        82,606  

Onward Holdings Co., Ltd.

     84,433        371,504  

Seiko Holdings Corp.(a)

     20,100        324,713  

Seiren Co., Ltd.

     20,011        240,974  

Wacoal Holdings Corp.

     28,000        608,735  

Yondoshi Holdings, Inc.(a)

     12,100        217,779  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     3,835,453  
Thrifts & Mortgage Finance – 0.1%

 

Aruhi Corp.(a)

     12,100        137,303  
Trading Companies & Distributors – 2.4%

 

Advan Co., Ltd.

     20,100        202,759  

Alconix Corp.

     12,100        120,938  

Gecoss Corp.

     28,000        203,344  

Hanwa Co., Ltd.

     28,322        441,273  

Inaba Denki Sangyo Co., Ltd.

     22,588        481,660  

Inabata & Co., Ltd.

     28,041        306,502  

Kamei Corp.

     12,800        120,346  

Kanaden Corp.

     12,100        140,329  

Kanamoto Co., Ltd.

     12,028        234,310  

Kanematsu Corp.

     49,100        504,394  

Kokusai Pulp & Paper Co., Ltd.(a)

     26,700        63,068  

Nagase & Co., Ltd.

     36,004        426,558  

Nichiden Corp.

     12,100        238,178  

Nippon Steel Trading Corp.

     20,100        679,589  

Nishio Rent All Co., Ltd.

     8,500        178,496  

Onoken Co., Ltd.(a)

     13,200        138,780  

Sanyo Trading Co., Ltd.

     16,800        128,542  

Trusco Nakayama Corp.

     12,100        262,500  

Wakita & Co., Ltd.

     20,100        183,954  

Yamazen Corp.

     42,606        355,593  

Yuasa Trading Co., Ltd.

     12,200        322,983  
     

 

 

 
Total Trading Companies & Distributors

 

     5,734,096  
Transportation Infrastructure – 0.5%

 

Japan Airport Terminal Co., Ltd.(a)

     9,200        355,796  

Kamigumi Co., Ltd.

     28,000        474,124  

Mitsubishi Logistics Corp.(a)

     15,400        311,267  
     

 

 

 
Total Transportation Infrastructure

 

     1,141,187  
TOTAL COMMON STOCKS
(Cost: $304,762,196)

 

     231,479,149  
EXCHANGE-TRADED FUND – 1.0%

 

United States – 1.0%

 

WisdomTree Japan Hedged Equity Fund(a)(b)

     
(Cost: $2,500,096)      54,925        2,315,089  

 

See Notes to Financial Statements.

 

80   WisdomTree Trust


Table of Contents

Schedule of Investments (concluded)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2020

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.7%

 

United States – 5.7%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 0.24%(c)

 

  
(Cost: $13,572,759)      13,572,759      $ 13,572,759  
TOTAL INVESTMENTS IN SECURITIES – 104.2%
(Cost: $320,835,051)

 

     247,366,997  

Other Assets less Liabilities – (4.2)%

 

     (9,863,666
     

 

 

 
NET ASSETS – 100.0%

 

   $ 237,503,331  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2020 (See Note 2). At March 31, 2020, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $26,761,891 and the total market value of the collateral held by the Fund was $28,347,889. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $14,775,130.

 

(b) 

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

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2020.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2020 were as follows:

 

Affiliate   Value at
3/31/2019
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2020
    Dividend
Income
 

WisdomTree Japan Hedged Equity Fund

  $ 34,314     $ 11,122,688     $ 8,574,665     $ (82,148   $ (185,100   $ 2,315,089     $ 95,738  

 

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

Societe Generale

    4/2/2020       138,876       USD       15,000,000       JPY     $     $ (71

 

See Notes to Financial Statements.

 

WisdomTree Trust      81  


Table of Contents

Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2020

 

 

 

     

WisdomTree

Europe Quality

Dividend

Growth Fund

    

WisdomTree

Europe

SmallCap

Dividend Fund

    

WisdomTree

International

Dividend

ex-Financials

Fund

    

WisdomTree

International

Equity Fund

    

WisdomTree

International

High Dividend

Fund

 

ASSETS:

              

Investments, at cost

   $ 30,180,761      $ 494,450,184      $ 149,889,265      $ 710,024,563      $ 249,359,687  

Investment in affiliates, at cost (Note 3)

            4,180,950        1,359,781        456,750        81,250  

Foreign currency, at cost

     23,508        565,024        205,563        879,846        340,996  

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

     25,581,753        334,116,617        105,399,155        596,383,752        181,391,728  

Investment in affiliates, at value (Note 3)

            4,217,400        1,294,914        510,748        94,319  

Cash

     2,093        151,769        41,080        35,967        109,641  

Foreign currency, at value

     23,394        578,512        205,377        878,482        339,769  

Unrealized appreciation on foreign currency contracts

     78        11,175        151        553        48  

Receivables:

 

Investment securities sold

     449,415        11,325,922        11,501,323        5,114,494        1,769,299  

Capital shares sold

     10                              

Dividends

     90,595        603,072        580,062        2,883,070        898,430  

Securities lending income

     513        66,131        1,341        11,705        3,366  

Foreign tax reclaims

     186,708        1,102,305        324,125        1,884,674        694,099  

Total Assets

     26,334,559        352,172,903        119,347,528        607,703,445        185,300,699  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

     51        5,704        24,892        5,898        3,546  

Payables:

              

Cash collateral received for securities loaned (Note 2)

     440,298        21,783,808        1,528,478        20,706,466        8,867,431  

Investment securities purchased

     428,230        9,957,000        2,219,650        5,830,650        2,109,839  

Capital shares redeemed

                   9,452,240                

Due to broker

            10,743                       

Advisory fees (Note 3)

     15,395        183,380        60,651        248,439        83,491  

Service fees (Note 2)

     115        1,387        445        2,272        629  

Total Liabilities

     884,089        31,942,022        13,286,356        26,793,725        11,064,936  

NET ASSETS

   $ 25,450,470      $ 320,230,881      $ 106,061,172      $ 580,909,720      $ 174,235,763  

NET ASSETS:

              

Paid-in capital

   $ 36,919,788      $ 710,093,261      $ 179,977,315      $ 775,192,138      $ 281,409,506  

Total distributable earnings (loss)

     (11,469,318      (389,862,380      (73,916,143      (194,282,418      (107,173,743

NET ASSETS

   $ 25,450,470      $ 320,230,881      $ 106,061,172      $ 580,909,720      $ 174,235,763  

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

     1,150,000        7,800,000        3,350,000        14,650,000        5,900,000  

Net asset value per share

   $ 22.13      $ 41.06      $ 31.66      $ 39.65      $ 29.53  

1 Includes market value of securities out on loan of:

   $ 741,357      $ 28,239,204      $ 5,427,915      $ 37,636,396      $ 14,170,276  

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

  

 

See Notes to Financial Statements.

 

82   WisdomTree Trust


Table of Contents

Statements of Assets and Liabilities (continued)

WisdomTree Trust

March 31, 2020

 

 

 

     

WisdomTree

International

LargeCap

Dividend Fund

    

WisdomTree

International

MidCap

Dividend Fund

    

WisdomTree

International

Multifactor

Fund

    

WisdomTree

International

Quality

Dividend

Growth Fund

    

WisdomTree

International

SmallCap

Dividend Fund

 

ASSETS:

              

Investments, at cost

   $ 406,685,385      $ 221,741,760      $ 34,543,683      $ 80,559,159      $ 1,556,615,079  

Investment in affiliates, at cost (Note 3)

     936,345                             2,404,597  

Foreign currency, at cost

     841,661        91,871        17,717        51,709        4,365,863  

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

     334,175,659        178,687,255        32,150,088        70,538,703        1,206,769,498  

Investment in affiliates, at value (Note 3)

     727,876                             2,479,101  

Cash

     87,381        96,809        5,945        127        237,235  

Foreign currency, at value

     842,190        91,932        17,661        51,449        4,366,833  

Unrealized appreciation on foreign currency contracts

     37        586        843,862               4,300  

Receivables:

 

Investment securities sold

     2,115,290        1,814,004               5,483,316        20,097,921  

Capital shares sold

            40        6,248,777               567  

Dividends

     1,580,919        857,511        142,360        384,051        8,114,073  

Securities lending income

     3,335        5,542               1,798        138,527  

Foreign tax reclaims

     1,179,225        187,522        27,534        103,264        1,216,772  

Total Assets

     340,711,912        181,741,201        39,436,227        76,562,708        1,243,424,827  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

     5,836        6,438        45,771               28,187  

Payables:

              

Cash collateral received for securities loaned (Note 2)

     10,238,938        10,267,995               2,238,011        58,895,992  

Investment securities purchased

     2,706,224        1,962,923        5,973,798        570,172        22,440,830  

Capital shares redeemed

                          5,174,923         

Due to broker

                                 7  

Advisory fees (Note 3)

     137,912        90,173        8,834        27,964        615,896  

Service fees (Note 2)

     1,239        685        102        323        4,579  

Total Liabilities

     13,090,149        12,328,214        6,028,505        8,011,393        81,985,491  

NET ASSETS

   $ 327,621,763      $ 169,412,987      $ 33,407,722      $ 68,551,315      $ 1,161,439,336  

NET ASSETS:

              

Paid-in capital

   $ 447,370,578      $ 234,216,356      $ 38,905,373      $ 83,434,509      $ 1,625,354,216  

Total distributable earnings (loss)

     (119,748,815      (64,803,369      (5,497,651      (14,883,194      (463,914,880

NET ASSETS

   $ 327,621,763      $ 169,412,987      $ 33,407,722      $ 68,551,315      $ 1,161,439,336  

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

     8,900,000        3,600,000        1,600,000        2,650,000        24,050,000  

Net asset value per share

   $ 36.81      $ 47.06      $ 20.88      $ 25.87      $ 48.29  

1 Includes market value of securities out on loan of:

   $ 16,348,682      $ 18,056,833             $ 2,830,288      $ 115,316,548  

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

  

 

See Notes to Financial Statements.

 

WisdomTree Trust      83  


Table of Contents

Statements of Assets and Liabilities (concluded)

WisdomTree Trust

March 31, 2020

 

 

 

     

WisdomTree

Japan

SmallCap

Dividend Fund

 

ASSETS:

 

Investments, at cost

   $ 318,334,955  

Investment in affiliates, at cost (Note 3)

     2,500,096  

Foreign currency, at cost

     173,373  

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

     245,051,908  

Investment in affiliates, at value (Note 3)

     2,315,089  

Cash

     12,161  

Foreign currency, at value

     173,582  

Receivables:

 

Investment securities sold

     46,520  

Dividends

     3,575,823  

Securities lending income

     14,755  

Total Assets

     251,189,838  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

     71  

Payables:

  

Cash collateral received for securities loaned (Note 2)

     13,572,759  

Advisory fees (Note 3)

     112,824  

Service fees (Note 2)

     853  

Total Liabilities

     13,686,507  

NET ASSETS

   $ 237,503,331  

NET ASSETS:

 

Paid-in capital

   $ 403,280,752  

Total distributable earnings (loss)

     (165,777,421

NET ASSETS

   $ 237,503,331  

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

     4,050,000  

Net asset value per share

   $ 58.64  

1 Includes market value of securities out on loan of:

   $ 26,761,891  

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

  

 

See Notes to Financial Statements.

 

84   WisdomTree Trust


Table of Contents

Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

     

WisdomTree

Europe Quality

Dividend

Growth Fund

    

WisdomTree

Europe

SmallCap

Dividend Fund

    

WisdomTree

International

Dividend

ex-Financials

Fund

    

WisdomTree

International

Equity Fund

    

WisdomTree

International

High Dividend

Fund

 

INVESTMENT INCOME:

              

Dividends1

   $ 1,157,972      $ 23,841,754      $ 6,905,800      $ 29,388,142      $ 10,381,235  

Dividends from affiliates (Note 3)

            153,386        107,669        135,984        63,732  

Interest

            158                      1,581  

Non-cash dividends

     18,147        1,124,063        415,038        1,064,345        380,938  

Securities lending income (Note 2)

     11,155        1,181,818        93,712        324,332        122,603  

Total investment income

     1,187,274        26,301,179        7,522,219        30,912,803        10,950,089  

EXPENSES:

 

Advisory fees (Note 3)

     229,135        3,220,079        918,864        3,856,480        1,332,186  

Service fees (Note 2)

     1,737        24,428        6,970        35,351        10,106  

Total expenses

     230,872        3,244,507        925,834        3,891,831        1,342,292  

Expense waivers (Note 3)

            (3,688      (3,008      (1,535      (963

Net expenses

     230,872        3,240,819        922,826        3,890,296        1,341,329  

Net investment income

     956,402        23,060,360        6,599,393        27,022,507        9,608,760  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

              

Investment transactions

     (1,250,779      (82,319,239      (4,790,853      (26,198,088      (4,134,333

Investment transactions in affiliates (Note 3)

            (346,879      27,059        160,005        4,858  

In-kind redemptions

     (1,495,464      369,474        509,547        15,983,409        4,090,788  

Futures contracts

            (544,533                     

Foreign currency contracts

     (25,065      (285,502      (121,307      (108,785      (89,132

Foreign currency related transactions

     18,328        422,648        70,634        (8,771      61,149  

Net realized loss

     (2,752,980      (82,704,031      (4,304,920      (10,172,230      (66,670

Net increase (decrease) in unrealized appreciation/depreciation:

              

Investment transactions

     (3,334,282      (61,924,777      (30,468,321      (153,707,089      (55,893,879

Investment transactions in affiliates (Note 3)

            12,506        (64,867      53,867        10,896  

Foreign currency contracts

     27        2,927        (24,551      (5,345      (3,596

Translation of assets and liabilities denominated in foreign currencies

     2,796        41,286        28,981        53,628        24,543  

Net decrease in unrealized appreciation/depreciation

     (3,331,459      (61,868,058      (30,528,758      (153,604,939      (55,862,036

Net realized and unrealized loss on investments

     (6,084,439      (144,572,089      (34,833,678      (163,777,169      (55,928,706

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (5,128,037    $ (121,511,729    $ (28,234,285    $ (136,754,662    $ (46,319,946

1 Net of foreign withholding tax of:

   $ 116,342      $ 2,595,986      $ 659,037      $ 2,886,511      $ 980,349  

 

See Notes to Financial Statements.

 

WisdomTree Trust      85  


Table of Contents

Statements of Operations (continued)

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

     

WisdomTree

International

LargeCap

Dividend Fund

    

WisdomTree

International

MidCap

Dividend Fund

    

WisdomTree

International

Multifactor

Fund

    

WisdomTree

International

Quality

Dividend

Growth Fund

    

WisdomTree

International

SmallCap

Dividend Fund

 

INVESTMENT INCOME:

              

Dividends1

   $ 14,717,125      $ 9,314,790      $ 880,866      $ 2,614,335      $ 64,195,472  

Dividends from affiliates (Note 3)

     80,075               967               394,432  

Interest

                                 6,403  

Non-cash dividends

     429,920        561,728        28,924        11,689        1,303,036  

Securities lending income (Note 2)

     137,693        128,815               26,490        1,970,166  

Total investment income

     15,364,813        10,005,333        910,757        2,652,514        67,869,509  

EXPENSES:

 

Advisory fees (Note 3)

     1,906,660        1,495,709        101,020        461,257        9,348,316  

Service fees (Note 2)

     17,478        11,347        1,170        4,228        70,918  

Total expenses

     1,924,138        1,507,056        102,190        465,485        9,419,234  

Expense waivers (Note 3)

     (4,269             (11      (96,095      (24,028

Net expenses

     1,919,869        1,507,056        102,179        369,390        9,395,206  

Net investment income

     13,444,944        8,498,277        808,578        2,283,124        58,474,303  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

              

Investment transactions2

     (6,136,170      (11,882,321      (3,775,533      (2,886,535      (54,681,765

Investment transactions in affiliates (Note 3)

     91,024               (1,847             (186,463

In-kind redemptions

            12,011,418        1,048,183        (2,287,546      74,191,283  

Futures contracts

                                 (656,168

Foreign currency contracts

     (47,831      (38,596      (150,035      (30,640      (205,844

Foreign currency related transactions

     1,714        (30,259      (6,178      27,889        (188,666

Net realized gain (loss)

     (6,091,263      60,242        (2,885,410      (5,176,832      18,272,377  

Net increase (decrease) in unrealized appreciation/depreciation:

              

Investment transactions

     (77,223,427      (55,876,724      (3,143,291      (8,365,640      (435,356,969

Investment transactions in affiliates (Note 3)

     (208,745                           590,869  

Foreign currency contracts

     (5,646      (5,852      816,533        (83      (23,887

Translation of assets and liabilities denominated in foreign currencies

     45,818        7,517        (2,312      (4,369      28,518  

Net decrease in unrealized appreciation/depreciation

     (77,392,000      (55,875,059      (2,329,070      (8,370,092      (434,761,469

Net realized and unrealized loss on investments

     (83,483,263      (55,814,817      (5,214,480      (13,546,924      (416,489,092

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (70,038,319    $ (47,316,540    $ (4,405,902    $ (11,263,800    $ (358,014,789

1 Net of foreign withholding tax of:

   $ 1,689,826      $ 848,987      $ 88,073      $ 248,317      $ 6,072,660  

2 Net of foreign capital gains tax of:

                               $ 71,559  

 

See Notes to Financial Statements.

 

86   WisdomTree Trust


Table of Contents

Statements of Operations (concluded)

WisdomTree Trust

For the Year Ended March 31, 2020

 

 

 

     

WisdomTree

Japan

SmallCap

Dividend Fund

 

INVESTMENT INCOME:

 

Dividends1

   $ 9,655,806  

Dividends from affiliates (Note 3)

     95,738  

Securities lending income (Note 2)

     379,682  

Total investment income

     10,131,226  

EXPENSES:

 

Advisory fees (Note 3)

     2,606,639  

Service fees (Note 2)

     19,774  

Total expenses

     2,626,413  

Expense waivers (Note 3)

     (1,031

Net expenses

     2,625,382  

Net investment income

     7,505,844  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized loss from:

 

Investment transactions

     (24,675,175

Investment transactions in affiliates (Note 3)

     (82,148

In-kind redemptions

     (2,465,207

Foreign currency contracts

     (36,102

Foreign currency related transactions

     191,368  

Net realized loss

     (27,067,264

Net increase (decrease) in unrealized appreciation/depreciation:

 

Investment transactions

     (4,201,856

Investment transactions in affiliates (Note 3)

     (185,100

Foreign currency contracts

     364  

Translation of assets and liabilities denominated in foreign currencies

     34,334  

Net decrease in unrealized appreciation/depreciation

     (4,352,258

Net realized and unrealized loss on investments

     (31,419,522

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (23,913,678

1 Net of foreign withholding tax of:

   $ 1,049,958  

 

See Notes to Financial Statements.

 

WisdomTree Trust      87  


Table of Contents

Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

    

WisdomTree

Europe Quality Dividend Growth Fund

   

WisdomTree

Europe SmallCap Dividend Fund

   

WisdomTree

International Dividend ex-Financials Fund

 
    

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 956,402     $ 1,480,281     $ 23,060,360     $ 37,866,541     $ 6,599,393     $ 7,688,540  

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

    (2,752,980     (1,580,345     (82,704,031     33,781,414       (4,304,920     (336,824

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

    (3,331,459     (3,643,394     (61,868,058     (207,722,070     (30,528,758     (8,142,019

Net decrease in net assets resulting from operations

    (5,128,037     (3,743,458     (121,511,729     (136,074,115     (28,234,285     (790,303

DISTRIBUTIONS TO SHAREHOLDERS:

 

   

Distributable earnings

    (908,753     (1,768,215     (24,025,680     (42,589,672     (6,679,985     (7,765,680

CAPITAL SHARE TRANSACTIONS:

           

Net proceeds from sale of shares

    5,344,762       14,416,259             81,706,516             7,858,668  

Cost of shares redeemed

    (15,199,143     (39,726,421     (201,633,798     (459,722,935     (38,213,511     (18,759,740

Net decrease in net assets resulting from capital share transactions

    (9,854,381     (25,310,162     (201,633,798     (378,016,419     (38,213,511     (10,901,072

Net Decrease in Net Assets

    (15,891,171     (30,821,835     (347,171,207     (556,680,206     (73,127,781     (19,457,055

NET ASSETS:

           

Beginning of year

  $ 41,341,641     $ 72,163,476     $ 667,402,088     $ 1,224,082,294     $ 179,188,953     $ 198,646,008  

End of year

  $ 25,450,470     $ 41,341,641     $ 320,230,881     $ 667,402,088     $ 106,061,172     $ 179,188,953  

SHARES CREATED AND REDEEMED:

           

Shares outstanding, beginning of year

    1,650,000       2,750,000       11,400,000       17,600,000       4,350,000       4,600,000  

Shares created

    200,000       550,000             1,200,000             200,000  

Shares redeemed

    (700,000     (1,650,000     (3,600,000     (7,400,000     (1,000,000     (450,000

Shares outstanding, end of year

    1,150,000       1,650,000       7,800,000       11,400,000       3,350,000       4,350,000  

 

See Notes to Financial Statements.

 

88   WisdomTree Trust


Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

    

WisdomTree

International Equity Fund

   

WisdomTree

International High Dividend Fund

   

WisdomTree

International LargeCap Dividend Fund

 
    

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended
March 31, 2020

   

For the

Year Ended

March 31, 2019

 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 27,022,507     $ 31,251,400     $ 9,608,760     $ 12,762,487     $ 13,444,944     $ 15,722,519  

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

    (10,172,230     3,549,617       (66,670     2,668,387       (6,091,263     6,604,486  

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

    (153,604,939     (68,985,995     (55,862,036     (25,495,401     (77,392,000     (32,848,453

Net decrease in net assets resulting from operations

    (136,754,662     (34,184,978     (46,319,946     (10,064,527     (70,038,319     (10,521,448

DISTRIBUTIONS TO SHAREHOLDERS:

 

   

Distributable earnings

    (28,034,655     (32,159,951     (9,965,602     (13,212,551     (13,724,833     (16,024,315

CAPITAL SHARE TRANSACTIONS:

           

Net proceeds from sale of shares

          69,968,919       21,726,099             21,874,879       18,707,671  

Cost of shares redeemed

    (91,561,113     (81,357,277     (43,056,963     (60,050,662           (45,511,991

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

    (91,561,113     (11,388,358     (21,330,864     (60,050,662     21,874,879       (26,804,320

Net Decrease in Net Assets

    (256,350,430     (77,733,287     (77,616,412     (83,327,740     (61,888,273     (53,350,083

NET ASSETS:

           

Beginning of year

  $ 837,260,150     $ 914,993,437     $ 251,852,175     $ 335,179,915     $ 389,510,036     $ 442,860,119  

End of year

  $ 580,909,720     $ 837,260,150     $ 174,235,763     $ 251,852,175     $ 327,621,763     $ 389,510,036  

SHARES CREATED AND REDEEMED:

           

Shares outstanding, beginning of year

    16,550,000       16,750,000       6,250,000       7,750,000       8,400,000       8,950,000  

Shares created

          1,350,000       800,000             500,000       400,000  

Shares redeemed

    (1,900,000     (1,550,000     (1,150,000     (1,500,000           (950,000

Shares outstanding, end of year

    14,650,000       16,550,000       5,900,000       6,250,000       8,900,000       8,400,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      89  


Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

    

WisdomTree

International MidCap Dividend Fund

   

WisdomTree

International Multifactor Fund

   

WisdomTree

International Quality Dividend Growth Fund

 
    

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the Period
August 10, 2018*

through

March 31, 2019

   

For the

Year Ended

March 31, 2020

   

For the

Year Ended

March 31, 2019

 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 8,498,277     $ 8,525,321     $ 808,578     $ 165,997     $ 2,283,124     $ 1,213,592  

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

    60,242       2,037,502       (2,885,410     146,658       (5,176,832     (1,052,972

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

    (55,875,059     (29,417,166     (2,329,070     731,111       (8,370,092     (3,675,941

Net increase (decrease) in net assets resulting from operations

    (47,316,540     (18,854,343     (4,405,902     1,043,766       (11,263,800     (3,515,321

DISTRIBUTIONS TO SHAREHOLDERS:

 

   

Distributable earnings

    (8,835,126     (8,622,448     (754,345     (62,055     (2,162,870     (1,130,824

CAPITAL SHARE TRANSACTIONS:

           

Net proceeds from sale of shares

    9,411,800       64,964,241       26,327,511       21,263,942       39,944,080       61,114,211  

Cost of shares redeemed

    (62,770,774     (44,652,606     (7,537,669     (2,467,626     (29,507,185     (9,323,029

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

    (53,358,974     20,311,635       18,789,842       18,796,316       10,436,895       51,791,182  

Net Increase (Decrease) in Net Assets

    (109,510,640     (7,165,156     13,629,595       19,778,027       (2,989,775     47,145,037  

NET ASSETS:

           

Beginning of period

  $ 278,923,627     $ 286,088,783     $ 19,778,127     $ 100     $ 71,541,090     $ 24,396,053  

End of period

  $ 169,412,987     $ 278,923,627     $ 33,407,722     $ 19,778,127     $ 68,551,315     $ 71,541,090  

SHARES CREATED AND REDEEMED:

           

Shares outstanding, beginning of period

    4,500,000       4,200,000       800,004       4       2,500,000       800,000  

Shares created

    150,000       1,000,000       1,100,000       900,000       1,350,000       2,050,000  

Shares redeemed

    (1,050,000     (700,000     (300,004     (100,000     (1,200,000     (350,000

Shares outstanding, end of period

    3,600,000       4,500,000       1,600,000       800,004       2,650,000       2,500,000  
*

Commencement of operations.

 

See Notes to Financial Statements.

 

90   WisdomTree Trust


Table of Contents

Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

     

WisdomTree

International SmallCap Dividend Fund

    

WisdomTree

Japan SmallCap Dividend Fund

 
     

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

    

For the

Year Ended

March 31, 2020

    

For the

Year Ended

March 31, 2019

 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

        

Net investment income

   $ 58,474,303      $ 56,295,397      $ 7,505,844      $ 13,076,547  

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

     18,272,377        43,532,681        (27,067,264      38,513,726  

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

     (434,761,469      (300,059,749      (4,352,258      (220,496,107

Net decrease in net assets resulting from operations

     (358,014,789      (200,231,671      (23,913,678      (168,905,834

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (61,380,468      (57,938,955      (11,877,835      (16,060,084

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     135,911,833        163,769,847        8,947,474        302,236,796  

Cost of shares redeemed

     (228,172,175      (172,971,405      (351,946,162      (601,568,699

Net decrease in net assets resulting from capital share transactions

     (92,260,342      (9,201,558      (342,998,688      (299,331,903

Net Decrease in Net Assets

     (511,655,599      (267,372,184      (378,790,201      (484,297,821

NET ASSETS:

           

Beginning of year

   $ 1,673,094,935      $ 1,940,467,119      $ 616,293,532      $ 1,100,591,353  

End of year

   $ 1,161,439,336      $ 1,673,094,935      $ 237,503,331      $ 616,293,532  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     25,450,000        25,600,000        9,050,000        13,600,000  

Shares created

     2,100,000        2,300,000        150,000        3,950,000  

Shares redeemed

     (3,500,000      (2,450,000      (5,150,000      (8,500,000

Shares outstanding, end of year

     24,050,000        25,450,000        4,050,000        9,050,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      91  


Table of Contents

Financial Highlights

WisdomTree Trust

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

 

 

WisdomTree Europe Quality Dividend
Growth Fund
   For the
Year Ended
March 31, 2020
   

For the

Period Ended
March 31, 2019

   

For the

Period Ended
March 31, 2018

     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 25.06     $ 26.24     $ 23.17      $ 22.32      $ 23.18  

Investment operations:

            

Net investment income1

     0.62       0.61       0.53        0.48        0.48  

Net realized and unrealized gain (loss)

     (2.93     (1.05     2.94        0.88        (0.89

Total from investment operations

     (2.31     (0.44     3.47        1.36        (0.41

Dividends to shareholders:

            

Net investment income

     (0.62     (0.74     (0.40      (0.51      (0.45

Net asset value, end of year

   $ 22.13     $ 25.06     $ 26.24      $ 23.17      $ 22.32  

TOTAL RETURN2

     (9.46 )%      (1.62 )%      15.03      6.24      (1.83 )% 

RATIOS/SUPPLEMENTAL DATA:

            

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

   $ 25,450     $ 41,342     $ 72,163      $ 17,377      $ 17,854  

Ratios to average net assets of:

            

Expenses

     0.58     0.58     0.58      0.58      0.58 %3 

Net investment income

     2.42     2.41     2.02      2.19      2.13

Portfolio turnover rate4

     43     42     18      35      54

 

           
WisdomTree Europe SmallCap Dividend
Fund
   For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 58.54     $ 69.55     $ 59.16      $ 57.01      $ 55.63  

Investment operations:

            

Net investment income1

     2.43       2.57       1.88        2.04        1.45  

Net realized and unrealized gain (loss)

     (17.41     (10.87     10.39        2.32        1.49  

Total from investment operations

     (14.98     (8.30     12.27        4.36        2.94  

Dividends to shareholders:

            

Net investment income

     (2.50     (2.71     (1.88      (2.21      (1.56

Net asset value, end of year

   $ 41.06     $ 58.54     $ 69.55      $ 59.16      $ 57.01  

TOTAL RETURN2

     (26.54 )%      (12.19 )%      20.94      7.97      5.25

RATIOS/SUPPLEMENTAL DATA:

            

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

   $ 320,231     $ 667,402     $ 1,224,082      $ 774,999      $ 1,125,935  

Ratios to average net assets5 of:

            

Expenses, net of expense waivers

     0.58     0.58     0.58      0.58      0.58 %6 

Expenses, prior to expense waivers

     0.58     0.58     0.58      0.58      0.59 %6 

Net investment income

     4.15     4.06     2.76      3.68      2.59

Portfolio turnover rate4

     50     52     33      45      50
1 

Based on average shares outstanding.

 

2 

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

 

3 

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio would have been unchanged.

 

4 

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

 

5 

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

 

6 

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio (net of expense waivers) would have been 0.58% and the expense ratio (prior to expense waivers) would have been 0.58%.

 

See Notes to Financial Statements.

 

92   WisdomTree Trust


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree International Dividend
ex-Financials Fund
   For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 41.19     $ 43.18     $ 39.72      $ 38.41      $ 43.79  

Investment operations:

            

Net investment income1

     1.69       1.74       1.58        1.48        1.64  

Net realized and unrealized gain (loss)

     (9.52     (1.98     3.45        1.34        (5.41

Total from investment operations

     (7.83     (0.24     5.03        2.82        (3.77

Dividends to shareholders:

            

Net investment income

     (1.70     (1.75     (1.57      (1.51      (1.61

Net asset value, end of year

   $ 31.66     $ 41.19     $ 43.18      $ 39.72      $ 38.41  

TOTAL RETURN2

     (19.77 )%      (0.49 )%      12.84      7.56      (8.83 )% 

RATIOS/SUPPLEMENTAL DATA:

            

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

   $ 106,061     $ 179,189     $ 198,646      $ 200,568      $ 230,483  

Ratios to average net assets3 of:

            

Expenses4

     0.58     0.58     0.58      0.58      0.58 %5 

Net investment income

     4.17     4.17     3.73      3.86      3.99

Portfolio turnover rate6

     45     41     35      30      40

 

           
WisdomTree International Equity Fund    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 50.59     $ 54.63     $ 49.57      $ 45.90      $ 51.67  

Investment operations:

            

Net investment income1

     1.69       1.86       1.70        1.59        1.68  

Net realized and unrealized gain (loss)

     (10.88     (3.98     4.98        3.68        (5.79

Total from investment operations

     (9.19     (2.12     6.68        5.27        (4.11

Dividends to shareholders:

            

Net investment income

     (1.75     (1.92     (1.62      (1.60      (1.66

Net asset value, end of year

   $ 39.65     $ 50.59     $ 54.63      $ 49.57      $ 45.90  

TOTAL RETURN2

     (18.80 )%      (3.89 )%      13.61      11.75      (8.15 )% 

RATIOS/SUPPLEMENTAL DATA:

            

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

   $ 580,910     $ 837,260     $ 914,993      $ 703,948      $ 621,932  

Ratios to average net assets3 of:

            

Expenses4

     0.48     0.48     0.48      0.48      0.48 %5 

Net investment income

     3.36     3.59     3.15      3.41      3.47

Portfolio turnover rate6

     23     15     19      14      13
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio would have been unchanged.

 

6 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      93  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree International High Dividend
Fund
   For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 40.30     $ 43.25     $ 40.39      $ 37.59      $ 43.28  

Investment operations:

            

Net investment income1

     1.65       1.78       1.66        1.63        1.65  

Net realized and unrealized gain (loss)

     (10.75     (2.89     2.79        2.79        (5.70

Total from investment operations

     (9.10     (1.11     4.45        4.42        (4.05

Dividends to shareholders:

            

Net investment income

     (1.67     (1.84     (1.59      (1.62      (1.64

Net asset value, end of year

   $ 29.53     $ 40.30     $ 43.25      $ 40.39      $ 37.59  

TOTAL RETURN2

     (23.48 )%      (2.53 )%      11.12      12.09      (9.60 )% 

RATIOS/SUPPLEMENTAL DATA:

            

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

   $ 174,236     $ 251,852     $ 335,180      $ 250,392      $ 257,467  

Ratios to average net assets3 of:

            

Expenses4

     0.58     0.58     0.58      0.58      0.58 %5 

Net investment income

     4.18     4.32     3.83      4.28      4.09

Portfolio turnover rate6

     34     24     26      29      21

 

           
WisdomTree International LargeCap
Dividend Fund
   For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 46.37     $ 49.48     $ 45.45      $ 42.14      $ 48.67  

Investment operations:

            

Net investment income1

     1.56       1.81       1.62        1.54        1.59  

Net realized and unrealized gain (loss)

     (9.52     (3.09     3.97        3.32        (6.58

Total from investment operations

     (7.96     (1.28     5.59        4.86        (4.99

Dividends to shareholders:

            

Net investment income

     (1.60     (1.83     (1.56      (1.55      (1.54

Net asset value, end of year

   $ 36.81     $ 46.37     $ 49.48      $ 45.45      $ 42.14  

TOTAL RETURN2

     (17.78 )%      (2.55 )%      12.41      11.79      (10.49 )% 

RATIOS/SUPPLEMENTAL DATA:

            

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

   $ 327,622     $ 389,510     $ 442,860      $ 359,074      $ 366,613  

Ratios to average net assets3 of:

            

Expenses4

     0.48     0.48     0.48      0.48      0.48 %5 

Net investment income

     3.38     3.83     3.30      3.59      3.51

Portfolio turnover rate6

     14     14     16      15      19
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio would have been unchanged.

 

6 

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

 

See Notes to Financial Statements.

 

94   WisdomTree Trust


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree International MidCap
Dividend Fund
   For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
    For the
Year Ended
March 31, 2017
    For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 61.98     $ 68.12     $ 59.88     $ 55.82     $ 58.65  

Investment operations:

          

Net investment income1

     2.03       2.00       1.84       1.60       1.64  

Net realized and unrealized gain (loss)

     (14.87     (6.17     8.17       4.03       (2.85

Total from investment operations

     (12.84     (4.17     10.01       5.63       (1.21

Dividends to shareholders:

          

Net investment income

     (2.08     (1.97     (1.77     (1.57     (1.62

Net asset value, end of year

   $ 47.06     $ 61.98     $ 68.12     $ 59.88     $ 55.82  

TOTAL RETURN2

     (21.43 )%      (6.16 )%      16.87     10.34     (2.12 )% 

RATIOS/SUPPLEMENTAL DATA:

          

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

   $ 169,413     $ 278,924     $ 286,089     $ 179,626     $ 153,512  

Ratios to average net assets3 of:

          

Expenses

     0.58     0.58 %4      0.58 %4      0.58 %4      0.58 %4,5 

Net investment income

     3.30     3.12     2.76     2.87     2.91

Portfolio turnover rate6

     33     28     23     31     24

 

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

Net asset value, beginning of period

                              $ 24.72     $ 24.75  

Investment operations:

             

Net investment income1

              0.75       0.55  

Net realized and unrealized loss

                                (3.88     (0.27

Total from investment operations

                                (3.13     0.28  

Dividends to shareholders:

             

Net investment income

                                (0.71     (0.31

Net asset value, end of period

                              $ 20.88     $ 24.72  

TOTAL RETURN2

                                (13.08 )%      1.18

RATIOS/SUPPLEMENTAL DATA:

             

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

            $ 33,408     $ 19,778  

Ratios to average net assets of:

             

Expenses

              0.38 %4      0.38 %7 

Net investment income

                                3.04     3.61 %7 

Portfolio turnover rate6

                                132     114
* 

Commencement of operations.

 

1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio would have been unchanged.

 

6 

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

 

7 

Annualized.

 

See Notes to Financial Statements.

 

WisdomTree Trust      95  


Table of Contents

Financial Highlights (continued)

WisdomTree Trust

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

 

 

WisdomTree International Quality Dividend
Growth Fund
           For the
Year Ended
March 31, 2020
   

For the

Period Ended
March 31, 2019

   

For the

Period Ended
March 31, 2018

     For the Period
April 7, 2016*
through
March 31, 2017
 

Net asset value, beginning of period

            $ 28.62     $ 30.50     $ 26.14      $ 24.86  

Investment operations:

            

Net investment income1

        0.70       0.58       0.65        0.73  

Net realized and unrealized gain (loss)

              (2.77     (1.95     4.12        1.02  

Total from investment operations

              (2.07     (1.37     4.77        1.75  

Dividends to shareholders:

            

Net investment income

              (0.68     (0.51     (0.41      (0.47

Net asset value, end of period

            $ 25.87     $ 28.62     $ 30.50      $ 26.14  

TOTAL RETURN2

              (7.43 )%      (4.43 )%      18.33      7.12

RATIOS/SUPPLEMENTAL DATA:

            

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

      $ 68,551     $ 71,541     $ 24,396      $ 9,149  

Ratios to average net assets of:

            

Expenses, net of expense waivers

        0.38     0.38     0.38      0.38 %3 

Expenses, prior to expense waivers

        0.48     0.48     0.48      0.48 %3 

Net investment income

              2.38     2.05     2.18      2.97 %3 

Portfolio turnover rate4

              51     55     39      38

 

           
WisdomTree International SmallCap
Dividend Fund
   For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 65.74     $ 75.80     $ 65.18      $ 58.98      $ 59.21  

Investment operations:

            

Net investment income1

     2.36       2.19       2.07        1.97        1.64  

Net realized and unrealized gain (loss)

     (17.32     (10.01     10.76        6.22        (0.31

Total from investment operations

     (14.96     (7.82     12.83        8.19        1.33  

Dividends to shareholders:

            

Net investment income

     (2.49     (2.24     (2.21      (1.99      (1.56

Net asset value, end of year

   $ 48.29     $ 65.74     $ 75.80      $ 65.18      $ 58.98  

TOTAL RETURN2

     (23.58 )%      (10.41 )%      19.91      14.24      2.26

RATIOS/SUPPLEMENTAL DATA:

            

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

   $ 1,161,439     $ 1,673,095     $ 1,940,467      $ 1,284,036      $ 1,099,977  

Ratios to average net assets5 of:

            

Expenses6

     0.58     0.58     0.58      0.58      0.58 %7 

Net investment income

     3.63     3.15     2.83      3.27      2.82

Portfolio turnover rate4

     50     35     28      38      48
* 

Commencement of operations.

 

1 

Based on average shares outstanding.

 

2 

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

 

3 

Annualized.

 

4 

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

 

5

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

 

6

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

 

7

Included in the expense ratio are non-recurring professional expenses. Without these expenses, the expense ratio would have been unchanged.

 

See Notes to Financial Statements.

 

96   WisdomTree Trust


Table of Contents

Financial Highlights (concluded)

WisdomTree Trust

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

 

 

WisdomTree Japan SmallCap Dividend Fund    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
    For the
Year Ended
March 31, 2018
     For the
Year Ended
March 31, 2017
     For the
Year Ended
March 31, 2016
 

Net asset value, beginning of year

   $ 68.10     $ 80.93     $ 66.48      $ 55.30      $ 54.09  

Investment operations:

            

Net investment income1

     1.14       1.00       1.47        1.11        0.91  

Net realized and unrealized gain (loss)

     (8.95     (12.61     14.27        11.16        1.00  

Total from investment operations

     (7.81     (11.61     15.74        12.27        1.91  

Dividends to shareholders:

            

Net investment income

     (1.65     (1.22     (1.29      (1.09      (0.70

Net asset value, end of year

   $ 58.64     $ 68.10     $ 80.93      $ 66.48      $ 55.30  

TOTAL RETURN2

     (11.85 )%      (14.38 )%      23.84      22.43      3.51

RATIOS/SUPPLEMENTAL DATA:

            

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

   $ 237,503     $ 616,294     $ 1,100,591      $ 475,304      $ 423,031  

Ratios to average net assets3 of:

            

Expenses4

     0.58     0.58     0.58      0.58      0.58

Net investment income

     1.67     1.35     1.94      1.84      1.65

Portfolio turnover rate5

     38     42     18      33      29
1 

Based on average shares outstanding.

 

2 

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

 

3 

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

 

4 

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

 

5 

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

 

See Notes to Financial Statements.

 

WisdomTree Trust      97  


Table of Contents

Notes to Financial Statements

 

1. ORGANIZATION

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

 

   
Fund   

Commencement

of Operations

 

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

     May 7, 2014  

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

     June 16, 2006  

WisdomTree International Dividend ex-Financials Fund (“International Dividend ex-Financials Fund’’)

     June 16, 2006  

WisdomTree International Equity Fund (“International Equity Fund’’)

     June 16, 2006  

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

     June 16, 2006  

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

     June 16, 2006  

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

     June 16, 2006  

WisdomTree International Multifactor Fund (“International Multifactor Fund’’)

     August 10, 2018  

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

     April 7, 2016  

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

     June 16, 2006  

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

     June 16, 2006  

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

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

2. SIGNIFICANT ACCOUNTING POLICIES

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

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

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

Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g. broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last quoted sale price or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded

 

98   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Foreign currency contracts are valued daily using WM/Reuters closing spot and forward rates as of 4:00 p.m. London time. Futures contracts generally are valued at the settlement price, the price at which a futures contract settles once a given trading day has ended, on the primary exchange on which they trade.

In certain instances, such as when reliable market valuations are not readily available, a Fund’s investments, which include derivatives, will be fair valued in accordance with the Fund’s pricing policy. The Board of Trustees has established a pricing committee (the “Pricing Committee”) which is comprised of senior representatives of WTAM and which reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from a national securities exchange, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Pricing Committee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.

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

Level 1 – quoted prices in active markets for identical securities

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

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)

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

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

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

Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent pricing service providers’ internal pricing models may use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate. Over-the-counter financial derivative

 

WisdomTree Trust      99  


Table of Contents

Notes to Financial Statements (continued)

 

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

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

The following is a summary of the fair valuations according to the inputs used as of March 31, 2020 in valuing each Fund’s assets:

 

       
Europe Quality Dividend Growth Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 25,141,455      $      $         —  

Investment of Cash Collateral for Securities Loaned

            440,298         

Total

   $ 25,141,455      $ 440,298      $  

Unrealized Appreciation on Foreign Currency Contracts

            78         

Unrealized Depreciation on Foreign Currency Contracts

            (51       

Total - Net

   $ 25,141,455      $ 440,325      $  
        
       
Europe SmallCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 312,332,809      $      $  

Exchange-Traded Fund

     4,217,400                

Investment of Cash Collateral for Securities Loaned

            21,783,808         

Total

   $ 316,550,209      $ 21,783,808      $  

Unrealized Appreciation on Foreign Currency Contracts

            11,175         

Unrealized Depreciation on Foreign Currency Contracts

            (5,704       

Total - Net

   $ 316,550,209      $ 21,789,279      $  
        
       
International Dividend ex-Financials Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 103,870,677      $      $  

Exchange-Traded Fund

     1,294,914                

Investment of Cash Collateral for Securities Loaned

            1,528,478         

Total

   $ 105,165,591      $ 1,528,478      $  

Unrealized Appreciation on Foreign Currency Contracts

            151         

Unrealized Depreciation on Foreign Currency Contracts

            (24,892       

Total - Net

   $ 105,165,591      $ 1,503,737      $  
        

 

100   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

       
International Equity Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Australia

   $ 35,077,259      $ 64,727      $ 18,936 ** 

Other*

     540,516,364                

Exchange-Traded Fund

     510,748                

Investment of Cash Collateral for Securities Loaned

            20,706,466         

Total

   $ 576,104,371      $ 20,771,193      $ 18,936  

Unrealized Appreciation on Foreign Currency Contracts

            553         

Unrealized Depreciation on Foreign Currency Contracts

            (5,898       

Total - Net

   $ 576,104,371      $ 20,765,848      $ 18,936  
        
       
International High Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Australia

   $ 13,445,670      $ 12,016      $  

Other*

     159,066,611                

Exchange-Traded Fund

     94,319                

Investment of Cash Collateral for Securities Loaned

            8,867,431         

Total

   $ 172,606,600      $ 8,879,447      $  

Unrealized Appreciation on Foreign Currency Contracts

            48         

Unrealized Depreciation on Foreign Currency Contracts

            (3,546       

Total - Net

   $ 172,606,600      $ 8,875,949      $  
        
       
International LargeCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 323,936,721      $      $  

Exchange-Traded Fund

     727,876                

Investment of Cash Collateral for Securities Loaned

            10,238,938         

Total

   $ 324,664,597      $ 10,238,938      $  

Unrealized Appreciation on Foreign Currency Contracts

            37         

Unrealized Depreciation on Foreign Currency Contracts

            (5,836       

Total - Net

   $ 324,664,597      $ 10,233,139      $  
        
       
International MidCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Australia

   $ 11,157,093      $      $ 46,783 ** 

Other*

     157,215,384                

Investment of Cash Collateral for Securities Loaned

            10,267,995         

Total

   $ 168,372,477      $ 10,267,995      $ 46,783  

Unrealized Appreciation on Foreign Currency Contracts

            586         

Unrealized Depreciation on Foreign Currency Contracts

            (6,438       

Total - Net

   $ 168,372,477      $ 10,262,143      $ 46,783  
        

 

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Notes to Financial Statements (continued)

 

       
International Multifactor Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Australia

   $ 2,650,247      $      $ 19,737 ** 

Other*

     29,480,104                

Total

   $ 32,130,351      $      $ 19,737  

Unrealized Appreciation on Foreign Currency Contracts

            843,862         

Unrealized Depreciation on Foreign Currency Contracts

            (45,771       

Total - Net

   $ 32,130,351      $ 798,091      $ 19,737  
        
       
International Quality Dividend Growth Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Australia

   $ 2,298,693      $ 21,502      $ 4,926 ** 

United Kingdom

     14,470,269               2 ** 

Other*

     51,505,300                

Investment of Cash Collateral for Securities Loaned

            2,238,011         

Total

   $ 68,274,262      $ 2,259,513      $ 4,928  
        
       
International SmallCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks

                          

Australia

   $ 99,290,368      $ 230,366      $  

New Zealand

     25,469,707        517,089         

Singapore

     36,041,233               558,097 ** 

Other*

     985,766,646                

Exchange-Traded Funds

     2,479,101                

Investment of Cash Collateral for Securities Loaned

            58,895,992         

Total

   $ 1,149,047,055      $ 59,643,447      $ 558,097  

Unrealized Appreciation on Foreign Currency Contracts

            4,300         

Unrealized Depreciation on Foreign Currency Contracts

            (28,187       

Total - Net

   $ 1,149,047,055      $ 59,619,560      $ 558,097  
        
       
Japan SmallCap Dividend Fund    Level 1      Level 2      Level 3  

Common Stocks*

   $ 231,479,149      $      $  

Exchange-Traded Fund

     2,315,089                

Investment of Cash Collateral for Securities Loaned

            13,572,759         

Total

   $ 233,794,238      $ 13,572,759      $  

Unrealized Depreciation on Foreign Currency Contracts

            (71       

Total - Net

   $ 233,794,238      $ 13,572,688      $  
  *

Please refer to the Schedule of Investments for a breakdown of the valuation by industry type and/or country.

 

  **

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

During the fiscal year ended March 31, 2020, there were no significant transfers into or out of Level 3 of the fair value hierarchy.

Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in derivatives, specifically foreign currency contracts and equity futures contracts during the year ended March 31, 2020 and open positions in such derivatives as of March 31, 2020 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to risk. Risks may arise upon entering into foreign currency contracts from potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar or each other. The Funds’ derivative agreements also contain credit-risk related contingent features which include, but are not limited to, a percentage decline in the Funds’ NAV over a specified time period. If an

 

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Notes to Financial Statements (continued)

 

event occurred at March 31, 2020 that triggered a contingent feature, the counterparty to the agreement may require the Funds to post additional collateral or terminate the derivative positions and demand payment. Any collateral posted with respect to the derivative positions would be used to offset or reduce the payment. The maximum exposure to derivatives agreements with credit-risk related contingent features would be the total value of derivatives in net liability positions for each Fund, as disclosed on pages 107 and 108. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of March 31, 2020, if any, is reflected as a footnote below the respective derivatives tables on each Fund’s Schedule of Investments.

As of March 31, 2020, the effects of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are presented in the summary below:

 

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

Europe Quality Dividend Growth Fund

           

Foreign exchange contracts

   Unrealized appreciation on foreign currency contracts    $ 78      Unrealized depreciation on foreign currency contracts    $ 51  

Europe SmallCap Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on foreign currency contracts      11,175      Unrealized depreciation on
foreign currency contracts
     5,704  

International Dividend ex-Financials Fund

           

Foreign exchange contracts

   Unrealized appreciation on foreign currency contracts      151      Unrealized depreciation on foreign currency contracts      24,892  

International Equity Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     553      Unrealized depreciation on foreign currency contracts      5,898  

International High Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     48      Unrealized depreciation on
foreign currency contracts
     3,546  

International LargeCap Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     37      Unrealized depreciation on
foreign currency contracts
     5,836  

International MidCap Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on foreign currency contracts      586      Unrealized depreciation on
foreign currency contracts
     6,438  

International Multifactor Fund

           

Foreign exchange contracts

   Unrealized appreciation on foreign currency contracts      843,862      Unrealized depreciation on foreign currency contracts      45,771  

International SmallCap Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
     4,300      Unrealized depreciation on
foreign currency contracts
     28,187  

Japan SmallCap Dividend Fund

           

Foreign exchange contracts

   Unrealized appreciation on
foreign currency contracts
          Unrealized depreciation on
foreign currency contracts
     71  

For the fiscal year ended March 31, 2020, the effects of derivative instruments on each Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

     
Fund   

Amount of Realized Gain

or (Loss) on Derivatives

Recognized1

    

Change in Unrealized

Appreciation or
(Depreciation) on

Derivatives Recognized2

 

Europe Quality Dividend Growth Fund

 

Foreign exchange contracts

   $ (25,065    $ 27  

Europe SmallCap Dividend Fund

 

Foreign exchange contracts

     (285,502      2,927  

Equity contracts

     (544,533       

International Dividend ex-Financials Fund

 

Foreign exchange contracts

     (121,307      (24,551

International Equity Fund

 

Foreign exchange contracts

     (108,785      (5,345

 

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Notes to Financial Statements (continued)

 

     
Fund   

Amount of Realized Gain

or (Loss) on Derivatives

Recognized1

    

Change in Unrealized

Appreciation or
(Depreciation) on

Derivatives Recognized2

 

International High Dividend Fund

 

Foreign exchange contracts

   $ (89,132    $ (3,596

International LargeCap Dividend Fund

 

Foreign exchange contracts

     (47,831      (5,646

International MidCap Dividend Fund

 

Foreign exchange contracts

     (38,596      (5,852

International Multifactor Fund

 

Foreign exchange contracts

     (150,035      816,533  

International Quality Dividend Growth Fund

 

Foreign exchange contracts

     (30,640      (83

International SmallCap Dividend Fund

 

Foreign exchange contracts

     (205,844      (23,887

Equity contracts

     (656,168       

Japan SmallCap Dividend Fund

 

Foreign exchange contracts

     (36,102      364  
  1 

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

 

Foreign exchange contracts

   Net realized gain (loss) from foreign currency contracts

Equity contracts

   Net realized gain (loss) from futures contracts

 

  2 

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

 

Foreign exchange contracts

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

During the fiscal year ended March 31, 2020, the volume of derivative activity (based on the average of month-end balances, except where footnoted) for each Fund was as follows:

 

   
     Average Notional  
Fund   

Foreign currency

contracts
(to deliver

USD)

    

Foreign currency
contracts
(to receive

USD)

     Future
contracts
(long)
 

Europe Quality Dividend Growth Fund

        

Foreign exchange contracts

   $ 10,853      $ 7,681      $  

Europe SmallCap Dividend Fund

        

Equity contracts1

                   583,620  

Foreign exchange contracts

     439,976        740,807         

International Dividend ex-Financials Fund

        

Foreign exchange contracts

     76,475        145,846         

International Equity Fund

        

Foreign exchange contracts

     290,052        124,190         

International High Dividend Fund

        

Foreign exchange contracts

     64,130        73,697         

International LargeCap Dividend Fund

        

Foreign exchange contracts

     90,736        107,631         

International MidCap Dividend Fund

        

Foreign exchange contracts

     139,752        61,875         

International Multifactor Fund

        

Foreign exchange contracts

     3,623,014        20,995,923         

International Quality Dividend Growth Fund

        

Foreign exchange contracts

     11,961        18,424         

International SmallCap Dividend Fund

        

Equity contracts1

                   7,724,354  

Foreign exchange contracts

     1,717,789        548,671         

Japan SmallCap Dividend Fund

        

Foreign exchange contracts

     47,871        195,765         
  1 

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

 

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Investment Transactions and Investment Income Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income (net of foreign taxes withheld, if any) is recognized on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. Non-cash dividend income is recognized at the fair value of securities received on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. On each measurement date, the Funds evaluate the collectability of receivable balances. Generally, the Funds will write-off dividend receivable balances that are canceled by the issuer as of the date that the dividend receivable cancellation notification was publicly made available or when it becomes probable that dividends will not be collected and the amount of uncollectable dividends can be reasonably estimated. Interest income (including amortization of premiums and accretion of discounts), net of any foreign taxes withheld, is accrued daily. Generally, amortization of premiums and accretion of discounts are recognized daily using the effective interest method (also known as the scientific amortization method). Income earned from securities lending activities (i.e. securities lending income), net of fees payable to the securities borrower and/or securities lending agent, is accrued daily. As of March 31, 2020, the International Equity Fund, International High Dividend Fund and the International LargeCap Dividend Fund have reduced dividend receivable and dividend income balances by the amount of canceled dividends.

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates prevailing on the respective dates of such transactions that are deemed appropriate by WTAM. Realized and unrealized foreign exchange gains and losses on investments are included as a component of net realized gain (loss) from investment transactions and net increase (decrease) in unrealized appreciation (depreciation) from investment transactions, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses from foreign currency contracts are included in net realized gain (loss) from foreign currency contracts and net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies, currency gains or losses recognized between the trade and settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in net realized gain (loss) from foreign currency related transactions and/or increase (decrease) in unrealized appreciation (depreciation) from translation of assets and liabilities denominated in foreign currencies in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.

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

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

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

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

 

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Notes to Financial Statements (continued)

 

Currency Transactions — The Funds may enter into foreign currency forward and foreign currency futures contracts to facilitate local securities settlements or to protect against currency exposure. The Funds, other than the International Multifactor Fund, do not expect to engage in currency transactions for the purpose of hedging against currency exposures of the Fund’s assets that are denominated in one or more foreign currencies. The Funds may not enter into such contracts for speculative purposes.

Forward Foreign Currency Contracts — The Funds, except for the International Multifactor Fund, utilized forward foreign currency contracts (‘‘Forward Contracts’’) primarily to facilitate foreign security settlements. The International Multifactor Fund utilized Forward Contracts primarily to offset applicable international currency exposure from positions in international equities. A Forward Contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A Forward Contract generally does not require an initial margin deposit and no commissions are charged at any stage for trades. However, if a Fund is in an unrealized loss position on a Forward Contract, it may be required to pledge collateral (or additional collateral) to the counterparty. If a Fund is in an unrealized gain position on a Forward Contract, it may receive collateral from the counterparty.

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

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

Futures Contracts — The Europe SmallCap Dividend Fund and International SmallCap Dividend Fund utilized equity futures contracts on a temporary basis during the period to obtain market exposure consistent with their investment objectives during each Fund’s annual portfolio rebalance. When a Fund purchases a listed futures contract, it agrees to purchase a specified reference asset (e.g., commodity, currency or Treasury security) at a specified future date. When a Fund sells a listed futures contract, it agrees to sell a specified reference asset (e.g., commodity, currency or Treasury security) at a specified future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. The exchange clearing corporation is the ultimate counterparty for all exchange-listed contracts, so credit risk is limited to the creditworthiness of the exchange’s clearing corporation.

Upon entering into a futures contract, a Fund is required to deliver to a broker an amount of cash and/or government securities equal to a certain percentage of the contract amount. This amount is known as the “initial margin”. Subsequent payments, known as “variation margin”, generally are made or received by the Fund each day or at other agreed-upon time periods depending on the fluctuations in the value of the underlying futures contracts, except that in the case of certain futures contracts variation margin payments may be made or received when the futures contract expires. Variation margin is recorded for financial statement purposes on a daily basis as an unrealized gain or loss on futures until the financial futures contract is closed, at which time the net gain or loss is reclassified to realized gain or loss on futures. When a Fund purchases or sells a futures contract, the Fund is required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, a Fund will segregate assets consisting of, or take other measures with respect to, cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, will “cover” its position in a manner consistent with the 1940 Act or the rules and SEC interpretations thereunder. This will function as a practical limit on the amount of leverage which a Fund may undertake and on the potential increase in the speculative character of a Fund’s outstanding portfolio securities.

As of March 31, 2020, there were no open futures contracts in the Funds.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high-grade debt obligations, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not

 

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considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower.

Master Netting Arrangements — FASB ASC Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter derivatives (“OTC”), such as Forward Contracts, and typically contains, among other things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.

Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g. foreign exchange contracts, options and certain swaps). Generally, for transactions traded under an ISDA Master Agreement, the collateral requirements are calculated by netting the marked to market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by a Fund and the counterparty. Generally, the amount of collateral due from or to a counterparty must exceed a minimum transfer amount threshold before a transfer is required to be made. To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from a counterparty’s non-performance.

The Funds’ security lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower.

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2020, the impact of netting of assets and liabilities and the offsetting of collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending Agreement are detailed in the following table:

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
   

Net Amount

   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
   

Net Amount

 
Fund   Financial
Instruments
    Collateral
Received
    Financial
Instruments
    Collateral
Posted
 

Europe Quality Dividend Growth Fund

               

Securities Lending

  $ 741,357     $     $ (741,357 )1    $     $     $     $     $  

Foreign Currency Contracts

    78       (22           56       51       (22           29  

 

WisdomTree Trust      107  


Table of Contents

Notes to Financial Statements (continued)

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
   

Net Amount

   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
   

Net Amount

 
Fund   Financial
Instruments
    Collateral
Received
    Financial
Instruments
    Collateral
Posted
 

Europe SmallCap Dividend Fund

               

Securities Lending

  $ 28,239,204     $     $ (28,239,204 )1    $     $     $     $     $  

Foreign Currency Contracts

    11,175                   11,175       5,704                   5,704  

International Dividend ex-Financials Fund

               

Securities Lending

    5,427,915             (5,427,915 )1                               

Foreign Currency Contracts

    151       (116           35       24,892       (116           24,776  

International Equity Fund

               

Securities Lending

    37,636,396             (37,636,396 )1                               

Foreign Currency Contracts

    553                   553       5,898                   5,898  

International High Dividend Fund

               

Securities Lending

    14,170,276             (14,170,276 )1                               

Foreign Currency Contracts

    48       (48                 3,546       (48           3,498  

International LargeCap Dividend Fund

               

Securities Lending

    16,348,682             (16,348,682 )1                               

Foreign Currency Contracts

    37                   37       5,836                   5,836  

International MidCap Dividend Fund

               

Securities Lending

    18,056,833             (18,056,833 )1                               

Foreign Currency Contracts

    586       (335           251       6,438       (335           6,103  

International Multifactor Fund

               

Foreign Currency Contracts

    843,862       (45,771           798,091       45,771       (45,771            

International Quality Dividend Growth Fund

               

Securities Lending

    2,830,288             (2,830,288 )1                               

International SmallCap Dividend Fund

               

Securities Lending

    115,316,548             (115,316,548 )1                               

Foreign Currency Contracts

    4,300       (4,300                 28,187       (4,300           23,887  

Japan SmallCap Dividend Fund

               

Securities Lending

    26,761,891             (26,761,891 )1                               

Foreign Currency Contracts

                            71                   71  
  1

The amount of collateral presented has been limited such that the net amount by counterparty cannot be less than zero.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends

 

108   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

and distributions from net investment income and net realized capital gains are determined in accordance with the requirements of the Code and the U.S. Treasury regulations. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (‘‘Mellon’’) to provide sub-advisory services to the Funds. Mellon is compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

WTAM expects to receive advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:

 

       
Fund   

Advisory

Fee Rate

(before fee waiver)

    

Advisory

Fee Waiver1

    

Advisory Fee

Waiver

Expiration Date

 

Europe Quality Dividend Growth Fund

     0.58              

Europe SmallCap Dividend Fund

     0.58              

International Dividend ex-Financials Fund

     0.58              

International Equity Fund

     0.48              

International High Dividend Fund

     0.58              

International LargeCap Dividend Fund

     0.48              

International MidCap Dividend Fund

     0.58              

International Multifactor Fund

     0.38                

International Quality Dividend Growth Fund

     0.48      (0.10 )%       July 31, 2020  

International SmallCap Dividend Fund

     0.58              

Japan SmallCap Dividend Fund

     0.58              
  1 

WTAM has contractually agreed to waive a portion of its advisory fee by the waiver amount listed per annum based on the average daily net assets through the expiration date listed, unless earlier terminated by the Board of Trustees of the Trust for any reason. The dollar amount of contractual fee waivers are included in “Expense waivers” on the Statements of Operations.

Each Fund may purchase shares of affiliated ETFs in secondary market transactions to reduce cash balances. Transactions in shares of affiliated ETFs for the fiscal year ended March 31, 2020, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM waives its advisory fees for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (fund accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are shown in the Statements of Operations in “Expense waivers”.

During the fiscal year ended March 31, 2020, certain Funds engaged in purchase and sale transactions with funds that have a common investment adviser, WTAM. These interfund purchase and sale transactions were effected in accordance with Rule 17a-7 under the 1940 Act. For the fiscal year ended March 31, 2020, the cost of purchases, proceeds from sales and the net realized gain or loss recognized upon the disposal of securities resulting from interfund transactions are shown in the following table:

 

       
Fund    Purchases      Sales      Net Realized
Gain/Loss
 

Europe Quality Dividend Growth Fund

   $ 5,073,019      $ 7,185,623      $ (812,020

Europe SmallCap Dividend Fund

     17,497,014        26,699,836        (5,421,795

International Dividend ex-Financials Fund

     8,227,640        6,783,048        (697,793

International Equity Fund

     33,399,989        35,032,706        (8,983,186

 

WisdomTree Trust      109  


Table of Contents

Notes to Financial Statements (continued)

 

       
Fund    Purchases      Sales      Net Realized
Gain/Loss
 

International High Dividend Fund

   $ 11,803,713      $ 5,973,452      $ (974,850

International LargeCap Dividend Fund

     10,224,976        12,149,667        (1,735,468

International MidCap Dividend Fund

     19,880,207        22,303,777        (3,838,632

International Quality Dividend Growth Fund

     12,887,110        8,013,277        (1,873,871

International SmallCap Dividend Fund

     83,697,860        52,967,682        (3,746,581

Japan SmallCap Dividend Fund

     19,654,897        24,350,875        (6,284,324

WTAM or its affiliates may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2020, WTAM held shares of and received distributions from the following Funds which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

 

       
Fund    Fund Shares
held by WTAM
     Market Value of
Fund Shares
held by WTAM
     Dividends and
Distributions paid to
WTAM on
Fund Shares
held by WTAM
 

Europe SmallCap Dividend Fund

     74      $ 3,010      $ 35  

International Equity Fund

     100        3,949        81  

International Multifactor Fund

     181        3,794        374  

International Quality Dividend Growth Fund

     169        4,328        150  

International SmallCap Dividend Fund

     245        11,772        684  

Japan SmallCap Dividend Fund

                   62  

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2020, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof. Except when aggregated in creation units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities and/or an amount of cash. Investors purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year ended March 31, 2020 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

Europe Quality Dividend Growth Fund

   $ 16,875,227      $ 16,853,016      $ 5,335,476      $ 15,131,056  

Europe SmallCap Dividend Fund

     275,667,287        274,768,610               200,261,251  

International Dividend ex-Financials Fund

     70,732,297        70,577,028               38,003,973  

International Equity Fund

     183,976,864        184,233,095               87,312,349  

International High Dividend Fund

     79,430,082        77,877,438        20,300,866        42,733,447  

International LargeCap Dividend Fund

     64,089,719        54,969,784        13,694,899         

International MidCap Dividend Fund

     84,763,542        83,665,045        9,168,041        62,228,166  

International Multifactor Fund

     35,609,826        35,164,865        25,482,199        7,589,939  

International Quality Dividend Growth Fund

     49,421,416        47,203,909        37,196,789        28,539,265  

International SmallCap Dividend Fund

     898,713,178        787,920,248        26,627,846        223,820,971  

Japan SmallCap Dividend Fund

     170,305,156        170,436,809        9,225,358        351,885,532  

 

110   WisdomTree Trust


Table of Contents

Notes to Financial Statements (continued)

 

6. FEDERAL INCOME TAXES

At March 31, 2020, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:

 

         
    Investments in Long Securities           Investments in Financial Derivatives1        
Fund   Tax Cost    

Gross

Unrealized
Appreciation

   

Gross

Unrealized
Depreciation

    Net Unrealized
Depreciation
           Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
   

Net Unrealized

Appreciation/

(Depreciation)

   

Total Net

Unrealized

Depreciation

 

Europe Quality Dividend Growth Fund

  $ 30,243,734     $ 1,432,022     $ (6,094,003   $ (4,661,981           $ 78     $ (51   $ 27     $ (4,661,954

Europe SmallCap Dividend Fund

    499,413,803       14,353,454       (175,433,240     (161,079,786             11,175       (5,704     5,471       (161,074,315

International Dividend ex-Financials Fund

    151,365,692       4,274,033       (48,945,656     (44,671,623             151       (24,892     (24,741     (44,696,364

International Equity Fund

    714,869,805       61,796,255       (179,771,560     (117,975,305             553       (5,898     (5,345     (117,980,650

International High Dividend Fund

    249,884,627       5,969,140       (74,367,720     (68,398,580             48       (3,546     (3,498     (68,402,078

International LargeCap Dividend Fund

    408,546,249       30,734,640       (104,377,354     (73,642,714             37       (5,836     (5,799     (73,648,513

International MidCap Dividend Fund

    222,893,264       11,428,343       (55,634,352     (44,206,009             586       (6,438     (5,852     (44,211,861

International Multifactor Fund

    34,704,453       1,096,228       (3,650,593     (2,554,365             41,865       (1,412     40,453       (2,513,912

International Quality Dividend Growth Fund

    80,714,705       3,163,545       (13,339,547     (10,176,002                               (10,176,002

International SmallCap Dividend Fund

    1,560,668,754       64,827,572       (416,247,727     (351,420,155             4,300       (28,187     (23,887     (351,444,042

Japan SmallCap Dividend Fund

    321,071,459       9,128,337       (82,832,799     (73,704,462                   (71     (71     (73,704,533
  1 

Certain financial derivatives may be considered section 1256 contracts under the Code. Each section 1256 contract held at the close of a taxable year shall be treated as sold for its fair market value on the last business day of such taxable year (and any realized gain and loss shall be taken into account for the taxable year). As such, the unrealized appreciation/(depreciation) for financial derivatives on a tax basis may not correspond to the unrealized appreciation/(depreciation) on a GAAP basis. The unrealized appreciation/(depreciation) for financial derivatives on a GAAP basis is located in the respective financial derivatives tables in each Fund’s Schedule of Investments.

At March 31, 2020, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

           
Fund    Undistributed
Ordinary Income
    

Undistributed

Capital and Other

Losses

     Net Unrealized
Depreciation
     Currency and
Other Unrealized
Appreciation/
(Depreciation)
     Total
Distributable
Earnings (Loss)
 

Europe Quality Dividend Growth Fund

   $ 97,180      $ (6,901,873    $ (4,661,954    $ (2,671    $ (11,469,318

Europe SmallCap Dividend Fund

     768,471        (229,550,574      (161,074,315      (5,962      (389,862,380

International Dividend ex-Financials Fund

     488,212        (29,726,979      (44,696,364      18,988        (73,916,143

International Equity Fund

     2,215,495        (78,522,555      (117,980,650      5,292        (194,282,418

International High Dividend Fund

     521,543        (39,297,486      (68,402,078      4,278        (107,173,743

International LargeCap Dividend Fund

     1,161,597        (47,279,022      (73,648,513      17,123        (119,748,815

International MidCap Dividend Fund

     605,855        (21,196,410      (44,211,861      (953      (64,803,369

International Multifactor Fund

     115,978        (3,097,262      (2,513,912      (2,455      (5,497,651

International Quality Dividend Growth Fund

     350,591        (5,050,774      (10,176,002      (7,009      (14,883,194

International SmallCap Dividend Fund

     7,971,233        (120,399,526      (351,444,042      (42,545      (463,914,880

Japan SmallCap Dividend Fund

     3,366,671        (95,445,203      (73,704,533      5,644        (165,777,421

 

WisdomTree Trust      111  


Table of Contents

Notes to Financial Statements (continued)

 

The tax character of distributions paid during the fiscal years or periods ended March 31, 2020 and March 31, 2019, was as follows:

 

     
     Year Ended
March 31, 2020
     Year Ended
March 31, 2019
 
Fund    Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Ordinary
Income*
 

Europe Quality Dividend Growth Fund

   $ 908,753      $ 1,768,215  

Europe SmallCap Dividend Fund

     24,025,680        42,589,672  

International Dividend ex-Financials Fund

     6,679,985        7,765,680  

International Equity Fund

     28,034,655        32,159,951  

International High Dividend Fund

     9,965,602        13,212,551  

International LargeCap Dividend Fund

     13,724,833        16,024,315  

International MidCap Dividend Fund

     8,835,126        8,622,448  

International Multifactor Fund

     754,345        62,055 1 

International Quality Dividend Growth Fund

     2,162,870        1,130,824  

International SmallCap Dividend Fund

     61,380,468        57,938,955  

Japan SmallCap Dividend Fund

     11,877,835        16,060,084  
  * 

Includes short-term capital gains, if any.

  1 

For the period August 10, 2018 (commencement of operations) through March 31, 2019.

At March 31, 2020, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the below table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

       
Fund   

Short-Term

    

Long-Term

     Capital Loss
Available Total
 

Europe Quality Dividend Growth Fund

   $ 4,553,773      $ 2,348,100      $ 6,901,873  

Europe SmallCap Dividend Fund

     109,581,278        119,969,296        229,550,574  

International Dividend ex-Financials Fund

     14,499,371        15,227,608        29,726,979  

International Equity Fund

     17,139,451        61,383,104        78,522,555  

International High Dividend Fund

     6,170,302        33,127,184        39,297,486  

International LargeCap Dividend Fund

     11,195,652        36,083,370        47,279,022  

International MidCap Dividend Fund

     6,864,096        14,332,314        21,196,410  

International Multifactor Fund

     3,097,262               3,097,262  

International Quality Dividend Growth Fund

     3,968,448        1,082,326        5,050,774  

International SmallCap Dividend Fund

     108,292,920        12,106,606        120,399,526  

Japan SmallCap Dividend Fund

     70,322,832        25,122,371        95,445,203  

Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. At March 31, 2020, the Funds did not have any post-October capital losses or late year-ordinary losses to defer.

At March 31, 2020, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as follows:

 

     
Fund    Total Distributable
Earnings (Loss)
     Paid-in Capital  

Europe Quality Dividend Growth Fund

   $ 1,539,574      $ (1,539,574

Europe SmallCap Dividend Fund

     49,805        (49,805

International Dividend ex-Financials Fund

     (439,177      439,177  

International Equity Fund

     (15,555,888      15,555,888  

International High Dividend Fund

     (3,773,743      3,773,743  

International LargeCap Dividend Fund

             

International MidCap Dividend Fund

     (11,206,549      11,206,549  

International Multifactor Fund

     (1,038,306      1,038,306  

International Quality Dividend Growth Fund

     2,331,835        (2,331,835

International SmallCap Dividend Fund

     (73,253,372      73,253,372  

Japan SmallCap Dividend Fund

     2,908,209        (2,908,209

 

112   WisdomTree Trust


Table of Contents

Notes to Financial Statements (concluded)

 

The differences are primarily due to redemptions-in-kind.

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Foreign withholding taxes, as applicable, are accrued based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Foreign withholding taxes are accrued and applied to foreign income, net realized capital gains and net unrealized appreciation, as applicable, as the foreign income is earned or capital gains and unrealized appreciation are recorded. As of and during the fiscal year ended March 31, 2020, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Generally, each of the tax years in the four-year period ended March 31, 2020, remains subject to examination by taxing authorities.

7. ADDITIONAL INFORMATION

A recent outbreak of a respiratory disease caused by a novel coronavirus (“COVID-19”) has spread globally in a short period of time. In an organized attempt to contain and mitigate the effects of COVID-19, governments and businesses world-wide have taken aggressive measures, including businesses canceling dividends to preserve cash, governments closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations. COVID-19 has resulted in the disruption of and delays in the delivery of healthcare services and processes, the cancellation of organized events and educational institutions, the disruption of production and supply chains, a decline in consumer demand for certain goods and services, and general concern and uncertainty, all of which have contributed to increased volatility in global markets. The effects of COVID-19 likely will have affected and are likely to continue to affect certain sectors and industries more dramatically than others, and the effects borne by some will negatively affect the value of the issuers in those sectors and industries, which may adversely affect the value of each Fund’s investments in those sectors or industries. COVID-19, and other epidemics and pandemics that may arise in the future, could adversely affect the economies of many nations, the global economy, individual companies and capital markets in ways that cannot be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to limited health care resources. Political, economic and social stresses caused by COVID-19 also may exacerbate other pre-existing political, social and economic risks in certain countries. The duration of COVID-19 and its effects cannot be determined at this time, but the effects could be present for an extended period of time. It is impossible to predict the effects on the Funds of these or similar events and market conditions in the future. However, it is possible that these or similar events and market conditions could have a significant and adverse effect on the NAV and/or risk profile of the Funds.

 

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Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree Europe Quality Dividend Growth Fund, WisdomTree Europe SmallCap Dividend Fund, WisdomTree International Dividend ex-Financials Fund, WisdomTree International Equity Fund, WisdomTree International High Dividend Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International MidCap Dividend Fund, WisdomTree International Multifactor Fund, WisdomTree International Quality Dividend Growth Fund, WisdomTree International SmallCap Dividend Fund and WisdomTree Japan SmallCap Dividend Fund and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of WisdomTree Europe Quality Dividend Growth Fund, WisdomTree Europe SmallCap Dividend Fund, WisdomTree International Dividend ex-Financials Fund, WisdomTree International Equity Fund, WisdomTree International High Dividend Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International MidCap Dividend Fund, WisdomTree International Multifactor Fund, WisdomTree International Quality Dividend Growth Fund, WisdomTree International SmallCap Dividend Fund and WisdomTree Japan SmallCap Dividend Fund (collectively referred to as the “Funds”), (eleven of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments, as of March 31, 2020, and the related statements of operations, and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (eleven of the funds constituting WisdomTree Trust) at March 31, 2020, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

 

       
Individual fund constituting the WisdomTree Trust    Statement of
operations
   Statements of changes
in net assets
   Financial highlights

WisdomTree Europe Quality Dividend Growth Fund

WisdomTree Europe SmallCap Dividend Fund

WisdomTree International Dividend ex-Financials Fund

WisdomTree International Equity Fund

WisdomTree International High Dividend Fund

WisdomTree International LargeCap Dividend Fund

WisdomTree International MidCap Dividend Fund

WisdomTree International SmallCap Dividend Fund

WisdomTree Japan SmallCap Dividend Fund

   For the year ended March 31, 2020    For each of the two years in the period ended March 31, 2020    For each of the five years in the period ended March 31, 2020

WisdomTree International Multifactor Fund

   For the year ended March 31, 2020    For the year ended March 31, 2020 and the period from August 10, 2018 (commencement of operations) through March 31, 2019

WisdomTree International Quality Dividend Growth Fund

   For the year ended March 31, 2020    For each of the two years in the period ended March 31, 2020    For each of the three years in the period ended March 31, 2020 and the period from April 7, 2016 (commencement of operations) through March 31, 2017

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2020, by correspondence with the custodian and brokers or by other appropriate auditing procedures where

 

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Report of Independent Registered Public Accounting Firm (concluded)

 

replies from brokers were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

LOGO

We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 21, 2020

 

WisdomTree Trust      115  


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Trustees and Officers Information (unaudited)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s)
Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

During Past
5 Years

Trustees Who Are Interested Persons of the Trust
Jonathan Steinberg
(1964)
  Trustee, 2005-present; President, 2005-present   Chief Executive Officer, WisdomTree Investments, Inc. and WisdomTree Asset Management since 2005; President, WisdomTree Investments, Inc. and WisdomTree Asset Management from 2012 to 2019.     76     Director, WisdomTree Investments, Inc. and WisdomTree Asset Management.
Trustees Who Are Not Interested Persons of the Trust
David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     76     Trustee, Vericimetry Funds (2011 to 2014).
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner, Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     76     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     76     None

Melinda A. Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     76     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     76     Member of the Board of Governors of Naismith Memorial Basketball Hall of Fame (2001-2016).

 

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Trustees and Officers Information (unaudited) (concluded)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s)
Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

During Past
5 Years

Officers of the Trust

Jonathan Steinberg*****

(1964)

 

President, 2005-

present; Trustee, 2005-present

 

Chief Executive Officer, WisdomTree Investments, Inc. and WisdomTree Asset Management since 2005; President, WisdomTree Investments, Inc. and WisdomTree Asset Management from 2012 to 2019.

    76    

Director, WisdomTree Investments, Inc. and WisdomTree Asset Management, Inc.

David Castano*****

(1971)

  Treasurer, 2013-present  

Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, WisdomTree Asset Management, 2011 to 2020.

    76    

None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present  

Chief Compliance Officer, WisdomTree Asset Management since 2012; Senior Compliance Officer, WisdomTree Asset Management since 2011.

    76    

None

Ryan Louvar*****

(1972)

  Secretary and Chief Legal Officer, 2013-present  

General Counsel, WisdomTree Asset Management since 2013; Vice President and Senior Managing Counsel, State Street, 2005 to 2013.

    76    

None

Joanne Antico*****

(1975)

 

Assistant Secretary,

2018-present

 

Assistant General Counsel, WisdomTree Asset Management since 2016; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.

    76    

None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present  

Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.

    76    

None

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

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Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year ended March 31, 2020, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2021.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2020, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

Europe Quality Dividend Growth Fund

   $ 908,753  

Europe SmallCap Dividend Fund

     23,436,172  

International Dividend ex-Financials Fund

     5,825,159  

International Equity Fund

     24,011,990  

International High Dividend Fund

     8,484,686  

International LargeCap Dividend Fund

     12,253,882  

International MidCap Dividend Fund

     7,546,774  

International Multifactor Fund

     754,345  

International Quality Dividend Growth Fund

     2,162,870  

International SmallCap Dividend Fund

     56,507,468  

Japan SmallCap Dividend Fund

     8,313,966  

The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries during the fiscal year ended March 31, 2020. The gross foreign source income and foreign taxes paid are as follows:

 

     
Fund    Gross Foreign
Income
     Foreign
Taxes Paid
 

Europe Quality Dividend Growth Fund

   $ 1,060,244      $ 85,170  

Europe SmallCap Dividend Fund

     24,354,024        1,897,779  

International Dividend ex-Financials Fund

     7,162,763        376,986  

International Equity Fund

     29,832,096        1,789,612  

International High Dividend Fund

     10,492,785        576,533  

International LargeCap Dividend Fund

     15,189,998        909,883  

International MidCap Dividend Fund

     9,180,896        527,207  

International Multifactor Fund

     895,886        86,810  

International Quality Dividend Growth Fund

     2,500,469        170,490  

International SmallCap Dividend Fund

     62,342,950        4,694,628  

Japan SmallCap Dividend Fund

     8,107,551        861,446  

The following represents the percentage of dividends paid during the fiscal year ended March 31, 2020, that qualify for the 70% dividends received deduction for corporate shareholders:

 

   
Fund    Dividends-Received
Deduction
 

Europe Quality Dividend Growth Fund

     0.18

Europe SmallCap Dividend Fund

     0.37

International Dividend ex-Financials Fund

      

International Equity Fund

     0.06

International High Dividend Fund

     0.04

International LargeCap Dividend Fund

      

International MidCap Dividend Fund

      

International Multifactor Fund

      

International Quality Dividend Growth Fund

     0.17

International SmallCap Dividend Fund

     0.23

Japan SmallCap Dividend Fund

      

 

 

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General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

Previously, the Funds were required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Beginning in April 2019, the Funds ceased filing Form N-Q and commenced filing Form N-PORT. Part F of each Fund’s Form N-PORT filings for the first and third fiscal quarters contain the complete schedule of portfolio holdings in the same manner as previously filed on Form N-Q. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: publicinfo@sec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com.

 

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The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree Investments, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree Investments, its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other information, is available at www.wisdomtree.com, or by calling 1-866-909-WISE (9473). Investors should read the prospectus carefully before investing. There are risks associated with investing, including possible loss of principal. Past performance does not guarantee future results. Indexes are unmanaged and you cannot invest directly in an index.

There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Inflation protected securities do not eliminate risks associated with inflation or deflation. Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting such issuers. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.


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WisdomTree Trust

245 Park Avenue, 35th Floor

New York, NY 10167

 

LOGO

 

LOGO

 

WisdomTree Fund shares are distributed by Foreside Fund Services, LLC, in the U.S. only.

WTGM-3607


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Item 2.

Code of Ethics.

 

  (a)

The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.

 

  (c)

There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description.

 

  (d)

The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions.

 

  (f)

The code of ethics is attached hereto as exhibit 13(a)(1).

 

Item 3.

Audit Committee Financial Expert.

The registrant’s Board of Trustees has determined that the registrant has one audit committee financial expert, as that term is defined under Item 3(b) and 3(c), serving on its audit committee. The audit committee financial expert serving on the registrant’s audit committee is David Chrencik, who is an independent trustee of the registrant, as that term is defined under Item 3(a) (2).

 

Item 4.

Principal Accountant Fees and Services.

Audit Fees

 

  (a)

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $1,056,224 for 2020 and $987,203 for 2019.

Audit-Related Fees

 

  (b)

The aggregate fees billed for each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $101,500 for 2020 and $88,580 for 2019.


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Tax Fees
  (c)   The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were $360,318 for 2020 and $441,140 for 2019.
All Other Fees
           (d)   The aggregate fees billed for each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for 2020 and $0 for 2019.
  (e)(1)   Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
    Per Rule 2-01(c) (7) (A), the registrant’s audit committee charter provides that the audit committee shall select and approve in advance the retention of independent accountants to annually audit and provide their opinion on the registrant’s financial statements. The audit committee must also approve prior to appointment the engagement of the principal accountant to provide other audit services to the registrant or to provide non-audit services to the registrant, its investment adviser, or any entity controlling, controlled by, or under common control with its investment adviser (“adviser/affiliate”) that provides ongoing services to the registrant, if the engagement by the investment adviser or adviser affiliate relates directly to the operations and financial reporting of the registrant. The audit committee must also, prior to appointment of the engagement of the principal accountant, review and approve the fees proposed to be charged to the registrant by the auditors for each audit and non-audit service. The audit committee must also consider whether non-audit services provided by the registrant’s principal accountant to the registrant’s investment adviser, or adviser/affiliate that provides ongoing services to the registrant are compatible with maintaining the auditor’s independence.
  (e)(2)   The registrant’s audit committee has approved 100% of services described in each of Items 4(b) through (d) pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
  (f)   The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was 0%.
  (g)   The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant was $360,318 for 2020 and $441,140 for 2019.
  (h)   Not applicable.


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Item 5.

Audit Committee of Listed Registrants.

The registrant is an issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and has a separately-designated standing audit committee established in accordance with Section 3(a)(58)A of the Exchange Act. The registrant’s audit committee members are David Chrencik, Melinda Raso Kirstein and Victor Ugolyn.

 

Item 6.

Investments.

 

(a)

Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form.

 

(b)

Not applicable.

 

Item 7.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

 

Item 8.

Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

 

Item 9.

Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

 

Item 10.

Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

 

Item 11.

Controls and Procedures.

 

  (a)

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).


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  (b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

 

       (a)(1)   Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto.
  (a)(2)   Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.
  (a)(3)   Not applicable.
  (a)(4)   Not applicable.
  (b)   Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

 


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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)   WisdomTree Trust                                           
By (Signature and Title)   /s/ Jonathan Steinberg                                    
  Jonathan L. Steinberg, President
  (principal executive officer)

Date: May 29, 2020

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)   /s/ Jonathan Steinberg                                        
  Jonathan L. Steinberg, President
  (principal executive officer)
Date: May 29, 2020  
By (Signature and Title)   /s/ David Castano                                                 
  David Castano, Treasurer
  (principal financial officer)

Date: May 29, 2020

EX-99.CODE ETH

WISDOMTREE TRUST

CODE OF ETHICS

FOR PRINCIPAL EXECUTIVE AND FINANCIAL OFFICERS

 

I.

PURPOSE OF THE CODE

The WisdomTree Trust (the “Trust”) Code of Ethics for Principal Executive and Financial Officers (this “Code”) is intended to serve as the code of ethics described in Section 406 of the Sarbanes-Oxley Act of 2002 and Item 2 of Form N-CSR. This Code shall be the sole code of ethics adopted by the Trust for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Trust, the Trust’s adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers, as defined herein, who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Trust’s and its investment adviser’s, and principal underwriter’s codes of ethics pursuant to Rule 17j-1 under the Investment Company Act of 1940 (the “1940 Act”) are separate requirements applying to the Covered Officers and others, and are not part of this Code.

All Covered Officers must become familiar and fully comply with this Code. Because this Code cannot and does not cover every applicable law or provide answers to all questions that might arise, all Covered Officers are expected to use common sense about what is right and wrong, including a sense of when it is proper to seek guidance from others on the appropriate course of conduct.

The purpose of this Code is to set standards for the Covered Officers that are reasonably designed to deter wrongdoing and to promote:

 

   

honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

 

   

full, fair, accurate, timely, and understandable disclosure in reports and documents that the Trust files with, or submits to, the Securities and Exchange Commission (the “SEC”) and in any other public communications by the Trust;

 

   

compliance with applicable governmental laws, rules and regulations;

 

   

the prompt internal reporting of violations of the Code to the appropriate persons as set forth in the Code; and

 

   

accountability for adherence to the Code.


II.

COVERED PERSONS

This Code applies to the Trust’s Principal Executive Officers and Principal Financial Officers, or any persons performing similar functions on behalf of the Trust (the “Covered Officers”). Each Covered Person should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest. Covered Officers are expected to act in accordance with the standards set forth in this Code.

 

III.

HONEST AND ETHICAL CONDUCT

 

  A.

Honesty, Diligence and Professional Responsibility

Covered Officers are expected to observe both the form and the spirit of the ethical principles contained in this Code. Covered Officers must perform their duties and responsibilities for the Trust:

 

   

with honesty, diligence, and a commitment to professional and ethical responsibility;

 

   

carefully, thoroughly and in a timely manner; and

 

   

in conformity with applicable professional and technical standards.

Covered Officers who are certified public accountants are expected to carry out their duties and responsibilities in a manner consistent with the principles governing the accounting profession, including any guidelines or principles issued by the Public Company Accounting Oversight Board or the American Institute of Certified Public Accountants from time to time.

 

  B.

Objectivity/Avoidance of Undisclosed Conflicts of Interest

Covered Officers are expected to maintain objectivity and avoid undisclosed conflicts of interest. In the performance of their duties and responsibilities for the Trust, Covered Officers must not subordinate their judgment to personal gain and advantage, or be unduly influenced by their own interests or by the interests of others. Covered Officers must avoid participation in any activity or relationship that constitutes a conflict of interest unless that conflict has been completely disclosed to affected parties and waived by the Trustees on behalf of the Trust. Further, Covered Officers should avoid participation in any activity or relationship that could create the appearance of a conflict of interest.

A conflict of interest would generally arise if, for instance, a Covered Officer directly or indirectly participates in any investment, interest, association, activity or relationship that may impair or appear to impair the Covered Officer’s objectivity or interfere with the interests of, or the Covered Officer’s service to, the Trust.

 

2


Any Covered Officer who may be involved in a situation or activity that might be a conflict of interest or give the appearance of a conflict of interest must report such situation or activity using the reporting procedures set forth in Section VI of this Code.

Each Covered Officer must not:

 

   

use his or her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Trust whereby the Covered Officer would benefit personally to the detriment of the Trust;

 

   

cause the Trust to take action, or fail to take actions, for the individual personal benefit of the Covered Officer rather than the benefit of the Trust; or

 

   

use material non-public knowledge of portfolio transactions made or contemplated for the Trust to trade personally or cause others to trade personally in contemplation of the market effect of such transactions.

Each Covered Officer is responsible for his or her compliance with this conflict of interest policy.

 

  C.

Preparation of Financial Statements

Covered Officers must not knowingly make any misrepresentations regarding the Trust’s financial statements or any facts in the preparation of the Trust’s financial statements, and must comply with all applicable laws, standards, principles, guidelines, rules and regulations in the preparation of the Trust’s financial statements. This section is intended to prohibit:

 

   

making, or permitting or directing another to make, materially false or misleading entries in the Trust’s financial statements or records;

 

   

failing to correct the Trust’s financial statements or records that are materially false or misleading when he or she has the authority to record an entry; and

 

   

signing, or permitting or directing another to sign, a document containing materially false or misleading financial information.

Covered Officers must be scrupulous in their application of generally accepted accounting principles. No Covered Officer may (i) express an opinion or state affirmatively that the financial statements or other financial data of the Trust are presented in conformity with generally accepted accounting principles, or (ii) state that he or she is not aware of any material modifications that should be made to such statements or data in order for them to be in conformity with generally accepted accounting principles, if such statements or data contain any departure from generally accepted accounting principles then in effect in the United States.

 

3


Covered Officers must follow the laws, standards, principles, guidelines, rules and regulations established by all applicable governmental bodies, commissions or other regulatory agencies in the preparation of financial statements, records and related information. If a Covered Officer prepares financial statements, records or related information for purposes of reporting to such bodies, commissions or regulatory agencies, the Covered Officer must follow the requirements of such organizations in addition to generally accepted accounting principles.

If a Covered Officer and his or her supervisor have a disagreement or dispute relating to the preparation of financial statements or the recording of transactions, the Covered Officer should take the following steps to ensure that the situation does not constitute an impermissible subordination of judgment:

 

   

The Covered Officer should consider whether (i) the entry or the failure to record a transaction in the records, or (ii) the financial statement presentation or the nature or omission of disclosure in the financial statements, as proposed by the supervisor, represents the use of an acceptable alternative and does not materially misrepresent the facts or result in an omission of a material fact. If, after appropriate research or consultation, the Covered Officer concludes that the matter has authoritative support and/or does not result in a material misrepresentation, the Covered Officer need do nothing further.

 

   

If the Covered Officer concludes that the financial statements or records could be materially misstated as a result of the supervisor’s determination, the Covered Officer should follow the reporting procedures set forth in Section VI of this Code.

 

  D.

Obligations to the Independent Auditor of the Trust

In dealing with the Trust’s independent auditor, Covered Officers must be candid and not knowingly misrepresent facts or knowingly fail to disclose material facts, and must respond to specific inquiries and requests by the Trust’s independent auditor.

Covered Officers must not take any action, or direct any person to take any action, to fraudulently influence, coerce, manipulate or mislead the Trust’s independent auditor in the performance of an audit of the Trust’s financial statements for the purpose of rendering such financial statements materially misleading.

 

IV.

FULL, FAIR, ACCURATE, TIMELY AND UNDERSTANDABLE DISCLOSURE

It is the Trust’s policy to provide full, fair, accurate, timely, and understandable disclosure in reports and documents that the Trust files with, or submits to, the SEC and in any other public communications by the Trust. The Trust has designed and implemented Disclosure Controls and Procedures to carry out this policy.

Covered Officers are expected to familiarize themselves with the disclosure requirements generally applicable to the Trust, and to use their best efforts to promote, facilitate, and prepare full, fair, accurate, timely, and understandable disclosure in all reports and documents that the Trust files with, or submits to, the SEC and in any other public communications by the Trust.

 

4


Covered Officers must review the Trust’s Disclosure Controls and Procedures to ensure they are aware of and carry out their duties and responsibilities in accordance with the Disclosure Controls and Procedures and the disclosure obligations of the Trust. Covered Officers are responsible for monitoring the integrity and effectiveness of the Trust’s Disclosure Controls and Procedures.

 

V.

COMPLIANCE WITH APPLICABLE LAWS, RULES AND REGULATIONS

Covered Officers are expected to know, respect and comply with all laws, rules and regulations applicable to the conduct of the Trust’s business. If a Covered Officer is in doubt about the legality or propriety of an action, business practice or policy, the Covered Officer should seek advice from the Covered Officer’s supervisor or the Trust’s legal counsel.

In the performance of their work, Covered Officers must not knowingly be a party to any illegal activity or engage in acts that are discreditable to the Trust.

Covered Officers are expected to promote the Trust’s compliance with applicable laws, rules and regulations. To promote such compliance, Covered Officers may establish and maintain mechanisms to educate employees carrying out the finance and compliance functions of the Trust about any applicable laws, rules or regulations that affect the operation of the finance and compliance functions and the Trust generally.

 

VI.

REPORTING AND ACCOUNTABILITY

All Covered Officers will be held accountable for adherence to this Code. Each Covered Officer must, upon the Trust’s adoption of this Code (or thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the Board that he/she has received, read, and understands this Code by signing the Acknowledgement Form attached hereto as Appendix A. Thereafter, each Covered Officer, on an annual basis, must affirm to the Board that he/she has complied with the requirements of this Code.

Covered Officers may not retaliate against any other Covered Officer of the Trust or their affiliated persons for reports of potential violations that are made in good faith.

The Trust will follow these procedures in investigating and enforcing this Code:

 

  A.

Any Covered Officer who knows of any violation of this Code or who questions whether a situation, activity or practice is acceptable must immediately report such practice to the Trust’s Audit Committee. The Audit Committee shall take appropriate action to investigate any reported potential violations. If, after such investigation, the Audit Committee believes that no violation has occurred, the Audit Committee is not required to take any further action. Any matter that the Audit Committee believes is a violation will be reported to the Chairman of the Board of Trustees. The Audit Committee shall respond to the Covered Officer within a reasonable period of time.

 

5


  B.

If the Covered Officer is not satisfied with the response of the Audit Committee, the Covered Officer shall report the matter to the Chairman of the Board of Trustees. If the Chairman is unavailable, the Covered Officer may report the matter to any other member of the Board of Trustees. The person receiving the report shall consider the matter, refer it to the full Board of Trustees if he or she deems appropriate, and respond to the Covered Officer within a reasonable amount of time. If the Board of Trustees concurs that a violation has occurred, it will consider appropriate action, which may include review of and appropriate modifications to applicable policies and procedures or notification to appropriate personnel of the investment adviser or its board.

 

  C.

If the Board of Trustees determines that a Covered Officer violated this Code, failed to report a known or suspected violation of this Code, or provided intentionally false or malicious information in connection with an alleged violation of this Code, the Board of Trustees may take disciplinary action against any such Covered Officer to the extent the Board of Trustees deems appropriate. No Covered Officer will be disciplined for reporting a concern in good faith.

To the extent possible and as allowed by law, reports will be treated as confidential. The Trust may report violations of the law to the appropriate authorities.

 

VII.

DISCLOSURE OF THIS CODE

This Code shall be disclosed to the public by at least one of the following methods in the manner prescribed by the SEC, unless otherwise required by law:

 

   

Filing a copy of this Code as an exhibit to the Trust’s annual report on Form N- CSR;

 

   

Posting the text of this Code on the Trust’s Internet website and disclosing, in its most recent report on Form N-CSR, its Internet address and the fact that it has posted this Code on its Internet website; or

 

   

Providing an undertaking in the Trust’s most recent report on Form N-CSR to provide a copy of this Code to any person without charge upon request, and explaining the manner in which such a request may be made.

 

VIII.

  WAIVERS

Any waiver of this Code, including an implicit waiver, granted to a Covered Officer may be made only by the Board of Trustees or a committee of the Board to which such responsibility has been delegated, and must be disclosed by the Trust in the manner prescribed by law and as set forth above in Section VII (Disclosure of this Code).

 

6


IX.

AMENDMENTS

This Code may be amended by the affirmative vote of a majority of the Board of Trustees, including a majority of the independent Trustees. Any amendment of this Code must be disclosed by the Trust in the manner prescribed by law and as set forth above in Section VII (Disclosure of this Code), unless such amendment is deemed to be technical, administrative, or otherwise non-substantive. Any amendments to this Code will be provided to the Covered Officers.

 

X.

CONFIDENTIALITY

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Board of Trustees of the Trust, the Audit Committee, the legal counsel to the Trust, legal counsel to the independent trustees and such other persons as a majority of the Board of Trustees, including a majority of the independent Trustees, shall determine to be appropriate.

Adopted: February 2007

 

7


Appendix A

WISDOMTREE TRUST

Certification and Acknowledgment of Receipt of Code of Ethics for Principal Executive Officers and Principal Financial Officers

I acknowledge and certify that I have received a copy of the WisdomTree Trust’s Code of Ethics for Principal Executive Officers and Principal Financial Officers (the “Code”). I understand and agree that it is my responsibility to read and familiarize myself with the policies and procedures contained in the Code and to abide by those policies and procedures.

I acknowledge and certify that I have read and understand the Code.

 

 

Officer Name (Please Print)       Officer Signature
       
      Date
     

Certification Pursuant to Rule 30a-2(a) under the 1940 Act and

Section 302 of the Sarbanes-Oxley Act

I, Jonathan L. Steinberg, certify that:

 

1.

I have reviewed this report on Form N-CSR of the WisdomTree Trust;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

 

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

  (a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

  (b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

  (c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

 

  (d)

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.

The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of trustees (or persons performing the equivalent functions):

 

  (a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

  (b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: May 29, 2020                                       

/s/ Jonathan Steinberg

                   
      Jonathan L. Steinberg, President   
      (principal executive officer)   


Certification Pursuant to Rule 30a-2(a) under the 1940 Act and

Section 302 of the Sarbanes-Oxley Act

I, David Castano, certify that:

 

1.

I have reviewed this report on Form N-CSR of the WisdomTree Trust;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

 

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

  (a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

  (b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

  (c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

 

  (d)

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.

The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of trustees (or persons performing the equivalent functions):

 

  (a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

  (b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: May 29, 2020                                       

/s/ David Castano

                   
      David Castano, Treasurer   
      (principal financial officer)   

Certification Pursuant to Rule 30a-2(b) under the 1940 Act

and Section 906 of the Sarbanes-Oxley Act

I, Jonathan L. Steinberg, President of the WisdomTree Trust (the “Registrant”), certify that:

 

  1.

The Form N-CSR of the Registrant (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

 

  2.

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

 

Date: May 29, 2020   /s/ Jonathan Steinberg                            
  Jonathan L. Steinberg, President
  (principal executive officer)

I, David Castano, Treasurer of the WisdomTree Trust (the “Registrant”), certify that:

 

  1.

The Form N-CSR of the Registrant (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

 

  2.

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

 

Date: May 29, 2020   /s/ David Castano                                  
  David Castano, Treasurer
  (principal financial officer)