Form990-PF
Click to see attachment
Click to see attachmentClick to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
BILL & MELINDA GATES FOUNDATION TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 23350
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SEATTLE, WA98102
A Employer identification number

91-1663695
B Telephone number (see instructions)

(206) 709-3100
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$53,927,171,316J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 5,415,183,628
2 Check bullet.............
3 Interest on savings and temporary cash investments 150,411 150,411  
4 Dividends and interest from securities... 658,049,307 674,562,119  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,369,272,759
b Gross sales price for all assets on line 6a 94,242,816,053
7 Capital gain net income (from Part IV, line 2)... 7,923,688,903
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 137,352,950 58,419,895  
12 Total. Add lines 1 through 11........ 9,580,009,055 8,656,821,328  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 465,178 465,178   0
c Other professional fees (attach schedule).... Click to see attachment 89,245,032 89,245,032   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 148,637,201 26,610,304   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 64 0   64
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 238,347,475 116,320,514   64
25 Contributions, gifts, grants paid....... 6,131,700,000 5,518,530,000
26 Total expenses and disbursements. Add lines 24 and 25 6,370,047,475 116,320,514   5,518,530,064
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 3,209,961,580
b Net investment income (if negative, enter -0-) 8,540,500,814
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 269,546 118,950 118,950
2 Savings and temporary cash investments......... 888,519,489 891,127,326 891,127,326
3 Accounts receivable bullet81,736,132
Less: allowance for doubtful accounts bullet   77,005,106 81,736,132 81,736,132
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 6,202,772,221 Click to see attachment5,439,267,242 5,439,267,242
b Investments—corporate stock (attach schedule)....... 36,492,775,344 Click to see attachment37,687,795,228 37,687,795,228
c Investments—corporate bonds (attach schedule)....... 1,164,468,079 Click to see attachment912,314,999 912,314,999
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 6,126,287,149 Click to see attachment8,914,811,439 8,914,811,439
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment44,066,554 Click to see attachment0 Click to see attachment0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 50,996,163,488 53,927,171,316 53,927,171,316
Liabilities 17 Accounts payable and accrued expenses.......... 4,255,403 9,610,079
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment1,048,034,946 Click to see attachment659,497,047
23 Total liabilities (add lines 17 through 22)......... 1,052,290,349 669,107,126
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 49,943,873,139 53,258,064,190
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 49,943,873,139 53,258,064,190
30 Total liabilities and net assets/fund balances (see instructions). 50,996,163,488 53,927,171,316
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
49,943,873,139
2
Enter amount from Part I, line 27a .....................
2
3,209,961,580
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
104,229,471
4
Add lines 1, 2, and 3 ..........................
4
53,258,064,190
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
53,258,064,190
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a EQUITIES P 2021-01-01 2021-12-31
b EQUITIES D 2021-01-01 2021-12-31
c FIXED INCOME P 2021-01-01 2021-12-31
d CASH EQUIVALENTS P 2021-01-01 2021-12-31
e SWAPS P 2021-01-01 2021-12-31
OPTIONS P 2021-01-01 2021-12-31
IRC SEC. 1256 LOSS ON FUTURES P 2021-01-01 2021-12-31
IRC SEC. 1256 GAIN ON NON-EQUITY OPTIONS P 2021-01-01 2021-12-31
NET IRC. SECTION 1256 LOSS ON IDENTIFIED MIXED STRADDLES P 2021-01-01 2021-12-31
NET SHORT-TERM GAIN ON IDENTIFIED MIXED STRADDLES P 2021-01-01 2021-12-31
LP DISTRIBUTION IN EXCESS OF BASIS P 2021-01-01 2021-12-31
CLASS ACTION INCOME P 2021-01-01 2021-12-31
WASH SALES DEFERRAL ADJUSTMENT P 2021-01-01 2021-12-31
CAPITAL GAIN/(LOSS) PER K-1S P 2020-01-01 2021-12-31
CAPITAL GAIN/(LOSS) FROM INVESTMENT DISPOSITION DUE TO A FINAL YEAR K-1 P 2021-01-01 2021-12-31
ADJUSTMENT FOR SECTION 1202 ELIGIBLE GAIN EXCLUSION FROM SALE OF DOORDASH D 2008-08-29 2021-12-31
ADJUSTMENT FOR SECTION 1202 ELIGIBLE GAIN EXCLUSION FROM SALE OF OPENDOOR T D 2014-04-11 2021-12-31
ADJUSTMENT FOR SECTION 1202 ELIGIBLE GAIN EXCLUSION FROM SALE OF UPSTART HO D 2012-01-10 2021-12-31
ADJUSTMENT FOR SECTION 1202 ELIGIBLE GAIN EXLCLUSION FROM SALE OF COLLEGIUM P 2013-12-04 2021-12-31
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 9,010,467,884   6,194,540,384 2,815,927,500
b 6,400,942,803   212,518,403 6,188,424,400
c 45,239,646,401   45,183,546,798 56,099,603
d 33,269,368,159   33,269,368,159 0
e     97,926,596 -97,926,596
12,408,944     12,408,944
    1,331,642,249 -1,331,642,249
32,734     32,734
    288,546 -288,546
11,858,260     11,858,260
142,540     142,540
2,103,414     2,103,414
4,008,517     4,008,517
291,660,642     291,660,642
175,755     175,755
    10,000,000 -10,000,000
    10,000,000 -10,000,000
    9,194,888 -9,194,888
    101,127 -101,127
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       2,815,927,500
b       6,188,424,400
c       56,099,603
d       0
e       -97,926,596
      12,408,944
      -1,331,642,249
      32,734
      -288,546
      11,858,260
      142,540
      2,103,414
      4,008,517
      291,660,642
      175,755
      -10,000,000
      -10,000,000
      -9,194,888
      -101,127
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 7,923,688,903
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 118,712,961
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 118,712,961
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 113,906,990
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 40,000,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 153,906,990
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 35,194,029
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet35,194,029 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletWA, CA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions Click to see list of attachments.............
    11
    Yes
     
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.GATESFOUNDATION.ORG
    14
    The books are in care ofbulletJENNIFER DEGER Telephone no.bullet (206) 709-3100

    Located atbullet500 FIFTH AVENUE NORTHSEATTLEWA ZIP+4bullet98109
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16Yes  
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bulletAR, BR, CI, CH, CO, EZ, DA, EG, GH, GR, HK, HU, IN, ID, IS, JA, KS, MY, RP, PL, QA, TW, TH, TU, UK, UY, VM
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
    Yes
     
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
    Yes
     
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    WILLIAM H GATES III TRUSTEE AND CEO
    5.00     		0 0 0
    500 FIFTH AVENUE NORTH
    SEATTLE,WA98109
    MELINDA FRENCH GATES TRUSTEE
    3.00     		0 0 0
    500 FIFTH AVENUE NORTH
    SEATTLE,WA98109
    CAROLYN AINSLIE CHIEF FINANCIAL OFFICER
    4.00     		0 0 0
    500 FIFTH AVENUE NORTH
    SEATTLE,WA98109
    KEITH TRAVERSE SECRETARY
    1.00     		0 0 0
    500 FIFTH AVENUE NORTH
    SEATTLE,WA98109
    CONNIE COLLINGSWORTH ASSISTANT SECRETARY (START 4/1/2021)
    1.00     		0 0 0
    500 FIFTH AVENUE NORTH
    SEATTLE,WA98109
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    MARATHON ASSET MANAGEMENT LLP INVESTMENT MANAGEMENT 12,525,796
    ONE BRYANT PARK 38TH FLOOR
    NEW YORK,NY10036
    GREEN COURT CAPITAL MANAGEMENT LIMITED INVESTMENT MANAGEMENT 12,327,639
    STES 4007-4008 8 CONNAUGHT PALACE
    HONG KONG   12345
    CH
    MORANT WRIGHT MANAGEMENT LIMITED INVESTMENT MANAGEMENT 10,719,720
    43 ST JAMESS PLACE
    LONDON   SW1A 1NS
    UK
    WESTWOOD GLOBAL INVESTMENT MANAGEMENT 8,803,963
    ONE FINANCIAL CENTER SUITE 1620
    BOSTON,MA02111
    CITY OF LONDON INVESTMENT MANAGEMENT CO LTD INVESTMENT MANAGEMENT 7,954,581
    77 GRACECHURCH STREET
    LONDON   EC3V 0AS
    UK
    Total number of others receiving over $50,000 for professional services.............bullet17
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    48,873,136,713
    b
    Average of monthly cash balances.......................
    1b
    563,690,711
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,838,424,644
    d
    Total (add lines 1a, b, and c).........................
    1d
    51,275,252,068
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    51,275,252,068
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    769,128,781
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    50,506,123,287
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    2,525,306,164
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    2,525,306,164
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    118,712,961
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    118,712,961
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,406,593,203
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,406,593,203
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    2,406,593,203
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 2,406,593,203
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 277,241,938
    b From 2017...... 359,108,763
    c From 2018...... 446,574,743
    d From 2019...... 2,926,408,650
    e From 2020...... 3,555,694,340
    f Total of lines 3a through e ........ 7,565,028,434
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 5,518,530,064
    a Applied to 2020, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 2,406,593,203
    e Remaining amount distributed out of corpus 3,111,936,861
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 10,676,965,295
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		277,241,938
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		10,399,723,357
    10 Analysis of line 9:
    a Excess from 2017.... 359,108,763
    b Excess from 2018.... 446,574,743
    c Excess from 2019.... 2,926,408,650
    d Excess from 2020.... 3,555,694,340
    e Excess from 2021.... 3,111,936,861
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    WILLIAM H GATES III
    MELINDA FRENCH GATES
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    BILL & MELINDA GATES FOUNDATION
    500 FIFTH AVENUE NORTH
    SEATTLE,WA98109     		NOT APPLICABLE PF: 509(A) TO FUND THE CHARITABLE PURPOSES OF THE FOUNDATION 6,131,700,000
    BILL & MELINDA GATES FOUNDATION
    500 FIFTH AVENUE NORTH
    SEATTLE,WA98109     		NOT APPLICABLE PF: 509(A) PORTION OF GRANTS PAID TREATED AS A DISTRIBUTION OF CORPUS UNDER TREAS. REG. 53.4942(A)-3 -613,170,000
    Total .................................bullet 3a 5,518,530,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 150,411  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 2,786,887,868  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 3,582,440,536 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,582,440,536
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    BILL & MELINDA GATES FOUNDATION TRUST
     
    Employer identification number

    91-1663695
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    BILL & MELINDA GATES FOUNDATION TRUST
          		Employer identification number
    91-1663695
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    MELINDA FRENCH GATES - SECURITIES
     
    15120 NE 92ND STREET
     
    REDMOND, WA98502

    		$ 1,991,978,238


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    WILLIAM H GATES III - SECURITIES
     
    2365 CARILLON POINT
     
    KIRKLAND, WA98033

    		$ 127,549,415


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    WILLIAM H GATES III
     
    2365 CARILLON POINT
     
    KIRKLAND, WA98033

    		$ 23,202,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    WILLIAM H GATES III - INVST MGMT FEES
     
    2365 CARILLON POINT
     
    KIRKLAND, WA98033

    		$ 78,349,144


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    WARREN E BUFFETT - SECURITIES
     
    1440 KIEWIT PLAZA
     
    OMAHA, NE68131

    		$ 3,194,103,267


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    BILL & MELINDA GATES FOUNDATION TRUST
          		Employer identification number

    91-1663695
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 MARKETABLE SECURITIES $ 1,991,978,238 2021-12-31
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    2
    		 MARKETABLE SECURITIES $ 127,549,415 2021-12-31
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    5
    		 11,582,280 CLASS B SHARES OF BERKSHIRE HATHAWAY INC. $ 3,194,103,267 2021-06-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    BILL & MELINDA GATES FOUNDATION TRUST
          		Employer identification number

    91-1663695
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX AND ACCOUNTING SERVICES 465,178 465,178   0

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    TCI FOUNDATION
          		TCI HOUSE 69 INSTITUTIONAL AREA
    SECTOR 32
    GURGAON HR   122001
    IN     		2003-12-23 12,267,588 HIV 13,254,774 NO 08/09, 07/10, 10/11, 12/12, 9/13, 9/14, 7/15, 5/16, 07/17, 06/18, 05/19    
    BILL & MELINDA GATES FOUNDATION
          		500 FIFTH AVENUE NORTH
    SEATTLE,WA98109     		2019-01-01 5,851,675,000 TO PROVIDE FUNDS FOR GRANTMAKING, PROGRAM RELATED INVESTMENTS, DIRECT CHARITABLE EXPENDITURES, CAPITAL EXPENDITURES, ADMINISTRATIVE EXPENSES AND ANY OTHER PURPOSE PERMITTED UNDER THE DECLARATION OF TRUST. 5,851,675,000 NO 11/10/20, 11/04/21    
    BILL & MELINDA GATES FOUNDATION
          		500 FIFTH AVENUE NORTH
    SEATTLE,WA98109     		2020-01-01 6,755,162,810 TO PROVIDE FUNDS FOR GRANTMAKING, PROGRAM RELATED INVESTMENTS, DIRECT CHARITABLE EXPENDITURES, CAPITAL EXPENDITURES, ADMINISTRATIVE EXPENSES AND ANY OTHER PURPOSE PERMITTED UNDER THE DECLARATION OF TRUST. 6,755,162,810 NO 11/04/21, 11/09/22    
    BILL & MELINDA GATES FOUNDATION
          		500 FIFTH AVENUE NORTH
    SEATTLE,WA98109     		2021-01-01 6,131,700,000 TO PROVIDE FUNDS FOR GRANTMAKING, PROGRAM RELATED INVESTMENTS, DIRECT CHARITABLE EXPENDITURES, CAPITAL EXPENDITURES, ADMINISTRATIVE EXPENSES AND ANY OTHER PURPOSE PERMITTED UNDER THE DECLARATION OF TRUST. 6,131,700,000 NO 11/09/22    

    TY 2021 GeneralExplanationAttachment
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Identifier Return Reference Explanation
      FORM 990-PF, PART VI-A, LINE 11 - LIST OF CONTROLLED ENTITIES THE GLOBAL GOOD FUND I LLC27-27968383150 139TH AVE SEBELLEVUE, WA 98005EXCESS BUSINESS HOLDING: NOGREENBRIAR EQUITY FUND III-A, LP46-1543216555 THEODORE FREMD AVE, STE. A-201RYE, NY 10580EXCESS BUSINESS HOLDING: NOGREENBRIAR EQUITY FUND III AIV NV, LP98-1208417555 THEODORE FREMD AVE, STE. A-201RYE, NY 10580EXCESS BUSINESS HOLDING: NOGREENBRIAR EQUITY FUND III AIV SK NV, LP47-3805287555 THEODARE FREMD AVE, STE. A-201RYE, NY 10580EXCESS BUSINESS HOLDING: NOGREENBRIAR EQUITY FUND III-A AIV WFCI, LP98-1219020555 THEODORE FREMD AVE, STE. A-201RYE, NY 10580EXCESS BUSINESS HOLDING: NOGREENBRIAR EQUITY FUND III AIV MM NV, LP81-1112433555 THEODORE FREMD AVE, STE. A-201RYE, NY 10580EXCESS BUSINESS HOLDING: NOGREENBRIAR AS, LP98-1208754555 THEODORE FREMD AVE, STE. A-201RYE, NY 10580EXCESS BUSINESS HOLDING: NOGREENBRIAR AS HOLDING, LP98-1208908555 THEODORE FREMD AVE, STE. A-201RYE, NY 10580EXCESS BUSINESS HOLDING: NOCHROMIUM FUND LP87-1458828712 FIFTH AVE, SUITE 17FNEW YORK, NY 10019EXCESS BUSINESS HOLDING: NO
      PART VI-B, LINE 5C - GRANTS TO THE BILL & MELINDA GATES FOUNDATION OF TOTAL $6,131,700,000 EXPENDITURE RESPONSIBILITY GRANT MADE TO THE BILL & MELINDA GATES FOUNDATION, $5,518,530,000 WAS A QUALIFYING DISTRIBUTION OF INCOME BY THE BILL & MELINDA GATES FOUNDATION TRUST. THE BILL & MELINDA GATES FOUNDATION HAS MET ALL REQUIRED COMPLIANCE WITH THE OUT OF CORPUS DISTRIBUTION RULES (TREAS. REG. 53.4942(A)3(D)(2)). GRANTS TREATED AS QUALIFYING DISTRIBUTIONS OF INCOME WITH RESPECT TO BILL & MELINDA GATES FOUNDATION TRUST MAY NOT BE USED BY THE BILL & MELINDA GATES FOUNDATION TO MEET THAT FOUNDATION'S REQUIRED MINIMUM DISTRIBUTION OF INCOME (TREAS. REG.53.4942(A)3). THESE FUNDS MUST BE REDISTRIBUTED AS REQUIRED OUT OF CORPUS DISTRIBUTIONS. ALL OUT OF CORPUS AND EXPENDITURE RESPONSIBILTY REPORTS FOR TAX YEAR ENDING 12/31/2021 HAVE BEEN RECEIVED.BILL & MELINDA GATES FOUNDATION IS PROVIDING OVERSIGHT ON ALL ERGRANTS MADE BY THE BILL & MELINDA GATES FOUNDATION TRUST OUTSTANDING AS OF 2006 UNTIL THE FINAL GRANT REPORT IS RECEIVED.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Name of Bond End of Year Book Value End of Year Fair Market Value
    1011778 BC / NEW RED FIN 260,320 260,320
    3M COMPANY 1,708,246 1,708,246
    ABBOTT LABORATORIES 1,084,714 1,084,714
    ABBVIE INC 6,062,029 6,062,029
    ABN AMRO BANK NV 359,319 359,319
    ADELPHIA COMMUNICATIONS CORP 7,750 7,750
    ADOBE INC 1,217,472 1,217,472
    ADVENT HEALTH SYSTEM 910,911 910,911
    AERCAP IRELAND CAP/GLOBA 3,264,681 3,264,681
    AETNA INC 1,198,888 1,198,888
    AIR CANADA 2015 1A PTT 667,947 667,947
    AIR CANADA 2020 2A PTT 2,350,488 2,350,488
    AIR LEASE CORP 281,843 281,843
    ALBION FINANCING 1SARL / 859,424 859,424
    ALFA S.A. 285,865 285,865
    ALLY FINANCIAL INC 23,342,854 23,342,854
    ALPHABET INC 785,148 785,148
    ALTICE FINANCING SA 807,227 807,227
    ALTICE FRANCE SA 616,173 616,173
    AMAZON.COM INC 4,990,487 4,990,487
    AMBAC ASSURANCE CORP 20,741 20,741
    AMC ENTERTAINMENT HLDGS 1,571,940 1,571,940
    AMERICAN EXPRESS CO 2,741,055 2,741,055
    AMERICAN HONDA FINANCE 8,645,129 8,645,129
    AMERICAN INTL GROUP 237,254 237,254
    AMGEN INC 179,073 179,073
    ANGLO AMERICAN CAPITAL 3,407,269 3,407,269
    ANHEUSER BUSCH INBEV WOR 855,762 855,762
    ANTHEM INC 383,588 383,588
    APACHE CORP 2,732,609 2,732,609
    APCOA PARKING HOLDINGS G 1,352,972 1,352,972
    APPALACHIAN POWER CO 6,580,448 6,580,448
    APPLE INC 5,573,399 5,573,399
    AQUARION CO 588,342 588,342
    ARCELORMITTAL 1,177,897 1,177,897
    ASTON MARTIN CAPITAL HOL 935,000 935,000
    AT+T INC 4,599,109 4,599,109
    ATLAS LUXCO 4 / ALL UNI 1,511,487 1,511,487
    AVIATION CAPITAL GROUP 875,477 875,477
    BAE SYSTEMS HOLDINGS INC 637,297 637,297
    BAE SYSTEMS PLC 930,572 930,572
    BALL CORP 375,250 375,250
    BANCO MERCANTIL DE NORTE 214,699 214,699
    BANCO SANTANDER SA 2,867,988 2,867,988
    BANK OF AMERICA CORP 27,842,233 27,842,233
    BANK OF MONTREAL 791,853 791,853
    BANK OF NOVA SCOTIA 1,264,221 1,264,221
    BANK OF NY MELLON CORP 232,208 232,208
    BARCLAYS BANK PLC 311,052 311,052
    BARCLAYS PLC 228,298 228,298
    BCP MODULAR SERVICES 1,549,830 1,549,830
    BECTON DICKINSON AND CO 1,474,167 1,474,167
    BHP BILLITON FIN USA LTD 49,140 49,140
    BLACKSTONE HOLDINGS FINA 1,984,945 1,984,945
    BLUE CROSS BLUE SHIELD M 949,302 949,302
    BNP PARIBAS 3,233,522 3,233,522
    BOEING CO 21,525,194 21,525,194
    BOPARAN FINANCE PLC 1,401,009 1,401,009
    BOSTON PROPERTIES LP 767,304 767,304
    BP CAP MARKETS AMERICA 3,688,098 3,688,098
    BP CAPITAL MARKETS PLC 752,769 752,769
    BPCE SA 3,482,720 3,482,720
    BRISTOL MYERS SQUIBB CO 3,082,249 3,082,249
    BRITISH AIR 20 1 A PTT 1,851,604 1,851,604
    BRITISH AIR 21 1 A PPT 5,044,493 5,044,493
    BROADCOM INC 2,491,913 2,491,913
    BRUNELLO BIDCO SPA 1,135,080 1,135,080
    CALIFORNIA INSTITUTE OF 339,492 339,492
    CAMERON LNG LLC 542,655 542,655
    CANADIAN IMPERIAL BANK 420,550 420,550
    CAPITAL ONE FINANCIAL CO 1,206,377 1,206,377
    CARGILL INC 403,171 403,171
    CARLSON TRAVEL 2,247,448 2,247,448
    CARRIER GLOBAL CORP 275,729 275,729
    CCO HLDGS LLC/CAP CORP 1,758,829 1,758,829
    CENTERPOINT ENERGY INC 5,248,129 5,248,129
    CGG SA 845,650 845,650
    CHARLES SCHWAB CORP 700,663 700,663
    CHARTER COMM OPT LLC/CAP 14,277,118 14,277,118
    CHENIERE CORP CHRISTI HD 327,404 327,404
    CHENIERE ENERGY INC 370,125 370,125
    CHENIERE ENERGY PARTNERS 780,900 780,900
    CHEVRON CORP 2,141,581 2,141,581
    CHEVRON USA INC 1,063,555 1,063,555
    CHUBB INA HOLDINGS INC 96,540 96,540
    CIDRON AIDA FINCO SARL 1,003,140 1,003,140
    CIGNA CORP 5,207,354 5,207,354
    CINTAS CORPORATION NO. 2 1,911,466 1,911,466
    CITIGROUP INC 24,819,649 24,819,649
    CLEVELAND ELECTRIC ILLUM 1,717,503 1,717,503
    COCA COLA CO/THE 769,671 769,671
    COMCAST CORP 5,945,715 5,945,715
    COMMONSPIRIT HEALTH 1,387,386 1,387,386
    CON EDISON CO OF NY INC 667,400 667,400
    CONOCOPHILLIPS 1,532,631 1,532,631
    CONTINENTAL RESOURCES 2,513,378 2,513,378
    COOPERATIEVE RABOBANK UA 5,143,166 5,143,166
    COSTCO WHOLESALE CORP 1,288,504 1,288,504
    COTERRA ENERGY INC 3,378,550 3,378,550
    CPUK FINANCE LTD 902,341 902,341
    CREDIT AGRICOLE LONDON 350,826 350,826
    CREDIT SUISSE GROUP AG 1,728,409 1,728,409
    CREDIT SUISSE NEW YORK 3,801,622 3,801,622
    CVS HEALTH CORP 4,035,093 4,035,093
    CVS PASS THROUGH TRUST 878,721 878,721
    CVS PASS THRU TR 2009 545,451 545,451
    CWT TRAVEL GROUP INC 276,714 276,714
    DAIMLER FINANCE NA LLC 1,403,116 1,403,116
    DAIWA SECURITIES GROUP 302,241 302,241
    DANSKE BANK A/S 3,045,443 3,045,443
    DELTA AIR LINES 2020 AA 14,383,103 14,383,103
    DELTA AIR LINES INC 5,773,630 5,773,630
    DELTA AIR LINES/SKYMILES 1,295,261 1,295,261
    DEVON ENERGY CORPORATION 3,471,596 3,471,596
    DIAMONDBACK ENERGY INC 1,912,540 1,912,540
    DIGITAL REALTY TRUST LP 1,197,066 1,197,066
    DIGNITY HEALTH 419,965 419,965
    DISH DBS CORP 81,232 81,232
    DOLLAR GENERAL CORP 40,969 40,969
    DOMINION ENERGY INC 6,440,080 6,440,080
    DUKE ENERGY CORP 4,181,013 4,181,013
    DUKE ENERGY PROGRESS LLC 1,199,041 1,199,041
    EAST OHIO GAS CO/THE 937,364 937,364
    EATON CORP 2,638,335 2,638,335
    ECOPETROL SA 2,123,424 2,123,424
    EDISON INTERNATIONAL 2,948,233 2,948,233
    EG GLOBAL FINANCE PLC 1,140,043 1,140,043
    EL PASO NATURAL GAS 329,518 329,518
    ELI LILLY + CO 977,393 977,393
    ENERGIA GRP/ENERGIA ROI 884,972 884,972
    ENERGY TRANSFER LP 6,586,500 6,586,500
    ENRGY TRANS LP/REG FIN 859,047 859,047
    ENTERGY LOUISIANA LLC 4,152,771 4,152,771
    ENTERPRISE PRODUCTS OPER 5,034,314 5,034,314
    EOG RESOURCES INC 1,617,003 1,617,003
    EQT CORP 2,468,475 2,468,475
    EQUATE PETROCHEMICAL BV 608,377 608,377
    EQUITABLE FINANCIAL LIFE 951,611 951,611
    ERICSSON LM 695,740 695,740
    ERP OPERATING LP 1,044,755 1,044,755
    ESC LEHMAN BRTH HLDH PROD 963 963
    EXELON CORP 825,095 825,095
    EXELON GENERATION CO LLC 4,024,926 4,024,926
    EXPLORER II AS 105,946 105,946
    EXXON MOBIL CORPORATION 5,359,472 5,359,472
    FABRIC BC SPA 1,427,767 1,427,767
    FERGUSON FINANCE PLC 1,115,189 1,115,189
    FIRSTENERGY CORP 5,939,916 5,939,916
    FORD MOTOR COMPANY 1,146,880 1,146,880
    FORD MOTOR CREDI 430,330 430,330
    FORD MOTOR CREDIT CO LLC 26,866,603 26,866,603
    FOX CORP 386,903 386,903
    FREEPORT MCMORAN INC 1,949,164 1,949,164
    GALAPAGOS SA 256 256
    GE CAPITAL INTL FUNDING 2,041,265 2,041,265
    GENERAL DYNAMICS CORP 1,992,613 1,992,613
    GENERAL MOTORS CO 1,193,372 1,193,372
    GENERAL MOTORS FINL CO 16,641,878 16,641,878
    GFL ENVIRONMENTAL INC 349,841 349,841
    GILEAD SCIENCES INC 898,453 898,453
    GLENCORE FUNDING LLC 3,885,735 3,885,735
    GLP CAPITAL LP / FIN II 133,445 133,445
    GOLDMAN SACHS GROUP INC 6,341,562 6,341,562
    GUARDIAN LIFE GLOB FUND 158,542 158,542
    H+E EQUIPMENT SERVICES 1,627,700 1,627,700
    HACKENSACK MERIDIAN HLTH 356,031 356,031
    HALLIBURTON CO 425,070 425,070
    HANESBRANDS INC 84,636 84,636
    HCA INC 7,274,469 7,274,469
    HEALTHCARE TRUST OF AMER 1,011,515 1,011,515
    HERSHEY COMPANY 118,462 118,462
    HILTON DOMESTIC OPERATIN 576,225 576,225
    HOME DEPOT INC 4,668,991 4,668,991
    HONEYWELL INTERNATIONAL 291,283 291,283
    HOUSE OF FRASER FUNDING 33,523 33,523
    HP INC 1,637,854 1,637,854
    HSBC HOLDINGS PLC 4,289,335 4,289,335
    HUMANA INC 3,352,221 3,352,221
    HYUNDAI CAPITAL AMERICA 14,075,080 14,075,080
    IBM CORP 1,117,933 1,117,933
    INFOR INC 786,451 786,451
    INTEL CORP 618,306 618,306
    INTESA SANPAOLO SPA 2,808,147 2,808,147
    INTL DESIGN GROUP 456,380 456,380
    INTL LEASE FINANCE CORP 958,697 958,697
    JETBLUE AIRWAYS CORP 2,238,348 2,238,348
    JOHNSON + JOHNSON 2,514,643 2,514,643
    JPMORGAN CHASE + CO 22,584,046 22,584,046
    KAZMUNAYGAS NATIONAL CO 1,489,116 1,489,116
    KIMBERLY CLARK CORP 118,640 118,640
    KINDER MORGAN ENER PART 841,127 841,127
    KINDER MORGAN INC 813,273 813,273
    KINDER MORGAN INC/DELAWA 1,893,364 1,893,364
    KKR GRP FIN CO VI LLC 1,706,769 1,706,769
    KRAFT HEINZ FOODS CO 2,111,414 2,111,414
    KROGER CO 1,683,491 1,683,491
    L3HARRIS TECH INC 2,235,290 2,235,290
    LAMB WESTON HLD 151,550 151,550
    LAS VEGAS SANDS CORP 1,476,284 1,476,284
    LEHMAN BROS CAP TR VII 1 1
    LEHMAN BROTHERS HOLDINGS 44 44
    LENNAR CORP 791,537 791,537
    LIBERTY MUTUAL GROUP INC 244,501 244,501
    LINCOLN NATIONAL CORP 1,092,556 1,092,556
    LLOYDS BANKING GROUP PLC 6,484,791 6,484,791
    LOCKHEED MARTIN CORP 703,953 703,953
    LOWE S COS INC 1,949,666 1,949,666
    MACQUARIE GROUP LTD 1,743,533 1,743,533
    MANGROVE LUXCO III 2,076,377 2,076,377
    MARCOLIN SPA 289,547 289,547
    MARS INC 1,722,641 1,722,641
    MASTERCARD INC 2,013,485 2,013,485
    MAUSER PACKAGING SOLUT 1,022,200 1,022,200
    MCDONALD S CORP 6,723,695 6,723,695
    MDC HOLDINGS INC 50,601 50,601
    MEDTRONIC INC 254,559 254,559
    MEG ENERGY CORP 41,934 41,934
    MERCK + CO INC 700,343 700,343
    METLIFE CAPITAL TRUST IV 3,658,200 3,658,200
    METLIFE INC 122,978 122,978
    MILEAGE PLUS HLDINGS LLC 715,225 715,225
    MITSUBISHI UFJ FIN GRP 17,597,360 17,597,360
    MONDELEZ INTERNATIONAL 791,060 791,060
    MONDELEZ INTL HLDINGS NE 262,727 262,727
    MOODY S CORPORATION 715,566 715,566
    MORGAN STANLEY 9,028,623 9,028,623
    MPLX LP 3,185,203 3,185,203
    NATIONAL SECS CLEARING 654,336 654,336
    NATIONWIDE BLDG SOCIETY 1,047,329 1,047,329
    NATWEST GROUP PLC 1,952,628 1,952,628
    NAVIERA ARMAS SA 2,245,003 2,245,003
    NETFLIX INC 2,057,092 2,057,092
    NEW YORK LIFE GLOBAL FDG 305,592 305,592
    NEWELL BRANDS INC 285,310 285,310
    NIKE INC 1,868,591 1,868,591
    NISSAN MOTOR CO 2,639,872 2,639,872
    NORTHROP GRUMMAN CORP 2,302,438 2,302,438
    NUVEEN LLC 1,885,887 1,885,887
    NVIDIA CORP 3,602,684 3,602,684
    NXP BV/NXP FDG/NXP USA 998,908 998,908
    NXP BV/NXP FUNDING LLC 679,257 679,257
    OCCIDENTAL PETROLEUM COR 8,039,403 8,039,403
    OFFICE CHERIFIEN DES PHO 3,271,082 3,271,082
    ORACLE CORP 2,840,857 2,840,857
    ORBIA ADVANCE CORP SAB 1,315,294 1,315,294
    OTIS WORLDWIDE CORP 193,237 193,237
    PACIFIC GAS + ELECTRIC 21,285,887 21,285,887
    PARK AEROSPACE HOLDINGS 440,191 440,191
    PARSLEY ENERGY LLC/FINAN 30,188 30,188
    PATRONS LEGACY 2003 III 1,386,861 1,386,861
    PAYPAL HOLDINGS INC 1,427,204 1,427,204
    PEACHTREE FUNDING TRUST 657,346 657,346
    PENSKE TRUCK LEASING/PTL 1,328,024 1,328,024
    PEPSICO INC 1,401,809 1,401,809
    PERTAMINA PERSERO PT 982,816 982,816
    PETROBRAS GLOBAL FINANCE 7,943,838 7,943,838
    PETROLEOS DEL PERU SA 2,201,658 2,201,658
    PETROLEOS MEXICANOS 4,298,848 4,298,848
    PFD ADELPHIA 3,375 3,375
    PFIZER INC 1,535,702 1,535,702
    PHILLIPS 66 871,523 871,523
    PHILLIPS 66 PARTNERS LP 509,652 509,652
    PIONEER NATURAL RESOURCE 913,363 913,363
    PNC FINANCIAL SERVICES 2,440,087 2,440,087
    PRINCIPAL LFE GLB FND II 138,395 138,395
    PROCTER + GAMBLE CO/THE 302,546 302,546
    PROSUS NV 4,518,309 4,518,309
    PRUDENTIAL FINANCIAL INC 1,410,401 1,410,401
    PUBLIC SERVICE ENTERPRIS 3,312,710 3,312,710
    QATAR ENERGY 1,994,079 1,994,079
    RANGE RESOURCES CORP 1,495,974 1,495,974
    RAYTHEON TECH CORP 12,064,383 12,064,383
    ROYAL BANK OF CANADA 1,094,321 1,094,321
    SABINE PASS LIQUEFACTION 271,931 271,931
    SALESFORCE.COM INC 2,110,836 2,110,836
    SANDS CHINA LTD 2,553,807 2,553,807
    SANTANDER UK GROUP HLDGS 880,374 880,374
    SCHLUMBERGER HLDGS CORP 1,325,333 1,325,333
    SHELL INTERNATIONAL FIN 3,702,639 3,702,639
    SHERWOOD FINANCING PLC 1,443,035 1,443,035
    SIMON PROPERTY GROUP LP 709,410 709,410
    SMBC AVIATION CAPITAL FI 1,448,218 1,448,218
    SOFIMA HOLDING S.P.A 1,222,561 1,222,561
    SOUTHERN CAL EDISON 10,645,704 10,645,704
    SOUTHERN CO 7,906,600 7,906,600
    SOUTHERN COPPER CORP 642,600 642,600
    SOUTHERN NATURAL GAS 473,324 473,324
    SOUTHWEST AIRLINES CO 3,922,271 3,922,271
    SOUTHWESTERN ENERGY CO 253,639 253,639
    SPIRIT LOYALTY KY LTD/IP 535,557 535,557
    SPRINT CAPITAL CORP 630,000 630,000
    SSM HEALTH CARE 1,555,701 1,555,701
    STANDARD CHARTERED PLC 485,419 485,419
    STATE STREET CORP 325,058 325,058
    STONEGATE PUB FIN 3,920,496 3,920,496
    SUMITOMO MITSUI TR BK LT 6,928,782 6,928,782
    SUMMER BC HOLDCO B SARL 591,264 591,264
    SUZANO AUSTRIA GMBH 3,288,779 3,288,779
    SWEDBANK AB 523,081 523,081
    T MOBILE USA INC 11,531,411 11,531,411
    TARGA RESOURCES PARTNERS 747,156 747,156
    TARGET CORP 402,075 402,075
    TEACHERS INSUR + ANNUITY 56,824 56,824
    TECK RESOURCES LIMITED 25,641 25,641
    TELE COLUMBUS AG 1,708,216 1,708,216
    TELEFONICA EMISIONES SAU 917,094 917,094
    TENCENT HOLDINGS LTD 3,043,823 3,043,823
    TENNESSEE GAS PIPELINE 274,518 274,518
    TEVA PHARMACEUTICALS NE 4,741,716 4,741,716
    TEXAS INSTRUMENTS INC 569,372 569,372
    TIME WARNER CABLE LLC 1,007,014 1,007,014
    TOLL BROS FINANCE CORP 268,450 268,450
    TORONTO DOMINION BANK 1,196,917 1,196,917
    TOYOTA MOTOR CORP 1,045,751 1,045,751
    TOYOTA MOTOR CREDIT CORP 806,049 806,049
    TRANSCANADA PIPELINES 4,443,846 4,443,846
    TRANSCONT GAS PIPE LINE 2,222,545 2,222,545
    TRANSURBAN FINANCE CO 677,479 677,479
    TRAVELEX FINANCING PLC 3,554 3,554
    TRAVELEX ISSUERC LTD 1,990,342 1,990,342
    TRIVIUM PACKAGING FIN 1,221,768 1,221,768
    TRUIST BANK 796,297 796,297
    TVL FINANCE PLC 3,035,746 3,035,746
    UBS AG LONDON 742,322 742,322
    UBS GROUP AG 14,910,630 14,910,630
    UNICREDIT SPA 2,583,741 2,583,741
    UNION PACIFIC CORP 1,241,337 1,241,337
    UNITED AIR 2014 1 A PTT 1,395,505 1,395,505
    UNITED AIR 2015 1 AA PTT 507,904 507,904
    UNITED AIR 2016 1 AA PTT 645,486 645,486
    UNITED AIR 2016 2 AA PTT 3,116,035 3,116,035
    UNITED AIR 2018 1 AA PTT 760,470 760,470
    UNITED AIR 2019 1 AA PTT 3,541,955 3,541,955
    UNITED AIRLINES 2012 1 A 824,867 824,867
    UNITED AIRLINES INC 856,971 856,971
    UNITED RENTALS NORTH AM 717,364 717,364
    UNITEDHEALTH GROUP INC 3,180,649 3,180,649
    US BANCORP 5,884,104 5,884,104
    VALE OVERSEAS LIMITED 1,013,844 1,013,844
    VERIZON COMMUNICATIONS 14,882,237 14,882,237
    VISA INC 2,771,523 2,771,523
    VOC ESCROW LTD 2,128,500 2,128,500
    WALMART INC 270,233 270,233
    WALT DISNEY COMPANY/THE 1,009,309 1,009,309
    WELLS FARGO + COMPANY 21,787,359 21,787,359
    WEPA HYGIENEPRODUKTE GMB 547,050 547,050
    WESTERN MIDSTREAM OPERAT 5,213,756 5,213,756
    WILLIAMS COMPANIES INC 339,848 339,848
    WILLIAMS COS INC 938,096 938,096
    WILLIS KNIGHTON MED CTR 309,091 309,091
    WYNN MACAU LTD 181,690 181,690

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Name of Stock End of Year Book Value End of Year Fair Market Value
    3I GROUP PLC 9,735,822 9,735,822
    ABB LTD REG 6,668,556 6,668,556
    ABERDEEN ASIA PACIFIC INCOME F 323,676 323,676
    ABERDEEN EMERGING MARKETS EQUI 21,970,832 21,970,832
    ABERDEEN JAPAN EQUITY FUND INC 932,259 932,259
    ABERDEEN JAPAN INVESTMENT TRUS 484,940 484,940
    ABERDEEN NEW DAWN INVESTMENT T 17,271,604 17,271,604
    ABERDEEN NEW INDIA INVESTMENT 11,368,348 11,368,348
    ABERDEEN STANDARD ASIA FOCUS P 33,065,227 33,065,227
    ABERDEEN TOTAL DYNAMIC DIVIDEN 3,259,659 3,259,659
    ABERFORTH SMALLER COMPANIES TR 3,192,057 3,192,057
    ABRDN ASIA PAC INCOME FD VCC 2,802,123 2,802,123
    ABRDN ASIAN INCOME FUND LTD 12,306,933 12,306,933
    ABRDN CHINA INVESTMENT CO 24,713,310 24,713,310
    ABRDN LATIN AMERICAN INCOME FU 1,191,569 1,191,569
    ACERINOX SA 2,605,160 2,605,160
    ADECCO GROUP AG REG 5,383,281 5,383,281
    ADEKA CORP 23,406,278 23,406,278
    ADIDAS AG 6,292,906 6,292,906
    ADMIRAL GROUP PLC 4,869,893 4,869,893
    AEON DELIGHT CO LTD 12,147,862 12,147,862
    AEON MALL CO LTD 12,885,174 12,885,174
    AGORA INC ADR 7,423,532 7,423,532
    AIA GROUP LTD 5,565,101 5,565,101
    AIR WATER INC 36,061,336 36,061,336
    AIRBUS SE 3,929,744 3,929,744
    AIRPORTS CORP OF VIETNAM JSC 5,195,332 5,195,332
    AKESO INC 42,075,343 42,075,343
    ALFA S.A.B. A 26,853,283 26,853,283
    ALFRESA HOLDINGS CORP 2,631,880 2,631,880
    ALIBABA GROUP HOLDING LTD 80,282,046 80,282,046
    ALIBABA GROUP HOLDING SP ADR 928,819 928,819
    ALLIANCE TRUST PLC 3,323,755 3,323,755
    ALLIANCEBERNSTEIN NATIONAL MUN 291,209 291,209
    ALPHABET INC CL A 70,119,956 70,119,956
    ALPHABET INC CL C 64,211,656 64,211,656
    ALTEN SA 4,362,498 4,362,498
    AMADA CO LTD 18,545,656 18,545,656
    AMAZON.COM INC 7,335,548 7,335,548
    AMBEV SA ADR 52,947,636 52,947,636
    AMEDEO AIR FOUR PLUS LTD 144,203 144,203
    AMERICA MOVIL SPN ADR CL L 65,637,154 65,637,154
    AMERICAN TOWER CORP 3,217,500 3,217,500
    AMERIPRISE FINANCIAL INC 4,223,240 4,223,240
    AMGEN INC 1,754,766 1,754,766
    AMOREPACIFIC CORP 34,692,731 34,692,731
    AMPLIFON SPA 2,228,769 2,228,769
    ANDRITZ AG 1,245,049 1,245,049
    ANEST IWATA CORP 3,010,040 3,010,040
    ANGEL OAK FINANCIAL INSTITUTIO 1,960,603 1,960,603
    ANHEUSER BUSCH INBEV SA/NV 5,372,549 5,372,549
    ANTHEM INC 3,940,090 3,940,090
    APAX GLOBAL ALPHA LTD 11,526,341 11,526,341
    APPLE INC 9,378,360 9,378,360
    APPLIED MATERIALS INC 3,587,808 3,587,808
    ARCELORMITTAL 7,970,031 7,970,031
    ARCS CO LTD 12,551,090 12,551,090
    ARIAKE JAPAN CO LTD 19,702,696 19,702,696
    ASA GOLD AND PRECIOUS METALS L 1,147,233 1,147,233
    ASIA DRAGON TRUST PLC 50,011,865 50,011,865
    ASICS CORP 25,168,946 25,168,946
    ASML HOLDING NV 5,654,545 5,654,545
    ASPEN PHARMACARE HOLDINGS LT 11,406,193 11,406,193
    ASSA ABLOY AB B 10,398,947 10,398,947
    ASTRA INTERNATIONAL TBK PT 47,400,164 47,400,164
    ATLANTIS JAPAN GROWTH FUND LTD 1,398,458 1,398,458
    AUTO TRADER GROUP PLC 3,993,166 3,993,166
    AVI GLOBAL TRUST PLC 3,176,987 3,176,987
    AVI JAPAN OPPORTUNITY TRUST PL 913,093 913,093
    AXA SA 8,256,369 8,256,369
    BAE SYSTEMS PLC 3,919,762 3,919,762
    BAIDU INC CLASS A 9,837,318 9,837,318
    BAILLIE GIFFORD EUROPEAN GROWT 1,391,928 1,391,928
    BAIRONG INC 7,432,859 7,432,859
    BANDAI NAMCO HOLDINGS INC 21,044,968 21,044,968
    BANGLADESH FUND 1,326,213 1,326,213
    BANK OF IRELAND GROUP PLC 5,783,292 5,783,292
    BANKERS INVESTMENT TRUST PLC/T 235,235 235,235
    BARCLAYS PLC 13,787,792 13,787,792
    BARRATT DEVELOPMENTS PLC 1,421,399 1,421,399
    BASF SE 6,563,194 6,563,194
    BAYERISCHE MOTOREN WERKE AG 4,687,383 4,687,383
    BEFESA SA 210,780 210,780
    BEIJING NEW BUILDING MATER A 45,794,797 45,794,797
    BERKSHIRE HATHAWAY INC CL B 10,072,317,021 10,072,317,021
    BID CORP LTD 30,824,319 30,824,319
    BIDVEST GROUP LTD 53,143,455 53,143,455
    BILIBILI INC CLASS Z 1,149,904 1,149,904
    BILIBILI INC SPONSORED ADR 6,612,000 6,612,000
    BLACKROCK CALIFORNIA MUNICIPAL 28,387 28,387
    BLACKROCK CREDIT ALLOCATION IN 251,124 251,124
    BLACKROCK ENHANCED INTERNATION 2,054,452 2,054,452
    BLACKROCK FRONTIERS INVESTMENT 8,233,199 8,233,199
    BLACKROCK INNOVATION + GROWTH 7,543,541 7,543,541
    BLACKROCK LATIN AMERICAN INVES 9,323,851 9,323,851
    BLACKROCK MUNICIPAL 2030 TARGE 639,123 639,123
    BLACKROCK MUNICIPAL INCOME FUN 425,503 425,503
    BLACKROCK MUNIYIELD MICHIGAN Q 31,953 31,953
    BLACKSTONE STRATEGIC CREDIT FU 70,917 70,917
    BMO COMMERCIAL PROPERTY TRUS 652,214 652,214
    BMO REAL ESTATE INVESTMENTS 1,047,744 1,047,744
    BNP PARIBAS 12,707,511 12,707,511
    BOOKING HOLDINGS INC 3,442,895 3,442,895
    BOSKALIS WESTMINSTER 2,265,163 2,265,163
    BP PLC 19,154,409 19,154,409
    BRANDYWINEGLOBAL GLOBAL INCOME 1,242,314 1,242,314
    BRENNTAG SE 7,275,615 7,275,615
    BRIDGESTONE CORP 7,263,089 7,263,089
    BROADCOM INC 4,325,165 4,325,165
    BRUNNER INVESTMENT TRUST PLC/T 1,382,774 1,382,774
    BUCHER INDUSTRIES AG REG 55,854,901 55,854,901
    BUNZL PLC 7,197,817 7,197,817
    C+D INTERNATIONAL INVESTMENT 27,683,247 27,683,247
    C+D PROPERTY MANAGEMENT GROU 8,109,693 8,109,693
    CAIXABANK SA 4,028,334 4,028,334
    CALEDONIA INVESTMENTS PLC 4,223,929 4,223,929
    CANADIAN NATL RAILWAY CO 1,299,353,600 1,299,353,600
    CANADIAN NATL RAILWAY CO 306,329,305 306,329,305
    CANADIAN PACIFIC RAILWAY LTD 178,306,527 178,306,527
    CANON MARKETING JAPAN INC 25,366,028 25,366,028
    CAPITA PLC 1,785,724 1,785,724
    CARLSBERG AS B 4,530,607 4,530,607
    CARLSON TRAVEL INC 1 1
    CARLSON TRAVEL, INC 1,779,340 1,779,340
    CARNIVAL PLC 1,275,194 1,275,194
    CASIO COMPUTER CO LTD 3,469,045 3,469,045
    CATERPILLAR INC 2,002,304,190 2,002,304,190
    CAZOO GROUP LTD 270,874 270,874
    CBRE GLOBAL REAL ESTATE INCOME 1,336,785 1,336,785
    CHEVRON CORP 2,288,325 2,288,325
    CHINA CONCH VENTURE HOLDINGS 73,062,100 73,062,100
    CHINA FORESTRY HOLDINGS CO 619 619
    CHINA FUND INC/THE 9,786,015 9,786,015
    CHINA LESSO GROUP HOLDINGS L 4,956,197 4,956,197
    CHINA MEIDONG AUTO HOLDINGS 62,837,313 62,837,313
    CHINA MENGNIU DAIRY CO 2,097,083 2,097,083
    CHINA MERCHANTS BANK A 19,148,177 19,148,177
    CHINA MERCHANTS BANK A 33,060,305 33,060,305
    CHINA NATIONAL BUILDING MA H 32,146,654 32,146,654
    CHINA OILFIELD SERVICES H 2,205,911 2,205,911
    CHINA PACIFIC INSURANCE GR A 49,535,430 49,535,430
    CHINA PACIFIC INSURANCE GR A 20,421,413 20,421,413
    CHINA RESOURCES LAND LTD 14,733,348 14,733,348
    CHINA TOURISM GROUP DUTY F A 6,416,314 6,416,314
    CHINA YONGDA AUTOMOBILES SER 14,938,963 14,938,963
    CHINA YOUZAN LTD 6,955,522 6,955,522
    CHUBB LTD 1,981,428 1,981,428
    CHUGOKU MARINE PAINTS LTD 13,930,528 13,930,528
    CIA DE MINAS BUENAVENTUR ADR 15,186,087 15,186,087
    CIE FINANCIERE RICHEMO A REG 10,004,272 10,004,272
    CIFI EVER SUNSHINE SERVICES 23,466,465 23,466,465
    CINEWORLD GROUP PLC 83,268 83,268
    CISCO SYSTEMS INC 4,277,475 4,277,475
    CITIZEN WATCH CO LTD 13,838,739 13,838,739
    CK ASSET HOLDINGS LTD 8,485,551 8,485,551
    CK HUTCHISON HOLDIN UNSP ADR 1,832,448 1,832,448
    CK HUTCHISON HOLDINGS LTD 5,429,172 5,429,172
    CLOSE BROTHERS GROUP PLC 1,143,537 1,143,537
    CNH INDUSTRIAL NV 10,938,526 10,938,526
    COCA COLA EUROPACIFIC PARTNE 2,734,865 2,734,865
    COCA COLA FEMSA SAB DE CV 768,773 768,773
    COCA COLA FEMSA SAB SP ADR 340,504,454 340,504,454
    COLOPLAST B 12,131,851 12,131,851
    COMCAST CORP CLASS A 2,591,995 2,591,995
    COMMERCIAL INTERNATIONAL BAN 39,276,674 39,276,674
    COMPASS GROUP PLC 10,074,761 10,074,761
    CONCORDIA FINANCIAL GROUP LT 21,234,857 21,234,857
    CONSUMER STAPLES SELECT SECTOR 1,966,305 1,966,305
    CONVATEC GROUP PLC 4,673,163 4,673,163
    COUPANG INC 167,885,693 167,885,693
    CP ALL PCL FOREIGN 22,566,595 22,566,595
    CREDICORP LTD 35,818,634 35,818,634
    CRH PLC 1,360,154 1,360,154
    CROWN CASTLE INTL CORP 952,698,962 952,698,962
    CSPC PHARMACEUTICAL GROUP LT 73,800,021 73,800,021
    CTS EVENTIM AG + CO KGAA 3,001,456 3,001,456
    CVS HEALTH CORP 3,971,660 3,971,660
    DAI ICHI LIFE HOLDINGS INC 160,041,574 160,041,574
    DAIFUKU CO LTD 8,326,169 8,326,169
    DAIHEN CORP 16,379,882 16,379,882
    DAIRY FARM INTL HLDGS LTD 5,223,790 5,223,790
    DAIWA HOUSE INDUSTRY CO LTD 11,048,212 11,048,212
    DAIWA SECURITIES GROUP INC 4,405,786 4,405,786
    DAIWABO HOLDINGS CO LTD 19,353,115 19,353,115
    DANSKE BANK A/S 603,361 603,361
    DAVIDE CAMPARI MILANO NV 3,020,195 3,020,195
    DCC PLC 4,237,910 4,237,910
    DEERE + CO 354,410,418 354,410,418
    DELAWARE INVTS MINN MUN 383,736 383,736
    DEMANT A/S 6,823,021 6,823,021
    DENKA CO LTD 15,767,479 15,767,479
    DEUTSCHE TELEKOM AG REG 2,473,195 2,473,195
    DEVRO PLC 927,240 927,240
    DIAGEO PLC 28,518,938 28,518,938
    DISCO CORP 41,207,503 41,207,503
    DNB BANK ASA 3,325,808 3,325,808
    DON JERSEY TOPCO LIMITED 1,171,028 1,171,028
    DONGFENG MOTOR GRP CO LTD H 33,720,303 33,720,303
    DOUBLELINE INCOME SOLUTIONS FU 410,302 410,302
    DOUBLELINE YIELD OPPORTUNITIES 160,614 160,614
    DOWA HOLDINGS CO LTD 10,887,200 10,887,200
    DS SMITH PLC 4,493,256 4,493,256
    EAST JAPAN RAILWAY CO 9,747,602 9,747,602
    EAST MONEY INFORMATION CO A 2,919,400 2,919,400
    EASTMAN CHEMICAL CO 3,022,750 3,022,750
    EASYJET PLC 2,750,943 2,750,943
    EATON CORP PLC 4,510,602 4,510,602
    EATON VANCE LTD DURATION INCOM 100,307 100,307
    EATON VANCE MUNICIPAL BOND FUN 62,970 62,970
    ECOLAB INC 1,024,320,110 1,024,320,110
    EDENRED 5,108,568 5,108,568
    EDINBURGH INVESTMENT TRUST PLC 991,674 991,674
    ELIS SA 698,039 698,039
    ELLERSTON ASIAN INVESTMENTS LT 4,565,263 4,565,263
    EMAAR PROPERTIES PJSC 45,581,923 45,581,923
    ENN ENERGY HOLDINGS LTD 7,174,018 7,174,018
    ENTAIN PLC 9,282,900 9,282,900
    EQUINOR ASA 10,568,351 10,568,351
    ESSILORLUXOTTICA 10,567,893 10,567,893
    EUROFINS SCIENTIFIC 8,026,934 8,026,934
    EUROMONEY INSTL INVESTOR PLC 844,181 844,181
    EUROPEAN ASSETS TRUST PLC/FUND 889,455 889,455
    EUROPEAN OPPORTUNITIES TRUST P 4,651,103 4,651,103
    EVE ENERGY CO LTD A 60,877,437 60,877,437
    EXEO GROUP INC 20,092,119 20,092,119
    EXPERIAN PLC 5,656,726 5,656,726
    EXXON MOBIL CORP 1,040,230 1,040,230
    F+C INVESTMENT TRUST PLC 1,379,919 1,379,919
    FEDEX CORP 386,333,672 386,333,672
    FERROVIAL SA 1,057,390 1,057,390
    FIDELITY CHINA SPECIAL SITUATI 45,352,692 45,352,692
    FIDELITY EMERGING MARKETS LTD 32,056,816 32,056,816
    FIDELITY EUROPEAN TRUST PLC 8,558,492 8,558,492
    FIDELITY JAPAN TRUST PLC 1,881,712 1,881,712
    FINSBURY GROWTH + INCOME TRUST 2,181,143 2,181,143
    FIRST TRUST DYNAMIC EUROPE EQU 2,231,106 2,231,106
    FLAT GLASS GROUP CO LTD H 1,917,098 1,917,098
    FLUIDRA SA 5,775,927 5,775,927
    FLUTTER ENTERTAINMENT PLC DI 10,432,103 10,432,103
    FLUTTER ENTERTAINMENT PLC DI 399,603 399,603
    FOMENTO DE CONSTRUC Y CONTRA 94,041,379 94,041,379
    FRESENIUS MEDICAL CARE AG + 6,636,561 6,636,561
    FRONTIER EMERGING MARKETS FUND 3,652,196 3,652,196
    FUJI CORP/AICHI 4,484,391 4,484,391
    FUJI MEDIA HOLDINGS INC 52,521,634 52,521,634
    FUJI OIL HOLDINGS INC 9,398,463 9,398,463
    FUJI SEAL INTERNATIONAL INC 26,123,012 26,123,012
    FUKUDA DENSHI CO LTD 11,189,267 11,189,267
    FUKUOKA FINANCIAL GROUP INC 5,668,839 5,668,839
    FUNDSMITH EMERGING EQUITIES TR 9,342,498 9,342,498
    FUTURE PLC 1,211,240 1,211,240
    GDS HOLDINGS LTD ADR 20,230,744 20,230,744
    GEA GROUP AG 1,281,666 1,281,666
    GEBERIT AG REG 10,674,807 10,674,807
    GERRESHEIMER AG 1,127,146 1,127,146
    GESTAMP AUTOMOCION SA 2,037,672 2,037,672
    GETINGE AB B SHS 3,471,256 3,471,256
    GETLINK SE 2,565,952 2,565,952
    GIVAUDAN REG 890,144,964 890,144,964
    GLENCORE PLC 9,980,594 9,980,594
    GN STORE NORD A/S 6,083,171 6,083,171
    GOLDMAN SACHS GROUP INC 2,700,803 2,700,803
    GREE ELECTRIC APPLIANCES I A 8,345,568 8,345,568
    GREENCOAT UK WIND PLC/FUNDS 1,329,620 1,329,620
    GRUPO TELEVISA SA SPON ADR 65,951,017 65,951,017
    GRUPO TELEVISA SAB SER CPO 9,041,779 9,041,779
    GUANGDONG GREAT RIVER SMAR A 13,787,802 13,787,802
    GULF INVESTMENT FUND PLC 5,487,585 5,487,585
    HAIER SMART HOME CO LTD A 47,966,351 47,966,351
    HAIER SMART HOME CO LTD H 84,460,499 84,460,499
    HAKUHODO DY HOLDINGS INC 23,332,090 23,332,090
    HANNOVER RUECK SE 1,725,383 1,725,383
    HANSA INVESTMENT CO LTD 10,291,746 10,291,746
    HARBORVIEW NIM CI 4 CORP 126 126
    HARBOURVEST GLOBAL PRIVATE EQU 17,948,039 17,948,039
    HASEKO CORP 15,772,621 15,772,621
    HAYS PLC 5,706,857 5,706,857
    HAZAMA ANDO CORP 7,301,410 7,301,410
    HEALTH AND HAPPINESS H+H INT 2,403,202 2,403,202
    HEINEKEN HOLDING NV 16,684,904 16,684,904
    HEINEKEN NV 7,658,855 7,658,855
    HELLOFRESH SE 10,987,703 10,987,703
    HELVETIA HOLDING AG REG 948,406 948,406
    HENDERSON ALTERNATIVE STRATEGI 623,791 623,791
    HENDERSON EUROTRUST PLC 719,213 719,213
    HENDERSON SMALLER COMPANIES IN 1,374,586 1,374,586
    HERALD INVESTMENT TRUST PLC 6,292,536 6,292,536
    HERO MOTOCORP LTD 49,583,117 49,583,117
    HI LEX CORP 4,949,850 4,949,850
    HIROSE ELECTRIC CO LTD 67,161,385 67,161,385
    HISCOX LTD 1,382,420 1,382,420
    HITACHI LTD 198,296,374 198,296,374
    HOGY MEDICAL CO LTD 13,452,755 13,452,755
    HOLCIM LTD 5,161,199 5,161,199
    HOME DEPOT INC 3,473,634 3,473,634
    HOMESERVE PLC 6,218,995 6,218,995
    HON HAI PRECISION INDUSTRY 56,712,639 56,712,639
    HONDA MOTOR CO LTD 39,970,040 39,970,040
    HOUSING DEVELOPMENT FINANCE 58,116,312 58,116,312
    HUALAN BIOLOGICAL ENGINEER A 2,303,456 2,303,456
    HUAZHU GROUP LTD ADR 2,515,185 2,515,185
    HYUNDAI MOBIS CO LTD 27,667,977 27,667,977
    HYUNDAI MOTOR CO 99,514,768 99,514,768
    I MAB SPONSORED ADR 16,586,500 16,586,500
    ICAPITAL.BIZ BHD 1,351,053 1,351,053
    IG GROUP HOLDINGS PLC 2,579,398 2,579,398
    IMERYS SA 379,672 379,672
    INABA DENKI SANGYO CO LTD 1,173,201 1,173,201
    INABATA + CO LTD 16,681,894 16,681,894
    INCHCAPE PLC 4,982,998 4,982,998
    INDIA CAPITAL GROWTH FUND LTD 16,762,820 16,762,820
    INDIA FUND INC/THE 3,553,704 3,553,704
    INFORMA PLC 1,312,962 1,312,962
    INFRONEER HOLDINGS INC 37,267,683 37,267,683
    INNER MONGOLIA YILI INDUS A 3,948,339 3,948,339
    INPEX CORP 34,805,262 34,805,262
    INTERCONTINENTAL HOTELS GROU 1,262,100 1,262,100
    INTERNATIONAL PERSONAL FINAN 931,199 931,199
    INTERTEK GROUP PLC 11,652,457 11,652,457
    INTESA SANPAOLO 1,094,237 1,094,237
    INVESCO ASIA TRUST PLC 11,864,006 11,864,006
    IRISH CONTINENTAL GROUP PLC 1,666,363 1,666,363
    ISHARES 1 3 YEAR TREASURY BOND 1,801,729 1,801,729
    ISHARES 10 YEAR INVESTMENT GR 278,200 278,200
    ISHARES 20 YEAR TREASURY BOND 3,854,718 3,854,718
    ISHARES 7 10 YEAR TREASURY BON 3,069,465 3,069,465
    ISHARES CORE MSCI EAFE ETF 1,169,609 1,169,609
    ISHARES CORE MSCI EMERGING MAR 1,224,975 1,224,975
    ISHARES IBOXX INVESTMENT GRA 265,040 265,040
    ISHARES MSCI AUSTRALIA ETF 4,460,561 4,460,561
    ISHARES MSCI CHINA ETF 35,202,169 35,202,169
    ISHARES MSCI EUROZONE ETF 4,468,585 4,468,585
    ISHARES MSCI FRANCE ETF 2,597,262 2,597,262
    ISHARES MSCI GERMANY ETF 2,190,196 2,190,196
    ISHARES MSCI JAPAN ETF 2,882,025 2,882,025
    ISHARES MSCI MALAYSIA ETF 5,296,273 5,296,273
    ISHARES MSCI SOUTH KOREA ETF 5,241,430 5,241,430
    ISHARES MSCI SWITZERLAND ETF 3,229,976 3,229,976
    ISHARES S+P/TSX 60 INDEX ETF 4,501,928 4,501,928
    ISHARES US TECHNOLOGY ETF 7,991,472 7,991,472
    ITAU UNIBANCO H SPON PRF ADR 37,962,011 37,962,011
    ITOCHU CORP 12,287,262 12,287,262
    ITV PLC 5,397,685 5,397,685
    JAFCO GROUP CO LTD 39,269,871 39,269,871
    JAPAN EXCHANGE GROUP INC 35,982,986 35,982,986
    JAPAN POST HOLDINGS CO LTD 47,738,995 47,738,995
    JAPAN PURE CHEMICAL CO LTD 3,532,380 3,532,380
    JAPAN SMALLER CAPITALIZATION F 2,710,601 2,710,601
    JCDECAUX SA 3,410,608 3,410,608
    JD.COM INC CL A 64,285,251 64,285,251
    JIANGSU EASTERN SHENGHONG A 27,413,702 27,413,702
    JIANGSU HENGLI HYDRAULIC C A 3,908,164 3,908,164
    JIANGSU HENGRUI MEDICINE C A 36,709,573 36,709,573
    JL MAG RARE EARTH CO LTD A 48,030,416 48,030,416
    JOHN HANCOCK INCOME SECURITIES 33,424 33,424
    JOHN WOOD GROUP PLC 1,182,244 1,182,244
    JOHNSON + JOHNSON 2,556,641 2,556,641
    JOLLIBEE FOODS CORP 12,222,245 12,222,245
    JOYY INC ADR 5,238,624 5,238,624
    JPMORGAN ASIA GROWTH + INCOME 1,141,036 1,141,036
    JPMORGAN CHASE + CO 4,687,160 4,687,160
    JPMORGAN CHINA GROWTH + INCOME 3,990,435 3,990,435
    JPMORGAN EMERGING MARKETS INVE 32,359,688 32,359,688
    JPMORGAN EUROPEAN DISCOVERY TR 11,764,078 11,764,078
    JPMORGAN EUROPEAN INVESTMENT T 338,248 338,248
    JPMORGAN EUROPEAN INVESTMENT T 3,232,546 3,232,546
    JPMORGAN GLOBAL EMERGING MARKE 9,727,522 9,727,522
    JPMORGAN INDIAN INVESTMENT TRU 40,458,104 40,458,104
    JPMORGAN JAPAN SMALL CAP GROWT 2,239,069 2,239,069
    JPMORGAN JAPANESE INVESTMENT T 8,907,952 8,907,952
    JS GLOBAL LIFESTYLE CO LTD 8,976,520 8,976,520
    JUPITER FUND MANAGEMENT 2,514,446 2,514,446
    JUST EAT TAKEAWAY 2,158,337 2,158,337
    K S HOLDINGS CORP 10,796,994 10,796,994
    KAKAKU.COM INC 64,540,515 64,540,515
    KAMIGUMI CO LTD 21,750,684 21,750,684
    KANAMOTO CO LTD 9,907,464 9,907,464
    KANDENKO CO LTD 14,884,286 14,884,286
    KANEMATSU CORP 15,169,986 15,169,986
    KANZHUN LTD 1,073,258 1,073,258
    KAO CORP 44,752,445 44,752,445
    KATAKURA INDUSTRIES CO LTD 7,492,076 7,492,076
    KDDI CORP 6,545,616 6,545,616
    KEYENCE CORP 68,291,121 68,291,121
    KEYSTONE POSITIVE CHANGE INVES 110,974 110,974
    KINDEN CORP 33,012,896 33,012,896
    KINGDEE INTERNATIONAL SFTWR 3,244,616 3,244,616
    KIRIN HOLDINGS CO LTD 163,521,772 163,521,772
    KOKUYO CO LTD 17,563,458 17,563,458
    KOMATSU LTD 37,620,819 37,620,819
    KONINKLIJKE AHOLD DELHAIZE N 5,658,445 5,658,445
    KONINKLIJKE KPN NV 3,483,314 3,483,314
    KONINKLIJKE PHILIPS NV 4,718,800 4,718,800
    KONOIKE TRANSPORT CO LTD 11,833,748 11,833,748
    KOREA FUND INC/THE 8,448,742 8,448,742
    KUREHA CORP 13,919,500 13,919,500
    KWEICHOW MOUTAI CO LTD A 9,505,778 9,505,778
    KYOCERA CORP 25,588,728 25,588,728
    KYUDENKO CORP 12,432,938 12,432,938
    L OCCITANE INTERNATIONAL SA 11,120,583 11,120,583
    LAZARD WORLD TRUST FUND 1 1
    LEGRAND SA 10,552,319 10,552,319
    LG CORP 30,244,044 30,244,044
    LINKLOGIS INC CLASS B 8,239,806 8,239,806
    LIXIL CORP 61,169,580 61,169,580
    LLOYDS BANKING GROUP PLC 10,551,524 10,551,524
    LOCKHEED MARTIN CORP 2,096,919 2,096,919
    LOGITECH INTERNATIONAL REG 2,892,271 2,892,271
    LONGI GREEN ENERGY TECHNOL A 1,541,046 1,541,046
    LOWE S COS INC 4,394,160 4,394,160
    LUXSHARE PRECISION INDUSTR A 5,854,579 5,854,579
    MACROMILL INC 13,714,091 13,714,091
    MADISON SQUARE GARDEN SPORTS 48,322,478 48,322,478
    MANDOM CORP 19,077,973 19,077,973
    MARUI GROUP CO LTD 8,810,030 8,810,030
    MARUICHI STEEL TUBE LTD 13,573,826 13,573,826
    MASAN CONSUMER CORP 5,321,990 5,321,990
    MATSUKIYOCOCOKARA + CO 5,726,612 5,726,612
    MAXELL LTD 16,695,647 16,695,647
    MEDIASET ESPANA COMUNICACION 299,896 299,896
    MEDIATEK INC 7,484,006 7,484,006
    MEDIPAL HOLDINGS CORP 71,183,961 71,183,961
    MEGMILK SNOW BRAND CO LTD 20,704,433 20,704,433
    MEITUAN CLASS B 8,337,976 8,337,976
    MELCO INTERNATIONAL DEVELOP. 7,640,886 7,640,886
    MELCO RESORTS + ENTERT ADR 78,702 78,702
    MERCANTILE INVESTMENT TRUST PL 1,466,655 1,466,655
    MERCK + CO. INC. 2,375,840 2,375,840
    META PLATFORMS INC CLASS A 5,558,184 5,558,184
    MEXICO FUND INC/THE 12,024,982 12,024,982
    MFS GOVERNMENT MARKETS INCOME 170,842 170,842
    MFS INTERMEDIATE INCOME TRUST 554,228 554,228
    MGM CHINA HOLDINGS LTD 4,981,962 4,981,962
    MICROSOFT CORP 656,161,329 656,161,329
    MIDDLEFIELD CANADIAN INCOME PC 1,284,090 1,284,090
    MIDEA GROUP CO LTD A 113,685,918 113,685,918
    MIDEA GROUP CO LTD A 7,444,290 7,444,290
    MILITARY COMMERCIAL JOINT 7,655,515 7,655,515
    MILLER/HOWARD HIGH DIVIDEND FU 1,229,329 1,229,329
    MING YUAN CLOUD GROUP HOLDIN 18,032,677 18,032,677
    MIRAIT HOLDINGS CORP 17,626,590 17,626,590
    MISUMI GROUP INC 66,564,891 66,564,891
    MITSUBISHI ELECTRIC CORP 28,387,270 28,387,270
    MITSUBISHI HC CAPITAL INC 24,443,949 24,443,949
    MITSUBISHI LOGISTICS CORP 43,367,070 43,367,070
    MITSUBISHI UFJ FINANCIAL GRO 46,126,091 46,126,091
    MODERN TIMES GROUP B SHS 922,750 922,750
    MORGAN STANLEY 2,736,701 2,736,701
    MORGAN STANLEY CHINA A SHARE F 25,578,139 25,578,139
    MORGAN STANLEY EMERGING MARKET 278,067 278,067
    MORGAN STANLEY INDIA INVESTMEN 14,312,829 14,312,829
    MORINAGA + CO LTD 15,013,226 15,013,226
    MS+AD INSURANCE GROUP HOLDIN 27,595,629 27,595,629
    MURRAY INCOME TRUST PLC 761,424 761,424
    MURRAY INTERNATIONAL TRUST PLC 403,993 403,993
    NAGAILEBEN CO LTD 11,367,677 11,367,677
    NAGASE + CO LTD 21,031,653 21,031,653
    NAKANISHI INC 27,384,744 27,384,744
    NASPERS LTD N SHS 10,567,800 10,567,800
    NATIONAL EXPRESS GROUP PLC 1,208,717 1,208,717
    NB GLOBAL MONTHLY INCOME FUND 1,552,914 1,552,914
    NEC CORP 76,513,247 76,513,247
    NEMAK SAB DE CV 4,403,337 4,403,337
    NET ONE SYSTEMS CO LTD 26,239,156 26,239,156
    NETEASE INC 1,080,801 1,080,801
    NETEASE INC ADR 21,515,376 21,515,376
    NEUBERGER BERMAN NEXT GENERATI 8,118,319 8,118,319
    NEW GERMANY FUND INC/THE 1,860,195 1,860,195
    NEW WORLD DEVELOPMENT 6,045,473 6,045,473
    NH FOODS LTD 48,890,504 48,890,504
    NHK SPRING CO LTD 19,745,995 19,745,995
    NIKON CORP 27,458,643 27,458,643
    NINTENDO CO LTD 6,196,387 6,196,387
    NIPPON DENSETSU KOGYO CO LTD 8,803,960 8,803,960
    NIPPON ELECTRIC GLASS CO LTD 18,566,497 18,566,497
    NIPPON SEIKI CO LTD 5,746,776 5,746,776
    NIPPON STEEL CORP 9,764,840 9,764,840
    NIPPON SUISAN KAISHA LTD 6,965,093 6,965,093
    NIPPON TELEGRAPH + TELEPHONE 131,416,178 131,416,178
    NIPPON TELEVISION HOLDINGS 53,638,946 53,638,946
    NISSAN CHEMICAL CORP 11,039,069 11,039,069
    NISSHINBO HOLDINGS INC 22,096,305 22,096,305
    NOMURA CO LTD 4,382,865 4,382,865
    NOMURA HOLDINGS INC 52,604,109 52,604,109
    NON STANDARD FINANCE PLC 18,756 18,756
    NORDIC ENTERTAINMENT GROUP B 3,432,617 3,432,617
    NORFOLK SOUTHERN CORP 3,483,207 3,483,207
    NOVO NORDISK A/S B 20,325,907 20,325,907
    NS SOLUTIONS CORP 22,309,596 22,309,596
    NSD CO LTD 21,240,302 21,240,302
    NSK LTD 4,587,386 4,587,386
    NTT DATA CORP 71,267,839 71,267,839
    NUVEEN AMT FREE QUALITY MUNICI 956,171 956,171
    NUVEEN CORE PLUS IMPACT FUND 1,648,281 1,648,281
    NUVEEN EMERGING MARKETS DEBT 2 15,549 15,549
    NUVEEN ENHANCED MUNICIPAL VALU 268,600 268,600
    NUVEEN GEORGIA QUALITY MUNICIP 22,696 22,696
    NUVEEN INTERMEDIATE DURATION M 525,826 525,826
    NUVEEN INTERMEDIATE DURATION Q 258,759 258,759
    NUVEEN MORTGAGE AND INCOME FUN 43,356 43,356
    NUVEEN MUNICIPAL VALUE FUND IN 551,085 551,085
    NUVEEN NEW JERSEY QUALITY MUNI 191,127 191,127
    NUVEEN NEW YORK AMT FREE QUALI 67,916 67,916
    NUVEEN PENNSYLVANIA QUALITY MU 95,628 95,628
    NUVEEN QUALITY MUNICIPAL INCOM 253,249 253,249
    OAKLEY CAPITAL INVESTMENTS LTD 5,995,932 5,995,932
    OBAYASHI CORP 78,815,874 78,815,874
    OBIC CO LTD 43,329,426 43,329,426
    OCEAN WILSONS HOLDINGS LTD 4,713,267 4,713,267
    OCI NV 13,791,167 13,791,167
    OCTOPUS RENEWABLES INFRASTRU 647,348 647,348
    OESTERREICHISCHE POST AG 1,709,344 1,709,344
    OJI HOLDINGS CORP 47,339,800 47,339,800
    OKUMURA CORP 10,782,207 10,782,207
    OMRON CORP 7,453,901 7,453,901
    ON HOLDING AG CLASS A 18,905,000 18,905,000
    ONWARD HOLDINGS CO LTD 3,183,309 3,183,309
    ORACLE CORP 3,470,958 3,470,958
    ORACLE CORP JAPAN 40,590,092 40,590,092
    ORASCOM CONSTRUCTION PLC 1,317,040 1,317,040
    ORGANO CORP 16,856,064 16,856,064
    ORION CORP/REPUBLIC OF KOREA 27,259,919 27,259,919
    ORIX CORP 28,586,681 28,586,681
    ORSTED A/S 5,256,579 5,256,579
    PACIFIC ASSETS TRUST PLC/FUND 4,140,897 4,140,897
    PACIFIC INDUSTRIAL CO LTD 16,203,165 16,203,165
    PAGEGROUP PLC 1,700,781 1,700,781
    PANTHEON INFRASTRUCTURE PLC 1,196,178 1,196,178
    PANTHEON INTERNATIONAL PLC/THE 2,042,649 2,042,649
    PARAMOUNT BED HOLDINGS CO LT 10,419,565 10,419,565
    PENTA OCEAN CONSTRUCTION CO 30,863,358 30,863,358
    PEPSICO INC 2,814,102 2,814,102
    PERNOD RICARD SA 1,508,768 1,508,768
    PERSHING SQUARE HOLDINGS LTD/F 5,977,835 5,977,835
    PERSOL HOLDINGS CO LTD 7,758,673 7,758,673
    PETROFAC LTD 278,312 278,312
    PETS AT HOME GROUP PLC 2,372,523 2,372,523
    PFIZER INC 2,421,050 2,421,050
    PGIM HIGH YIELD BOND FUND INC 117,261 117,261
    PIOLAX INC 5,343,233 5,343,233
    PIONEER MUNICIPAL HIGH INCOME 2,643,167 2,643,167
    PLATINUM ASIA INVESTMENTS LTD 90,064 90,064
    PLAYTECH PLC 785,731 785,731
    PNC FINANCIAL SERVICES GROUP 3,489,048 3,489,048
    POSCO 44,757,990 44,757,990
    PROCTER + GAMBLE CO/THE 3,758,251 3,758,251
    PROSUS NV 30,473,267 30,473,267
    PROVIDENT FINANCIAL PLC 1,913,467 1,913,467
    PRUDENTIAL PLC 1,307,632 1,307,632
    PULTEGROUP INC 3,058,060 3,058,060
    QUADIENT SA 694,053 694,053
    QUANG NGAI SUGAR JSC 926,799 926,799
    RANDSTAD NV 1,175,328 1,175,328
    RATHBONES GROUP PLC 858,731 858,731
    RAYTHEON TECHNOLOGIES CORP 1,738,412 1,738,412
    RECKITT BENCKISER GROUP PLC 7,951,004 7,951,004
    REDBUBBLE LTD 5,161,146 5,161,146
    RELX PLC 8,406,855 8,406,855
    REMGRO LTD 22,172,888 22,172,888
    RENESAS ELECTRONICS CORP 41,047,103 41,047,103
    REPLY SPA 2,007,587 2,007,587
    RESONA HOLDINGS INC 103,588,709 103,588,709
    RICOH LEASING CO LTD 10,391,212 10,391,212
    RIGHTMOVE PLC 12,759,107 12,759,107
    RIO TINTO PLC 7,578,056 7,578,056
    ROCHE HOLDING AG GENUSSCHEIN 22,122,731 22,122,731
    ROHM CO LTD 48,115,358 48,115,358
    ROLLS ROYCE HOLDINGS PLC 3,824,105 3,824,105
    ROTORK PLC 1,010,930 1,010,930
    RWS HOLDINGS PLC 1,051,972 1,051,972
    SABA CAPITAL INCOME + OPPORT 2,288,196 2,288,196
    SAIPEM SPA 3,475,850 3,475,850
    SAMPO OYJ A SHS 8,579,934 8,579,934
    SAMSUNG ELECTRONICS CO LTD 115,849,354 115,849,354
    SAN A CO LTD 36,578,403 36,578,403
    SANDERSON FARMS INC 100,171,015 100,171,015
    SANDVIK AB 6,530,379 6,530,379
    SANKI ENGINEERING CO LTD 8,747,341 8,747,341
    SANKYU INC 13,296,600 13,296,600
    SANY HEAVY EQUIPMENT INTL 24,352,218 24,352,218
    SANY HEAVY INDUSTRY CO LTD A 83,111,435 83,111,435
    SANY HEAVY INDUSTRY CO LTD A 3,880,044 3,880,044
    SATELLITE CHEMICAL CO LTD A 101,557,699 101,557,699
    SAWAI GROUP HOLDINGS CO LTD 16,144,197 16,144,197
    SCHIBSTED ASA B SHS 577,578 577,578
    SCHIBSTED ASA CL A 1,537,841 1,537,841
    SCHNEIDER ELECTRIC SE 8,491,079 8,491,079
    SCHRODER ASIAPACIFIC FUND PLC 25,473,574 25,473,574
    SCHRODER JAPAN GROWTH FUND PLC 2,584,572 2,584,572
    SCHRODER UK MID CAP FUND PLC 426,378 426,378
    SCHRODINGER INC 243,171,357 243,171,357
    SCHRODINGER TBD 319,188,842 319,188,842
    SCOTTISH INVESTMENT TRUST PLC 625,503 625,503
    SCOTTISH MORTGAGE INVESTMENT T 45,380 45,380
    SCOTTISH ORIENTAL SMALLER COMP 29,944,198 29,944,198
    SCSK CORP 12,190,905 12,190,905
    SECOM CO LTD 13,363,746 13,363,746
    SEGA SAMMY HOLDINGS INC 56,495,524 56,495,524
    SEINO HOLDINGS CO LTD 18,463,158 18,463,158
    SEKISUI CHEMICAL CO LTD 6,769,686 6,769,686
    SEKISUI HOUSE LTD 17,152,534 17,152,534
    SEKISUI JUSHI CORP 7,989,579 7,989,579
    SELECTED AMERICAN SHARES INC 97,439,351 97,439,351
    SENKO GROUP HOLDINGS CO LTD 4,049,160 4,049,160
    SERCO GROUP PLC 4,117,525 4,117,525
    SEVEN + I HOLDINGS CO LTD 40,296,963 40,296,963
    SHANDONG SINOCERA FUNCTION A 7,928,038 7,928,038
    SHANGHAI INTERNATIONAL AIR A 3,158,343 3,158,343
    SHENZHEN INOVANCE TECHNOLO A 1,459,540 1,459,540
    SHENZHEN MINDRAY BIO MEDIC A 5,012,924 5,012,924
    SHIMANO INC 68,053,458 68,053,458
    SHIMAO SERVICES HOLDINGS LTD 14,432,385 14,432,385
    SHIN ETSU CHEMICAL CO LTD 64,142,556 64,142,556
    SHOEI CO LTD 24,610,030 24,610,030
    SIKA AG REG 1,458,922,309 1,458,922,309
    SINOMA SCIENCE+TECHNOLOGY A 60,507,138 60,507,138
    SITC INTERNATIONAL HOLDINGS 78,176,391 78,176,391
    SKY PERFECT JSAT HOLDINGS 12,551,309 12,551,309
    SMITH + NEPHEW PLC 973,681 973,681
    SOMPO HOLDINGS INC 69,550,516 69,550,516
    SONOVA HOLDING AG REG 4,956,148 4,956,148
    SOUTHWEST AIRLINES CO 2,227,680 2,227,680
    SSP GROUP PLC 6,085,396 6,085,396
    ST JAMES S PLACE PLC 4,960,794 4,960,794
    STABILUS SA 3,418,749 3,418,749
    STANDARD BANK GROUP LTD 32,467,556 32,467,556
    STANDARD CHARTERED PLC 517,936 517,936
    STANLEY ELECTRIC CO LTD 18,485,803 18,485,803
    STARWOOD EUROPEAN REAL ESTATE 1,095,547 1,095,547
    SUMITOMO BAKELITE CO LTD 21,359,706 21,359,706
    SUMITOMO ELECTRIC INDUSTRIES 45,565,111 45,565,111
    SUMITOMO FORESTRY CO LTD 33,928,837 33,928,837
    SUMITOMO METAL MINING CO LTD 6,202,683 6,202,683
    SUMITOMO MITSUI FINANCIAL GR 71,864,603 71,864,603
    SUMITOMO MITSUI TRUST HOLDIN 103,958,398 103,958,398
    SUMITOMO WAREHOUSE CO LTD 14,756,198 14,756,198
    SUNNY OPTICAL TECH 7,142,142 7,142,142
    SUZANO SA 67,107,354 67,107,354
    SUZHOU MAXWELL TECHNOLOGIE A 51,281,105 51,281,105
    SUZUKI MOTOR CORP 20,272,901 20,272,901
    SVENSKA HANDELSBANKEN A SHS 5,146,112 5,146,112
    SWISS HELVETIA FUND INC/THE 559,413 559,413
    T HASEGAWA CO LTD 31,270,173 31,270,173
    T+D HOLDINGS INC 28,580,998 28,580,998
    TACHI S CO LTD 14,821,581 14,821,581
    TAIHEIYO CEMENT CORP 54,589,109 54,589,109
    TAIKISHA LTD 9,241,457 9,241,457
    TAISEI LAMICK CO LTD 2,998,604 2,998,604
    TAIWAN FUND INC/THE/MD 14,013,723 14,013,723
    TAKAMATSU CONSTRUCTION GROUP 5,819,461 5,819,461
    TAKASAGO THERMAL ENGINEERING 11,525,335 11,525,335
    TAKEDA PHARMACEUTICAL CO LTD 4,366,820 4,366,820
    TAKUMA CO LTD 6,950,827 6,950,827
    TAL EDUCATION GROUP ADR 1,632,915 1,632,915
    TARGET CORP 3,517,888 3,517,888
    TATA CONSULTANCY SVCS LTD 120,625,922 120,625,922
    TAYLOR WIMPEY PLC 2,843,907 2,843,907
    TBS HOLDINGS INC 39,252,770 39,252,770
    TDK CORP 14,270,679 14,270,679
    TECHNICOLOR REGR 1,589,995 1,589,995
    TECHNIP ENERGIES NV 133,207 133,207
    TECHNIPFMC PLC 271,934 271,934
    TECHNOLOGY SELECT SECTOR SPDR 8,519,630 8,519,630
    TECHNOPRO HOLDINGS INC 4,873,362 4,873,362
    TEIJIN LTD 14,648,270 14,648,270
    TELEPERFORMANCE 3,670,571 3,670,571
    TEMPLE BAR INVESTMENT TRUST PL 3,268,667 3,268,667
    TEMPLETON DRAGON FUND INC 30,962,134 30,962,134
    TEMPLETON EMERGING MARKETS FUN 7,011,774 7,011,774
    TEMPLETON EMERGING MARKETS INV 97,432,154 97,432,154
    TENARIS SA ADR 33,842,200 33,842,200
    TENCENT HOLDINGS LTD 60,062,553 60,062,553
    TESCO PLC 4,241,276 4,241,276
    THALES SA 1,695,552 1,695,552
    THE CHINA A SHARE CEF FUND 5,452,620 5,452,620
    THERMO FISHER SCIENTIFIC INC 3,786,587 3,786,587
    THIRD POINT INVESTORS LTD 16,382,929 16,382,929
    THORNBURG INCOME BUILDER OPPOR 948,245 948,245
    TIANGONG INTL CO LTD 19,577,294 19,577,294
    TJX COMPANIES INC 3,226,600 3,226,600
    TOAGOSEI CO LTD 13,050,237 13,050,237
    TOCALO CO LTD 7,701,945 7,701,945
    TODA CORP 19,281,838 19,281,838
    TOHO CO LTD 14,164,908 14,164,908
    TOHO HOLDINGS CO LTD 26,033,529 26,033,529
    TOKAI RIKA CO LTD 12,098,476 12,098,476
    TOKIO MARINE HOLDINGS INC 45,827,235 45,827,235
    TOKYO OHKA KOGYO CO LTD 23,295,558 23,295,558
    TOKYO SEIMITSU CO LTD 17,316,660 17,316,660
    TONGCHENG TRAVEL HOLDINGS LT 6,894,483 6,894,483
    TOPPAN INC 66,723,571 66,723,571
    TOPRE CORP 5,429,855 5,429,855
    TOSEI CORP 12,920,247 12,920,247
    TOTALENERGIES SE SPON ADR 1,904,210 1,904,210
    TOYO INK SC HOLDINGS CO LTD 10,029,960 10,029,960
    TOYO SEIKAN GROUP HOLDINGS L 49,255,354 49,255,354
    TOYO SUISAN KAISHA LTD 43,743,976 43,743,976
    TOYOTA INDUSTRIES CORP 67,435,630 67,435,630
    TOYOTA MOTOR CORP 137,592,976 137,592,976
    TR EUROPEAN GROWTH TRUST PLC 6,542,818 6,542,818
    TR PROPERTY INVESTMENT TRUST P 685,442 685,442
    TRANE TECHNOLOGIES PLC 3,212,277 3,212,277
    TRAVELEX TOPCO LIMITED 111,539 111,539
    TRAVELEX TOPCO LIMITED 1 1
    TRIP.COM GROUP LTD ADR 2,150,483 2,150,483
    TRUIST FINANCIAL CORP 3,869,862 3,869,862
    TRUWORTHS INTERNATIONAL LTD 20,807,832 20,807,832
    TSUBAKIMOTO CHAIN CO 10,153,272 10,153,272
    TSUMURA + CO 37,105,575 37,105,575
    TUI AG 3,856,650 3,856,650
    TUPRAS TURKIYE PETROL RAFINE 23,531,340 23,531,340
    TURKCELL ILETISIM HIZMET AS 18,618,264 18,618,264
    TV ASAHI HOLDINGS CORP 13,066,302 13,066,302
    UBS GROUP AG REG 900,194 900,194
    UNICHARM CORP 37,728,548 37,728,548
    UNICREDIT SPA 8,524,489 8,524,489
    UNILEVER PLC 9,195,659 9,195,659
    UNIPRES CORP 3,351,309 3,351,309
    UNITED PARCEL SERVICE CL B 492,642,271 492,642,271
    UNITEDHEALTH GROUP INC 3,165,993 3,165,993
    UTILICO EMERGING MARKETS TRUST 25,600,307 25,600,307
    VANGUARD FTSE ALL WORLD EX US 1,181,172 1,181,172
    VANGUARD FTSE EUROPE ETF 3,585,603 3,585,603
    VANGUARD INTERMEDIATE TERM COR 463,800 463,800
    VANGUARD LONG TERM CORPORATE B 687,960 687,960
    VANGUARD MORTGAGE BACKED SECUR 2,963,373 2,963,373
    VANGUARD TOTAL BOND MARKET ETF 3,230,755 3,230,755
    VESTAS WIND SYSTEMS A/S 13,123,871 13,123,871
    VICAT 585,512 585,512
    VIETNAM DAIRY PRODUCTS JSC 6,319,824 6,319,824
    VIETNAM ENTERPRISE INVESTMENTS 298,446,238 298,446,238
    VIETNAM HOLDING LTD 1,706,562 1,706,562
    VIETTEL POST JSC 6,067,702 6,067,702
    VINACAPITAL VIETNAM OPPORTUNIT 58,103,523 58,103,523
    VIRTUS DIVIDEND INTEREST + PRE 1,309,934 1,309,934
    VISA INC CLASS A SHARES 3,033,940 3,033,940
    VISCOFAN SA 3,035,519 3,035,519
    VNET GROUP INC ADR 6,773,737 6,773,737
    VOLKSWAGEN AG PREF 4,661,471 4,661,471
    VOYA ASIA PACIFIC HIGH DIVIDEN 1,112,716 1,112,716
    WALMART DE MEXICO SAB DE CV 72,255,198 72,255,198
    WALMART INC 1,002,852,033 1,002,852,033
    WALT DISNEY CO/THE 2,602,152 2,602,152
    WAM GLOBAL LTD 49,019 49,019
    WAM GLOBAL LTD 3,179,636 3,179,636
    WANHUA CHEMICAL GROUP CO A 45,372,325 45,372,325
    WANHUA CHEMICAL GROUP CO A 8,114,357 8,114,357
    WANT WANT CHINA HOLDINGS LTD 33,096,017 33,096,017
    WARTSILA OYJ ABP 2,231,722 2,231,722
    WASTE MANAGEMENT INC 3,109,959,857 3,109,959,857
    WEBER INC CLASS A 32,325,000 32,325,000
    WEISS KOREA OPPORTUNITY FUND L 16,250,178 16,250,178
    WESTERN ASSET EMERGING MARKETS 124,058 124,058
    WESTERN ASSET GLOBAL CORPORATE 111,919 111,919
    WESTERN ASSET INTERMEDIATE MUN 64,280 64,280
    WH GROUP LTD 6,431,528 6,431,528
    WH SMITH PLC 3,691,586 3,691,586
    WIENERBERGER AG 4,696,869 4,696,869
    WILL SEMICONDUCTOR CO LTD A 4,273,450 4,273,450
    WITAN INVESTMENT TRUST PLC 427,345 427,345
    WPP PLC 5,489,122 5,489,122
    WULIANGYE YIBIN CO LTD A 5,896,026 5,896,026
    WUXI APPTEC CO LTD H 3,823,352 3,823,352
    YAKULT HONSHA CO LTD 6,257,653 6,257,653
    YAMATO KOGYO CO LTD 21,026,008 21,026,008
    YIFENG PHARMACY CHAIN CO L A 4,297,531 4,297,531
    YIHAI INTERNATIONAL HOLDING 12,480,144 12,480,144
    YODOGAWA STEEL WORKS LTD 6,851,201 6,851,201
    YOKOGAWA BRIDGE HOLDINGS COR 11,930,160 11,930,160
    YTO EXPRESS GROUP CO LTD A 1,244,716 1,244,716
    YUNNAN ENERGY NEW MATERIAL A 6,664,918 6,664,918
    YUNNAN ENERGY NEW MATERIAL A 90,139,718 90,139,718
    YUSHIN PRECISION EQUIPMENT 5,420,826 5,420,826
    ZAI LAB LTD ADR 2,140,357 2,140,357
    ZENKOKU HOSHO CO LTD 18,324,971 18,324,971
    ZEON CORP 25,063,827 25,063,827
    ZHONGSHENG GROUP HOLDINGS 83,865,834 83,865,834
    ZOOMLION HEAVY INDUSTRY S A 3,944,948 3,944,948
    ZOZO INC 52,430,741 52,430,741
    ZTO EXPRESS CAYMAN INC 198,988 198,988
    ZTO EXPRESS CAYMAN INC ADR 6,135,451 6,135,451

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    US Government Securities - End of Year Book Value:

    5,418,392,633
    US Government Securities - End of Year Fair Market Value:

    5,418,392,633
    State & Local Government Securities - End of Year Book Value:


    20,874,609
    State & Local Government Securities - End of Year Fair Market Value:


    20,874,609


    TY 2021 InvestmentsOtherSchedule2
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    1011778 BC UNLIMITED LBLTY CO FMV 2,753,119 2,753,119
    522 FUNDING CLO LTD FMV 247,965 247,965
    522 FUNDING CLO LTD FMV 1,429,641 1,429,641
    90DAY EUR FUTR MAR22 FMV 5,203 5,203
    AAMES MORTGAGE INVESTMENT TRUS FMV 1,979,417 1,979,417
    ABPCI DIRECT LENDING FUND CLO FMV 1,210,258 1,210,258
    ABU DHABI GOVT INT L FMV 1,095,876 1,095,876
    ABU DHABI GOVT INT L FMV 2,692,384 2,692,384
    ACADEMY LTD FMV 253,404 253,404
    ACCESS GROUP INC FMV 922,489 922,489
    ACE SECURITIES CORP. FMV 1,832,234 1,832,234
    ACE SECURITIES CORP. FMV 10,646 10,646
    ADEVINTA ASA FMV 1,196,711 1,196,711
    ADJUSTABLE RATE MORTGAGE TRUST FMV 260,594 260,594
    ADJUSTABLE RATE MORTGAGE TRUST FMV 17,166 17,166
    ADJUSTABLE RATE MORTGAGE TRUST FMV 125,463 125,463
    ADJUSTABLE RATE MORTGAGE TRUST FMV 681,004 681,004
    ADJUSTABLE RATE MORTGAGE TRUST FMV 18,344 18,344
    ADJUSTABLE RATE MORTGAGE TRUST FMV 97,847 97,847
    ADJUSTABLE RATE MORTGAGE TRUST FMV 553,000 553,000
    ADJUSTABLE RATE MORTGAGE TRUST FMV 303,634 303,634
    ADJUSTABLE RATE MORTGAGE TRUST FMV 218,237 218,237
    ADVANZ PHARMA CORP FMV 853,079 853,079
    AEGIS ASSET BACKED SECURITIES FMV 958,185 958,185
    AENOVA HOLDING GMBH FMV 600,820 600,820
    AIR CANADA FMV 348,562 348,562
    ALBEA BEAUTY HOLDINGS S.A FMV 315,129 315,129
    ALBEA BEAUTY HOLDINGS S.A FMV 1,123,462 1,123,462
    ALBION FINANCING 3 SARL FMV 2,145,637 2,145,637
    ALI GROUP FMV 764,656 764,656
    ALIGNED DATA CENTERS ISSUER LL FMV 722,974 722,974
    ALLIED UNIVERSAL HOLDCO LLC FMV 2,077,077 2,077,077
    ALLNEX LUXEMBOURG + CY S.C.A. FMV 1 1
    ALLOY TOPCO LIMITED FMV 1 1
    ALMONDE INC FMV 2,829,756 2,829,756
    ALPHA GROUP SARL FMV 2,243,638 2,243,638
    ALTERRA MOUNTAIN COMPANY FMV 650,433 650,433
    ALTICE FRANCE SA FMV 587,062 587,062
    AMC ENTMT INC SYNDICATED LNS FMV 1,691,934 1,691,934
    AMENTUM GOVERNMENT SRVCS HLDGS FMV 148,534 148,534
    AMENTUM GOVT SERVI HOLDGS LLC FMV 485,405 485,405
    AMER SPORTS OYJ FMV 1,647,291 1,647,291
    AMERICAN EXPRESS CREDIT ACCOUN FMV 7,368,689 7,368,689
    AMERICAN HOME MORTGAGE ASSETS FMV 22,184 22,184
    AMERICAN HOME MORTGAGE ASSETS FMV 3,030,054 3,030,054
    AMERICAN HOME MORTGAGE ASSETS FMV 1,484,409 1,484,409
    AMERICAN HOME MORTGAGE ASSETS FMV 4,149 4,149
    AMERICAN HOME MORTGAGE ASSETS FMV 535,048 535,048
    AMERICAN HOME MORTGAGE INVESTM FMV 11,429 11,429
    AMERICAN HOME MORTGAGE INVESTM FMV 114,699 114,699
    AMERICAN HOMES 4 RENT FMV 674,074 674,074
    AMERICAN MONEY MANAGEMENT CORP FMV 684,877 684,877
    AMERICREDIT AUTOMOBILE RECEIVA FMV 1,966,671 1,966,671
    AMERIQUEST MORTGAGE SECURITIES FMV 8,040,682 8,040,682
    AMERIQUEST MORTGAGE SECURITIES FMV 1,246,590 1,246,590
    AMMERAAL BELTECH HOLDING B.V. FMV 2,820,398 2,820,398
    AMORTIZING RESIDENTIAL COLLATE FMV 7,437 7,437
    AMPHORA FINANCE LIMITED FMV 2,608,454 2,608,454
    AMSR TRUST FMV 783,340 783,340
    ANTIGUA BIDCO LIMITED FMV 567,497 567,497
    APEX CREDIT CLO LLC FMV 499,449 499,449
    APEX GROUP TREASURY LIMITED FMV 908,459 908,459
    API GROUP DE INC FMV 961,606 961,606
    APOLLO COML REAL ESTATE FIN IN FMV 690,497 690,497
    APPLEBEES/IHOP FUNDING LLC FMV 2,952,684 2,952,684
    AREIT CRE TRUST FMV 1,498,096 1,498,096
    ARES CLO LTD FMV 243,418 243,418
    ARES CLO LTD FMV 1,068,383 1,068,383
    ARES CLO LTD FMV 630,193 630,193
    ARI FLEET LEASE TRUST FMV 1,159,344 1,159,344
    ARMOR MCP FMV 7,243,217 7,243,217
    ARVOS BIDCO S.A.R.L. FMV 363,205 363,205
    ARVOS BIDCO S.A.R.L. FMV 363,205 363,205
    ARVOS BIDCO S.A.R.L. FMV 1,325,783 1,325,783
    ASP TPI HLDGS INC FMV 479,626 479,626
    ASPLUNDH TREE EXPERT LLC FMV 363,946 363,946
    ASSET BACKED FUNDING CERTIFICA FMV 6,077,863 6,077,863
    ASSET BACKED SECURITIES CORP H FMV 1,810,293 1,810,293
    ASURION LLC FMV 873,570 873,570
    ASURION LLC FMV 493,300 493,300
    ASURION LLC FMV 711,916 711,916
    ASURION LLC FMV 335,088 335,088
    ATHENAHEALTH INC FMV 1,709,255 1,709,255
    AURIS LUXEMBOURG III SARL FMV 9,521,146 9,521,146
    AUST 10Y BOND FUT MAR22 FMV 937,021 937,021
    AVIS BUDGET RENTAL CAR FUNDING FMV 4,163,795 4,163,795
    AVIS BUDGET RENTAL CAR FUNDING FMV 2,320,890 2,320,890
    AVIS BUDGET RENTAL CAR FUNDING FMV 16,223,184 16,223,184
    AVIS BUDGET RENTAL CAR FUNDING FMV 1,414,366 1,414,366
    AVOLON TLB BORROWER 1 (US) LLC FMV 2,115,357 2,115,357
    BAHIA DE LAS ISLETAS SL FMV 549,256 549,256
    BALLYROCK LTD FMV 373,439 373,439
    BANC OF AMERICA ALTERNATIVE LO FMV 152,727 152,727
    BANC OF AMERICA ALTERNATIVE LO FMV 1,697,826 1,697,826
    BANC OF AMERICA ALTERNATIVE LO FMV 939,186 939,186
    BANC OF AMERICA ALTERNATIVE LO FMV 642,502 642,502
    BANC OF AMERICA ALTERNATIVE LO FMV 103,746 103,746
    BANC OF AMERICA COMMERCIAL MOR FMV 2,646,742 2,646,742
    BANC OF AMERICA FUNDING CORPOR FMV 17,730 17,730
    BANC OF AMERICA FUNDING CORPOR FMV 510,355 510,355
    BANC OF AMERICA FUNDING CORPOR FMV 856,994 856,994
    BANC OF AMERICA FUNDING CORPOR FMV 3,748 3,748
    BANC OF AMERICA FUNDING CORPOR FMV 1,851,330 1,851,330
    BANC OF AMERICA FUNDING CORPOR FMV 215,254 215,254
    BANC OF AMERICA FUNDING CORPOR FMV 573,177 573,177
    BANC OF AMERICA FUNDING CORPOR FMV 445,129 445,129
    BANC OF AMERICA FUNDING CORPOR FMV 441,927 441,927
    BANC OF AMERICA FUNDING CORPOR FMV 33,221 33,221
    BANC OF AMERICA FUNDING CORPOR FMV 358,367 358,367
    BANC OF AMERICA FUNDING CORPOR FMV 2,176,011 2,176,011
    BANC OF AMERICA FUNDING CORPOR FMV 2,939,048 2,939,048
    BANC OF AMERICA FUNDING CORPOR FMV 1,311,024 1,311,024
    BANC OF AMERICA FUNDING CORPOR FMV 3,882,135 3,882,135
    BANC OF AMERICA FUNDING CORPOR FMV 5,654,981 5,654,981
    BANC OF AMERICA FUNDING CORPOR FMV 1,666,335 1,666,335
    BANC OF AMERICA FUNDING CORPOR FMV 134,793 134,793
    BANC OF AMERICA MORTGAGE SECUR FMV 47,560 47,560
    BANC OF AMERICA MORTGAGE SECUR FMV 107,711 107,711
    BANC OF AMERICA MORTGAGE SECUR FMV 38,817 38,817
    BANC OF AMERICA MORTGAGE SECUR FMV 109,120 109,120
    BANC OF AMERICA MORTGAGE SECUR FMV 92,514 92,514
    BANC OF AMERICA MORTGAGE SECUR FMV 285,623 285,623
    BANC OF AMERICA MORTGAGE SECUR FMV 204,706 204,706
    BANC OF AMERICA MORTGAGE SECUR FMV 23,566 23,566
    BANC OF AMERICA MORTGAGE SECUR FMV 59,246 59,246
    BANC OF AMERICA MORTGAGE SECUR FMV 59,422 59,422
    BANC OF AMERICA MORTGAGE SECUR FMV 26,191 26,191
    BANFF MERGER SUB INC FMV 1,689,381 1,689,381
    BANFF MERGER SUB INC FMV 1,320,186 1,320,186
    BANFF MERGER SUB INC FMV 412,311 412,311
    BANIJAY ENTERTAINMENT SAS FMV 1,990,000 1,990,000
    BANK FMV 1,215,067 1,215,067
    BANK FMV 1,210,845 1,210,845
    BANK FMV 522,803 522,803
    BANK 2021 BN35 FMV 6,283,758 6,283,758
    BANK 2021 BN35 FMV 1,201,378 1,201,378
    BANK ACCEPT FUTR DEC22 FMV 141,100 141,100
    BARCLAYS COMMERCIAL MORTGAGE S FMV 711,614 711,614
    BAYVIEW COMMERCIAL ASSET TRUST FMV 309,871 309,871
    BAYVIEW COMMERCIAL ASSET TRUST FMV 86,191 86,191
    BAYVIEW COMMERCIAL ASSET TRUST FMV 18,073,735 18,073,735
    BAYVIEW FINANCIAL ACQUISITION FMV 452,909 452,909
    BAYVIEW FINANCIAL ACQUISITION FMV 164,732 164,732
    BAYVIEW FINANCIAL ACQUISITION FMV 4,104,140 4,104,140
    BBCCRE TRUST FMV 1,847,648 1,847,648
    BCAP LLC TRUST FMV 791,515 791,515
    BCAP LLC TRUST FMV 1,180,965 1,180,965
    BCC FUNDING CORP FMV 1,101,816 1,101,816
    BCP V MODULAR SERV HOLD IV LTD FMV 2,231,804 2,231,804
    BDS LTD FMV 1,496,572 1,496,572
    BEAR STEARNS ADJUSTABLE RATE M FMV 561,914 561,914
    BEAR STEARNS ADJUSTABLE RATE M FMV 48,319 48,319
    BEAR STEARNS ADJUSTABLE RATE M FMV 46,617 46,617
    BEAR STEARNS ADJUSTABLE RATE M FMV 68,794 68,794
    BEAR STEARNS ADJUSTABLE RATE M FMV 41,519 41,519
    BEAR STEARNS ADJUSTABLE RATE M FMV 55,944 55,944
    BEAR STEARNS ADJUSTABLE RATE M FMV 27,395 27,395
    BEAR STEARNS ADJUSTABLE RATE M FMV 31,821 31,821
    BEAR STEARNS ALT A TRUST FMV 78,611 78,611
    BEAR STEARNS ALT A TRUST FMV 255,509 255,509
    BEAR STEARNS ALT A TRUST FMV 573,765 573,765
    BEAR STEARNS ALT A TRUST FMV 64,390 64,390
    BEAR STEARNS ALT A TRUST FMV 1,841,361 1,841,361
    BEAR STEARNS ALT A TRUST FMV 607,413 607,413
    BEAR STEARNS ASSET BACKED SECU FMV 41,342 41,342
    BEAR STEARNS ASSET BACKED SECU FMV 1 1
    BEAR STEARNS ASSET BACKED SECU FMV 3,458,177 3,458,177
    BEAR STEARNS ASSET BACKED SECU FMV 3,131,299 3,131,299
    BEAR STEARNS ASSET BACKED SECU FMV 103,121 103,121
    BEAR STEARNS ASSET BACKED SECU FMV 1,307,135 1,307,135
    BEAR STEARNS ASSET BACKED SECU FMV 236,292 236,292
    BEAR STEARNS COMMERCIAL MORTGA FMV 5,242,954 5,242,954
    BEAR STEARNS COMMERCIAL MORTGA FMV 1,500,000 1,500,000
    BEAR STEARNS MORTGAGE FUNDING FMV 348,456 348,456
    BEAR STEARNS MORTGAGE FUNDING FMV 241,150 241,150
    BEAR STEARNS MORTGAGE FUNDING FMV 846,492 846,492
    BEAR STEARNS STRUCTURED PRODUC FMV 91 91
    BEAR STEARNS STRUCTURED PRODUC FMV 108 108
    BEAR STEARNS STRUCTURED PRODUC FMV 558 558
    BEAR STEARNS STRUCTURED PRODUC FMV 740 740
    BEAR STEARNS STRUCTURED PRODUC FMV 280 280
    BEAR STEARNS STRUCTURED PRODUC FMV 495 495
    BELLA VISTA MORTGAGE TRUST FMV 102,530 102,530
    BENCHMARK MORTGAGE TRUST FMV 793,588 793,588
    BENCHMARK MORTGAGE TRUST FMV 881,135 881,135
    BENCHMARK MORTGAGE TRUST FMV 771,056 771,056
    BENCHMARK MORTGAGE TRUST FMV 4,487,385 4,487,385
    BENEFIT STREET PARTNERS CLO LT FMV 510,371 510,371
    BERRY GLOBAL INC FMV 594,374 594,374
    BFLD TRUST FMV 1,290,845 1,290,845
    BHMS MORTGAGE TRUST FMV 2,395,625 2,395,625
    BLUEMOUNTAIN CLO LTD FMV 249,752 249,752
    BLUEMOUNTAIN CLO LTD FMV 561,622 561,622
    BONOS DE TESORERIA FMV 3,058,340 3,058,340
    BONOS DE TESORERIA FMV 1,877,403 1,877,403
    BOUGHT BRL/SOLD USD FMV 269,109 269,109
    BOUGHT EUR/SOLD USD FMV 99,459 99,459
    BOUGHT GBP/SOLD USD FMV 230,060 230,060
    BOUGHT IDR/SOLD USD FMV 57,704 57,704
    BOUGHT INR/SOLD USD FMV 42,882 42,882
    BOUGHT MXN/SOLD USD FMV 16,124,671 16,124,671
    BOUGHT NOK/SOLD EUR FMV 5,079,235 5,079,235
    BOUGHT NOK/SOLD USD FMV 196,176 196,176
    BOUGHT PEN/SOLD USD FMV 406 406
    BOUGHT SEK/SOLD USD FMV 417,817 417,817
    BOUGHT SGD/SOLD USD FMV 9,268 9,268
    BOUGHT USD/SOLD BRL FMV 1,275,338 1,275,338
    BOUGHT USD/SOLD CAD FMV 99,970 99,970
    BOUGHT USD/SOLD CLP FMV 137,178 137,178
    BOUGHT USD/SOLD COP FMV 149,385 149,385
    BOUGHT USD/SOLD HKD FMV 141 141
    BOUGHT USD/SOLD ILS FMV 5,689 5,689
    BOUGHT USD/SOLD JPY FMV 11,387,788 11,387,788
    BOUGHT USD/SOLD NZD FMV 21,080 21,080
    BOUGHT USD/SOLD SAR FMV 2,858 2,858
    BRICKMAN GROUP LTD FMV 661,968 661,968
    BRIDGEWATER PURE ALPHA LEAD FMV 85,888,939 85,888,939
    BRISTOL PARK CLO, LTD. FMV 498,131 498,131
    BROOKFIELD WEC HOLDINGS INC FMV 121,286 121,286
    BX COMMERCIAL MORTGAGE TRUST 2 FMV 1,256,708 1,256,708
    BX TRUST FMV 453,858 453,858
    BX TRUST FMV 3,431,033 3,431,033
    BX TRUST FMV 2,185,877 2,185,877
    BX TRUST FMV 1,835,711 1,835,711
    BX TRUST FMV 1,017,101 1,017,101
    BX TRUST FMV 3,783,341 3,783,341
    BX TRUST FMV 2,583,871 2,583,871
    BX TRUST FMV 734,486 734,486
    BX TRUST FMV 1,059,262 1,059,262
    BX TRUST FMV 1,201,907 1,201,907
    CAESARS RESORT COLLECTION LLC FMV 1,358,728 1,358,728
    CAESARS RESORT COLLECTION LLC FMV 1,204,770 1,204,770
    CAMB COMMERCIAL MORTGAGE TRUST FMV 1,240,947 1,240,947
    CAN 10YR BOND FUT MAR22 FMV 585,388 585,388
    CANADA HOUSING TRUST FMV 240,459,522 240,459,522
    CANADA HOUSING TRUST FMV 291,380,008 291,380,008
    CANADA HOUSING TRUST FMV 84,746,898 84,746,898
    CANADA T BILL FMV 166,241,397 166,241,397
    CANADIAN GOVERNMENT FMV 3,938,594 3,938,594
    CANADIAN GOVERNMENT FMV 2,973,445 2,973,445
    CANADIAN GOVERNMENT FMV 3,021,780 3,021,780
    CANADIAN GOVERNMENT FMV 2,438,159 2,438,159
    CANYON CAPITAL CLO LTD FMV 1,309,999 1,309,999
    CANYON CAPITAL CLO LTD FMV 315,600 315,600
    CANYON CAPITAL CLO LTD FMV 287,389 287,389
    CAPITAL ONE MULTI ASSET EXECUT FMV 2,032,491 2,032,491
    CAPITAL ONE MULTI ASSET EXECUT FMV 1,504,581 1,504,581
    CARLYLE GLOBAL MARKET STRATEGI FMV 465,905 465,905
    CARNIVAL CORPORATION FMV 2,244,324 2,244,324
    CARRINGTON MORTGAGE LOAN TRUST FMV 18,846,711 18,846,711
    CASINO GUICHARD PERRACHON SA FMV 5,481,664 5,481,664
    CASPER BIDCO SAS FMV 3,667,858 3,667,858
    CASTLELAKE AVIATION ONE DSGNTD FMV 406,803 406,803
    CATSKILL PARK CLO, LTD. FMV 1,185,286 1,185,286
    CAYUGA PARK CLO, LTD. FMV 998,885 998,885
    CBS COMMERCIAL SMALL BALANCE C FMV 173,472 173,472
    CD COMMERCIAL MORTGAGE TRUST FMV 838,346 838,346
    CDS USD FMV 145,285,997 145,285,997
    CENTEX HOME EQUITY FMV 48,830 48,830
    CENTEX HOME EQUITY FMV 32,438 32,438
    CENTEX HOME EQUITY FMV 502,287 502,287
    CEP IV INVESTMENT 16 S.A.R.L. FMV 2,924,240 2,924,240
    CEP IV INVESTMENT 16 S.A.R.L. FMV 2,443,011 2,443,011
    CERBERUS FMV 380,914 380,914
    CF HIPPOLYTA ISSUER LLC FMV 494,086 494,086
    CFK TRUST FMV 2,275,316 2,275,316
    CHANGE HEALTHCARE HLDGS INC FMV 1,286,530 1,286,530
    CHARTER COMMUNICATIONS OPERATI FMV 1,922,058 1,922,058
    CHARTER COMMUNICATIONS OPERATI FMV 87,961 87,961
    CHASE FUNDING LOAN ACQUISITION FMV 5,273,599 5,273,599
    CHEVY CHASE MORTGAGE FUNDING C FMV 25,079 25,079
    CHEVY CHASE MORTGAGE FUNDING C FMV 324,453 324,453
    CHINA GOVERNMENT BOND FMV 84,754,472 84,754,472
    CHINA GOVERNMENT BOND FMV 47,062,378 47,062,378
    CHINA GOVERNMENT BOND FMV 262,075,769 262,075,769
    CHINA TREASURY BILL FMV 62,399,090 62,399,090
    CHINA TREASURY BILL FMV 31,155,010 31,155,010
    CHINA TREASURY BILL FMV 30,964,877 30,964,877
    CHINA TREASURY BILL FMV 78,082,955 78,082,955
    CHINA TREASURY BILL FMV 31,170,813 31,170,813
    CHINA TREASURY BILL FMV 30,990,813 30,990,813
    CHINA TREASURY BILL FMV 31,188,625 31,188,625
    CHROMIUM FUND LP FMV 127,810,341 127,810,341
    CIM TRUST FMV 693,479 693,479
    CITADEL SECURITIES LP FMV 970,796 970,796
    CITICORP RESIDENTIAL MORTGAGE FMV 7,863,738 7,863,738
    CITIGROUP COMMERCIAL MORTGAGE FMV 2,078,981 2,078,981
    CITIGROUP COMMERCIAL MORTGAGE FMV 536,608 536,608
    CITIGROUP COMMERCIAL MORTGAGE FMV 1,226,355 1,226,355
    CITIGROUP COMMERCIAL MORTGAGE FMV 465,784 465,784
    CITIGROUP COMMERCIAL MORTGAGE FMV 976,676 976,676
    CITIGROUP MORTGAGE LOAN TRUST FMV 128,237 128,237
    CITIGROUP MORTGAGE LOAN TRUST FMV 57,494 57,494
    CITIGROUP MORTGAGE LOAN TRUST FMV 31,488 31,488
    CITIGROUP MORTGAGE LOAN TRUST FMV 92,149 92,149
    CITIGROUP MORTGAGE LOAN TRUST FMV 714,745 714,745
    CITIGROUP MORTGAGE LOAN TRUST FMV 780,377 780,377
    CITIGROUP MORTGAGE LOAN TRUST FMV 48,175 48,175
    CITIGROUP MORTGAGE LOAN TRUST FMV 193,534 193,534
    CITIGROUP MORTGAGE LOAN TRUST FMV 71,941 71,941
    CITIGROUP MORTGAGE LOAN TRUST FMV 1,758,296 1,758,296
    CITIGROUP MORTGAGE LOAN TRUST FMV 109,497 109,497
    CITIGROUP MORTGAGE LOAN TRUST FMV 760,126 760,126
    CITIGROUP MORTGAGE LOAN TRUST FMV 1,214,320 1,214,320
    CITIMORTGAGE ALTERNATIVE LOAN FMV 124,104 124,104
    CITY BREWING COMPANY, LLC FMV 942,219 942,219
    CITYCENTER HLDGS LLC FMV 1 1
    CLARIOS GLOBAL LP FMV 1,130,092 1,130,092
    CLOUDERA, INC. FMV 288,913 288,913
    COLOUROZ INVESTMENT 1 GMBH FMV 1,277,178 1,277,178
    COLOUROZ INVESTMENT 1 GMBH FMV 81,592 81,592
    COLOUROZ INVESTMENT 2 LLC FMV 625,848 625,848
    COMM MORTGAGE TRUST FMV 75,335 75,335
    COMM MORTGAGE TRUST FMV 924,538 924,538
    COMM MORTGAGE TRUST FMV 1,219,711 1,219,711
    COMM MORTGAGE TRUST FMV 1,860,919 1,860,919
    COMM MORTGAGE TRUST FMV 1,124,992 1,124,992
    COMM MORTGAGE TRUST FMV 2,030,015 2,030,015
    COMM MORTGAGE TRUST FMV 770,653 770,653
    COMM MORTGAGE TRUST FMV 105,391 105,391
    COMM MORTGAGE TRUST FMV 955,078 955,078
    COMM MORTGAGE TRUST FMV 526,459 526,459
    COMPASS IV LIMITED FMV 1,648,940 1,648,940
    CONSECO FINANCE SECURITIZATION FMV 138,624 138,624
    CONSECO FINANCIAL CORP FMV 415,541 415,541
    CONSTELLATION AUTOMOTIVE LTD FMV 2,570,238 2,570,238
    CONSTELLATION AUTOMOTIVE LTD FMV 1,435,058 1,435,058
    CONTIMORTGAGE HOME EQUITY LOAN FMV 75,351 75,351
    CONTIMORTGAGE HOME EQUITY LOAN FMV 118,663 118,663
    COOK PARK CLO, LTD FMV 242,348 242,348
    COTY INC FMV 1,259,002 1,259,002
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 136,430 136,430
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 599,218 599,218
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 61,054 61,054
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 1,857,050 1,857,050
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 207,795 207,795
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 201,449 201,449
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 924,133 924,133
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 81,019 81,019
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 96,120 96,120
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 210,397 210,397
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 101,112 101,112
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 209,975 209,975
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 1,059,410 1,059,410
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 64,656 64,656
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 298,563 298,563
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 229,412 229,412
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 872 872
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 6,659,555 6,659,555
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 1,854,743 1,854,743
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 23,211 23,211
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 414,246 414,246
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 54,387 54,387
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 2,877,938 2,877,938
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 3,445 3,445
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 1,073,098 1,073,098
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 175,536 175,536
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 14,977 14,977
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 162,912 162,912
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 34,422 34,422
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 52,525 52,525
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 78,306 78,306
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 25,152 25,152
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 56,031 56,031
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 228,201 228,201
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 382,556 382,556
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 2,816,708 2,816,708
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 135,694 135,694
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 4,524,635 4,524,635
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 71,139 71,139
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 884,037 884,037
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 206,605 206,605
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 197,689 197,689
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 304 304
    COUNTRYWIDE ALTERNATIVE LOAN T FMV 145,235 145,235
    COUNTRYWIDE ASSET BACKED CERTI FMV 1 1
    COUNTRYWIDE ASSET BACKED CERTI FMV 74,303 74,303
    COUNTRYWIDE ASSET BACKED CERTI FMV 571,255 571,255
    COUNTRYWIDE ASSET BACKED CERTI FMV 3,310,580 3,310,580
    COUNTRYWIDE ASSET BACKED CERTI FMV 2,061,035 2,061,035
    COUNTRYWIDE ASSET BACKED CERTI FMV 733,426 733,426
    COUNTRYWIDE ASSET BACKED CERTI FMV 701,163 701,163
    COUNTRYWIDE ASSET BACKED CERTI FMV 1,830,172 1,830,172
    COUNTRYWIDE HOME EQUITY LOAN T FMV 84,869 84,869
    COUNTRYWIDE HOME EQUITY LOAN T FMV 667,855 667,855
    COUNTRYWIDE HOME LOANS FMV 510,878 510,878
    COUNTRYWIDE HOME LOANS FMV 154,663 154,663
    COUNTRYWIDE HOME LOANS FMV 323,244 323,244
    COUNTRYWIDE HOME LOANS FMV 2,456 2,456
    COUNTRYWIDE HOME LOANS FMV 2,466,596 2,466,596
    COUNTRYWIDE HOME LOANS FMV 201,119 201,119
    COUNTRYWIDE HOME LOANS FMV 411,119 411,119
    COUNTRYWIDE HOME LOANS FMV 110,677 110,677
    COUNTRYWIDE HOME LOANS FMV 10,450 10,450
    COUNTRYWIDE HOME LOANS FMV 11,129 11,129
    COUNTRYWIDE HOME LOANS FMV 56,902 56,902
    COUNTRYWIDE HOME LOANS FMV 614,609 614,609
    COUNTRYWIDE HOME LOANS FMV 3,376,470 3,376,470
    COUNTRYWIDE HOME LOANS FMV 103,416 103,416
    COUNTRYWIDE HOME LOANS FMV 27,360 27,360
    COUNTRYWIDE HOME LOANS FMV 231,944 231,944
    COUNTRYWIDE HOME LOANS FMV 133,050 133,050
    COUNTRYWIDE HOME LOANS FMV 50,150 50,150
    COUNTRYWIDE HOME LOANS FMV 80,427 80,427
    COUNTRYWIDE HOME LOANS FMV 111,733 111,733
    COUNTRYWIDE HOME LOANS FMV 484,004 484,004
    CREDIT BASED ASSET SERVICING A FMV 1,562,444 1,562,444
    CREDIT BASED ASSET SERVICING A FMV 7,518,142 7,518,142
    CREDIT SUISSE COMMERCIAL MORTG FMV 1,583,933 1,583,933
    CREDIT SUISSE FIRST BOSTON MOR FMV 133,679 133,679
    CREDIT SUISSE FIRST BOSTON MOR FMV 12,760 12,760
    CREDIT SUISSE MORTGAGE TRUST FMV 2,281,376 2,281,376
    CREDIT SUISSE MORTGAGE TRUST FMV 1,461,317 1,461,317
    CREDIT SUISSE MORTGAGE TRUST FMV 2,167,490 2,167,490
    CREDIT SUISSE MORTGAGE TRUST FMV 629,476 629,476
    CREDIT SUISSE MORTGAGE TRUST FMV 2,255,286 2,255,286
    CREDIT SUISSE MORTGAGE TRUST FMV 1,645,056 1,645,056
    CREDIT SUISSE MORTGAGE TRUST FMV 959,711 959,711
    CREDIT SUISSE MORTGAGE TRUST FMV 441,427 441,427
    CREDIT SUISSE MORTGAGE TRUST FMV 379,305 379,305
    CREDIT SUISSE MORTGAGE TRUST FMV 379,143 379,143
    CREDIT SUISSE MORTGAGE TRUST FMV 1,427,326 1,427,326
    CREDIT SUISSE MORTGAGE TRUST FMV 267,799 267,799
    CREDIT SUISSE MORTGAGE TRUST FMV 468,875 468,875
    CREDIT SUISSE MORTGAGE TRUST FMV 445,647 445,647
    CROWN FIN US INC FMV 1,425,132 1,425,132
    CROWN FIN US INC FMV 512,596 512,596
    CROWN FINANCE US INC FMV 15,015 15,015
    CROWN FINANCE US, INC FMV 1 1
    CSAB MORTGAGE BACKED TRUST FMV 631,448 631,448
    CSAB MORTGAGE BACKED TRUST FMV 1,105,312 1,105,312
    CSAIL COMMERCIAL MORTGAGE TRUS FMV 768,929 768,929
    CSC HOLDINGS LLC FMV 156,873 156,873
    CSC HOLDINGS, LLC FMV 174,418 174,418
    CTC ACQUICO GMBH FMV 3,968,540 3,968,540
    CURIUM BIDCO SARL FMV 2,012,500 2,012,500
    DB MASTER FINANCE LLC FMV 661,709 661,709
    DB MASTER FINANCE LLC FMV 1,560,466 1,560,466
    DCERT BUYER INC FMV 1,555,555 1,555,555
    DEERFIELD DAKOTA HOLDING LLC FMV 1,241,675 1,241,675
    DELTA 2 ( LUX ) SARL FMV 49,917 49,917
    DEOLEO FINANCIAL LIMITED FMV 1,238,423 1,238,423
    DEUTSCHE ALT A SECURITIES INC FMV 170,333 170,333
    DEUTSCHE ALT A SECURITIES INC FMV 594,172 594,172
    DEUTSCHE ALT A SECURITIES INC FMV 514,564 514,564
    DEUTSCHE ALT A SECURITIES INC FMV 159,175 159,175
    DEUTSCHE ALT A SECURITIES NIM FMV 2 2
    DEUTSCHE BANK COMMERCIAL MORTG FMV 5,575,304 5,575,304
    DEUTSCHE FINANCIAL CAPITAL SEC FMV 2,483,100 2,483,100
    DEUTSCHE MORTGAGE SECURITIES, FMV 45,755 45,755
    DEUTSCHE MORTGAGE SECURITIES, FMV 328,438 328,438
    DEXKO GLOBAL INC FMV 201,568 201,568
    DEXKO GLOBAL INC FMV 651,450 651,450
    DEXKO GLOBAL INC FMV 1,252,722 1,252,722
    DIEBOLD INC FMV 1,665,543 1,665,543
    DISCOVER CARD EXECUTION NOTE T FMV 5,829,122 5,829,122
    DISCOVER CARD EXECUTION NOTE T FMV 6,498,519 6,498,519
    DIVIDEND SOLAR LOANS LLC FMV 806,908 806,908
    DIVIDEND SOLAR LOANS LLC FMV 641,950 641,950
    DJIA MINI E-CBOT MAR22 FMV 2,745,256 2,745,256
    DOMINOS PIZZA MASTER ISSUER LL FMV 635,484 635,484
    DONCASTERS FINANCE US LLC FMV 589,804 589,804
    DONCASTERS FINANCE US LLC FMV 495,940 495,940
    DONCASTERS FINANCE US LLC FMV 1,018,866 1,018,866
    DRYDEN SENIOR LOAN FUND FMV 535,470 535,470
    DRYDEN SENIOR LOAN FUND FMV 1,875,855 1,875,855
    DRYDEN SENIOR LOAN FUND FMV 707,663 707,663
    DRYDEN SENIOR LOAN FUND FMV 1,228,839 1,228,839
    DSLA MORTGAGE LOAN TRUST FMV 130,337 130,337
    DSLA MORTGAGE LOAN TRUST FMV 190,292 190,292
    DSLA MORTGAGE LOAN TRUST FMV 34,995 34,995
    EAGLE BIDCO LIMITED FMV 807,843 807,843
    EAGLE BIDCO LIMITED FMV 773,411 773,411
    EAGLE BIDCO LIMITED FMV 693,403 693,403
    EATON VANCE CDO LTD FMV 889,248 889,248
    EATON VANCE CDO LTD FMV 756,321 756,321
    EDELMAN FINANCIAL CENTER LLC FMV 1,120,882 1,120,882
    EG GROUP LIMITED FMV 1,527,991 1,527,991
    ELEMENT MATERIALS TECH GROUP FMV 2,666,018 2,666,018
    ELLINGTON LOAN ACQUISITION TRU FMV 1,523,114 1,523,114
    ELP 2021 ELP FMV 785,329 785,329
    ELYSIUM HEALTHCARE HOLD 3 LTD FMV 4,112,288 4,112,288
    EMC MORTGAGE LOAN TRUST FMV 144,226 144,226
    EMC MORTGAGE LOAN TRUST FMV 910,165 910,165
    EMPIRE TODAY LLC FMV 980,044 980,044
    ENGINEERED MACHINERY HLGS INC FMV 501,250 501,250
    ENGINEERED MACHINERY HOLD INC FMV 1,099,538 1,099,538
    ENTERCOM MEDIA CORP FMV 251,682 251,682
    EQUIFIRST LOAN SECURITIZATION FMV 1,731,258 1,731,258
    EUR 1Y MIDCV OP JUN22P 98.25 FMV 239,850 239,850
    EUR 1Y MIDCV OP MAR22P 98.5 FMV 67,563 67,563
    EURO-BUND FUTURE MAR22 FMV 2,407,221 2,407,221
    EURO-BUXL 30Y BND MAR22 FMV 2,086,963 2,086,963
    EURO-OAT FUTURE MAR22 FMV 428,445 428,445
    EURO-SCHATZ FUT MAR22 FMV 55,379 55,379
    EXC HLDGS III CORP FMV 544,491 544,491
    FANNIE MAE FMV 3,289 3,289
    FANNIE MAE FMV 833 833
    FANNIE MAE FMV 3,172 3,172
    FANNIE MAE FMV 4,608 4,608
    FANNIE MAE FMV 74,793 74,793
    FANNIE MAE FMV 11,160 11,160
    FANNIE MAE FMV 6,548 6,548
    FANNIE MAE FMV 3,508 3,508
    FANNIE MAE FMV 2,499 2,499
    FANNIE MAE FMV 6 6
    FANNIE MAE FMV 14,200 14,200
    FANNIE MAE FMV 22,554 22,554
    FANNIE MAE FMV 391 391
    FANNIE MAE FMV 38,544 38,544
    FANNIE MAE FMV 2,720,195 2,720,195
    FANNIE MAE CAS FMV 794,941 794,941
    FANNIE MAE CAS FMV 212,701 212,701
    FANNIE MAE CAS FMV 820,772 820,772
    FANNIE MAE CAS FMV 484,574 484,574
    FANNIE MAE CAS FMV 1,209,536 1,209,536
    FANNIE MAE CAS FMV 473,020 473,020
    FANNIE MAE CAS FMV 2,033,042 2,033,042
    FANNIE MAE CAS FMV 2,101,121 2,101,121
    FANNIE MAE CAS FMV 1,204,688 1,204,688
    FANNIEMAE ACES FMV 124,538 124,538
    FANNIEMAE ACES FMV 248,840 248,840
    FANNIEMAE ACES FMV 198,089 198,089
    FANNIEMAE STRIP FMV 77 77
    FANNIEMAE STRIP FMV 1 1
    FANNIEMAE STRIP FMV 8,836 8,836
    FANNIEMAE STRIP FMV 403 403
    FANNIEMAE STRIP FMV 1,625 1,625
    FANNIEMAE STRIP FMV 3,617 3,617
    FANNIEMAE STRIP FMV 5,039 5,039
    FANNIEMAE STRIP FMV 1,437 1,437
    FEB22 215 PUT FSO FMV 425,011 425,011
    FED HM LN PC POOL 841088 FMV 464,080 464,080
    FED HM LN PC POOL 841089 FMV 468,680 468,680
    FED HM LN PC POOL C91981 FMV 289,150 289,150
    FED HM LN PC POOL G07921 FMV 1,431,962 1,431,962
    FED HM LN PC POOL G08784 FMV 872,046 872,046
    FED HM LN PC POOL G30615 FMV 113,053 113,053
    FED HM LN PC POOL G60596 FMV 947,779 947,779
    FED HM LN PC POOL G60722 FMV 1,521,212 1,521,212
    FED HM LN PC POOL Q22877 FMV 892,218 892,218
    FED HM LN PC POOL Q42019 FMV 1,659,648 1,659,648
    FED HM LN PC POOL Q50003 FMV 286,270 286,270
    FED HM LN PC POOL Q50962 FMV 299,002 299,002
    FED HM LN PC POOL Q56007 FMV 533,294 533,294
    FED HM LN PC POOL QA0127 FMV 954,766 954,766
    FED HM LN PC POOL QA2141 FMV 612,665 612,665
    FED HM LN PC POOL QA3570 FMV 3,358,526 3,358,526
    FED HM LN PC POOL QA4404 FMV 1,033,710 1,033,710
    FED HM LN PC POOL QA5485 FMV 898,679 898,679
    FED HM LN PC POOL QA5555 FMV 776,253 776,253
    FED HM LN PC POOL QA5557 FMV 2,729,519 2,729,519
    FED HM LN PC POOL QA5567 FMV 225,317 225,317
    FED HM LN PC POOL QA8518 FMV 238,550 238,550
    FED HM LN PC POOL QA8958 FMV 1,541,358 1,541,358
    FED HM LN PC POOL QB2668 FMV 2,537,877 2,537,877
    FED HM LN PC POOL QC1805 FMV 6,033,295 6,033,295
    FED HM LN PC POOL QC5416 FMV 4,123,024 4,123,024
    FED HM LN PC POOL RA2895 FMV 2,779,553 2,779,553
    FED HM LN PC POOL RA3575 FMV 3,202,389 3,202,389
    FED HM LN PC POOL RB5015 FMV 719,452 719,452
    FED HM LN PC POOL SD8142 FMV 1,686,567 1,686,567
    FED HM LN PC POOL SD8148 FMV 3,057,136 3,057,136
    FED HM LN PC POOL ZS4646 FMV 2,539,337 2,539,337
    FED HM LN PC POOL ZS4712 FMV 1,678,587 1,678,587
    FED HM LN PC POOL ZS8673 FMV 94,637 94,637
    FED HM LN PC POOL ZT0794 FMV 577,521 577,521
    FED HOME LN DISCOUNT NT FMV 2,985,310 2,985,310
    FED HOME LN DISCOUNT NT FMV 2,259,796 2,259,796
    FED HOME LN DISCOUNT NT FMV 6,659,316 6,659,316
    FED REPUBLIC OF BRAZIL FMV 1,417,508 1,417,508
    FED REPUBLIC OF BRAZIL FMV 203,500 203,500
    FED REPUBLIC OF BRAZIL FMV 646,530 646,530
    FHLMC MULTIFAMILY STRUCTURED P FMV 85,262 85,262
    FHLMC MULTIFAMILY STRUCTURED P FMV 122,760 122,760
    FINANCIERE SUN S.A.S FMV 1,225,063 1,225,063
    FINANCIERE VERDI I SAS FMV 3,352,264 3,352,264
    FINASTRA USA, INC. FMV 3,100,553 3,100,553
    FINCO I LLC FMV 44,718 44,718
    FIRST ALLIANCE MORTGAGE LOAN T FMV 43,027 43,027
    FIRST EAGLE HOLDINGS INC FMV 954,874 954,874
    FIRST FRANKLIN MTG LOAN ASSET FMV 17,488 17,488
    FIRST FRANKLIN MTG LOAN ASSET FMV 16,779,458 16,779,458
    FIRST HORIZON ALTERNATIVE MORT FMV 1,029,269 1,029,269
    FIRST HORIZON MORTGAGE PASS TH FMV 90,511 90,511
    FIRSTFED CORP MANUFACTURED HOU FMV 949 949
    FLAGSTAR MORTGAGE TRUST FMV 1,609,397 1,609,397
    FLAGSTAR MORTGAGE TRUST FMV 30,446 30,446
    FLINT GROUP GMBH FMV 780,415 780,415
    FLINT GROUP GMBH FMV 183,875 183,875
    FLINT GROUP GMBH FMV 292,491 292,491
    FLINT GROUP GMBH FMV 186,882 186,882
    FLINT GROUP GMBH FMV 1,157,089 1,157,089
    FLINT GROUP US LLC FMV 5,537,844 5,537,844
    FNMA POOL 387770 FMV 3,524,357 3,524,357
    FNMA POOL 890827 FMV 105,764 105,764
    FNMA POOL AL3471 FMV 1,487,394 1,487,394
    FNMA POOL AL3673 FMV 241,167 241,167
    FNMA POOL AL6598 FMV 1,341,064 1,341,064
    FNMA POOL AL7047 FMV 2,753,747 2,753,747
    FNMA POOL AL7501 FMV 3,747,149 3,747,149
    FNMA POOL AL9546 FMV 29,205 29,205
    FNMA POOL AM8674 FMV 83,487 83,487
    FNMA POOL AN5796 FMV 2,884,844 2,884,844
    FNMA POOL AS0044 FMV 2,035,341 2,035,341
    FNMA POOL AS6789 FMV 823,765 823,765
    FNMA POOL AS7372 FMV 1,112,698 1,112,698
    FNMA POOL AS8740 FMV 29,549 29,549
    FNMA POOL AT2016 FMV 2,012,133 2,012,133
    FNMA POOL AT2032 FMV 262,024 262,024
    FNMA POOL AZ2953 FMV 1,749,892 1,749,892
    FNMA POOL BC0791 FMV 1,036,477 1,036,477
    FNMA POOL BC1747 FMV 1,237,233 1,237,233
    FNMA POOL BC9468 FMV 1,428,567 1,428,567
    FNMA POOL BD3029 FMV 1,746,698 1,746,698
    FNMA POOL BE2369 FMV 1,577,402 1,577,402
    FNMA POOL BF0104 FMV 208,385 208,385
    FNMA POOL BF0183 FMV 116,683 116,683
    FNMA POOL BF0301 FMV 56,167 56,167
    FNMA POOL BJ4604 FMV 1,322,309 1,322,309
    FNMA POOL BM1948 FMV 183,204 183,204
    FNMA POOL BM4801 FMV 1,432,408 1,432,408
    FNMA POOL BM5024 FMV 2,264,568 2,264,568
    FNMA POOL BM6482 FMV 596,238 596,238
    FNMA POOL BM6781 FMV 1,628,907 1,628,907
    FNMA POOL BN6691 FMV 450,002 450,002
    FNMA POOL BO2200 FMV 613,744 613,744
    FNMA POOL BP8593 FMV 1,140,385 1,140,385
    FNMA POOL BQ1327 FMV 1,786,750 1,786,750
    FNMA POOL BR7225 FMV 3,379,818 3,379,818
    FNMA POOL BT0764 FMV 6,832,719 6,832,719
    FNMA POOL BT1314 FMV 2,303,300 2,303,300
    FNMA POOL BT3243 FMV 5,008,729 5,008,729
    FNMA POOL CA4435 FMV 483,311 483,311
    FNMA POOL CA6871 FMV 2,467,864 2,467,864
    FNMA POOL CA8021 FMV 2,909,011 2,909,011
    FNMA POOL CB0101 FMV 99,283 99,283
    FNMA POOL CB0114 FMV 97,561 97,561
    FNMA POOL CB0470 FMV 195,089 195,089
    FNMA POOL CB0502 FMV 7,404,031 7,404,031
    FNMA POOL CB1784 FMV 4,794,637 4,794,637
    FNMA POOL CB2093 FMV 1,380,996 1,380,996
    FNMA POOL FM1219 FMV 633,207 633,207
    FNMA POOL FM1756 FMV 920,334 920,334
    FNMA POOL FM3123 FMV 140,115 140,115
    FNMA POOL FM4532 FMV 928,013 928,013
    FNMA POOL FM4795 FMV 4,046,837 4,046,837
    FNMA POOL FM4959 FMV 2,988,994 2,988,994
    FNMA POOL FM5013 FMV 478,771 478,771
    FNMA POOL FM5229 FMV 2,381,188 2,381,188
    FNMA POOL FM5265 FMV 2,071,870 2,071,870
    FNMA POOL FM5754 FMV 71,497 71,497
    FNMA POOL FM6015 FMV 70,820 70,820
    FNMA POOL FM6134 FMV 137,645 137,645
    FNMA POOL FM7154 FMV 6,252,007 6,252,007
    FNMA POOL FM7321 FMV 451,507 451,507
    FNMA POOL FM7784 FMV 635,289 635,289
    FNMA POOL FM7948 FMV 4,429,565 4,429,565
    FNMA POOL FM8121 FMV 3,849,748 3,849,748
    FNMA POOL FM8411 FMV 2,641,566 2,641,566
    FNMA POOL FM8968 FMV 724,645 724,645
    FNMA POOL FM8972 FMV 5,273,353 5,273,353
    FNMA POOL FM9174 FMV 99,680 99,680
    FNMA POOL FM9412 FMV 3,032,033 3,032,033
    FNMA POOL MA1029 FMV 487,122 487,122
    FNMA POOL MA1200 FMV 681,664 681,664
    FNMA POOL MA1417 FMV 359,693 359,693
    FNMA POOL MA2523 FMV 75,792 75,792
    FNMA POOL MA2579 FMV 70,516 70,516
    FNMA POOL MA2737 FMV 881,143 881,143
    FNMA POOL MA2773 FMV 62,169 62,169
    FNMA POOL MA2832 FMV 518,074 518,074
    FNMA POOL MA2866 FMV 765,424 765,424
    FNMA POOL MA3937 FMV 618,622 618,622
    FNMA POOL MA4124 FMV 3,728,663 3,728,663
    FNMA POOL MA4181 FMV 1,764,145 1,764,145
    FNMA POOL MA4280 FMV 2,129,457 2,129,457
    FNMA POOL MA4281 FMV 7,811,384 7,811,384
    FOCUS FINANCIAL PARTNERS LLC FMV 1,851,691 1,851,691
    FORD CREDIT AUTO OWNER TRUST/F FMV 1,120,067 1,120,067
    FORD CREDIT FLOORPLAN MASTER O FMV 1,030,515 1,030,515
    FORTRESS CREDIT BSL LIMITED FMV 750,373 750,373
    FOUNDATION FINANCE TRUST FMV 1,465,135 1,465,135
    FRAZIER HEALTHCARE V1 FMV 675,831 675,831
    FREDDIE MAC FMV 593 593
    FREDDIE MAC FMV 1,933 1,933
    FREDDIE MAC FMV 8,521 8,521
    FREDDIE MAC FMV 62 62
    FREDDIE MAC FMV 108,553 108,553
    FREDDIE MAC FMV 13,637 13,637
    FREDDIE MAC FMV 11,682 11,682
    FREDDIE MAC FMV 3,310 3,310
    FREDDIE MAC FMV 3,314 3,314
    FREDDIE MAC FMV 31,772 31,772
    FREDDIE MAC FMV 7 7
    FREDDIE MAC SCRT FMV 695,311 695,311
    FREDDIE MAC SCRT FMV 1,306,576 1,306,576
    FREDDIE MAC SCRT FMV 1,733,264 1,733,264
    FREDDIE MAC SCRT FMV 1,096,124 1,096,124
    FREDDIE MAC SCRT FMV 3,989,254 3,989,254
    FREDDIE MAC SCRT FMV 460,870 460,870
    FREDDIE MAC SCRT FMV 928,136 928,136
    FREDDIE MAC SCRT FMV 418,137 418,137
    FREDDIE MAC SCRT FMV 648,972 648,972
    FREDDIE MAC SCRT FMV 1,288,313 1,288,313
    FREDDIE MAC SCRT FMV 597,623 597,623
    FREDDIE MAC STACR FMV 4,115,742 4,115,742
    FREDDIE MAC STACR FMV 297,448 297,448
    FREDDIE MAC STACR FMV 1,265,642 1,265,642
    FREDDIE MAC STACR FMV 1,048,823 1,048,823
    FREDDIE MAC STACR FMV 267,079 267,079
    FREDDIE MAC STACR FMV 502,141 502,141
    FREDDIE MAC STACR FMV 1,059,359 1,059,359
    FREDDIE MAC STACR FMV 263,044 263,044
    FREDDIEMAC STRIP FMV 1,005 1,005
    FREDDIEMAC STRIP FMV 10,768 10,768
    FREDDIEMAC STRIP FMV 4,839 4,839
    FREMF MORTGAGE TRUST FMV 404,454 404,454
    FRESB MULTIFAMILY MORTGAGE PAS FMV 438,688 438,688
    FRONERI INTERNATIONAL PLC FMV 1,174,926 1,174,926
    FRONERI INTERNATIONAL PLC FMV 2,780,397 2,780,397
    FTSE 100 IDX FUT MAR22 FMV 1,882,783 1,882,783
    FUGUE FINANCE B.V. FMV 4,541,042 4,541,042
    GAINWELL ACQUISITION CORP. FMV 307,627 307,627
    GARDA WORLD SECURITY CORP FMV 410,866 410,866
    GCAT FMV 2,166,829 2,166,829
    GCI FUNDING I LLC FMV 1,338,452 1,338,452
    GENESEE + WYOMING INC NEW FMV 1,844,612 1,844,612
    GENESIS SPECIALIST CARE FIN UK FMV 1,748,842 1,748,842
    GENESIS SPECIALIST CARE FIN UK FMV 1,471,892 1,471,892
    GFL ENVIRONMENTAL INC FMV 804,409 804,409
    GLOBAL GARDEN PRODUCTS C SARL FMV 1,556,258 1,556,258
    GLOBAL GOOD FUND I FMV 1 1
    GLOBAL MEDICAL RESPONSE INC FMV 237,218 237,218
    GLOBAL TIMBER INVESTORS 7 FMV 198,118 198,118
    GM FINANCIAL SECURITIZED TERM FMV 15,116,314 15,116,314
    GMAC COMMERCIAL MORTGAGE SECUR FMV 1,295 1,295
    GMAC MORTGAGE CORPORATION LOAN FMV 234,973 234,973
    GMAC MORTGAGE CORPORATION LOAN FMV 696,378 696,378
    GMAC MORTGAGE CORPORATION LOAN FMV 161,873 161,873
    GMRF MORTGAGE ACQUISITION CO., FMV 181,854 181,854
    GNMA II POOL 783298 FMV 64,606 64,606
    GNMA II POOL 784106 FMV 19,025 19,025
    GNMA II POOL 784849 FMV 2,163,482 2,163,482
    GNMA II POOL 784905 FMV 829,715 829,715
    GNMA II POOL 785283 FMV 527,247 527,247
    GNMA II POOL 892950 FMV 272,415 272,415
    GNMA II POOL 892951 FMV 245,753 245,753
    GNMA II POOL BC1919 FMV 939,975 939,975
    GNMA II POOL BS8546 FMV 277,113 277,113
    GNMA II POOL BT0810 FMV 800,013 800,013
    GNMA II POOL BT1888 FMV 368,284 368,284
    GNMA II POOL MA2961 FMV 2,073,208 2,073,208
    GNMA II POOL MA3035 FMV 1,094,411 1,094,411
    GNMA II POOL MA3104 FMV 4,356,520 4,356,520
    GNMA II POOL MA3376 FMV 1,781,225 1,781,225
    GNMA II POOL MA3735 FMV 1,080,234 1,080,234
    GNMA II POOL MA3873 FMV 1,679,274 1,679,274
    GNMA II POOL MA4720 FMV 944,473 944,473
    GNMA II POOL MA5192 FMV 826,470 826,470
    GNMA II POOL MA5193 FMV 41,450 41,450
    GNMA II POOL MA5529 FMV 98,714 98,714
    GNMA POOL 416602 FMV 66,921 66,921
    GNMA POOL 458371 FMV 1,194 1,194
    GNMA POOL 464846 FMV 1,083 1,083
    GNMA POOL 466087 FMV 3,016 3,016
    GNMA POOL 471947 FMV 14,689 14,689
    GNMA POOL 484261 FMV 3,617 3,617
    GNMA POOL 490736 FMV 4,793 4,793
    GNMA POOL 780873 FMV 1,776 1,776
    GNMA POOL AB2583 FMV 495,909 495,909
    GO DADDY OPER CO LLC FMV 68,083 68,083
    GOLD BARS CMDTY FMV 821,300,580 821,300,580
    GOLD SPOT WARRANT FMV 1,046,310,264 1,046,310,264
    GOLDEN NUGGET, LLC FMV 50,762 50,762
    GOLUB CAPITAL PARTNERS CLO LTD FMV 250,128 250,128
    GOVERNMENT NATIONAL MORTGAGE A FMV 168,358 168,358
    GOVERNMENT NATIONAL MORTGAGE A FMV 45,399 45,399
    GOVERNMENT NATIONAL MORTGAGE A FMV 873,501 873,501
    GOVERNMENT NATIONAL MORTGAGE A FMV 2,226,800 2,226,800
    GOVERNMENT NATIONAL MORTGAGE A FMV 295,742 295,742
    GOVERNMENT NATIONAL MORTGAGE A FMV 284,057 284,057
    GOVERNMENT NATIONAL MORTGAGE A FMV 2,909,699 2,909,699
    GOVERNMENT NATIONAL MORTGAGE A FMV 1,262,428 1,262,428
    GOVERNMENT NATIONAL MORTGAGE A FMV 35,032 35,032
    GOVERNMENT NATIONAL MORTGAGE A FMV 25,813 25,813
    GOVERNMENT NATIONAL MORTGAGE A FMV 14 14
    GOVERNMENT NATIONAL MORTGAGE A FMV 58,844 58,844
    GOVERNMENT NATIONAL MORTGAGE A FMV 6,959,990 6,959,990
    GOVERNMENT NATIONAL MORTGAGE A FMV 4,599 4,599
    GOVERNMENT NATIONAL MORTGAGE A FMV 46,816 46,816
    GOVERNMENT NATIONAL MORTGAGE A FMV 240,513 240,513
    GOVERNMENT NATIONAL MORTGAGE A FMV 86,657 86,657
    GOVERNMENT NATIONAL MORTGAGE A FMV 19,739 19,739
    GOVERNMENT NATIONAL MORTGAGE A FMV 1,511 1,511
    GOVERNMENT NATIONAL MORTGAGE A FMV 12,255 12,255
    GOVERNMENT NATIONAL MORTGAGE A FMV 44,046 44,046
    GOVERNMENT NATIONAL MORTGAGE A FMV 198,170 198,170
    GOVERNMENT NATIONAL MORTGAGE A FMV 26,720 26,720
    GOVERNMENT NATIONAL MORTGAGE A FMV 9,956,903 9,956,903
    GOVERNMENT NATIONAL MORTGAGE A FMV 4,319,764 4,319,764
    GOVERNMENT NATIONAL MORTGAGE A FMV 3,837,726 3,837,726
    GOVERNMENT NATIONAL MORTGAGE A FMV 1,355,694 1,355,694
    GOVERNMENT NATIONAL MORTGAGE A FMV 528,638 528,638
    GOVERNMENT NATIONAL MORTGAGE A FMV 1,025,183 1,025,183
    GOVERNMENT NATIONAL MORTGAGE A FMV 6,401,211 6,401,211
    GOVERNMENT NATIONAL MORTGAGE A FMV 983,002 983,002
    GOVERNMENT NATIONAL MORTGAGE A FMV 4,021,296 4,021,296
    GOVERNMENT NATIONAL MORTGAGE A FMV 2,135,574 2,135,574
    GOVERNMENT NATIONAL MORTGAGE A FMV 491,706 491,706
    GREENBRIAR CO INVESTMENT UF A FMV 46,255,227 46,255,227
    GREENBRIAR EQUITY FUND III, LP FMV 64,110,745 64,110,745
    GREENBRIAR EQUITY FUND IV A FMV 390,720,442 390,720,442
    GREENBRIAR EQUITY FUND V LP FMV 258,493,146 258,493,146
    GREENBRIAR III A FMV 88,827,295 88,827,295
    GREENPOINT MORTGAGE FUNDING TR FMV 1 1
    GREENPOINT MORTGAGE FUNDING TR FMV 924,964 924,964
    GREENPOINT MORTGAGE FUNDING TR FMV 104,159 104,159
    GREENPOINT MORTGAGE FUNDING TR FMV 114,219 114,219
    GREENPOINT MORTGAGE FUNDING TR FMV 89,017 89,017
    GREENPOINT MORTGAGE FUNDING TR FMV 108,561 108,561
    GREENPOINT MORTGAGE FUNDING TR FMV 80,994 80,994
    GREYWOLF CLO LTD FMV 500,254 500,254
    GREYWOLF CLO LTD FMV 620,363 620,363
    GRIPPEN PARK CLO LTD FMV 246,950 246,950
    GRIPPEN PARK CLO LTD FMV 999,949 999,949
    GRMT MORTGAGE LOAN TRUST FMV 21,643 21,643
    GS MORTGAGE BACKED SECURITIES FMV 499,506 499,506
    GS MORTGAGE BACKED SECURITIES FMV 421,731 421,731
    GS MORTGAGE BACKED SECURITIES FMV 585,268 585,268
    GS MORTGAGE SECURITIES CORP. FMV 12,903 12,903
    GS MORTGAGE SECURITIES TRUST FMV 2,282,312 2,282,312
    GS MORTGAGE SECURITIES TRUST FMV 842,843 842,843
    GS MORTGAGE SECURITIES TRUST FMV 824,210 824,210
    GS MORTGAGE SECURITIES TRUST FMV 13,136 13,136
    GS MORTGAGE SECURITIES TRUST FMV 710,183 710,183
    GSAA HOME EQUITY TRUST FMV 3,403,978 3,403,978
    GSAA HOME EQUITY TRUST FMV 3,244,418 3,244,418
    GSAA HOME EQUITY TRUST FMV 3,281,641 3,281,641
    GSAA HOME EQUITY TRUST FMV 306,490 306,490
    GSAMP TRUST FMV 320,047 320,047
    GSAMP TRUST FMV 4,791,036 4,791,036
    GSMPS MORTGAGE LOAN TRUST FMV 314,495 314,495
    GSMPS MORTGAGE LOAN TRUST FMV 292,152 292,152
    GSR MORTGAGE LOAN TRUST FMV 1,704 1,704
    GSR MORTGAGE LOAN TRUST FMV 413,309 413,309
    GSR MORTGAGE LOAN TRUST FMV 299,276 299,276
    GSR MORTGAGE LOAN TRUST FMV 45,254 45,254
    GSR MORTGAGE LOAN TRUST FMV 4,026,727 4,026,727
    GSR MORTGAGE LOAN TRUST FMV 698,743 698,743
    GSR MORTGAGE LOAN TRUST FMV 21,825 21,825
    GSR MORTGAGE LOAN TRUST FMV 7,917 7,917
    GTI 8 INSTITUTIONAL INVESTORS FMV 92,693,261 92,693,261
    GTT COMMUNICATIONS INC FMV 1 1
    GVC HOLDINGS GIBRALTAR LIMITED FMV 218,134 218,134
    HALCYON LOAN ADVISORS FUNDING FMV 20,167 20,167
    HALSEYPOINT CLO 3, LTD. FMV 461,747 461,747
    HALSEYPOINT CLO I, LTD. FMV 249,996 249,996
    HALSEYPOINT CLO I, LTD. FMV 272,193 272,193
    HARBOR FREIGHT TOOLS USA INC FMV 839,215 839,215
    HARBORVIEW MORTGAGE LOAN TRUST FMV 210,262 210,262
    HARBORVIEW MORTGAGE LOAN TRUST FMV 37,538 37,538
    HARBORVIEW MORTGAGE LOAN TRUST FMV 6,169 6,169
    HARBORVIEW MORTGAGE LOAN TRUST FMV 1,930,327 1,930,327
    HARBORVIEW MORTGAGE LOAN TRUST FMV 38,185 38,185
    HARBORVIEW MORTGAGE LOAN TRUST FMV 39,225 39,225
    HARBORVIEW MORTGAGE LOAN TRUST FMV 79,184 79,184
    HARBORVIEW MORTGAGE LOAN TRUST FMV 933,674 933,674
    HARBORVIEW MORTGAGE LOAN TRUST FMV 77,179 77,179
    HARBORVIEW MORTGAGE LOAN TRUST FMV 176,736 176,736
    HARBORVIEW MORTGAGE LOAN TRUST FMV 14,322 14,322
    HARBORVIEW MORTGAGE LOAN TRUST FMV 404,265 404,265
    HARBORVIEW MORTGAGE LOAN TRUST FMV 97,113 97,113
    HARBORVIEW MORTGAGE LOAN TRUST FMV 953,980 953,980
    HARBORVIEW MORTGAGE LOAN TRUST FMV 642,431 642,431
    HARBORVIEW MORTGAGE LOAN TRUST FMV 741,893 741,893
    HELIOS ISSUER, LLC FMV 410,344 410,344
    HELIOS SOFTWARE HOLDINGS INC FMV 1,402,922 1,402,922
    HERTZ VEHICLE FINANCING LLC FMV 16,849,973 16,849,973
    HIGHBRIDGE LOAN MANAGEMENT LTD FMV 889,463 889,463
    HILDENE COMMUNITY FUNDING CLO FMV 1,568,150 1,568,150
    HILDING ANDERS INTERNATIONAL A FMV 2,685,755 2,685,755
    HILTON WORLDWIDE FINANCE LLC FMV 1,097,966 1,097,966
    HNVR HOLDCO LIMITED FMV 3,382,827 3,382,827
    HOME EQUITY ASSET TRUST FMV 8,818 8,818
    HOME EQUITY ASSET TRUST FMV 4,986,245 4,986,245
    HOME EQUITY ASSET TRUST FMV 1,965,919 1,965,919
    HOMEBANC MORTGAGE TRUST FMV 26,496 26,496
    HONY CAPITAL FUND III FMV 3,307,803 3,307,803
    HOTELBEDS GROUP FMV 3,252,191 3,252,191
    HRA PHARMA FMV 849,437 849,437
    HSI ASSET SECURITIZATION CORPO FMV 46,951 46,951
    ICON LUXEMBOURG SARL FMV 1,001,409 1,001,409
    ICON LUXEMBOURG SARL FMV 249,502 249,502
    IHEARTCOMMUNICATIONS INC FMV 440,302 440,302
    II VI INCORPORATED FMV 478,800 478,800
    IMM EUR FUT OPT JUN22P 99.5 FMV 108,800 108,800
    IMM EUR FUT OPT MAR22C 99.875 FMV 1,863 1,863
    IMM EUR FUT OPT MAR22P 99.625 FMV 64,600 64,600
    IMPAC CMB TRUST FMV 16,810 16,810
    IMPAC CMB TRUST FMV 21,834 21,834
    IMPAC CMB TRUST FMV 22,351 22,351
    IMPAC CMB TRUST FMV 27,285 27,285
    IMPAC SECURED ASSETS CORP. FMV 92,834 92,834
    INDONESIA GOVERNMENT FMV 3,310,326 3,310,326
    INDONESIA GOVERNMENT FMV 2,423,058 2,423,058
    INDONESIA GOVERNMENT FMV 3,878,996 3,878,996
    INDONESIA GOVERNMENT FMV 826,684 826,684
    INDONESIA GOVERNMENT FMV 1,930,002 1,930,002
    INDONESIA GOVERNMENT FMV 12,054,470 12,054,470
    INDONESIA GOVERNMENT FMV 1,140,174 1,140,174
    INDONESIA GOVERNMENT FMV 1,898,607 1,898,607
    INDYMAC IMSC MORTGAGE LOAN TRU FMV 3,594,908 3,594,908
    INDYMAC INDA MORTGAGE LOAN TRU FMV 75,290 75,290
    INDYMAC INDA MORTGAGE LOAN TRU FMV 317,493 317,493
    INDYMAC INDX MORTGAGE LOAN TRU FMV 256,573 256,573
    INDYMAC INDX MORTGAGE LOAN TRU FMV 193,501 193,501
    INDYMAC INDX MORTGAGE LOAN TRU FMV 740,485 740,485
    INDYMAC INDX MORTGAGE LOAN TRU FMV 32,927 32,927
    INDYMAC INDX MORTGAGE LOAN TRU FMV 66,927 66,927
    INDYMAC INDX MORTGAGE LOAN TRU FMV 1 1
    INDYMAC INDX MORTGAGE LOAN TRU FMV 220,870 220,870
    INDYMAC INDX MORTGAGE LOAN TRU FMV 1,119,566 1,119,566
    INDYMAC INDX MORTGAGE LOAN TRU FMV 258,425 258,425
    INEOS 226 LIMITED FMV 1,127,488 1,127,488
    INEOS STYROLUTION US HOLDG LLC FMV 376,762 376,762
    INFINITAS LERNG HLDNG BV FMV 1,481,139 1,481,139
    INTERNATIONAL PARK HOLDINGS B. FMV 2,580,969 2,580,969
    ION TRADING TECHNOLOGIES SARL FMV 3,406,656 3,406,656
    IRIS BIDCO GMBH FMV 3,133,804 3,133,804
    IRIS BIDCO LIMITED FMV 2,287,599 2,287,599
    IRS HUF FMV 1,331,720 1,331,720
    IRS MXN FMV 19,206 19,206
    IVC ACQUISITION LTD FMV 1,349,561 1,349,561
    IVC ACQUISITION LTD FMV 2,002,889 2,002,889
    JAPAN (20 YEAR ISSUE) FMV 623,308 623,308
    JAPAN TREASURY DISC BILL FMV 521,039,708 521,039,708
    JAPAN TREASURY DISC BILL FMV 447,259,739 447,259,739
    JP MORGAN CHASE COMMERCIAL MOR FMV 2,113,590 2,113,590
    JP MORGAN CHASE COMMERCIAL MOR FMV 19,620 19,620
    JP MORGAN CHASE COMMERCIAL MOR FMV 4,875,993 4,875,993
    JP MORGAN CHASE COMMERCIAL MOR FMV 1,795,154 1,795,154
    JP MORGAN CHASE COMMERCIAL MOR FMV 238,400 238,400
    JP MORGAN CHASE COMMERCIAL MOR FMV 4,228,096 4,228,096
    JP MORGAN CHASE COMMERCIAL MOR FMV 398,146 398,146
    JP MORGAN CHASE COMMERCIAL MOR FMV 551,339 551,339
    JP MORGAN CHASE COMMERCIAL MOR FMV 930,454 930,454
    JP MORGAN CHASE COMMERCIAL MOR FMV 977,287 977,287
    JP MORGAN CHASE COMMERCIAL MOR FMV 476,196 476,196
    JP MORGAN CHASE COMMERCIAL MOR FMV 1,098,904 1,098,904
    JP MORGAN MORTGAGE ACQUISITION FMV 4,209,570 4,209,570
    JP MORGAN MORTGAGE TRUST FMV 40,535 40,535
    JP MORGAN MORTGAGE TRUST FMV 525,538 525,538
    JP MORGAN MORTGAGE TRUST FMV 18,177 18,177
    JP MORGAN MORTGAGE TRUST FMV 365,954 365,954
    JP MORGAN MORTGAGE TRUST FMV 1,028,508 1,028,508
    JP MORGAN MORTGAGE TRUST FMV 47,461 47,461
    JP MORGAN MORTGAGE TRUST FMV 656 656
    JP MORGAN MORTGAGE TRUST FMV 330,238 330,238
    JP MORGAN MORTGAGE TRUST FMV 46,960 46,960
    JP MORGAN MORTGAGE TRUST FMV 427,214 427,214
    JP MORGAN MORTGAGE TRUST FMV 152,725 152,725
    JP MORGAN MORTGAGE TRUST FMV 476,680 476,680
    JP MORGAN MORTGAGE TRUST FMV 464,391 464,391
    JP MORGAN MORTGAGE TRUST FMV 1,001,041 1,001,041
    JP MORGAN MORTGAGE TRUST FMV 3,753,285 3,753,285
    JPMBB COMMERCIAL MORTGAGE SECU FMV 909,543 909,543
    JPMBB COMMERCIAL MORTGAGE SECU FMV 1,341,856 1,341,856
    JPMBB COMMERCIAL MORTGAGE SECU FMV 168,059 168,059
    JPMBB COMMERCIAL MORTGAGE SECU FMV 1,085,504 1,085,504
    JPMBB COMMERCIAL MORTGAGE SECU FMV 408,360 408,360
    JPMBB COMMERCIAL MORTGAGE SECU FMV 513,727 513,727
    JPMBB COMMERCIAL MORTGAGE SECU FMV 458,527 458,527
    JPN 10Y BOND(OSE) MAR22 FMV 348,687 348,687
    KCAP SENIOR FUNDING I LLC FMV 2,041,348 2,041,348
    KKR FINANCIAL CLO LTD FMV 491,327 491,327
    KKR INDUSTRIAL PORTFOLIO TRUST FMV 591,469 591,469
    KNDR TRUST 2021 KIND FMV 744,361 744,361
    KOREA TREASURY BOND FMV 3,576,342 3,576,342
    KOUTI B V FMV 2,504,191 2,504,191
    KREF 2021 FL2 LTD FMV 1,068,716 1,068,716
    KURAMO AFRICA COINV III LP FMV 12,078,641 12,078,641
    KURAMO AFRICA FUND II L.P. FMV 18,212,419 18,212,419
    KURAMO AFRICA FUND III LP FMV 3,026,265 3,026,265
    KURAMO AFRICA OPPORTUNITY OFFS FMV 14,624,759 14,624,759
    LAVENDER TRUST FMV 2,493,384 2,493,384
    LCM LTD PARTNERSHIP FMV 116,161 116,161
    LEGACY MORTGAGE ASSET TRUST FMV 1,853,866 1,853,866
    LEGACY MORTGAGE ASSET TRUST FMV 1,459,784 1,459,784
    LEHMAN BANKRUPTCY BLACKROCK FMV 1 1
    LEHMAN MORTGAGE TRUST FMV 26,422 26,422
    LEHMAN MORTGAGE TRUST FMV 185,542 185,542
    LEHMAN MORTGAGE TRUST FMV 702,855 702,855
    LEHMAN XS TRUST FMV 1 1
    LEHMAN XS TRUST FMV 4,363,559 4,363,559
    LEHMAN XS TRUST FMV 591,911 591,911
    LERNEN BIDCO LIMITED FMV 6,049,313 6,049,313
    LERNEN BIDCO LIMITED FMV 2,261,754 2,261,754
    LERNEN BIDCO LIMITED FMV 908,623 908,623
    LETRA TESOURO NACIONAL FMV 129,910,233 129,910,233
    LETRA TESOURO NACIONAL FMV 2,762,469 2,762,469
    LETRA TESOURO NACIONAL FMV 116,126,890 116,126,890
    LEVEL 3 FINANCING INC FMV 1,014,366 1,014,366
    LIFESCAN GLOBAL CORP FMV 2,687,911 2,687,911
    LINEAGE LOGISTICS FMV 44,735,293 44,735,293
    LINEAGE LOGISTICS FMV 246,080,000 246,080,000
    LINEAGE LOGISTICS CLASS A 20 FMV 11,576,994 11,576,994
    LONG BEACH MORTGAGE LOAN TRUST FMV 1,283,522 1,283,522
    LONG GILT FUTURE MAR22 FMV 1,570,806 1,570,806
    LORCA FINCO PLC FMV 3,013,579 3,013,579
    LSF10 XL BIDCO SCA FMV 3,638,275 3,638,275
    LSF11 FOLIO BIDCO GMBH FMV 1,421,144 1,421,144
    LUMINENT MORTGAGE TRUST FMV 64,326 64,326
    LUMINENT MORTGAGE TRUST FMV 261,321 261,321
    LUMINENT MORTGAGE TRUST FMV 1,825,142 1,825,142
    LUMINENT MORTGAGE TRUST FMV 572 572
    LUMINENT MORTGAGE TRUST FMV 2,579,923 2,579,923
    LUMINENT MORTGAGE TRUST FMV 123,294 123,294
    MA FINANCECO., LLC FMV 1,320,072 1,320,072
    MADISON PARK FUNDING LTD FMV 248,008 248,008
    MAGNETITE CLO LTD FMV 500,662 500,662
    MAGNETITE CLO LTD FMV 1,049,447 1,049,447
    MALAYSIA GOVERNMENT FMV 1,050,087 1,050,087
    MALAYSIA GOVERNMENT FMV 2,136,373 2,136,373
    MALAYSIA GOVERNMENT FMV 1,803,180 1,803,180
    MALAYSIA GOVERNMENT FMV 2,337,483 2,337,483
    MALAYSIA GOVERNMENT FMV 573,090 573,090
    MALAYSIA GOVERNMENT FMV 1,596,944 1,596,944
    MALAYSIA GOVERNMENT FMV 1,196,288 1,196,288
    MALAYSIA GOVERNMENT FMV 2,382,063 2,382,063
    MARATHON CLO LTD FMV 479,755 479,755
    MARKERMEER FINANCE BV FMV 1,126,715 1,126,715
    MASTR ADJUSTABLE RATE MORTGAGE FMV 387,980 387,980
    MASTR ADJUSTABLE RATE MORTGAGE FMV 1,631,266 1,631,266
    MASTR ADJUSTABLE RATE MORTGAGE FMV 3,368 3,368
    MASTR ADJUSTABLE RATE MORTGAGE FMV 2,510,202 2,510,202
    MASTR ADJUSTABLE RATE MORTGAGE FMV 1,720,555 1,720,555
    MASTR ADJUSTABLE RATE MORTGAGE FMV 6,568 6,568
    MASTR ADJUSTABLE RATE MORTGAGE FMV 313,728 313,728
    MASTR ALTERNATIVE LOANS TRUST FMV 3,527,707 3,527,707
    MASTR ALTERNATIVE LOANS TRUST FMV 193,476 193,476
    MASTR ASSET BACKED SECURITIES FMV 2,623,956 2,623,956
    MASTR REPERFORMING LOAN TRUST FMV 111,159 111,159
    MATTERHORN TELECOM SA FMV 1,681,287 1,681,287
    MCAFEE LLC FMV 208,754 208,754
    MEDIAN B V FMV 2,800,354 2,800,354
    MELLON RESIDENTIAL FUNDING COR FMV 64,783 64,783
    MELLON RESIDENTIAL FUNDING COR FMV 123,431 123,431
    MERRILL LYNCH MORTGAGE INVESTO FMV 21,590 21,590
    MERRILL LYNCH MORTGAGE INVESTO FMV 1,964,739 1,964,739
    MERRILL LYNCH MORTGAGE INVESTO FMV 128,344 128,344
    MERRILL LYNCH MORTGAGE INVESTO FMV 75,678 75,678
    MERRILL LYNCH MORTGAGE INVESTO FMV 273,486 273,486
    MERRILL LYNCH MORTGAGE INVESTO FMV 444,753 444,753
    MERRILL LYNCH MORTGAGE INVESTO FMV 6,969,558 6,969,558
    MERRILL LYNCH MORTGAGE INVESTO FMV 221,303 221,303
    MERRILL LYNCH MORTGAGE INVESTO FMV 190,336 190,336
    MERRILL LYNCH MORTGAGE INVESTO FMV 9 9
    MERRILL LYNCH MORTGAGE INVESTO FMV 5,523,973 5,523,973
    MERRILL LYNCH MORTGAGE INVESTO FMV 80,168 80,168
    MEX BONOS DESARR FIX RT FMV 1,190,386 1,190,386
    MEX BONOS DESARR FIX RT FMV 13,613,430 13,613,430
    MEX BONOS DESARR FIX RT FMV 859,589 859,589
    MEX BONOS DESARR FIX RT FMV 22,836,702 22,836,702
    MEX BONOS DESARR FIX RT FMV 5,139,767 5,139,767
    MEX BONOS DESARR FIX RT FMV 8,712,862 8,712,862
    MEX BONOS DESARR FIX RT FMV 604,150 604,150
    MEX BONOS DESARR FIX RT FMV 5,599,547 5,599,547
    MEX BONOS DESARR FIX RT FMV 178,407 178,407
    MICHAELS COMPANIES, INC. FMV 272,852 272,852
    MILL CITY SOLAR LOAN LTD. FMV 224,163 224,163
    MISTER CAR WASH HLDNGS INC FMV 1,093,730 1,093,730
    MKS CLO LTD FMV 499,387 499,387
    ML CFC COMMERCIAL MORTGAGE TRU FMV 32,513 32,513
    ML CFC COMMERCIAL MORTGAGE TRU FMV 56,859 56,859
    ML CFC COMMERCIAL MORTGAGE TRU FMV 21,190 21,190
    MLCC MORTGAGE INVESTORS INC FMV 135,637 135,637
    MLCC MORTGAGE INVESTORS INC FMV 132,189 132,189
    MLCC MORTGAGE INVESTORS INC FMV 405,525 405,525
    MLCC MORTGAGE INVESTORS INC FMV 89,009 89,009
    MLCC MORTGAGE INVESTORS INC FMV 5,893 5,893
    MLCC MORTGAGE INVESTORS INC FMV 35,160 35,160
    MMAF EQUIPMENT FINANCE LLC FMV 1,864,084 1,864,084
    MORGAN STANLEY BAML TRUST FMV 859,954 859,954
    MORGAN STANLEY CAPITAL I TRUST FMV 293,748 293,748
    MORGAN STANLEY CAPITAL INC FMV 538,142 538,142
    MORGAN STANLEY CAPITAL INC FMV 741,022 741,022
    MORGAN STANLEY CAPITAL INC FMV 36,564 36,564
    MORGAN STANLEY CAPITAL INC FMV 8,316,148 8,316,148
    MORGAN STANLEY MORTGAGE LOAN T FMV 831,356 831,356
    MORGAN STANLEY MORTGAGE LOAN T FMV 36,152 36,152
    MORGAN STANLEY MORTGAGE LOAN T FMV 167,046 167,046
    MORGAN STANLEY MORTGAGE LOAN T FMV 142,561 142,561
    MORGAN STANLEY REREMIC TRUST FMV 554,567 554,567
    MORGAN STANLEY REREMIC TRUST FMV 4,387,978 4,387,978
    MORTGAGEIT TRUST FMV 28,277 28,277
    MORTGAGEIT TRUST FMV 182,624 182,624
    MORTGAGEIT TRUST FMV 879,679 879,679
    MORTGAGEIT TRUST FMV 7,657 7,657
    MORTGAGEIT TRUST FMV 70,646 70,646
    MORTGAGEIT TRUST FMV 149,182 149,182
    MOSAIC SOLAR LOANS LLC FMV 1,801,839 1,801,839
    MOTEL 6 TRUST FMV 1,069,677 1,069,677
    MOTION FINCO SARL FMV 3,040,423 3,040,423
    MRCD 2019 PRKC MORTGAGE TRUST FMV 1,382,639 1,382,639
    MSCG TRUST FMV 1,804,286 1,804,286
    MSG III SECURITIZATION TRUST FMV 1,968,570 1,968,570
    NATIXIS COMMERCIAL MORTGAGE SE FMV 1,331,373 1,331,373
    NATIXIS COMMERCIAL MORTGAGE SE FMV 1,414,909 1,414,909
    NAVIENT STUDENT LOAN TRUST FMV 936,148 936,148
    NAVIENT STUDENT LOAN TRUST FMV 664,264 664,264
    NAVIERA ARMAS SA FMV 127,292 127,292
    NAVIERA ARMAS SA FMV 70,430 70,430
    NAVIERA ARMAS SA FMV 300,461 300,461
    NEW CENTURY HOME EQUITY LOAN T FMV 402,638 402,638
    NEW CENTURY HOME EQUITY LOAN T FMV 92,163 92,163
    NEW RESIDENTIAL MORTGAGE LOAN FMV 831,966 831,966
    NEW RESIDENTIAL MORTGAGE LOAN FMV 1,343,941 1,343,941
    NEW RESIDENTIAL MORTGAGE LOAN FMV 1,031,984 1,031,984
    NEW RESIDENTIAL MORTGAGE LOAN FMV 6,560,009 6,560,009
    NEW RESIDENTIAL MORTGAGE LOAN FMV 979,519 979,519
    NEW RESIDENTIAL MORTGAGE LOAN FMV 1,019,068 1,019,068
    NEW RESIDENTIAL MORTGAGE LOAN FMV 1,053,241 1,053,241
    NEW RESIDENTIAL MORTGAGE LOAN FMV 433,052 433,052
    NEWARK BSL CLO 2 LTD. FMV 1,130,304 1,130,304
    NEXSTAR BROADCASTING INC FMV 1,818,349 1,818,349
    NEXUS BUYER LLC FMV 275,591 275,591
    NIDDA HEALTHCARE HOLDING AG FMV 4,295,681 4,295,681
    NISSAN AUTO RECEIVABLES OWNER FMV 1,102,314 1,102,314
    NOBIAN FINANCE BV FMV 1,381,684 1,381,684
    NOMURA ASSET ACCEPTANCE CORPOR FMV 270,368 270,368
    NOMURA ASSET ACCEPTANCE CORPOR FMV 367,081 367,081
    NOMURA ASSET ACCEPTANCE CORPOR FMV 617,748 617,748
    NOMURA HOME EQUITY LOAN INC FMV 5,377,101 5,377,101
    NORWEGIAN GOVERNMENT FMV 4,672,823 4,672,823
    NOTA DO TESOURO NACIONAL FMV 37,948,312 37,948,312
    NOTA DO TESOURO NACIONAL FMV 2,879,523 2,879,523
    NOTA DO TESOURO NACIONAL FMV 4,317,477 4,317,477
    NOTA DO TESOURO NACIONAL FMV 5,077,463 5,077,463
    OAK HILL CREDIT PARTNERS FMV 410,027 410,027
    OAK STREET INVESTMENT GRADE NE FMV 709,547 709,547
    OAK STREET INVESTMENT GRADE NE FMV 608,226 608,226
    OAKTREE CLO LTD FMV 829,714 829,714
    OAKWOOD MORTGAGE INVESTORS INC FMV 416,464 416,464
    OASIS SECURITISATION FMV 417,538 417,538
    OCP CLO LTD FMV 794,234 794,234
    OCTAGON INVESTMENT PARTNERS 45 FMV 900,286 900,286
    OCTAGON INVESTMENT PARTNERS XX FMV 650,023 650,023
    ODEON CINEMAS GROUP LIMITED FMV 382,244 382,244
    ODEON CINEMAS GROUP LIMITED FMV 679,034 679,034
    OLYMPUS WATER US HOLDING CORP FMV 1,012,745 1,012,745
    ONSLOW BAY FINANCIAL LLC FMV 453,234 453,234
    ONSLOW BAY FINANCIAL LLC FMV 476,476 476,476
    OPG TRUST FMV 1,753,531 1,753,531
    OPTION ONE MORTGAGE LOAN TRUST FMV 611,015 611,015
    ORIGEN MANUFACTURED HOUSING FMV 554,351 554,351
    OWL ROCK CLO LTD FMV 871,569 871,569
    OWNIT MORTGAGE LOAN ASSET BACK FMV 1,279,343 1,279,343
    OWNIT MORTGAGE LOAN ASSET BACK FMV 1,013,904 1,013,904
    OZLM LTD FMV 240,553 240,553
    PACIFIC BC BIDCO LTD FMV 1,694,712 1,694,712
    PALMER SQUARE CLO LTD FMV 823,720 823,720
    PALMER SQUARE CLO LTD FMV 1,180,150 1,180,150
    PANGAEA ONE FMV 670,531 670,531
    PAREXEL INTERNATIONAL CORP FMV 99,955 99,955
    PARK AVENUE TRUST FMV 1,001,311 1,001,311
    PARK PLACE SECURITIES INC FMV 4,981,674 4,981,674
    PARQUES REUNIDOS SAU FMV 2,985,235 2,985,235
    PEER HOLDING B.V. FMV 1,520,666 1,520,666
    PEOPLES REPUBLIC OF CHINA T BI FMV 109,246,503 109,246,503
    PEOPLES REPUBLIC OF CHINA T BI FMV 31,031,718 31,031,718
    PETSMART INC FMV 269,495 269,495
    PHOENIX GUARANTOR INC FMV 849,013 849,013
    PHOENIX GUARANTOR INC FMV 256,695 256,695
    PHOENIX TRUST FMV 3,502,164 3,502,164
    PICNIC INTL BV ORDINARY SHARES FMV 341,159,921 341,159,921
    PILOT TRAVEL CENTERS LLC FMV 1,519,611 1,519,611
    PIMENTE INVESTISSEMENT SASU FMV 1,417,349 1,417,349
    PIOLIN BIDCO SAU FMV 740,104 740,104
    POINT AU ROCHE PARK CLO, LTD FMV 1,539,492 1,539,492
    POLARIS NEWCO LLC FMV 2,763,920 2,763,920
    POPULAR ABS MORTGAGE PASS THRO FMV 5,001,313 5,001,313
    PRIME MORTGAGE TRUST FMV 53,810 53,810
    PRIME SECURITY SERV BOROWR LLC FMV 1,612,502 1,612,502
    PRKCM TRUST FMV 1,174,590 1,174,590
    PROGRESS RESIDENTIAL TRUST FMV 1 1
    PROGRESS RESIDENTIAL TRUST FMV 1,181,913 1,181,913
    PROGRESS RESIDENTIAL TRUST FMV 711,352 711,352
    PROVINCE OF QUEBEC FMV 3,171,703 3,171,703
    PROVINCE OF QUEBEC FMV 2,408,014 2,408,014
    PROVINCIA DE BUENOS AIRE FMV 1,057,052 1,057,052
    QUIKRETE HOLDINGS INC FMV 388,916 388,916
    RAAC SERIES FMV 14,323,302 14,323,302
    RAAC SERIES FMV 4,311,683 4,311,683
    RAAC SERIES FMV 2,923,579 2,923,579
    RAAC SERIES FMV 337,520 337,520
    RAAC SERIES FMV 186,861 186,861
    RAAC SERIES FMV 322,627 322,627
    RAAC SERIES FMV 1,379,452 1,379,452
    RACKSPACE TECHNOLOGY GLOBAL FMV 570,889 570,889
    RBSGC MORTGAGE PASS THROUGH CE FMV 96,866 96,866
    RBSGC MORTGAGE PASS THROUGH CE FMV 972,904 972,904
    REALPAGE, INC. FMV 926,661 926,661
    RECETTE CLO LLC FMV 419,892 419,892
    REDSTONE HOLDCO 2 LP FMV 457,349 457,349
    REESE PARK CLO, LTD. FMV 1,738,984 1,738,984
    REGIONALCARE HOSPITAL PARTNERS FMV 863,606 863,606
    RENAISSANCE HOME EQUITY LOAN T FMV 95,544 95,544
    RENAISSANCE HOME EQUITY LOAN T FMV 379,581 379,581
    REPUBLIC OF ARGENTINA FMV 1,218,290 1,218,290
    REPUBLIC OF ARGENTINA FMV 264,350 264,350
    REPUBLIC OF ARGENTINA FMV 1,032,825 1,032,825
    REPUBLIC OF ARGENTINA FMV 82,370 82,370
    REPUBLIC OF COLOMBIA FMV 1,280,519 1,280,519
    REPUBLIC OF COLOMBIA FMV 1,940,651 1,940,651
    REPUBLIC OF COLOMBIA FMV 538,638 538,638
    REPUBLIC OF INDONESIA FMV 262,306 262,306
    REPUBLIC OF INDONESIA FMV 538,659 538,659
    REPUBLIC OF INDONESIA FMV 2,211,053 2,211,053
    REPUBLIC OF INDONESIA FMV 1,230,675 1,230,675
    REPUBLIC OF INDONESIA FMV 590,941 590,941
    REPUBLIC OF INDONESIA FMV 483,905 483,905
    REPUBLIC OF INDONESIA FMV 423,725 423,725
    REPUBLIC OF INDONESIA FMV 234,798 234,798
    REPUBLIC OF INDONESIA FMV 919,202 919,202
    REPUBLIC OF KENYA FMV 676,013 676,013
    REPUBLIC OF PANAMA FMV 3,810,961 3,810,961
    REPUBLIC OF PERU FMV 449,628 449,628
    REPUBLIC OF PERU FMV 758,705 758,705
    REPUBLIC OF POLAND FMV 2,262,489 2,262,489
    REPUBLIC OF SOUTH AFRICA FMV 1,671,725 1,671,725
    REPUBLICA ORIENT URUGUAY FMV 2,440,671 2,440,671
    RESIDENTIAL ACCREDIT LOANS, IN FMV 689,237 689,237
    RESIDENTIAL ACCREDIT LOANS, IN FMV 120,624 120,624
    RESIDENTIAL ACCREDIT LOANS, IN FMV 1,016,409 1,016,409
    RESIDENTIAL ACCREDIT LOANS, IN FMV 987,300 987,300
    RESIDENTIAL ACCREDIT LOANS, IN FMV 788,463 788,463
    RESIDENTIAL ACCREDIT LOANS, IN FMV 39,331 39,331
    RESIDENTIAL ACCREDIT LOANS, IN FMV 547,581 547,581
    RESIDENTIAL ACCREDIT LOANS, IN FMV 570,173 570,173
    RESIDENTIAL ACCREDIT LOANS, IN FMV 1,062,717 1,062,717
    RESIDENTIAL ACCREDIT LOANS, IN FMV 3,138,505 3,138,505
    RESIDENTIAL ASSET MORTGAGE PRO FMV 87,554 87,554
    RESIDENTIAL ASSET MORTGAGE PRO FMV 94,495 94,495
    RESIDENTIAL ASSET MORTGAGE PRO FMV 84,566 84,566
    RESIDENTIAL ASSET MORTGAGE PRO FMV 1,070,371 1,070,371
    RESIDENTIAL ASSET SECURITIES C FMV 111,832 111,832
    RESIDENTIAL ASSET SECURITIES C FMV 1,349,889 1,349,889
    RESIDENTIAL ASSET SECURITIES C FMV 1 1
    RESIDENTIAL ASSET SECURITIES C FMV 1 1
    RESIDENTIAL ASSET SECURITIES C FMV 4,470,518 4,470,518
    RESIDENTIAL FUNDING MORTGAGE S FMV 1 1
    RESIDENTIAL FUNDING MORTGAGE S FMV 366,838 366,838
    RESIDENTIAL FUNDING MORTGAGE S FMV 323,719 323,719
    RESIDENTIAL FUNDING MTG SEC I FMV 32,493 32,493
    RESIDENTIAL FUNDING MTG SEC I FMV 617,651 617,651
    RESIDENTIAL FUNDING SECURITIES FMV 158,133 158,133
    REYNOLDS CONSUMER PRODUCTS LLC FMV 1,061,489 1,061,489
    REYNOLDS GROUP HLDGS INC FMV 1 1
    RICHMOND UK BIDCO LIMITED FMV 5,130,281 5,130,281
    S+P500 EMINI FUT MAR22 FMV 8,857,237 8,857,237
    SABEY DATA CENTER ISSUER LLC FMV 510,989 510,989
    SACO I TRUST FMV 23,544 23,544
    SACO I TRUST FMV 108,651 108,651
    SACO I TRUST FMV 274,424 274,424
    SANDY BIDCO B V FMV 1,724,580 1,724,580
    SANTANDER REVOLVING AUTO LOAN FMV 3,132,864 3,132,864
    SARANAC CLO LTD FMV 889,082 889,082
    SASCO NET INTEREST MARGIN TRUS FMV 1,095,672 1,095,672
    SAUDI INTERNATIONAL BOND FMV 307,064 307,064
    SAXON ASSET SECURITIES TRUST FMV 5,046,423 5,046,423
    SAXON ASSET SECURITIES TRUST FMV 7,125,157 7,125,157
    SCIENTIFIC GAMES INTL INC FMV 1,431,720 1,431,720
    SECURITIZED ASSET BACKED RECEI FMV 250,360 250,360
    SECURITIZED ASSET BACKED RECEI FMV 81,358 81,358
    SECURITIZED ASSET BACKED RECEI FMV 182,829 182,829
    SECURITIZED ASSET BACKED RECEI FMV 177,033 177,033
    SEDGWICK CLAIMS MGMT SVCS INC FMV 581,390 581,390
    SEQENS GROUP BIDCO SASU FMV 2,132,591 2,132,591
    SEQUOIA MORTGAGE TRUST FMV 456,936 456,936
    SEQUOIA MORTGAGE TRUST FMV 12,402 12,402
    SEQUOIA MORTGAGE TRUST FMV 568,184 568,184
    SEQUOIA MORTGAGE TRUST FMV 84,339 84,339
    SEQUOIA MORTGAGE TRUST FMV 267,345 267,345
    SEQUOIA MORTGAGE TRUST FMV 11,687 11,687
    SEQUOIA MORTGAGE TRUST FMV 355,664 355,664
    SETANTA AIRCRAFT LEASING DAC FMV 878,900 878,900
    SGB SMIT MANAGEMENT GMBH FMV 1,829,106 1,829,106
    SIGULER GUFF BSS II LP FMV 32,322,339 32,322,339
    SILICA BIDCO FMV 1,990,100 1,990,100
    SILK BIDCO AS FMV 1,741,186 1,741,186
    SILVER ROCK CLO LTD FMV 1,275,923 1,275,923
    SILVER SPOT WARRANT FMV 155,853,862 155,853,862
    SINGAPORE GOVERNMENT FMV 3,834,012 3,834,012
    SINGAPORE GOVERNMENT FMV 5,085,689 5,085,689
    SINGAPORE GOVERNMENT FMV 1,497,702 1,497,702
    SINGAPORE GOVERNMENT FMV 1,213,857 1,213,857
    SINGAPORE GOVERNMENT FMV 1,643,121 1,643,121
    SINGAPORE GOVERNMENT FMV 731,184 731,184
    SINGAPORE GOVERNMENT FMV 3,623,419 3,623,419
    SINGAPORE GOVERNMENT FMV 2,069,220 2,069,220
    SINGAPORE GOVERNMENT FMV 3,575,028 3,575,028
    SINGAPORE GOVERNMENT FMV 1,700,974 1,700,974
    SK SPICE S.A.R.L. FMV 794,710 794,710
    SKYMILES IP LTD. FMV 401,375 401,375
    SLM STUDENT LOAN TRUST FMV 471,262 471,262
    SLM STUDENT LOAN TRUST FMV 1,252,346 1,252,346
    SLM STUDENT LOAN TRUST FMV 1,409,301 1,409,301
    SMALL BUSINESS ADMINISTRATION FMV 1,020,798 1,020,798
    SMALL BUSINESS ADMINISTRATION FMV 1,080,947 1,080,947
    SMALL BUSINESS ADMINISTRATION FMV 735,432 735,432
    SMALL BUSINESS ADMINISTRATION FMV 729,592 729,592
    SMALL BUSINESS ADMINISTRATION FMV 76,862 76,862
    SMALL BUSINESS ADMINISTRATION FMV 27,367 27,367
    SMALL BUSINESS ADMINISTRATION FMV 109,551 109,551
    SMALL BUSINESS ADMINISTRATION FMV 144,943 144,943
    SMALL BUSINESS ADMINISTRATION FMV 313,561 313,561
    SMALL BUSINESS ADMINISTRATION FMV 249,342 249,342
    SMALL BUSINESS ADMINISTRATION FMV 610,575 610,575
    SMALL BUSINESS ADMINISTRATION FMV 524,513 524,513
    SMALL BUSINESS ADMINISTRATION FMV 465,908 465,908
    SMALL BUSINESS ADMINISTRATION FMV 338,042 338,042
    SMALL BUSINESS ADMINISTRATION FMV 406,668 406,668
    SMALL BUSINESS ADMINISTRATION FMV 355,892 355,892
    SMALL BUSINESS ADMINISTRATION FMV 373,307 373,307
    SMALL BUSINESS ADMINISTRATION FMV 500,798 500,798
    SMALL BUSINESS ADMINISTRATION FMV 1,374,082 1,374,082
    SMB PRIVATE EDUCATION LOAN TRU FMV 240,463 240,463
    SMB PRIVATE EDUCATION LOAN TRU FMV 2,824,295 2,824,295
    SMB PRIVATE EDUCATION LOAN TRU FMV 770,324 770,324
    SMB PRIVATE EDUCATION LOAN TRU FMV 1,960,913 1,960,913
    SMB PRIVATE EDUCATION LOAN TRU FMV 1,017,644 1,017,644
    SOHO TRUST 2021 SOHO FMV 2,287,286 2,287,286
    SONIC CAPITAL LLC FMV 958,475 958,475
    SOTERA HEALTH HOLDINGS LLC FMV 268,734 268,734
    SOUNDVIEW HOME EQUITY LOAN TRU FMV 227,494 227,494
    SOUNDVIEW HOME EQUITY LOAN TRU FMV 77,267 77,267
    SOUNDVIEW HOME EQUITY LOAN TRU FMV 815,766 815,766
    SOUTHERN PACIFIC SECURED ASSET FMV 13,513 13,513
    SOUTHOLD PROPERTIES INC FMV 5,750 5,750
    SPRINGER NATRE DEUTSCHLND GMBH FMV 1,070,986 1,070,986
    SREIT TRUST FMV 1,767,643 1,767,643
    STACK INFRASTRUCTURE ISSUER LL FMV 638,277 638,277
    STACK INFRASTRUCTURE ISSUER LL FMV 702,728 702,728
    STARFRUIT FINCO B V FMV 1,484,723 1,484,723
    STARWOOD RETAIL PROPERTY TRUST FMV 25 25
    STATE OF QATAR FMV 2,079,300 2,079,300
    STONEPEAK FMV 1,856,079 1,856,079
    STORE MASTER FUNDING LLC FMV 581,566 581,566
    STORE MASTER FUNDING LLC FMV 508,479 508,479
    STRUCTURED ADJUSTABLE RATE MOR FMV 14,481 14,481
    STRUCTURED ADJUSTABLE RATE MOR FMV 1,097,818 1,097,818
    STRUCTURED ADJUSTABLE RATE MOR FMV 622,758 622,758
    STRUCTURED ADJUSTABLE RATE MOR FMV 310,152 310,152
    STRUCTURED ADJUSTABLE RATE MOR FMV 627,390 627,390
    STRUCTURED ADJUSTABLE RATE MOR FMV 1,620,743 1,620,743
    STRUCTURED ASSET INVESTMENT LO FMV 1,433,605 1,433,605
    STRUCTURED ASSET INVESTMENT LO FMV 842,712 842,712
    STRUCTURED ASSET INVESTMENT LO FMV 2,402,889 2,402,889
    STRUCTURED ASSET MORTGAGE INVE FMV 31,345 31,345
    STRUCTURED ASSET MORTGAGE INVE FMV 4,029,368 4,029,368
    STRUCTURED ASSET MORTGAGE INVE FMV 423,544 423,544
    STRUCTURED ASSET MORTGAGE INVE FMV 628,806 628,806
    STRUCTURED ASSET MORTGAGE INVE FMV 113,218 113,218
    STRUCTURED ASSET MORTGAGE INVE FMV 177,059 177,059
    STRUCTURED ASSET MORTGAGE INVE FMV 46,316 46,316
    STRUCTURED ASSET MORTGAGE INVE FMV 482,053 482,053
    STRUCTURED ASSET MORTGAGE INVE FMV 8,529,986 8,529,986
    STRUCTURED ASSET SECURITIES CO FMV 1,793,118 1,793,118
    STRUCTURED ASSET SECURITIES CO FMV 69,305 69,305
    STRUCTURED ASSET SECURITIES CO FMV 617,109 617,109
    STRUCTURED ASSET SECURITIES CO FMV 77,432 77,432
    STRUCTURED ASSET SECURITIES CO FMV 213,681 213,681
    STRUCTURED ASSET SECURITIES CO FMV 607,038 607,038
    STRUCTURED ASSET SECURITIES CO FMV 2,816,245 2,816,245
    STRUCTURED ASSET SECURITIES CO FMV 7,126,750 7,126,750
    STRUCTURED ASSET SECURITIES CO FMV 1,706,448 1,706,448
    SUMMER BC HOLDCO B SARL FMV 3,723,866 3,723,866
    SUMMIT MATERIALS LLC FMV 237,354 237,354
    SUNSHINE INVESTMENTS BV FMV 665,164 665,164
    SUNSHINE INVESTMENTS BV FMV 839,987 839,987
    SUNTRUST ADJUSTABLE RATE MORTG FMV 1,093,731 1,093,731
    SUNTRUST ALTERNATIVE LOAN TRUS FMV 831,704 831,704
    SW AIRLINES 07 1 TRUST FMV 160,682 160,682
    SYMPHONY CLO LTD FMV 999,474 999,474
    SYMPHONY CLO LTD FMV 333,368 333,368
    TACO BELL FUNDING, LLC FMV 484,375 484,375
    TBA WESTERN/LEHMAN RECEIVABLE FMV 1 1
    TCI FLATIRON CLO LTD FMV 1,620,420 1,620,420
    TCI SYMPHONY CLO FMV 838,249 838,249
    TDC AS FMV 3,386,626 3,386,626
    TEAM BLUE FINCO SARL FMV 101,191 101,191
    TEAMBLUE FINCO SARL FMV 1,770,836 1,770,836
    TECHEM VERWALSELLCHAFT 675 MBH FMV 2,282,778 2,282,778
    TECHNICOLOR SA FMV 579,610 579,610
    TECHNICOLOR SA FMV 853,964 853,964
    TECHNICOLOR SA FMV 731,677 731,677
    TECHNICOLOR SA FMV 2,959,176 2,959,176
    TEKNI PLEX INC FMV 2,399,696 2,399,696
    TERWIN MORTGAGE TRUST FMV 1,071,284 1,071,284
    TERWIN MORTGAGE TRUST FMV 1,495,603 1,495,603
    THG OPERATIONS HOLDINGS LTD FMV 1 1
    THORNBURG MORTGAGE SECURITIES FMV 1,050,098 1,050,098
    THORNBURG MORTGAGE SECURITIES FMV 129,497 129,497
    TICP CLO LTD FMV 749,615 749,615
    TITULOS DE TESORERIA FMV 9,188,065 9,188,065
    TITULOS DE TESORERIA FMV 2,964,108 2,964,108
    TMF GROUP HOLDING B.V. FMV 1,473,747 1,473,747
    TMF GROUP HOLDING B.V. FMV 1,801,161 1,801,161
    TOWD POINT MORTGAGE TRUST FMV 46,588 46,588
    TOWD POINT MORTGAGE TRUST FMV 374,044 374,044
    TOWER SQUARE CAPITAL FMV 236,359 236,359
    TOWER SQUARE CAPITAL III FMV 5,227,806 5,227,806
    TOYOTA AUTO LOAN EXTENDED NOTE FMV 710,212 710,212
    TOYOTA AUTO RECEIVABLES OWNER FMV 591,677 591,677
    TPG REAL ESTATE FINANCE FMV 297,188 297,188
    TRANS UNION LLC FMV 1 1
    TRANSDIGM INC FMV 1,488,766 1,488,766
    TRICON RESIDENTIAL FMV 1,119,470 1,119,470
    TRITON WATER HOLDINGS, INC. FMV 1,376,845 1,376,845
    TUNSTALL GROUP HOLDINGS LTD FMV 2,567,017 2,567,017
    U.S. RENAL CARE, INC. FMV 455,302 455,302
    UBS BARCLAYS COMMERCIAL MORTGA FMV 720,239 720,239
    UBS COMMERCIAL MORTGAGE TRUST FMV 30,134 30,134
    UBS COMMERCIAL MORTGAGE TRUST FMV 712,472 712,472
    UCFC MANUFACTURED HOUSING CONT FMV 40,673 40,673
    UFC HOLDINGS LLC FMV 1,631,501 1,631,501
    UNILABS HOLDING AB FMV 1 1
    UNITED AIRLINES, INC. FMV 973,973 973,973
    UNITED MEXICAN STATES FMV 2,526,024 2,526,024
    UNITED MEXICAN STATES FMV 1,028,025 1,028,025
    UNIVISION COMMUNICATIONS INC FMV 1 1
    UNIVISION COMMUNICATIONS INC FMV 958,402 958,402
    US 10Y NOTE W1 OP JAN22P 130.5 FMV 55,469 55,469
    US 10YR FUT OPTN FEB22C 131 FMV 48,469 48,469
    US 10YR FUT OPTN FEB22C 139 FMV 354 354
    US 10YR NOTE (CBT)MAR22 FMV 1,128,010 1,128,010
    US 10YR ULTRA FUT MAR22 FMV 22,933 22,933
    US 5YR FUTR OPTN FEB22P 116.5 FMV 3,490 3,490
    US 5YR NOTE (CBT) MAR22 FMV 16,597,310 16,597,310
    US FOODS INC FMV 1 1
    US LONG BND W1 OP JAN22P 159 FMV 50,672 50,672
    US ULTRA BOND CBT MAR22 FMV 11,913,559 11,913,559
    USQ RAIL I LLC FMV 507,404 507,404
    VACALIANS GROUP FMV 1,387,894 1,387,894
    VANTAGE DATA CENTERS LLC FMV 1,443,872 1,443,872
    VENTURE CDO LTD FMV 650,211 650,211
    VENTURE CDO LTD FMV 704,913 704,913
    VERISURE HOLDING AB FMV 2,963,089 2,963,089
    VERITAS US INC FMV 983,888 983,888
    VERITAS US INC FMV 4,000,155 4,000,155
    VERSCEND HOLDING CORP FMV 313,182 313,182
    VFH PARENT LLC FMV 519,046 519,046
    VIRGIN MEDIA BRISTOL LLC FMV 1,444,886 1,444,886
    VIRGIN MEDIA BRISTOL LLC FMV 139,847 139,847
    VIRGIN MEDIA INVT HLDGS LTD FMV 4,006,016 4,006,016
    VIRGIN MEDIA INVT HLDGS LTD FMV 4,798,297 4,798,297
    VIRGIN PULSE INC FMV 737,838 737,838
    VNO MORTGAGE TRUST FMV 2,139,146 2,139,146
    VOYA CLO LTD FMV 599,849 599,849
    VOYA CLO LTD FMV 396,454 396,454
    VOYA CLO LTD FMV 971,245 971,245
    VUE INTERNATIONAL BIDCO PLC FMV 4,525,015 4,525,015
    WAMU ASSET BACKED CERTIFICATES FMV 5,353 5,353
    WAMU ASSET BACKED CERTIFICATES FMV 891,932 891,932
    WAMU ASSET BACKED CERTIFICATES FMV 3,364,174 3,364,174
    WAMU MORTGAGE PASS THROUGH CER FMV 124,200 124,200
    WAMU MORTGAGE PASS THROUGH CER FMV 117,082 117,082
    WAMU MORTGAGE PASS THROUGH CER FMV 180,288 180,288
    WAMU MORTGAGE PASS THROUGH CER FMV 1,745,844 1,745,844
    WAMU MORTGAGE PASS THROUGH CER FMV 270,934 270,934
    WAMU MORTGAGE PASS THROUGH CER FMV 155,083 155,083
    WAMU MORTGAGE PASS THROUGH CER FMV 324,675 324,675
    WAMU MORTGAGE PASS THROUGH CER FMV 252,243 252,243
    WAMU MORTGAGE PASS THROUGH CER FMV 4,122,348 4,122,348
    WAMU MORTGAGE PASS THROUGH CER FMV 697,073 697,073
    WAMU MORTGAGE PASS THROUGH CER FMV 9,238 9,238
    WAMU MORTGAGE PASS THROUGH CER FMV 334,216 334,216
    WAMU MORTGAGE PASS THROUGH CER FMV 5,138,570 5,138,570
    WAMU MORTGAGE PASS THROUGH CER FMV 174,265 174,265
    WAMU MORTGAGE PASS THROUGH CER FMV 64,377 64,377
    WAMU MORTGAGE PASS THROUGH CER FMV 143,044 143,044
    WAMU MORTGAGE PASS THROUGH CER FMV 72,460 72,460
    WAMU MORTGAGE PASS THROUGH CER FMV 1,918,782 1,918,782
    WAMU MORTGAGE PASS THROUGH CER FMV 277,955 277,955
    WAMU MORTGAGE PASS THROUGH CER FMV 857,613 857,613
    WAMU MORTGAGE PASS THROUGH CER FMV 85,258 85,258
    WAMU MORTGAGE PASS THROUGH CER FMV 114,712 114,712
    WAMU MORTGAGE PASS THROUGH CER FMV 26,378 26,378
    WAMU MORTGAGE PASS THROUGH CER FMV 676,122 676,122
    WAMU MORTGAGE PASS THROUGH CER FMV 83,190 83,190
    WAMU MORTGAGE PASS THROUGH CER FMV 1 1
    WAMU MORTGAGE PASS THROUGH CER FMV 1,096,178 1,096,178
    WAMU MORTGAGE PASS THROUGH CER FMV 834,644 834,644
    WAMU MORTGAGE PASS THROUGH CER FMV 290,685 290,685
    WAMU MORTGAGE PASS THROUGH CER FMV 66,438 66,438
    WASHINGTON MUTUAL MORTGAGE PAS FMV 802,120 802,120
    WASHINGTON MUTUAL MORTGAGE PAS FMV 1,494,486 1,494,486
    WASHINGTON MUTUAL MORTGAGE PAS FMV 1,651,227 1,651,227
    WASHINGTON MUTUAL MORTGAGE PAS FMV 271,342 271,342
    WASHINGTON MUTUAL MORTGAGE PAS FMV 2,845,486 2,845,486
    WASHINGTON MUTUAL MORTGAGE PAS FMV 505,794 505,794
    WASHINGTON MUTUAL MORTGAGE PAS FMV 1,780,156 1,780,156
    WASHINGTON MUTUAL MORTGAGE PAS FMV 584,274 584,274
    WASHINGTON MUTUAL MSC MORTGAGE FMV 1 1
    WASHINGTON MUTUAL MSC MORTGAGE FMV 107,749 107,749
    WATERFALL COMMERCIAL MORTGAGE FMV 181,089 181,089
    WEBSTER PARK CLO LTD FMV 490,265 490,265
    WELLS FARGO ALTERNATIVE LOAN T FMV 425,079 425,079
    WELLS FARGO COMMERCIAL MORTGAG FMV 2,961,181 2,961,181
    WELLS FARGO COMMERCIAL MORTGAG FMV 719,081 719,081
    WELLS FARGO COMMERCIAL MORTGAG FMV 628,210 628,210
    WELLS FARGO COMMERCIAL MORTGAG FMV 2,324,859 2,324,859
    WELLS FARGO COMMERCIAL MORTGAG FMV 341,631 341,631
    WELLS FARGO COMMERCIAL MORTGAG FMV 2,218,784 2,218,784
    WELLS FARGO MORTGAGE BACKED SE FMV 1 1
    WELLS FARGO MORTGAGE BACKED SE FMV 1 1
    WELLS FARGO MORTGAGE BACKED SE FMV 56,523 56,523
    WENDYS FUNDING LLC FMV 859,741 859,741
    WESTERN DIGITAL CORP FMV 1 1
    WESTWOOD GLOBAL INVESTMENTS SM FMV 84,588,786 84,588,786
    WF RBS COMMERCIAL MORTGAGE TRU FMV 6,415,832 6,415,832
    WF RBS COMMERCIAL MORTGAGE TRU FMV 533,662 533,662
    WF RBS COMMERCIAL MORTGAGE TRU FMV 6,022,833 6,022,833
    WF RBS COMMERCIAL MORTGAGE TRU FMV 3,451,704 3,451,704
    WF RBS COMMERCIAL MORTGAGE TRU FMV 38,857 38,857
    WF RBS COMMERCIAL MORTGAGE TRU FMV 965,041 965,041
    WF RBS COMMERCIAL MORTGAGE TRU FMV 46,259 46,259
    WHATABRANDS LLC FMV 796,360 796,360
    WHEELS SPV LLC FMV 82,349 82,349
    WHITEBOX CLO I LTD FMV 991,607 991,607
    WHITEBOX CLO III LTD FMV 971,031 971,031
    WHITEHORSE LTD FMV 593,313 593,313
    WINTERFELL FINANCING SARL FMV 1,628,889 1,628,889
    WOODWARD CAPITAL MANAGEMENT FMV 3,592,034 3,592,034
    WORLD OMNI AUTO RECEIVABLES TR FMV 10,050,209 10,050,209
    WW INTERNATIONAL, INC. FMV 1,308,116 1,308,116
    Z CAPITAL CREDIT PARTNERS CLO FMV 716,585 716,585
    ZAIS CLO 13, LIMITED FMV 547,319 547,319
    ZAYO GROUP HOLDINGS INC FMV 552,065 552,065
    ZH TRUST FMV 496,144 496,144
    ZIGGO B V FMV 3,272,997 3,272,997
    ZIGGO FINANCE PARTNERSHIP BV FMV 721,481 721,481

    TY 2021 OtherAssetsSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    TAXES RECEIVABLE - CURRENT 44,066,554 0 0


    TY 2021 OtherExpensesSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEES, LICENSES, & PERMITS 64 0   64


    TY 2021 OtherIncomeSchedule2
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    EQUITY PARTNERSHIP INVESTMENTS 0 2,423,202 0
    INFLATION INDEX INCOME 5,626,901 5,626,901 5,626,901
    IRC SECTION 988 NET CURRENCY GAIN 128,434,558 46,667,568 128,434,558
    OTHER INCOME/(LOSS) -1,301,197 -1,301,197 -1,301,197
    SUBPART F INCOME 0 410,733 0
    SWAP INCOME 4,592,688 4,592,688 4,592,688


    TY 2021 OtherIncreasesSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Description Amount
    UNREALIZED GAINS 104,229,471


    TY 2021 OtherLiabilitiesSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Description Beginning of Year - Book Value End of Year - Book Value
    90DAY EUR FUTR DEC22 0 58,131
    90DAY EUR FUTR DEC23 0 152,781
    90DAY EUR FUTR JUN23 0 45,006
    BKR1NKSY0 WMT OTC 152.6515C 205,376 0
    BKR1NL3V1 JAN21WMTUSC 151.1451 142,601 0
    BKR1PJDH4 JAN21 US CALL 50,268 0
    BKR1PN8T5 JAN21 US CALL 31,169 0
    BKR1PNTN5 FDX US 316.5218 27,274 0
    BOUGHT AUD/SOLD USD 0 6,404
    BOUGHT BRL/SOLD USD 2,145,854 0
    BOUGHT CAD/SOLD USD 0 37,172
    BOUGHT COP/SOLD USD 0 1,122,907
    BOUGHT HUF/SOLD USD 2,846 1,288
    BOUGHT JPY/SOLD USD 0 834,055
    BOUGHT KRW/SOLD USD 0 302,665
    BOUGHT NZD/SOLD USD 0 572
    BOUGHT PEN/SOLD USD 1,630 0
    BOUGHT SEK/SOLD EUR 0 1,482,364
    BOUGHT USD/SOLD AUD 100,214 81,218
    BOUGHT USD/SOLD CAD 110,799 0
    BOUGHT USD/SOLD CHF 4,375,008 1,731,998
    BOUGHT USD/SOLD COP 634,728 0
    BOUGHT USD/SOLD EUR 15,667,536 36,635
    BOUGHT USD/SOLD GBP 205,188 799,596
    BOUGHT USD/SOLD HKD 7 0
    BOUGHT USD/SOLD IDR 94,075 196,259
    BOUGHT USD/SOLD JPY 337,215 0
    BOUGHT USD/SOLD KRW 338,379 0
    BOUGHT USD/SOLD MXN 37,028,075 16,655,721
    BOUGHT USD/SOLD NOK 26,085 0
    BOUGHT USD/SOLD NZD 1,633,591 0
    BOUGHT USD/SOLD PEN 0 240,503
    BOUGHT USD/SOLD SAR 3,091 0
    BOUGHT USD/SOLD SEK 69,099 0
    BOUGHT USD/SOLD SGD 561,841 96,630
    BOUGHT USD/SOLD THB 120,968 48,343
    BOUGHT ZAR/SOLD USD 0 64,831
    CURRENT EXCISE TAXES 0 5,401,245
    DEFERRED EXCISE TAXES 221,948,379 223,507,040
    DJIA MINI E-CBOT MAR21 6,619,365 0
    ERH1P100.125 313,765 0
    EURO STOXX 50 MAR22 0 3,236,258
    EURO-BOBL FUTURE MAR22 0 474,953
    EURO-BUND FUTURE MAR21 1,456,810 0
    EURO-BUXL 30Y BND MAR21 2,236,286 0
    EURO-OAT FUTURE MAR21 61,560 0
    FEB22 134 PUT FSO 0 211,787
    GOLD 100 OZ FUTR APR22 0 6,416,435
    IMM EUR FUT OPT JUN22P 99 0 16,000
    IMM EUR FUT OPT JUN23P 97 0 114,844
    IMM EUR FUT OPT MAR21P 99.625 3,006 0
    IMM EUR FUT OPT MAR22C 99.75 0 8,381
    IMM EUR FUT OPT MAR22P 99.375 0 4,400
    IMM EUR FUT OPT MAR22P 99.75 32,200 43,769
    IMM EUR FUT OPT MAR23P 97.75 0 79,313
    INCOME PAYABLES 2,528,690 1,016,191
    IRS HUF 453,241 0
    IRS USD 0 132,638,574
    LONG GILT FUTURE MAR21 675,081 0
    RXH1C186 76,426 0
    S+P500 EMINI FUT MAR21 31,837,798 0
    SILVER FUTURE MAR22 0 2,050,645
    TOPIX INDX FUTR MAR21 54,049,587 0
    TRS CHF 174,961,615 5,891,805
    TRS USD 334,518,264 250,906,983
    TRS USD 147,416,128 0
    US 10YR FUT OPTN FEB21P 33,344 0
    US 10YR FUT OPTN FEB22C 131.5 0 188
    US 10YR FUT OPTN FEB22P 131.5 0 173,063
    US 10YR FUT OPTN MAR21C 77,047 0
    US 10YR FUT OPTN MAR21P 102,000 0
    US 10YR FUT OPTN MAR22C 131 0 61,688
    US 10YR FUT OPTN MAR22C 131.5 0 44,063
    US 10YR FUT OPTN MAR22C 133.5 0 40,688
    US 10YR FUT OPTN MAR22P 129 0 110,906
    US 10YR NOTE (CBT)MAR21 554,171 0
    US 10YR ULTRA FUT MAR21 6,299 0
    US 2YR NOTE (CBT) MAR21 893,341 0
    US 2YR NOTE (CBT) MAR22 0 2,299,399
    US 5YR FUTR OPTN FEB22C 121 0 16,844
    US 5YR FUTR OPTN FEB22C 121.2 0 37,031
    US 5YR FUTR OPTN FEB22C 121.5 0 16,328
    US 5YR FUTR OPTN FEB22P 121.2 0 9,648
    US 5YR FUTR OPTN MAR22C 121.7 0 56,914
    US 5YR FUTR OPTN MAR22P 118 0 11,750
    US 5YR FUTR OPTN MAR22P 118.5 0 26,531
    US 5YR NOTE (CBT) MAR21 2,975,438 0
    US BOND FUTR OPTN FEB21C 174 50,625 0
    US BOND FUTR OPTN FEB21C 180 17,813 0
    US BOND FUTR OPTN FEB21P 170 7,750 0
    US BOND FUTR OPTN FEB22C 161 0 104,281
    US BOND FUTR OPTN FEB22P 161 0 157,156
    US BOND FUTR OPTN MAR21C 179 121,500 0
    US BOND FUTR OPTN MAR21C 180 94,500 0
    US BOND FUTR OPTN MAR22C 169 0 43,594
    US LONG BOND(CBT) MAR22 0 273,273


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT CUSTODIAN SERVICES 9,488,971 9,488,971   0
    INVESTMENT FEES AND OTHER PORTFOLIO EXPENSES 1,406,917 1,406,917   0
    INVESTMENT MANAGEMENT FEES 77,849,835 77,849,835   0
    OTHER INVESTMENT EXPENSES 499,309 499,309   0


    TY 2021 TaxesSchedule
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    DEFERRED EXCISE TAXES 1,558,661 0   0
    FOREIGN INCOME TAXES 26,610,304 26,610,304   0
    SECTION 4940 EXCISE TAXES 120,467,799 0   0
    STATE INCOME TAXES 437 0   0


    TY 2021 TransfersFrmControlledEntities
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Name US /
    Foreign Address    		 EIN Description Amount
    GREENBRIAR EQUITY FUND III AIV SK NV LP 555 THEODORE FREMD AVE STE A-201
    RYE,NY10580     		47-3805287 CASH DISTRIBUTION 0
    GREENBRIAR EQUITY FUND III AIV MM NV LP 555 THEODORE FREMD AVE STE A-201
    RYE,NY10580     		81-1112433 CASH DISTRIBUTION 0
    GREENBRIAR EQUITY FUND III-A LP 555 THEODORE FREMD AVE STE A-201
    RYE,NY10580     		46-1543216 CASH DISTRIBUTION 1,712,625
    GREENBRIAR EQUITY FUND III-A AIV WFCI LP 555 THEODORE FREMD AVE STE A-201
    RYE,NY10580     		98-1219020 CASH DISTRIBUTION 0
    Total     257,521,040

    TY 2021 TransfersToControlledEntities
    Name:
    BILL & MELINDA GATES FOUNDATION TRUST
    EIN:
    91-1663695
    Name US /
    Foreign Address    		 EIN Description Amount
    GREENBRIAR EQUITY FUND III-A LP 555 THEODORE FREMD AVE STE A-201
    RYE,NY10580     		46-1543216 SEC. 721 CAPITAL CONTRIBUTION OF CASH. 1,712,625
    CHROMIUM FUND LP 712 FIFTH AVE SUITE 17F
    NEW YORK,NY10019     		87-1458828 SEC. 721 CAPITAL CONTRIBUTION OF CASH. 100,000,000
    Total     101,712,625