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WisdomTree Trust
International Dividend and Sector Funds
Annual Report
March 31, 2014
WisdomTree DEFA Fund (DWM)
WisdomTree DEFA Equity Income Fund (DTH)
WisdomTree Global Equity Income Fund (DEW)
WisdomTree Europe SmallCap Dividend Fund (DFE)
WisdomTree Japan Hedged Equity Fund (DXJ)
WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
(formerly, WisdomTree Global ex-U.S. Growth Fund)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
WisdomTree Asia Pacific ex-Japan Fund (AXJL)
WisdomTree Australia Dividend Fund (AUSE)
WisdomTree International LargeCap Dividend Fund (DOL)
WisdomTree International Dividend ex-Financials Fund (DOO)
WisdomTree International MidCap Dividend Fund (DIM)
WisdomTree International SmallCap Dividend Fund (DLS)
WisdomTree Emerging Markets Equity Income Fund (DEM)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
WisdomTree Middle East Dividend Fund (GULF)
WisdomTree Europe Hedged Equity Fund (HEDJ)
WisdomTree Commodity Country Equity Fund (CCXE)
WisdomTree Global Natural Resources Fund (GNAT)
WisdomTree Global ex-U.S. Utilities Fund (DBU)
WisdomTree Global ex-U.S. Real Estate Fund (DRW)
WisdomTree China Dividend ex-Financials Fund (CHXF)
WisdomTree United Kingdom Hedged Equity Fund (DXPS)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
WisdomTree Emerging Markets Dividend Growth Fund (DGRE)
WisdomTree Emerging Markets Consumer Growth Fund (EMCG)
WisdomTree Germany Hedged Equity Fund (DXGE)
WisdomTree Korea Hedged Equity Fund (DXKW)
Table of Contents
Management’s Discussion of Funds’ Performance (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Performance Summaries (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Description of Indexes (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Shareholder Expense Examples (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedules of Investments
WisdomTree DEFA Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree DEFA Equity Income Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Global Equity Income Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Europe SmallCap Dividend Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Japan Hedged Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Global ex-U.S. Dividend Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Japan SmallCap Dividend Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Asia Pacific ex-Japan Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Australia Dividend Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree International LargeCap Dividend Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree International Dividend ex-Financials Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree International MidCap Dividend Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree International SmallCap Dividend Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Emerging Markets Equity Income Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Emerging Markets SmallCap Dividend Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Middle East Dividend Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Europe Hedged Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Commodity Country Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Global Natural Resources Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Global ex-U.S. Utilities Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Global ex-U.S. Real Estate Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree China Dividend ex-Financials Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree United Kingdom Hedged Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Japan Hedged SmallCap Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Emerging Markets Dividend Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Emerging Markets Consumer Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Germany Hedged Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WisdomTree Korea Hedged Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Statements of Assets and Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Statements of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Statements of Changes in Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Financial Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Notes to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Report of Independent Registered Public Accounting Firm . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Approval of Investment Advisory and Sub-Advisory Agreements (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Trustees and Officer Information (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Supplemental Information (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
General Information (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
“WisdomTree” is a registered mark of WisdomTree Investments, Inc. and is licensed for use by the WisdomTree Trust.
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39
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52
58
61
65
69
76
79
81
84
86
92
101
105
111
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128
135
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204
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211
Management’s Discussion of Funds’ Performance
(unaudited)
Market Environment Overview
The international equity markets, measured by the MSCI EAFE Index, a broad measure
of equity performance for the developed world outside the U.S. and Canada, returned
17.56% in the 12-month period that ended March 31, 2014 (the “period”). Compared to
peak levels reached in 2007, the MSCI EAFE Index is still down on a cumulative basis by
approximately 3%. The emerging markets, shown through the MSCI Emerging Markets
Index, failed to keep pace with the developed world markets for the period. The MSCI
Emerging Markets Index returned -1.43%, which was over 23 percentage points behind
the S&P 500 Index and almost 19 percentage points behind the MSCI EAFE Index.
Although the MSCI EAFE Index lagged the broad U.S. domestic markets, it was still a
strong performance year for international equity markets. The ability for the European
region to return to positive economic growth and see peripheral debt concerns abate
significantly helped the international equity markets trend higher. Also, Japan helped
contribute with strong positive performance, mainly due to broad monetary and fiscal
stimulus enacted by Prime Minister Shinzo Abe with the goal of stimulating inflation and
invigorating the economy. Broad emerging market equities continued to lag both U.S.
and international developed markets. It seems investors have continued to sell higher risk
emerging market equities to try and catch the performance of the U.S. and developed
international markets. This trend has resulted from a continual slowdown of Chinese
economic growth and fears that higher interest rates in the U.S. could be negative for
emerging market countries.
All of the sectors within the MSCI EAFE Index had positive performance over the period,
but returns in the Telecommunication Services, Consumer Discretionary and Utilities
sectors were the best performers. The Telecommunications and Utilities sectors typically
utilize higher leverage on their balance sheets so they benefited from the lowered
financing costs across the European periphery as fears of a Eurozone debt crisis passed.
The Consumer Discretionary sector tends to be an economically sensitive sector, so it was
able to benefit from the region returning to positive growth and improvements in
consumer sentiment. The Energy and Materials sectors were two of the worst performing
sectors over the period and this can be partly attributed to a slower than expected
demand from emerging market countries. As a result, a similar story unfolded in the
emerging markets, with the Energy and Materials sectors recording negative
performances over the period.
WisdomTree Fund’s Performance Overview
Measured in local currency, the MSCI EAFE Index returned 15.41% over the period. The
foreign currency component of the developed world returns added approximately
2 percentage points to the returns of the MSCI EAFE Index. During the period, both the
euro and pound appreciated against the U.S. dollar, strengthening by over 7% and 9%,
respectively. On the other hand, the Japanese yen depreciated by over 8% against the
U.S. dollar. Weakening currencies relative to the U.S. dollar decrease the value of foreign
investments measured in U.S. dollars and tend to decrease returns experienced by U.S.
investors who invest overseas, while strengthening currencies relative to the U.S. dollar
have the opposite effect.
The following table reflects the WisdomTree International Dividend and Sector Funds’
performance versus capitalization-weighted benchmark indexes:
Ticker
WisdomTree Fund
DWM WisdomTree DEFA Fund
DTH WisdomTree DEFA Equity Income
Fund
DEW WisdomTree Global Equity Income
Fund
DFE WisdomTree Europe SmallCap
Dividend Fund
1-Year
NAV Return
Performance Benchmark
1-Year
Return
Difference
19.43%
21.82%
MSCI EAFE Index
MSCI EAFE Value Index
17.56%
20.25%
1.87%
1.57%
13.13%
MSCI AC World Index
16.55%
-3.42%
53.06%
MSCI Europe Small Cap Index
40.44%
12.62%
WisdomTree International Dividend and Sector Funds 1
Management’s Discussion of Funds’ Performance
(unaudited) (continued)
1-Year
NAV Return
Performance Benchmark
1-Year
Return
Difference
WisdomTree Japan Hedged Equity
Fund
WisdomTree Global ex-U.S.
Dividend Growth Fund
WisdomTree Japan SmallCap
Dividend Fund
WisdomTree Asia Pacific ex-Japan
Fund
WisdomTree Australia Dividend
Fund
WisdomTree International
LargeCap Dividend Fund
WisdomTree International
Dividend ex-Financials Fund
WisdomTree International MidCap
Dividend Fund
WisdomTree International
SmallCap Dividend Fund
WisdomTree Emerging Markets
Equity Income Fund
WisdomTree Emerging Markets
SmallCap Dividend Fund
WisdomTree Middle East Dividend
Fund
WisdomTree Europe Hedged
Equity Fund
WisdomTree Commodity Country
Equity Fund
WisdomTree Global Natural
Resources Fund
WisdomTree Global ex-U.S.
Utilities Fund
WisdomTree Global
ex-U.S. Real Estate Fund
WisdomTree China Dividend
ex-Financials Fund
13.48%
MSCI Japan Local Currency Index
17.78%
-4.30%
2.53%
MSCI AC World ex-USA Growth
Index
MSCI Japan Small Cap Index
10.84%
-8.31%
6.53%
-1.12%
2.42%
-3.40%
-0.59%
MSCI AC Asia Pacific ex-Japan
Index
MSCI Australia Index
1.17%
-1.76%
18.35%
MSCI EAFE Index
17.56%
0.79%
22.58%
MSCI EAFE Value Index
20.25%
2.33%
20.22%
MSCI EAFE Mid Cap Index
19.92%
0.30%
22.26%
MSCI EAFE Small Cap Index
23.26%
-1.00%
-6.22%
MSCI Emerging Markets Index
-1.43%
-4.79%
-6.08%
0.40%
-6.48%
33.42%
10.70%
15.73%
MSCI Emerging Markets Small
Cap Index
MSCI Arabian Markets ex Saudi
Arabia Index
MSCI EMU Local Currency Index
23.95%
-8.22%
-0.22%
MSCI ACWI ex-USA Index
12.31%
-12.53%
-2.72%
S&P Global Natural Resources
Index
S&P Developed Ex-U.S. BMI
Utilities Sector Index
Dow Jones Global ex-U.S. Select
Real Estate Securities Index
MSCI China Index
2.46%
-5.18%
23.55%
-9.21%
0.75%
-3.45%
2.20%
-3.52%
DXPS WisdomTree United Kingdom
Hedged Equity Fund1
DXJS WisdomTree Japan Hedged
SmallCap Equity Fund1
DGRE WisdomTree Emerging Markets
Dividend Growth Fund2
EMCG WisdomTree Emerging Markets
Consumer Growth Fund3
DXGE WisdomTree Germany Hedged
Equity Fund4
DXKW WisdomTree Korea Hedged Equity
Fund5
9.36%
0.73%
8.58%
-2.05%
0.78%
12.85%
-1.48%
5.38%
-5.71%
Ticker
WisdomTree Fund
DXJ
DNL
DFJ
AXJL
AUSE
DOL
DOO
DIM
DLS
DEM
DGS
GULF
HEDJ
CCXE
GNAT
DBU
DRW
CHXF
1
2
3
4
5
5.41%
-0.98%
44.12%
14.34%
-2.70%
-1.32%
-0.33%
FTSE 25 China Index
MSCI United Kingdom Local
Currency Index
MSCI Japan Small Cap Local
Currency Index
MSCI Emerging Markets Index
-0.63%
MSCI Emerging Markets Index
0.14%
-0.77%
7.88%
MSCI Germany Local Currency
Index
MSCI South Korea Local Currency
Index
8.24%
-0.36%
-1.13%
-4.84%
11.37%
-5.97%
Total returns shown are for the period June 28, 2013 (commencement of operations) to March 31, 2014.
Total returns shown are for the period August 1, 2013 (commencement of operations) to March 31, 2014.
Total returns shown are for the period September 27, 2013 (commencement of operations) to March 31, 2014.
Total returns shown are for the period October 17, 2013 (commencement of operations) to March 31, 2014.
Total returns shown are for the period November 7, 2013 (commencement of operations) to March 31, 2014.
WisdomTree’s international dividend-weighted funds are designed to track indexes based
on the dividend stream generated by the companies included in the index. The dividend
stream is defined as the sum of all dividends paid over the prior 12 months for each
company. There are two primary factors that drive performance differentials versus
market cap-weighted benchmarks. The first is aggregate exposure to one or more sectors
2 WisdomTree International Dividend and Sector Funds
Management’s Discussion of Funds’ Performance
(unaudited) (concluded)
or countries. The second is stock selection within each sector or country. Both of these
are determined as part of WisdomTree’s rules-based index methodology. These
exposures are not subjectively determined. Rather, they are objectively determined at the
Index rebalancing dates based on the dividend stream.
The best performing Fund for the year was the WisdomTree Europe SmallCap Dividend
Fund. Smaller capitalization firms led the European equity markets higher after the
region seemed able to avert a peripheral debt crisis and economic indicators pointed
towards expansion. The WisdomTree Europe SmallCap Dividend Fund returned 53.06%
for the period. The Fund’s benchmark, the MSCI Europe Small Cap Index returned
40.44% for the same period. Performance among large capitalization firms within Europe
were also positive, with the WisdomTree Europe Hedged Equity Fund returning 15.73%,
but they were unable to keep pace with smaller capitalization firms. Many larger firms
tend to be export focused, so the strengthening currencies provided a headwind for
revenue growth. The euro strengthened over 7% during the period, which further
negatively impacted the WisdomTree Europe Hedged Equity Fund since the Fund hedges
the exposure of the euro.
The WisdomTree Japan Hedged Equity Fund delivered a 13.48% return over the year,
most of it coming in the 2013 calendar part of the period. Japan’s economic policy,
aggressive inflation target and accommodative central bank helped equities march
higher. The yen weakened over 8 percent during the time period which helped
contribute to the positive performance of the WisdomTree Japan Hedged Equity Fund.
As a result of yen weakening, the WisdomTree Japan Small Cap Dividend Fund was only
able to return 5.41% for the period since it does not hedge against the currency.
While the overall emerging markets lagged both the broad U.S. and developed
international markets, there was a noticeable difference in performance between the
different sectors and countries. The WisdomTree Emerging Markets Equity Income Fund
returned -6.22%, while the MSCI Emerging Markets Index was down -1.43% for the
period. The WisdomTree Emerging Market Equity Income Fund was overweight more
economic cyclical sectors like Energy and Materials, while underweight more consumer
focused sectors like Consumer Discretionary and Information Technology. While the
consumer focused sectors have had positive performance over the past few years, we do
not feel the fundamentals have improved commensurately. At the same time, although
the Energy and Materials sectors continue to underperform in the emerging markets, we
feel the fundamentals, in general, have seen improvement.
Fund returns are shown at NAV. Please see Performance Summaries on the subsequent
pages for more complete performance information.
Fund performance assumes reinvestment of dividends and capital gain distributions. An
index is a statistical measure of a specified financial market or sector. An index does not
actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and are not
available for direct investment. In comparison, the Funds’ performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. Past performance is no guarantee of future results. For the most recent
month-end performance information visit www.wisdomtree.com.
WisdomTree International Dividend and Sector Funds 3
Performance Summary (unaudited)
WisdomTree DEFA Fund (DWM)
Sector Breakdown† as of 3/31/14
Sector
Financials
Industrials
Telecommunication Services
Consumer Staples
Consumer Discretionary
Energy
Health Care
Utilities
Materials
Information Technology
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
25.3%
11.7%
9.6%
9.4%
9.4%
9.0%
8.2%
7.2%
6.9%
2.6%
0.1%
0.6%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Banco Santander S.A.
Total SA
HSBC Holdings PLC
Commonwealth Bank of
Australia
China Mobile Ltd.
BP PLC
Westpac Banking Corp.
Nestle SA
Royal Dutch Shell PLC Class A
Novartis AG
% of Net Assets
2.0%
1.5%
1.5%
The WisdomTree DEFA Fund (the “Fund”) seeks to track the price and yield
performance, before fees and expenses, of the WisdomTree Dividend Index of Europe,
Far East Asia and Australasia (the “WisdomTree DEFA Index”).
The Fund returned 19.43% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund benefited from its investment in France, which contributed positively
to performance. The Fund’s position in Hong Kong detracted from performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was
0.48%.
Performance as of 3/31/14
1.4%
1.4%
1.4%
1.4%
1.3%
1.3%
1.3%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will
remain invested in any particular company.
Excludes investment of cash collateral for
securities on loan (if any).
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
Fund
Market Price
19.43%
7.68%
16.05%
4.82%
18.96%
7.63%
16.12%
4.84%
WisdomTree
DEFA Index
19.56%
7.74%
16.28%
5.20%
MSCI EAFE Index
17.56%
7.21%
16.02%
4.14%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$18,000
$16,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$14,427 WisdomTree DEFA Fund (DWM)
$13,720 MSCI EAFE Index
$14,427
$13,720
$14,000
$12,000
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
4 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree DEFA Equity Income Fund (DTH)
Sector Breakdown† as of 3/31/14
Sector
Financials
Telecommunication Services
Energy
Utilities
Industrials
Health Care
Materials
Consumer Staples
Consumer Discretionary
Information Technology
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
25.3%
14.3%
11.7%
10.9%
9.2%
7.4%
7.3%
6.0%
5.8%
1.6%
0.0%
0.5%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Banco Santander S.A.
Total SA
BP PLC
China Mobile Ltd.
Novartis AG
Commonwealth Bank of
Australia
HSBC Holdings PLC
Royal Dutch Shell PLC Class B
Westpac Banking Corp.
GlaxoSmithKline PLC
% of Net Assets
2.7%
2.5%
2.3%
2.3%
2.1%
2.0%
2.0%
1.9%
1.9%
1.7%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree DEFA Equity Income Fund (the “Fund”) seeks to track the price and
yield performance, before fees and expenses, of the WisdomTree DEFA Equity Income
Index.
The Fund returned 21.82% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund benefited most from its investment in France, which had positive
performance. The Fund’s position in Singapore was a drag on the Fund’s performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs. NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio
was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
Fund
Market Price
WisdomTree
DEFA Equity
Income Index
MSCI EAFE
Value Index
21.82%
8.11%
16.32%
21.17%
7.95%
16.33%
21.85%
8.17%
16.62%
20.25%
7.16%
16.11%
4.19%
4.12%
4.80%
3.41%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$18,000
$16,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$13,762 WisdomTree DEFA Equity Income Fund (DTH)
$12,991 MSCI EAFE Value Index
$14,000
$13,762
$12,991
$12,000
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 5
Performance Summary (unaudited)
WisdomTree Global Equity Income Fund (DEW)
Sector Breakdown† as of 3/31/14
Sector
Financials
Telecommunication Services
Energy
Utilities
Health Care
Materials
Consumer Staples
Industrials
Consumer Discretionary
Information Technology
Other Assets less Liabilities‡
Total
% of Net Assets
25.1%
14.8%
12.4%
10.3%
8.5%
7.6%
7.5%
6.9%
4.2%
2.2%
0.5%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Banco Santander S.A.
AT&T, Inc.
Verizon Communications, Inc.
Total SA
China Construction Bank Corp.
Class H
China Mobile Ltd.
Pfizer, Inc.
Commonwealth Bank of
Australia
Novartis AG
BP PLC
% of Net Assets
1.6%
1.6%
1.5%
1.4%
1.3%
1.3%
1.3%
1.3%
1.2%
1.2%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree Global Equity Income Fund (the “Fund”) seeks to track the price and yield
performance, before fees and expenses, of the WisdomTree Global Equity Income Index.
The Fund returned 13.13% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund benefited most from its investment in France, which had positive
performance. The Fund’s position in Brazil was a drag on the Fund’s performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
on transactions in Fund shares or that a shareholder would pay on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception3
1
2
3
13.13%
6.75%
17.41%
3.95%
Fund
Market Price
WisdomTree
Europe Equity Income/
Global Equity Income
Spliced Index1
11.64%
6.31%
17.19%
3.78%
13.56%
6.92%
17.62%
4.30%
MSCI
Europe Value/
MSCI AC World
Spliced Index2
16.55%
8.55%
19.63%
4.38%
WisdomTree Europe Equity Income Index through June 19,2009; WisdomTree Global Equity Income Index thereafter.
MSCI Europe Value Index through June 19, 2009; MSCI AC World Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$20,000
$18,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$13,521 WisdomTree Global Equity Income Fund (DEW)
$13,962 MSCI Europe Value/MSCI AC World Spliced Index
$16,000
$13,962
$13,521
$14,000
$12,000
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
6 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Europe SmallCap Dividend Fund (DFE)
Sector Breakdown† as of 3/31/14
Sector
Industrials
Financials
Information Technology
Consumer Discretionary
Materials
Consumer Staples
Health Care
Telecommunication Services
Energy
Utilities
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
25.7%
16.9%
15.6%
15.0%
7.6%
5.4%
4.8%
4.4%
2.6%
1.0%
0.2%
0.8%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Logitech International S.A.
Drillisch AG
Unipol Gruppo Finanziario SpA
Intesa Sanpaolo SpA RSP
Holmen AB Class B
Atea ASA
Leoni AG
Basilea Pharmaceutica AG
Peab AB
Leroey Seafood Group ASA
% of Net Assets
3.6%
3.0%
2.8%
2.2%
1.8%
1.5%
1.4%
1.2%
1.1%
1.1%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree Europe SmallCap Dividend Fund (the “Fund”) seeks to track the price
and yield performance, before fees and expenses, of the WisdomTree Europe SmallCap
Dividend Index.
The Fund returned 53.06% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund’s position in the United Kingdom contributed to performance while its
position in Belgium contributed the least to performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio
was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
Fund
Market Price
WisdomTree
Europe
SmallCap
Dividend Index
MSCI Europe
Small Cap Index
53.06%
16.43%
27.36%
54.14%
16.51%
27.42%
54.25%
16.93%
28.15%
40.44%
13.06%
26.75%
7.94%
7.81%
8.31%
8.52%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$22,000
$20,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$18,130 WisdomTree Europe SmallCap Dividend Fund (DFE)
$18,913 MSCI Europe Small Cap Index
$18,913
$18,130
$18,000
$16,000
$14,000
$12,000
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 7
Performance Summary (unaudited)
WisdomTree Japan Hedged Equity Fund (DXJ)
Sector Breakdown† as of 3/31/14
Sector
Industrials
Consumer Discretionary
Information Technology
Health Care
Materials
Consumer Staples
Financials
Energy
Other Assets less Liabilities‡
Total
% of Net Assets
26.9%
21.9%
15.1%
10.3%
9.0%
9.0%
6.5%
0.0%
1.3%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Mitsubishi UFJ Financial
Group, Inc.
Canon, Inc.
Toyota Motor Corp.
Takeda Pharmaceutical Co.,
Ltd.
Honda Motor Co. Ltd.
Japan Tobacco, Inc.
Nissan Motor Co. Ltd.
Mitsubishi Corp.
Mitsui & Co., Ltd.
Astellas Pharma, Inc.
% of Net Assets
4.6%
4.6%
4.6%
The WisdomTree Japan Hedged Equity Fund (the “Fund”) seeks to track the price and
yield performance, before fees and expenses, of the WisdomTree Japan Hedged Equity
Index. The Fund seeks to provide Japanese equity returns while mitigating or “hedging”
against fluctuations between the value of the Japanese yen and the U.S. dollar.
The Fund returned 13.48% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund benefited most from its investment in the Information Technology
sector, which had positive performance. The Fund’s position in the Health Care sector
was a drag on the Fund’s performance as the sector provided negative returns.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
on transactions in Fund shares or that a shareholder would pay on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.48%.
Performance as of 3/31/14
4.3%
3.8%
3.4%
2.7%
2.7%
2.6%
2.0%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception3
1
2
3
13.48%
11.10%
10.17%
0.85%
Fund
Market Price
WisdomTree
Japan Dividend/
Japan Hedged Equity
Spliced Index1
12.38%
11.05%
9.47%
0.85%
14.37%
11.35%
10.44%
0.91%
MSCI Japan/
MSCI Japan
Local Currency
Spliced Index2
17.78%
13.29%
12.39%
1.28%
WisdomTree Japan Dividend Index through March 31, 2010; WisdomTree Japan Hedged Equity Index thereafter.
MSCI Japan Index through March 31, 2010; MSCI Japan Local Currency Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$14,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$10,685 WisdomTree Japan Hedged Equity Fund (DXJ)
$11,041 MSCI Japan/MSCI Japan Local Currency Spliced Index
$12,000
$11,041
$10,685
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
8 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
(formerly WisdomTree Global ex-U.S. Growth Fund)
Sector Breakdown† as of 3/31/14
Sector
Consumer Staples
Consumer Discretionary
Health Care
Industrials
Materials
Information Technology
Telecommunication Services
Financials
Energy
Investment Companies
Utilities
Other Assets less Liabilities‡
Total
% of Net Assets
18.5%
17.2%
12.4%
11.7%
9.9%
8.3%
7.1%
6.5%
5.7%
1.2%
1.0%
0.5%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Roche Holding AG –
Genusschein
British American Tobacco PLC
Hennes & Mauritz AB Class B
Taiwan Semiconductor
Manufacturing Co., Ltd.
Novo Nordisk A/S Class B
MMC Norilsk Nickel OJSC
Inditex SA
MTN Group Ltd.
Volkswagen AG
Unilever N.V.
The WisdomTree Global ex-U.S. Dividend Growth Fund (the “Fund”) seeks to track the price
and yield performance, before fees and expenses, of the WisdomTree Global ex-U.S.
Dividend Growth Index.
The Fund returned 2.53% at net asset value (“NAV”) for the fiscal year ending March 31,
2014 (for more complete performance information please see the chart below). The Fund
benefited from its position in the Health Care sector. The Fund’s position in Materials
contributed to a drag on performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does not
actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore,
index returns do not reflect deductions for fees or expenses and the index is not available for
direct investment. In comparison, the Fund’s performance is negatively impacted by these
deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in
Fund shares or that a shareholder would pay on Fund distributions. As of the Fund’s current
prospectus dated August 1, 2013, as last revised October 7, 2013, the Fund’s annual expense ratio was 0.58%.
% of Net Assets
Performance as of 3/31/14
6.0%
3.7%
3.3%
3.3%
2.9%
2.8%
2.1%
2.1%
1.9%
1.8%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception3
1
2
3
2.53%
0.69%
11.13%
2.98%
WisdomTree
Japan Equity Income/
Global ex-U.S. Dividend
Growth Spliced Index1
Fund
Market Price
1.85%
0.31%
10.59%
2.99%
3.12%
1.49%
11.97%
3.57%
MSCI Japan Value/
MSCI AC World
ex-USA Growth
Spliced Index2
10.84%
4.27%
15.54%
4.99%
WisdomTree Japan Equity Income Index through June 19, 2009; WisdomTree Global ex-U.S. Dividend Growth Index
thereafter.
MSCI Japan Value Index through June 19, 2009; MSCI AC World ex-USA Growth Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$16,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$12,568 WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
$14,613 MSCI Japan Value/MSCI AC World ex-USA Growth Spliced Index
$14,613
$14,000
$12,568
$12,000
$10,000
$8,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$6,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 9
Performance Summary (unaudited)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
Sector Breakdown† as of 3/31/14
Sector
Industrials
Consumer Discretionary
Financials
Materials
Information Technology
Consumer Staples
Health Care
Energy
Utilities
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
26.3%
21.5%
11.7%
11.2%
11.0%
10.6%
4.5%
1.1%
0.6%
0.5%
1.0%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Minebea Co., Ltd.
Square Enix Holdings Co., Ltd.
Azbil Corp.
UNY Group Holdings Co., Ltd.
UACJ Corp.
Kaken Pharmaceutical Co.,
Ltd.
Denki Kagaku Kogyo K.K.
Wacoal Holdings Corp.
CyberAgent, Inc.
WisdomTree Japan Hedged
Equity Fund
% of Net Assets
0.8%
0.7%
0.6%
0.6%
0.6%
0.6%
0.5%
0.5%
0.5%
0.5%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree Japan SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield
performance, before fees and expenses, of the WisdomTree Japan SmallCap Dividend Index.
The Fund returned 5.41% at net asset value (“NAV”) for the fiscal year ending March 31,
2014 (for more complete performance information please see the chart below). The
Fund benefited most from its investments in the Industrials sector, which had positive
performance. The Fund’s position in the Financials sector was a drag on the Fund’s
performance as the sector provided negative returns.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does not
actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
on transactions in Fund shares or that a shareholder would pay on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
5.41%
7.56%
12.13%
1.60%
Fund
Market Price
WisdomTree
Japan SmallCap
Dividend Index
4.45%
7.50%
11.70%
1.71%
7.52%
8.59%
13.44%
2.40%
MSCI Japan
Small Cap Index
6.53%
7.72%
12.80%
0.96%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$12,000
$11,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$11,316 WisdomTree Japan SmallCap Dividend Fund (DFJ)
$11,316
$10,771
$10,771 MSCI Japan Small Cap Index
$10,000
$9,000
$8,000
$7,000
$6,000
$5,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
10 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Asia Pacific ex-Japan Fund (AXJL)
Sector Breakdown† as of 3/31/14
Sector
Financials
Telecommunication Services
Materials
Energy
Information Technology
Industrials
Consumer Staples
Consumer Discretionary
Utilities
Investment Companies
Health Care
Other Assets less Liabilities‡
Total
% of Net Assets
23.8%
21.6%
10.7%
9.6%
7.7%
7.4%
7.0%
4.5%
4.0%
2.5%
0.7%
0.5%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
The WisdomTree Asia Pacific ex-Japan Fund (the “Fund”) seeks to track the price and yield
performance, before fees and expenses, of the WisdomTree Asia Pacific ex-Japan Index.
The Fund returned -0.98% at net asset value (“NAV”) for the fiscal year ending March 31,
2014 (for more complete performance information please see the chart below). The Fund
benefited from its investment in Australia due to positive returns. The Fund’s investment
in Hong Kong contributed to a drag on Fund performance due to negative returns.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does not
actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore,
index returns do not reflect deductions for fees or expenses and the index is not available for
direct investment. In comparison, the Fund’s performance is negatively impacted by these
deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in
Fund shares or that a shareholder would pay on Fund distributions. As of the Fund’s current
prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.48%.
Description
China Mobile Ltd.
China Construction Bank Corp.
Class H
BHP Billiton Ltd.
Telstra Corp., Ltd.
Taiwan Semiconductor
Manufacturing Co., Ltd.
iPath MSCI India Index ETN
Commonwealth Bank of
Australia
Westpac Banking Corp.
CNOOC Ltd.
Singapore
Telecommunications Ltd.
% of Net Assets
7.2%
Performance as of 3/31/14
Average Annual Total Return
3.7%
3.6%
3.1%
2.6%
2.5%
2.5%
2.3%
2.2%
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception3
1
2
3
-0.98%
2.49%
16.24%
8.12%
-1.34%
2.44%
16.13%
8.15%
MSCI Pacific
ex-Japan/MSCI AC
Asia Pacific ex-Japan
Spliced Index2
-1.07%
2.99%
17.30%
9.13%
2.42%
1.82%
17.52%
7.62%
WisdomTree Pacific ex-Japan Dividend Index through June 17, 2011; WisdomTree Asia Pacific ex-Japan Index thereafter.
MSCI Pacific ex-Japan Index through June 17, 2011; MSCI AC Asia Pacific ex-Japan Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
2.0%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
Fund
Market Price
WisdomTree
Pacific ex-Japan
Dividend/Asia
Pacific ex-Japan
Spliced Index1
$22,000
$20,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$18,376 WisdomTree Asia Pacific ex-Japan Fund (AXJL)
$17,720 MSCI Pacific ex-Japan/MSCI AC Asia Pacific ex-Japan Spliced Index
$18,376
$17,720
$18,000
$16,000
$14,000
$12,000
$10,000
$8,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$6,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 11
Performance Summary (unaudited)
WisdomTree Australia Dividend Fund (AUSE)
Sector Breakdown† as of 3/31/14
Sector
Financials
Consumer Discretionary
Industrials
Materials
Consumer Staples
Energy
Health Care
Telecommunication Services
Utilities
Information Technology
Other Assets less Liabilities‡
Total
% of Net Assets
20.4%
16.0%
15.5%
13.8%
10.2%
7.6%
6.2%
4.1%
2.8%
2.4%
1.0%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Wesfarmers Ltd.
National Australia Bank Ltd.
Westpac Banking Corp.
TABCORP Holdings Ltd.
Australia & New Zealand
Banking Group Ltd.
Commonwealth Bank of
Australia
Mineral Resources Ltd.
Telstra Corp., Ltd.
Tatts Group Ltd.
Adelaide Brighton Ltd.
% of Net Assets
3.7%
3.3%
3.2%
2.9%
The WisdomTree Australia Dividend Fund (the “Fund”) seeks to track the price and yield
performance, before fees and expenses, of the WisdomTree Australia Dividend Index.
The Fund returned -0.59% at net asset value (“NAV”) for the fiscal year ending March 31,
2014 (for more complete performance information please see the chart below). The
Fund benefited from its investment in Materials, which contributed positively to
performance. The Fund’s position in Consumer Staples detracted from performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated
by dividing the value of total assets less total liabilities by the number of shares outstanding. The
NAV return is based on the NAV of the Fund and the market price return is based on the
market price per share of the Fund. The price used to calculate market price returns is the midpoint of the highest bid and lowest offer for Fund shares as of the close of trading on the
exchange where Fund shares are listed. NAV and market price returns assume that dividends
and capital gain distributions have been reinvested in the Fund at NAV and market price,
respectively. As with other ETFS, NAV returns and market price returns may differ because of
factors such as the supply and demand for Fund shares and investors’ assessments of the
underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does not
actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore,
index returns do not reflect deductions for fees or expenses and the index is not available for
direct investment. In comparison, the Fund’s performance is negatively impacted by these
deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in
Fund shares or that a shareholder would pay on Fund distributions. As of the Fund’s current prospectus
dated August 1, 2013, the Fund’s annual expense ratio was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
2.9%
2.8%
2.7%
2.7%
2.4%
2.3%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
One Year
Three Year
Five Year
Since Inception3
1
2
3
-0.59%
4.82%
20.54%
8.87%
Fund
Market Price
WisdomTree
Pacific ex-Japan
Equity Income/
Australia Dividend
Spliced Index1
-1.14%
4.80%
20.47%
8.85%
-0.37%
5.02%
21.03%
9.38%
MSCI Pacific
ex-Japan Value/
MSCI Australia
Spliced Index2
1.17%
5.39%
20.52%
8.20%
WisdomTree Pacific ex-Japan Equity Income Index through June 17, 2011; WisdomTree Australia Dividend Index thereafter.
MSCI Pacific ex-Japan Value Index through June 17, 2011; MSCI Australia Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$22,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$19,384 WisdomTree Australia Dividend Fund (AUSE)
$20,000
$18,489 MSCI Pacific ex-Japan Value/MSCI Australia Spliced Index
$19,384
$18,489
$18,000
$16,000
$14,000
$12,000
$10,000
$8,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$6,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
12 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree International LargeCap Dividend Fund (DOL)
Sector Breakdown† as of 3/31/14
Sector
Financials
Energy
Consumer Staples
Telecommunication Services
Health Care
Industrials
Utilities
Consumer Discretionary
Materials
Information Technology
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
25.6%
11.3%
10.9%
10.8%
9.8%
7.8%
7.8%
7.7%
6.1%
1.6%
0.1%
0.5%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Banco Santander S.A.
Total S.A.
Novartis AG
Nestle S.A.
Commonwealth Bank of
Australia
Westpac Banking Corp.
HSBC Holdings PLC
China Mobile Ltd.
Roche Holding AG –
Genusschein
BP PLC
% of Net Assets
2.4%
2.1%
2.0%
1.9%
1.9%
1.9%
1.8%
1.8%
1.8%
1.7%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree International LargeCap Dividend Fund (the “Fund”) seeks to track the
price and yield performance, before fees and expenses, of the WisdomTree International
LargeCap Dividend Index.
The Fund returned 18.35% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund benefited from its investment in France, which contributed positively
to performance. The Fund’s position in Hong Kong detracted from performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market price
returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of
trading on the exchange where Fund shares are listed. NAV and market price returns
assume that dividends and capital gain distributions have been reinvested in the Fund at
NAV and market price, respectively. As with other ETFs, NAV returns and market price
returns may differ because of factors such as the supply and demand for Fund shares and
investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio
was 0.48%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
18.35%
7.21%
15.02%
4.36%
Fund
Market Price
WisdomTree
International
LargeCap
Dividend Index
18.05%
7.28%
14.89%
4.28%
18.93%
7.45%
15.34%
4.70%
MSCI EAFE Index
17.56%
7.21%
16.02%
4.14%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$18,000
$16,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$13,944 WisdomTree International LargeCap Dividend Fund (DOL)
$13,720 MSCI EAFE Index
$13,944
$13,720
$14,000
$12,000
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 13
Performance Summary (unaudited)
WisdomTree International Dividend ex-Financials Fund (DOO)
Sector Breakdown† as of 3/31/14
Sector
Utilities
Telecommunication Services
Industrials
Energy
Consumer Staples
Materials
Consumer Discretionary
Health Care
Information Technology
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
18.7%
15.8%
12.5%
10.6%
10.0%
10.0%
9.8%
8.6%
3.4%
0.2%
0.4%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Orange S.A.
Ferrovial S.A.
GDF Suez
EDF S.A.
Deutsche Telekom AG
EDP-Energias de Portugal S.A.
E.ON SE
Vivendi S.A.
Telstra Corp., Ltd.
RWE AG
% of Net Assets
3.0%
2.8%
2.5%
2.4%
2.3%
2.1%
2.0%
1.9%
1.9%
1.9%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree International Dividend ex-Financials Fund (the “Fund”) seeks to track
the price and yield performance, before fees and expenses, of the WisdomTree
International Dividend ex-Financials Index.
The Fund returned 22.58% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund benefited from its investment in France, which contributed positively
to performance. The Fund’s position in Japan detracted from performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market price
returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of
trading on the exchange where Fund shares are listed. NAV and market price returns
assume that dividends and capital gain distributions have been reinvested in the Fund at
NAV and market price, respectively. As with other ETFs, NAV returns and market price
returns may differ because of factors such as the supply and demand for Fund shares and
investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio
was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception2
1
2
22.58%
6.41%
16.70%
4.74%
WisdomTree
International Dividend
Top 100/International
Dividend ex-Financials
Spliced Index1
Fund
Market Price
22.46%
6.21%
16.69%
4.59%
22.92%
6.46%
16.68%
4.89%
MSCI EAFE
Value Index
20.25%
7.16%
16.11%
3.41%
WisdomTree International Dividend Top 100 Index through May 7, 2009; WisdomTree International Dividend ex-Financials
Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$18,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$14,345 WisdomTree International Dividend ex-Financials Fund (DOO)
$16,000
$13,720 MSCI EAFE Value Index
$14,345
$13,720
$14,000
$12,000
$10,000
$8,000
$6,000
03
/3
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14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
14 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree International MidCap Dividend Fund (DIM)
Sector Breakdown† as of 3/31/14
Sector
Industrials
Financials
Consumer Discretionary
Materials
Telecommunication Services
Utilities
Consumer Staples
Information Technology
Health Care
Energy
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
24.6%
20.1%
12.8%
8.7%
7.6%
6.4%
6.0%
5.3%
4.7%
2.4%
0.9%
0.5%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Belgacom S.A.
Atlantia SpA
CNP Assurances
Bouygues S.A.
ACS Actividades de
Construccion y Servicios,
S.A.
TDC A/S
Bezeq The Israeli
Telecommunication Corp.,
Ltd.
Gjensidige Forsikring ASA
Veolia Environnement S.A.
Telefonica Deutschland
Holding AG
% of Net Assets
1.2%
1.0%
1.0%
0.9%
The WisdomTree International MidCap Dividend Fund (the “Fund”) seeks to track the
price and yield performance, before fees and expenses, of the WisdomTree International
MidCap Dividend Index.
The Fund returned 20.22% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund’s position in the United Kingdom contributed to performance while its
position in Singapore subtracted from performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio
was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
0.7%
0.7%
0.7%
0.7%
0.7%
0.6%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
Fund
Market Price
WisdomTree
International MidCap
Dividend Index
MSCI EAFE
Mid Cap Index
20.22%
7.48%
17.78%
20.00%
7.64%
17.75%
21.01%
7.49%
18.16%
19.92%
7.51%
17.66%
5.96%
5.90%
6.07%
4.44%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$18,000
$16,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$15,703 WisdomTree International MidCap Dividend Fund (DIM)
$14,033 MSCI EAFE Mid Cap Index
$15,703
$14,033
$14,000
$12,000
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 15
Performance Summary (unaudited)
WisdomTree International SmallCap Dividend Fund (DLS)
Sector Breakdown† as of 3/31/14
Sector
Industrials
Consumer Discretionary
Financials
Information Technology
Materials
Consumer Staples
Health Care
Utilities
Telecommunication Services
Energy
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
25.2%
19.8%
16.4%
10.1%
10.1%
7.0%
3.3%
2.2%
2.1%
2.1%
0.7%
1.0%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Logitech International S.A.
Intesa Sanpaolo SpA RSP
Drillisch AG
Unipol Gruppo Finanziario SpA
Adelaide Brighton Ltd.
China South City Holdings Ltd.
Cable & Wireless
Communications PLC
Sonae
Carillion PLC
Clal Insurance Enterprise
Holdings Ltd.
% of Net Assets
1.0%
0.8%
0.6%
0.6%
0.6%
0.5%
0.5%
0.5%
0.5%
0.5%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree International SmallCap Dividend Fund (the “Fund”) seeks to track the
price and yield performance, before fees and expenses, of the WisdomTree International
SmallCap Dividend Index.
The Fund returned 22.26% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund’s position in the United Kingdom contributed to performance while its
position in Singapore contributed the least to performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio
was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
Fund
Market Price
WisdomTree
International SmallCap
Dividend Index
MSCI EAFE
Small Cap Index
22.26%
11.31%
21.78%
22.44%
11.49%
21.67%
22.63%
11.47%
22.46%
23.26%
9.40%
21.70%
7.02%
6.96%
7.38%
5.96%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 16, 2006.
$18,000
Growth of $10,000 Investment (Since Inception 6/16/2006)
$16,957 WisdomTree International SmallCap Dividend Fund (DLS)
$16,000
$16,957
$15,702
$15,702 MSCI EAFE Small Cap Index
$14,000
$12,000
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
06
/1
6/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
16 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Emerging Markets Equity Income Fund (DEM)
Sector Breakdown† as of 3/31/14
Sector
Financials
Energy
Materials
Telecommunication Services
Utilities
Information Technology
Industrials
Consumer Discretionary
Consumer Staples
Health Care
Other Assets less Liabilities‡
Total
% of Net Assets
25.5%
20.5%
17.1%
16.6%
6.9%
5.5%
2.8%
2.6%
2.0%
0.0%
0.5%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Gazprom OAO ADR
China Construction Bank Corp.
Class H
Rosneft Oil Co. Reg S GDR
Vale S.A.
Industrial & Commercial Bank
of China Class H
MMC Norilsk Nickel OJSC ADR
Lukoil OAO ADR
Banco do Brasil S.A.
Bank of China Ltd. Class H
MTN Group Ltd.
% of Net Assets
5.4%
The WisdomTree Emerging Markets Equity Income Fund (the “Fund”) seeks to track the
price and yield performance, before fees and expenses, of the WisdomTree Emerging
Markets Equity Income Index.
The Fund returned -6.22% for the fiscal year ending March 31, 2014 (for more complete
performance information please see the chart below). The Fund benefited most
significantly from its investment in South Africa. The Fund was impacted most negatively
by its investment in Brazil.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market price
returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of
trading on the exchange where Fund shares are listed. NAV and market price returns
assume that dividends and capital gain distributions have been reinvested in the Fund at
NAV and market price, respectively. As with other ETFs, NAV returns and market price
returns may differ because of factors such as the supply and demand for Fund shares and
investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio
was 0.63%.
4.4%
4.3%
3.4%
3.2%
2.7%
2.3%
2.1%
2.1%
1.9%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
Fund
Market Price
WisdomTree
Emerging
Markets Equity
Income Index
MSCI Emerging
Markets Index
-6.22%
-2.80%
13.96%
-6.98%
-3.22%
13.62%
-5.14%
-1.76%
15.35%
-1.43%
-2.86%
14.48%
3.57%
3.07%
4.60%
0.21%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on July 13, 2007.
$16,000
$14,000
Growth of $10,000 Investment (Since Inception 7/13/2007)
$12,654 WisdomTree Emerging Markets Equity Income Fund (DEM)
$10,145 MSCI Emerging Markets Index
$12,654
$12,000
$10,145
$10,000
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
07
/1
3/
07
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 17
Performance Summary (unaudited)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
Sector Breakdown† as of 3/31/14
Sector
Financials
Industrials
Information Technology
Consumer Discretionary
Materials
Consumer Staples
Utilities
Energy
Health Care
Investment Company
Telecommunication Services
Other Assets less Liabilities‡
Total
% of Net Assets
20.3%
17.0%
15.2%
14.2%
12.6%
6.9%
6.4%
2.6%
2.3%
1.3%
0.8%
0.4%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Synnex Technology
International Corp.
Synthos S.A.
Coronation Fund
Managers Ltd.
iPath MSCI India Index ETN
Tauron Polska Energia S.A.
Light S.A.
Semirara Mining Corp.
Advantech Co. Ltd.
HAP Seng Consolidated Bhd
Delta Electronics Thailand PCL
% of Net Assets
1.1%
1.1%
The WisdomTree Emerging Markets SmallCap Dividend Fund (the “Fund”) seeks to
track the price and yield performance, before fees and expenses, of the WisdomTree
Emerging Markets SmallCap Dividend Index.
The Fund returned -6.08% for the fiscal year ending March 31, 2014 (for more complete
performance information please see the chart below). The Fund’s position in Taiwan
contributed to performance while its position in Thailand subtracted from performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market price
returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of
trading on the exchange where Fund shares are listed. NAV and market price returns
assume that dividends and capital gain distributions have been reinvested in the Fund at
NAV and market price, respectively. As with other ETFs, NAV returns and market price
returns may differ because of factors such as the supply and demand for Fund shares and
investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio
was 0.63%.
Performance as of 3/31/14
Average Annual Total Return
1.0%
1.0%
0.9%
0.9%
0.8%
0.7%
0.7%
0.7%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
Fund
Market Price
-6.08%
-1.11%
17.32%
1.83%
WisdomTree
Emerging Markets
SmallCap
Dividend Index
-6.58%
-1.14%
17.43%
1.90%
-5.55%
0.02%
19.06%
2.97%
MSCI
Emerging Markets
Small Cap Index
0.40%
-1.45%
19.70%
-0.30%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on October 30, 2007.
$14,000
Growth of $10,000 Investment (Since Inception 10/30/2007)
$11,238 WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
$12,000
$9,811 MSCI Emerging Markets Small Cap Index
$11,238
$10,000
$9,811
$8,000
$6,000
$4,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
10
/3
0/
07
$2,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
18 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Middle East Dividend Fund (GULF)
Sector Breakdown† as of 3/31/14
Sector
Financials
Telecommunication Services
Industrials
Materials
Energy
Utilities
Consumer Discretionary
Consumer Staples
Other Assets less Liabilities‡
Total
% of Net Assets
57.8%
22.5%
10.5%
2.5%
2.4%
1.2%
0.9%
0.9%
1.3%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Industries Qatar QSC
Qatar National Bank SAQ
First Gulf Bank PJSC
Maroc Telecom SA
Mobile Telecommunications
Co. KSC
Orascom Telecom Media And
Technology Holding SAE
Emirates NBD PJSC
Abu Dhabi Commercial Bank
PJSC
National Bank of Kuwait
Telecom Egypt Co.
% of Net Assets
7.2%
6.9%
6.1%
5.6%
5.3%
The WisdomTree Middle East Dividend Fund (the “Fund”) seeks to track the price and
yield performance, before fees and expenses, of the WisdomTree Middle East Dividend
Index.
The Fund returned 44.12% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund’s position in the United Arab Emirates was the greatest contributor to
performance while its position in Jordan contributed the least to performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
on transactions in Fund shares or that a shareholder would pay on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.88%.
Performance as of 3/31/14
Average Annual Total Return
4.1%
4.1%
3.8%
3.4%
3.4%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception1
1
Fund
Market Price
WisdomTree
Middle East
Dividend Index
MSCI Arabian
Markets ex-Saudi
Arabia Index
44.12%
16.57%
18.26%
43.18%
15.91%
18.13%
45.74%
16.59%
19.80%
33.42%
9.66%
13.43%
2.34%
2.14%
3.71%
-3.77%
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on July 16, 2008.
$12,000
Growth of $10,000 Investment (Since Inception 7/16/2008)
$11,410 WisdomTree Middle East Dividend Fund (GULF)
$11,410
$8,029 MSCI Arabian Markets ex-Saudi Arabia Index
$10,000
$8,029
$8,000
$6,000
$4,000
03
/3
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03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
07
/1
6/
08
$2,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 19
Performance Summary (unaudited)
WisdomTree Europe Hedged Equity Fund (HEDJ)
Sector Breakdown† as of 3/31/14
Sector
Industrials
Consumer Discretionary
Consumer Staples
Financials
Health Care
Materials
Utilities
Information Technology
Energy
Telecommunication Services
Communications
Other Assets less Liabilities‡
Total
The WisdomTree Europe Hedged Equity Fund (the “Fund”) seeks to track the price and yield
performance, before fees and expenses, of the WisdomTree Europe Hedged Equity Index.
% of Net Assets
21.3%
18.9%
18.5%
16.7%
9.1%
5.2%
4.0%
3.9%
1.1%
0.7%
0.4%
0.2%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
The Fund returned 15.73% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund benefited from its investment in Germany, which had strong positive
returns. The Fund’s position in Portugal detracted from performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was
0.58%.
Description
Banco Bilbao Vizcaya
Argentaria S.A.
Anheuser-Busch InBev N.V.
Daimler AG
Banco Santander S.A.
Siemens AG
Sanofi
Unilever N.V.
E.ON SE
Bayerische Motoren Werke AG
LVMH Moet Hennessy Louis
Vuitton S.A.
% of Net Assets
Performance as of 3/31/14
7.9%
5.7%
5.2%
4.9%
4.4%
4.0%
3.9%
3.8%
3.2%
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Since
Inception3
1
2
2.9%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
3
Fund
Market Price
WisdomTree DEFA International
Hedged Equity/
Europe Hedged Equity
Spliced Index1
MSCI EAFE Local Currency/
MSCI EMU Local Currency
Spliced Index2
15.73%
8.69%
15.31%
8.57%
16.34%
9.12%
23.95%
8.98%
7.36%
7.45%
7.94%
7.69%
WisdomTree DEFA International Hedged Equity Index through August 29, 2012; WisdomTree Europe Hedged Equity Index
thereafter.
MSCI EAFE Local Currency Index through August 29, 2012; MSCI EMU Local Currency Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on December 31, 2009.
$15,000
Growth of $10,000 Investment (Since Inception 12/31/2009)
$13,522 WisdomTree Europe Hedged Equity Fund (HEDJ)
$14,000
$13,702
$13,522
$13,702 MSCI EAFE Local Currency/MSCI EMU Local Currency Spliced Index
$13,000
$12,000
$11,000
$10,000
$9,000
03
/3
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14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
12
/3
1/
09
03
/3
1/
10
$8,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
20 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Commodity Country Equity Fund (CCXE)
Sector Breakdown† as of 3/31/14
Sector
Financials
Energy
Telecommunication Services
Materials
Utilities
Consumer Staples
Industrials
Consumer Discretionary
Health Care
Information Technology
Investment Companies
Other Assets less Liabilities‡
Total
% of Net Assets
24.8%
22.8%
15.3%
12.5%
6.1%
5.8%
5.0%
4.7%
1.5%
0.8%
0.1%
0.6%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Statoil ASA
Telecom Corp. of New Zealand
Ltd.
Gazprom OAO
MTN Group Ltd.
Telenor ASA
Rosneft Oil Co. Reg S
Vale SA
Fletcher Building Ltd.
Sasol Ltd.
Auckland International Airport
Ltd.
% of Net Assets
The WisdomTree Commodity Country Equity Fund (the “Fund”) seeks to track the price
and yield performance, before fees and expenses, of the WisdomTree Commodity
Country Equity Index.
The Fund returned -0.22% at net asset value (“NAV”) for the fiscal year ending March 31,
2014 (for more complete performance information please see the chart below). The
Fund benefited most significantly from its position in New Zealand. The Fund’s position
in Chile created a drag on Fund performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
on transactions in Fund shares or that a shareholder would pay on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
6.8%
3.5%
2.7%
2.5%
2.5%
2.3%
2.2%
2.2%
2.0%
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception3
1
2
3
1.9%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
-0.22%
1.19%
17.40%
5.76%
Fund
Market Price
WisdomTree
International Basic
Materials Sector/Commodity
Country Equity
Spliced Index1
-0.27%
0.95%
17.00%
5.60%
0.12%
1.58%
18.05%
6.42%
S&P Developed
ex-U.S. BMI
Materials Sector/
MSCI ACWI ex-USA
Spliced Index2
12.31%
3.14%
19.90%
3.27%
WisdomTree International Basic Materials Sector Index through June 17, 2011; WisdomTree Commodity Country Equity
Index thereafter.
S&P Developed ex-U.S. BMI Materials Sector Index through June 17, 2011; MSCI ACWI ex-USA Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on October 13, 2006. The
S&P Developed ex-U.S. Sector Index total returns are based on the index’s inception date of April 1, 2008.
$20,000
$18,000
Growth of $10,000 Investment (Since Inception 10/13/2006)
$15,197 WisdomTree Commodity Country Equity Fund (CCXE)
$12,129 S&P Developed ex-U.S. BMI Materials Sector/MSCI ACWI ex-USA Spliced Index
$16,000
$15,197
$14,000
$12,129
$12,000
$10,000
$8,000
$6,000
$4,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
10
/1
3/
06
$2,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 21
Performance Summary (unaudited)
WisdomTree Global Natural Resources Fund (GNAT)
Industry Breakdown† as of 3/31/14
Industry
Oil, Gas & Consumable Fuels
Metals & Mining
Chemicals
Energy Equipment & Services
Food Products
Investment Company
Other Assets less Liabilities‡
Total
% of Net Assets
46.8%
31.5%
10.3%
5.8%
4.5%
0.8%
0.3%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
KGHM Polska Miedz S.A.
MMC Norilsk Nickel OJSC ADR
Total S.A.
Eni SpA
Crescent Point Energy Corp.
Vale S.A.
Statoil ASA
BP PLC
Royal Dutch Shell PLC Class A
Woodside Petroleum Ltd.
% of Net Assets
5.0%
3.2%
2.6%
2.4%
2.4%
2.2%
2.2%
2.1%
2.0%
1.9%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree Global Natural Resources Fund (the “Fund”) seeks to track the price
and yield performance, before fees and expenses, of the WisdomTree Global Natural
Resources Index.
The Fund returned -2.72% at net asset value (“NAV”) for the fiscal year ending March 31,
2014 (for more complete performance information please see the chart below). The
Fund benefited most significantly from its investment in the United States of America.
The Fund was impacted most negatively by its investment in Poland.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
on transactions in Fund shares or that a shareholder would pay on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception3
1
2
3
-2.72%
-7.42%
6.33%
1.22%
WisdomTree
International
Energy Sector/Global
Natural Resources
Spliced Index1
Fund
Market Price
-2.98%
-7.55%
6.38%
1.08%
S&P Developed ex-U.S.
BMI Energy Sector/
S&P Global
Natural Resources
Spliced Index2
-2.42%
-7.00%
6.81%
1.59%
2.46%
-4.73%
9.38%
-0.41%
WisdomTree International Energy Sector Index through June 17, 2011; WisdomTree Global Natural Resources Index
thereafter.
S&P Developed ex-U.S. BMI Energy Sector Index through June 17, 2011; S&P Global Natural Resources Index thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on October 13, 2006. The
S&P Developed ex-U.S. BMI Energy Sector Index total returns are based on the index’s inception date of April 1, 2008.
$20,000
Growth of $10,000 Investment (Since Inception 10/13/2006)
$10,944 WisdomTree Global Natural Resources Fund (GNAT)
$18,000
$9,755 S&P Developed ex-U.S. BMI Energy Sector/S&P Global Natural Resources Spliced Index
$16,000
$14,000
$12,000
$10,944
$9,755
$10,000
$8,000
$6,000
03
/3
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14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
10
/1
3/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
22 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Global ex-U.S. Utilities Fund (DBU)
The WisdomTree Global ex-U.S. Utilities Fund (the “Fund”) seeks to track the price and yield
performance, before fees and expenses, of the WisdomTree Global ex-U.S. Utilities Index.
Industry Breakdown†
as of 3/31/14
Industry
Electric Utilities
Water Utilities
Independent Power
Producers & Energy Traders
Gas Utilities
Investment Company
Other Assets less Liabilities‡
Total
% of Net Assets
41.8%
26.7%
15.9%
14.4%
0.9%
0.3%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
GDF Suez
Veolia Environnement S.A.
EDF S.A.
Light S.A.
PGE S.A.
EDP-Energias de Portugal S.A.
Suez Environnement Co.
Centrais Eletricas Brasileiras
S.A.
E.ON SE
RWE AG
% of Net Assets
2.9%
2.8%
2.8%
2.7%
2.7%
2.4%
2.4%
2.3%
2.3%
2.1%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The Fund returned 14.34% at net asset value (“NAV”) for the fiscal year ending
March 31, 2014 (for more complete performance information please see the chart
below). The Fund benefited most significantly from its investment in France. The Fund
was impacted most negatively by its investment in Chile.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
on transactions in Fund shares or that a shareholder would pay on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception2
1
2
14.34%
1.39%
6.56%
0.72%
Fund
Market Price
WisdomTree
International Utilities
Sector/Global ex-U.S.
Utilities Spliced Index
13.63%
1.23%
6.32%
0.56%
14.49%
1.27%
6.51%
0.85%
S&P Developed
ex-U.S. BMI
Utilities
Sector Index1
23.55%
2.34%
6.84%
-2.97%
WisdomTree International Utilities Sector Index through June 17, 2011; WisdomTree Global ex-U.S. Utilities Index
thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on October 13, 2006. The
S&P Developed ex-U.S. BMI Utilities Sector Index total returns are based on the index’s inception date of April 1, 2008.
$18,000
$16,000
Growth of $10,000 Investment (Since Inception 10/13/2006)
$10,547 WisdomTree Global ex-U.S. Utilities Fund (DBU)
$8,344 S&P Developed ex-U.S. BMI Utilities Sector Index
$14,000
$12,000
$10,547
$10,000
$8,344
$8,000
$6,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
03
/3
1/
07
10
/1
3/
06
$4,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 23
Performance Summary (unaudited)
WisdomTree Global ex-U.S. Real Estate Fund (DRW)
Industry Breakdown† as of 3/31/14
Industry
Diversified REITs
Retail REITs
Real Estate Development
Real Estate Operating
Companies
Office REITs
Specialized REITs
Investment Company
Other Assets less Liabilities‡
Total
% of Net Assets
38.0%
28.3%
16.8%
10.8%
4.4%
1.0%
0.3%
0.4%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Unibail-Rodamco SE
Cheung Kong Holdings Ltd.
Sun Hung Kai Properties Ltd.
Westfield Group
Westfield Retail Trust
Stockland
Land Securities Group PLC
British Land Co. PLC
Klepierre
Wharf Holdings Ltd.
% of Net Assets
3.9%
3.8%
3.5%
3.4%
1.9%
1.8%
1.6%
1.5%
1.5%
1.5%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree Global ex-U.S. Real Estate Fund (the “Fund”) seeks to track the price
and yield performance, before fees and expenses, of the WisdomTree Global ex-U.S. Real
Estate Index.
The Fund returned -2.70% at net asset value (“NAV”) for the fiscal year ending March 31,
2014 (for more complete performance information please see the chart below). The
Fund benefited most from its position in the United Kingdom, which had positive
performance. The Fund’s position in Hong Kong was a drag on the Fund’s performance
as the country provided negative returns.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market
price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the
close of trading on the exchange where Fund shares are listed. NAV and market price
returns assume that dividends and capital gain distributions have been reinvested in the
Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market
price returns may differ because of factors such as the supply and demand for Fund shares
and investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does not
actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore,
index returns do not reflect deductions for fees or expenses and the index is not available for
direct investment. In comparison, the Fund’s performance is negatively impacted by these
deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in
Fund shares or that a shareholder would pay on Fund distributions. As of the Fund’s current
prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.58%.
Performance as of 3/31/14
Average Annual Total Return
Fund
Net Asset Value
One Year
Three Year
Five Year
Since Inception2
1
2
-2.70%
4.63%
18.84%
-2.52%
Fund
Market Price
WisdomTree
International
Real Estate/Global
ex-U.S. Real Estate
Spliced Index1
-3.82%
4.27%
18.49%
-2.75%
-2.52%
4.77%
19.22%
-2.37%
Dow Jones Global
ex-U.S.
Select Real Estate
Securities Index
0.75%
7.86%
20.80%
-2.02%
WisdomTree International Real Estate Index through June 17, 2011; WisdomTree Global ex-U.S. Real Estate Index
thereafter.
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on June 5, 2007.
$14,000
Growth of $10,000 Investment (Since Inception 6/5/2007)
$8,403 WisdomTree Global ex-U.S. Real Estate Fund (DRW)
$12,000
$8,698 Dow Jones Global ex-U.S. Select Real Estate Securities Index
$10,000
$8,698
$8,403
$8,000
$6,000
$4,000
03
/3
1/
14
03
/2
8/
13
03
/3
1/
12
03
/3
1/
11
03
/3
1/
10
03
/3
1/
09
03
/3
1/
08
06
/0
5/
07
$2,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
24 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree China Dividend ex-Financials Fund (CHXF)
Sector Breakdown† as of 3/31/14
Sector
Energy
Industrials
Telecommunication Services
Consumer Staples
Materials
Information Technology
Consumer Discretionary
Utilities
Health Care
Basic Materials
Other Assets less Liabilities‡
Total
% of Net Assets
23.7%
13.9%
12.0%
11.1%
9.5%
8.8%
8.0%
7.4%
3.0%
2.6%
0.0%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
China Mobile Ltd.
China Petroleum & Chemical
Corp. Class H
PetroChina Co., Ltd. Class H
Tencent Holdings Ltd.
China Shenhua Energy Co.,
Ltd. Class H
Want Want China Holdings
Ltd.
CNOOC Ltd.
Hengan International Group
Co., Ltd.
Lenovo Group Ltd.
Citic Pacific Ltd.
% of Net Assets
7.2%
5.6%
4.7%
4.6%
The WisdomTree China Dividend ex-Financials Fund (the “Fund”) seeks to track the
price and yield performance, before fees and expenses, of the WisdomTree China
Dividend ex-Financials Index.
The Fund returned -1.32% at net asset value (“NAV”) for the fiscal year ending March 31,
2014 (for more complete performance information please see the chart below). The
Fund benefited from its investment in Industrials, which had positive performance. The
Fund’s position in Energy detracted from performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market price
returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of
trading on the exchange where Fund shares are listed. NAV and market price returns
assume that dividends and capital gain distributions have been reinvested in the Fund at
NAV and market price, respectively. As with other ETFs, NAV returns and market price
returns may differ because of factors such as the supply and demand for Fund shares and
investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was
0.63%.
Performance as of 3/31/14
Average Annual Total Return
4.5%
4.2%
3.9%
Fund
Net Asset Value
One Year
Since Inception1
1
3.3%
2.6%
2.5%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
-1.32%
1.56%
Fund
Market Price
-1.39%
0.96%
WisdomTree
China Dividend
ex-Financials
Index
-1.40%
1.65%
MSCI China
Index
2.20%
6.64%
FTSE China 25
Index
0.73%
4.41%
Total returns are calculated based on the commencement of Fund trading on the NASDAQ on September 19, 2012.
$12,500
Growth of $10,000 Investment (Since Inception 9/19/2012)
$10,239 WisdomTree China Dividend ex-Financials Fund (CHXF)
$12,000
$11,032 MSCI China Index
$11,500
$11,032
$11,000
$10,500
$10,239
$10,000
$9,500
03
/3
1/
14
12
/3
1/
13
09
/3
0/
13
06
/3
0/
13
03
/2
8/
13
12
/3
1/
12
09
/1
09 9/1
/3 2
0/
12
$9,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 25
Performance Summary (unaudited)
WisdomTree United Kingdom Hedged Equity Fund (DXPS)
Sector Breakdown† as of 3/31/14
Sector
Consumer Staples
Energy
Financials
Materials
Health Care
Industrials
Telecommunication Services
Utilities
Consumer Discretionary
Information Technology
Other Assets less Liabilities‡
Total
% of Net Assets
19.1%
17.3%
16.6%
11.9%
11.1%
6.1%
5.6%
5.2%
5.1%
1.4%
0.6%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
AstraZeneca PLC
Royal Dutch Shell PLC Class B
BP PLC
Royal Dutch Shell PLC Class A
British American Tobacco PLC
GlaxoSmithKline PLC
HSBC Holdings PLC
Rio Tinto PLC
National Grid PLC
BHP Billiton PLC
% of Net Assets
5.8%
5.3%
5.2%
5.1%
4.7%
4.7%
4.3%
3.9%
3.5%
3.5%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree United Kingdom Hedged Equity Fund (the “Fund”) seeks to track the
price and yield performance, before fees and expenses, of the WisdomTree United
Kingdom Hedged Equity Index.
The Fund returned 9.36% at net asset value (“NAV”) since its inception on June 28, 2013
through March 31, 2014 (for more complete performance information please see the
chart below). The Fund benefited from its position in Materials. The Fund’s position in
Information Technology, though positive, contributed least to performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of the Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes a shareholder would pay on the sale of Fund shares or on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.48%.
Performance as of 3/31/14
Cumulative Total Return
Fund
Net Asset Value
Since Inception1
1
Fund
Market Price
9.36%
8.04%
WisdomTree
United Kingdom
Hedged Equity
Index
MSCI
United Kingdom
Local Currency
Index
9.97%
8.58%
Total returns are calculated based on the commencement of Fund trading on the NASDAQ on June 28, 2013.
$11,500
Growth of $10,000 Investment (Since Inception 6/28/2013)
$10,936 WisdomTree United Kingdom Hedged Equity Fund (DXPS)
$10,858 MSCI United Kingdom Local Currency Index
$11,000
$10,936
$10,858
$10,500
$10,000
$9,500
03
/3
1/
14
02
/2
8/
14
01
/3
1/
14
12
/3
1/
13
11
/3
0/
13
10
/3
1/
13
09
/3
0/
13
08
/3
1/
13
07
/3
1/
13
06
/2
06 8/1
/3 3
0/
13
$9,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
26 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
Sector Breakdown† as of 3/31/14
Sector
Industrials
Consumer Discretionary
Materials
Consumer Staples
Financials
Information Technology
Health Care
Energy
Utilities
Other Assets less Liabilities‡
Total
% of Net Assets
26.1%
22.9%
11.8%
10.7%
10.6%
10.2%
4.6%
1.2%
0.5%
1.4%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Minebea Co., Ltd.
Azbil Corp.
Iida Group Holdings Co., Ltd.
SQUARE ENIX HOLDINGS Co.,
Ltd.
Ube Industries, Ltd.
UACJ Corp.
Kaken Pharmaceutical Co.,
Ltd.
Denki Kagaku Kogyo K.K.
AUTOBACS SEVEN Co., Ltd.
UNY Group Holdings Co., Ltd.
% of Net Assets
0.7%
0.6%
0.6%
0.6%
0.6%
0.5%
0.5%
0.5%
0.5%
0.5%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree Japan Hedged SmallCap Equity Fund (the “Fund”) seeks to track the
price and yield performance, before fees and expenses, of the WisdomTree Japan
Hedged SmallCap Equity Index.
The Fund returned 11.37% at net asset value (“NAV”) since its inception on June 28,
2013 through March 31, 2014 (for more complete performance information please see
the chart below). The Fund benefited from its position in Industrials. The Fund’s
position in Consumer Discretionary created a drag on performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of the Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes a shareholder would pay on the sale of Fund shares or on Fund distributions. As of
the Fund’s current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.58%.
Performance as of 3/31/14
Cumulative Total Return
Fund
Net Asset Value
Since Inception1
1
Fund
Market Price
11.37%
10.30%
WisdomTree
Japan Hedged
SmallCap
Equity Index
MSCI Japan
Small Cap Local
Currency Index
12.70%
12.85%
Total returns are calculated based on the commencement of Fund trading on the NASDAQ on June 28, 2013.
$12,000
$11,500
Growth of $10,000 Investment (Since Inception 6/28/2013)
$11,137 WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
$11,285 MSCI Japan Small Cap Local Currency Index
$11,285
$11,137
$11,000
$10,500
$10,000
$9,500
03
/3
1/
14
02
/2
8/
14
01
/3
1/
14
12
/3
1/
13
11
/3
0/
13
10
/3
1/
13
09
/3
0/
13
08
/3
1/
13
07
/3
1/
13
06
/2
8/
13
06
/3
0/
13
$9,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 27
Performance Summary (unaudited)
WisdomTree Emerging Markets Dividend Growth Fund (DGRE)
Sector Breakdown† as of 3/31/14
Sector
Consumer Staples
Telecommunication Services
Materials
Financials
Information Technology
Energy
Consumer Discretionary
Industrials
Investment Companies
Utilities
Health Care
Other Assets less Liabilities‡
Total
% of Net Assets
18.3%
17.7%
14.2%
13.1%
9.7%
7.5%
7.5%
5.4%
2.6%
1.8%
1.8%
0.4%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Taiwan Semiconductor
Manufacturing Co., Ltd.
MMC Norilsk Nickel OJSC
Ambev SA
MTN Group Ltd.
Vodacom Group Ltd.
iPath MSCI India Index ETN
MegaFon OAO
PetroChina Co., Ltd. Class H
America Movil SAB de
C.V.Series L
Petroleo Brasileiro SA
% of Net Assets
The WisdomTree Emerging Markets Dividend Growth Fund (the “Fund”) seeks to track
the price and yield performance, before fees and expenses, of the WisdomTree Emerging
Markets Dividend Growth Index.
The Fund returned -0.33% at net asset value (“NAV”) since its inception on August 1,
2013 through March 31, 2014 (for more complete performance information please see
the chart below). The Fund’s position in Russia contributed to performance while its
position in Thailand subtracted from performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of the Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does not
actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is not
available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
a shareholder would pay on the sale of Fund shares or on Fund distributions. As of the Fund’s
current prospectus dated August 1, 2013, the Fund’s annual expense ratio was 0.63%.
6.3%
5.6%
4.5%
3.7%
3.1%
2.6%
2.5%
2.3%
2.3%
2.1%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
Performance as of 3/31/14
Cumulative Total Return
Fund
Net Asset Value
Since Inception1
1
-0.33%
WisdomTree
Emerging Markets
Dividend
Growth Index
Fund
Market Price
-2.59%
MSCI
Emerging Markets Index
0.18%
5.38%
Total returns are calculated based on the commencement of Fund trading on the NASDAQ on August 1, 2013.
$11,500
Growth of $10,000 Investment (Since Inception 8/01/2013)
$9,967 WisdomTree Emerging Markets Dividend Growth Fund (DGRE)
$10,538 MSCI Emerging Markets Index
$11,000
$10,500
$10,538
$10,000
$9,967
$9,500
03
/3
1/
14
02
/2
8/
14
01
/3
1/
14
12
/3
1/
13
11
/3
0/
13
10
/3
1/
13
09
/3
0/
13
08
/3
1/
13
08
/0
1/
13
$9,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
28 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Emerging Markets Consumer Growth Fund (EMCG)
Sector Breakdown† as of 3/31/14
Sector
Consumer Discretionary
Consumer Staples
Financials
Telecommunication Services
Utilities
Industrials
Investment Companies
Health Care
Energy
Other Assets less Liabilities‡
Total
% of Net Assets
32.2%
27.2%
18.0%
10.8%
3.9%
3.8%
2.0%
1.7%
0.0%
0.4%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Ping An Insurance Group Co.
of China Ltd. Class H
PT Astra International Tbk
Ambev SA
America Movil S.A.B de
C.V.Series L
Tata Motors Ltd.
Dongfeng Motor Group Co.,
Ltd. Class H
Fomento Economico Mexicano
S.A.B de C.V.
MTN Group Ltd.
iPath MSCI India Index ETN
PICC Property & Casualty Co.,
Ltd. Class H
% of Net Assets
3.9%
3.8%
3.4%
The WisdomTree Emerging Markets Consumer Growth Fund (the “Fund”) seeks to track
the price and yield performance, before fees and expenses, of the WisdomTree Emerging
Markets Consumer Growth Index.
The Fund returned -0.63% at net asset value (“NAV”) since its inception on
September 27, 2013 through March 31, 2014 (for more complete performance
information please see the chart below). The Fund’s position in India contributed to
performance while its position in Brazil subtracted from performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of the Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does not
actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is not
available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes
a shareholder would pay on the sale of Fund shares or on Fund distributions. As of the Fund’s
current prospectus dated September 19, 2013, the Fund’s annual expense ratio was 0.63%.
Performance as of 3/31/14
3.2%
2.7%
Cumulative Total Return
Fund
Net Asset Value
2.7%
2.6%
2.5%
2.0%
Since Inception1
1
-1.16%
-0.63%
MSCI
Emerging Markets Index
0.14%
Total returns are calculated based on the commencement of Fund trading on the NASDAQ on September 27, 2013.
$11,000
Growth of $10,000 Investment (Since Inception 9/27/2013)
$9,937 WisdomTree Emerging Markets Consumer Growth Fund (EMCG)
1.9%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
-0.63%
Fund
Market Price
WisdomTree
Emerging
Markets Consumer
Growth Index
$10,014 MSCI Emerging Markets Index
$10,500
$10,014
$10,000
$9,937
$9,500
03
/3
1/
14
02
/2
8/
14
01
/3
1/
14
12
/3
1/
13
11
/3
0/
13
10
/3
1/
13
09
/
09 27/
/3 13
0/
13
$9,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 29
Performance Summary (unaudited)
WisdomTree Germany Hedged Equity Fund (DXGE)
Sector Breakdown† as of 3/31/14
Sector
Consumer Discretionary
Industrials
Financials
Materials
Health Care
Utilities
Telecommunication Services
Information Technology
Consumer Staples
Other Assets less Liabilities‡
Total
% of Net Assets
25.0%
17.2%
14.0%
11.1%
10.0%
8.7%
5.8%
4.9%
3.1%
0.2%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Daimler AG
Deutsche Telekom AG
Bayerische Motoren Werke AG
Siemens AG
Bayer AG
BASF SE
E.ON SE
Allianz SE
Muenchener
RueckversicherungsGesellschaft AG
RWE AG
% of Net Assets
6.4%
5.8%
5.7%
5.5%
5.1%
4.7%
4.7%
4.6%
The WisdomTree Germany Hedged Equity Fund (the “Fund”) seeks to track the price
and yield performance, before fees and expenses, of the WisdomTree Germany Hedged
Equity Index.
The Fund returned 7.88% at net asset value (“NAV”) since its inception on October 17,
2013 through March 31, 2014 (for more complete performance information please see
the chart below). The Fund benefited most from its position in Consumer Discretionary.
The Fund’s position in Telecommunication Services, though positive, contributed the
least to performance.
The following performance chart is provided for comparative purposes and represents
the period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price
return is based on the market price per share of the Fund. The price used to calculate
market price returns is the mid-point of the highest bid and lowest offer for Fund shares
as of the close of trading on the exchange where Fund shares are listed. NAV and market
price returns assume that dividends and capital gain distributions have been reinvested in
the Fund at NAV and market price, respectively. As with other ETFs. NAV returns and
market price returns may differ because of factors such as the supply and demand for
Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio
securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated October 3, 2013, the Fund’s annual expense ratio was
0.48%.
Performance as of 3/31/14
Cumulative Total Return
Fund
Net Asset Value
Since Inception1
4.1%
3.9%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
1
7.88%
Fund
Market Price
7.10%
WisdomTree
Germany Hedged
Equity Index
MSCI
Germany Local
Currency Index
8.10%
8.24%
Total returns are calculated based on the commencement of Fund trading on the NASDAQ on October 17, 2013.
$11,500
Growth of $10,000 Investment (Since Inception 10/17/2013)
$10,788 WisdomTree Germany Hedged Equity Fund (DXGE)
$10,824 MSCI Germany Local Currency Index
$11,000
$10,824
$10,788
$10,500
$10,000
$9,500
03
/3
1/
14
02
/2
8/
14
01
/3
1/
14
12
/3
1/
13
11
/3
0/
13
10
/3
1/
13
10
/1
7/
13
$9,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
30 WisdomTree International Dividend and Sector Funds
Performance Summary (unaudited)
WisdomTree Korea Hedged Equity Fund (DXKW)
Sector Breakdown† as of 3/31/14
Sector
Industrials
Information Technology
Consumer Discretionary
Materials
Consumer Staples
Energy
Health Care
Financials
Other Assets less Liabilities‡
Total
% of Net Assets
23.9%
22.3%
20.1%
19.3%
7.0%
5.0%
1.6%
0.8%
0.0%
100.0%
† The Fund’s sector breakdown is expressed as a
percentage of net assets and may change over
time. In addition, a sector may be comprised of
several industries. It does not include derivatives
(if any).
‡ Other assets includes investment of cash
collateral for securities on loan (if any).
Top Ten Holdings* as of 3/31/14
Description
Samsung Electronics Co., Ltd.
Hyundai Motor Co.
LG Chem Ltd.
Kia Motors Corp.
Hyundai Mobis
POSCO
Hyundai Steel Co.
KT&G Corp.
SK Hynix, Inc.
SK Holdings Co., Ltd.
% of Net Assets
11.0%
5.1%
4.9%
4.8%
4.8%
4.8%
4.8%
4.7%
4.5%
3.9%
* The ten largest holdings are subject to change,
and there are no guarantees the Fund will remain
invested in any particular company. Excludes
investment of cash collateral for securities on
loan (if any).
The WisdomTree Korea Hedged Equity Fund (the “Fund”) seeks to track the price and
yield performance, before fees and expenses, of the WisdomTree Korea Hedged Equity
Index.
The Fund returned -5.97% at net asset value (“NAV”) since its inception on November 7,
2013 through March 31, 2014 (for more complete performance information please see
the chart below). The Fund benefited from its position in Consumer Staples. The Fund’s
position in Materials created a drag on performance.
The following performance chart is provided for comparative purposes and represents the
period noted. The Fund’s per share NAV is the value of one share of the Fund and is
calculated by dividing the value of total assets less total liabilities by the number of shares
outstanding. The NAV return is based on the NAV of the Fund and the market price return
is based on the market price per share of the Fund. The price used to calculate market price
returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of
trading on the exchange where Fund shares are listed. NAV and market price returns
assume that dividends and capital gain distributions have been reinvested in the Fund at
NAV and market price, respectively. As with other ETFs. NAV returns and market price
returns may differ because of factors such as the supply and demand for Fund shares and
investors’ assessments of the underlying value of a Fund’s portfolio securities.
An index is a statistical measure of a specified financial market or sector. An index does
not actually hold a portfolio of securities, incur expenses or pay any transaction costs.
Therefore, index returns do not reflect deductions for fees or expenses and the index is
not available for direct investment. In comparison, the Fund’s performance is negatively
impacted by these deductions. Fund returns do not reflect brokerage commissions or
taxes on transactions in Fund shares or that a shareholder would pay on Fund
distributions. As of the Fund’s current prospectus dated October 25, 2013, the Fund’s annual expense ratio
was 0.58%.
Performance as of 3/31/14
Cumulative Total Return
Fund
Net Asset Value
Since Inception1
1
-5.97%
Fund
Market Price
-5.68%
WisdomTree
Korea Hedged
Equity Index
-6.22%
MSCI South Korea
Local Currency Index
-1.13%
Total returns are calculated based on the commencement of Fund trading on the NASDAQ on November 7, 2013.
$10,500
Growth of $10,000 Investment (Since Inception 11/07/2013)
$9,403 WisdomTree Korea Hedged Equity Fund (DXKW)
$9,887 MSCI South Korea Local Currency Index
$10,000
$9,887
$9,500
$9,403
03
/3
1/
14
02
/2
8/
14
01
/3
1/
14
12
/3
1/
13
11
/3
0/
13
11
/0
7/
13
$9,000
Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an
investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is
available at www.wisdomtree.com. WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Fund NAV returns are
calculated using the Fund’s daily 4:00 p.m. NAV. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares
are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a
shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.
WisdomTree International Dividend and Sector Funds 31
Description of Indexes (unaudited)
Below are descriptions of each Index referenced in this Report:
The Dow Jones Global ex-U.S. Select Real Estate Securities Index is a float-adjusted
market capitalization weighted index that defines and measures the investable universe of
publicly traded real estate securities in countries outside the U.S.
The FTSE China 25 Index is a capitalization weighted index that is comprised of the
25 largest and most liquid Chinese securities.
The MSCI AC Asia Pacific ex-Japan Index is comprised of large- and mid-capitalization
segments of emerging market and developed market countries in the Asia Pacific region,
excluding Japan.
The MSCI AC World ex-USA Growth Index is comprised of growth stocks in the
developed and emerging markets covered by MSCI excluding the U.S.
The MSCI AC World Index is comprised of the world stock market indexes covered by
MSCI.
The MSCI ACWI ex-USA Index is comprised of large- and mid-capitalization segments of
the developed and emerging markets covered by MSCI, excluding the U.S.
The MSCI Arabian Markets ex-Saudi Arabia Index is a free float-adjusted market
capitalization index that aims to represent the universe of companies in the Gulf
Cooperation Council (GCC) countries, excluding Saudi Arabia, plus Jordan, Egypt, and
Morocco, Tunisia and Lebanon.
The MSCI Australia Index is comprised of large- and mid-capitalization segments of the
Australia market.
The MSCI China Index is a capitalization weighted index that is comprised of stocks in
China.
The MSCI EAFE Index is a market cap-weighted index composed of companies
representative of the developed market structure of 21 developed countries in Europe,
Australasia and Japan.
The MSCI EAFE Local Currency Index is a free float-adjusted market capitalization
weighted index that is designed to measure developed market equity performance,
excluding the U.S. and Canada. The index is calculated using the same methodology as
its corresponding MSCI EAFE Index in U.S. dollars, with the key difference being the
currency in which the securities are quoted in. The price used for each security in the
local currency index is the local price, on the primary exchange on which a security is
traded, with no conversion into U.S. dollars.
The MSCI EAFE Mid Cap Index is a free float-adjusted market capitalization index that is
designed to measure the performance of mid-capitalization equities in the developed
markets excluding the U.S. & Canada.
The MSCI EAFE Small Cap Index is comprised of small-capitalization stocks in the MSCI
EAFE Index.
The MSCI EAFE Value Index is comprised of value stocks in the MSCI EAFE Index.
The MSCI Emerging Markets Index is a free float-adjusted market capitalization index
that is designed to measure emerging markets equity performance.
The MSCI Emerging Markets Small Cap Index is a free float-adjusted market
capitalization index that is designed to measure the performance of small capitalization
equities in the emerging markets.
The MSCI Europe Small Cap Index is comprised of small-capitalization stocks in the
MSCI Europe Index.
The MSCI Europe Value Index is comprised of value stocks in the MSCI Europe Index.
The MSCI European Economic and Monetary Union (EMU) Local Currency Index is a
free float-adjusted market capitalization weighted index that is designed to measure the
equity market performance of the 11 countries within EMU. The securities are priced in
local currency terms with no conversion into U.S. dollars.
The MSCI Germany Local Currency Index is a capitalization-weighted index that
measures the performance of the German equity market and provides local currency
returns, which are not translated back to U.S. dollars.
32 WisdomTree International Dividend and Sector Funds
Description of Indexes (unaudited) (continued)
The MSCI Japan Index is a capitalization weighted index that is comprised of stocks in
Japan.
The MSCI Japan Local Currency Index is a free float-adjusted market capitalization index
that is designed to measure developed market equity performance in Japan and uses the
same methodology as its corresponding MSCI Japan Index. The price used for each
security in the local currency index is the local price, on the primary exchange on which a
security is traded, with no conversion into U.S. dollars.
The MSCI Japan Small Cap Index is comprised of small cap stocks in the MSCI Japan
Index.
The MSCI Japan Small Cap Local Currency Index is a free float-adjusted market
capitalization index that is designed to measure the performance of small cap stocks
within Japan and provides local currency returns, which are not translated back to U.S.
dollars.
The MSCI Japan Value Index is comprised of value stocks in the MSCI Japan Index.
The MSCI Pacific ex-Japan Index is a subset of the MSCI EAFE Index that is comprised of
stocks in Australia, Hong Kong, Singapore and New Zealand.
The MSCI Pacific ex-Japan Value Index is comprised of value stocks in the MSCI Pacific
ex-Japan Index.
The MSCI South Korea Local Currency Index is a free float-adjusted market capitalizationweighted index designed to measure the performance of the South Korean equity market
and provides local currency returns, which are not translated back to U.S. dollars
The MSCI United Kingdom Local Currency Index is a capitalization-weighted index that
measures the performance of the British equity market and provides local currency
returns, which are not translated back to U.S. dollars.
The S&P 500® Index is a capitalization-weighted index of 500 stocks selected by Standard
& Poor’s Index Committee, designed to represent the performance of the leading
industries in the United States economy.
The S&P Developed ex-U.S. BMI Sector Indexes are indexes that track specific sectors of
developed global markets outside the United States.
The S&P Global Natural Resources Index is comprised of the largest publicly traded
companies in natural resources and commodities businesses that meet specific eligibility
requirements.
The WisdomTree Asia Pacific ex-Japan Index is comprised of dividend-paying companies
incorporated in emerging market and developed countries in the Pacific region,
excluding Japan.
The WisdomTree Australia Dividend Index is comprised of dividend-paying companies
incorporated in Australia.
The WisdomTree China Dividend ex-Financials Index is comprised of Chinese dividend
paying stocks outside the financial sector.
The WisdomTree Commodity Country Equity Index is comprised of dividend-paying
companies in developed and emerging market countries outside the U.S. and Canada in
the Commodities sector.
The WisdomTree DEFA Equity Income Index is comprised of companies with high
dividend yields selected from the WisdomTree DEFA Index.
The WisdomTree DEFA Index is comprised of dividend-paying companies in the
industrialized world, excluding Canada and the United States.
The WisdomTree DEFA International Hedged Equity Index is comprised of dividendpaying companies in the industrialized world, excluding Canada and the United States,
and is designed to neutralize exposure to fluctuations between the value of the U.S. dollar
and non-U.S. currencies reflected in the index. This index is based on the WisdomTree
DEFA Index.
The WisdomTree Emerging Markets Consumer Growth Index consists of stocks that best
exemplify growth trends in emerging market consumers and their local economies.
WisdomTree International Dividend and Sector Funds 33
Description of Indexes (unaudited) (continued)
The WisdomTree Emerging Markets Dividend Growth Index consists of dividend paying
stocks with growth characteristics selected from the WisdomTree Emerging Markets
Dividend Index.
The WisdomTree Emerging Markets Equity Income Index is comprised of the highest
dividend-yielding stocks selected from the WisdomTree Emerging Markets Dividend Index.
The WisdomTree Emerging Markets SmallCap Dividend Index is comprised of primarily
small-capitalization stocks selected from the WisdomTree Emerging Markets Dividend
Index.
The WisdomTree Europe Equity Income Index is comprised of companies with high
dividend yields selected from the WisdomTree Europe Dividend Index.
The WisdomTree Europe Hedged Equity Index is designed to provide exposure to
European equities while at the same time neutralizing exposure to fluctuations between
the Euro and the U.S. dollar.
The WisdomTree Europe SmallCap Dividend Index is comprised of the small
capitalization segment of the European dividend-paying market.
The WisdomTree Germany Hedged Equity Index is designed to provide exposure to
Germany equity markets while at the same time neutralizing exposure to fluctuations of
the Euro movements relative to the U.S. dollar. In this sense, the Index “hedges” against
fluctuations in the relative value of the Euro against the U.S. dollar.
The WisdomTree Global Equity Income Index is comprised of high dividend-paying
companies selected from the WisdomTree Dividend Index and the WisdomTree World
ex-U.S. Index.
The WisdomTree Global ex-U.S. Dividend Growth Index is comprised of growth
companies selected from developed and emerging markets outside the U.S.
The WisdomTree Global ex-U.S. Real Estate Index is comprised of companies in
developed and emerging markets outside of Canada and the U.S., which WisdomTree
classifies as being Global Real Estate securities.
The WisdomTree Global ex-U.S. Utilities Index is comprised of dividend-paying
companies in developed and emerging market countries outside the U.S. and Canada in
the Utilities sector.
The WisdomTree Global Natural Resources Index is comprised of dividend-paying
companies in developed and emerging market countries outside the U.S. and Canada in
the Natural Resources sector.
The WisdomTree International Dividend ex-Financials Index is comprised of high
dividend-yielding international stocks outside the financial sector.
The WisdomTree International Dividend Top 100 Index is comprised of the 100 highest
dividend-yielding companies in the WisdomTree International LargeCap Dividend Index.
The WisdomTree International LargeCap Dividend Index is comprised of the largecapitalization segment of the dividend-paying market in the industrialized world outside
the U.S. and Canada.
The WisdomTree International MidCap Dividend Index is comprised of the midcapitalization segment of the dividend-paying market in the industrialized world outside
the U.S. and Canada.
The WisdomTree International Real Estate Index is comprised of companies in
developed markets outside of the U.S. and Canada that pay regular cash dividends and
that WisdomTree Investments classifies as being part of the International Real Estate
sector.
The WisdomTree International Sector Indexes, which encompass Basic Materials, Energy
and Utilities, are derived from the WisdomTree DEFA Index, and measure the
performance of dividend-paying companies in developed markets outside the U.S. and
Canada, within their specific international sectors.
The WisdomTree International SmallCap Dividend Index is comprised of the smallcapitalization segment of the dividend-paying market in the industrialized world outside
the U.S. and Canada.
34 WisdomTree International Dividend and Sector Funds
Description of Indexes (unaudited) (concluded)
The WisdomTree Japan Dividend Index is comprised of dividend-paying companies
incorporated in Japan, listed on the Tokyo Stock Exchange and that meet other
requirements necessary to be included in the WisdomTree DEFA Index.
The WisdomTree Japan Equity Income Index is comprised of companies with high
dividend yields selected from the WisdomTree Japan Dividend Index.
The WisdomTree Japan Hedged Equity Index is designed to provide exposure to
Japanese equity markets while at the same time neutralizing exposure to fluctuations of
the Japanese Yen movements relative to the U.S. dollar. This index is based on the
WisdomTree Japan Dividend Index.
The WisdomTree Japan Hedged SmallCap Equity Index is designed to provide exposure
to the small capitalization segment of the Japanese equity markets while at the same time
neutralizing exposure to fluctuations of the Japanese Yen movements relative to the U.S.
dollar.
The WisdomTree Japan SmallCap Dividend Index is comprised of dividend-paying small
capitalization companies in Japan.
The WisdomTree Korea Hedged Equity Index is designed to provide exposure to Korean
equity markets while at the same time neutralizing exposure to fluctuations of the Korean
Won movements relative to the U.S. dollar.
The WisdomTree Middle East Dividend Index is comprised of companies in the Middle
East region that pay regular cash dividends on shares of common stock and that meet
specified requirements as of the index measurement date.
The WisdomTree Pacific ex-Japan Dividend Index is comprised of dividend-paying
companies incorporated in the Pacific region, excluding Japan.
The WisdomTree Pacific ex-Japan Equity Income Index is comprised of companies with
high dividend yields selected from the WisdomTree Pacific ex-Japan Dividend Index.
The WisdomTree United Kingdom Hedged Equity Index is designed to provide exposure
to United Kingdom equity markets while at the same time neutralizing exposure to
fluctuations of the British Pound movements relative to the U.S. dollar.
Index performance information assumes the reinvestment of net dividends and excludes
management fees, transaction costs and expenses. You cannot directly invest in an index.
The Dow Jones Global ex-U.S. Select Real Estate Securities Index is calculated, distributed and
marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC, and has
been licensed for use.
The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property
and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s (“S&P”), a division of The
McGraw-Hill Companies, Inc. and is licensed for use by WisdomTree Investments, Inc. Neither
MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS
classifications makes any express or implied warranties or representations with respect to such
standard or classification (or the results to be obtained by the use thereof), and all such parties hereby
expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for
a particular purpose with respect to any such standard or classification. Without limiting any of the
foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making
or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special,
punitive, consequential or any other damages (including lost profits) even if notified of the possibility
of such damages.
Neither MSCI nor any other party involved in or related to compiling, computing or creating the
MSCI data makes any express or implied warranties or representations with respect to such data (or
the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all
warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose
with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of
its affiliates or any third party involved in or related to compiling, computing or creating the data
have any liability for any direct, indirect, special, punitive, consequential or any other damages
(including lost profits) even if notified of the possibility of such damages. No further distribution or
dissemination of the MSCI data is permitted without MSCI’s express written consent.
WisdomTree International Dividend and Sector Funds 35
Shareholder Expense Examples (unaudited)
As a shareholder of a WisdomTree Fund, you incur two types of costs: (1) transaction
costs, including brokerage commissions on purchases and sales of your Fund shares and
(2) ongoing costs, including management fees and other Fund expenses. The following
example is intended to help you understand your ongoing costs (in dollars and cents) of
investing in a Fund and to compare these costs with the ongoing costs of investing in
other funds.
The example is based on an investment of $1,000 invested at the beginning of the period
and held for the entire period from October 1, 2013 to March 31, 2014.
Actual expenses
The first line under each Fund in the table on the next page provides information about
actual account values and actual expenses. You may use the information in this line,
together with the amount you invested, to estimate the expenses that you paid over the
period. Simply divide your account value by $1,000 (for example, an $8,600 account value
divided by $1,000 = 8.6), then multiply the result by the number in the first line for your
Fund under the heading entitled “Expenses Paid During the Period 10/01/13 to
3/31/14” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes
The second line under each Fund in the table on the next page provides information
about hypothetical account values and hypothetical expenses based on each Fund's actual
expense ratio and an assumed rate of return of 5% per year before expenses, which is not
the Fund's actual return. The hypothetical account values and expenses may not be used
to estimate the actual ending account balance or expenses you paid for the period. You
may use this information to compare the ongoing costs of investing in your Fund and
other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical
examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing
costs only and do not reflect any transactional costs, such as brokerage commissions paid
on purchases and sales of Fund shares. Therefore, the second line under each Fund in
the table is useful in comparing ongoing Fund costs only and will not help you determine
the relative total costs of owning different funds. In addition, if these transactional costs
were included, your costs would have been higher.
36 WisdomTree International Dividend and Sector Funds
Shareholder Expense Examples (unaudited) (continued)
Annualized
Expense Ratio Expenses Paid
Based on the
During the
Beginning
Ending
Period
Period†
Account Value Account Value 10/01/13 to 10/01/13 to
10/01/13
3/31/14
3/31/14
3/31/14
WisdomTree DEFA Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,079.40
$1,022.54
0.48%
0.48%
$2.49
$2.42
WisdomTree DEFA Equity Income Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,089.60
$1,022.04
0.58%
0.58%
$3.02
$2.92
WisdomTree Global Equity Income Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,063.70
$1,022.04
0.58%
0.58%
$2.98
$2.92
WisdomTree Europe SmallCap Dividend Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,241.40
$1,022.04
0.58%
0.58%
$3.24
$2.92
WisdomTree Japan Hedged Equity Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,017.40
$1,022.54
0.48%
0.48%
$2.41
$2.42
WisdomTree Global ex-U.S. Dividend Growth Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,049.70
$1,022.04
0.58%
0.58%
$2.96
$2.92
WisdomTree Japan SmallCap Dividend Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$ 992.00
$1,022.04
0.58%
0.58%
$2.88
$2.92
WisdomTree Asia Pacific ex-Japan Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$ 994.50
$1,022.54
0.48%
0.48%
$2.39
$2.42
WisdomTree Australia Dividend Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,028.50
$1,022.04
0.58%
0.58%
$2.93
$2.92
WisdomTree International LargeCap Dividend Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,075.40
$1,022.54
0.48%
0.48%
$2.48
$2.42
WisdomTree International Dividend ex-Financials Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,099.20
$1,022.04
0.58%
0.58%
$3.04
$2.92
WisdomTree International MidCap Dividend Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,080.50
$1,022.04
0.58%
0.58%
$3.01
$2.92
WisdomTree International SmallCap Dividend Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,095.70
$1,022.04
0.58%
0.58%
$3.03
$2.92
WisdomTree Emerging Markets Equity Income Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$ 960.60
$1,021.79
0.63%
0.63%
$3.08
$3.18
WisdomTree Emerging Markets SmallCap Dividend
Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,002.20
$1,021.79
0.63%
0.63%
$3.14
$3.18
WisdomTree Middle East Dividend Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,247.40
$1,020.54
0.88%
0.88%
$4.93
$4.43
WisdomTree Europe Hedged Equity Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,068.50
$1,022.04
0.58%
0.58%
$2.99
$2.92
WisdomTree International Dividend and Sector Funds 37
Shareholder Expense Examples (unaudited) (concluded)
Annualized
Expense Ratio Expense Paid
Based on the
During the
Beginning
Ending
Period
Period†
Account Value Account Value 10/01/13 to 10/01/13 to
10/01/13
3/31/14
3/31/14
3/31/14
WisdomTree Commodity Country Equity Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,013.50
$1,022.04
0.58%
0.58%
$2.91
$2.92
WisdomTree Global Natural Resources Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,018.30
$1,022.04
0.58%
0.58%
$2.92
$2.92
WisdomTree Global ex-U.S. Utilities Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,082.70
$1,022.04
0.58%
0.58%
$3.01
$2.92
WisdomTree Global ex-U.S. Real Estate Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$ 995.20
$1,022.04
0.58%
0.58%
$2.89
$2.92
WisdomTree China Dividend ex-Financials Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$ 984.20
$1,021.79
0.63%
0.63%
$3.12
$3.18
WisdomTree United Kingdom Hedged Equity Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,050.60
$1,022.54
0.48%
0.48%
$2.45
$2.42
WisdomTree Japan Hedged SmallCap Equity Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,036.80
$1,022.04
0.58%
0.58%
$2.95
$2.92
WisdomTree Emerging Markets Dividend Growth Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,012.80
$1,021.79
0.63%
0.63%
$3.16
$3.18
WisdomTree Emerging Markets Consumer Growth Fund
Actual
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,004.20
$1,021.79
0.63%
0.63%
$3.15
$3.18
WisdomTree Germany Hedged Equity Fund
Actual1
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$1,078.80
$1,022.54
0.48%
0.48%
$2.27
$2.42
WisdomTree Korea Hedged Equity Fund
Actual2
Hypothetical (5% return before expenses)
$1,000.00
$1,000.00
$ 940.30
$1,022.04
0.58%
0.58%
$2.24
$2.92
† Expenses are calculated using each Fund’s annualized expense ratio, multiplied by the average account value for the
period, multiplied by 182/365 (to reflect one-half year period).
1
Fund commenced operations on October 17, 2013. Actual expenses are calculated using the Fund’s annualized expense
ratio, multiplied by the ending value for the period, multiplied by 166/365 (to reflect the period since commencement of
operations).
2
Fund commenced operations on November 7, 2013. Actual expenses are calculated using the Fund’s annualized expense
ratio, multiplied by the ending value for the period, multiplied by 145/365 (to reflect the period since commencement of
operations).
38 WisdomTree International Dividend and Sector Funds
Schedule of Investments
WisdomTree DEFA Fund (DWM)
March 31, 2014
Investments
COMMON STOCKS – 99.3%
Australia – 11.8%
Adelaide Brighton Ltd.
AGL Energy Ltd.
ALS Ltd./Queensland
Amalgamated Holdings Ltd.
Amcor Ltd.
AMP Ltd.
Arrium Ltd.
Aurizon Holdings Ltd.
Australia & New Zealand Banking Group Ltd.
Bank of Queensland Ltd.
Bendigo and Adelaide Bank Ltd.
BHP Billiton Ltd.
Boral Ltd.
Bradken Ltd.
Brambles Ltd.
Brickworks Ltd.
Caltex Australia Ltd.
Coca-Cola Amatil Ltd.
Cochlear Ltd.
Commonwealth Bank of Australia
Computershare Ltd.
Crown Resorts Ltd.
CSL Ltd.
CSR Ltd.
David Jones Ltd.
Envestra Ltd.
Flight Centre Travel Group Ltd.
GUD Holdings Ltd.
GWA Group Ltd.
Harvey Norman Holdings Ltd.
Iluka Resources Ltd.
Incitec Pivot Ltd.
Insurance Australia Group Ltd.
IOOF Holdings Ltd.
Iress Ltd.
JB Hi-Fi Ltd.
Leighton Holdings Ltd.
Lend Lease Group
Macquarie Group Ltd.
Metcash Ltd.
Mineral Resources Ltd.
Monadelphous Group Ltd.
Myer Holdings Ltd.
National Australia Bank Ltd.
Navitas Ltd.
New Hope Corp., Ltd.
Orica Ltd.
Origin Energy Ltd.
OZ Minerals Ltd.
Perpetual Ltd.
Platinum Asset Management Ltd.
QBE Insurance Group Ltd.
Shares
95,637
26,118
44,509
53,782
49,608
162,603
155,658
57,523
201,271
34,720
43,482
157,283
41,002
19,205
28,454
34,398
19,178
45,522
2,953
114,633
29,119
14,335
7,964
115,902
66,624
349,213
7,961
40,519
109,642
94,669
31,204
63,128
111,805
37,705
32,641
20,004
14,469
47,999
15,536
79,040
33,014
10,074
80,487
189,268
54,323
86,802
17,939
49,294
24,746
7,508
71,104
40,579
Value
$
355,451
367,469
302,386
433,676
477,724
750,529
194,767
274,040
6,167,279
413,516
458,629
5,316,516
214,715
77,609
244,210
452,721
392,653
465,379
156,008
8,227,816
326,566
220,953
513,453
377,057
200,689
364,127
387,306
204,675
296,735
289,555
286,611
173,190
577,199
309,280
259,573
347,638
283,098
527,181
834,166
191,937
351,277
156,956
166,357
6,220,503
367,550
240,553
363,794
652,884
81,652
347,940
491,635
482,169
Investments
Shares
Ramsay Health Care Ltd.
Rio Tinto Ltd.
Santos Ltd.
Seven West Media Ltd.
Sonic Healthcare Ltd.
Suncorp Group Ltd.
Sydney Airport
Tabcorp Holdings Ltd.
Tatts Group Ltd.
Telstra Corp., Ltd.
Toll Holdings Ltd.
Wesfarmers Ltd.
Westpac Banking Corp.
Woodside Petroleum Ltd.
Woolworths Ltd.
WorleyParsons Ltd.
Wotif.com Holdings Ltd.
10,081
15,988
30,915
161,445
22,422
71,261
159,535
91,990
146,677
1,012,527
55,346
77,714
245,167
43,540
76,279
9,839
26,547
Total Australia
Value
$
449,706
941,714
386,823
296,278
358,902
850,041
619,555
290,740
394,248
4,767,381
266,747
2,966,884
7,853,175
1,574,654
2,525,376
138,066
65,203
67,382,845
Austria – 0.5%
Andritz AG
Oesterreichische Post AG
OMV AG
Raiffeisen Bank International AG
Strabag SE
Telekom Austria AG
Verbund AG
Vienna Insurance Group AG Wiener Versicherung
Gruppe
Voestalpine AG
4,762
6,419
11,630
12,269
7,026
22,450
15,117
294,393
323,357
527,917
409,216
182,051
223,275
311,067
5,583
2,260
275,396
99,379
Total Austria
2,646,051
Belgium – 1.4%
Ageas
Anheuser-Busch InBev N.V.
Belgacom S.A.
Colruyt S.A.
Delhaize Group S.A.
Elia System Operator S.A./N.V.
EVS Broadcast Equipment S.A.
NV Bekaert S.A.
Solvay S.A.
UCB S.A.
Umicore S.A.
8,047
36,229
47,282
5,254
2,138
6,863
2,417
8,140
2,257
7,014
7,058
Total Belgium
358,731
3,799,871
1,481,232
289,653
156,322
346,812
156,668
331,969
354,465
561,849
359,827
8,197,399
Denmark – 1.0%
Carlsberg A/S Class B
Chr Hansen Holding A/S
Coloplast A/S Class B
D/S Norden A/S
FLSmidth & Co. A/S
H. Lundbeck A/S
Novo Nordisk A/S Class B
Novozymes A/S Class B
Pandora A/S
1,591
7,688
5,708
5,047
2,117
8,928
58,279
5,821
3,172
158,307
305,136
462,056
215,222
106,846
275,240
2,655,207
256,072
209,925
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 39
Schedule of Investments (continued)
WisdomTree DEFA Fund (DWM)
March 31, 2014
Investments
Shares
TDC A/S
Tryg A/S
67,063
4,620
Value
$
Total Denmark
Finland – 1.2%
Elisa Oyj*
Fortum Oyj
Kone Oyj Class B
Konecranes Oyj
Metso Oyj
Neste Oil Oyj
Nokian Renkaat Oyj
Orion Oyj Class B
Pohjola Bank PLC Class A
Sampo Class A
Sanoma Oyj
Stora Enso Oyj Class R
UPM-Kymmene Oyj
Wartsila Oyj Abp
YIT Oyj
5,721,393
12,334
56,033
12,780
6,494
7,090
18,558
3,804
11,645
19,618
20,619
33,200
42,450
40,304
4,159
7,824
Total Finland
France – 11.8%
Accor S.A.
Aeroports de Paris
Air Liquide S.A.
Alstom S.A.
Arkema S.A.
AXA S.A.
BNP Paribas S.A.
Bourbon S.A.
Bouygues S.A.
Bureau Veritas S.A.
Cap Gemini S.A.
Carrefour S.A.
Casino Guichard Perrachon S.A.
Christian Dior S.A.
Cie Generale des Etablissements Michelin
CNP Assurances
Compagnie de Saint-Gobain
Danone S.A.
Edenred
EDF S.A.
Eiffage S.A.
Essilor International S.A.
Euler Hermes S.A.
Eutelsat Communications S.A.
GDF Suez
Hermes International
Imerys S.A.
Kering
Klepierre
Lafarge S.A.
Lagardere SCA
Legrand S.A.
620,243
457,139
355,116
1,274,253
536,171
207,022
231,885
378,548
153,878
351,649
436,131
1,069,942
231,535
454,304
689,363
226,018
83,356
6,679,171
8,684
3,158
7,592
8,933
1,901
98,595
39,021
4,311
23,164
9,268
5,245
29,140
4,419
2,418
5,231
41,209
19,721
16,075
7,691
116,876
3,101
1,799
1,873
6,793
208,384
563
3,082
2,037
10,502
2,382
7,659
4,423
444,817
393,946
1,028,788
244,022
215,368
2,563,537
3,011,180
141,708
966,553
284,277
397,229
1,128,357
526,096
465,732
654,490
872,959
1,191,863
1,137,235
241,418
4,625,536
232,161
181,497
236,462
230,784
5,703,894
187,471
274,193
415,650
470,128
186,146
304,224
274,899
Investments
L’Oreal S.A.
LVMH Moet Hennessy Louis Vuitton S.A.
Metropole Television S.A.
Natixis
Neopost S.A.
Nexity S.A.
Orange S.A.
Pernod-Ricard S.A.
Publicis Groupe S.A.
Rallye S.A.
Renault S.A.
Rexel S.A.
Safran S.A.
Sanofi
Schneider Electric S.A.
SCOR SE
Societe BIC S.A.
Societe Generale S.A.
Societe Television Francaise 1
Sodexo
Suez Environnement Co.
Technip S.A.
Thales S.A.
Total S.A.
Unibail-Rodamco SE
Valeo S.A.
Vallourec S.A.
Veolia Environnement S.A.
Vinci S.A.
Vivendi S.A.
10,353
11,835
22,696
117,762
3,036
4,714
250,632
5,217
5,429
7,418
9,277
9,569
7,985
41,541
18,186
12,921
3,127
10,955
20,560
4,145
32,662
2,665
7,874
132,876
3,624
4,599
6,329
29,028
25,839
92,369
Total France
Germany – 8.6%
Adidas AG
Allianz SE
Axel Springer SE
BASF SE
Bayer AG
Bayerische Motoren Werke AG
Beiersdorf AG
Bilfinger SE
Brenntag AG
Celesio AG
Continental AG
Daimler AG
Deutsche Bank AG
Deutsche Boerse AG
Deutsche Post AG
Deutsche Telekom AG
E.ON SE
Fielmann AG
Fraport AG Frankfurt Airport Services Worldwide
Freenet AG*
Fresenius Medical Care AG & Co. KGaA
See Notes to Financial Statements.
40 WisdomTree International Dividend and Sector Funds
Shares
Value
$
1,708,001
2,152,313
493,923
865,250
239,848
202,254
3,703,047
607,583
490,703
346,589
901,926
251,174
553,458
4,332,973
1,612,923
452,332
410,938
674,988
340,042
434,919
663,767
275,147
522,323
8,717,287
941,515
648,119
343,727
574,512
1,919,875
2,574,158
67,188,234
3,798
15,852
3,159
28,446
17,315
21,259
4,420
3,904
1,468
7,907
4,578
46,518
16,950
7,235
37,562
318,502
152,865
3,640
3,180
17,538
4,370
411,125
2,680,751
202,260
3,163,115
2,343,006
2,684,485
431,304
495,507
272,433
270,375
1,097,244
4,397,539
758,659
576,061
1,396,232
5,149,180
2,989,636
489,291
237,637
613,600
305,062
Schedule of Investments (continued)
WisdomTree DEFA Fund (DWM)
March 31, 2014
Investments
Fresenius SE & Co. KGaA
GEA Group AG
Hannover Rueckversicherung AG
Henkel AG & Co. KGaA
Hugo Boss AG
Infineon Technologies AG
K+S AG
Kabel Deutschland Holding AG
Linde AG
MAN SE
Merck KGaA
MLP AG
Muenchener Rueckversicherungs AG
Rheinmetall AG
RWE AG
SAP AG
Siemens AG
SMA Solar Technology AG
Suedzucker AG
Symrise AG
Talanx AG
Telefonica Deutschland Holding AG
United Internet AG Registered Shares
Volkswagen AG
Wacker Chemie AG
Wincor Nixdorf AG
Shares
2,339
6,032
5,219
4,773
3,543
19,256
8,120
3,618
3,382
3,160
3,738
49,093
7,648
3,959
44,572
14,985
30,793
2,503
11,667
5,435
11,711
80,499
230
6,490
1,868
2,130
Total Germany
Hong Kong – 5.1%
AIA Group Ltd.
Bank of East Asia Ltd.
BOC Hong Kong Holdings Ltd.
Cheung Kong Holdings Ltd.
China Merchants Holdings International Co., Ltd.
China Mobile Ltd.
China Overseas Land & Investment Ltd.
China Resources Enterprise Ltd.
China Resources Power Holdings Co., Ltd.
China Unicom Hong Kong Ltd.
CITIC Pacific Ltd.
CLP Holdings Ltd.
CNOOC Ltd.
Fosun International Ltd.
Hang Lung Group Ltd.
Hang Lung Properties Ltd.
Hang Seng Bank Ltd.
Henderson Land Development Co., Ltd.
HKT Trust and HKT Ltd.
Hong Kong & China Gas Co., Ltd.
Hong Kong Exchanges and Clearing Ltd.
Hutchison Whampoa Ltd.
Hysan Development Co., Ltd.
Lenovo Group Ltd.
MTR Corp., Ltd.
$
Value
Investments
366,215
275,845
467,047
479,893
471,614
229,886
266,859
497,205
676,812
402,862
629,819
326,133
1,671,779
278,554
1,809,767
1,213,574
4,146,431
132,816
332,455
271,616
421,433
641,944
10,805
1,645,851
228,184
153,095
New World Development Co., Ltd.
PCCW Ltd.
Power Assets Holdings Ltd.
Shanghai Industrial Holdings Ltd.
Shenzhen Investment Ltd.
Shougang Fushan Resources Group Ltd.
Sino Land Co., Ltd.
Sino-Ocean Land Holdings Ltd.
Sinotruk Hong Kong Ltd.
SJM Holdings Ltd.
Sun Art Retail Group Ltd.
Sun Hung Kai Properties Ltd.
Swire Properties Ltd.
Television Broadcasts Ltd.
Wharf Holdings Ltd.
Wheelock & Co., Ltd.
49,012,996
129,565
71,258
488,944
62,000
113,431
880,981
201,175
37,812
166,000
393,588
183,000
88,500
1,570,700
258,000
24,000
103,000
87,300
49,500
418,025
185,244
16,400
107,000
102,000
235,003
172,000
614,666
278,343
1,393,012
1,027,865
389,702
8,063,587
521,283
106,752
432,278
517,542
324,618
667,425
2,360,996
324,286
120,819
296,105
1,389,903
288,753
440,818
404,062
248,631
1,416,634
443,790
259,632
636,376
Shares
232,000
445,088
81,500
46,000
480,000
732,698
232,400
282,000
155,000
205,760
174,500
98,000
141,000
45,800
89,000
87,000
Total Hong Kong
Ireland – 0.3%
CRH PLC
DCC PLC
Dragon Oil PLC
Kerry Group PLC Class A
Value
$
233,284
223,202
706,567
153,293
155,317
222,915
341,542
154,141
83,724
578,257
219,333
1,200,198
401,712
274,255
569,082
339,833
28,824,533
32,822
7,056
19,205
4,074
Total Ireland
913,559
383,487
175,756
311,127
1,783,929
Israel – 0.7%
Bezeq Israeli Telecommunication Corp., Ltd.
Clal Insurance Enterprise Holdings Ltd.*
Delek Automotive Systems Ltd.
Gazit-Globe Ltd.
Israel Chemicals Ltd.
Teva Pharmaceutical Industries Ltd.
456,914
14,070
22,391
19,557
90,414
27,952
Total Israel
813,115
278,808
236,346
252,157
789,858
1,442,389
3,812,673
Italy – 3.7%
A2A SpA
ACEA SpA
Assicurazioni Generali SpA
Atlantia SpA
Banca Generali SpA
Enel Green Power SpA
Enel SpA
Eni SpA
ERG SpA
Gtech SpA
Hera SpA
Intesa Sanpaolo SpA
Iren SpA
Luxottica Group SpA
MARR SpA
Mediolanum SpA
Parmalat SpA
Pirelli & C. SpA
Snam SpA
Societa Iniziative Autostradali e Servizi SpA
218,019
22,752
19,146
37,079
17,448
80,474
503,032
226,588
26,174
15,129
106,629
531,430
106,958
3,439
15,034
52,857
88,840
21,018
229,620
43,957
282,756
336,784
426,957
953,092
575,942
226,041
2,848,091
5,686,889
423,873
459,776
311,558
1,801,810
193,113
198,977
294,647
499,024
306,354
330,236
1,345,013
528,896
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 41
Schedule of Investments (continued)
WisdomTree DEFA Fund (DWM)
March 31, 2014
Investments
Telecom Italia SpA RSP
Terna Rete Elettrica Nazionale SpA
Tod’s SpA
UniCredit SpA
Unione di Banche Italiane SCPA
Shares
615,435
120,482
1,692
119,917
30,089
$
Total Italy
Japan – 10.7%
Aeon Co., Ltd.
Airport Facilities Co., Ltd.
Aisin Seiki Co., Ltd.
Ajinomoto Co., Inc.
ANA Holdings, Inc.
Aozora Bank Ltd.
Asahi Glass Co., Ltd.
Asahi Group Holdings Ltd.
Asahi Kasei Corp.
Astellas Pharma, Inc.
Azbil Corp.
Bank of Yokohama Ltd. (The)
Bridgestone Corp.
Brother Industries Ltd.
Canon, Inc.
Central Japan Railway Co.
Chiba Bank Ltd. (The)
Chugai Pharmaceutical Co., Ltd.
Chugoku Electric Power Co., Inc. (The)
Coca-Cola West Co., Ltd.
Dai Nippon Printing Co., Ltd.
Daihatsu Motor Co., Ltd.
Dai-ichi Life Insurance Co., Ltd. (The)
Daiichi Sankyo Co., Ltd.
Daikin Industries Ltd.
Dainippon Sumitomo Pharma Co., Ltd.
Daito Trust Construction Co., Ltd.
Daiwa House Industry Co., Ltd.
Daiwa Securities Group, Inc.
Denso Corp.
East Japan Railway Co.
Eisai Co., Ltd.
Electric Power Development Co., Ltd.
FANUC Corp.
Fast Retailing Co., Ltd.
Fuji Heavy Industries Ltd.
FUJIFILM Holdings Corp.
Higashi-Nippon Bank Ltd. (The)
Hino Motors Ltd.
Hitachi Chemical Co., Ltd.
Hitachi Ltd.
Hokuriku Electric Power Co.
Honda Motor Co., Ltd.
Hoya Corp.
Ibiden Co., Ltd.
Idemitsu Kosan Co., Ltd.
Value
Investments
575,944
645,619
219,791
1,095,777
283,656
Isuzu Motors Ltd.
ITOCHU Corp.
Japan Airlines Co., Ltd.
Japan Tobacco, Inc.
JFE Holdings, Inc.
JGC Corp.
JSR Corp.
JX Holdings, Inc.
Kajima Corp.
Kao Corp.
Kawasaki Heavy Industries Ltd.
KDDI Corp.
Keikyu Corp.
Kikkoman Corp.
Kintetsu Corp.
Kirin Holdings Co., Ltd.
Kokuyo Co., Ltd.
Komatsu Ltd.
Konami Corp.
Konica Minolta, Inc.
Kubota Corp.
Kuraray Co., Ltd.
Kyocera Corp.
Kyowa Hakko Kirin Co., Ltd.
Lawson, Inc.
LIXIL Group Corp.
Makita Corp.
Marubeni Corp.
Marui Group Co., Ltd.
Medipal Holdings Corp.
Mie Bank Ltd. (The)
Mitsubishi Chemical Holdings Corp.
Mitsubishi Corp.
Mitsubishi Electric Corp.
Mitsubishi Estate Co., Ltd.
Mitsubishi Heavy Industries Ltd.
Mitsubishi Tanabe Pharma Corp.
Mitsubishi UFJ Financial Group, Inc.
Mitsui & Co., Ltd.
Mitsui Chemicals, Inc.
Mitsui Fudosan Co., Ltd.
Mizuho Financial Group, Inc.
Morinaga & Co., Ltd.
MS&AD Insurance Group Holdings
Murata Manufacturing Co., Ltd.
Nidec Corp.
Nikon Corp.
Nippon Electric Glass Co., Ltd.
Nippon Express Co., Ltd.
Nippon Steel & Sumitomo Metal Corp.
Nippon Telegraph & Telephone Corp.
Nippon Yusen K.K.
Nissan Chemical Industries Ltd.
Nissan Motor Co., Ltd.
20,850,616
23,000
9,000
9,500
18,000
191,000
140,000
49,000
11,400
38,000
63,000
4,900
90,000
12,200
13,500
54,000
3,200
56,000
9,000
19,200
18,000
6,000
14,300
23,033
22,600
4,900
19,600
3,800
15,000
23,000
11,300
4,800
11,700
3,800
3,300
1,200
4,000
10,300
188,000
26,200
10,500
54,000
13,600
38,900
28,800
4,100
11,400
259,737
66,592
343,618
257,805
413,585
399,670
284,527
319,800
259,028
748,769
121,233
450,066
433,578
189,159
1,673,195
374,734
345,837
230,276
268,280
314,784
57,620
253,133
335,481
381,403
275,106
312,123
352,418
255,037
200,553
542,918
354,506
456,480
107,559
583,352
436,199
108,443
277,140
463,679
389,496
143,249
399,553
176,826
1,372,652
898,523
80,977
234,564
See Notes to Financial Statements.
42 WisdomTree International Dividend and Sector Funds
Shares
29,000
53,700
8,600
36,144
14,700
6,000
10,700
105,279
49,000
4,700
50,000
16,002
19,000
12,000
100,000
13,000
5,000
21,800
7,000
17,500
8,000
14,500
6,700
22,000
4,200
11,000
6,000
42,000
19,400
17,200
161,000
24,600
43,100
29,000
14,000
52,000
15,400
308,600
53,700
40,000
4,000
760,600
195,000
15,230
1,700
4,000
8,200
10,000
39,000
130,000
41,200
49,000
15,500
115,900
Value
$
166,985
628,851
424,217
1,137,122
277,342
209,157
198,758
508,071
172,239
166,897
184,493
928,562
160,509
226,868
356,363
180,512
36,656
452,575
162,111
163,640
106,190
166,141
302,715
234,986
297,713
303,986
330,339
282,624
166,714
263,549
361,130
102,475
801,860
327,213
332,514
301,442
215,781
1,699,045
760,774
98,267
122,309
1,506,650
427,926
349,602
160,698
243,880
132,334
51,561
191,241
355,974
2,247,927
142,739
233,136
1,035,374
Schedule of Investments (continued)
WisdomTree DEFA Fund (DWM)
March 31, 2014
Investments
Nisshin Seifun Group, Inc.
Nissin Foods Holdings Co., Ltd.
Nitto Denko Corp.
NKSJ Holdings, Inc.
Nomura Holdings, Inc.
Nomura Research Institute Ltd.
NSK Ltd.
NTT DOCOMO, Inc.
Odakyu Electric Railway Co., Ltd.
Oji Holdings Corp.
Oracle Corp.
Oriental Land Co., Ltd.
Osaka Gas Co., Ltd.
Park24 Co., Ltd.
Resona Holdings, Inc.
Ricoh Co., Ltd.
Ryosan Co., Ltd.
SAIBU GAS Co., Ltd.
Sankyo Co., Ltd.
Secom Co., Ltd.
Sega Sammy Holdings, Inc.
Sekisui House Ltd.
Seven & I Holdings Co., Ltd.
Shin-Etsu Chemical Co., Ltd.
Shionogi & Co., Ltd.
Shiseido Co., Ltd.
Shizuoka Bank Ltd. (The)
Showa Shell Sekiyu K.K.
SMC Corp.
SoftBank Corp.
Sony Corp.
Sony Financial Holdings, Inc.
Sumitomo Bakelite Co., Ltd.
Sumitomo Corp.
Sumitomo Electric Industries Ltd.
Sumitomo Metal Mining Co., Ltd.
Sumitomo Mitsui Financial Group, Inc.
Sumitomo Mitsui Trust Holdings, Inc.
Sumitomo Realty & Development Co., Ltd.
T&D Holdings, Inc.
Taisei Corp.
Takeda Pharmaceutical Co., Ltd.
TDK Corp.
Tokio Marine Holdings, Inc.
Tokyo Electron Ltd.
Tokyo Gas Co., Ltd.
TOKYU Corp.
TonenGeneral Sekiyu K.K.
Toppan Printing Co., Ltd.
TORAY INDUSTRIES, Inc.
Toshiba Corp.
Toyota Motor Corp.
Toyota Tsusho Corp.
Trend Micro, Inc.
Shares
550
4,900
5,200
18,200
31,400
300
14,000
163,755
28,000
44,000
2,800
1,900
49,000
12,500
88,800
29,400
4,900
49,000
4,400
1,600
11,500
23,800
13,100
5,100
4,100
10,700
35,000
27,100
1,000
9,800
18,300
11,978
48,000
41,000
19,200
17,000
38,300
80,070
5,000
22,600
54,000
29,100
3,200
9,300
4,700
49,000
6,000
6,000
36,000
33,000
44,000
52,600
13,800
10,000
$
Value
Investments
Shares
6,056
221,484
249,535
468,674
201,843
9,497
144,371
2,588,660
241,705
197,388
127,106
289,654
186,037
238,141
430,268
339,719
103,676
124,183
185,639
92,379
258,174
296,041
501,689
292,079
76,160
188,680
342,234
242,620
264,359
742,244
350,416
196,561
185,037
522,727
286,364
213,934
1,639,702
362,311
196,242
269,264
241,725
1,382,310
133,922
279,763
288,659
249,318
36,763
53,076
258,329
218,537
186,707
2,975,653
351,080
310,239
USS Co., Ltd.
West Japan Railway Co.
Yahoo! Japan Corp.
Yakult Honsha Co., Ltd.
Yamato Holdings Co., Ltd.
24,260
2,720
43,310
4,000
19,500
Total Japan
Value
$
341,338
111,299
212,797
201,194
421,110
60,728,672
Netherlands – 1.9%
Aegon N.V.
Airbus Group N.V.
Akzo Nobel N.V.
ASML Holding N.V.
Delta Lloyd N.V.
Fugro N.V.
Heineken Holding N.V.
Heineken N.V.
Kas Bank N.V.
Koninklijke Ahold N.V.
Koninklijke Boskalis Westminster N.V.
Koninklijke DSM N.V.
Koninklijke Philips N.V.
Randstad Holding N.V.
Reed Elsevier N.V.
STMicroelectronics N.V.
Unilever N.V.
Wolters Kluwer N.V.
Ziggo N.V.
71,029
9,628
6,851
995
20,079
3,135
6,804
10,164
33,536
31,132
5,374
5,674
25,959
7,327
33,867
23,694
50,219
15,240
10,007
Total Netherlands
New Zealand – 0.3%
Auckland International Airport Ltd.*
Fisher & Paykel Healthcare Corp., Ltd.
Fletcher Building Ltd.
Sky Network Television Ltd.
Telecom Corp. of New Zealand Ltd.
Vector Ltd.
10,898,743
92,241
94,646
20,161
56,361
175,934
177,630
Total New Zealand
Norway – 1.7%
Aker ASA Class A
Aker Solutions ASA
Atea ASA
DNB ASA
Fred Olsen Energy ASA
Gjensidige Forsikring ASA
Norsk Hydro ASA
Orkla ASA
SpareBank 1 SMN
Statoil ASA
Telenor ASA
Yara International ASA
652,279
689,896
559,273
92,196
556,937
192,859
439,482
707,711
463,596
625,594
296,046
389,563
912,517
429,234
732,131
219,450
2,065,009
430,173
444,797
304,960
349,049
166,550
305,670
372,507
374,556
1,873,292
8,931
18,155
16,644
30,573
3,936
37,719
81,628
56,567
27,678
153,636
69,461
18,534
Total Norway
288,648
282,769
182,785
531,589
131,484
767,352
406,978
482,332
248,485
4,336,774
1,539,568
819,117
10,017,881
Portugal – 0.5%
EDP-Energias de Portugal S.A.
Galp Energia, SGPS, S.A.
274,528
10,295
1,275,479
177,860
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 43
Schedule of Investments (continued)
WisdomTree DEFA Fund (DWM)
March 31, 2014
Investments
Shares
Jeronimo Martins, SGPS, S.A.
Mota-Engil, SGPS, S.A.
Portugal Telecom, SGPS, S.A.
Sonae
ZON OPTIMUS, SGPS, S.A.
13,235
2,416
83,213
311,334
5,906
Value
$
Total Portugal
Singapore – 2.1%
CitySpring Infrastructure Trust
ComfortDelGro Corp., Ltd.
DBS Group Holdings Ltd.
Global Premium Hotels Ltd.
Hutchison Port Holdings Trust Class U
Jardine Cycle & Carriage Ltd.
Keppel Corp., Ltd.
Keppel Land Ltd.
K-Green Trust
M1 Ltd.
Oversea-Chinese Banking Corp., Ltd.
Saizen REIT
SATS Ltd.
Sembcorp Industries Ltd.
SembCorp Marine Ltd.
Singapore Airlines Ltd.
Singapore Exchange Ltd.
Singapore Post Ltd.
Singapore Press Holdings Ltd.
Singapore Technologies Engineering Ltd.
Singapore Telecommunications Ltd.
StarHub Ltd.
Tiong Seng Holdings Ltd.
United Overseas Bank Ltd.
Venture Corp., Ltd.
Wilmar International Ltd.
2,680,889
285,960
293,000
63,000
2,003,000
605,036
11,000
147,100
117,000
910,414
166,000
130,000
233,930
43,000
49,000
6,000
11,000
48,000
389,000
29,000
111,000
627,000
111,000
1,501,000
48,000
28,000
137,000
Total Singapore
Spain – 5.4%
Abertis Infraestructuras, S.A.
Acerinox S.A.
ACS Actividades de Construccion y
Servicios, S.A.
Amadeus IT Holding S.A. Class A
Atresmedia Corp de Medios de
Comunicaion S.A.*
Banco Bilbao Vizcaya Argentaria S.A.
Banco de Sabadell S.A.
Banco Santander S.A.
Bolsas y Mercados Espanoles S.A.
CaixaBank
Duro Felguera S.A.
Enagas S.A.
Ferrovial S.A.
Gas Natural SDG S.A.
Iberdrola S.A.
Inditex S.A.
222,177
19,646
354,043
585,287
46,397
106,876
462,491
810,075
525,617
393,273
396,509
1,273,841
312,608
752,917
458,049
983,102
165,558
103,948
213,916
19,323
91,583
264,896
420,691
96,855
337,180
1,819,848
370,721
232,750
826,369
166,101
376,939
11,982,036
34,280
16,922
783,109
271,943
17,776
11,767
698,611
488,969
3,369
312,107
85,318
1,181,524
10,814
385,371
22,822
12,883
72,345
52,211
246,585
10,755
51,866
3,750,147
263,636
11,270,398
440,201
2,480,412
156,328
391,963
1,567,931
1,468,699
1,725,107
1,614,233
Investments
Indra Sistemas S.A.
Mapfre S.A.
Obrascon Huarte Lain S.A.
Red Electrica Corp. S.A.
Repsol S.A.
Tecnicas Reunidas S.A.
Zardoya Otis S.A.
13,505
122,223
10,296
4,943
39,307
3,345
27,207
Total Spain
Sweden – 3.9%
Alfa Laval AB
Assa Abloy AB Class B
Atlas Copco AB Class A
Atlas Copco AB Class B
Axfood AB
Axis Communications AB
BillerudKorsnas AB
Boliden AB
Electrolux AB Series B
Fabege AB
Getinge AB Class B
Hennes & Mauritz AB Class B
Hexagon AB Class B
Husqvarna AB Class B
Investment AB Latour Class B
NCC AB Class B
Nordea Bank AB
Peab AB
Ratos AB Class B
Sandvik AB
Scania AB Class B
Securitas AB Class B
Skandinaviska Enskilda Banken AB Class A
Skanska AB Class B
SKF AB Class B
Svenska Cellulosa AB Class B
Svenska Handelsbanken AB Class A
Swedbank AB Class A
Swedish Match AB
Tele2 AB Class B
Telefonaktiebolaget LM Ericsson Class B
TeliaSonera AB
Trelleborg AB Class B
Volvo AB Class A
Volvo AB Class B
Switzerland – 7.2%
ABB Ltd.*
Actelion Ltd.*
Adecco S.A.*
Baloise Holding AG
Cie Financiere Richemont S.A.
Clariant AG*
Geberit AG
Value
$
271,474
515,469
447,709
401,949
1,003,589
189,043
463,476
30,716,262
14,713
817
14,114
17,494
9,039
5,251
26,328
27,326
14,117
22,246
12,294
70,793
13,601
28,720
18,329
9,659
147,245
64,555
17,255
36,057
12,050
26,462
70,257
26,316
13,931
8,762
20,815
51,088
8,117
48,286
108,198
231,694
24,922
41,008
10,823
Total Sweden
See Notes to Financial Statements.
44 WisdomTree International Dividend and Sector Funds
Shares
397,351
43,424
406,426
478,123
499,103
179,473
363,436
414,723
307,443
289,589
343,778
3,013,607
461,300
200,221
553,244
348,904
2,084,829
455,421
159,681
508,581
353,496
305,901
962,796
618,980
356,034
257,446
1,042,749
1,368,692
264,785
598,031
1,438,513
1,743,901
502,011
659,690
171,604
22,153,286
64,567
4,929
6,969
8,585
4,408
26,473
1,579
1,666,528
467,037
580,257
1,080,718
421,164
514,865
517,485
Schedule of Investments (continued)
WisdomTree DEFA Fund (DWM)
March 31, 2014
Investments
Givaudan S.A.*
Helvetia Holding AG
Holcim Ltd.*
Julius Baer Group Ltd.*
Kuehne + Nagel International AG
Logitech International S.A.
Nestle S.A.
Novartis AG
Partners Group Holding AG
Roche Holding AG
Roche Holding AG – Genusschein
Schindler Holding AG Participating Shares
Sulzer AG
Swatch Group AG (The)
Swiss Life Holding AG*
Swiss Re AG*
Swisscom AG
Syngenta AG
UBS AG*
Zurich Insurance Group AG*
Shares
316
942
5,351
9,950
3,151
31,958
99,300
84,258
189
5,635
19,587
2,737
1,375
3,984
2,327
35,485
2,299
2,294
30,070
9,009
Total Switzerland
United Kingdom – 19.5%
Aberdeen Asset Management PLC
Admiral Group PLC
AMEC PLC
Amlin PLC
Anglo American PLC
Antofagasta PLC
ARM Holdings PLC
Ashmore Group PLC
Associated British Foods PLC
AstraZeneca PLC
Aviva PLC
Babcock International Group PLC
BAE Systems PLC
Balfour Beatty PLC
Barclays PLC
Berendsen PLC
BG Group PLC
BHP Billiton PLC
BP PLC
British American Tobacco PLC
British Land Co. PLC
British Sky Broadcasting Group PLC
BT Group PLC
Burberry Group PLC
Cable & Wireless Communications PLC
Capita PLC
Carillion PLC
Carnival PLC
Centrica PLC
Close Brothers Group PLC
Compass Group PLC
$
Value
Investments
489,016
482,810
443,418
441,884
441,251
477,552
7,481,083
7,153,846
53,147
1,682,494
5,875,989
403,726
189,124
462,286
571,641
3,292,009
1,413,208
868,154
621,586
2,767,921
Croda International PLC
Daily Mail & General Trust PLC Class A
Darty PLC
De La Rue PLC
Diageo PLC
Direct Line Insurance Group PLC
Drax Group PLC
easyJet PLC
Electrocomponents PLC
Fidessa Group PLC
Fresnillo PLC
G4S PLC
GKN PLC
GlaxoSmithKline PLC
Halfords Group PLC
Hammerson PLC
Hays PLC
HSBC Holdings PLC
ICAP PLC
IG Group Holdings PLC
IMI PLC
Imperial Tobacco Group PLC
Inchcape PLC
Inmarsat PLC
InterContinental Hotels Group PLC
Intertek Group PLC
Investec PLC
ITV PLC
J. Sainsbury PLC
John Wood Group PLC
Johnson Matthey PLC
Kingfisher PLC
Ladbrokes PLC
Legal & General Group PLC
London Stock Exchange Group PLC
Man Group PLC
Marks & Spencer Group PLC
Marston’s PLC
Meggitt PLC
Melrose Industries PLC
Mondi PLC
Moneysupermarket.com Group PLC
N. Brown Group PLC
National Grid PLC
Next PLC
Old Mutual PLC
Pearson PLC
Premier Farnell PLC
Prudential PLC
Reckitt Benckiser Group PLC
Reed Elsevier PLC
Rexam PLC
Rio Tinto PLC
Royal Dutch Shell PLC Class A
40,860,199
35,720
4,522
20,698
66,291
57,074
22,846
17,042
43,780
12,604
72,031
153,466
30,262
140,197
113,237
333,369
28,379
58,624
92,950
1,003,109
79,130
12,104
70,257
246,352
14,353
55,721
22,659
37,674
4,965
200,537
26,803
29,488
232,426
107,655
387,165
535,234
1,452,479
318,223
283,547
242,247
584,365
4,655,153
1,220,409
679,579
968,107
565,594
1,297,182
528,949
1,092,189
2,857,492
8,027,200
4,400,245
131,972
1,069,387
1,558,628
333,804
48,863
414,024
227,114
189,056
1,102,270
630,947
449,822
Shares
8,529
25,405
108,615
26,644
62,217
118,538
45,999
14,054
39,790
7,664
32,141
58,405
61,828
226,298
28,568
35,852
186,005
832,095
36,424
28,870
3,553
47,383
32,446
18,124
2,730
4,628
28,487
183,974
96,390
25,544
6,771
76,948
75,563
241,227
18,457
301,939
77,751
10,709
35,003
84,632
19,332
106,493
32,240
182,842
2,114
178,347
31,260
33,718
65,704
26,261
20,519
31,551
57,665
201,489
Value
$
362,019
368,056
212,766
361,797
1,930,324
469,349
587,424
401,827
187,731
324,153
451,980
235,148
402,308
6,004,296
219,942
331,129
449,642
8,427,406
229,295
302,020
86,363
1,914,039
349,437
219,515
87,704
237,022
230,242
587,354
507,962
326,632
369,239
540,588
170,066
823,225
606,181
509,418
585,246
25,709
280,047
418,909
338,086
332,177
307,175
2,505,662
232,607
597,933
553,984
131,482
1,389,495
2,139,579
313,348
256,058
3,208,546
7,359,841
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 45
Schedule of Investments (concluded)
WisdomTree DEFA Fund (DWM)
March 31, 2014
Investments
Royal Dutch Shell PLC Class B
SABMiller PLC
Sage Group PLC (The)
Segro PLC
Severn Trent PLC
Smith & Nephew PLC
Smiths Group PLC
SSE PLC
Standard Chartered PLC
Standard Life PLC
TalkTalk Telecom Group PLC
Tate & Lyle PLC
Tesco PLC
TUI Travel PLC
Tullow Oil PLC
Unilever PLC
United Utilities Group PLC
Vedanta Resources PLC
Vodafone Group PLC
Weir Group PLC (The)
WH Smith PLC
Whitbread PLC
William Hill PLC
WM Morrison Supermarkets PLC
Shares
118,859
29,106
57,493
86,815
13,763
18,588
16,631
49,438
85,844
87,259
77,966
4,376
344,539
25,859
8,584
34,556
41,038
14,670
1,545,599
9,815
21,976
7,406
54,265
93,123
Value
$
4,637,836
1,453,296
400,747
480,516
418,287
281,690
352,679
1,210,758
1,793,944
549,164
416,329
48,697
1,696,772
188,825
107,116
1,475,393
539,122
220,603
5,676,571
414,968
440,747
513,879
308,496
330,683
Total United Kingdom
111,347,928
TOTAL COMMON STOCKS
(Cost: $462,090,479)
565,359,028
EXCHANGE-TRADED FUNDS – 0.1%
United States – 0.1%
WisdomTree International Dividend
ex-Financials Fund(a)
(Cost: $524,128)
11,082
545,678
RIGHTS – 0.0%
Hong Kong – 0.0%
New World Development Co., Ltd.,
expiring 5/17/14*
77,333
15,951
Portugal – 0.0%
Mota-Engil Africa SGPS, S.A., expiring
5/01/14*†
2,392
1,319
Spain – 0.0%
Banco Bilbao Vizcaya Argentaria S.A.,
expiring 5/14/14*
312,107
73,127
TOTAL RIGHTS
(Cost: $73,564)
90,397
TOTAL INVESTMENTS IN SECURITIES – 99.4%
(Cost: $462,688,171)
Cash, Foreign Currency and Other Assets in
Excess of Liabilities – 0.6%
NET ASSETS – 100.0%
565,995,103
3,192,555
$569,187,658
RSP – Risparmio Italian Savings Shares
*
Non-income producing security.
†
Security is being fair valued by a valuation committee under the direction of the
Board of Trustees. The aggregate value of fair valued securities is $1,319, which
represents 0.0% of net assets.
(a) Affiliated company (See Note 7).
See Notes to Financial Statements.
46 WisdomTree International Dividend and Sector Funds
Schedule of Investments
WisdomTree DEFA Equity Income Fund (DTH)
March 31, 2014
Investments
COMMON STOCKS – 99.5%
Australia – 16.3%
Adelaide Brighton Ltd.
AGL Energy Ltd.
ALS Ltd./Queensland
Amcor Ltd.
AMP Ltd.
Arrium Ltd.
Ausdrill Ltd.
Australia & New Zealand Banking Group Ltd.
Bank of Queensland Ltd.
Bendigo and Adelaide Bank Ltd.
BHP Billiton Ltd.
Bradken Ltd.
Brickworks Ltd.
Cabcharge Australia Ltd.
Coca-Cola Amatil Ltd.
Cochlear Ltd.
Commonwealth Bank of Australia
Crown Resorts Ltd.
David Jones Ltd.
DuluxGroup Ltd.
Envestra Ltd.
Fairfax Media Ltd.
Flight Centre Travel Group Ltd.
GrainCorp Ltd. Class A
Grange Resources Ltd.
GUD Holdings Ltd.
GWA Group Ltd.
Harvey Norman Holdings Ltd.
Iluka Resources Ltd.
Incitec Pivot Ltd.
Insurance Australia Group Ltd.
IOOF Holdings Ltd.
Iress Ltd.
JB Hi-Fi Ltd.
Leighton Holdings Ltd.
Lend Lease Group
Macquarie Group Ltd.
Metcash Ltd.
Monadelphous Group Ltd.
Mount Gibson Iron Ltd.
Myer Holdings Ltd.
National Australia Bank Ltd.
New Hope Corp., Ltd.
Northern Star Resources Ltd.
NRW Holdings Ltd.
Orica Ltd.
Origin Energy Ltd.
OZ Minerals Ltd.
Platinum Asset Management Ltd.
Primary Health Care Ltd.
QBE Insurance Group Ltd.
Resolute Mining Ltd.*
Shares
41,650
26,019
13,228
47,451
126,422
108,063
93,862
147,602
21,388
20,894
138,331
34,881
16,796
30,400
38,360
1,896
84,344
24,469
62,107
26,915
141,990
149,357
5,074
8,882
421,985
26,012
47,799
69,630
15,593
86,580
84,030
20,359
22,841
6,967
17,182
18,813
11,316
59,483
6,725
245,081
55,571
142,358
29,337
51,637
116,093
16,390
50,987
46,701
29,825
23,656
29,921
144,170
Value
$
154,799
366,077
89,868
456,952
583,528
135,214
69,597
4,522,771
254,732
220,381
4,675,896
140,956
221,057
114,114
392,160
100,167
6,053,814
377,153
187,083
142,942
148,054
126,665
246,852
69,316
101,690
131,395
129,363
212,971
143,223
237,530
433,810
166,997
181,640
121,076
336,180
206,626
607,584
144,445
104,778
206,710
114,858
4,678,753
81,301
54,081
114,057
332,381
675,307
154,094
206,219
103,269
355,528
79,506
Investments
Shares
Rio Tinto Ltd.
SAI Global Ltd.
Seven West Media Ltd.
Sonic Healthcare Ltd.
Suncorp Group Ltd.
Super Retail Group Ltd.
Sydney Airport
Tabcorp Holdings Ltd.
Tatts Group Ltd.
Telstra Corp., Ltd.
Toll Holdings Ltd.
Wesfarmers Ltd.
Westpac Banking Corp.
Woodside Petroleum Ltd.
Woolworths Ltd.
WorleyParsons Ltd.
Wotif.com Holdings Ltd.
15,315
37,654
67,358
15,490
48,590
10,845
123,736
86,405
133,505
903,198
40,441
62,809
179,831
36,603
59,990
10,953
38,894
Total Australia
902,074
143,088
123,613
247,944
579,609
110,971
480,529
273,088
358,843
4,252,617
194,910
2,397,857
5,760,336
1,323,773
1,986,094
153,698
95,530
49,650,094
Austria – 0.4%
EVN AG
Oesterreichische Post AG
OMV AG
Raiffeisen Bank International AG
Verbund AG
14,878
3,230
9,678
5,642
9,111
Total Austria
209,567
162,711
439,310
188,181
187,480
1,187,249
Belgium – 0.6%
Ageas
Belgacom S.A.
Cofinimmo
EVS Broadcast Equipment S.A.
6,663
34,747
2,001
1,441
Total Belgium
297,033
1,088,541
238,529
93,404
1,717,507
Denmark – 0.3%
TDC A/S
Tryg A/S
83,012
2,658
Total Denmark
767,750
263,003
1,030,753
Finland – 1.6%
Elisa Oyj*
Fortum Oyj
Kemira Oyj
Kesko Oyj Class B
Metso Oyj
Neste Oil Oyj
Nokian Renkaat Oyj
Orion Oyj Class B
Pohjola Bank PLC Class A
Sampo Class A
Sanoma Oyj
Stora Enso Oyj Class R
Tikkurila Oyj
UPM-Kymmene Oyj
Uponor Oyj
Total Finland
Value
$
12,611
47,777
12,117
3,902
8,899
7,177
3,842
4,224
9,402
17,614
12,847
25,197
7,900
33,363
6,013
363,091
1,086,502
176,689
170,319
291,050
146,397
155,415
127,554
209,017
914,010
89,594
269,661
186,188
570,643
109,643
4,865,773
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 47
Schedule of Investments (continued)
WisdomTree DEFA Equity Income Fund (DTH)
March 31, 2014
Investments
France – 13.5%
AXA S.A.
BNP Paribas S.A.
Bourbon S.A.
Bouygues S.A.
Carrefour S.A.
Casino Guichard Perrachon S.A.
Cie Generale des Etablissements Michelin
CNP Assurances
Compagnie de Saint-Gobain
EDF S.A.
Eiffage S.A.
Euler Hermes S.A.
Eutelsat Communications S.A.
GDF Suez
Klepierre
Lagardere SCA
Metropole Television S.A.
Neopost S.A.
Nexity S.A.
Orange S.A.
Rallye S.A.
Rexel S.A.
Sanofi
SCOR SE
Societe Television Francaise 1
Suez Environnement Co.
Total S.A.
Unibail-Rodamco SE
Veolia Environnement S.A.
Vinci S.A.
Vivendi S.A.
Shares
70,415
28,379
3,799
21,732
27,219
3,724
5,951
29,687
18,440
105,151
2,374
2,090
6,290
184,980
8,270
5,711
18,198
1,646
3,356
220,544
5,103
10,966
36,456
3,520
11,231
28,658
116,045
2,880
33,512
21,796
70,605
Value
$
Total France
Germany – 9.0%
Allianz SE
Axel Springer SE
BASF SE
Comdirect Bank AG
Daimler AG
Deutsche Boerse AG
Deutsche Post AG
Deutsche Telekom AG
Drillisch AG
E.ON SE
Freenet AG*
Hannover Rueckversicherung AG
Hugo Boss AG
K+S AG
Muenchener Rueckversicherungs AG
RWE AG
Siemens AG
Talanx AG
Telefonica Deutschland Holding AG
1,830,838
2,189,956
124,878
906,800
1,053,972
443,354
744,574
628,880
1,114,444
4,161,502
177,733
263,858
213,696
5,063,279
370,211
226,848
396,035
130,036
143,989
3,258,501
238,426
287,844
3,802,577
123,227
185,749
582,396
7,613,095
748,224
663,258
1,619,474
1,967,635
41,275,289
11,871
4,217
26,561
17,629
41,485
6,189
38,240
279,149
6,272
135,177
9,974
4,889
2,454
5,465
5,816
35,559
27,387
10,024
78,980
Total Germany
2,007,519
270,000
2,953,508
210,608
3,921,749
492,777
1,421,434
4,512,965
227,693
2,643,706
348,959
437,515
326,655
179,604
1,271,322
1,443,810
3,687,796
360,725
629,830
27,348,175
Investments
Hong Kong – 4.7%
BOC Hong Kong Holdings Ltd.
China Mobile Ltd.
China Power International Development Ltd.
CITIC Pacific Ltd.
CLP Holdings Ltd.
CNOOC Ltd.
Far East Horizon Ltd.
Hang Seng Bank Ltd.
HKT Trust and HKT Ltd.
Hopewell Holdings Ltd.
New World Development Co., Ltd.
PCCW Ltd.
Power Assets Holdings Ltd.
Shanghai Industrial Holdings Ltd.
Shenzhen Investment Ltd.
Shougang Fushan Resources Group Ltd.
Sino Land Co., Ltd.
Sino-Ocean Land Holdings Ltd.
Television Broadcasts Ltd.
385,047
754,500
286,000
151,000
74,500
1,312,000
153,000
65,818
260,736
41,500
152,000
302,380
72,018
34,000
398,000
566,952
154,000
295,000
22,400
Total Hong Kong
Ireland – 0.3%
CRH PLC
Israel – 0.5%
Bezeq The Israeli Telecommunication Corp., Ltd.
Israel Chemicals Ltd.
Italy – 4.1%
ACEA SpA
Atlantia SpA
Banca Generali SpA
Enel SpA
Eni SpA
ERG SpA
GTECH SpA
Hera SpA
MARR SpA
Mediolanum SpA
Pirelli & C SpA
Recordati SpA
Snam SpA
Societa Iniziative Autostradali e Servizi SpA
Telecom Italia SpA RSP
Terna Rete Elettrica Nazionale SpA
Unipol Gruppo Finanziario SpA
$
1,097,007
6,905,911
99,179
267,854
561,844
1,972,131
112,427
1,047,888
274,953
142,577
152,842
151,637
624,362
113,303
128,784
172,489
226,323
161,247
134,134
27,471
764,621
384,162
88,377
683,647
772,063
1,455,710
13,616
33,311
4,655
447,372
197,555
11,711
4,027
70,971
7,630
15,545
14,281
9,528
190,089
40,763
329,042
100,687
19,343
Total Italy
Japan – 3.6%
Aozora Bank Ltd.
Asahi Glass Co., Ltd.
Asahi Holdings, Inc.
Canon, Inc.
Chugoku Electric Power Co., Inc. (The)
Value
14,346,892
Total Israel
See Notes to Financial Statements.
48 WisdomTree International Dividend and Sector Funds
Shares
201,549
856,238
153,657
2,532,953
4,958,221
189,653
122,382
207,369
149,538
146,761
224,384
166,776
1,113,458
490,465
307,928
539,545
151,159
12,512,036
62,000
30,000
3,100
41,700
10,200
176,997
174,200
50,420
1,292,078
142,524
Schedule of Investments (continued)
WisdomTree DEFA Equity Income Fund (DTH)
March 31, 2014
Investments
Dai Nippon Printing Co., Ltd.
Daiichi Sankyo Co., Ltd.
Daito Trust Construction Co., Ltd.
Eisai Co., Ltd.
Hokuriku Electric Power Co.
ITOCHU Corp.
Japan Airlines Co., Ltd.
Mitsui & Co., Ltd.
Nippon Telegraph & Telephone Corp.
NTT DOCOMO, Inc.
Shiseido Co., Ltd.
Sumitomo Corp.
Takeda Pharmaceutical Co., Ltd.
TonenGeneral Sekiyu K.K.
Shares
28,000
24,200
2,200
9,900
8,000
46,800
5,800
53,400
33,100
143,300
10,200
41,300
25,100
14,000
Total Japan
Netherlands – 1.5%
Aegon N.V.
Corbion N.V.
Delta Lloyd N.V.
Fugro N.V.
Koninklijke Ahold N.V.
Koninklijke Boskalis Westminster N.V.
Koninklijke Philips N.V.
Randstad Holding N.V.
Reed Elsevier N.V.
STMicroelectronics N.V.
Wolters Kluwer N.V.
Ziggo N.V.
49,423
4,148
9,210
2,679
31,181
4,593
28,076
5,445
24,147
30,861
10,459
7,322
67,894
39,773
28,378
31,168
37,079
189,499
97,096
Portucel S.A.
Portugal Telecom, SGPS, S.A.
Sonae
ZON OPTIMUS, SGPS, S.A.
453,865
97,932
255,460
164,807
626,578
253,022
986,935
318,982
522,006
285,830
295,222
325,452
224,466
146,680
234,430
169,038
126,449
401,228
204,740
1,507,031
5,520
11,078
30,226
4,555
28,522
47,201
142,424
66,815
3,130
10,834
Total Norway
Portugal – 0.7%
EDP-Energias de Portugal S.A.
Investments
268,894
408,405
204,032
386,252
104,015
548,049
286,100
756,524
1,805,980
2,265,305
179,863
526,551
1,192,302
123,843
4,586,091
Total New Zealand
Norway – 2.5%
Aker ASA Class A
Aker Solutions ASA
Austevoll Seafood ASA
Fred Olsen Energy ASA
Gjensidige Forsikring ASA
Orkla ASA
Statoil ASA
Telenor ASA
TGS Nopec Geophysical Co. ASA
Yara International ASA
Value
10,892,334
Total Netherlands
New Zealand – 0.5%
Auckland International Airport Ltd.
Fisher & Paykel Healthcare Corp., Ltd.
Fletcher Building Ltd.
Sky Network Television Ltd.
SKYCITY Entertainment Group Ltd.
Telecom Corp. of New Zealand Ltd.
Vector Ltd.
$
178,405
172,543
179,224
152,162
580,249
402,471
4,020,286
1,480,921
102,625
478,813
7,747,699
229,984
1,068,524
Shares
56,964
77,300
104,640
20,942
Total Portugal
Value
$
259,320
328,885
196,716
164,521
2,017,966
Singapore – 1.6%
Hutchison Port Holdings Trust Class U
Keppel Corp., Ltd.
Keppel Land Ltd.
M1 Ltd.
SATS Ltd.
SIA Engineering Co., Ltd.
Singapore Exchange Ltd.
Singapore Post Ltd.
Singapore Press Holdings Ltd.
Singapore Technologies Engineering Ltd.
Singapore Telecommunications Ltd.
SMRT Corp., Ltd.
StarHub Ltd.
Venture Corpo. Ltd.
554,323
78,000
40,000
40,000
80,000
48,000
33,000
222,000
89,000
130,000
590,000
143,000
87,000
20,000
Total Singapore
Spain – 6.6%
Abertis Infraestructuras, S.A.
ACS Actividades de Construccion y Servicios, S.A.
Banco Bilbao Vizcaya Argentaria S.A.
Banco Santander S.A.
Bolsas y Mercados Espanoles S.A.
CaixaBank
Caja de Ahorros del Mediterraneo*†
Duro Felguera S.A.
Enagas S.A.
Ferrovial S.A.
Gas Natural SDG S.A.
Iberdrola S.A.
Indra Sistemas S.A.
Mapfre S.A.
Red Electrica Corp. S.A.
Tecnicas Reunidas S.A.
Zardoya Otis S.A.
360,310
675,456
106,875
110,373
193,392
184,740
182,116
240,086
297,245
394,895
1,712,457
115,987
290,565
118,643
4,983,140
36,282
15,073
219,446
852,344
6,463
269,306
6,353
26,542
10,949
56,020
45,347
210,829
9,235
93,037
5,576
2,178
14,584
Total Spain
828,844
592,381
2,636,771
8,130,394
263,087
1,733,368
11,733
181,810
333,122
1,214,120
1,275,614
1,474,959
185,640
392,378
453,422
123,090
248,441
20,079,174
Sweden – 4.0%
Atlas Copco AB Class B
Axfood AB
Bilia AB Class A
BillerudKorsnas AB
Boliden AB
Castellum AB
Electrolux AB Series B
Fabege AB
Hennes & Mauritz AB Class B
Intrum Justitia AB
Loomis AB Class B
Nordea Bank AB
10,044
3,913
4,607
12,384
13,584
13,525
10,855
19,012
55,173
5,775
5,739
105,241
274,509
216,063
147,443
170,951
206,162
224,459
236,402
247,490
2,348,674
157,300
147,380
1,490,098
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 49
Schedule of Investments (continued)
WisdomTree DEFA Equity Income Fund (DTH)
March 31, 2014
Investments
Peab AB
Ratos AB Class B
Sandvik AB
Scania AB Class B
Securitas AB Class B
Skanska AB Class B
Swedbank AB Class A
Tele2 AB Class B
Telefonaktiebolaget LM Ericsson Class B
TeliaSonera AB
Shares
36,067
19,540
35,015
12,474
15,266
17,376
41,322
30,585
88,794
225,754
$
Total Sweden
Switzerland – 4.5%
Allreal Holding AG*
Baloise Holding AG
Clariant AG*
Logitech International S.A.
Mobilezone Holding AG
Novartis AG
Panalpina Welttransport Holding AG
Swiss Re AG*
Swisscom AG
Zurich Insurance Group AG*
Investments
254,445
180,827
493,884
365,934
176,475
408,702
1,107,053
378,801
1,180,533
1,699,192
ICAP PLC
IG Group Holdings PLC
Imperial Tobacco Group PLC
Inmarsat PLC
Interserve PLC
Investec PLC
J. Sainsbury PLC
Kier Group PLC
Ladbrokes PLC
Laird PLC
Legal & General Group PLC
Man Group PLC
Marks & Spencer Group PLC
Marston’s PLC
Micro Focus International PLC
N. Brown Group PLC
National Grid PLC
Old Mutual PLC
Pearson PLC
Pennon Group PLC
Premier Farnell PLC
Reed Elsevier PLC
Rio Tinto PLC
Royal Dutch Shell PLC Class B
Sage Group PLC (The)
Segro PLC
Severn Trent PLC
SSE PLC
Standard Chartered PLC
Standard Life PLC
TalkTalk Telecom Group PLC
Tate & Lyle PLC
Tesco PLC
TUI Travel PLC
Tullett Prebon PLC
Unilever PLC
United Utilities Group PLC
Vedanta Resources PLC
Vodafone Group PLC
WM Morrison Supermarkets PLC
WS Atkins PLC
12,112,777
1,387
2,527
11,569
19,635
16,720
74,795
1,014
26,328
2,267
6,717
Total Switzerland
United Kingdom – 22.7%
Admiral Group PLC
African Barrick Gold PLC
AMEC PLC
Amlin PLC
Anglo American PLC
Ashmore Group PLC
AstraZeneca PLC
Aviva PLC
BAE Systems PLC
Balfour Beatty PLC
BBA Aviation PLC
Berendsen PLC
BHP Billiton PLC
BP PLC
British American Tobacco PLC
British Land Co. PLC
British Sky Broadcasting Group PLC
Britvic PLC
Cable & Wireless Communications PLC
Carillion PLC
Centrica PLC
Drax Group PLC
Electrocomponents PLC
Fresnillo PLC
G4S PLC
GlaxoSmithKline PLC
Greene King PLC
Halfords Group PLC
HSBC Holdings PLC
Value
200,195
318,110
225,002
293,408
185,304
6,350,399
155,885
2,442,497
1,393,537
2,063,728
13,628,065
8,376
36,628
8,919
30,035
47,283
18,667
62,785
117,393
160,114
30,081
24,394
10,949
78,154
881,454
67,442
22,044
53,076
12,806
177,849
42,589
207,450
20,776
38,632
14,124
37,478
200,440
11,826
23,548
596,097
199,407
160,905
166,834
242,503
1,203,307
103,290
4,057,611
933,545
1,105,641
150,248
134,938
204,076
2,402,630
7,053,678
3,750,301
240,349
807,874
158,413
155,959
256,744
1,140,268
265,317
182,267
198,617
150,893
5,318,213
178,033
181,294
6,037,233
43,343
17,057
40,268
16,506
15,998
35,197
79,117
6,958
43,452
35,822
211,066
227,905
63,797
46,138
14,183
14,627
177,820
150,192
27,769
10,335
54,406
42,614
47,682
149,719
51,391
37,292
10,110
43,705
68,051
74,431
31,737
8,472
303,005
35,363
24,924
36,828
31,528
7,755
1,358,152
87,567
8,156
Total United Kingdom
EXCHANGE-TRADED FUNDS – 0.0%
United States – 0.0%
WisdomTree International LargeCap Dividend
Fund(a)
(Cost: $83,587)
RIGHTS – 0.0%
Hong Kong – 0.0%
New World Development Co., Ltd.,
expiring 5/17/14*
Value
$
272,851
178,440
1,626,628
199,918
194,699
284,474
416,936
191,864
97,795
179,341
720,296
384,511
480,212
110,763
196,373
139,363
2,436,841
503,540
492,117
127,933
212,154
650,762
2,653,081
5,841,983
358,213
206,409
307,265
1,070,354
1,422,111
468,431
169,472
94,278
1,492,227
258,225
117,135
1,572,398
414,188
116,617
4,988,128
310,953
189,138
69,288,805
TOTAL COMMON STOCKS
(Cost: $252,474,369)
See Notes to Financial Statements.
50 WisdomTree International Dividend and Sector Funds
Shares
302,997,181
1,720
89,234
50,666
10,450
Schedule of Investments (concluded)
WisdomTree DEFA Equity Income Fund (DTH)
March 31, 2014
Investments
Spain – 0.0%
Banco Bilbao Vizcaya Argentaria S.A.,
expiring 5/14/14*
TOTAL RIGHTS
(Cost: $50,812)
TOTAL INVESTMENTS IN SECURITIES – 99.5%
(Cost: $252,608,768)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.5%
NET ASSETS – 100.0%
Shares
219,446
Value
$
51,417
61,867
303,148,282
1,604,430
$304,752,712
RSP – Risparmio Italian Savings Shares
*
Non-income producing security.
†
Security is being fair valued by a valuation committee under the direction of the
Board of Trustees. The aggregate value of fair valued securities is $11,733, which
represents 0.0% of net assets.
(a) Affiliated company (See Note 7).
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 51
Schedule of Investments
WisdomTree Global Equity Income Fund (DEW)
March 31, 2014
Investments
COMMON STOCKS – 99.5%
Australia – 8.8%
Adelaide Brighton Ltd.
AGL Energy Ltd.
ALS Ltd./Queensland
Amcor Ltd.
AMP Ltd.
Australia & New Zealand Banking Group Ltd.
BHP Billiton Ltd.
Brambles Ltd.
Coca-Cola Amatil Ltd.
Commonwealth Bank of Australia
Crown Resorts Ltd.
Iluka Resources Ltd.
Leighton Holdings Ltd.
Macquarie Group Ltd.
National Australia Bank Ltd.
New Hope Corp., Ltd.
Origin Energy Ltd.
QBE Insurance Group Ltd.
Rio Tinto Ltd.
Santos Ltd.
Seven West Media Ltd.
Sonic Healthcare Ltd.
Suncorp Group Ltd.
Sydney Airport
Tatts Group Ltd.
Telstra Corp., Ltd.
Wesfarmers Ltd.
Westpac Banking Corp.
Woodside Petroleum Ltd.
Woolworths Ltd.
WorleyParsons Ltd.
Shares
7,968
6,230
4,494
12,247
20,046
37,478
30,847
15,117
10,036
21,617
10,647
5,166
3,966
3,934
34,977
12,184
11,267
4,635
3,987
7,055
18,355
5,946
14,652
4,168
38,086
232,048
16,126
44,320
6,948
14,600
3,775
Value
$
Total Australia
Austria – 0.4%
EVN AG
Lenzing AG
Oesterreichische Post AG
OMV AG
Raiffeisen Bank International AG
Verbund AG
Voestalpine AG
10,882,063
4,427
489
1,581
3,225
2,141
3,822
1,255
Total Austria
Belgium – 0.2%
Belgacom S.A.
Elia System Operator S.A.
62,358
26,959
79,643
146,391
71,410
78,646
55,186
520,593
4,215
2,982
Total Belgium
Brazil – 2.0%
Banco do Brasil S.A.
Banco Santander Brasil S.A.
BM&F Bovespa S.A.
Centrais Eletricas Brasileiras S.A.
Cia Energetica de Minas Gerais
29,614
87,654
30,531
117,938
92,527
1,148,388
1,042,697
129,744
102,600
1,551,566
164,108
47,450
77,598
211,226
1,149,558
33,765
149,228
55,074
234,840
88,276
33,684
95,176
174,777
16,186
102,370
1,092,575
615,642
1,419,656
251,279
483,363
52,973
132,046
150,691
282,737
29,800
19,100
11,300
20,700
11,463
301,104
106,398
56,337
60,545
79,756
Investments
Cia Siderurgica Nacional S.A.
Cia. Hering
CPFL Energia S.A.
EDP – Energias do Brasil S.A.
Itau Unibanco Holding S.A.
Multiplus S.A.
Natura Cosmeticos S.A.
Porto Seguro S.A.
Souza Cruz S.A.
Telefonica Brasil S.A.
Tim Participacoes S.A.
Tractebel Energia S.A.
Transmissora Alianca de Energia Eletrica S.A.
Vale S.A.
26,300
3,260
17,000
7,500
14,000
3,000
3,900
3,600
11,500
6,100
27,800
10,200
6,800
47,400
Total Brazil
Canada – 5.2%
ARC Resources Ltd.
Bank of Montreal
Bank of Nova Scotia
Barrick Gold Corp.
Baytex Energy Corp.
BCE, Inc.
Bell Aliant, Inc.
Canadian Imperial Bank of Commerce
CI Financial Corp.
Crescent Point Energy Corp.
Emera, Inc.
Encana Corp.
First Capital Realty, Inc.
Fortis, Inc.
Great-West Lifeco, Inc.
Husky Energy, Inc.
IGM Financial, Inc.
Manitoba Telecom Services, Inc.
Manulife Financial Corp.
National Bank of Canada
Pembina Pipeline Corp.
Pengrowth Energy Corp.
Penn West Petroleum Ltd.
Power Corp. of Canada
Power Financial Corp.
Rogers Communications, Inc. Class B
Royal Bank of Canada
Shaw Communications, Inc. Class B
Sun Life Financial, Inc.
Teck Resources Ltd. Class B
Thomson Reuters Corp.
Toronto-Dominion Bank (The)
TransCanada Corp.
Chile – 0.3%
Banco de Chile
Banco Santander Chile
Value
$
114,687
39,556
140,129
34,234
198,103
33,237
65,884
50,813
104,986
112,187
145,992
158,662
58,010
660,008
2,520,628
1,817
5,166
8,426
9,600
2,765
6,849
4,852
2,921
4,076
5,576
1,839
5,424
3,974
3,100
7,268
6,643
3,681
1,330
16,363
2,210
3,734
20,471
7,085
2,113
6,499
4,894
11,312
4,391
5,567
5,500
8,670
9,200
5,672
Total Canada
See Notes to Financial Statements.
52 WisdomTree International Dividend and Sector Funds
Shares
50,127
346,163
488,803
171,169
114,032
295,492
118,866
252,073
128,770
203,843
57,332
116,023
63,188
88,527
200,640
199,576
173,887
36,535
316,067
88,700
142,019
124,078
59,312
57,853
201,550
203,120
747,028
105,026
193,073
118,895
296,842
432,014
258,227
6,448,850
1,066,151
2,237,891
133,574
130,436
Schedule of Investments (continued)
WisdomTree Global Equity Income Fund (DEW)
March 31, 2014
Investments
Corpbanca
ENTEL Chile S.A.
Shares
5,788,812
5,264
Total Chile
China – 3.0%
Agricultural Bank of China Ltd. Class H
Bank of China Ltd. Class H
China BlueChemical Ltd. Class H
China CITIC Bank Corp., Ltd. Class H
China Coal Energy Co., Ltd. Class H
China Communications Construction Co., Ltd.
Class H
China Construction Bank Corp. Class H
China Merchants Bank Co., Ltd. Class H
China Petroleum & Chemical Corp. Class H
China Shenhua Energy Co., Ltd. Class H
Guangzhou R&F Properties Co., Ltd. Class H
Industrial & Commercial Bank of China, Ltd.
Class H
Jiangxi Copper Co., Ltd. Class H
PetroChina Co., Ltd. Class H
Yanzhou Coal Mining Co., Ltd. Class H
Zhaojin Mining Industry Co., Ltd. Class H
309,000
639,366
76,000
82,000
140,000
134,641
283,538
39,190
47,253
78,870
105,000
2,338,405
50,960
290,000
46,500
44,800
73,230
1,636,903
92,367
259,454
134,278
64,569
894,215
40,000
132,000
132,000
51,500
549,875
67,242
143,792
99,889
30,739
3,735,830
4,302
808
Total Czech Republic
Denmark – 0.1%
TDC A/S
Finland – 0.8%
Elisa Oyj*
Fortum Oyj
Kesko Oyj Class B
Nokian Renkaat Oyj
Sampo Class A
Stora Enso Oyj Class R
UPM-Kymmene Oyj
YIT Oyj
123,417
193,236
316,653
20,084
185,750
5,443
9,176
1,764
1,008
6,264
7,992
5,345
3,091
156,713
208,673
76,997
40,775
325,046
85,531
91,421
32,931
Total Finland
France – 7.8%
AXA S.A.
BNP Paribas S.A.
Carrefour S.A.
Casino Guichard Perrachon S.A.
Cie Generale des Etablissements Michelin
CNP Assurances
Compagnie de Saint-Gobain
EDF S.A.
Eiffage S.A.
Euler Hermes S.A.
Eutelsat Communications S.A.
GDF Suez
67,785
64,066
395,861
Total China
Czech Republic – 0.3%
CEZ AS
Komercni Banka AS
Value
$
1,018,087
23,749
6,532
6,499
1,644
2,003
8,645
5,665
21,689
582
923
1,937
36,560
617,490
504,063
251,654
195,724
250,610
183,133
342,371
858,373
43,572
116,527
65,807
1,000,722
Investments
Shares
Imerys S.A.
Klepierre
Neopost S.A.
Orange S.A.
Rexel S.A.
Sanofi
Schneider Electric S.A.
Societe Television Francaise 1
Total S.A.
Unibail-Rodamco SE
Veolia Environnement S.A.
Vinci S.A.
Vivendi S.A.
612
4,067
587
46,125
2,103
9,466
4,512
2,343
25,893
633
3,932
6,068
14,190
Total France
Value
$
54,447
182,062
46,374
681,489
55,201
987,360
400,171
38,751
1,698,702
164,453
77,821
450,861
395,450
9,663,188
Germany – 5.5%
Allianz SE
BASF SE
Bayerische Motoren Werke AG
Bilfinger SE
Daimler AG
Deutsche Boerse AG
Deutsche Post AG
Deutsche Telekom AG
E.ON SE
K+S AG
Muenchener Rueckversicherungs AG
RWE AG
Siemens AG
Telefonica Deutschland Holding AG
3,521
7,046
4,617
927
9,176
1,897
12,294
58,959
25,514
2,445
1,924
6,096
7,060
16,382
Total Germany
595,441
783,495
583,013
117,658
867,445
151,042
456,985
953,182
498,987
80,353
420,568
247,517
950,664
130,639
6,836,989
Hong Kong – 2.9%
BOC Hong Kong Holdings Ltd.
China Mobile Ltd.
CITIC Pacific Ltd.
CLP Holdings Ltd.
CNOOC Ltd.
Far East Horizon Ltd.
Hang Seng Bank Ltd.
Hopewell Holdings Ltd.
Power Assets Holdings Ltd.
Shanghai Industrial Holdings Ltd.
Shougang Fushan Resources Group Ltd.
Sino Land Co., Ltd.
Sun Hung Kai Properties Ltd.
112,673
172,532
85,000
23,000
277,000
63,000
15,100
24,000
20,000
21,000
72,000
60,000
18,000
Total Hong Kong
Indonesia – 0.4%
PT Indo Tambangraya Megah Tbk
PT Perusahaan Gas Negara Persero Tbk
PT Semen Indonesia Persero Tbk
PT Tambang Batubara Bukit Asam Persero Tbk
PT Telekomunikasi Indonesia Persero Tbk
PT United Tractors Tbk
Total Indonesia
321,008
1,579,179
150,779
173,455
416,372
46,293
240,407
82,454
173,391
69,982
21,905
88,178
220,445
3,583,848
19,000
203,000
26,500
50,500
802,435
48,500
40,726
91,582
36,857
41,454
156,461
88,589
455,669
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 53
Schedule of Investments (continued)
WisdomTree Global Equity Income Fund (DEW)
March 31, 2014
Investments
Ireland – 0.2%
CRH PLC
Dragon Oil PLC
Shares
5,555
5,154
Value
$
Total Ireland
Israel – 0.2%
Bezeq The Israeli Telecommunication Corp., Ltd.
Israel Chemicals Ltd.
201,784
63,631
11,924
Total Israel
Italy – 2.4%
Atlantia SpA
Enel SpA
Eni SpA
Hera SpA
Intesa Sanpaolo SpA
Mediolanum SpA
Pirelli & C. SpA
Snam SpA
Societa Iniziative Autostradali e Servizi SpA
Terna Rete Elettrica Nazionale SpA
7,847
97,952
43,462
30,651
47,355
9,664
4,446
60,387
8,264
39,102
201,702
554,589
1,090,806
89,559
160,557
91,238
69,856
353,721
99,433
209,533
2,920,994
11,000
9,000
8,300
3,000
5,000
500
1,900
1,400
3,400
15,000
900
28,100
12,000
10,200
6,700
136,900
8,900
29,600
3,200
9,500
4,300
5,000
Total Japan
Malaysia – 0.9%
Axiata Group Bhd
British American Tobacco Malaysia Bhd
DiGi.Com Bhd
Kuala Lumpur Kepong Bhd
Malayan Banking Bhd
Maxis Bhd
Petronas Chemicals Group Bhd
113,237
104,168
217,405
Total Italy
Japan – 2.5%
Aozora Bank Ltd.
Asahi Glass Co., Ltd.
Canon, Inc.
Chugoku Electric Power Co., Inc. (The)
Dai Nippon Printing Co., Ltd.
Daito Trust Construction Co., Ltd.
Eisai Co., Ltd.
Hokuriku Electric Power Co.
Hoya Corp.
ITOCHU Corp.
Japan Airlines Co., Ltd.
JX Holdings, Inc.
Marubeni Corp.
Mitsubishi Corp.
Mitsui & Co., Ltd.
Mizuho Financial Group, Inc.
Nippon Telegraph & Telephone Corp.
NTT DOCOMO, Inc.
Shiseido Co., Ltd.
Sumitomo Corp.
Takeda Pharmaceutical Co., Ltd.
TonenGeneral Sekiyu K.K.
154,617
47,167
31,402
52,260
257,176
41,919
48,017
46,371
74,129
18,203
106,076
175,657
44,395
135,609
80,749
189,767
94,920
271,181
485,596
467,920
56,428
121,119
204,259
44,230
3,047,383
36,800
6,200
97,400
6,300
104,500
113,400
38,400
75,166
112,248
160,767
46,688
309,772
241,698
81,257
Investments
Shares
Sime Darby Bhd
Telekom Malaysia Bhd
20,800
29,600
Total Malaysia
59,301
53,390
1,140,287
Mexico – 0.0%
Alpek S.A. de C.V.
24,100
42,978
Netherlands – 1.3%
Aegon N.V.
Akzo Nobel N.V.
Delta Lloyd N.V.
Fugro N.V.
Koninklijke Ahold N.V.
Koninklijke DSM N.V.
Koninklijke Philips N.V.
Randstad Holding N.V.
Reed Elsevier N.V.
STMicroelectronics N.V.
Unilever N.V.
Ziggo N.V.
10,793
410
5,356
1,089
3,096
410
8,598
2,314
10,264
12,341
6,959
1,677
99,115
33,470
148,561
66,993
62,214
28,150
302,239
135,560
221,885
114,300
286,155
74,540
Total Netherlands
New Zealand – 0.2%
Auckland International Airport Ltd.*
Fletcher Building Ltd.
Telecom Corp. of New Zealand Ltd.
Vector Ltd.
1,573,182
20,155
9,193
45,298
9,830
Total New Zealand
Norway – 1.3%
Aker Solutions ASA
Gjensidige Forsikring ASA
Statoil ASA
Telenor ASA
Yara International ASA
Philippines – 0.2%
Aboitiz Power Corp.
Philippine Long Distance Telephone Co.
3,992
9,247
27,982
17,055
3,532
68,800
2,425
Total Portugal
57,071
147,625
204,696
1,122
7,072
37,150
35,732
8,544
1,085
41,751
57,895
Total Poland
Portugal – 0.3%
EDP-Energias de Portugal S.A.
Portucel S.A.
Portugal Telecom, SGPS, S.A.
62,177
188,120
789,864
378,016
156,098
1,574,275
Total Philippines
Poland – 0.9%
Bank Pekao S.A.
KGHM Polska Miedz S.A.
Orange Polska S.A.
PGE S.A.
Powszechna Kasa Oszczednosci Bank Polski S.A.
Powszechny Zaklad Ubezpieczen S.A.
Synthos S.A.
Tauron Polska Energia S.A.
66,635
75,943
95,910
20,728
259,216
Total Norway
See Notes to Financial Statements.
54 WisdomTree International Dividend and Sector Funds
Value
$
73,007
254,895
127,260
223,517
120,126
154,236
67,434
100,599
1,121,074
55,862
13,458
9,990
259,539
61,266
42,504
363,309
Schedule of Investments (continued)
WisdomTree Global Equity Income Fund (DEW)
March 31, 2014
Investments
Russia – 3.0%
Gazprom Neft JSC ADR
Gazprom OAO ADR
Lukoil OAO ADR
MegaFon OAO GDR
MMC Norilsk Nickel OJSC ADR
Mobile Telesystems OJSC ADR
Phosagro OAO Reg S GDR
Rosneft Oil Co. Reg S GDR
Tatneft ADR
Uralkali OJSC Reg S GDR
Shares
15,343
117,607
8,390
6,706
29,706
10,461
4,595
120,062
3,834
4,989
Total Russia
Singapore – 1.3%
DBS Group Holdings Ltd.
Hutchison Port Holdings Trust Class U
Jardine Cycle & Carriage Ltd.
Keppel Corp., Ltd.
Keppel Land Ltd.
Oversea-Chinese Banking Corp., Ltd.
SIA Engineering Co., Ltd.
Singapore Press Holdings Ltd.
Singapore Technologies Engineering Ltd.
Singapore Telecommunications Ltd.
StarHub Ltd.
United Overseas Bank Ltd.
14,000
137,827
2,000
15,800
26,000
4,000
20,000
41,000
45,000
161,000
32,000
3,000
5,472
34,801
5,079
1,859
3,057
16,149
5,650
11,713
25,065
5,070
4,494
6,239
22,065
180,017
89,588
72,093
136,823
69,468
30,249
76,975
136,933
136,694
467,298
106,874
51,648
72,836
119,445
51,742
33,317
109,865
330,952
120,350
53,409
137,122
284,193
51,922
45,823
272,700
1,683,676
6,780
6,480
4,920
1,029
981
Total South Korea
Spain – 4.0%
Abertis Infraestructuras, S.A.
ACS Actividades de Construccion y Servicios, S.A.
Banco Bilbao Vizcaya Argentaria S.A.
316,066
906,054
466,148
188,774
494,011
182,963
51,234
799,493
131,353
118,389
1,554,660
Total South Africa
South Korea – 0.4%
Hanwha Life Insurance Co., Ltd.
Industrial Bank of Korea
KT Corp.
KT&G Corp.
SK Telecom Co., Ltd.
$
3,654,485
Total Singapore
South Africa – 1.4%
Exxaro Resources Ltd.
FirstRand Ltd.
Foschini Group Ltd. (The)
Imperial Holdings Ltd.
Kumba Iron Ore Ltd.
MTN Group Ltd.
Nedbank Group Ltd.
RMB Holdings Ltd.
Sanlam Ltd.
Sasol Ltd.
Spar Group Ltd. (The)
Truworths International Ltd.
Vodacom Group Ltd.
Value
44,459
82,183
136,583
77,336
198,606
539,167
10,286
2,949
28,654
234,978
115,898
344,295
Investments
Shares
Banco de Sabadell S.A.
Banco Santander S.A.
CaixaBank
Ebro Foods S.A.
Enagas S.A.
Ferrovial S.A.
Gas Natural SDG S.A.
Iberdrola S.A.
Indra Sistemas S.A.
Mapfre S.A.
Red Electrica Corp. S.A.
Repsol S.A.
Tecnicas Reunidas S.A.
Zardoya Otis S.A.
25,724
208,214
77,527
1,856
2,219
8,598
9,488
57,960
2,662
39,153
1,728
11,180
522
3,336
Total Spain
Value
$
79,488
1,986,125
498,997
42,949
67,513
186,344
266,898
405,488
53,511
165,126
140,515
285,449
29,501
56,829
4,959,904
Sweden – 2.5%
Electrolux AB Series B
Hennes & Mauritz AB Class B
Nordea Bank AB
Sandvik AB
Skandinaviska Enskilda Banken AB Class A
Skanska AB Class B
SKF AB Class B
Svenska Handelsbanken AB Class A
Swedbank AB Class A
Swedish Match AB
Telefonaktiebolaget LM Ericsson Class B
TeliaSonera AB
4,997
13,837
32,324
9,521
19,927
8,280
2,315
5,324
9,874
1,388
24,763
47,478
Total Sweden
108,826
589,031
457,672
134,293
273,078
194,754
59,164
266,711
264,533
45,278
329,229
357,355
3,079,924
Switzerland – 5.0%
ABB Ltd.*
Adecco S.A.*
Clariant AG*
Kuehne + Nagel International AG
Nestle S.A.
Novartis AG
Roche Holding AG – Genusschein
Swiss Re AG*
Swisscom AG
Zurich Insurance Group AG*
10,830
1,191
3,538
1,052
18,252
18,084
4,619
5,273
625
1,398
Total Switzerland
Taiwan – 1.5%
Asia Cement Corp.
Chunghwa Telecom Co., Ltd.
Compal Electronics, Inc.
Far Eastern New Century Corp.
Far EasTone Telecommunications Co., Ltd.
Formosa Chemicals & Fibre Corp.
Formosa Plastics Corp.
HTC Corp.
Mega Financial Holding Co., Ltd.
Nan Ya Plastics Corp.
Pou Chen Corp.
279,531
99,166
68,809
147,317
1,375,073
1,535,405
1,385,674
489,186
384,191
429,521
6,193,873
94,700
97,800
67,000
103,880
21,000
20,000
30,000
30,000
108,611
67,630
47,000
118,171
300,923
47,523
110,353
44,479
48,338
75,068
150,726
84,171
143,244
66,288
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 55
Schedule of Investments (continued)
WisdomTree Global Equity Income Fund (DEW)
March 31, 2014
Investments
Quanta Computer, Inc.
Siliconware Precision Industries Co.
Synnex Technology International Corp.
Taiwan Cement Corp.
Taiwan Mobile Co., Ltd.
United Microelectronics Corp.
Shares
63,000
47,000
64,000
72,000
34,800
258,000
Value
$
Total Taiwan
Thailand – 1.0%
Advanced Info Service PCL
Bangkok Bank PCL NVDR
Banpu PCL NVDR
BEC World PCL NVDR
Charoen Pokphand Foods PCL NVDR
Electricity Generating PCL NVDR
Intouch Holdings PCL NVDR
Krung Thai Bank PCL NVDR
PTT Exploration & Production PCL NVDR
PTT Global Chemical PCL NVDR
PTT PCL NVDR
Ratchaburi Electricity Generating Holding PCL
NVDR
Thai Oil PCL NVDR
Thai Union Frozen Products PCL NVDR
1,853,424
30,100
1,600
113,800
8,460
99,800
3,464
21,006
41,400
32,900
57,732
24,600
209,698
8,804
98,224
14,213
86,141
13,988
50,022
23,865
159,226
128,580
226,739
16,928
31,000
45,271
27,005
50,647
95,943
Total Thailand
Turkey – 0.2%
Arcelik A.S.
Tupras Turkiye Petrol Rafinerileri A.S.
Turk Telekomunikasyon A.S.
1,193,095
6,037
5,102
62,737
Total Turkey
United Kingdom – 13.4%
Anglo American PLC
AstraZeneca PLC
Aviva PLC
BAE Systems PLC
BHP Billiton PLC
BP PLC
British American Tobacco PLC
British Land Co. PLC
British Sky Broadcasting Group PLC
BT Group PLC
Carnival PLC
Centrica PLC
Drax Group PLC
Fresnillo PLC
GlaxoSmithKline PLC
HSBC Holdings PLC
ICAP PLC
IG Group Holdings PLC
Imperial Tobacco Group PLC
Inmarsat PLC
J. Sainsbury PLC
Legal & General Group PLC
Man Group PLC
169,641
62,507
102,980
111,124
109,020
108,868
33,724
108,041
174,497
316,262
13,820
11,612
28,371
38,364
17,279
190,310
16,064
12,524
13,792
53,947
1,314
54,008
4,516
3,218
47,446
137,509
11,461
11,066
8,785
8,887
20,547
73,802
35,491
351,706
750,450
225,615
264,916
531,195
1,522,922
893,284
136,551
209,929
341,314
50,034
296,860
57,671
45,253
1,258,870
1,392,682
72,149
115,765
354,870
107,638
108,280
251,861
59,879
Investments
Marks & Spencer Group PLC
National Grid PLC
Old Mutual PLC
Pearson PLC
Pennon Group PLC
Prudential PLC
Reckitt Benckiser Group PLC
Reed Elsevier PLC
Rexam PLC
Rio Tinto PLC
Royal Dutch Shell PLC Class B
Segro PLC
Severn Trent PLC
SSE PLC
Standard Chartered PLC
Standard Life PLC
Tesco PLC
TUI Travel PLC
Unilever PLC
United Utilities Group PLC
Vedanta Resources PLC
Vodafone Group PLC
WM Morrison Supermarkets PLC
23,110
40,081
45,105
7,631
7,848
17,460
5,384
16,626
14,432
10,233
28,252
20,968
3,529
9,447
15,738
29,891
52,503
20,544
10,500
11,008
3,165
294,972
20,957
Total United Kingdom
United States – 17.7%
Abbott Laboratories
AGL Resources, Inc.
Altria Group, Inc.
Ameren Corp.
American Electric Power Co., Inc.
AT&T, Inc.
Bristol-Myers Squibb Co.
CA, Inc.
Cablevision Systems Corp. Class A
CenterPoint Energy, Inc.
CenturyLink, Inc.
Cincinnati Financial Corp.
Cliffs Natural Resources, Inc.
ConocoPhillips
Consolidated Edison, Inc.
Diamond Offshore Drilling, Inc.
Diebold, Inc.
Dominion Resources, Inc.
Dow Chemical Co. (The)
DTE Energy Co.
Duke Energy Corp.
Eli Lilly & Co.
Entergy Corp.
Exelon Corp.
First Niagara Financial Group, Inc.
FirstEnergy Corp.
Freeport-McMoRan Copper & Gold, Inc.
Frontier Communications Corp.
See Notes to Financial Statements.
56 WisdomTree International Dividend and Sector Funds
Shares
Value
$
173,953
549,269
151,221
135,235
97,147
369,240
438,654
253,897
117,126
569,376
1,102,383
116,057
107,254
231,361
328,888
188,119
258,565
150,015
448,305
144,614
47,594
1,083,353
74,419
16,535,739
8,571
1,966
18,705
3,120
5,584
54,814
10,748
1,520
3,517
2,652
9,765
2,119
4,869
12,824
2,783
1,626
963
4,219
7,917
1,549
5,848
9,341
2,267
8,096
5,261
5,779
8,752
20,686
330,069
96,255
700,128
128,544
282,885
1,922,327
558,359
47,074
59,332
62,826
320,683
103,111
99,620
902,168
149,308
79,284
38,414
299,507
384,687
115,075
416,495
549,811
151,549
271,702
49,716
196,659
289,429
117,910
Schedule of Investments (concluded)
WisdomTree Global Equity Income Fund (DEW)
March 31, 2014
Investments
Shares
Great Plains Energy, Inc.
Hancock Holding Co.
Hawaiian Electric Industries, Inc.
HCP, Inc.
Health Care REIT, Inc.
Hospitality Properties Trust
Integrys Energy Group, Inc.
Intel Corp.
Kimberly-Clark Corp.
Kimco Realty Corp.
Kinder Morgan, Inc.
Leggett & Platt, Inc.
Liberty Property Trust
Lockheed Martin Corp.
Lorillard, Inc.
Macerich Co. (The)
Merck & Co., Inc.
New York Community Bancorp, Inc.
Newmont Mining Corp.
NextEra Energy, Inc.
Northeast Utilities
Nucor Corp.
Old Republic International Corp.
Paychex, Inc.
Pepco Holdings, Inc.
Pfizer, Inc.
PG&E Corp.
Philip Morris International, Inc.
Piedmont Natural Gas Co., Inc.
Pinnacle West Capital Corp.
Pitney Bowes, Inc.
Plum Creek Timber Co., Inc.
PPL Corp.
Prudential Financial, Inc.
Public Service Enterprise Group, Inc.
R.R. Donnelley & Sons Co.
Reynolds American, Inc.
Safeway, Inc.
SCANA Corp.
Senior Housing Properties Trust
Southern Co. (The)
Southern Copper Corp.
Spectra Energy Corp.
Sysco Corp.
TECO Energy, Inc.
Verizon Communications, Inc.
Vornado Realty Trust
Waste Management, Inc.
Williams Cos., Inc. (The)
Windstream Holdings, Inc.
Xcel Energy, Inc.
3,417
2,713
2,603
4,932
3,040
4,041
1,631
32,700
1,053
5,764
5,873
3,645
3,052
3,185
3,884
1,817
21,836
6,978
5,872
1,415
1,201
3,444
4,119
5,256
3,435
48,800
3,523
10,733
1,402
1,354
3,160
3,052
5,702
2,195
4,430
3,410
6,729
1,203
2,176
4,960
7,049
6,737
5,986
4,822
6,468
38,532
1,307
4,033
4,592
11,227
3,002
Total United States
TOTAL COMMON STOCKS
(Cost: $100,048,439)
$
Value
Investments
Shares
92,396
99,431
66,168
191,312
181,184
116,058
97,289
843,987
116,093
126,116
190,814
118,973
112,802
519,919
210,047
113,254
1,239,630
112,136
137,640
135,302
54,645
174,060
67,552
223,906
70,349
1,567,456
152,194
878,711
49,617
74,010
82,128
128,306
188,964
185,807
168,960
61,039
359,463
44,439
111,672
111,451
309,733
196,114
221,123
174,219
110,926
1,834,532
128,818
169,668
186,343
92,510
91,141
RIGHTS – 0.0%
Spain – 0.0%
Banco Bilbao Vizcaya Argentaria S.A.
expiring 5/14/14*
(Cost: $6,635)
28,654
TOTAL INVESTMENTS IN SECURITIES – 99.5%
(Cost: $100,055,074)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.5%
NET ASSETS – 100.0%
Value
$
6,714
122,897,586
628,915
$123,526,501
ADR – American Depositary Receipt
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
21,813,334
122,890,872
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 57
Schedule of Investments
WisdomTree Europe SmallCap Dividend Fund (DFE)
March 31, 2014
Investments
COMMON STOCKS – 99.0%
Austria – 2.0%
ams AG
CAT Oil AG
RHI AG
Schoeller-Bleckmann Oilfield Equipment AG
Wienerberger AG
Zumtobel AG
Shares
70,324
189,091
141,450
24,106
221,582
164,897
Value
$
Total Austria
Belgium – 1.6%
Arseus N.V.
Barco N.V.
Econocom Group
EVS Broadcast Equipment S.A.
199,260
56,766
199,416
75,866
110,925
119,995
135,243
21,407
Total Denmark
Finland – 1.9%
Citycon Oyj
Metsa Board Oyj*
PKC Group Oyj
Raisio PLC Class V
Stockmann Oyj Abp Class B
Tikkurila Oyj
Total Finland
France – 2.3%
Akka Technologies
Alten S.A.
Assystem
Groupe Steria SCA
IPSOS
Korian-Medica
Mersen
Saft Groupe S.A.
Total France
Germany – 10.1%
Aurelius AG
Bauer AG
BayWa AG
Bechtle AG
Bertrandt AG
DMG MORI SEIKI AG
Drillisch AG
Grammer AG
Jenoptik AG
Leoni AG
LPKF Laser & Electronics AG
NORMA Group SE
Total Ireland
1,587,003
12,733,756
2,946,456
2,423,043
8,686,913
140
2,644,842
2,867,962
Italy – 13.9%
Amplifon SpA
Ansaldo STS SpA
Astaldi SpA
ASTM SpA
Banca Popolare di Sondrio SCARL
Brembo SpA
Brunello Cucinelli SpA
Cementir Holding SpA
Danieli & C Officine Meccaniche SpA
Danieli & C Officine Meccaniche SpA RSP
ERG SpA
Esprinet SpA
Geox SpA
Indesit Co. SpA
Interpump Group SpA
Intesa Sanpaolo SpA RSP
Iren SpA
Italcementi SpA
Piaggio & C. SpA
Reply SpA
Salini Impregilo SpA
Trevi Finanziaria Industriale SpA
Unipol Gruppo Finanziario SpA
33,890,115
Total Italy
5,436,697
5,117,010
7,839,450
4,157,313
6,755,504
3,823,697
2,993,346
3,838,086
4,152,461
5,520,396
389,692
73,273
103,024
82,588
40,484
208,133
1,184,009
61,507
224,755
280,784
114,869
119,530
14,829,133
1,936,959
5,860,752
7,117,594
6,204,633
6,378,315
42,983,190
3,013,221
4,079,651
20,498,883
2,685,867
6,336,808
Netherlands – 4.1%
BE Semiconductor Industries N.V.
BinckBank N.V.
Brunel International N.V.
Corbion N.V.
Heijmans N.V. CVA
Koninklijke BAM Groep N.V.
Koninklijke Ten Cate N.V.
USG People N.V.
Norway – 7.1%
Atea ASA
Value
$
8,018,402
1,804,214
761,856
4,472,031
9,687,216
146,668,725
150,807
502,860
2,868,746
853,963
2,501,372
1,331,294
3,845,219
5,424,080
13,185,712
2,036,165
3,447,515
7,790,329
35,729,020
577,400
639,015
482,359
241,135
716,874
417,378
66,174
370,981
115,344
181,006
965,823
187,729
1,662,903
512,059
419,365
11,445,921
4,105,730
600,185
268,341
39,558
1,936,933
247,912
5,224,700
3,891,468
7,490,542
4,972,787
4,091,157
4,870,994
15,807,899
1,752,034
3,517,774
3,848,732
4,166,173
15,640,955
1,966,404
7,494,498
7,819,656
6,461,924
32,497,192
7,412,924
7,411,754
961,586
3,516,592
11,826,227
2,779,604
40,829,333
201,028,209
347,134
1,151,721
108,213
645,408
98,560
1,005,535
153,238
276,876
Total Netherlands
See Notes to Financial Statements.
58 WisdomTree International Dividend and Sector Funds
40,825
896,331
182,562
Total Germany
22,487,921
27,083,490
44,219
237,021
96,082
120,004
214,019
4
78,294
82,021
65,612
459,159
10,735,287
4,545,611
2,289,459
4,917,564
22,550,470
1,899,810
830,633
95,972
580,157
281,312
234,232
Shares
Pfeiffer Vacuum Technology AG
PNE Wind AG
PSI AG fuer Produkte und Systeme der
Informationstechnologie
QSC AG
SMA Solar Technology AG
Ireland – 2.5%
FBD Holdings PLC
Grafton Group PLC
Greencore Group PLC
IFG Group PLC
Total Produce PLC
UDG Healthcare PLC
29,532,969
Total Belgium
Denmark – 1.6%
Aktieselskabet Schouw & Co.
D/S Norden A/S
NKT Holding A/S
Rockwool International A/S Class B
9,871,711
3,952,220
4,553,137
2,820,060
4,244,995
4,090,846
Investments
5,365,674
13,624,302
7,588,473
15,237,705
1,786,300
6,028,570
4,718,213
4,472,402
58,821,639
1,926,203
21,153,631
Schedule of Investments (continued)
WisdomTree Europe SmallCap Dividend Fund (DFE)
March 31, 2014
Investments
Austevoll Seafood ASA
Borregaard ASA
Cermaq ASA
Ekornes ASA
Kvaerner ASA
Leroey Seafood Group ASA
Sparebank 1 Nord-Norge
SpareBank 1 SMN
Tomra Systems ASA
Veidekke ASA
Shares
1,571,614
881,954
196,079
450,311
6,295,961
494,063
585,177
888,710
524,069
1,063,358
Total Norway
Portugal – 0.2%
Altri, SGPS, S.A.
Spain – 3.8%
Abengoa S.A.
Abengoa S.A. Class B
Atresmedia Corp de Medios de
Comunicaion S.A.*
Caja de Ahorros del Mediterraneo*†
Duro Felguera S.A.
Ence Energia y Celulosa S.A.
Faes Farma S.A.
Laboratorios Farmaceuticos Rovi S.A.
Melia Hotels International S.A.
Pescanova S.A.*†
Total Sweden
9,318,829
5,907,142
2,177,910
7,145,346
13,460,436
16,050,518
3,381,820
7,978,581
5,033,191
11,011,800
102,619,204
742,427
2,699,333
1,499,086
2,514,563
8,392,558
11,693,256
700,140
7,768
1,750,358
1,235,557
893,936
121,597
326,596
3,781
10,778,689
14,346
11,989,778
3,729,364
3,074,007
1,634,012
4,204,222
0
Total Spain
Sweden – 14.3%
AF AB Class B
B&B Tools AB Class B
Bilia AB Class A
BioGaia AB Class B
Byggmax Group AB
Clas Ohlson AB Class B
Concentric AB
Duni AB
Gunnebo AB
Haldex AB
Holmen AB Class B
Indutrade AB
Intrum Justitia AB
Kungsleden AB
Loomis AB Class B
Mekonomen AB
New Wave Group AB Class B
Nobia AB
Nolato AB Class B
Peab AB
Skandinaviska Enskilda Banken AB Class C
SkiStar AB
Svenska Handelsbanken AB Class B
Transmode Holding AB
Wihlborgs Fastigheter AB
Value
$
55,510,232
220,220
179,775
317,706
167,195
783,220
712,889
291,898
638,039
495,419
203,758
708,285
214,718
463,136
966,261
405,396
279,320
539,667
511,163
330,875
2,289,273
372,180
319,143
137,382
162,909
733,463
8,151,830
3,299,616
10,167,886
5,479,859
6,130,656
15,063,629
4,051,919
8,364,756
2,926,568
2,380,589
25,945,306
10,233,261
12,614,974
7,973,250
10,410,722
7,690,018
3,803,901
4,513,589
8,318,379
16,150,311
5,243,831
4,085,550
6,748,798
2,732,508
14,253,972
206,735,678
Investments
Shares
Switzerland – 8.7%
Ascom Holding AG*
Basilea Pharmaceutica AG*
Bellevue Group AG
Implenia AG*
Kardex AG*
Kudelski S.A.
Logitech International S.A.
Nobel Biocare Holding AG*
Swissquote Group Holding S.A.
Tecan Group AG
Temenos Group AG*
Valiant Holding AG
Zehnder Group AG
240,754
149,699
259,410
78,902
48,897
199,993
3,503,374
467,618
81,088
43,047
193,709
110,231
56,829
Total Switzerland
United Arab Emirates – 0.1%
NMC Health PLC
United Kingdom – 24.8%
A.G. BARR PLC
Abcam PLC
African Barrick Gold PLC
Alent PLC
Bank of Georgia Holdings PLC
Betfair Group PLC
Big Yellow Group PLC
Bodycote PLC
Bovis Homes Group PLC
Brewin Dolphin Holdings PLC
Cable & Wireless Communications PLC
Carillion PLC
Central Asia Metals PLC
Chemring Group PLC
Chesnara PLC
Cineworld Group PLC
Computacenter PLC
Cranswick PLC
CSR PLC
Dairy Crest Group PLC
Darty PLC
De La Rue PLC
Dechra Pharmaceuticals PLC
Development Securities PLC
Devro PLC
Diploma PLC
Domino Printing Sciences PLC
E2V Technologies PLC
Elementis PLC
EMIS Group PLC
F&C Asset Management PLC
Fenner PLC
Ferrexpo PLC
Fidessa Group PLC
Galliford Try PLC
Value
$
4,946,720
17,099,258
4,023,226
5,904,140
2,427,275
2,897,957
52,351,318
6,722,985
3,350,554
5,165,543
6,819,890
11,099,844
2,496,140
125,304,850
226,030
1,901,087
238,625
293,818
3,148,168
371,591
136,232
133,980
600,568
300,059
152,197
946,051
14,072,653
1,737,239
447,559
453,635
838,396
617,656
482,142
128,907
234,693
562,222
1,386,961
319,116
186,043
453,980
442,821
286,849
330,777
822,211
876,460
119,474
2,102,541
410,564
1,318,472
74,004
210,893
2,426,725
1,905,473
13,829,715
1,963,809
5,662,082
2,470,414
5,471,760
4,036,964
2,272,199
5,330,967
12,340,605
10,472,797
1,237,673
1,966,322
4,291,037
3,199,871
5,293,043
2,628,317
2,838,653
4,532,824
2,716,920
4,333,256
2,071,880
1,771,036
1,742,268
3,431,231
4,337,193
2,138,369
4,186,310
1,290,693
4,276,407
2,728,305
3,398,248
3,130,043
4,665,603
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 59
Schedule of Investments (concluded)
WisdomTree Europe SmallCap Dividend Fund (DFE)
March 31, 2014
Investments
Genus PLC
Go-Ahead Group PLC
Greggs PLC
Halfords Group PLC
Helical Bar PLC
Hill & Smith Holdings PLC
Homeserve PLC
Huntsworth PLC
Interserve PLC
ITE Group PLC
J D Wetherspoon PLC
James Fisher & Sons PLC
John Menzies PLC
Kcom Group PLC
Keller Group PLC
Kier Group PLC
Laird PLC
Low & Bonar PLC
Marshalls PLC
Marston’s PLC
Micro Focus International PLC
Mitie Group PLC
Moneysupermarket.com Group PLC
Morgan Advanced Materials PLC
National Express Group PLC
NCC Group PLC
Novae Group PLC
Numis Corp. PLC
Oxford Instruments PLC
Pace PLC
PayPoint PLC
Photo-Me International PLC
Polar Capital Holdings PLC
Premier Farnell PLC
Rank Group PLC
Restaurant Group PLC
Ricardo PLC
RPC Group PLC
RPS Group PLC
Safestore Holdings PLC
Savills PLC
Schroders PLC Non-Voting Shares
SDL PLC
Senior PLC
Shanks Group PLC
SIG PLC
Smiths News PLC
Spirent Communications PLC
Spirit Pub Co. PLC
ST Modwen Properties PLC
SThree PLC
Synthomer PLC
Ted Baker PLC
Telecom Plus PLC
Shares
69,881
176,008
477,972
1,208,619
420,688
319,000
813,684
1,376,057
381,232
424,690
268,433
70,394
216,958
2,582,948
112,090
158,352
1,267,540
917,427
988,976
2,179,704
432,545
965,540
1,529,834
669,247
1,484,989
467,397
376,623
662,367
28,249
347,010
103,854
1,184,329
309,603
1,704,809
934,956
456,885
100,442
552,670
390,029
1,102,764
464,327
121,603
172,353
523,721
1,435,774
746,117
1,001,381
1,011,367
1,794,090
474,345
387,181
846,494
83,881
152,007
$
Value
Investments
1,153,371
5,466,634
4,028,082
9,305,036
2,621,296
2,890,447
4,273,080
1,554,248
4,639,668
1,352,322
3,832,993
1,716,938
2,369,145
4,271,713
2,006,993
4,366,503
6,345,878
1,296,242
2,918,325
5,232,807
5,988,880
5,239,574
4,771,916
3,995,448
6,934,435
1,461,039
3,641,745
3,459,111
596,698
2,606,801
1,982,455
2,680,322
2,508,512
6,647,842
2,464,324
5,430,892
1,087,600
5,818,539
2,032,641
4,357,181
5,167,136
4,085,019
979,824
2,684,849
2,650,968
2,501,461
2,533,394
1,666,710
2,430,202
3,163,217
2,581,955
3,996,611
3,003,811
4,533,657
TT electronics PLC
Tullett Prebon PLC
UTV Media PLC
Vesuvius PLC
Vitec Group PLC (The)
WH Smith PLC
WS Atkins PLC
546,096
1,176,182
465,841
788,108
201,990
438,149
231,836
Total United Kingdom
EXCHANGE-TRADED FUNDS – 0.2%
United States – 0.2%
WisdomTree International MidCap
Dividend Fund(a)
(Cost: $3,377,818)
TOTAL INVESTMENTS IN SECURITIES – 99.2%
(Cost: $1,290,777,801)
Cash, Foreign Currency and Other Assets in
Excess of and Liabilities – 0.8%
NET ASSETS – 100.0%
Value
$
1,948,307
5,527,698
1,836,723
5,722,010
2,057,528
8,787,436
5,376,290
358,971,494
TOTAL COMMON STOCKS
(Cost: $1,287,399,983)
1,431,534,436
56,222
3,386,251
1,434,920,687
11,950,343
$1,446,871,030
RSP – Risparmio Italian Savings Shares
*
Non-income producing security.
†
Security is being fair valued by a valuation committee under the direction of the
Board of Trustees. The aggregate value of fair valued securities is $14,346, which
represents 0.0% of net assets.
(a) Affiliated company (See Note 7).
See Notes to Financial Statements.
60 WisdomTree International Dividend and Sector Funds
Shares
Schedule of Investments
WisdomTree Japan Hedged Equity Fund (DXJ)
March 31, 2014
Investments
COMMON STOCKS – 98.7%
Japan – 98.7%
Air Freight & Logistics – 0.1%
Kintetsu World Express, Inc.
Yusen Logistics Co., Ltd.
Shares
Value
Shares
Suzuki Motor Corp.
Toyota Motor Corp.
Yamaha Motor Co., Ltd.
115,700
386,400
Total Air Freight & Logistics
$
5,151,085
4,885,107
10,036,192
Airlines – 1.0%
Japan Airlines Co., Ltd.
2,247,900
110,883,449
Auto Components – 5.8%
Aisan Industry Co., Ltd.
Aisin Seiki Co., Ltd.
Akebono Brake Industry Co., Ltd.
Bridgestone Corp.
Calsonic Kansei Corp.
Daido Metal Co., Ltd.
Denso Corp.
Eagle Industry Co., Ltd.
Exedy Corp.
FCC Co., Ltd.
Keihin Corp.
Kinugawa Rubber Industrial Co., Ltd.
Koito Manufacturing Co., Ltd.
KYB Co., Ltd.
Musashi Seimitsu Industry Co., Ltd.
NGK Spark Plug Co., Ltd.
NHK Spring Co., Ltd.
Nifco, Inc.
Nissin Kogyo Co., Ltd.
NOK Corp.
Pacific Industrial Co., Ltd.
Press Kogyo Co., Ltd.
Riken Corp.
Sanden Corp.
Showa Corp.
Stanley Electric Co., Ltd.
Sumitomo Rubber Industries Ltd.
Takata Corp.
Tokai Rika Co., Ltd.
Tokai Rubber Industries Ltd.
Toyo Tire & Rubber Co., Ltd.
Toyoda Gosei Co., Ltd.
Toyota Boshoku Corp.
TPR Co., Ltd.
TS Tech Co., Ltd.
Unipres Corp.
Yokohama Rubber Co., Ltd. (The)
373,900
2,011,308
793,648
2,445,485
1,837,000
357,000
4,323,479
223,000
364,515
268,572
416,734
661,183
608,501
1,293,000
169,700
853,000
1,321,900
369,845
395,746
633,000
389,100
815,000
643,000
3,806,000
564,200
915,207
1,637,991
356,600
477,114
513,100
1,245,678
757,334
759,136
266,700
306,332
291,000
2,381,917
2,875,456
72,749,646
3,560,376
86,910,473
8,544,186
3,757,712
207,725,145
3,445,094
10,222,065
4,790,666
6,086,012
2,747,840
10,322,389
5,474,079
3,501,602
19,216,002
12,283,908
10,472,088
7,397,301
10,356,897
2,614,528
2,959,751
2,603,593
17,000,146
6,212,582
20,359,657
20,899,356
8,982,089
8,033,361
5,266,269
8,841,973
14,553,226
7,688,293
4,076,184
9,310,280
5,241,589
22,434,913
Total Auto Components
Automobiles – 12.9%
Daihatsu Motor Co., Ltd.
Fuji Heavy Industries Ltd.
Honda Motor Co., Ltd.
Isuzu Motors Ltd.
Nissan Motor Co., Ltd.
Investments
659,516,727
4,313,169
1,445,067
12,374,777
6,150,770
35,058,700
76,350,023
39,176,842
436,664,948
35,416,872
313,191,280
1,529,136
9,236,317
928,500
Total Automobiles
Banks – 4.6%
Mitsubishi UFJ Financial Group, Inc.
Beverages – 0.7%
Kirin Holdings Co., Ltd.
Building Products – 1.3%
Asahi Glass Co., Ltd.
Central Glass Co., Ltd.
Daikin Industries Ltd.
Okabe Co., Ltd.
Sanwa Holdings Corp.
95,845,178
527,690,595
5,502,745
76,408,461
14,052,406
1,360,000
834,849
408,100
1,599,831
81,597,697
4,423,945
46,871,844
5,884,629
10,392,649
149,170,764
153,100
1,351,696
13,381,656
Total Capital Markets
Chemicals – 7.1%
ADEKA Corp.
Asahi Kasei Corp.
Chugoku Marine Paints Ltd.
Daicel Corp.
Denki Kagaku Kogyo K.K.
DIC Corp.
Fujimi, Inc.
Gun Ei Chemical Industry Co., Ltd.
Hitachi Chemical Co., Ltd.
JSP Corp.
JSR Corp.
Kaneka Corp.
Kansai Paint Co., Ltd.
Kumiai Chemical Industry Co., Ltd.
Kuraray Co., Ltd.
Kureha Corp.
Lintec Corp.
Mitsubishi Chemical Holdings Corp.
Mitsubishi Gas Chemical Co., Inc.
Mitsui Chemicals, Inc.
Nihon Nohyaku Co., Ltd.
Nihon Parkerizing Co., Ltd.
Nippon Paint Co., Ltd.
Nippon Shokubai Co., Ltd.
Nippon Soda Co., Ltd.
Nippon Synthetic Chemical Industry Co.,
Ltd. (The)
Nissan Chemical Industries Ltd.
Nitto Denko Corp.
Sakata INX Corp.
Sanyo Chemical Industries Ltd.
40,000,897
522,510,879
14,831,116
1,478,142,857
Total Building Products
Capital Markets – 0.8%
GCA Savvian Corp.
Monex Group, Inc.
Nomura Holdings, Inc.
Value
$
1,321,609
5,263,194
86,018,899
92,603,702
738,900
9,305,522
350,000
1,873,542
5,087,076
7,168,857
426,900
486,000
1,607,915
267,196
1,471,361
3,517,160
906,000
381,000
3,473,737
1,862,000
438,647
12,242,563
3,001,564
9,916,188
256,000
198,000
1,049,000
942,000
821,000
8,538,049
63,431,339
2,491,139
15,390,751
17,486,283
18,864,497
5,334,955
1,826,305
21,936,404
4,133,060
27,331,297
21,379,251
12,976,162
2,423,217
39,802,007
8,823,188
8,382,360
50,998,296
16,962,764
24,360,786
3,865,417
4,591,193
15,930,825
11,150,148
4,472,311
448,000
1,167,953
942,114
328,000
1,017,000
3,223,460
17,567,211
45,209,762
3,105,307
6,527,523
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 61
Schedule of Investments (continued)
WisdomTree Japan Hedged Equity Fund (DXJ)
March 31, 2014
Investments
Shikoku Chemicals Corp.
Shin-Etsu Chemical Co., Ltd.
Showa Denko K.K.
Sumitomo Bakelite Co., Ltd.
Sumitomo Seika Chemicals Co., Ltd.
Taiyo Holdings Co., Ltd.
Taiyo Nippon Sanso Corp.
Teijin Ltd.
Tokai Carbon Co., Ltd.
Toray Industries, Inc.
Tosoh Corp.
Toyo Ink SC Holdings Co., Ltd.
Toyobo Co., Ltd.
Ube Industries Ltd.
Zeon Corp.
Shares
253,000
2,247,589
8,899,312
1,841,000
438,000
393,833
2,886,953
5,133,095
2,847,000
7,806,514
3,578,614
3,120,322
6,967,513
10,216,923
1,200,000
Value
$
Total Chemicals
1,827,761
128,720,493
12,616,396
7,096,927
2,947,361
11,682,865
22,762,595
12,759,842
9,675,681
51,697,262
13,830,057
12,634,600
10,960,209
18,849,496
10,883,138
817,459,950
Commercial Services & Supplies – 0.1%
Sato Holdings Corp.
292,967
6,801,807
Communications Equipment – 0.0%
Hitachi Kokusai Electric, Inc.
419,000
5,040,938
Construction & Engineering – 0.5%
JGC Corp.
Penta-Ocean Construction Co., Ltd.
Sumitomo Densetsu Co., Ltd.
Taikisha Ltd.
Toyo Engineering Corp.
1,179,018
1,394,043
164,960
292,600
615,000
41,099,914
4,751,266
2,055,092
6,358,584
2,830,606
Total Construction & Engineering
Consumer Finance – 0.1%
Hitachi Capital Corp.
Containers & Packaging – 0.0%
Fuji Seal International, Inc.
Electrical Equipment – 2.8%
Daihen Corp.
Denyo Co., Ltd.
Fuji Electric Co., Ltd.
Fujikura Ltd.
Furukawa Electric Co., Ltd.
GS Yuasa Corp.
IDEC Corp.
Mitsubishi Electric Corp.
Nidec Corp.
Nippon Carbon Co., Ltd.
Nissin Electric Co., Ltd.
Sanyo Denki Co., Ltd.
Sumitomo Electric Industries Ltd.
Tatsuta Electric Wire and Cable Co., Ltd.
Ushio, Inc.
57,095,462
746,158
15,997,639
Investments
Citizen Holdings Co., Ltd.
Enplas Corp.
FUJIFILM Holdings Corp.
Hakuto Co., Ltd.
Hamamatsu Photonics K.K.
Hitachi High-Technologies Corp.
Hitachi Ltd.
Horiba Ltd.
Hoya Corp.
Ibiden Co., Ltd.
Japan Aviation Electronics Industry Ltd.
Keyence Corp.
KOA Corp.
Kyocera Corp.
Macnica, Inc.
Murata Manufacturing Co., Ltd.
Nichicon Corp.
Nippon Electric Glass Co., Ltd.
Ohara, Inc.
Optex Co., Ltd.
Ryosan Co., Ltd.
Sanshin Electronics Co., Ltd.
Shimadzu Corp.
SIIX Corp.
Taiyo Yuden Co., Ltd.
TDK Corp.
Topcon Corp.
UKC Holdings Corp.
Yaskawa Electric Corp.
Yokogawa Electric Corp.
Shares
1,801,385
52,248
3,077,895
347,719
403,785
463,919
23,997,028
250,500
4,646,757
1,750,201
376,000
26,110
232,346
1,597,618
120,600
990,656
480,500
4,818,301
183,700
157,300
414,945
450,154
1,298,000
296,500
154,800
866,468
313,400
145,500
589,000
905,038
Total Electronic Equipment, Instruments
& Components
137,491
822,000
158,800
3,876,869
1,809,577
2,699,000
1,835,920
406,661
7,904,114
1,451,444
530,624
562,000
428,000
4,425,083
350,136
933,609
Total Electrical Equipment
Electronic Equipment, Instruments & Components – 7.3%
Amano Corp.
801,733
Anritsu Corp.
961,252
13,591,068
2,942,549
82,816,401
3,264,983
18,231,784
10,829,356
177,557,269
9,462,009
144,972,863
34,567,256
5,629,868
10,792,860
2,594,532
72,182,517
3,577,540
93,645,057
3,811,900
24,843,597
1,132,684
2,721,839
8,779,581
3,020,405
11,557,664
4,865,612
1,913,486
36,262,340
5,149,030
2,516,245
8,161,412
14,649,690
835,402,828
4,692,731
3,280,497
2,675,322
17,354,339
8,293,638
6,735,379
9,751,403
3,818,432
89,183,672
88,494,605
1,009,878
2,903,180
2,772,015
65,999,199
1,815,533
12,075,226
316,162,318
8,298,756
11,060,675
Energy Equipment & Services – 0.0%
Modec, Inc.
Toyo Kanestu K.K.
163,200
446,775
Total Energy Equipment & Services
4,139,228
1,140,960
5,280,188
Food & Staples Retailing – 1.8%
Seven & I Holdings Co., Ltd.
5,320,424
203,755,423
Food Products – 1.0%
Ajinomoto Co., Inc.
Fuji Oil Co., Ltd.
Kikkoman Corp.
Nisshin Oillio Group Ltd. (The)
Sakata Seed Corp.
Toyo Suisan Kaisha Ltd.
Yakult Honsha Co., Ltd.
3,162,513
460,422
743,000
1,803,000
318,700
592,000
325,287
45,295,011
5,910,355
14,046,910
5,882,488
4,394,368
19,803,272
16,361,476
Total Food Products
Health Care Equipment & Supplies – 0.4%
Mani, Inc.
Nikkiso Co., Ltd.
Nipro Corp.
Sysmex Corp.
See Notes to Financial Statements.
62 WisdomTree International Dividend and Sector Funds
Value
$
111,693,880
79,700
309,000
1,033,133
346,160
3,312,288
3,438,501
9,299,551
11,058,566
Schedule of Investments (continued)
WisdomTree Japan Hedged Equity Fund (DXJ)
March 31, 2014
Investments
Shares
Terumo Corp.
1,133,656
Total Health Care Equipment & Supplies
Household Durables – 1.7%
Casio Computer Co., Ltd.
Foster Electric Co., Ltd.
Fujitsu General Ltd.
JVCKENWOOD Corp.*
Nikon Corp.
Rinnai Corp.
Sekisui Chemical Co., Ltd.
Sony Corp.
Tamron Co., Ltd.
2,396,357
56,100
473,000
1,151,413
1,386,446
175,100
3,435,000
3,811,221
275,700
187,400
408,187
Leisure Products – 0.2%
Dunlop Sports Co., Ltd.
Mizuno Corp.
Tomy Co., Ltd.
Yamaha Corp.
1,334,000
24,523,618
28,411,437
684,193
4,574,530
2,783,918
22,374,844
15,421,246
35,789,241
72,978,859
6,545,482
8,479,720
21,851,094
11,424,849
104,061,961
115,486,810
4,512,700
103,588,123
273,207
842,000
491,200
641,407
3,321,407
4,750,226
2,279,882
8,277,224
Total Leisure Products
Machinery – 8.9%
Aida Engineering Ltd.
Amada Co., Ltd.
Anest Iwata Corp.
Asahi Diamond Industrial Co., Ltd.
CKD Corp.
Daifuku Co., Ltd.
Ebara Corp.
FANUC Corp.
Fujitec Co., Ltd.
Furukawa Co., Ltd.
Hino Motors Ltd.
Hitachi Construction Machinery Co., Ltd.
Hitachi Koki Co., Ltd.
Hitachi Zosen Corp.
Hoshizaki Electric Co., Ltd.
IHI Corp.
Japan Steel Works Ltd. (The)
JTEKT Corp.
Kawasaki Heavy Industries Ltd.
Kitz Corp.
Komatsu Ltd.
Kubota Corp.
Makino Milling Machine Co., Ltd.
Makita Corp.
Minebea Co., Ltd.
Mitsubishi Heavy Industries Ltd.
Mitsui Engineering & Shipbuilding Co., Ltd.
Nabtesco Corp.
NGK Insulators Ltd.
Nippon Thompson Co., Ltd.
Nitta Corp.
Noritake Co., Ltd.
NSK Ltd.
Obara Group, Inc.
Oiles Corp.
OKUMA Corp.
OSG Corp.
Ryobi Ltd.
Sintokogio, Ltd.
SMC Corp.
Sodick Co., Ltd.
Star Micronics Co., Ltd.
Sumitomo Heavy Industries Ltd.
Tadano Ltd.
THK Co., Ltd.
Torishima Pump Manufacturing Co., Ltd.
Toshiba Machine Co., Ltd.
Tsubakimoto Chain Co.
Tsugami Corp.
Union Tool Co.
30,330,814
Total Industrial Conglomerates
Insurance – 0.9%
MS&AD Insurance Group Holdings
Investments
189,563,750
Total Household Products
Industrial Conglomerates – 1.0%
Nisshinbo Holdings, Inc.
Toshiba Corp.
Value
24,800,961
51,909,867
Total Household Durables
Household Products – 0.3%
Pigeon Corp.
Unicharm Corp.
$
18,628,739
405,400
2,147,893
93,000
459,400
368,200
753,000
1,443,158
1,002,689
571,000
1,710,000
3,081,310
1,341,600
1,227,711
928,281
288,069
6,185,882
2,521,313
1,626,078
8,057,510
1,116,900
6,272,406
3,865,639
15,141,723
586,979
5,857,088
3,518,073
9,329,786
9,066,594
177,248,660
7,745,662
3,088,411
45,807,502
25,897,954
9,644,300
4,434,765
10,909,056
26,068,581
11,335,320
24,221,039
29,731,066
5,476,861
130,217,061
Shares
4,621,820
583,000
565,569
2,245,701
16,211,198
5,636,315
775,500
1,866,939
534,000
168,500
3,085,600
2,264,366
82,600
273,800
944,000
444,824
1,552,000
410,800
187,020
333,984
778,700
3,652,186
476,000
429,679
263,256
1,210,000
723,000
479,290
67,540
Total Machinery
Marine – 0.3%
Kawasaki Kisen Kaisha, Ltd.
Nippon Yusen K.K.
Value
$
61,349,011
4,115,560
31,138,284
20,017,998
93,975,678
11,931,026
17,876,749
38,975,762
2,618,537
3,147,973
7,819,989
23,350,553
3,099,956
5,867,618
7,644,764
7,731,562
4,747,099
3,147,266
49,440,399
1,258,298
9,406,251
14,859,115
6,202,768
9,667,100
3,254,114
5,733,650
5,181,085
2,871,505
1,547,744
1,017,169,534
5,321,000
9,830,763
Total Marine
11,521,901
28,637,461
40,159,362
Metals & Mining – 1.8%
Hitachi Metals Ltd.
JFE Holdings, Inc.
Mitsubishi Materials Corp.
Mitsui Mining & Smelting Co., Ltd.
Nippon Steel Sumitomo Metal Corp.
OSAKA Titanium Technologies Co.
Sumitomo Metal Mining Co., Ltd.
Topy Industries Ltd.
Yamato Kogyo Co., Ltd.
1,572,018
1,850,362
5,900,000
3,529,000
15,018,261
70,700
5,470,000
1,633,000
276,096
Total Metals & Mining
Personal Products – 1.9%
Kao Corp.
Mandom Corp.
Shiseido Co., Ltd.
205,022,164
3,537,880
153,900
4,614,922
Total Personal Products
Pharmaceuticals – 9.9%
Astellas Pharma, Inc.
22,423,600
34,910,457
16,785,940
8,155,576
41,123,946
1,227,476
68,836,432
2,885,915
8,672,822
125,630,210
5,574,084
81,377,854
212,582,148
19,597,515
232,920,895
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 63
Schedule of Investments (concluded)
WisdomTree Japan Hedged Equity Fund (DXJ)
March 31, 2014
Investments
Daiichi Sankyo Co., Ltd.
Dainippon Sumitomo Pharma Co., Ltd.
Eisai Co., Ltd.
Kyowa Hakko Kirin Co., Ltd.
Shionogi & Co., Ltd.
Takeda Pharmaceutical Co., Ltd.
Shares
8,509,321
1,860,511
3,746,177
3,673,470
2,440,277
10,333,329
Total Pharmaceuticals
Road & Rail – 0.3%
Nippon Express Co., Ltd.
Value
$
143,605,379
29,627,985
146,158,559
39,236,947
45,329,416
490,854,449
1,127,733,630
7,055,000
34,595,087
Semiconductors & Semiconductor Equipment – 0.6%
Advantest Corp.
781,200
Disco Corp.
89,100
Lasertec Corp.
244,556
Sanken Electric Co., Ltd.
712,000
Shinko Electric Industries Co., Ltd.
853,810
Tokyo Electron Ltd.
602,353
Tokyo Seimitsu Co., Ltd.
119,000
8,473,083
5,554,421
2,759,373
5,046,949
6,176,516
36,994,540
2,099,558
Total Semiconductors & Semiconductor
Equipment
Software – 0.9%
Capcom Co., Ltd.
Konami Corp.
Square Enix Holdings Co., Ltd.
Trend Micro, Inc.
67,104,440
1,407,400
1,099,100
1,082,200
1,021,608
26,758,161
25,453,741
22,330,193
31,694,301
323,400
343,635
TOTAL INVESTMENTS IN SECURITIES – 98.7%
(Cost: $11,366,659,499)
Cash, Foreign Currency and Other Assets in
Excess of Liabilities – 1.3%
*
Non-income producing security.
117,555,751
11,611,883
129,167,634
Technology Hardware, Storage & Peripherals – 6.2%
Brother Industries Ltd.
2,115,093
Canon, Inc.
16,969,256
Konica Minolta, Inc.
3,351,138
Ricoh Co., Ltd.
6,074,678
RISO KAGAKU Corp.
234,914
Roland DG Corp.
97,800
Seiko Epson Corp.
1,106,954
Toshiba TEC Corp.
1,252,531
Wacom Co., Ltd.
880,000
29,636,153
525,794,008
31,336,077
70,193,396
5,823,522
3,879,332
34,503,300
7,139,250
6,195,077
Total Technology Hardware, Storage &
Peripherals
714,500,115
1,009,692
319,081
615,000
1,664,653
735,000
342,910
Total Textiles, Apparel & Luxury Goods
Tobacco – 3.4%
Japan Tobacco, Inc.
Total Trading Companies & Distributors
106,236,396
Total Specialty Retail
Textiles, Apparel & Luxury Goods – 0.3%
Asics Corp.
Descente Ltd.
Japan Vilene Co., Ltd.
Kurabo Industries Ltd.
Seiko Holdings Corp.
Seiren Co., Ltd.
Trading Companies & Distributors – 10.7%
Daiichi Jitsugyo Co., Ltd.
Hanwa Co., Ltd.
Inabata & Co., Ltd.
ITOCHU Corp.
Kuroda Electric Co., Ltd.
Marubeni Corp.
MISUMI Group, Inc.
Mitsubishi Corp.
Mitsui & Co., Ltd.
Nagase & Co., Ltd.
Nippon Steel & Sumikin Bussan Corp.
Sojitz Corp.
Sumitomo Corp.
Toyota Tsusho Corp.
NET ASSETS – 100.0%
Total Software
Specialty Retail – 1.1%
Fast Retailing Co., Ltd.
Sanrio Co., Ltd.
Investments
19,892,849
2,515,840
3,487,498
3,006,510
2,933,291
2,826,922
34,662,910
12,426,945
390,962,779
See Notes to Financial Statements.
64 WisdomTree International Dividend and Sector Funds
Shares
290,000
3,204,000
748,486
16,291,994
337,187
19,101,278
362,900
16,298,000
20,622,489
1,343,900
1,846,000
7,270,658
14,645,277
2,041,010
Value
$
1,292,518
12,444,531
7,645,844
190,786,472
5,471,083
128,535,084
10,078,108
303,218,605
292,161,106
16,638,078
5,933,155
12,425,458
186,718,927
51,924,515
1,225,273,484
11,298,513,697
143,310,037
$11,441,823,734
Schedule of Investments
WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
March 31, 2014
Investments
COMMON STOCKS – 98.3%
Australia – 1.6%
Ansell Ltd.
CSL Ltd.
Orica Ltd.
REA Group Ltd.
Seek Ltd.
TPG Telecom Ltd.
Shares
2,117
6,034
13,767
1,760
7,328
14,854
Total Australia
Austria – 0.8%
Andritz AG
OMV AG
2,003
7,746
147,000
43,716
5,100
5,308
18,520
9,900
6,600
600
1,428
1,500
2,700
912
1,600
600
565
31,600
9,000
9,400
Total Chile
123,828
351,612
1,104,210
337,484
47,689
64,406
593,477
50,674
39,778
6,079
21,010
9,466
76,842
36,941
10,920
7,445
4,915
288,482
219,007
132,054
3,050,879
1,905
351
9,800
1,400
8,900
2,600
600
700
12,600
1,700
1,600
600
4,500
1,800
Total Canada
Chile – 0.3%
CFR Pharmaceuticals S.A.
S.A.C.I. Falabella
36,123
389,022
279,188
79,524
119,335
91,553
475,440
Total Brazil
Canada – 3.2%
Agrium, Inc.
Alimentation Couche-Tard, Inc. Class B
Canadian National Railway Co.
Canadian Pacific Railway Ltd.
Eldorado Gold Corp.
Ensign Energy Services, Inc.
Gildan Activewear, Inc.
MacDonald Dettwiler & Associates Ltd.
Potash Corp. of Saskatchewan, Inc.
Ritchie Bros. Auctioneers, Inc.
Saputo, Inc.
ShawCor Ltd.
Silver Wheaton Corp.
Tim Hortons, Inc.
$
994,745
Total Austria
Brazil – 4.9%
Ambev S.A.
CCR S.A.
Cia de Saneamento Basico do Estado de Sao Paulo
Cia Hering
Cielo S.A.
Duratex S.A.
EcoRodovias Infraestrutura e Logistica S.A.
Estacio Participacoes S.A.
Localiza Rent a Car S.A.
Lojas Americanas S.A.
Lojas Renner S.A.
M Dias Branco S.A.
Marisa Lojas S.A.
Mills Estruturas e Servicos de Engenharia S.A.
Raia Drogasil S.A.
Souza Cruz S.A.
Ultrapar Participacoes S.A.
WEG S.A.
Value
185,935
28,433
551,464
210,111
49,590
38,491
30,284
55,379
456,511
41,154
80,728
25,060
102,251
99,707
1,955,098
78,995
18,263
15,792
160,028
175,820
Investments
Shares
China – 2.1%
Air China Ltd. Class H
Anhui Conch Cement Co., Ltd. Class H
China International Marine Containers Group Co.,
Ltd. Class H
Far East Horizon Ltd.
Great Wall Motor Co., Ltd. Class H
PetroChina Co., Ltd. Class H
Ping An Insurance Group Co. of China Ltd. Class H
Shandong Weigao Group Medical Polymer Co., Ltd.
Class H
Tsingtao Brewery Co., Ltd. Class H
Wumart Stores, Inc. Class H
Zhuzhou CSR Times Electric Co., Ltd. Class H
34,000
17,500
Value
$
20,075
75,012
24,300
117,000
15,000
636,000
23,500
56,325
85,973
75,222
692,815
194,797
28,000
2,000
7,250
16,500
31,909
14,632
7,066
55,623
Total China
1,309,449
Denmark – 3.3%
Coloplast A/S Class B
GN Store Nord A/S
Novo Nordisk A/S Class B
Novozymes A/S Class B
2,015
633
39,075
2,444
Total Denmark
163,112
15,717
1,780,268
107,514
2,066,611
Finland – 1.3%
Kone Oyj Class B
Nokian Renkaat Oyj
Wartsila Oyj Abp
9,528
4,090
3,858
Total Finland
399,737
165,447
209,661
774,845
France – 1.4%
Bureau Veritas S.A.
Hermes International
Iliad S.A.
JC Decaux S.A.
SEB S.A.
Technip S.A.
Vallourec S.A.
6,369
703
77
3,254
694
1,482
1,647
Total France
195,356
234,089
22,212
142,595
59,915
153,009
89,448
896,624
Germany – 5.0%
CTS Eventim AG
Fielmann AG
Hugo Boss AG
Infineon Technologies AG
MTU Aero Engines AG
SAP AG
Symrise AG
United Internet AG Registered Shares
Volkswagen AG
Wacker Chemie AG
Wirecard AG
585
747
1,765
13,238
530
12,829
1,923
2,301
4,571
366
1,004
Total Germany
39,024
100,412
234,941
158,040
49,278
1,038,969
96,103
108,096
1,159,196
44,708
41,679
3,070,446
Hong Kong – 4.4%
China Everbright International Ltd.
China Overseas Grand Oceans Group Ltd.
China Overseas Land & Investment Ltd.
28,000
18,000
110,000
38,334
11,834
285,031
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 65
Schedule of Investments (continued)
WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
March 31, 2014
Investments
Shares
China Resources Enterprise Ltd.
Franshion Properties China Ltd.
Hang Seng Bank Ltd.
Hong Kong & China Gas Co., Ltd.
Hongkong & Shanghai Hotels (The)
Hysan Development Co., Ltd.
Lenovo Group Ltd.
SJM Holdings Ltd.
Techtronic Industries Co., Ltd.
Wharf Holdings Ltd.
Yuexiu Property Co., Ltd.
12,000
182,000
60,900
125,535
12,500
22,000
154,000
113,536
12,000
53,000
310,000
Total Hong Kong
India – 0.6%
Infosys Ltd. ADR
Tata Motors Ltd. ADR
5,692
1,800
Italy – 0.2%
DiaSorin SpA
Salvatore Ferragamo SpA
Tod’s SpA
Investments
Shares
33,879
60,768
969,589
273,822
16,630
95,719
170,139
319,076
33,415
338,892
63,942
Japan – 3.8%
Dena Co., Ltd.
Fast Retailing Co., Ltd.
Fuji Heavy Industries Ltd.
Idemitsu Kosan Co., Ltd.
Japan Tobacco, Inc.
JGC Corp.
Kakaku.com, Inc.
KDDI Corp.
Komatsu Ltd.
Nippon Shokubai Co., Ltd.
Nitto Denko Corp.
Otsuka Corp.
Sanrio Co., Ltd.
SCSK Corp.
Sysmex Corp.
Unicharm Corp.
Wacom Co., Ltd.
2,400
600
3,500
2,400
18,600
3,000
800
11,300
12,300
3,000
1,800
500
600
1,800
1,000
500
1,500
308,393
63,738
372,131
34,000
109,500
912,296
195,500
350,001
504,089
68,500
65,953
63,500
68,500
19,000
58,500
44,500
42,500
80,501
537,000
85,500
2,230
110,500
660,500
178,000
99,000
196,000
2,464,500
79,000
97,400
Total Indonesia
Ireland – 0.1%
Dragon Oil PLC
Value
2,711,070
Total India
Indonesia – 5.5%
PT AKR Corporindo Tbk
PT Alam Sutera Realty Tbk
PT Astra International Tbk
PT Bank Central Asia Tbk
PT Bank Mandiri Persero Tbk
PT Bank Rakyat Indonesia Persero Tbk*
PT Bumi Serpong Damai
PT Charoen Pokphand Indonesia Tbk
PT Ciputra Development Tbk
PT Global Mediacom Tbk
PT Gudang Garam Tbk
PT Indocement Tunggal Prakarsa Tbk
PT Indofood CBP Sukses Makmur Tbk
PT Japfa Comfeed Indonesia Tbk
PT Jasa Marga Persero Tbk
PT Kalbe Farma Tbk
PT Lippo Karawaci Tbk
PT Mayora Indah Tbk
PT Media Nusantara Citra Tbk
PT Perusahaan Gas Negara Persero Tbk
PT Semen Indonesia Persero Tbk
PT Summarecon Agung Tbk
PT Surya Citra Media Tbk
PT Telekomunikasi Indonesia Persero Tbk
PT Unilever Indonesia Tbk
PT United Tractors Tbk
$
14,471
5,735
592,270
182,421
291,154
424,882
9,859
23,194
6,484
14,170
82,623
120,373
39,564
5,275
42,518
69,252
8,166
5,889
25,582
297,981
247,571
9,281
55,211
480,534
203,411
177,910
3,435,781
8,357
594
1,522
490
Total Italy
76,480
25,502
44,828
63,651
133,981
Total Japan
Malaysia – 0.4%
AirAsia Bhd
Bumi Armada Bhd
Dialog Group Bhd
Kuala Lumpur Kepong Bhd
Nestle (Malaysia) Bhd
Norway – 0.2%
Aker Solutions ASA
Philippines – 0.6%
Ayala Land, Inc.
International Container Terminal Services, Inc.
Jollibee Foods Corp.
Petron Corp.
Semirara Mining Corp.
43,439
218,100
94,887
49,382
585,173
104,578
13,043
655,715
255,352
35,510
86,378
65,446
20,275
48,607
31,946
26,766
10,560
27,956
23,469
19,019
119,314
79,636
269,394
12,500
1,700
4,400
27,000
10,640
177,774
47,200
187,800
74,701
7,070
48,192
251,631
28,735
561,711
126,457
445,870
1,544,367
1,174
2,747
395
2,746
1,669
27,546
Total Netherlands
See Notes to Financial Statements.
66 WisdomTree International Dividend and Sector Funds
35,800
19,600
17,300
16,100
3,900
Total Mexico
Netherlands – 2.8%
Arcadis N.V.
ASML Holding N.V.
Gemalto N.V.
Heineken Holding N.V.
Koninklijke Vopak N.V.
Unilever N.V.
$
2,345,157
Total Malaysia
Mexico – 2.5%
Arca Continental S.A.B de C.V.
Controladora Comercial Mexicana S.A.B de C.V.
El Puerto de Liverpool S.A.B de C.V.
Fomento Economico Mexicano S.A.B de C.V.
Grupo Bimbo S.A.B de C.V. Series A
Grupo Mexico S.A.B. de C.V. Series B
Kimberly-Clark de Mexico S.A.B de C.V. Class A
Wal-Mart de Mexico S.A.B de C.V. Series V
Value
45,168
254,536
46,024
177,369
93,231
1,132,694
1,749,022
8,685
135,271
86,900
19,610
6,690
30,600
12,000
57,940
47,227
25,510
8,011
109,711
Schedule of Investments (continued)
WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
March 31, 2014
Investments
SM Prime Holdings, Inc.
Universal Robina Corp.
Shares
217,500
22,120
Total Philippines
Portugal – 0.4%
Galp Energia, SGPS, S.A.
Jeronimo Martins, SGPS, S.A.
10,753
5,059
1,832
27,742
105,806
4,061
16,535
43,000
35,000
50,000
29,000
5,000
6,606
2,088
8,135
5,311
25,637
2,211
5,390
62,169
4,934
3,046
2,696
13,612
18,082
Investments
Shares
Elekta AB Class B
Hennes & Mauritz AB Class B
Scania AB Class B
SKF AB Class B
Volvo AB Class A
Volvo AB Class B
3,095
47,957
9,623
9,484
14,164
32,419
Total Sweden
79,651
103,387
51,847
Switzerland – 10.4%
Aryzta AG*
Cie Financiere Richemont S.A.
Geberit AG
Partners Group Holding AG
Roche Holding AG
Roche Holding AG – Genusschein
Schindler Holding AG
Schindler Holding AG Participating Shares
Sonova Holding AG*
Swatch Group AG (The)
Syngenta AG
343
2,483
394
353
3,635
12,476
927
434
657
257
1,718
Total Switzerland
Taiwan – 3.6%
Largan Precision Co., Ltd.
President Chain Store Corp.
Taiwan Semiconductor Manufacturing Co., Ltd.
5,337
8,802
10,719
627
19,801
10,678
9,225
30,326
237,239
129,125
99,264
1,085,336
3,742,729
136,319
64,018
96,094
161,180
650,170
2,000
13,000
521,000
94,574
91,782
2,027,370
2,213,726
Thailand – 3.2%
Advanced Info Service PCL NVDR
Central Pattana PCL NVDR
CP ALL PCL
Home Product Center PCL NVDR
Indorama Ventures PCL
Intouch Holdings PCL NVDR
Jasmine International PCL NVDR
Minor International PCL NVDR
Robinson Department Store PCL NVDR
Siam Cement PCL NVDR
Thai Union Frozen Products PCL NVDR
102,245
90,450
183,756
243,077
192,025
43,553
215,646
185,127
72,617
7,000
90,230
712,311
131,047
246,405
73,058
135,554
103,714
52,516
141,527
118,081
90,197
191,224
1,995,634
48,783
1,321,104
68,992
32,808
1,471,687
Total Turkey
570,189
291,837
140,007
41,172
2,041,495
282,298
242,382
227,854
514,020
6,431,800
Total Taiwan
Turkey – 0.6%
Anadolu Efes Biracilik ve Malt Sanayii A.S.
Aselsan Elektronik Sanayi ve Ticaret A.S.
BIM Birlesik Magazalar A.S.
Coca-Cola Icecek A.S.
Koza Altin Isletmeleri A.S.
TAV Havalimanlari Holding A.S.
Turk Hava Yollari
Ulker Biskuvi Sanayi A.S.
234,885
Value
$
4,351,254
Total Thailand
1,135
3,550
814
Total Spain
Sweden – 7.0%
Atlas Copco AB Class A
Atlas Copco AB Class B
Boliden AB
174,862
38,612
82,874
95,183
93,867
28,904
80,666
1,274,069
74,682
35,192
69,790
99,975
126,152
2,274,828
Total South Korea
Spain – 2.4%
Distribuidora Internacional de Alimentacion S.A.
Inditex S.A.
Prosegur Cia de Seguridad S.A.
Viscofan S.A.
114,890
96,577
161,027
160,041
13,837
546,372
Total South Africa
South Korea – 0.4%
Coway Co., Ltd.
Kangwon Land, Inc.
KEPCO Plant Service & Engineering Co., Ltd.
100,394
780,937
1,759,554
446,710
392,375
3,479,970
Total Singapore
South Africa – 3.7%
Bidvest Group Ltd.
Capitec Bank Holdings Ltd.
Foschini Group Ltd. (The)
Imperial Holdings Ltd.
Life Healthcare Group Holdings Ltd.
Massmart Holdings Ltd.
Mr. Price Group Ltd.
MTN Group Ltd.
Shoprite Holdings Ltd.
Spar Group Ltd. (The)
Tiger Brands Ltd.
Truworths International Ltd.
Woolworths Holdings Ltd.
185,773
84,926
270,699
Total Russia
Singapore – 0.9%
Keppel Land Ltd.
M1 Ltd.
SembCorp Marine Ltd.
Singapore Exchange Ltd.
Super Group Ltd.
70,810
70,042
389,251
Total Portugal
Russia – 5.6%
Magnit OJSC Reg S GDR
MegaFon OAO GDR
MMC Norilsk Nickel OJSC ADR
NovaTek OAO Reg S GDR
Uralkali OJSC Reg S GDR
Value
$
5,557
6,239
3,296
722
3,518
9,457
16,948
6,019
61,825
25,111
74,265
17,382
30,506
76,038
52,210
42,346
379,683
United Kingdom – 15.1%
Admiral Group PLC
AMEC PLC
ARM Holdings PLC
6,368
8,397
6,137
151,602
157,069
102,108
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 67
Schedule of Investments (concluded)
WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
March 31, 2014
Investments
Shares
Aveva Group PLC
Berkeley Group Holdings PLC
BG Group PLC
British American Tobacco PLC
Burberry Group PLC
Capita PLC
Compass Group PLC
Croda International PLC
Diageo PLC
Dunelm Group PLC
Fresnillo PLC
Hargreaves Lansdown PLC
Hikma Pharmaceuticals PLC
InterContinental Hotels Group PLC
Intertek Group PLC
ITV PLC
John Wood Group PLC
Next PLC
Reckitt Benckiser Group PLC
Rotork PLC
Smiths Group PLC
Spirax-Sarco Engineering PLC
TalkTalk Telecom Group PLC
Taylor Wimpey PLC
Unilever PLC
Victrex PLC
Weir Group PLC (The)
Whitbread PLC
1,082
630
37,368
41,139
6,122
12,483
35,396
2,915
32,205
2,127
20,179
6,083
1,487
4,598
1,780
58,315
3,714
2,486
11,293
996
8,860
1,093
29,251
13,718
21,335
1,854
2,686
2,433
Total United Kingdom
37,773
27,518
696,181
2,287,649
142,378
228,089
539,946
123,729
999,182
33,528
283,765
147,860
41,177
147,715
91,162
186,176
47,491
273,539
920,082
43,953
187,887
52,661
156,197
26,941
910,913
62,096
113,561
168,818
9,388,746
TOTAL COMMON STOCKS
(Cost: $55,048,505)
EXCHANGE-TRADED FUNDS & NOTES – 1.2%
United States – 1.2%
iPath MSCI India Index ETN*
WisdomTree DEFA Fund(a)
WisdomTree Emerging Markets Equity Income Fund(a)
Value
$
60,971,146
11,107
783
587
TOTAL EXCHANGE-TRADED FUNDS & NOTES
(Cost: $655,424)
TOTAL INVESTMENTS IN SECURITIES – 99.5%
(Cost: $55,703,929)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.5%
NET ASSETS – 100.0%
673,417
42,807
28,804
745,028
61,716,174
295,412
$62,011,586
ADR – American Depositary Receipt
ETN – Exchange Traded Note
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
(a) Affiliated company (See Note 7).
See Notes to Financial Statements.
68 WisdomTree International Dividend and Sector Funds
Schedule of Investments
WisdomTree Japan SmallCap Dividend Fund (DFJ)
March 31, 2014
Investments
COMMON STOCKS – 98.5%
Japan – 98.5%
Air Freight & Logistics – 0.5%
Kintetsu World Express, Inc.
Mitsui-Soko Co., Ltd.
Shibusawa Warehouse Co., Ltd. (The)
Yusen Logistics Co., Ltd.
Shares
11,783
78,090
34,000
29,300
Total Air Freight & Logistics
Auto Components – 5.2%
Aisan Industry Co., Ltd.
Akebono Brake Industry Co., Ltd.
Calsonic Kansei Corp.
Daido Metal Co., Ltd.
Eagle Industry Co., Ltd.
EXEDY Corp.
FCC Co., Ltd.
Keihin Corp.
Kinugawa Rubber Industrial Co., Ltd.
KYB Co., Ltd.
Musashi Seimitsu Industry Co., Ltd.
Nifco, Inc.
Nissan Shatai Co., Ltd.
Nissin Kogyo Co., Ltd.
Pacific Industrial Co., Ltd.
Press Kogyo Co., Ltd.
Riken Corp.
Sanden Corp.
Sanoh Industrial Co., Ltd.
Showa Corp.
Taiho Kogyo Co., Ltd.
Takata Corp.
Tokai Rika Co., Ltd.
Tokai Rubber Industries Ltd.
Topre Corp.
Toyo Tire & Rubber Co., Ltd.
TPR Co., Ltd.
Unipres Corp.
$
524,592
312,406
127,436
370,429
1,334,863
30,800
97,332
151,000
35,000
17,000
34,425
29,768
45,021
38,372
116,400
19,105
42,486
25,437
44,800
36,100
84,000
115,687
137,963
34,997
52,600
20,700
38,100
49,558
67,200
36,900
124,682
19,700
23,803
Total Auto Components
Banks – 9.8%
77 Bank Ltd. (The)
Akita Bank Ltd. (The)
Aomori Bank Ltd. (The)
Awa Bank Ltd. (The)
Bank of Iwate Ltd. (The)
Bank of Nagoya Ltd. (The)
Bank of Okinawa Ltd. (The)
Bank of Saga Ltd. (The)
Bank of the Ryukyus Ltd.
Chukyo Bank Ltd. (The)
Daisan Bank Ltd. (The)
Daishi Bank Ltd. (The)
Ehime Bank Ltd. (The)
Eighteenth Bank Ltd. (The)
Value
236,866
436,640
702,326
368,403
262,631
965,377
530,988
657,490
159,472
492,794
394,214
1,202,983
427,058
837,404
242,571
305,054
468,432
616,235
219,528
579,195
196,578
959,668
834,428
689,716
395,568
885,008
301,090
428,748
14,796,465
258,000
33,466
50,622
144,378
15,000
142,691
14,000
11,448
43,508
256,000
15,083
345,552
229,144
133,046
1,162,422
96,838
140,091
769,661
726,077
558,377
592,028
24,900
580,050
449,930
26,509
1,271,682
491,730
291,969
Investments
Shares
FIDEA Holdings Co., Ltd.
Fukui Bank Ltd. (The)
Higashi-Nippon Bank Ltd. (The)
Higo Bank Ltd. (The)
Hokkoku Bank Ltd. (The)
Hokuetsu Bank Ltd. (The)
Hyakugo Bank Ltd. (The)
Hyakujushi Bank Ltd. (The)
Juroku Bank Ltd. (The)
Kagoshima Bank Ltd. (The)
Keiyo Bank Ltd. (The)
Kiyo Bank Ltd. (The)
Michinoku Bank Ltd. (The)
Mie Bank Ltd. (The)
Miyazaki Bank Ltd. (The)
Musashino Bank Ltd. (The)
Nanto Bank Ltd. (The)
Nishi-Nippon City Bank Ltd. (The)
North Pacific Bank Ltd.
Ogaki Kyoritsu Bank Ltd. (The)
Oita Bank Ltd. (The)
San-In Godo Bank Ltd. (The)
Senshu Ikeda Holdings, Inc.
Shiga Bank Ltd. (The)
Shikoku Bank Ltd. (The)
Tochigi Bank Ltd. (The)
Toho Bank Ltd. (The)
Tokyo Tomin Bank Ltd. (The)
TOMONY Holdings, Inc.
Towa Bank Ltd. (The)
Yachiyo Bank Ltd. (The)
Yamagata Bank Ltd. (The)
Yamanashi Chuo Bank Ltd. (The)
54,927
29,671
322,000
159,000
249,621
331,003
241,000
297,000
368,000
73,719
177,684
70,590
24,780
11,389
199,000
19,105
192,000
631,000
87,715
413,423
179,000
109,000
303,440
137,923
60,669
20,843
230,000
6,643
144,077
355,000
11,900
113,000
139,066
Total Banks
Value
$
104,003
73,180
794,174
849,153
875,013
694,243
992,222
1,020,906
1,286,401
468,864
759,149
906,151
51,252
25,546
606,749
634,453
725,232
1,421,489
356,873
1,132,061
696,985
738,768
1,387,777
749,982
124,890
88,646
750,401
68,955
600,175
348,157
326,084
481,691
629,264
27,951,153
Beverages – 0.4%
Sapporo Holdings Ltd.
283,992
1,119,588
Building Products – 2.6%
Aica Kogyo Co., Ltd.
Bunka Shutter Co., Ltd.
Central Glass Co., Ltd.
Nichias Corp.
Nichiha Corp.
Nitto Boseki Co., Ltd.
Noritz Corp.
Okabe Co., Ltd.
Sanwa Holdings Corp.
Sekisui Jushi Corp.
Takara Standard Co., Ltd.
Takasago Thermal Engineering Co., Ltd.
41,215
37,000
189,933
106,827
23,228
117,996
29,200
30,700
162,966
29,000
105,063
93,772
920,069
227,421
617,833
686,697
267,725
552,256
545,524
442,681
1,058,642
394,232
806,961
962,441
Total Building Products
Capital Markets – 0.8%
GCA Savvian Corp.
Ichiyoshi Securities Co., Ltd.
7,482,482
22,300
43,788
192,501
586,335
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 69
Schedule of Investments (continued)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
March 31, 2014
Investments
kabu.com Securities Co., Ltd.
Monex Group, Inc.
Toyo Securities Co., Ltd.
Shares
90,500
135,394
113,198
Value
$
Total Capital Markets
Chemicals – 6.8%
Achilles Corp.
ADEKA Corp.
Asahi Organic Chemicals Industry Co., Ltd.
Chugoku Marine Paints Ltd.
Dainichiseika Color & Chemicals Manufacturing
Co., Ltd.
Denki Kagaku Kogyo K.K.
Earth Chemical Co., Ltd.
Fujimi, Inc.
Fujimori Kogyo Co., Ltd.
Gun Ei Chemical Industry Co., Ltd.
JSP Corp.
Koatsu Gas Kogyo Co., Ltd.
Konishi Co., Ltd.
Kumiai Chemical Industry Co., Ltd.
Kureha Corp.
Lintec Corp.
Nihon Nohyaku Co., Ltd.
Nihon Parkerizing Co., Ltd.
Nippon Soda Co., Ltd.
Nippon Synthetic Chemical Industry Co., Ltd. (The)
Nippon Valqua Industries Ltd.
NOF Corp.
Okamoto Industries, Inc.
Riken Technos Corp.
Sakata INX Corp.
Sanyo Chemical Industries Ltd.
Shikoku Chemicals Corp.
Sumitomo Bakelite Co., Ltd.
Sumitomo Seika Chemicals Co., Ltd.
Taiyo Holdings Co., Ltd.
Takasago International Corp.
Takiron Co., Ltd.
Toagosei Co., Ltd.
Tokai Carbon Co., Ltd.
Tokuyama Corp.
Toyo Ink SC Holdings Co., Ltd.
Toyobo Co., Ltd.
2,123,754
Investments
Okamura Corp.
Sato Holdings Corp.
Toppan Forms Co., Ltd.
Uchida Yoko Co., Ltd.
Shares
75,676
22,138
100,600
71,000
Total Commercial Services & Supplies
223,000
78,725
36,124
66,000
309,647
909,674
81,729
469,758
68,714
454,000
20,700
34,500
9,000
32,000
22,023
39,000
10,000
25,000
191,648
48,265
30,388
25,000
99,091
61,860
75,688
132,000
8,436
35,000
54,000
94,176
26,000
212,092
73,000
26,791
36,787
78,000
221,000
194,974
122,012
247,512
656,531
319,600
1,560,577
754,756
431,145
234,384
120,251
340,658
215,857
177,404
159,004
908,134
922,324
458,837
579,696
539,788
445,096
210,194
957,460
28,506
199,155
511,239
604,460
187,833
817,600
491,227
794,742
212,896
321,891
948,507
662,629
400,447
1,002,209
1,032,753
Total Chemicals
Commercial Services & Supplies – 2.1%
Aeon Delight Co., Ltd.
Daiseki Co., Ltd.
Itoki Corp.
KOKUYO Co., Ltd.
Kyodo Printing Co., Ltd.
Matsuda Sangyo Co., Ltd.
Moshi Moshi Hotline, Inc.
NAC Co., Ltd.
429,718
527,193
388,007
19,322,067
45,300
6,907
33,800
100,903
85,049
21,800
101,000
10,900
854,667
119,381
213,004
739,737
241,145
263,543
929,728
170,933
Communications Equipment – 0.3%
Hitachi Kokusai Electric, Inc.
Construction & Engineering – 4.0%
Asunaro Aoki Construction Co., Ltd.
COMSYS Holdings Corp.
Kandenko Co., Ltd.
Kitano Construction Corp.
Kyowa Exeo Corp.
Kyudenko Corp.
Maeda Corp.
Maeda Road Construction Co., Ltd.
Mirait Holdings Corp.
Nippo Corp.
Nippon Densetsu Kogyo Co., Ltd.
Nippon Koei Co., Ltd.
Nippon Road Co., Ltd. (The)
Nippon Steel & Sumikin Texeng Co., Ltd.
Nishimatsu Construction Co., Ltd.
Okumura Corp.
Penta-Ocean Construction Co., Ltd.
Sumitomo Densetsu Co., Ltd.
Taikisha Ltd.
Toda Corp.
Toenec Corp.
Tokyo Energy & Systems Inc.
Toshiba Plant Systems & Services Corp.
Totetsu Kogyo Co., Ltd.
Toyo Engineering Corp.
Yurtec Corp.
Consumer Finance – 0.1%
Pocket Card Co., Ltd.
Containers & Packaging – 1.0%
Fuji Seal International, Inc.
Hokkan Holdings Ltd.
Nihon Yamamura Glass Co., Ltd.
Pack Corp. (The)
Rengo Co., Ltd.
Tomoku Co., Ltd.
See Notes to Financial Statements.
70 WisdomTree International Dividend and Sector Funds
60,948
733,258
43,500
72,013
185,138
105,651
75,266
32,890
93,087
44,694
16,400
35,358
26,000
68,000
40,291
23,296
180,037
140,853
68,093
12,600
23,565
154,549
77,000
37,000
33,000
15,079
77,554
97,000
248,366
1,131,398
940,207
264,679
969,100
263,797
587,528
624,505
143,959
489,247
350,672
340,050
184,270
80,982
583,894
629,144
232,079
156,972
512,099
508,735
423,936
179,997
492,829
280,100
356,951
373,928
11,349,424
228,404
947,017
35,600
196,001
20,005
69,000
128,000
21,400
220,000
74,000
682,794
191,620
226,208
409,361
1,183,473
210,535
Total Containers & Packaging
Distributors – 0.8%
Arata Corp.
Chori Co., Ltd.
Doshisha Co., Ltd.
Happinet Corp.
664,282
513,977
938,744
200,622
5,849,763
Total Construction & Engineering
Construction Materials – 0.3%
Sumitomo Osaka Cement Co., Ltd.
Value
$
2,903,991
59,838
24,100
32,000
19,100
197,552
263,032
494,053
159,870
Schedule of Investments (continued)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
March 31, 2014
Investments
Shares
Paltac Corp.
Sankyo Seiko Co., Ltd.
67,057
81,674
Total Distributors
Diversified Consumer Services – 0.2%
Meiko Network Japan Co., Ltd.
Riso Kyoiku Co., Ltd.
Studio Alice Co., Ltd.
Electrical Equipment – 2.1%
Daihen Corp.
Denyo Co., Ltd.
Fujikura Ltd.
Furukawa Electric Co., Ltd.
GS Yuasa Corp.
IDEC Corp.
Kyosan Electric Manufacturing Co., Ltd.
Nippon Carbon Co., Ltd.
Nissin Electric Co., Ltd.
Nitto Kogyo Corp.
Sanyo Denki Co., Ltd.
Tatsuta Electric Wire and Cable Co., Ltd.
Ushio, Inc.
22,786
65,049
18,660
244,709
161,067
235,730
641,506
10,100
342,764
Investments
Shares
Taiyo Yuden Co., Ltd.
Tomen Electronics Corp.
Topcon Corp.
UKC Holdings Corp.
30,500
18,019
21,100
11,700
Total Electronic Equipment, Instruments &
Components
Energy Equipment & Services – 0.4%
Modec, Inc.
Shinko Plantech Co., Ltd.
Toyo Kanetsu K.K.
78,000
13,700
150,715
264,000
186,000
41,536
76,000
127,000
60,765
29,500
32,000
26,320
77,575
311,288
230,806
690,756
658,814
987,930
390,011
257,552
241,705
313,900
620,450
207,253
136,475
1,003,349
6,050,289
49,500
68,435
71,554
47,100
187,200
55,800
263,396
17,900
5,389
25,134
23,200
34,000
37,100
14,847
11,700
45,182
66,100
35,700
58,791
20,000
11,400
42,911
69,723
37,100
37,300
22,800
874,788
708,372
1,770,351
823,227
1,412,384
442,130
460,371
310,428
303,502
236,001
876,322
509,084
513,351
165,792
347,075
358,438
430,675
312,334
744,414
123,319
197,260
185,419
475,946
784,977
250,272
374,152
Food & Staples Retailing – 3.8%
Ain Pharmaciez, Inc.
Arcs Co., Ltd.
Belc Co., Ltd.
Cawachi Ltd.
CREATE SD HOLDINGS Co., Ltd.
Heiwado Co., Ltd.
Izumiya Co., Ltd.
Kasumi Co., Ltd.
Kato Sangyo Co., Ltd.
Maruetsu, Inc. (The)
Matsumotokiyoshi Holdings Co., Ltd.
Ministop Co., Ltd.
Mitsubishi Shokuhin Co., Ltd.
S Foods, Inc.
San-A Co., Ltd.
Tsuruha Holdings, Inc.
UNY Group Holdings Co., Ltd.
Valor Co., Ltd.
Welcia Holdings Co., Ltd.
Yokohama Reito Co., Ltd.
18,704
63,908
100,558
377,011
287,821
346,664
202,337
474,388
495,825
256,802
1,227,015
8,181
40,594
18,300
18,900
11,400
34,063
17,970
56,679
31,316
98,000
34,300
9,600
32,800
39,000
14,300
9,381
277,600
30,991
7,700
48,228
Total Food & Staples Retailing
Food Products – 4.6%
Ariake Japan Co., Ltd.
Ezaki Glico Co., Ltd.
Fuji Oil Co., Ltd.
Fujicco Co., Ltd.
Hokuto Corp.
Itoham Foods, Inc.
J-Oil Mills, Inc.
Kagome Co., Ltd.
Kyokuyo Co., Ltd.
Marudai Food Co., Ltd.
Maruha Nichiro Corp.*
Mitsui Sugar Co., Ltd.
Morinaga & Co., Ltd.
Morinaga Milk Industry Co., Ltd.
Nichirei Corp.
Nippon Beet Sugar Manufacturing Co., Ltd.
Nippon Flour Mills Co., Ltd.
Nisshin Oillio Group Ltd. (The)
Rock Field Co., Ltd.
Value
$
15,204,217
Total Energy Equipment & Services
Total Electrical Equipment
Electronic Equipment, Instruments &
Components – 5.4%
Ai Holdings Corp.
Amano Corp.
Azbil Corp.
Canon Electronics, Inc.
Citizen Holdings Co., Ltd.
CONEXIO Corp.
Daiwabo Holdings Co., Ltd.
Elematec Corp.
Enplas Corp.
Hakuto Co., Ltd.
HORIBA Ltd.
Japan Aviation Electronics Industry Ltd.
Kaga Electronics Co., Ltd.
KOA Corp.
Macnica, Inc.
Nichicon Corp.
Nidec Copal Electronics Corp.
Nippon Signal Co., Ltd. (The)
Nohmi Bosai Ltd.
Ohara, Inc.
OPTEX Co., Ltd.
Panasonic Industrial Devices SUNX Co., Ltd.
Ryoden Trading Co., Ltd.
Ryosan Co., Ltd.
Sanshin Electronics Co., Ltd.
SIIX Corp.
766,384
297,400
2,178,291
Total Diversified Consumer Services
Electric Utilities – 0.1%
Okinawa Electric Power Co., Inc. (The)
Value
$
379,320
793,866
347,928
360,070
386,328
479,928
90,387
384,152
667,462
350,187
1,094,096
155,580
744,955
414,293
422,814
924,573
1,655,061
390,303
434,403
402,271
10,877,977
25,928
71,726
57,600
34,000
40,991
123,000
169,981
45,300
118,000
172,000
36,532
69,492
336,439
268,411
235,096
192,000
154,766
216,477
12,200
602,725
952,075
739,401
410,370
854,568
561,344
453,899
769,332
300,199
511,065
592,401
265,863
738,314
865,295
995,309
372,870
849,083
706,280
231,834
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 71
Schedule of Investments (continued)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
March 31, 2014
Investments
Sakata Seed Corp.
Showa Sangyo Co., Ltd.
Starzen Co., Ltd.
Yonekyu Corp.
Shares
30,100
175,000
108,000
7,520
Value
$
Total Food Products
Gas Utilities – 0.5%
Hokkaido Gas Co., Ltd.
Saibu Gas Co., Ltd.
Shizuoka Gas Co., Ltd.
13,108,062
100,000
356,362
44,392
12,935
10,100
7,900
25,926
21,983
25,000
14,021
11,600
60,000
12,307
25,600
41,484
436,472
558,722
473,231
542,898
313,794
2,325,117
10,300
37,153
27,402
9,018
14,925
15,000
45,468
68,008
102,237
28,800
8,859
60,000
114,424
20,760
24,429
71,219
Total Hotels, Restaurants & Leisure
Household Durables – 1.9%
Cleanup Corp.
Foster Electric Co., Ltd.
France Bed Holdings Co., Ltd.
Fujitsu General Ltd.
Iida Group Holdings Co., Ltd.
JVC KENWOOD Corp.*
Misawa Homes Co., Ltd.
225,202
517,823
328,319
554,092
878,381
278,196
439,071
3,221,084
Total Health Care Providers & Services
Hotels, Restaurants & Leisure – 2.8%
Aeon Fantasy Co., Ltd.
Doutor Nichires Holdings Co., Ltd.
Fuji Kyuko Co., Ltd.
Ichibanya Co., Ltd.
Kyoritsu Maintenance Co., Ltd.
MOS Food Services, Inc.
Plenus Co., Ltd.
Resorttrust, Inc.
Round One Corp.
Saizeriya Co., Ltd.
St. Marc Holdings Co., Ltd.
Tokyo Dome Corp.
Tokyotokeiba Co., Ltd.
Toridoll.corp.
WATAMI Co., Ltd.
Zensho Holdings Co., Ltd.
274,797
903,146
271,564
1,449,507
Total Health Care Equipment & Supplies
Health Care Providers & Services – 0.8%
BML, Inc.
Nichii Gakkan Co.
Ship Healthcare Holdings, Inc.
Toho Holdings Co., Ltd.
Vital KSK Holdings, Inc.
Investments
PanaHome Corp.
Pressance Corp.
Tamron Co., Ltd.
TOA Corp.
Token Corp.
Shares
134,177
7,200
24,166
21,852
7,670
Total Household Durables
Total Gas Utilities
Health Care Equipment & Supplies – 1.1%
EIKEN CHEMICAL Co., Ltd.
Hogy Medical Co., Ltd.
Mani, Inc.
Nagaileben Co., Ltd.
Nihon Kohden Corp.
Nikkiso Co., Ltd.
Paramount Bed Holdings Co., Ltd.
415,031
572,656
289,440
58,708
131,519
655,503
282,308
372,594
504,336
302,666
1,059,161
1,054,608
877,579
358,235
436,993
308,783
342,211
197,753
357,474
699,154
7,940,877
35,100
11,100
188,000
51,000
102,670
114,700
14,700
353,096
135,375
352,323
493,237
1,424,629
277,325
189,415
Household Products – 0.8%
Lion Corp.
Pigeon Corp.
923,741
187,088
573,733
222,159
349,297
5,481,418
208,013
20,894
Total Household Products
1,234,121
945,439
2,179,560
Industrial Conglomerates – 0.4%
Nisshinbo Holdings, Inc.
116,000
993,465
Internet & Catalog Retail – 0.9%
ASKUL Corp.
Belluna Co., Ltd.
Senshukai Co., Ltd.
Start Today Co., Ltd.
30,165
75,584
35,876
40,801
951,947
375,773
293,320
1,047,114
Total Internet & Catalog Retail
Internet Software & Services – 0.6%
GMO Internet, Inc.
Gurunavi, Inc.
Internet Initiative Japan, Inc.
2,668,154
72,772
46,200
11,900
Total Internet Software & Services
IT Services – 1.6%
Ines Corp.
Information Services International-Dentsu Ltd.
IT Holdings Corp.
NEC Networks & System Integration Corp.
NET One Systems Co., Ltd.
Nihon Unisys, Ltd.
NS Solutions Corp.
Leisure Products – 0.9%
Daikoku Denki Co., Ltd.
Dunlop Sports Co., Ltd.
Mars Engineering Corp.
Mizuno Corp.
TOMY Co., Ltd.
25,110
23,800
54,200
35,679
141,258
58,000
44,390
Machinery – 7.2%
Aida Engineering Ltd.
Anest Iwata Corp.
Asahi Diamond Industrial Co., Ltd.
Bando Chemical Industries Ltd.
Chugai Ro Co., Ltd.
CKD Corp.
Daifuku Co., Ltd.
Fujitec Co., Ltd.
Furukawa Co., Ltd.
173,357
290,726
891,536
726,849
961,517
568,258
1,008,619
4,620,862
22,300
40,986
26,000
111,616
100,377
Total Leisure Products
Life Sciences Tools & Services – 0.1%
CMIC Holdings Co., Ltd.
727,119
650,483
287,837
1,665,439
Total IT Services
See Notes to Financial Statements.
72 WisdomTree International Dividend and Sector Funds
Value
$
482,443
498,271
490,537
629,693
465,895
2,566,839
12,239
205,122
66,900
37,000
54,100
74,787
80,000
30,641
61,704
61,561
147,000
637,916
233,529
689,744
307,906
180,997
292,768
764,522
835,080
265,495
Schedule of Investments (continued)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
March 31, 2014
Investments
Hitachi Koki Co., Ltd.
Hitachi Zosen Corp.
Iseki & Co., Ltd.
Kitz Corp.
Kyokuto Kaihatsu Kogyo Co., Ltd.
Makino Milling Machine Co., Ltd.
Meidensha Corp.
Minebea Co., Ltd.
Mitsuboshi Belting Co., Ltd.
Mitsui Engineering & Shipbuilding Co., Ltd.
Miura Co., Ltd.
Morita Holdings Corp.
Nachi-Fujikoshi Corp.
Nippon Sharyo Ltd.
Nippon Thompson Co., Ltd.
Nitta Corp.
Noritake Co., Ltd.
Obara Group, Inc.
Oiles Corp.
OKUMA Corp.
Organo Corp.
OSG Corp.
Ryobi Ltd.
Shinmaywa Industries Ltd.
Sintokogio, Ltd.
Sodick Co., Ltd.
Star Micronics Co., Ltd.
Tadano Ltd.
Tocalo Co., Ltd.
Torishima Pump Manufacturing Co., Ltd.
Toshiba Machine Co., Ltd.
Tsubakimoto Chain Co.
Tsugami Corp.
Tsukishima Kikai Co., Ltd.
Union Tool Co.
Shares
126,627
69,160
75,000
57,189
23,780
45,578
110,000
241,000
31,092
397,404
24,724
34,705
111,000
74,438
64,051
15,100
120,389
9,779
23,193
71,852
4,465
47,200
135,000
60,685
30,800
46,100
48,434
30,000
15,500
23,700
91,806
92,228
65,000
19,000
14,900
Total Machinery
Marine – 0.4%
Japan Transcity Corp.
Kawasaki Kisen Kaisha Ltd.
76,000
349,000
Investments
994,720
330,404
198,815
280,434
343,821
321,748
488,130
2,148,255
176,314
841,230
682,050
296,889
732,922
309,360
314,082
282,103
305,108
367,003
497,033
581,877
20,811
820,391
412,924
555,084
235,968
173,684
585,055
390,931
245,929
292,956
435,028
660,914
389,426
213,089
341,448
Kyoei Steel Ltd.
Mitsui Mining & Smelting Co., Ltd.
Neturen Co., Ltd.
Nippon Denko Co., Ltd.
Nisshin Steel Holdings Co., Ltd.
Nittetsu Mining Co., Ltd.
OSAKA Titanium Technologies Co.
Toho Zinc Co., Ltd.
Topy Industries Ltd.
Toyo Kohan Co., Ltd.
UACJ Corp.
234,675
755,712
990,387
13,539
30,499
38,518
37,789
13,400
66,313
24,387
Total Media
Metals & Mining – 2.2%
Aichi Steel Corp.
Asahi Holdings, Inc.
Kurimoto Ltd.
Value
20,473,893
Total Marine
Media – 1.2%
Asatsu-DK, Inc.
Avex Group Holdings, Inc.
CyberAgent, Inc.
Gakken Holdings Co., Ltd.
Kadokawa Corp.
Toei Co., Ltd.
Zenrin Co., Ltd.
$
280,416
536,920
1,477,362
105,311
430,033
399,224
246,747
3,476,013
148,480
47,000
73,000
585,356
764,432
161,616
Shares
21,414
260,000
33,200
52,641
29,928
73,000
14,800
98,967
190,000
88,905
394,632
Total Metals & Mining
Multiline Retail – 1.0%
Fuji Co., Ltd.
H2O Retailing Corp.
Izumi Co., Ltd.
Parco Co., Ltd.
17,700
108,000
40,000
64,027
143,581
285,473
21,800
60,916
131,771
100,560
38,478
190,632
143,000
34,204
17,653
27,706
1,125,907
639,372
1,104,366
2,869,645
9,400
6,911
99,261
53,585
17,611
21,400
28,000
17,724
11,000
28,600
Total Pharmaceuticals
Professional Services – 0.8%
Meitec Corp.
Nihon M&A Center, Inc.
274,383
462,924
958,852
319,367
2,015,526
Total Personal Products
Pharmaceuticals – 2.5%
Fuji Pharma Co., Ltd.
Fuso Pharmaceutical Industries Ltd.
Kaken Pharmaceutical Co., Ltd.
KYORIN Holdings, Inc.
Mochida Pharmaceutical Co., Ltd.
Nichi-iko Pharmaceutical Co., Ltd.
Nippon Shinyaku Co., Ltd.
Sawai Pharmaceutical Co., Ltd.
Towa Pharmaceutical Co., Ltd.
ZERIA Pharmaceutical Co., Ltd.
826,757
343,726
333,186
373,830
505,409
2,382,908
Total Paper & Forest Products
Personal Products – 1.0%
Kose Corp.
Mandom Corp.
Pola Orbis Holdings, Inc.
326,209
863,077
1,184,639
546,485
2,920,410
Total Oil, Gas & Consumable Fuels
Paper & Forest Products – 0.7%
Daiken Corp.
Daio Paper Corp.
Hokuetsu Kishu Paper Co., Ltd.
Tokushu Tokai Paper Co., Ltd.
380,518
600,864
212,124
140,567
256,604
286,372
256,954
300,788
335,777
436,820
1,632,405
6,351,197
Total Multiline Retail
Oil, Gas & Consumable Fuels – 0.8%
Itochu Enex Co., Ltd.
Nippon Coke & Engineering Co., Ltd.
Nippon Gas Co., Ltd.
San-Ai Oil Co., Ltd.
Sinanen Co., Ltd.
Value
$
184,650
24,427
1,572,986
1,025,548
1,263,731
330,398
532,077
1,089,410
475,846
582,081
7,081,154
46,400
9,816
1,320,115
263,450
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 73
Schedule of Investments (continued)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
March 31, 2014
Investments
Shares
Nomura Co., Ltd.
Temp Holdings Co., Ltd.
29,000
18,200
Value
$
Total Professional Services
Real Estate Management & Development – 1.0%
Airport Facilities Co., Ltd.
Daikyo, Inc.
Heiwa Real Estate Co., Ltd.
Jowa Holdings Co., Ltd.
Relo Holdings, Inc.
Tokyu Fudosan Holdings Corp.
2,294,120
59,219
175,000
22,768
18,200
11,846
56,800
Total Real Estate Management & Development
Road & Rail – 2.6%
Fukuyama Transporting Co., Ltd.
Hitachi Transport System Ltd.
Ichinen Holdings Co., Ltd.
Maruzen Showa Unyu Co., Ltd.
Nippon Konpo Unyu Soko Co., Ltd.
Nishi-Nippon Railroad Co., Ltd.
Sankyu, Inc.
Seino Holdings Co., Ltd.
Senko Co., Ltd.
Sotetsu Holdings, Inc.
157,059
54,000
25,200
85,000
55,560
220,000
241,532
89,560
120,156
268,000
945,542
878,808
191,352
287,226
981,343
833,131
907,636
854,857
522,696
983,677
7,386,268
Semiconductors & Semiconductor Equipment – 0.8%
Axell Corp.
Lasertec Corp.
MegaChips Corp.
Mimasu Semiconductor Industry Co., Ltd.
Sanken Electric Co., Ltd.
Shinko Electric Industries Co., Ltd.
Tokyo Seimitsu Co., Ltd.
22,600
14,900
21,000
25,027
82,000
87,253
9,900
Total Semiconductors & Semiconductor Equipment
370,869
168,119
246,735
223,332
581,250
631,194
174,669
2,396,168
70,413
20,691
11,556
94,300
41,400
Total Software
Specialty Retail – 4.3%
Adastria Holdings Co., Ltd.
Alpen Co., Ltd.
AOKI Holdings, Inc.
Arcland Sakamoto Co., Ltd.
Chiyoda Co., Ltd.
DCM Holdings Co., Ltd.
EDION Corp.
Gulliver International Co., Ltd.
Honeys Co., Ltd.
Joshin Denki Co., Ltd.
Keiyo Co., Ltd.
Kohnan Shoji Co., Ltd.
438,169
351,750
364,341
601,748
647,599
424,683
2,828,290
Total Road & Rail
Software – 1.5%
Capcom Co., Ltd.
DTS Corp.
Fuji Soft, Inc.
Square Enix Holdings Co., Ltd.
Systena Corp.
226,683
483,872
1,338,726
362,848
246,526
1,945,793
298,686
4,192,579
20,519
30,721
53,454
15,208
34,991
135,645
116,439
66,260
26,940
40,000
59,220
37,600
512,851
556,042
760,922
290,176
760,061
908,822
650,118
515,359
261,330
320,435
269,117
381,531
Investments
Shares
Komeri Co., Ltd.
Konaka Co., Ltd.
K’s Holdings Corp.
Kyoto Kimono Yuzen Co., Ltd.
Pal Co., Ltd.
Right On Co., Ltd.
Shimachu Co., Ltd.
T-Gaia Corp.
United Arrows Ltd.
Xebio Co., Ltd.
Yellow Hat Ltd.
28,737
29,500
37,674
6,300
13,300
31,000
43,564
98,000
21,129
30,189
13,700
Total Specialty Retail
Total Technology Hardware, Storage & Peripherals
Total Trading Companies & Distributors
See Notes to Financial Statements.
74 WisdomTree International Dividend and Sector Funds
380,704
488,264
329,228
927,111
2,125,307
42,153
100,000
84,834
69,000
71,025
198,766
187,433
153,260
37,000
47,111
146,000
14,200
Total Textiles, Apparel & Luxury Goods
Trading Companies & Distributors – 3.3%
Daiichi Jitsugyo Co., Ltd.
Hanwa Co., Ltd.
Inaba Denki Sangyo Co., Ltd.
Inabata & Co., Ltd.
Iwatani Corp.
Japan Pulp & Paper Co., Ltd.
Kamei Corp.
Kanamoto Co., Ltd.
Kuroda Electric Co., Ltd.
Mitani Corp.
Mitsui Matsushima Co., Ltd.
Nagase & Co., Ltd.
Nippon Steel & Sumikin Bussan Corp.
Onoken Co., Ltd.
Shinsho Corp.
Trusco Nakayama Corp.
Yamazen Corp.
Yuasa Trading Co., Ltd.
783,267
205,384
1,049,538
61,969
256,095
208,001
951,779
885,935
783,733
526,186
274,306
12,172,957
Technology Hardware, Storage & Peripherals – 0.8%
Melco Holdings, Inc.
25,862
Riso Kagaku Corp.
19,696
Roland DG Corp.
8,300
Toshiba TEC Corp.
162,655
Textiles, Apparel & Luxury Goods – 2.2%
Descente Ltd.
Fujibo Holdings, Inc.
Gunze Ltd.
Japan Vilene Co., Ltd.
Japan Wool Textile Co., Ltd. (The)
Kurabo Industries Ltd.
Onward Holdings Co., Ltd.
Sanyo Shokai Ltd.
Seiko Holdings Corp.
Seiren Co., Ltd.
Wacoal Holdings Corp.
Yondoshi Holdings, Inc.
Value
$
332,361
263,145
225,708
391,280
551,731
358,989
1,301,302
447,942
147,662
388,379
1,492,819
244,469
6,145,787
44,000
222,114
31,594
66,941
177,166
142,578
29,500
10,228
25,765
14,800
128,016
91,004
134,000
15,100
111,000
21,300
79,106
252,000
196,106
862,704
1,018,518
683,808
1,159,488
484,559
220,853
299,933
418,054
330,534
197,646
1,126,670
430,684
181,080
227,422
492,660
523,097
516,308
9,370,124
Schedule of Investments (concluded)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
March 31, 2014
Investments
Transportation Infrastructure – 0.5%
Japan Airport Terminal Co., Ltd.
Nissin Corp.
Sumitomo Warehouse Co., Ltd. (The)
Shares
19,700
93,000
115,538
Total Transportation Infrastructure
TOTAL INVESTMENTS IN SECURITIES – 99.0%
(Cost: $261,990,984)
Cash, Foreign Currency and Other Assets in
Excess of Liabilities – 1.0%
NET ASSETS – 100.0%
*
(a)
$
512,849
265,495
564,311
1,342,655
TOTAL COMMON STOCKS
(Cost: $260,573,355)
EXCHANGE-TRADED FUNDS – 0.5%
WisdomTree Japan Hedged Equity Fund(a)
(Cost: $1,417,629)
Value
279,872,779
31,045
1,469,670
281,342,449
2,763,571
$284,106,020
Non-income producing security.
Affiliated company (See Note 7).
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 75
Schedule of Investments
WisdomTree Asia Pacific ex-Japan Fund (AXJL)
March 31, 2014
Investments
COMMON STOCKS – 97.0%
Australia – 23.8%
AGL Energy Ltd.
Amcor Ltd.
AMP Ltd.
Aurizon Holdings Ltd.
Australia & New Zealand Banking Group Ltd.
BHP Billiton Ltd.
Brambles Ltd.
Caltex Australia Ltd.
Coca-Cola Amatil Ltd.
Commonwealth Bank of Australia
Computershare Ltd.
Crown Resorts Ltd.
CSL Ltd.
Insurance Australia Group Ltd.
Leighton Holdings Ltd.
Macquarie Group Ltd.
National Australia Bank Ltd.
Origin Energy Ltd.
QBE Insurance Group Ltd.
Ramsay Health Care Ltd.
Rio Tinto Ltd.
Santos Ltd.
Sonic Healthcare Ltd.
Suncorp Group Ltd.
Sydney Airport
Telstra Corp., Ltd.
Wesfarmers Ltd.
Westpac Banking Corp.
Woodside Petroleum Ltd.
Woolworths Ltd.
Shares
497
16,599
6,806
8,957
28,817
55,273
22,072
3,264
7,767
18,134
6,518
10,783
2,907
18,893
6,800
2,438
25,288
16,139
2,552
153
7,416
13,348
5,498
13,769
39,852
351,364
26,585
37,826
12,445
20,639
Total Australia
China – 11.0%
Agricultural Bank of China Ltd. Class H
Bank of China Ltd. Class H
Bank of Communications Co., Ltd. Class H
China CITIC Bank Corp., Ltd. Class H
China Construction Bank Corp. Class H
China Life Insurance Co., Ltd. Class H
China Longyuan Power Group Corp. Class H
China Merchants Bank Co., Ltd. Class H
China Minsheng Banking Corp., Ltd. Class H
China National Building Material Co., Ltd. Class H
China Pacific Insurance (Group) Co., Ltd. Class H
China Petroleum & Chemical Corp. Class H
China Shenhua Energy Co., Ltd. Class H
China Telecom Corp., Ltd. Class H
Dongfeng Motor Group Co., Ltd. Class H
Great Wall Motor Co., Ltd. Class H
Guangzhou R&F Properties Co., Ltd. Class H
Industrial & Commercial Bank of China, Ltd.
Class H
Value
$
6,993
159,848
31,415
42,671
883,001
1,868,351
189,436
66,828
79,403
1,301,573
73,099
166,204
187,419
97,536
133,048
130,902
831,118
213,756
30,323
6,825
436,812
167,017
88,005
164,244
154,765
1,654,362
1,014,934
1,211,640
450,082
683,297
12,524,907
213,000
691,100
153,955
88,500
2,805,100
26,191
66,800
71,029
47,467
83,100
16,671
837,020
70,400
689,800
100,000
7,000
47,900
92,811
306,480
100,625
50,998
1,963,594
74,112
67,256
128,743
47,607
83,346
59,531
748,857
203,294
319,243
141,549
35,104
69,037
884,900
544,147
Investments
PetroChina Co., Ltd. Class H
PICC Property & Casualty Co., Ltd. Class H
Shandong Weigao Group Medical Polymer Co., Ltd.
Class H
Sinopharm Group Co., Ltd. Class H
32,000
10,300
Total China
Hong Kong – 19.0%
AIA Group Ltd.
Bank of East Asia Ltd.
Beijing Enterprises Holdings Ltd.
BOC Hong Kong Holdings Ltd.
Cathay Pacific Airways Ltd.
Cheung Kong Holdings Ltd.
China Merchants Holdings International Co., Ltd.
China Mobile Ltd.
China Overseas Land & Investment Ltd.
China Resources Power Holdings Co., Ltd.
China Unicom Hong Kong Ltd.
CLP Holdings Ltd.
CNOOC Ltd.
Fosun International Ltd.
Guangdong Investment Ltd.
Hang Lung Group Ltd.
Hang Lung Properties Ltd.
Hang Seng Bank Ltd.
Henderson Land Development Co., Ltd.
HKT Trust and HKT Ltd.
Hong Kong & China Gas Co., Ltd.
Hutchison Whampoa Ltd.
Hysan Development Co., Ltd.
Lenovo Group Ltd.
MTR Corp., Ltd.
New World Development Co., Ltd.
Power Assets Holdings Ltd.
Sino Land Co., Ltd.
SJM Holdings Ltd.
Sun Art Retail Group Ltd.
Sun Hung Kai Properties Ltd.
Swire Properties Ltd.
Techtronic Industries Co., Ltd.
Wharf Holdings Ltd.
Wheelock & Co., Ltd.
India – 0.3%
Infosys Ltd. ADR
Indonesia – 3.8%
PT Astra International Tbk
PT Bank Central Asia Tbk
PT Bank Danamon Indonesia TbK
PT Bank Mandiri Persero Tbk
PT Bank Rakyat Indonesia Persero Tbk*
PT Charoen Pokphand Indonesia Tbk
PT Gudang Garam Tbk
Value
$
572,988
135,492
36,467
28,216
5,809,497
33,525
12,938
10,000
116,389
40,000
15,277
32,592
415,030
33,065
48,218
177,948
51,366
783,262
129,500
112,000
8,000
14,000
10,303
17,700
152,677
79,473
56,027
8,000
62,000
78,265
8,557
35,579
72,924
80,276
81,500
7,534
20,600
5,500
14,350
8,000
Total Hong Kong
See Notes to Financial Statements.
76 WisdomTree International Dividend and Sector Funds
Shares
526,000
98,966
159,045
50,538
89,596
331,595
74,564
253,269
111,973
3,798,755
85,678
125,564
233,990
387,378
1,177,359
162,771
106,989
40,273
40,247
164,034
103,251
161,002
173,350
741,773
34,807
68,498
289,570
8,604
308,453
107,171
225,603
102,439
92,268
58,690
15,315
91,757
31,249
10,007,418
2,639
142,981
588,461
131,500
37,685
171,300
147,500
43,953
14,800
382,033
122,702
14,430
142,499
124,323
15,457
64,359
Schedule of Investments (continued)
WisdomTree Asia Pacific ex-Japan Fund (AXJL)
March 31, 2014
Investments
PT Indocement Tunggal Prakarsa Tbk
PT Indofood CBP Sukses Makmur Tbk
PT Indofood Sukses Makmur Tbk
PT Kalbe Farma Tbk
PT Perusahaan Gas Negara Persero Tbk
PT Semen Indonesia Persero Tbk
PT Telekomunikasi Indonesia Persero Tbk
PT Unilever Indonesia Tbk
Shares
36,000
29,500
111,500
256,000
459,400
111,300
1,665,000
84,500
Total Indonesia
Malaysia – 6.9%
AMMB Holdings Bhd
Astro Malaysia Holdings Bhd
Axiata Group Bhd
British American Tobacco Malaysia Bhd
CIMB Group Holdings Bhd
DiGi.Com Bhd
Felda Global Ventures Holdings Bhd
Genting Bhd
Genting Malaysia Bhd
IOI Corp. Bhd
Kuala Lumpur Kepong Bhd
Malayan Banking Bhd
Maxis Bhd
Nestle (Malaysia) Bhd
Petronas Chemicals Group Bhd
Petronas Dagangan Bhd
Petronas Gas Bhd
PPB Group Bhd
Public Bank Bhd
Sime Darby Bhd
Telekom Malaysia Bhd
Tenaga Nasional Bhd
YTL Corp. Bhd
Investments
74,076
26,228
71,651
33,014
207,256
154,801
324,646
217,573
Sembcorp Industries Ltd.
SembCorp Marine Ltd.
Singapore Airlines Ltd.
Singapore Exchange Ltd.
Singapore Press Holdings Ltd.
Singapore Technologies Engineering Ltd.
Singapore Telecommunications Ltd.
StarHub Ltd.
United Overseas Bank Ltd.
Shares
40,116
39,757
557
1,869
42,000
58,625
362,577
46,000
7,574
Total Singapore
33,900
5,500
111,400
6,600
29,700
147,400
53,500
16,700
82,800
100,400
4,800
133,100
205,300
3,300
150,200
20,600
21,800
15,800
29,500
80,400
50,300
75,300
157,500
74,537
5,390
227,542
119,489
65,030
243,297
76,183
51,141
106,495
147,579
35,572
394,552
437,571
67,385
317,833
193,667
158,885
80,415
173,088
229,222
90,726
275,789
73,794
3,645,182
85,860
129,800
78,700
2,695
22,199
19,080
4,745
5,886
17,330
Total Philippines
Singapore – 6.3%
City Developments Ltd.
DBS Group Holdings Ltd.
Hutchison Port Holdings Trust Class U
Jardine Cycle & Carriage Ltd.
Keppel Corp., Ltd.
Oversea-Chinese Banking Corp., Ltd.
Value
1,975,048
Total Malaysia
Philippines – 1.8%
Aboitiz Equity Ventures, Inc.
Aboitiz Power Corp.
Alliance Global Group, Inc.
Globe Telecom, Inc.
JG Summit Holdings, Inc.
Manila Electric Co.
Philippine Long Distance Telephone Co.
SM Investments Corp.
Universal Robina Corp.
$
107,217
107,672
50,016
100,000
24,503
120,832
288,858
92,533
54,875
946,506
South Korea – 6.5%
E-Mart Co., Ltd.
Hana Financial Group, Inc.
Hanwha Life Insurance Co., Ltd.
Hyundai Glovis Co., Ltd.
Hyundai Mobis
Hyundai Motor Co.
Hyundai Steel Co.
Industrial Bank of Korea
Kangwon Land, Inc.
KB Financial Group, Inc.
Kia Motors Corp.
Korea Zinc Co., Ltd.
KT Corp. ADR
KT Corp.
KT&G Corp.
LG Chem Ltd.
LG Corp.
LG Electronics, Inc.
LG Household & Health Care Ltd.
Lotte Shopping Co., Ltd.
NAVER Corp.
POSCO
Samsung Electro-Mechanics Co., Ltd.
Samsung Electronics Co., Ltd.
Samsung Fire & Marine Insurance Co., Ltd.
Samsung Heavy Industries Co., Ltd.
Samsung Life Insurance Co., Ltd.
Samsung SDI Co., Ltd.
Shinhan Financial Group Co., Ltd.
SK Holdings Co., Ltd.
SK Innovation Co., Ltd.
SK Telecom Co., Ltd. ADR
SK Telecom Co., Ltd.
S-Oil Corp.
Woori Finance Holdings Co., Ltd.*
40,158
295,960
239,847
240,645
357,083
177,843
Taiwan – 12.2%
Advanced Semiconductor Engineering, Inc.
Asustek Computer, Inc.
Cathay Financial Holding Co., Ltd.
Cheng Shin Rubber Industry Co., Ltd.
China Steel Corp.
175,132
128,039
4,637
10,314
140,273
178,082
1,052,369
153,632
130,394
3,324,408
343
1,350
11,820
334
479
1,195
1,887
180
3,800
72
2,942
357
12,435
800
2,214
327
751
526
48
35
24
689
507
373
263
3,020
1,063
12
74
567
572
13,533
471
1,126
6,080
Total South Korea
5,000
23,017
368,995
6,676
41,235
23,517
Value
$
78,625
49,335
77,508
75,777
141,749
281,784
121,965
2,283
110,667
2,520
163,897
110,845
172,722
22,209
166,396
78,029
40,850
32,070
20,721
11,015
17,451
191,596
33,008
470,608
59,175
90,363
100,363
1,815
3,267
102,805
65,559
305,440
95,355
65,162
69,114
3,432,048
55,175
14,740
15,919
39,948
126,469
61,240
145,936
23,210
113,997
106,524
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 77
Schedule of Investments (concluded)
WisdomTree Asia Pacific ex-Japan Fund (AXJL)
March 31, 2014
Investments
Chunghwa Telecom Co., Ltd.
CTBC Financial Holding Co., Ltd.
Delta Electronics, Inc.
Far Eastern New Century Corp.
Far EasTone Telecommunications Co., Ltd.
First Financial Holding Co., Ltd.
Formosa Chemicals & Fibre Corp.
Formosa Petrochemical Corp.
Formosa Plastics Corp.
Fubon Financial Holding Co., Ltd.
Hon Hai Precision Industry Co., Ltd.
HTC Corp.
Hua Nan Financial Holdings Co., Ltd.
MediaTek, Inc.
Mega Financial Holding Co., Ltd.
Nan Ya Plastics Corp.
President Chain Store Corp.
Quanta Computer, Inc.
Taiwan Cement Corp.
Taiwan Mobile Co., Ltd.
Taiwan Semiconductor Manufacturing Co., Ltd.
Uni-President Enterprises Corp.
United Microelectronics Corp.
Yuanta Financial Holding Co., Ltd.
Shares
198,000
56,250
45,000
81,707
53,000
42,705
119,830
90,000
135,840
72,803
119,865
63,450
21,460
16,000
41,516
165,230
18,000
120,000
135,000
71,100
356,000
64,773
327,000
56,000
Total Taiwan
Thailand – 5.4%
Advanced Info Service PCL
Airports of Thailand PCL NVDR
Bangkok Bank PCL NVDR
Central Pattana PCL NVDR
Charoen Pokphand Foods PCL
CP ALL PCL
PTT Exploration & Production PCL
PTT Global Chemical PCL
PTT PCL
Shin Corp. PCL NVDR
Siam Cement PCL NVDR
Siam Commercial Bank PCL
Total Access Communication PCL NVDR
609,231
35,188
277,810
86,798
112,257
25,382
289,615
229,045
339,907
98,736
339,688
318,787
12,156
236,171
32,174
349,966
127,083
323,126
208,357
222,738
1,385,305
112,732
137,984
28,227
Investments
Shares
RIGHTS – 0.0%
Hong Kong – 0.0%
New World Development Co., Ltd.,
expiring 5/17/2014*
(Cost: $0)
2,852
TOTAL INVESTMENTS IN SECURITIES – 99.5%
(Cost: $47,962,812)
Foreign Currency and Other Assets in Excess of
Liabilities – 0.5%
NET ASSETS – 100.0%
ADR – American Depositary Receipt
ETN – Exchange Traded Note
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
6,389,370
63,100
9,584
16,700
19,078
264,500
74,300
97,613
149,394
44,800
58,285
19,971
21,500
47,982
Total Thailand
439,599
57,315
91,891
27,641
228,298
99,632
472,418
332,729
412,922
138,795
257,333
104,385
172,315
2,835,273
TOTAL COMMON STOCKS
(Cost: $46,812,914)
EXCHANGE-TRADED NOTE – 2.5%
United States – 2.5%
iPath MSCI India Index ETN*
(Cost: $1,149,898)
Value
$
51,032,638
21,553
1,306,758
See Notes to Financial Statements.
78 WisdomTree International Dividend and Sector Funds
Value
$
588
52,339,984
238,655
$52,578,639
Schedule of Investments
WisdomTree Australia Dividend Fund (AUSE)
March 31, 2014
Investments
COMMON STOCKS – 99.0%
Australia – 99.0%
Air Freight & Logistics – 2.2%
Toll Holdings Ltd.
Banks – 12.1%
Australia & New Zealand Banking Group Ltd.
Commonwealth Bank of Australia
National Australia Bank Ltd.
Westpac Banking Corp.
Shares
252,036
$ 1,214,718
51,766
21,510
54,810
54,348
1,586,197
1,543,886
1,801,391
1,740,872
Total Banks
Beverages – 1.9%
Coca-Cola Amatil Ltd.
Treasury Wine Estates Ltd.
6,672,346
79,329
73,534
Total Beverages
Biotechnology – 0.6%
CSL Ltd.
Capital Markets – 2.0%
Macquarie Group Ltd.
Chemicals – 5.2%
DuluxGroup Ltd.
Incitec Pivot Ltd.
Orica Ltd.
4,819
310,689
21,012
1,128,185
199,439
350,023
40,549
1,059,191
960,280
822,313
2,841,784
61,475
169,566
139,855
Total Commercial Services & Supplies
Construction & Engineering – 2.0%
Leighton Holdings Ltd.
Construction Materials – 3.3%
Adelaide Brighton Ltd.
Boral Ltd.
527,617
788,955
1,488,091
Health Care Equipment & Supplies – 1.9%
Ansell Ltd.
Cochlear Ltd.
517,908
20,363
12,958
347,460
684,577
1,032,037
124,171
12,838
59,744
Total Health Care Providers & Services
Hotels, Restaurants & Leisure – 9.5%
Aristocrat Leisure Ltd.
Crown Resorts Ltd.
Echo Entertainment Group Ltd.
Flight Centre Travel Group Ltd.
TABCORP Holdings Ltd.
Tatts Group Ltd.
542,064
572,694
956,305
2,071,063
89,131
47,348
108,434
18,499
507,180
481,700
Total Hotels, Restaurants & Leisure
Insurance – 6.2%
AMP Ltd.
Insurance Australia Group Ltd.
QBE Insurance Group Ltd.
Suncorp Group Ltd.
405,812
496,696
Total Health Care Equipment & Supplies
Health Care Providers & Services – 3.8%
Primary Health Care Ltd.
Ramsay Health Care Ltd.
Sonic Healthcare Ltd.
$
444,448
729,799
246,230
899,983
1,602,972
1,294,745
5,218,177
216,504
196,657
41,330
78,994
Total Insurance
999,321
1,015,253
491,092
942,285
3,447,951
75,540
759,655
1,088,485
IT Services – 1.0%
Computershare Ltd.
48,387
542,655
344,490
105,137
1,280,356
550,571
Media – 3.0%
REA Group Ltd.
Seven West Media Ltd.
10,759
641,241
486,134
1,176,782
1,830,927
Total Media
66,519
640,576
136,815
925,691
313,791
130,575
1,477,453
804,806
Total Diversified Telecommunication Services
Total Food & Staples Retailing
52,000
Gas Utilities – 0.9%
Envestra Ltd.
Value
55,632
Diversified Telecommunication Services – 4.1%
Telstra Corp., Ltd.
TPG Telecom Ltd.
Food & Staples Retailing – 7.5%
Metcash Ltd.
Wesfarmers Ltd.
Woolworths Ltd.
Shares
Food Products – 0.7%
GrainCorp Ltd. Class A
Internet Software & Services – 1.4%
carsales.com Ltd.
Diversified Consumer Services – 1.7%
Navitas Ltd.
Energy Equipment & Services – 1.3%
WorleyParsons Ltd.
Investments
2,804,663
Total Construction Materials
Containers & Packaging – 1.2%
Amcor Ltd.
810,993
240,587
1,051,580
Total Chemicals
Commercial Services & Supplies – 5.1%
Brambles Ltd.
Downer EDI Ltd.
Mineral Resources Ltd.
Value
2,282,259
51,862
464,768
53,770
29,669
727,754
1,128,618
2,052,775
982,254
4,163,647
1,662,916
Metals & Mining – 4.2%
BHP Billiton Ltd.
Iluka Resources Ltd.
Rio Tinto Ltd.
25,415
73,195
13,043
Total Metals & Mining
Multiline Retail – 1.8%
Harvey Norman Holdings Ltd.
Multi-Utilities – 1.9%
AGL Energy Ltd.
Oil, Gas & Consumable Fuels – 6.2%
Beach Energy Ltd.
Caltex Australia Ltd.
Origin Energy Ltd.
Santos Ltd.
859,084
672,302
768,250
2,299,636
333,550
1,020,198
73,548
1,034,790
387,404
20,459
69,717
43,024
612,207
418,880
923,380
538,337
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 79
Schedule of Investments (concluded)
WisdomTree Australia Dividend Fund (AUSE)
March 31, 2014
Investments
Shares
Woodside Petroleum Ltd.
25,586
Total Oil, Gas & Consumable Fuels
Professional Services – 2.7%
ALS Ltd./Queensland
Seek Ltd.
Value
$
925,336
3,418,140
101,057
48,346
Total Professional Services
686,562
787,303
1,473,865
Road & Rail – 0.9%
Aurizon Holdings Ltd.
101,148
481,870
Transportation Infrastructure – 2.7%
Qube Holdings Ltd.
Sydney Airport Ltd.
194,005
285,116
400,984
1,107,249
Total Transportation Infrastructure
TOTAL INVESTMENTS IN SECURITIES – 99.0%
(Cost: $47,152,305)
Other Assets in Excess of Liabilities – 1.0%
NET ASSETS – 100.0%
1,508,233
54,578,210
559,354
$55,137,564
See Notes to Financial Statements.
80 WisdomTree International Dividend and Sector Funds
Schedule of Investments
WisdomTree International LargeCap Dividend Fund (DOL)
March 31, 2014
Investments
COMMON STOCKS – 99.4%
Australia – 12.0%
Amcor Ltd.
AMP Ltd.
Australia & New Zealand Banking Group Ltd.
BHP Billiton Ltd.
Brambles Ltd.
Commonwealth Bank of Australia
CSL Ltd.
Macquarie Group Ltd.
National Australia Bank Ltd.
Origin Energy Ltd.
QBE Insurance Group Ltd.
Rio Tinto Ltd.
Santos Ltd.
Suncorp Group Ltd.
Telstra Corp., Ltd.
Wesfarmers Ltd.
Westpac Banking Corp.
Woodside Petroleum Ltd.
Woolworths Ltd.
Shares
60,154
94,018
141,293
104,641
33,162
83,275
1,216
12,419
142,478
19,396
9,817
17,138
32,962
58,613
802,178
61,012
185,101
26,018
49,918
Total Australia
Austria – 0.2%
Erste Group Bank AG
OMV AG
$
579,282
433,960
4,329,453
3,537,099
284,617
5,977,086
78,398
666,806
4,682,697
256,894
116,648
1,009,451
412,436
699,169
3,776,974
2,329,253
5,929,145
940,959
1,652,640
37,692,967
8,606
5,620
Total Austria
Belgium – 0.9%
Anheuser-Busch InBev N.V.
Solvay S.A.
Value
294,158
255,107
549,265
23,264
2,904
Total Belgium
2,440,040
456,077
2,896,117
Denmark – 0.5%
Novo Nordisk A/S Class B
34,804
1,585,680
Finland – 0.8%
Fortum Oyj
Kone Oyj Class B
Sampo Class A
51,136
20,489
6,658
1,162,889
859,594
345,491
Total Finland
France – 13.2%
Air Liquide S.A.
Alstom S.A.
AXA S.A.
BNP Paribas S.A.
Carrefour S.A.
Casino Guichard Perrachon S.A.
Christian Dior S.A.
Cie Generale des Etablissements Michelin
Compagnie de Saint-Gobain
Danone
EDF S.A.
GDF Suez
Hermes International
Kering
2,367,974
7,144
7,784
81,799
26,104
33,246
5,526
1,575
2,955
16,190
14,962
91,682
153,388
1,212
2,722
968,080
212,635
2,126,829
2,014,399
1,287,349
657,888
303,361
369,722
978,463
1,058,495
3,628,447
4,198,542
403,578
555,424
Investments
Shares
L’Oreal S.A.
LVMH Moet Hennessy Louis Vuitton S.A.
Natixis
Orange S.A.
Pernod-Ricard S.A.
Renault S.A.
Safran S.A.
Sanofi
Schneider Electric S.A.
Societe Generale S.A.
Total S.A.
Unibail-Rodamco SE
Vinci S.A.
Vivendi S.A.
7,625
7,909
59,984
177,819
5,859
4,303
9,608
36,968
12,647
7,132
103,051
1,461
18,649
53,580
Total France
Value
$
1,257,946
1,438,331
440,729
2,627,246
682,351
418,345
665,951
3,855,982
1,121,667
439,436
6,760,628
379,568
1,385,647
1,493,178
41,730,217
Germany – 10.0%
Adidas AG
Allianz SE
BASF SE
Bayer AG
Bayerische Motoren Werke AG
Continental AG
Daimler AG
Deutsche Bank AG
Deutsche Boerse AG
Deutsche Post AG
Deutsche Telekom AG
E.ON SE
Fresenius Medical Care AG & Co. KGaA
Linde AG
Muenchener Rueckversicherungs AG
RWE AG
SAP AG
Siemens AG
Volkswagen AG
6,790
13,667
24,529
16,611
16,790
2,045
34,785
11,258
7,394
49,996
211,838
87,998
1,133
4,484
8,292
17,750
19,061
24,093
4,765
Total Germany
735,002
2,311,243
2,727,556
2,247,743
2,120,161
490,141
3,288,370
503,893
588,721
1,858,421
3,424,757
1,721,009
79,093
897,346
1,812,551
720,707
1,543,673
3,244,243
1,208,394
31,523,024
Hong Kong – 5.4%
BOC Hong Kong Holdings Ltd.
Cheung Kong Holdings Ltd.
China Mobile Ltd.
China Overseas Land & Investment Ltd.
China Resources Power Holdings Co., Ltd.
China Unicom Hong Kong Ltd.
CLP Holdings Ltd.
CNOOC Ltd.
Hang Seng Bank Ltd.
Hong Kong Exchanges and Clearing Ltd.
Hutchison Whampoa Ltd.
Power Assets Holdings Ltd.
SJM Holdings Ltd.
Sun Hung Kai Properties Ltd.
Wharf Holdings Ltd.
Total Hong Kong
408,715
82,000
627,986
86,000
26,000
229,522
107,500
1,292,529
68,495
35,900
109,000
64,500
28,699
89,442
92,000
1,164,438
1,359,434
5,747,933
222,843
67,706
301,806
810,714
1,942,863
1,090,509
544,259
1,443,113
559,185
80,654
1,095,389
588,265
17,019,111
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 81
Schedule of Investments (continued)
WisdomTree International LargeCap Dividend Fund (DOL)
March 31, 2014
Investments
Shares
Ireland – 0.2%
CRH PLC
25,151
Israel – 0.5%
Israel Chemicals Ltd.
Teva Pharmaceutical Industries Ltd.
65,769
22,041
Value
$
Total Israel
Italy – 3.3%
Assicurazioni Generali SpA
Enel SpA
Eni SpA
Intesa Sanpaolo SpA
Luxottica Group SpA
Snam SpA
UniCredit SpA
574,559
1,137,368
1,711,927
Shares
Sumitomo Mitsui Trust Holdings, Inc.
Takeda Pharmaceutical Co., Ltd.
Tokio Marine Holdings, Inc.
Toshiba Corp.
Toyota Motor Corp.
Yahoo Japan Corp.
76,000
26,000
11,600
72,000
36,800
11,200
Total Japan
24,466
505,736
170,310
273,832
5,185
171,278
59,246
Total Italy
Japan – 8.2%
Astellas Pharma, Inc.
Canon, Inc.
Dai-ichi Life Insurance Co., Ltd. (The)
Daiichi Sankyo Co., Ltd.
Denso Corp.
East Japan Railway Co.
FANUC Corp.
Fast Retailing Co., Ltd.
Hitachi Ltd.
Honda Motor Co., Ltd.
Isuzu Motors Ltd.
ITOCHU Corp.
Japan Tobacco, Inc.
JFE Holdings, Inc.
JX Holdings, Inc.
Kao Corp.
KDDI Corp.
Kirin Holdings Co., Ltd.
Komatsu Ltd.
Kyocera Corp.
Marubeni Corp.
Mitsubishi Corp.
Mitsubishi Electric Corp.
Mitsubishi Heavy Industries Ltd.
Mitsubishi UFJ Financial Group, Inc.
Mitsui & Co., Ltd.
Mizuho Financial Group, Inc.
MS&AD Insurance Group Holdings
Nippon Telegraph & Telephone Corp.
Nissan Motor Co., Ltd.
Nomura Holdings, Inc.
NTT DOCOMO, Inc.
Shin-Etsu Chemical Co., Ltd.
SoftBank Corp.
Sony Corp.
Sumitomo Corp.
Sumitomo Mitsui Financial Group, Inc.
700,047
Investments
545,594
2,863,401
4,274,427
928,426
299,998
1,003,271
541,378
10,456,495
67,000
36,900
14,400
3,800
14,400
8,000
2,500
600
79,000
34,100
28,000
58,900
25,109
12,800
57,000
15,000
13,140
20,000
10,000
7,600
30,000
28,600
21,000
59,000
176,200
25,400
298,998
10,100
33,494
97,700
35,700
111,800
8,400
6,800
12,800
47,800
27,800
796,310
1,143,350
209,739
64,130
691,860
590,843
441,933
218,100
584,532
1,203,276
161,227
689,745
789,952
241,495
275,079
532,650
762,486
277,710
207,603
343,378
201,874
532,093
236,947
342,021
970,097
359,845
592,277
231,843
1,827,478
872,787
229,484
1,767,349
481,072
515,026
245,100
609,423
1,190,175
Netherlands – 2.0%
Aegon N.V.
Airbus Group N.V.
Akzo Nobel N.V.
Heineken N.V.
Koninklijke Ahold N.V.
Koninklijke Philips N.V.
Reed Elsevier N.V.
Unilever N.V.
Singapore – 1.4%
DBS Group Holdings Ltd.
Jardine Cycle & Carriage Ltd.
Keppel Corp., Ltd.
Oversea-Chinese Banking Corp., Ltd.
Singapore Telecommunications Ltd.
United Overseas Bank Ltd.
48,963
114,997
65,012
3,031
181,209
16,635
4,257
841,911
287,392
71,463
1,200,766
45,000
8,000
25,000
102,000
711,500
28,000
578,625
288,370
216,492
771,357
2,065,107
482,049
4,402,000
15,630
2,535
131,213
808,546
285,742
29,828
46,653
228,686
9,630
58,757
Total Spain
Sweden – 3.4%
Atlas Copco AB Class A
Hennes & Mauritz AB Class B
851,346
3,246,088
1,440,959
133,956
5,672,349
Total Singapore
Spain – 5.7%
Abertis Infraestructuras, S.A.
Amadeus IT Holding S.A. Class A
Banco Bilbao Vizcaya Argentaria S.A.
Banco Santander S.A.
CaixaBank
Ferrovial S.A.
Gas Natural SDG S.A.
Iberdrola S.A.
Inditex S.A.
Repsol S.A.
361,637
928,365
180,982
970,909
906,982
1,245,620
62,973
1,670,462
6,327,930
Total Portugal
See Notes to Financial Statements.
82 WisdomTree International Dividend and Sector Funds
39,380
12,956
2,217
13,944
45,135
35,435
2,913
40,624
Total Norway
Portugal – 0.4%
EDP-Energias de Portugal S.A.
Galp Energia, SGPS, S.A.
Jeronimo Martins, SGPS, S.A.
343,895
1,235,054
348,952
305,520
2,081,826
55,029
25,800,565
Total Netherlands
Norway – 1.8%
DNB ASA
Statoil ASA
Telenor ASA
Yara International ASA
Value
$
357,059
105,340
1,576,600
7,712,612
1,839,157
646,462
1,312,352
1,599,886
1,445,380
1,500,188
18,095,036
27,191
47,154
782,991
2,007,311
Schedule of Investments (concluded)
WisdomTree International LargeCap Dividend Fund (DOL)
March 31, 2014
Investments
Nordea Bank AB
Sandvik AB
Skandinaviska Enskilda Banken AB Class A
Svenska Handelsbanken AB Class A
Swedbank AB Class A
Telefonaktiebolaget LM Ericsson Class B
TeliaSonera AB
Volvo AB Class B
Shares
105,145
60,528
11,994
20,240
37,952
86,216
186,447
57,770
Total Sweden
Switzerland – 8.3%
ABB Ltd.*
Cie Financiere Richemont S.A.
Kuehne + Nagel International AG
Nestle S.A.
Novartis AG
Roche Holding AG – Genusschein
Swatch Group AG (The)
Swiss Re AG*
Swisscom AG
Syngenta AG
Transocean Ltd.
UBS AG*
Zurich Insurance Group AG*
Value
Investments
1,488,739
853,743
164,365
1,013,943
1,016,767
1,146,258
1,403,338
915,973
Rio Tinto PLC
Royal Dutch Shell PLC Class A
Royal Dutch Shell PLC Class B
SABMiller PLC
SSE PLC
Standard Chartered PLC
Standard Life PLC
Tesco PLC
Tullow Oil PLC
Unilever PLC
Vodafone Group PLC
10,793,428
36,088
3,024
728
80,008
74,670
18,846
555
21,427
2,319
2,473
5,577
15,357
5,799
Total Switzerland
United Kingdom – 21.2%
Anglo American PLC
Antofagasta PLC
Associated British Foods PLC
AstraZeneca PLC
Aviva PLC
BAE Systems PLC
Barclays PLC
BG Group PLC
BHP Billiton PLC
BP PLC
British American Tobacco PLC
British Sky Broadcasting Group PLC
BT Group PLC
Centrica PLC
Compass Group PLC
Diageo PLC
Fresnillo PLC
GlaxoSmithKline PLC
HSBC Holdings PLC
Imperial Tobacco Group PLC
Kingfisher PLC
Legal & General Group PLC
Marks & Spencer Group PLC
National Grid PLC
Old Mutual PLC
Pearson PLC
Prudential PLC
Reckitt Benckiser Group PLC
$
931,461
288,929
101,946
6,027,659
6,339,786
5,653,693
64,400
1,987,822
1,425,502
935,896
229,937
317,449
1,781,682
26,086,162
40,863
4,915
19,586
51,072
158,795
158,434
261,615
32,456
71,745
687,424
52,018
60,429
240,689
174,123
77,032
39,019
22,638
171,653
568,117
31,172
9,548
294,733
21,855
134,326
192,257
36,277
56,838
20,829
1,039,924
68,461
908,074
3,300,634
1,262,787
1,094,040
1,017,978
604,668
2,205,603
5,500,987
2,892,606
919,795
1,522,800
957,083
1,175,079
1,210,590
318,345
4,554,417
5,753,853
1,259,194
67,078
1,005,822
164,507
1,840,800
644,568
642,894
1,201,999
1,697,014
Shares
40,571
150,549
87,156
21,241
52,723
67,615
9,775
228,578
17,041
37,198
1,106,258
Total United Kingdom
RIGHTS – 0.0%
Spain – 0.0%
Banco Bilbao Vizcaya Argentaria S.A.,
expiring 5/14/14*
(Cost: $30,382)
TOTAL INVESTMENTS IN SECURITIES – 99.5%
(Cost: $260,300,561)
Foreign Currency and Other Assets in Excess
of Liabilities – 0.5%
NET ASSETS – 100.0%
*
(a)
2,257,417
5,499,142
3,400,797
1,060,588
1,291,209
1,413,000
61,519
1,125,692
212,648
1,588,195
4,062,989
66,804,796
TOTAL COMMON STOCKS
(Cost: $260,039,308)
EXCHANGE-TRADED FUNDS – 0.1%
United States – 0.1%
WisdomTree International MidCap
Dividend Fund(a)
(Cost: $230,871)
Value
$
313,415,856
4,036
243,088
131,213
30,744
313,689,688
1,586,798
$315,276,486
Non-income producing security.
Affiliated company (See Note 7).
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 83
Schedule of Investments
WisdomTree International Dividend ex-Financials Fund (DOO)
March 31, 2014
Investments
COMMON STOCKS – 99.4%
Australia – 9.8%
Amcor Ltd.
BHP Billiton Ltd.
Origin Energy Ltd.
Rio Tinto Ltd.
Telstra Corp., Ltd.
Wesfarmers Ltd.
Woodside Petroleum Ltd.
Woolworths Ltd.
Shares
Value
Snam SpA
$
2,884,033
3,845,003
4,154,223
3,452,148
6,580,237
4,663,621
4,207,409
4,347,292
34,133,966
Austria – 0.6%
OMV AG
49,796
2,260,372
Finland – 1.7%
Fortum Oyj
255,311
5,806,058
France – 17.9%
Carrefour S.A.
Casino Guichard Perrachon S.A.
Cie Generale des Etablissements Michelin
Compagnie de Saint-Gobain
EDF S.A.
GDF Suez
Orange S.A.
Sanofi
Total S.A.
Vinci S.A.
Vivendi S.A.
120,322
27,357
27,701
63,743
213,654
325,401
714,996
22,576
86,003
62,989
242,533
4,659,099
3,256,938
3,465,880
3,852,387
8,455,664
8,906,888
10,563,948
2,354,811
5,642,199
4,680,173
6,758,960
Total France
62,596,947
26,389
52,232
98,138
489,624
353,449
159,883
13,865
25,063
Total Germany
Hong Kong – 1.4%
China Mobile Ltd.
CNOOC Ltd.
3,332,277
4,937,707
3,647,926
7,915,686
6,912,530
6,491,767
1,122,870
3,374,858
37,735,621
309,500
1,436,000
Total Hong Kong
2,832,842
2,158,522
4,991,364
Japan – 5.7%
Astellas Pharma, Inc.
Canon, Inc.
Daiichi Sankyo Co., Ltd.
Eisai Co., Ltd.
Hitachi Ltd.
Kyocera Corp.
Murata Manufacturing Co., Ltd.
Sumitomo Corp.
Takeda Pharmaceutical Co., Ltd.
Toshiba Corp.
Yahoo! Japan Corp.
169,600
78,800
155,000
69,500
147,000
16,600
12,100
197,200
62,100
234,000
125,200
Total Japan
Netherlands – 1.8%
Koninklijke Ahold N.V.
Reed Elsevier N.V.
135,324
3,766,574
Israel – 2.0%
Israel Chemicals Ltd.
Teva Pharmaceutical Industries Ltd.
463,338
55,820
4,047,727
2,880,444
Total Israel
6,928,171
147,872
156,125
6,259,163
5,279,123
168,054
172,292
83,067
Total Norway
2,971,470
3,375,086
4,743,760
3,818,767
3,671,178
12,233,705
Portugal – 2.1%
EDP-Energias de Portugal S.A.
1,578,961
7,335,978
Singapore – 2.5%
Jardine Cycle & Carriage Ltd.
Keppel Corp., Ltd.
Singapore Telecommunications Ltd.
72,000
364,000
1,043,000
2,595,332
3,152,129
3,027,276
Total Singapore
Spain – 4.6%
Abertis Infraestructuras, S.A.
Amadeus IT Holding S.A. Class A
Ferrovial S.A.
8,774,737
197,800
42,071
446,457
Total Spain
Sweden – 4.1%
Hennes & Mauritz AB Class B
Sandvik AB
Telefonaktiebolaget LM Ericsson Class B
TeliaSonera AB
Switzerland – 3.9%
Nestle S.A.
Novartis AG
Roche Holding AG
Swisscom AG
United Kingdom – 20.9%
Anglo American PLC
See Notes to Financial Statements.
84 WisdomTree International Dividend and Sector Funds
2,015,734
2,441,625
2,615,818
2,711,570
1,087,673
750,010
1,143,793
2,514,187
2,949,878
992,941
615,150
6,346,556
4,518,639
1,748,228
9,676,051
15,942,918
86,556
203,524
212,584
680,481
3,684,626
2,870,691
2,826,344
5,121,804
14,503,465
34,897
33,562
9,044
8,910
Total Switzerland
1,105,498
210,341
6,100,116
19,838,379
Total Netherlands
Norway – 3.5%
Statoil ASA
Telenor ASA
Yara International ASA
Value
$
17,638,402
Total Sweden
Ireland – 1.1%
CRH PLC
Italy – 5.0%
Enel SpA
Eni SpA
Shares
1,041,409
Total Italy
299,485
113,750
313,652
58,609
1,397,553
122,158
116,337
131,310
Total Australia
Germany – 10.8%
Bayerische Motoren Werke AG
Daimler AG
Deutsche Post AG
Deutsche Telekom AG
E.ON SE
RWE AG
SAP AG
Siemens AG
Investments
2,629,077
2,849,550
2,700,351
5,477,025
13,656,003
136,040
3,462,088
Schedule of Investments (concluded)
WisdomTree International Dividend ex-Financials Fund (DOO)
March 31, 2014
Investments
AstraZeneca PLC
BAE Systems PLC
BHP Billiton PLC
BP PLC
British American Tobacco PLC
British Sky Broadcasting Group PLC
Fresnillo PLC
GlaxoSmithKline PLC
Imperial Tobacco Group PLC
Marks & Spencer Group PLC
National Grid PLC
Pearson PLC
Reed Elsevier PLC
Rio Tinto PLC
Royal Dutch Shell PLC Class A
Royal Dutch Shell PLC Class B
SSE PLC
Tesco PLC
Unilever PLC
Vodafone Group PLC
Shares
85,371
623,250
112,972
559,341
55,938
231,146
164,650
137,110
98,453
425,668
359,958
160,755
214,543
69,679
24,942
85,453
175,249
606,597
57,005
832,293
Total United Kingdom
TOTAL INVESTMENTS IN SECURITIES – 99.6%
(Cost: $282,275,043)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.4%
NET ASSETS – 100.0%
(a)
5,517,278
4,303,751
3,473,013
4,476,026
3,110,589
3,518,292
2,315,376
3,637,898
3,977,014
3,204,081
4,932,855
2,848,869
3,276,307
3,877,019
911,063
3,334,346
4,291,924
2,987,345
2,433,869
3,056,789
72,945,792
TOTAL COMMON STOCKS
(Cost: $281,642,082)
EXCHANGE-TRADED FUNDS – 0.2%
United States – 0.2%
WisdomTree International LargeCap Dividend
Fund(a)
(Cost: $632,961)
Value
$
347,435,008
12,879
668,163
348,103,171
1,442,320
$349,545,491
Affiliated company (See Note 7).
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 85
Schedule of Investments
WisdomTree International MidCap Dividend Fund (DIM)
March 31, 2014
Investments
COMMON STOCKS – 98.6%
Australia – 9.1%
AGL Energy Ltd.
ALS Ltd./Queensland
Ansell Ltd.
Aurizon Holdings Ltd.
Bank of Queensland Ltd.
Bendigo and Adelaide Bank Ltd.
Boral Ltd.
Caltex Australia Ltd.
Coca-Cola Amatil Ltd.
Cochlear Ltd.
Computershare Ltd.
Crown Resorts Ltd.
Flight Centre Travel Group Ltd.
GrainCorp Ltd. Class A
Harvey Norman Holdings Ltd.
Iluka Resources Ltd.
Incitec Pivot Ltd.
Insurance Australia Group Ltd.
Leighton Holdings Ltd.
Lend Lease Group
Metcash Ltd.
New Hope Corp., Ltd.
Orica Ltd.
Platinum Asset Management Ltd.
Primary Health Care Ltd.
Ramsay Health Care Ltd.
REA Group Ltd.
Seek Ltd.
Sonic Healthcare Ltd.
Sydney Airport
TABCORP Holdings Ltd.
Tatts Group Ltd.
Toll Holdings Ltd.
TPG Telecom Ltd.
Treasury Wine Estates Ltd.
Wesfarmers Ltd.
WorleyParsons Ltd.
Shares
41,939
25,706
8,420
64,814
40,504
55,694
56,794
14,341
59,179
3,894
27,286
44,350
7,739
9,619
89,493
31,583
117,501
147,848
23,549
32,657
108,754
39,199
23,687
52,587
19,375
11,427
5,558
16,031
25,008
138,286
113,512
171,254
62,036
26,910
19,983
11,193
18,784
Value
$
Total Australia
Austria – 1.5%
Andritz AG
EVN AG
Oesterreichische Post AG
Raiffeisen Bank International AG
Strabag SE
Telekom Austria AG
Verbund AG
Vienna Insurance Group AG Wiener Versicherung
Gruppe
Voestalpine AG
590,064
174,642
143,673
308,775
482,404
587,436
297,413
293,619
604,996
205,722
306,009
683,590
376,505
75,067
273,724
290,093
322,361
763,274
460,755
358,678
264,093
108,631
480,360
363,602
84,581
509,750
251,132
261,061
400,296
537,034
358,761
460,308
298,990
165,861
65,380
427,315
263,587
12,899,542
4,016
6,382
3,525
11,380
4,678
16,916
14,351
248,275
89,895
177,572
379,564
121,212
168,237
295,304
6,445
8,147
317,916
358,249
Total Austria
2,156,224
Investments
Shares
Belgium – 2.9%
Ageas
Belgacom S.A.
Colruyt S.A.
Delhaize Group S.A.
D’ieteren S.A./N.V.
Elia System Operator S.A/N.V.
Telenet Group Holding N.V.
UCB S.A.
Umicore S.A.
15,921
52,712
4,407
5,634
2,138
2,378
2,926
5,459
4,383
Total Belgium
Denmark – 1.8%
Carlsberg A/S Class B
Chr Hansen Holding A/S
DSV A/S
FLSmidth & Co. A/S
GN Store Nord A/S
H. Lundbeck A/S
Novozymes A/S Class B
Pandora A/S
TDC A/S
Tryg A/S
See Notes to Financial Statements.
86 WisdomTree International Dividend and Sector Funds
1,655
2,888
1,510
2,184
1,927
5,832
4,728
5,377
105,799
3,361
709,750
1,651,341
242,958
411,936
100,276
120,169
180,446
437,287
223,452
164,675
114,624
48,754
110,228
47,846
179,794
207,990
355,853
978,499
332,564
2,540,827
18,739
6,446
2,247
11,849
15,658
6,785
9,664
5,557
19,997
48,025
48,498
7,591
7,371
Total Finland
France – 9.2%
Accor S.A.
Aeroports de Paris
Arkema S.A.
AtoS
bioMerieux
Bouygues S.A.
Cap Gemini S.A.
CNP Assurances
Edenred
Eiffage S.A.
Euler Hermes S.A.
Eutelsat Communications S.A.
Groupe Eurotunnel S.A.
Havas S.A.
$
4,077,615
Total Denmark
Finland – 3.1%
Elisa Oyj*
Kemira Oyj
Konecranes Oyj
Metso Oyj
Neste Oil Oyj
Nokian Renkaat Oyj
Orion Oyj Class B
Outotec Oyj*
Pohjola Bank PLC Class A
Stora Enso Oyj Class R
UPM-Kymmene Oyj
Wartsila Oyj Abp
YIT Oyj
Value
539,526
93,995
71,632
387,532
319,393
274,464
291,828
61,578
444,557
513,969
829,513
412,528
78,530
4,319,045
6,762
2,790
1,343
501
383
30,779
5,787
63,423
7,419
5,286
4,445
11,227
7,855
13,360
346,368
348,040
152,151
45,318
42,029
1,284,300
438,277
1,343,534
232,880
395,744
561,171
381,424
100,326
100,059
Schedule of Investments (continued)
WisdomTree International MidCap Dividend Fund (DIM)
March 31, 2014
Investments
Shares
Imerys S.A.
Ingenico
Ipsen S.A.
JC Decaux S.A.
Klepierre
Lagardere SCA
Neopost S.A.
Remy Cointreau S.A.
Rexel S.A.
SCOR SE
SEB S.A.
Societe BIC S.A.
Societe Television Francaise 1
Suez Environnement Co.
Thales S.A.
Valeo S.A.
Vallourec S.A.
Veolia Environnement S.A.
Vicat S.A.
Zodiac Aerospace
3,250
523
3,452
6,838
11,796
10,674
4,355
1,379
12,728
13,641
1,642
2,784
13,715
40,995
7,377
3,846
4,088
48,442
1,370
10,355
Total France
Germany – 5.3%
Aurubis AG
Axel Springer SE
Bilfinger SE
Brenntag AG
Carl Zeiss Meditec AG
Celesio AG
Deutsche Wohnen AG
Fielmann AG
Fraport AG Frankfurt Airport Services Worldwide
Freenet AG*
GEA Group AG
Hannover Rueck SE
Hochtief AG
Hugo Boss AG
Infineon Technologies AG
K+S AG
Kabel Deutschland Holding AG
Lanxess AG
MTU Aero Engines AG
Rhoen Klinikum AG
Salzgitter AG
Software AG
Stada Arzneimittel AG
Suedzucker AG
Symrise AG
Talanx AG
Telefonica Deutschland Holding AG
United Internet AG Registered Shares
Wacker Chemie AG
Total Germany
Value
$
289,140
48,937
141,399
299,651
528,054
423,984
344,051
110,710
334,094
477,538
141,760
365,862
226,832
833,112
489,354
542,001
222,019
958,748
115,501
366,071
13,030,439
1,544
6,058
2,491
1,016
1,853
3,014
2,009
2,153
3,388
13,998
6,801
7,201
1,199
2,990
25,327
10,383
1,996
1,503
1,067
4,012
1,710
2,671
293
5,768
6,161
10,792
109,466
7,909
1,649
83,897
387,873
316,165
188,551
52,048
103,062
43,084
289,408
253,181
489,746
311,012
644,416
108,901
398,003
302,364
341,231
274,301
113,415
99,206
128,562
67,617
96,781
12,545
164,361
307,898
388,362
872,942
371,546
201,432
7,411,910
Investments
Shares
Hong Kong – 4.3%
Bank of East Asia Ltd.
Beijing Enterprises Holdings Ltd.
Cathay Pacific Airways Ltd.
China Agri-Industries Holdings Ltd.
China Everbright International Ltd.
China Everbright Ltd.
China Merchants Holdings International Co., Ltd.
China Overseas Grand Oceans Group Ltd.
China Resources Enterprise Ltd.
CITIC Pacific Ltd.
Far East Horizon Ltd.
Fosun International Ltd.
Franshion Properties China Ltd.
Guangdong Investment Ltd.
Hang Lung Group Ltd.
HKT Trust and HKT Ltd.
Hong Kong Aircraft Engineering Co., Ltd.
Hopewell Holdings Ltd.
Hysan Development Co., Ltd.
Lenovo Group Ltd.
New World Development Co., Ltd.
PCCW Ltd.
Shanghai Industrial Holdings Ltd.
Sino Land Co., Ltd.
Sino-Ocean Land Holdings Ltd.
Techtronic Industries Co., Ltd.
Television Broadcasts Ltd.
Yuexiu Property Co., Ltd.
100,322
21,200
37,774
102,000
44,000
34,739
124,200
31,000
58,600
247,773
191,924
322,400
333,242
282,208
39,000
500,355
7,547
67,162
41,000
298,453
294,482
495,543
60,500
321,046
398,464
24,500
27,824
671,100
Total Hong Kong
Ireland – 0.6%
DCC PLC
Dragon Oil PLC
Glanbia PLC
Kerry Group PLC Class A
Paddy Power PLC
Smurfit Kappa Group PLC
Value
$
391,870
189,943
70,415
39,842
60,239
44,336
426,700
20,381
165,442
439,517
141,029
405,231
111,266
269,582
196,331
527,637
87,466
230,741
178,386
329,731
296,113
248,505
201,613
471,819
217,800
68,222
166,613
138,424
6,135,194
3,663
21,147
1,945
2,490
979
4,599
Total Ireland
199,081
193,528
29,863
190,158
77,585
111,559
801,774
Israel – 0.8%
Azrieli Group
Bezeq The Israeli Telecommunication Corp., Ltd.
Gazit-Globe Ltd.
Osem Investments Ltd.
2,146
545,573
5,102
1,924
Total Israel
75,014
970,891
65,782
45,160
1,156,847
Italy – 4.9%
A2A SpA
Atlantia SpA
Autogrill SpA*
Azimut Holding SpA
Banca Generali SpA
Davide Campari-Milano SpA
De’Longhi SpA
53,130
54,287
16,754
4,771
6,132
11,227
8,013
68,906
1,395,412
171,683
170,309
202,412
92,068
180,568
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 87
Schedule of Investments (continued)
WisdomTree International MidCap Dividend Fund (DIM)
March 31, 2014
Investments
DiaSorin SpA
Enel Green Power SpA
GTECH SpA
Hera SpA
Mediolanum SpA
Parmalat SpA
Pirelli & C. SpA
Prysmian SpA
Recordati SpA
Salvatore Ferragamo SpA
Societa Iniziative Autostradali e Servizi SpA
Telecom Italia SpA RSP
Terna Rete Elettrica Nazionale SpA
Tod’s SpA
Unione di Banche Italiane SCPA
Shares
2,090
143,844
10,369
92,768
42,293
75,494
20,582
5,264
9,307
2,981
48,540
536,379
159,185
1,099
11,577
Value
$
Total Italy
Japan – 16.5%
ABC-Mart, Inc.
Aeon Co., Ltd.
Air Water, Inc.
Aisin Seiki Co., Ltd.
Ajinomoto Co., Inc.
Alfresa Holdings Corp.
Amada Co., Ltd.
ANA Holdings, Inc.
Aozora Bank Ltd.
Asahi Glass Co., Ltd.
Asahi Kasei Corp.
Asics Corp.
Bank of Kyoto Ltd. (The)
Bank of Yokohama Ltd. (The)
Brother Industries Ltd.
Chiba Bank Ltd. (The)
Chugai Pharmaceutical Co., Ltd.
Chugoku Bank Ltd. (The)
Chugoku Electric Power Co., Inc. (The)
Dai Nippon Printing Co., Ltd.
Daihatsu Motor Co., Ltd.
Dainippon Sumitomo Pharma Co., Ltd.
Daito Trust Construction Co., Ltd.
Dena Co., Ltd.
DIC Corp.
Dowa Holdings Co., Ltd.
Electric Power Development Co., Ltd.
FamilyMart Co., Ltd.
Fuji Electric Co., Ltd.
FUJIFILM Holdings Corp.
Fukuoka Financial Group, Inc.
Gree, Inc.
Gunma Bank Ltd. (The)
Hachijuni Bank Ltd. (The)
Hamamatsu Photonics K.K.
Hankyu Hanshin Holdings, Inc.
89,729
404,039
315,118
271,058
399,289
260,332
323,385
131,027
162,908
87,800
584,039
501,960
853,014
142,760
109,139
6,916,955
1,678
11,099
7,000
5,324
4,319
1,000
13,000
61,000
116,000
63,141
49,000
2,830
13,000
37,000
8,300
30,000
10,509
6,100
14,200
42,958
17,400
10,590
4,220
3,900
45,000
10,000
5,800
3,800
22,876
9,092
45,000
6,605
14,000
11,000
2,300
27,000
72,995
125,340
97,063
192,571
61,859
65,349
91,644
132,087
331,155
366,639
334,010
55,756
107,550
185,027
116,298
185,270
268,886
81,503
198,415
412,540
308,008
168,642
391,370
70,589
118,415
83,701
164,170
167,335
102,402
244,637
185,270
73,115
76,399
62,698
103,850
147,342
Investments
Shares
Hikari Tsushin, Inc.
Hino Motors Ltd.
Hiroshima Bank Ltd. (The)
Hisamitsu Pharmaceutical Co., Inc.
Hitachi Capital Corp.
Hitachi Chemical Co., Ltd.
Hitachi Construction Machinery Co., Ltd.
Hitachi High-Technologies Corp.
Hokuhoku Financial Group, Inc.
Hokuriku Electric Power Co.
Hoya Corp.
Ibiden Co., Ltd.
Idemitsu Kosan Co., Ltd.
IHI Corp.
Isetan Mitsukoshi Holdings Ltd.
Itochu Techno-Solutions Corp.
Iyo Bank Ltd. (The)
J Front Retailing Co., Ltd.
Japan Airlines Co., Ltd.
JGC Corp.
Joyo Bank Ltd. (The)
JSR Corp.
Kajima Corp.
Kakaku.Com, Inc.
Kansai Paint Co., Ltd.
Kawasaki Heavy Industries Ltd.
Keikyu Corp.
Keio Corp.
Kintetsu Corp.
Koito Manufacturing Co., Ltd.
Konami Corp.
Konica Minolta, Inc.
Kuraray Co., Ltd.
Kurita Water Industries Ltd.
Kyowa Hakko Kirin Co., Ltd.
Lawson, Inc.
LIXIL Group Corp.
Makita Corp.
Marui Group Co., Ltd.
MEIJI Holdings Co., Ltd.
Miraca Holdings, Inc.
Mitsubishi Chemical Holdings Corp.
Mitsubishi Gas Chemical Co., Inc.
Mitsubishi Tanabe Pharma Corp.
Mitsui Chemicals, Inc.
Nabtesco Corp.
Namco Bandai Holdings, Inc.
NEC Corp.
NGK Insulators Ltd.
NGK Spark Plug Co., Ltd.
Nidec Corp.
Nikon Corp.
Nippon Electric Glass Co., Ltd.
Nippon Express Co., Ltd.
1,000
9,000
26,075
3,000
4,955
7,400
5,700
3,200
52,000
7,200
16,144
5,100
5,600
37,553
5,834
2,300
12,300
8,000
7,389
4,000
40,000
8,300
31,953
1,000
9,000
37,565
13,000
16,000
47,000
4,000
5,300
18,000
14,300
4,200
13,000
4,600
8,900
2,929
8,881
2,200
1,000
58,500
16,000
16,900
51,000
2,100
10,700
51,608
10,000
5,000
4,044
3,934
24,000
34,000
See Notes to Financial Statements.
88 WisdomTree International Dividend and Sector Funds
Value
$
84,575
133,796
109,126
135,894
106,235
100,956
110,032
74,698
99,976
93,614
503,672
100,727
115,225
158,256
72,171
97,262
117,763
55,154
364,481
139,438
200,029
154,177
112,317
16,303
128,902
138,609
109,822
111,706
167,490
67,855
122,741
168,316
163,849
91,312
138,855
326,067
245,952
161,261
76,319
139,069
43,890
243,691
90,421
236,799
125,290
48,409
253,824
158,856
208,768
112,638
246,563
63,488
123,746
166,723
Schedule of Investments (continued)
WisdomTree International MidCap Dividend Fund (DIM)
March 31, 2014
Investments
Shares
Nippon Meat Packers, Inc.
Nisshin Seifun Group, Inc.
Nissin Foods Holdings Co., Ltd.
Nitori Holdings Co., Ltd.
Nitto Denko Corp.
NKSJ Holdings, Inc.
Nomura Real Estate Holdings, Inc.
Nomura Research Institute Ltd.
NSK Ltd.
Obayashi Corp.
Odakyu Electric Railway Co., Ltd.
Oji Holdings Corp.
Oracle Corp.
Osaka Gas Co., Ltd.
OTSUKA Corp.
Park24 Co., Ltd.
Ricoh Co., Ltd.
Sankyo Co., Ltd.
Sanrio Co., Ltd.
Sega Sammy Holdings, Inc.
Seiko Epson Corp.
Sekisui Chemical Co., Ltd.
Sekisui House Ltd.
Shimadzu Corp.
Shimamura Co., Ltd.
Shimizu Corp.
Shinsei Bank Ltd.
Shionogi & Co., Ltd.
Shiseido Co., Ltd.
Shizuoka Bank Ltd. (The)
Showa Denko K.K.
Showa Shell Sekiyu K.K.
Sojitz Corp.
Sony Financial Holdings, Inc.
Sumitomo Electric Industries Ltd.
Sumitomo Heavy Industries Ltd.
Sumitomo Metal Mining Co., Ltd.
Sumitomo Rubber Industries Ltd.
Suruga Bank Ltd.
Suzuken Co., Ltd.
Sysmex Corp.
T&D Holdings, Inc.
Taiheiyo Cement Corp.
Taisei Corp.
Takashimaya Co., Ltd.
TDK Corp.
Teijin Ltd.
Terumo Corp.
Tobu Railway Co., Ltd.
Toho Co., Ltd.
Toho Gas Co., Ltd.
Tokyo Electron Ltd.
Tokyu Corp.
Tokyu Fudosan Holdings Corp.
5,000
6,800
3,900
1,000
4,405
14,711
4,468
6,890
8,000
27,000
13,000
46,862
3,068
55,000
800
3,100
27,260
5,100
800
6,673
5,964
11,000
19,352
10,000
1,100
28,000
25,806
12,000
17,500
10,000
32,000
16,909
44,470
8,809
11,812
17,500
24,000
6,300
2,000
2,300
1,800
18,651
14,000
31,876
6,415
3,400
36,000
6,600
26,000
4,400
11,000
2,794
24,000
6,467
Value
$
74,623
74,877
176,283
43,453
211,385
378,828
85,468
218,104
82,497
152,585
112,220
210,227
139,272
208,817
104,714
59,059
314,991
215,172
27,033
149,808
185,895
114,609
240,714
89,042
95,383
145,458
50,868
222,906
308,589
97,781
45,366
151,382
75,999
144,557
176,174
71,200
302,025
80,383
35,306
89,222
57,504
222,215
50,570
142,689
60,297
142,293
89,489
144,388
125,979
88,397
60,028
171,598
147,051
48,353
Investments
Shares
TonenGeneral Sekiyu K.K.
Toppan Printing Co., Ltd.
Toray Industries, Inc.
Toyo Seikan Group Holdings Ltd.
Toyo Suisan Kaisha Ltd.
Toyoda Gosei Co., Ltd.
Toyota Boshoku Corp.
Toyota Tsusho Corp.
Trend Micro, Inc.
USS Co., Ltd.
West Japan Railway Co.
Yamada Denki Co., Ltd.
Yamaguchi Financial Group, Inc.
Yamaha Motor Co., Ltd.
Yamato Holdings Co., Ltd.
Yaskawa Electric Corp.
34,104
16,000
21,290
5,300
4,000
4,100
7,000
9,200
5,430
13,900
6,376
21,170
7,000
4,760
9,900
4,218
Total Japan
301,682
114,813
140,989
86,253
133,806
78,787
70,894
234,053
168,460
195,573
260,897
70,714
63,213
76,032
213,794
58,446
23,268,540
Netherlands – 2.7%
Aalberts Industries N.V.
Delta Lloyd N.V.
Fugro N.V.
Gemalto N.V.
Koninklijke Boskalis Westminster N.V.
Koninklijke Vopak N.V.
Nutreco N.V.
Randstad Holding N.V.
STMicroelectronics N.V.
Wolters Kluwer N.V.
Ziggo N.V.
3,280
21,062
4,051
789
5,341
3,422
2,793
10,120
56,303
19,887
11,325
Total Netherlands
New Zealand – 1.2%
Auckland International Airport Ltd.
Contact Energy Ltd.
Fletcher Building Ltd.
Telecom Corp. of New Zealand Ltd.
Vector Ltd.
Norway – 2.3%
Aker ASA Class A
Aker Solutions ASA
Fred Olsen Energy ASA
Gjensidige Forsikring ASA
Kongsberg Gruppen ASA
Marine Harvest ASA
Norsk Hydro ASA
Orkla ASA
Petroleum Geo-Services ASA
Schibsted ASA
SpareBank 1 SR Bank ASA
TGS Nopec Geophysical Co. ASA
114,373
584,202
249,210
91,932
294,228
191,155
124,145
592,855
521,469
561,341
503,380
3,828,290
88,714
20,100
63,397
271,226
93,936
Total New Zealand
Total Norway
Value
$
293,300
92,790
523,721
574,269
198,077
1,682,157
6,090
15,923
6,688
47,544
3,996
6,589
88,019
65,106
4,615
2,740
5,493
5,511
196,827
248,005
223,415
967,231
91,106
74,617
438,842
555,142
56,193
170,064
55,737
180,692
3,257,871
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 89
Schedule of Investments (continued)
WisdomTree International MidCap Dividend Fund (DIM)
March 31, 2014
Investments
Portugal – 0.6%
Portucel S.A.
Portugal Telecom, SGPS, S.A.
Shares
48,395
148,942
Value
$
Total Portugal
Singapore – 3.7%
City Developments Ltd.
ComfortDelGro Corp., Ltd.
First Resources Ltd.
Hutchison Port Holdings Trust Class U
Keppel Land Ltd.
M1 Ltd.
Olam International Ltd.
SATS Ltd.
Sembcorp Industries Ltd.
SembCorp Marine Ltd.
SIA Engineering Co., Ltd.
Singapore Airlines Ltd.
Singapore Exchange Ltd.
Singapore Press Holdings Ltd.
Singapore Technologies Engineering Ltd.
StarHub Ltd.
United Industrial Corp., Ltd.
854,008
22,000
119,000
38,000
845,585
120,000
63,000
100,000
93,000
79,000
140,751
84,536
18,961
85,000
139,148
183,000
129,594
27,000
Total Singapore
Spain – 4.2%
Acerinox S.A.
ACS Actividades de Construccion y Servicios, S.A.
Banco de Sabadell S.A.
Bankinter S.A.
Bolsas y Mercados Espanoles S.A.
Ebro Foods S.A.
EDP Renovaveis S.A.
Enagas S.A.
Indra Sistemas S.A.
Mapfre S.A.
Obrascon Huarte Lain S.A.
Prosegur Cia de Seguridad S.A.
Red Electrica Corp. S.A.
Tecnicas Reunidas S.A.
Viscofan S.A.
Zardoya Otis S.A.
176,693
187,838
70,709
549,630
320,623
173,838
176,534
224,818
344,885
453,295
325,358
157,864
469,087
464,730
555,890
432,822
67,632
5,152,246
15,024
25,658
142,592
21,706
5,916
10,646
7,470
20,367
8,239
192,331
5,597
17,163
9,737
3,460
2,550
23,310
Total Spain
Sweden – 4.9%
Alfa Laval AB
Atlas Copco AB Class B
Axfood AB
Boliden AB
Castellum AB
Electrolux AB Series B
Elekta AB Class B
Getinge AB Class B
Hexagon AB Class B
Husqvarna AB Class B
Investment AB Latour Class B
220,311
633,697
241,442
1,008,380
440,614
174,711
240,820
246,357
49,769
619,663
165,619
811,145
243,379
110,468
791,781
195,542
133,429
397,090
5,870,209
12,659
19,832
3,360
16,245
11,313
16,051
5,917
6,515
5,153
27,117
10,051
341,879
542,023
185,528
246,548
187,749
349,562
78,713
182,180
174,772
189,046
303,380
Investments
Shares
Lundbergforetagen AB Class B
Meda AB Class A
Modern Times Group AB Class B
Saab AB Class B
Scania AB Class B
Securitas AB Class B
Skanska AB Class B
SKF AB Class B
Swedish Match AB
Tele2 AB Class B
Trelleborg AB Class B
Volvo AB Class A
5,579
10,617
2,837
5,307
18,675
23,580
22,876
16,137
10,084
55,601
8,029
29,920
Total Sweden
Switzerland – 3.4%
Actelion Ltd.*
Adecco S.A.*
Allreal Holding AG*
Aryzta AG*
Baloise Holding AG
Clariant AG*
DKSH Holding AG
Ems-Chemie Holding AG
Flughafen Zuerich AG
Galenica AG
GAM Holding AG*
Geberit AG
Julius Baer Group Ltd.*
Lonza Group AG*
OC Oerlikon Corp. AG*
Panalpina Welttransport Holding AG
Partners Group Holding AG
Schindler Holding AG
Schindler Holding AG Participating Shares
Sonova Holding AG*
Straumann Holding AG
Sulzer AG
Swiss Life Holding AG*
See Notes to Financial Statements.
90 WisdomTree International Dividend and Sector Funds
263,395
162,852
132,233
161,742
547,846
272,585
538,068
412,413
328,950
688,629
161,731
481,319
6,933,143
2,579
6,976
1,146
811
3,679
13,614
663
614
81
163
4,830
436
3,012
1,737
6,872
1,465
1,683
1,709
1,719
1,179
635
1,405
786
Total Switzerland
United Kingdom – 15.6%
Aberdeen Asset Management PLC
Admiral Group PLC
Aggreko PLC
AMEC PLC
Amlin PLC
Ashmore Group PLC
Ashtead Group PLC
Babcock International Group PLC
Balfour Beatty PLC
Booker Group PLC
British Land Co. PLC
Bunzl PLC
Burberry Group PLC
Capita PLC
Value
$
244,368
580,840
165,410
71,703
463,129
264,775
52,764
231,983
52,129
157,861
87,212
142,890
133,764
177,269
115,914
225,219
473,263
251,315
253,564
172,442
135,073
193,250
193,086
4,839,223
80,478
20,788
3,861
14,790
35,270
44,213
6,131
9,697
51,518
39,424
48,958
9,815
8,646
25,635
523,661
494,898
96,617
276,653
284,770
244,642
97,204
217,761
257,321
108,513
533,797
261,155
201,078
468,402
Schedule of Investments (concluded)
WisdomTree International MidCap Dividend Fund (DIM)
March 31, 2014
Investments
Carnival PLC
Close Brothers Group PLC
Cobham PLC
Croda International PLC
Daily Mail & General Trust PLC Class A
Derwent London PLC
Direct Line Insurance Group PLC
Drax Group PLC
DS Smith PLC
easyJet PLC
Essentra PLC
G4S PLC
GKN PLC
Halma PLC
Hammerson PLC
Hargreaves Lansdown PLC
Hikma Pharmaceuticals PLC
ICAP PLC
IG Group Holdings PLC
IMI PLC
Inchcape PLC
Inmarsat PLC
InterContinental Hotels Group PLC
Intertek Group PLC
Investec PLC
ITV PLC
J. Sainsbury PLC
Jardine Lloyd Thompson Group PLC
John Wood Group PLC
Johnson Matthey PLC
Jupiter Fund Management PLC
Ladbrokes PLC
London Stock Exchange Group PLC
Man Group PLC
Meggitt PLC
Melrose Industries PLC
Millennium & Copthorne Hotels PLC
Mondi PLC
Next PLC
Pennon Group PLC
PZ Cussons PLC
Rentokil Initial PLC
Rexam PLC
Rightmove PLC
Rotork PLC
Sage Group PLC (The)
Schroders PLC
Segro PLC
Serco Group PLC
Severn Trent PLC
Smith & Nephew PLC
Smiths Group PLC
Spectris PLC
Spirax-Sarco Engineering PLC
Shares
8,698
6,251
50,584
4,164
24,454
1,022
62,269
36,822
25,746
11,433
3,409
70,580
61,752
11,918
25,703
20,861
2,622
53,371
32,715
11,894
22,239
33,179
7,446
1,964
46,754
115,099
115,728
11,092
4,394
6,215
8,813
53,329
12,601
417,512
23,360
33,242
15,801
17,247
6,543
18,923
11,028
49,186
37,040
3,613
1,906
60,764
6,844
58,087
7,305
14,704
25,297
11,403
2,844
989
Value
$
331,200
147,150
252,150
176,744
354,278
46,174
246,553
470,231
139,283
326,888
49,587
284,167
401,813
114,446
237,393
507,069
72,607
335,979
342,244
289,108
239,509
401,859
239,210
100,586
377,882
367,464
609,871
196,755
56,186
338,919
58,888
120,025
413,853
704,408
186,895
164,540
148,836
301,622
719,939
234,240
64,753
100,861
300,605
158,898
84,111
423,547
296,431
321,508
51,272
446,886
383,361
241,814
109,905
47,651
Investments
Shares
Stagecoach Group PLC
TalkTalk Telecom Group PLC
Tate & Lyle PLC
Taylor Wimpey PLC
Travis Perkins PLC
TUI Travel PLC
United Utilities Group PLC
Vedanta Resources PLC
Victrex PLC
Weir Group PLC (The)
Whitbread PLC
William Hill PLC
WM Morrison Supermarkets PLC
29,772
46,702
26,135
26,664
5,985
70,231
43,508
15,353
1,559
5,994
5,948
46,044
134,210
Total United Kingdom
139,085,231
10,016
13,248
TOTAL EXCHANGE-TRADED FUNDS
(Cost: $1,207,886)
RIGHTS – 0.0%
Hong Kong – 0.0%
New World Development Co., Ltd.,
expiring 5/17/2014*
(Cost: $0)
TOTAL INVESTMENTS IN SECURITIES – 99.5%
(Cost: $107,514,775)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.5%
NET ASSETS – 100.0%
*
(a)
195,907
249,383
290,836
52,365
188,083
512,835
571,571
230,874
52,216
253,420
412,713
261,759
476,584
21,953,172
TOTAL COMMON STOCKS
(Cost: $106,306,889)
EXCHANGE-TRADED FUNDS – 0.9%
United States – 0.9%
WisdomTree Australia Dividend Fund(a)
WisdomTree Japan Hedged Equity Fund(a)
Value
$
611,578
627,160
1,238,738
98,160
20,247
140,344,216
737,654
$141,081,870
Non-income producing security.
Affiliated company (See Note 7).
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 91
Schedule of Investments
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
COMMON STOCKS – 98.3%
Australia – 14.9%
Acrux Ltd.
Adelaide Brighton Ltd.
Alliance Aviation Services Ltd.
Amcom Telecommunications Ltd.
AP Eagers Ltd.
ARB Corp., Ltd.
Arrium Ltd.
Atlas Iron Ltd.
Ausdrill Ltd.
Austbrokers Holdings Ltd.
Austin Engineering Ltd.
Australian Pharmaceutical Industries Ltd.
Automotive Holdings Group Ltd.
BC Iron Ltd.
Beach Energy Ltd.
Bradken Ltd.
Breville Group Ltd.
Brickworks Ltd.
BT Investment Management Ltd.
Cabcharge Australia Ltd.
Cardno Ltd.
carsales.com Ltd.
Cash Converters International Ltd.
Cedar Woods Properties Ltd.
Chandler Macleod Group Ltd.
Codan Ltd.
Collins Foods Ltd.
Corporate Travel Management Ltd.
CSG Ltd.*
CSR Ltd.
Data#3 Ltd.
David Jones Ltd.
Decmil Group Ltd.
Domino’s Pizza Enterprises Ltd.
Downer EDI Ltd.
DuluxGroup Ltd.
DWS Ltd.
Envestra Ltd.
ERM Power Ltd.
Ethane Pipeline Income Fund
Fairfax Media Ltd.
Fantastic Holdings Ltd.
Finbar Group Ltd.
Forge Group Ltd.(a)†
G8 Education Ltd.
Grange Resources Ltd.
GUD Holdings Ltd.
GWA Group Ltd.
iiNET Ltd.
Invocare Ltd.
IOOF Holdings Ltd.
Iress Ltd.
Shares
236,348
1,372,750
83,274
299,144
59,201
61,438
2,408,279
1,010,814
1,306,620
62,649
120,554
1,780,637
589,937
273,225
830,203
533,069
160,449
121,869
521,567
388,363
303,530
281,384
511,295
342,654
286,607
504,754
278,534
84,735
792,563
396,236
442,509
1,435,564
426,312
65,325
372,115
524,688
365,161
2,888,852
261,348
264,885
3,585,645
308,378
704,361
123,094
388,501
4,121,821
266,168
684,162
176,800
125,054
543,150
221,306
Value
$
376,782
5,102,058
101,881
576,704
279,839
685,604
3,013,354
913,451
968,833
598,082
256,992
932,467
2,126,987
1,200,351
1,311,953
2,154,167
1,418,714
1,603,951
3,528,926
1,457,815
2,025,553
2,829,689
452,569
2,366,038
110,241
292,395
516,319
498,708
672,147
1,289,052
272,743
4,324,297
817,914
1,210,930
1,731,372
2,786,540
380,756
3,012,225
595,887
249,191
3,040,871
543,058
1,168,578
0
1,825,617
993,281
1,344,503
1,851,618
1,214,255
1,254,106
4,455,255
1,759,908
Investments
JB Hi-Fi Ltd.
Lycopodium Ltd.
M2 Group Ltd.
MACA Ltd.
Magellan Financial Group Ltd.
MaxiTRANS Industries Ltd.
Melbourne IT Ltd.
Mermaid Marine Australia Ltd.
Mineral Resources Ltd.
Monadelphous Group Ltd.
Mortgage Choice Ltd.
Mount Gibson Iron Ltd.
Myer Holdings Ltd.
MyState Ltd.
Navitas Ltd.
NIB Holdings Ltd.
Northern Star Resources Ltd.
NRW Holdings Ltd.
Nufarm Ltd.
OrotonGroup Ltd.
OZ Minerals Ltd.
Pacific Brands Ltd.
PanAust Ltd.
Perpetual Ltd.
Prime Media Group Ltd.
Programmed Maintenance Services Ltd.
Qube Holdings Ltd.
RCG Corp., Ltd.
RCR Tomlinson Ltd.
Reckon Ltd.
Resolute Mining Ltd.*
Retail Food Group Ltd.
Ruralco Holdings Ltd.
SAI Global Ltd.
Sedgman Ltd.
Seven West Media Ltd.
Sigma Pharmaceuticals Ltd.
Silver Chef Ltd.
Skilled Group Ltd.
Slater & Gordon Ltd.
SMS Management & Technology Ltd.
STW Communications Group Ltd.
Super Retail Group Ltd.
Tassal Group Ltd.
Treasury Group Ltd.
UXC Ltd.
Village Roadshow Ltd.
Webjet Ltd.
Wotif.com Holdings Ltd.
156,023
85,440
188,779
273,314
61,101
410,265
240,633
217,796
333,553
251,116
287,428
3,775,999
1,861,557
232,008
581,149
774,085
754,969
1,847,036
131,789
120,547
682,109
2,590,489
516,836
36,796
788,179
247,604
894,535
469,752
157,179
195,005
1,447,900
227,879
63,719
287,849
1,328,533
2,229,839
3,149,251
51,595
598,622
157,036
188,124
1,070,441
224,197
172,218
56,111
528,001
227,455
95,047
405,885
Total Australia
Austria – 0.9%
AMAG Austria Metall AG
ams AG
See Notes to Financial Statements.
92 WisdomTree International Dividend and Sector Funds
Shares
Value
$
2,711,437
293,003
1,049,819
557,306
775,851
437,292
308,898
476,400
3,549,084
3,912,476
719,287
3,184,805
3,847,607
948,312
3,932,058
2,008,890
790,710
1,814,641
486,152
442,447
2,250,678
1,272,527
754,472
1,705,219
712,261
665,526
1,848,893
348,312
406,451
365,096
798,482
922,986
197,844
1,093,851
591,049
4,092,119
1,941,058
239,582
1,531,339
665,158
618,988
1,388,994
2,294,079
617,730
536,707
418,418
1,469,392
242,259
996,916
137,727,388
23,482
8,974
780,297
1,259,723
Schedule of Investments (continued)
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
Shares
Austria Technologie & Systemtechnik AG
CAT Oil AG
Lenzing AG
Palfinger AG
POLYTEC Holding AG
RHI AG
S IMMO AG*
Wienerberger AG
Zumtobel AG
40,707
29,272
23,786
14,525
51,485
29,484
87,509
39,306
27,315
Total Austria
Belgium – 1.4%
Arseus N.V.
Barco N.V.
Cofinimmo
EVS Broadcast Equipment S.A.
Exmar N.V.
Melexis N.V.
NV Bekaert S.A.
Recticel S.A.
25,736
7,148
35,398
18,514
85,259
34,751
54,281
55,357
18,985
22,007
21,946
Rubis
Saft Groupe S.A.
1,386,547
572,385
4,219,612
1,200,060
1,400,698
1,345,865
2,213,710
515,759
930,500
938,456
1,272,114
3,141,070
47,313
240,102
168,438
106,435
93,067
42,518
197,434
21,975
123,520
126,397
423,580
56,331
99,487
48,691
55,348
Total Finland
France – 2.2%
Akka Technologies
Albioma
Alten
April
Bourbon S.A.
Etablissements Maurel et Prom
IPSOS
Nexity S.A.
Rallye S.A.
Investments
490,914
611,819
1,311,322
564,538
559,868
949,061
645,862
753,011
677,644
12,854,636
Total Denmark
Finland – 2.6%
Cargotec Oyj Class B
Citycon Oyj
F-Secure Oyj
Huhtamaki Oyj
Kesko Oyj Class B
Lassila & Tikanoja Oyj
Metsa Board Oyj*
PKC Group Oyj
Raisio PLC Class V
Ramirent Oyj
Sanoma Oyj
Stockmann Oyj Abp Class B
Tieto Oyj
Tikkurila Oyj
Uponor Oyj
Value
8,604,059
Total Belgium
Denmark – 0.3%
Aktieselskabet Schouw & Co.
D/S Norden A/S
NKT Holding A/S
$
2,037,785
853,775
557,159
2,919,210
4,062,297
849,706
908,858
685,396
817,159
1,384,942
2,954,023
831,505
2,557,249
1,147,553
1,009,229
23,575,846
9,544
36,513
31,392
26,012
76,647
104,348
46,129
78,229
81,263
342,530
981,318
1,686,509
632,771
2,519,483
1,606,442
1,872,351
3,356,408
3,796,824
Shares
37,424
28,424
Total France
Value
$
2,695,035
993,879
20,483,550
Germany – 3.8%
Aurelius AG
Bauer AG
BayWa AG
Bechtle AG
Bertrandt AG
CompuGroup Medical AG
CropEnergies AG
CTS Eventim AG
Delticom AG
DMG MORI SEIKI AG
Drillisch AG
Gerresheimer AG
Gerry Weber International AG
Hamburger Hafen und Logistik AG
Indus Holding AG
Jenoptik AG
KHD Humboldt Wedag International AG
Leoni AG
NORMA Group SE
Pfeiffer Vacuum Technology AG
QSC AG
Rheinmetall AG
Sixt SE
SMA Solar Technology AG
Takkt AG
Wacker Neuson SE
Wincor Nixdorf AG
57,164
290
13,523
15,881
6,322
27,359
62,582
23,265
16,039
31,458
143,068
11,811
28,673
62,116
22,990
31,736
8,861
33,563
18,539
10,392
133,081
43,152
36,319
22,160
50,165
46,831
21,744
Total Germany
2,175,289
7,666
769,286
1,368,656
968,918
686,277
444,465
1,551,945
785,638
964,042
5,193,811
764,683
1,418,321
1,493,490
1,013,000
576,058
75,816
2,450,296
982,833
1,270,000
663,976
3,036,159
1,450,892
1,175,867
1,106,238
808,424
1,562,866
34,764,912
Hong Kong – 3.5%
China Power International Development Ltd.
China South City Holdings Ltd.
Chong Hing Bank Ltd.†
Citic Telecom International Holdings Ltd.
CSPC Pharmaceutical Group Ltd.
Dah Chong Hong Holdings Ltd.
Dah Sing Banking Group Ltd.
Dah Sing Financial Holdings Ltd.
Emperor Watch & Jewellery Ltd.
Goldlion Holdings Ltd.
Kowloon Development Co., Ltd.
Liu Chong Hing Investment Ltd.
Shenzhen Investment Ltd.
Shougang Fushan Resources Group Ltd.
Shun Tak Holdings Ltd.
Singamas Container Holdings Ltd.
SinoMedia Holding Ltd.
Sun Hung Kai & Co., Ltd.
Tradelink Electronic Commerce Ltd.
Vitasoy International Holdings Ltd.
6,166,000
10,824,000
250,000
2,491,000
2,132,000
1,586,000
1,430,400
258,800
5,019,869
1,917,000
1,877,000
446,000
10,350,000
7,870,000
2,056,000
3,366,000
459,060
3,252,000
1,210,000
553,364
2,138,254
4,939,630
873,399
931,269
1,888,197
1,032,519
2,257,056
1,217,757
381,811
889,668
2,267,291
919,937
3,349,018
2,394,364
1,057,546
772,392
384,076
2,087,773
297,935
803,254
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 93
Schedule of Investments (continued)
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
Welling Holding Ltd.
YGM Trading Ltd.
Shares
2,244,000
258,000
Value
$
Total Hong Kong
Ireland – 1.0%
C&C Group PLC
FBD Holdings PLC
Grafton Group PLC
Greencore Group PLC
Irish Continental Group PLC
Kingspan Group PLC
Origin Enterprises PLC
UDG Healthcare PLC
32,098,020
231,842
32,971
91,207
481,307
26,133
53,679
82,439
164,211
Total Ireland
Israel – 2.8%
Avgol Industries 1953 Ltd.
Babylon Ltd.
Clal Insurance Enterprise Holdings Ltd.*
Delek Automotive Systems Ltd.
Elbit Systems Ltd.
Elron Electronic Industries Ltd.*
Harel Insurance Investments & Financial
Services Ltd.
Ituran Location and Control Ltd.
Jerusalem Economy Ltd.
Magic Software Enterprises Ltd.
Matrix IT Ltd.
Migdal Insurance & Financial Holding Ltd.
Partner Communications Co., Ltd.*
Phoenix Holdings Ltd. (The)
Rami Levi Chain Stores Hashikma Marketing
2006 Ltd.
Shikun & Binui Ltd.
Shufersal Ltd.
Strauss Group Ltd.
1,511,086
840,682
983,801
2,212,247
1,096,742
1,021,706
863,524
960,913
9,490,701
506,752
66,420
224,893
215,132
30,058
118,374
539,109
104,669
4,456,427
2,270,809
1,828,378
1,148,416
160,699
40,910
74,637
65,673
125,448
1,104,550
179,731
437,178
971,980
1,016,259
769,861
527,808
724,260
1,886,199
1,644,803
1,734,858
14,672
686,757
525,599
66,226
850,015
1,689,664
2,097,788
1,196,950
Total Israel
Italy – 5.6%
ACEA SpA
Ansaldo STS SpA
Astaldi SpA
ASTM SpA
Banca IFIS SpA
Brembo SpA
Cairo Communication SpA
Credito Emiliano SpA
Danieli & C Officine Meccaniche SpA
Datalogic SpA
ERG SpA
Geox SpA
I.M.A. Industria Macchine Automatiche SpA
Immobiliare Grande Distribuzione
Indesit Co. SpA
Interpump Group SpA
Intesa Sanpaolo SpA RSP
682,713
532,161
25,458,253
217,530
102,876
92,802
61,400
75,437
55,087
215,689
277,626
33,353
47,865
222,934
227,397
52,017
974,474
86,896
77,416
2,443,641
3,219,966
1,205,914
956,724
1,041,728
1,664,576
2,086,381
2,006,594
2,762,646
1,112,904
608,243
3,610,290
1,024,850
2,577,342
1,741,960
1,326,989
1,192,890
6,937,971
Investments
Iren SpA
Italcementi SpA
MARR SpA
Piaggio & C. SpA
Salini Impregilo SpA
SAVE SpA
Societa Cattolica di Assicurazioni – Societa
Cooperativa
Trevi Finanziaria Industriale SpA
Unipol Gruppo Finanziario SpA
Vittoria Assicurazioni SpA
Zignago Vetro SpA
78,312
39,412
663,404
59,203
107,858
Total Italy
Japan – 22.6%
77 Bank Ltd. (The)
Achilles Corp.
Adastria Holdings Co., Ltd.
ADEKA Corp.
ADVAN Co., Ltd.
Aeon Delight Co., Ltd.
Ai Holdings Corp.
Aica Kogyo Co., Ltd.
Aichi Steel Corp.
Aida Engineering Ltd.
Airport Facilities Co., Ltd.
Akebono Brake Industry Co., Ltd.
Akita Bank Ltd. (The)
Alpen Co., Ltd.
Amano Corp.
Anritsu Corp.
AOKI Holdings, Inc.
Aomori Bank Ltd. (The)
Arcs Co., Ltd.
Ariake Japan Co., Ltd.
Asahi Diamond Industrial Co., Ltd.
Asahi Holdings, Inc.
Asahi Organic Chemicals Industry Co., Ltd.
ASKUL Corp.
Avex Group Holdings, Inc.
Awa Bank Ltd. (The)
Axell Corp.
Azbil Corp.
Bank of Iwate Ltd. (The)
Bank of Nagoya Ltd. (The)
Bank of Okinawa Ltd. (The)
Bank of Saga Ltd. (The)
Bank of the Ryukyus Ltd.
Calsonic Kansei Corp.
Canon Electronics, Inc.
Canon Marketing Japan, Inc.
Capcom Co., Ltd.
Central Glass Co., Ltd.
Chiyoda Co., Ltd.
Citizen Holdings Co., Ltd.
See Notes to Financial Statements.
94 WisdomTree International Dividend and Sector Funds
Shares
720,599
79,993
111,765
62,063
299,879
52,326
Value
$
1,301,046
987,843
2,190,450
222,399
1,830,955
952,682
2,010,801
441,890
5,184,287
864,923
933,555
51,998,799
244,000
232,000
15,860
64,000
27,200
33,300
33,500
31,600
170,000
4,500
78,500
90,100
214,000
26,100
61,000
80,200
43,000
241,000
28,500
22,200
49,500
31,700
219,000
24,800
23,000
54,000
25,700
54,200
16,600
166,000
8,300
258,000
47,000
172,000
33,900
73,800
52,100
189,000
27,200
152,800
1,099,345
322,144
396,404
739,525
317,732
628,265
592,028
705,427
670,195
42,909
580,832
404,197
619,236
472,403
631,412
922,824
612,109
666,942
557,353
516,064
631,097
515,585
495,480
782,638
404,904
287,867
421,741
1,340,988
803,525
649,590
350,988
561,169
626,606
800,000
592,513
1,015,435
990,550
614,798
590,828
1,152,844
Schedule of Investments (continued)
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
Coca-Cola West Co., Ltd.
COMSYS Holdings Corp.
CONEXIO Corp.
CyberAgent, Inc.
Daifuku Co., Ltd.
Daiichi Jitsugyo Co., Ltd.
Daiken Corp.
Daikoku Denki Co., Ltd.
Daikyo, Inc.
Dainichiseika Color & Chemicals Manufacturing
Co., Ltd.
Daio Paper Corp.
Daisan Bank Ltd. (The)
Daiseki Co., Ltd.
Daishi Bank Ltd. (The)
Daiwabo Holdings Co., Ltd.
DCM Holdings Co., Ltd.
Denki Kagaku Kogyo K.K.
Doshisha Co., Ltd.
Doutor Nichires Holdings Co., Ltd.
Dunlop Sports Co., Ltd.
Earth Chemical Co., Ltd.
EDION Corp.
Eighteenth Bank Ltd. (The)
Elematec Corp.
EXEDY Corp.
Ezaki Glico Co., Ltd.
FCC Co., Ltd.
France Bed Holdings Co., Ltd.
Fuji Oil Co., Ltd.
Fujikura Ltd.
Fujimi, Inc.
Fujitec Co., Ltd.
Fujitsu General Ltd.
Fukui Bank Ltd. (The)
Fukuyama Transporting Co., Ltd.
Furukawa Electric Co., Ltd.
GCA Savvian Corp.
GMO Internet, Inc.
GS Yuasa Corp.
Gulliver International Co., Ltd.
Gunze Ltd.
H2O RETAILING Corp.
Hakuto Co., Ltd.
Hanwa Co., Ltd.
Heiwa Real Estate Co., Ltd.
Heiwado Co., Ltd.
Higashi-Nippon Bank Ltd. (The)
Higo Bank Ltd. (The)
Hitachi Koki Co., Ltd.
Hitachi Kokusai Electric, Inc.
Hitachi Transport System Ltd.
Hitachi Zosen Corp.
Hogy Medical Co., Ltd.
Shares
62,400
54,600
55,600
27,443
43,500
4,000
203,000
18,100
606,000
76,000
48,000
292,000
24,700
244,000
221,000
91,900
404,000
28,300
35,900
46,349
22,500
113,500
248,000
16,600
27,100
50,000
25,400
203,000
33,700
169,000
29,900
37,000
25,000
225,000
168,000
233,000
17,600
72,400
170,000
48,540
277,000
83,000
47,800
213,000
23,800
31,400
301,000
85,000
106,800
27,000
45,000
111,100
6,600
$
Value
Investments
1,091,250
857,822
440,546
1,052,579
538,972
17,828
553,896
391,579
1,218,061
Hokkoku Bank Ltd. (The)
Hokuetsu Bank Ltd. (The)
Hokuetsu Kishu Paper Co., Ltd.
Hokuto Corp.
HORIBA Ltd.
Hyakugo Bank Ltd. (The)
Hyakujushi Bank Ltd. (The)
Ichiyoshi Securities Co., Ltd.
IDEC Corp.
Iida Group Holdings Co., Ltd.
Inaba Denki Sangyo Co., Ltd.
Inabata & Co., Ltd.
IT Holdings Corp.
Ito En Ltd.
Itochu Enex Co., Ltd.
Iwatani Corp.
Izumi Co., Ltd.
Japan Aviation Electronics Industry Ltd.
Japan Pulp & Paper Co., Ltd.
Japan Vilene Co., Ltd.
Japan Wool Textile Co., Ltd. (The)
J-Oil Mills, Inc.
Jowa Holdings Co., Ltd.
Juroku Bank Ltd. (The)
kabu.com Securities Co., Ltd.
KAGA ELECTRONICS Co., Ltd.
Kagome Co., Ltd.
Kagoshima Bank Ltd. (The)
Kaken Pharmaceutical Co., Ltd.
Kamigumi Co., Ltd.
Kandenko Co., Ltd.
Kaneka Corp.
Kato Sangyo Co., Ltd.
Kawasaki Kisen Kaisha Ltd.
Keihin Corp.
Keiyo Bank Ltd. (The)
Kitz Corp.
Kiyo Bank Ltd. (The)
KOA Corp.
Kobayashi Pharmaceutical Co., Ltd.
Kohnan Shoji Co., Ltd.
KOKUYO Co., Ltd.
Komeri Co., Ltd.
Konaka Co., Ltd.
Kose Corp.
K’s Holdings Corp.
Kurabo Industries Ltd.
Kureha Corp.
KYB Co., Ltd.
Kyodo Printing Co., Ltd.
KYORIN Holdings, Inc.
Kyoto Kimono Yuzen Co., Ltd.
Kyowa Exeo Corp.
Lintec Corp.
353,488
577,482
513,201
426,917
897,956
386,270
615,730
1,388,707
436,928
633,396
563,470
820,386
633,709
544,235
287,883
759,963
663,689
453,074
380,434
432,601
774,559
373,659
501,908
241,783
554,935
1,011,409
581,454
151,929
723,402
902,947
377,536
736,981
663,291
448,828
827,305
380,855
442,408
742,380
453,950
838,969
324,834
732,340
530,769
338,379
Shares
208,000
328,000
149,500
30,200
19,200
210,000
229,000
22,597
51,200
51,824
28,600
62,300
38,700
44,300
133,200
179,000
28,800
20,000
203,000
46,000
51,000
188,000
23,100
242,000
40,000
48,800
33,100
80,000
55,000
78,000
177,000
271,000
29,000
271,000
34,200
213,000
80,000
51,591
32,900
20,300
35,200
90,900
23,700
27,100
26,600
27,500
299,000
202,000
119,000
71,000
44,800
35,900
61,300
35,400
Value
$
729,116
687,945
751,964
629,600
725,232
864,592
787,163
302,581
480,754
719,100
921,998
636,399
636,576
993,669
766,982
1,171,491
852,940
299,461
689,906
260,854
396,174
502,015
763,757
845,948
189,931
675,244
562,139
508,812
871,583
759,664
898,878
1,647,288
618,100
586,814
499,459
910,035
392,290
662,264
367,384
1,172,841
357,178
666,403
645,977
188,675
875,603
766,107
540,020
957,188
503,802
201,311
857,414
353,126
789,278
676,479
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 95
Schedule of Investments (continued)
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
Lion Corp.
Maeda Corp.
Maeda Road Construction Co., Ltd.
Makino Milling Machine Co., Ltd.
Mandom Corp.
Mars Engineering Corp.
Maruha Nichiro Corp.*
Matsumotokiyoshi Holdings Co., Ltd.
Meitec Corp.
Mie Bank Ltd. (The)
Mimasu Semiconductor Industry Co., Ltd.
Minebea Co., Ltd.
Mitsubishi Shokuhin Co., Ltd.
Mitsuboshi Belting Ltd.
Mitsui Engineering & Shipbuilding Co., Ltd.
Mitsui Mining & Smelting Co., Ltd.
MITSUI-SOKO Co., Ltd.
Miura Co., Ltd.
Miyazaki Bank Ltd. (The)
Mizuno Corp.
Mochida Pharmaceutical Co., Ltd.
Modec, Inc.
Monex Group, Inc.
Morinaga & Co., Ltd.
Morinaga Milk Industry Co., Ltd.
Moshi Moshi Hotline, Inc.
Musashi Seimitsu Industry Co., Ltd.
Musashino Bank Ltd. (The)
Nachi-Fujikoshi Corp.
Nagaileben Co., Ltd.
Nagase & Co., Ltd.
Nanto Bank Ltd. (The)
NEC Networks & System Integration Corp.
NET One Systems Co., Ltd.
NICHIAS Corp.
Nichicon Corp.
Nichii Gakkan Co.
Nichi-Iko Pharmaceutical Co., Ltd.
Nichirei Corp.
NIDEC COPAL ELECTRONICS Corp.
Nifco, Inc.
Nihon Kohden Corp.
Nihon Parkerizing Co., Ltd.
Nihon Unisys Ltd.
Nikkiso Co., Ltd.
Nippo Corp.
Nippon Beet Sugar Manufacturing Co., Ltd.
Nippon Coke & Engineering Co., Ltd.
Nippon Flour Mills Co., Ltd.
Nippon Kayaku Co., Ltd.
Nippon Konpo Unyu Soko Co., Ltd.
Nippon Shinyaku Co., Ltd.
Nippon Shokubai Co., Ltd.
Nippon Steel & Sumikin Bussan Corp.
Shares
228,000
34,000
27,000
61,000
19,100
24,700
58,200
27,400
35,100
261,000
45,700
207,000
26,600
62,000
426,000
236,000
48,000
23,800
181,000
60,000
8,800
8,400
243,238
289,000
301,000
76,600
20,100
23,000
95,000
29,000
67,100
176,000
28,900
92,946
55,000
32,600
49,200
22,300
193,000
74,400
30,100
20,800
19,000
48,800
1,000
21,000
275,000
651,900
174,000
58,000
47,400
20,000
59,000
36,000
$
Value
Investments
1,352,702
214,594
377,269
430,616
691,780
466,011
943,769
874,001
998,621
585,435
407,810
1,845,181
604,140
351,585
901,762
545,400
192,028
656,560
551,867
338,496
631,471
213,049
947,113
634,209
970,355
705,120
414,745
763,801
627,276
619,789
830,728
664,796
588,748
632,666
353,547
258,622
458,152
344,293
817,090
484,754
852,276
831,111
440,569
478,120
11,128
290,576
534,058
784,926
954,605
654,989
837,215
380,055
698,364
115,706
Nippon Synthetic Chemical Industry Co., Ltd. (The)
Nippon Valqua Industries Ltd.
Nishimatsu Construction Co., Ltd.
Nishi-Nippon City Bank Ltd. (The)
Nishi-Nippon Railroad Co., Ltd.
Nissan Chemical Industries Ltd.
Nisshin Oillio Group Ltd. (The)
Nisshinbo Holdings, Inc.
Nissin Electric Co., Ltd.
Nissin Kogyo Co., Ltd.
Nitto Boseki Co., Ltd.
Nitto Kogyo Corp.
NOF Corp.
NORITAKE Co., Ltd.
Noritz Corp.
North Pacific Bank Ltd.
NS Solutions Corp.
Ogaki Kyoritsu Bank Ltd. (The)
Oita Bank Ltd. (The)
Okamura Corp.
Okinawa Electric Power Co., Inc. (The)
OKUMA Corp.
OKUMURA Corp.
Onward Holdings Co., Ltd.
OSG Corp.
PACK Corp. (The)
PAL Co., Ltd.
Paltac Corp.
PanaHome Corp.
Paramount Bed Holdings Co., Ltd.
Parco Co., Ltd.
Pigeon Corp.
Plenus Co., Ltd.
Pola Orbis Holdings, Inc.
Press Kogyo Co., Ltd.
Relo Holdings, Inc.
Rengo Co., Ltd.
Resorttrust, Inc.
RIKEN Corp.
Riso Kagaku Corp.
Riso Kyoiku Co., Ltd.
Round One Corp.
Ryobi Ltd.
Ryoden Trading Co., Ltd.
Ryohin Keikaku Co., Ltd.
Ryosan Co., Ltd.
SAIBUGAS Co., Ltd.
San-Ai Oil Co., Ltd.
Sanden Corp.
San-In Godo Bank Ltd. (The)
Sankyo Seiko Co., Ltd.
Sankyu, Inc.
Sanwa Holdings Corp.
Sanyo Chemical Industries Ltd.
See Notes to Financial Statements.
96 WisdomTree International Dividend and Sector Funds
Shares
29,000
248,000
185,000
548,000
189,000
83,700
286,000
66,000
34,000
33,400
92,000
25,700
81,000
206,000
26,600
37,600
33,000
397,000
177,000
45,000
6,400
72,000
181,000
164,000
45,000
30,800
16,400
44,476
83,000
12,571
53,500
18,300
48,700
20,717
130,000
10,199
199,000
52,800
79,000
17,520
51,606
88,700
82,000
52,000
6,600
30,800
280,078
80,000
84,000
59,000
112,000
267,000
134,000
60,000
Value
$
208,661
688,722
599,990
1,234,510
715,735
1,258,934
933,107
565,247
175,637
624,314
430,587
540,527
587,532
522,076
496,950
152,978
749,818
1,087,090
689,197
395,009
217,197
583,075
808,467
1,138,612
782,153
589,173
315,786
508,309
571,413
393,664
456,634
828,062
1,134,450
825,783
472,108
557,561
1,070,505
818,776
319,882
434,321
127,781
761,381
250,813
354,964
637,025
651,679
709,816
490,945
375,200
399,883
407,826
1,003,340
870,476
385,105
Schedule of Investments (continued)
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
Sanyo Shokai Ltd.
Sapporo Holdings Ltd.
Sato Holdings Corp.
Sawai Pharmaceutical Co., Ltd.
Seino Holdings Corp.
Senko Co., Ltd.
Senshu Ikeda Holdings, Inc.
Senshukai Co., Ltd.
Shiga Bank Ltd. (The)
Shikoku Bank Ltd. (The)
Shimachu Co., Ltd.
Shinko Electric Industries Co., Ltd.
Shinko Plantech Co., Ltd.
SHIP HEALTHCARE HOLDINGS, Inc.
Showa Corp.
Sinanen Co., Ltd.
Sotetsu Holdings, Inc.
Square Enix Holdings Co., Ltd.
St. Marc Holdings Co., Ltd.
Star Micronics Co., Ltd.
Start Today Co., Ltd.
Starzen Co., Ltd.
Studio Alice Co., Ltd.
Sugi Holdings Co., Ltd.
Sumitomo Bakelite Co., Ltd.
Sumitomo Osaka Cement Co., Ltd.
Sumitomo Warehouse Co., Ltd. (The)
Systena Corp.
Tadano Ltd.
Taikisha Ltd.
Taiyo Holdings Co., Ltd.
Taiyo Yuden Co., Ltd.
Takara Standard Co., Ltd.
Takasago Thermal Engineering Co., Ltd.
Takata Corp.
Tamron Co., Ltd.
Temp Holdings Co., Ltd.
T-Gaia Corp.
TOA Corp.
TOAGOSEI Co., Ltd.
Toda Corp.
Toho Bank Ltd. (The)
Toho Holdings Co., Ltd.
Tokai Carbon Co., Ltd.
Tokai Rika Co., Ltd.
Tokai Rubber Industries Ltd.
Token Corp.
Tokuyama Corp.
TOKYO DOME Corp.
TOKYOTOKEIBA Co., Ltd.
Tokyu Fudosan Holdings Corp.
TOMONY Holdings, Inc.
TOMY Co., Ltd.
Toppan Forms Co., Ltd.
Shares
184,000
302,000
24,200
9,000
52,000
118,000
267,554
51,100
76,000
205,000
32,100
57,100
58,300
10,788
46,000
186,000
302,000
75,500
8,200
45,500
27,128
193,000
300
17,400
208,000
276,000
77,000
51,900
23,000
22,600
23,500
23,300
59,000
86,000
30,100
23,600
8,700
77,800
32,000
209,000
189,000
212,000
23,300
200,000
36,300
57,300
6,590
147,000
34,000
55,000
78,500
137,590
85,200
82,800
$
Value
Investments
Shares
537,787
1,190,581
561,851
553,187
496,344
513,317
1,223,653
417,791
413,264
422,003
701,316
413,065
452,315
414,822
506,520
713,405
1,108,472
1,557,873
404,486
549,614
696,211
517,240
3,790
774,666
801,826
1,144,361
376,084
374,440
299,714
491,128
697,116
288,012
453,163
882,672
758,163
560,295
231,302
703,324
325,329
897,004
622,139
691,674
494,122
679,711
611,198
588,106
300,113
482,459
174,977
164,490
586,930
573,153
395,452
772,645
Topy Industries Ltd.
Toshiba Machine Co., Ltd.
Toshiba Plant Systems & Services Corp.
Toshiba TEC Corp.
TOSOH Corp.
Towa Bank Ltd. (The)
Toyo Ink SC Holdings Co., Ltd.
Toyo Kohan Co., Ltd.
Toyo Securities Co., Ltd.
Toyo Tire & Rubber Co., Ltd.
Toyobo Co., Ltd.
Tsubakimoto Chain Co.
Tsumura & Co.
Tsuruha Holdings, Inc.
UACJ Corp.
Ube Industries, Ltd.
Unipres Corp.
United Arrows Ltd.
UNY Group Holdings Co., Ltd.
USHIO, Inc.
Valor Co., Ltd.
Wacoal Holdings Corp.
Wacom Co., Ltd.
Xebio Co., Ltd.
Yachiyo Bank Ltd. (The)
Yamazen Corp.
Yokohama Reito Co., Ltd.
Yuasa Trading Co., Ltd.
ZENRIN Co., Ltd.
Zensho Holdings Co., Ltd.
ZERIA Pharmaceutical Co., Ltd.
217,000
6,000
20,000
86,000
261,000
294,000
220,000
78,000
96,000
106,000
678,000
5,000
37,600
6,000
348,540
777,000
21,900
17,600
210,900
53,800
25,900
77,000
91,300
24,300
8,300
76,600
57,600
284,000
35,300
55,000
25,300
Total Japan
Value
$
383,493
28,431
298,684
490,188
1,008,671
288,333
890,809
383,240
329,058
752,401
1,066,524
35,830
905,452
591,348
1,441,744
1,433,510
394,470
652,833
1,257,393
695,845
326,186
787,309
642,739
423,542
227,437
506,526
480,443
581,871
357,165
539,933
514,918
209,176,294
Netherlands – 1.3%
Amsterdam Commodities N.V.
Arcadis N.V.
BE Semiconductor Industries N.V.
BinckBank N.V.
Brunel International N.V.
Corbion N.V.
Koninklijke BAM Groep N.V.
Koninklijke Ten Cate N.V.
TKH Group N.V.
USG People N.V.
37,190
41,399
79,068
133,623
17,685
78,479
187,386
20,644
35,112
54,189
Total Netherlands
New Zealand – 2.7%
Air New Zealand Ltd.
Ebos Group Ltd.
Fisher & Paykel Healthcare Corp., Ltd.
Freightways Ltd.
Infratil Ltd.
Kathmandu Holdings Ltd.
Mainfreight Ltd.
Nuplex Industries Ltd.
913,658
1,592,778
1,222,160
1,580,695
1,240,167
1,852,843
1,123,451
635,631
1,226,765
875,320
12,263,468
1,429,380
76,193
845,886
222,066
920,359
297,078
74,533
373,851
2,536,504
677,694
3,119,574
932,657
1,804,929
992,489
856,957
1,122,455
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 97
Schedule of Investments (continued)
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
NZX Ltd.
PGG Wrightson Ltd.
Port of Tauranga Ltd.
Restaurant Brands New Zealand Ltd.
SKY Network Television Ltd.
SKYCITY Entertainment Group Ltd.
TOWER Ltd.
Trade Me Ltd.
Warehouse Group Ltd. (The)
Shares
446,176
2,413,543
89,390
246,657
614,341
895,801
359,913
543,245
433,484
$
Total New Zealand
Norway – 1.6%
Atea ASA
Austevoll Seafood ASA
Borregaard ASA
Cermaq ASA
Ekornes ASA
Kvaerner ASA
Leroey Seafood Group ASA
SpareBank 1 SMN
Tomra Systems ASA
Veidekke ASA
Wilh. Wilhelmsen ASA Class B
242,775
191,732
112,363
23,131
31,782
776,198
63,401
111,826
79,258
169,771
212,228
Raffles Medical Group Ltd.
Rickmers Maritime
Saizen REIT
Sinarmas Land Ltd.
Singapore Post Ltd.
SMRT Corp., Ltd.
Stamford Land Corp., Ltd.
Super Group Ltd.
Technics Oil & Gas Ltd.*
UMS Holdings Ltd.
United Engineers Ltd.
Venture Corp., Ltd.
Wee Hur Holdings Ltd.
Wing Tai Holdings Ltd.
2,666,164
1,136,868
752,584
256,923
504,303
1,659,471
2,059,694
1,003,941
761,199
1,758,095
2,011,665
14,570,907
247,165
2,009,865
74,487
2,444,168
735,591
262,159
1,093,347
4,594,871
2,189,868
2,059,527
Shares
297,000
2,647,000
1,018,400
821,000
2,674,000
2,129,000
2,040,000
263,000
160,000
1,851,014
542,000
511,000
1,973,000
864,000
Total Singapore
Spain – 1.0%
Abengoa S.A. Class B
Atresmedia Corp de Medios de
Comunicaion S.A.*
Caja de Ahorros del Mediterraneo*†
Cie Automotive S.A.
Duro Felguera S.A.
Ence Energia y Celulosa S.A.
Faes Farma S.A.
Pescanova S.A.*†
11,947,478
607,000
1,074,000
4,174,655
1,936,000
1,151,000
2,343,561
4,433,369
1,837,000
370,000
591,000
616,000
328,000
622,000
9,582,000
1,438,594
1,449,897
913,000
2,977,000
802,000
237,000
825,632
902,620
627,721
1,560,246
1,100,744
540,010
717,483
898,977
482,056
629,637
1,029,216
1,067,854
772,041
605,900
1,493,437
1,189,724
778,244
1,880,379
1,621,602
669,635
695,424
561,342
Sweden – 5.3%
AarhusKarlshamn AB
AF AB Class B
Atrium Ljungberg AB Class B
Axis Communications AB
B&B Tools AB Class B
Bilia AB Class A
BillerudKorsnas AB
BioGaia AB Class B
Byggmax Group AB
Clas Ohlson AB Class B
Concentric AB
Duni AB
Fabege AB
Gunnebo AB
Hexpol AB
Holmen AB Class B
Indutrade AB
Intrum Justitia AB
JM AB
Kungsleden AB
Loomis AB Class B
Mekonomen AB
NCC AB Class B
New Wave Group AB Class B
Nibe Industrier AB Class B
Nobia AB
See Notes to Financial Statements.
98 WisdomTree International Dividend and Sector Funds
Value
$
758,117
599,893
720,748
372,128
2,891,845
1,726,834
948,988
727,796
92,879
1,177,537
892,163
3,031,339
549,123
1,257,302
35,570,984
590,617
2,746,496
126,731
46,484
72,128
301,793
227,487
128,074
7,082
1,951,030
85,849
855,426
2,067,252
686,639
440,412
0
Total Spain
Total Portugal
Singapore – 3.9%
Boustead Singapore Ltd.
Chip Eng Seng Corp., Ltd.
CitySpring Infrastructure Trust
Cosco Corp. Singapore Ltd.
CSE Global Ltd.
Dyna-Mac Holdings Ltd.
Fragrance Group Ltd.
Global Premium Hotels Ltd.
Goodpack Ltd.
GuocoLand Ltd.
Ho Bee Land Ltd.
Hotel Properties Ltd.
Hyflux Ltd.
K1 Ventures Ltd.
K-Green Trust
Low Keng Huat (Singapore) Ltd.
OSIM International Ltd.
Oxley Holdings Ltd.
Pan-United Corp., Ltd.
Petra Foods Ltd.
QAF Ltd.
Investments
495,576
858,684
1,101,468
627,127
3,331,839
3,054,911
490,334
1,918,601
1,211,221
25,133,020
Total Norway
Portugal – 1.3%
Mota-Engil, SGPS, S.A.
Semapa – Sociedade de Investimento e Gestao,
SGPS, S.A.
Sonae
Sonaecom, SGPS, S.A.
ZON OPTIMUS, SGPS, S.A.
Value
8,833,104
16,941
30,615
130,862
52,810
32,853
42,613
180,978
20,634
99,928
86,939
44,158
84,067
220,090
89,127
14,433
77,998
30,234
69,507
99,751
119,613
61,151
32,739
114,511
72,521
47,941
61,782
1,110,491
1,133,268
1,985,066
1,804,983
602,989
1,363,789
2,498,250
676,285
782,187
1,837,056
612,970
1,102,127
2,865,035
526,496
1,269,987
2,857,158
1,440,924
1,893,243
3,267,826
987,005
1,570,381
901,344
4,136,388
511,172
1,231,143
545,537
Schedule of Investments (continued)
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
Shares
Nolato AB Class B
Peab AB
Ratos AB Class B
Wihlborgs Fastigheter AB
42,445
320,737
403,752
104,639
Total Sweden
Switzerland – 2.7%
Ascom Holding AG*
Basilea Pharmaceutica AG*
EFG International AG*
Georg Fischer AG*
Implenia AG*
Kudelski S.A.
Logitech International S.A.
Mobilezone Holding AG
Nobel Biocare Holding AG*
Swissquote Group Holding S.A.
Tecan Group AG
Temenos Group AG*
Valiant Holding AG
Vontobel Holding AG
Zehnder Group AG
Value
Investments
1,067,091
2,262,728
3,736,397
2,033,533
Devro PLC
Diploma PLC
Domino Printing Sciences PLC
Domino’s Pizza Group PLC
E2V Technologies PLC
Electrocomponents PLC
Elementis PLC
EMIS Group PLC
Euromoney Institutional Investor PLC
F&C Asset Management PLC
Fenner PLC
Ferrexpo PLC
Fidessa Group PLC
Galliford Try PLC
Genus PLC
Go-Ahead Group PLC
Greggs PLC
Halfords Group PLC
Hays PLC
Helical Bar PLC
Hill & Smith Holdings PLC
Hilton Food Group PLC
Home Retail Group PLC
Homeserve PLC
Hunting PLC
Huntsworth PLC
Interserve PLC
ITE Group PLC
J D Wetherspoon PLC
James Fisher & Sons PLC
James Halstead PLC
John Menzies PLC
Kcom Group PLC
Keller Group PLC
Kier Group PLC
Laird PLC
Lookers PLC
Low & Bonar PLC
Marshalls PLC
Marston’s PLC
Michael Page International PLC
Micro Focus International PLC
Mitie Group PLC
Moneysupermarket.com Group PLC
Morgan Advanced Materials PLC
Morgan Sindall Group PLC
N. Brown Group PLC
National Express Group PLC
NCC Group PLC
NMC Health PLC
Northgate PLC
Novae Group PLC
Pace PLC
Photo-Me International PLC
48,612,849
40,327
18,718
37,389
3,356
14,133
28,502
627,036
84,714
58,931
12,842
5,577
25,658
9,549
70,798
13,646
Total Switzerland
United Kingdom – 16.9%
A.G. BARR PLC
Abcam PLC
African Barrick Gold PLC
Alent PLC
Bank of Georgia Holdings PLC
BBA Aviation PLC
Berendsen PLC
Betfair Group PLC
Bodycote PLC
Bovis Homes Group PLC
Brammer PLC
Brewin Dolphin Holdings PLC
Britvic PLC
Cable & Wireless Communications PLC
Carillion PLC
Carphone Warehouse Group PLC
Chemring Group PLC
Chesnara PLC
Chime Communications PLC
Cineworld Group PLC
Computacenter PLC
Costain Group PLC
Cranswick PLC
CSR PLC
Dairy Crest Group PLC
Darty PLC
De La Rue PLC
Debenhams PLC
Dechra Pharmaceuticals PLC
Development Securities PLC
$
828,590
2,138,050
486,753
2,604,334
1,057,555
413,002
9,369,871
938,869
847,256
530,631
669,227
903,338
961,548
2,801,144
599,383
25,149,551
70,943
97,524
1,012,621
119,944
38,852
409,743
147,411
42,001
114,356
49,019
101,405
262,841
246,090
5,346,400
756,869
283,069
183,213
258,666
97,206
182,974
141,622
144,869
40,447
77,282
174,765
490,624
111,191
1,571,275
48,564
156,847
721,463
632,464
4,448,384
633,888
1,614,769
2,266,536
2,747,555
774,443
1,538,534
731,821
827,536
1,481,101
3,044,196
4,688,370
4,562,720
1,533,263
794,153
1,323,892
554,235
947,928
1,554,752
700,403
824,684
934,739
1,409,015
961,084
1,509,856
2,094,331
540,836
611,881
Shares
136,208
89,029
100,275
101,105
253,139
593,716
277,671
37,370
79,543
634,164
164,891
558,626
22,904
76,932
22,028
64,805
152,310
403,163
1,323,109
132,832
109,682
89,646
699,901
329,979
68,925
527,036
141,297
188,283
74,317
30,944
122,401
67,664
976,180
43,729
73,387
428,125
293,912
9,839
295,046
852,391
215,391
151,349
400,083
590,290
272,252
63,318
233,851
580,515
206,298
70,686
9,928
97,282
117,338
397,798
Value
$
535,907
1,064,947
1,314,819
929,593
658,352
2,801,173
1,326,264
403,713
1,588,669
1,289,841
1,095,744
1,439,811
968,738
1,701,973
363,567
2,012,779
1,283,584
3,103,911
3,198,441
827,673
993,824
753,992
2,527,376
1,732,892
989,935
595,284
1,719,612
599,541
1,061,183
754,737
588,460
738,880
1,614,419
782,976
2,023,622
2,143,387
733,768
13,902
870,638
2,046,332
1,762,410
2,095,530
2,171,080
1,841,255
1,625,362
806,483
2,228,077
2,710,824
644,868
594,524
86,068
940,665
881,464
900,279
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 99
Schedule of Investments (concluded)
WisdomTree International SmallCap Dividend Fund (DLS)
March 31, 2014
Investments
Polar Capital Holdings PLC
Premier Farnell PLC
QinetiQ Group PLC
Rank Group PLC
Renishaw PLC
Restaurant Group PLC
Ricardo PLC
RPC Group PLC
RPS Group PLC
Safestore Holdings PLC
Savills PLC
Senior PLC
Shanks Group PLC
SIG PLC
Smiths News PLC
Spirent Communications PLC
Spirit Pub Co. PLC
ST Modwen Properties PLC
St. Ives PLC
SThree PLC
Synergy Health PLC
Synthomer PLC
Ted Baker PLC
Telecom Plus PLC
TT electronics PLC
Tullett Prebon PLC
Ultra Electronics Holdings PLC
Unite Group PLC
UTV Media PLC
Vesuvius PLC
Vitec Group PLC (The)
WH Smith PLC
WS Atkins PLC
Shares
82,281
559,859
336,254
303,946
48,996
140,116
69,779
173,801
179,765
102,189
86,127
196,102
520,304
459,683
344,367
309,448
633,210
110,878
183,731
153,894
30,916
282,145
25,401
52,298
183,448
373,326
40,535
103,083
310,395
327,885
60,369
140,566
85,646
$
Value
Investments
Shares
666,669
2,183,150
1,266,364
801,130
1,592,832
1,665,528
755,577
1,829,786
936,847
403,764
958,441
1,005,314
960,673
1,541,151
871,214
509,963
857,721
739,401
606,488
1,026,258
711,274
1,332,111
909,620
1,559,804
654,488
1,754,519
1,209,645
745,850
1,223,829
2,380,589
614,936
2,819,166
1,986,136
INVESTMENT OF CASH COLLATERAL FOR
SECURITIES LOANED – 0.0%
United States – 0.0%
Dreyfus Institutional Preferred Money Market
Fund, 0.04%(c)
(Cost: $90,000)(d)
90,000
Total United Kingdom
156,572,218
TOTAL COMMON STOCKS
(Cost: $720,711,370)
908,027,107
EXCHANGE-TRADED FUNDS – 0.7%
United States – 0.7%
WisdomTree Europe SmallCap Dividend Fund(b)
WisdomTree Japan SmallCap Dividend Fund(b)
54,032
56,356
NET ASSETS – 100.0%
6,198,112
228,799
126,137
See Notes to Financial Statements.
100 WisdomTree International Dividend and Sector Funds
$
90,000
914,441,356
9,555,857
$923,997,213
REIT – Real Estate Investment Trust
RSP – Risparmio Italian Savings Shares
*
Non-income producing security.
†
Security is being fair valued by a valuation committee under the direction of the
Board of Trustees. The aggregate value of fair valued securities is $1,085,385, which
represents 0.1% of net assets.
(a) Security, or portion thereof, was on loan at March 31, 2014 (See Note 2).
(b) Affiliated company (See Note 7).
(c) Rate shown represents annualized 7-day yield as of March 31, 2014.
(d) At March 31, 2014, the total market value of the Fund’s securities on loan was
$84,532 and the total market value of the collateral held by the Fund was $90,000.
3,378,621
2,819,491
TOTAL EXCHANGE-TRADED FUNDS
(Cost: $6,149,191)
RIGHTS – 0.0%
Portugal – 0.0%
Mota-Engil Africa, SGPS, S.A., expiring 5/01/14*†
(Cost: $124,078)
TOTAL INVESTMENTS IN SECURITIES – 99.0%
(Cost: $727,074,639)
Cash, Foreign Currency and Other Assets in
Excess of Liabilities – 1.0%
Value
Schedule of Investments
WisdomTree Emerging Markets Equity Income Fund (DEM)
March 31, 2014
Investments
COMMON STOCKS – 99.5%
Brazil – 12.4%
AES Tiete S.A.
Autometal S.A.
Banco do Brasil S.A.
Banco Santander Brasil S.A.
BM&F Bovespa S.A.
Brasil Brokers Participacoes S.A.
Brasil Insurance Participacoes e
Administracao S.A.
Centrais Eletricas Brasileiras S.A.
Cia Energetica de Minas Gerais
Cia Siderurgica Nacional S.A.
Cia. Hering
CPFL Energia S.A.
EDP – Energias do Brasil S.A.
Eternit S.A.
Grendene S.A.
Helbor Empreendimentos S.A.
Light S.A.
Mahle-Metal Leve S.A. Industria E Comercio
MRV Engenharia e Participacoes S.A.
Multiplus S.A.
Natura Cosmeticos S.A.
Oi S.A.
Porto Seguro S.A.
Rodobens Negocios Imobiliarios S.A.
Santos Brasil Participacoes S.A.
Tim Participacoes S.A.
Tractebel Energia S.A.
Transmissora Alianca de Energia
Eletrica S.A.
UNICASA Industria de Moveis S.A.
Vale S.A.
Shares
485,729
326,644
8,262,640
6,724,700
3,349,917
775,625
3,401,072
2,330,587
83,486,901
37,460,438
16,701,337
1,753,019
1,787,489
13,631,420
8,349,770
24,905,906
5,027,436
21,295,248
3,350,323
435,151
4,297,008
2,684,919
10,145,183
3,809,688
2,098,115
4,786,173
14,206,031
4,193,489
9,202,836
1,297,399
3,326,439
22,473,251
32,167,871
1,148,100
501,800
9,399,600
9,794,339
856,162
130,882,088
Investments
Shares
China Coal Energy Co., Ltd. Class H
China Communications Construction Co.,
Ltd. Class H
China Construction Bank Corp. Class H
China Merchants Bank Co., Ltd. Class H
China Minsheng Banking Corp., Ltd. Class H
China Petroleum & Chemical Corp. Class H
China Shenhua Energy Co., Ltd. Class H
Chongqing Machinery & Electric Co., Ltd.
Class H
Chongqing Rural Commercial Bank Class H
Dalian Port PDA Co., Ltd. Class H
Datang International Power Generation Co.,
Ltd. Class H
Guangzhou Automobile Group Co., Ltd.
Class H
Guangzhou R&F Properties Co., Ltd. Class H
Hainan Meilan International Airport Co., Ltd.
Class H
Industrial & Commercial Bank of China
Class H
Jiangsu Expressway Co., Ltd. Class H
Jiangxi Copper Co., Ltd. Class H
PetroChina Co., Ltd. Class H
Shenzhen Expressway Co., Ltd. Class H
Sichuan Expressway Co., Ltd. Class H
Yanzhou Coal Mining Co., Ltd. Class H
Zhaojin Mining Industry Co., Ltd. Class H
Zhejiang Expressway Co., Ltd. Class H
Zijin Mining Group Co., Ltd. Class H
10,258,000
480,137,088
8,835,346
21,729,982
19,496,990
1,231,754
3,799,215
739,815
6,375,406
2,417,520
64,626,028
62,670,000
1,893,057
180,498,639
616,000
5,264,000
9,376,000
22,792,499
27,307,366
973,733
80,045,290
342,264
1,934,034
4,834,828
13,134,177
5,778,931
15,106,336
172,257,712
16,817,573
9,817,334
57,542,670
21,052,746
16,030,000
19,479,885
4,794,000
2,128,502
8,538,247
1,075,352
5,800,350
2,116,138
4,176,000
8,329,558
4,387,544
12,005,138
443,000
417,469
200,231,275
978,906
3,257,000
38,612,000
3,392,000
5,300,000
1,960,000
6,084,500
13,088,398
23,938,000
123,127,114
1,115,570
5,475,185
42,061,273
1,534,852
1,448,489
1,483,193
3,631,694
11,929,145
5,091,846
654,511,745
Czech Republic – 2.3%
CEZ AS
Komercni Banka AS
Telefonica Czech Republic AS
1,799,487
95,366
997,260
Total Czech Republic
14,313,806
173,443,049
334,510,042
33,969,781
312,165
2,078,805
3,947,465
179,932
Value
$
21,660,000
246,079,500
9,278,432
9,788,374
64,317,200
7,290,500
Total China
Total Chile
China – 16.8%
Agricultural Bank of China Ltd. Class H
Anhui Expressway Co., Ltd Class H
Bank of China Ltd. Class H
Baoye Group Co., Ltd. Class H
Beijing Capital Land Ltd. Class H
China BlueChemical Ltd. Class H
China CITIC Bank Corp., Ltd. Class H
$
353,503
4,660,500
1,200,080
5,711,400
414,332
2,583,480
733,981
117,595
624,755
764,000
1,220,939
361,200
585,216
432,000
840,921
2,929,600
652,000
248,100
448,126
4,279,400
2,068,000
Total Brazil
Chile – 1.7%
Aguas Andinas S.A. Class A
Banco de Chile
Banco Santander Chile
Empresas Iansa S.A.
ENTEL Chile S.A.
Grupo Security S.A.
Inversiones Aguas Metropolitanas S.A.
Inversiones La Construccion S.A.
Value
Hungary – 0.0%
Magyar Telekom Telecommunications PLC
Indonesia – 2.0%
PT Aneka Tambang Persero Tbk
PT Astra Agro Lestari Tbk
PT Bank Pembangunan Daerah Jawa Barat
Dan Banten Tbk
PT Bank Pembangunan Daerah Jawa
Timur Tbk
PT Berau Coal Energy Tbk*
PT Harum Energy Tbk
PT Hexindo Adiperkasa Tbk
PT Indika Energy Tbk
PT Indo Tambangraya Megah Tbk
PT Matahari Putra Prima Tbk
PT Perusahaan Gas Negara Persero Tbk
PT Semen Indonesia Persero Tbk
51,624,312
22,807,095
14,981,284
89,412,691
424,258
576,317
18,868,363
2,047,381
1,885,175
4,685,907
15,637,500
1,438,485
16,249,500
39,015,000
11,281,500
2,259,500
12,462,941
6,102,500
12,839,000
43,335,108
9,723,785
679,446
573,548
2,169,901
781,676
641,798
13,080,623
3,034,570
19,550,390
13,524,278
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 101
Schedule of Investments (continued)
WisdomTree Emerging Markets Equity Income Fund (DEM)
March 31, 2014
Investments
PT Tambang Batubara Bukit Asam Tbk
PT United Tractors Tbk
Shares
6,490,000
6,097,500
Value
$
5,327,399
11,137,599
Total Indonesia
Malaysia – 4.6%
Batu Kawan Bhd
Boustead Holdings Bhd
British American Tobacco Malaysia Bhd
Carlsberg Brewery Malaysia Bhd
DiGi.Com Bhd
Gas Malaysia Bhd
Guinness Anchor Bhd
HAP Seng Consolidated Bhd
JCY International Bhd
Lafarge Malaysia Bhd
Malayan Banking Bhd
Maxis Bhd
Media Prima Bhd
OSK Holdings Bhd
Padini Holdings Bhd
Parkson Holdings Bhd
Pos Malaysia Bhd
Star Publications Malaysia Bhd
Telekom Malaysia Bhd
United Plantations Bhd
78,510,795
710,141
2,041,411
10,679,746
4,581,672
20,907,930
416,599
223,460
10,654,690
2,763,126
6,652,939
59,974,870
39,664,779
4,889,064
541,376
361,411
2,092,696
369,710
1,228,292
10,865,882
431,293
180,051,087
12,243,206
321,088
409,404
516,308
10,156,032
11,914,158
24,923,022
4,720,399
Total Philippines
Poland – 6.2%
Asseco Poland S.A.
Bank Pekao S.A.
KGHM Polska Miedz S.A.
Orange Polska S.A.
PGE S.A.
Powszechna Kasa Oszczednosci Bank
Polski S.A.
Powszechny Zaklad Ubezpieczen S.A.
Synthos S.A.
Tauron Polska Energia S.A.
TVN S.A.
Warsaw Stock Exchange
51,713,611
183,804
484,609
1,645,176
10,153,684
7,932,418
2,856,159
31,533,107
59,296,904
34,782,098
49,620,275
1,559,958
165,771
4,530,609
3,356,563
393,980
278,164
21,932,553
23,564,786
7,317,592
5,832,381
2,161,974
3,618,139
Total Poland
Russia – 18.6%
Gazprom OAO ADR
Lukoil OAO ADR
MegaFon OAO GDR
MMC Norilsk Nickel OJSC ADR
Mobile Telesystems OJSC ADR
Phosagro OAO Reg S GDR
Rosneft Oil Co. Reg S GDR
Tatneft ADR
Uralkali OJSC Reg S GDR
Shares
Value
25,023,159
707,147
988,883
$ 166,629,216
24,226,856
23,466,194
Total Russia
117,714
1,229,931
589,897
1,149,113
12,666,947
365,700
51,826
11,559,100
12,445,500
2,403,227
20,232,225
18,609,962
6,764,931
1,058,600
617,900
2,277,900
253,100
1,692,400
6,024,200
56,111
Total Malaysia
Philippines – 1.3%
Aboitiz Power Corp.
Globe Telecom, Inc.
Philippine Long Distance Telephone Co.
Semirara Mining Corp.
Investments
242,515,968
27,434,558
1,729,992
1,654,102
6,211,522
2,149,007
1,078,244
211,254,755
96,171,924
46,562,971
103,297,611
37,586,132
12,022,421
South Africa – 9.5%
African Bank Investments Ltd.(a)
Barclays Africa Group Ltd.
Cashbuild Ltd.
Coronation Fund Managers Ltd.
DRDGOLD Ltd.
FirstRand Ltd.
Foschini Group Ltd. (The)
Kumba Iron Ore Ltd.
Lewis Group Ltd.
Liberty Holdings Ltd.
MMI Holdings Ltd.
MTN Group Ltd.
Nampak Ltd.
Nedbank Group Ltd.
PPC Ltd.
Resilient Property Income Fund Ltd.
Reunert Ltd.
Sasol Ltd.
Spar Group Ltd. (The)
Standard Bank Group Ltd.
Truworths International Ltd.
Vodacom Group Ltd.
3,651,689
1,011,635
63,515
545,335
722,020
7,918,656
537,972
853,573
540,830
394,830
3,532,487
3,666,766
1,253,856
845,164
1,633,946
400,043
689,377
1,091,559
351,789
2,448,512
821,083
4,471,736
Total South Africa
South Korea – 2.2%
Daishin Securities Co., Ltd.
Dongkuk Steel Mill Co., Ltd.
Hanmi Semiconductor Co., Ltd.
Hite Jinro Co., Ltd.
Hyundai Marine & Fire Insurance Co., Ltd.
KT Corp. ADR
KT Corp.
KT&G Corp.
Meritz Fire & Marine Insurance Co., Ltd.
Meritz Securities Co., Ltd.
Moorim P&P Co., Ltd.
OCI Materials Co., Ltd.
SK Telecom Co., Ltd. ADR
SK Telecom Co., Ltd.
Taiwan – 14.0%
Ability Enterprise Co., Ltd.
Accton Technology Corp.
Alpha Networks, Inc.
Altek Corp.
AmTRAN Technology Co., Ltd.
Asia Cement Corp.
Asustek Computer, Inc.
AV Tech Corp.
3,732,271
14,331,151
821,270
5,132,979
271,841
27,178,760
5,480,533
30,676,332
2,982,358
4,667,958
8,262,028
75,145,363
4,285,658
18,002,695
4,542,407
2,161,881
4,227,537
61,186,210
4,064,442
32,311,913
6,030,544
55,265,877
370,762,008
152,950
464,500
44,330
112,075
105,680
867,924
184,610
240,367
117,450
286,270
74,470
77,740
315,655
116,944
Total South Korea
See Notes to Financial Statements.
102 WisdomTree International Dividend and Sector Funds
721,218,080
1,283,145
5,432,876
547,644
2,474,294
3,047,937
12,055,464
5,124,924
18,065,067
1,638,529
613,176
355,402
2,694,919
7,124,333
23,675,543
84,133,253
1,181,000
1,712,000
2,436,000
625,000
4,319,896
8,780,979
1,373,000
160,000
754,304
955,718
2,075,830
699,861
2,759,116
10,957,301
13,593,613
441,343
Schedule of Investments (continued)
WisdomTree Emerging Markets Equity Income Fund (DEM)
March 31, 2014
Investments
Cheng Uei Precision Industry Co., Ltd.
Chia Chang Co., Ltd.
Chicony Electronics Co., Ltd.
Chimei Materials Technology Corp.
China Petrochemical Development Corp.
China Steel Chemical Corp.
China Steel Corp.
China Synthetic Rubber Corp.
Chin-Poon Industrial Co., Ltd.
Chung Hsin Electric & Machinery
Manufacturing Corp.
Chunghwa Telecom Co., Ltd.
Cleanaway Co., Ltd.
Compal Electronics, Inc.
Compeq Manufacturing Co., Ltd.
Coxon Precise Industrial Co., Ltd.
CSBC Corp. (Taiwan)
CTCI Corp.
Cyberlink Corp.
CyberTAN Technology, Inc.
D-Link Corp.
E-LIFE MALL Co., Ltd.
Elite Material Co., Ltd.
Eternal Chemical Co., Ltd.
Everlight Electronics Co., Ltd.
Far Eastern New Century Corp.
Farglory Land Development Co., Ltd.
Feng Hsin Iron & Steel Co.
Flytech Technology Co., Ltd.
Forhouse Corp.
Formosa Chemicals & Fibre Corp.
Formosa Plastics Corp.
Formosan Rubber Group, Inc.
Getac Technology Corp.
Grand Pacific Petrochemical Corp.
Great China Metal Industry
Great Wall Enterprise Co., Ltd.
Hannstar Board Corp.
Holtek Semiconductor, Inc.
Holy Stone Enterprise Co., Ltd.
HTC Corp.
Huaku Development Co., Ltd.
Huang Hsiang Construction Co.
Hung Poo Real Estate Development Corp.
ITEQ Corp.
Jentech Precision Industrial Co., Ltd.
Kee Tai Properties Co., Ltd.
LCY Chemical Corp.
Lealea Enterprise Co., Ltd.
Lingsen Precision Industries Ltd.
Lite-On Technology Corp.
Lotes Co., Ltd.
Lumax International Corp., Ltd.
Makalot Industrial Co., Ltd.
Shares
1,067,000
392,000
2,483,987
2,166,511
14,570,000
1,179,000
19,678,407
2,750,043
1,635,000
677,000
18,610,113
304,736
14,346,000
2,195,000
276,000
1,017,000
983,000
1,181,158
938,000
4,145,000
528,542
126,838
4,319,000
493,000
12,763,414
3,191,161
3,121,922
169,855
1,485,000
12,748,045
13,455,090
2,403,000
1,181,000
3,406,000
1,029,627
1,453,000
2,751,000
395,000
347,200
5,411,000
1,432,573
398,000
725,000
2,835,100
398,000
4,629,000
2,752,000
1,177,000
1,184,000
5,847,349
392,000
232,000
757,000
Value
$
2,259,962
467,272
6,443,969
2,493,595
6,028,471
6,736,590
16,575,031
2,564,690
2,974,436
471,305
57,261,886
1,861,289
10,175,637
1,304,638
489,418
634,529
1,473,572
3,591,667
994,907
2,946,860
1,107,330
115,374
4,510,112
1,249,802
13,558,704
5,438,675
5,248,909
697,213
619,309
30,810,479
33,668,101
2,351,511
661,228
2,069,157
1,315,245
1,436,181
1,007,262
808,095
503,940
27,186,044
3,509,398
678,309
667,802
3,202,609
1,568,344
3,252,955
3,208,144
421,289
812,597
8,717,499
1,370,922
585,095
4,201,067
Investments
Shares
Mega Financial Holding Co., Ltd.
Nan Ya Plastics Corp.
OptoTech Corp.
Oriental Union Chemical Corp.
Pou Chen Corp.
Powertech Technology, Inc.
Quanta Computer, Inc.
Radiant Opto-Electronics Corp.
Radium Life Tech Co., Ltd.
Rechi Precision Co., Ltd.
Senao International Co., Ltd.
Sercomm Corp.
Shih Wei Navigation Co., Ltd.
Sigurd Microelectronics Corp.
Siliconware Precision Industries Co.
Silitech Technology Corp.
Sincere Navigation Corp.
Sonix Technology Co., Ltd.
Syncmold Enterprise Corp.
Synnex Technology International Corp.
TA Chen Stainless Pipe Co., Ltd*
Taiflex Scientific Co., Ltd.
Taiwan Cement Corp.
Taiwan Cogeneration Corp.
Taiwan Hon Chuan Enterprise Co., Ltd.
Taiwan Mobile Co., Ltd.
Taiwan Secom Co., Ltd.
Topco Scientific Co., Ltd.
Transcend Information, Inc.
Tripod Technology Corp.
TSRC Corp.
Tung Ho Steel Enterprise Corp.
U-Ming Marine Transport Corp.
Unimicron Technology Corp.
Unitech Printed Circuit Board Corp.*
United Integrated Services Co., Ltd.
United Microelectronics Corp.
USI Corp.
Visual Photonics Epitaxy Co., Ltd.
Wah Lee Industrial Corp.
Wistron Corp.
WPG Holdings Co., Ltd.
WT Microelectronics Co., Ltd.
YFY, Inc.
Young Optics, Inc.
YungShin Global Holding Corp.
Zinwell Corp.
14,579,071
12,665,616
774,000
3,517,000
5,898,112
1,134,703
10,887,990
1,326,170
3,274,294
397,780
508,000
617,000
2,519,000
3,264,627
6,221,000
953,230
779,000
640,000
1,284,324
6,685,000
1,073,000
392,254
8,825,485
825,000
1,803,723
7,427,253
397,930
284,550
1,035,000
680,000
3,338,208
3,170,387
890,048
1,338,000
3,119,000
1,143,000
27,254,598
5,746,000
398,000
340,000
7,917,890
5,162,000
395,037
4,551,000
248,000
345,000
273,000
Total Taiwan
Value
$
11,298,451
26,826,442
404,124
3,441,642
8,318,657
1,715,888
29,318,289
5,356,503
2,822,436
429,097
1,399,596
1,416,248
1,704,011
3,173,236
8,273,557
1,103,402
716,263
1,113,866
2,222,605
10,756,588
512,672
743,225
13,621,141
513,382
3,909,226
23,267,710
1,020,551
555,037
3,364,748
1,337,559
4,987,717
2,691,224
1,505,212
1,076,463
1,259,788
1,435,670
11,500,586
3,717,140
382,284
681,061
6,513,197
6,229,489
506,566
2,062,353
518,762
618,570
320,043
543,207,788
Thailand – 5.5%
Advanced Info Service PCL
Bangchak Petroleum PCL
Banpu PCL NVDR
BTS Group Holdings PCL NVDR
Charoen Pokphand Foods PCL NVDR
5,594,461
4,534,721
10,770,280
29,126,443
15,024,110
38,974,975
4,368,373
9,296,173
7,541,989
12,967,789
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 103
Schedule of Investments (concluded)
WisdomTree Emerging Markets Equity Income Fund (DEM)
March 31, 2014
Investments
Delta Electronics Thailand PCL NVDR
Dynasty Ceramic PCL NVDR
Electricity Generating PCL
Kiatnakin Bank PCL
Land and Houses PCL NVDR
MCOT PCL NVDR
PTT Global Chemical PCL NVDR
PTT PCL NVDR
Ratchaburi Electricity Generating Holding PCL
Sansiri PCL NVDR
Shin Corp. PCL NVDR
Thai Oil PCL NVDR
Thai Tap Water Supply PCL NVDR
Thai Vegetable Oil PCL NVDR
Tisco Financial Group PCL
Total Access Communication PCL NVDR
Shares
3,332,083
868,411
938,100
2,235,124
20,031,618
834,016
9,705,105
4,805,294
3,332,796
10,967,139
5,998,821
4,632,177
6,143,277
3,348,970
2,858,189
5,426,809
Total Thailand
Turkey – 2.4%
Adana Cimento Sanayii TAS Class A
Akcansa Cimento A.S.
Aksa Akrilik Kimya Sanayii*
Aksigorta A.S.
Arcelik A.S.
Brisa Bridgestone Sabanci Sanayi ve
Ticaret A.S.
Celebi Hava Servisi A.S.
Cimsa Cimento Sanayi VE Tica
Dogus Otomotiv Servis VE Ticaret A.S.
Netas Telekomunikasyon A.S.
Sinpas Gayrimenkul Yatirim Ortakligi A.S.
Tekfen Holding A.S.
Tofas Turk Otomobil Fabrikasi A.S.
Tupras Turkiye Petrol Rafinerileri A.S.
Turk Telekomunikasyon A.S.
Turk Traktor ve Ziraat Makineleri A.S.
Value
$
6,060,200
1,405,412
3,788,258
2,928,260
5,927,976
752,003
21,615,100
44,290,472
5,316,652
638,961
14,285,109
7,567,983
1,836,923
2,343,453
3,590,358
19,489,003
214,985,422
228,409
268,832
356,890
283,109
1,251,190
412,144
1,388,647
1,137,804
383,796
6,989,398
544,285
101,470
476,287
968,779
457,477
892,548
984,660
1,704,533
883,345
14,406,363
129,220
1,371,399
770,796
2,482,517
3,573,142
1,144,120
304,581
2,246,233
9,681,225
18,705,838
40,070,054
3,322,317
Total Turkey
93,984,011
TOTAL COMMON STOCKS
(Cost: $3,941,161,048)
3,870,345,892
WARRANTS – 0.0%
Thailand – 0.0%
BTS Group Holdings PCL expiring 11/01/18*
(Cost: $0)
12,024,714
326,194
INVESTMENT OF CASH COLLATERAL FOR
SECURITIES LOANED – 0.1%
United States – 0.1%
Dreyfus Institutional Preferred Money Market
Fund, 0.04%(b)
(Cost: $2,286,181)(c)
2,286,181
2,286,181
TOTAL INVESTMENTS IN SECURITIES – 99.6%
(Cost: $3,943,447,229)
Cash, Foreign Currency and Other Assets in
Excess of Liabilities – 0.4%
NET ASSETS – 100.0%
ADR – American Depositary Receipt
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
(a) Security, or portion thereof, was on loan at March 31, 2014 (See Note 2).
(b) Rate shown represents annualized 7-day yield as of March 31, 2014.
(c) At March 31, 2014, the total market value of the Fund’s securities on loan was
$2,079,082 and the total market value of the collateral held by the Fund was
$2,286,181.
3,872,958,267
15,895,938
$3,888,854,205
See Notes to Financial Statements.
104 WisdomTree International Dividend and Sector Funds
Schedule of Investments
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
March 31, 2014
Investments
COMMON STOCKS – 98.3%
Brazil – 7.6%
Abril Educacao S.A.*
AES Tiete S.A.
Aliansce Shopping Centers S.A.
Arezzo & Co.
Autometal S.A.
Brasil Brokers Participacoes S.A.
Brasil Insurance Participacoes e
Administracao S.A.
Cia de Locacao das Americas
Cia Paranaense de Energia
Diagnosticos da America S.A.
Direcional Engenharia S.A.
Equatorial Energia S.A.
Estacio Participacoes S.A.
Eternit S.A.
Even Construtora e Incorporadora S.A.
Fleury S.A.
Grendene S.A.
Helbor Empreendimentos S.A.
Iochpe-Maxion S.A.
JHSF Participacoes S.A.
Light S.A.
Lojas Americanas S.A.
LPS Brasil Consultoria de Imoveis S.A.
Magnesita Refratarios S.A.
Mahle-Metal Leve S.A. Industria e Comercio
Marisa Lojas S.A.
Mills Estruturas e Servicos de
Engenharia S.A.
MRV Engenharia e Participacoes S.A.
Oi S.A.
Rodobens Negocios Imobiliarios S.A.
Santos Brasil Participacoes S.A.
Sao Martinho S.A.
SLC Agricola S.A.
Sonae Sierra Brasil S.A.
Sul America S.A.
Technos S.A.
Tegma Gestao Logistica
TPI – Triunfo Participacoes e
Investimentos S.A.
UNICASA Industria de Moveis S.A.
Valid Solucoes e Servicos de Seguranca em
Meios de Pagamento e Identificacao S.A.
Shares
26,260
1,588,400
353,003
87,633
422,309
1,282,850
$
323,522
11,121,968
2,795,552
1,067,985
3,013,151
2,899,417
621,998
122,700
237,800
382,312
428,569
416,007
119,724
571,996
681,960
343,000
1,579,260
1,124,660
132,925
1,714,370
1,950,700
227,009
464,734
463,200
659,900
417,232
3,145,135
187,598
2,296,327
2,566,819
1,901,164
3,770,150
1,212,892
2,116,626
2,296,874
2,930,662
10,862,005
3,952,384
1,325,421
3,023,795
16,209,007
1,432,576
2,656,800
1,030,474
6,960,168
2,847,495
64,670
1,717,833
6,482,800
231,600
616,480
186,945
121,934
262,773
886,831
147,123
261,800
802,464
6,158,772
9,279,612
1,211,114
4,576,131
2,568,267
950,507
2,196,277
5,954,128
977,995
2,214,829
391,344
562,400
1,465,480
959,557
255,995
3,970,674
Total Brazil
Chile – 3.4%
Besalco S.A.
CFR Pharmaceuticals S.A.
E-CL S.A.
Empresas Hites S.A.
Forus S.A.
Gasco S.A.
Value
137,231,774
1,068,098
20,239,922
3,767,820
1,082,928
599,012
274,788
1,020,021
4,046,220
5,044,216
646,839
2,650,601
2,893,871
Investments
Shares
Grupo Security S.A.
Inversiones Aguas Metropolitanas S.A.
Inversiones La Construccion S.A.
Masisa S.A.
Parque Arauco S.A.
Ripley Corp. S.A.
Sigdo Koppers S.A.
Sociedad Matriz SAAM S.A.
Sonda S.A.
Vina Concha y Toro S.A.
5,758,518
6,548,392
511,758
29,325,516
3,309,479
4,494,228
3,454,164
20,011,791
1,430,294
2,312,802
Total Chile
Value
$
2,049,369
10,576,068
6,875,848
1,593,164
6,292,781
2,796,387
5,745,023
1,718,702
3,453,285
4,744,952
62,147,347
China – 5.8%
Anhui Expressway Co., Ltd. Class H
AviChina Industry & Technology Co., Ltd.
Class H
Baoye Group Co., Ltd. Class H
BBMG Corp. Class H
Beijing Capital Land Ltd. Class H
China Datang Corp. Renewable Power Co.,
Ltd. Class H
China Railway Construction Corp., Ltd.
Class H
China Railway Group Ltd. Class H
China Southern Airlines Co., Ltd. Class H
China Suntien Green Energy Corp., Ltd.
Class H
Chongqing Machinery & Electric Co., Ltd.
Class H
CSR Corp., Ltd. Class H
Dalian Port PDA Co., Ltd. Class H
Datang International Power Generation Co.,
Ltd. Class H
Dongfang Electric Corp., Ltd. Class H
Guangshen Railway Co., Ltd. Class H
Guangzhou Automobile Group Co., Ltd.
Class H
Hainan Meilan International Airport Co., Ltd.
Class H
Harbin Electric Co., Ltd. Class H
Jiangsu Expressway Co., Ltd. Class H
Shanghai Electric Group Co., Ltd. Class H
Shanghai Jin Jiang International Hotels Group
Co., Ltd. Class H
Shanghai Pharmaceuticals Holding Co., Ltd.
Class H
Shenzhen Expressway Co., Ltd. Class H
Sichuan Expressway Co., Ltd. Class H
Sinotrans Ltd. Class H
Tong Ren Tang Technologies Co., Ltd. Class H
Travelsky Technology Ltd. Class H
Weichai Power Co., Ltd. Class H
Weiqiao Textile Co., Ltd. Class H
Yanzhou Coal Mining Co., Ltd. Class H
Zijin Mining Group Co., Ltd. Class H
1,431,666
736,407
1,929,271
934,000
358,169
20,302,421
1,074,436
518,953
278,887
7,459,266
14,200,403
2,251,693
2,188,098
6,947,801
4,936,000
1,850,436
3,233,389
1,603,537
7,495,039
2,483,193
5,976,855
4,437,139
6,990,507
793,621
3,729,529
1,568,055
14,537,049
449,381
4,620,665
5,303,543
699,818
1,953,807
8,346,000
8,768,785
857,289
3,184,071
7,003,933
6,852,000
807,882
1,801,983
7,981,742
2,429,145
18,187,587
4,618,966
1,130,300
6,369,697
234,768
7,427,000
760,944
7,500,788
297,769
2,474,000
13,408,000
38,612,000
2,570,370
2,882,234
64,162
3,734,061
2,442,618
6,652,712
1,126,655
1,365,045
10,146,249
8,213,148
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 105
Schedule of Investments (continued)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
March 31, 2014
Investments
Zoomlion Heavy Industry Science and
Technology Co., Ltd. Class H
Shares
5,551,600
Total China
Hungary – 0.1%
Magyar Telekom Telecommunications PLC
Indonesia – 4.0%
PT AKR Corporindo Tbk
PT Alam Sutera Realty Tbk
PT Aneka Tambang Persero Tbk
PT Bank Bukopin Tbk
PT Bank Pembangunan Daerah Jawa Barat
Dan Banten Tbk
PT Bank Pembangunan Daerah Jawa Timur
Tbk
PT Bank Tabungan Negara Persero Tbk
PT Berau Coal Energy Tbk*
PT Bumi Resources Tbk*
PT Ciputra Development Tbk
PT Harum Energy Tbk
PT Hexindo Adiperkasa Tbk
PT Holcim Indonesia Tbk
PT Indika Energy Tbk
PT Japfa Comfeed Indonesia Tbk
PT Krakatau Steel Persero Tbk*
PT Matahari Putra Prima Tbk
PT MNC Investama Tbk
PT Pembangunan Perumahan Persero Tbk
PT Perusahaan Perkebunan London Sumatra
Indonesia Tbk
PT Ramayana Lestari Sentosa Tbk
PT Salim Ivomas Pratama Tbk
PT Sampoerna Agro
PT Summarecon Agung Tbk
PT Timah Persero Tbk
PT Wijaya Karya Persero Tbk
Value
$
3,864,696
105,009,023
1,242,174
1,687,384
11,960,645
13,815,877
33,100,974
29,927,518
5,090,644
723,631
3,307,184
1,686,058
66,185,612
6,088,377
93,004,000
34,179,016
87,866,893
42,146,500
22,665,245
17,983,963
2,654,000
16,435,216
26,807,639
11,913,491
32,297,299
32,334,500
33,672,198
12,325,370
3,888,812
3,866,200
1,291,705
998,011
2,314,409
3,459,063
918,153
3,993,063
1,380,499
1,478,699
1,464,182
7,642,441
1,016,687
1,985,513
23,732,252
27,089,328
31,284,500
5,250,000
30,963,972
22,121,900
5,260,752
4,616,926
3,314,627
2,519,834
986,686
2,902,873
3,797,333
1,106,796
Total Indonesia
Malaysia – 9.3%
Aeon Co. M Bhd
Affin Holdings Bhd
Alliance Financial Group Bhd
Benalec Holdings Bhd
Berjaya Corp. Bhd
Berjaya Sports Toto Bhd
BIMB Holdings Bhd
Boustead Holdings Bhd
Carlsberg Brewery Malaysia Bhd
Dialog Group Bhd
DRB-Hicom Bhd
Dutch Lady Milk Industries Bhd
Eastern & Oriental Bhd
Fraser & Neave Holdings Bhd
Gas Malaysia Bhd
Genting Plantations Bhd
71,838,406
850,013
6,695,695
6,975,547
854,000
12,678,132
6,764,237
4,718,528
4,752,619
1,518,613
5,990,176
6,654,261
28,000
6,318,797
314,900
1,050,000
469,600
3,743,129
7,935,183
9,420,353
235,370
2,057,697
8,223,556
6,256,692
7,888,285
6,054,920
6,585,433
5,033,234
406,259
4,102,235
1,737,712
1,196,141
1,553,110
Investments
Guinness Anchor Bhd
HAP Seng Consolidated Bhd
Hartalega Holdings Bhd
JCY International Bhd
KPJ Healthcare Bhd
Kulim Malaysia Bhd*
Lafarge Malaysia Bhd
Mah Sing Group Bhd
Malaysia Airports Holdings Bhd
Malaysia Marine and Heavy Engineering
Holdings Bhd
Malaysian Bulk Carriers Bhd
Malaysian Resources Corp. Bhd
MBM Resources Bhd
Media Prima Bhd
Mudajaya Group Bhd
Oriental Holdings Bhd
OSK Holdings Bhd
Padini Holdings Bhd
Parkson Holdings Bhd
Star Publications Malaysia Bhd
Sunway Bhd
Supermax Corp. Bhd
Syarikat Takaful Malaysia Bhd
Tan Chong Motor Holdings Bhd
Top Glove Corp. Bhd
United Plantations Bhd
UOA Development Bhd
WCT Holdings Bhd
349,853
13,168,192
1,752,572
29,634,391
2,788,941
2,790,931
4,094,400
7,125,956
4,239,061
4,625,000
893,900
5,671,443
306,400
5,964,736
1,856,665
197,741
7,526,756
3,080,696
5,059,073
4,619,400
1,095,700
1,828,267
94,700
177,800
1,600,490
148,368
3,130,680
4,952,426
Total Malaysia
Mexico – 1.1%
Alsea S.A.B de C.V.
Banregio Grupo Financiero S.A.B de C.V.
Corp. Inmobiliaria Vesta S.A.B de C.V.*
Grupo Aeroportuario del Centro Norte S.A.B
de C.V.*
Grupo Herdez S.A.B de C.V.
Qualitas Controladora S.A.B de C.V.
TV Azteca S.A.B de C.V.
Philippines – 2.3%
Atlas Consolidated Mining & Development*
Cebu Air, Inc.
First Philippine Holdings Corp.
Lopez Holdings Corp.
Manila Water Co., Inc.
Megaworld Corp.
Nickel Asia Corp.
Philex Mining Corp.
Philweb Corp.
Rizal Commercial Banking Corp.
Robinsons Land Corp.
Security Bank Corp.
Value
$
1,508,477
12,137,883
3,676,349
6,579,370
2,553,647
2,871,697
11,334,673
4,757,184
10,385,083
5,325,371
561,168
2,848,313
304,946
4,310,757
1,535,139
435,387
3,849,237
1,801,908
4,647,747
3,352,619
1,016,681
1,455,671
346,262
301,097
2,426,099
1,140,419
2,080,409
3,291,001
169,263,903
961,600
654,823
1,858,300
3,500,412
3,796,832
3,765,376
697,800
974,337
919,500
2,599,410
2,536,385
2,894,917
2,525,520
1,587,684
Total Mexico
See Notes to Financial Statements.
106 WisdomTree International Dividend and Sector Funds
Shares
20,607,126
1,708,700
260,960
945,856
15,999,212
4,762,145
43,195,046
4,045,983
3,295,900
1,944,200
1,267,784
8,318,760
1,234,704
532,671
279,029
1,529,146
1,658,966
2,537,970
4,035,840
1,784,581
633,530
221,104
1,328,707
4,062,456
2,918,466
Schedule of Investments (continued)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
March 31, 2014
Investments
Semirara Mining Corp.
Union Bank of Philippines
Vista Land & Lifescapes, Inc.
Shares
1,565,576
1,767,057
10,577,600
Total Philippines
Poland – 4.0%
Asseco Poland S.A.
Enea S.A.
Eurocash S.A.
Getin Holding S.A.
Grupa Azoty S.A.
Lubelski Wegiel Bogdanka S.A.
Synthos S.A.
Tauron Polska Energia S.A.
TVN S.A.
Warsaw Stock Exchange
Value
$
14,313,439
4,791,485
1,243,036
41,870,426
444,258
1,526,437
157,481
2,719,483
136,033
120,897
11,868,984
9,437,985
1,162,994
261,897
Total Poland
6,903,394
8,083,336
2,084,353
2,925,240
2,723,902
5,021,703
19,170,134
16,399,491
6,381,955
3,406,551
73,100,059
Russia – 0.2%
LSR Group OJSC GDR*
1,423,171
3,913,720
South Africa – 9.2%
Adcock Ingram Holdings Ltd.
Advtech Ltd.
Aeci Ltd.
African Bank Investments Ltd.(a)
African Oxygen Ltd.
AVI Ltd.
Barloworld Ltd.
Blue Label Telecoms Ltd.
Capitec Bank Holdings Ltd.
Cashbuild Ltd.
City Lodge Hotels Ltd.
Clicks Group Ltd.
Coronation Fund Managers Ltd.
DRDGOLD Ltd.
Grindrod Ltd.
Hosken Consolidated Investments Ltd.
Investec Ltd.
Invicta Holdings Ltd.
JSE Ltd.
Lewis Group Ltd.
Metair Investments Ltd.
Mondi Ltd.
Mpact Ltd.
Nampak Ltd.
Oceana Group Ltd.
Omnia Holdings Ltd.
Pick n Pay Stores Ltd.
Pick’n Pay Holdings Ltd.
Pioneer Foods Ltd.
PPC Ltd.
PSG Group Ltd.
Raubex Group Ltd.
Resilient Property Income Fund Ltd.
Reunert Ltd.
358,794
1,759,672
253,646
9,106,501
1,256,853
1,533,997
404,097
1,583,061
267,071
170,289
77,483
364,448
1,983,407
1,250,669
228,141
245,232
1,018,147
38,753
260,461
825,313
121,810
512,226
731,837
2,442,134
164,524
126,378
876,928
1,355,839
493,851
2,357,901
365,943
304,651
962,380
863,178
2,012,649
1,271,500
3,062,688
9,307,455
2,366,032
8,244,692
4,236,566
1,309,447
4,938,753
2,201,894
861,839
2,271,325
18,668,869
470,878
553,114
3,485,694
8,212,627
424,821
2,359,723
4,551,113
495,676
9,005,192
1,890,493
8,347,172
1,416,409
2,535,875
4,302,141
2,896,557
3,920,608
6,555,018
3,228,735
642,733
5,200,818
5,293,355
Investments
Shares
Santam Ltd.
Spar Group Ltd. (The)
Sun International Ltd.
Tongaat Hulett Ltd.
Trencor Ltd.
Wilson Bayly Holmes-Ovcon Ltd.
322,006
775,097
424,089
421,070
631,484
201,619
Total South Africa
South Korea – 10.5%
BS Financial Group, Inc.
Bukwang Pharmaceutical Co., Ltd.
CJ CGV Co., Ltd.
Daeduck Electronics Co.
Daeduck GDS Co., Ltd.
Daewoong Pharmaceutical Co., Ltd.
Daishin Securities Co., Ltd.
Daum Communications Corp.
DGB Financial Group, Inc.
Dongkuk Steel Mill Co., Ltd.
Dongyang Mechatronics Corp.
Doosan Corp.
Eugene Corp.
Grand Korea Leisure Co., Ltd.
Green Cross Corp.
GS Engineering & Construction Corp.*
GS Home Shopping, Inc.
Hana Tour Service, Inc.
Handsome Co., Ltd.
Hankook Tire Co., Ltd.
Hanmi Semiconductor Co., Ltd.
Hansol Paper Co., Ltd.
Hanwha Chemical Corp.
Hanwha Corp.
Hite Jinro Co., Ltd.
Hitejinro Holdings Co., Ltd.
Hotel Shilla Co., Ltd.
Huchems Fine Chemical Corp.
Huvis Corp.
Hyosung Corp.
Hyundai Development Co.-Engineering &
Construction
Hyundai Securities Co.*
iMarketKorea, Inc.
ISU Chemical Co., Ltd.
KEPCO Plant Service & Engineering Co., Ltd.
Kolon Corp.
Kolon Industries, Inc.
Korea Aerospace Industries Ltd.
Korea Investment Holdings Co., Ltd.
Korean Reinsurance Co.
LEENO Industrial, Inc.
LG Fashion Corp.
LG International Corp.
LIG Insurance Co., Ltd.
LS Corp.
Value
$
5,948,810
8,955,189
3,806,676
4,551,026
3,908,538
2,641,506
166,354,206
603,192
2,214
39,800
108,233
46,398
56,036
295,624
39,745
361,505
16,696
212,375
57,262
262,533
196,820
13,065
53,510
1,832
29,138
94,512
70,400
47,630
130,236
209,250
151,323
313,107
50,590
54,896
149,281
76,190
54,024
8,528,385
29,951
1,944,290
749,380
719,214
3,690,285
2,480,081
2,919,873
5,230,097
195,279
2,045,041
7,450,596
871,863
8,089,506
1,546,517
1,824,804
407,895
2,017,446
2,344,043
1,392,193
588,411
1,480,441
3,803,831
4,563,360
6,912,504
679,634
4,440,364
3,022,223
747,978
3,897,828
184,619
555,730
46,379
86,358
135,972
14,617
61,604
73,027
119,754
303,711
17,353
73,618
58,467
193,021
44,163
5,203,222
3,372,649
1,431,303
1,079,019
8,660,718
288,371
3,148,347
2,329,153
4,140,117
2,938,816
484,179
1,929,581
1,548,940
5,675,755
3,165,613
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 107
Schedule of Investments (continued)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
March 31, 2014
Investments
LS Industrial Systems Co., Ltd.
Mando Corp.
Meritz Fire & Marine Insurance Co., Ltd.
Meritz Securities Co., Ltd.
Mirae Asset Securities Co., Ltd.
Moorim P&P Co., Ltd.
Nexen Tire Corp.
Nongshim Co., Ltd.
OCI Materials Co., Ltd.
Partron Co., Ltd.
Poongsan Corp.
S&T Dynamics Co., Ltd.
S&T Motiv Co., Ltd.
S1 Corp.
Samsung Fine Chemicals Co., Ltd.
SFA Engineering Corp.
Shinsegae Co., Ltd.
Silicon Works Co., Ltd.
Simm Tech Co., Ltd.*
SK Chemicals Co., Ltd.
SK Networks Co., Ltd.*
SKC Co., Ltd.
Soulbrain Co., Ltd.
Sungwoo Hitech Co., Ltd.
Taeyoung Engineering & Construction Co.,
Ltd.*
Tongyang Life Insurance
Woori Investment & Securities Co., Ltd.
Youngone Corp.
Shares
29,454
22,690
497,550
1,302,920
66,389
464,488
24,570
2,065
46,098
93,929
65,787
123,723
15,060
83,643
46,554
41,609
6,937
38,619
62,874
39,387
322,803
66,663
9,243
139,938
68,235
407,650
515,697
53,559
Total South Korea
Taiwan – 27.7%
Ability Enterprise Co., Ltd.
AcBel Polytech, Inc.
Accton Technology Corp.
Advancetek Enterprise Co., Ltd.
Advantech Co., Ltd.
ALI Corp.
Alpha Networks, Inc.
Altek Corp.
Ambassador Hotel (The)
AmTRAN Technology Co., Ltd.
Apex Biotechnology Corp.
AV Tech Corp.
BES Engineering Corp.
Capital Securities Corp.
Career Technology (MFG.) Co., Ltd.
Cheng Loong Corp.
Cheng Uei Precision Industry Co., Ltd.
Chicony Electronics Co., Ltd.
Chimei Materials Technology Corp.
China Petrochemical Development Corp.
China Steel Chemical Corp.
China Synthetic Rubber Corp.
Chin-Poon Industrial Co., Ltd.
$
Value
Investments
1,859,466
2,877,683
6,941,254
2,790,791
2,575,852
2,216,731
311,612
579,081
1,598,024
1,164,792
1,575,996
1,412,217
379,878
6,993,496
2,138,654
1,717,991
1,502,164
832,642
372,123
2,327,439
2,868,821
1,938,297
333,007
2,221,760
Chroma ATE, Inc.
Chung Hsin Electric & Machinery
Manufacturing Corp.
Cleanaway Co., Ltd.
Clevo Co.
Compeq Manufacturing Co., Ltd.
Coxon Precise Industrial Co., Ltd.
CSBC Corp. (Taiwan)
CTCI Corp.
Cyberlink Corp.
CyberTAN Technology, Inc.
Darfon Electronics Corp.
Depo Auto Parts Industries Co., Ltd.
D-Link Corp.
Eclat Textile Co., Ltd.
Elan Microelectronics Corp.
E-LIFE MALL Corp.
Elite Material Co., Ltd.
Epistar Corp.*
Eternal Chemical Co., Ltd.
Evergreen International Storage & Transport
Corp.
Everlight Chemical Industrial Corp.
Everlight Electronics Co., Ltd.
Far Eastern Department Stores Co., Ltd.
Far Eastern International Bank
Farglory Land Development Co., Ltd.
Feng Hsin Iron & Steel Co.
Feng TAY Enterprise Co., Ltd.
Flexium Interconnect, Inc.
Flytech Technology Co., Ltd.
Forhouse Corp.
Formosa International Hotels Corp.
Formosan Rubber Group, Inc.
G Tech Optoelectronics Corp.
Genius Electronic Optical Co., Ltd.
Getac Technology Corp.
Giant Manufacturing Co., Ltd.
Global Mixed Mode Technology, Inc.
Global Unichip Corp.*
Goldsun Development & Construction Co.,
Ltd.
Grand Pacific Petrochemical
Grape King Bio Ltd.
Great China Metal Industry
Great Wall Enterprise Co., Ltd.
Hannstar Board Corp.
Hey Song Corp.
Hiwin Technologies Corp.
Holiday Entertainment Co., Ltd.
Holtek Semiconductor, Inc.
Holy Stone Enterprise Co., Ltd.
Huaku Development Co., Ltd.
Huang Hsiang Construction Co.
380,775
3,906,271
4,277,894
1,990,003
190,093,810
3,337,650
2,357,303
2,805,633
1,446,630
1,911,610
1,400,980
3,146,788
1,959,742
708,000
5,428,950
672,791
737,036
4,090,026
13,416,723
461,000
2,818,000
1,536,820
3,149,423
1,552,000
20,847,675
1,290,726
2,719,257
1,219,650
2,131,756
3,251,185
1,566,235
1,679,283
12,397,766
1,515,879
2,681,525
2,194,473
663,768
3,467,468
1,508,961
2,033,036
1,146,994
4,934,481
510,162
1,290,899
3,255,066
8,170,246
1,786,310
8,625,916
7,374,972
2,535,979
2,218,820
See Notes to Financial Statements.
108 WisdomTree International Dividend and Sector Funds
Shares
1,242,132
Value
$
2,961,293
3,055,882
439,161
422,000
3,229,000
297,000
4,562,830
1,934,190
743,011
1,570,000
864,908
752,646
5,361,161
274,045
1,471,156
302,440
1,155,163
1,174,245
3,789,066
2,127,402
2,682,340
834,230
1,919,215
526,656
2,846,852
2,899,459
2,259,349
1,665,249
629,101
2,928,776
3,811,481
3,167,682
2,830,958
633,632
1,050,752
2,818,728
3,956,729
3,648,361
1,406,695
1,649,165
4,338,903
11,623,833
6,223,640
2,638,950
668,000
189,224
28,564
1,968,000
132,485
5,661,122
642,000
49,000
1,930,292
827,464
303,685
346,528
2,426,051
1,263,381
4,180,791
3,825,615
4,122,400
10,606,910
4,436,885
1,956,674
562,965
117,248
820,740
1,570,547
5,539,822
819,036
145,620
1,080,748
5,624,663
1,007,214
1,008,206
1,530,621
3,237,135
771,988
1,152,694
2,425,420
2,401,000
1,086,221
428,130
676,196
1,878,773
624,309
2,332,296
1,081,448
593,098
1,966,571
3,333,599
1,472,450
2,397,345
879,112
1,175,305
4,147,389
841,567
3,843,611
906,148
5,713,465
1,843,105
Schedule of Investments (continued)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
March 31, 2014
Investments
Hung Poo Real Estate Development Corp.
IEI Integration Corp.
Inventec Corp.
ITEQ Corp.
Jentech Precision Industrial Co., Ltd.
KEE TAI Properties Co., Ltd.
Kenda Rubber Industrial Co., Ltd.
Kerry TJ Logistics Co., Ltd.
King Slide Works Co., Ltd.
King Yuan Electronics Co., Ltd.
Kingdom Construction Co., Ltd.
Kinik Co.
Kinsus Interconnect Technology Corp.
LCY Chemical Corp.
Lealea Enterprise Co., Ltd.
Lingsen Precision Industries Ltd.
Lotes Co., Ltd.
Lumax International Corp., Ltd.
Makalot Industrial Co., Ltd.
Mercuries & Associates Ltd.
Merida Industry Co., Ltd.
Merry Electronics Co., Ltd.
Micro-Star International Co., Ltd.
Mitac Holdings Corp.*
Namchow Chemical Industrial Co., Ltd.
Nan Kang Rubber Tire Co., Ltd.*
Nuvoton Technology Corp.
OptoTech Corp.
Oriental Union Chemical Corp.
Phihong Technology Co., Ltd.
Powertech Technology, Inc.
Prince Housing & Development Corp.
Radiant Opto-Electronics Corp.
Radium Life Tech Co., Ltd.
Realtek Semiconductor Corp.
Rechi Precision Co., Ltd.
Richtek Technology Corp.
Ruentex Development Co., Ltd.
Ruentex Industries Ltd.
Sampo Corp.
Senao International Co., Ltd.
Sercomm Corp.
Shih Wei Navigation Co., Ltd.
Shin Zu Shing Co., Ltd.
Shinkong Synthetic Fibers Corp.
Sigurd Microelectronics Corp.
Silitech Technology Corp.
Sincere Navigation Corp.
Sonix Technology Co., Ltd.
Standard Foods Corp.
Syncmold Enterprise Corp.
Synnex Technology International Corp.
TA Chen Stainless Pipe Co., Ltd.*
Taiflex Scientific Co., Ltd.
Shares
1,784,122
1,690,623
9,461,992
1,619,657
488,283
3,821,999
1,373,516
302,860
282,004
7,811,960
2,082,187
449,495
1,147,368
4,364,612
4,047,958
2,455,412
357,233
419,773
1,090,615
701,362
1,043,041
994,759
3,523,877
1,972,596
726,086
900,954
100,632
2,721,518
5,342,767
4,271,064
3,093,240
6,419,690
2,231,252
1,710,953
1,280,770
401,391
468,910
2,218,537
451,162
1,557,000
699,599
871,488
1,026,309
456,580
6,525,761
3,764,830
1,131,692
4,626,546
435,205
957,133
451,220
12,084,000
1,963,100
742,974
Value
$
1,643,367
3,331,003
9,321,394
1,829,610
1,924,110
2,685,848
3,274,518
412,234
3,843,089
6,477,366
2,160,647
1,428,819
4,257,535
5,088,046
1,448,904
1,685,185
1,249,333
1,058,651
6,052,506
456,021
6,918,784
5,438,876
3,483,087
1,833,165
1,497,355
1,094,665
100,459
1,420,972
5,228,289
2,882,206
4,677,570
3,119,987
9,012,199
1,474,838
3,860,921
432,992
2,794,751
4,057,877
1,078,552
646,779
1,927,472
2,000,394
694,260
1,106,497
2,185,790
3,659,436
1,309,979
4,253,946
757,437
2,608,720
780,865
19,443,921
937,956
1,407,753
Investments
Shares
Tainan Spinning Co., Ltd.
Taiwan Cogeneration Corp.
Taiwan Glass Industry Corp.
Taiwan Hon Chuan Enterprise Co., Ltd.
Taiwan PCB Techvest Co., Ltd.
Taiwan Prosperity Chemical Corp.
Taiwan Secom Co., Ltd.
Taiwan Surface Mounting Technology Co.,
Ltd.
Teco Electric and Machinery Co., Ltd.
Test Research, Inc.
Test-Rite International Co., Ltd.
Ton Yi Industrial Corp.
Tong Hsing Electronic Industries Ltd.
Tong Yang Industry Co., Ltd.
Topco Scientific Co., Ltd.
Transcend Information, Inc.
Tripod Technology Corp.
Tsann Kuen Enterprise Co., Ltd.
TSRC Corp.
Tung Ho Steel Enterprise Corp.
TXC Corp.
U-Ming Marine Transport Corp.
Unimicron Technology Corp.
Unitech Printed Circuit Board Corp.*
United Integrated Services Co., Ltd.
USI Corp.
Visual Photonics Epitaxy Co., Ltd.
Wah Lee Industrial Corp.
Wei Chuan Food Corp.
Wistron Corp.
Wistron NeWeb Corp.
Wowprime Corp.
WPG Holdings Co., Ltd.
WT Microelectronics Co., Ltd.
YC Co., Ltd.
YFY, Inc.
Young Optics, Inc.
YungShin Global Holding Corp.
Yungtay Engineering Co., Ltd.
Zinwell Corp.
5,533,581
4,782,970
3,591,698
1,125,606
421,302
3,396,102
1,298,931
431,025
6,874,683
1,064,115
1,988,888
7,822,538
389,918
1,449,685
700,314
1,070,479
2,181,928
1,001,546
4,652,773
6,424,153
1,579,549
4,594,420
8,877,141
2,931,000
3,000,461
4,051,678
315,000
1,259,325
1,279,396
13,617,200
2,000,343
81,392
9,212,759
2,444,825
1,562,049
2,674,000
88,759
449,000
1,197,790
2,784,186
Total Taiwan
Value
$
4,179,373
2,976,349
3,461,664
2,439,537
563,765
3,412,551
3,331,303
639,054
7,664,247
1,726,206
1,443,377
8,887,934
2,016,652
2,113,653
1,366,018
3,480,089
4,291,848
1,338,574
6,951,849
5,453,226
2,111,079
7,769,892
7,141,941
1,183,854
3,768,743
2,621,067
302,561
2,522,579
1,928,389
11,201,407
4,506,150
1,181,357
11,117,934
3,135,060
1,172,082
1,211,763
185,665
805,037
3,437,709
3,263,950
501,781,769
Thailand – 8.6%
AEON Thana Sinsap (Thailand) PCL NVDR
Amata Corp. PCL
AP Thailand PCL
Bangchak Petroleum PCL
Bangkok Chain Hospital PCL NVDR
Bangkok Expressway PCL
Bangkok Life Assurance PCL NVDR
Bangkokland PCL NVDR
Bumrungrad Hospital PCL
Cal-Comp Electronics (Thailand) PCL NVDR
CH. Karnchang PCL NVDR
133,571
2,302,175
7,097,960
6,925,239
1,481,665
5,284,505
1,183,606
84,406,214
1,753,065
16,874,758
4,601,020
360,279
1,050,314
1,137,774
6,671,200
324,285
5,375,729
2,508,413
4,006,953
5,201,372
1,425,303
2,311,857
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 109
Schedule of Investments (concluded)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
March 31, 2014
Investments
Delta Electronics Thailand PCL
Dynasty Ceramic PCL
Eastern Water Resources Development and
Management PCL NVDR
Electricity Generating PCL
Esso Thailand PCL
Hana Microelectronics PCL
Hemaraj Land and Development PCL NVDR
Hemaraj Land and Development PCL
Jasmine International PCL
Khon Kaen Sugar Industry PCL NVDR
Kiatnakin Bank PCL NVDR
Kiatnakin Bank PCL
L.P.N Development PCL
L.P.N Development PCL NVDR
Major Cineplex Group PCL
MBK PCL NVDR
MCOT PCL
Precious Shipping PCL NVDR
Pruksa Real Estate PCL
Quality Houses PCL NVDR
Ratchaburi Electricity Generating Holding PCL
Ratchaburi Electricity Generating Holding PCL
NVDR
Robinson Department Store PCL
Rojana Industrial Park PCL NVDR
Samart Corp. PCL
Samart Telcoms PCL NDVR
Sansiri PCL
SNC Former PCL NVDR
Somboon Advance Technology PCL NVDR
Sri Trang Agro-Industry PCL NVDR
Sriracha Construction PCL NVDR
Srithai Superware PCL NVDR
Supalai PCL
Thai Stanley Electric PCL NVDR
Thai Union Frozen Products PCL NVDR
Thai Vegetable Oil PCL
Thanachart Capital PCL
Thitikorn PCL NVDR
Ticon Industrial Connection PCL NVDR
Tisco Financial Group PCL
Tisco Financial Group PCL NVDR
TPI Polene PCL NVDR
TPI Polene PCL
TTW PCL
Shares
6,474,951
1,527,021
11,776,267
2,471,289
2,845,848
2,015,091
4,996,472
2,644,547
27,377,223
3,957,500
10,091,996
8,426,557
1,483,006
3,852,523
3,025,902
2,686,118
4,409,169
405,742
3,690,974
708,410
6,225,441
46,752,852
3,940,190
1,000,082
8,137,390
939,534
2,486,396
2,633,074
380,623
2,457,669
3,636,615
1,942,902
5,047,233
1,492,430
1,324,842
2,568,844
1,801,074
3,328,021
616,911
3,895,698
4,352,454
6,285,599
712,500
940,433
58,465
4,546,100
4,326,724
67,406,418
1,265,754
855,096
6,084,060
726,444
653,946
8,171,327
50,770
4,041,305
7,806,148
5,423,466
654,229
6,452,315
1,952,575
3,025,757
1,553,461
729,098
21,615,824
1,136,618
1,529,218
12,436
2,564,539
1,840,592
3,927,193
604,784
421,749
2,869,486
800,566
409,220
4,483,650
317,704
8,564,726
5,462,378
6,018,643
190,581
3,421,079
2,452,757
3,800,851
531,548
249,476
6,463,425
Total Thailand
Turkey – 4.5%
Akcansa Cimento A.S.
Aksa Akrilik Kimya Sanayii*
Aksigorta A.S.
Anadolu Cam Sanayii A.S.
Anadolu Hayat Emeklilik A.S.
Aselsan Elektronik Sanayi ve Ticaret A.S.
Aslan Cimento A.S.
Value
$
157,021,645
428,473
1,323,007
397,050
151,307
636,690
745,691
35,474
2,213,270
4,217,889
538,260
118,828
1,392,908
3,001,309
439,445
Investments
Borusan Mannesmann Boru Sanayi ve
Ticaret A.S.
Brisa Bridgestone Sabanci Sanayi ve
Ticaret A.S.
Celebi Hava Servisi A.S.
Cimsa Cimento Sanayi ve Tica
Dogus Otomotiv Servis ve Ticaret A.S.
Konya Cimento Sanayii A.S.
Netas Telekomunikasyon A.S.
Otokar Otomotiv ve Savunma Sanayi A.S.
Selcuk Ecza Deposu Ticaret ve Sanayi A.S.
Sinpas Gayrimenkul Yatirim Ortakligi A.S.
Soda Sanayii A.S.
TAV Havalimanlari Holding A.S.
Tekfen Holding A.S.
Torunlar Gayrimenkul Yatirim Ortakligi A.S.
Trakya Cam Sanayii A.S.
Turk Traktor ve Ziraat Makineleri A.S.
Turkiye Sinai Kalkinma Bankasi A.S.
Turkiye Sise ve Cam Fabrikalari A.S.
Ulker Biskuvi Sanayi A.S.
Total Turkey
TOTAL COMMON STOCKS
(Cost: $1,651,070,201)
EXCHANGE-TRADED FUNDS & NOTES – 1.2%
United States – 1.2%
iPath MSCI India Index ETN*
WisdomTree Emerging Markets Equity Income
Fund(b)
TOTAL EXCHANGE-TRADED FUNDS & NOTES
(Cost: $20,644,323)
RIGHTS – 0.0%
Thailand – 0.0%
Samart Corp PCL expiring, 7/31/14*†
(Cost: $0)
INVESTMENT OF CASH COLLATERAL FOR
SECURITIES LOANED – 0.1%
United States – 0.1%
Dreyfus Institutional Preferred Money Market
Fund, 0.04%(c)
(Cost: $919,582)(d)
TOTAL INVESTMENTS IN SECURITIES – 99.6%
(Cost: $1,672,634,106)
Cash, Foreign Currency and Other Assets in
Excess of Liabilities – 0.4%
NET ASSETS – 100.0%
487,977
969,890
29,842
1,186,099
1,484,914
19,918
1,208,484
88,785
2,509,186
6,416,640
1,279,011
774,319
1,502,738
2,186,419
2,097,786
405,640
1,081,392
2,514,460
1,614,559
Value
$
1,281,989
2,443,767
226,689
6,182,219
5,476,800
2,174,109
3,022,340
2,282,711
2,381,099
2,189,672
1,751,824
6,225,826
3,428,086
2,851,584
2,069,151
10,429,226
925,088
2,726,976
11,358,972
81,350,037
1,783,270,635
302,629
18,348,396
85,320
4,186,652
22,535,048
89,419
—
919,582
919,582
1,806,725,265
7,601,270
$1,814,326,535
ETN – Exchange-Traded Note
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
†
Security is being fair valued by a valuation committee under the direction of the
Board of Trustees. The aggregate value of fair valued securities is $0, which
represents 0.0% of net assets.
(a) Security, or portion thereof, was on loan at March 31, 2014 (See Note 2).
(b) Affiliated company (See Note 7).
(c) Rate shown represents annualized 7-day yield as of March 31, 2014.
(d) At March 31, 2014, the total market value of the Fund’s securities on loan was
$836,280 and the total market value of the collateral held by the Fund was
$919,582.
See Notes to Financial Statements.
110 WisdomTree International Dividend and Sector Funds
Shares
Schedule of Investments
WisdomTree Middle East Dividend Fund (GULF)
March 31, 2014
Investments
COMMON STOCKS – 98.7%
Bahrain – 2.0%
Ahli United Bank BSC
Al-Salam Bank
Shares
1,155,000
331,841
Total Bahrain
Egypt – 11.0%
Commercial International Bank Egypt SAE
Eastern Tobacco
Juhayna Food Industries
Orascom Telecom Media And Technology Holding
SAE
Sidi Kerir Petrochemcials Co.
Telecom Egypt Co.
2,207,268
782,863
1,806,548
5,905,867
197,463
116,565
30,525
111,842
320,000
360,000
99,500
142,173
60,000
52,500
170,000
223,078
51,339
1,201,177
516,787
20,180
8,886
246,322
774,296
227,883
3,022,467
4,024,646
169,750
84,782
140,542
328,874
368,374
228,213
Total Oman
Qatar – 30.9%
Al Khaliji
Barwa Real Estate Co.
532,925
310,454
27,100
222,413
107,955
235,227
64,308
459,437
33,239
473,544
181,108
562,448
204,189
2,857,914
1,816,829
8,089,090
Total Morocco
Oman – 3.7%
Ahli Bank SAOG
Al Anwar Ceramic Tile Co.
Bank Sohar
BankMuscat SAOG
National Bank of Oman SAOG
Oman Telecommunications Co. SAOG
Total Qatar
12,303,220
278,578
746,562
Total Kuwait
Morocco – 7.5%
Attijariwafa Bank
Banque Marocaine du Commerce Exterieur
Maroc Telecom S.A.
1,210,275
694,730
336,221
78,237
86,730
11,089
Shares
1,111,515
98,760
902,343
193,341
136,122
13,780
42,257
Total Jordan
Kuwait – 15.1%
Agility Public Warehousing Co. KSC
Ahli United Bank
Aviation Lease And Finance Co. KSCC
Burgan Bank SAK
Commercial Real Estate Co. KSCC
Ikarus Petroleum Industries KSCC
KGL Logistics Co. KSCC
Kuwait Finance House
Kuwait Financial Center*
Kuwait Food Co. (Americana)*
Kuwait International Bank
Kuwait Projects Co. Holdings KSC
Mabanee Co. SAKC
Mobile Telecommunications Co. KSC
National Bank of Kuwait
$
Investments
Commercial Bank of Qatar QSC (The)
Doha Bank QSC
Gulf International Services OSC
Industries Qatar QSC
Masraf Al Rayan
Mazaya Qatar Real Estate Development QSC*
National Leasing
Ooredoo QSC
Qatar Electricity & Water Co.
Qatar Fuel Co.
Qatar Gas Transport Co. Nakilat
Qatar Insurance Co.
Qatar International Islamic Bank
Qatar Islamic Bank
Qatar National Bank SAQ
Qatari Investors’ Group
United Development Co.
Widam Food Co.
1,095,684
Total Egypt
Jordan – 2.3%
Arab Bank PLC
Jordan Phosphate Mines
Value
81,127
131,247
81,770
543,283
278,433
889,142
66,110
64,059
16,547
75,610
70,212
13,347
7,073
34,641
13,922
6,891
84,178
11,144
24,028
33,646
72,077
12,575
39,652
2,829
Value
$ 1,161,975
1,087,222
356,729
3,870,568
765,511
52,600
56,817
1,310,008
657,627
467,254
465,825
198,626
475,116
679,157
3,713,461
188,215
226,396
38,847
16,612,002
United Arab Emirates – 26.2%
Abu Dhabi Commercial Bank PJSC
Aldar Properties PJSC*
Aramex PJSC
DP World Ltd.
Dubai Investments PJSC
Dubai Islamic Bank PJSC
Emaar Properties PJSC
Emirates NBD PJSC
First Gulf Bank PJSC
Gulf Cement Co. PSC
National Bank of Abu Dhabi PJSC
National Central Cooling Co. PJSC
RAK Properties PJSC
Union National Bank PJSC*
1,022,612
679,986
110,765
39,407
545,283
650,049
410,054
977,028
741,667
80,000
459,583
14,858
490,711
224,767
2,032,417
638,702
99,517
705,385
561,168
1,086,660
1,110,819
2,197,182
3,291,361
35,795
1,701,696
8,819
148,295
428,361
Total United Arab Emirates
14,046,177
TOTAL COMMON STOCKS
(Cost: $44,024,128)
52,988,743
CONVERTIBLE BOND – 0.0%
Oman – 0.0%
BankMuscat SAOG, 4.50%, expiring 3/20/17
(Cost: $12,813)
TOTAL INVESTMENTS IN SECURITIES – 98.7%
(Cost: $44,036,941)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 1.3%
NET ASSETS – 100.0%
*
49,331
12,813
53,001,556
715,555
$53,717,111
Non-income producing security.
2,005,002
42,509
58,378
255,667
584,381
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 111
Schedule of Investments
WisdomTree Europe Hedged Equity Fund (HEDJ)
March 31, 2014
Investments
COMMON STOCKS – 99.6%
Austria – 1.0%
Andritz AG
Lenzing AG
RHI AG
Vienna Insurance Group AG Wiener Versicherung
Gruppe
Shares
49,314
12,413
9,499
Value
$
3,048,660
684,328
305,764
137,389
6,777,063
Total Austria
Belgium – 7.5%
Anheuser-Busch InBev N.V.
Delhaize Group S.A.
NV Bekaert S.A.
Solvay S.A.
UCB S.A.
10,815,815
576,842
50,812
33,479
44,091
83,726
60,501,953
3,715,177
1,365,354
6,924,560
6,706,776
Total Belgium
Finland – 3.0%
Amer Sports Oyj
Cargotec Oyj Class B
Huhtamaki Oyj
Kemira Oyj
Kone Oyj Class B
Konecranes Oyj
Metso Oyj
Outotec Oyj*
Wartsila Oyj Abp
79,213,820
54,388
36,772
68,753
123,774
253,342
50,618
180,339
118,867
102,373
1,155,887
1,583,781
1,885,700
1,804,858
10,628,689
1,613,647
5,898,143
1,317,180
5,563,397
Total Finland
France – 22.9%
Alstom S.A.
Arkema S.A.
Bourbon S.A.
Casino Guichard Perrachon S.A.
Christian Dior S.A.
Cie Generale des Etablissements Michelin
Dassault Systemes S.A.
Edenred
Essilor International S.A.
Etablissements Maurel et Prom
Havas S.A.
Hermes International
Ingenico
IPSOS
Kering
Lafarge S.A.
Legrand S.A.
L’Oreal S.A.
LVMH Moet Hennessy Louis Vuitton S.A.
Neopost S.A.
Pernod Ricard S.A.
Publicis Groupe S.A.
Rallye S.A.
Remy Cointreau S.A.
Rubis
Safran S.A.
31,451,282
149,867
22,213
30,515
67,556
45,235
92,787
17,217
108,148
32,733
45,579
132,383
15,710
8,638
14,694
43,262
43,957
106,145
161,987
169,987
37,987
69,826
48,498
44,999
10,134
19,951
141,800
4,093,903
2,516,558
1,003,066
8,042,758
8,712,730
11,609,277
2,017,942
3,394,726
3,302,363
701,691
991,470
5,231,196
808,252
596,421
8,827,605
3,435,097
6,597,141
26,724,044
30,913,841
3,001,021
8,132,082
4,383,521
2,102,473
813,588
1,436,742
9,828,466
Investments
Shares
Sanofi
Schneider Electric S.A.
SEB S.A.
Societe BIC S.A.
Sodexo
Technip S.A.
Teleperformance
Vallourec S.A.
Zodiac Aerospace
404,687
269,076
15,344
22,869
55,694
30,134
13,921
35,528
46,664
Total France
Germany – 26.2%
Adidas AG
Bayer AG
Bayerische Motoren Werke AG
Brenntag AG
Daimler AG
Duerr AG
E.ON SE
Fresenius Medical Care AG & Co. KGaA
Fresenius SE & Co. KGaA
GEA Group AG
HeidelbergCement AG
Henkel AG & Co. KGaA
Hochtief AG
Infineon Technologies AG
K+S AG
Krones AG
LANXESS AG
Linde AG
MAN SE
Merck KGaA
MTU Aero Engines AG
Norma Group SE
SAP AG
Siemens AG
Software AG
Symrise AG
Wacker Chemie AG
Netherlands – 17.5%
Aegon N.V.
4,397,780
30,911,440
33,418,486
2,092,244
55,323,835
464,327
40,504,156
3,575,862
3,721,336
1,905,720
1,733,681
4,714,777
1,611,991
2,837,029
3,631,315
320,920
1,464,813
8,444,341
2,534,846
6,094,825
870,634
356,151
18,217,464
46,232,576
708,161
1,276,670
735,613
278,100,993
523,202
34,998
14,562,674
537,349
15,100,023
145,739
853,984
339,563
334,772
65,706
Total Italy
See Notes to Financial Statements.
112 WisdomTree International Dividend and Sector Funds
40,627
228,438
264,648
11,274
585,226
6,016
2,071,044
51,224
23,768
41,673
20,220
46,893
17,748
237,639
110,494
3,359
19,412
42,196
19,883
36,173
9,364
6,718
224,946
343,341
19,544
25,546
6,022
Total Ireland
Italy – 1.9%
Luxottica Group SpA
Parmalat SpA
Pirelli & C. SpA
Salini Impregilo SpA
Salvatore Ferragamo SpA
42,211,253
23,864,447
1,324,702
3,005,355
5,843,756
3,111,175
807,469
1,929,523
1,649,670
242,965,324
Total Germany
Ireland – 1.4%
CRH PLC
Glanbia PLC
Value
$
8,432,301
2,944,862
5,335,229
2,043,999
1,935,251
20,691,642
1,859,398
17,075,366
Schedule of Investments (concluded)
WisdomTree Europe Hedged Fund (HEDJ)
March 31, 2014
Investments
Airbus Group N.V.
Akzo Nobel N.V.
Arcadis N.V.
ASM International N.V.
ASML Holding N.V.
Brunel International N.V.
Corbion N.V.
Fugro N.V.
Gemalto N.V.
Heineken Holding N.V.
Heineken N.V.
Koninklijke Ahold N.V.
Koninklijke BAM Groep N.V.
Koninklijke Boskalis Westminster N.V.
Koninklijke DSM N.V.
Koninklijke Philips N.V.
Reed Elsevier N.V.
STMicroelectronics N.V.
Unilever N.V.
Wolters Kluwer N.V.
Shares
210,888
132,089
26,686
18,432
65,767
8,638
41,089
62,514
7,867
97,817
177,817
639,373
136,302
82,598
91,755
593,291
465,935
683,834
1,009,688
216,393
Total Netherlands
Portugal – 1.1%
Jeronimo Martins, SGPS, S.A.
Portugal Telecom, SGPS, S.A.
217,752
1,763,899
423,259
141,988
1,968,245
2,281,803
354,863
6,998,664
5,437,264
422,958
3,605,243
83,785
388,861
54,049
13,946,395
84,093,005
51,865,329
2,897,220
15,204,909
3,643,288
2,502,875
3,054,586
181,457,655
TOTAL COMMON STOCKS
(Cost: $965,284,076)
TOTAL INVESTMENTS IN SECURITIES – 99.8%
(Cost: $966,872,809)
Cash, Foreign Currency and Other Assets in
Excess of Liabilities – 0.2%
NET ASSETS – 100.0%
*
3,655,420
7,504,784
11,160,204
Total Spain
RIGHTS – 0.2%
Spain – 0.2%
Banco Bilbao Vizcaya Argentaria S.A.,
expiring 5/14/14*
(Cost: $1,588,733)
15,111,221
10,782,917
1,026,713
740,142
6,093,952
605,743
970,087
3,845,747
916,641
6,318,163
12,381,250
12,848,123
817,183
4,550,211
6,299,669
20,855,517
10,072,510
6,333,559
41,518,447
6,108,028
185,271,189
Total Portugal
Spain – 17.1%
Abengoa S.A. Class B
Acerinox S.A.
ACS Actividades de Construccion y
Servicios, S.A.
Banco Bilbao Vizcaya Argentaria S.A.
Banco Santander S.A.
Duro Felguera S.A.
Mapfre S.A.
Obrascon Huarte Lain S.A.
Prosegur Cia de Seguridad S.A.
Tecnicas Reunidas S.A.
Value
$
1,056,227,947
6,861,416
1,607,646
1,057,835,593
2,483,891
$1,060,319,484
Non-income producing security.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 113
Schedule of Investments
WisdomTree Commodity Country Equity Fund (CCXE)
March 31, 2014
Investments
COMMON STOCKS – 99.3%
Australia – 11.8%
AGL Energy Ltd.
Amcor Ltd.
AMP Ltd.
Australia & New Zealand Banking Group Ltd.
BHP Billiton Ltd.
Coca-Cola Amatil Ltd.
Commonwealth Bank of Australia
CSL Ltd.
Insurance Australia Group Ltd.
Macquarie Group Ltd.
National Australia Bank Ltd.
Origin Energy Ltd.
QBE Insurance Group Ltd.
Rio Tinto Ltd.
Suncorp Group Ltd.
Telstra Corp., Ltd.
Wesfarmers Ltd.
Westpac Banking Corp.
Woodside Petroleum Ltd.
Woolworths Ltd.
Shares
1,812
2,794
7,240
8,447
9,409
2,575
4,877
474
5,076
685
8,056
3,355
1,752
1,016
2,753
60,525
4,059
10,303
2,520
3,933
Value
$
Total Australia
Brazil – 11.6%
Ambev S.A.
Banco Bradesco S.A.
Banco do Brasil S.A.
Banco Santander Brasil S.A.
BM&F Bovespa S.A.
CCR S.A.
Cia Energetica de Minas Gerais
Cia Siderurgica Nacional S.A.
Cielo S.A.
CPFL Energia S.A.
Itau Unibanco Holding S.A.
Natura Cosmeticos S.A.
Petroleo Brasileiro S.A.
Souza Cruz S.A.
Telefonica Brasil S.A.
Tim Participacoes S.A.
Tractebel Energia S.A.
Transmissora Alianca de Energia Eletrica S.A.
Ultrapar Participacoes S.A.
Vale S.A.
2,546,625
44,796
6,539
25,300
20,200
9,800
9,700
8,501
21,300
4,032
8,600
10,162
2,900
20,200
9,600
2,700
14,700
7,200
3,800
2,000
34,700
336,491
97,397
255,635
112,526
48,859
74,883
59,147
92,884
129,206
70,888
143,795
48,991
133,921
87,640
49,657
77,197
111,996
32,417
48,668
483,170
Total Brazil
Canada – 11.5%
Bank of Montreal
Bank of Nova Scotia
Barrick Gold Corp.
BCE, Inc.
Canadian Imperial Bank of Commerce
Cenovus Energy, Inc.
Crescent Point Energy Corp.
25,494
26,906
33,418
258,830
318,045
26,325
350,048
30,560
26,205
36,779
264,769
44,436
20,818
59,844
32,839
284,976
154,960
330,025
91,138
130,210
2,495,368
2,300
3,500
4,618
4,200
1,492
2,422
2,800
154,118
203,040
82,339
181,204
128,755
70,153
102,360
Investments
Enbridge, Inc.
Great-West Lifeco, Inc.
Husky Energy, Inc.
Manulife Financial Corp.
Potash Corp. of Saskatchewan, Inc.
Power Financial Corp.
Rogers Communications, Inc. Class B
Royal Bank of Canada
Sun Life Financial, Inc.
Suncor Energy, Inc.
Thomson Reuters Corp.
Toronto-Dominion Bank (The)
TransCanada Corp.
2,200
3,000
4,300
4,274
1,900
2,400
1,900
4,200
2,100
2,998
3,400
5,148
2,800
Total Canada
Chile – 9.7%
AES Gener S.A.
Aguas Andinas S.A. Class A
Antarchile S.A.
Banco de Chile
Banco de Credito e Inversiones
Banco Santander Chile
CAP S.A.
Cencosud S.A.
Cia Cervecerias Unidas S.A.
Corpbanca
Empresa Nacional de Electricidad S.A.
Empresas COPEC S.A.
Enersis S.A.
ENTEL Chile S.A.
Inversiones Aguas Metropolitanas S.A.
Inversiones La Construccion S.A.
Quinenco S.A.
SACI Falabella
New Zealand – 15.0%
Air New Zealand Ltd.
Auckland International Airport Ltd.
Contact Energy Ltd.
Ebos Group Ltd.
Fisher & Paykel Healthcare Corp., Ltd.
Fletcher Building Ltd.
Freightways Ltd.
Infratil Ltd.
Kathmandu Holdings Ltd.
Mainfreight Ltd.
Michael Hill International Ltd.
Nuplex Industries Ltd.
PGG Wrightson Ltd.
Ryman Healthcare Ltd.
SKY Network Television Ltd.
SKYCITY Entertainment Group Ltd.
Telecom Corp. of New Zealand Ltd.
Tower Ltd.
Value
$
100,079
82,818
129,185
82,556
68,839
74,430
78,858
277,362
72,832
104,872
116,409
241,740
127,474
2,479,423
138,054
232,410
4,626
2,155,129
1,521
3,836,347
2,985
16,517
5,744
5,936,170
112,106
9,716
815,136
7,419
44,152
3,190
36,775
18,627
Total Chile
See Notes to Financial Statements.
114 WisdomTree International Dividend and Sector Funds
Shares
75,156
143,458
61,317
270,007
87,075
223,602
48,114
54,436
64,176
69,511
161,344
126,405
252,249
90,293
71,308
42,860
79,461
163,217
2,083,989
94,326
125,218
38,100
2,988
45,268
56,977
13,746
59,309
18,952
5,887
20,210
24,531
128,116
13,214
38,854
49,005
350,759
15,365
167,386
413,986
175,886
26,577
166,945
470,686
57,732
116,312
63,315
67,687
23,851
73,652
45,581
100,331
210,722
167,120
742,665
20,933
Schedule of Investments (concluded)
WisdomTree Commodity Country Equity Fund (CCXE)
March 31, 2014
Investments
Shares
Trade Me Ltd.
30,020
Total New Zealand
Norway – 14.6%
Aker ASA Class A
Aker Solutions ASA
Atea ASA
DNB ASA
Fred Olsen Energy ASA
Gjensidige Forsikring ASA
Kongsberg Gruppen ASA
Leroey Seafood Group ASA
Marine Harvest ASA
Norsk Hydro ASA
Orkla ASA
Petroleum Geo-Services ASA
Schibsted ASA
SpareBank 1 SR Bank ASA
Statoil ASA
Telenor ASA
TGS Nopec Geophysical Co. ASA
Veidekke ASA
Wilh. Wilhelmsen ASA Class B
Yara International ASA
1,024
3,878
2,842
7,940
1,624
8,119
1,216
735
1,915
18,935
16,048
1,363
454
1,612
51,961
24,087
1,334
2,389
2,777
4,529
Investments
Shares
106,023
Liberty Holdings Ltd.
MMI Holdings Ltd.
MTN Group Ltd.
Nedbank Group Ltd.
RMB Holdings Ltd.
Sanlam Ltd.
Sasol Ltd.
Shoprite Holdings Ltd.
Standard Bank Group Ltd.
Tiger Brands Ltd.
Truworths International Ltd.
Vodacom Group Ltd.
Woolworths Holdings Ltd.
2,633
18,286
26,360
4,768
12,138
17,128
7,740
2,955
14,239
1,748
6,127
31,878
7,770
33,095
60,401
31,211
138,057
54,250
165,172
27,724
23,878
21,686
94,405
136,837
16,596
28,179
16,357
1,466,734
533,876
43,739
24,740
26,323
200,161
3,143,421
5,025
80,469
5,119
490
4,862
18,456
6,300
716
1,077
2,927
73,497
1,546
7,033
13,142
3,237
1,923
9,152
2,045
2,791
13,307
Total Russia
South Africa – 12.7%
Barclays Africa Group Ltd.
Bidvest Group Ltd.
Exxaro Resources Ltd.
FirstRand Ltd.
Imperial Holdings Ltd.
Kumba Iron Ore Ltd.
Value
3,217,390
Total Norway
Russia – 12.4%
Gazprom Neft JSC ADR
Gazprom OAO ADR
Lukoil OAO ADR
Magnit OJSC GDR
MegaFon OAO GDR
MMC Norilsk Nickel OJSC ADR
Mobile Telesystems OJSC ADR
NovaTek OAO Reg S GDR
Novolipetsk Steel OJSC Reg S GDR
Phosagro OAO Reg S GDR
Rosneft Oil Co. Reg S GDR
Rostelecom OJSC ADR
RushHydro JSC ADR
Sberbank of Russia ADR
Severstal OAO Reg S GDR
Sistema JSFC Reg S GDR
Surgutneftegas OJSC ADR
Tatneft ADR
Uralkali OJSC Reg S GDR
VTB Bank OJSC Reg S GDR
$
103,515
619,902
284,439
26,852
136,865
306,923
110,187
78,760
13,613
32,636
489,417
22,170
10,676
127,758
24,504
43,287
67,450
70,062
66,231
29,262
Total South Africa
RIGHTS – 0.0%
Chile – 0.0%
AES Gener S.A., expiring 5/30/14*
(Cost: $0)
TOTAL INVESTMENTS IN SECURITIES – 99.4%
(Cost: $20,883,161)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.6%
NET ASSETS – 100.0%
31,129
42,769
540,212
101,562
55,347
93,702
433,858
44,727
187,906
45,249
45,000
393,978
54,209
2,740,884
TOTAL COMMON STOCKS
(Cost: $20,872,428)
EXCHANGE-TRADED FUNDS – 0.1%
United States – 0.1%
WisdomTree Global Natural Resources Fund(a)
(Cost: $10,733)
Value
$
21,371,609
519
11,058
5,735
467
21,383,134
139,003
$21,522,137
ADR – American Depositary Receipt
GDR – Global Depositary Receipt
*
Non-income producing security.
(a) Affiliated company (See Note 7).
2,664,509
7,308
2,994
3,672
49,396
2,326
6,354
103,527
79,252
48,877
169,539
41,686
228,355
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 115
Schedule of Investments
WisdomTree Global Natural Resources Fund (GNAT)
March 31, 2014
Investments
COMMON STOCKS – 98.9%
Australia – 5.2%
BHP Billiton Ltd.
Rio Tinto Ltd.
Woodside Petroleum Ltd.
Shares
Value
Netherlands – 1.5%
Fugro N.V.
11,441
5,913
11,942
$
Total Australia
Brazil – 2.6%
Petroleo Brasileiro S.A.
Vale S.A.
14,500
35,200
96,131
490,133
586,264
1,336
6,220
3,700
14,508
17,313
4,146
10,700
2,186
3,423
5,892
4,509
10,643
130,399
142,630
142,033
530,372
370,337
76,741
321,461
101,957
124,019
133,881
157,728
230,072
Total Canada
China – 1.4%
China Shenhua Energy Co., Ltd. Class H
France – 3.2%
Technip S.A.
Total S.A.
2,461,630
111,500
321,978
1,273
8,778
131,430
575,878
Total France
Germany – 1.2%
K+S AG
386,731
348,284
431,891
1,166,906
Total Brazil
Canada – 11.0%
Agrium, Inc.
Cameco Corp.
Canadian Natural Resources Ltd.
Crescent Point Energy Corp.
Encana Corp.
First Quantum Minerals Ltd.
Husky Energy, Inc.
Imperial Oil Ltd.
Potash Corp. of Saskatchewan, Inc.
Silver Wheaton Corp.
Suncor Energy, Inc.
Teck Resources Ltd. Class B
707,308
7,833
257,427
Hong Kong – 1.0%
CNOOC Ltd.
143,618
215,879
Indonesia – 0.2%
PT Charoen Pokphand Indonesia Tbk
128,100
45,049
Israel – 1.8%
Israel Chemicals Ltd.
46,494
406,172
Italy – 2.4%
Eni SpA
21,489
539,329
Japan – 1.1%
Sumitomo Metal Mining Co., Ltd.
20,000
251,687
64,000
129,300
32,900
91,134
190,060
243,816
Malaysia – 2.4%
Felda Global Ventures Holdings Bhd
IOI Corp. Bhd
Kuala Lumpur Kepong Bhd
Total Malaysia
Mexico – 1.5%
Grupo Mexico S.A.B. de C.V. Series B
Industrias Penoles S.A.B de C.V.
Investments
525,010
71,507
4,460
225,940
116,620
Total Mexico
342,560
Norway – 3.8%
Statoil ASA
Yara International ASA
5,598
17,199
8,073
Total Norway
Value
$
344,379
485,486
356,790
842,276
Poland – 5.0%
KGHM Polska Miedz S.A.
31,229
1,125,584
Russia – 11.9%
Gazprom OAO ADR
Lukoil OAO ADR
MMC Norilsk Nickel OJSC ADR
NovaTek OAO Reg S GDR
Novolipetsk Steel OJSC Reg S GDR
Phosagro OAO GDR
Rosneft Oil Co. Reg S GDR
Uralkali OJSC Reg S GDR
53,497
6,035
42,997
1,252
7,663
32,208
62,002
8,014
411,927
335,305
715,040
137,720
96,861
359,119
412,871
190,172
Total Russia
2,659,015
Singapore – 0.5%
Wilmar International Ltd.
43,000
118,309
South Africa – 4.7%
Assore Ltd.
Exxaro Resources Ltd.
Kumba Iron Ore Ltd.
Sasol Ltd.
3,411
16,022
9,322
6,469
132,316
213,263
335,021
362,613
Total South Africa
South Korea – 0.6%
Korea Zinc Co., Ltd.
1,043,213
441
136,926
Spain – 1.1%
Repsol S.A.
9,521
243,091
Switzerland – 1.1%
Syngenta AG
Transocean Ltd.
462
1,649
174,842
67,987
Total Switzerland
Thailand – 2.2%
PTT Exploration & Production PCL
PTT PCL NVDR
242,829
51,541
27,200
Total Thailand
United Kingdom – 14.1%
Anglo American PLC
Antofagasta PLC
BG Group PLC
BHP Billiton PLC
BP PLC
Fresnillo PLC
Rio Tinto PLC
Royal Dutch Shell PLC Class A
Royal Dutch Shell PLC Class B
Tullow Oil PLC
Vedanta Resources PLC
Total United Kingdom
See Notes to Financial Statements.
116 WisdomTree International Dividend and Sector Funds
Shares
249,443
250,703
500,146
13,212
7,971
5,989
10,978
57,388
16,573
6,993
11,976
10,676
5,744
17,357
336,233
111,028
111,578
337,488
459,237
233,056
389,099
437,451
416,574
71,677
261,009
3,164,430
Schedule of Investments (concluded)
WisdomTree Global Natural Resources Fund (GNAT)
March 31, 2014
Investments
Shares
United States – 17.4%
Anadarko Petroleum Corp.
Apache Corp.
Archer-Daniels-Midland Co.
Baker Hughes, Inc.
Cabot Oil & Gas Corp.
CF Industries Holdings, Inc.
Chesapeake Energy Corp.
Chevron Corp.
ConocoPhillips
CONSOL Energy, Inc.
Devon Energy Corp.
Diamond Offshore Drilling, Inc.
EOG Resources, Inc.
Exxon Mobil Corp.
Freeport-McMoRan Copper & Gold, Inc.
Halliburton Co.
Helmerich & Payne, Inc.
Ingredion, Inc.
Marathon Oil Corp.
Monsanto Co.
Mosaic Co. (The)
National Oilwell Varco, Inc.
Noble Energy, Inc.
Occidental Petroleum Corp.
Oceaneering International, Inc.
Peabody Energy Corp.
Pioneer Natural Resources Co.
Southern Copper Corp.
347
749
5,083
2,126
214
333
5,648
1,846
5,356
3,426
1,967
5,598
296
2,126
8,962
1,724
806
1,715
4,351
967
2,059
936
1,133
2,050
1,021
7,701
19
9,712
Total United States
TOTAL EXCHANGE-TRADED FUNDS & NOTES
(Cost: $164,033)
TOTAL INVESTMENTS IN SECURITIES – 99.7%
(Cost: $24,896,844)
Cash, Foreign Currency and Other Assets in Excess of
Liabilities – 0.3%
NET ASSETS – 100.0%
$
29,412
62,130
220,551
138,233
7,250
86,793
144,702
219,508
376,795
136,869
131,651
272,958
58,066
207,668
296,373
101,526
86,693
116,757
154,548
110,016
102,950
72,886
80,488
195,345
73,369
125,834
3,556
282,716
3,895,643
TOTAL COMMON STOCKS
(Cost: $24,732,811)
EXCHANGE-TRADED FUNDS & NOTES – 0.8%
United States – 0.8%
iPath MSCI India Index ETN*
WisdomTree Global Equity Income Fund(a)
Value
22,143,040
2,073
1,182
125,686
56,133
181,819
22,324,859
57,991
$22,382,850
ADR – American Depositary Receipt
ETN – Exchange Traded Note
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
(a) Affiliated company (See Note 7).
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 117
Schedule of Investments
WisdomTree Global ex-U.S. Utilities Fund (DBU)
March 31, 2014
Investments
COMMON STOCKS – 98.8%
Australia – 2.4%
AGL Energy Ltd.
Envestra Ltd.
Shares
32,382
262,420
$
Total Australia
Austria – 0.9%
Verbund AG
Brazil – 11.1%
Centrais Eletricas Brasileiras S.A.
Cia de Saneamento Basico do Estado de Sao Paulo
Cia de Saneamento de Minas Gerais-COPASA
CPFL Energia S.A.
EDP-Energias do Brasil S.A.
Equatorial Energia S.A.
Light S.A.
Tractebel Energia S.A.
Transmissora Alianca de Energia Eletrica S.A.
12,777
238,000
6,000
12,100
40,400
77,200
6,488
99,200
29,500
46,400
455,601
273,627
21,275
32,300
4,629
36,001
43,012
696,122
56,105
194,812
333,011
352,387
58,799
824,285
458,874
395,834
3,370,229
Total France
Germany – 4.4%
E.ON SE
RWE AG
34,952
15,859
Total Germany
Hong Kong – 4.5%
China Power International Development Ltd.
China Resources Power Holdings Co., Ltd.
CLP Holdings Ltd.
Guangdong Investment Ltd.
Hong Kong & China Gas Co., Ltd.
Power Assets Holdings Ltd.
35,400
2,406
4,886
16,451
8,336
8,397
18,964
28,500
41,692
250,165
115,771
182,071
383,348
259,879
239,795
298,957
314,501
485,006
2,529,493
144,873
337,380
123,113
19,747
166,614
127,790
162,136
190,100
366,065
1,637,818
446,000
70,100
58,640
70,720
70,579
56,092
Total China
197,391
Czech Republic – 1.9%
CEZ AS
19,458
558,218
Finland – 1.9%
Fortum Oyj
25,297
575,282
841,989
884,117
333,350
731,623
851,279
683,569
643,927
797,000
78,100
33,822
256,600
50,633
29,886
276,385
203,379
255,069
245,120
110,443
259,097
1,349,493
Indonesia – 0.7%
PT Perusahaan Gas Negara Persero Tbk
492,500
222,189
Italy – 7.6%
A2A SpA
Edison SpA
Enel Green Power SpA
Enel SpA
Iren SpA
Snam SpA
Terna Rete Elettrica Nazionale SpA
167,148
18,265
51,585
109,888
89,866
103,044
95,624
216,780
25,828
144,896
622,169
162,254
603,586
512,414
Japan – 3.2%
Chugoku Electric Power Co., Inc. (The)
Electric Power Development Co., Ltd.
Hokuriku Electric Power Co.
Osaka Gas Co., Ltd.
Toho Gas Co., Ltd.
Tokyo Gas Co., Ltd.
2,287,927
17,000
4,642
16,800
36,000
23,000
24,000
Total Japan
Malaysia – 2.2%
Petronas Gas Bhd
Tenaga Nasional Bhd
YTL Corp. Bhd
New Zealand – 0.8%
Contact Energy Ltd.
Philippines – 2.2%
Aboitiz Power Corp.
Energy Development Corp.
Manila Electric Co.
Manila Water Co., Inc.
See Notes to Financial Statements.
237,540
131,392
218,432
136,680
125,513
122,115
971,672
25,500
82,900
385,460
Total Malaysia
Total Philippines
118 WisdomTree International Dividend and Sector Funds
$
1,327,496
Total Italy
266,117
546,576
25,424
80,475
124,454
88,792
523,937
18,051
226,657
Value
3,642,358
Total Hong Kong
Total Chile
China – 0.7%
China Datang Corp. Renewable Power Co., Ltd.
Class H
China Longyuan Power Group Corp. Class H
Huaneng Power International, Inc. Class H
Shares
France – 12.0%
EDF S.A.
GDF Suez
Rubis
Suez Environnement Co.
Veolia Environnement S.A.
262,916
Total Canada
Chile – 5.4%
AES Gener S.A.
Aguas Andinas S.A. Class A
Cia General de Electricidad S.A.
Colbun S.A.
E.CL S.A.
Empresa Nacional de Electricidad S.A.
Enersis S.A.
Gasco S.A.
Inversiones Aguas Metropolitanas S.A.
Investments
729,228
Total Brazil
Canada – 8.4%
Algonquin Power & Utilities Corp.
Atco Ltd. Class I
Canadian Utilities Ltd. Class A
Capital Power Corp.
Emera, Inc.
Fortis, Inc.
Northland Power, Inc.
Superior Plus Corp.
TransAlta Corp.
Value
185,852
303,624
180,602
670,078
54,815
253,050
431,400
697,800
24,940
134,200
357,857
88,071
157,943
71,521
675,392
Schedule of Investments (concluded)
WisdomTree Global ex-U.S. Utilities Fund (DBU)
March 31, 2014
Investments
Shares
Poland – 4.8%
Enea S.A.
PGE S.A.
Tauron Polska Energia S.A.
39,186
130,026
247,224
Total Poland
Value
$
207,512
813,362
429,577
1,450,451
Portugal – 2.4%
EDP-Energias de Portugal S.A.
157,752
732,928
Russia – 0.5%
Federal Hydrogenerating Co. JSC ADR
103,508
157,125
4,643
271,309
13,755
15,273
18,167
52,688
6,867
91,642
464,679
511,039
368,605
558,402
South Korea – 0.9%
Korea Gas Corp.*
Spain – 6.6%
EDP Renovaveis S.A.
Enagas S.A.
Gas Natural SDG S.A.
Iberdrola S.A.
Red Electrica Corp. S.A.
Total Spain
Thailand – 3.6%
Electricity Generating PCL NVDR
Glow Energy PCL
Ratchaburi Electricity Generating Holding PCL
Ratchaburi Electricity Generating Holding PCL
NVDR
Thai Tap Water Supply PCL NVDR
1,994,367
59,146
101,700
143,000
238,845
238,261
228,121
29,493
1,107,920
47,049
331,283
Total Thailand
United Kingdom – 9.7%
Centrica PLC
Drax Group PLC
National Grid PLC
Pennon Group PLC
Severn Trent PLC
SSE PLC
United Utilities Group PLC
1,083,559
60,132
39,442
35,804
31,823
11,261
17,465
34,013
Total United Kingdom
330,521
503,689
490,657
393,924
342,246
427,725
446,834
2,935,596
TOTAL COMMON STOCKS
(Cost: $28,541,322)
29,885,565
EXCHANGE-TRADED NOTE – 0.9%
United States – 0.9%
iPath MSCI India Index ETN*
(Cost: $229,630)
4,414
267,621
RIGHTS – 0.0%
Chile – 0.0%
AES Gener S.A., expiring 5/30/14*
(Cost: $0)
11,054
899
TOTAL INVESTMENTS IN SECURITIES – 99.7%
(Cost: $28,770,952)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.3%
NET ASSETS – 100.0%
ADR – American Depositary Receipt
ETN – Exchange-Traded Note
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
30,154,085
93,289
$30,247,374
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 119
Schedule of Investments
WisdomTree Global ex-U.S. Real Estate Fund (DRW)
March 31, 2014
Investments
COMMON STOCKS – 99.3%
Australia – 16.0%
Abacus Property Group
Australand Property Group
BWP Trust
CFS Retail Property Trust Group
Charter Hall Group
Charter Hall Retail REIT
Cromwell Property Group
Dexus Property Group
Federation Centres Ltd.
Goodman Group
GPT Group
Investa Office Fund
Lend Lease Group
Mirvac Group
Stockland
Westfield Group
Westfield Retail Trust
Shares
Value
RioCan Real Estate Investment Trust
$
6,848
5,991
485,692
714,156
1,199,848
12,800
47,900
44,743
11,100
69,000
10,900
16,500
101,367
415,636
369,405
107,040
121,702
62,313
354,057
7,200
105,296
Total Brazil
Canada – 8.8%
Allied Properties Real Estate Investment Trust
Artis Real Estate Investment Trust
Boardwalk Real Estate Investment Trust
Brookfield Asset Management, Inc. Class A
Brookfield Canada Office Properties
Calloway Real Estate Investment Trust
Canadian Apartment Properties REIT
Canadian Real Estate Investment Trust
Chartwell Retirement Residences
Cominar Real Estate Investment Trust
Dundee Real Estate Investment Trust Class A
First Capital Realty, Inc.
Granite Real Estate Investment Trust
H&R Real Estate Investment Trust
Morguard Real Estate Investment Trust
Northern Property Real Estate Investment Trust
293,226
719,070
279,555
1,519,725
219,296
306,492
354,680
1,368,557
735,191
1,197,516
1,471,096
429,801
1,462,596
1,043,422
2,344,498
4,343,964
2,393,268
20,481,953
Total Belgium
Brazil – 1.3%
Aliansce Shopping Centers S.A.
BR Malls Participacoes S.A.
BR Properties S.A.
Iguatemi Empresa de Shopping Centers S.A.
JHSF Participacoes S.A.
LPS Brasil Consultoria de Imoveis S.A.
Multiplan Empreendimentos Imobiliarios S.A.
Sao Carlos Empreendimentos e
Participacoes S.A.
Shares
74,170
Total Canada
134,625
183,844
129,450
867,548
59,299
92,369
398,617
1,392,988
336,108
273,156
433,661
143,124
133,167
662,219
674,542
457,249
866,494
Total Australia
Belgium – 0.9%
Befimmo S.A.
Cofinimmo
Investments
1,636,816
10,138
33,460
7,039
46,330
16,200
28,049
19,136
13,424
45,993
40,332
27,705
37,703
8,551
56,218
15,300
8,018
316,884
476,852
386,723
1,890,138
410,229
654,625
369,631
548,149
433,782
676,006
729,429
599,491
315,002
1,164,343
235,651
201,367
1,789,488
11,197,790
Chile – 0.2%
Parque Arauco S.A.
104,794
199,260
China – 1.0%
Guangzhou R&F Properties Co., Ltd. Class H
914,400
1,317,897
Finland – 0.2%
Sponda Oyj
66,428
314,947
France – 9.6%
Fonciere des Regions
Gecina S.A.
ICADE
Klepierre
Mercialys S.A.
Unibail-Rodamco SE
18,444
13,737
13,726
43,415
25,455
18,970
1,709,270
1,827,036
1,358,491
1,943,496
533,267
4,928,407
Total France
Germany – 0.9%
Deutsche Euroshop AG
Deutsche Wohnen AG
Deutsche Wohnen AG*
12,299,967
10,447
19,577
12,457
Total Germany
Hong Kong – 24.4%
Champion Real Estate Investment Trust
Cheung Kong Holdings Ltd.
China Overseas Grand Oceans Group Ltd.
China Overseas Land & Investment Ltd.
China South City Holdings Ltd.
Franshion Properties China Ltd.
Hang Lung Group Ltd.
Hang Lung Properties Ltd.
Henderson Land Development Co., Ltd.
Hui Xian Real Estate Investment Trust
Hysan Development Co., Ltd.
Kowloon Development Co., Ltd.
Link REIT (The)
New World Development Co., Ltd.
Regal Real Estate Investment Trust
Shenzhen Investment Ltd.
Sino Land Co., Ltd.
Sino-Ocean Land Holdings Ltd.
Sun Hung Kai Properties Ltd.
Swire Pacific Ltd. Class A
Swire Pacific Ltd. Class B
Swire Properties Ltd.
Wharf Holdings Ltd.
Wheelock & Co., Ltd.
Yuexiu Property Co., Ltd.
Yuexiu Real Estate Investment Trust
Indonesia – 0.2%
PT Bumi Serpong Damai
475,369
419,840
260,280
1,155,489
1,482,000
294,238
91,300
652,049
1,148,000
998,000
109,649
521,283
242,852
1,240,634
139,115
295,398
376,446
985,682
627,000
904,000
1,067,735
1,357,700
369,871
136,959
535,798
617,000
303,872
181,231
1,882,000
424,000
Total Hong Kong
See Notes to Financial Statements.
120 WisdomTree International Dividend and Sector Funds
Value
$
676,324
4,878,015
60,027
1,689,584
523,900
333,222
551,987
1,498,587
1,416,654
680,828
605,273
356,821
1,851,402
991,140
175,400
292,513
1,569,176
742,118
4,529,782
1,596,991
1,153,509
1,757,846
1,943,013
707,911
388,189
209,894
31,180,106
349,224
50,262
Schedule of Investments (continued)
WisdomTree Global ex-U.S. Real Estate Fund (DRW)
March 31, 2014
Investments
Shares
PT Ciputra Development Tbk
PT Lippo Karawaci Tbk
PT Summarecon Agung Tbk
654,817
538,500
713,500
Total Indonesia
Israel – 0.7%
Azrieli Group
Gazit-Globe Ltd.
Japan – 4.0%
Aeon Mall Co., Ltd.
Daito Trust Construction Co., Ltd.
Daiwa House Industry Co., Ltd.
Mitsubishi Estate Co., Ltd.
Mitsui Fudosan Co., Ltd.
Nomura Real Estate Holdings, Inc.
Sumitomo Real Estate Sales Co., Ltd.
Sumitomo Realty & Development Co., Ltd.
Tokyo Tatemono Co., Ltd.
Tokyu Fudosan Holdings Corp.
12,910
30,909
409,199
352,486
9,930
13,400
56,000
28,589
30,308
14,165
4,980
10,279
12,000
15,968
254,168
1,242,738
952,139
679,018
926,736
270,962
157,400
403,435
103,122
119,390
5,109,108
366,236
239,700
183,347
152,280
582,700
424,300
99,900
607,196
195,200
Total Malaysia
Mexico – 0.4%
Fibra Uno Administracion S.A. de CV
Netherlands – 2.2%
Corio N.V.
Eurocommercial Properties N.V.
Wereldhave N.V.
451,276
398,523
849,799
Total Japan
Malaysia – 1.5%
CapitaMalls Malaysia Trust
IGB Corp. Bhd
KLCC Property Holdings Bhd
Mah Sing Group Bhd
Pavilion Real Estate Investment Trust
SP Setia Bhd
Sunway Bhd
Sunway Real Estate Investment Trust
UOA Development Bhd
66,865
51,433
66,891
235,451
Total Israel
Italy – 0.3%
Beni Stabili SpA
Value
$
164,865
198,924
356,531
101,660
233,758
379,408
92,696
252,882
129,715
1,910,439
Shares
Singapore – 10.4%
Ascendas Real Estate Investment Trust
Ascott Residence Trust
CapitaCommercial Trust
CapitaLand Ltd.
CapitaMall Trust
CapitaMalls Asia Ltd.
CDL Hospitality Trusts
City Developments Ltd.
Far East Hospitality Trust
Fortune Real Estate Investment Trust
Fragrance Group Ltd.
Frasers Centrepoint Trust
Global Logistic Properties Ltd.
GuocoLand Ltd.
Keppel Land Ltd.
Keppel REIT
Mapletree Commercial Trust
Mapletree Industrial Trust
Mapletree Logistics Trust
Parkway Life Real Estate Investment Trust
Singapore Land Ltd.
Starhill Global REIT
Suntec Real Estate Investment Trust
UOL Group Ltd.
Wheelock Properties Singapore Ltd.
Wing Tai Holdings Ltd.
535,901
237,000
753,635
441,589
800,786
363,000
316,432
45,103
169,000
624,000
405,616
256,000
204,000
177,000
270,168
698,000
569,490
529,018
844,187
76,000
64,000
393,000
706,828
104,000
228,000
111,000
Total Singapore
South Africa – 2.6%
Capital Property Fund
Growthpoint Properties Ltd.
Hyprop Investments Ltd.
Redefine Properties Ltd.
Resilient Property Income Fund Ltd.
142,500
37,256
13,791
5,286
461,176
1,703,215
606,242
450,167
2,759,624
New Zealand – 0.2%
Goodman Property Trust
304,531
253,686
Philippines – 0.9%
Ayala Land, Inc.
Robinsons Land Corp.
SM Prime Holdings, Inc.
652,100
444,900
1,608,475
434,782
217,266
523,665
Total Philippines
1,175,713
69,048
189,882
Sweden – 1.4%
Atrium Ljungberg AB Class B
Castellum AB
Fabege AB
Hufvudstaden AB Class A
422,045
476,754
56,425
993,384
81,913
11,099
39,711
40,215
35,129
Total Taiwan
963,092
225,212
889,943
1,014,824
1,203,519
516,695
416,441
362,244
110,199
473,809
82,249
362,355
429,884
308,242
721,852
632,754
552,485
574,219
701,503
147,461
479,917
246,885
933,032
517,705
299,153
161,529
420,524
1,106,000
411,738
901,969
442,668
168,363
659,038
523,501
494,679
1,845,581
2,371
6,486
12,045
Total Switzerland
Taiwan – 1.2%
Cathay Real Estate Development Co., Ltd.
Farglory Land Development Co., Ltd.
Highwealth Construction Corp.
Ruentex Development Co., Ltd.
$
3,282,899
Total Sweden
Switzerland – 1.5%
Allreal Holding AG*
PSP Swiss Property AG*
Swiss Prime Site AG*
Value
13,327,203
Total South Africa
Total Netherlands
Russia – 0.2%
LSR Group OJSC GDR*
Investments
342,223
610,162
1,024,714
1,977,099
273,000
378,291
195,800
113,782
167,193
644,719
461,652
208,116
1,481,680
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 121
Schedule of Investments (concluded)
WisdomTree Global ex-U.S. Real Estate Fund (DRW)
March 31, 2014
Investments
Thailand – 1.4%
Bangkokland PCL NVDR
Central Pattana PCL NVDR
Hemaraj Land and Development PCL NVDR
Land and Houses PCL NVDR
LPN Development PCL NVDR
Pruksa Real Estate PCL NVDR
Quality Houses PCL NVDR
Sansiri PCL NVDR
Supalai PCL NVDR
Shares
1,184,321
220,774
1,700,400
1,794,259
261,800
231,193
1,630,806
2,034,051
338,321
Value
$
56,222
319,864
163,540
530,977
129,124
144,674
151,820
118,507
185,638
Total Thailand
Turkey – 0.3%
Emlak Konut Gayrimenkul Yatirim Ortakligi A.S.
Torunlar Gayrimenkul Yatirim Ortakligi A.S.
1,800,366
290,755
45,354
342,512
59,152
Total Turkey
United Kingdom – 6.6%
British Land Co. PLC
Derwent London PLC
Great Portland Estates PLC
Hammerson PLC
Intu Properties PLC
Land Securities Group PLC
Londonmetric Property PLC
Segro PLC
Shaftesbury PLC
401,664
179,212
9,165
32,085
120,838
201,288
117,364
178,711
186,440
17,600
1,953,978
414,073
337,525
1,116,061
946,328
1,997,723
422,178
1,031,934
193,069
Total United Kingdom
8,412,869
TOTAL COMMON STOCKS
(Cost: $117,572,957)
EXCHANGE-TRADED FUNDS – 0.3%
United States – 0.3%
WisdomTree Global Natural Resources Fund(a)
(Cost: $310,228)
RIGHTS – 0.1%
Hong Kong – 0.0%
New World Development Co., Ltd.,
expiring 5/17/14*
United Kingdom – 0.1%
Intu Properties PLC, expiring 5/17/14*
126,810,798
14,668
312,524
328,560
67,770
57,510
91,084
TOTAL RIGHTS
(Cost: $0)
TOTAL INVESTMENTS IN SECURITIES – 99.7%
(Cost: $117,883,185)
Cash, Foreign Currency and Other Assets in
Excess of Liabilities – 0.3%
NET ASSETS – 100.0%
158,854
127,282,176
441,747
$127,723,923
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
REIT – Real Estate Investment Trust
*
Non-income producing security.
(a) Affiliated company (See Note 7).
See Notes to Financial Statements.
122 WisdomTree International Dividend and Sector Funds
Schedule of Investments
WisdomTree China Dividend ex-Financials Fund (CHXF)
March 31, 2014
Investments
Shares
Value
COMMON STOCKS – 100.0%
China – 100.0%
Aerospace & Defense – 0.2%
AviChina Industry & Technology Co., Ltd. Class H
76,000
Airlines – 0.3%
Air China Ltd. Class H
92,000
54,320
Auto Components – 0.8%
Minth Group Ltd.
70,000
142,580
190,000
72,000
348,000
268,942
361,065
365,629
Automobiles – 5.7%
Dongfeng Motor Group Co., Ltd. Class H
Great Wall Motor Co., Ltd. Class H
Guangzhou Automobile Group Co., Ltd. Class H
$
42,325
995,636
Beverages – 0.5%
Tsingtao Brewery Co., Ltd. Class H
12,000
87,791
Chemicals – 0.7%
China BlueChemical Ltd. Class H
252,000
129,946
534,000
246,000
70,000
63,000
272,000
382,000
270,045
272,805
161,033
703,883
260,000
940,000
206,000
Total Diversified Telecommunication Services
Electrical Equipment – 1.4%
Shanghai Electric Group Co., Ltd. Class H
Zhuzhou CSR Times Electric Co., Ltd. Class H
372,428
114,484
118,576
605,488
Total Construction Materials
Diversified Telecommunication Services – 4.8%
China Communications Services Corp., Ltd. Class H
China Telecom Corp., Ltd. Class H
China Unicom Hong Kong Ltd.
120,329
435,036
270,876
826,241
314,000
40,000
Total Electrical Equipment
111,318
134,845
246,163
Gas Utilities – 1.4%
China Gas Holdings Ltd.
China Resources Gas Group Ltd.
ENN Energy Holdings Ltd.
37,500
194,098
Energy Equipment & Services – 1.1%
China Oilfield Services Ltd. Class H
82,000
192,393
Food & Staples Retailing – 1.5%
China Resources Enterprise Ltd.
Sun Art Retail Group Ltd.
Wumart Stores, Inc. Class H
46,000
79,000
31,000
129,869
99,297
30,212
22,000
20,000
22,000
Total Gas Utilities
259,378
149,000
74,000
58,201
212,258
21,013
724,025
34,374
63,684
153,293
251,351
Health Care Equipment & Supplies – 0.4%
Shandong Weigao Group Medical Polymer Co.,
Ltd. Class H
56,000
63,818
Health Care Providers & Services – 1.2%
Shanghai Pharmaceuticals Holding Co., Ltd.
Class H
Sinopharm Group Co., Ltd. Class H
42,900
41,200
97,557
112,865
Household Durables – 0.3%
Haier Electronics Group Co., Ltd.
Independent Power and Renewable Electricity
Producers – 4.6%
China Longyuan Power Group Corp. Class H
China Resources Power Holdings Co., Ltd.
Datang International Power Generation Co., Ltd.
Class H
Huaneng Power International, Inc. Class H
210,422
16,000
43,315
103,000
160,000
103,703
416,653
496,000
94,000
180,955
89,916
Total Independent Power and Renewable
Electricity Producers
Industrial Conglomerates – 4.4%
Beijing Enterprises Holdings Ltd.
Citic Pacific Ltd.
Shanghai Industrial Holdings Ltd.
791,227
18,500
250,000
49,000
Total Industrial Conglomerates
Internet Software & Services – 4.6%
Tencent Holdings Ltd.
Machinery – 1.2%
CSR Corp., Ltd. Class H
Weichai Power Co., Ltd. Class H
Metals & Mining – 4.7%
Fosun International Ltd.
Jiangxi Copper Co., Ltd. Class H
Zijin Mining Group Co., Ltd. Class H
Multiline Retail – 0.8%
Intime Retail Group Co., Ltd.
Oil, Gas & Consumable Fuels – 22.6%
China Coal Energy Co., Ltd. Class H
China Petroleum & Chemical Corp. Class H
China Shenhua Energy Co., Ltd. Class H
CNOOC Ltd.
165,752
443,468
163,290
772,510
11,500
799,821
161,000
18,000
135,325
68,106
203,431
131,000
205,000
1,468,000
Total Metals & Mining
Total Food & Staples Retailing
Value
$
1,015,497
Total Machinery
Electronic Equipment, Instruments &
Components – 1.1%
AAC Technologies Holdings, Inc.
Food Products – 5.8%
China Agri-Industries Holdings Ltd.
Tingyi Cayman Islands Holding Corp.
25,000
485,000
Total Health Care Providers & Services
Total Construction & Engineering
Construction Materials – 4.1%
Anhui Conch Cement Co., Ltd. Class H
China National Building Material Co., Ltd. Class H
China Shanshui Cement Group Ltd.
Shares
Uni-President China Holdings Ltd.
Want Want China Holdings Ltd.
Total Food Products
Total Automobiles
Construction & Engineering – 3.5%
China Communications Construction Co., Ltd.
Class H
China Railway Group Ltd. Class H
China State Construction International Holdings Ltd.
Investments
164,657
344,616
312,258
821,531
123,000
132,402
496,000
1,096,000
269,500
451,000
279,426
980,558
778,234
677,920
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 123
Schedule of Investments (concluded)
WisdomTree China Dividend ex-Financials Fund (CHXF)
March 31, 2014
Investments
Kunlun Energy Co., Ltd.
PetroChina Co., Ltd. Class H
Yanzhou Coal Mining Co., Ltd. Class H
Shares
108,000
744,000
296,000
Value
$
Total Oil, Gas & Consumable Fuels
Personal Products – 3.3%
Hengan International Group Co., Ltd.
Pharmaceuticals – 1.4%
China Medical System Holdings Ltd.
Sihuan Pharmaceutical Holdings Group Ltd.
3,931,311
55,000
569,708
52,000
151,000
58,857
182,009
Total Pharmaceuticals
Software – 0.5%
Kingsoft Corp., Ltd.
Technology Hardware, Storage &
Peripherals – 2.6%
Lenovo Group Ltd.
Textiles, Apparel & Luxury Goods – 0.5%
Shenzhou International Group Holdings Ltd.
Transportation Infrastructure – 5.4%
Beijing Capital International Airport Co., Ltd. Class H
China Merchants Holdings International Co., Ltd.
Jiangsu Expressway Co., Ltd. Class H
Zhejiang Expressway Co., Ltd. Class H
180,718
810,463
223,992
240,866
22,000
86,644
404,000
446,340
27,000
85,799
120,000
116,000
212,000
240,000
82,299
398,528
241,597
218,743
Total Transportation Infrastructure
941,167
Water Utilities – 1.4%
Guangdong Investment Ltd.
260,000
248,368
Wireless Telecommunication Services – 7.2%
China Mobile Ltd.
137,500
1,258,533
TOTAL INVESTMENTS IN SECURITIES – 100.0%
(Cost: $18,580,687)
Cash and Other Assets in Excess of
Liabilities – 0.0%
NET ASSETS – 100.0%
17,394,303
1,352
$17,395,655
See Notes to Financial Statements.
124 WisdomTree International Dividend and Sector Funds
Schedule of Investments
WisdomTree United Kingdom Hedged Equity Fund (DXPS)
March 31, 2014
Investments
COMMON STOCKS – 99.4%
United Kingdom – 99.4%
Aerospace & Defense – 2.0%
BAE Systems PLC
Cobham PLC
Meggitt PLC
Qinetiq Group PLC
Ultra Electronics Holdings PLC
Shares
Auto Components – 0.3%
GKN PLC
Banks – 8.3%
Barclays PLC
HSBC Holdings PLC
Standard Chartered PLC
34,107
7,413
3,897
2,511
377
1,764
Construction & Engineering – 0.5%
Balfour Beatty PLC
Carillion PLC
8,275
53,845
62,264
71,152
19,631
242,277
720,623
410,244
1,373,144
1,870
12,680
6,392
23,132
393,406
319,160
735,698
706
156
4,578
2,575
7,153
8,092
8,502
5,087
63,407
934
325
52,654
53,521
41,115
106,977
40,454
10,918
305,639
1,031
745
2,173
790
961
2,134
397
5,449
31,622
10,379
11,491
52,406
10,075
13,297
134,719
857
1,241
11,113
2,556
8,325
21,445
23,131
44,743
13,423
17,071
Value
$
12,381
132,194
862
2,323
Total Communications Equipment
Containers & Packaging – 0.5%
DS Smith PLC
Rexam PLC
RPC Group PLC
Total Chemicals
Commercial Services & Supplies – 0.8%
Aggreko PLC
Berendsen PLC
G4S PLC
Homeserve PLC
Rentokil Initial PLC
Communications Equipment – 0.1%
Pace PLC
Spirent Communications PLC
Total Construction & Engineering
Total Capital Markets
Chemicals – 0.8%
Alent PLC
Croda International PLC
Elementis PLC
Essentra PLC
Johnson Matthey PLC
Synthomer PLC
Victrex PLC
235,520
36,952
31,179
9,457
11,250
41,715
1,459
Total Biotechnology
Capital Markets – 1.8%
Aberdeen Asset Management PLC
ICAP PLC
Investec PLC
Man Group PLC
Schroders PLC
Schroders PLC NVDR
$
324,358
Total Beverages
Biotechnology – 0.0%
Abcam PLC
Genus PLC
Shares
Total Commercial Services & Supplies
Total Banks
Beverages – 4.4%
Britvic PLC
Diageo PLC
SABMiller PLC
Investments
Serco Group PLC
Total Aerospace & Defense
Airlines – 0.3%
easyJet PLC
Value
6,476
3,828
10,304
9,363
6,182
46,766
37,268
84,034
5,449
5,565
1,300
Total Containers & Packaging
29,479
45,164
13,686
88,329
Distributors – 0.2%
Inchcape PLC
2,751
29,628
Diversified Financial Services – 0.2%
IG Group Holdings PLC
3,105
32,483
46,989
36,602
4,150
297,292
32,097
50,264
Diversified Telecommunication Services – 2.3%
BT Group PLC
Cable & Wireless Communications PLC
Inmarsat PLC
Total Diversified Telecommunication Services
Electronic Equipment, Instruments &
Components – 0.6%
Domino Printing Sciences PLC
Electrocomponents PLC
Halma PLC
Oxford Instruments PLC
Premier Farnell PLC
Renishaw PLC
Spectris PLC
379,653
810
4,622
1,437
91
4,001
390
484
Total Electronic Equipment, Instruments &
Components
Energy Equipment & Services – 0.4%
AMEC PLC
Hunting PLC
John Wood Group PLC
95,133
2,397
784
1,073
Total Energy Equipment & Services
Food & Staples Retailing – 2.2%
Tesco PLC
Food Products – 3.2%
Associated British Foods PLC
Tate & Lyle PLC
Unilever PLC
44,837
11,260
13,721
69,818
74,691
367,835
2,815
3,025
8,535
130,513
33,663
364,408
Total Food Products
Health Care Equipment & Supplies – 0.4%
Smith & Nephew PLC
10,621
21,807
13,799
1,922
15,602
12,678
18,704
528,584
4,301
65,179
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 125
Schedule of Investments (continued)
WisdomTree United Kingdom Hedged Equity Fund (DXPS)
March 31, 2014
Investments
Shares
Hotels Restaurants & Leisure – 0.3%
Carnival PLC
1,380
Hotels, Restaurants & Leisure – 1.8%
Betfair Group PLC
Compass Group PLC
InterContinental Hotels Group PLC
Ladbrokes PLC
Millennium & Copthorne Hotels PLC
TUI Travel PLC
312
10,057
1,338
8,623
1,716
8,140
Value
$
5,753
153,414
42,984
19,407
16,164
59,439
Total Hotels, Restaurants & Leisure
Household Products – 2.2%
PZ Cussons PLC
Reckitt Benckiser Group PLC
297,161
1,794
4,446
10,534
362,232
Total Household Products
Industrial Conglomerates – 0.3%
Smiths Group PLC
Insurance – 5.9%
Amlin PLC
Aviva PLC
Direct Line Insurance Group PLC
Jardine Lloyd Thompson Group PLC
Old Mutual PLC
Prudential PLC
Standard Life PLC
372,766
2,534
53,736
6,678
35,406
11,724
1,368
39,200
15,142
20,009
53,918
281,559
46,421
24,266
131,424
320,220
125,927
983,735
351
4,084
IT Services – 0.1%
Computacenter PLC
1,230
13,503
Machinery – 1.2%
Bodycote PLC
Fenner PLC
IMI PLC
Melrose Industries PLC
Morgan Advanced Materials PLC
Rotork PLC
Senior PLC
Spirax-Sarco Engineering PLC
Vesuvius PLC
Weir Group PLC (The)
1,031
1,378
1,521
7,102
2,368
294
1,729
332
2,846
801
13,871
9,157
36,971
35,153
14,137
12,974
8,864
15,996
20,663
33,866
201,652
1,861
602
1,287
6,590
7,886
26,961
12,023
4,098
116,787
120,428
Total Media
Metals & Mining – 10.3%
Anglo American PLC
Antofagasta PLC
18,996
3,471
5,707
11,675
2,678
Total Metals & Mining
Multi-Utilities – 5.2%
Centrica PLC
National Grid PLC
49,681
42,716
Total Multi-Utilities
Oil, Gas & Consumable Fuels – 16.9%
BG Group PLC
BP PLC
Royal Dutch Shell PLC Class A
Royal Dutch Shell PLC Class B
Tullow Oil PLC
Paper & Forest Products – 0.2%
Mondi PLC
Pharmaceuticals – 10.6%
AstraZeneca PLC
GlaxoSmithKline PLC
Hikma Pharmaceuticals PLC
280,297
Real Estate Investment Trusts (REITs) – 0.3%
Hammerson PLC
10,235
107,683
23,237
22,521
2,193
305,643
41,564
190,682
861,714
848,784
878,761
27,366
2,359
41,255
15,012
29,428
472
970,182
780,804
13,070
1,764,056
8,699
464
1,833
644
21,029
23,764
14,998
14,934
74,725
4,806
44,388
498
5,542
Road & Rail – 0.1%
National Express Group PLC
5,057
23,615
Semiconductors & Semiconductor
Equipment – 0.2%
ARM Holdings PLC
CSR PLC
1,620
589
26,954
7,124
Real Estate Management & Development – 0.0%
Savills PLC
Total Semiconductors & Semiconductor
Equipment
Software – 0.5%
Aveva Group PLC
Fidessa Group PLC
Micro Focus International PLC
Sage Group PLC (The)
Specialty Retail – 0.6%
Kingfisher PLC
See Notes to Financial Statements.
126 WisdomTree International Dividend and Sector Funds
273,076
585,379
2,807,307
34,078
143
169
908
8,050
Total Software
12,010
2,984
583,980
8,946
80,254
649,611
40,271
858,455
Total Pharmaceuticals
Professional Services – 0.5%
Hays PLC
Intertek Group PLC
Michael Page International PLC
WS Atkins PLC
Value
$
1,710,269
Total Professional Services
Total Machinery
Media – 1.7%
Daily Mail and General Trust PLC Class A N.V.
Euromoney Institutional Investor PLC
ITE Group PLC
Pearson PLC
Reed Elsevier PLC
Shares
BHP Billiton PLC
Ferrexpo PLC
Fresnillo PLC
Rio Tinto PLC
Vedanta Resources PLC
Total Oil, Gas & Consumable Fuels
Total Insurance
Internet Software & Services – 0.0%
Telecity Group PLC
52,547
Investments
4,992
7,148
12,572
56,111
80,823
13,697
96,227
Schedule of Investments (concluded)
WisdomTree United Kingdom Hedged Equity Fund (DXPS)
March 31, 2014
Investments
Textiles, Apparel & Luxury Goods – 0.3%
Burberry Group PLC
Tobacco – 7.1%
British American Tobacco PLC
Imperial Tobacco Group PLC
Shares
1,806
14,054
9,633
Total Tobacco
Trading Companies & Distributors – 0.4%
Ashtead Group PLC
Bunzl PLC
SIG PLC
Wireless Telecommunication Services – 3.3%
Vodafone Group PLC
TOTAL INVESTMENTS IN SECURITIES – 99.4%
(Cost: $15,768,742)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.6%
NET ASSETS – 100.0%
$
42,002
781,512
389,125
1,170,637
732
1,542
2,381
Total Trading Companies & Distributors
Transportation Infrastructure – 0.1%
BBA Aviation PLC
Value
11,605
41,029
7,983
60,617
3,222
17,823
147,353
541,188
16,491,933
98,386
$16,590,319
NVDR – Non-Voting Depositary Receipt
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 127
Schedule of Investments
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
March 31, 2014
Investments
COMMON STOCKS – 98.6%
Japan – 98.6%
Air Freight & Logistics – 0.3%
Kintetsu World Express, Inc.
Mitsui-Soko Co., Ltd.
Yusen Logistics Co., Ltd.
Shares
2,600
19,000
5,000
Value
$
Total Air Freight & Logistics
Auto Components – 5.2%
Aisan Industry Co., Ltd.
Akebono Brake Industry Co., Ltd.
Calsonic Kansei Corp.
Daido Metal Co., Ltd.
Eagle Industry Co., Ltd.
EXEDY Corp.
FCC Co., Ltd.
G-TEKT Corp.
HI-LEX Corp.
H-One Co., Ltd.
Keihin Corp.
KYB Co., Ltd.
Musashi Seimitsu Industry Co., Ltd.
Nifco, Inc.
Nissan Shatai Co., Ltd.
Nissin Kogyo Co., Ltd.
Pacific Industrial Co., Ltd.
Press Kogyo Co., Ltd.
Riken Corp.
Sanden Corp.
Sanoh Industrial Co., Ltd.
Showa Corp.
Taiho Kogyo Co., Ltd.
Takata Corp.
Tokai Rika Co., Ltd.
Tokai Rubber Industries Ltd.
Topre Corp.
Toyo Tire & Rubber Co., Ltd.
TPR Co., Ltd.
Unipres Corp.
254,979
10,300
23,400
39,000
5,000
2,600
8,600
7,300
5,498
6,956
4,052
13,000
27,000
5,200
10,400
7,700
12,000
10,300
21,000
26,000
29,000
9,900
13,000
5,200
10,400
13,000
15,600
8,400
32,000
5,200
5,200
79,212
104,975
181,395
52,629
40,167
241,169
130,214
68,441
176,695
35,096
189,853
114,308
107,297
294,474
129,274
224,305
69,210
76,264
105,277
129,533
62,100
143,147
49,382
261,957
218,886
160,113
90,048
227,140
79,476
93,664
Total Auto Components
Banks – 8.9%
77 Bank Ltd. (The)
Akita Bank Ltd. (The)
Aomori Bank Ltd. (The)
Awa Bank Ltd. (The)
Bank of Iwate, Ltd. (The)
Bank of Nagoya Ltd. (The)
Bank of Okinawa, Ltd. (The)
Bank of Saga Ltd. (The)
Bank of the Ryukyus Ltd.
Chukyo Bank Ltd. (The)
Daisan Bank Ltd. (The)
Daishi Bank Ltd. (The)
Ehime Bank Ltd. (The)
115,755
76,011
63,213
3,935,701
52,000
48,000
52,000
26,000
2,700
26,000
2,700
28,000
7,800
26,000
70,000
69,000
36,000
234,287
138,894
143,904
138,603
130,694
101,743
114,177
60,902
103,990
45,696
123,028
253,930
77,254
Investments
Eighteenth Bank Ltd. (The)
FIDEA Holdings Co., Ltd.
Fukui Bank Ltd. (The)
Higashi-Nippon Bank Ltd. (The)
Higo Bank Ltd. (The)
Hokkoku Bank Ltd. (The)
Hokuetsu Bank Ltd. (The)
Hyakugo Bank Ltd. (The)
Hyakujushi Bank Ltd. (The)
Juroku Bank Ltd. (The)
Kagoshima Bank Ltd. (The)
Kansai Urban Banking Corp.
Keiyo Bank Ltd. (The)
Kiyo Bank Ltd. (The)
Michinoku Bank Ltd. (The)
Mie Bank Ltd. (The)
Miyazaki Bank Ltd. (The)
Musashino Bank Ltd. (The)
Nagano Bank Ltd. (The)
Nishi-Nippon City Bank Ltd. (The)
North Pacific Bank Ltd.
Ogaki Kyoritsu Bank Ltd. (The)
Oita Bank Ltd. (The)
San-In Godo Bank Ltd. (The)
Senshu Ikeda Holdings, Inc.
Shiga Bank Ltd. (The)
Shikoku Bank Ltd. (The)
Tochigi Bank Ltd. (The)
Toho Bank Ltd. (The)
Tokyo Tomin Bank, Ltd. (The)
TOMATO BANK, Ltd.
TOMONY Holdings, Inc.
Towa Bank, Ltd. (The)
Yachiyo Bank, Ltd. (The)
Yamagata Bank Ltd. (The)
Yamanashi Chuo Bank, Ltd. (The)
43,000
33,300
52,000
65,000
26,000
52,000
74,000
35,000
52,000
70,000
26,000
182,000
52,000
13,998
42,000
43,000
41,000
7,000
43,000
131,000
15,600
78,000
32,000
21,000
56,000
26,000
28,000
26,000
52,000
5,200
26,000
28,600
52,000
2,600
26,000
26,000
Total Banks
Beverages – 1.3%
Coca-Cola West Co., Ltd.
Ito En Ltd.
Sapporo Holdings Ltd.
Building Products – 2.5%
Aica Kogyo Co., Ltd.
Central Glass Co., Ltd.
NICHIAS Corp.
Nichiha Corp.
Nitto Boseki Co., Ltd.
Noritz Corp.
Okabe Co., Ltd.
Sanwa Holdings Corp.
Takara Standard Co., Ltd.
Value
$
94,363
63,053
128,252
160,315
138,855
182,279
155,207
144,099
178,744
244,696
165,364
217,371
222,168
179,690
86,867
96,451
125,008
232,461
77,244
295,111
63,469
213,584
124,601
142,331
256,115
141,380
57,639
110,579
169,656
53,977
45,444
119,138
50,998
71,245
110,832
117,648
6,703,336
20,800
13,900
73,000
Total Beverages
See Notes to Financial Statements.
128 WisdomTree International Dividend and Sector Funds
Shares
363,750
311,783
287,790
963,323
11,900
52,000
26,000
5,200
44,000
7,800
9,700
40,000
26,000
265,651
169,151
167,131
59,935
205,933
145,722
139,870
259,844
199,699
Schedule of Investments (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
March 31, 2014
Investments
Shares
Takasago Thermal Engineering Co., Ltd.
25,200
Total Building Products
Capital Markets – 0.7%
GCA Savvian Corp.
Ichiyoshi Securities Co., Ltd.
kabu.com Securities Co., Ltd.
Monex Group, Inc.
Toyo Securities Co., Ltd.
7,800
10,400
19,700
31,565
26,000
67,332
139,259
93,541
122,907
89,120
512,159
50,000
20,800
28,000
11,000
69,428
240,346
63,349
78,293
26,000
27,885
119,000
5,200
10,000
2,600
6,017
3,000
48,000
13,000
3,000
1,400
27,000
26,000
49,000
30,000
5,000
33,000
26,000
52,000
8,000
5,500
26,000
57,000
52,000
26,000
81,000
71,000
170,000
237,800
120,930
98,830
409,050
189,600
124,970
67,711
93,073
53,221
227,451
248,425
45,298
32,463
319,590
141,632
136,078
217,604
28,451
102,539
166,879
200,456
53,833
163,155
107,297
244,638
176,725
85,333
313,036
287,488
267,418
438,724
Total Chemicals
Commercial Services & Supplies – 2.0%
Aeon Delight Co., Ltd.
Daiseki Co., Ltd.
ITOKI Corp.
KOKUYO Co., Ltd.
Kyodo Printing Co., Ltd.
Matsuda Sangyo Co., Ltd.
258,643
1,871,579
Total Capital Markets
Chemicals – 7.4%
Achilles Corp.
ADEKA Corp.
Asahi Organic Chemicals Industry Co., Ltd.
Chugoku Marine Paints Ltd.
Dainichiseika Color & Chemicals Manufacturing Co.,
Ltd.
DAISO Co., Ltd.
Denki Kagaku Kogyo K.K.
Earth Chemical Co., Ltd.
Fujimi, Inc.
FUJIMORI KOGYO Co., Ltd.
JSP Corp.
Konishi Co., Ltd.
Kureha Corp.
Lintec Corp.
Nihon Nohyaku Co., Ltd.
Nihon Parkerizing Co., Ltd.
Nippon Shokubai Co., Ltd.
Nippon Soda Co., Ltd.
Nippon Valqua Industries Ltd.
NOF Corp.
Riken Technos Corp.
Sakai Chemical Industry Co., Ltd.
Sanyo Chemical Industries Ltd.
Sumitomo Bakelite Co., Ltd.
Sumitomo Seika Chemicals Co., Ltd.
Taiyo Holdings Co., Ltd.
Takiron Co., Ltd.
Toagosei Co., Ltd.
Tokai Carbon Co., Ltd.
Tokuyama Corp.
Tosoh Corp.
Toyo Ink SC Holdings Co., Ltd.
Toyobo Co., Ltd.
Ube Industries, Ltd.
Value
$
5,613,314
11,900
5,200
7,800
23,400
26,000
5,200
224,515
89,877
49,155
171,549
73,720
62,863
Investments
Shares
Moshi Moshi Hotline, Inc.
NAC Co., Ltd.
Okamura Corp.
Sato Holdings Corp.
Toppan Forms Co., Ltd.
26,000
3,000
19,000
5,400
26,000
Total Commercial Services & Supplies
Value
$
239,336
47,046
166,781
125,372
242,618
1,492,832
Communications Equipment – 0.2%
Hitachi Kokusai Electric, Inc.
14,000
168,432
Construction & Engineering – 3.8%
Asunaro Aoki Construction Co., Ltd.
COMSYS Holdings Corp.
Kandenko Co., Ltd.
Kitano Construction Corp.
Kyowa Exeo Corp.
Kyudenko Corp.
Maeda Corp.
Maeda Road Construction Co., Ltd.
MIRAIT Holdings Corp.
NDS Co., Ltd.
Nippo Corp.
Nippon Densetsu Kogyo Co., Ltd.
Nippon Koei Co., Ltd.
Nishimatsu Construction Co., Ltd.
Okumura Corp.
Penta-Ocean Construction Co., Ltd.
Sumitomo Densetsu Co., Ltd.
Taikisha Ltd.
Toda Corp.
Toshiba Plant Systems & Services Corp.
Totetsu Kogyo Co., Ltd.
Toyo Engineering Corp.
13,000
18,200
48,000
26,000
18,200
11,000
26,000
13,000
12,344
26,000
6,000
5,000
21,000
46,000
52,000
22,500
5,000
7,300
52,000
6,000
5,000
21,000
74,224
285,941
243,764
65,136
234,337
88,226
164,101
181,648
108,355
71,952
83,022
67,437
105,015
149,187
232,267
76,686
62,291
158,639
171,170
89,605
92,878
96,655
Total Construction & Engineering
Construction Materials – 0.3%
Sumitomo Osaka Cement Co., Ltd.
Consumer Finance – 0.1%
Pocket Card Co., Ltd.
Containers & Packaging – 1.1%
FP Corp.
Fuji Seal International, Inc.
Nihon Yamamura Glass Co., Ltd.
Pack Corp. (The)
Rengo Co., Ltd.
Tomoku Co., Ltd.
2,902,536
58,000
240,482
7,800
42,944
6,000
4,500
26,000
4,900
52,000
20,000
191,387
153,590
45,948
93,732
279,730
56,902
Total Containers & Packaging
Distributors – 0.6%
Chori Co., Ltd.
Doshisha Co., Ltd.
Happinet Corp.
Paltac Corp.
Sankyo Seiko Co., Ltd.
Total Distributors
821,289
5,200
5,500
5,200
16,703
18,200
56,754
84,915
43,525
190,896
66,272
442,362
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 129
Schedule of Investments (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
March 31, 2014
Investments
Diversified Consumer Services – 0.1%
Meiko Network Japan Co., Ltd.
Riso Kyoiku Co., Ltd.
Shares
5,200
13,386
Value
$
Total Diversified Consumer Services
Electric Utilities – 0.1%
Okinawa Electric Power Co., Inc. (The)
Electrical Equipment – 1.9%
Daihen Corp.
Denyo Co., Ltd.
ENDO Lighting Corp.
Fujikura Ltd.
Furukawa Electric Co., Ltd.
GS Yuasa Corp.
IDEC Corp.
Nippon Carbon Co., Ltd.
Nissin Electric Co., Ltd.
Nitto Kogyo Corp.
Tatsuta Electric Wire and Cable Co., Ltd.
Ushio, Inc.
88,990
Shares
Energy Equipment & Services – 0.4%
Modec, Inc.
Shinko Plantech Co., Ltd.
Toyo Kanetsu K.K.
3,600
18,500
24,000
Total Energy Equipment & Services
2,600
88,236
26,000
4,400
1,448
45,000
78,000
49,000
8,700
26,000
8,000
7,800
7,000
18,200
103,763
74,127
27,094
206,244
194,650
260,261
81,691
49,483
41,326
164,051
36,296
235,397
Total Electrical Equipment
Electronic Equipment, Instruments &
Components – 5.0%
Ai Holdings Corp.
Amano Corp.
ANRITSU Corp.
Azbil Corp.
Canon Electronics, Inc.
Citizen Holdings Co., Ltd.
CONEXIO Corp.
Daiwabo Holdings Co., Ltd.
Elematec Corp.
Enplas Corp.
Hakuto Co., Ltd.
HORIBA Ltd.
Japan Aviation Electronics Industry Ltd.
Kaga Electronics Co., Ltd.
KOA Corp.
MACNICA, Inc.
Nichicon Corp.
Nippon Signal Co., Ltd. (The)
Nohmi Bosai Ltd.
OHARA, Inc.
OPTEX Co., Ltd.
Panasonic Industrial Devices SUNX Co., Ltd.
Ryoden Trading Co., Ltd.
Ryosan Co., Ltd.
Sanshin Electronics Co., Ltd.
SIIX Corp.
Taiyo Yuden Co., Ltd.
Tomen Electronics Corp.
Topcon Corp.
UKC Holdings Corp.
55,845
33,145
Investments
1,474,383
12,200
18,200
18,200
19,300
12,400
39,400
13,000
49,000
5,000
1,329
4,700
5,200
7,000
7,800
7,800
3,000
10,400
9,700
8,666
6,900
4,700
12,205
10,000
8,300
7,800
7,100
7,300
5,200
7,700
2,900
215,604
188,389
209,419
477,510
216,730
297,265
103,005
85,643
86,712
74,848
44,132
196,417
104,811
107,928
87,100
88,994
82,505
84,864
109,729
42,545
81,326
52,738
68,262
175,615
52,336
116,512
90,235
83,061
126,508
50,152
Total Electronic Equipment, Instruments &
Components
3,800,895
Food & Staples Retailing – 3.5%
Ain Pharmaciez, Inc.
Arcs Co., Ltd.
Belc Co., Ltd.
Cawachi Ltd.
COSMOS Pharmaceutical Corp.
Create SD Holdings Co., Ltd.
Heiwado Co., Ltd.
Izumiya Co., Ltd.
Kasumi Co., Ltd.
Kato Sangyo Co., Ltd.
Matsumotokiyoshi Holdings Co., Ltd.
MINISTOP Co., Ltd.
Mitsubishi Shokuhin Co., Ltd.
SAN-A Co., Ltd.
Tsuruha Holdings, Inc.
UNY Group Holdings Co., Ltd.
Valor Co., Ltd.
Welcia Holdings Co., Ltd.
Yokohama Reito Co., Ltd.
See Notes to Financial Statements.
130 WisdomTree International Dividend and Sector Funds
1,431
10,400
5,200
4,700
300
2,800
7,800
11,000
13,000
7,800
8,800
4,600
7,700
4,300
2,600
64,300
7,800
2,100
13,000
91,307
143,531
61,291
66,350
203,385
98,865
89,541
35,131
94,888
109,898
55,328
88,110
166,248
280,701
74,549
174,883
127,140
256,251
383,359
98,234
118,474
108,433
2,629,768
5,200
21,000
12,900
8,300
32,000
39,000
11,800
26,000
28,000
6,800
34,000
65,000
52,000
52,000
49,000
36,000
46,000
3,000
7,300
26,000
26,000
5,200
Total Food Products
Gas Utilities – 0.3%
Hokkaido Gas Co., Ltd.
Saibu Gas Co., Ltd.
$
296,129
Total Food & Staples Retailing
Food Products – 3.8%
Ariake Japan Co., Ltd.
Ezaki Glico Co., Ltd.
Fuji Oil Co., Ltd.
Hokuto Corp.
Itoham Foods, Inc.
J-Oil Mills, Inc.
Kagome Co., Ltd.
Kyokuyo Co., Ltd.
Marudai Food Co., Ltd.
Maruha Nichiro Corp.*
Mitsui Sugar Co., Ltd.
Morinaga & Co., Ltd.
Morinaga Milk Industry Co., Ltd.
Nichirei Corp.
Nippon Beet Sugar Manufacturing Co., Ltd.
Nippon Flour Mills Co., Ltd.
Nisshin Oillio Group Ltd. (The)
Rock Field Co., Ltd.
Sakata Seed Corp.
Showa Sangyo Co., Ltd.
Starzen Co., Ltd.
Yonekyu Corp.
Value
120,880
278,749
165,595
173,036
146,041
104,141
200,400
66,146
83,197
110,268
130,077
142,642
167,636
220,149
95,160
197,504
150,080
57,008
100,655
85,080
69,680
40,596
2,904,720
26,000
52,000
71,447
131,786
Schedule of Investments (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
March 31, 2014
Investments
Shizuoka Gas Co., Ltd.
Shares
9,400
Total Gas Utilities
Health Care Equipment & Supplies – 1.2%
EIKEN CHEMICAL Co., Ltd.
Hogy Medical Co., Ltd.
MANI, Inc.
Nagaileben Co., Ltd.
Nihon Kohden Corp.
Nikkiso Co., Ltd.
Paramount Bed Holdings Co., Ltd.
4,700
2,600
2,600
7,700
6,000
5,000
3,703
3,000
9,100
3,459
5,500
7,800
2,600
10,300
2,748
2,600
2,600
5,400
13,000
17,900
26,000
5,200
2,600
9,000
26,000
5,532
5,200
15,600
Total Hotels, Restaurants & Leisure
Household Durables – 1.9%
Cleanup Corp.
Foster Electric Co., Ltd.
France Bed Holdings Co., Ltd.
Fujitsu General Ltd.
Iida Group Holdings Co., Ltd.
JVCKENWOOD Corp.*
Misawa Homes Co., Ltd.
PanaHome Corp.
Pressance Corp.
Tamron Co., Ltd.
TOA Corp.
Token Corp.
Total Household Durables
81,828
133,301
108,054
164,565
239,744
55,639
115,960
899,091
Total Health Care Providers & Services
Hotels, Restaurants & Leisure – 2.7%
Aeon Fantasy Co., Ltd.
Doutor Nichires Holdings Co., Ltd.
Ichibanya Co., Ltd.
Kyoritsu Maintenance Co., Ltd.
MOS Food Services, Inc.
Ohsho Food Service Corp.
Plenus Co., Ltd.
Resorttrust, Inc.
Round One Corp.
Saizeriya Co., Ltd.
St. Marc Holdings Co., Ltd.
TOKYO DOME Corp.
Tokyotokeiba Co., Ltd.
Toridoll.Corp.
WATAMI Co., Ltd.
Zensho Holdings Co., Ltd.
57,504
260,737
Total Health Care Equipment & Supplies
Health Care Providers & Services – 0.7%
BML, Inc.
Nichii Gakkan Co.
Ship Healthcare Holdings, Inc.
Toho Holdings Co., Ltd.
Vital KSK Holdings, Inc.
Value
$
Investments
Shares
Household Products – 0.7%
Lion Corp.
Pigeon Corp.
45,000
5,600
Total Household Products
520,377
256,931
Internet & Catalog Retail – 1.0%
ASKUL Corp.
Belluna Co., Ltd.
Nissen Holdings Co., Ltd.
Senshukai Co., Ltd.
Start Today Co., Ltd.
7,800
16,300
18,200
13,000
10,200
246,152
81,037
74,224
106,287
261,772
506,265
Total Internet Software & Services
Internet Software & Services – 0.5%
GMO Internet, Inc.
Gurunavi, Inc.
Internet Initiative Japan, Inc.
IT Services – 1.6%
Ines Corp.
Information Services International-Dentsu Ltd.
IT Holdings Corp.
NEC Networks & System Integration Corp.
NET One Systems Co., Ltd.
Nihon Unisys, Ltd.
NS Solutions Corp.
769,472
15,800
10,400
2,000
17,300
5,200
12,300
9,800
31,200
13,000
11,000
Total IT Services
Leisure Products – 1.4%
Daikoku Denki Co., Ltd.
Dunlop Sports Co., Ltd.
Fields Corp.
Mars Engineering Corp.
Mizuno Corp.
TOMY Co., Ltd.
Universal Entertainment Corp.
96,573
36,588
97,451
77,371
468,600
60,204
61,850
220,304
67,559
125,829
53,883
94,724
1,460,936
Machinery – 7.1%
Aida Engineering Ltd.
Asahi Diamond Industrial Co., Ltd.
Bando Chemical Industries Ltd.
Chugai Ro Co., Ltd.
CKD Corp.
Daifuku Co., Ltd.
DMG MORI SEIKI Co., Ltd.
Fujitec Co., Ltd.
Furukawa Co., Ltd.
GLORY Ltd.
Hitachi Koki Co., Ltd.
Hitachi Zosen Corp.
ISEKI & Co., Ltd.
Kitz Corp.
157,870
146,429
48,376
352,675
119,438
63,520
202,323
199,645
212,373
127,368
249,939
1,174,606
5,500
11,750
8,100
5,500
26,000
18,200
17,400
Total Leisure Products
9,600
3,000
52,000
8,000
33,771
24,900
4,800
32,000
2,600
5,300
5,300
2,080
266,981
253,396
30,000
Total Internet & Catalog Retail
2,053,259
$
Industrial Conglomerates – 0.3%
Nisshinbo Holdings, Inc.
112,880
84,740
133,006
116,638
59,001
33,199
181,726
113,538
87,857
52,462
181,949
302,830
277,577
223,178
64,681
128,252
46,317
77,759
52,696
76,093
153,145
Value
118,988
142,846
117,900
103,768
146,682
84,474
318,314
1,032,972
18,200
13,000
21,000
26,000
8,000
15,500
17,700
15,000
50,000
10,400
31,200
20,800
26,000
18,200
173,544
165,743
86,459
58,824
76,438
192,047
224,290
203,476
90,304
285,688
245,092
99,370
68,923
89,246
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 131
Schedule of Investments (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
March 31, 2014
Investments
Kyokuto Kaihatsu Kogyo Co., Ltd.
Makino Milling Machine Co., Ltd.
Meidensha Corp.
Minebea Co., Ltd.
Mitsui Engineering & Shipbuilding Co., Ltd.
Miura Co., Ltd.
Nachi-Fujikoshi Corp.
Nitta Corp.
Noritake Co., Ltd.
Obara Group, Inc.
Oiles Corp.
OKUMA Corp.
OSG Corp.
Ryobi Ltd.
SHIMA SEIKI MFG., Ltd.
Shinmaywa Industries Ltd.
Sintokogio, Ltd.
Sodick Co., Ltd.
Star Micronics Co., Ltd.
Tadano Ltd.
Tocalo Co., Ltd.
Torishima Pump Manufacturing Co., Ltd.
Toshiba Machine Co., Ltd.
Tsubakimoto Chain Co.
Tsugami Corp.
Union Tool Co.
Shares
6,671
8,000
32,000
57,000
130,000
7,200
26,000
4,800
35,000
2,600
6,000
19,000
13,000
33,000
3,900
8,000
7,200
13,000
13,000
7,000
4,900
5,200
26,000
19,000
9,000
3,000
$
Total Machinery
Value
Investments
96,452
56,474
142,001
508,093
275,186
198,623
171,676
89,675
88,702
97,577
128,582
153,867
225,955
100,937
60,137
73,176
55,162
48,978
157,033
91,217
77,745
64,277
123,202
136,156
53,921
68,748
OSAKA Titanium Technologies Co., Ltd.
Toho Zinc Co., Ltd.
Topy Industries Ltd.
Toyo Kohan Co., Ltd.
UACJ Corp.
5,402,996
Shares
3,000
26,000
47,000
26,000
100,532
Total Metals & Mining
Multiline Retail – 1.0%
Fuji Co., Ltd.
H2O Retailing Corp.
Izumi Co., Ltd.
Parco Co., Ltd.
Seria Co., Ltd.
2,600
23,000
10,400
15,600
2,046
31,300
78,000
5,200
26,000
26,000
19,000
80,000
58,669
173,229
Total Marine
Media – 1.9%
Asatsu-DK, Inc.
Avex Group Holdings, Inc.
CyberAgent, Inc.
Daiichikosho Co., Ltd.
Gakken Holdings Co., Ltd.
Kadokawa Corp.
OPT, Inc.
Proto Corp.
Toei Co., Ltd.
Zenrin Co., Ltd.
231,898
4,900
6,900
9,237
11,300
19,000
2,600
5,532
5,532
20,000
10,400
101,487
121,471
354,286
342,890
52,950
83,439
42,275
77,083
120,406
105,227
Total Media
Metals & Mining – 2.1%
Aichi Steel Corp.
Asahi Holdings, Inc.
Kurimoto, Ltd.
Kyoei Steel Ltd.
Mitsui Mining & Smelting Co., Ltd.
Neturen Co., Ltd.
Nippon Denko Co., Ltd.
Nisshin Steel Holdings Co., Ltd.
Nittetsu Mining Co., Ltd.
1,401,514
32,000
11,000
17,000
5,200
74,000
8,400
22,000
5,532
19,000
126,154
178,910
37,636
92,402
171,015
53,670
58,747
47,432
74,535
Personal Products – 1.4%
Kobayashi Pharmaceutical Co., Ltd.
Kose Corp.
Mandom Corp.
Pola Orbis Holdings, Inc.
29,000
22,000
50,000
28,000
Total Professional Services
See Notes to Financial Statements.
132 WisdomTree International Dividend and Sector Funds
5,300
8,400
4,700
7,266
306,210
276,506
170,229
289,624
1,042,569
2,600
26,000
26,000
13,000
2,600
8,100
2,000
10,900
4,300
2,600
11,800
3,800
Total Pharmaceuticals
Professional Services – 0.8%
Meitec Corp.
Nomura Co., Ltd.
Temp Holdings Co., Ltd.
79,128
264,679
251,493
62,533
657,833
Total Personal Products
Pharmaceuticals – 2.8%
Fuji Pharma Co., Ltd.
Fuso Pharmaceutical Industries, Ltd.
Kaken Pharmaceutical Co., Ltd.
KYORIN Holdings, Inc.
Mochida Pharmaceutical Co., Ltd.
Nichi-Iko Pharmaceutical Co., Ltd.
Nippon Shinyaku Co., Ltd.
ROHTO Pharmaceutical Co., Ltd.
Sawai Pharmaceutical Co., Ltd.
Towa Pharmaceutical Co., Ltd.
Tsumura & Co.
ZERIA Pharmaceutical Co., Ltd.
180,229
93,917
79,476
159,557
99,723
612,902
Total Paper & Forest Products
Marine – 0.3%
Japan Transcity Corp.
Kawasaki Kisen Kaisha, Ltd.
47,918
183,803
308,006
133,149
75,991
748,867
Total Oil, Gas & Consumable Fuels
Paper & Forest Products – 0.9%
Daiken Corp.
Daio Paper Corp.
Hokuetsu Kishu Paper Co., Ltd.
Tokushu Tokai Paper Co., Ltd.
52,085
79,021
83,061
127,747
415,853
1,598,268
Total Multiline Retail
Oil, Gas & Consumable Fuels – 0.8%
Itochu Enex Co., Ltd.
Nippon Coke & Engineering Co., Ltd.
Nippon Gas Co., Ltd.
San-Ai Oil Co., Ltd.
Sinanen Co., Ltd.
Value
$
51,073
91,897
412,021
248,803
186,571
125,057
38,005
192,842
264,301
112,473
284,158
77,339
2,084,540
13,000
8,900
5,200
369,860
69,568
138,249
577,677
Schedule of Investments (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
March 31, 2014
Investments
Real Estate Management & Development – 1.0%
Airport Facilities Co., Ltd.
DAIBIRU Corp.
Daikyo, Inc.
Heiwa Real Estate Co., Ltd.
Jowa Holdings Co., Ltd.
Relo Holdings, Inc.
Tokyu Fudosan Holdings Corp.
Shares
13,000
13,000
46,000
5,200
4,600
2,748
7,700
Total Real Estate Management & Development
Road & Rail – 2.8%
Fukuyama Transporting Co., Ltd.
Hitachi Transport System, Ltd.
Ichinen Holdings Co., Ltd.
Maruzen Showa Unyu Co., Ltd.
Nankai Electric Railway Co., Ltd.
Nippon Konpo Unyu Soko Co., Ltd.
Nishi-Nippon Railroad Co., Ltd.
Sankyu, Inc.
Seino Holdings Co., Ltd.
Senko Co., Ltd.
Sotetsu Holdings, Inc.
48,000
13,900
7,300
26,000
55,838
15,600
52,000
53,000
25,000
30,000
61,000
288,974
226,212
55,432
87,857
216,878
275,539
196,922
199,165
238,627
130,504
223,897
Investments
Shares
Keiyo Co., Ltd.
Kohnan Shoji Co., Ltd.
Komeri Co., Ltd.
Konaka Co., Ltd.
K’s Holdings Corp.
Kyoto Kimono Yuzen Co., Ltd.
NAFCO Co., Ltd.
Nishimatsuya Chain Co., Ltd.
Pal Co., Ltd.
RIGHT ON Co., Ltd.
Shimachu Co., Ltd.
T-Gaia Corp.
United Arrows Ltd.
VT HOLDINGS Co., Ltd.
Xebio Co., Ltd.
Yellow Hat Ltd.
13,000
8,200
5,400
7,800
9,600
8,200
2,600
4,900
2,800
7,800
10,700
26,400
5,200
17,354
7,800
4,700
Total Specialty Retail
Technology Hardware, Storage &
Peripherals – 0.7%
Melco Holdings, Inc.
Riso Kagaku Corp.
Roland DG Corp.
Toshiba TEC Corp.
98,461
58,673
89,295
69,604
106,326
131,660
77,631
631,650
15,200
5,200
4,700
11,400
22,600
12,600
288,990
91,190
100,266
62,101
466,330
90,904
1,099,781
5,140
7,800
13,200
12,500
2,748
26,000
7,800
27,900
34,100
12,600
6,340
128,469
141,178
187,903
328,931
52,433
401,418
169,429
186,930
190,392
98,001
61,501
Textiles, Apparel & Luxury Goods – 2.1%
Fujibo Holdings, Inc.
Gunze Ltd.
Japan Vilene Co., Ltd.
Japan Wool Textile Co., Ltd. (The)
Kurabo Industries Ltd.
Onward Holdings Co., Ltd.
Sanyo Shokai Ltd.
Seiko Holdings Corp.
Seiren Co., Ltd.
Wacoal Holdings Corp.
Yondoshi Holdings, Inc.
5,200
4,882
2,600
39,000
59,077
83,206
147,185
54,305
267,441
80,658
38,374
35,637
53,915
52,336
233,772
238,660
192,882
95,882
135,952
94,105
76,547
121,025
103,131
222,294
522,997
26,000
72,000
18,000
23,000
73,000
44,000
39,000
7,000
13,000
32,000
2,900
Total Textiles, Apparel & Luxury Goods
Trading Companies & Distributors – 3.6%
ADVAN Co., Ltd.
Daiichi Jitsugyo Co., Ltd.
Hanwa Co., Ltd.
Inaba Denki Sangyo Co., Ltd.
Inabata & Co., Ltd.
Iwatani Corp.
Kamei Corp.
Kanamoto Co., Ltd.
Kuroda Electric Co., Ltd.
Mitani Corp.
Mitsui Matsushima Co., Ltd.
Nagase & Co., Ltd.
Nippon Steel & Sumikin Bussan Corp.
Onoken Co., Ltd.
Shinsho Corp.
Value
$
3,809,972
Total Technology Hardware, Storage & Peripherals
6,000
5,200
7,600
7,800
15,000
18,200
4,400
Total Software
Specialty Retail – 5.0%
Adastria Holdings Co., Ltd
Alpen Co., Ltd.
AOKI Holdings, Inc.
Aoyama Trading Co., Ltd.
Arcland Sakamoto Co., Ltd.
AUTOBACS SEVEN Co., Ltd.
Chiyoda Co., Ltd.
DCM Holdings Co., Ltd.
EDION Corp.
Gulliver International Co., Ltd.
Honeys Co., Ltd.
96,189
138,855
92,460
83,212
152,090
150,228
57,572
2,140,007
Total Semiconductors & Semiconductor Equipment
Software – 1.5%
Capcom Co., Ltd.
DTS Corp.
Fuji Soft, Inc.
MTI Ltd.
SQUARE ENIX HOLDINGS Co., Ltd.
Systena Corp.
$
770,606
Total Road & Rail
Semiconductors & Semiconductor
Equipment – 0.8%
Axell Corp.
Lasertec Corp.
MegaChips Corp.
Mimasu Semiconductor Industry Co., Ltd.
Sanken Electric Co., Ltd.
Shinko Electric Industries Co., Ltd.
Tokyo Seimitsu Co., Ltd.
Value
68,418
191,562
102,073
178,667
131,844
305,481
113,988
27,936
107,171
327,193
49,927
1,604,260
5,800
21,000
56,000
8,800
15,400
44,000
5,800
2,200
6,600
4,900
44,527
20,800
92,960
7,800
26,000
67,752
93,596
217,507
283,692
157,312
287,964
43,422
64,514
107,089
109,434
68,746
257,513
298,779
93,538
53,270
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 133
Schedule of Investments (concluded)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
March 31, 2014
Investments
Shares
Trusco Nakayama Corp.
Wakita & Co., Ltd.
Yamazen Corp.
Yuasa Trading Co., Ltd.
5,200
9,745
18,200
77,000
Value
$
Total Trading Companies & Distributors
Transportation Infrastructure – 0.5%
Japan Airport Terminal Co., Ltd.
Nissin Corp.
Sumitomo Warehouse Co., Ltd. (The)
2,716,536
7,100
26,000
27,000
184,834
74,224
131,874
Total Transportation Infrastructure
390,932
TOTAL INVESTMENTS IN SECURITIES – 98.6%
(Cost: $75,591,485)
Cash, Foreign Currency and Other Assets in Excess of
Liabilities – 1.4%
NET ASSETS – 100.0%
*
120,274
114,024
120,349
157,761
74,581,515
1,032,248
$75,613,763
Non-income producing security.
See Notes to Financial Statements.
134 WisdomTree International Dividend and Sector Funds
Schedule of Investments
WisdomTree Emerging Markets Dividend Growth Fund (DGRE)
March 31, 2014
Investments
COMMON STOCKS – 97.0%
Brazil – 14.9%
Ambev S.A.
CCR S.A.
Cia de Saneamento Basico do Estado de Sao Paulo
Cia Hering
Cielo S.A.
EcoRodovias Infraestrutura e Logistica S.A.
Itau Unibanco Holding S.A.
Localiza Rent a Car S.A.
Lojas Renner S.A.
M Dias Branco S.A.
Marisa Lojas S.A.
Odontoprev S.A.
Petroleo Brasileiro S.A.
Souza Cruz S.A.
Tegma Gestao Logistica
Ultrapar Participacoes S.A.
WEG S.A.
Shares
120,002
28,800
2,700
4,000
11,900
4,000
22,400
800
1,700
800
1,600
8,800
63,900
27,200
1,600
5,600
7,200
Total Brazil
Chile – 0.6%
CFR Pharmaceuticals S.A.
SACI Falabella
8,108
111,107
119,215
32,000
18,894
16,000
132,000
80,000
22,400
784,000
12,000
416,000
16,000
37,086
132,390
80,237
79,989
362,839
60,177
453,162
132,628
24,000
7,200
16,000
16,000
8,000
27,351
16,373
43,831
15,594
26,969
32,000
22,277
1,509,797
3,353
980
2,430
Total India
Indonesia – 12.4%
PT AKR Corporindo Tbk
PT Astra Agro Lestari Tbk
PT Astra International Tbk
901,411
222,334
25,247
48,535
381,338
24,108
316,965
11,770
48,382
32,404
10,920
35,177
423,640
248,314
13,536
136,271
101,148
Investments
Shares
PT Bank Central Asia Tbk
PT Bank Mandiri Persero Tbk
PT Bank Negara Indonesia Persero Tbk
PT Bank Rakyat Indonesia Persero Tbk*
PT Gudang Garam Tbk
PT Harum Energy Tbk
PT Indocement Tunggal Prakarsa Tbk
PT Indofood CBP Sukses Makmur Tbk
PT Jasa Marga Persero Tbk
PT Kalbe Farma Tbk
PT Media Nusantara Citra Tbk
PT Perusahaan Gas Negara Persero Tbk
PT Perusahaan Perkebunan London Sumatra
Indonesia Tbk
PT Semen Indonesia Persero Tbk
PT Surya Citra Media Tbk
PT Tambang Batubara Bukit Asam Persero Tbk
PT Telekomunikasi Indonesia Persero Tbk
PT Unilever Indonesia Tbk
PT United Tractors Tbk
132,000
227,400
228,000
335,500
16,000
104,000
40,000
36,000
52,000
335,500
80,000
407,500
140,000
120,000
120,000
60,000
1,500,500
68,000
64,000
Total Indonesia
40,558
12,680
Total China
India – 1.2%
Infosys Ltd. ADR
Tata Motors Ltd. ADR
Wipro Ltd. ADR
$
2,981,500
Total Chile
China – 7.6%
Air China Ltd. Class H
China International Marine Containers Group Co.,
Ltd. Class H
China Minsheng Banking Corp., Ltd. Class H
China National Building Material Co., Ltd. Class H
China Pacific Insurance Group Co., Ltd. Class H
China Telecom Corp., Ltd. Class H
Great Wall Motor Co., Ltd. Class H
PetroChina Co., Ltd. Class H
Ping An Insurance Group Co. of China Ltd. Class H
Shandong Weigao Group Medical Polymer Co., Ltd.
Class H
Shanghai Pharmaceuticals Holding Co., Ltd. Class H
Sinopharm Group Co., Ltd. Class H
Wumart Stores, Inc. Class H
Zhuzhou CSR Times Electric Co., Ltd. Class H
Zoomlion Heavy Industry Science and Technology
Co., Ltd. Class H
Value
181,665
34,702
32,562
248,929
Malaysia – 2.7%
AirAsia Bhd
Berjaya Sports Toto Bhd
British American Tobacco Malaysia Bhd
Carlsberg Brewery Malaysia Bhd
Dialog Group Bhd
DRB-Hicom Bhd
Gamuda Bhd
Hartalega Holdings Bhd
Kuala Lumpur Kepong Bhd
Malaysia Marine and Heavy Engineering
Holdings Bhd
Nestle (Malaysia) Bhd
Tan Chong Motor Holdings Bhd
Top Glove Corp. Bhd
UOA Development Bhd
11,917
54,930
384,006
27,236
166,902
33,803
49,252
292,571
175,088
116,901
25,600
30,400
5,600
7,200
15,200
17,600
27,200
6,400
16,000
19,991
36,958
101,385
28,707
16,711
13,312
39,232
13,425
118,573
23,200
4,000
7,200
6,400
18,600
26,713
81,678
12,193
9,702
12,360
530,940
5,600
454,900
11,200
24,000
10,400
20,385
451,109
66,932
223,672
28,087
91,100
116,900
43,200
167,100
223,338
369,368
115,741
396,724
Total Mexico
28,000
24,000
591,500
123,169
189,166
99,549
282,783
69,578
20,003
82,306
32,007
27,465
43,267
18,521
183,841
2,484,261
Total Malaysia
Mexico – 9.5%
Alsea S.A.B de C.V.
America Movil S.A.B de C.V. Series L
Arca Continental S.A.B de C.V.
Fomento Economico Mexicano S.A.B de C.V.
Grupo Bimbo S.A.B de C.V. Series A
Grupo Financiero Santander Mexico S.A.B de C.V.
Class B
Grupo Mexico S.A.B. de C.V. Series B
Kimberly-Clark de Mexico S.A.B de C.V. Class A
Wal-Mart de Mexico S.A.B de C.V. Series V
Value
$
1,895,356
Philippines – 2.2%
Aboitiz Power Corp.
Ayala Land, Inc.
167,100
49,700
138,614
33,137
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 135
Schedule of Investments (concluded)
WisdomTree Emerging Markets Dividend Growth Fund (DGRE)
March 31, 2014
Investments
Jollibee Foods Corp.
Manila Water Co., Inc.
Semirara Mining Corp.
SM Investments Corp.
SM Prime Holdings, Inc.
Universal Robina Corp.
Shares
5,430
19,200
7,430
3,800
130,300
21,190
Value
$
Total Philippines
Russia – 11.3%
LSR Group OJSC GDR*
Magnit OJSC Reg S GDR
MegaFon OAO GDR
MMC Norilsk Nickel OJSC ADR
NovaTek OAO Reg S GDR
Uralkali OJSC Reg S GDR
439,876
6,144
1,683
17,996
67,484
2,423
10,860
16,896
92,228
506,587
1,122,259
266,530
257,708
Total Russia
South Africa – 14.3%
Adcock Ingram Holdings Ltd.
AVI Ltd.
Bidvest Group Ltd.
Capitec Bank Holdings Ltd.
Clicks Group Ltd.
FirstRand Ltd.
Foschini Group Ltd. (The)
Imperial Holdings Ltd.
Kumba Iron Ore Ltd.
Life Healthcare Group Holdings Ltd.
Massmart Holdings Ltd.
Mr. Price Group Ltd.
MTN Group Ltd.
Oceana Group Ltd.
Pick n Pay Stores Ltd.
Shoprite Holdings Ltd.
Spar Group Ltd. (The)
Tiger Brands Ltd.
Truworths International Ltd.
Vodacom Group Ltd.
Woolworths Holdings Ltd.
2,262,208
1,731
5,551
4,071
1,119
2,777
96,073
5,551
3,503
10,255
13,072
2,527
3,431
36,454
1,671
5,319
4,519
3,159
2,487
8,784
49,268
12,560
9,710
29,835
107,760
20,693
17,307
329,746
56,550
62,780
368,552
47,861
33,035
51,348
747,075
14,386
26,095
68,400
36,498
64,379
64,515
608,900
87,627
Total South Africa
South Korea – 1.1%
Coway Co., Ltd.
Grand Korea Leisure Co., Ltd.
Huchems Fine Chemical Corp.
Iljin Display Co., Ltd.
KEPCO Plant Service & Engineering Co., Ltd.
OCI Materials Co., Ltd.
2,853,052
759
1,120
1,440
1,320
655
647
53,265
46,033
29,153
19,717
41,720
22,429
Total South Korea
Taiwan – 6.9%
President Chain Store Corp.
Richtek Technology Corp.
Taiwan Semiconductor Manufacturing Co., Ltd.
20,705
10,233
67,930
59,739
42,421
67,097
212,317
8,000
8,000
325,000
56,482
47,681
1,264,674
Total Taiwan
1,368,837
Investments
Thailand – 10.4%
Advanced Info Service PCL NVDR
Bangkok Dusit Medical Services PCL NVDR
BEC World PCL NVDR
Bumrungrad Hospital PCL NVDR
Central Pattana PCL NVDR
Charoen Pokphand Foods PCL NVDR
CP ALL PCL NVDR
Hemaraj Land And Development PCL NVDR
Indorama Ventures PCL NVDR
Kasikornbank PCL NVDR
L.P.N. Development PCL NVDR
Land and Houses PCL NVDR
Major Cineplex Group PCL NVDR
Minor International PCL NVDR
Quality Houses PCL NVDR
Shin Corp. PCL NVDR
Siam Cement PCL (The) NVDR
Siam City Cement PCL NVDR
Siam Commercial Bank PCL NVDR
Sri Trang Agro-Industry PCL NVDR
Thai Oil PCL NVDR
Thai Stanley Electric PCL NVDR
VGI Global Media PCL NVDR
54,400
12,800
42,400
15,200
33,600
142,300
112,100
283,900
86,800
28,600
43,200
186,300
51,100
48,000
269,500
78,500
16,200
3,400
38,500
71,100
51,200
3,400
74,984
Total Thailand
Turkey – 1.9%
Anadolu Efes Biracilik ve Malt Sanayii A.S.
Aselsan Elektronik Sanayi ve Ticaret A.S.
BIM Birlesik Magazalar A.S.
Coca-Cola Icecek A.S.
Koza Altin Isletmeleri A.S.
TAV Havalimanlari Holding A.S.
Turk Hava Yollari
Turk Traktor ve Ziraat Makineleri A.S.
Ulker Biskuvi Sanayi A.S.
Yapi ve Kredi Bankasi A.S.
4,511
4,351
2,551
751
2,751
5,895
10,968
1,407
5,143
29,427
TOTAL INVESTMENTS IN SECURITIES – 99.6%
(Cost: $19,651,924)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.4%
NET ASSETS – 100.0%
ADR – American Depositary Receipt
ETN – Exchange-Traded Note
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
$
378,989
52,478
71,233
45,099
48,681
122,824
150,319
27,305
61,274
156,930
21,307
55,132
29,771
36,695
25,089
186,933
208,742
36,264
186,922
33,534
83,650
21,276
26,351
50,188
17,512
57,478
18,080
23,855
47,398
33,788
36,175
36,183
55,850
376,507
TOTAL COMMON STOCKS
(Cost: $19,218,737)
EXCHANGE-TRADED NOTE – 2.6%
United States – 2.6%
iPath MSCI India Index ETN*
(Cost: $433,187)
Value
2,066,798
Total Turkey
See Notes to Financial Statements.
136 WisdomTree International Dividend and Sector Funds
Shares
19,349,593
8,437
511,535
19,861,128
78,346
$19,939,474
Schedule of Investments
WisdomTree Emerging Markets Consumer Growth Fund (EMCG)
March 31, 2014
Investments
COMMON STOCKS – 97.5%
Brazil – 13.9%
AES Tiete S.A.
Ambev S.A.
Arezzo Industria e Comercio S.A.
BR Malls Participacoes S.A.
Cia de Saneamento Basico do Estado de Sao Paulo
Cia Hering
Cyrela Brazil Realty S.A. Empreendimentos e
Participacoes
Direcional Engenharia S.A.
EcoRodovias Infraestrutura e Logistica S.A.
Estacio Participacoes S.A.
Even Construtora e Incorporadora S.A.
Grendene S.A.
Helbor Empreendimentos S.A.
Lojas Americanas S.A.
Lojas Renner S.A.
M Dias Branco S.A.
Marisa Lojas S.A.
MRV Engenharia e Participacoes S.A.
Natura Cosmeticos S.A.
Rodobens Negocios Imobiliarios S.A.
Santos Brasil Participacoes S.A.
Sonae Sierra Brasil S.A.
Souza Cruz S.A.
Sul America S.A.
Technos S.A.
Shares
10,400
88,242
1,600
33,000
20,000
4,000
16,000
8,800
6,400
3,200
12,800
8,800
13,600
12,800
2,400
2,400
4,800
30,400
8,800
3,200
2,400
12,500
27,200
22,500
1,600
Total Brazil
Chile – 0.4%
Empresas Hites S.A.
ENTEL Chile S.A.
Forus S.A.
$
72,821
662,842
19,499
286,346
187,015
48,535
96,858
39,038
38,573
32,418
43,111
60,526
47,794
80,776
68,304
97,212
32,759
108,990
148,662
16,734
17,815
104,476
248,314
151,064
10,636
2,721,118
16,336
3,929
5,390
Total Chile
China – 17.9%
Air China Ltd. Class H
China Eastern Airlines Corp., Ltd. Class H*
China Southern Airlines Co., Ltd. Class H
Chongqing Rural Commercial Bank Co., Ltd. Class H
Datang International Power Generation Co., Ltd.
Class H
Dongfeng Motor Group Co., Ltd. Class H
Great Wall Motor Co., Ltd. Class H
Guangzhou Automobile Group Co., Ltd. Class H
Guangzhou R&F Properties Co., Ltd. Class H
Huadian Power International Corp., Ltd. Class H
Huaneng Power International, Inc. Class H
Jiangsu Expressway Co., Ltd. Class H
Lianhua Supermarket Holdings Co., Ltd. Class H
New China Life Insurance Co., Ltd. Class H*
PICC Property & Casualty Co., Ltd. Class H
Ping An Insurance Group Co. of China Ltd. Class H
Shandong Weigao Group Medical Polymer Co., Ltd.
Class H
Value
9,758
47,818
23,850
81,426
224,000
304,000
224,000
380,000
132,256
101,111
72,770
166,558
288,000
368,000
68,000
64,000
102,400
96,000
160,000
64,000
40,000
32,000
272,000
93,000
105,071
520,899
341,006
67,242
147,586
46,657
153,048
72,935
22,741
96,738
372,389
770,899
32,000
36,467
Investments
Shares
Shanghai Fosun Pharmaceutical Group Co., Ltd.
Class H
Shanghai Pharmaceuticals Holding Co., Ltd.
Class H
Tsingtao Brewery Co., Ltd. Class H
Wumart Stores, Inc. Class H
28,978
33,200
12,000
24,000
Total China
Value
$
100,864
75,499
87,791
23,390
3,513,917
India – 7.3%
Adani Enterprises Ltd.
Apollo Tyres Ltd.
Bajaj Auto Ltd.
Bank of Baroda
Dena Bank Ltd.
Hero MotoCorp Ltd.
Hindustan Unilever Ltd.
Mahindra & Mahindra Ltd. GDR
Sun TV Network Ltd.
Tata Motors Ltd. ADR
Zee Entertainment Enterprises Ltd.
1,851
30,500
1,400
5,726
21,000
700
24,700
19,890
6,600
14,727
9,500
Total India
11,406
81,507
48,843
69,103
21,273
26,663
250,443
324,207
44,398
521,483
43,163
1,442,489
Indonesia – 9.1%
PT ACE Hardware Indonesia Tbk
PT Agung Podomoro Land Tbk
PT Alam Sutera Realty Tbk
PT Astra International Tbk
PT Bank Bukopin Tbk
PT Bank Pan Indonesia Tbk*
PT Bank Pembangunan Daerah Jawa Barat Dan
Banten Tbk
PT Bank Tabungan Negara Persero Tbk
PT Gajah Tunggal Tbk
PT Garuda Indonesia Persero Tbk*
PT Gudang Garam Tbk
PT Indofood CBP Sukses Makmur Tbk
PT Indofood Sukses Makmur Tbk
PT Japfa Comfeed Indonesia Tbk
PT Mayora Indah Tbk
PT Media Nusantara Citra Tbk
PT Mitra Adiperkasa Tbk
PT Pakuwon Jati Tbk
PT Panin Financial Tbk*
PT Ramayana Lestari Sentosa Tbk
PT Summarecon Agung Tbk
PT Surya Citra Media Tbk
PT Tiga Pilar Sejahtera Food Tbk
PT Unilever Indonesia Tbk
PT XL Axiata Tbk
279,000
629,500
363,500
1,138,000
263,000
339,500
18,420
15,682
19,039
738,798
14,817
22,414
235,000
235,000
178,500
502,992
40,000
76,000
198,000
335,000
14,500
219,000
32,000
469,000
1,102,000
145,000
174,000
136,000
100,614
64,000
128,000
21,618
26,582
33,390
22,006
173,944
67,571
127,236
41,580
38,292
50,701
17,606
14,450
25,222
17,742
16,312
38,310
18,245
164,789
49,577
Total Indonesia
Malaysia – 4.4%
AirAsia Bhd
Berjaya Sports Toto Bhd
British American Tobacco Malaysia Bhd
Carlsberg Brewery Malaysia Bhd
1,794,343
119,500
33,200
3,800
5,600
93,316
40,363
68,797
22,328
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 137
Schedule of Investments (continued)
WisdomTree Emerging Markets Consumer Growth Fund (EMCG)
March 31, 2014
Investments
DRB-Hicom Bhd
Dutch Lady Milk Industries Bhd
Fraser & Neave Holdings Bhd
Genting Malaysia Bhd
Guinness Anchor Bhd
Kulim (Malaysia) Bhd*
MBM Resources Bhd
Media Prima Bhd
Nestle (Malaysia) Bhd
Padini Holdings Bhd
Parkson Holdings Bhd
Star Publications Malaysia Bhd
UMW Holdings Bhd
UOA Development Bhd
Shares
87,900
1,600
8,000
124,300
5,600
51,000
18,400
32,200
2,300
26,400
41,300
29,600
27,200
22,400
Value
$
Total Malaysia
Mexico – 10.1%
America Movil S.A.B de C.V. Series L
Arca Continental S.A.B de C.V.
Controladora Comercial Mexicana S.A.B de C.V.
Fomento Economico Mexicano S.A.B de C.V.
Genomma Lab Internacional S.A.B de C.V. Class B*
Grupo Televisa S.A.B Series CPO
Kimberly-Clark de Mexico S.A.B de C.V. Class A
Megacable Holdings S.A.B de C.V.
TV Azteca S.A.B de C.V.
864,903
631,900
18,400
42,100
55,800
8,000
43,700
36,400
17,716
128,300
626,634
109,959
175,095
520,038
20,581
291,595
97,522
71,957
78,364
Total Mexico
Philippines – 2.1%
Aboitiz Equity Ventures, Inc.
Aboitiz Power Corp.
Cebu Air, Inc.
First Philippine Holdings Corp.
Lopez Holdings Corp.
Security Bank Corp.
Universal Robina Corp.
1,991,745
74,200
128,300
16,800
21,790
390,500
12,018
26,920
92,657
106,428
17,963
35,228
40,491
28,407
85,241
Total Philippines
Poland – 0.4%
Cyfrowy Polsat S.A.*
Eurocash S.A.
406,415
9,505
1,395
67,259
18,464
Total Poland
Russia – 1.6%
Magnit OJSC GDR Reg S
OTCPharm*
Pharmstandard OJSC GDR*
85,723
5,038
4,033
4,033
276,083
1,371
35,087
Total Russia
South Africa – 12.4%
African Bank Investments Ltd.
Capitec Bank Holdings Ltd.
Cashbuild Ltd.
Clicks Group Ltd.
Clover Industries Ltd.
FirstRand Ltd.
Foschini Group Ltd. (The)
66,487
23,215
44,146
159,871
24,146
52,476
18,313
23,271
46,965
15,441
37,942
21,483
91,458
14,885
312,541
63,152
1,803
1,651
6,362
10,245
106,836
7,796
64,546
33,341
21,348
39,649
18,819
366,687
79,421
Investments
Shares
Illovo Sugar Ltd.
Imperial Holdings Ltd.
Lewis Group Ltd.
Life Healthcare Group Holdings Ltd.
Massmart Holdings Ltd.
Mr. Price Group Ltd.
MTN Group Ltd.
Oceana Group Ltd.
Pick n Pay Holdings Ltd.
Pick n Pay Stores Ltd.
Shoprite Holdings Ltd.
Spar Group Ltd. (The)
Sun International Ltd.
Super Group Ltd.*
Tiger Brands Ltd.
Truworths International Ltd.
Vodacom Group Ltd.
Woolworths Holdings Ltd.
14,363
6,855
7,475
10,059
3,489
5,150
24,237
2,777
25,802
7,347
8,749
4,742
3,553
11,631
3,993
12,479
23,329
14,587
Total South Africa
South Korea – 5.3%
Able C&C Co., Ltd.
Grand Korea Leisure Co., Ltd.
GS Home Shopping, Inc.
Handsome Co., Ltd.
Kangwon Land, Inc.
KT&G Corp.
LG Fashion Corp.
LG Household & Health Care Ltd.
LG International Corp.
LIG Insurance Co., Ltd.
Muhak Co., Ltd.*
Shinsegae Co., Ltd.
SK Telecom Co., Ltd.
See Notes to Financial Statements.
138 WisdomTree International Dividend and Sector Funds
455
1,680
192
1,040
4,040
3,905
1,200
160
1,840
1,280
1,153
240
1,095
14,020
69,050
42,749
25,793
117,657
293,485
31,453
69,069
48,746
37,638
25,347
51,971
221,685
1,048,663
64,000
8,000
24,796
70,500
8,000
8,000
Total Taiwan
Thailand – 4.4%
Advanced Info Service PCL NVDR
AP Thailand PCL NVDR
BEC World PCL NVDR
Big C Supercenter PCL NVDR
Bumrungrad Hospital PCL NVDR
CP ALL PCL NVDR
DSG International Thailand PCL NVDR
Electricity Generating PCL NVDR
Hemaraj Land and Development PCL NVDR
Home Product Center PCL NVDR
38,250
122,854
41,220
36,830
45,612
77,074
496,704
23,907
55,122
36,044
132,426
54,787
31,892
31,793
103,364
91,654
288,322
101,769
2,433,435
Total South Korea
Taiwan – 2.3%
Cheng Shin Rubber Industry Co., Ltd.
E-LIFE MALL Corp.
Farglory Land Development Co., Ltd.
Hey Song Corp.
Standard Foods Corp.
Yulon Nissan Motor Co., Ltd.
Value
$
182,632
16,760
42,260
76,282
21,804
101,404
441,142
23,200
88,700
28,800
12,000
7,200
116,100
41,400
16,000
148,300
87,816
161,628
14,218
48,385
67,879
21,362
155,683
14,038
64,612
14,263
26,393
Schedule of Investments (concluded)
WisdomTree Emerging Markets Consumer Growth Fund (EMCG)
March 31, 2014
Investments
LPN Development PCL NVDR
MCOT PCL NVDR
Pruksa Real Estate PCL NVDR
Quality Houses PCL NVDR
Robinson Department Store PCL NVDR
Sansiri PCL NVDR
Siam Future Development PCL NVDR
Supalai PCL NVDR
Thai Airways International PCL NVDR*
Thai Union Frozen Products PCL NVDR
Thai Vegetable Oil PCL NVDR
Shares
24,000
19,200
35,600
149,100
18,400
217,900
59,175
35,600
59,000
37,200
48,600
Total Thailand
Turkey – 5.9%
Albaraka Turk Katilim Bankasi A.S.*
Anadolu Efes Biracilik ve Malt Sanayii A.S.
BIM Birlesik Magazalar A.S.
Dogan Yayin Holding A.S.*
Dogus Otomotiv Servis ve Ticaret A.S.
Emlak Konut Gayrimenkul Yatirim Ortakligi A.S.
Ford Otomotiv Sanayi A.S.
Goodyear Lastikleri TAS A.S.
Ipek Dogal Enerji Kaynaklari ve Uretim A.S.*
NET Holding A.S.
Tofas Turk Otomobil Fabrikasi A.S.
Turk Telekomunikasyon A.S.
Turkiye Halk Bankasi A.S.
Ulker Biskuvi Sanayi A.S.
Yapi ve Kredi Bankasi A.S.
19,387
9,151
3,121
115,351
8,581
27,560
9,239
510
4,001
18,298
13,780
79,369
36,808
5,798
95,512
TOTAL INVESTMENTS IN SECURITIES – 99.6%
(Cost: $19,363,793)
Cash, Foreign Currency and Other Assets in Excess
of Liabilities – 0.4%
NET ASSETS – 100.0%
13,866
101,811
70,322
26,961
31,649
32,466
94,368
12,802
4,545
19,845
78,266
220,758
227,985
40,791
181,273
1,157,708
TOTAL COMMON STOCKS
(Cost: $19,011,774)
EXCHANGE-TRADED NOTES – 2.1%
United States – 2.1%
iPath MSCI India Index ETN*
(Cost: $348,800)
11,837
17,312
22,278
13,881
29,920
12,695
10,124
19,534
25,462
78,838
34,008
864,350
Total Turkey
PREFERRED STOCKS – 0.0%
India – 0.0%
Zee Entertainment Enterprises Ltd.
(Cost: $3,219)
Value
$
19,159,918
199,500
2,372
6,600
400,158
19,562,448
85,039
$19,647,487
ADR – American Depositary Receipt
ETN – Exchange Traded Note
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
*
Non-income producing security.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 139
Schedule of Investments
WisdomTree Germany Hedged Equity Fund (DXGE)
March 31, 2014
Investments
COMMON STOCKS – 99.8%
Germany – 99.8%
Aerospace & Defense – 0.6%
MTU Aero Engines AG
Shares
Value
Industrial Conglomerates – 6.5%
Rheinmetall AG
Siemens AG
657
$
61,086
Air Freight & Logistics – 3.7%
Deutsche Post AG
9,327
346,698
Auto Components – 3.9%
Continental AG
ElringKlinger AG
Leoni AG
1,147
205
1,229
274,910
8,084
89,724
Total Auto Components
Automobiles – 15.9%
Bayerische Motoren Werke AG
Daimler AG
Volkswagen AG
372,718
4,261
6,366
1,411
538,059
601,804
357,827
Total Automobiles
1,497,690
Capital Markets – 2.2%
Deutsche Bank AG
4,619
206,740
Chemicals – 9.5%
BASF SE
Fuchs Petrolub SE
K+S AG
LANXESS AG
Linde AG
Symrise AG
Wacker Chemie AG
4,025
166
2,837
1,019
863
1,645
104
447,569
14,638
93,236
76,893
172,705
82,209
12,704
Total Chemicals
Commercial Services & Supplies – 1.1%
Bilfinger SE
Construction & Engineering – 1.0%
Hochtief AG
899,954
104,458
1,021
92,734
1,011
86,684
2,203
175,406
Diversified Telecommunication – 5.8%
Deutsche Telekom AG
33,736
545,405
2,387
68,018
Health Care Providers & Services – 3.3%
Celesio AG
Fresenius Medical Care AG & Co. KGaA
Fresenius SE & Co. KGaA
Total Industrial Conglomerates
Insurance – 10.0%
Allianz SE
Muenchener Rueckversicherungs-Gesellschaft AG
Talanx AG
2,584
1,766
3,305
Total Insurance
6,741
2,658
1,461
764
90,888
101,990
119,619
312,497
128,695
436,983
386,031
118,934
345
7,608
IT Services – 0.2%
Bechtle AG
Wirecard AG
120
107
10,342
4,442
Total IT Services
Life Sciences Tools & Services – 0.1%
Gerresheimer AG
Machinery – 2.5%
DMG MORI SEIKI AG
Duerr AG
GEA Group AG
Krones AG
KUKA AG
MAN SE
Norma Group SE
Pfeiffer Vacuum Technology AG
Wacker Neuson SE
Media – 1.5%
Axel Springer SE
CTS Eventim AG
Metals & Mining – 0.7%
Aurubis AG
Salzgitter AG
Multi-Utilities – 8.6%
E.ON SE
RWE AG
14,784
90
5,827
247
159
1,949
83
48
750
149
81
401
7,570
12,272
89,128
7,930
2,350
95,616
7,899
9,899
6,922
239,586
2,009
179
128,629
11,941
140,570
1,075
109
58,413
4,310
62,723
22,783
9,155
445,575
371,723
817,298
Personal Products – 1.0%
Beiersdorf AG
1,021
99,629
Pharmaceuticals – 6.6%
Bayer AG
Merck KGaA
Stada Arzneimittel AG
3,533
817
177
478,074
137,657
7,578
Semiconductors & Semiconductor – 0.1%
SMA Solar Technology AG
See Notes to Financial Statements.
140 WisdomTree International Dividend and Sector Funds
95,056
518,018
941,948
Total Pharmaceuticals
1,280
$
Internet & Catalog Retail – 0.1%
Takkt AG
Total Multi-Utilities
240
Value
613,074
Total Metals & Mining
Total Health Care Providers & Services
Household Products – 1.4%
Henkel AG & Co. KGaA
1,351
3,847
Total Media
Diversified Financial Services – 1.9%
Deutsche Boerse AG
Health Care Equipment & Supplies – 0.1%
Carl Zeiss Meditec AG
Shares
Total Machinery
823
Construction Materials – 0.9%
HeidelbergCement AG
Food Products – 0.7%
Suedzucker AG
Investments
623,309
156
8,278
Schedule of Investments (concluded)
WisdomTree Germany Hedged Equity Fund (DXGE)
March 31, 2014
Investments
Shares
Value
Semiconductors & Semiconductor Equipment – 1.1%
Infineon Technologies AG
8,938
$ 106,705
Software – 3.4%
SAP AG
Software AG
3,797
345
307,503
12,501
Total Software
320,004
Speciality Retail – 1.0%
Fielmann AG
691
92,885
Technology Hardware, Storage & Peripherals – 0.1%
Wincor Nixdorf AG
162
11,644
1,061
225
921
114,851
11,130
122,595
Textiles, Apparel & Luxury Goods – 2.6%
Adidas AG
Gerry Weber International AG
Hugo Boss AG
Total Textiles, Apparel & Luxury Goods
Trading Companies & Distributors – 1.0%
BayWa AG
Brenntag AG
248,576
114
502
Total Trading Companies & Distributors
Transportation Infrastructure – 0.7%
Hamburger Hafen und Logistik AG
TOTAL INVESTMENTS IN SECURITIES – 99.8%
(Cost: $8,820,996)
Cash, Foreign Currency and Other Assets in Excess of
Liabilities – 0.2%
NET ASSETS – 100.0%
6,485
93,162
99,647
2,677
64,365
9,423,984
18,870
$9,442,854
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 141
Schedule of Investments
WisdomTree Korea Hedged Equity Fund (DXKW)
March 31, 2014
Investments
COMMON STOCKS – 100.0%
South Korea – 100.0%
Aerospace & Defense – 0.5%
Korea Aerospace Industries Ltd.
Shares
Value
1,430
$
45,609
Investments
Shares
Value
Industrial Conglomerates – 3.9%
SK Holdings Co., Ltd.
1,757
$ 318,569
Machinery – 3.0%
Hyundai Heavy Industries Co., Ltd.
1,248
247,384
1,910
42,975
6,014
1,411
388,711
392,368
Air Freight & Logistics – 3.1%
Hyundai Glovis Co., Ltd.
1,134
257,279
Media – 0.5%
Cheil Worldwide, Inc.*
Airlines – 2.0%
Korean Air Lines Co., Ltd.*
4,590
166,231
Auto Components – 9.3%
Halla Visteon Climate Control Corp.
Hyundai Mobis
Kumho Tire Co., Inc.*
Mando Corp.
Nexen Tire Corp.
Metals & Mining – 9.6%
Hyundai Steel Co.
POSCO
3,220
1,329
5,870
501
6,130
147,017
393,288
73,344
63,540
77,744
Total Auto Components
Automobiles – 9.9%
Hyundai Motor Co.
Kia Motors Corp.
754,933
1,748
7,071
412,183
393,922
Total Automobiles
Building Products – 0.4%
LG Hausys Ltd.
Chemicals – 9.7%
Kumho Petro Chemical Co., Ltd.
LG Chem Ltd.
Lotte Chemical Corp.
OCI Co., Ltd.*
SK Chemicals Co., Ltd.
806,105
30,920
488
1,661
1,642
209
478
40,252
396,349
290,005
34,852
28,246
789,704
3,301
410
4,280
468
268,868
13,539
225,168
28,886
Total Construction & Engineering
Diversified Financial Services – 0.8%
Hankook Tire Worldwide Co., Ltd.
Electrical Equipment – 0.8%
LS Industrial Systems Co., Ltd.
Electronic Equipment, Instruments &
Components – 5.5%
LG Display Co., Ltd.*
Samsung Electro-Mechanics Co., Ltd.
Samsung SDI Co., Ltd.
536,461
3,190
63,084
1,750
3,565
Total Oil, Gas & Consumable Fuels
Pharmaceuticals – 1.6%
Celltrion, Inc.*
992
62,626
3,170
4,504
482
79,365
293,229
72,903
406,880
3,238
133,846
893,272
369,656
516
105,677
Textiles, Apparel & Luxury Goods – 0.4%
Youngone Corp.
900
33,440
Tobacco – 4.7%
KT&G Corp.
5,061
380,365
Trading Companies & Distributors – 3.5%
Daewoo International Corp.
iMarketKorea, Inc.
LG International Corp.
Samsung C&T Corp.
980
790
4,360
1,845
35,630
24,380
115,507
106,944
Total Trading Companies & Distributors
TOTAL INVESTMENTS IN SECURITIES – 100.0%
(Cost: $8,090,598)
Cash and Other Assets in Excess of Liabilities – 0.0%
NET ASSETS – 100.0%
Non-income producing security.
141,552
52,512
Total Food Products
194,064
See Notes to Financial Statements.
142 WisdomTree International Dividend and Sector Funds
1,262,928
Software – 1.3%
NCsoft Corp.
445,497
525
1,370
200,573
206,307
Semiconductors & Semiconductor Equipment – 15.5%
Samsung Electronics Co., Ltd.
708
SK Hynix, Inc.*
10,930
*
Total Electronic Equipment, Instruments &
Components
Food Products – 2.4%
CJ CheilJedang Corp.
Daesang Corp.
Oil, Gas & Consumable Fuels – 5.0%
SK Innovation Co., Ltd.
S-Oil Corp.
781,079
Total Semiconductors & Semiconductor Equipment
207
Total Chemicals
Construction & Engineering – 6.6%
Daelim Industrial Co., Ltd.
Doosan Heavy Industries & Construction Co., Ltd.
Hyundai Engineering & Construction Co., Ltd.
KEPCO Engineering & Construction Co., Inc.
Total Metals & Mining
282,461
8,148,117
3,002
$8,151,119
Statements of Assets and Liabilities
WisdomTree International Dividend and Sector Funds
March 31, 2014
WisdomTree
Global ex-U.S.
Dividend
Growth Fund
WisdomTree
Japan SmallCap
Dividend Fund
$11,366,659,499
$ 55,634,292
$260,573,355
—
69,637
1,417,629
WisdomTree
DEFA Fund
WisdomTree
DEFA Equity
Income Fund
WisdomTree
Global Equity
Income Fund
WisdomTree
Europe SmallCap
Dividend Fund
WisdomTree
Japan Hedged
Equity Fund
$ 462,164,043
$252,525,181
$100,055,074
$1,287,399,983
524,128
83,587
—
3,377,818
ASSETS:
Investments, at cost
Investment in affiliates, at cost (Note 7)
Foreign currency, at cost
Investments in securities, at value
97,284
88,760
109,412
405,017
27,489,846
63,928
1,164,842
565,449,425
303,059,048
122,897,586
1,431,534,436
11,298,513,697
61,644,563
279,872,779
Investment in affiliates, at value (Note 7)
545,678
89,234
—
3,386,251
—
71,611
1,469,670
Cash
239,046
148,172
26,214
863,278
495,672
3,324
165,853
97,278
88,791
109,805
405,111
27,422,903
64,109
1,160,590
—
—
—
—
115,601,360
—
—
2,240,345
1,206,746
449,624
2,204,318
105,164,298
180,862
2,581,073
—
—
11,233
13,619,910
119,575,140
—
122,790
Foreign tax reclaims
848,606
310,837
105,172
133,379
7,498,193
80,358
171,086
Capital shares sold
—
—
—
16,060,467
—
—
—
569,420,378
304,902,828
123,599,634
1,468,207,150
11,674,271,263
62,044,827
285,543,841
—
—
—
8,424
13,824,742
—
—
Investment securities purchased
—
—
—
20,669,507
94,212,914
—
1,299,822
Capital shares redeemed
—
—
—
—
119,623,278
—
—
230,605
148,985
60,388
653,235
4,743,116
29,997
136,960
2,115
1,131
457
4,954
43,479
227
1,039
Foreign currency, at value
Unrealized appreciation on forward foreign
currency contracts
Receivables:
Dividends and Interest
Investment securities sold
Total Assets
LIABILITIES:
Unrealized depreciation on forward foreign
currency contracts
Payables:
Advisory fees (Note 3)
Service fees (Note 2)
Closed forward foreign currency
contracts
—
—
12,288
—
—
3,017
—
232,720
150,116
73,133
21,336,120
232,447,529
33,241
1,437,821
$ 569,187,658
$304,752,712
$123,526,501
$1,446,871,030
$11,441,823,734
$ 62,011,586
$284,106,020
$ 708,744,169
$347,488,245
$129,237,601
$1,318,027,238
$11,097,627,190
$ 81,421,767
$297,339,407
1,499,228
646,092
256,630
2,903,216
116,301,672
166,028
2,322,594
(18,207,115)
195,161,253
Total Liabilities
NET ASSETS
NET ASSETS:
Paid-in capital
Undistributed net investment income
Accumulated net realized gain (loss) on
investments, forward foreign currency
contracts and foreign currency related
transactions
(244,427,285)
Net unrealized appreciation on
investments, forward foreign currency
contracts and translation of assets and
liabilities denominated in foreign
currencies
NET ASSETS
(28,818,002)
(25,591,226)
(34,883,229)
103,371,546
50,567,546
22,850,272
144,147,691
32,733,619
6,015,017
19,327,248
$ 569,187,658
$304,752,712
$123,526,501
$1,446,871,030
$11,441,823,734
$ 62,011,586
$284,106,020
10,450,000
6,400,000
2,600,000
23,250,000
240,900,000
1,200,000
5,650,000
Outstanding beneficial interest shares of
$0.001 par value (unlimited number of
shares authorized)
Net asset value per share
(93,949,171)
$
54.47
$
47.62
$
47.51
$
62.23
$
47.50
$
51.68
$
50.28
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 143
Statements of Assets and Liabilities (continued)
WisdomTree International Dividend and Sector Funds
March 31, 2014
WisdomTree
Asia Pacific
ex-Japan Fund
WisdomTree
Australia
Dividend Fund
WisdomTree
International
LargeCap
Dividend Fund
WisdomTree
International
Dividend
ex-Financials Fund
WisdomTree
International
MidCap
Dividend Fund
WisdomTree
International
SmallCap
Dividend Fund
WisdomTree
Emerging
Markets Equity
Income Fund
ASSETS:
Investments, at cost
$ 47,962,812 $ 47,152,305 $260,069,690 $ 281,642,082 $106,306,889 $ 720,925,448 $3,943,447,229
Investment in affiliates, at cost (Note 7)
Foreign currency, at cost
Investments in securities, at value (including
securities on loan) (Note 2)1
Investment in affiliates, at value (Note 7)
Cash
Foreign currency, at value
Unrealized appreciation on forward foreign currency
contracts
—
—
230,871
632,961
1,207,886
6,149,191
—
9,543
5,970
50,077
76,464
67,945
53,469
9,220,722
52,339,984
54,578,210
313,446,600
347,435,008
139,105,478
908,243,244
3,872,958,267
—
—
243,088
668,163
1,238,738
6,198,112
—
832,901
42,576
—
9,233
69,584
1,317,789
3,695,728
9,581
5,970
50,085
76,548
67,976
53,509
9,231,239
—
—
—
—
—
—
146
Receivables:
Dividends and Interest
224,849
537,937
1,172,643
1,177,689
550,549
4,998,578
10,312,594
Investment securities sold
—
—
521,782
4,893,060
—
3,347,388
4,728,503
Foreign tax reclaims
—
—
465,459
368,641
118,961
374,603
—
Capital shares sold
—
—
—
—
—
55,164
—
—
53,407,315
—
55,164,693
—
315,899,657
—
354,628,342
—
141,151,286
—
924,588,387
985,141
3,901,911,618
Due to custodian
—
—
190,188
—
—
—
—
Unrealized depreciation on forward foreign currency
contracts
—
—
—
—
—
1
14,290
Investment of cash collateral for securities
loaned (Note 2)
—
—
—
—
—
90,000
2,286,181
Investment securities purchased
—
—
305,138
—
—
55,164
8,700,328
805,227
—
—
4,906,768
—
—
—
23,085
26,925
126,682
174,755
68,892
442,646
2,042,350
210
204
1,163
1,328
524
3,363
14,264
154
828,676
—
27,129
—
623,171
—
5,082,851
—
69,416
—
591,174
—
13,057,413
Closed forward foreign currency contracts
Total Assets
LIABILITIES:
Payables:
Capital shares redeemed
Advisory fees (Note 3)
Service fees (Note 2)
Closed forward foreign currency contracts
Total Liabilities
NET ASSETS
$ 52,578,639 $ 55,137,564 $315,276,486 $ 349,545,491 $141,081,870 $ 923,997,213 $3,888,854,205
NET ASSETS:
Paid-in capital
$ 72,554,594 $ 69,976,769 $324,788,786 $ 451,886,514 $195,267,218 $ 939,510,050 $4,672,189,503
Undistributed net investment income
23,148
Accumulated net realized loss on investments,
forward foreign currency contracts and foreign
currency related transactions
29,189
(24,379,518) (22,309,273)
696,213
(63,630,307)
754,395
(168,946,984)
411,974
4,022,356
(87,435,042) (206,942,568)
7,748,713
(720,636,562)
Net unrealized appreciation (depreciation) on
investments, forward foreign currency contracts
and translation of assets and liabilities
denominated in foreign currencies
NET ASSETS
4,380,415
7,440,879
53,421,794
65,851,566
32,837,720 187,407,375
(70,447,449)
$ 52,578,639 $ 55,137,564 $315,276,486 $ 349,545,491 $141,081,870 $ 923,997,213 $3,888,854,205
Outstanding beneficial interest shares of $0.001
par value (unlimited number of shares
authorized)
Net asset value per share
$
1
800,000
65.72 $
900,000
61.26 $
6,100,000
51.68 $
7,100,000
49.23 $
Market value of securities out on loan were as follows: $0, $0, $0, $0, $0, $84,532 and $2,079,082, respectively.
See Notes to Financial Statements.
144 WisdomTree International Dividend and Sector Funds
2,350,000
14,250,000
60.03 $
64.84 $
79,000,000
49.23
Statements of Assets and Liabilities (continued)
WisdomTree International Dividend and Sector Funds
March 31, 2014
WisdomTree
Emerging Markets
SmallCap
Dividend Fund
WisdomTree
Middle East
Dividend Fund
WisdomTree
Commodity
Country
Equity Fund
WisdomTree
Europe Hedged
Equity Fund
WisdomTree
Global Natural
Resources Fund
WisdomTree
Global ex-U.S.
Utilities Fund
WisdomTree
Global ex-U.S.
Real Estate Fund
ASSETS:
Investments, at cost
$1,668,445,631 $44,036,941 $ 966,872,809 $ 20,872,428 $ 24,841,243 $ 28,770,952 $117,572,957
Investment in affiliates, at cost (Note 7)
4,188,475
—
—
10,733
55,601
—
310,228
Foreign currency, at cost
5,085,274
119,223
426,620
40,935
1,626
53,442
114,352
1,802,538,613
53,001,556
1,057,835,593
21,372,076
22,268,726
30,154,085
126,969,652
Investments in securities, at value (including
securities on loan) (Note 2)1
Investment in affiliates, at value (Note 7)
4,186,652
—
—
11,058
56,133
—
312,524
Cash
4,333,667
7,276
733,326
2,659
6,865
34,459
181,248
Foreign currency, at value
5,113,692
119,112
426,620
41,042
1,632
53,378
114,565
7,900
—
2,174,006
—
—
—
2,465
7,901,084
608,127
1,573,540
78,457
48,166
77,157
353,677
—
—
132,484
24,929
12,527
15,614
16,293
5,797,374
21,012
—
2,229
—
147,177
1,457,738
18,561,350
—
32,664,673
—
—
11
—
—
—
—
—
—
—
4,501
1,848,440,332
53,757,083
1,095,540,242
21,532,450
22,394,049
30,481,881
129,412,663
23,009
—
167,233
—
—
1
497
919,582
—
—
—
—
—
—
32,227,104
—
34,564,748
—
—
—
1,563,794
Unrealized appreciation on forward foreign currency
contracts
Receivables:
Dividends and interest
Foreign tax reclaims
Investment securities sold
Capital shares sold
Closed forward foreign currency contracts
Total Assets
LIABILITIES:
Unrealized depreciation on forward foreign currency
contracts
Payables:
Investment of cash collateral for securities loaned
(Note 2)
Investment securities purchased
Capital shares redeemed
Advisory fees (Note 3)
Service fees (Note 2)
Closed forward foreign currency contracts
Total Liabilities
NET ASSETS
—
—
—
—
—
218,613
56,246
937,566
39,773
485,097
10,236
11,115
14,908
63,864
6,536
199
3,680
77
84
113
484
—
—
—
—
—
872
3,855
34,113,797
39,972
35,220,758
10,313
11,199
234,507
1,688,740
$1,814,326,535 $53,717,111 $1,060,319,484 $ 21,522,137 $ 22,382,850 $ 30,247,374 $127,723,923
NET ASSETS:
Paid-in capital
$1,933,133,867 $53,063,587 $1,008,808,385 $ 37,895,056 $ 42,540,911 $ 55,859,727 $184,076,355
Undistributed (Distributions in excess of) net
investment income
1,932,638
Accumulated net realized loss on investments,
forward foreign currency contracts and foreign
currency related transactions
Net unrealized appreciation (depreciation) on
investments, forward foreign currency contracts
and translation of assets and liabilities
denominated in foreign currencies
NET ASSETS
1
(254,878,313)
(8,812,210)
134,138,343
8,964,507
2,822,627
79,659
50,346
31,800
(44,291,125) (16,955,401) (17,637,268) (27,027,689)
92,979,597
502,823
(2,571,139)
1,383,536
(6,751,704)
(59,002,133)
9,401,405
$1,814,326,535 $53,717,111 $1,060,319,484 $ 21,522,137 $ 22,382,850 $ 30,247,374 $127,723,923
Outstanding beneficial interest shares of $0.001 par
value (unlimited number of shares authorized)
Net asset value per share
501,227
39,100,000
$
46.40 $
2,400,000
22.38 $
18,800,000
56.40 $
700,000
30.75 $
1,050,000
21.32 $
1,550,000
19.51 $
4,600,000
27.77
Market value of securities out on loan were as follows: $836,280, $0, $0, $0, $0, $0 and $0, respectively.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 145
Statements of Assets and Liabilities (concluded)
WisdomTree International Dividend and Sector Funds
March 31, 2014
WisdomTree
China Dividend
ex-Financials Fund
WisdomTree
United Kingdom
Hedged
Equity Fund
WisdomTree
Japan Hedged
SmallCap
Equity Fund
WisdomTree
Emerging
Markets
Dividend
Growth Fund
WisdomTree
Emerging Markets
Consumer
Growth Fund
WisdomTree
Germany Hedged
Equity Fund
WisdomTree
Korea Hedged
Equity Fund
$18,580,687
$15,768,742
$75,591,485
$19,651,924
$19,363,793
$8,820,996
$8,090,598
—
3,217
278,218
37,164
27,806
134
—
17,394,303
16,491,933
74,581,515
19,861,128
19,562,448
9,423,984
8,148,117
11,090
12,473
40,745
13,642
24,312
2,656
4,968
Foreign currency, at value
—
3,224
277,355
37,171
27,882
135
—
Unrealized appreciation on forward foreign
currency contracts
—
120,304
627,088
—
—
19,816
9,583
235
127,466
641,613
39,113
48,056
—
21,910
—
—
26,687
—
6,921
—
12,037
ASSETS:
Investments, at cost
Foreign currency, at cost
Investments in securities, at value (Note 2)
Cash
Receivables:
Dividends and interest
Investment securities sold
Capital shares sold
—
—
5,767,294
—
—
—
—
Foreign tax reclaims
—
—
41,755
—
—
190
—
17,405,628
16,755,400
82,004,052
19,951,054
19,669,619
9,446,781
8,196,615
—
118
1,599
—
29
113
41,524
Total Assets
LIABILITIES:
Unrealized depreciation on forward foreign
currency contracts
Payables:
Investment securities purchased
Advisory fees (Note 3)
Service fees (Note 2)
Capital gains tax payable
Closed forward foreign currency contracts
156,964
6,354,968
—
—
—
—
7,926
33,468
10,234
10,032
3,779
3,942
69
73
254
72
70
35
30
—
—
—
—
10,535
—
—
—
—
—
1,274
1,466
—
—
9,973
165,081
6,390,289
11,580
22,132
3,927
45,496
$17,395,655
$16,590,319
$75,613,763
$19,939,474
$19,647,487
$9,442,854
$8,151,119
$19,588,689
$18,266,254
$75,657,633
$19,750,231
$19,443,690
$8,989,893
$8,279,049
35,758
650,017
64,853
54,931
—
15,672
(304,028)
(85,188)
(39,898)
Total Liabilities
NET ASSETS
—
9,904
NET ASSETS:
Paid-in capital
Undistributed (Distributions in excess of) net
investment income
(25,729)
Accumulated net realized loss on
investments, forward foreign currency
contracts and foreign currency related
transactions
(980,921)
Net unrealized appreciation (depreciation)
on investments, forward foreign currency
contracts and translation of assets and
liabilities denominated in foreign
currencies
NET ASSETS
(1,186,384)
209,578
188,764
622,692
25,777
$75,613,763
$19,939,474
$19,647,487
$9,442,854
$8,151,119
350,000
650,000
2,600,000
800,000
800,000
350,000
350,000
49.70
$
25.52
(389,859)
(169,379)
$16,590,319
$
843,526
(169,731)
$17,395,655
Outstanding beneficial interest shares of
$0.001 par value (unlimited number of
shares authorized)
Net asset value per share
(2,555,219)
$
29.08
$
See Notes to Financial Statements.
146 WisdomTree International Dividend and Sector Funds
24.92
$
24.56
$
26.98
$
23.29
Statements of Operations
WisdomTree International Dividend and Sector Funds
For the Period Ended March 31, 2014
WisdomTree
DEFA Fund
WisdomTree
DEFA Equity
Income Fund
WisdomTree
Global Equity
Income Fund
$24,327,198
$15,723,706
$ 5,753,656
104,127
40,986
21,600
WisdomTree
Europe
SmallCap
Dividend Fund
WisdomTree
Japan Hedged
Equity Fund
WisdomTree
Global ex-U.S.
Dividend
Growth Fund
WisdomTree
Japan
SmallCap
Dividend Fund
7,225,842
$ 246,749,819
$ 2,228,362
$ 5,371,136
9,245
—
13,560
1,357
INVESTMENT INCOME:
Dividends1
Dividends from affiliates (Note 7)
Securities lending income (Note 2)
Total investment income
$
536,008
324,723
103,154
254,828
1,132,386
39,669
120,865
24,967,333
16,089,415
5,878,410
7,489,915
247,882,205
2,281,591
5,493,358
2,450,320
1,483,258
657,084
2,321,837
51,291,770
399,512
1,570,910
22,462
11,252
4,985
17,614
470,175
3,031
11,917
2,472,782
1,494,510
662,069
2,339,451
51,761,945
402,543
1,582,827
—
—
—
EXPENSES:
Advisory fees (Note 3)
Service fees (Note 2)
Total expenses
Expense waivers (Note 3)
Net expenses
Net investment income
(1,836)
(1,205)
(336)
(540)
2,470,946
1,493,305
661,733
2,339,451
51,761,945
402,543
1,582,287
22,496,387
14,596,110
5,216,677
5,150,464
196,120,260
1,879,048
3,911,071
(1,777,086)
(4,147,482)
9,964,272
(226,006,690)
(4,084,751)
(8,058,616)
—
(54,475)
(1,938)
NET REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS:
Net realized gain (loss) from:
Investment transactions
18,474
Investment transactions in affiliates
(Note 7)
In-kind redemptions
(53,896)
2,934,800
36,932
51,497
(11,159)
—
—
1,258,200
401,201,822
2,734,243
11,349,279
—
—
—
—
840
29
In-kind redemptions in affiliates
(Note 7)
Forward foreign currency contracts and
foreign currency related transactions
Net realized gain (loss)
(287)
3,039
10,041
(17,314)
(50,793)
613,897,783
2,902,130
(1,730,113)
(4,113,299)
11,160,520
789,092,915
63,464,082
36,300,558
12,790,411
139,854,794
(326,414,042)
27,148
(161,143)
(1,376,995)
3,127,611
(140,297)
2,036,020
Net change in unrealized appreciation
(depreciation) from:
Investment transactions
Forward foreign currency contracts and
translation of assets and liabilities
denominated in foreign currencies
52,797
22,720
7,121
4,342
Net change in unrealized appreciation
(depreciation)
63,516,879
36,323,278
12,797,532
139,859,136
(290,739,334)
Net realized and unrealized gain (loss) on
investments
66,419,009
34,593,165
8,684,233
151,019,656
498,353,581
$88,915,396
$49,189,275
$13,900,910
$156,170,120
$ 694,473,841
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
1
35,674,708
5,163
$
(20,108)
(135,134)
2,015,912
(1,512,129)
5,143,523
366,919
$ 9,054,594
Net of foreign withholding tax of $1,560,462, $844,431, $370,010, $999,250, $23,629,082, $274,278 and $521,617, respectively.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 147
Statements of Operations (continued)
WisdomTree International Dividend and Sector Funds
For the Period Ended March 31, 2014
WisdomTree
Asia Pacific
ex-Japan Fund
WisdomTree
Australia
Dividend Fund
WisdomTree
International
LargeCap
Dividend Fund
WisdomTree
International
Dividend
ex-Financials Fund
WisdomTree
International
MidCap
Dividend Fund
WisdomTree
International
SmallCap
Dividend Fund
WisdomTree
Emerging
Markets Equity
Income Fund
$ 2,881,817
$ 2,733,981
$13,345,948
$17,271,654
$ 4,813,509
$ 25,477,691
$ 233,977,177
INVESTMENT INCOME:
Dividends1
Dividends from affiliates (Note 7)
6,971
—
44,792
49,417
18,180
9,443
—
Securities lending income (Note 2)
6,484
22,392
231,378
608,536
170,572
1,103,479
2,506,978
2,895,272
2,756,373
13,622,118
17,929,607
5,002,261
26,590,613
236,484,155
362,028
359,700
1,245,021
2,030,632
751,986
4,080,190
30,847,673
Total investment income
EXPENSES:
Advisory fees (Note 3)
Service fees (Note 2)
Total expenses
Expense waivers (Note 3)
Net expenses
Net investment income
3,318
2,729
11,413
15,405
5,705
30,953
215,444
365,346
362,429
1,256,434
2,046,037
757,691
4,111,143
31,063,117
—
—
365,346
362,429
1,255,483
(951)
2,043,461
(2,576)
757,201
(490)
4,107,311
(3,832)
31,063,117
—
2,529,926
2,393,944
12,366,635
15,886,146
4,245,060
22,483,302
205,421,038
(3,025,805)
(2,264,264)
(6,289,919)
10,928,196
1,787,377
26,604,602
(385,059,754)
10,911
—
(111,986)
22,834
154,961
—
3,537,557
3,161,164
—
10,891,442
—
—
101,060,063
(1,297)
—
—
6,913
—
—
—
(36,307)
12,179
(14,502)
74,758
485,059
909,079
(6,416,407)
21,759,028
1,807,862
26,658,982
(286,034,186)
36,766,305
31,911,554
17,475,709
91,427,236
(311,114,137)
26,110
27,705
9,205
31,201
NET REALIZED AND UNREALIZED
GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) from:
Investment transactions
Investment transactions in affiliates
(Note 7)
In-kind redemptions
(142,281)
In-kind redemptions in affiliates
(Note 7)
Forward foreign currency contracts
and foreign currency related
transactions
Net realized gain (loss)
(2,349)
(100,581)
(2,034,495)
Net change in unrealized appreciation
(depreciation) from:
Investment transactions
Forward foreign currency contracts
and translation of assets and
liabilities denominated in foreign
currencies
(5,835,396)
2,563
(5,145,810)
6,029
21,260
Net change in unrealized appreciation
(depreciation)
(5,832,833)
(5,139,781)
36,792,415
31,939,259
17,484,914
91,458,437
(311,092,877)
Net realized and unrealized gain (loss)
on investments
(5,347,774)
(4,230,702)
30,376,008
53,698,287
19,292,776
118,117,419
(597,127,063)
$(2,817,848)
$(1,836,758)
$42,742,643
$69,584,433
$23,537,836
$140,600,721
$(391,706,025)
NET INCREASE (DECREASE) IN NET
ASSETS RESULTING FROM
OPERATIONS
1
Net of foreign withholding tax of $203,441, $25,483, $725,972, $1,612,513, $458,300, $2,242,541 and $31,589,965, respectively.
See Notes to Financial Statements.
148 WisdomTree International Dividend and Sector Funds
Statements of Operations (continued)
WisdomTree International Dividend and Sector Funds
For the Period Ended March 31, 2014
WisdomTree
Emerging
Markets SmallCap
Dividend Fund
WisdomTree
Middle East
Dividend Fund
WisdomTree
Europe Hedged
Equity Fund
$ 58,685,425
$1,886,574
$ 14,290,688
68,575
—
—
WisdomTree
Commodity
Country
Equity Fund
WisdomTree
Global Natural
Resources Fund
WisdomTree
Global ex-U.S.
Utilities Fund
WisdomTree
Global ex-U.S.
Real Estate Fund
$
926,093
$ 1,536,727
$ 4,910,393
1,972
6,070
7,527
INVESTMENT INCOME:
Dividends1
Dividends from affiliates (Note 7)
Securities lending income (Note 2)
Total investment income
$
939,564
2,312
1,168,111
—
475,138
31,686
18,935
51,520
49,921
59,922,111
1,886,574
14,765,826
973,562
947,000
1,594,317
4,967,841
10,490,721
221,436
2,836,405
130,198
136,282
194,188
729,040
73,268
1,107
21,517
987
1,034
1,472
5,531
10,563,989
222,543
2,857,922
131,185
137,316
195,660
734,571
—
—
—
—
—
EXPENSES:
Advisory fees (Note 3)
Service fees (Note 2)
Total expenses
Expenses waivers (Note 3)
(4,687)
(101)
Net expenses
10,559,302
222,543
2,857,922
131,185
137,316
195,660
734,470
Net investment income
49,362,809
1,664,031
11,907,904
842,377
809,684
1,398,657
4,233,371
NET REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS:
Net realized gain (loss) from:
Investment transactions
(82,347,840)
227,552
(11,843,382)
(1,035,384)
(1,977,073)
(3,902,699)
(232,525)
(222,276)
—
—
5,359
1,632
(15,522)
(36,481)
—
9,223,835
131,095
52,074
1,086,098
—
—
47
6
—
Investment transactions in affiliates
(Note 7)
In-kind redemptions
27,690,816
721,361
In-kind redemptions in affiliates
(Note 7)
Forward foreign currency contracts
and foreign currency related
transactions
Net realized gain (loss)
(2,694)
(23,812)
(29,894,857)
(9,847)
(55,875,271)
(993,277)
203,740
(32,514,404)
(908,730)
(86,089,703)
7,294,495
86,804,826
(85,018)
89
1,458,799
1,742
2,821
(1,920,540)
(4,888)
(2,837,011)
(10)
(7,387)
444,958
Net change in unrealized appreciation
(depreciation) from:
Investment transactions
Forward foreign currency contracts
and translation of assets and
liabilities denominated in foreign
currencies
63,107
357,011
5,328,081
(8,263,876)
376
1,063
357,387
5,329,144
(8,262,076)
1,800
Net change in unrealized appreciation
(depreciation)
(86,026,596)
7,294,584
88,263,625
(83,276)
Net realized and unrealized gain (loss)
on investments
(141,901,867)
7,498,324
55,749,221
(992,006)
(1,563,153)
2,492,133
(7,817,118)
$ (92,539,058)
$9,162,355
$ 67,657,125
$ (149,629)
$ (753,469)
$ 3,890,790
$(3,583,747)
NET INCREASE (DECREASE) IN NET
ASSETS RESULTING FROM
OPERATIONS
1
Net of foreign withholding tax of $9,066,040, $71,488, $1,663,862, $141,708, $96,551, $206,764 and $476,298, respectively.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 149
Statements of Operations (concluded)
WisdomTree International Dividend and Sector Funds
For the Period Ended March 31, 2014
WisdomTree
Emerging
Markets
Dividend
Growth Fund4
WisdomTree
Emerging
Markets
Consumer
Growth Fund5
WisdomTree
Germany
Hedged
Equity Fund6
WisdomTree
Korea
Hedged
Equity Fund7
844,176
$280,144
$123,478
$ 14,700
$ 21,775
3,562
3,485
1,070
1,029
—
1,360,282
847,738
283,629
124,548
15,729
21,775
87,526
147,559
67,098
37,530
15,604
10,344
WisdomTree
China Dividend
ex-Financials
Fund
WisdomTree
United Kingdom
Hedged
Equity Fund3
WisdomTree
Japan Hedged
SmallCap
Equity Fund3
$
842,891
$ 1,359,316
$
15,099
966
857,990
159,501
INVESTMENT INCOME:
Dividends1
Securities lending income (Note 2)
Total investment income
EXPENSES:
Advisory fees (Note 3)
1,114
802
1,119
469
262
143
79
Total expenses
Service fees (Note 2)
160,615
88,328
148,678
67,567
37,792
15,747
10,423
Net investment income (loss)
697,375
1,271,954
699,060
216,062
86,756
(334,024)
(85,188)
(28,371)
(18)
11,352
NET REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS:
Net realized gain (loss) from:
Investment transactions
(982,497)
In-kind redemptions
(103,614)
Forward foreign currency contracts and foreign
currency related transactions
Net realized gain (loss)
(123,728)
1,438,008
853,536
—
—
9,769
(105,859)
—
—
(1,462)
(2,521,419)
135,111
6,452
(491)
(179,541)
(36,073)
(1,087,573)
(1,207,139)
654,623
(78,736)
(28,862)
(169,772)
(141,932)
209,204
188,120
602,988
57,519
Net change in unrealized appreciation (depreciation)
from:
Investment transactions2
Forward foreign currency contracts and translation
of assets and liabilities denominated in foreign
currencies
Net change in unrealized appreciation (depreciation)
Net realized and unrealized gain (loss) on
investments
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS
1
2
3
4
5
6
7
(754,713)
723,191
1
(754,712)
(1,842,285)
$(1,144,910)
$
(1,009,970)
120,335
620,111
374
644
19,704
(31,742)
843,526
(389,859)
209,578
188,764
622,692
25,777
(363,613)
264,764
130,842
159,902
452,920
(116,155)
963,824
$346,904
$246,658
$ 452,902
$(104,803)
908,341
$
Net of foreign withholding tax of $71,104, $462, $90,827, $32,293, $14,556, $2,402 and $4,308, respectively.
Net of capital gains tax of $0, $0, $0, $0, $10,535, $0 and $0, respectively.
For the period June 28, 2013 (commencement of operations) through March 31, 2014.
For the period August 1, 2013 (commencement of operations) through March 31, 2014.
For the period September 27, 2013 (commencement of operations) through March 31, 2014.
For the period October 17, 2013 (commencement of operations) through March 31, 2014.
For the period November 7, 2013 (commencement of operations) through March 31, 2014.
See Notes to Financial Statements.
150 WisdomTree International Dividend and Sector Funds
Statements of Changes in Net Assets
WisdomTree International Dividend and Sector Funds
WisdomTree
DEFA Fund
For the
Period Ended
March 31, 2014
WisdomTree
DEFA Equity Income Fund
WisdomTree
Global Equity Income Fund
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
$ 15,224,960
$ 14,596,110
$
$
$
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS:
Net investment income
$ 22,496,387
8,040,353
5,216,677
3,754,788
Net realized gain (loss) on investments, forward
foreign currency contracts and foreign
currency related transactions
2,902,130
(15,769,595)
(1,730,113)
(14,510,149)
(4,113,299)
(2,670,677)
Net change in unrealized appreciation
(depreciation) on investments and translation
of assets and liabilities denominated in
foreign currencies
63,516,879
46,566,868
36,323,278
26,720,238
12,797,532
8,347,136
88,915,396
46,022,233
49,189,275
20,250,442
13,900,910
9,431,247
(22,732,659)
(15,025,057)
(14,535,126)
(7,776,245)
(5,168,178)
(3,714,651)
56,738,559
68,901,531
61,088,169
20,726,716
11,320,726
6,452,418
(12,340,781)
(26,493,980)
—
—
—
—
Net increase (decrease) in net assets resulting
from operations
DIVIDENDS:
Net investment income
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
Cost of shares redeemed
Net increase (decrease) in net assets resulting
from capital share transactions
Net Increase (Decrease) in Net Assets
44,397,778
42,407,551
61,088,169
20,726,716
11,320,726
6,452,418
110,580,515
73,404,727
95,742,318
33,200,913
20,053,458
12,169,014
NET ASSETS:
Beginning of period
$458,607,143
$385,202,416
$209,010,394
$175,809,481
$103,473,043
$ 91,304,029
End of period
$569,187,658
$458,607,143
$304,752,712
$209,010,394
$123,526,501
$103,473,043
Undistributed net investment income included in
net assets at end of period
$
$
$
$
$
$
1,499,228
1,552,543
646,092
548,486
256,630
203,710
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period
9,600,000
8,650,000
5,050,000
4,550,000
2,350,000
2,200,000
Shares created
1,100,000
1,550,000
1,350,000
500,000
250,000
150,000
—
—
—
—
6,400,000
5,050,000
2,600,000
2,350,000
Shares redeemed
Shares outstanding, end of period
(250,000)
10,450,000
(600,000)
9,600,000
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 151
Statements of Changes in Net Assets (continued)
WisdomTree International Dividend and Sector Funds
WisdomTree
Europe SmallCap Dividend Fund
For the
Period Ended
March 31, 2014
WisdomTree
Japan Hedged Equity Fund
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
WisdomTree
Global ex-U.S. Dividend Growth Fund
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
$ 1,879,048
$ 1,817,208
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS:
Net investment income
$
Net realized gain (loss) on investments,
forward foreign currency contracts and
foreign currency related transactions
Net change in unrealized appreciation
(depreciation) on investments and
translation of assets and liabilities
denominated in foreign currencies
Net increase (decrease) in net assets
resulting from operations
5,150,464
$ 1,156,365
$
196,120,260
$
52,861,194
11,160,520
(1,523,990)
789,092,915
127,626,884
(1,376,995)
(7,366,301)
139,859,136
3,865,689
(290,739,334)
312,504,890
(135,134)
8,254,056
156,170,120
3,498,064
694,473,841
492,992,968
366,919
2,704,963
DIVIDENDS AND DISTRIBUTIONS:
Net investment income
Capital gains
Total dividends and distributions
(3,161,594)
(1,076,479)
(143,145,142)
(13,375,411)
—
—
(153,506,590)
—
(3,161,594)
(1,076,479)
(296,651,732)
(13,375,411)
(1,834,214)
(1,788,342)
—
—
(1,834,214)
(1,788,342)
4,797,457
36,131,419
(29,295,190)
(4,845,560)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
1,237,151,944
Cost of shares redeemed
29,785,014
(4,163,918)
8,779,979,328
—
4,678,791,825
(3,368,610,295)
(132,483,552)
Net increase (decrease) in net assets
resulting from capital share transactions
1,232,988,026
29,785,014
5,411,369,033
4,546,308,273
(24,497,733)
31,285,859
Net Increase (Decrease) in Net Assets
1,385,996,552
32,206,599
5,809,191,142
5,025,925,830
(25,965,028)
32,202,480
NET ASSETS:
Beginning of period
$
60,874,478
$28,667,879
$ 5,632,632,592
$ 606,706,762
$ 87,976,614
$55,774,134
End of period
$1,446,871,030
$60,874,478
$11,441,823,734
$5,632,632,592
$ 62,011,586
$87,976,614
Undistributed net investment income
included in net assets at end of period
$
$
$
$
$
$
2,903,216
311,362
116,301,672
51,853,913
166,028
80,764
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period
Shares created
Shares redeemed
Shares outstanding, end of period
1,450,000
750,000
131,150,000
16,550,000
21,900,000
700,000
183,100,000
118,700,000
(100,000)
—
23,250,000
1,450,000
(73,350,000)
240,900,000
See Notes to Financial Statements.
152 WisdomTree International Dividend and Sector Funds
(4,100,000)
131,150,000
1,700,000
1,100,000
100,000
700,000
(600,000)
(100,000)
1,200,000
1,700,000
Statements of Changes in Net Assets (continued)
WisdomTree International Dividend and Sector Funds
WisdomTree
Japan SmallCap Dividend Fund
For the
Period Ended
March 31, 2014
WisdomTree
Asia Pacific ex-Japan Fund
WisdomTree
Australia Dividend Fund
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
$
3,098,521
$ 2,529,926
$ 3,120,306
$ 2,393,944
$ 3,109,212
485,059
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS:
Net investment income
$
3,911,071
Net realized gain (loss) on investments,
forward foreign currency contracts and
foreign currency related transactions
3,127,611
7,599,553
Net change in unrealized appreciation
(depreciation) on investments and
translation of assets and liabilities
denominated in foreign currencies
2,015,912
4,856,594
(5,832,833)
7,566,337
(5,139,781)
12,647,612
9,054,594
15,554,668
(2,817,848)
9,101,928
(1,836,758)
13,466,903
(5,814,634)
(4,026,669)
(2,489,523)
(3,102,604)
(2,462,154)
(3,153,173)
Net increase (decrease) in net assets resulting
from operations
(1,584,715)
909,079
(2,289,921)
DIVIDENDS:
Net investment income
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
154,225,915
33,483,539
Cost of shares redeemed
—
10,063,418
(38,300,577)
—
(9,548,589)
11,163,124
(66,274,021)
(45,269,085)
Net increase (decrease) in net assets resulting
from capital share transactions
(17,756,703)
(5,739,510)
87,951,894
(11,785,546)
(38,300,577)
514,829
(17,756,703)
5,423,614
Net Increase (Decrease) in Net Assets
91,191,854
(257,547)
(43,607,948)
6,514,153
(22,055,615)
15,737,344
NET ASSETS:
Beginning of period
$192,914,166
$193,171,713
$ 96,186,587
$89,672,434
$ 77,193,179
$61,455,835
End of period
$284,106,020
$192,914,166
$ 52,578,639
$96,186,587
$ 55,137,564
$77,193,179
Undistributed net investment income included
in net assets at end of period
$
$
$
$
$
$
2,322,594
3,074,610
23,148
17,900
29,189
85,220
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period
Shares created
Shares redeemed
Shares outstanding, end of period
3,950,000
3,100,000
4,250,000
1,400,000
750,000
—
(1,400,000)
(1,050,000)
(600,000)
5,650,000
3,950,000
800,000
1,400,000
150,000
(150,000)
1,400,000
1,200,000
—
(300,000)
900,000
1,100,000
200,000
(100,000)
1,200,000
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 153
Statements of Changes in Net Assets (continued)
WisdomTree International Dividend and Sector Funds
WisdomTree
International LargeCap Dividend Fund
For the
Period Ended
March 31, 2014
WisdomTree
International Dividend ex-Financials Fund
WisdomTree
International MidCap Dividend Fund
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
$
$ 15,886,146
$ 15,399,840
$
$
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS:
Net investment income
$ 12,366,635
6,832,369
4,245,060
3,256,826
Net realized gain (loss) on investments,
forward foreign currency contracts and
foreign currency related transactions
(6,416,407)
(9,531,067)
21,759,028
(31,196,689)
1,807,862
(8,775,781)
Net change in unrealized appreciation
(depreciation) on investments and
translation of assets and liabilities
denominated in foreign currencies
36,792,415
22,860,660
31,939,259
34,215,767
17,484,914
16,266,194
42,742,643
20,161,962
69,584,433
18,418,918
23,537,836
10,747,239
(12,150,590)
(6,637,277)
(15,909,125)
(15,069,853)
(4,342,219)
(3,330,617)
74,143,503
29,763,093
—
9,674,992
2,817,029
10,294,211
—
—
(53,811,313)
Net increase (decrease) in net assets resulting
from operations
DIVIDENDS:
Net investment income
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
Cost of shares redeemed
Net increase (decrease) in net assets resulting
from capital share transactions
(19,334,301)
—
(4,464,240)
74,143,503
29,763,093
(53,811,313)
(9,659,309)
2,817,029
5,829,971
104,735,556
43,287,778
(136,005)
(6,310,244)
22,012,646
13,246,593
Beginning of period
$210,540,930
$167,253,152
$349,681,496
$355,991,740
$119,069,224
$105,822,631
End of period
$315,276,486
$210,540,930
$349,545,491
$349,681,496
$141,081,870
$119,069,224
Undistributed net investment income included
in net assets at end of period
$
$
$
$
$
$
Net Increase (Decrease) in Net Assets
NET ASSETS:
696,213
494,609
754,395
701,664
411,974
473,831
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period
4,600,000
3,900,000
Shares created
1,500,000
700,000
—
—
—
(1,200,000)
6,100,000
4,600,000
Shares redeemed
Shares outstanding, end of period
8,300,000
7,100,000
See Notes to Financial Statements.
154 WisdomTree International Dividend and Sector Funds
8,550,000
2,300,000
250,000
50,000
(500,000)
8,300,000
—
2,350,000
2,200,000
200,000
(100,000)
2,300,000
Statements of Changes in Net Assets (continued)
WisdomTree International Dividend and Sector Funds
WisdomTree
International SmallCap Dividend Fund
For the
Period Ended
March 31, 2014
WisdomTree
Emerging Markets Equity Income Fund
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
WisdomTree
Emerging Markets SmallCap Dividend Fund
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS:
Net investment income
$ 22,483,302
$ 16,378,442
Net realized gain (loss) on
investments, forward foreign
currency contracts and foreign
currency related transactions
26,658,982
1,449,817
(286,034,186)
(198,539,332)
(55,875,271)
(89,908,635)
Net change in unrealized appreciation
(depreciation) on investments and
translation of assets and liabilities
denominated in foreign currencies
91,458,437
57,326,071
(311,092,877)
45,919,467
(86,026,596)
186,822,194
140,600,721
75,154,330
(391,706,025)
(8,804,415)
(92,539,058)
123,746,131
(27,535,002)
(16,696,307)
(205,548,331)
(143,743,128)
(54,318,601)
(32,701,228)
248,798,670
86,110,599
Net increase (decrease) in net assets
resulting from operations
$
205,421,038
$ 143,815,450
$
49,362,809
$
26,832,572
DIVIDENDS:
Net investment income
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
Cost of shares redeemed
—
673,784,277
(6,700,141)
2,268,561,851
(1,662,744,077)
(281,836,720)
593,919,699
515,049,890
(106,834,506)
(154,863,364)
Net increase (decrease) in net assets
resulting from capital share
transactions
248,798,670
79,410,458
(988,959,800)
1,986,725,131
487,085,193
360,186,526
Net Increase (Decrease) in Net Assets
361,864,389
137,868,481
(1,586,214,156)
1,834,177,588
340,227,534
451,231,429
Beginning of period
$562,132,824
$424,264,343
$ 5,475,068,361
$3,640,890,773
$1,474,099,001
$1,022,867,572
End of period
$923,997,213
$562,132,824
$ 3,888,854,205
$5,475,068,361
$1,814,326,535
$1,474,099,001
Undistributed (Distributions in excess of)
net investment income included in net
assets at end of period
$
$
$
$
$
$
NET ASSETS:
4,022,356
5,929,833
7,748,713
8,413,475
1,932,638
5,226,484
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of
period
Shares created
Shares redeemed
Shares outstanding, end of period
10,150,000
8,600,000
4,100,000
1,700,000
—
14,250,000
(150,000)
10,150,000
99,900,000
63,500,000
28,800,000
21,400,000
11,000,000
13,300,000
41,900,000
12,600,000
(34,200,000)
(5,500,000)
(2,300,000)
(3,600,000)
79,000,000
99,900,000
39,100,000
28,800,000
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 155
Statements of Changes in Net Assets (continued)
WisdomTree International Dividend and Sector Funds
WisdomTree
Middle East Dividend Fund
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
WisdomTree
Europe Hedged Equity Fund
For the
Period Ended
March 31, 2014
WisdomTree
Commodity Country Equity Fund
For the
Period Ended
March 28, 20131
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
$
$
$
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS:
Net investment income
$ 1,664,031
Net realized gain (loss) on investments,
forward foreign currency contracts and
foreign currency related transactions
203,740
Net change in unrealized appreciation
(depreciation) on investments, forward
foreign currency contracts and
translation of assets and liabilities
denominated in foreign currencies
Net increase (decrease) in net assets
resulting from operations
$
544,442
$
11,907,904
(31,094)
(32,514,404)
7,294,584
448,734
88,263,625
9,162,355
962,082
67,657,125
(1,267,094)
(643,257)
(9,199,353)
542,468
(76,854)
842,377
990,714
(908,730)
(582,093)
3,796,481
(83,276)
982,878
4,262,095
(149,629)
1,391,499
(815,003)
(1,000,096)
—
—
DIVIDENDS:
Net investment income
(518,343)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
31,324,349
Cost of shares redeemed
—
1,623,047
940,909,066
159,985,470
(1,482,861)
(103,574,788)
(21,164,937)
(1,512,206)
(7,831,378)
Net increase (decrease) in net assets
resulting from capital share transactions
31,324,349
140,186
837,334,278
138,820,533
(1,512,206)
(7,831,378)
Net Increase (Decrease) in Net Assets
39,219,610
459,011
895,792,050
142,564,285
(2,476,838)
(7,439,975)
NET ASSETS:
Beginning of period
$14,497,501
$14,038,490
$ 164,527,434
$ 21,963,149
$23,998,975
$31,438,950
End of period
$53,717,111
$14,497,501
$1,060,319,484
$164,527,434
$21,522,137
$23,998,975
Undistributed (Distributions in excess of) net
investment income included in net assets
at end of period
$
$
$
$
$
$
501,227
53,461
2,822,627
36,480
79,659
57,766
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period
Shares created
Shares redeemed
Shares outstanding, end of period
1
900,000
1,500,000
—
2,400,000
900,000
3,300,000
500,000
3,300,000
100,000
17,600,000
(100,000)
(2,100,000)
900,000
18,800,000
(500,000)
3,300,000
750,000
—
1,000,000
—
(50,000)
(250,000)
700,000
750,000
This information reflects the investment objective and strategy of the WisdomTree International Hedged Equity Fund through August 29, 2012 and the investment objective and strategy
of the WisdomTree Europe Hedged Equity Fund thereafter.
See Notes to Financial Statements.
156 WisdomTree International Dividend and Sector Funds
Statements of Changes in Net Assets (continued)
WisdomTree International Dividend and Sector Funds
WisdomTree
Global Natural Resources Fund
For the
Period Ended
March 31, 2014
WisdomTree
Global ex-U.S. Utilities Fund
WisdomTree
Global ex-U.S. Real Estate Fund
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
$
$ 1,398,657
$ 1,365,460
$
$
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS:
Net investment income
$
Net realized gain (loss) on investments,
forward foreign currency contracts and
foreign currency related transactions
809,684
(1,920,540)
Net change in unrealized appreciation
(depreciation) on investments, forward
foreign currency contracts and translation
of assets and liabilities denominated in
foreign currencies
(2,475,504)
357,387
Net increase (decrease) in net assets resulting
from operations
938,938
(2,837,011)
(2,057,691)
4,233,371
444,958
3,683,067
(128,061)
(614,534)
5,329,144
361,623
(8,262,076)
18,240,075
(753,469)
(2,151,100)
3,890,790
(330,608)
(3,583,747)
21,795,081
(785,058)
(956,648)
(1,422,728)
(1,355,041)
(4,770,599)
(8,639,126)
—
(3,704)
—
—
(401,422)
—
(785,058)
(960,352)
(1,422,728)
(1,355,041)
(5,172,021)
(8,639,126)
8,879,058
26,922,169
4,505,270
(4,073,300)
(12,251,624)
DIVIDENDS AND DISTRIBUTIONS:
Net investment income
Return of capital
Total dividends and distributions
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
Cost of shares redeemed
—
—
(1,042,425)
(3,376,742)
893,648
(10,548,693)
—
Net increase (decrease) in net assets resulting
from capital share transactions
(1,042,425)
(3,376,742)
(9,655,045)
8,879,058
22,848,869
(7,746,354)
Net Increase (Decrease) in Net Assets
(2,580,952)
(6,488,194)
(7,186,983)
7,193,409
14,093,101
5,409,601
NET ASSETS:
Beginning of period
$24,963,802
$31,451,996
$ 37,434,357
$30,240,948
$113,630,822
$108,221,221
End of period
$22,382,850
$24,963,802
$ 30,247,374
$37,434,357
$127,723,923
$113,630,822
Undistributed (Distributions in excess of) net
investment income included in net assets at
end of period
$
$
$
$
$ (6,751,704)
$ (7,214,396)
50,346
(419)
31,800
60,759
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period
Shares created
Shares redeemed
Shares outstanding, end of period
1,100,000
1,250,000
2,100,000
1,600,000
3,800,000
4,100,000
—
—
50,000
500,000
950,000
150,000
(50,000)
1,050,000
(150,000)
1,100,000
(600,000)
1,550,000
—
2,100,000
(150,000)
4,600,000
(450,000)
3,800,000
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 157
Statements of Changes in Net Assets (continued)
WisdomTree International Dividend and Sector Funds
WisdomTree
China Dividend ex-Financials Fund
For the
Period Ended
March 31, 2014
For the Period
September 19, 20121
through
March 28, 2013
WisdomTree
United Kingdom
Hedged
Equity Fund
WisdomTree
Japan Hedged
SmallCap
Equity Fund
For the Period
June 28,
20131
through
March 31,
2014
For the Period
June 28,
20131
through
March 31,
2014
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)
$
Net realized gain (loss) on investments, forward foreign currency contracts and foreign
currency related transactions
Net change in unrealized appreciation (depreciation) on investments, forward foreign
currency contracts and translation of assets and liabilities denominated in foreign
currencies
Net increase (decrease) in net assets resulting from operations
697,375
$
(74,553)
$ 1,271,954
$
(1,207,139)
699,060
(1,087,573)
(249)
654,623
(754,712)
(431,672)
843,526
(389,859)
(1,144,910)
(506,474)
908,341
963,824
(717,428)
—
DIVIDENDS:
Net investment income
(1,253,723)
(102,144)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
—
Cost of shares redeemed
36,837,756
43,463,008
80,715,953
(17,073,389)
—
(26,527,407)
(5,963,970)
Net increase (decrease) in net assets resulting from capital share transactions
(17,073,389)
36,837,756
16,935,601
74,751,983
Net Increase (Decrease) in Net Assets
(18,935,727)
36,331,282
16,590,219
75,613,663
NET ASSETS:
Beginning of period
$ 36,331,382
$
End of period
$ 17,395,655
$36,331,382
$ 16,590,319
$75,613,763
Undistributed (Distributions in excess of) net investment income included in net assets at
end of period
Accumulated net investment loss included in net assets at end of period
$
$
$
$
(25,729)
—
100
—
(51,302)
$
100
35,758
—
$
100
650,017
—
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period
Shares created
Shares redeemed
2
4
4
—
700,000
1,650,000
2,800,000
(350,002)
Shares outstanding, end of period
1
700,002
350,000
Commencement of operations.
See Notes to Financial Statements.
158 WisdomTree International Dividend and Sector Funds
—
700,002
(1,000,004)
650,000
(200,004)
2,600,000
Statements of Changes in Net Assets (concluded)
WisdomTree International Dividend and Sector Funds
WisdomTree
Emerging Markets
Dividend Growth
Fund
WisdomTree
Emerging Markets
Consumer Growth
Fund
WisdomTree
Germany Hedged
Equity Fund
WisdomTree
Korea Hedged
Equity Fund
For the Period
August 1, 20131
through
March 31, 2014
For the Period
September 27, 20131
through
March 31, 2014
For the Period
October 17, 20131
through
March 31, 2014
For the Period
November 7, 20131
through
March 31, 2014
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)
$
216,062
$
86,756
$
(18)
$
11,352
Net realized loss on investments, forward foreign currency contracts and
foreign currency related transactions
(78,736)
(28,862)
(169,772)
Net change in unrealized appreciation on investments, forward foreign
currency contracts and translation of assets and liabilities denominated
in foreign currencies
209,578
188,764
622,692
25,777
346,904
246,658
452,902
(104,803)
(158,839)
(42,861)
—
(23,127)
Net increase (decrease) in net assets resulting from operations
(141,932)
DIVIDENDS:
Net investment income
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares
19,751,405
Cost of shares redeemed
19,443,684
(96)
8,989,957
(94)
8,279,040
(105)
(91)
Net increase in net assets resulting from capital share transactions
19,751,309
19,443,590
8,989,852
8,278,949
Net Increase in Net Assets
19,939,374
19,647,387
9,442,754
8,151,019
NET ASSETS:
Beginning of period
$
End of period
$19,939,474
100
$
$19,647,487
$9,442,854
$8,151,119
Undistributed net investment income included in net assets at end of period
$
$
$
$
64,853
100
54,931
$
100
—
$
100
15,672
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period
Shares created
Shares redeemed
Shares outstanding, end of period
1
4
4
4
4
800,000
800,000
350,000
350,000
(4)
(4)
800,000
800,000
(4)
350,000
(4)
350,000
Commencement of operations.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 159
Financial Highlights
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree DEFA Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
47.77
For the
Period Ended
March 28, 2013
$
44.53
For the
Year Ended
March 31, 2012
$
49.51
For the
Year Ended
March 31, 2011
$
46.13
For the
Year Ended
March 31, 2010
$
32.00
Investment operations:
Net investment income1
Net realized and unrealized gain (loss)
2.27
6.72
1.63
3.22
1.90
(4.99)
1.58
3.39
2.00
14.24
Total from investment operations
8.99
4.85
(3.09)
4.97
16.24
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
(2.29)
$
TOTAL RETURN2
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets3 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
54.47
19.43%
$569,188
Net asset value, beginning of year or period
47.77
$458,607
0.48%4
0.48%4
3.75%4
21%
For the
Period Ended
March 31, 2014
$
41.39
(1.89)
$
11.42%
0.48%4
0.48%4
4.41%4
Portfolio turnover rate5
WisdomTree DEFA Equity Income
Fund
(1.61)
$
44.53
(1.59)
$
(6.18)%
$385,202
49.51
(2.11)
$
11.33%
$457,997
46.13
51.43%
$435,906
0.48%
0.48%
4.22%
0.48%
0.48%
3.50%
20%
27%
30%
97%
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 2012
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 2010
$
38.64
$
43.82
$
41.85
0.19%*
0.48%
4.63%
$
28.43
Investment operations:
Net investment income1
Net realized and unrealized gain (loss)
2.57
6.14
1.74
2.70
1.90
(5.17)
1.75
2.01
1.56
13.44
Total from investment operations
8.71
4.44
(3.27)
3.76
15.00
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN2
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets3 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
(2.48)
$
47.62
21.82%
$304,753
Portfolio turnover rate5
(1.69)
$
41.39
12.08%
$209,010
0.58%4
0.58%4
5.71%4
0.58%4
0.58%4
4.58%4
26%
31%
(1.91)
$
38.64
(7.45)%
$175,809
(1.79)
$
43.82
9.74%
$131,454
(1.58)
$
41.85
53.57%
$142,297
0.58%
0.58%
4.84%
0.58%
0.58%
4.39%
0.58%
0.58%
3.91%
32%
34%
36%
* Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the underlying funds that were paid indirectly by the Fund during the period when Fund operated as a
“funds of funds”.
1
Based on average shares outstanding.
2
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been reimbursed/waived by the investment adviser (Note 2 and 3).
3
The ratios to average net assets do not include net investment income (loss) or expenses of other Funds in which the Fund Invests.
4
Annualized.
5
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
160 WisdomTree International Dividend and Sector Funds
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Global Equity Income
Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
44.03
For the
Period Ended
March 28, 2013
$
41.50
For the
Year Ended
March 31, 2012
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 20101
$ 44.66
$ 40.99
$ 26.84
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
2.11
3.46
1.68
2.51
1.86
(3.14)
1.52
3.63
2.07
14.28
Total from investment operations
5.57
4.19
(1.28)
5.15
16.35
(2.09)
(1.66)
(1.88)
(1.48)
(2.20)
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL
$
RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets4 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
13.13%
$123,527
Portfolio turnover rate6
WisdomTree Europe SmallCap
Dividend Fund
Net asset value, beginning of year or period
47.51
44.03
$ 41.50
10.51%
(2.70)%
$103,473
0.58%5
0.58%5
4.60%5
0.58%5
0.58%5
4.10%5
25%
32%
For the
Period Ended
March 31, 2014
$
$
$91,304
$ 44.66
13.12%
$78,147
0.58%
0.58%
4.53%
0.58%
0.58%
3.74%
25%
35%
$ 40.99
62.13%
$43,042
0.26%*
0.58%
5.49%
94%
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 2012
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 2010
$ 44.44
$ 37.62
$ 22.44
41.98
$ 38.22
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
0.73
20.90
1.32
3.82
1.44
(5.74)
1.09
6.85
0.99
15.37
Total from investment operations
21.63
5.14
(4.30)
7.94
16.36
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets4 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate6
(1.38)
$
62.23
53.06%
$1,446,871
(1.38)
(1.92)
$ 41.98
$ 38.22
14.33%
(9.80)%
$60,874
0.58%5
0.58%5
1.29%5
0.58%5
0.58%5
3.52%5
24%
48%
$28,668
(1.12)
$ 44.44
21.86%
$28,889
(1.18)
$ 37.62
74.18%
$30,095
0.58%
0.58%
3.79%
0.58%
0.58%
2.81%
0.58%
0.58%
2.92%
58%
60%
55%
* Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the underlying funds that were paid indirectly by the Fund during the period when Fund operated as a
“funds of funds”.
1
This information reflects the investment objective and strategy of the WisdomTree Europe Equity Income Fund through June 19, 2009 and the investment objective and strategy of the
WisdomTree Global Equity Income Fund thereafter.
2
Based on average shares outstanding.
3
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been reimbursed/waived by the investment adviser (Note 2 and 3).
4
The ratios to average net assets do not include net investment income (loss) or expenses of other Funds in which the Fund invests.
5
Annualized.
6
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 161
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Japan Hedged Equity
Fund
For the
Period Ended
March 31, 2014
Net asset value, beginning of year or period
$
42.95
For the
Period Ended
March 28, 2013
$
36.66
For the
Year Ended
March 31, 2012
$
36.94
For the
Year Ended
March 31, 2011
$
42.12
For the
Year Ended
March 31, 2010
$ 32.02
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
0.88
4.91
1.54
5.30
0.81
(0.34)
1.79
(6.52)
0.73
9.89
Total from investment operations
5.79
6.84
0.47
(4.73)
10.62
(0.62)
(0.62)
(0.55)
—
(0.75)
—
(0.45)
—
(0.52)
—
Dividends and distributions to shareholders:
Net investment income
Capital gains
Total dividends and distributions to shareholders
Net asset value, end of year or period
(1.24)
$
47.50
TOTAL RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets7 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
13.48%
$11,441,824
Net asset value, beginning of year or period
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
Total from investment operations
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets7 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
2
3
4
5
6
7
19.12%
$5,632,633
0.48%6
0.48%6
4.22%6
24%
36%
(0.75)
$
36.66
1.46%
$606,707
(0.45)
$
36.94
(11.25)%
$494,981
(0.52)
$ 42.12
33.33%
$54,751
0.48%
0.48%
2.41%
0.48%
0.48%
5.40%
0.48%
0.48%
1.72%
41%
28%
13%
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 2012
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 20101
$ 51.75
$ 50.70
$ 54.94
$ 49.61
$ 35.41
1.38
(0.19)
1.34
1.08
1.39
(4.32)
1.41
5.22
1.11
14.94
1.19
2.42
(2.93)
6.63
16.05
(1.26)
$ 51.68
2.53%
$62,012
(1.37)
$ 51.75
5.03%
$87,977
(1.31)
$ 50.70
(5.20)%
$55,774
(1.30)
$ 54.94
13.67%
$49,446
(1.85)
$ 49.61
46.04%
$24,805
0.58%6
0.58%6
2.73%6
0.58%6
0.58%6
2.72%6
0.58%4
0.58%
2.73%
0.57%4
0.58%
2.80%
0.58%4
0.58%
2.54%
93%
59%
28%
68%
121%
Portfolio turnover rate5
1
42.95
0.48%6
0.48%6
1.84%6
Portfolio turnover rate5
WisdomTree Global ex-U.S. Dividend
Growth Fund
(0.55)
$
This information reflects the investment objective and strategy of the WisdomTree World ex-U.S. Growth Fund through June 19, 2011 and the investment objective and strategy of the
WisdomTree Global ex-U.S. Dividend Growth Fund thereafter.
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been reimbursed/waived by the investment adviser (Note 2 and 3).
Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the WisdomTree India Earnings Fund that were paid indirectly by the Fund. The Fund invests a portion of its
assets in the WisdomTree India Earnings Fund in order to achieve exposure to securities in India.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
Annualized.
The ratios to average net assets do not include net investment income (loss) or expenses of other Funds in which the Fund invests.
See Notes to Financial Statements.
162 WisdomTree International Dividend and Sector Funds
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Japan SmallCap
Dividend Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
48.84
For the
Period Ended
March 28, 2013
$
For the
Year Ended
March 31, 2012
45.45
$
43.25
For the
Year Ended
March 31, 2011
$
41.54
For the
Year Ended
March 31, 2010
$
31.47
Investment operations:
Net investment income1
Net realized and unrealized gain
0.72
1.84
0.78
3.58
0.68
2.42
0.99
1.47
0.79
9.96
Total from investment operations
2.56
4.36
3.10
2.46
10.75
(1.12)
(0.97)
(0.90)
(0.75)
(0.68)
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL
RETURN2
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets3 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate5
1
2
3
4
5
$
50.28
5.41%
$284,106
$
48.84
$
9.97%
7.36%
$192,914
0.58%4
0.58%4
1.44%4
0.58%4
0.58%4
1.84%4
21%
41%
45.45
$193,172
$
43.25
6.02%
$235,685
$
41.54
34.37%
$157,850
0.58%
0.58%
1.58%
0.58%
0.58%
2.51%
0.58%
0.58%
2.09%
36%
39%
45%
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been reimbursed/waived by the investment adviser (Note 2 and 3).
The ratio to average net assets do not include net investment income (loss) or expenses of other Funds in which the Fund invests.
Annualized.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 163
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Asia Pacific ex-Japan
Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 20121
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 2010
$ 68.70
$ 64.05
$ 67.99
$ 61.40
$ 37.09
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
2.25
(3.01)
2.27
4.65
2.14
(3.85)
2.51
6.59
1.79
24.23
Total from investment operations
(0.76)
6.92
(1.71)
9.10
26.02
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets5 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate6
WisdomTree Australia Dividend
Fund
Net asset value, beginning of year or period
(2.22)
$ 65.72
(0.98)%
$52,579
(2.27)
$ 68.70
11.18%
$96,187
0.48%4
0.48%4
3.35%4
0.48%4
0.48%4
3.53%4
21%
26%
(2.23)
$ 64.05
(2.22)%
$89,672
(2.51)
$ 67.99
(1.71)
$ 61.40
15.33%
$88,388
70.97%
$89,033
0.48%
0.48%
3.42%
0.48%
0.48%
4.05%
0.48%
0.48%
3.11%
60%
27%
18%
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 20127
For the
Year Ended
March 31, 2011
$ 64.33
$ 55.87
$ 61.64
$ 57.24
For the
Year Ended
March 31, 2010
$
30.80
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
2.32
(2.81)
2.60
8.44
2.87
(5.48)
2.99
4.62
2.23
26.27
Total from investment operations
(0.49)
11.04
(2.61)
7.61
28.50
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets5 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate6
1
2
3
4
5
6
7
(2.58)
$ 61.26
(0.59)%
$55,138
(2.58)
$ 64.33
20.49%
$77,193
0.58%4
0.58%4
3.86%4
0.58%4
0.58%4
4.71%4
27%
31%
(3.16)
$ 55.87
(3.86)%
$61,456
(3.21)
$ 61.64
14.03%
$80,137
(2.06)
$
57.24
93.79%
$117,339
0.58%
0.58%
5.18%
0.58%
0.58%
5.42%
0.58%
0.58%
4.25%
68%
46%
25%
This information reflects the investment objective and strategy of the WisdomTree Pacific ex-Japan Total Dividend Fund through June 19, 2011 and the investment objective and
strategy of the WisdomTree Asia Pacific ex-Japan Fund thereafter.
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been reimbursed/waived by the investment adviser (Note 2 and 3).
Annualized.
The ratios to average net assets do not include net investment income (loss) or expenses of other Funds in which the Fund invests.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
This information reflects the investment objective and strategy of the WisdomTree Pacific ex-Japan Equity Income Fund through June 19, 2011 and the investment objective and
strategy of the WisdomTree Australia Dividend Fund thereafter.
See Notes to Financial Statements.
164 WisdomTree International Dividend and Sector Funds
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree International LargeCap
Dividend Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
45.77
For the
Period Ended
March 28, 2013
$
For the
Year Ended
March 31, 2012
42.89
$
47.68
For the
Year Ended
March 31, 2011
$
45.34
For the
Year Ended
March 31, 2010
$
31.57
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
2.35
5.79
1.59
2.84
1.86
(4.75)
1.56
2.37
1.50
13.91
Total from investment operations
8.14
4.43
(2.89)
3.93
15.41
(2.23)
(1.55)
(1.90)
(1.59)
(1.64)
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL
$
RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Net asset value, beginning of year or period
$
18.35%
$315,276
45.77
15%
For the
Period Ended
March 31, 2014
42.13
42.89
$
(6.02)%
$210,541
0.48%4
0.48%4
3.77%4
$
$
10.80%
0.48%4
0.48%4
4.77%4
Portfolio turnover rate5
WisdomTree International Dividend
ex-Financials Fund
51.68
$167,253
47.68
$
9.21%
$164,489
45.34
49.56%
$149,624
0.48%
0.48%
4.34%
0.48%
0.48%
3.56%
0.48%
0.48%
3.54%
19%
23%
22%
26%
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 2012
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 20101
$
41.64
$
46.85
$
42.69
$
28.46
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
2.06
7.11
1.82
0.45
1.74
(5.11)
1.83
4.21
1.50
14.24
Total from investment operations
9.17
2.27
(3.37)
6.04
15.74
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate5
1
2
3
4
5
(2.07)
$
49.23
22.58%
$349,545
(1.78)
$
(1.84)
42.13
$
5.98%
(7.24)%
$349,681
0.58%4
0.58%4
4.54%4
0.58%4
0.58%4
4.58%4
36%
50%
41.64
$355,992
(1.88)
$
46.85
14.93%
$149,929
(1.51)
$
42.69
56.27%
$164,338
0.58%
0.58%
4.20%
0.58%
0.58%
4.30%
0.58%
0.58%
3.81%
28%
52%
69%
This information reflects the investment objective and strategy of the WisdomTree International Dividend Top 100 Fund through May 8, 2009 and the investment objective and strategy
of the WisdomTree International Dividend ex-Financials Fund thereafter.
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been reimbursed/waived by the investment adviser (Note 2 and 3).
Annualized.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 165
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree International MidCap
Dividend Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
Investment operations:
Net investment income1
Net realized and unrealized gain (loss)
Total from investment operations
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
Net asset value, beginning of year or period
TOTAL RETURN2
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate4
1
2
3
4
$
31.55
10.14
5.19
(3.90)
6.72
18.53
60.03
(1.52)
$
51.77
55.38
(1.80)
$
11.32%
$119,069
For the
Period Ended
March 31, 2014
48.10
(1.61)
$
(7.21)%
$105,823
53.80
(1.39)
$
14.38%
$156,006
48.69
59.59%
$146,069
0.58%
0.58%
3.69%
0.58%
0.58%
3.14%
0.58%
0.58%
2.88%
38%
47%
40%
49%
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 2012
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 2010
$
49.33
$
53.15
$
46.98
$
29.08
1.91
9.97
1.82
6.09
1.77
(3.66)
1.43
6.14
1.20
17.91
11.88
7.91
(1.89)
7.57
19.11
(2.42)
$
48.69
1.26
17.27
22%
Dividends to shareholders:
Net investment income
$
1.53
5.19
0.58%3
0.58%3
3.23%3
Total from investment operations
53.80
For the
Year Ended
March 31, 2010
1.79
(5.69)
0.58%3
0.58%3
3.27%3
$
$
For the
Year Ended
March 31, 2011
1.51
3.68
$141,082
Investment operations:
Net investment income1
Net realized and unrealized gain (loss)
Net asset value, end of year or period
48.10
For the
Year Ended
March 31, 2012
1.83
8.31
20.22%
Portfolio turnover rate4
WisdomTree International
SmallCap Dividend Fund
$
(1.88)
$
TOTAL RETURN2
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
51.77
For the
Period Ended
March 28, 2013
64.84
22.26%
$923,997
(1.86)
$
55.38
16.78%
$562,133
0.58%3
0.58%3
3.20%3
0.58%3
0.58%3
3.76%3
42%
56%
(1.93)
$
49.33
(3.41)%
$424,264
(1.40)
$
53.15
16.64%
$475,703
(1.21)
$
46.98
66.50%
$429,870
0.58%
0.58%
3.65%
0.58%
0.58%
2.99%
0.58%
0.58%
2.87%
52%
55%
63%
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been reimbursed/waived by the investment adviser (Note 2 and 3).
Annualized.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
166 WisdomTree International Dividend and Sector Funds
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Emerging Markets
Equity Income Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
54.81
For the
Period Ended
March 28, 2013
$
For the
Year Ended
March 31, 2012
57.34
$
60.51
For the
Year Ended
March 31, 2011
$
52.02
For the
Year Ended
March 31, 2010
$
31.11
Investment operations:
Net investment income1
Net realized and unrealized gain (loss)
2.16
(5.60)
1.78
(2.50)
2.25
(3.11)
1.89
8.55
1.48
21.00
Total from investment operations
(3.44)
(0.72)
(0.86)
10.44
22.48
Dividends to shareholders:
Net investment income
(2.14)
(1.81)
(2.31)
(1.95)
(1.57)
Net asset value, end of year or period
TOTAL
RETURN2
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets3 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate5
1
2
3
4
5
$
49.23
(6.22)%
$3,888,854
$
54.81
$
(1.05)%
(1.03)%
$5,475,068
0.63%4
0.63%4
4.20%4
0.63%4
0.63%4
3.32%4
39%
47%
57.34
$3,640,891
$
60.51
20.75%
$1,325,257
$
52.02
73.33%
$540,990
0.63%
0.63%
4.12%
0.63%
0.63%
3.47%
0.63%
0.63%
3.26%
37%
33%
44%
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been waived by the investment adviser (Note 2 and 3).
The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.
Annualized.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 167
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Emerging Markets
SmallCap Dividend Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
51.18
For the
Period Ended
March 28, 2013
$
47.80
For the
Year Ended
March 31, 2012
$
53.30
For the
Year Ended
March 31, 2011
$
44.51
For the
Year Ended
March 31, 2010
$
24.62
Investment operations:
Net investment income1
Net realized and unrealized gain (loss)
1.40
(4.57)
1.15
3.69
1.47
(5.31)
1.32
8.86
1.02
20.00
Total from investment operations
(3.17)
4.84
(3.84)
10.18
21.02
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
(1.61)
$
46.40
TOTAL RETURN2
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets3 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
(6.08)%
$1,814,327
Net asset value, beginning of year or period
51.18
10.58%
$1,474,099
(1.66)
$
47.80
(6.88)%
$1,022,868
(1.39)
$
53.30
23.38%
$927,463
(1.13)
$
44.51
86.26%
$342,754
0.63%4
0.63%4
2.96%4
0.63%4
0.63%4
2.49%4
0.63%5
0.63%
3.13%
0.63%5
0.63%
2.68%
0.63%5
0.63%
2.59%
26%
44%
53%
35%
38%
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 2012
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 2010
$ 16.31
$ 15.64
$ 12.13
Portfolio turnover rate6
WisdomTree Middle East Dividend
Fund
(1.46)
$
$ 16.11
$ 15.60
Investment operations:
Net investment income1
Net realized and unrealized gain (loss)
1.28
5.71
0.63
0.59
0.83
(0.61)
0.68
0.49
0.53
3.68
Total from investment operations
6.99
1.22
0.22
1.17
4.21
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN2
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets3 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
(0.72)
$ 22.38
44.12%
$53,717
2
3
4
5
6
8.46%
$14,498
0.88%4
0.88%4
6.61%4
0.88%4
1.35%4
4.26%4
26%
52%
Portfolio turnover rate6
1
(0.71)
$ 16.11
(0.93)
$ 15.60
1.35%
$14,038
(0.50)
$ 16.31
7.95%
$19,571
(0.70)
$ 15.64
35.25%
$12,515
0.88%
1.83%
5.31%
0.88%
2.17%
4.33%
0.88%
1.30%
3.63%
37%
50%
96%
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been waived by the investment adviser (Note 2 and 3).
The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.
Annualized.
Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the WisdomTree India Earnings Fund that were paid indirectly by the Fund. The Fund invests a portion of its
assets in the WisdomTree India Earnings Fund in order to acheve exposure to securities in India.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
168 WisdomTree International Dividend and Sector Funds
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Europe Hedged
Equity Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
For the
Period Ended
March 28, 2013**
49.86
$
For the
Year Ended
March 31, 2012
For the
Year Ended
March 31, 2011
For the Period
December 31, 2009*
through
March 31, 2010
$ 47.61
$ 47.72
$46.92
43.93
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
1.31
6.35
0.89
5.96
1.73
(3.84)
1.43
(0.02)
0.29
0.64
Total from investment operations
7.66
6.85
(2.11)
1.41
0.93
(1.12)
—
(0.92)
—
(1.57)
—
(1.52)
—
(0.13)
(0.00)3
Dividends and distributions to shareholders:
Net investment income
Capital gains
Total dividends and distributions to shareholders
Net asset value, end of year or period
TOTAL RETURN4
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets6 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate7
WisdomTree Commodity Country
Equity Fund
Net asset value, beginning of year or period
(1.12)
$
(0.92)
56.40
$
15.73%
$1,060,319
(1.57)
49.86
$ 43.93
16.06%
(4.41)%
$164,527
$21,963
0.58%5
0.58%5
2.43%5
0.58%5
0.73%5
2.01%5
28%
(1.52)
(0.13)
$ 47.61
$47.72
3.27%
$21,425
1.98%
$9,545
0.47%5,8
0.58%5
2.53%5
0.58%
1.25%
3.99%
0.58%
1.65%
3.11%
43%
42%
38%
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 20121
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 2010
$ 32.00
$ 31.44
$ 33.21
$ 28.90
$ 16.04
79%
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
1.14
(1.29)
1.13
0.56
1.09
(1.76)
0.53
4.33
0.47
12.80
Total from investment operations
(0.15)
1.69
(0.67)
4.86
13.27
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN4
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets6 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate7
(1.10)
$ 30.75
(0.22)%
$21,522
(1.13)
(1.10)
$ 32.00
$ 31.44
5.72%
(1.77)%
$23,999
$31,439
(0.55)
$ 33.21
17.31%
$43,172
(0.41)
$ 28.90
83.44%
$49,137
0.58%5
0.58%5
3.75%5
0.58%5
0.58%5
3.71%5
0.58%
0.58%
3.52%
0.58%
0.58%
1.86%
0.58%
0.58%
1.91%
23%
22%
116%
35%
25%
* Commencement of operations.
** This information reflects the investment objective and strategy of the WisdomTree International Hedged Equity Fund through August 29, 2012 and the investment objective and strategy
of the WisdomTree Europe Hedged Equity Fund thereafter.
1
This information reflects the investment objective and strategy of the WisdomTree International Basic Materials Sector Fund through June 19, 2011 and the investment objective and
strategy of the WisdomTree Commodity Country Equity Fund thereafter.
2
Based on average shares outstanding.
3
Amount is less than $0.005.
4
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been waived by the investment adviser (Note 2 and 3).
5
Annualized.
6
The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.
7
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
8
Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the underlying funds that were paid indirectly by the Fund during the period when the Fund operated as a
“fund of funds”.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 169
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Global Natural
Resources Fund
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 20121
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 2010
Net asset value, beginning of year or period
$ 22.69
$ 25.16
$ 29.86
$ 24.63
$ 18.61
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
0.74
(1.39)
0.80
(2.45)
0.93
(4.74)
0.72
5.19
0.80
6.07
Total from investment operations
(0.65)
(1.65)
(3.81)
5.91
6.87
Dividends and distributions to shareholders:
Net investment income
Return of capital
(0.72)
—
(0.82)
(0.00)8
(0.89)
—
(0.68)
—
(0.85)
—
Total dividends and distributions to shareholders
Net asset value, end of year or period
TOTAL RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets4 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
(0.72)
$ 21.32
(2.72)%
$22,383
Net asset value, beginning of year or period
(6.55)%
$24,964
0.58%5
0.58%5
3.45%5
0.58%5
0.58%5
3.45%5
30%
38%
Portfolio turnover rate6
WisdomTree Global ex-U.S. Utilities
Fund
(0.82)
$ 22.69
(0.89)
$ 25.16
(12.70)%
$31,452
(0.68)
$ 29.86
24.74%
$49,273
(0.85)
$ 24.63
37.29%
$45,569
0.58%
0.58%
3.54%
0.58%
0.58%
2.90%
0.58%
0.58%
3.36%
99%
32%
16%
For the
Period Ended
March 31, 2014
For the
Period Ended
March 28, 2013
For the
Year Ended
March 31, 20127
For the
Year Ended
March 31, 2011
For the
Year Ended
March 31, 2010
$ 17.83
$ 18.90
$ 21.33
$ 21.46
$ 17.78
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
0.76
1.69
0.74
(1.07)
0.87
(2.45)
0.84
(0.06)
0.87
3.77
Total from investment operations
2.45
(0.33)
(1.58)
0.78
4.64
Dividends to shareholders:
Net investment income
Net asset value, end of year or period
TOTAL RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets4 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
(0.77)
$ 19.51
14.34%
$30,247
2
3
4
5
6
7
8
(1.54)%
$37,434
0.58%5
0.58%5
4.18%5
0.58%5
0.58%5
4.21%5
37%
33%
Portfolio turnover rate6
1
(0.74)
$ 17.83
(0.85)
$ 18.90
(7.41)%
$30,241
(0.91)
$ 21.33
4.27%
$37,335
(0.96)
$ 21.46
26.42%
$49,348
0.58%
0.58%
4.48%
0.58%
0.58%
4.22%
0.58%
0.58%
4.17%
66%
19%
17%
This information reflects the investment objective and strategy of the WisdomTree International Energy Sector Fund through June 19, 2011 and the investment objective and strategy of
the WisdomTree Global Natural Resources Fund thereafter.
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been waived by the investment adviser (Note 2 and 3).
The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.
Annualized.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
This information reflects the investment objective and strategy of the WisdomTree International Utilities Sector Fund through June 19, 2011 and the investment objective and strategy of
the WisdomTree Global ex-U.S. Utilities Fund thereafter.
Amount is less than $0.005.
See Notes to Financial Statements.
170 WisdomTree International Dividend and Sector Funds
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Global ex-U.S. Real
Estate Fund
Net asset value, beginning of year or period
For the
Period Ended
March 31, 2014
$
29.90
For the
Period Ended
March 28, 2013
$
For the
Year Ended
March 31, 20121
26.40
$
28.86
For the
Year Ended
March 31, 2011
$
For the
Year Ended
March 31, 2010
26.75
$ 16.92
Investment operations:
Net investment income2
Net realized and unrealized gain (loss)
0.96
(1.84)
0.97
4.87
1.15
(2.32)
0.96
3.83
0.96
11.39
Total from investment operations
(0.88)
5.84
(1.17)
4.79
12.35
Dividends and distributions to shareholders:
Net investment income
Return of capital
(1.17)
(0.08)
(2.34)
—
(1.21)
(0.08)
(2.68)
—
(2.52)
—
Total dividends and distributions to shareholders
(1.25)
(2.34)
(1.29)
(2.68)
(2.52)
Net asset value, end of year or period
TOTAL
RETURN3
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of year or period (000’s omitted)
Ratios to average net assets4 of:
Expenses, net of expense waivers
Expenses, prior to expense waivers
Net investment income
Portfolio turnover rate6
1
2
3
4
5
6
$
27.77
(2.70)%
$127,724
$
29.90
$
22.62%
(3.99)%
$113,631
0.58%5
0.58%5
3.37%5
0.58%5
0.58%5
3.42%5
18%
23%
26.40
$108,221
$
28.86
18.81%
$122,670
$ 26.75
74.20%
$84,276
0.58%
0.58%
4.36%
0.58%
0.58%
3.48%
0.58%
0.58%
3.76%
43%
18%
19%
This information reflects the investment objective and strategy of the WisdomTree International Real Estate Fund through June 19, 2011 and the investment objective and strategy of
the WisdomTree Global ex-U.S. Real Estate Fund thereafter.
Based on average shares outstanding.
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if
certain expenses had not been waived by the investment adviser (Note 2 and 3).
The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.
Annualized.
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 171
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree China Dividend ex-Financials Fund
Net asset value, beginning of period
For the
Period Ended
March 31, 2014
For the Period
September 19, 2012*
through
March 28, 2013
$ 51.90
$ 50.02
Investment operations:
Net investment income (loss)1
Net realized and unrealized gain (loss)
1.39
(2.15)
(0.14)
2.02
Total from investment operations
(0.76)
1.88
Dividends to shareholders:
Net investment income
(1.44)
Net asset value, end of period
$ 49.70
TOTAL RETURN2
(1.32)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)
Ratios to average net assets of:
Expenses
Net investment income (loss)
$17,396
0.63%3
2.75%3
Portfolio turnover rate4
21%
WisdomTree United Kingdom Hedged Equity Fund
Net asset value, beginning of period
—
$ 51.90
3.76%
$36,331
0.63%3
(0.51)%3
0%
For the Period
June 28, 2013*
through
March 31, 2014
$ 24.99
Investment operations:
Net investment income1
Net realized and unrealized gain
1.40
0.91
Total from investment operations
2.31
Dividends to shareholders:
Net investment income
(1.78)
Net asset value, end of period
$ 25.52
TOTAL RETURN2
9.36%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)
Ratios to average net assets of:
Expenses
Net investment income
$16,590
0.48%3
6.98%3
Portfolio turnover rate4
12%
* Commencement of operations.
1
Based on average shares outstanding.
2
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.
3
Annualized.
4
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
172 WisdomTree International Dividend and Sector Funds
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
For the Period
June 28, 2013*
through
March 31, 2014
WisdomTree Japan Hedged SmallCap Equity Fund
Net asset value, beginning of period
$ 26.17
Investment operations:
Net investment income1
Net realized and unrealized gain
0.59
2.38
Total from investment operations
2.97
Dividends to shareholders:
Net investment income
(0.06)
Net asset value, end of period
TOTAL
$ 29.08
RETURN2
11.37%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)
Ratios to average net assets of:
Expenses
Net investment income
$75,614
0.58%3
2.75%3
Portfolio turnover rate4
19%
For the Period
August 1, 2013*
through
March 31, 2014
WisdomTree Emerging Markets Dividend Growth Fund
Net asset value, beginning of period
$ 25.22
Investment operations:
Net investment income1
Net realized and unrealized loss
0.33
(0.42)
Total from investment operations
(0.09)
Dividends to shareholders:
Net investment income
(0.21)
Net asset value, end of period
$ 24.92
TOTAL RETURN2
(0.33)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)
Ratios to average net assets of:
Expenses
Net investment income
$19,939
0.63%3
2.03%3
Portfolio turnover rate4
3%
* Commencement of operations.
1
Based on average shares outstanding.
2
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.
3
Annualized.
4
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 173
Financial Highlights (continued)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Emerging Markets Consumer Growth Fund
Net asset value, beginning of period
For the Period
September 27, 2013*
through
March 31, 2014
$ 24.79
Investment operations:
Net investment income1
Net realized and unrealized loss
0.17
(0.33)
Total from investment operations
(0.16)
Dividends to shareholders:
Net investment income
(0.07)
Net asset value, end of period
$ 24.56
TOTAL RETURN3
(0.63)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)
Ratios to average net assets of:
Expenses
Net investment income
$19,647
0.63%4
1.46%4
Portfolio turnover rate5
7%
For the Period
October 17, 2013*
through
March 31, 2014
WisdomTree Germany Hedged Equity Fund
Net asset value, beginning of period
$25.01
Investment operations:
Net investment loss1
Net realized and unrealized gain
(0.00)2
1.97
Total from investment operations
1.97
Net asset value, end of period
$26.98
TOTAL RETURN3
7.88%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)
Ratios to average net assets of:
Expenses
Net investment loss
$9,443
0.48%4
(0.00)%4,6
Portfolio turnover rate5
4%
* Commencement of operations.
1
Based on average shares outstanding.
2
Amount is less than $0.005.
3
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.
4
Annualized.
5
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
6
Amount is less than 0.005%.
See Notes to Financial Statements.
174 WisdomTree International Dividend and Sector Funds
Financial Highlights (concluded)
WisdomTree International Dividend and Sector Funds
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
For the Period
November 7, 2013*
through
March 31, 2014
WisdomTree Korea Hedged Equity Fund
Net asset value, beginning of period
$25.01
Investment operations:
Net investment income1
Net realized and unrealized loss
0.06
(1.55)
Total from investment operations
(1.49)
Dividends to shareholders:
Net investment income
(0.23)
Net asset value, end of period
TOTAL
$23.29
RETURN2
(5.97)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)
Ratios to average net assets of:
Expenses
Net investment income
$8,151
0.58%3
0.64%3
Portfolio turnover rate4
37%
* Commencement of operations.
1
Based on average shares outstanding.
2
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value
during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.
3
Annualized.
4
Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.
See Notes to Financial Statements.
WisdomTree International Dividend and Sector Funds 175
Notes to Financial Statements
1. ORGANIZATION
WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an openend management investment company. The Trust was established as a Delaware statutory trust on December 15, 2005. As of
March 31, 2014, the Trust offered 62 investment funds (each a “Fund,” collectively, the “Funds”). These notes and Financial
Statements relate only to the Funds listed in the table below for the period March 29, 2013 through March 31, 2014 unless otherwise
indicated:
Fund
WisdomTree DEFA Fund (“DEFA Fund”)
WisdomTree DEFA Equity Income Fund (“DEFA Equity Income Fund”)
WisdomTree Global Equity Income Fund (“Global Equity Income Fund”)
WisdomTree Europe SmallCap Dividend Fund (“Europe SmallCap Dividend Fund”)
WisdomTree Japan Hedged Equity Fund (“Japan Hedged Equity Fund”)
WisdomTree Global ex-U.S. Dividend Growth Fund (“Global ex-U.S. Dividend Growth Fund”)
(formerly, WisdomTree Global ex-U.S. Growth Fund)
WisdomTree Japan SmallCap Dividend Fund (“Japan SmallCap Dividend Fund”)
WisdomTree Asia Pacific ex-Japan Fund (“Asia Pacific ex-Japan Fund”)
WisdomTree Australia Dividend Fund (“Australia Dividend Fund”)
WisdomTree International LargeCap Dividend Fund (“International LargeCap Dividend Fund”)
WisdomTree International Dividend ex-Financials Fund (“International Dividend ex-Financials Fund”)
WisdomTree International MidCap Dividend Fund (“International MidCap Dividend Fund”)
WisdomTree International SmallCap Dividend Fund (“International SmallCap Dividend Fund”)
WisdomTree Emerging Markets Equity Income Fund (“Emerging Markets Equity Income Fund”)
WisdomTree Emerging Markets SmallCap Dividend Fund (“Emerging Markets SmallCap Dividend Fund”)
WisdomTree Middle East Dividend Fund (“Middle East Dividend Fund”)
WisdomTree Europe Hedged Equity Fund (“Europe Hedged Equity Fund”)
WisdomTree Commodity Country Equity Fund (“Commodity Country Equity Fund”)
WisdomTree Global Natural Resources Fund (“Global Natural Resources Fund”)
WisdomTree Global ex-U.S. Utilities Fund (“Global ex-U.S. Utilities Fund”)
WisdomTree Global ex-U.S. Real Estate Fund (“Global ex-U.S. Real Estate Fund”)
WisdomTree China Dividend ex-Financials Fund (“China Dividend ex-Financials Fund”)
WisdomTree United Kingdom Hedged Equity Fund (“United Kingdom Hedged Equity Fund”)
WisdomTree Japan Hedged SmallCap Equity Fund (“Japan Hedged SmallCap Equtiy Fund”)
WisdomTree Emerging Markets Dividend Growth Fund (“Emerging Markets Dividend Growth Fund”)
WisdomTree Emerging Markets Consumer Growth Fund (“Emerging Markets Consumer Growth Fund”)
WisdomTree Germany Hedged Equity Fund (“Germany Hedged Equity Fund”)
WisdomTree Korea Hedged Equity Fund (“Korea Hedged Equity Fund”)
Commencement of
Operations
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
June 16, 2006
July 13, 2007
October 30, 2007
July 16, 2008
December 31, 2009
October 13, 2006
October 13, 2006
October 13, 2006
June 5, 2007
September 19, 2012
June 28, 2013
June 28, 2013
August 1, 2013
September 27, 2013
October 17, 2013
November 7, 2013
Each Fund seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by
WisdomTree Investments, Inc. (“WisdomTree Investments”). WisdomTree Investments is the parent company of WisdomTree Asset
Management, Inc. (“WTAM”), the investment adviser to each Fund and the Trust. “WisdomTree” is a registered mark of
WisdomTree Investments and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified.
In the normal course of business the Funds may enter into contracts that contain a variety of representations or that provide
indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve
future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses
pursuant to these contracts.
2. SIGNIFICANT ACCOUNTING POLICIES
The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) is the exclusive
reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by
nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of
federal laws are also sources of authoritative GAAP for SEC registrants.
176 WisdomTree International Dividend and Sector Funds
Notes to Financial Statements (continued)
The following is a summary of significant accounting policies followed by the Funds:
Use of Estimates — The preparation of financial statements in conformity with GAAP, requires management to make certain
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during
the reporting period. Actual results could differ from those estimates.
Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day the national securities exchanges
are open for trading as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. New York time. NAV per
share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at
NAV only in large blocks of shares known as creation units, which only certain institutions or large investors may purchase or
redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell
shares through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV
or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees.
Securities traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the
exchange or system on which they are principally traded. Unlisted equity securities are valued at the last quoted sale price or, if no
sale price is available, at the mean between the highest bid and lowest ask price. Short-term securities with 60 days or less remaining
to maturity are valued using the amortized cost method, which approximates fair value. Each Fund may invest in money market
funds which are valued at their NAV per share and affiliated ETFs which are valued at their last sale or official closing price on the
exchange on which they are principally traded. Forward foreign currency contracts are valued daily using WM/Reuters closing spot
and forward rates as of 4:00 p.m. London time for Europe and the Americas and Tullett Prebon closing spot and forward rates as of
2:00 p.m. Singapore time for Asia.
In certain instances, such as when reliable market valuations are not readily available or are not deemed to reflect current market
values, a Fund’s investments will be fair valued in accordance with the Fund’s pricing policy. The Board of Trustees of the Trust has
established a pricing committee (the “Pricing Committee”) which is comprised of senior representatives of WTAM and which reports
to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from a
national securities exchange, independent pricing service provider or broker quotation, or such prices are deemed to not reflect
current market value, the Pricing Committee may value the financial instrument in good faith under the policies and procedures
approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using fair value pricing
may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default
or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment
limits or currency controls, and securities affected by “significant events”. An example of a significant event is an event occurring
after the close of the market in which a security trades but before a Fund’s next NAV calculation time that may materially affect the
value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). Price movements in U.S.
markets that are deemed to affect the value of foreign securities, or reflect changes to the value of such securities, also may cause
securities to be fair valued. The Funds may rely on an independent fair valuation service in adjusting the valuations of foreign
securities. When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or
published prices for the same securities.
Fair Value Measurement — In accordance with Codification Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, fair
value is defined as the price that each Fund would receive upon selling an investment in an orderly transaction to an independent
buyer in the principal or most advantageous market of the investment. ASC 820 established a three-tier hierarchy of inputs to be used
when determining fair value measurements for disclosure purposes, including assumptions about risk — for example, the risk
inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the
inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market
participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources
independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions
market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the
circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 – quoted prices in active markets for identical securities
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds,
credit risk, etc.)
Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)
The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those
investments.
Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate
actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as
WisdomTree International Dividend and Sector Funds 177
Notes to Financial Statements (continued)
amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a
security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation or
market activity; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an
event that occurs after the close of the markets on which the security is traded but before the time as of which a Fund’s NAV is
computed and that may materially affect the value of the Fund’s investments).
The valuation techniques and significant inputs used in determining the fair market value measurements for Level 2 and Level 3
positions are as follows:
Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported
trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent
pricing service providers’ internal pricing models may use inputs that are observable such as issuer details, interest rates, yield curves,
prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar
valuation techniques and observable inputs as described above and have an appropriate level of activity are categorized as Level 2 of
the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate. Short-term investments having a maturity of 60
days or less are generally valued at amortized cost which approximates fair market value. These investments are categorized as Level 2
of the fair value hierarchy. Over-the-counter financial derivative instruments derive their value from underlying asset prices, indices,
reference rates, and other inputs or a combination of these factors. These instruments are normally valued on the basis of
broker-dealer quotations or independent pricing service providers. Depending on the product and the terms of the transaction, the
value of the financial derivative instruments can be estimated by an independent pricing service provider using a series of techniques,
including simulation pricing models. The pricing models use inputs that are observed from actively quoted markets such as issuer
details, indices, credit risks/spreads, interest rates, yield curves, default and exchange rates. Derivative contracts that use valuation
techniques and observable inputs as described above and have an appropriate level of activity are categorized as Level 2 of the fair
value hierarchy, otherwise a Level 3 fair value classification is appropriate.
Determination of a fair value by the Pricing Committee value may include significant unobservable inputs and therefore would be
reflected as a Level 3 of the fair value hierarchy. The Pricing Committee may employ a market-based valuation approach which may
use, among other potential considerations, related or comparable securities, recent transactions, market multiples, book values, and
other relevant information to determine fair value. The Pricing Committee may also use an income-based valuation approach in
which anticipated future cash flows of the financial instrument are discounted to calculate fair value. The Pricing Committee meets
at least on a monthly basis to review and discuss the appropriateness of such fair values using more current information such as,
recent security news, recent market transactions, updated corporate action information and/or other macro or security specific
events. Also, when observable inputs become available, the Pricing Committee conducts back testing of the methodologies used to
value Level 3 financial instruments to substantiate the unobservable inputs used to value those investments. Such back testing
includes comparing Level 3 investment values to observable inputs such as exchange-traded prices, transaction prices, and/or vendor
prices.
The following is a summary of the fair valuations according to inputs used as of March 31, 2014 in valuing each Fund’s assets:
DEFA Fund
Common
Level 1
Stocks*
Exchange-Traded Funds
Level 2
$565,359,028
$
—
Level 3
$
—
545,678
—
—
Hong Kong
—
15,951
—
Portugal
—
—
1,319
Rights
Spain
Total
DEFA Equity Income Fund
73,127
—
—
$565,977,833
$15,951
$1,319
Level 1
Level 2
Level 3
Common Stocks
Spain
$ 20,067,441
Other*
282,918,007
—
—
89,234
—
—
—
Exchange-Traded Funds
$
—
$11,733
Rights
Hong Kong
Spain
Total
178 WisdomTree International Dividend and Sector Funds
—
10,450
51,417
—
—
$303,126,099
$10,450
$11,733
Notes to Financial Statements (continued)
Global Equity Income Fund
Level 1
Level 2
Level 3
Common Stocks*
$122,890,872
$—
$—
6,714
—
—
$122,897,586
$—
$—
Rights
Total
Europe SmallCap Dividend Fund
Level 1
Level 2
Level 3
Common Stocks
Spain
Other*
Exchange-Traded Funds
Total
$
—
$14,346
1,376,024,204
55,495,886
—
—
3,386,251
1,434,906,341
—
—
—
$14,346
Unrealized Depreciation on Forward Foreign Currency Contracts
Total - Net
$
—
(8,424)
—
$1,434,906,341
$(8,424)
$14,346
Japan Hedged Equity Fund
Level 1
Common Stocks*
$11,298,513,697
Level 2
$
Level 3
—
$—
—
Unrealized Appreciation on Forward Foreign Currency Contracts
—
115,601,360
Unrealized Depreciation on Forward Foreign Currency Contracts
—
(13,824,742)
Total - Net
Global ex-U.S. Dividend Growth Fund
Common Stocks*
Exchange-Traded Funds & Notes
Total
Japan SmallCap Dividend Fund
—
$11,298,513,697
$101,776,618
$—
Level 1
Level 2
Level 3
$60,971,146
$—
$—
745,028
—
—
$61,716,174
$—
$—
Level 1
Level 2
Level 3
$279,872,779
$—
$—
1,469,670
—
—
$281,342,449
$—
$—
Asia Pacific ex-Japan Fund
Level 1
Level 2
Level 3
Common Stocks*
$51,032,638
$ —
$—
1,306,758
—
—
—
$52,339,396
588
$588
—
$—
Common Stocks*
Exchange-Traded Funds
Total
Exchange-Traded Notes
Rights
Total
Unrealized Appreciation on Forward Foreign Currency Contracts
—
—
—
$52,339,396
$588
$—
Australia Dividend Fund
Level 1
Level 2
Level 3
Common Stocks*
$54,578,210
$—
$—
$54,578,210
$—
$—
Total - Net
Total
International LargeCap Dividend Fund
Common Stocks*
Exchange-Traded Funds
Rights
Total
Level 1
Level 2
Level 3
$313,415,856
$—
$—
243,088
—
—
30,744
—
—
$313,689,688
$—
$—
WisdomTree International Dividend and Sector Funds 179
Notes to Financial Statements (continued)
International Dividend ex-Financials Fund
Common Stocks*
Exchange-Traded Funds
Total
International MidCap Dividend Fund
Common Stocks*
Exchange-Traded Funds
Level 1
Level 2
Level 3
$347,435,008
$—
$—
668,163
—
—
$348,103,171
$—
$—
Level 1
Level 2
$139,085,231
International SmallCap Dividend Fund
Level 3
—
$—
1,238,738
—
—
—
20,247
—
$140,323,969
$20,247
$—
Rights
Total
$
Level 1
Level 2
Level 3
Common Stocks
Australia
Hong Kong
Spain
Other*
Exchange-Traded Funds
$137,727,388
Emerging Markets Equity Income Fund
Common Stocks*
Warrants
Investment of Cash Collateral for Securities Loaned
Total
8,747,255
—
85,849
—
—
6,198,112
—
—
—
—
126,137
—
913,265,971
90,000
90,000
—
1,085,385
—
(1)
$913,265,971
Level 1
$3,870,345,892
Rights
Investment of Cash Collateral for Securities Loaned
Total
Unrealized Appreciation on Forward Foreign Currency Contracts
Unrealized Depreciation on Forward Foreign Currency Contracts
Total - Net
$
Level 3
—
$—
326,194
—
—
—
3,870,672,086
2,286,181
2,286,181
—
—
146
—
—
Exchange-Traded Funds & Notes
$1,085,385
Level 2
—
Common Stocks*
—
$89,999
Unrealized Depreciation on Forward Foreign Currency Contracts
Emerging Markets SmallCap Dividend Fund
—**
729,368,595
Unrealized Appreciation on Forward Foreign Currency Contracts
Total - Net
$
873,399
Unrealized Depreciation on Forward Foreign Currency Contracts
Total - Net
—
—
Rights
Investment of Cash Collateral for Securities Loaned
Total
$
31,224,621
(14,290)
—
$3,870,672,086
$2,272,037
$—
Level 1
Level 2
Level 3
$1,783,270,635
$
—
$—
22,535,048
—
—
—
—
—**
—
1,805,805,683
919,582
919,582
—
—
—
7,900
—
—
$1,805,805,683
(23,009)
—
$904,473
$—
Middle East Dividend Fund
Level 1
Common Stocks*
$52,988,743
$
—
$—
Convertible Bond
Total
—
$52,988,743
12,813
$12,813
—
$—
Unrealized Appreciation on Forward Foreign Currency Contracts
Total - Net
—
$52,988,743
—
$12,813
—
$—
180 WisdomTree International Dividend and Sector Funds
Level 2
Level 3
Notes to Financial Statements (continued)
Europe Hedged Equity Fund
Common Stocks*
Level 1
Level 2
—
$—
1,607,646
1,057,835,593
—
—
—
—
Unrealized Appreciation on Forward Foreign Currency Contracts
—
2,174,006
Unrealized Depreciation on Forward Foreign Currency Contracts
—
Rights
Total
Total - Net
Commodity Country Equity Fund
Common Stocks*
Exchange-Traded Funds & Notes
$1,056,227,947
Level 3
Global Natural Resources Fund
Common Stocks*
Exchange-Traded Funds
Total
Global ex-U.S. Utilities Fund
Common Stocks*
Exchange-Traded Notes
Rights
Total
Global ex-U.S. Real Estate Fund
Common Stocks*
Exchange-Traded Funds
—
—
$2,006,773
$—
Level 1
Level 2
Level 3
$21,371,609
$ —
$—
11,058
—
—
—
467
—
$21,382,667
$467
$—
Level 1
Level 2
Level 3
$22,143,040
$—
$—
181,819
—
—
$22,324,859
$—
$—
Level 1
Level 2
Level 3
$29,885,565
$ —
$—
267,621
—
—
—
30,153,186
899
899
—
—
Unrealized Depreciation on Forward Foreign Currency Contracts
Total - Net
(167,233)
$1,057,835,593
Rights
Total
$
—
(1)
$30,153,186
—
$898
Level 1
$—
Level 2
$126,810,798
$
Level 3
—
$—
312,524
—
—
Rights
Hong Kong
—
67,770
—
91,084
127,214,406
—
67,770
—
—
Unrealized Appreciation on Forward Foreign Currency Contracts
—
2,465
—
Unrealized Depreciation on Forward Foreign Currency Contracts
—
United Kingdom
Total
Total - Net
China Dividend ex-Financials Fund
Common Stocks*
Total
United Kingdom Hedged Equity Fund
Common Stocks*
(497)
$127,214,406
$69,738
$—
Level 1
Level 2
Level 3
$17,394,303
$—
$—
$17,394,303
$—
$—
Level 1
Level 2
$16,491,933
Unrealized Appreciation on Forward Foreign Currency Contracts
—
Unrealized Depreciation on Forward Foreign Currency Contracts
—
Total - Net
—
$16,491,933
$
Level 3
—
$—
120,304
—
(118)
$120,186
—
$—
WisdomTree International Dividend and Sector Funds 181
Notes to Financial Statements (continued)
Japan Hedged SmallCap Equity Fund
Common Stocks*
Level 1
Level 2
$74,581,515
Unrealized Appreciation on Forward Foreign Currency Contracts
—
Unrealized Depreciation on Forward Foreign Currency Contracts
—
Total - Net
$—
—
(1,599)
—
$625,489
$—
Level 1
Level 2
Level 3
$19,349,593
$—
$—
511,535
—
—
$19,861,128
$—
$—
Level 1
Level 2
Level 3
$—
Exchange-Traded Notes
Total
—
627,088
$74,581,515
Emerging Markets Dividend Growth Fund
Common Stocks*
$
Level 3
Emerging Markets Consumer Growth Fund
Common Stocks
Russia
Other*
Preferred Stocks
Exchange-Traded Notes
Total
$
311,170
$1,371
18,847,377
—
—
2,372
—
—
400,158
19,561,077
—
1,371
—
—
Unrealized Depreciation on Forward Foreign Currency Contracts
Total - Net
Germany Hedged Equity Fund
Common Stocks*
—
$19,561,077
Level 3
—
$9,423,984
Korea Hedged Equity Fund
Level 1
Common Stocks*
$8,148,117
Unrealized Appreciation on Forward Foreign Currency Contracts
—
Unrealized Depreciation on Forward Foreign Currency Contracts
Total - Net
Level 2
$
—
Unrealized Depreciation on Forward Foreign Currency Contracts
—
$—
Level 1
$9,423,984
Unrealized Appreciation on Forward Foreign Currency Contracts
Total - Net
(29)
$1,342
—
$—
19,816
—
(113)
—
$19,703
$—
Level 2
Level 3
$
—
$—
9,583
—
—
(41,524)
—
$8,148,117
$(31,941)
$—
* Please refer to Schedule of Investments for a breakdown of the valuation by industry type and country.
** Includes Level 3 security valued at $0. Security is being fair valued by the Pricing Committee under the direction of the Board of Trustees.
No transfers between Level 1 or Level 2 fair value measurements occurred during the fiscal year or period ended March 31, 2014. Transfers
into Level 3 during the fiscal year or period ended March 31, 2014 occurred primarily due to the lack of observable market data. The Funds
have elected to use the beginning of period method for transfers between fair value measurement levels.
Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures
about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative
instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in
derivatives, specifically forward foreign currency contracts for the year ended March 31, 2014 which are detailed in the tables herein.
The Funds’ derivative agreements contain credit-risk related contingent features which include, but are not limited to, a percentage
decline in the Funds’ NAV over a specified time period. If an event occurred at March 31, 2014 that triggered a contingent feature,
the counterparty to the agreement may require the Funds to post additional collateral or terminate the derivative positions and
demand payment. Any collateral posted with respect to the derivative positions would be used to offset or reduce the payment. The
maximum exposure to derivatives agreements with credit-risk related contingent features would be the total value of
derivatives in net liability positions for each Fund, as disclosed on page 193. At March 31, 2014, the Funds did not receive or post
collateral with any counterparty for derivatives and no event occurred that triggered a credit-risk-related contingent feature.
The Funds listed below have invested in derivatives, specifically forward foreign currency contracts for the fiscal year or period ended
March 31, 2014, which are detailed in the table herein. All of the derivative instruments disclosed and described herein are subject to
182 WisdomTree International Dividend and Sector Funds
Notes to Financial Statements (continued)
credit risk. Credit risk is where the financial condition of an issuer of a security or instrument may cause it to default or become
unable to pay interest or principal due on the investment. Risks may arise upon entering into forward foreign currency contracts
from the potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of
foreign currencies relative to the U.S. dollar or each other.
The effect of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are
presented in the summary below:
Asset Derivatives
Fund
Europe SmallCap Dividend Fund
Foreign exchange contracts
Japan Hedged Equity Fund
Foreign exchange contracts
Asia Pacific ex-Japan Fund
Foreign exchange contracts
International SmallCap Dividend Fund
Foreign exchange contracts
Emerging Markets Equity Income Fund
Foreign exchange contracts
Emerging Markets SmallCap Dividend
Fund
Foreign exchange contracts
Middle East Dividend Fund
Foreign exchange contracts
Europe Hedged Equity Fund
Foreign exchange contracts
Global ex-U.S. Utilities Fund
Foreign exchange contracts
Global ex-U.S. Real Estate Fund
Foreign exchange contracts
United Kingdom Hedged Equity Fund
Foreign exchange contracts
Japan Hedged SmallCap Equity Fund
Foreign exchange contracts
Emerging Markets Consumer Growth Fund
Foreign exchange contracts
Germany Hedged Equity Fund
Foreign exchange contracts
Korea Hedged Equity Fund
Foreign exchange contracts
Liability Derivatives
Balance Sheet Location
Unrealized appreciation on
forward foreign currency contracts
Value
Balance Sheet Location
Value
—
Unrealized depreciation on
forward foreign currency contracts
Unrealized appreciation on
forward foreign currency contracts
115,601,360
Unrealized depreciation on
forward foreign currency contracts
13,824,742
Unrealized appreciation on
forward foreign currency contracts
—
Unrealized depreciation on
forward foreign currency contracts
—
Unrealized appreciation on
forward foreign currency contracts
—
Unrealized depreciation on
forward foreign currency contracts
1
Unrealized appreciation on
forward foreign currency contracts
146
Unrealized depreciation on
forward foreign currency contracts
14,290
Unrealized appreciation on
forward foreign currency contracts
7,900
Unrealized depreciation on
forward foreign currency contracts
23,009
Unrealized appreciation on
forward foreign currency contracts
—
Unrealized depreciation on
forward foreign currency contracts
—
Unrealized appreciation on
forward foreign currency contracts
2,174,006
Unrealized depreciation on
forward foreign currency contracts
167,233
Unrealized appreciation on
forward foreign currency contracts
—
Unrealized depreciation on
forward foreign currency contracts
1
Unrealized appreciation on
forward foreign currency contracts
2,465
Unrealized depreciation on
forward foreign currency contracts
497
Unrealized appreciation on
forward foreign currency contracts
120,304
Unrealized depreciation on
forward foreign currency contracts
118
Unrealized appreciation on
forward foreign currency contracts
627,088
Unrealized depreciation on
forward foreign currency contracts
1,599
Unrealized appreciation on
forward foreign currency contracts
—
Unrealized depreciation on
forward foreign currency contracts
29
Unrealized appreciation on
forward foreign currency contracts
19,816
Unrealized depreciation on
forward foreign currency contracts
113
Unrealized appreciation on
forward foreign currency contracts
9,583
Unrealized depreciation on
forward foreign currency contracts
41,524
$
$
8,424
WisdomTree International Dividend and Sector Funds 183
Notes to Financial Statements (continued)
The effect of such derivative instruments on each Fund’s financial performance as reflected in the Statements of Operations are
presented in the summary below:
Net realized and unrealized gains/losses associated with derivatives for the year or period ended March 31, 2014 are as follows:
Fund
DEFA Fund
Foreign exchange contracts
Amount of Realized Gain or
(Loss) Recognized1
$
(59,087)
Change in Unrealized
Appreciation or
(Depreciation) Derivatives
Recognized2
$
563
DEFA Equity Income Fund
Foreign exchange contracts
(61,961)
152
Global Equity Income Fund
Foreign exchange contracts
(27,279)
298
Europe SmallCap Dividend Fund
Foreign exchange contracts
Japan Hedged Equity Fund
Foreign exchange contracts
Global ex-U.S. Dividend Growth Fund
Foreign exchange contracts
Japan SmallCap Dividend Fund
Foreign exchange contracts
33,364
624,889,895
(8,424)
36,596,589
(163,005)
—
74,828
36
Asia Pacific ex-Japan Fund
Foreign exchange contracts
(22,543)
—
Australia Dividend Fund
Foreign exchange contracts
1,208
—
International LargeCap Dividend Fund
Foreign exchange contracts
International Dividend ex-Financials Fund
Foreign exchange contracts
International MidCap Dividend Fund
Foreign exchange contracts
(102,339)
339
(11,327)
203
53,381
45
International SmallCap Dividend Fund
Foreign exchange contracts
679,695
3,065
Emerging Markets Equity Income Fund
Foreign exchange contracts
2,777,973
(15,855)
Emerging Markets SmallCap Dividend Fund
Foreign exchange contracts
686,360
(4,416)
Middle East Dividend Fund
Foreign exchange contracts
(29,478)
133
(29,599,023)
1,448,672
Europe Hedged Equity Fund
Foreign exchange contracts
Commodity Country Equity Fund
Foreign exchange contracts
7,870
21
Global Natural Resources Fund
Foreign exchange contracts
(26,558)
(173)
Global ex-U.S. Utilities Fund
Foreign exchange contracts
14,211
(67)
Global ex-U.S. Real Estate Fund
Foreign exchange contracts
68,545
China Dividend ex-Financials Fund
Foreign exchange contracts
(2,205)
—
(2,541,392)
120,186
United Kingdom Hedged Equity Fund3
Foreign exchange contracts
Japan Hedged SmallCap Equity Fund3
Foreign exchange contracts
140,603
Emerging Markets Dividend Growth Fund4
Foreign exchange contracts
(16,015)
184 WisdomTree International Dividend and Sector Funds
2,758
625,489
—
Notes to Financial Statements (continued)
Change in Unrealized
Appreciation or
(Depreciation) Derivatives
Recognized2
Amount of Realized Gain or
(Loss) Recognized1
Fund
Emerging Markets Consumer Growth Fund5
Foreign exchange contracts
$
Germany Hedged Equity Fund6
Foreign exchange contracts
(8,752)
$
(29)
(177,253)
19,703
(31,835)
(31,941)
Fund7
Korea Hedged Equity
Foreign exchange contracts
1
Realized gains (losses) on derivatives are located on the Statement of Operations as follows:
Foreign exchange contracts
2
Change in unrealized appreciation (depreciation) is located on the Statement of Operations as follows:
Foreign exchange contracts
3
4
5
6
7
Net realized gain (loss) from forward foreign currency contracts and
foreign currency related transactions
Net change in unrealized appreciation (depreciation) from forward foreign
currency contracts and translation of assets and liabilities denominated in
foreign currencies
For the period June 28, 2013 through March 31, 2014.
For the period August 1, 2013 through March 31, 2014.
For the period September 27, 2013 through March 31, 2014.
For the period October 17, 2013 through March 31, 2014.
For the period November 7, 2013 through March 31, 2014.
During the fiscal year or period ended March 31, 2014, the volume of derivative activity (based on the average of month-end
balances) for the Funds was as follows:
Average Notional
Fund
Forward foreign
currency contracts
(to deliver)
Forward foreign
currency contracts
(to receive)
DEFA Fund
Forward exchange contracts
$
274,371
$
82,654
DEFA Equity Income Fund
Forward exchange contracts
$
152,895
$
85,054
Global Equity Income Fund
Forward exchange contracts
$
63,043
$
47,061
Europe SmallCap Dividend Fund
Forward exchange contracts
$
268,550
$
289,353
Japan Hedged Equity Fund
Forward exchange contracts
$5,903,617,585
$16,384,050,452
Global ex-U.S. Dividend Growth Fund
Forward exchange contracts
$
17,468
$
22,021
Japan SmallCap Dividend Fund
Forward exchange contracts
$
3,553
$
49,349
Asia-Pacific ex-Japan Fund
Forward exchange contracts
$
—
$
13,162
Australia Dividend Fund
Forward exchange contracts
$
—
$
3,573
International LargeCap Dividend Fund
Forward exchange contracts
$
161,999
$
117,398
International Dividend ex-Financials Fund
Forward exchange contracts
$
129,429
$
73,116
International MidCap Dividend Fund
Forward exchange contracts
$
57,015
$
23,716
International SmallCap Dividend Fund
Forward exchange contracts
$
255,281
$
314,119
Emerging Markets Equity Income Fund
Forward exchange contracts
$
1,587,016
$
3,365,689
WisdomTree International Dividend and Sector Funds 185
Notes to Financial Statements (continued)
Average Notional
Forward foreign
currency contracts
(to deliver)
Fund
Forward foreign
currency contracts
(to receive)
Emerging Markets SmallCap Dividend Fund
Forward exchange contracts
$
3,464,105
$
956,475
Middle East Dividend Fund
Forward exchange contracts
$
279,352
$
12,016
Europe Hedged Equity Fund
Forward exchange contracts
$322,863,901
$828,370,978
Commodity Country Equity Fund
Forward exchange contracts
$
5,173
$
26,984
Global Natural Resources Fund
Forward exchange contracts
$
23,166
$
24,473
Global ex-U.S. Utilities Fund
Forward exchange contracts
$
52,139
$
60,243
Global ex-U.S. Real Estate Fund
Forward exchange contracts
$
110,544
$
61,327
China Dividend ex-Financials Fund
Forward exchange contracts
$
—
$
115
United Kingdom Hedged Equity Fund1
Forward exchange contracts
$ 14,955,601
$ 38,986,949
$ 24,422,214
$ 59,294,739
$
53,073
$
7,440
$
73,251
$
3,576
$
5,323,330
$ 12,653,175
$
4,284,049
$
Japan Hedged SmallCap Equity
Forward exchange contracts
Fund1
Emerging Markets Dividend Growth Fund2
Forward exchange contracts
Emerging Market Consumer Growth
Forward exchange contracts
Fund3
Germany Hedged Equity Fund4
Forward exchange contracts
Fund5
Korea Hedged Equity
Forward exchange contracts
1
2
3
4
5
9,705,944
For the period June 28, 2013 through March 31, 2014.
For the period August 1, 2013 through March 31, 2014.
For the period September 27, 2013 through March 31, 2014.
For the period October 17, 2013 through March 31, 2014.
For the period November 7, 2013 through March 31, 2014.
Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are
purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost
method. Dividend income is recognized on the ex-dividend date, net of any foreign taxes withheld. Interest income including
amortization of premiums and discounts, is accrued daily. The value of additional securities received as dividend payments is
recorded as income and as an increase to the cost basis of such securities.
Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as
investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using
exchange rates prevailing on the respective dates of such transactions that are deemed, appropriate by WTAM. Realized and
unrealized foreign exchange gains and losses on investments are included as a component of net realized gain (loss) from
investment transactions and net change in unrealized appreciation (depreciation) from investment transactions, respectively, on the
Statement of Operations. Net realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies,
including gains and losses of forward foreign currency contracts, currency gains or losses recognized between the trade and
settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes
recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in net realized
gain (loss) from forward foreign currency contracts and foreign currency related transactions and/or net change in unrealized
appreciation (depreciation) from forward foreign currency contracts and translation of assets and liabilities denominated in foreign
currencies in the Statement of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or
losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.
Expenses/Reimbursements — Under the investment advisory agreement for each Fund, except Japan Hedged SmallCap Equity
Fund, United Kingdom Hedged Equity Fund, Emerging Markets Dividend Growth Fund, Emerging Markets Consumer Growth
186 WisdomTree International Dividend and Sector Funds
Notes to Financial Statements (continued)
Fund, Germany Hedged Equity Fund, and Korea Hedged Equity Fund, WTAM has agreed to pay all expenses of the Trust, except
for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in
connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or
pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses
of trustees who are not interested persons of the Funds (“Independent Trustees”); (iv) compensation and expenses of counsel to the
Independent Trustees; (v) compensation and expenses of the Trust’s Chief Compliance Officer (“CCO”); (vi) extraordinary
expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under
the 1940 Act; and (viii) the advisory fee payable to WTAM. The internal expenses of pooled investment vehicles in which a Fund may
invest (acquired fund fees and expenses) are not expenses of the Fund and are not paid by WTAM.
Under the investment advisory agreement for Japan Hedged SmallCap Equity Fund, United Kingdom Hedged Equity Fund,
Emerging Markets Dividend Growth Fund, Emerging Markets Consumer Growth Fund, Germany Hedged Equity Fund, and Korea
Hedged Equity Fund, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other fees, charges,
taxes, levies or expenses (such as stamp taxes) incurred in connection with the execution of portfolio transactions or in connection
with creation and redemption transactions (including without limitation any fees, charges, taxes, levies or expenses related to the
purchase or sale of an amount of any currency, or the patriation or repatriation of any security or other asset, related to the
execution of portfolio transactions or any creation or redemption transactions); (ii) legal fees or expenses in connection with any
arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith;
(iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent
Trustees; (v) compensation and expenses of the Trust’s CCO; (vi) extraordinary expenses (in each case as determined by a majority
of the Independent Trustees); (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to
Rule 12b-1 under the 1940 Act; (viii) interest and taxes of any kind or nature (including, but not limited to, income, excise, transfer
and withholding taxes); (ix) fees and expenses related to the provision of securities lending services; and (x) the advisory fee payable
to WTAM.
The internal expenses of pooled investment vehicles in which the Fund may invest (acquired fund fees and expenses) are not
expenses of the Fund and are not paid by WTAM.
Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund, and is
liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent
Trustees. WTAM receives a fee, as shown on the Statements of Operations under “Service fees”, of up to 0.0044% of each Fund’s
average daily net assets for providing such services and paying such expenses. WTAM provides CCO services to the Trust.
Currency Transactions — The Funds may enter into forward foreign currency contracts to facilitate local securities settlements or to
protect against currency exposure in connection with distributions to shareholders. The Funds, other than Japan Hedged Equity
Fund, Europe Hedged Equity Fund, United Kingdom Hedged Equity Fund, Japan Hedged SmallCap Equity Fund, Germany Hedged
Equity Fund, and Korea Hedged Equity Fund, do not expect to engage in currency transactions for the purpose of hedging against
declines in the value of a Fund’s assets that are denominated in one or more foreign currencies. The Funds may not enter into such
contracts for speculative purposes.
Forward Foreign Currency Contracts — A forward foreign currency contract (“Forward Contract”) involves an obligation to purchase
or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the
parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly
between currency traders (usually large, commercial banks) and their customers. A Forward Contract generally has no margin
deposit requirement, and no commissions are charged at any stage for trades.
Fluctuations in the value of open Forward Contracts are recorded for book purposes as unrealized gains or losses on Forward
Contracts by the Funds. Realized gains and losses on Forward Contracts include net gains or losses recognized by the Funds on
contracts which have matured or were sold.
The following Forward Contracts were open at March 31, 2014:
Fund
Contracts
To Deliver
Settlement Date
In
Exchange For
Unrealized
Gain (Loss)
Europe SmallCap Dividend Fund
4/2/2014
EUR
2,500,000
USD
3,437,200
$
JPY
42,457,211
JPY 111,662,706,667
JPY 110,276,841,900
USD
USD
USD
413,032
1,093,813,401
1,078,764,823
$
(8,424)
Japan Hedged Equity Fund
4/1/2014
4/3/2014
4/3/2014
767
9,545,516
7,953,971
WisdomTree International Dividend and Sector Funds 187
Notes to Financial Statements (continued)
Fund
Japan Hedged Equity Fund (continued)
188 WisdomTree International Dividend and Sector Funds
Contracts
To Deliver
Settlement Date
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
107,770,550,039
112,783,113,762
131,146,230,668
176,564,601,604
111,952,962,122
107,857,659,000
153,786,076,121
117,674,116,421
486,578,915
490,169,297
37,940,816
9,570,724
35,423,284
14,239,727
19,031,480
28,660,857
62,181,147
110,092,544
40,355,435
21,359,819
14,148,241
88,098,493
19,005,399
57,069,763
71,450,046
7,077,894
81,399,117
1,043,580,421
1,068,789,464
905,716,098
1,095,194,540
1,273,449,829
1,070,583,224
1,084,103,948
1,541,407,344
116,904,679
1,140,258,591
1,087,449,851
42,777,929
107,770,550,039
110,276,841,900
93,273,813,729
112,783,133,762
131,146,230,668
110,253,049,765
111,662,706,667
158,741,835,307
111,952,962,122
117,674,116,421
In
Exchange For
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
JPY
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
1,055,576,397
1,105,001,996
1,285,104,807
1,730,168,903
1,097,510,273
1,056,898,544
1,506,938,386
1,152,911,634
4,720,699
4,744,471
3,871,879,262
970,637,947
3,617,425,722
1,456,956,213
1,963,529,149
2,943,868,385
6,349,944,991
11,169,450,050
4,100,959,656
2,168,957,177
1,448,610,137
9,006,115,159
1,944,508,909
5,838,379,415
7,297,257,479
728,478,106
8,382,806,662
107,770,550,039
110,276,841,900
93,273,813,729
112,783,133,762
131,146,230,668
110,253,049,765
111,662,706,667
158,741,835,307
12,039,428,379
117,674,116,421
111,952,962,122
4,404,676,501
1,043,760,327
1,068,981,132
905,856,836
1,095,380,685
1,273,665,023
1,070,759,978
1,084,282,908
1,541,690,278
1,087,636,846
1,140,451,982
Unrealized
Gain (Loss)
$
9,102,155
9,854,534
11,647,891
15,690,249
10,423,948
9,578,456
13,643,905
10,271,722
(4,084)
(15,174)
(344,071)
(145,630)
(297,335)
(92,382)
34,793
(75,288)
(521,873)
(1,634,883)
(534,272)
(298,798)
(81,939)
(647,260)
(123,817)
(377,896)
(592,172)
(4,222)
(790)
2,893,821
2,021,388
(8,152)
(47,078)
7,087
(3,398)
163,936
8,578
651
2,381,321
(363,526)
373
(2,909,303)
(2,029,651)
(20,215)
28,747
(29,661)
(19,736)
(187,421)
(13,443)
347,551
(2,401,272)
$101,776,618
Notes to Financial Statements (continued)
Fund
Contracts
To Deliver
Settlement Date
In
Exchange For
Unrealized
Gain (Loss)
Asia Pacific ex-Japan Fund
4/2/2014
THB
2,524
USD
78
$
0
4/1/2014
USD
9,236
GBP
5,539
$
(1)
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/2/2014
4/2/2014
4/2/2014
HUF
49,474,460
PLN
2,012,603
PLN
2,700,000
USD
1,509,331
USD
184,587
HUF 141,708,053
PLN
905,738
USD
843,316
USD
USD
USD
HKD
TWD
USD
USD
THB
218,717
663,962
890,821
11,709,088
5,619,197
631,179
298,501
27,331,864
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/2/2014
4/2/2014
4/2/2014
4/2/2014
4/2/2014
4/2/2014
4/2/2014
4/2/2014
4/2/2014
4/2/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
BRL
488,513
BRL
267,383
HUF 144,854,599
THB
3,933,201
USD
1,972,000
USD
1,971,180
USD
5,162,298
ZAR
1,333,766
BRL
204,680
BRL
595,983
HUF 214,000,000
HUF 200,904,526
THB
3,453,891
USD
730,467
USD
292,106
USD
108,895
USD
1,753,173
USD
1,197,734
USD
54,592
THB
4,456,778
USD
1,426,660
USD
55,136
USD
586,677
USD
425,531
USD
221,097
USD
277,489
USD
215,536
USD
117,894
USD
645,894
USD
120,910
KRW 2,098,602,670
KRW 2,100,489,539
TWD
157,150,679
USD
126,071
USD
90,315
USD
263,243
USD
953,942
USD
895,367
USD
106,503
BRL
1,650,855
BRL
659,575
BRL
245,776
MYR
5,720,603
THB
38,818,549
BRL
122,973
USD
137,089
BRL
3,219,257
BRL
124,387
BRL
1,324,717
BRL
965,360
BRL
500,563
THB
8,979,537
(955)
(601)
(3,520)
(335)
(463)
2,129
(1,780)
(738)
(392)
(875)
(5,465)
(5,330)
33
1,133
194
24
(1,341)
(1,108)
(94)
296
—
(12)
390
2,282
735
684
$ (15,109)
4/1/2014
AED
77,177
USD
21,012
$
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
EUR
EUR
EUR
EUR
EUR
EUR
149,786,034
36,715,734
170,112,725
149,786,032
190,456,858
16,183,632
USD
USD
USD
USD
USD
USD
206,870,989
50,708,835
234,944,386
206,873,084
263,040,348
22,351,586
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
$ (3,087)
(2,154)
(2,805)
146
(64)
(4,127)
(1,273)
(780)
$ (14,144)
Emerging Markets SmallCap Dividend Fund
$
Middle East Dividend Fund
0
Europe Hedged Equity Fund
$428,941
105,511
487,150
431,036
543,884
46,555
WisdomTree International Dividend and Sector Funds 189
Notes to Financial Statements (continued)
Fund
Europe Hedged Equity Fund (continued)
Contracts
To Deliver
Settlement Date
In
Exchange For
Unrealized
Gain (Loss)
$ (52,913)
130,929
(217)
(61,894)
(36,696)
(1,501)
(815)
(552)
(304)
(277)
(135)
(11)
(4,192)
(2,087)
(3,960)
(1,130)
(438)
(111)
$2,006,773
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
5/6/2014
5/6/2014
5/6/2014
5/6/2014
5/6/2014
5/6/2014
EUR
EUR
EUR
EUR
EUR
USD
USD
USD
USD
USD
USD
USD
EUR
EUR
EUR
EUR
EUR
EUR
12,244,497
10,068,572
6,104,037
14,240,688
12,247,171
1,975,180
304,665,695
206,442,601
248,334,512
226,069,499
50,603,460
22,305,042
222,395,416
150,695,954
181,275,862
165,023,149
36,938,774
16,281,944
USD
USD
USD
USD
USD
EUR
EUR
EUR
EUR
EUR
EUR
EUR
USD
USD
USD
USD
USD
USD
16,823,021
14,007,901
8,412,651
19,565,281
16,842,922
1,432,018
221,052,563
149,786,034
180,181,297
164,026,720
36,715,734
16,183,632
306,493,131
207,681,629
249,823,879
227,427,808
50,907,245
22,439,075
4/1/2014
HKD
87,985
USD
11,341
$
(1)
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
4/1/2014
CAD
CAD
CAD
CAD
CAD
CAD
CAD
CAD
177,960
181,135
207,729
352,114
47,952
51,082
108,027
269,000
AUD
EUR
GBP
HKD
MXN
NZD
SGD
USD
174,187
119,505
113,362
2,476,477
567,366
53,336
123,817
243,217
$
213
600
789
239
36
2
586
(497)
1,968
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
$
United Kingdom Hedged Equity Fund
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
5/6/2014
5/6/2014
5/6/2014
5/6/2014
GBP
GBP
GBP
GBP
USD
USD
USD
USD
USD
USD
GBP
GBP
GBP
GBP
3,299,119
3,299,122
3,193,969
3,299,123
4,087,089
156,962
5,324,793
5,500,087
1,401,848
5,500,133
2,999,856
3,098,615
789,768
3,098,621
USD
USD
USD
USD
GBP
GBP
GBP
GBP
GBP
GBP
USD
USD
USD
USD
5,527,608
5,527,603
5,351,335
5,527,648
2,458,250
94,151
3,193,969
3,299,119
840,872
3,299,123
4,999,920
5,164,536
1,316,324
5,164,565
$
27,525
27,516
26,553
27,558
11,150
1
(11)
(4)
1
(44)
(31)
(20)
(7)
(1)
$ 120,186
JPY 1,951,300,787
JPY 1,951,300,787
JPY 1,945,475,874
USD
USD
USD
19,120,933
19,120,933
19,063,742
$ 173,401
173,401
172,771
Japan Hedged SmallCap Equity Fund
4/3/2014
4/3/2014
4/3/2014
190 WisdomTree International Dividend and Sector Funds
Notes to Financial Statements (continued)
Fund
Japan Hedged SmallCap Equity Fund (continued)
Contracts
To Deliver
Settlement Date
In
Exchange For
Unrealized
Gain (Loss)
$103,968
3,379
(6)
(221)
(60)
105
63
(555)
(354)
(168)
(235)
$625,489
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
5/7/2014
5/7/2014
5/7/2014
5/7/2014
JPY
JPY
USD
USD
USD
USD
USD
JPY
JPY
JPY
JPY
1,170,990,134
582,986,755
573,368
24,552,114
18,947,593
18,947,427
11,370,492
2,564,838,144
1,979,373,011
1,979,373,011
1,187,836,487
USD
USD
JPY
JPY
JPY
JPY
JPY
USD
USD
USD
USD
11,474,524
5,664,300
59,047,697
2,528,462,629
1,951,300,787
1,951,300,787
1,170,990,134
24,909,201
19,223,354
19,223,541
11,536,056
4/1/2014
4/1/2014
4/2/2014
4/2/2014
BRL
BRL
BRL
BRL
6,410
2,701
1,101
5,406
USD
USD
USD
USD
2,828
1,191
486
2,388
Emerging Markets Consumer Growth Fund
$
$
(13)
(6)
(2)
(8)
(29)
Germany Hedged Equity Fund
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
5/6/2014
5/6/2014
5/6/2014
EUR
EUR
EUR
USD
USD
USD
EUR
EUR
EUR
2,279,716
2,279,714
2,348,795
3,142,019
3,142,011
3,237,222
2,268,435
2,268,431
2,337,171
USD
USD
USD
EUR
EUR
EUR
USD
USD
USD
3,148,539
3,148,536
3,243,977
2,279,716
2,279,714
2,348,795
3,126,244
3,126,220
3,220,989
$
6,528
6,528
6,760
(8)
(4)
(4)
(31)
(50)
(16)
$ 19,703
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
4/3/2014
5/8/2014
5/8/2014
5/8/2014
KRW
KRW
KRW
USD
USD
USD
KRW
KRW
KRW
2,982,378,219
2,894,661,213
2,894,661,215
2,719,396
2,719,396
2,801,802
2,858,242,711
2,858,242,710
2,944,856,125
USD
USD
USD
KRW
KRW
KRW
USD
USD
USD
2,789,042
2,707,062
2,702,967
2,894,661,215
2,894,661,213
2,982,378,219
2,680,650
2,680,650
2,761,881
$ (9,538)
(9,207)
(13,303)
(3,127)
(3,127)
(3,222)
3,162
3,162
3,259
$ (31,941)
Korea Hedged Equity Fund
Currency Legend:
AED – United Arab Emirates dirham
AUD – Australian dollar
BRL – Brazilian real
CAD – Canadian dollar
EUR – Euro
GBP – British pound
HKD – Hong Kong dollar
HUF – Hungarian forint
JPY – Japanese yen
KRW – South Korean won
MXN – Mexican peso
MYR – Malaysian ringgit
NZD – New Zealand dollar
PLN – Polish zloty
WisdomTree International Dividend and Sector Funds 191
Notes to Financial Statements (continued)
SGD – Singapore dollar
THB – Thai baht
TWD – New Taiwan dollar
USD – U.S. dollar
ZAR – South African rand
Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities
lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S.
securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high grade debt
obligations, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be
invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The value of the
investment of cash collateral for securities on loan along with the obligation to return such collateral are included on the Statements
of Assets and Liabilities. The value of securities received as collateral for securities on loan are not included on the Statement of
Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. Each
Fund receives compensation for lending its securities from interest or dividends earned on the cash or U.S. government securities
held as collateral, net of fee rebates paid to the borrower plus reasonable administrative and custody fees. The securities lending
income earned by the Funds is disclosed on the Statements of Operations. The dividend and interest income earned on the
securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an
amount equal to any dividends or interest received on loaned securities. The Funds retain all or a portion of the interest received on
investment of cash collateral or receive a fee from the borrower. Lending portfolio securities could result in a loss or delay in
recovering each Fund’s securities if the borrower defaults.
Master Netting Arrangements — Accounting Standards Update No. 2011-11 “Disclosures about Offsetting Assets and Liabilities”
(“ASU 2011-11”) is generally intended to (i) help investors and other financial statement users to better assess the effect or potential
effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies
mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of
GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards.
ASU 2011-11 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in
the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement.
ASU 2011-11 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or
subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for
under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities
borrowing and securities lending transactions.
In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund may
enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar
agreement with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that
governs over-the-counter derivatives (“OTC”), including forward foreign currency contracts, and typically contains, among other
things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an
ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial
instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a
single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the
counterparty.
Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g. foreign
exchange contracts, options and certain swaps). Generally, for transactions traded under an ISDA Master Agreement, the collateral
requirements are calculated by netting the marked to market amount for each transaction under such agreement and comparing
that amount to the value of any collateral currently pledged by a Fund and the counterparty. Generally, the amount of collateral due
from or to a counterparty must exceed a minimum transfer amount threshold before a transfer is required to be made. To the extent
amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the
risk of loss from counterparty non-performance.
A Fund’s security lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between
the Fund and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities
held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower,
collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of
the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all
of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its
obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the
securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market
fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is
insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower.
192 WisdomTree International Dividend and Sector Funds
Notes to Financial Statements (continued)
For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending
Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in
the Statements of Assets and Liabilities. As of March 31, 2014, the impact of netting of assets and liabilities and the offsetting of
collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending
Agreement are detailed in the following table:
Assets
Fund
Gross Amounts
Presented in the
Statements of
Assets and
Liabilities
Liabilities
Gross Amounts Not Offset
in Statement of
Assets and Liabilities
Financial
Instruments
Collateral
Received
Net Amount
Europe SmallCap Dividend Fund
Forward Foreign Currency Contracts
$
— $
— $
— $
—
Japan Hedged Equity Fund
Forward Foreign Currency Contracts
115,601,360 (1,291,651)
— 114,309,709
Asia Pacific ex-Japan Fund
Forward Foreign Currency Contracts
—
—
—
—
International SmallCap Dividend Fund
Securities Lending
84,532
—
(84,532)1
—
Forward Foreign Currency Contracts
—
—
—
—
Emerging Markets Equity Income Fund
Securities Lending
2,079,082
— (2,079,082)1
—
Forward Foreign Currency Contracts
146
—
—
146
Emerging Markets SmallCap Dividend Fund
Securities Lending
836,280
—
(836,280)1
—
Forward Foreign Currency Contracts
7,900
—
—
7,900
Middle East Dividend Fund
Forward Foreign Currency Contracts
—
—
—
—
Europe Hedged Equity Fund
Forward Foreign Currency Contracts
2,174,006
(160,771)
—
2,013,235
Global ex-U.S. Utilities Fund
Forward Foreign Currency Contracts
—
—
—
—
Global ex-U.S. Real Estate Fund
Forward Foreign Currency Contracts
2,465
—
—
2,465
United Kingdom Hedged Equity Fund
Forward Foreign Currency Contracts
120,304
(52)
—
120,252
Japan Hedged SmallCap Equity Fund
Forward Foreign Currency Contracts
627,088
(403)
—
626,685
Emerging Markets Consumer Growth Fund
Forward Foreign Currency Contracts
—
—
—
—
Germany Hedged Equity Fund
Forward Foreign Currency Contracts
19,816
(59)
—
19,757
Korea Hedged Equity Fund
Forward Foreign Currency Contracts
9,583
(3,258)
—
6,325
1
Gross Amounts Not Offset
Gross Amounts
in Statement of
Presented in the
Assets and Liabilities
Statements of
Assets and
Financial
Collateral
Liabilities
Instruments
Pledged
$
8,424 $
13,824,742
—
(1,291,651)
$
—
Net Amount
$
8,424
—
12,533,091
—
—
—
—
—
1
—
—
—
—
—
1
—
14,290
—
—
—
—
—
14,290
—
23,009
—
—
—
—
—
23,009
—
—
—
—
—
6,462
167,233
(160,771)
1
—
—
1
497
—
—
497
118
(52)
—
66
1,599
(403)
—
1,196
29
—
—
29
113
(59)
—
54
41,524
(3,258)
—
38,266
The amount of collateral presented has been limited such that the net amount cannot be less than zero.
Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing
basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its
agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of
U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are shortterm negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for
specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers,
usually in connection with international transactions.
Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the
Internal Revenue Code of 1986, as amended (the “Code”). Each Fund intends to qualify for and to elect treatment as a separate
WisdomTree International Dividend and Sector Funds 193
Notes to Financial Statements (continued)
Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of each Fund to pay out dividends, if any,
to investors’ at least annually. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment
transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital
loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make
supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its
reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of
income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date.
The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance
with U.S. Federal Income Tax Regulations which may differ from GAAP. These book/tax differences are either considered
temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within
the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification.
Dividends and distributions, which exceed earnings and profit for tax purposes, are reported for tax purposes as a return of capital.
3. ADVISORY FEES AND TRANSACTIONS
WTAM has overall responsibility for the general management and administration of the Trust. WTAM also provides an investment
program for each Fund. WTAM has arranged for Mellon Capital Management Corporation (“MCM”) to provide sub-advisory services
to each of the Funds. MCM is compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency,
custody, fund accounting, fund administration, securities lending, and all other non-distribution related services necessary for the
Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the
applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds,
except for certain expenses generally described in Note 2. Prior to February 1, 2014, China Dividend ex-Financials Fund was subadvised by Old Mutual Global Index Trackers (Proprietary) Limited.
Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with
respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and
counsel to the Independent Trustees in exchange for a fee of up to 0.0044% of each Fund’s average daily net assets. WTAM expects
to receive advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets as shown in the following table:
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
194 WisdomTree International Dividend and Sector Funds
Advisory
Fee Rate
0.48%
0.58%
0.58%
0.58%
0.48%
0.58%
0.58%
0.48%
0.58%
0.48%
0.58%
0.58%
0.58%
0.63%
0.63%
0.88%
0.58%
0.58%
0.58%
0.58%
0.58%
0.63%
0.48%
0.58%
0.63%
Notes to Financial Statements (continued)
Fund
Emerging Markets Consumer Growth Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
Advisory
Fee Rate
0.63%
0.48%
0.58%
Each Fund may purchase shares of affiliated exchange-traded funds in secondary market transactions. For the fiscal year or period
ended March 31, 2014, WTAM waived its advisory fees for each Fund’s investment associated with daily uninvested cash in correlated
affiliated Funds net of any incremental costs as a result of these transactions (fund accounting, safekeeping, transaction fees, etc.)
that are paid by WTAM out of the advisory fee received from the affiliated Funds. The table below indicates the waiver amounts.
Please see Note 7 for additional information on Other Affiliated Parties and Transactions.
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
Emerging Markets Consumer Growth Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
Advisory
Fees Waived
$1,836
1,205
336
—
—
—
540
—
—
951
2,576
490
3,832
—
4,687
—
—
—
—
—
101
—
—
—
—
—
—
—
4. CAPITAL SHARE TRANSACTIONS
As of March 31, 2014, there was an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares
are issued and redeemed by each Fund only in creation units or multiples thereof. Except when aggregated in creation units, shares
of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net
Assets. The consideration for the purchase of creation units of a Fund generally consist of the in-kind contribution of a designated
portfolio of equity securities constituting a portfolio sampling representation of the securities included in the relevant Fund’s
underlying Index and an amount of cash. The Middle East Dividend Fund issues and redeems shares on a cash basis only. Investors
purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset
transfer and other transaction costs associated with the issuance and redemption of creation units.
WisdomTree International Dividend and Sector Funds 195
Notes to Financial Statements (continued)
5. INVESTMENT PORTFOLIO TRANSACTIONS
Purchases and sales of investments (excluding in-kind capital share transactions and short term investments) for the fiscal year or
period ended March 31, 2014 were as follows:
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund1
Japan Hedged SmallCap Equity Fund1
Emerging Markets Dividend Growth Fund2
Emerging Markets Consumer Growth Fund3
Germany Hedged Equity Fund4
Korea Hedged Equity Fund5
1
2
3
4
5
Purchases
Sales
$ 104,975,288
66,964,116
28,367,846
102,477,357
3,159,089,237
63,621,419
56,467,132
15,705,478
16,756,571
37,540,101
124,830,144
28,602,437
295,977,160
1,949,820,536
804,641,763
37,904,140
143,603,930
5,045,712
7,001,658
12,389,036
21,961,156
5,290,340
2,881,208
7,539,230
5,449,689
6,181,222
316,214
10,164,994
$ 105,806,235
67,466,572
27,936,868
110,328,803
2,536,738,381
65,936,384
59,434,318
24,983,869
16,780,001
37,780,403
124,987,023
28,253,468
305,431,638
1,876,671,640
429,542,970
6,685,435
175,900,332
5,349,078
7,033,570
14,402,375
23,396,945
5,364,601
6,058,274
6,616,857
424,078
837,881
436,236
1,968,537
For the period June 28, 2013 through March 31, 2014.
For the period August 1, 2013 through March 31, 2014.
For the period September 27, 2013 through March 31, 2014.
For the period October 17, 2013 through March 31, 2014.
For the period November 7, 2013 through March 31, 2014.
For the fiscal year or period ended March 31, 2014, the cost of purchases and the proceeds of sales resulting from in-kind capital
share transactions were as follows:
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
196 WisdomTree International Dividend and Sector Funds
Purchases
$
56,477,557
60,609,143
10,631,986
1,235,573,377
8,580,498,316
4,358,520
152,611,792
—
—
73,731,438
—
Sales
$
12,146,130
—
—
4,150,963
3,351,350,841
26,508,516
63,957,145
28,724,064
17,634,459
—
53,408,310
Notes to Financial Statements (continued)
Fund
Purchases
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund1
Japan Hedged SmallCap Equity Fund1
Emerging Markets Dividend Growth Fund2
Emerging Markets Consumer Growth Fund3
Germany Hedged Equity Fund4
Korea Hedged Equity Fund5
1
2
3
4
5
$
2,805,223
248,322,505
159,317,865
213,922,839
—
941,659,790
—
—
726,225
27,690,612
—
43,901,048
80,269,520
14,711,502
14,048,822
8,931,250
—
Sales
$
—
—
1,219,861,591
93,509,609
—
102,885,573
1,175,207
977,494
8,270,966
4,162,839
16,959,742
26,269,461
6,111,122
—
—
—
—
For the period June 28, 2013 through March 31, 2014.
For the period August 1, 2013 through March 31, 2014.
For the period September 27, 2013 through March 31, 2014.
For the period October 17, 2013 through March 31, 2014.
For the period November 7, 2013 through March 31, 2014.
Gains and losses on in-kind redemptions are not recognized by the Funds for tax purposes.
6. FEDERAL INCOME TAXES
At March 31, 2014, the cost of investments (including securities on loan) for Federal income tax purposes was as follows:
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
$
Tax Cost
Gross Unrealized
Appreciation
Gross Unrealized
Depreciation
Net Unrealized
Appreciation
(Depreciation)
463,148,920
255,241,362
100,330,082
1,292,074,499
11,541,806,415
55,806,635
265,398,770
49,087,392
47,845,083
261,549,071
283,525,341
108,000,110
730,289,741
3,982,601,399
1,690,446,237
45,052,570
974,832,293
20,931,496
24,999,101
28,969,622
128,193,143
18,585,292
$117,701,853
55,764,474
25,006,993
156,105,840
490,313,044
7,763,969
31,350,985
6,601,637
10,554,162
57,961,002
71,585,090
36,498,888
205,543,994
276,284,419
234,959,735
9,105,650
87,154,639
2,710,155
1,089,995
4,118,771
7,012,795
1,784,494
$ (14,855,670)
(7,857,554)
(2,439,489)
(13,259,652)
(733,605,762)
(1,854,430)
(15,407,306)
(3,349,045)
(3,821,035)
(5,820,385)
(7,007,260)
(4,154,782)
(21,392,379)
(385,927,551)
(118,680,707)
(1,156,664)
(4,151,339)
(2,258,517)
(3,764,237)
(2,934,308)
(7,923,762)
(2,975,483)
$ 102,846,183
47,906,920
22,567,504
142,846,188
(243,292,718)
5,909,539
15,943,679
3,252,592
6,733,127
52,140,617
64,577,830
32,344,106
184,151,615
(109,643,132)
116,279,028
7,948,986
83,003,300
451,638
(2,674,242)
1,184,463
(910,967)
(1,190,989)
WisdomTree International Dividend and Sector Funds 197
Notes to Financial Statements (continued)
Fund
Tax Cost
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
Emerging Markets Consumer Growth Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
$
15,801,306
75,812,057
19,663,245
19,373,715
8,824,775
8,162,649
Gross Unrealized
Appreciation
Gross Unrealized
Depreciation
$
$
1,358,636
2,456,271
1,176,074
895,520
648,685
242,893
(668,009)
(3,686,813)
(978,191)
(706,787)
(49,476)
(257,425)
Net Unrealized
Appreciation
(Depreciation)
$
690,627
(1,230,542)
197,883
188,733
599,209
(14,532)
At March 31, 2014, the components of accumulated earnings/(loss) on a tax basis were as follows:
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
Emerging Markets Consumer Growth Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
Undistributed
Ordinary Income
$
1,499,308
646,175
256,630
4,077,300
283,236,346
166,028
2,461,135
23,148
29,189
696,213
754,395
433,659
5,317,071
7,748,713
3,061,381
501,227
2,821,126
84,246
50,346
31,800
—
—
35,758
790,277
64,853
55,038
—
20,489
Undistributed
Capital and Other
Losses
Net Unrealized
Appreciation/
(Depreciation)
Currency and
Other Unrealized
Appreciation/
(Depreciation)
Total Accumulated
Earnings/(Losses)
$(243,966,616)
(91,316,660)
(28,542,994)
(18,084,501)
305,150,137
(25,488,520)
(31,613,984)
(23,254,938)
(21,616,495)
(62,381,797)
(167,696,686)
(86,971,392)
(205,022,181)
(681,482,392)
(238,194,925)
(7,796,581)
(34,323,366)
(16,911,653)
(17,535,011)
(26,829,019)
(55,443,879)
(1,002,045)
(2,402,470)
401,778
(73,867)
(30,083)
(146,249)
(134,086)
$ 102,846,183
47,906,920
22,567,504
142,846,188
(243,292,718)
5,909,539
15,943,679
3,252,592
6,733,127
52,140,617
64,577,830
32,344,106
184,151,615
(109,643,132)
116,279,028
7,948,986
83,003,300
451,638
(2,674,242)
1,184,463
(910,967)
(1,190,989)
690,627
(1,230,542)
197,883
188,733
599,209
(14,532)
$ 64,614
28,032
7,760
4,805
(897,221)
2,772
(24,217)
3,243
14,974
32,667
23,438
8,279
40,658
41,513
47,184
(108)
10,039
2,850
846
403
2,414
—
150
(5,383)
374
(9,891)
1
199
$(139,556,511)
(42,735,533)
(5,711,100)
128,843,792
344,196,544
(19,410,181)
(13,233,387)
(19,975,955)
(14,839,205)
(9,512,300)
(102,341,023)
(54,185,348)
(15,512,837)
(783,335,298)
(118,807,332)
653,524
51,511,099
(16,372,919)
(20,158,061)
(25,612,353)
(56,352,432)
(2,193,034)
(1,675,935)
(43,870)
189,243
203,797
452,961
(127,930)
The tax character of distributions paid during the fiscal years or periods ended March 31, 2014 and March 28, 2013, was as follows:
Year Ended
March 31, 2014
Fund
Distributions Paid
from Ordinary
Income*
Distributions Paid
from Long-Term
Gains
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
$ 22,732,659
14,535,126
5,168,178
3,161,594
188,544,430
$
198 WisdomTree International Dividend and Sector Funds
—
—
—
—
108,107,302
Year Ended
March 28, 2013
Distributions Paid
from Return of
Capital
$
—
—
—
—
—
Distributions Paid
from Ordinary
Income*
$ 15,025,057
7,776,245
3,714,651
1,076,479
13,375,411
Notes to Financial Statements (continued)
Year Ended
March 31, 2014
Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund1
Japan Hedged SmallCap Equity Fund1
Emerging Markets Dividend Growth Fund2
Emerging Markets Consumer Growth Fund3
Germany Hedged Equity Fund4
Korea Hedged Equity Fund5
Distributions Paid
from Ordinary
Income*
Distributions Paid
from Long-Term
Gains
$
$
1,834,214
5,814,634
2,489,523
2,462,154
12,150,590
15,909,125
4,342,219
27,535,002
205,548,331
54,318,601
1,267,094
9,199,353
815,003
785,058
1,422,728
4,770,599
717,428
1,253,723
102,144
158,839
42,861
—
23,127
Year Ended
March 28, 2013
Distributions Paid
from Return of
Capital
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
401,422
—
—
—
—
—
—
—
Distributions Paid
from Ordinary
Income*
Distributions Paid
from Return of
Capital
$
$
1,788,342
4,026,669
3,102,604
3,153,173
6,637,277
15,069,853
3,330,617
16,696,307
143,743,128
32,701,228
643,257
518,343
1,000,096
956,648
1,355,041
8,639,126
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
3,704
—
—
—
—
—
—
—
—
—
* Includes short-term capital gains.
1
For the period June 28, 2013 through March 31, 2014.
2
For the period August 1, 2013 through March 31, 2014.
3
For the period September 27, 2013 through March 31, 2014.
4
For the period October 17, 2013 through March 31, 2014.
5
For the period November 7, 2013 through March 31, 2014.
At March 31, 2014, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains through the
years indicated. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials
Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Capital Loss Capital Loss
Capital Loss
Available
Available
Available
Through 2015 Through 2016 Through 2017
$
—
—
—
—
—
—
6,631
2,486
—
12,856
—
—
—
—
$
Capital Loss
Available
Through 2018
Capital Loss
Available
Through 2019
Short-Term
Post-Effective*
No Expiration
— $24,645,745 $187,173,747 $ 8,855,174 $
972,353 24,469,991
41,582,445
7,637,372
—
5,329,783
15,414,669
807,956
—
—
15,981,777
2,102,724
—
—
—
—
638,234
3,657,374
8,823,117
—
450,744
2,793,131
13,069,045
3,661,232
434,717
1,942,155
11,545,171
2,148,087
23,230
2,237,436
10,402,798
2,670,223
911,666 10,714,056
21,950,675
8,092,071
—
2,200,353
—
166,963
38,137,926
10,045,031
21,554,037
3,240,763
106,422,557
49,400,362
176,126,796
32,150,807
—
11,183,904
6,365,431
561,494
Long-Term
Post-Effective*
No Expiration
Capital Loss
Available Total
3,892,949 $ 18,929,623 $243,497,238
3,836,666
12,679,380
91,178,207
1,230,988
5,759,598
28,542,994
—
—
18,084,501
—
—
—
9,569,437
2,751,433
25,439,595
4,386,398
6,814,359
31,181,540
2,046,683
5,135,639
23,254,938
4,057,626
2,169,302
21,560,615
2,583,831
18,116,642
62,381,797
16,627,276
4,043,897
—
391,010,797
6,508,927
9,843,719
—
188,834,726
167,696,686
86,717,266
204,046,264
615,965,550
WisdomTree International Dividend and Sector Funds 199
Notes to Financial Statements (continued)
Fund
Capital Loss Capital Loss
Capital Loss
Available
Available
Available
Through 2015 Through 2016 Through 2017
Emerging Markets SmallCap Dividend
Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
Emerging Markets Consumer Growth
Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
$—
—
—
—
—
—
—
—
—
—
—
$
—
—
—
—
45,822
13,301
261,244
—
—
—
—
—
—
—
—
—
—
Capital Loss
Available
Through 2018
Capital Loss
Available
Through 2019
Short-Term
Post-Effective*
No Expiration
Long-Term
Post-Effective*
No Expiration
Capital Loss
Available Total
$ 4,224,150 $ 9,367,814 $ 4,882,951 $131,446,902 $80,252,367 $230,174,184
41,648
6,522,827
763,315
—
468,781
7,796,571
—
108,824
1,617,839
9,314,532 11,729,073
22,770,268
— 11,126,004
3,769,123
695,605
1,137,792
16,728,524
1,245,793
4,858,681
6,793,018
1,527,150
2,886,939
17,357,403
1,722,994
5,793,876
1,986,702
802,410 16,367,106
26,686,389
12,351,482 23,011,711 10,538,886
791,057
8,304,424
55,258,804
—
—
—
976,316
—
976,316
—
—
—
641,390
1,012,195
1,653,585
—
—
—
—
—
—
—
—
—
6,454
—
6,454
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
* Under the recently enacted Regulated Investment Company Modernization Act of 2010, a Fund is permitted to carry forward any new capital losses for an unlimited period.
Additionally, such capital losses that are carried forward will retain their character as either short-term or long-term capital losses rather than being considered all short-term as
under previous law. The character of theses losses is noted above.
Capital losses incurred after October 31 (“post-October capital losses”) and with the taxable year are deemed to arise on the first
business day of each Fund’s next taxable year.
During the fiscal year or period ended March 31, 2014, the following Funds incurred and will elect to defer post-October capital
losses and late year ordinary losses as follows:
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund1
Japan Hedged SmallCap Equity Fund1
Emerging Markets Dividend Growth Fund2
Emerging Markets Consumer Growth Fund3
200 WisdomTree International Dividend and Sector Funds
Late Year
Ordinary Loss
$
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
185,075
25,729
—
—
—
—
Short-Term
Post-October
Capital Losses
Long-Term
Post-October
Capital Losses
$
$
—
—
—
—
—
46,514
378,851
—
—
—
—
—
975,917
12,935,116
4,014,133
—
4,474,813
62,679
—
16,337
—
—
309,823
—
67,413
30,083
469,378
138,453
—
—
—
2,411
53,593
—
55,880
—
—
254,126
—
52,581,726
4,006,608
10
7,078,285
120,450
177,608
126,293
—
—
439,062
—
—
—
Notes to Financial Statements (continued)
Late Year
Ordinary Loss
Fund
Germany Hedged Equity Fund4
Korea Hedged Equity Fund5
1
2
3
4
5
$
—
—
Short-Term
Post-October
Capital Losses
Long-Term
Post-October
Capital Losses
$
$
50,554
94,597
95,695
39,489
For the period June 28, 2013 through March 31, 2014.
For the period August 1, 2013 through March 31, 2014.
For the period September 27, 2013 through March 31, 2014.
For the period October 17, 2013 through March 31, 2014.
For the period November 7, 2013 through March 31, 2014.
During the fiscal year or period ended March 31, 2014, the following Funds utilized capital loss carryforwards of the noted amounts
to offset realized gains.
Utilized
Capital Loss
Carryforwards
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
Emerging Markets Consumer Growth Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
$
—
—
—
8,917,292
—
—
—
—
—
—
4,268,794
1,977,983
23,399,406
—
—
397,953
—
—
—
—
—
—
—
—
—
—
—
—
At March 31, 2014, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net
assets as follows:
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Undistributed Net
Investment Income/(Loss)
$
182,957
36,622
4,421
602,984
11,472,641
40,430
1,151,547
Accumulated Net
Realized Gain/(Loss)
$
(3,106,962)
(36,622)
(4,421)
(1,807,077)
(509,307,923)
(2,762,052)
(11,402,253)
Paid-in Capital
$
2,924,005
—
—
1,204,093
497,835,282
2,721,622
10,250,706
WisdomTree International Dividend and Sector Funds 201
Notes to Financial Statements (continued)
Undistributed Net
Investment Income/(Loss)
Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
Emerging Markets Consumer Growth Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
$
(35,155)
12,179
(14,441)
75,710
35,302
3,144,223
(537,469)
1,661,946
50,829
77,596
(5,481)
26,139
(4,888)
999,920
45,626
17,527
53,101
7,630
11,036
18
27,447
Accumulated Net
Realized Gain/(Loss)
$
Paid-in Capital
(2,541,820)
(2,963,237)
14,441
(10,828,247)
(35,302)
(3,144,223)
(91,034,058)
(29,287,656)
(50,829)
(7,948,656)
(125,257)
(68,917)
(956,789)
(1,061,323)
109,682
(1,348,080)
(958,651)
(6,452)
(11,036)
41
(27,447)
$
2,576,975
2,951,058
—
10,752,537
—
—
91,571,527
27,625,710
—
7,871,060
130,738
42,778
961,677
61,403
(155,308)
1,330,553
905,550
(1,178)
—
(59)
—
The differences are primarily due to redemptions-in-kind, currency gain/loss, Passive Foreign Investment Companies (“PFICs”), the
tax treatment of income earned from investments in partnerships, non-deductible expenses, taxable overdistributions, the tax
treatment of net operating losses, and the utilization of earnings and profits distributed to shareholders on redemption of shares.
GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of
a tax position taken or expected to be taken in a tax return. Foreign taxes are provided for based on each Fund’s understanding of
the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued and applied to net investment income,
net realized capital gains and net unrealized appreciation, as applicable, as the income is earned or capital gains are recorded. As of
and during the fiscal year or period ended March 31, 2014, the Funds did not have any liabilities for unrecognized tax benefits
relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize
interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of
Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Generally,
each of the tax years in the four-year period ended March 31, 2014, remains subject to examination by taxing authorities.
7. OTHER AFFILIATED PARTIES AND TRANSACTIONS
Affiliated holdings are Funds which are managed by the Trust or an affiliate of the Trust. Transactions with affiliated companies
during the fiscal year or period ended March 31, 2014 are as follows:
Fund
Value at
3/28/2013
Purchases/
Additions
Sales/
Reductions
Value at
3/31/2014
Dividend
Income
—
$16,072,342
$15,494,031
$ 545,678
$104,127
$465,814
$ 8,211,051
$ 8,628,879
$
89,234
$ 40,986
$126,313
$ 2,753,785
$ 2,922,035
$
—
$ 19,058
42,590
$168,903
922,384
$ 3,676,169
973,047
$ 3,895,082
$
—
—
2,542
$ 21,600
$
$ 4,320,402
$
$3,386,251
DEFA Fund
WisdomTree International Dividend ex-Financials Fund
$
DEFA Equity Income Fund
WisdomTree International LargeCap Dividend Fund
Global Equity Income Fund
WisdomTree DEFA Equity Income Fund
WisdomTree Equity Income Fund
Total
Europe SmallCap Dividend Fund
WisdomTree International MidCap Dividend Fund
202 WisdomTree International Dividend and Sector Funds
—
931,425
$
9,245
Notes to Financial Statements (concluded)
Fund
Value at
3/28/2013
Purchases/
Additions
Sales/
Reductions
Value at
3/31/2014
Dividend
Income
Global ex-U.S. Dividend Growth Fund
WisdomTree DEFA Fund
$
4,038
$ 1,078,003
$ 1,023,298
$
42,807
$
$
2,588
6,626
721,159
$ 1,799,162
658,832
$ 1,682,130
$
28,804
71,611
5,387
$ 13,560
$
—
$ 3,503,808
$ 2,084,270
$1,469,670
$
1,357
$
—
$ 1,235,904
$ 1,245,518
$
$
6,971
$
675
$ 7,350,393
$ 7,008,211
$ 243,088
$ 44,792
$ 27,106
$ 8,116,801
$ 7,372,889
$ 668,163
$ 49,417
WisdomTree Australia Dividend Fund
$187,198
$ 1,940,060
$ 1,491,357
$ 611,578
$ 15,615
WisdomTree Japan Hedged Equity Fund
Total
193,619
$380,817
1,924,628
$ 3,864,688
1,508,239
$ 2,999,596
627,160
$1,238,738
2,565
$ 18,180
$400,395
$ 9,227,982
$ 6,452,254
$3,378,621
$
5,966
327,930
$728,325
7,678,686
$16,906,668
5,188,448
$11,640,702
2,819,491
$6,198,112
$
3,477
9,443
$ 15,582
$29,159,754
$24,760,650
$4,186,652
$ 68,575
$
3,702
$
465,445
$
463,877
$
11,058
$
2,312
$ 26,991
$
430,227
$
402,470
$
56,133
$
1,972
$
1,383
$
712,198
$
698,051
$
—
$
6,070
$
—
$ 312,524
$
7,527
WisdomTree Emerging Markets Equity Income Fund
Total
8,173
Japan SmallCap Dividend Fund
WisdomTree Japan Hedged Equity Fund
Asia Pacific ex-Japan Fund
WisdomTree Global ex-U.S. Real Estate Fund
—
International LargeCap Dividend Fund
WisdomTree International MidCap Dividend Fund
International Dividend ex-Financials Fund
WisdomTree International LargeCap Dividend Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
WisdomTree Europe SmallCap Dividend Fund
WisdomTree Japan SmallCap Dividend Fund
Total
Emerging Markets SmallCap Dividend Fund
WisdomTree Emerging Markets Equity Income Fund
Commodity Country Equity Fund
WisdomTree Global Natural Resources Fund
Global Natural Resources Fund
WisdomTree Global Equity Income Fund
Global ex-U.S. Utilities Fund
WisdomTree Global ex-U.S. Real Estate Fund
Global ex-U.S. Real Estate Fund
WisdomTree Global Natural Resources Fund
$ 2,806,289
$ 2,459,570
8. RECENT ACCOUNTING PRONOUNCEMENT
In June 2013, the FASB issued Accounting Standards Update 2013-08 “Financial Services-Investment Companies” (“ASU 2013-08”).
ASU 2013-08 provides clarifying guidance to determine if an entity qualifies as an investment company. ASU 2013-08 also requires an
investment company to measure non-controlling interests in other investment companies at fair value. The following disclosures will
also be required upon adoption of ASU 2013-08: (i) whether an entity is an investment company and is applying the accounting and
reporting guidance for investment companies; (ii) information about changes, if any, in an entity’s status as an investment company;
and (iii) information about financial support provided or contractually required to be provided by an investment company to any of
its investees. The requirements of ASU 2013-08 are effective for fiscal years that begin after December 15, 2013.
At this time, management is evaluating the implications of ASU 2013-08 and its impact on the Trust’s financial statements.
9. ADDITIONAL INFORMATION
In September 2013, the Funds entered into agreements to change transfer agency, custody, fund accounting, fund administration
and securities lending services from Bank of New York Mellon to State Street Bank and Trust Company, effective April 1, 2014.
WisdomTree International Dividend and Sector Funds 203
Report of Independent Registered Public Accounting Firm
The Board of Trustees and Shareholders of WisdomTree Trust:
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of WisdomTree DEFA
Fund, WisdomTree DEFA Equity Income Fund, WisdomTree Global Equity Income Fund, WisdomTree Europe SmallCap Dividend
Fund, WisdomTree Japan Hedged Equity Fund, WisdomTree Global ex-U.S. Dividend Growth Fund (formerly, WisdomTree Global
ex-U.S. Growth Fund), WisdomTree Japan SmallCap Dividend Fund, WisdomTree Asia Pacific ex-Japan Fund, WisdomTree Australia
Dividend Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International Dividend ex-Financials Fund,
WisdomTree International MidCap Dividend Fund, WisdomTree International SmallCap Dividend Fund, WisdomTree Emerging
Markets Equity Income Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, WisdomTree Middle East Dividend Fund,
WisdomTree Europe Hedged Equity Fund, WisdomTree Commodity Country Equity Fund, WisdomTree Global Natural Resources
Fund, WisdomTree Global ex-U.S. Utilities Fund, WisdomTree Global ex-U.S. Real Estate Fund, WisdomTree China Dividend exFinancials Fund, WisdomTree United Kingdom Hedged Equity Fund, WisdomTree Japan Hedged SmallCap Equity Fund,
WisdomTree Emerging Markets Dividend Growth Fund, WisdomTree Emerging Markets Consumer Growth Fund, WisdomTree
Germany Hedged Equity Fund and WisdomTree Korea Hedged Equity Fund (twenty-eight of the investment funds constituting
WisdomTree Trust (the “Trust”)) as of March 31, 2014, and the related statements of operations, the statements of changes in net
assets and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are
the responsibility of the Trust’s management. Our responsibility is to express an opinion on these financial statements and financial
highlights based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Trust’s internal control
over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Trust’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the
accounting principles used and significant estimates made by management, and evaluating the overall financial statement
presentation. Our procedures included confirmation of securities owned as of March 31, 2014, by correspondence with the custodian
and brokers or by other appropriate auditing procedures where replies from brokers were not received. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial
position of WisdomTree DEFA Fund, WisdomTree DEFA Equity Income Fund, WisdomTree Global Equity Income Fund,
WisdomTree Europe SmallCap Dividend Fund, WisdomTree Japan Hedged Equity Fund, WisdomTree Global ex-U.S. Dividend
Growth Fund, WisdomTree Japan SmallCap Dividend Fund, WisdomTree Asia Pacific ex-Japan Fund, WisdomTree Australia
Dividend Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International Dividend ex-Financials Fund,
WisdomTree International MidCap Dividend Fund, WisdomTree International SmallCap Dividend Fund, WisdomTree Emerging
Markets Equity Income Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, WisdomTree Middle East Dividend Fund,
WisdomTree Europe Hedged Equity Fund, WisdomTree Commodity Country Equity Fund, WisdomTree Global Natural Resources
Fund, WisdomTree Global ex-U.S. Utilities Fund, WisdomTree Global ex-U.S. Real Estate Fund, WisdomTree China Dividend exFinancials Fund, WisdomTree United Kingdom Hedged Equity Fund, WisdomTree Japan Hedged SmallCap Equity Fund,
WisdomTree Emerging Markets Dividend Growth Fund, WisdomTree Emerging Markets Consumer Growth Fund, WisdomTree
Germany Hedged Equity Fund and WisdomTree Korea Hedged Equity Fund of WisdomTree Trust at March 31, 2014, the results of
their operations, the changes in their net assets and the financial highlights for each of the periods indicated therein, in conformity
with U.S. generally accepted accounting principles.
New York, New York
May 30, 2014
204 WisdomTree International Dividend and Sector Funds
Approval of Investment Advisory and Sub-Advisory Agreements (unaudited)
Approval of Investment Advisory and Sub-Investment Advisory Agreements with respect to WisdomTree Germany Hedged Equity Fund and
WisdomTree Korea Hedged Equity Fund
At a meeting held on June 12, 2013, the Board of Trustees (the “Board”) of the WisdomTree Trust (the “Trust”), including those
trustees who are not “interested persons” (as defined in the Investment Company Act of 1940, as amended) of the Trust (the
“Independent Trustees”), considered the approval of the Investment Advisory Agreement (the “Agreement”) between the Trust and
WisdomTree Asset Management, Inc. (“WTAM”) with respect to WisdomTree Germany Hedged Equity Fund and WisdomTree
Korea Hedged Equity Fund (each, a “Fund” and collectively, the “Funds”) pursuant to which WTAM will provide the Funds with
investment advisory services, and the Sub-Investment Advisory Agreement (together with the Agreement, the “Agreements”)
pursuant to which Mellon Capital Management Corporation (“MCM”) will coordinate the investment and reinvestment of the assets
of the Funds.
In considering whether to approve the Agreements, the Board considered and discussed information and analysis provided by
WTAM. The Board was assisted in its review by independent legal counsel. In considering the approval of the Agreements, the Board
considered all factors that it deemed to be relevant, including those discussed below. The Board did not identify any particular factor
as controlling, and each Trustee may have attributed different weights to the various factors.
Nature, Extent and Quality of Services to be Provided
The Board considered the nature, extent and quality of the services to be provided by WTAM and MCM, recognizing WTAM’s and
MCM’s operational capabilities and resources. The Board noted the extensive responsibilities that WTAM has as investment adviser
to the Funds, including the selection of MCM, oversight of MCM’s compliance with Fund policies and objectives, oversight of general
Fund compliance with federal and state laws, and the implementation of Board directives as they relate to the Funds.
Comparative Analysis of the Funds’ Performance, Advisory Fees and Fund Expenses
As the Funds had not yet commenced operations, the Board was not able to review the Funds’ performance. The Board discussed
with WTAM representatives the portfolio management personnel and the investment strategies to be employed in management of
the Funds’ assets. The Board considered the fee to be paid to WTAM by the Funds. The Board examined the fee to be paid by each
Fund in light of fees paid to other investment advisers by comparable funds and the method of computing each Fund’s fee. The
Board also considered the fees to be paid to MCM in relation to the fees paid to WTAM by the Funds and the respective services to
be provided. The Board noted that MCM’s fees will be paid by WTAM (out of its fees paid by the Funds) and not the Funds. After
comparing the Funds’ fees with those of comparable funds, the Board concluded that the proposed level of fees for each Fund is
reasonable and appropriate.
Costs of Services to be Provided, Profitability and Economies of Scale
As the Funds had not yet commenced operations, WTAM representatives were not able to review with the Board the dollar amount of
expenses allocated and profit received by WTAM, or any economies of scale. The Board considered potential benefits to WTAM and
MCM from acting as investment adviser and sub-investment adviser, respectively, to the Funds, including the potential “fall-out”
benefits to MCM and its affiliates (i.e., ancillary benefits that may be realized by MCM and its affiliates from MCM’s relations with the
Funds, such as other service contracts). The Trustees also considered the uncertainty of the estimated asset levels and the renewal
requirements for advisory agreements, as well as their ability to review the advisory fees annually after the initial term of the
Agreements.
Conclusion
After consideration of the factors discussed above, the Board, including a majority of the Independent Trustees, determined that the
approval of the Agreements was in the best interests of each Fund and approved the Agreements for the Funds.
Approval of Sub-Investment Advisory Agreement with respect to WisdomTree China Dividend Ex-Financials Fund
At a meeting held on December 11, 2013 (the “Meeting”), the Board, including the Independent Trustees, unanimously approved
the appointment of MCM to serve as sub-adviser to the WisdomTree China Dividend ex-Financials Fund (the “China Fund”). MCM
replaced Old Mutual Global Index Trackers (Proprietary) Limited (“Old Mutual”) as the sub-adviser to the China Fund.
At the Meeting, the Board, including the Independent Trustees, considered the approval of the investment sub-advisory agreement
(the “China MCM Agreement”) between WTAM and MCM pursuant to which MCM will coordinate the investment and reinvestment
of the China Fund’s assets. The China MCM Agreement replaced the investment sub-advisory agreement between WTAM and Old
Mutual, dated November 20, 2012, with respect to the China Fund (the “Old Mutual Agreement”), which was terminated as of the
close of business on January 31, 2014. The Board determined that the change in sub-adviser was in the best interests of Fund
shareholders due to, among other matters, the factors set forth below.
WisdomTree International Dividend and Sector Funds 205
Approval of Investment Advisory and Sub-Advisory Agreements (unaudited) (concluded)
In considering whether to approve the China MCM Agreement, the Board considered and discussed information and analysis
provided by WTAM. The Board was assisted in its review by independent legal counsel. In considering the approval of the China
MCM Agreement, the Board considered all factors that it deemed to be relevant, including those discussed below. The Board did not
identify any particular factor as controlling, and each Trustee may have attributed different weights to the various factors.
Nature, Extent and Quality of Services to be Provided
The Board considered the nature, extent and quality of the services to be provided by MCM, recognizing MCM’s operational
capabilities and resources. Representatives of WTAM noted that MCM currently acts as sub-adviser for the WisdomTree suite of
equity strategies with the exception of the China Fund, which has used Old Mutual for sub-advisory services since its inception in
September 2012. The Board discussed the reasoning for the switch from Old Mutual to MCM with representatives of WTAM, noting
MCM’s expertise in the emerging markets space and the potential operational risks of an additional sub-adviser in light of the
planned service provider conversion from Bank of New York Mellon to State Street Bank and Trust Company. Additionally, the
Board noted that the China Fund invests in Hong Kong domiciled securities, which are also held in the existing WisdomTree
strategies sub-advised by MCM.
Comparative Analysis of the China Fund’s Performance, Advisory Fees and Fund Expenses
The Adviser noted that while Old Mutual’s sub-advisory mandate has been satisfactory, MCM has proven itself to be an effective subadviser, particularly in the emerging markets equity space, currently operating six of the emerging markets equity strategies in the
WisdomTree suite. The Board also noted WTAM’s statement that it did not intend to retain Old Mutual as a sub-adviser for future
funds. The Board discussed with WTAM’s representatives the MCM portfolio management personnel that would be responsible for
managing the China Fund’s assets. The Board noted that because of the current asset level of the funds sub-advised by MCM, the fee
rate to be paid to MCM will be lower than the fee paid to Old Mutual. The Board noted that MCM’s fees will be paid by WTAM (out
of its fees paid by the China Fund) and not the China Fund. The Board also considered the fee to be paid to MCM in relation to the
fees paid to WTAM by the China Fund and the respective services to be provided. The Board was satisfied that the retention of MCM
as sub-adviser for the China Fund was proposed for reasons consistent with the best interest of the China Fund and its shareholders.
Costs of Services to be Provided, Profitability and Economies of Scale
The Board considered potential benefits to MCM from acting as sub-investment adviser to the China Fund, including the potential
“fall-out” benefits to MCM and its affiliates (i.e., ancillary benefits that may be realized by MCM and its affiliates from its role with the
China Fund, such as other service contracts).
Conclusion
After consideration of the factors discussed above, the Board, including a majority of the Independent Trustees, determined that the
approval of the China MCM Agreement was in the best interest of the China Fund and approved the China MCM Agreement for the
China Fund.
206 WisdomTree International Dividend and Sector Funds
Trustees and Officers Information (unaudited)
The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of
the duties performed by WTAM and other service providers. The Board of Trustees elects the officers of the Trust who are
responsible for administering the Trust’s day-to-day operations. Each Trustee serves until his or her successor is duly elected or
appointed and qualified.
The address of each Trustee and Officer is c/o WisdomTree Asset Management, Inc., 245 Park Avenue, 35th Floor, New York,
NY 10167.
Independent Trustees
Name
and Year of Birth
of Trustee/Officer
Position(s) Held
with the Trust,
Term of Office
and Length of
Time Served
Principal Occupation(s)
During the Past 5 Years
Number of Portfolios
in Fund Complex
Overseen by
Trustee/Officer+
Other
Directorships
Held by Trustee
During Past 5 Years
David G. Chrencik*
(1948)
Trustee,
Chief Financial Officer of GeoGreen
2014 – present BioFuels, Inc. (biodiesel fuel
producer) since 2010; Chief
Financial Officer of Sarus Indochina
Select LP Hedge Fund since 2012;
Audit Partner at
PricewaterhouseCoopers LLP
(public accounting firm) from 1972
to 2009 (includes positions prior to
becoming Audit Partner and
predecessor firms).
62
Trustee,
Vericimetry
Funds
Joel Goldberg**
(1945)
Trustee,
Attorney, Of Counsel/Partner at
2012 – present Stroock & Stroock & Lavan LLP,
2010 to present; Attorney, Partner at
Willkie Farr & Gallagher LLP, 2006
to 2010.
62
None
Melinda A. Raso Kirstein
(1955)
Trustee,
Retired, Merrill Lynch Investment
2014 – present Management, Vice President; Senior
Portfolio Manager, Fixed Income
Management; Director, Tax Exempt
Fund Management.
62
Associate
Alumnae of
Douglass College,
Member of
Investment
Committee
Toni Massaro***
(1955)
Trustee,
Dean Emerita at the University of
2006 – present Arizona James E. Rogers College of
Law (“Rogers College of Law”) since
2009 (distinguished Emerita in July
2009); Dean at the Rogers College
of Law from 1999 to 2009; Regents’
Professor at the Rogers College of
Law since 1990.
62
None
Victor Ugolyn
(1947)
Trustee,
2006 – present;
Chairman of
the Board of
Trustees,
2006 – present
62
Member of the
Board of
Governors of
Naismith
Memorial
Basketball Hall of
Fame
Private Investor, 2005 to present;
President and Chief Executive
Officer of William D. Witter, Inc.
from 2005 to 2006; Consultant to
AXA Enterprise in 2004; Chairman,
President and Chief Executive
Officer of Enterprise Capital
Management (subsidiary of The
MONY Group, Inc.) and Enterprise
Group of Funds, Chairman of
MONY Securities Corporation, and
Chairman of the Fund Board of
Enterprise Group of Funds from
1991 to 2004.
+ As of March 31, 2014
* Chair of the Audit Committee.
** Chair of the Contracts Review Committee.
*** Chair of the Governance and Nominating Committee.
WisdomTree International Dividend and Sector Funds 207
Trustees and Officers Information (unaudited) (concluded)
Interested Trustee and Officers
Name
and Year of Birth
of Trustee/Officer
Position(s) Held
with the Trust,
Term of Office
and Length of
Time Served
Principal Occupation(s)
During the Past 5 Years
Number of Portfolios
in Fund Complex
Overseen by
Trustee/Officer+
Other
Directorships
Held by Trustee
During Past 5 Years
Jonathan Steinberg****
(1964)
Trustee,
2005 – present
President,
2005 – present
President, WisdomTree Trust since
2005; President, WisdomTree
Investments, Inc. and WisdomTree
Asset Management, Inc.; Chief
Executive Officer WisdomTree
Investments, Inc. and WisdomTree
Asset Management, Inc.
62
Director,
WisdomTree
Investments, Inc.
and WisdomTree
Asset
Management,
Inc.
David Castano****
(1971)
Treasurer,
Director of Fund Accounting &
2013 – present Administration, WisdomTree Asset
Management, Inc., since 2011; Vice
President of Legg Mason & Co. and
served as Treasurer from 2010 to
2011 and Controller from 2006 to
2010 of certain mutual funds
associated with Legg Mason & Co.;
Assistant Treasurer of Lord Abbett
mutual funds from 2004 to 2006.
62
None
Ryan Louvar****
(1972)
Secretary and
Chief Legal
Officer,
2013 – present
62
None
Sarah English****
(1977)
Assistant
Investment Management Counsel,
Secretary,
WisdomTree Asset Management,
2013 – present Inc. since 2010 (includes prior
positions at WisdomTree Asset
Management, Inc.); Attorney,
NYFIX, Inc. from 2006 to 2009.
62
None
Terry Jane Feld****
(1960)
Chief
Compliance
Officer,
2012 – present
62
None
+
As of March 31, 2014
**** Elected by and serves at the pleasure of the Board.
208 WisdomTree International Dividend and Sector Funds
General Counsel, WisdomTree Asset
Management, Inc. since 2013; Vice
President and Senior Managing
Counsel, State Street, 2005 to 2013.
Chief Compliance Officer,
WisdomTree Asset Management,
Inc. since 2012; Senior Compliance
Officer, WisdomTree Asset
Management since 2011; Senior
Compliance Officer, TIAA-CREF,
2007 to 2010; Vice President/NASDSEC Compliance, Mutual of
America Life Insurance Co.,
2004 to 2007.
Supplemental Information (unaudited)
Federal Income Tax Information
The following Federal tax information related to the Funds fiscal year or period ended March 31, 2014 is provided for information
purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar
year will be reported to you on Form 1099-DIV in January 2015.
Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief
Reconciliation Act of 2003. Of the distributions paid during the fiscal year or period ended March 31, 2014, the following represents
the maximum amount of ordinary income distributions that may be considered qualified dividend income:
Fund
Qualified Dividend
Income
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
Emerging Markets Consumer Growth Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
$ 20,722,890
13,372,758
4,547,988
3,009,759
168,873,926
1,352,916
5,101,510
1,763,567
2,453,386
10,872,702
15,706,753
3,665,081
20,019,447
136,221,583
31,142,684
355,767
9,932,606
567,540
725,862
971,040
3,509,037
343,110
1,253,723
94,102
127,367
42,861
—
23,127
The fund intends to elect to pass through to shareholders the credit for taxes paid during the fiscal year or period ended March 31,
2014, to foreign countries. The gross foreign source income and foreign taxes paid are as follows:
Fund
DEFA Fund
DEFA Equity Income Fund
Global Equity Income Fund
Europe SmallCap Dividend Fund
Japan Hedged Equity Fund
Global ex-U.S. Dividend Growth Fund
Japan SmallCap Dividend Fund
Asia Pacific ex-Japan Fund
Australia Dividend Fund
International LargeCap Dividend Fund
Gross Foreign
Income
Foreign
Taxes Paid
$ 23,239,683
14,505,255
4,611,464
6,884,596
268,883,035
2,234,405
5,335,720
3,040,081
2,603,603
12,076,290
$ 1,163,841
555,108
261,153
679,883
23,414,436
224,961
473,896
203,441
25,483
439,875
WisdomTree International Dividend and Sector Funds 209
Supplemental Information (unaudited) (concluded)
Fund
International Dividend ex-Financials Fund
International MidCap Dividend Fund
International SmallCap Dividend Fund
Emerging Markets Equity Income Fund
Emerging Markets SmallCap Dividend Fund
Middle East Dividend Fund
Europe Hedged Equity Fund
Commodity Country Equity Fund
Global Natural Resources Fund
Global ex-U.S. Utilities Fund
Global ex-U.S. Real Estate Fund
China Dividend ex-Financials Fund
United Kingdom Hedged Equity Fund
Japan Hedged SmallCap Equity Fund
Emerging Markets Dividend Growth Fund
Emerging Markets Consumer Growth Fund
Germany Hedged Equity Fund
Korea Hedged Equity Fund
210 WisdomTree International Dividend and Sector Funds
Gross Foreign
Income
Foreign
Taxes Paid
$ 16,145,075
4,305,757
24,242,032
258,322,779
64,932,506
1,958,062
13,975,075
921,257
827,838
1,419,588
4,687,510
856,148
—
934,958
311,119
136,359
—
26,083
$ 1,191,746
318,374
1,706,679
30,859,214
8,724,020
71,232
1,354,801
107,791
83,421
158,678
311,250
69,457
—
88,980
32,113
14,305
—
4,308
General Information (unaudited)
Proxy Voting Policies, Procedures and Record
A complete copy of the Proxy Voting Policy may be obtained by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust,
c/o ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203.
The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent
12-month period ended June 30 and to file Form N-PX with the Securities and Exchange Commission (“SEC”) no later than
August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE
(9473) or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at
www.sec.gov.
Special Shareholder Meeting Results
A special meeting of shareholders of WisdomTree Trust (the “Trust”) was held on March 11, 2014 and the three Trustees identified
below were elected by the Trust’s shareholders. Election of Trustees was the only matter proposed for voting at the special meeting
and the following is a report of the votes cast:
Nominee*
David Chrencik
Joel Goldberg
Melinda Raso Kirstein
For
Withheld
564,021,648
564,748,510
563,676,336
4,593,018
3,866,156
4,938,330
* Joel Goldberg is an existing Trustee of the Trust who had not previously been elected by shareholders, while David Chrencik and Melinda Raso Kirstein are newly elected Trustees.
Shareholder Reports and Quarterly Portfolio Disclosure
The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on
Form N-Q. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the
Trust at 1-866-909-WISE (9473). You can also obtain copies of Form N-Q by (i) visiting the SEC’s Public Reference Room in
Washington, D.C. (information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330),
(ii) sending your request and a duplicating fee to the SEC’s Public Reference Room, Washington, DC 20549-0102 or (iii) sending
your request electronically to [email protected].
Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.
Each Fund’s Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is
available without charge upon request. Contact your financial representative for a free prospectus or SAI.
Frequency Distribution of Discounts & Premiums
Information about differences between the per share net asset value of each Fund and the market trading price of shares of each
Fund are available, without charge, at www.wisdomtree.com.
WisdomTree International Dividend and Sector Funds 211
The WisdomTree Family of Funds
The following is a list of WisdomTree Funds being offered, along with their respective ticker symbols, as of March 31, 2014:
WisdomTree Domestic Dividend Funds
WisdomTree Total Dividend Fund (DTD)
WisdomTree Equity Income Fund (DHS)
WisdomTree LargeCap Dividend Fund (DLN)
WisdomTree Dividend ex-Financials Fund (DTN)
WisdomTree MidCap Dividend Fund (DON)
WisdomTree SmallCap Dividend Fund (DES)
WisdomTree U.S. Dividend Growth Fund (DGRW)
WisdomTree U.S. SmallCap Dividend Growth Fund (DGRS)
WisdomTree International Dividend Funds
WisdomTree DEFA Fund (DWM)
WisdomTree DEFA Equity Income Fund (DTH)
WisdomTree Global Equity Income Fund (DEW)
WisdomTree Europe SmallCap Dividend Fund (DFE)
WisdomTree Japan Hedged Equity Fund (DXJ)
WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
WisdomTree Asia Pacific ex-Japan Fund (AXJL)
WisdomTree Australia Dividend Fund (AUSE)
WisdomTree International LargeCap Dividend Fund (DOL)
WisdomTree International Dividend ex-Financials Fund (DOO)
WisdomTree International MidCap Dividend Fund (DIM)
WisdomTree International SmallCap Dividend Fund (DLS)
WisdomTree Emerging Markets Equity Income Fund (DEM)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
WisdomTree Middle East Dividend Fund (GULF)
WisdomTree Europe Hedged Equity Fund (HEDJ)
WisdomTree China Dividend ex-Financials Fund (CHXF)
WisdomTree United Kingdom Hedged Equity Fund (DXPS)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
WisdomTree Emerging Markets Dividend Growth Fund (DGRE)
WisdomTree Emerging Markets Consumer Growth Fund (EMCG)
WisdomTree Germany Hedged Equity Fund (DXGE)
WisdomTree Korea Hedged Equity Fund (DXKW)
WisdomTree Domestic and International
Earnings Funds
WisdomTree Total Earnings Fund (EXT)
WisdomTree Earnings 500 Fund (EPS)
WisdomTree MidCap Earnings Fund (EZM)
WisdomTree SmallCap Earnings Fund (EES)
WisdomTree LargeCap Value Fund (EZY)
WisdomTree India Earnings Fund (EPI)
WisdomTree Currency Strategy Funds
WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU)
WisdomTree Brazilian Real Strategy Fund (BZF)
WisdomTree Chinese Yuan Strategy Fund (CYB)
WisdomTree Commodity Currency Strategy Fund (CCX)
WisdomTree Emerging Currency Strategy Fund (CEW)
WisdomTree Indian Rupee Strategy Fund (ICN)
WisdomTree Fixed Income Funds
WisdomTree Asia Local Debt Fund (ALD)
WisdomTree Australia & New Zealand Debt Fund (AUNZ)
WisdomTree Barclays U.S. Aggregate Bond Negative Duration Fund (AGND)
WisdomTree Barclays U.S. Aggregate Bond Zero Duration Fund (AGZD)
WisdomTree Bloomberg Floating Rate Treasury Fund (USFR)
WisdomTree BofA Merrill Lynch High Yield Bond Negative Duration
Fund (HYND)
WisdomTree BofA Merrill Lynch High Yield Bond Zero Duration
Fund (HYZD)
WisdomTree Emerging Markets Corporate Bond Fund (EMCB)
WisdomTree Emerging Markets Local Debt Fund (ELD)
WisdomTree Euro Debt Fund (EU)
WisdomTree Global Corporate Bond Fund (GLCB)
WisdomTree Japan Interest Rate Strategy Fund (JGBB)
WisdomTree Alternative Funds
WisdomTree Global Real Return Fund (RRF)
WisdomTree Managed Futures Strategy Fund (WDTI)
WisdomTree International Dividend
Sector Funds
WisdomTree Commodity Country Equity Fund (CCXE)
WisdomTree Global Natural Resources Fund (GNAT)
WisdomTree Global ex-U.S. Utilities Fund (DBU)
WisdomTree Global ex-U.S. Real Estate Fund (DRW)
The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series
(“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree Investments, Inc., serves as the
investment adviser to the Trust. None of the WisdomTree entities are affiliated with ALPS Distributors, Inc., the Funds’ distributor. WisdomTree Investments,
its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on
information contained herein.
Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing
this and other information, is available at www.wisdomtree.com, or by calling 1-866-909-WISE (9473). Investors should read the prospectus
carefully before investing. There are risks associated with investing, including possible loss of principal. Past performance does not guarantee
future results. Indexes are unmanaged and you cannot invest directly in an index.
There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from
currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate
fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted
by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller
companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less
efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention
or political developments. Inflation protected securities do not eliminate risks associated with inflation or deflation. Investments in currency involve
additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less
liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some
issuers the Funds can be adversely impacted by changes affecting such issuers. Due to the investment strategy of certain Funds they may make
higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.
The Dow Jones Global Select Real Estate Securities (ex-US) Index is calculated, distributed and marketed by Dow Jones Indexes, a licensed
trademark of CME Group Index Services LLC, and has been licensed for use.
Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage
accounts, but may be redeemed from the Funds only in large amounts of 50,000 shares or more.
WisdomTree Trust
245 Park Avenue, 35th Floor
New York, NY 10167
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WisdomTree International Dividend and Sector Funds
WisdomTree DEFA Fund (DWM)
WisdomTree DEFA Equity Income Fund (DTH)
WisdomTree Global Equity Income Fund (DEW)
WisdomTree Europe SmallCap Dividend Fund (DFE)
WisdomTree Japan Hedged Equity Fund (DXJ)
WisdomTree Global ex-U.S. Dividend Growth Fund (DNL)
(formerly, WisdomTree Global ex-U.S. Growth Fund)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
WisdomTree Asia Pacific ex-Japan Fund (AXJL)
WisdomTree Australia Dividend Fund (AUSE)
WisdomTree International LargeCap Dividend Fund (DOL)
WisdomTree International Dividend ex-Financials Fund (DOO)
WisdomTree International MidCap Dividend Fund (DIM)
WisdomTree International SmallCap Dividend Fund (DLS)
WisdomTree Emerging Markets Equity Income Fund (DEM)
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)
WisdomTree Middle East Dividend Fund (GULF)
WisdomTree Europe Hedged Equity Fund (HEDJ)
WisdomTree Commodity Country Equity Fund (CCXE)
WisdomTree Global Natural Resources Fund (GNAT)
WisdomTree Global ex-U.S. Utilities Fund (DBU)
WisdomTree Global ex-U.S. Real Estate Fund (DRW)
WisdomTree China Dividend ex-Financials Fund (CHXF)
WisdomTree United Kingdom Hedged Equity Fund (DXPS)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
WisdomTree Emerging Markets Dividend Growth Fund (DGRE)
WisdomTree Emerging Markets Consumer Growth Fund (EMCG)
WisdomTree Germany Hedged Equity Fund (DXGE)
WisdomTree Korea Hedged Equity Fund (DXKW)
WisdomTree Fund shares are distributed by ALPS Distributors, Inc.
WIS006647 5/2015

Annual Report 2013-14

m - Fulton History

平成 28 年6月 28 日 各 位 日 本 証 券 業 協 会 会員の商号の変更