International Equity Fund-I Series
Data last refreshed: 3/5/2026, 3:00:45 AM
Fund Overview: Objective, Strategy and Holdings
- The International Equity Fund-I Series seeks to earn long-term capital appreciation primarily from a broadly diversified portfolio of foreign equities.
- The Fund holds interests in private real estate and private equity partnerships located in foreign countries.
Fund Managers
Frank Holsteen
Hoa Quach, CFA
Andrew Steedman, CFA
Associate, Public Equities
- With Wespath since 2022
- B.A. from Denison University
Amy Bulger
Holdings-Based Regional Allocations as of December 31, 2025
| Region | IEF-I (%) | IEF-I Benchmark (%) | Difference (%) |
|---|---|---|---|
| Europe (ex-United Kingdom) | 26.3 | 30.0 | -3.7 |
| Emerging Markets | 23.1 | 29.2 | -6.1 |
| Japan | 9.5 | 14.7 | -5.2 |
| United Kingdom | 5.9 | 8.9 | -3.0 |
| Pacific (ex-Japan) | 7.5 | 7.5 | 0.0 |
| North America | 15.4 | 8.6 | 6.8 |
| Africa/Mideast | 0.4 | 0.9 | -0.5 |
| Frontier | 1.5 | 0.2 | 1.3 |
| Cash (equitized) | 2.7 | 0.0 | 2.7 |
| Other | 0.1 | 0.0 | 0.1 |
| Alts | 7.6 | 0.0 | 7.6 |
Holdings-Based Sector Allocations as of December 31, 2025
| Sector | IEF-I (%) | IEF-I Benchmark (%) | Difference (%) |
|---|---|---|---|
| Communication Services | 4.7 | 5.3 | -0.6 |
| Consumer Discretionary | 9.1 | 10.0 | -0.9 |
| Consumer Staples | 3.6 | 5.9 | -2.3 |
| Energy | 2.1 | 4.3 | -2.2 |
| Financials | 17.6 | 23.7 | -6.1 |
| Health Care | 7.1 | 7.6 | -0.5 |
| Industrials | 17.6 | 15.4 | 2.2 |
| Information Technology | 14.0 | 14.2 | -0.2 |
| Materials | 5.6 | 7.7 | -2.1 |
| Real Estate | 1.0 | 2.6 | -1.6 |
| Utilities | 2.0 | 3.1 | -1.1 |
| Alternatives | 7.6 | 0.0 | 7.6 |
| Cash | 2.7 | 0.0 | 2.7 |
| Unassigned | 5.3 | 0.2 | 5.1 |
Holdings-Based Style Allocations as of December 31, 2025
| Style | IEF-I (%) | IEF-I Benchmark (%) | Difference (%) |
|---|---|---|---|
| Large Cap Core | 14.0 | 12.1 | 1.9 |
| Large Cap Growth | 28.5 | 26.9 | 1.6 |
| Large Cap Value | 17.5 | 29.4 | -11.9 |
| Mid Cap Core | 4.1 | 2.0 | 2.1 |
| Mid Cap Growth | 10.3 | 8.0 | 2.3 |
| Mid Cap Value | 7.3 | 8.0 | -0.7 |
| Small Cap Core | 0.7 | 1.9 | -1.2 |
| Small Cap Growth | 4.2 | 5.7 | -1.5 |
| Small Cap Value | 3.0 | 6.0 | -3.0 |
| Alternatives | 7.6 | 0.0 | 7.6 |
| Cash | 2.7 | 0.0 | 2.7 |
| Unassigned | 0.1 | 0.0 | 0.1 |
Fund Characteristics as of December 31, 2025
| col_0 | IEF-I | IEF-I Benchmark |
|---|---|---|
| IEF-I | IEF-I Benchmark | |
| Wgt. Mkt. Cap ($MM) | $147,960 | $133,771 |
| Price/Earnings | 18.48 | 17.00 |
| Price to Book | 2.62 | 2.09 |
| ***Dividend Yield | 2.04% | 2.55% |
Top 10 Stock Holdings as of December 31, 2025
| Company | Country | Fund % | % of IEF Benchmark |
|---|---|---|---|
| TSMC | Taiwan | 3.84% | 3.13% |
| Tencent Holdings Ltd | China | 1.86% | 1.27% |
| Samsung Electronics Co., Ltd. | South Korea | 1.70% | 1.02% |
| Alibaba Group Holding Limited | China | 1.27% | 0.81% |
| Anglogold Ashanti PLC | United Kingdom | 1.26% | 0.00% |
| ASML Holding NV | Netherlands | 1.25% | 1.08% |
| AIA Group Limited | Hong Kong | 1.25% | 0.28% |
| Roche Holding AG | Switzerland | 0.87% | 0.75% |
| Spotify Technology SA | Sweden | 0.86% | 0.23% |
| SK hynix Inc. | South Korea | 0.83% | 0.64% |
Fund Risk Characteristics as of December 31, 2025
| col_0 | IEF-I | IEF-I Benchmark |
|---|---|---|
| IEF-I | IEF-I Benchmark | |
| Beta | 1.08 | 1.00 |
| R-Squared | 0.98 | 1.00 |