| COMMON STOCKS - 97.3% | | Shares | | | Value |
| Communication Services - 6.8% | | |
| Alphabet, Inc. - Class A | | 706,850 | | $ | 121,253,049 |
| Alphabet, Inc. - Class C | | 559,990 | | | 96,962,268 |
Baidu, Inc. - ADR (a) | | 1,047,930 | | | 92,815,160 |
| Electronic Arts, Inc. | | 81,300 | | | 12,271,422 |
Ibotta, Inc. - Class A (a) | | 42,730 | | | 2,873,165 |
IMAX Corp. (a) | | 581,900 | | | 12,278,090 |
Live Nation Entertainment, Inc. (a) | | 66,230 | | | 6,370,664 |
Madison Square Garden Entertainment Corp. - Class A (a) | | 76,100 | | | 3,005,189 |
| Meta Platforms, Inc. - Class A | | 33,550 | | | 15,930,546 |
Netflix, Inc. (a) | | 16,700 | | | 10,493,445 |
Pinterest, Inc. - Class A (a) | | 1,310,750 | | | 41,878,463 |
Snap, Inc. - Class A (a) | | 92,500 | | | 1,232,100 |
Sphere Entertainment Co. (a) | | 560,418 | | | 24,927,393 |
| T-Mobile US, Inc. | | 87,400 | | | 15,931,272 |
WildBrain Ltd. - CAD (a) | | 5,374,200 | | | 5,177,044 |
ZoomInfo Technologies, Inc. (a) | | 474,769 | | | 5,393,376 |
| | | | | | 468,792,646 |
| | | | | | | |
| Consumer Discretionary - 11.6% | | |
| Alibaba Group Holding Ltd. - ADR | | 1,254,100 | | | 98,885,785 |
Amazon.com, Inc. (a) | | 173,000 | | | 32,347,540 |
Boot Barn Holdings, Inc. (a) | | 63,200 | | | 8,435,936 |
Burlington Stores, Inc. (a) | | 93,900 | | | 24,444,048 |
Capri Holdings Ltd. (a) | | 205,637 | | | 6,897,065 |
CarMax, Inc. (a) | | 737,200 | | | 62,249,168 |
Deckers Outdoor Corp. (a) | | 2,600 | | | 2,398,838 |
Duolingo, Inc. (a) | | 4,000 | | | 687,760 |
| eBay, Inc. | | 218,300 | | | 12,139,663 |
| Entain PLC - GBP | | 4,186,609 | | | 30,731,652 |
Etsy, Inc. (a) | | 14,200 | | | 924,988 |
Five Below, Inc. (a) | | 3,000 | | | 218,220 |
Flutter Entertainment PLC - GBP (a) | | 22,700 | | | 4,486,714 |
| Gildan Activewear, Inc. | | 97,000 | | | 3,944,990 |
GrowGeneration Corp. (a) | | 846,100 | | | 1,954,491 |
iRobot Corp. (a) | | 627,605 | | | 7,399,463 |
Mobileye Global, Inc. - Class A (a) | | 337,200 | | | 7,081,200 |
Norwegian Cruise Line Holdings Ltd. (a) | | 1,034,165 | | | 19,059,661 |
Ollie's Bargain Outlet Holdings, Inc. (a) | | 144,100 | | | 14,069,924 |
| Restaurant Brands International, Inc. | | 20,000 | | | 1,399,800 |
Rivian Automotive, Inc. - Class A (a) | | 35,460 | | | 581,898 |
Royal Caribbean Cruises Ltd. | | 573,900 | | | 89,941,608 |
| Sony Group Corp. - ADR | | 2,001,830 | | | 177,342,120 |
| Tapestry, Inc. | | 325,000 | | | 13,029,250 |
Tesla, Inc. (a) | | 635,250 | | | 147,422,467 |
Ulta Beauty, Inc. (a) | | 22,400 | | | 8,173,536 |
XPeng, Inc. - ADR (a) | | 3,433,130 | | | 27,671,028 |
| | | | | | 803,918,813 |
| | | | | | | |
| Consumer Staples - 0.4% | | |
| Dollar General Corp. | | 7,000 | | | 842,730 |
e.l.f. Beauty, Inc. (a) | | 20,500 | | | 3,537,890 |
Performance Food Group Co. (a) | | 361,991 | | | 24,977,379 |
| | | | | | 29,357,999 |
| | | | | | | |
| Energy - 1.6% | | |
| Coterra Energy, Inc. | | 499,350 | | | 12,883,230 |
| EOG Resources, Inc. | | 120,000 | | | 15,216,000 |
| New Fortress Energy, Inc. | | 1,854,500 | | | 36,607,830 |
Transocean Ltd. (a) | | 8,429,982 | | | 48,809,596 |
| | | | | | 113,516,656 |
| | | | | | | |
| Financials - 5.1% | | |
| CME Group, Inc. - Class A | | 198,671 | | | 38,484,559 |
| Discover Financial Services | | 171,903 | | | 24,752,313 |
Flywire Corp. (a) | | 1,821,383 | | | 33,349,523 |
Galaxy Digital Holdings Ltd. - CAD (a) | | 116,700 | | | 1,401,431 |
| LPL Financial Holdings, Inc. | | 16,000 | | | 3,544,320 |
| MarketAxess Holdings, Inc. | | 558,040 | | | 124,738,681 |
Marqeta, Inc. - Class A (a) | | 450,473 | | | 2,428,049 |
| Morgan Stanley | | 221,533 | | | 22,864,421 |
NMI Holdings, Inc. - Class A (a) | | 436,300 | | | 17,168,405 |
| Progressive Corp. (The) | | 99,490 | | | 21,302,799 |
| Tradeweb Markets, Inc. - Class A | | 503,100 | | | 56,186,208 |
WEX, Inc. (a) | | 36,250 | | | 6,650,063 |
| | | | | | 352,870,772 |
| | | | | | | |
| Health Care - 28.7% | | |
10X Genomics, Inc. - Class A (a) | | 287,800 | | | 5,948,826 |
Accuray, Inc. (a) | | 137,800 | | | 253,552 |
Adaptive Biotechnologies Corp. (a) | | 104,230 | | | 474,247 |
Alkermes PLC (a) | | 927,220 | | | 25,331,650 |
Allogene Therapeutics, Inc. (a) | | 1,969,911 | | | 5,791,538 |
Amicus Therapeutics, Inc. (a) | | 1,052,500 | | | 10,851,275 |
BeiGene Ltd. - ADR (a) | | 704,957 | | | 117,431,737 |
Biogen, Inc. (a) | | 866,514 | | | 184,740,785 |
BioMarin Pharmaceutical, Inc. (a) | | 1,948,980 | | | 164,357,483 |
BioNTech SE - ADR (a) | | 1,354,202 | | | 116,732,212 |
Boston Scientific Corp. (a) | | 542,800 | | | 40,102,064 |
Bridgebio Pharma, Inc. (a) | | 440,100 | | | 11,420,595 |
Cerus Corp. (a) | | 8,584,000 | | | 19,399,840 |
Charles River Laboratories International, Inc. (a) | | 13,750 | | | 3,356,375 |
Elanco Animal Health, Inc. (a) | | 626,992 | | | 8,175,976 |
| Eli Lilly & Co. | | 525,094 | | | 422,317,351 |
Exact Sciences Corp. (a) | | 446,600 | | | 20,400,688 |
FibroGen, Inc. (a) | | 3,904,871 | | | 2,109,021 |
Galapagos N.V. - ADR (a) | | 604,700 | | | 16,127,349 |
Glaukos Corp. (a) | | 831,535 | | | 97,430,956 |
Globus Medical, Inc. - Class A (a) | | 41,050 | | | 2,953,958 |
GRAIL, Inc. (a) | | 1,503,985 | | | 23,131,289 |
Guardant Health, Inc. (a) | | 22,490 | | | 790,074 |
Health Catalyst, Inc. (a) | | 2,114,406 | | | 15,583,172 |
Illumina, Inc. (a) | | 197,110 | | | 24,165,686 |
Immunocore Holdings PLC - ADR (a) | | 598,730 | | | 23,769,581 |
Immunome, Inc. (a) | | 231,600 | | | 3,568,956 |
Insulet Corp. (a) | | 331,946 | | | 64,513,705 |
LivaNova PLC (a) | | 1,109,910 | | | 54,829,554 |
Mereo Biopharma Group PLC - ADR (a) | | 10,000 | | | 40,600 |
Mural Oncology PLC (a) | | 45,260 | | | 160,673 |
Nektar Therapeutics (a) | | 3,692,786 | | | 4,948,333 |
Nurix Therapeutics, Inc. (a) | | 218,000 | | | 4,769,840 |
OraSure Technologies, Inc. (a) | | 558,750 | | | 2,503,200 |
Penumbra, Inc. (a) | | 19,220 | | | 3,211,470 |
PolyPeptide Group AG - CHF (a) | | 1,015,675 | | | 34,019,761 |
Prothena Corp. PLC (a) | | 25,200 | | | 586,656 |
Pulmonx Corp. (a) (b) | | 3,870,971 | | | 26,748,410 |
QIAGEN N.V. - EUR (a) | | 183,000 | | | 8,175,585 |
Repligen Corp. (a) | | 18,986 | | | 3,177,307 |
Rhythm Pharmaceuticals, Inc. (a) (b) | | 4,824,910 | | | 232,608,911 |
| Roche Holding AG - CHF | | 118,800 | | | 38,681,903 |
Standard BioTools, Inc. (a) | | 2,117,269 | | | 4,742,683 |
Wave Life Sciences Ltd. (a) | | 2,587,066 | | | 17,100,506 |
Xencor, Inc. (a) (b) | | 5,844,457 | | | 119,343,812 |
Zentalis Pharmaceuticals, Inc. (a) | | 886,480 | | | 3,448,407 |
| | | | | | 1,990,327,552 |
| | | | | | | |
| Industrials - 12.1% | | |
| AECOM | | 1,555,500 | | | 140,943,855 |
Alaska Air Group, Inc. (a) | | 381,100 | | | 14,302,683 |
| Allegiant Travel Co. | | 25,100 | | | 1,407,357 |
American Airlines Group, Inc. (a) | | 5,353,200 | | | 56,958,048 |
Array Technologies, Inc. (a) | | 837,900 | | | 8,814,708 |
Axon Enterprise, Inc. (a) | | 86,500 | | | 25,950,865 |
Chart Industries, Inc. (a) | | 18,600 | | | 2,996,088 |
Controladora Vuela Compania de Aviacion, S.A.B. de C.V. - ADR (a) | | 41,000 | | | 250,920 |
| Curtiss-Wright Corp. | | 182,700 | | | 53,841,690 |
| Delta Air Lines, Inc. | | 2,146,837 | | | 92,356,928 |
| FedEx Corp. | | 33,500 | | | 10,125,375 |
Frontier Group Holdings, Inc. (a) | | 193,000 | | | 760,420 |
| GFL Environmental, Inc. | | 356,300 | | | 13,831,566 |
Gibraltar Industries, Inc. (a) | | 95,600 | | | 7,100,212 |
| Griffon Corp. | | 184,600 | | | 13,302,276 |
Hertz Global Holdings, Inc. (a) | | 296,200 | | | 1,208,496 |
| Jacobs Solutions, Inc. | | 766,500 | | | 112,177,275 |
JetBlue Airways Corp. (a) | | 1,270,700 | | | 8,145,187 |
Li-Cycle Holdings Corp. (a) | | 390,675 | | | 1,359,549 |
Loar Holdings, Inc. (a) | | 3,400 | | | 212,500 |
Lyft, Inc. - Class A (a) | | 563,110 | | | 6,785,475 |
Nextracker, Inc. - Class A (a) | | 947,514 | | | 46,560,838 |
NN, Inc. (a) | | 345,300 | | | 1,353,576 |
| Old Dominion Freight Line, Inc. | | 5,200 | | | 1,092,936 |
RXO, Inc. (a) | | 111,300 | | | 3,529,323 |
| Ryanair Holdings PLC - ADR | | 15,800 | | | 1,600,540 |
| Southwest Airlines Co. | | 1,575,500 | | | 42,443,970 |
Stratasys Ltd. (a) | | 837,800 | | | 7,171,568 |
Sun Country Airlines Holdings, Inc. (a) | | 106,815 | | | 1,399,277 |
| TransDigm Group, Inc. | | 36,700 | | | 47,497,874 |
Uber Technologies, Inc. (a) | | 318,200 | | | 20,514,354 |
United Airlines Holdings, Inc. (a) | | 1,873,740 | | | 85,105,271 |
WillScot Holdings Corp. (a) | | 120,000 | | | 4,920,000 |
XPO, Inc. (a) | | 40,000 | | | 4,595,600 |
| | | | | | 840,616,600 |
| | | | | | | |
| Information Technology - 29.9% | | |
Adobe, Inc. (a) | | 127,550 | | | 70,362,957 |
Ambarella, Inc. (a) | | 30,100 | | | 1,584,464 |
| Applied Materials, Inc. | | 77,500 | | | 16,445,500 |
Arlo Technologies, Inc. (a) | | 2,989,400 | | | 45,319,304 |
| ASML Holding N.V. - ADR | | 34,200 | | | 32,035,140 |
Aurora Innovation, Inc. - Class A (a) | | 3,295,500 | | | 13,182,000 |
Autodesk, Inc. (a) | | 37,700 | | | 9,331,504 |
Axcelis Technologies, Inc. (a) | | 914,746 | | | 115,578,157 |
BlackBerry Ltd. (a) | | 8,734,257 | | | 21,136,902 |
| Broadcom, Inc. | | 146,900 | | | 23,603,892 |
Credo Technology Group Holding Ltd. (a) | | 609,200 | | | 16,905,300 |
Crowdstrike Holdings, Inc. - Class A (a) | | 115,450 | | | 26,779,782 |
CyberArk Software Ltd. (a) | | 59,500 | | | 15,254,610 |
| Dell Technologies, Inc. - Class C | | 83,000 | | | 9,435,440 |
Descartes Systems Group, Inc. (The) (a) | | 252,541 | | | 25,670,793 |
DocuSign, Inc. (a) | | 217,200 | | | 12,050,256 |
Flex Ltd. (a) | | 5,426,900 | | | 174,474,835 |
FormFactor, Inc. (a) | | 792,855 | | | 42,465,314 |
Gitlab, Inc. - Class A (a) | | 154,500 | | | 7,915,035 |
| Hewlett Packard Enterprise Co. | | 565,000 | | | 11,249,150 |
| HP, Inc. | | 184,000 | | | 6,640,560 |
HubSpot, Inc. (a) | | 88,950 | | | 44,210,818 |
indie Semiconductor, Inc. - Class A (a) (b) | | 11,177,292 | | | 66,840,206 |
| Intuit, Inc. | | 83,800 | | | 54,247,930 |
| Jabil, Inc. | | 563,000 | | | 63,433,210 |
Jamf Holding Corp. (a) | | 39,000 | | | 714,090 |
Keysight Technologies, Inc. (a) | | 35,000 | | | 4,884,950 |
| KLA Corp. | | 171,700 | | | 141,321,119 |
| Marvell Technology, Inc. | | 153,400 | | | 10,274,732 |
MaxLinear, Inc. (a) | | 1,512,700 | | | 21,389,578 |
| Micron Technology, Inc. | | 2,819,025 | | | 309,585,326 |
MongoDB, Inc. (a) | | 13,900 | | | 3,507,804 |
| NetApp, Inc. | | 590,537 | | | 74,986,388 |
nLIGHT, Inc. (a) | | 184,543 | | | 2,227,434 |
Nutanix, Inc. - Class A (a) | | 1,250,225 | | | 63,148,865 |
| NVIDIA Corp. | | 1,119,000 | | | 130,945,380 |
Okta, Inc. - Class A (a) | | 322,200 | | | 30,267,468 |
OneStream, Inc. (a) | | 39,300 | | | 1,094,505 |
OSI Systems, Inc. (a) | | 187,920 | | | 27,808,402 |
Palo Alto Networks, Inc. (a) | | 70,650 | | | 22,942,174 |
PROS Holdings, Inc. (a) | | 274,730 | | | 6,620,993 |
| QUALCOMM, Inc. | | 306,623 | | | 55,483,432 |
Rapid7, Inc. (a) | | 97,830 | | | 3,848,632 |
RingCentral, Inc. - Class A (a) | | 9,000 | | | 315,450 |
Trimble, Inc. (a) | | 494,600 | | | 26,975,484 |
Unity Software, Inc. (a) | | 104,500 | | | 1,709,620 |
| Universal Display Corp. | | 670,729 | | | 149,317,690 |
Western Digital Corp. (a) | | 207,000 | | | 13,879,350 |
Wolfspeed, Inc. (a) | | 1,347,400 | | | 25,398,490 |
Zoom Video Communications, Inc. - Class A (a) | | 370,700 | | | 22,390,280 |
| | | | | | 2,077,190,695 |
| | | | | | | |
| Materials - 1.0% | | |
| Albemarle Corp. | | 112,600 | | | 10,547,242 |
Bioceres Crop Solutions Corp. (a) | | 30,000 | | | 333,000 |
Ingevity Corp. (a) | | 54,500 | | | 2,501,005 |
Ivanhoe Electric, Inc. (a) | | 333,100 | | | 3,304,352 |
Ivanhoe Mines Ltd. - Class A - CAD (a) | | 2,855,600 | | | 37,332,836 |
Perimeter Solutions SA (a) | | 1,191,852 | | | 11,549,046 |
| | | | | | 65,567,481 |
| | | | | | | |
| Real Estate - 0.1% | | |
| EPR Properties | | 131,900 | | | 5,935,500 |
TOTAL COMMON STOCKS (Cost $3,740,431,968) | | | 6,748,094,714 |
| | | | | | | |
RIGHTS - 0.0%(e) | | Contracts | | | Value |
Health Care - 0.0%(e) | | |
ABIOMED, Inc. - CVR (Issue Date 12/23/22) (a) (c) (d) | | 349,922 | | | 356,921 |
Epizyme, Inc. - CVR (Issue Date 8/15/22) (a) (c) (d) | | 10,344,756 | | | 206,895 |
Mereo BioPharma Group PLC - CVR (Issue Date 4/23/19) (a) (c) (d) | | 3,786,300 | | | 0 |
| Total Health Care | | | 563,816 |
TOTAL RIGHTS (Cost $0) | | | 563,816 |
| | | | | | | |
WARRANTS - 0.0%(e) | | Contracts | | | Value |
Materials - 0.0%(e) | | |
Perimeter Solutions SA (Expiration Date 11/8/24) (a) | | 364,100 | | | 1,802 |
TOTAL WARRANTS (Cost $3,641) | | | 1,802 |
| | | | | | | |
| SHORT-TERM INVESTMENTS - 2.3% | | | | |
| Money Market Funds - 2.3% | | Shares | | | |
Dreyfus Treasury Securities Cash Management - Institutional Shares - 5.17% (e) | | 163,547,205 | | | 163,547,205 |
TOTAL SHORT-TERM INVESTMENTS (Cost $163,547,205) | | | 163,547,205 |
| | | | | | | |
TOTAL INVESTMENTS - 99.6% (Cost $3,903,982,814) | | | 6,912,207,537 |
| Other Assets in Excess of Liabilities - 0.4% | | | 25,781,014 |
| TOTAL NET ASSETS - 100.0% | | | | | $ | 6,937,988,551 |
| | | |
Security Valuation
Securities traded on a national securities exchange are valued at the last reported sales price at the close of regular trading on each day the exchanges are open for trading. Securities traded on the National Association of Securities Dealers Automated Quotations (“NASDAQ”) are valued at the NASDAQ Official Closing Price, which may not necessarily represent the last sale price. Non-U.S. traded stocks are valued at the last sale price or official closing price in the primary local market where the stock is traded. Securities traded on an exchange for which there have been no sales are valued at the mean between the bid and ask price. Because trading on most non-U.S. exchanges is normally completed before the close of the New York Stock Exchange, the value of securities traded on foreign exchanges can change by the time the Fund calculates its net asset value per share (“NAV”). To address these changes, the Fund may utilize adjustment factors provided by an independent pricing service to systematically value foreign securities at fair value. These adjustment factors are based on statistical analyses of subsequent movement in securities indices, specific security prices, and exchange rates in foreign markets.
Securities for which quotations are not readily available are valued at their respective fair values as determined in good faith by a valuation committee of the Investment Advisor in accordance with procedures approved by the Trust’s Board of Trustees. Pursuant to those procedures, the Board of Trustees has designated the Investment Advisor as the Fund’s valuation designee responsible for determining whether market quotations are readily available and reliable, and making good faith determinations of fair value when appropriate. In determining fair value, the Fund takes into account all relevant factors and available information. Consequently, the price of a security used by the Fund to calculate its NAV may differ from quoted or published prices for the same security. Fair value pricing involves subjective judgments, and there is no single standard for determining a security’s fair value. As a result, different mutual funds could reasonably arrive at a different fair value for the same security. It is possible that the fair value determined for a security is materially different from the value that could be realized upon the sale of that security or from the values that other mutual funds may determine.
Investments in other funds are valued at their respective net asset values as determined by those funds, in accordance with the 1940 Act.
Valuation Measurements
The Fund has adopted fair valuation accounting standards which establish an authoritative definition of fair value and set forth a hierarchy for measuring fair value. These standards require additional disclosure about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. These standards define fair value as the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy is organized into three levels based upon the assumptions (referred to as “inputs”) used to value the asset or liability. These standards state that “observable inputs” reflect the significant assumptions that market participants would use in valuing an asset or liability based on market data obtained from independent sources. “Unobservable inputs” reflect the Fund’s own assumptions about the inputs market participants would use to value the asset or liability.
Various inputs are used in determining the value of the Fund’s investments, and the lowest level for any significant input determines leveling. These inputs are summarized in the three broad levels below:
| Level 1 – | Unadjusted quoted prices in active markets for identical securities to which the Trust has access at the date of measurement.
|
| Level 2 – | Other significant observable inputs (including quoted prices for similar or related securities in both active and inactive markets, interest rates, foreign exchange rates, and fair value estimates for foreign securities indices).
|
| Level 3 – | Significant unobservable inputs to the extent observable inputs are unavailable (including the Fund’s own assumptions in determining fair value of investments based on the best available information). |
The following table provides the fair value measurements of the Fund assets by level within the fair value hierarchy for the Fund as of July 31, 2024. These assets are measured on a recurring basis.
