Quarterly Holdings Report
for
Strategic Advisers® Small-Mid Cap Fund
Offered exclusively to certain clients of Strategic Advisers LLC - not available for sale to the general publicNovember 30, 2019
SMC-QTLY-0120
1.912861.109
Schedule of Investments November 30, 2019 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 90.4% | |||
Shares | Value | ||
COMMUNICATION SERVICES - 2.5% | |||
Diversified Telecommunication Services - 0.3% | |||
Bandwidth, Inc. (a) | 65,262 | $3,650,104 | |
CenturyLink, Inc. | 509,400 | 7,381,206 | |
Cogent Communications Group, Inc. | 40,818 | 2,558,472 | |
GCI Liberty, Inc. (a) | 36,400 | 2,584,036 | |
Ooma, Inc. (a) | 153,334 | 2,128,276 | |
Vonage Holdings Corp. (a) | 697,012 | 5,513,365 | |
23,815,459 | |||
Entertainment - 1.0% | |||
Cinemark Holdings, Inc. | 968,417 | 32,800,284 | |
Electronic Arts, Inc. (a) | 19,259 | 1,945,352 | |
Glu Mobile, Inc. (a) | 261,397 | 1,445,525 | |
Live Nation Entertainment, Inc. (a) | 87,290 | 6,093,715 | |
Nintendo Co. Ltd. ADR (b) | 159,636 | 7,724,786 | |
Roku, Inc. Class A (a)(b) | 32,230 | 5,168,725 | |
Sciplay Corp. (A Shares) | 218,631 | 2,575,473 | |
The Madison Square Garden Co. (a) | 28,134 | 7,927,599 | |
World Wrestling Entertainment, Inc. Class A (b) | 259,857 | 16,116,331 | |
81,797,790 | |||
Interactive Media & Services - 0.7% | |||
Alphabet, Inc. Class C (a) | 7,148 | 9,327,854 | |
ANGI Homeservices, Inc. Class A (a)(b) | 452,282 | 3,505,186 | |
Care.com, Inc. (a) | 592,627 | 7,425,616 | |
CarGurus, Inc. Class A (a) | 167,796 | 6,726,942 | |
Facebook, Inc. Class A (a) | 44,389 | 8,950,598 | |
Match Group, Inc. (b) | 53,109 | 3,743,122 | |
Pinterest, Inc. Class A | 260,970 | 5,083,696 | |
QuinStreet, Inc. (a) | 287,420 | 4,523,991 | |
TripAdvisor, Inc. | 87,511 | 2,485,312 | |
Yelp, Inc. (a) | 136,588 | 4,736,872 | |
56,509,189 | |||
Media - 0.4% | |||
Altice U.S.A., Inc. Class A (a) | 87,200 | 2,230,576 | |
AMC Networks, Inc. Class A (a) | 136,050 | 5,228,402 | |
Boston Omaha Corp. (a) | 120,983 | 2,580,567 | |
Criteo SA sponsored ADR (a) | 468,219 | 8,357,709 | |
Entercom Communications Corp. Class A | 1,289,431 | 6,099,009 | |
National CineMedia, Inc. | 1,141,484 | 7,659,358 | |
Nexstar Broadcasting Group, Inc. Class A | 31,710 | 3,415,484 | |
TechTarget, Inc. (a) | 59,939 | 1,589,582 | |
37,160,687 | |||
Wireless Telecommunication Services - 0.1% | |||
Boingo Wireless, Inc. (a) | 629,528 | 7,245,867 | |
TOTAL COMMUNICATION SERVICES | 206,528,992 | ||
CONSUMER DISCRETIONARY - 12.4% | |||
Auto Components - 1.1% | |||
Autoliv, Inc. | 75,788 | 6,193,395 | |
BorgWarner, Inc. | 186,700 | 7,850,735 | |
Cooper Tire & Rubber Co. | 78,500 | 2,262,370 | |
Cooper-Standard Holding, Inc. (a) | 226,487 | 6,439,025 | |
Dana, Inc. | 672,702 | 11,402,299 | |
Dorman Products, Inc. (a) | 26,246 | 1,950,603 | |
Fox Factory Holding Corp. (a) | 65,190 | 4,297,977 | |
Gentex Corp. | 354,871 | 10,078,336 | |
LCI Industries | 142,970 | 15,220,586 | |
Lear Corp. | 101,538 | 12,216,037 | |
Standard Motor Products, Inc. | 38,853 | 1,957,026 | |
Stoneridge, Inc. (a) | 99,767 | 3,006,977 | |
The Goodyear Tire & Rubber Co. | 208,800 | 3,338,712 | |
86,214,078 | |||
Automobiles - 0.2% | |||
Harley-Davidson, Inc. | 131,000 | 4,765,780 | |
Thor Industries, Inc. | 245,060 | 15,627,476 | |
20,393,256 | |||
Distributors - 0.8% | |||
LKQ Corp. (a) | 698,615 | 24,647,137 | |
Pool Corp. | 201,314 | 41,561,275 | |
66,208,412 | |||
Diversified Consumer Services - 1.7% | |||
American Public Education, Inc. (a) | 14,913 | 369,246 | |
Bright Horizons Family Solutions, Inc. (a) | 246,898 | 37,163,087 | |
Chegg, Inc. (a) | 183,159 | 7,101,074 | |
Frontdoor, Inc. (a) | 729,640 | 33,023,506 | |
Grand Canyon Education, Inc. (a) | 162,191 | 13,817,051 | |
Houghton Mifflin Harcourt Co. (a) | 529,053 | 3,105,541 | |
HyreCar, Inc. (a)(b) | 452,185 | 1,184,725 | |
Park Lawn Corp. | 517,654 | 11,851,132 | |
Service Corp. International | 86,800 | 3,820,936 | |
ServiceMaster Global Holdings, Inc. (a) | 185,267 | 7,260,614 | |
Strategic Education, Inc. | 136,874 | 19,400,521 | |
Weight Watchers International, Inc. (a) | 33,124 | 1,433,938 | |
139,531,371 | |||
Hotels, Restaurants & Leisure - 1.8% | |||
Bloomin' Brands, Inc. | 495,991 | 11,928,584 | |
Brinker International, Inc. | 34,848 | 1,561,190 | |
Chipotle Mexican Grill, Inc. (a) | 6,680 | 5,436,986 | |
Churchill Downs, Inc. | 27,850 | 3,620,779 | |
Cracker Barrel Old Country Store, Inc. (b) | 21,724 | 3,339,848 | |
Dave & Buster's Entertainment, Inc. | 142,272 | 5,716,489 | |
Denny's Corp. (a) | 53,483 | 1,045,058 | |
Domino's Pizza UK & IRL PLC | 1,282,424 | 5,138,216 | |
Domino's Pizza, Inc. | 10,000 | 2,943,000 | |
Dominos Pizza Enterprises Ltd. | 160,836 | 5,746,260 | |
Eldorado Resorts, Inc. (a) | 1,800 | 96,318 | |
Extended Stay America, Inc. unit | 398,515 | 5,882,081 | |
Great Canadian Gaming Corp. (a) | 182,141 | 5,803,062 | |
Jack in the Box, Inc. | 23,233 | 1,842,145 | |
Lindblad Expeditions Holdings (a) | 313,372 | 4,857,266 | |
Papa John's International, Inc. (b) | 135,053 | 8,546,154 | |
Penn National Gaming, Inc. (a) | 58,900 | 1,356,467 | |
Planet Fitness, Inc. (a) | 373,965 | 27,643,493 | |
Playa Hotels & Resorts NV (a) | 620,017 | 4,885,734 | |
Vail Resorts, Inc. | 64,445 | 15,638,868 | |
Wendy's Co. | 312,380 | 6,697,427 | |
Wingstop, Inc. | 26,439 | 2,115,120 | |
Wyndham Destinations, Inc. | 262,759 | 12,743,812 | |
144,584,357 | |||
Household Durables - 1.0% | |||
Cavco Industries, Inc. (a) | 7,720 | 1,544,077 | |
Ethan Allen Interiors, Inc. | 22,417 | 400,816 | |
Garmin Ltd. | 109,190 | 10,666,771 | |
Helen of Troy Ltd. (a) | 23,861 | 3,851,643 | |
La-Z-Boy, Inc. | 55,068 | 1,740,149 | |
Lennar Corp. Class A | 143,928 | 8,585,305 | |
LGI Homes, Inc. (a) | 11,200 | 809,424 | |
M.D.C. Holdings, Inc. | 213,386 | 8,443,684 | |
NVR, Inc. (a) | 1,683 | 6,381,751 | |
PulteGroup, Inc. | 155,000 | 6,145,750 | |
Skyline Champion Corp. (a) | 164,522 | 5,458,840 | |
Sonos, Inc. (a) | 168,436 | 2,332,839 | |
Taylor Morrison Home Corp. (a) | 368,979 | 8,567,692 | |
Tempur Sealy International, Inc. (a) | 67,700 | 5,746,376 | |
Toll Brothers, Inc. | 66,680 | 2,678,536 | |
Whirlpool Corp. | 39,900 | 5,709,690 | |
William Lyon Homes, Inc. (a) | 100,530 | 2,099,066 | |
81,162,409 | |||
Internet & Direct Marketing Retail - 0.5% | |||
Chewy, Inc. (b) | 331,469 | 8,207,172 | |
Etsy, Inc. (a) | 174,555 | 7,573,941 | |
Expedia, Inc. | 26,018 | 2,644,990 | |
GrubHub, Inc. (a)(b) | 152,077 | 6,557,560 | |
PetMed Express, Inc. (b) | 18,753 | 428,131 | |
Shutterstock, Inc. (a) | 372,982 | 15,508,592 | |
40,920,386 | |||
Leisure Products - 0.8% | |||
Brunswick Corp. | 554,219 | 32,571,451 | |
Callaway Golf Co. | 283,294 | 5,886,849 | |
Clarus Corp. | 296,508 | 3,733,036 | |
Hasbro, Inc. | 24,400 | 2,481,480 | |
Polaris, Inc. | 164,881 | 16,108,874 | |
Sturm, Ruger & Co., Inc. | 14,897 | 678,558 | |
61,460,248 | |||
Multiline Retail - 0.1% | |||
Dillard's, Inc. Class A (b) | 46,400 | 3,331,520 | |
Dollar Tree, Inc. (a) | 16,342 | 1,494,639 | |
Kohl's Corp. | 112,400 | 5,283,924 | |
10,110,083 | |||
Specialty Retail - 2.2% | |||
Aaron's, Inc. Class A | 287,642 | 16,798,293 | |
Advance Auto Parts, Inc. | 40,520 | 6,364,882 | |
America's Car Mart, Inc. (a) | 68,669 | 7,502,775 | |
American Eagle Outfitters, Inc. | 213,100 | 3,190,107 | |
Bed Bath & Beyond, Inc. (b) | 219,320 | 3,197,686 | |
Burlington Stores, Inc. (a) | 94,170 | 21,188,250 | |
CarMax, Inc. (a) | 24,573 | 2,389,970 | |
Conn's, Inc. (a) | 84,342 | 1,849,620 | |
DSW, Inc. Class A | 163,884 | 2,704,086 | |
Five Below, Inc. (a) | 62,619 | 7,746,596 | |
Foot Locker, Inc. | 306,738 | 12,284,857 | |
Group 1 Automotive, Inc. | 90,621 | 9,342,119 | |
Haverty Furniture Companies, Inc. | 104,300 | 2,097,473 | |
Lithia Motors, Inc. Class A (sub. vtg.) | 65,290 | 10,484,268 | |
Michaels Companies, Inc. (a)(b) | 403,938 | 3,304,213 | |
Monro, Inc. | 28,736 | 2,109,222 | |
National Vision Holdings, Inc. (a) | 227,172 | 6,860,594 | |
Office Depot, Inc. | 995,000 | 2,218,850 | |
Party City Holdco, Inc. (a)(b) | 603,961 | 1,165,645 | |
Penske Automotive Group, Inc. | 90,200 | 4,554,198 | |
Sally Beauty Holdings, Inc. (a) | 1,901,244 | 35,039,927 | |
Signet Jewelers Ltd. (b) | 161,846 | 2,973,111 | |
Sonic Automotive, Inc. Class A (sub. vtg.) | 111,800 | 3,661,450 | |
Tiffany & Co., Inc. | 16,600 | 2,221,080 | |
Ulta Beauty, Inc. (a) | 25,259 | 5,907,070 | |
177,156,342 | |||
Textiles, Apparel & Luxury Goods - 2.2% | |||
Capri Holdings Ltd. (a) | 329,769 | 12,247,621 | |
Carter's, Inc. | 248,206 | 25,642,162 | |
Columbia Sportswear Co. | 27,400 | 2,534,500 | |
Crocs, Inc. (a) | 373,312 | 13,028,589 | |
Deckers Outdoor Corp. (a) | 28,144 | 4,733,258 | |
Gildan Activewear, Inc. | 69,061 | 2,011,051 | |
Hanesbrands, Inc. | 2,243,570 | 33,810,600 | |
Levi Strauss & Co. Class A | 144,400 | 2,423,032 | |
PVH Corp. | 59,742 | 5,792,584 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 1,254,444 | 50,453,738 | |
Steven Madden Ltd. | 211,974 | 9,002,536 | |
Under Armour, Inc. Class C (non-vtg.) (a) | 454,869 | 7,869,234 | |
Unifi, Inc. (a) | 41,713 | 1,015,712 | |
Wolverine World Wide, Inc. | 248,250 | 7,968,825 | |
178,533,442 | |||
TOTAL CONSUMER DISCRETIONARY | 1,006,274,384 | ||
CONSUMER STAPLES - 3.4% | |||
Beverages - 0.4% | |||
Boston Beer Co., Inc. Class A (a) | 7,778 | 2,989,241 | |
Brown-Forman Corp. Class B (non-vtg.) | 150,253 | 10,190,158 | |
Cott Corp. | 384,734 | 5,155,662 | |
Cott Corp. | 606,165 | 8,104,426 | |
National Beverage Corp. (b) | 10,970 | 544,551 | |
Primo Water Corp. (a) | 125,539 | 1,280,498 | |
28,264,536 | |||
Food & Staples Retailing - 0.9% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 464,520 | 11,009,124 | |
Casey's General Stores, Inc. | 29,280 | 5,087,986 | |
Grocery Outlet Holding Corp. (b) | 162,378 | 5,379,583 | |
Performance Food Group Co. (a) | 570,381 | 26,842,130 | |
SpartanNash Co. | 65,200 | 923,232 | |
U.S. Foods Holding Corp. (a) | 469,151 | 18,658,135 | |
Weis Markets, Inc. | 47,626 | 1,896,944 | |
69,797,134 | |||
Food Products - 1.5% | |||
Flowers Foods, Inc. | 150,053 | 3,230,641 | |
Fresh Del Monte Produce, Inc. | 92,948 | 3,039,400 | |
Hostess Brands, Inc. Class A (a) | 567,870 | 7,637,852 | |
Ingredion, Inc. | 117,590 | 9,779,960 | |
J&J Snack Foods Corp. | 13,580 | 2,512,300 | |
John B. Sanfilippo & Son, Inc. | 7,896 | 771,755 | |
Lamb Weston Holdings, Inc. | 256,946 | 21,578,325 | |
Lancaster Colony Corp. | 17,648 | 2,788,913 | |
Nomad Foods Ltd. (a) | 1,432,984 | 30,092,664 | |
Pilgrim's Pride Corp. (a) | 199,300 | 6,277,950 | |
Post Holdings, Inc. (a) | 89,732 | 9,475,699 | |
Premium Brands Holdings Corp. | 82,572 | 5,445,537 | |
The Hain Celestial Group, Inc. (a) | 342,326 | 8,462,299 | |
The J.M. Smucker Co. | 70,800 | 7,440,372 | |
Tootsie Roll Industries, Inc. (b) | 17,263 | 592,984 | |
TreeHouse Foods, Inc. (a) | 40,100 | 1,960,489 | |
121,087,140 | |||
Household Products - 0.2% | |||
Central Garden & Pet Co. Class A (non-vtg.) (a) | 311,530 | 7,791,365 | |
Energizer Holdings, Inc. (b) | 133,004 | 6,635,570 | |
Spectrum Brands Holdings, Inc. | 38,949 | 2,435,091 | |
WD-40 Co. | 12,518 | 2,417,351 | |
19,279,377 | |||
Personal Products - 0.4% | |||
elf Beauty, Inc. (a) | 1,105,473 | 18,317,688 | |
Herbalife Nutrition Ltd. (a) | 128,149 | 5,844,876 | |
MediFast, Inc. (b) | 53,747 | 4,724,899 | |
Nu Skin Enterprises, Inc. Class A | 32,954 | 1,260,161 | |
USANA Health Sciences, Inc. (a) | 12,325 | 907,120 | |
31,054,744 | |||
Tobacco - 0.0% | |||
Universal Corp. | 56,822 | 2,967,245 | |
TOTAL CONSUMER STAPLES | 272,450,176 | ||
ENERGY - 2.2% | |||
Energy Equipment & Services - 0.4% | |||
Apergy Corp. (a) | 88,003 | 2,247,597 | |
Cactus, Inc. | 85,788 | 2,589,940 | |
Core Laboratories NV (b) | 129,022 | 5,651,164 | |
Dril-Quip, Inc. (a) | 124,843 | 5,275,865 | |
McDermott International, Inc. (a)(b) | 424,665 | 339,902 | |
Oil States International, Inc. (a) | 304,100 | 4,847,354 | |
Patterson-UTI Energy, Inc. | 1,135,121 | 10,147,982 | |
RigNet, Inc. (a) | 319,053 | 1,659,076 | |
RPC, Inc. (b) | 403,838 | 1,558,815 | |
34,317,695 | |||
Oil, Gas & Consumable Fuels - 1.8% | |||
Abraxas Petroleum Corp. (a) | 3,228,401 | 829,699 | |
Arch Coal, Inc. (b) | 21,000 | 1,556,310 | |
Brigham Minerals, Inc. Class A | 172,475 | 3,339,116 | |
Canacol Energy Ltd. (b) | 1,270,540 | 4,218,235 | |
Canadian Natural Resources Ltd. | 179,017 | 5,008,109 | |
Carrizo Oil & Gas, Inc. (a) | 239,500 | 1,535,195 | |
Cimarex Energy Co. | 266,915 | 12,270,083 | |
CONSOL Energy, Inc. (a) | 23,552 | 300,524 | |
Delek U.S. Holdings, Inc. | 126,100 | 4,326,491 | |
Devon Energy Corp. | 237,100 | 5,190,119 | |
Diamondback Energy, Inc. | 164,122 | 12,693,195 | |
Encana Corp. (b) | 483,631 | 1,905,506 | |
Enerplus Corp. (b) | 499,345 | 3,097,646 | |
Equitrans Midstream Corp. | 56,041 | 558,729 | |
Extraction Oil & Gas, Inc. (a)(b) | 219,437 | 315,989 | |
Gulfport Energy Corp. (a) | 350,800 | 831,396 | |
HollyFrontier Corp. | 223,233 | 11,507,661 | |
Jagged Peak Energy, Inc. (a)(b) | 137,696 | 918,432 | |
Kosmos Energy Ltd. | 954,329 | 5,697,344 | |
Laredo Petroleum, Inc. (a) | 135,500 | 292,680 | |
Magnolia Oil & Gas Corp. Class A (a) | 217,195 | 2,358,738 | |
Marathon Oil Corp. | 146,365 | 1,705,152 | |
Marathon Petroleum Corp. | 239,460 | 14,520,854 | |
Northern Oil & Gas, Inc. (a)(b) | 3,989,886 | 7,101,997 | |
Parsley Energy, Inc. Class A | 115,583 | 1,731,433 | |
PBF Energy, Inc. Class A | 264,005 | 8,263,357 | |
PDC Energy, Inc. (a) | 212,874 | 4,838,626 | |
QEP Resources, Inc. | 733,473 | 2,398,457 | |
SM Energy Co. | 314,214 | 2,611,118 | |
Southwestern Energy Co. (a) | 800,000 | 1,456,000 | |
SRC Energy, Inc. (a) | 707,100 | 2,524,347 | |
W&T Offshore, Inc. (a) | 660,000 | 2,824,800 | |
World Fuel Services Corp. | 326,098 | 13,826,555 | |
142,553,893 | |||
TOTAL ENERGY | 176,871,588 | ||
FINANCIALS - 13.6% | |||
Banks - 4.7% | |||
Associated Banc-Corp. | 461,939 | 9,903,972 | |
Bank of Hawaii Corp. | 35,676 | 3,214,764 | |
Bank OZK | 366,327 | 10,872,585 | |
BankUnited, Inc. | 730,256 | 25,602,775 | |
Berkshire Hills Bancorp, Inc. | 84,000 | 2,650,200 | |
Boston Private Financial Holdings, Inc. | 280,637 | 3,294,678 | |
Cadence Bancorp Class A | 558,022 | 9,212,943 | |
Cathay General Bancorp | 102,900 | 3,788,778 | |
Centerstate Banks of Florida, Inc. | 127,754 | 3,248,784 | |
Central Pacific Financial Corp. | 23,258 | 675,877 | |
CIT Group, Inc. | 136,200 | 6,199,824 | |
Citizens Financial Group, Inc. | 387,700 | 14,910,942 | |
Columbia Banking Systems, Inc. | 61,937 | 2,420,498 | |
Comerica, Inc. | 118,991 | 8,378,156 | |
Commerce Bancshares, Inc. | 227,650 | 15,259,380 | |
Cullen/Frost Bankers, Inc. | 126,355 | 11,821,774 | |
East West Bancorp, Inc. | 117,121 | 5,366,484 | |
First Citizens Bancshares, Inc. | 9,332 | 4,850,774 | |
First Financial Bankshares, Inc. | 108,984 | 3,767,577 | |
First Foundation, Inc. | 12,204 | 200,024 | |
First Hawaiian, Inc. | 698,905 | 19,946,749 | |
First Horizon National Corp. | 101,600 | 1,633,728 | |
First Merchants Corp. | 83,648 | 3,386,908 | |
First Midwest Bancorp, Inc., Delaware | 143,246 | 3,088,384 | |
FNB Corp., Pennsylvania | 293,600 | 3,646,512 | |
Fulton Financial Corp. | 239,600 | 4,111,536 | |
Hancock Whitney Corp. | 82,900 | 3,366,569 | |
Hanmi Financial Corp. | 209,159 | 4,105,791 | |
Hope Bancorp, Inc. | 395,500 | 5,738,705 | |
Huntington Bancshares, Inc. | 262,318 | 3,905,915 | |
IBERIABANK Corp. | 215,887 | 15,757,592 | |
KeyCorp | 420,100 | 8,145,739 | |
PacWest Bancorp | 89,800 | 3,344,152 | |
Peapack-Gladstone Financial Corp. | 60,629 | 1,812,807 | |
Peoples Bancorp, Inc. | 40,051 | 1,310,068 | |
Preferred Bank, Los Angeles | 49,947 | 2,754,577 | |
Regions Financial Corp. | 365,500 | 6,081,920 | |
ServisFirst Bancshares, Inc. | 39,868 | 1,449,600 | |
Signature Bank | 94,428 | 11,648,638 | |
Sterling Bancorp | 415,857 | 8,491,800 | |
SVB Financial Group (a) | 41,120 | 9,528,738 | |
Synovus Financial Corp. | 392,316 | 14,943,316 | |
Tcf Financial Corp. | 300,774 | 12,779,887 | |
Texas Capital Bancshares, Inc. (a) | 141,929 | 8,203,496 | |
Umpqua Holdings Corp. | 674,348 | 11,039,077 | |
United Community Bank, Inc. | 216,400 | 6,708,400 | |
Webster Financial Corp. | 173,067 | 8,426,632 | |
Western Alliance Bancorp. | 439,200 | 22,908,672 | |
Wintrust Financial Corp. | 159,456 | 10,828,657 | |
Zions Bancorp NA | 424,508 | 21,132,008 | |
385,867,362 | |||
Capital Markets - 2.9% | |||
Ares Capital Corp. | 118,946 | 2,227,859 | |
Ares Management Corp. | 170,127 | 5,629,502 | |
Artisan Partners Asset Management, Inc. | 45,899 | 1,361,823 | |
Cohen & Steers, Inc. | 19,457 | 1,306,148 | |
Diamond Hill Investment Group, Inc. | 2,962 | 404,461 | |
Donnelley Financial Solutions, Inc. (a) | 28,923 | 290,387 | |
E*TRADE Financial Corp. | 296,509 | 13,135,349 | |
Eaton Vance Corp. (non-vtg.) | 288,056 | 13,587,602 | |
Evercore, Inc. Class A | 89,352 | 6,914,058 | |
FactSet Research Systems, Inc. | 74,889 | 19,444,929 | |
Federated Investors, Inc. Class B (non-vtg.) | 86,308 | 2,893,044 | |
Focus Financial Partners, Inc. Class A (a) | 282,683 | 7,946,219 | |
Houlihan Lokey | 31,353 | 1,494,598 | |
Interactive Brokers Group, Inc. | 131,501 | 6,367,278 | |
Lazard Ltd. Class A | 682,613 | 26,376,166 | |
Legg Mason, Inc. | 202,200 | 7,901,976 | |
LPL Financial | 326,713 | 30,171,946 | |
MarketAxess Holdings, Inc. | 33,971 | 13,718,169 | |
Moelis & Co. Class A | 320,807 | 10,573,799 | |
Morningstar, Inc. | 97,513 | 15,319,292 | |
Newtek Business Services Corp. (b) | 142,900 | 3,339,573 | |
Oaktree Specialty Lending Corp. | 547,600 | 2,902,280 | |
Prospect Capital Corp. | 398,500 | 2,598,220 | |
Raymond James Financial, Inc. | 10,982 | 986,403 | |
SEI Investments Co. | 118,053 | 7,617,960 | |
Stifel Financial Corp. | 87,424 | 5,465,748 | |
Tradeweb Markets, Inc. Class A | 85,236 | 3,812,606 | |
Victory Capital Holdings, Inc. | 507,327 | 10,450,936 | |
Waddell & Reed Financial, Inc. Class A | 66,997 | 1,082,002 | |
WisdomTree Investments, Inc. | 1,639,197 | 7,966,497 | |
233,286,830 | |||
Consumer Finance - 0.9% | |||
Ally Financial, Inc. | 351,925 | 11,205,292 | |
Credit Acceptance Corp. (a) | 11,168 | 4,807,377 | |
First Cash Financial Services, Inc. | 184,927 | 14,949,499 | |
Navient Corp. | 865,330 | 12,417,486 | |
Nelnet, Inc. Class A | 69,914 | 4,404,582 | |
OneMain Holdings, Inc. | 148,418 | 6,395,332 | |
PRA Group, Inc. (a) | 88,839 | 3,255,061 | |
Regional Management Corp. (a) | 68,700 | 2,232,750 | |
SLM Corp. | 1,203,667 | 10,267,280 | |
69,934,659 | |||
Diversified Financial Services - 0.3% | |||
Banco Latinoamericano de Comercio Exterior SA Series E | 75,700 | 1,632,849 | |
Jefferies Financial Group, Inc. | 218,158 | 4,559,502 | |
Voya Financial, Inc. | 350,796 | 20,444,391 | |
26,636,742 | |||
Insurance - 3.2% | |||
Alleghany Corp. (a) | 7,461 | 5,819,878 | |
American Financial Group, Inc. | 85,508 | 9,381,083 | |
Assurant, Inc. | 57,298 | 7,613,185 | |
Assured Guaranty Ltd. | 256,095 | 12,715,117 | |
Athene Holding Ltd. (a) | 45,611 | 2,053,407 | |
Axis Capital Holdings Ltd. | 174,338 | 10,317,323 | |
Brown & Brown, Inc. | 83,100 | 3,136,194 | |
CNA Financial Corp. | 293,792 | 13,138,378 | |
CNO Financial Group, Inc. | 339,200 | 6,146,304 | |
Crawford & Co. Class B | 166,972 | 1,688,087 | |
eHealth, Inc. (a)(b) | 51,114 | 4,715,778 | |
Erie Indemnity Co. Class A | 17,953 | 3,039,443 | |
Everest Re Group Ltd. | 93,419 | 25,340,838 | |
First American Financial Corp. | 314,074 | 19,981,388 | |
Genworth Financial, Inc. Class A | 149,800 | 593,208 | |
Hanover Insurance Group, Inc. | 72,430 | 9,845,410 | |
Heritage Insurance Holdings, Inc. | 127,900 | 1,750,951 | |
Kemper Corp. | 93,053 | 6,878,478 | |
Kinsale Capital Group, Inc. | 148,704 | 15,057,767 | |
Lincoln National Corp. | 116,200 | 6,861,610 | |
National General Holdings Corp. | 302,612 | 6,442,609 | |
Old Republic International Corp. | 640,664 | 14,453,380 | |
Primerica, Inc. | 38,798 | 5,192,724 | |
ProAssurance Corp. | 79,971 | 3,006,910 | |
Reinsurance Group of America, Inc. | 190,454 | 31,512,519 | |
RLI Corp. | 157,082 | 14,352,582 | |
Selective Insurance Group, Inc. | 76,006 | 5,033,117 | |
Universal Insurance Holdings, Inc. | 130,526 | 3,798,307 | |
Unum Group | 241,300 | 7,417,562 | |
White Mountains Insurance Group Ltd. | 4,631 | 5,126,147 | |
262,409,684 | |||
Mortgage Real Estate Investment Trusts - 0.7% | |||
AGNC Investment Corp. | 245,940 | 4,259,681 | |
Annaly Capital Management, Inc. | 349,000 | 3,256,170 | |
Ares Commercial Real Estate Corp. | 124,057 | 1,940,251 | |
Blackstone Mortgage Trust, Inc. | 97,004 | 3,553,257 | |
Chimera Investment Corp. | 176,100 | 3,587,157 | |
MFA Financial, Inc. | 1,121,240 | 8,588,698 | |
New York Mortgage Trust, Inc. | 403,200 | 2,511,936 | |
Redwood Trust, Inc. | 465,821 | 7,536,984 | |
Starwood Property Trust, Inc. | 227,999 | 5,585,976 | |
Two Harbors Investment Corp. | 942,479 | 13,703,645 | |
54,523,755 | |||
Thrifts & Mortgage Finance - 0.9% | |||
Axos Financial, Inc. (a) | 164,843 | 4,854,626 | |
Essent Group Ltd. | 489,486 | 26,750,410 | |
Farmer Mac Class C (non-vtg.) | 25,700 | 2,134,385 | |
LendingTree, Inc. (a) | 21,490 | 7,747,790 | |
MGIC Investment Corp. | 386,100 | 5,563,701 | |
NMI Holdings, Inc. (a) | 68,426 | 2,297,061 | |
Radian Group, Inc. | 397,203 | 10,263,726 | |
Walker & Dunlop, Inc. | 154,968 | 10,172,100 | |
69,783,799 | |||
TOTAL FINANCIALS | 1,102,442,831 | ||
HEALTH CARE - 11.1% | |||
Biotechnology - 2.5% | |||
Agios Pharmaceuticals, Inc. (a) | 145,061 | 5,642,873 | |
Aimmune Therapeutics, Inc. (a) | 192,815 | 5,383,395 | |
Akebia Therapeutics, Inc. (a) | 208,838 | 1,313,591 | |
Allogene Therapeutics, Inc. (a)(b) | 64,430 | 1,815,637 | |
Anika Therapeutics, Inc. (a) | 12,829 | 741,516 | |
Arena Pharmaceuticals, Inc. (a) | 37,790 | 1,790,490 | |
Ascendis Pharma A/S sponsored ADR (a) | 22,711 | 2,615,853 | |
BeiGene Ltd. ADR (a) | 11,640 | 2,366,296 | |
Biohaven Pharmaceutical Holding Co. Ltd. (a) | 63,038 | 3,613,338 | |
BioMarin Pharmaceutical, Inc. (a) | 55,023 | 4,440,906 | |
Biospecifics Technologies Corp. (a) | 4,763 | 261,965 | |
Blueprint Medicines Corp. (a) | 81,339 | 6,673,052 | |
Castle Biosciences, Inc. (b) | 115,313 | 3,105,379 | |
DBV Technologies SA sponsored ADR (a)(b) | 410,308 | 3,200,402 | |
Deciphera Pharmaceuticals, Inc. (a) | 199,460 | 9,432,463 | |
Emergent BioSolutions, Inc. (a) | 128,600 | 7,054,996 | |
Exact Sciences Corp. (a) | 127,790 | 10,352,268 | |
Exelixis, Inc. (a) | 165,758 | 2,756,556 | |
Global Blood Therapeutics, Inc. (a) | 83,282 | 5,538,253 | |
Gossamer Bio, Inc. | 68,199 | 1,739,075 | |
Heron Therapeutics, Inc. (a) | 376,917 | 9,633,999 | |
Immunomedics, Inc. (a) | 781,172 | 14,670,410 | |
Incyte Corp. (a) | 49,170 | 4,629,847 | |
Insmed, Inc. (a) | 73,736 | 1,699,615 | |
Invitae Corp. (a)(b) | 207,727 | 4,133,767 | |
Kodiak Sciences, Inc. (a) | 69,343 | 2,052,553 | |
Ligand Pharmaceuticals, Inc. Class B (a)(b) | 149,660 | 16,911,580 | |
Madrigal Pharmaceuticals, Inc. (a)(b) | 12,310 | 1,362,594 | |
Myriad Genetics, Inc. (a) | 72,368 | 1,862,752 | |
Neurocrine Biosciences, Inc. (a) | 317,354 | 37,006,650 | |
NextCure, Inc. | 41,600 | 1,988,896 | |
Precision BioSciences, Inc. (a)(b) | 126,455 | 2,247,105 | |
Puma Biotechnology, Inc. (a)(b) | 81,232 | 770,892 | |
Sage Therapeutics, Inc. (a) | 21,258 | 3,290,101 | |
Sarepta Therapeutics, Inc. (a) | 52,020 | 5,851,730 | |
Seattle Genetics, Inc. (a) | 28,587 | 3,440,445 | |
Spectrum Pharmaceuticals, Inc. (a) | 706,397 | 6,343,445 | |
Ultragenyx Pharmaceutical, Inc. (a) | 54,828 | 2,173,930 | |
Viking Therapeutics, Inc. (a)(b) | 787,243 | 5,762,619 | |
205,671,234 | |||
Health Care Equipment & Supplies - 3.0% | |||
Abiomed, Inc. (a) | 48,065 | 9,429,392 | |
Atrion Corp. | 1,292 | 910,472 | |
AxoGen, Inc. (a) | 932,422 | 16,158,873 | |
Cantel Medical Corp. | 32,832 | 2,524,781 | |
Dentsply Sirona, Inc. | 51,500 | 2,911,810 | |
DexCom, Inc. (a) | 47,880 | 10,883,603 | |
Endologix, Inc. (a)(b) | 452,524 | 1,176,562 | |
Envista Holdings Corp. (a)(b) | 57,689 | 1,622,215 | |
Glaukos Corp. (a) | 39,300 | 2,520,309 | |
Hologic, Inc. (a) | 42,000 | 2,155,440 | |
ICU Medical, Inc. (a) | 44,060 | 8,260,369 | |
IDEXX Laboratories, Inc. (a) | 73,837 | 18,575,912 | |
Insulet Corp. (a) | 43,840 | 8,141,088 | |
Integra LifeSciences Holdings Corp. (a) | 144,234 | 8,796,832 | |
LeMaitre Vascular, Inc. | 10,728 | 381,595 | |
Masimo Corp. (a) | 81,853 | 12,692,945 | |
Meridian Bioscience, Inc. | 36,639 | 335,247 | |
Merit Medical Systems, Inc. (a) | 705,790 | 19,762,120 | |
Neogen Corp. (a) | 47,009 | 3,129,389 | |
Nevro Corp. (a) | 55,182 | 6,168,244 | |
Penumbra, Inc. (a) | 38,623 | 6,833,181 | |
Quidel Corp. (a) | 120,286 | 8,254,025 | |
SmileDirectClub, Inc. (a)(b) | 291,250 | 2,903,763 | |
STERIS PLC | 151,722 | 22,931,263 | |
Teleflex, Inc. | 32,415 | 11,453,516 | |
The Cooper Companies, Inc. | 45,711 | 14,311,657 | |
ViewRay, Inc. (a) | 295,000 | 979,400 | |
West Pharmaceutical Services, Inc. | 254,175 | 37,371,350 | |
Wright Medical Group NV (a) | 51,100 | 1,521,247 | |
243,096,600 | |||
Health Care Providers & Services - 2.8% | |||
Amedisys, Inc. (a) | 43,790 | 7,136,018 | |
American Renal Associates Holdings, Inc. (a) | 15,450 | 146,157 | |
BioTelemetry, Inc. (a) | 331,841 | 15,367,557 | |
Centene Corp. (a) | 346,372 | 20,945,115 | |
Chemed Corp. | 23,895 | 10,275,328 | |
Corvel Corp. (a) | 7,989 | 659,172 | |
Encompass Health Corp. | 265,068 | 18,742,958 | |
Guardant Health, Inc. (a) | 69,593 | 5,405,288 | |
HealthEquity, Inc. (a) | 133,013 | 8,365,188 | |
Henry Schein, Inc. (a) | 129,169 | 8,899,744 | |
LHC Group, Inc. (a) | 53,620 | 7,152,908 | |
MEDNAX, Inc. (a) | 814,277 | 21,268,915 | |
Molina Healthcare, Inc. (a) | 236,878 | 32,096,969 | |
Owens & Minor, Inc. | 266,300 | 1,762,906 | |
Patterson Companies, Inc. | 86,549 | 1,684,244 | |
PetIQ, Inc. Class A (a)(b) | 60,538 | 1,392,374 | |
Premier, Inc. (a) | 460,830 | 16,377,898 | |
Quest Diagnostics, Inc. | 80,100 | 8,534,655 | |
RadNet, Inc. (a) | 86,300 | 1,653,508 | |
Select Medical Holdings Corp. (a) | 318,986 | 7,052,780 | |
U.S. Physical Therapy, Inc. | 10,825 | 1,265,010 | |
Universal Health Services, Inc. Class B | 59,264 | 8,266,735 | |
Wellcare Health Plans, Inc. (a) | 59,685 | 19,222,748 | |
223,674,175 | |||
Health Care Technology - 0.3% | |||
Change Healthcare, Inc. (b) | 223,143 | 2,985,653 | |
Teladoc Health, Inc. (a)(b) | 132,880 | 11,127,371 | |
Veeva Systems, Inc. Class A (a) | 49,300 | 7,354,574 | |
Vocera Communications, Inc. (a) | 90,843 | 1,971,293 | |
23,438,891 | |||
Life Sciences Tools & Services - 1.1% | |||
10X Genomics, Inc. (a) | 29,516 | 1,915,293 | |
Avantor, Inc. | 252,073 | 4,318,010 | |
Bio-Rad Laboratories, Inc. Class A (a) | 49,651 | 18,340,086 | |
Bruker Corp. | 118,539 | 6,068,011 | |
ICON PLC (a) | 129,584 | 21,142,925 | |
Medpace Holdings, Inc. (a) | 23,459 | 1,798,602 | |
PerkinElmer, Inc. | 63,035 | 5,855,952 | |
Quanterix Corp. (a) | 114,925 | 2,911,050 | |
Syneos Health, Inc. (a) | 548,492 | 30,117,696 | |
92,467,625 | |||
Pharmaceuticals - 1.4% | |||
Aerie Pharmaceuticals, Inc. (a)(b) | 165,553 | 3,143,851 | |
Catalent, Inc. (a) | 409,816 | 21,306,334 | |
Collegium Pharmaceutical, Inc. (a) | 105,291 | 2,287,973 | |
GW Pharmaceuticals PLC ADR (a)(b) | 96,218 | 9,824,820 | |
Horizon Pharma PLC (a) | 350,360 | 11,484,801 | |
Innoviva, Inc. (a) | 216,035 | 2,912,152 | |
Jazz Pharmaceuticals PLC (a) | 108,440 | 16,387,453 | |
Lannett Co., Inc. (a) | 177,600 | 1,566,432 | |
Mallinckrodt PLC (a) | 152,186 | 573,741 | |
Nektar Therapeutics (a)(b) | 121,546 | 2,466,168 | |
OptiNose, Inc. (a)(b) | 134,440 | 1,255,670 | |
Pacira Biosciences, Inc. (a) | 83,005 | 3,836,491 | |
Prestige Brands Holdings, Inc. (a) | 430,163 | 16,247,257 | |
Reata Pharmaceuticals, Inc. (a) | 19,701 | 3,844,256 | |
Revance Therapeutics, Inc. (a) | 737,283 | 13,197,366 | |
Supernus Pharmaceuticals, Inc. (a) | 158,448 | 3,704,514 | |
Zynerba Pharmaceuticals, Inc. (a)(b) | 339,421 | 2,148,535 | |
116,187,814 | |||
TOTAL HEALTH CARE | 904,536,339 | ||
INDUSTRIALS - 17.4% | |||
Aerospace & Defense - 1.5% | |||
AAR Corp. | 175,729 | 7,853,329 | |
Arconic, Inc. | 82,445 | 2,552,497 | |
Axon Enterprise, Inc. (a) | 102,149 | 7,538,596 | |
Curtiss-Wright Corp. | 22,195 | 3,047,595 | |
HEICO Corp. | 37,160 | 4,826,712 | |
HEICO Corp. Class A | 186,251 | 18,707,050 | |
Hexcel Corp. | 175,510 | 13,975,861 | |
Huntington Ingalls Industries, Inc. | 64,282 | 16,177,851 | |
Mercury Systems, Inc. (a) | 110,570 | 8,099,253 | |
National Presto Industries, Inc. (b) | 4,316 | 384,038 | |
Spirit AeroSystems Holdings, Inc. Class A | 163,000 | 14,179,370 | |
Teledyne Technologies, Inc. (a) | 52,202 | 17,852,562 | |
Textron, Inc. | 117,776 | 5,445,962 | |
120,640,676 | |||
Air Freight & Logistics - 0.6% | |||
Atlas Air Worldwide Holdings, Inc. (a) | 75,884 | 1,979,814 | |
C.H. Robinson Worldwide, Inc. | 106,806 | 8,208,041 | |
Echo Global Logistics, Inc. (a) | 91,418 | 1,831,103 | |
Expeditors International of Washington, Inc. | 50,857 | 3,802,069 | |
Forward Air Corp. | 225,114 | 15,764,733 | |
Hub Group, Inc. Class A (a) | 105,960 | 5,411,377 | |
XPO Logistics, Inc. (a) | 181,449 | 15,004,018 | |
52,001,155 | |||
Airlines - 0.9% | |||
Air Canada (a) | 106,213 | 3,989,284 | |
Alaska Air Group, Inc. | 306,317 | 21,138,936 | |
Azul SA sponsored ADR (a) | 233,060 | 8,679,154 | |
Hawaiian Holdings, Inc. | 243,252 | 7,368,103 | |
JetBlue Airways Corp. (a) | 520,555 | 10,031,095 | |
SkyWest, Inc. | 250,035 | 15,662,192 | |
Spirit Airlines, Inc. (a) | 63,829 | 2,493,799 | |
69,362,563 | |||
Building Products - 1.4% | |||
A.O. Smith Corp. | 130,030 | 6,293,452 | |
AAON, Inc. | 36,673 | 1,810,546 | |
Allegion PLC | 41,712 | 5,006,691 | |
Apogee Enterprises, Inc. | 76,492 | 2,925,054 | |
Armstrong World Industries, Inc. | 192,688 | 18,501,902 | |
Continental Building Products, Inc. (a) | 33,357 | 1,227,204 | |
CSW Industrials, Inc. | 13,255 | 978,617 | |
Fortune Brands Home & Security, Inc. | 275,525 | 17,429,712 | |
Lennox International, Inc. | 23,312 | 5,964,375 | |
Masonite International Corp. (a) | 238,676 | 17,136,937 | |
Owens Corning | 149,877 | 10,050,752 | |
Patrick Industries, Inc. | 216,407 | 10,716,475 | |
Simpson Manufacturing Co. Ltd. | 37,399 | 3,036,799 | |
Trex Co., Inc. (a) | 126,783 | 10,910,945 | |
111,989,461 | |||
Commercial Services & Supplies - 3.3% | |||
ABM Industries, Inc. | 762,600 | 28,971,174 | |
ACCO Brands Corp. | 488,912 | 4,473,545 | |
Brady Corp. Class A | 316,201 | 18,023,457 | |
Casella Waste Systems, Inc. Class A (a) | 138,111 | 6,451,165 | |
Cimpress NV (a)(b) | 184,626 | 23,657,976 | |
Clean Harbors, Inc. (a) | 413,377 | 34,165,609 | |
Copart, Inc. (a) | 65,101 | 5,793,989 | |
Deluxe Corp. | 115,394 | 5,894,326 | |
Healthcare Services Group, Inc. (b) | 402,311 | 10,118,122 | |
Herman Miller, Inc. | 235,953 | 11,273,834 | |
IAA Spinco, Inc. (a) | 633,384 | 28,711,297 | |
KAR Auction Services, Inc. (b) | 658,014 | 13,897,256 | |
MSA Safety, Inc. | 144,450 | 17,901,689 | |
Pitney Bowes, Inc. (b) | 367,000 | 1,728,570 | |
Ritchie Bros. Auctioneers, Inc. | 388,714 | 16,710,815 | |
Steelcase, Inc. Class A | 279,500 | 5,064,540 | |
Tetra Tech, Inc. | 43,664 | 3,855,095 | |
The Brink's Co. | 66,754 | 6,208,122 | |
UniFirst Corp. | 13,952 | 2,877,600 | |
Waste Connection, Inc. (United States) | 290,434 | 26,298,799 | |
272,076,980 | |||
Construction & Engineering - 0.6% | |||
AECOM (a) | 123,724 | 5,360,961 | |
Aegion Corp. (a) | 236,508 | 5,122,763 | |
Construction Partners, Inc. Class A (a) | 130,144 | 2,576,851 | |
Granite Construction, Inc. | 45,639 | 1,175,661 | |
Jacobs Engineering Group, Inc. | 55,810 | 5,139,543 | |
Quanta Services, Inc. | 214,327 | 8,924,576 | |
Tutor Perini Corp. (a) | 455,284 | 7,252,674 | |
Williams Scotsman Corp. (a) | 804,535 | 14,288,542 | |
49,841,571 | |||
Electrical Equipment - 1.1% | |||
Acuity Brands, Inc. | 68,528 | 8,962,092 | |
AMETEK, Inc. | 63,102 | 6,247,729 | |
EnerSys | 218,088 | 15,303,235 | |
Generac Holdings, Inc. (a) | 184,304 | 18,153,944 | |
nVent Electric PLC | 146,067 | 3,609,316 | |
Regal Beloit Corp. | 146,070 | 11,938,301 | |
Sensata Technologies, Inc. PLC (a) | 470,001 | 24,200,351 | |
Vicor Corp. (a) | 62,794 | 2,578,950 | |
90,993,918 | |||
Industrial Conglomerates - 0.2% | |||
Carlisle Companies, Inc. | 90,843 | 14,169,691 | |
Raven Industries, Inc. | 30,765 | 1,057,393 | |
15,227,084 | |||
Machinery - 4.2% | |||
Alamo Group, Inc. | 41,440 | 4,757,312 | |
Allison Transmission Holdings, Inc. | 299,391 | 14,490,524 | |
Donaldson Co., Inc. | 115,574 | 6,481,390 | |
Douglas Dynamics, Inc. | 192,107 | 10,394,910 | |
Flowserve Corp. | 84,500 | 4,115,150 | |
Gardner Denver Holdings, Inc. (a) | 210,332 | 7,123,945 | |
Gates Industrial Corp. PLC (a) | 702,926 | 8,357,790 | |
Gorman-Rupp Co. | 17,237 | 637,941 | |
Graco, Inc. | 150,405 | 7,266,066 | |
Hillenbrand, Inc. | 56,282 | 1,779,637 | |
IDEX Corp. | 106,901 | 17,397,069 | |
ITT, Inc. | 50,226 | 3,504,770 | |
John Bean Technologies Corp. | 185,240 | 20,293,042 | |
Kennametal, Inc. | 332,531 | 11,582,055 | |
Lincoln Electric Holdings, Inc. | 253,899 | 23,424,722 | |
Meritor, Inc. (a) | 219,680 | 5,546,920 | |
Middleby Corp. (a) | 133,705 | 15,477,691 | |
Nordson Corp. | 90,909 | 15,075,439 | |
Oshkosh Corp. | 87,500 | 7,915,250 | |
Proto Labs, Inc. (a) | 69,373 | 6,721,550 | |
RBC Bearings, Inc. (a) | 100,498 | 16,670,608 | |
Rexnord Corp. (a) | 94,636 | 2,989,551 | |
Snap-On, Inc. | 97,121 | 15,584,036 | |
Tennant Co. | 211,094 | 15,718,059 | |
Terex Corp. | 182,952 | 5,135,463 | |
Timken Co. | 183,706 | 9,661,099 | |
Toro Co. | 411,044 | 32,135,420 | |
Trinity Industries, Inc. | 168,100 | 3,536,824 | |
WABCO Holdings, Inc. (a) | 47,140 | 6,352,115 | |
Welbilt, Inc. (a) | 414,210 | 6,913,165 | |
Westinghouse Air Brake Co. | 73,158 | 5,748,024 | |
Woodward, Inc. | 230,567 | 26,927,920 | |
339,715,457 | |||
Marine - 0.3% | |||
Kirby Corp. (a) | 145,048 | 12,237,700 | |
Matson, Inc. | 410,237 | 15,482,344 | |
27,720,044 | |||
Professional Services - 1.1% | |||
ASGN, Inc. (a) | 96,933 | 6,495,480 | |
Barrett Business Services, Inc. | 6,675 | 589,803 | |
CoStar Group, Inc. (a) | 18,698 | 11,459,256 | |
Exponent, Inc. | 47,016 | 2,987,867 | |
FTI Consulting, Inc. (a) | 119,981 | 13,076,729 | |
Huron Consulting Group, Inc. (a) | 40,204 | 2,695,678 | |
InnerWorkings, Inc. (a) | 1,004,430 | 4,730,865 | |
Insperity, Inc. | 34,407 | 2,675,832 | |
Kforce, Inc. | 21,171 | 836,678 | |
Manpower, Inc. | 147,968 | 13,707,756 | |
Robert Half International, Inc. | 109,761 | 6,388,090 | |
TriNet Group, Inc. (a) | 395,935 | 21,677,441 | |
87,321,475 | |||
Road & Rail - 0.9% | |||
Heartland Express, Inc. | 581,563 | 12,451,264 | |
Kansas City Southern | 1,420 | 216,436 | |
Knight-Swift Transportation Holdings, Inc. Class A (b) | 594,003 | 21,972,171 | |
Landstar System, Inc. | 158,979 | 17,711,850 | |
Lyft, Inc. | 155,766 | 7,629,419 | |
Old Dominion Freight Lines, Inc. | 23,200 | 4,444,888 | |
Ryder System, Inc. | 66,500 | 3,490,585 | |
Schneider National, Inc. Class B | 88,200 | 2,006,550 | |
TransForce, Inc. | 186,432 | 6,144,691 | |
76,067,854 | |||
Trading Companies & Distributors - 1.3% | |||
Air Lease Corp. Class A | 248,491 | 11,537,437 | |
Applied Industrial Technologies, Inc. | 190,658 | 12,173,513 | |
BMC Stock Holdings, Inc. (a) | 82,094 | 2,430,803 | |
EVI Industries, Inc. | 68,267 | 2,086,922 | |
HD Supply Holdings, Inc. (a) | 104,774 | 4,172,101 | |
MRC Global, Inc. (a) | 555,348 | 7,408,342 | |
MSC Industrial Direct Co., Inc. Class A | 168,668 | 12,381,918 | |
SiteOne Landscape Supply, Inc. (a) | 149,524 | 13,271,750 | |
Transcat, Inc. (a) | 161,130 | 5,283,453 | |
Triton International Ltd. | 186,565 | 7,067,082 | |
United Rentals, Inc. (a) | 82,780 | 12,669,479 | |
Watsco, Inc. | 21,373 | 3,803,753 | |
WESCO International, Inc. (a) | 159,153 | 8,374,631 | |
102,661,184 | |||
TOTAL INDUSTRIALS | 1,415,619,422 | ||
INFORMATION TECHNOLOGY - 18.4% | |||
Communications Equipment - 0.6% | |||
CalAmp Corp. (a) | 95,258 | 999,256 | |
Ciena Corp. (a) | 454,127 | 17,238,661 | |
CommScope Holding Co., Inc. (a) | 183,813 | 2,499,857 | |
F5 Networks, Inc. (a) | 26,700 | 3,890,457 | |
Juniper Networks, Inc. | 304,600 | 7,633,276 | |
KVH Industries, Inc. (a) | 286,286 | 3,277,975 | |
NetScout Systems, Inc. (a) | 270,835 | 6,825,042 | |
Ubiquiti, Inc. (b) | 16,341 | 3,222,445 | |
Viavi Solutions, Inc. (a) | 245,970 | 3,694,469 | |
49,281,438 | |||
Electronic Equipment & Components - 2.8% | |||
Arrow Electronics, Inc. (a) | 155,954 | 12,420,177 | |
Avnet, Inc. | 259,236 | 10,537,943 | |
Badger Meter, Inc. | 26,287 | 1,629,794 | |
Belden, Inc. | 642,680 | 34,537,623 | |
CDW Corp. | 36,530 | 4,933,377 | |
Cognex Corp. | 380,481 | 19,092,537 | |
Coherent, Inc. (a) | 22,974 | 3,465,858 | |
Dolby Laboratories, Inc. Class A | 57,836 | 3,983,744 | |
Fabrinet (a) | 35,520 | 2,148,605 | |
Flextronics International Ltd. (a) | 252,104 | 2,992,474 | |
FLIR Systems, Inc. | 118,165 | 6,328,917 | |
Insight Enterprises, Inc. (a) | 101,202 | 6,637,839 | |
IPG Photonics Corp. (a) | 58,882 | 8,366,543 | |
Jabil, Inc. | 280,281 | 10,886,114 | |
Littelfuse, Inc. | 53,920 | 9,781,627 | |
National Instruments Corp. | 101,720 | 4,284,446 | |
Novanta, Inc. (a) | 66,640 | 6,209,515 | |
Par Technology Corp. (a) | 117,216 | 3,527,029 | |
Powerfleet, Inc. (a) | 367,079 | 2,213,486 | |
Rogers Corp. (a) | 51,970 | 6,757,139 | |
Sanmina Corp. (a) | 129,900 | 4,132,119 | |
ScanSource, Inc. (a) | 71,700 | 2,539,614 | |
SYNNEX Corp. | 122,504 | 15,044,716 | |
Tech Data Corp. (a) | 49,700 | 7,201,033 | |
Trimble, Inc. (a) | 438,669 | 17,779,255 | |
TTM Technologies, Inc. (a) | 763,574 | 10,239,527 | |
Vishay Intertechnology, Inc. | 282,140 | 5,611,765 | |
223,282,816 | |||
IT Services - 3.8% | |||
Alliance Data Systems Corp. | 30,218 | 3,230,606 | |
Amdocs Ltd. | 464,360 | 32,180,148 | |
Black Knight, Inc. (a) | 172,001 | 10,837,783 | |
Booz Allen Hamilton Holding Corp. Class A | 170,010 | 12,369,928 | |
Carbonite, Inc. (a) | 557,459 | 12,821,557 | |
Cass Information Systems, Inc. | 10,936 | 617,556 | |
CoreLogic, Inc. (a) | 218,805 | 9,065,091 | |
EPAM Systems, Inc. (a) | 36,612 | 7,756,252 | |
Equiniti Group PLC (c) | 3,227,611 | 8,118,954 | |
Euronet Worldwide, Inc. (a) | 278,483 | 43,774,743 | |
EVERTEC, Inc. | 130,754 | 4,239,045 | |
Gartner, Inc. (a) | 74,432 | 11,943,359 | |
Genpact Ltd. | 159,290 | 6,483,103 | |
GoDaddy, Inc. (a) | 266,988 | 17,722,663 | |
Hackett Group, Inc. | 24,122 | 369,790 | |
i3 Verticals, Inc. Class A (a) | 127,639 | 3,487,097 | |
International Money Express, Inc. (a) | 347,707 | 4,725,338 | |
InterXion Holding NV (a) | 119,830 | 10,190,343 | |
Jack Henry & Associates, Inc. | 55,527 | 8,436,772 | |
Leidos Holdings, Inc. | 28,900 | 2,625,276 | |
Maximus, Inc. | 165,081 | 12,323,297 | |
NIC, Inc. | 60,167 | 1,365,189 | |
Presidio, Inc. | 803,068 | 13,258,653 | |
Science Applications International Corp. | 26,150 | 2,231,903 | |
Switch, Inc. Class A | 901,220 | 14,203,227 | |
Sykes Enterprises, Inc. (a) | 68,251 | 2,398,340 | |
The Western Union Co. | 50,953 | 1,369,617 | |
Ttec Holdings, Inc. | 104,974 | 4,821,456 | |
Twilio, Inc. Class A (a)(b) | 22,229 | 2,295,811 | |
Unisys Corp. (a) | 287,620 | 3,273,116 | |
Virtusa Corp. (a) | 87,241 | 3,898,800 | |
WEX, Inc. (a) | 68,420 | 13,761,315 | |
Wix.com Ltd. (a) | 87,304 | 10,554,181 | |
WNS Holdings Ltd. sponsored ADR (a) | 105,483 | 6,658,087 | |
303,408,396 | |||
Semiconductors & Semiconductor Equipment - 2.4% | |||
Advanced Micro Devices, Inc. (a) | 59,445 | 2,327,272 | |
Brooks Automation, Inc. | 36,783 | 1,646,775 | |
Cabot Microelectronics Corp. | 100,279 | 13,378,221 | |
Cirrus Logic, Inc. (a) | 91,600 | 6,567,720 | |
Cree, Inc. (a) | 47,622 | 2,105,369 | |
Cypress Semiconductor Corp. | 518,566 | 12,160,373 | |
Diodes, Inc. (a) | 156,600 | 7,225,524 | |
Entegris, Inc. | 174,320 | 8,248,822 | |
Inphi Corp. (a) | 74,990 | 5,221,554 | |
KLA-Tencor Corp. | 5,800 | 950,388 | |
Kulicke & Soffa Industries, Inc. | 327,565 | 8,218,606 | |
Lattice Semiconductor Corp. (a) | 309,659 | 5,849,459 | |
Maxim Integrated Products, Inc. | 181,410 | 10,280,505 | |
MaxLinear, Inc. Class A (a) | 301,394 | 5,988,699 | |
MKS Instruments, Inc. | 58,510 | 6,218,443 | |
Monolithic Power Systems, Inc. | 75,907 | 12,196,737 | |
NVE Corp. | 4,342 | 276,108 | |
ON Semiconductor Corp. (a) | 2,042,773 | 43,858,336 | |
Power Integrations, Inc. | 25,073 | 2,293,929 | |
Qorvo, Inc. (a) | 63,357 | 6,602,433 | |
Semtech Corp. (a) | 205,902 | 9,978,011 | |
Silicon Laboratories, Inc. (a) | 88,373 | 9,361,352 | |
Skyworks Solutions, Inc. | 22,400 | 2,201,920 | |
Teradyne, Inc. | 165,441 | 10,354,952 | |
Universal Display Corp. | 20,825 | 4,044,632 | |
197,556,140 | |||
Software - 8.4% | |||
2U, Inc. (a)(b) | 710,890 | 17,729,597 | |
8x8, Inc. (a) | 95,290 | 1,955,351 | |
ACI Worldwide, Inc. (a) | 523,831 | 19,643,663 | |
American Software, Inc. Class A | 24,821 | 392,420 | |
Anaplan, Inc. (a) | 114,016 | 6,147,743 | |
ANSYS, Inc. (a) | 22,170 | 5,646,477 | |
Aspen Technology, Inc. (a) | 174,260 | 21,852,204 | |
Avalara, Inc. (a) | 71,050 | 5,544,032 | |
Blackbaud, Inc. | 30,000 | 2,486,400 | |
BlackLine, Inc. (a) | 34,700 | 1,867,554 | |
Box, Inc. Class A (a) | 112,300 | 2,048,352 | |
CDK Global, Inc. | 316,480 | 16,947,504 | |
Cerence, Inc. (a) | 149,984 | 2,333,751 | |
ChannelAdvisor Corp. (a) | 329,440 | 3,126,386 | |
Cision Ltd. (a) | 42,464 | 422,092 | |
Citrix Systems, Inc. | 24,100 | 2,718,721 | |
CommVault Systems, Inc. (a) | 176,272 | 8,922,889 | |
Cornerstone OnDemand, Inc. (a) | 274,002 | 16,897,703 | |
Coupa Software, Inc. (a) | 54,900 | 8,426,601 | |
DocuSign, Inc. (a) | 115,430 | 8,219,770 | |
Dynatrace, Inc. (b) | 206,563 | 5,488,379 | |
Ebix, Inc. (b) | 39,842 | 1,385,705 | |
Elastic NV (a) | 72,130 | 5,727,843 | |
Enghouse Systems Ltd. | 263,580 | 8,231,046 | |
Everbridge, Inc. (a) | 41,159 | 3,619,522 | |
Fair Isaac Corp. (a) | 52,634 | 19,356,154 | |
FireEye, Inc. (a) | 645,026 | 10,810,636 | |
Guidewire Software, Inc. (a) | 113,188 | 13,789,694 | |
HubSpot, Inc. (a) | 62,420 | 9,425,420 | |
Instructure, Inc. (a) | 77,585 | 4,130,625 | |
j2 Global, Inc. | 622,577 | 60,402,421 | |
LivePerson, Inc. (a) | 507,127 | 20,127,871 | |
LogMeIn, Inc. | 533,491 | 41,601,628 | |
Manhattan Associates, Inc. (a) | 138,406 | 11,558,285 | |
Mimecast Ltd. (a) | 160,253 | 7,107,221 | |
Model N, Inc. (a) | 244,742 | 7,445,052 | |
New Relic, Inc. (a) | 123,255 | 8,383,805 | |
Nortonlifelock, Inc. | 51,100 | 1,272,390 | |
Nuance Communications, Inc. (a) | 1,257,445 | 22,545,989 | |
Palo Alto Networks, Inc. (a) | 24,843 | 5,644,826 | |
Parametric Technology Corp. (a) | 42,300 | 3,240,180 | |
Paycom Software, Inc. (a) | 79,466 | 21,996,983 | |
Paylocity Holding Corp. (a) | 28,634 | 3,502,511 | |
Pivotal Software, Inc. (a) | 182,200 | 2,736,644 | |
Proofpoint, Inc. (a) | 116,505 | 13,827,978 | |
Q2 Holdings, Inc. (a) | 164,532 | 13,891,437 | |
QAD, Inc. Class A | 18,589 | 950,084 | |
Qualys, Inc. (a) | 33,838 | 2,961,163 | |
Rapid7, Inc. (a) | 85,706 | 4,805,535 | |
RealPage, Inc. (a) | 255,564 | 14,063,687 | |
RingCentral, Inc. (a) | 95,920 | 16,543,322 | |
Slack Technologies, Inc. Class A (a)(b) | 99,100 | 2,261,462 | |
Smartsheet, Inc. (a) | 114,004 | 5,407,210 | |
SolarWinds, Inc. (a)(b) | 1,051,468 | 20,335,391 | |
Splunk, Inc. (a) | 113,758 | 16,974,969 | |
SS&C Technologies Holdings, Inc. | 771,475 | 46,327,074 | |
The Trade Desk, Inc. (a) | 62,103 | 16,354,204 | |
Tyler Technologies, Inc. (a) | 54,860 | 15,918,726 | |
Upland Software, Inc. (a) | 436,969 | 16,915,070 | |
Verint Systems, Inc. (a) | 156,509 | 7,607,902 | |
Yext, Inc. (a) | 224,304 | 3,871,487 | |
Zix Corp. (a) | 1,122,453 | 8,463,296 | |
Zoom Video Communications, Inc. Class A (b) | 28,994 | 2,160,053 | |
Zuora, Inc. (a) | 151,243 | 2,410,813 | |
684,910,903 | |||
Technology Hardware, Storage & Peripherals - 0.4% | |||
NCR Corp. (a) | 543,265 | 17,835,390 | |
Seagate Technology LLC | 127,000 | 7,579,360 | |
Western Digital Corp. | 39,700 | 1,998,101 | |
Xerox Holdings Corp. | 164,200 | 6,392,306 | |
33,805,157 | |||
TOTAL INFORMATION TECHNOLOGY | 1,492,244,850 | ||
MATERIALS - 3.7% | |||
Chemicals - 1.6% | |||
Axalta Coating Systems Ltd. (a) | 380,176 | 10,823,611 | |
Cabot Corp. | 76,213 | 3,581,249 | |
Celanese Corp. Class A | 57,600 | 7,232,832 | |
CF Industries Holdings, Inc. | 58,200 | 2,689,422 | |
Chase Corp. | 6,538 | 769,196 | |
Eastman Chemical Co. | 114,700 | 8,989,039 | |
FMC Corp. | 82,702 | 8,101,488 | |
Huntsman Corp. | 495,140 | 11,200,067 | |
Ingevity Corp. (a) | 102,312 | 9,239,797 | |
Innospec, Inc. | 45,342 | 4,461,653 | |
International Flavors & Fragrances, Inc. (b) | 29,154 | 4,117,419 | |
Minerals Technologies, Inc. | 83,772 | 4,523,688 | |
NewMarket Corp. | 8,038 | 3,970,531 | |
Olin Corp. | 49,639 | 869,675 | |
Orion Engineered Carbons SA | 320,676 | 5,829,890 | |
PQ Group Holdings, Inc. (a) | 258,343 | 4,097,320 | |
Quaker Chemical Corp. | 70,877 | 10,576,975 | |
Sensient Technologies Corp. | 38,236 | 2,419,956 | |
The Chemours Co. LLC | 183,400 | 2,895,886 | |
The Mosaic Co. | 112,631 | 2,145,621 | |
Trinseo SA | 340,012 | 12,917,056 | |
Valvoline, Inc. | 269,158 | 6,096,429 | |
Venator Materials PLC (a) | 242,645 | 895,360 | |
Westlake Chemical Corp. | 86,648 | 5,950,985 | |
134,395,145 | |||
Construction Materials - 0.1% | |||
Eagle Materials, Inc. | 40,802 | 3,755,008 | |
Summit Materials, Inc. (a) | 92,900 | 2,217,523 | |
5,972,531 | |||
Containers & Packaging - 1.4% | |||
Amcor PLC | 128,690 | 1,320,359 | |
Aptargroup, Inc. | 243,392 | 27,289,111 | |
Avery Dennison Corp. | 17,442 | 2,273,914 | |
Crown Holdings, Inc. (a) | 212,975 | 16,164,803 | |
Graphic Packaging Holding Co. | 1,989,599 | 32,370,776 | |
Greif, Inc. Class A | 44,000 | 1,898,600 | |
Owens-Illinois, Inc. | 386,662 | 3,820,221 | |
Packaging Corp. of America | 85,700 | 9,589,830 | |
Sealed Air Corp. | 296,335 | 11,180,720 | |
WestRock Co. | 155,117 | 6,255,869 | |
112,164,203 | |||
Metals & Mining - 0.5% | |||
Alcoa Corp. (a) | 226,924 | 4,617,903 | |
Carpenter Technology Corp. | 131,477 | 6,911,746 | |
Cleveland-Cliffs, Inc. (b) | 474,100 | 3,788,059 | |
Ferroglobe Representation & Warranty Insurance (a)(d) | 495,885 | 5 | |
Kaiser Aluminum Corp. | 25,694 | 2,815,549 | |
Reliance Steel & Aluminum Co. | 122,646 | 14,469,775 | |
Royal Gold, Inc. | 26,400 | 3,095,928 | |
Steel Dynamics, Inc. | 80,000 | 2,698,400 | |
SunCoke Energy, Inc. | 589,272 | 3,017,073 | |
Worthington Industries, Inc. | 36,348 | 1,392,128 | |
42,806,566 | |||
Paper & Forest Products - 0.1% | |||
Domtar Corp. | 79,600 | 2,970,672 | |
Schweitzer-Mauduit International, Inc. | 133,198 | 5,842,064 | |
8,812,736 | |||
TOTAL MATERIALS | 304,151,181 | ||
REAL ESTATE - 4.6% | |||
Equity Real Estate Investment Trusts (REITs) - 4.3% | |||
American Campus Communities, Inc. | 195,836 | 9,407,961 | |
Americold Realty Trust | 216,248 | 8,135,250 | |
Apartment Investment & Management Co. Class A | 187,270 | 10,069,508 | |
Brandywine Realty Trust (SBI) | 196,200 | 3,027,366 | |
Brixmor Property Group, Inc. | 313,300 | 6,873,802 | |
Camden Property Trust (SBI) | 90,751 | 10,123,274 | |
CBL & Associates Properties, Inc. | 226,300 | 325,872 | |
Chatham Lodging Trust | 89,712 | 1,641,730 | |
Colony Capital, Inc. | 305,953 | 1,493,051 | |
CorEnergy Infrastructure Trust, Inc. | 84,100 | 3,720,584 | |
CoreSite Realty Corp. | 26,600 | 3,016,174 | |
Corrections Corp. of America | 159,700 | 2,419,455 | |
Cousins Properties, Inc. | 264,790 | 10,721,347 | |
CubeSmart | 410,623 | 12,663,613 | |
DiamondRock Hospitality Co. | 461,700 | 4,755,510 | |
Easterly Government Properties, Inc. | 277,259 | 6,449,044 | |
EastGroup Properties, Inc. | 125,981 | 17,157,352 | |
Empire State Realty Trust, Inc. | 527,754 | 7,367,446 | |
Equity Commonwealth | 81,000 | 2,660,850 | |
Franklin Street Properties Corp. | 275,093 | 2,396,060 | |
Front Yard Residential Corp. Class B | 98,985 | 1,148,226 | |
Gaming & Leisure Properties | 126,866 | 5,353,745 | |
Global Net Lease, Inc. | 147,551 | 3,008,565 | |
Government Properties Income Trust | 132,285 | 4,413,028 | |
Healthcare Trust of America, Inc. | 123,100 | 3,736,085 | |
Hospitality Properties Trust (SBI) | 254,722 | 5,932,475 | |
Industrial Logistics Properties Trust | 136,179 | 2,946,914 | |
Lamar Advertising Co. Class A | 71,163 | 5,937,129 | |
Liberty Property Trust (SBI) | 66,500 | 4,097,730 | |
Medical Properties Trust, Inc. | 778,097 | 16,153,294 | |
MGM Growth Properties LLC | 284,345 | 8,811,852 | |
Mid-America Apartment Communities, Inc. | 113,657 | 15,469,854 | |
National Retail Properties, Inc. | 342,779 | 19,106,501 | |
Omega Healthcare Investors, Inc. | 140,200 | 5,892,606 | |
One Liberty Properties, Inc. | 38,229 | 1,044,034 | |
Outfront Media, Inc. | 761,003 | 19,009,855 | |
Park Hotels & Resorts, Inc. | 279,576 | 6,611,972 | |
Piedmont Office Realty Trust, Inc. Class A | 504,344 | 11,156,089 | |
Preferred Apartment Communities, Inc. Class A | 234,200 | 3,224,934 | |
Retail Properties America, Inc. | 234,284 | 3,333,861 | |
Retail Value, Inc. | 36,735 | 1,304,460 | |
RLJ Lodging Trust | 556,959 | 9,518,429 | |
Ryman Hospitality Properties, Inc. | 46,384 | 4,138,844 | |
Sabra Health Care REIT, Inc. | 380,682 | 8,481,595 | |
Senior Housing Properties Trust (SBI) | 596,834 | 4,368,825 | |
SITE Centers Corp. | 357,750 | 5,183,798 | |
SL Green Realty Corp. | 24,091 | 2,055,685 | |
Spirit Realty Capital, Inc. | 47,537 | 2,490,939 | |
Stag Industrial, Inc. | 322,829 | 10,004,471 | |
Summit Hotel Properties, Inc. | 198,800 | 2,409,456 | |
Sun Communities, Inc. | 56,144 | 9,247,478 | |
Tanger Factory Outlet Centers, Inc. (b) | 101,800 | 1,549,396 | |
The GEO Group, Inc. | 154,500 | 2,141,370 | |
VEREIT, Inc. | 1,265,900 | 12,355,184 | |
Washington Prime Group, Inc. | 365,000 | 1,518,400 | |
Weingarten Realty Investors (SBI) | 50,900 | 1,620,656 | |
Xenia Hotels & Resorts, Inc. | 257,700 | 5,427,162 | |
354,630,146 | |||
Real Estate Management & Development - 0.3% | |||
Cushman & Wakefield PLC (a)(b) | 648,946 | 12,583,063 | |
FirstService Corp. | 33,029 | 3,171,112 | |
Howard Hughes Corp. (a) | 14,200 | 1,567,822 | |
Jones Lang LaSalle, Inc. | 22,586 | 3,756,729 | |
Marcus & Millichap, Inc. (a) | 12,838 | 471,925 | |
The RMR Group, Inc. | 6,257 | 293,891 | |
21,844,542 | |||
TOTAL REAL ESTATE | 376,474,688 | ||
UTILITIES - 1.1% | |||
Electric Utilities - 0.4% | |||
Alliant Energy Corp. | 203,073 | 10,762,869 | |
Evergy, Inc. | 54,100 | 3,422,907 | |
PNM Resources, Inc. | 131,024 | 6,348,113 | |
Portland General Electric Co. | 277,466 | 15,402,138 | |
35,936,027 | |||
Gas Utilities - 0.1% | |||
National Fuel Gas Co. | 107,300 | 4,830,646 | |
South Jersey Industries, Inc. | 66,900 | 2,089,956 | |
Southwest Gas Holdings, Inc. | 53,948 | 4,087,100 | |
11,007,702 | |||
Independent Power and Renewable Electricity Producers - 0.3% | |||
NRG Energy, Inc. | 46,400 | 1,843,472 | |
The AES Corp. | 386,684 | 7,312,194 | |
Vistra Energy Corp. | 454,153 | 12,048,679 | |
21,204,345 | |||
Multi-Utilities - 0.3% | |||
Black Hills Corp. | 83,696 | 6,408,603 | |
MDU Resources Group, Inc. | 132,800 | 3,856,512 | |
NorthWestern Energy Corp. | 192,317 | 13,764,128 | |
24,029,243 | |||
TOTAL UTILITIES | 92,177,317 | ||
TOTAL COMMON STOCKS | |||
(Cost $6,094,298,503) | 7,349,771,768 | ||
Convertible Preferred Stocks - 0.0% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Internet & Direct Marketing Retail - 0.0% | |||
The Honest Co., Inc. Series D (a)(d)(e) | |||
(Cost $257,662) | 6,381 | 291,995 | |
Equity Funds - 7.1% | |||
Mid-Cap Blend Funds - 2.9% | |||
Fidelity SAI Small-Mid Cap 500 Index Fund (f) | 18,041,255 | 232,190,958 | |
Sector Funds - 1.3% | |||
Fidelity SAI Real Estate Index Fund (f) | 8,931,129 | 109,763,573 | |
Small Blend Funds - 2.9% | |||
Fidelity Small Cap Index Fund (f) | 11,171,759 | 234,383,495 | |
TOTAL EQUITY FUNDS | |||
(Cost $507,792,876) | 576,338,026 | ||
Principal Amount | Value | ||
U.S. Treasury Obligations - 0.0% | |||
U.S. Treasury Bills, yield at date of purchase 1.7% to 1.82% 12/19/19 to 3/19/20 (g) | |||
(Cost $159,495) | 160,000 | 159,573 | |
Shares | Value | ||
Money Market Funds - 5.9% | |||
Fidelity Cash Central Fund 1.61% (h) | 3,242,924 | 3,243,572 | |
Fidelity Securities Lending Cash Central Fund 1.61% (h)(i) | 274,777,838 | 274,805,316 | |
State Street Institutional U.S. Government Money Market Fund Premier Class 1.59% (j) | 202,684,751 | 202,684,751 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $480,733,639) | 480,733,639 | ||
TOTAL INVESTMENT IN SECURITIES - 103.4% | |||
(Cost $7,083,242,175) | 8,407,295,001 | ||
NET OTHER ASSETS (LIABILITIES) - (3.4)% | (272,676,476) | ||
NET ASSETS - 100% | $8,134,618,525 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/(Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 13 | Dec. 2019 | $1,055,470 | $33,099 | $33,099 |
CME E-mini S&P MidCap 400 Index Contracts (United States) | 5 | Dec. 2019 | 1,005,000 | 62,475 | 62,475 |
TOTAL FUTURES CONTRACTS | $95,574 |
The notional amount of futures purchased as a percentage of Net Assets is 0.0%
Percentages shown as 0.0% in the Schedule of Investments may reflect amounts less than 0.05%.
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $8,118,954 or 0.1% of net assets.
(d) Level 3 security
(e) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $291,995 or 0.0% of net assets.
(f) Affiliated Fund
(g) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $139,587.
(h) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
(i) Investment made with cash collateral received from securities on loan.
(j) The rate quoted is the annualized seven-day yield of the fund at period end.
Additional information on each restricted holding is as follows:
Security | Acquisition Date | Acquisition Cost |
The Honest Co., Inc. Series D | 9/25/15 | $257,662 |
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
Fidelity Cash Central Fund | $29,644 |
Fidelity Securities Lending Cash Central Fund | 1,228,836 |
Total | $ 1,258,480 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
Fidelity SAI Real Estate Index Fund | $99,325,713 | $2,440,475 | $-- | $2,440,476 | $-- | $7,997,385 | $109,763,573 |
Fidelity SAI Small-Mid Cap 500 Index Fund | 166,666,203 | 450,078,192 | 396,850,843 | 4,911,471 | 8,338,486 | 3,958,920 | 232,190,958 |
Fidelity Small Cap Index Fund | 166,544,687 | 452,876,168 | 392,219,461 | 740,872 | 2,108,795 | 5,073,306 | 234,383,495 |
Total | $432,536,603 | $905,394,835 | $789,070,304 | $8,092,819 | $10,447,281 | $17,029,611 | $576,338,026 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
If an unaffiliated Underlying Fund's net asset value is unavailable, shares of that fund may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and is categorized as Level 2 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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