Quarterly Holdings Report
for
Strategic Advisers® Small-Mid Cap Fund
Offered exclusively to certain managed account clients of Strategic Advisers LLC or its affiliates - not available for sale to the general public
May 31, 2022
SMC-NPRT1-0722
1.912862.111
Common Stocks - 78.3% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.0% | |||
Diversified Telecommunication Services - 0.2% | |||
Bandwidth, Inc. (a)(b) | 202,609 | 4,262,893 | |
EchoStar Holding Corp. Class A (a)(b) | 25,487 | 612,453 | |
Liberty Latin America Ltd.: | |||
Class A (a) | 218,831 | 2,081,083 | |
Class C (a) | 107,682 | 1,024,056 | |
Lumen Technologies, Inc. (b) | 429,200 | 5,253,408 | |
13,233,893 | |||
Entertainment - 0.2% | |||
Electronic Arts, Inc. | 16,095 | 2,231,572 | |
IMAX Corp. (a) | 45,000 | 779,400 | |
Sciplay Corp. (A Shares) (a) | 16,059 | 229,001 | |
Take-Two Interactive Software, Inc. (a) | 41,836 | 5,209,837 | |
World Wrestling Entertainment, Inc. Class A (b) | 107,619 | 7,185,721 | |
15,635,531 | |||
Interactive Media & Services - 0.9% | |||
Alphabet, Inc. Class C (a) | 971 | 2,214,637 | |
CarGurus, Inc. Class A (a) | 149,502 | 3,785,391 | |
Cars.com, Inc. (a) | 80,600 | 834,210 | |
Meta Platforms, Inc. Class A (a) | 33,432 | 6,473,772 | |
QuinStreet, Inc. (a) | 318,925 | 3,508,175 | |
TripAdvisor, Inc. (a) | 230,450 | 5,724,378 | |
Yelp, Inc. (a) | 231,322 | 6,803,180 | |
Ziff Davis, Inc. (a) | 541,735 | 41,356,050 | |
ZipRecruiter, Inc. (a) | 492,414 | 8,843,755 | |
79,543,548 | |||
Media - 0.7% | |||
AMC Networks, Inc. Class A (a) | 69,600 | 2,732,496 | |
Audacy, Inc. Class A (a)(b) | 862,300 | 1,500,402 | |
Criteo SA sponsored ADR (a) | 287,582 | 7,454,125 | |
Gray Television, Inc. (b) | 321,096 | 6,332,013 | |
iHeartMedia, Inc. (a) | 103,510 | 1,221,418 | |
Loyalty Ventures, Inc. (a) | 13,041 | 138,235 | |
News Corp. Class A | 96,500 | 1,679,100 | |
Nexstar Broadcasting Group, Inc. Class A | 92,642 | 16,232,731 | |
Ocean Outdoor Ltd. (a)(c) | 1,223,674 | 11,992,005 | |
Omnicom Group, Inc. | 43,894 | 3,274,931 | |
Paramount Global Class B | 106,900 | 3,669,877 | |
Sirius XM Holdings, Inc. (b) | 139,690 | 894,016 | |
TechTarget, Inc. (a)(b) | 21,100 | 1,499,999 | |
TEGNA, Inc. | 243,182 | 5,325,686 | |
The New York Times Co. Class A | 48,900 | 1,686,561 | |
65,633,595 | |||
TOTAL COMMUNICATION SERVICES | 174,046,567 | ||
CONSUMER DISCRETIONARY - 10.8% | |||
Auto Components - 0.7% | |||
Adient PLC (a) | 71,466 | 2,529,182 | |
Autoliv, Inc. (b) | 48,766 | 3,905,181 | |
BorgWarner, Inc. | 133,700 | 5,390,784 | |
Dana, Inc. (b) | 444,949 | 7,368,355 | |
Fox Factory Holding Corp. (a) | 51,710 | 4,241,254 | |
Gentex Corp. | 154,801 | 4,811,215 | |
Gentherm, Inc. (a) | 21,748 | 1,499,307 | |
LCI Industries | 81,017 | 9,683,152 | |
Lear Corp. | 73,301 | 10,332,509 | |
Standard Motor Products, Inc. | 30,230 | 1,207,689 | |
The Goodyear Tire & Rubber Co. (a)(b) | 935,419 | 12,085,613 | |
63,054,241 | |||
Automobiles - 0.3% | |||
Fisker, Inc. (a)(b) | 152,760 | 1,585,649 | |
Harley-Davidson, Inc. | 320,478 | 11,274,416 | |
Thor Industries, Inc. (b) | 118,526 | 9,004,420 | |
Volkswagen AG ADR | 128,376 | 2,884,609 | |
24,749,094 | |||
Distributors - 1.1% | |||
Funko, Inc. (a) | 17,015 | 346,596 | |
LKQ Corp. | 1,245,693 | 64,016,163 | |
Pool Corp. | 81,003 | 32,289,416 | |
96,652,175 | |||
Diversified Consumer Services - 1.3% | |||
2U, Inc. (a)(b) | 947,066 | 8,826,655 | |
ADT, Inc. (b) | 1,002,910 | 7,501,767 | |
Bright Horizons Family Solutions, Inc. (a)(b) | 126,875 | 11,488,531 | |
Carriage Services, Inc. (b) | 9,918 | 400,390 | |
Frontdoor, Inc. (a) | 1,458,113 | 36,073,716 | |
Grand Canyon Education, Inc. (a) | 148,089 | 13,205,096 | |
H&R Block, Inc. (b) | 74,471 | 2,624,358 | |
Mister Car Wash, Inc. (b) | 300,717 | 3,650,704 | |
Perdoceo Education Corp. (a)(b) | 45,884 | 500,594 | |
Service Corp. International | 107,934 | 7,558,618 | |
Stride, Inc. (a) | 514,373 | 20,117,128 | |
Terminix Global Holdings, Inc. (a) | 79,291 | 3,442,022 | |
WW International, Inc. (a) | 34,830 | 246,945 | |
115,636,524 | |||
Hotels, Restaurants & Leisure - 1.7% | |||
ARAMARK Holdings Corp. | 93,700 | 3,229,839 | |
Bowlero Corp. Class A (a)(b) | 859,687 | 9,611,301 | |
Brinker International, Inc. (a) | 37,600 | 1,141,160 | |
Caesars Entertainment, Inc. (a) | 36,300 | 1,821,171 | |
Churchill Downs, Inc. | 48,264 | 9,770,082 | |
Dine Brands Global, Inc. (b) | 107,210 | 7,878,863 | |
Domino's Pizza, Inc. | 8,900 | 3,232,213 | |
Dutch Bros, Inc. (b) | 96,232 | 3,613,512 | |
Expedia, Inc. (a) | 50,272 | 6,501,678 | |
Full House Resorts, Inc. (a) | 397,646 | 2,799,428 | |
Hilton Grand Vacations, Inc. (a) | 144,150 | 6,594,863 | |
Inspired Entertainment, Inc. (a) | 253,380 | 2,787,180 | |
International Game Technology PLC (b) | 159,129 | 3,408,543 | |
Krispy Kreme, Inc. (b) | 122,186 | 1,810,797 | |
Kura Sushi U.S.A., Inc. Class A (a)(b) | 189,302 | 7,134,792 | |
Light & Wonder, Inc. Class A (a) | 98,550 | 5,203,440 | |
Papa John's International, Inc. | 80,607 | 7,094,222 | |
Planet Fitness, Inc. (a) | 256,764 | 18,068,483 | |
Sportradar Holding AG (b) | 348,861 | 3,275,805 | |
Texas Roadhouse, Inc. Class A | 36,278 | 2,828,596 | |
Travel+Leisure Co. | 100,815 | 5,152,655 | |
Vail Resorts, Inc. | 96,365 | 24,304,217 | |
Wendy's Co. | 515,070 | 9,600,905 | |
Wingstop, Inc. (b) | 19,521 | 1,555,043 | |
Wyndham Hotels & Resorts, Inc. | 47,400 | 3,798,162 | |
152,216,950 | |||
Household Durables - 1.1% | |||
Cavco Industries, Inc. (a) | 5,586 | 1,240,986 | |
Ethan Allen Interiors, Inc. (b) | 14,383 | 334,549 | |
Helen of Troy Ltd. (a)(b) | 15,792 | 2,924,520 | |
KB Home | 208,619 | 7,195,269 | |
La-Z-Boy, Inc. (b) | 123,103 | 3,142,820 | |
M.D.C. Holdings, Inc. (b) | 64,000 | 2,443,520 | |
Meritage Homes Corp. (a) | 23,331 | 1,990,368 | |
Mohawk Industries, Inc. (a) | 57,368 | 8,115,277 | |
NVR, Inc. (a) | 983 | 4,374,959 | |
PulteGroup, Inc. | 450,994 | 20,411,988 | |
Skyline Champion Corp. (a) | 85,759 | 4,556,376 | |
Sony Group Corp. sponsored ADR | 57,903 | 5,446,935 | |
Taylor Morrison Home Corp. (a) | 187,736 | 5,438,712 | |
Tempur Sealy International, Inc. | 191,415 | 5,047,614 | |
Toll Brothers, Inc. | 114,388 | 5,773,162 | |
TopBuild Corp. (a) | 45,282 | 8,932,327 | |
Whirlpool Corp. (b) | 34,400 | 6,337,856 | |
93,707,238 | |||
Internet & Direct Marketing Retail - 0.3% | |||
CarParts.com, Inc. (a) | 610,884 | 4,624,392 | |
Etsy, Inc. (a) | 47,005 | 3,813,046 | |
Farfetch Ltd. Class A (a)(b) | 470,924 | 4,224,188 | |
Overstock.com, Inc. (a)(b) | 31,811 | 985,823 | |
PetMed Express, Inc. (b) | 13,707 | 301,965 | |
Porch Group, Inc. Class A (a) | 676,667 | 2,787,868 | |
Qurate Retail, Inc. Series A | 261,800 | 945,098 | |
Revolve Group, Inc. (a) | 149,049 | 4,379,060 | |
Shutterstock, Inc. (b) | 96,909 | 5,833,922 | |
27,895,362 | |||
Leisure Products - 0.6% | |||
Brunswick Corp. | 200,900 | 15,113,707 | |
Callaway Golf Co. (a)(b) | 556,998 | 12,092,427 | |
Hasbro, Inc. | 43,377 | 3,893,086 | |
Latham Group, Inc. (a)(b) | 334,124 | 3,177,519 | |
Malibu Boats, Inc. Class A (a)(b) | 55,840 | 3,272,224 | |
Polaris, Inc. (b) | 94,074 | 10,023,585 | |
Sturm, Ruger & Co., Inc. (b) | 30,417 | 2,065,010 | |
YETI Holdings, Inc. (a) | 57,361 | 2,624,266 | |
52,261,824 | |||
Multiline Retail - 0.1% | |||
Dillard's, Inc. Class A (b) | 2,829 | 852,887 | |
Kohl's Corp. | 94,900 | 3,826,368 | |
Macy's, Inc. | 101,300 | 2,395,745 | |
Nordstrom, Inc. (b) | 52,003 | 1,374,439 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 49,637 | 2,331,450 | |
10,780,889 | |||
Specialty Retail - 2.3% | |||
Academy Sports & Outdoors, Inc. | 57,665 | 1,932,354 | |
Advance Auto Parts, Inc. (b) | 98,904 | 18,777,913 | |
American Eagle Outfitters, Inc. (b) | 87,574 | 1,060,521 | |
Asbury Automotive Group, Inc. (a)(b) | 15,142 | 2,742,973 | |
AutoNation, Inc. (a) | 26,166 | 3,128,407 | |
Burlington Stores, Inc. (a) | 35,596 | 5,990,807 | |
Caleres, Inc. (b) | 42,904 | 1,221,048 | |
Five Below, Inc. (a) | 78,175 | 10,208,873 | |
Floor & Decor Holdings, Inc. Class A (a) | 111,317 | 8,397,754 | |
Foot Locker, Inc. | 246,615 | 8,133,363 | |
Genesco, Inc. (a) | 48,972 | 2,757,613 | |
Group 1 Automotive, Inc. (b) | 50,747 | 9,113,654 | |
Haverty Furniture Companies, Inc. (b) | 114,038 | 3,222,714 | |
Leslie's, Inc. (a)(b) | 457,123 | 8,877,329 | |
Lithia Motors, Inc. Class A (sub. vtg.) | 46,450 | 14,142,632 | |
Murphy U.S.A., Inc. | 36,712 | 9,145,693 | |
National Vision Holdings, Inc. (a)(b) | 116,936 | 3,290,579 | |
Penske Automotive Group, Inc. (b) | 61,985 | 7,136,953 | |
Sally Beauty Holdings, Inc. (a)(b) | 2,281,082 | 34,581,203 | |
Shoe Carnival, Inc. | 79,871 | 2,177,283 | |
Signet Jewelers Ltd. (b) | 34,726 | 2,069,670 | |
Sleep Number Corp. (a)(b) | 77,436 | 3,556,635 | |
Sonic Automotive, Inc. Class A (sub. vtg.) | 61,500 | 2,805,015 | |
The Aaron's Co., Inc. (b) | 128,600 | 2,515,416 | |
The Buckle, Inc. | 19,224 | 631,701 | |
The ODP Corp. (a) | 99,500 | 3,799,905 | |
TravelCenters of America LLC (a) | 172,411 | 6,732,650 | |
Victoria's Secret & Co. (a) | 85,920 | 3,540,763 | |
Williams-Sonoma, Inc. (b) | 119,494 | 15,285,672 | |
Winmark Corp. | 1,993 | 394,215 | |
197,371,308 | |||
Textiles, Apparel & Luxury Goods - 1.3% | |||
Canada Goose Holdings, Inc. (a)(b) | 205,652 | 4,125,379 | |
Capri Holdings Ltd. (a) | 62,102 | 3,026,851 | |
Carter's, Inc. (b) | 304,105 | 23,431,290 | |
Crocs, Inc. (a) | 56,339 | 3,141,463 | |
Hanesbrands, Inc. (b) | 894,801 | 10,621,288 | |
PVH Corp. | 27,600 | 1,956,012 | |
Ralph Lauren Corp. | 72,291 | 7,307,897 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a)(b) | 1,068,622 | 42,103,707 | |
Steven Madden Ltd. | 168,732 | 6,273,456 | |
Tapestry, Inc. | 270,530 | 9,333,285 | |
Under Armour, Inc. Class C (non-vtg.) (a) | 512,166 | 4,968,010 | |
116,288,638 | |||
TOTAL CONSUMER DISCRETIONARY | 950,614,243 | ||
CONSUMER STAPLES - 3.4% | |||
Beverages - 0.3% | |||
MGP Ingredients, Inc. (b) | 70,422 | 6,821,075 | |
Molson Coors Beverage Co. Class B | 295,935 | 16,525,010 | |
National Beverage Corp. (b) | 15,269 | 757,800 | |
24,103,885 | |||
Food & Staples Retailing - 1.0% | |||
Andersons, Inc. | 48,730 | 1,832,735 | |
BJ's Wholesale Club Holdings, Inc. (a) | 399,493 | 23,118,660 | |
Casey's General Stores, Inc. | 47,137 | 9,877,087 | |
Grocery Outlet Holding Corp. (a)(b) | 58,830 | 2,250,248 | |
Ingles Markets, Inc. Class A (b) | 100,678 | 8,966,383 | |
Kroger Co. | 160,567 | 8,505,234 | |
Performance Food Group Co. (a) | 354,980 | 15,384,833 | |
PriceSmart, Inc. | 33,511 | 2,634,970 | |
SpartanNash Co. | 71,900 | 2,474,079 | |
Sprouts Farmers Market LLC (a) | 124,700 | 3,378,123 | |
U.S. Foods Holding Corp. (a) | 119,177 | 3,947,142 | |
Weis Markets, Inc. | 69,739 | 5,127,211 | |
87,496,705 | |||
Food Products - 1.2% | |||
Archer Daniels Midland Co. | 11,061 | 1,004,560 | |
Bunge Ltd. | 22,500 | 2,662,200 | |
Flowers Foods, Inc. | 130,056 | 3,589,546 | |
Fresh Del Monte Produce, Inc. | 92,943 | 2,373,764 | |
Freshpet, Inc. (a)(b) | 94,818 | 6,824,051 | |
Hostess Brands, Inc. Class A (a) | 171,918 | 3,653,258 | |
Ingredion, Inc. | 141,073 | 13,358,202 | |
J&J Snack Foods Corp. (b) | 9,732 | 1,247,837 | |
John B. Sanfilippo & Son, Inc. | 5,807 | 443,539 | |
Lamb Weston Holdings, Inc. | 171,716 | 11,604,567 | |
Lancaster Colony Corp. | 12,973 | 1,581,409 | |
Nomad Foods Ltd. (a)(b) | 1,710,545 | 35,699,074 | |
SunOpta, Inc. (a)(b) | 738,871 | 5,748,416 | |
The Hain Celestial Group, Inc. (a) | 304,478 | 8,022,995 | |
The J.M. Smucker Co. | 20,900 | 2,620,233 | |
Tootsie Roll Industries, Inc. (b) | 11,667 | 385,828 | |
100,819,479 | |||
Household Products - 0.5% | |||
Energizer Holdings, Inc. | 163,224 | 4,895,088 | |
Reynolds Consumer Products, Inc. (b) | 309,660 | 8,428,945 | |
Spectrum Brands Holdings, Inc. | 357,457 | 31,363,277 | |
WD-40 Co. (b) | 8,972 | 1,693,824 | |
46,381,134 | |||
Personal Products - 0.2% | |||
elf Beauty, Inc. (a) | 418,881 | 11,150,612 | |
Herbalife Nutrition Ltd. (a)(b) | 64,584 | 1,407,285 | |
MediFast, Inc. | 38,142 | 6,360,179 | |
Nu Skin Enterprises, Inc. Class A (b) | 32,609 | 1,521,210 | |
USANA Health Sciences, Inc. (a)(b) | 7,643 | 537,532 | |
20,976,818 | |||
Tobacco - 0.2% | |||
Turning Point Brands, Inc. | 447,964 | 13,098,467 | |
Universal Corp. (b) | 75,778 | 4,825,543 | |
Vector Group Ltd. | 85,651 | 1,054,364 | |
18,978,374 | |||
TOTAL CONSUMER STAPLES | 298,756,395 | ||
ENERGY - 4.2% | |||
Energy Equipment & Services - 0.5% | |||
Cactus, Inc. | 262,870 | 13,779,645 | |
Championx Corp. | 109,821 | 2,555,535 | |
Helmerich & Payne, Inc. (b) | 169,470 | 8,532,815 | |
Nextier Oilfield Solutions, Inc. (a) | 340,681 | 3,713,423 | |
Pason Systems, Inc. | 372,853 | 4,719,434 | |
Patterson-UTI Energy, Inc. | 205,820 | 3,927,046 | |
TechnipFMC PLC (a) | 319,575 | 2,633,298 | |
39,861,196 | |||
Oil, Gas & Consumable Fuels - 3.7% | |||
Antero Resources Corp. (a) | 149,100 | 6,393,408 | |
APA Corp. | 217,477 | 10,223,594 | |
ARC Resources Ltd. | 403,548 | 6,109,717 | |
Baytex Energy Corp. (a) | 732,643 | 4,044,189 | |
Cameco Corp. (b) | 179,570 | 4,394,078 | |
Cardinal Energy Ltd. | 984,445 | 7,186,449 | |
Centennial Resource Development, Inc. Class A (a) | 633,134 | 5,027,084 | |
Chesapeake Energy Corp. (b) | 103,247 | 10,054,193 | |
CNX Resources Corp. (a) | 124,000 | 2,693,280 | |
Coterra Energy, Inc. | 421,136 | 14,457,599 | |
Delek U.S. Holdings, Inc. (a) | 251,805 | 7,342,634 | |
Devon Energy Corp. | 144,700 | 10,838,030 | |
DHT Holdings, Inc. | 824,131 | 4,911,821 | |
Diamondback Energy, Inc. | 133,048 | 20,225,957 | |
Enerplus Corp. (b) | 451,999 | 6,707,665 | |
Enviva, Inc. (b) | 282,204 | 21,980,870 | |
Golar LNG Ltd. (a) | 120,955 | 3,063,790 | |
Green Plains, Inc. (a)(b) | 97,938 | 3,190,820 | |
Gulfport Energy Corp. (a) | 85,454 | 8,267,675 | |
HF Sinclair Corp. | 516,592 | 25,364,667 | |
Kosmos Energy Ltd. (a) | 873,668 | 6,762,190 | |
Laredo Petroleum, Inc. (a) | 180,674 | 15,207,331 | |
Magnolia Oil & Gas Corp. Class A | 228,000 | 6,295,080 | |
Matador Resources Co. (b) | 182,583 | 11,119,305 | |
National Energy Services Reunited Corp. (a) | 242,692 | 1,810,482 | |
Navigator Holdings Ltd. (a) | 164,175 | 2,227,855 | |
Northern Oil & Gas, Inc. | 405,904 | 13,269,002 | |
Ovintiv, Inc. | 115,844 | 6,486,106 | |
Par Pacific Holdings, Inc. (a) | 169,767 | 2,784,179 | |
PBF Energy, Inc. Class A (a) | 122,652 | 4,072,046 | |
PDC Energy, Inc. | 167,538 | 13,258,957 | |
Range Resources Corp. (a) | 222,881 | 7,566,810 | |
Rex American Resources Corp. (a) | 10,826 | 940,671 | |
SandRidge Energy, Inc. (a)(b) | 180,386 | 4,251,698 | |
Scorpio Tankers, Inc. | 42,904 | 1,417,977 | |
SFL Corp. Ltd. | 299,986 | 3,374,843 | |
SM Energy Co. | 115,569 | 5,578,516 | |
Spartan Delta Corp. (a) | 355,185 | 4,060,475 | |
Talos Energy, Inc. (a) | 204,016 | 4,406,746 | |
Valero Energy Corp. | 51,215 | 6,637,464 | |
Viper Energy Partners LP (b) | 234,361 | 7,865,155 | |
Whiting Petroleum Corp. | 67,209 | 5,945,308 | |
World Fuel Services Corp. | 358,714 | 8,892,520 | |
326,708,236 | |||
TOTAL ENERGY | 366,569,432 | ||
FINANCIALS - 11.3% | |||
Banks - 4.0% | |||
Ameris Bancorp | 41,402 | 1,887,517 | |
Associated Banc-Corp. | 257,500 | 5,330,250 | |
Bank OZK | 232,011 | 9,621,496 | |
BankUnited, Inc. | 414,842 | 17,282,318 | |
Cathay General Bancorp | 102,900 | 4,230,219 | |
Citizens Financial Group, Inc. | 122,500 | 5,069,050 | |
Columbia Banking Systems, Inc. (b) | 65,897 | 1,986,795 | |
Comerica, Inc. | 127,005 | 10,568,086 | |
Commerce Bancshares, Inc. | 110,600 | 7,651,308 | |
Cullen/Frost Bankers, Inc. (b) | 63,475 | 7,933,106 | |
Customers Bancorp, Inc. (a)(b) | 234,694 | 9,692,862 | |
East West Bancorp, Inc. | 77,389 | 5,691,187 | |
Fifth Third Bancorp | 94,000 | 3,706,420 | |
First Bancorp, Puerto Rico | 694,320 | 10,366,198 | |
First Citizens Bancshares, Inc. | 20,363 | 14,262,245 | |
First Hawaiian, Inc. | 477,002 | 12,216,021 | |
First Horizon National Corp. | 252,583 | 5,766,470 | |
First Merchants Corp. | 65,081 | 2,678,734 | |
Five Star Bancorp (b) | 4,058 | 105,630 | |
Fulton Financial Corp. | 239,600 | 3,797,660 | |
Hancock Whitney Corp. | 82,900 | 4,131,736 | |
Hanmi Financial Corp. | 108,800 | 2,539,392 | |
HomeStreet, Inc. | 66,800 | 2,692,708 | |
Hope Bancorp, Inc. | 340,100 | 4,958,658 | |
Huntington Bancshares, Inc. | 169,915 | 2,358,420 | |
JPMorgan Chase & Co. | 14,978 | 1,980,541 | |
KeyCorp | 396,900 | 7,922,124 | |
Meta Financial Group, Inc. | 20,728 | 861,663 | |
Midland States Bancorp, Inc. | 85,384 | 2,295,122 | |
OFG Bancorp | 72,700 | 2,060,318 | |
PacWest Bancorp | 386,373 | 12,201,659 | |
Peoples Bancorp, Inc. | 40,051 | 1,144,658 | |
Pinnacle Financial Partners, Inc. | 72,963 | 5,940,647 | |
Preferred Bank, Los Angeles | 34,533 | 2,365,856 | |
Regions Financial Corp. | 294,000 | 6,494,460 | |
ServisFirst Bancshares, Inc. | 111,498 | 9,294,473 | |
Signature Bank | 84,007 | 18,168,194 | |
Silvergate Capital Corp. (a) | 4,300 | 337,550 | |
Southstate Corp. | 29,827 | 2,410,618 | |
SVB Financial Group (a) | 28,234 | 13,794,285 | |
Synovus Financial Corp. | 444,382 | 18,952,892 | |
Texas Capital Bancshares, Inc. (a) | 151,529 | 8,565,934 | |
Umpqua Holdings Corp. | 466,504 | 8,233,796 | |
Valley National Bancorp | 292,235 | 3,714,307 | |
Webster Financial Corp. | 237,910 | 11,679,002 | |
Western Alliance Bancorp. | 236,996 | 19,284,365 | |
Wintrust Financial Corp. | 236,418 | 20,660,569 | |
Zions Bancorp NA | 294,565 | 16,801,988 | |
351,689,507 | |||
Capital Markets - 2.9% | |||
Affiliated Managers Group, Inc. | 10,600 | 1,416,372 | |
Ares Management Corp. | 86,020 | 6,122,043 | |
Artisan Partners Asset Management, Inc. (b) | 132,390 | 5,085,100 | |
B. Riley Financial, Inc. (b) | 10,466 | 568,827 | |
Bridge Investment Group Holdings, Inc. | 14,170 | 273,623 | |
Carlyle Group LP | 91,005 | 3,506,423 | |
Cboe Global Markets, Inc. | 80,131 | 8,999,513 | |
Cohen & Steers, Inc. (b) | 16,424 | 1,251,673 | |
Coinbase Global, Inc. (a)(b) | 19,305 | 1,507,721 | |
Diamond Hill Investment Group, Inc. | 2,076 | 388,503 | |
Donnelley Financial Solutions, Inc. (a) | 74,430 | 2,315,517 | |
Evercore, Inc. Class A | 156,312 | 17,850,830 | |
FactSet Research Systems, Inc. | 56,773 | 21,674,796 | |
Federated Hermes, Inc. (b) | 63,384 | 2,153,154 | |
Focus Financial Partners, Inc. Class A (a) | 260,335 | 9,814,630 | |
Greenhill & Co., Inc. (b) | 9,078 | 111,659 | |
Hamilton Lane, Inc. Class A | 22,880 | 1,591,304 | |
Houlihan Lokey | 33,378 | 2,868,505 | |
Jefferies Financial Group, Inc. | 106,500 | 3,516,630 | |
Lazard Ltd. Class A | 161,760 | 5,703,658 | |
LPL Financial | 221,818 | 43,518,473 | |
MarketAxess Holdings, Inc. | 8,403 | 2,366,957 | |
Moelis & Co. Class A (b) | 429,939 | 20,172,738 | |
Morningstar, Inc. | 45,474 | 11,688,182 | |
P10, Inc. (b) | 842,908 | 9,693,442 | |
PJT Partners, Inc. (b) | 55,772 | 4,229,748 | |
SEI Investments Co. | 69,366 | 4,053,055 | |
Sprott, Inc. (b) | 382,239 | 14,043,461 | |
StepStone Group, Inc. Class A | 413,806 | 11,280,352 | |
Stifel Financial Corp. | 103,090 | 6,615,285 | |
U.S. Global Investors, Inc. Class A (b) | 118,276 | 568,908 | |
Victory Capital Holdings, Inc. (b) | 654,048 | 18,496,477 | |
WisdomTree Investments, Inc. (b) | 1,298,449 | 7,725,772 | |
251,173,331 | |||
Consumer Finance - 0.6% | |||
Ally Financial, Inc. | 167,300 | 7,367,892 | |
Credit Acceptance Corp. (a)(b) | 5,424 | 3,228,961 | |
Enova International, Inc. (a) | 107,097 | 3,382,123 | |
FirstCash Holdings, Inc. | 23,900 | 1,784,135 | |
Navient Corp. | 475,859 | 7,613,744 | |
OneMain Holdings, Inc. | 92,300 | 4,066,738 | |
PRA Group, Inc. (a)(b) | 69,122 | 2,557,514 | |
Regional Management Corp. | 71,100 | 3,382,938 | |
SLM Corp. | 1,107,979 | 21,705,309 | |
55,089,354 | |||
Diversified Financial Services - 0.2% | |||
A-Mark Precious Metals, Inc. | 5,424 | 412,387 | |
Banco Latinoamericano de Comercio Exterior SA Series E (b) | 75,700 | 1,125,659 | |
Cannae Holdings, Inc. (a) | 675,936 | 13,701,223 | |
Voya Financial, Inc. (b) | 70,000 | 4,802,700 | |
20,041,969 | |||
Insurance - 2.8% | |||
Alleghany Corp. (a) | 4,324 | 3,605,265 | |
American Equity Investment Life Holding Co. | 232,308 | 9,352,720 | |
American Financial Group, Inc. | 126,896 | 17,930,405 | |
Amerisafe, Inc. | 12,674 | 638,770 | |
Assurant, Inc. | 46,382 | 8,195,236 | |
Assured Guaranty Ltd. | 109,013 | 6,415,415 | |
Axis Capital Holdings Ltd. | 241,675 | 14,154,905 | |
BRP Group, Inc. (a) | 79,600 | 2,007,512 | |
CNA Financial Corp. | 196,701 | 9,016,774 | |
CNO Financial Group, Inc. | 339,200 | 6,977,344 | |
Crawford & Co. Class B | 124,426 | 934,439 | |
Employers Holdings, Inc. | 57,981 | 2,400,993 | |
Erie Indemnity Co. Class A | 16,324 | 2,738,351 | |
Everest Re Group Ltd. | 25,746 | 7,273,245 | |
Fidelity National Financial, Inc. | 317,783 | 13,442,221 | |
First American Financial Corp. | 173,708 | 10,524,968 | |
Genworth Financial, Inc. Class A (a) | 1,754,878 | 7,107,256 | |
Globe Life, Inc. | 30,453 | 2,971,299 | |
Goosehead Insurance | 31,438 | 1,627,860 | |
Hanover Insurance Group, Inc. | 71,643 | 10,502,864 | |
HCI Group, Inc. (b) | 23,462 | 1,594,712 | |
Heritage Insurance Holdings, Inc. | 127,900 | 468,114 | |
Kemper Corp. | 123,920 | 6,546,694 | |
Kinsale Capital Group, Inc. | 97,672 | 21,476,119 | |
Lincoln National Corp. | 119,600 | 6,928,428 | |
Old Republic International Corp. | 446,470 | 10,679,562 | |
Primerica, Inc. | 19,100 | 2,406,600 | |
ProAssurance Corp. | 171,779 | 3,815,212 | |
Reinsurance Group of America, Inc. | 28,843 | 3,629,892 | |
RenaissanceRe Holdings Ltd. (b) | 29,978 | 4,602,223 | |
RLI Corp. (b) | 133,359 | 16,152,442 | |
Selective Insurance Group, Inc. | 84,588 | 6,707,828 | |
Trupanion, Inc. (a)(b) | 67,540 | 4,517,075 | |
Universal Insurance Holdings, Inc. | 101,536 | 1,309,814 | |
Unum Group | 121,200 | 4,417,740 | |
White Mountains Insurance Group Ltd. | 13,968 | 17,388,204 | |
250,458,501 | |||
Mortgage Real Estate Investment Trusts - 0.3% | |||
AGNC Investment Corp. | 191,354 | 2,340,259 | |
Annaly Capital Management, Inc. | 414,200 | 2,737,862 | |
Ares Commercial Real Estate Corp. | 96,519 | 1,418,829 | |
Blackstone Mortgage Trust, Inc. | 75,473 | 2,347,965 | |
Chimera Investment Corp. | 176,100 | 1,725,780 | |
MFA Financial, Inc. | 104,800 | 1,416,896 | |
New Residential Investment Corp. (b) | 573,200 | 6,477,160 | |
Redwood Trust, Inc. | 266,700 | 2,720,340 | |
Starwood Property Trust, Inc. | 177,398 | 4,238,038 | |
25,423,129 | |||
Thrifts & Mortgage Finance - 0.5% | |||
Axos Financial, Inc. (a) | 84,753 | 3,275,703 | |
Essent Group Ltd. | 170,705 | 7,304,467 | |
Federal Agricultural Mortgage Corp. Class C (non-vtg.) | 58,525 | 6,145,710 | |
Merchants Bancorp | 16,390 | 417,781 | |
MGIC Investment Corp. | 261,047 | 3,636,385 | |
Mr. Cooper Group, Inc. (a) | 45,508 | 1,973,227 | |
NMI Holdings, Inc. (a) | 200,644 | 3,733,985 | |
PennyMac Financial Services, Inc. | 46,659 | 2,287,224 | |
Radian Group, Inc. | 196,700 | 4,231,017 | |
Rocket Companies, Inc. (b) | 88,444 | 802,187 | |
Walker & Dunlop, Inc. | 58,064 | 6,172,784 | |
39,980,470 | |||
TOTAL FINANCIALS | 993,856,261 | ||
HEALTH CARE - 9.4% | |||
Biotechnology - 1.4% | |||
ACADIA Pharmaceuticals, Inc. (a) | 88,278 | 1,425,690 | |
ADC Therapeutics SA (a)(b) | 90,699 | 620,381 | |
Agios Pharmaceuticals, Inc. (a)(b) | 149,774 | 2,916,100 | |
Albireo Pharma, Inc. (a)(b) | 111,786 | 2,227,895 | |
Amicus Therapeutics, Inc. (a) | 47,989 | 365,676 | |
Applied Genetic Technologies Corp. (a)(b) | 1,216,061 | 1,143,097 | |
Arcus Biosciences, Inc. (a) | 73,080 | 1,384,866 | |
Arrowhead Pharmaceuticals, Inc. (a) | 60,710 | 2,025,286 | |
Ascendis Pharma A/S sponsored ADR (a) | 44,125 | 3,729,004 | |
Avid Bioservices, Inc. (a)(b) | 100,132 | 1,338,765 | |
BioCryst Pharmaceuticals, Inc. (a)(b) | 152,900 | 1,423,499 | |
Biohaven Pharmaceutical Holding Co. Ltd. (a) | 58,867 | 8,460,954 | |
BioMarin Pharmaceutical, Inc. (a) | 29,466 | 2,213,781 | |
Blueprint Medicines Corp. (a) | 83,292 | 4,581,060 | |
C4 Therapeutics, Inc. (a)(b) | 490,434 | 3,560,551 | |
CareDx, Inc. (a)(b) | 237,164 | 5,964,675 | |
Catalyst Pharmaceutical Partners, Inc. (a) | 310,800 | 2,237,760 | |
Celldex Therapeutics, Inc. (a) | 13,700 | 322,224 | |
Coherus BioSciences, Inc. (a) | 156,130 | 1,145,994 | |
Emergent BioSolutions, Inc. (a) | 35,643 | 1,174,793 | |
Erasca, Inc. (b) | 108,130 | 586,065 | |
Exelixis, Inc. (a) | 129,100 | 2,366,403 | |
Fate Therapeutics, Inc. (a)(b) | 34,284 | 791,960 | |
Global Blood Therapeutics, Inc. (a) | 45,879 | 1,144,222 | |
Halozyme Therapeutics, Inc. (a) | 69,503 | 3,195,748 | |
Heron Therapeutics, Inc. (a)(b) | 567,024 | 1,871,179 | |
Horizon Therapeutics PLC (a) | 24,640 | 2,209,962 | |
Insmed, Inc. (a)(b) | 39,652 | 746,251 | |
Instil Bio, Inc. (a)(b) | 113,319 | 680,481 | |
Intellia Therapeutics, Inc. (a) | 43,100 | 1,988,634 | |
Iovance Biotherapeutics, Inc. (a) | 164,897 | 1,113,055 | |
Ironwood Pharmaceuticals, Inc. Class A (a)(b) | 588,100 | 6,627,887 | |
Karyopharm Therapeutics, Inc. (a)(b) | 96,637 | 606,880 | |
Legend Biotech Corp. ADR (a) | 46,757 | 1,977,354 | |
Ligand Pharmaceuticals, Inc. Class B (a)(b) | 31,981 | 2,843,431 | |
Neurocrine Biosciences, Inc. (a) | 61,228 | 5,724,206 | |
Oyster Point Pharma, Inc. (a)(b) | 101,276 | 398,015 | |
Puma Biotechnology, Inc. (a)(b) | 27,452 | 53,257 | |
RAPT Therapeutics, Inc. (a)(b) | 143,700 | 2,115,264 | |
Relay Therapeutics, Inc. (a)(b) | 237,425 | 3,865,279 | |
Repligen Corp. (a) | 44,395 | 7,301,646 | |
Springworks Therapeutics, Inc. (a)(b) | 229,236 | 4,341,730 | |
Turning Point Therapeutics, Inc. (a) | 53,730 | 1,900,430 | |
Ultragenyx Pharmaceutical, Inc. (a) | 37,098 | 1,739,896 | |
United Therapeutics Corp. (a) | 51,804 | 11,932,533 | |
Veracyte, Inc. (a)(b) | 338,268 | 5,946,751 | |
Vir Biotechnology, Inc. (a) | 86,546 | 2,233,752 | |
124,564,322 | |||
Health Care Equipment & Supplies - 2.3% | |||
Abiomed, Inc. (a) | 2,263 | 596,753 | |
Atricure, Inc. (a) | 118,320 | 4,807,342 | |
Atrion Corp. (b) | 908 | 570,941 | |
AxoGen, Inc. (a)(b) | 1,203,288 | 11,635,795 | |
Axonics Modulation Technologies, Inc. (a)(b) | 78,800 | 3,940,000 | |
CryoPort, Inc. (a)(b) | 39,684 | 1,009,958 | |
Cutera, Inc. (a)(b) | 46,100 | 2,074,039 | |
Enovis Corp. (a) | 23,797 | 1,578,693 | |
Envista Holdings Corp. (a) | 525,524 | 22,618,553 | |
Globus Medical, Inc. (a) | 99,686 | 6,639,088 | |
Haemonetics Corp. (a) | 111,271 | 7,039,003 | |
Hologic, Inc. (a) | 129,129 | 9,719,540 | |
ICU Medical, Inc. (a) | 51,531 | 9,360,091 | |
Inari Medical, Inc. (a)(b) | 80,113 | 5,271,435 | |
Insulet Corp. (a) | 8,375 | 1,787,895 | |
Integra LifeSciences Holdings Corp. (a) | 186,259 | 11,667,264 | |
iRhythm Technologies, Inc. (a) | 36,330 | 5,117,081 | |
LeMaitre Vascular, Inc. (b) | 12,578 | 575,066 | |
Meridian Bioscience, Inc. (a) | 28,375 | 780,313 | |
Merit Medical Systems, Inc. (a) | 214,099 | 13,143,538 | |
Natus Medical, Inc. (a) | 22,352 | 732,922 | |
Neogen Corp. (a)(b) | 70,354 | 1,861,567 | |
Nevro Corp. (a) | 97,857 | 4,264,608 | |
Omnicell, Inc. (a) | 48,457 | 5,386,480 | |
QuidelOrtho Corp. (a) | 215,208 | 20,451,216 | |
Silk Road Medical, Inc. (a)(b) | 119,103 | 3,956,602 | |
STERIS PLC | 144,420 | 32,956,644 | |
Talis Biomedical Corp. (a)(b) | 167,330 | 175,697 | |
Tandem Diabetes Care, Inc. (a) | 34,500 | 2,351,865 | |
Teleflex, Inc. | 32,129 | 9,244,798 | |
The Cooper Companies, Inc. | 11,865 | 4,161,530 | |
205,476,317 | |||
Health Care Providers & Services - 2.8% | |||
Acadia Healthcare Co., Inc. (a) | 190,579 | 13,563,507 | |
agilon health, Inc. (a)(b) | 87,000 | 1,661,700 | |
Amedisys, Inc. (a) | 47,057 | 5,454,377 | |
AMN Healthcare Services, Inc. (a) | 30,941 | 2,998,183 | |
Apollo Medical Holdings, Inc. (a)(b) | 8,952 | 336,058 | |
Chemed Corp. | 46,296 | 22,425,782 | |
Corvel Corp. (a) | 6,147 | 916,887 | |
DaVita HealthCare Partners, Inc. (a) | 59,000 | 5,751,910 | |
dentalcorp Holdings Ltd. (a)(b) | 890,152 | 8,564,770 | |
Encompass Health Corp. | 191,258 | 12,535,049 | |
Guardant Health, Inc. (a) | 68,059 | 2,789,058 | |
HealthEquity, Inc. (a) | 438,801 | 27,460,167 | |
Henry Schein, Inc. (a) | 298,656 | 25,576,900 | |
MEDNAX, Inc. (a) | 941,767 | 18,194,938 | |
Molina Healthcare, Inc. (a) | 72,794 | 21,126,275 | |
National Research Corp. Class A | 8,994 | 322,795 | |
Option Care Health, Inc. (a) | 5,100 | 154,836 | |
Owens & Minor, Inc. (b) | 68,500 | 2,389,280 | |
Patterson Companies, Inc. | 135,504 | 4,280,571 | |
PetIQ, Inc. Class A (a)(b) | 255,343 | 4,381,686 | |
Premier, Inc. (b) | 560,537 | 20,969,689 | |
Progyny, Inc. (a) | 6,687 | 211,376 | |
Quest Diagnostics, Inc. | 33,900 | 4,780,578 | |
R1 RCM, Inc. (a) | 761,354 | 16,346,270 | |
Select Medical Holdings Corp. (b) | 186,200 | 4,533,970 | |
Tenet Healthcare Corp. (a) | 50,900 | 3,293,739 | |
U.S. Physical Therapy, Inc. (b) | 8,451 | 951,498 | |
Universal Health Services, Inc. Class B | 126,838 | 15,805,283 | |
247,777,132 | |||
Health Care Technology - 0.6% | |||
Certara, Inc. (a)(b) | 648,748 | 13,182,559 | |
Change Healthcare, Inc. (a) | 926,461 | 22,318,445 | |
Definitive Healthcare Corp. (b) | 288,832 | 5,646,666 | |
Doximity, Inc. (b) | 82,339 | 2,881,042 | |
Health Catalyst, Inc. (a) | 208,478 | 3,054,203 | |
iCAD, Inc. (a) | 554,863 | 2,119,577 | |
Phreesia, Inc. (a) | 26,013 | 471,876 | |
Simulations Plus, Inc. (b) | 10,286 | 488,379 | |
50,162,747 | |||
Life Sciences Tools & Services - 1.6% | |||
Avantor, Inc. (a) | 207,164 | 6,637,535 | |
Azenta, Inc. | 39,502 | 3,027,433 | |
Bio-Rad Laboratories, Inc. Class A (a) | 21,654 | 11,645,305 | |
Bruker Corp. | 125,602 | 7,847,613 | |
Harvard Bioscience, Inc. (a)(b) | 1,175,263 | 4,301,463 | |
ICON PLC (a)(b) | 64,867 | 14,516,586 | |
Inotiv, Inc. (a)(b) | 192,202 | 2,940,691 | |
Medpace Holdings, Inc. (a)(b) | 80,445 | 11,522,942 | |
Sotera Health Co. (a) | 1,060,351 | 22,585,476 | |
Stevanato Group SpA (b) | 88,426 | 1,428,080 | |
Syneos Health, Inc. (a) | 572,182 | 42,278,528 | |
Thermo Fisher Scientific, Inc. | 6,863 | 3,895,233 | |
West Pharmaceutical Services, Inc. | 43,300 | 13,439,454 | |
146,066,339 | |||
Pharmaceuticals - 0.7% | |||
Aerie Pharmaceuticals, Inc. (a)(b) | 119,782 | 620,471 | |
Arvinas Holding Co. LLC (a) | 154,631 | 6,446,566 | |
Bayer AG sponsored ADR | 453,649 | 8,084,025 | |
Catalent, Inc. (a) | 205,378 | 21,166,257 | |
Innoviva, Inc. (a) | 267,362 | 4,055,882 | |
Intra-Cellular Therapies, Inc. (a) | 47,710 | 2,738,554 | |
Jazz Pharmaceuticals PLC (a) | 35,400 | 5,298,672 | |
Lannett Co., Inc. (a)(b) | 177,600 | 92,352 | |
Pacira Biosciences, Inc. (a) | 50,065 | 3,166,611 | |
Phathom Pharmaceuticals, Inc. (a)(b) | 114,251 | 819,180 | |
Prestige Brands Holdings, Inc. (a) | 46,999 | 2,623,484 | |
Revance Therapeutics, Inc. (a) | 92,792 | 1,269,395 | |
Supernus Pharmaceuticals, Inc. (a) | 76,737 | 2,138,660 | |
58,520,109 | |||
TOTAL HEALTH CARE | 832,566,966 | ||
INDUSTRIALS - 16.1% | |||
Aerospace & Defense - 0.9% | |||
Axon Enterprise, Inc. (a) | 56,578 | 5,734,746 | |
BWX Technologies, Inc. | 76,340 | 3,908,608 | |
Curtiss-Wright Corp. | 87,128 | 12,370,433 | |
HEICO Corp. Class A | 33,800 | 3,957,642 | |
Howmet Aerospace, Inc. | 151,660 | 5,424,878 | |
Huntington Ingalls Industries, Inc. | 52,501 | 11,049,360 | |
L3Harris Technologies, Inc. | 6,972 | 1,679,555 | |
Moog, Inc. Class A | 48,900 | 3,979,971 | |
Rocket Lab U.S.A., Inc. Class A (a) | 582,254 | 2,771,529 | |
Spirit AeroSystems Holdings, Inc. Class A | 224,570 | 7,055,989 | |
Textron, Inc. | 38,235 | 2,496,363 | |
Woodward, Inc. | 183,857 | 18,681,710 | |
79,110,784 | |||
Air Freight & Logistics - 0.7% | |||
Air Transport Services Group, Inc. (a) | 669,856 | 20,243,048 | |
Atlas Air Worldwide Holdings, Inc. (a) | 91,000 | 6,343,610 | |
C.H. Robinson Worldwide, Inc. (b) | 205,981 | 22,350,998 | |
Forward Air Corp. | 121,797 | 11,350,262 | |
GXO Logistics, Inc. (a) | 23,727 | 1,287,664 | |
Hub Group, Inc. Class A (a) | 33,533 | 2,447,238 | |
64,022,820 | |||
Airlines - 0.2% | |||
Alaska Air Group, Inc. (a) | 193,564 | 9,341,399 | |
JetBlue Airways Corp. (a) | 342,900 | 3,682,746 | |
SkyWest, Inc. (a) | 300,339 | 8,097,139 | |
21,121,284 | |||
Building Products - 1.5% | |||
A.O. Smith Corp. | 87,170 | 5,240,660 | |
Allegion PLC | 58,706 | 6,554,525 | |
Apogee Enterprises, Inc. (b) | 70,192 | 2,919,987 | |
Armstrong World Industries, Inc. | 213,522 | 17,829,087 | |
Builders FirstSource, Inc. (a) | 65,945 | 4,292,360 | |
Carlisle Companies, Inc. | 30,790 | 7,833,900 | |
Fortune Brands Home & Security, Inc. | 215,495 | 14,944,578 | |
Gibraltar Industries, Inc. (a) | 9,797 | 409,123 | |
Hayward Holdings, Inc. (a) | 517,780 | 7,922,034 | |
Jeld-Wen Holding, Inc. (a) | 27,000 | 508,410 | |
Lennox International, Inc. | 37,325 | 7,797,193 | |
Masonite International Corp. (a) | 174,211 | 15,997,796 | |
Owens Corning | 119,733 | 11,444,080 | |
Resideo Technologies, Inc. (a) | 246,657 | 5,826,038 | |
Simpson Manufacturing Co. Ltd. (b) | 95,565 | 10,354,468 | |
Tecnoglass, Inc. (b) | 329,414 | 7,069,224 | |
Trex Co., Inc. (a)(b) | 78,572 | 5,006,608 | |
131,950,071 | |||
Commercial Services & Supplies - 2.6% | |||
ABM Industries, Inc. | 144,544 | 6,988,702 | |
ACCO Brands Corp. (b) | 401,805 | 3,029,610 | |
ACV Auctions, Inc. Class A (a) | 1,707,374 | 14,410,237 | |
BrightView Holdings, Inc. (a)(b) | 226,985 | 2,950,805 | |
Charah Solutions, Inc. (a)(b) | 1,446,980 | 4,398,819 | |
Cimpress PLC (a) | 108,359 | 4,722,285 | |
Clean Harbors, Inc. (a) | 87,854 | 8,205,564 | |
CoreCivic, Inc. (a) | 882,638 | 11,359,551 | |
Deluxe Corp. (b) | 56,100 | 1,342,473 | |
Driven Brands Holdings, Inc. (a) | 658,306 | 19,051,376 | |
GFL Environmental, Inc. (b) | 56,829 | 1,737,263 | |
IAA, Inc. (a)(b) | 316,995 | 12,372,315 | |
KAR Auction Services, Inc. (a) | 279,600 | 4,465,212 | |
Marlowe PLC (a) | 1,699,706 | 19,576,048 | |
Millerknoll, Inc. (b) | 227,749 | 6,878,020 | |
MSA Safety, Inc. | 97,173 | 12,388,586 | |
Ritchie Bros. Auctioneers, Inc. (b) | 570,490 | 34,337,793 | |
Rollins, Inc. | 148,140 | 5,253,044 | |
Steelcase, Inc. Class A (b) | 192,772 | 2,363,385 | |
Stericycle, Inc. (a)(b) | 187,779 | 9,492,228 | |
Tetra Tech, Inc. | 80,279 | 10,835,257 | |
The Brink's Co. | 84,143 | 5,118,419 | |
UniFirst Corp. | 72,192 | 11,799,060 | |
Viad Corp. (a) | 74,722 | 2,250,627 | |
Waste Connections, Inc. (United States) | 113,624 | 14,491,605 | |
229,818,284 | |||
Construction & Engineering - 1.0% | |||
AECOM | 143,453 | 10,020,192 | |
Arcosa, Inc. | 139,730 | 7,387,525 | |
Argan, Inc. | 148,292 | 5,930,197 | |
Comfort Systems U.S.A., Inc. | 102,919 | 9,233,893 | |
Dycom Industries, Inc. (a) | 123,789 | 11,525,994 | |
EMCOR Group, Inc. | 70,608 | 7,458,323 | |
MDU Resources Group, Inc. | 177,828 | 4,868,931 | |
MYR Group, Inc. (a) | 11,041 | 1,011,466 | |
Willscot Mobile Mini Holdings (a) | 843,623 | 30,142,650 | |
87,579,171 | |||
Electrical Equipment - 1.5% | |||
Acuity Brands, Inc. | 39,158 | 6,853,433 | |
AMETEK, Inc. | 39,972 | 4,855,399 | |
Array Technologies, Inc. (a)(b) | 281,796 | 3,122,300 | |
Atkore, Inc. (a) | 195,372 | 21,279,918 | |
Babcock & Wilcox Enterprises, Inc. (a) | 419,445 | 2,747,365 | |
EnerSys | 54,072 | 3,661,756 | |
Generac Holdings, Inc. (a) | 119,069 | 29,419,569 | |
GrafTech International Ltd. | 459,198 | 3,985,839 | |
Hubbell, Inc. Class B (b) | 5,314 | 1,008,916 | |
nVent Electric PLC | 110,110 | 3,897,894 | |
Regal Rexnord Corp. | 103,596 | 12,944,320 | |
Sensata Technologies, Inc. PLC | 732,469 | 35,180,486 | |
Vertiv Holdings Co. | 715,350 | 7,861,697 | |
136,818,892 | |||
Machinery - 3.2% | |||
AGCO Corp. | 128,561 | 16,472,521 | |
Allison Transmission Holdings, Inc. | 274,720 | 10,991,547 | |
Altra Industrial Motion Corp. | 81,601 | 3,199,575 | |
Barnes Group, Inc. (b) | 30,484 | 1,098,339 | |
Chart Industries, Inc. (a)(b) | 21,300 | 3,746,244 | |
Crane Holdings Co. | 70,153 | 6,710,836 | |
Donaldson Co., Inc. | 80,892 | 4,229,034 | |
Douglas Dynamics, Inc. | 119,104 | 3,742,248 | |
ESAB Corp. | 71,823 | 3,591,150 | |
Flowserve Corp. (b) | 100,800 | 3,175,200 | |
Gorman-Rupp Co. (b) | 14,877 | 443,186 | |
Graco, Inc. | 144,832 | 9,167,866 | |
Hillenbrand, Inc. | 62,465 | 2,613,536 | |
Hillman Solutions Corp. Class A (a)(b) | 745,495 | 8,506,098 | |
IDEX Corp. | 94,614 | 18,123,312 | |
Ingersoll Rand, Inc. | 161,199 | 7,600,533 | |
ITT, Inc. | 109,890 | 8,112,080 | |
John Bean Technologies Corp. | 49,182 | 5,987,909 | |
Lincoln Electric Holdings, Inc. (b) | 152,738 | 20,744,875 | |
Middleby Corp. (a) | 105,277 | 15,945,254 | |
Mueller Industries, Inc. (b) | 95,546 | 5,145,152 | |
Nordson Corp. | 93,168 | 20,299,444 | |
Omega Flex, Inc. (b) | 1,982 | 219,090 | |
Oshkosh Corp. | 77,561 | 7,206,193 | |
RBC Bearings, Inc. (a)(b) | 91,166 | 16,992,431 | |
Snap-On, Inc. | 96,524 | 21,416,745 | |
Tennant Co. (b) | 161,717 | 10,065,266 | |
Terex Corp. (b) | 48,247 | 1,707,461 | |
Timken Co. | 147,950 | 9,035,307 | |
Toro Co. | 330,731 | 27,282,000 | |
Wabash National Corp. | 149,262 | 2,291,172 | |
Watts Water Technologies, Inc. Class A | 18,037 | 2,359,781 | |
278,221,385 | |||
Marine - 0.4% | |||
Genco Shipping & Trading Ltd. | 31,600 | 797,900 | |
Kirby Corp. (a) | 264,520 | 17,863,036 | |
Matson, Inc. | 170,268 | 15,303,688 | |
33,964,624 | |||
Professional Services - 2.1% | |||
Acacia Research Corp. (a)(b) | 1,783,700 | 8,526,086 | |
Alight, Inc. Class A (a) | 4,569,657 | 37,288,401 | |
ASGN, Inc. (a) | 77,001 | 7,332,805 | |
Barrett Business Services, Inc. | 4,912 | 367,712 | |
Booz Allen Hamilton Holding Corp. Class A | 20,290 | 1,742,099 | |
CACI International, Inc. Class A (a) | 53,921 | 15,117,831 | |
CBIZ, Inc. (a) | 350,882 | 14,372,127 | |
Dun & Bradstreet Holdings, Inc. (a)(b) | 881,744 | 15,227,719 | |
Exponent, Inc. | 34,107 | 3,082,932 | |
FTI Consulting, Inc. (a)(b) | 14,825 | 2,490,600 | |
Heidrick & Struggles International, Inc. | 66,918 | 2,312,686 | |
Insperity, Inc. | 23,435 | 2,345,140 | |
Kforce, Inc. (b) | 13,181 | 865,728 | |
Korn Ferry | 116,620 | 7,167,465 | |
Leidos Holdings, Inc. | 50,332 | 5,259,694 | |
Manpower, Inc. | 56,200 | 5,036,082 | |
Robert Half International, Inc. | 134,725 | 12,145,459 | |
Science Applications International Corp. | 144,989 | 12,550,248 | |
Sterling Check Corp. (b) | 266,936 | 4,959,671 | |
TransUnion Holding Co., Inc. | 137,760 | 11,958,946 | |
TriNet Group, Inc. (a) | 156,117 | 12,261,429 | |
182,410,860 | |||
Road & Rail - 0.9% | |||
ArcBest Corp. (b) | 61,934 | 4,684,068 | |
Daseke, Inc. (a) | 917,722 | 6,937,978 | |
Heartland Express, Inc. | 213,499 | 3,048,766 | |
Knight-Swift Transportation Holdings, Inc. Class A | 436,709 | 21,241,526 | |
Landstar System, Inc. | 128,451 | 19,451,335 | |
Lyft, Inc. (a) | 203,650 | 3,600,532 | |
Ryder System, Inc. | 42,000 | 3,360,840 | |
TFI International, Inc. | 44,670 | 3,665,174 | |
Uber Technologies, Inc. (a) | 100,932 | 2,341,622 | |
Werner Enterprises, Inc. (b) | 45,810 | 1,858,512 | |
XPO Logistics, Inc. (a) | 211,695 | 11,312,981 | |
81,503,334 | |||
Trading Companies & Distributors - 1.1% | |||
Air Lease Corp. Class A | 76,100 | 2,862,121 | |
Alta Equipment Group, Inc. (a) | 654,824 | 7,052,454 | |
Applied Industrial Technologies, Inc. | 32,156 | 3,325,252 | |
BlueLinx Corp. (a) | 77,408 | 6,398,545 | |
Boise Cascade Co. | 25,742 | 1,990,371 | |
Custom Truck One Source, Inc. Class A (a)(b) | 894,566 | 5,331,613 | |
EVI Industries, Inc. (a)(b) | 316,770 | 3,433,787 | |
GATX Corp. (b) | 42,650 | 4,604,068 | |
H&E Equipment Services, Inc. | 65,139 | 2,322,205 | |
Hardwoods Distribution, Inc. | 66,409 | 1,574,557 | |
Herc Holdings, Inc. | 73,920 | 8,664,902 | |
MSC Industrial Direct Co., Inc. Class A | 43,585 | 3,701,674 | |
SiteOne Landscape Supply, Inc. (a) | 67,318 | 9,038,788 | |
Triton International Ltd. (b) | 155,212 | 9,897,869 | |
Univar Solutions, Inc. (a) | 183,124 | 5,625,569 | |
Watsco, Inc. (b) | 21,615 | 5,525,442 | |
WESCO International, Inc. (a) | 117,575 | 14,765,069 | |
96,114,286 | |||
TOTAL INDUSTRIALS | 1,422,635,795 | ||
INFORMATION TECHNOLOGY - 12.9% | |||
Communications Equipment - 0.5% | |||
Cambium Networks Corp. (a) | 25,088 | 358,508 | |
Ciena Corp. (a) | 75,940 | 3,859,271 | |
CommScope Holding Co., Inc. (a) | 405,033 | 3,041,798 | |
Digi International, Inc. (a) | 17,851 | 394,507 | |
F5, Inc. (a) | 56,405 | 9,196,271 | |
Juniper Networks, Inc. | 212,829 | 6,529,594 | |
Lantronix, Inc. (a) | 1,010,210 | 5,687,482 | |
Lumentum Holdings, Inc. (a) | 99,210 | 8,539,997 | |
NetScout Systems, Inc. (a) | 48,351 | 1,659,890 | |
Radware Ltd. (a) | 77,927 | 1,880,379 | |
Sierra Wireless, Inc. (a) | 143,114 | 3,175,700 | |
44,323,397 | |||
Electronic Equipment & Components - 2.2% | |||
Arlo Technologies, Inc. (a) | 134,434 | 951,793 | |
Arrow Electronics, Inc. (a) | 93,765 | 11,312,747 | |
Avnet, Inc. | 340,739 | 16,508,805 | |
Badger Meter, Inc. (b) | 19,144 | 1,515,056 | |
Belden, Inc. | 221,152 | 12,733,932 | |
Cognex Corp. | 262,761 | 12,722,888 | |
CTS Corp. (b) | 21,091 | 857,771 | |
ePlus, Inc. (a) | 148,623 | 8,432,869 | |
Fabrinet (a) | 24,228 | 2,104,686 | |
Flex Ltd. (a) | 240,003 | 4,096,851 | |
Identiv, Inc. (a)(b) | 1,047,014 | 13,391,309 | |
Insight Enterprises, Inc. (a) | 71,139 | 7,029,956 | |
IPG Photonics Corp. (a) | 23,377 | 2,466,040 | |
Jabil, Inc. | 130,900 | 8,052,968 | |
Littelfuse, Inc. | 19,713 | 5,326,453 | |
Methode Electronics, Inc. Class A | 67,400 | 3,036,370 | |
Napco Security Technologies, Inc. (b) | 18,982 | 372,237 | |
National Instruments Corp. | 86,316 | 3,048,681 | |
Novanta, Inc. (a) | 45,136 | 5,549,923 | |
Par Technology Corp. (a)(b) | 182,519 | 6,859,064 | |
Powerfleet, Inc. (a) | 1,306,697 | 3,096,872 | |
Rogers Corp. (a) | 12,259 | 3,253,293 | |
Sanmina Corp. (a) | 132,734 | 5,825,695 | |
ScanSource, Inc. (a) | 71,700 | 2,777,658 | |
TD SYNNEX Corp. | 193,813 | 20,127,480 | |
Trimble, Inc. (a) | 219,149 | 14,913,089 | |
TTM Technologies, Inc. (a) | 200,000 | 2,858,000 | |
Vishay Intertechnology, Inc. | 145,800 | 2,980,152 | |
Vontier Corp. | 251,965 | 6,757,701 | |
Zebra Technologies Corp. Class A (a) | 8,551 | 2,891,863 | |
191,852,202 | |||
IT Services - 3.1% | |||
Amdocs Ltd. | 169,762 | 14,750,620 | |
Broadridge Financial Solutions, Inc. | 77,719 | 11,364,072 | |
Cass Information Systems, Inc. | 7,702 | 262,792 | |
Computer Services, Inc. | 404,493 | 16,584,213 | |
Concentrix Corp. | 75,946 | 11,763,276 | |
CSG Systems International, Inc. | 21,367 | 1,328,814 | |
Digitalocean Holdings, Inc. (a)(b) | 58,373 | 2,851,521 | |
DXC Technology Co. (a) | 174,523 | 6,146,700 | |
Euronet Worldwide, Inc. (a) | 221,493 | 26,836,092 | |
EVERTEC, Inc. (b) | 89,911 | 3,411,223 | |
EVO Payments, Inc. Class A (a) | 31,039 | 715,449 | |
ExlService Holdings, Inc. (a) | 21,797 | 3,099,315 | |
Fidelity National Information Services, Inc. | 63,183 | 6,602,624 | |
Flywire Corp. (a) | 154,504 | 2,983,472 | |
Gartner, Inc. (a) | 20,937 | 5,493,869 | |
Genpact Ltd. | 223,426 | 9,913,412 | |
Globant SA (a) | 17,056 | 3,232,283 | |
GoDaddy, Inc. (a) | 152,129 | 11,417,281 | |
Hackett Group, Inc. | 17,549 | 359,579 | |
i3 Verticals, Inc. Class A (a)(b) | 196,396 | 4,579,955 | |
International Money Express, Inc. (a) | 476,713 | 9,829,822 | |
Jack Henry & Associates, Inc. | 96,507 | 18,154,897 | |
Maximus, Inc. | 51,437 | 3,337,747 | |
MongoDB, Inc. Class A (a) | 27,070 | 6,419,651 | |
Okta, Inc. (a) | 40,276 | 3,344,922 | |
Perficient, Inc. (a) | 21,558 | 2,110,744 | |
Rackspace Technology, Inc. (a)(b) | 468,843 | 4,327,421 | |
Shift4 Payments, Inc. (a)(b) | 91,535 | 4,178,573 | |
SolarWinds, Inc. | 57,316 | 667,158 | |
SS&C Technologies Holdings, Inc. | 233,955 | 14,970,780 | |
The Western Union Co. | 300,169 | 5,445,066 | |
Ttec Holdings, Inc. | 36,452 | 2,458,323 | |
Twilio, Inc. Class A (a) | 78,035 | 8,206,941 | |
Unisys Corp. (a) | 1,645,296 | 19,628,381 | |
WEX, Inc. (a) | 103,753 | 17,667,061 | |
Wix.com Ltd. (a) | 33,297 | 2,098,044 | |
WNS Holdings Ltd. sponsored ADR (a) | 90,371 | 6,576,298 | |
273,118,391 | |||
Semiconductors & Semiconductor Equipment - 2.2% | �� | ||
Allegro MicroSystems LLC (a) | 218,923 | 5,637,267 | |
Amkor Technology, Inc. (b) | 456,617 | 9,333,251 | |
Cirrus Logic, Inc. (a) | 13,100 | 1,068,174 | |
CMC Materials, Inc. | 63,299 | 11,200,125 | |
CyberOptics Corp. (a) | 33,186 | 1,485,074 | |
Diodes, Inc. (a) | 39,000 | 3,003,390 | |
Entegris, Inc. | 93,208 | 10,342,360 | |
GlobalFoundries, Inc. (b) | 248,709 | 14,845,440 | |
Kulicke & Soffa Industries, Inc. (b) | 126,204 | 6,836,471 | |
Lattice Semiconductor Corp. (a) | 201,501 | 10,482,082 | |
MACOM Technology Solutions Holdings, Inc. (a) | 153,370 | 8,360,199 | |
Monolithic Power Systems, Inc. | 10,650 | 4,796,654 | |
NVE Corp. (b) | 3,163 | 156,442 | |
onsemi (a) | 747,293 | 45,345,739 | |
Power Integrations, Inc. (b) | 205,970 | 17,379,749 | |
Qorvo, Inc. (a) | 44,957 | 5,023,945 | |
Semtech Corp. (a) | 150,187 | 9,625,485 | |
Silicon Laboratories, Inc. (a) | 47,177 | 7,036,921 | |
SMART Global Holdings, Inc. (a)(b) | 178,223 | 4,393,197 | |
SolarEdge Technologies, Inc. (a) | 10,400 | 2,837,016 | |
Synaptics, Inc. (a) | 30,505 | 4,518,401 | |
Ultra Clean Holdings, Inc. (a) | 106,165 | 3,562,897 | |
Universal Display Corp. | 28,376 | 3,584,173 | |
Wolfspeed, Inc. (a)(b) | 33,690 | 2,534,499 | |
193,388,951 | |||
Software - 4.5% | |||
8x8, Inc. (a) | 929,846 | 6,741,384 | |
A10 Networks, Inc. | 294,528 | 4,538,676 | |
ACI Worldwide, Inc. (a) | 852,131 | 22,700,770 | |
American Software, Inc. Class A | 20,595 | 352,175 | |
Anaplan, Inc. (a) | 123,227 | 8,083,691 | |
Aspen Technology, Inc. (a) | 35,357 | 6,841,226 | |
Black Knight, Inc. (a) | 362,302 | 24,603,929 | |
Blackbaud, Inc. (a)(b) | 48,300 | 3,074,295 | |
Cerence, Inc. (a)(b) | 43,531 | 1,382,545 | |
Ceridian HCM Holding, Inc. (a) | 45,300 | 2,550,390 | |
Check Point Software Technologies Ltd. (a) | 58,507 | 7,318,056 | |
Clearwater Analytics Holdings, Inc. (b) | 385,394 | 5,437,909 | |
CommVault Systems, Inc. (a) | 139,240 | 8,495,032 | |
Consensus Cloud Solutions, Inc. (a)(b) | 108,097 | 5,191,899 | |
Coupa Software, Inc. (a) | 5,600 | 385,224 | |
Datto Holding Corp. (a)(b) | 221,506 | 7,777,076 | |
Descartes Systems Group, Inc. (a) | 32,250 | 1,914,038 | |
Digital Turbine, Inc. (a) | 388,057 | 9,868,290 | |
DocuSign, Inc. (a) | 64,973 | 5,451,884 | |
Dolby Laboratories, Inc. Class A | 42,739 | 3,317,401 | |
Domo, Inc. Class B (a) | 422,878 | 13,481,351 | |
Dynatrace, Inc. (a) | 258,071 | 9,721,535 | |
E2open Parent Holdings, Inc. (a)(b) | 203,590 | 1,645,007 | |
Elastic NV (a) | 33,300 | 2,052,945 | |
Five9, Inc. (a) | 47,130 | 4,557,942 | |
Freshworks, Inc. (b) | 239,596 | 3,776,033 | |
Guidewire Software, Inc. (a) | 97,528 | 7,796,388 | |
HubSpot, Inc. (a) | 20,553 | 6,940,543 | |
InterDigital, Inc. | 76,245 | 4,978,036 | |
Kaleyra, Inc. (a)(b) | 769,993 | 2,710,375 | |
KnowBe4, Inc. (a) | 291,673 | 5,185,946 | |
LivePerson, Inc. (a) | 203,584 | 3,416,140 | |
Mandiant, Inc. (a) | 221,433 | 4,882,598 | |
Manhattan Associates, Inc. (a) | 187,699 | 22,698,440 | |
Micro Focus International PLC | 1,969,796 | 9,272,805 | |
Momentive Global, Inc. (a) | 814,758 | 9,923,752 | |
Monday.com Ltd. (b) | 105,457 | 11,973,588 | |
N-able, Inc. (a)(b) | 854,845 | 8,548,450 | |
nCino, Inc. (a)(b) | 172,250 | 5,627,408 | |
NCR Corp. (a) | 428,264 | 14,856,478 | |
NortonLifeLock, Inc. | 328,048 | 7,984,688 | |
Paycor HCM, Inc. (b) | 103,880 | 2,547,138 | |
Paylocity Holding Corp. (a) | 49,664 | 8,684,247 | |
PTC, Inc. (a) | 102,700 | 11,967,631 | |
Q2 Holdings, Inc. (a)(b) | 143,651 | 7,574,717 | |
Qualys, Inc. (a) | 54,259 | 7,090,566 | |
Rapid7, Inc. (a) | 37,200 | 2,636,364 | |
Samsara, Inc. (b) | 249,660 | 2,808,675 | |
Smartsheet, Inc. (a) | 257,744 | 9,188,574 | |
Sumo Logic, Inc. (a) | 419,879 | 3,405,219 | |
Tenable Holdings, Inc. (a) | 164,508 | 8,274,752 | |
The Trade Desk, Inc. (a) | 25,006 | 1,301,562 | |
Tyler Technologies, Inc. (a) | 31,820 | 11,322,192 | |
Varonis Systems, Inc. (a) | 160,004 | 5,291,332 | |
Workday, Inc. Class A (a) | 5,907 | 923,264 | |
Workiva, Inc. (a) | 16,100 | 1,175,461 | |
Zendesk, Inc. (a) | 176,293 | 16,121,995 | |
398,370,027 | |||
Technology Hardware, Storage & Peripherals - 0.4% | |||
3D Systems Corp. (a)(b) | 83,598 | 903,694 | |
Avid Technology, Inc. (a) | 413,550 | 12,112,880 | |
Immersion Corp. (a)(b) | 895,945 | 4,981,454 | |
NetApp, Inc. | 31,242 | 2,247,862 | |
Seagate Technology Holdings PLC | 83,100 | 7,036,077 | |
Stratasys Ltd. (a)(b) | 175,044 | 3,490,377 | |
Western Digital Corp. (a) | 89,946 | 5,458,823 | |
Xerox Holdings Corp. | 164,200 | 3,090,244 | |
39,321,411 | |||
TOTAL INFORMATION TECHNOLOGY | 1,140,374,379 | ||
MATERIALS - 4.5% | |||
Chemicals - 1.8% | |||
Albemarle Corp. U.S. | 15,053 | 3,920,102 | |
Ashland Global Holdings, Inc. | 32,766 | 3,506,617 | |
Avient Corp. | 34,921 | 1,718,113 | |
Axalta Coating Systems Ltd. (a) | 818,072 | 22,218,836 | |
Balchem Corp. | 21,194 | 2,637,169 | |
Cabot Corp. | 62,718 | 4,742,108 | |
Celanese Corp. Class A | 31,100 | 4,867,772 | |
CF Industries Holdings, Inc. | 140,373 | 13,864,641 | |
Chase Corp. | 4,886 | 394,740 | |
Eastman Chemical Co. | 31,600 | 3,481,056 | |
Ecovyst, Inc. | 155,526 | 1,597,252 | |
Element Solutions, Inc. | 85,800 | 1,826,682 | |
FMC Corp. | 73,691 | 9,033,043 | |
Huntsman Corp. | 385,410 | 13,971,113 | |
Ingevity Corp. (a) | 95,628 | 6,663,359 | |
Innospec, Inc. | 55,830 | 5,696,335 | |
Koppers Holdings, Inc. (b) | 78,800 | 2,135,480 | |
Minerals Technologies, Inc. | 46,612 | 3,088,511 | |
Olin Corp. | 234,552 | 15,431,176 | |
RPM International, Inc. | 25,417 | 2,239,238 | |
Schweitzer-Mauduit International, Inc. | 132,963 | 3,605,957 | |
Sensient Technologies Corp. | 27,506 | 2,405,125 | |
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR | 19,036 | 2,021,052 | |
The Chemours Co. LLC | 104,500 | 4,502,905 | |
The Mosaic Co. | 157,990 | 9,898,074 | |
The Scotts Miracle-Gro Co. Class A (b) | 28,666 | 2,712,377 | |
Trinseo PLC | 37,300 | 1,763,917 | |
Tronox Holdings PLC | 125,000 | 2,251,250 | |
Valvoline, Inc. (b) | 244,080 | 8,166,917 | |
160,360,917 | |||
Construction Materials - 0.1% | |||
Eagle Materials, Inc. (b) | 33,365 | 4,356,134 | |
Summit Materials, Inc. (a) | 117,800 | 3,217,118 | |
7,573,252 | |||
Containers & Packaging - 1.8% | |||
Aptargroup, Inc. | 170,932 | 18,305,108 | |
Avery Dennison Corp. | 16,373 | 2,825,325 | |
Berry Global Group, Inc. (a) | 820,393 | 47,853,524 | |
CCL Industries, Inc. Class B | 259,967 | 12,479,896 | |
Crown Holdings, Inc. | 151,081 | 15,778,900 | |
Graphic Packaging Holding Co. | 898,694 | 20,004,928 | |
Greif, Inc. Class A | 103,000 | 6,125,410 | |
O-I Glass, Inc. (a) | 177,200 | 2,914,940 | |
Ranpak Holdings Corp. (A Shares) (a) | 656,222 | 8,176,526 | |
Sealed Air Corp. | 98,279 | 6,110,988 | |
Silgan Holdings, Inc. | 133,500 | 5,848,635 | |
TriMas Corp. | 53,605 | 1,510,589 | |
WestRock Co. | 143,570 | 6,961,709 | |
154,896,478 | |||
Metals & Mining - 0.7% | |||
Alcoa Corp. | 33,800 | 2,086,136 | |
Allegheny Technologies, Inc. (a) | 302,590 | 8,321,225 | |
Carpenter Technology Corp. | 155,412 | 5,475,165 | |
Commercial Metals Co. | 79,600 | 3,162,508 | |
Ferroglobe PLC (a)(b) | 557,383 | 4,002,010 | |
Ferroglobe Representation & Warranty Insurance (a)(d) | 495,885 | 5 | |
Materion Corp. | 16,987 | 1,392,594 | |
Reliance Steel & Aluminum Co. (b) | 115,907 | 22,532,321 | |
Royal Gold, Inc. | 42,959 | 4,857,804 | |
Steel Dynamics, Inc. | 90,100 | 7,692,738 | |
59,522,506 | |||
Paper & Forest Products - 0.1% | |||
Louisiana-Pacific Corp. | 38,600 | 2,665,716 | |
Resolute Forest Products, Inc. (b) | 471,280 | 6,814,709 | |
West Fraser Timber Co. Ltd. (b) | 18,301 | 1,690,646 | |
11,171,071 | |||
TOTAL MATERIALS | 393,524,224 | ||
REAL ESTATE - 2.6% | |||
Equity Real Estate Investment Trusts (REITs) - 2.4% | |||
Alexanders, Inc. | 1,404 | 340,119 | |
American Campus Communities, Inc. | 127,074 | 8,259,810 | |
Americold Realty Trust | 47,662 | 1,319,761 | |
Apartment Income (REIT) Corp. | 93,100 | 4,176,466 | |
Apple Hospitality (REIT), Inc. | 133,300 | 2,227,443 | |
Brandywine Realty Trust (SBI) | 307,700 | 3,430,855 | |
Brixmor Property Group, Inc. | 140,900 | 3,435,142 | |
Broadstone Net Lease, Inc. | 331,290 | 7,006,784 | |
Camden Property Trust (SBI) | 73,973 | 10,614,386 | |
City Office REIT, Inc. | 261,000 | 3,638,340 | |
CorEnergy Infrastructure Trust, Inc. | 84,100 | 238,003 | |
Cousins Properties, Inc. | 350,546 | 12,111,364 | |
CubeSmart | 320,311 | 14,263,449 | |
EastGroup Properties, Inc. | 57,151 | 9,232,744 | |
Equity Commonwealth (a) | 378,830 | 10,323,118 | |
Franklin Street Properties Corp. | 275,093 | 1,243,420 | |
Gaming & Leisure Properties | 137,300 | 6,428,386 | |
Global Net Lease, Inc. | 190,184 | 2,751,962 | |
Hudson Pacific Properties, Inc. | 158,621 | 3,158,144 | |
Industrial Logistics Properties Trust | 121,900 | 1,860,194 | |
Iron Mountain, Inc. | 86,000 | 4,635,400 | |
LXP Industrial Trust (REIT) | 349,700 | 4,042,532 | |
Medical Properties Trust, Inc. | 388,900 | 7,225,762 | |
Mid-America Apartment Communities, Inc. | 49,437 | 8,948,097 | |
National Retail Properties, Inc. | 263,809 | 11,686,739 | |
Office Properties Income Trust | 132,285 | 2,818,993 | |
Omega Healthcare Investors, Inc. | 175,600 | 5,227,612 | |
Outfront Media, Inc. | 350,099 | 7,222,542 | |
Physicians Realty Trust | 570,009 | 10,573,667 | |
Piedmont Office Realty Trust, Inc. Class A | 308,600 | 4,548,764 | |
Plymouth Industrial REIT, Inc. | 133,700 | 2,715,447 | |
PS Business Parks, Inc. | 13,163 | 2,469,774 | |
Sabra Health Care REIT, Inc. | 317,800 | 4,461,912 | |
Safehold, Inc. (b) | 83,887 | 3,762,332 | |
Service Properties Trust | 254,722 | 1,612,390 | |
Spirit Realty Capital, Inc. | 51,675 | 2,169,833 | |
Stag Industrial, Inc. | 162,935 | 5,425,736 | |
Summit Hotel Properties, Inc. (a) | 198,800 | 1,737,512 | |
Sun Communities, Inc. | 15,808 | 2,594,567 | |
Tanger Factory Outlet Centers, Inc. | 158,900 | 2,782,339 | |
Uniti Group, Inc. | 502,820 | 5,701,979 | |
Urstadt Biddle Properties, Inc. Class A | 139,752 | 2,459,635 | |
210,883,454 | |||
Real Estate Management & Development - 0.2% | |||
Cushman & Wakefield PLC (a) | 475,266 | 8,873,216 | |
Howard Hughes Corp. (a) | 16,700 | 1,404,971 | |
Jones Lang LaSalle, Inc. (a) | 9,253 | 1,825,802 | |
Newmark Group, Inc. (b) | 566,449 | 6,270,590 | |
Realogy Holdings Corp. (a) | 167,466 | 2,073,229 | |
20,447,808 | |||
TOTAL REAL ESTATE | 231,331,262 | ||
UTILITIES - 1.1% | |||
Electric Utilities - 0.4% | |||
IDACORP, Inc. (b) | 168,780 | 18,400,396 | |
NRG Energy, Inc. | 220,200 | 10,138,008 | |
OGE Energy Corp. | 70,865 | 2,926,725 | |
Pinnacle West Capital Corp. | 46,758 | 3,630,759 | |
35,095,888 | |||
Gas Utilities - 0.3% | |||
Atmos Energy Corp. | 102,290 | 11,897,350 | |
National Fuel Gas Co. (b) | 64,400 | 4,735,332 | |
South Jersey Industries, Inc. | 86,300 | 3,007,555 | |
Southwest Gas Corp. | 88,612 | 8,252,436 | |
UGI Corp. | 78,300 | 3,346,542 | |
31,239,215 | |||
Independent Power and Renewable Electricity Producers - 0.4% | |||
Brookfield Renewable Corp. | 44,700 | 1,617,246 | |
Sunnova Energy International, Inc. (a)(b) | 77,200 | 1,544,000 | |
The AES Corp. | 209,331 | 4,613,655 | |
Vistra Corp. | 919,664 | 24,251,540 | |
32,026,441 | |||
Multi-Utilities - 0.0% | |||
CenterPoint Energy, Inc. | 101,565 | 3,255,158 | |
TOTAL UTILITIES | 101,616,702 | ||
TOTAL COMMON STOCKS (Cost $5,744,710,095) | 6,905,892,226 | ||
Equity Funds - 20.1% | |||
Shares | Value ($) | ||
Mid-Cap Blend Funds - 5.4% | |||
Fidelity SAI Small-Mid Cap 500 Index Fund (e) | 47,961,209 | 478,652,846 | |
Sector Funds - 1.0% | |||
Fidelity SAI Real Estate Index Fund (e) | 7,635,939 | 90,944,039 | |
Small Blend Funds - 5.1% | |||
Fidelity Small Cap Discovery Fund (e) | 2,276,003 | 61,361,028 | |
Fidelity Small Cap Index Fund (e) | 14,326,034 | 329,785,307 | |
PIMCO StocksPLUS Small Fund Institutional Class | 934,094 | 8,089,256 | |
Vulcan Value Partners Small Cap Fund | 3,239,823 | 48,273,362 | |
TOTAL SMALL BLEND FUNDS | 447,508,953 | ||
Small Growth Funds - 8.6% | |||
Fidelity Advisor Small Cap Growth Fund Class Z (e) | 17,441,899 | 425,233,506 | |
T. Rowe Price Institutional Small-Cap Stock Fund | 12,623,548 | 332,630,495 | |
TOTAL SMALL GROWTH FUNDS | 757,864,001 | ||
TOTAL EQUITY FUNDS (Cost $1,915,613,613) | 1,774,969,839 | ||
Money Market Funds - 9.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 0.82% (f) | 5,616,891 | 5,618,014 | |
Fidelity Securities Lending Cash Central Fund 0.82% (f)(g) | 688,996,822 | 689,065,722 | |
State Street Institutional U.S. Government Money Market Fund Premier Class 0.74% (h) | 126,577,462 | 126,577,462 | |
TOTAL MONEY MARKET FUNDS (Cost $821,261,198) | 821,261,198 | ||
TOTAL INVESTMENT IN SECURITIES - 107.7% (Cost $8,481,584,906) | 9,502,123,263 |
NET OTHER ASSETS (LIABILITIES) - (7.7)% (i) | (679,917,235) |
NET ASSETS - 100.0% | 8,822,206,028 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 2 | Jun 2022 | 186,190 | 4,326 | 4,326 |
CME E-mini S&P MidCap 400 Index Contracts (United States) | 3 | Jun 2022 | 753,960 | 7,412 | 7,412 |
TOTAL FUTURES CONTRACTS | 11,738 | ||||
The notional amount of futures purchased as a percentage of Net Assets is 0.0% |
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 $11,992,005 or 0.1% of net assets. |
(d) | Level 3 security |
(e) | Affiliated Fund |
(f) | 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. |
(g) | Investment made with cash collateral received from securities on loan. |
(h) | The rate quoted is the annualized seven-day yield of the fund at period end. |
(i) | Includes $51,500 of cash collateral to cover margin requirements for futures contracts. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | %ownership, end of period |
Fidelity Cash Central Fund 0.82% | 5,130,595 | 109,965,234 | 109,477,815 | 6,375 | - | - | 5,618,014 | 0.0% |
Fidelity Securities Lending Cash Central Fund 0.82% | 765,963,874 | 829,345,337 | 906,243,489 | 898,890 | - | - | 689,065,722 | 1.8% |
Total | 771,094,469 | 939,310,571 | 1,015,721,304 | 905,265 | - | - | 694,683,736 |
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 is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
Fidelity Advisor Small Cap Growth Fund Class Z | 487,996,936 | - | 1,849,289 | - | (666,157) | (60,247,984) | 425,233,506 |
Fidelity SAI Real Estate Index Fund | 93,540,259 | - | - | - | - | (2,596,220) | 90,944,039 |
Fidelity SAI Small-Mid Cap 500 Index Fund | 272,603,118 | 301,399,500 | 75,823,515 | - | (571,729) | (18,954,528) | 478,652,846 |
Fidelity Small Cap Discovery Fund | 66,095,114 | - | - | - | - | (4,734,086) | 61,361,028 |
Fidelity Small Cap Index Fund | 371,280,266 | 250,000,000 | 265,313,368 | - | 20,638,747 | (46,820,338) | 329,785,307 |
1,291,515,693 | 551,399,500 | 342,986,172 | - | 19,400,861 | (133,353,156) | 1,385,976,726 |
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. Securities 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. 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 inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted 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)
Valuation techniques used to value 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 any 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.
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 any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy. If an unaffiliated open-end mutual fund's NAV 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.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
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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