UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-2546
Fidelity Commonwealth Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Marc Bryant, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | November 30 |
Date of reporting period: | May 31, 2017 |
Item 1.
Reports to Stockholders
Fidelity® Nasdaq Composite Index® Tracking Stock Semi-Annual Report May 31, 2017 |
Contents
Board Approval of Investment Advisory Contracts and Management Fees | |
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-FIDELITY to request a free copy of the proxy voting guidelines.
Nasdaq®, OMX®, NASDAQ OMX®, Nasdaq Composite®, and The Nasdaq Stock Market®, Inc. are registered trademarks of The NASDAQ OMXGroup, Inc. (which with its Affiliates are the Corporations) and are licensed for use by Fidelity. The product has not been passed on by the Corporations as to its legality or suitability. The product is not issued, endorsed or sold by the Corporations. The Corporations make no warranties and bear no liability with respect to shares of the product.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2017 FMR LLC. All rights reserved.
On or about June 23, 2017 there were changes to i) the fund’s transfer agent and custodian and ii) the size of a creation unit for purchases and redemptions of shares of the fund. Please see the fund Prospectus for further information.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Premium/Discount Analysis (Unaudited)
Shares of Fidelity® Nasdaq Composite Index® Tracking Stock (the fund) are listed on The Nasdaq Stock Market® and can be bought and sold on the secondary market at market prices. Although the market price is expected to approximate the fund's NAV, it is possible that the market price and NAV will vary significantly. The closing market price is the daily closing price as reported on The Nasdaq Stock Market. Premiums or discounts are the differences (expressed as a basis point differential with 1 basis point equaling 1/100 of 1%) between the fund's NAV and closing market price. A premium indicates that the closing market price is trading above the NAV. A discount indicates that the closing market price is trading below the NAV. A discrepancy may exist with respect to the timing of when the NAV is calculated and the determination of the closing market price. The chart below presents information about the differences between the fund's daily closing market price and the fund's NAV.
Period Ended May 31, 2017
From June 1, 2012 to May 31, 2017 | Closing Price Below NAV | Closing Price Above or Equal to NAV | ||
Basis Point Differential | Number of Days | % of Total Days | Number of Days | % of Total Days |
0 - <25 | 383 | 30.45% | 734 | 58.35% |
25 - <50 | 45 | 3.58% | 70 | 5.56% |
50 - <75 | 10 | 0.79% | 2 | 0.16% |
75 - <100 | 8 | 0.63% | 2 | 0.16% |
100 or above | 3 | 0.24% | 1 | 0.08% |
Total | 449 | 35.69% | 809 | 64.31% |
Investment Summary (Unaudited)
Top Ten Stocks as of May 31, 2017
% of fund's net assets | % of fund's net assets 6 months ago | |
Apple, Inc. | 8.6 | 7.4 |
Microsoft Corp. | 5.8 | 5.8 |
Amazon.com, Inc. | 4.9 | 4.4 |
Facebook, Inc. Class A | 3.8 | 3.4 |
Alphabet, Inc. Class C | 3.6 | 3.3 |
Alphabet, Inc. Class A | 3.2 | 2.9 |
Comcast Corp. Class A | 2.1 | 2.1 |
Intel Corp. | 1.8 | 2.0 |
Cisco Systems, Inc. | 1.7 | 1.9 |
Amgen, Inc. | 1.2 | 1.4 |
36.7 |
Top Market Sectors as of May 31, 2017
% of fund's net assets | % of fund's net assets 6 months ago | |
Information Technology | 49.7 | 47.0 |
Consumer Discretionary | 19.0 | 19.1 |
Health Care | 12.0 | 13.2 |
Financials | 6.5 | 7.5 |
Consumer Staples | 4.9 | 5.2 |
Industrials | 4.3 | 4.7 |
Real Estate | 1.1 | 0.8 |
Telecommunication Services | 1.0 | 1.1 |
Energy | 0.5 | 0.6 |
Materials | 0.5 | 0.5 |
Asset Allocation (% of fund's net assets)
As of May 31, 2017 * | ||
Stocks and Equity Futures | 100.0% |
* Foreign investments - 8.0%
As of November 30, 2016 * | ||
Stocks | 99.8% | |
Short-Term Investments and Net Other Assets (Liabilities) | 0.2% |
* Foreign investments - 7.8%
Investments May 31, 2017 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 99.6% | |||
Shares | Value | ||
CONSUMER DISCRETIONARY - 19.0% | |||
Auto Components - 0.2% | |||
Dorman Products, Inc. (a)(b) | 4,521 | $377,051 | |
Fox Factory Holding Corp. (a) | 4,962 | 163,002 | |
Gentex Corp. | 36,164 | 686,393 | |
Gentherm, Inc. (a) | 4,474 | 168,670 | |
Kandi Technolgies, Inc. (a)(b) | 8,308 | 34,478 | |
Motorcar Parts of America, Inc. (a) | 2,175 | 63,227 | |
Shiloh Industries, Inc. (a) | 2,597 | 30,385 | |
SORL Auto Parts, Inc. (a)(b) | 2,304 | 20,091 | |
Strattec Security Corp. | 457 | 16,246 | |
The Goodyear Tire & Rubber Co. | 32,146 | 1,035,744 | |
VOXX International Corp. (a) | 3,043 | 17,649 | |
Workhorse Group, Inc. (a)(b) | 3,166 | 11,144 | |
2,624,080 | |||
Automobiles - 0.5% | |||
Tesla, Inc. (a)(b) | 19,166 | 6,535,798 | |
Distributors - 0.2% | |||
Core-Mark Holding Co., Inc. | 6,096 | 207,569 | |
Fenix Parts, Inc. (a)(b) | 3,479 | 4,940 | |
LKQ Corp. (a) | 39,077 | 1,230,535 | |
Pool Corp. | 5,198 | 619,238 | |
Weyco Group, Inc. | 1,151 | 31,457 | |
2,093,739 | |||
Diversified Consumer Services - 0.1% | |||
American Public Education, Inc. (a) | 2,554 | 56,188 | |
Ascent Capital Group, Inc. (a) | 1,622 | 22,335 | |
Capella Education Co. | 1,569 | 135,797 | |
Career Education Corp. (a) | 8,340 | 78,730 | |
Collectors Universe, Inc. | 1,634 | 40,932 | |
Grand Canyon Education, Inc. (a) | 5,990 | 469,616 | |
Houghton Mifflin Harcourt Co. (a) | 16,280 | 201,058 | |
Laureate Education, Inc. Class A | 2,463 | 41,181 | |
Liberty Tax, Inc. | 2,167 | 30,555 | |
National American University Holdings, Inc. | 49 | 113 | |
Strayer Education, Inc. | 1,479 | 130,818 | |
Tarena International, Inc. ADR (b) | 3,798 | 65,060 | |
1,272,383 | |||
Hotels, Restaurants & Leisure - 2.6% | |||
Amaya, Inc. (a) | 18,683 | 324,050 | |
Bagger Daves Burger Tavern, Inc. | 4,573 | 782 | |
BJ's Restaurants, Inc. (a) | 3,099 | 138,835 | |
Bloomin' Brands, Inc. | 13,888 | 278,177 | |
Bob Evans Farms, Inc. | 2,419 | 170,322 | |
Bojangles', Inc. (a)(b) | 4,220 | 73,850 | |
Bravo Brio Restaurant Group, Inc. (a)(b) | 1,622 | 7,623 | |
Buffalo Wild Wings, Inc. (a) | 2,361 | 339,276 | |
Caesars Acquisition Co. (a) | 18,496 | 326,454 | |
Caesars Entertainment Corp. (a)(b) | 19,227 | 210,536 | |
Carrols Restaurant Group, Inc. (a) | 5,412 | 64,132 | |
Century Casinos, Inc. (a) | 3,431 | 26,796 | |
China Lodging Group Ltd. ADR (a) | 4,022 | 307,281 | |
Churchill Downs, Inc. | 2,122 | 355,753 | |
Chuy's Holdings, Inc. (a)(b) | 2,018 | 54,284 | |
Cracker Barrel Old Country Store, Inc. (b) | 3,114 | 519,446 | |
Dave & Buster's Entertainment, Inc. (a) | 5,469 | 364,782 | |
Del Frisco's Restaurant Group, Inc. (a) | 2,609 | 44,353 | |
Del Taco Restaurants, Inc. (a)(b) | 4,475 | 57,414 | |
Denny's Corp. (a) | 9,021 | 107,350 | |
Diversified Restaurant Holdings, Inc. (a) | 5,893 | 18,622 | |
Dunkin' Brands Group, Inc. | 11,638 | 680,939 | |
El Pollo Loco Holdings, Inc. (a)(b) | 4,420 | 60,333 | |
Eldorado Resorts, Inc. (a)(b) | 10,682 | 221,652 | |
Empire Resorts, Inc. (a)(b) | 4,670 | 114,182 | |
Fiesta Restaurant Group, Inc. (a) | 3,486 | 76,866 | |
Fogo de Chao, Inc. (a) | 10,761 | 147,426 | |
Golden Entertainment, Inc. | 3,508 | 58,268 | |
Habit Restaurants, Inc. Class A (a)(b) | 1,968 | 36,506 | |
ILG, Inc. | 16,173 | 435,701 | |
International Speedway Corp. Class A | 3,493 | 123,303 | |
Jack in the Box, Inc. | 4,120 | 439,110 | |
Jamba, Inc. (a)(b) | 1,716 | 12,098 | |
Kona Grill, Inc. (a)(b) | 1,328 | 5,312 | |
Lindblad Expeditions Holdings (a) | 15,338 | 146,018 | |
Marriott International, Inc. Class A | 48,176 | 5,186,146 | |
Melco Crown Entertainment Ltd. sponsored ADR | 22,322 | 504,031 | |
Monarch Casino & Resort, Inc. (a) | 2,646 | 79,777 | |
Nathan's Famous, Inc. (a) | 713 | 44,848 | |
Noodles & Co. (a)(b) | 3,828 | 18,566 | |
Norwegian Cruise Line Holdings Ltd. (a) | 29,034 | 1,450,829 | |
Panera Bread Co. Class A (a) | 2,891 | 909,191 | |
Papa John's International, Inc. (b) | 4,726 | 380,774 | |
Papa Murphy's Holdings, Inc. (a)(b) | 2,700 | 13,122 | |
Peak Resorts, Inc. | 2,862 | 13,165 | |
Penn National Gaming, Inc. (a) | 10,541 | 203,758 | |
Pinnacle Entertainment, Inc. (a) | 7,156 | 140,186 | |
Playa Hotels & Resorts NV (a) | 11,926 | 124,746 | |
Potbelly Corp. (a)(b) | 3,440 | 39,560 | |
RCI Hospitality Holdings, Inc. | 1,770 | 36,834 | |
Red Robin Gourmet Burgers, Inc. (a) | 1,818 | 131,032 | |
Red Rock Resorts, Inc. | 4,900 | 115,836 | |
Ruth's Hospitality Group, Inc. | 4,716 | 101,866 | |
Scientific Games Corp. Class A (a)(b) | 11,324 | 262,717 | |
Sonic Corp. (b) | 5,978 | 174,677 | |
Starbucks Corp. | 185,690 | 11,811,741 | |
Texas Roadhouse, Inc. Class A | 8,976 | 439,106 | |
The Cheesecake Factory, Inc. (b) | 5,885 | 347,097 | |
The ONE Group Hospitality, Inc. (a)(b) | 3,405 | 7,423 | |
Tuniu Corp. Class A sponsored ADR (a) | 4,823 | 39,500 | |
Wendy's Co. | 33,443 | 540,773 | |
Wingstop, Inc. (b) | 3,430 | 97,789 | |
Wynn Resorts Ltd. | 13,045 | 1,678,892 | |
31,241,814 | |||
Household Durables - 0.2% | |||
AV Homes, Inc. (a)(b) | 3,161 | 49,549 | |
Bassett Furniture Industries, Inc. | 1,444 | 42,887 | |
Cavco Industries, Inc. (a) | 1,140 | 125,685 | |
Flexsteel Industries, Inc. | 1,038 | 52,575 | |
Garmin Ltd. (b) | 23,913 | 1,244,433 | |
GoPro, Inc. Class A (a)(b) | 13,249 | 108,907 | |
Green Brick Partners, Inc. (a)(b) | 17,795 | 176,171 | |
Helen of Troy Ltd. (a) | 3,535 | 321,685 | |
Hooker Furniture Corp. | 1,588 | 68,125 | |
iRobot Corp. (a)(b) | 3,435 | 318,493 | |
LGI Homes, Inc. (a)(b) | 2,653 | 85,957 | |
Lifetime Brands, Inc. | 1,764 | 32,458 | |
Live Ventures, Inc. (a) | 357 | 3,602 | |
Nova LifeStyle, Inc. (a) | 3,975 | 5,366 | |
SodaStream International Ltd. (a)(b) | 2,648 | 140,291 | |
Universal Electronics, Inc. (a) | 1,868 | 120,673 | |
Vuzix Corp. (a)(b) | 2,464 | 14,168 | |
Zagg, Inc. (a) | 4,661 | 38,919 | |
2,949,944 | |||
Internet & Direct Marketing Retail - 7.9% | |||
1-800-FLOWERS.com, Inc. Class A (a) | 5,503 | 55,030 | |
Amazon.com, Inc. (a) | 59,077 | 58,759,166 | |
CafePress, Inc. (a) | 7,139 | 18,204 | |
Cnova NV (a) | 51,096 | 281,028 | |
Ctrip.com International Ltd. ADR (a)(b) | 53,662 | 2,932,628 | |
Duluth Holdings, Inc. (a)(b) | 3,829 | 74,742 | |
Etsy, Inc. (a)(b) | 14,525 | 194,780 | |
EVINE Live, Inc. (a) | 11,000 | 13,860 | |
Expedia, Inc. | 17,535 | 2,521,182 | |
FTD Companies, Inc. (a) | 3,601 | 62,369 | |
Gaia, Inc. Class A (a) | 2,474 | 26,967 | |
Groupon, Inc. (a)(b) | 72,422 | 217,990 | |
HSN, Inc. | 6,739 | 223,398 | |
JD.com, Inc. sponsored ADR (a) | 117,429 | 4,700,683 | |
Lands' End, Inc. (a)(b) | 4,117 | 72,459 | |
Liberty Expedia Holdings, Inc. | 7,407 | 386,423 | |
Liberty Interactive Corp.: | |||
(Venture Group) Series A (a) | 10,700 | 576,623 | |
QVC Group Series A (a) | 58,950 | 1,382,967 | |
Liberty TripAdvisor Holdings, Inc. (a) | 9,626 | 114,068 | |
MakeMyTrip Ltd. (a)(b) | 6,434 | 205,888 | |
Netflix, Inc. (a) | 55,004 | 8,969,502 | |
NutriSystem, Inc. | 3,801 | 197,842 | |
Overstock.com, Inc. (a) | 3,147 | 44,215 | |
PetMed Express, Inc. (b) | 2,697 | 94,638 | |
Priceline Group, Inc. (a) | 6,297 | 11,820,036 | |
Shutterfly, Inc. (a) | 4,374 | 216,469 | |
TripAdvisor, Inc. (a)(b) | 17,250 | 664,298 | |
Trivago NV ADR (b) | 3,191 | 60,055 | |
U.S. Auto Parts Network, Inc. (a) | 5,205 | 15,927 | |
94,903,437 | |||
Leisure Products - 0.3% | |||
American Outdoor Brands Corp. (a)(b) | 7,119 | 161,245 | |
Black Diamond, Inc. (a) | 6,228 | 37,057 | |
Hasbro, Inc. | 15,883 | 1,671,845 | |
JAKKS Pacific, Inc. (a) | 2,905 | 12,201 | |
Johnson Outdoors, Inc. Class A | 1,200 | 51,528 | |
Malibu Boats, Inc. Class A (a) | 1,666 | 40,401 | |
Mattel, Inc. | 43,542 | 997,547 | |
MCBC Holdings, Inc. (a) | 2,763 | 53,132 | |
Summer Infant, Inc. (a) | 3,048 | 5,486 | |
3,030,442 | |||
Media - 5.4% | |||
AirMedia Group, Inc. ADR (a)(b) | 6,814 | 11,516 | |
AMC Networks, Inc. Class A (a) | 7,614 | 403,390 | |
Beasley Broadcast Group, Inc. Class A | 1,080 | 9,882 | |
Central European Media Enterprises Ltd. Class A (a)(b) | 19,658 | 76,666 | |
Charter Communications, Inc. Class A (a) | 34,512 | 11,925,622 | |
Cinedigm Corp. (a)(b) | 1,147 | 1,973 | |
Comcast Corp. Class A | 607,600 | 25,330,844 | |
Cumulus Media, Inc. Class A (a) | 3,799 | 2,162 | |
Daily Journal Corp. (a)(b) | 162 | 34,069 | |
Discovery Communications, Inc.: | |||
Class A (a)(b) | 19,114 | 506,521 | |
Class C (non-vtg.) (a) | 30,561 | 789,391 | |
DISH Network Corp. Class A (a) | 28,891 | 1,842,379 | |
Emmis Communications Corp. Class A (a) | 2,124 | 6,924 | |
Global Eagle Entertainment, Inc. (a)(b) | 10,058 | 31,079 | |
Hemisphere Media Group, Inc. (a)(b) | 16,092 | 181,035 | |
Liberty Broadband Corp.: | |||
Class A (a) | 3,292 | 290,519 | |
Class C (a) | 19,534 | 1,741,847 | |
Liberty Global PLC: | |||
Class A (a) | 32,307 | 987,948 | |
Class B (a) | 1,177 | 36,016 | |
Class C (a) | 81,634 | 2,426,162 | |
LiLAC Class A (a)(b) | 6,471 | 136,603 | |
LiLAC Class C (a)(b) | 15,363 | 322,008 | |
Liberty Media Corp.: | |||
Liberty Braves Class A (a) | 1,873 | 44,428 | |
Liberty Braves Class C (a) | 4,713 | 109,907 | |
Liberty Media Class A (a)(b) | 3,295 | 105,111 | |
Liberty Media Class C (a)(b) | 7,059 | 235,065 | |
Liberty SiriusXM Class A (a) | 13,746 | 572,796 | |
Liberty SiriusXM Class C (a) | 28,862 | 1,202,680 | |
Loral Space & Communications Ltd. (a) | 2,579 | 101,871 | |
MDC Partners, Inc. Class A | 6,176 | 51,261 | |
National CineMedia, Inc. | 7,955 | 57,833 | |
News Corp.: | |||
Class A | 49,453 | 661,681 | |
Class B | 26,080 | 357,296 | |
Nexstar Broadcasting Group, Inc. Class A (b) | 5,979 | 341,999 | |
Reading International, Inc. Class A (a) | 3,147 | 50,226 | |
Salem Communications Corp. Class A | 2,629 | 18,009 | |
Scholastic Corp. | 4,314 | 183,474 | |
Scripps Networks Interactive, Inc. Class A (b) | 12,125 | 802,918 | |
Sinclair Broadcast Group, Inc. Class A | 8,986 | 291,146 | |
Sirius XM Holdings, Inc. (b) | 606,142 | 3,182,246 | |
tronc, Inc. (a) | 4,774 | 53,564 | |
Twenty-First Century Fox, Inc.: | |||
Class A | 135,078 | 3,663,315 | |
Class B | 101,529 | 2,731,130 | |
Viacom, Inc.: | |||
Class A (b) | 6,386 | 245,222 | |
Class B (non-vtg.) | 44,259 | 1,539,771 | |
Videocon d2h Ltd. sponsored ADR (a) | 6,129 | 62,761 | |
VisionChina Media, Inc. ADR (a) | 436 | 990 | |
Wecast Network, Inc. (a)(b) | 5,526 | 14,589 | |
WPP PLC ADR (b) | 1,931 | 217,682 | |
63,993,527 | |||
Multiline Retail - 0.2% | |||
Dollar Tree, Inc. (a) | 30,021 | 2,332,632 | |
Fred's, Inc. Class A (b) | 5,060 | 69,626 | |
Ollie's Bargain Outlet Holdings, Inc. (a)(b) | 7,745 | 318,707 | |
Sears Holdings Corp. (a)(b) | 13,687 | 101,147 | |
The Bon-Ton Stores, Inc. (a)(b) | 1,667 | 817 | |
Tuesday Morning Corp. (a)(b) | 5,347 | 9,090 | |
2,832,019 | |||
Specialty Retail - 1.2% | |||
America's Car Mart, Inc. (a)(b) | 1,239 | 44,790 | |
Ascena Retail Group, Inc. (a)(b) | 24,670 | 43,666 | |
bebe stores, Inc. (a)(b) | 1,138 | 6,111 | |
Bed Bath & Beyond, Inc. | 19,261 | 662,771 | |
Big 5 Sporting Goods Corp. (b) | 3,387 | 47,079 | |
Citi Trends, Inc. | 2,009 | 36,664 | |
Conn's, Inc. (a)(b) | 4,819 | 82,405 | |
DavidsTea, Inc. (a)(b) | 3,546 | 21,808 | |
Destination Maternity Corp. (a) | 1,530 | 6,656 | |
Destination XL Group, Inc. (a)(b) | 7,359 | 17,662 | |
Finish Line, Inc. Class A | 5,391 | 76,067 | |
Five Below, Inc. (a)(b) | 6,869 | 352,380 | |
Francesca's Holdings Corp. (a) | 4,858 | 61,502 | |
Hibbett Sports, Inc. (a)(b) | 3,054 | 70,853 | |
Kirkland's, Inc. (a) | 2,354 | 21,304 | |
Michaels Companies, Inc. (a) | 26,471 | 511,684 | |
Monro Muffler Brake, Inc. (b) | 4,140 | 205,344 | |
O'Reilly Automotive, Inc. (a)(b) | 11,550 | 2,796,024 | |
Office Depot, Inc. | 68,420 | 349,626 | |
Perfumania Holdings, Inc. (a) | 735 | 1,080 | |
Rent-A-Center, Inc. (b) | 6,730 | 76,789 | |
Ross Stores, Inc. | 50,337 | 3,217,541 | |
Sears Hometown & Outlet Stores, Inc. (a) | 2,951 | 9,001 | |
Select Comfort Corp. (a)(b) | 5,611 | 161,597 | |
Shoe Carnival, Inc. | 2,309 | 47,219 | |
Sportsman's Warehouse Holdings, Inc. (a)(b) | 5,593 | 32,607 | |
Staples, Inc. | 83,613 | 759,206 | |
Stein Mart, Inc. (b) | 5,782 | 8,442 | |
The Children's Place Retail Stores, Inc. (b) | 2,417 | 261,519 | |
Tile Shop Holdings, Inc. (b) | 6,619 | 130,063 | |
Tractor Supply Co. | 16,724 | 922,329 | |
TravelCenters of America LLC (a) | 6,342 | 26,002 | |
Ulta Beauty, Inc. (a) | 7,957 | 2,425,612 | |
Urban Outfitters, Inc. (a)(b) | 15,197 | 286,767 | |
West Marine, Inc. | 2,909 | 28,595 | |
Winmark Corp. | 591 | 72,398 | |
Zumiez, Inc. (a)(b) | 3,298 | 46,997 | |
13,928,160 | |||
Textiles, Apparel & Luxury Goods - 0.2% | |||
Cherokee, Inc. (a) | 1,323 | 10,915 | |
Columbia Sportswear Co. | 8,930 | 484,720 | |
Crocs, Inc. (a) | 9,172 | 62,645 | |
Fossil Group, Inc. (a)(b) | 6,032 | 64,965 | |
G-III Apparel Group Ltd. (a)(b) | 5,750 | 112,528 | |
Iconix Brand Group, Inc. (a)(b) | 6,133 | 36,737 | |
Kingold Jewelry, Inc. (a)(b) | 6,469 | 11,321 | |
lululemon athletica, Inc. (a) | 16,221 | 782,988 | |
Perry Ellis International, Inc.(a) | 2,402 | 44,053 | |
Rocky Brands, Inc. | 1,402 | 19,979 | |
Sequential Brands Group, Inc. (a)(b) | 8,785 | 28,200 | |
Steven Madden Ltd. (a) | 8,054 | 316,120 | |
Vera Bradley, Inc. (a)(b) | 5,204 | 48,970 | |
2,024,141 | |||
TOTAL CONSUMER DISCRETIONARY | 227,429,484 | ||
CONSUMER STAPLES - 4.9% | |||
Beverages - 0.4% | |||
Coca-Cola Bottling Co. Consolidated (b) | 962 | 219,086 | |
Craft Brew Alliance, Inc. (a)(b) | 2,310 | 38,577 | |
MGP Ingredients, Inc. (b) | 2,314 | 118,500 | |
Monster Beverage Corp. (a) | 73,128 | 3,697,352 | |
National Beverage Corp. (b) | 5,988 | 574,549 | |
New Age Beverages Corp. | 2,633 | 15,113 | |
Primo Water Corp. (a) | 4,380 | 53,830 | |
4,717,007 | |||
Food & Staples Retailing - 2.1% | |||
Andersons, Inc. | 3,775 | 132,503 | |
Casey's General Stores, Inc. (b) | 5,048 | 587,537 | |
Chefs' Warehouse Holdings (a)(b) | 3,395 | 51,434 | |
Costco Wholesale Corp. | 55,933 | 10,091,991 | |
Ingles Markets, Inc. Class A | 1,977 | 72,358 | |
PriceSmart, Inc. | 3,969 | 350,264 | |
SpartanNash Co. | 4,949 | 147,480 | |
Sprouts Farmers Market LLC (a)(b) | 19,654 | 470,910 | |
United Natural Foods, Inc. (a)(b) | 6,529 | 260,768 | |
Village Super Market, Inc. Class A | 1,678 | 41,749 | |
Walgreens Boots Alliance, Inc. | 138,193 | 11,196,397 | |
Whole Foods Market, Inc. | 40,772 | 1,426,612 | |
24,830,003 | |||
Food Products - 2.4% | |||
Blue Buffalo Pet Products, Inc. (a)(b) | 25,235 | 592,770 | |
Bridgford Foods Corp. (a) | 2,420 | 33,735 | |
Cal-Maine Foods, Inc. (b) | 5,510 | 204,972 | |
Calavo Growers, Inc. (b) | 2,257 | 152,799 | |
Farmer Brothers Co. (a) | 2,450 | 73,500 | |
Freshpet, Inc. (a)(b) | 4,075 | 61,940 | |
Hostess Brands, Inc. Class A (a)(b) | 12,544 | 197,443 | |
Inventure Foods, Inc. (a)(b) | 2,460 | 10,455 | |
J&J Snack Foods Corp. | 2,463 | 320,436 | |
John B. Sanfilippo & Son, Inc. (b) | 1,178 | 76,299 | |
Lancaster Colony Corp. | 3,431 | 424,861 | |
Landec Corp. (a) | 3,485 | 48,790 | |
Limoneira Co. (b) | 1,620 | 29,857 | |
Mondelez International, Inc. | 196,464 | 9,153,258 | |
Origin Agritech Ltd. (a)(b) | 3,244 | 4,898 | |
Pilgrim's Pride Corp. (b) | 32,791 | 763,047 | |
Pingtan Marine Enterprise Ltd. (b) | 10,781 | 32,774 | |
Rocky Mountain Chocolate Factory, Inc. | 1,578 | 18,952 | |
Sanderson Farms, Inc. (b) | 2,910 | 345,417 | |
Seneca Foods Corp. Class A (a) | 1,244 | 38,315 | |
SkyPeople Fruit Juice, Inc. (a)(b) | 360 | 968 | |
Snyders-Lance, Inc. (b) | 12,321 | 452,797 | |
SunOpta, Inc. (a)(b) | 12,176 | 113,237 | |
The Hain Celestial Group, Inc. (a) | 13,259 | 463,137 | |
The Kraft Heinz Co. | 155,558 | 14,342,448 | |
27,957,105 | |||
Household Products - 0.0% | |||
Central Garden & Pet Co. (a)(b) | 1,140 | 34,109 | |
Central Garden & Pet Co. Class A (non-vtg.) (a) | 5,155 | 149,031 | |
WD-40 Co. (b) | 1,866 | 197,236 | |
380,376 | |||
Personal Products - 0.0% | |||
Inter Parfums, Inc. | 3,897 | 135,616 | |
LifeVantage Corp. (a)(b) | 1,864 | 7,437 | |
Mannatech, Inc. | 20 | 292 | |
Natural Health Trends Corp. (b) | 1,580 | 44,019 | |
Nutraceutical International Corp. | 1,395 | 58,241 | |
The Female Health Co. (a) | 2,905 | 3,399 | |
249,004 | |||
TOTAL CONSUMER STAPLES | 58,133,495 | ||
ENERGY - 0.5% | |||
Energy Equipment & Services - 0.1% | |||
Archrock Partners LP | 7,940 | 122,991 | |
CSI Compressco LP | 4,072 | 22,396 | |
Dawson Geophysical Co. (a) | 3,650 | 14,053 | |
Geospace Technologies Corp. (a)(b) | 1,576 | 23,624 | |
Gulf Island Fabrication, Inc. | 1,878 | 17,372 | |
Mammoth Energy Services, Inc. | 5,214 | 94,738 | |
Matrix Service Co. (a) | 3,387 | 27,604 | |
Mitcham Industries, Inc. (a) | 1,084 | 4,303 | |
Ocean Rig UDW, Inc. (United States) (a) | 19,119 | 3,824 | |
Patterson-UTI Energy, Inc. | 20,443 | 435,845 | |
PHI, Inc. (non-vtg.) (a) | 1,911 | 17,008 | |
Profire Energy, Inc. (a) | 9,575 | 13,884 | |
RigNet, Inc. (a) | 2,068 | 34,639 | |
Tesco Corp. (a) | 7,268 | 33,796 | |
866,077 | |||
Oil, Gas & Consumable Fuels - 0.4% | |||
Abraxas Petroleum Corp. (a) | 19,074 | 35,096 | |
Alliance Holdings GP, LP | 7,748 | 219,346 | |
Alliance Resource Partners LP | 9,416 | 202,444 | |
Amplify Energy Corp. (a) | 72 | 997 | |
Amplify Energy Corp. warrants 5/4/22 | 316 | 0 | |
Amyris, Inc. (a) | 27,164 | 7,035 | |
Approach Resources, Inc. (a)(b) | 9,002 | 22,865 | |
Blueknight Energy Partners LP | 5,303 | 36,856 | |
Calumet Specialty Products Partners LP (a) | 10,409 | 40,595 | |
Capital Product Partners LP | 16,687 | 55,568 | |
Carrizo Oil & Gas, Inc. (a)(b) | 8,596 | 188,596 | |
Centennial Resource Development, Inc. Class A (b) | 26,125 | 407,289 | |
Clean Energy Fuels Corp. (a)(b) | 17,696 | 41,409 | |
Diamondback Energy, Inc. (a) | 11,743 | 1,089,281 | |
Dorchester Minerals LP | 4,218 | 68,964 | |
Energy XXI Gulf Coast, Inc. (a) | 4,098 | 106,671 | |
EV Energy Partners LP (a) | 5,787 | 5,961 | |
Extraction Oil & Gas, Inc. (b) | 22,278 | 317,239 | |
Gevo, Inc. (a) | 1,491 | 1,057 | |
Golar LNG Ltd. (b) | 11,719 | 272,643 | |
Golar LNG Partners LP | 6,133 | 121,188 | |
Green Plains Partners LP | 2,707 | 50,486 | |
Green Plains, Inc. (b) | 4,578 | 97,740 | |
Gulfport Energy Corp. (a) | 22,893 | 328,515 | |
Hallador Energy Co. | 3,485 | 25,615 | |
Hongli Clean Energy Technologies Corp. (a)(b) | 225 | 1,042 | |
Isramco, Inc. (a)(b) | 250 | 26,688 | |
Legacy Reserves LP (a) | 8,143 | 16,449 | |
Lonestar Resources U.S., Inc. (a) | 2,032 | 9,022 | |
Martin Midstream Partners LP | 4,902 | 89,216 | |
Mid-Con Energy Partners LP (a) | 2,904 | 5,401 | |
Pacific Ethanol, Inc. (a) | 5,956 | 35,140 | |
PDC Energy, Inc. (a) | 8,070 | 400,756 | |
Penn Virginia Corp. (a) | 1,745 | 74,686 | |
PennTex Midstream Partners LP | 2,473 | 49,287 | |
Ramaco Resources, Inc. (b) | 3,804 | 23,889 | |
Renewable Energy Group, Inc. (a)(b) | 5,104 | 57,675 | |
Rex Energy Corp. (a) | 763 | 2,220 | |
StealthGas, Inc. (a) | 2,722 | 8,955 | |
Tellurian, Inc. (a)(b) | 25,438 | 279,564 | |
Torchlight Energy Resources, Inc. (a)(b) | 8,632 | 11,912 | |
TransGlobe Energy Corp. (a)(b) | 8,484 | 12,310 | |
U.S. Energy Corp. (a) | 568 | 432 | |
Ultra Petroleum Corp. (a) | 25,214 | 284,162 | |
Uranium Resources, Inc. (a) | 228 | 356 | |
Viper Energy Partners LP | 12,219 | 207,967 | |
Westmoreland Coal Co. (a) | 2,769 | 18,192 | |
5,358,777 | |||
TOTAL ENERGY | 6,224,854 | ||
FINANCIALS - 6.5% | |||
Banks - 3.0% | |||
1st Constitution Bancorp | 621 | 10,743 | |
1st Source Corp. | 3,172 | 144,485 | |
Access National Corp. | 3,286 | 91,975 | |
ACNB Corp. | 815 | 23,024 | |
Allegiance Bancshares, Inc. (a) | 1,767 | 68,471 | |
American National Bankshares, Inc. | 1,097 | 38,230 | |
American River Bankshares | 1,618 | 22,377 | |
Ameris Bancorp | 4,382 | 189,960 | |
Arrow Financial Corp. | 8,094 | 256,175 | |
Atlantic Capital Bancshares, Inc. (a) | 3,047 | 56,522 | |
BancFirst Corp. | 1,839 | 173,694 | |
Bancorp, Inc., Delaware (a) | 6,984 | 42,742 | |
Bank of Commerce Holdings | 1,138 | 12,347 | |
Bank of Marin Bancorp | 745 | 44,663 | |
Bank of South Carolina Corp. | 548 | 11,070 | |
Bank of the Ozarks, Inc. (b) | 15,395 | 680,459 | |
Bankwell Financial Group, Inc. | 905 | 28,082 | |
Banner Corp. | 4,167 | 223,726 | |
BCB Bancorp, Inc. | 2,162 | 33,943 | |
Blue Hills Bancorp, Inc. | 3,937 | 70,866 | |
BNC Bancorp | 6,288 | 198,386 | |
BOK Financial Corp. | 8,497 | 684,263 | |
Boston Private Financial Holdings, Inc. | 10,613 | 153,889 | |
Bridge Bancorp, Inc. | 2,110 | 70,158 | |
Brookline Bancorp, Inc., Delaware | 9,271 | 127,940 | |
Bryn Mawr Bank Corp. | 2,033 | 83,048 | |
Camden National Corp. | 2,079 | 83,576 | |
Capital Bank Financial Corp. Series A | 4,836 | 179,416 | |
Capital City Bank Group, Inc. | 2,221 | 41,666 | |
Capstar Financial Holdings, Inc. | 1,700 | 30,566 | |
Carolina Financial Corp. | 1,928 | 57,724 | |
Cathay General Bancorp | 10,104 | 358,692 | |
Centerstate Banks of Florida, Inc. | 5,913 | 142,149 | |
Central Valley Community Bancorp | 1,926 | 40,215 | |
Century Bancorp, Inc. Class A (non-vtg.) | 504 | 30,114 | |
Chemical Financial Corp. | 8,933 | 401,717 | |
Citizens & Northern Corp. | 1,724 | 38,428 | |
City Holding Co. | 1,778 | 112,174 | |
Civista Bancshares, Inc. | 1,433 | 28,230 | |
CNB Financial Corp., Pennsylvania | 2,211 | 46,365 | |
CoBiz, Inc. | 6,189 | 97,415 | |
Codorus Valley Bancorp, Inc. | 898 | 23,168 | |
Colony Bankcorp, Inc. | 1,127 | 15,215 | |
Columbia Banking Systems, Inc. | 7,424 | 272,535 | |
Commerce Bancshares, Inc. | 13,282 | 710,985 | |
Community Bank System, Inc. | 617 | 33,170 | |
Community Bankers Trust Corp. (a) | 4,824 | 39,557 | |
Community Financial Corp. | 343 | 12,005 | |
Community Trust Bancorp, Inc. | 2,316 | 96,114 | |
ConnectOne Bancorp, Inc. | 4,462 | 97,272 | |
County Bancorp, Inc. | 1,030 | 25,503 | |
CU Bancorp (a) | 2,290 | 82,440 | |
CVB Financial Corp. | 13,699 | 278,090 | |
DNB Financial Corp. | 643 | 20,447 | |
Eagle Bancorp, Inc. (a) | 4,214 | 240,409 | |
East West Bancorp, Inc. | 18,841 | 1,031,168 | |
Enterprise Bancorp, Inc. | 1,828 | 54,840 | |
Enterprise Financial Services Corp. | 2,744 | 110,034 | |
Equity Bancshares, Inc. (a) | 1,276 | 37,948 | |
Farmers Capital Bank Corp. | 1,109 | 42,364 | |
Farmers National Banc Corp. | 3,635 | 49,254 | |
Fidelity Southern Corp. | 3,892 | 83,250 | |
Fifth Third Bancorp | 96,344 | 2,287,207 | |
Financial Institutions, Inc. | 2,077 | 63,660 | |
First Bancorp, North Carolina | 2,500 | 69,400 | |
First Bancshares, Inc. | 902 | 25,211 | |
First Bank Hamilton New Jersey | 914 | 10,648 | |
First Busey Corp. | 4,561 | 129,487 | |
First Business Finance Services, Inc. | 1,302 | 29,751 | |
First Citizen Bancshares, Inc. | 1,383 | 458,326 | |
First Community Bancshares, Inc. | 2,173 | 55,412 | |
First Community Financial Partners, Inc. (a) | 3,247 | 40,588 | |
First Connecticut Bancorp, Inc. | 2,111 | 52,881 | |
First Financial Bancorp, Ohio | 8,539 | 213,902 | |
First Financial Bankshares, Inc. (b) | 8,346 | 319,235 | |
First Financial Corp., Indiana | 1,764 | 80,350 | |
First Financial Northwest, Inc. | 1,876 | 30,054 | |
First Foundation, Inc. (a) | 4,026 | 61,719 | |
First Hawaiian, Inc. | 17,814 | 490,954 | |
First Internet Bancorp | 1,138 | 29,360 | |
First Interstate Bancsystem, Inc. | 4,364 | 152,304 | |
First Merchants Corp. | 5,064 | 200,990 | |
First Mid-Illinois Bancshares, Inc. | 1,824 | 60,374 | |
First Midwest Bancorp, Inc., Delaware | 13,467 | 298,429 | |
First Northwest Bancorp (a) | 2,717 | 44,341 | |
First of Long Island Corp. | 2,511 | 68,174 | |
Flushing Financial Corp. | 3,701 | 102,814 | |
Fulton Financial Corp. | 21,763 | 380,853 | |
German American Bancorp, Inc. | 3,013 | 93,554 | |
Glacier Bancorp, Inc. | 9,819 | 316,761 | |
Great Southern Bancorp, Inc. | 1,678 | 82,138 | |
Green Bancorp, Inc. (a) | 4,439 | 84,563 | |
Grupo Financiero Galicia SA sponsored ADR (b) | 5,805 | 258,671 | |
Guaranty Bancorp | 3,487 | 88,047 | |
Hancock Holding Co. | 10,913 | 504,181 | |
Hanmi Financial Corp. | 4,323 | 114,992 | |
HarborOne Bancorp, Inc. | 3,896 | 76,440 | |
Heartland Financial U.S.A., Inc. | 3,198 | 143,430 | |
Heritage Commerce Corp. | 4,429 | 59,614 | |
Heritage Financial Corp., Washington | 4,377 | 104,391 | |
Home Bancshares, Inc. (b) | 17,750 | 415,528 | |
HomeTrust Bancshares, Inc. (a) | 2,557 | 63,286 | |
Hope Bancorp, Inc. | 17,179 | 299,086 | |
Horizon Bancorp Industries | 3,066 | 77,999 | |
Howard Bancorp, Inc. (a) | 626 | 11,831 | |
Huntington Bancshares, Inc. | 138,978 | 1,742,784 | |
IBERIABANK Corp. | 5,796 | 447,451 | |
Independent Bank Corp. | 2,942 | 59,870 | |
Independent Bank Corp., Massachusetts (b) | 3,583 | 216,592 | |
Independent Bank Group, Inc. | 2,468 | 138,455 | |
International Bancshares Corp. | 8,113 | 268,946 | |
Investar Holding Corp. | 1,480 | 32,264 | |
Investors Bancorp, Inc. | 39,851 | 527,229 | |
Lakeland Bancorp, Inc. | 5,441 | 102,019 | |
Lakeland Financial Corp. | 3,204 | 135,946 | |
LCNB Corp. | 1,728 | 33,782 | |
LegacyTexas Financial Group, Inc. | 6,272 | 220,900 | |
Live Oak Bancshares, Inc. (b) | 3,834 | 93,741 | |
Macatawa Bank Corp. | 3,900 | 36,036 | |
MainSource Financial Group, Inc. | 2,803 | 90,761 | |
MB Financial, Inc. | 10,589 | 436,055 | |
MBT Financial Corp. | 3,991 | 40,509 | |
Mercantile Bank Corp. | 2,177 | 67,639 | |
Midland States Bancorp, Inc. | 1,863 | 65,093 | |
MidWestOne Financial Group, Inc. | 1,772 | 61,364 | |
National Commerce Corp. (a) | 1,133 | 42,318 | |
NBT Bancorp, Inc. | 5,350 | 187,999 | |
Nicolet Bankshares, Inc. (a) | 1,288 | 64,117 | |
Northeast Bancorp | 746 | 14,435 | |
Northrim Bancorp, Inc. | 1,236 | 36,709 | |
Old Line Bancshares, Inc. | 1,884 | 52,752 | |
Old National Bancorp, Indiana | 16,709 | 264,002 | |
Old Point Financial Corp. | 399 | 11,691 | |
Old Second Bancorp, Inc. | 3,886 | 45,078 | |
Opus Bank | 4,378 | 94,127 | |
Pacific Continental Corp. | 2,860 | 67,353 | |
Pacific Mercantile Bancorp (a) | 2,332 | 17,956 | |
Pacific Premier Bancorp, Inc. (a) | 5,412 | 184,008 | |
PacWest Bancorp | 15,294 | 713,771 | |
Park Sterling Corp. | 6,973 | 80,957 | |
Parke Bancorp, Inc. | 1,004 | 20,783 | |
Peapack-Gladstone Financial Corp. | 2,071 | 62,938 | |
Penns Woods Bancorp, Inc. | 611 | 24,135 | |
People's Utah Bancorp | 2,674 | 68,454 | |
Peoples Bancorp, Inc. | 2,603 | 78,741 | |
Peoples Financial Services Corp. | 779 | 30,630 | |
Peoples United Financial, Inc. | 43,026 | 712,941 | |
Pinnacle Financial Partners, Inc. | 6,716 | 403,967 | |
Plumas Bancorp | 638 | 11,899 | |
Popular, Inc. | 12,985 | 483,042 | |
Preferred Bank, Los Angeles | 1,679 | 83,799 | |
Premier Financial Bancorp, Inc. | 1,495 | 29,541 | |
PrivateBancorp, Inc. | 10,216 | 608,771 | |
QCR Holdings, Inc. | 1,818 | 79,628 | |
Renasant Corp. | 5,243 | 209,458 | |
Republic Bancorp, Inc., Kentucky Class A | 2,459 | 85,278 | |
Republic First Bancorp, Inc. (a)(b) | 6,378 | 56,445 | |
Royal Bancshares of Pennsylvania, Inc. Class A (a) | 869 | 3,546 | |
S&T Bancorp, Inc. | 4,613 | 153,936 | |
Sandy Spring Bancorp, Inc. | 3,290 | 126,237 | |
Seacoast Banking Corp., Florida (a) | 5,145 | 116,071 | |
ServisFirst Bancshares, Inc. (b) | 6,988 | 239,269 | |
Shore Bancshares, Inc. | 1,156 | 18,415 | |
Sierra Bancorp | 1,875 | 45,056 | |
Signature Bank (a) | 7,079 | 1,012,439 | |
Simmons First National Corp. Class A | 3,888 | 197,316 | |
South State Corp. | 3,661 | 304,229 | |
Southern First Bancshares, Inc. (a) | 1,195 | 40,869 | |
Southern National Bancorp of Virginia, Inc. | 1,775 | 30,370 | |
Southside Bancshares, Inc. | 3,686 | 120,016 | |
Southwest Bancorp, Inc., Oklahoma | 1,984 | 48,806 | |
State Bank Financial Corp. | 4,685 | 118,765 | |
Stock Yards Bancorp, Inc. | 3,039 | 110,012 | |
Stonegate Bank | 1,484 | 67,136 | |
Summit Financial Group, Inc. | 1,307 | 28,283 | |
Sun Bancorp, Inc. | 2,954 | 73,112 | |
Sunshine Bancorp, Inc. (a) | 1,987 | 43,813 | |
Sussex Bancorp (b) | 473 | 11,872 | |
SVB Financial Group (a) | 6,649 | 1,133,655 | |
Texas Capital Bancshares, Inc. (a) | 6,310 | 463,154 | |
The First Bancorp, Inc. | 1,573 | 39,529 | |
TowneBank | 8,153 | 236,437 | |
Trico Bancshares | 2,560 | 89,293 | |
TriState Capital Holdings, Inc. (a) | 3,802 | 88,206 | |
Triumph Bancorp, Inc. (a) | 2,751 | 62,723 | |
Trustmark Corp. | 8,591 | 261,252 | |
Two River Bancorp | 1,064 | 16,918 | |
UMB Financial Corp. | 6,518 | 456,456 | |
Umpqua Holdings Corp. | 27,794 | 470,969 | |
Union Bankshares Corp. (b) | 5,177 | 173,947 | |
United Bankshares, Inc., West Virginia (b) | 13,794 | 527,621 | |
United Community Bank, Inc. | 9,775 | 251,902 | |
United Security Bancshares, Inc. | 31 | 352 | |
Univest Corp. of Pennsylvania | 3,199 | 88,132 | |
Veritex Holdings, Inc. (a) | 1,916 | 49,816 | |
Washington Trust Bancorp, Inc. | 2,208 | 105,542 | |
WashingtonFirst Bankshares, Inc. | 1,770 | 58,091 | |
WesBanco, Inc. | 5,932 | 220,433 | |
West Bancorp., Inc. | 9,186 | 201,633 | |
Westamerica Bancorp. (b) | 3,443 | 176,660 | |
Wintrust Financial Corp. | 6,570 | 451,753 | |
Xenith Bankshares, Inc. (a) | 3,040 | 93,358 | |
Zions Bancorporation | 25,837 | 1,035,289 | |
36,544,237 | |||
Capital Markets - 1.8% | |||
180 Degree Capital Corp. (a) | 3,724 | 5,772 | |
American Capital Senior Floating Ltd. | 1,476 | 19,336 | |
B. Riley Financial, Inc. (b) | 2,797 | 42,095 | |
BGC Partners, Inc. Class A | 32,316 | 381,006 | |
Capital Southwest Corp. | 10,451 | 165,230 | |
Capitala Finance Corp. | 2,215 | 29,947 | |
Capitol Acquisition Corp. III (a) | 3,960 | 40,986 | |
Carlyle Group LP | 10,843 | 191,379 | |
CBOE Holdings, Inc. | 10,309 | 890,388 | |
CM Finance, Inc. | 3,056 | 31,782 | |
CME Group, Inc. | 43,501 | 5,102,232 | |
Cowen Group, Inc. Class A (a)(b) | 3,675 | 55,309 | |
Diamond Hill Investment Group, Inc. | 472 | 95,448 | |
E*TRADE Financial Corp. (a) | 35,193 | 1,218,030 | |
FBR & Co. | 1,341 | 23,736 | |
Financial Engines, Inc. (b) | 7,995 | 303,011 | |
Hamilton Lane, Inc. Class A | 1,578 | 31,923 | |
Harvest Capital Credit Corp. | 517 | 6,793 | |
Hennessy Advisors, Inc. | 1,444 | 20,765 | |
Horizon Technology Finance Corp. (b) | 1,183 | 13,013 | |
Interactive Brokers Group, Inc. | 8,499 | 296,445 | |
INTL FCStone, Inc. (a) | 2,464 | 85,156 | |
LPL Financial | 11,516 | 448,318 | |
MarketAxess Holdings, Inc. | 4,827 | 919,930 | |
Morningstar, Inc. | 5,612 | 410,686 | |
Newtek Business Services Corp. (b) | 2,265 | 38,324 | |
Northern Trust Corp. | 29,611 | 2,589,186 | |
Paragon Commercial Corp. | 341 | 17,336 | |
SEI Investments Co. | 20,498 | 1,026,745 | |
T. Rowe Price Group, Inc. | 31,541 | 2,221,748 | |
TD Ameritrade Holding Corp. | 67,461 | 2,520,343 | |
The NASDAQ OMX Group, Inc. | 21,229 | 1,436,142 | |
TheStreet.com, Inc. (a) | 8,734 | 8,123 | |
Virtu Financial, Inc. Class A (b) | 5,058 | 82,445 | |
Virtus Investment Partners, Inc. (b) | 793 | 79,855 | |
Wins Finance Holdings, Inc. (a)(b) | 2,563 | 48,364 | |
WisdomTree Investments, Inc. (b) | 17,103 | 162,650 | |
Yintech Investment Holdings Ltd. sponsored ADR (b) | 1,227 | 12,319 | |
21,072,296 | |||
Consumer Finance - 0.2% | |||
Asta Funding, Inc. (a) | 2,511 | 16,322 | |
Atlanticus Holdings Corp. (a) | 2,850 | 6,755 | |
China Lending Corp. | 3,593 | 17,606 | |
Consumer Portfolio Services, Inc. (a) | 3,283 | 13,723 | |
Credit Acceptance Corp. (a)(b) | 2,601 | 559,267 | |
Encore Capital Group, Inc. (a)(b) | 2,995 | 108,419 | |
EZCORP, Inc. (non-vtg.) Class A (a) | 6,032 | 51,272 | |
Navient Corp. | 38,397 | 554,069 | |
PRA Group, Inc. (a)(b) | 6,095 | 212,106 | |
SLM Corp. (a) | 53,961 | 560,655 | |
World Acceptance Corp. (a) | 1,043 | 81,479 | |
2,181,673 | |||
Diversified Financial Services - 0.1% | |||
Bioverativ, Inc. | 13,869 | 764,043 | |
Boulevard Acquisition Corp. II (a) | 95 | 950 | |
GDS Holdings Ltd. ADR | 3,150 | 24,444 | |
GTY Technology Holdings, Inc. Class A (a)(b) | 6,765 | 67,244 | |
Marlin Business Services Corp. | 1,715 | 43,475 | |
NewStar Financial, Inc. | 6,670 | 59,296 | |
PICO Holdings, Inc. (a) | 2,951 | 48,249 | |
Quantenna Communications, Inc. | 4,397 | 84,071 | |
Ra Pharmaceuticals, Inc. | 3,442 | 82,677 | |
Smart Sand, Inc. | 5,477 | 53,346 | |
Varex Imaging Corp. (a)(b) | 4,770 | 163,850 | |
1,391,645 | |||
Insurance - 0.9% | |||
AMBAC Financial Group, Inc. (a) | 5,597 | 92,462 | |
American National Insurance Co. | 3,444 | 404,773 | |
Amerisafe, Inc. | 2,260 | 117,068 | |
AmTrust Financial Services, Inc. (b) | 21,855 | 287,175 | |
Arch Capital Group Ltd. (a) | 15,715 | 1,528,284 | |
Argo Group International Holdings, Ltd. | 3,681 | 227,854 | |
Atlas Financial Holdings, Inc. (a) | 1,686 | 25,290 | |
Baldwin & Lyons, Inc. Class B | 1,868 | 44,458 | |
Cincinnati Financial Corp. | 21,463 | 1,504,127 | |
Donegal Group, Inc. Class A | 11,222 | 176,073 | |
eHealth, Inc. (a) | 2,658 | 48,695 | |
EMC Insurance Group | 3,091 | 83,828 | |
Enstar Group Ltd. (a) | 2,074 | 389,186 | |
Erie Indemnity Co. Class A | 6,042 | 711,566 | |
Federated National Holding Co. | 1,718 | 27,007 | |
Global Indemnity Ltd. (a) | 5,147 | 195,637 | |
Greenlight Capital Re, Ltd. (a) | 3,648 | 75,149 | |
Hallmark Financial Services, Inc. (a) | 2,599 | 26,900 | |
Health Insurance Innovations, Inc. (a) | 948 | 21,093 | |
Infinity Property & Casualty Corp. | 1,296 | 124,092 | |
Investors Title Co. | 263 | 49,160 | |
James River Group Holdings Ltd. | 4,024 | 159,511 | |
Kingstone Companies, Inc. | 761 | 11,149 | |
Kinsale Capital Group, Inc. | 2,804 | 101,617 | |
Maiden Holdings Ltd. | 11,771 | 124,184 | |
National General Holdings Corp. | 13,379 | 293,803 | |
National Western Life Group, Inc. | 460 | 141,289 | |
Navigators Group, Inc. | 3,677 | 194,881 | |
Safety Insurance Group, Inc. | 2,017 | 134,231 | |
Selective Insurance Group, Inc. | 7,510 | 383,761 | |
State Auto Financial Corp. | 5,650 | 140,459 | |
State National Companies, Inc. | 6,091 | 107,019 | |
Trupanion, Inc. (a)(b) | 3,632 | 73,875 | |
United Fire Group, Inc. | 3,056 | 132,172 | |
United Insurance Holdings Corp. | 5,413 | 87,853 | |
Willis Group Holdings PLC | 17,499 | 2,565,878 | |
WMI Holdings Corp. (a) | 25,487 | 28,036 | |
10,839,595 | |||
Mortgage Real Estate Investment Trusts - 0.1% | |||
Agnc Investment Corp. | 45,072 | 937,047 | |
American Capital Mortgage Investment Corp. | 5,700 | 104,025 | |
CIM Commercial Trust Corp. | 11,086 | 175,159 | |
New York Mortgage Trust, Inc. (b) | 14,140 | 87,951 | |
1,304,182 | |||
Real Estate Management & Development - 0.0% | |||
The RMR Group, Inc. | 2,073 | 101,784 | |
Thrifts & Mortgage Finance - 0.4% | |||
America First Tax Exempt Investors LP | 6,643 | 38,862 | |
Bank Mutual Corp. | 6,620 | 58,587 | |
BankFinancial Corp. | 2,115 | 31,048 | |
Bear State Financial, Inc. | 19,688 | 172,073 | |
Beneficial Bancorp, Inc. | 10,149 | 148,683 | |
BofI Holding, Inc. (a)(b) | 7,840 | 174,048 | |
BSB Bancorp, Inc. (a) | 1,280 | 37,120 | |
Capitol Federal Financial, Inc. | 18,087 | 249,962 | |
Charter Financial Corp. | 1,770 | 31,683 | |
Clifton Bancorp, Inc. | 3,051 | 49,579 | |
Dime Community Bancshares, Inc. | 5,159 | 98,021 | |
First Defiance Financial Corp. | 1,079 | 56,216 | |
Greene County Bancorp, Inc. (b) | 1,685 | 40,946 | |
Hingham Institution for Savings | 344 | 60,627 | |
HMN Financial, Inc. (a) | 1,056 | 18,586 | |
Home Bancorp, Inc. | 1,014 | 35,287 | |
HomeStreet, Inc. (a) | 2,893 | 77,532 | |
HopFed Bancorp, Inc. | 1,647 | 23,931 | |
Kearny Financial Corp. | 10,991 | 153,324 | |
Lendingtree, Inc. (a) | 1,525 | 237,290 | |
Meridian Bancorp, Inc. Maryland | 6,576 | 106,531 | |
Meta Financial Group, Inc. | 1,226 | 104,946 | |
NMI Holdings, Inc. (a) | 7,464 | 77,626 | |
Northfield Bancorp, Inc. | 6,693 | 110,167 | |
Northwest Bancshares, Inc. | 12,527 | 192,791 | |
OceanFirst Financial Corp. | 3,244 | 85,966 | |
Oritani Financial Corp. (b) | 5,537 | 91,637 | |
Provident Financial Holdings, Inc. | 12,020 | 228,380 | |
Riverview Bancorp, Inc. | 4,180 | 28,508 | |
SI Financial Group, Inc. | 15,928 | 238,920 | |
Southern Missouri Bancorp, Inc. | 1,333 | 41,856 | |
Territorial Bancorp, Inc. | 6,993 | 210,210 | |
TFS Financial Corp. | 36,175 | 565,054 | |
Trustco Bank Corp., New York | 11,338 | 83,334 | |
United Community Financial Corp. | 6,548 | 51,795 | |
United Financial Bancorp, Inc. New | 7,645 | 123,773 | |
Washington Federal, Inc. | 11,048 | 352,984 | |
Waterstone Financial, Inc. | 3,610 | 68,229 | |
Westfield Financial, Inc. | 6,045 | 60,148 | |
WSFS Financial Corp. | 4,165 | 183,677 | |
4,799,937 | |||
TOTAL FINANCIALS | 78,235,349 | ||
HEALTH CARE - 12.0% | |||
Biotechnology - 7.3% | |||
Abeona Therapeutics, Inc. (a)(b) | 4,823 | 25,803 | |
ACADIA Pharmaceuticals, Inc. (a)(b) | 15,548 | 399,739 | |
Acceleron Pharma, Inc. (a)(b) | 4,864 | 124,081 | |
Achillion Pharmaceuticals, Inc. (a) | 16,861 | 75,031 | |
Acorda Therapeutics, Inc. (a) | 6,198 | 85,532 | |
Adamas Pharmaceuticals, Inc. (a)(b) | 3,306 | 50,846 | |
Adaptimmune Therapeutics PLC sponsored ADR (a) | 3,459 | 18,264 | |
ADMA Biologics, Inc. (a) | 2,262 | 8,369 | |
Aduro Biotech, Inc. (a) | 7,938 | 79,380 | |
Advanced Accelerator Applications SA sponsored ADR (a) | 5,038 | 190,336 | |
Advaxis, Inc. (a)(b) | 5,399 | 43,570 | |
Adverum Biotechnologies, Inc. (a) | 6,090 | 15,530 | |
Aeglea BioTherapeutics, Inc. (a) | 2,773 | 11,702 | |
Aevi Genomic Medicine, Inc. (a)(b) | 2,459 | 2,631 | |
Affimed NV (a)(b) | 5,205 | 11,451 | |
Agenus, Inc. (a)(b) | 10,248 | 34,023 | |
Agios Pharmaceuticals, Inc. (a)(b) | 5,362 | 250,245 | |
Aimmune Therapeutics, Inc. (a)(b) | 6,517 | 108,182 | |
Akebia Therapeutics, Inc. (a) | 5,366 | 71,904 | |
Albireo Pharma, Inc. (a) | 653 | 13,373 | |
Alder Biopharmaceuticals, Inc. (a)(b) | 6,633 | 102,148 | |
Aldeyra Therapeutics, Inc. (a)(b) | 2,127 | 10,741 | |
Alexion Pharmaceuticals, Inc. (a) | 28,768 | 2,820,127 | |
Alkermes PLC (a)(b) | 19,385 | 1,119,678 | |
Alnylam Pharmaceuticals, Inc. (a)(b) | 11,032 | 722,155 | |
AMAG Pharmaceuticals, Inc. (a)(b) | 4,315 | 74,650 | |
Amarin Corp. PLC ADR (a) | 32,910 | 96,755 | |
Amgen, Inc. | 94,209 | 14,625,005 | |
Amicus Therapeutics, Inc. (a)(b) | 19,710 | 158,074 | |
AnaptysBio, Inc. | 2,622 | 67,097 | |
Anavex Life Sciences Corp. (a)(b) | 7,155 | 41,427 | |
Anthera Pharmaceuticals, Inc. (a)(b) | 662 | 1,066 | |
Applied Genetic Technologies Corp. (a) | 2,515 | 13,078 | |
AquaBounty Technologies, Inc. (a) | 935 | 7,686 | |
Aquinox Pharmaceuticals, Inc. (a)(b) | 2,454 | 31,313 | |
Arbutus Biopharma Corp. (a) | 7,027 | 23,892 | |
Ardelyx, Inc. (a) | 6,177 | 29,032 | |
Arena Pharmaceuticals, Inc. (a) | 37,161 | 48,309 | |
Argos Therapeutics, Inc. (a)(b) | 5,935 | 2,582 | |
Array BioPharma, Inc. (a)(b) | 22,148 | 167,882 | |
Arrowhead Pharmaceuticals, Inc. (a)(b) | 6,536 | 9,412 | |
Ascendis Pharma A/S sponsored ADR (a)(b) | 8,391 | 200,125 | |
Atara Biotherapeutics, Inc. (a)(b) | 3,596 | 47,647 | |
Athersys, Inc. (a)(b) | 15,743 | 22,040 | |
aTyr Pharma, Inc. (a)(b) | 3,640 | 11,830 | |
Audentes Therapeutics, Inc. | 2,923 | 41,711 | |
Aurinia Pharmaceuticals, Inc. (a)(b) | 6,841 | 42,688 | |
AVEO Pharmaceuticals, Inc. (a)(b) | 13,215 | 9,383 | |
BeiGene Ltd. ADR (a)(b) | 2,373 | 87,208 | |
Bellicum Pharmaceuticals, Inc. (a)(b) | 3,748 | 39,691 | |
BioCryst Pharmaceuticals, Inc. (a)(b) | 9,678 | 49,842 | |
Biogen, Inc. (a) | 27,739 | 6,872,892 | |
BioMarin Pharmaceutical, Inc. (a) | 22,023 | 1,930,096 | |
Biospecifics Technologies Corp. (a) | 1,138 | 58,983 | |
bluebird bio, Inc. (a)(b) | 5,103 | 384,511 | |
Blueprint Medicines Corp. (a) | 4,924 | 176,673 | |
BrainStorm Cell Therpeutic, Inc. (a) | 2,677 | 10,574 | |
Calithera Biosciences, Inc. (a) | 2,956 | 45,966 | |
Cara Therapeutics, Inc. (a)(b) | 4,070 | 67,399 | |
Cascadian Therapeutics, Inc. (a) | 4,980 | 19,422 | |
Catabasis Pharmaceuticals, Inc. (a)(b) | 2,669 | 3,576 | |
Catalyst Biosciences, Inc. (a) | 26 | 123 | |
Catalyst Pharmaceutical Partners, Inc. (a) | 11,832 | 25,084 | |
Celgene Corp. (a) | 99,363 | 11,368,121 | |
Celldex Therapeutics, Inc. (a)(b) | 12,958 | 36,671 | |
Cellectis SA sponsored ADR (a) | 1,046 | 24,905 | |
Cerulean Pharma, Inc. (a) | 4,476 | 1,701 | |
ChemoCentryx, Inc. (a)(b) | 6,722 | 44,634 | |
Chiasma, Inc. (a)(b) | 3,152 | 4,570 | |
Chimerix, Inc. (a) | 5,889 | 26,383 | |
China Biologic Products, Inc. (a)(b) | 3,405 | 387,489 | |
Cidara Therapeutics, Inc. (a)(b) | 2,027 | 12,162 | |
Clovis Oncology, Inc. (a) | 5,600 | 289,296 | |
Coherus BioSciences, Inc. (a)(b) | 6,753 | 133,372 | |
Conatus Pharmaceuticals, Inc. (a)(b) | 2,655 | 13,089 | |
Concert Pharmaceuticals, Inc. (a) | 3,396 | 42,654 | |
ContraFect Corp. (a) | 81 | 97 | |
Corbus Pharmaceuticals Holdings, Inc. (a)(b) | 5,936 | 36,803 | |
Corvus Pharmaceuticals, Inc. (a) | 3,159 | 32,095 | |
CRISPR Therapeutics AG (b) | 5,146 | 70,089 | |
CTI BioPharma Corp. (a)(b) | 4,273 | 17,391 | |
Curis, Inc. (a) | 20,537 | 35,118 | |
Cyclacel Pharmaceuticals, Inc. | 74 | 312 | |
Cytokinetics, Inc. (a) | 5,212 | 70,623 | |
CytomX Therapeutics, Inc. (a) | 4,336 | 61,094 | |
Cytori Therapeutics, Inc. (a)(b) | 3,146 | 3,146 | |
CytRx Corp. (a)(b) | 9,907 | 8,698 | |
DBV Technologies SA sponsored ADR (a)(b) | 3,313 | 109,992 | |
Dicerna Pharmaceuticals, Inc. (a) | 3,630 | 11,253 | |
Dyax Corp. rights 12/31/19 (a) | 12,922 | 41,867 | |
Dynavax Technologies Corp. (a)(b) | 4,710 | 25,905 | |
Eagle Pharmaceuticals, Inc. (a)(b) | 2,060 | 150,277 | |
Edge Therapeutics, Inc. (a)(b) | 4,336 | 42,493 | |
Editas Medicine, Inc. (a)(b) | 5,336 | 72,890 | |
Eiger Biopharmaceuticals, Inc. (a)(b) | 945 | 6,284 | |
Eleven Biotherapeutics, Inc. (a)(b) | 2,451 | 3,358 | |
Enanta Pharmaceuticals, Inc. (a) | 2,419 | 72,764 | |
Enzymotec Ltd. (a)(b) | 220 | 1,782 | |
Epizyme, Inc. (a)(b) | 7,748 | 110,796 | |
Esperion Therapeutics, Inc. (a)(b) | 3,005 | 96,220 | |
Exact Sciences Corp. (a)(b) | 12,711 | 463,570 | |
Exelixis, Inc. (a) | 36,976 | 691,821 | |
Fate Therapeutics, Inc. (a) | 7,281 | 24,537 | |
Fibrocell Science, Inc. (a) | 1,914 | 4,096 | |
FibroGen, Inc. (a) | 8,169 | 214,845 | |
Five Prime Therapeutics, Inc. (a) | 3,583 | 101,220 | |
Flexion Therapeutics, Inc. (a)(b) | 4,003 | 68,411 | |
Fortress Biotech, Inc. (a)(b) | 10,608 | 38,295 | |
Forward Pharma A/S sponsored ADR (a)(b) | 1,571 | 30,949 | |
Foundation Medicine, Inc. (a)(b) | 4,767 | 181,146 | |
Galapagos Genomics NV sponsored ADR (a) | 1,340 | 110,322 | |
Galectin Therapeutics, Inc. (a)(b) | 6,332 | 14,374 | |
Galena Biopharma, Inc. (a) | 1,094 | 614 | |
Galmed Pharmaceuticals Ltd. (a) | 2,270 | 11,350 | |
Genocea Biosciences, Inc. (a)(b) | 3,536 | 21,570 | |
Genomic Health, Inc. (a) | 4,392 | 139,490 | |
GenVec, Inc. (a) | 1,972 | 12,680 | |
Geron Corp. (a)(b) | 21,583 | 57,411 | |
Gilead Sciences, Inc. | 167,887 | 10,894,187 | |
Global Blood Therapeutics, Inc. (a)(b) | 5,643 | 152,361 | |
GlycoMimetics, Inc. (a)(b) | 2,806 | 35,608 | |
Grifols SA ADR | 18,480 | 396,581 | |
Halozyme Therapeutics, Inc. (a)(b) | 16,332 | 192,718 | |
Harvard Apparatus (a) | 1,618 | 453 | |
Heron Therapeutics, Inc. (a)(b) | 4,775 | 63,985 | |
Idera Pharmaceuticals, Inc. (a)(b) | 23,943 | 39,027 | |
Ignyta, Inc. (a) | 6,541 | 46,114 | |
Immune Design Corp. (a) | 3,108 | 23,155 | |
ImmunoGen, Inc. (a)(b) | 11,138 | 51,346 | |
Immunomedics, Inc. (a)(b) | 13,977 | 105,526 | |
Incyte Corp. (a) | 24,141 | 3,122,156 | |
Infinity Pharmaceuticals, Inc. (a)(b) | 5,197 | 8,939 | |
Inotek Pharmaceuticals Corp. (a)(b) | 2,672 | 4,542 | |
Inovio Pharmaceuticals, Inc. (a)(b) | 8,976 | 67,769 | |
Insmed, Inc. (a)(b) | 7,905 | 121,895 | |
Insys Therapeutics, Inc. (a)(b) | 9,169 | 134,784 | |
Intellia Therapeutics, Inc. (a)(b) | 5,002 | 57,323 | |
Intercept Pharmaceuticals, Inc. (a)(b) | 3,188 | 356,737 | |
Ionis Pharmaceuticals, Inc. (a)(b) | 15,461 | 707,959 | |
Ironwood Pharmaceuticals, Inc. Class A (a)(b) | 16,927 | 299,777 | |
Jounce Therapeutics, Inc. | 3,793 | 76,808 | |
Juno Therapeutics, Inc. (a)(b) | 13,384 | 310,910 | |
Kalvista Pharmaceuticals, Inc. (a)(b) | 943 | 7,016 | |
Kamada (a) | 112 | 790 | |
Karyopharm Therapeutics, Inc. (a) | 4,525 | 36,743 | |
Keryx Biopharmaceuticals, Inc. (a) | 13,247 | 84,648 | |
Kindred Biosciences, Inc. (a) | 3,685 | 25,058 | |
Kite Pharma, Inc. (a)(b) | 7,069 | 511,230 | |
Kura Oncology, Inc. (a) | 3,504 | 31,186 | |
La Jolla Pharmaceutical Co. (a)(b) | 2,571 | 73,531 | |
Leap Therapeutics, Inc. (a) | 1,337 | 8,838 | |
Lexicon Pharmaceuticals, Inc. (a)(b) | 13,258 | 183,623 | |
Ligand Pharmaceuticals, Inc.: | |||
Class B (a)(b) | 2,724 | 294,955 | |
General CVR (a) | 1,530 | 38 | |
Glucagon CVR (a) | 1,530 | 107 | |
rights (a) | 1,530 | 6 | |
TR Beta CVR (a) | 1,530 | 8 | |
Lion Biotechnologies, Inc. (a) | 6,249 | 32,182 | |
Loxo Oncology, Inc. (a)(b) | 3,326 | 151,832 | |
Macrogenics, Inc. (a) | 4,758 | 84,455 | |
MannKind Corp. (a)(b) | 11,719 | 17,813 | |
MediciNova, Inc. (a)(b) | 4,731 | 27,534 | |
MEI Pharma, Inc. (a) | 2,944 | 6,624 | |
Merrimack Pharmaceuticals, Inc. | 15,406 | 27,962 | |
MiMedx Group, Inc. (a)(b) | 14,655 | 200,480 | |
Minerva Neurosciences, Inc. (a) | 3,922 | 32,357 | |
Miragen Therapeutics, Inc. (a) | 2,536 | 27,693 | |
Mirati Therapeutics, Inc. (a) | 2,277 | 6,376 | |
Momenta Pharmaceuticals, Inc. (a) | 9,692 | 140,534 | |
Myriad Genetics, Inc. (a)(b) | 8,438 | 171,713 | |
NantKwest, Inc. (a)(b) | 10,509 | 38,568 | |
Natera, Inc. (a)(b) | 6,764 | 69,263 | |
Neothetics, Inc. (a) | 2,187 | 5,336 | |
Neuralstem, Inc. (a)(b) | 3,363 | 14,999 | |
Neurocrine Biosciences, Inc. (a)(b) | 11,004 | 478,344 | |
NewLink Genetics Corp. (a)(b) | 3,650 | 46,574 | |
Nivalis Therapeutics, Inc. (a) | 2,183 | 5,021 | |
Novavax, Inc. (a)(b) | 35,241 | 32,468 | |
Novelion Therapeutics, Inc. (a) | 2,901 | 24,223 | |
Novelion Therapeutics, Inc.: | |||
warrants | 5,463 | 0 | |
warrants | 5,463 | 0 | |
Nymox Pharmaceutical Corp. (a)(b) | 6,161 | 26,492 | |
Ohr Pharmaceutical, Inc. (a) | 2,659 | 1,595 | |
OncoGenex Pharmaceuticals, Inc. (a)(b) | 711 | 271 | |
OncoMed Pharmaceuticals, Inc. (a)(b) | 3,983 | 12,985 | |
Onconova Therapeutics, Inc. (a) | 310 | 574 | |
Ophthotech Corp. (a)(b) | 4,563 | 10,358 | |
Opko Health, Inc. (a)(b) | 72,207 | 443,351 | |
Organovo Holdings, Inc. (a)(b) | 14,511 | 41,066 | |
Otonomy, Inc. (a) | 3,538 | 43,341 | |
OvaScience, Inc. (a)(b) | 11,699 | 14,975 | |
PDL BioPharma, Inc. | 19,600 | 46,844 | |
Peregrine Pharmaceuticals, Inc. (a) | 38,775 | 21,404 | |
Pieris Pharmaceuticals, Inc. (a) | 4,186 | 19,172 | |
Pluristem Therapeutics, Inc. (a)(b) | 17,693 | 24,593 | |
Portola Pharmaceuticals, Inc. (a) | 7,475 | 275,454 | |
Prana Biotechnology Ltd. ADR (a) | 1,447 | 3,039 | |
Progenics Pharmaceuticals, Inc. (a)(b) | 10,515 | 66,981 | |
ProNai Therapeutics, Inc. (a) | 3,883 | 4,388 | |
ProQR Therapeutics BV (a) | 2,905 | 14,235 | |
Proteon Therapeutics, Inc. (a)(b) | 3,803 | 4,564 | |
Proteostasis Therapeutics, Inc. (a) | 3,119 | 12,351 | |
Prothena Corp. PLC (a)(b) | 4,416 | 225,260 | |
PTC Therapeutics, Inc. (a)(b) | 5,102 | 63,928 | |
Puma Biotechnology, Inc. (a)(b) | 4,191 | 320,612 | |
Radius Health, Inc. (a)(b) | 5,406 | 187,156 | |
Recro Pharma, Inc. (a) | 2,958 | 21,475 | |
Regeneron Pharmaceuticals, Inc. (a) | 13,269 | 6,091,267 | |
REGENXBIO, Inc. (a)(b) | 3,504 | 59,918 | |
Regulus Therapeutics, Inc. (a)(b) | 6,670 | 9,338 | |
Repligen Corp. (a) | 4,558 | 178,856 | |
Retrophin, Inc. (a) | 4,622 | 73,259 | |
Rigel Pharmaceuticals, Inc. (a) | 14,215 | 32,552 | |
Sage Therapeutics, Inc. (a)(b) | 4,762 | 314,816 | |
Sangamo Therapeutics, Inc. (a)(b) | 8,094 | 55,039 | |
Sarepta Therapeutics, Inc. (a)(b) | 6,918 | 206,433 | |
Seattle Genetics, Inc. (a)(b) | 18,159 | 1,161,813 | |
Selecta Biosciences, Inc. (b) | 2,522 | 34,501 | |
Seres Therapeutics, Inc. (a) | 4,980 | 45,418 | |
Shire PLC sponsored ADR | 10,487 | 1,811,315 | |
Sinovac Biotech Ltd. (a) | 49,563 | 264,171 | |
Sophiris Bio, Inc. (a)(b) | 4,483 | 10,670 | |
Sorrento Therapeutics, Inc. (a)(b) | 9,320 | 14,446 | |
Spark Therapeutics, Inc. (a)(b) | 3,761 | 191,548 | |
Spectrum Pharmaceuticals, Inc. (a) | 11,181 | 63,284 | |
Spring Bank Pharmaceuticals, Inc. (b) | 1,163 | 14,433 | |
Stemline Therapeutics, Inc. (a)(b) | 2,854 | 22,547 | |
Sunesis Pharmaceuticals, Inc. (a) | 1,342 | 3,972 | |
Syndax Pharmaceuticals, Inc. (a)(b) | 2,305 | 27,983 | |
Synergy Pharmaceuticals, Inc. (a)(b) | 28,579 | 100,312 | |
T2 Biosystems, Inc. (a)(b) | 4,692 | 15,531 | |
Tenax Therapeutics, Inc. (a)(b) | 4,588 | 2,299 | |
TESARO, Inc. (a)(b) | 6,814 | 1,017,398 | |
TG Therapeutics, Inc. (a)(b) | 7,218 | 81,203 | |
Threshold Pharmaceuticals, Inc. (a)(b) | 15,603 | 7,131 | |
Tobira Therapeutics, Inc. rights (b) | 1,750 | 33,250 | |
TONIX Pharmaceuticals Holding (a) | 322 | 1,388 | |
TRACON Pharmaceuticals, Inc. (a)(b) | 1,838 | 4,963 | |
Trevena, Inc. (a)(b) | 7,112 | 16,571 | |
Trillium Therapeutics, Inc. (a)(b) | 1,627 | 8,142 | |
Trovagene, Inc. (a)(b) | 3,987 | 2,565 | |
Ultragenyx Pharmaceutical, Inc. (a)(b) | 5,469 | 294,506 | |
uniQure B.V. (a)(b) | 3,138 | 17,385 | |
United Therapeutics Corp. (a) | 5,728 | 692,458 | |
Vanda Pharmaceuticals, Inc. (a) | 5,244 | 72,105 | |
VBI Vaccines, Inc. (a)(b) | 5,613 | 23,294 | |
VBL Therapeutics (a) | 4,774 | 26,018 | |
Veracyte, Inc. (a) | 4,724 | 38,453 | |
Verastem, Inc. (a) | 6,127 | 12,622 | |
Vericel Corp. (a)(b) | 3,928 | 11,588 | |
Versartis, Inc. (a) | 4,489 | 68,906 | |
Vertex Pharmaceuticals, Inc. (a) | 31,719 | 3,920,468 | |
Vical, Inc. (a) | 1,960 | 4,763 | |
Vital Therapies, Inc. (a) | 4,630 | 12,270 | |
Voyager Therapeutics, Inc. (a)(b) | 4,168 | 36,928 | |
Xbiotech, Inc. (a)(b) | 3,790 | 27,932 | |
Xencor, Inc. (a) | 5,843 | 119,782 | |
Xenon Pharmaceuticals, Inc. (a)(b) | 2,996 | 10,935 | |
XOMA Corp. (a)(b) | 543 | 3,513 | |
Zafgen, Inc. (a) | 4,949 | 16,777 | |
ZIOPHARM Oncology, Inc. (a)(b) | 17,008 | 99,497 | |
87,158,444 | |||
Health Care Equipment & Supplies - 1.7% | |||
Abaxis, Inc. | 2,953 | 142,925 | |
Abiomed, Inc. (a) | 5,518 | 758,339 | |
Accuray, Inc. (a)(b) | 10,405 | 42,661 | |
Align Technology, Inc. (a) | 10,257 | 1,489,316 | |
Alliqua Biomedical, Inc. (a) | 6,332 | 2,251 | |
Alphatec Holdings, Inc. (a)(b) | 1,139 | 2,221 | |
Analogic Corp. | 1,666 | 119,785 | |
Angiodynamics, Inc. (a) | 5,049 | 76,139 | |
Anika Therapeutics, Inc. (a)(b) | 1,874 | 86,710 | |
Antares Pharma, Inc. (a) | 23,362 | 56,770 | |
Apollo Endosurgery, Inc. (a)(b) | 32 | 216 | |
Atricure, Inc. (a)(b) | 4,718 | 98,559 | |
Atrion Corp. | 255 | 140,671 | |
Avinger, Inc. (a)(b) | 2,181 | 1,157 | |
AxoGen, Inc. (a) | 3,949 | 58,643 | |
BioLase Technology, Inc. (a)(b) | 12,242 | 13,589 | |
Cardiovascular Systems, Inc. (a) | 3,978 | 119,459 | |
Cerus Corp. (a)(b) | 14,535 | 33,285 | |
ConforMis, Inc. (a) | 5,422 | 21,959 | |
CONMED Corp. | 3,738 | 189,778 | |
Cutera, Inc. (a) | 1,373 | 31,304 | |
CytoSorbents Corp. (a)(b) | 4,956 | 20,815 | |
Dentsply Sirona, Inc. | 29,597 | 1,880,001 | |
DexCom, Inc. (a)(b) | 10,900 | 728,556 | |
Dextera Surgical, Inc. (a) | 1,033 | 192 | |
EDAP TMS SA sponsored ADR (a) | 3,892 | 10,314 | |
Ekso Bionics Holdings, Inc. (a)(b) | 4,051 | 4,213 | |
Endologix, Inc. (a)(b) | 10,807 | 52,090 | |
Entellus Medical, Inc. (a)(b) | 2,810 | 37,457 | |
EnteroMedics, Inc. (a)(b) | 1,558 | 8,195 | |
Exactech, Inc. (a) | 2,111 | 63,963 | |
Fonar Corp. (a) | 986 | 24,946 | |
Genmark Diagnostics, Inc. (a) | 6,142 | 79,477 | |
Hologic, Inc. (a) | 35,750 | 1,548,333 | |
ICU Medical, Inc. (a) | 2,467 | 397,927 | |
IDEXX Laboratories, Inc. (a) | 11,448 | 1,927,729 | |
Inogen, Inc. (a) | 2,574 | 228,159 | |
Insulet Corp. (a) | 7,428 | 311,753 | |
Integra LifeSciences Holdings Corp. (a) | 9,338 | 470,168 | |
Intuitive Surgical, Inc. (a) | 4,963 | 4,539,557 | |
InVivo Therapeutics Holdings Corp. (a)(b) | 3,254 | 6,345 | |
Invuity, Inc. (a) | 2,070 | 15,111 | |
IRadimed Corp. (a)(b) | 1,523 | 12,412 | |
iRhythm Technologies, Inc. | 3,048 | 105,705 | |
Iridex Corp. (a)(b) | 2,119 | 19,050 | |
K2M Group Holdings, Inc. (a) | 5,831 | 132,655 | |
Lantheus Holdings, Inc. (a) | 4,970 | 82,502 | |
LeMaitre Vascular, Inc. | 2,475 | 75,636 | |
LivaNova PLC (a) | 6,302 | 358,206 | |
Masimo Corp. (a) | 6,457 | 562,017 | |
Mazor Robotics Ltd. sponsored ADR (a)(b) | 1,523 | 63,067 | |
Meridian Bioscience, Inc. | 5,396 | 74,465 | |
Merit Medical Systems, Inc. (a) | 5,645 | 200,398 | |
Microbot Medical, Inc. (a)(b) | 3,648 | 16,489 | |
Natus Medical, Inc. (a) | 4,330 | 146,787 | |
Neogen Corp. (a) | 4,919 | 311,324 | |
Neovasc, Inc. (a)(b) | 7,960 | 11,491 | |
Novadaq Technologies, Inc. (a)(b) | 7,462 | 51,562 | |
Novocure Ltd. (a)(b) | 10,599 | 133,017 | |
NuVasive, Inc. (a) | 6,479 | 486,119 | |
NxStage Medical, Inc. (a) | 8,499 | 184,088 | |
Obalon Therapeutics, Inc. (b) | 2,653 | 24,646 | |
OraSure Technologies, Inc. (a) | 7,278 | 109,679 | |
Orthofix International NV (a) | 2,527 | 105,300 | |
Oxford Immunotec Global PLC (a)(b) | 3,291 | 46,074 | |
PAVmed, Inc. (a)(b) | 1,684 | 7,090 | |
Pulse Biosciences, Inc. (b) | 1,591 | 45,487 | |
Quidel Corp. (a) | 3,949 | 98,014 | |
Quotient Ltd. (a) | 3,848 | 28,591 | |
ReWalk Robotics Ltd. (a) | 1,684 | 1,937 | |
Rockwell Medical Technologies, Inc. (a)(b) | 6,728 | 48,172 | |
RTI Biologics, Inc. (a) | 8,777 | 45,202 | |
Seaspine Holdings Corp. (a) | 1,373 | 13,716 | |
Second Sight Medical Products, Inc. (a) | 8,162 | 9,386 | |
Sientra, Inc. (a)(b) | 2,254 | 16,882 | |
Staar Surgical Co. (a)(b) | 23,953 | 219,170 | |
SurModics, Inc. (a) | 1,479 | 36,088 | |
Synergetics U.S.A., Inc. (a) | 3,200 | 608 | |
Syneron Medical Ltd. (a) | 4,267 | 46,510 | |
Tactile Systems Technology, Inc. | 2,256 | 54,888 | |
Tandem Diabetes Care, Inc. (a) | 4,392 | 3,493 | |
TearLab Corp. (a)(b) | 570 | 1,123 | |
The Spectranetics Corp. (a) | 4,969 | 134,163 | |
Trinity Biotech PLC sponsored ADR (a) | 3,146 | 17,712 | |
Utah Medical Products, Inc. | 3,368 | 226,330 | |
Vermillion, Inc. (a) | 7,476 | 12,784 | |
ViewRay, Inc. (a)(b) | 7,538 | 49,374 | |
Wright Medical Group NV (a)(b) | 12,858 | 343,566 | |
20,614,013 | |||
Health Care Providers & Services - 1.0% | |||
Acadia Healthcare Co., Inc. (a)(b) | 11,343 | 468,920 | |
Aceto Corp. (b) | 3,775 | 53,416 | |
Addus HomeCare Corp. (a) | 1,670 | 61,957 | |
Alliance Healthcare Services, Inc. (a) | 1,473 | 19,517 | |
Almost Family, Inc. (a) | 1,531 | 87,879 | |
Amedisys, Inc. (a)(b) | 4,224 | 253,102 | |
BioScrip, Inc. (a)(b) | 14,268 | 25,825 | |
BioTelemetry, Inc. (a) | 3,784 | 109,168 | |
Caladrius Biosciences, Inc. (a)(b) | 483 | 2,251 | |
Corvel Corp. (a) | 2,849 | 132,763 | |
Cross Country Healthcare, Inc. (a) | 4,663 | 53,858 | |
Express Scripts Holding Co. (a) | 77,165 | 4,610,609 | |
Five Star Sr Living, Inc. (a) | 184 | 331 | |
HealthEquity, Inc. (a) | 7,671 | 351,332 | |
Henry Schein, Inc. (a) | 10,201 | 1,876,678 | |
iKang Healthcare Group, Inc. sponsored ADR (a)(b) | 6,044 | 92,655 | |
Interpace Diagnostics Group, Inc. (a) | 199 | 376 | |
LHC Group, Inc. (a) | 2,548 | 153,390 | |
LifePoint Hospitals, Inc. (a) | 5,367 | 326,314 | |
Magellan Health Services, Inc. (a) | 3,141 | 215,944 | |
National Research Corp. Class A | 7,034 | 168,816 | |
Patterson Companies, Inc. (b) | 12,414 | 548,202 | |
Premier, Inc. (a) | 6,331 | 218,546 | |
Providence Service Corp. (a) | 2,060 | 96,284 | |
Psychemedics Corp. | 1,093 | 22,614 | |
R1 RCM, Inc. (a) | 12,523 | 44,707 | |
RadNet, Inc. (a) | 6,527 | 46,994 | |
Sharps Compliance Corp. (a) | 315 | 1,279 | |
Surgery Partners, Inc. (a)(b) | 6,125 | 133,525 | |
The Ensign Group, Inc. | 6,860 | 126,087 | |
Tivity Health, Inc. (a) | 4,857 | 164,895 | |
VCA, Inc. (a) | 10,378 | 956,125 | |
11,424,359 | |||
Health Care Technology - 0.4% | |||
Allscripts Healthcare Solutions, Inc. (a) | 24,040 | 274,296 | |
athenahealth, Inc. (a)(b) | 5,100 | 683,298 | |
Cerner Corp. (a) | 41,652 | 2,721,958 | |
Computer Programs & Systems, Inc. | 2,089 | 69,773 | |
Connecture, Inc. (a) | 3,785 | 3,179 | |
Fulgent Genetics, Inc. | 2,725 | 16,813 | |
HealthStream, Inc. (a)(b) | 4,201 | 117,082 | |
HMS Holdings Corp. (a) | 10,702 | 194,990 | |
Inovalon Holdings, Inc. Class A (a)(b) | 8,677 | 118,007 | |
Medidata Solutions, Inc. (a) | 7,378 | 525,166 | |
NantHealth, Inc. (b) | 15,750 | 48,668 | |
Omnicell, Inc. (a) | 4,563 | 182,064 | |
Quality Systems, Inc. (a) | 8,481 | 130,268 | |
Simulations Plus, Inc. | 2,863 | 34,929 | |
Tabula Rasa HealthCare, Inc. | 2,368 | 31,376 | |
5,151,867 | |||
Life Sciences Tools & Services - 0.7% | |||
Accelerate Diagnostics, Inc. (a)(b) | 6,438 | 179,620 | |
Albany Molecular Research, Inc. (a)(b) | 6,099 | 118,687 | |
Bio-Techne Corp. | 4,762 | 533,725 | |
Bruker Corp. | 20,684 | 562,812 | |
ChromaDex, Inc. (a)(b) | 6,379 | 20,923 | |
Compugen Ltd. (a)(b) | 7,275 | 34,920 | |
Fluidigm Corp. (a)(b) | 3,339 | 15,126 | |
Harvard Bioscience, Inc. (a) | 6,472 | 14,886 | |
ICON PLC (a)(b) | 7,033 | 661,805 | |
Illumina, Inc. (a) | 18,741 | 3,323,904 | |
INC Research Holdings, Inc. Class A (a) | 6,971 | 396,301 | |
Luminex Corp. | 5,640 | 114,266 | |
Medpace Holdings, Inc. (b) | 5,221 | 145,248 | |
Nanostring Technologies, Inc. (a) | 3,091 | 56,689 | |
NeoGenomics, Inc. (a)(b) | 8,735 | 66,037 | |
Pacific Biosciences of California, Inc. (a)(b) | 12,692 | 41,884 | |
PAREXEL International Corp. (a) | 6,738 | 544,565 | |
PRA Health Sciences, Inc. (a) | 7,869 | 568,535 | |
pSivida Corp. (a) | 6,198 | 14,069 | |
QIAGEN NV (a) | 28,730 | 964,179 | |
VWR Corp. (a) | 16,963 | 560,797 | |
8,938,978 | |||
Pharmaceuticals - 0.9% | |||
AcelRx Pharmaceuticals, Inc. (a)(b) | 5,551 | 13,878 | |
Achaogen, Inc. (a)(b) | 4,629 | 93,413 | |
Aclaris Therapeutics, Inc. (a) | 3,446 | 81,946 | |
Adamis Pharmaceuticals Corp. (a)(b) | 2,504 | 9,640 | |
Aerie Pharmaceuticals, Inc. (a) | 4,419 | 245,034 | |
Agile Therapeutics, Inc. (a)(b) | 3,823 | 12,539 | |
Akari Therapeutics PLC sponsored ADR (a) | 1,737 | 10,648 | |
Akorn, Inc. (a) | 16,329 | 543,266 | |
Alcobra Pharma Ltd. (a) | 5,246 | 5,876 | |
Alimera Sciences, Inc. (a)(b) | 6,040 | 8,577 | |
Amphastar Pharmaceuticals, Inc. (a) | 5,893 | 100,594 | |
ANI Pharmaceuticals, Inc. (a)(b) | 1,595 | 69,686 | |
ANI Pharmaceuticals, Inc. rights (a) | 739 | 0 | |
Apricus Biosciences, Inc. (a)(b) | 957 | 880 | |
Aralez Pharmaceuticals, Inc. (a)(b) | 8,505 | 10,716 | |
Aratana Therapeutics, Inc. (a)(b) | 4,586 | 26,415 | |
Assembly Biosciences, Inc. (a) | 2,230 | 56,664 | |
AstraZeneca PLC rights (a) | 1,845 | 0 | |
Auris Medical Holding AG (a) | 4,911 | 2,972 | |
Avexis, Inc. (a) | 3,629 | 256,752 | |
Axsome Therapeutics, Inc. (a)(b) | 3,219 | 12,393 | |
BeyondSpring, Inc. | 1,792 | 62,541 | |
Bio Path Holdings, Inc. (a)(b) | 13,990 | 4,897 | |
Biodelivery Sciences International, Inc. (a)(b) | 9,123 | 20,071 | |
Cardiome Pharma Corp. (a)(b) | 4,489 | 18,476 | |
Cempra, Inc. (a) | 6,872 | 26,114 | |
Clearside Biomedical, Inc. | 2,635 | 18,129 | |
Collegium Pharmaceutical, Inc. (a)(b) | 3,761 | 30,915 | |
Concordia International Corp. (a)(b) | 6,721 | 8,771 | |
ContraVir Pharmaceuticals, Inc. (a) | 7,857 | 4,801 | |
Corcept Therapeutics, Inc. (a) | 14,721 | 166,495 | |
Corium International, Inc. (a) | 3,638 | 27,139 | |
CymaBay Therapeutics, Inc. (a)(b) | 2,677 | 13,117 | |
DepoMed, Inc. (a)(b) | 7,549 | 79,114 | |
Dermira, Inc. (a)(b) | 5,223 | 143,215 | |
Durect Corp. (a) | 20,802 | 25,586 | |
Egalet Corp. (a)(b) | 3,702 | 7,922 | |
Endo International PLC(a) | 28,936 | 381,376 | |
Endocyte, Inc. (a) | 8,234 | 20,997 | |
Flamel Technologies SA sponsored ADR (a) | 5,017 | 49,518 | |
Flex Pharma, Inc. (a)(b) | 2,646 | 9,287 | |
Foamix Pharmaceuticals Ltd. (a) | 5,502 | 24,264 | |
Gemphire Therapeutics, Inc. | 1,231 | 12,187 | |
GW Pharmaceuticals PLC ADR (a)(b) | 2,875 | 283,504 | |
Heska Corp. (a) | 802 | 79,125 | |
Horizon Pharma PLC (a) | 20,896 | 208,960 | |
Impax Laboratories, Inc. (a) | 9,321 | 142,145 | |
Imprimis Pharmaceuticals, Inc. (a)(b) | 2,315 | 7,223 | |
Innocoll Holdings PLC (a)(b) | 3,827 | 8,228 | |
Innoviva, Inc. (a)(b) | 15,011 | 183,434 | |
IntelliPharmaCeutics International Corp. (a)(b) | 4,725 | 8,978 | |
Intersect ENT, Inc. (a) | 3,878 | 98,113 | |
Intra-Cellular Therapies, Inc. (a)(b) | 5,460 | 55,965 | |
Jazz Pharmaceuticals PLC (a) | 7,655 | 1,114,262 | |
Juniper Pharmaceuticals, Inc. (a) | 1,423 | 6,119 | |
KemPharm, Inc. (a)(b) | 2,163 | 9,409 | |
Lipocine, Inc. (a)(b) | 2,464 | 9,043 | |
Marinus Pharmaceuticals, Inc. (a) | 2,160 | 2,506 | |
MediWound Ltd. (a) | 3,336 | 23,185 | |
Merus B.V. | 2,569 | 49,736 | |
Mylan N.V. (a) | 68,328 | 2,663,425 | |
MyoKardia, Inc. (a) | 4,364 | 56,296 | |
Nektar Therapeutics (a) | 20,658 | 410,681 | |
Neos Therapeutics, Inc. (a)(b) | 2,219 | 18,640 | |
NeuroDerm Ltd. (a)(b) | 3,419 | 81,543 | |
Novan, Inc. (b) | 2,236 | 11,068 | |
Novus Therapeutics, Inc. (a)(b) | 353 | 1,807 | |
ObsEva SA | 3,111 | 26,039 | |
Ocera Therapeutics, Inc. (a)(b) | 4,420 | 4,774 | |
Ocular Therapeutix, Inc. (a)(b) | 2,940 | 29,988 | |
Omeros Corp. (a)(b) | 5,154 | 77,877 | |
Oncobiologics, Inc. (a)(b) | 4,327 | 6,577 | |
Orexigen Therapeutics, Inc. (a)(b) | 2,107 | 6,026 | |
Pacira Pharmaceuticals, Inc. (a) | 4,930 | 218,892 | |
Pain Therapeutics, Inc. (a)(b) | 1,219 | 4,571 | |
Paratek Pharmaceuticals, Inc. (a)(b) | 3,398 | 68,130 | |
Pernix Therapeutics Holdings, Inc. (a)(b) | 596 | 2,199 | |
Phibro Animal Health Corp. Class A | 2,175 | 76,669 | |
Plx Pharma PLC/New (a) | 230 | 1,346 | |
Reata Pharmaceuticals, Inc. (b) | 1,877 | 51,862 | |
RedHill Biopharma Ltd. sponsored ADR (a)(b) | 1,394 | 13,076 | |
Repros Therapeutics, Inc. (a) | 2,854 | 1,341 | |
Revance Therapeutics, Inc. (a) | 3,635 | 80,879 | |
SciClone Pharmaceuticals, Inc. (a) | 6,224 | 59,128 | |
SCYNEXIS, Inc. (a)(b) | 3,593 | 5,713 | |
SenesTech, Inc. | 1,260 | 7,686 | |
Sonoma Pharmaceuticals, Inc. (a) | 2,047 | 14,390 | |
SteadyMed Ltd. (a) | 2,775 | 19,286 | |
Sucampo Pharmaceuticals, Inc. Class A (a)(b) | 5,354 | 53,540 | |
Supernus Pharmaceuticals, Inc. (a) | 6,737 | 253,311 | |
Teligent, Inc. (a)(b) | 7,764 | 64,286 | |
Tetraphase Pharmaceuticals, Inc. (a) | 4,715 | 32,486 | |
The Medicines Company (a)(b) | 9,184 | 365,248 | |
Theravance Biopharma, Inc. (a)(b) | 6,688 | 244,112 | |
Titan Pharmaceuticals, Inc. (a)(b) | 4,736 | 11,130 | |
VIVUS, Inc. (a) | 12,501 | 14,251 | |
WAVE Life Sciences (a) | 3,119 | 58,949 | |
Zogenix, Inc. (a)(b) | 2,794 | 35,484 | |
Zynerba Pharmaceuticals, Inc. (a) | 1,833 | 34,149 | |
10,193,611 | |||
TOTAL HEALTH CARE | 143,481,272 | ||
INDUSTRIALS - 4.3% | |||
Aerospace & Defense - 0.2% | |||
AeroVironment, Inc. (a)(b) | 3,094 | 96,038 | |
Arotech Corp. (a)(b) | 2,775 | 9,227 | |
Astronics Corp. (a) | 2,465 | 75,429 | |
Axon Enterprise, Inc. (a)(b) | 6,374 | 153,040 | |
Elbit Systems Ltd. (b) | 5,408 | 660,749 | |
Innovative Solutions & Support, Inc. (a) | 2,794 | 11,176 | |
KEYW Holding Corp. (a)(b) | 5,855 | 53,925 | |
KLX, Inc. (a) | 6,716 | 324,987 | |
Kratos Defense & Security Solutions, Inc. (a) | 8,973 | 97,088 | |
LMI Aerospace, Inc. (a) | 2,265 | 31,551 | |
Mercury Systems, Inc. (a) | 5,993 | 238,342 | |
1,751,552 | |||
Air Freight & Logistics - 0.3% | |||
Air Transport Services Group, Inc. (a) | 7,502 | 178,923 | |
Atlas Air Worldwide Holdings, Inc. (a) | 3,344 | 162,853 | |
C.H. Robinson Worldwide, Inc. (b) | 18,104 | 1,213,149 | |
Echo Global Logistics, Inc. (a) | 4,178 | 77,920 | |
Expeditors International of Washington, Inc. | 23,141 | 1,235,267 | |
Forward Air Corp. | 3,920 | 204,350 | |
Hub Group, Inc. Class A (a) | 3,980 | 142,683 | |
Park-Ohio Holdings Corp. | 1,631 | 60,510 | |
3,275,655 | |||
Airlines - 0.6% | |||
Allegiant Travel Co. | 2,183 | 299,071 | |
American Airlines Group, Inc. | 65,861 | 3,188,331 | |
Hawaiian Holdings, Inc. (a) | 6,965 | 348,947 | |
JetBlue Airways Corp. (a) | 41,483 | 930,049 | |
Ryanair Holdings PLC sponsored ADR (a) | 13,397 | 1,429,996 | |
SkyWest, Inc. | 6,491 | 222,641 | |
Spirit Airlines, Inc. (a) | 8,898 | 472,484 | |
6,891,519 | |||
Building Products - 0.1% | |||
AAON, Inc. (b) | 6,522 | 235,933 | |
American Woodmark Corp. (a) | 2,069 | 192,003 | |
Apogee Enterprises, Inc. | 3,926 | 209,177 | |
Builders FirstSource, Inc. (a) | 14,272 | 194,956 | |
Caesarstone Sdot-Yam Ltd. (a) | 4,319 | 162,178 | |
CSW Industrials, Inc. (a) | 1,917 | 67,670 | |
Gibraltar Industries, Inc. (a) | 4,087 | 127,106 | |
Insteel Industries, Inc. (b) | 2,559 | 81,274 | |
Patrick Industries, Inc. (a) | 2,017 | 133,525 | |
Universal Forest Products, Inc. | 2,597 | 228,354 | |
1,632,176 | |||
Commercial Services & Supplies - 0.5% | |||
Aqua Metals, Inc. (a)(b) | 2,605 | 30,921 | |
Casella Waste Systems, Inc. Class A (a) | 5,023 | 70,422 | |
CECO Environmental Corp. | 4,418 | 41,529 | |
China Recycling Energy Corp. (a) | 510 | 775 | |
Cintas Corp. | 13,307 | 1,675,085 | |
Copart, Inc. (a) | 29,148 | 909,126 | |
Essendant, Inc. | 4,930 | 79,373 | |
Fuel Tech, Inc. (a) | 3,147 | 2,769 | |
Healthcare Services Group, Inc. | 9,313 | 445,813 | |
Heritage-Crystal Clean, Inc. (a) | 3,094 | 47,184 | |
Herman Miller, Inc. | 7,800 | 246,090 | |
Hudson Technologies, Inc. (a) | 5,207 | 42,489 | |
InnerWorkings, Inc. (a) | 8,041 | 87,164 | |
Interface, Inc. | 8,644 | 177,634 | |
Intersections, Inc. (a) | 2,157 | 10,289 | |
Kimball International, Inc. Class B | 4,622 | 79,406 | |
Matthews International Corp. Class A | 4,084 | 260,355 | |
McGrath RentCorp. | 3,185 | 105,646 | |
Mobile Mini, Inc. | 5,747 | 160,916 | |
Multi-Color Corp. | 2,165 | 185,974 | |
Odyssey Marine Exploration, Inc. (a)(b) | 1,055 | 3,365 | |
Perma-Fix Environmental Services, Inc. (a) | 1,870 | 6,452 | |
SP Plus Corp. (a) | 3,044 | 89,798 | |
Stericycle, Inc. (a) | 10,913 | 892,356 | |
Tetra Tech, Inc. | 7,156 | 328,818 | |
U.S. Ecology, Inc. | 2,706 | 135,368 | |
VSE Corp. | 1,286 | 53,806 | |
West Corp. | 10,655 | 246,876 | |
6,415,799 | |||
Construction & Engineering - 0.0% | |||
Aegion Corp. (a) | 4,663 | 92,281 | |
Great Lakes Dredge & Dock Corp. (a) | 8,236 | 34,179 | |
Ies Holdings, Inc. (a) | 2,861 | 43,916 | |
Layne Christensen Co. (a)(b) | 2,902 | 21,098 | |
MYR Group, Inc. (a) | 1,972 | 57,898 | |
Northwest Pipe Co. (a) | 1,568 | 22,360 | |
NV5 Holdings, Inc. (a)(b) | 1,134 | 41,618 | |
Primoris Services Corp. | 7,071 | 164,047 | |
Sterling Construction Co., Inc. (a) | 4,576 | 46,584 | |
523,981 | |||
Electrical Equipment - 0.1% | |||
Allied Motion Technologies, Inc. | 1,277 | 32,155 | |
American Superconductor Corp. (a)(b) | 2,317 | 9,546 | |
Ballard Power Systems, Inc. (a)(b) | 23,349 | 64,472 | |
Broadwind Energy, Inc. (a) | 1,178 | 5,772 | |
Capstone Turbine Corp. (a) | 2,036 | 1,242 | |
Encore Wire Corp. | 2,524 | 104,367 | |
Energous Corp. (a)(b) | 2,770 | 42,741 | |
Energy Focus, Inc. (a)(b) | 1,326 | 4,270 | |
Enphase Energy, Inc. (a) | 13,796 | 10,485 | |
FuelCell Energy, Inc. (a)(b) | 4,753 | 4,583 | |
Highpower International, Inc. (a) | 3,519 | 16,539 | |
Hydrogenics Corp. (a)(b) | 837 | 5,985 | |
LSI Industries, Inc. | 3,940 | 34,790 | |
Plug Power, Inc. (a)(b) | 26,118 | 48,579 | |
Polar Power, Inc. | 1,340 | 6,955 | |
Powell Industries, Inc. | 1,667 | 54,894 | |
Revolution Lighting Technologies, Inc. (a)(b) | 3,014 | 23,690 | |
Sunrun, Inc. (a)(b) | 12,164 | 61,307 | |
TPI Composites, Inc. | 4,520 | 76,930 | |
Ultralife Corp. (a) | 2,941 | 18,822 | |
Vicor Corp. (a) | 3,600 | 61,020 | |
689,144 | |||
Industrial Conglomerates - 0.1% | |||
Icahn Enterprises LP | 19,920 | 950,184 | |
Raven Industries, Inc. | 4,816 | 163,022 | |
1,113,206 | |||
Machinery - 0.7% | |||
Altra Industrial Motion Corp. | 3,399 | 146,837 | |
American Railcar Industries, Inc. (b) | 2,752 | 97,668 | |
Astec Industries, Inc. | 2,951 | 165,167 | |
Blue Bird Corp. (a)(b) | 2,428 | 44,311 | |
Chart Industries, Inc. (a) | 3,985 | 136,885 | |
Columbus McKinnon Corp. (NY Shares) | 2,891 | 80,775 | |
Commercial Vehicle Group, Inc. (a) | 4,420 | 35,714 | |
Dmc Global, Inc. | 1,470 | 18,596 | |
Eastern Co. | 1,148 | 34,957 | |
Energy Recovery, Inc. (a)(b) | 6,829 | 51,832 | |
ExOne Co. (a)(b) | 1,622 | 21,346 | |
Franklin Electric Co., Inc. | 5,990 | 228,818 | |
FreightCar America, Inc. | 1,481 | 24,822 | |
Gencor Industries, Inc. (a) | 1,080 | 17,496 | |
Hardinge, Inc. | 2,657 | 32,150 | |
Hurco Companies, Inc. | 654 | 19,031 | |
Jason Industries, Inc. (a) | 3,385 | 4,536 | |
Kornit Digital Ltd. (a) | 4,732 | 79,261 | |
L.B. Foster Co. Class A | 1,092 | 19,601 | |
Lincoln Electric Holdings, Inc. | 8,499 | 759,641 | |
Manitex International, Inc. (a) | 1,777 | 12,759 | |
Middleby Corp. (a) | 7,356 | 944,216 | |
NN, Inc. | 3,591 | 102,703 | |
Nordson Corp. | 7,257 | 840,941 | |
Omega Flex, Inc. | 1,470 | 89,993 | |
PACCAR, Inc. | 44,837 | 2,822,938 | |
RBC Bearings, Inc. (a)(b) | 2,948 | 298,691 | |
Spartan Motors, Inc. | 5,255 | 45,193 | |
Sun Hydraulics Corp. | 3,430 | 146,770 | |
TriMas Corp. (a) | 6,223 | 135,661 | |
Twin Disc, Inc. (a) | 1,127 | 20,173 | |
Westport Fuel Systems, Inc. (a)(b) | 13,390 | 21,156 | |
Woodward, Inc. | 7,894 | 537,739 | |
8,038,377 | |||
Marine - 0.0% | |||
Diana Containerships, Inc. | 604 | 215 | |
DryShips, Inc. | 182 | 433 | |
Eagle Bulk Shipping, Inc. (a) | 8,602 | 40,343 | |
Euroseas Ltd. (a)(b) | 445 | 574 | |
Globus Maritime Ltd. (a)(b) | 3,075 | 3,567 | |
Golden Ocean Group Ltd. (a) | 15,699 | 88,700 | |
Rand Logistics, Inc. (a) | 3,440 | 2,098 | |
Star Bulk Carriers Corp. (a)(b) | 7,058 | 56,041 | |
191,971 | |||
Professional Services - 0.5% | |||
51job, Inc. sponsored ADR (a)(b) | 3,300 | 143,847 | |
Acacia Research Corp. (a) | 5,840 | 23,068 | |
Advisory Board Co. (a) | 5,304 | 274,217 | |
Barrett Business Services, Inc. | 898 | 51,249 | |
Cogint, Inc. (a) | 10,391 | 56,111 | |
CRA International, Inc. | 1,193 | 41,242 | |
Exponent, Inc. | 3,291 | 195,156 | |
Heidrick & Struggles International, Inc. | 2,456 | 52,927 | |
Huron Consulting Group, Inc. (a) | 2,628 | 109,193 | |
ICF International, Inc. (a) | 2,599 | 122,283 | |
IHS Markit Ltd. (a) | 55,648 | 2,551,461 | |
Kelly Services, Inc. Class A (non-vtg.) | 4,620 | 107,323 | |
Kforce, Inc. | 3,502 | 63,036 | |
Resources Connection, Inc. | 4,770 | 59,864 | |
RPX Corp. (a) | 6,382 | 84,498 | |
Verisk Analytics, Inc. (a) | 21,489 | 1,738,245 | |
Willdan Group, Inc. (a) | 1,245 | 41,421 | |
5,715,141 | |||
Road & Rail - 0.9% | |||
AMERCO | 2,515 | 928,664 | |
ArcBest Corp. | 3,289 | 61,833 | |
Avis Budget Group, Inc. (a)(b) | 11,254 | 257,604 | |
Covenant Transport Group, Inc. Class A (a) | 1,838 | 33,856 | |
CSX Corp. | 119,232 | 6,458,797 | |
Heartland Express, Inc. (b) | 10,264 | 199,635 | |
Hennessy Capital Acquisition Corp. II (a) | 1,180 | 11,139 | |
J.B. Hunt Transport Services, Inc. | 14,282 | 1,219,397 | |
Landstar System, Inc. | 5,375 | 449,081 | |
Marten Transport Ltd. | 3,831 | 94,817 | |
Old Dominion Freight Lines, Inc. | 10,494 | 937,324 | |
P.A.M. Transportation Services, Inc. (a) | 933 | 16,458 | |
Patriot Transportation Holding, Inc. (a) | 570 | 10,887 | |
Saia, Inc. (a) | 3,097 | 143,081 | |
Student Transportation, Inc. (b) | 13,149 | 78,942 | |
U.S.A. Truck, Inc. (a)(b) | 1,372 | 9,041 | |
Universal Logistics Holdings, Inc. | 85 | 1,173 | |
Werner Enterprises, Inc. (b) | 9,366 | 255,224 | |
YRC Worldwide, Inc. (a)(b) | 4,122 | 37,881 | |
11,204,834 | |||
Trading Companies & Distributors - 0.3% | |||
Beacon Roofing Supply, Inc. (a) | 7,548 | 364,040 | |
BMC Stock Holdings, Inc. (a) | 8,946 | 174,447 | |
DXP Enterprises, Inc. (a) | 2,262 | 81,047 | |
Fastenal Co. | 36,838 | 1,590,296 | |
H&E Equipment Services, Inc. | 4,214 | 83,816 | |
HD Supply Holdings, Inc. (a) | 25,688 | 1,036,511 | |
Houston Wire & Cable Co. | 2,510 | 16,315 | |
Huttig Building Products, Inc. (a) | 5,446 | 34,854 | |
Lawson Products, Inc. (a) | 1,296 | 27,605 | |
Nexeo Solutions, Inc. (a) | 12,891 | 113,441 | |
Rush Enterprises, Inc.: | |||
Class A (a) | 4,723 | 169,320 | |
Class B (a) | 8,027 | 264,650 | |
Titan Machinery, Inc. (a) | 2,706 | 45,596 | |
Willis Lease Finance Corp. (a) | 653 | 17,056 | |
4,018,994 | |||
Transportation Infrastructure - 0.0% | |||
Grupo Aeroportuario Norte S.A.B. de CV ADR (b) | 997 | 43,021 | |
Yangtze River Development Ltd. (a)(b) | 23,359 | 275,636 | |
318,657 | |||
TOTAL INDUSTRIALS | 51,781,006 | ||
INFORMATION TECHNOLOGY - 49.7% | |||
Communications Equipment - 2.4% | |||
ADTRAN, Inc. | 5,745 | 110,591 | |
Applied Optoelectronics, Inc. (a)(b) | 2,214 | 154,581 | |
Arris International PLC (a) | 24,466 | 686,027 | |
AudioCodes Ltd. (a) | 6,468 | 42,818 | |
Aviat Networks, Inc. (a) | 624 | 10,926 | |
Bel Fuse, Inc. Class B (non-vtg.) | 1,187 | 28,488 | |
Black Box Corp. | 2,548 | 20,894 | |
Brocade Communications Systems, Inc. | 51,183 | 646,441 | |
CalAmp Corp. (a)(b) | 5,019 | 94,859 | |
Ceragon Networks Ltd. (a) | 9,971 | 29,315 | |
Cisco Systems, Inc. | 640,337 | 20,189,826 | |
Clearfield, Inc. (a)(b) | 2,122 | 27,692 | |
CommScope Holding Co., Inc. (a) | 24,631 | 911,101 | |
Communications Systems, Inc. | 58 | 262 | |
Comtech Telecommunications Corp. | 3,241 | 46,768 | |
Digi International, Inc. (a) | 3,398 | 32,451 | |
DragonWave, Inc. (a) | 172 | 127 | |
EchoStar Holding Corp. Class A (a) | 5,786 | 341,663 | |
EMCORE Corp. | 3,995 | 40,150 | |
EXFO, Inc. (sub. vtg.) (a) | 2,947 | 14,289 | |
Extreme Networks, Inc. (a) | 13,199 | 127,106 | |
F5 Networks, Inc. (a) | 8,381 | 1,073,858 | |
Finisar Corp. (a) | 14,193 | 349,999 | |
Gilat Satellite Networks Ltd. (a) | 2,341 | 11,447 | |
Harmonic, Inc. (a)(b) | 10,743 | 54,252 | |
Infinera Corp. (a)(b) | 17,907 | 174,056 | |
InterDigital, Inc. | 4,417 | 357,777 | |
Ituran Location & Control Ltd. (a) | 2,757 | 88,775 | |
KVH Industries, Inc. (a) | 2,313 | 21,858 | |
Lumentum Holdings, Inc. (a) | 7,694 | 438,943 | |
Mitel Networks Corp. (a)(b) | 16,666 | 118,162 | |
NETGEAR, Inc. (a) | 4,139 | 173,631 | |
NetScout Systems, Inc. (a) | 11,837 | 433,234 | |
Oclaro, Inc. (a)(b) | 20,856 | 185,201 | |
Parkervision, Inc. (a)(b) | 1,331 | 2,995 | |
PC-Tel, Inc. | 3,632 | 23,317 | |
Radcom Ltd. (a)(b) | 1,972 | 40,426 | |
Radware Ltd. (a) | 5,566 | 98,017 | |
ShoreTel, Inc. (a) | 8,826 | 51,191 | |
Sierra Wireless, Inc. (a) | 4,276 | 115,886 | |
Silicom Ltd. | 1,127 | 57,443 | |
Sonus Networks, Inc. (a) | 7,355 | 49,646 | |
Telefonaktiebolaget LM Ericsson (B Shares) sponsored ADR | 40,841 | 295,689 | |
Tessco Technologies, Inc. | 1,129 | 15,693 | |
Ubiquiti Networks, Inc. (a)(b) | 10,591 | 499,472 | |
UTStarcom Holdings Corp. (a) | 4,515 | 9,888 | |
ViaSat, Inc. (a)(b) | 7,371 | 480,958 | |
Viavi Solutions, Inc. (a) | 30,331 | 340,617 | |
29,118,806 | |||
Electronic Equipment & Components - 1.1% | |||
Agilysys, Inc. (a) | 3,430 | 33,991 | |
Cardtronics PLC | 5,665 | 194,026 | |
CDW Corp. | 20,400 | 1,227,672 | |
Cognex Corp. | 10,943 | 1,001,394 | |
Coherent, Inc. (a) | 3,125 | 775,469 | |
Control4 Corp. (a)(b) | 3,902 | 77,455 | |
CUI Global, Inc. (a) | 3,398 | 12,437 | |
Daktronics, Inc. | 5,739 | 56,988 | |
Echelon Corp. (a) | 594 | 4,069 | |
Electro Scientific Industries, Inc. (a) | 5,617 | 46,958 | |
ePlus, Inc. (a) | 1,866 | 146,948 | |
FARO Technologies, Inc. (a) | 2,254 | 78,327 | |
Flextronics International Ltd. (a) | 68,626 | 1,184,485 | |
FLIR Systems, Inc. | 17,450 | 661,181 | |
Hollysys Automation Technologies Ltd. (b) | 7,501 | 119,941 | |
I. D. Systems Inc. (a) | 1,961 | 12,962 | |
Identiv, Inc. (a) | 993 | 5,491 | |
II-VI, Inc. (a) | 7,754 | 232,620 | |
Insight Enterprises, Inc.(a) | 4,608 | 191,416 | |
IPG Photonics Corp. (a) | 6,861 | 953,953 | |
Iteris, Inc. (a) | 5,662 | 32,160 | |
Itron, Inc. (a) | 5,011 | 338,994 | |
Kimball Electronics, Inc. (a) | 3,936 | 68,486 | |
Littelfuse, Inc. | 2,794 | 452,488 | |
Magal Security Systems Ltd. (a) | 1,643 | 7,706 | |
Maxwell Technologies, Inc. (a) | 3,577 | 20,711 | |
Mesa Laboratories, Inc. (b) | 511 | 79,890 | |
MicroVision, Inc. (a)(b) | 8,527 | 16,798 | |
MOCON, Inc. | 1,499 | 44,895 | |
MTS Systems Corp. (b) | 2,256 | 116,974 | |
Napco Security Technolgies, Inc. (a) | 2,550 | 24,353 | |
National Instruments Corp. | 16,272 | 620,777 | |
Neonode, Inc. (a)(b) | 4,521 | 5,516 | |
NetList, Inc. (a)(b) | 7,410 | 9,559 | |
Novanta, Inc. (a) | 4,900 | 166,600 | |
Orbotech Ltd. (a) | 6,245 | 222,822 | |
OSI Systems, Inc. (a) | 2,570 | 203,518 | |
PC Connection, Inc. | 3,197 | 83,378 | |
PC Mall, Inc. (a)(b) | 1,729 | 34,061 | |
Plexus Corp. (a) | 4,089 | 212,546 | |
RadiSys Corp. (a) | 5,841 | 22,021 | |
Research Frontiers, Inc. (a)(b) | 4,244 | 4,541 | |
Richardson Electronics Ltd. | 1,570 | 9,483 | |
Sanmina Corp. (a) | 9,251 | 338,587 | |
ScanSource, Inc. (a) | 3,495 | 132,810 | |
Supercom Ltd. (a)(b) | 2,662 | 7,374 | |
Tech Data Corp. (a) | 4,422 | 428,801 | |
Trimble, Inc. (a) | 31,891 | 1,149,352 | |
TTM Technologies, Inc. (a)(b) | 13,161 | 213,735 | |
Uni-Pixel, Inc. (a)(b) | 4,236 | 1,758 | |
Universal Display Corp. (b) | 6,041 | 685,049 | |
Zebra Technologies Corp. Class A (a) | 6,791 | 708,573 | |
13,482,099 | |||
Internet Software & Services - 13.7% | |||
21Vianet Group, Inc. ADR (a)(b) | 6,770 | 36,220 | |
2U, Inc. (a)(b) | 6,252 | 267,273 | |
Actua Corp. (a)(b) | 5,267 | 73,738 | |
Akamai Technologies, Inc. (a) | 22,132 | 1,043,524 | |
Alarm.com Holdings, Inc. (a) | 5,941 | 193,380 | |
Alphabet, Inc.: | |||
Class A (a) | 38,029 | 37,538,046 | |
Class C (a) | 44,457 | 42,894,781 | |
Angie's List, Inc. (a)(b) | 8,430 | 101,497 | |
AppFolio, Inc. (a) | 1,845 | 52,859 | |
Apptio, Inc. Class A | 906 | 14,967 | |
Autobytel, Inc. (a) | 1,133 | 14,264 | |
Baidu.com, Inc. sponsored ADR (a) | 35,142 | 6,539,926 | |
Baozun, Inc. sponsored ADR (a)(b) | 3,451 | 70,918 | |
Bazaarvoice, Inc. (a) | 10,663 | 48,517 | |
Benefitfocus, Inc. (a)(b) | 3,921 | 124,688 | |
BlackLine, Inc. | 6,552 | 221,196 | |
Blucora, Inc. (a) | 5,597 | 114,739 | |
Brightcove, Inc. (a) | 4,704 | 27,989 | |
Carbonite, Inc. (a) | 3,718 | 69,155 | |
China Finance Online Co. Ltd. ADR (a) | 7,038 | 14,287 | |
ChinaCache International Holdings Ltd. sponsored ADR (a) | 1,402 | 1,290 | |
Cimpress NV (a)(b) | 4,030 | 356,010 | |
CommerceHub, Inc.: | |||
Series A (a)(b) | 2,580 | 43,912 | |
Series C (a) | 3,556 | 61,092 | |
Cornerstone OnDemand, Inc. (a) | 7,303 | 272,840 | |
CoStar Group, Inc. (a) | 4,146 | 1,084,469 | |
Coupa Software, Inc. (b) | 6,679 | 228,555 | |
Criteo SA sponsored ADR (a)(b) | 7,889 | 413,620 | |
eBay, Inc. (a) | 138,778 | 4,760,085 | |
eGain Communications Corp. (a) | 130 | 208 | |
Endurance International Group Holdings, Inc. (a)(b) | 17,257 | 130,290 | |
Facebook, Inc. Class A (a) | 301,600 | 45,680,336 | |
Five9, Inc. (a) | 6,764 | 151,987 | |
Gogo, Inc. (a)(b) | 11,796 | 152,522 | |
Hortonworks, Inc. (a) | 8,308 | 102,687 | |
IAC/InterActiveCorp (a) | 9,484 | 1,008,529 | |
Internap Network Services Corp. (a)(b) | 10,934 | 36,738 | |
j2 Global, Inc. | 6,175 | 522,529 | |
Limelight Networks, Inc. (a) | 13,895 | 40,990 | |
Liquidity Services, Inc. (a) | 3,877 | 24,037 | |
LivePerson, Inc. (a) | 7,497 | 71,596 | |
LogMeIn, Inc. | 6,730 | 747,030 | |
Marchex, Inc. Class B (a)(b) | 3,792 | 10,656 | |
Match Group, Inc. (a)(b) | 5,639 | 109,848 | |
MeetMe, Inc. (a)(b) | 6,425 | 29,748 | |
MercadoLibre, Inc. | 5,644 | 1,552,721 | |
Mimecast Ltd. (a) | 7,329 | 196,564 | |
MINDBODY, Inc. (a)(b) | 3,564 | 99,970 | |
Momo, Inc. ADR (a) | 9,911 | 377,014 | |
Net Element International, Inc. (a) | 309 | 232 | |
NetEase, Inc. ADR | 9,654 | 2,749,266 | |
NIC, Inc. | 8,051 | 163,033 | |
NumereX Corp. Class A (a) | 2,704 | 11,168 | |
Nutanix, Inc. Class A (a)(b) | 6,215 | 115,910 | |
Perion Network Ltd. (a) | 10,983 | 18,891 | |
Points International Ltd. (a) | 2,601 | 25,178 | |
QuinStreet, Inc. (a) | 9,172 | 35,633 | |
Qumu Corp. (a) | 1,284 | 3,685 | |
Reis, Inc. | 1,841 | 34,795 | |
Rightside Group Ltd. (a) | 80 | 729 | |
Rocket Fuel, Inc. (a)(b) | 5,998 | 18,174 | |
SecureWorks Corp. (a) | 2,108 | 22,935 | |
SINA Corp. | 9,091 | 890,645 | |
Sohu.com, Inc. (a)(b) | 4,977 | 223,418 | |
SPS Commerce, Inc. (a) | 2,224 | 129,348 | |
Stamps.com, Inc. (a)(b) | 2,205 | 304,070 | |
TechTarget, Inc. (a) | 32,350 | 294,385 | |
The Trade Desk, Inc. | 2,216 | 121,880 | |
Travelzoo, Inc. (a) | 2,451 | 25,368 | |
TrueCar, Inc. (a)(b) | 10,856 | 190,848 | |
Tucows, Inc. (a)(b) | 1,356 | 78,106 | |
VeriSign, Inc. (a)(b) | 13,194 | 1,189,571 | |
Web.com Group, Inc. (a) | 6,676 | 151,879 | |
WebMD Health Corp. (a)(b) | 5,061 | 283,315 | |
Weibo Corp. sponsored ADR (a)(b) | 7,040 | 517,651 | |
Wix.com Ltd. (a) | 5,425 | 399,823 | |
Xunlei Ltd. sponsored ADR (a)(b) | 3,240 | 11,340 | |
Yahoo!, Inc. (a) | 121,746 | 6,126,259 | |
Yandex NV Series A (a) | 35,466 | 939,140 | |
Yatra Online, Inc. (a) | 2,664 | 24,402 | |
YY, Inc. ADR (a)(b) | 4,153 | 242,286 | |
Zillow Group, Inc.: | |||
Class A(a)(b) | 7,134 | 313,111 | |
Class C (a)(b) | 14,998 | 652,713 | |
164,039,024 | |||
IT Services - 2.7% | |||
Acxiom Corp. (a) | 9,473 | 248,193 | |
ALJ Regional Holdings, Inc. (a) | 5,466 | 18,475 | |
Amdocs Ltd. | 18,896 | 1,224,083 | |
Automatic Data Processing, Inc. | 57,420 | 5,878,085 | |
Blackhawk Network Holdings, Inc. (a) | 7,327 | 317,625 | |
CardConnect Corp. (a)(b) | 3,991 | 59,865 | |
Cass Information Systems, Inc. | 1,519 | 93,024 | |
China Customer Relations Centers, Inc. (a)(b) | 2,246 | 35,756 | |
Cognizant Technology Solutions Corp. Class A | 77,639 | 5,194,825 | |
CSG Systems International, Inc. | 4,181 | 166,780 | |
Euronet Worldwide, Inc. (a) | 6,736 | 587,581 | |
ExlService Holdings, Inc. (a) | 4,312 | 225,819 | |
Fiserv, Inc. (a) | 27,473 | 3,441,817 | |
Forrester Research, Inc. | 2,422 | 95,427 | |
Hackett Group, Inc. | 4,075 | 59,740 | |
Information Services Group, Inc. (a) | 5,589 | 20,400 | |
Innodata, Inc. (a) | 148 | 281 | |
Jack Henry & Associates, Inc. | 9,804 | 1,041,283 | |
ManTech International Corp. Class A | 3,209 | 122,905 | |
Mattersight Corp. (a) | 3,433 | 9,097 | |
MoneyGram International, Inc. (a) | 6,884 | 119,919 | |
NCI, Inc. Class A (a) | 1,579 | 30,159 | |
Net 1 UEPS Technologies, Inc. (a) | 6,522 | 60,524 | |
Paychex, Inc. | 45,916 | 2,719,605 | |
PayPal Holdings, Inc. (a) | 154,327 | 8,057,413 | |
Perficient, Inc. (a) | 4,950 | 85,487 | |
PFSweb, Inc. (a) | 2,314 | 15,990 | |
Planet Payment, Inc. (a) | 8,800 | 30,360 | |
Presidio, Inc. | 10,820 | 166,303 | |
PRG-Schultz International, Inc. (a) | 3,094 | 20,730 | |
QIWI PLC Class B sponsored ADR | 6,130 | 141,664 | |
Sabre Corp. (b) | 35,598 | 798,463 | |
ServiceSource International, Inc. (a) | 10,165 | 35,171 | |
Sykes Enterprises, Inc. (a) | 5,586 | 186,181 | |
Syntel, Inc. (b) | 10,594 | 185,183 | |
Teletech Holdings, Inc. | 6,374 | 271,214 | |
Virtusa Corp. (a) | 3,730 | 108,245 | |
31,873,672 | |||
Semiconductors & Semiconductor Equipment - 9.9% | |||
Acacia Communications, Inc. (b) | 5,012 | 235,764 | |
Adesto Technologies Corp. (a) | 2,711 | 13,148 | |
Advanced Energy Industries, Inc. (a) | 4,900 | 376,957 | |
Advanced Micro Devices, Inc. (a)(b) | 120,028 | 1,343,113 | |
AEHR Test Systems (a) | 2,413 | 11,052 | |
Alpha & Omega Semiconductor Ltd. (a) | 2,706 | 50,386 | |
Ambarella, Inc. (a)(b) | 4,263 | 249,556 | |
Amkor Technology, Inc. (a) | 30,055 | 340,824 | |
Amtech Systems, Inc. (a) | 4,136 | 33,378 | |
Analog Devices, Inc. | 46,921 | 4,023,945 | |
Applied Materials, Inc. | 137,918 | 6,327,678 | |
ASML Holding NV (b) | 8,630 | 1,139,074 | |
Atomera, Inc. | 1,610 | 7,309 | |
Axcelis Technologies, Inc. (a) | 4,043 | 87,935 | |
AXT, Inc. (a) | 4,070 | 27,066 | |
Broadcom Ltd. | 51,295 | 12,284,127 | |
Brooks Automation, Inc. | 9,221 | 254,039 | |
Cabot Microelectronics Corp. | 3,191 | 240,889 | |
Canadian Solar, Inc. (a)(b) | 7,231 | 92,629 | |
Cavium, Inc. (a) | 8,532 | 622,580 | |
Ceva, Inc. (a) | 2,915 | 123,159 | |
ChipMOS TECHNOLOGIES, Inc. sponsored ADR | 3,263 | 65,880 | |
Cirrus Logic, Inc. (a) | 8,114 | 535,118 | |
Cohu, Inc. | 4,191 | 76,821 | |
Cree, Inc. (a) | 12,889 | 307,338 | |
CyberOptics Corp. (a) | 993 | 21,796 | |
Cypress Semiconductor Corp. (b) | 41,165 | 575,898 | |
Diodes, Inc. (a) | 6,468 | 165,645 | |
DSP Group, Inc. (a) | 3,793 | 44,947 | |
Entegris, Inc. (a) | 17,986 | 444,254 | |
Experi Corp. | 5,907 | 181,050 | |
First Solar, Inc. (a)(b) | 13,193 | 508,062 | |
FormFactor, Inc. (a) | 9,514 | 139,856 | |
GSI Technology, Inc. (a) | 2,527 | 20,747 | |
Hanwha Solarone Co. Ltd. sponsored ADR (a)(b) | 565 | 4,034 | |
Himax Technologies, Inc. sponsored ADR (b) | 13,188 | 90,470 | |
Ichor Holdings Ltd. | 3,007 | 70,604 | |
Impinj, Inc. | 2,455 | 107,161 | |
Integrated Device Technology, Inc. (a) | 17,252 | 441,306 | |
Intel Corp. | 605,483 | 21,863,991 | |
IXYS Corp. | 4,067 | 59,988 | |
JA Solar Holdings Co. Ltd. ADR (a)(b) | 5,595 | 38,494 | |
KLA-Tencor Corp. | 19,935 | 2,073,240 | |
Kopin Corp. (a) | 10,786 | 37,212 | |
Kulicke & Soffa Industries, Inc. (a) | 9,458 | 209,495 | |
Lam Research Corp. | 20,892 | 3,241,812 | |
Lattice Semiconductor Corp. (a) | 15,975 | 111,026 | |
M/A-COM Technology Solutions Holdings, Inc. (a)(b) | 7,907 | 482,090 | |
Marvell Technology Group Ltd. | 65,137 | 1,122,962 | |
Maxim Integrated Products, Inc. | 36,046 | 1,722,999 | |
Mellanox Technologies Ltd. (a)(b) | 6,229 | 295,878 | |
Microchip Technology, Inc. (b) | 27,459 | 2,287,335 | |
Micron Technology, Inc. (a) | 140,714 | 4,329,770 | |
Microsemi Corp. (a) | 14,578 | 715,926 | |
MKS Instruments, Inc. | 6,843 | 559,415 | |
Monolithic Power Systems, Inc. | 5,151 | 505,828 | |
MoSys, Inc. (a)(b) | 1,140 | 752 | |
Nanometrics, Inc. (a) | 3,609 | 100,330 | |
Nova Measuring Instruments Ltd. (a) | 3,973 | 97,259 | |
NVE Corp. | 735 | 58,021 | |
NVIDIA Corp. | 72,527 | 10,469,272 | |
NXP Semiconductors NV (a) | 44,331 | 4,871,977 | |
O2Micro International Ltd. sponsored ADR (a) | 5,298 | 10,914 | |
ON Semiconductor Corp. (a) | 53,508 | 828,304 | |
PDF Solutions, Inc. (a)(b) | 4,410 | 71,618 | |
Photronics, Inc. (a) | 9,022 | 90,671 | |
Pixelworks, Inc. (a)(b) | 1,924 | 9,543 | |
Power Integrations, Inc. | 3,709 | 248,318 | |
Qorvo, Inc. (a)(b) | 16,246 | 1,266,376 | |
Qualcomm, Inc. | 189,083 | 10,828,783 | |
QuickLogic Corp. (a)(b) | 8,614 | 10,423 | |
Rambus, Inc. (a) | 14,556 | 172,343 | |
Rubicon Technology, Inc. (a)(b) | 1,085 | 10,850 | |
SemiLEDs Corp. (a) | 353 | 1,034 | |
Semtech Corp. (a) | 8,483 | 324,051 | |
Sevcon, Inc. (a) | 825 | 12,235 | |
Sigma Designs, Inc. (a) | 5,321 | 33,256 | |
Silicon Laboratories, Inc. (a) | 5,306 | 396,889 | |
Silicon Motion Technology Corp. sponsored ADR (b) | 4,482 | 234,185 | |
Siliconware Precision Industries Co. Ltd. sponsored ADR | 8,455 | 70,684 | |
Skyworks Solutions, Inc. | 23,789 | 2,531,863 | |
SolarEdge Technologies, Inc. (a) | 5,148 | 95,753 | |
SunPower Corp. (a)(b) | 17,606 | 138,559 | |
Synaptics, Inc. (a)(b) | 4,579 | 254,409 | |
Texas Instruments, Inc. | 127,409 | 10,509,968 | |
Tower Semiconductor Ltd. (a)(b) | 12,281 | 311,446 | |
Ultra Clean Holdings, Inc. (a) | 4,566 | 104,287 | |
Veeco Instruments, Inc. (a) | 5,768 | 181,404 | |
Xcerra Corp. (a) | 7,140 | 69,329 | |
Xilinx, Inc. | 32,225 | 2,149,730 | |
117,907,892 | |||
Software - 10.6% | |||
8x8, Inc. (a) | 11,937 | 162,940 | |
ACI Worldwide, Inc. (a) | 15,435 | 352,844 | |
Activision Blizzard, Inc. | 96,192 | 5,634,927 | |
Adobe Systems, Inc. (a) | 63,439 | 8,999,457 | |
Allot Communications Ltd. (a) | 5,410 | 27,158 | |
American Software, Inc. Class A | 4,191 | 45,011 | |
ANSYS, Inc. (a) | 11,175 | 1,411,738 | |
Aspen Technology, Inc. (a) | 9,899 | 605,423 | |
Asure Software, Inc. (a) | 995 | 15,423 | |
Atlassian Corp. PLC (a)(b) | 9,555 | 341,687 | |
Attunity Ltd. (a) | 2,417 | 16,774 | |
Autodesk, Inc. (a) | 28,488 | 3,184,104 | |
Blackbaud, Inc. (b) | 6,051 | 500,599 | |
Bottomline Technologies, Inc. (a) | 5,059 | 126,526 | |
BroadSoft, Inc. (a) | 3,904 | 156,160 | |
CA Technologies, Inc. | 53,141 | 1,688,290 | |
Cadence Design Systems, Inc. (a) | 36,268 | 1,274,458 | |
Callidus Software, Inc. (a) | 8,416 | 201,142 | |
CDK Global, Inc. | 19,026 | 1,169,338 | |
Changyou.com Ltd. (A Shares) ADR (a) | 2,572 | 100,205 | |
Check Point Software Technologies Ltd. (a)(b) | 21,921 | 2,456,248 | |
Citrix Systems, Inc. (a) | 19,998 | 1,650,635 | |
CommVault Systems, Inc. (a) | 5,997 | 336,582 | |
CyberArk Software Ltd. (a)(b) | 4,434 | 217,310 | |
Datawatch Corp. (a) | 1,671 | 13,869 | |
Descartes Systems Group, Inc. (a) | 9,571 | 239,337 | |
Digimarc Corp. (a)(b) | 1,274 | 44,399 | |
Digital Turbine, Inc. (a)(b) | 11,223 | 12,458 | |
Ebix, Inc. (b) | 4,177 | 231,197 | |
Electronic Arts, Inc. (a) | 39,282 | 4,451,829 | |
EnerNOC, Inc. (a)(b) | 4,421 | 24,094 | |
Everbridge, Inc. | 3,659 | 94,622 | |
Exa Corp. (a) | 2,573 | 35,739 | |
FalconStor Software, Inc. (a) | 8,282 | 2,195 | |
FireEye, Inc. (a)(b) | 22,025 | 330,155 | |
Fortinet, Inc. (a) | 22,169 | 872,128 | |
Glu Mobile, Inc. (a)(b) | 17,306 | 43,957 | |
Gridsum Holding, Inc. ADR | 1,786 | 21,879 | |
Guidance Software, Inc. (a) | 5,056 | 32,409 | |
Imperva, Inc. (a) | 4,240 | 209,456 | |
Inseego Corp. (a)(b) | 6,519 | 6,649 | |
Intuit, Inc. | 32,690 | 4,597,522 | |
Jive Software, Inc. (a) | 13,405 | 70,711 | |
Magic Software Enterprises Ltd. | 21,765 | 176,297 | |
Manhattan Associates, Inc. (a) | 9,268 | 434,113 | |
Materialise NV ADR (a) | 2,947 | 37,692 | |
Microsoft Corp. | 989,937 | 69,137,200 | |
MicroStrategy, Inc. Class A (a) | 1,242 | 226,491 | |
Mitek Systems, Inc. (a) | 4,719 | 36,808 | |
MobileIron, Inc. (a) | 14,079 | 76,027 | |
Monotype Imaging Holdings, Inc. | 5,053 | 98,786 | |
NICE Systems Ltd. sponsored ADR (b) | 5,100 | 397,341 | |
Nuance Communications, Inc. (a) | 37,095 | 686,628 | |
Open Text Corp. | 32,459 | 1,059,420 | |
Parametric Technology Corp. (a) | 14,713 | 847,175 | |
Park City Group, Inc. (a)(b) | 2,945 | 36,813 | |
Paylocity Holding Corp. (a)(b) | 6,574 | 307,992 | |
Pegasystems, Inc. | 10,054 | 587,656 | |
Polarityte, Inc. (a) | 175 | 3,248 | |
Progress Software Corp. | 6,531 | 190,705 | |
Proofpoint, Inc. (a)(b) | 5,488 | 471,968 | |
QAD, Inc. Class A | 2,123 | 69,104 | |
Qualys, Inc. (a) | 4,322 | 181,524 | |
Rapid7, Inc. (a) | 5,652 | 103,771 | |
RealPage, Inc. (a) | 10,294 | 356,172 | |
Sapiens International Corp. NV (b) | 6,148 | 76,297 | |
SeaChange International, Inc. (a) | 4,269 | 10,459 | |
Smith Micro Software, Inc. (a) | 1,086 | 1,162 | |
Splunk, Inc. (a)(b) | 17,066 | 1,045,122 | |
SS&C Technologies Holdings, Inc. | 25,943 | 974,938 | |
Symantec Corp. | 79,170 | 2,399,643 | |
Synchronoss Technologies, Inc. (a)(b) | 5,935 | 75,849 | |
Synopsys, Inc. (a) | 19,181 | 1,436,081 | |
Take-Two Interactive Software, Inc. (a) | 11,188 | 858,567 | |
Talend SA ADR | 1,311 | 42,961 | |
TeleNav, Inc. (a) | 5,744 | 46,814 | |
The9 Ltd. sponsored ADR (a) | 2,554 | 2,324 | |
TiVo Corp. | 15,638 | 278,356 | |
Ultimate Software Group, Inc. (a)(b) | 3,766 | 831,307 | |
Upland Software, Inc. (a) | 3,354 | 74,593 | |
Varonis Systems, Inc. (a) | 3,336 | 121,264 | |
Vasco Data Security International, Inc. (a) | 5,060 | 69,322 | |
Verint Systems, Inc. (a) | 8,162 | 335,458 | |
Zix Corp. (a) | 7,256 | 41,867 | |
Zynga, Inc. (a) | 98,115 | 345,365 | |
126,600,264 | |||
Technology Hardware, Storage & Peripherals - 9.3% | |||
Apple, Inc. | 672,005 | 102,655,434 | |
Astro-Med, Inc. | 37 | 516 | |
Avid Technology, Inc. (a)(b) | 6,196 | 32,281 | |
BlackBerry Ltd. (a) | 69,762 | 737,463 | |
China TechFaith Wireless Communication Technology Ltd. sponsored ADR (a) | 762 | 1,745 | |
CPI Card Group (b) | 8,778 | 17,117 | |
Cray, Inc. (a) | 5,411 | 96,045 | |
Electronics for Imaging, Inc. (a) | 5,810 | 275,510 | |
Everspin Technologies, Inc. (b) | 1,503 | 27,024 | |
Immersion Corp. (a) | 4,361 | 37,069 | |
Intevac, Inc. (a) | 3,597 | 48,200 | |
Logitech International SA (b) | 20,754 | 756,898 | |
NetApp, Inc. | 35,444 | 1,435,128 | |
Seagate Technology LLC (b) | 37,841 | 1,648,732 | |
Stratasys Ltd. (a)(b) | 6,791 | 182,678 | |
Super Micro Computer, Inc. (a)(b) | 5,988 | 147,305 | |
U.S.A. Technologies, Inc. (a)(b) | 6,009 | 27,942 | |
Western Digital Corp. | 36,621 | 3,298,087 | |
111,425,174 | |||
TOTAL INFORMATION TECHNOLOGY | 594,446,931 | ||
MATERIALS - 0.5% | |||
Chemicals - 0.1% | |||
A. Schulman, Inc. | 3,599 | 105,451 | |
Advanced Emissions Solutions, Inc. (a)(b) | 3,677 | 34,490 | |
AgroFresh Solutions, Inc. (a)(b) | 7,228 | 50,813 | |
Balchem Corp. | 3,943 | 310,393 | |
Codexis, Inc. (a) | 5,604 | 22,416 | |
Gulf Resources, Inc. (a) | 5,721 | 10,126 | |
Hawkins, Inc. | 1,498 | 70,481 | |
Innophos Holdings, Inc. | 2,646 | 111,899 | |
Innospec, Inc. | 2,856 | 182,784 | |
Methanex Corp. | 11,613 | 479,014 | |
Senomyx, Inc. (a)(b) | 15,457 | 13,293 | |
Terravia Holdings, Inc. (a)(b) | 11,468 | 3,022 | |
Yield10 Bioscience, Inc. (a) | 574 | 2,962 | |
1,397,144 | |||
Construction Materials - 0.0% | |||
Forterra, Inc. | 8,136 | 58,498 | |
Tecnoglass, Inc. (b) | 4,020 | 39,637 | |
U.S. Concrete, Inc. (a)(b) | 1,941 | 128,300 | |
United States Lime & Minerals, Inc. | 802 | 62,893 | |
289,328 | |||
Containers & Packaging - 0.1% | |||
Silgan Holdings, Inc. | 15,506 | 493,246 | |
UFP Technologies, Inc. (a) | 711 | 19,446 | |
512,692 | |||
Metals & Mining - 0.3% | |||
Century Aluminum Co. (a)(b) | 11,320 | 163,234 | |
China Natural Resources, Inc. (a)(b) | 2,652 | 6,285 | |
Ferroglobe PLC | 10,057 | 106,001 | |
Ferroglobe Representation & Warranty Insurance | 7,187 | 0 | |
Haynes International, Inc. (b) | 1,694 | 60,645 | |
Kaiser Aluminum Corp. | 2,366 | 194,864 | |
Olympic Steel, Inc. | 1,568 | 25,825 | |
Pan American Silver Corp. | 19,554 | 341,022 | |
Pershing Gold Corp. (a)(b) | 5,110 | 14,053 | |
Randgold Resources Ltd. sponsored ADR (b) | 5,030 | 476,945 | |
Real Industries, Inc. (a)(b) | 3,214 | 8,999 | |
Royal Gold, Inc. | 8,448 | 679,388 | |
Schnitzer Steel Industries, Inc. Class A | 3,193 | 61,625 | |
Silver Standard Resources, Inc. (a)(b) | 14,859 | 141,127 | |
Steel Dynamics, Inc. | 31,019 | 1,054,336 | |
Universal Stainless & Alloy Products, Inc. (a) | 1,594 | 28,469 | |
3,362,818 | |||
Paper & Forest Products - 0.0% | |||
Mercer International, Inc. (SBI) | 9,381 | 109,289 | |
Pope Resources, Inc. LP | 1,692 | 124,616 | |
Rentech, Inc. (a)(b) | 2,775 | 1,181 | |
235,086 | |||
TOTAL MATERIALS | 5,797,068 | ||
REAL ESTATE - 1.1% | |||
Equity Real Estate Investment Trusts (REITs) - 1.0% | |||
CareTrust (REIT), Inc. | 8,043 | 146,785 | |
Communications Sales & Leasing, Inc. | 20,165 | 504,327 | |
CyrusOne, Inc. | 12,034 | 677,033 | |
Equinix, Inc. | 9,243 | 4,076,255 | |
Gaming & Leisure Properties | 27,251 | 1,000,384 | |
Gladstone Commercial Corp. (b) | 2,603 | 52,997 | |
Gladstone Land Corp. | 714 | 8,011 | |
Government Properties Income Trust (b) | 9,044 | 195,350 | |
Hospitality Properties Trust (SBI) | 21,385 | 618,454 | |
Lamar Advertising Co. Class A (b) | 10,619 | 743,436 | |
Potlatch Corp. | 5,020 | 229,665 | |
Retail Opportunity Investments Corp. | 14,364 | 283,833 | |
Sabra Health Care REIT, Inc. (b) | 8,185 | 191,775 | |
SBA Communications Corp. Class A (a) | 15,533 | 2,146,350 | |
Select Income REIT | 11,280 | 269,141 | |
Senior Housing Properties Trust (SBI) | 30,140 | 637,160 | |
Sotherly Hotels, Inc. | 3,755 | 24,558 | |
Wheeler REIT, Inc. (b) | 1,199 | 9,592 | |
11,815,106 | |||
Real Estate Management & Development - 0.1% | |||
Altisource Portfolio Solutions SA (a)(b) | 2,367 | 48,713 | |
China HGS Real Estate, Inc. (a)(b) | 140 | 244 | |
Colliers International Group, Inc. | 4,527 | 242,964 | |
Cresud S.A.C.I.F. y A. sponsored ADR | 4,792 | 96,990 | |
Elbit Imaging Ltd. (a) | 64 | 198 | |
FirstService Corp. | 4,678 | 292,659 | |
Landmark Infrastructure Partners LP | 2,012 | 31,689 | |
713,457 | |||
TOTAL REAL ESTATE | 12,528,563 | ||
TELECOMMUNICATION SERVICES - 1.0% | |||
Diversified Telecommunication Services - 0.2% | |||
Alaska Communication Systems Group, Inc. (a) | 15,212 | 33,466 | |
Atlantic Tele-Network, Inc. | 2,169 | 141,939 | |
B Communications Ltd. | 7,214 | 146,444 | |
Cogent Communications Group, Inc. | 5,782 | 227,811 | |
Consolidated Communications Holdings, Inc. (b) | 6,911 | 137,667 | |
FairPoint Communications, Inc. (a) | 3,214 | 46,282 | |
Frontier Communications Corp. (b) | 149,923 | 196,399 | |
General Communications, Inc. Class A (a) | 4,803 | 177,663 | |
Hawaiian Telcom Holdco, Inc. (a) | 1,824 | 45,819 | |
Iridium Communications, Inc. (a)(b) | 12,692 | 125,651 | |
Lumos Networks Corp. (a) | 2,945 | 52,774 | |
magicJack VocalTec Ltd. (a)(b) | 2,263 | 14,370 | |
ORBCOMM, Inc. (a)(b) | 8,557 | 83,859 | |
PDVWireless, Inc. (a)(b) | 1,794 | 42,877 | |
Sify Technologies Ltd. sponsored ADR | 416 | 349 | |
Windstream Holdings, Inc.(b) | 23,931 | 101,707 | |
1,575,077 | |||
Wireless Telecommunication Services - 0.8% | |||
Airgain, Inc. (b) | 1,397 | 18,622 | |
Boingo Wireless, Inc. (a) | 4,067 | 65,357 | |
NII Holdings, Inc. (a)(b) | 12,378 | 7,031 | |
Shenandoah Telecommunications Co. | 6,349 | 194,597 | |
Spok Holdings, Inc. | 2,940 | 51,156 | |
T-Mobile U.S., Inc. (a) | 105,578 | 7,118,069 | |
VimpelCom Ltd. sponsored ADR | 170,676 | 662,223 | |
Vodafone Group PLC sponsored ADR | 55,504 | 1,679,551 | |
9,796,606 | |||
TOTAL TELECOMMUNICATION SERVICES | 11,371,683 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.0% | |||
MGE Energy, Inc. | 4,565 | 297,182 | |
Otter Tail Corp. | 5,000 | 199,750 | |
Spark Energy, Inc. Class A, (b) | 854 | 37,448 | |
534,380 | |||
Gas Utilities - 0.0% | |||
Delta Natural Gas Co., Inc. | 975 | 29,260 | |
RGC Resources, Inc. | 775 | 19,057 | |
48,317 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
8Point3 Energy Partners LP | 4,295 | 58,584 | |
Atlantica Yield PLC (b) | 12,616 | 263,548 | |
Pattern Energy Group, Inc. (b) | 10,937 | 246,739 | |
TerraForm Global, Inc. (a) | 15,415 | 75,534 | |
Terraform Power, Inc. (a)(b) | 11,771 | 145,725 | |
790,130 | |||
Water Utilities - 0.0% | |||
Artesian Resources Corp. Class A | 1,225 | 43,034 | |
Cadiz, Inc. (a)(b) | 2,471 | 37,436 | |
Connecticut Water Service, Inc. | 1,519 | 80,598 | |
Consolidated Water Co., Inc. | 2,303 | 27,291 | |
Middlesex Water Co. | 2,176 | 76,856 | |
Pure Cycle Corp. (a) | 3,939 | 30,724 | |
York Water Co. | 1,378 | 45,612 | |
341,551 | |||
TOTAL UTILITIES | 1,714,378 | ||
TOTAL COMMON STOCKS | |||
(Cost $881,311,498) | 1,191,144,083 | ||
Money Market Funds - 7.8% | |||
Fidelity Cash Central Fund, 0.86% (c) | 2,426,969 | 2,427,454 | |
Fidelity Securities Lending Cash Central Fund 0.87% (c)(d) | 91,192,237 | 91,201,357 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $93,624,595) | 93,628,811 | ||
TOTAL INVESTMENT PORTFOLIO - 107.4% | |||
(Cost $974,936,093) | 1,284,772,894 | ||
NET OTHER ASSETS (LIABILITIES) - (7.4)% | (88,223,274) | ||
NET ASSETS - 100% | $1,196,549,620 |
Futures Contracts | |||
Expiration Date | Underlying Face Amount at Value | Unrealized Appreciation/(Depreciation) | |
Purchased | |||
Equity Index Contracts | |||
45 CME E-mini NASDAQ 100 Index Contracts (United States) | June 2017 | 5,213,925 | $1,799 |
The face value of futures purchased as a percentage of Net Assets is 0.4%
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) 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.
(d) Investment made with cash collateral received from securities on loan.
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 | $3,993 |
Fidelity Securities Lending Cash Central Fund | 501,900 |
Total | $505,893 |
Investment Valuation
The following is a summary of the inputs used, as of May 31, 2017, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
Investments in Securities: | ||||
Equities: | ||||
Consumer Discretionary | $227,429,484 | $227,428,494 | $-- | $990 |
Consumer Staples | 58,133,495 | 58,133,495 | -- | -- |
Energy | 6,224,854 | 6,223,812 | -- | 1,042 |
Financials | 78,235,349 | 78,235,349 | -- | -- |
Health Care | 143,481,272 | 143,405,547 | -- | 75,725 |
Industrials | 51,781,006 | 51,781,006 | -- | -- |
Information Technology | 594,446,931 | 594,446,931 | -- | -- |
Materials | 5,797,068 | 5,797,068 | -- | -- |
Real Estate | 12,528,563 | 12,528,563 | -- | -- |
Telecommunication Services | 11,371,683 | 11,371,683 | -- | -- |
Utilities | 1,714,378 | 1,714,378 | -- | -- |
Money Market Funds | 93,628,811 | 93,628,811 | -- | -- |
Total Investments in Securities: | $1,284,772,894 | $1,284,695,137 | $-- | $77,757 |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | $1,799 | $1,799 | $-- | $-- |
Total Assets | $1,799 | $1,799 | $-- | $-- |
Total Derivative Instruments: | $1,799 | $1,799 | $-- | $-- |
Value of Derivative Instruments
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of May 31, 2017. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
Primary Risk Exposure / Derivative Type | Value | |
Asset | Liability | |
Equity Risk | ||
Futures Contracts(a) | $1,799 | $0 |
Total Equity Risk | 1,799 | 0 |
Total Value of Derivatives | $1,799 | $0 |
(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin for derivative instruments, and the net cumulative appreciation (depreciation) is included in net unrealized appreciation (depreciation).
See accompanying notes which are an integral part of the financial statements.
Financial Statements
Statement of Assets and Liabilities
May 31, 2017 (Unaudited) | ||
Assets | ||
Investment in securities, at value (including securities loaned of $88,773,231) — See accompanying schedule: Unaffiliated issuers (cost $881,311,498) | $1,191,144,083 | |
Fidelity Central Funds (cost $93,624,595) | 93,628,811 | |
Total Investments (cost $974,936,093) | $1,284,772,894 | |
Segregated cash with brokers for derivative instruments | 156,000 | |
Cash | 1,117,485 | |
Foreign currency held at value (cost $3,972) | 3,952 | |
Receivable for investments sold | 1,629,057 | |
Dividends receivable | 1,342,917 | |
Distributions receivable from Fidelity Central Funds | 91,965 | |
Receivable for daily variation margin for derivative instruments | 966 | |
Prepaid expenses | 218 | |
Receivable from investment adviser for expense reductions | 77,463 | |
Other receivables | 21,248 | |
Total assets | 1,289,214,165 | |
Liabilities | ||
Payable for investments purchased | $1,146,646 | |
Accrued management fee | 232,061 | |
Other affiliated payables | 27,599 | |
Other payables and accrued expenses | 59,774 | |
Collateral on securities loaned | 91,198,465 | |
Total liabilities | 92,664,545 | |
Net Assets | $1,196,549,620 | |
Net Assets consist of: | ||
Paid in capital | $885,433,151 | |
Undistributed net investment income | 2,815,308 | |
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions | (1,537,420) | |
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies | 309,838,581 | |
Net Assets, for 4,900,000 shares outstanding | $1,196,549,620 | |
Net Asset Value, offering price and redemption price per share ($1,196,549,620 ÷ 4,900,000 shares) | $244.19 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
Six months ended May 31, 2017 (Unaudited) | ||
Investment Income | ||
Dividends | $5,630,236 | |
Income from Fidelity Central Funds (including $501,900 from security lending) | 505,893 | |
Total income | 6,136,129 | |
Expenses | ||
Management fee | $1,150,184 | |
Transfer agent and custody fees | 51,931 | |
Accounting and security lending fees | 148,206 | |
Independent trustees' fees and expenses | 8,064 | |
Audit | 38,465 | |
Legal | 18,097 | |
Miscellaneous | 10,276 | |
Total expenses before reductions | 1,425,223 | |
Expense reductions | (418,404) | 1,006,819 |
Net investment income (loss) | 5,129,310 | |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) on: | ||
Investment securities: | ||
Unaffiliated issuers | 676,006 | |
Fidelity Central Funds | (1,415) | |
Foreign currency transactions | (41) | |
Total net realized gain (loss) | 674,550 | |
Change in net unrealized appreciation (depreciation) on: Investment securities | 142,264,089 | |
Assets and liabilities in foreign currencies | 126 | |
Futures contracts | 1,799 | |
Total change in net unrealized appreciation (depreciation) | 142,266,014 | |
Net gain (loss) | 142,940,564 | |
Net increase (decrease) in net assets resulting from operations | $148,069,874 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
Six months ended May 31, 2017 (Unaudited) | Year ended November 30, 2016 | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $5,129,310 | $8,217,818 |
Net realized gain (loss) | 674,550 | (12,283,203) |
Change in net unrealized appreciation (depreciation) | 142,266,014 | 39,828,745 |
Net increase (decrease) in net assets resulting from operations | 148,069,874 | 35,763,360 |
Distributions to shareholders from net investment income | (4,169,000) | (7,756,000) |
Share transactions | ||
Proceeds from sales of shares | 297,631,725 | 98,935,887 |
Cost of shares redeemed | – | (35,449,369) |
Net increase (decrease) in net assets resulting from share transactions | 297,631,725 | 63,486,518 |
Total increase (decrease) in net assets | 441,532,599 | 91,493,878 |
Net Assets | ||
Beginning of period | 755,017,021 | 663,523,143 |
End of period | $1,196,549,620 | $755,017,021 |
Other Information | ||
Undistributed net investment income end of period | $2,815,308 | $1,854,998 |
Shares | ||
Sold | 1,300,000 | 500,000 |
Redeemed | – | (200,000) |
Net increase (decrease) | 1,300,000 | 300,000 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights — Fidelity Nasdaq Composite Index Tracking Stock
Six months ended (Unaudited) May 31, | Years ended November 30, | |||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
Selected Per–Share Data | ||||||
Net asset value, beginning of period | $209.73 | $201.07 | $188.45 | $160.07 | $118.93 | $103.48 |
Income from Investment Operations | ||||||
Net investment income (loss)A | 1.21 | 2.43 | 2.14 | 2.37B | 1.75 | 1.35 |
Net realized and unrealized gain (loss) | 34.32 | 8.56 | 12.44 | 28.15 | 41.06 | 15.29 |
Total from investment operations | 35.53 | 10.99 | 14.58 | 30.52 | 42.81 | 16.64 |
Distributions from net investment income | (1.07) | (2.33) | (1.96) | (2.14) | (1.67) | (1.19) |
Total distributions | (1.07) | (2.33) | (1.96) | (2.14) | (1.67) | (1.19) |
Net asset value, end of period | $244.19 | $209.73 | $201.07 | $188.45 | $160.07 | $118.93 |
Total ReturnC,D | 17.00% | 5.56% | 7.79% | 19.23% | 36.35% | 16.13% |
Ratios to Average Net AssetsE,F | ||||||
Expenses before reductions | .30%G | .32% | .42% | .48% | .51% | .52% |
Expenses net of fee waivers, if any | .21%G | .21% | .21% | .21% | .26% | .30% |
Expenses net of all reductions | .21%G | .21% | .21% | .21% | .26% | .30% |
Net investment income (loss) | 1.07%G | 1.25% | 1.11% | 1.40%B | 1.28% | 1.16% |
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $1,196,550 | $755,017 | $663,523 | $471,113 | $288,130 | $178,392 |
Portfolio turnover rateH,I | 4%G | 6% | 9% | 7% | 10% | 10% |
A Calculated based on average shares outstanding during the period.
B Net Investment income per share reflects a large, non-recurring dividend which amounted to $.46 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.13%.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.
F Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.
G Annualized
H Amount does not include the portfolio activity of any underlying Fidelity Central Funds.
I Portfolio turnover rate excludes securities received or delivered in-kind.
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements (Unaudited)
For the period ended May 31, 2017
1. Organization.
Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund of Fidelity Commonwealth Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .005%.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- 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)
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. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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 open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of May 31, 2017 is included at the end of the Fund's Schedule of Investments.
Foreign Currency. The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Realized gain or loss resulting from in-kind redemptions is not taxable to the Fund and is not distributed to shareholders of the Fund. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
Distributions are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), redemptions in kind, partnerships, capital loss carryforwards and losses deferred due to wash sales excise tax regulations.
The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:
Gross unrealized appreciation | $355,220,515 |
Gross unrealized depreciation | (46,259,868) |
Net unrealized appreciation (depreciation) on securities | $308,960,647 |
Tax cost | $975,812,247 |
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
Fiscal year of expiration | |
2017 | $(560,716) |
2018 | (118,806) |
Total with expiration | $(679,522) |
No expiration | |
Short-term | $(973,603) |
Total capital loss carryforward | $(1,653,125) |
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures 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 and 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:
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. |
The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.
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 and amounts recognized in the Statement of Assets and Liabilities. 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 fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.
Any 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 and is representative of volume of activity during the period. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
During the period the Fund recognized a change in net unrealized appreciation (depreciation) of $1,799 related to its investment in futures contracts. This amount is included in the Statement of Operations.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, aggregated $41,931,965 and $18,347,567, respectively.
Securities received and delivered in-kind through subscriptions and redemptions totaled $275,021,000 and $0, respectively.
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .24% of the Fund's average net assets.
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
Accounting and Security Lending Fees. Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.
Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.
7. Security Lending.
The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds.
8. Expense Reductions.
The investment adviser contractually agreed to waive expenses of the Fund to the extent annual operating expenses exceeded .21% of average net assets. This waiver will remain in place through January 31, 2018. Some expenses, for example interest expense, are excluded from this waiver. During the period this waiver reduced the Fund's expenses by $418,236.
In addition, through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $168.
9. Share Transactions.
The Fund issues and redeems shares at NAV only with certain authorized participants in large increments known as Creation Units. Purchases of Creation Units are made by tendering a basket of designated stocks to the Fund and redemption proceeds are paid with a basket of securities from the Fund's portfolio with a balancing cash component to equate the market value of the basket of securities delivered or redeemed to the NAV per Creation Unit on the transaction date. Cash may be substituted equivalent to the value of certain securities generally when they are not available in sufficient quantity for delivery. The Fund's shares are available in smaller increments to investors in the secondary market at market prices and may be subject to commissions. Authorized participants pay a transaction fee to the shareholder servicing agent when purchasing and redeeming Creation Units of the Fund. The transaction fee is used to defray the costs associated with the issuance and redemption of Creation Units.
10. Other.
The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.
Shareholder Expense Example
As a shareholder of the Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2016 to May 31, 2017).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.
Annualized Expense Ratio-A | Beginning Account Value December 1, 2016 | Ending Account Value May 31, 2017 | Expenses Paid During Period-B December 1, 2016 to May 31, 2017 | |
Actual | .21% | $1,000.00 | $1,170.00 | $1.14 |
Hypothetical-C | $1,000.00 | $1,023.88 | $1.06 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).
C 5% return per year before expenses
Board Approval of Investment Advisory Contracts and Management Fees
Nasdaq Composite Index Tracking Stock
At its April 2017 meeting, the Board of Trustees, including the Independent Trustees (together, the Board), voted to continue the management contract with Fidelity Management & Research Company (FMR) and the sub-advisory agreements (together, the Advisory Contracts) for the fund, including the fund's sub-advisory agreement with Geode Capital Management, LLC (Geode) for six months through January 31, 2018, in connection with the change in oversight of the fund from another Fidelity Funds Board of Trustees to the Sector Portfolios Board of Trustees.
The Board considered that the approval of the fund's Advisory Contracts will not result in any changes in (i) the investment process or strategies employed in the management of the fund's assets; (ii) the fees and expenses paid by shareholders, including the expense cap arrangement currently in place for the fund through January 31, 2018; (iii) the nature, extent or quality of services provided under the fund's Advisory Contracts; or (iv) the day-to-day management of the fund or the persons primarily responsible for such management. The Board noted that the fund's management fee rate and the total expense ratio of the fund, after the effect of the contractual expense cap arrangement discussed above, ranked below the competitive median of their management fee and total expense mapped groups for the twelve month period ended June 30, 2016. The Board concluded that the fund's Advisory Contracts are fair and reasonable, and that the fund's Advisory Contracts should be renewed, without modification, through January 31, 2018, with the understanding that the Board will consider the annual renewal for a full one year period in January 2018.
In connection with its consideration of future renewals of the fund's Advisory Contracts, the Board will consider: (i) the nature, extent and quality of services provided to the fund, including shareholder and administrative services and investment performance; (ii) the competitiveness of the management fee and total expenses; (iii) the costs of the services and profitability, including the revenues earned and the expenses incurred in conducting the business of developing, marketing, distributing, managing, administering, and servicing the fund and its shareholders, to the extent applicable; and (iv) whether there have been economies of scale in respect of the Fidelity funds, whether the Fidelity funds (including the fund) have appropriately benefited from any such economies of scale, and whether there is the potential for realization of any further economies.
Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board ultimately concluded that the management fee structures are fair and reasonable, and that the amendment to the New Advisory Contracts for the funds should be approved.
Proxy Voting Results
A special meeting of shareholders was held on January 18, 2017. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
PROPOSAL 1
To elect a Board of Trustees.
# of Votes | % of Votes | |
Donald F. Donahue | ||
Affirmative | 651,386,397.01 | 95.004 |
Withheld | 34,261,170.13 | 4.996 |
TOTAL | 685,647,567.14 | 100.000 |
Brian B. Hogan | ||
Affirmative | 650,199,590.99 | 94.831 |
Withheld | 35,447,976.15 | 5.169 |
TOTAL | 685,647,567.14 | 100.000 |
David A. Rosow | ||
Affirmative | 651,696,015.13 | 95.049 |
Withheld | 33,951,552.01 | 4.951 |
TOTAL | 685,647,567.14 | 100.000 |
Garnett A. Smith | ||
Affirmative | 652,675,986.79 | 95.192 |
Withheld | 32,971,580.35 | 4.808 |
TOTAL | 685,647,567.14 | 100.000 |
Carol B. Tomé | ||
Affirmative | 653,300,476.35 | 95.283 |
Withheld | 32,347,090.79 | 4.717 |
TOTAL | 685,647,567.14 | 100.000 |
Michael E. Wiley | ||
Affirmative | 651,835,437.65 | 95.069 |
Withheld | 33,812,129.49 | 4.931 |
TOTAL | 685,647,567.14 | 100.000 |
Proposal 1 reflects trust wide proposal and voting results. |
Corporate Headquarters
245 Summer St.
Boston, MA 02210
www.fidelity.com
ETF-SANN-0717
1.795572.113
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Commonwealth Trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Commonwealth Trust’s (the “Trust”) disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. |
(a) | (3) | Not applicable. |
(b) | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Commonwealth Trust
By: | /s/Adrien E. Deberghes |
Adrien E. Deberghes | |
President and Treasurer | |
Date: | July 25, 2017 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Adrien E. Deberghes |
Adrien E. Deberghes | |
President and Treasurer | |
Date: | July 25, 2017 |
By: | /s/Howard J. Galligan III |
Howard J. Galligan III | |
Chief Financial Officer | |
Date: | July 25, 2017 |