| Common Stocks - 99.7% |
| | | Shares | Value ($) |
| COMMUNICATION SERVICES - 14.4% | | | |
| Diversified Telecommunication Services - 0.1% | | | |
| AST SpaceMobile, Inc. Class A, (a)(b) | | 36,704 | 1,065,884 |
| Cogent Communications Group, Inc. (b) | | 13,914 | 973,702 |
| Consolidated Communications Holdings, Inc. (a)(b) | | 82,687 | 377,880 |
| Frontier Communications Parent, Inc. (a)(b) | | 64,412 | 1,855,066 |
| GCI Liberty, Inc. Class A (Escrow) (c)(j) | | 18,738 | 0 |
| Iridium Communications, Inc. | | 34,034 | 878,077 |
| Liberty Global Ltd.: | | | |
| Class A | | 50,179 | 970,964 |
| Class C (b) | | 57,386 | 1,128,783 |
| Liberty Latin America Ltd. Class C (a)(b) | | 91,989 | 871,136 |
| | | | 8,121,492 |
| Entertainment - 1.6% | | | |
| Atlanta Braves Holdings, Inc. Class C, (a) | | 17,440 | 747,827 |
| Bilibili, Inc. ADR (a) | | 37,511 | 539,408 |
| Electronic Arts, Inc. | | 60,738 | 9,221,243 |
| iQIYI, Inc. ADR (a) | | 173,052 | 372,062 |
| Liberty Media Corp. Liberty Formula One: | | | |
| Class A | | 2,306 | 162,850 |
| Class C (b) | | 49,745 | 3,882,597 |
| Liberty Media Corp. Liberty Live: | | | |
| Class C | | 15,779 | 636,998 |
| Series A | | 12,786 | 506,326 |
| Lionsgate Studios Corp. (b) | | 85,640 | 588,347 |
| NetEase, Inc. ADR | | 30,994 | 2,493,157 |
| Netflix, Inc. (a) | | 100,689 | 70,618,230 |
| Playtika Holding Corp. | | 99,746 | 755,077 |
| Roku, Inc. Class A (a) | | 29,488 | 1,998,402 |
| Take-Two Interactive Software, Inc. (a) | | 38,650 | 6,250,092 |
| Warner Bros Discovery, Inc. (a) | | 588,981 | 4,617,611 |
| Warner Music Group Corp. Class A (b) | | 38,317 | 1,096,249 |
| | | | 104,486,476 |
| Interactive Media & Services - 10.7% | | | |
| Alphabet, Inc.: | | | |
| Class A | | 1,377,212 | 225,008,897 |
| Class C | | 1,317,036 | 217,455,814 |
| Baidu, Inc. sponsored ADR (a) | | 33,908 | 2,869,295 |
| Bumble, Inc. Class A (a)(b) | | 52,733 | 353,838 |
| CarGurus, Inc. Class A (a) | | 26,854 | 778,229 |
| Gamesquare Holdings, Inc. (a)(b) | | 15,901 | 16,537 |
| Hello Group, Inc. ADR | | 57,040 | 378,746 |
| IAC, Inc. Class A (a) | | 20,492 | 1,081,568 |
| JOYY, Inc. ADR | | 19,416 | 667,716 |
| Kanzhun Ltd. ADR | | 73,037 | 910,041 |
| Match Group, Inc. (a) | | 65,039 | 2,420,101 |
| Meta Platforms, Inc. Class A | | 513,433 | 267,657,757 |
| Nebius Group NV Series A (a)(b)(c) | | 4,600 | 38,640 |
| QuinStreet, Inc. (a) | | 27,596 | 527,360 |
| Rumble, Inc. (a)(b) | | 62,176 | 357,512 |
| Taboola.com Ltd. (a)(b) | | 132,157 | 462,550 |
| Vimeo, Inc. Class A (a) | | 102,921 | 550,627 |
| Weibo Corp. sponsored ADR | | 62,365 | 466,490 |
| Ziff Davis, Inc. (a) | | 16,525 | 807,577 |
| | | | 722,809,295 |
| Media - 1.2% | | | |
| Advantage Solutions, Inc. Class A (a)(b) | | 78,934 | 305,475 |
| Charter Communications, Inc. Class A (a) | | 33,760 | 11,732,950 |
| Comcast Corp. Class A | | 913,426 | 36,144,267 |
| comScore, Inc. (a) | | 10,915 | 78,261 |
| Criteo SA sponsored ADR (a)(b) | | 15,763 | 747,639 |
| EchoStar Corp. Class A (a)(b) | | 46,790 | 867,487 |
| Fox Corp.: | | | |
| Class A | | 47,568 | 1,967,888 |
| Class B | | 47,630 | 1,830,421 |
| Integral Ad Science Holding Corp. (a)(b) | | 55,647 | 647,175 |
| Liberty Broadband Corp.: | | | |
| Class A (a)(b) | | 6,022 | 368,848 |
| Class C (a)(b) | | 31,230 | 1,948,127 |
| Liberty Media Corp. Liberty SiriusXM: | | | |
| Class A | | 26,054 | 620,346 |
| Class C | | 53,817 | 1,282,459 |
| Magnite, Inc. (a) | | 49,059 | 676,524 |
| News Corp.: | | | |
| Class A | | 80,914 | 2,292,294 |
| Class B | | 36,246 | 1,066,720 |
| Nexstar Media Group, Inc. (b) | | 9,102 | 1,555,350 |
| Paramount Global Class B (b) | | 190,895 | 1,998,671 |
| Scholastic Corp. | | 12,126 | 386,577 |
| Sirius XM Holdings, Inc. (b) | | 886,062 | 2,915,144 |
| TechTarget, Inc. (a)(b) | | 14,562 | 388,077 |
| The Trade Desk, Inc. Class A (a) | | 104,211 | 10,893,176 |
| | | | 80,713,876 |
| Wireless Telecommunication Services - 0.8% | | | |
| Millicom International Cellular SA (a)(b) | | 48,617 | 1,255,291 |
| T-Mobile U.S., Inc. | | 273,431 | 54,336,208 |
| VEON Ltd. sponsored ADR (a) | | 7,759 | 206,933 |
| Vodafone Group PLC sponsored ADR | | 108,712 | 1,062,116 |
| | | | 56,860,548 |
TOTAL COMMUNICATION SERVICES | | | 972,991,687 |
| CONSUMER DISCRETIONARY - 13.0% | | | |
| Automobile Components - 0.1% | | | |
| Dorman Products, Inc. (a) | | 8,525 | 966,906 |
| Fox Factory Holding Corp. (a) | | 5,575 | 225,676 |
| Garrett Motion, Inc. (a)(b) | | 81,127 | 677,410 |
| Gentex Corp. (b) | | 47,243 | 1,480,123 |
| Gentherm, Inc. (a)(b) | | 10,323 | 521,724 |
| Patrick Industries, Inc. (b) | | 6,952 | 898,337 |
| The Goodyear Tire & Rubber Co. (a)(b) | | 87,858 | 774,908 |
| Visteon Corp. (a) | | 6,794 | 687,757 |
| XPEL, Inc. (a)(b) | | 16,497 | 714,155 |
| | | | 6,946,996 |
| Automobiles - 2.5% | | | |
| Cenntro, Inc. (b) | | 89,690 | 118,391 |
| Gogoro, Inc. (a)(b) | | 96,348 | 105,983 |
| Li Auto, Inc. ADR (a)(b) | | 51,061 | 993,647 |
| Lucid Group, Inc. Class A (a)(b) | | 689,471 | 2,771,673 |
| NWTN, Inc. (a)(b) | | 77,149 | 82,549 |
| Rivian Automotive, Inc. Class A (a)(b) | | 253,066 | 3,575,823 |
| Tesla, Inc. (a) | | 746,815 | 159,900,560 |
| VinFast Auto PTE Ltd. (b) | | 551,983 | 1,987,139 |
| | | | 169,535,765 |
| Broadline Retail - 7.3% | | | |
| Amazon.com, Inc. (a) | | 2,440,085 | 435,555,173 |
| eBay, Inc. | | 115,322 | 6,815,530 |
| Etsy, Inc. (a) | | 31,381 | 1,728,779 |
| Global-e Online Ltd. (a)(b) | | 46,842 | 1,612,302 |
| JD.com, Inc. sponsored ADR | | 115,334 | 3,114,018 |
| MercadoLibre, Inc. (a) | | 11,886 | 24,504,891 |
| Ollie's Bargain Outlet Holdings, Inc. (a) | | 16,739 | 1,499,145 |
| Ozon Holdings PLC ADR (a)(b)(c) | | 22,100 | 618,800 |
| PDD Holdings, Inc. ADR (a) | | 156,852 | 15,075,046 |
| | | | 490,523,684 |
| Distributors - 0.1% | | | |
| GigaCloud Technology, Inc. Class A (a)(b) | | 9,528 | 185,224 |
| LKQ Corp. | | 56,763 | 2,360,773 |
| Pool Corp. | | 8,690 | 3,055,578 |
| | | | 5,601,575 |
| Diversified Consumer Services - 0.1% | | | |
| American Public Education, Inc. (a) | | 17,686 | 295,710 |
| Duolingo, Inc. Class A (a) | | 8,685 | 1,846,170 |
| Frontdoor, Inc. (a) | | 19,907 | 957,129 |
| Grand Canyon Education, Inc. (a) | | 7,256 | 1,052,193 |
| Laureate Education, Inc. (b) | | 39,702 | 612,205 |
| OneSpaWorld Holdings Ltd. (b) | | 40,448 | 641,910 |
| Perdoceo Education Corp. (b) | | 26,893 | 603,479 |
| Strategic Education, Inc. (b) | | 7,206 | 695,379 |
| Udemy, Inc. (a)(b) | | 65,222 | 552,430 |
| | | | 7,256,605 |
| Hotels, Restaurants & Leisure - 1.9% | | | |
| Airbnb, Inc. Class A (a) | | 101,904 | 11,954,358 |
| Atour Lifestyle Holdings Ltd. ADR | | 25,936 | 493,303 |
| Bloomin' Brands, Inc. | | 27,402 | 479,535 |
| Booking Holdings, Inc. | | 7,895 | 30,863,371 |
| Caesars Entertainment, Inc. (a) | | 47,934 | 1,804,236 |
| Churchill Downs, Inc. | | 15,723 | 2,185,025 |
| Cracker Barrel Old Country Store, Inc. (b) | | 9,292 | 367,777 |
| Dave & Buster's Entertainment, Inc. (a)(b) | | 11,798 | 369,749 |
| Doordash, Inc. (a) | | 87,930 | 11,317,470 |
| Draftkings Holdings, Inc. Class A (a) | | 111,073 | 3,832,019 |
| Expedia Group, Inc. Class A (a) | | 27,978 | 3,891,460 |
| First Watch Restaurant Group, Inc. (a)(b) | | 26,797 | 442,418 |
| Golden Entertainment, Inc. | | 11,643 | 377,117 |
| H World Group Ltd. ADR | | 41,657 | 1,268,039 |
| Jack in the Box, Inc. (b) | | 8,246 | 407,023 |
| Krispy Kreme, Inc. (b) | | 58,005 | 653,716 |
| Kura Sushi U.S.A., Inc. Class A (a)(b) | | 4,020 | 265,280 |
| Light & Wonder, Inc. Class A (a) | | 20,187 | 2,216,936 |
| MakeMyTrip Ltd. (a)(b) | | 17,317 | 1,665,376 |
| Marriott International, Inc. Class A | | 65,994 | 15,488,132 |
| Melco Crown Entertainment Ltd. sponsored ADR (a) | | 78,853 | 399,785 |
| Monarch Casino & Resort, Inc. | | 6,800 | 516,256 |
| Papa John's International, Inc. | | 252 | 11,937 |
| Penn Entertainment, Inc. (a) | | 47,200 | 878,864 |
| Playa Hotels & Resorts NV (a)(b) | | 48,896 | 385,300 |
| Red Rock Resorts, Inc. (b) | | 12,479 | 727,276 |
| Sabre Corp. (a)(b) | | 138,832 | 423,438 |
| Sportradar Holding AG (a)(b) | | 21,055 | 244,870 |
| Starbucks Corp. | | 262,624 | 24,836,352 |
| Target Hospitality Corp. (a) | | 50,938 | 493,589 |
| Texas Roadhouse, Inc. | | 14,262 | 2,406,713 |
| The Cheesecake Factory, Inc. (b) | | 14,351 | 564,138 |
| Trip.com Group Ltd. ADR (a) | | 75,546 | 3,561,238 |
| Wendy's Co. (b) | | 42,655 | 721,723 |
| Wingstop, Inc. | | 6,867 | 2,651,417 |
| Wynn Resorts Ltd. | | 23,616 | 1,815,598 |
| | | | 130,980,834 |
| Household Durables - 0.0% | | | |
| Cavco Industries, Inc. (a) | | 2,412 | 996,928 |
| LGI Homes, Inc. (a)(b) | | 6,313 | 681,046 |
| Newell Brands, Inc. (b) | | 133,188 | 944,303 |
| | | | 2,622,277 |
| Leisure Products - 0.1% | | | |
| BRP, Inc. (b) | | 10,434 | 755,213 |
| Hasbro, Inc. | | 34,406 | 2,345,113 |
| Mattel, Inc. (a) | | 90,230 | 1,712,565 |
| Peloton Interactive, Inc. Class A (a) | | 3,838 | 17,885 |
| | | | 4,830,776 |
| Specialty Retail - 0.7% | | | |
| Academy Sports & Outdoors, Inc. | | 20,914 | 1,160,309 |
| Five Below, Inc. (a) | | 13,909 | 1,049,156 |
| Monro, Inc. (b) | | 7,106 | 192,502 |
| National Vision Holdings, Inc. (a) | | 36,692 | 387,468 |
| Newegg Commerce, Inc. (a)(b) | | 241,884 | 197,595 |
| O'Reilly Automotive, Inc. (a) | | 13,687 | 15,465,899 |
| Ross Stores, Inc. | | 77,018 | 11,599,681 |
| Shoe Carnival, Inc. (b) | | 12,704 | 513,750 |
| Stitch Fix, Inc. (a)(b) | | 74,161 | 280,329 |
| The ODP Corp. (a)(b) | | 14,264 | 440,044 |
| The RealReal, Inc. (a)(b) | | 69,174 | 182,619 |
| Tractor Supply Co. | | 25,133 | 6,724,334 |
| Ulta Beauty, Inc. (a) | | 10,564 | 3,727,402 |
| Upbound Group, Inc. | | 18,845 | 627,539 |
| Urban Outfitters, Inc. (a) | | 25,483 | 925,543 |
| Winmark Corp. | | 1,468 | 529,361 |
| | | | 44,003,531 |
| Textiles, Apparel & Luxury Goods - 0.2% | | | |
| Columbia Sportswear Co. (b) | | 14,053 | 1,134,499 |
| Crocs, Inc. (a) | | 14,810 | 2,164,778 |
| G-III Apparel Group Ltd. (a) | | 12,772 | 338,075 |
| lululemon athletica, Inc. (a) | | 27,747 | 7,199,514 |
| Steven Madden Ltd. (b) | | 20,193 | 910,704 |
| | | | 11,747,570 |
TOTAL CONSUMER DISCRETIONARY | | | 874,049,613 |
| CONSUMER STAPLES - 3.8% | | | |
| Beverages - 1.4% | | | |
| Celsius Holdings, Inc. (a) | | 56,173 | 2,136,259 |
| Coca-Cola Consolidated, Inc. | | 2,009 | 2,696,882 |
| Coca-Cola Europacific Partners PLC | | 104,428 | 8,405,410 |
| Keurig Dr. Pepper, Inc. | | 310,961 | 11,384,282 |
| MGP Ingredients, Inc. (b) | | 8,396 | 752,198 |
| Monster Beverage Corp. (a) | | 239,352 | 11,280,660 |
| National Beverage Corp. | | 25,523 | 1,152,619 |
| PepsiCo, Inc. | | 320,927 | 55,481,860 |
| The Vita Coco Co., Inc. (a)(b) | | 20,001 | 522,426 |
| | | | 93,812,596 |
| Consumer Staples Distribution & Retail - 1.6% | | | |
| Andersons, Inc. | | 11,643 | 593,444 |
| Casey's General Stores, Inc. | | 8,583 | 3,109,707 |
| Chefs' Warehouse Holdings (a) | | 14,951 | 640,351 |
| Costco Wholesale Corp. | | 103,713 | 92,551,407 |
| Dollar Tree, Inc. (a) | | 49,203 | 4,157,161 |
| Ingles Markets, Inc. Class A (b) | | 5,571 | 412,254 |
| Maplebear, Inc. (NASDAQ) | | 68,834 | 2,470,452 |
| PriceSmart, Inc. (b) | | 8,958 | 802,458 |
| Sprouts Farmers Market LLC (a)(b) | | 25,574 | 2,660,975 |
| Walgreens Boots Alliance, Inc. | | 219,278 | 2,028,322 |
| | | | 109,426,531 |
| Food Products - 0.7% | | | |
| Bridgford Foods Corp. (a)(b) | | 2,886 | 38,528 |
| Cal-Maine Foods, Inc. | | 13,801 | 994,224 |
| Campbell Soup Co. | | 69,993 | 3,480,052 |
| Freshpet, Inc. (a)(b) | | 12,586 | 1,711,696 |
| J&J Snack Foods Corp. (b) | | 5,968 | 1,015,694 |
| John B. Sanfilippo & Son, Inc. | | 3,874 | 367,526 |
| Lancaster Colony Corp. (b) | | 6,608 | 1,128,382 |
| Mission Produce, Inc. (a) | | 36,887 | 395,429 |
| Mondelez International, Inc. | | 310,922 | 22,327,309 |
| Pilgrim's Pride Corp. (a) | | 60,127 | 2,800,716 |
| The Hain Celestial Group, Inc. (a)(b) | | 71,400 | 571,200 |
| The Kraft Heinz Co. | | 287,732 | 10,194,345 |
| The Simply Good Foods Co. (a) | | 28,142 | 889,006 |
| Vital Farms, Inc. (a)(b) | | 15,477 | 486,752 |
| | | | 46,400,859 |
| Household Products - 0.1% | | | |
| Central Garden & Pet Co. Class A (non-vtg.) | | 17,645 | 603,459 |
| Reynolds Consumer Products, Inc. | | 54,369 | 1,712,624 |
| WD-40 Co. (b) | | 3,876 | 1,018,768 |
| | | | 3,334,851 |
| Personal Care Products - 0.0% | | | |
| Inter Parfums, Inc. | | 8,993 | 1,158,658 |
| Oddity Tech Ltd. (a)(b) | | 13,149 | 483,883 |
| Olaplex Holdings, Inc. (a)(b) | | 270,377 | 565,088 |
| | | | 2,207,629 |
TOTAL CONSUMER STAPLES | | | 255,182,466 |
| ENERGY - 0.6% | | | |
| Energy Equipment & Services - 0.2% | | | |
| Baker Hughes Co. Class A | | 232,900 | 8,191,093 |
| Championx Corp. | | 45,668 | 1,421,645 |
| Patterson-UTI Energy, Inc. (b) | | 130,299 | 1,200,054 |
| Smart Sand, Inc. (a) | | 108,272 | 237,116 |
| Weatherford International PLC | | 18,337 | 1,924,285 |
| | | | 12,974,193 |
| Oil, Gas & Consumable Fuels - 0.4% | | | |
| Alliance Resource Partners LP | | 39,925 | 955,006 |
| Amplify Energy Corp. warrants 5/4/22 (a)(c) | | 322 | 0 |
| APA Corp. | | 86,681 | 2,469,542 |
| Calumet, Inc. (b) | | 26,662 | 481,516 |
| Chesapeake Energy Corp. | | 31,427 | 2,340,997 |
| Chord Energy Corp. | | 14,457 | 2,145,853 |
| Diamondback Energy, Inc. | | 41,144 | 8,027,606 |
| Golar LNG Ltd. | | 32,718 | 1,089,182 |
| HighPeak Energy, Inc. (b) | | 46,997 | 755,712 |
| New Fortress Energy, Inc. Class A (b) | | 54,437 | 670,664 |
| Nextdecade Corp. (a)(b) | | 81,915 | 381,724 |
| Plains All American Pipeline LP | | 157,689 | 2,828,941 |
| Plains GP Holdings LP Class A | | 32,880 | 631,296 |
| TORM PLC (b) | | 27,846 | 1,004,962 |
| Viper Energy, Inc. Class A | | 24,009 | 1,142,828 |
| | | | 24,925,829 |
TOTAL ENERGY | | | 37,900,022 |
| FINANCIALS - 3.9% | | | |
| Banks - 1.2% | | | |
| BancFirst Corp. (b) | | 9,804 | 1,043,146 |
| Bancorp, Inc., Delaware (a)(b) | | 19,125 | 1,002,150 |
| Bank of Marin Bancorp | | 8,295 | 177,430 |
| Bank OZK | | 22,280 | 965,838 |
| Banner Corp. (b) | | 12,035 | 716,925 |
| BCB Bancorp, Inc. | | 30,737 | 381,446 |
| BOK Financial Corp. | | 15,743 | 1,652,228 |
| Broadway Financial Corp. (a) | | 15,985 | 122,285 |
| Business First Bancshares, Inc. | | 12,666 | 309,304 |
| Carver Bancorp, Inc. (a) | | 36,140 | 69,750 |
| Cathay General Bancorp | | 21,965 | 966,240 |
| City Holding Co. (b) | | 5,632 | 668,744 |
| Columbia Banking Systems, Inc. | | 59,581 | 1,500,250 |
| Columbia Financial, Inc. (a)(b) | | 41,335 | 734,110 |
| Commerce Bancshares, Inc. (b) | | 33,989 | 2,173,936 |
| CVB Financial Corp. (b) | | 44,362 | 817,148 |
| Dime Community Bancshares, Inc. | | 21,974 | 571,544 |
| East West Bancorp, Inc. (b) | | 31,786 | 2,672,249 |
| Eastern Bankshares, Inc. (b) | | 54,263 | 920,843 |
| Enterprise Bancorp, Inc. | | 10,509 | 325,674 |
| Enterprise Financial Services Corp. | | 13,568 | 717,883 |
| Fifth Third Bancorp | | 153,792 | 6,565,380 |
| First Bancorp, North Carolina (b) | | 17,463 | 741,828 |
| First Busey Corp. (b) | | 23,858 | 645,359 |
| First Citizens Bancshares, Inc. | | 3,167 | 6,431,227 |
| First Financial Bancorp, Ohio | | 28,483 | 753,945 |
| First Financial Bankshares, Inc. (b) | | 41,931 | 1,533,417 |
| First Hawaiian, Inc. (b) | | 38,294 | 931,693 |
| First Internet Bancorp | | 16,155 | 586,265 |
| First Interstate Bancsystem, Inc. Class A (b) | | 31,140 | 966,897 |
| First Merchants Corp. (b) | | 17,656 | 688,584 |
| Flushing Financial Corp. (b) | | 26,533 | 387,382 |
| Fulton Financial Corp. (b) | | 45,584 | 882,050 |
| German American Bancorp, Inc. (b) | | 14,156 | 567,797 |
| Grupo Financiero Galicia SA sponsored ADR Class B, (b) | | 15,106 | 591,702 |
| Hancock Whitney Corp. | | 24,332 | 1,307,358 |
| Hanmi Financial Corp. | | 18,843 | 373,280 |
| Heartland Financial U.S.A., Inc. | | 15,549 | 867,012 |
| Hope Bancorp, Inc. | | 51,606 | 660,041 |
| Horizon Bancorp, Inc. Indiana | | 30,531 | 489,107 |
| Huntington Bancshares, Inc. | | 320,763 | 4,801,822 |
| Independent Bank Corp. | | 12,457 | 788,653 |
| Independent Bank Group, Inc. | | 15,199 | 884,886 |
| Inter & Co., Inc. Class A (b) | | 112,127 | 824,133 |
| International Bancshares Corp. | | 18,087 | 1,142,737 |
| Investar Holding Corp. (b) | | 19,435 | 361,880 |
| Lakeland Financial Corp. (b) | | 8,871 | 604,559 |
| NBT Bancorp, Inc. (b) | | 17,607 | 862,039 |
| Northwest Bancshares, Inc. (b) | | 45,927 | 636,089 |
| OceanFirst Financial Corp. | | 29,763 | 531,865 |
| Old National Bancorp, Indiana (b) | | 63,853 | 1,267,482 |
| Pacific Premier Bancorp, Inc. | | 32,157 | 826,435 |
| Pathward Financial, Inc. | | 9,731 | 669,687 |
| Peoples Bancorp, Inc. | | 16,588 | 530,816 |
| Pinnacle Financial Partners, Inc. | | 15,405 | 1,533,876 |
| Popular, Inc. | | 14,498 | 1,486,045 |
| Preferred Bank, Los Angeles | | 6,298 | 521,789 |
| Premier Financial Corp. | | 17,950 | 449,827 |
| Republic Bancorp, Inc., Kentucky Class A | | 11,933 | 762,519 |
| S&T Bancorp, Inc. (b) | | 16,563 | 711,712 |
| Seacoast Banking Corp., Florida (b) | | 25,662 | 702,112 |
| Simmons First National Corp. Class A | | 43,789 | 937,960 |
| Stock Yards Bancorp, Inc. (b) | | 10,292 | 623,695 |
| Texas Capital Bancshares, Inc. (a)(b) | | 14,445 | 970,993 |
| TFS Financial Corp. | | 84,901 | 1,152,956 |
| TowneBank | | 26,510 | 918,572 |
| Trico Bancshares | | 12,435 | 565,295 |
| Triumph Bancorp, Inc. (a)(b) | | 8,526 | 716,013 |
| Trustmark Corp. | | 21,313 | 709,936 |
| UMB Financial Corp. (b) | | 13,211 | 1,368,527 |
| United Bankshares, Inc., West Virginia (b) | | 36,173 | 1,406,045 |
| Valley National Bancorp (b) | | 136,481 | 1,184,655 |
| Veritex Holdings, Inc. | | 24,696 | 622,092 |
| WaFd, Inc. (b) | | 28,036 | 1,028,080 |
| Washington Trust Bancorp, Inc. (b) | | 12,226 | 401,013 |
| WesBanco, Inc. (b) | | 21,014 | 676,861 |
| Westamerica Bancorp. | | 9,829 | 509,044 |
| Wintrust Financial Corp. | | 11,942 | 1,299,290 |
| WSFS Financial Corp. (b) | | 19,055 | 1,043,071 |
| Zions Bancorporation NA | | 30,722 | 1,522,582 |
| | | | 83,037,090 |
| Capital Markets - 1.3% | | | |
| BGC Group, Inc. Class A (b) | | 119,703 | 1,182,666 |
| Carlyle Group LP | | 88,189 | 3,539,025 |
| CME Group, Inc. | | 85,467 | 18,438,651 |
| Coinbase Global, Inc. Class A (a) | | 47,525 | 8,714,184 |
| Freedom Holding Corp. (a)(b) | | 16,948 | 1,532,777 |
| Futu Holdings Ltd. ADR (a) | | 25,224 | 1,603,237 |
| Greenpro Capital Corp. (a)(b) | | 71,164 | 65,200 |
| Hamilton Lane, Inc. Class A | | 11,517 | 1,760,258 |
| Interactive Brokers Group, Inc. | | 26,731 | 3,445,359 |
| LPL Financial | | 18,204 | 4,083,885 |
| Marex Group PLC | | 25,009 | 616,972 |
| MarketAxess Holdings, Inc. | | 9,951 | 2,412,023 |
| Morningstar, Inc. | | 10,598 | 3,325,334 |
| NASDAQ, Inc. | | 134,336 | 9,682,939 |
| Northern Trust Corp. | | 46,673 | 4,257,044 |
| Perella Weinberg Partners Class A (b) | | 28,846 | 563,939 |
| Robinhood Markets, Inc. (a) | | 185,733 | 3,736,948 |
| SEI Investments Co. | | 32,328 | 2,186,343 |
| StepStone Group, Inc. Class A (b) | | 20,885 | 1,142,410 |
| StoneX Group, Inc. (a) | | 10,641 | 881,713 |
| T. Rowe Price Group, Inc. | | 53,508 | 5,673,988 |
| TPG, Inc. Class A (b) | | 26,382 | 1,330,972 |
| Tradeweb Markets, Inc. Class A (b) | | 29,494 | 3,487,371 |
| Victory Capital Holdings, Inc. | | 20,061 | 1,094,729 |
| Virtu Financial, Inc. Class A (b) | | 30,968 | 951,027 |
| XP, Inc. Class A | | 99,705 | 1,835,569 |
| | | | 87,544,563 |
| Consumer Finance - 0.3% | | | |
| Credit Acceptance Corp. (a)(b) | | 2,781 | 1,297,420 |
| Encore Capital Group, Inc. (a)(b) | | 11,334 | 567,607 |
| FirstCash Holdings, Inc. | | 12,177 | 1,462,336 |
| Kaspi.KZ JSC ADR | | 47,923 | 6,274,558 |
| LendingTree, Inc. (a) | | 7,604 | 440,500 |
| Navient Corp. | | 36,207 | 612,985 |
| Qifu Technology, Inc. ADR | | 36,225 | 959,600 |
| SLM Corp. | | 58,307 | 1,286,252 |
| SoFi Technologies, Inc. Class A (a)(b) | | 283,182 | 2,262,624 |
| Upstart Holdings, Inc. (a)(b) | | 22,623 | 961,478 |
| | | | 16,125,360 |
| Financial Services - 0.5% | | | |
| Affirm Holdings, Inc. Class A, (a) | | 64,050 | 2,818,841 |
| AvidXchange Holdings, Inc. (a)(b) | | 70,050 | 565,304 |
| DigiAsia Corp. (a)(b) | | 7,593 | 9,871 |
| Dlocal Ltd. (a)(b) | | 55,010 | 490,689 |
| Enact Holdings, Inc. | | 44,275 | 1,573,976 |
| Euronet Worldwide, Inc. (a) | | 12,543 | 1,353,515 |
| Flywire Corp. (a) | | 22,805 | 412,999 |
| Focus Impact BH3 Acquisition Co. (a) | | 16,085 | 171,466 |
| Jack Henry & Associates, Inc. | | 15,630 | 2,704,459 |
| Marblegate Acquisition Corp. (a) | | 17,600 | 193,952 |
| Marqeta, Inc. Class A (a) | | 155,381 | 828,181 |
| Merchants Bancorp | | 16,630 | 762,486 |
| Mr. Cooper Group, Inc. (a) | | 14,330 | 1,344,297 |
| NMI Holdings, Inc. (a) | | 26,072 | 1,070,777 |
| Nuvei Corp. (d) | | 13,718 | 456,261 |
| Payoneer Global, Inc. (a) | | 120,798 | 897,529 |
| PayPal Holdings, Inc. (a) | | 243,394 | 17,629,027 |
| Remitly Global, Inc. (a)(b) | | 56,614 | 772,781 |
| StoneCo Ltd. Class A (a)(b) | | 81,563 | 1,081,525 |
| | | | 35,137,936 |
| Insurance - 0.6% | | | |
| Amerisafe, Inc. | | 10,046 | 503,506 |
| Arch Capital Group Ltd. (a) | | 89,843 | 10,160,345 |
| Brighthouse Financial, Inc. (a) | | 20,200 | 927,180 |
| Cincinnati Financial Corp. | | 34,614 | 4,743,156 |
| Enstar Group Ltd. (a) | | 4,192 | 1,366,592 |
| Erie Indemnity Co. Class A | | 11,460 | 5,824,316 |
| Goosehead Insurance Class A (a)(b) | | 9,996 | 843,063 |
| Oxbridge Re Holdings Ltd. (a) | | 87,084 | 178,522 |
| Palomar Holdings, Inc. (a) | | 8,770 | 870,159 |
| Principal Financial Group, Inc. | | 51,923 | 4,227,571 |
| Safety Insurance Group, Inc. | | 6,613 | 585,581 |
| Selective Insurance Group, Inc. | | 16,094 | 1,464,232 |
| Skyward Specialty Insurance Group, Inc. (a) | | 16,214 | 662,666 |
| The Baldwin Insurance Group, Inc. Class A, (a)(b) | | 22,006 | 1,031,861 |
| Trupanion, Inc. (a)(b) | | 15,040 | 687,779 |
| Willis Towers Watson PLC | | 23,976 | 7,003,629 |
| | | | 41,080,158 |
| Mortgage Real Estate Investment Trusts - 0.0% | | | |
| AGNC Investment Corp. (b) | | 146,056 | 1,491,232 |
| New York Mortgage Trust, Inc. | | 61,312 | 408,951 |
| | | | 1,900,183 |
TOTAL FINANCIALS | | | 264,825,290 |
| HEALTH CARE - 6.9% | | | |
| Biotechnology - 4.0% | | | |
| ACADIA Pharmaceuticals, Inc. (a) | | 53,309 | 883,863 |
| ADMA Biologics, Inc. (a) | | 75,852 | 1,312,998 |
| Agios Pharmaceuticals, Inc. (a) | | 18,746 | 860,629 |
| Aileron Therapeutics, Inc. (a)(b) | | 40,909 | 103,091 |
| Akero Therapeutics, Inc. (a)(b) | | 27,928 | 759,642 |
| Alkermes PLC (a) | | 44,714 | 1,272,113 |
| Allakos, Inc. (a) | | 150,056 | 106,375 |
| Alnylam Pharmaceuticals, Inc. (a)(b) | | 30,607 | 8,040,153 |
| Alvotech SA (a) | | 52,711 | 615,664 |
| Amgen, Inc. | | 125,000 | 41,728,750 |
| Amicus Therapeutics, Inc. (a) | | 93,542 | 1,086,023 |
| Apellis Pharmaceuticals, Inc. (a)(b) | | 31,720 | 1,233,908 |
| Apogee Therapeutics, Inc. (a)(b) | | 11,555 | 591,269 |
| Applied Genetic Technologies Corp. (a)(c) | | 14,225 | 0 |
| Aptorum Group Ltd. Class A, (a)(b) | | 37,439 | 110,819 |
| Arcellx, Inc. (a)(b) | | 15,724 | 1,080,868 |
| Ardelyx, Inc. (a)(b) | | 84,195 | 520,325 |
| Argenx SE ADR (a) | | 8,037 | 4,157,701 |
| Arrowhead Pharmaceuticals, Inc. (a)(b) | | 43,599 | 1,038,964 |
| Ascendis Pharma A/S sponsored ADR (a) | | 15,379 | 2,129,223 |
| Avidity Biosciences, Inc. (a)(b) | | 23,321 | 1,026,124 |
| Beam Therapeutics, Inc. (a)(b) | | 29,386 | 784,018 |
| BeiGene Ltd. ADR (a) | | 11,550 | 2,215,059 |
| BioCryst Pharmaceuticals, Inc. (a) | | 70,722 | 614,574 |
| Biogen, Inc. (a) | | 34,473 | 7,058,691 |
| BioMarin Pharmaceutical, Inc. (a) | | 45,200 | 4,122,692 |
| BioNTech SE ADR (a) | | 25,738 | 2,270,606 |
| Blueprint Medicines Corp. (a)(b) | | 16,465 | 1,573,066 |
| BridgeBio Pharma, Inc. (a) | | 49,816 | 1,387,376 |
| CareDx, Inc. (a) | | 15,864 | 487,501 |
| Carisma Therapeutics, Inc. rights (a)(c) | | 449,253 | 4 |
| Catalyst Pharmaceutical Partners, Inc. (a) | | 43,541 | 881,705 |
| Celldex Therapeutics, Inc. (a)(b) | | 22,296 | 921,494 |
| CG Oncology, Inc. (b) | | 22,621 | 834,262 |
| Clementia Pharmaceuticals, Inc. rights (a)(c) | | 20,215 | 0 |
| Cogent Biosciences, Inc. (a) | | 57,890 | 621,739 |
| Crinetics Pharmaceuticals, Inc. (a) | | 21,674 | 1,150,022 |
| CRISPR Therapeutics AG (a)(b) | | 22,108 | 1,054,994 |
| Cullinan Oncology, Inc. (a)(b) | | 16,489 | 323,184 |
| CureVac NV (a)(b) | | 125,504 | 394,083 |
| Cyclerion Therapeutics, Inc. (a)(b) | | 14,148 | 38,341 |
| Cytokinetics, Inc. (a)(b) | | 27,090 | 1,546,297 |
| Day One Biopharmaceuticals, Inc. (a)(b) | | 38,203 | 528,730 |
| Denali Therapeutics, Inc. (a)(b) | | 51,884 | 1,268,045 |
| Design Therapeutics, Inc. (a)(b) | | 55,239 | 262,385 |
| Dynavax Technologies Corp. (a)(b) | | 51,655 | 579,569 |
| Dyne Therapeutics, Inc. (a) | | 24,841 | 1,144,922 |
| Entrada Therapeutics, Inc. (a)(b) | | 23,787 | 421,030 |
| Exact Sciences Corp. (a)(b) | | 44,658 | 2,754,952 |
| Exelixis, Inc. (a)(b) | | 73,008 | 1,900,398 |
| Forte Biosciences, Inc. (a) | | 5,066 | 40,224 |
| Galectin Therapeutics, Inc. (a)(b) | | 76,266 | 205,537 |
| Genmab A/S ADR (a) | | 16,295 | 453,001 |
| Geron Corp. (a)(b) | | 180,678 | 858,221 |
| Gilead Sciences, Inc. | | 288,362 | 22,780,598 |
| Halozyme Therapeutics, Inc. (a) | | 29,673 | 1,894,621 |
| Ideaya Biosciences, Inc. (a)(b) | | 23,846 | 941,917 |
| Immatics NV (a)(b) | | 41,766 | 463,185 |
| Immunocore Holdings PLC ADR (a) | | 14,684 | 526,862 |
| Immunovant, Inc. (a)(b) | | 39,213 | 1,211,682 |
| Incyte Corp. (a) | | 45,165 | 2,965,534 |
| Inhibrx Biosciences, Inc. (b) | | 11,898 | 173,235 |
| Inmune Bio, Inc. (a)(b) | | 38,701 | 256,201 |
| Insmed, Inc. (a) | | 38,306 | 2,929,260 |
| Intellia Therapeutics, Inc. (a) | | 50 | 1,122 |
| Ionis Pharmaceuticals, Inc. (a)(b) | | 38,250 | 1,823,760 |
| Iovance Biotherapeutics, Inc. (a)(b) | | 81,132 | 945,999 |
| Janux Therapeutics, Inc. (a)(b) | | 13,434 | 631,129 |
| Keros Therapeutics, Inc. (a) | | 13,750 | 623,563 |
| Kinnate Biopharma, Inc. rights (a)(c) | | 50,749 | 1 |
| Krystal Biotech, Inc. (a)(b) | | 8,004 | 1,561,740 |
| Kura Oncology, Inc. (a) | | 29,850 | 628,641 |
| Kymera Therapeutics, Inc. (a)(b) | | 21,931 | 1,060,583 |
| Legend Biotech Corp. ADR (a) | | 24,540 | 1,412,277 |
| Lyell Immunopharma, Inc. (a)(b) | | 172,564 | 250,218 |
| Madrigal Pharmaceuticals, Inc. (a)(b) | | 5,518 | 1,363,663 |
| MannKind Corp. (a)(b) | | 111,970 | 700,932 |
| Merus BV (a)(b) | | 17,943 | 914,914 |
| Mirati Therapeutics, Inc. rights (a)(c) | | 1,147 | 0 |
| Mirum Pharmaceuticals, Inc. (a)(b) | | 19,035 | 820,599 |
| Moderna, Inc. (a) | | 90,916 | 7,036,898 |
| Monte Rosa Therapeutics, Inc. (a)(b) | | 60,941 | 376,006 |
| Moonlake Immunotherapeutics Class A (a)(b) | | 18,864 | 882,647 |
| Myriad Genetics, Inc. (a) | | 27,104 | 767,856 |
| Natera, Inc. (a) | | 29,262 | 3,460,524 |
| Neurocrine Biosciences, Inc. (a) | | 23,875 | 3,033,558 |
| NewAmsterdam Pharma Co. NV (a)(b) | | 32,738 | 537,558 |
| Novavax, Inc. (a)(b) | | 40,097 | 496,401 |
| Nuvalent, Inc. Class A (a)(b) | | 16,780 | 1,428,481 |
| Omniab, Inc. (a)(c) | | 2,320 | 6,635 |
| Omniab, Inc. (a)(c) | | 2,320 | 6,078 |
| Protagonist Therapeutics, Inc. (a) | | 20,938 | 898,031 |
| Prothena Corp. PLC (a) | | 111 | 2,472 |
| PTC Therapeutics, Inc. (a) | | 24,618 | 869,508 |
| Recursion Pharmaceuticals, Inc. Class A (a)(b) | | 11,192 | 81,478 |
| Regeneron Pharmaceuticals, Inc. (a) | | 25,204 | 29,858,927 |
| Repligen Corp. (a)(b) | | 13,015 | 1,964,354 |
| Revolution Medicines, Inc. (a)(b) | | 44,904 | 1,914,258 |
| Rhythm Pharmaceuticals, Inc. (a)(b) | | 19,832 | 937,855 |
| Rocket Pharmaceuticals, Inc. (a)(b) | | 29,584 | 557,658 |
| Roivant Sciences Ltd. (a)(b) | | 177,580 | 2,171,803 |
| Sana Biotechnology, Inc. (a)(b) | | 79,678 | 482,052 |
| Sarepta Therapeutics, Inc. (a) | | 23,286 | 3,161,773 |
| Savara, Inc. (a)(b) | | 93,681 | 400,018 |
| Scholar Rock Holding Corp. (a)(b) | | 44,861 | 417,207 |
| Soleno Therapeutics, Inc. (a)(b) | | 10,084 | 493,612 |
| SpringWorks Therapeutics, Inc. (a)(b) | | 23,709 | 988,902 |
| Spyre Therapeutics, Inc. (a)(b) | | 12,467 | 358,426 |
| Summit Therapeutics, Inc. (a)(b) | | 180,256 | 2,339,723 |
| Syndax Pharmaceuticals, Inc. (a) | | 32,365 | 665,101 |
| Tango Therapeutics, Inc. (a)(b) | | 48,783 | 577,103 |
| TG Therapeutics, Inc. (a)(b) | | 49,723 | 1,167,993 |
| Tiziana Life Sciences Ltd. (a)(b) | | 163,637 | 163,637 |
| Tobira Therapeutics, Inc. rights (a)(c) | | 1,750 | 0 |
| Twist Bioscience Corp. (a) | | 15,602 | 674,630 |
| Tyra Biosciences, Inc. (a)(b) | | 21,027 | 478,575 |
| Ultragenyx Pharmaceutical, Inc. (a)(b) | | 25,644 | 1,456,066 |
| United Therapeutics Corp. (a) | | 10,160 | 3,693,668 |
| Vaxart, Inc. (a)(b) | | 325,169 | 281,889 |
| Vaxcyte, Inc. (a)(b) | | 28,696 | 2,317,489 |
| Vera Therapeutics, Inc. (a) | | 14,514 | 548,919 |
| Veracyte, Inc. (a) | | 28,677 | 904,759 |
| Vericel Corp. (a)(b) | | 16,788 | 867,100 |
| Vertex Pharmaceuticals, Inc. (a) | | 59,999 | 29,752,904 |
| Viking Therapeutics, Inc. (a)(b) | | 26,511 | 1,699,885 |
| Vir Biotechnology, Inc. (a)(b) | | 58,172 | 480,501 |
| Xencor, Inc. (a) | | 39,348 | 688,197 |
| Xenon Pharmaceuticals, Inc. (a)(b) | | 24,228 | 977,358 |
| | | | 267,563,933 |
| Health Care Equipment & Supplies - 1.5% | | | |
| Abiomed, Inc. (a)(c) | | 10,350 | 20,286 |
| Align Technology, Inc. (a) | | 17,840 | 4,232,005 |
| Atricure, Inc. (a)(b) | | 26,422 | 692,521 |
| Axonics, Inc. (a) | | 8,445 | 584,098 |
| Bioventus, Inc. (a) | | 59,206 | 595,020 |
| Cerus Corp. (a)(b) | | 177,232 | 400,544 |
| Dentsply Sirona, Inc. (b) | | 43,793 | 1,107,525 |
| DexCom, Inc. (a) | | 92,939 | 6,444,390 |
| Embecta Corp. | | 26,373 | 430,935 |
| Establishment Labs Holdings, Inc. (a)(b) | | 9,189 | 421,040 |
| GE Healthcare Technologies, Inc. | | 105,498 | 8,948,340 |
| Hologic, Inc. (a) | | 51,396 | 4,175,411 |
| ICU Medical, Inc. (a) | | 7,689 | 1,271,222 |
| IDEXX Laboratories, Inc. (a) | | 18,887 | 9,090,880 |
| Inari Medical, Inc. (a) | | 17,903 | 773,947 |
| InMode Ltd. (a) | | 29,506 | 493,045 |
| Insulet Corp. (a) | | 16,786 | 3,403,697 |
| Intuitive Surgical, Inc. (a) | | 82,618 | 40,700,105 |
| iRhythm Technologies, Inc. (a)(b) | | 8,950 | 634,376 |
| Lantheus Holdings, Inc. (a)(b) | | 15,639 | 1,665,084 |
| LeMaitre Vascular, Inc. (b) | | 8,052 | 727,015 |
| LivaNova PLC (a) | | 15,528 | 782,456 |
| Masimo Corp. (a)(b) | | 13,076 | 1,536,692 |
| Merit Medical Systems, Inc. (a) | | 14,638 | 1,415,202 |
| Neogen Corp. (a)(b) | | 62,395 | 1,076,314 |
| Novocure Ltd. (a)(b) | | 35,796 | 695,874 |
| Omnicell, Inc. (a) | | 19,408 | 863,268 |
| PROCEPT BioRobotics Corp. (a)(b) | | 14,923 | 1,178,917 |
| Pulse Biosciences, Inc. (a)(b) | | 16,466 | 306,926 |
| QuidelOrtho Corp. (a) | | 22,362 | 944,795 |
| RxSight, Inc. (a) | | 12,874 | 725,965 |
| Staar Surgical Co. (a) | | 15,938 | 527,388 |
| Tandem Diabetes Care, Inc. (a)(b) | | 18,704 | 813,624 |
| The Cooper Companies, Inc. | | 46,656 | 4,932,939 |
| TransMedics Group, Inc. (a)(b) | | 8,044 | 1,351,875 |
| UFP Technologies, Inc. (a) | | 2,621 | 894,364 |
| | | | 104,858,085 |
| Health Care Providers & Services - 0.4% | | | |
| 23andMe Holding Co. Class A (a)(b) | | 692,726 | 218,139 |
| Acadia Healthcare Co., Inc. (a) | | 23,691 | 1,941,004 |
| AdaptHealth Corp. (a) | | 54,369 | 597,515 |
| Addus HomeCare Corp. (a) | | 5,729 | 762,014 |
| AirSculpt Technologies, Inc. (a)(b) | | 31,921 | 133,749 |
| Alignment Healthcare, Inc. (a)(b) | | 76,254 | 687,049 |
| Amedisys, Inc. (a) | | 5,051 | 495,049 |
| Astrana Health, Inc. (a)(b) | | 16,291 | 778,547 |
| Aveanna Healthcare Holdings, Inc. (a)(b) | | 83,833 | 473,656 |
| BrightSpring Health Services, Inc. (b) | | 40,045 | 502,565 |
| Clover Health Investments Corp. (a)(b) | | 170,077 | 447,303 |
| Corvel Corp. (a) | | 4,852 | 1,556,182 |
| Fulgent Genetics, Inc. (a)(b) | | 19,005 | 428,753 |
| GeneDx Holdings Corp. Class A (a) | | 8,127 | 259,576 |
| Guardant Health, Inc. (a)(b) | | 37,448 | 957,920 |
| HealthEquity, Inc. (a) | | 20,720 | 1,648,483 |
| Henry Schein, Inc. (a) | | 26,544 | 1,872,679 |
| LifeStance Health Group, Inc. (a)(b) | | 138,454 | 873,645 |
| National Research Corp. Class A | | 15,038 | 342,866 |
| NeoGenomics, Inc. (a) | | 38,896 | 642,562 |
| Opko Health, Inc. (a)(b) | | 276,351 | 464,270 |
| Option Care Health, Inc. (a) | | 36,139 | 1,157,171 |
| P3 Health Partners, Inc. Class A (a)(b) | | 118,948 | 60,033 |
| Patterson Companies, Inc. (b) | | 28,217 | 634,600 |
| Premier, Inc. Class A (b) | | 33,780 | 688,099 |
| Privia Health Group, Inc. (a)(b) | | 35,243 | 709,794 |
| Progyny, Inc. (a)(b) | | 26,278 | 617,270 |
| R1 RCM, Inc. (a) | | 110,632 | 1,561,018 |
| RadNet, Inc. (a) | | 19,130 | 1,268,128 |
| Surgery Partners, Inc. (a)(b) | | 38,523 | 1,230,810 |
| The Ensign Group, Inc. | | 11,382 | 1,722,780 |
| | | | 25,733,229 |
| Health Care Technology - 0.0% | | | |
| Schrodinger, Inc. (a)(b) | | 22,343 | 469,873 |
| Simulations Plus, Inc. (b) | | 9,795 | 355,069 |
| SOPHiA GENETICS SA (a)(b) | | 49,152 | 188,744 |
| Waystar Holding Corp. | | 38,961 | 1,060,518 |
| | | | 2,074,204 |
| Life Sciences Tools & Services - 0.4% | | | |
| 10X Genomics, Inc. Class A (a)(b) | | 36,774 | 858,673 |
| AbCellera Biologics, Inc. (a) | | 4,809 | 12,311 |
| Azenta, Inc. (a)(b) | | 14,412 | 713,682 |
| Bio-Techne Corp. | | 38,568 | 2,853,646 |
| Bruker Corp. (b) | | 34,511 | 2,318,794 |
| Fortrea Holdings, Inc. (a)(b) | | 28,273 | 651,975 |
| ICON PLC (a)(b) | | 19,018 | 6,124,937 |
| Illumina, Inc. (a) | | 38,724 | 5,088,334 |
| Maravai LifeSciences Holdings, Inc. Class A (a) | | 62,150 | 562,458 |
| Medpace Holdings, Inc. (a) | | 6,908 | 2,454,205 |
| OmniAb, Inc. (a)(b) | | 83,880 | 351,457 |
| Sotera Health Co. (a)(b) | | 87,295 | 1,347,835 |
| Tempus AI, Inc. (b) | | 37,412 | 2,221,525 |
| | | | 25,559,832 |
| Pharmaceuticals - 0.6% | | | |
| Aclaris Therapeutics, Inc. (a) | | 129,325 | 152,604 |
| Amneal Intermediate, Inc. Class A, (a) | | 89,009 | 770,818 |
| Amphastar Pharmaceuticals, Inc. (a)(b) | | 17,194 | 838,036 |
| ANI Pharmaceuticals, Inc. (a) | | 8,485 | 540,919 |
| Arvinas Holding Co. LLC (a) | | 24,840 | 649,814 |
| AstraZeneca PLC: | | | |
| rights (a)(c) | | 21,510 | 0 |
| sponsored ADR | | 133,509 | 11,698,059 |
| Atea Pharmaceuticals, Inc. (a) | | 111,935 | 430,950 |
| Avadel Pharmaceuticals PLC sponsored (a) | | 36,246 | 549,852 |
| Axsome Therapeutics, Inc. (a)(b) | | 13,167 | 1,170,020 |
| Cassava Sciences, Inc. (a)(b) | | 14,233 | 408,629 |
| CinCor Pharma, Inc. rights (a)(c) | | 12,042 | 0 |
| Collegium Pharmaceutical, Inc. (a)(b) | | 12,052 | 463,520 |
| Corcept Therapeutics, Inc. (a)(b) | | 31,735 | 1,120,246 |
| Cronos Group, Inc. (a)(b) | | 192,283 | 434,560 |
| Dova Pharmaceuticals, Inc. rights (a)(c) | | 7,729 | 0 |
| Edgewise Therapeutics, Inc. (a)(b) | | 34,088 | 639,150 |
| GH Research PLC (a)(b) | | 37,071 | 389,246 |
| Harmony Biosciences Holdings, Inc. (a) | | 18,265 | 657,175 |
| Harrow, Inc. (a)(b) | | 10,988 | 444,574 |
| Indivior PLC (a) | | 49,873 | 623,413 |
| Innoviva, Inc. (a)(b) | | 29,039 | 562,776 |
| Intra-Cellular Therapies, Inc. (a)(b) | | 25,485 | 1,867,541 |
| Jazz Pharmaceuticals PLC (a)(b) | | 14,170 | 1,643,437 |
| Ligand Pharmaceuticals, Inc. (a)(b) | | 6,633 | 701,771 |
| Ligand Pharmaceuticals, Inc.: | | | |
| General CVR (a) | | 1,530 | 13 |
| Glucagon CVR (a) | | 1,530 | 6 |
| rights (a) | | 1,530 | 5 |
| TR Beta CVR (a) | | 1,530 | 268 |
| Liquidia Corp. (a)(b) | | 36,861 | 350,548 |
| Neumora Therapeutics, Inc. (b) | | 63,330 | 728,295 |
| Royalty Pharma PLC Class A | | 103,840 | 3,014,475 |
| Sanofi SA: | | | |
| rights (a)(c) | | 925 | 0 |
| sponsored ADR | | 68,279 | 3,841,377 |
| Satsuma Pharmaceuticals, Inc. rights (a)(c) | | 218,164 | 2 |
| Scilex Holding Co. (a) | | 45,036 | 41,433 |
| Scilex Holding Co. (a)(b) | | 104,473 | 120,144 |
| SIGA Technologies, Inc. (b) | | 35,922 | 324,376 |
| Structure Therapeutics, Inc. ADR (a)(b) | | 16,017 | 610,728 |
| Supernus Pharmaceuticals, Inc. (a) | | 19,626 | 690,050 |
| Tarsus Pharmaceuticals, Inc. (a)(b) | | 14,081 | 381,736 |
| Tilray Brands, Inc. Class 2 (a)(b) | | 330,142 | 564,543 |
| Verona Pharma PLC ADR (a) | | 25,896 | 711,622 |
| Viatris, Inc. | | 277,979 | 3,357,986 |
| WAVE Life Sciences (a) | | 70,170 | 402,776 |
| | | | 41,897,493 |
TOTAL HEALTH CARE | | | 467,686,776 |
| INDUSTRIALS - 4.2% | | | |
| Aerospace & Defense - 0.3% | | | |
| AeroVironment, Inc. (a) | | 7,592 | 1,546,946 |
| Axon Enterprise, Inc. (a) | | 17,040 | 6,219,089 |
| Elbit Systems Ltd. (b) | | 11,734 | 2,397,960 |
| Kratos Defense & Security Solutions, Inc. (a)(b) | | 46,938 | 1,076,758 |
| Leonardo DRS, Inc. (a) | | 70,783 | 2,020,147 |
| Lilium NV (a)(b) | | 395,599 | 263,825 |
| Mercury Systems, Inc. (a) | | 22,445 | 850,666 |
| Rocket Lab U.S.A., Inc. Class A (a)(b) | | 154,436 | 968,314 |
| Woodward, Inc. | | 13,714 | 2,285,438 |
| | | | 17,629,143 |
| Air Freight & Logistics - 0.1% | | | |
| Air Transport Services Group, Inc. (a)(b) | | 49,438 | 833,525 |
| C.H. Robinson Worldwide, Inc. | | 25,884 | 2,679,253 |
| Forward Air Corp. (b) | | 17,857 | 567,317 |
| Hub Group, Inc. Class A | | 19,988 | 942,034 |
| | | | 5,022,129 |
| Building Products - 0.1% | | | |
| AAON, Inc. (b) | | 20,104 | 1,920,133 |
| American Woodmark Corp. (a)(b) | | 3,715 | 332,901 |
| Apogee Enterprises, Inc. | | 7,499 | 500,783 |
| CSW Industrials, Inc. (b) | | 4,522 | 1,526,763 |
| Gibraltar Industries, Inc. (a) | | 10,145 | 706,802 |
| UFP Industries, Inc. | | 12,999 | 1,581,588 |
| | | | 6,568,970 |
| Commercial Services & Supplies - 0.6% | | | |
| ACV Auctions, Inc. Class A (a)(b) | | 48,085 | 899,670 |
| Casella Waste Systems, Inc. Class A (a)(b) | | 13,727 | 1,480,594 |
| Cimpress PLC (a) | | 8,583 | 848,687 |
| Cintas Corp. | | 23,456 | 18,884,895 |
| Copart, Inc. (a) | | 221,305 | 11,720,313 |
| Driven Brands Holdings, Inc. (a)(b) | | 59,011 | 846,218 |
| Fuel Tech, Inc. (a) | | 232,058 | 232,058 |
| Matthews International Corp. Class A | | 16,955 | 429,470 |
| Millerknoll, Inc. (b) | | 26,212 | 771,943 |
| Stericycle, Inc. (a)(b) | | 19,995 | 1,184,904 |
| Tetra Tech, Inc. | | 11,394 | 2,708,810 |
| VSE Corp. (b) | | 5,499 | 511,572 |
| | | | 40,519,134 |
| Construction & Engineering - 0.2% | | | |
| Construction Partners, Inc. Class A (a)(b) | | 14,329 | 945,427 |
| Ferrovial SE (b) | | 174,948 | 7,358,313 |
| IES Holdings, Inc. (a) | | 6,262 | 1,168,051 |
| MYR Group, Inc. (a) | | 5,621 | 566,597 |
| Sterling Construction Co., Inc. (a) | | 8,604 | 1,028,436 |
| Willscot Holdings Corp. (a) | | 44,645 | 1,720,618 |
| | | | 12,787,442 |
| Electrical Equipment - 0.1% | | | |
| Enovix Corp. (a)(b) | | 78,140 | 743,893 |
| Fluence Energy, Inc. Class A (a)(b) | | 39,307 | 722,070 |
| Nextracker, Inc. Class A (a) | | 34,583 | 1,406,491 |
| Plug Power, Inc. (a)(b) | | 377,774 | 710,215 |
| Powell Industries, Inc. (b) | | 4,254 | 712,290 |
| Sunrun, Inc. (a)(b) | | 61,878 | 1,269,737 |
| Vicor Corp. (a)(b) | | 27,185 | 1,046,623 |
| | | | 6,611,319 |
| Ground Transportation - 0.6% | | | |
| ArcBest Corp. | | 6,937 | 737,403 |
| Avis Budget Group, Inc. (b) | | 7,499 | 614,843 |
| CSX Corp. | | 451,194 | 15,462,418 |
| Grab Holdings Ltd. (a) | | 911,792 | 2,935,970 |
| Heartland Express, Inc. | | 38,814 | 480,517 |
| Hertz Global Holdings, Inc. (a)(b) | | 211,756 | 643,738 |
| J.B. Hunt Transport Services, Inc. | | 22,666 | 3,925,751 |
| Landstar System, Inc. | | 7,069 | 1,290,517 |
| Lyft, Inc. (a) | | 94,678 | 1,104,892 |
| Marten Transport Ltd. | | 30,518 | 532,539 |
| Old Dominion Freight Lines, Inc. | | 50,707 | 9,776,310 |
| Saia, Inc. (a)(b) | | 6,267 | 2,355,327 |
| Universal Logistics Holdings, Inc. (b) | | 12,157 | 513,876 |
| Werner Enterprises, Inc. (b) | | 18,139 | 670,417 |
| | | | 41,044,518 |
| Industrial Conglomerates - 0.5% | | | |
| Honeywell International, Inc. | | 151,569 | 31,512,711 |
| Icahn Enterprises LP | | 120,666 | 1,601,238 |
| | | | 33,113,949 |
| Machinery - 0.4% | | | |
| Astec Industries, Inc. | | 28,255 | 955,867 |
| Blue Bird Corp. (a) | | 10,343 | 529,355 |
| Columbus McKinnon Corp. (NY Shares) | | 13,129 | 449,143 |
| Energy Recovery, Inc. (a) | | 50,923 | 826,990 |
| Franklin Electric Co., Inc. | | 12,819 | 1,331,381 |
| Hillman Solutions Corp. Class A (a)(b) | | 65,283 | 649,566 |
| Lincoln Electric Holdings, Inc. (b) | | 12,448 | 2,410,057 |
| Middleby Corp. (a)(b) | | 12,591 | 1,770,546 |
| NN, Inc. (a)(b) | | 55,720 | 219,537 |
| Nordson Corp. | | 12,654 | 3,246,510 |
| Omega Flex, Inc. | | 5,994 | 282,917 |
| PACCAR, Inc. | | 120,692 | 11,608,157 |
| Symbotic, Inc. (a)(b) | | 22,302 | 428,198 |
| | | | 24,708,224 |
| Marine Transportation - 0.0% | | | |
| Golden Ocean Group Ltd. (b) | | 65,026 | 799,822 |
| Star Bulk Carriers Corp. | | 29,696 | 634,604 |
| | | | 1,434,426 |
| Passenger Airlines - 0.1% | | | |
| American Airlines Group, Inc. (a)(b) | | 142,285 | 1,511,067 |
| Frontier Group Holdings, Inc. (a)(b) | | 97,111 | 352,513 |
| JetBlue Airways Corp. (a)(b) | | 121,666 | 618,063 |
| Ryanair Holdings PLC sponsored ADR | | 22,930 | 2,555,778 |
| SkyWest, Inc. (a) | | 10,160 | 787,806 |
| United Airlines Holdings, Inc. (a) | | 74,628 | 3,286,617 |
| | | | 9,111,844 |
| Professional Services - 1.0% | | | |
| Automatic Data Processing, Inc. | | 94,996 | 26,210,346 |
| Concentrix Corp. (b) | | 18,398 | 1,384,082 |
| Conduent, Inc. (a) | | 125,251 | 478,459 |
| CRA International, Inc. | | 2,998 | 505,463 |
| CSG Systems International, Inc. (b) | | 11,101 | 538,621 |
| ExlService Holdings, Inc. (a) | | 36,448 | 1,331,810 |
| Exponent, Inc. | | 13,906 | 1,505,603 |
| First Advantage Corp. (b) | | 48,690 | 932,414 |
| Forrester Research, Inc. (a) | | 14,333 | 274,907 |
| Huron Consulting Group, Inc. (a) | | 6,544 | 722,719 |
| ICF International, Inc. | | 5,995 | 993,731 |
| Kelly Services, Inc. Class A (non-vtg.) (b) | | 18,731 | 395,411 |
| NV5 Global, Inc. (a) | | 5,164 | 496,415 |
| Paychex, Inc. | | 82,506 | 10,824,787 |
| Paycor HCM, Inc. (a) | | 25,540 | 361,646 |
| Paylocity Holding Corp. (a) | | 13,845 | 2,234,583 |
| Science Applications International Corp. | | 10,103 | 1,319,351 |
| SS&C Technologies Holdings, Inc. | | 54,156 | 4,066,574 |
| Sterling Check Corp. (a)(b) | | 21,743 | 352,019 |
| Upwork, Inc. (a) | | 4,753 | 45,819 |
| Verisk Analytics, Inc. | | 32,564 | 8,884,110 |
| Verra Mobility Corp. Class A (a)(b) | | 46,233 | 1,276,493 |
| | | | 65,135,363 |
| Trading Companies & Distributors - 0.2% | | | |
| Beacon Roofing Supply, Inc. (a)(b) | | 13,735 | 1,244,391 |
| Fastenal Co. | | 130,590 | 8,916,685 |
| FTAI Aviation Ltd. (b) | | 25,240 | 3,225,924 |
| H&E Equipment Services, Inc. | | 13,774 | 663,218 |
| McGrath RentCorp. | | 7,607 | 822,697 |
| Rush Enterprises, Inc. Class A (b) | | 19,784 | 1,042,617 |
| Transcat, Inc. (a)(b) | | 4,026 | 497,050 |
| | | | 16,412,582 |
TOTAL INDUSTRIALS | | | 280,099,043 |
| INFORMATION TECHNOLOGY - 50.2% | | | |
| Communications Equipment - 0.8% | | | |
| Cisco Systems, Inc. | | 939,493 | 47,481,976 |
| CommScope Holding Co., Inc. (a) | | 92,438 | 356,811 |
| Digi International, Inc. (a) | | 19,190 | 565,337 |
| Extreme Networks, Inc. (a) | | 43,493 | 685,015 |
| F5, Inc. (a) | | 12,340 | 2,506,871 |
| Harmonic, Inc. (a) | | 43,987 | 635,612 |
| Infinera Corp. (a)(b) | | 100,874 | 634,497 |
| Lumentum Holdings, Inc. (a) | | 18,853 | 1,086,121 |
| NetScout Systems, Inc. (a) | | 32,301 | 693,825 |
| Telefonaktiebolaget LM Ericsson (B Shares) sponsored ADR | | 110,694 | 824,670 |
| ViaSat, Inc. (a)(b) | | 17,242 | 270,699 |
| Viavi Solutions, Inc. (a) | | 83,851 | 721,957 |
| | | | 56,463,391 |
| Electronic Equipment, Instruments & Components - 0.5% | | | |
| Advanced Energy Industries, Inc. (b) | | 10,459 | 1,109,595 |
| Avnet, Inc. | | 17,938 | 989,819 |
| CDW Corp. | | 30,477 | 6,876,830 |
| Cognex Corp. (b) | | 39,538 | 1,596,544 |
| ePlus, Inc. (a) | | 9,081 | 871,413 |
| Flex Ltd. (a) | | 96,778 | 3,144,317 |
| Innoviz Technologies Ltd. (a)(b) | | 74,253 | 48,933 |
| Insight Enterprises, Inc. (a)(b) | | 6,852 | 1,487,364 |
| Itron, Inc. (a) | | 11,603 | 1,186,059 |
| Lightwave Logic, Inc. (a)(b) | | 83,123 | 245,213 |
| Littelfuse, Inc. (b) | | 6,367 | 1,733,097 |
| Napco Security Technologies, Inc. (b) | | 11,982 | 555,725 |
| Nayax Ltd. (a)(b) | | 7,644 | 179,558 |
| Novanta, Inc. (a)(b) | | 9,684 | 1,774,884 |
| OSI Systems, Inc. (a)(b) | | 5,625 | 843,019 |
| PC Connection, Inc. (b) | | 8,577 | 626,807 |
| Plexus Corp. (a) | | 8,372 | 1,072,537 |
| Sanmina Corp. (a) | | 16,508 | 1,145,325 |
| ScanSource, Inc. (a) | | 11,171 | 569,051 |
| Trimble, Inc. (a) | | 56,498 | 3,202,872 |
| TTM Technologies, Inc. (a) | | 32,826 | 638,466 |
| Zebra Technologies Corp. Class A (a) | | 12,066 | 4,167,355 |
| | | | 34,064,783 |
| IT Services - 0.5% | | | |
| Akamai Technologies, Inc. (a) | | 35,237 | 3,588,536 |
| Amdocs Ltd. | | 25,559 | 2,222,866 |
| Cognizant Technology Solutions Corp. Class A | | 115,206 | 8,959,571 |
| Core Scientific, Inc. (b) | | 60,076 | 619,984 |
| Couchbase, Inc. (a) | | 25,837 | 506,922 |
| GDS Holdings Ltd. ADR (a)(b) | | 40,079 | 682,545 |
| Grid Dynamics Holdings, Inc. (a)(b) | | 36,809 | 512,381 |
| Kingsoft Cloud Holdings Ltd. ADR (a)(b) | | 84,437 | 196,738 |
| MongoDB, Inc. Class A (a) | | 17,859 | 5,193,219 |
| Okta, Inc. Class A (a) | | 39,553 | 3,114,008 |
| Perficient, Inc. (a) | | 11,072 | 832,282 |
| Taoping, Inc. (a)(b) | | 30,062 | 16,020 |
| Thoughtworks Holding, Inc. (a) | | 59,602 | 259,269 |
| VeriSign, Inc. (a) | | 22,019 | 4,049,294 |
| Wix.com Ltd. (a)(b) | | 13,669 | 2,277,529 |
| | | | 33,031,164 |
| Semiconductors & Semiconductor Equipment - 19.6% | | | |
| ACM Research, Inc. Class A, (a)(b) | | 15,799 | 285,014 |
| Advanced Micro Devices, Inc. (a) | | 377,679 | 56,107,992 |
| Allegro MicroSystems LLC (a)(b) | | 61,428 | 1,506,829 |
| Ambarella, Inc. (a) | | 26,298 | 1,569,991 |
| Amkor Technology, Inc. | | 57,022 | 1,876,024 |
| Analog Devices, Inc. | | 115,337 | 27,085,741 |
| Applied Materials, Inc. | | 193,174 | 38,105,503 |
| Arm Holdings Ltd. ADR (b) | | 27,785 | 3,692,071 |
| ASML Holding NV (depository receipt) | | 21,108 | 19,078,888 |
| Axcelis Technologies, Inc. (a) | | 7,681 | 839,764 |
| Broadcom, Inc. | | 1,085,276 | 176,704,638 |
| Camtek Ltd. (b) | | 11,633 | 1,058,836 |
| Canadian Solar, Inc. (a)(b) | | 951 | 12,011 |
| CEVA, Inc. (a) | | 17,796 | 426,036 |
| Cirrus Logic, Inc. (a) | | 12,580 | 1,832,780 |
| Cohu, Inc. (a)(b) | | 18,391 | 494,902 |
| Credo Technology Group Holding Ltd. (a) | | 42,627 | 1,488,109 |
| Diodes, Inc. (a)(b) | | 12,575 | 876,352 |
| Enphase Energy, Inc. (a) | | 33,305 | 4,031,237 |
| Entegris, Inc. | | 35,036 | 4,059,621 |
| First Solar, Inc. (a) | | 24,900 | 5,661,513 |
| FormFactor, Inc. (a) | | 21,002 | 1,024,268 |
| GlobalFoundries, Inc. (a)(b) | | 129,522 | 6,046,087 |
| Ichor Holdings Ltd. (a) | | 13,937 | 432,047 |
| Impinj, Inc. (a) | | 7,200 | 1,210,320 |
| Intel Corp. | | 991,356 | 21,849,486 |
| KLA Corp. | | 31,293 | 25,642,423 |
| Kulicke & Soffa Industries, Inc. | | 17,466 | 765,185 |
| Lam Research Corp. | | 30,432 | 24,984,976 |
| Lattice Semiconductor Corp. (a) | | 35,010 | 1,658,074 |
| MACOM Technology Solutions Holdings, Inc. (a)(b) | | 18,632 | 2,035,173 |
| Marvell Technology, Inc. | | 202,480 | 15,437,075 |
| Microchip Technology, Inc. | | 123,586 | 10,153,826 |
| Micron Technology, Inc. | | 258,099 | 24,839,448 |
| MKS Instruments, Inc. (b) | | 16,639 | 1,983,868 |
| Monolithic Power Systems, Inc. | | 11,210 | 10,477,763 |
| Nova Ltd. (a)(b) | | 7,141 | 1,596,371 |
| NVIDIA Corp. | | 5,767,678 | 688,487,723 |
| NXP Semiconductors NV | | 59,231 | 15,184,459 |
| ON Semiconductor Corp. (a) | | 98,189 | 7,645,977 |
| PDF Solutions, Inc. (a) | | 15,779 | 497,827 |
| Photronics, Inc. (a) | | 22,682 | 586,557 |
| Power Integrations, Inc. (b) | | 15,888 | 1,066,085 |
| Qorvo, Inc. (a) | | 20,350 | 2,358,362 |
| Qualcomm, Inc. | | 260,622 | 45,687,037 |
| Rambus, Inc. (a) | | 26,554 | 1,187,495 |
| Semtech Corp. (a) | | 24,361 | 1,067,499 |
| Silicon Laboratories, Inc. (a)(b) | | 9,481 | 1,122,266 |
| Silicon Motion Tech Corp. sponsored ADR | | 10,135 | 644,282 |
| SiTime Corp. (a)(b) | | 7,214 | 1,043,577 |
| Skyworks Solutions, Inc. | | 35,389 | 3,878,281 |
| SolarEdge Technologies, Inc. (a)(b) | | 31,163 | 758,196 |
| Synaptics, Inc. (a)(b) | | 11,691 | 951,881 |
| Teradyne, Inc. | | 35,956 | 4,916,264 |
| Texas Instruments, Inc. | | 212,269 | 45,497,737 |
| Tower Semiconductor Ltd. (a) | | 27,623 | 1,220,660 |
| Ultra Clean Holdings, Inc. (a) | | 15,019 | 566,216 |
| Universal Display Corp. | | 10,459 | 2,026,117 |
| Veeco Instruments, Inc. (a) | | 18,202 | 645,989 |
| | | | 1,323,970,729 |
| Software - 16.2% | | | |
| ACI Worldwide, Inc. (a) | | 28,613 | 1,440,951 |
| Adeia, Inc. (b) | | 47,530 | 598,878 |
| Adobe, Inc. (a) | | 104,589 | 60,076,967 |
| Agilysys, Inc. (a)(b) | | 8,669 | 980,464 |
| Alarm.com Holdings, Inc. (a)(b) | | 13,818 | 822,724 |
| Alkami Technology, Inc. (a) | | 32,380 | 1,079,549 |
| Altair Engineering, Inc. Class A (a) | | 13,727 | 1,240,372 |
| Amplitude, Inc. Class A, (a)(b) | | 49,500 | 436,095 |
| ANSYS, Inc. (a) | | 19,738 | 6,344,188 |
| AppFolio, Inc. Class A, (a)(b) | | 4,975 | 1,154,150 |
| Appian Corp. Class A (a)(b) | | 18,470 | 599,167 |
| AppLovin Corp. Class A, (a) | | 62,826 | 5,834,651 |
| Aspen Technology, Inc. (a) | | 15,916 | 3,726,572 |
| Atlassian Corp. PLC Class A, (a) | | 37,668 | 6,237,821 |
| Aurora Innovation, Inc. Class A, (a)(b) | | 220,789 | 1,031,085 |
| Autodesk, Inc. (a) | | 49,547 | 12,802,945 |
| AvePoint, Inc. (a)(b) | | 67,781 | 782,871 |
| Bentley Systems, Inc. Class B (b) | | 69,488 | 3,576,547 |
| Blackbaud, Inc. (a) | | 14,069 | 1,176,168 |
| BlackLine, Inc. (a) | | 15,765 | 781,156 |
| Braze, Inc. (a)(b) | | 24,766 | 1,109,021 |
| Cadence Design Systems, Inc. (a) | | 63,077 | 16,963,298 |
| CCC Intelligent Solutions Holdings, Inc. Class A (a) | | 143,994 | 1,552,255 |
| Cellebrite DI Ltd. (a) | | 67,941 | 1,159,073 |
| Check Point Software Technologies Ltd. (a) | | 24,975 | 4,807,688 |
| Cipher Mining, Inc. (a)(b) | | 119,006 | 417,711 |
| Cleanspark, Inc. (a)(b) | | 56,310 | 601,954 |
| Cognyte Software Ltd. (a) | | 47,867 | 366,661 |
| CommVault Systems, Inc. (a) | | 11,932 | 1,854,233 |
| Confluent, Inc. Class A (a)(b) | | 59,370 | 1,259,831 |
| Crowdstrike Holdings, Inc. Class A (a) | | 53,730 | 14,898,254 |
| CyberArk Software Ltd. (a) | | 10,040 | 2,878,870 |
| Datadog, Inc. Class A (a) | | 70,882 | 8,240,741 |
| Descartes Systems Group, Inc. (a) | | 22,266 | 2,246,417 |
| Docebo, Inc. (a)(b) | | 13,447 | 580,104 |
| DocuSign, Inc. (a) | | 45,027 | 2,666,049 |
| Dropbox, Inc. Class A (a) | | 51,960 | 1,306,274 |
| EverCommerce, Inc. (a)(b) | | 62,360 | 667,876 |
| Five9, Inc. (a)(b) | | 20,866 | 672,929 |
| Fortinet, Inc. (a) | | 180,340 | 13,833,881 |
| Freshworks, Inc. Class A (a) | | 71,108 | 830,541 |
| Gen Digital, Inc. | | 137,944 | 3,649,998 |
| GitLab, Inc. Class A (a) | | 32,571 | 1,543,865 |
| HashiCorp, Inc. Class A (a)(b) | | 35,881 | 1,217,801 |
| Hut 8 Mining Corp. (a)(b) | | 35,742 | 361,352 |
| Intapp, Inc. (a) | | 23,468 | 1,084,222 |
| InterDigital, Inc. (b) | | 4,340 | 601,350 |
| Intuit, Inc. | | 65,152 | 41,062,700 |
| Jamf Holding Corp. (a)(b) | | 45,744 | 846,264 |
| JFrog Ltd. (a) | | 27,874 | 773,782 |
| Life360, Inc. | | 17,409 | 686,437 |
| LM Funding America, Inc. (a)(b) | | 25,059 | 71,669 |
| Magic Software Enterprises Ltd. | | 24,613 | 267,051 |
| Manhattan Associates, Inc. (a) | | 13,429 | 3,551,030 |
| Marathon Digital Holdings, Inc. (a)(b) | | 71,326 | 1,191,144 |
| Matterport, Inc. Class A (a)(b) | | 127,098 | 575,754 |
| Microsoft Corp. | | 1,742,719 | 726,957,804 |
| MicroStrategy, Inc. Class A (a) | | 36,883 | 4,884,047 |
| Monday.com Ltd. (a)(b) | | 11,432 | 3,039,654 |
| nCino, Inc. (a) | | 32,840 | 983,886 |
| Nextnav, Inc. Class A (a)(b) | | 52,784 | 404,853 |
| NICE Ltd. sponsored ADR (a) | | 11,661 | 2,025,982 |
| Nutanix, Inc. Class A (a)(b) | | 57,809 | 3,652,951 |
| Open Text Corp. (b) | | 68,016 | 2,164,269 |
| Palo Alto Networks, Inc. (a) | | 75,206 | 27,278,720 |
| Pegasystems, Inc. | | 22,962 | 1,627,547 |
| Progress Software Corp. (b) | | 13,778 | 801,191 |
| PTC, Inc. (a) | | 26,699 | 4,781,524 |
| Qualys, Inc. (a) | | 9,170 | 1,147,809 |
| QXO, Inc. (A Shares) | | 79,877 | 1,103,101 |
| Radware Ltd. (a)(b) | | 23,551 | 513,412 |
| Rapid7, Inc. (a) | | 17,968 | 679,370 |
| Riot Platforms, Inc. (a)(b) | | 53,162 | 400,310 |
| Roper Technologies, Inc. | | 24,669 | 13,676,740 |
| Sapiens International Corp. NV | | 18,852 | 686,024 |
| SoundHound AI, Inc. (a)(b) | | 79,892 | 390,672 |
| Sprout Social, Inc. (a)(b) | | 17,931 | 557,654 |
| SPS Commerce, Inc. (a) | | 9,753 | 1,948,064 |
| Synopsys, Inc. (a) | | 35,668 | 18,532,379 |
| Telos Corp. (a)(b) | | 67,744 | 247,266 |
| Tenable Holdings, Inc. (a) | | 33,875 | 1,398,360 |
| TeraWulf, Inc. (a)(b) | | 107,803 | 470,021 |
| Varonis Systems, Inc. (a)(b) | | 26,938 | 1,524,691 |
| Verint Systems, Inc. (a) | | 18,244 | 575,598 |
| Vertex, Inc. Class A (a)(b) | | 21,952 | 849,323 |
| Workday, Inc. Class A (a) | | 48,565 | 12,781,822 |
| Zoom Video Communications, Inc. Class A (a) | | 59,972 | 4,142,866 |
| Zscaler, Inc. (a)(b) | | 34,216 | 6,842,516 |
| | | | 1,094,191,827 |
| Technology Hardware, Storage & Peripherals - 12.6% | | | |
| Apple, Inc. | | 3,595,399 | 823,346,351 |
| Logitech International SA (b) | | 37,062 | 3,373,013 |
| Nano Dimension Ltd. ADR (a)(b) | | 168,054 | 368,038 |
| NetApp, Inc. | | 46,546 | 5,619,033 |
| Seagate Technology Holdings PLC | | 50,051 | 4,982,577 |
| Super Micro Computer, Inc. (a) | | 13,735 | 6,011,810 |
| Western Digital Corp. (a) | | 77,633 | 5,091,948 |
| Xerox Holdings Corp. (b) | | 61,063 | 691,844 |
| | | | 849,484,614 |
TOTAL INFORMATION TECHNOLOGY | | | 3,391,206,508 |
| MATERIALS - 1.0% | | | |
| Chemicals - 0.9% | | | |
| Alto Ingredients, Inc. (a) | | 80,467 | 111,044 |
| Balchem Corp. | | 8,911 | 1,577,514 |
| Hawkins, Inc. | | 7,545 | 955,725 |
| Innospec, Inc. | | 7,601 | 876,091 |
| Linde PLC | | 112,176 | 53,648,172 |
| Methanex Corp. | | 20,639 | 963,635 |
| PureCycle Technologies, Inc. (a)(b) | | 77,011 | 469,767 |
| | | | 58,601,948 |
| Construction Materials - 0.0% | | | |
| United States Lime & Minerals, Inc. | | 9,299 | 760,007 |
| Containers & Packaging - 0.0% | | | |
| Pactiv Evergreen, Inc. (b) | | 57,731 | 681,226 |
| TriMas Corp. | | 15,525 | 396,043 |
| | | | 1,077,269 |
| Metals & Mining - 0.1% | | | |
| Century Aluminum Co. (a) | | 37,252 | 534,939 |
| Ferroglobe PLC | | 89,944 | 397,552 |
| Kaiser Aluminum Corp. | | 6,048 | 450,878 |
| Radius Recycling, Inc. Class A | | 16,552 | 250,597 |
| Royal Gold, Inc. | | 17,350 | 2,431,950 |
| SSR Mining, Inc. (b) | | 53,058 | 275,371 |
| Steel Dynamics, Inc. | | 36,283 | 4,336,181 |
| | | | 8,677,468 |
TOTAL MATERIALS | | | 69,116,692 |
| REAL ESTATE - 0.9% | | | |
| Equity Real Estate Investment Trusts (REITs) - 0.7% | | | |
| Diversified Healthcare Trust (SBI) | | 116,709 | 406,147 |
| Equinix, Inc. | | 21,943 | 18,308,361 |
| Gaming & Leisure Properties | | 58,283 | 3,031,882 |
| Host Hotels & Resorts, Inc. | | 152,084 | 2,691,887 |
| Lamar Advertising Co. Class A | | 18,518 | 2,329,194 |
| Lineage, Inc. | | 49,225 | 4,129,978 |
| Phillips Edison & Co., Inc. (b) | | 32,563 | 1,203,528 |
| PotlatchDeltic Corp. | | 24,538 | 1,066,421 |
| Regency Centers Corp. | | 41,944 | 3,048,909 |
| Retail Opportunity Investments Corp. | | 39,106 | 597,931 |
| Sabra Health Care REIT, Inc. | | 66,747 | 1,137,369 |
| SBA Communications Corp. Class A | | 24,093 | 5,460,919 |
| Service Properties Trust | | 168,720 | 791,297 |
| Uniti Group, Inc. | | 99,148 | 432,285 |
| | | | 44,636,108 |
| Real Estate Management & Development - 0.2% | | | |
| Colliers International Group, Inc. (b) | | 10,864 | 1,567,241 |
| Comstock Holding Companies, Inc. (a) | | 136,594 | 958,890 |
| CoStar Group, Inc. (a) | | 93,136 | 7,199,413 |
| eXp World Holdings, Inc. (b) | | 77,376 | 909,942 |
| FirstService Corp. | | 10,961 | 1,973,528 |
| Newmark Group, Inc. Class A | | 48,967 | 677,214 |
| Zillow Group, Inc.: | | | |
| Class A (a) | | 13,104 | 700,147 |
| Class C (a) | | 41,299 | 2,283,835 |
| | | | 16,270,210 |
TOTAL REAL ESTATE | | | 60,906,318 |
| UTILITIES - 0.8% | | | |
| Electric Utilities - 0.8% | | | |
| Alliant Energy Corp. | | 56,739 | 3,306,182 |
| American Electric Power Co., Inc. | | 120,882 | 12,122,047 |
| Constellation Energy Corp. | | 74,347 | 14,624,055 |
| Evergy, Inc. | | 49,414 | 2,922,344 |
| Exelon Corp. | | 227,674 | 8,672,103 |
| MGE Energy, Inc. (b) | | 10,656 | 923,928 |
| Otter Tail Corp. (b) | | 11,918 | 1,007,667 |
| Xcel Energy, Inc. | | 133,414 | 8,168,939 |
| | | | 51,747,265 |
| Independent Power and Renewable Electricity Producers - 0.0% | | | |
| Atlantica Sustainable Infrastructure PLC | | 28,381 | 618,990 |
| Enlight Renewable Energy Ltd. (a) | | 33,523 | 555,141 |
| Montauk Renewables, Inc. (a)(b) | | 79,586 | 373,258 |
| ReNew Energy Global PLC (a)(b) | | 89,827 | 504,828 |
| Talen Energy Corp. (a) | | 11,923 | 1,783,800 |
| | | | 3,836,017 |
| Multi-Utilities - 0.0% | | | |
| NorthWestern Energy Corp. | | 14,810 | 805,516 |
| Water Utilities - 0.0% | | | |
| Middlesex Water Co. (b) | | 8,788 | 553,732 |
TOTAL UTILITIES | | | 56,942,530 |
| TOTAL COMMON STOCKS (Cost $3,406,844,040) | | | 6,730,906,945 |
| | | | |
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
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)
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 service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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