Common Stocks - 93.8% |
| | Shares | Value ($) |
COMMUNICATION SERVICES - 10.8% | | | |
Entertainment - 1.0% | | | |
Activision Blizzard, Inc. | | 83,600 | 6,214,824 |
Netflix, Inc. (a) | | 202,209 | 47,608,087 |
The Walt Disney Co. (a) | | 12,572 | 1,185,917 |
Universal Music Group NV | | 705,852 | 13,220,643 |
Warner Music Group Corp. Class A | | 106,127 | 2,463,208 |
| | | 70,692,679 |
Interactive Media & Services - 9.4% | | | |
Alphabet, Inc.: | | | |
Class A (a) | | 1,522,140 | 145,592,691 |
Class C (a) | | 1,940,400 | 186,569,460 |
Bumble, Inc. (a) | | 198,600 | 4,267,914 |
Meta Platforms, Inc. Class A (a) | | 2,458,554 | 333,576,607 |
Pinterest, Inc. Class A (a) | | 94,900 | 2,211,170 |
| | | 672,217,842 |
Media - 0.2% | | | |
Liberty Media Corp. Liberty Formula One Group Series C (a) | | 197,352 | 11,545,092 |
Wireless Telecommunication Services - 0.2% | | | |
T-Mobile U.S., Inc. (a) | | 97,600 | 13,094,992 |
TOTAL COMMUNICATION SERVICES | | | 767,550,605 |
CONSUMER DISCRETIONARY - 10.8% | | | |
Automobiles - 1.8% | | | |
General Motors Co. | | 221,372 | 7,103,827 |
Hyundai Motor Co. | | 86,200 | 10,437,143 |
Rad Power Bikes, Inc. (a)(b)(c) | | 145,919 | 636,207 |
Rivian Automotive, Inc. | | 11,042 | 363,392 |
Tesla, Inc. (a) | | 326,300 | 86,551,075 |
Toyota Motor Corp. | | 1,647,400 | 21,532,265 |
| | | 126,623,909 |
Diversified Consumer Services - 0.0% | | | |
Duolingo, Inc. (a) | | 826 | 78,660 |
Hotels, Restaurants & Leisure - 1.1% | | | |
Airbnb, Inc. Class A (a) | | 285,700 | 30,009,928 |
Chipotle Mexican Grill, Inc. (a) | | 6,254 | 9,398,261 |
Evolution AB (d) | | 9,100 | 719,333 |
Hilton Worldwide Holdings, Inc. | | 130,013 | 15,682,168 |
Hyatt Hotels Corp. Class A (a) | | 7,708 | 624,040 |
McDonald's Corp. | | 83,800 | 19,336,012 |
Starbucks Corp. | | 8,200 | 690,932 |
| | | 76,460,674 |
Household Durables - 0.2% | | | |
Blu Investments LLC (a)(b)(c) | | 21,093,998 | 6,539 |
Lennar Corp. Class A | | 213,648 | 15,927,458 |
| | | 15,933,997 |
Internet & Direct Marketing Retail - 5.1% | | | |
Alibaba Group Holding Ltd. sponsored ADR (a) | | 9,400 | 751,906 |
Amazon.com, Inc. (a) | | 3,083,540 | 348,440,020 |
Cazoo Group Ltd. Class A (a) | | 422,493 | 194,347 |
Coupang, Inc. Class A (a)(e) | | 575,926 | 9,600,686 |
Deliveroo PLC Class A (a)(d) | | 1,950,600 | 1,833,715 |
Doordash, Inc. (a) | | 8,700 | 430,215 |
Global-e Online Ltd. (a) | | 16,500 | 441,540 |
MercadoLibre, Inc. (a) | | 1,900 | 1,572,782 |
Wayfair LLC Class A (a) | | 6,160 | 200,508 |
| | | 363,465,719 |
Multiline Retail - 0.4% | | | |
Dollar Tree, Inc. (a) | | 186,551 | 25,389,591 |
Dollarama, Inc. | | 24,200 | 1,389,264 |
Kohl's Corp. | | 24,600 | 618,690 |
| | | 27,397,545 |
Specialty Retail - 2.0% | | | |
Academy Sports & Outdoors, Inc. | | 235,668 | 9,940,476 |
AutoZone, Inc. (a) | | 5,841 | 12,511,013 |
Dick's Sporting Goods, Inc. | | 148,585 | 15,547,934 |
Fanatics, Inc. Class A (a)(b)(c) | | 139,938 | 10,572,316 |
National Vision Holdings, Inc. (a)(e) | | 100,296 | 3,274,664 |
O'Reilly Automotive, Inc. (a) | | 36,346 | 25,563,959 |
The Home Depot, Inc. | | 100,066 | 27,612,212 |
TJX Companies, Inc. | | 21,400 | 1,329,368 |
Ulta Beauty, Inc. (a) | | 59,500 | 23,870,805 |
Williams-Sonoma, Inc. | | 115,114 | 13,566,185 |
| | | 143,788,932 |
Textiles, Apparel & Luxury Goods - 0.2% | | | |
China Hongxing Sports Ltd. (a)(c) | | 22,200 | 876 |
Deckers Outdoor Corp. (a) | | 13,284 | 4,152,711 |
Dr. Martens Ltd. | | 979,488 | 2,399,880 |
lululemon athletica, Inc. (a) | | 10,834 | 3,028,753 |
LVMH Moet Hennessy Louis Vuitton SE | | 1,100 | 648,532 |
NIKE, Inc. Class B | | 20,543 | 1,707,534 |
On Holding AG | | 301,800 | 4,843,890 |
| | | 16,782,176 |
TOTAL CONSUMER DISCRETIONARY | | | 770,531,612 |
CONSUMER STAPLES - 3.2% | | | |
Beverages - 1.7% | | | |
Anheuser-Busch InBev SA NV | | 44,100 | 1,997,582 |
Constellation Brands, Inc. Class A (sub. vtg.) | | 31,800 | 7,303,824 |
Diageo PLC | | 133,707 | 5,628,199 |
Keurig Dr. Pepper, Inc. | | 78,800 | 2,822,616 |
PepsiCo, Inc. | | 254,900 | 41,614,974 |
The Coca-Cola Co. | | 1,048,050 | 58,711,761 |
The Vita Coco Co., Inc. (e) | | 2,400 | 27,336 |
| | | 118,106,292 |
Food & Staples Retailing - 1.1% | | | |
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | | 62,700 | 2,524,159 |
Costco Wholesale Corp. | | 163,537 | 77,233,619 |
| | | 79,757,778 |
Food Products - 0.1% | | | |
General Mills, Inc. | | 18,400 | 1,409,624 |
Mondelez International, Inc. | | 70,400 | 3,860,032 |
Nestle SA (Reg. S) | | 11,180 | 1,209,199 |
| | | 6,478,855 |
Household Products - 0.2% | | | |
Procter & Gamble Co. | | 101,100 | 12,763,875 |
Personal Products - 0.1% | | | |
L'Oreal SA (a) | | 13,125 | 4,196,615 |
L'Oreal SA (a) | | 12,803 | 4,093,658 |
Olaplex Holdings, Inc. | | 163,020 | 1,556,841 |
| | | 9,847,114 |
TOTAL CONSUMER STAPLES | | | 226,953,914 |
ENERGY - 10.7% | | | |
Energy Equipment & Services - 0.1% | | | |
Halliburton Co. | | 264,100 | 6,502,142 |
Oil, Gas & Consumable Fuels - 10.6% | | | |
Antero Resources Corp. (a) | | 16,900 | 515,957 |
Birchcliff Energy Ltd. | | 34,100 | 242,170 |
Canadian Natural Resources Ltd. | | 390,400 | 18,172,599 |
Cenovus Energy, Inc. (Canada) | | 119,900 | 1,841,878 |
Cheniere Energy, Inc. | | 190,636 | 31,628,419 |
Chevron Corp. | | 738,900 | 106,157,763 |
ConocoPhillips Co. | | 1,127,477 | 115,385,996 |
Continental Resources, Inc. | | 230,400 | 15,393,024 |
Devon Energy Corp. | | 582,000 | 34,995,660 |
Diamondback Energy, Inc. | | 189,046 | 22,772,481 |
EOG Resources, Inc. | | 341,300 | 38,133,449 |
EQT Corp. | | 33,100 | 1,348,825 |
Equinor ASA | | 19,400 | 639,787 |
Exxon Mobil Corp. | | 1,992,400 | 173,956,444 |
Hess Corp. | | 302,344 | 32,952,473 |
Occidental Petroleum Corp. | | 1,114,100 | 68,461,445 |
Phillips 66 Co. | | 173,000 | 13,964,560 |
Pioneer Natural Resources Co. | | 176,300 | 38,174,239 |
Suncor Energy, Inc. | | 387,200 | 10,903,884 |
Tourmaline Oil Corp. | | 19,800 | 1,029,024 |
Valero Energy Corp. | | 320,500 | 34,245,425 |
| | | 760,915,502 |
TOTAL ENERGY | | | 767,417,644 |
FINANCIALS - 13.7% | | | |
Banks - 2.9% | | | |
Banco Santander SA (Spain) | | 540,200 | 1,256,992 |
Bank of America Corp. | | 3,205,662 | 96,810,992 |
Citigroup, Inc. | | 39,500 | 1,645,965 |
JPMorgan Chase & Co. | | 430,824 | 45,021,108 |
Nu Holdings Ltd. (e) | | 147,800 | 650,320 |
Royal Bank of Canada | | 266,300 | 23,976,350 |
Starling Bank Ltd. Series D (a)(b)(c) | | 1,611,012 | 4,137,184 |
The Toronto-Dominion Bank | | 270,600 | 16,596,251 |
Wells Fargo & Co. | | 302,000 | 12,146,440 |
| | | 202,241,602 |
Capital Markets - 1.9% | | | |
BlackRock, Inc. Class A | | 600 | 330,168 |
Blackstone, Inc. | | 7,000 | 585,900 |
Brookfield Asset Management, Inc. (Canada) Class A | | 62,000 | 2,536,374 |
Charles Schwab Corp. | | 62,600 | 4,499,062 |
Goldman Sachs Group, Inc. | | 140,373 | 41,136,308 |
Morgan Stanley | | 1,085,300 | 85,749,553 |
MSCI, Inc. | | 1,011 | 426,430 |
| | | 135,263,795 |
Consumer Finance - 0.0% | | | |
American Express Co. | | 7,000 | 944,370 |
Diversified Financial Services - 5.8% | | | |
Berkshire Hathaway, Inc. Class A (a) | | 1,022 | 415,412,335 |
Insurance - 3.1% | | | |
Admiral Group PLC | | 118,141 | 2,509,744 |
American International Group, Inc. | | 272,400 | 12,933,552 |
Aon PLC | | 4,400 | 1,178,628 |
Arthur J. Gallagher & Co. | | 51,611 | 8,836,835 |
Brookfield Asset Management Reinsurance Partners Ltd. | | 480 | 19,640 |
Chubb Ltd. | | 211,368 | 38,443,612 |
Fairfax Financial Holdings Ltd. (sub. vtg.) | | 14,400 | 6,576,766 |
Hartford Financial Services Group, Inc. | | 78,000 | 4,831,320 |
Intact Financial Corp. | | 44,360 | 6,277,870 |
Marsh & McLennan Companies, Inc. | | 36,100 | 5,389,369 |
Progressive Corp. | | 559,000 | 64,961,390 |
The Travelers Companies, Inc. | | 458,808 | 70,289,386 |
W.R. Berkley Corp. | | 19,600 | 1,265,768 |
| | | 223,513,880 |
TOTAL FINANCIALS | | | 977,375,982 |
HEALTH CARE - 17.2% | | | |
Biotechnology - 4.8% | | | |
AbbVie, Inc. | | 4,329 | 580,995 |
Alnylam Pharmaceuticals, Inc. (a) | | 10,700 | 2,141,712 |
Argenx SE ADR (a) | | 14,527 | 5,128,757 |
Biohaven Pharmaceutical Holding Co. Ltd. (a) | | 2,933 | 443,382 |
BioMarin Pharmaceutical, Inc. (a) | | 8,200 | 695,114 |
Galapagos NV sponsored ADR (a) | | 71,500 | 3,048,760 |
Intellia Therapeutics, Inc. (a) | | 23,283 | 1,302,917 |
Legend Biotech Corp. ADR (a) | | 46,400 | 1,893,120 |
Neurocrine Biosciences, Inc. (a) | | 37,691 | 4,003,161 |
Regeneron Pharmaceuticals, Inc. (a) | | 244,323 | 168,306,785 |
United Therapeutics Corp. (a) | | 45,056 | 9,433,825 |
Vertex Pharmaceuticals, Inc. (a) | | 502,300 | 145,435,942 |
Verve Therapeutics, Inc. (a) | | 4,400 | 151,140 |
Zai Lab Ltd. (a) | | 230,060 | 783,211 |
| | | 343,348,821 |
Health Care Equipment & Supplies - 0.3% | | | |
Edwards Lifesciences Corp. (a) | | 122,547 | 10,126,059 |
Figs, Inc. Class A (a) | | 11,000 | 90,750 |
Intuitive Surgical, Inc. (a) | | 60,950 | 11,424,468 |
Straumann Holding AG | | 13,083 | 1,196,574 |
| | | 22,837,851 |
Health Care Providers & Services - 5.5% | | | |
23andMe Holding Co. Class B (a)(d) | | 679,707 | 1,943,962 |
AmerisourceBergen Corp. | | 40,600 | 5,494,398 |
Cardinal Health, Inc. | | 140,300 | 9,355,204 |
Centene Corp. (a) | | 99,300 | 7,726,533 |
Cigna Corp. | | 114,300 | 31,714,821 |
dentalcorp Holdings Ltd. (a) | | 41,736 | 240,201 |
Elevance Health, Inc. | | 85,300 | 38,746,672 |
Guardant Health, Inc. (a) | | 4,627 | 249,071 |
HCA Holdings, Inc. | | 60,600 | 11,137,674 |
Molina Healthcare, Inc. (a) | | 12,300 | 4,057,032 |
Option Care Health, Inc. (a) | | 112,794 | 3,549,627 |
P3 Health Partners, Inc. (a)(b) | | 160,486 | 704,373 |
UnitedHealth Group, Inc. | | 542,378 | 273,922,585 |
| | | 388,842,153 |
Life Sciences Tools & Services - 1.0% | | | |
Danaher Corp. | | 196,235 | 50,685,538 |
Mettler-Toledo International, Inc. (a) | | 5,756 | 6,240,195 |
Thermo Fisher Scientific, Inc. | | 6,760 | 3,428,604 |
Veterinary Emergency Group LLC Class A (b)(c)(f) | | 58,287 | 3,702,390 |
Waters Corp. (a) | | 27,000 | 7,277,310 |
| | | 71,334,037 |
Pharmaceuticals - 5.6% | | | |
AstraZeneca PLC sponsored ADR | | 335,100 | 18,376,884 |
Bristol-Myers Squibb Co. | | 770,400 | 54,767,736 |
Eli Lilly & Co. | | 504,952 | 163,276,229 |
Intra-Cellular Therapies, Inc. (a) | | 25,678 | 1,194,797 |
Johnson & Johnson | | 335,500 | 54,807,280 |
Merck & Co., Inc. | | 494,600 | 42,594,952 |
Nuvation Bio, Inc. (a) | | 82,324 | 184,406 |
Pfizer, Inc. | | 618,500 | 27,065,560 |
Roche Holding AG (participation certificate) | | 47,670 | 15,518,147 |
Royalty Pharma PLC | | 554,200 | 22,267,756 |
| | | 400,053,747 |
TOTAL HEALTH CARE | | | 1,226,416,609 |
INDUSTRIALS - 4.6% | | | |
Aerospace & Defense - 1.8% | | | |
Lockheed Martin Corp. | | 155,400 | 60,029,466 |
Northrop Grumman Corp. | | 108,000 | 50,794,560 |
Space Exploration Technologies Corp.: | | | |
Class A (a)(b)(c) | | 212,910 | 14,903,700 |
Class C (a)(b)(c) | | 7,830 | 548,100 |
| | | 126,275,826 |
Air Freight & Logistics - 1.2% | | | |
C.H. Robinson Worldwide, Inc. | | 7,800 | 751,218 |
Delhivery Private Ltd. (a)(b) | | 326,200 | 2,215,794 |
United Parcel Service, Inc. Class B | | 518,015 | 83,680,143 |
Zipline International, Inc. (b)(c) | | 28,830 | 725,939 |
| | | 87,373,094 |
Building Products - 0.1% | | | |
Carlisle Companies, Inc. | | 9,700 | 2,719,977 |
Fortune Brands Home & Security, Inc. | | 1,358 | 72,911 |
Toto Ltd. | | 214,520 | 7,144,244 |
| | | 9,937,132 |
Commercial Services & Supplies - 0.2% | | | |
Aurora Innovation, Inc. (a) | | 86,681 | 191,565 |
Cintas Corp. | | 14,931 | 5,796,065 |
Clean Harbors, Inc. (a) | | 51,571 | 5,671,779 |
Clean TeQ Water Pty Ltd. (a) | | 2,653 | 832 |
TulCo LLC (a)(b)(c)(f) | | 7,549 | 4,661,658 |
| | | 16,321,899 |
Electrical Equipment - 0.0% | | | |
Hubbell, Inc. Class B | | 5,000 | 1,115,000 |
SES AI Corp. Class A (a)(e) | | 2,200 | 10,736 |
| | | 1,125,736 |
Industrial Conglomerates - 0.4% | | | |
General Electric Co. | | 413,937 | 25,626,840 |
Machinery - 0.3% | | | |
Deere & Co. | | 35,700 | 11,919,873 |
Fortive Corp. | | 23,800 | 1,387,540 |
PACCAR, Inc. | | 100,027 | 8,371,260 |
| | | 21,678,673 |
Road & Rail - 0.5% | | | |
Canadian Pacific Railway Ltd. | | 219,000 | 14,619,025 |
J.B. Hunt Transport Services, Inc. | | 53,600 | 8,384,112 |
Old Dominion Freight Lines, Inc. | | 21,900 | 5,448,063 |
Union Pacific Corp. | | 20,400 | 3,974,328 |
| | | 32,425,528 |
Trading Companies & Distributors - 0.1% | | | |
W.W. Grainger, Inc. | | 10,719 | 5,243,628 |
TOTAL INDUSTRIALS | | | 326,008,356 |
INFORMATION TECHNOLOGY - 19.0% | | | |
Communications Equipment - 0.2% | | | |
Arista Networks, Inc. (a) | | 108,328 | 12,229,148 |
Electronic Equipment & Components - 1.6% | | | |
Amphenol Corp. Class A | | 1,705,487 | 114,199,410 |
CDW Corp. | | 17,833 | 2,783,375 |
| | | 116,982,785 |
IT Services - 1.4% | | | |
Accenture PLC Class A | | 332,329 | 85,508,252 |
Adyen BV (a)(d) | | 2,895 | 3,610,534 |
Affirm Holdings, Inc. (a)(e) | | 32,900 | 617,204 |
ASAC II LP (a)(b)(c) | | 2,013,117 | 338,204 |
Cloudflare, Inc. (a) | | 46,180 | 2,554,216 |
Cognizant Technology Solutions Corp. Class A | | 52,669 | 3,025,307 |
MongoDB, Inc. Class A (a) | | 8,040 | 1,596,422 |
PayPal Holdings, Inc. (a) | | 7,900 | 679,953 |
Shopify, Inc. Class A (a) | | 8,168 | 219,907 |
Snowflake, Inc. (a) | | 1,802 | 306,268 |
| | | 98,456,267 |
Semiconductors & Semiconductor Equipment - 5.0% | | | |
Advanced Micro Devices, Inc. (a) | | 962,953 | 61,012,702 |
Analog Devices, Inc. | | 136,300 | 18,992,042 |
Enphase Energy, Inc. (a) | | 43,500 | 12,069,945 |
Lattice Semiconductor Corp. (a) | | 41,365 | 2,035,572 |
Marvell Technology, Inc. | | 194,775 | 8,357,795 |
Monolithic Power Systems, Inc. | | 10,000 | 3,634,000 |
NVIDIA Corp. | | 1,075,360 | 130,537,950 |
onsemi (a) | | 487,000 | 30,354,710 |
Qualcomm, Inc. | | 612,737 | 69,227,026 |
Skyworks Solutions, Inc. | | 14,000 | 1,193,780 |
SolarEdge Technologies, Inc. (a) | | 2,400 | 555,504 |
Synaptics, Inc. (a) | | 169,175 | 16,750,017 |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | | 10,700 | 733,592 |
| | | 355,454,635 |
Software - 6.6% | | | |
Adobe, Inc. (a) | | 130,666 | 35,959,283 |
Aspen Technology, Inc. (a) | | 4,500 | 1,071,900 |
Atlassian Corp. PLC (a) | | 72,781 | 15,326,951 |
Cadence Design Systems, Inc. (a) | | 373,062 | 60,969,523 |
Check Point Software Technologies Ltd. (a) | | 25,700 | 2,878,914 |
Clear Secure, Inc. (a)(e) | | 84,932 | 1,941,546 |
Epic Games, Inc. (a)(b)(c) | | 7,100 | 6,103,231 |
Fortinet, Inc. (a) | | 151,627 | 7,449,435 |
Intuit, Inc. | | 11,283 | 4,370,132 |
Magic Leap, Inc.: | | | |
Class A (c) | | 72,297 | 949,983 |
warrants (a)(c) | | 39,573 | 519,989 |
Microsoft Corp. | | 1,091,549 | 254,221,762 |
Salesforce.com, Inc. (a) | | 520,407 | 74,855,343 |
Stripe, Inc. Class B (a)(b)(c) | | 26,700 | 635,727 |
Synopsys, Inc. (a) | | 6,700 | 2,046,917 |
Tanium, Inc. Class B (a)(b)(c) | | 408,212 | 3,600,430 |
| | | 472,901,066 |
Technology Hardware, Storage & Peripherals - 4.2% | | | |
Apple, Inc. | | 2,076,800 | 287,013,760 |
Dell Technologies, Inc. | | 372,819 | 12,739,225 |
Pure Storage, Inc. Class A (a) | | 17,100 | 468,027 |
| | | 300,221,012 |
TOTAL INFORMATION TECHNOLOGY | | | 1,356,244,913 |
MATERIALS - 2.9% | | | |
Chemicals - 0.9% | | | |
Air Products & Chemicals, Inc. | | 3,000 | 698,190 |
Albemarle Corp. | | 45,900 | 12,137,796 |
CF Industries Holdings, Inc. | | 246,100 | 23,687,125 |
Corteva, Inc. | | 218,500 | 12,487,275 |
LG Chemical Ltd. | | 1,550 | 567,822 |
Nutrien Ltd. (a) | | 79,500 | 6,628,710 |
Sherwin-Williams Co. | | 1,734 | 355,037 |
The Mosaic Co. | | 47,000 | 2,271,510 |
Westlake Corp. | | 96,452 | 8,379,750 |
| | | 67,213,215 |
Metals & Mining - 2.0% | | | |
B2Gold Corp. | | 1,646,929 | 5,293,636 |
Barrick Gold Corp. (Canada) | | 144,066 | 2,232,927 |
Cleveland-Cliffs, Inc. (a) | | 241,600 | 3,254,352 |
Franco-Nevada Corp. | | 299,817 | 35,812,651 |
Freeport-McMoRan, Inc. | | 691,000 | 18,885,030 |
Glencore PLC | | 210,000 | 1,103,554 |
Ivanhoe Electric, Inc. (a) | | 46,500 | 383,625 |
Ivanhoe Mines Ltd. (a) | | 3,314,587 | 21,331,797 |
Novagold Resources, Inc. (a) | | 493,634 | 2,329,962 |
Nucor Corp. | | 354,273 | 37,903,668 |
POSCO sponsored ADR | | 7,872 | 288,194 |
Steel Dynamics, Inc. | | 201,021 | 14,262,440 |
Sunrise Energy Metals Ltd. (a) | | 5,306 | 8,146 |
| | | 143,089,982 |
TOTAL MATERIALS | | | 210,303,197 |
REAL ESTATE - 0.1% | | | |
Equity Real Estate Investment Trusts (REITs) - 0.1% | | | |
Equity Commonwealth (a) | | 136,691 | 3,329,793 |
Prologis (REIT), Inc. | | 57,579 | 5,850,026 |
Welltower Op | | 27,900 | 1,794,528 |
| | | 10,974,347 |
UTILITIES - 0.8% | | | |
Electric Utilities - 0.8% | | | |
Constellation Energy Corp. | | 108,569 | 9,031,855 |
Exelon Corp. | | 21,300 | 797,898 |
NextEra Energy, Inc. | | 59,600 | 4,673,236 |
NRG Energy, Inc. | | 293,600 | 11,236,072 |
PG&E Corp. (a) | | 346,500 | 4,331,250 |
Southern Co. | | 348,854 | 23,722,072 |
| | | 53,792,383 |
Multi-Utilities - 0.0% | | | |
Sempra Energy | | 8,800 | 1,319,472 |
TOTAL UTILITIES | | | 55,111,855 |
TOTAL COMMON STOCKS (Cost $4,958,715,854) | | | 6,694,889,034 |
| | | |
Preferred Stocks - 1.3% |
| | Shares | Value ($) |
Convertible Preferred Stocks - 1.1% | | | |
COMMUNICATION SERVICES - 0.0% | | | |
Interactive Media & Services - 0.0% | | | |
Reddit, Inc.: | | | |
Series E(a)(b)(c) | | 9,600 | 380,256 |
Series F(a)(b)(c) | | 49,896 | 1,976,381 |
| | | 2,356,637 |
CONSUMER DISCRETIONARY - 0.1% | | | |
Automobiles - 0.0% | | | |
Rad Power Bikes, Inc.: | | | |
Series A(a)(b)(c) | | 19,024 | 82,945 |
Series C(a)(b)(c) | | 74,857 | 326,377 |
Series D(a)(b)(c) | | 127,700 | 556,772 |
| | | 966,094 |
Hotels, Restaurants & Leisure - 0.0% | | | |
Discord, Inc. Series I (a)(b)(c) | | 800 | 298,920 |
| | | |
Internet & Direct Marketing Retail - 0.1% | | | |
Circle Internet Financial Ltd. Series F (a)(b) | | 38,025 | 1,851,523 |
GoBrands, Inc.: | | | |
Series G(a)(b)(c) | | 3,340 | 657,880 |
Series H(a)(b)(c) | | 3,970 | 781,971 |
| | | 3,291,374 |
TOTAL CONSUMER DISCRETIONARY | | | 4,556,388 |
| | | |
CONSUMER STAPLES - 0.0% | | | |
Food Products - 0.0% | | | |
Bowery Farming, Inc. Series C1 (a)(b)(c) | | 13,266 | 373,438 |
| | | |
HEALTH CARE - 0.0% | | | |
Biotechnology - 0.0% | | | |
ElevateBio LLC Series C (a)(b)(c) | | 194,500 | 889,449 |
| | | |
Health Care Providers & Services - 0.0% | | | |
Lyra Health, Inc.: | | | |
Series E(a)(b)(c) | | 79,800 | 1,169,070 |
Series F(a)(b)(c) | | 4,099 | 60,050 |
Somatus, Inc. Series E (a)(b)(c) | | 842 | 778,842 |
| | | 2,007,962 |
TOTAL HEALTH CARE | | | 2,897,411 |
| | | |
INDUSTRIALS - 0.8% | | | |
Aerospace & Defense - 0.7% | | | |
Relativity Space, Inc. Series E (a)(b)(c) | | 125,290 | 2,440,649 |
Space Exploration Technologies Corp.: | | | |
Series G(a)(b)(c) | | 36,460 | 25,522,000 |
Series H(a)(b)(c) | | 7,256 | 5,079,200 |
Series N(a)(b)(c) | | 24,552 | 17,186,400 |
| | | 50,228,249 |
Air Freight & Logistics - 0.1% | | | |
Zipline International, Inc. Series E (a)(b)(c) | | 66,084 | 1,663,995 |
| | | |
Construction & Engineering - 0.0% | | | |
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c) | | 15,787 | 1,387,835 |
| | | |
TOTAL INDUSTRIALS | | | 53,280,079 |
| | | |
INFORMATION TECHNOLOGY - 0.2% | | | |
IT Services - 0.1% | | | |
ByteDance Ltd. Series E1 (a)(b)(c) | | 37,932 | 6,327,058 |
| | | |
Software - 0.1% | | | |
Delphix Corp. Series D (a)(b)(c) | | 232,855 | 1,611,357 |
Nuro, Inc.: | | | |
Series C(a)(b)(c) | | 190,290 | 2,692,604 |
Series D(b)(c) | | 36,736 | 519,814 |
Stripe, Inc. Series H (a)(b)(c) | | 11,500 | 273,815 |
Tenstorrent, Inc. Series C1 (a)(b)(c) | | 12,300 | 538,125 |
| | | 5,635,715 |
TOTAL INFORMATION TECHNOLOGY | | | 11,962,773 |
| | | |
TOTAL CONVERTIBLE PREFERRED STOCKS | | | 75,426,726 |
Nonconvertible Preferred Stocks - 0.2% | | | |
CONSUMER DISCRETIONARY - 0.0% | | | |
Internet & Direct Marketing Retail - 0.0% | | | |
Circle Internet Financial Ltd. Series E (a)(b) | | 61,811 | 3,009,717 |
| | | |
ENERGY - 0.1% | | | |
Oil, Gas & Consumable Fuels - 0.1% | | | |
Petroleo Brasileiro SA - Petrobras sponsored ADR | | 586,100 | 7,232,474 |
| | | |
INFORMATION TECHNOLOGY - 0.1% | | | |
Software - 0.1% | | | |
Magic Leap, Inc. Series AA (c) | | 275,569 | 5,114,561 |
| | | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | | | 15,356,752 |
TOTAL PREFERRED STOCKS (Cost $54,308,923) | | | 90,783,478 |
| | | |
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
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)
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. Preferred Securities 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.
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.
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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