| Common Stocks - 98.4% |
| | | Shares | Value ($) |
| COMMUNICATION SERVICES - 8.3% | | | |
| Diversified Telecommunication Services - 0.3% | | | |
| AT&T, Inc. | | 825,900 | 12,405,018 |
| Liberty Global PLC Class C (a) | | 42,600 | 790,656 |
| | | | 13,195,674 |
| Entertainment - 1.4% | | | |
| Cinemark Holdings, Inc. (a)(b) | | 100,600 | 1,846,010 |
| Electronic Arts, Inc. | | 34,500 | 4,153,800 |
| Endeavor Group Holdings, Inc. | | 31,400 | 624,860 |
| Lions Gate Entertainment Corp.: | | | |
| Class A (a) | | 20,900 | 177,232 |
| Class B (a) | | 111,500 | 877,505 |
| Marcus Corp. (b) | | 78,400 | 1,215,200 |
| Netflix, Inc. (a) | | 58,200 | 21,976,320 |
| Sea Ltd. ADR (a) | | 129,700 | 5,700,315 |
| Take-Two Interactive Software, Inc. (a) | | 33,700 | 4,731,143 |
| The Walt Disney Co. (a) | | 115,200 | 9,336,960 |
| TKO Group Holdings, Inc. | | 43,523 | 3,658,543 |
| Warner Music Group Corp. Class A | | 43,300 | 1,359,620 |
| | | | 55,657,508 |
| Interactive Media & Services - 5.7% | | | |
| Alphabet, Inc. Class A (a) | | 1,123,700 | 147,047,382 |
| Angi, Inc. (a) | | 612,400 | 1,212,552 |
| IAC, Inc. (a) | | 3,400 | 171,326 |
| Meta Platforms, Inc. Class A (a) | | 226,500 | 67,997,565 |
| Pinterest, Inc. Class A (a) | | 144,200 | 3,897,726 |
| Snap, Inc. Class A (a) | | 527,700 | 4,701,807 |
| | | | 225,028,358 |
| Media - 0.6% | | | |
| Altice U.S.A., Inc. Class A (a) | | 172,900 | 565,383 |
| Comcast Corp. Class A | | 232,100 | 10,291,314 |
| DISH Network Corp. Class A (a) | | 18,000 | 105,480 |
| Liberty Broadband Corp.: | | | |
| Class A (a) | | 69,100 | 6,281,881 |
| Class C (a) | | 56,700 | 5,177,844 |
| S4 Capital PLC (a) | | 176,500 | 145,575 |
| TechTarget, Inc. (a) | | 6,000 | 182,160 |
| | | | 22,749,637 |
| Wireless Telecommunication Services - 0.3% | | | |
| T-Mobile U.S., Inc. | | 99,200 | 13,892,960 |
TOTAL COMMUNICATION SERVICES | | | 330,524,137 |
| CONSUMER DISCRETIONARY - 10.6% | | | |
| Automobile Components - 0.1% | | | |
| Adient PLC (a) | | 70,350 | 2,581,845 |
| Aptiv PLC (a) | | 33,800 | 3,332,342 |
| | | | 5,914,187 |
| Automobiles - 1.5% | | | |
| Ferrari NV | | 10,300 | 3,044,062 |
| Tesla, Inc. (a) | | 221,663 | 55,464,516 |
| | | | 58,508,578 |
| Broadline Retail - 3.6% | | | |
| Amazon.com, Inc. (a) | | 1,020,636 | 129,743,248 |
| eBay, Inc. | | 191,739 | 8,453,773 |
| Ollie's Bargain Outlet Holdings, Inc. (a) | | 58,900 | 4,545,902 |
| | | | 142,742,923 |
| Hotels, Restaurants & Leisure - 2.3% | | | |
| ARAMARK Holdings Corp. | | 158,400 | 5,496,480 |
| Booking Holdings, Inc. (a) | | 5,962 | 18,386,510 |
| Caesars Entertainment, Inc. (a) | | 105,300 | 4,880,655 |
| Churchill Downs, Inc. | | 70,830 | 8,219,113 |
| Domino's Pizza, Inc. | | 20,754 | 7,861,408 |
| Hilton Worldwide Holdings, Inc. | | 72,178 | 10,839,692 |
| Marriott International, Inc. Class A | | 65,695 | 12,913,009 |
| McDonald's Corp. | | 28,580 | 7,529,115 |
| Penn Entertainment, Inc. (a) | | 73,900 | 1,696,005 |
| Planet Fitness, Inc. (a) | | 44,900 | 2,208,182 |
| Red Rock Resorts, Inc. | | 57,100 | 2,341,100 |
| Yum! Brands, Inc. | | 83,900 | 10,482,466 |
| | | | 92,853,735 |
| Household Durables - 0.2% | | | |
| D.R. Horton, Inc. | | 33,300 | 3,578,751 |
| Mohawk Industries, Inc. (a) | | 25,483 | 2,186,696 |
| Newell Brands, Inc. | | 22,200 | 200,466 |
| | | | 5,965,913 |
| Specialty Retail - 1.9% | | | |
| Aritzia, Inc. (a) | | 91,600 | 1,593,601 |
| Fast Retailing Co. Ltd. | | 9,900 | 2,156,371 |
| Five Below, Inc. (a) | | 27,872 | 4,484,605 |
| Lowe's Companies, Inc. | | 121,689 | 25,291,842 |
| The Home Depot, Inc. | | 39,224 | 11,851,924 |
| TJX Companies, Inc. | | 312,020 | 27,732,338 |
| Valvoline, Inc. | | 123,219 | 3,972,581 |
| | | | 77,083,262 |
| Textiles, Apparel & Luxury Goods - 1.0% | | | |
| Capri Holdings Ltd. (a) | | 83,168 | 4,375,468 |
| lululemon athletica, Inc. (a) | | 31,600 | 12,185,276 |
| LVMH Moet Hennessy Louis Vuitton SE | | 3,300 | 2,490,941 |
| NIKE, Inc. Class B | | 84,569 | 8,086,488 |
| PVH Corp. | | 94,040 | 7,195,000 |
| Tapestry, Inc. | | 151,997 | 4,369,914 |
| | | | 38,703,087 |
TOTAL CONSUMER DISCRETIONARY | | | 421,771,685 |
| CONSUMER STAPLES - 6.5% | | | |
| Beverages - 2.1% | | | |
| Boston Beer Co., Inc. Class A (a) | | 21,350 | 8,316,466 |
| Brown-Forman Corp. Class B (non-vtg.) | | 2,300 | 132,687 |
| Constellation Brands, Inc. Class A (sub. vtg.) | | 17,685 | 4,444,771 |
| Diageo PLC | | 83,030 | 3,061,160 |
| Duckhorn Portfolio, Inc. (a) | | 37,700 | 386,802 |
| Keurig Dr. Pepper, Inc. | | 546,000 | 17,237,220 |
| Monster Beverage Corp. | | 130,300 | 6,899,385 |
| PepsiCo, Inc. | | 47,700 | 8,082,288 |
| Primo Water Corp. | | 40,000 | 552,000 |
| The Coca-Cola Co. | | 635,700 | 35,586,486 |
| | | | 84,699,265 |
| Consumer Staples Distribution & Retail - 1.2% | | | |
| Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | | 75,600 | 3,839,417 |
| BJ's Wholesale Club Holdings, Inc. (a) | | 55,500 | 3,961,035 |
| Dollar General Corp. | | 41,030 | 4,340,974 |
| Dollar Tree, Inc. (a) | | 18,400 | 1,958,680 |
| Maplebear, Inc. | | 5,600 | 166,264 |
| Performance Food Group Co. (a) | | 142,846 | 8,407,916 |
| Sysco Corp. | | 32,400 | 2,140,020 |
| Target Corp. | | 52,835 | 5,841,966 |
| U.S. Foods Holding Corp. (a) | | 21,600 | 857,520 |
| United Natural Foods, Inc. (a) | | 900 | 12,726 |
| Walgreens Boots Alliance, Inc. | | 9,500 | 211,280 |
| Walmart, Inc. | | 92,100 | 14,729,553 |
| | | | 46,467,351 |
| Food Products - 0.7% | | | |
| Archer Daniels Midland Co. | | 26,199 | 1,975,929 |
| Bunge Ltd. | | 15,850 | 1,715,763 |
| Conagra Brands, Inc. | | 49,400 | 1,354,548 |
| Darling Ingredients, Inc. (a) | | 25,497 | 1,330,943 |
| Freshpet, Inc. (a) | | 11,900 | 783,972 |
| General Mills, Inc. | | 23,600 | 1,510,164 |
| Laird Superfood, Inc. (a) | | 35,100 | 36,153 |
| Lamb Weston Holdings, Inc. | | 4,400 | 406,824 |
| Mondelez International, Inc. | | 166,200 | 11,534,280 |
| Nomad Foods Ltd. (a) | | 267,582 | 4,072,598 |
| Pilgrim's Pride Corp. (a) | | 2,300 | 52,509 |
| The Hain Celestial Group, Inc. (a) | | 9,600 | 99,552 |
| The Hershey Co. | | 1,000 | 200,080 |
| The J.M. Smucker Co. | | 2,300 | 282,693 |
| The Simply Good Foods Co. (a) | | 23,804 | 821,714 |
| TreeHouse Foods, Inc. (a) | | 15,326 | 667,907 |
| Tyson Foods, Inc. Class A | | 63,700 | 3,216,213 |
| | | | 30,061,842 |
| Household Products - 1.4% | | | |
| Colgate-Palmolive Co. | | 56,200 | 3,996,382 |
| Energizer Holdings, Inc. | | 186,700 | 5,981,868 |
| Kimberly-Clark Corp. | | 55,200 | 6,670,920 |
| Procter & Gamble Co. | | 243,700 | 35,546,082 |
| Reynolds Consumer Products, Inc. | | 97,548 | 2,500,155 |
| | | | 54,695,407 |
| Personal Care Products - 0.5% | | | |
| Edgewell Personal Care Co. | | 5,600 | 206,976 |
| Estee Lauder Companies, Inc. Class A | | 49,300 | 7,126,315 |
| Herbalife Ltd. (a) | | 97,300 | 1,361,227 |
| Kenvue, Inc. | | 389,300 | 7,817,144 |
| Olaplex Holdings, Inc. (a) | | 599,800 | 1,169,610 |
| The Beauty Health Co. (a)(b) | | 149,304 | 898,810 |
| | | | 18,580,082 |
| Tobacco - 0.6% | | | |
| Altria Group, Inc. | | 248,500 | 10,449,425 |
| British American Tobacco PLC (United Kingdom) | | 7,700 | 242,103 |
| Philip Morris International, Inc. | | 126,400 | 11,702,112 |
| | | | 22,393,640 |
TOTAL CONSUMER STAPLES | | | 256,897,587 |
| ENERGY - 4.8% | | | |
| Energy Equipment & Services - 0.6% | | | |
| Core Laboratories, Inc. (b) | | 21,200 | 509,012 |
| Diamond Offshore Drilling, Inc. (a) | | 45,500 | 667,940 |
| Expro Group Holdings NV (a) | | 219,300 | 5,094,339 |
| Noble Corp. PLC | | 14,500 | 734,425 |
| Schlumberger Ltd. | | 113,100 | 6,593,730 |
| TechnipFMC PLC | | 186,000 | 3,783,240 |
| Valaris Ltd. (a) | | 18,200 | 1,364,636 |
| Weatherford International PLC (a) | | 85,700 | 7,741,281 |
| | | | 26,488,603 |
| Oil, Gas & Consumable Fuels - 4.2% | | | |
| Africa Oil Corp. | | 1,905,100 | 3,829,135 |
| Athabasca Oil Corp. (a) | | 1,206,800 | 3,864,959 |
| Cheniere Energy, Inc. | | 7,900 | 1,311,084 |
| Eco Atlantic Oil & Gas Ltd. (a) | | 1,319,500 | 189,437 |
| Exxon Mobil Corp. | | 671,100 | 78,907,938 |
| Hess Corp. | | 116,300 | 17,793,900 |
| Imperial Oil Ltd. | | 233,200 | 14,363,712 |
| Kosmos Energy Ltd. (a) | | 648,777 | 5,306,996 |
| MEG Energy Corp. (a) | | 580,900 | 11,303,653 |
| PBF Energy, Inc. Class A | | 30,600 | 1,638,018 |
| Phillips 66 Co. | | 71,700 | 8,614,755 |
| Shell PLC ADR | | 93,100 | 5,993,778 |
| Southwestern Energy Co. (a) | | 143,000 | 922,350 |
| Valero Energy Corp. | | 83,900 | 11,889,469 |
| | | | 165,929,184 |
TOTAL ENERGY | | | 192,417,787 |
| FINANCIALS - 12.9% | | | |
| Banks - 4.3% | | | |
| AIB Group PLC | | 364,080 | 1,639,774 |
| Bank of America Corp. | | 655,113 | 17,936,994 |
| Bank of Ireland Group PLC | | 485,700 | 4,770,474 |
| BNP Paribas SA | | 87,744 | 5,579,314 |
| Citigroup, Inc. | | 67,500 | 2,776,275 |
| DNB Bank ASA | | 161,300 | 3,251,138 |
| East West Bancorp, Inc. | | 110,700 | 5,834,997 |
| JPMorgan Chase & Co. | | 462,530 | 67,076,101 |
| KBC Group NV | | 30,600 | 1,913,288 |
| KeyCorp | | 513,500 | 5,525,260 |
| M&T Bank Corp. | | 50,518 | 6,388,001 |
| Piraeus Financial Holdings SA (a) | | 887,300 | 2,636,055 |
| PNC Financial Services Group, Inc. | | 61,800 | 7,587,186 |
| Popular, Inc. | | 110,000 | 6,931,100 |
| Sumitomo Mitsui Financial Group, Inc. | | 41,800 | 2,053,469 |
| Wells Fargo & Co. | | 687,572 | 28,094,192 |
| Zions Bancorp NA | | 26,900 | 938,541 |
| | | | 170,932,159 |
| Capital Markets - 2.3% | | | |
| Bank of New York Mellon Corp. | | 298,837 | 12,745,398 |
| BlackRock, Inc. Class A | | 18,570 | 12,005,319 |
| Brookfield Corp. Class A | | 112,896 | 3,530,258 |
| Cboe Global Markets, Inc. | | 47,379 | 7,401,074 |
| CME Group, Inc. | | 57,800 | 11,572,716 |
| Interactive Brokers Group, Inc. | | 70,200 | 6,076,512 |
| London Stock Exchange Group PLC | | 18,100 | 1,814,089 |
| MarketAxess Holdings, Inc. | | 24,300 | 5,191,452 |
| Morgan Stanley | | 170,700 | 13,941,069 |
| Patria Investments Ltd. | | 238,500 | 3,477,330 |
| State Street Corp. | | 1,430 | 95,753 |
| StepStone Group, Inc. Class A | | 125,223 | 3,954,542 |
| UBS Group AG | | 366,800 | 9,041,620 |
| Virtu Financial, Inc. Class A | | 104,747 | 1,808,981 |
| | | | 92,656,113 |
| Consumer Finance - 0.2% | | | |
| NerdWallet, Inc. (a) | | 63,400 | 563,626 |
| OneMain Holdings, Inc. | | 141,556 | 5,674,980 |
| | | | 6,238,606 |
| Financial Services - 3.0% | | | |
| Apollo Global Management, Inc. | | 139,987 | 12,565,233 |
| Block, Inc. Class A (a) | | 246,800 | 10,923,368 |
| Essent Group Ltd. | | 138,500 | 6,549,665 |
| Fiserv, Inc. (a) | | 133,800 | 15,114,048 |
| Global Payments, Inc. | | 86,900 | 10,027,391 |
| MGIC Investment Corp. | | 193,471 | 3,229,031 |
| Repay Holdings Corp. (a) | | 256,038 | 1,943,328 |
| Shift4 Payments, Inc. (a) | | 59,754 | 3,308,579 |
| UWM Holdings Corp. Class A (b) | | 412,174 | 1,999,044 |
| Visa, Inc. Class A | | 221,300 | 50,901,213 |
| Voya Financial, Inc. | | 36,800 | 2,445,360 |
| Worldline SA (a)(c) | | 72,053 | 2,030,145 |
| | | | 121,036,405 |
| Insurance - 3.1% | | | |
| Arthur J. Gallagher & Co. | | 63,996 | 14,586,608 |
| Beazley PLC | | 641,344 | 4,331,159 |
| Chubb Ltd. | | 81,208 | 16,905,881 |
| Direct Line Insurance Group PLC | | 1,555,215 | 3,267,526 |
| Fairfax Financial Holdings Ltd. (sub. vtg.) | | 7,326 | 5,980,378 |
| Globe Life, Inc. | | 42,563 | 4,627,875 |
| Hartford Financial Services Group, Inc. | | 154,128 | 10,929,216 |
| Marsh & McLennan Companies, Inc. | | 85,404 | 16,252,381 |
| Progressive Corp. | | 102,224 | 14,239,803 |
| Prudential PLC | | 195,671 | 2,103,334 |
| Reinsurance Group of America, Inc. | | 38,500 | 5,589,815 |
| The Travelers Companies, Inc. | | 82,360 | 13,450,212 |
| Unum Group | | 194,312 | 9,558,207 |
| | | | 121,822,395 |
TOTAL FINANCIALS | | | 512,685,678 |
| HEALTH CARE - 12.7% | | | |
| Biotechnology - 2.2% | | | |
| Acelyrin, Inc. (b) | | 75,000 | 762,750 |
| Akero Therapeutics, Inc. (a) | | 72,000 | 3,641,760 |
| Allogene Therapeutics, Inc. (a) | | 275,000 | 871,750 |
| Alnylam Pharmaceuticals, Inc. (a) | | 8,400 | 1,487,640 |
| Ambrx Biopharma, Inc. ADR (a) | | 50,000 | 575,000 |
| Arcellx, Inc. (a) | | 32,000 | 1,148,160 |
| Arcus Biosciences, Inc. (a) | | 45,000 | 807,750 |
| Arcutis Biotherapeutics, Inc. (a) | | 73,500 | 390,285 |
| Argenx SE ADR (a) | | 26,700 | 13,126,521 |
| Ascendis Pharma A/S sponsored ADR (a) | | 60,000 | 5,618,400 |
| Avidity Biosciences, Inc. (a) | | 100,000 | 638,000 |
| Blueprint Medicines Corp. (a) | | 48,000 | 2,410,560 |
| Celldex Therapeutics, Inc. (a) | | 50,000 | 1,376,000 |
| Cerevel Therapeutics Holdings (a) | | 110,000 | 2,401,300 |
| Cytokinetics, Inc. (a) | | 100,000 | 2,946,000 |
| Generation Bio Co. (a) | | 60,400 | 228,916 |
| Janux Therapeutics, Inc. (a) | | 45,000 | 453,600 |
| Karuna Therapeutics, Inc. (a) | | 19,000 | 3,212,710 |
| Keros Therapeutics, Inc. (a) | | 35,000 | 1,115,800 |
| Legend Biotech Corp. ADR (a) | | 112,000 | 7,523,040 |
| Morphic Holding, Inc. (a) | | 28,000 | 641,480 |
| Nuvalent, Inc. Class A (a) | | 50,000 | 2,298,500 |
| Poseida Therapeutics, Inc. (a) | | 230,000 | 547,400 |
| PTC Therapeutics, Inc. (a) | | 5,198 | 116,487 |
| Regeneron Pharmaceuticals, Inc. (a) | | 21,800 | 17,940,528 |
| Repligen Corp. (a) | | 18,500 | 2,941,685 |
| Sarepta Therapeutics, Inc. (a) | | 16,000 | 1,939,520 |
| Shattuck Labs, Inc. (a) | | 5,000 | 7,600 |
| Vaxcyte, Inc. (a) | | 100,000 | 5,098,000 |
| Vera Therapeutics, Inc. (a) | | 75,000 | 1,028,250 |
| Vertex Pharmaceuticals, Inc. (a) | | 3,200 | 1,112,768 |
| Xencor, Inc. (a) | | 90,000 | 1,813,500 |
| Xenon Pharmaceuticals, Inc. (a) | | 50,000 | 1,708,000 |
| Zentalis Pharmaceuticals, Inc. (a) | | 65,000 | 1,303,900 |
| | | | 89,233,560 |
| Health Care Equipment & Supplies - 2.4% | | | |
| Boston Scientific Corp. (a) | | 800,000 | 42,240,000 |
| Edwards Lifesciences Corp. (a) | | 28,000 | 1,939,840 |
| Glaukos Corp. (a) | | 50,000 | 3,762,500 |
| ICU Medical, Inc. (a) | | 12,500 | 1,487,625 |
| Inspire Medical Systems, Inc. (a) | | 21,000 | 4,167,240 |
| Insulet Corp. (a) | | 45,000 | 7,177,050 |
| Intuitive Surgical, Inc. (a) | | 8,500 | 2,484,465 |
| iRhythm Technologies, Inc. (a) | | 12,800 | 1,206,528 |
| Lantheus Holdings, Inc. (a) | | 16,000 | 1,111,680 |
| Masimo Corp. (a) | | 67,000 | 5,874,560 |
| Outset Medical, Inc. (a) | | 67,000 | 728,960 |
| Penumbra, Inc. (a) | | 72,500 | 17,538,475 |
| PROCEPT BioRobotics Corp. (a) | | 46,000 | 1,509,260 |
| Stryker Corp. | | 20,800 | 5,684,016 |
| Tandem Diabetes Care, Inc. (a) | | 18,000 | 373,860 |
| | | | 97,286,059 |
| Health Care Providers & Services - 4.0% | | | |
| Acadia Healthcare Co., Inc. (a) | | 64,000 | 4,499,840 |
| agilon health, Inc. (a) | | 740,000 | 13,142,400 |
| Alignment Healthcare, Inc. (a) | | 260,000 | 1,804,400 |
| Centene Corp. (a) | | 150,000 | 10,332,000 |
| Cigna Group | | 86,000 | 24,602,020 |
| CVS Health Corp. | | 218,000 | 15,220,760 |
| Elevance Health, Inc. | | 12,800 | 5,573,376 |
| Humana, Inc. | | 11,500 | 5,594,980 |
| LifeStance Health Group, Inc. (a) | | 400,000 | 2,748,000 |
| Molina Healthcare, Inc. (a) | | 8,500 | 2,787,065 |
| Privia Health Group, Inc. (a) | | 225,000 | 5,175,000 |
| Surgery Partners, Inc. (a) | | 260,000 | 7,605,000 |
| UnitedHealth Group, Inc. | | 115,400 | 58,183,526 |
| | | | 157,268,367 |
| Health Care Technology - 0.2% | | | |
| Evolent Health, Inc. (a) | | 18,500 | 503,755 |
| Evolent Health, Inc. (d) | | 120,000 | 3,104,220 |
| Phreesia, Inc. (a) | | 80,000 | 1,494,400 |
| Veeva Systems, Inc. Class A (a) | | 15,000 | 3,051,750 |
| | | | 8,154,125 |
| Life Sciences Tools & Services - 2.2% | | | |
| 10X Genomics, Inc. (a) | | 157,230 | 6,485,738 |
| Bruker Corp. | | 72,000 | 4,485,600 |
| Danaher Corp. | | 139,500 | 34,609,950 |
| Fortrea Holdings, Inc. | | 14,298 | 408,780 |
| IQVIA Holdings, Inc. (a) | | 36,500 | 7,181,375 |
| Lonza Group AG | | 4,500 | 2,081,462 |
| Olink Holding AB ADR (a) | | 82,600 | 1,218,350 |
| Thermo Fisher Scientific, Inc. | | 50,500 | 25,561,585 |
| West Pharmaceutical Services, Inc. | | 12,000 | 4,502,520 |
| | | | 86,535,360 |
| Pharmaceuticals - 1.7% | | | |
| Arvinas Holding Co. LLC (a) | | 45,000 | 883,800 |
| AstraZeneca PLC (United Kingdom) | | 76,500 | 10,318,664 |
| Eli Lilly & Co. | | 59,500 | 31,959,235 |
| Enliven Therapeutics, Inc. (a) | | 28,000 | 382,480 |
| Merck & Co., Inc. | | 86,000 | 8,853,700 |
| Novo Nordisk A/S Series B | | 18,000 | 1,638,923 |
| Pharvaris BV (a) | | 60,000 | 1,252,200 |
| Royalty Pharma PLC | | 128,000 | 3,473,920 |
| Structure Therapeutics, Inc. (d) | | 33,186 | 414,493 |
| Structure Therapeutics, Inc. ADR | | 17,200 | 867,224 |
| UCB SA | | 36,500 | 2,992,240 |
| Ventyx Biosciences, Inc. (a) | | 56,000 | 1,944,880 |
| Verona Pharma PLC ADR (a) | | 40,000 | 652,000 |
| | | | 65,633,759 |
TOTAL HEALTH CARE | | | 504,111,230 |
| INDUSTRIALS - 10.1% | | | |
| Aerospace & Defense - 1.8% | | | |
| Axon Enterprise, Inc. (a) | | 17,600 | 3,502,224 |
| HEICO Corp. Class A | | 39,000 | 5,039,580 |
| Howmet Aerospace, Inc. | | 209,000 | 9,666,250 |
| L3Harris Technologies, Inc. | | 44,600 | 7,765,752 |
| Lockheed Martin Corp. | | 26,000 | 10,632,960 |
| Northrop Grumman Corp. | | 15,400 | 6,778,926 |
| The Boeing Co. (a) | | 121,000 | 23,193,280 |
| TransDigm Group, Inc. (a) | | 8,300 | 6,997,979 |
| | | | 73,576,951 |
| Air Freight & Logistics - 0.4% | | | |
| FedEx Corp. | | 54,000 | 14,305,680 |
| Building Products - 0.8% | | | |
| Carlisle Companies, Inc. | | 41,900 | 10,862,994 |
| Trane Technologies PLC | | 97,400 | 19,763,434 |
| | | | 30,626,428 |
| Commercial Services & Supplies - 0.7% | | | |
| Cintas Corp. | | 31,300 | 15,055,613 |
| Waste Connections, Inc. (United States) | | 94,900 | 12,745,070 |
| | | | 27,800,683 |
| Construction & Engineering - 0.5% | | | |
| EMCOR Group, Inc. | | 13,700 | 2,882,343 |
| Willscot Mobile Mini Holdings (a) | | 378,500 | 15,741,815 |
| | | | 18,624,158 |
| Electrical Equipment - 1.2% | | | |
| AMETEK, Inc. | | 176,900 | 26,138,744 |
| Eaton Corp. PLC | | 56,300 | 12,007,664 |
| Nextracker, Inc. Class A | | 16,800 | 674,688 |
| Regal Rexnord Corp. | | 38,200 | 5,458,016 |
| Vertiv Holdings Co. | | 56,400 | 2,098,080 |
| | | | 46,377,192 |
| Ground Transportation - 1.4% | | | |
| CSX Corp. | | 406,700 | 12,506,025 |
| Landstar System, Inc. | | 24,400 | 4,317,336 |
| Old Dominion Freight Lines, Inc. | | 19,600 | 8,019,144 |
| Uber Technologies, Inc. (a) | | 381,000 | 17,522,190 |
| Union Pacific Corp. | | 66,700 | 13,582,121 |
| | | | 55,946,816 |
| Machinery - 2.8% | | | |
| AGCO Corp. | | 74,600 | 8,823,688 |
| Caterpillar, Inc. | | 105,200 | 28,719,600 |
| Chart Industries, Inc. (a) | | 26,400 | 4,464,768 |
| Flowserve Corp. | | 308,900 | 12,284,953 |
| Fortive Corp. | | 336,900 | 24,984,504 |
| Graco, Inc. | | 71,200 | 5,189,056 |
| IDEX Corp. | | 19,800 | 4,118,796 |
| ITT, Inc. | | 66,700 | 6,530,597 |
| Parker Hannifin Corp. | | 28,500 | 11,101,320 |
| Snap-On, Inc. | | 21,300 | 5,432,778 |
| | | | 111,650,060 |
| Marine Transportation - 0.0% | | | |
| Eagle Bulk Shipping, Inc. (b) | | 30,200 | 1,269,306 |
| Genco Shipping & Trading Ltd. (b) | | 63,900 | 893,961 |
| | | | 2,163,267 |
| Passenger Airlines - 0.1% | | | |
| Delta Air Lines, Inc. | | 108,500 | 4,014,500 |
| Professional Services - 0.3% | | | |
| Ceridian HCM Holding, Inc. (a) | | 64,100 | 4,349,185 |
| ExlService Holdings, Inc. (a) | | 94,462 | 2,648,714 |
| TransUnion Holding Co., Inc. | | 55,500 | 3,984,345 |
| | | | 10,982,244 |
| Trading Companies & Distributors - 0.1% | | | |
| Air Lease Corp. Class A | | 31,400 | 1,237,474 |
| W.W. Grainger, Inc. | | 4,200 | 2,905,728 |
| | | | 4,143,202 |
TOTAL INDUSTRIALS | | | 400,211,181 |
| INFORMATION TECHNOLOGY - 24.8% | | | |
| Electronic Equipment, Instruments & Components - 0.4% | | | |
| Cognex Corp. | | 49,500 | 2,100,780 |
| Corning, Inc. | | 235,200 | 7,166,544 |
| TE Connectivity Ltd. | | 55,200 | 6,818,856 |
| | | | 16,086,180 |
| IT Services - 2.0% | | | |
| Akamai Technologies, Inc. (a) | | 27,000 | 2,876,580 |
| Capgemini SA | | 75,200 | 13,121,933 |
| Cognizant Technology Solutions Corp. Class A | | 189,100 | 12,809,634 |
| EPAM Systems, Inc. (a) | | 27,100 | 6,929,199 |
| GoDaddy, Inc. (a) | | 67,500 | 5,027,400 |
| MongoDB, Inc. Class A (a) | | 30,800 | 10,652,488 |
| Okta, Inc. (a) | | 15,600 | 1,271,556 |
| Shopify, Inc. Class A (a) | | 98,100 | 5,353,317 |
| Snowflake, Inc. (a) | | 75,400 | 11,518,858 |
| Twilio, Inc. Class A (a) | | 148,400 | 8,685,852 |
| Wix.com Ltd. (a) | | 18,600 | 1,707,480 |
| | | | 79,954,297 |
| Semiconductors & Semiconductor Equipment - 4.4% | | | |
| Advanced Micro Devices, Inc. (a) | | 87,910 | 9,038,906 |
| Analog Devices, Inc. | | 196,900 | 34,475,221 |
| Intel Corp. | | 255,700 | 9,090,135 |
| Marvell Technology, Inc. | | 87,200 | 4,720,136 |
| Microchip Technology, Inc. | | 102,800 | 8,023,540 |
| Micron Technology, Inc. | | 376,300 | 25,599,689 |
| NVIDIA Corp. | | 157,000 | 68,293,430 |
| ON Semiconductor Corp. (a) | | 44,200 | 4,108,390 |
| Skyworks Solutions, Inc. | | 35,900 | 3,539,381 |
| SolarEdge Technologies, Inc. (a) | | 67,700 | 8,767,827 |
| | | | 175,656,655 |
| Software - 12.6% | | | |
| Adobe, Inc. (a) | | 104,200 | 53,131,580 |
| Atlassian Corp. PLC (a) | | 54,100 | 10,901,691 |
| Autodesk, Inc. (a) | | 84,600 | 17,504,586 |
| Blackbaud, Inc. (a) | | 50,900 | 3,579,288 |
| BlackLine, Inc. (a) | | 17,900 | 992,913 |
| Constellation Software, Inc. | | 2,600 | 5,367,629 |
| Constellation Software, Inc. warrants 8/22/28 (a)(e) | | 2,600 | 0 |
| Datadog, Inc. Class A (a) | | 51,600 | 4,700,244 |
| Elastic NV (a) | | 98,100 | 7,969,644 |
| Five9, Inc. (a) | | 130,430 | 8,386,649 |
| Gen Digital, Inc. | | 369,542 | 6,533,503 |
| HubSpot, Inc. (a) | | 24,500 | 12,066,250 |
| Klaviyo, Inc. Class A (b) | | 9,600 | 331,200 |
| Microsoft Corp. | | 843,300 | 266,271,973 |
| New Relic, Inc. (a) | | 17,000 | 1,455,540 |
| Palo Alto Networks, Inc. (a) | | 54,100 | 12,683,204 |
| PTC, Inc. (a) | | 71,200 | 10,087,616 |
| Salesforce, Inc. (a) | | 235,100 | 47,673,578 |
| Tenable Holdings, Inc. (a) | | 213,600 | 9,569,280 |
| Workday, Inc. Class A (a) | | 77,900 | 16,736,815 |
| Workiva, Inc. (a) | | 53,300 | 5,401,422 |
| | | | 501,344,605 |
| Technology Hardware, Storage & Peripherals - 5.4% | | | |
| Apple, Inc. | | 1,245,700 | 213,276,297 |
| Western Digital Corp. (a) | | 46,500 | 2,121,795 |
| | | | 215,398,092 |
TOTAL INFORMATION TECHNOLOGY | | | 988,439,829 |
| MATERIALS - 2.7% | | | |
| Chemicals - 1.8% | | | |
| Air Products & Chemicals, Inc. | | 18,300 | 5,186,220 |
| Ashland, Inc. | | 17,400 | 1,421,232 |
| Cabot Corp. | | 40,200 | 2,784,654 |
| Celanese Corp. Class A | | 42,000 | 5,271,840 |
| Chemtrade Logistics Income Fund | | 219,200 | 1,303,984 |
| Corteva, Inc. | | 89,700 | 4,589,052 |
| Dow, Inc. | | 21,900 | 1,129,164 |
| DuPont de Nemours, Inc. | | 61,300 | 4,572,367 |
| Eastman Chemical Co. | | 6,800 | 521,696 |
| Huntsman Corp. | | 28,200 | 688,080 |
| Linde PLC | | 63,000 | 23,458,050 |
| LyondellBasell Industries NV Class A | | 64,300 | 6,089,210 |
| Nutrien Ltd. | | 18,400 | 1,136,309 |
| Olin Corp. | | 44,700 | 2,234,106 |
| Orion SA | | 23,300 | 495,824 |
| RPM International, Inc. | | 5,400 | 511,974 |
| The Chemours Co. LLC | | 116,000 | 3,253,800 |
| Tronox Holdings PLC | | 204,500 | 2,748,480 |
| Westlake Corp. | | 16,600 | 2,069,522 |
| | | | 69,465,564 |
| Construction Materials - 0.1% | | | |
| Martin Marietta Materials, Inc. | | 6,500 | 2,668,120 |
| Vulcan Materials Co. | | 13,700 | 2,767,674 |
| | | | 5,435,794 |
| Containers & Packaging - 0.2% | | | |
| Aptargroup, Inc. | | 26,700 | 3,338,568 |
| Avery Dennison Corp. | | 10,700 | 1,954,569 |
| Crown Holdings, Inc. | | 20,300 | 1,796,144 |
| Greif, Inc. Class A | | 37,600 | 2,512,056 |
| | | | 9,601,337 |
| Metals & Mining - 0.6% | | | |
| Commercial Metals Co. | | 34,400 | 1,699,704 |
| E3 Lithium Ltd. (a)(b) | | 76,300 | 175,828 |
| First Quantum Minerals Ltd. | | 233,900 | 5,526,119 |
| Franco-Nevada Corp. | | 12,300 | 1,642,083 |
| Freeport-McMoRan, Inc. | | 172,900 | 6,447,441 |
| Horizonte Minerals PLC (a) | | 409,400 | 626,884 |
| Ivanhoe Mines Ltd. (a) | | 164,200 | 1,407,170 |
| Major Drilling Group International, Inc. (a) | | 84,000 | 511,452 |
| Reliance Steel & Aluminum Co. | | 10,000 | 2,622,300 |
| Steel Dynamics, Inc. | | 11,400 | 1,222,308 |
| | | | 21,881,289 |
TOTAL MATERIALS | | | 106,383,984 |
| REAL ESTATE - 2.7% | | | |
| Equity Real Estate Investment Trusts (REITs) - 2.5% | | | |
| Alexandria Real Estate Equities, Inc. | | 22,300 | 2,232,230 |
| American Tower Corp. | | 36,900 | 6,068,205 |
| Americold Realty Trust | | 108,000 | 3,284,280 |
| Crown Castle International Corp. | | 85,100 | 7,831,753 |
| CubeSmart | | 159,200 | 6,070,296 |
| Digital Realty Trust, Inc. | | 36,600 | 4,429,332 |
| EastGroup Properties, Inc. | | 9,400 | 1,565,382 |
| Equinix, Inc. | | 11,650 | 8,460,929 |
| Equity Lifestyle Properties, Inc. | | 54,400 | 3,465,824 |
| Essex Property Trust, Inc. | | 19,400 | 4,114,546 |
| Extra Space Storage, Inc. | | 7,600 | 924,008 |
| Four Corners Property Trust, Inc. | | 146,900 | 3,259,711 |
| Invitation Homes, Inc. | | 91,900 | 2,912,311 |
| Lamar Advertising Co. Class A | | 25,200 | 2,103,444 |
| Mid-America Apartment Communities, Inc. | | 37,100 | 4,772,915 |
| Outfront Media, Inc. | | 69,000 | 696,900 |
| Prologis (REIT), Inc. | | 107,965 | 12,114,753 |
| Ryman Hospitality Properties, Inc. | | 34,300 | 2,856,504 |
| SITE Centers Corp. | | 205,100 | 2,528,883 |
| Spirit Realty Capital, Inc. | | 52,400 | 1,756,972 |
| Tanger Factory Outlet Centers, Inc. | | 71,100 | 1,606,860 |
| Terreno Realty Corp. | | 29,100 | 1,652,880 |
| UDR, Inc. | | 60,300 | 2,150,901 |
| Urban Edge Properties | | 152,700 | 2,330,202 |
| Ventas, Inc. | | 143,000 | 6,024,590 |
| VICI Properties, Inc. | | 21,500 | 625,650 |
| Welltower, Inc. | | 51,700 | 4,235,264 |
| | | | 100,075,525 |
| Real Estate Management & Development - 0.2% | | | |
| CBRE Group, Inc. (a) | | 56,500 | 4,173,090 |
| CoStar Group, Inc. (a) | | 18,200 | 1,399,398 |
| Doma Holdings, Inc. Class A (a)(b) | | 44,408 | 225,593 |
| Jones Lang LaSalle, Inc. (a) | | 10,300 | 1,454,154 |
| Zillow Group, Inc. Class C (a) | | 36,400 | 1,680,224 |
| | | | 8,932,459 |
TOTAL REAL ESTATE | | | 109,007,984 |
| UTILITIES - 2.3% | | | |
| Electric Utilities - 1.5% | | | |
| Constellation Energy Corp. | | 63,173 | 6,890,911 |
| Duke Energy Corp. | | 29,100 | 2,568,366 |
| Edison International | | 74,800 | 4,734,092 |
| Entergy Corp. | | 29,700 | 2,747,250 |
| FirstEnergy Corp. | | 89,400 | 3,055,692 |
| Fortum Corp. | | 19,300 | 224,352 |
| NextEra Energy, Inc. | | 206,165 | 11,811,193 |
| NRG Energy, Inc. | | 60,700 | 2,338,164 |
| PG&E Corp. (a) | | 510,457 | 8,233,671 |
| Pinnacle West Capital Corp. | | 24,300 | 1,790,424 |
| PPL Corp. | | 127,100 | 2,994,476 |
| Southern Co. | | 212,300 | 13,740,056 |
| | | | 61,128,647 |
| Independent Power and Renewable Electricity Producers - 0.2% | | | |
| Clearway Energy, Inc. Class A | | 11,800 | 235,056 |
| Energy Harbor Corp. (a) | | 18,700 | 1,496,000 |
| NextEra Energy Partners LP | | 27,800 | 825,660 |
| Sunnova Energy International, Inc. (a)(b) | | 18,900 | 197,883 |
| The AES Corp. | | 143,600 | 2,182,720 |
| Vistra Corp. | | 98,400 | 3,264,912 |
| | | | 8,202,231 |
| Multi-Utilities - 0.5% | | | |
| Dominion Energy, Inc. | | 41,700 | 1,862,739 |
| DTE Energy Co. | | 25,200 | 2,501,856 |
| NiSource, Inc. | | 116,300 | 2,870,284 |
| Public Service Enterprise Group, Inc. | | 63,700 | 3,625,167 |
| Sempra | | 107,800 | 7,333,634 |
| | | | 18,193,680 |
| Water Utilities - 0.1% | | | |
| American Water Works Co., Inc. | | 18,400 | 2,278,472 |
TOTAL UTILITIES | | | 89,803,030 |
| TOTAL COMMON STOCKS (Cost $3,967,929,160) | | | 3,912,254,112 |
| | | | |
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. Convertible Bonds and 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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