UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-02652
Name of Registrant: | Vanguard Index Funds |
Address of Registrant: | P.O. Box 2600 |
Valley Forge, PA 19482 |
Name and address of agent for service: | Anne E. Robinson, Esquire |
P.O. Box 876 | |
Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: December 31
Date of reporting period: January 1, 2022—June 30, 2022
Item 1: Reports to Shareholders
About Your Fund’s Expenses | 1 |
Financial Statements | 4 |
Trustees Approve Advisory Arrangement | 26 |
Liquidity Risk Management | 28 |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended June 30, 2022 | |||
Beginning Account Value 12/31/2021 | Ending Account Value 6/30/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
500 Index Fund | |||
Investor Shares | $1,000.00 | $799.80 | $0.62 |
ETF Shares | 1,000.00 | 800.20 | 0.13 |
Admiral™ Shares | 1,000.00 | 800.20 | 0.18 |
Institutional Select Shares | 1,000.00 | 800.30 | 0.04 |
Based on Hypothetical 5% Yearly Return | |||
500 Index Fund | |||
Investor Shares | $1,000.00 | $1,024.10 | $0.70 |
ETF Shares | 1,000.00 | 1,024.65 | 0.15 |
Admiral Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Select Shares | 1,000.00 | 1,024.75 | 0.05 |
Communication Services | 8.9% |
Consumer Discretionary | 10.5 |
Consumer Staples | 7.0 |
Energy | 4.4 |
Financials | 10.8 |
Health Care | 15.2 |
Industrials | 7.8 |
Information Technology | 26.8 |
Materials | 2.6 |
Real Estate | 2.9 |
Utilities | 3.1 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Communication Services (8.8%) | |||
* | Alphabet Inc. Class A | 6,648,005 | 14,487,731 |
* | Alphabet Inc. Class C | 6,113,086 | 13,372,070 |
* | Meta Platforms Inc. Class A | 50,764,605 | 8,185,793 |
Verizon Communications Inc. | 92,953,019 | 4,717,366 | |
Comcast Corp. Class A | 98,948,945 | 3,882,757 | |
* | Walt Disney Co. | 40,315,922 | 3,805,823 |
AT&T Inc. | 158,457,180 | 3,321,262 | |
* | T-Mobile US Inc. | 13,041,441 | 1,754,595 |
* | Netflix Inc. | 9,733,972 | 1,702,180 |
Activision Blizzard Inc. | 17,307,676 | 1,347,576 | |
* | Charter Communications Inc. Class A | 2,563,445 | 1,201,051 |
Electronic Arts Inc. | 6,223,542 | 757,094 | |
* | Warner Bros Discovery Inc. | 48,881,865 | 655,995 |
* | Twitter Inc. | 16,882,786 | 631,247 |
* | Match Group Inc. | 6,318,747 | 440,353 |
* | Take-Two Interactive Software Inc. | 3,498,167 | 428,630 |
Paramount Global Inc. Class B | 13,467,176 | 332,370 | |
Omnicom Group Inc. | 4,555,853 | 289,798 | |
* | Live Nation Entertainment Inc. | 3,032,495 | 250,423 |
Interpublic Group of Cos. Inc. | 8,720,458 | 240,074 | |
Lumen Technologies Inc. | 20,587,806 | 224,613 | |
Fox Corp. Class A | 6,670,955 | 214,538 | |
News Corp. Class A | 11,296,965 | 176,007 | |
Fox Corp. Class B | 3,456,326 | 102,653 | |
* | DISH Network Corp. Class A | 5,547,215 | 99,462 |
62,621,461 | |||
Consumer Discretionary (10.5%) | |||
* | Amazon.com Inc. | 193,671,200 | 20,569,818 |
* | Tesla Inc. | 18,574,050 | 12,508,137 |
Home Depot Inc. | 22,872,501 | 6,273,241 | |
McDonald's Corp. | 16,368,838 | 4,041,139 | |
NIKE Inc. Class B | 28,082,167 | 2,869,997 | |
Lowe's Cos. Inc. | 14,633,648 | 2,556,059 | |
Starbucks Corp. | 25,386,028 | 1,939,239 |
Shares | Market Value• ($000) | ||
* | Booking Holdings Inc. | 899,222 | 1,572,730 |
TJX Cos. Inc. | 25,996,445 | 1,451,901 | |
Target Corp. | 10,233,767 | 1,445,315 | |
Dollar General Corp. | 5,064,241 | 1,242,967 | |
* | General Motors Co. | 32,272,496 | 1,024,974 |
Ford Motor Co. | 87,408,082 | 972,852 | |
* | AutoZone Inc. | 439,287 | 944,081 |
* | O'Reilly Automotive Inc. | 1,454,882 | 919,136 |
Marriott International Inc. Class A | 6,084,574 | 827,563 | |
* | Chipotle Mexican Grill Inc. Class A | 618,905 | 809,070 |
* | Dollar Tree Inc. | 4,983,547 | 776,686 |
Yum! Brands Inc. | 6,311,582 | 716,428 | |
Hilton Worldwide Holdings Inc. | 6,160,417 | 686,517 | |
Ross Stores Inc. | 7,778,841 | 546,308 | |
* | Aptiv plc | 5,997,199 | 534,171 |
eBay Inc. | 12,387,208 | 516,175 | |
Tractor Supply Co. | 2,475,720 | 479,918 | |
DR Horton Inc. | 7,088,695 | 469,201 | |
* | Ulta Beauty Inc. | 1,155,716 | 445,505 |
Genuine Parts Co. | 3,134,403 | 416,876 | |
Lennar Corp. Class A | 5,660,383 | 399,453 | |
Garmin Ltd. | 3,376,909 | 331,781 | |
* | CarMax Inc. | 3,553,417 | 321,513 |
* | Expedia Group Inc. | 3,354,667 | 318,123 |
VF Corp. | 7,143,167 | 315,514 | |
Darden Restaurants Inc. | 2,760,899 | 312,313 | |
Pool Corp. | 887,107 | 311,579 | |
Domino's Pizza Inc. | 797,843 | 310,927 | |
Best Buy Co. Inc. | 4,481,540 | 292,152 | |
LKQ Corp. | 5,760,396 | 282,778 | |
* | NVR Inc. | 68,443 | 274,055 |
* | Las Vegas Sands Corp. | 7,612,801 | 255,714 |
Hasbro Inc. | 2,901,996 | 237,615 | |
Advance Auto Parts Inc. | 1,352,603 | 234,122 | |
MGM Resorts International | 7,828,907 | 226,647 | |
PulteGroup Inc. | 5,254,771 | 208,247 | |
* | Etsy Inc. | 2,814,721 | 206,066 |
Whirlpool Corp. | 1,244,484 | 192,733 | |
* | Caesars Entertainment Inc. | 4,747,210 | 181,818 |
BorgWarner Inc. (XNYS) | 5,301,342 | 176,906 |
Shares | Market Value• ($000) | ||
* | Royal Caribbean Cruises Ltd. | 4,968,348 | 173,445 |
Tapestry Inc. | 5,577,114 | 170,214 | |
Newell Brands Inc. | 8,153,143 | 155,236 | |
*,1 | Carnival Corp. | 17,945,332 | 155,227 |
Bath & Body Works Inc. | 5,273,790 | 141,970 | |
* | Mohawk Industries Inc. | 1,138,086 | 141,225 |
* | Wynn Resorts Ltd. | 2,333,546 | 132,965 |
* | Penn National Gaming Inc. | 3,615,204 | 109,975 |
*,1 | Norwegian Cruise Line Holdings Ltd. | 9,267,368 | 103,053 |
Ralph Lauren Corp. Class A | 1,025,968 | 91,978 | |
PVH Corp. | 1,492,957 | 84,949 | |
Lennar Corp. Class B | 77,011 | 4,521 | |
74,410,818 | |||
Consumer Staples (6.9%) | |||
Procter & Gamble Co. | 53,105,424 | 7,636,029 | |
Coca-Cola Co. | 86,355,867 | 5,432,648 | |
PepsiCo Inc. | 30,604,179 | 5,100,492 | |
Costco Wholesale Corp. | 9,810,313 | 4,701,887 | |
Walmart Inc. | 31,074,191 | 3,778,000 | |
Philip Morris International Inc. | 34,310,080 | 3,387,777 | |
Mondelez International Inc. Class A | 30,631,700 | 1,901,922 | |
Altria Group Inc. | 40,075,796 | 1,673,966 | |
Colgate-Palmolive Co. | 18,548,361 | 1,486,466 | |
Estee Lauder Cos. Inc. Class A | 5,130,216 | 1,306,512 | |
Kimberly-Clark Corp. | 7,458,502 | 1,008,017 | |
General Mills Inc. | 13,330,184 | 1,005,762 | |
Archer-Daniels-Midland Co. | 12,455,324 | 966,533 | |
Sysco Corp. | 11,277,205 | 955,292 | |
Constellation Brands Inc. Class A | 3,602,017 | 839,486 | |
* | Monster Beverage Corp. | 8,322,930 | 771,536 |
Hershey Co. | 3,231,085 | 695,200 | |
Kroger Co. | 13,519,225 | 639,865 | |
Walgreens Boots Alliance Inc. | 15,868,345 | 601,410 | |
Kraft Heinz Co. | 15,714,083 | 599,335 | |
Keurig Dr Pepper Inc. | 16,331,205 | 577,961 | |
Tyson Foods Inc. Class A | 6,453,059 | 555,350 | |
Church & Dwight Co. Inc. | 5,372,062 | 497,775 | |
McCormick & Co. Inc. | 5,536,601 | 460,922 | |
Kellogg Co. | 5,607,586 | 400,045 | |
Clorox Co. | 2,724,001 | 384,030 | |
Conagra Brands Inc. | 10,621,081 | 363,666 | |
J M Smucker Co. | 2,400,785 | 307,325 | |
Hormel Foods Corp. | 6,273,281 | 297,103 | |
Brown-Forman Corp. Class B | 4,046,150 | 283,878 | |
Lamb Weston Holdings Inc. | 3,198,485 | 228,564 | |
Molson Coors Beverage Co. Class B | 4,168,061 | 227,201 |
Shares | Market Value• ($000) | ||
Campbell Soup Co. | 4,473,683 | 214,960 | |
49,286,915 | |||
Energy (4.3%) | |||
Exxon Mobil Corp. | 93,239,632 | 7,985,042 | |
Chevron Corp. | 43,488,724 | 6,296,297 | |
ConocoPhillips | 28,629,132 | 2,571,182 | |
EOG Resources Inc. | 12,965,003 | 1,431,855 | |
Occidental Petroleum Corp. | 19,707,125 | 1,160,356 | |
Schlumberger NV | 31,282,624 | 1,118,667 | |
Pioneer Natural Resources Co. | 4,980,240 | 1,110,992 | |
Marathon Petroleum Corp. | 11,974,736 | 984,443 | |
Valero Energy Corp. | 9,033,022 | 960,030 | |
Phillips 66 | 10,649,024 | 873,113 | |
Williams Cos. Inc. | 26,962,186 | 841,490 | |
Devon Energy Corp. | 13,583,875 | 748,607 | |
Kinder Morgan Inc. | 43,157,953 | 723,327 | |
Hess Corp. | 6,131,410 | 649,562 | |
Halliburton Co. | 19,962,700 | 626,030 | |
Baker Hughes Co. Class A | 20,701,903 | 597,664 | |
ONEOK Inc. | 9,886,664 | 548,710 | |
Coterra Energy Inc. | 17,839,431 | 460,079 | |
Diamondback Energy Inc. | 3,693,990 | 447,527 | |
Marathon Oil Corp. | 15,660,433 | 352,047 | |
APA Corp. | 7,486,252 | 261,270 | |
30,748,290 | |||
Financials (10.8%) | |||
* | Berkshire Hathaway Inc. Class B | 40,043,829 | 10,932,766 |
JPMorgan Chase & Co. | 65,008,400 | 7,320,596 | |
Bank of America Corp. | 156,931,510 | 4,885,278 | |
Wells Fargo & Co. | 83,877,900 | 3,285,497 | |
S&P Global Inc. | 7,681,151 | 2,589,009 | |
Morgan Stanley | 30,974,956 | 2,355,955 | |
Goldman Sachs Group Inc. | 7,361,983 | 2,186,656 | |
Charles Schwab Corp. | 33,381,612 | 2,109,050 | |
Citigroup Inc. | 42,976,351 | 1,976,482 | |
BlackRock Inc. | 3,152,208 | 1,919,821 | |
American Express Co. | 13,501,320 | 1,871,553 | |
Chubb Ltd. | 9,378,606 | 1,843,646 | |
Marsh & McLennan Cos. Inc. | 11,109,543 | 1,724,757 | |
CME Group Inc. | 7,955,633 | 1,628,518 | |
Progressive Corp. | 12,946,447 | 1,505,283 | |
PNC Financial Services Group Inc. | 9,155,003 | 1,444,385 | |
Truist Financial Corp. | 29,471,228 | 1,397,820 | |
US Bancorp | 29,928,038 | 1,377,288 | |
Aon plc Class A (XNYS) | 4,700,377 | 1,267,598 | |
Intercontinental Exchange Inc. | 12,355,484 | 1,161,910 | |
Moody's Corp. | 3,552,893 | 966,280 | |
MetLife Inc. | 15,298,637 | 960,602 | |
Capital One Financial Corp. | 8,698,568 | 906,304 | |
Travelers Cos. Inc. | 5,311,836 | 898,391 | |
American International Group Inc. | 17,532,154 | 896,419 | |
Prudential Financial Inc. | 8,299,571 | 794,103 |
Shares | Market Value• ($000) | ||
Allstate Corp. | 6,085,499 | 771,215 | |
Arthur J Gallagher & Co. | 4,649,167 | 758,000 | |
MSCI Inc. Class A | 1,795,671 | 740,086 | |
Aflac Inc. | 13,116,194 | 725,719 | |
Bank of New York Mellon Corp. | 16,447,662 | 686,032 | |
M&T Bank Corp. | 3,971,601 | 633,034 | |
Discover Financial Services | 6,219,858 | 588,274 | |
Ameriprise Financial Inc. | 2,432,923 | 578,257 | |
First Republic Bank | 3,972,870 | 572,888 | |
T Rowe Price Group Inc. | 5,031,442 | 571,622 | |
* | SVB Financial Group | 1,302,823 | 514,602 |
Fifth Third Bancorp | 15,190,195 | 510,391 | |
Willis Towers Watson plc | 2,468,214 | 487,201 | |
Hartford Financial Services Group Inc. | 7,281,556 | 476,432 | |
Northern Trust Corp. | 4,610,812 | 444,851 | |
Cincinnati Financial Corp. | 3,302,036 | 392,876 | |
Nasdaq Inc. | 2,551,096 | 389,144 | |
Regions Financial Corp. | 20,681,214 | 387,773 | |
Citizens Financial Group Inc. | 10,856,597 | 387,472 | |
Raymond James Financial Inc. | 4,302,087 | 384,650 | |
Huntington Bancshares Inc. | 31,853,054 | 383,192 | |
State Street Corp. | 6,072,007 | 374,339 | |
KeyCorp. | 20,638,658 | 355,604 | |
Principal Financial Group Inc. | 5,201,187 | 347,387 | |
FactSet Research Systems Inc. | 838,908 | 322,619 | |
W R Berkley Corp. | 4,637,269 | 316,540 | |
Synchrony Financial | 11,098,994 | 306,554 | |
Brown & Brown Inc. | 5,183,772 | 302,421 | |
Cboe Global Markets Inc. | 2,350,501 | 266,053 | |
Loews Corp. | 4,305,249 | 255,129 | |
Everest Re Group Ltd. | 873,240 | 244,752 | |
MarketAxess Holdings Inc. | 835,652 | 213,935 | |
Comerica Inc. | 2,895,707 | 212,487 | |
Assurant Inc. | 1,196,089 | 206,744 | |
Signature Bank | 1,148,147 | 205,760 | |
Globe Life Inc. | 2,006,077 | 195,532 | |
Zions Bancorp NA | 3,351,660 | 170,600 | |
Lincoln National Corp. | 3,574,292 | 167,170 | |
Franklin Resources Inc. | 6,200,178 | 144,526 | |
Invesco Ltd. | 7,446,940 | 120,119 | |
76,317,949 | |||
Health Care (15.1%) | |||
UnitedHealth Group Inc. | 20,765,310 | 10,665,686 | |
Johnson & Johnson | 58,242,858 | 10,338,690 | |
Pfizer Inc. | 124,191,448 | 6,511,358 | |
AbbVie Inc. | 39,112,890 | 5,990,530 | |
Eli Lilly & Co. | 17,455,476 | 5,659,589 | |
Merck & Co. Inc. | 55,972,294 | 5,102,994 | |
Thermo Fisher Scientific Inc. | 8,664,635 | 4,707,323 |
Shares | Market Value• ($000) | ||
Abbott Laboratories | 38,754,656 | 4,210,693 | |
Danaher Corp. | 14,322,926 | 3,631,148 | |
Bristol-Myers Squibb Co. | 47,124,724 | 3,628,604 | |
Amgen Inc. | 11,823,922 | 2,876,760 | |
CVS Health Corp. | 29,024,495 | 2,689,410 | |
Medtronic plc | 29,693,352 | 2,664,978 | |
Elevance Health Inc. | 5,336,198 | 2,575,142 | |
Cigna Corp. | 7,022,590 | 1,850,593 | |
Zoetis Inc. | 10,417,210 | 1,790,614 | |
Gilead Sciences Inc. | 27,763,853 | 1,716,084 | |
* | Vertex Pharmaceuticals Inc. | 5,661,332 | 1,595,307 |
* | Intuitive Surgical Inc. | 7,945,501 | 1,594,741 |
Becton Dickinson and Co. | 6,309,924 | 1,555,586 | |
Stryker Corp. | 7,449,854 | 1,481,999 | |
* | Regeneron Pharmaceuticals Inc. | 2,391,241 | 1,413,534 |
Humana Inc. | 2,799,873 | 1,310,537 | |
* | Edwards Lifesciences Corp. | 13,761,811 | 1,308,611 |
* | Boston Scientific Corp. | 31,642,156 | 1,179,303 |
* | Centene Corp. | 12,946,230 | 1,095,380 |
* | Moderna Inc. | 7,657,439 | 1,093,865 |
McKesson Corp. | 3,217,650 | 1,049,630 | |
* | IQVIA Holdings Inc. | 4,188,940 | 908,958 |
HCA Healthcare Inc. | 5,036,730 | 846,473 | |
Agilent Technologies Inc. | 6,641,722 | 788,837 | |
Baxter International Inc. | 11,143,212 | 715,728 | |
ResMed Inc. | 3,237,699 | 678,719 | |
* | Biogen Inc. | 3,241,485 | 661,068 |
* | IDEXX Laboratories Inc. | 1,859,362 | 652,134 |
* | DexCom Inc. | 8,687,574 | 647,485 |
* | Illumina Inc. | 3,476,940 | 641,009 |
* | Mettler-Toledo International Inc. | 502,137 | 576,840 |
West Pharmaceutical Services Inc. | 1,640,087 | 495,913 | |
Zimmer Biomet Holdings Inc. | 4,639,460 | 487,422 | |
Laboratory Corp. of America Holdings | 2,052,035 | 480,915 | |
AmerisourceBergen Corp. Class A | 3,337,157 | 472,141 | |
STERIS plc | 2,215,550 | 456,736 | |
* | Waters Corp. | 1,332,814 | 441,135 |
* | Catalent Inc. | 3,965,895 | 425,501 |
1 | PerkinElmer Inc. | 2,791,723 | 397,039 |
* | Align Technology Inc. | 1,621,965 | 383,870 |
* | Hologic Inc. | 5,518,933 | 382,462 |
* | Molina Healthcare Inc. | 1,299,279 | 363,291 |
Quest Diagnostics Inc. | 2,597,599 | 345,429 | |
Cooper Cos. Inc. | 1,091,475 | 341,763 | |
* | Incyte Corp. | 4,167,571 | 316,610 |
Cardinal Health Inc. | 6,030,279 | 315,203 | |
Bio-Techne Corp. | 868,326 | 300,997 | |
Viatris Inc. | 26,837,768 | 280,991 | |
Teleflex Inc. | 1,038,329 | 255,273 | |
* | ABIOMED Inc. | 1,008,771 | 249,681 |
Shares | Market Value• ($000) | ||
* | Charles River Laboratories International Inc. | 1,124,810 | 240,676 |
* | Bio-Rad Laboratories Inc. Class A | 479,177 | 237,193 |
* | Henry Schein Inc. | 3,056,230 | 234,535 |
Organon & Co. | 5,609,643 | 189,325 | |
DENTSPLY SIRONA Inc. | 4,764,521 | 170,236 | |
Universal Health Services Inc. Class B | 1,484,691 | 149,523 | |
* | DaVita Inc. | 1,339,240 | 107,086 |
106,926,886 | |||
Industrials (7.8%) | |||
Raytheon Technologies Corp. | 32,916,233 | 3,163,579 | |
United Parcel Service Inc. Class B | 16,255,957 | 2,967,362 | |
Union Pacific Corp. | 13,900,533 | 2,964,706 | |
Honeywell International Inc. | 15,067,105 | 2,618,814 | |
Lockheed Martin Corp. | 5,242,123 | 2,253,903 | |
Caterpillar Inc. | 11,805,778 | 2,110,401 | |
Deere & Co. | 6,179,268 | 1,850,505 | |
* | Boeing Co. | 12,309,901 | 1,683,010 |
3M Co. | 12,595,570 | 1,629,993 | |
General Electric Co. | 24,363,462 | 1,551,222 | |
Northrop Grumman Corp. | 3,234,255 | 1,547,817 | |
CSX Corp. | 48,129,093 | 1,398,631 | |
Waste Management Inc. | 8,455,890 | 1,293,582 | |
Norfolk Southern Corp. | 5,275,255 | 1,199,013 | |
FedEx Corp. | 5,278,105 | 1,196,599 | |
Illinois Tool Works Inc. | 6,272,963 | 1,143,248 | |
General Dynamics Corp. | 5,101,355 | 1,128,675 | |
Eaton Corp. plc | 8,831,367 | 1,112,664 | |
Emerson Electric Co. | 13,147,336 | 1,045,739 | |
L3Harris Technologies Inc. | 4,269,615 | 1,031,966 | |
Johnson Controls International plc | 15,396,621 | 737,190 | |
Cintas Corp. | 1,924,965 | 719,032 | |
Parker-Hannifin Corp. | 2,841,180 | 699,072 | |
Trane Technologies plc | 5,176,063 | 672,215 | |
Carrier Global Corp. | 18,773,969 | 669,480 | |
Otis Worldwide Corp. | 9,357,818 | 661,317 | |
Fastenal Co. | 12,741,563 | 636,059 | |
PACCAR Inc. | 7,696,007 | 633,689 | |
* | TransDigm Group Inc. | 1,147,870 | 616,027 |
Verisk Analytics Inc. Class A | 3,495,547 | 605,044 | |
Cummins Inc. | 3,123,313 | 604,455 | |
Republic Services Inc. Class A | 4,614,012 | 603,836 | |
AMETEK Inc. | 5,110,546 | 561,598 | |
Old Dominion Freight Line Inc. | 2,031,700 | 520,684 | |
* | Copart Inc. | 4,730,339 | 513,999 |
Rockwell Automation Inc. | 2,573,981 | 513,020 | |
Equifax Inc. | 2,706,911 | 494,769 | |
* | Southwest Airlines Co. | 13,128,116 | 474,188 |
Shares | Market Value• ($000) | ||
WW Grainger Inc. | 950,013 | 431,714 | |
Fortive Corp. | 7,932,007 | 431,343 | |
* | Delta Air Lines Inc. | 14,187,878 | 411,023 |
Quanta Services Inc. | 3,180,578 | 398,654 | |
Dover Corp. | 3,190,616 | 387,086 | |
* | United Rentals Inc. | 1,585,081 | 385,032 |
Ingersoll Rand Inc. | 8,987,554 | 378,196 | |
Expeditors International of Washington Inc. | 3,713,200 | 361,888 | |
Jacobs Engineering Group Inc. | 2,845,685 | 361,772 | |
Stanley Black & Decker Inc. | 3,341,222 | 350,361 | |
Westinghouse Air Brake Technologies Corp. | 4,042,541 | 331,812 | |
Xylem Inc. | 3,985,105 | 311,556 | |
IDEX Corp. | 1,682,570 | 305,605 | |
Leidos Holdings Inc. | 3,023,319 | 304,478 | |
* | Generac Holdings Inc. | 1,412,853 | 297,519 |
JB Hunt Transport Services Inc. | 1,855,680 | 292,214 | |
Textron Inc. | 4,762,144 | 290,824 | |
CH Robinson Worldwide Inc. | 2,815,657 | 285,423 | |
Masco Corp. | 5,223,621 | 264,315 | |
Howmet Aerospace Inc. | 8,323,360 | 261,770 | |
* | United Airlines Holdings Inc. | 7,234,665 | 256,252 |
Nordson Corp. | 1,192,770 | 241,464 | |
Snap-on Inc. | 1,181,395 | 232,770 | |
Huntington Ingalls Industries Inc. | 886,860 | 193,176 | |
Allegion plc | 1,945,468 | 190,461 | |
Nielsen Holdings plc | 7,954,399 | 184,701 | |
Robert Half International Inc. | 2,448,069 | 183,336 | |
* | American Airlines Group Inc. | 14,381,780 | 182,361 |
Rollins Inc. | 5,012,297 | 175,029 | |
Fortune Brands Home & Security Inc. | 2,892,838 | 173,223 | |
Pentair plc | 3,661,766 | 167,599 | |
A O Smith Corp. | 2,875,616 | 157,239 | |
* | Alaska Air Group Inc. | 2,788,821 | 111,692 |
55,118,991 | |||
Information Technology (26.7%) | |||
Apple Inc. | 340,328,725 | 46,529,743 | |
Microsoft Corp. | 165,540,119 | 42,515,669 | |
NVIDIA Corp. | 55,423,616 | 8,401,666 | |
Visa Inc. Class A | 36,176,263 | 7,122,744 | |
Mastercard Inc. Class A | 19,008,190 | 5,996,704 | |
Broadcom Inc. | 9,036,800 | 4,390,168 | |
Cisco Systems Inc. | 91,926,606 | 3,919,751 | |
Accenture plc Class A | 14,019,844 | 3,892,610 | |
* | Adobe Inc. | 10,458,510 | 3,828,442 |
* | Salesforce Inc. | 21,991,046 | 3,629,402 |
Intel Corp. | 90,505,257 | 3,385,802 | |
QUALCOMM Inc. | 24,789,972 | 3,166,671 | |
Texas Instruments Inc. | 20,410,033 | 3,136,002 | |
International Business Machines Corp. | 19,908,309 | 2,810,854 | |
* | Advanced Micro Devices Inc. | 35,868,564 | 2,742,869 |
Oracle Corp. | 34,844,212 | 2,434,565 |
Shares | Market Value• ($000) | ||
Intuit Inc. | 6,260,002 | 2,412,855 | |
* | ServiceNow Inc. | 4,437,261 | 2,110,006 |
Automatic Data Processing Inc. | 9,246,687 | 1,942,174 | |
* | PayPal Holdings Inc. | 25,633,062 | 1,790,213 |
Applied Materials Inc. | 19,553,340 | 1,778,963 | |
Analog Devices Inc. | 11,583,328 | 1,692,208 | |
Micron Technology Inc. | 24,718,257 | 1,366,425 | |
Lam Research Corp. | 3,070,634 | 1,308,551 | |
Fidelity National Information Services Inc. | 13,517,687 | 1,239,166 | |
* | Fiserv Inc. | 12,877,269 | 1,145,691 |
KLA Corp. | 3,303,438 | 1,054,061 | |
* | Synopsys Inc. | 3,388,222 | 1,029,003 |
Roper Technologies Inc. | 2,343,868 | 925,008 | |
* | Cadence Design Systems Inc. | 6,102,630 | 915,578 |
NXP Semiconductors NV | 5,810,726 | 860,162 | |
Amphenol Corp. Class A | 13,215,030 | 850,784 | |
* | Fortinet Inc. | 14,743,254 | 834,173 |
* | Autodesk Inc. | 4,814,011 | 827,817 |
Paychex Inc. | 7,110,393 | 809,661 | |
TE Connectivity Ltd. | 7,132,172 | 807,005 | |
Cognizant Technology Solutions Corp. Class A | 11,533,648 | 778,406 | |
Motorola Solutions Inc. | 3,703,870 | 776,331 | |
HP Inc. | 23,310,836 | 764,129 | |
Microchip Technology Inc. | 12,304,959 | 714,672 | |
Global Payments Inc. | 6,231,146 | 689,414 | |
* | Enphase Energy Inc. | 2,989,147 | 583,601 |
* | Keysight Technologies Inc. | 4,028,628 | 555,346 |
Corning Inc. | 16,827,512 | 530,235 | |
* | ON Semiconductor Corp. | 9,613,951 | 483,678 |
CDW Corp. | 2,989,673 | 471,053 | |
* | Arista Networks Inc. | 4,982,113 | 467,023 |
* | ANSYS Inc. | 1,924,772 | 460,579 |
* | Gartner Inc. | 1,782,272 | 431,007 |
* | Teledyne Technologies Inc. | 1,036,641 | 388,854 |
Hewlett Packard Enterprise Co. | 28,772,130 | 381,518 | |
* | EPAM Systems Inc. | 1,264,714 | 372,812 |
Monolithic Power Systems Inc. | 970,323 | 372,643 | |
Broadridge Financial Solutions Inc. | 2,594,639 | 369,866 | |
* | FleetCor Technologies Inc. | 1,711,603 | 359,625 |
* | VeriSign Inc. | 2,109,353 | 352,958 |
* | Zebra Technologies Corp. Class A | 1,162,236 | 341,639 |
* | SolarEdge Technologies Inc. | 1,225,811 | 335,480 |
Skyworks Solutions Inc. | 3,561,888 | 329,973 | |
* | Akamai Technologies Inc. | 3,548,147 | 324,052 |
* | Trimble Inc. | 5,536,632 | 322,398 |
Shares | Market Value• ($000) | ||
NetApp Inc. | 4,925,826 | 321,361 | |
Teradyne Inc. | 3,545,835 | 317,530 | |
Seagate Technology Holdings plc | 4,374,949 | 312,546 | |
* | Western Digital Corp. | 6,931,139 | 310,723 |
* | Tyler Technologies Inc. | 918,102 | 305,251 |
* | Paycom Software Inc. | 1,065,850 | 298,566 |
Jack Henry & Associates Inc. | 1,612,908 | 290,356 | |
NortonLifeLock Inc. | 12,879,931 | 282,843 | |
Citrix Systems Inc. | 2,761,099 | 268,296 | |
* | PTC Inc. | 2,330,922 | 247,870 |
* | Qorvo Inc. | 2,401,111 | 226,473 |
* | F5 Inc. | 1,339,094 | 204,935 |
Juniper Networks Inc. | 7,155,062 | 203,919 | |
* | DXC Technology Co. | 5,258,395 | 159,382 |
* | Ceridian HCM Holding Inc. | 3,037,973 | 143,028 |
189,453,537 | |||
Materials (2.6%) | |||
Linde plc | 11,139,785 | 3,203,022 | |
Sherwin-Williams Co. | 5,296,523 | 1,185,944 | |
Air Products and Chemicals Inc. | 4,908,135 | 1,180,308 | |
Newmont Corp. | 17,565,106 | 1,048,110 | |
Freeport-McMoRan Inc. | 32,080,218 | 938,667 | |
Corteva Inc. | 16,019,361 | 867,288 | |
Ecolab Inc. | 5,501,366 | 845,890 | |
Dow Inc. | 16,117,246 | 831,811 | |
International Flavors & Fragrances Inc. | 5,640,321 | 671,875 | |
DuPont de Nemours Inc. | 11,255,356 | 625,573 | |
Nucor Corp. | 5,888,991 | 614,870 | |
PPG Industries Inc. | 5,228,187 | 597,791 | |
Albemarle Corp. | 2,592,574 | 541,796 | |
LyondellBasell Industries NV Class A | 5,729,885 | 501,136 | |
Ball Corp. | 7,075,944 | 486,613 | |
Vulcan Materials Co. | 2,940,645 | 417,866 | |
Amcor plc | 33,248,248 | 413,276 | |
Martin Marietta Materials Inc. | 1,379,968 | 412,942 | |
CF Industries Holdings Inc. | 4,616,160 | ��� 395,743 | |
Mosaic Co. | 8,010,509 | 378,336 | |
International Paper Co. | 8,202,836 | 343,125 | |
FMC Corp. | 2,786,078 | 298,138 | |
Avery Dennison Corp. | 1,809,057 | 292,832 | |
Packaging Corp. of America | 2,074,338 | 285,221 | |
Celanese Corp. Class A | 2,397,608 | 281,983 | |
Eastman Chemical Co. | 2,853,788 | 256,184 | |
Westrock Co. | 5,643,546 | 224,839 | |
Sealed Air Corp. | 3,236,012 | 186,783 | |
18,327,962 | |||
Real Estate (2.9%) | |||
American Tower Corp. | 10,285,480 | 2,628,866 | |
Prologis Inc. | 16,384,750 | 1,927,666 | |
Crown Castle International Corp. | 9,584,498 | 1,613,838 | |
Equinix Inc. | 2,014,850 | 1,323,797 |
Shares | Market Value• ($000) | ||
Public Storage | 3,380,035 | 1,056,835 | |
Realty Income Corp. | 13,313,665 | 908,791 | |
Welltower Inc. | 10,049,646 | 827,588 | |
Digital Realty Trust Inc. | 6,302,253 | 818,221 | |
SBA Communications Corp. Class A | 2,386,299 | 763,735 | |
Simon Property Group Inc. | 7,267,096 | 689,793 | |
AvalonBay Communities Inc. | 3,094,739 | 601,153 | |
VICI Properties Inc. | 18,670,547 | 556,196 | |
Equity Residential | 7,575,175 | 547,079 | |
Weyerhaeuser Co. | 16,481,090 | 545,854 | |
* | CBRE Group Inc. Class A | 7,236,157 | 532,653 |
Extra Space Storage Inc. | 2,972,966 | 505,761 | |
Alexandria Real Estate Equities Inc. | 3,286,776 | 476,681 | |
Duke Realty Corp. | 8,507,492 | 467,487 | |
Ventas Inc. | 8,849,985 | 455,155 | |
Mid-America Apartment Communities Inc. | 2,554,301 | 446,160 | |
Essex Property Trust Inc. | 1,445,826 | 378,098 | |
Camden Property Trust | 2,357,558 | 317,044 | |
Iron Mountain Inc. | 6,431,655 | 313,157 | |
Healthpeak Properties Inc. | 11,943,445 | 309,455 | |
UDR Inc. | 6,624,958 | 305,013 | |
Boston Properties Inc. | 3,156,746 | 280,887 | |
Kimco Realty Corp. | 13,681,951 | 270,492 | |
Host Hotels & Resorts Inc. | 15,824,850 | 248,134 | |
Regency Centers Corp. | 3,435,390 | 203,753 | |
Federal Realty Investment Trust | 1,580,800 | 151,346 | |
Vornado Realty Trust | 3,519,970 | 100,636 | |
20,571,324 | |||
Utilities (3.1%) | |||
NextEra Energy Inc. | 43,482,351 | 3,368,143 | |
Duke Energy Corp. | 17,040,850 | 1,826,949 | |
Southern Co. | 23,519,216 | 1,677,155 | |
Dominion Energy Inc. | 17,957,779 | 1,433,210 | |
American Electric Power Co. Inc. | 11,365,793 | 1,090,434 | |
Sempra Energy (XNYS) | 6,957,428 | 1,045,493 | |
Exelon Corp. | 21,693,189 | 983,135 | |
Xcel Energy Inc. | 12,053,120 | 852,879 | |
Consolidated Edison Inc. | 7,840,842 | 745,664 |
Shares | Market Value• ($000) | ||
WEC Energy Group Inc. | 6,981,263 | 702,594 | |
Public Service Enterprise Group Inc. | 11,049,266 | 699,198 | |
Eversource Energy | 7,633,630 | 644,813 | |
American Water Works Co. Inc. | 4,023,439 | 598,567 | |
DTE Energy Co. | 4,286,796 | 543,351 | |
Edison International | 8,439,256 | 533,699 | |
Ameren Corp. | 5,714,163 | 516,332 | |
Entergy Corp. | 4,502,731 | 507,188 | |
FirstEnergy Corp. | 12,641,154 | 485,294 | |
PPL Corp. | 16,284,262 | 441,792 | |
CMS Energy Corp. | 6,420,478 | 433,382 | |
Constellation Energy Corp. | 7,229,300 | 413,950 | |
CenterPoint Energy Inc. | 13,930,025 | 412,050 | |
Atmos Energy Corp. | 3,077,495 | 344,987 | |
Evergy Inc. | 5,080,399 | 331,496 | |
Alliant Energy Corp. | 5,551,911 | 325,397 | |
AES Corp. | 14,783,389 | 310,599 | |
NiSource Inc. | 8,985,369 | 264,979 | |
NRG Energy Inc. | 5,250,432 | 200,409 | |
Pinnacle West Capital Corp. | 2,503,276 | 183,040 | |
21,916,179 | |||
Total Common Stocks (Cost $481,616,818) | 705,700,312 | ||
Temporary Cash Investments (0.6%) | |||
Money Market Fund (0.6%) | |||
2,3 | Vanguard Market Liquidity Fund, 1.417% (Cost $4,443,101) | 44,447,190 | 4,443,385 |
Total Investments (100.1%) (Cost $486,059,919) | 710,143,697 | ||
Other Assets and Liabilities—Net (-0.1%) | (484,913) | ||
Net Assets (100%) | 709,658,784 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $32,692,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $35,874,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2022 | 18,722 | 3,547,351 | (96,884) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
DXC Technology Co. | 8/31/22 | BANA | 4,547 | (1.970) | — | (2) |
Goldman Sachs Group Inc. | 8/31/23 | BANA | 62,374 | (1.420) | 342 | — |
Goldman Sachs Group Inc. | 8/31/23 | BANA | 8,911 | (1.420) | 49 | — |
Kroger Co. | 1/31/23 | GSI | 50,880 | (0.820) | — | (3,566) |
Netflix Inc. | 8/31/22 | BANA | 17,487 | (0.820) | — | (13) |
Signature Bank | 8/31/23 | BANA | 35,842 | (1.570) | — | (71) |
Signature Bank | 8/31/23 | BANA | 8,064 | (1.570) | — | (5) |
State Street Corp. | 8/31/23 | BANA | 117,135 | (1.420) | 925 | — |
State Street Corp. | 8/31/23 | BANA | 9,247 | (1.420) | 73 | — |
VICI Properties Inc. | 8/31/22 | BANA | 78,944 | (2.120) | 909 | — |
Visa Inc. Class A | 8/31/22 | BANA | 49,223 | (0.720) | 63 | — |
2,361 | (3,657) |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $481,616,818) | 705,700,312 |
Affiliated Issuers (Cost $4,443,101) | 4,443,385 |
Total Investments in Securities | 710,143,697 |
Investment in Vanguard | 27,494 |
Cash Collateral Pledged—Futures Contracts | 196,589 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 36,600 |
Receivables for Investment Securities Sold | 7,005 |
Receivables for Accrued Income | 635,517 |
Receivables for Capital Shares Issued | 168,661 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 2,361 |
Total Assets | 711,217,924 |
Liabilities | |
Due to Custodian | 59,045 |
Payables for Investment Securities Purchased | 226,408 |
Collateral for Securities on Loan | 35,874 |
Payables for Capital Shares Redeemed | 181,218 |
Payables for Distributions | 1,013,651 |
Payables to Vanguard | 9,566 |
Variation Margin Payable—Futures Contracts | 29,721 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 3,657 |
Total Liabilities | 1,559,140 |
Net Assets | 709,658,784 |
1 Includes $32,692 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 475,523,221 |
Total Distributable Earnings (Loss) | 234,135,563 |
Net Assets | 709,658,784 |
Investor Shares—Net Assets | |
Applicable to 9,323,822 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,257,967 |
Net Asset Value Per Share—Investor Shares | $349.42 |
ETF Shares—Net Assets | |
Applicable to 705,606,438 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 244,635,031 |
Net Asset Value Per Share—ETF Shares | $346.70 |
Admiral Shares—Net Assets | |
Applicable to 1,036,948,611 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 362,280,317 |
Net Asset Value Per Share—Admiral Shares | $349.37 |
Institutional Select Shares—Net Assets | |
Applicable to 537,380,224 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 99,485,469 |
Net Asset Value Per Share—Institutional Select Shares | $185.13 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 5,907,620 |
Interest2 | 9,086 |
Securities Lending—Net | 242 |
Total Income | 5,916,948 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 2,904 |
Management and Administrative—Investor Shares | 2,547 |
Management and Administrative—ETF Shares | 32,473 |
Management and Administrative—Admiral Shares | 71,392 |
Management and Administrative—Institutional Select Shares | 4,329 |
Marketing and Distribution—Investor Shares | 107 |
Marketing and Distribution—ETF Shares | 4,292 |
Marketing and Distribution—Admiral Shares | 6,616 |
Marketing and Distribution—Institutional Select Shares | 539 |
Custodian Fees | 1,470 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 1,553 |
Shareholders’ Reports—Admiral Shares | 781 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 201 |
Other Expenses | 12 |
Total Expenses | 129,217 |
Expenses Paid Indirectly | (1) |
Net Expenses | 129,216 |
Net Investment Income | 5,787,732 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 19,033,449 |
Futures Contracts | (749,180) |
Swap Contracts | (143,588) |
Realized Net Gain (Loss) | 18,140,681 |
Statement of Operations (continued) | |
Six Months Ended June 30, 2022 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (197,853,207) |
Futures Contracts | (187,217) |
Swap Contracts | (4,138) |
Change in Unrealized Appreciation (Depreciation) | (198,044,562) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (174,116,149) |
1 | Dividends are net of foreign withholding taxes of $1,476,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $9,060,000, ($295,000), and ($368,000), respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $20,932,586,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 5,787,732 | 10,217,597 | |
Realized Net Gain (Loss) | 18,140,681 | 30,970,270 | |
Change in Unrealized Appreciation (Depreciation) | (198,044,562) | 147,215,737 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (174,116,149) | 188,403,604 | |
Distributions | |||
Investor Shares | (24,820) | (59,162) | |
ETF Shares | (1,975,504) | (3,296,146) | |
Admiral Shares | (2,893,905) | (5,602,317) | |
Institutional Select Shares | (797,326) | (1,515,092) | |
Total Distributions | (5,691,555) | (10,472,717) | |
Capital Share Transactions | |||
Investor Shares | (386,733) | (1,095,734) | |
ETF Shares | 25,363,456 | 47,041,730 | |
Admiral Shares | 2,458,308 | (2,715,238) | |
Institutional Select Shares | 5,949,941 | (1,997,365) | |
Net Increase (Decrease) from Capital Share Transactions | 33,384,972 | 41,233,393 | |
Total Increase (Decrease) | (146,422,732) | 219,164,280 | |
Net Assets | |||
Beginning of Period | 856,081,516 | 636,917,236 | |
End of Period | 709,658,784 | 856,081,516 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $439.86 | $346.60 | $298.16 | $231.44 | $246.82 | $206.57 |
Investment Operations | ||||||
Net Investment Income1 | 2.685 | 4.910 | 5.128 | 4.801 | 4.896 | 4.221 |
Net Realized and Unrealized Gain (Loss) on Investments | (90.535) | 93.389 | 48.323 | 67.211 | (15.776) | 40.205 |
Total from Investment Operations | (87.850) | 98.299 | 53.451 | 72.012 | (10.880) | 44.426 |
Distributions | ||||||
Dividends from Net Investment Income | (2.590) | (5.039) | (5.011) | (5.292) | (4.500) | (4.176) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.590) | (5.039) | (5.011) | (5.292) | (4.500) | (4.176) |
Net Asset Value, End of Period | $349.42 | $439.86 | $346.60 | $298.16 | $231.44 | $246.82 |
Total Return2 | -20.02% | 28.53% | 18.25% | 31.33% | -4.52% | 21.67% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $3,258 | $4,512 | $4,504 | $4,723 | $23,162 | $27,656 |
Ratio of Total Expenses to Average Net Assets | 0.14%3 | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% |
Ratio of Net Investment Income to Average Net Assets | 1.36% | 1.25% | 1.73% | 1.82% | 1.95% | 1.87% |
Portfolio Turnover Rate4 | 1% | 2% | 4% | 4% | 4% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $436.47 | $343.93 | $295.87 | $229.68 | $244.94 | $205.00 |
Investment Operations | ||||||
Net Investment Income1 | 2.892 | 5.353 | 5.413 | 5.298 | 5.196 | 4.434 |
Net Realized and Unrealized Gain (Loss) on Investments | (89.856) | 92.624 | 47.950 | 66.463 | (15.719) | 39.874 |
Total from Investment Operations | (86.964) | 97.977 | 53.363 | 71.761 | (10.523) | 44.308 |
Distributions | ||||||
Dividends from Net Investment Income | (2.806) | (5.437) | (5.303) | (5.571) | (4.737) | (4.368) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.806) | (5.437) | (5.303) | (5.571) | (4.737) | (4.368) |
Net Asset Value, End of Period | $346.70 | $436.47 | $343.93 | $295.87 | $229.68 | $244.94 |
Total Return | -19.98% | 28.66% | 18.35% | 31.46% | -4.42% | 21.78% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $244,635 | $279,850 | $177,991 | $130,728 | $90,639 | $83,640 |
Ratio of Total Expenses to Average Net Assets | 0.03%2 | 0.03% | 0.03% | 0.03% | 0.03% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.48% | 1.36% | 1.83% | 1.98% | 2.06% | 1.97% |
Portfolio Turnover Rate3 | 1% | 2% | 4% | 4% | 4% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.03%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $439.83 | $346.57 | $298.14 | $231.44 | $246.82 | $206.57 |
Investment Operations | ||||||
Net Investment Income1 | 2.886 | 5.326 | 5.427 | 5.319 | 5.181 | 4.458 |
Net Realized and Unrealized Gain (Loss) on Investments | (90.541) | 93.371 | 48.314 | 66.962 | (15.808) | 40.193 |
Total from Investment Operations | (87.655) | 98.697 | 53.741 | 72.281 | (10.627) | 44.651 |
Distributions | ||||||
Dividends from Net Investment Income | (2.805) | (5.437) | (5.311) | (5.581) | (4.753) | (4.401) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.805) | (5.437) | (5.311) | (5.581) | (4.753) | (4.401) |
Net Asset Value, End of Period | $349.37 | $439.83 | $346.57 | $298.14 | $231.44 | $246.82 |
Total Return2 | -19.98% | 28.66% | 18.37% | 31.46% | -4.43% | 21.79% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $362,280 | $453,239 | $359,553 | $319,624 | $230,375 | $235,232 |
Ratio of Total Expenses to Average Net Assets | 0.04%3 | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.47% | 1.35% | 1.83% | 1.97% | 2.05% | 1.97% |
Portfolio Turnover Rate4 | 1% | 2% | 4% | 4% | 4% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Select Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $233.06 | $183.64 | $157.98 | $122.64 | $130.79 | $109.45 |
Investment Operations | ||||||
Net Investment Income1 | 1.562 | 2.885 | 2.924 | 2.857 | 2.808 | 2.423 |
Net Realized and Unrealized Gain (Loss) on Investments | (47.978) | 49.478 | 25.597 | 35.484 | (8.400) | 21.283 |
Total from Investment Operations | (46.416) | 52.363 | 28.521 | 38.341 | (5.592) | 23.706 |
Distributions | ||||||
Dividends from Net Investment Income | (1.514) | (2.943) | (2.861) | (3.001) | (2.558) | (2.366) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.514) | (2.943) | (2.861) | (3.001) | (2.558) | (2.366) |
Net Asset Value, End of Period | $185.13 | $233.06 | $183.64 | $157.98 | $122.64 | $130.79 |
Total Return | -19.97% | 28.70% | 18.40% | 31.49% | -4.40% | 21.83% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $99,485 | $118,481 | $94,870 | $81,230 | $56,531 | $44,907 |
Ratio of Total Expenses to Average Net Assets | 0.01%2 | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
Ratio of Net Investment Income to Average Net Assets | 1.50% | 1.38% | 1.86% | 2.00% | 2.08% | 2.00% |
Portfolio Turnover Rate3 | 1% | 2% | 4% | 4% | 4% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.01%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended June 30, 2022, custodian fee offset arrangements reduced the fund’s expenses by $1,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 705,700,312 | — | — | 705,700,312 |
Temporary Cash Investments | 4,443,385 | — | — | 4,443,385 |
Total | 710,143,697 | — | — | 710,143,697 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 2,361 | — | 2,361 |
Liabilities | ||||
Futures Contracts1 | 96,884 | — | — | 96,884 |
Swap Contracts | — | 3,657 | — | 3,657 |
Total | 96,884 | 3,657 | — | 100,541 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | As of June 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 486,547,112 |
Gross Unrealized Appreciation | 243,697,427 |
Gross Unrealized Depreciation | (20,197,726) |
Net Unrealized Appreciation (Depreciation) | 223,499,701 |
F. | During the six months ended June 30, 2022, the fund purchased $68,543,754,000 of investment securities and sold $36,306,005,000 of investment securities, other than temporary cash investments. Purchases and sales include $51,439,202,000 and $28,145,129,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital share transactions for each class of shares were: |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 94,001 | 237 | 172,587 | 443 | |
Issued in Lieu of Cash Distributions | 24,817 | 65 | 59,155 | 150 | |
Redeemed | (505,551) | (1,236) | (1,327,476) | (3,329) | |
Net Increase (Decrease)—Investor Shares | (386,733) | (934) | (1,095,734) | (2,736) | |
ETF Shares | |||||
Issued | 53,837,402 | 135,492 | 79,932,127 | 204,970 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (28,473,946) | (71,050) | (32,890,397) | (81,325) | |
Net Increase (Decrease)—ETF Shares | 25,363,456 | 64,442 | 47,041,730 | 123,645 | |
Admiral Shares | |||||
Issued | 23,094,423 | 58,275 | 40,334,657 | 103,425 | |
Issued in Lieu of Cash Distributions | 2,526,721 | 6,668 | 4,903,407 | 12,411 | |
Redeemed | (23,162,836) | (58,485) | (47,953,302) | (122,796) | |
Net Increase (Decrease)—Admiral Shares | 2,458,308 | 6,458 | (2,715,238) | (6,960) | |
Institutional Select Shares | |||||
Issued | 7,471,424 | 36,011 | 10,078,153 | 48,403 | |
Issued in Lieu of Cash Distributions | 797,326 | 3,973 | 1,515,092 | 7,237 | |
Redeemed | (2,318,809) | (10,975) | (13,590,610) | (63,866) | |
Net Increase (Decrease)—Institutional Select Shares | 5,949,941 | 29,009 | (1,997,365) | (8,226) |
H. | Management has determined that no events or transactions occurred subsequent to June 30, 2022, that would require recognition or disclosure in these financial statements. |
All rights reserved.
U.S. Patent Nos. 6,879,964.
Vanguard Marketing Corporation, Distributor.
Vanguard Small-Cap Index Fund |
Vanguard Small-Cap Growth Index Fund |
Vanguard Small-Cap Value Index Fund |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended June 30, 2022 | |||
Beginning Account Value 12/31/2021 | Ending Account Value 6/30/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Small-Cap Index Fund | |||
Investor Shares | $1,000.00 | $783.00 | $0.75 |
ETF Shares | 1,000.00 | 783.50 | 0.22 |
Admiral™ Shares | 1,000.00 | 783.50 | 0.22 |
Institutional Shares | 1,000.00 | 783.50 | 0.18 |
Institutional Plus Shares | 1,000.00 | 783.50 | 0.13 |
Small-Cap Growth Index Fund | |||
Investor Shares | $1,000.00 | $700.10 | $0.80 |
ETF Shares | 1,000.00 | 700.60 | 0.30 |
Admiral Shares | 1,000.00 | 700.60 | 0.30 |
Institutional Shares | 1,000.00 | 700.60 | 0.25 |
Small-Cap Value Index Fund | |||
Investor Shares | $1,000.00 | $844.60 | $0.87 |
ETF Shares | 1,000.00 | 845.20 | 0.32 |
Admiral Shares | 1,000.00 | 845.20 | 0.32 |
Institutional Shares | 1,000.00 | 845.20 | 0.27 |
Based on Hypothetical 5% Yearly Return | |||
Small-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.55 | 0.25 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Plus Shares | 1,000.00 | 1,024.65 | 0.15 |
Small-Cap Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.45 | 0.35 |
Admiral Shares | 1,000.00 | 1,024.45 | 0.35 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Small-Cap Value Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.45 | 0.35 |
Admiral Shares | 1,000.00 | 1,024.45 | 0.35 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Basic Materials | 4.0% |
Consumer Discretionary | 14.1 |
Consumer Staples | 3.5 |
Energy | 5.4 |
Financials | 15.3 |
Health Care | 11.5 |
Industrials | 19.6 |
Real Estate | 9.2 |
Technology | 11.9 |
Telecommunications | 1.5 |
Utilities | 4.0 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.3%) | ||||||
Basic Materials (4.0%) | ||||||
Steel Dynamics Inc. | 4,530,833 | 299,715 | ||||
Reliance Steel & Aluminum Co. | 1,565,656 | 265,942 | ||||
Alcoa Corp. | 4,661,493 | 212,471 | ||||
* | Cleveland-Cliffs Inc. | 11,937,082 | 183,473 | |||
Royal Gold Inc. | 1,658,881 | 177,135 | ||||
Olin Corp. | 3,645,872 | 168,731 | ||||
* | RBC Bearings Inc. | 729,579 | 134,936 | |||
Valvoline Inc. | 4,504,243 | 129,857 | ||||
Ashland Global Holdings Inc. | 1,240,432 | 127,826 | ||||
Huntsman Corp. | 4,508,582 | 127,818 | ||||
Chemours Co. | 3,929,000 | 125,807 | ||||
Hexcel Corp. | 2,123,251 | 111,067 | ||||
* | Univar Solutions Inc. | 4,275,800 | 106,339 | |||
United States Steel Corp. | 5,930,800 | 106,221 | ||||
Element Solutions Inc. | 5,946,582 | 105,849 | ||||
UFP Industries Inc. | 1,504,337 | 102,506 | ||||
Commercial Metals Co. | 3,068,418 | 101,565 | ||||
Balchem Corp. | 730,263 | 94,744 | ||||
* | Livent Corp. | 4,087,792 | 92,752 | |||
Avient Corp. | 2,309,974 | 92,584 | ||||
Cabot Corp. | 1,426,459 | 90,994 | ||||
Timken Co. | 1,686,555 | 89,472 | ||||
Sensient Technologies Corp. | 1,062,436 | 85,590 | ||||
*,1 | MP Materials Corp. | 2,465,413 | 79,090 | |||
Scotts Miracle-Gro Co. | 980,198 | 77,426 | ||||
* | Arconic Corp. | 2,672,310 | 74,958 | |||
Mueller Industries Inc. | 1,366,971 | 72,846 | ||||
* | Ingevity Corp. | 977,557 | 61,723 | |||
Innospec Inc. | 627,142 | 60,074 | ||||
Boise Cascade Co. | 997,751 | 59,356 | ||||
NewMarket Corp. | 193,939 | 58,368 | ||||
Stepan Co. | 535,783 | 54,302 | ||||
Hecla Mining Co. | 13,622,109 | 53,399 | ||||
Minerals Technologies Inc. | 831,167 | 50,984 |
Shares | Market Value• ($000) | |||||
Quaker Chemical Corp. | 338,754 | 50,650 | ||||
Tronox Holdings plc Class A | 2,950,532 | 49,569 | ||||
* | GCP Applied Technologies Inc. | 1,403,386 | 43,898 | |||
Westlake Corp. | 405,821 | 39,779 | ||||
Materion Corp. | 516,427 | 38,076 | ||||
GrafTech International Ltd. | 4,924,095 | 34,813 | ||||
Carpenter Technology Corp. | 1,219,247 | 34,029 | ||||
Worthington Industries Inc. | 760,913 | 33,556 | ||||
Kaiser Aluminum Corp. | 400,813 | 31,700 | ||||
Compass Minerals International Inc. | 860,760 | 30,462 | ||||
Schnitzer Steel Industries Inc. Class A | 620,609 | 20,381 | ||||
Schweitzer-Mauduit International Inc. | 788,126 | 19,798 | ||||
* | Coeur Mining Inc. | 6,396,800 | 19,446 | |||
Ecovyst Inc. | 1,592,859 | 15,690 | ||||
Koppers Holdings Inc. | 511,478 | 11,580 | ||||
*,1 | Amyris Inc. | 5,282,904 | 9,773 | |||
* | Century Aluminum Co. | 1,271,065 | 9,368 | |||
Glatfelter Corp. | 557,922 | 3,838 | ||||
* | Hycroft Mining Holding Corp. Warrants Exp. 10/22/22 | 19 | — | |||
4,332,326 | ||||||
Consumer Discretionary (14.0%) | ||||||
* | Liberty Media Corp.-Liberty Formula One Class C | 4,894,705 | 310,667 | |||
Service Corp. International | 3,810,915 | 263,410 | ||||
* | BJ's Wholesale Club Holdings Inc. | 3,409,102 | 212,455 |
Shares | Market Value• ($000) | |||||
Lithia Motors Inc. Class A | 731,278 | 200,962 | ||||
Aramark | 6,501,821 | 199,151 | ||||
* | Mattel Inc. | 8,908,239 | 198,921 | |||
Williams-Sonoma Inc. | 1,769,874 | 196,367 | ||||
Tapestry Inc. | 6,364,117 | 194,233 | ||||
Newell Brands Inc. | 9,403,677 | 179,046 | ||||
* | Deckers Outdoor Corp. | 688,403 | 175,784 | |||
Pool Corp. | 481,186 | 169,007 | ||||
Gentex Corp. | 5,925,528 | 165,737 | ||||
Churchill Downs Inc. | 864,732 | 165,622 | ||||
* | Floor & Decor Holdings Inc. Class A | 2,541,170 | 159,992 | |||
* | Five Below Inc. | 1,402,776 | 159,117 | |||
Nexstar Media Group Inc. Class A | 969,961 | 157,987 | ||||
* | Capri Holdings Ltd. | 3,730,612 | 152,992 | |||
Wyndham Hotels & Resorts Inc. | 2,327,638 | 152,972 | ||||
Nielsen Holdings plc | 6,363,817 | 147,768 | ||||
* | Planet Fitness Inc. Class A | 2,146,402 | 145,977 | |||
H&R Block Inc. | 4,033,179 | 142,452 | ||||
Polaris Inc. | 1,428,200 | 141,792 | ||||
Interpublic Group of Cos. Inc. | 4,974,295 | 136,942 | ||||
* | SiteOne Landscape Supply Inc. | 1,135,162 | 134,937 | |||
Macy's Inc. | 7,198,958 | 131,885 | ||||
* | AutoNation Inc. | 1,179,243 | 131,792 | |||
Murphy USA Inc. | 550,706 | 128,243 | ||||
* | Penn National Gaming Inc. | 4,215,078 | 128,223 | |||
* | Alaska Air Group Inc. | 3,184,601 | 127,543 | |||
* | Bright Horizons Family Solutions Inc. | 1,500,905 | 126,856 | |||
Texas Roadhouse Inc. Class A | 1,722,713 | 126,103 | ||||
Toll Brothers Inc. | 2,814,571 | 125,530 | ||||
* | Terminix Global Holdings Inc. | 3,069,596 | 124,779 | |||
* | Skechers USA Inc. Class A | 3,408,480 | 121,274 | |||
TEGNA Inc. | 5,631,993 | 118,103 | ||||
*,1 | Norwegian Cruise Line Holdings Ltd. | 10,587,339 | 117,731 | |||
Leggett & Platt Inc. | 3,374,477 | 116,689 | ||||
Kohl's Corp. | 3,249,349 | 115,969 | ||||
* | Light & Wonder Inc. | 2,417,023 | 113,576 | |||
Vail Resorts Inc. | 512,500 | 111,751 | ||||
New York Times Co. Class A | 4,001,129 | 111,631 | ||||
* | IAA Inc. | 3,385,945 | 110,957 | |||
Choice Hotels International Inc. | 986,760 | 110,152 |
Shares | Market Value• ($000) | |||||
*,1 | DraftKings Inc. Class A | 9,393,933 | 109,627 | |||
Marriott Vacations Worldwide Corp. | 942,311 | 109,497 | ||||
* | Avis Budget Group Inc. | 732,166 | 107,687 | |||
AMERCO | 222,960 | 106,626 | ||||
Harley-Davidson Inc. | 3,353,618 | 106,176 | ||||
* | RH | 498,561 | 105,825 | |||
* | American Airlines Group Inc. | 8,205,017 | 104,040 | |||
1 | Dick's Sporting Goods Inc. | 1,366,868 | 103,021 | |||
*,1 | GameStop Corp. Class A | 819,831 | 100,265 | |||
Thor Industries Inc. | 1,320,201 | 98,659 | ||||
* | Helen of Troy Ltd. | 602,325 | 97,824 | |||
PVH Corp. | 1,706,880 | 97,121 | ||||
Boyd Gaming Corp. | 1,937,722 | 96,402 | ||||
Lear Corp. | 755,480 | 95,107 | ||||
* | Asbury Automotive Group Inc. | 559,341 | 94,719 | |||
Ralph Lauren Corp. | 1,028,297 | 92,187 | ||||
* | Hyatt Hotels Corp. Class A | 1,230,309 | 90,932 | |||
Hanesbrands Inc. | 8,818,148 | 90,739 | ||||
*,1 | Hertz Global Holdings Inc. | 5,727,802 | 90,728 | |||
Tempur Sealy International Inc. | 4,214,324 | 90,060 | ||||
* | YETI Holdings Inc. | 2,068,054 | 89,485 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 6,529,534 | 88,475 | |||
* | Fox Factory Holding Corp. | 1,064,844 | 85,763 | |||
Wendy's Co. | 4,332,701 | 81,801 | ||||
* | Hilton Grand Vacations Inc. | 2,278,787 | ��� 81,421 | |||
Travel + Leisure Co. | 2,050,460 | 79,599 | ||||
Academy Sports & Outdoors Inc. | 2,181,288 | 77,523 | ||||
Bath & Body Works Inc. | 2,864,042 | 77,100 | ||||
* | Grand Canyon Education Inc. | 816,866 | 76,941 | |||
* | Goodyear Tire & Rubber Co. | 7,139,614 | 76,465 | |||
* | Coty Inc. Class A | 9,543,200 | 76,441 | |||
* | Wynn Resorts Ltd. | 1,318,836 | 75,147 | |||
* | Dorman Products Inc. | 675,246 | 74,081 | |||
* | Visteon Corp. | 710,541 | 73,598 | |||
* | Crocs Inc. | 1,478,492 | 71,958 | |||
* | Callaway Golf Co. | 3,500,074 | 71,401 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 1,206,447 | 70,879 | |||
Penske Automotive Group Inc. | 671,132 | 70,261 |
Shares | Market Value• ($000) | |||||
LCI Industries | 610,053 | 68,253 | ||||
World Wrestling Entertainment Inc. Class A | 1,091,554 | 68,211 | ||||
Carter's Inc. | 966,481 | 68,118 | ||||
Papa John's International Inc. | 814,397 | 68,018 | ||||
* | JetBlue Airways Corp. | 8,106,658 | 67,853 | |||
* | Peloton Interactive Inc. Class A | 7,378,935 | 67,739 | |||
Group 1 Automotive Inc. | 398,837 | 67,722 | ||||
* | Meritage Homes Corp. | 927,716 | 67,259 | |||
* | Taylor Morrison Home Corp. Class A | 2,873,105 | 67,116 | |||
*,1 | Spirit Airlines Inc. | 2,746,116 | 65,467 | |||
* | Skyline Champion Corp. | 1,365,107 | 64,733 | |||
Columbia Sportswear Co. | 874,490 | 62,596 | ||||
Foot Locker Inc. | 2,426,131 | 61,260 | ||||
Signet Jewelers Ltd. | 1,138,846 | 60,883 | ||||
KB Home | 2,130,303 | 60,628 | ||||
* | Madison Square Garden Sports Corp. | 397,395 | 60,007 | |||
Nordstrom Inc. | 2,813,834 | 59,456 | ||||
Rush Enterprises Inc. Class A | 1,217,546 | 58,686 | ||||
* | Victoria's Secret & Co. | 2,094,906 | 58,594 | |||
Steven Madden Ltd. | 1,814,716 | 58,452 | ||||
* | Sonos Inc. | 3,234,294 | 58,347 | |||
* | Chegg Inc. | 3,017,608 | 56,671 | |||
* | National Vision Holdings Inc. | 2,059,492 | 56,636 | |||
Wingstop Inc. | 755,479 | 56,487 | ||||
Gap Inc. | 6,531,511 | 53,820 | ||||
Graham Holdings Co. Class B | 94,021 | 53,295 | ||||
* | Leslie's Inc. | 3,460,309 | 52,527 | |||
* | Gentherm Inc. | 836,162 | 52,185 | |||
John Wiley & Sons Inc. Class A | 1,058,524 | 50,555 | ||||
MillerKnoll Inc. | 1,911,139 | 50,206 | ||||
* | Frontdoor Inc. | 2,080,416 | 50,096 | |||
Cracker Barrel Old Country Store Inc. | 585,667 | 48,897 | ||||
* | SeaWorld Entertainment Inc. | 1,103,173 | 48,738 | |||
* | Lyft Inc. Class A | 3,639,152 | 48,328 | |||
* | Sabre Corp. | 8,233,254 | 48,000 | |||
Kontoor Brands Inc. | 1,413,340 | 47,163 | ||||
MDC Holdings Inc. | 1,434,658 | 46,354 | ||||
Dana Inc. | 3,253,643 | 45,779 | ||||
*,1 | Duolingo Inc. Class A | 521,477 | 45,655 | |||
* | TripAdvisor Inc. | 2,560,336 | 45,574 |
Shares | Market Value• ($000) | |||||
* | KAR Auction Services Inc. | 3,072,077 | 45,375 | |||
PriceSmart Inc. | 623,196 | 44,640 | ||||
* | Tri Pointe Homes Inc. | 2,617,767 | 44,162 | |||
Red Rock Resorts Inc. Class A | 1,322,309 | 44,112 | ||||
* | LGI Homes Inc. | 507,239 | 44,079 | |||
*,1 | QuantumScape Corp. Class A | 5,126,212 | 44,034 | |||
* | Allegiant Travel Co. | 388,423 | 43,927 | |||
1 | American Eagle Outfitters Inc. | 3,855,346 | 43,103 | |||
* | Six Flags Entertainment Corp. | 1,963,434 | 42,606 | |||
* | Under Armour Inc. Class C | 5,594,314 | 42,405 | |||
* | Stride Inc. | 1,027,404 | 41,908 | |||
* | Wayfair Inc. Class A | 953,798 | 41,547 | |||
* | Cinemark Holdings Inc. | 2,734,741 | 41,076 | |||
Wolverine World Wide Inc. | 2,036,889 | 41,064 | ||||
* | Central Garden & Pet Co. Class A | 1,023,698 | 40,958 | |||
* | Knowles Corp. | 2,318,212 | 40,175 | |||
Strategic Education Inc. | 569,030 | 40,162 | ||||
* | Adtalem Global Education Inc. | 1,081,461 | 38,900 | |||
* | Under Armour Inc. Class A | 4,628,673 | 38,557 | |||
* | elf Beauty Inc. | 1,250,977 | 38,380 | |||
Laureate Education Inc. Class A | 3,262,504 | 37,747 | ||||
Bloomin' Brands Inc. | 2,237,217 | 37,183 | ||||
* | Shake Shack Inc. Class A | 940,730 | 37,140 | |||
* | Madison Square Garden Entertainment Corp. | 689,802 | 36,297 | |||
* | Tenneco Inc. Class A | 2,104,056 | 36,106 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 621,716 | 36,041 | |||
* | Coursera Inc. | 2,540,687 | 36,027 | |||
Levi Strauss & Co. Class A | 2,199,158 | 35,890 | ||||
HNI Corp. | 1,015,259 | 35,219 | ||||
* | Driven Brands Holdings Inc. | 1,267,136 | 34,897 | |||
Oxford Industries Inc. | 392,480 | 34,829 | ||||
Monro Inc. | 805,929 | 34,558 | ||||
Acushnet Holdings Corp. | 820,461 | 34,197 | ||||
*,1 | Fisker Inc. Class A | 3,956,305 | 33,906 | |||
Cheesecake Factory Inc. | 1,268,388 | 33,511 |
Shares | Market Value• ($000) | |||||
Inter Parfums Inc. | 446,787 | 32,642 | ||||
* | Dave & Buster's Entertainment Inc. | 983,391 | 32,236 | |||
* | Sally Beauty Holdings Inc. | 2,699,078 | 32,173 | |||
* | ODP Corp. | 1,057,199 | 31,970 | |||
*,1 | Luminar Technologies Inc. Class A | 5,097,635 | 30,229 | |||
Jack in the Box Inc. | 531,004 | 29,768 | ||||
*,1 | Petco Health & Wellness Co. Inc. Class A | 2,013,672 | 29,682 | |||
* | Figs Inc. Class A | 3,200,928 | 29,160 | |||
* | Carvana Co. | 1,267,131 | 28,612 | |||
Sturm Ruger & Co. Inc. | 445,969 | 28,386 | ||||
*,1 | Overstock.com Inc. | 1,089,015 | 27,236 | |||
* | SkyWest Inc. | 1,269,823 | 26,984 | |||
*,1 | Dutch Bros Inc. Class A | 848,257 | 26,847 | |||
* | Revolve Group Inc. Class A | 1,032,713 | 26,758 | |||
* | Urban Outfitters Inc. | 1,430,040 | 26,685 | |||
Dine Brands Global Inc. | 401,288 | 26,116 | ||||
* | Boot Barn Holdings Inc. | 376,587 | 25,951 | |||
La-Z-Boy Inc. | 1,087,560 | 25,786 | ||||
* | Lions Gate Entertainment Corp. Class B | 2,919,930 | 25,783 | |||
*,1 | Sweetgreen Inc. Class A | 2,181,024 | 25,409 | |||
* | iRobot Corp. | 686,472 | 25,228 | |||
Rent-A-Center Inc. | 1,268,386 | 24,670 | ||||
Qurate Retail Inc. Class A | 8,501,567 | 24,399 | ||||
* | Brinker International Inc. | 1,105,888 | 24,363 | |||
* | PowerSchool Holdings Inc. Class A | 1,999,361 | 24,092 | |||
1 | Dillard's Inc. Class A | 108,067 | 23,836 | |||
1 | Krispy Kreme Inc. | 1,688,408 | 22,962 | |||
* | PROG Holdings Inc. | 1,363,784 | 22,502 | |||
* | iHeartMedia Inc. Class A | 2,771,192 | 21,865 | |||
Sinclair Broadcast Group Inc. Class A | 1,066,047 | 21,747 | ||||
* | Cavco Industries Inc. | 110,832 | 21,722 | |||
* | Abercrombie & Fitch Co. Class A | 1,272,442 | 21,530 | |||
Matthews International Corp. Class A | 747,900 | 21,442 | ||||
Buckle Inc. | 762,574 | 21,116 | ||||
* | G-III Apparel Group Ltd. | 1,033,581 | 20,909 |
Shares | Market Value• ($000) | |||||
* | Mister Car Wash Inc. | 1,919,707 | 20,886 | |||
* | American Axle & Manufacturing Holdings Inc. | 2,756,620 | 20,757 | |||
*,1 | ContextLogic Inc. Class A | 12,854,535 | 20,567 | |||
1 | Camping World Holdings Inc. Class A | 946,902 | 20,444 | |||
Steelcase Inc. Class A | 1,866,158 | 20,024 | ||||
* | AMC Networks Inc. Class A | 676,426 | 19,697 | |||
* | 2U Inc. | 1,857,113 | 19,444 | |||
* | EW Scripps Co. Class A | 1,542,670 | 19,237 | |||
Designer Brands Inc. Class A | 1,467,426 | 19,165 | ||||
Interface Inc. Class A | 1,516,743 | 19,020 | ||||
* | Vista Outdoor Inc. | 676,667 | 18,879 | |||
* | ACV Auctions Inc. Class A | 2,840,695 | 18,578 | |||
* | Hawaiian Holdings Inc. | 1,248,435 | 17,865 | |||
Sonic Automotive Inc. Class A | 486,177 | 17,809 | ||||
* | GoPro Inc. Class A | 3,146,299 | 17,399 | |||
* | Cardlytics Inc. | 777,766 | 17,352 | |||
* | Sleep Number Corp. | 532,386 | 16,477 | |||
* | Cars.com Inc. | 1,674,182 | 15,788 | |||
* | Life Time Group Holdings Inc. | 1,218,972 | 15,700 | |||
* | Sun Country Airlines Holdings Inc. | 810,694 | 14,868 | |||
Scholastic Corp. | 411,774 | 14,811 | ||||
* | Udemy Inc. | 1,407,984 | 14,375 | |||
1 | Big Lots Inc. | 685,091 | 14,366 | |||
1 | Guess? Inc. | 829,486 | 14,143 | |||
* | Lions Gate Entertainment Corp. Class A | 1,413,487 | 13,160 | |||
*,1 | Corsair Gaming Inc. | 970,907 | 12,748 | |||
* | BJ's Restaurants Inc. | 568,918 | 12,334 | |||
Caleres Inc. | 457,579 | 12,007 | ||||
Aaron's Co. Inc. | 733,509 | 10,673 | ||||
* | Zumiez Inc. | 391,455 | 10,178 | |||
* | Central Garden & Pet Co. | 228,929 | 9,711 | |||
* | Clear Channel Outdoor Holdings Inc. | 9,072,886 | 9,708 | |||
*,1 | Allbirds Inc. Class A | 2,361,265 | 9,280 | |||
* | Stitch Fix Inc. Class A | 1,877,596 | 9,275 | |||
* | WW International Inc. | 1,342,073 | 8,576 | |||
* | Sciplay Corp. Class A | 594,235 | 8,301 | |||
*,1 | Portillo's Inc. Class A | 504,517 | 8,249 | |||
* | Genesco Inc. | 163,010 | 8,136 | |||
*,1 | Bed Bath & Beyond Inc. | 1,611,590 | 8,010 |
Shares | Market Value• ($000) | |||||
*,1 | Vizio Holding Corp. Class A | 1,165,088 | 7,946 | |||
*,1 | Frontier Group Holdings Inc. | 827,695 | 7,755 | |||
Global Industrial Co. | 229,463 | 7,749 | ||||
* | Integral Ad Science Holding Corp. | 780,125 | 7,747 | |||
Smith & Wesson Brands Inc. | 577,539 | 7,583 | ||||
* | Latham Group Inc. | 1,071,189 | 7,423 | |||
* | Angi Inc. Class A | 1,601,876 | 7,337 | |||
*,1 | Canoo Inc. | 3,948,034 | 7,304 | |||
*,1 | Poshmark Inc. Class A | 677,110 | 6,846 | |||
* | Children's Place Inc. | 160,953 | 6,264 | |||
* | Rush Street Interactive Inc. | 1,298,976 | 6,066 | |||
*,1 | Dream Finders Homes Inc. Class A | 499,013 | 5,309 | |||
* | Selectquote Inc. | 1,593,304 | 3,951 | |||
1 | Weber Inc. Class A | 535,811 | 3,863 | |||
*,1 | Cricut Inc. Class A | 606,815 | 3,726 | |||
* | Quotient Technology Inc. | 1,082,439 | 3,215 | |||
*,1 | Traeger Inc. | 742,910 | 3,157 | |||
*,1 | Bowlero Corp. | 268,724 | 2,846 | |||
* | RealReal Inc. | 1,016,330 | 2,531 | |||
* | Arhaus Inc. Class A | 534,161 | 2,404 | |||
Rush Enterprises Inc. Class B | 48,187 | 2,391 | ||||
*,1 | Solo Brands Inc. Class A | 493,496 | 2,004 | |||
*,1 | ThredUp Inc. Class A | 703,515 | 1,759 | |||
* | Brilliant Earth Group Inc. Class A | 238,057 | 1,131 | |||
15,226,840 | ||||||
Consumer Staples (3.4%) | ||||||
Bunge Ltd. | 3,834,578 | 347,758 | ||||
* | Darling Ingredients Inc. | 4,081,382 | 244,067 | |||
* | Performance Food Group Co. | 3,916,561 | 180,083 | |||
* | US Foods Holding Corp. | 5,656,716 | 173,548 | |||
Casey's General Stores Inc. | 937,677 | 173,451 | ||||
Ingredion Inc. | 1,589,251 | 140,108 | ||||
Lamb Weston Holdings Inc. | 1,824,860 | 130,404 | ||||
Molson Coors Beverage Co. Class B | 2,280,621 | 124,317 | ||||
Flowers Foods Inc. | 4,554,256 | 119,868 | ||||
Sanderson Farms Inc. | 536,453 | 115,622 | ||||
* | Post Holdings Inc. | 1,381,388 | 113,757 | |||
* | Grocery Outlet Holding Corp. | 2,191,270 | 93,414 |
Shares | Market Value• ($000) | |||||
Spectrum Brands Holdings Inc. | 1,029,289 | 84,422 | ||||
* | Simply Good Foods Co. | 2,155,661 | 81,419 | |||
* | Hostess Brands Inc. Class A | 3,490,590 | 74,035 | |||
* | BellRing Brands Inc. | 2,930,111 | 72,930 | |||
* | Boston Beer Co. Inc. Class A | 232,304 | 70,381 | |||
* | Sprouts Farmers Market Inc. | 2,765,668 | 70,027 | |||
WD-40 Co. | 344,851 | 69,439 | ||||
* | Celsius Holdings Inc. | 1,048,071 | 68,397 | |||
Coca-Cola Consolidated Inc. | 116,409 | 65,643 | ||||
Lancaster Colony Corp. | 485,886 | 62,572 | ||||
* | Freshpet Inc. | 1,145,945 | 59,463 | |||
* | TreeHouse Foods Inc. | 1,415,268 | 59,187 | |||
* | United Natural Foods Inc. | 1,472,608 | 58,021 | |||
Medifast Inc. | 291,128 | 52,552 | ||||
Nu Skin Enterprises Inc. Class A | 1,203,400 | 52,107 | ||||
* | Hain Celestial Group Inc. | 2,152,271 | 51,095 | |||
Energizer Holdings Inc. | 1,799,220 | 51,008 | ||||
* | Herbalife Nutrition Ltd. | 2,461,115 | 50,330 | |||
Cal-Maine Foods Inc. | 1,003,628 | 49,589 | ||||
Edgewell Personal Care Co. | 1,331,702 | 45,970 | ||||
1 | B&G Foods Inc. | 1,739,304 | 41,361 | |||
J & J Snack Foods Corp. | 292,387 | 40,835 | ||||
* | Pilgrim's Pride Corp. | 1,212,234 | 37,858 | |||
Reynolds Consumer Products Inc. | 1,321,206 | 36,029 | ||||
Universal Corp. | 586,864 | 35,505 | ||||
Vector Group Ltd. | 3,347,542 | 35,149 | ||||
*,1 | Beyond Meat Inc. | 1,446,808 | 34,637 | |||
* | Beauty Health Co. | 2,473,783 | 31,813 | |||
Weis Markets Inc. | 409,507 | 30,525 | ||||
National Beverage Corp. | 590,911 | 28,919 | ||||
Fresh Del Monte Produce Inc. | 968,297 | 28,594 | ||||
Andersons Inc. | 771,410 | 25,449 | ||||
Utz Brands Inc. | 1,734,716 | 23,974 | ||||
Seaboard Corp. | 5,861 | 22,756 | ||||
* | USANA Health Sciences Inc. | 290,810 | 21,043 | |||
* | Duckhorn Portfolio Inc. | 879,233 | 18,517 | |||
ACCO Brands Corp. | 2,343,481 | 15,303 |
Shares | Market Value• ($000) | |||||
Tootsie Roll Industries Inc. | 367,137 | 12,978 | ||||
* | Sovos Brands Inc. | 646,105 | 10,254 | |||
*,1 | Rite Aid Corp. | 664,397 | 4,478 | |||
* | Honest Co. Inc. | 630,658 | 1,842 | |||
* | Vital Farms Inc. | 202,288 | 1,770 | |||
*,1 | BRC Inc. Class A | 167,223 | 1,365 | |||
3,745,938 | ||||||
Energy (5.4%) | ||||||
Targa Resources Corp. | 5,762,446 | 343,845 | ||||
APA Corp. | 8,549,236 | 298,368 | ||||
EQT Corp. | 8,404,415 | 289,112 | ||||
Ovintiv Inc. | 6,523,669 | 288,281 | ||||
Chesapeake Energy Corp. | 3,215,995 | 260,817 | ||||
Texas Pacific Land Corp. | 156,485 | 232,853 | ||||
* | Antero Resources Corp. | 7,075,422 | 216,862 | |||
Marathon Oil Corp. | 8,946,549 | 201,118 | ||||
* | Southwestern Energy Co. | 28,204,419 | 176,278 | |||
NOV Inc. | 9,924,303 | 167,820 | ||||
HF Sinclair Corp. | 3,666,891 | 165,597 | ||||
* | First Solar Inc. | 2,424,019 | 165,148 | |||
* | Range Resources Corp. | 6,476,992 | 160,306 | |||
PDC Energy Inc. | 2,508,879 | 154,572 | ||||
Matador Resources Co. | 2,836,279 | 132,142 | ||||
DT Midstream Inc. | 2,444,221 | 119,816 | ||||
Murphy Oil Corp. | 3,729,935 | 112,607 | ||||
SM Energy Co. | 3,079,653 | 105,293 | ||||
Helmerich & Payne Inc. | 2,392,078 | 103,003 | ||||
ChampionX Corp. | 5,140,984 | 102,049 | ||||
Magnolia Oil & Gas Corp. Class A | 4,353,589 | 91,382 | ||||
*,1 | ChargePoint Holdings Inc. | 6,368,380 | 87,183 | |||
Patterson-UTI Energy Inc. | 5,461,123 | 86,067 | ||||
California Resources Corp. | 1,963,078 | 75,578 | ||||
* | PBF Energy Inc. Class A | 2,591,798 | 75,214 | |||
* | Denbury Inc. | 1,207,383 | 72,431 | |||
Antero Midstream Corp. | 7,861,940 | 71,151 | ||||
Civitas Resources Inc. | 1,288,925 | 67,398 | ||||
Whiting Petroleum Corp. | 990,179 | 67,362 | ||||
Equitrans Midstream Corp. | 10,372,671 | 65,970 | ||||
* | CNX Resources Corp. | 3,939,035 | 64,837 | |||
* | Peabody Energy Corp. | 2,909,404 | 62,058 | |||
Cactus Inc. Class A | 1,450,256 | 58,402 |
Shares | Market Value• ($000) | |||||
Arcosa Inc. | 1,220,415 | 56,664 | ||||
1 | Arch Resources Inc. | 390,961 | 55,943 | |||
Chord Energy Corp. | 443,336 | 53,932 | ||||
New Fortress Energy Inc. Class A | 1,309,149 | 51,803 | ||||
* | NexTier Oilfield Solutions Inc. | 5,235,485 | 49,789 | |||
* | Transocean Ltd. | 14,654,227 | 48,799 | |||
* | Delek US Holdings Inc. | 1,785,424 | 46,135 | |||
* | Liberty Energy Inc. Class A | 3,537,877 | 45,143 | |||
Enviva Inc. | 755,383 | 43,223 | ||||
* | Callon Petroleum Co. | 1,089,688 | 42,716 | |||
Warrior Met Coal Inc. | 1,306,376 | 39,988 | ||||
* | Array Technologies Inc. | 3,601,810 | 39,656 | |||
* | Ameresco Inc. Class A | 767,738 | 34,978 | |||
*,1 | SunPower Corp. | 2,194,103 | 34,689 | |||
*,1 | FuelCell Energy Inc. | 8,809,999 | 33,037 | |||
World Fuel Services Corp. | 1,510,405 | 30,903 | ||||
Archrock Inc. | 3,715,296 | 30,725 | ||||
* | NOW Inc. | 2,790,924 | 27,295 | |||
* | Oceaneering International Inc. | 2,527,560 | 26,994 | |||
* | Stem Inc. | 3,702,519 | 26,510 | |||
Alpha Metallurgical Resources Inc. | 201,013 | 25,957 | ||||
* | Shoals Technologies Group Inc. Class A | 1,559,668 | 25,703 | |||
CVR Energy Inc. | 763,525 | 25,578 | ||||
Core Laboratories NV | 1,167,942 | 23,137 | ||||
* | ProPetro Holding Corp. | 2,253,539 | 22,535 | |||
* | Dril-Quip Inc. | 868,316 | 22,403 | |||
* | MRC Global Inc. | 2,012,476 | 20,044 | |||
* | Tellurian Inc. | 6,452,625 | 19,229 | |||
* | RPC Inc. | 1,935,917 | 13,377 | |||
* | Comstock Resources Inc. | 1,028,894 | 12,429 | |||
*,1 | EVgo Inc. | 1,754,242 | 10,543 | |||
*,1 | Fluence Energy Inc. Class A | 904,309 | 8,573 | |||
*,1 | ProFrac Holding Corp. Class A | 398,460 | 7,296 | |||
* | Helix Energy Solutions Group Inc. | 1,868,038 | 5,791 | |||
Kinetik Holdings Inc. Class A | 167,823 | 5,729 | ||||
1 | Crescent Energy Co. Class A | 395,434 | 4,935 | |||
* | Denbury Inc. Warrants Exp. 9/18/23 | 2 | — | |||
5,813,101 |
Shares | Market Value• ($000) | |||||
Financials (15.2%) | ||||||
LPL Financial Holdings Inc. | 1,919,875 | 354,179 | ||||
Brown & Brown Inc. | 5,707,346 | 332,967 | ||||
First Horizon Corp. | 13,521,042 | 295,570 | ||||
American Financial Group Inc. | 1,828,127 | 253,762 | ||||
Comerica Inc. | 3,305,586 | 242,564 | ||||
Assurant Inc. | 1,367,127 | 236,308 | ||||
Signature Bank | 1,298,861 | 232,769 | ||||
East West Bancorp Inc. | 3,586,925 | 232,433 | ||||
Carlyle Group Inc. | 6,399,315 | 202,602 | ||||
Reinsurance Group of America Inc. | 1,692,641 | 198,530 | ||||
First Citizens BancShares Inc. Class A | 303,249 | 198,258 | ||||
Zions Bancorp NA | 3,826,230 | 194,755 | ||||
Webster Financial Corp. | 4,501,439 | 189,736 | ||||
Invesco Ltd. | 11,501,778 | 185,524 | ||||
Western Alliance Bancorp | 2,599,964 | 183,557 | ||||
Commerce Bancshares Inc. | 2,746,713 | 180,322 | ||||
RenaissanceRe Holdings Ltd. | 1,116,581 | 174,600 | ||||
Cullen/Frost Bankers Inc. | 1,458,155 | 169,802 | ||||
SEI Investments Co. | 3,125,062 | 168,816 | ||||
Old Republic International Corp. | 7,013,753 | 156,828 | ||||
Morningstar Inc. | 647,884 | 156,678 | ||||
Starwood Property Trust Inc. | 7,365,096 | 153,857 | ||||
Voya Financial Inc. | 2,583,404 | 153,790 | ||||
Prosperity Bancshares Inc. | 2,214,403 | 151,177 | ||||
SouthState Corp. | 1,907,681 | 147,178 | ||||
Unum Group | 4,319,612 | 146,953 | ||||
AGNC Investment Corp. | 13,219,664 | 146,342 | ||||
Stifel Financial Corp. | 2,558,931 | 143,351 | ||||
First American Financial Corp. | 2,578,609 | 136,460 | ||||
Popular Inc. | 1,766,073 | 135,864 | ||||
* | Alleghany Corp. | 161,584 | 134,616 | |||
First Financial Bankshares Inc. | 3,425,669 | 134,526 | ||||
Glacier Bancorp Inc. | 2,798,058 | 132,684 | ||||
Pinnacle Financial Partners Inc. | 1,834,195 | 132,631 | ||||
Selective Insurance Group Inc. | 1,524,662 | 132,554 | ||||
RLI Corp. | 1,087,428 | 126,783 |
Shares | Market Value• ($000) | |||||
Kinsale Capital Group Inc. | 549,868 | 126,272 | ||||
Synovus Financial Corp. | 3,490,438 | 125,830 | ||||
*,1 | Robinhood Markets Inc. Class A | 15,036,231 | 123,598 | |||
Erie Indemnity Co. Class A | 642,051 | 123,396 | ||||
Wintrust Financial Corp. | 1,523,586 | 122,115 | ||||
United Bankshares Inc. | 3,419,132 | 119,909 | ||||
Hanover Insurance Group Inc. | 809,267 | 118,355 | ||||
Primerica Inc. | 983,319 | 117,693 | ||||
Jefferies Financial Group Inc. | 4,237,136 | 117,030 | ||||
Cadence Bank | 4,866,086 | 114,256 | ||||
Affiliated Managers Group Inc. | 977,470 | 113,973 | ||||
Valley National Bancorp | 10,878,109 | 113,241 | ||||
Blackstone Mortgage Trust Inc. Class A | 4,088,228 | 113,121 | ||||
Axis Capital Holdings Ltd. | 1,939,840 | 110,745 | ||||
New Residential Investment Corp. | 11,798,565 | 109,963 | ||||
Old National Bancorp | 7,409,108 | 109,581 | ||||
Globe Life Inc. | 1,121,671 | 109,329 | ||||
SLM Corp. | 6,803,979 | 108,455 | ||||
Bank OZK | 2,885,665 | 108,299 | ||||
OneMain Holdings Inc. | 2,849,457 | 106,513 | ||||
1 | Blue Owl Capital Inc. Class A | 10,573,836 | 106,056 | |||
Home BancShares Inc. | 4,937,310 | 102,548 | ||||
New York Community Bancorp Inc. | 11,216,136 | 102,403 | ||||
Houlihan Lokey Inc. Class A | 1,279,946 | 101,026 | ||||
Essent Group Ltd. | 2,581,803 | 100,432 | ||||
MGIC Investment Corp. | 7,828,772 | 98,643 | ||||
ServisFirst Bancshares Inc. | 1,234,561 | 97,432 | ||||
FNB Corp. | 8,881,557 | 96,454 | ||||
Hancock Whitney Corp. | 2,074,371 | 91,957 | ||||
Umpqua Holdings Corp. | 5,481,127 | 91,918 | ||||
Lincoln National Corp. | 1,956,153 | 91,489 | ||||
*,1 | SoFi Technologies Inc. | 17,358,221 | 91,478 | |||
First Interstate BancSystem Inc. Class A | 2,352,879 | 89,668 |
Shares | Market Value• ($000) | |||||
Independent Bank Corp. (Massachusetts) | 1,123,202 | 89,216 | ||||
White Mountains Insurance Group Ltd. | 71,547 | 89,157 | ||||
1 | Lazard Ltd. Class A | 2,708,787 | 87,792 | |||
Community Bank System Inc. | 1,360,172 | 86,072 | ||||
Assured Guaranty Ltd. | 1,539,775 | 85,904 | ||||
Radian Group Inc. | 4,367,659 | 85,824 | ||||
UMB Financial Corp. | 978,776 | 84,273 | ||||
CVB Financial Corp. | 3,386,240 | 84,013 | ||||
* | Ryan Specialty Holdings Inc. Class A | 2,090,935 | 81,944 | |||
Evercore Inc. Class A | 872,660 | 81,690 | ||||
United Community Banks Inc. | 2,676,955 | 80,817 | ||||
Janus Henderson Group plc | 3,393,814 | 79,789 | ||||
FirstCash Holdings Inc. | 1,139,687 | 79,220 | ||||
PacWest Bancorp | 2,970,826 | 79,202 | ||||
*,1 | Credit Acceptance Corp. | 166,077 | 78,623 | |||
* | Brighthouse Financial Inc. | 1,893,308 | 77,663 | |||
Kemper Corp. | 1,609,381 | 77,089 | ||||
Eastern Bankshares Inc. | 4,155,469 | 76,710 | ||||
Walker & Dunlop Inc. | 794,230 | 76,516 | ||||
Bank of Hawaii Corp. | 1,017,162 | 75,677 | ||||
BankUnited Inc. | 2,066,336 | 73,500 | ||||
First Hawaiian Inc. | 3,232,223 | 73,404 | ||||
Cathay General Bancorp | 1,800,144 | 70,476 | ||||
Pacific Premier Bancorp Inc. | 2,397,517 | 70,103 | ||||
Federated Hermes Inc. Class B | 2,198,039 | 69,876 | ||||
American Equity Investment Life Holding Co. | 1,882,621 | 68,847 | ||||
* | Texas Capital Bancshares Inc. | 1,280,134 | 67,386 | |||
Ameris Bancorp | 1,665,308 | 66,912 | ||||
Simmons First National Corp. Class A | 3,135,814 | 66,667 | ||||
Associated Banc-Corp | 3,597,478 | 65,690 | ||||
WSFS Financial Corp. | 1,633,495 | 65,487 | ||||
Moelis & Co. Class A | 1,639,948 | 64,532 | ||||
First Bancorp | 4,988,562 | 64,402 | ||||
* | Mr Cooper Group Inc. | 1,680,457 | 61,740 | |||
Independent Bank Group Inc. | 907,443 | 61,624 | ||||
Atlantic Union Bankshares Corp. | 1,797,336 | 60,966 |
Shares | Market Value• ($000) | |||||
Virtu Financial Inc. Class A | 2,526,522 | 59,146 | ||||
Fulton Financial Corp. | 4,002,678 | 57,839 | ||||
* | Enstar Group Ltd. | 270,074 | 57,790 | |||
Artisan Partners Asset Management Inc. Class A | 1,618,977 | 57,587 | ||||
Columbia Banking System Inc. | 1,986,364 | 56,909 | ||||
* | Trupanion Inc. | 926,234 | 55,815 | |||
International Bancshares Corp. | 1,353,876 | 54,263 | ||||
*,1 | Upstart Holdings Inc. | 1,712,719 | 54,156 | |||
Hamilton Lane Inc. Class A | 798,679 | 53,655 | ||||
First Merchants Corp. | 1,500,197 | 53,437 | ||||
CNO Financial Group Inc. | 2,926,353 | 52,938 | ||||
Chimera Investment Corp. | 5,975,766 | 52,706 | ||||
Jackson Financial Inc. Class A | 1,960,725 | 52,449 | ||||
BOK Financial Corp. | 686,975 | 51,922 | ||||
Arbor Realty Trust Inc. | 3,846,847 | 50,432 | ||||
Navient Corp. | 3,545,973 | 49,608 | ||||
Washington Federal Inc. | 1,648,326 | 49,483 | ||||
Banner Corp. | 867,200 | 48,745 | ||||
* | Axos Financial Inc. | 1,355,143 | 48,582 | |||
Piper Sandler Cos. | 426,788 | 48,381 | ||||
Towne Bank | 1,740,017 | 47,241 | ||||
WesBanco Inc. | 1,443,737 | 45,781 | ||||
* | Genworth Financial Inc. Class A | 12,910,484 | 45,574 | |||
Flagstar Bancorp Inc. | 1,276,899 | 45,266 | ||||
Park National Corp. | 368,338 | 44,661 | ||||
First Financial Bancorp | 2,258,340 | 43,812 | ||||
BancFirst Corp. | 454,398 | 43,490 | ||||
Two Harbors Investment Corp. | 8,665,610 | 43,155 | ||||
* | Focus Financial Partners Inc. Class A | 1,236,607 | 42,119 | |||
Trustmark Corp. | 1,394,324 | 40,700 | ||||
* | Silvergate Capital Corp. Class A | 758,941 | 40,626 | |||
Horace Mann Educators Corp. | 1,044,737 | 40,097 | ||||
Hope Bancorp Inc. | 2,884,861 | 39,926 | ||||
PJT Partners Inc. Class A | 559,244 | 39,304 | ||||
Cohen & Steers Inc. | 616,209 | 39,185 | ||||
Northwest Bancshares Inc. | 3,035,688 | 38,857 | ||||
NBT Bancorp Inc. | 1,025,627 | 38,553 | ||||
Renasant Corp. | 1,337,438 | 38,532 | ||||
Eagle Bancorp Inc. | 809,985 | 38,401 |
Shares | Market Value• ($000) | |||||
Provident Financial Services Inc. | 1,716,635 | 38,212 | ||||
* | Cannae Holdings Inc. | 1,937,005 | 37,462 | |||
Apollo Commercial Real Estate Finance Inc. | 3,533,402 | 36,889 | ||||
Westamerica Bancorp | 643,776 | 35,833 | ||||
* | PRA Group Inc. | 953,522 | 34,670 | |||
Safety Insurance Group Inc. | 352,303 | 34,209 | ||||
* | BRP Group Inc. Class A | 1,415,500 | 34,184 | |||
StepStone Group Inc. Class A | 1,305,857 | 33,991 | ||||
* | Encore Capital Group Inc. | 582,925 | 33,676 | |||
1 | Hilltop Holdings Inc. | 1,223,490 | 32,618 | |||
Argo Group International Holdings Ltd. | 881,611 | 32,496 | ||||
ProAssurance Corp. | 1,364,463 | 32,242 | ||||
1 | Compass Diversified Holdings | 1,504,349 | 32,223 | |||
PennyMac Mortgage Investment Trust | 2,313,511 | 31,996 | ||||
OFG Bancorp | 1,227,401 | 31,176 | ||||
Mercury General Corp. | 696,964 | 30,876 | ||||
Virtus Investment Partners Inc. | 178,981 | 30,609 | ||||
Capitol Federal Financial Inc. | 3,316,339 | 30,444 | ||||
Ladder Capital Corp. | 2,874,754 | 30,300 | ||||
* | LendingClub Corp. | 2,589,109 | 30,267 | |||
First Commonwealth Financial Corp. | 2,253,782 | 30,246 | ||||
PennyMac Financial Services Inc. | 688,279 | 30,085 | ||||
City Holding Co. | 357,777 | 28,579 | ||||
1 | Franklin BSP Realty Trust Inc. | 2,105,007 | 28,375 | |||
Employers Holdings Inc. | 671,622 | 28,134 | ||||
BGC Partners Inc. Class A | 8,307,017 | 27,995 | ||||
National Bank Holdings Corp. Class A | 730,462 | 27,955 | ||||
MFA Financial Inc. | 2,578,464 | 27,718 | ||||
* | Open Lending Corp. Class A | 2,704,496 | 27,667 | |||
iStar Inc. | 1,984,812 | 27,212 | ||||
Berkshire Hills Bancorp Inc. | 1,074,331 | 26,611 | ||||
S&T Bancorp Inc. | 957,492 | 26,264 | ||||
Brookline Bancorp Inc. | 1,877,050 | 24,984 | ||||
Redwood Trust Inc. | 3,062,087 | 23,609 | ||||
TPG Inc. Class A | 982,884 | 23,501 |
Shares | Market Value• ($000) | |||||
KKR Real Estate Finance Trust Inc. | 1,262,310 | 22,027 | ||||
Broadmark Realty Capital Inc. | 3,237,374 | 21,723 | ||||
* | Columbia Financial Inc. | 990,354 | 21,600 | |||
Goosehead Insurance Inc. Class A | 465,392 | 21,254 | ||||
Tompkins Financial Corp. | 291,237 | 20,998 | ||||
United Fire Group Inc. | 609,252 | 20,855 | ||||
* | Blucora Inc. | 1,129,022 | 20,842 | |||
1 | Claros Mortgage Trust Inc. | 1,230,220 | 20,606 | |||
Nelnet Inc. Class A | 237,786 | 20,271 | ||||
TFS Financial Corp. | 1,445,034 | 19,840 | ||||
* | Palomar Holdings Inc. | 302,518 | 19,482 | |||
* | Triumph Bancorp Inc. | 303,234 | 18,970 | |||
Heartland Financial USA Inc. | 452,260 | 18,787 | ||||
1 | ARMOUR Residential REIT Inc. | 2,643,018 | 18,607 | |||
*,1 | Lemonade Inc. | 1,018,142 | 18,591 | |||
Kearny Financial Corp. | 1,589,420 | 17,658 | ||||
Enact Holdings Inc. | 819,788 | 17,609 | ||||
WisdomTree Investments Inc. | 3,165,662 | 16,050 | ||||
Northfield Bancorp Inc. | 1,131,852 | 14,748 | ||||
Central Pacific Financial Corp. | 679,007 | 14,565 | ||||
TPG RE Finance Trust Inc. | 1,578,731 | 14,224 | ||||
Live Oak Bancshares Inc. | 417,707 | 14,156 | ||||
*,1 | Marathon Digital Holdings Inc. | 2,544,263 | 13,586 | |||
*,1 | Oscar Health Inc. Class A | 3,115,113 | 13,239 | |||
* | Ambac Financial Group Inc. | 1,133,305 | 12,863 | |||
*,1 | Riot Blockchain Inc. | 3,054,655 | 12,799 | |||
* | SiriusPoint Ltd. | 2,302,438 | 12,479 | |||
1 | Invesco Mortgage Capital Inc. | 848,836 | 12,461 | |||
* | World Acceptance Corp. | 107,671 | 12,085 | |||
* | LendingTree Inc. | 274,120 | 12,012 | |||
BrightSpire Capital Inc. Class A | 1,473,420 | 11,124 | ||||
* | AssetMark Financial Holdings Inc. | 550,063 | 10,325 | |||
1 | P10 Inc. Class A | 899,514 | 10,003 | |||
National Western Life Group Inc. Class A | 48,627 | 9,857 | ||||
Victory Capital Holdings Inc. Class A | 347,638 | 8,378 |
Shares | Market Value• ($000) | |||||
1 | UWM Holdings Corp. Class A | 2,105,887 | 7,455 | |||
Granite Point Mortgage Trust Inc. | 706,305 | 6,759 | ||||
1 | GCM Grosvenor Inc. Class A | 952,754 | 6,526 | |||
* | Clearwater Analytics Holdings Inc. Class A | 419,912 | 5,056 | |||
*,1 | Hagerty Inc. Class A | 333,803 | 3,835 | |||
*,1 | Bakkt Holdings Inc. | 1,423,074 | 2,988 | |||
Associated Capital Group Inc. Class A | 43,845 | 1,571 | ||||
loanDepot Inc. Class A | 921,531 | 1,327 | ||||
Goldman Sachs Group Inc. | 1 | — | ||||
16,465,929 | ||||||
Health Care (11.4%) | ||||||
* | Molina Healthcare Inc. | 1,483,520 | 414,807 | |||
Bio-Techne Corp. | 991,378 | 343,651 | ||||
* | United Therapeutics Corp. | 1,024,243 | 241,353 | |||
* | Neurocrine Biosciences Inc. | 2,413,826 | 235,300 | |||
* | Jazz Pharmaceuticals plc | 1,495,405 | 233,298 | |||
* | Repligen Corp. | 1,400,741 | 227,480 | |||
Organon & Co. | 6,407,622 | 216,257 | ||||
* | Syneos Health Inc. | 2,591,764 | 185,778 | |||
Chemed Corp. | 378,277 | 177,559 | ||||
* | Exelixis Inc. | 8,098,835 | 168,618 | |||
Bruker Corp. | 2,639,659 | 165,665 | ||||
* | Masimo Corp. | 1,262,266 | 164,940 | |||
* | Shockwave Medical Inc. | 859,179 | 164,249 | |||
* | Envista Holdings Corp. | 4,109,298 | 158,372 | |||
* | Sarepta Therapeutics Inc. | 2,098,922 | 157,335 | |||
* | Novocure Ltd. | 2,246,109 | 156,105 | |||
* | Acadia Healthcare Co. Inc. | 2,287,376 | 154,695 | |||
* | Halozyme Therapeutics Inc. | 3,483,175 | 153,260 | |||
* | Tenet Healthcare Corp. | 2,722,339 | 143,086 | |||
Encompass Health Corp. | 2,522,132 | 141,366 | ||||
Perrigo Co. plc | 3,396,033 | 137,777 | ||||
* | Charles River Laboratories International Inc. | 641,971 | 137,363 | |||
* | HealthEquity Inc. | 2,131,725 | 130,867 | |||
* | Inspire Medical Systems Inc. | 697,013 | 127,323 | |||
* | Omnicell Inc. | 1,116,803 | 127,036 | |||
* | Alkermes plc | 4,128,295 | 122,982 |
Shares | Market Value• ($000) | |||||
* | Intra-Cellular Therapies Inc. | 2,144,685 | 122,419 | |||
* | LHC Group Inc. | 744,949 | 116,018 | |||
* | QuidelOrtho Corp. | 1,183,951 | 115,056 | |||
* | Ionis Pharmaceuticals Inc. | 3,044,141 | 112,694 | |||
* | Penumbra Inc. | 904,429 | 112,620 | |||
* | Globus Medical Inc. Class A | 2,004,118 | 112,511 | |||
* | Lantheus Holdings Inc. | 1,647,546 | 108,787 | |||
* | Apellis Pharmaceuticals Inc. | 2,286,170 | 103,381 | |||
* | Medpace Holdings Inc. | 680,047 | 101,783 | |||
*,1 | Novavax Inc. | 1,973,808 | 101,513 | |||
* | Option Care Health Inc. | 3,639,446 | 101,140 | |||
Premier Inc. Class A | 2,831,238 | 101,019 | ||||
* | Ultragenyx Pharmaceutical Inc. | 1,676,564 | 100,024 | |||
* | Guardant Health Inc. | 2,446,778 | 98,703 | |||
Ensign Group Inc. | 1,331,335 | 97,813 | ||||
* | 10X Genomics Inc. Class A | 2,135,592 | 96,636 | |||
* | Integra LifeSciences Holdings Corp. | 1,786,194 | 96,508 | |||
* | Tandem Diabetes Care Inc. | 1,616,518 | 95,682 | |||
* | ICU Medical Inc. | 573,861 | 94,337 | |||
* | Intellia Therapeutics Inc. | 1,724,548 | 89,263 | |||
* | Arrowhead Pharmaceuticals Inc. | 2,533,290 | 89,197 | |||
* | Amedisys Inc. | 823,141 | 86,529 | |||
* | STAAR Surgical Co. | 1,208,241 | 85,701 | |||
* | Mirati Therapeutics Inc. | 1,261,478 | 84,683 | |||
* | Haemonetics Corp. | 1,296,215 | 84,487 | |||
* | Cytokinetics Inc. | 2,054,393 | 80,717 | |||
* | Turning Point Therapeutics Inc. | 1,067,063 | 80,296 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 2,826,240 | 80,293 | |||
* | Merit Medical Systems Inc. | 1,433,023 | 77,770 | |||
* | Natera Inc. | 2,187,883 | 77,539 | |||
* | iRhythm Technologies Inc. | 715,027 | 77,244 | |||
* | Blueprint Medicines Corp. | 1,502,932 | 75,913 | |||
* | Amicus Therapeutics Inc. | 7,067,673 | 75,907 | |||
* | Prestige Consumer Healthcare Inc. | 1,269,038 | 74,619 | |||
*,1 | Doximity Inc. Class A | 2,129,604 | 74,153 | |||
* | R1 RCM Inc. | 3,533,133 | 74,054 |
Shares | Market Value• ($000) | |||||
* | Inari Medical Inc. | 1,074,373 | 73,047 | |||
* | PTC Therapeutics Inc. | 1,799,344 | 72,082 | |||
CONMED Corp. | 746,663 | 71,500 | ||||
* | Karuna Therapeutics Inc. | 565,055 | 71,485 | |||
Patterson Cos. Inc. | 2,221,516 | 67,312 | ||||
*,1 | Neogen Corp. | 2,720,448 | 65,536 | |||
* | NuVasive Inc. | 1,314,198 | 64,606 | |||
* | Evolent Health Inc. Class A | 2,082,733 | 63,961 | |||
* | Denali Therapeutics Inc. | 2,169,666 | 63,853 | |||
* | Enovis Corp. | 1,160,890 | 63,849 | |||
* | Pacira BioSciences Inc. | 1,088,882 | 63,482 | |||
Select Medical Holdings Corp. | 2,641,940 | 62,403 | ||||
* | Teladoc Health Inc. | 1,829,980 | 60,774 | |||
* | Certara Inc. | 2,828,625 | 60,702 | |||
* | Insmed Inc. | 3,012,276 | 59,402 | |||
*,1 | Ginkgo Bioworks Holdings Inc. | 24,885,076 | 59,226 | |||
* | Integer Holdings Corp. | 835,186 | 59,014 | |||
Owens & Minor Inc. | 1,828,760 | 57,515 | ||||
* | agilon health Inc. | 2,570,852 | 56,122 | |||
*,1 | Beam Therapeutics Inc. | 1,417,760 | 54,881 | |||
*,1 | Global Blood Therapeutics Inc. | 1,642,360 | 52,473 | |||
* | Fate Therapeutics Inc. | 2,088,415 | 51,751 | |||
* | Glaukos Corp. | 1,137,036 | 51,644 | |||
* | Corcept Therapeutics Inc. | 2,147,007 | 51,056 | |||
* | Progyny Inc. | 1,742,919 | 50,632 | |||
* | Sotera Health Co. | 2,502,938 | 49,033 | |||
*,1 | Multiplan Corp. | 8,869,634 | 48,694 | |||
* | Vir Biotechnology Inc. | 1,837,095 | 46,791 | |||
* | Pediatrix Medical Group Inc. | 2,201,331 | 46,250 | |||
* | AtriCure Inc. | 1,110,540 | 45,377 | |||
* | Arvinas Inc. | 1,073,165 | 45,170 | |||
* | Oak Street Health Inc. | 2,743,109 | 45,097 | |||
* | Twist Bioscience Corp. | 1,280,849 | 44,778 | |||
* | ACADIA Pharmaceuticals Inc. | 3,055,336 | 43,050 | |||
* | Xencor Inc. | 1,497,199 | 40,978 | |||
* | Sage Therapeutics Inc. | 1,265,040 | 40,861 | |||
* | ChemoCentryx Inc. | 1,616,822 | 40,065 | |||
* | Iovance Biotherapeutics Inc. | 3,571,777 | 39,432 | |||
* | Nevro Corp. | 889,864 | 39,003 | |||
* | Apollo Medical Holdings Inc. | 989,256 | 38,175 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 3,298,650 | 38,033 |
Shares | Market Value• ($000) | |||||
* | Supernus Pharmaceuticals Inc. | 1,278,506 | 36,974 | |||
* | Embecta Corp. | 1,458,829 | 36,938 | |||
* | Harmony Biosciences Holdings Inc. | 744,895 | 36,329 | |||
* | Ligand Pharmaceuticals Inc. | 406,132 | 36,235 | |||
* | CorVel Corp. | 244,027 | 35,938 | |||
* | Privia Health Group Inc. | 1,232,267 | 35,884 | |||
* | Veracyte Inc. | 1,801,077 | 35,841 | |||
* | Emergent BioSolutions Inc. | 1,140,214 | 35,392 | |||
* | Myriad Genetics Inc. | 1,940,119 | 35,252 | |||
* | Cerevel Therapeutics Holdings Inc. | 1,316,518 | 34,809 | |||
* | 1Life Healthcare Inc. | 4,402,247 | 34,514 | |||
* | Zentalis Pharmaceuticals Inc. | 1,219,071 | 34,256 | |||
* | Meridian Bioscience Inc. | 1,099,693 | 33,453 | |||
* | Avanos Medical Inc. | 1,191,151 | 32,566 | |||
Healthcare Services Group Inc. | 1,868,364 | 32,528 | ||||
* | Relay Therapeutics Inc. | 1,917,264 | 32,114 | |||
* | Agios Pharmaceuticals Inc. | 1,404,438 | 31,136 | |||
* | Silk Road Medical Inc. | 841,481 | 30,621 | |||
* | AdaptHealth Corp. Class A | 1,693,575 | 30,552 | |||
* | Surgery Partners Inc. | 1,022,157 | 29,561 | |||
* | OPKO Health Inc. | 11,669,096 | 29,523 | |||
* | REVOLUTION Medicines Inc. | 1,497,297 | 29,182 | |||
* | CareDx Inc. | 1,341,873 | 28,823 | |||
* | Axonics Inc. | 504,820 | 28,608 | |||
* | Axsome Therapeutics Inc. | 735,049 | 28,152 | |||
* | Allogene Therapeutics Inc. | 2,352,899 | 26,823 | |||
* | Adaptive Biotechnologies Corp. | 3,240,756 | 26,218 | |||
*,1 | PROCEPT BioRobotics Corp. | 779,974 | 25,497 | |||
* | Pacific Biosciences of California Inc. | 5,655,869 | 24,999 | |||
* | BioCryst Pharmaceuticals Inc. | 2,339,930 | 24,756 | |||
* | NeoGenomics Inc. | 3,010,923 | 24,539 | |||
*,1 | Signify Health Inc. Class A | 1,777,067 | 24,524 | |||
National HealthCare Corp. | 350,100 | 24,472 | ||||
* | REGENXBIO Inc. | 983,465 | 24,292 | |||
* | Vaxcyte Inc. | 1,115,840 | 24,281 | |||
* | Bridgebio Pharma Inc. | 2,646,068 | 24,026 |
Shares | Market Value• ($000) | |||||
* | NextGen Healthcare Inc. | 1,367,548 | 23,850 | |||
* | Innoviva Inc. | 1,595,724 | 23,553 | |||
* | Madrigal Pharmaceuticals Inc. | 327,755 | 23,461 | |||
*,1 | Warby Parker Inc. Class A | 2,042,903 | 23,003 | |||
* | FibroGen Inc. | 2,141,016 | 22,609 | |||
*,1 | Lyell Immunopharma Inc. | 3,413,153 | 22,254 | |||
* | Alignment Healthcare Inc. | 1,892,544 | 21,594 | |||
* | Varex Imaging Corp. | 1,008,809 | 21,578 | |||
* | Editas Medicine Inc. | 1,756,957 | 20,785 | |||
* | Reata Pharmaceuticals Inc. Class A | 682,650 | 20,746 | |||
* | Brookdale Senior Living Inc. | 4,493,591 | 20,401 | |||
* | American Well Corp. Class A | 4,713,239 | 20,361 | |||
* | Cytek Biosciences Inc. | 1,863,373 | 19,994 | |||
* | Health Catalyst Inc. | 1,297,992 | 18,808 | |||
* | SpringWorks Therapeutics Inc. | 747,878 | 18,413 | |||
*,1 | Clover Health Investments Corp. Class A | 8,598,797 | 18,401 | |||
*,1 | Cano Health Inc. | 4,191,702 | 18,360 | |||
* | Nektar Therapeutics | 4,736,689 | 17,999 | |||
* | Outset Medical Inc. | 1,211,053 | 17,996 | |||
* | Agiliti Inc. | 843,834 | 17,307 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 2,056,619 | 16,741 | |||
* | Arcus Biosciences Inc. | 638,296 | 16,174 | |||
* | Phreesia Inc. | 632,378 | 15,816 | |||
* | Alector Inc. | 1,483,734 | 15,075 | |||
* | Kymera Therapeutics Inc. | 729,828 | 14,370 | |||
* | Natus Medical Inc. | 437,804 | 14,347 | |||
*,1 | Invitae Corp. | 5,807,381 | 14,170 | |||
*,1 | Sana Biotechnology Inc. | 2,180,622 | 14,021 | |||
* | TG Therapeutics Inc. | 3,298,671 | 14,019 | |||
*,1 | PMV Pharmaceuticals Inc. | 977,154 | 13,924 | |||
* | Gossamer Bio Inc. | 1,646,774 | 13,784 | |||
*,1 | Hims & Hers Health Inc. | 2,983,251 | 13,514 | |||
* | Inogen Inc. | 553,194 | 13,376 | |||
* | Atea Pharmaceuticals Inc. | 1,882,517 | 13,366 | |||
* | HealthStream Inc. | 608,262 | 13,205 | |||
* | Treace Medical Concepts Inc. | 905,733 | 12,988 |
Shares | Market Value• ($000) | |||||
* | Theravance Biopharma Inc. | 1,431,304 | 12,968 | |||
*,1 | 23andMe Holding Co. | 5,085,137 | 12,611 | |||
* | Pulmonx Corp. | 842,210 | 12,397 | |||
*,1 | Nuvation Bio Inc. | 3,596,907 | 11,654 | |||
* | NGM Biopharmaceuticals Inc. | 899,808 | 11,536 | |||
* | Orthofix Medical Inc. | 480,950 | 11,322 | |||
* | Seer Inc. Class A | 1,242,436 | 11,120 | |||
* | GoodRx Holdings Inc. Class A | 1,877,776 | 11,116 | |||
* | Amneal Pharmaceuticals Inc. | 3,476,571 | 11,055 | |||
*,1 | Butterfly Network Inc. | 3,487,555 | 10,707 | |||
*,1 | LifeStance Health Group Inc. | 1,893,239 | 10,526 | |||
*,1 | Verve Therapeutics Inc. | 686,825 | 10,495 | |||
* | Cullinan Oncology Inc. | 789,202 | 10,118 | |||
Phibro Animal Health Corp. Class A | 522,293 | 9,991 | ||||
*,1 | Day One Biopharmaceuticals Inc. | 553,514 | 9,908 | |||
*,1 | AnaptysBio Inc. | 460,377 | 9,346 | |||
*,1 | Erasca Inc. | 1,558,675 | 8,682 | |||
* | Atara Biotherapeutics Inc. | 1,113,551 | 8,675 | |||
* | Rocket Pharmaceuticals Inc. | 596,134 | 8,203 | |||
*,1 | ImmunityBio Inc. | 2,062,949 | 7,674 | |||
* | NanoString Technologies Inc. | 585,292 | 7,433 | |||
* | Kiniksa Pharmaceuticals Ltd. Class A | 764,515 | 7,408 | |||
* | Stoke Therapeutics Inc. | 533,944 | 7,053 | |||
* | Sangamo Therapeutics Inc. | 1,582,628 | 6,552 | |||
*,1 | Instil Bio Inc. | 1,331,081 | 6,150 | |||
*,1 | Amylyx Pharmaceuticals Inc. | 288,167 | 5,550 | |||
* | Accolade Inc. | 674,809 | 4,994 | |||
* | Design Therapeutics Inc. | 349,785 | 4,897 | |||
*,1 | Monte Rosa Therapeutics Inc. | 469,034 | 4,536 | |||
* | Pennant Group Inc. | 326,713 | 4,185 | |||
* | Immunovant Inc. | 1,057,994 | 4,126 | |||
* | Heron Therapeutics Inc. | 1,287,092 | 3,591 | |||
*,1 | Nuvalent Inc. Class A | 242,059 | 3,282 | |||
* | Phathom Pharmaceuticals Inc. | 368,703 | 3,112 | |||
*,1 | P3 Health Partners Inc. | 806,094 | 2,999 |
Shares | Market Value• ($000) | |||||
*,1 | SmileDirectClub Inc. Class A | 2,790,203 | 2,902 | |||
* | Aveanna Healthcare Holdings Inc. | 1,207,753 | 2,730 | |||
*,1 | Innovage Holding Corp. | 528,993 | 2,317 | |||
*,1 | Adagio Therapeutics Inc. | 691,872 | 2,269 | |||
*,1 | Bright Green Corp. | 1,018,589 | 2,261 | |||
* | ALX Oncology Holdings Inc. | 226,339 | 1,831 | |||
*,1 | Absci Corp. | 523,225 | 1,737 | |||
* | Singular Genomics Systems Inc. | 451,159 | 1,723 | |||
* | Allovir Inc. | 368,856 | 1,439 | |||
* | Endo International plc | 2,582,105 | 1,202 | |||
* | Praxis Precision Medicines Inc. | 466,052 | 1,142 | |||
*,1,2 | Zogenix Inc. CVR | 215,490 | 431 | |||
*,1,2 | Synergy Pharmaceuticals LLC | 2,001,166 | — | |||
12,410,553 | ||||||
Industrials (19.5%) | ||||||
Quanta Services Inc. | 3,631,934 | 455,227 | ||||
IDEX Corp. | 1,921,098 | 348,929 | ||||
Carlisle Cos. Inc. | 1,306,498 | 311,743 | ||||
Booz Allen Hamilton Holding Corp. | 3,340,697 | 301,865 | ||||
Howmet Aerospace Inc. | 9,504,735 | 298,924 | ||||
Nordson Corp. | 1,317,983 | 266,812 | ||||
* | Fair Isaac Corp. | 655,354 | 262,731 | |||
RPM International Inc. | 3,272,893 | 257,642 | ||||
Graco Inc. | 4,277,204 | 254,109 | ||||
* | Builders FirstSource Inc. | 4,366,430 | 234,477 | |||
AECOM | 3,563,798 | 232,431 | ||||
Huntington Ingalls Industries Inc. | 1,012,071 | 220,449 | ||||
Allegion plc | 2,218,881 | 217,228 | ||||
Sealed Air Corp. | 3,691,957 | 213,100 | ||||
Toro Co. | 2,641,807 | 200,223 | ||||
Watsco Inc. | 838,179 | 200,174 | ||||
Robert Half International Inc. | 2,653,659 | 198,733 | ||||
Genpact Ltd. | 4,680,057 | 198,247 | ||||
Regal Rexnord Corp. | 1,693,102 | 192,201 | ||||
Pentair plc | 4,180,815 | 191,356 | ||||
Tetra Tech Inc. | 1,356,591 | 185,243 | ||||
* | WillScot Mobile Mini Holdings Corp. | 5,623,747 | 182,322 | |||
Owens Corning | 2,453,234 | 182,300 | ||||
Knight-Swift Transportation Holdings Inc. Class A | 3,927,320 | 181,796 | ||||
Lincoln Electric Holdings Inc. | 1,468,725 | 181,182 |
Shares | Market Value• ($000) | |||||
* | Berry Global Group Inc. | 3,292,840 | 179,921 | |||
A O Smith Corp. | 3,285,862 | 179,671 | ||||
* | WEX Inc. | 1,136,948 | 176,864 | |||
* | Middleby Corp. | 1,374,610 | 172,321 | |||
AptarGroup Inc. | 1,656,558 | 170,973 | ||||
* | Paylocity Holding Corp. | 975,049 | 170,068 | |||
Lennox International Inc. | 816,602 | 168,702 | ||||
* | Coherent Inc. | 626,650 | 166,827 | |||
Jack Henry & Associates Inc. | 921,208 | 165,836 | ||||
Sensata Technologies Holding plc | 3,964,808 | 163,786 | ||||
Advanced Drainage Systems Inc. | 1,811,625 | 163,173 | ||||
Western Union Co. | 9,758,488 | 160,722 | ||||
Graphic Packaging Holding Co. | 7,791,871 | 159,733 | ||||
* | Axon Enterprise Inc. | 1,704,490 | 158,807 | |||
Littelfuse Inc. | 625,048 | 158,787 | ||||
* | FTI Consulting Inc. | 871,220 | 157,560 | |||
* | Trex Co. Inc. | 2,860,138 | 155,649 | |||
* | Chart Industries Inc. | 925,195 | 154,859 | |||
Donaldson Co. Inc. | 3,122,093 | 150,298 | ||||
AGCO Corp. | 1,507,204 | 148,761 | ||||
MKS Instruments Inc. | 1,406,618 | 144,361 | ||||
ITT Inc. | 2,110,132 | 141,885 | ||||
Sonoco Products Co. | 2,462,801 | 140,478 | ||||
MDU Resources Group Inc. | 5,138,056 | 138,676 | ||||
* | TopBuild Corp. | 828,227 | 138,446 | |||
* | WESCO International Inc. | 1,281,631 | 137,263 | |||
Oshkosh Corp. | 1,662,896 | 136,590 | ||||
Landstar System Inc. | 938,480 | 136,474 | ||||
Woodward Inc. | 1,455,807 | 134,648 | ||||
Acuity Brands Inc. | 873,772 | 134,596 | ||||
EMCOR Group Inc. | 1,292,230 | 133,048 | ||||
* | XPO Logistics Inc. | 2,761,184 | 132,979 | |||
nVent Electric plc | 4,202,099 | 131,652 | ||||
Curtiss-Wright Corp. | 971,882 | 128,347 | ||||
BWX Technologies Inc. | 2,304,029 | 126,929 | ||||
* | Saia Inc. | 667,325 | 125,457 | |||
Brunswick Corp. | 1,913,590 | 125,111 | ||||
* | AMN Healthcare Services Inc. | 1,130,048 | 123,978 | |||
* | Axalta Coating Systems Ltd. | 5,597,738 | 123,766 | |||
* | Euronet Worldwide Inc. | 1,213,662 | 122,082 | |||
Hubbell Inc. Class B | 678,184 | 121,110 | ||||
Valmont Industries Inc. | 538,362 | 120,932 | ||||
Exponent Inc. | 1,309,346 | 119,766 | ||||
* | GXO Logistics Inc. | 2,757,442 | 119,315 |
Shares | Market Value• ($000) | |||||
* | ExlService Holdings Inc. | 799,278 | 117,758 | |||
MSA Safety Inc. | 943,890 | 114,277 | ||||
* | ASGN Inc. | 1,226,546 | 110,696 | |||
Simpson Manufacturing Co. Inc. | 1,090,384 | 109,704 | ||||
Louisiana-Pacific Corp. | 2,076,604 | 108,835 | ||||
Eagle Materials Inc. | 965,910 | 106,192 | ||||
* | MasTec Inc. | 1,438,140 | 103,057 | |||
ManpowerGroup Inc. | 1,333,025 | 101,856 | ||||
Crane Holdings Co. | 1,133,078 | 99,212 | ||||
Maximus Inc. | 1,552,072 | 97,020 | ||||
Flowserve Corp. | 3,302,561 | 94,552 | ||||
Allison Transmission Holdings Inc. | 2,454,515 | 94,376 | ||||
Vontier Corp. | 4,068,897 | 93,544 | ||||
Applied Industrial Technologies Inc. | 971,070 | 93,388 | ||||
* | Kirby Corp. | 1,524,076 | 92,725 | |||
Insperity Inc. | 919,437 | 91,787 | ||||
* | Atkore Inc. | 1,089,637 | 90,451 | |||
* | Mercury Systems Inc. | 1,384,183 | 89,045 | |||
Air Lease Corp. Class A | 2,661,071 | 88,960 | ||||
Armstrong World Industries Inc. | 1,185,901 | 88,895 | ||||
John Bean Technologies Corp. | 803,383 | 88,710 | ||||
* | Marqeta Inc. Class A | 10,935,453 | 88,687 | |||
Cognex Corp. | 2,085,339 | 88,669 | ||||
* | Fluor Corp. | 3,588,638 | 87,347 | |||
Ryder System Inc. | 1,227,928 | 87,257 | ||||
Silgan Holdings Inc. | 2,100,145 | 86,841 | ||||
Triton International Ltd. | 1,623,204 | 85,462 | ||||
Watts Water Technologies Inc. Class A | 693,112 | 85,142 | ||||
MSC Industrial Direct Co. Inc. Class A | 1,133,254 | 85,119 | ||||
GATX Corp. | 899,705 | 84,716 | ||||
* | Mohawk Industries Inc. | 682,364 | 84,675 | |||
Zurn Elkay Water Solutions Corp. | 3,022,860 | 82,343 | ||||
HB Fuller Co. | 1,339,482 | 80,650 | ||||
Korn Ferry | 1,362,841 | 79,072 | ||||
* | Aerojet Rocketdyne Holdings Inc. | 1,930,132 | 78,363 | |||
Spirit AeroSystems Holdings Inc. Class A | 2,655,111 | 77,795 | ||||
* | Welbilt Inc. | 3,255,800 | 77,521 | |||
Comfort Systems USA Inc. | 908,423 | 75,535 | ||||
* | API Group Corp. | 5,004,672 | 74,920 | |||
Matson Inc. | 1,025,449 | 74,735 |
Shares | Market Value• ($000) | |||||
* | ACI Worldwide Inc. | 2,842,032 | 73,580 | |||
ABM Industries Inc. | 1,690,711 | 73,411 | ||||
* | TriNet Group Inc. | 943,329 | 73,221 | |||
Franklin Electric Co. Inc. | 994,989 | 72,893 | ||||
Brink's Co. | 1,188,801 | 72,172 | ||||
* | Beacon Roofing Supply Inc. | 1,390,134 | 71,397 | |||
* | Resideo Technologies Inc. | 3,672,006 | 71,310 | |||
* | Allegheny Technologies Inc. | 3,137,317 | 71,248 | |||
Otter Tail Corp. | 1,051,850 | 70,611 | ||||
* | Summit Materials Inc. Class A | 2,977,401 | 69,344 | |||
Hillenbrand Inc. | 1,631,655 | 66,833 | ||||
EVERTEC Inc. | 1,808,484 | 66,697 | ||||
ManTech International Corp. Class A | 695,904 | 66,424 | ||||
* | Dycom Industries Inc. | 711,158 | 66,166 | |||
UniFirst Corp. | 382,758 | 65,903 | ||||
* | Meritor Inc. | 1,789,187 | 65,001 | |||
* | Bloom Energy Corp. Class A | 3,900,997 | 64,366 | |||
Albany International Corp. Class A | 794,530 | 62,601 | ||||
Forward Air Corp. | 677,549 | 62,307 | ||||
EnerSys | 1,025,910 | 60,488 | ||||
Badger Meter Inc. | 739,499 | 59,818 | ||||
Esab Corp. | 1,363,355 | 59,647 | ||||
Belden Inc. | 1,118,645 | 59,590 | ||||
* | Verra Mobility Corp. Class A | 3,752,925 | 58,958 | |||
AAON Inc. | 1,073,176 | 58,767 | ||||
Moog Inc. Class A | 731,848 | 58,101 | ||||
* | SPX Corp. | 1,096,408 | 57,934 | |||
* | Hub Group Inc. Class A | 815,984 | 57,886 | |||
Altra Industrial Motion Corp. | 1,640,492 | 57,827 | ||||
Herc Holdings Inc. | 641,398 | 57,822 | ||||
Werner Enterprises Inc. | 1,478,540 | 56,983 | ||||
* | Itron Inc. | 1,136,352 | 56,170 | |||
* | O-I Glass Inc. | 3,947,972 | 55,272 | |||
Brady Corp. Class A | 1,151,625 | 54,403 | ||||
Helios Technologies Inc. | 818,988 | 54,258 | ||||
* | Air Transport Services Group Inc. | 1,782,392 | 51,208 | |||
Trinity Industries Inc. | 2,104,753 | 50,977 | ||||
Encore Wire Corp. | 474,386 | 49,298 | ||||
* | AeroVironment Inc. | 598,129 | 49,166 | |||
Installed Building Products Inc. | 590,792 | 49,130 | ||||
Kennametal Inc. | 2,086,223 | 48,463 | ||||
* | Alight Inc. Class A | 7,057,839 | 47,640 |
Shares | Market Value• ($000) | |||||
McGrath RentCorp | 614,723 | 46,719 | ||||
Mueller Water Products Inc. Class A | 3,966,449 | 46,526 | ||||
Maxar Technologies Inc. | 1,767,830 | 46,123 | ||||
* | GMS Inc. | 1,033,170 | 45,976 | |||
* | AZEK Co. Inc. Class A | 2,745,352 | 45,957 | |||
Terex Corp. | 1,661,533 | 45,476 | ||||
ESCO Technologies Inc. | 651,680 | 44,555 | ||||
Bread Financial Holdings Inc. | 1,193,001 | 44,213 | ||||
* | Masonite International Corp. | 570,165 | 43,806 | |||
* | Kratos Defense & Security Solutions Inc. | 3,155,506 | 43,798 | |||
EnPro Industries Inc. | 526,281 | 43,118 | ||||
* | Shift4 Payments Inc. Class A | 1,288,321 | 42,592 | |||
* | Atlas Air Worldwide Holdings Inc. | 676,281 | 41,733 | |||
ArcBest Corp. | 587,069 | 41,312 | ||||
* | Affirm Holdings Inc. Class A | 2,282,817 | 41,228 | |||
Greif Inc. Class A | 629,601 | 39,275 | ||||
Barnes Group Inc. | 1,216,119 | 37,870 | ||||
* | Hayward Holdings Inc. | 2,568,092 | 36,955 | |||
Lindsay Corp. | 277,071 | 36,801 | ||||
Griffon Corp. | 1,298,063 | 36,385 | ||||
* | AAR Corp. | 843,028 | 35,272 | |||
* | Huron Consulting Group Inc. | 537,849 | 34,955 | |||
* | CoreCivic Inc. | 3,078,038 | 34,197 | |||
Granite Construction Inc. | 1,142,351 | 33,288 | ||||
* | Proto Labs Inc. | 693,894 | 33,196 | |||
ADT Inc. | 5,387,991 | 33,136 | ||||
* | Core & Main Inc. Class A | 1,483,543 | 33,083 | |||
* | OSI Systems Inc. | 386,366 | 33,011 | |||
TTEC Holdings Inc. | 475,180 | 32,260 | ||||
* | Gates Industrial Corp. plc | 2,921,017 | 31,576 | |||
* | Flywire Corp. | 1,786,893 | 31,503 | |||
* | Vicor Corp. | 570,384 | 31,217 | |||
* | JELD-WEN Holding Inc. | 2,083,881 | 30,404 | |||
*,1 | Nikola Corp. | 6,376,122 | 30,350 | |||
*,1 | Legalzoom.com Inc. | 2,748,860 | 30,210 | |||
Kforce Inc. | 484,675 | 29,730 | ||||
TriMas Corp. | 1,071,773 | 29,677 | ||||
*,1 | Virgin Galactic Holdings Inc. | 4,898,508 | 29,489 | |||
Primoris Services Corp. | 1,351,326 | 29,405 |
Shares | Market Value• ($000) | |||||
Enerpac Tool Group Corp. Class A | 1,534,304 | 29,182 | ||||
* | Green Dot Corp. Class A | 1,162,141 | 29,181 | |||
* | Evo Payments Inc. Class A | 1,210,984 | 28,482 | |||
Greenbrier Cos. Inc. | 779,390 | 28,050 | ||||
* | Hillman Solutions Corp. | 3,178,481 | 27,462 | |||
Tennant Co. | 450,183 | 26,673 | ||||
*,1 | Joby Aviation Inc. | 5,351,399 | 26,275 | |||
Standex International Corp. | 302,780 | 25,670 | ||||
*,1 | TuSimple Holdings Inc. Class A | 3,519,293 | 25,445 | |||
*,1 | Enovix Corp. | 2,768,608 | 24,668 | |||
AZZ Inc. | 597,135 | 24,375 | ||||
* | Payoneer Global Inc. | 6,067,474 | 23,785 | |||
Deluxe Corp. | 1,093,261 | 23,691 | ||||
Astec Industries Inc. | 580,269 | 23,663 | ||||
*,1 | Proterra Inc. | 5,067,053 | 23,511 | |||
H&E Equipment Services Inc. | 778,062 | 22,540 | ||||
* | Rocket Lab USA Inc. | 5,851,109 | 22,176 | |||
Kaman Corp. | 709,212 | 22,163 | ||||
Apogee Enterprises Inc. | 557,219 | 21,854 | ||||
Schneider National Inc. Class B | 958,964 | 21,462 | ||||
*,1 | PureCycle Technologies Inc. | 2,882,071 | 21,385 | |||
* | Cornerstone Building Brands Inc. | 803,286 | 19,672 | |||
Quanex Building Products Corp. | 851,556 | 19,373 | ||||
*,1 | AvidXchange Holdings Inc. | 2,992,572 | 18,374 | |||
* | CryoPort Inc. | 591,984 | 18,340 | |||
* | ZipRecruiter Inc. Class A | 1,224,210 | 18,143 | |||
* | Conduent Inc. | 4,113,281 | 17,769 | |||
* | First Advantage Corp. | 1,362,886 | 17,268 | |||
Heartland Express Inc. | 1,217,250 | 16,932 | ||||
Wabash National Corp. | 1,191,753 | 16,184 | ||||
* | Gibraltar Industries Inc. | 417,494 | 16,178 | |||
*,1 | Remitly Global Inc. | 2,095,558 | 16,052 | |||
*,1 | Mirion Technologies Inc. | 2,765,521 | 15,929 | |||
* | Cimpress plc | 398,224 | 15,491 | |||
Kelly Services Inc. Class A | 778,899 | 15,446 | ||||
*,1 | Aurora Innovation Inc. | 7,998,972 | 15,278 | |||
* | Janus International Group Inc. | 1,678,298 | 15,155 | |||
Gorman-Rupp Co. | 534,281 | 15,120 |
Shares | Market Value• ($000) | |||||
* | FARO Technologies Inc. | 466,569 | 14,384 | |||
* | TrueBlue Inc. | 795,662 | 14,242 | |||
Pitney Bowes Inc. | 3,932,723 | 14,236 | ||||
* | BTRS Holdings Inc. | 2,823,607 | 14,062 | |||
* | Forrester Research Inc. | 292,664 | 14,001 | |||
International Seaways Inc. | 628,789 | 13,330 | ||||
*,1 | Desktop Metal Inc. Class A | 5,940,788 | 13,070 | |||
* | BrightView Holdings Inc. | 1,049,154 | 12,590 | |||
* | TaskUS Inc. Class A | 699,904 | 11,800 | |||
* | Thermon Group Holdings Inc. | 793,134 | 11,144 | |||
Kronos Worldwide Inc. | 586,400 | 10,790 | ||||
*,1 | CS Disco Inc. | 590,970 | 10,661 | |||
* | Triumph Group Inc. | 777,672 | 10,335 | |||
*,1 | Hyliion Holdings Corp. | 3,128,876 | 10,075 | |||
REV Group Inc. | 887,512 | 9,647 | ||||
* | American Woodmark Corp. | 214,259 | 9,644 | |||
* | Tutor Perini Corp. | 1,044,459 | 9,170 | |||
Pactiv Evergreen Inc. | 910,398 | 9,068 | ||||
National Presto Industries Inc. | 135,505 | 8,895 | ||||
*,1 | Microvast Holdings Inc. | 3,815,170 | 8,470 | |||
* | Sterling Check Corp. | 484,736 | 7,906 | |||
* | Advantage Solutions Inc. | 2,052,939 | 7,801 | |||
Greif Inc. Class B | 119,234 | 7,427 | ||||
Hyster-Yale Materials Handling Inc. | 225,657 | 7,271 | ||||
*,1 | Paymentus Holdings Inc. Class A | 384,982 | 5,147 | |||
* | Vivint Smart Home Inc. | 1,345,493 | 4,682 | |||
* | CIRCOR International Inc. | 254,275 | 4,168 | |||
* | Ranpak Holdings Corp. Class A | 557,726 | 3,904 | |||
* | Velo3D Inc. | 1,965,062 | 2,712 | |||
*,1 | Velodyne Lidar Inc. | 1,769,502 | 1,690 | |||
*,1 | Hydrofarm Holdings Group Inc. | 450,050 | 1,566 | |||
*,1 | Latch Inc. | 1,262,797 | 1,440 | |||
21,155,933 | ||||||
Real Estate (9.1%) | ||||||
Kimco Realty Corp. | 15,619,188 | 308,791 | ||||
Equity LifeStyle Properties Inc. | 4,230,880 | 298,150 | ||||
Gaming & Leisure Properties Inc. | 5,943,521 | 272,570 | ||||
American Homes 4 Rent Class A | 7,031,300 | 249,189 |
Shares | Market Value• ($000) | |||||
CubeSmart | 5,671,684 | 242,294 | ||||
Rexford Industrial Realty Inc. | 4,171,349 | 240,228 | ||||
Life Storage Inc. | 2,131,995 | 238,059 | ||||
Medical Properties Trust Inc. | 15,166,650 | 231,595 | ||||
American Campus Communities Inc. | 3,526,651 | 227,363 | ||||
* | Jones Lang LaSalle Inc. | 1,234,924 | 215,939 | |||
Americold Realty Trust Inc. | 6,803,717 | 204,384 | ||||
Lamar Advertising Co. Class A | 2,200,099 | 193,543 | ||||
Federal Realty OP LP | 2,006,592 | 192,111 | ||||
National Retail Properties Inc. | 4,444,403 | 191,109 | ||||
STORE Capital Corp. | 6,736,273 | 175,682 | ||||
Omega Healthcare Investors Inc. | 5,943,538 | 167,548 | ||||
Apartment Income REIT Corp. Class A | 3,959,051 | 164,696 | ||||
EastGroup Properties Inc. | 1,053,317 | 162,558 | ||||
Healthcare Trust of America Inc. Class A | 5,789,550 | 161,586 | ||||
First Industrial Realty Trust Inc. | 3,330,096 | 158,113 | ||||
Kilroy Realty Corp. | 2,948,859 | 154,314 | ||||
Brixmor Property Group Inc. | 7,567,539 | 152,940 | ||||
Host Hotels & Resorts Inc. | 9,031,896 | 141,620 | ||||
STAG Industrial Inc. | 4,527,934 | 139,823 | ||||
Rayonier Inc. | 3,695,524 | 138,139 | ||||
Agree Realty Corp. | 1,899,796 | 137,032 | ||||
Regency Centers Corp. | 2,178,278 | 129,194 | ||||
Spirit Realty Capital Inc. | 3,392,232 | 128,158 | ||||
Vornado Realty Trust | 4,358,840 | 124,619 | ||||
Independence Realty Trust Inc. | 5,589,566 | 115,872 | ||||
National Storage Affiliates Trust | 2,197,113 | 110,009 | ||||
Cousins Properties Inc. | 3,755,650 | 109,778 | ||||
Terreno Realty Corp. | 1,907,494 | 106,305 | ||||
Healthcare Realty Trust Inc. | 3,832,328 | 104,239 | ||||
* | Ryman Hospitality Properties Inc. | 1,323,374 | 100,616 | |||
Physicians Realty Trust | 5,685,762 | 99,217 | ||||
1 | Phillips Edison & Co. Inc. | 2,878,277 | 96,163 | |||
Kite Realty Group Trust | 5,531,406 | 95,638 | ||||
Douglas Emmett Inc. | 4,217,390 | 94,385 |
Shares | Market Value• ($000) | |||||
PS Business Parks Inc. | 489,503 | 91,610 | ||||
Highwoods Properties Inc. | 2,655,230 | 90,782 | ||||
EPR Properties | 1,894,035 | 88,887 | ||||
Broadstone Net Lease Inc. | 4,058,020 | 83,230 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 2,195,185 | 83,110 | ||||
Sabra Health Care REIT Inc. | 5,835,506 | 81,522 | ||||
Apple Hospitality REIT Inc. | 5,496,290 | 80,631 | ||||
LXP Industrial Trust | 7,233,413 | 77,687 | ||||
Innovative Industrial Properties Inc. | 706,886 | 77,666 | ||||
SL Green Realty Corp. | 1,618,297 | 74,684 | ||||
* | Equity Commonwealth | 2,700,263 | 74,338 | |||
Corporate Office Properties Trust | 2,835,104 | 74,251 | ||||
JBG SMITH Properties | 3,119,162 | 73,737 | ||||
* | DigitalBridge Group Inc. | 15,091,336 | 73,646 | |||
PotlatchDeltic Corp. | 1,665,616 | 73,604 | ||||
Park Hotels & Resorts Inc. | 5,309,239 | 72,046 | ||||
Essential Properties Realty Trust Inc. | 3,311,253 | 71,159 | ||||
National Health Investors Inc. | 1,098,347 | 66,571 | ||||
* | Howard Hughes Corp. | 971,833 | 66,133 | |||
Outfront Media Inc. | 3,727,407 | 63,180 | ||||
SITE Centers Corp. | 4,596,454 | 61,914 | ||||
* | Cushman & Wakefield plc | 3,989,239 | 60,796 | |||
Uniti Group Inc. | 5,982,161 | 56,352 | ||||
Kennedy-Wilson Holdings Inc. | 2,951,850 | 55,908 | ||||
*,1 | Opendoor Technologies Inc. | 11,850,947 | 55,818 | |||
Pebblebrook Hotel Trust | 3,313,072 | 54,898 | ||||
* | Sunstone Hotel Investors Inc. | 5,431,224 | 53,878 | |||
Hudson Pacific Properties Inc. | 3,463,390 | 51,397 | ||||
Retail Opportunity Investments Corp. | 3,004,109 | 47,405 | ||||
Washington REIT | 2,201,375 | 46,911 | ||||
RLJ Lodging Trust | 4,210,195 | 46,438 | ||||
CareTrust REIT Inc. | 2,447,206 | 45,126 | ||||
Macerich Co. | 5,149,503 | 44,852 | ||||
* | DiamondRock Hospitality Co. | 5,322,360 | 43,697 |
Shares | Market Value• ($000) | |||||
Urban Edge Properties | 2,816,311 | 42,836 | ||||
* | Xenia Hotels & Resorts Inc. | 2,883,792 | 41,901 | |||
InvenTrust Properties Corp. | 1,617,372 | 41,712 | ||||
Brandywine Realty Trust | 4,313,636 | 41,583 | ||||
Piedmont Office Realty Trust Inc. Class A | 3,101,936 | 40,697 | ||||
St. Joe Co. | 965,032 | 38,177 | ||||
LTC Properties Inc. | 994,113 | 38,164 | ||||
Acadia Realty Trust | 2,387,793 | 37,297 | ||||
Global Net Lease Inc. | 2,600,557 | 36,824 | ||||
Newmark Group Inc. Class A | 3,709,684 | 35,873 | ||||
*,1 | WeWork Inc. | 7,114,986 | 35,717 | |||
Tanger Factory Outlet Centers Inc. | 2,499,686 | 35,546 | ||||
Paramount Group Inc. | 4,690,451 | 33,912 | ||||
American Assets Trust Inc. | 1,140,229 | 33,865 | ||||
Alexander & Baldwin Inc. | 1,838,194 | 32,996 | ||||
Centerspace | 386,479 | 31,517 | ||||
Empire State Realty Trust Inc. Class A | 4,195,461 | 29,494 | ||||
* | Anywhere Real Estate Inc. | 2,831,162 | 27,830 | |||
Getty Realty Corp. | 1,020,627 | 27,047 | ||||
* | Veris Residential Inc. | 1,978,748 | 26,199 | |||
* | Apartment Investment & Management Co. Class A | 3,896,975 | 24,941 | |||
Office Properties Income Trust | 1,246,196 | 24,862 | ||||
Necessity Retail REIT Inc. Class A | 3,333,740 | 24,270 | ||||
Marcus & Millichap Inc. | 636,301 | 23,537 | ||||
*,1 | Compass Inc. Class A | 6,495,335 | 23,448 | |||
Industrial Logistics Properties Trust | 1,660,116 | 23,374 | ||||
Service Properties Trust | 4,210,896 | 22,023 | ||||
RPT Realty | 2,179,498 | 21,424 | ||||
* | Redfin Corp. | 2,594,982 | 21,383 | |||
1 | eXp World Holdings Inc. | 1,707,962 | 20,103 | |||
* | GEO Group Inc. | 2,983,436 | 19,691 | |||
Universal Health Realty Income Trust | 319,330 | 16,992 | ||||
Safehold Inc. | 473,006 | 16,730 | ||||
Saul Centers Inc. | 336,037 | 15,831 | ||||
Alexander's Inc. | 52,598 | 11,685 | ||||
RMR Group Inc. Class A | 398,300 | 11,292 |
Shares | Market Value• ($000) | |||||
Diversified Healthcare Trust | 6,074,060 | 11,055 | ||||
Bridge Investment Group Holdings Inc. Class A | 705,097 | 10,252 | ||||
Franklin Street Properties Corp. | 2,379,235 | 9,921 | ||||
* | Summit Hotel Properties Inc. | 1,261,371 | 9,170 | |||
Douglas Elliman Inc. | 1,622,926 | 7,774 | ||||
Urstadt Biddle Properties Inc. Class A | 421,610 | 6,830 | ||||
* | Forestar Group Inc. | 452,132 | 6,190 | |||
*,1 | Offerpad Solutions Inc. | 1,164,438 | 2,538 | |||
* | Seritage Growth Properties Class A | 435,105 | 2,267 | |||
*,2 | Spirit MTA REIT | 529,410 | 142 | |||
Urstadt Biddle Properties Inc. | 15 | — | ||||
9,934,345 | ||||||
Technology (11.8%) | ||||||
Entegris Inc. | 3,434,153 | 316,388 | ||||
* | PTC Inc. | 2,660,635 | 282,932 | |||
* | Dynatrace Inc. | 5,060,008 | 199,567 | |||
* | Wolfspeed Inc. | 3,124,095 | 198,224 | |||
* | Arrow Electronics Inc. | 1,694,577 | 189,945 | |||
* | Pure Storage Inc. Class A | 7,162,061 | 184,137 | |||
* | Manhattan Associates Inc. | 1,594,809 | 182,765 | |||
* | DXC Technology Co. | 6,028,314 | 182,718 | |||
Leidos Holdings Inc. | 1,727,273 | 173,954 | ||||
* | Ceridian HCM Holding Inc. | 3,664,122 | 172,507 | |||
KBR Inc. | 3,526,974 | 170,670 | ||||
* | Lattice Semiconductor Corp. | 3,477,656 | 168,666 | |||
* | CACI International Inc. Class A | 591,675 | 166,722 | |||
Jabil Inc. | 3,212,291 | 164,501 | ||||
CDK Global Inc. | 2,950,309 | 161,588 | ||||
* | Five9 Inc. | 1,757,582 | 160,186 | |||
* | Avalara Inc. | 2,129,980 | 150,377 | |||
* | Guidewire Software Inc. | 2,110,787 | 149,845 | |||
* | Sailpoint Technologies Holdings Inc. | 2,382,800 | 149,354 | |||
Concentrix Corp. | 1,060,802 | 143,887 | ||||
* | II-VI Inc. | 2,690,559 | 137,084 | |||
Azenta Inc. | 1,894,398 | 136,586 | ||||
* | Change Healthcare Inc. | 5,913,571 | 136,367 | |||
* | Aspen Technology Inc. | 727,889 | 133,699 | |||
Science Applications International Corp. | 1,410,647 | 131,331 |
Shares | Market Value• ($000) | |||||
* | Silicon Laboratories Inc. | 924,552 | 129,641 | |||
* | Elastic NV | 1,889,325 | 127,851 | |||
* | Tenable Holdings Inc. | 2,794,293 | 126,889 | |||
CMC Materials Inc. | 723,391 | 126,224 | ||||
* | Rogers Corp. | 475,111 | 124,522 | |||
* | Mandiant Corp. | 5,617,907 | 122,583 | |||
* | Synaptics Inc. | 1,000,851 | 118,150 | |||
Dolby Laboratories Inc. Class A | 1,637,905 | 117,208 | ||||
* | F5 Inc. | 763,813 | 116,894 | |||
* | Zendesk Inc. | 1,548,473 | 114,695 | |||
* | Qualys Inc. | 883,213 | 111,408 | |||
Power Integrations Inc. | 1,473,834 | 110,552 | ||||
*,1 | SentinelOne Inc. Class A | 4,725,853 | 110,254 | |||
Universal Display Corp. | 1,073,883 | 108,613 | ||||
Switch Inc. Class A | 3,233,377 | 108,318 | ||||
Avnet Inc. | 2,468,800 | 105,862 | ||||
* | Novanta Inc. | 856,709 | 103,893 | |||
National Instruments Corp. | 3,313,801 | 103,490 | ||||
* | SPS Commerce Inc. | 911,974 | 103,099 | |||
* | Cirrus Logic Inc. | 1,418,833 | 102,922 | |||
TD SYNNEX Corp. | 1,092,177 | 99,497 | ||||
* | Smartsheet Inc. Class A | 3,091,127 | 97,154 | |||
* | NCR Corp. | 3,106,993 | 96,659 | |||
* | Rapid7 Inc. | 1,398,889 | 93,446 | |||
* | Teradata Corp. | 2,514,035 | 93,044 | |||
* | Dun & Bradstreet Holdings Inc. | 6,033,703 | 90,687 | |||
* | Blackline Inc. | 1,348,654 | 89,820 | |||
* | Semtech Corp. | 1,602,338 | 88,081 | |||
* | Onto Innovation Inc. | 1,252,719 | 87,365 | |||
* | Box Inc. Class A | 3,444,783 | 86,602 | |||
* | Ziff Davis Inc. | 1,134,227 | 84,534 | |||
* | Nutanix Inc. Class A | 5,572,073 | 81,519 | |||
* | Varonis Systems Inc. | 2,769,946 | 81,215 | |||
* | Perficient Inc. | 875,734 | 80,296 | |||
* | IPG Photonics Corp. | 852,405 | 80,237 | |||
* | Blackbaud Inc. | 1,338,730 | 77,740 | |||
* | Procore Technologies Inc. | 1,712,189 | 77,716 | |||
* | Insight Enterprises Inc. | 886,599 | 76,496 | |||
* | FormFactor Inc. | 1,970,032 | 76,299 | |||
* | Fabrinet | 929,646 | 75,394 | |||
* | Alarm.com Holdings Inc. | 1,200,909 | 74,288 | |||
* | Dropbox Inc. Class A | 3,519,237 | 73,869 | |||
* | Envestnet Inc. | 1,395,440 | 73,637 | |||
* | Workiva Inc. Class A | 1,094,249 | 72,209 |
Shares | Market Value• ($000) | |||||
* | Alteryx Inc. Class A | 1,449,415 | 70,181 | |||
* | Diodes Inc. | 1,086,567 | 70,160 | |||
* | Verint Systems Inc. | 1,636,238 | 69,295 | |||
Advanced Energy Industries Inc. | 948,954 | 69,255 | ||||
* | New Relic Inc. | 1,351,699 | 67,653 | |||
* | CommVault Systems Inc. | 1,069,488 | 67,271 | |||
* | Altair Engineering Inc. Class A | 1,248,488 | 65,546 | |||
Vertiv Holdings Co. Class A | 7,620,635 | 62,642 | ||||
*,1 | DigitalOcean Holdings Inc. | 1,475,022 | 61,007 | |||
* | Upwork Inc. | 2,947,808 | 60,961 | |||
* | SiTime Corp. | 372,428 | 60,717 | |||
* | NetScout Systems Inc. | 1,777,278 | 60,161 | |||
* | MaxLinear Inc. Class A | 1,764,870 | 59,970 | |||
* | Bumble Inc. Class A | 2,129,344 | 59,941 | |||
* | Rambus Inc. | 2,784,076 | 59,830 | |||
* | Ambarella Inc. | 913,516 | 59,799 | |||
* | Sanmina Corp. | 1,461,667 | 59,534 | |||
Vishay Intertechnology Inc. | 3,328,547 | 59,315 | ||||
* | Confluent Inc. Class A | 2,547,572 | 59,206 | |||
* | MACOM Technology Solutions Holdings Inc. | 1,234,643 | 56,917 | |||
* | RingCentral Inc. Class A | 1,071,912 | 56,018 | |||
* | Covetrus Inc. | 2,646,299 | 54,911 | |||
* | Coupa Software Inc. | 952,898 | 54,410 | |||
* | Sprout Social Inc. Class A | 936,723 | 54,395 | |||
* | Q2 Holdings Inc. | 1,372,286 | 52,929 | |||
* | Cargurus Inc. Class A | 2,453,936 | 52,735 | |||
* | Plexus Corp. | 663,809 | 52,109 | |||
*,1 | nCino Inc. | 1,668,858 | 51,601 | |||
Progress Software Corp. | 1,104,227 | 50,021 | ||||
* | Kyndryl Holdings Inc. | 5,098,183 | 49,860 | |||
Pegasystems Inc. | 1,033,264 | 49,431 | ||||
* | E2open Parent Holdings Inc. | 6,083,312 | 47,328 | |||
* | Yelp Inc. Class A | 1,698,889 | 47,178 | |||
Amkor Technology Inc. | 2,779,332 | 47,110 | ||||
* | PagerDuty Inc. | 1,881,564 | 46,625 | |||
CSG Systems International Inc. | 778,895 | 46,484 | ||||
* | Appian Corp. | 979,949 | 46,410 | |||
* | Super Micro Computer Inc. | 1,113,836 | 44,943 | |||
* | LiveRamp Holdings Inc. | 1,641,623 | 42,370 | |||
* | Appfolio Inc. Class A | 457,791 | 41,494 |
Shares | Market Value• ($000) | |||||
* | Allscripts Healthcare Solutions Inc. | 2,785,996 | 41,316 | |||
* | Jamf Holding Corp. | 1,664,563 | 41,231 | |||
Xerox Holdings Corp. | 2,736,037 | 40,630 | ||||
* | Toast Inc. Class A | 3,037,386 | 39,304 | |||
*,1 | MicroStrategy Inc. Class A | 236,140 | 38,798 | |||
* | Digital Turbine Inc. | 2,206,537 | 38,548 | |||
*,1 | Clear Secure Inc. Class A | 1,883,118 | 37,662 | |||
* | DoubleVerify Holdings Inc. | 1,649,697 | 37,399 | |||
*,1 | Gitlab Inc. Class A | 699,841 | 37,190 | |||
* | Parsons Corp. | 916,368 | 37,040 | |||
Xperi Holding Corp. | 2,491,142 | 35,947 | ||||
* | CCC Intelligent Solutions Holdings Inc. | 3,871,340 | 35,616 | |||
* | Schrodinger Inc. | 1,329,064 | 35,101 | |||
* | Allegro MicroSystems Inc. | 1,680,064 | 34,761 | |||
* | JFrog Ltd. | 1,620,360 | 34,141 | |||
Shutterstock Inc. | 595,320 | 34,118 | ||||
*,1 | Freshworks Inc. Class A | 2,544,123 | 33,455 | |||
*,1 | C3.ai Inc. Class A | 1,817,686 | 33,191 | |||
Methode Electronics Inc. | 886,757 | 32,845 | ||||
* | Fastly Inc. Class A | 2,745,543 | 31,876 | |||
* | Ping Identity Holding Corp. | 1,722,892 | 31,253 | |||
* | 3D Systems Corp. | 3,122,909 | 30,292 | |||
* | Asana Inc. Class A | 1,715,804 | 30,164 | |||
* | KnowBe4 Inc. Class A | 1,895,966 | 29,615 | |||
*,1 | Paycor HCM Inc. | 1,106,275 | 28,763 | |||
* | TTM Technologies Inc. | 2,290,611 | 28,633 | |||
* | Magnite Inc. | 3,165,966 | 28,114 | |||
*,1 | Braze Inc. Class A | 772,070 | 27,972 | |||
* | Everbridge Inc. | 1,001,303 | 27,926 | |||
*,1 | Thoughtworks Holding Inc. | 1,955,262 | 27,589 | |||
* | Duck Creek Technologies Inc. | 1,840,682 | 27,334 | |||
* | Zuora Inc. Class A | 3,051,901 | 27,314 | |||
* | PROS Holdings Inc. | 1,031,669 | 27,061 | |||
* | Momentive Global Inc. | 3,029,551 | 26,660 | |||
* | Squarespace Inc. Class A | 1,270,514 | 26,579 | |||
* | LivePerson Inc. | 1,784,638 | 25,235 | |||
*,1 | Xometry Inc. Class A | 727,065 | 24,669 | |||
* | Veeco Instruments Inc. | 1,229,336 | 23,849 | |||
* | Cerence Inc. | 942,171 | 23,771 | |||
* | BigCommerce Holdings Inc. | 1,379,471 | 22,347 | |||
*,1 | Olo Inc. Class A | 2,184,354 | 21,560 | |||
* | Eventbrite Inc. Class A | 2,018,114 | 20,726 |
Shares | Market Value• ($000) | |||||
* | Vimeo Inc. | 3,388,687 | 20,400 | |||
* | ScanSource Inc. | 639,140 | 19,903 | |||
* | Consensus Cloud Solutions Inc. | 455,308 | 19,888 | |||
* | Unisys Corp. | 1,626,354 | 19,565 | |||
* | Sprinklr Inc. Class A | 1,935,161 | 19,564 | |||
Benchmark Electronics Inc. | 839,775 | 18,945 | ||||
* | CEVA Inc. | 563,259 | 18,903 | |||
* | Informatica Inc. Class A | 891,939 | 18,526 | |||
* | Sumo Logic Inc. | 2,455,362 | 18,391 | |||
* | Definitive Healthcare Corp. Class A | 738,615 | 16,936 | |||
* | PubMatic Inc. Class A | 1,063,237 | 16,895 | |||
*,1 | Amplitude Inc. Class A | 1,130,516 | 16,155 | |||
*,1 | IonQ Inc. | 3,499,183 | 15,326 | |||
* | N-able Inc. | 1,603,288 | 14,430 | |||
* | Yext Inc. | 2,994,352 | 14,313 | |||
*,1 | AvePoint Inc. | 3,261,912 | 14,157 | |||
*,1 | Expensify Inc. Class A | 772,138 | 13,736 | |||
*,1 | Zeta Global Holdings Corp. Class A | 2,925,029 | 13,221 | |||
* | Alkami Technology Inc. | 923,216 | 12,823 | |||
*,1 | ForgeRock Inc. Class A | 591,867 | 12,678 | |||
*,1 | HashiCorp Inc. Class A | 416,943 | 12,275 | |||
*,1 | Rackspace Technology Inc. | 1,593,212 | 11,423 | |||
*,1 | SmartRent Inc. Class A | 2,475,204 | 11,188 | |||
*,1 | Samsara Inc. Class A | 985,189 | 11,005 | |||
* | nLight Inc. | 1,068,645 | 10,922 | |||
1 | Ebix Inc. | 629,809 | 10,644 | |||
*,1 | Blend Labs Inc. Class A | 4,439,080 | 10,476 | |||
SolarWinds Corp. | 1,018,866 | 10,443 | ||||
*,1 | Matterport Inc. | 2,846,801 | 10,419 | |||
*,1 | Couchbase Inc. | 618,875 | 10,162 | |||
*,1 | EngageSmart Inc. | 614,734 | 9,885 | |||
* | Telos Corp. | 1,192,787 | 9,638 | |||
*,1 | Aeva Technologies Inc. | 3,044,126 | 9,528 | |||
* | Bandwidth Inc. Class A | 502,087 | 9,449 | |||
* | ON24 Inc. | 958,971 | 9,101 | |||
*,1 | SEMrush Holdings Inc. Class A | 701,063 | 9,065 | |||
* | Vertex Inc. Class A | 785,134 | 8,896 | |||
* | Nextdoor Holdings Inc. | 2,496,920 | 8,265 | |||
* | MeridianLink Inc. | 415,247 | 6,935 | |||
* | EverCommerce Inc. | 753,871 | 6,815 | |||
*,1 | Credo Technology Group Holding Ltd. | 545,428 | 6,371 | |||
* | Intapp Inc. | 395,222 | 5,786 | |||
*,1 | WM Technology Inc. | 1,735,286 | 5,709 |
Shares | Market Value• ($000) | |||||
* | MediaAlpha Inc. Class A | 567,871 | 5,594 | |||
*,1 | Groupon Inc. | 492,204 | 5,562 | |||
*,1 | NerdWallet Inc. Class A | 668,884 | 5,304 | |||
* | Avaya Holdings Corp. | 2,073,285 | 4,644 | |||
1 | Vivid Seats Inc. Class A | 601,052 | 4,490 | |||
* | Planet Labs PBC | 913,382 | 3,955 | |||
*,1 | Skillz Inc. Class A | 3,025,351 | 3,751 | |||
* | Enfusion Inc. Class A | 330,285 | 3,372 | |||
*,1 | Ouster Inc. | 1,524,146 | 2,469 | |||
* | SecureWorks Corp. Class A | 211,066 | 2,292 | |||
* | BuzzFeed Inc. | 688,074 | 1,060 | |||
* | Loyalty Ventures Inc. | 246,458 | 880 | |||
12,802,718 | ||||||
Telecommunications (1.5%) | ||||||
Cable One Inc. | 151,451 | 195,269 | ||||
* | Ciena Corp. | 3,843,104 | 175,630 | |||
* | Frontier Communications Parent Inc. | 6,190,558 | 145,726 | |||
* | Lumentum Holdings Inc. | 1,655,936 | 131,514 | |||
* | Vonage Holdings Corp. | 6,486,296 | 122,202 | |||
Juniper Networks Inc. | 4,081,723 | 116,329 | ||||
* | Iridium Communications Inc. | 2,910,799 | 109,330 | |||
* | Viavi Solutions Inc. | 5,750,852 | 76,084 | |||
Cogent Communications Holdings Inc. | 1,089,788 | 66,215 | ||||
* | Viasat Inc. | 1,787,914 | 54,764 | |||
* | Altice USA Inc. Class A | 5,467,200 | 50,571 | |||
* | Calix Inc. | 1,388,715 | 47,411 | |||
InterDigital Inc. | 779,476 | 47,392 | ||||
* | Plantronics Inc. | 1,031,958 | 40,948 | |||
Telephone & Data Systems Inc. | 2,570,318 | 40,585 | ||||
* | CommScope Holding Co. Inc. | 4,964,472 | 30,382 | |||
Shenandoah Telecommunications Co. | 1,208,780 | 26,835 | ||||
* | Infinera Corp. | 4,650,669 | 24,927 | |||
* | WideOpenWest Inc. | 1,338,643 | 24,377 | |||
*,1 | Globalstar Inc. | 18,282,665 | 22,488 | |||
ADTRAN Inc. | 1,192,461 | 20,904 | ||||
* | EchoStar Corp. Class A | 887,360 | 17,126 | |||
* | 8x8 Inc. | 2,895,278 | 14,911 | |||
* | Gogo Inc. | 807,924 | 13,080 | |||
* | NETGEAR Inc. | 705,120 | 13,059 | |||
ATN International Inc. | 273,774 | 12,843 |
Shares | Market Value• ($000) | |||||
* | United States Cellular Corp. | 393,394 | 11,393 | |||
*,1 | fuboTV Inc. | 4,204,653 | 10,385 | |||
1,662,680 | ||||||
Utilities (4.0%) | ||||||
Atmos Energy Corp. | 3,514,650 | 393,992 | ||||
Essential Utilities Inc. | 5,963,363 | 273,420 | ||||
Constellation Energy Corp. | 4,127,471 | 236,339 | ||||
NRG Energy Inc. | 5,998,086 | 228,947 | ||||
Pinnacle West Capital Corp. | 2,855,683 | 208,808 | ||||
UGI Corp. | 5,307,304 | 204,915 | ||||
OGE Energy Corp. | 5,064,164 | 195,274 | ||||
National Fuel Gas Co. | 2,311,440 | 152,671 | ||||
Southwest Gas Holdings Inc. | 1,584,977 | 138,020 | ||||
IDACORP Inc. | 1,277,216 | 135,283 | ||||
Black Hills Corp. | 1,638,468 | 119,231 | ||||
* | Sunrun Inc. | 5,043,573 | 117,818 | |||
* | Clean Harbors Inc. | 1,306,671 | 114,556 | |||
ONE Gas Inc. | 1,366,286 | 110,929 | ||||
Portland General Electric Co. | 2,255,713 | 109,019 | ||||
New Jersey Resources Corp. | 2,427,945 | 108,116 | ||||
Hawaiian Electric Industries Inc. | 2,625,582 | 107,386 | ||||
South Jersey Industries Inc. | 3,094,097 | 105,632 | ||||
PNM Resources Inc. | 2,169,446 | 103,656 | ||||
* | Stericycle Inc. | 2,327,623 | 102,066 | |||
* | Evoqua Water Technologies Corp. | 3,064,611 | 99,631 | |||
Spire Inc. | 1,250,993 | 93,036 | ||||
* | Casella Waste Systems Inc. Class A | 1,280,062 | 93,035 | |||
Ormat Technologies Inc. | 1,134,169 | 88,862 | ||||
ALLETE Inc. | 1,425,939 | 83,817 | ||||
NorthWestern Corp. | 1,366,796 | 80,545 | ||||
Avista Corp. | 1,829,380 | 79,596 | ||||
American States Water Co. | 932,486 | 76,007 | ||||
California Water Service Group | 1,357,534 | 75,411 |
Shares | Market Value• ($000) | |||||
Clearway Energy Inc. Class C | 2,062,760 | 71,867 | ||||
MGE Energy Inc. | 911,722 | 70,959 | ||||
Northwest Natural Holding Co. | 866,669 | 46,020 | ||||
* | Sunnova Energy International Inc. | 2,458,572 | 45,312 | |||
* | Archaea Energy Inc. Class A | 2,032,011 | 31,557 | |||
Clearway Energy Inc. Class A | 884,276 | 28,270 | ||||
* | Harsco Corp. | 2,022,978 | 14,383 | |||
*,1 | Excelerate Energy Inc. Class A | 464,242 | 9,248 | |||
*,1 | NuScale Power Corp. | 373,436 | 3,731 | |||
4,357,365 | ||||||
Total Common Stocks (Cost $95,625,088) | 107,907,728 | |||||
Temporary Cash Investments (2.6%) | ||||||
Money Market Fund (2.6%) | ||||||
3,4 | Vanguard Market Liquidity Fund, 1.417% (Cost $2,788,662) | 27,896,140 | 2,788,777 | |||
Total Investments (101.9%) (Cost $98,413,750) | 110,696,505 | |||||
Other Assets and Liabilities—Net (-1.9%) | (2,034,022) | |||||
Net Assets (100%) | 108,662,483 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,799,311,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
4 | Collateral of $1,974,436,000 was received for securities on loan. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2022 | 4,799 | 409,834 | (20,522) |
E-mini S&P 500 Index | September 2022 | 160 | 30,316 | (16) |
E-mini S&P Mid-Cap 400 Index | September 2022 | 1,461 | 331,355 | (17,980) |
(38,518) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
ACI Worldwide Inc. | 8/31/22 | BANA | 1,465 | (1.643) | — | (43) |
Avalara Inc. | 8/31/22 | BANA | 7,620 | (1.212) | — | (1,273) |
DXC Technology Co. | 8/31/22 | BANA | 3,054 | (1.968) | — | (24) |
DXC Technology Co. | 8/31/22 | BANA | 1,534 | (1.967) | — | (19) |
Ollie's Bargain Outlet Holdings Inc. | 1/31/23 | GSI | 17,013 | (1.611) | 602 | — |
Popular Inc. | 8/31/22 | BANA | 2,339 | (1.844) | — | (33) |
Popular Inc. | 8/31/22 | BANA | 11,439 | (1.634) | — | (614) |
Signature Bank | 8/31/23 | BANA | 8,141 | (2.319) | — | (84) |
Signature Bank | 8/31/23 | BANA | 54,068 | (1.942) | — | (9,347) |
United Therapeutics Corp. | 8/31/22 | BANA | 27,641 | (1.257) | 611 | — |
1,213 | (11,437) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $95,625,088) | 107,907,728 |
Affiliated Issuers (Cost $2,788,662) | 2,788,777 |
Total Investments in Securities | 110,696,505 |
Investment in Vanguard | 4,303 |
Cash Collateral Pledged—Futures Contracts | 47,799 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 8,630 |
Receivables for Investment Securities Sold | 136,109 |
Receivables for Accrued Income | 114,212 |
Receivables for Capital Shares Issued | 48,490 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 1,213 |
Total Assets | 111,057,261 |
Liabilities | |
Due to Custodian | 123,052 |
Payables for Investment Securities Purchased | 213,178 |
Collateral for Securities on Loan | 1,974,436 |
Payables for Capital Shares Redeemed | 63,840 |
Payables to Vanguard | 2,122 |
Variation Margin Payable—Futures Contracts | 6,713 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 11,437 |
Total Liabilities | 2,394,778 |
Net Assets | 108,662,483 |
1 Includes $1,799,311 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 100,660,133 |
Total Distributable Earnings (Loss) | 8,002,350 |
Net Assets | 108,662,483 |
Investor Shares—Net Assets | |
Applicable to 5,124,882 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 432,466 |
Net Asset Value Per Share—Investor Shares | $84.39 |
ETF Shares—Net Assets | |
Applicable to 221,319,304 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 38,980,578 |
Net Asset Value Per Share—ETF Shares | $176.13 |
Admiral Shares—Net Assets | |
Applicable to 507,445,967 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 42,826,861 |
Net Asset Value Per Share—Admiral Shares | $84.40 |
Institutional Shares—Net Assets | |
Applicable to 197,398,980 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,659,218 |
Net Asset Value Per Share—Institutional Shares | $84.39 |
Institutional Plus Shares—Net Assets | |
Applicable to 40,081,072 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 9,763,360 |
Net Asset Value Per Share—Institutional Plus Shares | $243.59 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 717,624 |
Interest2 | 1,602 |
Securities Lending—Net | 22,423 |
Total Income | 741,649 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,005 |
Management and Administrative—Investor Shares | 415 |
Management and Administrative—ETF Shares | 9,243 |
Management and Administrative—Admiral Shares | 10,354 |
Management and Administrative—Institutional Shares | 3,131 |
Management and Administrative—Institutional Plus Shares | 1,307 |
Marketing and Distribution—Investor Shares | 18 |
Marketing and Distribution—ETF Shares | 836 |
Marketing and Distribution—Admiral Shares | 995 |
Marketing and Distribution—Institutional Shares | 329 |
Marketing and Distribution—Institutional Plus Shares | 197 |
Custodian Fees | 444 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 577 |
Shareholders’ Reports—Admiral Shares | 274 |
Shareholders’ Reports—Institutional Shares | 104 |
Shareholders’ Reports—Institutional Plus Shares | 35 |
Trustees’ Fees and Expenses | 32 |
Other Expenses | 18 |
Total Expenses | 29,315 |
Expenses Paid Indirectly | (16) |
Net Expenses | 29,299 |
Net Investment Income | 712,350 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 1,406,927 |
Futures Contracts | (126,024) |
Swap Contracts | (20,643) |
Realized Net Gain (Loss) | 1,260,260 |
Statement of Operations (continued) | |
Six Months Ended June 30, 2022 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (32,111,561) |
Futures Contracts | (53,994) |
Swap Contracts | (18,574) |
Change in Unrealized Appreciation (Depreciation) | (32,184,129) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (30,211,519) |
1 | Dividends are net of foreign withholding taxes of $24,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,602,000, ($298,000), and ($155,000), respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $3,687,883,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 712,350 | 1,718,894 | |
Realized Net Gain (Loss) | 1,260,260 | 10,495,579 | |
Change in Unrealized Appreciation (Depreciation) | (32,184,129) | 8,205,881 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (30,211,519) | 20,420,354 | |
Distributions | |||
Investor Shares | (2,573) | (8,073) | |
ETF Shares | (255,164) | (596,413) | |
Admiral Shares | (278,288) | (684,429) | |
Institutional Shares | (108,688) | (275,247) | |
Institutional Plus Shares | (64,126) | (153,202) | |
Total Distributions | (708,839) | (1,717,364) | |
Capital Share Transactions | |||
Investor Shares | (58,677) | (201,756) | |
ETF Shares | (104,939) | 6,570,091 | |
Admiral Shares | (259,299) | 234,027 | |
Institutional Shares | (441,127) | (197,115) | |
Institutional Plus Shares | (103,528) | 799,184 | |
Net Increase (Decrease) from Capital Share Transactions | (967,570) | 7,204,431 | |
Total Increase (Decrease) | (31,887,928) | 25,907,421 | |
Net Assets | |||
Beginning of Period | 140,550,411 | 114,642,990 | |
End of Period | 108,662,483 | 140,550,411 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $108.35 | $93.20 | $79.35 | $63.21 | $70.76 | $61.75 |
Investment Operations | ||||||
Net Investment Income1 | .490 | 1.230 | .928 | .832 | .967 | .876 |
Net Realized and Unrealized Gain (Loss) on Investments | (23.961) | 15.130 | 13.897 | 16.319 | (7.552) | 9.011 |
Total from Investment Operations | (23.471) | 16.360 | 14.825 | 17.151 | (6.585) | 9.887 |
Distributions | ||||||
Dividends from Net Investment Income | (.489) | (1.210) | (.975) | (1.011) | (.965) | (.877) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.489) | (1.210) | (.975) | (1.011) | (.965) | (.877) |
Net Asset Value, End of Period | $84.39 | $108.35 | $93.20 | $79.35 | $63.21 | $70.76 |
Total Return2 | -21.70% | 17.59% | 18.96% | 27.22% | -9.43% | 16.10% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $432 | $619 | $709 | $754 | $3,332 | $4,345 |
Ratio of Total Expenses to Average Net Assets | 0.17%3 | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
Ratio of Net Investment Income to Average Net Assets | 1.12% | 1.17% | 1.26% | 1.14% | 1.34% | 1.36% |
Portfolio Turnover Rate4 | 7% | 17% | 22% | 16% | 15% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.17%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $226.15 | $194.54 | $165.64 | $131.94 | $147.71 | $128.90 |
Investment Operations | ||||||
Net Investment Income1 | 1.151 | 2.769 | 2.262 | 2.298 | 2.239 | 2.037 |
Net Realized and Unrealized Gain (Loss) on Investments | (50.025) | 31.637 | 28.863 | 33.707 | (15.808) | 18.768 |
Total from Investment Operations | (48.874) | 34.406 | 31.125 | 36.005 | (13.569) | 20.805 |
Distributions | ||||||
Dividends from Net Investment Income | (1.146) | (2.796) | (2.225) | (2.305) | (2.201) | (1.995) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.146) | (2.796) | (2.225) | (2.305) | (2.201) | (1.995) |
Net Asset Value, End of Period | $176.13 | $226.15 | $194.54 | $165.64 | $131.94 | $147.71 |
Total Return | -21.65% | 17.72% | 19.08% | 27.37% | -9.30% | 16.24% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $38,981 | $50,187 | $37,492 | $27,442 | $20,914 | $21,605 |
Ratio of Total Expenses to Average Net Assets | 0.05%2 | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.25% | 1.25% | 1.47% | 1.49% | 1.46% | 1.48% |
Portfolio Turnover Rate3 | 7% | 17% | 22% | 16% | 15% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $108.37 | $93.22 | $79.37 | $63.23 | $70.78 | $61.77 |
Investment Operations | ||||||
Net Investment Income1 | .549 | 1.358 | 1.029 | 1.108 | 1.067 | .970 |
Net Realized and Unrealized Gain (Loss) on Investments | (23.970) | 15.131 | 13.887 | 16.136 | (7.563) | 8.997 |
Total from Investment Operations | (23.421) | 16.489 | 14.916 | 17.244 | (6.496) | 9.967 |
Distributions | ||||||
Dividends from Net Investment Income | (.549) | (1.339) | (1.066) | (1.104) | (1.054) | (.957) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.549) | (1.339) | (1.066) | (1.104) | (1.054) | (.957) |
Net Asset Value, End of Period | $84.40 | $108.37 | $93.22 | $79.37 | $63.23 | $70.78 |
Total Return2 | -21.65% | 17.73% | 19.11% | 27.37% | -9.31% | 16.24% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $42,827 | $55,266 | $47,313 | $42,386 | $31,382 | $33,801 |
Ratio of Total Expenses to Average Net Assets | 0.05%3 | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.24% | 1.29% | 1.40% | 1.50% | 1.46% | 1.48% |
Portfolio Turnover Rate4 | 7% | 17% | 22% | 16% | 15% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $108.36 | $93.22 | $79.37 | $63.22 | $70.78 | $61.77 |
Investment Operations | ||||||
Net Investment Income1 | .554 | 1.367 | 1.034 | 1.101 | 1.076 | .975 |
Net Realized and Unrealized Gain (Loss) on Investments | (23.970) | 15.123 | 13.889 | 16.161 | (7.575) | 8.998 |
Total from Investment Operations | (23.416) | 16.490 | 14.923 | 17.262 | (6.499) | 9.973 |
Distributions | ||||||
Dividends from Net Investment Income | (.554) | (1.350) | (1.073) | (1.112) | (1.061) | (.963) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.554) | (1.350) | (1.073) | (1.112) | (1.061) | (.963) |
Net Asset Value, End of Period | $84.39 | $108.36 | $93.22 | $79.37 | $63.22 | $70.78 |
Total Return | -21.65% | 17.73% | 19.12% | 27.40% | -9.32% | 16.25% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $16,659 | $21,841 | $18,957 | $17,337 | $14,454 | $15,352 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.25% | 1.29% | 1.41% | 1.49% | 1.47% | 1.49% |
Portfolio Turnover Rate3 | 7% | 17% | 22% | 16% | 15% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $312.78 | $269.07 | $229.09 | $182.49 | $204.30 | $178.28 |
Investment Operations | ||||||
Net Investment Income1 | 1.612 | 4.029 | 2.988 | 3.186 | 3.102 | 2.835 |
Net Realized and Unrealized Gain (Loss) on Investments | (69.189) | 43.607 | 40.111 | 46.645 | (21.825) | 25.980 |
Total from Investment Operations | (67.577) | 47.636 | 43.099 | 49.831 | (18.723) | 28.815 |
Distributions | ||||||
Dividends from Net Investment Income | (1.613) | (3.926) | (3.119) | (3.231) | (3.087) | (2.795) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.613) | (3.926) | (3.119) | (3.231) | (3.087) | (2.795) |
Net Asset Value, End of Period | $243.59 | $312.78 | $269.07 | $229.09 | $182.49 | $204.30 |
Total Return | -21.65% | 17.75% | 19.13% | 27.40% | -9.30% | 16.27% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $9,763 | $12,638 | $10,172 | $8,846 | $7,866 | $9,531 |
Ratio of Total Expenses to Average Net Assets | 0.03%2 | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.26% | 1.32% | 1.41% | 1.49% | 1.48% | 1.50% |
Portfolio Turnover Rate3 | 7% | 17% | 22% | 16% | 15% | 15% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.03%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended June 30, 2022, custodian fee offset arrangements reduced the fund’s expenses by $16,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 107,907,155 | — | 573 | 107,907,728 |
Temporary Cash Investments | 2,788,777 | — | — | 2,788,777 |
Total | 110,695,932 | — | 573 | 110,696,505 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 1,213 | — | 1,213 |
Liabilities | ||||
Futures Contracts1 | 38,518 | — | — | 38,518 |
Swap Contracts | — | 11,437 | — | 11,437 |
Total | 38,518 | 11,437 | — | 49,955 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | As of June 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 98,734,120 |
Gross Unrealized Appreciation | 29,949,097 |
Gross Unrealized Depreciation | (18,035,454) |
Net Unrealized Appreciation (Depreciation) | 11,913,643 |
F. | During the six months ended June 30, 2022, the fund purchased $15,659,445,000 of investment securities and sold $16,471,142,000 of investment securities, other than temporary cash investments. Purchases and sales include $7,079,455,000 and $7,206,960,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares. |
G. | Capital share transactions for each class of shares were: |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 21,967 | 227 | 83,822 | 804 | |
Issued in Lieu of Cash Distributions | 2,573 | 28 | 8,073 | 77 | |
Redeemed | (83,217) | (842) | (293,651) | (2,772) | |
Net Increase (Decrease)—Investor Shares | (58,677) | (587) | (201,756) | (1,891) | |
ETF Shares | |||||
Issued | 7,366,311 | 38,126 | 19,022,966 | 85,746 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (7,471,250) | (38,725) | (12,452,875) | (56,550) | |
Net Increase (Decrease)—ETF Shares | (104,939) | (599) | 6,570,091 | 29,196 | |
Admiral Shares | |||||
Issued | 3,299,411 | 34,090 | 8,639,338 | 82,503 | |
Issued in Lieu of Cash Distributions | 246,643 | 2,689 | 609,812 | 5,775 | |
Redeemed | (3,805,353) | (39,316) | (9,015,123) | (85,813) | |
Net Increase (Decrease)—Admiral Shares | (259,299) | (2,537) | 234,027 | 2,465 | |
Institutional Shares | |||||
Issued | 1,650,881 | 17,071 | 4,948,740 | 47,094 | |
Issued in Lieu of Cash Distributions | 102,218 | 1,115 | 260,028 | 2,463 | |
Redeemed | (2,194,226) | (22,335) | (5,405,883) | (51,369) | |
Net Increase (Decrease)—Institutional Shares | (441,127) | (4,149) | (197,115) | (1,812) | |
Institutional Plus Shares | |||||
Issued | 568,283 | 2,022 | 3,027,331 | 9,968 | |
Issued in Lieu of Cash Distributions | 64,126 | 242 | 153,202 | 502 | |
Redeemed | (735,937) | (2,589) | (2,381,349) | (7,870) | |
Net Increase (Decrease)—Institutional Plus Shares | (103,528) | (325) | 799,184 | 2,600 |
H. | Management has determined that no events or transactions occurred subsequent to June 30, 2022, that would require recognition or disclosure in these financial statements. |
Basic Materials | 2.0% |
Consumer Discretionary | 14.5 |
Consumer Staples | 2.9 |
Energy | 4.3 |
Financials | 5.0 |
Health Care | 20.6 |
Industrials | 18.3 |
Real Estate | 8.6 |
Technology | 20.2 |
Telecommunications | 1.9 |
Utilities | 1.7 |
Shares | Market Value• ($000) | |||||
Common Stocks (100.0%) | ||||||
Basic Materials (2.0%) | ||||||
Royal Gold Inc. | 981,813 | 104,838 | ||||
* | RBC Bearings Inc. | 431,747 | 79,852 | |||
Hexcel Corp. | 1,256,691 | 65,738 | ||||
Balchem Corp. | 432,366 | 56,095 | ||||
* | Livent Corp. | 2,418,316 | 54,872 | |||
* | MP Materials Corp. | 1,460,149 | 46,842 | |||
* | Ingevity Corp. | 579,637 | 36,598 | |||
NewMarket Corp. | 115,113 | 34,644 | ||||
Quaker Chemical Corp. | 200,924 | 30,042 | ||||
*,1 | Amyris Inc. | 3,075,890 | 5,690 | |||
* | Century Aluminum Co. | 742,732 | 5,474 | |||
520,685 | ||||||
Consumer Discretionary (14.5%) | ||||||
* | Liberty Media Corp.-Liberty Formula One Class C | 2,907,483 | 184,538 | |||
* | Deckers Outdoor Corp. | 407,325 | 104,010 | |||
Pool Corp. | 284,585 | 99,955 | ||||
Gentex Corp. | 3,505,286 | 98,043 | ||||
Churchill Downs Inc. | 511,608 | 97,988 | ||||
* | Floor & Decor Holdings Inc. Class A | 1,503,608 | 94,667 | |||
* | Five Below Inc. | 829,906 | 94,136 | |||
Nexstar Media Group Inc. Class A | 573,958 | 93,486 | ||||
Wyndham Hotels & Resorts Inc. | 1,377,199 | 90,510 | ||||
* | Planet Fitness Inc. Class A | 1,269,574 | 86,344 | |||
* | SiteOne Landscape Supply Inc. | 671,734 | 79,849 | |||
* | Penn National Gaming Inc. | 2,494,915 | 75,895 | |||
* | Bright Horizons Family Solutions Inc. | 888,024 | 75,056 | |||
Texas Roadhouse Inc. Class A | 1,019,274 | 74,611 | ||||
* | Skechers USA Inc. Class A | 2,017,360 | 71,778 | |||
* | Light & Wonder Inc. | 1,430,237 | 67,207 |
Shares | Market Value• ($000) | |||||
Vail Resorts Inc. | 303,201 | 66,113 | ||||
* | IAA Inc. | 2,003,072 | 65,641 | |||
Choice Hotels International Inc. | 583,897 | 65,180 | ||||
*,1 | DraftKings Inc. Class A | 5,558,400 | 64,867 | |||
* | RH | 294,972 | 62,611 | |||
Boyd Gaming Corp. | 1,146,753 | 57,051 | ||||
* | Hyatt Hotels Corp. Class A | 728,682 | 53,857 | |||
Tempur Sealy International Inc. | 2,493,870 | 53,294 | ||||
* | YETI Holdings Inc. | 1,222,218 | 52,885 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 891,447 | 52,373 | |||
* | Fox Factory Holding Corp. | 629,978 | 50,738 | |||
* | Hilton Grand Vacations Inc. | 1,348,655 | 48,187 | |||
* | Grand Canyon Education Inc. | 483,154 | 45,508 | |||
* | Dorman Products Inc. | 399,683 | 43,849 | |||
* | Visteon Corp. | 420,262 | 43,531 | |||
* | Crocs Inc. | 874,334 | 42,554 | |||
* | Callaway Golf Co. | 2,071,387 | 42,256 | |||
LCI Industries | 360,929 | 40,381 | ||||
World Wrestling Entertainment Inc. Class A | 645,617 | 40,345 | ||||
Papa John's International Inc. | 481,618 | 40,225 | ||||
* | Peloton Interactive Inc. Class A | 4,364,423 | 40,065 | |||
* | Skyline Champion Corp. | 807,201 | 38,278 | |||
Columbia Sportswear Co. | 517,318 | 37,030 | ||||
* | Madison Square Garden Sports Corp. | 235,798 | 35,606 | |||
* | Sonos Inc. | 1,911,650 | 34,486 | |||
* | Chegg Inc. | 1,787,668 | 33,572 | |||
Wingstop Inc. | 446,623 | 33,394 | ||||
* | Leslie's Inc. | 2,050,977 | 31,134 | |||
* | Gentherm Inc. | 495,448 | 30,921 | |||
* | Frontdoor Inc. | 1,230,210 | 29,623 |
Shares | Market Value• ($000) | |||||
* | SeaWorld Entertainment Inc. | 651,784 | 28,796 | |||
* | Lyft Inc. Class A | 2,156,360 | 28,636 | |||
Ralph Lauren Corp. | 304,182 | 27,270 | ||||
* | TripAdvisor Inc. | 1,517,505 | 27,012 | |||
* | LGI Homes Inc. | 300,993 | 26,156 | |||
*,1 | QuantumScape Corp. Class A | 3,040,652 | 26,119 | |||
Red Rock Resorts Inc. Class A | 781,843 | 26,082 | ||||
* | Allegiant Travel Co. | 229,666 | 25,973 | |||
* | Six Flags Entertainment Corp. | 1,163,901 | 25,257 | |||
* | Wayfair Inc. Class A | 565,174 | 24,619 | |||
* | Shake Shack Inc. Class A | 558,170 | 22,037 | |||
* | Madison Square Garden Entertainment Corp. | 409,752 | 21,561 | |||
* | Coursera Inc. | 1,510,758 | 21,423 | |||
Levi Strauss & Co. Class A | 1,306,566 | 21,323 | ||||
* | Driven Brands Holdings Inc. | 753,293 | 20,746 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 355,343 | 20,599 | |||
* | Dave & Buster's Entertainment Inc. | 583,770 | 19,136 | |||
*,1 | Luminar Technologies Inc. Class A | 3,028,730 | 17,960 | |||
Jack in the Box Inc. | 313,593 | 17,580 | ||||
*,1 | Petco Health & Wellness Co. Inc. Class A | 1,186,363 | 17,487 | |||
Steven Madden Ltd. | 535,835 | 17,259 | ||||
* | Figs Inc. Class A | 1,894,550 | 17,259 | |||
* | Carvana Co. | 748,145 | 16,893 | |||
* | National Vision Holdings Inc. | 607,935 | 16,718 | |||
*,1 | Overstock.com Inc. | 646,748 | 16,175 | |||
*,1 | Dutch Bros Inc. Class A | 501,331 | 15,867 | |||
* | Revolve Group Inc. Class A | 607,067 | 15,729 | |||
* | Boot Barn Holdings Inc. | 221,784 | 15,283 | |||
*,1 | Sweetgreen Inc. Class A | 1,289,519 | 15,023 | |||
* | iRobot Corp. | 404,316 | 14,859 | |||
* | Sabre Corp. | 2,434,721 | 14,194 | |||
*,1 | Duolingo Inc. Class A | 154,232 | 13,503 | |||
*,1 | Fisker Inc. Class A | 1,548,251 | 13,269 | |||
* | Cavco Industries Inc. | 65,097 | 12,758 | |||
* | Stride Inc. | 304,185 | 12,408 | |||
* | Mister Car Wash Inc. | 1,130,058 | 12,295 | |||
*,1 | ContextLogic Inc. Class A | 7,677,272 | 12,284 | |||
1 | Camping World Holdings Inc. Class A | 560,920 | 12,110 | |||
* | 2U Inc. | 1,104,620 | 11,565 | |||
* | elf Beauty Inc. | 370,798 | 11,376 | |||
* | EW Scripps Co. Class A | 907,722 | 11,319 |
Shares | Market Value• ($000) | |||||
* | ACV Auctions Inc. Class A | 1,687,936 | 11,039 | |||
Monro Inc. | 239,109 | 10,253 | ||||
* | Sleep Number Corp. | 316,857 | 9,807 | |||
Inter Parfums Inc. | 131,357 | 9,597 | ||||
* | Sun Country Airlines Holdings Inc. | 479,270 | 8,790 | |||
Dine Brands Global Inc. | 119,801 | 7,797 | ||||
*,1 | Corsair Gaming Inc. | 574,519 | 7,543 | |||
* | Stitch Fix Inc. Class A | 1,105,539 | 5,461 | |||
*,1 | Allbirds Inc. Class A | 1,385,050 | 5,443 | |||
* | Cardlytics Inc. | 227,235 | 5,070 | |||
* | Sciplay Corp. Class A | 346,840 | 4,845 | |||
*,1 | Portillo's Inc. Class A | 291,844 | 4,772 | |||
* | Integral Ad Science Holding Corp. | 459,135 | 4,559 | |||
*,1 | Frontier Group Holdings Inc. | 482,858 | 4,524 | |||
* | Angi Inc. Class A | 950,745 | 4,354 | |||
* | Latham Group Inc. | 619,516 | 4,293 | |||
*,1 | Canoo Inc. | 2,313,156 | 4,279 | |||
* | Poshmark Inc. Class A | 396,514 | 4,009 | |||
* | Rush Street Interactive Inc. | 756,994 | 3,535 | |||
*,1 | Dream Finders Homes Inc. Class A | 287,555 | �� 3,060 | |||
*,1 | Bed Bath & Beyond Inc. | 472,368 | 2,348 | |||
* | Vizio Holding Corp. Class A | 342,805 | 2,338 | |||
* | Selectquote Inc. | 912,366 | 2,263 | |||
* | Quotient Technology Inc. | 634,154 | 1,883 | |||
* | RealReal Inc. | 594,349 | 1,480 | |||
* | Arhaus Inc. Class A | 313,469 | 1,411 | |||
*,1 | Solo Brands Inc. Class A | 281,462 | 1,143 | |||
* | ThredUp Inc. Class A | 412,938 | 1,032 | |||
* | Traeger Inc. | 218,714 | 930 | |||
*,1 | Bowlero Corp. | 79,330 | 840 | |||
* | Brilliant Earth Group Inc. Class A | 159,967 | 760 | |||
3,767,004 | ||||||
Consumer Staples (2.9%) | ||||||
* | Darling Ingredients Inc. | 2,414,870 | 144,409 | |||
Casey's General Stores Inc. | 554,943 | 102,653 | ||||
* | Simply Good Foods Co. | 1,275,709 | 48,184 | |||
* | BellRing Brands Inc. | 1,733,240 | 43,140 | |||
* | Boston Beer Co. Inc. Class A | 137,462 | 41,647 | |||
WD-40 Co. | 204,351 | 41,148 | ||||
* | Celsius Holdings Inc. | 619,582 | 40,434 | |||
Coca-Cola Consolidated Inc. | 68,850 | 38,825 | ||||
* | Freshpet Inc. | 679,066 | 35,237 | |||
* | Post Holdings Inc. | 409,139 | 33,693 | |||
Medifast Inc. | 172,179 | 31,080 | ||||
Cal-Maine Foods Inc. | 594,428 | 29,371 |
Shares | Market Value• ($000) | |||||
J & J Snack Foods Corp. | 172,334 | 24,068 | ||||
*,1 | Beyond Meat Inc. | 857,163 | 20,521 | |||
Lancaster Colony Corp. | 143,597 | 18,492 | ||||
National Beverage Corp. | 348,213 | 17,042 | ||||
* | USANA Health Sciences Inc. | 172,048 | 12,449 | |||
* | Beauty Health Co. | 734,171 | 9,441 | |||
* | Sovos Brands Inc. | 373,374 | 5,925 | |||
Tootsie Roll Industries Inc. | 104,802 | 3,705 | ||||
* | Honest Co. Inc. | 388,789 | 1,135 | |||
* | Vital Farms Inc. | 120,276 | 1,052 | |||
*,1 | BRC Inc. Class A | 48,797 | 398 | |||
744,049 | ||||||
Energy (4.3%) | ||||||
Texas Pacific Land Corp. | 92,595 | 137,783 | ||||
Targa Resources Corp. | 1,703,632 | 101,656 | ||||
PDC Energy Inc. | 1,484,096 | 91,435 | ||||
EQT Corp. | 2,486,172 | 85,524 | ||||
Matador Resources Co. | 1,677,677 | 78,163 | ||||
ChampionX Corp. | 3,041,960 | 60,383 | ||||
Magnolia Oil & Gas Corp. Class A | 2,576,071 | 54,072 | ||||
*,1 | ChargePoint Holdings Inc. | 3,766,311 | 51,561 | |||
* | Denbury Inc. | 715,366 | 42,915 | |||
Civitas Resources Inc. | 762,073 | 39,849 | ||||
Cactus Inc. Class A | 859,315 | 34,605 | ||||
SM Energy Co. | 911,038 | 31,148 | ||||
New Fortress Energy Inc. Class A | 775,726 | 30,695 | ||||
* | Liberty Energy Inc. Class A | 2,096,542 | 26,752 | |||
Enviva Inc. | 448,060 | 25,638 | ||||
* | Callon Petroleum Co. | 645,942 | 25,321 | |||
* | Array Technologies Inc. | 2,136,201 | 23,520 | |||
* | Ameresco Inc. Class A | 456,228 | 20,786 | |||
* | FuelCell Energy Inc. | 5,192,685 | 19,472 | |||
* | Oceaneering International Inc. | 1,496,435 | 15,982 | |||
Alpha Metallurgical Resources Inc. | 118,508 | 15,303 | ||||
* | Shoals Technologies Group Inc. Class A | 921,428 | 15,185 | |||
* | NexTier Oilfield Solutions Inc. | 1,548,626 | 14,727 | |||
* | Dril-Quip Inc. | 516,004 | 13,313 | |||
* | Tellurian Inc. | 3,816,711 | 11,374 | |||
* | Stem Inc. | 1,101,870 | 7,889 | |||
* | RPC Inc. | 1,139,298 | 7,872 | |||
* | Comstock Resources Inc. | 612,580 | 7,400 | |||
Kinetik Holdings Inc. Class A | 98,481 | 3,362 | ||||
* | Helix Energy Solutions Group Inc. | 1,064,757 | 3,301 |
Shares | Market Value• ($000) | |||||
*,1 | EVgo Inc. | 510,777 | 3,070 | |||
*,1 | ProFrac Holding Corp. Class A | 118,440 | 2,169 | |||
1,102,225 | ||||||
Financials (5.0%) | ||||||
LPL Financial Holdings Inc. | 567,824 | 104,752 | ||||
Morningstar Inc. | 383,332 | 92,701 | ||||
* | Alleghany Corp. | 95,474 | 79,539 | |||
Pinnacle Financial Partners Inc. | 1,084,988 | 78,455 | ||||
Kinsale Capital Group Inc. | 325,299 | 74,702 | ||||
*,1 | Robinhood Markets Inc. Class A | 8,896,972 | 73,133 | |||
Erie Indemnity Co. Class A | 379,757 | 72,986 | ||||
1 | Blue Owl Capital Inc. Class A | 6,256,509 | 62,753 | |||
ServisFirst Bancshares Inc. | 730,640 | 57,662 | ||||
Western Alliance Bancorp | 768,894 | 54,284 | ||||
*,1 | SoFi Technologies Inc. | 10,268,429 | 54,115 | |||
* | Credit Acceptance Corp. | 98,221 | 46,499 | |||
Virtu Financial Inc. Class A | 1,496,335 | 35,029 | ||||
* | Trupanion Inc. | 547,792 | 33,010 | |||
*,1 | Upstart Holdings Inc. | 1,012,614 | 32,019 | |||
Hamilton Lane Inc. Class A | 472,587 | 31,748 | ||||
Houlihan Lokey Inc. Class A | 378,585 | 29,882 | ||||
* | Focus Financial Partners Inc. Class A | 733,438 | 24,981 | |||
* | Silvergate Capital Corp. Class A | 449,661 | 24,070 | |||
PJT Partners Inc. Class A | 331,805 | 23,319 | ||||
Cohen & Steers Inc. | 364,610 | 23,186 | ||||
* | BRP Group Inc. Class A | 841,622 | 20,325 | |||
StepStone Group Inc. Class A | 774,663 | 20,164 | ||||
Ameris Bancorp | 491,618 | 19,753 | ||||
* | Open Lending Corp. Class A | 1,601,674 | 16,385 | |||
Goosehead Insurance Inc. Class A | 275,064 | 12,562 | ||||
TFS Financial Corp. | 840,787 | 11,544 | ||||
* | Palomar Holdings Inc. | 179,143 | 11,537 | |||
* | Triumph Bancorp Inc. | 178,874 | 11,190 | |||
*,1 | Lemonade Inc. | 609,343 | 11,127 | |||
Live Oak Bancshares Inc. | 247,950 | 8,403 | ||||
*,1 | Marathon Digital Holdings Inc. | 1,517,425 | 8,103 | |||
*,1 | Oscar Health Inc. Class A | 1,851,996 | 7,871 | |||
*,1 | Riot Blockchain Inc. | 1,815,217 | 7,606 | |||
* | LendingTree Inc. | 163,420 | 7,161 | |||
TPG Inc. Class A | 288,404 | 6,896 | ||||
P10 Inc. Class A | 528,927 | 5,882 |
Shares | Market Value• ($000) | |||||
* | AssetMark Financial Holdings Inc. | 163,365 | 3,066 | |||
* | Clearwater Analytics Holdings Inc. Class A | 246,605 | 2,969 | |||
*,1 | Hagerty Inc. Class A | 96,834 | 1,113 | |||
1,302,482 | ||||||
Health Care (20.6%) | ||||||
Bio-Techne Corp. | 586,505 | 203,306 | ||||
* | Neurocrine Biosciences Inc. | 1,428,951 | 139,294 | |||
* | Repligen Corp. | 828,749 | 134,589 | |||
* | Syneos Health Inc. | 1,533,524 | 109,923 | |||
Chemed Corp. | 223,804 | 105,051 | ||||
* | Exelixis Inc. | 4,795,269 | 99,838 | |||
Bruker Corp. | 1,561,963 | 98,029 | ||||
* | Masimo Corp. | 746,839 | 97,589 | |||
* | Shockwave Medical Inc. | 508,327 | 97,177 | |||
* | Sarepta Therapeutics Inc. | 1,242,763 | 93,158 | |||
* | Halozyme Therapeutics Inc. | 2,062,279 | 90,740 | |||
* | Charles River Laboratories International Inc. | 379,735 | 81,252 | |||
* | Novocure Ltd. | 1,149,116 | 79,864 | |||
* | HealthEquity Inc. | 1,261,481 | 77,442 | |||
* | Inspire Medical Systems Inc. | 412,434 | 75,339 | |||
* | Omnicell Inc. | 660,793 | 75,165 | |||
* | Alkermes plc | 2,443,380 | 72,788 | |||
* | Intra-Cellular Therapies Inc. | 1,269,206 | 72,446 | |||
* | LHC Group Inc. | 440,606 | 68,620 | |||
* | QuidelOrtho Corp. | 700,547 | 68,079 | |||
* | Ionis Pharmaceuticals Inc. | 1,801,923 | 66,707 | |||
* | Penumbra Inc. | 535,067 | 66,627 | |||
* | Globus Medical Inc. Class A | 1,185,366 | 66,546 | |||
* | Lantheus Holdings Inc. | 974,801 | 64,366 | |||
* | Apellis Pharmaceuticals Inc. | 1,353,652 | 61,212 | |||
* | Medpace Holdings Inc. | 402,416 | 60,230 | |||
* | Option Care Health Inc. | 2,153,407 | 59,843 | |||
* | Ultragenyx Pharmaceutical Inc. | 993,133 | 59,250 | |||
* | Guardant Health Inc. | 1,447,574 | 58,395 | |||
Ensign Group Inc. | 788,051 | 57,898 | ||||
* | 10X Genomics Inc. Class A | 1,263,721 | 57,183 | |||
* | Integra LifeSciences Holdings Corp. | 1,056,453 | 57,080 | |||
* | Tandem Diabetes Care Inc. | 956,082 | 56,591 | |||
* | ICU Medical Inc. | 339,367 | 55,789 | |||
* | Arrowhead Pharmaceuticals Inc. | 1,501,625 | 52,872 | |||
* | Intellia Therapeutics Inc. | 1,020,398 | 52,816 |
Shares | Market Value• ($000) | |||||
* | Amedisys Inc. | 486,998 | 51,193 | |||
* | STAAR Surgical Co. | 714,715 | 50,695 | |||
* | Haemonetics Corp. | 766,697 | 49,973 | |||
* | Cytokinetics Inc. | 1,216,453 | 47,794 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 1,671,760 | 47,495 | |||
* | Merit Medical Systems Inc. | 847,331 | 45,985 | |||
* | Natera Inc. | 1,295,916 | 45,927 | |||
* | iRhythm Technologies Inc. | 423,143 | 45,712 | |||
* | Amicus Therapeutics Inc. | 4,188,583 | 44,985 | |||
* | Blueprint Medicines Corp. | 890,433 | 44,976 | |||
*,1 | Doximity Inc. Class A | 1,259,437 | 43,854 | |||
* | R1 RCM Inc. | 2,091,421 | 43,836 | |||
* | Inari Medical Inc. | 635,211 | 43,188 | |||
* | PTC Therapeutics Inc. | 1,066,469 | 42,723 | |||
CONMED Corp. | 441,241 | 42,253 | ||||
*,1 | Neogen Corp. | 1,611,864 | 38,830 | |||
* | NuVasive Inc. | 778,122 | 38,253 | |||
* | Denali Therapeutics Inc. | 1,286,774 | 37,870 | |||
* | Evolent Health Inc. Class A | 1,232,430 | 37,848 | |||
* | Pacira BioSciences Inc. | 645,080 | 37,608 | |||
* | Teladoc Health Inc. | 1,084,109 | 36,003 | |||
* | Certara Inc. | 1,672,818 | 35,899 | |||
* | Insmed Inc. | 1,786,613 | 35,232 | |||
*,1 | Ginkgo Bioworks Holdings Inc. | 14,714,371 | 35,020 | |||
* | Beam Therapeutics Inc. | 840,339 | 32,530 | |||
* | Global Blood Therapeutics Inc. | 973,393 | 31,100 | |||
* | Glaukos Corp. | 672,431 | 30,542 | |||
* | Fate Therapeutics Inc. | 1,228,597 | 30,445 | |||
* | Corcept Therapeutics Inc. | 1,271,032 | 30,225 | |||
*,1 | Novavax Inc. | 584,140 | 30,042 | |||
* | Progyny Inc. | 1,031,358 | 29,961 | |||
* | Sotera Health Co. | 1,480,045 | 28,994 | |||
* | Vir Biotechnology Inc. | 1,088,943 | 27,735 | |||
* | AtriCure Inc. | 658,235 | 26,896 | |||
* | Arvinas Inc. | 636,452 | 26,788 | |||
* | Oak Street Health Inc. | 1,622,777 | 26,678 | |||
* | Twist Bioscience Corp. | 757,926 | 26,497 | |||
* | ACADIA Pharmaceuticals Inc. | 1,811,993 | 25,531 | |||
* | Xencor Inc. | 887,523 | 24,292 | |||
* | Sage Therapeutics Inc. | 751,809 | 24,283 | |||
* | ChemoCentryx Inc. | 959,157 | 23,768 | |||
* | Nevro Corp. | 527,925 | 23,139 | |||
* | Apollo Medical Holdings Inc. | 587,660 | 22,678 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 1,958,592 | 22,583 |
Shares | Market Value• ($000) | |||||
* | Harmony Biosciences Holdings Inc. | 442,417 | 21,577 | |||
* | CorVel Corp. | 145,307 | 21,399 | |||
* | Privia Health Group Inc. | 732,452 | 21,329 | |||
* | Veracyte Inc. | 1,071,360 | 21,320 | |||
* | 1Life Healthcare Inc. | 2,617,039 | 20,518 | |||
* | Cerevel Therapeutics Holdings Inc. | 773,519 | 20,452 | |||
* | Zentalis Pharmaceuticals Inc. | 722,340 | 20,298 | |||
* | Relay Therapeutics Inc. | 1,133,557 | 18,987 | |||
* | Silk Road Medical Inc. | 500,945 | 18,229 | |||
* | AdaptHealth Corp. Class A | 1,001,238 | 18,062 | |||
* | Surgery Partners Inc. | 603,290 | 17,447 | |||
* | REVOLUTION Medicines Inc. | �� 893,551 | 17,415 | |||
* | CareDx Inc. | 793,853 | 17,052 | |||
* | Axonics Inc. | 298,705 | 16,928 | |||
* | Allogene Therapeutics Inc. | 1,392,829 | 15,878 | |||
* | Adaptive Biotechnologies Corp. | 1,927,564 | 15,594 | |||
*,1 | PROCEPT BioRobotics Corp. | 460,827 | 15,064 | |||
* | BioCryst Pharmaceuticals Inc. | 1,386,525 | 14,669 | |||
* | Signify Health Inc. Class A | 1,053,154 | 14,534 | |||
* | NeoGenomics Inc. | 1,770,958 | 14,433 | |||
* | REGENXBIO Inc. | 581,588 | 14,365 | |||
* | Vaxcyte Inc. | 652,758 | 14,204 | |||
* | Innoviva Inc. | 936,866 | 13,828 | |||
*,1 | Warby Parker Inc. Class A | 1,218,673 | 13,722 | |||
* | FibroGen Inc. | 1,255,510 | 13,258 | |||
*,1 | Lyell Immunopharma Inc. | 2,026,494 | 13,213 | |||
* | Alignment Healthcare Inc. | 1,119,825 | 12,777 | |||
* | Editas Medicine Inc. | 1,027,115 | 12,151 | |||
* | American Well Corp. Class A | 2,789,566 | 12,051 | |||
* | Cytek Biosciences Inc. | 1,106,172 | 11,869 | |||
* | Health Catalyst Inc. | 771,599 | 11,180 | |||
* | Supernus Pharmaceuticals Inc. | 380,103 | 10,993 | |||
* | SpringWorks Therapeutics Inc. | 445,403 | 10,966 | |||
* | Embecta Corp. | 431,915 | 10,936 | |||
*,1 | Clover Health Investments Corp. Class A | 5,102,347 | 10,919 | |||
* | Ligand Pharmaceuticals Inc. | 120,193 | 10,724 | |||
* | Outset Medical Inc. | 716,352 | 10,645 | |||
* | Nektar Therapeutics | 2,792,756 | 10,613 | |||
* | Emergent BioSolutions Inc. | 339,042 | 10,524 |
Shares | Market Value• ($000) | |||||
* | Agiliti Inc. | 497,637 | 10,207 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 1,231,041 | 10,021 | |||
* | Arcus Biosciences Inc. | 376,918 | 9,551 | |||
* | Phreesia Inc. | 374,585 | 9,368 | |||
* | Agios Pharmaceuticals Inc. | 415,031 | 9,201 | |||
* | OPKO Health Inc. | 3,480,478 | 8,806 | |||
* | Alector Inc. | 865,688 | 8,795 | |||
*,1 | Invitae Corp. | 3,410,919 | 8,323 | |||
* | TG Therapeutics Inc. | 1,954,472 | 8,307 | |||
*,1 | PMV Pharmaceuticals Inc. | 582,750 | 8,304 | |||
*,1 | Sana Biotechnology Inc. | 1,284,278 | 8,258 | |||
* | Gossamer Bio Inc. | 986,311 | 8,255 | |||
* | Hims & Hers Health Inc. | 1,783,316 | 8,078 | |||
* | Inogen Inc. | 326,414 | 7,893 | |||
* | HealthStream Inc. | 362,389 | 7,867 | |||
* | Theravance Biopharma Inc. | 859,778 | 7,790 | |||
* | Treace Medical Concepts Inc. | 540,930 | 7,757 | |||
* | Pulmonx Corp. | 503,296 | 7,409 | |||
* | Nuvation Bio Inc. | 2,135,528 | 6,919 | |||
* | GoodRx Holdings Inc. Class A | 1,122,401 | 6,645 | |||
* | Seer Inc. Class A | 734,706 | 6,576 | |||
*,1 | Butterfly Network Inc. | 2,042,408 | 6,270 | |||
*,1 | LifeStance Health Group Inc. | 1,108,226 | 6,162 | |||
*,1 | Verve Therapeutics Inc. | 396,152 | 6,053 | |||
* | AnaptysBio Inc. | 271,172 | 5,505 | |||
* | Cano Health Inc. | 1,229,933 | 5,387 | |||
* | Atara Biotherapeutics Inc. | 654,139 | 5,096 | |||
*,1 | Erasca Inc. | 901,841 | 5,023 | |||
* | Rocket Pharmaceuticals Inc. | 341,071 | 4,693 | |||
*,1 | ImmunityBio Inc. | 1,178,207 | 4,383 | |||
* | NanoString Technologies Inc. | 343,488 | 4,362 | |||
* | Natus Medical Inc. | 127,993 | 4,194 | |||
* | Kymera Therapeutics Inc. | 210,385 | 4,143 | |||
* | Atea Pharmaceuticals Inc. | 554,072 | 3,934 | |||
*,1 | 23andMe Holding Co. | 1,484,692 | 3,682 | |||
* | Sangamo Therapeutics Inc. | 868,219 | 3,594 | |||
* | Instil Bio Inc. | 765,535 | 3,537 | |||
*,1 | Amylyx Pharmaceuticals Inc. | 171,128 | 3,296 | |||
* | Cullinan Oncology Inc. | 232,100 | 2,976 | |||
* | Accolade Inc. | 398,519 | 2,949 | |||
* | Design Therapeutics Inc. | 206,530 | 2,891 | |||
*,1 | Monte Rosa Therapeutics Inc. | 276,487 | 2,674 |
Shares | Market Value• ($000) | |||||
* | Pennant Group Inc. | 190,079 | 2,435 | |||
* | Heron Therapeutics Inc. | 758,778 | 2,117 | |||
* | Phathom Pharmaceuticals Inc. | 216,845 | 1,830 | |||
*,1 | SmileDirectClub Inc. Class A | 1,588,881 | 1,652 | |||
*,1 | Innovage Holding Corp. | 293,386 | 1,285 | |||
* | Absci Corp. | 309,338 | 1,027 | |||
* | Singular Genomics Systems Inc. | 234,895 | 897 | |||
*,1 | P3 Health Partners Inc. | 224,204 | 834 | |||
* | Aveanna Healthcare Holdings Inc. | 341,910 | 773 | |||
*,1 | Bright Green Corp. | 310,194 | 689 | |||
* | Adagio Therapeutics Inc. | 203,136 | 666 | |||
5,330,415 | ||||||
Industrials (18.3%) | ||||||
Nordson Corp. | 779,728 | 157,848 | ||||
* | Fair Isaac Corp. | 387,723 | 155,438 | |||
Graco Inc. | 2,530,342 | 150,328 | ||||
Toro Co. | 1,563,029 | 118,462 | ||||
Watsco Inc. | 495,938 | 118,440 | ||||
Genpact Ltd. | 2,767,935 | 117,250 | ||||
* | WillScot Mobile Mini Holdings Corp. | 3,326,206 | 107,836 | |||
* | Berry Global Group Inc. | 1,948,450 | 106,463 | |||
A O Smith Corp. | 1,944,022 | 106,299 | ||||
* | WEX Inc. | 672,645 | 104,637 | |||
* | Paylocity Holding Corp. | 576,942 | 100,630 | |||
Lennox International Inc. | 483,141 | 99,812 | ||||
* | Coherent Inc. | 369,798 | 98,448 | |||
Jack Henry & Associates Inc. | 544,693 | 98,056 | ||||
Advanced Drainage Systems Inc. | 1,071,943 | 96,550 | ||||
Littelfuse Inc. | 369,958 | 93,984 | ||||
* | Axon Enterprise Inc. | 1,008,494 | 93,961 | |||
* | Trex Co. Inc. | 1,692,409 | 92,101 | |||
* | Chart Industries Inc. | 547,445 | 91,631 | |||
MKS Instruments Inc. | 832,374 | 85,427 | ||||
* | TopBuild Corp. | 490,060 | 81,918 | |||
Landstar System Inc. | 555,269 | 80,747 | ||||
Curtiss-Wright Corp. | 574,898 | 75,921 | ||||
BWX Technologies Inc. | 1,363,673 | 75,125 | ||||
* | Saia Inc. | 394,836 | 74,229 | |||
* | AMN Healthcare Services Inc. | 668,630 | 73,355 | |||
* | Euronet Worldwide Inc. | 718,044 | 72,228 | |||
Exponent Inc. | 774,636 | 70,856 | ||||
* | GXO Logistics Inc. | 1,631,288 | 70,586 | |||
* | ExlService Holdings Inc. | 472,736 | 69,648 | |||
* | ASGN Inc. | 725,684 | 65,493 | |||
Simpson Manufacturing Co. Inc. | 645,332 | 64,927 | ||||
Eagle Materials Inc. | 571,198 | 62,798 | ||||
Maximus Inc. | 918,181 | 57,395 |
Shares | Market Value• ($000) | |||||
Insperity Inc. | 544,062 | 54,314 | ||||
* | Mercury Systems Inc. | 819,299 | 52,706 | |||
Armstrong World Industries Inc. | 701,918 | 52,616 | ||||
John Bean Technologies Corp. | 475,317 | 52,485 | ||||
Cognex Corp. | 1,233,780 | 52,460 | ||||
* | Middleby Corp. | 378,869 | 47,495 | |||
* | Aerojet Rocketdyne Holdings Inc. | 1,143,440 | 46,424 | |||
* | Welbilt Inc. | 1,925,902 | 45,856 | |||
* | ACI Worldwide Inc. | 1,681,505 | 43,534 | |||
* | TriNet Group Inc. | 558,459 | 43,348 | |||
Franklin Electric Co. Inc. | 588,793 | 43,135 | ||||
Woodward Inc. | 430,782 | 39,843 | ||||
* | Bloom Energy Corp. Class A | 2,305,643 | 38,043 | |||
Forward Air Corp. | 401,793 | 36,949 | ||||
Badger Meter Inc. | 437,689 | 35,405 | ||||
* | Verra Mobility Corp. Class A | 2,218,987 | 34,860 | |||
AAON Inc. | 635,233 | 34,785 | ||||
Herc Holdings Inc. | 379,867 | 34,245 | ||||
* | Itron Inc. | 674,053 | 33,318 | |||
Helios Technologies Inc. | 485,820 | 32,186 | ||||
* | Air Transport Services Group Inc. | 1,056,966 | 30,367 | |||
Installed Building Products Inc. | 350,499 | 29,147 | ||||
* | AeroVironment Inc. | 354,050 | 29,103 | |||
Mueller Water Products Inc. Class A | 2,350,316 | ��� 27,569 | ||||
* | AZEK Co. Inc. Class A | 1,624,901 | 27,201 | |||
* | Kratos Defense & Security Solutions Inc. | 1,870,695 | 25,965 | |||
* | Masonite International Corp. | 337,832 | 25,956 | |||
* | Shift4 Payments Inc. Class A | 762,076 | 25,194 | |||
* | Affirm Holdings Inc. Class A | 1,354,252 | 24,458 | |||
Comfort Systems USA Inc. | 269,696 | 22,425 | ||||
* | Hayward Holdings Inc. | 1,526,676 | 21,969 | |||
Lindsay Corp. | 164,623 | 21,865 | ||||
* | Proto Labs Inc. | 412,466 | 19,732 | |||
* | Core & Main Inc. Class A | 877,325 | 19,564 | |||
* | Dycom Industries Inc. | 209,796 | 19,519 | |||
* | Flywire Corp. | 1,063,639 | 18,752 | |||
* | Vicor Corp. | 336,026 | 18,391 | |||
*,1 | Nikola Corp. | 3,789,670 | 18,039 | |||
*,1 | Legalzoom.com Inc. | 1,633,829 | 17,956 | |||
*,1 | Virgin Galactic Holdings Inc. | 2,890,816 | 17,403 | |||
* | Evo Payments Inc. Class A | 713,606 | 16,784 | |||
* | Hillman Solutions Corp. | 1,879,328 | 16,237 |
Shares | Market Value• ($000) | |||||
Tennant Co. | 263,499 | 15,612 | ||||
*,1 | TuSimple Holdings Inc. Class A | 2,084,311 | 15,070 | |||
*,1 | PureCycle Technologies Inc. | 1,705,798 | 12,657 | |||
* | CryoPort Inc. | 354,734 | 10,990 | |||
* | Gibraltar Industries Inc. | 246,000 | 9,532 | |||
*,1 | Remitly Global Inc. | 1,243,713 | 9,527 | |||
* | Cimpress plc | 235,129 | 9,147 | |||
* | Aurora Innovation Inc. | 4,748,864 | 9,070 | |||
* | Janus International Group Inc. | 990,497 | 8,944 | |||
Enerpac Tool Group Corp. Class A | 454,989 | 8,654 | ||||
* | FARO Technologies Inc. | 274,638 | 8,467 | |||
* | BTRS Holdings Inc. | 1,683,114 | 8,382 | |||
* | Forrester Research Inc. | 170,465 | 8,155 | |||
*,1 | Desktop Metal Inc. Class A | 3,540,172 | 7,788 | |||
*,1 | Enovix Corp. | 826,807 | 7,367 | |||
* | Payoneer Global Inc. | 1,813,185 | 7,108 | |||
* | TaskUS Inc. Class A | 417,875 | 7,045 | |||
*,1 | CS Disco Inc. | 346,993 | 6,260 | |||
*,1 | Hyliion Holdings Corp. | 1,800,399 | 5,797 | |||
*,1 | Mirion Technologies Inc. | 812,165 | 4,678 | |||
* | Sterling Check Corp. | 284,941 | 4,647 | |||
Gorman-Rupp Co. | 154,416 | 4,370 | ||||
* | Thermon Group Holdings Inc. | 234,503 | 3,295 | |||
* | Paymentus Holdings Inc. Class A | 229,877 | 3,073 | |||
*,1 | Microvast Holdings Inc. | 1,118,755 | 2,484 | |||
* | Ranpak Holdings Corp. Class A | 321,592 | 2,251 | |||
* | Velo3D Inc. | 1,155,984 | 1,595 | |||
* | Hydrofarm Holdings Group Inc. | 265,661 | 924 | |||
* | Latch Inc. | 775,144 | 884 | |||
4,740,203 | ||||||
Real Estate (8.6%) | ||||||
Equity LifeStyle Properties Inc. | 2,503,171 | 176,398 | ||||
American Homes 4 Rent Class A | 4,158,563 | 147,379 | ||||
CubeSmart | 3,355,793 | 143,359 | ||||
Rexford Industrial Realty Inc. | 2,466,818 | 142,064 | ||||
American Campus Communities Inc. | 2,085,104 | 134,427 | ||||
Americold Realty Trust Inc. | 4,026,319 | 120,951 | ||||
Healthcare Trust of America Inc. Class A | 3,425,310 | 95,600 | ||||
Host Hotels & Resorts Inc. | 5,343,720 | 83,789 | ||||
STAG Industrial Inc. | 2,679,395 | 82,740 | ||||
Spirit Realty Capital Inc. | 2,008,266 | 75,872 |
Shares | Market Value• ($000) | |||||
Independence Realty Trust Inc. | 3,306,309 | 68,540 | ||||
National Storage Affiliates Trust | 1,299,660 | 65,074 | ||||
Terreno Realty Corp. | 1,129,462 | 62,945 | ||||
* | Ryman Hospitality Properties Inc. | 783,197 | 59,546 | |||
Lamar Advertising Co. Class A | 650,915 | 57,261 | ||||
Kite Realty Group Trust | 3,275,654 | 56,636 | ||||
PS Business Parks Inc. | 289,205 | 54,125 | ||||
STORE Capital Corp. | 1,990,940 | 51,924 | ||||
Broadstone Net Lease Inc. | 2,406,251 | 49,352 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 1,299,285 | 49,191 | ||||
Innovative Industrial Properties Inc. | 417,966 | 45,922 | ||||
Kilroy Realty Corp. | 872,439 | 45,655 | ||||
Essential Properties Realty Trust Inc. | 1,960,318 | 42,127 | ||||
* | Howard Hughes Corp. | 575,128 | 39,137 | |||
Uniti Group Inc. | 3,543,841 | 33,383 | ||||
* | Opendoor Technologies Inc. | 7,002,556 | 32,982 | |||
1 | Phillips Edison & Co. Inc. | 851,693 | 28,455 | |||
RLJ Lodging Trust | 2,497,085 | 27,543 | ||||
St. Joe Co. | 573,320 | 22,681 | ||||
Paramount Group Inc. | 2,776,450 | 20,074 | ||||
Pebblebrook Hotel Trust | 979,083 | 16,223 | ||||
Marcus & Millichap Inc. | 377,662 | 13,970 | ||||
CareTrust REIT Inc. | 725,302 | 13,375 | ||||
* | Redfin Corp. | 1,541,487 | 12,702 | |||
1 | eXp World Holdings Inc. | 1,006,686 | 11,849 | |||
*,1 | WeWork Inc. | 2,110,221 | 10,593 | |||
Universal Health Realty Income Trust | 186,263 | 9,911 | ||||
Safehold Inc. | 278,777 | 9,860 | ||||
Alexander's Inc. | 15,133 | 3,362 | ||||
*,1 | Offerpad Solutions Inc. | 681,962 | 1,487 | |||
2,218,464 | ||||||
Technology (20.2%) | ||||||
Entegris Inc. | 2,031,652 | 187,176 | ||||
* | PTC Inc. | 1,574,055 | 167,385 | |||
* | Dynatrace Inc. | 2,993,586 | 118,067 | |||
* | Wolfspeed Inc. | 1,748,302 | 110,930 | |||
* | Pure Storage Inc. Class A | 4,237,494 | 108,946 | |||
* | Manhattan Associates Inc. | 943,748 | 108,154 | |||
* | Ceridian HCM Holding Inc. | 2,167,838 | 102,062 | |||
* | Lattice Semiconductor Corp. | 2,057,221 | 99,775 | |||
* | Five9 Inc. | 1,039,982 | 94,784 |
Shares | Market Value• ($000) | |||||
* | Avalara Inc. | 1,313,590 | 92,739 | |||
* | Guidewire Software Inc. | 1,249,085 | 88,673 | |||
* | Sailpoint Technologies Holdings Inc. | 1,409,484 | 88,346 | |||
* | II-VI Inc. | 1,592,734 | 81,150 | |||
Azenta Inc. | 1,121,128 | 80,833 | ||||
* | Aspen Technology Inc. | 430,424 | 79,060 | |||
* | Silicon Laboratories Inc. | 546,979 | 76,697 | |||
* | Tenable Holdings Inc. | 1,653,355 | 75,079 | |||
CMC Materials Inc. | 427,711 | 74,631 | ||||
* | Rogers Corp. | 281,085 | 73,670 | |||
* | Elastic NV | 1,078,380 | 72,974 | |||
* | Mandiant Corp. | 3,323,638 | 72,522 | |||
Dolby Laboratories Inc. Class A | 968,990 | 69,341 | ||||
* | Zendesk Inc. | 916,027 | 67,850 | |||
* | Qualys Inc. | 522,573 | 65,917 | |||
Power Integrations Inc. | 872,126 | 65,418 | ||||
Universal Display Corp. | 635,382 | 64,263 | ||||
Switch Inc. Class A | 1,911,036 | 64,020 | ||||
* | Novanta Inc. | 507,215 | 61,510 | |||
National Instruments Corp. | 1,961,517 | 61,258 | ||||
* | SPS Commerce Inc. | 539,758 | 61,020 | |||
* | Smartsheet Inc. Class A | 1,829,672 | 57,507 | |||
* | Rapid7 Inc. | 827,415 | 55,271 | |||
* | Blackline Inc. | 798,512 | 53,181 | |||
* | Semtech Corp. | 949,192 | 52,177 | |||
* | Onto Innovation Inc. | 741,096 | 51,684 | |||
* | Box Inc. Class A | 2,038,164 | 51,239 | |||
* | Nutanix Inc. Class A | 3,297,262 | 48,239 | |||
* | Varonis Systems Inc. | 1,638,229 | 48,033 | |||
* | Perficient Inc. | 517,936 | 47,490 | |||
* | IPG Photonics Corp. | 504,263 | 47,466 | |||
* | Procore Technologies Inc. | 1,013,354 | 45,996 | |||
* | FormFactor Inc. | 1,167,649 | 45,223 | |||
* | Fabrinet | 550,206 | 44,622 | |||
* | Alarm.com Holdings Inc. | 711,674 | 44,024 | |||
* | Dropbox Inc. Class A | 2,080,228 | 43,664 | |||
* | Envestnet Inc. | 825,065 | 43,539 | |||
* | Workiva Inc. Class A | 648,293 | 42,781 | |||
* | Alteryx Inc. Class A | 858,576 | 41,572 | |||
* | Diodes Inc. | 643,039 | 41,521 | |||
Advanced Energy Industries Inc. | 561,707 | 40,993 | ||||
* | New Relic Inc. | 800,496 | 40,065 | |||
* | CommVault Systems Inc. | 633,696 | 39,859 | |||
* | Altair Engineering Inc. Class A | 738,960 | 38,795 | |||
Vertiv Holdings Co. Class A | 4,504,760 | 37,029 | ||||
* | Upwork Inc. | 1,744,406 | 36,074 | |||
* | DigitalOcean Holdings Inc. | 871,830 | 36,059 | |||
* | SiTime Corp. | 220,165 | 35,894 | |||
* | MaxLinear Inc. Class A | 1,044,180 | 35,481 |
Shares | Market Value• ($000) | |||||
* | Bumble Inc. Class A | 1,258,501 | 35,427 | |||
* | Ambarella Inc. | 540,798 | 35,401 | |||
* | Confluent Inc. Class A | 1,505,845 | 34,996 | |||
* | MACOM Technology Solutions Holdings Inc. | 731,729 | 33,733 | |||
* | RingCentral Inc. Class A | 634,887 | 33,179 | |||
* | Sprout Social Inc. Class A | 555,112 | 32,235 | |||
* | Coupa Software Inc. | 564,423 | 32,229 | |||
* | Q2 Holdings Inc. | 812,566 | 31,341 | |||
* | Cargurus Inc. Class A | 1,453,897 | 31,244 | |||
* | nCino Inc. | 987,975 | 30,548 | |||
Pegasystems Inc. | 611,772 | 29,267 | ||||
* | E2open Parent Holdings Inc. | 3,606,172 | 28,056 | |||
* | Yelp Inc. Class A | 1,006,522 | 27,951 | |||
* | PagerDuty Inc. | 1,115,383 | 27,639 | |||
* | Appian Corp. | 580,476 | 27,491 | |||
* | LiveRamp Holdings Inc. | 972,590 | 25,103 | |||
* | Ziff Davis Inc. | 336,236 | 25,060 | |||
* | Appfolio Inc. Class A | 270,270 | 24,497 | |||
* | Jamf Holding Corp. | 986,462 | 24,435 | |||
* | Toast Inc. Class A | 1,802,544 | 23,325 | |||
* | Blackbaud Inc. | 396,401 | 23,019 | |||
*,1 | MicroStrategy Inc. Class A | 139,679 | 22,949 | |||
* | Digital Turbine Inc. | 1,307,087 | 22,835 | |||
*,1 | Clear Secure Inc. Class A | 1,117,868 | 22,357 | |||
* | DoubleVerify Holdings Inc. | 979,778 | 22,212 | |||
* | Gitlab Inc. Class A | 415,474 | 22,078 | |||
* | Schrodinger Inc. | 784,781 | 20,726 | |||
* | JFrog Ltd. | 957,110 | 20,166 | |||
Shutterstock Inc. | 351,126 | 20,123 | ||||
*,1 | Freshworks Inc. Class A | 1,503,007 | 19,765 | |||
* | Fastly Inc. Class A | 1,621,895 | 18,830 | |||
* | Ping Identity Holding Corp. | 1,016,815 | 18,445 | |||
* | 3D Systems Corp. | 1,845,628 | 17,903 | |||
* | Asana Inc. Class A | 1,015,074 | 17,845 | |||
* | KnowBe4 Inc. Class A | 1,127,358 | 17,609 | |||
* | Paycor HCM Inc. | 652,896 | 16,975 | |||
* | Magnite Inc. | 1,867,952 | 16,587 | |||
*,1 | Braze Inc. Class A | 456,508 | 16,539 | |||
* | Everbridge Inc. | 589,509 | 16,441 | |||
*,1 | Thoughtworks Holding Inc. | 1,156,610 | 16,320 | |||
* | Zuora Inc. Class A | 1,806,876 | 16,172 | |||
* | Duck Creek Technologies Inc. | 1,086,208 | 16,130 | |||
* | PROS Holdings Inc. | 611,372 | 16,036 | |||
* | Momentive Global Inc. | 1,789,184 | 15,745 | |||
* | LivePerson Inc. | 1,056,321 | 14,936 | |||
*,1 | Xometry Inc. Class A | 429,814 | 14,584 | |||
* | Veeco Instruments Inc. | 727,194 | 14,108 | |||
* | BigCommerce Holdings Inc. | 814,704 | 13,198 |
Shares | Market Value• ($000) | |||||
* | Eventbrite Inc. Class A | 1,207,713 | 12,403 | |||
* | Vimeo Inc. | 1,992,442 | 11,995 | |||
* | Consensus Cloud Solutions Inc. | 269,248 | 11,761 | |||
* | Sprinklr Inc. Class A | 1,147,481 | 11,601 | |||
* | CEVA Inc. | 330,128 | 11,079 | |||
* | Sumo Logic Inc. | 1,468,524 | 10,999 | |||
* | Definitive Healthcare Corp. Class A | 440,391 | 10,098 | |||
* | PubMatic Inc. Class A | 630,933 | 10,026 | |||
*,1 | IonQ Inc. | 2,076,588 | 9,095 | |||
* | Yext Inc. | 1,762,942 | 8,427 | |||
*,1 | Zeta Global Holdings Corp. Class A | 1,749,881 | 7,909 | |||
* | Alkami Technology Inc. | 545,274 | 7,574 | |||
*,1 | ForgeRock Inc. Class A | 353,380 | 7,569 | |||
*,1 | HashiCorp Inc. Class A | 248,997 | 7,330 | |||
* | nLight Inc. | 626,473 | 6,403 | |||
*,1 | Blend Labs Inc. Class A | 2,604,309 | 6,146 | |||
*,1 | Matterport Inc. | 1,668,633 | 6,107 | |||
* | EngageSmart Inc. | 360,796 | 5,802 | |||
* | Telos Corp. | 703,358 | 5,683 | |||
* | Bandwidth Inc. Class A | 293,293 | 5,520 | |||
*,1 | Aeva Technologies Inc. | 1,763,594 | 5,520 | |||
*,1 | SEMrush Holdings Inc. Class A | 414,811 | 5,364 | |||
* | ON24 Inc. | 554,690 | 5,264 | |||
* | N-able Inc. | 465,992 | 4,194 | |||
* | AvePoint Inc. | 947,010 | 4,110 | |||
* | MeridianLink Inc. | 238,383 | 3,981 | |||
* | EverCommerce Inc. | 434,254 | 3,926 | |||
* | Credo Technology Group Holding Ltd. | 317,295 | 3,706 | |||
* | Intapp Inc. | 230,250 | 3,371 | |||
* | MediaAlpha Inc. Class A | 337,642 | 3,326 | |||
*,1 | SmartRent Inc. Class A | 722,795 | 3,267 | |||
*,1 | NerdWallet Inc. Class A | 393,514 | 3,121 | |||
Ebix Inc. | 182,964 | 3,092 | ||||
* | Vertex Inc. Class A | 220,502 | 2,498 | |||
* | Nextdoor Holdings Inc. | 732,396 | 2,424 | |||
*,1 | Skillz Inc. Class A | 1,764,941 | 2,189 | |||
* | Enfusion Inc. Class A | 194,182 | 1,983 | |||
* | WM Technology Inc. | 509,677 | 1,677 | |||
* | Ouster Inc. | 880,420 | 1,426 | |||
* | SecureWorks Corp. Class A | 121,688 | 1,322 | |||
* | Planet Labs PBC | 267,940 | 1,160 | |||
* | BuzzFeed Inc. | 213,201 | 328 | |||
5,224,294 | ||||||
Telecommunications (1.9%) | ||||||
Cable One Inc. | 89,617 | 115,545 | ||||
* | Ciena Corp. | 2,274,724 | 103,955 | |||
* | Lumentum Holdings Inc. | 980,246 | 77,851 | |||
Cogent Communications Holdings Inc. | 645,643 | 39,229 | ||||
* | Vonage Holdings Corp. | 1,918,096 | 36,137 |
Shares | Market Value• ($000) | |||||
* | Viasat Inc. | 1,057,626 | 32,395 | |||
* | Calix Inc. | 821,444 | 28,044 | |||
* | Infinera Corp. | 2,733,195 | 14,650 | |||
* | WideOpenWest Inc. | 787,334 | 14,337 | |||
* | Globalstar Inc. | 10,763,311 | 13,239 | |||
* | 8x8 Inc. | 1,685,489 | 8,680 | |||
* | Gogo Inc. | 481,622 | 7,798 | |||
ATN International Inc. | 163,196 | 7,656 | ||||
ADTRAN Inc. | 345,077 | 6,049 | ||||
505,565 | ||||||
Utilities (1.7%) | ||||||
* | Sunrun Inc. | 2,984,175 | 69,710 | |||
* | Clean Harbors Inc. | 772,958 | 67,765 | |||
* | Evoqua Water Technologies Corp. | 1,813,274 | 58,950 | |||
* | Casella Waste Systems Inc. Class A | 757,252 | 55,037 | |||
Ormat Technologies Inc. | 670,868 | 52,563 | ||||
Clearway Energy Inc. Class C | 1,221,534 | 42,558 | ||||
* | Sunnova Energy International Inc. | 1,457,972 | 26,871 | |||
California Water Service Group | 400,483 | 22,247 | ||||
* | Archaea Energy Inc. Class A | 1,205,251 | 18,718 | |||
Clearway Energy Inc. Class A | 521,467 | 16,671 | ||||
*,1 | Excelerate Energy Inc. Class A | 135,962 | 2,708 | |||
*,1 | NuScale Power Corp. | 108,540 | 1,084 | |||
434,882 | ||||||
Total Common Stocks (Cost $26,313,160) | 25,890,268 |
Shares | Market Value• ($000) | |||||
Temporary Cash Investments (2.6%) | ||||||
Money Market Fund (2.6%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 1.417% (Cost $675,533) | 6,757,644 | 675,562 | |||
Total Investments (102.6%) (Cost $26,988,693) | 26,565,830 | |||||
Other Assets and Liabilities—Net (-2.6%) | (682,425) | |||||
Net Assets (100%) | 25,883,405 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $547,854,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $610,096,000 was received for securities on loan. |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2022 | 489 | 41,761 | (128) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
ACI Worldwide Inc. | 8/31/22 | BANA | 932 | (1.643) | — | (27) |
Elastic NV | 8/31/22 | BANA | 2,466 | (1.275) | 239 | — |
Fisker Inc. Class A | 1/31/23 | GSI | 6,992 | (1.587) | — | (140) |
Invitae Corp. | 8/31/22 | BANA | 1,321 | (0.770) | — | — |
Middleby Corp. | 8/31/22 | BANA | 4,241 | (1.211) | — | (735) |
Over-the-Counter Total Return Swaps (continued) | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Novocure Ltd. | 8/31/22 | BANA | 14,468 | (1.220) | — | (1,972) |
Wolfspeed Inc. | 8/31/22 | BANA | 7,523 | (1.215) | — | (1,185) |
239 | (4,059) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $26,313,160) | 25,890,268 |
Affiliated Issuers (Cost $675,533) | 675,562 |
Total Investments in Securities | 26,565,830 |
Investment in Vanguard | 1,007 |
Cash Collateral Pledged—Futures Contracts | 2,690 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 3,020 |
Receivables for Investment Securities Sold | 46,199 |
Receivables for Accrued Income | 15,684 |
Receivables for Capital Shares Issued | 11,271 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 239 |
Total Assets | 26,645,940 |
Liabilities | |
Due to Custodian | 37,062 |
Payables for Investment Securities Purchased | 99,661 |
Collateral for Securities on Loan | 610,096 |
Payables for Capital Shares Redeemed | 10,586 |
Payables to Vanguard | 743 |
Variation Margin Payable—Futures Contracts | 328 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 4,059 |
Total Liabilities | 762,535 |
Net Assets | 25,883,405 |
1 Includes $547,854 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 29,105,495 |
Total Distributable Earnings (Loss) | (3,222,090) |
Net Assets | 25,883,405 |
Investor Shares—Net Assets | |
Applicable to 1,524,202 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 84,447 |
Net Asset Value Per Share—Investor Shares | $55.40 |
ETF Shares—Net Assets | |
Applicable to 59,421,383 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,709,080 |
Net Asset Value Per Share—ETF Shares | $197.05 |
Admiral Shares—Net Assets | |
Applicable to 163,638,355 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,337,388 |
Net Asset Value Per Share—Admiral Shares | $69.28 |
Institutional Shares—Net Assets | |
Applicable to 49,608,634 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,752,490 |
Net Asset Value Per Share—Institutional Shares | $55.48 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 73,578 |
Interest1 | 137 |
Securities Lending—Net | 9,202 |
Total Income | 82,917 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 735 |
Management and Administrative—Investor Shares | 94 |
Management and Administrative—ETF Shares | 3,798 |
Management and Administrative—Admiral Shares | 3,882 |
Management and Administrative—Institutional Shares | 749 |
Marketing and Distribution—Investor Shares | 5 |
Marketing and Distribution—ETF Shares | 251 |
Marketing and Distribution—Admiral Shares | 293 |
Marketing and Distribution—Institutional Shares | 58 |
Custodian Fees | 186 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 245 |
Shareholders’ Reports—Admiral Shares | 85 |
Shareholders’ Reports—Institutional Shares | 40 |
Trustees’ Fees and Expenses | 8 |
Other Expenses | 8 |
Total Expenses | 10,437 |
Expenses Paid Indirectly | (8) |
Net Expenses | 10,429 |
Net Investment Income | 72,488 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | (675,390) |
Futures Contracts | (2,305) |
Swap Contracts | (24,026) |
Realized Net Gain (Loss) | (701,721) |
Statement of Operations (continued) | |
Six Months Ended June 30, 2022 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (10,331,964) |
Futures Contracts | (2,390) |
Swap Contracts | 2,044 |
Change in Unrealized Appreciation (Depreciation) | (10,332,310) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (10,961,543) |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $137,000, ($86,000), and ($34,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $904,304,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 72,488 | 167,870 | |
Realized Net Gain (Loss) | (701,721) | 4,271,918 | |
Change in Unrealized Appreciation (Depreciation) | (10,332,310) | (2,566,787) | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (10,961,543) | 1,873,001 | |
Distributions | |||
Investor Shares | (82) | (401) | |
ETF Shares | (14,225) | (57,438) | |
Admiral Shares | (13,711) | (61,028) | |
Institutional Shares | (3,511) | (14,238) | |
Total Distributions | (31,529) | (133,105) | |
Capital Share Transactions | |||
Investor Shares | (24,501) | (71,356) | |
ETF Shares | 218,116 | 1,267,326 | |
Admiral Shares | (342,517) | (412,500) | |
Institutional Shares | 97,366 | (65,864) | |
Net Increase (Decrease) from Capital Share Transactions | (51,536) | 717,606 | |
Total Increase (Decrease) | (11,044,608) | 2,457,502 | |
Net Assets | |||
Beginning of Period | 36,928,013 | 34,470,511 | |
End of Period | 25,883,405 | 36,928,013 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $79.21 | $75.20 | $55.89 | $42.36 | $45.24 | $37.43 |
Investment Operations | ||||||
Net Investment Income1 | .117 | .257 | .241 | .178 | .274 | .315 |
Net Realized and Unrealized Gain (Loss) on Investments | (23.874) | 3.938 | 19.331 | 13.617 | (2.879) | 7.814 |
Total from Investment Operations | (23.757) | 4.195 | 19.572 | 13.795 | (2.605) | 8.129 |
Distributions | ||||||
Dividends from Net Investment Income | (.053) | (.185) | (.262) | (.265) | (.275) | (.319) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.053) | (.185) | (.262) | (.265) | (.275) | (.319) |
Net Asset Value, End of Period | $55.40 | $79.21 | $75.20 | $55.89 | $42.36 | $45.24 |
Total Return2 | -29.99% | 5.58% | 35.12% | 32.60% | -5.80% | 21.78% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $84 | $149 | $209 | $171 | $1,461 | $1,816 |
Ratio of Total Expenses to Average Net Assets | 0.19%3 | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 0.43% | 0.32% | 0.42% | 0.35% | 0.58% | 0.78% |
Portfolio Turnover Rate4 | 12% | 29% | 24% | 18% | 22% | 19% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.19%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $281.61 | $267.36 | $198.68 | $150.57 | $160.81 | $133.07 |
Investment Operations | ||||||
Net Investment Income1 | .556 | 1.291 | 1.129 | 1.175 | 1.214 | 1.320 |
Net Realized and Unrealized Gain (Loss) on Investments | (84.876) | 13.975 | 68.729 | 48.077 | (10.263) | 27.731 |
Total from Investment Operations | (84.320) | 15.266 | 69.858 | 49.252 | (9.049) | 29.051 |
Distributions | ||||||
Dividends from Net Investment Income | (.240) | (1.016) | (1.178) | (1.142) | (1.191) | (1.311) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.240) | (1.016) | (1.178) | (1.142) | (1.191) | (1.311) |
Net Asset Value, End of Period | $197.05 | $281.61 | $267.36 | $198.68 | $150.57 | $160.81 |
Total Return | -29.94% | 5.71% | 35.29% | 32.75% | -5.68% | 21.90% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,709 | $16,379 | $14,436 | $9,833 | $7,286 | $6,981 |
Ratio of Total Expenses to Average Net Assets | 0.07%2 | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.55% | 0.45% | 0.55% | 0.64% | 0.70% | 0.90% |
Portfolio Turnover Rate3 | 12% | 29% | 24% | 18% | 22% | 19% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $99.01 | $94.02 | $69.87 | $52.95 | $56.55 | $46.79 |
Investment Operations | ||||||
Net Investment Income1 | .195 | .448 | .392 | .419 | .423 | .465 |
Net Realized and Unrealized Gain (Loss) on Investments | (29.841) | 4.899 | 24.172 | 16.902 | (3.605) | 9.755 |
Total from Investment Operations | (29.646) | 5.347 | 24.564 | 17.321 | (3.182) | 10.220 |
Distributions | ||||||
Dividends from Net Investment Income | (.084) | (.357) | (.414) | (.401) | (.418) | (.460) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.084) | (.357) | (.414) | (.401) | (.418) | (.460) |
Net Asset Value, End of Period | $69.28 | $99.01 | $94.02 | $69.87 | $52.95 | $56.55 |
Total Return2 | -29.94% | 5.69% | 35.30% | 32.76% | -5.68% | 21.92% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,337 | $16,594 | $16,149 | $12,717 | $8,560 | $8,729 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.55% | 0.45% | 0.54% | 0.65% | 0.70% | 0.90% |
Portfolio Turnover Rate4 | 12% | 29% | 24% | 18% | 22% | 19% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $79.29 | $75.29 | $55.95 | $42.40 | $45.29 | $37.47 |
Investment Operations | ||||||
Net Investment Income1 | .160 | .367 | .319 | .327 | .335 | .375 |
Net Realized and Unrealized Gain (Loss) on Investments | (23.899) | 3.927 | 19.358 | 13.550 | (2.886) | 7.818 |
Total from Investment Operations | (23.739) | 4.294 | 19.677 | 13.877 | (2.551) | 8.193 |
Distributions | ||||||
Dividends from Net Investment Income | (.071) | (.294) | (.337) | (.327) | (.339) | (.373) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.071) | (.294) | (.337) | (.327) | (.339) | (.373) |
Net Asset Value, End of Period | $55.48 | $79.29 | $75.29 | $55.95 | $42.40 | $45.29 |
Total Return | -29.94% | 5.70% | 35.31% | 32.77% | -5.69% | 21.94% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $2,752 | $3,805 | $3,676 | $3,218 | $2,858 | $3,690 |
Ratio of Total Expenses to Average Net Assets | 0.06%2 | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.56% | 0.46% | 0.55% | 0.64% | 0.71% | 0.91% |
Portfolio Turnover Rate3 | 12% | 29% | 24% | 18% | 22% | 19% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended June 30, 2022, custodian fee offset arrangements reduced the fund’s expenses by $8,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 25,890,268 | — | — | 25,890,268 |
Temporary Cash Investments | 675,562 | — | — | 675,562 |
Total | 26,565,830 | — | — | 26,565,830 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 239 | — | 239 |
Liabilities | ||||
Futures Contracts1 | 128 | — | — | 128 |
Swap Contracts | — | 4,059 | — | 4,059 |
Total | 128 | 4,059 | — | 4,187 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | As of June 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 27,104,854 |
Gross Unrealized Appreciation | 5,718,796 |
Gross Unrealized Depreciation | (6,261,768) |
Net Unrealized Appreciation (Depreciation) | (542,972) |
F. | During the six months ended June 30, 2022, the fund purchased $5,942,575,000 of investment securities and sold $5,825,254,000 of investment securities, other than temporary cash investments. Purchases and sales include $2,144,044,000 and $2,100,988,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares. |
G. | Capital share transactions for each class of shares were: |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 7,028 | 106 | 27,595 | 344 | |
Issued in Lieu of Cash Distributions | 82 | 1 | 401 | 5 | |
Redeemed | (31,611) | (466) | (99,352) | (1,245) | |
Net Increase (Decrease)—Investor Shares | (24,501) | (359) | (71,356) | (896) | |
ETF Shares | |||||
Issued | 2,394,095 | 10,908 | 8,232,657 | 28,868 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (2,175,979) | (9,650) | (6,965,331) | (24,700) | |
Net Increase (Decrease)—ETF Shares | 218,116 | 1,258 | 1,267,326 | 4,168 | |
Admiral Shares | |||||
Issued | 964,388 | 11,872 | 2,933,136 | 29,431 | |
Issued in Lieu of Cash Distributions | 12,277 | 180 | 54,667 | 553 | |
Redeemed | (1,319,182) | (16,011) | (3,400,303) | (34,161) | |
Net Increase (Decrease)—Admiral Shares | (342,517) | (3,959) | (412,500) | (4,177) | |
Institutional Shares | |||||
Issued | 349,988 | 5,441 | 721,080 | 9,029 | |
Issued in Lieu of Cash Distributions | 3,281 | 60 | 13,272 | 168 | |
Redeemed | (255,903) | (3,883) | (800,216) | (10,031) | |
Net Increase (Decrease)—Institutional Shares | 97,366 | 1,618 | (65,864) | (834) |
H. | Management has determined that no events or transactions occurred subsequent to June 30, 2022, that would require recognition or disclosure in these financial statements. |
Basic Materials | 5.4% |
Consumer Discretionary | 13.8 |
Consumer Staples | 3.9 |
Energy | 6.1 |
Financials | 22.3 |
Health Care | 5.3 |
Industrials | 20.5 |
Real Estate | 9.6 |
Technology | 6.2 |
Telecommunications | 1.3 |
Utilities | 5.6 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.8%) | ||||||
Basic Materials (5.4%) | ||||||
Steel Dynamics Inc. | 2,991,661 | 197,898 | ||||
Reliance Steel & Aluminum Co. | 1,033,656 | 175,577 | ||||
Alcoa Corp. | 3,078,857 | 140,334 | ||||
* | Cleveland-Cliffs Inc. | 7,884,329 | 121,182 | |||
Olin Corp. | 2,407,298 | 111,410 | ||||
Valvoline Inc. | 2,975,256 | 85,777 | ||||
Ashland Global Holdings Inc. | 819,487 | 84,448 | ||||
Huntsman Corp. | 2,977,932 | 84,424 | ||||
Chemours Co. | 2,591,137 | 82,968 | ||||
* | Univar Solutions Inc. | 2,820,955 | 70,157 | |||
United States Steel Corp. | 3,910,182 | 70,031 | ||||
Element Solutions Inc. | 3,921,389 | 69,801 | ||||
UFP Industries Inc. | 993,242 | 67,680 | ||||
Commercial Metals Co. | 2,025,399 | 67,041 | ||||
Avient Corp. | 1,526,846 | 61,196 | ||||
Cabot Corp. | 942,460 | 60,120 | ||||
Timken Co. | 1,112,973 | 59,043 | ||||
Sensient Technologies Corp. | 700,651 | 56,444 | ||||
Scotts Miracle-Gro Co. | 646,120 | 51,037 | ||||
* | Arconic Corp. | 1,763,107 | 49,455 | |||
Mueller Industries Inc. | 901,249 | 48,028 | ||||
Innospec Inc. | 413,694 | 39,628 | ||||
Boise Cascade Co. | 657,530 | 39,116 | ||||
Stepan Co. | 354,143 | 35,892 | ||||
Hecla Mining Co. | 8,984,679 | 35,220 | ||||
Minerals Technologies Inc. | 549,408 | 33,701 | ||||
Tronox Holdings plc Class A | 1,947,257 | 32,714 | ||||
* | GCP Applied Technologies Inc. | 929,434 | 29,073 | |||
Westlake Corp. | 267,099 | 26,181 | ||||
Materion Corp. | 340,361 | 25,095 | ||||
GrafTech International Ltd. | 3,248,051 | 22,964 |
Shares | Market Value• ($000) | |||||
Carpenter Technology Corp. | 803,478 | 22,425 | ||||
Worthington Industries Inc. | 499,949 | 22,048 | ||||
Kaiser Aluminum Corp. | 264,359 | 20,908 | ||||
Compass Minerals International Inc. | 567,706 | 20,091 | ||||
Schnitzer Steel Industries Inc. Class A | 413,392 | 13,576 | ||||
Schweitzer-Mauduit International Inc. | 523,360 | 13,147 | ||||
* | Coeur Mining Inc. | 4,232,416 | 12,867 | |||
Ecovyst Inc. | 1,045,005 | 10,293 | ||||
Koppers Holdings Inc. | 337,112 | 7,632 | ||||
Glatfelter Corp. | 374,197 | 2,574 | ||||
2,279,196 | ||||||
Consumer Discretionary (13.8%) | ||||||
Service Corp. International | 2,515,809 | 173,893 | ||||
* | BJ's Wholesale Club Holdings Inc. | 2,251,363 | 140,305 | |||
Lithia Motors Inc. Class A | 482,828 | 132,686 | ||||
Aramark | 4,293,450 | 131,508 | ||||
* | Mattel Inc. | 5,881,859 | 131,342 | |||
Williams-Sonoma Inc. | 1,169,064 | 129,708 | ||||
Tapestry Inc. | 4,202,759 | 128,268 | ||||
Newell Brands Inc. | 6,210,537 | 118,249 | ||||
* | Capri Holdings Ltd. | 2,463,884 | 101,044 | |||
Nielsen Holdings plc | 4,202,974 | 97,593 | ||||
H&R Block Inc. | 2,660,298 | 93,962 | ||||
Polaris Inc. | 942,021 | 93,524 | ||||
Interpublic Group of Cos. Inc. | 3,287,545 | 90,506 | ||||
Macy's Inc. | 4,756,109 | 87,132 | ||||
* | AutoNation Inc. | 777,798 | 86,927 | |||
Murphy USA Inc. | 363,151 | 84,567 | ||||
* | Alaska Air Group Inc. | 2,105,301 | 84,317 | |||
Toll Brothers Inc. | 1,861,868 | 83,039 | ||||
* | Terminix Global Holdings Inc. | 2,025,225 | 82,325 | |||
TEGNA Inc. | 3,721,031 | 78,030 |
Shares | Market Value• ($000) | |||||
*,1 | Norwegian Cruise Line Holdings Ltd. | 7,004,031 | 77,885 | |||
Leggett & Platt Inc. | 2,226,429 | 76,990 | ||||
Kohl's Corp. | 2,143,484 | 76,501 | ||||
New York Times Co. Class A | 2,638,500 | 73,614 | ||||
Marriott Vacations Worldwide Corp. | 621,402 | 72,207 | ||||
* | Avis Budget Group Inc. | 482,877 | 71,022 | |||
AMERCO | 147,065 | 70,331 | ||||
Harley-Davidson Inc. | 2,210,719 | 69,991 | ||||
* | American Airlines Group Inc. | 5,413,736 | 68,646 | |||
1 | Dick's Sporting Goods Inc. | 901,096 | 67,916 | |||
*,1 | GameStop Corp. Class A | 540,733 | 66,132 | |||
Thor Industries Inc. | 871,383 | 65,118 | ||||
* | Helen of Troy Ltd. | 397,402 | 64,542 | |||
PVH Corp. | 1,125,429 | 64,037 | ||||
Lear Corp. | 498,737 | 62,786 | ||||
* | Asbury Automotive Group Inc. | 368,903 | 62,470 | |||
*,1 | Hertz Global Holdings Inc. | 3,777,564 | 59,837 | |||
Hanesbrands Inc. | 5,814,178 | 59,828 | ||||
*,1 | AMC Entertainment Holdings Inc. Class A | 4,305,076 | 58,334 | |||
Wendy's Co. | 2,856,912 | 53,938 | ||||
Travel + Leisure Co. | 1,352,425 | 52,501 | ||||
Academy Sports & Outdoors Inc. | 1,437,768 | 51,098 | ||||
Bath & Body Works Inc. | 1,888,072 | 50,827 | ||||
* | Goodyear Tire & Rubber Co. | 4,706,582 | 50,407 | |||
* | Coty Inc. Class A | 6,291,837 | 50,398 | |||
* | Wynn Resorts Ltd. | 869,556 | 49,547 | |||
Penske Automotive Group Inc. | 442,879 | 46,365 | ||||
Carter's Inc. | 638,163 | 44,978 | ||||
* | JetBlue Airways Corp. | 5,349,953 | 44,779 | |||
Group 1 Automotive Inc. | 262,858 | 44,633 | ||||
* | Meritage Homes Corp. | 611,687 | 44,347 | |||
* | Taylor Morrison Home Corp. Class A | 1,894,336 | 44,252 | |||
*,1 | Spirit Airlines Inc. | 1,810,554 | 43,164 | |||
Foot Locker Inc. | 1,601,922 | 40,449 | ||||
Signet Jewelers Ltd. | 750,324 | 40,112 | ||||
KB Home | 1,403,179 | 39,934 | ||||
Nordstrom Inc. | 1,854,187 | 39,179 | ||||
* | Victoria's Secret & Co. | 1,380,486 | 38,612 | |||
Gap Inc. | 4,313,876 | 35,546 | ||||
Graham Holdings Co. Class B | 62,032 | 35,162 | ||||
Rush Enterprises Inc. Class A | 716,906 | 34,555 |
Shares | Market Value• ($000) | |||||
John Wiley & Sons Inc. Class A | 700,177 | 33,440 | ||||
MillerKnoll Inc. | 1,262,718 | 33,172 | ||||
Cracker Barrel Old Country Store Inc. | 387,072 | 32,317 | ||||
Kontoor Brands Inc. | 933,562 | 31,153 | ||||
MDC Holdings Inc. | 947,875 | 30,626 | ||||
Ralph Lauren Corp. | 338,910 | 30,383 | ||||
Dana Inc. | 2,148,727 | 30,233 | ||||
* | KAR Auction Services Inc. | 2,024,853 | 29,907 | |||
PriceSmart Inc. | 411,579 | 29,481 | ||||
* | Tri Pointe Homes Inc. | 1,722,253 | 29,054 | |||
1 | American Eagle Outfitters Inc. | 2,538,229 | 28,377 | |||
* | Central Garden & Pet Co. Class A | 682,090 | 27,290 | |||
* | Cinemark Holdings Inc. | 1,804,864 | 27,109 | |||
* | Under Armour Inc. Class C | 3,576,352 | 27,109 | |||
Wolverine World Wide Inc. | 1,344,512 | 27,105 | ||||
* | Knowles Corp. | 1,527,858 | 26,478 | |||
Strategic Education Inc. | 373,594 | 26,368 | ||||
* | Under Armour Inc. Class A | 3,153,950 | 26,272 | |||
* | Adtalem Global Education Inc. | 713,399 | 25,661 | |||
Laureate Education Inc. Class A | 2,153,465 | 24,916 | ||||
Bloomin' Brands Inc. | 1,476,235 | 24,535 | ||||
* | Tenneco Inc. Class A | 1,386,977 | 23,800 | |||
HNI Corp. | 670,140 | 23,247 | ||||
Oxford Industries Inc. | 258,370 | 22,928 | ||||
Acushnet Holdings Corp. | 540,452 | 22,526 | ||||
Cheesecake Factory Inc. | 834,213 | 22,040 | ||||
* | Sally Beauty Holdings Inc. | 1,779,267 | 21,209 | |||
* | ODP Corp. | 695,223 | 21,024 | |||
Steven Madden Ltd. | 603,806 | 19,449 | ||||
Sturm Ruger & Co. Inc. | 295,216 | 18,790 | ||||
* | National Vision Holdings Inc. | 681,575 | 18,743 | |||
* | SkyWest Inc. | 846,390 | 17,986 | |||
* | Urban Outfitters Inc. | 941,093 | 17,561 | |||
La-Z-Boy Inc. | 723,716 | 17,159 | ||||
* | Lions Gate Entertainment Corp. Class B | 1,901,959 | 16,794 | |||
Rent-A-Center Inc. | 843,297 | 16,402 | ||||
* | PowerSchool Holdings Inc. Class A | 1,331,015 | 16,039 | |||
Qurate Retail Inc. Class A | 5,585,923 | 16,032 | ||||
* | Brinker International Inc. | 727,682 | 16,031 |
Shares | Market Value• ($000) | |||||
* | Sabre Corp. | 2,736,037 | 15,951 | |||
Dillard's Inc. Class A | 71,562 | 15,784 | ||||
1 | Krispy Kreme Inc. | 1,120,588 | 15,240 | |||
*,1 | Duolingo Inc. Class A | 171,592 | 15,023 | |||
* | PROG Holdings Inc. | 904,902 | 14,931 | |||
Sinclair Broadcast Group Inc. Class A | 707,329 | 14,429 | ||||
* | iHeartMedia Inc. Class A | 1,819,606 | 14,357 | |||
* | Abercrombie & Fitch Co. Class A | 844,072 | 14,282 | |||
Matthews International Corp. Class A | 497,966 | 14,277 | ||||
Buckle Inc. | 504,923 | 13,981 | ||||
* | G-III Apparel Group Ltd. | 685,775 | 13,873 | |||
* | Stride Inc. | 340,021 | 13,869 | |||
* | American Axle & Manufacturing Holdings Inc. | 1,820,169 | 13,706 | |||
Steelcase Inc. Class A | 1,238,552 | 13,290 | ||||
* | AMC Networks Inc. Class A | 447,518 | 13,032 | |||
* | elf Beauty Inc. | 414,690 | 12,723 | |||
Designer Brands Inc. Class A | 972,691 | 12,703 | ||||
* | Vista Outdoor Inc. | 449,467 | 12,540 | |||
Interface Inc. Class A | 995,719 | 12,486 | ||||
Sonic Automotive Inc. Class A | 322,629 | 11,818 | ||||
* | Hawaiian Holdings Inc. | 817,625 | 11,700 | |||
* | GoPro Inc. Class A | 2,090,261 | 11,559 | |||
Monro Inc. | 266,969 | 11,448 | ||||
Inter Parfums Inc. | 146,788 | 10,724 | ||||
* | Life Time Group Holdings Inc. | 811,426 | 10,451 | |||
* | Cars.com Inc. | 1,103,812 | 10,409 | |||
Scholastic Corp. | 274,557 | 9,876 | ||||
* | Udemy Inc. | 935,669 | 9,553 | |||
Big Lots Inc. | 454,211 | 9,525 | ||||
1 | Guess? Inc. | 550,281 | 9,382 | |||
* | Lions Gate Entertainment Corp. Class A | 959,662 | 8,934 | |||
Dine Brands Global Inc. | 133,253 | 8,672 | ||||
* | BJ's Restaurants Inc. | 371,936 | 8,064 | |||
Caleres Inc. | 303,935 | 7,975 | ||||
Aaron's Co. Inc. | 488,316 | 7,105 | ||||
* | Zumiez Inc. | 260,213 | 6,766 | |||
* | Clear Channel Outdoor Holdings Inc. | 5,937,877 | 6,354 | |||
* | Central Garden & Pet Co. | 146,506 | 6,215 | |||
Rush Enterprises Inc. Class B | 122,239 | 6,064 | ||||
* | Cardlytics Inc. | 257,149 | 5,737 | |||
* | WW International Inc. | 887,376 | 5,670 | |||
* | Genesco Inc. | 109,156 | 5,448 |
Shares | Market Value• ($000) | |||||
Smith & Wesson Brands Inc. | 381,000 | 5,003 | ||||
Global Industrial Co. | 142,813 | 4,823 | ||||
* | Children's Place Inc. | 107,468 | 4,183 | |||
*,1 | Bed Bath & Beyond Inc. | 534,400 | 2,656 | |||
* | Vizio Holding Corp. Class A | 387,789 | 2,645 | |||
1 | Weber Inc. Class A | 354,026 | 2,553 | |||
*,1 | Cricut Inc. Class A | 400,553 | 2,459 | |||
* | Traeger Inc. | 247,470 | 1,052 | |||
*,1 | Bowlero Corp. | 89,705 | 950 | |||
5,852,891 | ||||||
Consumer Staples (3.9%) | ||||||
Bunge Ltd. | 2,531,182 | 229,553 | ||||
* | Performance Food Group Co. | 2,587,316 | 118,965 | |||
* | US Foods Holding Corp. | 3,736,794 | 114,645 | |||
Ingredion Inc. | 1,050,435 | 92,606 | ||||
Lamb Weston Holdings Inc. | 1,203,785 | 86,022 | ||||
Molson Coors Beverage Co. Class B | 1,504,477 | 82,009 | ||||
Flowers Foods Inc. | 3,005,346 | 79,101 | ||||
Sanderson Farms Inc. | 354,338 | 76,370 | ||||
* | Grocery Outlet Holding Corp. | 1,445,731 | 61,632 | |||
Spectrum Brands Holdings Inc. | 680,802 | 55,839 | ||||
* | Hostess Brands Inc. Class A | 2,305,685 | 48,904 | |||
* | Sprouts Farmers Market Inc. | 1,827,696 | 46,277 | |||
* | TreeHouse Foods Inc. | 933,700 | 39,047 | |||
* | United Natural Foods Inc. | 971,245 | 38,267 | |||
* | Post Holdings Inc. | 455,917 | 37,545 | |||
Nu Skin Enterprises Inc. Class A | 794,827 | 34,416 | ||||
Energizer Holdings Inc. | 1,192,216 | 33,799 | ||||
* | Hain Celestial Group Inc. | 1,421,810 | 33,754 | |||
* | Herbalife Nutrition Ltd. | 1,625,177 | 33,235 | |||
Edgewell Personal Care Co. | 879,767 | 30,370 | ||||
1 | B&G Foods Inc. | 1,147,400 | 27,285 | |||
* | Pilgrim's Pride Corp. | 799,939 | 24,982 | |||
Reynolds Consumer Products Inc. | 872,635 | 23,797 | ||||
Universal Corp. | 389,002 | 23,535 | ||||
Vector Group Ltd. | 2,201,024 | 23,111 | ||||
Lancaster Colony Corp. | 161,429 | 20,789 | ||||
Weis Markets Inc. | 270,277 | 20,146 | ||||
Fresh Del Monte Produce Inc. | 640,615 | 18,917 | ||||
Andersons Inc. | 505,474 | 16,676 | ||||
Utz Brands Inc. | 1,138,329 | 15,732 |
Shares | Market Value• ($000) | |||||
Seaboard Corp. | 3,856 | 14,971 | ||||
* | Duckhorn Portfolio Inc. | 578,033 | 12,173 | |||
* | Beauty Health Co. | 816,381 | 10,499 | |||
ACCO Brands Corp. | 1,543,365 | 10,078 | ||||
Tootsie Roll Industries Inc. | 118,596 | 4,192 | ||||
*,1 | Rite Aid Corp. | 442,591 | 2,983 | |||
*,1 | BRC Inc. Class A | 55,354 | 452 | |||
1,642,674 | ||||||
Energy (6.1%) | ||||||
APA Corp. | 5,641,158 | 196,876 | ||||
Ovintiv Inc. | 4,306,716 | 190,314 | ||||
Chesapeake Energy Corp. | 2,123,031 | 172,178 | ||||
* | Antero Resources Corp. | 4,670,946 | 143,165 | |||
Marathon Oil Corp. | 5,903,531 | 132,711 | ||||
* | Southwestern Energy Co. | 18,625,145 | 116,407 | |||
Targa Resources Corp. | 1,901,987 | 113,492 | ||||
NOV Inc. | 6,556,649 | 110,873 | ||||
HF Sinclair Corp. | 2,421,532 | 109,356 | ||||
* | First Solar Inc. | 1,601,412 | 109,104 | |||
* | Range Resources Corp. | 4,277,083 | 105,858 | |||
EQT Corp. | 2,775,159 | 95,466 | ||||
DT Midstream Inc. | 1,612,207 | 79,030 | ||||
Murphy Oil Corp. | 2,464,270 | 74,396 | ||||
Helmerich & Payne Inc. | 1,582,071 | 68,124 | ||||
Patterson-UTI Energy Inc. | 3,608,901 | 56,876 | ||||
California Resources Corp. | 1,293,772 | 49,810 | ||||
* | PBF Energy Inc. Class A | 1,708,783 | 49,589 | |||
Antero Midstream Corp. | 5,181,714 | 46,895 | ||||
Whiting Petroleum Corp. | 653,951 | 44,488 | ||||
Equitrans Midstream Corp. | 6,850,168 | 43,567 | ||||
* | CNX Resources Corp. | 2,604,228 | 42,866 | |||
* | Peabody Energy Corp. | 1,920,595 | 40,966 | |||
Arcosa Inc. | 806,211 | 37,432 | ||||
Arch Resources Inc. | 258,397 | 36,974 | ||||
Chord Energy Corp. | 292,547 | 35,588 | ||||
SM Energy Co. | 1,015,320 | 34,714 | ||||
* | Transocean Ltd. | 9,642,735 | 32,110 | |||
* | Delek US Holdings Inc. | 1,178,887 | 30,463 | |||
Warrior Met Coal Inc. | 860,684 | 26,346 | ||||
World Fuel Services Corp. | 995,541 | 20,369 | ||||
Archrock Inc. | 2,450,549 | 20,266 | ||||
* | NOW Inc. | 1,838,503 | 17,981 | |||
CVR Energy Inc. | 504,972 | 16,917 | ||||
* | SunPower Corp. | 1,053,119 | 16,650 | |||
* | NexTier Oilfield Solutions Inc. | 1,734,806 | 16,498 | |||
Core Laboratories NV | 775,326 | 15,359 | ||||
* | ProPetro Holding Corp. | 1,473,275 | 14,733 |
Shares | Market Value• ($000) | |||||
* | MRC Global Inc. | 1,314,249 | 13,090 | |||
* | Stem Inc. | 1,222,244 | 8,751 | |||
*,1 | Fluence Energy Inc. Class A | 600,668 | 5,694 | |||
*,1 | EVgo Inc. | 579,877 | 3,485 | |||
1 | Crescent Energy Co. Class A | 263,480 | 3,288 | |||
*,1 | ProFrac Holding Corp. Class A | 132,395 | 2,424 | |||
2,601,539 | ||||||
Financials (22.3%) | ||||||
Brown & Brown Inc. | 3,766,495 | 219,737 | ||||
First Horizon Corp. | 8,915,959 | 194,903 | ||||
Signature Bank | 1,052,662 | 188,648 | ||||
American Financial Group Inc. | 1,206,979 | 167,541 | ||||
Comerica Inc. | 2,181,480 | 160,077 | ||||
Assurant Inc. | 902,521 | 156,001 | ||||
East West Bancorp Inc. | 2,367,309 | 153,402 | ||||
Carlyle Group Inc. | 4,227,073 | 133,829 | ||||
Reinsurance Group of America Inc. | 1,117,948 | 131,124 | ||||
First Citizens BancShares Inc. Class A | 200,184 | 130,876 | ||||
Zions Bancorp NA | 2,525,580 | 128,552 | ||||
Webster Financial Corp. | 2,971,598 | 125,253 | ||||
Invesco Ltd. | 7,597,147 | 122,542 | ||||
Commerce Bancshares Inc. | 1,813,641 | 119,066 | ||||
LPL Financial Holdings Inc. | 633,801 | 116,924 | ||||
RenaissanceRe Holdings Ltd. | 737,511 | 115,325 | ||||
Cullen/Frost Bankers Inc. | 962,771 | 112,115 | ||||
SEI Investments Co. | 2,062,150 | 111,397 | ||||
Old Republic International Corp. | 4,633,039 | 103,595 | ||||
Starwood Property Trust Inc. | 4,867,310 | 101,678 | ||||
Voya Financial Inc. | 1,705,941 | 101,555 | ||||
Prosperity Bancshares Inc. | 1,462,305 | 99,832 | ||||
SouthState Corp. | 1,259,840 | 97,197 | ||||
Unum Group | 2,853,818 | 97,087 | ||||
AGNC Investment Corp. | 8,737,847 | 96,728 | ||||
Stifel Financial Corp. | 1,690,403 | 94,696 | ||||
First American Financial Corp. | 1,703,771 | 90,164 | ||||
Popular Inc. | 1,158,276 | 89,106 | ||||
First Financial Bankshares Inc. | 2,263,340 | 88,881 | ||||
Glacier Bancorp Inc. | 1,849,023 | 87,681 | ||||
Selective Insurance Group Inc. | 1,006,025 | 87,464 | ||||
RLI Corp. | 717,615 | 83,667 |
Shares | Market Value• ($000) | |||||
Synovus Financial Corp. | 2,304,944 | 83,093 | ||||
Wintrust Financial Corp. | 1,006,335 | 80,658 | ||||
United Bankshares Inc. | 2,259,669 | 79,247 | ||||
Hanover Insurance Group Inc. | 534,085 | 78,110 | ||||
Primerica Inc. | 648,839 | 77,660 | ||||
Jefferies Financial Group Inc. | 2,794,278 | 77,178 | ||||
Cadence Bank | 3,208,952 | 75,346 | ||||
Affiliated Managers Group Inc. | 645,868 | 75,308 | ||||
Valley National Bancorp | 7,187,425 | 74,821 | ||||
Blackstone Mortgage Trust Inc. Class A | 2,697,203 | 74,632 | ||||
Axis Capital Holdings Ltd. | 1,279,539 | 73,049 | ||||
New Residential Investment Corp. | 7,781,572 | 72,524 | ||||
Old National Bancorp | 4,893,532 | 72,375 | ||||
Globe Life Inc. | 739,844 | 72,113 | ||||
Bank OZK | 1,906,220 | 71,540 | ||||
SLM Corp. | 4,486,702 | 71,518 | ||||
OneMain Holdings Inc. | 1,878,388 | 70,214 | ||||
Home BancShares Inc. | 3,256,221 | 67,632 | ||||
New York Community Bancorp Inc. | 7,395,181 | 67,518 | ||||
Essent Group Ltd. | 1,703,366 | 66,261 | ||||
MGIC Investment Corp. | 5,159,562 | 65,010 | ||||
FNB Corp. | 5,871,646 | 63,766 | ||||
Umpqua Holdings Corp. | 3,622,139 | 60,743 | ||||
Hancock Whitney Corp. | 1,367,905 | 60,639 | ||||
Western Alliance Bancorp | 856,988 | 60,503 | ||||
Lincoln National Corp. | 1,289,564 | 60,313 | ||||
First Interstate BancSystem Inc. Class A | 1,550,280 | 59,081 | ||||
Independent Bank Corp. (Massachusetts) | 742,277 | 58,959 | ||||
White Mountains Insurance Group Ltd. | 47,303 | 58,946 | ||||
1 | Lazard Ltd. Class A | 1,787,168 | 57,922 | |||
Community Bank System Inc. | 900,602 | 56,990 | ||||
Assured Guaranty Ltd. | 1,017,152 | 56,747 | ||||
Radian Group Inc. | 2,883,504 | 56,661 | ||||
UMB Financial Corp. | 645,421 | 55,571 | ||||
CVB Financial Corp. | 2,237,827 | 55,520 | ||||
* | Ryan Specialty Holdings Inc. Class A | 1,378,993 | 54,043 | |||
Evercore Inc. Class A | 575,070 | 53,832 | ||||
United Community Banks Inc. | 1,767,206 | 53,352 | ||||
Janus Henderson Group plc | 2,236,893 | 52,589 | ||||
FirstCash Holdings Inc. | 751,524 | 52,238 | ||||
PacWest Bancorp | 1,957,123 | 52,177 |
Shares | Market Value• ($000) | |||||
* | Brighthouse Financial Inc. | 1,248,305 | 51,205 | |||
Kemper Corp. | 1,063,298 | 50,932 | ||||
Walker & Dunlop Inc. | 525,791 | 50,655 | ||||
Eastern Bankshares Inc. | 2,740,798 | 50,595 | ||||
Bank of Hawaii Corp. | 672,532 | 50,036 | ||||
BankUnited Inc. | 1,363,523 | 48,501 | ||||
First Hawaiian Inc. | 2,134,908 | 48,484 | ||||
Cathay General Bancorp | 1,191,819 | 46,660 | ||||
Pacific Premier Bancorp Inc. | 1,581,976 | 46,257 | ||||
Federated Hermes Inc. Class B | 1,451,387 | 46,140 | ||||
American Equity Investment Life Holding Co. | 1,241,133 | 45,388 | ||||
* | Texas Capital Bancshares Inc. | 845,450 | 44,504 | |||
Simmons First National Corp. Class A | 2,069,338 | 43,994 | ||||
Associated Banc-Corp | 2,377,089 | 43,406 | ||||
WSFS Financial Corp. | 1,077,457 | 43,195 | ||||
Moelis & Co. Class A | 1,080,425 | 42,515 | ||||
First Bancorp | 3,291,729 | 42,496 | ||||
* | Mr Cooper Group Inc. | 1,108,738 | 40,735 | |||
Independent Bank Group Inc. | 599,140 | 40,688 | ||||
Atlantic Union Bankshares Corp. | 1,187,984 | 40,296 | ||||
Fulton Financial Corp. | 2,645,892 | 38,233 | ||||
* | Enstar Group Ltd. | 178,266 | 38,145 | |||
Artisan Partners Asset Management Inc. Class A | 1,067,096 | 37,957 | ||||
Columbia Banking System Inc. | 1,310,543 | 37,547 | ||||
International Bancshares Corp. | 895,074 | 35,875 | ||||
First Merchants Corp. | 991,340 | 35,312 | ||||
CNO Financial Group Inc. | 1,931,918 | 34,948 | ||||
Chimera Investment Corp. | 3,951,132 | 34,849 | ||||
Jackson Financial Inc. Class A | 1,294,635 | 34,631 | ||||
BOK Financial Corp. | 453,991 | 34,313 | ||||
Houlihan Lokey Inc. Class A | 421,987 | 33,307 | ||||
Arbor Realty Trust Inc. | 2,537,645 | 33,269 | ||||
Navient Corp. | 2,341,244 | 32,754 | ||||
Washington Federal Inc. | 1,088,701 | 32,683 | ||||
Banner Corp. | 572,992 | 32,208 | ||||
* | Axos Financial Inc. | 894,253 | 32,059 | |||
Piper Sandler Cos. | 281,924 | 31,959 | ||||
Towne Bank | 1,150,451 | 31,235 | ||||
WesBanco Inc. | 954,171 | 30,257 |
Shares | Market Value• ($000) | |||||
* | Genworth Financial Inc. Class A | 8,514,921 | 30,058 | |||
Flagstar Bancorp Inc. | 842,575 | 29,869 | ||||
Park National Corp. | 243,475 | 29,521 | ||||
First Financial Bancorp | 1,494,750 | 28,998 | ||||
BancFirst Corp. | 299,957 | 28,709 | ||||
Two Harbors Investment Corp. | 5,730,377 | 28,537 | ||||
Trustmark Corp. | 921,172 | 26,889 | ||||
Horace Mann Educators Corp. | 689,508 | 26,463 | ||||
Hope Bancorp Inc. | 1,904,585 | 26,359 | ||||
Northwest Bancshares Inc. | 2,015,589 | 25,800 | ||||
Renasant Corp. | 884,070 | 25,470 | ||||
NBT Bancorp Inc. | 677,254 | 25,458 | ||||
Eagle Bancorp Inc. | 534,018 | 25,318 | ||||
Provident Financial Services Inc. | 1,130,349 | 25,162 | ||||
* | Cannae Holdings Inc. | 1,271,908 | 24,599 | |||
Apollo Commercial Real Estate Finance Inc. | 2,339,314 | 24,422 | ||||
Westamerica Bancorp | 425,139 | 23,663 | ||||
* | PRA Group Inc. | 632,839 | 23,010 | |||
Safety Insurance Group Inc. | 234,400 | 22,760 | ||||
* | Encore Capital Group Inc. | 383,651 | 22,164 | |||
Ameris Bancorp | 548,947 | 22,057 | ||||
1 | Hilltop Holdings Inc. | 810,161 | 21,599 | |||
Argo Group International Holdings Ltd. | 581,457 | 21,432 | ||||
ProAssurance Corp. | 904,631 | 21,376 | ||||
1 | Compass Diversified Holdings | 992,311 | 21,255 | |||
PennyMac Mortgage Investment Trust | 1,528,562 | 21,140 | ||||
Mercury General Corp. | 463,504 | 20,533 | ||||
OFG Bancorp | 808,269 | 20,530 | ||||
Capitol Federal Financial Inc. | 2,204,416 | 20,237 | ||||
Virtus Investment Partners Inc. | 118,025 | 20,185 | ||||
Ladder Capital Corp. | 1,902,842 | 20,056 | ||||
First Commonwealth Financial Corp. | 1,489,283 | 19,986 | ||||
PennyMac Financial Services Inc. | 455,831 | 19,924 | ||||
* | LendingClub Corp. | 1,699,184 | 19,863 | |||
City Holding Co. | 238,090 | 19,019 | ||||
1 | Franklin BSP Realty Trust Inc. | 1,391,592 | 18,759 | |||
MFA Financial Inc. | 1,720,007 | 18,490 | ||||
BGC Partners Inc. Class A | 5,463,552 | 18,412 | ||||
Employers Holdings Inc. | 438,626 | 18,374 |
Shares | Market Value• ($000) | |||||
National Bank Holdings Corp. Class A | 474,050 | 18,142 | ||||
iStar Inc. | 1,307,085 | 17,920 | ||||
Berkshire Hills Bancorp Inc. | 713,105 | 17,664 | ||||
S&T Bancorp Inc. | 624,322 | 17,125 | ||||
Brookline Bancorp Inc. | 1,230,767 | 16,381 | ||||
Redwood Trust Inc. | 2,012,396 | 15,516 | ||||
KKR Real Estate Finance Trust Inc. | 827,876 | 14,446 | ||||
* | Columbia Financial Inc. | 657,458 | 14,339 | |||
Broadmark Realty Capital Inc. | 2,093,238 | 14,046 | ||||
Tompkins Financial Corp. | 194,556 | 14,027 | ||||
* | Blucora Inc. | 751,715 | 13,877 | |||
1 | Claros Mortgage Trust Inc. | 819,077 | 13,720 | |||
United Fire Group Inc. | 400,038 | 13,693 | ||||
Nelnet Inc. Class A | 158,160 | 13,483 | ||||
Heartland Financial USA Inc. | 301,537 | 12,526 | ||||
1 | ARMOUR Residential REIT Inc. | 1,728,267 | 12,167 | |||
Kearny Financial Corp. | 1,061,556 | 11,794 | ||||
Enact Holdings Inc. | 545,597 | 11,719 | ||||
WisdomTree Investments Inc. | 2,088,856 | 10,590 | ||||
Northfield Bancorp Inc. | 736,914 | 9,602 | ||||
Central Pacific Financial Corp. | 437,127 | 9,376 | ||||
TPG RE Finance Trust Inc. | 1,030,426 | 9,284 | ||||
* | Ambac Financial Group Inc. | 754,222 | 8,560 | |||
1 | Invesco Mortgage Capital Inc. | 554,025 | 8,133 | |||
* | SiriusPoint Ltd. | 1,493,846 | 8,097 | |||
* | World Acceptance Corp. | 71,428 | 8,017 | |||
TPG Inc. Class A | 326,259 | 7,801 | ||||
BrightSpire Capital Inc. Class A | 987,561 | 7,456 | ||||
National Western Life Group Inc. Class A | 31,743 | 6,434 | ||||
Victory Capital Holdings Inc. Class A | 229,749 | 5,537 | ||||
1 | UWM Holdings Corp. Class A | 1,394,854 | 4,938 | |||
Granite Point Mortgage Trust Inc. | 451,737 | 4,323 | ||||
GCM Grosvenor Inc. Class A | 614,976 | 4,213 | ||||
* | AssetMark Financial Holdings Inc. | 184,884 | 3,470 | |||
*,1 | Bakkt Holdings Inc. | 945,682 | 1,986 | |||
*,1 | Hagerty Inc. Class A | 106,561 | 1,224 |
Shares | Market Value• ($000) | |||||
Associated Capital Group Inc. Class A | 28,075 | 1,006 | ||||
loanDepot Inc. Class A | 629,291 | 906 | ||||
9,451,259 | ||||||
Health Care (5.3%) | ||||||
* | Molina Healthcare Inc. | 979,347 | 273,835 | |||
* | United Therapeutics Corp. | 755,629 | 178,056 | |||
* | Jazz Pharmaceuticals plc | 987,618 | 154,078 | |||
Organon & Co. | 4,231,284 | 142,806 | ||||
* | Envista Holdings Corp. | 2,714,244 | 104,607 | |||
* | Acadia Healthcare Co. Inc. | 1,510,938 | 102,185 | |||
* | Tenet Healthcare Corp. | 1,798,447 | 94,526 | |||
Encompass Health Corp. | 1,665,974 | 93,378 | ||||
Perrigo Co. plc | 2,242,008 | 90,958 | ||||
Premier Inc. Class A | 1,867,917 | 66,647 | ||||
* | Mirati Therapeutics Inc. | 832,391 | 55,878 | |||
* | Turning Point Therapeutics Inc. | 703,427 | 52,933 | |||
* | Prestige Consumer Healthcare Inc. | 837,504 | 49,245 | |||
* | Karuna Therapeutics Inc. | 373,116 | 47,203 | |||
Patterson Cos. Inc. | 1,463,969 | 44,358 | ||||
* | Enovis Corp. | 765,322 | 42,093 | |||
Select Medical Holdings Corp. | 1,740,983 | 41,122 | ||||
* | Integer Holdings Corp. | 551,621 | 38,978 | |||
Owens & Minor Inc. | 1,204,747 | 37,889 | ||||
* | agilon health Inc. | 1,693,877 | 36,977 | |||
* | Multiplan Corp. | 5,856,340 | 32,151 | |||
* | Pediatrix Medical Group Inc. | 1,453,357 | 30,535 | |||
* | Iovance Biotherapeutics Inc. | 2,352,364 | 25,970 | |||
*,1 | Novavax Inc. | 500,304 | 25,731 | |||
* | Myriad Genetics Inc. | 1,275,271 | 23,172 | |||
* | Meridian Bioscience Inc. | 724,497 | 22,039 | |||
* | Avanos Medical Inc. | 786,464 | 21,502 | |||
Healthcare Services Group Inc. | 1,230,524 | 21,423 | ||||
* | Axsome Therapeutics Inc. | 488,718 | 18,718 | |||
* | Pacific Biosciences of California Inc. | 3,725,138 | 16,465 | |||
National HealthCare Corp. | 233,201 | 16,301 | ||||
* | NextGen Healthcare Inc. | 899,263 | 15,683 | |||
* | Madrigal Pharmaceuticals Inc. | 215,462 | 15,423 | |||
* | Varex Imaging Corp. | 665,236 | 14,229 | |||
* | Reata Pharmaceuticals Inc. Class A | 444,388 | 13,505 |
Shares | Market Value• ($000) | |||||
* | Brookdale Senior Living Inc. | 2,969,705 | 13,483 | |||
* | Bridgebio Pharma Inc. | 1,430,478 | 12,989 | |||
* | Supernus Pharmaceuticals Inc. | 424,816 | 12,286 | |||
* | Embecta Corp. | 483,745 | 12,249 | |||
* | Ligand Pharmaceuticals Inc. | 134,172 | 11,971 | |||
* | Emergent BioSolutions Inc. | 378,783 | 11,758 | |||
* | Agios Pharmaceuticals Inc. | 457,747 | 10,148 | |||
* | OPKO Health Inc. | 3,876,263 | 9,807 | |||
* | NGM Biopharmaceuticals Inc. | 597,342 | 7,658 | |||
* | Orthofix Medical Inc. | 311,549 | 7,334 | |||
* | Amneal Pharmaceuticals Inc. | 2,259,941 | 7,187 | |||
Phibro Animal Health Corp. Class A | 341,346 | 6,530 | ||||
* | Day One Biopharmaceuticals Inc. | 363,257 | 6,502 | |||
* | Cano Health Inc. | 1,391,638 | 6,095 | |||
* | Stoke Therapeutics Inc. | 360,964 | 4,768 | |||
* | Natus Medical Inc. | 145,384 | 4,764 | |||
* | Kiniksa Pharmaceuticals Ltd. Class A | 487,861 | 4,727 | |||
* | Kymera Therapeutics Inc. | 238,082 | 4,688 | |||
* | Atea Pharmaceuticals Inc. | 627,170 | 4,453 | |||
*,1 | 23andMe Holding Co. | 1,694,552 | 4,203 | |||
* | Cullinan Oncology Inc. | 262,586 | 3,366 | |||
* | Immunovant Inc. | 691,109 | 2,695 | |||
*,1 | Nuvalent Inc. Class A | 161,491 | 2,190 | |||
* | ALX Oncology Holdings Inc. | 153,186 | 1,239 | |||
* | Allovir Inc. | 246,414 | 961 | |||
*,1 | P3 Health Partners Inc. | 245,474 | 913 | |||
* | Aveanna Healthcare Holdings Inc. | 387,089 | 875 | |||
* | Endo International plc | 1,870,001 | 871 | |||
* | Adagio Therapeutics Inc. | 229,566 | 753 | |||
* | Praxis Precision Medicines Inc. | 304,896 | 747 | |||
*,1 | Bright Green Corp. | 332,785 | 739 | |||
*,1,2 | Zogenix Inc. CVR | 265,295 | 531 | |||
*,1,2 | Synergy Pharmaceuticals LLC | 1,169,882 | — | |||
2,240,079 | ||||||
Industrials (20.4%) | ||||||
Quanta Services Inc. | 2,397,729 | 300,531 | ||||
IDEX Corp. | 1,266,961 | 230,118 | ||||
Carlisle Cos. Inc. | 862,304 | 205,754 |
Shares | Market Value• ($000) | |||||
Booz Allen Hamilton Holding Corp. | 2,205,272 | 199,268 | ||||
Howmet Aerospace Inc. | 6,275,996 | 197,380 | ||||
RPM International Inc. | 2,160,375 | 170,065 | ||||
* | Builders FirstSource Inc. | 2,883,253 | 154,831 | |||
AECOM | 2,353,293 | 153,482 | ||||
Huntington Ingalls Industries Inc. | 668,240 | 145,556 | ||||
Allegion plc | 1,465,014 | 143,425 | ||||
Sealed Air Corp. | 2,437,677 | 140,703 | ||||
Robert Half International Inc. | 1,751,985 | 131,206 | ||||
Regal Rexnord Corp. | 1,118,220 | 126,940 | ||||
Pentair plc | 2,760,529 | 126,349 | ||||
Tetra Tech Inc. | 895,809 | 122,323 | ||||
Owens Corning | 1,619,919 | 120,376 | ||||
Knight-Swift Transportation Holdings Inc. Class A | 2,593,185 | 120,039 | ||||
Lincoln Electric Holdings Inc. | 969,866 | 119,643 | ||||
AptarGroup Inc. | 1,094,432 | 112,956 | ||||
Sensata Technologies Holding plc | 2,619,874 | 108,227 | ||||
Western Union Co. | 6,443,745 | 106,128 | ||||
Graphic Packaging Holding Co. | 5,146,508 | 105,503 | ||||
* | FTI Consulting Inc. | 575,509 | 104,081 | |||
Donaldson Co. Inc. | 2,062,907 | 99,308 | ||||
AGCO Corp. | 995,419 | 98,248 | ||||
ITT Inc. | 1,394,431 | 93,762 | ||||
Sonoco Products Co. | 1,625,394 | 92,712 | ||||
MDU Resources Group Inc. | 3,395,421 | 91,642 | ||||
* | WESCO International Inc. | 846,781 | 90,690 | |||
Oshkosh Corp. | 1,098,597 | 90,239 | ||||
Acuity Brands Inc. | 577,265 | 88,922 | ||||
* | XPO Logistics Inc. | 1,825,081 | 87,896 | |||
EMCOR Group Inc. | 852,587 | 87,782 | ||||
nVent Electric plc | 2,776,784 | 86,997 | ||||
Brunswick Corp. | 1,262,077 | 82,515 | ||||
* | Axalta Coating Systems Ltd. | 3,697,270 | 81,747 | |||
Hubbell Inc. Class B | 447,986 | 80,001 | ||||
Valmont Industries Inc. | 355,221 | 79,793 | ||||
MSA Safety Inc. | 622,700 | 75,390 | ||||
Louisiana-Pacific Corp. | 1,368,714 | 71,734 | ||||
* | MasTec Inc. | 948,797 | 67,991 | |||
ManpowerGroup Inc. | 879,067 | 67,169 | ||||
Crane Holdings Co. | 747,498 | 65,451 | ||||
Allison Transmission Holdings Inc. | 1,621,416 | 62,343 | ||||
Flowserve Corp. | 2,177,036 | 62,329 | ||||
Vontier Corp. | 2,689,702 | 61,836 | ||||
Applied Industrial Technologies Inc. | 642,039 | 61,745 |
Shares | Market Value• ($000) | |||||
* | Kirby Corp. | 1,005,067 | 61,148 | |||
* | Atkore Inc. | 718,487 | 59,642 | |||
Air Lease Corp. Class A | 1,755,306 | 58,680 | ||||
* | Marqeta Inc. Class A | 7,212,345 | 58,492 | |||
* | Fluor Corp. | 2,366,893 | 57,610 | |||
Ryder System Inc. | 809,635 | 57,533 | ||||
Silgan Holdings Inc. | 1,385,548 | 57,292 | ||||
* | Middleby Corp. | 453,269 | 56,822 | |||
Triton International Ltd. | 1,070,504 | 56,362 | ||||
MSC Industrial Direct Co. Inc. Class A | 747,743 | 56,163 | ||||
Watts Water Technologies Inc. Class A | 457,168 | 56,159 | ||||
GATX Corp. | 594,479 | 55,976 | ||||
* | Mohawk Industries Inc. | 450,107 | 55,854 | |||
Zurn Elkay Water Solutions Corp. | 1,994,328 | 54,325 | ||||
HB Fuller Co. | 884,336 | 53,246 | ||||
Korn Ferry | 898,331 | 52,121 | ||||
Spirit AeroSystems Holdings Inc. Class A | 1,751,737 | 51,326 | ||||
* | API Group Corp. | 3,302,974 | 49,446 | |||
Matson Inc. | 675,807 | 49,253 | ||||
ABM Industries Inc. | 1,114,513 | 48,392 | ||||
Brink's Co. | 783,684 | 47,577 | ||||
* | Resideo Technologies Inc. | 2,426,176 | 47,116 | |||
* | Beacon Roofing Supply Inc. | 916,779 | 47,086 | |||
* | Allegheny Technologies Inc. | 2,069,172 | 46,991 | |||
Otter Tail Corp. | 693,732 | 46,570 | ||||
* | Summit Materials Inc. Class A | 1,967,047 | 45,813 | |||
Woodward Inc. | 480,108 | 44,405 | ||||
Hillenbrand Inc. | 1,075,858 | 44,067 | ||||
EVERTEC Inc. | 1,193,852 | 44,029 | ||||
ManTech International Corp. Class A | 459,296 | 43,840 | ||||
UniFirst Corp. | 252,983 | 43,559 | ||||
* | Meritor Inc. | 1,181,440 | 42,922 | |||
Albany International Corp. Class A | 525,109 | 41,373 | ||||
EnerSys | 677,215 | 39,929 | ||||
Esab Corp. | 900,584 | 39,401 | ||||
Belden Inc. | 737,507 | 39,287 | ||||
Moog Inc. Class A | 483,454 | 38,381 | ||||
* | SPX Corp. | 723,932 | 38,253 | |||
Altra Industrial Motion Corp. | 1,084,234 | 38,219 | ||||
* | Hub Group Inc. Class A | 538,457 | 38,198 | |||
Werner Enterprises Inc. | 976,175 | 37,622 | ||||
* | O-I Glass Inc. | 2,603,389 | 36,447 | |||
Brady Corp. Class A | 761,040 | 35,952 | ||||
Trinity Industries Inc. | 1,389,299 | 33,649 |
Shares | Market Value• ($000) | |||||
Encore Wire Corp. | 312,338 | 32,458 | ||||
Kennametal Inc. | 1,377,786 | 32,006 | ||||
* | Alight Inc. Class A | 4,651,153 | 31,395 | |||
McGrath RentCorp | 405,664 | 30,830 | ||||
Maxar Technologies Inc. | 1,166,698 | 30,439 | ||||
* | GMS Inc. | 680,887 | 30,299 | |||
Terex Corp. | 1,097,132 | 30,028 | ||||
ESCO Technologies Inc. | 430,485 | 29,432 | ||||
Bread Financial Holdings Inc. | 787,930 | 29,201 | ||||
EnPro Industries Inc. | 347,817 | 28,497 | ||||
* | Atlas Air Worldwide Holdings Inc. | 446,045 | 27,525 | |||
ArcBest Corp. | 387,345 | 27,257 | ||||
Greif Inc. Class A | 421,365 | 26,285 | ||||
Barnes Group Inc. | 801,874 | 24,970 | ||||
Comfort Systems USA Inc. | 299,298 | 24,887 | ||||
Griffon Corp. | 853,863 | 23,934 | ||||
* | AAR Corp. | 556,223 | 23,272 | |||
* | Huron Consulting Group Inc. | 353,524 | 22,976 | |||
* | CoreCivic Inc. | 2,032,012 | 22,576 | |||
Granite Construction Inc. | 754,377 | 21,983 | ||||
* | Dycom Industries Inc. | 235,582 | 21,919 | |||
ADT Inc. | 3,545,261 | 21,803 | ||||
* | OSI Systems Inc. | 255,063 | 21,793 | |||
TTEC Holdings Inc. | 312,549 | 21,219 | ||||
* | Gates Industrial Corp. plc | 1,941,628 | 20,989 | |||
* | JELD-WEN Holding Inc. | 1,385,615 | 20,216 | |||
Kforce Inc. | 322,242 | 19,766 | ||||
TriMas Corp. | 711,306 | 19,696 | ||||
Primoris Services Corp. | 886,378 | 19,288 | ||||
* | Green Dot Corp. Class A | 765,150 | 19,213 | |||
Greenbrier Cos. Inc. | 514,420 | 18,514 | ||||
*,1 | Joby Aviation Inc. | 3,525,424 | 17,310 | |||
Standex International Corp. | 202,118 | 17,136 | ||||
AZZ Inc. | 391,868 | 15,996 | ||||
Deluxe Corp. | 722,210 | 15,650 | ||||
*,1 | Proterra Inc. | 3,335,692 | 15,478 | |||
Astec Industries Inc. | 378,975 | 15,455 | ||||
H&E Equipment Services Inc. | 514,671 | 14,910 | ||||
* | Rocket Lab USA Inc. | 3,886,003 | 14,728 | |||
Kaman Corp. | 468,233 | 14,632 | ||||
Apogee Enterprises Inc. | 371,662 | 14,577 | ||||
Schneider National Inc. Class B | 635,448 | 14,221 | ||||
* | Cornerstone Building Brands Inc. | 533,393 | 13,063 | |||
Quanex Building Products Corp. | 558,989 | 12,717 |
Shares | Market Value• ($000) | |||||
*,1 | AvidXchange Holdings Inc. | 1,987,735 | 12,205 | |||
* | ZipRecruiter Inc. Class A | 805,116 | 11,932 | |||
* | Conduent Inc. | 2,681,776 | 11,585 | |||
* | First Advantage Corp. | 887,965 | 11,251 | |||
Heartland Express Inc. | 792,909 | 11,029 | ||||
Wabash National Corp. | 778,232 | 10,568 | ||||
Kelly Services Inc. Class A | 520,768 | 10,327 | ||||
Enerpac Tool Group Corp. Class A | 506,541 | 9,634 | ||||
* | TrueBlue Inc. | 529,239 | 9,473 | |||
Pitney Bowes Inc. | 2,613,545 | 9,461 | ||||
International Seaways Inc. | 415,782 | 8,815 | ||||
* | BrightView Holdings Inc. | 700,687 | 8,408 | |||
*,1 | Enovix Corp. | 919,442 | 8,192 | |||
* | Payoneer Global Inc. | 2,012,940 | 7,891 | |||
Kronos Worldwide Inc. | 387,969 | 7,139 | ||||
* | Triumph Group Inc. | 514,731 | 6,841 | |||
REV Group Inc. | 577,052 | 6,273 | ||||
* | American Woodmark Corp. | 139,100 | 6,261 | |||
* | Tutor Perini Corp. | 686,366 | 6,026 | |||
Pactiv Evergreen Inc. | 597,779 | 5,954 | ||||
National Presto Industries Inc. | 88,522 | 5,811 | ||||
*,1 | Mirion Technologies Inc. | 918,908 | 5,293 | |||
* | Advantage Solutions Inc. | 1,333,814 | 5,068 | |||
Gorman-Rupp Co. | 175,402 | 4,964 | ||||
Hyster-Yale Materials Handling Inc. | 153,790 | 4,955 | ||||
Greif Inc. Class B | 72,950 | 4,544 | ||||
* | Thermon Group Holdings Inc. | 265,426 | 3,729 | |||
* | Vivint Smart Home Inc. | 889,858 | 3,097 | |||
*,1 | Microvast Holdings Inc. | 1,267,114 | 2,813 | |||
* | CIRCOR International Inc. | 169,560 | 2,779 | |||
*,1 | Velodyne Lidar Inc. | 1,218,796 | 1,164 | |||
8,673,675 | ||||||
Real Estate (9.6%) | ||||||
Kimco Realty Corp. | 10,309,461 | 203,818 | ||||
Gaming & Leisure Properties Inc. | 3,923,839 | 179,947 | ||||
Life Storage Inc. | 1,407,666 | 157,180 | ||||
Medical Properties Trust Inc. | 10,014,457 | 152,921 | ||||
* | Jones Lang LaSalle Inc. | 815,398 | 142,580 | |||
Federal Realty OP LP | 1,325,557 | 126,909 | ||||
National Retail Properties Inc. | 2,936,936 | 126,288 | ||||
Omega Healthcare Investors Inc. | 3,926,716 | 110,694 |
Shares | Market Value• ($000) | |||||
Apartment Income REIT Corp. Class A | 2,616,040 | 108,827 | ||||
EastGroup Properties Inc. | 695,728 | 107,372 | ||||
First Industrial Realty Trust Inc. | 2,200,383 | 104,474 | ||||
Brixmor Property Group Inc. | 5,000,856 | 101,067 | ||||
Rayonier Inc. | 2,438,730 | 91,160 | ||||
Agree Realty Corp. | 1,253,523 | 90,417 | ||||
Regency Centers Corp. | 1,436,782 | 85,216 | ||||
Vornado Realty Trust | 2,876,635 | 82,243 | ||||
Cousins Properties Inc. | 2,480,647 | 72,509 | ||||
Healthcare Realty Trust Inc. | 2,527,268 | 68,742 | ||||
Physicians Realty Trust | 3,763,831 | 65,679 | ||||
Lamar Advertising Co. Class A | 725,714 | 63,841 | ||||
Douglas Emmett Inc. | 2,784,241 | 62,311 | ||||
Highwoods Properties Inc. | 1,753,828 | 59,963 | ||||
EPR Properties | 1,251,866 | 58,750 | ||||
STORE Capital Corp. | 2,222,998 | 57,976 | ||||
Sabra Health Care REIT Inc. | 3,859,188 | 53,913 | ||||
Apple Hospitality REIT Inc. | 3,631,858 | 53,279 | ||||
LXP Industrial Trust | 4,780,077 | 51,338 | ||||
Kilroy Realty Corp. | 972,912 | 50,912 | ||||
SL Green Realty Corp. | 1,069,140 | 49,341 | ||||
* | Equity Commonwealth | 1,787,259 | 49,203 | |||
Corporate Office Properties Trust | 1,877,140 | 49,162 | ||||
JBG SMITH Properties | 2,059,928 | 48,697 | ||||
* | DigitalBridge Group Inc. | 9,950,970 | 48,561 | |||
PotlatchDeltic Corp. | 1,098,684 | 48,551 | ||||
Park Hotels & Resorts Inc. | 3,500,220 | 47,498 | ||||
National Health Investors Inc. | 726,284 | 44,020 | ||||
Outfront Media Inc. | 2,462,972 | 41,747 | ||||
SITE Centers Corp. | 3,030,185 | 40,817 | ||||
* | Cushman & Wakefield plc | 2,632,809 | 40,124 | |||
Kennedy-Wilson Holdings Inc. | 1,952,949 | 36,989 | ||||
* | Sunstone Hotel Investors Inc. | 3,587,328 | 35,586 | |||
Hudson Pacific Properties Inc. | 2,291,159 | 34,001 | ||||
1 | Phillips Edison & Co. Inc. | 948,181 | 31,679 | |||
Washington REIT | 1,456,904 | 31,047 | ||||
Retail Opportunity Investments Corp. | 1,966,129 | 31,026 | ||||
Macerich Co. | 3,397,573 | 29,593 |
Shares | Market Value• ($000) | |||||
* | DiamondRock Hospitality Co. | 3,512,928 | 28,841 | |||
Urban Edge Properties | 1,857,907 | 28,259 | ||||
* | Xenia Hotels & Resorts Inc. | 1,904,350 | 27,670 | |||
Brandywine Realty Trust | 2,853,876 | 27,511 | ||||
InvenTrust Properties Corp. | 1,066,351 | 27,501 | ||||
Piedmont Office Realty Trust Inc. Class A | 2,053,442 | 26,941 | ||||
LTC Properties Inc. | 656,835 | 25,216 | ||||
Acadia Realty Trust | 1,579,318 | 24,669 | ||||
Global Net Lease Inc. | 1,734,483 | 24,560 | ||||
Newmark Group Inc. Class A | 2,445,145 | 23,645 | ||||
Tanger Factory Outlet Centers Inc. | 1,650,038 | 23,464 | ||||
American Assets Trust Inc. | 754,887 | 22,420 | ||||
Alexander & Baldwin Inc. | 1,208,632 | 21,695 | ||||
Centerspace | 255,399 | 20,828 | ||||
Empire State Realty Trust Inc. Class A | 2,794,718 | 19,647 | ||||
* | Anywhere Real Estate Inc. | 1,881,118 | 18,491 | |||
Pebblebrook Hotel Trust | 1,091,519 | 18,086 | ||||
Getty Realty Corp. | 661,011 | 17,517 | ||||
* | Veris Residential Inc. | 1,284,818 | 17,011 | |||
* | Apartment Investment & Management Co. Class A | 2,558,136 | 16,372 | |||
Necessity Retail REIT Inc. Class A | 2,227,811 | 16,218 | ||||
Office Properties Income Trust | 808,784 | 16,135 | ||||
Industrial Logistics Properties Trust | 1,097,949 | 15,459 | ||||
*,1 | Compass Inc. Class A | 4,270,885 | 15,418 | |||
CareTrust REIT Inc. | 815,222 | 15,033 | ||||
Service Properties Trust | 2,776,160 | 14,519 | ||||
RPT Realty | 1,424,379 | 14,002 | ||||
* | GEO Group Inc. | 1,953,774 | 12,895 | |||
*,1 | WeWork Inc. | 2,363,433 | 11,864 | |||
Saul Centers Inc. | 219,201 | 10,327 | ||||
RMR Group Inc. Class A | 260,041 | 7,372 | ||||
Diversified Healthcare Trust | 4,001,426 | 7,283 | ||||
Bridge Investment Group Holdings Inc. Class A | 462,824 | 6,729 | ||||
Franklin Street Properties Corp. | 1,548,380 | 6,457 | ||||
* | Summit Hotel Properties Inc. | 850,291 | 6,182 | |||
Douglas Elliman Inc. | 1,088,061 | 5,212 |
Shares | Market Value• ($000) | |||||
Urstadt Biddle Properties Inc. Class A | 252,059 | 4,083 | ||||
* | Forestar Group Inc. | 283,694 | 3,884 | |||
Alexander's Inc. | 16,994 | 3,775 | ||||
* | Seritage Growth Properties Class A | 292,286 | 1,523 | |||
Urstadt Biddle Properties Inc. | 22,797 | 395 | ||||
*,2 | Spirit MTA REIT | 334,911 | 90 | |||
4,083,167 | ||||||
Technology (6.2%) | ||||||
* | Arrow Electronics Inc. | 1,118,739 | 125,399 | |||
* | DXC Technology Co. | 4,080,175 | 123,670 | |||
Leidos Holdings Inc. | 1,140,645 | 114,874 | ||||
KBR Inc. | 2,329,371 | 112,718 | ||||
* | CACI International Inc. Class A | 390,815 | 110,124 | |||
Jabil Inc. | 2,121,523 | 108,643 | ||||
CDK Global Inc. | 1,944,863 | 106,520 | ||||
Concentrix Corp. | 700,619 | 95,032 | ||||
* | Change Healthcare Inc. | 3,905,099 | 90,052 | |||
Science Applications International Corp. | 932,101 | 86,779 | ||||
* | Synaptics Inc. | 660,089 | 77,924 | |||
* | F5 Inc. | 503,869 | 77,112 | |||
* | SentinelOne Inc. Class A | 3,125,022 | 72,907 | |||
Avnet Inc. | 1,628,533 | 69,831 | ||||
* | Cirrus Logic Inc. | 935,453 | 67,858 | |||
TD SYNNEX Corp. | 720,837 | 65,668 | ||||
* | NCR Corp. | 2,048,676 | 63,734 | |||
* | Teradata Corp. | 1,657,277 | 61,336 | |||
* | Dun & Bradstreet Holdings Inc. | 3,978,972 | 59,804 | |||
* | Insight Enterprises Inc. | 585,812 | 50,544 | |||
* | Verint Systems Inc. | 1,077,782 | 45,644 | |||
* | NetScout Systems Inc. | 1,173,587 | 39,726 | |||
* | Rambus Inc. | 1,837,660 | 39,491 | |||
* | Sanmina Corp. | 963,547 | 39,245 | |||
Vishay Intertechnology Inc. | 2,199,151 | 39,189 | ||||
* | Covetrus Inc. | 1,743,499 | 36,178 | |||
* | Plexus Corp. | 438,983 | 34,460 | |||
Progress Software Corp. | 730,119 | 33,074 | ||||
* | Kyndryl Holdings Inc. | 3,367,578 | 32,935 | |||
Amkor Technology Inc. | 1,836,006 | 31,120 | ||||
CSG Systems International Inc. | 513,383 | 30,639 | ||||
* | Super Micro Computer Inc. | 734,524 | 29,638 | |||
* | Ziff Davis Inc. | 374,011 | 27,875 | |||
* | Allscripts Healthcare Solutions Inc. | 1,835,495 | 27,220 | |||
Xerox Holdings Corp. | 1,806,276 | 26,823 | ||||
* | Blackbaud Inc. | 440,632 | 25,587 | |||
* | Parsons Corp. | 604,126 | 24,419 |
Shares | Market Value• ($000) | |||||
Xperi Holding Corp. | 1,643,279 | 23,713 | ||||
* | CCC Intelligent Solutions Holdings Inc. | 2,555,977 | 23,515 | |||
* | Allegro MicroSystems Inc. | 1,119,109 | 23,154 | |||
*,1 | C3.ai Inc. Class A | 1,197,086 | 21,859 | |||
Methode Electronics Inc. | 583,591 | 21,616 | ||||
* | TTM Technologies Inc. | 1,522,819 | 19,035 | |||
*,1 | Squarespace Inc. Class A | 836,311 | 17,496 | |||
* | Cerence Inc. | 626,711 | 15,812 | |||
* | Olo Inc. Class A | 1,450,083 | 14,312 | |||
* | ScanSource Inc. | 422,527 | 13,157 | |||
* | Unisys Corp. | 1,072,773 | 12,905 | |||
Benchmark Electronics Inc. | 558,949 | 12,610 | ||||
* | Informatica Inc. Class A | 593,115 | 12,319 | |||
* | Amplitude Inc. Class A | 750,364 | 10,723 | |||
*,1 | Expensify Inc. Class A | 512,854 | 9,124 | |||
*,1 | Rackspace Technology Inc. | 1,058,527 | 7,590 | |||
*,1 | Samsara Inc. Class A | 645,562 | 7,211 | |||
SolarWinds Corp. | 673,551 | 6,904 | ||||
* | Couchbase Inc. | 410,879 | 6,747 | |||
* | N-able Inc. | 523,516 | 4,712 | |||
* | AvePoint Inc. | 1,072,961 | 4,657 | |||
*,1 | SmartRent Inc. Class A | 817,769 | 3,696 | |||
*,1 | Groupon Inc. | 326,078 | 3,685 | |||
Ebix Inc. | 207,906 | 3,514 | ||||
* | Avaya Holdings Corp. | 1,355,138 | 3,036 | |||
1 | Vivid Seats Inc. Class A | 398,135 | 2,974 | |||
* | Vertex Inc. Class A | 249,752 | 2,830 | |||
* | Nextdoor Holdings Inc. | 830,210 | 2,748 | |||
*,1 | WM Technology Inc. | 576,670 | 1,897 | |||
* | Planet Labs PBC | 303,422 | 1,314 | |||
* | Loyalty Ventures Inc. | 165,093 | 589 | |||
* | BuzzFeed Inc. | 217,527 | 335 | |||
2,619,581 | ||||||
Telecommunications (1.2%) | ||||||
* | Frontier Communications Parent Inc. | 4,088,818 | 96,251 | |||
Juniper Networks Inc. | 2,698,582 | 76,910 | ||||
* | Iridium Communications Inc. | 1,919,243 | 72,087 | |||
* | Viavi Solutions Inc. | 3,796,123 | 50,223 | |||
* | Vonage Holdings Corp. | 2,138,387 | 40,287 | |||
* | Altice USA Inc. Class A | 3,602,616 | 33,324 | |||
InterDigital Inc. | 513,719 | 31,234 | ||||
* | Plantronics Inc. | 681,857 | 27,056 | |||
Telephone & Data Systems Inc. | 1,696,903 | 26,794 | ||||
* | CommScope Holding Co. Inc. | 3,275,411 | 20,045 |
Shares | Market Value• ($000) | |||||
Shenandoah Telecommunications Co. | 790,337 | 17,545 | ||||
* | EchoStar Corp. Class A | 592,309 | 11,432 | |||
* | NETGEAR Inc. | 457,733 | 8,477 | |||
* | United States Cellular Corp. | 264,092 | 7,648 | |||
*,1 | fuboTV Inc. | 2,790,113 | 6,892 | |||
ADTRAN Inc. | 390,599 | 6,847 | ||||
533,052 | ||||||
Utilities (5.6%) | ||||||
Atmos Energy Corp. | 2,318,559 | 259,911 | ||||
Essential Utilities Inc. | 3,934,695 | 180,406 | ||||
Constellation Energy Corp. | 2,725,871 | 156,083 | ||||
NRG Energy Inc. | 3,958,973 | 151,114 | ||||
Pinnacle West Capital Corp. | 1,885,637 | 137,878 | ||||
UGI Corp. | 3,503,719 | 135,279 | ||||
OGE Energy Corp. | 3,341,960 | 128,866 | ||||
National Fuel Gas Co. | 1,526,586 | 100,831 | ||||
Southwest Gas Holdings Inc. | 1,047,117 | 91,183 | ||||
IDACORP Inc. | 844,129 | 89,410 | ||||
Black Hills Corp. | 1,080,794 | 78,649 | ||||
ONE Gas Inc. | 901,383 | 73,183 | ||||
Portland General Electric Co. | 1,487,293 | 71,881 | ||||
New Jersey Resources Corp. | 1,602,682 | 71,367 | ||||
Hawaiian Electric Industries Inc. | 1,732,646 | 70,865 | ||||
South Jersey Industries Inc. | 2,044,876 | 69,812 | ||||
PNM Resources Inc. | 1,433,781 | 68,506 | ||||
* | Stericycle Inc. | 1,534,659 | 67,295 | |||
Spire Inc. | 825,426 | 61,387 | ||||
ALLETE Inc. | 941,788 | 55,358 | ||||
NorthWestern Corp. | 902,718 | 53,197 | ||||
Avista Corp. | 1,207,998 | 52,560 |
Shares | Market Value• ($000) | |||||
American States Water Co. | 616,127 | 50,221 | ||||
MGE Energy Inc. | 602,677 | 46,906 | ||||
Northwest Natural Holding Co. | 570,718 | 30,305 | ||||
California Water Service Group | 447,142 | 24,839 | ||||
* | Harsco Corp. | 1,330,159 | 9,458 | |||
*,1 | Excelerate Energy Inc. Class A | 153,887 | 3,065 | |||
*,1 | NuScale Power Corp. | 123,330 | 1,232 | |||
2,391,047 | ||||||
Total Common Stocks (Cost $37,273,805) | 42,368,160 | |||||
Temporary Cash Investments (1.1%) | ||||||
Money Market Fund (1.1%) | ||||||
3,4 | Vanguard Market Liquidity Fund, 1.417% (Cost $451,547) | 4,516,839 | 451,548 | |||
Total Investments (100.9%) (Cost $37,725,352) | 42,819,708 | |||||
Other Assets and Liabilities—Net (-0.9%) | (370,511) | |||||
Net Assets (100%) | 42,449,197 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $368,354,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
4 | Collateral of $394,276,000 was received for securities on loan. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2022 | 820 | 70,028 | (1,131) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Bridgebio Pharma Inc. | 8/31/22 | BANA | 2,049 | (1.330) | 673 | — |
Novavax Inc. | 1/31/23 | GSI | 6,185 | (1.633) | 1,527 | — |
Popular Inc. | 8/31/22 | BANA | 9,805 | (1.634) | — | (526) |
SunPower Corp. | 1/31/23 | GSI | 6,834 | (1.554) | — | (625) |
2,200 | (1,151) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $37,273,805) | 42,368,160 |
Affiliated Issuers (Cost $451,547) | 451,548 |
Total Investments in Securities | 42,819,708 |
Investment in Vanguard | 1,700 |
Cash Collateral Pledged—Futures Contracts | 3,530 |
Receivables for Investment Securities Sold | 37,385 |
Receivables for Accrued Income | 57,160 |
Receivables for Capital Shares Issued | 9,779 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 2,200 |
Total Assets | 42,931,462 |
Liabilities | |
Due to Custodian | 31,676 |
Payables for Investment Securities Purchased | 37,487 |
Collateral for Securities on Loan | 394,276 |
Payables for Capital Shares Redeemed | 16,051 |
Payables to Vanguard | 1,223 |
Variation Margin Payable—Futures Contracts | 401 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 1,151 |
Total Liabilities | 482,265 |
Net Assets | 42,449,197 |
1 Includes $368,354 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 38,564,054 |
Total Distributable Earnings (Loss) | 3,885,143 |
Net Assets | 42,449,197 |
Investor Shares—Net Assets | |
Applicable to 4,186,015 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 150,398 |
Net Asset Value Per Share—Investor Shares | $35.93 |
ETF Shares—Net Assets | |
Applicable to 146,337,839 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 21,925,644 |
Net Asset Value Per Share—ETF Shares | $149.83 |
Admiral Shares—Net Assets | |
Applicable to 254,074,879 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,357,274 |
Net Asset Value Per Share—Admiral Shares | $64.38 |
Institutional Shares—Net Assets | |
Applicable to 111,597,720 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 4,015,881 |
Net Asset Value Per Share—Institutional Shares | $35.99 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 389,439 |
Interest2 | 71 |
Securities Lending—Net | 3,577 |
Total Income | 393,087 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 805 |
Management and Administrative—Investor Shares | 159 |
Management and Administrative—ETF Shares | 7,444 |
Management and Administrative—Admiral Shares | 5,457 |
Management and Administrative—Institutional Shares | 1,134 |
Marketing and Distribution—Investor Shares | 7 |
Marketing and Distribution—ETF Shares | 396 |
Marketing and Distribution—Admiral Shares | 392 |
Marketing and Distribution—Institutional Shares | 77 |
Custodian Fees | 283 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 421 |
Shareholders’ Reports—Admiral Shares | 106 |
Shareholders’ Reports—Institutional Shares | 35 |
Trustees’ Fees and Expenses | 12 |
Other Expenses | 8 |
Total Expenses | 16,736 |
Expenses Paid Indirectly | (2) |
Net Expenses | 16,734 |
Net Investment Income | 376,353 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 1,754,527 |
Futures Contracts | (14,314) |
Swap Contracts | (30,968) |
Realized Net Gain (Loss) | 1,709,245 |
Statement of Operations (continued) | |
Six Months Ended June 30, 2022 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (9,958,012) |
Futures Contracts | (1,083) |
Swap Contracts | 13,604 |
Change in Unrealized Appreciation (Depreciation) | (9,945,491) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (7,859,893) |
1 | Dividends are net of foreign withholding taxes of $12,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $71,000, ($28,000), and ($30,000), respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $2,391,511,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 376,353 | 869,598 | |
Realized Net Gain (Loss) | 1,709,245 | 2,618,650 | |
Change in Unrealized Appreciation (Depreciation) | (9,945,491) | 7,023,947 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (7,859,893) | 10,512,195 | |
Distributions | |||
Investor Shares | (1,277) | (4,230) | |
ETF Shares | (198,012) | (452,167) | |
Admiral Shares | (145,424) | (333,221) | |
Institutional Shares | (36,109) | (82,438) | |
Total Distributions | (380,822) | (872,056) | |
Capital Share Transactions | |||
Investor Shares | (27,612) | (85,331) | |
ETF Shares | (638,169) | 4,135,700 | |
Admiral Shares | 203,709 | 1,226,583 | |
Institutional Shares | 50,483 | 25,431 | |
Net Increase (Decrease) from Capital Share Transactions | (411,589) | 5,302,383 | |
Total Increase (Decrease) | (8,652,304) | 14,942,522 | |
Net Assets | |||
Beginning of Period | 51,101,501 | 36,158,979 | |
End of Period | 42,449,197 | 51,101,501 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $42.87 | $34.08 | $32.86 | $27.35 | $31.82 | $29.00 |
Investment Operations | ||||||
Net Investment Income1 | .286 | .724 | .550 | .543 | .603 | .534 |
Net Realized and Unrealized Gain (Loss) on Investments | (6.930) | 8.767 | 1.208 | 5.608 | (4.471) | 2.820 |
Total from Investment Operations | (6.644) | 9.491 | 1.758 | 6.151 | (3.868) | 3.354 |
Distributions | ||||||
Dividends from Net Investment Income | (.296) | (.701) | (.538) | (.641) | (.602) | (.534) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.296) | (.701) | (.538) | (.641) | (.602) | (.534) |
Net Asset Value, End of Period | $35.93 | $42.87 | $34.08 | $32.86 | $27.35 | $31.82 |
Total Return2 | -15.54% | 27.96% | 5.72% | 22.61% | -12.34% | 11.67% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $150 | $208 | $234 | $255 | $1,501 | $2,060 |
Ratio of Total Expenses to Average Net Assets | 0.19%3 | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 1.54% | 1.78% | 1.98% | 1.76% | 1.92% | 1.82% |
Portfolio Turnover Rate4 | 6% | 16% | 26% | 19% | 18% | 19% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.19%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $178.77 | $142.13 | $137.05 | $114.05 | $132.71 | $120.95 |
Investment Operations | ||||||
Net Investment Income1 | 1.314 | 3.131 | 2.584 | 2.840 | 2.720 | 2.427 |
Net Realized and Unrealized Gain (Loss) on Investments | (28.916) | 36.640 | 4.884 | 22.984 | (18.702) | 11.709 |
Total from Investment Operations | (27.602) | 39.771 | 7.468 | 25.824 | (15.982) | 14.136 |
Distributions | ||||||
Dividends from Net Investment Income | (1.338) | (3.131) | (2.388) | (2.824) | (2.678) | (2.376) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.338) | (3.131) | (2.388) | (2.824) | (2.678) | (2.376) |
Net Asset Value, End of Period | $149.83 | $178.77 | $142.13 | $137.05 | $114.05 | $132.71 |
Total Return | -15.48% | 28.07% | 5.82% | 22.76% | -12.22% | 11.79% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $21,926 | $26,854 | $17,837 | $14,808 | $11,560 | $12,650 |
Ratio of Total Expenses to Average Net Assets | 0.07%2 | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.69% | 1.84% | 2.23% | 2.19% | 2.04% | 1.94% |
Portfolio Turnover Rate3 | 6% | 16% | 26% | 19% | 18% | 19% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $76.81 | $61.07 | $58.89 | $49.01 | $57.02 | $51.97 |
Investment Operations | ||||||
Net Investment Income1 | .562 | 1.381 | 1.058 | 1.230 | 1.165 | 1.039 |
Net Realized and Unrealized Gain (Loss) on Investments | (12.417) | 15.704 | 2.148 | 9.863 | (8.024) | 5.032 |
Total from Investment Operations | (11.855) | 17.085 | 3.206 | 11.093 | (6.859) | 6.071 |
Distributions | ||||||
Dividends from Net Investment Income | (.575) | (1.345) | (1.026) | (1.213) | (1.151) | (1.021) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.575) | (1.345) | (1.026) | (1.213) | (1.151) | (1.021) |
Net Asset Value, End of Period | $64.38 | $76.81 | $61.07 | $58.89 | $49.01 | $57.02 |
Total Return2 | -15.48% | 28.09% | 5.85% | 22.76% | -12.23% | 11.80% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $16,357 | $19,307 | $14,314 | $13,907 | $10,167 | $11,278 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.68% | 1.89% | 2.13% | 2.21% | 2.04% | 1.94% |
Portfolio Turnover Rate4 | 6% | 16% | 26% | 19% | 18% | 19% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $42.94 | $34.14 | $32.92 | $27.39 | $31.87 | $29.05 |
Investment Operations | ||||||
Net Investment Income1 | .317 | .781 | .597 | .684 | .651 | .587 |
Net Realized and Unrealized Gain (Loss) on Investments | (6.944) | 8.775 | 1.199 | 5.527 | (4.485) | 2.808 |
Total from Investment Operations | (6.627) | 9.556 | 1.796 | 6.211 | (3.834) | 3.395 |
Distributions | ||||||
Dividends from Net Investment Income | (.323) | (.756) | (.576) | (.681) | (.646) | (.575) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.323) | (.756) | (.576) | (.681) | (.646) | (.575) |
Net Asset Value, End of Period | $35.99 | $42.94 | $34.14 | $32.92 | $27.39 | $31.87 |
Total Return | -15.48% | 28.11% | 5.86% | 22.81% | -12.23% | 11.80% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $4,016 | $4,733 | $3,774 | $3,632 | $3,077 | $3,649 |
Ratio of Total Expenses to Average Net Assets | 0.06%2 | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.69% | 1.91% | 2.14% | 2.20% | 2.05% | 1.95% |
Portfolio Turnover Rate3 | 6% | 16% | 26% | 19% | 18% | 19% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended June 30, 2022, custodian fee offset arrangements reduced the fund’s expenses by $2,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 42,367,539 | — | 621 | 42,368,160 |
Temporary Cash Investments | 451,548 | — | — | 451,548 |
Total | 42,819,087 | — | 621 | 42,819,708 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 2,200 | — | 2,200 |
Liabilities | ||||
Futures Contracts1 | 1,131 | — | — | 1,131 |
Swap Contracts | — | 1,151 | — | 1,151 |
Total | 1,131 | 1,151 | — | 2,282 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | As of June 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 37,804,661 |
Gross Unrealized Appreciation | 9,784,466 |
Gross Unrealized Depreciation | (4,769,501) |
Net Unrealized Appreciation (Depreciation) | 5,014,965 |
F. | During the six months ended June 30, 2022, the fund purchased $7,810,786,000 of investment securities and sold $8,065,306,000 of investment securities, other than temporary cash investments. Purchases and sales include $4,306,654,000 and $4,946,114,000, respectively, in connection with in-kind purchases and redemptions of the fund’s capital shares. |
G. | Capital share transactions for each class of shares were: |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 9,157 | 224 | 54,280 | 1,367 | |
Issued in Lieu of Cash Distributions | 1,277 | 33 | 4,230 | 104 | |
Redeemed | (38,046) | (921) | (143,841) | (3,484) | |
Net Increase (Decrease)—Investor Shares | (27,612) | (664) | (85,331) | (2,013) | |
ETF Shares | |||||
Issued | 4,658,421 | 28,423 | 7,328,388 | 43,317 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (5,296,590) | (32,300) | (3,192,688) | (18,600) | |
Net Increase (Decrease)—ETF Shares | (638,169) | (3,877) | 4,135,700 | 24,717 | |
Admiral Shares | |||||
Issued | 1,622,178 | 22,249 | 4,310,954 | 59,661 | |
Issued in Lieu of Cash Distributions | 127,804 | 1,854 | 290,460 | 3,954 | |
Redeemed | (1,546,273) | (21,369) | (3,374,831) | (46,666) | |
Net Increase (Decrease)—Admiral Shares | 203,709 | 2,734 | 1,226,583 | 16,949 | |
Institutional Shares | |||||
Issued | 560,186 | 13,800 | 1,068,001 | 26,335 | |
Issued in Lieu of Cash Distributions | 34,157 | 887 | 77,051 | 1,876 | |
Redeemed | (543,860) | (13,328) | (1,119,621) | (28,530) | |
Net Increase (Decrease)—Institutional Shares | 50,483 | 1,359 | 25,431 | (319) |
H. | Management has determined that no events or transactions occurred subsequent to June 30, 2022, that would require recognition or disclosure in these financial statements. |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
U.S. Patent No. 6,879,964.
Vanguard Marketing Corporation, Distributor.
Mid-Capitalization Portfolios
Vanguard Extended Market Index Fund |
Vanguard Mid-Cap Index Fund |
Vanguard Mid-Cap Growth Index Fund |
Vanguard Mid-Cap Value Index Fund |
About Your Fund's Expenses | 1 |
Extended Market Index Fund | 3 |
Mid-Cap Index Fund | 48 |
Mid-Cap Growth Index Fund | 68 |
Mid-Cap Value Index Fund | 82 |
Trustees Approve Advisory Arrangements | 97 |
Liquidity Risk Management | 98 |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended June 30, 2022 | |||
Beginning Account Value 12/31/2021 | Ending Account Value 6/30/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Extended Market Index Fund | |||
Investor Shares | $1,000.00 | $718.70 | $0.81 |
ETF Shares | 1,000.00 | 719.20 | 0.26 |
Admiral™ Shares | 1,000.00 | 719.20 | 0.26 |
Institutional Shares | 1,000.00 | 719.20 | 0.21 |
Institutional Plus Shares | 1,000.00 | 719.30 | 0.17 |
Institutional Select Shares | 1,000.00 | 719.40 | 0.09 |
Mid-Cap Index Fund | |||
Investor Shares | $1,000.00 | $777.50 | $0.75 |
ETF Shares | 1,000.00 | 778.00 | 0.18 |
Admiral Shares | 1,000.00 | 777.90 | 0.22 |
Institutional Shares | 1,000.00 | 777.90 | 0.18 |
Institutional Plus Shares | 1,000.00 | 778.00 | 0.13 |
Mid-Cap Growth Index Fund | |||
Investor Shares | $1,000.00 | $690.70 | $0.80 |
ETF Shares | 1,000.00 | 691.10 | 0.29 |
Admiral Shares | 1,000.00 | 691.00 | 0.29 |
Mid-Cap Value Index Fund | |||
Investor Shares | $1,000.00 | $869.30 | $0.88 |
ETF Shares | 1,000.00 | 869.80 | 0.32 |
Admiral Shares | 1,000.00 | 869.80 | 0.32 |
Based on Hypothetical 5% Yearly Return | |||
Extended Market Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.50 | 0.30 |
Admiral Shares | 1,000.00 | 1,024.50 | 0.30 |
Institutional Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Plus Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Select Shares | 1,000.00 | 1,024.70 | 0.10 |
Mid-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.60 | 0.20 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Plus Shares | 1,000.00 | 1,024.65 | 0.15 |
Mid-Cap Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.45 | 0.35 |
Admiral Shares | 1,000.00 | 1,024.45 | 0.35 |
Mid-Cap Value Index Fund | |||
Investor Shares | $1,000.00 | $1,023.85 | $0.95 |
ETF Shares | 1,000.00 | 1,024.45 | 0.35 |
Admiral Shares | 1,000.00 | 1,024.45 | 0.35 |
Communication Services | 3.7% |
Consumer Discretionary | 10.6 |
Consumer Staples | 3.0 |
Energy | 4.6 |
Financials | 16.0 |
Health Care | 13.4 |
Industrials | 14.4 |
Information Technology | 19.7 |
Materials | 4.3 |
Other | 0.0 |
Real Estate | 7.7 |
Utilities | 2.6 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.1%) | ||||||
Communication Services (3.7%) | ||||||
* | Liberty Broadband Corp. Class C | 1,879,733 | 217,372 | |||
* | Snap Inc. Class A | 14,637,403 | 192,189 | |||
* | Liberty Media Corp.-Liberty Formula One Class C | 2,690,256 | 170,751 | |||
* | Pinterest Inc. Class A | 7,683,628 | 139,535 | |||
* | ZoomInfo Technologies Inc. Class A | 4,067,807 | 135,214 | |||
* | Roku Inc. | 1,611,128 | 132,338 | |||
* | Liberty Global plc Class C | 4,935,038 | 109,015 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 6,946,743 | 94,128 | |||
Nexstar Media Group Inc. Class A | 541,748 | 88,240 | ||||
* | IAC/InterActiveCorp | 1,127,680 | 85,670 | |||
Cable One Inc. | 65,673 | 84,674 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 2,124,735 | 76,597 | |||
* | Frontier Communications Parent Inc. | 2,799,711 | 65,905 | |||
* | Iridium Communications Inc. | 1,727,526 | 64,886 | |||
New York Times Co. Class A | 2,250,305 | 62,784 | ||||
TEGNA Inc. | 2,947,582 | 61,811 | ||||
1 | Sirius XM Holdings Inc. | 8,115,809 | 49,750 | |||
* | Ziff Davis Inc. | 641,043 | 47,777 | |||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 1,066,088 | 38,422 | |||
Warner Music Group Corp. Class A | 1,553,309 | 37,839 | ||||
World Wrestling Entertainment Inc. Class A | 586,208 | 36,632 | ||||
* | Madison Square Garden Sports Corp. | 229,430 | 34,644 | |||
Cogent Communications Holdings Inc. | 562,648 | 34,186 | ||||
* | Altice USA Inc. Class A | 3,053,535 | 28,245 | |||
John Wiley & Sons Inc. Class A | 590,596 | 28,207 | ||||
* | Bumble Inc. Class A | 971,079 | 27,336 | |||
* | Liberty Global plc Class A | 1,280,628 | 26,957 | |||
* | Cargurus Inc. Class A | 1,160,660 | 24,943 | |||
* | Yelp Inc. Class A | 897,360 | 24,920 | |||
* | TripAdvisor Inc. | 1,328,136 | 23,641 | |||
* | TechTarget Inc. | 353,949 | 23,262 | |||
* | Cinemark Holdings Inc. | 1,423,338 | 21,379 | |||
Telephone & Data Systems Inc. | 1,305,896 | 20,620 | ||||
Gray Television Inc. | 1,200,954 | 20,284 | ||||
* | Liberty Media Corp.-Liberty Formula One Class A | 347,370 | 20,137 | |||
* | Playtika Holding Corp. | 1,383,802 | 18,322 | |||
* | Madison Square Garden Entertainment Corp. | 341,038 | 17,945 | |||
* | Liberty Broadband Corp. Class A | 144,598 | 16,419 | |||
Scholastic Corp. | 414,892 | 14,924 | ||||
Shenandoah Telecommunications Co. | 667,438 | 14,817 | ||||
* | Gogo Inc. | 896,250 | 14,510 | |||
* | Lions Gate Entertainment Corp. Class B | 1,636,798 | 14,453 | |||
* | Radius Global Infrastructure Inc. | 941,711 | 14,371 | |||
* | Liberty Latin America Ltd. Class C | 1,777,809 | 13,849 | |||
* | Magnite Inc. | 1,535,293 | 13,633 | |||
* | WideOpenWest Inc. | 705,213 | 12,842 | |||
* | Vimeo Inc. | 2,104,607 | 12,670 | |||
Sinclair Broadcast Group Inc. Class A | 584,220 | 11,918 | ||||
* | iHeartMedia Inc. Class A | 1,466,089 | 11,567 | |||
* | AMC Networks Inc. Class A | 395,142 | 11,507 | |||
* | Liberty Media Corp.-Liberty Braves Class C | 465,517 | 11,172 | |||
* | Globalstar Inc. | 8,873,742 | 10,915 | |||
* | Eventbrite Inc. Class A | 1,023,993 | 10,516 | |||
* | Anterix Inc. | 246,503 | 10,124 | |||
* | EchoStar Corp. Class A | 520,312 | 10,042 | |||
* | Cardlytics Inc. | 446,196 | 9,955 | |||
* | EW Scripps Co. Class A | 775,311 | 9,668 | |||
* | PubMatic Inc. Class A | 596,843 | 9,484 |
Shares | Market Value• ($000) | |||||
*,1 | Charge Enterprises Inc. | 1,978,844 | 9,439 | |||
* | Cars.com Inc. | 867,497 | 8,180 | |||
* | Lions Gate Entertainment Corp. Class A | 815,797 | 7,595 | |||
* | Consolidated Communications Holdings Inc. | 986,925 | 6,908 | |||
* | Liberty Latin America Ltd. Class A | 879,551 | 6,861 | |||
* | Clear Channel Outdoor Holdings Inc. | 6,384,120 | 6,831 | |||
* | QuinStreet Inc. | 676,110 | 6,802 | |||
*,1 | fuboTV Inc. | 2,745,486 | 6,781 | |||
ATN International Inc. | 141,007 | 6,615 | ||||
*,1 | Starry Group Holdings Inc. Class A | 1,493,239 | 6,152 | |||
* | IDT Corp. Class B | 235,246 | 5,916 | |||
* | Bandwidth Inc. Class A | 313,027 | 5,891 | |||
* | Gannett Co. Inc. | 1,971,172 | 5,716 | |||
* | Stagwell Inc. | 999,489 | 5,427 | |||
* | United States Cellular Corp. | 183,457 | 5,313 | |||
* | Thryv Holdings Inc. | 234,203 | 5,244 | |||
* | Advantage Solutions Inc. | 1,360,664 | 5,171 | |||
* | Nextdoor Holdings Inc. | 1,529,837 | 5,064 | |||
* | Boston Omaha Corp. Class A | 231,795 | 4,787 | |||
* | Marcus Corp. | 317,813 | 4,694 | |||
*,1 | Playstudios Inc. | 1,092,288 | 4,675 | |||
* | Angi Inc. Class A | 1,020,572 | 4,674 | |||
* | Sciplay Corp. Class A | 327,501 | 4,575 | |||
*,1 | Skillz Inc. Class A | 3,616,291 | 4,484 | |||
*,1 | Liberty Media Corp.-Liberty Braves Class A | 177,664 | 4,468 | |||
Entravision Communications Corp. Class A | 835,184 | 3,808 | ||||
* | Ooma Inc. | 300,626 | 3,559 | |||
*,1 | AST SpaceMobile Inc. | 546,884 | 3,434 | |||
*,1 | Genius Brands International Inc. | 3,944,268 | 2,986 | |||
* | Daily Journal Corp. | 11,157 | 2,887 | |||
* | DHI Group Inc. | 580,240 | 2,884 | |||
* | TrueCar Inc. | 1,107,250 | 2,868 | |||
* | MediaAlpha Inc. Class A | 279,154 | 2,750 | |||
* | Reservoir Media Inc. | 380,922 | 2,484 | |||
* | EverQuote Inc. Class A | 258,096 | 2,282 | |||
* | ZipRecruiter Inc. Class A | 151,403 | 2,244 | |||
* | Integral Ad Science Holding Corp. | 204,655 | 2,032 | |||
*,1 | AdTheorent Holding Co. Inc. | 653,683 | 2,020 | |||
* | Hemisphere Media Group Inc. Class A | 260,645 | 1,989 | |||
* | comScore Inc. | 908,163 | 1,871 | |||
*,1 | Cumulus Media Inc. Class A | 227,630 | 1,760 | |||
Spok Holdings Inc. | 269,844 | 1,700 | ||||
*,1 | System1 Inc. | 237,301 | 1,654 | |||
*,1 | Golden Matrix Group Inc. | 363,580 | 1,629 | |||
Saga Communications Inc. Class A | 62,836 | 1,561 | ||||
* | Emerald Holding Inc. | 366,898 | 1,493 | |||
* | Audacy Inc. Class A | 1,584,481 | 1,493 | |||
*,1 | Leafly Holdings Inc. | 331,500 | 1,492 | |||
*,1 | KORE Group Holdings Inc. | 434,608 | 1,334 | |||
*,1 | Arena Group Holdings Inc. | 147,317 | 1,326 | |||
* | Lee Enterprises Inc. | 68,380 | 1,299 | |||
* | Innovid Corp. | 687,821 | 1,142 | |||
* | Townsquare Media Inc. Class A | 136,294 | 1,116 | |||
*,1 | Urban One Inc. Class A | 203,760 | 1,113 | |||
* | Loyalty Ventures Inc. | 269,437 | 962 | |||
*,1 | Cinedigm Corp. Class A | 1,867,441 | 919 | |||
*,1 | Redbox Entertainment Inc. | 112,252 | 831 | |||
* | Gaia Inc. Class A | 194,110 | 825 | |||
1 | National CineMedia Inc. | 868,027 | 795 | |||
* | Liberty TripAdvisor Holdings Inc. Class A | 1,017,762 | 770 |
Shares | Market Value• ($000) | |||||
* | Reading International Inc. Class A | 211,846 | 765 | |||
* | Fluent Inc. | 638,538 | 760 | |||
*,1 | Chicken Soup For The Soul Entertainment Inc. | 102,374 | 759 | |||
* | IZEA Worldwide Inc. | 784,653 | 705 | |||
*,1 | CuriosityStream Inc. | 392,105 | 663 | |||
*,1 | LiveOne Inc. | 762,327 | 653 | |||
*,1 | Wejo Group Ltd. | 529,730 | 630 | |||
* | Travelzoo | 102,326 | 620 | |||
* | Ballantyne Strong Inc. | 249,405 | 601 | |||
* | Outbrain Inc. | 105,760 | 532 | |||
* | Marchex Inc. Class B | 400,100 | 528 | |||
* | BuzzFeed Inc. | 337,800 | 520 | |||
* | Zedge Inc. Class B | 160,734 | 463 | |||
* | Super League Gaming Inc. | 414,943 | 423 | |||
*,1,2 | NII Holdings Inc. | 1,297,367 | 337 | |||
DallasNews Corp. | 52,044 | 329 | ||||
* | Salem Media Group Inc. Class A | 133,017 | 282 | |||
*,1 | Dolphin Entertainment Inc. | 86,444 | 273 | |||
* | NextPlay Technologies Inc. | 510,817 | 178 | |||
* | Stran & Co. Inc. | 103,686 | 172 | |||
* | Beasley Broadcast Group Inc. Class A | 109,596 | 140 | |||
*,1 | Society Pass Inc. | 71,319 | 138 | |||
* | Insignia Systems Inc. | 17,904 | 137 | |||
* | SPAR Group Inc. | 108,259 | 128 | |||
*,1 | Paltalk Inc. | 62,318 | 125 | |||
* | Creatd Inc. | 149,216 | 110 | |||
* | Kubient Inc. | 128,879 | 85 | |||
* | Cuentas Inc. | 114,035 | 71 | |||
* | Mediaco Holding Inc. Class A | 32,748 | 68 | |||
* | Creative Realities Inc. | 103,597 | 63 | |||
*,1 | Troika Media Group Inc. | 69,905 | 53 | |||
*,1 | Professional Diversity Network Inc. | 73,847 | 52 | |||
* | AutoWeb Inc. | 128,788 | 49 | |||
* | Grom Social Enterprises Inc. | 105,935 | 43 | |||
* | Motorsport Games Inc. Class A | 62,787 | 41 | |||
*,1 | Moving Image Technologies Inc. | 28,721 | 37 | |||
* | Direct Digital Holdings Inc. Class A | 28,276 | 36 | |||
* | Urban One Inc. | 7,400 | 32 | |||
* | NextPlat Corp. | 300 | 1 | |||
2,871,090 | ||||||
Consumer Discretionary (10.5%) | ||||||
* | Airbnb Inc. Class A | 4,915,308 | 437,856 | |||
* | Lululemon Athletica Inc. | 1,562,496 | 425,952 | |||
Service Corp. International | 2,130,867 | 147,286 | ||||
* | DoorDash Inc. Class A | 2,242,610 | 143,908 | |||
* | Burlington Stores Inc. | 886,071 | 120,709 | |||
Vail Resorts Inc. | 544,625 | 118,755 | ||||
Lithia Motors Inc. Class A | 385,973 | 106,069 | ||||
Aramark | 3,457,654 | 105,908 | ||||
* | Mattel Inc. | 4,731,166 | 105,647 | |||
Williams-Sonoma Inc. | 936,043 | 103,854 | ||||
*,1 | GameStop Corp. Class A | 829,316 | 101,425 | |||
Lear Corp. | 802,049 | 100,970 | ||||
*,1 | Lucid Group Inc. | 5,742,776 | 98,546 | |||
* | Deckers Outdoor Corp. | 367,031 | 93,721 | |||
* | Floor & Decor Holdings Inc. Class A | 1,422,442 | 89,557 | |||
Churchill Downs Inc. | 457,765 | 87,676 | ||||
Gentex Corp. | 3,128,974 | 87,517 | ||||
* | Five Below Inc. | 740,894 | 84,040 | |||
* | Capri Holdings Ltd. | 1,988,886 | 81,564 | |||
Wyndham Hotels & Resorts Inc. | 1,221,706 | 80,291 | ||||
* | Planet Fitness Inc. Class A | 1,144,211 | 77,818 | |||
H&R Block Inc. | 2,142,910 | 75,688 | ||||
Autoliv Inc. | 1,047,842 | 74,994 | ||||
Polaris Inc. | 746,348 | 74,097 | ||||
* | TopBuild Corp. | 437,464 | 73,126 | |||
Macy's Inc. | 3,807,863 | 69,760 | ||||
Murphy USA Inc. | 294,734 | 68,635 | ||||
* | Bright Horizons Family Solutions Inc. | 794,396 | 67,142 |
Shares | Market Value• ($000) | |||||
Texas Roadhouse Inc. Class A | 909,521 | 66,577 | ||||
* | Terminix Global Holdings Inc. | 1,630,804 | 66,292 | |||
Brunswick Corp. | 1,006,878 | 65,830 | ||||
Toll Brothers Inc. | 1,458,734 | 65,060 | ||||
* | Skechers USA Inc. Class A | 1,818,713 | 64,710 | |||
Marriott Vacations Worldwide Corp. | 551,849 | 64,125 | ||||
Harley-Davidson Inc. | 1,986,638 | 62,897 | ||||
Leggett & Platt Inc. | 1,791,832 | 61,962 | ||||
Kohl's Corp. | 1,715,939 | 61,242 | ||||
* | Light & Wonder Inc. | 1,289,850 | 60,610 | |||
1 | Dick's Sporting Goods Inc. | 773,189 | 58,275 | |||
*,1 | DraftKings Inc. Class A | 4,846,332 | 56,557 | |||
*,1 | Rivian Automotive Inc. Class A | 2,164,307 | 55,709 | |||
Thor Industries Inc. | 727,593 | 54,373 | ||||
* | AutoNation Inc. | 478,058 | 53,428 | |||
Boyd Gaming Corp. | 1,061,644 | 52,817 | ||||
* | Helen of Troy Ltd. | 320,643 | 52,076 | |||
* | Hyatt Hotels Corp. Class A | 677,579 | 50,080 | |||
* | Asbury Automotive Group Inc. | 295,435 | 50,029 | |||
Tempur Sealy International Inc. | 2,337,039 | 49,943 | ||||
* | RH | 234,293 | 49,731 | |||
* | YETI Holdings Inc. | 1,142,695 | 49,444 | |||
Choice Hotels International Inc. | 442,386 | 49,384 | ||||
Hanesbrands Inc. | 4,700,382 | 48,367 | ||||
* | Ollie's Bargain Outlet Holdings Inc. | 786,091 | 46,183 | |||
* | Fox Factory Holding Corp. | 566,257 | 45,606 | |||
Travel + Leisure Co. | 1,126,203 | 43,719 | ||||
* | Hilton Grand Vacations Inc. | 1,188,991 | 42,483 | |||
Wendy's Co. | 2,249,048 | 42,462 | ||||
* | Dorman Products Inc. | 379,909 | 41,680 | |||
Penske Automotive Group Inc. | 396,664 | 41,527 | ||||
*,1 | Wayfair Inc. Class A | 948,394 | 41,312 | |||
* | Grand Canyon Education Inc. | 427,003 | 40,219 | |||
Academy Sports & Outdoors Inc. | 1,126,121 | 40,022 | ||||
* | Goodyear Tire & Rubber Co. | 3,731,142 | 39,961 | |||
* | Crocs Inc. | 815,382 | 39,685 | |||
* | Visteon Corp. | 372,978 | 38,633 | |||
LCI Industries | 337,144 | 37,720 | ||||
Carter's Inc. | 534,593 | 37,678 | ||||
* | Peloton Interactive Inc. Class A | 4,093,822 | 37,581 | |||
Group 1 Automotive Inc. | 220,175 | 37,386 | ||||
* | Adient plc | 1,260,128 | 37,338 | |||
* | Taylor Morrison Home Corp. Class A | 1,577,590 | 36,853 | |||
Papa John's International Inc. | 428,531 | 35,791 | ||||
* | Meritage Homes Corp. | 490,931 | 35,593 | |||
Signet Jewelers Ltd. | 640,028 | 34,216 | ||||
* | Skyline Champion Corp. | 702,608 | 33,318 | |||
Steven Madden Ltd. | 1,017,385 | 32,770 | ||||
KB Home | 1,139,508 | 32,430 | ||||
* | Chegg Inc. | 1,708,268 | 32,081 | |||
* | Callaway Golf Co. | 1,556,491 | 31,752 | |||
Nordstrom Inc. | 1,498,548 | 31,664 | ||||
*,1 | Chewy Inc. Class A | 891,790 | 30,963 | |||
Columbia Sportswear Co. | 428,815 | 30,695 | ||||
* | Sonos Inc. | 1,689,803 | 30,484 | |||
* | Carvana Co. | 1,338,654 | 30,227 | |||
* | National Vision Holdings Inc. | 1,096,701 | 30,159 | |||
Graham Holdings Co. Class B | 52,914 | 29,994 | ||||
Wingstop Inc. | 397,431 | 29,716 | ||||
*,1 | QuantumScape Corp. Class A | 3,454,350 | 29,673 | |||
* | Under Armour Inc. Class C | 3,872,809 | 29,356 | |||
Foot Locker Inc. | 1,114,133 | 28,132 | ||||
* | Leslie's Inc. | 1,845,907 | 28,021 | |||
* | SeaWorld Entertainment Inc. | 628,312 | 27,759 | |||
* | Gentherm Inc. | 444,592 | 27,747 | |||
* | Boot Barn Holdings Inc. | 395,776 | 27,273 | |||
Dana Inc. | 1,925,338 | 27,090 | ||||
Cracker Barrel Old Country Store Inc. | 312,771 | 26,113 | ||||
Installed Building Products Inc. | 311,487 | 25,903 |
Shares | Market Value• ($000) | |||||
* | Frontdoor Inc. | 1,073,602 | 25,852 | |||
* | Victoria's Secret & Co. | 909,018 | 25,425 | |||
* | LGI Homes Inc. | 285,235 | 24,787 | |||
MDC Holdings Inc. | 752,058 | 24,299 | ||||
*,1 | Duolingo Inc. Class A | 276,690 | 24,224 | |||
Red Rock Resorts Inc. Class A | 709,117 | 23,656 | ||||
Gap Inc. | 2,859,799 | 23,565 | ||||
* | Stride Inc. | 572,687 | 23,360 | |||
* | Tri Pointe Homes Inc. | 1,368,965 | 23,094 | |||
American Eagle Outfitters Inc. | 2,037,606 | 22,780 | ||||
* | Six Flags Entertainment Corp. | 1,039,960 | 22,567 | |||
Wolverine World Wide Inc. | 1,104,986 | 22,277 | ||||
* | Cavco Industries Inc. | 113,532 | 22,251 | |||
* | Adtalem Global Education Inc. | 616,022 | 22,158 | |||
Strategic Education Inc. | 306,651 | 21,643 | ||||
Levi Strauss & Co. Class A | 1,320,640 | 21,553 | ||||
Winnebago Industries Inc. | 440,573 | 21,394 | ||||
Laureate Education Inc. Class A | 1,829,708 | 21,170 | ||||
Kontoor Brands Inc. | 634,338 | 21,168 | ||||
* | Vista Outdoor Inc. | 753,258 | 21,016 | |||
* | Shake Shack Inc. Class A | 522,678 | 20,635 | |||
* | Everi Holdings Inc. | 1,212,258 | 19,772 | |||
ADT Inc. | 3,133,767 | 19,273 | ||||
Monro Inc. | 446,742 | 19,156 | ||||
Acushnet Holdings Corp. | 454,743 | 18,954 | ||||
Bloomin' Brands Inc. | 1,083,163 | 18,002 | ||||
Century Communities Inc. | 398,125 | 17,904 | ||||
Shutterstock Inc. | 307,519 | 17,624 | ||||
Oxford Industries Inc. | 197,548 | 17,530 | ||||
* | Tenneco Inc. Class A | 1,012,285 | 17,371 | |||
* | ODP Corp. | 573,704 | 17,349 | |||
* | Sally Beauty Holdings Inc. | 1,448,094 | 17,261 | |||
Cheesecake Factory Inc. | 650,072 | 17,175 | ||||
*,1 | Luminar Technologies Inc. Class A | 2,877,809 | 17,065 | |||
* | Dave & Buster's Entertainment Inc. | 516,335 | 16,925 | |||
* | Urban Outfitters Inc. | 873,261 | 16,295 | |||
*,1 | Petco Health & Wellness Co. Inc. Class A | 1,098,444 | 16,191 | |||
*,1 | Fisker Inc. Class A | 1,874,442 | 16,064 | |||
Jack in the Box Inc. | 282,850 | 15,857 | ||||
* | Coursera Inc. | 1,117,960 | 15,853 | |||
Patrick Industries Inc. | 298,577 | 15,478 | ||||
* | M/I Homes Inc. | 385,142 | 15,275 | |||
Dine Brands Global Inc. | 232,418 | 15,126 | ||||
Sturm Ruger & Co. Inc. | 236,228 | 15,036 | ||||
* | Malibu Boats Inc. Class A | 279,401 | 14,727 | |||
Rent-A-Center Inc. | 737,688 | 14,348 | ||||
*,1 | Overstock.com Inc. | 571,028 | 14,281 | |||
La-Z-Boy Inc. | 582,416 | 13,809 | ||||
Qurate Retail Inc. Class A | 4,807,714 | 13,798 | ||||
* | Revolve Group Inc. Class A | 525,386 | 13,613 | |||
Caleres Inc. | 514,996 | 13,513 | ||||
* | iRobot Corp. | 361,974 | 13,303 | |||
* | Brinker International Inc. | 598,532 | 13,186 | |||
Franchise Group Inc. | 363,365 | 12,743 | ||||
* | Playa Hotels & Resorts NV | 1,812,469 | 12,452 | |||
* | Under Armour Inc. Class A | 1,446,600 | 12,050 | |||
* | G-III Apparel Group Ltd. | 588,465 | 11,905 | |||
*,1 | Dutch Bros Inc. Class A | 371,428 | 11,756 | |||
* | American Axle & Manufacturing Holdings Inc. | 1,546,990 | 11,649 | |||
* | Green Brick Partners Inc. | 587,303 | 11,494 | |||
* | Perdoceo Education Corp. | 961,212 | 11,323 | |||
Standard Motor Products Inc. | 251,659 | 11,322 | ||||
* | Abercrombie & Fitch Co. Class A | 668,270 | 11,307 | |||
Buckle Inc. | 391,402 | 10,838 | ||||
Designer Brands Inc. Class A | 829,505 | 10,833 | ||||
* | Golden Entertainment Inc. | 271,818 | 10,750 | |||
* | 2U Inc. | 1,025,213 | 10,734 | |||
Dillard's Inc. Class A | 48,458 | 10,688 | ||||
1 | Camping World Holdings Inc. Class A | 493,227 | 10,649 |
Shares | Market Value• ($000) | |||||
* | MarineMax Inc. | 291,612 | 10,533 | |||
* | Monarch Casino & Resort Inc. | 177,477 | 10,413 | |||
* | XPEL Inc. | 223,213 | 10,252 | |||
Sonic Automotive Inc. Class A | 268,809 | 9,846 | ||||
* | GoPro Inc. Class A | 1,726,026 | 9,545 | |||
* | Sleep Number Corp. | 304,204 | 9,415 | |||
* | Genesco Inc. | 180,621 | 9,015 | |||
* | America's Car-Mart Inc. | 83,750 | 8,425 | |||
Big Lots Inc. | 394,701 | 8,277 | ||||
Smith & Wesson Brands Inc. | 626,426 | 8,225 | ||||
* | Chico's FAS Inc. | 1,643,919 | 8,170 | |||
* | Accel Entertainment Inc. Class A | 766,882 | 8,144 | |||
*,1 | Solid Power Inc. | 1,488,331 | 8,007 | |||
Winmark Corp. | 40,280 | 7,878 | ||||
* | Bally's Corp. | 393,206 | 7,778 | |||
* | Modine Manufacturing Co. | 737,935 | 7,770 | |||
* | Funko Inc. Class A | 343,585 | 7,669 | |||
1 | Guess? Inc. | 442,536 | 7,545 | |||
* | Denny's Corp. | 862,366 | 7,485 | |||
Hibbett Inc. | 169,254 | 7,398 | ||||
*,1 | ContextLogic Inc. Class A | 4,523,462 | 7,238 | |||
Arko Corp. | 884,625 | 7,219 | ||||
* | Children's Place Inc. | 182,342 | 7,097 | |||
Ruth's Hospitality Group Inc. | 429,407 | 6,982 | ||||
* | BJ's Restaurants Inc. | 320,583 | 6,950 | |||
Movado Group Inc. | 224,390 | 6,940 | ||||
Clarus Corp. | 359,105 | 6,819 | ||||
Carriage Services Inc. Class A | 170,324 | 6,753 | ||||
* | PowerSchool Holdings Inc. Class A | 555,757 | 6,697 | |||
* | Life Time Group Holdings Inc. | 510,512 | 6,575 | |||
* | Stoneridge Inc. | 378,045 | 6,483 | |||
Aaron's Co. Inc. | 427,623 | 6,222 | ||||
*,1 | Garrett Motion Inc. | 781,391 | 6,040 | |||
*,1 | Faraday Future Intelligent Electric Inc. | 2,310,713 | 6,008 | |||
Ethan Allen Interiors Inc. | 294,625 | 5,954 | ||||
Johnson Outdoors Inc. Class A | 96,650 | 5,911 | ||||
*,1 | Vuzix Corp. | 825,641 | 5,862 | |||
* | Mister Car Wash Inc. | 529,167 | 5,757 | |||
1 | PetMed Express Inc. | 287,369 | 5,719 | |||
* | OneSpaWorld Holdings Ltd. | 793,312 | 5,688 | |||
*,1 | Bowlero Corp. | 533,638 | 5,651 | |||
* | TravelCenters of America Inc. | 163,680 | 5,642 | |||
*,1 | EVgo Inc. | 938,216 | 5,639 | |||
* | Sportsman's Warehouse Holdings Inc. | 575,524 | 5,519 | |||
* | Chuy's Holdings Inc. | 276,813 | 5,514 | |||
* | Stitch Fix Inc. Class A | 1,107,115 | 5,469 | |||
1 | Krispy Kreme Inc. | 395,317 | 5,376 | |||
* | MasterCraft Boat Holdings Inc. | 254,349 | 5,354 | |||
*,1 | Bed Bath & Beyond Inc. | 1,069,098 | 5,313 | |||
* | Zumiez Inc. | 204,139 | 5,308 | |||
* | Allbirds Inc. Class A | 1,346,815 | 5,293 | |||
RCI Hospitality Holdings Inc. | 108,512 | 5,248 | ||||
* | Holley Inc. | 495,201 | 5,200 | |||
Shoe Carnival Inc. | 239,663 | 5,179 | ||||
* | OneWater Marine Inc. Class A | 155,515 | 5,140 | |||
* | Poshmark Inc. Class A | 506,020 | 5,116 | |||
*,1 | Xometry Inc. Class A | 147,272 | 4,997 | |||
*,1 | Workhorse Group Inc. | 1,921,698 | 4,996 | |||
* | Lovesac Co. | 180,499 | 4,964 | |||
* | Liquidity Services Inc. | 358,341 | 4,816 | |||
* | Beazer Homes USA Inc. | 394,716 | 4,764 | |||
* | Universal Electronics Inc. | 183,853 | 4,701 | |||
Haverty Furniture Cos. Inc. | 202,025 | 4,683 | ||||
* | WW International Inc. | 732,278 | 4,679 | |||
*,1 | Portillo's Inc. Class A | 285,618 | 4,670 | |||
Bluegreen Vacations Holding Corp. Class A | 178,835 | 4,464 | ||||
*,1 | AMMO Inc. | 1,154,214 | 4,444 | |||
European Wax Center Inc. Class A | 248,641 | 4,381 | ||||
* | CarParts.com Inc. | 627,648 | 4,356 |
Shares | Market Value• ($000) | |||||
* | American Public Education Inc. | 258,110 | 4,171 | |||
* | Tupperware Brands Corp. | 639,167 | 4,052 | |||
*,1 | Rover Group Inc. Class A | 1,045,269 | 3,930 | |||
* | LL Flooring Holdings Inc. | 405,817 | 3,803 | |||
* | Motorcar Parts of America Inc. | 274,315 | 3,599 | |||
*,1 | Vacasa Inc. Class A | 1,242,784 | 3,579 | |||
* | Quotient Technology Inc. | 1,203,275 | 3,574 | |||
*,1 | Canoo Inc. | 1,930,731 | 3,572 | |||
* | Fossil Group Inc. | 652,699 | 3,374 | |||
*,1 | Mullen Automotive Inc. | 3,305,925 | 3,372 | |||
Build-A-Bear Workshop Inc. | 205,300 | 3,371 | ||||
* | Vizio Holding Corp. Class A | 493,729 | 3,367 | |||
* | Universal Technical Institute Inc. | 470,925 | 3,358 | |||
* | Rush Street Interactive Inc. | 718,094 | 3,354 | |||
* | 1-800-Flowers.com Inc. Class A | 350,145 | 3,330 | |||
*,1 | Purple Innovation Inc. Class A | 1,082,104 | 3,311 | |||
* | Lindblad Expeditions Holdings Inc. | 405,270 | 3,283 | |||
*,1 | Vinco Ventures Inc. | 2,325,336 | 3,209 | |||
1 | Big 5 Sporting Goods Corp. | 282,616 | 3,168 | |||
Rocky Brands Inc. | 91,776 | 3,137 | ||||
*,1 | Groupon Inc. | 272,343 | 3,077 | |||
* | Latham Group Inc. | 438,630 | 3,040 | |||
*,1 | Cricut Inc. Class A | 491,773 | 3,019 | |||
Cato Corp. Class A | 259,186 | 3,009 | ||||
* | Inspired Entertainment Inc. | 345,687 | 2,976 | |||
* | Kura Sushi USA Inc. Class A | 57,384 | 2,842 | |||
* | Full House Resorts Inc. | 462,908 | 2,814 | |||
* | Container Store Group Inc. | 450,433 | 2,806 | |||
* | Unifi Inc. | 198,648 | 2,793 | |||
* | Citi Trends Inc. | 117,624 | 2,782 | |||
* | Hovnanian Enterprises Inc. Class A | 64,336 | 2,753 | |||
*,1 | Membership Collective Group Inc. Class A | 422,619 | 2,739 | |||
* | Century Casinos Inc. | 380,189 | 2,737 | |||
* | RealReal Inc. | 1,077,657 | 2,683 | |||
* | El Pollo Loco Holdings Inc. | 269,009 | 2,647 | |||
*,1 | Dream Finders Homes Inc. Class A | 245,412 | 2,611 | |||
*,1 | GrowGeneration Corp. | 725,080 | 2,603 | |||
* | Porch Group Inc. | 1,013,957 | 2,596 | |||
*,1 | Lordstown Motors Corp. | 1,591,419 | 2,514 | |||
* | Delta Apparel Inc. | 85,481 | 2,425 | |||
Bassett Furniture Industries Inc. | 133,588 | 2,421 | ||||
* | ONE Group Hospitality Inc. | 328,361 | 2,420 | |||
* | Noodles & Co. Class A | 507,164 | 2,384 | |||
Nathan's Famous Inc. | 40,632 | 2,380 | ||||
Hooker Furnishings Corp. | 152,512 | 2,372 | ||||
Superior Group of Cos. Inc. | 133,063 | 2,362 | ||||
*,1 | Inspirato Inc. | 508,398 | 2,354 | |||
Tilly's Inc. Class A | 329,794 | 2,315 | ||||
1 | Vivid Seats Inc. Class A | 294,894 | 2,203 | |||
* | Lincoln Educational Services Corp. | 346,233 | 2,185 | |||
*,1 | Vroom Inc. | 1,716,710 | 2,146 | |||
*,1 | Volta Inc. | 1,650,331 | 2,145 | |||
* | Target Hospitality Corp. | 372,679 | 2,128 | |||
* | Udemy Inc. | 207,087 | 2,114 | |||
* | PlayAGS Inc. | 404,403 | 2,087 | |||
*,1 | Sonder Holdings Inc. | 1,978,206 | 2,057 | |||
* | VOXX International Corp. Class A | 220,373 | 2,052 | |||
* | Party City Holdco Inc. | 1,517,532 | 2,003 | |||
* | Sweetgreen Inc. Class A | 170,935 | 1,991 | |||
* | Conn's Inc. | 246,065 | 1,973 | |||
*,1 | PLBY Group Inc. | 298,816 | 1,912 | |||
* | Nerdy Inc. | 893,801 | 1,904 | |||
* | American Outdoor Brands Inc. | 199,836 | 1,900 | |||
Weyco Group Inc. | 77,297 | 1,890 | ||||
* | Legacy Housing Corp. | 144,516 | 1,886 | |||
* | Vivint Smart Home Inc. | 542,086 | 1,886 | |||
* | Strattec Security Corp. | 55,213 | 1,830 | |||
* | Fiesta Restaurant Group Inc. | 255,912 | 1,827 | |||
* | First Watch Restaurant Group Inc. | 126,490 | 1,824 |
Shares | Market Value• ($000) | |||||
* | Lakeland Industries Inc. | 118,707 | 1,823 | |||
* | Xponential Fitness Inc. Class A | 145,010 | 1,821 | |||
* | Express Inc. | 918,336 | 1,800 | |||
* | Potbelly Corp. | 316,599 | 1,789 | |||
* | ThredUp Inc. Class A | 706,201 | 1,766 | |||
Lifetime Brands Inc. | 159,603 | 1,762 | ||||
* | Red Robin Gourmet Burgers Inc. | 216,678 | 1,740 | |||
* | Lands' End Inc. | 163,048 | 1,732 | |||
1 | Weber Inc. Class A | 239,722 | 1,728 | |||
* | 1847 Goedeker Inc. | 1,393,929 | 1,701 | |||
* | Snap One Holdings Corp. | 183,026 | 1,678 | |||
Flexsteel Industries Inc. | 92,819 | 1,671 | ||||
* | RumbleON Inc. Class B | 113,553 | 1,670 | |||
Escalade Inc. | 128,370 | 1,668 | ||||
* | Destination XL Group Inc. | 489,246 | 1,659 | |||
* | Duluth Holdings Inc. Class B | 171,333 | 1,635 | |||
* | Drive Shack Inc. | 1,191,290 | 1,632 | |||
* | GAN Ltd. | 547,456 | 1,620 | |||
* | Vera Bradley Inc. | 367,525 | 1,595 | |||
*,1 | Warby Parker Inc. Class A | 141,172 | 1,590 | |||
*,1 | Beachbody Co. Inc. | 1,290,565 | 1,549 | |||
*,1 | XL Fleet Corp. | 1,345,824 | 1,548 | |||
* | Superior Industries International Inc. | 376,611 | 1,488 | |||
* | Lazydays Holdings Inc. | 120,006 | 1,414 | |||
*,1 | BARK Inc. | 1,077,810 | 1,380 | |||
* | Barnes & Noble Education Inc. | 469,981 | 1,377 | |||
* | JAKKS Pacific Inc. | 108,436 | 1,373 | |||
* | BBQ Holdings Inc. | 129,641 | 1,351 | |||
* | Traeger Inc. | 312,006 | 1,326 | |||
Marine Products Corp. | 138,653 | 1,319 | ||||
Tile Shop Holdings Inc. | 421,024 | 1,293 | ||||
*,1 | Arcimoto Inc. | 391,016 | 1,279 | |||
* | StoneMor Inc. | 373,699 | 1,278 | |||
* | Landsea Homes Corp. | 187,775 | 1,251 | |||
1 | JOANN Inc. | 158,866 | 1,231 | |||
*,1 | Boxed Inc. | 656,465 | 1,214 | |||
*,1 | Aterian Inc. | 555,355 | 1,200 | |||
* | Cooper-Standard Holdings Inc. | 229,018 | 1,143 | |||
Hamilton Beach Brands Holding Co. Class A | 91,773 | 1,139 | ||||
* | F45 Training Holdings Inc. | 281,788 | 1,107 | |||
Carrols Restaurant Group Inc. | 519,956 | 1,050 | ||||
* | XpresSpa Group Inc. | 1,491,550 | 1,030 | |||
* | J. Jill Inc. | 54,078 | 989 | |||
* | Arhaus Inc. Class A | 179,801 | 809 | |||
* | Biglari Holdings Inc. Class B | 6,433 | 789 | |||
* | Biglari Holdings Inc. Class A | 1,330 | 782 | |||
* | Nautilus Inc. | 434,117 | 760 | |||
*,1 | Solo Brands Inc. Class A | 174,043 | 707 | |||
* | Brilliant Earth Group Inc. Class A | 148,379 | 705 | |||
*,1 | Rent the Runway Inc. Class A | 225,526 | 692 | |||
Ark Restaurants Corp. | 38,415 | 691 | ||||
*,1 | Koss Corp. | 94,122 | 654 | |||
*,1 | Shift Technologies Inc. Class A | 963,316 | 648 | |||
*,1 | Torrid Holdings Inc. | 149,855 | 647 | |||
Culp Inc. | 147,635 | 635 | ||||
*,1 | Kirkland's Inc. | 179,720 | 633 | |||
* | Lulu's Fashion Lounge Holdings Inc. | 55,179 | 599 | |||
* | Charles & Colvard Ltd. | 443,539 | 550 | |||
* | BurgerFi International Inc. | 167,609 | 541 | |||
*,1 | Remark Holdings Inc. | 1,193,540 | 526 | |||
Crown Crafts Inc. | 81,882 | 513 | ||||
* | Lottery.com Inc. | 457,623 | 513 | |||
* | Live Ventures Inc. | 19,993 | 500 | |||
*,1 | Regis Corp. | 455,543 | 492 | |||
*,1 | Hall of Fame Resort & Entertainment Co. | 817,409 | 485 | |||
* | Horizon Global Corp. | 296,562 | 483 | |||
* | 1stdibs.com Inc. | 79,197 | 451 | |||
* | Sypris Solutions Inc. | 190,093 | 441 | |||
* | Zovio Inc. Class A | 419,786 | 407 |
Shares | Market Value• ($000) | |||||
* | LMP Automotive Holdings Inc. | 85,415 | 406 | |||
* | CarLotz Inc. | 906,418 | 357 | |||
AMCON Distributing Co. | 2,113 | 344 | ||||
* | Aspen Group Inc. | 331,830 | 325 | |||
* | Vince Holding Corp. | 40,117 | 315 | |||
* | AYRO Inc. | 351,561 | 295 | |||
*,1 | Harbor Custom Development Inc. | 201,700 | 280 | |||
Educational Development Corp. | 64,641 | 273 | ||||
* | Rave Restaurant Group Inc. | 246,099 | 268 | |||
Flanigan's Enterprises Inc. | 8,326 | 250 | ||||
*,1 | Kaival Brands Innovations Group Inc. | 154,970 | 245 | |||
* | Dixie Group Inc. | 188,449 | 241 | |||
* | iMedia Brands Inc. | 185,283 | 224 | |||
* | Waitr Holdings Inc. | 1,410,517 | 215 | |||
* | Tuesday Morning Corp. | 585,590 | 211 | |||
* | Forward Industries Inc. | 139,573 | 207 | |||
* | Xcel Brands Inc. | 113,019 | 133 | |||
* | Envela Corp. | 17,179 | 122 | |||
* | Esports Entertainment Group Inc. | 298,412 | 122 | |||
* | Allied Esports Entertainment Inc. | 77,728 | 111 | |||
*,1 | Enjoy Technology Inc. | 483,593 | 105 | |||
* | Good Times Restaurants Inc. | 33,267 | 100 | |||
* | Volcon Inc. | 47,761 | 88 | |||
*,1 | Greenlane Holdings Inc. Class A | 361,747 | 71 | |||
Canterbury Park Holding Corp. | 2,678 | 69 | ||||
* | Nephros Inc. | 44,580 | 68 | |||
* | Amesite Inc. | 145,556 | 67 | |||
* | EBET Inc. | 27,374 | 66 | |||
* | TRxADE HEALTH Inc. | 39,629 | 61 | |||
* | Yunhong CTI Ltd. | 80,660 | 58 | |||
* | Emerson Radio Corp. | 68,379 | 45 | |||
* | iPower Inc. | 42,702 | 45 | |||
*,1 | Nova Lifestyle Inc. | 60,182 | 43 | |||
*,2 | Zagg Inc. CVR | 448,712 | 40 | |||
* | Kidpik Corp. | 19,500 | 26 | |||
* | Unique Fabricating Inc. | 17,733 | 24 | |||
*,1 | Toughbuilt Industries Inc. | 8,301 | 19 | |||
Jerash Holdings US Inc. | 2,870 | 14 | ||||
* | Digital Brands Group Inc. | 59,422 | 12 | |||
* | Amergent Hospitality Group Inc. | 19,975 | 5 | |||
*,2 | Ocuphire Pharma Inc. CVR | 13,673 | 2 | |||
* | Worksport Ltd. | 700 | 1 | |||
8,126,424 | ||||||
Consumer Staples (3.0%) | ||||||
Bunge Ltd. | 2,031,789 | 184,263 | ||||
* | Darling Ingredients Inc. | 2,165,371 | 129,489 | |||
* | BJ's Wholesale Club Holdings Inc. | 1,804,051 | 112,428 | |||
* | Performance Food Group Co. | 2,071,399 | 95,243 | |||
Casey's General Stores Inc. | 498,419 | 92,198 | ||||
* | US Foods Holding Corp. | 3,001,527 | 92,087 | |||
Ingredion Inc. | 877,209 | 77,335 | ||||
Flowers Foods Inc. | 2,668,558 | 70,236 | ||||
* | Post Holdings Inc. | 746,344 | 61,461 | |||
Sanderson Farms Inc. | 276,163 | 59,521 | ||||
* | Grocery Outlet Holding Corp. | 1,177,528 | 50,198 | |||
* | Simply Good Foods Co. | 1,209,437 | 45,680 | |||
Spectrum Brands Holdings Inc. | 547,166 | 44,879 | ||||
* | Hostess Brands Inc. Class A | 1,839,135 | 39,008 | |||
Albertsons Cos. Inc. Class A | 1,440,889 | 38,501 | ||||
* | Boston Beer Co. Inc. Class A | 126,009 | 38,177 | |||
* | Coty Inc. Class A | 4,624,044 | 37,039 | |||
WD-40 Co. | 183,448 | 36,939 | ||||
* | BellRing Brands Inc. | 1,467,541 | 36,527 | |||
* | Sprouts Farmers Market Inc. | 1,441,393 | 36,496 | |||
Coca-Cola Consolidated Inc. | 62,020 | 34,973 | ||||
Lancaster Colony Corp. | 264,236 | 34,028 | ||||
* | Freshpet Inc. | 641,957 | 33,311 | |||
* | Celsius Holdings Inc. | 507,445 | 33,116 | |||
* | TreeHouse Foods Inc. | 741,583 | 31,013 |
Shares | Market Value• ($000) | |||||
* | United Natural Foods Inc. | 771,546 | 30,399 | |||
* | Hain Celestial Group Inc. | 1,217,238 | 28,897 | |||
Nu Skin Enterprises Inc. Class A | 660,089 | 28,582 | ||||
Medifast Inc. | 155,018 | 27,982 | ||||
J & J Snack Foods Corp. | 198,005 | 27,653 | ||||
* | Herbalife Nutrition Ltd. | 1,261,254 | 25,793 | |||
Energizer Holdings Inc. | 877,604 | 24,880 | ||||
Edgewell Personal Care Co. | 719,906 | 24,851 | ||||
Cal-Maine Foods Inc. | 501,577 | 24,783 | ||||
PriceSmart Inc. | 317,367 | 22,733 | ||||
1 | B&G Foods Inc. | 951,748 | 22,633 | |||
* | Pilgrim's Pride Corp. | 655,782 | 20,480 | |||
Universal Corp. | 330,819 | 20,015 | ||||
* | elf Beauty Inc. | 635,095 | 19,485 | |||
*,1 | Beyond Meat Inc. | 813,030 | 19,464 | |||
Reynolds Consumer Products Inc. | 698,657 | 19,052 | ||||
* | Central Garden & Pet Co. Class A | 472,842 | 18,918 | |||
Vector Group Ltd. | 1,752,381 | 18,400 | ||||
Inter Parfums Inc. | 235,369 | 17,196 | ||||
* | Chefs' Warehouse Inc. | 435,165 | 16,924 | |||
MGP Ingredients Inc. | 168,833 | 16,898 | ||||
* | Beauty Health Co. | 1,280,674 | 16,469 | |||
Ingles Markets Inc. Class A | 187,630 | 16,277 | ||||
Weis Markets Inc. | 217,076 | 16,181 | ||||
National Beverage Corp. | 314,552 | 15,394 | ||||
SpartanNash Co. | 474,707 | 14,322 | ||||
* | Olaplex Holdings Inc. | 965,340 | 13,602 | |||
Fresh Del Monte Produce Inc. | 457,252 | 13,503 | ||||
Andersons Inc. | 406,621 | 13,414 | ||||
Seaboard Corp. | 3,382 | 13,131 | ||||
Utz Brands Inc. | 838,298 | 11,585 | ||||
* | USANA Health Sciences Inc. | 154,529 | 11,182 | |||
Calavo Growers Inc. | 241,345 | 10,069 | ||||
*,1 | Veru Inc. | 806,712 | 9,116 | |||
* | Duckhorn Portfolio Inc. | 428,089 | 9,016 | |||
John B Sanfilippo & Son Inc. | 115,896 | 8,401 | ||||
Tootsie Roll Industries Inc. | 234,243 | 8,280 | ||||
* | Central Garden & Pet Co. | 188,831 | 8,010 | |||
* | Mission Produce Inc. | 488,857 | 6,966 | |||
Turning Point Brands Inc. | 203,417 | 5,519 | ||||
*,1 | Rite Aid Corp. | 764,368 | 5,152 | |||
* | Sovos Brands Inc. | 324,477 | 5,149 | |||
*,1 | Benson Hill Inc. | 1,857,206 | 5,089 | |||
*,1 | 22nd Century Group Inc. | 2,271,867 | 4,839 | |||
* | Seneca Foods Corp. Class A | 84,564 | 4,697 | |||
*,1 | Tattooed Chef Inc. | 612,331 | 3,858 | |||
*,1 | BRC Inc. Class A | 468,144 | 3,820 | |||
* | Landec Corp. | 369,220 | 3,681 | |||
* | Whole Earth Brands Inc. | 513,294 | 3,182 | |||
* | Vintage Wine Estates Inc. | 402,058 | 3,160 | |||
*,1 | AppHarvest Inc. | 807,132 | 2,817 | |||
* | HF Foods Group Inc. | 531,573 | 2,775 | |||
* | Vital Farms Inc. | 316,473 | 2,769 | |||
Limoneira Co. | 192,872 | 2,718 | ||||
Village Super Market Inc. Class A | 115,601 | 2,637 | ||||
Natural Grocers by Vitamin Cottage Inc. | 147,698 | 2,356 | ||||
Oil-Dri Corp. of America | 64,835 | 1,987 | ||||
* | Nature's Sunshine Products Inc. | 174,217 | 1,859 | |||
Alico Inc. | 50,557 | 1,801 | ||||
* | Vita Coco Co. Inc. | 155,319 | 1,521 | |||
*,1 | Blue Apron Holdings Inc. Class A | 363,845 | 1,324 | |||
*,1 | Local Bounti Corp. | 353,047 | 1,123 | |||
* | Farmer Bros Co. | 228,266 | 1,071 | |||
* | Honest Co. Inc. | 355,606 | 1,038 | |||
Lifevantage Corp. | 195,139 | 849 | ||||
*,1 | Splash Beverage Group Inc. | 275,454 | 824 | |||
* | Natural Alternatives International Inc. | 74,963 | 783 | |||
United-Guardian Inc. | 52,153 | 782 | ||||
* | Rocky Mountain Chocolate Factory Inc. | 95,693 | 659 |
Shares | Market Value• ($000) | |||||
Natural Health Trends Corp. | 109,142 | 586 | ||||
* | Better Choice Co. Inc. | 261,363 | 575 | |||
* | LifeMD Inc. | 269,119 | 549 | |||
* | Alkaline Water Co. Inc. | 1,233,065 | 485 | |||
* | RiceBran Technologies | 697,387 | 467 | |||
* | Willamette Valley Vineyards Inc. | 72,806 | 456 | |||
* | Lifeway Foods Inc. | 87,562 | 435 | |||
*,1 | NewAge Inc. | 1,874,944 | 420 | |||
* | Zevia PBC Class A | 148,393 | 417 | |||
Ocean Bio-Chem Inc. | 31,040 | 400 | ||||
* | Seneca Foods Corp. Class B | 6,394 | 363 | |||
*,1 | Arcadia Biosciences Inc. | 300,033 | 300 | |||
* | Real Good Food Co. Inc. Class A | 25,029 | 176 | |||
* | Reed's Inc. | 1,113,652 | 174 | |||
* | Cyanotech Corp. | 51,994 | 152 | |||
Coffee Holding Co. Inc. | 55,673 | 136 | ||||
* | S&W Seed Co. | 124,628 | 126 | |||
Mannatech Inc. | 7,348 | 122 | ||||
* | MedAvail Holdings Inc. | 61,608 | 94 | |||
* | Eastside Distilling Inc. | 132,920 | 92 | |||
*,1 | Laird Superfood Inc. | 46,278 | 88 | |||
* | Blue Star Foods Corp. | 60,570 | 74 | |||
* | Stryve Foods Inc. Class A | 58,772 | 52 | |||
* | Nuzee Inc. | 49,869 | 50 | |||
*,1 | Jupiter Wellness Inc. | 59,271 | 43 | |||
* | Guardion Health Sciences Inc. | 278,115 | 40 | |||
* | Zivo Bioscience Inc. | 9,996 | 39 | |||
2,321,832 | ||||||
Energy (4.5%) | ||||||
Cheniere Energy Inc. | 3,174,078 | 422,248 | ||||
Targa Resources Corp. | 3,057,004 | 182,411 | ||||
Ovintiv Inc. | 3,477,634 | 153,677 | ||||
EQT Corp. | 3,965,133 | 136,401 | ||||
Texas Pacific Land Corp. | 82,988 | 123,488 | ||||
Chesapeake Energy Corp. | 1,514,116 | 122,795 | ||||
* | Antero Resources Corp. | 3,793,997 | 116,286 | |||
* | Southwestern Energy Co. | 14,969,406 | 93,559 | |||
HF Sinclair Corp. | 2,006,511 | 90,614 | ||||
NOV Inc. | 5,268,999 | 89,099 | ||||
* | Range Resources Corp. | 3,468,286 | 85,840 | |||
PDC Energy Inc. | 1,276,169 | 78,625 | ||||
Matador Resources Co. | 1,482,318 | 69,061 | ||||
DT Midstream Inc. | 1,291,785 | 63,323 | ||||
Helmerich & Payne Inc. | 1,397,799 | 60,189 | ||||
Murphy Oil Corp. | 1,948,041 | 58,811 | ||||
SM Energy Co. | 1,619,179 | 55,360 | ||||
ChampionX Corp. | 2,714,560 | 53,884 | ||||
Continental Resources Inc. | 779,266 | 50,925 | ||||
Civitas Resources Inc. | 964,873 | 50,453 | ||||
Patterson-UTI Energy Inc. | 2,885,689 | 45,478 | ||||
* | CNX Resources Corp. | 2,608,941 | 42,943 | |||
Magnolia Oil & Gas Corp. Class A | 2,012,793 | 42,249 | ||||
* | Denbury Inc. | 665,047 | 39,896 | |||
California Resources Corp. | 1,028,010 | 39,578 | ||||
Antero Midstream Corp. | 4,350,524 | 39,372 | ||||
* | TechnipFMC plc | 5,638,022 | 37,944 | |||
* | Valaris Ltd. | 882,699 | 37,285 | |||
* | Kosmos Energy Ltd. | 6,021,217 | 37,271 | |||
* | PBF Energy Inc. Class A | 1,265,080 | 36,713 | |||
Whiting Petroleum Corp. | 519,247 | 35,324 | ||||
Equitrans Midstream Corp. | 5,393,273 | 34,301 | ||||
Cactus Inc. Class A | 807,743 | 32,528 | ||||
* | Peabody Energy Corp. | 1,421,812 | 30,327 | |||
Chord Energy Corp. | 249,086 | 30,301 | ||||
Arch Resources Inc. | 204,073 | 29,201 | ||||
* | Transocean Ltd. | 8,507,219 | 28,329 | |||
* | Callon Petroleum Co. | 629,920 | 24,693 | |||
* | Delek US Holdings Inc. | 943,671 | 24,384 | |||
New Fortress Energy Inc. Class A | 558,285 | 22,091 |
Shares | Market Value• ($000) | |||||
* | Noble Corp. | 871,405 | 22,090 | |||
Northern Oil & Gas Inc. | 871,256 | 22,008 | ||||
Enviva Inc. | 379,852 | 21,735 | ||||
* | CONSOL Energy Inc. | 422,510 | 20,864 | |||
* | NexTier Oilfield Solutions Inc. | 2,136,876 | 20,322 | |||
* | Green Plains Inc. | 715,804 | 19,448 | |||
* | Tellurian Inc. | 6,324,453 | 18,847 | |||
* | Weatherford International plc | 883,648 | 18,707 | |||
* | Liberty Energy Inc. Class A | 1,457,891 | 18,603 | |||
Brigham Minerals Inc. Class A | 698,778 | 17,211 | ||||
World Fuel Services Corp. | 819,336 | 16,764 | ||||
* | Nabors Industries Ltd. | 123,732 | 16,568 | |||
* | Centennial Resource Development Inc. Class A | 2,463,298 | 14,731 | |||
* | Comstock Resources Inc. | 1,208,288 | 14,596 | |||
Archrock Inc. | 1,716,567 | 14,196 | ||||
* | Oceaneering International Inc. | 1,307,013 | 13,959 | |||
* | Laredo Petroleum Inc. | 191,769 | 13,221 | |||
CVR Energy Inc. | 388,412 | 13,012 | ||||
Core Laboratories NV | 625,885 | 12,399 | ||||
* | Gulfport Energy Corp. | 154,212 | 12,261 | |||
* | Tidewater Inc. | 570,497 | 12,032 | |||
*,1 | Uranium Energy Corp. | 3,866,500 | 11,909 | |||
International Seaways Inc. | 555,996 | 11,787 | ||||
* | Dril-Quip Inc. | 456,679 | 11,782 | |||
* | Archaea Energy Inc. Class A | 745,314 | 11,575 | |||
* | US Silica Holdings Inc. | 998,589 | 11,404 | |||
* | ProPetro Holding Corp. | 1,094,471 | 10,945 | |||
* | Clean Energy Fuels Corp. | 2,262,454 | 10,136 | |||
* | Par Pacific Holdings Inc. | 618,429 | 9,641 | |||
* | Ranger Oil Corp. | 286,032 | 9,402 | |||
*,1 | Earthstone Energy Inc. Class A | 687,635 | 9,386 | |||
Kinetik Holdings Inc. Class A | 258,230 | 8,816 | ||||
* | Talos Energy Inc. | 542,538 | 8,393 | |||
* | TETRA Technologies Inc. | 1,738,991 | 7,060 | |||
* | Bristow Group Inc. Class A | 301,476 | 7,055 | |||
* | Diamond Offshore Drilling Inc. | 1,183,622 | 6,972 | |||
Berry Corp. | 886,946 | 6,759 | ||||
* | SandRidge Energy Inc. | 423,456 | 6,636 | |||
*,1 | Vertex Energy Inc. | 629,406 | 6,621 | |||
* | RPC Inc. | 957,745 | 6,618 | |||
*,1 | Gevo Inc. | 2,699,322 | 6,343 | |||
* | Select Energy Services Inc. Class A | 904,728 | 6,170 | |||
* | Helix Energy Solutions Group Inc. | 1,946,985 | 6,036 | |||
* | REX American Resources Corp. | 70,629 | 5,989 | |||
* | W&T Offshore Inc. | 1,252,512 | 5,411 | |||
Dorian LPG Ltd. | 352,418 | 5,357 | ||||
1 | VAALCO Energy Inc. | 753,349 | 5,228 | |||
* | Oil States International Inc. | 863,135 | 4,678 | |||
*,1 | Excelerate Energy Inc. Class A | 233,056 | 4,642 | |||
* | DMC Global Inc. | 256,086 | 4,617 | |||
1 | Crescent Energy Co. Class A | 367,432 | 4,586 | |||
Solaris Oilfield Infrastructure Inc. Class A | 402,775 | 4,382 | ||||
* | Expro Group Holdings NV | 370,843 | 4,272 | |||
* | Newpark Resources Inc. | 1,292,614 | 3,994 | |||
*,1 | SilverBow Resources Inc. | 130,971 | 3,714 | |||
*,1 | ProFrac Holding Corp. Class A | 202,748 | 3,712 | |||
* | Alto Ingredients Inc. | 954,480 | 3,541 | |||
* | Centrus Energy Corp. Class A | 141,570 | 3,504 | |||
* | Amplify Energy Corp. | 525,672 | 3,438 | |||
Sitio Royalties Corp. | 134,185 | 3,110 | ||||
*,1 | Ring Energy Inc. | 1,102,202 | 2,932 | |||
Evolution Petroleum Corp. | 420,942 | 2,298 | ||||
NACCO Industries Inc. Class A | 56,684 | 2,148 | ||||
*,1 | Camber Energy Inc. | 5,383,085 | 2,139 | |||
* | Overseas Shipholding Group Inc. Class A | 1,032,700 | 2,117 | |||
*,1 | Aemetis Inc. | 397,046 | 1,949 | |||
* | Natural Gas Services Group Inc. | 173,685 | 1,911 | |||
* | Hallador Energy Co. | 326,167 | 1,765 | |||
* | Ranger Energy Services Inc. Class A | 169,545 | 1,719 |
Shares | Market Value• ($000) | |||||
* | SEACOR Marine Holdings Inc. | 298,506 | 1,719 | |||
Epsilon Energy Ltd. | 283,298 | 1,669 | ||||
* | NextDecade Corp. | 362,516 | 1,610 | |||
*,1 | Empire Petroleum Corp. | 129,900 | 1,542 | |||
* | Exterran Corp. | 352,303 | 1,515 | |||
Riley Exploration Permian Inc. | 52,515 | 1,270 | ||||
PHX Minerals Inc. | 391,669 | 1,191 | ||||
*,1 | Nabors Industries Ltd. Warrants Exp. 6/11/26 | 37,085 | 1,186 | |||
* | Forum Energy Technologies Inc. | 59,624 | 1,170 | |||
*,1 | American Resources Corp. | 678,650 | 984 | |||
Adams Resources & Energy Inc. | 26,384 | 849 | ||||
* | Geospace Technologies Corp. | 178,733 | 847 | |||
* | Gulf Island Fabrication Inc. | 224,317 | 751 | |||
*,1 | Ecoark Holdings Inc. | 286,702 | 751 | |||
* | Smart Sand Inc. | 335,545 | 671 | |||
* | Profire Energy Inc. | 440,514 | 634 | |||
*,1 | Houston American Energy Corp. | 137,617 | 632 | |||
*,1 | Lightbridge Corp. | 106,984 | 499 | |||
* | Nine Energy Service Inc. | 182,633 | 484 | |||
* | Battalion Oil Corp. | 53,331 | 455 | |||
US Energy Corp. Wyoming | 113,357 | 392 | ||||
*,1 | KLX Energy Services Holdings Inc. | 82,907 | 359 | |||
* | Mammoth Energy Services Inc. | 157,081 | 346 | |||
* | PrimeEnergy Resources Corp. | 4,159 | 326 | |||
* | NCS Multistage Holdings Inc. | 10,147 | 310 | |||
*,1 | US Well Services Inc. | 313,256 | 294 | |||
* | Mexco Energy Corp. | 16,503 | 284 | |||
*,1 | ENGlobal Corp. | 296,135 | 282 | |||
* | Independence Contract Drilling Inc. | 86,020 | 269 | |||
*,1 | Enservco Corp. | 132,516 | 260 | |||
* | Superior Drilling Products Inc. | 200,379 | 198 | |||
* | PEDEVCO Corp. | 154,098 | 177 | |||
* | Barnwell Industries Inc. | 68,182 | 160 | |||
* | MIND Technology Inc. | 165,579 | 146 | |||
*,1 | New Concept Energy Inc. | 56,567 | 87 | |||
*,1,2 | Miragen Therapeutics Inc. CVR | 330,960 | 7 | |||
*,2 | Pineapple Energy Inc. CVR | 30,377 | 4 | |||
*,1,2 | Harvest Natural Resources Inc. | 133,886 | — | |||
3,509,760 | ||||||
Financials (15.9%) | ||||||
Blackstone Inc. | 9,422,337 | 859,600 | ||||
KKR & Co. Inc. | 7,946,303 | 367,834 | ||||
Apollo Global Management Inc. | 4,995,439 | 242,179 | ||||
* | Markel Corp. | 179,281 | 231,855 | |||
* | Arch Capital Group Ltd. | 5,001,495 | 227,518 | |||
LPL Financial Holdings Inc. | 1,073,776 | 198,090 | ||||
First Horizon Corp. | 7,180,810 | 156,973 | ||||
* | Alleghany Corp. | 180,486 | 150,363 | |||
Ally Financial Inc. | 4,301,337 | 144,138 | ||||
Fidelity National Financial Inc. | 3,733,134 | 137,977 | ||||
Ares Management Corp. Class A | 2,301,737 | 130,877 | ||||
East West Bancorp Inc. | 1,907,597 | 123,612 | ||||
American Financial Group Inc. | 890,095 | 123,554 | ||||
Annaly Capital Management Inc. | 20,886,912 | 123,442 | ||||
Equitable Holdings Inc. | 4,720,432 | 123,062 | ||||
First Citizens BancShares Inc. Class A | 179,239 | 117,183 | ||||
Reinsurance Group of America Inc. | 893,257 | 104,770 | ||||
Western Alliance Bancorp | 1,455,111 | 102,731 | ||||
Webster Financial Corp. | 2,383,433 | 100,462 | ||||
Tradeweb Markets Inc. Class A | 1,438,054 | 98,147 | ||||
Commerce Bancshares Inc. | 1,450,499 | 95,225 | ||||
RenaissanceRe Holdings Ltd. | 591,758 | 92,533 | ||||
Unum Group | 2,698,574 | 91,805 | ||||
Cullen/Frost Bankers Inc. | 765,499 | 89,142 | ||||
Starwood Property Trust Inc. | 4,123,921 | 86,149 | ||||
Old Republic International Corp. | 3,829,842 | 85,635 | ||||
Prosperity Bancshares Inc. | 1,239,334 | 84,609 | ||||
Voya Financial Inc. | 1,355,796 | 80,711 | ||||
Stifel Financial Corp. | 1,431,070 | 80,169 |
Shares | Market Value• ($000) | |||||
AGNC Investment Corp. | 7,036,569 | 77,895 | ||||
SouthState Corp. | 1,001,084 | 77,234 | ||||
SEI Investments Co. | 1,404,952 | 75,896 | ||||
First American Financial Corp. | 1,431,690 | 75,765 | ||||
Morningstar Inc. | 312,495 | 75,571 | ||||
Pinnacle Financial Partners Inc. | 1,023,430 | 74,004 | ||||
Popular Inc. | 934,456 | 71,888 | ||||
Jefferies Financial Group Inc. | 2,547,596 | 70,365 | ||||
Synovus Financial Corp. | 1,946,579 | 70,174 | ||||
Hanover Insurance Group Inc. | 478,821 | 70,028 | ||||
Selective Insurance Group Inc. | 801,581 | 69,689 | ||||
Glacier Bancorp Inc. | 1,450,467 | 68,781 | ||||
First Financial Bankshares Inc. | 1,710,280 | 67,163 | ||||
Kinsale Capital Group Inc. | 286,530 | 65,799 | ||||
Interactive Brokers Group Inc. Class A | 1,174,860 | 64,629 | ||||
Wintrust Financial Corp. | 805,724 | 64,579 | ||||
Erie Indemnity Co. Class A | 335,732 | 64,524 | ||||
Blackstone Mortgage Trust Inc. Class A | 2,294,829 | 63,498 | ||||
United Bankshares Inc. | 1,810,562 | 63,496 | ||||
RLI Corp. | 533,356 | 62,184 | ||||
Primerica Inc. | 515,211 | 61,666 | ||||
Affiliated Managers Group Inc. | 515,262 | 60,080 | ||||
Carlyle Group Inc. | 1,880,725 | 59,544 | ||||
Axis Capital Holdings Ltd. | 1,038,199 | 59,271 | ||||
New Residential Investment Corp. | 6,285,984 | 58,585 | ||||
Valley National Bancorp | 5,621,552 | 58,520 | ||||
Old National Bancorp | 3,926,509 | 58,073 | ||||
Cadence Bank | 2,453,680 | 57,612 | ||||
SLM Corp. | 3,612,718 | 57,587 | ||||
New York Community Bancorp Inc. | 6,302,701 | 57,544 | ||||
Bank OZK | 1,493,763 | 56,061 | ||||
Essent Group Ltd. | 1,438,009 | 55,939 | ||||
Home BancShares Inc. | 2,579,208 | 53,570 | ||||
OneMain Holdings Inc. | 1,407,721 | 52,621 | ||||
MGIC Investment Corp. | 4,158,796 | 52,401 | ||||
Janus Henderson Group plc | 2,215,230 | 52,080 | ||||
*,1 | SoFi Technologies Inc. | 9,879,073 | 52,063 | |||
Houlihan Lokey Inc. Class A | 658,737 | 51,994 | ||||
ServisFirst Bancshares Inc. | 650,677 | 51,351 | ||||
Hancock Whitney Corp. | 1,146,293 | 50,815 | ||||
Evercore Inc. Class A | 539,363 | 50,490 | ||||
Independent Bank Corp. (Massachusetts) | 629,545 | 50,005 | ||||
White Mountains Insurance Group Ltd. | 39,924 | 49,750 | ||||
UMB Financial Corp. | 573,055 | 49,340 | ||||
1 | Lazard Ltd. Class A | 1,514,757 | 49,093 | |||
FNB Corp. | 4,481,243 | 48,666 | ||||
Umpqua Holdings Corp. | 2,899,346 | 48,622 | ||||
Assured Guaranty Ltd. | 860,139 | 47,987 | ||||
*,1 | Credit Acceptance Corp. | 100,909 | 47,771 | |||
Blue Owl Capital Inc. Class A | 4,695,827 | 47,099 | ||||
Radian Group Inc. | 2,300,074 | 45,196 | ||||
Community Bank System Inc. | 712,080 | 45,060 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 1,173,969 | 44,446 | ||||
CVB Financial Corp. | 1,769,780 | 43,908 | ||||
United Community Banks Inc. | 1,387,000 | 41,874 | ||||
Eastern Bankshares Inc. | 2,244,809 | 41,439 | ||||
PacWest Bancorp | 1,549,947 | 41,322 | ||||
First Interstate BancSystem Inc. Class A | 1,080,215 | 41,167 | ||||
* | Brighthouse Financial Inc. | 1,001,796 | 41,094 | |||
Walker & Dunlop Inc. | 418,046 | 40,275 | ||||
Bank of Hawaii Corp. | 534,935 | 39,799 | ||||
Cathay General Bancorp | 1,008,301 | 39,475 | ||||
Federated Hermes Inc. Class B | 1,235,843 | 39,287 | ||||
Kemper Corp. | 806,342 | 38,624 | ||||
BankUnited Inc. | 1,084,232 | 38,566 | ||||
First Hawaiian Inc. | 1,689,281 | 38,364 | ||||
American Equity Investment Life Holding Co. | 1,042,759 | 38,134 | ||||
Pacific Premier Bancorp Inc. | 1,256,619 | 36,744 |
Shares | Market Value• ($000) | |||||
* | Mr Cooper Group Inc. | 993,830 | 36,513 | |||
Associated Banc-Corp | 1,974,915 | 36,062 | ||||
FirstCash Holdings Inc. | 516,001 | 35,867 | ||||
Simmons First National Corp. Class A | 1,680,558 | 35,729 | ||||
Ameris Bancorp | 881,025 | 35,400 | ||||
* | Texas Capital Bancshares Inc. | 670,030 | 35,270 | |||
WSFS Financial Corp. | 878,532 | 35,220 | ||||
* | Enstar Group Ltd. | 163,573 | 35,001 | |||
Atlantic Union Bankshares Corp. | 1,011,733 | 34,318 | ||||
Moelis & Co. Class A | 867,770 | 34,147 | ||||
First Bancorp (XNYS) | 2,616,078 | 33,774 | ||||
Independent Bank Group Inc. | 488,923 | 33,203 | ||||
Artisan Partners Asset Management Inc. Class A | 894,058 | 31,802 | ||||
Hamilton Lane Inc. Class A | 464,349 | 31,195 | ||||
* | Ryan Specialty Holdings Inc. Class A | 791,758 | 31,029 | |||
Jackson Financial Inc. Class A | 1,153,618 | 30,859 | ||||
Fulton Financial Corp. | 2,134,418 | 30,842 | ||||
BOK Financial Corp. | 407,536 | 30,802 | ||||
Columbia Banking System Inc. | 1,033,833 | 29,619 | ||||
Seacoast Banking Corp. of Florida | 869,527 | 28,729 | ||||
CNO Financial Group Inc. | 1,573,468 | 28,464 | ||||
International Bancshares Corp. | 703,532 | 28,198 | ||||
Arbor Realty Trust Inc. | 2,102,901 | 27,569 | ||||
* | Trupanion Inc. | 456,251 | 27,494 | |||
Chimera Investment Corp. | 3,110,471 | 27,434 | ||||
Navient Corp. | 1,932,553 | 27,036 | ||||
First Merchants Corp. | 757,681 | 26,989 | ||||
Washington Federal Inc. | 873,079 | 26,210 | ||||
Banner Corp. | 459,227 | 25,813 | ||||
* | Axos Financial Inc. | 717,905 | 25,737 | |||
Flagstar Bancorp Inc. | 711,467 | 25,222 | ||||
WesBanco Inc. | 790,737 | 25,074 | ||||
* | Focus Financial Partners Inc. Class A | 730,147 | 24,869 | |||
First Financial Bancorp | 1,268,545 | 24,610 | ||||
Virtu Financial Inc. Class A | 1,051,160 | 24,608 | ||||
Towne Bank | 888,641 | 24,127 | ||||
BancFirst Corp. | 249,409 | 23,871 | ||||
* | Genworth Financial Inc. Class A | 6,761,925 | 23,870 | |||
Park National Corp. | 195,676 | 23,726 | ||||
Nelnet Inc. Class A | 274,654 | 23,414 | ||||
Trustmark Corp. | 800,767 | 23,374 | ||||
Sandy Spring Bancorp Inc. | 586,170 | 22,902 | ||||
* | Silvergate Capital Corp. Class A | 427,258 | 22,871 | |||
Stock Yards Bancorp Inc. | 379,585 | 22,707 | ||||
Heartland Financial USA Inc. | 546,242 | 22,691 | ||||
PJT Partners Inc. Class A | 322,366 | 22,656 | ||||
Provident Financial Services Inc. | 1,013,392 | 22,558 | ||||
Two Harbors Investment Corp. | 4,518,748 | 22,503 | ||||
Veritex Holdings Inc. | 762,289 | 22,305 | ||||
Lakeland Financial Corp. | 335,093 | 22,257 | ||||
Renasant Corp. | 753,606 | 21,711 | ||||
Horace Mann Educators Corp. | 564,279 | 21,657 | ||||
Hope Bancorp Inc. | 1,559,605 | 21,585 | ||||
*,1 | Upstart Holdings Inc. | 680,826 | 21,528 | |||
Cohen & Steers Inc. | 337,352 | 21,452 | ||||
* | Cannae Holdings Inc. | 1,107,692 | 21,423 | |||
NBT Bancorp Inc. | 566,941 | 21,311 | ||||
Northwest Bancshares Inc. | 1,654,160 | 21,173 | ||||
Piper Sandler Cos. | 186,472 | 21,138 | ||||
* | Palomar Holdings Inc. | 325,700 | 20,975 | |||
TriCo Bancshares | 458,094 | 20,907 | ||||
*,1 | Coinbase Global Inc. Class A | 443,115 | 20,835 | |||
Westamerica Bancorp | 363,882 | 20,254 | ||||
Enterprise Financial Services Corp. | 479,676 | 19,907 | ||||
* | Triumph Bancorp Inc. | 316,803 | 19,819 | |||
Eagle Bancorp Inc. | 416,027 | 19,724 | ||||
* | PRA Group Inc. | 533,033 | 19,381 | |||
* | NMI Holdings Inc. Class A | 1,154,486 | 19,222 | |||
* | Encore Capital Group Inc. | 328,351 | 18,969 |
Shares | Market Value• ($000) | |||||
FB Financial Corp. | 478,468 | 18,766 | ||||
* | Green Dot Corp. Class A | 733,376 | 18,415 | |||
Safety Insurance Group Inc. | 188,892 | 18,341 | ||||
Apollo Commercial Real Estate Finance Inc. | 1,748,903 | 18,259 | ||||
Stewart Information Services Corp. | 360,258 | 17,923 | ||||
PennyMac Financial Services Inc. | 405,360 | 17,718 | ||||
* | StoneX Group Inc. | 226,169 | 17,657 | |||
Hilltop Holdings Inc. | 657,968 | 17,541 | ||||
* | BRP Group Inc. Class A | 720,455 | 17,399 | |||
Argo Group International Holdings Ltd. | 467,596 | 17,236 | ||||
First Commonwealth Financial Corp. | 1,272,288 | 17,074 | ||||
ProAssurance Corp. | 722,505 | 17,073 | ||||
StepStone Group Inc. Class A | 648,101 | 16,870 | ||||
PennyMac Mortgage Investment Trust | 1,215,655 | 16,813 | ||||
First Bancorp (XNGS) | 473,101 | 16,511 | ||||
Virtus Investment Partners Inc. | 95,377 | 16,311 | ||||
CNA Financial Corp. | 361,302 | 16,222 | ||||
Capitol Federal Financial Inc. | 1,751,568 | 16,079 | ||||
Employers Holdings Inc. | 381,390 | 15,976 | ||||
National Bank Holdings Corp. Class A | 416,505 | 15,940 | ||||
1 | Franklin BSP Realty Trust Inc. | 1,179,856 | 15,904 | |||
Mercury General Corp. | 358,683 | 15,890 | ||||
City Holding Co. | 198,222 | 15,834 | ||||
Berkshire Hills Bancorp Inc. | 637,844 | 15,799 | ||||
OFG Bancorp | 620,983 | 15,773 | ||||
* | LendingClub Corp. | 1,344,419 | 15,716 | |||
Ladder Capital Corp. | 1,489,087 | 15,695 | ||||
Southside Bancshares Inc. | 416,625 | 15,590 | ||||
First Busey Corp. | 678,296 | 15,499 | ||||
OceanFirst Financial Corp. | 809,591 | 15,487 | ||||
Meta Financial Group Inc. | 394,919 | 15,272 | ||||
* | Bancorp Inc. | 769,780 | 15,026 | |||
BGC Partners Inc. Class A | 4,336,448 | 14,614 | ||||
Live Oak Bancshares Inc. | 428,858 | 14,534 | ||||
German American Bancorp Inc. | 415,026 | 14,186 | ||||
*,1 | Forge Global Holdings Inc. | 1,361,311 | 14,171 | |||
S&T Bancorp Inc. | 512,137 | 14,048 | ||||
Brookline Bancorp Inc. | 1,052,753 | 14,012 | ||||
* | Open Lending Corp. Class A | 1,365,924 | 13,973 | |||
New York Mortgage Trust Inc. | 5,042,154 | 13,916 | ||||
* | Customers Bancorp Inc. | 402,414 | 13,642 | |||
AMERISAFE Inc. | 260,507 | 13,549 | ||||
* | Enova International Inc. | 453,799 | 13,078 | |||
First Foundation Inc. | 638,368 | 13,074 | ||||
Dime Community Bancshares Inc. | 439,812 | 13,040 | ||||
Banc of California Inc. | 736,472 | 12,977 | ||||
MFA Financial Inc. | 1,198,067 | 12,879 | ||||
Premier Financial Corp. | 496,371 | 12,583 | ||||
James River Group Holdings Ltd. | 506,342 | 12,547 | ||||
Preferred Bank | 182,815 | 12,435 | ||||
Lakeland Bancorp Inc. | 849,018 | 12,413 | ||||
Heritage Financial Corp. | 488,279 | 12,285 | ||||
Goosehead Insurance Inc. Class A | 265,776 | 12,138 | ||||
1 | Rocket Cos. Inc. Class A | 1,644,755 | 12,105 | |||
* | Blucora Inc. | 653,694 | 12,067 | |||
Redwood Trust Inc. | 1,560,468 | 12,031 | ||||
Broadmark Realty Capital Inc. | 1,782,775 | 11,962 | ||||
QCR Holdings Inc. | 220,995 | 11,932 | ||||
* | Columbia Financial Inc. | 542,670 | 11,836 | |||
ConnectOne Bancorp Inc. | 483,515 | 11,822 | ||||
KKR Real Estate Finance Trust Inc. | 677,133 | 11,816 | ||||
* | Nicolet Bankshares Inc. | 162,471 | 11,753 | |||
Origin Bancorp Inc. | 298,658 | 11,588 | ||||
Tompkins Financial Corp. | 160,324 | 11,559 | ||||
* | PROG Holdings Inc. | 700,361 | 11,556 | |||
* | Donnelley Financial Solutions Inc. | 391,925 | 11,479 | |||
Washington Trust Bancorp Inc. | 236,745 | 11,451 | ||||
1 | ARMOUR Residential REIT Inc. | 1,605,388 | 11,302 | |||
TPG Inc. Class A | 462,913 | 11,068 |
Shares | Market Value• ($000) | |||||
Ready Capital Corp. | 912,906 | 10,882 | ||||
Ellington Financial Inc. | 731,903 | 10,737 | ||||
Federal Agricultural Mortgage Corp. Class C | 107,372 | 10,485 | ||||
1st Source Corp. | 230,710 | 10,474 | ||||
United Fire Group Inc. | 303,999 | 10,406 | ||||
Univest Financial Corp. | 404,096 | 10,280 | ||||
Kearny Financial Corp. | 874,706 | 9,718 | ||||
Allegiance Bancshares Inc. | 255,868 | 9,662 | ||||
BrightSpire Capital Inc. Class A | 1,267,224 | 9,568 | ||||
* | Metropolitan Bank Holding Corp. | 137,496 | 9,545 | |||
*,1 | Lemonade Inc. | 522,718 | 9,545 | |||
Horizon Bancorp Inc. | 543,184 | 9,462 | ||||
Hanmi Financial Corp. | 415,195 | 9,317 | ||||
B. Riley Financial Inc. | 215,284 | 9,096 | ||||
TFS Financial Corp. | 646,851 | 8,881 | ||||
Camden National Corp. | 201,112 | 8,859 | ||||
Cowen Inc. Class A | 371,876 | 8,810 | ||||
Flushing Financial Corp. | 412,255 | 8,765 | ||||
HarborOne Bancorp Inc. | 615,171 | 8,483 | ||||
Peoples Bancorp Inc. | 318,690 | 8,477 | ||||
Brightsphere Investment Group Inc. | 468,429 | 8,436 | ||||
Central Pacific Financial Corp. | 392,156 | 8,412 | ||||
Community Trust Bancorp Inc. | 206,394 | 8,347 | ||||
Amerant Bancorp Inc. Class A | 295,727 | 8,316 | ||||
First Mid Bancshares Inc. | 229,804 | 8,197 | ||||
Heritage Commerce Corp. | 757,118 | 8,094 | ||||
HomeStreet Inc. | 231,698 | 8,033 | ||||
* | CrossFirst Bankshares Inc. | 608,330 | 8,030 | |||
* | MBIA Inc. | 645,428 | 7,971 | |||
Byline Bancorp Inc. | 333,045 | 7,926 | ||||
Merchants Bancorp | 345,881 | 7,841 | ||||
Dynex Capital Inc. | 491,233 | 7,820 | ||||
Ares Commercial Real Estate Corp. | 625,090 | 7,645 | ||||
First Bancshares Inc. | 264,986 | 7,579 | ||||
WisdomTree Investments Inc. | 1,484,335 | 7,526 | ||||
HCI Group Inc. | 110,239 | 7,470 | ||||
Victory Capital Holdings Inc. Class A | 307,459 | 7,410 | ||||
Diamond Hill Investment Group Inc. | 42,656 | 7,407 | ||||
TPG RE Finance Trust Inc. | 814,344 | 7,337 | ||||
Granite Point Mortgage Trust Inc. | 764,281 | 7,314 | ||||
* | Ambac Financial Group Inc. | 639,779 | 7,261 | |||
A-Mark Precious Metals Inc. | 224,577 | 7,243 | ||||
Old Second Bancorp Inc. | 541,346 | 7,243 | ||||
Cambridge Bancorp | 86,883 | 7,185 | ||||
TrustCo Bank Corp. | 227,418 | 7,014 | ||||
Great Southern Bancorp Inc. | 118,906 | 6,963 | ||||
1 | Orchid Island Capital Inc. | 2,376,229 | 6,772 | |||
CBTX Inc. | 253,882 | 6,751 | ||||
* | LendingTree Inc. | 153,933 | 6,745 | |||
Midland States Bancorp Inc. | 279,944 | 6,730 | ||||
Northfield Bancorp Inc. | 511,179 | 6,661 | ||||
* | SiriusPoint Ltd. | 1,213,453 | 6,577 | |||
Mercantile Bank Corp. | 201,767 | 6,446 | ||||
Bank of Marin Bancorp | 202,458 | 6,434 | ||||
Bank First Corp. | 83,949 | 6,364 | ||||
1 | Invesco Mortgage Capital Inc. | 418,811 | 6,148 | |||
National Western Life Group Inc. Class A | 30,179 | 6,117 | ||||
Hingham Institution For Savings | 21,465 | 6,091 | ||||
Arrow Financial Corp. | 188,255 | 5,988 | ||||
MidWestOne Financial Group Inc. | 201,289 | 5,982 | ||||
P10 Inc. Class A | 535,667 | 5,957 | ||||
Business First Bancshares Inc. | 277,782 | 5,920 | ||||
Peapack-Gladstone Financial Corp. | 195,058 | 5,793 | ||||
Independent Bank Corp. (Michigan) | 300,173 | 5,787 | ||||
First Financial Corp. | 127,139 | 5,658 | ||||
Financial Institutions Inc. | 215,311 | 5,602 | ||||
Equity Bancshares Inc. Class A | 192,093 | 5,601 | ||||
Republic Bancorp Inc. Class A | 115,936 | 5,594 | ||||
* | EZCORP Inc. Class A | 742,162 | 5,574 |
Shares | Market Value• ($000) | |||||
Farmers National Banc Corp. | 369,162 | 5,537 | ||||
HomeTrust Bancshares Inc. | 221,267 | 5,532 | ||||
Waterstone Financial Inc. | 323,527 | 5,516 | ||||
CNB Financial Corp. | 226,856 | 5,488 | ||||
First Community Bankshares Inc. | 178,444 | 5,248 | ||||
Bar Harbor Bankshares | 202,285 | 5,231 | ||||
Peoples Financial Services Corp. | 93,637 | 5,229 | ||||
Primis Financial Corp. | 379,729 | 5,176 | ||||
Universal Insurance Holdings Inc. | 395,366 | 5,152 | ||||
* | World Acceptance Corp. | 45,189 | 5,072 | |||
Citizens & Northern Corp. | 209,102 | 5,054 | ||||
* | Coastal Financial Corp. | 132,314 | 5,044 | |||
Alerus Financial Corp. | 211,273 | 5,030 | ||||
Capstar Financial Holdings Inc. | 252,366 | 4,951 | ||||
SmartFinancial Inc. | 204,788 | 4,948 | ||||
Regional Management Corp. | 131,460 | 4,913 | ||||
1 | Farmers & Merchants Bancorp Inc. | 147,667 | 4,901 | |||
West Bancorp Inc. | 199,877 | 4,865 | ||||
* | Blue Foundry Bancorp | 405,607 | 4,863 | |||
American National Bankshares Inc. | 139,995 | 4,845 | ||||
Metrocity Bankshares Inc. | 237,854 | 4,831 | ||||
First Internet Bancorp | 130,572 | 4,808 | ||||
* | Carter Bankshares Inc. | 359,589 | 4,747 | |||
Mid Penn Bancorp Inc. | 172,371 | 4,649 | ||||
* | AssetMark Financial Holdings Inc. | 247,389 | 4,643 | |||
Southern Missouri Bancorp Inc. | 102,303 | 4,630 | ||||
* | Southern First Bancshares Inc. | 104,405 | 4,551 | |||
Bridge Investment Group Holdings Inc. Class A | 312,811 | 4,548 | ||||
MVB Financial Corp. | 145,333 | 4,521 | ||||
*,1 | Hippo Holdings Inc. | 5,079,443 | 4,463 | |||
Capital City Bank Group Inc. | 159,090 | 4,437 | ||||
Shore Bancshares Inc. | 238,396 | 4,410 | ||||
First of Long Island Corp. | 250,442 | 4,390 | ||||
1 | UWM Holdings Corp. Class A | 1,225,713 | 4,339 | |||
Civista Bancshares Inc. | 199,556 | 4,243 | ||||
* | Selectquote Inc. | 1,694,230 | 4,202 | |||
Sierra Bancorp | 192,109 | 4,175 | ||||
* | Bridgewater Bancshares Inc. | 257,194 | 4,151 | |||
*,1 | Hagerty Inc. Class A | 358,458 | 4,119 | |||
Oppenheimer Holdings Inc. Class A | 123,770 | 4,089 | ||||
Amalgamated Financial Corp. | 204,171 | 4,039 | ||||
Guaranty Bancshares Inc. | 106,714 | 3,868 | ||||
Home Bancorp Inc. | 112,003 | 3,823 | ||||
* | Professional Holding Corp. Class A | 190,415 | 3,818 | |||
South Plains Financial Inc. | 157,484 | 3,802 | ||||
Orrstown Financial Services Inc. | 157,220 | 3,800 | ||||
Northeast Bank | 103,692 | 3,788 | ||||
Provident Bancorp Inc. | 238,739 | 3,748 | ||||
BayCom Corp. | 180,145 | 3,725 | ||||
PCSB Financial Corp. | 193,725 | 3,698 | ||||
BCB Bancorp Inc. | 212,841 | 3,625 | ||||
ACNB Corp. | 121,038 | 3,594 | ||||
Red River Bancshares Inc. | 65,868 | 3,562 | ||||
Northrim Bancorp Inc. | 88,413 | 3,560 | ||||
1 | John Marshall Bancorp Inc. | 155,700 | 3,509 | |||
* | Acacia Research Corp. | 680,956 | 3,432 | |||
First Bancorp Inc. | 113,699 | 3,426 | ||||
RBB Bancorp | 164,129 | 3,393 | ||||
Esquire Financial Holdings Inc. | 101,788 | 3,390 | ||||
Colony Bankcorp Inc. | 224,239 | 3,384 | ||||
Enterprise Bancorp Inc. | 104,032 | 3,349 | ||||
Donegal Group Inc. Class A | 194,016 | 3,308 | ||||
Investors Title Co. | 21,033 | 3,300 | ||||
Summit Financial Group Inc. | 118,808 | 3,300 | ||||
PCB Bancorp | 176,010 | 3,288 | ||||
Blue Ridge Bankshares Inc. | 214,239 | 3,282 | ||||
First Bank | 232,221 | 3,246 | ||||
* | Ocwen Financial Corp. | 115,250 | 3,158 | |||
FS Bancorp Inc. | 109,226 | 3,136 |
Shares | Market Value• ($000) | |||||
GCM Grosvenor Inc. Class A | 441,003 | 3,021 | ||||
* | Velocity Financial Inc. | 273,207 | 3,003 | |||
AFC Gamma Inc. | 194,728 | 2,985 | ||||
* | eHealth Inc. | 318,234 | 2,969 | |||
* | Ponce Financial Group Inc. | 321,052 | 2,967 | |||
Tiptree Inc. Class A | 277,013 | 2,942 | ||||
Investar Holding Corp. | 134,265 | 2,940 | ||||
Perella Weinberg Partners Class A | 497,279 | 2,899 | ||||
Macatawa Bank Corp. | 320,645 | 2,835 | ||||
First Business Financial Services Inc. | 90,275 | 2,816 | ||||
* | Greenlight Capital Re Ltd. Class A | 362,625 | 2,803 | |||
Evans Bancorp Inc. | 82,185 | 2,793 | ||||
Community Financial Corp. | 75,681 | 2,791 | ||||
* | FVCBankcorp Inc. | 147,925 | 2,785 | |||
National Bankshares Inc. | 88,324 | 2,773 | ||||
Parke Bancorp Inc. | 129,820 | 2,721 | ||||
Territorial Bancorp Inc. | 129,778 | 2,706 | ||||
HBT Financial Inc. | 151,274 | 2,703 | ||||
Federal Agricultural Mortgage Corp. Class A | 29,589 | 2,692 | ||||
Norwood Financial Corp. | 110,554 | 2,682 | ||||
* | Republic First Bancorp Inc. | 703,196 | 2,679 | |||
Ames National Corp. | 120,576 | 2,674 | ||||
Capital Bancorp Inc. | 122,969 | 2,668 | ||||
*,1 | Citizens Inc. Class A | 632,742 | 2,651 | |||
Codorus Valley Bancorp Inc. | 117,292 | 2,640 | ||||
* | Atlanticus Holdings Corp. | 74,373 | 2,616 | |||
Bankwell Financial Group Inc. | 83,749 | 2,600 | ||||
Manning & Napier Inc. Class A | 208,505 | 2,600 | ||||
Timberland Bancorp Inc. | 100,093 | 2,502 | ||||
Meridian Corp. | 81,751 | 2,477 | ||||
Great Ajax Corp. | 243,268 | 2,333 | ||||
Middlefield Banc Corp. | 91,987 | 2,318 | ||||
Unity Bancorp Inc. | 87,448 | 2,316 | ||||
Chemung Financial Corp. | 48,507 | 2,280 | ||||
ESSA Bancorp Inc. | 135,039 | 2,269 | ||||
First Northwest Bancorp | 145,405 | 2,268 | ||||
Plumas Bancorp | 79,224 | 2,261 | ||||
First Guaranty Bancshares Inc. | 92,686 | 2,253 | ||||
* | First Western Financial Inc. | 82,320 | 2,238 | |||
Penns Woods Bancorp Inc. | 96,644 | 2,232 | ||||
Luther Burbank Corp. | 170,687 | 2,227 | ||||
* | Oscar Health Inc. Class A | 522,848 | 2,222 | |||
Nexpoint Real Estate Finance Inc. | 107,930 | 2,188 | ||||
Bank of Princeton | 79,418 | 2,181 | ||||
Richmond Mutual Bancorp Inc. | 155,807 | 2,178 | ||||
Sculptor Capital Management Inc. Class A | 260,847 | 2,178 | ||||
Hawthorn Bancshares Inc. | 85,149 | 2,170 | ||||
Greene County Bancorp Inc. | 47,791 | 2,164 | ||||
* | Oportun Financial Corp. | 260,395 | 2,153 | |||
Central Valley Community Bancorp | 145,091 | 2,104 | ||||
* | California Bancorp | 110,633 | 2,103 | |||
Virginia National Bankshares Corp. | 65,882 | 2,075 | ||||
C&F Financial Corp. | 45,113 | 2,074 | ||||
AG Mortgage Investment Trust Inc. | 306,551 | 2,069 | ||||
Five Star Bancorp | 76,817 | 2,030 | ||||
MainStreet Bancshares Inc. | 89,111 | 2,029 | ||||
Citizens Community Bancorp Inc. | 145,610 | 2,014 | ||||
Fidelity D&D Bancorp Inc. | 49,363 | 2,009 | ||||
LCNB Corp. | 132,242 | 1,977 | ||||
Riverview Bancorp Inc. | 299,733 | 1,972 | ||||
OP Bancorp | 185,247 | 1,943 | ||||
* | Maiden Holdings Ltd. | 999,523 | 1,939 | |||
Randolph Bancorp Inc. | 73,189 | 1,936 | ||||
Seven Hills Realty Trust | 181,233 | 1,936 | ||||
* | NI Holdings Inc. | 117,275 | 1,927 | |||
William Penn Bancorp | 163,503 | 1,913 | ||||
First United Corp. | 100,991 | 1,895 | ||||
FNCB Bancorp Inc. | 235,886 | 1,887 | ||||
Crawford & Co. Class B | 265,916 | 1,875 |
Shares | Market Value• ($000) | |||||
First Savings Financial Group Inc. | 77,924 | 1,865 | ||||
Northeast Community Bancorp Inc. | 157,983 | 1,859 | ||||
Peoples Bancorp of North Carolina Inc. | 68,223 | 1,853 | ||||
Associated Capital Group Inc. Class A | 51,505 | 1,845 | ||||
Greenhill & Co. Inc. | 196,365 | 1,810 | ||||
BankFinancial Corp. | 189,835 | 1,783 | ||||
* | Security National Financial Corp. Class A | 209,334 | 1,771 | |||
* | Consumer Portfolio Services Inc. | 170,341 | 1,746 | |||
ChoiceOne Financial Services Inc. | 86,197 | 1,736 | ||||
First Community Corp. | 90,477 | 1,734 | ||||
SB Financial Group Inc. | 99,437 | 1,716 | ||||
Eagle Bancorp Montana Inc. | 85,640 | 1,705 | ||||
* | Moneylion Inc. | 1,278,896 | 1,688 | |||
Sachem Capital Corp. | 412,907 | 1,685 | ||||
Franklin Financial Services Corp. | 55,477 | 1,673 | ||||
* | Malvern Bancorp Inc. | 102,116 | 1,641 | |||
Medallion Financial Corp. | 253,406 | 1,622 | ||||
* | Arlington Asset Investment Corp. Class A | 494,024 | 1,606 | |||
Silvercrest Asset Management Group Inc. Class A | 97,641 | 1,602 | ||||
Salisbury Bancorp Inc. | 33,684 | 1,591 | ||||
Curo Group Holdings Corp. | 286,704 | 1,585 | ||||
Westwood Holdings Group Inc. | 114,381 | 1,578 | ||||
1 | Ellington Residential Mortgage REIT | 209,047 | 1,562 | |||
*,1 | Root Inc. Class A | 1,309,013 | 1,558 | |||
Ohio Valley Banc Corp. | 51,092 | 1,542 | ||||
1 | Finward Bancorp | 41,124 | 1,542 | |||
First Financial Northwest Inc. | 98,698 | 1,534 | ||||
* | Sunlight Financial Holdings Inc. | 519,494 | 1,533 | |||
Western New England Bancorp Inc. | 198,404 | 1,480 | ||||
Oak Valley Bancorp | 85,824 | 1,476 | ||||
Pzena Investment Management Inc. Class A | 222,711 | 1,468 | ||||
Prudential Bancorp Inc. | 96,106 | 1,454 | ||||
* | Sterling Bancorp Inc. | 249,917 | 1,425 | |||
GAMCO Investors Inc. Class A | 67,560 | 1,412 | ||||
United Security Bancshares | 183,759 | 1,400 | ||||
Provident Financial Holdings Inc. | 92,138 | 1,366 | ||||
* | Trean Insurance Group Inc. | 215,476 | 1,342 | |||
CF Bankshares Inc. | 63,217 | 1,328 | ||||
Summit State Bank | 85,789 | 1,306 | ||||
* | Catalyst Bancorp Inc. | 96,077 | 1,300 | |||
1 | Chicago Atlantic Real Estate Finance Inc. | 84,100 | 1,267 | |||
Bank of South Carolina Corp. | 72,414 | 1,260 | ||||
* | USCB Financial Holdings Inc. | 109,163 | 1,260 | |||
Lument Finance Trust Inc. | 526,530 | 1,253 | ||||
*,1 | MarketWise Inc. | 340,444 | 1,226 | |||
* | Third Coast Bancshares Inc. | 54,695 | 1,198 | |||
Guild Holdings Co. Class A | 117,176 | 1,194 | ||||
Western Asset Mortgage Capital Corp. | 981,644 | 1,188 | ||||
First National Corp. | 64,436 | 1,176 | ||||
First Capital Inc. | 42,197 | 1,143 | ||||
* | SWK Holdings Corp. | 65,223 | 1,139 | |||
Old Point Financial Corp. | 44,911 | 1,135 | ||||
United Bancorp Inc. | 66,947 | 1,097 | ||||
HMN Financial Inc. | 47,095 | 1,087 | ||||
Landmark Bancorp Inc. | 42,400 | 1,074 | ||||
*,1 | Bakkt Holdings Inc. | 509,027 | 1,069 | |||
* | Pioneer Bancorp Inc. | 108,951 | 1,068 | |||
1 | Cherry Hill Mortgage Investment Corp. | 164,718 | 1,054 | |||
Bayfirst Financial Corp. | 55,115 | 1,044 | ||||
Crawford & Co. Class A | 133,513 | 1,041 | ||||
* | FFBW Inc. | 85,136 | 1,034 | |||
1 | Angel Oak Mortgage Inc. | 79,746 | 1,034 | |||
Union Bankshares Inc. | 38,300 | 1,002 | ||||
* | Nicholas Financial Inc. | 106,813 | 995 | |||
Citizens Holding Co. | 54,008 | 988 | ||||
Bank of the James Financial Group Inc. | 75,721 | 984 | ||||
Heritage Insurance Holdings Inc. | 370,621 | 978 | ||||
AmeriServ Financial Inc. | 245,532 | 967 | ||||
CB Financial Services Inc. | 41,665 | 952 |
Shares | Market Value• ($000) | |||||
* | MetroMile Inc. | 970,104 | 890 | |||
* | Safeguard Scientifics Inc. | 237,576 | 886 | |||
US Global Investors Inc. Class A | 200,591 | 879 | ||||
* | Kingsway Financial Services Inc. | 151,099 | 861 | |||
Sound Financial Bancorp Inc. | 22,590 | 857 | ||||
First US Bancshares Inc. | 76,671 | 843 | ||||
*,1 | Katapult Holdings Inc. | 787,864 | 843 | |||
* | NerdWallet Inc. Class A | 104,081 | 825 | |||
Bank7 Corp. | 35,498 | 811 | ||||
Partners Bancorp | 87,982 | 795 | ||||
* | ACRES Commercial Realty Corp. | 96,782 | 793 | |||
Community West Bancshares | 55,316 | 792 | ||||
* | Elevate Credit Inc. | 313,340 | 739 | |||
* | Affinity Bancshares Inc. | 46,797 | 695 | |||
IF Bancorp Inc. | 35,959 | 683 | ||||
* | Hallmark Financial Services Inc. | 269,016 | 651 | |||
*,1 | OppFi Inc. | 192,848 | 634 | |||
Pathfinder Bancorp Inc. | 31,287 | 624 | ||||
United Bancshares Inc. | 20,954 | 596 | ||||
Limestone Bancorp Inc. | 32,326 | 595 | ||||
Hennessy Advisors Inc. | 56,865 | 594 | ||||
Auburn National Bancorp Inc. | 19,557 | 529 | ||||
Emclaire Financial Corp. | 14,701 | 513 | ||||
* | GoHealth Inc. Class A | 858,555 | 513 | |||
*,1 | Finance of America Cos. Inc. Class A | 322,706 | 507 | |||
Kingstone Cos. Inc. | 123,015 | 485 | ||||
United Insurance Holdings Corp. | 308,517 | 481 | ||||
Manhattan Bridge Capital Inc. | 76,457 | 428 | ||||
loanDepot Inc. Class A | 285,374 | 411 | ||||
Value Line Inc. | 5,099 | 337 | ||||
* | Bogota Financial Corp. | 29,674 | 333 | |||
* | Midwest Holding Inc. | 25,823 | 310 | |||
Oconee Federal Financial Corp. | 13,246 | 293 | ||||
*,1 | Reliance Global Group Inc. | 139,137 | 291 | |||
* | Oxbridge Re Holdings Ltd. | 84,970 | 284 | |||
* | Ashford Inc. | 20,076 | 280 | |||
* | Heritage Global Inc. | 175,564 | 263 | |||
* | Broadway Financial Corp. | 235,423 | 250 | |||
Atlantic American Corp. | 88,286 | 236 | ||||
*,1,2 | Palisade Bio Inc. CVR | 238,902 | 229 | |||
* | Rhinebeck Bancorp Inc. | 21,436 | 201 | |||
* | Siebert Financial Corp. | 129,565 | 201 | |||
* | Vericity Inc. | 26,052 | 186 | |||
* | FlexShopper Inc. | 180,047 | 162 | |||
Magyar Bancorp Inc. | 12,780 | 151 | ||||
Mid-Southern Bancorp Inc. | 10,175 | 142 | ||||
TC Bancshares Inc. | 9,876 | 134 | ||||
* | Carver Bancorp Inc. | 21,622 | 125 | |||
1 | Cohen & Co. Inc. | 11,109 | 120 | |||
* | Income Opportunity Realty Investors Inc. | 8,937 | 110 | |||
* | Impac Mortgage Holdings Inc. | 181,058 | 105 | |||
Glen Burnie Bancorp | 9,237 | 98 | ||||
Home Federal Bancorp Inc. of Louisiana | 4,434 | 93 | ||||
* | LM Funding America Inc. | 98,813 | 81 | |||
*,1 | Marpai Inc. Class A | 71,725 | 69 | |||
* | Finwise Bancorp | 6,991 | 65 | |||
Village Bank & Trust Financial Corp. | 1,327 | 62 | ||||
* | FedNat Holding Co. | 178,123 | 55 | |||
* | Conifer Holdings Inc. | 24,973 | 42 | |||
* | Patriot National Bancorp Inc. | 3,024 | 37 | |||
National Security Group Inc. | 1,272 | 21 | ||||
Southern States Bancshares Inc. | 900 | 20 | ||||
Kentucky First Federal Bancorp | 2,051 | 16 | ||||
Lake Shore Bancorp Inc. | 38 | 1 | ||||
*,2 | Cogent Biosciences Inc. CVR | 101,693 | — | |||
12,295,532 | ||||||
Health Care (13.3%) | ||||||
* | Veeva Systems Inc. Class A | 1,871,601 | 370,652 | |||
* | Seagen Inc. | 1,722,946 | 304,858 |
Shares | Market Value• ($000) | |||||
* | Avantor Inc. | 8,170,873 | 254,114 | |||
* | Horizon Therapeutics plc | 3,084,768 | 246,041 | |||
* | Alnylam Pharmaceuticals Inc. | 1,621,872 | 236,550 | |||
* | BioMarin Pharmaceutical Inc. | 2,476,116 | 205,196 | |||
Royalty Pharma plc Class A | 4,858,726 | 204,261 | ||||
* | Insulet Corp. | 933,025 | 203,343 | |||
* | United Therapeutics Corp. | 606,665 | 142,955 | |||
* | Jazz Pharmaceuticals plc | 840,689 | 131,156 | |||
* | Neurocrine Biosciences Inc. | 1,277,755 | 124,556 | |||
* | Elanco Animal Health Inc. | 6,318,799 | 124,038 | |||
* | Biohaven Pharmaceutical Holding Co. Ltd. | 846,708 | 123,374 | |||
* | Repligen Corp. | 692,676 | 112,491 | |||
* | Syneos Health Inc. | 1,375,080 | 98,566 | |||
Chemed Corp. | 201,960 | 94,798 | ||||
* | Exact Sciences Corp. | 2,346,286 | 92,420 | |||
* | Shockwave Medical Inc. | 480,949 | 91,943 | |||
* | Masimo Corp. | 684,363 | 89,426 | |||
* | Exelixis Inc. | 4,266,046 | 88,819 | |||
* | Sarepta Therapeutics Inc. | 1,174,262 | 88,023 | |||
Bruker Corp. | 1,339,697 | 84,079 | ||||
* | Envista Holdings Corp. | 2,180,493 | 84,036 | |||
* | Novocure Ltd. | 1,206,852 | 83,876 | |||
* | Acadia Healthcare Co. Inc. | 1,210,612 | 81,874 | |||
* | Halozyme Therapeutics Inc. | 1,838,616 | 80,899 | |||
* | Change Healthcare Inc. | 3,401,713 | 78,444 | |||
* | Tenet Healthcare Corp. | 1,446,241 | 76,014 | |||
Encompass Health Corp. | 1,336,526 | 74,912 | ||||
Perrigo Co. plc | 1,801,754 | 73,097 | ||||
Azenta Inc. | 1,008,446 | 72,709 | ||||
* | Teladoc Health Inc. | 2,155,414 | 71,581 | |||
* | Ionis Pharmaceuticals Inc. | 1,902,852 | 70,444 | |||
* | HealthEquity Inc. | 1,133,122 | 69,562 | |||
* | Intra-Cellular Therapies Inc. | 1,170,571 | 66,816 | |||
* | Inspire Medical Systems Inc. | 365,588 | 66,782 | |||
* | Omnicell Inc. | 586,606 | 66,726 | |||
* | AMN Healthcare Services Inc. | 599,772 | 65,801 | |||
* | Alkermes plc | 2,207,806 | 65,771 | |||
* | QuidelOrtho Corp. | 672,465 | 65,350 | |||
* | LHC Group Inc. | 412,117 | 64,183 | |||
* | Lantheus Holdings Inc. | 920,865 | 60,805 | |||
* | Globus Medical Inc. Class A | 1,065,863 | 59,838 | |||
* | Penumbra Inc. | 473,473 | 58,957 | |||
* | 10X Genomics Inc. Class A | 1,275,110 | 57,699 | |||
* | Ultragenyx Pharmaceutical Inc. | 965,804 | 57,620 | |||
*,1 | CRISPR Therapeutics AG | 948,169 | 57,620 | |||
Premier Inc. Class A | 1,584,843 | 56,547 | ||||
* | Apellis Pharmaceuticals Inc. | 1,232,800 | 55,747 | |||
* | Guardant Health Inc. | 1,371,836 | 55,340 | |||
* | Medpace Holdings Inc. | 366,270 | 54,820 | |||
*,1 | Novavax Inc. | 1,057,512 | 54,388 | |||
* | Integra LifeSciences Holdings Corp. | 957,251 | 51,720 | |||
Ensign Group Inc. | 697,877 | 51,273 | ||||
* | Option Care Health Inc. | 1,842,105 | 51,192 | |||
* | Tandem Diabetes Care Inc. | 858,771 | 50,831 | |||
* | Intellia Therapeutics Inc. | 967,972 | 50,102 | |||
* | Turning Point Therapeutics Inc. | 664,016 | 49,967 | |||
* | Arrowhead Pharmaceuticals Inc. | 1,402,841 | 49,394 | |||
* | Amedisys Inc. | 438,268 | 46,071 | |||
* | Cytokinetics Inc. | 1,164,358 | 45,748 | |||
* | STAAR Surgical Co. | 633,634 | 44,944 | |||
* | Mirati Therapeutics Inc. | 667,348 | 44,799 | |||
* | Haemonetics Corp. | 680,802 | 44,375 | |||
* | ICU Medical Inc. | 268,912 | 44,206 | |||
* | LivaNova plc | 707,402 | 44,191 | |||
*,1 | Doximity Inc. Class A | 1,249,818 | 43,519 | |||
* | iRhythm Technologies Inc. | 400,665 | 43,284 | |||
* | Natera Inc. | 1,184,029 | 41,962 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 1,471,074 | 41,793 | |||
* | Blueprint Medicines Corp. | 784,942 | 39,647 |
Shares | Market Value• ($000) | |||||
* | Prestige Consumer Healthcare Inc. | 669,987 | 39,395 | |||
* | PTC Therapeutics Inc. | 944,000 | 37,817 | |||
* | R1 RCM Inc. | 1,785,066 | 37,415 | |||
CONMED Corp. | 388,532 | 37,206 | ||||
* | Karuna Therapeutics Inc. | 291,814 | 36,917 | |||
* | Denali Therapeutics Inc. | 1,243,594 | 36,599 | |||
* | Merit Medical Systems Inc. | 674,267 | 36,592 | |||
* | Pacira BioSciences Inc. | 624,356 | 36,400 | |||
* | Amicus Therapeutics Inc. | 3,349,206 | 35,970 | |||
* | Enovis Corp. | 652,954 | 35,912 | |||
* | Axonics Inc. | 618,209 | 35,034 | |||
Patterson Cos. Inc. | 1,152,010 | 34,906 | ||||
*,1 | Neogen Corp. | 1,429,129 | 34,428 | |||
* | NuVasive Inc. | 688,441 | 33,844 | |||
* | Evolent Health Inc. Class A | 1,089,311 | 33,453 | |||
Select Medical Holdings Corp. | 1,401,953 | 33,114 | ||||
* | Inari Medical Inc. | 467,798 | 31,806 | |||
Owens & Minor Inc. | 1,003,095 | 31,547 | ||||
* | Insmed Inc. | 1,580,210 | 31,162 | |||
* | Integer Holdings Corp. | 439,490 | 31,054 | |||
* | Oak Street Health Inc. | 1,888,086 | 31,040 | |||
* | Certara Inc. | 1,411,409 | 30,289 | |||
*,1 | Corcept Therapeutics Inc. | 1,269,749 | 30,195 | |||
* | Covetrus Inc. | 1,376,723 | 28,567 | |||
* | Glaukos Corp. | 625,896 | 28,428 | |||
* | Twist Bioscience Corp. | 799,119 | 27,937 | |||
* | BioCryst Pharmaceuticals Inc. | 2,563,886 | 27,126 | |||
* | Progyny Inc. | 926,127 | 26,904 | |||
* | Fate Therapeutics Inc. | 1,084,679 | 26,878 | |||
* | Sotera Health Co. | 1,341,252 | 26,275 | |||
* | Beam Therapeutics Inc. | 656,083 | 25,397 | |||
* | AtriCure Inc. | 614,810 | 25,121 | |||
* | Global Blood Therapeutics Inc. | 785,995 | 25,113 | |||
* | Vir Biotechnology Inc. | 981,625 | 25,002 | |||
* | Arvinas Inc. | 577,810 | 24,320 | |||
* | Pediatrix Medical Group Inc. | 1,135,040 | 23,847 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 2,038,566 | 23,505 | |||
* | AdaptHealth Corp. Class A | 1,295,406 | 23,369 | |||
* | Allscripts Healthcare Solutions Inc. | 1,554,765 | 23,057 | |||
* | Sage Therapeutics Inc. | 700,151 | 22,615 | |||
* | ACADIA Pharmaceuticals Inc. | 1,567,760 | 22,090 | |||
* | Xencor Inc. | 779,913 | 21,346 | |||
* | Supernus Pharmaceuticals Inc. | 715,499 | 20,692 | |||
* | CryoPort Inc. | 664,351 | 20,582 | |||
* | Nevro Corp. | 467,810 | 20,504 | |||
* | Iovance Biotherapeutics Inc. | 1,843,586 | 20,353 | |||
* | Dynavax Technologies Corp. | 1,607,693 | 20,241 | |||
* | Ligand Pharmaceuticals Inc. | 223,229 | 19,917 | |||
* | Cerevel Therapeutics Holdings Inc. | 750,764 | 19,850 | |||
* | Embecta Corp. | 766,449 | 19,407 | |||
* | Apollo Medical Holdings Inc. | 502,373 | 19,387 | |||
* | Myriad Genetics Inc. | 1,060,890 | 19,276 | |||
US Physical Therapy Inc. | 173,990 | 19,000 | ||||
* | Veracyte Inc. | 950,348 | 18,912 | |||
* | CorVel Corp. | 124,535 | 18,340 | |||
* | Emergent BioSolutions Inc. | 590,796 | 18,338 | |||
* | Krystal Biotech Inc. | 272,714 | 17,906 | |||
* | 1Life Healthcare Inc. | 2,275,314 | 17,838 | |||
* | Zentalis Pharmaceuticals Inc. | 634,632 | 17,833 | |||
* | Meridian Bioscience Inc. | 585,023 | 17,796 | |||
* | Multiplan Corp. | 3,233,427 | 17,752 | |||
* | Addus HomeCare Corp. | 212,815 | 17,723 | |||
* | Avanos Medical Inc. | 644,263 | 17,614 | |||
* | Phreesia Inc. | 687,934 | 17,205 | |||
* | Relay Therapeutics Inc. | 1,024,913 | 17,167 | |||
* | Amphastar Pharmaceuticals Inc. | 490,653 | 17,070 | |||
* | Silk Road Medical Inc. | 468,801 | 17,060 | |||
* | Celldex Therapeutics Inc. | 625,183 | 16,855 | |||
* | Travere Therapeutics Inc. | 690,659 | 16,735 |
Shares | Market Value• ($000) | |||||
* | Schrodinger Inc. | 632,432 | 16,703 | |||
* | Kura Oncology Inc. | 904,571 | 16,581 | |||
* | REVOLUTION Medicines Inc. | 838,595 | 16,344 | |||
* | Agios Pharmaceuticals Inc. | 736,493 | 16,328 | |||
* | ChemoCentryx Inc. | 654,692 | 16,223 | |||
* | Vericel Corp. | 625,071 | 15,739 | |||
* | Arcus Biosciences Inc. | 610,068 | 15,459 | |||
* | Axsome Therapeutics Inc. | 400,912 | 15,355 | |||
* | CareDx Inc. | 705,569 | 15,156 | |||
* | Natus Medical Inc. | 461,979 | 15,139 | |||
* | Harmony Biosciences Holdings Inc. | 304,511 | 14,851 | |||
Mesa Laboratories Inc. | 70,186 | 14,314 | ||||
*,1 | EQRx Inc. | 3,024,906 | 14,187 | |||
* | Fulgent Genetics Inc. | 260,094 | 14,183 | |||
*,1 | Cassava Sciences Inc. | 500,687 | 14,079 | |||
* | agilon health Inc. | 642,681 | 14,030 | |||
* | Syndax Pharmaceuticals Inc. | 727,771 | 14,002 | |||
* | ModivCare Inc. | 163,733 | 13,835 | |||
* | IVERIC bio Inc. | 1,434,787 | 13,803 | |||
* | OPKO Health Inc. | 5,450,891 | 13,791 | |||
* | Surgery Partners Inc. | 474,218 | 13,714 | |||
* | Heska Corp. | 144,654 | 13,671 | |||
* | NeoGenomics Inc. | 1,649,007 | 13,439 | |||
* | NextGen Healthcare Inc. | 768,355 | 13,400 | |||
* | Bridgebio Pharma Inc. | 1,454,965 | 13,211 | |||
* | Pacific Biosciences of California Inc. | 2,950,387 | 13,041 | |||
* | Prothena Corp. plc | 479,642 | 13,022 | |||
*,1 | MannKind Corp. | 3,386,240 | 12,902 | |||
* | Avid Bioservices Inc. | 823,514 | 12,567 | |||
* | Innoviva Inc. | 845,153 | 12,474 | |||
National HealthCare Corp. | 177,822 | 12,430 | ||||
* | REGENXBIO Inc. | ��502,446 | 12,410 | |||
* | Cerus Corp. | 2,344,619 | 12,403 | |||
* | Revance Therapeutics Inc. | 896,338 | 12,387 | |||
* | FibroGen Inc. | 1,161,086 | 12,261 | |||
* | ImmunoGen Inc. | 2,706,652 | 12,180 | |||
*,1 | Sorrento Therapeutics Inc. | 6,058,370 | 12,177 | |||
LeMaitre Vascular Inc. | 264,669 | 12,056 | ||||
* | Crinetics Pharmaceuticals Inc. | 643,240 | 11,996 | |||
* | Adaptive Biotechnologies Corp. | 1,481,532 | 11,986 | |||
* | Madrigal Pharmaceuticals Inc. | 167,353 | 11,979 | |||
Atrion Corp. | 18,798 | 11,821 | ||||
* | TransMedics Group Inc. | 374,180 | 11,768 | |||
* | American Well Corp. Class A | 2,681,082 | 11,582 | |||
* | Allogene Therapeutics Inc. | 1,007,167 | 11,482 | |||
* | Enanta Pharmaceuticals Inc. | 242,647 | 11,470 | |||
* | Varex Imaging Corp. | 533,101 | 11,403 | |||
* | Brookdale Senior Living Inc. | 2,489,305 | 11,301 | |||
* | Reata Pharmaceuticals Inc. Class A | 371,240 | 11,282 | |||
* | Chinook Therapeutics Inc. | 623,654 | 10,908 | |||
* | Editas Medicine Inc. | 918,872 | 10,870 | |||
*,1 | Cano Health Inc. | 2,458,343 | 10,768 | |||
Simulations Plus Inc. | 215,357 | 10,624 | ||||
* | RadNet Inc. | 613,506 | 10,601 | |||
* | Privia Health Group Inc. | 355,850 | 10,362 | |||
* | Health Catalyst Inc. | 711,047 | 10,303 | |||
* | Anavex Life Sciences Corp. | 1,023,362 | 10,244 | |||
* | Artivion Inc. | 540,989 | 10,214 | |||
* | AngioDynamics Inc. | 525,433 | 10,167 | |||
* | Sangamo Therapeutics Inc. | 2,455,645 | 10,166 | |||
*,1 | Clover Health Investments Corp. Class A | 4,674,124 | 10,003 | |||
* | Cross Country Healthcare Inc. | 474,592 | 9,886 | |||
*,1 | Geron Corp. | 6,187,616 | 9,591 | |||
* | Vaxcyte Inc. | 440,011 | 9,575 | |||
* | Nektar Therapeutics | 2,502,916 | 9,511 | |||
* | Kymera Therapeutics Inc. | 476,201 | 9,376 | |||
* | Atara Biotherapeutics Inc. | 1,199,486 | 9,344 | |||
* | uniQure NV | 491,547 | 9,162 | |||
* | Catalyst Pharmaceuticals Inc. | 1,297,982 | 9,099 |
Shares | Market Value• ($000) | |||||
* | Aclaris Therapeutics Inc. | 636,343 | 8,883 | |||
* | SomaLogic Inc. | 1,932,988 | 8,737 | |||
* | SpringWorks Therapeutics Inc. | 349,719 | 8,610 | |||
* | Avidity Biosciences Inc. | 588,233 | 8,547 | |||
* | Definitive Healthcare Corp. Class A | 369,814 | 8,480 | |||
* | Rocket Pharmaceuticals Inc. | 615,335 | 8,467 | |||
* | Collegium Pharmaceutical Inc. | 473,443 | 8,389 | |||
* | Codexis Inc. | 793,903 | 8,304 | |||
* | Vanda Pharmaceuticals Inc. | 759,457 | 8,278 | |||
* | OrthoPediatrics Corp. | 191,211 | 8,251 | |||
* | Cutera Inc. | 219,463 | 8,230 | |||
* | Outset Medical Inc. | 550,456 | 8,180 | |||
* | Alector Inc. | 790,813 | 8,035 | |||
* | Arcutis Biotherapeutics Inc. | 375,835 | 8,009 | |||
* | Cardiovascular Systems Inc. | 553,494 | 7,948 | |||
* | NanoString Technologies Inc. | 615,852 | 7,821 | |||
* | Morphic Holding Inc. | 355,303 | 7,710 | |||
* | Hims & Hers Health Inc. | 1,701,655 | 7,709 | |||
* | Deciphera Pharmaceuticals Inc. | 585,329 | 7,697 | |||
* | 2seventy bio Inc. | 575,970 | 7,603 | |||
* | TG Therapeutics Inc. | 1,786,257 | 7,592 | |||
* | Mersana Therapeutics Inc. | 1,642,466 | 7,588 | |||
*,1 | Myovant Sciences Ltd. | 605,022 | 7,520 | |||
* | Agiliti Inc. | 364,467 | 7,475 | |||
* | HealthStream Inc. | 341,230 | 7,408 | |||
* | Quanterix Corp. | 457,463 | 7,406 | |||
* | UFP Technologies Inc. | 92,921 | 7,394 | |||
*,1 | DocGo Inc. | 1,033,899 | 7,382 | |||
National Research Corp. | 189,793 | 7,265 | ||||
* | Hanger Inc. | 506,930 | 7,259 | |||
*,1 | Sana Biotechnology Inc. | 1,119,164 | 7,196 | |||
* | Y-mAbs Therapeutics Inc. | 474,545 | 7,180 | |||
* | Replimune Group Inc. | 406,641 | 7,108 | |||
* | Surmodics Inc. | 188,347 | 7,012 | |||
*,1 | 23andMe Holding Co. | 2,820,529 | 6,995 | |||
* | Pulmonx Corp. | 474,979 | 6,992 | |||
* | Castle Biosciences Inc. | 318,102 | 6,982 | |||
* | Eagle Pharmaceuticals Inc. | 156,309 | 6,945 | |||
* | Nurix Therapeutics Inc. | 543,041 | 6,880 | |||
*,1 | Point Biopharma Global Inc. Class A | 1,001,548 | 6,821 | |||
*,1 | Invitae Corp. | 2,795,049 | 6,820 | |||
* | Radius Health Inc. | 651,518 | 6,756 | |||
* | OptimizeRx Corp. | 245,836 | 6,733 | |||
* | Relmada Therapeutics Inc. | 351,617 | 6,677 | |||
* | Inogen Inc. | 276,063 | 6,675 | |||
* | Computer Programs & Systems Inc. | 206,068 | 6,588 | |||
* | NGM Biopharmaceuticals Inc. | 510,283 | 6,542 | |||
*,1 | CTI BioPharma Corp. | 1,093,754 | 6,530 | |||
* | Theravance Biopharma Inc. | 714,314 | 6,472 | |||
* | Orthofix Medical Inc. | 274,513 | 6,462 | |||
* | Coherus Biosciences Inc. | 876,830 | 6,348 | |||
*,1 | Sharecare Inc. | 3,949,157 | 6,240 | |||
* | Community Health Systems Inc. | 1,658,555 | 6,220 | |||
* | Ideaya Biosciences Inc. | 450,541 | 6,217 | |||
* | Agenus Inc. | 3,198,400 | 6,205 | |||
*,1 | Ocugen Inc. | 2,707,219 | 6,145 | |||
* | PetIQ Inc. Class A | 365,492 | 6,137 | |||
* | Gossamer Bio Inc. | 732,204 | 6,129 | |||
* | Alphatec Holdings Inc. | 925,251 | 6,051 | |||
1 | SIGA Technologies Inc. | 513,603 | 5,948 | |||
*,1 | Vaxart Inc. | 1,697,682 | 5,942 | |||
* | Accolade Inc. | 788,710 | 5,836 | |||
*,1 | Senseonics Holdings Inc. | 5,517,614 | 5,683 | |||
* | Altimmune Inc. | 480,065 | 5,617 | |||
* | BioLife Solutions Inc. | 404,402 | 5,585 | |||
* | iTeos Therapeutics Inc. | 269,897 | 5,560 | |||
* | Evolus Inc. | 476,680 | 5,529 | |||
*,1 | Bionano Genomics Inc. | 3,963,654 | 5,470 | |||
* | GoodRx Holdings Inc. Class A | 921,603 | 5,456 |
Shares | Market Value• ($000) | |||||
Phibro Animal Health Corp. Class A | 285,005 | 5,452 | ||||
*,1 | Butterfly Network Inc. | 1,772,553 | 5,442 | |||
* | ViewRay Inc. | 2,044,963 | 5,419 | |||
* | AnaptysBio Inc. | 265,231 | 5,384 | |||
* | Cara Therapeutics Inc. | 587,508 | 5,364 | |||
*,1 | Roivant Sciences Ltd. | 1,304,803 | 5,311 | |||
*,1 | Esperion Therapeutics Inc. | 833,408 | 5,300 | |||
* | Albireo Pharma Inc. | 265,710 | 5,277 | |||
* | PMV Pharmaceuticals Inc. | 369,443 | 5,265 | |||
* | ANI Pharmaceuticals Inc. | 175,516 | 5,208 | |||
* | Atea Pharmaceuticals Inc. | 724,271 | 5,142 | |||
*,1 | ADMA Biologics Inc. | 2,555,403 | 5,060 | |||
*,1 | Sema4 Holdings Corp. | 4,005,010 | 5,046 | |||
* | Nuvation Bio Inc. | 1,556,076 | 5,042 | |||
* | Day One Biopharmaceuticals Inc. | 278,909 | 4,992 | |||
* | SI-BONE Inc. | 377,284 | 4,980 | |||
* | Inovio Pharmaceuticals Inc. | 2,872,555 | 4,970 | |||
* | Aerie Pharmaceuticals Inc. | 650,497 | 4,879 | |||
* | RAPT Therapeutics Inc. | 267,207 | 4,877 | |||
* | Keros Therapeutics Inc. | 176,070 | 4,865 | |||
* | Axogen Inc. | 583,910 | 4,782 | |||
* | Protagonist Therapeutics Inc. | 603,836 | 4,776 | |||
* | Pennant Group Inc. | 371,053 | 4,753 | |||
*,1 | Viridian Therapeutics Inc. | 406,221 | 4,700 | |||
* | Arcturus Therapeutics Holdings Inc. | 297,077 | 4,676 | |||
*,1 | Intercept Pharmaceuticals Inc. | 336,297 | 4,644 | |||
* | Anika Therapeutics Inc. | 206,804 | 4,616 | |||
* | Zimvie Inc. | 282,062 | 4,516 | |||
*,1 | Nkarta Inc. | 364,602 | 4,492 | |||
* | Kezar Life Sciences Inc. | 541,789 | 4,481 | |||
* | Figs Inc. Class A | 487,153 | 4,438 | |||
* | Signify Health Inc. Class A | 319,277 | 4,406 | |||
* | Ocular Therapeutix Inc. | 1,090,428 | 4,384 | |||
* | Seer Inc. Class A | 486,887 | 4,358 | |||
*,1 | Tricida Inc. | 447,813 | 4,335 | |||
*,1 | Mirum Pharmaceuticals Inc. | 221,550 | 4,311 | |||
* | Karyopharm Therapeutics Inc. | 939,089 | 4,235 | |||
* | Amneal Pharmaceuticals Inc. | 1,313,864 | 4,178 | |||
* | Alignment Healthcare Inc. | 363,579 | 4,148 | |||
* | Organogenesis Holdings Inc. Class A | 848,776 | 4,142 | |||
Utah Medical Products Inc. | 47,898 | 4,114 | ||||
* | Cullinan Oncology Inc. | 320,717 | 4,112 | |||
*,1 | Cogent Biosciences Inc. | 453,705 | 4,092 | |||
* | Bluebird Bio Inc. | 968,064 | 4,008 | |||
* | Stoke Therapeutics Inc. | 303,303 | 4,007 | |||
*,1 | Tango Therapeutics Inc. | 883,351 | 4,002 | |||
* | Heron Therapeutics Inc. | 1,405,934 | 3,923 | |||
* | Prometheus Biosciences Inc. | 138,859 | 3,920 | |||
* | MiMedx Group Inc. | 1,110,308 | 3,853 | |||
*,1 | Alaunos Therapeutics Inc. | 3,097,222 | 3,841 | |||
* | Generation Bio Co. | 582,442 | 3,821 | |||
* | C4 Therapeutics Inc. | 492,654 | 3,715 | |||
* | Kiniksa Pharmaceuticals Ltd. Class A | 376,289 | 3,646 | |||
* | Foghorn Therapeutics Inc. | 261,708 | 3,559 | |||
* | Aadi Bioscience Inc. | 287,960 | 3,548 | |||
*,1 | Bioxcel Therapeutics Inc. | 265,635 | 3,506 | |||
* | Epizyme Inc. | 2,351,974 | 3,457 | |||
* | Arbutus Biopharma Corp. | 1,274,366 | 3,454 | |||
* | Adicet Bio Inc. | 235,153 | 3,433 | |||
* | Kodiak Sciences Inc. | 438,652 | 3,351 | |||
*,1 | ImmunityBio Inc. | 897,851 | 3,340 | |||
*,1 | XOMA Corp. | 149,872 | 3,339 | |||
*,1 | ClearPoint Neuro Inc. | 248,345 | 3,241 | |||
*,1 | CareMax Inc. | 885,783 | 3,215 | |||
*,1 | Tarsus Pharmaceuticals Inc. | 219,962 | 3,211 | |||
*,1 | Clovis Oncology Inc. | 1,756,343 | 3,161 | |||
* | Inhibrx Inc. | 275,736 | 3,130 | |||
* | Sutro Biopharma Inc. | 593,620 | 3,093 | |||
*,1 | CinCor Pharma Inc. | 163,220 | 3,075 |
Shares | Market Value• ($000) | |||||
*,1 | LifeStance Health Group Inc. | 542,869 | 3,018 | |||
* | Akero Therapeutics Inc. | 318,130 | 3,006 | |||
* | Forma Therapeutics Holdings Inc. | 435,980 | 3,004 | |||
* | PROCEPT BioRobotics Corp. | 91,789 | 3,001 | |||
iRadimed Corp. | 88,053 | 2,989 | ||||
* | Cymabay Therapeutics Inc. | 1,003,707 | 2,961 | |||
* | Seres Therapeutics Inc. | 858,564 | 2,945 | |||
* | Joint Corp. | 191,030 | 2,925 | |||
*,1 | Verve Therapeutics Inc. | 190,944 | 2,918 | |||
*,1 | Zomedica Corp. | 13,205,251 | 2,906 | |||
* | Eiger BioPharmaceuticals Inc. | 454,347 | 2,862 | |||
* | Aldeyra Therapeutics Inc. | 716,158 | 2,857 | |||
* | Verastem Inc. | 2,414,753 | 2,801 | |||
*,1 | VBI Vaccines Inc. | 3,463,874 | 2,801 | |||
* | Berkeley Lights Inc. | 556,804 | 2,767 | |||
* | Provention Bio Inc. | 688,273 | 2,753 | |||
* | Viking Therapeutics Inc. | 951,502 | 2,750 | |||
* | Rigel Pharmaceuticals Inc. | 2,388,005 | 2,698 | |||
*,1 | CEL - SCI Corp. | 598,752 | 2,694 | |||
*,1 | Lineage Cell Therapeutics Inc. | 1,704,495 | 2,693 | |||
* | OraSure Technologies Inc. | 986,046 | 2,672 | |||
* | KalVista Pharmaceuticals Inc. | 271,213 | 2,669 | |||
* | AVEO Pharmaceuticals Inc. | 405,482 | 2,660 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 323,509 | 2,633 | |||
*,1 | Quantum-Si Inc. | 1,134,487 | 2,632 | |||
*,1 | DICE Therapeutics Inc. | 169,126 | 2,625 | |||
* | Kinnate Biopharma Inc. | 206,204 | 2,600 | |||
*,1 | Humacyte Inc. | 808,579 | 2,596 | |||
* | Liquidia Corp. | 594,006 | 2,590 | |||
*,2 | PDL BioPharma Inc. | 1,757,467 | 2,583 | |||
*,1 | Amylyx Pharmaceuticals Inc. | 131,359 | 2,530 | |||
* | Harrow Health Inc. | 346,656 | 2,524 | |||
*,1 | G1 Therapeutics Inc. | 500,843 | 2,474 | |||
* | SeaSpine Holdings Corp. | 435,508 | 2,461 | |||
1 | Zynex Inc. | 306,578 | 2,447 | |||
*,1 | Xeris Biopharma Holdings Inc. | 1,580,195 | 2,434 | |||
* | Accuray Inc. | 1,241,097 | 2,433 | |||
* | InfuSystem Holdings Inc. | 250,919 | 2,416 | |||
* | Apyx Medical Corp. | 407,859 | 2,390 | |||
* | EyePoint Pharmaceuticals Inc. | 302,989 | 2,385 | |||
*,1 | Omeros Corp. | 860,394 | 2,366 | |||
* | 4D Molecular Therapeutics Inc. | 333,488 | 2,328 | |||
* | Pliant Therapeutics Inc. | 282,015 | 2,259 | |||
* | ALX Oncology Holdings Inc. | 277,012 | 2,241 | |||
ProPhase Labs Inc. | 176,029 | 2,232 | ||||
*,1 | IGM Biosciences Inc. | 122,922 | 2,216 | |||
* | Immunovant Inc. | 566,815 | 2,211 | |||
* | Beyond Air Inc. | 330,217 | 2,209 | |||
* | Rhythm Pharmaceuticals Inc. | 531,206 | 2,205 | |||
*,1 | Inozyme Pharma Inc. | 462,254 | 2,205 | |||
* | Design Therapeutics Inc. | 157,236 | 2,201 | |||
* | Treace Medical Concepts Inc. | 153,406 | 2,200 | |||
* | Dyne Therapeutics Inc. | 318,763 | 2,190 | |||
* | MacroGenics Inc. | 737,125 | 2,175 | |||
* | Voyager Therapeutics Inc. | 366,690 | 2,167 | |||
* | Co-Diagnostics Inc. | 383,392 | 2,151 | |||
*,1 | VistaGen Therapeutics Inc. | 2,426,478 | 2,135 | |||
* | Marinus Pharmaceuticals Inc. | 439,069 | 2,125 | |||
*,1 | Talkspace Inc. | 1,231,313 | 2,093 | |||
* | Cytek Biosciences Inc. | 194,833 | 2,091 | |||
*,1 | CorMedix Inc. | 516,109 | 2,075 | |||
* | Savara Inc. | 1,364,571 | 2,074 | |||
*,1 | Sesen Bio Inc. | 2,559,435 | 2,074 | |||
*,1 | Lyell Immunopharma Inc. | 317,510 | 2,070 | |||
* | Arcellx Inc. | 113,209 | 2,047 | |||
* | Optinose Inc. | 554,680 | 2,030 | |||
* | Kronos Bio Inc. | 552,831 | 2,012 | |||
* | Scholar Rock Holding Corp. | 361,076 | 1,982 | |||
* | Chimerix Inc. | 948,029 | 1,972 |
Shares | Market Value• ($000) | |||||
*,1 | Janux Therapeutics Inc. | 160,794 | 1,963 | |||
* | Tactile Systems Technology Inc. | 268,032 | 1,957 | |||
* | ORIC Pharmaceuticals Inc. | 431,438 | 1,933 | |||
* | Bioventus Inc. Class A | 280,713 | 1,914 | |||
*,1 | KemPharm Inc. | 427,052 | 1,905 | |||
*,1 | DermTech Inc. | 342,841 | 1,899 | |||
* | Fulcrum Therapeutics Inc. | 387,083 | 1,897 | |||
* | Semler Scientific Inc. | 65,908 | 1,857 | |||
* | Inotiv Inc. | 192,729 | 1,850 | |||
* | Harvard Bioscience Inc. | 511,664 | 1,842 | |||
*,1 | Matinas BioPharma Holdings Inc. | 2,328,621 | 1,840 | |||
*,1 | Atossa Therapeutics Inc. | 1,683,368 | 1,835 | |||
* | Phathom Pharmaceuticals Inc. | 213,738 | 1,804 | |||
* | Assertio Holdings Inc. | 609,803 | 1,799 | |||
*,1 | GreenLight Biosciences Holdings PBC | 811,503 | 1,793 | |||
* | F-star Therapeutics Inc. | 285,564 | 1,788 | |||
*,1 | Nautilus Biotechnology Inc. Class A | 664,589 | 1,788 | |||
*,1 | Lyra Therapeutics Inc. | 316,335 | 1,787 | |||
* | Lexicon Pharmaceuticals Inc. | 956,981 | 1,780 | |||
* | Gritstone bio Inc. | 730,628 | 1,768 | |||
* | Personalis Inc. | 508,354 | 1,754 | |||
* | WaVe Life Sciences Ltd. | 539,798 | 1,754 | |||
*,1 | HilleVax Inc. | 159,913 | 1,748 | |||
*,1 | Nuvalent Inc. Class A | 126,260 | 1,712 | |||
*,1 | Spectrum Pharmaceuticals Inc. | 2,191,617 | 1,709 | |||
*,1 | Aerovate Therapeutics Inc. | 109,365 | 1,709 | |||
*,1 | Precigen Inc. | 1,274,327 | 1,708 | |||
* | Convey Health Solutions Holdings Inc. | 163,984 | 1,705 | |||
* | Selecta Biosciences Inc. | 1,273,212 | 1,668 | |||
* | Otonomy Inc. | 800,841 | 1,666 | |||
* | Vera Therapeutics Inc. Class A | 121,514 | 1,654 | |||
* | Rezolute Inc. | 511,793 | 1,653 | |||
* | Pieris Pharmaceuticals Inc. | 871,212 | 1,629 | |||
*,1 | Paragon 28 Inc. | 102,345 | 1,624 | |||
* | Avita Medical Inc. | 339,404 | 1,612 | |||
*,1 | Citius Pharmaceuticals Inc. | 1,735,800 | 1,597 | |||
*,1 | Monte Rosa Therapeutics Inc. | 165,175 | 1,597 | |||
*,1 | Ventyx Biosciences Inc. | 130,468 | 1,596 | |||
*,1 | Olema Pharmaceuticals Inc. | 391,189 | 1,592 | |||
* | Concert Pharmaceuticals Inc. | 376,519 | 1,585 | |||
*,1 | Owlet Inc. | 924,492 | 1,572 | |||
* | Imago Biosciences Inc. | 117,086 | 1,568 | |||
*,1 | PepGen Inc. | 157,149 | 1,561 | |||
* | CytomX Therapeutics Inc. | 843,775 | 1,544 | |||
*,1 | MediciNova Inc. | 609,149 | 1,541 | |||
* | Apollo Endosurgery Inc. | 421,512 | 1,539 | |||
*,1 | Standard BioTools Inc. | 960,982 | 1,538 | |||
* | Vicarious Surgical Inc. | 523,257 | 1,538 | |||
* | Durect Corp. | 3,190,608 | 1,525 | |||
*,1 | TFF Pharmaceuticals Inc. | 268,314 | 1,516 | |||
* | Allovir Inc. | 388,550 | 1,515 | |||
* | Puma Biotechnology Inc. | 528,174 | 1,505 | |||
* | Adverum Biotechnologies Inc. | 1,240,466 | 1,489 | |||
* | Caribou Biosciences Inc. | 274,267 | 1,489 | |||
*,1 | SmileDirectClub Inc. Class A | 1,430,179 | 1,487 | |||
*,1 | Inmune Bio Inc. | 167,766 | 1,483 | |||
* | Shattuck Labs Inc. | 363,637 | 1,476 | |||
* | Alpine Immune Sciences Inc. | 169,911 | 1,446 | |||
* | Endo International plc | 3,091,975 | 1,440 | |||
*,1 | Biomea Fusion Inc. | 119,961 | 1,437 | |||
* | Allakos Inc. | 458,654 | 1,436 | |||
*,1 | Science 37 Holdings Inc. | 712,362 | 1,432 | |||
*,1 | Erasca Inc. | 256,947 | 1,431 | |||
*,1 | Entrada Therapeutics Inc. | 117,094 | 1,426 | |||
* | Sensus Healthcare Inc. | 184,192 | 1,415 | |||
* | FONAR Corp. | 92,217 | 1,401 | |||
* | Actinium Pharmaceuticals Inc. | 289,718 | 1,394 | |||
* | Celcuity Inc. | 151,836 | 1,382 | |||
* | Akouos Inc. | 285,455 | 1,339 |
Shares | Market Value• ($000) | |||||
*,1 | Outlook Therapeutics Inc. | 1,306,521 | 1,333 | |||
* | Athira Pharma Inc. | 432,337 | 1,319 | |||
* | Jounce Therapeutics Inc. | 429,036 | 1,300 | |||
* | ContraFect Corp. | 423,212 | 1,299 | |||
* | Enzo Biochem Inc. | 624,206 | 1,292 | |||
*,1 | DarioHealth Corp. | 209,614 | 1,287 | |||
* | iCAD Inc. | 318,743 | 1,275 | |||
* | TCR2 Therapeutics Inc. | 438,705 | 1,272 | |||
* | Sight Sciences Inc. | 141,329 | 1,271 | |||
*,1 | PDS Biotechnology Corp. | 347,979 | 1,270 | |||
* | Annexon Inc. | 335,473 | 1,265 | |||
* | Merrimack Pharmaceuticals Inc. | 212,255 | 1,263 | |||
*,1 | Hyperfine Inc. Class A | 566,000 | 1,262 | |||
* | CytoSorbents Corp. | 574,625 | 1,258 | |||
*,1 | ChromaDex Corp. | 742,094 | 1,239 | |||
* | Ovid therapeutics Inc. | 576,453 | 1,239 | |||
* | Akoya Biosciences Inc. | 95,703 | 1,230 | |||
* | Silverback Therapeutics Inc. | 288,024 | 1,221 | |||
*,1 | Asensus Surgical Inc. | 3,064,734 | 1,220 | |||
*,1 | Cardiff Oncology Inc. | 551,356 | 1,213 | |||
*,1 | Humanigen Inc. | 682,358 | 1,208 | |||
* | Aveanna Healthcare Holdings Inc. | 534,364 | 1,208 | |||
*,1 | Capricor Therapeutics Inc. | 339,900 | 1,186 | |||
* | Stereotaxis Inc. | 638,545 | 1,175 | |||
*,1 | Paratek Pharmaceuticals Inc. | 607,789 | 1,173 | |||
* | Praxis Precision Medicines Inc. | 478,421 | 1,172 | |||
*,1 | Taysha Gene Therapies Inc. | 313,296 | 1,165 | |||
*,1 | Biora Therapeutics Inc. | 1,658,860 | 1,161 | |||
* | Edgewise Therapeutics Inc. | 145,776 | 1,160 | |||
*,1 | Oncology Institute Inc. | 227,500 | 1,151 | |||
XBiotech Inc. | 203,977 | 1,148 | ||||
*,1 | Century Therapeutics Inc. | 135,830 | 1,141 | |||
* | Dare Bioscience Inc. | 925,508 | 1,138 | |||
* | Neuronetics Inc. | 349,783 | 1,123 | |||
* | BrainStorm Cell Therapeutics Inc. | 405,606 | 1,119 | |||
* | RxSight Inc. | 79,390 | 1,118 | |||
*,1 | Precision BioSciences Inc. | 690,689 | 1,105 | |||
* | KORU Medical Systems Inc. | 436,377 | 1,104 | |||
* | Assembly Biosciences Inc. | 519,500 | 1,091 | |||
*,1 | Innovage Holding Corp. | 245,528 | 1,075 | |||
* | Pardes Biosciences Inc. Class A | 346,043 | 1,062 | |||
* | Homology Medicines Inc. | 535,097 | 1,054 | |||
*,1 | Adamis Pharmaceuticals Corp. | 2,103,096 | 1,054 | |||
*,1 | Viracta Therapeutics Inc. | 268,632 | 1,042 | |||
* | Curis Inc. | 1,052,279 | 1,036 | |||
* | Passage Bio Inc. | 438,742 | 1,035 | |||
* | Clearside Biomedical Inc. | 696,581 | 1,024 | |||
* | Sonida Senior Living Inc. | 48,598 | 1,021 | |||
*,1 | TherapeuticsMD Inc. | 102,558 | 1,020 | |||
*,1 | Tyra Biosciences Inc. | 142,355 | 1,018 | |||
* | Lipocine Inc. | 1,260,794 | 1,010 | |||
*,1 | Forian Inc. | 228,825 | 1,005 | |||
* | VolitionRX Ltd. | 489,552 | 1,004 | |||
* | Anixa Biosciences Inc. | 327,750 | 1,003 | |||
* | aTyr Pharma Inc. | 352,693 | 998 | |||
* | AquaBounty Technologies Inc. | 579,648 | 991 | |||
* | Instil Bio Inc. | 213,893 | 988 | |||
* | Oncocyte Corp. | 1,089,017 | 980 | |||
* | Cue Biopharma Inc. | 392,131 | 976 | |||
* | Biotricity Inc. | 550,453 | 974 | |||
*,1 | Leap Therapeutics Inc. | 842,416 | 969 | |||
*,1 | Icosavax Inc. | 169,005 | 968 | |||
*,1 | PAVmed Inc. | 1,033,854 | 966 | |||
*,1 | ATI Physical Therapy Inc. | 680,882 | 960 | |||
*,1 | Trevena Inc. | 2,309,501 | 956 | |||
* | Tenaya Therapeutics Inc. | 169,457 | 954 | |||
* | Poseida Therapeutics Inc. | 368,186 | 950 | |||
* | La Jolla Pharmaceutical Co. | 297,161 | 948 | |||
* | NextCure Inc. | 201,452 | 947 |
Shares | Market Value• ($000) | |||||
* | Electromed Inc. | 98,004 | 945 | |||
*,1 | Seelos Therapeutics Inc. | 1,388,840 | 945 | |||
*,1 | Retractable Technologies Inc. | 246,386 | 944 | |||
* | Conformis Inc. | 2,618,559 | 926 | |||
* | Catalyst Biosciences Inc. | 513,243 | 914 | |||
*,1 | Rani Therapeutics Holdings Inc. Class A | 88,181 | 911 | |||
* | NightHawk Biosciences Inc. | 351,949 | 897 | |||
*,1 | Impel Pharmaceuticals Inc. | 95,935 | 894 | |||
* | MyMD Pharmaceuticals Inc. | 410,026 | 890 | |||
*,1 | Checkpoint Therapeutics Inc. | 860,683 | 887 | |||
* | Prelude Therapeutics Inc. | 169,140 | 883 | |||
* | Galectin Therapeutics Inc. | 669,113 | 877 | |||
*,1 | MEI Pharma Inc. | 1,446,242 | 875 | |||
* | Immunic Inc. | 250,592 | 870 | |||
* | LENSAR Inc. | 133,054 | 866 | |||
* | Akebia Therapeutics Inc. | 2,409,053 | 851 | |||
*,1 | Tela Bio Inc. | 118,352 | 841 | |||
*,1 | P3 Health Partners Inc. | 223,860 | 833 | |||
*,1 | Genprex Inc. | 597,928 | 831 | |||
* | Tabula Rasa HealthCare Inc. | 322,440 | 829 | |||
* | Fortress Biotech Inc. | 984,130 | 827 | |||
*,1 | GT Biopharma Inc. | 275,611 | 824 | |||
* | Exagen Inc. | 141,784 | 814 | |||
* | Palatin Technologies Inc. | 2,887,432 | 810 | |||
* | Adagio Therapeutics Inc. | 246,191 | 808 | |||
*,1 | Evelo Biosciences Inc. | 381,811 | 806 | |||
* | Vapotherm Inc. | 318,283 | 805 | |||
*,1 | iBio Inc. | 3,046,799 | 804 | |||
*,1 | Annovis Bio Inc. | 70,905 | 804 | |||
*,1 | PLx Pharma Inc. | 329,367 | 800 | |||
*,1 | Surrozen Inc. | 271,491 | 798 | |||
* | Infinity Pharmaceuticals Inc. | 1,258,444 | 796 | |||
*,1 | 9 Meters Biopharma Inc. | 3,040,609 | 793 | |||
*,1 | Theseus Pharmaceuticals Inc. | 142,199 | 786 | |||
* | Surface Oncology Inc. | 466,484 | 765 | |||
*,1 | SQZ Biotechnologies Co. | 240,692 | 765 | |||
*,1 | Syros Pharmaceuticals Inc. | 779,586 | 751 | |||
* | Opiant Pharmaceuticals Inc. | 62,250 | 746 | |||
*,1 | Second Sight Medical Products Inc. | 367,213 | 745 | |||
*,1 | Oyster Point Pharma Inc. | 171,624 | 743 | |||
* | Streamline Health Solutions Inc. | 582,649 | 740 | |||
* | Orgenesis Inc. | 300,195 | 726 | |||
*,1 | Clene Inc. | 288,123 | 726 | |||
*,1 | Athersys Inc. | 2,760,991 | 718 | |||
* | Synlogic Inc. | 623,408 | 717 | |||
*,1 | Vor BioPharma Inc. | 144,337 | 717 | |||
*,1 | Sientra Inc. | 849,618 | 712 | |||
*,1 | Atreca Inc. Class A | 392,599 | 703 | |||
* | Rallybio Corp. | 92,986 | 702 | |||
* | IsoRay Inc. | 2,232,052 | 690 | |||
* | Oncternal Therapeutics Inc. | 620,309 | 689 | |||
*,1 | Augmedix Inc. | 382,907 | 689 | |||
*,1 | Zynerba Pharmaceuticals Inc. | 603,145 | 688 | |||
* | AirSculpt Technologies Inc. | 115,400 | 684 | |||
* | Codiak Biosciences Inc. | 236,468 | 681 | |||
*,1 | Eton Pharmaceuticals Inc. | 259,195 | 679 | |||
* | Acumen Pharmaceuticals Inc. | 142,419 | 669 | |||
* | Frequency Therapeutics Inc. | 443,323 | 665 | |||
* | BioAtla Inc. | 233,111 | 664 | |||
* | Moleculin Biotech Inc. | 454,105 | 658 | |||
*,1 | Pear Therapeutics Inc. | 427,197 | 658 | |||
* | Applied Molecular Transport Inc. | 222,282 | 647 | |||
*,1 | Ardelyx Inc. | 1,083,721 | 639 | |||
*,1 | Invacare Corp. | 490,517 | 628 | |||
*,1 | Mustang Bio Inc. | 1,070,054 | 626 | |||
* | Hepion Pharmaceuticals Inc. | 1,089,086 | 624 | |||
* | Alpha Teknova Inc. | 73,861 | 620 | |||
* | Black Diamond Therapeutics Inc. | 248,601 | 612 | |||
*,1 | Gelesis Holdings Inc. | 394,479 | 611 |
Shares | Market Value• ($000) | |||||
*,1 | Absci Corp. | 178,102 | 591 | |||
* | Great Elm Group Inc. | 274,500 | 590 | |||
* | Harpoon Therapeutics Inc. | 308,417 | 589 | |||
* | Milestone Scientific Inc. | 643,170 | 589 | |||
* | UpHealth Inc. | 984,568 | 583 | |||
*,1 | Microbot Medical Inc. | 113,273 | 581 | |||
* | Singular Genomics Systems Inc. | 151,515 | 579 | |||
* | ImmuCell Corp. | 66,076 | 574 | |||
* | Lantern Pharma Inc. | 99,130 | 566 | |||
* | CVRx Inc. | 93,620 | 563 | |||
* | Rain Therapeutics Inc. | 100,844 | 561 | |||
* | Ikena Oncology Inc. | 125,336 | 555 | |||
*,1 | Immuneering Corp. Class A | 102,456 | 554 | |||
* | Magenta Therapeutics Inc. | 459,219 | 551 | |||
* | Sharps Compliance Corp. | 186,634 | 545 | |||
*,1 | SCYNEXIS Inc. | 292,607 | 544 | |||
*,1 | Solid Biosciences Inc. | 882,100 | 543 | |||
* | Eyenovia Inc. | 277,328 | 541 | |||
* | Talaris Therapeutics Inc. | 119,365 | 538 | |||
* | Achieve Life Sciences Inc. | 109,487 | 534 | |||
* | Champions Oncology Inc. | 65,827 | 533 | |||
* | Graphite Bio Inc. | 193,655 | 533 | |||
* | scPharmaceuticals Inc. | 110,442 | 532 | |||
*,1 | Aspira Women's Health Inc. | 902,198 | 530 | |||
* | Axcella Health Inc. | 259,076 | 526 | |||
* | Tracon Pharmaceuticals Inc. | 262,440 | 525 | |||
* | Molecular Templates Inc. | 565,684 | 516 | |||
* | Aura Biosciences Inc. | 36,270 | 514 | |||
*,1 | Cortexyme Inc. | 225,353 | 500 | |||
*,1 | Hookipa Pharma Inc. | 305,886 | 499 | |||
Psychemedics Corp. | 78,208 | 496 | ||||
* | Equillium Inc. | 242,039 | 494 | |||
*,1 | SAB Biotherapeutics Inc. | 339,966 | 493 | |||
* | Neoleukin Therapeutics Inc. | 478,112 | 492 | |||
* | Eledon Pharmaceuticals Inc. | 200,945 | 490 | |||
* | Novan Inc. | 209,835 | 489 | |||
* | Biomerica Inc. | 167,984 | 485 | |||
*,1 | AIM ImmunoTech Inc. | 619,120 | 483 | |||
* | Avrobio Inc. | 513,661 | 473 | |||
*,1 | Oragenics Inc. | 1,364,121 | 473 | |||
* | Rubius Therapeutics Inc. | 553,386 | 471 | |||
* | Decibel Therapeutics Inc. | 110,152 | 464 | |||
* | Greenwich Lifesciences Inc. | 54,664 | 463 | |||
* | DiaMedica Therapeutics Inc. | 228,271 | 461 | |||
*,1 | Accelerate Diagnostics Inc. | 463,803 | 460 | |||
* | AIkido Pharma Inc. | 77,589 | 457 | |||
*,1 | Rapid Micro Biosystems Inc. Class A | 105,947 | 456 | |||
* | Caladrius Biosciences Inc. | 850,585 | 451 | |||
* | SELLAS Life Sciences Group Inc. | 201,652 | 450 | |||
* | Werewolf Therapeutics Inc. | 109,878 | 449 | |||
*,1 | Athenex Inc. | 1,063,900 | 436 | |||
*,1 | Ampio Pharmaceuticals Inc. | 2,587,329 | 435 | |||
* | Candel Therapeutics Inc. | 133,875 | 434 | |||
* | Avalo Therapeutics Inc. | 863,405 | 432 | |||
* | Ocuphire Pharma Inc. | 224,241 | 431 | |||
*,1 | Xilio Therapeutics Inc. | 147,680 | 431 | |||
*,1 | Enochian Biosciences Inc. | 223,050 | 430 | |||
* | Applied Genetic Technologies Corp. | 556,629 | 429 | |||
* | Corbus Pharmaceuticals Holdings Inc. | 1,697,444 | 428 | |||
* | Satsuma Pharmaceuticals Inc. | 102,986 | 426 | |||
* | Biolase Inc. | 92,558 | 424 | |||
*,1 | NeuroPace Inc. | 85,399 | 423 | |||
* | Entasis Therapeutics Holdings Inc. | 192,039 | 422 | |||
* | IRIDEX Corp. | 163,869 | 421 | |||
* | Synthetic Biologics Inc. | 1,942,122 | 414 | |||
* | Protara Therapeutics Inc. | 140,444 | 412 | |||
* | CareCloud Inc. | 119,683 | 410 | |||
*,1 | AcelRx Pharmaceuticals Inc. | 1,657,710 | 405 | |||
*,1 | Immunome Inc. | 125,377 | 402 |
Shares | Market Value• ($000) | |||||
*,1 | Gemini Therapeutics Inc. Class A | 237,759 | 402 | |||
*,2 | Tobira Therapeutics Inc. CVR Exp. 12/31/28 | 87,894 | 398 | |||
* | Tyme Technologies Inc. | 1,414,981 | 396 | |||
* | enVVeno Medical Corp. | 104,199 | 394 | |||
*,1 | 89bio Inc. | 121,613 | 392 | |||
*,1 | Jasper Therapeutics Inc. | 201,513 | 389 | |||
* | Omega Therapeutics Inc. | 101,298 | 385 | |||
* | NeuBase Therapeutics Inc. | 362,230 | 380 | |||
* | Sanara Medtech Inc. | 18,221 | 380 | |||
* | Five Star Senior Living Inc. | 312,843 | 375 | |||
* | Societal CDMO Inc. | 470,492 | 374 | |||
* | Precipio Inc. | 352,392 | 374 | |||
*,1 | Delcath Systems Inc. | 92,408 | 369 | |||
* | Bio-Path Holdings Inc. | 94,978 | 368 | |||
* | ElectroCore Inc. | 718,880 | 367 | |||
* | Pyxis Oncology Inc. | 151,114 | 360 | |||
* | CASI Pharmaceuticals Inc. | 125,795 | 360 | |||
* | Kewaunee Scientific Corp. | 21,459 | 355 | |||
*,1 | Vivos Therapeutics Inc. | 274,143 | 354 | |||
* | Corvus Pharmaceuticals Inc. | 356,146 | 353 | |||
*,1 | NeuroMetrix Inc. | 94,942 | 349 | |||
* | ARCA biopharma Inc. | 140,054 | 349 | |||
* | GlycoMimetics Inc. | 582,678 | 348 | |||
*,1 | T2 Biosystems Inc. | 2,150,741 | 347 | |||
* | Cocrystal Pharma Inc. | 841,362 | 345 | |||
* | Larimar Therapeutics Inc. | 172,508 | 338 | |||
*,1 | Trevi Therapeutics Inc. | 119,865 | 337 | |||
*,1 | Dyadic International Inc. | 108,822 | 332 | |||
* | Renovacor Inc. | 163,183 | 331 | |||
* | Finch Therapeutics Group Inc. | 116,096 | 330 | |||
* | PhaseBio Pharmaceuticals Inc. | 545,560 | 327 | |||
*,1 | Nemaura Medical Inc. | 126,397 | 326 | |||
* | Lumos Pharma Inc. | 42,130 | 324 | |||
* | Longeveron Inc. | 54,411 | 323 | |||
* | Bolt Biotherapeutics Inc. | 157,140 | 321 | |||
*,1 | Verrica Pharmaceuticals Inc. | 166,230 | 319 | |||
*,1 | Quotient Ltd. | 1,327,497 | 319 | |||
* | Onconova Therapeutics Inc. | 236,310 | 312 | |||
*,1 | Acutus Medical Inc. | 277,784 | 311 | |||
* | Eloxx Pharmaceuticals Inc. | 1,154,415 | 308 | |||
*,1 | Aligos Therapeutics Inc. | 246,820 | 299 | |||
* | Ekso Bionics Holdings Inc. | 179,165 | 296 | |||
*,1 | Idera Pharmaceuticals Inc. | 644,948 | 296 | |||
* | Alimera Sciences Inc. | 53,677 | 294 | |||
* | Predictive Oncology Inc. | 712,227 | 292 | |||
*,1 | Pulse Biosciences Inc. | 190,750 | 292 | |||
*,1 | Tonix Pharmaceuticals Holding Corp. | 183,041 | 289 | |||
* | Aileron Therapeutics Inc. | 1,106,799 | 288 | |||
* | Marker Therapeutics Inc. | 869,815 | 287 | |||
* | Spero Therapeutics Inc. | 387,103 | 287 | |||
*,1 | VYNE Therapeutics Inc. | 738,229 | 287 | |||
*,1 | Lannett Co. Inc. | 491,745 | 285 | |||
* | UNITY Biotechnology Inc. | 503,319 | 284 | |||
* | Oncorus Inc. | 224,961 | 283 | |||
* | Aptevo Therapeutics Inc. | 78,656 | 282 | |||
*,1 | BioCardia Inc. | 189,000 | 280 | |||
* | Aeglea BioTherapeutics Inc. | 551,501 | 279 | |||
* | Aptinyx Inc. Class A | 490,875 | 274 | |||
*,1 | RVL Pharmaceuticals plc | 200,978 | 273 | |||
* | Cidara Therapeutics Inc. | 545,619 | 267 | |||
*,1 | BioSig Technologies Inc. | 403,690 | 266 | |||
* | Cellectar Biosciences Inc. | 653,769 | 264 | |||
* | Reneo Pharmaceuticals Inc. | 99,437 | 264 | |||
* | 180 Life Sciences Corp. | 307,089 | 260 | |||
* | Terns Pharmaceuticals Inc. | 103,931 | 258 | |||
* | Cyclerion Therapeutics Inc. | 468,984 | 257 | |||
* | X4 Pharmaceuticals Inc. | 262,584 | 253 | |||
* | Pro-Dex Inc. | 15,693 | 253 | |||
* | Regulus Therapeutics Inc. | 119,991 | 248 |
Shares | Market Value• ($000) | |||||
*,1 | Eliem Therapeutics Inc. | 80,793 | 244 | |||
* | OpGen Inc. | 444,132 | 242 | |||
* | Lucira Health Inc. | 130,090 | 242 | |||
* | Cyteir Therapeutics Inc. | 80,980 | 242 | |||
* | Soligenix Inc. | 400,675 | 240 | |||
* | Clever Leaves Holdings Inc. | 244,530 | 239 | |||
*,1 | Eargo Inc. | 316,063 | 238 | |||
*,1 | Chembio Diagnostics Inc. | 359,348 | 234 | |||
* | cbdMD Inc. | 529,204 | 233 | |||
* | NanoViricides Inc. | 123,977 | 233 | |||
* | Aytu BioPharma Inc. | 338,161 | 233 | |||
* | Applied Therapeutics Inc. | 242,749 | 230 | |||
* | Adial Pharmaceuticals Inc. | 170,755 | 229 | |||
*,1 | vTv Therapeutics Inc. Class A | 304,454 | 228 | |||
*,1 | Vincerx Pharma Inc. | 173,040 | 228 | |||
* | Strata Skin Sciences Inc. | 235,454 | 226 | |||
* | Sonendo Inc. | 130,960 | 225 | |||
* | Aquestive Therapeutics Inc. | 345,020 | 221 | |||
* | Sensei Biotherapeutics Inc. | 97,509 | 221 | |||
*,1 | Synaptogenix Inc. | 43,477 | 220 | |||
*,1 | Abeona Therapeutics Inc. | 1,037,222 | 216 | |||
* | Surgalign Holdings Inc. | 63,088 | 215 | |||
* | Sio Gene Therapies Inc. | 593,038 | 214 | |||
* | OncoSec Medical Inc. | 286,551 | 213 | |||
* | Biofrontera Inc. | 114,476 | 213 | |||
*,1 | Qualigen Therapeutics Inc. | 370,708 | 211 | |||
*,1 | NRX Pharmaceuticals Inc. | 347,990 | 209 | |||
* | Biocept Inc. | 217,755 | 205 | |||
* | Cabaletta Bio Inc. | 191,348 | 203 | |||
* | Minerva Neurosciences Inc. | 61,078 | 202 | |||
* | Navidea Biopharmaceuticals Inc. | 276,491 | 199 | |||
*,1 | Vaccinex Inc. | 183,225 | 198 | |||
* | Aethlon Medical Inc. | 176,989 | 198 | |||
* | Forte Biosciences Inc. | 148,829 | 193 | |||
*,1 | Brooklyn ImmunoTherapeutics Inc. | 370,478 | 192 | |||
* | Vyant Bio Inc. | 210,231 | 191 | |||
* | Diffusion Pharmaceuticals Inc. | 28,936 | 190 | |||
*,1 | Organovo Holdings Inc. | 104,359 | 185 | |||
*,1 | Spruce Biosciences Inc. | 104,042 | 181 | |||
* | Tempest Therapeutics Inc. | 84,613 | 180 | |||
*,1 | NanoVibronix Inc. | 289,829 | 178 | |||
* | Galera Therapeutics Inc. | 135,361 | 176 | |||
* | Bellerophon Therapeutics Inc. | 142,009 | 175 | |||
*,1 | Evofem Biosciences Inc. | 154,402 | 174 | |||
*,1 | Jaguar Health Inc. | 587,867 | 173 | |||
* | Cumberland Pharmaceuticals Inc. | 82,984 | 172 | |||
* | Edesa Biotech Inc. | 106,091 | 170 | |||
* | Talis Biomedical Corp. | 209,178 | 170 | |||
*,1 | Codex DNA Inc. | 93,668 | 169 | |||
*,1 | eFFECTOR Therapeutics Inc. | 117,573 | 167 | |||
* | Aravive Inc. | 166,831 | 165 | |||
* | Processa Pharmaceuticals Inc. | 57,932 | 163 | |||
*,1 | Brickell Biotech Inc. | 1,250,058 | 158 | |||
*,1 | SiNtx Technologies Inc. | 362,591 | 157 | |||
* | NexImmune Inc. | 97,320 | 157 | |||
*,1 | Rockwell Medical Inc. | 119,969 | 155 | |||
*,1 | Kala Pharmaceuticals Inc. | 508,706 | 153 | |||
* | American Shared Hospital Services | 68,306 | 152 | |||
*,1 | Nuvectis Pharma Inc. | 13,612 | 152 | |||
*,1 | AN2 Therapeutics Inc. | 19,514 | 151 | |||
* | AgeX Therapeutics Inc. | 259,011 | 149 | |||
* | Virpax Pharmaceuticals Inc. | 88,040 | 148 | |||
* | Celsion Corp. | 79,599 | 145 | |||
*,1 | Aridis Pharmaceuticals Inc. | 128,846 | 142 | |||
* | Cyclo Therapeutics Inc. | 71,043 | 142 | |||
* | Better Therapeutics Inc. | 89,933 | 140 | |||
* | Soleno Therapeutics Inc. | 749,100 | 139 | |||
* | Aprea Therapeutics Inc. | 187,071 | 138 | |||
*,1 | Allena Pharmaceuticals Inc. | 681,160 | 130 |
Shares | Market Value• ($000) | |||||
*,1 | Motus GI Holdings Inc. | 461,025 | 130 | |||
*,1 | Ontrak Inc. | 121,550 | 129 | |||
* | Astria Therapeutics Inc. | 43,064 | 129 | |||
*,2 | Strongbridge Biopharma plc CVR | 687,671 | 125 | |||
*,1 | LogicMark Inc. | 114,124 | 124 | |||
* | Nutriband Inc. | 29,833 | 123 | |||
* | Pulmatrix Inc. | 26,806 | 123 | |||
* | ENDRA Life Sciences Inc. | 513,961 | 120 | |||
* | Context Therapeutics Inc. | 55,579 | 118 | |||
* | Cohbar Inc. | 606,938 | 115 | |||
* | Reviva Pharmaceuticals Holdings Inc. | 103,986 | 114 | |||
*,1 | Biodesix Inc. | 69,032 | 113 | |||
*,1 | Calithera Biosciences Inc. | 46,049 | 113 | |||
* | Phio Pharmaceuticals Corp. | 154,261 | 111 | |||
* | TScan Therapeutics Inc. | 35,247 | 111 | |||
* | IsoPlexis Corp. | 50,953 | 110 | |||
*,1 | Bellicum Pharmaceuticals Inc. | 92,706 | 109 | |||
* | SunLink Health Systems Inc. | 108,130 | 108 | |||
* | Statera Biopharma Inc. | 378,677 | 108 | |||
* | Kintara Therapeutics Inc. | 377,452 | 105 | |||
* | Graybug Vision Inc. | 96,699 | 105 | |||
* | Myomo Inc. | 61,353 | 103 | |||
*,1 | Avinger Inc. | 70,590 | 103 | |||
* | LogicBio Therapeutics Inc. | 282,216 | 102 | |||
*,1 | Ensysce Biosciences Inc. | 117,994 | 102 | |||
* | Sonoma Pharmaceuticals Inc. | 34,014 | 100 | |||
*,1 | Lexaria Bioscience Corp. | 33,164 | 99 | |||
*,1 | Immix Biopharma Inc. | 38,129 | 99 | |||
* | Petros Pharmaceuticals Inc. | 119,141 | 98 | |||
* | Monopar Therapeutics Inc. | 45,070 | 98 | |||
* | Venus Concept Inc. | 209,199 | 97 | |||
* | Angion Biomedica Corp. | 84,876 | 97 | |||
*,1 | Evoke Pharma Inc. | 29,851 | 97 | |||
* | Cyclacel Pharmaceuticals Inc. | 86,789 | 94 | |||
*,1 | NovaBay Pharmaceuticals Inc. | 373,541 | 93 | |||
* | Protagenic Therapeutics Inc. | 126,837 | 91 | |||
* | PharmaCyte Biotech Inc. | 39,935 | 90 | |||
*,1 | Vigil Neuroscience Inc. | 34,534 | 89 | |||
* | Hoth Therapeutics Inc. | 210,314 | 88 | |||
*,1 | Benitec Biopharma Inc. | 74,773 | 87 | |||
* | Armata Pharmaceuticals Inc. | 21,625 | 84 | |||
* | PetVivo Holdings Inc. | 52,937 | 84 | |||
* | Plus Therapeutics Inc. | 154,194 | 83 | |||
*,1 | Yield10 Bioscience Inc. | 36,944 | 83 | |||
* | IMARA Inc. | 65,610 | 80 | |||
* | iSpecimen Inc. | 36,786 | 80 | |||
* | Salarius Pharmaceuticals Inc. | 377,847 | 79 | |||
* | Timber Pharmaceuticals Inc. | 252,587 | 79 | |||
* | Aziyo Biologics Inc. Class A | 11,215 | 79 | |||
* | Sigilon Therapeutics Inc. | 95,157 | 79 | |||
* | Virios Therapeutics Inc. | 18,685 | 79 | |||
* | Xenetic Biosciences Inc. | 96,724 | 77 | |||
* | GeoVax Labs Inc. | 91,154 | 76 | |||
* | IN8bio Inc. | 31,297 | 76 | |||
* | Landos Biopharma Inc. | 103,089 | 75 | |||
* | Exicure Inc. | 34,823 | 75 | |||
* | Allied Healthcare Products Inc. | 45,588 | 74 | |||
* | Viveve Medical Inc. | 114,011 | 74 | |||
*,1 | HTG Molecular Diagnostics Inc. | 70,922 | 73 | |||
* | Longboard Pharmaceuticals Inc. | 23,559 | 73 | |||
* | Sonnet BioTherapeutics Holdings Inc. | 252,808 | 71 | |||
* | INVO BioScience Inc. | 105,539 | 70 | |||
* | Miromatrix Medical Inc. | 17,578 | 70 | |||
*,1 | Windtree Therapeutics Inc. | 166,133 | 69 | |||
* | CynergisTek Inc. | 55,455 | 67 | |||
* | SCWorx Corp. | 103,672 | 67 | |||
* | Dynatronics Corp. | 106,188 | 66 | |||
*,1 | Applied DNA Sciences Inc. | 87,412 | 65 | |||
*,2 | Adamas Pharmaceuticals Inc. CVR | 1,055,708 | 64 |
Shares | Market Value• ($000) | |||||
* | Imac Holdings Inc. | 76,183 | 63 | |||
*,1 | Elevation Oncology Inc. | 40,981 | 57 | |||
* | Acorda Therapeutics Inc. | 117,219 | 55 | |||
Indaptus Therapeutics Inc. | 21,050 | 55 | ||||
* | Pasithea Therapeutics Corp. | 53,683 | 54 | |||
* | Yumanity Therapeutics Inc. | 29,192 | 53 | |||
* | Tenax Therapeutics Inc. | 173,801 | 52 | |||
* | ReShape Lifesciences Inc. | 88,359 | 51 | |||
* | HCW Biologics Inc. | 23,321 | 51 | |||
* | Minerva Surgical Inc. | 21,195 | 50 | |||
* | Baudax Bio Inc. | 58,320 | 49 | |||
* | BioVie Inc. Class A | 32,672 | 47 | |||
*,1 | Calyxt Inc. | 192,274 | 46 | |||
* | Sera Prognostics Inc. Class A | 28,210 | 46 | |||
* | Creative Medical Technology Holdings Inc. | 61,050 | 46 | |||
* | PolarityTE Inc. | 31,876 | 46 | |||
* | Galecto Inc. | 25,708 | 44 | |||
* | Biorestorative Therapies Inc. | 14,000 | 42 | |||
* | Titan Pharmaceuticals Inc. | 72,773 | 41 | |||
* | Enveric Biosciences Inc. | 191,247 | 41 | |||
* | Metacrine Inc. | 74,962 | 37 | |||
* | Lixte Biotechnology Holdings Inc. | 48,388 | 37 | |||
*,1 | Agile Therapeutics Inc. | 29,419 | 34 | |||
* | Avenue Therapeutics Inc. | 125,030 | 33 | |||
*,1 | Histogen Inc. | 13,638 | 31 | |||
*,1 | RA Medical Systems Inc. | 96,567 | 30 | |||
* | NeuroBo Pharmaceuticals Inc. | 59,547 | 28 | |||
*,2 | Aduro Biotech Inc. CVR | 150,581 | 28 | |||
* | Palisade Bio Inc. | 69,410 | 28 | |||
*,1 | Kiora Pharmaceuticals Inc. | 59,968 | 28 | |||
* | Inhibikase Therapeutics Inc. | 34,361 | 26 | |||
*,1 | Clarus Therapeutics Holdings Inc. | 65,600 | 25 | |||
*,1,2 | Oncternal Therapeutics Inc. CVR | 20,153 | 21 | |||
* | ThermoGenesis Holdings Inc. | 77,065 | 21 | |||
*,2 | Aevi Genomic Medicine Inc. CVR | 631,947 | 21 | |||
* | HeartBeam Inc. | 15,570 | 20 | |||
* | Aditxt Inc. | 118,348 | 17 | |||
* | Tenon Medical Inc. | 7,028 | 16 | |||
* | Vallon Pharmaceuticals Inc. | 22,146 | 14 | |||
*,1 | Panbela Therapeutics Inc. | 20,608 | 14 | |||
*,2 | Ocera Therapeutics Inc. CVR | 48,417 | 13 | |||
* | Cognition Therapeutics Inc. | 4,487 | 10 | |||
* | GBS Inc. | 11,388 | 8 | |||
*,2 | Qualigen Therapeutics Inc. CVR | 91,096 | 6 | |||
*,2 | Alexza Pharmaceuticals Inc. CVR | 128,704 | 5 | |||
* | Ligand Pharmaceuticals Inc. Glucagon CVR Rights | 395,811 | 3 | |||
* | Ligand Pharmaceuticals Inc. General CVR Rights | 395,811 | 3 | |||
* | Ligand Pharmaceuticals Inc. Roche CVR Rights | 395,811 | 3 | |||
*,1,2 | Seelos Therapeutics Inc. CVR | 5,736 | 3 | |||
*,2 | F-star Therapeutics Inc. CVR | 40,838 | 3 | |||
* | InVivo Therapeutics Holdings Corp. | 648 | 3 | |||
*,2 | Ambit Biosciences Corp. CVR | 22,388 | — | |||
*,2 | NeuroBo Pharmaceuticals Inc. CVR | 5,194 | — | |||
* | Advaxis Inc. Warrants Exp. 9/11/24 | 47,130 | — | |||
*,2 | Lantheus Holdings Inc. CVR | 1,316,898 | — | |||
*,2 | Achillion Pharmaceuticals Inc. CVR | 374 | — | |||
*,1,2 | Aerpio Pharmaceuticals Inc. CVR | 498,929 | — | |||
*,2 | Salarius Pharmaceuticals Inc. Warrants Exp. 1/20/25 | 119,407 | — | |||
* | First Wave BioPharma Inc. | 400 | — | |||
10,302,810 | ||||||
Industrials (14.2%) | ||||||
* | Uber Technologies Inc. | 22,661,929 | 463,663 | |||
* | CoStar Group Inc. | 5,302,862 | 320,346 | |||
TransUnion | 2,577,436 | 206,169 | ||||
Carlisle Cos. Inc. | 692,591 | 165,259 | ||||
Booz Allen Hamilton Holding Corp. | 1,780,110 | 160,851 | ||||
Graco Inc. | 2,241,638 | 133,176 | ||||
Hubbell Inc. Class B | 717,487 | 128,129 | ||||
* | Builders FirstSource Inc. | 2,325,131 | 124,860 |
Shares | Market Value• ($000) | |||||
AECOM | 1,892,743 | 123,445 | ||||
*,1 | Plug Power Inc. | 6,994,081 | 115,892 | |||
Watsco Inc. | 444,241 | 106,094 | ||||
Toro Co. | 1,392,752 | 105,557 | ||||
Regal Rexnord Corp. | 895,936 | 101,707 | ||||
Knight-Swift Transportation Holdings Inc. Class A | 2,189,999 | 101,375 | ||||
HEICO Corp. Class A | 942,788 | 99,351 | ||||
Tetra Tech Inc. | 721,184 | 98,478 | ||||
* | WillScot Mobile Mini Holdings Corp. | 2,986,704 | 96,829 | |||
Owens Corning | 1,299,288 | 96,550 | ||||
Lincoln Electric Holdings Inc. | 778,374 | 96,020 | ||||
Lennox International Inc. | 441,678 | 91,246 | ||||
* | Middleby Corp. | 725,757 | 90,981 | |||
KBR Inc. | 1,870,366 | 90,507 | ||||
* | Axon Enterprise Inc. | 956,012 | 89,072 | |||
* | CACI International Inc. Class A | 313,844 | 88,435 | |||
Sensata Technologies Holding plc | 2,086,580 | 86,197 | ||||
* | FTI Consulting Inc. | 460,937 | 83,360 | |||
* | Trex Co. Inc. | 1,525,264 | 83,005 | |||
AGCO Corp. | 816,061 | 80,545 | ||||
* | Chart Industries Inc. | 480,941 | 80,500 | |||
HEICO Corp. | 609,898 | 79,970 | ||||
Donaldson Co. Inc. | 1,657,926 | 79,813 | ||||
Woodward Inc. | 812,108 | 75,112 | ||||
ITT Inc. | 1,112,282 | 74,790 | ||||
MDU Resources Group Inc. | 2,726,490 | 73,588 | ||||
* | Clarivate plc | 5,238,919 | 72,611 | |||
Oshkosh Corp. | 876,803 | 72,021 | ||||
* | SiteOne Landscape Supply Inc. | 603,203 | 71,703 | |||
Landstar System Inc. | 491,761 | 71,512 | ||||
* | RBC Bearings Inc. | 386,167 | 71,422 | |||
Acuity Brands Inc. | 462,127 | 71,186 | ||||
EMCOR Group Inc. | 682,823 | 70,303 | ||||
Science Applications International Corp. | 747,616 | 69,603 | ||||
nVent Electric plc | 2,213,986 | 69,364 | ||||
Advanced Drainage Systems Inc. | 766,031 | 68,996 | ||||
Curtiss-Wright Corp. | 514,155 | 67,899 | ||||
* | Avis Budget Group Inc. | 460,951 | 67,797 | |||
BWX Technologies Inc. | 1,214,066 | 66,883 | ||||
* | Saia Inc. | 351,761 | 66,131 | |||
* | Sunrun Inc. | 2,793,811 | 65,263 | |||
Valmont Industries Inc. | 286,091 | 64,265 | ||||
* | XPO Logistics Inc. | 1,328,386 | 63,975 | |||
* | WESCO International Inc. | 596,943 | 63,933 | |||
Exponent Inc. | 696,650 | 63,723 | ||||
AMERCO | 132,103 | 63,176 | ||||
* | ASGN Inc. | 679,061 | 61,285 | |||
MSA Safety Inc. | 492,114 | 59,580 | ||||
* | GXO Logistics Inc. | 1,370,165 | 59,287 | |||
* | Clean Harbors Inc. | 674,796 | 59,159 | |||
Hexcel Corp. | 1,129,210 | 59,069 | ||||
* | IAA Inc. | 1,795,565 | 58,841 | |||
Simpson Manufacturing Co. Inc. | 582,599 | 58,615 | ||||
UFP Industries Inc. | 830,633 | 56,599 | ||||
* | Univar Solutions Inc. | 2,271,838 | 56,501 | |||
Crane Holdings Co. | 644,072 | 56,395 | ||||
* | MasTec Inc. | 775,977 | 55,607 | |||
* | Stericycle Inc. | 1,238,557 | 54,311 | |||
ManpowerGroup Inc. | 708,882 | 54,166 | ||||
* | Lyft Inc. Class A | 4,038,950 | 53,637 | |||
* | Evoqua Water Technologies Corp. | 1,614,065 | 52,473 | |||
Flowserve Corp. | 1,746,517 | 50,003 | ||||
Allison Transmission Holdings Inc. | 1,300,424 | 50,001 | ||||
* | Mercury Systems Inc. | 765,994 | 49,276 | |||
Applied Industrial Technologies Inc. | 511,223 | 49,164 | ||||
* | Kirby Corp. | 805,139 | 48,985 | |||
* | Casella Waste Systems Inc. Class A | 673,013 | 48,915 | |||
Ryder System Inc. | 676,375 | 48,063 | ||||
* | Atkore Inc. | 578,271 | 48,002 |
Shares | Market Value• ($000) | |||||
Timken Co. | 898,905 | 47,687 | ||||
Armstrong World Industries Inc. | 631,596 | 47,344 | ||||
Insperity Inc. | 472,614 | 47,181 | ||||
MSC Industrial Direct Co. Inc. Class A | 627,324 | 47,118 | ||||
Air Lease Corp. Class A | 1,400,107 | 46,806 | ||||
John Bean Technologies Corp. | 423,476 | 46,760 | ||||
* | Fluor Corp. | 1,884,727 | 45,874 | |||
Zurn Elkay Water Solutions Corp. | 1,672,591 | 45,561 | ||||
Triton International Ltd. | 861,248 | 45,345 | ||||
Watts Water Technologies Inc. Class A | 367,718 | 45,170 | ||||
GATX Corp. | 470,260 | 44,280 | ||||
Korn Ferry | 723,066 | 41,952 | ||||
Spirit AeroSystems Holdings Inc. Class A | 1,421,819 | 41,659 | ||||
* | API Group Corp. | 2,731,162 | 40,886 | |||
* | Aerojet Rocketdyne Holdings Inc. | 999,524 | 40,581 | |||
Mueller Industries Inc. | 757,138 | 40,348 | ||||
Comfort Systems USA Inc. | 480,707 | 39,971 | ||||
Hillenbrand Inc. | 967,097 | 39,612 | ||||
* | Welbilt Inc. | 1,663,670 | 39,612 | |||
Matson Inc. | 538,993 | 39,282 | ||||
* | TriNet Group Inc. | 505,405 | 39,230 | |||
ABM Industries Inc. | 894,913 | 38,857 | ||||
Brink's Co. | 627,377 | 38,088 | ||||
Franklin Electric Co. Inc. | 511,633 | 37,482 | ||||
* | Resideo Technologies Inc. | 1,927,765 | 37,437 | |||
* | Dycom Industries Inc. | 398,348 | 37,062 | |||
* | Beacon Roofing Supply Inc. | 715,318 | 36,739 | |||
* | Bloom Energy Corp. Class A | 2,212,190 | 36,501 | |||
* | JetBlue Airways Corp. | 4,258,043 | 35,640 | |||
ManTech International Corp. Class A | 366,390 | 34,972 | ||||
UniFirst Corp. | 202,853 | 34,927 | ||||
*,1 | Spirit Airlines Inc. | 1,447,635 | 34,512 | |||
Vertiv Holdings Co. Class A | 4,111,238 | 33,794 | ||||
* | Meritor Inc. | 927,606 | 33,700 | |||
* | Upwork Inc. | 1,609,178 | 33,278 | |||
Forward Air Corp. | 357,126 | 32,841 | ||||
EnerSys | 552,404 | 32,570 | ||||
Albany International Corp. Class A | 412,566 | 32,506 | ||||
*,1 | ChargePoint Holdings Inc. | 2,357,560 | 32,275 | |||
* | SPX Corp. | 603,346 | 31,881 | |||
* | Hub Group Inc. Class A | 449,147 | 31,862 | |||
Boise Cascade Co. | 525,382 | 31,255 | ||||
Moog Inc. Class A | 389,286 | 30,905 | ||||
Werner Enterprises Inc. | 798,554 | 30,776 | ||||
* | Dun & Bradstreet Holdings Inc. | 2,038,931 | 30,645 | |||
Brady Corp. Class A | 646,224 | 30,528 | ||||
Altra Industrial Motion Corp. | 864,880 | 30,487 | ||||
AAON Inc. | 551,369 | 30,193 | ||||
Arcosa Inc. | 648,088 | 30,091 | ||||
Herc Holdings Inc. | 333,604 | 30,074 | ||||
Federal Signal Corp. | 813,934 | 28,976 | ||||
Helios Technologies Inc. | 434,407 | 28,779 | ||||
Kadant Inc. | 154,800 | 28,228 | ||||
* | CBIZ Inc. | 702,111 | 28,056 | |||
Encore Wire Corp. | 259,425 | 26,959 | ||||
MillerKnoll Inc. | 1,012,473 | 26,598 | ||||
Esab Corp. | 607,745 | 26,589 | ||||
Rush Enterprises Inc. Class A | 549,449 | 26,483 | ||||
* | GMS Inc. | 577,885 | 25,716 | |||
Kennametal Inc. | 1,101,987 | 25,599 | ||||
* | AeroVironment Inc. | 309,395 | 25,432 | |||
Terex Corp. | 926,311 | 25,353 | ||||
Maxar Technologies Inc. | 971,567 | 25,348 | ||||
* | Shoals Technologies Group Inc. Class A | 1,528,371 | 25,188 | |||
* | AZEK Co. Inc. Class A | 1,495,907 | 25,041 | |||
McGrath RentCorp | 323,295 | 24,570 | ||||
Mueller Water Products Inc. Class A | 2,088,502 | 24,498 | ||||
* | KAR Auction Services Inc. | 1,617,179 | 23,886 | |||
* | Alight Inc. Class A | 3,510,327 | 23,695 |
Shares | Market Value• ($000) | |||||
ESCO Technologies Inc. | 345,487 | 23,621 | ||||
ArcBest Corp. | 330,575 | 23,263 | ||||
* | Masonite International Corp. | 301,333 | 23,151 | |||
* | Kratos Defense & Security Solutions Inc. | 1,665,282 | 23,114 | |||
* | Allegiant Travel Co. | 201,156 | 22,749 | |||
Trinity Industries Inc. | 934,497 | 22,634 | ||||
EnPro Industries Inc. | 276,021 | 22,614 | ||||
* | Air Transport Services Group Inc. | 769,798 | 22,116 | |||
CSW Industrials Inc. | 211,950 | 21,837 | ||||
* | Atlas Air Worldwide Holdings Inc. | 348,884 | 21,530 | |||
ICF International Inc. | 224,655 | 21,342 | ||||
* | Driven Brands Holdings Inc. | 758,138 | 20,879 | |||
HNI Corp. | 580,810 | 20,148 | ||||
* | Veritiv Corp. | 184,881 | 20,069 | |||
* | Array Technologies Inc. | 1,818,900 | 20,026 | |||
* | MYR Group Inc. | 227,152 | 20,019 | |||
Lindsay Corp. | 146,005 | 19,392 | ||||
Barnes Group Inc. | 613,153 | 19,094 | ||||
* | Huron Consulting Group Inc. | 292,520 | 19,011 | |||
* | Ameresco Inc. Class A | 413,048 | 18,818 | |||
GrafTech International Ltd. | 2,661,526 | 18,817 | ||||
* | NV5 Global Inc. | 159,875 | 18,664 | |||
* | AAR Corp. | 445,223 | 18,628 | |||
* | FuelCell Energy Inc. | 4,905,678 | 18,396 | |||
Griffon Corp. | 642,788 | 18,017 | ||||
* | CoreCivic Inc. | 1,611,876 | 17,908 | |||
Granite Construction Inc. | 611,515 | 17,820 | ||||
* | Proto Labs Inc. | 369,760 | 17,689 | |||
* | Cornerstone Building Brands Inc. | 721,994 | 17,682 | |||
*,1 | Joby Aviation Inc. | 3,594,507 | 17,649 | |||
Healthcare Services Group Inc. | 1,002,554 | 17,454 | ||||
* | Core & Main Inc. Class A | 777,610 | 17,341 | |||
* | Gibraltar Industries Inc. | 439,969 | 17,049 | |||
* | JELD-WEN Holding Inc. | 1,143,345 | 16,681 | |||
Kforce Inc. | 268,612 | 16,477 | ||||
* | Vicor Corp. | 288,245 | 15,776 | |||
Primoris Services Corp. | 724,896 | 15,774 | ||||
Greenbrier Cos. Inc. | 437,203 | 15,735 | ||||
Enerpac Tool Group Corp. Class A | 819,490 | 15,587 | ||||
Alamo Group Inc. | 132,726 | 15,453 | ||||
Tennant Co. | 253,534 | 15,022 | ||||
* | NOW Inc. | 1,494,581 | 14,617 | |||
*,1 | Virgin Galactic Holdings Inc. | 2,415,387 | 14,541 | |||
* | Parsons Corp. | 357,593 | 14,454 | |||
*,1 | Nikola Corp. | 3,010,644 | 14,331 | |||
* | SkyWest Inc. | 667,575 | 14,186 | |||
* | Distribution Solutions Group Inc. | 274,695 | 14,117 | |||
Standex International Corp. | 165,521 | 14,033 | ||||
* | Gates Industrial Corp. plc | 1,286,966 | 13,912 | |||
Marten Transport Ltd. | 826,473 | 13,901 | ||||
* | PGT Innovations Inc. | 816,418 | 13,585 | |||
AZZ Inc. | 328,825 | 13,423 | ||||
*,1 | Enovix Corp. | 1,457,916 | 12,990 | |||
* | Stem Inc. | 1,770,184 | 12,675 | |||
Steelcase Inc. Class A | 1,178,071 | 12,641 | ||||
Deluxe Corp. | 574,300 | 12,445 | ||||
Astec Industries Inc. | 304,684 | 12,425 | ||||
H&E Equipment Services Inc. | 427,488 | 12,384 | ||||
Matthews International Corp. Class A | 427,125 | 12,246 | ||||
* | Montrose Environmental Group Inc. | 358,081 | 12,089 | |||
* | Hillman Solutions Corp. | 1,379,629 | 11,920 | |||
Apogee Enterprises Inc. | 299,445 | 11,744 | ||||
* | Great Lakes Dredge & Dock Corp. | 888,806 | 11,652 | |||
* | Construction Partners Inc. Class A | 554,673 | 11,615 | |||
* | Triumph Group Inc. | 873,222 | 11,605 | |||
*,1 | Proterra Inc. | 2,497,502 | 11,588 | |||
Kaman Corp. | 370,180 | 11,568 | ||||
* | Hayward Holdings Inc. | 781,913 | 11,252 | |||
* | GEO Group Inc. | 1,662,116 | 10,970 |
Shares | Market Value• ($000) | |||||
Columbus McKinnon Corp. | 380,623 | 10,798 | ||||
Schneider National Inc. Class B | 474,951 | 10,629 | ||||
* | ACV Auctions Inc. Class A | 1,617,791 | 10,580 | |||
*,1 | Planet Labs PBC | 2,438,177 | 10,557 | |||
*,1 | Hertz Global Holdings Inc. | 664,030 | 10,518 | |||
Quanex Building Products Corp. | 460,143 | 10,468 | ||||
* | Titan International Inc. | 688,306 | 10,393 | |||
* | Cimpress plc | 264,662 | 10,295 | |||
Interface Inc. Class A | 807,200 | 10,122 | ||||
* | American Woodmark Corp. | 224,551 | 10,107 | |||
* | Energy Recovery Inc. | 514,234 | 9,986 | |||
* | Hawaiian Holdings Inc. | 697,360 | 9,979 | |||
* | SP Plus Corp. | 313,900 | 9,643 | |||
Eagle Bulk Shipping Inc. | 185,400 | 9,619 | ||||
Kelly Services Inc. Class A | 481,786 | 9,554 | ||||
Genco Shipping & Trading Ltd. | 485,323 | 9,376 | ||||
CRA International Inc. | 103,259 | 9,223 | ||||
Wabash National Corp. | 665,913 | 9,043 | ||||
Insteel Industries Inc. | 265,681 | 8,945 | ||||
Douglas Dynamics Inc. | 309,037 | 8,882 | ||||
* | BlueLinx Holdings Inc. | 130,835 | 8,741 | |||
* | Sterling Infrastructure Inc. | 397,237 | 8,707 | |||
Heartland Express Inc. | 621,793 | 8,649 | ||||
Gorman-Rupp Co. | 305,574 | 8,648 | ||||
Heidrick & Struggles International Inc. | 266,905 | 8,637 | ||||
Resources Connection Inc. | 415,585 | 8,465 | ||||
* | MRC Global Inc. | 831,932 | 8,286 | |||
ACCO Brands Corp. | 1,254,887 | 8,194 | ||||
Pitney Bowes Inc. | 2,255,702 | 8,166 | ||||
*,1 | Blink Charging Co. | 493,955 | 8,165 | |||
*,1 | Energy Vault Holdings Inc. | 808,086 | 8,097 | |||
Shyft Group Inc. | 432,159 | 8,034 | ||||
* | Viad Corp. | 284,538 | 7,856 | |||
* | Sun Country Airlines Holdings Inc. | 418,605 | 7,677 | |||
* | Harsco Corp. | 1,076,464 | 7,654 | |||
* | Franklin Covey Co. | 164,813 | 7,611 | |||
Barrett Business Services Inc. | 104,255 | 7,597 | ||||
Global Industrial Co. | 220,856 | 7,458 | ||||
* | Rocket Lab USA Inc. | 1,956,730 | 7,416 | |||
* | Ducommun Inc. | 171,703 | 7,390 | |||
* | Forrester Research Inc. | 153,966 | 7,366 | |||
* | TrueBlue Inc. | 406,902 | 7,284 | |||
* | DXP Enterprises Inc. | 235,565 | 7,215 | |||
*,1 | Microvast Holdings Inc. | 3,235,942 | 7,184 | |||
Argan Inc. | 192,019 | 7,166 | ||||
* | BrightView Holdings Inc. | 591,179 | 7,094 | |||
* | First Advantage Corp. | 554,429 | 7,025 | |||
* | Janus International Group Inc. | 756,487 | 6,831 | |||
* | Aurora Innovation Inc. | 3,532,447 | 6,747 | |||
* | Thermon Group Holdings Inc. | 472,605 | 6,640 | |||
* | TPI Composites Inc. | 513,767 | 6,422 | |||
Rush Enterprises Inc. Class B | 125,800 | 6,241 | ||||
Ennis Inc. | 303,174 | 6,133 | ||||
* | Titan Machinery Inc. | 272,801 | 6,113 | |||
* | Heritage-Crystal Clean Inc. | 219,044 | 5,905 | |||
* | Vectrus Inc. | 167,672 | 5,610 | |||
*,1 | Desktop Metal Inc. Class A | 2,514,810 | 5,533 | |||
VSE Corp. | 142,668 | 5,361 | ||||
* | Transcat Inc. | 93,662 | 5,321 | |||
* | Daseke Inc. | 818,441 | 5,230 | |||
* | Manitowoc Co. Inc. | 488,184 | 5,141 | |||
*,1 | SES AI Corp. | 1,306,217 | 5,133 | |||
Luxfer Holdings plc | 338,900 | 5,124 | ||||
* | Hyliion Holdings Corp. | 1,564,334 | 5,037 | |||
*,1 | Archer Aviation Inc. Class A | 1,619,708 | 4,989 | |||
1 | Tecnoglass Inc. | 281,421 | 4,939 | |||
REV Group Inc. | 445,605 | 4,844 | ||||
* | Radiant Logistics Inc. | 648,725 | 4,814 | |||
*,1 | Wheels Up Experience Inc. | 2,432,718 | 4,744 |
Shares | Market Value• ($000) | |||||
* | CIRCOR International Inc. | 281,184 | 4,609 | |||
* | Tutor Perini Corp. | 512,208 | 4,497 | |||
* | Babcock & Wilcox Enterprises Inc. | 738,840 | 4,455 | |||
* | Willdan Group Inc. | 160,041 | 4,414 | |||
National Presto Industries Inc. | 66,810 | 4,385 | ||||
*,1 | Fluence Energy Inc. Class A | 460,851 | 4,369 | |||
*,1 | Skillsoft Corp. | 1,239,592 | 4,363 | |||
Omega Flex Inc. | 40,220 | 4,328 | ||||
Aris Water Solution Inc. Class A | 252,491 | 4,212 | ||||
* | HireRight Holdings Corp. | 294,017 | 4,178 | |||
Hyster-Yale Materials Handling Inc. | 127,694 | 4,114 | ||||
Kimball International Inc. Class B | 518,167 | 3,974 | ||||
Covenant Logistics Group Inc. Class A | 149,160 | 3,742 | ||||
* | Northwest Pipe Co. | 123,973 | 3,712 | |||
* | IES Holdings Inc. | 122,362 | 3,692 | |||
* | Custom Truck One Source Inc. | 656,809 | 3,678 | |||
Park Aerospace Corp. | 286,458 | 3,655 | ||||
Allied Motion Technologies Inc. | 159,307 | 3,639 | ||||
*,1 | Frontier Group Holdings Inc. | 388,093 | 3,636 | |||
*,1 | Terran Orbital Corp. | 790,460 | 3,620 | |||
*,1 | Hyzon Motors Inc. | 1,220,210 | 3,587 | |||
* | Astronics Corp. | 348,489 | 3,544 | |||
Miller Industries Inc. | 152,544 | 3,458 | ||||
* | TuSimple Holdings Inc. Class A | 458,864 | 3,318 | |||
* | Hudson Technologies Inc. | 437,171 | 3,283 | |||
* | USA Truck Inc. | 102,838 | 3,231 | |||
* | AerSale Corp. | 222,318 | 3,226 | |||
* | Infrastructure & Energy Alternatives Inc. | 388,713 | 3,121 | |||
* | Alta Equipment Group Inc. | 347,612 | 3,118 | |||
* | Sterling Check Corp. | 191,168 | 3,118 | |||
Powell Industries Inc. | 129,883 | 3,035 | ||||
*,1 | Legalzoom.com Inc. | 265,132 | 2,914 | |||
* | Blade Air Mobility Inc. | 622,531 | 2,777 | |||
Universal Logistics Holdings Inc. | 99,744 | 2,724 | ||||
* | Blue Bird Corp. | 289,116 | 2,663 | |||
* | Red Violet Inc. | 138,369 | 2,635 | |||
* | PAM Transportation Services Inc. | 94,890 | 2,599 | |||
*,1 | Heliogen Inc. | 1,220,351 | 2,575 | |||
* | CECO Environmental Corp. | 427,598 | 2,557 | |||
LSI Industries Inc. | 397,782 | 2,454 | ||||
* | Commercial Vehicle Group Inc. | 402,863 | 2,353 | |||
*,1 | NuScale Power Corp. | 233,915 | 2,337 | |||
* | RCM Technologies Inc. | 113,523 | 2,298 | |||
Hurco Cos. Inc. | 90,386 | 2,236 | ||||
*,1 | Astra Space Inc. | 1,706,484 | 2,218 | |||
*,1 | ESS Tech Inc. | 777,617 | 2,185 | |||
Preformed Line Products Co. | 35,458 | 2,181 | ||||
*,1 | Sarcos Technology & Robotics Corp. | 814,668 | 2,167 | |||
*,1 | Beam Global | 129,186 | 2,005 | |||
Park-Ohio Holdings Corp. | 125,056 | 1,983 | ||||
* | Matrix Service Co. | 390,745 | 1,977 | |||
*,1 | Byrna Technologies Inc. | 227,102 | 1,951 | |||
* | DLH Holdings Corp. | 125,424 | 1,911 | |||
* | American Superconductor Corp. | 363,751 | 1,884 | |||
* | L B Foster Co. Class A | 142,200 | 1,830 | |||
Eastern Co. | 88,795 | 1,806 | ||||
* | Willis Lease Finance Corp. | 47,825 | 1,792 | |||
*,1 | BlackSky Technology Inc. | 754,219 | 1,742 | |||
* | Hydrofarm Holdings Group Inc. | 493,198 | 1,716 | |||
* | Concrete Pumping Holdings Inc. | 281,122 | 1,704 | |||
BGSF Inc. | 136,529 | 1,688 | ||||
*,1 | Markforged Holding Corp. | 911,060 | 1,685 | |||
Cadre Holdings Inc. | 82,941 | 1,631 | ||||
*,1 | BitNile Holdings Inc. | 6,137,810 | 1,630 | |||
*,1 | Spire Global Inc. | 1,358,150 | 1,575 | |||
* | Mistras Group Inc. | 260,690 | 1,549 | |||
*,1 | NN Inc. | 612,157 | 1,549 | |||
* | Performant Financial Corp. | 586,337 | 1,542 | |||
*,1 | Momentus Inc. | 710,581 | 1,535 |
Shares | Market Value• ($000) | |||||
ARC Document Solutions Inc. | 533,380 | 1,403 | ||||
Pangaea Logistics Solutions Ltd. | 275,465 | 1,399 | ||||
* | Gencor Industries Inc. | 137,566 | 1,398 | |||
*,1 | Xos Inc. | 747,681 | 1,376 | |||
* | Yellow Corp. | 458,062 | 1,342 | |||
NL Industries Inc. | 134,360 | 1,326 | ||||
* | Quad/Graphics Inc. | 470,360 | 1,294 | |||
*,1 | Advent Technologies Holdings Inc. | 505,567 | 1,274 | |||
* | Manitex International Inc. | 195,893 | 1,271 | |||
* | Atlas Technical Consultants Inc. Class A | 239,663 | 1,261 | |||
* | Karat Packaging Inc. | 70,978 | 1,211 | |||
* | Twin Disc Inc. | 129,437 | 1,173 | |||
*,1 | KULR Technology Group Inc. | 739,737 | 1,147 | |||
* | Velo3D Inc. | 813,418 | 1,123 | |||
* | INNOVATE Corp. | 616,408 | 1,066 | |||
* | Orion Group Holdings Inc. | 456,467 | 1,041 | |||
* | Hill International Inc. | 616,501 | 1,036 | |||
*,1 | Lightning eMotors Inc. | 372,740 | 1,033 | |||
Graham Corp. | 147,083 | 1,018 | ||||
* | GEE Group Inc. | 1,898,034 | 991 | |||
Acme United Corp. | 30,999 | 982 | ||||
*,1 | FTC Solar Inc. | 271,125 | 981 | |||
* | Mesa Air Group Inc. | 442,324 | 969 | |||
* | Mayville Engineering Co. Inc. | 125,036 | 968 | |||
* | Ideal Power Inc. | 77,902 | 954 | |||
* | US Xpress Enterprises Inc. Class A | 347,528 | 931 | |||
*,1 | Energous Corp. | 926,993 | 927 | |||
* | Orion Energy Systems Inc. | 453,348 | 911 | |||
*,1 | Bird Global Inc. Class A | 1,961,426 | 855 | |||
* | Innovative Solutions & Support Inc. | 118,046 | 850 | |||
* | Quest Resource Holding Corp. | 205,290 | 840 | |||
*,1 | Nuvve Holding Corp. | 177,660 | 831 | |||
*,1 | Aqua Metals Inc. | 989,763 | 801 | |||
*,1 | Berkshire Grey Inc. | 545,737 | 791 | |||
* | Alpha Pro Tech Ltd. | 176,646 | 788 | |||
* | Bowman Consulting Group Ltd. Class A | 61,694 | 761 | |||
* | EVI Industries Inc. | 74,732 | 747 | |||
*,1 | Fathom Digital Manufacturing C | 188,957 | 733 | |||
*,1 | Redwire Corp. | 232,847 | 708 | |||
*,1 | AgEagle Aerial Systems Inc. | 1,079,804 | 698 | |||
* | VirTra Inc. | 139,803 | 688 | |||
* | Mastech Digital Inc. | 46,161 | 686 | |||
* | FreightCar America Inc. | 183,723 | 669 | |||
*,1 | Sunworks Inc. | 419,301 | 663 | |||
*,1 | View Inc. | 406,855 | 659 | |||
* | Perma-Pipe International Holdings Inc. | 72,289 | 651 | |||
*,1 | Eos Energy Enterprises Inc. | 537,466 | 650 | |||
* | Virco Manufacturing Corp. | 152,389 | 587 | |||
* | Limbach Holdings Inc. | 109,220 | 583 | |||
* | Charah Solutions Inc. | 155,260 | 581 | |||
* | Hudson Global Inc. | 18,261 | 573 | |||
* | Romeo Power Inc. | 1,260,601 | 566 | |||
HireQuest Inc. | 39,177 | 552 | ||||
*,1 | Agrify Corp. | 277,822 | 547 | |||
* | Urban-Gro Inc. | 110,909 | 537 | |||
*,1 | Westwater Resources Inc. | 489,140 | 528 | |||
*,1 | Orbital Energy Group Inc. | 831,169 | 523 | |||
* | Perma-Fix Environmental Services Inc. | 99,897 | 518 | |||
* | Ultralife Corp. | 109,767 | 499 | |||
* | Capstone Green Energy Corp. | 192,817 | 476 | |||
* | Fuel Tech Inc. | 347,225 | 431 | |||
*,1 | Ocean Power Technologies Inc. | 752,572 | 424 | |||
* | Broadwind Inc. | 242,181 | 397 | |||
* | Williams Industrial Services Group Inc. | 250,947 | 349 | |||
*,1 | India Globalization Capital Inc. | 629,478 | 334 | |||
* | Team Inc. | 441,525 | 328 | |||
*,1 | Aeroclean Technologies Inc. | 24,787 | 325 | |||
*,1 | Air Industries Group | 452,721 | 317 | |||
* | iSun Inc. | 97,442 | 317 |
Shares | Market Value• ($000) | |||||
* | LS Starrett Co. Class A | 44,215 | 310 | |||
* | Taylor Devices Inc. | 35,698 | 310 | |||
* | SG Blocks Inc. | 183,195 | 306 | |||
*,1 | Odyssey Marine Exploration Inc. Class B | 85,385 | 291 | |||
* | Air T Inc. | 17,055 | 281 | |||
* | Jewett-Cameron Trading Co. Ltd. | 44,541 | 281 | |||
*,1 | Flux Power Holdings Inc. | 107,827 | 259 | |||
* | Servotronics Inc. | 19,402 | 218 | |||
*,1 | Polar Power Inc. | 79,893 | 217 | |||
* | SIFCO Industries Inc. | 59,569 | 185 | |||
* | Sigma Labs Inc. | 135,116 | 173 | |||
* | Pioneer Power Solutions Inc. | 58,157 | 167 | |||
* | HyreCar Inc. | 251,372 | 153 | |||
* | DSS Inc. | 433,041 | 152 | |||
* | Astrotech Corp. | 350,646 | 151 | |||
Mega Matrix Corp. | 106,575 | 145 | ||||
*,1 | Applied UV Inc. | 59,088 | 134 | |||
*,1,2 | FTE Networks Inc. | 82,837 | 124 | |||
*,1 | Shapeways Holdings Inc. | 95,623 | 112 | |||
*,1 | LiqTech International Inc. | 246,351 | 111 | |||
*,1 | Energy Focus Inc. | 81,557 | 106 | |||
*,1 | Wilhelmina International Inc. | 22,778 | 103 | |||
* | JanOne Inc. | 39,400 | 102 | |||
* | ShiftPixy Inc. | 242,808 | 77 | |||
Pineapple Energy Inc. | 30,377 | 71 | ||||
* | Helbiz Inc. | 106,121 | 69 | |||
* | Gaucho Group Holdings Inc. | 107,968 | 65 | |||
* | Espey Manufacturing & Electronics Corp. | 4,426 | 63 | |||
* | FGI Industries Ltd. | 26,156 | 60 | |||
* | P&F Industries Inc. Class A | 9,628 | 55 | |||
* | Sidus Space Inc. Class A | 14,775 | 49 | |||
*,1 | Fast Radius Inc. | 42,731 | 27 | |||
*,2 | Recycling Asset Holdings Inc. | 43,054 | 5 | |||
* | TOMI Environmental Solutions Inc. | 1,535 | 1 | |||
11,013,978 | ||||||
Information Technology (19.5%) | ||||||
* | Palo Alto Networks Inc. | 1,324,515 | 654,231 | |||
Marvell Technology Inc. | 11,376,026 | 495,198 | ||||
* | Crowdstrike Holdings Inc. Class A | 2,869,672 | 483,712 | |||
* | Snowflake Inc. Class A | 3,096,482 | 430,597 | |||
* | Block Inc. Class A | 6,756,558 | 415,258 | |||
* | Workday Inc. Class A | 2,661,052 | 371,430 | |||
* | Zoom Video Communications Inc. Class A | 3,049,584 | 329,264 | |||
* | Datadog Inc. Class A | 3,332,114 | 317,351 | |||
VMware Inc. Class A | 2,705,048 | 308,321 | ||||
* | Trade Desk Inc. Class A | 5,936,065 | 248,662 | |||
* | MongoDB Inc. | 908,068 | 235,644 | |||
* | Palantir Technologies Inc. Class A | 21,958,819 | 199,166 | |||
* | Twilio Inc. Class A | 2,308,208 | 193,451 | |||
* | Splunk Inc. | 2,160,286 | 191,099 | |||
* | Okta Inc. | 2,023,063 | 182,885 | |||
* | HubSpot Inc. | 607,628 | 182,683 | |||
SS&C Technologies Holdings Inc. | 2,976,206 | 172,828 | ||||
Dell Technologies Inc. Class C | 3,672,160 | 169,691 | ||||
Entegris Inc. | 1,813,844 | 167,109 | ||||
* | Cloudflare Inc. Class A | 3,781,348 | 165,434 | |||
* | Zscaler Inc. | 1,076,472 | 160,943 | |||
* | GoDaddy Inc. Class A | 2,169,994 | 150,945 | |||
* | DocuSign Inc. | 2,495,779 | 143,208 | |||
* | Fair Isaac Corp. | 347,808 | 139,436 | |||
* | Black Knight Inc. | 2,094,399 | 136,953 | |||
* | Bill.com Holdings Inc. | 1,160,993 | 127,640 | |||
* | Zendesk Inc. | 1,645,533 | 121,885 | |||
* | Wolfspeed Inc. | 1,664,929 | 105,640 | |||
* | Dynatrace Inc. | 2,636,358 | 103,978 | |||
Cognex Corp. | 2,331,280 | 99,126 | ||||
* | Arrow Electronics Inc. | 873,859 | 97,951 | |||
* | Pure Storage Inc. Class A | 3,781,592 | 97,225 | |||
Jabil Inc. | 1,884,807 | 96,521 |
Shares | Market Value• ($000) | |||||
Genpact Ltd. | 2,272,278 | 96,254 | ||||
* | Manhattan Associates Inc. | 837,649 | 95,995 | |||
* | WEX Inc. | 603,711 | 93,913 | |||
* | Ciena Corp. | 2,046,528 | 93,526 | |||
* | Paylocity Holding Corp. | 534,418 | 93,213 | |||
* | First Solar Inc. | 1,332,564 | 90,788 | |||
* | Lattice Semiconductor Corp. | 1,862,073 | 90,311 | |||
* | Coherent Inc. | 331,105 | 88,147 | |||
CDK Global Inc. | 1,569,386 | 85,955 | ||||
* | Five9 Inc. | 934,937 | 85,210 | |||
Western Union Co. | 5,144,342 | 84,727 | ||||
Littelfuse Inc. | 331,751 | 84,278 | ||||
Bentley Systems Inc. Class B | 2,526,018 | 84,116 | ||||
* | Avalara Inc. | 1,172,133 | 82,753 | |||
* | Unity Software Inc. | 2,218,791 | 81,696 | |||
* | Guidewire Software Inc. | 1,121,158 | 79,591 | |||
* | Sailpoint Technologies Holdings Inc. | 1,265,023 | 79,292 | |||
Concentrix Corp. | 577,954 | 78,394 | ||||
MKS Instruments Inc. | 745,215 | 76,481 | ||||
* | Dropbox Inc. Class A | 3,583,729 | 75,222 | |||
* | Lumentum Holdings Inc. | 934,880 | 74,248 | |||
* | II-VI Inc. | 1,420,068 | 72,352 | |||
* | Mandiant Corp. | 3,235,481 | 70,598 | |||
* | Aspen Technology Inc. | 376,737 | 69,199 | |||
* | Silicon Laboratories Inc. | 492,921 | 69,117 | |||
* | Euronet Worldwide Inc. | 677,505 | 68,150 | |||
* | UiPath Inc. Class A | 3,734,298 | 67,927 | |||
* | Elastic NV | 981,317 | 66,406 | |||
CMC Materials Inc. | 375,534 | 65,527 | ||||
* | ExlService Holdings Inc. | 442,507 | 65,195 | |||
* | Rogers Corp. | 246,724 | 64,664 | |||
* | Vonage Holdings Corp. | 3,367,796 | 63,449 | |||
Switch Inc. Class A | 1,859,704 | 62,300 | ||||
* | Synaptics Inc. | 526,101 | 62,106 | |||
Dolby Laboratories Inc. Class A | 849,832 | 60,814 | ||||
* | RingCentral Inc. Class A | 1,148,404 | 60,016 | |||
Universal Display Corp. | 583,537 | 59,019 | ||||
Power Integrations Inc. | 786,379 | 58,986 | ||||
* | SentinelOne Inc. Class A | 2,499,340 | 58,310 | |||
* | Novanta Inc. | 477,298 | 57,882 | |||
* | Tenable Holdings Inc. | 1,267,068 | 57,538 | |||
* | Coupa Software Inc. | 1,006,311 | 57,460 | |||
* | NCR Corp. | 1,829,528 | 56,917 | |||
* | Qualys Inc. | 445,915 | 56,248 | |||
* | Cirrus Logic Inc. | 770,335 | 55,880 | |||
Avnet Inc. | 1,291,886 | 55,396 | ||||
* | SPS Commerce Inc. | 480,290 | 54,297 | |||
National Instruments Corp. | 1,733,483 | 54,137 | ||||
* | Smartsheet Inc. Class A | 1,709,643 | 53,734 | |||
* | Rapid7 Inc. | 784,459 | 52,402 | |||
Maximus Inc. | 829,358 | 51,843 | ||||
* | Teradata Corp. | 1,391,204 | 51,488 | |||
TD SYNNEX Corp. | 557,375 | 50,777 | ||||
Vontier Corp. | 2,155,956 | 49,565 | ||||
* | Blackline Inc. | 731,267 | 48,702 | |||
* | Box Inc. Class A | 1,913,740 | 48,111 | |||
* | Semtech Corp. | 852,799 | 46,878 | |||
* | Onto Innovation Inc. | 655,719 | 45,730 | |||
* | IPG Photonics Corp. | 473,200 | 44,542 | |||
* | Nutanix Inc. Class A | 3,002,778 | 43,931 | |||
* | Varonis Systems Inc. | 1,489,136 | 43,661 | |||
* | Perficient Inc. | 471,272 | 43,211 | |||
* | Workiva Inc. Class A | 652,131 | 43,034 | |||
* | Toast Inc. Class A | 3,287,675 | 42,543 | |||
* | ACI Worldwide Inc. | 1,559,460 | 40,374 | |||
* | Viavi Solutions Inc. | 3,043,248 | 40,262 | |||
* | FormFactor Inc. | 1,036,954 | 40,161 | |||
* | New Relic Inc. | 801,727 | 40,126 | |||
* | Fabrinet | 494,272 | 40,085 |
Shares | Market Value• ($000) | |||||
*,1 | Affirm Holdings Inc. Class A | 2,215,382 | 40,010 | |||
* | Insight Enterprises Inc. | 461,277 | 39,799 | |||
* | Marqeta Inc. Class A | 4,899,784 | 39,737 | |||
* | Envestnet Inc. | 749,538 | 39,553 | |||
* | Alteryx Inc. Class A | 804,866 | 38,972 | |||
* | Diodes Inc. | 595,345 | 38,441 | |||
* | Alarm.com Holdings Inc. | 612,834 | 37,910 | |||
* | CommVault Systems Inc. | 588,821 | 37,037 | |||
* | Verint Systems Inc. | 868,420 | 36,778 | |||
Advanced Energy Industries Inc. | 503,908 | 36,775 | ||||
* | Confluent Inc. Class A | 1,579,683 | 36,712 | |||
* | Altair Engineering Inc. Class A | 684,461 | 35,934 | |||
* | Blackbaud Inc. | 616,795 | 35,817 | |||
* | Sprout Social Inc. Class A | 608,370 | 35,328 | |||
* | SiTime Corp. | 210,371 | 34,297 | |||
* | Ambarella Inc. | 519,095 | 33,980 | |||
1 | Kulicke & Soffa Industries Inc. | 792,567 | 33,930 | |||
* | Sanmina Corp. | 817,362 | 33,291 | |||
* | NetScout Systems Inc. | 975,849 | 33,032 | |||
* | MaxLinear Inc. Class A | 943,334 | 32,054 | |||
Belden Inc. | 598,745 | 31,895 | ||||
Badger Meter Inc. | 389,455 | 31,503 | ||||
Vishay Intertechnology Inc. | 1,764,032 | 31,435 | ||||
* | Rambus Inc. | 1,448,308 | 31,124 | |||
* | Viasat Inc. | 1,000,834 | 30,656 | |||
* | Itron Inc. | 604,660 | 29,888 | |||
* | Plexus Corp. | 376,658 | 29,568 | |||
* | MACOM Technology Solutions Holdings Inc. | 640,111 | 29,509 | |||
* | Q2 Holdings Inc. | 760,244 | 29,323 | |||
EVERTEC Inc. | 791,178 | 29,179 | ||||
* | Verra Mobility Corp. Class A | 1,707,239 | 26,821 | |||
* | PagerDuty Inc. | 1,080,989 | 26,787 | |||
Pegasystems Inc. | 552,482 | 26,431 | ||||
Progress Software Corp. | 583,476 | 26,431 | ||||
* | Gitlab Inc. Class A | 494,650 | 26,286 | |||
* | Sabre Corp. | 4,359,408 | 25,415 | |||
* | Appian Corp. | 531,723 | 25,182 | |||
* | Appfolio Inc. Class A | 275,086 | 24,934 | |||
* | Calix Inc. | 730,232 | 24,930 | |||
Bread Financial Holdings Inc. | 667,321 | 24,731 | ||||
InterDigital Inc. | 405,644 | 24,663 | ||||
CSG Systems International Inc. | 408,981 | 24,408 | ||||
Xerox Holdings Corp. | 1,636,674 | 24,305 | ||||
* | Axcelis Technologies Inc. | 442,821 | 24,284 | |||
* | Shift4 Payments Inc. Class A | 730,625 | 24,154 | |||
* | nCino Inc. | 770,017 | 23,809 | |||
* | Super Micro Computer Inc. | 588,140 | 23,731 | |||
* | Kyndryl Holdings Inc. | 2,417,977 | 23,648 | |||
* | LiveRamp Holdings Inc. | 908,837 | 23,457 | |||
Amkor Technology Inc. | 1,340,009 | 22,713 | ||||
* | Plantronics Inc. | 569,224 | 22,587 | |||
* | Knowles Corp. | 1,214,727 | 21,051 | |||
1 | Ubiquiti Inc. | 82,874 | 20,570 | |||
* | Digital Turbine Inc. | 1,172,121 | 20,477 | |||
*,1 | MicroStrategy Inc. Class A | 124,023 | 20,377 | |||
Xperi Holding Corp. | 1,393,265 | 20,105 | ||||
* | Asana Inc. Class A | 1,105,030 | 19,426 | |||
* | ePlus Inc. | 362,934 | 19,279 | |||
*,1 | Freshworks Inc. Class A | 1,461,377 | 19,217 | |||
Methode Electronics Inc. | 504,929 | 18,703 | ||||
* | Jamf Holding Corp. | 743,235 | 18,410 | |||
* | E2open Parent Holdings Inc. | 2,357,252 | 18,339 | |||
* | Cohu Inc. | 651,719 | 18,085 | |||
* | Qualtrics International Inc. Class A | 1,433,749 | 17,936 | |||
* | Ultra Clean Holdings Inc. | 600,333 | 17,872 | |||
* | SunPower Corp. | 1,110,521 | 17,557 | |||
*,1 | C3.ai Inc. Class A | 955,499 | 17,447 | |||
* | OSI Systems Inc. | 203,382 | 17,377 | |||
* | TTM Technologies Inc. | 1,382,327 | 17,279 |
Shares | Market Value• ($000) | |||||
* | CommScope Holding Co. Inc. | 2,775,386 | 16,985 | |||
* | Fastly Inc. Class A | 1,443,739 | 16,762 | |||
TTEC Holdings Inc. | 244,063 | 16,569 | ||||
* | 3D Systems Corp. | 1,699,641 | 16,487 | |||
*,1 | AppLovin Corp. Class A | 478,135 | 16,467 | |||
* | Photronics Inc. | 821,238 | 15,998 | |||
* | KnowBe4 Inc. Class A | 1,023,261 | 15,983 | |||
* | Extreme Networks Inc. | 1,731,941 | 15,449 | |||
* | Allegro MicroSystems Inc. | 743,898 | 15,391 | |||
* | Momentive Global Inc. | 1,734,438 | 15,263 | |||
* | Infinera Corp. | 2,836,268 | 15,202 | |||
* | Duck Creek Technologies Inc. | 1,018,839 | 15,130 | |||
* | Evo Payments Inc. Class A | 636,364 | 14,967 | |||
* | Impinj Inc. | 252,295 | 14,802 | |||
* | Everbridge Inc. | 527,921 | 14,724 | |||
CTS Corp. | 431,714 | 14,700 | ||||
* | Ping Identity Holding Corp. | 806,892 | 14,637 | |||
* | PROS Holdings Inc. | 542,988 | 14,243 | |||
* | Zuora Inc. Class A | 1,555,948 | 13,926 | |||
* | Cerence Inc. | 519,093 | 13,097 | |||
* | Veeco Instruments Inc. | 673,095 | 13,058 | |||
* | BigCommerce Holdings Inc. | 800,540 | 12,969 | |||
*,1 | HashiCorp Inc. Class A | 439,873 | 12,950 | |||
* | PAR Technology Corp. | 344,579 | 12,918 | |||
* | Repay Holdings Corp. Class A | 1,000,114 | 12,851 | |||
* | LivePerson Inc. | 895,126 | 12,657 | |||
*,1 | Olo Inc. Class A | 1,275,944 | 12,594 | |||
* | Agilysys Inc. | 265,240 | 12,538 | |||
* | MoneyGram International Inc. | 1,235,854 | 12,359 | |||
* | Avid Technology Inc. | 471,806 | 12,243 | |||
* | Harmonic Inc. | 1,393,526 | 12,082 | |||
ADTRAN Inc. | 660,537 | 11,579 | ||||
A10 Networks Inc. | 805,054 | 11,577 | ||||
* | Digi International Inc. | 471,547 | 11,421 | |||
* | Model N Inc. | 443,064 | 11,334 | |||
* | Paycor HCM Inc. | 431,389 | 11,216 | |||
*,1 | Matterport Inc. | 2,986,941 | 10,932 | |||
* | Unisys Corp. | 908,127 | 10,925 | |||
* | Domo Inc. Class B | 389,718 | 10,834 | |||
*,1 | Samsara Inc. Class A | 959,922 | 10,722 | |||
* | ScanSource Inc. | 341,971 | 10,649 | |||
Benchmark Electronics Inc. | 468,984 | 10,580 | ||||
* | NeoPhotonics Corp. | 669,214 | 10,527 | |||
* | CEVA Inc. | 308,055 | 10,338 | |||
* | Payoneer Global Inc. | 2,637,144 | 10,338 | |||
* | Grid Dynamics Holdings Inc. | 613,861 | 10,325 | |||
* | SMART Global Holdings Inc. | 621,676 | 10,177 | |||
* | Ichor Holdings Ltd. | 383,856 | 9,973 | |||
* | Clearfield Inc. | 153,796 | 9,528 | |||
* | DigitalOcean Holdings Inc. | 229,866 | 9,507 | |||
* | Consensus Cloud Solutions Inc. | 216,764 | 9,468 | |||
* | Alpha & Omega Semiconductor Ltd. | 282,471 | 9,418 | |||
* | Conduent Inc. | 2,179,235 | 9,414 | |||
* | International Money Express Inc. | 453,970 | 9,293 | |||
*,1 | ForgeRock Inc. Class A | 429,378 | 9,197 | |||
*,1 | Lightwave Logic Inc. | 1,373,909 | 8,985 | |||
* | Sumo Logic Inc. | 1,195,896 | 8,957 | |||
* | PDF Solutions Inc. | 402,270 | 8,653 | |||
*,1 | MicroVision Inc. | 2,224,122 | 8,541 | |||
*,1 | Informatica Inc. Class A | 411,188 | 8,540 | |||
* | ACM Research Inc. Class A | 503,076 | 8,467 | |||
* | N-able Inc. | 930,087 | 8,371 | |||
* | Sprinklr Inc. Class A | 811,415 | 8,203 | |||
* | Napco Security Technologies Inc. | 397,809 | 8,191 | |||
*,1 | Mirion Technologies Inc. | 1,420,609 | 8,183 | |||
* | 8x8 Inc. | 1,562,623 | 8,048 | |||
* | Squarespace Inc. Class A | 384,061 | 8,035 | |||
* | FARO Technologies Inc. | 247,907 | 7,643 | |||
* | CCC Intelligent Solutions Holdings Inc. | 829,198 | 7,629 |
Shares | Market Value• ($000) | |||||
* | Paya Holdings Inc. | 1,153,390 | 7,578 | |||
* | Yext Inc. | 1,564,083 | 7,476 | |||
* | I3 Verticals Inc. Class A | 297,403 | 7,441 | |||
*,1 | Marathon Digital Holdings Inc. | 1,371,504 | 7,324 | |||
* | Arlo Technologies Inc. | 1,153,001 | 7,229 | |||
* | NETGEAR Inc. | 389,286 | 7,210 | |||
* | Kimball Electronics Inc. | 352,534 | 7,086 | |||
* | Thoughtworks Holding Inc. | 501,141 | 7,071 | |||
American Software Inc. Class A | 428,796 | 6,929 | ||||
* | Clearwater Analytics Holdings Inc. Class A | 566,847 | 6,825 | |||
Hackett Group Inc. | 359,298 | 6,816 | ||||
*,1 | IonQ Inc. | 1,543,584 | 6,761 | |||
PC Connection Inc. | 147,098 | 6,480 | ||||
* | TaskUS Inc. Class A | 369,083 | 6,223 | |||
SolarWinds Corp. | 602,810 | 6,179 | ||||
* | ChannelAdvisor Corp. | 421,864 | 6,151 | |||
* | nLight Inc. | 597,805 | 6,110 | |||
* | Rackspace Technology Inc. | 840,694 | 6,028 | |||
* | Telos Corp. | 723,001 | 5,842 | |||
*,1 | Corsair Gaming Inc. | 441,379 | 5,795 | |||
* | OneSpan Inc. | 484,289 | 5,763 | |||
*,1 | Tucows Inc. Class A | 129,055 | 5,744 | |||
*,1 | Riot Blockchain Inc. | 1,359,518 | 5,696 | |||
* | Mitek Systems Inc. | 606,711 | 5,606 | |||
*,1 | SmartRent Inc. Class A | 1,220,016 | 5,514 | |||
Cass Information Systems Inc. | 163,074 | 5,512 | ||||
Ebix Inc. | 320,907 | 5,423 | ||||
*,1 | Cyxtera Technologies Inc. | 475,296 | 5,390 | |||
* | Upland Software Inc. | 366,884 | 5,327 | |||
* | Vishay Precision Group Inc. | 180,960 | 5,271 | |||
*,1 | AvePoint Inc. | 1,213,115 | 5,265 | |||
* | Ribbon Communications Inc. | 1,670,678 | 5,079 | |||
* | BTRS Holdings Inc. | 1,009,027 | 5,025 | |||
* | Braze Inc. Class A | 130,794 | 4,739 | |||
*,1 | SEMrush Holdings Inc. Class A | 364,413 | 4,712 | |||
* | Cantaloupe Inc. | 816,617 | 4,573 | |||
*,1 | Core Scientific Inc. | 3,066,951 | 4,570 | |||
* | indie Semiconductor Inc. Class A | 798,404 | 4,551 | |||
*,1 | 908 Devices Inc. | 216,201 | 4,452 | |||
* | Amplitude Inc. Class A | 311,106 | 4,446 | |||
* | Edgio Inc. | 1,833,706 | 4,236 | |||
*,1 | Eastman Kodak Co. | 910,650 | 4,225 | |||
* | Vertex Inc. Class A | 368,976 | 4,180 | |||
*,1 | Cvent Holding Corp. Class A | 898,007 | 4,149 | |||
* | GTY Technology Holdings Inc. | 649,439 | 4,065 | |||
*,1 | SoundHound AI Inc. | 1,511,902 | 4,052 | |||
*,1 | Navitas Semiconductor Corp. | 1,034,364 | 3,993 | |||
* | Aeva Technologies Inc. | 1,272,189 | 3,982 | |||
* | Rigetti Computing Inc. | 1,016,496 | 3,731 | |||
* | DZS Inc. | 225,110 | 3,663 | |||
* | Clear Secure Inc. Class A | 181,759 | 3,635 | |||
* | CyberOptics Corp. | 103,039 | 3,600 | |||
* | Brightcove Inc. | 552,582 | 3,492 | |||
* | Identiv Inc. | 300,298 | 3,477 | |||
*,1 | WM Technology Inc. | 1,030,550 | 3,391 | |||
* | Benefitfocus Inc. | 428,732 | 3,336 | |||
Information Services Group Inc. | 483,446 | 3,268 | ||||
*,1 | Meta Materials Inc. | 3,168,633 | 3,264 | |||
Comtech Telecommunications Corp. | 356,025 | 3,229 | ||||
* | Aviat Networks Inc. | 128,216 | 3,211 | |||
* | AXT Inc. | 544,121 | 3,189 | |||
* | ShotSpotter Inc. | 116,993 | 3,148 | |||
* | CS Disco Inc. | 172,201 | 3,106 | |||
NVE Corp. | 66,509 | 3,101 | ||||
* | MeridianLink Inc. | 184,055 | 3,074 | |||
* | eGain Corp. | 311,555 | 3,038 | |||
* | Credo Technology Group Holding Ltd. | 257,400 | 3,006 | |||
*,1 | Focus Universal Inc. | 256,212 | 2,926 | |||
* | PFSweb Inc. | 236,891 | 2,786 |
Shares | Market Value• ($000) | |||||
*,1 | AEye Inc. | 1,456,343 | 2,782 | |||
*,1 | Atomera Inc. | 293,795 | 2,756 | |||
*,1 | Veritone Inc. | 420,513 | 2,746 | |||
*,1 | Rockley Photonics Holdings Ltd. | 1,237,734 | 2,698 | |||
Bel Fuse Inc. Class B | 169,576 | 2,639 | ||||
* | Rimini Street Inc. | 437,983 | 2,632 | |||
* | Turtle Beach Corp. | 214,938 | 2,629 | |||
*,1 | Digimarc Corp. | 181,621 | 2,568 | |||
*,1 | Akoustis Technologies Inc. | 693,505 | 2,566 | |||
* | Enfusion Inc. Class A | 249,671 | 2,549 | |||
* | Avaya Holdings Corp. | 1,129,709 | 2,531 | |||
* | Luna Innovations Inc. | 432,493 | 2,521 | |||
* | Paymentus Holdings Inc. Class A | 177,545 | 2,374 | |||
* | EverCommerce Inc. | 261,744 | 2,366 | |||
* | Flywire Corp. | 134,154 | 2,365 | |||
* | Aehr Test Systems | 310,269 | 2,327 | |||
*,1 | Ondas Holdings Inc. | 424,177 | 2,286 | |||
* | Cambium Networks Corp. | 151,410 | 2,218 | |||
* | Diebold Nixdorf Inc. | 976,284 | 2,216 | |||
*,1 | Expensify Inc. Class A | 124,376 | 2,213 | |||
* | CoreCard Corp. | 90,397 | 2,207 | |||
Richardson Electronics Ltd. | 148,916 | 2,183 | ||||
* | Intapp Inc. | 148,793 | 2,178 | |||
* | Immersion Corp. | 397,260 | 2,121 | |||
* | CalAmp Corp. | 501,566 | 2,092 | |||
* | AvidXchange Holdings Inc. | 338,125 | 2,076 | |||
*,1 | Cleanspark Inc. | 521,350 | 2,044 | |||
*,1 | Inseego Corp. | 1,056,445 | 1,997 | |||
* | Evolv Technologies Holdings Inc. | 750,671 | 1,997 | |||
* | Couchbase Inc. | 119,170 | 1,957 | |||
* | KVH Industries Inc. | 220,466 | 1,918 | |||
* | Casa Systems Inc. | 487,239 | 1,915 | |||
* | ServiceSource International Inc. | 1,286,404 | 1,891 | |||
* | Genasys Inc. | 539,552 | 1,754 | |||
* | Lantronix Inc. | 321,313 | 1,729 | |||
* | Iteris Inc. | 594,898 | 1,719 | |||
* | Daktronics Inc. | 569,171 | 1,713 | |||
*,1 | Cerberus Cyber Sentinel Corp. | 452,724 | 1,630 | |||
* | Intevac Inc. | 335,609 | 1,624 | |||
* | Smith Micro Software Inc. | 654,525 | 1,617 | |||
*,1 | Transphorm Inc. | 420,844 | 1,603 | |||
* | Computer Task Group Inc. | 186,210 | 1,594 | |||
*,1 | Ouster Inc. | 982,567 | 1,592 | |||
*,1 | AgileThought Inc. Class A | 305,314 | 1,578 | |||
*,1 | Dave Inc. | 2,249,990 | 1,548 | |||
* | SecureWorks Corp. Class A | 136,531 | 1,483 | |||
* | EMCORE Corp. | 476,440 | 1,463 | |||
* | Innodata Inc. | 295,732 | 1,431 | |||
*,1 | Alpine 4 Holdings Inc. | 2,009,576 | 1,426 | |||
*,1 | Latch Inc. | 1,230,861 | 1,403 | |||
* | Embark Technology Inc. | 2,709,422 | 1,369 | |||
* | Synchronoss Technologies Inc. | 1,182,868 | 1,360 | |||
*,1 | Zeta Global Holdings Corp. Class A | 300,457 | 1,358 | |||
* | QuickLogic Corp. | 157,615 | 1,337 | |||
* | Amtech Systems Inc. | 181,247 | 1,323 | |||
* | Pixelworks Inc. | 670,552 | 1,281 | |||
* | Velodyne Lidar Inc. | 1,322,007 | 1,263 | |||
* | Asure Software Inc. | 218,983 | 1,247 | |||
* | Airgain Inc. | 152,031 | 1,234 | |||
*,1 | Kopin Corp. | 1,069,064 | 1,197 | |||
*,1 | Phunware Inc. | 1,095,846 | 1,184 | |||
*,1 | Airspan Networks Holdings Inc. | 393,381 | 1,176 | |||
* | ON24 Inc. | 122,769 | 1,165 | |||
* | Powerfleet Inc. | 535,648 | 1,162 | |||
* | PCTEL Inc. | 275,624 | 1,127 | |||
*,1 | IronNet Inc. | 506,050 | 1,118 | |||
* | Everspin Technologies Inc. | 213,096 | 1,117 | |||
* | VirnetX Holding Corp. | 904,272 | 1,058 | |||
* | inTEST Corp. | 148,143 | 1,010 |
Shares | Market Value• ($000) | |||||
* | Priority Technology Holdings Inc. | 298,954 | 987 | |||
*,1 | CompoSecure Inc. | 188,652 | 981 | |||
* | AstroNova Inc. | 81,242 | 973 | |||
* | Viant Technology Inc. Class A | 188,194 | 956 | |||
* | SRAX Inc. Class A | 286,040 | 950 | |||
Wayside Technology Group Inc. | 28,246 | 939 | ||||
* | Quantum Corp. | 645,327 | 916 | |||
* | Issuer Direct Corp. | 34,223 | 871 | |||
*,1 | MICT Inc. | 1,530,039 | 870 | |||
* | Park City Group Inc. | 193,141 | 850 | |||
*,1 | BM Technologies Inc. | 144,161 | 849 | |||
*,1 | Rekor Systems Inc. | 470,915 | 829 | |||
* | CPI Card Group Inc. | 48,983 | 823 | |||
* | LGL Group Inc. | 63,106 | 819 | |||
*,1 | Cipher Mining Inc. | 572,553 | 784 | |||
*,1 | Red Cat Holdings Inc. | 381,770 | 779 | |||
* | GSI Technology Inc. | 219,225 | 756 | |||
*,1 | Paysign Inc. | 495,746 | 754 | |||
* | Steel Connect Inc. | 526,873 | 706 | |||
*,1 | Inuvo Inc. | 1,409,054 | 697 | |||
*,1 | Blend Labs Inc. Class A | 288,782 | 682 | |||
* | LiveVox Holdings Inc. | 407,815 | 677 | |||
* | Key Tronic Corp. | 152,801 | 674 | |||
* | One Stop Systems Inc. | 167,844 | 661 | |||
* | Quantum Computing Inc. | 276,738 | 659 | |||
* | Frequency Electronics Inc. | 89,424 | 653 | |||
* | Research Frontiers Inc. | 360,890 | 628 | |||
*,1 | Wrap Technologies Inc. | 337,522 | 628 | |||
*,1 | NextNav Inc. | 275,380 | 625 | |||
*,1 | Intrusion Inc. | 157,429 | 616 | |||
* | NetSol Technologies Inc. | 188,228 | 599 | |||
*,1 | eMagin Corp. | 904,971 | 588 | |||
*,1 | SkyWater Technology Inc. | 96,677 | 582 | |||
* | ALJ Regional Holdings Inc. | 298,666 | 576 | |||
* | Usio Inc. | 234,074 | 569 | |||
* | RF Industries Ltd. | 89,809 | 557 | |||
*,1 | Ipsidy Inc. | 281,693 | 546 | |||
* | ClearSign Technologies Corp. | 448,479 | 543 | |||
*,1 | Applied Optoelectronics Inc. | 348,449 | 540 | |||
*,1 | Exela Technologies Inc. | 4,715,065 | 539 | |||
* | CSP Inc. | 58,049 | 528 | |||
*,1 | Digital Ally Inc. | 646,697 | 512 | |||
* | Backblaze Inc. Class A | 96,150 | 503 | |||
* | TESSCO Technologies Inc. | 84,807 | 501 | |||
* | Terawulf Inc. | 414,269 | 497 | |||
* | Intellicheck Inc. | 242,030 | 489 | |||
*,1 | Soluna Holdings Inc. | 118,915 | 484 | |||
* | Arteris Inc. | 69,377 | 484 | |||
* | TransAct Technologies Inc. | 118,240 | 478 | |||
*,1 | Boxlight Corp. Class A | 701,328 | 477 | |||
* | AudioEye Inc. | 77,855 | 468 | |||
* | Franklin Wireless Corp. | 144,813 | 468 | |||
* | StarTek Inc. | 160,783 | 465 | |||
*,1 | LightPath Technologies Inc. Class A | 369,197 | 454 | |||
* | Aware Inc. | 182,226 | 434 | |||
*,1 | CPS Technologies Corp. | 139,869 | 425 | |||
* | Kaltura Inc. | 212,785 | 423 | |||
* | Neonode Inc. | 79,508 | 407 | |||
* | Data I/O Corp. | 131,381 | 403 | |||
*,1 | Vislink Technologies Inc. | 667,529 | 397 | |||
*,1 | Cepton Inc. | 249,600 | 389 | |||
Autoscope Technologies Corp. | 70,421 | 384 | ||||
* | SigmaTron International Inc. | 54,207 | 383 | |||
*,1 | Verb Technology Co. Inc. | 727,515 | 380 | |||
* | Optical Cable Corp. | 101,217 | 365 | |||
*,1 | SeaChange International Inc. | 562,926 | 340 | |||
*,1 | Marin Software Inc. | 201,926 | 333 | |||
* | Wireless Telecom Group Inc. | 248,831 | 328 | |||
* | Electro-Sensors Inc. | 53,093 | 321 |
Shares | Market Value• ($000) | |||||
* | GSE Systems Inc. | 255,595 | 319 | |||
* | Greenidge Generation Holdings Inc. | 123,184 | 313 | |||
*,1 | Inpixon | 1,830,210 | 311 | |||
* | RealNetworks Inc. | 451,582 | 285 | |||
* | Quanergy Systems Inc. | 675,700 | 277 | |||
* | CVD Equipment Corp. | 68,503 | 271 | |||
* | WidePoint Corp. | 112,347 | 269 | |||
*,1 | GreenBox POS | 241,671 | 254 | |||
* | BSQUARE Corp. | 189,335 | 239 | |||
*,1 | Coda Octopus Group Inc. | 45,235 | 226 | |||
*,1 | Bio-key International Inc. | 118,874 | 210 | |||
* | Qumu Corp. | 258,434 | 208 | |||
* | Research Solutions Inc. | 116,162 | 206 | |||
*,1 | VerifyMe Inc. | 104,906 | 206 | |||
* | Socket Mobile Inc. | 66,909 | 203 | |||
*,1 | American Virtual Cloud Technologies Inc. | 761,065 | 190 | |||
* | Peraso Inc. | 96,589 | 185 | |||
* | TSR Inc. | 23,470 | 175 | |||
*,1 | Universal Security Instruments Inc. | 45,910 | 166 | |||
* | Trio-Tech International | 37,821 | 164 | |||
*,1 | Stronghold Digital Mining Inc. Class A | 96,856 | 161 | |||
* | AmpliTech Group Inc. | 66,272 | 134 | |||
* | BTCS Inc. | 87,691 | 131 | |||
* | Bridgeline Digital Inc. | 106,529 | 128 | |||
* | Alfi Inc. | 108,022 | 125 | |||
SilverSun Technologies Inc. | 44,830 | 121 | ||||
* | Glimpse Group Inc. | 30,269 | 120 | |||
* | OLB Group Inc. | 112,607 | 99 | |||
*,1 | Data Storage Corp. | 39,506 | 97 | |||
*,1 | ComSovereign Holding Corp. | 556,676 | 94 | |||
* | DatChat Inc. | 86,875 | 94 | |||
* | WiSA Technologies Inc. | 134,717 | 84 | |||
* | Cemtrex Inc. | 244,785 | 71 | |||
* | ClearOne Inc. | 114,463 | 62 | |||
* | Auddia Inc. | 71,444 | 62 | |||
Crexendo Inc. | 18,473 | 57 | ||||
Bel Fuse Inc. Class A | 2,346 | 51 | ||||
* | ADDvantage Technologies Group Inc. | 40,013 | 50 | |||
*,1 | Akerna Corp. | 296,793 | 41 | |||
* | Blackboxstocks Inc. | 26,607 | 39 | |||
* | CYNGN Inc. | 32,519 | 37 | |||
* | Duos Technologies Group Inc. | 8,483 | 32 | |||
* | Kaspien Holdings Inc. | 12,336 | 29 | |||
* | WaveDancer Inc. | 19,301 | 26 | |||
*,2 | SRAX Inc. | 284,252 | 20 | |||
* | Sono-Tek Corp. | 1,196 | 9 | |||
* | Sonim Technologies Inc. | 6,530 | 4 | |||
15,138,747 | ||||||
Materials (4.3%) | ||||||
Steel Dynamics Inc. | 2,405,254 | 159,108 | ||||
Crown Holdings Inc. | 1,647,300 | 151,832 | ||||
Reliance Steel & Aluminum Co. | 827,637 | 140,582 | ||||
RPM International Inc. | 1,726,331 | 135,897 | ||||
Alcoa Corp. | 2,480,511 | 113,062 | ||||
* | Cleveland-Cliffs Inc. | 6,409,190 | 98,509 | |||
* | Berry Global Group Inc. | 1,736,470 | 94,881 | |||
Royal Gold Inc. | 882,117 | 94,192 | ||||
AptarGroup Inc. | 884,052 | 91,243 | ||||
Olin Corp. | 1,865,614 | 86,341 | ||||
Graphic Packaging Holding Co. | 3,797,995 | 77,859 | ||||
Huntsman Corp. | 2,657,305 | 75,335 | ||||
Sonoco Products Co. | 1,294,603 | 73,844 | ||||
Ashland Global Holdings Inc. | 679,124 | 69,984 | ||||
Valvoline Inc. | 2,374,199 | 68,448 | ||||
Chemours Co. | 2,071,095 | 66,316 | ||||
United States Steel Corp. | 3,494,888 | 62,593 | ||||
* | Axalta Coating Systems Ltd. | 2,780,023 | 61,466 | |||
Eagle Materials Inc. | 532,643 | 58,559 | ||||
Louisiana-Pacific Corp. | 1,098,086 | 57,551 |
Shares | Market Value• ($000) | |||||
Balchem Corp. | 431,534 | 55,987 | ||||
Commercial Metals Co. | 1,616,996 | 53,523 | ||||
Element Solutions Inc. | 2,931,118 | 52,174 | ||||
Avient Corp. | 1,220,024 | 48,899 | ||||
* | Livent Corp. | 2,152,030 | 48,830 | |||
Cabot Corp. | 749,848 | 47,833 | ||||
Silgan Holdings Inc. | 1,127,688 | 46,630 | ||||
Sensient Technologies Corp. | 555,489 | 44,750 | ||||
Westlake Corp. | 446,619 | 43,778 | ||||
Scotts Miracle-Gro Co. | 545,673 | 43,103 | ||||
HB Fuller Co. | 712,853 | 42,921 | ||||
* | Arconic Corp. | 1,420,783 | 39,853 | |||
* | Allegheny Technologies Inc. | 1,640,394 | 37,253 | |||
* | Summit Materials Inc. Class A | 1,575,848 | 36,701 | |||
* | Ingevity Corp. | 523,118 | 33,030 | |||
* | MP Materials Corp. | 997,879 | 32,012 | |||
Innospec Inc. | 325,736 | 31,202 | ||||
*,1 | Ginkgo Bioworks Holdings Inc. | 13,072,556 | 31,113 | |||
Alpha Metallurgical Resources Inc. | 233,683 | 30,175 | ||||
* | O-I Glass Inc. | 2,084,851 | 29,188 | |||
Stepan Co. | 284,668 | 28,851 | ||||
Hecla Mining Co. | 7,194,352 | 28,202 | ||||
Minerals Technologies Inc. | 443,935 | 27,231 | ||||
Greif Inc. Class A | 428,643 | 26,739 | ||||
Quaker Chemical Corp. | 178,818 | 26,737 | ||||
NewMarket Corp. | 87,806 | 26,426 | ||||
Tronox Holdings plc Class A | 1,516,699 | 25,481 | ||||
* | GCP Applied Technologies Inc. | 683,686 | 21,386 | |||
Warrior Met Coal Inc. | 683,812 | 20,931 | ||||
Materion Corp. | 272,929 | 20,123 | ||||
Worthington Industries Inc. | 427,626 | 18,858 | ||||
Trinseo plc | 483,902 | 18,611 | ||||
Carpenter Technology Corp. | 650,888 | 18,166 | ||||
Kaiser Aluminum Corp. | 210,704 | 16,665 | ||||
Compass Minerals International Inc. | 457,617 | 16,195 | ||||
TriMas Corp. | 575,137 | 15,926 | ||||
Sylvamo Corp. | 479,153 | 15,659 | ||||
AdvanSix Inc. | 379,656 | 12,696 | ||||
Orion Engineered Carbons SA | 814,165 | 12,644 | ||||
* | Coeur Mining Inc. | 3,878,684 | 11,791 | |||
Schnitzer Steel Industries Inc. Class A | 343,770 | 11,289 | ||||
Myers Industries Inc. | 482,778 | 10,974 | ||||
Schweitzer-Mauduit International Inc. | 422,517 | 10,614 | ||||
*,1 | PureCycle Technologies Inc. | 1,423,696 | 10,564 | |||
* | TimkenSteel Corp. | 556,254 | 10,407 | |||
Hawkins Inc. | 263,558 | 9,496 | ||||
*,1 | Piedmont Lithium Inc. | 250,383 | 9,116 | |||
American Vanguard Corp. | 373,322 | 8,344 | ||||
*,1 | Origin Materials Inc. | 1,613,695 | 8,262 | |||
* | Resolute Forest Products Inc. | 626,671 | 7,996 | |||
Chase Corp. | 101,663 | 7,910 | ||||
* | Clearwater Paper Corp. | 234,888 | 7,899 | |||
Neenah Inc. | 223,789 | 7,640 | ||||
SunCoke Energy Inc. | 1,075,976 | 7,327 | ||||
Mercer International Inc. | 554,340 | 7,290 | ||||
Ecovyst Inc. | 737,507 | 7,264 | ||||
Koppers Holdings Inc. | 303,379 | 6,868 | ||||
Haynes International Inc. | 178,613 | 5,853 | ||||
* | Intrepid Potash Inc. | 127,677 | 5,782 | |||
* | LSB Industries Inc. | 411,095 | 5,698 | |||
Pactiv Evergreen Inc. | 567,255 | 5,650 | ||||
Kronos Worldwide Inc. | 294,982 | 5,428 | ||||
*,1 | Danimer Scientific Inc. | 1,145,455 | 5,223 | |||
* | Century Aluminum Co. | 681,218 | 5,021 | |||
*,1 | Amyris Inc. | 2,618,256 | 4,844 | |||
Ryerson Holding Corp. | 218,026 | 4,642 | ||||
*,1 | 5E Advanced Materials Inc. | 379,805 | 4,626 | |||
* | Diversey Holdings Ltd. | 648,292 | 4,279 | |||
Glatfelter Corp. | 601,421 | 4,138 |
Shares | Market Value• ($000) | |||||
* | Ranpak Holdings Corp. Class A | 542,439 | 3,797 | |||
Tredegar Corp. | 361,818 | 3,618 | ||||
Olympic Steel Inc. | 134,910 | 3,474 | ||||
*,1 | Aspen Aerogels Inc. | 334,951 | 3,309 | |||
FutureFuel Corp. | 378,631 | 2,756 | ||||
United States Lime & Minerals Inc. | 22,733 | 2,401 | ||||
* | Rayonier Advanced Materials Inc. | 870,744 | 2,281 | |||
* | Hycroft Mining Holding Corp. Class A | 1,842,144 | 2,045 | |||
* | McEwen Mining Inc. | 4,633,641 | 2,035 | |||
Ramaco Resources Inc. | 141,138 | 1,856 | ||||
Gold Resource Corp. | 1,129,590 | 1,841 | ||||
*,1 | Gatos Silver Inc. | 612,497 | 1,758 | |||
* | Marrone Bio Innovations Inc. | 1,424,715 | 1,653 | |||
* | Synalloy Corp. | 114,447 | 1,609 | |||
*,1 | Idaho Strategic Resources Inc. | 177,938 | 1,400 | |||
* | Advanced Emissions Solutions Inc. | 280,196 | 1,314 | |||
*,1 | Loop Industries Inc. | 332,003 | 1,288 | |||
*,1 | Flotek Industries Inc. | 940,861 | 933 | |||
* | Core Molding Technologies Inc. | 97,729 | 898 | |||
* | Universal Stainless & Alloy Products Inc. | 113,585 | 841 | |||
Northern Technologies International Corp. | 89,504 | 837 | ||||
* | Smith-Midland Corp. | 58,159 | 814 | |||
* | AgroFresh Solutions Inc. | 393,836 | 705 | |||
Friedman Industries Inc. | 85,667 | 697 | ||||
* | Ampco-Pittsburgh Corp. | 158,635 | 614 | |||
*,1 | Golden Minerals Co. | 1,362,026 | 487 | |||
* | United States Antimony Corp. | 1,197,293 | 484 | |||
* | Cryptyde Inc. | 232,534 | 472 | |||
* | Solitario Zinc Corp. | 784,751 | 447 | |||
* | Comstock Inc. | 598,635 | 371 | |||
* | Zymergen Inc. | 228,875 | 281 | |||
* | US Gold Corp. | 48,538 | 201 | |||
* | Crown ElectroKinetics Corp. | 173,237 | 158 | |||
* | Paramount Gold Nevada Corp. | 339,615 | 149 | |||
*,2 | F-star Therapeutics Inc. CVR | 40,838 | 3 | |||
*,2 | Ikonics Corp. CVR | 12,227 | — | |||
3,334,146 | ||||||
Other (0.0%)3 | ||||||
*,2 | Biosante Pharmaceutical Inc. CVR | 44,795 | — | |||
Real Estate (7.6%) | ||||||
Invitation Homes Inc. | 8,101,447 | 288,249 | ||||
Sun Communities Inc. | 1,617,231 | 257,722 | ||||
WP Carey Inc. | 2,582,037 | 213,948 | ||||
Equity LifeStyle Properties Inc. | 2,310,654 | 162,832 | ||||
Gaming & Leisure Properties Inc. | 3,161,381 | 144,981 | ||||
American Homes 4 Rent Class A | 3,968,250 | 140,635 | ||||
CubeSmart | 2,999,072 | 128,120 | ||||
Rexford Industrial Realty Inc. | 2,206,837 | 127,092 | ||||
Life Storage Inc. | 1,125,530 | 125,677 | ||||
Medical Properties Trust Inc. | 8,042,494 | 122,809 | ||||
American Campus Communities Inc. | 1,876,837 | 121,000 | ||||
* | Jones Lang LaSalle Inc. | 656,407 | 114,779 | |||
Americold Realty Trust Inc. | 3,598,827 | 108,109 | ||||
Lamar Advertising Co. Class A | 1,170,776 | 102,993 | ||||
National Retail Properties Inc. | 2,365,908 | 101,734 | ||||
Omega Healthcare Investors Inc. | 3,161,425 | 89,121 | ||||
Apartment Income REIT Corp. Class A | 2,114,051 | 87,945 | ||||
STORE Capital Corp. | 3,360,847 | 87,651 | ||||
EastGroup Properties Inc. | 557,124 | 85,981 | ||||
Healthcare Trust of America Inc. Class A | 3,050,820 | 85,148 | ||||
First Industrial Realty Trust Inc. | 1,758,312 | 83,485 | ||||
Brixmor Property Group Inc. | 4,012,741 | 81,097 | ||||
STAG Industrial Inc. | 2,399,821 | 74,106 | ||||
Kilroy Realty Corp. | 1,414,073 | 73,998 | ||||
Rayonier Inc. | 1,962,331 | 73,352 | ||||
Agree Realty Corp. | 995,576 | 71,811 | ||||
* | Zillow Group Inc. Class C | 2,168,119 | 68,838 | |||
Spirit Realty Capital Inc. | 1,785,144 | 67,443 |
Shares | Market Value• ($000) | |||||
Independence Realty Trust Inc. | 2,938,284 | 60,911 | ||||
Cousins Properties Inc. | 2,009,412 | 58,735 | ||||
Terreno Realty Corp. | 1,015,935 | 56,618 | ||||
National Storage Affiliates Trust | 1,127,966 | 56,477 | ||||
* | Ryman Hospitality Properties Inc. | 735,122 | 55,891 | |||
Healthcare Realty Trust Inc. | 2,040,064 | 55,490 | ||||
Physicians Realty Trust | 3,044,876 | 53,133 | ||||
Douglas Emmett Inc. | 2,366,717 | 52,967 | ||||
Kite Realty Group Trust | 2,932,088 | 50,696 | ||||
1 | Phillips Edison & Co. Inc. | 1,504,867 | 50,278 | |||
PS Business Parks Inc. | 266,391 | 49,855 | ||||
Highwoods Properties Inc. | 1,399,875 | 47,862 | ||||
Broadstone Net Lease Inc. | 2,315,087 | 47,482 | ||||
EPR Properties | 1,006,742 | 47,246 | ||||
Sabra Health Care REIT Inc. | 3,044,811 | 42,536 | ||||
Park Hotels & Resorts Inc. | 3,088,663 | 41,913 | ||||
Innovative Industrial Properties Inc. | 379,367 | 41,681 | ||||
Apple Hospitality REIT Inc. | 2,829,675 | 41,511 | ||||
* | Equity Commonwealth | 1,483,387 | 40,838 | |||
PotlatchDeltic Corp. | 920,767 | 40,689 | ||||
LXP Industrial Trust | 3,754,873 | 40,327 | ||||
SL Green Realty Corp. | 863,172 | 39,835 | ||||
* | DigitalBridge Group Inc. | 8,151,816 | 39,781 | |||
Corporate Office Properties Trust | 1,505,708 | 39,434 | ||||
Essential Properties Realty Trust Inc. | 1,773,511 | 38,113 | ||||
National Health Investors Inc. | 611,012 | 37,033 | ||||
* | Howard Hughes Corp. | 518,106 | 35,257 | |||
JBG SMITH Properties | 1,466,984 | 34,680 | ||||
Outfront Media Inc. | 1,936,752 | 32,828 | ||||
SITE Centers Corp. | 2,396,332 | 32,279 | ||||
* | Cushman & Wakefield plc | 2,010,553 | 30,641 | |||
Kennedy-Wilson Holdings Inc. | 1,613,578 | 30,561 | ||||
Uniti Group Inc. | 3,151,203 | 29,684 | ||||
Hudson Pacific Properties Inc. | 1,958,123 | 29,059 | ||||
Pebblebrook Hotel Trust | 1,753,163 | 29,050 | ||||
* | Sunstone Hotel Investors Inc. | 2,927,335 | 29,039 | |||
Four Corners Property Trust Inc. | 1,042,457 | 27,719 | ||||
Retail Opportunity Investments Corp. | 1,609,996 | 25,406 | ||||
*,1 | Opendoor Technologies Inc. | 5,273,875 | 24,840 | |||
Macerich Co. | 2,840,076 | 24,737 | ||||
RLJ Lodging Trust | 2,232,886 | 24,629 | ||||
Washington REIT | 1,131,590 | 24,114 | ||||
CareTrust REIT Inc. | 1,303,953 | 24,045 | ||||
Easterly Government Properties Inc. Class A | 1,248,058 | 23,763 | ||||
InvenTrust Properties Corp. | 911,836 | 23,516 | ||||
* | DiamondRock Hospitality Co. | 2,826,640 | 23,207 | |||
Urban Edge Properties | 1,472,744 | 22,400 | ||||
* | Xenia Hotels & Resorts Inc. | 1,541,428 | 22,397 | |||
Piedmont Office Realty Trust Inc. Class A | 1,677,684 | 22,011 | ||||
Brandywine Realty Trust | 2,280,159 | 21,981 | ||||
American Assets Trust Inc. | 706,160 | 20,973 | ||||
Acadia Realty Trust | 1,306,543 | 20,408 | ||||
LTC Properties Inc. | 524,948 | 20,153 | ||||
Newmark Group Inc. Class A | 2,056,110 | 19,883 | ||||
Tanger Factory Outlet Centers Inc. | 1,396,884 | 19,864 | ||||
Global Net Lease Inc. | 1,373,430 | 19,448 | ||||
NexPoint Residential Trust Inc. | 307,037 | 19,193 | ||||
St. Joe Co. | 444,072 | 17,567 | ||||
Alexander & Baldwin Inc. | 966,360 | 17,346 | ||||
* | Zillow Group Inc. Class A | 526,435 | 16,746 | |||
Centerspace | 200,714 | 16,368 | ||||
iStar Inc. | 1,155,157 | 15,837 | ||||
Paramount Group Inc. | 2,177,429 | 15,743 | ||||
* | Anywhere Real Estate Inc. | 1,567,018 | 15,404 | |||
*,1 | WeWork Inc. | 2,845,686 | 14,285 | |||
* | Veris Residential Inc. | 1,070,044 | 14,167 | |||
Getty Realty Corp. | 534,104 | 14,154 | ||||
UMH Properties Inc. | 780,484 | 13,783 | ||||
Empire State Realty Trust Inc. Class A | 1,911,819 | 13,440 |
Shares | Market Value• ($000) | |||||
* | Apartment Investment & Management Co. Class A | 2,095,019 | 13,408 | |||
Office Properties Income Trust | 662,663 | 13,220 | ||||
NETSTREIT Corp. | 681,265 | 12,855 | ||||
Marcus & Millichap Inc. | 339,471 | 12,557 | ||||
Industrial Logistics Properties Trust | 882,633 | 12,427 | ||||
Necessity Retail REIT Inc. Class A | 1,672,888 | 12,179 | ||||
Gladstone Commercial Corp. | 634,114 | 11,947 | ||||
Community Healthcare Trust Inc. | 326,873 | 11,836 | ||||
* | Redfin Corp. | 1,424,536 | 11,738 | |||
Service Properties Trust | 2,220,402 | 11,613 | ||||
Armada Hoffler Properties Inc. | 895,488 | 11,498 | ||||
RPT Realty | 1,146,264 | 11,268 | ||||
Plymouth Industrial REIT Inc. | 625,649 | 10,974 | ||||
* | Summit Hotel Properties Inc. | 1,468,265 | 10,674 | |||
1 | eXp World Holdings Inc. | 891,658 | 10,495 | |||
Bluerock Residential Growth REIT Inc. Class A | 360,954 | 9,489 | ||||
Gladstone Land Corp. | 425,911 | 9,438 | ||||
Global Medical REIT Inc. | 824,203 | 9,256 | ||||
Universal Health Realty Income Trust | 165,697 | 8,817 | ||||
Saul Centers Inc. | 181,228 | 8,538 | ||||
Orion Office REIT Inc. | 764,421 | 8,378 | ||||
City Office REIT Inc. | 587,254 | 7,605 | ||||
Urstadt Biddle Properties Inc. Class A | 462,061 | 7,485 | ||||
Whitestone REIT | 663,788 | 7,136 | ||||
CatchMark Timber Trust Inc. Class A | 706,708 | 7,109 | ||||
* | Chatham Lodging Trust | 676,266 | 7,067 | |||
Safehold Inc. | 192,085 | 6,794 | ||||
Alexander's Inc. | 29,793 | 6,619 | ||||
RMR Group Inc. Class A | 222,608 | 6,311 | ||||
Diversified Healthcare Trust | 3,285,108 | 5,979 | ||||
One Liberty Properties Inc. | 226,049 | 5,873 | ||||
RE/MAX Holdings Inc. Class A | 235,412 | 5,772 | ||||
* | FRP Holdings Inc. | 92,654 | 5,592 | |||
Farmland Partners Inc. | 393,633 | 5,432 | ||||
Franklin Street Properties Corp. | 1,277,010 | 5,325 | ||||
Indus Realty Trust Inc. | 89,466 | 5,311 | ||||
* | Tejon Ranch Co. | 335,369 | 5,205 | |||
CTO Realty Growth Inc. | 83,855 | 5,125 | ||||
Cedar Realty Trust Inc. | 173,818 | 5,004 | ||||
* | Hersha Hospitality Trust Class A | 456,664 | 4,480 | |||
Douglas Elliman Inc. | 873,780 | 4,185 | ||||
* | Forestar Group Inc. | 259,283 | 3,550 | |||
BRT Apartments Corp. | 161,953 | 3,480 | ||||
Braemar Hotels & Resorts Inc. | 779,361 | 3,343 | ||||
Postal Realty Trust Inc. Class A | 223,245 | 3,326 | ||||
* | Stratus Properties Inc. | 96,387 | 3,106 | |||
Alpine Income Property Trust Inc. | 153,116 | 2,744 | ||||
* | Ashford Hospitality Trust Inc. | 446,083 | 2,668 | |||
* | Seritage Growth Properties Class A | 504,395 | 2,628 | |||
*,1 | Doma Holdings Inc. | 2,416,616 | 2,489 | |||
*,1 | Offerpad Solutions Inc. | 969,559 | 2,114 | |||
Clipper Realty Inc. | 217,586 | 1,680 | ||||
* | Altisource Portfolio Solutions SA | 126,246 | 1,356 | |||
Creative Media & Community Trust Corp. | 186,383 | 1,323 | ||||
* | Transcontinental Realty Investors Inc. | 22,463 | 894 | |||
New York City REIT Inc. Class A | 160,831 | 844 | ||||
* | Maui Land & Pineapple Co. Inc. | 87,398 | 828 | |||
* | AMREP Corp. | 56,416 | 633 | |||
*,1 | Fathom Holdings Inc. | 76,269 | 598 | |||
1 | CorEnergy Infrastructure Trust Inc. | 234,079 | 590 | |||
Global Self Storage Inc. | 79,508 | 448 | ||||
* | Power REIT | 33,413 | 425 | |||
* | Sotherly Hotels Inc. | 218,019 | 379 | |||
* | Wheeler REIT Inc. | 146,044 | 371 | |||
* | Trinity Place Holdings Inc. | 313,786 | 317 | |||
* | Rafael Holdings Inc. Class B | 147,508 | 276 | |||
* | InterGroup Corp. | 6,187 | 260 | |||
* | Comstock Holding Cos. Inc. Class A | 52,273 | 236 | |||
*,1 | Pennsylvania REIT | 61,219 | 205 |
Shares | Market Value• ($000) | |||||
*,2 | Spirit MTA REIT | 653,668 | 175 | |||
InnSuites Hospitality Trust | 51,296 | 148 | ||||
* | Alset EHome International Inc. | 432,045 | 127 | |||
5,884,168 | ||||||
Utilities (2.6%) | ||||||
* | PG&E Corp. | 20,216,375 | 201,759 | |||
Essential Utilities Inc. | 3,083,961 | 141,400 | ||||
Vistra Corp. | 5,774,377 | 131,945 | ||||
UGI Corp. | 2,788,014 | 107,645 | ||||
OGE Energy Corp. | 2,679,019 | 103,303 | ||||
National Fuel Gas Co. | 1,212,296 | 80,072 | ||||
Southwest Gas Holdings Inc. | 894,197 | 77,867 | ||||
IDACORP Inc. | 683,066 | 72,350 | ||||
Black Hills Corp. | 858,619 | 62,482 | ||||
Hawaiian Electric Industries Inc. | 1,465,812 | 59,952 | ||||
ONE Gas Inc. | 736,138 | 59,767 | ||||
Portland General Electric Co. | 1,189,013 | 57,465 | ||||
New Jersey Resources Corp. | 1,290,427 | 57,463 | ||||
South Jersey Industries Inc. | 1,596,468 | 54,503 | ||||
PNM Resources Inc. | 1,125,065 | 53,756 | ||||
Spire Inc. | 688,350 | 51,193 | ||||
Ormat Technologies Inc. | 597,541 | 46,817 | ||||
ALLETE Inc. | 762,839 | 44,840 | ||||
Clearway Energy Inc. Class C | 1,276,793 | 44,483 | ||||
Avangrid Inc. | 934,639 | 43,106 | ||||
California Water Service Group | 765,102 | 42,501 | ||||
NorthWestern Corp. | 719,379 | 42,393 | ||||
Avista Corp. | 960,037 | 41,771 | ||||
American States Water Co. | 493,441 | 40,220 | ||||
MGE Energy Inc. | 487,943 | 37,977 | ||||
Otter Tail Corp. | 562,633 | 37,770 | ||||
Chesapeake Utilities Corp. | 234,284 | 30,351 | ||||
Northwest Natural Holding Co. | 468,285 | 24,866 | ||||
SJW Group | 369,683 | 23,072 | ||||
* | Sunnova Energy International Inc. | 1,251,348 | 23,062 | |||
Middlesex Water Co. | 234,537 | 20,564 | ||||
Unitil Corp. | 210,596 | 12,366 | ||||
*,1 | Montauk Renewables Inc. | 848,083 | 8,523 | |||
Clearway Energy Inc. Class A | 250,740 | 8,016 | ||||
York Water Co. | 169,333 | 6,846 | ||||
Artesian Resources Corp. Class A | 115,069 | 5,658 | ||||
*,1 | Altus Power Inc. | 522,710 | 3,298 | |||
Genie Energy Ltd. Class B | 316,652 | 2,901 | ||||
* | Pure Cycle Corp. | 268,033 | 2,825 | |||
Consolidated Water Co. Ltd. | 150,627 | 2,184 | ||||
RGC Resources Inc. | 101,978 | 1,945 | ||||
Global Water Resources Inc. | 124,335 | 1,642 | ||||
Via Renewables Inc. Class A | 186,239 | 1,427 | ||||
*,1 | Cadiz Inc. | 379,213 | 884 | |||
1,975,230 | ||||||
Total Common Stocks (Cost $75,060,696) | 76,773,717 | |||||
Preferred Stocks (0.0%) | ||||||
1,4 | Meta Materials Inc. Pfd., 0.000% | 1,758,570 | 2,717 | |||
FAT Brands Inc. Pfd., 8.250%, 8/8/22 | 7,939 | 141 | ||||
Air T Funding Pfd., 8.000%, 6/7/24 | 704 | 15 | ||||
Total Preferred Stocks (Cost $143) | 2,873 |
Shares | Market Value• ($000) | |||||
Temporary Cash Investments (3.0%) | ||||||
Money Market Fund (3.0%) | ||||||
5,6 | Vanguard Market Liquidity Fund, 1.417% (Cost $2,342,069) | 23,427,463 | 2,342,044 | |||
Total Investments (102.1%) (Cost $77,402,908) | 79,118,634 | |||||
Other Assets and Liabilities—Net (-2.1%) | (1,645,124) | |||||
Net Assets (100%) | 77,473,510 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,499,928,000. |
2 | Security value determined using significant unobservable inputs. |
3 | “Other” represents securities that are not classified by the fund’s benchmark index. |
4 | Perpetual security with no stated maturity date. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
6 | Collateral of $1,705,687,000 was received for securities on loan, of which $1,705,176,000 is held in Vanguard Market Liquidity Fund and $511,000 is held in cash. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2022 | 5,210 | 444,934 | (17,291) |
E-mini S&P 500 Index | September 2022 | 316 | 59,874 | 62 |
E-mini S&P Mid-Cap 400 Index | September 2022 | 91 | 20,639 | (1,194) |
(18,423) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Airbnb Inc. Class A | 8/31/22 | BANA | 13,900 | (1.252) | — | (3,669) |
Airbnb Inc. Class A | 8/31/22 | BANA | 13,900 | (1.189) | — | (3,669) |
Bill.com Holdings Inc. | 8/31/22 | BANA | 10,050 | (1.235) | — | (715) |
Chewy Inc. Class A | 1/31/23 | GSI | 9,064 | (1.660) | 1,694 | — |
Datadog Inc. Class A | 8/31/22 | BANA | 12,401 | (1.251) | — | (31) |
DocuSign Inc. | 8/31/22 | BANA | 15,272 | (1.177) | — | (4,843) |
Lucid Group Inc. | 1/31/23 | GSI | 32,237 | (1.594) | — | (681) |
Popular Inc. | 8/31/22 | BANA | 2,416 | (1.752) | — | (110) |
Popular Inc. | 8/31/22 | BANA | 2,476 | (1.725) | — | (170) |
Popular Inc. | 8/31/22 | BANA | 2,507 | (1.702) | — | (201) |
Seagen Inc. | 8/31/22 | BANA | 10,176 | (1.324) | 3,085 | — |
Sirius XM Holdings Inc. | 1/31/23 | GSI | 24,040 | (1.581) | 466 | — |
Over-the-Counter Total Return Swaps (continued) | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Snowflake Inc. Class A | 8/31/22 | BANA | 20,169 | (1.273) | 1,784 | — |
Wayfair Inc. Class A | 8/31/22 | BANA | 7,721 | (1.188) | — | (2,065) |
7,029 | (16,154) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $75,060,839) | 76,776,590 |
Affiliated Issuers (Cost $2,342,069) | 2,342,044 |
Total Investments in Securities | 79,118,634 |
Investment in Vanguard | 3,069 |
Cash | 511 |
Cash Collateral Pledged—Futures Contracts | 33,202 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 6,540 |
Receivables for Investment Securities Sold | 92,107 |
Receivables for Accrued Income | 71,880 |
Receivables for Capital Shares Issued | 57,284 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 7,029 |
Total Assets | 79,390,256 |
Liabilities | |
Due to Custodian | 62,328 |
Payables for Investment Securities Purchased | 69,701 |
Collateral for Securities on Loan | 1,705,687 |
Payables for Capital Shares Redeemed | 57,213 |
Payables to Vanguard | 1,469 |
Variation Margin Payable—Futures Contracts | 4,194 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 16,154 |
Total Liabilities | 1,916,746 |
Net Assets | 77,473,510 |
1 Includes $1,499,928 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 77,445,578 |
Total Distributable Earnings (Loss) | 27,932 |
Net Assets | 77,473,510 |
Investor Shares—Net Assets | |
Applicable to 2,471,077 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 246,005 |
Net Asset Value Per Share—Investor Shares | $99.55 |
ETF Shares—Net Assets | |
Applicable to 95,317,902 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 12,497,626 |
Net Asset Value Per Share—ETF Shares | $131.12 |
Admiral Shares—Net Assets | |
Applicable to 203,520,430 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 20,245,963 |
Net Asset Value Per Share—Admiral Shares | $99.48 |
Institutional Shares—Net Assets | |
Applicable to 138,414,059 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 13,768,225 |
Net Asset Value Per Share—Institutional Shares | $99.47 |
Institutional Plus Shares—Net Assets | |
Applicable to 46,419,687 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,394,945 |
Net Asset Value Per Share—Institutional Plus Shares | $245.48 |
Institutional Select Shares—Net Assets | |
Applicable to 120,874,765 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 19,320,746 |
Net Asset Value Per Share—Institutional Select Shares | $159.84 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 396,029 |
Interest1 | 1,337 |
Securities Lending—Net | 51,823 |
Total Income | 449,189 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,076 |
Management and Administrative—Investor Shares | 277 |
Management and Administrative—ETF Shares | 3,659 |
Management and Administrative—Admiral Shares | 6,113 |
Management and Administrative—Institutional Shares | 3,434 |
Management and Administrative—Institutional Plus Shares | 2,143 |
Management and Administrative—Institutional Select Shares | 1,927 |
Marketing and Distribution—Investor Shares | 10 |
Marketing and Distribution—ETF Shares | 275 |
Marketing and Distribution—Admiral Shares | 436 |
Marketing and Distribution—Institutional Shares | 287 |
Marketing and Distribution—Institutional Plus Shares | 241 |
Marketing and Distribution—Institutional Select Shares | 108 |
Custodian Fees | 537 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 206 |
Shareholders’ Reports—Admiral Shares | 91 |
Shareholders’ Reports—Institutional Shares | 97 |
Shareholders’ Reports—Institutional Plus Shares | 69 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 23 |
Other Expenses | 14 |
Total Expenses | 21,023 |
Expenses Paid Indirectly | (27) |
Net Expenses | 20,996 |
Net Investment Income | 428,193 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 1,802,259 |
Futures Contracts | (107,879) |
Swap Contracts | (178,638) |
Realized Net Gain (Loss) | 1,515,742 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (32,329,298) |
Futures Contracts | (29,220) |
Swap Contracts | 12,665 |
Change in Unrealized Appreciation (Depreciation) | (32,345,853) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (30,401,918) |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,333,000, ($326,000), and ($126,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $1,775,083,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 428,193 | 1,130,746 | |
Realized Net Gain (Loss) | 1,515,742 | 8,497,813 | |
Change in Unrealized Appreciation (Depreciation) | (32,345,853) | 2,395,353 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (30,401,918) | 12,023,912 | |
Distributions | |||
Investor Shares | (561) | (4,470) | |
ETF Shares | (37,588) | (191,121) | |
Admiral Shares | (61,133) | (332,583) | |
Institutional Shares | (42,460) | (236,015) | |
Institutional Plus Shares | (35,873) | (169,310) | |
Institutional Select Shares | (61,403) | (319,405) | |
Total Distributions | (239,018) | (1,252,904) | |
Capital Share Transactions | |||
Investor Shares | (50,890) | (107,099) | |
ETF Shares | (168,288) | 2,323,941 | |
Admiral Shares | (712,212) | (743,562) | |
Institutional Shares | (161,363) | (1,373,546) | |
Institutional Plus Shares | (62,299) | 3,042,375 | |
Institutional Select Shares | 554,623 | (994,136) | |
Net Increase (Decrease) from Capital Share Transactions | (600,429) | 2,147,973 | |
Total Increase (Decrease) | (31,241,365) | 12,918,981 | |
Net Assets | |||
Beginning of Period | 108,714,875 | 95,795,894 | |
End of Period | 77,473,510 | 108,714,875 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $138.80 | $124.83 | $95.66 | $75.74 | $84.80 | $72.76 |
Investment Operations | ||||||
Net Investment Income1 | .468 | 1.216 | .983 | .962 | 1.193 | .916 |
Net Realized and Unrealized Gain (Loss) on Investments | (39.498) | 14.134 | 29.401 | 20.089 | (9.104) | 12.074 |
Total from Investment Operations | (39.030) | 15.350 | 30.384 | 21.051 | (7.911) | 12.990 |
Distributions | ||||||
Dividends from Net Investment Income | (.220) | (1.380) | (1.214) | (1.131) | (1.149) | (.950) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.220) | (1.380) | (1.214) | (1.131) | (1.149) | (.950) |
Net Asset Value, End of Period | $99.55 | $138.80 | $124.83 | $95.66 | $75.74 | $84.80 |
Total Return2 | -28.13% | 12.31% | 32.04% | 27.87% | -9.47% | 17.94% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $246 | $399 | $454 | $455 | $1,139 | $1,548 |
Ratio of Total Expenses to Average Net Assets | 0.19%3 | 0.19% | 0.19% | 0.19% | 0.19% | 0.21% |
Ratio of Net Investment Income to Average Net Assets | 0.92% | 0.87% | 1.04% | 1.09% | 1.38% | 1.24% |
Portfolio Turnover Rate4 | 4% | 19% | 19% | 13% | 10% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.19%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $182.81 | $164.43 | $126.02 | $99.77 | $111.72 | $95.86 |
Investment Operations | ||||||
Net Investment Income1 | .712 | 1.867 | 1.509 | 1.636 | 1.742 | 1.420 |
Net Realized and Unrealized Gain (Loss) on Investments | (52.008) | 18.576 | 38.668 | 26.255 | (12.036) | 15.835 |
Total from Investment Operations | (51.296) | 20.443 | 40.177 | 27.891 | (10.294) | 17.255 |
Distributions | ||||||
Dividends from Net Investment Income | (.394) | (2.063) | (1.767) | (1.641) | (1.656) | (1.395) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.394) | (2.063) | (1.767) | (1.641) | (1.656) | (1.395) |
Net Asset Value, End of Period | $131.12 | $182.81 | $164.43 | $126.02 | $99.77 | $111.72 |
Total Return | -28.08% | 12.44% | 32.20% | 28.04% | -9.37% | 18.10% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $12,498 | $17,593 | $13,761 | $8,119 | $6,095 | $5,711 |
Ratio of Total Expenses to Average Net Assets | 0.06%2 | 0.06% | 0.06% | 0.06% | 0.07% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 1.04% | 1.02% | 1.20% | 1.40% | 1.50% | 1.37% |
Portfolio Turnover Rate3 | 4% | 19% | 19% | 13% | 10% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $138.70 | $124.75 | $95.61 | $75.70 | $84.76 | $72.72 |
Investment Operations | ||||||
Net Investment Income1 | .540 | 1.408 | 1.112 | 1.236 | 1.307 | 1.071 |
Net Realized and Unrealized Gain (Loss) on Investments | (39.461) | 14.106 | 29.367 | 19.918 | (9.111) | 12.026 |
Total from Investment Operations | (38.921) | 15.514 | 30.479 | 21.154 | (7.804) | 13.097 |
Distributions | ||||||
Dividends from Net Investment Income | (.299) | (1.564) | (1.339) | (1.244) | (1.256) | (1.057) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.299) | (1.564) | (1.339) | (1.244) | (1.256) | (1.057) |
Net Asset Value, End of Period | $99.48 | $138.70 | $124.75 | $95.61 | $75.70 | $84.76 |
Total Return2 | -28.08% | 12.45% | 32.21% | 28.03% | -9.36% | 18.11% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $20,246 | $29,054 | $26,784 | $22,391 | $17,644 | $19,712 |
Ratio of Total Expenses to Average Net Assets | 0.06%3 | 0.06% | 0.06% | 0.06% | 0.07% | 0.08% |
Ratio of Net Investment Income to Average Net Assets | 1.04% | 1.01% | 1.18% | 1.39% | 1.50% | 1.37% |
Portfolio Turnover Rate4 | 4% | 19% | 19% | 13% | 10% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $138.69 | $124.74 | $95.60 | $75.69 | $84.75 | $72.72 |
Investment Operations | ||||||
Net Investment Income1 | .544 | 1.413 | 1.125 | 1.239 | 1.319 | 1.085 |
Net Realized and Unrealized Gain (Loss) on Investments | (39.459) | 14.115 | 29.364 | 19.925 | (9.113) | 12.018 |
Total from Investment Operations | (38.915) | 15.528 | 30.489 | 21.164 | (7.794) | 13.103 |
Distributions | ||||||
Dividends from Net Investment Income | (.305) | (1.578) | (1.349) | (1.254) | (1.266) | (1.073) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.305) | (1.578) | (1.349) | (1.254) | (1.266) | (1.073) |
Net Asset Value, End of Period | $99.47 | $138.69 | $124.74 | $95.60 | $75.69 | $84.75 |
Total Return | -28.08% | 12.47% | 32.23% | 28.05% | -9.35% | 18.12% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $13,768 | $19,456 | $18,659 | $14,927 | $12,443 | $13,359 |
Ratio of Total Expenses to Average Net Assets | 0.05%2 | 0.05% | 0.05% | 0.05% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.05% | 1.01% | 1.19% | 1.40% | 1.51% | 1.39% |
Portfolio Turnover Rate3 | 4% | 19% | 19% | 13% | 10% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $342.27 | $307.85 | $235.94 | $186.80 | $209.16 | $179.47 |
Investment Operations | ||||||
Net Investment Income1 | 1.360 | 3.595 | 2.798 | 3.078 | 3.208 | 2.611 |
Net Realized and Unrealized Gain (Loss) on Investments | (97.384) | 34.757 | 72.466 | 49.178 | (22.426) | 29.741 |
Total from Investment Operations | (96.024) | 38.352 | 75.264 | 52.256 | (19.218) | 32.352 |
Distributions | ||||||
Dividends from Net Investment Income | (.766) | (3.932) | (3.354) | (3.116) | (3.142) | (2.662) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.766) | (3.932) | (3.354) | (3.116) | (3.142) | (2.662) |
Net Asset Value, End of Period | $245.48 | $342.27 | $307.85 | $235.94 | $186.80 | $209.16 |
Total Return | -28.07% | 12.48% | 32.24% | 28.07% | -9.35% | 18.13% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,395 | $15,973 | $11,665 | $9,486 | $7,559 | $10,565 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04% | 0.04% | 0.04% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.06% | 1.04% | 1.20% | 1.41% | 1.52% | 1.40% |
Portfolio Turnover Rate3 | 4% | 19% | 19% | 13% | 10% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Select Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $222.86 | $200.45 | $153.63 | $121.63 | $136.19 | $116.85 |
Investment Operations | ||||||
Net Investment Income1 | .907 | 2.352 | 1.855 | 2.059 | 2.184 | 1.891 |
Net Realized and Unrealized Gain (Loss) on Investments | (63.411) | 22.661 | 47.179 | 31.999 | (14.655) | 19.221 |
Total from Investment Operations | (62.504) | 25.013 | 49.034 | 34.058 | (12.471) | 21.112 |
Distributions | ||||||
Dividends from Net Investment Income | (.516) | (2.603) | (2.214) | (2.058) | (2.089) | (1.772) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.516) | (2.603) | (2.214) | (2.058) | (2.089) | (1.772) |
Net Asset Value, End of Period | $159.84 | $222.86 | $200.45 | $153.63 | $121.63 | $136.19 |
Total Return | -28.06% | 12.50% | 32.27% | 28.09% | -9.32% | 18.17% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $19,321 | $26,240 | $24,472 | $19,166 | $13,390 | $12,250 |
Ratio of Total Expenses to Average Net Assets | 0.02%2 | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.09% | 1.05% | 1.22% | 1.44% | 1.55% | 1.43% |
Portfolio Turnover Rate3 | 4% | 19% | 19% | 13% | 10% | 11% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.02%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 76,769,501 | — | 4,216 | 76,773,717 |
Preferred Stocks | 2,873 | — | — | 2,873 |
Temporary Cash Investments | 2,342,044 | — | — | 2,342,044 |
Total | 79,114,418 | — | 4,216 | 79,118,634 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 62 | — | — | 62 |
Swap Contracts | — | 7,029 | — | 7,029 |
Total | 62 | 7,029 | — | 7,091 |
Liabilities | ||||
Futures Contracts1 | 18,485 | — | — | 18,485 |
Swap Contracts | — | 16,154 | — | 16,154 |
Total | 18,485 | 16,154 | — | 34,639 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Tax Cost | 77,781,600 |
Gross Unrealized Appreciation | 22,040,084 |
Gross Unrealized Depreciation | (20,730,598) |
Net Unrealized Appreciation (Depreciation) | 1,309,486 |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 6,778 | 59 | 39,158 | 282 | |
Issued in Lieu of Cash Distributions | 561 | 5 | 4,470 | 33 | |
Redeemed | (58,229) | (465) | (150,727) | (1,083) | |
Net Increase (Decrease)—Investor Shares | (50,890) | (401) | (107,099) | (768) | |
ETF Shares | |||||
Issued | 3,100,623 | 20,530 | 15,985,886 | 87,247 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (3,268,911) | (21,450) | (13,661,945) | (74,700) | |
Net Increase (Decrease)—ETF Shares | (168,288) | (920) | 2,323,941 | 12,547 | |
Admiral Shares | |||||
Issued | 1,178,555 | 10,030 | 3,642,653 | 26,360 | |
Issued in Lieu of Cash Distributions | 51,071 | 474 | 279,124 | 2,035 | |
Redeemed | (1,941,838) | (16,459) | (4,665,339) | (33,620) | |
Net Increase (Decrease)—Admiral Shares | (712,212) | (5,955) | (743,562) | (5,225) | |
Institutional Shares | |||||
Issued | 1,448,138 | 12,165 | 4,149,788 | 30,111 | |
Issued in Lieu of Cash Distributions | 39,613 | 368 | 221,019 | 1,611 | |
Redeemed | (1,649,114) | (14,399) | (5,744,353) | (41,017) | |
Net Increase (Decrease)—Institutional Shares | (161,363) | (1,866) | (1,373,546) | (9,295) | |
Institutional Plus Shares | |||||
Issued | 1,357,162 | 4,777 | 5,116,528 | 14,794 | |
Issued in Lieu of Cash Distributions | 34,503 | 130 | 161,853 | 477 | |
Redeemed | (1,453,964) | (5,155) | (2,236,006) | (6,495) | |
Net Increase (Decrease)—Institutional Plus Shares | (62,299) | (248) | 3,042,375 | 8,776 | |
Institutional Select Shares | |||||
Issued | 1,129,898 | 6,126 | 1,654,421 | 7,468 | |
Issued in Lieu of Cash Distributions | 61,403 | 354 | 319,405 | 1,448 | |
Redeemed | (636,678) | (3,345) | (2,967,962) | (13,263) | |
Net Increase (Decrease)—Institutional Select Shares | 554,623 | 3,135 | (994,136) | (4,347) |
Basic Materials | 4.2% |
Consumer Discretionary | 12.5 |
Consumer Staples | 5.4 |
Energy | 6.1 |
Financials | 12.0 |
Health Care | 11.0 |
Industrials | 14.2 |
Real Estate | 10.3 |
Technology | 15.1 |
Telecommunications | 1.8 |
Utilities | 7.4 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.6%) | ||||||
Basic Materials (4.1%) | ||||||
International Flavors & Fragrances Inc. | 5,867,167 | 698,897 | ||||
Fastenal Co. | 13,251,667 | 661,523 | ||||
Nucor Corp. | 6,124,395 | 639,448 | ||||
Albemarle Corp. | 2,696,258 | 563,464 | ||||
LyondellBasell Industries NV Class A | 6,034,559 | 527,783 | ||||
CF Industries Holdings Inc. | 4,801,889 | 411,666 | ||||
Mosaic Co. | 8,333,046 | 393,570 | ||||
International Paper Co. | 8,533,777 | 356,968 | ||||
FMC Corp. | 2,899,474 | 310,273 | ||||
Avery Dennison Corp. | 1,881,411 | 304,544 | ||||
Eastman Chemical Co. | 2,969,211 | 266,546 | ||||
Celanese Corp. | 2,244,533 | 263,979 | ||||
Westlake Corp. | 369,424 | 36,211 | ||||
5,434,872 | ||||||
Consumer Discretionary (12.5%) | ||||||
* | Dollar Tree Inc. | 4,933,529 | 768,891 | |||
* | Aptiv plc | 6,237,552 | 555,579 | |||
* | Copart Inc. | 4,924,887 | 535,138 | |||
Tractor Supply Co. | 2,575,841 | 499,327 | ||||
* | Southwest Airlines Co. | 13,652,272 | 493,120 | |||
* | AutoZone Inc. | 228,500 | 491,074 | |||
DR Horton Inc. | 7,295,096 | 482,862 | ||||
* | Ulta Beauty Inc. | 1,202,440 | 463,517 | |||
* | Take-Two Interactive Software Inc. | 3,729,289 | 456,950 | |||
Genuine Parts Co. | 3,260,228 | 433,610 | ||||
Lennar Corp. Class A | 6,058,787 | 427,569 | ||||
* | Delta Air Lines Inc. | 14,758,507 | 427,554 | |||
* | Trade Desk Inc. Class A | 10,178,195 | 426,365 | |||
* | Chipotle Mexican Grill Inc. | 305,723 | 399,659 | |||
Hilton Worldwide Holdings Inc. | 3,202,786 | 356,918 | ||||
VF Corp. | 8,058,262 | 355,933 | ||||
Garmin Ltd. | 3,557,323 | 349,507 | ||||
* | CarMax Inc. | 3,695,976 | 334,412 | |||
* | Expedia Group Inc. | 3,489,265 | 330,887 | |||
Darden Restaurants Inc. | 2,871,013 | 324,769 | ||||
Domino's Pizza Inc. | 829,764 | 323,367 | ||||
Best Buy Co. Inc. | 4,661,654 | 303,893 | ||||
Omnicom Group Inc. | 4,738,061 | 301,388 | ||||
Paramount Global Class B | 11,962,695 | 295,239 | ||||
* | NVR Inc. | 71,973 | 288,190 | |||
* | Live Nation Entertainment Inc. | 3,413,398 | 281,878 | |||
LKQ Corp. | 5,535,168 | 271,721 | ||||
eBay Inc. | 6,442,887 | 268,475 | ||||
* | United Airlines Holdings Inc. | 7,521,126 | 266,398 | |||
Advance Auto Parts Inc. | 1,396,040 | 241,641 | ||||
Hasbro Inc. | 2,889,697 | 236,608 | ||||
MGM Resorts International | 7,844,403 | 227,095 | ||||
*,1 | ROBLOX Corp. Class A | 6,860,101 | 225,423 | |||
Fox Corp. Class A | 6,878,349 | 221,208 | ||||
PulteGroup Inc. | 5,471,769 | 216,846 | ||||
* | Etsy Inc. | 2,926,557 | 214,253 | |||
* | Burlington Stores Inc. | 1,521,758 | 207,309 | |||
1 | Whirlpool Corp. | 1,293,967 | 200,397 | |||
Rollins Inc. | 5,669,462 | 197,978 | ||||
BorgWarner Inc. | 5,516,364 | 184,081 | ||||
* | Caesars Entertainment Inc. | 4,686,984 | 179,512 | |||
News Corp. Class A | 11,230,586 | 174,973 |
Shares | Market Value• ($000) | |||||
* | Royal Caribbean Cruises Ltd. | 4,987,363 | 174,109 | |||
*,1 | Carnival Corp. | 19,359,811 | 167,462 | |||
Pool Corp. | 438,199 | 153,909 | ||||
* | Las Vegas Sands Corp. | 3,956,986 | 132,915 | |||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 3,562,145 | 128,415 | |||
Interpublic Group of Cos. Inc. | 4,535,385 | 124,859 | ||||
*,1 | Lucid Group Inc. | 6,718,658 | 115,292 | |||
Fox Corp. Class B | 3,718,285 | 110,433 | ||||
Vail Resorts Inc. | 466,432 | 101,706 | ||||
1 | Sirius XM Holdings Inc. | 15,674,790 | 96,086 | |||
* | American Airlines Group Inc. | 7,470,864 | 94,731 | |||
*,1 | GameStop Corp. Class A | 746,902 | 91,346 | |||
Lear Corp. | 688,074 | 86,622 | ||||
*,1 | AMC Entertainment Holdings Inc. Class A | 5,950,581 | 80,630 | |||
Bath & Body Works Inc. | 2,607,991 | 70,207 | ||||
*,1 | Chewy Inc. Class A | 2,012,618 | 69,878 | |||
* | Wynn Resorts Ltd. | 1,200,589 | 68,410 | |||
Warner Music Group Corp. Class A | 2,686,191 | 65,436 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 1,766,681 | 63,671 | |||
* | Endeavor Group Holdings Inc. Class A | 2,944,047 | 60,530 | |||
* | Lyft Inc. Class A | 3,319,831 | 44,087 | |||
*,1 | Wayfair Inc. Class A | 869,915 | 37,894 | |||
* | Carvana Co. | 1,155,920 | 26,101 | |||
Lennar Corp. Class B | 212,879 | 12,498 | ||||
News Corp. Class B | 355,310 | 5,646 | ||||
1 | Paramount Global Class A | 184,136 | 5,020 | |||
* | Peloton Interactive Inc. Class A | 572 | 5 | |||
*,1 | QuantumScape Corp. Class A | 400 | 3 | |||
16,429,415 | ||||||
Consumer Staples (5.4%) | ||||||
Corteva Inc. | 16,699,389 | 904,105 | ||||
Kroger Co. | 14,937,686 | 707,001 | ||||
Tyson Foods Inc. Class A | 6,712,775 | 577,701 | ||||
McKesson Corp. | 1,673,452 | 545,897 | ||||
Church & Dwight Co. Inc. | 5,589,138 | 517,890 | ||||
AmerisourceBergen Corp. | 3,617,512 | 511,806 | ||||
Archer-Daniels-Midland Co. | 6,477,723 | 502,671 | ||||
McCormick & Co. Inc. (Non-Voting) | 5,760,983 | 479,602 | ||||
Kellogg Co. | 5,834,134 | 416,207 | ||||
Clorox Co. | 2,833,413 | 399,455 | ||||
Conagra Brands Inc. | 11,048,564 | 378,303 | ||||
J M Smucker Co. | 2,372,169 | 303,661 | ||||
Hormel Foods Corp. | 5,824,433 | 275,845 | ||||
Campbell Soup Co. | 4,514,949 | 216,943 | ||||
Lamb Weston Holdings Inc. | 1,662,925 | 118,833 | ||||
Molson Coors Beverage Co. Class B | 2,077,718 | 113,256 | ||||
Albertsons Cos. Inc. Class A | 1,752,400 | 46,824 | ||||
* | Olaplex Holdings Inc. | 2,240,272 | 31,565 | |||
7,047,565 | ||||||
Energy (6.1%) | ||||||
Devon Energy Corp. | 15,195,316 | 837,414 | ||||
Cheniere Energy Inc. | 5,266,309 | 700,577 | ||||
Hess Corp. | 6,449,675 | 683,279 | ||||
Baker Hughes Co. | 22,667,213 | 654,402 | ||||
* | Enphase Energy Inc. | 3,108,682 | 606,939 | |||
Halliburton Co. | 18,689,354 | 586,098 | ||||
ONEOK Inc. | 10,283,139 | 570,714 | ||||
Occidental Petroleum Corp. | 8,633,164 | 508,321 | ||||
Valero Energy Corp. | 4,698,862 | 499,395 |
Shares | Market Value• ($000) | |||||
Diamondback Energy Inc. | 4,087,339 | 495,181 | ||||
Coterra Energy Inc. | 17,622,069 | 454,473 | ||||
Phillips 66 | 5,538,265 | 454,082 | ||||
Williams Cos. Inc. | 14,022,009 | 437,627 | ||||
*,1 | Plug Power Inc. | 13,308,100 | 220,515 | |||
Marathon Oil Corp. | 8,144,224 | 183,082 | ||||
Continental Resources Inc. | 1,253,335 | 81,906 | ||||
Pioneer Natural Resources Co. | 460 | 103 | ||||
Marathon Petroleum Corp. | 1,118 | 92 | ||||
7,974,200 | ||||||
Financials (12.0%) | ||||||
Arthur J Gallagher & Co. | 4,835,981 | 788,458 | ||||
MSCI Inc. | 1,777,520 | 732,605 | ||||
M&T Bank Corp. | 4,130,648 | 658,384 | ||||
Discover Financial Services | 6,468,657 | 611,806 | ||||
Ameriprise Financial Inc. | 2,530,434 | 601,434 | ||||
First Republic Bank | 4,136,966 | 596,550 | ||||
* | SVB Financial Group | 1,354,922 | 535,181 | |||
Fifth Third Bancorp | 15,796,822 | 530,773 | ||||
Willis Towers Watson plc | 2,566,710 | 506,643 | ||||
Hartford Financial Services Group Inc. | 7,571,261 | 495,388 | ||||
American International Group Inc. | 9,119,746 | 466,293 | ||||
Northern Trust Corp. | 4,557,844 | 439,741 | ||||
Cincinnati Financial Corp. | 3,507,323 | 417,301 | ||||
Citizens Financial Group Inc. | 11,407,402 | 407,130 | ||||
Nasdaq Inc. | 2,654,297 | 404,886 | ||||
Regions Financial Corp. | 21,515,602 | 403,417 | ||||
Raymond James Financial Inc. | 4,489,547 | 401,410 | ||||
Huntington Bancshares Inc. | 33,136,752 | 398,635 | ||||
Principal Financial Group Inc. | 5,817,207 | 388,531 | ||||
Broadridge Financial Solutions Inc. | 2,699,183 | 384,768 | ||||
* | Markel Corp. | 296,769 | 383,796 | |||
* | Arch Capital Group Ltd. | 8,216,857 | 373,785 | |||
KeyCorp | 21,470,517 | 369,937 | ||||
State Street Corp. | 5,979,708 | 368,649 | ||||
Apollo Global Management Inc. | 7,274,143 | 352,650 | ||||
FactSet Research Systems Inc. | 872,544 | 335,554 | ||||
W R Berkley Corp. | 4,578,593 | 312,535 | ||||
Loews Corp. | 4,818,762 | 285,560 | ||||
Cboe Global Markets Inc. | 2,444,878 | 276,736 | ||||
Everest Re Group Ltd. | 908,041 | 254,506 | ||||
Ally Financial Inc. | 7,065,829 | 236,776 | ||||
Equitable Holdings Inc. | 8,771,877 | 228,683 | ||||
Fidelity National Financial Inc. | 6,139,873 | 226,930 | ||||
Annaly Capital Management Inc. | 35,944,850 | 212,434 | ||||
MarketAxess Holdings Inc. | 825,443 | 211,322 | ||||
Ares Management Corp. Class A | 3,554,260 | 202,095 | ||||
Tradeweb Markets Inc. Class A | 2,476,531 | 169,023 | ||||
Franklin Resources Inc. | 6,907,369 | 161,011 | ||||
*,1 | Coinbase Global Inc. Class A | 3,198,637 | 150,400 | |||
* | Alleghany Corp. | 147,164 | 122,602 | |||
Interactive Brokers Group Inc. Class A | 2,149,385 | 118,238 | ||||
Globe Life Inc. | 1,021,443 | 99,560 | ||||
Lincoln National Corp. | 1,781,333 | 83,313 | ||||
1 | Rocket Cos. Inc. Class A | 2,591,556 | 19,074 | |||
1 | UWM Holdings Corp. Class A | 175 | 1 | |||
15,724,504 | ||||||
Health Care (11.0%) | ||||||
* | Centene Corp. | 13,465,976 | 1,139,356 | |||
* | IQVIA Holdings Inc. | 4,357,814 | 945,602 | |||
ResMed Inc. | 3,367,933 | 706,020 | ||||
* | Dexcom Inc. | 9,037,061 | 673,532 | |||
* | Veeva Systems Inc. Class A | 3,218,654 | 637,422 | |||
* | Seagen Inc. | 3,178,395 | 562,385 | |||
West Pharmaceutical Services Inc. | 1,705,407 | 515,664 | ||||
Zimmer Biomet Holdings Inc. | 4,825,402 | 506,957 | ||||
Laboratory Corp. of America Holdings | 2,145,247 | 502,760 | ||||
STERIS plc | 2,305,265 | 475,230 |
Shares | Market Value• ($000) | |||||
* | Avantor Inc. | 13,949,417 | 433,827 | |||
* | Horizon Therapeutics plc | 5,292,742 | 422,149 | |||
* | Catalent Inc. | 3,919,750 | 420,550 | |||
1 | PerkinElmer Inc. | 2,904,211 | 413,037 | |||
* | Alnylam Pharmaceuticals Inc. | 2,781,352 | 405,660 | |||
* | Hologic Inc. | 5,741,713 | 397,901 | |||
Quest Diagnostics Inc. | 2,702,118 | 359,328 | ||||
Cooper Cos. Inc. | 1,135,194 | 355,452 | ||||
* | BioMarin Pharmaceutical Inc. | 4,259,134 | 352,955 | |||
* | Insulet Corp. | 1,596,377 | 347,914 | |||
* | IDEXX Laboratories Inc. | 967,078 | 339,183 | |||
Royalty Pharma plc Class A | 8,018,351 | 337,092 | ||||
* | Incyte Corp. | 4,335,068 | 329,335 | |||
Cardinal Health Inc. | 6,271,770 | 327,826 | ||||
Viatris Inc. | 27,912,919 | 292,248 | ||||
Teleflex Inc. | 1,079,802 | 265,469 | ||||
* | ABIOMED Inc. | 996,534 | 246,652 | |||
* | Henry Schein Inc. | 3,178,508 | 243,919 | |||
* | Bio-Rad Laboratories Inc. Class A | 486,786 | 240,959 | |||
* | Align Technology Inc. | 906,938 | 214,645 | |||
* | Elanco Animal Health Inc. | 10,369,400 | 203,551 | |||
DENTSPLY SIRONA Inc. | 4,960,624 | 177,243 | ||||
* | Exact Sciences Corp. | 4,050,246 | 159,539 | |||
Universal Health Services Inc. Class B | 1,468,298 | 147,872 | ||||
* | Charles River Laboratories International Inc. | 584,777 | 125,125 | |||
* | DaVita Inc. | 1,307,018 | 104,509 | |||
* | Teladoc Health Inc. | 1,668,484 | 55,410 | |||
* | agilon health Inc. | 2,340,447 | 51,092 | |||
* | 10X Genomics Inc. Class A | 167 | 8 | |||
* | GoodRx Holdings Inc. Class A | 138 | 1 | |||
*,1 | Ginkgo Bioworks Holdings Inc. | 354 | 1 | |||
14,435,380 | ||||||
Industrials (14.1%) | ||||||
Cintas Corp. | 2,002,528 | 748,004 | ||||
Carrier Global Corp. | 19,530,002 | 696,440 | ||||
* | TransDigm Group Inc. | 1,193,892 | 640,726 | |||
Verisk Analytics Inc. | 3,635,459 | 629,262 | ||||
Old Dominion Freight Line Inc. | 2,348,743 | 601,936 | ||||
* | Mettler-Toledo International Inc. | 522,231 | 599,923 | |||
PACCAR Inc. | 7,204,622 | 593,229 | ||||
AMETEK Inc. | 5,316,378 | 584,217 | ||||
* | Keysight Technologies Inc. | 4,141,876 | 570,958 | |||
Rockwell Automation Inc. | 2,676,252 | 533,404 | ||||
Equifax Inc. | 2,816,504 | 514,801 | ||||
Ball Corp. | 7,362,546 | 506,322 | ||||
WW Grainger Inc. | 1,058,927 | 481,208 | ||||
* | Waters Corp. | 1,386,885 | 459,031 | |||
Fortive Corp. | 8,252,707 | 448,782 | ||||
Vulcan Materials Co. | 3,059,705 | 434,784 | ||||
Martin Marietta Materials Inc. | 1,433,990 | 429,107 | ||||
* | Teledyne Technologies Inc. | 1,078,470 | 404,545 | |||
Dover Corp. | 3,319,382 | 402,707 | ||||
* | United Rentals Inc. | 1,648,777 | 400,504 | |||
Ingersoll Rand Inc. | 9,346,044 | 393,282 | ||||
Jacobs Engineering Group Inc. | 2,961,558 | 376,503 | ||||
Expeditors International of Washington Inc. | 3,862,447 | 376,434 | ||||
Stanley Black & Decker Inc. | 3,475,652 | 364,457 | ||||
* | FleetCor Technologies Inc. | 1,691,676 | 355,438 | |||
* | Zebra Technologies Corp. Class A | 1,208,997 | 355,385 | |||
TransUnion | 4,429,669 | 354,329 | ||||
Otis Worldwide Corp. | 4,867,305 | 343,972 | ||||
* | Trimble Inc. | 5,759,029 | 335,348 | |||
Westinghouse Air Brake Technologies Corp. | 3,994,933 | 327,904 | ||||
Xylem Inc. | 4,146,339 | 324,161 | ||||
Synchrony Financial | 11,545,670 | 318,891 | ||||
* | Generac Holdings Inc. | 1,469,484 | 309,444 | |||
JB Hunt Transport Services Inc. | 1,930,028 | 303,922 | ||||
Textron Inc. | 4,952,260 | 302,435 | ||||
CH Robinson Worldwide Inc. | 2,930,022 | 297,016 |
Shares | Market Value• ($000) | |||||
Packaging Corp. of America | 2,157,400 | 296,642 | ||||
Masco Corp. | 5,432,265 | 274,873 | ||||
Crown Holdings Inc. | 2,830,587 | 260,895 | ||||
* | Bill.com Holdings Inc. | 2,280,447 | 250,712 | |||
Snap-on Inc. | 1,228,945 | 242,139 | ||||
Westrock Co. | 5,868,279 | 233,792 | ||||
Fortune Brands Home & Security Inc. | 3,011,587 | 180,334 | ||||
HEICO Corp. Class A | 1,688,008 | 177,882 | ||||
Jack Henry & Associates Inc. | 838,856 | 151,011 | ||||
HEICO Corp. | 940,960 | 123,379 | ||||
Hubbell Inc. Class B | 617,637 | 110,298 | ||||
Cognex Corp. | 1,899,910 | 80,784 | ||||
* | Mohawk Industries Inc. | 621,826 | 77,162 | |||
*,1 | Affirm Holdings Inc. Class A | 2,083,989 | 37,637 | |||
* | Marqeta Inc. Class A | 322 | 3 | |||
* | Aurora Innovation Inc. | 189 | — | |||
18,616,354 | ||||||
Real Estate (10.2%) | ||||||
Realty Income Corp. | 13,851,402 | 945,497 | ||||
Welltower Inc. | 10,451,717 | 860,699 | ||||
Digital Realty Trust Inc. | 6,553,989 | 850,904 | ||||
SBA Communications Corp. | 2,482,586 | 794,552 | ||||
AvalonBay Communities Inc. | 3,219,069 | 625,304 | ||||
Equity Residential | 8,224,779 | 593,993 | ||||
VICI Properties Inc. | 19,518,147 | 581,446 | ||||
Weyerhaeuser Co. | 17,141,114 | 567,714 | ||||
* | CoStar Group Inc. | 9,122,232 | 551,074 | |||
Alexandria Real Estate Equities Inc. | 3,757,816 | 544,996 | ||||
* | CBRE Group Inc. Class A | 7,150,021 | 526,313 | |||
Extra Space Storage Inc. | 3,091,447 | 525,917 | ||||
Invitation Homes Inc. | 14,051,328 | 499,946 | ||||
Duke Realty Corp. | 8,851,118 | 486,369 | ||||
Ventas Inc. | 9,202,220 | 473,270 | ||||
Mid-America Apartment Communities Inc. | 2,657,360 | 464,161 | ||||
Sun Communities Inc. | 2,799,831 | 446,181 | ||||
Essex Property Trust Inc. | 1,504,074 | 393,330 | ||||
WP Carey Inc. | 4,441,414 | 368,016 | ||||
Simon Property Group Inc. | 3,783,279 | 359,109 | ||||
UDR Inc. | 7,330,614 | 337,501 | ||||
Camden Property Trust | 2,452,052 | 329,752 | ||||
Iron Mountain Inc. | 6,689,640 | 325,719 | ||||
Healthpeak Properties Inc. | 12,422,777 | 321,874 | ||||
Boston Properties Inc. | 3,247,206 | 288,936 | ||||
Host Hotels & Resorts Inc. | 8,227,242 | 129,003 | ||||
* | Zillow Group Inc. Class C | 3,862,096 | 122,622 | |||
Regency Centers Corp. | 1,984,384 | 117,694 | ||||
* | Zillow Group Inc. Class A | 831,330 | 26,445 | |||
*,1 | Opendoor Technologies Inc. | 929 | 4 | |||
13,458,341 | ||||||
Technology (15.0%) | ||||||
* | Synopsys Inc. | 3,521,876 | 1,069,594 | |||
* | Cadence Design Systems Inc. | 6,348,960 | 952,534 | |||
Amphenol Corp. Class A | 13,798,822 | 888,368 | ||||
Microchip Technology Inc. | 12,766,575 | 741,483 | ||||
* | Datadog Inc. Class A | 5,865,981 | 558,676 | |||
Corning Inc. | 17,500,826 | 551,451 | ||||
* | Twitter Inc. | 14,075,496 | 526,283 | |||
* | Palo Alto Networks Inc. | 1,062,889 | 525,003 | |||
* | ON Semiconductor Corp. | 10,003,590 | 503,281 | |||
CDW Corp. | 3,110,918 | 490,156 | ||||
* | ANSYS Inc. | 2,002,866 | 479,266 | |||
* | Match Group Inc. | 6,575,059 | 458,216 | |||
* | Fortinet Inc. | 7,851,878 | 444,259 | |||
Marvell Technology Inc. | 9,792,330 | 426,260 | ||||
* | Gartner Inc. | 1,761,645 | 426,019 | |||
Hewlett Packard Enterprise Co. | 29,934,998 | 396,938 | ||||
Monolithic Power Systems Inc. | 1,020,135 | 391,773 | ||||
* | MongoDB Inc. | 1,488,626 | 386,298 |
Shares | Market Value• ($000) | |||||
* | EPAM Systems Inc. | 1,249,978 | 368,469 | |||
* | Palantir Technologies Inc. Class A | 40,067,957 | 363,416 | |||
* | VeriSign Inc. | 2,143,927 | 358,743 | |||
Skyworks Solutions Inc. | 3,705,252 | 343,255 | ||||
* | Akamai Technologies Inc. | 3,690,949 | 337,094 | |||
Seagate Technology Holdings plc | 4,699,276 | 335,716 | ||||
NetApp Inc. | 5,123,469 | 334,255 | ||||
* | Twilio Inc. Class A | 3,956,056 | 331,557 | |||
Teradyne Inc. | 3,688,463 | 330,302 | ||||
* | Paycom Software Inc. | 1,179,119 | 330,295 | |||
* | Splunk Inc. | 3,705,036 | 327,747 | |||
* | Western Digital Corp. | 7,210,139 | 323,231 | |||
* | Tyler Technologies Inc. | 954,906 | 317,487 | |||
* | HubSpot Inc. | 1,044,733 | 314,099 | |||
* | Okta Inc. | 3,470,448 | 313,729 | |||
* | Zscaler Inc. | 1,949,299 | 291,440 | |||
SS&C Technologies Holdings Inc. | 4,986,659 | 289,575 | ||||
Citrix Systems Inc. | 2,914,501 | 283,202 | ||||
NortonLifeLock Inc. | 12,651,744 | 277,832 | ||||
* | DocuSign Inc. | 4,548,069 | 260,968 | |||
* | GoDaddy Inc. Class A | 3,723,958 | 259,039 | |||
* | Cloudflare Inc. Class A | 5,827,820 | 254,967 | |||
* | Pinterest Inc. Class A | 13,023,832 | 236,513 | |||
* | Qorvo Inc. | 2,441,263 | 230,260 | |||
* | Black Knight Inc. | 3,411,250 | 223,062 | |||
* | ZoomInfo Technologies Inc. Class A | 6,500,812 | 216,087 | |||
* | DoorDash Inc. Class A | 2,955,048 | 189,625 | |||
* | Unity Software Inc. | 4,770,190 | 175,638 | |||
Bentley Systems Inc. Class B | 5,082,524 | 169,248 | ||||
Leidos Holdings Inc. | 1,573,220 | 158,439 | ||||
* | Snap Inc. Class A | 11,928,526 | 156,622 | |||
*,1 | AppLovin Corp. Class A | 4,135,509 | 142,427 | |||
* | IAC/InterActiveCorp | 1,839,047 | 139,712 | |||
* | UiPath Inc. Class A | 6,919,096 | 125,858 | |||
* | F5 Inc. | 696,018 | 106,519 | |||
* | Zendesk Inc. | 1,410,522 | 104,477 | |||
* | Dropbox Inc. Class A | 3,207,102 | 67,317 | |||
* | RingCentral Inc. Class A | 977,547 | 51,087 | |||
* | Coupa Software Inc. | 869,145 | 49,628 | |||
* | Toast Inc. Class A | 2,770,987 | 35,857 | |||
* | Qualtrics International Inc. Class A | 2,197,166 | 27,487 | |||
* | Gitlab Inc. Class A | 23 | 1 | |||
* | HashiCorp Inc. Class A | 28 | 1 | |||
19,768,141 | ||||||
Telecommunications (1.8%) | ||||||
Motorola Solutions Inc. | 3,851,756 | 807,328 | ||||
* | Arista Networks Inc. | 5,322,618 | 498,942 | |||
* | Liberty Broadband Corp. Class C | 3,008,729 | 347,930 | |||
1 | Lumen Technologies Inc. | 23,786,352 | 259,509 | |||
* | Roku Inc. | 2,759,340 | 226,652 | |||
Juniper Networks Inc. | 3,718,735 | 105,984 | ||||
* | DISH Network Corp. Class A | 5,708,550 | 102,354 | |||
* | Liberty Broadband Corp. Class A | 445,109 | 50,542 | |||
2,399,241 | ||||||
Utilities (7.4%) | ||||||
Consolidated Edison Inc. | 8,156,952 | 775,726 | ||||
Waste Connections Inc. | 5,921,002 | 733,967 | ||||
WEC Energy Group Inc. | 7,262,016 | 730,849 | ||||
Eversource Energy | 7,940,085 | 670,699 | ||||
American Water Works Co. Inc. | 4,184,432 | 622,518 | ||||
Edison International | 8,776,233 | 555,009 | ||||
Ameren Corp. | 5,928,013 | 535,655 | ||||
Entergy Corp. | 4,682,102 | 527,392 | ||||
* | PG&E Corp. | 48,241,494 | 481,450 | |||
DTE Energy Co. | 3,791,994 | 480,635 | ||||
FirstEnergy Corp. | 12,487,685 | 479,402 | ||||
PPL Corp. | 16,942,826 | 459,659 | ||||
CMS Energy Corp. | 6,678,998 | 450,832 |
Shares | Market Value• ($000) | |||||
CenterPoint Energy Inc. | 14,494,762 | 428,755 | ||||
Evergy Inc. | 5,284,321 | 344,802 | ||||
Alliant Energy Corp. | 5,773,974 | 338,413 | ||||
AES Corp. | 15,375,828 | 323,046 | ||||
NiSource Inc. | 9,343,114 | 275,529 | ||||
Vistra Corp. | 9,941,497 | 227,163 | ||||
Constellation Energy Corp. | 3,759,126 | 215,248 | ||||
Avangrid Inc. | 1,781,406 | 82,159 | ||||
9,738,908 | ||||||
Total Common Stocks (Cost $101,285,695) | 131,026,921 | |||||
Temporary Cash Investments (0.7%) | ||||||
Money Market Fund (0.7%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 1.417% (Cost $945,601) | 9,459,587 | 945,675 | |||
Total Investments (100.3%) (Cost $102,231,296) | 131,972,596 | |||||
Other Assets and Liabilities—Net (-0.3%) | (341,005) | |||||
Net Assets (100%) | 131,631,591 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $613,916,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $655,673,000 was received for securities on loan, of which $653,071,000 is held in Vanguard Market Liquidity Fund and $2,602,000 is held in cash. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2022 | 742 | 63,367 | (429) |
E-mini S&P 500 Index | September 2022 | 523 | 99,095 | (694) |
E-mini S&P Mid-Cap 400 Index | September 2022 | 234 | 53,071 | (887) |
(2,010) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Ameren Corp. | 1/31/23 | GSI | 1,249 | (1.581) | 114 | — |
CRSP US Mid Cap TR Index | 8/31/22 | BANA | 87,872 | (1.624) | — | (9,240) |
DocuSign Inc. | 8/31/22 | BANA | 4,531 | (1.177) | — | (1,437) |
Hormel Foods Corp. | 1/31/23 | GSI | 20,201 | (1.583) | 1,100 | — |
Palantir Technologies Inc. Class A | 8/31/22 | BANA | 2,326 | (1.263) | 102 | — |
Palo Alto Networks Inc. | 8/31/22 | BANA | 25,139 | (1.252) | — | (465) |
Palo Alto Networks Inc. | 8/31/22 | BANA | 17,095 | (1.248) | — | (317) |
Over-the-Counter Total Return Swaps (continued) | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Pinterest Inc. Class A | 8/31/22 | BANA | 4,068 | (1.234) | — | (312) |
Sirius XM Holdings Inc. | 1/31/23 | GSI | 14,875 | (1.581) | 289 | — |
State Street Corp. | 8/31/23 | BANA | 148,605 | (1.803) | — | (21,261) |
VICI Properties Inc. | 8/31/22 | BANA | 76,362 | (2.127) | 3,495 | — |
5,100 | (33,032) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $101,285,695) | 131,026,921 |
Affiliated Issuers (Cost $945,601) | 945,675 |
Total Investments in Securities | 131,972,596 |
Investment in Vanguard | 5,214 |
Cash | 2,602 |
Cash Collateral Pledged—Futures Contracts | 4,125 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 24,180 |
Receivables for Investment Securities Sold | 25,412 |
Receivables for Accrued Income | 162,114 |
Receivables for Capital Shares Issued | 244,623 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 5,100 |
Total Assets | 132,445,966 |
Liabilities | |
Due to Custodian | 11,104 |
Payables for Investment Securities Purchased | 1,787 |
Collateral for Securities on Loan | 655,673 |
Payables for Capital Shares Redeemed | 109,874 |
Payables to Vanguard | 2,343 |
Variation Margin Payable—Futures Contracts | 562 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 33,032 |
Total Liabilities | 814,375 |
Net Assets | 131,631,591 |
1 Includes $613,916 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 107,755,876 |
Total Distributable Earnings (Loss) | 23,875,715 |
Net Assets | 131,631,591 |
Investor Shares—Net Assets | |
Applicable to 9,244,878 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 497,114 |
Net Asset Value Per Share—Investor Shares | $53.77 |
ETF Shares—Net Assets | |
Applicable to 237,731,850 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 46,813,528 |
Net Asset Value Per Share—ETF Shares | $196.92 |
Admiral Shares—Net Assets | |
Applicable to 204,346,073 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 49,840,056 |
Net Asset Value Per Share—Admiral Shares | $243.90 |
Institutional Shares—Net Assets | |
Applicable to 375,922,138 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 20,254,259 |
Net Asset Value Per Share—Institutional Shares | $53.88 |
Institutional Plus Shares—Net Assets | |
Applicable to 53,540,182 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 14,226,634 |
Net Asset Value Per Share—Institutional Plus Shares | $265.72 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 956,694 |
Interest2 | 1,236 |
Securities Lending—Net | 9,806 |
Total Income | 967,736 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,078 |
Management and Administrative—Investor Shares | 484 |
Management and Administrative—ETF Shares | 8,422 |
Management and Administrative—Admiral Shares | 12,356 |
Management and Administrative—Institutional Shares | 4,031 |
Management and Administrative—Institutional Plus Shares | 1,956 |
Marketing and Distribution—Investor Shares | 19 |
Marketing and Distribution—ETF Shares | 986 |
Marketing and Distribution—Admiral Shares | 1,103 |
Marketing and Distribution—Institutional Shares | 373 |
Marketing and Distribution—Institutional Plus Shares | 241 |
Custodian Fees | 154 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 518 |
Shareholders’ Reports—Admiral Shares | 251 |
Shareholders’ Reports—Institutional Shares | 101 |
Shareholders’ Reports—Institutional Plus Shares | 36 |
Trustees’ Fees and Expenses | 38 |
Other Expenses | 120 |
Total Expenses | 32,268 |
Expenses Paid Indirectly | (17) |
Net Expenses | 32,251 |
Net Investment Income | 935,485 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 2,187,213 |
Futures Contracts | (108,116) |
Swap Contracts | (48,100) |
Realized Net Gain (Loss) | 2,030,997 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (40,346,014) |
Futures Contracts | (2,017) |
Swap Contracts | (43,671) |
Change in Unrealized Appreciation (Depreciation) | (40,391,702) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (37,425,220) |
1 | Dividends are net of foreign withholding taxes of $426,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,236,000, ($282,000), and ($34,000), respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $6,306,619,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 935,485 | 1,763,819 | |
Realized Net Gain (Loss) | 2,030,997 | 12,682,950 | |
Change in Unrealized Appreciation (Depreciation) | (40,391,702) | 18,190,970 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (37,425,220) | 32,637,739 | |
Distributions | |||
Investor Shares | (3,106) | (9,018) | |
ETF Shares | (312,331) | (617,083) | |
Admiral Shares | (336,489) | (728,126) | |
Institutional Shares | (140,574) | (304,735) | |
Institutional Plus Shares | (95,408) | (201,610) | |
Total Distributions | (887,908) | (1,860,572) | |
Capital Share Transactions | |||
Investor Shares | (88,165) | (268,407) | |
ETF Shares | 2,347,096 | 6,295,046 | |
Admiral Shares | (581,755) | (452,497) | |
Institutional Shares | (984,828) | (72,833) | |
Institutional Plus Shares | 586,063 | (563,005) | |
Net Increase (Decrease) from Capital Share Transactions | 1,278,411 | 4,938,304 | |
Total Increase (Decrease) | (37,034,717) | 35,715,471 | |
Net Assets | |||
Beginning of Period | 168,666,308 | 132,950,837 | |
End of Period | 131,631,591 | 168,666,308 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $69.54 | $56.52 | $48.64 | $37.71 | $42.23 | $35.92 |
Investment Operations | ||||||
Net Investment Income1 | .341 | .652 | .698 | .577 | .640 | .520 |
Net Realized and Unrealized Gain (Loss) on Investments | (15.787) | 13.065 | 7.937 | 11.018 | (4.528) | 6.313 |
Total from Investment Operations | (15.446) | 13.717 | 8.635 | 11.595 | (3.888) | 6.833 |
Distributions | ||||||
Dividends from Net Investment Income | (.324) | (.697) | (.755) | (.665) | (.632) | (.523) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.324) | (.697) | (.755) | (.665) | (.632) | (.523) |
Net Asset Value, End of Period | $53.77 | $69.54 | $56.52 | $48.64 | $37.71 | $42.23 |
Total Return2 | -22.25% | 24.36% | 18.10% | 30.86% | -9.34% | 19.12% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $497 | $740 | $834 | $877 | $3,043 | $4,047 |
Ratio of Total Expenses to Average Net Assets | 0.17%3 | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
Ratio of Net Investment Income to Average Net Assets | 1.22% | 1.02% | 1.49% | 1.31% | 1.49% | 1.34% |
Portfolio Turnover Rate4 | 6% | 16% | 26% | 15% | 16% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.17%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $254.69 | $207.00 | $178.14 | $138.08 | $154.65 | $131.55 |
Investment Operations | ||||||
Net Investment Income1 | 1.413 | 2.741 | 2.772 | 2.663 | 2.535 | 2.112 |
Net Realized and Unrealized Gain (Loss) on Investments | (57.843) | 47.811 | 29.084 | 40.043 | (16.584) | 23.076 |
Total from Investment Operations | (56.430) | 50.552 | 31.856 | 42.706 | (14.049) | 25.188 |
Distributions | ||||||
Dividends from Net Investment Income | (1.340) | (2.862) | (2.996) | (2.646) | (2.521) | (2.088) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.340) | (2.862) | (2.996) | (2.646) | (2.521) | (2.088) |
Net Asset Value, End of Period | $196.92 | $254.69 | $207.00 | $178.14 | $138.08 | $154.65 |
Total Return | -22.20% | 24.52% | 18.22% | 31.04% | -9.21% | 19.25% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $46,814 | $57,774 | $41,587 | $29,014 | $21,261 | $21,937 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.36% | 1.16% | 1.61% | 1.62% | 1.62% | 1.46% |
Portfolio Turnover Rate3 | 6% | 16% | 26% | 15% | 16% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $315.46 | $256.40 | $220.66 | $171.04 | $191.55 | $162.94 |
Investment Operations | ||||||
Net Investment Income1 | 1.729 | 3.333 | 3.418 | 3.296 | 3.135 | 2.606 |
Net Realized and Unrealized Gain (Loss) on Investments | (71.643) | 59.242 | 36.010 | 49.578 | (20.539) | 28.591 |
Total from Investment Operations | (69.914) | 62.575 | 39.428 | 52.874 | (17.404) | 31.197 |
Distributions | ||||||
Dividends from Net Investment Income | (1.646) | (3.515) | (3.688) | (3.254) | (3.106) | (2.587) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.646) | (3.515) | (3.688) | (3.254) | (3.106) | (2.587) |
Net Asset Value, End of Period | $243.90 | $315.46 | $256.40 | $220.66 | $171.04 | $191.55 |
Total Return2 | -22.21% | 24.51% | 18.24% | 31.03% | -9.23% | 19.25% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $49,840 | $65,118 | $53,301 | $47,640 | $34,754 | $37,778 |
Ratio of Total Expenses to Average Net Assets | 0.05%3 | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.35% | 1.14% | 1.61% | 1.62% | 1.61% | 1.46% |
Portfolio Turnover Rate4 | 6% | 16% | 26% | 15% | 16% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.05%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $69.69 | $56.64 | $48.74 | $37.78 | $42.32 | $35.99 |
Investment Operations | ||||||
Net Investment Income1 | .386 | .743 | .759 | .727 | .697 | .580 |
Net Realized and Unrealized Gain (Loss) on Investments | (15.829) | 13.090 | 7.961 | 10.957 | (4.547) | 6.325 |
Total from Investment Operations | (15.443) | 13.833 | 8.720 | 11.684 | (3.850) | 6.905 |
Distributions | ||||||
Dividends from Net Investment Income | (.367) | (.783) | (.820) | (.724) | (.690) | (.575) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.367) | (.783) | (.820) | (.724) | (.690) | (.575) |
Net Asset Value, End of Period | $53.88 | $69.69 | $56.64 | $48.74 | $37.78 | $42.32 |
Total Return | -22.21% | 24.53% | 18.26% | 31.04% | -9.24% | 19.29% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $20,254 | $27,312 | $22,291 | $20,425 | $16,524 | $18,222 |
Ratio of Total Expenses to Average Net Assets | 0.04%2 | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.36% | 1.15% | 1.62% | 1.62% | 1.62% | 1.47% |
Portfolio Turnover Rate3 | 6% | 16% | 26% | 15% | 16% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $343.68 | $279.34 | $240.40 | $186.34 | $208.69 | $177.51 |
Investment Operations | ||||||
Net Investment Income1 | 1.915 | 3.688 | 3.774 | 3.598 | 3.464 | 2.856 |
Net Realized and Unrealized Gain (Loss) on Investments | (78.051) | 64.544 | 39.230 | 54.052 | (22.388) | 31.179 |
Total from Investment Operations | (76.136) | 68.232 | 43.004 | 57.650 | (18.924) | 34.035 |
Distributions | ||||||
Dividends from Net Investment Income | (1.824) | (3.892) | (4.064) | (3.590) | (3.426) | (2.855) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.824) | (3.892) | (4.064) | (3.590) | (3.426) | (2.855) |
Net Asset Value, End of Period | $265.72 | $343.68 | $279.34 | $240.40 | $186.34 | $208.69 |
Total Return | -22.20% | 24.53% | 18.27% | 31.06% | -9.21% | 19.28% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $14,227 | $17,723 | $14,937 | $13,612 | $11,426 | $12,749 |
Ratio of Total Expenses to Average Net Assets | 0.03%2 | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.37% | 1.16% | 1.63% | 1.62% | 1.63% | 1.48% |
Portfolio Turnover Rate3 | 6% | 16% | 26% | 15% | 16% | 14% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.03%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 131,026,921 | — | — | 131,026,921 |
Temporary Cash Investments | 945,675 | — | — | 945,675 |
Total | 131,972,596 | — | — | 131,972,596 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 5,100 | — | 5,100 |
Liabilities | ||||
Futures Contracts1 | 2,010 | — | — | 2,010 |
Swap Contracts | — | 33,032 | — | 33,032 |
Total | 2,010 | 33,032 | — | 35,042 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Tax Cost | 102,290,406 |
Gross Unrealized Appreciation | 41,392,115 |
Gross Unrealized Depreciation | (11,739,867) |
Net Unrealized Appreciation (Depreciation) | 29,652,248 |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 24,151 | 392 | 57,093 | 901 | |
Issued in Lieu of Cash Distributions | 3,106 | 53 | 9,018 | 140 | |
Redeemed | (115,422) | (1,835) | (334,518) | (5,165) | |
Net Increase (Decrease)—Investor Shares | (88,165) | (1,390) | (268,407) | (4,124) |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 13,371,055 | 60,918 | 23,926,059 | 100,340 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (11,023,959) | (50,025) | (17,631,013) | (74,400) | |
Net Increase (Decrease)—ETF Shares | 2,347,096 | 10,893 | 6,295,046 | 25,940 | |
Admiral Shares | |||||
Issued | 3,581,451 | 12,760 | 8,108,777 | 28,148 | |
Issued in Lieu of Cash Distributions | 288,509 | 1,077 | 628,000 | 2,134 | |
Redeemed | (4,451,715) | (15,915) | (9,189,274) | (31,741) | |
Net Increase (Decrease)—Admiral Shares | (581,755) | (2,078) | (452,497) | (1,459) | |
Institutional Shares | |||||
Issued | 1,870,360 | 30,080 | 4,726,431 | 73,690 | |
Issued in Lieu of Cash Distributions | 130,102 | 2,198 | 282,871 | 4,349 | |
Redeemed | (2,985,290) | (48,285) | (5,082,135) | (79,672) | |
Net Increase (Decrease)—Institutional Shares | (984,828) | (16,007) | (72,833) | (1,633) | |
Institutional Plus Shares | |||||
Issued | 1,291,980 | 4,243 | 1,743,703 | 5,449 | |
Issued in Lieu of Cash Distributions | 94,776 | 325 | 200,859 | 626 | |
Redeemed | (800,693) | (2,596) | (2,507,567) | (7,981) | |
Net Increase (Decrease)—Institutional Plus Shares | 586,063 | 1,972 | (563,005) | (1,906) |
Basic Materials | 2.9% |
Consumer Discretionary | 11.7 |
Consumer Staples | 1.5 |
Energy | 6.7 |
Financials | 6.4 |
Health Care | 16.0 |
Industrials | 17.0 |
Real Estate | 8.1 |
Technology | 26.0 |
Telecommunications | 2.5 |
Utilities | 1.2 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.9%) | ||||||
Basic Materials (2.9%) | ||||||
Fastenal Co. | 3,832,202 | 191,304 | ||||
Albemarle Corp. | 779,762 | 162,955 | ||||
Mosaic Co. | 2,410,216 | 113,834 | ||||
FMC Corp. | 419,213 | 44,860 | ||||
512,953 | ||||||
Consumer Discretionary (11.7%) | ||||||
* | Aptiv plc | 1,803,913 | 160,675 | |||
* | Copart Inc. | 1,424,200 | 154,754 | |||
Tractor Supply Co. | 744,887 | 144,396 | ||||
* | Ulta Beauty Inc. | 347,726 | 134,041 | |||
* | Take-Two Interactive Software Inc. | 1,078,497 | 132,148 | |||
* | Trade Desk Inc. Class A | 2,943,506 | 123,304 | |||
* | Chipotle Mexican Grill Inc. | 88,434 | 115,606 | |||
Hilton Worldwide Holdings Inc. | 926,576 | 103,258 | ||||
* | Expedia Group Inc. | 1,009,189 | 95,701 | |||
Domino's Pizza Inc. | 239,995 | 93,529 | ||||
* | NVR Inc. | 20,809 | 83,322 | |||
* | Live Nation Entertainment Inc. | 987,049 | 81,511 | |||
LKQ Corp. | 1,600,591 | 78,573 | ||||
*,1 | ROBLOX Corp. Class A | 1,984,602 | 65,214 | |||
* | Etsy Inc. | 846,459 | 61,969 | |||
* | Burlington Stores Inc. | 440,131 | 59,959 | |||
Rollins Inc. | 1,639,045 | 57,236 | ||||
* | Caesars Entertainment Inc. | 1,355,591 | 51,919 | |||
* | Royal Caribbean Cruises Ltd. | 1,443,176 | 50,381 | |||
Pool Corp. | 126,728 | 44,511 | ||||
* | Las Vegas Sands Corp. | 1,144,341 | 38,438 | |||
1 | Sirius XM Holdings Inc. | 5,239,365 | 32,117 | |||
Vail Resorts Inc. | 135,029 | 29,443 | ||||
*,1 | Chewy Inc. Class A | 582,232 | 20,215 | |||
* | Wynn Resorts Ltd. | 347,800 | 19,818 | |||
Warner Music Group Corp. Class A | 776,533 | 18,916 | ||||
* | Endeavor Group Holdings Inc. Class A | 851,304 | 17,503 | |||
* | Lyft Inc. Class A | 960,771 | 12,759 | |||
*,1 | Wayfair Inc. Class A | 251,657 | 10,962 | |||
* | Carvana Co. | 335,202 | 7,569 | |||
2,099,747 | ||||||
Consumer Staples (1.5%) | ||||||
Church & Dwight Co. Inc. | 1,616,372 | 149,773 | ||||
McCormick & Co. Inc. (Non-Voting) | 833,104 | 69,356 | ||||
Lamb Weston Holdings Inc. | 480,913 | 34,366 | ||||
* | Olaplex Holdings Inc. | 647,750 | 9,127 | |||
262,622 | ||||||
Energy (6.7%) | ||||||
Devon Energy Corp. | 4,394,514 | 242,182 | ||||
Cheniere Energy Inc. | 1,522,917 | 202,594 | ||||
* | Enphase Energy Inc. | 899,052 | 175,531 | |||
Diamondback Energy Inc. | 1,182,190 | 143,222 | ||||
Coterra Energy Inc. | 5,097,044 | 131,453 | ||||
Hess Corp. | 932,631 | 98,803 | ||||
Halliburton Co. | 2,702,421 | 84,748 | ||||
*,1 | Plug Power Inc. | 3,849,388 | 63,784 | |||
Marathon Oil Corp. | 2,355,668 | 52,955 | ||||
1,195,272 | ||||||
Financials (6.4%) | ||||||
MSCI Inc. | 514,036 | 211,860 |
Shares | Market Value• ($000) | |||||
First Republic Bank | 1,196,379 | 172,518 | ||||
* | SVB Financial Group | 391,839 | 154,772 | |||
Broadridge Financial Solutions Inc. | 780,495 | 111,260 | ||||
Apollo Global Management Inc. | 2,103,863 | 101,995 | ||||
FactSet Research Systems Inc. | 252,328 | 97,038 | ||||
MarketAxess Holdings Inc. | 238,763 | 61,126 | ||||
Ares Management Corp. Class A | 1,027,946 | 58,449 | ||||
* | Markel Corp. | 42,908 | 55,491 | |||
Tradeweb Markets Inc. Class A | 716,035 | 48,869 | ||||
*,1 | Coinbase Global Inc. Class A | 925,208 | 43,503 | |||
Interactive Brokers Group Inc. Class A | 621,569 | 34,192 | ||||
1,151,073 | ||||||
Health Care (16.0%) | ||||||
* | IQVIA Holdings Inc. | 1,260,259 | 273,464 | |||
ResMed Inc. | 973,977 | 204,175 | ||||
* | Dexcom Inc. | 2,613,321 | 194,771 | |||
* | Veeva Systems Inc. Class A | 930,806 | 184,337 | |||
* | Centene Corp. | 1,947,513 | 164,779 | |||
* | Seagen Inc. | 919,216 | 162,646 | |||
West Pharmaceutical Services Inc. | 493,211 | 149,132 | ||||
* | Avantor Inc. | 4,034,347 | 125,468 | |||
* | Horizon Therapeutics plc | 1,530,619 | 122,082 | |||
* | Catalent Inc. | 1,133,542 | 121,618 | |||
PerkinElmer Inc. | 839,907 | 119,452 | ||||
* | Alnylam Pharmaceuticals Inc. | 804,396 | 117,321 | |||
Cooper Cos. Inc. | 328,234 | 102,777 | ||||
* | BioMarin Pharmaceutical Inc. | 1,231,729 | 102,073 | |||
* | Insulet Corp. | 461,663 | 100,615 | |||
* | IDEXX Laboratories Inc. | 279,653 | 98,083 | |||
* | Incyte Corp. | 1,253,621 | 95,238 | |||
* | ABIOMED Inc. | 288,214 | 71,336 | |||
* | Bio-Rad Laboratories Inc. Class A | 140,797 | 69,694 | |||
STERIS plc | 333,344 | 68,719 | ||||
* | Align Technology Inc. | 262,297 | 62,078 | |||
* | Exact Sciences Corp. | 1,171,241 | 46,135 | |||
Teleflex Inc. | 156,130 | 38,384 | ||||
* | Charles River Laboratories International Inc. | 169,129 | 36,188 | |||
* | Teladoc Health Inc. | 483,190 | 16,047 | |||
* | agilon health Inc. | 676,890 | 14,776 | |||
2,861,388 | ||||||
Industrials (17.0%) | ||||||
Cintas Corp. | 579,110 | 216,315 | ||||
* | TransDigm Group Inc. | 345,256 | 185,288 | |||
Verisk Analytics Inc. | 1,051,349 | 181,978 | ||||
Old Dominion Freight Line Inc. | 679,250 | 174,078 | ||||
* | Mettler-Toledo International Inc. | 151,009 | 173,475 | |||
AMETEK Inc. | 1,537,474 | 168,953 | ||||
Equifax Inc. | 814,516 | 148,877 | ||||
* | Waters Corp. | 401,062 | 132,743 | |||
Vulcan Materials Co. | 884,846 | 125,737 | ||||
Martin Marietta Materials Inc. | 414,694 | 124,093 | ||||
* | Teledyne Technologies Inc. | 311,891 | 116,993 | |||
Expeditors International of Washington Inc. | 1,116,907 | 108,854 | ||||
* | FleetCor Technologies Inc. | 489,198 | 102,785 | |||
* | Zebra Technologies Corp. Class A | 349,637 | 102,776 | |||
TransUnion | 1,280,982 | 102,466 | ||||
* | Trimble Inc. | 1,665,608 | 96,988 | |||
Westinghouse Air Brake Technologies Corp. | 1,155,307 | 94,828 | ||||
Xylem Inc. | 1,199,086 | 93,745 |
Shares | Market Value• ($000) | |||||
* | Generac Holdings Inc. | 424,987 | 89,494 | |||
JB Hunt Transport Services Inc. | 558,152 | 87,892 | ||||
Masco Corp. | 1,571,052 | 79,495 | ||||
Ball Corp. | 1,064,732 | 73,222 | ||||
* | Bill.com Holdings Inc. | 659,554 | 72,511 | |||
HEICO Corp. Class A | 487,866 | 51,411 | ||||
Jack Henry & Associates Inc. | 242,519 | 43,658 | ||||
HEICO Corp. | 272,366 | 35,713 | ||||
Fortune Brands Home & Security Inc. | 435,583 | 26,083 | ||||
Cognex Corp. | 549,450 | 23,363 | ||||
*,1 | Affirm Holdings Inc. Class A | 602,739 | 10,885 | |||
3,044,699 | ||||||
Real Estate (8.1%) | ||||||
Realty Income Corp. | 4,005,606 | 273,423 | ||||
Digital Realty Trust Inc. | 1,895,406 | 246,081 | ||||
SBA Communications Corp. | 717,948 | 229,779 | ||||
* | CoStar Group Inc. | 2,638,134 | 159,370 | |||
Extra Space Storage Inc. | 894,065 | 152,098 | ||||
Invitation Homes Inc. | 4,063,607 | 144,583 | ||||
Sun Communities Inc. | 809,721 | 129,037 | ||||
Camden Property Trust | 354,581 | 47,684 | ||||
* | Zillow Group Inc. Class C | 1,077,550 | 34,212 | |||
Host Hotels & Resorts Inc. | 1,189,198 | 18,647 | ||||
* | Zillow Group Inc. Class A | 280,995 | 8,938 | |||
1,443,852 | ||||||
Technology (25.9%) | ||||||
* | Synopsys Inc. | 1,018,513 | 309,323 | |||
* | Cadence Design Systems Inc. | 1,836,073 | 275,466 | |||
Amphenol Corp. Class A | 4,002,255 | 257,665 | ||||
Microchip Technology Inc. | 3,692,015 | 214,432 | ||||
* | Palo Alto Networks Inc. | 331,693 | 163,837 | |||
* | Datadog Inc. Class A | 1,696,471 | 161,572 | |||
* | Twitter Inc. | 4,070,411 | 152,193 | |||
* | ON Semiconductor Corp. | 2,893,081 | 145,551 | |||
* | ANSYS Inc. | 579,179 | 138,592 | |||
* | Match Group Inc. | 1,901,494 | 132,515 | |||
* | Fortinet Inc. | 2,271,248 | 128,507 | |||
Marvell Technology Inc. | 2,832,031 | 123,278 | ||||
* | Gartner Inc. | 509,421 | 123,193 | |||
Monolithic Power Systems Inc. | 295,034 | 113,305 | ||||
* | MongoDB Inc. | 430,501 | 111,715 | |||
* | EPAM Systems Inc. | 361,494 | 106,561 | |||
* | Palantir Technologies Inc. Class A | 11,665,075 | 105,802 | |||
* | VeriSign Inc. | 619,950 | 103,736 | |||
Skyworks Solutions Inc. | 1,071,451 | 99,259 | ||||
* | Akamai Technologies Inc. | 1,067,331 | 97,479 | |||
* | Twilio Inc. Class A | 1,144,231 | 95,898 | |||
* | Paycom Software Inc. | 341,004 | 95,522 | |||
Teradyne Inc. | 1,066,664 | 95,520 | ||||
* | Splunk Inc. | 1,071,516 | 94,786 | |||
* | Tyler Technologies Inc. | 276,140 | 91,811 | |||
* | HubSpot Inc. | 302,146 | 90,840 |
Shares | Market Value• ($000) | |||||
* | Okta Inc. | 1,003,682 | 90,733 | |||
* | Zscaler Inc. | 563,622 | 84,267 | |||
* | DocuSign Inc. | 1,331,123 | 76,380 | |||
* | GoDaddy Inc. Class A | 1,077,035 | 74,919 | |||
* | Cloudflare Inc. Class A | 1,685,534 | 73,742 | |||
* | Pinterest Inc. Class A | 3,826,631 | 69,492 | |||
* | Black Knight Inc. | 986,647 | 64,517 | |||
* | ZoomInfo Technologies Inc. Class A | 1,880,331 | 62,502 | |||
* | DoorDash Inc. Class A | 854,752 | 54,850 | |||
* | Unity Software Inc. | 1,379,875 | 50,807 | |||
Bentley Systems Inc. Class B | 1,470,019 | 48,952 | ||||
* | Snap Inc. Class A | 3,450,743 | 45,308 | |||
SS&C Technologies Holdings Inc. | 721,643 | 41,906 | ||||
*,1 | AppLovin Corp. Class A | 1,195,669 | 41,179 | |||
* | IAC/InterActiveCorp | 531,797 | 40,401 | |||
* | Zendesk Inc. | 407,916 | 30,214 | |||
* | Dropbox Inc. Class A | 927,648 | 19,471 | |||
* | RingCentral Inc. Class A | 282,900 | 14,784 | |||
* | Coupa Software Inc. | 251,509 | 14,361 | |||
* | Toast Inc. Class A | 802,027 | 10,378 | |||
* | Qualtrics International Inc. Class A | 635,713 | 7,953 | |||
4,645,474 | ||||||
Telecommunications (2.5%) | ||||||
* | Arista Networks Inc. | 1,539,363 | 144,300 | |||
Motorola Solutions Inc. | 556,943 | 116,735 | ||||
* | Liberty Broadband Corp. Class C | 870,689 | 100,686 | |||
* | Roku Inc. | 798,010 | 65,549 | |||
* | Liberty Broadband Corp. Class A | 127,738 | 14,505 | |||
441,775 | ||||||
Utilities (1.2%) | ||||||
Waste Connections Inc. | 1,712,280 | 212,254 | ||||
Total Common Stocks (Cost $16,018,875) | 17,871,109 | |||||
Temporary Cash Investments (0.5%) | ||||||
Money Market Fund (0.5%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 1.417% (Cost $89,764) | 897,937 | 89,767 | |||
Total Investments (100.4%) (Cost $16,108,639) | 17,960,876 | |||||
Other Assets and Liabilities—Net (-0.4%) | (67,545) | |||||
Net Assets (100%) | 17,893,331 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $71,169,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $78,147,000 was received for securities on loan, of which $75,064,000 is held in Vanguard Market Liquidity Fund and $3,083,000 is held in cash. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2022 | 65 | 12,316 | 360 |
E-mini S&P Mid-Cap 400 Index | September 2022 | 39 | 8,845 | (473) |
(113) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $16,018,875) | 17,871,109 |
Affiliated Issuers (Cost $89,764) | 89,767 |
Total Investments in Securities | 17,960,876 |
Investment in Vanguard | 694 |
Cash | 3,083 |
Cash Collateral Pledged—Futures Contracts | 1,210 |
Receivables for Investment Securities Sold | 19,097 |
Receivables for Accrued Income | 4,370 |
Receivables for Capital Shares Issued | 7,344 |
Total Assets | 17,996,674 |
Liabilities | |
Due to Custodian | 10,177 |
Payables for Investment Securities Purchased | 5,711 |
Collateral for Securities on Loan | 78,147 |
Payables for Capital Shares Redeemed | 8,598 |
Payables to Vanguard | 520 |
Variation Margin Payable—Futures Contracts | 190 |
Total Liabilities | 103,343 |
Net Assets | 17,893,331 |
1 Includes $71,169 of securities on loan. | |
At June 30, 2022, net assets consisted of: | |
Paid-in Capital | 17,380,486 |
Total Distributable Earnings (Loss) | 512,845 |
Net Assets | 17,893,331 |
Investor Shares—Net Assets | |
Applicable to 676,818 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 46,668 |
Net Asset Value Per Share—Investor Shares | $68.95 |
ETF Shares—Net Assets | |
Applicable to 51,295,797 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 8,993,903 |
Net Asset Value Per Share—ETF Shares | $175.33 |
Admiral Shares—Net Assets | |
Applicable to 117,294,510 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 8,852,760 |
Net Asset Value Per Share—Admiral Shares | $75.47 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 60,497 |
Interest2 | 15 |
Securities Lending—Net | 1,389 |
Total Income | 61,901 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 709 |
Management and Administrative—Investor Shares | 51 |
Management and Administrative—ETF Shares | 2,919 |
Management and Administrative—Admiral Shares | 2,944 |
Marketing and Distribution—Investor Shares | 3 |
Marketing and Distribution—ETF Shares | 194 |
Marketing and Distribution—Admiral Shares | 242 |
Custodian Fees | 43 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 155 |
Shareholders’ Reports—Admiral Shares | 64 |
Trustees’ Fees and Expenses | 5 |
Other Expenses | 8 |
Total Expenses | 7,337 |
Expenses Paid Indirectly | (1) |
Net Expenses | 7,336 |
Net Investment Income | 54,565 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | (131,044) |
Futures Contracts | (4,723) |
Realized Net Gain (Loss) | (135,767) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (7,833,935) |
Futures Contracts | (1,383) |
Change in Unrealized Appreciation (Depreciation) | (7,835,318) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (7,916,520) |
1 | Dividends are net of foreign withholding taxes of $124,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $15,000, ($20,000), and $3,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $1,123,176,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 54,565 | 86,047 | |
Realized Net Gain (Loss) | (135,767) | 2,746,227 | |
Change in Unrealized Appreciation (Depreciation) | (7,835,318) | 1,423,310 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (7,916,520) | 4,255,584 | |
Distributions | |||
Investor Shares | (131) | (202) | |
ETF Shares | (30,855) | (41,740) | |
Admiral Shares | (30,526) | (43,398) | |
Total Distributions | (61,512) | (85,340) | |
Capital Share Transactions | |||
Investor Shares | (15,817) | (10,066) | |
ETF Shares | 163,390 | 630,212 | |
Admiral Shares | 42,615 | (65,985) | |
Net Increase (Decrease) from Capital Share Transactions | 190,188 | 554,161 | |
Total Increase (Decrease) | (7,787,844) | 4,724,405 | |
Net Assets | |||
Beginning of Period | 25,681,175 | 20,956,770 | |
End of Period | 17,893,331 | 25,681,175 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $100.07 | $83.37 | $62.43 | $47.02 | $50.21 | $41.52 |
Investment Operations | ||||||
Net Investment Income1 | .158 | .229 | .340 | .345 | .333 | .304 |
Net Realized and Unrealized Gain (Loss) on Investments | (31.091) | 16.697 | 20.984 | 15.485 | (3.193) | 8.692 |
Total from Investment Operations | (30.933) | 16.926 | 21.324 | 15.830 | (2.860) | 8.996 |
Distributions | ||||||
Dividends from Net Investment Income | (.187) | (.226) | (.384) | (.420) | (.330) | (.306) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.187) | (.226) | (.384) | (.420) | (.330) | (.306) |
Net Asset Value, End of Period | $68.95 | $100.07 | $83.37 | $62.43 | $47.02 | $50.21 |
Total Return2 | -30.93% | 20.32% | 34.32% | 33.72% | -5.74% | 21.72% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $47 | $86 | $81 | $63 | $405 | $495 |
Ratio of Total Expenses to Average Net Assets | 0.19%3 | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 0.47% | 0.25% | 0.51% | 0.62% | 0.64% | 0.67% |
Portfolio Turnover Rate4 | 12% | 25% | 22% | 18% | 25% | 23% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.19%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $254.49 | $212.00 | $158.76 | $119.58 | $127.67 | $105.60 |
Investment Operations | ||||||
Net Investment Income1 | .539 | .870 | 1.074 | 1.386 | 1.016 | .932 |
Net Realized and Unrealized Gain (Loss) on Investments | (79.092) | 42.479 | 53.347 | 39.040 | (8.101) | 22.058 |
Total from Investment Operations | (78.553) | 43.349 | 54.421 | 40.426 | (7.085) | 22.990 |
Distributions | ||||||
Dividends from Net Investment Income | (.607) | (.859) | (1.181) | (1.246) | (1.005) | (.920) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.607) | (.859) | (1.181) | (1.246) | (1.005) | (.920) |
Net Asset Value, End of Period | $175.33 | $254.49 | $212.00 | $158.76 | $119.58 | $127.67 |
Total Return | -30.89% | 20.47% | 34.46% | 33.86% | -5.60% | 21.83% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $8,994 | $12,798 | $10,164 | $6,995 | $4,956 | $5,130 |
Ratio of Total Expenses to Average Net Assets | 0.07%2 | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.60% | 0.37% | 0.63% | 0.95% | 0.76% | 0.79% |
Portfolio Turnover Rate3 | 12% | 25% | 22% | 18% | 25% | 23% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $109.55 | $91.26 | $68.34 | $51.48 | $54.96 | $45.46 |
Investment Operations | ||||||
Net Investment Income1 | .233 | .373 | .461 | .603 | .437 | .400 |
Net Realized and Unrealized Gain (Loss) on Investments | (34.052) | 18.287 | 22.967 | 16.793 | (3.485) | 9.496 |
Total from Investment Operations | (33.819) | 18.660 | 23.428 | 17.396 | (3.048) | 9.896 |
Distributions | ||||||
Dividends from Net Investment Income | (.261) | (.370) | (.508) | (.536) | (.432) | (.396) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.261) | (.370) | (.508) | (.536) | (.432) | (.396) |
Net Asset Value, End of Period | $75.47 | $109.55 | $91.26 | $68.34 | $51.48 | $54.96 |
Total Return2 | -30.90% | 20.48% | 34.48% | 33.86% | -5.60% | 21.83% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $8,853 | $12,797 | $10,712 | $8,173 | $5,544 | $5,659 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.61% | 0.37% | 0.63% | 0.96% | 0.76% | 0.79% |
Portfolio Turnover Rate4 | 12% | 25% | 22% | 18% | 25% | 23% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Amount ($000) | |
Tax Cost | 16,122,032 |
Gross Unrealized Appreciation | 4,530,179 |
Gross Unrealized Depreciation | (2,691,448) |
Net Unrealized Appreciation (Depreciation) | 1,838,731 |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 4,300 | 52 | 19,175 | 208 | |
Issued in Lieu of Cash Distributions | 131 | 2 | 202 | 2 | |
Redeemed | (20,248) | (237) | (29,443) | (320) | |
Net Increase (Decrease)—Investor Shares | (15,817) | (183) | (10,066) | (110) |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 2,284,306 | 11,408 | 5,301,356 | 22,469 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (2,120,916) | (10,400) | (4,671,144) | (20,125) | |
Net Increase (Decrease)—ETF Shares | 163,390 | 1,008 | 630,212 | 2,344 | |
Admiral Shares | |||||
Issued | 1,079,048 | 12,025 | 2,259,984 | 22,820 | |
Issued in Lieu of Cash Distributions | 27,338 | 325 | 38,861 | 380 | |
Redeemed | (1,063,771) | (11,869) | (2,364,830) | (23,759) | |
Net Increase (Decrease)—Admiral Shares | 42,615 | 481 | (65,985) | (559) |
Basic Materials | 5.3% |
Consumer Discretionary | 13.2 |
Consumer Staples | 8.9 |
Energy | 5.5 |
Financials | 16.9 |
Health Care | 6.5 |
Industrials | 11.7 |
Real Estate | 12.3 |
Technology | 5.4 |
Telecommunications | 1.3 |
Utilities | 13.0 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.8%) | ||||||
Basic Materials (5.3%) | ||||||
International Flavors & Fragrances Inc. | 2,247,250 | 267,692 | ||||
Nucor Corp. | 2,345,676 | 244,912 | ||||
LyondellBasell Industries NV Class A | 2,311,240 | 202,141 | ||||
CF Industries Holdings Inc. | 1,839,514 | 157,702 | ||||
International Paper Co. | 3,268,297 | 136,713 | ||||
Avery Dennison Corp. | 720,594 | 116,643 | ||||
Eastman Chemical Co. | 1,137,105 | 102,078 | ||||
Celanese Corp. | 859,589 | 101,096 | ||||
FMC Corp. | 555,280 | 59,420 | ||||
Westlake Corp. | 141,530 | 13,873 | ||||
1,402,270 | ||||||
Consumer Discretionary (13.2%) | ||||||
* | Dollar Tree Inc. | 1,889,672 | 294,505 | |||
* | Southwest Airlines Co. | 5,228,925 | 188,869 | |||
* | AutoZone Inc. | 87,516 | 188,082 | |||
DR Horton Inc. | 2,793,951 | 184,932 | ||||
Genuine Parts Co. | 1,248,621 | 166,067 | ||||
* | Delta Air Lines Inc. | 5,653,185 | 163,773 | |||
Lennar Corp. Class A | 2,286,738 | 161,375 | ||||
VF Corp. | 3,086,499 | 136,331 | ||||
Garmin Ltd. | 1,362,445 | 133,860 | ||||
* | CarMax Inc. | 1,415,674 | 128,090 | |||
Darden Restaurants Inc. | 1,099,954 | 124,427 | ||||
Best Buy Co. Inc. | 1,785,456 | 116,394 | ||||
Omnicom Group Inc. | 1,814,229 | 115,403 | ||||
Paramount Global Class B | 4,562,745 | 112,609 | ||||
eBay Inc. | 2,468,463 | 102,861 | ||||
* | United Airlines Holdings Inc. | 2,881,283 | 102,055 | |||
Advance Auto Parts Inc. | 534,735 | 92,557 | ||||
Hasbro Inc. | 1,106,698 | 90,616 | ||||
MGM Resorts International | 3,005,671 | 87,014 | ||||
Fox Corp. Class A | 2,638,608 | 84,858 | ||||
PulteGroup Inc. | 2,095,547 | 83,047 | ||||
Whirlpool Corp. | 495,620 | 76,757 | ||||
BorgWarner Inc. | 2,112,479 | 70,493 | ||||
* | Carnival Corp. | 7,418,495 | 64,170 | |||
News Corp. Class A | 4,098,803 | 63,859 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 1,345,672 | 48,511 | |||
Interpublic Group of Cos. Inc. | 1,736,314 | 47,801 | ||||
*,1 | Lucid Group Inc. | 2,574,086 | 44,171 | |||
Fox Corp. Class B | 1,417,741 | 42,107 | ||||
* | American Airlines Group Inc. | 2,862,920 | 36,302 | |||
*,1 | GameStop Corp. Class A | 286,205 | 35,003 | |||
Lear Corp. | 263,660 | 33,192 | ||||
*,1 | AMC Entertainment Holdings Inc. Class A | 2,278,492 | 30,874 | |||
Bath & Body Works Inc. | 998,793 | 26,888 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 693,422 | 24,991 | |||
Lennar Corp. Class B | 122,627 | 7,199 | ||||
News Corp. Class B | 378,120 | 6,008 | ||||
Paramount Global Class A | 87,536 | 2,386 | ||||
3,518,437 | ||||||
Consumer Staples (8.9%) | ||||||
Corteva Inc. | 6,396,084 | 346,284 | ||||
Kroger Co. | 5,721,679 | 270,807 | ||||
Tyson Foods Inc. Class A | 2,570,879 | 221,250 | ||||
McKesson Corp. | 640,933 | 209,079 | ||||
AmerisourceBergen Corp. | 1,385,335 | 195,997 |
Shares | Market Value• ($000) | |||||
Archer-Daniels-Midland Co. | 2,481,070 | 192,531 | ||||
Kellogg Co. | 2,234,561 | 159,413 | ||||
Clorox Co. | 1,085,362 | 153,014 | ||||
Conagra Brands Inc. | 4,231,701 | 144,893 | ||||
J M Smucker Co. | 908,593 | 116,309 | ||||
Hormel Foods Corp. | 2,402,960 | 113,804 | ||||
McCormick & Co. Inc. (Non-Voting) | 1,103,275 | 91,848 | ||||
Campbell Soup Co. | 1,729,321 | 83,094 | ||||
Molson Coors Beverage Co. Class B | 795,829 | 43,381 | ||||
Albertsons Cos. Inc. Class A | 671,432 | 17,941 | ||||
2,359,645 | ||||||
Energy (5.5%) | ||||||
Baker Hughes Co. | 8,682,306 | 250,658 | ||||
ONEOK Inc. | 3,938,479 | 218,586 | ||||
Occidental Petroleum Corp. | 3,305,791 | 194,645 | ||||
Valero Energy Corp. | 1,799,367 | 191,237 | ||||
Phillips 66 | 2,121,264 | 173,922 | ||||
Williams Cos. Inc. | 5,370,457 | 167,612 | ||||
Hess Corp. | 1,235,189 | 130,856 | ||||
Halliburton Co. | 3,579,226 | 112,244 | ||||
Continental Resources Inc. | 479,997 | 31,368 | ||||
1,471,128 | ||||||
Financials (16.9%) | ||||||
Arthur J Gallagher & Co. | 1,852,450 | 302,023 | ||||
M&T Bank Corp. | 1,582,154 | 252,180 | ||||
Discover Financial Services | 2,477,647 | 234,336 | ||||
Ameriprise Financial Inc. | 969,177 | 230,354 | ||||
Fifth Third Bancorp | 6,050,125 | 203,284 | ||||
Willis Towers Watson plc | 983,140 | 194,062 | ||||
Hartford Financial Services Group Inc. | 2,900,019 | 189,748 | ||||
American International Group Inc. | 3,492,910 | 178,593 | ||||
Northern Trust Corp. | 1,745,682 | 168,423 | ||||
Cincinnati Financial Corp. | 1,343,416 | 159,840 | ||||
Citizens Financial Group Inc. | 4,369,016 | 155,930 | ||||
Nasdaq Inc. | 1,016,530 | 155,061 | ||||
Regions Financial Corp. | 8,240,692 | 154,513 | ||||
Raymond James Financial Inc. | 1,719,523 | 153,743 | ||||
Huntington Bancshares Inc. | 12,691,109 | 152,674 | ||||
Principal Financial Group Inc. | 2,228,245 | 148,824 | ||||
* | Arch Capital Group Ltd. | 3,146,964 | 143,155 | |||
KeyCorp | 8,222,742 | 141,678 | ||||
State Street Corp. | 2,293,568 | 141,398 | ||||
W R Berkley Corp. | 1,753,880 | 119,720 | ||||
Loews Corp. | 1,844,660 | 109,315 | ||||
Cboe Global Markets Inc. | 936,396 | 105,991 | ||||
Everest Re Group Ltd. | 347,777 | 97,475 | ||||
Ally Financial Inc. | 2,706,318 | 90,689 | ||||
Equitable Holdings Inc. | 3,359,841 | 87,591 | ||||
Fidelity National Financial Inc. | 2,351,618 | 86,916 | ||||
Annaly Capital Management Inc. | 13,765,519 | 81,354 | ||||
* | Markel Corp. | 56,832 | 73,498 | |||
Franklin Resources Inc. | 2,645,129 | 61,658 | ||||
* | Alleghany Corp. | 56,365 | 46,958 | |||
Globe Life Inc. | 391,358 | 38,146 | ||||
Lincoln National Corp. | 682,274 | 31,910 | ||||
1 | Rocket Cos. Inc. Class A | 992,557 | 7,305 | |||
4,498,345 | ||||||
Health Care (6.5%) | ||||||
* | Centene Corp. | 2,578,860 | 218,197 |
Shares | Market Value• ($000) | |||||
Zimmer Biomet Holdings Inc. | 1,848,127 | 194,164 | ||||
Laboratory Corp. of America Holdings | 821,654 | 192,563 | ||||
* | Hologic Inc. | 2,199,123 | 152,399 | |||
Quest Diagnostics Inc. | 1,034,956 | 137,629 | ||||
Royalty Pharma plc Class A | 3,070,997 | 129,105 | ||||
Cardinal Health Inc. | 2,402,342 | 125,570 | ||||
Viatris Inc. | 10,690,728 | 111,932 | ||||
* | Henry Schein Inc. | 1,217,362 | 93,420 | |||
STERIS plc | 441,479 | 91,011 | ||||
* | Elanco Animal Health Inc. | 3,971,736 | 77,965 | |||
DENTSPLY SIRONA Inc. | 1,899,951 | 67,885 | ||||
Universal Health Services Inc. Class B | 562,352 | 56,635 | ||||
Teleflex Inc. | 206,794 | 50,840 | ||||
* | DaVita Inc. | 500,661 | 40,033 | |||
1,739,348 | ||||||
Industrials (11.6%) | ||||||
Carrier Global Corp. | 7,480,109 | 266,741 | ||||
PACCAR Inc. | 2,759,356 | 227,205 | ||||
* | Keysight Technologies Inc. | 1,586,417 | 218,688 | |||
Rockwell Automation Inc. | 1,025,228 | 204,338 | ||||
WW Grainger Inc. | 405,567 | 184,302 | ||||
Fortive Corp. | 3,160,893 | 171,889 | ||||
Dover Corp. | 1,271,275 | 154,231 | ||||
* | United Rentals Inc. | 631,501 | 153,398 | |||
Ingersoll Rand Inc. | 3,579,654 | 150,632 | ||||
Jacobs Engineering Group Inc. | 1,134,284 | 144,201 | ||||
Stanley Black & Decker Inc. | 1,331,259 | 139,596 | ||||
Otis Worldwide Corp. | 1,864,158 | 131,740 | ||||
Synchrony Financial | 4,422,300 | 122,144 | ||||
Textron Inc. | 1,896,684 | 115,830 | ||||
CH Robinson Worldwide Inc. | 1,122,276 | 113,765 | ||||
Packaging Corp. of America | 826,281 | 113,614 | ||||
Crown Holdings Inc. | 1,084,152 | 99,926 | ||||
Ball Corp. | 1,410,009 | 96,966 | ||||
Snap-on Inc. | 470,663 | 92,735 | ||||
Westrock Co. | 2,247,379 | 89,536 | ||||
Hubbell Inc. Class B | 236,635 | 42,258 | ||||
Fortune Brands Home & Security Inc. | 576,631 | 34,529 | ||||
* | Mohawk Industries Inc. | 238,093 | 29,545 | |||
3,097,809 | ||||||
Real Estate (12.3%) | ||||||
Welltower Inc. | 4,003,222 | 329,665 | ||||
VICI Properties Inc. | 8,492,171 | 252,982 | ||||
AvalonBay Communities Inc. | 1,232,956 | 239,502 | ||||
Equity Residential | 3,150,242 | 227,511 | ||||
Weyerhaeuser Co. | 6,565,262 | 217,442 | ||||
Alexandria Real Estate Equities Inc. | 1,439,323 | 208,745 | ||||
* | CBRE Group Inc. Class A | 2,738,278 | 201,565 | |||
Duke Realty Corp. | 3,390,251 | 186,294 | ||||
Ventas Inc. | 3,524,622 | 181,271 | ||||
Mid-America Apartment Communities Inc. | 1,017,876 | 177,792 | ||||
Essex Property Trust Inc. | 576,124 | 150,662 | ||||
WP Carey Inc. | 1,700,918 | 140,938 | ||||
Simon Property Group Inc. | 1,449,032 | 137,542 | ||||
UDR Inc. | 2,807,775 | 129,270 | ||||
Iron Mountain Inc. | 2,562,278 | 124,757 | ||||
Healthpeak Properties Inc. | 4,758,011 | 123,280 | ||||
Boston Properties Inc. | 1,243,750 | 110,669 | ||||
Camden Property Trust | 469,671 | 63,161 | ||||
Regency Centers Corp. | 760,059 | 45,079 | ||||
Host Hotels & Resorts Inc. | 1,575,543 | 24,705 | ||||
3,272,832 | ||||||
Technology (5.4%) | ||||||
Corning Inc. | 6,703,241 | 211,219 |
Shares | Market Value• ($000) | |||||
CDW Corp. | 1,191,491 | 187,731 | ||||
Hewlett Packard Enterprise Co. | 11,464,831 | 152,024 | ||||
Seagate Technology Holdings plc | 1,799,836 | 128,580 | ||||
NetApp Inc. | 1,962,388 | 128,026 | ||||
* | Western Digital Corp. | 2,761,628 | 123,804 | |||
Citrix Systems Inc. | 1,116,226 | 108,464 | ||||
NortonLifeLock Inc. | 4,845,872 | 106,415 | ||||
* | Qorvo Inc. | 934,988 | 88,188 | |||
Leidos Holdings Inc. | 602,556 | 60,684 | ||||
SS&C Technologies Holdings Inc. | 954,981 | 55,456 | ||||
* | UiPath Inc. Class A | 2,650,591 | 48,214 | |||
* | F5 Inc. | 266,678 | 40,812 | |||
1,439,617 | ||||||
Telecommunications (1.3%) | ||||||
Motorola Solutions Inc. | 737,625 | 154,606 | ||||
Lumen Technologies Inc. | 9,109,900 | 99,389 | ||||
Juniper Networks Inc. | 1,424,780 | 40,606 | ||||
* | DISH Network Corp. Class A | 2,185,587 | 39,188 | |||
333,789 | ||||||
Utilities (12.9%) | ||||||
Consolidated Edison Inc. | 3,124,260 | 297,117 | ||||
WEC Energy Group Inc. | 2,781,599 | 279,940 | ||||
Eversource Energy | 3,041,245 | 256,894 | ||||
American Water Works Co. Inc. | 1,602,779 | 238,445 | ||||
Edison International | 3,361,561 | 212,585 | ||||
Ameren Corp. | 2,275,952 | 205,655 | ||||
Entergy Corp. | 1,793,413 | 202,010 | ||||
* | PG&E Corp. | 18,478,356 | 184,414 | |||
DTE Energy Co. | 1,452,208 | 184,067 | ||||
FirstEnergy Corp. | 4,782,953 | 183,618 | ||||
PPL Corp. | 6,489,418 | 176,058 | ||||
CMS Energy Corp. | 2,558,444 | 172,695 | ||||
CenterPoint Energy Inc. | 5,550,597 | 164,187 | ||||
Evergy Inc. | 2,023,649 | 132,043 | ||||
Alliant Energy Corp. | 2,211,770 | 129,632 | ||||
AES Corp. | 5,889,464 | 123,739 | ||||
NiSource Inc. | 3,578,573 | 105,532 | ||||
Vistra Corp. | 3,807,939 | 87,011 | ||||
Constellation Energy Corp. | 1,440,317 | 82,473 | ||||
Avangrid Inc. | 681,793 | 31,444 | ||||
3,449,559 | ||||||
Total Common Stocks (Cost $22,018,753) | 26,582,779 | |||||
Temporary Cash Investments (0.5%) | ||||||
Money Market Fund (0.5%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 1.417% (Cost $132,205) | 1,322,404 | 132,201 | |||
Total Investments (100.3%) (Cost $22,150,958) | 26,714,980 | |||||
Other Assets and Liabilities—Net (-0.3%) | (67,404) | |||||
Net Assets (100%) | 26,647,576 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $93,525,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $97,133,000 was received for securities on loan, of which $97,107,000 is held in Vanguard Market Liquidity Fund and $26,000 is held in cash. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2022 | 46 | 8,716 | (347) |
E-mini S&P Mid-Cap 400 Index | September 2022 | 58 | 13,154 | (761) |
(1,108) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
State Street Corp. | 8/31/23 | BANA | 56,180 | (1.803) | — | (8,038) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $22,018,753) | 26,582,779 |
Affiliated Issuers (Cost $132,205) | 132,201 |
Total Investments in Securities | 26,714,980 |
Investment in Vanguard | 1,063 |
Cash | 8,329 |
Cash Collateral Pledged—Futures Contracts | 1,270 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 6,590 |
Receivables for Investment Securities Sold | 7,503 |
Receivables for Accrued Income | 56,116 |
Receivables for Capital Shares Issued | 8,695 |
Total Assets | 26,804,546 |
Liabilities | |
Payables for Investment Securities Purchased | 41,381 |
Collateral for Securities on Loan | 97,133 |
Payables for Capital Shares Redeemed | 9,445 |
Payables to Vanguard | 771 |
Variation Margin Payable—Futures Contracts | 202 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 8,038 |
Total Liabilities | 156,970 |
Net Assets | 26,647,576 |
1 Includes $93,525 of securities on loan. | |
At June 30, 2022, net assets consisted of: | |
Paid-in Capital | 24,421,250 |
Total Distributable Earnings (Loss) | 2,226,326 |
Net Assets | 26,647,576 |
Investor Shares—Net Assets | |
Applicable to 857,447 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 43,722 |
Net Asset Value Per Share—Investor Shares | $50.99 |
ETF Shares—Net Assets | |
Applicable to 116,467,489 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 15,082,941 |
Net Asset Value Per Share—ETF Shares | $129.50 |
Admiral Shares—Net Assets | |
Applicable to 171,729,610 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,520,913 |
Net Asset Value Per Share—Admiral Shares | $67.09 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 281,652 |
Interest1 | 121 |
Securities Lending—Net | 1,775 |
Total Income | 283,548 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 734 |
Management and Administrative—Investor Shares | 44 |
Management and Administrative—ETF Shares | 4,595 |
Management and Administrative—Admiral Shares | 3,657 |
Marketing and Distribution—Investor Shares | 2 |
Marketing and Distribution—ETF Shares | 247 |
Marketing and Distribution—Admiral Shares | 292 |
Custodian Fees | 42 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 301 |
Shareholders’ Reports—Admiral Shares | 76 |
Trustees’ Fees and Expenses | 7 |
Other Expenses | 155 |
Total Expenses | 10,152 |
Expenses Paid Indirectly | (3) |
Net Expenses | 10,149 |
Net Investment Income | 273,399 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 664,130 |
Futures Contracts | (6,020) |
Swap Contracts | (11,700) |
Realized Net Gain (Loss) | 646,410 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (4,883,547) |
Futures Contracts | (3,678) |
Swap Contracts | (15,252) |
Change in Unrealized Appreciation (Depreciation) | (4,902,477) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (3,982,668) |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $121,000, ($31,000), and ($3,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $1,008,531,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 273,399 | 514,018 | |
Realized Net Gain (Loss) | 646,410 | 1,280,568 | |
Change in Unrealized Appreciation (Depreciation) | (4,902,477) | 4,465,567 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (3,982,668) | 6,260,153 | |
Distributions | |||
Investor Shares | (407) | (965) | |
ETF Shares | (144,981) | (274,814) | |
Admiral Shares | (111,985) | (232,248) | |
Total Distributions | (257,373) | (508,027) | |
Capital Share Transactions | |||
Investor Shares | (6,509) | 2,483 | |
ETF Shares | 1,387,831 | 1,966,665 | |
Admiral Shares | 144,237 | 445,190 | |
Net Increase (Decrease) from Capital Share Transactions | 1,525,559 | 2,414,338 | |
Total Increase (Decrease) | (2,714,482) | 8,166,464 | |
Net Assets | |||
Beginning of Period | 29,362,058 | 21,195,594 | |
End of Period | 26,647,576 | 29,362,058 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $59.16 | $46.83 | $46.96 | $37.50 | $43.89 | $38.24 |
Investment Operations | ||||||
Net Investment Income1 | .491 | 1.006 | 1.0482 | .808 | 1.0013 | .771 |
Net Realized and Unrealized Gain (Loss) on Investments | (8.197) | 12.311 | (.122) | 9.566 | (6.415) | 5.646 |
Total from Investment Operations | (7.706) | 13.317 | .926 | 10.374 | (5.414) | 6.417 |
Distributions | ||||||
Dividends from Net Investment Income | (.464) | (.987) | (1.056) | (.914) | (.976) | (.767) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.464) | (.987) | (1.056) | (.914) | (.976) | (.767) |
Net Asset Value, End of Period | $50.99 | $59.16 | $46.83 | $46.96 | $37.50 | $43.89 |
Total Return4 | -13.07% | 28.59% | 2.43% | 27.82% | -12.53% | 16.91% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $44 | $57 | $43 | $52 | $508 | $682 |
Ratio of Total Expenses to Average Net Assets | 0.19%5 | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 1.84% | 1.83% | 2.58%2 | 1.90% | 2.29%3 | 1.92% |
Portfolio Turnover Rate6 | 7% | 17% | 39% | 17% | 17% | 17% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.142 and 0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 | Net investment income per share and the ratio of net investment income to average net assets include $.111 and 0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
4 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
5 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.19%. |
6 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $150.26 | $118.93 | $119.27 | $95.22 | $111.47 | $97.12 |
Investment Operations | ||||||
Net Investment Income1 | 1.359 | 2.744 | 2.7812 | 2.497 | 2.6453 | 2.116 |
Net Realized and Unrealized Gain (Loss) on Investments | (20.851) | 31.258 | (.310) | 23.996 | (16.278) | 14.306 |
Total from Investment Operations | (19.492) | 34.002 | 2.471 | 26.493 | (13.633) | 16.422 |
Distributions | ||||||
Dividends from Net Investment Income | (1.268) | (2.672) | (2.811) | (2.443) | (2.617) | (2.072) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.268) | (2.672) | (2.811) | (2.443) | (2.617) | (2.072) |
Net Asset Value, End of Period | $129.50 | $150.26 | $118.93 | $119.27 | $95.22 | $111.47 |
Total Return | -13.02% | 28.74% | 2.50% | 27.98% | -12.41% | 17.05% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $15,083 | $16,086 | $11,061 | $10,339 | $7,898 | $8,355 |
Ratio of Total Expenses to Average Net Assets | 0.07%4 | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.00% | 1.96% | 2.69%2 | 2.26% | 2.41%3 | 2.04% |
Portfolio Turnover Rate5 | 7% | 17% | 39% | 17% | 17% | 17% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.362 and 0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 | Net investment income per share and the ratio of net investment income to average net assets include $.282 and 0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $77.84 | $61.61 | $61.79 | $49.33 | $57.74 | $50.31 |
Investment Operations | ||||||
Net Investment Income1 | .699 | 1.413 | 1.4382 | 1.303 | 1.3853 | 1.096 |
Net Realized and Unrealized Gain (Loss) on Investments | (10.792) | 16.201 | (.162) | 12.422 | (8.439) | 7.407 |
Total from Investment Operations | (10.093) | 17.614 | 1.276 | 13.725 | (7.054) | 8.503 |
Distributions | ||||||
Dividends from Net Investment Income | (.657) | (1.384) | (1.456) | (1.265) | (1.356) | (1.073) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.657) | (1.384) | (1.456) | (1.265) | (1.356) | (1.073) |
Net Asset Value, End of Period | $67.09 | $77.84 | $61.61 | $61.79 | $49.33 | $57.74 |
Total Return4 | -13.02% | 28.76% | 2.54% | 27.99% | -12.42% | 17.04% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,521 | $13,218 | $10,092 | $11,148 | $7,738 | $8,134 |
Ratio of Total Expenses to Average Net Assets | 0.07%5 | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.99% | 1.95% | 2.69%2 | 2.28% | 2.41%3 | 2.04% |
Portfolio Turnover Rate6 | 7% | 17% | 39% | 17% | 17% | 17% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Net investment income per share and the ratio of net investment income to average net assets include $.187 and 0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 | Net investment income per share and the ratio of net investment income to average net assets include $.146 and 0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
4 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
5 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.07%. |
6 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 26,582,779 | — | — | 26,582,779 |
Temporary Cash Investments | 132,201 | — | — | 132,201 |
Total | 26,714,980 | — | — | 26,714,980 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 1,108 | — | — | 1,108 |
Swap Contracts | — | 8,038 | — | 8,038 |
Total | 1,108 | 8,038 | — | 9,146 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Tax Cost | 22,181,500 |
Gross Unrealized Appreciation | 5,927,144 |
Gross Unrealized Depreciation | (1,402,810) |
Net Unrealized Appreciation (Depreciation) | 4,524,334 |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 5,891 | 102 | 15,393 | 281 | |
Issued in Lieu of Cash Distributions | 407 | 8 | 965 | 17 | |
Redeemed | (12,807) | (224) | (13,875) | (252) | |
Net Increase (Decrease)—Investor Shares | (6,509) | (114) | 2,483 | 46 |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 3,625,952 | 26,086 | 3,658,900 | 25,904 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (2,238,121) | (16,675) | (1,692,235) | (11,850) | |
Net Increase (Decrease)—ETF Shares | 1,387,831 | 9,411 | 1,966,665 | 14,054 | |
Admiral Shares | |||||
Issued | 1,363,038 | 18,220 | 2,834,601 | 39,559 | |
Issued in Lieu of Cash Distributions | 99,436 | 1,390 | 205,615 | 2,818 | |
Redeemed | (1,318,237) | (17,694) | (2,595,026) | (36,366) | |
Net Increase (Decrease)—Admiral Shares | 144,237 | 1,916 | 445,190 | 6,011 |
Who Are Deaf or Hard of Hearing > 800-749-7273
All rights reserved.
U.S. Patent No. 6,879,964.
Vanguard Marketing Corporation, Distributor.
Vanguard Growth Index Fund |
Vanguard Value Index Fund |
Vanguard Large-Cap Index Fund |
About Your Fund’s Expenses | 1 |
Growth Index Fund | 3 |
Value Index Fund | 22 |
Large-Cap Index Fund | 42 |
Trustees Approve Advisory Arrangements | 63 |
Liquidity Risk Management | 65 |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended June 30, 2022 | |||
Beginning Account Value 12/31/2021 | Ending Account Value 6/30/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Growth Index Fund | |||
Investor Shares | $1,000.00 | $695.60 | $0.71 |
ETF Shares | 1,000.00 | 696.00 | 0.17 |
Admiral™ Shares | 1,000.00 | 696.00 | 0.21 |
Institutional Shares | 1,000.00 | 696.00 | 0.17 |
Value Index Fund | |||
Investor Shares | $1,000.00 | $905.60 | $0.80 |
ETF Shares | 1,000.00 | 906.10 | 0.19 |
Admiral Shares | 1,000.00 | 906.00 | 0.24 |
Institutional Shares | 1,000.00 | 906.20 | 0.19 |
Large-Cap Index Fund | |||
Investor Shares | $1,000.00 | $787.00 | $0.75 |
ETF Shares | 1,000.00 | 787.40 | 0.18 |
Admiral Shares | 1,000.00 | 787.40 | 0.22 |
Institutional Shares | 1,000.00 | 787.40 | 0.18 |
Based on Hypothetical 5% Yearly Return | |||
Growth Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.60 | 0.20 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Value Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.60 | 0.20 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Large-Cap Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.60 | 0.20 |
Admiral Shares | 1,000.00 | 1,024.55 | 0.25 |
Institutional Shares | 1,000.00 | 1,024.60 | 0.20 |
Basic Materials | 1.4% |
Consumer Discretionary | 22.4 |
Consumer Staples | 0.9 |
Energy | 1.3 |
Financials | 2.7 |
Health Care | 7.8 |
Industrials | 10.7 |
Real Estate | 2.9 |
Technology | 48.6 |
Telecommunications | 1.1 |
Utilities | 0.2 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Basic Materials (1.4%) | |||
Linde plc | 4,048,143 | 1,163,963 | |
Ecolab Inc. | 2,073,434 | 318,811 | |
Fastenal Co. | 4,642,033 | 231,730 | |
Albemarle Corp. | 944,508 | 197,383 | |
1,911,887 | |||
Consumer Discretionary (22.4%) | |||
* | Amazon.com Inc. | 69,751,180 | 7,408,273 |
* | Tesla Inc. | 7,102,393 | 4,782,893 |
Home Depot Inc. | 8,289,181 | 2,273,474 | |
Costco Wholesale Corp. | 3,574,790 | 1,713,325 | |
McDonald's Corp. | 5,964,695 | 1,472,564 | |
* | Walt Disney Co. | 14,690,843 | 1,386,816 |
NIKE Inc. Class B | 10,232,876 | 1,045,800 | |
Lowe's Cos. Inc. | 5,258,605 | 918,521 | |
Starbucks Corp. | 9,250,160 | 706,620 | |
* | Netflix Inc. | 3,483,209 | 609,109 |
* | Booking Holdings Inc. | 327,648 | 573,053 |
TJX Cos. Inc. | 8,998,502 | 502,566 | |
Dollar General Corp. | 1,845,274 | 452,904 | |
Estee Lauder Cos. Inc. Class A | 1,682,628 | 428,515 | |
* | AutoZone Inc. | 160,096 | 344,066 |
* | O'Reilly Automotive Inc. | 530,097 | 334,894 |
Marriott International Inc. Class A | 2,375,775 | 323,129 | |
* | Uber Technologies Inc. | 14,253,851 | 291,634 |
* | Chipotle Mexican Grill Inc. Class A | 214,253 | 280,084 |
Electronic Arts Inc. | 2,257,459 | 274,620 | |
Yum! Brands Inc. | 2,299,977 | 261,070 | |
* | Lululemon Athletica Inc. | 941,006 | 256,528 |
Hilton Worldwide Holdings Inc. | 2,244,799 | 250,160 | |
* | Airbnb Inc. Class A | 2,774,691 | 247,169 |
Activision Blizzard Inc. | 2,837,807 | 220,952 | |
Ross Stores Inc. | 2,834,056 | 199,036 | |
* | Aptiv plc | 2,185,168 | 194,633 |
* | Copart Inc. | 1,725,070 | 187,446 |
Tractor Supply Co. | 902,383 | 174,927 | |
* | Ulta Beauty Inc. | 421,302 | 162,403 |
* | Take-Two Interactive Software Inc. | 1,306,576 | 160,095 |
* | Trade Desk Inc. Class A | 3,544,011 | 148,459 |
Shares | Market Value• ($000) | ||
* | Expedia Group Inc. | 1,222,508 | 115,930 |
Domino's Pizza Inc. | 290,728 | 113,300 | |
* | Rivian Automotive Inc. Class A | 4,322,130 | 111,252 |
* | NVR Inc. | 25,200 | 100,904 |
* | Live Nation Entertainment Inc. | 1,195,584 | 98,731 |
* | Las Vegas Sands Corp. | 2,773,185 | 93,151 |
* | Roblox Corp. Class A | 2,404,028 | 78,996 |
* | Etsy Inc. | 1,025,514 | 75,078 |
* | Burlington Stores Inc. | 533,183 | 72,636 |
Rollins Inc. | 1,987,199 | 69,393 | |
* | Caesars Entertainment Inc. | 1,643,473 | 62,945 |
* | Royal Caribbean Cruises Ltd. | 1,749,023 | 61,058 |
Pool Corp. | 153,740 | 53,998 | |
1 | Sirius XM Holdings Inc. | 6,336,713 | 38,844 |
Vail Resorts Inc. | 163,186 | 35,583 | |
*,1 | AMC Entertainment Holdings Inc. Class A | 2,090,944 | 28,332 |
*,1 | Chewy Inc. Class A | 703,653 | 24,431 |
* | Wynn Resorts Ltd. | 419,438 | 23,900 |
Warner Music Group Corp. Class A | 938,470 | 22,861 | |
* | Endeavor Group Holdings Inc. Class A | 1,028,359 | 21,143 |
* | Lyft Inc. Class A | 1,159,237 | 15,395 |
*,1 | Wayfair Inc. Class A | 303,693 | 13,229 |
* | Carvana Co. Class A | 403,734 | 9,116 |
29,925,944 | |||
Consumer Staples (0.9%) | |||
* | Monster Beverage Corp. | 2,990,419 | 277,212 |
Colgate-Palmolive Co. | 3,379,389 | 270,824 | |
Hershey Co. | 1,177,536 | 253,359 | |
Church & Dwight Co. Inc. | 1,958,092 | 181,437 | |
Brown-Forman Corp. Class B | 2,375,251 | 166,647 | |
Lamb Weston Holdings Inc. | 291,519 | 20,832 | |
Brown-Forman Corp. Class A | 271,313 | 18,351 |
Shares | Market Value• ($000) | ||
* | Olaplex Holdings Inc. | 783,797 | 11,044 |
1,199,706 | |||
Energy (1.3%) | |||
Pioneer Natural Resources Co. | 1,854,054 | 413,602 | |
Cheniere Energy Inc. | 1,844,933 | 245,431 | |
* | Enphase Energy Inc. | 1,089,032 | 212,623 |
Diamondback Energy Inc. | 1,432,258 | 173,518 | |
Coterra Energy Inc. | 6,174,786 | 159,248 | |
Hess Corp. | 1,128,776 | 119,582 | |
Baker Hughes Co. Class A | 3,967,185 | 114,533 | |
Halliburton Co. | 3,277,140 | 102,771 | |
*,1 | Plug Power Inc. | 4,663,483 | 77,274 |
Marathon Oil Corp. | 2,851,503 | 64,102 | |
1,682,684 | |||
Financials (2.7%) | |||
S&P Global Inc. | 2,741,341 | 923,996 | |
Blackstone Inc. | 5,651,355 | 515,573 | |
Aon plc Class A (XNYS) | 1,627,213 | 438,827 | |
Moody's Corp. | 1,264,755 | 343,975 | |
MSCI Inc. Class A | 622,618 | 256,612 | |
First Republic Bank | 1,448,996 | 208,945 | |
* | SVB Financial Group | 474,713 | 187,507 |
Broadridge Financial Solutions Inc. | 945,377 | 134,764 | |
Apollo Global Management Inc. | 2,549,792 | 123,614 | |
FactSet Research Systems Inc. | 305,606 | 117,527 | |
MarketAxess Holdings Inc. | 289,279 | 74,058 | |
Ares Management Corp. Class A | 1,246,826 | 70,895 | |
* | Markel Corp. | 52,012 | 67,265 |
Tradeweb Markets Inc. Class A | 868,356 | 59,265 | |
*,1 | Coinbase Global Inc. Class A | 1,121,995 | 52,756 |
Interactive Brokers Group Inc. Class A | 375,638 | 20,664 | |
3,596,243 | |||
Health Care (7.8%) | |||
Thermo Fisher Scientific Inc. | 3,157,248 | 1,715,270 | |
Danaher Corp. | 2,638,755 | 668,977 | |
Zoetis Inc. | 3,416,185 | 587,208 | |
* | Vertex Pharmaceuticals Inc. | 2,062,743 | 581,260 |
* | Intuitive Surgical Inc. | 2,895,083 | 581,072 |
Stryker Corp. | 2,744,879 | 546,039 | |
* | Regeneron Pharmaceuticals Inc. | 827,705 | 489,281 |
* | Edwards Lifesciences Corp. | 5,014,514 | 476,830 |
* | Boston Scientific Corp. | 11,529,751 | 429,714 |
* | Moderna Inc. | 2,726,864 | 389,533 |
* | IQVIA Holdings Inc. | 1,526,515 | 331,239 |
Agilent Technologies Inc. | 2,411,345 | 286,395 | |
ResMed Inc. | 1,179,803 | 247,322 |
Shares | Market Value• ($000) | ||
* | IDEXX Laboratories Inc. | 677,537 | 237,633 |
* | DexCom Inc. | 3,165,656 | 235,936 |
* | Illumina Inc. | 1,267,023 | 233,588 |
* | Veeva Systems Inc. Class A | 1,127,650 | 223,320 |
* | Seagen Inc. | 1,113,453 | 197,014 |
West Pharmaceutical Services Inc. | 597,454 | 180,652 | |
* | Avantor Inc. | 4,886,742 | 151,978 |
* | Align Technology Inc. | 635,564 | 150,419 |
* | Horizon Therapeutics plc | 1,854,078 | 147,881 |
* | Catalent Inc. | 1,373,092 | 147,319 |
1 | PerkinElmer Inc. | 1,017,297 | 144,680 |
* | Alnylam Pharmaceuticals Inc. | 974,402 | 142,117 |
Cooper Cos. Inc. | 397,606 | 124,498 | |
* | BioMarin Pharmaceutical Inc. | 1,492,007 | 123,643 |
* | Insulet Corp. | 559,227 | 121,878 |
* | Incyte Corp. | 1,517,534 | 115,287 |
* | ABIOMED Inc. | 349,148 | 86,418 |
* | Bio-Rad Laboratories Inc. Class A | 170,561 | 84,428 |
STERIS plc | 403,844 | 83,252 | |
* | Exact Sciences Corp. | 1,421,251 | 55,983 |
Teleflex Inc. | 189,487 | 46,585 | |
* | Charles River Laboratories International Inc. | 205,329 | 43,934 |
* | Teladoc Health Inc. | 582,952 | 19,360 |
* | agilon health Inc. | 817,499 | 17,846 |
10,445,789 | |||
Industrials (10.7%) | |||
Visa Inc. Class A | 12,828,239 | 2,525,752 | |
Mastercard Inc. Class A | 7,004,158 | 2,209,672 | |
Accenture plc Class A | 5,342,716 | 1,483,405 | |
Automatic Data Processing Inc. | 3,369,188 | 707,664 | |
* | Boeing Co. | 4,771,711 | 652,388 |
* | PayPal Holdings Inc. | 9,339,943 | 652,302 |
United Parcel Service Inc. Class B | 2,961,844 | 540,655 | |
Union Pacific Corp. | 2,532,677 | 540,169 | |
Sherwin-Williams Co. | 1,888,244 | 422,797 | |
* | Fiserv Inc. | 4,691,924 | 417,441 |
Paychex Inc. | 2,620,417 | 298,387 | |
Cintas Corp. | 701,453 | 262,014 | |
* | Block Inc. (XNYS) | 4,184,291 | 257,167 |
Global Payments Inc. | 2,270,678 | 251,228 | |
* | TransDigm Group Inc. | 418,211 | 224,441 |
Verisk Analytics Inc. Class A | 1,273,507 | 220,431 | |
Old Dominion Freight Line Inc. | 822,833 | 210,876 | |
* | Mettler-Toledo International Inc. | 182,929 | 210,143 |
* | Keysight Technologies Inc. | 1,450,790 | 199,991 |
Rockwell Automation Inc. | 937,781 | 186,909 | |
Equifax Inc. | 986,696 | 180,348 | |
* | Waters Corp. | 485,930 | 160,833 |
Vulcan Materials Co. | 1,071,628 | 152,278 |
Shares | Market Value• ($000) | ||
* | Teledyne Technologies Inc. | 378,032 | 141,804 |
* | Zebra Technologies Corp. Class A | 423,531 | 124,497 |
TransUnion | 1,551,683 | 124,119 | |
* | Trimble Inc. | 2,017,289 | 117,467 |
* | Generac Holdings Inc. | 514,771 | 108,400 |
JB Hunt Transport Services Inc. | 676,137 | 106,471 | |
Ball Corp. | 1,289,541 | 88,682 | |
* | Bill.Com Holdings Inc. | 798,888 | 87,830 |
Martin Marietta Materials Inc. | 251,230 | 75,178 | |
Expeditors International of Washington Inc. | 676,139 | 65,897 | |
HEICO Corp. Class A | 591,505 | 62,333 | |
* | FleetCor Technologies Inc. | 296,541 | 62,306 |
Jack Henry & Associates Inc. | 294,269 | 52,974 | |
HEICO Corp. | 329,443 | 43,197 | |
Cognex Corp. | 664,180 | 28,241 | |
*,1 | Affirm Holdings Inc. | 727,299 | 13,135 |
14,269,822 | |||
Real Estate (2.9%) | |||
American Tower Corp. | 3,747,404 | 957,799 | |
Crown Castle International Corp. | 3,492,524 | 588,071 | |
Equinix Inc. | 734,128 | 482,337 | |
Public Storage | 1,203,314 | 376,240 | |
Digital Realty Trust Inc. | 2,295,931 | 298,081 | |
SBA Communications Corp. Class A | 869,686 | 278,343 | |
* | CoStar Group Inc. | 3,195,530 | 193,042 |
Invitation Homes Inc. | 4,921,952 | 175,123 | |
Realty Income Corp. | 2,425,873 | 165,590 | |
Sun Communities Inc. | 980,748 | 156,292 | |
UDR Inc. | 1,285,391 | 59,179 | |
Camden Property Trust | 429,179 | 57,716 | |
* | Zillow Group Inc. Class C | 1,300,777 | 41,300 |
* | Zillow Group Inc. Class A | 347,250 | 11,046 |
3,840,159 | |||
Technology (48.5%) | |||
Apple Inc. | 124,011,959 | 16,954,915 | |
Microsoft Corp. | 60,320,953 | 15,492,230 | |
* | Alphabet Inc. Class A | 2,426,946 | 5,288,946 |
* | Alphabet Inc. Class C | 2,147,137 | 4,696,755 |
* | Meta Platforms Inc. Class A | 18,497,990 | 2,982,801 |
NVIDIA Corp. | 19,185,914 | 2,908,393 | |
* | Adobe Inc. | 3,810,889 | 1,395,014 |
* | Salesforce Inc. | 7,615,462 | 1,256,856 |
Texas Instruments Inc. | 7,437,390 | 1,142,755 | |
* | Advanced Micro Devices Inc. | 13,069,900 | 999,455 |
Intuit Inc. | 2,161,295 | 833,049 | |
* | ServiceNow Inc. | 1,616,779 | 768,811 |
Applied Materials Inc. | 7,124,864 | 648,220 | |
QUALCOMM Inc. | 4,516,584 | 576,948 | |
Micron Technology Inc. | 9,006,238 | 497,865 |
Shares | Market Value• ($000) | ||
Lam Research Corp. | 1,118,796 | 476,775 | |
* | Palo Alto Networks Inc. | 803,579 | 396,920 |
KLA Corp. | 1,203,613 | 384,049 | |
* | Synopsys Inc. | 1,233,738 | 374,686 |
Roper Technologies Inc. | 854,249 | 337,129 | |
* | Cadence Design Systems Inc. | 2,224,092 | 333,680 |
* | Fortinet Inc. | 5,502,477 | 311,330 |
Amphenol Corp. Class A | 4,815,703 | 310,035 | |
* | Autodesk Inc. | 1,754,447 | 301,695 |
* | Snowflake Inc. Class A | 2,156,733 | 299,915 |
Marvell Technology Inc. | 6,860,915 | 298,656 | |
* | Crowdstrike Holdings Inc. Class A | 1,634,743 | 275,552 |
Microchip Technology Inc. | 4,472,140 | 259,742 | |
* | Workday Inc. Class A | 1,602,243 | 223,641 |
* | Datadog Inc. Class A | 2,055,029 | 195,721 |
* | Zoom Video Communications Inc. Class A | 1,725,597 | 186,313 |
* | Twitter Inc. | 4,930,654 | 184,357 |
* | ANSYS Inc. | 701,599 | 167,886 |
* | Match Group Inc. | 2,303,742 | 160,548 |
* | Gartner Inc. | 617,081 | 149,229 |
Monolithic Power Systems Inc. | 357,372 | 137,245 | |
* | MongoDB Inc. Class A | 521,688 | 135,378 |
* | DoorDash Inc. Class A | 2,071,149 | 132,906 |
* | EPAM Systems Inc. | 437,885 | 129,080 |
* | Palantir Technologies Inc. Class A | 14,140,969 | 128,259 |
* | VeriSign Inc. | 750,963 | 125,659 |
Skyworks Solutions Inc. | 1,297,949 | 120,242 | |
* | Twilio Inc. Class A | 1,386,089 | 116,168 |
* | Paycom Software Inc. | 413,072 | 115,710 |
Teradyne Inc. | 1,292,087 | 115,706 | |
* | Splunk Inc. | 1,297,995 | 114,821 |
* | Tyler Technologies Inc. | 334,504 | 111,216 |
* | HubSpot Inc. | 366,005 | 110,039 |
* | Okta Inc. | 1,215,815 | 109,910 |
* | Snap Inc. Class A | 8,353,967 | 109,687 |
* | Zscaler Inc. | 682,718 | 102,073 |
* | DocuSign Inc. Class A | 1,612,308 | 92,514 |
* | GoDaddy Inc. Class A | 1,304,540 | 90,744 |
* | Cloudflare Inc. Class A | 2,040,588 | 89,276 |
* | Pinterest Inc. Class A | 4,635,079 | 84,173 |
* | Black Knight Inc. | 1,195,348 | 78,164 |
* | ZoomInfo Technologies Inc. Class A | 2,278,246 | 75,729 |
* | Unity Software Inc. | 1,672,098 | 61,567 |
Bentley Systems Inc. Class B | 1,782,347 | 59,352 | |
* | Akamai Technologies Inc. | 647,136 | 59,103 |
SS&C Technologies Holdings Inc. | 873,798 | 50,741 | |
*,1 | AppLovin Corp. Class A | 1,450,991 | 49,972 |
* | Zendesk Inc. | 493,083 | 36,523 |
Shares | Market Value• ($000) | ||
* | IAC/InterActiveCorp. | 323,255 | 24,558 |
* | Dropbox Inc. Class A | 1,118,344 | 23,474 |
* | RingCentral Inc. Class A | 341,339 | 17,838 |
* | Coupa Software Inc. | 303,497 | 17,330 |
* | Toast Inc. Class A | 970,402 | 12,557 |
* | Qualtrics International Inc. Class A | 768,694 | 9,616 |
64,918,202 | |||
Telecommunications (1.1%) | |||
* | T-Mobile US Inc. | 5,055,311 | 680,141 |
* | Charter Communications Inc. Class A | 648,159 | 303,682 |
* | Arista Networks Inc. | 1,864,858 | 174,812 |
Motorola Solutions Inc. | 674,621 | 141,401 | |
* | Liberty Broadband Corp. Class C | 1,055,943 | 122,109 |
* | Roku Inc. | 966,621 | 79,398 |
* | Liberty Broadband Corp. Class A | 154,188 | 17,508 |
1,519,051 | |||
Utilities (0.2%) | |||
Waste Connections Inc. (XTSE) | 2,074,024 | 257,096 | |
Total Common Stocks (Cost $77,903,616) | 133,566,583 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.2%) | |||
Money Market Fund (0.2%) | |||
2,3 | Vanguard Market Liquidity Fund, 1.417% (Cost $318,498) | 3,186,204 | 318,525 |
Total Investments (100.1%) (Cost $78,222,114) | 133,885,108 | ||
Other Assets and Liabilities—Net (-0.1%) | (118,422) | ||
Net Assets (100%) | 133,766,686 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $154,885,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $167,114,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2022 | 407 | 77,116 | 883 |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Netflix Inc. | 8/31/22 | BANA | 17,487 | (0.820) | — | (13) |
Visa Inc. Class A | 8/31/22 | BANA | 87,616 | (0.720) | 112 | — |
112 | (13) |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $77,903,616) | 133,566,583 |
Affiliated Issuers (Cost $318,498) | 318,525 |
Total Investments in Securities | 133,885,108 |
Investment in Vanguard | 5,225 |
Cash Collateral Pledged—Futures Contracts | 4,275 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 7,950 |
Receivables for Investment Securities Sold | 31,533 |
Receivables for Accrued Income | 41,958 |
Receivables for Capital Shares Issued | 70,545 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 112 |
Total Assets | 134,046,706 |
Liabilities | |
Due to Custodian | 43,091 |
Payables for Investment Securities Purchased | 9,295 |
Collateral for Securities on Loan | 167,114 |
Payables for Capital Shares Redeemed | 57,431 |
Payables to Vanguard | 2,430 |
Variation Margin Payable—Futures Contracts | 646 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 13 |
Total Liabilities | 280,020 |
Net Assets | 133,766,686 |
1 Includes $154,885 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 81,233,508 |
Total Distributable Earnings (Loss) | 52,533,178 |
Net Assets | 133,766,686 |
Investor Shares—Net Assets | |
Applicable to 3,483,963 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 399,637 |
Net Asset Value Per Share—Investor Shares | $114.71 |
ETF Shares—Net Assets | |
Applicable to 300,925,914 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 67,032,301 |
Net Asset Value Per Share—ETF Shares | $222.75 |
Admiral Shares—Net Assets | |
Applicable to 411,463,227 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 47,179,552 |
Net Asset Value Per Share—Admiral Shares | $114.66 |
Institutional Shares—Net Assets | |
Applicable to 167,048,301 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 19,155,196 |
Net Asset Value Per Share—Institutional Shares | $114.67 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 440,352 |
Interest2 | 564 |
Securities Lending—Net | 3,205 |
Total Income | 444,121 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,094 |
Management and Administrative—Investor Shares | 406 |
Management and Administrative—ETF Shares | 12,707 |
Management and Administrative—Admiral Shares | 12,087 |
Management and Administrative—Institutional Shares | 3,919 |
Marketing and Distribution—Investor Shares | 18 |
Marketing and Distribution—ETF Shares | 1,094 |
Marketing and Distribution—Admiral Shares | 1,130 |
Marketing and Distribution—Institutional Shares | 346 |
Custodian Fees | 431 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 679 |
Shareholders’ Reports—Admiral Shares | 195 |
Shareholders’ Reports—Institutional Shares | 44 |
Trustees’ Fees and Expenses | 39 |
Other Expenses | 8 |
Total Expenses | 34,198 |
Net Investment Income | 409,923 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 57,824 |
Futures Contracts | (15,987) |
Swap Contracts | (51,347) |
Foreign Currencies | 2 |
Realized Net Gain (Loss) | (9,508) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (57,803,802) |
Futures Contracts | (1,970) |
Swap Contracts | (66) |
Change in Unrealized Appreciation (Depreciation) | (57,805,838) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (57,405,423) |
1 | Dividends are net of foreign withholding taxes of $143,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $552,000, ($39,000), and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $2,768,977,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 409,923 | 850,277 | |
Realized Net Gain (Loss) | (9,508) | 9,367,270 | |
Change in Unrealized Appreciation (Depreciation) | (57,805,838) | 29,618,234 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (57,405,423) | 39,835,781 | |
Distributions | |||
Investor Shares | (814) | (2,918) | |
ETF Shares | (182,755) | (426,504) | |
Admiral Shares | (128,381) | (323,130) | |
Institutional Shares | (52,988) | (132,576) | |
Total Distributions | (364,938) | (885,128) | |
Capital Share Transactions | |||
Investor Shares | (101,861) | (228,745) | |
ETF Shares | 4,848,884 | 3,475,469 | |
Admiral Shares | (364,360) | 24,196 | |
Institutional Shares | (102,683) | (697,636) | |
Net Increase (Decrease) from Capital Share Transactions | 4,279,980 | 2,573,284 | |
Total Increase (Decrease) | (53,490,381) | 41,523,937 | |
Net Assets | |||
Beginning of Period | 187,257,067 | 145,733,130 | |
End of Period | 133,766,686 | 187,257,067 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $165.20 | $130.50 | $93.87 | $69.10 | $72.36 | $57.32 |
Investment Operations | ||||||
Net Investment Income1 | .271 | .565 | .728 | .746 | .823 | .750 |
Net Realized and Unrealized Gain (Loss) on Investments | (50.535) | 34.731 | 36.631 | 24.802 | (3.271) | 15.037 |
Total from Investment Operations | (50.264) | 35.296 | 37.359 | 25.548 | (2.448) | 15.787 |
Distributions | ||||||
Dividends from Net Investment Income | (.226) | (.596) | (.729) | (.778) | (.812) | (.747) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.226) | (.596) | (.729) | (.778) | (.812) | (.747) |
Net Asset Value, End of Period | $114.71 | $165.20 | $130.50 | $93.87 | $69.10 | $72.36 |
Total Return2 | -30.44% | 27.10% | 40.01% | 37.08% | -3.46% | 27.65% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $400 | $692 | $750 | $572 | $2,654 | $3,210 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
Ratio of Net Investment Income to Average Net Assets | 0.42% | 0.39% | 0.69% | 0.92% | 1.08% | 1.15% |
Portfolio Turnover Rate3 | 3% | 8% | 6% | 11% | 11% | 8% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $320.83 | $253.44 | $182.31 | $134.21 | $140.55 | $111.33 |
Investment Operations | ||||||
Net Investment Income1 | .701 | 1.483 | 1.683 | 1.773 | 1.807 | 1.626 |
Net Realized and Unrealized Gain (Loss) on Investments | (98.160) | 67.447 | 71.131 | 48.065 | (6.373) | 29.200 |
Total from Investment Operations | (97.459) | 68.930 | 72.814 | 49.838 | (4.566) | 30.826 |
Distributions | ||||||
Dividends from Net Investment Income | (.621) | (1.540) | (1.684) | (1.738) | (1.774) | (1.606) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.621) | (1.540) | (1.684) | (1.738) | (1.774) | (1.606) |
Net Asset Value, End of Period | $222.75 | $320.83 | $253.44 | $182.31 | $134.21 | $140.55 |
Total Return | -30.40% | 27.26% | 40.16% | 37.26% | -3.32% | 27.80% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $67,032 | $90,506 | $68,474 | $46,481 | $32,489 | $31,399 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 0.55% | 0.52% | 0.81% | 1.09% | 1.21% | 1.27% |
Portfolio Turnover Rate2 | 3% | 8% | 6% | 11% | 11% | 8% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $165.15 | $130.46 | $93.84 | $69.09 | $72.35 | $57.31 |
Investment Operations | ||||||
Net Investment Income1 | .354 | .748 | .855 | .907 | .921 | .836 |
Net Realized and Unrealized Gain (Loss) on Investments | (50.532) | 34.720 | 36.621 | 24.728 | (3.274) | 15.032 |
Total from Investment Operations | (50.178) | 35.468 | 37.476 | 25.635 | (2.353) | 15.868 |
Distributions | ||||||
Dividends from Net Investment Income | (.312) | (.778) | (.856) | (.885) | (.907) | (.828) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.312) | (.778) | (.856) | (.885) | (.907) | (.828) |
Net Asset Value, End of Period | $114.66 | $165.15 | $130.46 | $93.84 | $69.09 | $72.35 |
Total Return2 | -30.40% | 27.26% | 40.19% | 37.23% | -3.34% | 27.80% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $47,180 | $68,372 | $53,928 | $38,103 | $25,609 | $26,013 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 0.54% | 0.51% | 0.80% | 1.08% | 1.20% | 1.27% |
Portfolio Turnover Rate3 | 3% | 8% | 6% | 11% | 11% | 8% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $165.16 | $130.47 | $93.85 | $69.09 | $72.35 | $57.31 |
Investment Operations | ||||||
Net Investment Income1 | .361 | .762 | .867 | .912 | .928 | .841 |
Net Realized and Unrealized Gain (Loss) on Investments | (50.532) | 34.721 | 36.620 | 24.742 | (3.274) | 15.032 |
Total from Investment Operations | (50.171) | 35.483 | 37.487 | 25.654 | (2.346) | 15.873 |
Distributions | ||||||
Dividends from Net Investment Income | (.319) | (.793) | (.867) | (.894) | (.914) | (.833) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.319) | (.793) | (.867) | (.894) | (.914) | (.833) |
Net Asset Value, End of Period | $114.67 | $165.16 | $130.47 | $93.85 | $69.09 | $72.35 |
Total Return | -30.40% | 27.27% | 40.20% | 37.26% | -3.33% | 27.81% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $19,155 | $27,688 | $22,582 | $16,426 | $12,400 | $12,495 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 0.55% | 0.52% | 0.82% | 1.09% | 1.21% | 1.28% |
Portfolio Turnover Rate2 | 3% | 8% | 6% | 11% | 11% | 8% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 133,566,583 | — | — | 133,566,583 |
Temporary Cash Investments | 318,525 | — | — | 318,525 |
Total | 133,885,108 | — | — | 133,885,108 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 883 | — | — | 883 |
Swap Contracts | — | 112 | — | 112 |
Total | 883 | 112 | — | 995 |
Liabilities | ||||
Swap Contracts | — | 13 | — | 13 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
D. | As of June 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 78,366,853 |
Gross Unrealized Appreciation | 62,792,853 |
Gross Unrealized Depreciation | (7,273,715) |
Net Unrealized Appreciation (Depreciation) | 55,519,138 |
E. | During the six months ended June 30, 2022, the fund purchased $12,436,932,000 of investment securities and sold $8,162,397,000 of investment securities, other than temporary cash investments. Purchases and sales include $7,400,884,000 and $3,608,172,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 27,330 | 201 | 72,222 | 492 | |
Issued in Lieu of Cash Distributions | 814 | 6 | 2,919 | 20 | |
Redeemed | (130,005) | (912) | (303,886) | (2,069) | |
Net Increase (Decrease)—Investor Shares | (101,861) | (705) | (228,745) | (1,557) | |
ETF Shares | |||||
Issued | 8,487,127 | 32,752 | 18,729,170 | 64,747 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (3,638,243) | (13,925) | (15,253,701) | (52,825) | |
Net Increase (Decrease)—ETF Shares | 4,848,884 | 18,827 | 3,475,469 | 11,922 | |
Admiral Shares | |||||
Issued | 4,521,739 | 33,189 | 9,587,947 | 66,521 | |
Issued in Lieu of Cash Distributions | 113,136 | 883 | 286,028 | 1,930 | |
Redeemed | (4,999,235) | (36,615) | (9,849,779) | (67,814) | |
Net Increase (Decrease)—Admiral Shares | (364,360) | (2,543) | 24,196 | 637 | |
Institutional Shares | |||||
Issued | 1,748,895 | 12,825 | 3,444,250 | 23,706 | |
Issued in Lieu of Cash Distributions | 51,030 | 399 | 126,911 | 856 | |
Redeemed | (1,902,608) | (13,823) | (4,268,797) | (29,999) | |
Net Increase (Decrease)—Institutional Shares | (102,683) | (599) | (697,636) | (5,437) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2022, that would require recognition or disclosure in these financial statements. |
Basic Materials | 2.3% |
Consumer Discretionary | 4.8 |
Consumer Staples | 11.6 |
Energy | 7.5 |
Financials | 18.6 |
Health Care | 21.4 |
Industrials | 13.0 |
Real Estate | 3.2 |
Technology | 6.5 |
Telecommunications | 4.5 |
Utilities | 6.6 |
Shares | Market Value• ($000) | ||
Common Stocks (99.7%) | |||
Basic Materials (2.3%) | |||
Air Products and Chemicals Inc. | 1,921,382 | 462,054 | |
Newmont Corp. | 6,865,319 | 409,654 | |
Freeport-McMoRan Inc. | 12,536,481 | 366,817 | |
Dow Inc. | 6,300,075 | 325,147 | |
International Flavors & Fragrances Inc. | 2,204,458 | 262,595 | |
Nucor Corp. | 2,301,200 | 240,268 | |
LyondellBasell Industries NV Class A | 2,265,999 | 198,184 | |
CF Industries Holdings Inc. | 1,809,225 | 155,105 | |
Mosaic Co. | 3,139,845 | 148,295 | |
International Paper Co. | 3,215,278 | 134,495 | |
FMC Corp. | 1,092,473 | 116,906 | |
Avery Dennison Corp. | 704,536 | 114,043 | |
Eastman Chemical Co. | 1,118,559 | 100,413 | |
Celanese Corp. Class A | 846,178 | 99,519 | |
Westlake Corp. | 139,131 | 13,638 | |
3,147,133 | |||
Consumer Discretionary (4.8%) | |||
Walmart Inc. | 11,916,963 | 1,448,864 | |
Target Corp. | 4,015,645 | 567,130 | |
Ford Motor Co. | 34,153,361 | 380,127 | |
* | General Motors Co. | 11,348,312 | 360,422 |
* | Dollar Tree Inc. | 1,853,854 | 288,923 |
* | Warner Bros Discovery Inc. | 18,892,357 | 253,535 |
Activision Blizzard Inc. | 3,042,923 | 236,922 | |
eBay Inc. | 4,840,192 | 201,691 | |
* | Southwest Airlines Co. | 5,125,021 | 185,116 |
DR Horton Inc. | 2,737,868 | 181,219 | |
Lennar Corp. Class A | 2,325,586 | 164,117 | |
Genuine Parts Co. | 1,223,142 | 162,678 | |
* | Delta Air Lines Inc. | 5,536,115 | 160,381 |
VF Corp. | 3,036,455 | 134,120 | |
Garmin Ltd. | 1,339,999 | 131,655 | |
* | CarMax Inc. | 1,392,277 | 125,973 |
Darden Restaurants Inc. | 1,082,579 | 122,461 | |
Best Buy Co. Inc. | 1,756,967 | 114,537 | |
Omnicom Group Inc. | 1,774,520 | 112,877 | |
Paramount Global Inc. Class B | 4,459,640 | 110,064 | |
LKQ Corp. | 2,085,726 | 102,388 |
Shares | Market Value• ($000) | ||
* | United Airlines Holdings Inc. | 2,834,045 | 100,382 |
Advance Auto Parts Inc. | 525,942 | 91,035 | |
Hasbro Inc. | 1,088,827 | 89,153 | |
*,1 | Lucid Group Inc. | 5,061,266 | 86,851 |
MGM Resorts International | 2,957,480 | 85,619 | |
Fox Corp. Class A | 2,643,879 | 85,027 | |
PulteGroup Inc. | 2,061,964 | 81,716 | |
Whirlpool Corp. | 487,684 | 75,528 | |
BorgWarner Inc. (XNYS) | 2,077,179 | 69,315 | |
News Corp. Class A | 4,334,987 | 67,539 | |
* | Carnival Corp. | 7,297,631 | 63,125 |
* | Liberty Media Corp.- Liberty SiriusXM Class C | 1,326,647 | 47,826 |
Interpublic Group of Cos. Inc. | 1,709,211 | 47,055 | |
Fox Corp. Class B | 1,320,460 | 39,218 | |
* | American Airlines Group Inc. | 2,815,970 | 35,707 |
*,1 | GameStop Corp. Class A | 281,530 | 34,431 |
Lear Corp. | 259,229 | 32,634 | |
Bath & Body Works Inc. | 982,700 | 26,454 | |
* | Liberty Media Corp.- Liberty SiriusXM Class A | 681,763 | 24,571 |
Paramount Global Class A | 112,899 | 3,078 | |
Lennar Corp. Class B | 15,603 | 916 | |
News Corp. Class B | 27,910 | 443 | |
6,732,823 | |||
Consumer Staples (11.6%) | |||
Procter & Gamble Co. | 20,771,589 | 2,986,747 | |
Coca-Cola Co. | 33,775,980 | 2,124,847 | |
PepsiCo Inc. | 11,970,112 | 1,994,939 | |
Philip Morris International Inc. | 13,421,222 | 1,325,211 | |
CVS Health Corp. | 11,350,400 | 1,051,728 | |
Mondelez International Inc. Class A | 11,981,426 | 743,927 | |
Altria Group Inc. | 15,677,130 | 654,834 | |
McKesson Corp. | 1,257,751 | 410,291 | |
Kimberly-Clark Corp. | 2,914,442 | 393,887 | |
General Mills Inc. | 5,209,799 | 393,079 | |
Archer-Daniels-Midland Co. | 4,867,443 | 377,714 | |
Sysco Corp. | 4,407,135 | 373,328 | |
Corteva Inc. | 6,275,332 | 339,746 |
Shares | Market Value• ($000) | ||
Constellation Brands Inc. Class A | 1,267,017 | 295,291 | |
Colgate-Palmolive Co. | 3,623,887 | 290,418 | |
Keurig Dr Pepper Inc. | 7,361,391 | 260,520 | |
Walgreens Boots Alliance Inc. | 6,351,003 | 240,703 | |
Kraft Heinz Co. | 5,838,303 | 222,673 | |
Kroger Co. | 4,612,499 | 218,310 | |
Tyson Foods Inc. Class A | 2,520,843 | 216,944 | |
AmerisourceBergen Corp. Class A | 1,362,207 | 192,725 | |
McCormick & Co. Inc. | 2,170,301 | 180,677 | |
Kellogg Co. | 2,197,695 | 156,784 | |
Clorox Co. | 1,062,518 | 149,794 | |
Conagra Brands Inc. | 4,141,060 | 141,790 | |
J M Smucker Co. | 893,643 | 114,395 | |
Hormel Foods Corp. | 2,365,641 | 112,037 | |
Campbell Soup Co. | 1,700,382 | 81,703 | |
Molson Coors Beverage Co. Class B | 782,507 | 42,654 | |
Lamb Weston Holdings Inc. | 313,136 | 22,377 | |
Albertsons Cos. Inc. Class A | 660,273 | 17,642 | |
16,127,715 | |||
Energy (7.4%) | |||
Exxon Mobil Corp. | 36,472,679 | 3,123,520 | |
Chevron Corp. | 15,311,338 | 2,216,775 | |
ConocoPhillips | 11,203,003 | 1,006,142 | |
EOG Resources Inc. | 5,075,296 | 560,516 | |
Schlumberger NV | 12,231,685 | 437,405 | |
Marathon Petroleum Corp. | 4,679,901 | 384,735 | |
Occidental Petroleum Corp. | 6,485,163 | 381,846 | |
Valero Energy Corp. | 3,530,109 | 375,180 | |
Phillips 66 | 4,161,497 | 341,201 | |
Williams Cos. Inc. | 10,536,766 | 328,852 | |
Devon Energy Corp. | 5,709,850 | 314,670 | |
Kinder Morgan Inc. | 17,653,795 | 295,878 | |
ONEOK Inc. | 3,861,492 | 214,313 | |
Hess Corp. | 1,209,816 | 128,168 | |
Baker Hughes Co. Class A | 4,250,921 | 122,724 | |
Halliburton Co. | 3,534,271 | 110,835 | |
Continental Resources Inc. | 471,897 | 30,838 | |
10,373,598 | |||
Financials (18.5%) | |||
* | Berkshire Hathaway Inc. Class B | 14,966,588 | 4,086,178 |
JPMorgan Chase & Co. | 25,428,744 | 2,863,531 | |
Bank of America Corp. | 59,299,592 | 1,845,996 | |
Wells Fargo & Co. | 32,821,276 | 1,285,609 | |
Morgan Stanley | 12,116,872 | 921,609 | |
Goldman Sachs Group Inc. | 2,848,842 | 846,163 | |
Charles Schwab Corp. | 13,369,794 | 844,704 | |
BlackRock Inc. | 1,246,014 | 758,872 | |
Citigroup Inc. | 15,958,499 | 733,931 | |
Chubb Ltd. | 3,487,214 | 685,517 | |
Marsh & McLennan Cos. Inc. | 4,355,030 | 676,118 | |
CME Group Inc. | 3,112,279 | 637,084 | |
Progressive Corp. | 5,065,041 | 588,912 |
Shares | Market Value• ($000) | ||
PNC Financial Services Group Inc. | 3,578,644 | 564,603 | |
Truist Financial Corp. | 11,520,878 | 546,435 | |
US Bancorp | 11,585,557 | 533,167 | |
Intercontinental Exchange Inc. | 4,836,007 | 454,778 | |
Travelers Cos. Inc. | 2,076,080 | 351,127 | |
American International Group Inc. | 6,853,667 | 350,428 | |
MetLife Inc. | 5,278,951 | 331,465 | |
Prudential Financial Inc. | 3,245,532 | 310,533 | |
Allstate Corp. | 2,378,711 | 301,454 | |
Arthur J Gallagher & Co. | 1,817,193 | 296,275 | |
Aflac Inc. | 5,016,273 | 277,550 | |
Bank of New York Mellon Corp. | 6,290,587 | 262,380 | |
M&T Bank Corp. | 1,552,219 | 247,408 | |
Discover Financial Services | 2,430,050 | 229,834 | |
Ameriprise Financial Inc. | 950,726 | 225,969 | |
KKR & Co. Inc. | 4,868,838 | 225,379 | |
T Rowe Price Group Inc. | 1,965,579 | 223,309 | |
Fifth Third Bancorp | 5,931,460 | 199,297 | |
Willis Towers Watson plc | 963,630 | 190,211 | |
Hartford Financial Services Group Inc. | 2,842,167 | 185,963 | |
Northern Trust Corp. | 1,718,573 | 165,808 | |
Cincinnati Financial Corp. | 1,321,916 | 157,282 | |
Nasdaq Inc. | 1,001,570 | 152,780 | |
Citizens Financial Group Inc. | 4,276,654 | 152,634 | |
Regions Financial Corp. | 8,124,427 | 152,333 | |
Raymond James Financial Inc. | 1,684,136 | 150,579 | |
Huntington Bancshares Inc. | 12,426,704 | 149,493 | |
Principal Financial Group Inc. | 2,181,349 | 145,692 | |
State Street Corp. | 2,339,645 | 144,239 | |
* | Arch Capital Group Ltd. | 3,080,487 | 140,131 |
KeyCorp. | 8,048,875 | 138,682 | |
W R Berkley Corp. | 1,715,280 | 117,085 | |
Loews Corp. | 1,803,420 | 106,871 | |
Cboe Global Markets Inc. | 921,245 | 104,276 | |
Everest Re Group Ltd. | 342,113 | 95,888 | |
Ally Financial Inc. | 2,662,543 | 89,222 | |
Equitable Holdings Inc. | 3,281,850 | 85,558 | |
Fidelity National Financial Inc. | 2,313,242 | 85,497 | |
Annaly Capital Management Inc. | 13,546,201 | 80,058 | |
* | Markel Corp. | 55,862 | 72,244 |
Franklin Resources Inc. | 2,602,556 | 60,666 | |
* | Alleghany Corp. | 55,407 | 46,160 |
Globe Life Inc. | 384,788 | 37,505 | |
Lincoln National Corp. | 671,336 | 31,398 | |
Interactive Brokers Group Inc. Class A | 405,126 | 22,286 | |
1 | Rocket Cos. Inc. Class A | 976,628 | 7,188 |
25,773,344 |
Shares | Market Value• ($000) | ||
Health Care (21.4%) | |||
UnitedHealth Group Inc. | 8,122,039 | 4,171,723 | |
Johnson & Johnson | 22,778,826 | 4,043,469 | |
Pfizer Inc. | 48,571,090 | 2,546,582 | |
Eli Lilly & Co. | 7,402,657 | 2,400,164 | |
AbbVie Inc. | 15,297,814 | 2,343,013 | |
Merck & Co. Inc. | 21,890,777 | 1,995,782 | |
Abbott Laboratories | 15,154,203 | 1,646,504 | |
Bristol-Myers Squibb Co. | 18,434,261 | 1,419,438 | |
Amgen Inc. | 4,623,418 | 1,124,878 | |
Medtronic plc | 11,610,807 | 1,042,070 | |
Elevance Health Inc. | 2,087,666 | 1,007,466 | |
Cigna Corp. | 2,747,637 | 724,057 | |
Danaher Corp. | 2,832,305 | 718,046 | |
Gilead Sciences Inc. | 10,860,984 | 671,317 | |
Becton Dickinson and Co. | 2,468,319 | 608,515 | |
Humana Inc. | 1,095,640 | 512,836 | |
* | Centene Corp. | 5,059,383 | 428,074 |
HCA Healthcare Inc. | 1,916,832 | 322,143 | |
Baxter International Inc. | 4,354,666 | 279,700 | |
* | Biogen Inc. | 1,266,671 | 258,325 |
Zimmer Biomet Holdings Inc. | 1,811,219 | 190,287 | |
Laboratory Corp. of America Holdings | 805,264 | 188,722 | |
* | Hologic Inc. | 2,163,178 | 149,908 |
Quest Diagnostics Inc. | 1,012,866 | 134,691 | |
Royalty Pharma plc Class A | 3,019,990 | 126,960 | |
Cardinal Health Inc. | 2,349,724 | 122,820 | |
Viatris Inc. | 10,515,873 | 110,101 | |
* | Henry Schein Inc. | 1,197,480 | 91,895 |
STERIS plc | 434,219 | 89,514 | |
* | Elanco Animal Health Inc. (XNYS) | 3,906,557 | 76,686 |
DENTSPLY SIRONA Inc. | 1,868,976 | 66,779 | |
Universal Health Services Inc. Class B | 553,227 | 55,716 | |
Teleflex Inc. | 203,438 | 50,015 | |
* | DaVita Inc. | 492,471 | 39,378 |
29,757,574 | |||
Industrials (12.9%) | |||
Raytheon Technologies Corp. | 12,880,174 | 1,237,914 | |
Honeywell International Inc. | 5,892,504 | 1,024,176 | |
Lockheed Martin Corp. | 2,303,505 | 990,415 | |
Caterpillar Inc. | 4,617,189 | 825,369 | |
Deere & Co. | 2,390,535 | 715,894 | |
American Express Co. | 4,889,975 | 677,848 | |
3M Co. | 4,929,094 | 637,874 | |
General Electric Co. | 9,531,067 | 606,843 | |
Union Pacific Corp. | 2,719,498 | 580,015 | |
United Parcel Service Inc. Class B | 3,176,870 | 579,906 | |
Northrop Grumman Corp. | 1,211,715 | 579,891 | |
CSX Corp. | 18,831,746 | 547,251 | |
Fidelity National Information Services Inc. | 5,289,759 | 484,912 | |
Norfolk Southern Corp. | 2,061,740 | 468,613 | |
FedEx Corp. | 2,017,772 | 457,449 |
Shares | Market Value• ($000) | ||
General Dynamics Corp. | 2,042,416 | 451,885 | |
Illinois Tool Works Inc. | 2,425,195 | 441,992 | |
Eaton Corp. plc | 3,456,774 | 435,519 | |
Emerson Electric Co. | 5,146,899 | 409,384 | |
L3Harris Technologies Inc. | 1,668,497 | 403,276 | |
Capital One Financial Corp. | 3,399,828 | 354,228 | |
Johnson Controls International plc | 6,018,026 | 288,143 | |
Parker-Hannifin Corp. | 1,110,658 | 273,277 | |
Trane Technologies plc | 2,023,035 | 262,732 | |
Carrier Global Corp. | 7,337,857 | 261,668 | |
Otis Worldwide Corp. | 3,657,682 | 258,488 | |
Cummins Inc. | 1,220,407 | 236,185 | |
PPG Industries Inc. | 2,042,751 | 233,568 | |
PACCAR Inc. | 2,706,156 | 222,825 | |
DuPont de Nemours Inc. | 3,957,994 | 219,985 | |
AMETEK Inc. | 1,996,700 | 219,417 | |
WW Grainger Inc. | 398,888 | 181,267 | |
Fortive Corp. | 3,109,137 | 169,075 | |
Dover Corp. | 1,245,534 | 151,108 | |
* | United Rentals Inc. | 618,428 | 150,222 |
Ingersoll Rand Inc. | 3,525,858 | 148,368 | |
Jacobs Engineering Group Inc. | 1,115,786 | 141,850 | |
Stanley Black & Decker Inc. | 1,309,401 | 137,304 | |
Westinghouse Air Brake Technologies Corp. | 1,497,166 | 122,887 | |
Xylem Inc. | 1,562,121 | 122,127 | |
Synchrony Financial | 4,351,174 | 120,179 | |
Textron Inc. | 1,867,421 | 114,043 | |
CH Robinson Worldwide Inc. | 1,104,067 | 111,919 | |
Packaging Corp. of America | 812,154 | 111,671 | |
Masco Corp. | 2,046,537 | 103,555 | |
Crown Holdings Inc. | 1,066,617 | 98,310 | |
Ball Corp. | 1,387,167 | 95,396 | |
Snap-on Inc. | 462,764 | 91,178 | |
Westrock Co. | 2,211,017 | 88,087 | |
Martin Marietta Materials Inc. | 269,769 | 80,726 | |
Expeditors International of Washington Inc. | 726,969 | 70,850 | |
Fortune Brands Home & Security Inc. | 1,134,643 | 67,942 | |
* | FleetCor Technologies Inc. | 318,802 | 66,984 |
Hubbell Inc. Class B | 232,680 | 41,552 | |
* | Mohawk Industries Inc. | 234,379 | 29,084 |
18,002,626 | |||
Real Estate (3.2%) | |||
Prologis Inc. | 6,406,791 | 753,759 | |
Welltower Inc. | 3,927,018 | 323,390 | |
Simon Property Group Inc. | 2,842,744 | 269,833 | |
VICI Properties Inc. | 8,326,563 | 248,048 | |
AvalonBay Communities Inc. | 1,209,330 | 234,912 | |
Equity Residential | 3,088,581 | 223,057 | |
Weyerhaeuser Co. | 6,438,079 | 213,229 | |
Alexandria Real Estate Equities Inc. | 1,410,690 | 204,592 |
Shares | Market Value• ($000) | ||
* | CBRE Group Inc. Class A | 2,684,310 | 197,592 |
Extra Space Storage Inc. | 1,160,644 | 197,449 | |
Duke Realty Corp. | 3,335,010 | 183,259 | |
Ventas Inc. | 3,466,528 | 178,284 | |
Realty Income Corp. | 2,599,507 | 177,442 | |
Mid-America Apartment Communities Inc. | 997,148 | 174,172 | |
Essex Property Trust Inc. | 566,635 | 148,181 | |
WP Carey Inc. | 1,665,184 | 137,977 | |
Iron Mountain Inc. | 2,520,841 | 122,740 | |
Healthpeak Properties Inc. | 4,680,364 | 121,268 | |
Boston Properties Inc. | 1,223,452 | 108,863 | |
UDR Inc. | 1,379,123 | 63,495 | |
Camden Property Trust | 462,547 | 62,203 | |
Host Hotels & Resorts Inc. | 3,100,321 | 48,613 | |
Regency Centers Corp. | 747,154 | 44,314 | |
4,436,672 | |||
Technology (6.5%) | |||
Broadcom Inc. | 3,357,214 | 1,630,968 | |
Intel Corp. | 35,405,976 | 1,324,537 | |
International Business Machines Corp. | 7,504,276 | 1,059,529 | |
Oracle Corp. | 12,702,557 | 887,528 | |
Analog Devices Inc. | 4,500,935 | 657,542 | |
QUALCOMM Inc. | 4,848,787 | 619,384 | |
TE Connectivity Ltd. | 2,786,456 | 315,287 | |
Cognizant Technology Solutions Corp. Class A | 4,507,560 | 304,215 | |
HP Inc. | 8,048,358 | 263,825 | |
VMware Inc. Class A | 1,820,393 | 207,488 | |
Corning Inc. | 6,572,366 | 207,095 | |
* | ON Semiconductor Corp. | 3,755,948 | 188,962 |
CDW Corp. | 1,167,843 | 184,005 | |
Hewlett Packard Enterprise Co. | 11,276,985 | 149,533 | |
Seagate Technology Holdings plc | 1,770,570 | 126,489 | |
NetApp Inc. | 1,919,936 | 125,257 | |
* | Western Digital Corp. | 2,716,662 | 121,788 |
Citrix Systems Inc. | 1,098,093 | 106,702 | |
NortonLifeLock Inc. | 4,767,153 | 104,687 | |
Dell Technologies Inc. Class C | 2,260,866 | 104,475 | |
* | Qorvo Inc. | 919,803 | 86,756 |
* | Akamai Technologies Inc. | 695,433 | 63,514 |
Leidos Holdings Inc. | 592,709 | 59,692 | |
SS&C Technologies Holdings Inc. | 938,761 | 54,514 | |
* | UiPath Inc. Class A | 2,607,310 | 47,427 |
* | F5 Inc. | 262,177 | 40,124 |
* | IAC/InterActiveCorp. | 346,537 | 26,326 |
9,067,649 | |||
Telecommunications (4.5%) | |||
Verizon Communications Inc. | 34,537,329 | 1,752,770 | |
Comcast Corp. Class A | 38,710,115 | 1,518,985 | |
Cisco Systems Inc. | 32,257,441 | 1,375,457 | |
AT&T Inc. | 61,990,190 | 1,299,314 |
Shares | Market Value• ($000) | ||
Motorola Solutions Inc. | 725,527 | 152,071 | |
Lumen Technologies Inc. | 8,960,897 | 97,763 | |
Juniper Networks Inc. | 1,401,015 | 39,929 | |
* | DISH Network Corp. Class A | 2,150,809 | 38,564 |
6,274,853 | |||
Utilities (6.6%) | |||
NextEra Energy Inc. | 16,580,111 | 1,284,295 | |
Duke Energy Corp. | 6,668,499 | 714,930 | |
Southern Co. | 9,202,264 | 656,213 | |
Dominion Energy Inc. | 7,029,987 | 561,063 | |
Waste Management Inc. | 3,595,995 | 550,115 | |
American Electric Power Co. Inc. | 4,443,880 | 426,346 | |
Sempra Energy (XNYS) | 2,719,619 | 408,677 | |
Exelon Corp. | 8,481,646 | 384,388 | |
Xcel Energy Inc. | 4,712,526 | 333,458 | |
Consolidated Edison Inc. | 3,065,467 | 291,526 | |
WEC Energy Group Inc. | 2,728,409 | 274,587 | |
Public Service Enterprise Group Inc. | 4,318,873 | 273,298 | |
Eversource Energy | 2,983,317 | 252,001 | |
American Water Works Co. Inc. | 1,576,139 | 234,482 | |
Republic Services Inc. Class A | 1,775,629 | 232,377 | |
Edison International | 3,295,138 | 208,385 | |
Ameren Corp. | 2,230,508 | 201,549 | |
Entergy Corp. | 1,763,769 | 198,671 | |
DTE Energy Co. | 1,427,778 | 180,971 | |
* | PG&E Corp. | 18,107,300 | 180,711 |
FirstEnergy Corp. | 4,704,335 | 180,599 | |
PPL Corp. | 6,382,236 | 173,150 | |
CMS Energy Corp. | 2,505,944 | 169,151 | |
CenterPoint Energy Inc. | 5,461,554 | 161,553 | |
Evergy Inc. | 1,990,670 | 129,891 | |
Alliant Energy Corp. | 2,164,488 | 126,861 | |
AES Corp. | 5,758,841 | 120,993 | |
NiSource Inc. | 3,520,616 | 103,823 | |
Vistra Corp. | 3,746,322 | 85,604 | |
Constellation Energy Corp. | 1,415,349 | 81,043 | |
Avangrid Inc. | 670,557 | 30,926 | |
9,211,637 | |||
Total Common Stocks (Cost $114,142,471) | 138,905,624 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
2,3 | Vanguard Market Liquidity Fund, 1.417% (Cost $391,268) | 3,913,952 | 391,278 |
Total Investments (100.0%) (Cost $114,533,739) | 139,296,902 | ||
Other Assets and Liabilities—Net (0.0%) | (32,245) | ||
Net Assets (100%) | 139,264,657 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $106,872,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $111,687,000 was received for securities on loan, of which $111,663,000 is held in Vanguard Market Liquidity Fund and $24,000 is held in cash. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2022 | 807 | 152,906 | (1,717) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Goldman Sachs Group Inc. | 8/31/23 | BANA | 37,128 | (1.420) | 203 | — |
International Business Machines Corp. | 8/31/22 | BANA | 39,533 | (0.820) | 436 | — |
Kroger Co. | 1/31/23 | GSI | 50,880 | (0.820) | — | (3,566) |
NextEra Energy Inc. | 8/31/22 | BANA | 32,921 | (0.820) | 159 | — |
State Street Corp. | 8/31/23 | BANA | 13,871 | (1.420) | 116 | — |
State Street Corp. | 8/31/23 | BANA | 13,871 | (1.420) | 117 | — |
State Street Corp. | 8/31/23 | BANA | 13,871 | (1.420) | 119 | — |
1,150 | (3,566) |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $114,142,471) | 138,905,624 |
Affiliated Issuers (Cost $391,268) | 391,278 |
Total Investments in Securities | 139,296,902 |
Investment in Vanguard | 5,407 |
Cash | 24 |
Cash Collateral Pledged—Futures Contracts | 8,480 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 9,100 |
Receivables for Investment Securities Sold | 8,413 |
Receivables for Accrued Income | 192,941 |
Receivables for Capital Shares Issued | 43,361 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 1,150 |
Total Assets | 139,565,778 |
Liabilities | |
Due to Custodian | 5,990 |
Payables for Investment Securities Purchased | 157,287 |
Collateral for Securities on Loan | 111,687 |
Payables for Capital Shares Redeemed | 18,903 |
Payables to Vanguard | 2,407 |
Variation Margin Payable—Futures Contracts | 1,281 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 3,566 |
Total Liabilities | 301,121 |
Net Assets | 139,264,657 |
1 Includes $106,872 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 116,301,812 |
Total Distributable Earnings (Loss) | 22,962,845 |
Net Assets | 139,264,657 |
Investor Shares—Net Assets | |
Applicable to 4,628,573 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 237,902 |
Net Asset Value Per Share—Investor Shares | $51.40 |
ETF Shares—Net Assets | |
Applicable to 719,297,415 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 94,740,412 |
Net Asset Value Per Share—ETF Shares | $131.71 |
Admiral Shares—Net Assets | |
Applicable to 579,018,608 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 29,751,496 |
Net Asset Value Per Share—Admiral Shares | $51.38 |
Institutional Shares—Net Assets | |
Applicable to 282,885,745 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 14,534,847 |
Net Asset Value Per Share—Institutional Shares | $51.38 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends | 1,775,852 |
Interest1 | 413 |
Securities Lending—Net | 2,423 |
Total Income | 1,778,688 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,089 |
Management and Administrative—Investor Shares | 187 |
Management and Administrative—ETF Shares | 16,165 |
Management and Administrative—Admiral Shares | 6,747 |
Management and Administrative—Institutional Shares | 2,619 |
Marketing and Distribution—Investor Shares | 9 |
Marketing and Distribution—ETF Shares | 1,421 |
Marketing and Distribution—Admiral Shares | 641 |
Marketing and Distribution—Institutional Shares | 242 |
Custodian Fees | 455 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 894 |
Shareholders’ Reports—Admiral Shares | 125 |
Shareholders’ Reports—Institutional Shares | 54 |
Trustees’ Fees and Expenses | 37 |
Other Expenses | 9 |
Total Expenses | 30,695 |
Net Investment Income | 1,747,993 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 1,860,805 |
Futures Contracts | (36,687) |
Swap Contracts | (8,154) |
Realized Net Gain (Loss) | 1,815,964 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (17,866,949) |
Futures Contracts | (1,580) |
Swap Contracts | (2,073) |
Change in Unrealized Appreciation (Depreciation) | (17,870,602) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (14,306,645) |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $401,000, ($56,000), and $3,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $2,235,631,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 1,747,993 | 2,885,192 | |
Realized Net Gain (Loss) | 1,815,964 | 3,151,239 | |
Change in Unrealized Appreciation (Depreciation) | (17,870,602) | 21,557,364 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (14,306,645) | 27,593,795 | |
Distributions | |||
Investor Shares | (2,781) | (5,928) | |
ETF Shares | (1,147,146) | (1,889,549) | |
Admiral Shares | (360,255) | (667,738) | |
Institutional Shares | (175,831) | (329,587) | |
Total Distributions | (1,686,013) | (2,892,802) | |
Capital Share Transactions | |||
Investor Shares | 722 | (68,271) | |
ETF Shares | 12,831,053 | 15,310,468 | |
Admiral Shares | 1,436,933 | 3,414,060 | |
Institutional Shares | 762,498 | (49,760) | |
Net Increase (Decrease) from Capital Share Transactions | 15,031,206 | 18,606,497 | |
Total Increase (Decrease) | (961,452) | 43,307,490 | |
Net Assets | |||
Beginning of Period | 140,226,109 | 96,918,619 | |
End of Period | 139,264,657 | 140,226,109 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $57.39 | $46.43 | $46.78 | $38.18 | $41.42 | $36.24 |
Investment Operations | ||||||
Net Investment Income1 | .634 | 1.177 | 1.142 | 1.093 | 1.009 | .918 |
Net Realized and Unrealized Gain (Loss) on Investments | (6.024) | 10.945 | (.362) | 8.623 | (3.261) | 5.166 |
Total from Investment Operations | (5.390) | 12.122 | .780 | 9.716 | (2.252) | 6.084 |
Distributions | ||||||
Dividends from Net Investment Income | (.600) | (1.162) | (1.130) | (1.116) | (.988) | (.904) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.600) | (1.162) | (1.130) | (1.116) | (.988) | (.904) |
Net Asset Value, End of Period | $51.40 | $57.39 | $46.43 | $46.78 | $38.18 | $41.42 |
Total Return2 | -9.44% | 26.31% | 2.18% | 25.67% | -5.55% | 16.99% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $238 | $264 | $273 | $328 | $1,381 | $1,626 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
Ratio of Net Investment Income to Average Net Assets | 2.28% | 2.22% | 2.75% | 2.58% | 2.43% | 2.40% |
Portfolio Turnover Rate3 | 2% | 9% | 10% | 12% | 8% | 9% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $147.08 | $118.98 | $119.90 | $97.84 | $106.14 | $92.87 |
Investment Operations | ||||||
Net Investment Income1 | 1.722 | 3.212 | 3.055 | 3.046 | 2.722 | 2.473 |
Net Realized and Unrealized Gain (Loss) on Investments | (15.464) | 28.045 | (.935) | 22.014 | (8.352) | 13.234 |
Total from Investment Operations | (13.742) | 31.257 | 2.120 | 25.060 | (5.630) | 15.707 |
Distributions | ||||||
Dividends from Net Investment Income | (1.628) | (3.157) | (3.040) | (3.000) | (2.670) | (2.437) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.628) | (3.157) | (3.040) | (3.000) | (2.670) | (2.437) |
Net Asset Value, End of Period | $131.71 | $147.08 | $118.98 | $119.90 | $97.84 | $106.14 |
Total Return | -9.39% | 26.47% | 2.23% | 25.85% | -5.39% | 17.12% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $94,740 | $92,776 | $61,580 | $55,909 | $41,510 | $36,560 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.42% | 2.35% | 2.87% | 2.76% | 2.56% | 2.52% |
Portfolio Turnover Rate2 | 2% | 9% | 10% | 12% | 8% | 9% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $57.38 | $46.41 | $46.77 | $38.17 | $41.41 | $36.23 |
Investment Operations | ||||||
Net Investment Income1 | .667 | 1.245 | 1.188 | 1.185 | 1.059 | .965 |
Net Realized and Unrealized Gain (Loss) on Investments | (6.035) | 10.951 | (.367) | 8.581 | (3.261) | 5.165 |
Total from Investment Operations | (5.368) | 12.196 | .821 | 9.766 | (2.202) | 6.130 |
Distributions | ||||||
Dividends from Net Investment Income | (.632) | (1.226) | (1.181) | (1.166) | (1.038) | (.950) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.632) | (1.226) | (1.181) | (1.166) | (1.038) | (.950) |
Net Asset Value, End of Period | $51.38 | $57.38 | $46.41 | $46.77 | $38.17 | $41.41 |
Total Return2 | -9.40% | 26.49% | 2.29% | 25.82% | -5.43% | 17.13% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $29,751 | $31,741 | $22,486 | $22,414 | $16,522 | $16,778 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 2.40% | 2.34% | 2.86% | 2.75% | 2.55% | 2.52% |
Portfolio Turnover Rate3 | 2% | 9% | 10% | 12% | 8% | 9% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $57.37 | $46.41 | $46.77 | $38.17 | $41.41 | $36.23 |
Investment Operations | ||||||
Net Investment Income1 | .670 | 1.250 | 1.193 | 1.189 | 1.063 | .969 |
Net Realized and Unrealized Gain (Loss) on Investments | (6.025) | 10.941 | (.368) | 8.581 | (3.260) | 5.165 |
Total from Investment Operations | (5.355) | 12.191 | .825 | 9.770 | (2.197) | 6.134 |
Distributions | ||||||
Dividends from Net Investment Income | (.635) | (1.231) | (1.185) | (1.170) | (1.043) | (.954) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.635) | (1.231) | (1.185) | (1.170) | (1.043) | (.954) |
Net Asset Value, End of Period | $51.38 | $57.37 | $46.41 | $46.77 | $38.17 | $41.41 |
Total Return | -9.38% | 26.48% | 2.30% | 25.83% | -5.42% | 17.14% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $14,535 | $15,446 | $12,579 | $12,481 | $9,789 | $10,085 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 2.41% | 2.35% | 2.87% | 2.76% | 2.56% | 2.53% |
Portfolio Turnover Rate2 | 2% | 9% | 10% | 12% | 8% | 9% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 138,905,624 | — | — | 138,905,624 |
Temporary Cash Investments | 391,278 | — | — | 391,278 |
Total | 139,296,902 | — | — | 139,296,902 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 1,150 | — | 1,150 |
Liabilities | ||||
Futures Contracts1 | 1,717 | — | — | 1,717 |
Swap Contracts | — | 3,566 | — | 3,566 |
Total | 1,717 | 3,566 | — | 5,283 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
D. | As of June 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 114,720,241 |
Gross Unrealized Appreciation | 29,598,953 |
Gross Unrealized Depreciation | (5,024,009) |
Net Unrealized Appreciation (Depreciation) | 24,574,944 |
E. | During the six months ended June 30, 2022, the fund purchased $23,228,360,000 of investment securities and sold $8,355,564,000 of investment securities, other than temporary cash investments. Purchases and sales include $17,788,417,000 and $5,327,348,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 38,544 | 689 | 42,557 | 819 | |
Issued in Lieu of Cash Distributions | 2,781 | 52 | 5,927 | 111 | |
Redeemed | (40,603) | (713) | (116,755) | (2,214) | |
Net Increase (Decrease)—Investor Shares | 722 | 28 | (68,271) | (1,284) | |
ETF Shares | |||||
Issued | 18,327,870 | 128,043 | 22,597,318 | 166,669 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (5,496,817) | (39,550) | (7,286,850) | (53,450) | |
Net Increase (Decrease)—ETF Shares | 12,831,053 | 88,493 | 15,310,468 | 113,219 | |
Admiral Shares | |||||
Issued | 4,031,251 | 71,983 | 6,495,181 | 125,044 | |
Issued in Connection with Acquisition of Vanguard Capital Value Fund | — | — | 1,035,654 | 21,626 | |
Issued in Lieu of Cash Distributions | 314,470 | 5,841 | 581,649 | 10,864 | |
Redeemed | (2,908,788) | (52,011) | (4,698,424) | (88,804) | |
Net Increase (Decrease)—Admiral Shares | 1,436,933 | 25,813 | 3,414,060 | 68,730 | |
Institutional Shares | |||||
Issued | 1,765,401 | 31,687 | 2,348,847 | 44,862 | |
Issued in Lieu of Cash Distributions | 169,070 | 3,140 | 315,580 | 5,897 | |
Redeemed | (1,171,973) | (21,152) | (2,714,187) | (52,572) | |
Net Increase (Decrease)—Institutional Shares | 762,498 | 13,675 | (49,760) | (1,813) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2022, that would require recognition or disclosure in these financial statements. |
Basic Materials | 1.8% |
Consumer Discretionary | 13.8 |
Consumer Staples | 6.2 |
Energy | 4.3 |
Financials | 10.5 |
Health Care | 14.5 |
Industrials | 11.8 |
Real Estate | 3.0 |
Technology | 27.9 |
Telecommunications | 2.8 |
Utilities | 3.4 |
Shares | Market Value• ($000) | ||
Common Stocks (99.7%) | |||
Basic Materials (1.8%) | |||
* | Linde plc | 534,715 | 153,747 |
Air Products and Chemicals Inc. | 236,224 | 56,807 | |
Newmont Corp. | 845,458 | 50,449 | |
Freeport-McMoRan Inc. | 1,543,930 | 45,175 | |
Ecolab Inc. | 273,862 | 42,109 | |
Dow Inc. | 775,634 | 40,031 | |
International Flavors & Fragrances Inc. | 271,479 | 32,339 | |
Fastenal Co. | 612,951 | 30,599 | |
Nucor Corp. | 283,453 | 29,595 | |
Albemarle Corp. | 124,788 | 26,078 | |
LyondellBasell Industries NV Class A | 279,198 | 24,419 | |
CF Industries Holdings Inc. | 221,793 | 19,014 | |
Mosaic Co. | 384,909 | 18,179 | |
International Paper Co. | 394,783 | 16,514 | |
FMC Corp. | 134,169 | 14,357 | |
Avery Dennison Corp. | 87,048 | 14,090 | |
Eastman Chemical Co. | 137,373 | 12,332 | |
Celanese Corp. Class A | 104,007 | 12,232 | |
Westlake Corp. | 16,990 | 1,665 | |
639,731 | |||
Consumer Discretionary (13.7%) | |||
* | Amazon.com Inc. | 9,212,870 | 978,499 |
* | Tesla Inc. | 937,870 | 631,580 |
Home Depot Inc. | 1,094,925 | 300,305 | |
Costco Wholesale Corp. | 472,171 | 226,302 | |
McDonald's Corp. | 787,855 | 194,506 | |
* | Walt Disney Co. | 1,940,412 | 183,175 |
Walmart Inc. | 1,466,312 | 178,274 | |
NIKE Inc. Class B | 1,351,605 | 138,134 | |
Lowe's Cos. Inc. | 694,659 | 121,336 | |
Starbucks Corp. | 1,221,780 | 93,332 | |
* | Netflix Inc. | 473,295 | 82,765 |
* | Booking Holdings Inc. | 43,252 | 75,647 |
Target Corp. | 494,016 | 69,770 | |
TJX Cos. Inc. | 1,188,639 | 66,385 | |
Dollar General Corp. | 243,742 | 59,824 | |
Activision Blizzard Inc. | 749,792 | 58,379 | |
Estee Lauder Cos. Inc. Class A | 222,273 | 56,606 | |
Ford Motor Co. | 4,206,626 | 46,820 | |
* | AutoZone Inc. | 21,169 | 45,495 |
* | General Motors Co. | 1,397,847 | 44,396 |
* | O'Reilly Automotive Inc. | 70,037 | 44,247 |
Shares | Market Value• ($000) | ||
Marriott International Inc. Class A | 313,752 | 42,673 | |
* | Uber Technologies Inc. | 1,881,466 | 38,495 |
* | Chipotle Mexican Grill Inc. Class A | 28,329 | 37,033 |
Electronic Arts Inc. | 298,141 | 36,269 | |
* | Dollar Tree Inc. | 228,317 | 35,583 |
Yum! Brands Inc. | 303,805 | 34,485 | |
* | Lululemon Athletica Inc. | 124,302 | 33,886 |
Hilton Worldwide Holdings Inc. | 296,524 | 33,045 | |
* | Airbnb Inc. Class A | 366,351 | 32,635 |
* | Warner Bros Discovery Inc. | 2,326,632 | 31,223 |
Ross Stores Inc. | 374,352 | 26,291 | |
* | Aptiv plc | 288,562 | 25,702 |
eBay Inc. | 596,391 | 24,852 | |
* | Copart Inc. | 227,839 | 24,757 |
Tractor Supply Co. | 119,202 | 23,107 | |
* | Southwest Airlines Co. | 631,627 | 22,814 |
DR Horton Inc. | 337,607 | 22,346 | |
* | Ulta Beauty Inc. | 55,606 | 21,435 |
* | Take-Two Interactive Software Inc. | 172,526 | 21,140 |
Genuine Parts Co. | 150,850 | 20,063 | |
* | Delta Air Lines Inc. | 682,921 | 19,784 |
* | Trade Desk Inc. Class A | 470,681 | 19,717 |
Lennar Corp. Class A | 276,626 | 19,521 | |
VF Corp. | 372,986 | 16,475 | |
Garmin Ltd. | 164,565 | 16,169 | |
* | CarMax Inc. | 171,003 | 15,472 |
* | Expedia Group Inc. | 161,464 | 15,312 |
Darden Restaurants Inc. | 132,879 | 15,031 | |
Domino's Pizza Inc. | 38,410 | 14,969 | |
* | Rivian Automotive Inc. Class A | 569,211 | 14,651 |
Best Buy Co. Inc. | 215,750 | 14,065 | |
Omnicom Group Inc. | 219,155 | 13,940 | |
Paramount Global Inc. Class B | 554,323 | 13,681 | |
* | NVR Inc. | 3,303 | 13,226 |
* | Live Nation Entertainment Inc. | 157,909 | 13,040 |
LKQ Corp. | 256,088 | 12,571 | |
* | United Airlines Holdings Inc. | 348,027 | 12,327 |
* | Las Vegas Sands Corp. | 366,608 | 12,314 |
Advance Auto Parts Inc. | 64,597 | 11,181 | |
Hasbro Inc. | 133,703 | 10,948 | |
Fox Corp. Class A | 338,824 | 10,897 |
Shares | Market Value• ($000) | ||
*,1 | Lucid Group Inc. | 621,810 | 10,670 |
MGM Resorts International | 363,265 | 10,517 | |
* | Roblox Corp. Class A | 317,439 | 10,431 |
PulteGroup Inc. | 253,063 | 10,029 | |
* | Etsy Inc. | 135,425 | 9,914 |
* | Burlington Stores Inc. | 70,427 | 9,594 |
Whirlpool Corp. | 59,879 | 9,273 | |
Rollins Inc. | 262,693 | 9,173 | |
BorgWarner Inc. (XNYS) | 255,515 | 8,527 | |
* | Caesars Entertainment Inc. | 216,932 | 8,308 |
* | Royal Caribbean Cruises Ltd. | 230,884 | 8,060 |
* | Carnival Corp. | 896,132 | 7,752 |
Pool Corp. | 20,349 | 7,147 | |
News Corp. Class A | 414,195 | 6,453 | |
* | Liberty Media Corp.- Liberty SiriusXM Class C | 166,783 | 6,013 |
Interpublic Group of Cos. Inc. | 209,576 | 5,770 | |
1 | Sirius XM Holdings Inc. | 838,031 | 5,137 |
Vail Resorts Inc. | 21,612 | 4,712 | |
Fox Corp. Class B | 149,207 | 4,431 | |
* | American Airlines Group Inc. | 345,887 | 4,386 |
*,1 | GameStop Corp. Class A | 34,530 | 4,223 |
Lear Corp. | 31,912 | 4,017 | |
*,1 | AMC Entertainment Holdings Inc. Class A | 276,305 | 3,744 |
Bath & Body Works Inc. | 120,710 | 3,250 | |
*,1 | Chewy Inc. Class A | 93,106 | 3,233 |
* | Wynn Resorts Ltd. | 55,794 | 3,179 |
Warner Music Group Corp. Class A | 124,173 | 3,025 | |
* | Liberty Media Corp.- Liberty SiriusXM Class A | 79,536 | 2,866 |
* | Endeavor Group Holdings Inc. Class A | 136,194 | 2,800 |
* | Lyft Inc. Class A | 154,182 | 2,048 |
News Corp. Class B | 125,740 | 1,998 | |
* | Wayfair Inc. Class A | 40,387 | 1,759 |
* | Carvana Co. Class A | 53,711 | 1,213 |
Lennar Corp. Class B | 14,351 | 843 | |
Paramount Global Class A | 7,880 | 215 | |
4,783,612 | |||
Consumer Staples (6.2%) | |||
Procter & Gamble Co. | 2,555,947 | 367,520 | |
Coca-Cola Co. | 4,156,262 | 261,470 | |
PepsiCo Inc. | 1,472,944 | 245,481 | |
Philip Morris International Inc. | 1,651,296 | 163,049 | |
CVS Health Corp. | 1,396,961 | 129,442 | |
Mondelez International Inc. Class A | 1,474,324 | 91,541 | |
Altria Group Inc. | 1,928,837 | 80,568 | |
Colgate-Palmolive Co. | 892,636 | 71,536 | |
McKesson Corp. | 154,888 | 50,526 | |
Kimberly-Clark Corp. | 358,893 | 48,504 | |
General Mills Inc. | 641,308 | 48,387 | |
Archer-Daniels-Midland Co. | 599,414 | 46,515 | |
Sysco Corp. | 542,710 | 45,973 | |
Corteva Inc. | 772,680 | 41,833 |
Shares | Market Value• ($000) | ||
* | Monster Beverage Corp. | 394,957 | 36,612 |
Constellation Brands Inc. Class A | 156,078 | 36,376 | |
Hershey Co. | 155,498 | 33,457 | |
Kroger Co. | 691,237 | 32,716 | |
Keurig Dr Pepper Inc. | 906,659 | 32,087 | |
Walgreens Boots Alliance Inc. | 781,935 | 29,635 | |
Kraft Heinz Co. | 717,458 | 27,364 | |
Tyson Foods Inc. Class A | 310,555 | 26,726 | |
Church & Dwight Co. Inc. | 258,600 | 23,962 | |
AmerisourceBergen Corp. Class A | 167,377 | 23,680 | |
McCormick & Co. Inc. | 266,530 | 22,189 | |
Brown-Forman Corp. Class B | 315,567 | 22,140 | |
Kellogg Co. | 269,900 | 19,255 | |
Clorox Co. | 131,066 | 18,478 | |
Conagra Brands Inc. | 511,106 | 17,500 | |
J M Smucker Co. | 109,804 | 14,056 | |
Hormel Foods Corp. | 290,231 | 13,745 | |
Campbell Soup Co. | 209,197 | 10,052 | |
Lamb Weston Holdings Inc. | 77,037 | 5,505 | |
Molson Coors Beverage Co. Class B | 96,164 | 5,242 | |
Brown-Forman Corp. Class A | 33,966 | 2,297 | |
Albertsons Cos. Inc. Class A | 81,065 | 2,166 | |
* | Olaplex Holdings Inc. | 103,519 | 1,459 |
2,149,044 | |||
Energy (4.3%) | |||
Exxon Mobil Corp. | 4,487,646 | 384,322 | |
Chevron Corp. | 1,884,613 | 272,854 | |
ConocoPhillips | 1,377,958 | 123,755 | |
EOG Resources Inc. | 623,961 | 68,910 | |
Pioneer Natural Resources Co. | 244,863 | 54,624 | |
Schlumberger NV | 1,505,694 | 53,844 | |
Marathon Petroleum Corp. | 576,434 | 47,389 | |
Occidental Petroleum Corp. | 799,255 | 47,060 | |
Valero Energy Corp. | 434,741 | 46,204 | |
Phillips 66 | 512,312 | 42,005 | |
Williams Cos. Inc. | 1,297,559 | 40,497 | |
Devon Energy Corp. | 703,128 | 38,749 | |
Kinder Morgan Inc. | 2,173,761 | 36,432 | |
Cheniere Energy Inc. | 243,556 | 32,400 | |
Hess Corp. | 298,433 | 31,616 | |
Baker Hughes Co. Class A | 1,048,524 | 30,271 | |
* | Enphase Energy Inc. | 143,793 | 28,074 |
Halliburton Co. | 864,759 | 27,119 | |
ONEOK Inc. | 475,782 | 26,406 | |
Diamondback Energy Inc. | 188,774 | 22,870 | |
Coterra Energy Inc. | 813,965 | 20,992 | |
* | Plug Power Inc. | 615,820 | 10,204 |
Marathon Oil Corp. | 375,561 | 8,443 | |
Continental Resources Inc. | 57,829 | 3,779 | |
1,498,819 |
Shares | Market Value• ($000) | ||
Financials (10.5%) | |||
* | Berkshire Hathaway Inc. Class B | 1,833,949 | 500,705 |
JPMorgan Chase & Co. | 3,128,891 | 352,344 | |
Bank of America Corp. | 7,295,616 | 227,113 | |
Wells Fargo & Co. | 4,037,940 | 158,166 | |
S&P Global Inc. | 362,104 | 122,051 | |
Morgan Stanley | 1,490,936 | 113,401 | |
Goldman Sachs Group Inc. | 365,820 | 108,656 | |
Charles Schwab Corp. | 1,645,340 | 103,953 | |
BlackRock Inc. | 153,293 | 93,362 | |
Citigroup Inc. | 1,965,820 | 90,408 | |
Chubb Ltd. | 428,662 | 84,266 | |
Marsh & McLennan Cos. Inc. | 535,565 | 83,146 | |
CME Group Inc. | 382,919 | 78,384 | |
Progressive Corp. | 623,079 | 72,445 | |
PNC Financial Services Group Inc. | 440,619 | 69,516 | |
Blackstone Inc. | 746,484 | 68,102 | |
Truist Financial Corp. | 1,418,349 | 67,272 | |
US Bancorp | 1,424,477 | 65,554 | |
Aon plc Class A (XNYS) | 214,962 | 57,971 | |
Intercontinental Exchange Inc. | 594,755 | 55,931 | |
Moody's Corp. | 167,092 | 45,444 | |
Travelers Cos. Inc. | 255,644 | 43,237 | |
American International Group Inc. | 844,026 | 43,155 | |
MetLife Inc. | 649,791 | 40,800 | |
Prudential Financial Inc. | 399,467 | 38,221 | |
Allstate Corp. | 292,947 | 37,125 | |
Arthur J Gallagher & Co. | 223,805 | 36,489 | |
Aflac Inc. | 617,634 | 34,174 | |
MSCI Inc. Class A | 82,238 | 33,894 | |
Bank of New York Mellon Corp. | 774,523 | 32,305 | |
M&T Bank Corp. | 191,060 | 30,453 | |
Discover Financial Services | 299,278 | 28,306 | |
Ameriprise Financial Inc. | 117,123 | 27,838 | |
KKR & Co. Inc. | 599,728 | 27,761 | |
First Republic Bank | 191,435 | 27,605 | |
T Rowe Price Group Inc. | 242,137 | 27,509 | |
* | SVB Financial Group | 62,707 | 24,769 |
Fifth Third Bancorp | 730,876 | 24,557 | |
Willis Towers Watson plc | 118,792 | 23,448 | |
Hartford Financial Services Group Inc. | 350,353 | 22,924 | |
State Street Corp. | 371,533 | 22,905 | |
Northern Trust Corp. | 210,887 | 20,346 | |
Cincinnati Financial Corp. | 162,414 | 19,324 | |
Citizens Financial Group Inc. | 527,745 | 18,835 | |
Nasdaq Inc. | 122,819 | 18,735 | |
Regions Financial Corp. | 995,176 | 18,660 | |
Raymond James Financial Inc. | 207,617 | 18,563 | |
Huntington Bancshares Inc. | 1,532,982 | 18,442 | |
Principal Financial Group Inc. | 269,191 | 17,979 | |
Broadridge Financial Solutions Inc. | 124,833 | 17,795 | |
* | Markel Corp. | 13,751 | 17,784 |
* | Arch Capital Group Ltd. | 380,229 | 17,297 |
KeyCorp. | 993,207 | 17,113 |
Shares | Market Value• ($000) | ||
Apollo Global Management Inc. | 337,106 | 16,343 | |
FactSet Research Systems Inc. | 40,374 | 15,527 | |
W R Berkley Corp. | 211,882 | 14,463 | |
Loews Corp. | 222,856 | 13,206 | |
Cboe Global Markets Inc. | 113,121 | 12,804 | |
Everest Re Group Ltd. | 41,993 | 11,770 | |
Ally Financial Inc. | 327,468 | 10,973 | |
Equitable Holdings Inc. | 406,173 | 10,589 | |
Fidelity National Financial Inc. | 284,039 | 10,498 | |
Annaly Capital Management Inc. | 1,662,710 | 9,827 | |
MarketAxess Holdings Inc. | 38,210 | 9,782 | |
Ares Management Corp. Class A | 164,188 | 9,336 | |
Tradeweb Markets Inc. Class A | 114,584 | 7,820 | |
Franklin Resources Inc. | 319,224 | 7,441 | |
*,1 | Coinbase Global Inc. Class A | 148,013 | 6,960 |
* | Alleghany Corp. | 6,759 | 5,631 |
Interactive Brokers Group Inc. Class A | 99,387 | 5,467 | |
Globe Life Inc. | 47,174 | 4,598 | |
Lincoln National Corp. | 82,362 | 3,852 | |
* | Berkshire Hathaway Inc. Class A | 6 | 2,454 |
1 | Rocket Cos. Inc. Class A | 121,731 | 896 |
3,656,775 | |||
Health Care (14.4%) | |||
UnitedHealth Group Inc. | 999,430 | 513,337 | |
Johnson & Johnson | 2,803,193 | 497,595 | |
Pfizer Inc. | 5,977,258 | 313,388 | |
Eli Lilly & Co. | 910,970 | 295,364 | |
AbbVie Inc. | 1,882,484 | 288,321 | |
Merck & Co. Inc. | 2,693,916 | 245,604 | |
Thermo Fisher Scientific Inc. | 417,050 | 226,575 | |
Abbott Laboratories | 1,865,335 | 202,669 | |
Danaher Corp. | 697,049 | 176,716 | |
Bristol-Myers Squibb Co. | 2,268,312 | 174,660 | |
Amgen Inc. | 569,193 | 138,485 | |
Medtronic plc | 1,428,975 | 128,250 | |
Elevance Health Inc. | 256,838 | 123,945 | |
Cigna Corp. | 337,996 | 89,069 | |
Gilead Sciences Inc. | 1,336,201 | 82,591 | |
Zoetis Inc. | 451,222 | 77,561 | |
* | Vertex Pharmaceuticals Inc. | 272,467 | 76,778 |
* | Intuitive Surgical Inc. | 382,371 | 76,746 |
Becton Dickinson and Co. | 303,703 | 74,872 | |
Stryker Corp. | 362,575 | 72,127 | |
* | Regeneron Pharmaceuticals Inc. | 109,315 | 64,619 |
Humana Inc. | 134,732 | 63,064 | |
* | Edwards Lifesciences Corp. | 662,353 | 62,983 |
* | Boston Scientific Corp. | 1,522,975 | 56,761 |
* | Centene Corp. | 623,061 | 52,717 |
* | Moderna Inc. | 360,122 | 51,443 |
* | IQVIA Holdings Inc. | 201,631 | 43,752 |
HCA Healthcare Inc. | 236,110 | 39,681 |
Shares | Market Value• ($000) | ||
Agilent Technologies Inc. | 318,521 | 37,831 | |
Baxter International Inc. | 536,421 | 34,454 | |
ResMed Inc. | 155,814 | 32,663 | |
* | Biogen Inc. | 155,984 | 31,811 |
* | IDEXX Laboratories Inc. | 89,485 | 31,385 |
* | DexCom Inc. | 417,635 | 31,126 |
* | Illumina Inc. | 167,369 | 30,856 |
* | Veeva Systems Inc. Class A | 148,899 | 29,488 |
* | Seagen Inc. | 147,050 | 26,019 |
West Pharmaceutical Services Inc. | 78,919 | 23,863 | |
Zimmer Biomet Holdings Inc. | 223,282 | 23,458 | |
Laboratory Corp. of America Holdings | 99,280 | 23,267 | |
STERIS plc | 106,658 | 21,988 | |
* | Avantor Inc. | 645,118 | 20,063 |
* | Align Technology Inc. | 83,924 | 19,862 |
* | Horizon Therapeutics plc | 244,865 | 19,530 |
* | Catalent Inc. | 181,270 | 19,448 |
PerkinElmer Inc. | 134,443 | 19,120 | |
* | Alnylam Pharmaceuticals Inc. | 128,699 | 18,771 |
* | Hologic Inc. | 265,512 | 18,400 |
Quest Diagnostics Inc. | 125,033 | 16,627 | |
Cooper Cos. Inc. | 52,512 | 16,443 | |
* | BioMarin Pharmaceutical Inc. | 197,031 | 16,328 |
* | Insulet Corp. | 73,856 | 16,096 |
Royalty Pharma plc Class A | 370,965 | 15,595 | |
* | Incyte Corp. | 200,692 | 15,247 |
Cardinal Health Inc. | 290,211 | 15,169 | |
Viatris Inc. | 1,291,308 | 13,520 | |
Teleflex Inc. | 49,993 | 12,291 | |
* | ABIOMED Inc. | 46,128 | 11,417 |
* | Henry Schein Inc. | 147,051 | 11,285 |
* | Bio-Rad Laboratories Inc. Class A | 22,535 | 11,155 |
* | Elanco Animal Health Inc. (XNYS) | 479,754 | 9,418 |
DENTSPLY SIRONA Inc. | 229,524 | 8,201 | |
* | Exact Sciences Corp. | 187,382 | 7,381 |
Universal Health Services Inc. Class B | 67,945 | 6,843 | |
* | Charles River Laboratories International Inc. | 27,032 | 5,784 |
* | DaVita Inc. | 60,477 | 4,836 |
* | Teladoc Health Inc. | 77,516 | 2,574 |
* | agilon health Inc. | 108,563 | 2,370 |
5,041,656 | |||
Industrials (11.8%) | |||
Visa Inc. Class A | 1,753,212 | 345,190 | |
Mastercard Inc. Class A | 925,136 | 291,862 | |
Accenture plc Class A | 705,646 | 195,923 | |
Raytheon Technologies Corp. | 1,584,319 | 152,269 | |
United Parcel Service Inc. Class B | 782,389 | 142,817 | |
Union Pacific Corp. | 669,077 | 142,701 | |
Honeywell International Inc. | 725,218 | 126,050 | |
Lockheed Martin Corp. | 283,506 | 121,896 | |
Caterpillar Inc. | 568,210 | 101,573 |
Shares | Market Value• ($000) | ||
Automatic Data Processing Inc. | 445,023 | 93,473 | |
Deere & Co. | 294,145 | 88,088 | |
* | Boeing Co. | 630,231 | 86,165 |
* | PayPal Holdings Inc. | 1,233,669 | 86,159 |
American Express Co. | 601,671 | 83,404 | |
3M Co. | 606,186 | 78,447 | |
General Electric Co. | 1,172,527 | 74,655 | |
Northrop Grumman Corp. | 149,044 | 71,328 | |
CSX Corp. | 2,316,354 | 67,313 | |
Fidelity National Information Services Inc. | 650,649 | 59,645 | |
Norfolk Southern Corp. | 253,910 | 57,711 | |
FedEx Corp. | 248,512 | 56,340 | |
Sherwin-Williams Co. | 249,400 | 55,843 | |
General Dynamics Corp. | 251,515 | 55,648 | |
* | Fiserv Inc. | 619,761 | 55,140 |
Illinois Tool Works Inc. | 298,600 | 54,420 | |
Eaton Corp. plc | 425,088 | 53,557 | |
Emerson Electric Co. | 632,628 | 50,319 | |
L3Harris Technologies Inc. | 205,469 | 49,662 | |
Capital One Financial Corp. | 418,742 | 43,629 | |
Paychex Inc. | 346,129 | 39,414 | |
Johnson Controls International plc | 741,139 | 35,486 | |
Cintas Corp. | 92,674 | 34,617 | |
* | Block Inc. (XNYS) | 552,631 | 33,965 |
Parker-Hannifin Corp. | 136,770 | 33,652 | |
Global Payments Inc. | 299,900 | 33,181 | |
Trane Technologies plc | 249,133 | 32,355 | |
Carrier Global Corp. | 903,655 | 32,224 | |
Otis Worldwide Corp. | 450,410 | 31,830 | |
* | TransDigm Group Inc. | 55,250 | 29,651 |
Verisk Analytics Inc. Class A | 168,220 | 29,117 | |
Cummins Inc. | 150,326 | 29,093 | |
PPG Industries Inc. | 251,530 | 28,760 | |
Old Dominion Freight Line Inc. | 108,693 | 27,856 | |
* | Mettler-Toledo International Inc. | 24,160 | 27,754 |
PACCAR Inc. | 333,177 | 27,434 | |
DuPont de Nemours Inc. | 487,537 | 27,097 | |
AMETEK Inc. | 246,037 | 27,037 | |
* | Keysight Technologies Inc. | 191,646 | 26,418 |
Rockwell Automation Inc. | 123,832 | 24,681 | |
Equifax Inc. | 130,309 | 23,818 | |
Ball Corp. | 340,650 | 23,426 | |
WW Grainger Inc. | 48,990 | 22,263 | |
* | Waters Corp. | 64,167 | 21,238 |
Fortive Corp. | 381,783 | 20,761 | |
Vulcan Materials Co. | 141,642 | 20,127 | |
Martin Marietta Materials Inc. | 66,303 | 19,840 | |
* | Teledyne Technologies Inc. | 49,888 | 18,713 |
Dover Corp. | 153,578 | 18,632 | |
* | United Rentals Inc. | 76,304 | 18,535 |
Ingersoll Rand Inc. | 432,478 | 18,199 | |
Jacobs Engineering Group Inc. | 137,022 | 17,420 |
Shares | Market Value• ($000) | ||
Expeditors International of Washington Inc. | 178,691 | 17,415 | |
Stanley Black & Decker Inc. | 160,868 | 16,869 | |
* | FleetCor Technologies Inc. | 78,287 | 16,449 |
* | Zebra Technologies Corp. Class A | 55,939 | 16,443 |
TransUnion | 204,919 | 16,391 | |
* | Trimble Inc. | 266,420 | 15,514 |
Westinghouse Air Brake Technologies Corp. | 184,840 | 15,172 | |
Xylem Inc. | 191,953 | 15,007 | |
Synchrony Financial | 534,796 | 14,771 | |
* | Generac Holdings Inc. | 67,969 | 14,313 |
JB Hunt Transport Services Inc. | 89,283 | 14,059 | |
Textron Inc. | 229,119 | 13,992 | |
CH Robinson Worldwide Inc. | 135,574 | 13,743 | |
Packaging Corp. of America | 99,775 | 13,719 | |
Masco Corp. | 251,342 | 12,718 | |
Crown Holdings Inc. | 130,974 | 12,072 | |
* | Bill.Com Holdings Inc. | 105,513 | 11,600 |
Snap-on Inc. | 56,826 | 11,196 | |
Westrock Co. | 271,777 | 10,828 | |
Fortune Brands Home & Security Inc. | 139,332 | 8,343 | |
HEICO Corp. Class A | 77,538 | 8,171 | |
Jack Henry & Associates Inc. | 38,899 | 7,003 | |
HEICO Corp. | 43,991 | 5,768 | |
Hubbell Inc. Class B | 28,614 | 5,110 | |
Cognex Corp. | 87,888 | 3,737 | |
* | Mohawk Industries Inc. | 28,751 | 3,568 |
* | Affirm Holdings Inc. | 96,816 | 1,748 |
4,111,540 | |||
Real Estate (3.0%) | |||
American Tower Corp. | 494,972 | 126,510 | |
Prologis Inc. | 787,938 | 92,701 | |
Crown Castle International Corp. | 461,282 | 77,671 | |
Equinix Inc. | 96,961 | 63,705 | |
Public Storage | 158,953 | 49,700 | |
Realty Income Corp. | 640,842 | 43,744 | |
Welltower Inc. | 483,590 | 39,824 | |
Digital Realty Trust Inc. | 303,271 | 39,374 | |
SBA Communications Corp. Class A | 114,852 | 36,758 | |
Simon Property Group Inc. | 350,138 | 33,235 | |
VICI Properties Inc. | 1,023,555 | 30,492 | |
AvalonBay Communities Inc. | 148,944 | 28,932 | |
Equity Residential | 380,526 | 27,482 | |
Weyerhaeuser Co. | 793,123 | 26,268 | |
* | CoStar Group Inc. | 422,058 | 25,496 |
Alexandria Real Estate Equities Inc. | 173,857 | 25,214 | |
* | CBRE Group Inc. Class A | 330,727 | 24,345 |
Extra Space Storage Inc. | 143,057 | 24,337 | |
Invitation Homes Inc. | 650,180 | 23,133 | |
Duke Realty Corp. | 409,561 | 22,505 | |
Ventas Inc. | 425,776 | 21,898 | |
Mid-America Apartment Communities Inc. | 122,944 | 21,475 |
Shares | Market Value• ($000) | ||
Sun Communities Inc. | 129,535 | 20,643 | |
Essex Property Trust Inc. | 69,614 | 18,205 | |
WP Carey Inc. | 205,414 | 17,021 | |
UDR Inc. | 339,284 | 15,621 | |
Camden Property Trust | 113,454 | 15,257 | |
Iron Mountain Inc. | 309,487 | 15,069 | |
Healthpeak Properties Inc. | 575,122 | 14,901 | |
Boston Properties Inc. | 150,386 | 13,381 | |
Host Hotels & Resorts Inc. | 380,606 | 5,968 | |
Regency Centers Corp. | 91,747 | 5,441 | |
* | Zillow Group Inc. Class C | 156,629 | 4,973 |
* | Zillow Group Inc. Class A | 61,163 | 1,946 |
1,053,225 | |||
Technology (27.8%) | |||
Apple Inc. | 16,380,279 | 2,239,512 | |
Microsoft Corp. | 7,967,376 | 2,046,261 | |
* | Alphabet Inc. Class A | 320,193 | 697,784 |
* | Alphabet Inc. Class C | 283,971 | 621,172 |
* | Meta Platforms Inc. Class A | 2,443,322 | 393,986 |
NVIDIA Corp. | 2,534,117 | 384,147 | |
Broadcom Inc. | 413,173 | 200,724 | |
* | Adobe Inc. | 503,325 | 184,247 |
* | Salesforce Inc. | 1,005,839 | 166,004 |
Intel Corp. | 4,355,914 | 162,955 | |
QUALCOMM Inc. | 1,193,159 | 152,414 | |
Texas Instruments Inc. | 982,343 | 150,937 | |
International Business Machines Corp. | 958,155 | 135,282 | |
* | Advanced Micro Devices Inc. | 1,726,337 | 132,013 |
Intuit Inc. | 285,485 | 110,037 | |
Oracle Corp. | 1,563,296 | 109,227 | |
* | ServiceNow Inc. | 213,521 | 101,533 |
Applied Materials Inc. | 941,052 | 85,617 | |
Analog Devices Inc. | 553,772 | 80,901 | |
Micron Technology Inc. | 1,189,569 | 65,759 | |
Lam Research Corp. | 147,748 | 62,963 | |
* | Palo Alto Networks Inc. | 106,130 | 52,422 |
KLA Corp. | 158,994 | 50,732 | |
* | Synopsys Inc. | 162,944 | 49,486 |
Roper Technologies Inc. | 112,829 | 44,528 | |
* | Cadence Design Systems Inc. | 293,779 | 44,076 |
* | Fortinet Inc. | 726,914 | 41,129 |
Amphenol Corp. Class A | 636,092 | 40,952 | |
* | Autodesk Inc. | 231,744 | 39,851 |
* | Snowflake Inc. Class A | 284,831 | 39,609 |
Marvell Technology Inc. | 906,206 | 39,447 | |
TE Connectivity Ltd. | 343,213 | 38,835 | |
Cognizant Technology Solutions Corp. Class A | 555,198 | 37,470 | |
* | Crowdstrike Holdings Inc. Class A | 215,894 | 36,391 |
Microchip Technology Inc. | 590,721 | 34,309 | |
HP Inc. | 991,940 | 32,516 | |
* | Workday Inc. Class A | 211,606 | 29,536 |
* | Datadog Inc. Class A | 271,390 | 25,847 |
VMware Inc. Class A | 224,284 | 25,564 | |
Corning Inc. | 809,968 | 25,522 | |
* | Zoom Video Communications Inc. Class A | 227,872 | 24,603 |
Shares | Market Value• ($000) | ||
* | Twitter Inc. | 651,862 | 24,373 |
* | ON Semiconductor Corp. | 462,851 | 23,286 |
CDW Corp. | 143,935 | 22,678 | |
* | ANSYS Inc. | 92,681 | 22,178 |
* | Match Group Inc. | 304,177 | 21,198 |
* | Gartner Inc. | 81,497 | 19,708 |
Hewlett Packard Enterprise Co. | 1,385,992 | 18,378 | |
Monolithic Power Systems Inc. | 47,212 | 18,131 | |
* | MongoDB Inc. Class A | 68,865 | 17,870 |
* | DoorDash Inc. Class A | 273,510 | 17,551 |
* | EPAM Systems Inc. | 57,852 | 17,054 |
* | Palantir Technologies Inc. Class A | 1,866,333 | 16,928 |
* | VeriSign Inc. | 99,167 | 16,594 |
Skyworks Solutions Inc. | 171,437 | 15,882 | |
* | Akamai Technologies Inc. | 170,751 | 15,595 |
Seagate Technology Holdings plc | 217,432 | 15,533 | |
NetApp Inc. | 236,982 | 15,461 | |
* | Twilio Inc. Class A | 183,087 | 15,345 |
* | Paycom Software Inc. | 54,571 | 15,286 |
Teradyne Inc. | 170,633 | 15,280 | |
* | Splunk Inc. | 171,425 | 15,164 |
* | Western Digital Corp. | 333,517 | 14,952 |
* | Tyler Technologies Inc. | 44,148 | 14,678 |
* | HubSpot Inc. | 48,340 | 14,533 |
* | Okta Inc. | 160,585 | 14,517 |
* | Snap Inc. Class A | 1,104,987 | 14,508 |
* | Zscaler Inc. | 90,163 | 13,480 |
SS&C Technologies Holdings Inc. | 230,719 | 13,398 | |
Citrix Systems Inc. | 134,858 | 13,104 | |
NortonLifeLock Inc. | 585,362 | 12,855 | |
Dell Technologies Inc. Class C | 277,631 | 12,829 | |
* | DocuSign Inc. Class A | 212,898 | 12,216 |
* | GoDaddy Inc. Class A | 172,318 | 11,986 |
* | Cloudflare Inc. Class A | 269,634 | 11,796 |
* | Pinterest Inc. Class A | 612,141 | 11,116 |
* | Qorvo Inc. | 112,932 | 10,652 |
* | Black Knight Inc. | 157,812 | 10,319 |
* | ZoomInfo Technologies Inc. Class A | 300,718 | 9,996 |
* | Unity Software Inc. | 220,701 | 8,126 |
Bentley Systems Inc. Class B | 235,063 | 7,828 | |
Leidos Holdings Inc. | 72,854 | 7,337 | |
*,1 | AppLovin Corp. Class A | 191,277 | 6,588 |
* | IAC/InterActiveCorp. | 85,101 | 6,465 |
* | UiPath Inc. Class A | 320,105 | 5,823 |
* | F5 Inc. | 32,279 | 4,940 |
* | Zendesk Inc. | 65,260 | 4,834 |
* | Dropbox Inc. Class A | 149,567 | 3,139 |
* | RingCentral Inc. Class A | 45,404 | 2,373 |
* | Coupa Software Inc. | 40,361 | 2,305 |
* | Toast Inc. Class A | 127,797 | 1,654 |
* | Qualtrics International Inc. Class A | 101,614 | 1,271 |
9,695,391 | |||
Telecommunications (2.8%) | |||
Verizon Communications Inc. | 4,249,336 | 215,654 | |
Comcast Corp. Class A | 4,762,697 | 186,888 | |
Cisco Systems Inc. | 3,970,182 | 169,289 |
Shares | Market Value• ($000) | ||
AT&T Inc. | 7,626,217 | 159,845 | |
* | T-Mobile US Inc. | 667,719 | 89,835 |
* | Charter Communications Inc. Class A | 85,741 | 40,172 |
Motorola Solutions Inc. | 178,205 | 37,352 | |
* | Arista Networks Inc. | 246,303 | 23,088 |
* | Liberty Broadband Corp. Class C | 139,241 | 16,102 |
Lumen Technologies Inc. | 1,100,274 | 12,004 | |
* | Roku Inc. | 127,680 | 10,488 |
Juniper Networks Inc. | 171,725 | 4,894 | |
* | DISH Network Corp. Class A | 264,001 | 4,734 |
* | Liberty Broadband Corp. Class A | 20,591 | 2,338 |
972,683 | |||
Utilities (3.4%) | |||
NextEra Energy Inc. | 2,092,741 | 162,104 | |
Duke Energy Corp. | 820,278 | 87,942 | |
Southern Co. | 1,131,849 | 80,712 | |
Dominion Energy Inc. | 864,209 | 68,973 | |
Waste Management Inc. | 442,264 | 67,658 | |
American Electric Power Co. Inc. | 547,032 | 52,482 | |
Sempra Energy (XNYS) | 334,826 | 50,314 | |
Exelon Corp. | 1,044,126 | 47,320 | |
Xcel Energy Inc. | 580,275 | 41,060 | |
Consolidated Edison Inc. | 377,612 | 35,911 | |
Waste Connections Inc. (XTSE) | 273,858 | 33,947 | |
WEC Energy Group Inc. | 336,184 | 33,834 | |
Public Service Enterprise Group Inc. | 531,849 | 33,655 | |
Eversource Energy | 367,382 | 31,033 | |
American Water Works Co. Inc. | 193,558 | 28,796 | |
Republic Services Inc. Class A | 218,801 | 28,634 | |
Edison International | 406,041 | 25,678 | |
Ameren Corp. | 274,916 | 24,841 | |
Entergy Corp. | 216,631 | 24,401 | |
* | PG&E Corp. | 2,231,718 | 22,273 |
DTE Energy Co. | 175,457 | 22,239 | |
FirstEnergy Corp. | 577,895 | 22,185 | |
PPL Corp. | 783,840 | 21,266 | |
CMS Energy Corp. | 308,975 | 20,856 | |
CenterPoint Energy Inc. | 670,427 | 19,831 | |
Evergy Inc. | 244,366 | 15,945 | |
Alliant Energy Corp. | 267,076 | 15,653 | |
AES Corp. | 711,192 | 14,942 | |
NiSource Inc. | 432,661 | 12,759 | |
Vistra Corp. | 460,816 | 10,530 | |
Constellation Energy Corp. | 173,331 | 9,925 | |
Avangrid Inc. | 82,560 | 3,808 | |
1,171,507 | |||
Total Common Stocks (Cost $21,734,005) | 34,773,983 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
2,3 | Vanguard Market Liquidity Fund, 1.417% (Cost $115,644) | 1,156,831 | 115,648 |
Total Investments (100.0%) (Cost $21,849,649) | 34,889,631 | ||
Other Assets and Liabilities—Net (0.0%) | (308) | ||
Net Assets (100%) | 34,889,323 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $30,874,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $32,905,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | September 2022 | 610 | 115,580 | (176) |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $21,734,005) | 34,773,983 |
Affiliated Issuers (Cost $115,644) | 115,648 |
Total Investments in Securities | 34,889,631 |
Investment in Vanguard | 1,354 |
Cash Collateral Pledged—Futures Contracts | 6,197 |
Receivables for Investment Securities Sold | 662 |
Receivables for Accrued Income | 31,635 |
Receivables for Capital Shares Issued | 6,042 |
Total Assets | 34,935,521 |
Liabilities | |
Due to Custodian | 4,775 |
Payables for Investment Securities Purchased | 118 |
Collateral for Securities on Loan | 32,905 |
Payables for Capital Shares Redeemed | 6,848 |
Payables to Vanguard | 613 |
Variation Margin Payable—Futures Contracts | 939 |
Total Liabilities | 46,198 |
Net Assets | 34,889,323 |
1 Includes $30,874 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 22,427,183 |
Total Distributable Earnings (Loss) | 12,462,140 |
Net Assets | 34,889,323 |
Investor Shares—Net Assets | |
Applicable to 378,660 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 26,358 |
Net Asset Value Per Share—Investor Shares | $69.61 |
ETF Shares—Net Assets | |
Applicable to 136,429,332 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 23,511,416 |
Net Asset Value Per Share—ETF Shares | $172.33 |
Admiral Shares—Net Assets | |
Applicable to 106,781,461 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 9,293,251 |
Net Asset Value Per Share—Admiral Shares | $87.03 |
Institutional Shares—Net Assets | |
Applicable to 5,746,232 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,058,298 |
Net Asset Value Per Share—Institutional Shares | $358.20 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 280,865 |
Interest2 | 252 |
Securities Lending—Net | 740 |
Total Income | 281,857 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 761 |
Management and Administrative—Investor Shares | 24 |
Management and Administrative—ETF Shares | 4,033 |
Management and Administrative—Admiral Shares | 2,115 |
Management and Administrative—Institutional Shares | 355 |
Marketing and Distribution—Investor Shares | 1 |
Marketing and Distribution—ETF Shares | 289 |
Marketing and Distribution—Admiral Shares | 202 |
Marketing and Distribution—Institutional Shares | 39 |
Custodian Fees | 211 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 166 |
Shareholders’ Reports—Admiral Shares | 31 |
Shareholders’ Reports—Institutional Shares | 2 |
Trustees’ Fees and Expenses | 10 |
Other Expenses | 8 |
Total Expenses | 8,247 |
Net Investment Income | 273,610 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | (12,227) |
Futures Contracts | (19,587) |
Foreign Currencies | 1 |
Realized Net Gain (Loss) | (31,813) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (9,439,380) |
Futures Contracts | (3,294) |
Change in Unrealized Appreciation (Depreciation) | (9,442,674) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (9,200,877) |
1 | Dividends are net of foreign withholding taxes of $32,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $244,000, ($35,000), and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $391,692,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 273,610 | 498,374 | |
Realized Net Gain (Loss) | (31,813) | 1,005,712 | |
Change in Unrealized Appreciation (Depreciation) | (9,442,674) | 7,408,096 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (9,200,877) | 8,912,182 | |
Distributions | |||
Investor Shares | (190) | (430) | |
ETF Shares | (180,734) | (325,818) | |
Admiral Shares | (72,566) | (138,853) | |
Institutional Shares | (16,111) | (30,532) | |
Total Distributions | (269,601) | (495,633) | |
Capital Share Transactions | |||
Investor Shares | (1,502) | (9,719) | |
ETF Shares | 1,596,836 | 1,199,308 | |
Admiral Shares | 27,967 | 129,204 | |
Institutional Shares | 87,672 | (150,593) | |
Net Increase (Decrease) from Capital Share Transactions | 1,710,973 | 1,168,200 | |
Total Increase (Decrease) | (7,759,505) | 9,584,749 | |
Net Assets | |||
Beginning of Period | 42,648,828 | 33,064,079 | |
End of Period | 34,889,323 | 42,648,828 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $89.03 | $71.00 | $59.72 | $46.36 | $49.48 | $41.31 |
Investment Operations | ||||||
Net Investment Income1 | .510 | .956 | .969 | .918 | .966 | .819 |
Net Realized and Unrealized Gain (Loss) on Investments | (19.439) | 18.025 | 11.268 | 13.466 | (3.184) | 8.161 |
Total from Investment Operations | (18.929) | 18.981 | 12.237 | 14.384 | (2.218) | 8.980 |
Distributions | ||||||
Dividends from Net Investment Income | (.491) | (.951) | (.957) | (1.024) | (.902) | (.810) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.491) | (.951) | (.957) | (1.024) | (.902) | (.810) |
Net Asset Value, End of Period | $69.61 | $89.03 | $71.00 | $59.72 | $46.36 | $49.48 |
Total Return2 | -21.30% | 26.87% | 20.89% | 31.23% | -4.59% | 21.89% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $26 | $36 | $37 | $30 | $344 | $387 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
Ratio of Net Investment Income to Average Net Assets | 1.29% | 1.19% | 1.61% | 1.75% | 1.91% | 1.81% |
Portfolio Turnover Rate3 | 2% | 4% | 3% | 5% | 4% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $220.44 | $175.80 | $147.88 | $114.77 | $122.49 | $102.27 |
Investment Operations | ||||||
Net Investment Income1 | 1.390 | 2.646 | 2.594 | 2.581 | 2.572 | 2.168 |
Net Realized and Unrealized Gain (Loss) on Investments | (48.149) | 44.617 | 27.890 | 33.204 | (7.896) | 20.196 |
Total from Investment Operations | (46.759) | 47.263 | 30.484 | 35.785 | (5.324) | 22.364 |
Distributions | ||||||
Dividends from Net Investment Income | (1.351) | (2.623) | (2.564) | (2.675) | (2.396) | (2.144) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.351) | (2.623) | (2.564) | (2.675) | (2.396) | (2.144) |
Net Asset Value, End of Period | $172.33 | $220.44 | $175.80 | $147.88 | $114.77 | $122.49 |
Total Return | -21.26% | 27.02% | 20.99% | 31.39% | -4.44% | 22.03% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $23,511 | $28,242 | $21,540 | $16,270 | $12,358 | $11,613 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.43% | 1.33% | 1.74% | 1.93% | 2.04% | 1.93% |
Portfolio Turnover Rate2 | 2% | 4% | 3% | 5% | 4% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $111.33 | $88.79 | $74.69 | $57.96 | $61.86 | $51.65 |
Investment Operations | ||||||
Net Investment Income1 | .696 | 1.325 | 1.303 | 1.299 | 1.288 | 1.094 |
Net Realized and Unrealized Gain (Loss) on Investments | (24.312) | 22.530 | 14.084 | 16.774 | (3.983) | 10.197 |
Total from Investment Operations | (23.616) | 23.855 | 15.387 | 18.073 | (2.695) | 11.291 |
Distributions | ||||||
Dividends from Net Investment Income | (.684) | (1.315) | (1.287) | (1.343) | (1.205) | (1.081) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.684) | (1.315) | (1.287) | (1.343) | (1.205) | (1.081) |
Net Asset Value, End of Period | $87.03 | $111.33 | $88.79 | $74.69 | $57.96 | $61.86 |
Total Return2 | -21.26% | 27.01% | 21.03% | 31.39% | -4.47% | 22.03% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $9,293 | $11,847 | $9,338 | $7,546 | $5,306 | $5,375 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.41% | 1.32% | 1.73% | 1.92% | 2.03% | 1.93% |
Portfolio Turnover Rate3 | 2% | 4% | 3% | 5% | 4% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $458.22 | $365.43 | $307.39 | $238.57 | $254.60 | $212.59 |
Investment Operations | ||||||
Net Investment Income1 | 2.885 | 5.477 | 5.389 | 5.363 | 5.345 | 4.529 |
Net Realized and Unrealized Gain (Loss) on Investments | (100.068) | 92.764 | 57.981 | 69.016 | (16.390) | 41.958 |
Total from Investment Operations | (97.183) | 98.241 | 63.370 | 74.379 | (11.045) | 46.487 |
Distributions | ||||||
Dividends from Net Investment Income | (2.837) | (5.451) | (5.330) | (5.559) | (4.985) | (4.477) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.837) | (5.451) | (5.330) | (5.559) | (4.985) | (4.477) |
Net Asset Value, End of Period | $358.20 | $458.22 | $365.43 | $307.39 | $238.57 | $254.60 |
Total Return | -21.26% | 27.03% | 21.05% | 31.39% | -4.46% | 22.03% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $2,058 | $2,524 | $2,149 | $1,796 | $1,178 | $1,212 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.42% | 1.32% | 1.74% | 1.92% | 2.04% | 1.94% |
Portfolio Turnover Rate2 | 2% | 4% | 3% | 5% | 4% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
D. | As of June 30, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows: |
Amount ($000) | |
Tax Cost | 21,954,239 |
Gross Unrealized Appreciation | 13,979,890 |
Gross Unrealized Depreciation | (1,044,674) |
Net Unrealized Appreciation (Depreciation) | 12,935,216 |
E. | During the six months ended June 30, 2022, the fund purchased $2,951,383,000 of investment securities and sold $1,238,583,000 of investment securities, other than temporary cash investments. Purchases and sales include $2,133,016,000 and $536,707,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital share transactions for each class of shares were: |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 4,585 | 57 | 6,179 | 78 | |
Issued in Lieu of Cash Distributions | 191 | 2 | 430 | 5 | |
Redeemed | (6,278) | (79) | (16,328) | (202) | |
Net Increase (Decrease)—Investor Shares | (1,502) | (20) | (9,719) | (119) | |
ETF Shares | |||||
Issued | 2,166,487 | 11,286 | 2,640,652 | 12,968 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (569,651) | (2,975) | (1,441,344) | (7,375) | |
Net Increase (Decrease)—ETF Shares | 1,596,836 | 8,311 | 1,199,308 | 5,593 | |
Admiral Shares | |||||
Issued | 945,208 | 9,634 | 1,711,321 | 17,206 | |
Issued in Lieu of Cash Distributions | 58,810 | 623 | 112,879 | 1,108 | |
Redeemed | (976,051) | (9,891) | (1,694,996) | (17,070) | |
Net Increase (Decrease)—Admiral Shares | 27,967 | 366 | 129,204 | 1,244 | |
Institutional Shares | |||||
Issued | 276,332 | 692 | 539,667 | 1,322 | |
Issued in Lieu of Cash Distributions | 14,202 | 37 | 26,988 | 65 | |
Redeemed | (202,862) | (491) | (717,248) | (1,761) | |
Net Increase (Decrease)—Institutional Shares | 87,672 | 238 | (150,593) | (374) |
G. | Management has determined that no events or transactions occurred subsequent to June 30, 2022, that would require recognition or disclosure in these financial statements. |
All rights reserved.
U.S. Patent Nos. 6,879,964.
Vanguard Marketing Corporation, Distributor.
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended June 30, 2022 | |||
Beginning Account Value 12/31/2021 | Ending Account Value 6/30/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Total Stock Market Index Fund | |||
Investor Shares | $1,000.00 | $785.70 | $0.62 |
ETF Shares | 1,000.00 | 786.20 | 0.13 |
Admiral™ Shares | 1,000.00 | 786.20 | 0.18 |
Institutional Shares | 1,000.00 | 786.10 | 0.13 |
Institutional Plus Shares | 1,000.00 | 786.20 | 0.09 |
Institutional Select Shares | 1,000.00 | 786.30 | 0.04 |
Based on Hypothetical 5% Yearly Return | |||
Total Stock Market Index Fund | |||
Investor Shares | $1,000.00 | $1,024.10 | $0.70 |
ETF Shares | 1,000.00 | 1,024.65 | 0.15 |
Admiral Shares | 1,000.00 | 1,024.60 | 0.20 |
Institutional Shares | 1,000.00 | 1,024.65 | 0.15 |
Institutional Plus Shares | 1,000.00 | 1,024.70 | 0.10 |
Institutional Select Shares | 1,000.00 | 1,024.75 | 0.05 |
Basic Materials | 2.1% |
Consumer Discretionary | 13.8 |
Consumer Staples | 5.8 |
Energy | 4.5 |
Financials | 11.2 |
Health Care | 14.3 |
Industrials | 12.7 |
Real Estate | 3.7 |
Technology | 25.8 |
Telecommunications | 2.7 |
Utilities | 3.4 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.3%) | ||||||
Basic Materials (2.1%) | ||||||
Linde plc | 14,798,316 | 4,254,960 | ||||
Air Products and Chemicals Inc. | 6,538,586 | 1,572,399 | ||||
Newmont Corp. | 23,411,643 | 1,396,973 | ||||
Freeport-McMoRan Inc. | 42,735,970 | 1,250,454 | ||||
Ecolab Inc. | 7,582,273 | 1,165,850 | ||||
Dow Inc. | 21,459,036 | 1,107,501 | ||||
International Flavors & Fragrances Inc. | 7,517,350 | 895,467 | ||||
Fastenal Co. | 16,963,707 | 846,828 | ||||
Nucor Corp. | 7,844,622 | 819,057 | ||||
Albemarle Corp. | 3,453,724 | 721,759 | ||||
LyondellBasell Industries NV Class A | 7,725,769 | 675,696 | ||||
CF Industries Holdings Inc. | 6,154,081 | 527,589 | ||||
Mosaic Co. | 10,679,215 | 504,379 | ||||
International Paper Co. | 10,918,437 | 456,718 | ||||
FMC Corp. | 3,711,816 | 397,201 | ||||
Avery Dennison Corp. | 2,408,626 | 389,884 | ||||
Steel Dynamics Inc. | 5,282,749 | 349,454 | ||||
Eastman Chemical Co. | 3,799,843 | 341,112 | ||||
Celanese Corp. | 2,872,852 | 337,876 | ||||
Reliance Steel & Aluminum Co. | 1,826,158 | 310,191 | ||||
Alcoa Corp. | 5,442,985 | 248,091 | ||||
* | Cleveland-Cliffs Inc. | 13,893,944 | 213,550 | |||
Royal Gold Inc. | 1,935,653 | 206,689 | ||||
Olin Corp. | 4,254,616 | 196,904 | ||||
* | RBC Bearings Inc. | 851,168 | 157,424 | |||
Valvoline Inc. | 5,243,316 | 151,165 | ||||
Huntsman Corp. | 5,259,694 | 149,112 | ||||
Ashland Global Holdings Inc. | 1,443,598 | 148,763 | ||||
Chemours Co. | 4,591,457 | 147,018 |
Shares | Market Value• ($000) | |||||
Hexcel Corp. | 2,472,043 | 129,313 | ||||
* | Univar Solutions Inc. | 4,982,674 | 123,919 | |||
Element Solutions Inc. | 6,959,677 | 123,882 | ||||
United States Steel Corp. | 6,904,544 | 123,660 | ||||
UFP Industries Inc. | 1,764,367 | 120,224 | ||||
Commercial Metals Co. | 3,580,655 | 118,520 | ||||
Balchem Corp. | 852,107 | 110,552 | ||||
Avient Corp. | 2,693,401 | 107,952 | ||||
* | Livent Corp. | 4,753,552 | 107,858 | |||
Cabot Corp. | 1,667,668 | 106,381 | ||||
Timken Co. | 1,965,046 | 104,246 | ||||
Sensient Technologies Corp. | 1,244,382 | 100,247 | ||||
Westlake Corp. | 944,050 | 92,536 | ||||
* | MP Materials Corp. | 2,871,188 | 92,108 | |||
Scotts Miracle-Gro Co. | 1,146,067 | 90,528 | ||||
* | Arconic Corp. | 3,121,062 | 87,546 | |||
Mueller Industries Inc. | 1,600,678 | 85,300 | ||||
* | Ingevity Corp. | 1,141,757 | 72,091 | |||
Innospec Inc. | 732,498 | 70,166 | ||||
Boise Cascade Co. | 1,164,269 | 69,262 | ||||
NewMarket Corp. | 227,046 | 68,332 | ||||
Stepan Co. | 627,551 | 63,602 | ||||
Hecla Mining Co. | 15,897,629 | 62,319 | ||||
Minerals Technologies Inc. | 973,103 | 59,690 | ||||
Quaker Chemical Corp. | 397,514 | 59,436 | ||||
Tronox Holdings plc Class A | 3,437,134 | 57,744 | ||||
* | GCP Applied Technologies Inc. | 1,624,342 | 50,809 | |||
Materion Corp. | 606,770 | 44,737 | ||||
GrafTech International Ltd. | 5,723,610 | 40,466 | ||||
Carpenter Technology Corp. | 1,430,192 | 39,917 |
Shares | Market Value• ($000) | |||||
Worthington Industries Inc. | 887,217 | 39,126 | ||||
Kaiser Aluminum Corp. | 468,754 | 37,074 | ||||
Compass Minerals International Inc. | 1,017,920 | 36,024 | ||||
Sylvamo Corp. | 980,057 | 32,028 | ||||
AdvanSix Inc. | 789,776 | 26,410 | ||||
*,1 | Uranium Energy Corp. | 8,314,150 | 25,608 | |||
* | TimkenSteel Corp. | 1,299,143 | 24,307 | |||
* | US Silica Holdings Inc. | 2,126,130 | 24,280 | |||
Schnitzer Steel Industries Inc. Class A | 729,482 | 23,956 | ||||
Schweitzer-Mauduit International Inc. | 926,738 | 23,280 | ||||
* | Coeur Mining Inc. | 7,416,303 | 22,546 | |||
*,1 | Energy Fuels Inc. | 4,396,970 | 21,589 | |||
Hawkins Inc. | 555,530 | 20,016 | ||||
American Vanguard Corp. | 857,784 | 19,171 | ||||
*,1 | Origin Materials Inc. | 3,718,023 | 19,036 | |||
*,1 | Piedmont Lithium Inc. | 499,888 | 18,201 | |||
Ecovyst Inc. | 1,822,100 | 17,948 | ||||
* | Resolute Forest Products Inc. | 1,355,417 | 17,295 | |||
Neenah Inc. | 491,344 | 16,775 | ||||
* | Clearwater Paper Corp. | 485,925 | 16,342 | |||
Koppers Holdings Inc. | 587,127 | 13,293 | ||||
Ryerson Holding Corp. | 622,315 | 13,249 | ||||
* | LSB Industries Inc. | 914,871 | 12,680 | |||
* | Intrepid Potash Inc. | 279,037 | 12,638 | |||
Haynes International Inc. | 347,482 | 11,387 | ||||
*,1 | Amyris Inc. | 6,117,706 | 11,318 | |||
*,1 | 5E Advanced Materials Inc. | 922,100 | 11,231 | |||
* | Century Aluminum Co. | 1,444,160 | 10,643 | |||
Omega Flex Inc. | 88,289 | 9,502 | ||||
Glatfelter Corp. | 1,275,904 | 8,778 | ||||
* | Northwest Pipe Co. | 283,882 | 8,499 | |||
Tredegar Corp. | 804,870 | 8,049 | ||||
* | Alto Ingredients Inc. | 2,071,987 | 7,687 | |||
Olympic Steel Inc. | 266,301 | 6,857 | ||||
*,1 | Ur-Energy Inc. | 5,979,392 | 6,338 | |||
FutureFuel Corp. | 818,795 | 5,961 | ||||
* | Unifi Inc. | 422,068 | 5,934 | |||
* | Hycroft Mining Holding Corp. Class A | 4,357,713 | 4,837 |
Shares | Market Value• ($000) | |||||
* | Rayonier Advanced Materials Inc. | 1,782,488 | 4,670 | |||
*,1 | Dakota Gold Corp. | 1,345,100 | 4,506 | |||
Gold Resource Corp. | 2,619,731 | 4,270 | ||||
* | Synalloy Corp. | 302,356 | 4,251 | |||
*,1 | Gatos Silver Inc. | 1,369,000 | 3,929 | |||
Eastern Co. | 163,220 | 3,320 | ||||
*,1 | NN Inc. | 1,139,465 | 2,883 | |||
*,1 | Marrone Bio Innovations Inc. | 2,405,383 | 2,790 | |||
Northern Technologies International Corp. | 243,564 | 2,277 | ||||
*,1 | Idaho Strategic Resources Inc. | 276,311 | 2,175 | |||
*,1 | Zymergen Inc. | 1,572,621 | 1,934 | |||
* | Perma-Pipe International Holdings Inc. | 203,435 | 1,831 | |||
*,1 | Westwater Resources Inc. | 1,555,654 | 1,680 | |||
* | Universal Stainless & Alloy Products Inc. | 217,305 | 1,608 | |||
*,1 | Golden Minerals Co. | 4,480,131 | 1,601 | |||
Friedman Industries Inc. | 185,959 | 1,514 | ||||
* | Ampco-Pittsburgh Corp. | 357,753 | 1,385 | |||
Culp Inc. | 270,168 | 1,162 | ||||
* | AgroFresh Solutions Inc. | 636,534 | 1,139 | |||
United-Guardian Inc. | 73,036 | 1,095 | ||||
* | United States Antimony Corp. | 2,530,540 | 1,022 | |||
*,1 | CPS Technologies Corp. | 336,311 | 1,022 | |||
Chicago Rivet & Machine Co. | 28,369 | 808 | ||||
* | US Gold Corp. | 180,278 | 748 | |||
* | Solitario Zinc Corp. | 1,172,963 | 669 | |||
*,1 | Comstock Inc. | 1,025,999 | 636 | |||
* | Paramount Gold Nevada Corp. | 1,225,450 | 539 | |||
* | Flexible Solutions International Inc. | 151,258 | 371 | |||
* | NextPlat Corp. | 50,264 | 97 | |||
* | Hycroft Mining Holding Corp. Warrants Exp. 10/6/25 | 155,000 | 47 | |||
*,2 | F-star Therapeutics Inc. CVR | 61,021 | 4 | |||
23,229,283 | ||||||
Consumer Discretionary (13.7%) | ||||||
* | Amazon.com Inc. | 254,987,160 | 27,082,186 | |||
* | Tesla Inc. | 25,964,171 | 17,484,792 |
Shares | Market Value• ($000) | |||||
Home Depot Inc. | 30,303,660 | 8,311,385 | ||||
Costco Wholesale Corp. | 13,067,037 | 6,262,769 | ||||
McDonald's Corp. | 21,802,801 | 5,382,675 | ||||
* | Walt Disney Co. | 53,707,617 | 5,069,999 | |||
Walmart Inc. | 40,580,429 | 4,933,769 | ||||
NIKE Inc. Class B | 37,409,962 | 3,823,298 | ||||
Lowe's Cos. Inc. | 19,224,850 | 3,358,005 | ||||
Starbucks Corp. | 33,813,480 | 2,583,012 | ||||
* | Netflix Inc. | 13,100,543 | 2,290,892 | |||
* | Booking Holdings Inc. | 1,197,824 | 2,094,982 | |||
Target Corp. | 13,672,402 | 1,930,953 | ||||
TJX Cos. Inc. | 32,903,555 | 1,837,664 | ||||
Dollar General Corp. | 6,747,542 | 1,656,117 | ||||
Activision Blizzard Inc. | 20,740,541 | 1,614,858 | ||||
Estee Lauder Cos. Inc. Class A | 6,154,770 | 1,567,435 | ||||
Ford Motor Co. | 116,425,762 | 1,295,819 | ||||
* | AutoZone Inc. | 585,314 | 1,257,910 | |||
* | General Motors Co. | 38,690,186 | 1,228,800 | |||
* | O'Reilly Automotive Inc. | 1,938,196 | 1,224,475 | |||
Marriott International Inc. Class A | 8,686,075 | 1,181,393 | ||||
* | Uber Technologies Inc. | 52,126,532 | 1,066,509 | |||
* | Chipotle Mexican Grill Inc. | 783,323 | 1,024,007 | |||
Electronic Arts Inc. | 8,251,604 | 1,003,808 | ||||
* | Dollar Tree Inc. | 6,319,453 | 984,887 | |||
Yum! Brands Inc. | 8,407,303 | 954,313 | ||||
* | Lululemon Athletica Inc. | 3,440,640 | 937,953 | |||
Hilton Worldwide Holdings Inc. | 8,211,389 | 915,077 | ||||
* | Airbnb Inc. Class A | 10,145,561 | 903,767 | |||
* | Warner Bros Discovery Inc. | 64,438,018 | 864,758 | |||
Ross Stores Inc. | 10,367,041 | 728,077 | ||||
* | Aptiv plc | 7,990,930 | 711,752 | |||
eBay Inc. | 16,512,719 | 688,085 | ||||
* | Copart Inc. | 6,311,711 | 685,830 | |||
Tractor Supply Co. | 3,300,460 | 639,794 | ||||
* | Southwest Airlines Co. | 17,495,646 | 631,943 | |||
DR Horton Inc. | 9,342,877 | 618,405 | ||||
* | Ulta Beauty Inc. | 1,539,906 | 593,603 | |||
* | Take-Two Interactive Software Inc. | 4,776,291 | 585,239 | |||
Genuine Parts Co. | 4,176,843 | 555,520 | ||||
* | Delta Air Lines Inc. | 18,884,661 | 547,089 | |||
* | Trade Desk Inc. Class A | 13,039,958 | 546,244 | |||
Lennar Corp. Class A | 7,141,543 | 503,979 |
Shares | Market Value• ($000) | |||||
VF Corp. | 10,329,513 | 456,255 | ||||
Garmin Ltd. | 4,556,964 | 447,722 | ||||
* | CarMax Inc. | 4,730,481 | 428,014 | |||
* | Expedia Group Inc. | 4,465,400 | 423,454 | |||
Darden Restaurants Inc. | 3,676,806 | 415,920 | ||||
Domino's Pizza Inc. | 1,062,204 | 413,951 | ||||
*,1 | Rivian Automotive Inc. Class A | 15,806,681 | 406,864 | |||
Pool Corp. | 1,123,265 | 394,524 | ||||
Best Buy Co. Inc. | 5,965,612 | 388,898 | ||||
Omnicom Group Inc. | 6,067,563 | 385,958 | ||||
Paramount Global Class B | 15,545,484 | 383,663 | ||||
* | NVR Inc. | 92,119 | 368,857 | |||
* | Live Nation Entertainment Inc. | 4,368,491 | 360,750 | |||
LKQ Corp. | 7,097,429 | 348,413 | ||||
* | Liberty Media Corp.-Liberty Formula One Class C | 5,408,365 | 343,269 | |||
* | United Airlines Holdings Inc. | 9,648,289 | 341,742 | |||
* | Las Vegas Sands Corp. | 10,118,051 | 339,865 | |||
Interpublic Group of Cos. Inc. | 11,610,621 | 319,640 | ||||
Advance Auto Parts Inc. | 1,789,720 | 309,783 | ||||
Service Corp. International | 4,447,591 | 307,417 | ||||
Hasbro Inc. | 3,700,036 | 302,959 | ||||
*,1 | Lucid Group Inc. | 17,227,882 | 295,630 | |||
MGM Resorts International | 10,058,071 | 291,181 | ||||
*,1 | ROBLOX Corp. Class A | 8,793,007 | 288,938 | |||
Fox Corp. Class A | 8,781,125 | 282,401 | ||||
PulteGroup Inc. | 7,018,718 | 278,152 | ||||
* | Etsy Inc. | 3,751,050 | 274,614 | |||
* | Burlington Stores Inc. | 1,949,390 | 265,565 | |||
Vail Resorts Inc. | 1,196,067 | 260,802 | ||||
Whirlpool Corp. | 1,658,439 | 256,842 | ||||
Rollins Inc. | 7,262,161 | 253,595 | ||||
* | BJ's Wholesale Club Holdings Inc. | 3,982,382 | 248,182 | |||
* | American Airlines Group Inc. | 19,158,697 | 242,932 | |||
BorgWarner Inc. | 7,053,576 | 235,378 | ||||
Lithia Motors Inc. Class A | 853,631 | 234,586 | ||||
*,1 | GameStop Corp. Class A | 1,912,676 | 233,920 | |||
Aramark | 7,593,068 | 232,576 | ||||
* | Mattel Inc. | 10,392,773 | 232,071 |
Shares | Market Value• ($000) | |||||
* | Caesars Entertainment Inc. | 6,017,022 | 230,452 | |||
Williams-Sonoma Inc. | 2,066,559 | 229,285 | ||||
Tapestry Inc. | 7,428,524 | 226,719 | ||||
* | Royal Caribbean Cruises Ltd. | 6,394,669 | 223,238 | |||
Lear Corp. | 1,761,399 | 221,742 | ||||
*,1 | Carnival Corp. | 24,765,487 | 214,221 | |||
News Corp. Class A | 13,647,783 | 212,632 | ||||
Newell Brands Inc. | 10,988,273 | 209,217 | ||||
*,1 | AMC Entertainment Holdings Inc. Class A | 15,256,557 | 206,726 | |||
* | Deckers Outdoor Corp. | 804,453 | 205,417 | |||
Churchill Downs Inc. | 1,011,619 | 193,755 | ||||
Gentex Corp. | 6,920,522 | 193,567 | ||||
* | Floor & Decor Holdings Inc. Class A | 2,965,037 | 186,679 | |||
* | Five Below Inc. | 1,633,641 | 185,304 | |||
Nexstar Media Group Inc. Class A | 1,130,189 | 184,085 | ||||
Bath & Body Works Inc. | 6,665,934 | 179,447 | ||||
Wyndham Hotels & Resorts Inc. | 2,715,820 | 178,484 | ||||
* | Capri Holdings Ltd. | 4,348,065 | 178,314 | |||
* | Wynn Resorts Ltd. | 3,076,124 | 175,278 | |||
Nielsen Holdings plc | 7,412,806 | 172,125 | ||||
* | Planet Fitness Inc. Class A | 2,506,029 | 170,435 | |||
H&R Block Inc. | 4,708,351 | 166,299 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class C | 4,583,856 | 165,248 | |||
Polaris Inc. | 1,663,645 | 165,167 | ||||
* | SiteOne Landscape Supply Inc. | 1,327,783 | 157,834 | |||
* | AutoNation Inc. | 1,376,488 | 153,836 | |||
Macy's Inc. | 8,379,075 | 153,505 | ||||
Murphy USA Inc. | 642,323 | 149,578 | ||||
* | Penn National Gaming Inc. | 4,911,763 | 149,416 | |||
* | Alaska Air Group Inc. | 3,723,964 | 149,145 | |||
* | Bright Horizons Family Solutions Inc. | 1,748,345 | 147,770 | |||
Texas Roadhouse Inc. Class A | 2,015,303 | 147,520 | ||||
Toll Brothers Inc. | 3,281,339 | 146,348 | ||||
* | Terminix Global Holdings Inc. | 3,583,426 | 145,666 | |||
1 | Sirius XM Holdings Inc. | 23,213,548 | 142,299 | |||
Fox Corp. Class B | 4,780,260 | 141,974 |
Shares | Market Value• ($000) | |||||
* | Skechers USA Inc. Class A | 3,989,036 | 141,930 | |||
TEGNA Inc. | 6,570,433 | 137,782 | ||||
*,1 | Norwegian Cruise Line Holdings Ltd. | 12,352,677 | 137,362 | |||
Leggett & Platt Inc. | 3,944,693 | 136,407 | ||||
Kohl's Corp. | 3,782,903 | 135,012 | ||||
* | Light & Wonder Inc. | 2,829,174 | 132,943 | |||
New York Times Co. Class A | 4,670,884 | 130,318 | ||||
* | IAA Inc. | 3,962,788 | 129,861 | |||
Choice Hotels International Inc. | 1,153,606 | 128,777 | ||||
Marriott Vacations Worldwide Corp. | 1,099,312 | 127,740 | ||||
*,1 | DraftKings Inc. Class A | 10,942,899 | 127,704 | |||
* | Avis Budget Group Inc. | 855,231 | 125,787 | |||
AMERCO | 261,178 | 124,903 | ||||
Harley-Davidson Inc. | 3,904,161 | 123,606 | ||||
* | RH | 579,900 | 123,090 | |||
1 | Dick's Sporting Goods Inc. | 1,590,439 | 119,871 | |||
Thor Industries Inc. | 1,539,785 | 115,068 | ||||
* | Helen of Troy Ltd. | 702,158 | 114,037 | |||
PVH Corp. | 1,985,939 | 113,000 | ||||
* | Lyft Inc. Class A | 8,487,640 | 112,716 | |||
Boyd Gaming Corp. | 2,260,060 | 112,438 | ||||
* | Asbury Automotive Group Inc. | 651,437 | 110,314 | |||
Ralph Lauren Corp. | 1,196,800 | 107,293 | ||||
* | Hyatt Hotels Corp. Class A | 1,445,878 | 106,865 | |||
Hanesbrands Inc. | 10,274,366 | 105,723 | ||||
*,1 | Hertz Global Holdings Inc. | 6,669,582 | 105,646 | |||
Tempur Sealy International Inc. | 4,910,429 | 104,936 | ||||
* | YETI Holdings Inc. | 2,410,000 | 104,281 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 1,763,523 | 103,607 | |||
* | Fox Factory Holding Corp. | 1,246,040 | 100,356 | |||
*,1 | Wayfair Inc. Class A | 2,231,984 | 97,225 | |||
Wendy's Co. | 5,049,420 | 95,333 | ||||
* | Hilton Grand Vacations Inc. | 2,663,399 | 95,163 | |||
Travel + Leisure Co. | 2,389,278 | 92,752 | ||||
Academy Sports & Outdoors Inc. | 2,539,144 | 90,241 | ||||
* | Grand Canyon Education Inc. | 951,258 | 89,599 | |||
* | Coty Inc. Class A | 11,154,673 | 89,349 | |||
*,1 | Chewy Inc. Class A | 2,572,862 | 89,330 | |||
* | Goodyear Tire & Rubber Co. | 8,312,988 | 89,032 |
Shares | Market Value• ($000) | |||||
* | Dorman Products Inc. | 795,199 | 87,241 | |||
* | Visteon Corp. | 830,864 | 86,061 | |||
* | Crocs Inc. | 1,729,089 | 84,155 | |||
Warner Music Group Corp. Class A | 3,451,827 | 84,086 | ||||
* | Callaway Golf Co. | 4,079,642 | 83,225 | |||
Penske Automotive Group Inc. | 784,354 | 82,114 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 2,229,664 | 80,357 | |||
World Wrestling Entertainment Inc. Class A | 1,280,526 | 80,020 | ||||
LCI Industries | 712,055 | 79,665 | ||||
Carter's Inc. | 1,127,662 | 79,478 | ||||
Papa John's International Inc. | 950,798 | 79,411 | ||||
* | JetBlue Airways Corp. | 9,444,288 | 79,049 | |||
* | Peloton Interactive Inc. Class A | 8,590,671 | 78,862 | |||
Group 1 Automotive Inc. | 463,909 | 78,772 | ||||
* | Meritage Homes Corp. | 1,082,189 | 78,459 | |||
* | Taylor Morrison Home Corp. Class A | 3,353,678 | 78,342 | |||
* | Endeavor Group Holdings Inc. Class A | 3,766,353 | 77,436 | |||
*,1 | Spirit Airlines Inc. | 3,202,664 | 76,351 | |||
* | Skyline Champion Corp. | 1,591,814 | 75,484 | |||
Columbia Sportswear Co. | 1,017,577 | 72,838 | ||||
Foot Locker Inc. | 2,828,097 | 71,409 | ||||
Signet Jewelers Ltd. | 1,330,230 | 71,114 | ||||
KB Home | 2,473,196 | 70,387 | ||||
* | Madison Square Garden Sports Corp. | 464,634 | 70,160 | |||
1 | Nordstrom Inc. | 3,274,637 | 69,193 | |||
Steven Madden Ltd. | 2,119,254 | 68,261 | ||||
* | Victoria's Secret & Co. | 2,437,904 | 68,188 | |||
* | Sonos Inc. | 3,773,068 | 68,066 | |||
*,1 | Carvana Co. | 2,947,980 | 66,565 | |||
* | Chegg Inc. | 3,525,565 | 66,210 | |||
* | National Vision Holdings Inc. | 2,396,692 | 65,909 | |||
Wingstop Inc. | 881,080 | 65,878 | ||||
Gap Inc. | 7,623,655 | 62,819 | ||||
Graham Holdings Co. Class B | 109,623 | 62,139 |
Shares | Market Value• ($000) | |||||
* | Liberty Media Corp.-Liberty Formula One Class A | 1,071,104 | 62,092 | |||
Rush Enterprises Inc. Class A | 1,282,824 | 61,832 | ||||
*,1 | Leslie's Inc. | 4,040,583 | 61,336 | |||
* | Gentherm Inc. | 975,533 | 60,883 | |||
* | Boot Barn Holdings Inc. | 880,342 | 60,664 | |||
Lennar Corp. Class B | 1,029,913 | 60,466 | ||||
John Wiley & Sons Inc. Class A | 1,239,209 | 59,185 | ||||
MillerKnoll Inc. | 2,245,607 | 58,992 | ||||
* | Frontdoor Inc. | 2,422,117 | 58,325 | |||
Cracker Barrel Old Country Store Inc. | 692,247 | 57,796 | ||||
* | SeaWorld Entertainment Inc. | 1,277,745 | 56,451 | |||
* | Sabre Corp. | 9,635,312 | 56,174 | |||
Kontoor Brands Inc. | 1,658,376 | 55,340 | ||||
MDC Holdings Inc. | 1,689,797 | 54,597 | ||||
Dana Inc. | 3,825,951 | 53,831 | ||||
* | TripAdvisor Inc. | 2,997,856 | 53,362 | |||
*,1 | Duolingo Inc. Class A | 608,034 | 53,233 | |||
* | KAR Auction Services Inc. | 3,595,430 | 53,104 | |||
PriceSmart Inc. | 728,211 | 52,162 | ||||
Red Rock Resorts Inc. Class A | 1,550,868 | 51,737 | ||||
* | LGI Homes Inc. | 594,558 | 51,667 | |||
*,1 | QuantumScape Corp. Class A | 5,990,657 | 51,460 | |||
* | Tri Pointe Homes Inc. | 3,048,549 | 51,429 | |||
* | Allegiant Travel Co. | 453,706 | 51,310 | |||
* | Cavco Industries Inc. | 257,741 | 50,515 | |||
* | Under Armour Inc. Class C | 6,643,927 | 50,361 | |||
1 | American Eagle Outfitters Inc. | 4,468,082 | 49,953 | |||
* | Six Flags Entertainment Corp. | 2,283,648 | 49,555 | |||
* | Stride Inc. | 1,208,570 | 49,298 | |||
Wolverine World Wide Inc. | 2,382,164 | 48,024 | ||||
* | Cinemark Holdings Inc. | 3,192,003 | 47,944 | |||
Strategic Education Inc. | 665,614 | 46,979 | ||||
* | Knowles Corp. | 2,697,342 | ��� 46,745 | |||
* | Adtalem Global Education Inc. | 1,263,234 | 45,438 | |||
* | elf Beauty Inc. | 1,471,380 | 45,142 | |||
* | Everi Holdings Inc. | 2,732,745 | 44,571 | |||
Winnebago Industries Inc. | 917,479 | 44,553 | ||||
* | Vista Outdoor Inc. | 1,581,249 | 44,117 |
Shares | Market Value• ($000) | |||||
Laureate Education Inc. Class A | 3,792,458 | 43,879 | ||||
Bloomin' Brands Inc. | 2,629,240 | 43,698 | ||||
* | Under Armour Inc. Class A | 5,243,636 | 43,679 | |||
* | Shake Shack Inc. Class A | 1,096,339 | 43,283 | |||
* | Madison Square Garden Entertainment Corp. | 816,592 | 42,969 | |||
Levi Strauss & Co. Class A | 2,602,031 | 42,465 | ||||
* | Coursera Inc. | 2,977,521 | 42,221 | |||
* | Tenneco Inc. Class A | 2,449,073 | 42,026 | |||
Gray Television Inc. | 2,474,662 | 41,797 | ||||
HNI Corp. | 1,192,395 | 41,364 | ||||
* | Driven Brands Holdings Inc. | 1,487,340 | 40,961 | |||
Oxford Industries Inc. | 457,619 | 40,609 | ||||
Monro Inc. | 946,808 | 40,599 | ||||
Acushnet Holdings Corp. | 972,110 | 40,518 | ||||
Century Communities Inc. | 883,312 | 39,722 | ||||
*,1 | Fisker Inc. Class A | 4,633,236 | 39,707 | |||
Cheesecake Factory Inc. | 1,480,381 | 39,112 | ||||
* | Central Garden & Pet Co. Class A | 966,283 | 38,661 | |||
* | Dave & Buster's Entertainment Inc. | 1,154,658 | 37,850 | |||
Inter Parfums Inc. | 517,949 | 37,841 | ||||
* | Sally Beauty Holdings Inc. | 3,152,705 | 37,580 | |||
* | ODP Corp. | 1,233,583 | 37,304 | |||
*,1 | Luminar Technologies Inc. Class A | 5,965,697 | 35,377 | |||
Jack in the Box Inc. | 617,405 | 34,612 | ||||
*,1 | Petco Health & Wellness Co. Inc. Class A | 2,340,882 | 34,505 | |||
* | Figs Inc. Class A | 3,728,508 | 33,967 | |||
Sturm Ruger & Co. Inc. | 518,265 | 32,988 | ||||
* | M/I Homes Inc. | 831,424 | 32,974 | |||
* | Malibu Boats Inc. Class A | 609,055 | 32,103 | |||
* | SkyWest Inc. | 1,492,221 | 31,710 | |||
*,1 | Overstock.com Inc. | 1,266,300 | 31,670 | |||
*,1 | Dutch Bros Inc. Class A | 988,216 | 31,277 | |||
* | Urban Outfitters Inc. | 1,671,099 | 31,183 | |||
* | Revolve Group Inc. Class A | 1,194,870 | 30,959 | |||
La-Z-Boy Inc. | 1,287,637 | 30,530 |
Shares | Market Value• ($000) | |||||
Dine Brands Global Inc. | 466,845 | 30,382 | ||||
* | Lions Gate Entertainment Corp. Class B | 3,425,633 | 30,248 | |||
*,1 | Sweetgreen Inc. Class A | 2,541,537 | 29,609 | |||
* | iRobot Corp. | 799,070 | 29,366 | |||
Franchise Group Inc. | 834,174 | 29,254 | ||||
Rent-A-Center Inc. | 1,481,748 | 28,820 | ||||
* | Brinker International Inc. | 1,302,388 | 28,692 | |||
Qurate Retail Inc. Class A | 9,926,143 | 28,488 | ||||
* | PowerSchool Holdings Inc. Class A | 2,332,948 | 28,112 | |||
Caleres Inc. | 1,066,686 | 27,990 | ||||
1 | Dillard's Inc. Class A | 125,623 | 27,709 | |||
1 | Krispy Kreme Inc. | 1,990,577 | 27,072 | |||
* | PROG Holdings Inc. | 1,589,148 | 26,221 | |||
* | XPEL Inc. | 569,732 | 26,168 | |||
Sinclair Broadcast Group Inc. Class A | 1,245,164 | 25,401 | ||||
* | iHeartMedia Inc. Class A | 3,202,219 | 25,265 | |||
* | Abercrombie & Fitch Co. Class A | 1,483,029 | 25,093 | |||
Buckle Inc. | 896,846 | 24,834 | ||||
Matthews International Corp. Class A | 861,034 | 24,686 | ||||
Standard Motor Products Inc. | 542,712 | 24,417 | ||||
* | G-III Apparel Group Ltd. | 1,205,677 | 24,391 | |||
* | Funko Inc. Class A | 1,089,382 | 24,315 | |||
* | American Axle & Manufacturing Holdings Inc. | 3,211,377 | 24,182 | |||
* | Mister Car Wash Inc. | 2,222,236 | 24,178 | |||
Steelcase Inc. Class A | 2,241,633 | 24,053 | ||||
*,1 | ContextLogic Inc. Class A | 14,970,537 | 23,953 | |||
1 | Camping World Holdings Inc. Class A | 1,106,772 | 23,895 | |||
* | Golden Entertainment Inc. | 594,281 | 23,504 | |||
* | AMC Networks Inc. Class A | 784,987 | 22,859 | |||
* | Monarch Casino & Resort Inc. | 388,782 | 22,810 | |||
* | 2U Inc. | 2,167,299 | 22,692 | |||
* | Liberty Media Corp.-Liberty Braves Class C | 940,129 | 22,563 |
Shares | Market Value• ($000) | |||||
* | Perdoceo Education Corp. | 1,894,742 | 22,320 | |||
Designer Brands Inc. Class A | 1,708,467 | 22,313 | ||||
* | EW Scripps Co. Class A | 1,778,726 | 22,181 | |||
*,1 | Clean Energy Fuels Corp. | 4,919,157 | 22,038 | |||
Interface Inc. Class A | 1,744,651 | 21,878 | ||||
* | MarineMax Inc. | 602,194 | 21,751 | |||
* | ACV Auctions Inc. Class A | 3,319,746 | 21,711 | |||
* | Central Garden & Pet Co. | 493,884 | 20,951 | |||
Sonic Automotive Inc. Class A | 568,048 | 20,808 | ||||
* | Hawaiian Holdings Inc. | 1,442,932 | 20,648 | |||
Arko Corp. | 2,481,279 | 20,247 | ||||
* | GoPro Inc. Class A | 3,657,631 | 20,227 | |||
* | Cardlytics Inc. | 902,620 | 20,137 | |||
News Corp. Class B | 1,238,515 | 19,680 | ||||
* | Genesco Inc. | 385,253 | 19,228 | |||
* | Sleep Number Corp. | 621,074 | 19,222 | |||
*,1 | Bally's Corp. | 931,391 | 18,423 | |||
* | Cars.com Inc. | 1,946,017 | 18,351 | |||
*,1 | Life Time Group Holdings Inc. | 1,423,289 | 18,332 | |||
*,1 | Blink Charging Co. | 1,095,113 | 18,102 | |||
Scholastic Corp. | 488,093 | 17,557 | ||||
Smith & Wesson Brands Inc. | 1,335,687 | 17,538 | ||||
* | Accel Entertainment Inc. Class A | 1,650,571 | 17,529 | |||
* | Sun Country Airlines Holdings Inc. | 940,020 | 17,240 | |||
* | Chico's FAS Inc. | 3,464,663 | 17,219 | |||
* | America's Car-Mart Inc. | 168,912 | 16,993 | |||
* | Green Brick Partners Inc. | 864,648 | 16,921 | |||
Global Industrial Co. | 497,893 | 16,814 | ||||
Big Lots Inc. | 800,639 | 16,789 | ||||
*,1 | Udemy Inc. | 1,642,008 | 16,765 | |||
A-Mark Precious Metals Inc. | 516,684 | 16,663 | ||||
1 | Guess? Inc. | 967,058 | 16,488 | |||
* | Viad Corp. | 577,747 | 15,952 | |||
Carriage Services Inc. Class A | 402,058 | 15,942 | ||||
* | Thryv Holdings Inc. | 702,193 | 15,722 | |||
* | Lions Gate Entertainment Corp. Class A | 1,662,398 | 15,477 |
Shares | Market Value• ($000) | |||||
Clarus Corp. | 807,350 | 15,332 | ||||
Ruth's Hospitality Group Inc. | 932,005 | 15,154 | ||||
*,1 | Corsair Gaming Inc. | 1,152,258 | 15,129 | |||
* | Arlo Technologies Inc. | 2,406,153 | 15,087 | |||
Hibbett Inc. | 344,177 | 15,044 | ||||
* | QuinStreet Inc. | 1,490,291 | 14,992 | |||
* | Denny's Corp. | 1,700,601 | 14,761 | |||
* | Children's Place Inc. | 378,118 | 14,716 | |||
* | BJ's Restaurants Inc. | 657,874 | 14,263 | |||
Winmark Corp. | 71,038 | 13,893 | ||||
Movado Group Inc. | 445,639 | 13,784 | ||||
Ethan Allen Interiors Inc. | 677,482 | 13,692 | ||||
1 | European Wax Center Inc. Class A | 757,510 | 13,347 | |||
*,1 | Rover Group Inc. Class A | 3,549,274 | 13,345 | |||
*,1 | Holley Inc. | 1,251,869 | 13,145 | |||
* | Stoneridge Inc. | 753,328 | 12,920 | |||
* | TravelCenters of America Inc. | 373,129 | 12,862 | |||
* | Stagwell Inc. | 2,345,757 | 12,737 | |||
*,1 | Vuzix Corp. | 1,792,261 | 12,725 | |||
* | Sportsman's Warehouse Holdings Inc. | 1,302,004 | 12,486 | |||
Aaron's Co. Inc. | 853,131 | 12,413 | ||||
* | Zumiez Inc. | 459,022 | 11,935 | |||
* | Gannett Co. Inc. | 4,063,386 | 11,784 | |||
*,1 | Liberty Media Corp.-Liberty Braves Class A | 445,381 | 11,201 | |||
RCI Hospitality Holdings Inc. | 231,430 | 11,192 | ||||
* | Clear Channel Outdoor Holdings Inc. | 10,445,735 | 11,177 | |||
* | Lovesac Co. | 401,588 | 11,044 | |||
* | MasterCraft Boat Holdings Inc. | 519,098 | 10,927 | |||
* | Stitch Fix Inc. Class A | 2,204,657 | 10,891 | |||
*,1 | Allbirds Inc. Class A | 2,751,448 | 10,813 | |||
* | Chuy's Holdings Inc. | 537,332 | 10,704 | |||
* | Liquidity Services Inc. | 795,167 | 10,687 | |||
Rush Enterprises Inc. Class B | 213,248 | 10,579 | ||||
* | Boston Omaha Corp. Class A | 504,858 | 10,425 | |||
* | Marcus Corp. | 695,300 | 10,270 | |||
* | Beazer Homes USA Inc. | 848,275 | 10,239 | |||
*,1 | Wheels Up Experience Inc. | 5,164,967 | 10,072 | |||
Haverty Furniture Cos. Inc. | 430,730 | 9,984 |
Shares | Market Value• ($000) | |||||
Shoe Carnival Inc. | 460,003 | 9,941 | ||||
* | Sciplay Corp. Class A | 705,371 | 9,854 | |||
* | WW International Inc. | 1,536,511 | 9,818 | |||
*,1 | Portillo's Inc. Class A | 595,958 | 9,744 | |||
*,1 | Playstudios Inc. | 2,241,786 | 9,595 | |||
*,1 | Bed Bath & Beyond Inc. | 1,884,415 | 9,365 | |||
* | OneWater Marine Inc. Class A | 282,871 | 9,349 | |||
*,1 | Eastman Kodak Co. | 1,999,566 | 9,278 | |||
*,1 | Vizio Holding Corp. Class A | 1,357,968 | 9,261 | |||
*,1 | Frontier Group Holdings Inc. | 984,399 | 9,224 | |||
*,1 | AMMO Inc. | 2,389,053 | 9,198 | |||
Bluegreen Vacations Holding Corp. Class A | 365,934 | 9,134 | ||||
* | CarParts.com Inc. | 1,312,022 | 9,105 | |||
* | Integral Ad Science Holding Corp. | 913,509 | 9,071 | |||
* | Selectquote Inc. | 3,638,849 | 9,024 | |||
*,1 | Mullen Automotive Inc. | 8,798,551 | 8,974 | |||
* | Latham Group Inc. | 1,252,545 | 8,680 | |||
* | Angi Inc. Class A | 1,879,775 | 8,609 | |||
Johnson Outdoors Inc. Class A | 139,239 | 8,516 | ||||
*,1 | Canoo Inc. | 4,601,737 | 8,513 | |||
* | American Public Education Inc. | 511,008 | 8,258 | |||
*,1 | Poshmark Inc. Class A | 793,067 | 8,018 | |||
* | Tupperware Brands Corp. | 1,214,024 | 7,697 | |||
* | Quotient Technology Inc. | 2,571,128 | 7,636 | |||
Kimball International Inc. Class B | 983,424 | 7,543 | ||||
* | LL Flooring Holdings Inc. | 802,995 | 7,524 | |||
* | Universal Electronics Inc. | 293,728 | 7,511 | |||
* | Lindblad Expeditions Holdings Inc. | 911,279 | 7,381 | |||
* | Rush Street Interactive Inc. | 1,572,928 | 7,346 | |||
*,1 | Faraday Future Intelligent Electric Inc. | 2,819,033 | 7,329 | |||
* | Fossil Group Inc. | 1,406,415 | 7,271 | |||
*,1 | Vinco Ventures Inc. | 5,262,437 | 7,262 | |||
Entravision Communications Corp. Class A | 1,586,226 | 7,233 |
Shares | Market Value• ($000) | |||||
* | 1-800-Flowers.com Inc. Class A | 746,053 | 7,095 | |||
Rocky Brands Inc. | 205,883 | 7,037 | ||||
*,1 | Lordstown Motors Corp. | 4,431,521 | 7,002 | |||
1 | Big 5 Sporting Goods Corp. | 620,900 | 6,960 | |||
* | Daily Journal Corp. | 26,386 | 6,829 | |||
* | Universal Technical Institute Inc. | 945,994 | 6,745 | |||
* | Motorcar Parts of America Inc. | 508,069 | 6,666 | |||
Build-A-Bear Workshop Inc. | 398,931 | 6,550 | ||||
*,1 | Genius Brands International Inc. | 8,534,678 | 6,461 | |||
Cato Corp. Class A | 536,537 | 6,229 | ||||
* | RealReal Inc. | 2,499,234 | 6,223 | |||
* | Hovnanian Enterprises Inc. Class A | 141,347 | 6,048 | |||
*,1 | Focus Universal Inc. | 526,074 | 6,008 | |||
* | Kura Sushi USA Inc. Class A | 120,616 | 5,974 | |||
* | Citi Trends Inc. | 250,792 | 5,931 | |||
Superior Group of Cos. Inc. | 331,545 | 5,885 | ||||
*,1 | Dream Finders Homes Inc. Class A | 550,933 | 5,862 | |||
* | ONE Group Hospitality Inc. | 789,551 | 5,819 | |||
* | Full House Resorts Inc. | 952,478 | 5,791 | |||
* | El Pollo Loco Holdings Inc. | 587,328 | 5,779 | |||
* | Noodles & Co. Class A | 1,186,247 | 5,575 | |||
* | Century Casinos Inc. | 751,313 | 5,409 | |||
* | Container Store Group Inc. | 863,409 | 5,379 | |||
* | Xponential Fitness Inc. Class A | 419,364 | 5,267 | |||
* | Destination XL Group Inc. | 1,544,207 | 5,235 | |||
* | Turtle Beach Corp. | 427,215 | 5,225 | |||
Hooker Furnishings Corp. | 333,634 | 5,188 | ||||
*,1 | Ondas Holdings Inc. | 957,444 | 5,161 | |||
* | Alta Equipment Group Inc. | 568,355 | 5,098 | |||
* | First Watch Restaurant Group Inc. | 349,498 | 5,040 | |||
* | Delta Apparel Inc. | 177,059 | 5,023 | |||
* | Lincoln Educational Services Corp. | 790,909 | 4,991 | |||
* | Snap One Holdings Corp. | 531,350 | 4,872 |
Shares | Market Value• ($000) | |||||
Bassett Furniture Industries Inc. | 264,538 | 4,793 | ||||
* | RumbleON Inc. Class B | 316,843 | 4,661 | |||
Tilly's Inc. Class A | 658,710 | 4,624 | ||||
*,1 | F45 Training Holdings Inc. | 1,129,271 | 4,438 | |||
1 | Weber Inc. Class A | 615,498 | 4,438 | |||
Lifetime Brands Inc. | 401,793 | 4,436 | ||||
* | Lulu's Fashion Lounge Holdings Inc. | 399,820 | 4,338 | |||
*,1 | Cricut Inc. Class A | 702,630 | 4,314 | |||
* | Party City Holdco Inc. | 3,179,416 | 4,197 | |||
* | PlayAGS Inc. | 787,936 | 4,066 | |||
*,1 | ThredUp Inc. Class A | 1,618,751 | 4,047 | |||
Weyco Group Inc. | 163,787 | 4,005 | ||||
*,1 | 1847 Goedeker Inc. | 3,235,400 | 3,947 | |||
*,1 | Rent the Runway Inc. Class A | 1,267,437 | 3,891 | |||
*,1 | XL Fleet Corp. | 3,375,016 | 3,881 | |||
*,1 | Outbrain Inc. | 769,654 | 3,871 | |||
*,1 | Red Robin Gourmet Burgers Inc. | 476,857 | 3,829 | |||
* | Strattec Security Corp. | 115,520 | 3,829 | |||
* | Lands' End Inc. | 360,080 | 3,824 | |||
*,1 | Lazydays Holdings Inc. | 322,637 | 3,801 | |||
* | Duluth Holdings Inc. Class B | 394,810 | 3,766 | |||
*,1 | Purple Innovation Inc. Class A | 1,223,047 | 3,742 | |||
*,1 | Urban One Inc. | 872,038 | 3,732 | |||
* | Potbelly Corp. | 657,716 | 3,716 | |||
*,1 | Owlet Inc. | 2,177,118 | 3,701 | |||
* | VOXX International Corp. Class A | 391,165 | 3,642 | |||
* | American Outdoor Brands Inc. | 382,680 | 3,639 | |||
* | Fiesta Restaurant Group Inc. | 503,077 | 3,592 | |||
* | Legacy Housing Corp. | 273,001 | 3,563 | |||
* | Lakeland Industries Inc. | 231,623 | 3,558 | |||
Wayside Technology Group Inc. | 106,412 | 3,537 | ||||
*,1 | Bowlero Corp. | 327,927 | 3,473 | |||
* | Express Inc. | 1,763,494 | 3,456 | |||
*,1 | Traeger Inc. | 804,140 | 3,418 | |||
*,1 | BARK Inc. | 2,622,674 | 3,357 | |||
*,1 | Arcimoto Inc. | 1,025,319 | 3,353 | |||
Saga Communications Inc. Class A | 134,076 | 3,332 | ||||
* | Audacy Inc. Class A | 3,524,360 | 3,321 |
Shares | Market Value• ($000) | |||||
Nathan's Famous Inc. | 56,557 | 3,313 | ||||
*,1 | Aterian Inc. | 1,506,119 | 3,253 | |||
Tile Shop Holdings Inc. | 1,046,763 | 3,214 | ||||
* | Barnes & Noble Education Inc. | 1,095,868 | 3,211 | |||
*,1 | Reservoir Media Inc. | 489,336 | 3,190 | |||
* | Vera Bradley Inc. | 727,256 | 3,156 | |||
*,1 | Conn's Inc. | 391,363 | 3,139 | |||
1 | Escalade Inc. | 237,945 | 3,091 | |||
* | Drive Shack Inc. | 2,198,385 | 3,012 | |||
*,1 | Nerdy Inc. | 1,399,438 | 2,981 | |||
*,1 | Redbox Entertainment Inc. | 402,900 | 2,981 | |||
*,1 | Cumulus Media Inc. Class A | 374,932 | 2,898 | |||
1 | Hamilton Beach Brands Holding Co. Class A | 228,579 | 2,837 | |||
* | Emerald Holding Inc. | 690,955 | 2,812 | |||
* | Arhaus Inc. Class A | 621,273 | 2,796 | |||
* | Lee Enterprises Inc. | 144,656 | 2,747 | |||
* | J. Jill Inc. | 149,771 | 2,739 | |||
* | Townsquare Media Inc. Class A | 333,509 | 2,731 | |||
Acme United Corp. | 85,199 | 2,698 | ||||
* | StoneMor Inc. | 770,131 | 2,634 | |||
1 | JOANN Inc. | 336,080 | 2,605 | |||
* | Superior Industries International Inc. | 651,563 | 2,574 | |||
1 | Flexsteel Industries Inc. | 135,656 | 2,442 | |||
Marine Products Corp. | 255,346 | 2,428 | ||||
* | Cooper-Standard Holdings Inc. | 476,164 | 2,376 | |||
*,1 | XpresSpa Group Inc. | 3,379,216 | 2,333 | |||
* | Biglari Holdings Inc. Class B | 18,772 | 2,303 | |||
*,1 | Solo Brands Inc. Class A | 563,217 | 2,287 | |||
*,1 | Cinedigm Corp. Class A | 4,518,243 | 2,223 | |||
*,1 | SRAX Inc. Class A | 625,336 | 2,076 | |||
* | Mesa Air Group Inc. | 931,159 | 2,039 | |||
*,1 | Revlon Inc. Class A | 347,600 | 1,884 | |||
* | Brilliant Earth Group Inc. Class A | 381,195 | 1,811 | |||
* | JAKKS Pacific Inc. | 142,014 | 1,798 | |||
Carrols Restaurant Group Inc. | 874,439 | 1,766 | ||||
* | BBQ Holdings Inc. | 168,157 | 1,752 | |||
* | Landsea Homes Corp. | 262,495 | 1,748 | |||
*,1 | Red Cat Holdings Inc. | 849,136 | 1,732 |
Shares | Market Value• ($000) | |||||
1 | National CineMedia Inc. | 1,852,064 | 1,697 | |||
* | Liberty TripAdvisor Holdings Inc. Class A | 2,227,933 | 1,686 | |||
* | Kewaunee Scientific Corp. | 96,393 | 1,593 | |||
* | Biglari Holdings Inc. Class A | 2,695 | 1,584 | |||
*,1 | Chicken Soup For The Soul Entertainment Inc. | 211,224 | 1,565 | |||
* | Gaia Inc. Class A | 367,401 | 1,561 | |||
*,1 | Envela Corp. | 212,016 | 1,512 | |||
* | Reading International Inc. Class A | 390,307 | 1,409 | |||
NL Industries Inc. | 140,483 | 1,387 | ||||
* | CuriosityStream Inc. | 813,729 | 1,375 | |||
*,1 | Kirkland's Inc. | 386,578 | 1,361 | |||
Canterbury Park Holding Corp. | 51,960 | 1,344 | ||||
* | Harte Hanks Inc. | 102,600 | 1,307 | |||
Crown Crafts Inc. | 207,623 | 1,300 | ||||
CompX International Inc. | 55,782 | 1,294 | ||||
* | Nautilus Inc. | 727,903 | 1,274 | |||
*,1 | CarLotz Inc. | 3,153,585 | 1,241 | |||
* | Travelzoo | 204,643 | 1,240 | |||
FAT Brands Inc. Class A | 153,984 | 1,147 | ||||
* | Zovio Inc. Class A | 1,156,564 | 1,122 | |||
DallasNews Corp. | 176,590 | 1,118 | ||||
*,1 | Shift Technologies Inc. Class A | 1,602,920 | 1,079 | |||
* | Cryptyde Inc. | 526,244 | 1,068 | |||
* | Good Times Restaurants Inc. | 350,945 | 1,056 | |||
*,1 | BurgerFi International Inc. | 315,878 | 1,020 | |||
Ark Restaurants Corp. | 55,702 | 1,003 | ||||
*,1 | Troika Media Group Inc. | 1,312,215 | 996 | |||
* | Fluent Inc. | 781,681 | 930 | |||
*,1 | LMP Automotive Holdings Inc. | 195,770 | 930 | |||
*,1 | Hall of Fame Resort & Entertainment Co. | 1,530,218 | 908 | |||
* | Live Ventures Inc. | 36,093 | 903 | |||
* | Salem Media Group Inc. Class A | 419,347 | 889 | |||
*,1 | EBET Inc. | 369,532 | 887 | |||
*,1 | Koss Corp. | 124,275 | 864 | |||
Educational Development Corp. | 202,269 | 854 |
Shares | Market Value• ($000) | |||||
*,1 | Regis Corp. | 776,100 | 838 | |||
*,1 | LiveOne Inc. | 946,083 | 810 | |||
*,2 | Luby's Inc. | 449,752 | 801 | |||
* | Charles & Colvard Ltd. | 610,246 | 757 | |||
* | Marchex Inc. Class B | 546,577 | 721 | |||
*,1 | Dolphin Entertainment Inc. | 220,039 | 695 | |||
* | Vince Holding Corp. | 85,410 | 670 | |||
*,1 | Tuesday Morning Corp. | 1,753,307 | 631 | |||
* | iMedia Brands Inc. | 512,961 | 621 | |||
* | Urban One Inc. Class A | 109,101 | 596 | |||
*,1 | AYRO Inc. | 711,308 | 596 | |||
* | Aspen Group Inc. | 584,353 | 573 | |||
*,1 | InterGroup Corp. | 12,233 | 514 | |||
* | Volcon Inc. | 269,584 | 496 | |||
* | Allied Esports Entertainment Inc. | 342,015 | 489 | |||
* | Dixie Group Inc. | 344,452 | 441 | |||
* | Beasley Broadcast Group Inc. Class A | 314,502 | 403 | |||
* | FlexShopper Inc. | 425,184 | 382 | |||
Jerash Holdings US Inc. | 77,252 | 364 | ||||
Flanigan's Enterprises Inc. | 11,919 | 358 | ||||
*,1 | Sky Harbour Group Corp. | 57,536 | 326 | |||
* | HyreCar Inc. | 526,051 | 321 | |||
* | EzFill Holdings Inc. | 386,132 | 309 | |||
* | Xcel Brands Inc. | 247,453 | 292 | |||
*,1 | PARTS iD Inc. | 148,893 | 231 | |||
* | Auddia Inc. | 264,100 | 231 | |||
*,1 | Forward Industries Inc. | 144,468 | 214 | |||
*,1 | Applied UV Inc. | 86,071 | 195 | |||
* | Muscle Maker Inc. | 487,573 | 188 | |||
*,1 | Digital Media Solutions Inc. | 138,956 | 154 | |||
* | Mediaco Holding Inc. Class A | 67,571 | 141 | |||
*,1 | Amesite Inc. | 292,757 | 135 | |||
FAT Brands Inc. Class B | 16,647 | 128 | ||||
* | Unique Fabricating Inc. | 83,389 | 113 | |||
*,1 | Moving Image Technologies Inc. | 78,388 | 102 | |||
* | Stran & Co. Inc. | 55,769 | 93 | |||
* | Twin Vee PowerCats Co. | 34,692 | 93 | |||
*,2 | Zagg Inc. CVR | 780,631 | 70 | |||
* | Lottery.com Inc. | 61,239 | 69 | |||
*,1 | Digital Brands Group Inc. | 296,678 | 58 |
Shares | Market Value• ($000) | |||||
* | Grom Social Enterprises Inc. | 134,277 | 55 | |||
* | IDW Media Holdings Inc. Class B | 40,047 | 54 | |||
*,2 | SRAX Inc. | 590,641 | 41 | |||
* | Rave Restaurant Group Inc. | 21,026 | 23 | |||
* | Emerson Radio Corp. | 6,500 | 4 | |||
151,987,648 | ||||||
Consumer Staples (5.8%) | ||||||
Procter & Gamble Co. | 70,738,780 | 10,171,529 | ||||
Coca-Cola Co. | 115,011,245 | 7,235,357 | ||||
PepsiCo Inc. | 40,757,436 | 6,792,634 | ||||
Philip Morris International Inc. | 45,709,277 | 4,513,334 | ||||
CVS Health Corp. | 38,666,422 | 3,582,831 | ||||
Mondelez International Inc. Class A | 40,778,944 | 2,531,965 | ||||
Altria Group Inc. | 53,389,117 | 2,230,063 | ||||
Colgate-Palmolive Co. | 24,691,859 | 1,978,806 | ||||
McKesson Corp. | 4,274,066 | 1,394,243 | ||||
Kimberly-Clark Corp. | 9,935,524 | 1,342,786 | ||||
General Mills Inc. | 17,749,334 | 1,339,187 | ||||
Archer-Daniels-Midland Co. | 16,592,401 | 1,287,570 | ||||
Sysco Corp. | 15,021,612 | 1,272,481 | ||||
Corteva Inc. | 21,383,557 | 1,157,706 | ||||
* | Monster Beverage Corp. | 10,937,118 | 1,013,871 | |||
Constellation Brands Inc. Class A | 4,319,447 | 1,006,690 | ||||
Hershey Co. | 4,301,572 | 925,526 | ||||
Kroger Co. | 19,144,445 | 906,107 | ||||
Keurig Dr Pepper Inc. | 25,091,998 | 888,006 | ||||
Walgreens Boots Alliance Inc. | 21,641,736 | 820,222 | ||||
Kraft Heinz Co. | 19,856,232 | 757,317 | ||||
Tyson Foods Inc. Class A | 8,593,343 | 739,543 | ||||
Church & Dwight Co. Inc. | 7,155,236 | 663,004 | ||||
AmerisourceBergen Corp. | 4,630,015 | 655,055 | ||||
Brown-Forman Corp. Class B | 9,265,436 | 650,063 | ||||
McCormick & Co. Inc. (Non-Voting) | 7,375,565 | 614,016 | ||||
Kellogg Co. | 7,471,210 | 532,996 | ||||
Clorox Co. | 3,627,771 | 511,443 | ||||
Conagra Brands Inc. | 14,137,169 | 484,057 | ||||
Bunge Ltd. | 4,469,144 | 405,307 | ||||
J M Smucker Co. | 3,040,368 | 389,198 | ||||
Hormel Foods Corp. | 8,044,848 | 381,004 |
Shares | Market Value• ($000) | |||||
Lamb Weston Holdings Inc. | 4,260,316 | 304,442 | ||||
Molson Coors Beverage Co. Class B | 5,324,278 | 290,226 | ||||
* | Darling Ingredients Inc. | 4,764,130 | 284,895 | |||
Campbell Soup Co. | 5,775,988 | 277,536 | ||||
* | Performance Food Group Co. | 4,562,703 | 209,793 | |||
* | US Foods Holding Corp. | 6,602,563 | 202,567 | |||
Casey's General Stores Inc. | 1,092,442 | 202,080 | ||||
Ingredion Inc. | 1,859,199 | 163,907 | ||||
Flowers Foods Inc. | 5,304,303 | 139,609 | ||||
Sanderson Farms Inc. | 624,141 | 134,521 | ||||
* | Post Holdings Inc. | 1,609,979 | 132,582 | |||
* | Grocery Outlet Holding Corp. | 2,562,291 | 109,230 | |||
Spectrum Brands Holdings Inc. | 1,204,366 | 98,782 | ||||
* | Simply Good Foods Co. | 2,527,317 | 95,457 | |||
* | Hostess Brands Inc. Class A | 4,086,466 | 86,674 | |||
* | BellRing Brands Inc. | 3,410,003 | 84,875 | |||
* | Boston Beer Co. Inc. Class A | 271,517 | 82,261 | |||
* | Sprouts Farmers Market Inc. | 3,235,503 | 81,923 | |||
WD-40 Co. | 405,831 | 81,718 | ||||
* | Celsius Holdings Inc. | 1,220,408 | 79,644 | |||
Coca-Cola Consolidated Inc. | 136,100 | 76,747 | ||||
Lancaster Colony Corp. | 574,026 | 73,923 | ||||
* | TreeHouse Foods Inc. | 1,660,641 | 69,448 | |||
* | Freshpet Inc. | 1,337,149 | 69,385 | |||
* | United Natural Foods Inc. | 1,714,198 | 67,539 | |||
Medifast Inc. | 338,200 | 61,048 | ||||
Nu Skin Enterprises Inc. Class A | 1,407,134 | 60,929 | ||||
Primo Water Corp. | 4,521,307 | 60,495 | ||||
Energizer Holdings Inc. | 2,111,708 | 59,867 | ||||
Albertsons Cos. Inc. Class A | 2,238,215 | 59,805 | ||||
* | Hain Celestial Group Inc. | 2,515,552 | 59,719 | |||
* | Herbalife Nutrition Ltd. | 2,865,929 | 58,608 | |||
Cal-Maine Foods Inc. | 1,171,961 | 57,907 | ||||
Edgewell Personal Care Co. | 1,558,972 | 53,816 |
Shares | Market Value• ($000) | |||||
1 | B&G Foods Inc. | 2,024,201 | 48,135 | |||
J & J Snack Foods Corp. | 343,046 | 47,910 | ||||
* | Pilgrim's Pride Corp. | 1,420,069 | 44,349 | |||
Reynolds Consumer Products Inc. | 1,590,363 | 43,369 | ||||
Universal Corp. | 704,767 | 42,638 | ||||
MGP Ingredients Inc. | 420,355 | 42,073 | ||||
Vector Group Ltd. | 3,879,087 | 40,730 | ||||
*,1 | Beyond Meat Inc. | 1,698,691 | 40,667 | |||
* | Olaplex Holdings Inc. | 2,859,683 | 40,293 | |||
* | Chefs' Warehouse Inc. | 1,016,668 | 39,538 | |||
* | Beauty Health Co. | 2,896,815 | 37,253 | |||
Ingles Markets Inc. Class A | 424,618 | 36,836 | ||||
Weis Markets Inc. | 481,664 | 35,903 | ||||
National Beverage Corp. | 702,281 | 34,370 | ||||
Fresh Del Monte Produce Inc. | 1,142,192 | 33,729 | ||||
SpartanNash Co. | 1,014,112 | 30,596 | ||||
Andersons Inc. | 912,203 | 30,094 | ||||
Utz Brands Inc. | 2,023,744 | 27,968 | ||||
Brown-Forman Corp. Class A | 394,662 | 26,695 | ||||
Seaboard Corp. | 6,801 | 26,405 | ||||
* | USANA Health Sciences Inc. | 332,532 | 24,062 | |||
* | Duckhorn Portfolio Inc. | 1,039,351 | 21,889 | |||
*,1 | Veru Inc. | 1,876,315 | 21,202 | |||
Calavo Growers Inc. | 496,532 | 20,715 | ||||
John B Sanfilippo & Son Inc. | 265,454 | 19,243 | ||||
ACCO Brands Corp. | 2,699,151 | 17,625 | ||||
Tootsie Roll Industries Inc. | 403,643 | 14,269 | ||||
* | Mission Produce Inc. | 1,001,161 | 14,267 | |||
Turning Point Brands Inc. | 456,482 | 12,384 | ||||
*,1 | 22nd Century Group Inc. | 5,522,465 | 11,763 | |||
1 | PetMed Express Inc. | 582,280 | 11,587 | |||
* | Sovos Brands Inc. | 716,600 | 11,372 | |||
*,1 | Rite Aid Corp. | 1,550,572 | 10,451 | |||
* | Seneca Foods Corp. Class A | 162,229 | 9,010 | |||
*,1 | Benson Hill Inc. | 3,024,692 | 8,288 | |||
*,1 | Tattooed Chef Inc. | 1,213,645 | 7,646 | |||
* | Landec Corp. | 751,182 | 7,489 | |||
Limoneira Co. | 456,481 | 6,432 | ||||
* | Whole Earth Brands Inc. | 1,037,374 | 6,432 | |||
*,1 | Vita Coco Co. Inc. | 654,853 | 6,411 | |||
*,1 | AppHarvest Inc. | 1,815,100 | 6,335 | |||
*,1 | PLBY Group Inc. | 930,659 | 5,956 |
Shares | Market Value• ($000) | |||||
*,1 | GrowGeneration Corp. | 1,657,947 | 5,952 | |||
*,1 | HF Foods Group Inc. | 1,044,964 | 5,455 | |||
* | Nature's Sunshine Products Inc. | 490,888 | 5,238 | |||
Natural Grocers by Vitamin Cottage Inc. | 315,515 | 5,032 | ||||
Village Super Market Inc. Class A | 219,880 | 5,015 | ||||
ProPhase Labs Inc. | 388,369 | 4,925 | ||||
1 | Oil-Dri Corp. of America | 153,584 | 4,707 | |||
Alico Inc. | 128,257 | 4,570 | ||||
* | Vital Farms Inc. | 469,787 | 4,111 | |||
* | Honest Co. Inc. | 1,363,479 | 3,981 | |||
*,1 | AquaBounty Technologies Inc. | 2,221,024 | 3,798 | |||
*,1 | Splash Beverage Group Inc. | 1,021,713 | 3,055 | |||
*,1 | Local Bounti Corp. | 856,440 | 2,723 | |||
Lifevantage Corp. | 437,030 | 1,901 | ||||
*,1 | Blue Apron Holdings Inc. Class A | 499,925 | 1,820 | |||
* | Natural Alternatives International Inc. | 162,521 | 1,697 | |||
Ocean Bio-Chem Inc. | 124,500 | 1,604 | ||||
*,1 | BRC Inc. Class A | 196,100 | 1,600 | |||
*,1 | Barfresh Food Group Inc. | 278,615 | 1,574 | |||
*,1 | MedAvail Holdings Inc. | 997,045 | 1,525 | |||
* | Farmer Bros Co. | 293,967 | 1,379 | |||
* | Real Good Food Co. Inc. Class A | 175,743 | 1,235 | |||
*,1 | LifeMD Inc. | 533,737 | 1,089 | |||
* | Urban-Gro Inc. | 224,273 | 1,085 | |||
* | RiceBran Technologies | 1,534,464 | 1,028 | |||
AMCON Distributing Co. | 6,105 | 995 | ||||
*,1 | Alkaline Water Co. Inc. | 2,518,226 | 990 | |||
*,1 | Kaival Brands Innovations Group Inc. | 602,288 | 952 | |||
* | Rocky Mountain Chocolate Factory Inc. | 133,036 | 917 | |||
*,1 | Zevia PBC Class A | 319,686 | 898 | |||
* | Willamette Valley Vineyards Inc. | 139,231 | 873 | |||
*,1 | NewAge Inc. | 3,463,651 | 776 | |||
* | Better Choice Co. Inc. | 297,634 | 655 | |||
* | S&W Seed Co. | 566,099 | 572 | |||
Coffee Holding Co. Inc. | 230,234 | 562 |
Shares | Market Value• ($000) | |||||
* | Bridgford Foods Corp. | 39,983 | 527 | |||
Mannatech Inc. | 30,953 | 515 | ||||
*,1 | Arcadia Biosciences Inc. | 483,138 | 483 | |||
* | MamaMancini's Holdings Inc. | 332,476 | 465 | |||
*,1 | Boxed Inc. | 228,600 | 423 | |||
* | Lifeway Foods Inc. | 78,472 | 390 | |||
* | Reed's Inc. | 2,402,268 | 375 | |||
*,1 | Greenlane Holdings Inc. Class A | 1,732,911 | 340 | |||
*,1 | Laird Superfood Inc. | 174,620 | 334 | |||
* | Nuzee Inc. | 319,610 | 323 | |||
* | Zivo Bioscience Inc. | 81,788 | 321 | |||
* | Stryve Foods Inc. Class A | 316,090 | 278 | |||
* | Eastside Distilling Inc. | 341,987 | 236 | |||
*,1 | Yield10 Bioscience Inc. | 75,975 | 171 | |||
*,1 | Guardion Health Sciences Inc. | 787,758 | 114 | |||
*,1 | Calyxt Inc. | 73,912 | 18 | |||
* | Blue Star Foods Corp. | 9,131 | 11 | |||
* | Winc Inc. | 3,200 | 5 | |||
64,319,872 | ||||||
Energy (4.4%) | ||||||
Exxon Mobil Corp. | 124,203,497 | 10,636,787 | ||||
Chevron Corp. | 52,137,944 | 7,548,532 | ||||
ConocoPhillips | 38,138,209 | 3,425,193 | ||||
EOG Resources Inc. | 17,273,532 | 1,907,689 | ||||
Pioneer Natural Resources Co. | 6,776,997 | 1,511,812 | ||||
Schlumberger NV | 41,681,306 | 1,490,523 | ||||
Marathon Petroleum Corp. | 15,947,490 | 1,311,043 | ||||
Occidental Petroleum Corp. | 22,109,458 | 1,301,805 | ||||
Valero Energy Corp. | 12,034,190 | 1,278,994 | ||||
Phillips 66 | 14,187,582 | 1,163,240 | ||||
Williams Cos. Inc. | 35,907,633 | 1,120,677 | ||||
Devon Energy Corp. | 19,454,738 | 1,072,151 | ||||
Kinder Morgan Inc. | 60,159,076 | 1,008,266 | ||||
Cheniere Energy Inc. | 6,746,764 | 897,522 | ||||
Hess Corp. | 8,261,338 | 875,206 | ||||
Baker Hughes Co. | 29,033,841 | 838,207 | ||||
* | Enphase Energy Inc. | 3,981,880 | 777,422 | |||
Halliburton Co. | 23,935,771 | 750,626 | ||||
ONEOK Inc. | 13,166,919 | 730,764 | ||||
Diamondback Energy Inc. | 5,236,548 | 634,408 | ||||
Coterra Energy Inc. | 22,583,114 | 582,418 | ||||
Marathon Oil Corp. | 20,863,815 | 469,019 |
Shares | Market Value• ($000) | |||||
Targa Resources Corp. | 6,719,087 | 400,928 | ||||
APA Corp. | 9,967,848 | 347,878 | ||||
EQT Corp. | 9,803,104 | 337,227 | ||||
Ovintiv Inc. | 7,613,982 | 336,462 | ||||
1 | Chesapeake Energy Corp. | 3,750,050 | 304,129 | |||
*,1 | Plug Power Inc. | 17,043,022 | 282,403 | |||
Texas Pacific Land Corp. | 182,639 | 271,770 | ||||
* | Antero Resources Corp. | 8,254,948 | 253,014 | |||
* | Southwestern Energy Co. | 32,909,136 | 205,682 | |||
NOV Inc. | 11,573,981 | 195,716 | ||||
HF Sinclair Corp. | 4,284,496 | 193,488 | ||||
* | First Solar Inc. | 2,832,011 | 192,945 | |||
* | Range Resources Corp. | 7,566,643 | 187,274 | |||
PDC Energy Inc. | 2,929,711 | 180,499 | ||||
Matador Resources Co. | 3,301,499 | 153,817 | ||||
DT Midstream Inc. | 2,859,055 | 140,151 | ||||
Murphy Oil Corp. | 4,345,550 | 131,192 | ||||
SM Energy Co. | 3,585,470 | 122,587 | ||||
Helmerich & Payne Inc. | 2,800,509 | 120,590 | ||||
ChampionX Corp. | 6,002,707 | 119,154 | ||||
Magnolia Oil & Gas Corp. Class A | 5,089,667 | 106,832 | ||||
Continental Resources Inc. | 1,609,618 | 105,189 | ||||
*,1 | ChargePoint Holdings Inc. | 7,417,076 | 101,540 | |||
Patterson-UTI Energy Inc. | 6,402,767 | 100,908 | ||||
California Resources Corp. | 2,280,201 | 87,788 | ||||
* | PBF Energy Inc. Class A | 3,016,006 | 87,524 | |||
* | Denbury Inc. | 1,410,908 | 84,640 | |||
Antero Midstream Corp. | 9,209,811 | 83,349 | ||||
Whiting Petroleum Corp. | 1,153,802 | 78,493 | ||||
Civitas Resources Inc. | 1,498,593 | 78,361 | ||||
Equitrans Midstream Corp. | 12,142,423 | 77,226 | ||||
* | CNX Resources Corp. | 4,593,446 | 75,608 | |||
* | Peabody Energy Corp. | 3,384,133 | 72,184 | |||
Cactus Inc. Class A | 1,690,039 | 68,058 | ||||
Arcosa Inc. | 1,427,186 | 66,264 | ||||
Arch Resources Inc. | 455,283 | 65,146 | ||||
Chord Energy Corp. | 516,850 | 62,875 |
Shares | Market Value• ($000) | |||||
1 | New Fortress Energy Inc. Class A | 1,537,218 | 60,828 | |||
Alpha Metallurgical Resources Inc. | 469,745 | 60,658 | ||||
* | NexTier Oilfield Solutions Inc. | 6,122,995 | 58,230 | |||
* | Transocean Ltd. | 17,029,448 | 56,708 | |||
* | Delek US Holdings Inc. | 2,101,758 | 54,309 | |||
* | Liberty Energy Inc. Class A | 4,146,515 | 52,910 | |||
Enviva Inc. | 888,178 | 50,822 | ||||
* | Callon Petroleum Co. | 1,277,414 | 50,075 | |||
Northern Oil & Gas Inc. | 1,933,569 | 48,842 | ||||
Warrior Met Coal Inc. | 1,520,799 | 46,552 | ||||
* | Array Technologies Inc. | 4,216,459 | 46,423 | |||
* | Tellurian Inc. | 15,051,151 | 44,852 | |||
* | Weatherford International plc | 2,074,309 | 43,913 | |||
* | Green Plains Inc. | 1,507,146 | 40,949 | |||
* | Ameresco Inc. Class A | 893,874 | 40,725 | |||
*,1 | SunPower Corp. | 2,566,737 | 40,580 | |||
*,1 | FuelCell Energy Inc. | 10,238,717 | 38,395 | |||
* | CONSOL Energy Inc. | 766,531 | 37,851 | |||
Brigham Minerals Inc. Class A | 1,485,208 | 36,581 | ||||
Archrock Inc. | 4,374,286 | 36,175 | ||||
World Fuel Services Corp. | 1,759,361 | 35,997 | ||||
* | Nabors Industries Ltd. | 262,404 | 35,136 | |||
* | Centennial Resource Development Inc. Class A | 5,857,731 | 35,029 | |||
* | Laredo Petroleum Inc. | 484,748 | 33,419 | |||
* | NOW Inc. | 3,285,839 | 32,135 | |||
* | Oceaneering International Inc. | 2,965,542 | 31,672 | |||
*,1 | Stem Inc. | 4,320,625 | 30,936 | |||
* | Noble Corp. | 1,199,760 | 30,414 | |||
* | Shoals Technologies Group Inc. Class A | 1,817,962 | 29,960 | |||
CVR Energy Inc. | 892,260 | 29,891 | ||||
* | Gulfport Energy Corp. | 371,646 | 29,550 | |||
* | Comstock Resources Inc. | 2,416,688 | 29,194 | |||
* | Talos Energy Inc. | 1,818,205 | 28,128 | |||
1 | Core Laboratories NV | 1,385,507 | 27,447 | |||
* | Dril-Quip Inc. | 1,021,571 | 26,357 | |||
* | ProPetro Holding Corp. | 2,616,764 | 26,168 |
Shares | Market Value• ($000) | |||||
* | Tidewater Inc. | 1,118,301 | 23,585 | |||
* | Par Pacific Holdings Inc. | 1,499,354 | 23,375 | |||
* | MRC Global Inc. | 2,310,782 | 23,015 | |||
* | Ranger Oil Corp. | 618,155 | 20,319 | |||
*,1 | Earthstone Energy Inc. Class A | 1,278,456 | 17,451 | |||
* | Diamond Offshore Drilling Inc. | 2,931,400 | 17,266 | |||
*,1 | Montauk Renewables Inc. | 1,696,905 | 17,054 | |||
SunCoke Energy Inc. | 2,447,439 | 16,667 | ||||
* | Bristow Group Inc. Class A | 672,064 | 15,726 | |||
* | RPC Inc. | 2,243,403 | 15,502 | |||
Berry Corp. | 2,012,714 | 15,337 | ||||
* | SandRidge Energy Inc. | 920,016 | 14,417 | |||
* | TETRA Technologies Inc. | 3,406,248 | 13,829 | |||
* | REX American Resources Corp. | 159,051 | 13,488 | |||
1 | Kinetik Holdings Inc. Class A | 393,252 | 13,426 | |||
* | Helix Energy Solutions Group Inc. | 4,308,876 | 13,358 | |||
*,1 | Gevo Inc. | 5,623,822 | 13,216 | |||
* | Select Energy Services Inc. Class A | 1,903,133 | 12,979 | |||
* | TPI Composites Inc. | 1,021,229 | 12,765 | |||
*,1 | EVgo Inc. | 2,025,625 | 12,174 | |||
* | W&T Offshore Inc. | 2,772,648 | 11,978 | |||
1 | Crescent Energy Co. Class A | 934,596 | 11,664 | |||
1 | VAALCO Energy Inc. | 1,607,993 | 11,159 | |||
Solaris Oilfield Infrastructure Inc. Class A | 924,192 | 10,055 | ||||
*,1 | Fluence Energy Inc. Class A | 1,056,062 | 10,011 | |||
* | DMC Global Inc. | 547,995 | 9,880 | |||
* | Oil States International Inc. | 1,780,574 | 9,651 | |||
*,1 | SilverBow Resources Inc. | 325,084 | 9,219 | |||
Ramaco Resources Inc. | 651,180 | 8,563 | ||||
* | Centrus Energy Corp. Class A | 342,567 | 8,479 | |||
*,1 | ProFrac Holding Corp. Class A | 459,789 | 8,419 | |||
Sitio Royalties Corp. | 329,389 | 7,635 | ||||
* | Newpark Resources Inc. | 2,465,453 | 7,618 | |||
*,1 | NextDecade Corp. | 1,693,218 | 7,518 | |||
* | Amplify Energy Corp. | 1,044,290 | 6,830 | |||
*,1 | Ring Energy Inc. | 2,166,776 | 5,764 |
Shares | Market Value• ($000) | |||||
*,1 | Solid Power Inc. | 998,000 | 5,369 | |||
*,1 | Aemetis Inc. | 909,905 | 4,468 | |||
*,1 | ESS Tech Inc. | 1,588,400 | 4,463 | |||
*,1 | Camber Energy Inc. | 10,962,939 | 4,356 | |||
*,1 | Volta Inc. | 3,314,921 | 4,309 | |||
Evolution Petroleum Corp. | 784,579 | 4,284 | ||||
*,1 | FTC Solar Inc. | 1,180,200 | 4,272 | |||
NACCO Industries Inc. Class A | 111,685 | 4,233 | ||||
*,1 | Beam Global | 268,717 | 4,170 | |||
* | Matrix Service Co. | 756,599 | 3,828 | |||
* | American Superconductor Corp. | 706,925 | 3,662 | |||
* | Ranger Energy Services Inc. Class A | 357,073 | 3,621 | |||
* | Natural Gas Services Group Inc. | 320,025 | 3,520 | |||
*,1 | Hallador Energy Co. | 634,784 | 3,434 | |||
* | SEACOR Marine Holdings Inc. | 528,307 | 3,043 | |||
* | Exterran Corp. | 689,135 | 2,963 | |||
*,1 | Empire Petroleum Corp. | 234,700 | 2,786 | |||
Epsilon Energy Ltd. | 433,717 | 2,555 | ||||
PHX Minerals Inc. | 779,043 | 2,368 | ||||
* | Forum Energy Technologies Inc. | 119,145 | 2,338 | |||
*,1 | Advent Technologies Holdings Inc. | 906,752 | 2,285 | |||
*,1 | Nabors Industries Ltd. Warrants Exp. 6/11/26 | 70,676 | 2,260 | |||
Adams Resources & Energy Inc. | 67,642 | 2,177 | ||||
*,1 | American Resources Corp. | 1,448,956 | 2,101 | |||
* | Geospace Technologies Corp. | 385,060 | 1,825 | |||
* | Ideal Power Inc. | 149,114 | 1,825 | |||
* | Battalion Oil Corp. | 207,283 | 1,768 | |||
*,1 | Flotek Industries Inc. | 1,758,250 | 1,744 | |||
*,1 | Ecoark Holdings Inc. | 606,969 | 1,590 | |||
*,1 | Sunworks Inc. | 1,002,214 | 1,583 | |||
* | PrimeEnergy Resources Corp. | 18,526 | 1,452 | |||
*,1 | KLX Energy Services Holdings Inc. | 293,070 | 1,269 | |||
* | Gulf Island Fabrication Inc. | 364,861 | 1,222 | |||
*,1 | US Well Services Inc. | 1,260,270 | 1,184 | |||
* | Profire Energy Inc. | 786,592 | 1,133 | |||
* | Nine Energy Service Inc. | 409,723 | 1,086 |
Shares | Market Value• ($000) | |||||
*,1 | Houston American Energy Corp. | 226,500 | 1,040 | |||
* | PEDEVCO Corp. | 768,132 | 883 | |||
* | iSun Inc. | 262,173 | 852 | |||
* | Smart Sand Inc. | 400,307 | 801 | |||
* | Capstone Green Energy Corp. | 315,496 | 779 | |||
* | Mexco Energy Corp. | 44,605 | 767 | |||
* | Enservco Corp. | 374,605 | 734 | |||
*,1 | Ocean Power Technologies Inc. | 1,300,479 | 733 | |||
* | Barnwell Industries Inc. | 267,900 | 630 | |||
* | Mammoth Energy Services Inc. | 231,389 | 509 | |||
* | Independence Contract Drilling Inc. | 158,897 | 497 | |||
US Energy Corp. Wyoming | 140,626 | 487 | ||||
* | NCS Multistage Holdings Inc. | 15,582 | 477 | |||
* | Dawson Geophysical Co. | 288,312 | 386 | |||
* | MIND Technology Inc. | 424,703 | 374 | |||
* | Stabilis Solutions Inc. | 67,322 | 270 | |||
* | Superior Drilling Products Inc. | 247,328 | 245 | |||
* | Energy Services of America Corp. | 101,160 | 208 | |||
*,1 | New Concept Energy Inc. | 121,740 | 187 | |||
Pineapple Energy Inc. | 69,639 | 163 | ||||
*,2 | Pineapple Energy Inc. CVR | 69,639 | 8 | |||
* | Tidewater Inc. Class A Warrants Exp. 7/31/23 | 8,839 | 6 | |||
*,1 | Tidewater Inc. Class B Warrants Exp. 7/31/23 | 9,555 | 3 | |||
*,1,2 | Harvest Natural Resources Inc. | 51,829 | — | |||
49,229,983 | ||||||
Financials (11.1%) | ||||||
* | Berkshire Hathaway Inc. Class B | 49,381,847 | 13,482,232 | |||
JPMorgan Chase & Co. | 86,593,445 | 9,751,288 | ||||
Bank of America Corp. | 201,895,310 | 6,285,001 | ||||
Wells Fargo & Co. | 111,756,788 | 4,377,513 | ||||
S&P Global Inc. | 10,021,093 | 3,377,710 | ||||
Morgan Stanley | 41,262,258 | 3,138,407 | ||||
Goldman Sachs Group Inc. | 9,688,746 | 2,877,751 |
Shares | Market Value• ($000) | |||||
Charles Schwab Corp. | 45,543,506 | 2,877,439 | ||||
BlackRock Inc. | 4,243,317 | 2,584,350 | ||||
Citigroup Inc. | 54,387,860 | 2,501,298 | ||||
Chubb Ltd. | 11,862,901 | 2,332,009 | ||||
Marsh & McLennan Cos. Inc. | 14,816,993 | 2,300,338 | ||||
CME Group Inc. | 10,597,924 | 2,169,395 | ||||
Progressive Corp. | 17,245,778 | 2,005,167 | ||||
PNC Financial Services Group Inc. | 12,190,949 | 1,923,366 | ||||
Blackstone Inc. | 20,662,468 | 1,885,037 | ||||
Truist Financial Corp. | 39,247,348 | 1,861,502 | ||||
US Bancorp | 39,417,641 | 1,814,000 | ||||
Aon plc Class A | 5,949,142 | 1,604,365 | ||||
Intercontinental Exchange Inc. | 16,458,422 | 1,547,750 | ||||
Moody's Corp. | 4,623,938 | 1,257,572 | ||||
Travelers Cos. Inc. | 7,073,709 | 1,196,376 | ||||
American International Group Inc. | 23,359,198 | 1,194,356 | ||||
MetLife Inc. | 17,961,855 | 1,127,825 | ||||
Prudential Financial Inc. | 11,057,139 | 1,057,947 | ||||
Allstate Corp. | 8,109,846 | 1,027,761 | ||||
Arthur J Gallagher & Co. | 6,196,420 | 1,010,264 | ||||
Aflac Inc. | 17,082,895 | 945,197 | ||||
MSCI Inc. | 2,276,973 | 938,454 | ||||
Bank of New York Mellon Corp. | 21,445,358 | 894,486 | ||||
M&T Bank Corp. | 5,292,809 | 843,621 | ||||
Discover Financial Services | 8,285,875 | 783,678 | ||||
Ameriprise Financial Inc. | 3,239,847 | 770,047 | ||||
KKR & Co. Inc. | 16,613,042 | 769,018 | ||||
First Republic Bank | 5,300,726 | 764,365 | ||||
T. Rowe Price Group Inc. | 6,701,695 | 761,380 | ||||
* | SVB Financial Group | 1,736,057 | 685,725 | |||
Fifth Third Bancorp | 20,235,065 | 679,898 | ||||
Willis Towers Watson plc | 3,288,328 | 649,083 | ||||
Hartford Financial Services Group Inc. | 9,695,083 | 634,349 | ||||
Northern Trust Corp. | 5,840,743 | 563,515 | ||||
Cincinnati Financial Corp. | 4,496,323 | 534,973 | ||||
Citizens Financial Group Inc. | 14,616,639 | 521,668 | ||||
Nasdaq Inc. | 3,396,770 | 518,143 | ||||
Regions Financial Corp. | 27,580,175 | 517,128 | ||||
Raymond James Financial Inc. | 5,750,546 | 514,156 |
Shares | Market Value• ($000) | |||||
Huntington Bancshares Inc. | 42,477,412 | 511,003 | ||||
Principal Financial Group Inc. | 7,446,782 | 497,371 | ||||
Broadridge Financial Solutions Inc. | 3,459,601 | 493,166 | ||||
* | Markel Corp. | 379,910 | 491,319 | |||
* | Arch Capital Group Ltd. | 10,517,961 | 478,462 | |||
State Street Corp. | 7,697,026 | 474,522 | ||||
KeyCorp | 27,454,631 | 473,043 | ||||
Apollo Global Management Inc. | 9,329,168 | 452,278 | ||||
* | Berkshire Hathaway Inc. Class A | 1,051 | 429,806 | |||
FactSet Research Systems Inc. | 1,117,373 | 429,708 | ||||
LPL Financial Holdings Inc. | 2,238,146 | 412,893 | ||||
W R Berkley Corp. | 5,855,085 | 399,668 | ||||
Brown & Brown Inc. | 6,655,491 | 388,281 | ||||
Loews Corp. | 6,164,076 | 365,283 | ||||
Cboe Global Markets Inc. | 3,131,580 | 354,464 | ||||
First Horizon Corp. | 15,782,000 | 344,995 | ||||
Everest Re Group Ltd. | 1,161,310 | 325,492 | ||||
* | Alleghany Corp. | 376,486 | 313,650 | |||
Ally Financial Inc. | 9,048,326 | 303,209 | ||||
American Financial Group Inc. | 2,134,644 | 296,310 | ||||
Equitable Holdings Inc. | 11,215,973 | 292,400 | ||||
Fidelity National Financial Inc. | 7,848,549 | 290,082 | ||||
Comerica Inc. | 3,857,337 | 283,051 | ||||
Signature Bank | 1,558,013 | 279,212 | ||||
Assurant Inc. | 1,592,685 | 275,296 | ||||
East West Bancorp Inc. | 4,185,273 | 271,206 | ||||
Annaly Capital Management Inc. | 45,880,601 | 271,154 | ||||
MarketAxess Holdings Inc. | 1,057,980 | 270,853 | ||||
Ares Management Corp. Class A | 4,557,393 | 259,133 | ||||
Globe Life Inc. | 2,620,303 | 255,401 | ||||
Carlyle Group Inc. | 7,464,433 | 236,324 | ||||
Reinsurance Group of America Inc. | 1,979,128 | 232,132 | ||||
First Citizens BancShares Inc. Class A | 353,615 | 231,186 | ||||
Zions Bancorp NA | 4,467,487 | 227,395 | ||||
Webster Financial Corp. | 5,264,020 | 221,878 |
Shares | Market Value• ($000) | |||||
Tradeweb Markets Inc. Class A | 3,169,212 | 216,299 | ||||
Invesco Ltd. | 13,398,382 | 216,116 | ||||
Western Alliance Bancorp | 3,036,373 | 214,368 | ||||
Lincoln National Corp. | 4,574,648 | 213,956 | ||||
Commerce Bancshares Inc. | 3,208,863 | 210,662 | ||||
Franklin Resources Inc. | 8,828,822 | 205,800 | ||||
RenaissanceRe Holdings Ltd. | 1,303,078 | 203,762 | ||||
Cullen/Frost Bankers Inc. | 1,699,022 | 197,851 | ||||
SEI Investments Co. | 3,637,708 | 196,509 | ||||
*,1 | Coinbase Global Inc. Class A | 4,101,415 | 192,849 | |||
Morningstar Inc. | 758,302 | 183,380 | ||||
Old Republic International Corp. | 8,183,092 | 182,974 | ||||
Voya Financial Inc. | 3,012,030 | 179,306 | ||||
Starwood Property Trust Inc. | 8,574,956 | 179,131 | ||||
Prosperity Bancshares Inc. | 2,583,879 | 176,401 | ||||
SouthState Corp. | 2,224,668 | 171,633 | ||||
Unum Group | 5,035,789 | 171,318 | ||||
AGNC Investment Corp. | 15,445,510 | 170,982 | ||||
Stifel Financial Corp. | 2,981,098 | 167,001 | ||||
First American Financial Corp. | 3,004,990 | 159,024 | ||||
First Financial Bankshares Inc. | 4,012,615 | 157,575 | ||||
Popular Inc. | 2,033,461 | 156,434 | ||||
Glacier Bancorp Inc. | 3,286,875 | 155,864 | ||||
Selective Insurance Group Inc. | 1,783,936 | 155,095 | ||||
Pinnacle Financial Partners Inc. | 2,138,067 | 154,604 | ||||
Interactive Brokers Group Inc. Class A | 2,757,263 | 151,677 | ||||
RLI Corp. | 1,269,262 | 147,983 | ||||
Kinsale Capital Group Inc. | 640,677 | 147,125 | ||||
Synovus Financial Corp. | 4,061,019 | 146,400 | ||||
Erie Indemnity Co. Class A | 750,517 | 144,242 | ||||
*,1 | Robinhood Markets Inc. Class A | 17,513,698 | 143,963 | |||
Wintrust Financial Corp. | 1,774,980 | 142,265 | ||||
United Bankshares Inc. | 3,990,904 | 139,961 |
Shares | Market Value• ($000) | |||||
Hanover Insurance Group Inc. | 942,960 | 137,908 | ||||
Primerica Inc. | 1,147,099 | 137,296 | ||||
Jefferies Financial Group Inc. | 4,942,605 | 136,515 | ||||
Cadence Bank | 5,678,275 | 133,326 | ||||
Affiliated Managers Group Inc. | 1,142,679 | 133,236 | ||||
Valley National Bancorp | 12,714,939 | 132,363 | ||||
Blackstone Mortgage Trust Inc. Class A | 4,753,255 | 131,523 | ||||
Axis Capital Holdings Ltd. | 2,265,701 | 129,349 | ||||
Old National Bancorp | 8,650,656 | 127,943 | ||||
New Residential Investment Corp. | 13,720,146 | 127,872 | ||||
SLM Corp. | 7,952,681 | 126,766 | ||||
Bank OZK | 3,361,332 | 126,151 | ||||
OneMain Holdings Inc. | 3,314,741 | 123,905 | ||||
1 | Blue Owl Capital Inc. Class A | 12,308,874 | 123,458 | |||
Home BancShares Inc. | 5,779,764 | 120,046 | ||||
New York Community Bancorp Inc. | 13,085,123 | 119,467 | ||||
Houlihan Lokey Inc. Class A | 1,491,995 | 117,763 | ||||
Essent Group Ltd. | 3,009,241 | 117,059 | ||||
MGIC Investment Corp. | 9,118,999 | 114,899 | ||||
ServisFirst Bancshares Inc. | 1,446,164 | 114,131 | ||||
FNB Corp. | 10,391,415 | 112,851 | ||||
Umpqua Holdings Corp. | 6,397,197 | 107,281 | ||||
Hancock Whitney Corp. | 2,419,933 | 107,276 | ||||
*,1 | SoFi Technologies Inc. | 20,202,667 | 106,468 | |||
First Interstate BancSystem Inc. Class A | 2,756,629 | 105,055 | ||||
Independent Bank Corp. (Massachusetts) | 1,312,939 | 104,287 | ||||
White Mountains Insurance Group Ltd. | 83,641 | 104,228 | ||||
1 | Lazard Ltd. Class A | 3,159,022 | 102,384 | |||
Community Bank System Inc. | 1,607,607 | 101,729 | ||||
Assured Guaranty Ltd. | 1,795,610 | 100,177 | ||||
Radian Group Inc. | 5,091,854 | 100,055 | ||||
UMB Financial Corp. | 1,142,841 | 98,399 |
Shares | Market Value• ($000) | |||||
CVB Financial Corp. | 3,959,272 | 98,230 | ||||
* | Ryan Specialty Holdings Inc. Class A | 2,440,120 | 95,628 | |||
Evercore Inc. Class A | 1,019,429 | 95,429 | ||||
United Community Banks Inc. | 3,143,549 | 94,904 | ||||
Janus Henderson Group plc | 3,956,951 | 93,028 | ||||
FirstCash Holdings Inc. | 1,336,258 | 92,883 | ||||
PacWest Bancorp | 3,460,183 | 92,248 | ||||
*,1 | Credit Acceptance Corp. | 194,090 | 91,884 | |||
Kemper Corp. | 1,898,305 | 90,929 | ||||
* | Brighthouse Financial Inc. | 2,206,360 | 90,505 | |||
Walker & Dunlop Inc. | 931,898 | 89,779 | ||||
Eastern Bankshares Inc. | 4,848,081 | 89,496 | ||||
Bank of Hawaii Corp. | 1,194,880 | 88,899 | ||||
First Hawaiian Inc. | 3,782,858 | 85,909 | ||||
BankUnited Inc. | 2,410,434 | 85,739 | ||||
Pacific Premier Bancorp Inc. | 2,837,467 | 82,968 | ||||
Cathay General Bancorp | 2,111,241 | 82,655 | ||||
Federated Hermes Inc. Class B | 2,571,273 | 81,741 | ||||
American Equity Investment Life Holding Co. | 2,204,716 | 80,626 | ||||
* | Texas Capital Bancshares Inc. | 1,499,740 | 78,946 | |||
Ameris Bancorp | 1,950,110 | 78,355 | ||||
Simmons First National Corp. Class A | 3,667,402 | 77,969 | ||||
Associated Banc-Corp | 4,207,464 | 76,828 | ||||
WSFS Financial Corp. | 1,909,445 | 76,550 | ||||
Moelis & Co. Class A | 1,919,118 | 75,517 | ||||
First Bancorp (XNYS) | 5,830,720 | 75,275 | ||||
Independent Bank Group Inc. | 1,063,097 | 72,195 | ||||
* | Mr Cooper Group Inc. | 1,955,642 | 71,850 | |||
Atlantic Union Bankshares Corp. | 2,110,952 | 71,604 | ||||
Virtu Financial Inc. Class A | 2,951,226 | 69,088 | ||||
* | Enstar Group Ltd. | 319,018 | 68,263 | |||
Artisan Partners Asset Management Inc. Class A | 1,892,130 | 67,303 | ||||
Fulton Financial Corp. | 4,619,857 | 66,757 |
Shares | Market Value• ($000) | |||||
Columbia Banking System Inc. | 2,324,733 | 66,604 | ||||
* | Trupanion Inc. | 1,084,891 | 65,376 | |||
International Bancshares Corp. | 1,590,554 | 63,749 | ||||
*,1 | Upstart Holdings Inc. | 1,998,139 | 63,181 | |||
Hamilton Lane Inc. Class A | 935,573 | 62,852 | ||||
CNO Financial Group Inc. | 3,434,669 | 62,133 | ||||
First Merchants Corp. | 1,739,035 | 61,944 | ||||
1 | Chimera Investment Corp. | 6,996,924 | 61,713 | |||
BOK Financial Corp. | 813,990 | 61,521 | ||||
1 | Jackson Financial Inc. Class A | 2,287,275 | 61,185 | |||
Seacoast Banking Corp. of Florida | 1,824,099 | 60,268 | ||||
Arbor Realty Trust Inc. | 4,448,727 | 58,323 | ||||
Washington Federal Inc. | 1,934,340 | 58,069 | ||||
Navient Corp. | 4,138,042 | 57,891 | ||||
Banner Corp. | 1,021,299 | 57,407 | ||||
* | Axos Financial Inc. | 1,600,021 | 57,361 | |||
Piper Sandler Cos. | 498,740 | 56,537 | ||||
WesBanco Inc. | 1,722,490 | 54,620 | ||||
Towne Bank | 2,001,642 | 54,345 | ||||
* | Genworth Financial Inc. Class A | 15,181,346 | 53,590 | |||
Flagstar Bancorp Inc. | 1,508,786 | 53,486 | ||||
First Financial Bancorp | 2,703,315 | 52,444 | ||||
Park National Corp. | 431,254 | 52,290 | ||||
Two Harbors Investment Corp. | 10,322,326 | 51,405 | ||||
BancFirst Corp. | 531,851 | 50,903 | ||||
Sandy Spring Bancorp Inc. | 1,272,435 | 49,714 | ||||
* | Focus Financial Partners Inc. Class A | 1,452,936 | 49,487 | |||
Stock Yards Bancorp Inc. | 825,508 | 49,382 | ||||
Lakeland Financial Corp. | 720,973 | 47,887 | ||||
Trustmark Corp. | 1,637,695 | 47,804 | ||||
* | Silvergate Capital Corp. Class A | 883,368 | 47,287 | |||
Horace Mann Educators Corp. | 1,225,413 | 47,031 | ||||
Hope Bancorp Inc. | 3,390,821 | 46,929 | ||||
Cohen & Steers Inc. | 723,373 | 45,999 | ||||
PJT Partners Inc. Class A | 652,524 | 45,859 | ||||
Northwest Bancshares Inc. | 3,568,914 | 45,682 |
Shares | Market Value• ($000) | |||||
NBT Bancorp Inc. | 1,213,925 | 45,631 | ||||
Renasant Corp. | 1,581,483 | 45,563 | ||||
Eagle Bancorp Inc. | 955,716 | 45,311 | ||||
* | Palomar Holdings Inc. | 703,565 | 45,310 | |||
Provident Financial Services Inc. | 2,006,445 | 44,663 | ||||
Heartland Financial USA Inc. | 1,071,432 | 44,507 | ||||
Veritex Holdings Inc. | 1,515,284 | 44,337 | ||||
* | Triumph Bancorp Inc. | 703,132 | 43,988 | |||
* | Cannae Holdings Inc. | 2,272,386 | 43,948 | |||
Apollo Commercial Real Estate Finance Inc. | 4,197,357 | 43,820 | ||||
* | NMI Holdings Inc. Class A | 2,539,280 | 42,279 | |||
FB Financial Corp. | 1,057,252 | 41,465 | ||||
TriCo Bancshares | 907,145 | 41,402 | ||||
Westamerica Bancorp | 742,291 | 41,316 | ||||
* | PRA Group Inc. | 1,113,812 | 40,498 | |||
Safety Insurance Group Inc. | 415,622 | 40,357 | ||||
Enterprise Financial Services Corp. | 969,005 | 40,214 | ||||
Stewart Information Services Corp. | 801,965 | 39,898 | ||||
* | BRP Group Inc. Class A | 1,650,884 | 39,869 | |||
* | Encore Capital Group Inc. | 685,552 | 39,604 | |||
StepStone Group Inc. Class A | 1,519,616 | 39,556 | ||||
* | StoneX Group Inc. | 503,390 | 39,300 | |||
1 | Hilltop Holdings Inc. | 1,440,657 | 38,408 | |||
PennyMac Mortgage Investment Trust | 2,766,349 | 38,259 | ||||
Argo Group International Holdings Ltd. | 1,029,437 | 37,945 | ||||
ProAssurance Corp. | 1,594,213 | 37,671 | ||||
1 | Compass Diversified Holdings | 1,757,592 | 37,648 | |||
First Bancorp (XNGS) | 1,068,690 | 37,297 | ||||
OFG Bancorp | 1,443,659 | 36,669 | ||||
Ladder Capital Corp. | 3,460,731 | 36,476 | ||||
Mercury General Corp. | 822,088 | 36,419 | ||||
Virtus Investment Partners Inc. | 209,868 | 35,892 | ||||
First Commonwealth Financial Corp. | 2,669,887 | 35,830 | ||||
First Busey Corp. | 1,560,247 | 35,652 | ||||
Capitol Federal Financial Inc. | 3,867,787 | 35,506 | ||||
* | LendingClub Corp. | 2,998,954 | 35,058 |
Shares | Market Value• ($000) | |||||
PennyMac Financial Services Inc. | 797,464 | 34,857 | ||||
Ready Capital Corp. | 2,849,337 | 33,964 | ||||
Southside Bancshares Inc. | 897,515 | 33,585 | ||||
City Holding Co. | 420,415 | 33,583 | ||||
1 | Franklin BSP Realty Trust Inc. | 2,460,530 | 33,168 | |||
MFA Financial Inc. | 3,041,407 | 32,695 | ||||
Live Oak Bancshares Inc. | 964,117 | 32,674 | ||||
BGC Partners Inc. Class A | 9,692,523 | 32,664 | ||||
Employers Holdings Inc. | 778,955 | 32,630 | ||||
National Bank Holdings Corp. Class A | 852,175 | 32,613 | ||||
* | Open Lending Corp. Class A | 3,151,327 | 32,238 | |||
Meta Financial Group Inc. | 822,428 | 31,803 | ||||
iStar Inc. | 2,310,937 | 31,683 | ||||
OceanFirst Financial Corp. | 1,641,300 | 31,398 | ||||
Berkshire Hills Bancorp Inc. | 1,262,521 | 31,273 | ||||
New York Mortgage Trust Inc. | 11,305,464 | 31,203 | ||||
* | Customers Bancorp Inc. | 918,369 | 31,133 | |||
S&T Bancorp Inc. | 1,115,948 | 30,610 | ||||
AMERISAFE Inc. | 570,152 | 29,654 | ||||
First Foundation Inc. | 1,441,723 | 29,527 | ||||
Dime Community Bancshares Inc. | 976,198 | 28,944 | ||||
Brookline Bancorp Inc. | 2,141,840 | 28,508 | ||||
Preferred Bank | 409,833 | 27,877 | ||||
* | Bancorp Inc. | 1,414,509 | 27,611 | |||
TPG Inc. Class A | 1,142,814 | 27,325 | ||||
1 | Redwood Trust Inc. | 3,537,786 | 27,276 | |||
Banc of California Inc. | 1,542,166 | 27,173 | ||||
German American Bancorp Inc. | 791,561 | 27,056 | ||||
QCR Holdings Inc. | 500,631 | 27,029 | ||||
Lakeland Bancorp Inc. | 1,826,573 | 26,705 | ||||
Premier Financial Corp. | 1,041,700 | 26,407 | ||||
* | Enova International Inc. | 911,247 | 26,262 | |||
Heritage Financial Corp. | 1,036,767 | 26,085 | ||||
James River Group Holdings Ltd. | 1,051,256 | 26,050 | ||||
Broadmark Realty Capital Inc. | 3,792,954 | 25,451 |
Shares | Market Value• ($000) | |||||
* | MoneyGram International Inc. | 2,544,718 | 25,447 | |||
KKR Real Estate Finance Trust Inc. | 1,450,623 | 25,313 | ||||
Tompkins Financial Corp. | 350,250 | 25,253 | ||||
Origin Bancorp Inc. | 650,130 | 25,225 | ||||
ConnectOne Bancorp Inc. | 1,020,351 | 24,948 | ||||
Goosehead Insurance Inc. Class A | 545,944 | 24,933 | ||||
* | Columbia Financial Inc. | 1,139,064 | 24,843 | |||
* | Blucora Inc. | 1,333,954 | 24,625 | |||
United Fire Group Inc. | 714,294 | 24,450 | ||||
1 | Rocket Cos. Inc. Class A | 3,316,945 | 24,413 | |||
Nelnet Inc. Class A | 285,793 | 24,364 | ||||
1 | Claros Mortgage Trust Inc. | 1,434,200 | 24,023 | |||
* | Nicolet Bankshares Inc. | 331,427 | 23,975 | |||
Amerant Bancorp Inc. Class A | 846,216 | 23,796 | ||||
Ellington Financial Inc. | 1,572,980 | 23,076 | ||||
Washington Trust Bancorp Inc. | 473,811 | 22,918 | ||||
Federal Agricultural Mortgage Corp. Class C | 233,024 | 22,755 | ||||
TFS Financial Corp. | 1,605,671 | 22,046 | ||||
Allegiance Bancshares Inc. | 580,123 | 21,905 | ||||
1 | ARMOUR Residential REIT Inc. | 3,081,000 | 21,690 | |||
*,1 | Lemonade Inc. | 1,183,492 | 21,611 | |||
* | Metropolitan Bank Holding Corp. | 310,975 | 21,588 | |||
Univest Financial Corp. | 830,436 | 21,126 | ||||
1 | Enact Holdings Inc. | 966,985 | 20,771 | |||
Kearny Financial Corp. | 1,866,666 | 20,739 | ||||
Peoples Bancorp Inc. | 779,422 | 20,733 | ||||
Hanmi Financial Corp. | 918,817 | 20,618 | ||||
B. Riley Financial Inc. | 486,836 | 20,569 | ||||
Victory Capital Holdings Inc. Class A | 804,805 | 19,396 | ||||
HarborOne Bancorp Inc. | 1,368,579 | 18,873 | ||||
Horizon Bancorp Inc. | 1,076,412 | 18,751 |
Shares | Market Value• ($000) | |||||
First Mid Bancshares Inc. | 521,337 | 18,596 | ||||
WisdomTree Investments Inc. | 3,662,568 | 18,569 | ||||
HomeStreet Inc. | 535,243 | 18,557 | ||||
Heritage Commerce Corp. | 1,681,145 | 17,971 | ||||
Great Southern Bancorp Inc. | 302,711 | 17,727 | ||||
Brightsphere Investment Group Inc. | 982,467 | 17,694 | ||||
Community Trust Bancorp Inc. | 436,138 | 17,637 | ||||
Flushing Financial Corp. | 829,044 | 17,625 | ||||
Camden National Corp. | 397,052 | 17,490 | ||||
Cowen Inc. Class A | 736,215 | 17,441 | ||||
Old Second Bancorp Inc. | 1,275,595 | 17,067 | ||||
* | MBIA Inc. | 1,381,672 | 17,064 | |||
TrustCo Bank Corp. | 545,231 | 16,815 | ||||
Northfield Bancorp Inc. | 1,272,874 | 16,586 | ||||
Central Pacific Financial Corp. | 772,162 | 16,563 | ||||
First Bancshares Inc. | 576,125 | 16,477 | ||||
Dynex Capital Inc. | 1,032,144 | 16,432 | ||||
TPG RE Finance Trust Inc. | 1,816,543 | 16,367 | ||||
HCI Group Inc. | 237,701 | 16,107 | ||||
*,1 | Marathon Digital Holdings Inc. | 2,968,256 | 15,850 | |||
Cambridge Bancorp | 187,772 | 15,529 | ||||
*,1 | Oscar Health Inc. Class A | 3,618,343 | 15,378 | |||
Byline Bancorp Inc. | 644,447 | 15,338 | ||||
* | CrossFirst Bankshares Inc. | 1,158,387 | 15,291 | |||
Diamond Hill Investment Group Inc. | 87,521 | 15,197 | ||||
* | Ambac Financial Group Inc. | 1,332,545 | 15,124 | |||
*,1 | Riot Blockchain Inc. | 3,548,257 | 14,867 | |||
1 | Orchid Island Capital Inc. | 5,205,932 | 14,837 | |||
Granite Point Mortgage Trust Inc. | 1,542,525 | 14,762 | ||||
1 | Invesco Mortgage Capital Inc. | 1,001,844 | 14,707 | |||
Midland States Bancorp Inc. | 605,594 | 14,558 | ||||
* | SiriusPoint Ltd. | 2,665,000 | 14,444 | |||
Bank First Corp. | 189,999 | 14,404 | ||||
1 | CBTX Inc. | 539,023 | 14,333 |
Shares | Market Value• ($000) | |||||
*,1 | CBL & Associates Properties Inc. | 606,800 | 14,254 | |||
Peapack-Gladstone Financial Corp. | 477,690 | 14,187 | ||||
* | LendingTree Inc. | 319,452 | 13,998 | |||
* | World Acceptance Corp. | 124,692 | 13,995 | |||
Bank of Marin Bancorp | 426,894 | 13,567 | ||||
Mercantile Bank Corp. | 424,074 | 13,549 | ||||
First Financial Corp. | ��� 303,859 | 13,522 | ||||
Farmers National Banc Corp. | 895,587 | 13,434 | ||||
Business First Bancshares Inc. | 622,921 | 13,274 | ||||
BrightSpire Capital Inc. Class A | 1,758,048 | 13,273 | ||||
First Community Bankshares Inc. | 439,750 | 12,933 | ||||
Equity Bancshares Inc. Class A | 432,117 | 12,601 | ||||
Hingham Institution For Savings | 43,253 | 12,274 | ||||
Republic Bancorp Inc. Class A | 253,793 | 12,246 | ||||
* | AssetMark Financial Holdings Inc. | 640,865 | 12,029 | |||
Arrow Financial Corp. | 372,188 | 11,839 | ||||
Financial Institutions Inc. | 450,573 | 11,724 | ||||
P10 Inc. Class A | 1,053,805 | 11,718 | ||||
* | Coastal Financial Corp. | 303,462 | 11,568 | |||
* | EZCORP Inc. Class A | 1,538,575 | 11,555 | |||
Independent Bank Corp. (Michigan) | 598,641 | 11,542 | ||||
National Western Life Group Inc. Class A | 55,873 | 11,325 | ||||
Metrocity Bankshares Inc. | 554,638 | 11,265 | ||||
Farmers & Merchants Bancorp Inc. | 333,453 | 11,067 | ||||
CNB Financial Corp. | 455,730 | 11,024 | ||||
First of Long Island Corp. | 623,888 | 10,937 | ||||
Bar Harbor Bankshares | 412,183 | 10,659 | ||||
Capital City Bank Group Inc. | 378,412 | 10,554 | ||||
HomeTrust Bancshares Inc. | 417,531 | 10,438 | ||||
1st Source Corp. | 229,330 | 10,412 | ||||
Universal Insurance Holdings Inc. | 798,817 | 10,409 |
Shares | Market Value• ($000) | |||||
American National Bankshares Inc. | 296,822 | 10,273 | ||||
Waterstone Financial Inc. | 600,218 | 10,234 | ||||
* | Blue Foundry Bancorp | 844,405 | 10,124 | |||
Peoples Financial Services Corp. | 179,285 | 10,011 | ||||
Citizens & Northern Corp. | 409,413 | 9,896 | ||||
* | Southern First Bancshares Inc. | 226,710 | 9,882 | |||
Southern Missouri Bancorp Inc. | 217,810 | 9,858 | ||||
Merchants Bancorp | 434,604 | 9,852 | ||||
Mid Penn Bancorp Inc. | 365,174 | 9,849 | ||||
Capstar Financial Holdings Inc. | 501,215 | 9,834 | ||||
SmartFinancial Inc. | 401,450 | 9,699 | ||||
West Bancorp Inc. | 398,357 | 9,696 | ||||
First Internet Bancorp | 263,312 | 9,695 | ||||
Shore Bancshares Inc. | 509,859 | 9,432 | ||||
MVB Financial Corp. | 302,098 | 9,398 | ||||
Primis Financial Corp. | 682,667 | 9,305 | ||||
* | Bridgewater Bancshares Inc. | 573,719 | 9,260 | |||
* | Carter Bankshares Inc. | 688,089 | 9,083 | |||
Alerus Financial Corp. | 380,671 | 9,064 | ||||
RBB Bancorp | 435,114 | 8,994 | ||||
First Bancorp Inc. | 295,916 | 8,916 | ||||
Guaranty Bancshares Inc. | 245,483 | 8,899 | ||||
1 | UWM Holdings Corp. Class A | 2,484,100 | 8,794 | |||
Sierra Bancorp | 393,731 | 8,556 | ||||
MidWestOne Financial Group Inc. | 286,575 | 8,517 | ||||
Civista Bancshares Inc. | 398,946 | 8,482 | ||||
Summit Financial Group Inc. | 304,535 | 8,460 | ||||
Enterprise Bancorp Inc. | 255,668 | 8,230 | ||||
Macatawa Bank Corp. | 924,057 | 8,169 | ||||
*,1 | Hippo Holdings Inc. | 9,247,900 | 8,125 | |||
Amalgamated Financial Corp. | 404,457 | 8,000 | ||||
BayCom Corp. | 386,727 | 7,998 | ||||
Regional Management Corp. | 211,580 | 7,907 | ||||
1 | John Marshall Bancorp Inc. | 346,600 | 7,812 |
Shares | Market Value• ($000) | |||||
Donegal Group Inc. Class A | 455,553 | ��� 7,767 | ||||
1 | Five Star Bancorp | 293,908 | 7,765 | |||
* | Third Coast Bancshares Inc. | 351,900 | 7,707 | |||
PCSB Financial Corp. | 400,428 | 7,644 | ||||
Northeast Bank | 204,444 | 7,468 | ||||
Orrstown Financial Services Inc. | 307,627 | 7,435 | ||||
* | Professional Holding Corp. Class A | 367,867 | 7,376 | |||
* | SWK Holdings Corp. | 422,178 | 7,375 | |||
BCB Bancorp Inc. | 430,285 | 7,328 | ||||
1 | GCM Grosvenor Inc. Class A | 1,068,829 | 7,321 | |||
Northrim Bancorp Inc. | 176,916 | 7,123 | ||||
AFC Gamma Inc. | 464,341 | 7,118 | ||||
Blue Ridge Bankshares Inc. | 462,864 | 7,091 | ||||
South Plains Financial Inc. | 292,506 | 7,061 | ||||
Oppenheimer Holdings Inc. Class A | 213,217 | 7,045 | ||||
First Bank | 503,770 | 7,043 | ||||
ACNB Corp. | 236,741 | 7,029 | ||||
Home Bancorp Inc. | 205,685 | 7,020 | ||||
1 | Colony Bankcorp Inc. | 463,412 | 6,993 | |||
Red River Bancshares Inc. | 127,746 | 6,909 | ||||
Esquire Financial Holdings Inc. | 206,705 | 6,883 | ||||
* | FVCBankcorp Inc. | 360,895 | 6,796 | |||
Provident Bancorp Inc. | 432,492 | 6,790 | ||||
* | eHealth Inc. | 718,465 | 6,703 | |||
Tiptree Inc. Class A | 630,245 | 6,693 | ||||
PCB Bancorp | 355,560 | 6,642 | ||||
Codorus Valley Bancorp Inc. | 285,570 | 6,428 | ||||
* | Oportun Financial Corp. | 776,546 | 6,422 | |||
First Business Financial Services Inc. | 205,340 | 6,405 | ||||
Parke Bancorp Inc. | 290,867 | 6,097 | ||||
* | First Western Financial Inc. | 220,842 | 6,005 | |||
Great Ajax Corp. | 625,287 | 5,997 | ||||
* | Clearwater Analytics Holdings Inc. Class A | 497,034 | 5,984 | |||
Investors Title Co. | 37,598 | 5,899 | ||||
HBT Financial Inc. | 330,067 | 5,898 | ||||
Ames National Corp. | 265,164 | 5,881 |
Shares | Market Value• ($000) | |||||
*,1 | Ponce Financial Group Inc. | 628,749 | 5,810 | |||
Investar Holding Corp. | 262,066 | 5,739 | ||||
FS Bancorp Inc. | 199,645 | 5,732 | ||||
Community Financial Corp. | 155,233 | 5,725 | ||||
Unity Bancorp Inc. | 216,027 | 5,720 | ||||
*,1 | Citizens Inc. Class A | 1,340,088 | 5,615 | |||
* | Ocwen Financial Corp. | 204,363 | 5,600 | |||
Manning & Napier Inc. Class A | 447,715 | 5,583 | ||||
National Bankshares Inc. | 173,594 | 5,451 | ||||
* | Greenlight Capital Re Ltd. Class A | 694,791 | 5,371 | |||
Bankwell Financial Group Inc. | 172,076 | 5,343 | ||||
1 | Capital Bancorp Inc. | 244,721 | 5,310 | |||
1 | Fidelity D&D Bancorp Inc. | 129,702 | 5,279 | |||
Crawford & Co. Class B | 746,601 | 5,264 | ||||
Timberland Bancorp Inc. | 207,724 | 5,193 | ||||
MainStreet Bancshares Inc. | 225,063 | 5,125 | ||||
Meridian Corp. | 167,194 | 5,066 | ||||
Evans Bancorp Inc. | 146,463 | 4,978 | ||||
Norwood Financial Corp. | 198,755 | 4,822 | ||||
William Penn Bancorp | 410,356 | 4,801 | ||||
Northeast Community Bancorp Inc. | 404,845 | 4,765 | ||||
Greene County Bancorp Inc. | 105,184 | 4,764 | ||||
Territorial Bancorp Inc. | 226,146 | 4,715 | ||||
Bank of Princeton | 170,560 | 4,684 | ||||
Richmond Mutual Bancorp Inc. | 333,035 | 4,656 | ||||
Chemung Financial Corp. | 98,140 | 4,613 | ||||
C&F Financial Corp. | 99,227 | 4,561 | ||||
1 | Southern States Bancshares Inc. | 197,192 | 4,435 | |||
Eagle Bancorp Montana Inc. | 222,646 | 4,433 | ||||
OP Bancorp | 422,079 | 4,428 | ||||
Penns Woods Bancorp Inc. | 189,259 | 4,370 | ||||
LCNB Corp. | 291,615 | 4,360 | ||||
* | Republic First Bancorp Inc. | 1,142,193 | 4,352 |
Shares | Market Value• ($000) | |||||
Central Valley Community Bancorp | 300,097 | 4,351 | ||||
Nexpoint Real Estate Finance Inc. | 213,897 | 4,336 | ||||
Sachem Capital Corp. | 1,059,367 | 4,322 | ||||
1 | ESSA Bancorp Inc. | 253,876 | 4,265 | |||
Plumas Bancorp | 148,640 | 4,242 | ||||
*,1 | Hagerty Inc. Class A | 363,800 | 4,180 | |||
Medallion Financial Corp. | 650,658 | 4,164 | ||||
AG Mortgage Investment Trust Inc. | 615,108 | 4,152 | ||||
Silvercrest Asset Management Group Inc. Class A | 249,318 | 4,091 | ||||
1 | First Guaranty Bancshares Inc. | 167,977 | 4,084 | |||
1 | Orange County Bancorp Inc. | 107,232 | 4,072 | |||
Sculptor Capital Management Inc. Class A | 486,498 | 4,062 | ||||
Western New England Bancorp Inc. | 541,360 | 4,039 | ||||
*,1 | Sunlight Financial Holdings Inc. | 1,368,600 | 4,037 | |||
1 | Hawthorn Bancshares Inc. | 157,895 | 4,025 | |||
* | Consumer Portfolio Services Inc. | 390,029 | 3,998 | |||
*,1 | Doma Holdings Inc. | 3,869,974 | 3,986 | |||
First Savings Financial Group Inc. | 165,222 | 3,955 | ||||
* | NI Holdings Inc. | 240,510 | 3,952 | |||
FNCB Bancorp Inc. | 493,500 | 3,948 | ||||
Citizens Community Bancorp Inc. | 282,098 | 3,901 | ||||
ChoiceOne Financial Services Inc. | 192,470 | 3,876 | ||||
Luther Burbank Corp. | 295,282 | 3,853 | ||||
1 | Finward Bancorp | 101,400 | 3,801 | |||
* | California Bancorp | 198,314 | 3,770 | |||
* | Pioneer Bancorp Inc. | 382,436 | 3,748 | |||
Peoples Bancorp of North Carolina Inc. | 137,293 | 3,729 | ||||
Riverview Bancorp Inc. | 558,880 | 3,677 | ||||
* | Root Inc. Class A | 3,078,300 | 3,663 | |||
Salisbury Bancorp Inc. | 77,320 | 3,651 | ||||
First Financial Northwest Inc. | 230,131 | 3,576 | ||||
First Community Corp. | 186,158 | 3,569 | ||||
Greenhill & Co. Inc. | 386,465 | 3,563 |
Shares | Market Value• ($000) | |||||
* | Maiden Holdings Ltd. | 1,833,912 | 3,558 | |||
First United Corp. | 188,149 | 3,530 | ||||
*,1 | Bakkt Holdings Inc. | 1,675,400 | 3,518 | |||
Seven Hills Realty Trust | 324,696 | 3,468 | ||||
1 | Cherry Hill Mortgage Investment Corp. | 540,434 | 3,459 | |||
First Northwest Bancorp | 219,290 | 3,421 | ||||
* | Sterling Bancorp Inc. | 588,889 | 3,357 | |||
*,1 | MarketWise Inc. | 929,154 | 3,345 | |||
SB Financial Group Inc. | 192,368 | 3,320 | ||||
* | Trean Insurance Group Inc. | 530,381 | 3,304 | |||
Middlefield Banc Corp. | 129,280 | 3,258 | ||||
Pzena Investment Management Inc. Class A | 493,761 | 3,254 | ||||
Federal Agricultural Mortgage Corp. Class A | 35,555 | 3,235 | ||||
1 | Chicago Atlantic Real Estate Finance Inc. | 213,600 | 3,217 | |||
Curo Group Holdings Corp. | 575,636 | 3,183 | ||||
1 | CB Financial Services Inc. | 137,667 | 3,147 | |||
Oak Valley Bancorp | 182,519 | 3,139 | ||||
* | Arlington Asset Investment Corp. Class A | 964,778 | 3,136 | |||
Westwood Holdings Group Inc. | 222,721 | 3,074 | ||||
HMN Financial Inc. | 132,983 | 3,069 | ||||
First National Corp. | 167,836 | 3,063 | ||||
Ohio Valley Banc Corp. | 101,374 | 3,059 | ||||
Partners Bancorp | 320,406 | 2,895 | ||||
BankFinancial Corp. | 308,169 | 2,894 | ||||
1 | Angel Oak Mortgage Inc. | 216,627 | 2,807 | |||
Guild Holdings Co. Class A | 271,900 | 2,771 | ||||
Summit State Bank | 181,477 | 2,762 | ||||
Prudential Bancorp Inc. | 179,178 | 2,711 | ||||
Limestone Bancorp Inc. | 146,744 | 2,702 | ||||
1 | Ellington Residential Mortgage REIT | 361,184 | 2,698 | |||
United Security Bancshares | 348,691 | 2,657 | ||||
Provident Financial Holdings Inc. | 178,916 | 2,653 |
Shares | Market Value• ($000) | |||||
GAMCO Investors Inc. Class A | 121,387 | 2,537 | ||||
* | Bogota Financial Corp. | 223,811 | 2,509 | |||
Bank7 Corp. | 109,773 | 2,507 | ||||
* | Security National Financial Corp. Class A | 293,859 | 2,486 | |||
* | Velocity Financial Inc. | 225,504 | 2,478 | |||
Randolph Bancorp Inc. | 92,565 | 2,448 | ||||
Citizens Holding Co. | 130,509 | 2,388 | ||||
Landmark Bancorp Inc. | 92,095 | 2,334 | ||||
* | Kingsway Financial Services Inc. | 391,450 | 2,231 | |||
1 | Union Bankshares Inc. | 85,053 | 2,224 | |||
*,1 | BM Technologies Inc. | 352,423 | 2,076 | |||
1 | TC Bancshares Inc. | 151,263 | 2,057 | |||
* | Catalyst Bancorp Inc. | 151,200 | 2,046 | |||
Sound Financial Bancorp Inc. | 53,437 | 2,028 | ||||
*,1 | NSTS Bancorp Inc. | 186,636 | 2,021 | |||
* | ACRES Commercial Realty Corp. | 245,355 | 2,009 | |||
Heritage Insurance Holdings Inc. | 757,606 | 2,000 | ||||
* | Elevate Credit Inc. | 834,643 | 1,970 | |||
*,1 | Romeo Power Inc. | 4,109,562 | 1,844 | |||
1 | Bayfirst Financial Corp. | 95,510 | 1,810 | |||
Associated Capital Group Inc. Class A | 48,920 | 1,753 | ||||
Lument Finance Trust Inc. | 736,731 | 1,753 | ||||
* | Finwise Bancorp | 186,587 | 1,741 | |||
Auburn National Bancorp Inc. | 63,021 | 1,704 | ||||
Western Asset Mortgage Capital Corp. | 1,397,650 | 1,691 | ||||
* | MetroMile Inc. | 1,800,516 | 1,652 | |||
1 | IF Bancorp Inc. | 85,645 | 1,627 | |||
US Global Investors Inc. Class A | 363,058 | 1,590 | ||||
Cullman Bancorp Inc. | 139,542 | 1,578 | ||||
CF Bankshares Inc. | 74,786 | 1,571 | ||||
* | USCB Financial Holdings Inc. | 130,762 | 1,509 | |||
* | Heritage Global Inc. | 983,242 | 1,475 | |||
United Bancshares Inc. | 51,141 | 1,455 | ||||
* | Rhinebeck Bancorp Inc. | 154,020 | 1,446 |
Shares | Market Value• ($000) | |||||
1 | Hennessy Advisors Inc. | 138,296 | 1,444 | |||
Manhattan Bridge Capital Inc. | 253,648 | 1,420 | ||||
AmeriServ Financial Inc. | 351,198 | 1,384 | ||||
* | Great Elm Group Inc. | 643,568 | 1,384 | |||
* | Safeguard Scientifics Inc. | 370,901 | 1,383 | |||
* | Nicholas Financial Inc. | 148,305 | 1,382 | |||
loanDepot Inc. Class A | 959,700 | 1,382 | ||||
* | Patriot National Bancorp Inc. | 101,605 | 1,237 | |||
* | Broadway Financial Corp. | 1,113,701 | 1,181 | |||
*,1 | GoHealth Inc. Class A | 1,812,700 | 1,084 | |||
*,1 | OppFi Inc. | 280,326 | 922 | |||
* | Affinity Bancshares Inc. | 61,760 | 917 | |||
* | FFBW Inc. | 70,764 | 859 | |||
* | Ashford Inc. | 60,865 | 850 | |||
Kingstone Cos. Inc. | 202,353 | 797 | ||||
* | Generations Bancorp NY Inc. | 67,225 | 766 | |||
* | Hallmark Financial Services Inc. | 312,490 | 756 | |||
*,1 | Finance of America Cos. Inc. Class A | 441,495 | 693 | |||
Lake Shore Bancorp Inc. | 49,379 | 691 | ||||
United Insurance Holdings Corp. | 437,240 | 682 | ||||
*,1 | Midwest Holding Inc. | 54,219 | 651 | |||
*,1 | Carver Bancorp Inc. | 112,506 | 648 | |||
Mid-Southern Bancorp Inc. | 33,699 | 471 | ||||
* | Oxbridge Re Holdings Ltd. | 132,133 | 441 | |||
* | Biorestorative Therapies Inc. | 121,046 | 361 | |||
Kentucky First Federal Bancorp | 44,526 | 355 | ||||
1895 Bancorp of Wisconsin Inc. | 31,035 | 318 | ||||
*,1 | Reliance Global Group Inc. | 149,985 | 313 | |||
Oconee Federal Financial Corp. | 13,431 | 297 | ||||
* | PB Bankshares Inc. | 22,518 | 296 | |||
Village Bank & Trust Financial Corp. | 5,510 | 257 | ||||
*,1 | Blackboxstocks Inc. | 139,866 | 207 | |||
First Capital Inc. | 7,533 | 204 | ||||
* | OptimumBank Holdings Inc. | 48,881 | 196 |
Shares | Market Value• ($000) | |||||
*,1,2 | Palisade Bio Inc. CVR | 204,224 | 196 | |||
* | First Seacoast Bancorp | 18,095 | 193 | |||
* | NeuroOne Medical Technologies Corp. | 231,480 | 190 | |||
* | LM Funding America Inc. | 226,285 | 184 | |||
* | Impac Mortgage Holdings Inc. | 244,016 | 142 | |||
* | Texas Community Bancshares Inc. | 7,372 | 121 | |||
Atlantic American Corp. | 36,081 | 96 | ||||
* | FG Financial Group Inc. | 34,257 | 50 | |||
Cincinnati Bancorp Inc. | 3,324 | 49 | ||||
* | Siebert Financial Corp. | 22,140 | 34 | |||
* | Vericity Inc. | 1,936 | 14 | |||
* | CFSB Bancorp Inc. | 536 | 5 | |||
*,1,2 | Cogent Biosciences Inc. CVR | 400,874 | — | |||
123,414,533 | ||||||
Health Care (14.2%) | ||||||
UnitedHealth Group Inc. | 27,661,599 | 14,207,827 | ||||
Johnson & Johnson | 77,587,134 | 13,772,492 | ||||
Pfizer Inc. | 165,450,615 | 8,674,576 | ||||
Eli Lilly & Co. | 25,215,442 | 8,175,603 | ||||
AbbVie Inc. | 52,102,462 | 7,980,013 | ||||
Merck & Co. Inc. | 74,561,132 | 6,797,738 | ||||
Thermo Fisher Scientific Inc. | 11,541,426 | 6,270,226 | ||||
Abbott Laboratories | 51,622,863 | 5,608,824 | ||||
Danaher Corp. | 19,291,375 | 4,890,749 | ||||
Bristol-Myers Squibb Co. | 62,767,327 | 4,833,084 | ||||
Amgen Inc. | 15,747,839 | 3,831,449 | ||||
Medtronic plc | 39,552,065 | 3,549,798 | ||||
Elevance Health Inc. | 7,108,553 | 3,430,445 | ||||
Cigna Corp. | 9,356,323 | 2,465,578 | ||||
Gilead Sciences Inc. | 36,977,238 | 2,285,563 | ||||
Zoetis Inc. | 12,491,900 | 2,147,233 | ||||
* | Vertex Pharmaceuticals Inc. | 7,540,462 | 2,124,827 | |||
* | Intuitive Surgical Inc. | 10,585,160 | 2,124,547 | |||
Becton Dickinson & Co. | 8,404,638 | 2,071,995 | ||||
Stryker Corp. | 10,033,715 | 1,996,007 | ||||
* | Regeneron Pharmaceuticals Inc. | 3,025,654 | 1,788,555 | |||
Humana Inc. | 3,730,057 | 1,745,928 | ||||
* | Edwards Lifesciences Corp. | 18,332,739 | 1,743,260 |
Shares | Market Value• ($000) | |||||
* | Boston Scientific Corp. | 42,147,555 | 1,570,839 | |||
* | Centene Corp. | 17,251,995 | 1,459,691 | |||
* | Moderna Inc. | 9,969,380 | 1,424,126 | |||
* | IQVIA Holdings Inc. | 5,580,091 | 1,210,824 | |||
HCA Healthcare Inc. | 6,535,533 | 1,098,362 | ||||
Agilent Technologies Inc. | 8,814,202 | 1,046,863 | ||||
Baxter International Inc. | 14,845,328 | 953,515 | ||||
ResMed Inc. | 4,314,905 | 904,534 | ||||
* | Biogen Inc. | 4,319,668 | 880,953 | |||
* | IDEXX Laboratories Inc. | 2,477,084 | 868,788 | |||
* | Dexcom Inc. | 11,578,010 | 862,909 | |||
* | Illumina Inc. | 4,632,272 | 854,006 | |||
* | Veeva Systems Inc. Class A | 4,125,268 | 816,968 | |||
* | Seagen Inc. | 4,072,984 | 720,674 | |||
West Pharmaceutical Services Inc. | 2,184,481 | 660,522 | ||||
Zimmer Biomet Holdings Inc. | 6,179,952 | 649,266 | ||||
Laboratory Corp. of America Holdings | 2,747,873 | 643,992 | ||||
STERIS plc | 2,953,805 | 608,927 | ||||
* | Avantor Inc. | 17,868,769 | 555,719 | |||
* | Align Technology Inc. | 2,324,546 | 550,150 | |||
* | Horizon Therapeutics plc | 6,780,935 | 540,847 | |||
* | Catalent Inc. | 5,024,242 | 539,051 | |||
1 | PerkinElmer Inc. | 3,720,993 | 529,200 | |||
* | Alnylam Pharmaceuticals Inc. | 3,565,094 | 519,969 | |||
* | Hologic Inc. | 7,347,931 | 509,212 | |||
* | Molina Healthcare Inc. | 1,731,543 | 484,157 | |||
Quest Diagnostics Inc. | 3,461,072 | 460,253 | ||||
Cooper Cos. Inc. | 1,453,267 | 455,047 | ||||
* | BioMarin Pharmaceutical Inc. | 5,450,933 | 451,719 | |||
* | Insulet Corp. | 2,043,076 | 445,268 | |||
Royalty Pharma plc Class A | 10,278,817 | 432,121 | ||||
* | Incyte Corp. | 5,545,907 | 421,323 | |||
Cardinal Health Inc. | 8,036,473 | 420,066 | ||||
Bio-Techne Corp. | 1,156,692 | 400,956 | ||||
Viatris Inc. | 35,742,586 | 374,225 | ||||
Teleflex Inc. | 1,382,320 | 339,843 | ||||
* | Charles River Laboratories International Inc. | 1,497,390 | 320,397 | |||
* | ABIOMED Inc. | 1,275,839 | 315,783 | |||
* | United Therapeutics Corp. | 1,336,207 | 314,864 | |||
* | Henry Schein Inc. | 4,068,109 | 312,187 |
Shares | Market Value• ($000) | |||||
* | Bio-Rad Laboratories Inc. Class A | 623,960 | 308,860 | |||
* | Neurocrine Biosciences Inc. | 2,820,626 | 274,955 | |||
* | Jazz Pharmaceuticals plc | 1,745,037 | 272,243 | |||
* | Repligen Corp. | 1,634,437 | 265,433 | |||
* | Elanco Animal Health Inc. | 13,304,638 | 261,170 | |||
Organon & Co. | 7,476,631 | 252,336 | ||||
DENTSPLY SIRONA Inc. | 6,341,901 | 226,596 | ||||
* | Syneos Health Inc. | 3,029,551 | 217,158 | |||
Chemed Corp. | 442,237 | 207,582 | ||||
* | Exact Sciences Corp. | 5,200,880 | 204,863 | |||
* | Exelixis Inc. | 9,435,071 | 196,438 | |||
Bruker Corp. | 3,086,930 | 193,736 | ||||
* | Masimo Corp. | 1,471,238 | 192,247 | |||
* | Shockwave Medical Inc. | 1,004,062 | 191,947 | |||
Universal Health Services Inc. Class B | 1,877,389 | 189,072 | ||||
* | Envista Holdings Corp. | 4,801,754 | 185,060 | |||
* | Sarepta Therapeutics Inc. | 2,457,274 | 184,197 | |||
* | Novocure Ltd. | 2,623,025 | 182,300 | |||
* | Acadia Healthcare Co. Inc. | 2,672,223 | 180,722 | |||
* | Halozyme Therapeutics Inc. | 4,067,364 | 178,964 | |||
* | Tenet Healthcare Corp. | 3,182,005 | 167,246 | |||
Encompass Health Corp. | 2,946,213 | 165,135 | ||||
Perrigo Co. plc | 3,971,496 | 161,124 | ||||
* | HealthEquity Inc. | 2,492,751 | 153,030 | |||
* | Inspire Medical Systems Inc. | 811,909 | 148,311 | |||
* | Omnicell Inc. | 1,301,937 | 148,095 | |||
* | Alkermes plc | 4,814,166 | 143,414 | |||
* | Intra-Cellular Therapies Inc. | 2,498,723 | 142,627 | |||
* | Teladoc Health Inc. | 4,278,946 | 142,104 | |||
* | LHC Group Inc. | 867,993 | 135,181 | |||
* | QuidelOrtho Corp. | 1,379,465 | 134,056 | |||
* | DaVita Inc. | 1,671,542 | 133,656 | |||
* | Globus Medical Inc. Class A | 2,342,350 | 131,500 | |||
* | agilon health Inc. | 6,021,041 | 131,439 | |||
* | Penumbra Inc. | 1,055,330 | 131,410 | |||
* | Ionis Pharmaceuticals Inc. | 3,544,794 | 131,228 | |||
* | Lantheus Holdings Inc. | 1,918,792 | 126,698 |
Shares | Market Value• ($000) | |||||
* | Apellis Pharmaceuticals Inc. | 2,665,085 | 120,515 | |||
* | Medpace Holdings Inc. | 792,478 | 118,610 | |||
*,1 | Novavax Inc. | 2,299,481 | 118,262 | |||
Premier Inc. Class A | 3,308,349 | 118,042 | ||||
* | Option Care Health Inc. | 4,243,477 | 117,926 | |||
* | Ultragenyx Pharmaceutical Inc. | 1,960,464 | 116,961 | |||
* | Guardant Health Inc. | 2,849,658 | 114,955 | |||
Ensign Group Inc. | 1,560,585 | 114,656 | ||||
* | 10X Genomics Inc. Class A | 2,495,705 | 112,931 | |||
* | Integra LifeSciences Holdings Corp. | 2,082,949 | 112,542 | |||
* | Tandem Diabetes Care Inc. | 1,888,883 | 111,803 | |||
* | ICU Medical Inc. | 668,162 | 109,839 | |||
* | Arrowhead Pharmaceuticals Inc. | 2,958,021 | 104,152 | |||
* | Intellia Therapeutics Inc. | 2,009,474 | 104,010 | |||
* | Amedisys Inc. | 957,948 | 100,699 | |||
* | STAAR Surgical Co. | 1,413,287 | 100,244 | |||
* | Mirati Therapeutics Inc. | 1,472,008 | 98,816 | |||
* | Haemonetics Corp. | 1,511,245 | 98,503 | |||
* | Cytokinetics Inc. | 2,395,650 | 94,125 | |||
* | Turning Point Therapeutics Inc. | 1,242,248 | 93,479 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 3,289,480 | 93,454 | |||
* | Merit Medical Systems Inc. | 1,679,254 | 91,133 | |||
* | Natera Inc. | 2,559,547 | 90,710 | |||
* | iRhythm Technologies Inc. | 832,896 | 89,978 | |||
* | Blueprint Medicines Corp. | 1,769,003 | 89,352 | |||
* | Amicus Therapeutics Inc. | 8,264,428 | 88,760 | |||
* | Prestige Consumer Healthcare Inc. | 1,484,561 | 87,292 | |||
* | R1 RCM Inc. | 4,138,270 | 86,738 | |||
*,1 | Doximity Inc. Class A | 2,476,947 | 86,247 | |||
* | Inari Medical Inc. | 1,250,993 | 85,055 | |||
* | PTC Therapeutics Inc. | 2,110,295 | 84,538 | |||
* | Karuna Therapeutics Inc. | 664,410 | 84,054 | |||
CONMED Corp. | 871,875 | 83,491 | ||||
Patterson Cos. Inc. | 2,593,796 | 78,592 | ||||
*,1 | Neogen Corp. | 3,181,742 | 76,648 | |||
* | NuVasive Inc. | 1,542,846 | 75,846 | |||
* | Denali Therapeutics Inc. | 2,556,091 | 75,226 |
Shares | Market Value• ($000) | |||||
* | Evolent Health Inc. Class A | 2,445,039 | 75,087 | |||
* | Enovis Corp. | 1,355,588 | 74,557 | |||
* | Pacira BioSciences Inc. | 1,270,906 | 74,094 | |||
Select Medical Holdings Corp. | 3,083,620 | 72,835 | ||||
* | Certara Inc. | 3,301,027 | 70,840 | |||
* | Integer Holdings Corp. | 985,536 | 69,638 | |||
* | Insmed Inc. | 3,528,855 | 69,589 | |||
*,1 | Ginkgo Bioworks Holdings Inc. | 28,954,936 | 68,913 | |||
Owens & Minor Inc. | 2,141,030 | 67,335 | ||||
* | Axonics Inc. | 1,178,104 | 66,763 | |||
*,1 | Beam Therapeutics Inc. | 1,656,931 | 64,140 | |||
*,1 | Global Blood Therapeutics Inc. | 1,914,910 | 61,181 | |||
* | Fate Therapeutics Inc. | 2,448,022 | 60,662 | |||
* | Glaukos Corp. | 1,333,374 | 60,562 | |||
* | Corcept Therapeutics Inc. | 2,517,483 | 59,866 | |||
* | Progyny Inc. | 2,037,940 | 59,202 | |||
* | BioCryst Pharmaceuticals Inc. | 5,466,494 | 57,835 | |||
* | Sotera Health Co. | 2,930,476 | 57,408 | |||
*,1 | Multiplan Corp. | 10,414,716 | 57,177 | |||
* | Vir Biotechnology Inc. | 2,143,958 | 54,607 | |||
* | Pediatrix Medical Group Inc. | 2,594,588 | 54,512 | |||
* | AtriCure Inc. | 1,297,608 | 53,020 | |||
* | Arvinas Inc. | 1,256,593 | 52,890 | |||
* | Oak Street Health Inc. | 3,203,198 | 52,661 | |||
* | Twist Bioscience Corp. | 1,494,250 | 52,239 | |||
* | ACADIA Pharmaceuticals Inc. | 3,571,294 | 50,320 | |||
* | Xencor Inc. | 1,762,529 | 48,240 | |||
* | Sage Therapeutics Inc. | 1,476,428 | 47,689 | |||
* | ChemoCentryx Inc. | 1,884,650 | 46,702 | |||
* | Iovance Biotherapeutics Inc. | 4,157,971 | 45,904 | |||
* | Nevro Corp. | 1,038,275 | 45,508 | |||
*,1 | Travere Therapeutics Inc. | 1,872,945 | 45,381 | |||
* | Apollo Medical Holdings Inc. | 1,152,978 | 44,493 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 3,849,446 | 44,384 | |||
* | Dynavax Technologies Corp. | 3,523,643 | 44,363 | |||
* | Supernus Pharmaceuticals Inc. | 1,508,232 | 43,618 |
Shares | Market Value• ($000) | |||||
* | Embecta Corp. | 1,697,119 | 42,971 | |||
* | Harmony Biosciences Holdings Inc. | 868,228 | 42,343 | |||
* | Veracyte Inc. | 2,125,758 | 42,303 | |||
* | CorVel Corp. | 286,459 | 42,187 | |||
* | Ligand Pharmaceuticals Inc. | 471,068 | 42,029 | |||
* | Privia Health Group Inc. | 1,437,057 | 41,847 | |||
US Physical Therapy Inc. | 379,789 | 41,473 | ||||
* | Emergent BioSolutions Inc. | 1,333,782 | 41,401 | |||
* | Myriad Genetics Inc. | 2,253,680 | 40,949 | |||
* | Cerevel Therapeutics Holdings Inc. | 1,535,610 | 40,602 | |||
* | Zentalis Pharmaceuticals Inc. | 1,438,841 | 40,431 | |||
* | 1Life Healthcare Inc. | 5,137,332 | 40,277 | |||
* | Krystal Biotech Inc. | 601,831 | 39,516 | |||
* | Meridian Bioscience Inc. | 1,297,385 | 39,466 | |||
* | Addus HomeCare Corp. | 472,066 | 39,314 | |||
* | Avanos Medical Inc. | 1,391,395 | 38,041 | |||
* | Amphastar Pharmaceuticals Inc. | 1,091,904 | 37,987 | |||
Healthcare Services Group Inc. | 2,174,885 | 37,865 | ||||
* | Arcus Biosciences Inc. | 1,480,054 | 37,505 | |||
* | Celldex Therapeutics Inc. | 1,391,112 | 37,504 | |||
* | Relay Therapeutics Inc. | 2,235,323 | 37,442 | |||
* | Phreesia Inc. | 1,458,839 | 36,486 | |||
* | Agios Pharmaceuticals Inc. | 1,632,717 | 36,197 | |||
* | AdaptHealth Corp. Class A | 1,981,082 | 35,739 | |||
* | Silk Road Medical Inc. | 981,327 | 35,710 | |||
* | Surgery Partners Inc. | 1,201,278 | 34,741 | |||
* | Vericel Corp. | 1,377,226 | 34,679 | |||
* | OPKO Health Inc. | 13,603,337 | 34,416 | |||
* | Kura Oncology Inc. | 1,864,148 | 34,170 | |||
* | REVOLUTION Medicines Inc. | 1,751,776 | 34,142 | |||
* | Natus Medical Inc. | 1,028,193 | 33,694 | |||
* | CareDx Inc. | 1,562,516 | 33,563 | |||
* | IVERIC bio Inc. | 3,450,345 | 33,192 | |||
* | Axsome Therapeutics Inc. | 858,432 | 32,878 | |||
* | Fulgent Genetics Inc. | 579,285 | 31,588 | |||
* | ModivCare Inc. | 373,717 | 31,579 |
Shares | Market Value• ($000) | |||||
*,1 | Cassava Sciences Inc. | 1,118,805 | 31,461 | |||
* | Allogene Therapeutics Inc. | 2,745,421 | 31,298 | |||
* | Adaptive Biotechnologies Corp. | 3,797,523 | 30,722 | |||
* | Syndax Pharmaceuticals Inc. | 1,567,980 | 30,168 | |||
*,1 | PROCEPT BioRobotics Corp. | 909,624 | 29,736 | |||
* | Pacific Biosciences of California Inc. | 6,603,203 | 29,186 | |||
* | ImmunoGen Inc. | 6,455,819 | 29,051 | |||
* | Heska Corp. | 304,394 | 28,768 | |||
* | Revance Therapeutics Inc. | 2,078,757 | 28,728 | |||
*,1 | Signify Health Inc. Class A | 2,074,458 | 28,628 | |||
* | NeoGenomics Inc. | 3,500,254 | 28,527 | |||
National HealthCare Corp. | 407,961 | 28,516 | ||||
* | REGENXBIO Inc. | 1,138,327 | 28,117 | |||
* | Vaxcyte Inc. | 1,284,437 | 27,949 | |||
* | Enanta Pharmaceuticals Inc. | 588,474 | 27,817 | |||
* | Bridgebio Pharma Inc. | 3,057,814 | 27,765 | |||
* | Avid Bioservices Inc. | 1,812,153 | 27,653 | |||
*,1 | Sierra Oncology Inc. | 502,514 | 27,633 | |||
* | Innoviva Inc. | 1,870,204 | 27,604 | |||
* | NextGen Healthcare Inc. | 1,580,808 | 27,569 | |||
* | Madrigal Pharmaceuticals Inc. | 378,298 | 27,079 | |||
*,1 | MannKind Corp. | 7,039,716 | 26,821 | |||
* | Cerus Corp. | 5,067,379 | 26,806 | |||
*,1 | Warby Parker Inc. Class A | 2,379,361 | 26,792 | |||
LeMaitre Vascular Inc. | 586,826 | 26,730 | ||||
* | FibroGen Inc. | 2,464,850 | 26,029 | |||
*,1 | Lyell Immunopharma Inc. | 3,983,110 | 25,970 | |||
* | Chinook Therapeutics Inc. | 1,443,297 | 25,243 | |||
* | Crinetics Pharmaceuticals Inc. | 1,351,049 | 25,197 | |||
* | Varex Imaging Corp. | 1,173,064 | 25,092 | |||
Atrion Corp. | 39,874 | 25,075 | ||||
* | Alignment Healthcare Inc. | 2,190,465 | 24,993 | |||
* | TransMedics Group Inc. | 782,268 | 24,602 | |||
* | Aclaris Therapeutics Inc. | 1,762,139 | 24,599 | |||
* | Prometheus Biosciences Inc. | 859,803 | 24,272 |
Shares | Market Value• ($000) | |||||
* | RadNet Inc. | 1,400,910 | 24,208 | |||
* | Reata Pharmaceuticals Inc. Class A | 787,842 | 23,943 | |||
* | American Well Corp. Class A | 5,533,256 | 23,904 | |||
* | Editas Medicine Inc. | 2,008,676 | 23,763 | |||
* | Brookdale Senior Living Inc. | 5,221,341 | 23,705 | |||
* | Cytek Biosciences Inc. | 2,177,772 | 23,367 | |||
*,1 | Day One Biopharmaceuticals Inc. | 1,269,958 | 22,732 | |||
* | Arcutis Biotherapeutics Inc. | 1,057,909 | 22,544 | |||
*,1 | Anavex Life Sciences Corp. | 2,208,051 | 22,103 | |||
* | Health Catalyst Inc. | 1,519,093 | 22,012 | |||
*,1 | Sorrento Therapeutics Inc. | 10,897,884 | 21,905 | |||
* | SpringWorks Therapeutics Inc. | 873,526 | 21,506 | |||
*,1 | Clover Health Investments Corp. Class A | 10,044,218 | 21,495 | |||
*,1 | Cano Health Inc. | 4,885,443 | 21,398 | |||
* | Artivion Inc. | 1,122,964 | 21,202 | |||
National Research Corp. | 545,812 | 20,894 | ||||
* | Outset Medical Inc. | 1,398,400 | 20,780 | |||
* | Nektar Therapeutics | 5,458,211 | 20,741 | |||
* | Atara Biotherapeutics Inc. | 2,644,849 | 20,603 | |||
* | AngioDynamics Inc. | 1,059,646 | 20,504 | |||
* | Avidity Biosciences Inc. | 1,400,247 | 20,346 | |||
* | Agiliti Inc. | 974,046 | 19,978 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 2,412,021 | 19,634 | |||
* | Codexis Inc. | 1,819,587 | 19,033 | |||
* | Catalyst Pharmaceuticals Inc. | 2,710,113 | 18,998 | |||
* | Replimune Group Inc. | 1,080,034 | 18,879 | |||
* | Deciphera Pharmaceuticals Inc. | 1,406,706 | 18,498 | |||
* | Rocket Pharmaceuticals Inc. | 1,343,499 | 18,487 | |||
* | Cutera Inc. | 490,713 | 18,402 | |||
* | SomaLogic Inc. | 4,037,666 | 18,250 | |||
*,1 | OrthoPediatrics Corp. | 416,503 | 17,972 | |||
* | NanoString Technologies Inc. | 1,409,303 | 17,898 | |||
* | Vanda Pharmaceuticals Inc. | 1,580,624 | 17,229 | |||
* | Alector Inc. | 1,692,262 | 17,193 |
Shares | Market Value• ($000) | |||||
* | Kymera Therapeutics Inc. | 858,484 | 16,904 | |||
*,1 | Geron Corp. | 10,873,146 | 16,853 | |||
* | Relmada Therapeutics Inc. | 885,498 | 16,816 | |||
* | Cardiovascular Systems Inc. | 1,154,296 | 16,576 | |||
* | Collegium Pharmaceutical Inc. | 933,947 | 16,550 | |||
*,1 | Invitae Corp. | 6,770,166 | 16,519 | |||
*,1 | Sana Biotechnology Inc. | 2,545,521 | 16,368 | |||
*,1 | CTI BioPharma Corp. | 2,724,988 | 16,268 | |||
*,1 | PMV Pharmaceuticals Inc. | 1,137,856 | 16,214 | |||
* | Coherus Biosciences Inc. | 2,231,936 | 16,159 | |||
* | UFP Technologies Inc. | 203,026 | 16,155 | |||
* | TG Therapeutics Inc. | 3,773,314 | 16,037 | |||
* | Gossamer Bio Inc. | 1,898,257 | 15,888 | |||
* | Morphic Holding Inc. | 731,406 | 15,871 | |||
*,1 | DocGo Inc. | 2,218,700 | 15,842 | |||
*,1 | Hims & Hers Health Inc. | 3,490,673 | 15,813 | |||
* | Quanterix Corp. | 969,609 | 15,698 | |||
* | HealthStream Inc. | 721,647 | 15,667 | |||
* | Hanger Inc. | 1,090,339 | 15,614 | |||
* | Y-mAbs Therapeutics Inc. | 1,031,165 | 15,602 | |||
* | Inogen Inc. | 642,417 | 15,534 | |||
*,1 | Cogent Biosciences Inc. | 1,705,281 | 15,382 | |||
* | Atea Pharmaceuticals Inc. | 2,161,700 | 15,348 | |||
* | BioLife Solutions Inc. | 1,108,483 | 15,308 | |||
* | Treace Medical Concepts Inc. | 1,056,080 | 15,144 | |||
* | Nurix Therapeutics Inc. | 1,187,325 | 15,043 | |||
* | iTeos Therapeutics Inc. | 728,057 | 14,998 | |||
* | Ideaya Biosciences Inc. | 1,081,855 | 14,930 | |||
* | Theravance Biopharma Inc. | 1,645,524 | 14,908 | |||
* | Castle Biosciences Inc. | 672,900 | 14,770 | |||
*,1 | Ocugen Inc. | 6,502,105 | 14,760 | |||
*,1 | 23andMe Holding Co. | 5,950,940 | 14,758 | |||
* | 2seventy bio Inc. | 1,108,184 | 14,628 | |||
* | Sangamo Therapeutics Inc. | 3,524,496 | 14,591 | |||
* | Pulmonx Corp. | 982,682 | 14,465 | |||
* | Surmodics Inc. | 388,090 | 14,449 | |||
*,1 | 908 Devices Inc. | 694,030 | 14,290 |
Shares | Market Value• ($000) | |||||
* | Agenus Inc. | 7,342,543 | 14,245 | |||
* | Community Health Systems Inc. | 3,758,555 | 14,095 | |||
* | Eagle Pharmaceuticals Inc. | 314,910 | 13,991 | |||
* | Radius Health Inc. | 1,333,182 | 13,825 | |||
*,1 | RAPT Therapeutics Inc. | 754,217 | 13,764 | |||
* | Altimmune Inc. | 1,170,080 | 13,690 | |||
*,1 | Nuvation Bio Inc. | 4,178,976 | 13,540 | |||
* | NGM Biopharmaceuticals Inc. | 1,050,056 | 13,462 | |||
* | ViewRay Inc. | 5,064,514 | 13,421 | |||
* | PetIQ Inc. Class A | 798,896 | 13,413 | |||
* | Seer Inc. Class A | 1,498,596 | 13,412 | |||
*,1 | Senseonics Holdings Inc. | 12,943,615 | 13,332 | |||
1 | SIGA Technologies Inc. | 1,149,664 | 13,313 | |||
*,1 | Point Biopharma Global Inc. Class A | 1,945,226 | 13,247 | |||
* | OptimizeRx Corp. | 482,016 | 13,202 | |||
*,1 | DICE Therapeutics Inc. | 843,216 | 13,087 | |||
*,1 | Vaxart Inc. | 3,736,520 | 13,078 | |||
* | Computer Programs & Systems Inc. | 407,736 | 13,035 | |||
*,1 | Sharecare Inc. | 8,244,900 | 13,027 | |||
* | Kezar Life Sciences Inc. | 1,570,781 | 12,990 | |||
* | GoodRx Holdings Inc. Class A | 2,191,447 | 12,973 | |||
* | Orthofix Medical Inc. | 546,188 | 12,857 | |||
*,1 | Butterfly Network Inc. | 4,177,854 | 12,826 | |||
* | Evolus Inc. | 1,102,093 | 12,784 | |||
* | Amneal Pharmaceuticals Inc. | 3,989,978 | 12,688 | |||
*,1 | MaxCyte Inc. | 2,648,741 | 12,529 | |||
* | Cara Therapeutics Inc. | 1,354,313 | 12,365 | |||
* | Zimvie Inc. | 766,945 | 12,279 | |||
*,1 | LifeStance Health Group Inc. | 2,202,200 | 12,244 | |||
*,1 | Verve Therapeutics Inc. | 798,389 | 12,199 | |||
*,1 | Bionano Genomics Inc. | 8,817,496 | 12,168 | |||
*,1 | Mirum Pharmaceuticals Inc. | 624,930 | 12,161 | |||
* | Keros Therapeutics Inc. | 434,835 | 12,014 | |||
*,1 | Bright Health Group Inc. | 6,558,800 | 11,937 | |||
* | Accolade Inc. | 1,611,597 | 11,926 | |||
* | Mersana Therapeutics Inc. | 2,573,923 | 11,892 |
Shares | Market Value• ($000) | |||||
*,1 | Esperion Therapeutics Inc. | 1,865,500 | 11,865 | |||
*,1 | Cullinan Oncology Inc. | 922,529 | 11,827 | |||
* | Albireo Pharma Inc. | 593,770 | 11,792 | |||
* | Alphatec Holdings Inc. | 1,800,917 | 11,778 | |||
* | SI-BONE Inc. | 885,948 | 11,695 | |||
*,1 | Inovio Pharmaceuticals Inc. | 6,754,452 | 11,685 | |||
* | ANI Pharmaceuticals Inc. | 389,590 | 11,559 | |||
* | AnaptysBio Inc. | 544,680 | 11,057 | |||
*,1 | Adicet Bio Inc. | 756,118 | 11,039 | |||
Phibro Animal Health Corp. Class A | 574,011 | 10,981 | ||||
* | Aerie Pharmaceuticals Inc. | 1,445,441 | 10,841 | |||
*,1 | Monte Rosa Therapeutics Inc. | 1,107,911 | 10,713 | |||
*,1 | Paragon 28 Inc. | 673,990 | 10,696 | |||
*,1 | ADMA Biologics Inc. | 5,384,321 | 10,661 | |||
* | Arcturus Therapeutics Holdings Inc. | 651,067 | 10,248 | |||
*,1 | Erasca Inc. | 1,829,716 | 10,192 | |||
* | Protagonist Therapeutics Inc. | 1,255,025 | 9,927 | |||
* | Anika Therapeutics Inc. | 438,739 | 9,793 | |||
*,1 | Nkarta Inc. | 793,900 | 9,781 | |||
* | Pennant Group Inc. | 758,088 | 9,711 | |||
*,1 | Intercept Pharmaceuticals Inc. | 692,841 | 9,568 | |||
*,1 | Imago Biosciences Inc. | 693,290 | 9,283 | |||
* | Ocular Therapeutix Inc. | 2,307,462 | 9,276 | |||
*,1 | Tricida Inc. | 952,536 | 9,221 | |||
* | Organogenesis Holdings Inc. Class A | 1,884,061 | 9,194 | |||
* | Inhibrx Inc. | 805,703 | 9,145 | |||
*,1 | ClearPoint Neuro Inc. | 700,605 | 9,143 | |||
*,1 | C4 Therapeutics Inc. | 1,211,593 | 9,135 | |||
*,1 | Karyopharm Therapeutics Inc. | 2,008,895 | 9,060 | |||
*,1 | Viridian Therapeutics Inc. | 781,842 | 9,046 | |||
*,1 | Arbutus Biopharma Corp. | 3,300,543 | 8,944 | |||
*,1 | ImmunityBio Inc. | 2,397,295 | 8,918 | |||
* | Generation Bio Co. | 1,356,025 | 8,896 | |||
* | Arcellx Inc. | 491,720 | 8,890 | |||
* | Bluebird Bio Inc. | 2,117,029 | 8,764 | |||
*,1 | Heron Therapeutics Inc. | 3,096,070 | 8,638 | |||
* | MiMedx Group Inc. | 2,478,082 | 8,599 |
Shares | Market Value• ($000) | |||||
Utah Medical Products Inc. | 96,930 | 8,326 | ||||
* | Kiniksa Pharmaceuticals Ltd. Class A | 844,389 | 8,182 | |||
* | Stoke Therapeutics Inc. | 615,840 | 8,135 | |||
* | Axogen Inc. | 990,595 | 8,113 | |||
*,1 | Kinnate Biopharma Inc. | 637,863 | 8,043 | |||
*,1 | Bioxcel Therapeutics Inc. | 607,409 | 8,018 | |||
*,1 | Nuvalent Inc. Class A | 586,382 | 7,951 | |||
*,1 | Akero Therapeutics Inc. | 828,109 | 7,826 | |||
* | Sight Sciences Inc. | 863,824 | 7,766 | |||
*,1 | Tango Therapeutics Inc. | 1,700,696 | 7,704 | |||
* | Eiger BioPharmaceuticals Inc. | 1,215,424 | 7,657 | |||
*,1 | Caribou Biosciences Inc. | 1,392,175 | 7,559 | |||
* | Berkeley Lights Inc. | 1,519,989 | 7,554 | |||
*,1 | Foghorn Therapeutics Inc. | 550,850 | 7,492 | |||
* | Akoya Biosciences Inc. | 577,915 | 7,426 | |||
*,1 | Clovis Oncology Inc. | 4,080,067 | 7,344 | |||
*,1 | Phathom Pharmaceuticals Inc. | 868,958 | 7,334 | |||
*,1 | Ventyx Biosciences Inc. | 598,984 | 7,326 | |||
*,1 | Entrada Therapeutics Inc. | 600,633 | 7,316 | |||
* | Seres Therapeutics Inc. | 2,122,402 | 7,280 | |||
* | Edgewise Therapeutics Inc. | 910,498 | 7,248 | |||
* | KalVista Pharmaceuticals Inc. | 733,821 | 7,221 | |||
*,1 | Alaunos Therapeutics Inc. | 5,807,002 | 7,201 | |||
*,1 | CinCor Pharma Inc. | 380,124 | 7,162 | |||
* | Epizyme Inc. | 4,856,374 | 7,139 | |||
* | Cymabay Therapeutics Inc. | 2,398,201 | 7,075 | |||
*,1 | Instil Bio Inc. | 1,524,376 | 7,043 | |||
* | Kodiak Sciences Inc. | 918,447 | 7,017 | |||
*,1 | EyePoint Pharmaceuticals Inc. | 890,209 | 7,006 | |||
*,1 | Cue Health Inc. | 2,170,291 | 6,945 | |||
iRadimed Corp. | 204,005 | 6,924 | ||||
*,1 | AVEO Pharmaceuticals Inc. | 1,039,472 | 6,819 | |||
*,1 | Liquidia Corp. | 1,531,173 | 6,676 | |||
* | Forma Therapeutics Holdings Inc. | 960,968 | 6,621 |
Shares | Market Value• ($000) | |||||
*,1 | RxSight Inc. | 468,338 | 6,594 | |||
* | Joint Corp. | 426,404 | 6,528 | |||
*,1 | Amylyx Pharmaceuticals Inc. | 334,925 | 6,451 | |||
* | Viking Therapeutics Inc. | 2,231,261 | 6,448 | |||
*,1 | Zomedica Corp. | 29,069,093 | 6,398 | |||
* | Aldeyra Therapeutics Inc. | 1,600,376 | 6,385 | |||
*,1 | Lineage Cell Therapeutics Inc. | 3,973,146 | 6,278 | |||
*,1 | Rhythm Pharmaceuticals Inc. | 1,511,958 | 6,275 | |||
* | Sutro Biopharma Inc. | 1,190,896 | 6,205 | |||
*,1 | Biomea Fusion Inc. | 515,522 | 6,176 | |||
*,1 | Quantum-Si Inc. | 2,632,911 | 6,108 | |||
* | Verastem Inc. | 5,204,312 | 6,037 | |||
*,1 | Provention Bio Inc. | 1,501,571 | 6,006 | |||
*,1 | Oncology Institute Inc. | 1,187,000 | 6,006 | |||
*,1 | Xeris Biopharma Holdings Inc. | 3,886,246 | 5,985 | |||
*,1 | CareMax Inc. | 1,642,830 | 5,963 | |||
1 | Zynex Inc. | 732,906 | 5,849 | |||
* | OraSure Technologies Inc. | 2,157,546 | 5,847 | |||
*,1 | Co-Diagnostics Inc. | 1,036,562 | 5,815 | |||
* | Design Therapeutics Inc. | 411,201 | 5,757 | |||
*,1 | Pliant Therapeutics Inc. | 718,287 | 5,753 | |||
*,1 | Harrow Health Inc. | 783,528 | 5,704 | |||
* | 4D Molecular Therapeutics Inc. | 808,600 | 5,644 | |||
*,1 | Marinus Pharmaceuticals Inc. | 1,164,657 | 5,637 | |||
* | Vera Therapeutics Inc. Class A | 409,785 | 5,577 | |||
* | Rigel Pharmaceuticals Inc. | 4,929,056 | 5,570 | |||
*,1 | Dyne Therapeutics Inc. | 807,332 | 5,546 | |||
* | Apyx Medical Corp. | 945,007 | 5,538 | |||
*,1 | Celularity Inc. Class A | 1,625,100 | 5,525 | |||
*,1 | VistaGen Therapeutics Inc. | 6,255,056 | 5,504 | |||
*,1 | Aadi Bioscience Inc. | 445,926 | 5,494 | |||
* | SeaSpine Holdings Corp. | 961,674 | 5,433 | |||
*,1 | Voyager Therapeutics Inc. | 907,575 | 5,364 | |||
*,1 | CEL - SCI Corp. | 1,185,498 | 5,335 | |||
*,1 | Adagio Therapeutics Inc. | 1,620,200 | 5,314 | |||
*,1 | Century Therapeutics Inc. | 625,729 | 5,256 |
Shares | Market Value• ($000) | |||||
* | Inotiv Inc. | 545,733 | 5,239 | |||
*,1 | G1 Therapeutics Inc. | 1,058,647 | 5,230 | |||
*,1 | IGM Biosciences Inc. | 286,115 | 5,159 | |||
* | MacroGenics Inc. | 1,747,951 | 5,156 | |||
*,1 | Sesen Bio Inc. | 6,362,488 | 5,156 | |||
*,1 | Accuray Inc. | 2,563,805 | 5,025 | |||
*,1 | Beyond Air Inc. | 749,067 | 5,011 | |||
*,1 | Gritstone bio Inc. | 2,055,190 | 4,974 | |||
*,1 | Tarsus Pharmaceuticals Inc. | 339,949 | 4,963 | |||
*,1 | Sema4 Holdings Corp. | 3,937,054 | 4,961 | |||
* | Savara Inc. | 3,255,385 | 4,948 | |||
* | Viemed Healthcare Inc. | 907,059 | 4,880 | |||
* | Immunovant Inc. | 1,248,873 | 4,871 | |||
* | Concert Pharmaceuticals Inc. | 1,153,883 | 4,858 | |||
*,1 | XOMA Corp. | 216,811 | 4,831 | |||
* | Chimerix Inc. | 2,318,360 | 4,822 | |||
*,1 | Omeros Corp. | 1,752,301 | 4,819 | |||
*,1 | Optinose Inc. | 1,313,189 | 4,806 | |||
*,1 | Humacyte Inc. | 1,480,153 | 4,751 | |||
*,1 | Talkspace Inc. | 2,783,922 | 4,733 | |||
*,1 | DermTech Inc. | 849,123 | 4,704 | |||
* | InfuSystem Holdings Inc. | 481,310 | 4,635 | |||
*,1 | Scholar Rock Holding Corp. | 844,240 | 4,635 | |||
*,1 | Janux Therapeutics Inc. | 374,211 | 4,569 | |||
* | Convey Health Solutions Holdings Inc. | 434,812 | 4,522 | |||
*,1 | Matinas BioPharma Holdings Inc. | 5,707,558 | 4,509 | |||
*,1 | Aerovate Therapeutics Inc. | 284,834 | 4,452 | |||
*,1 | CorMedix Inc. | 1,073,491 | 4,315 | |||
* | Aura Biosciences Inc. | 301,493 | 4,272 | |||
*,1 | Tenaya Therapeutics Inc. | 751,697 | 4,232 | |||
* | Semler Scientific Inc. | 150,000 | 4,227 | |||
*,1 | Spectrum Pharmaceuticals Inc. | 5,348,837 | 4,172 | |||
*,1 | HilleVax Inc. | 381,574 | 4,171 | |||
*,1 | Absci Corp. | 1,251,097 | 4,154 | |||
* | Tactile Systems Technology Inc. | 567,780 | 4,145 | |||
* | Fulcrum Therapeutics Inc. | 842,002 | 4,126 | |||
*,1 | Atossa Therapeutics Inc. | 3,779,376 | 4,120 | |||
* | ORIC Pharmaceuticals Inc. | 912,634 | 4,089 | |||
*,1 | Assertio Holdings Inc. | 1,382,248 | 4,078 |
Shares | Market Value• ($000) | |||||
*,1 | Inozyme Pharma Inc. | 842,985 | 4,021 | |||
*,1 | KemPharm Inc. | 899,394 | 4,011 | |||
* | Ovid therapeutics Inc. | 1,851,578 | 3,981 | |||
*,1 | Vicarious Surgical Inc. | 1,352,238 | 3,976 | |||
*,1 | Lexicon Pharmaceuticals Inc. | 2,121,674 | 3,946 | |||
*,1 | Selecta Biosciences Inc. | 3,006,164 | 3,938 | |||
*,1 | Standard BioTools Inc. | 2,459,896 | 3,936 | |||
* | ALX Oncology Holdings Inc. | 485,900 | 3,931 | |||
* | Olema Pharmaceuticals Inc. | 957,400 | 3,897 | |||
* | Compass Therapeutics Inc. | 1,467,991 | 3,890 | |||
*,1 | Science 37 Holdings Inc. | 1,879,700 | 3,778 | |||
* | Personalis Inc. | 1,090,454 | 3,762 | |||
*,1 | Rallybio Corp. | 495,505 | 3,741 | |||
* | Kronos Bio Inc. | 1,025,067 | 3,731 | |||
*,1 | Impel Pharmaceuticals Inc. | 396,809 | 3,698 | |||
*,1 | Prelude Therapeutics Inc. | 704,828 | 3,679 | |||
* | F-star Therapeutics Inc. | 576,669 | 3,610 | |||
*,1 | Precigen Inc. | 2,686,063 | 3,599 | |||
*,1 | Singular Genomics Systems Inc. | 940,051 | 3,591 | |||
* | Avita Medical Inc. | 755,807 | 3,590 | |||
*,1 | Allakos Inc. | 1,146,584 | 3,589 | |||
* | CytomX Therapeutics Inc. | 1,946,133 | 3,561 | |||
*,1 | Outlook Therapeutics Inc. | 3,489,864 | 3,560 | |||
* | Actinium Pharmaceuticals Inc. | 732,773 | 3,525 | |||
* | Bioventus Inc. Class A | 516,233 | 3,521 | |||
XBiotech Inc. | 622,546 | 3,505 | ||||
* | Harvard Bioscience Inc. | 963,445 | 3,468 | |||
*,1 | Citius Pharmaceuticals Inc. | 3,762,882 | 3,462 | |||
*,1 | Annexon Inc. | 915,149 | 3,450 | |||
* | Talaris Therapeutics Inc. | 764,850 | 3,449 | |||
*,1 | Immuneering Corp. Class A | 614,133 | 3,322 | |||
*,2 | PDL BioPharma Inc. | 2,258,201 | 3,320 | |||
*,1 | Allovir Inc. | 851,259 | 3,320 | |||
*,1 | ContraFect Corp. | 1,071,148 | 3,288 | |||
*,1 | Puma Biotechnology Inc. | 1,141,707 | 3,254 |
Shares | Market Value• ($000) | |||||
*,1 | P3 Health Partners Inc. | 866,984 | 3,225 | |||
* | Apollo Endosurgery Inc. | 876,959 | 3,201 | |||
*,1 | Inmune Bio Inc. | 361,452 | 3,195 | |||
*,1 | Adverum Biotechnologies Inc. | 2,661,554 | 3,194 | |||
* | Alpine Immune Sciences Inc. | 374,429 | 3,186 | |||
*,1 | TFF Pharmaceuticals Inc. | 562,689 | 3,179 | |||
* | Otonomy Inc. | 1,513,558 | 3,148 | |||
* | Passage Bio Inc. | 1,323,044 | 3,122 | |||
* | Silverback Therapeutics Inc. | 729,100 | 3,091 | |||
*,1 | Icosavax Inc. | 535,192 | 3,067 | |||
*,1 | Durect Corp. | 6,409,232 | 3,064 | |||
*,1 | Nautilus Biotechnology Inc. Class A | 1,137,499 | 3,060 | |||
*,1 | ATI Physical Therapy Inc. | 2,163,064 | 3,050 | |||
*,1 | SmileDirectClub Inc. Class A | 2,899,100 | 3,015 | |||
*,1 | Endo International plc | 6,458,450 | 3,008 | |||
*,1 | Humanigen Inc. | 1,692,661 | 2,996 | |||
* | Athira Pharma Inc. | 980,862 | 2,992 | |||
* | Shattuck Labs Inc. | 731,691 | 2,971 | |||
* | Sensus Healthcare Inc. | 385,579 | 2,961 | |||
*,1 | Dare Bioscience Inc. | 2,375,133 | 2,921 | |||
*,1 | Asensus Surgical Inc. | 7,337,446 | 2,921 | |||
* | Aveanna Healthcare Holdings Inc. | 1,284,770 | 2,904 | |||
*,1 | MediciNova Inc. | 1,146,273 | 2,900 | |||
* | Assembly Biosciences Inc. | 1,377,385 | 2,892 | |||
* | Jounce Therapeutics Inc. | 950,782 | 2,881 | |||
* | CytoSorbents Corp. | 1,302,216 | 2,852 | |||
* | Anixa Biosciences Inc. | 927,841 | 2,839 | |||
*,1 | iCAD Inc. | 695,170 | 2,781 | |||
*,1 | Oncocyte Corp. | 3,079,720 | 2,771 | |||
*,1 | Innovage Holding Corp. | 630,750 | 2,763 | |||
* | Rezolute Inc. | 841,974 | 2,720 | |||
*,1 | Biora Therapeutics Inc. | 3,875,866 | 2,713 | |||
* | Taysha Gene Therapies Inc. | 729,014 | 2,712 | |||
*,1 | 89bio Inc. | 841,218 | 2,709 | |||
*,1 | Capricor Therapeutics Inc. | 767,235 | 2,678 | |||
*,1 | Tyra Biosciences Inc. | 372,899 | 2,666 | |||
*,1 | Leap Therapeutics Inc. | 2,289,511 | 2,633 |
Shares | Market Value• ($000) | |||||
* | BrainStorm Cell Therapeutics Inc. | 951,371 | 2,626 | |||
*,1 | PepGen Inc. | 261,706 | 2,599 | |||
* | Praxis Precision Medicines Inc. | 1,056,207 | 2,588 | |||
* | FONAR Corp. | 169,673 | 2,577 | |||
*,1 | Bright Green Corp. | 1,158,400 | 2,572 | |||
*,1 | Paratek Pharmaceuticals Inc. | 1,332,372 | 2,571 | |||
*,1 | PDS Biotechnology Corp. | 700,502 | 2,557 | |||
* | Stereotaxis Inc. | 1,387,817 | 2,554 | |||
*,1 | Akouos Inc. | 538,627 | 2,526 | |||
* | Curis Inc. | 2,561,141 | 2,521 | |||
* | Homology Medicines Inc. | 1,278,035 | 2,518 | |||
* | TCR2 Therapeutics Inc. | 868,012 | 2,517 | |||
*,1 | Cardiff Oncology Inc. | 1,137,935 | 2,503 | |||
* | NextCure Inc. | 530,127 | 2,492 | |||
*,1 | Celcuity Inc. | 273,679 | 2,490 | |||
*,1 | TherapeuticsMD Inc. | 249,657 | 2,484 | |||
* | BioAtla Inc. | 866,299 | 2,469 | |||
* | Finch Therapeutics Group Inc. | 855,860 | 2,431 | |||
* | Cue Biopharma Inc. | 975,866 | 2,430 | |||
*,1 | Vor BioPharma Inc. | 488,541 | 2,428 | |||
*,1 | Rani Therapeutics Holdings Inc. Class A | 234,033 | 2,418 | |||
*,1 | GT Biopharma Inc. | 804,500 | 2,405 | |||
*,1 | Greenwich Lifesciences Inc. | 282,263 | 2,391 | |||
*,1 | Rapid Micro Biosystems Inc. Class A | 552,656 | 2,376 | |||
*,1 | Vaxxinity Inc. Class A | 1,489,274 | 2,338 | |||
*,1 | Acumen Pharmaceuticals Inc. | 491,029 | 2,308 | |||
*,1 | Neuronetics Inc. | 718,657 | 2,307 | |||
*,1 | Ardelyx Inc. | 3,888,128 | 2,294 | |||
* | Poseida Therapeutics Inc. | 888,597 | 2,293 | |||
*,1 | Ikena Oncology Inc. | 517,075 | 2,291 | |||
*,1 | Graphite Bio Inc. | 832,638 | 2,290 | |||
*,1 | Omega Therapeutics Inc. | 602,610 | 2,290 | |||
* | scPharmaceuticals Inc. | 473,934 | 2,284 | |||
*,1 | Seelos Therapeutics Inc. | 3,356,797 | 2,284 | |||
*,1 | MEI Pharma Inc. | 3,716,487 | 2,248 | |||
*,1 | Trevena Inc. | 5,425,457 | 2,246 | |||
*,1 | Theseus Pharmaceuticals Inc. | 405,973 | 2,245 | |||
*,1 | ChromaDex Corp. | 1,336,529 | 2,232 | |||
*,1 | Forian Inc. | 507,760 | 2,229 |
Shares | Market Value• ($000) | |||||
*,1 | Viracta Therapeutics Inc. | 573,758 | 2,226 | |||
*,1 | Precision BioSciences Inc. | 1,383,195 | 2,213 | |||
* | Merrimack Pharmaceuticals Inc. | 369,998 | 2,201 | |||
* | Champions Oncology Inc. | 267,822 | 2,167 | |||
* | Enzo Biochem Inc. | 1,040,908 | 2,155 | |||
*,1 | PAVmed Inc. | 2,295,296 | 2,145 | |||
* | MyMD Pharmaceuticals Inc. | 986,327 | 2,140 | |||
* | KORU Medical Systems Inc. | 842,318 | 2,131 | |||
* | Satsuma Pharmaceuticals Inc. | 511,816 | 2,119 | |||
*,1 | Hookipa Pharma Inc. | 1,292,935 | 2,107 | |||
*,1 | 9 Meters Biopharma Inc. | 8,032,011 | 2,095 | |||
*,1 | SQZ Biotechnologies Co. | 657,886 | 2,092 | |||
*,1 | aTyr Pharma Inc. | 737,935 | 2,088 | |||
* | Surface Oncology Inc. | 1,270,553 | 2,084 | |||
*,1 | Immunic Inc. | 594,425 | 2,063 | |||
*,1 | Adamis Pharmaceuticals Corp. | 4,096,010 | 2,052 | |||
*,1 | Oyster Point Pharma Inc. | 471,778 | 2,043 | |||
*,1 | Checkpoint Therapeutics Inc. | 1,977,366 | 2,037 | |||
* | Decibel Therapeutics Inc. | 483,353 | 2,035 | |||
* | Clearside Biomedical Inc. | 1,383,654 | 2,034 | |||
*,1 | Applied Molecular Transport Inc. | 694,700 | 2,022 | |||
*,1 | iBio Inc. | 7,575,444 | 2,000 | |||
*,1 | Evelo Biosciences Inc. | 927,862 | 1,958 | |||
*,1 | Lyra Therapeutics Inc. | 346,241 | 1,956 | |||
* | Vapotherm Inc. | 762,684 | 1,930 | |||
* | Lipocine Inc. | 2,398,282 | 1,921 | |||
* | CVRx Inc. | 316,346 | 1,901 | |||
*,1 | Pardes Biosciences Inc. Class A | 615,600 | 1,890 | |||
* | Exagen Inc. | 326,266 | 1,873 | |||
*,1 | Frequency Therapeutics Inc. | 1,246,700 | 1,870 | |||
* | Electromed Inc. | 193,554 | 1,866 | |||
*,1 | Akebia Therapeutics Inc. | 5,269,064 | 1,860 | |||
*,1 | Tela Bio Inc. | 261,147 | 1,857 | |||
*,1 | Rain Therapeutics Inc. | 333,919 | 1,857 | |||
* | LENSAR Inc. | 282,930 | 1,842 |
Shares | Market Value• ($000) | |||||
*,1 | Annovis Bio Inc. | 161,007 | 1,826 | |||
*,1 | Dyadic International Inc. | 596,383 | 1,819 | |||
*,1 | Conformis Inc. | 5,130,275 | 1,815 | |||
* | Tabula Rasa HealthCare Inc. | 703,744 | 1,809 | |||
*,1 | NightHawk Biosciences Inc. | 705,534 | 1,799 | |||
*,1 | Athersys Inc. | 6,827,073 | 1,775 | |||
*,1 | PLx Pharma Inc. | 728,870 | 1,771 | |||
*,1 | Fortress Biotech Inc. | 2,099,871 | 1,764 | |||
*,1 | Accelerate Diagnostics Inc. | 1,775,761 | 1,763 | |||
* | Synlogic Inc. | 1,521,748 | 1,750 | |||
*,1 | Palatin Technologies Inc. | 6,167,581 | 1,731 | |||
* | Alpha Teknova Inc. | 200,207 | 1,682 | |||
* | Magenta Therapeutics Inc. | 1,377,271 | 1,653 | |||
* | Pyxis Oncology Inc. | 680,619 | 1,620 | |||
*,1 | Infinity Pharmaceuticals Inc. | 2,515,625 | 1,591 | |||
*,1 | Oncternal Therapeutics Inc. | 1,431,597 | 1,589 | |||
*,1 | Genprex Inc. | 1,127,072 | 1,567 | |||
*,1 | Cyteir Therapeutics Inc. | 523,811 | 1,566 | |||
*,1 | Verrica Pharmaceuticals Inc. | 814,672 | 1,564 | |||
*,1 | Galectin Therapeutics Inc. | 1,189,409 | 1,559 | |||
*,1 | Syros Pharmaceuticals Inc. | 1,617,578 | 1,557 | |||
*,1 | Atreca Inc. Class A | 861,960 | 1,543 | |||
*,1 | La Jolla Pharmaceutical Co. | 478,002 | 1,525 | |||
*,1 | Eton Pharmaceuticals Inc. | 575,285 | 1,507 | |||
*,1 | Retractable Technologies Inc. | 392,689 | 1,504 | |||
* | Catalyst Biosciences Inc. | 826,502 | 1,471 | |||
*,1 | Zynerba Pharmaceuticals Inc. | 1,289,801 | 1,470 | |||
* | Lantern Pharma Inc. | 256,113 | 1,462 | |||
*,1 | Sanara Medtech Inc. | 69,768 | 1,455 | |||
* | Opiant Pharmaceuticals Inc. | 120,263 | 1,442 | |||
* | Lumos Pharma Inc. | 187,322 | 1,442 | |||
*,1 | Sientra Inc. | 1,714,886 | 1,437 | |||
*,1 | Bolt Biotherapeutics Inc. | 697,404 | 1,423 | |||
* | Harpoon Therapeutics Inc. | 744,184 | 1,421 | |||
* | Orgenesis Inc. | 566,688 | 1,371 | |||
* | Movano Inc. | 562,483 | 1,344 |
Shares | Market Value• ($000) | |||||
��� * | Astria Therapeutics Inc. | 445,544 | 1,337 | |||
* | PharmaCyte Biotech Inc. | 590,900 | 1,335 | |||
* | Codiak Biosciences Inc. | 460,648 | 1,327 | |||
*,1 | Milestone Scientific Inc. | 1,447,898 | 1,326 | |||
*,1 | SELLAS Life Sciences Group Inc. | 592,271 | 1,321 | |||
*,1 | SCYNEXIS Inc. | 705,096 | 1,311 | |||
*,1 | Invacare Corp. | 1,023,221 | 1,310 | |||
* | Pro-Dex Inc. | 80,220 | 1,293 | |||
*,1 | Evofem Biosciences Inc. | 1,137,243 | 1,285 | |||
*,1 | Novan Inc. | 545,361 | 1,271 | |||
* | Thorne HealthTech Inc. | 260,095 | 1,259 | |||
*,1 | Oragenics Inc. | 3,556,869 | 1,233 | |||
* | Context Therapeutics Inc. | 573,400 | 1,216 | |||
*,1 | Sensei Biotherapeutics Inc. | 534,441 | 1,213 | |||
* | Eyenovia Inc. | 617,303 | 1,204 | |||
*,1 | Clene Inc. | 473,227 | 1,193 | |||
* | ImmuCell Corp. | 136,425 | 1,186 | |||
*,1 | Hepion Pharmaceuticals Inc. | 2,070,833 | 1,186 | |||
*,1 | Equillium Inc. | 570,835 | 1,164 | |||
*,1 | Cortexyme Inc. | 522,600 | 1,160 | |||
*,1 | Werewolf Therapeutics Inc. | 275,778 | 1,128 | |||
* | Achieve Life Sciences Inc. | 230,562 | 1,125 | |||
* | Eledon Pharmaceuticals Inc. | 459,998 | 1,122 | |||
*,1 | IsoRay Inc. | 3,609,244 | 1,115 | |||
* | Rubius Therapeutics Inc. | 1,298,772 | 1,105 | |||
* | Biomerica Inc. | 374,536 | 1,082 | |||
*,1 | AN2 Therapeutics Inc. | 139,378 | 1,080 | |||
*,1 | Athenex Inc. | 2,588,657 | 1,060 | |||
*,1 | T2 Biosystems Inc. | 6,549,709 | 1,058 | |||
*,1 | Second Sight Medical Products Inc. | 520,091 | 1,056 | |||
Psychemedics Corp. | 165,415 | 1,049 | ||||
*,1 | Applied Genetic Technologies Corp. | 1,340,980 | 1,033 | |||
* | Molecular Templates Inc. | 1,130,895 | 1,031 | |||
* | DiaMedica Therapeutics Inc. | 506,271 | 1,023 | |||
*,1 | AIM ImmunoTech Inc. | 1,311,599 | 1,023 | |||
*,1 | Delcath Systems Inc. | 255,213 | 1,018 |
Shares | Market Value• ($000) | |||||
* | Solid Biosciences Inc. | 1,640,949 | 1,010 | |||
* | Black Diamond Therapeutics Inc. | 392,280 | 965 | |||
* | Armata Pharmaceuticals Inc. | 247,561 | 963 | |||
* | IRIDEX Corp. | 373,047 | 959 | |||
* | UpHealth Inc. | 1,610,354 | 954 | |||
* | Caladrius Biosciences Inc. | 1,775,055 | 941 | |||
* | Cocrystal Pharma Inc. | 2,296,304 | 941 | |||
* | Axcella Health Inc. | 462,695 | 939 | |||
*,1 | Pear Therapeutics Inc. | 609,168 | 938 | |||
*,1 | Aspira Women's Health Inc. | 1,594,611 | 937 | |||
* | Virios Therapeutics Inc. | 220,868 | 934 | |||
* | Avalo Therapeutics Inc. | 1,844,625 | 922 | |||
* | CareCloud Inc. | 266,292 | 912 | |||
*,1,2 | Tobira Therapeutics Inc. CVR Exp. 12/31/28 | 201,001 | 911 | |||
* | Societal CDMO Inc. | 1,130,309 | 899 | |||
*,1 | Ampio Pharmaceuticals Inc. | 5,318,665 | 894 | |||
*,1 | NeuroPace Inc. | 180,700 | 894 | |||
* | Moleculin Biotech Inc. | 616,108 | 893 | |||
* | Cabaletta Bio Inc. | 837,026 | 887 | |||
* | Cidara Therapeutics Inc. | 1,796,543 | 878 | |||
* | AirSculpt Technologies Inc. | 148,100 | 878 | |||
*,1 | Candel Therapeutics Inc. | 269,900 | 874 | |||
* | Ocuphire Pharma Inc. | 451,409 | 867 | |||
*,1 | Synaptogenix Inc. | 171,031 | 865 | |||
* | Lucira Health Inc. | 464,745 | 864 | |||
* | Longboard Pharmaceuticals Inc. | 278,227 | 860 | |||
*,1 | Tonix Pharmaceuticals Holding Corp. | 537,707 | 850 | |||
* | Corvus Pharmaceuticals Inc. | 853,716 | 845 | |||
* | Processa Pharmaceuticals Inc. | 299,657 | 842 | |||
* | Minerva Surgical Inc. | 355,599 | 836 | |||
* | Protara Therapeutics Inc. | 284,301 | 833 | |||
*,1 | Aligos Therapeutics Inc. | 684,900 | 829 | |||
*,1 | enVVeno Medical Corp. | 216,998 | 820 |
Shares | Market Value• ($000) | |||||
*,1 | Vigil Neuroscience Inc. | 316,982 | 818 | |||
* | Biolase Inc. | 175,629 | 804 | |||
*,1 | NeuroMetrix Inc. | 217,846 | 802 | |||
*,1 | Microbot Medical Inc. | 153,549 | 788 | |||
* | Xilio Therapeutics Inc. | 267,195 | 780 | |||
* | Aptinyx Inc. Class A | 1,388,650 | 775 | |||
*,1 | ARCA biopharma Inc. | 311,254 | 775 | |||
*,1 | Enochian Biosciences Inc. | 394,800 | 762 | |||
*,1 | Immunome Inc. | 230,251 | 739 | |||
*,1 | Soligenix Inc. | 1,217,959 | 731 | |||
*,1 | Summit Therapeutics Inc. | 731,303 | 731 | |||
* | Angion Biomedica Corp. | 641,473 | 731 | |||
* | Synthetic Biologics Inc. | 3,308,735 | 706 | |||
* | Precipio Inc. | 662,055 | 702 | |||
*,1 | Longeveron Inc. | 118,115 | 700 | |||
*,1 | Gemini Therapeutics Inc. Class A | 413,417 | 699 | |||
*,1 | PhaseBio Pharmaceuticals Inc. | 1,156,526 | 694 | |||
* | ElectroCore Inc. | 1,341,498 | 684 | |||
*,1 | Sonida Senior Living Inc. | 32,536 | 683 | |||
* | Cyclerion Therapeutics Inc. | 1,241,708 | 681 | |||
* | BioCardia Inc. | 457,496 | 677 | |||
*,1 | Tyme Technologies Inc. | 2,398,710 | 672 | |||
* | Entasis Therapeutics Holdings Inc. | 304,345 | 670 | |||
*,1 | NeuBase Therapeutics Inc. | 638,405 | 670 | |||
* | Aeglea BioTherapeutics Inc. | 1,313,273 | 663 | |||
*,1 | Lucid Diagnostics Inc. | 286,266 | 647 | |||
* | Five Star Senior Living Inc. | 537,058 | 644 | |||
* | Larimar Therapeutics Inc. | 328,248 | 643 | |||
*,1 | 180 Life Sciences Corp. | 751,668 | 637 | |||
* | Mustang Bio Inc. | 1,080,162 | 632 | |||
* | Daxor Corp. | 47,328 | 624 | |||
*,1 | Corbus Pharmaceuticals Holdings Inc. | 2,433,477 | 614 | |||
* | Tracon Pharmaceuticals Inc. | 306,490 | 613 | |||
* | Terns Pharmaceuticals Inc. | 246,704 | 612 |
Shares | Market Value• ($000) | |||||
* | Neoleukin Therapeutics Inc. | 590,859 | 609 | |||
*,1 | Miromatrix Medical Inc. | 152,729 | 609 | |||
* | TScan Therapeutics Inc. | 189,878 | 597 | |||
Indaptus Therapeutics Inc. | 225,897 | 590 | ||||
* | GlycoMimetics Inc. | 977,976 | 585 | |||
*,1 | Cumberland Pharmaceuticals Inc. | 280,820 | 583 | |||
*,1 | Vaccinex Inc. | 534,485 | 577 | |||
*,1 | Pulse Biosciences Inc. | 374,900 | 574 | |||
*,1 | Eliem Therapeutics Inc. | 189,734 | 573 | |||
* | Strata Skin Sciences Inc. | 593,248 | 570 | |||
* | Reneo Pharmaceuticals Inc. | 214,913 | 570 | |||
* | Predictive Oncology Inc. | 1,385,931 | 568 | |||
* | Aptevo Therapeutics Inc. | 158,476 | 567 | |||
*,1 | NanoViricides Inc. | 300,189 | 564 | |||
*,1 | IsoPlexis Corp. | 257,515 | 556 | |||
*,1 | Adial Pharmaceuticals Inc. | 413,497 | 554 | |||
* | Modular Medical Inc. | 106,826 | 553 | |||
*,1 | Sonendo Inc. | 314,928 | 542 | |||
*,1 | eFFECTOR Therapeutics Inc. | 381,429 | 542 | |||
*,1 | Surrozen Inc. | 183,882 | 541 | |||
* | Aquestive Therapeutics Inc. | 841,854 | 539 | |||
*,1 | Jasper Therapeutics Inc. | 274,890 | 531 | |||
*,1 | SAB Biotherapeutics Inc. | 359,620 | 521 | |||
*,1 | Vincerx Pharma Inc. | 391,380 | 517 | |||
*,1 | Regulus Therapeutics Inc. | 249,594 | 517 | |||
*,1 | Aytu BioPharma Inc. | 741,329 | 512 | |||
*,1 | NexImmune Inc. | 315,228 | 508 | |||
* | CASI Pharmaceuticals Inc. | 176,058 | 504 | |||
*,1 | Vivos Therapeutics Inc. | 389,733 | 503 | |||
* | Spero Therapeutics Inc. | 677,888 | 502 | |||
* | Renovacor Inc. | 247,032 | 501 | |||
*,1 | Sio Gene Therapies Inc. | 1,382,708 | 498 | |||
* | Aileron Therapeutics Inc. | 1,898,647 | 494 | |||
*,1 | Novo Integrated Sciences Inc. | 255,940 | 479 | |||
* | Alimera Sciences Inc. | 87,148 | 477 |
Shares | Market Value• ($000) | |||||
* | Bio-Path Holdings Inc. | 121,084 | 469 | |||
*,1 | vTv Therapeutics Inc. Class A | 625,032 | 469 | |||
* | Vyant Bio Inc. | 513,412 | 467 | |||
*,1 | Elevation Oncology Inc. | 332,316 | 465 | |||
*,1 | Jaguar Health Inc. | 1,571,822 | 462 | |||
*,1 | Yumanity Therapeutics Inc. | 253,447 | 461 | |||
* | Avrobio Inc. | 493,752 | 454 | |||
*,1 | Chembio Diagnostics Inc. | 697,965 | 454 | |||
* | Sonnet BioTherapeutics Holdings Inc. | 1,620,560 | 454 | |||
*,1 | AcelRx Pharmaceuticals Inc. | 1,841,806 | 450 | |||
* | Aziyo Biologics Inc. Class A | 62,866 | 444 | |||
* | Minerva Neurosciences Inc. | 133,441 | 442 | |||
* | UNITY Biotechnology Inc. | 764,789 | 431 | |||
* | Marker Therapeutics Inc. | 1,300,503 | 429 | |||
*,1 | Aridis Pharmaceuticals Inc. | 388,959 | 428 | |||
* | Augmedix Inc. | 237,719 | 428 | |||
* | Cryo-Cell International Inc. | 72,236 | 426 | |||
* | Imac Holdings Inc. | 508,049 | 421 | |||
*,1 | OpGen Inc. | 771,353 | 421 | |||
*,1 | NRX Pharmaceuticals Inc. | 696,162 | 418 | |||
* | Xenetic Biosciences Inc. | 519,743 | 416 | |||
* | Virpax Pharmaceuticals Inc. | 247,037 | 415 | |||
*,1 | BioSig Technologies Inc. | 623,506 | 410 | |||
*,1 | Acutus Medical Inc. | 364,325 | 408 | |||
* | Biocept Inc. | 432,578 | 407 | |||
*,1 | Eloxx Pharmaceuticals Inc. | 1,519,165 | 406 | |||
*,1 | VYNE Therapeutics Inc. | 1,044,229 | 406 | |||
*,1 | Oncorus Inc. | 321,132 | 405 | |||
* | Cellectar Biosciences Inc. | 997,049 | 403 | |||
* | Ekso Bionics Holdings Inc. | 243,285 | 401 | |||
* | ABVC BioPharma Inc. | 375,142 | 398 | |||
* | X4 Pharmaceuticals Inc. | 410,213 | 396 | |||
* | Grove Inc. | 93,784 | 394 | |||
* | Forte Biosciences Inc. | 301,270 | 392 |
Shares | Market Value• ($000) | |||||
* | Venus Concept Inc. | 838,817 | 389 | |||
*,1 | Reviva Pharmaceuticals Holdings Inc. | 353,326 | 389 | |||
*,1 | Codex DNA Inc. | 215,522 | 388 | |||
*,1 | Galera Therapeutics Inc. | 296,842 | 386 | |||
* | Graybug Vision Inc. | 352,377 | 384 | |||
*,1 | Brooklyn ImmunoTherapeutics Inc. | 740,159 | 383 | |||
* | Better Therapeutics Inc. | 242,795 | 379 | |||
*,1 | Allena Pharmaceuticals Inc. | 1,972,415 | 377 | |||
* | NantHealth Inc. | 894,094 | 373 | |||
* | Plus Therapeutics Inc. | 688,832 | 372 | |||
*,1 | Clarus Therapeutics Holdings Inc. | 973,548 | 372 | |||
*,1 | Qualigen Therapeutics Inc. | 637,185 | 363 | |||
* | Cyclo Therapeutics Inc. | 176,807 | 354 | |||
* | Inhibikase Therapeutics Inc. | 475,753 | 353 | |||
* | Acer Therapeutics Inc. | 278,634 | 351 | |||
*,1 | Eargo Inc. | 464,500 | 349 | |||
* | Onconova Therapeutics Inc. | 254,696 | 336 | |||
* | Tempest Therapeutics Inc. | 154,654 | 329 | |||
* | Aethlon Medical Inc. | 292,852 | 328 | |||
* | Navidea Biopharmaceuticals Inc. | 450,277 | 324 | |||
* | OncoSec Medical Inc. | 435,534 | 323 | |||
*,1 | Diffusion Pharmaceuticals Inc. | 48,251 | 317 | |||
*,1 | Bellicum Pharmaceuticals Inc. | 265,066 | 313 | |||
*,1 | Trevi Therapeutics Inc. | 108,239 | 304 | |||
* | Myomo Inc. | 180,412 | 303 | |||
* | Surgalign Holdings Inc. | 88,716 | 303 | |||
*,1 | Idera Pharmaceuticals Inc. | 637,169 | 292 | |||
*,1 | Organovo Holdings Inc. | 162,161 | 287 | |||
*,1 | Femasys Inc. | 119,185 | 287 | |||
* | Kintara Therapeutics Inc. | 1,026,487 | 285 | |||
* | Aravive Inc. | 287,237 | 284 | |||
* | Timber Pharmaceuticals Inc. | 902,107 | 284 |
Shares | Market Value• ($000) | |||||
*,1 | Marpai Inc. Class A | 291,607 | 282 | |||
*,1 | cbdMD Inc. | 620,260 | 273 | |||
* | Sera Prognostics Inc. Class A | 162,603 | 267 | |||
* | Cohbar Inc. | 1,381,105 | 262 | |||
* | Talis Biomedical Corp. | 322,290 | 262 | |||
*,1 | Kala Pharmaceuticals Inc. | 858,720 | 258 | |||
* | Bellerophon Therapeutics Inc. | 209,775 | 258 | |||
*,1 | SiNtx Technologies Inc. | 594,838 | 257 | |||
*,2 | Strongbridge Biopharma plc CVR | 1,399,363 | 253 | |||
*,1 | TransCode Therapeutics Inc. | 200,117 | 252 | |||
* | Celsion Corp. | 137,780 | 251 | |||
*,1 | Abeona Therapeutics Inc. | 1,190,090 | 248 | |||
* | AgeX Therapeutics Inc. | 426,190 | 246 | |||
*,1 | Jupiter Wellness Inc. | 334,782 | 243 | |||
* | Cyclacel Pharmaceuticals Inc. | 220,333 | 238 | |||
* | ReShape Lifesciences Inc. | 411,000 | 237 | |||
* | Pulmatrix Inc. | 51,423 | 236 | |||
*,1 | Brickell Biotech Inc. | 1,853,966 | 234 | |||
* | Hoth Therapeutics Inc. | 550,481 | 231 | |||
* | Salarius Pharmaceuticals Inc. | 1,085,219 | 228 | |||
* | Applied Therapeutics Inc. | 238,916 | 227 | |||
* | IMARA Inc. | 185,653 | 226 | |||
* | Soleno Therapeutics Inc. | 1,201,052 | 222 | |||
*,1 | Artelo Biosciences Inc. | 678,172 | 215 | |||
* | NanoVibronix Inc. | 347,433 | 214 | |||
* | TRxADE HEALTH Inc. | 128,731 | 197 | |||
*,1 | NeuroBo Pharmaceuticals Inc. | 409,413 | 193 | |||
* | IN8bio Inc. | 77,511 | 188 | |||
*,1 | Rockwell Medical Inc. | 145,503 | 188 | |||
*,1 | Metacrine Inc. | 368,353 | 184 | |||
* | BioVie Inc. Class A | 126,527 | �� 183 | |||
* | Biofrontera Inc. | 98,114 | 182 | |||
*,2 | Ocera Therapeutics Inc. CVR | 653,477 | 176 | |||
*,1 | Biodesix Inc. | 107,416 | 176 | |||
*,1 | Windtree Therapeutics Inc. | 397,013 | 166 | |||
* | INVO BioScience Inc. | 248,469 | 164 |
Shares | Market Value• ($000) | |||||
*,1 | Aditxt Inc. | 1,132,345 | 162 | |||
*,1 | Ontrak Inc. | 151,444 | 161 | |||
*,1 | Calithera Biosciences Inc. | 64,259 | 158 | |||
*,2 | Adamas Pharmaceuticals Inc. CVR | 2,522,158 | 152 | |||
*,1 | Avinger Inc. | 103,661 | 151 | |||
* | Geron Corp. Warrants Exp. 12/31/25 | 1,202,419 | 150 | |||
* | ENDRA Life Sciences Inc. | 640,847 | 149 | |||
* | Cognition Therapeutics Inc. | 65,944 | 140 | |||
* | HCW Biologics Inc. | 63,577 | 140 | |||
* | GeoVax Labs Inc. | 165,070 | 137 | |||
*,1 | Hyperfine Inc. Class A | 58,393 | 130 | |||
*,1 | Panbela Therapeutics Inc. | 196,590 | 130 | |||
*,1 | Enveric Biosciences Inc. | 563,792 | 121 | |||
* | CNS Pharmaceuticals Inc. | 422,266 | 118 | |||
* | Exicure Inc. | 54,676 | 118 | |||
* | Nephros Inc. | 75,316 | 115 | |||
* | Monopar Therapeutics Inc. | 52,392 | 114 | |||
* | Sigilon Therapeutics Inc. | 126,990 | 105 | |||
* | Aprea Therapeutics Inc. | 141,110 | 104 | |||
*,1 | Phio Pharmaceuticals Corp. | 141,542 | 102 | |||
* | Protagenic Therapeutics Inc. | 121,310 | 87 | |||
*,1 | Nuvectis Pharma Inc. | 7,789 | 87 | |||
* | American Shared Hospital Services | 36,338 | 81 | |||
* | Palisade Bio Inc. | 196,415 | 80 | |||
*,1 | Lannett Co. Inc. | 136,433 | 79 | |||
*,2 | Aduro Biotech Inc. CVR | 415,255 | 76 | |||
*,1 | RA Medical Systems Inc. | 237,195 | 74 | |||
*,2 | OncoMed Pharmaceuticals Inc. CVR | 255,777 | 67 | |||
* | NovaBay Pharmaceuticals Inc. | 218,047 | 55 | |||
* | Tenax Therapeutics Inc. | 178,455 | 54 | |||
* | iSpecimen Inc. | 24,676 | 54 | |||
* | Alzamend Neuro Inc. | 60,747 | 52 | |||
* | Bone Biologics Corp. | 33,461 | 47 | |||
* | Journey Medical Corp. | 10,435 | 39 |
Shares | Market Value• ($000) | |||||
* | Allied Healthcare Products Inc. | 21,700 | 35 | |||
*,1,2 | Miragen Therapeutics Inc. CVR | 1,753,041 | 35 | |||
* | Immix Biopharma Inc. | 12,776 | 33 | |||
* | Lixte Biotechnology Holdings Inc. | 32,745 | 25 | |||
* | Pasithea Therapeutics Corp. | 24,456 | 25 | |||
* | Scopus Biopharma Inc. | 51,089 | 22 | |||
*,1 | Star Equity Holdings Inc. | 23,050 | 21 | |||
* | RenovoRx Inc. | 10,815 | 21 | |||
* | Unicycive Therapeutics Inc. | 22,695 | 19 | |||
* | Landos Biopharma Inc. | 22,260 | 16 | |||
* | Acurx Pharmaceuticals Inc. | 3,126 | 12 | |||
*,2 | Alexza Pharmaceuticals Inc. CVR | 327,391 | 11 | |||
*,1,2 | Oncternal Therapeutics Inc. CVR | 8,933 | 9 | |||
* | Nutriband Inc. | 1,292 | 5 | |||
*,2 | F-star Therapeutics Inc. CVR | 61,021 | 4 | |||
*,2 | Ambit Biosciences Corp. CVR | 201,330 | — | |||
*,2 | Biosante Pharmaceutical Inc. CVR | 253,823 | — | |||
*,1,2 | Synergy Pharmaceuticals LLC | 5,148,145 | — | |||
* | Advaxis Inc. Warrants Exp. 9/11/24 | 157,660 | — | |||
*,2 | Lantheus Holdings Inc. CVR | 2,319,511 | — | |||
*,1,2 | Aerpio Pharmaceuticals Inc. CVR | 1,201,352 | — | |||
* | SELLAS Life Sciences Group Inc. Warrants Exp. 4/5/27 | 40,000 | — | |||
157,633,292 | ||||||
Industrials (12.7%) | ||||||
Visa Inc. Class A | 48,299,101 | 9,509,610 | ||||
Mastercard Inc. Class A | 25,605,480 | 8,078,017 | ||||
Accenture plc Class A | 19,530,930 | 5,422,763 |
Shares | Market Value• ($000) | |||||
Raytheon Technologies Corp. | 43,833,878 | 4,212,874 | ||||
United Parcel Service Inc. Class B | 21,650,555 | 3,952,092 | ||||
Union Pacific Corp. | 18,515,427 | 3,948,970 | ||||
Honeywell International Inc. | 20,069,428 | 3,488,267 | ||||
Lockheed Martin Corp. | 7,846,147 | 3,373,529 | ||||
Caterpillar Inc. | 15,725,970 | 2,811,174 | ||||
Automatic Data Processing Inc. | 12,315,896 | 2,586,831 | ||||
Deere & Co. | 8,141,460 | 2,438,123 | ||||
* | Boeing Co. | 17,445,484 | 2,385,147 | |||
* | PayPal Holdings Inc. | 34,149,940 | 2,385,032 | |||
American Express Co. | 16,652,607 | 2,308,384 | ||||
3M Co. | 16,776,410 | 2,171,035 | ||||
General Electric Co. | 32,458,060 | 2,066,605 | ||||
Northrop Grumman Corp. | 4,125,682 | 1,974,428 | ||||
CSX Corp. | 64,094,157 | 1,862,576 | ||||
Fidelity National Information Services Inc. | 18,009,594 | 1,650,939 | ||||
Norfolk Southern Corp. | 7,027,504 | 1,597,281 | ||||
FedEx Corp. | 6,878,822 | 1,559,498 | ||||
Sherwin-Williams Co. | 6,904,174 | 1,545,914 | ||||
General Dynamics Corp. | 6,955,826 | 1,538,977 | ||||
* | Fiserv Inc. | 17,152,442 | 1,526,053 | |||
Illinois Tool Works Inc. | 8,259,053 | 1,505,212 | ||||
Eaton Corp. plc | 11,767,599 | 1,482,600 | ||||
Emerson Electric Co. | 17,510,486 | 1,392,784 | ||||
L3Harris Technologies Inc. | 5,690,101 | 1,375,297 | ||||
Capital One Financial Corp. | 11,588,829 | 1,207,440 | ||||
Paychex Inc. | 9,577,755 | 1,090,619 | ||||
Johnson Controls International plc | 20,512,360 | 982,132 | ||||
Cintas Corp. | 2,564,029 | 957,742 | ||||
* | Block Inc. Class A | 15,304,445 | 940,611 | |||
Parker-Hannifin Corp. | 3,784,141 | 931,088 | ||||
Global Payments Inc. | 8,303,706 | 918,722 | ||||
Trane Technologies plc | 6,897,074 | 895,723 | ||||
Carrier Global Corp. | 25,014,704 | 892,024 | ||||
Otis Worldwide Corp. | 12,462,833 | 880,748 | ||||
* | TransDigm Group Inc. | 1,529,450 | 820,810 | |||
Verisk Analytics Inc. | 4,654,651 | 805,674 | ||||
Cummins Inc. | 4,159,683 | 805,023 | ||||
PPG Industries Inc. | 6,965,700 | 796,458 | ||||
Old Dominion Freight Line Inc. | 3,009,113 | 771,175 |
Shares | Market Value• ($000) | |||||
* | Mettler-Toledo International Inc. | 668,519 | 767,975 | |||
PACCAR Inc. | 9,225,072 | 759,592 | ||||
DuPont de Nemours Inc. | 13,496,395 | 750,130 | ||||
AMETEK Inc. | 6,809,045 | 748,246 | ||||
* | Keysight Technologies Inc. | 5,306,659 | 731,523 | |||
Rockwell Automation Inc. | 3,426,865 | 683,008 | ||||
Equifax Inc. | 3,608,354 | 659,535 | ||||
Ball Corp. | 9,430,167 | 648,513 | ||||
WW Grainger Inc. | 1,355,534 | 615,995 | ||||
* | Waters Corp. | 1,776,440 | 587,966 | |||
Fortive Corp. | 10,570,233 | 574,809 | ||||
Vulcan Materials Co. | 3,920,212 | 557,062 | ||||
Martin Marietta Materials Inc. | 1,835,792 | 549,342 | ||||
Quanta Services Inc. | 4,238,786 | 531,289 | ||||
* | Teledyne Technologies Inc. | 1,382,026 | 518,412 | |||
Dover Corp. | 4,248,686 | 515,451 | ||||
* | United Rentals Inc. | 2,111,839 | 512,987 | |||
Ingersoll Rand Inc. | 11,969,109 | 503,660 | ||||
Jacobs Engineering Group Inc. | 3,791,037 | 481,955 | ||||
Expeditors International of Washington Inc. | 4,941,629 | 481,611 | ||||
Stanley Black & Decker Inc. | 4,447,875 | 466,404 | ||||
* | Zebra Technologies Corp. Class A | 1,547,648 | 454,931 | |||
* | FleetCor Technologies Inc. | 2,164,871 | 454,861 | |||
TransUnion | 5,668,963 | 453,460 | ||||
* | Trimble Inc. | 7,374,549 | 429,420 | |||
Westinghouse Air Brake Technologies Corp. | 5,113,848 | 419,745 | ||||
Xylem Inc. | 5,306,871 | 414,891 | ||||
Synchrony Financial | 14,772,164 | 408,007 | ||||
IDEX Corp. | 2,239,292 | 406,723 | ||||
* | Generac Holdings Inc. | 1,881,662 | 396,240 | |||
JB Hunt Transport Services Inc. | 2,470,939 | 389,099 | ||||
Textron Inc. | 6,342,028 | 387,308 | ||||
Jack Henry & Associates Inc. | 2,147,830 | 386,652 | ||||
CH Robinson Worldwide Inc. | 3,751,145 | 380,254 | ||||
Packaging Corp. of America | 2,761,303 | 379,679 | ||||
Carlisle Cos. Inc. | 1,525,008 | 363,882 | ||||
Booz Allen Hamilton Holding Corp. | 3,899,310 | 352,342 |
Shares | Market Value• ($000) | |||||
Masco Corp. | 6,960,297 | 352,191 | ||||
Howmet Aerospace Inc. | 11,099,353 | 349,075 | ||||
Crown Holdings Inc. | 3,624,712 | 334,090 | ||||
* | Bill.com Holdings Inc. | 2,919,865 | 321,010 | |||
Nordson Corp. | 1,537,229 | 311,197 | ||||
Snap-on Inc. | 1,572,761 | 309,881 | ||||
* | Fair Isaac Corp. | 764,813 | 306,614 | |||
HEICO Corp. Class A | 2,902,818 | 305,899 | ||||
RPM International Inc. | 3,819,125 | 300,642 | ||||
Westrock Co. | 7,514,577 | 299,381 | ||||
Graco Inc. | 4,987,062 | 296,281 | ||||
Hubbell Inc. Class B | 1,584,291 | 282,923 | ||||
* | Builders FirstSource Inc. | 5,085,842 | 273,110 | |||
AECOM | 4,162,564 | 271,482 | ||||
Huntington Ingalls Industries Inc. | 1,181,051 | 257,257 | ||||
Allegion plc | 2,585,779 | 253,148 | ||||
Sealed Air Corp. | 4,311,383 | 248,853 | ||||
Toro Co. | 3,084,436 | 233,769 | ||||
Watsco Inc. | 977,555 | 233,460 | ||||
Robert Half International Inc. | 3,090,921 | 231,479 | ||||
Genpact Ltd. | 5,462,127 | 231,376 | ||||
Fortune Brands Home & Security Inc. | 3,853,813 | 230,766 | ||||
Regal Rexnord Corp. | 1,979,371 | 224,698 | ||||
Pentair plc | 4,873,633 | 223,066 | ||||
Tetra Tech Inc. | 1,580,494 | 215,816 | ||||
Owens Corning | 2,867,321 | 213,071 | ||||
* | WillScot Mobile Mini Holdings Corp. | 6,559,566 | 212,661 | |||
Knight-Swift Transportation Holdings Inc. Class A | 4,584,053 | 212,196 | ||||
Lincoln Electric Holdings Inc. | 1,711,601 | 211,143 | ||||
* | Berry Global Group Inc. | 3,848,293 | 210,271 | |||
A O Smith Corp. | 3,829,591 | 209,402 | ||||
Cognex Corp. | 4,872,339 | 207,172 | ||||
* | WEX Inc. | 1,325,245 | 206,155 | |||
* | Middleby Corp. | 1,605,465 | 201,261 | |||
AptarGroup Inc. | 1,937,107 | 199,929 | ||||
* | Paylocity Holding Corp. | 1,137,959 | 198,483 | |||
* | Mohawk Industries Inc. | 1,592,386 | 197,599 | |||
Lennox International Inc. | 955,078 | 197,310 | ||||
* | Coherent Inc. | 729,362 | ���194,171 | |||
Sensata Technologies Holding plc | 4,621,160 | 190,900 |
Shares | Market Value• ($000) | |||||
Advanced Drainage Systems Inc. | 2,116,347 | 190,619 | ||||
Western Union Co. | 11,403,574 | 187,817 | ||||
Graphic Packaging Holding Co. | 9,085,340 | 186,249 | ||||
Littelfuse Inc. | 731,400 | 185,805 | ||||
* | Axon Enterprise Inc. | 1,992,629 | 185,653 | |||
* | FTI Consulting Inc. | 1,018,727 | 184,237 | |||
* | Trex Co. Inc. | 3,332,690 | 181,365 | |||
* | Chart Industries Inc. | 1,077,913 | 180,421 | |||
Donaldson Co. Inc. | 3,646,260 | 175,531 | ||||
AGCO Corp. | 1,754,309 | 173,150 | ||||
MKS Instruments Inc. | 1,645,203 | 168,847 | ||||
ITT Inc. | 2,456,246 | 165,158 | ||||
Sonoco Products Co. | 2,884,300 | 164,520 | ||||
MDU Resources Group Inc. | 5,995,980 | 161,831 | ||||
* | TopBuild Corp. | 964,961 | 161,303 | |||
* | WESCO International Inc. | 1,498,195 | 160,457 | |||
Oshkosh Corp. | 1,934,556 | 158,904 | ||||
Landstar System Inc. | 1,092,645 | 158,892 | ||||
Acuity Brands Inc. | 1,018,357 | 156,868 | ||||
Woodward Inc. | 1,694,714 | 156,744 | ||||
* | XPO Logistics Inc. | 3,225,946 | 155,362 | |||
EMCOR Group Inc. | 1,505,456 | 155,002 | ||||
nVent Electric plc | 4,903,297 | 153,620 | ||||
Curtiss-Wright Corp. | 1,131,160 | 149,381 | ||||
BWX Technologies Inc. | 2,696,600 | 148,556 | ||||
* | Saia Inc. | 777,503 | 146,171 | |||
Brunswick Corp. | 2,229,086 | 145,738 | ||||
* | AMN Healthcare Services Inc. | 1,321,091 | 144,937 | |||
* | Axalta Coating Systems Ltd. | 6,519,399 | 144,144 | |||
* | Euronet Worldwide Inc. | 1,413,083 | 142,142 | |||
Valmont Industries Inc. | 629,293 | 141,358 | ||||
Exponent Inc. | 1,526,274 | 139,608 | ||||
* | GXO Logistics Inc. | 3,224,776 | 139,536 | |||
* | ExlService Holdings Inc. | 935,053 | 137,761 | |||
MSA Safety Inc. | 1,101,399 | 133,346 | ||||
* | ASGN Inc. | 1,430,035 | 129,061 | |||
Simpson Manufacturing Co. Inc. | 1,273,493 | 128,126 | ||||
Louisiana-Pacific Corp. | 2,422,924 | 126,985 | ||||
Eagle Materials Inc. | 1,124,437 | 123,621 | ||||
* | MasTec Inc. | 1,676,477 | 120,136 | |||
ManpowerGroup Inc. | 1,552,244 | 118,607 | ||||
Crane Holdings Co. | 1,325,584 | 116,068 | ||||
Maximus Inc. | 1,809,795 | 113,130 |
Shares | Market Value• ($000) | |||||
Flowserve Corp. | 3,864,588 | 110,643 | ||||
Allison Transmission Holdings Inc. | 2,866,350 | 110,211 | ||||
Vontier Corp. | 4,766,739 | 109,587 | ||||
Applied Industrial Technologies Inc. | 1,138,873 | 109,525 | ||||
* | Kirby Corp. | 1,778,855 | 108,226 | |||
Insperity Inc. | 1,076,804 | 107,497 | ||||
* | Atkore Inc. | 1,275,231 | 105,857 | |||
* | Mercury Systems Inc. | 1,623,374 | 104,432 | |||
Armstrong World Industries Inc. | 1,385,697 | 103,872 | ||||
Air Lease Corp. Class A | 3,102,643 | 103,721 | ||||
John Bean Technologies Corp. | 937,689 | 103,540 | ||||
* | Marqeta Inc. Class A | 12,727,167 | 103,217 | |||
Ryder System Inc. | 1,434,580 | 101,941 | ||||
Silgan Holdings Inc. | 2,460,223 | 101,730 | ||||
* | Fluor Corp. | 4,176,642 | 101,659 | |||
MSC Industrial Direct Co. Inc. Class A | 1,325,378 | 99,549 | ||||
Triton International Ltd. | 1,888,137 | 99,410 | ||||
Watts Water Technologies Inc. Class A | 807,702 | 99,218 | ||||
GATX Corp. | 1,049,268 | 98,799 | ||||
Zurn Elkay Water Solutions Corp. | 3,540,090 | 96,432 | ||||
*,1 | Affirm Holdings Inc. Class A | 5,326,962 | 96,205 | |||
HB Fuller Co. | 1,568,113 | 94,416 | ||||
Korn Ferry | 1,589,243 | 92,208 | ||||
* | Aerojet Rocketdyne Holdings Inc. | 2,259,708 | 91,744 | |||
Spirit AeroSystems Holdings Inc. Class A | 3,089,618 | 90,526 | ||||
* | Welbilt Inc. | 3,779,824 | 89,998 | |||
Comfort Systems USA Inc. | 1,065,949 | 88,634 | ||||
* | API Group Corp. | 5,851,868 | 87,602 | |||
Matson Inc. | 1,195,759 | 87,147 | ||||
* | ACI Worldwide Inc. | 3,314,240 | 85,806 | |||
* | TriNet Group Inc. | 1,104,242 | 85,711 | |||
ABM Industries Inc. | 1,971,994 | 85,624 | ||||
Franklin Electric Co. Inc. | 1,160,761 | 85,037 | ||||
Brink's Co. | 1,386,274 | 84,161 | ||||
HEICO Corp. | 638,060 | 83,662 | ||||
* | Resideo Technologies Inc. | 4,300,650 | 83,519 | |||
* | Allegheny Technologies Inc. | 3,675,330 | 83,467 |
Shares | Market Value• ($000) | |||||
* | Beacon Roofing Supply Inc. | 1,621,163 | 83,263 | |||
Otter Tail Corp. | 1,233,433 | 82,800 | ||||
* | Summit Materials Inc. Class A | 3,480,861 | 81,069 | |||
EVERTEC Inc. | 2,128,157 | 78,486 | ||||
UniFirst Corp. | 453,297 | 78,049 | ||||
Hillenbrand Inc. | 1,904,367 | 78,003 | ||||
ManTech International Corp. Class A | 813,994 | 77,696 | ||||
* | Dycom Industries Inc. | 828,235 | 77,059 | |||
* | Meritor Inc. | 2,080,941 | 75,601 | |||
* | Bloom Energy Corp. Class A | 4,541,392 | 74,933 | |||
Albany International Corp. Class A | 928,502 | 73,157 | ||||
Forward Air Corp. | 792,116 | 72,843 | ||||
EnerSys | 1,200,792 | 70,799 | ||||
Badger Meter Inc. | 869,498 | 70,334 | ||||
Belden Inc. | 1,307,638 | 69,658 | ||||
Esab Corp. | 1,587,476 | 69,452 | ||||
AAON Inc. | 1,260,864 | 69,045 | ||||
* | Verra Mobility Corp. Class A | 4,381,712 | 68,837 | |||
Herc Holdings Inc. | 753,345 | 67,914 | ||||
* | Hub Group Inc. Class A | 957,107 | 67,897 | |||
Moog Inc. Class A | 854,386 | 67,830 | ||||
Altra Industrial Motion Corp. | 1,919,318 | 67,656 | ||||
* | SPX Corp. | 1,279,718 | 67,620 | |||
Werner Enterprises Inc. | 1,732,096 | 66,755 | ||||
* | Itron Inc. | 1,330,571 | 65,770 | |||
* | O-I Glass Inc. | 4,602,154 | 64,430 | |||
Brady Corp. Class A | 1,358,526 | 64,177 | ||||
Helios Technologies Inc. | 964,978 | 63,930 | ||||
Federal Signal Corp. | 1,788,394 | 63,667 | ||||
Kadant Inc. | 344,831 | 62,880 | ||||
* | Air Transport Services Group Inc. | 2,084,861 | 59,898 | |||
Trinity Industries Inc. | 2,464,742 | 59,696 | ||||
* | CBIZ Inc. | 1,466,180 | 58,589 | |||
Encore Wire Corp. | 556,383 | 57,819 | ||||
Installed Building Products Inc. | 692,060 | 57,552 | ||||
* | AeroVironment Inc. | 696,071 | 57,217 | |||
Kennametal Inc. | 2,437,172 | 56,616 | ||||
* | Alight Inc. Class A | 8,246,004 | 55,661 | |||
Mueller Water Products Inc. Class A | 4,662,860 | 54,695 | ||||
McGrath RentCorp | 712,105 | 54,120 |
Shares | Market Value• ($000) | |||||
* | GMS Inc. | 1,212,693 | 53,965 | |||
Maxar Technologies Inc. | 2,059,625 | 53,736 | ||||
* | AZEK Co. Inc. Class A | 3,192,502 | 53,442 | |||
Terex Corp. | 1,948,308 | 53,325 | ||||
ESCO Technologies Inc. | 763,301 | 52,187 | ||||
Bread Financial Holdings Inc. | 1,394,408 | 51,677 | ||||
* | Kratos Defense & Security Solutions Inc. | 3,706,694 | 51,449 | |||
* | Masonite International Corp. | 667,553 | 51,288 | |||
EnPro Industries Inc. | 617,629 | 50,602 | ||||
Greif Inc. Class A | 808,949 | 50,462 | ||||
ICF International Inc. | 527,690 | 50,131 | ||||
* | Shift4 Payments Inc. Class A | 1,500,262 | 49,599 | |||
* | Atlas Air Worldwide Holdings Inc. | 793,078 | 48,941 | |||
ArcBest Corp. | 686,324 | 48,297 | ||||
CSW Industrials Inc. | 456,693 | 47,053 | ||||
* | Cornerstone Building Brands Inc. | 1,883,391 | 46,124 | |||
* | NV5 Global Inc. | 390,016 | 45,530 | |||
* | Veritiv Corp. | 410,292 | 44,537 | |||
Barnes Group Inc. | 1,413,578 | 44,019 | ||||
Lindsay Corp. | 328,187 | 43,590 | ||||
* | Hayward Holdings Inc. | 3,015,971 | 43,400 | |||
* | CryoPort Inc. | 1,386,276 | 42,947 | |||
Griffon Corp. | 1,529,711 | 42,878 | ||||
* | MYR Group Inc. | 480,567 | 42,352 | |||
* | AAR Corp. | 983,450 | 41,148 | |||
* | Huron Consulting Group Inc. | 628,301 | 40,833 | |||
Granite Construction Inc. | 1,362,688 | 39,709 | ||||
* | CoreCivic Inc. | 3,572,996 | 39,696 | |||
* | Proto Labs Inc. | 814,781 | 38,979 | |||
* | OSI Systems Inc. | 454,099 | 38,798 | |||
ADT Inc. | 6,286,432 | 38,662 | ||||
* | Core & Main Inc. Class A | 1,727,865 | 38,531 | |||
TTEC Holdings Inc. | 557,182 | 37,827 | ||||
* | Gibraltar Industries Inc. | 965,231 | 37,403 | |||
* | Gates Industrial Corp. plc | 3,455,137 | 37,350 | |||
* | Vicor Corp. | 673,691 | 36,871 | |||
* | Flywire Corp. | 2,081,369 | 36,695 | |||
* | JELD-WEN Holding Inc. | 2,448,406 | 35,722 | |||
*,1 | Nikola Corp. | 7,433,169 | 35,382 | |||
*,1 | Legalzoom.com Inc. | 3,201,651 | 35,186 |
Shares | Market Value• ($000) | |||||
TriMas Corp. | 1,268,218 | 35,117 | ||||
Kforce Inc. | 572,036 | 35,089 | ||||
Alamo Group Inc. | 300,167 | 34,948 | ||||
Primoris Services Corp. | 1,587,278 | 34,539 | ||||
*,1 | Virgin Galactic Holdings Inc. | 5,718,002 | 34,422 | |||
* | Green Dot Corp. Class A | 1,360,199 | 34,155 | |||
Enerpac Tool Group Corp. Class A | 1,791,030 | 34,065 | ||||
Patrick Industries Inc. | 646,288 | 33,504 | ||||
Greenbrier Cos. Inc. | 919,276 | 33,085 | ||||
* | Evo Payments Inc. Class A | 1,399,071 | 32,906 | |||
*,1 | Hillman Solutions Corp. | 3,735,933 | 32,278 | |||
Tennant Co. | 523,760 | 31,033 | ||||
International Seaways Inc. | 1,457,984 | 30,909 | ||||
*,1 | Joby Aviation Inc. | 6,206,150 | 30,472 | |||
Mesa Laboratories Inc. | 148,560 | 30,297 | ||||
Standex International Corp. | 353,961 | 30,009 | ||||
* | Repay Holdings Corp. Class A | 2,322,074 | 29,839 | |||
*,1 | TuSimple Holdings Inc. Class A | 4,106,188 | 29,688 | |||
* | Energy Recovery Inc. | 1,517,231 | 29,465 | |||
*,1 | Enovix Corp. | 3,227,120 | 28,754 | |||
Marten Transport Ltd. | 1,706,467 | 28,703 | ||||
AZZ Inc. | 699,714 | 28,562 | ||||
* | PGT Innovations Inc. | 1,692,027 | 28,155 | |||
* | Payoneer Global Inc. | 7,090,492 | 27,795 | |||
Deluxe Corp. | 1,269,445 | 27,509 | ||||
*,1 | Proterra Inc. | 5,895,417 | 27,355 | |||
Astec Industries Inc. | 668,390 | 27,257 | ||||
H&E Equipment Services Inc. | 914,877 | 26,504 | ||||
*,1 | Rocket Lab USA Inc. | 6,825,603 | 25,869 | |||
Apogee Enterprises Inc. | 656,555 | 25,750 | ||||
Kaman Corp. | 815,171 | 25,474 | ||||
Schneider National Inc. Class B | 1,124,735 | 25,172 | ||||
* | Montrose Environmental Group Inc. | 741,896 | 25,046 | |||
*,1 | PureCycle Technologies Inc. | 3,355,841 | 24,900 | |||
Myers Industries Inc. | 1,064,279 | 24,191 | ||||
* | Great Lakes Dredge & Dock Corp. | 1,839,344 | 24,114 |
Shares | Market Value• ($000) | |||||
* | Construction Partners Inc. Class A | 1,141,590 | 23,905 | |||
* | Triumph Group Inc. | 1,793,753 | 23,839 | |||
* | Donnelley Financial Solutions Inc. | 799,114 | 23,406 | |||
Quanex Building Products Corp. | 998,720 | 22,721 | ||||
* | Cross Country Healthcare Inc. | 1,085,204 | 22,605 | |||
* | Titan International Inc. | 1,496,376 | 22,595 | |||
Columbus McKinnon Corp. | 792,497 | 22,483 | ||||
* | American Woodmark Corp. | 487,146 | 21,926 | |||
*,1 | AvidXchange Holdings Inc. | 3,487,261 | 21,412 | |||
* | ZipRecruiter Inc. Class A | 1,430,967 | 21,207 | |||
* | SP Plus Corp. | 686,415 | 21,087 | |||
* | Conduent Inc. | 4,781,360 | 20,655 | |||
* | First Advantage Corp. | 1,578,471 | 19,999 | |||
* | International Money Express Inc. | 959,962 | 19,650 | |||
Heartland Express Inc. | 1,381,733 | 19,220 | ||||
* | BlueLinx Holdings Inc. | 283,621 | 18,949 | |||
Wabash National Corp. | 1,392,656 | 18,912 | ||||
Heidrick & Struggles International Inc. | 580,340 | 18,780 | ||||
*,1 | Remitly Global Inc. | 2,441,869 | 18,705 | |||
*,1 | Mirion Technologies Inc. | 3,229,881 | 18,604 | |||
* | Sterling Infrastructure Inc. | 842,196 | 18,461 | |||
Resources Connection Inc. | 902,634 | 18,387 | ||||
Kelly Services Inc. Class A | 921,475 | 18,273 | ||||
Douglas Dynamics Inc. | 634,490 | 18,235 | ||||
CRA International Inc. | 202,089 | 18,051 | ||||
Insteel Industries Inc. | 533,587 | 17,966 | ||||
*,1 | Aurora Innovation Inc. | 9,341,797 | 17,843 | |||
* | Cimpress plc | 458,443 | 17,833 | |||
Gorman-Rupp Co. | 629,205 | 17,806 | ||||
* | Janus International Group Inc. | 1,949,501 | 17,604 | |||
* | Napco Security Technologies Inc. | 844,758 | 17,394 | |||
Shyft Group Inc. | 929,463 | 17,279 | ||||
*,1 | FARO Technologies Inc. | 546,761 | 16,857 |
Shares | Market Value• ($000) | |||||
* | TrueBlue Inc. | 941,732 | 16,857 | |||
Chase Corp. | 215,986 | 16,806 | ||||
Pitney Bowes Inc. | 4,633,489 | 16,773 | ||||
* | BTRS Holdings Inc. | 3,290,983 | 16,389 | |||
* | Franklin Covey Co. | 349,590 | 16,144 | |||
* | Forrester Research Inc. | 334,971 | 16,025 | |||
Argan Inc. | 426,696 | 15,924 | ||||
*,1 | Desktop Metal Inc. Class A | 7,026,006 | 15,457 | |||
* | Paya Holdings Inc. | 2,334,426 | 15,337 | |||
* | Modine Manufacturing Co. | 1,447,225 | 15,239 | |||
Ennis Inc. | 753,144 | 15,236 | ||||
Barrett Business Services Inc. | 207,068 | 15,089 | ||||
* | I3 Verticals Inc. Class A | 588,059 | 14,713 | |||
Eagle Bulk Shipping Inc. | 283,417 | 14,704 | ||||
* | DXP Enterprises Inc. | 478,217 | 14,648 | |||
* | BrightView Holdings Inc. | 1,219,101 | 14,629 | |||
* | TaskUS Inc. Class A | 839,369 | 14,152 | |||
* | Ducommun Inc. | 309,233 | 13,309 | |||
* | Thermon Group Holdings Inc. | 932,760 | 13,105 | |||
* | Titan Machinery Inc. | 579,374 | 12,984 | |||
Cass Information Systems Inc. | 374,933 | 12,673 | ||||
*,1 | CS Disco Inc. | 689,476 | 12,438 | |||
Kronos Worldwide Inc. | 666,260 | 12,259 | ||||
*,1 | Workhorse Group Inc. | 4,605,908 | 11,975 | |||
*,1 | Hyliion Holdings Corp. | 3,612,900 | 11,634 | |||
* | Transcat Inc. | 203,630 | 11,568 | |||
*,1 | Danimer Scientific Inc. | 2,505,333 | 11,424 | |||
* | Vectrus Inc. | 335,324 | 11,220 | |||
REV Group Inc. | 1,017,861 | 11,064 | ||||
VSE Corp. | 291,711 | 10,962 | ||||
*,1 | Archer Aviation Inc. Class A | 3,494,180 | 10,762 | |||
Pactiv Evergreen Inc. | 1,068,389 | 10,641 | ||||
* | Tutor Perini Corp. | 1,210,073 | 10,624 | |||
National Presto Industries Inc. | 156,902 | 10,299 | ||||
*,1 | Custom Truck One Source Inc. | 1,831,243 | 10,255 | |||
* | Radiant Logistics Inc. | 1,368,861 | 10,157 | |||
* | Manitowoc Co. Inc. | 964,116 | 10,152 | |||
* | Vishay Precision Group Inc. | 340,379 | 9,915 | |||
*,1 | Microvast Holdings Inc. | 4,443,200 | 9,864 |
Shares | Market Value• ($000) | |||||
Cadre Holdings Inc. | 488,900 | 9,617 | ||||
*,1 | HireRight Holdings Corp. | 676,654 | 9,615 | |||
* | CIRCOR International Inc. | 582,774 | 9,552 | |||
* | Willdan Group Inc. | 335,760 | 9,260 | |||
* | Sterling Check Corp. | 566,975 | 9,247 | |||
* | Cantaloupe Inc. | 1,644,546 | 9,209 | |||
* | Advantage Solutions Inc. | 2,419,639 | 9,195 | |||
* | Babcock & Wilcox Enterprises Inc. | 1,489,805 | 8,984 | |||
Allied Motion Technologies Inc. | 388,182 | 8,866 | ||||
* | Ranpak Holdings Corp. Class A | 1,252,622 | 8,768 | |||
Hyster-Yale Materials Handling Inc. | 269,570 | 8,686 | ||||
* | Hudson Technologies Inc. | 1,149,613 | 8,634 | |||
* | Daseke Inc. | 1,310,814 | 8,376 | |||
*,1 | Aspen Aerogels Inc. | 798,243 | 7,887 | |||
Information Services Group Inc. | 1,149,523 | 7,771 | ||||
*,1 | Blade Air Mobility Inc. | 1,737,835 | 7,751 | |||
* | USA Truck Inc. | 243,168 | 7,640 | |||
* | Astronics Corp. | 748,871 | 7,616 | |||
* | Distribution Solutions Group Inc. | 144,378 | 7,420 | |||
Covenant Logistics Group Inc. Class A | 287,706 | 7,219 | ||||
1 | Perella Weinberg Partners Class A | 1,232,960 | 7,188 | |||
Park Aerospace Corp. | 561,647 | 7,167 | ||||
* | IES Holdings Inc. | 235,697 | 7,111 | |||
* | ShotSpotter Inc. | 260,978 | 7,023 | |||
*,1 | PFSweb Inc. | 594,902 | 6,996 | |||
Miller Industries Inc. | 307,701 | 6,976 | ||||
* | Infrastructure & Energy Alternatives Inc. | 847,683 | 6,807 | |||
*,1 | Hyzon Motors Inc. | 2,193,000 | 6,447 | |||
* | Velo3D Inc. | 4,604,936 | 6,355 | |||
Powell Industries Inc. | 271,733 | 6,350 | ||||
*,1 | Paymentus Holdings Inc. Class A | 465,000 | 6,217 | |||
*,1 | Acacia Research Corp. | 1,231,212 | 6,205 | |||
*,1 | AEye Inc. | 3,244,500 | 6,197 | |||
* | DHI Group Inc. | 1,239,544 | 6,161 | |||
*,1 | Skillsoft Corp. | 1,716,308 | 6,041 | |||
United States Lime & Minerals Inc. | 53,708 | 5,672 | ||||
* | AerSale Corp. | 387,592 | 5,624 |
Shares | Market Value• ($000) | |||||
* | Vivint Smart Home Inc. | 1,564,118 | 5,443 | |||
* | Commercial Vehicle Group Inc. | 928,491 | 5,422 | |||
* | PAM Transportation Services Inc. | 196,206 | 5,374 | |||
*,1 | Luna Innovations Inc. | 909,888 | 5,305 | |||
* | Atlanticus Holdings Corp. | 150,156 | 5,281 | |||
* | Target Hospitality Corp. | 883,697 | 5,046 | |||
* | CECO Environmental Corp. | 843,032 | 5,041 | |||
*,1 | BlackSky Technology Inc. | 2,138,227 | 4,939 | |||
*,1 | Markforged Holding Corp. | 2,516,800 | 4,656 | |||
* | Performant Financial Corp. | 1,765,368 | 4,643 | |||
* | Atlas Technical Consultants Inc. Class A | 880,011 | 4,629 | |||
* | Moneylion Inc. | 3,463,658 | 4,572 | |||
*,1 | Evolv Technologies Holdings Inc. | 1,699,160 | 4,520 | |||
* | ServiceSource International Inc. | 3,062,915 | 4,502 | |||
LSI Industries Inc. | 728,530 | 4,495 | ||||
Greif Inc. Class B | 72,063 | 4,489 | ||||
Universal Logistics Holdings Inc. | 163,933 | 4,477 | ||||
* | Concrete Pumping Holdings Inc. | 737,042 | 4,466 | |||
*,1 | Sarcos Technology & Robotics Corp. | 1,585,038 | 4,216 | |||
*,1 | Yellow Corp. | 1,438,436 | 4,215 | |||
* | Blue Bird Corp. | 456,096 | 4,201 | |||
Hurco Cos. Inc. | 168,308 | 4,164 | ||||
*,1 | Velodyne Lidar Inc. | 4,327,261 | 4,133 | |||
* | RCM Technologies Inc. | 201,033 | 4,069 | |||
*,1 | Byrna Technologies Inc. | 472,114 | 4,055 | |||
1 | Park-Ohio Holdings Corp. | 249,800 | 3,962 | |||
*,1 | Astra Space Inc. | 3,043,100 | 3,956 | |||
*,1 | Lightning eMotors Inc. | 1,424,250 | 3,945 | |||
*,1 | Hydrofarm Holdings Group Inc. | 1,113,245 | 3,874 | |||
* | L B Foster Co. Class A | 298,585 | 3,843 | |||
* | Iteris Inc. | 1,300,466 | 3,758 | |||
* | Overseas Shipholding Group Inc. Class A | 1,723,796 | 3,534 | |||
BGSF Inc. | 281,551 | 3,480 |
Shares | Market Value• ($000) | |||||
* | Bowman Consulting Group Ltd. Class A | 278,036 | 3,431 | |||
* | DLH Holdings Corp. | 217,850 | 3,320 | |||
*,1 | Latch Inc. | 2,820,819 | 3,216 | |||
* | Gencor Industries Inc. | 312,496 | 3,175 | |||
*,1 | Momentus Inc. | 1,459,433 | 3,152 | |||
* | Mistras Group Inc. | 526,942 | 3,130 | |||
*,1 | Spire Global Inc. | 2,694,292 | 3,125 | |||
* | Twin Disc Inc. | 342,500 | 3,103 | |||
* | Quad/Graphics Inc. | 1,103,900 | 3,036 | |||
* | Karat Packaging Inc. | 171,091 | 2,919 | |||
*,1 | View Inc. | 1,681,844 | 2,725 | |||
*,1 | Xos Inc. | 1,445,239 | 2,659 | |||
ARC Document Solutions Inc. | 1,010,004 | 2,656 | ||||
*,1 | Berkshire Grey Inc. | 1,800,758 | 2,611 | |||
* | Manitex International Inc. | 396,585 | 2,574 | |||
* | INNOVATE Corp. | 1,371,484 | 2,373 | |||
* | Hill International Inc. | 1,410,112 | 2,369 | |||
* | Willis Lease Finance Corp. | 62,993 | 2,361 | |||
*,1 | BitNile Holdings Inc. | 8,879,564 | 2,358 | |||
* | Innovative Solutions & Support Inc. | 320,858 | 2,310 | |||
* | CPI Card Group Inc. | 129,785 | 2,180 | |||
* | Hudson Global Inc. | 66,585 | 2,091 | |||
Graham Corp. | 298,776 | 2,068 | ||||
*,1 | EVI Industries Inc. | 205,601 | 2,054 | |||
* | US Xpress Enterprises Inc. Class A | 737,548 | 1,977 | |||
*,1 | Energous Corp. | 1,931,682 | 1,932 | |||
1 | HireQuest Inc. | 136,738 | 1,927 | |||
* | Core Molding Technologies Inc. | 209,461 | 1,925 | |||
*,1 | Rekor Systems Inc. | 1,063,950 | 1,873 | |||
* | Orion Group Holdings Inc. | 803,756 | 1,833 | |||
*,1 | Biotricity Inc. | 1,017,800 | 1,802 | |||
* | Usio Inc. | 735,621 | 1,788 | |||
* | Smith-Midland Corp. | 127,058 | 1,779 | |||
* | Mayville Engineering Co. Inc. | 223,635 | 1,731 | |||
* | Alpha Pro Tech Ltd. | 386,631 | 1,724 | |||
*,1 | MICT Inc. | 3,024,389 | 1,720 | |||
*,1 | Redwire Corp. | 554,400 | 1,685 | |||
* | Frequency Electronics Inc. | 228,179 | 1,666 | |||
* | GEE Group Inc. | 3,114,781 | 1,626 | |||
*,1 | Aeroclean Technologies Inc. | 123,000 | 1,611 | |||
*,1 | Lightbridge Corp. | 343,933 | 1,603 | |||
*,1 | Agrify Corp. | 802,166 | 1,580 | |||
* | RF Industries Ltd. | 249,088 | 1,544 |
Shares | Market Value• ($000) | |||||
* | Orion Energy Systems Inc. | 762,830 | 1,533 | |||
*,1 | Orbital Energy Group Inc. | 2,332,919 | 1,469 | |||
* | Ultralife Corp. | 320,851 | 1,460 | |||
* | Paysign Inc. | 898,624 | 1,366 | |||
*,1 | IZEA Worldwide Inc. | 1,456,969 | 1,308 | |||
* | VirTra Inc. | 262,879 | 1,293 | |||
*,1 | Eos Energy Enterprises Inc. | 1,055,795 | 1,278 | |||
*,1 | Wrap Technologies Inc. | 665,739 | 1,238 | |||
* | Limbach Holdings Inc. | 230,117 | 1,229 | |||
* | Research Solutions Inc. | 684,982 | 1,212 | |||
*,1 | FreightCar America Inc. | 329,338 | 1,199 | |||
* | LS Starrett Co. Class A | 164,541 | 1,155 | |||
* | Sono-Tek Corp. | 157,600 | 1,150 | |||
* | Horizon Global Corp. | 689,607 | 1,124 | |||
*,1 | Katapult Holdings Inc. | 1,000,628 | 1,071 | |||
* | StarTek Inc. | 351,627 | 1,016 | |||
*,1 | Odyssey Marine Exploration Inc. Class B | 290,463 | 990 | |||
*,1 | AgEagle Aerial Systems Inc. | 1,524,286 | 985 | |||
*,1 | Coda Octopus Group Inc. | 183,570 | 918 | |||
*,1 | Digital Ally Inc. | 1,055,808 | 835 | |||
* | ALJ Regional Holdings Inc. | 420,907 | 812 | |||
* | Priority Technology Holdings Inc. | 239,738 | 791 | |||
*,1 | AIkido Pharma Inc. | 132,561 | 781 | |||
Where Food Comes From Inc. | 68,560 | 740 | ||||
* | LightPath Technologies Inc. Class A | 592,317 | 729 | |||
* | ClearSign Technologies Corp. | 588,394 | 712 | |||
* | Sypris Solutions Inc. | 286,226 | 664 | |||
*,1 | Broadwind Inc. | 381,008 | 625 | |||
*,1 | Fuel Tech Inc. | 473,281 | 587 | |||
* | Ballantyne Strong Inc. | 226,990 | 547 | |||
* | Air T Inc. | 32,860 | 541 | |||
* | Team Inc. | 713,063 | 530 | |||
* | Williams Industrial Services Group Inc. | 381,626 | 530 | |||
* | Espey Manufacturing & Electronics Corp. | 36,520 | 520 | |||
*,1 | Shapeways Holdings Inc. | 433,187 | 507 |
Shares | Market Value• ($000) | |||||
*,1 | Astrotech Corp. | 1,172,756 | 504 | |||
* | Air Industries Group | 702,427 | 492 | |||
*,1 | DSS Inc. | 1,333,662 | 469 | |||
Taitron Components Inc. Class A | 126,100 | 460 | ||||
* | Wireless Telecom Group Inc. | 339,257 | 448 | |||
* | Sidus Space Inc. Class A | 134,281 | 443 | |||
Autoscope Technologies Corp. | 79,282 | 433 | ||||
* | CompoSecure Inc. | 79,739 | 415 | |||
* | TSR Inc. | 50,537 | 376 | |||
*,1 | TOMI Environmental Solutions Inc. | 447,022 | 318 | |||
* | Pioneer Power Solutions Inc. | 107,157 | 308 | |||
* | ENGlobal Corp. | 311,944 | 297 | |||
*,1 | GreenBox POS | 270,686 | 284 | |||
*,1 | AmpliTech Group Inc. | 132,700 | 268 | |||
* | Bio-key International Inc. | 138,179 | 245 | |||
*,1 | Enjoy Technology Inc. | 1,024,765 | 222 | |||
* | Jewett-Cameron Trading Co. Ltd. | 33,538 | 211 | |||
* | SG Blocks Inc. | 122,327 | 204 | |||
* | ShiftPixy Inc. | 588,101 | 186 | |||
* | LGL Group Inc. | 14,211 | 184 | |||
* | Socket Mobile Inc. | 59,999 | 182 | |||
*,1 | Polar Power Inc. | 42,978 | 116 | |||
* | P&F Industries Inc. Class A | 19,462 | 111 | |||
* | Servotronics Inc. | 8,333 | 94 | |||
*,1 | Applied DNA Sciences Inc. | 120,114 | 89 | |||
* | Staffing 360 Solutions Inc. | 8,944 | 52 | |||
* | OLB Group Inc. | 45,532 | 40 | |||
* | Schmitt Industries Inc. | 5,581 | 22 | |||
Ardagh Group SA Class A | 37 | 1 | ||||
* | LGL Group Inc. Warrants Exp. 12/16/25 | 2,391 | 1 | |||
*,2 | Patriot National Inc. | 129,819 | — | |||
140,384,026 | ||||||
Real Estate (3.7%) | ||||||
American Tower Corp. | 13,699,578 | 3,501,475 | ||||
Prologis Inc. | 21,809,403 | 2,565,876 | ||||
Crown Castle International Corp. | 12,769,139 | 2,150,068 | ||||
Equinix Inc. | 2,683,996 | 1,763,439 | ||||
Public Storage | 4,397,997 | 1,375,122 | ||||
Realty Income Corp. | 17,717,028 | 1,209,364 |
Shares | Market Value• ($000) | |||||
Welltower Inc. | 13,384,839 | 1,102,242 | ||||
Digital Realty Trust Inc. | 8,395,010 | 1,089,924 | ||||
SBA Communications Corp. | 3,179,408 | 1,017,570 | ||||
Simon Property Group Inc. | 9,687,935 | 919,579 | ||||
AvalonBay Communities Inc. | 4,120,696 | 800,445 | ||||
Equity Residential | 10,536,542 | 760,949 | ||||
Weyerhaeuser Co. | 21,947,386 | 726,897 | ||||
* | CoStar Group Inc. | 11,689,346 | 706,153 | |||
VICI Properties Inc. | 23,615,541 | 703,507 | ||||
Alexandria Real Estate Equities Inc. | 4,812,436 | 697,948 | ||||
* | CBRE Group Inc. Class A | 9,157,634 | 674,093 | |||
Extra Space Storage Inc. | 3,960,305 | 673,727 | ||||
Invitation Homes Inc. | 17,988,276 | 640,023 | ||||
Duke Realty Corp. | 11,335,606 | 622,892 | ||||
Ventas Inc. | 11,792,406 | 606,483 | ||||
Mid-America Apartment Communities Inc. | 3,402,885 | 594,382 | ||||
Sun Communities Inc. | 3,585,395 | 571,369 | ||||
Essex Property Trust Inc. | 1,927,591 | 504,084 | ||||
WP Carey Inc. | 5,686,966 | 471,222 | ||||
UDR Inc. | 9,390,427 | 432,335 | ||||
Camden Property Trust | 3,134,737 | 421,559 | ||||
Iron Mountain Inc. | 8,573,633 | 417,450 | ||||
Healthpeak Properties Inc. | 15,908,916 | 412,200 | ||||
Boston Properties Inc. | 4,157,325 | 369,919 | ||||
Kimco Realty Corp. | 18,204,074 | 359,895 | ||||
Equity LifeStyle Properties Inc. | 4,933,410 | 347,657 | ||||
Host Hotels & Resorts Inc. | 21,060,880 | 330,235 | ||||
Gaming & Leisure Properties Inc. | 6,923,667 | 317,519 | ||||
Regency Centers Corp. | 5,082,379 | 301,436 | ||||
American Homes 4 Rent Class A | 8,192,217 | 290,332 | ||||
CubeSmart | 6,612,184 | 282,473 | ||||
Rexford Industrial Realty Inc. | 4,860,376 | 279,909 | ||||
Life Storage Inc. | 2,485,324 | 277,511 | ||||
Medical Properties Trust Inc. | 17,679,181 | 269,961 | ||||
American Campus Communities Inc. | 4,105,887 | 264,707 |
Shares | Market Value• ($000) | |||||
* | Jones Lang LaSalle Inc. | 1,442,204 | 252,184 | |||
Americold Realty Trust Inc. | 7,941,527 | 238,563 | ||||
Lamar Advertising Co. Class A | 2,566,388 | 225,765 | ||||
Federal Realty OP LP | 2,340,059 | 224,037 | ||||
National Retail Properties Inc. | 5,183,596 | 222,895 | ||||
STORE Capital Corp. | 7,842,320 | 204,528 | ||||
Omega Healthcare Investors Inc. | 6,927,342 | 195,282 | ||||
Apartment Income REIT Corp. Class A | 4,622,339 | 192,289 | ||||
EastGroup Properties Inc. | 1,228,769 | 189,636 | ||||
Healthcare Trust of America Inc. Class A | 6,752,499 | 188,462 | ||||
First Industrial Realty Trust Inc. | 3,881,252 | 184,282 | ||||
Kilroy Realty Corp. | 3,442,819 | 180,163 | ||||
Brixmor Property Group Inc. | 8,831,872 | 178,492 | ||||
STAG Industrial Inc. | 5,286,663 | 163,252 | ||||
Rayonier Inc. | 4,316,684 | 161,358 | ||||
Agree Realty Corp. | 2,216,598 | 159,883 | ||||
* | Zillow Group Inc. Class C | 4,819,261 | 153,012 | |||
Spirit Realty Capital Inc. | 3,959,610 | 149,594 | ||||
Vornado Realty Trust | 5,081,409 | 145,277 | ||||
Independence Realty Trust Inc. | 6,515,157 | 135,059 | ||||
Cousins Properties Inc. | 4,404,720 | 128,750 | ||||
National Storage Affiliates Trust | 2,555,174 | 127,938 | ||||
Terreno Realty Corp. | 2,229,229 | 124,235 | ||||
Healthcare Realty Trust Inc. | 4,458,691 | 121,276 | ||||
* | Ryman Hospitality Properties Inc. | 1,540,556 | 117,128 | |||
Physicians Realty Trust | 6,661,532 | 116,244 | ||||
1 | Phillips Edison & Co. Inc. | 3,356,342 | 112,135 | |||
Kite Realty Group Trust | 6,457,104 | 111,643 | ||||
Douglas Emmett Inc. | 4,940,018 | 110,558 | ||||
PS Business Parks Inc. | 569,363 | 106,556 | ||||
Highwoods Properties Inc. | 3,112,760 | 106,425 | ||||
EPR Properties | 2,213,954 | 103,901 | ||||
Broadstone Net Lease Inc. | 4,753,183 | 97,488 |
Shares | Market Value• ($000) | |||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 2,557,486 | 96,826 | ||||
Sabra Health Care REIT Inc. | 6,844,956 | 95,624 | ||||
Apple Hospitality REIT Inc. | 6,401,905 | 93,916 | ||||
LXP Industrial Trust | 8,460,574 | 90,867 | ||||
Innovative Industrial Properties Inc. | 822,758 | 90,396 | ||||
SL Green Realty Corp. | 1,890,435 | 87,244 | ||||
* | Equity Commonwealth | 3,167,944 | 87,214 | |||
Corporate Office Properties Trust | 3,324,996 | 87,082 | ||||
JBG SMITH Properties | 3,660,310 | 86,530 | ||||
PotlatchDeltic Corp. | 1,941,102 | 85,777 | ||||
* | DigitalBridge Group Inc. | 17,561,462 | 85,700 | |||
Park Hotels & Resorts Inc. | 6,192,637 | 84,034 | ||||
Essential Properties Realty Trust Inc. | 3,881,799 | 83,420 | ||||
National Health Investors Inc. | 1,292,926 | 78,364 | ||||
* | Howard Hughes Corp. | 1,136,800 | 77,359 | |||
Outfront Media Inc. | 4,337,620 | 73,523 | ||||
SITE Centers Corp. | 5,344,005 | 71,984 | ||||
* | Cushman & Wakefield plc | 4,675,800 | 71,259 | |||
Kennedy-Wilson Holdings Inc. | 3,498,827 | 66,268 | ||||
Uniti Group Inc. | 6,953,160 | ��� 65,499 | ||||
*,1 | Opendoor Technologies Inc. | 13,792,524 | 64,963 | |||
Pebblebrook Hotel Trust | 3,868,924 | 64,108 | ||||
Four Corners Property Trust Inc. | 2,377,120 | 63,208 | ||||
* | Sunstone Hotel Investors Inc. | 6,347,504 | 62,967 | |||
Hudson Pacific Properties Inc. | 4,054,961 | 60,176 | ||||
Washington REIT | 2,587,334 | 55,136 | ||||
Retail Opportunity Investments Corp. | 3,455,287 | 54,524 | ||||
RLJ Lodging Trust | 4,929,999 | 54,378 | ||||
CareTrust REIT Inc. | 2,899,260 | 53,462 | ||||
Macerich Co. | 6,037,733 | 52,589 | ||||
Easterly Government Properties Inc. Class A | 2,709,162 | 51,582 | ||||
* | DiamondRock Hospitality Co. | 6,242,243 | 51,249 |
Shares | Market Value• ($000) | |||||
Urban Edge Properties | 3,305,987 | 50,284 | ||||
Brandywine Realty Trust | 5,120,662 | 49,363 | ||||
* | Xenia Hotels & Resorts Inc. | 3,382,673 | 49,150 | |||
InvenTrust Properties Corp. | 1,897,447 | 48,935 | ||||
Piedmont Office Realty Trust Inc. Class A | 3,673,893 | 48,201 | ||||
St. Joe Co. | 1,140,046 | 45,100 | ||||
LTC Properties Inc. | 1,172,557 | 45,014 | ||||
Acadia Realty Trust | 2,826,521 | 44,150 | ||||
Global Net Lease Inc. | 3,081,212 | 43,630 | ||||
Newmark Group Inc. Class A | 4,339,021 | 41,958 | ||||
*,1 | WeWork Inc. | 8,300,101 | 41,667 | |||
Tanger Factory Outlet Centers Inc. | 2,923,232 | 41,568 | ||||
NexPoint Residential Trust Inc. | 649,147 | 40,578 | ||||
American Assets Trust Inc. | 1,353,784 | 40,207 | ||||
Paramount Group Inc. | 5,507,357 | 39,818 | ||||
Alexander & Baldwin Inc. | 2,123,709 | 38,121 | ||||
* | Zillow Group Inc. Class A | 1,187,702 | 37,781 | |||
Centerspace | 450,753 | 36,759 | ||||
Empire State Realty Trust Inc. Class A | 4,926,032 | 34,630 | ||||
* | Radius Global Infrastructure Inc. | 2,180,307 | 33,272 | |||
* | Anywhere Real Estate Inc. | 3,305,667 | 32,495 | |||
Getty Realty Corp. | 1,161,115 | 30,770 | ||||
* | Veris Residential Inc. | 2,304,948 | 30,518 | |||
Office Properties Income Trust | 1,460,391 | 29,135 | ||||
* | Apartment Investment & Management Co. Class A | 4,486,827 | 28,716 | |||
Necessity Retail REIT Inc. Class A | 3,919,455 | 28,534 | ||||
Marcus & Millichap Inc. | 742,190 | 27,454 | ||||
*,1 | Compass Inc. Class A | 7,563,384 | 27,304 | |||
Industrial Logistics Properties Trust | 1,919,383 | 27,025 | ||||
NETSTREIT Corp. | 1,408,923 | 26,586 | ||||
Armada Hoffler Properties Inc. | 2,026,454 | 26,020 | ||||
Service Properties Trust | 4,911,327 | 25,686 |
Shares | Market Value• ($000) | |||||
Community Healthcare Trust Inc. | 709,254 | 25,682 | ||||
UMH Properties Inc. | 1,435,073 | 25,343 | ||||
RPT Realty | 2,545,405 | 25,021 | ||||
*,1 | Redfin Corp. | 3,013,140 | 24,828 | |||
1 | eXp World Holdings Inc. | 1,965,620 | 23,135 | |||
* | GEO Group Inc. | 3,469,156 | 22,896 | |||
* | Summit Hotel Properties Inc. | 3,029,258 | 22,023 | |||
Bluerock Residential Growth REIT Inc. Class A | 830,708 | 21,839 | ||||
Gladstone Land Corp. | 965,225 | 21,389 | ||||
Gladstone Commercial Corp. | 1,127,929 | 21,250 | ||||
Global Medical REIT Inc. | 1,826,704 | 20,514 | ||||
Safehold Inc. | 562,104 | 19,882 | ||||
Plymouth Industrial REIT Inc. | 1,125,885 | 19,748 | ||||
Universal Health Realty Income Trust | 354,893 | 18,884 | ||||
Saul Centers Inc. | 400,543 | 18,870 | ||||
Ares Commercial Real Estate Corp. | 1,509,639 | �� 18,463 | ||||
Orion Office REIT Inc. | 1,675,026 | 18,358 | ||||
Farmland Partners Inc. | 1,324,098 | 18,273 | ||||
City Office REIT Inc. | 1,177,279 | 15,246 | ||||
Whitestone REIT | 1,399,923 | 15,049 | ||||
CatchMark Timber Trust Inc. Class A | 1,484,544 | 14,935 | ||||
* | Chatham Lodging Trust | 1,389,373 | 14,519 | |||
RE/MAX Holdings Inc. Class A | 542,864 | 13,311 | ||||
Diversified Healthcare Trust | 7,212,750 | 13,127 | ||||
Alexander's Inc. | 58,505 | 12,997 | ||||
One Liberty Properties Inc. | 486,722 | 12,645 | ||||
RMR Group Inc. Class A | 442,978 | 12,558 | ||||
Urstadt Biddle Properties Inc. Class A | 772,832 | 12,520 | ||||
Bridge Investment Group Holdings Inc. Class A | 806,505 | 11,727 | ||||
Franklin Street Properties Corp. | 2,758,628 | 11,503 | ||||
* | Hersha Hospitality Trust Class A | 1,071,995 | 10,516 | |||
* | FRP Holdings Inc. | 168,398 | 10,163 |
Shares | Market Value• ($000) | |||||
1 | CTO Realty Growth Inc. | 164,401 | 10,048 | |||
Cedar Realty Trust Inc. | 341,658 | 9,836 | ||||
Douglas Elliman Inc. | 1,973,467 | 9,453 | ||||
* | Tejon Ranch Co. | 597,450 | 9,272 | |||
1 | Braemar Hotels & Resorts Inc. | 2,097,772 | 8,999 | |||
Indus Realty Trust Inc. | 132,747 | 7,880 | ||||
BRT Apartments Corp. | 355,404 | 7,638 | ||||
Postal Realty Trust Inc. Class A | 503,103 | 7,496 | ||||
* | Stratus Properties Inc. | 224,041 | 7,220 | |||
* | Forestar Group Inc. | 506,605 | 6,935 | |||
*,1 | Ashford Hospitality Trust Inc. | 1,059,345 | 6,335 | |||
Alpine Income Property Trust Inc. | 327,561 | 5,870 | ||||
* | Seritage Growth Properties Class A | 1,050,167 | 5,471 | |||
1 | Urstadt Biddle Properties Inc. | 265,654 | 4,604 | |||
1 | Modiv Inc. Class C | 190,758 | 3,373 | |||
Clipper Realty Inc. | 405,295 | 3,129 | ||||
*,1 | Offerpad Solutions Inc. | 1,360,320 | 2,966 | |||
Creative Media & Community Trust Corp. | 365,744 | 2,597 | ||||
New York City REIT Inc. Class A | 399,177 | 2,096 | ||||
* | Altisource Portfolio Solutions SA | 175,265 | 1,882 | |||
Global Self Storage Inc. | 319,661 | 1,800 | ||||
* | Maui Land & Pineapple Co. Inc. | 189,318 | 1,793 | |||
*,1 | Fathom Holdings Inc. | 225,495 | 1,768 | |||
* | AMREP Corp. | 90,095 | 1,011 | |||
* | Power REIT | 77,896 | 992 | |||
* | Rafael Holdings Inc. Class B | 420,549 | 786 | |||
CorEnergy Infrastructure Trust Inc. | 307,228 | 774 | ||||
*,2 | Spirit MTA REIT | 2,854,330 | 764 | |||
* | Trinity Place Holdings Inc. | 753,758 | 761 | |||
* | Comstock Holding Cos. Inc. Class A | 164,051 | 742 | |||
* | Sotherly Hotels Inc. | 337,859 | 588 | |||
1 | Presidio Property Trust Inc. Class A | 176,733 | 564 | |||
* | Wheeler REIT Inc. | 130,830 | 332 |
Shares | Market Value• ($000) | |||||
*,1 | Harbor Custom Development Inc. | 238,273 | 331 | |||
* | Alset EHome International Inc. | 1,041,111 | 306 | |||
*,1 | Pennsylvania REIT | 84,789 | 284 | |||
*,1 | Avalon GloboCare Corp. | 503,819 | 239 | |||
*,2 | New York REIT Liquidating LLC | 19,100 | 215 | |||
Generation Income Properties Inc. | 32,616 | 207 | ||||
* | JW Mays Inc. | 1,318 | 55 | |||
* | Presidio Property Trust Inc. Warrants Exp. 1/24/27 | 110,319 | 20 | |||
Medalist Diversified REIT Inc. | 18,356 | 15 | ||||
41,294,539 | ||||||
Technology (25.6%) | ||||||
Apple Inc. | 453,344,258 | 61,981,227 | ||||
Microsoft Corp. | 220,511,857 | 56,634,060 | ||||
* | Alphabet Inc. Class A | 8,897,835 | 19,390,696 | |||
* | Alphabet Inc. Class C | 7,823,086 | 17,112,609 | |||
* | Meta Platforms Inc. Class A | 67,624,180 | 10,904,399 | |||
NVIDIA Corp. | 70,136,366 | 10,631,972 | ||||
Broadcom Inc. | 11,435,248 | 5,555,358 | ||||
* | Adobe Inc. | 13,930,908 | 5,099,548 | |||
* | Salesforce Inc. | 27,841,521 | 4,594,965 | |||
Intel Corp. | 120,549,478 | 4,509,756 | ||||
QUALCOMM Inc. | 33,020,874 | 4,218,086 | ||||
Texas Instruments Inc. | 27,182,173 | 4,176,541 | ||||
International Business Machines Corp. | 26,518,090 | 3,744,089 | ||||
* | Advanced Micro Devices Inc. | 47,777,056 | 3,653,511 | |||
Intuit Inc. | 7,901,400 | 3,045,516 | ||||
Oracle Corp. | 43,269,148 | 3,023,215 | ||||
* | ServiceNow Inc. | 5,911,024 | 2,810,810 | |||
Applied Materials Inc. | 26,046,472 | 2,369,708 | ||||
Analog Devices Inc. | 15,324,588 | 2,238,769 | ||||
Micron Technology Inc. | 32,921,676 | 1,819,910 | ||||
Lam Research Corp. | 4,090,395 | 1,743,122 | ||||
* | Palo Alto Networks Inc. | 2,937,891 | 1,451,142 | |||
KLA Corp. | 4,400,682 | 1,404,170 | ||||
* | Synopsys Inc. | 4,510,761 | 1,369,918 | |||
Roper Technologies Inc. | 3,121,933 | 1,232,071 | ||||
* | Cadence Design Systems Inc. | 8,131,463 | 1,219,963 | |||
* | Fortinet Inc. | 20,115,986 | 1,138,163 | |||
Amphenol Corp. Class A | 17,604,096 | 1,133,352 |
Shares | Market Value• ($000) | |||||
* | Autodesk Inc. | 6,414,376 | 1,103,016 | |||
* | Snowflake Inc. Class A | 7,887,034 | 1,096,771 | |||
Marvell Technology Inc. | 25,094,316 | 1,092,356 | ||||
TE Connectivity Ltd. | 9,501,520 | 1,075,097 | ||||
Cognizant Technology Solutions Corp. Class A | 15,363,511 | 1,036,883 | ||||
* | Crowdstrike Holdings Inc. Class A | 5,977,042 | 1,007,490 | |||
Microchip Technology Inc. | 16,352,367 | 949,745 | ||||
HP Inc. | 27,452,136 | 899,881 | ||||
* | Workday Inc. Class A | 5,858,756 | 817,765 | |||
* | Datadog Inc. Class A | 7,515,469 | 715,773 | |||
VMware Inc. Class A | 6,208,405 | 707,634 | ||||
Corning Inc. | 22,425,908 | 706,640 | ||||
* | Zoom Video Communications Inc. Class A | 6,311,253 | 681,426 | |||
* | Twitter Inc. | 18,030,559 | 674,163 | |||
* | ON Semiconductor Corp. | 12,813,308 | 644,638 | |||
CDW Corp. | 3,984,845 | 627,852 | ||||
* | ANSYS Inc. | 2,563,593 | 613,442 | |||
* | Match Group Inc. | 8,427,801 | 587,333 | |||
* | Gartner Inc. | 2,257,243 | 545,869 | |||
Hewlett Packard Enterprise Co. | 38,390,612 | 509,060 | ||||
Monolithic Power Systems Inc. | 1,307,510 | 502,136 | ||||
* | MongoDB Inc. | 1,907,345 | 494,956 | |||
* | DoorDash Inc. Class A | 7,578,169 | 486,291 | |||
* | EPAM Systems Inc. | 1,601,726 | 472,157 | |||
* | Palantir Technologies Inc. Class A | 51,617,478 | 468,171 | |||
* | VeriSign Inc. | 2,747,542 | 459,746 | |||
Skyworks Solutions Inc. | 4,745,000 | 439,577 | ||||
* | Akamai Technologies Inc. | 4,723,850 | 431,429 | |||
Seagate Technology Holdings plc | 6,023,960 | 430,352 | ||||
NetApp Inc. | 6,559,583 | 427,947 | ||||
* | Twilio Inc. Class A | 5,068,531 | 424,794 | |||
* | Paycom Software Inc. | 1,511,854 | 423,501 | |||
Teradyne Inc. | 4,721,107 | 422,775 | ||||
* | Splunk Inc. | 4,743,826 | 419,639 | |||
* | Western Digital Corp. | 9,241,157 | 414,281 | |||
* | Tyler Technologies Inc. | 1,223,193 | 406,687 | |||
Leidos Holdings Inc. | 4,028,236 | 405,684 |
Shares | Market Value• ($000) | |||||
* | HubSpot Inc. | 1,337,719 | 402,185 | |||
* | Okta Inc. | 4,444,346 | 401,769 | |||
* | Snap Inc. Class A | 30,501,033 | 400,479 | |||
* | Zscaler Inc. | 2,495,735 | 373,137 | |||
SS&C Technologies Holdings Inc. | 6,390,338 | 371,087 | ||||
Entegris Inc. | 4,004,607 | 368,944 | ||||
Citrix Systems Inc. | 3,728,231 | 362,272 | ||||
NortonLifeLock Inc. | 16,197,518 | 355,698 | ||||
Dell Technologies Inc. Class C | 7,680,339 | 354,908 | ||||
* | DocuSign Inc. | 5,893,389 | 338,163 | |||
* | GoDaddy Inc. Class A | 4,772,174 | 331,952 | |||
* | PTC Inc. | 3,104,951 | 330,181 | |||
* | Cloudflare Inc. Class A | 7,461,988 | 326,462 | |||
* | Pinterest Inc. Class A | 16,941,251 | 307,653 | |||
* | Qorvo Inc. | 3,127,811 | 295,015 | |||
* | Black Knight Inc. | 4,367,876 | 285,615 | |||
* | ZoomInfo Technologies Inc. Class A | 8,327,011 | 276,790 | |||
* | F5 Inc. | 1,785,891 | 273,313 | |||
* | Zendesk Inc. | 3,614,648 | 267,737 | |||
* | Dynatrace Inc. | 5,904,692 | 232,881 | |||
* | Wolfspeed Inc. | 3,649,888 | 231,585 | |||
*,1 | Unity Software Inc. | 6,116,597 | 225,213 | |||
* | Arrow Electronics Inc. | 1,972,789 | 221,130 | |||
Bentley Systems Inc. Class B | 6,511,361 | 216,828 | ||||
* | Pure Storage Inc. Class A | 8,363,087 | 215,015 | |||
* | Manhattan Associates Inc. | 1,863,096 | 213,511 | |||
* | DXC Technology Co. | 7,004,443 | 212,305 | |||
* | Ceridian HCM Holding Inc. | 4,287,167 | 201,840 | |||
KBR Inc. | 4,121,251 | 199,427 | ||||
* | Lattice Semiconductor Corp. | 4,053,045 | 196,573 | |||
* | CACI International Inc. Class A | 690,560 | 194,586 | |||
Jabil Inc. | 3,753,632 | 192,224 | ||||
CDK Global Inc. | 3,441,058 | 188,467 | ||||
* | Five9 Inc. | 2,054,599 | 187,256 | |||
* | Avalara Inc. | 2,597,646 | 183,394 | |||
*,1 | AppLovin Corp. Class A | 5,302,695 | 182,625 | |||
* | IAC/InterActiveCorp | 2,357,822 | 179,124 | |||
* | Guidewire Software Inc. | 2,468,690 | 175,252 | |||
* | Sailpoint Technologies Holdings Inc. | 2,771,733 | 173,732 |
Shares | Market Value• ($000) | |||||
* | Dropbox Inc. Class A | 8,190,384 | 171,916 | |||
Concentrix Corp. | 1,236,353 | 167,699 | ||||
* | UiPath Inc. Class A | 8,880,324 | 161,533 | |||
* | II-VI Inc. | 3,145,866 | 160,282 | |||
* | Change Healthcare Inc. | 6,905,558 | 159,242 | |||
Azenta Inc. | 2,207,568 | 159,166 | ||||
* | Aspen Technology Inc. | 850,292 | 156,182 | |||
Science Applications International Corp. | 1,651,693 | 153,773 | ||||
* | Silicon Laboratories Inc. | 1,077,777 | 151,126 | |||
* | Elastic NV | 2,203,389 | 149,103 | |||
* | Tenable Holdings Inc. | 3,266,688 | 148,340 | |||
CMC Materials Inc. | 841,270 | 146,793 | ||||
* | Rogers Corp. | 552,455 | 144,793 | |||
* | Mandiant Corp. | 6,541,513 | 142,736 | |||
* | Synaptics Inc. | 1,170,063 | 138,126 | |||
Dolby Laboratories Inc. Class A | 1,915,927 | 137,104 | ||||
* | RingCentral Inc. Class A | 2,499,734 | 130,636 | |||
* | Qualys Inc. | 1,028,595 | 129,747 | |||
Power Integrations Inc. | 1,721,944 | 129,163 | ||||
* | SentinelOne Inc. Class A | 5,501,483 | 128,350 | |||
* | Coupa Software Inc. | 2,222,001 | 126,876 | |||
Universal Display Corp. | 1,251,396 | 126,566 | ||||
Switch Inc. Class A | 3,756,669 | 125,848 | ||||
Avnet Inc. | 2,888,837 | 123,873 | ||||
* | Novanta Inc. | 1,003,550 | 121,701 | |||
National Instruments Corp. | 3,874,803 | 121,010 | ||||
* | Cirrus Logic Inc. | 1,662,104 | 120,569 | |||
* | SPS Commerce Inc. | 1,064,370 | 120,327 | |||
TD SYNNEX Corp. | 1,282,276 | 116,815 | ||||
* | Smartsheet Inc. Class A | 3,600,814 | 113,174 | |||
* | NCR Corp. | 3,617,349 | 112,536 | |||
* | Rapid7 Inc. | 1,638,209 | 109,432 | |||
* | Teradata Corp. | 2,927,016 | 108,329 | |||
* | Dun & Bradstreet Holdings Inc. | 7,057,784 | 106,079 | |||
* | Blackline Inc. | 1,576,532 | 104,997 | |||
* | Semtech Corp. | 1,871,636 | 102,884 | |||
* | Onto Innovation Inc. | 1,469,945 | 102,514 | |||
* | Box Inc. Class A | 4,008,483 | 100,773 | |||
* | Ziff Davis Inc. | 1,333,341 | 99,374 | |||
* | Nutanix Inc. Class A | 6,489,816 | 94,946 | |||
* | Varonis Systems Inc. | 3,222,749 | 94,491 | |||
* | Perficient Inc. | 1,019,961 | 93,520 | |||
* | IPG Photonics Corp. | 993,076 | 93,478 | |||
* | Toast Inc. Class A | 7,082,172 | 91,643 |
Shares | Market Value• ($000) | |||||
* | Procore Technologies Inc. | 2,010,034 | 91,235 | |||
* | Blackbaud Inc. | 1,567,679 | 91,035 | |||
* | Insight Enterprises Inc. | 1,037,305 | 89,499 | |||
* | FormFactor Inc. | 2,304,994 | 89,272 | |||
* | Fabrinet | 1,085,168 | 88,007 | |||
* | Alarm.com Holdings Inc. | 1,404,957 | 86,911 | |||
* | Envestnet Inc. | 1,621,854 | 85,585 | |||
* | Workiva Inc. Class A | 1,275,613 | 84,178 | |||
* | Diodes Inc. | 1,271,223 | 82,083 | |||
* | Alteryx Inc. Class A | 1,693,281 | 81,989 | |||
Advanced Energy Industries Inc. | 1,108,757 | 80,917 | ||||
* | Verint Systems Inc. | 1,909,123 | 80,851 | |||
* | New Relic Inc. | 1,578,378 | 78,998 | |||
* | CommVault Systems Inc. | 1,250,485 | 78,656 | |||
* | Altair Engineering Inc. Class A | 1,472,086 | 77,285 | |||
Vertiv Holdings Co. Class A | 8,856,302 | 72,799 | ||||
* | Upwork Inc. | 3,460,937 | 71,572 | |||
* | DigitalOcean Holdings Inc. | 1,716,765 | 71,005 | |||
* | SiTime Corp. | 433,472 | 70,669 | |||
* | NetScout Systems Inc. | 2,077,632 | 70,328 | |||
* | Rambus Inc. | 3,260,418 | 70,066 | |||
* | Bumble Inc. Class A | 2,487,737 | 70,030 | |||
* | MaxLinear Inc. Class A | 2,053,434 | 69,776 | |||
* | Sanmina Corp. | 1,710,223 | 69,657 | |||
* | Ambarella Inc. | 1,063,873 | 69,641 | |||
Vishay Intertechnology Inc. | 3,900,106 | 69,500 | ||||
* | Confluent Inc. Class A | 2,962,133 | 68,840 | |||
* | MACOM Technology Solutions Holdings Inc. | 1,442,187 | 66,485 | |||
* | Covetrus Inc. | 3,094,130 | 64,203 | |||
* | Sprout Social Inc. Class A | 1,093,126 | 63,478 | |||
* | Q2 Holdings Inc. | 1,616,602 | 62,352 | |||
* | Cargurus Inc. Class A | 2,877,697 | 61,842 | |||
* | Plexus Corp. | 778,361 | 61,101 | |||
*,1 | nCino Inc. | 1,964,661 | 60,747 | |||
Progress Software Corp. | 1,297,084 | 58,758 | ||||
* | Kyndryl Holdings Inc. | 5,948,193 | 58,173 | |||
Pegasystems Inc. | 1,205,807 | 57,686 | ||||
*,1 | E2open Parent Holdings Inc. | 7,114,974 | 55,355 |
Shares | Market Value• ($000) | |||||
Amkor Technology Inc. | 3,253,287 | 55,143 | ||||
* | Yelp Inc. Class A | 1,983,592 | 55,084 | |||
* | PagerDuty Inc. | 2,196,159 | 54,421 | |||
CSG Systems International Inc. | 909,896 | 54,303 | ||||
* | Appian Corp. | 1,141,918 | 54,081 | |||
* | Super Micro Computer Inc. | 1,298,264 | 52,385 | |||
* | TechTarget Inc. | 782,762 | 51,443 | |||
* | Axcelis Technologies Inc. | 922,090 | 50,567 | |||
* | LiveRamp Holdings Inc. | 1,930,124 | 49,817 | |||
* | Allscripts Healthcare Solutions Inc. | 3,246,526 | 48,146 | |||
* | Appfolio Inc. Class A | 531,026 | 48,132 | |||
* | Jamf Holding Corp. | 1,941,500 | 48,091 | |||
Xerox Holdings Corp. | 3,203,042 | 47,565 | ||||
*,1 | MicroStrategy Inc. Class A | 274,890 | 45,164 | |||
* | Digital Turbine Inc. | 2,564,320 | 44,799 | |||
*,1 | Clear Secure Inc. Class A | 2,192,782 | 43,856 | |||
* | Parsons Corp. | 1,078,903 | 43,609 | |||
* | DoubleVerify Holdings Inc. | 1,919,917 | 43,525 | |||
* | Gitlab Inc. Class A | 814,676 | 43,292 | |||
* | ePlus Inc. | 799,053 | 42,446 | |||
Xperi Holding Corp. | 2,918,910 | 42,120 | ||||
* | CCC Intelligent Solutions Holdings Inc. | 4,528,696 | 41,664 | |||
* | Schrodinger Inc. | 1,572,045 | 41,518 | |||
* | Allegro MicroSystems Inc. | 1,977,880 | 40,922 | |||
* | JFrog Ltd. | 1,885,547 | 39,728 | |||
Shutterstock Inc. | 691,852 | 39,650 | ||||
*,1 | Freshworks Inc. Class A | 2,963,225 | 38,966 | |||
*,1 | C3.ai Inc. Class A | 2,128,091 | 38,859 | |||
Methode Electronics Inc. | 1,044,914 | 38,704 | ||||
* | Cohu Inc. | 1,372,448 | 38,085 | |||
* | Ultra Clean Holdings Inc. | 1,277,702 | 38,037 | |||
* | Fastly Inc. Class A | 3,197,776 | 37,126 | |||
* | Ping Identity Holding Corp. | 2,001,695 | 36,311 | |||
* | 3D Systems Corp. | 3,640,600 | 35,314 | |||
*,1 | Asana Inc. Class A | 1,999,297 | 35,148 | |||
* | Qualtrics International Inc. Class A | 2,803,580 | 35,073 | |||
* | Impinj Inc. | 596,889 | 35,019 | |||
* | KnowBe4 Inc. Class A | 2,209,527 | 34,513 |
Shares | Market Value• ($000) | |||||
* | TTM Technologies Inc. | 2,685,890 | 33,574 | |||
*,1 | Paycor HCM Inc. | 1,288,899 | 33,511 | |||
* | Photronics Inc. | 1,719,468 | 33,495 | |||
* | Magnite Inc. | 3,673,828 | 32,624 | |||
*,1 | Braze Inc. Class A | 899,891 | 32,603 | |||
* | Everbridge Inc. | 1,160,682 | 32,371 | |||
* | Duck Creek Technologies Inc. | 2,171,999 | 32,254 | |||
*,1 | Thoughtworks Holding Inc. | 2,277,553 | 32,136 | |||
* | PROS Holdings Inc. | 1,222,366 | 32,063 | |||
* | Zuora Inc. Class A | 3,565,636 | 31,912 | |||
* | Momentive Global Inc. | 3,544,786 | 31,194 | |||
*,1 | Squarespace Inc. Class A | 1,479,555 | 30,952 | |||
CTS Corp. | 893,653 | 30,429 | ||||
* | LivePerson Inc. | 2,080,365 | 29,416 | |||
*,1 | PAR Technology Corp. | 768,043 | 28,794 | |||
*,1 | Xometry Inc. Class A | 846,590 | 28,725 | |||
* | Veeco Instruments Inc. | 1,438,679 | 27,910 | |||
* | Cerence Inc. | 1,099,198 | 27,733 | |||
* | Agilysys Inc. | 584,756 | 27,641 | |||
A10 Networks Inc. | 1,890,715 | 27,188 | ||||
* | Model N Inc. | 1,025,934 | 26,243 | |||
* | BigCommerce Holdings Inc. | 1,598,218 | 25,891 | |||
* | Avid Technology Inc. | 989,439 | 25,676 | |||
*,1 | Olo Inc. Class A | 2,543,987 | 25,109 | |||
*,1 | Matterport Inc. | 6,631,980 | 24,273 | |||
* | Eventbrite Inc. Class A | 2,359,900 | 24,236 | |||
* | NeoPhotonics Corp. | 1,510,454 | 23,759 | |||
* | Domo Inc. Class B | 851,505 | 23,672 | |||
* | Vimeo Inc. | 3,899,740 | 23,476 | |||
Simulations Plus Inc. | 475,505 | 23,457 | ||||
* | SMART Global Holdings Inc. | 1,409,472 | 23,073 | |||
* | Consensus Cloud Solutions Inc. | 527,795 | 23,054 | |||
*,1 | Sprinklr Inc. Class A | 2,253,792 | 22,786 | |||
* | Unisys Corp. | 1,893,140 | 22,774 | |||
* | ScanSource Inc. | 729,003 | 22,701 | |||
Benchmark Electronics Inc. | 998,405 | 22,524 | ||||
* | Ichor Holdings Ltd. | 841,111 | 21,852 | |||
* | Informatica Inc. Class A | 1,044,700 | 21,698 | |||
* | CEVA Inc. | 645,444 | 21,661 | |||
* | Grid Dynamics Holdings Inc. | 1,284,205 | 21,600 | |||
* | Sumo Logic Inc. | 2,880,824 | 21,577 | |||
* | Alpha & Omega Semiconductor Ltd. | 643,290 | 21,447 |
Shares | Market Value• ($000) | |||||
* | ACM Research Inc. Class A | 1,180,335 | 19,865 | |||
*,1 | Definitive Healthcare Corp. Class A | 862,655 | 19,781 | |||
* | PDF Solutions Inc. | 917,193 | 19,729 | |||
* | PubMatic Inc. Class A | 1,239,766 | 19,700 | |||
*,1 | MicroVision Inc. | 4,946,023 | 18,993 | |||
*,1 | Amplitude Inc. Class A | 1,320,075 | 18,864 | |||
*,1 | IonQ Inc. | 4,077,322 | 17,859 | |||
* | N-able Inc. | 1,847,475 | 16,627 | |||
* | Yext Inc. | 3,472,823 | 16,600 | |||
*,1 | AvePoint Inc. | 3,738,637 | 16,226 | |||
*,1 | Expensify Inc. Class A | 900,782 | 16,025 | |||
*,1 | Zeta Global Holdings Corp. Class A | 3,465,672 | 15,665 | |||
PC Connection Inc. | 342,772 | 15,099 | ||||
Hackett Group Inc. | 781,605 | 14,827 | ||||
*,1 | ForgeRock Inc. Class A | 690,411 | 14,789 | |||
* | Alkami Technology Inc. | 1,064,651 | 14,788 | |||
*,1 | HashiCorp Inc. Class A | 497,000 | 14,632 | |||
American Software Inc. Class A | 896,586 | 14,489 | ||||
* | Kimball Electronics Inc. | 681,124 | 13,691 | |||
*,1 | Rackspace Technology Inc. | 1,858,887 | 13,328 | |||
*,1 | SmartRent Inc. Class A | 2,873,494 | 12,988 | |||
* | nLight Inc. | 1,254,482 | 12,821 | |||
*,1 | Samsara Inc. Class A | 1,133,300 | 12,659 | |||
*,1 | UserTesting Inc. | 2,520,465 | 12,653 | |||
* | OneSpan Inc. | 1,054,580 | 12,550 | |||
SolarWinds Corp. | 1,220,652 | 12,512 | ||||
* | ChannelAdvisor Corp. | 852,833 | 12,434 | |||
1 | Ebix Inc. | 733,193 | 12,391 | |||
*,1 | Blend Labs Inc. Class A | 5,185,785 | 12,238 | |||
*,1 | Cyxtera Technologies Inc. | 1,051,306 | 11,922 | |||
*,1 | indie Semiconductor Inc. Class A | 2,059,378 | 11,738 | |||
*,1 | Couchbase Inc. | 712,816 | 11,704 | |||
* | Mitek Systems Inc. | 1,254,254 | 11,589 | |||
*,1 | Tucows Inc. Class A | 259,269 | 11,540 | |||
*,1 | EngageSmart Inc. | 717,478 | 11,537 | |||
* | Upland Software Inc. | 781,656 | 11,350 | |||
* | Bandwidth Inc. Class A | 600,402 | 11,300 | |||
* | Telos Corp. | 1,372,473 | 11,090 |
Shares | Market Value• ($000) | |||||
*,1 | Aeva Technologies Inc. | 3,506,640 | 10,976 | |||
*,1 | SEMrush Holdings Inc. Class A | 822,251 | 10,632 | |||
* | ON24 Inc. | 1,069,030 | 10,145 | |||
* | Vertex Inc. Class A | 882,712 | 10,001 | |||
*,1 | Nextdoor Holdings Inc. | 2,923,476 | 9,677 | |||
* | GTY Technology Holdings Inc. | 1,455,833 | 9,114 | |||
* | Edgio Inc. | 3,619,157 | 8,360 | |||
* | Rimini Street Inc. | 1,358,208 | 8,163 | |||
*,1 | EverCommerce Inc. | 865,323 | 7,823 | |||
*,1 | MeridianLink Inc. | 461,628 | 7,709 | |||
*,3 | Asure Software Inc. | 1,298,125 | 7,399 | |||
*,1 | Credo Technology Group Holding Ltd. | 623,000 | 7,277 | |||
* | CyberOptics Corp. | 206,767 | 7,224 | |||
* | Brightcove Inc. | 1,108,617 | 7,006 | |||
* | Benefitfocus Inc. | 896,728 | 6,977 | |||
* | Identiv Inc. | 599,960 | 6,948 | |||
* | TrueCar Inc. | 2,670,121 | 6,916 | |||
NVE Corp. | 145,801 | 6,797 | ||||
* | AXT Inc. | 1,158,144 | 6,787 | |||
*,1 | WM Technology Inc. | 2,029,022 | 6,675 | |||
* | Intapp Inc. | 453,545 | 6,640 | |||
* | MediaAlpha Inc. Class A | 664,368 | 6,544 | |||
*,1 | Digimarc Corp. | 459,882 | 6,503 | |||
*,1 | Groupon Inc. | 574,821 | 6,495 | |||
* | eGain Corp. | 657,552 | 6,411 | |||
*,1 | NerdWallet Inc. Class A | 778,876 | 6,176 | |||
*,1 | Porch Group Inc. | 2,387,382 | 6,112 | |||
*,1 | Atomera Inc. | 650,154 | 6,098 | |||
*,1 | Veritone Inc. | 912,209 | 5,957 | |||
*,1 | Ouster Inc. | 3,370,627 | 5,460 | |||
*,1 | Red Violet Inc. | 279,113 | 5,314 | |||
1 | Vivid Seats Inc. Class A | 705,200 | 5,268 | |||
* | Avaya Holdings Corp. | 2,336,076 | 5,233 | |||
* | Computer Task Group Inc. | 609,679 | 5,219 | |||
* | Immersion Corp. | 963,156 | 5,143 | |||
* | Aehr Test Systems | 682,904 | 5,122 | |||
* | Diebold Nixdorf Inc. | 2,208,183 | 5,013 | |||
*,1 | Vroom Inc. | 3,812,440 | 4,766 | |||
* | comScore Inc. | 2,294,162 | 4,726 | |||
* | Planet Labs PBC | 1,069,100 | 4,629 | |||
* | EverQuote Inc. Class A | 518,854 | 4,587 | |||
Richardson Electronics Ltd. | 309,653 | 4,540 | ||||
*,1 | Skillz Inc. Class A | 3,538,218 | 4,387 | |||
*,1 | Cleanspark Inc. | 1,104,591 | 4,330 |
Shares | Market Value• ($000) | |||||
* | Innodata Inc. | 846,031 | 4,095 | |||
*,1 | Enfusion Inc. Class A | 394,747 | 4,030 | |||
*,1 | CoreCard Corp. | 163,539 | 3,992 | |||
*,1 | NextNav Inc. | 1,714,500 | 3,892 | |||
* | Daktronics Inc. | 1,236,889 | 3,723 | |||
*,1 | Smith Micro Software Inc. | 1,434,565 | 3,543 | |||
*,1 | Beachbody Co. Inc. | 2,768,838 | 3,323 | |||
* | Intevac Inc. | 685,231 | 3,317 | |||
*,1 | IronNet Inc. | 1,497,547 | 3,310 | |||
*,1 | Alpine 4 Holdings Inc. | 4,393,029 | 3,117 | |||
*,1 | 1stdibs.com Inc. | 541,124 | 3,079 | |||
*,1 | Transphorm Inc. | 793,700 | 3,024 | |||
*,1 | Phunware Inc. | 2,796,147 | 3,020 | |||
* | EMCORE Corp. | 959,683 | 2,946 | |||
*,1 | KULR Technology Group Inc. | 1,895,666 | 2,938 | |||
* | Quantum Corp. | 2,068,619 | 2,937 | |||
* | AstroNova Inc. | 243,410 | 2,916 | |||
* | SecureWorks Corp. Class A | 263,152 | 2,858 | |||
* | QuickLogic Corp. | 317,339 | 2,691 | |||
* | Everspin Technologies Inc. | 503,798 | 2,640 | |||
* | Pixelworks Inc. | 1,380,829 | 2,637 | |||
* | Weave Communications Inc. | 862,644 | 2,622 | |||
*,1 | Kopin Corp. | 2,313,242 | 2,591 | |||
*,1 | VirnetX Holding Corp. | 2,158,195 | 2,525 | |||
*,1 | Arteris Inc. | 330,165 | 2,301 | |||
* | Issuer Direct Corp. | 88,197 | 2,246 | |||
*,1 | Park City Group Inc. | 502,970 | 2,213 | |||
*,1 | KORE Group Holdings Inc. | 719,616 | 2,209 | |||
* | Loyalty Ventures Inc. | 590,671 | 2,109 | |||
* | Terawulf Inc. | 1,732,783 | 2,079 | |||
* | inTEST Corp. | 301,891 | 2,059 | |||
* | Amtech Systems Inc. | 268,244 | 1,958 | |||
* | Viant Technology Inc. Class A | 358,428 | 1,821 | |||
*,1 | Backblaze Inc. Class A | 343,197 | 1,795 | |||
*,1 | SkyWater Technology Inc. | 296,973 | 1,788 | |||
* | Mastech Digital Inc. | 119,793 | 1,780 | |||
* | Steel Connect Inc. | 1,313,081 | 1,760 | |||
* | Synchronoss Technologies Inc. | 1,517,620 | 1,745 | |||
*,1 | Cipher Mining Inc. | 1,253,825 | 1,718 | |||
*,1 | Verb Technology Co. Inc. | 3,198,586 | 1,669 | |||
* | GSI Technology Inc. | 460,392 | 1,588 | |||
*,1 | Exela Technologies Inc. | 12,439,896 | 1,423 |
Shares | Market Value• ($000) | |||||
* | Research Frontiers Inc. | 799,655 | 1,391 | |||
*,1 | Quantum Computing Inc. | 576,947 | 1,373 | |||
*,1 | Nuvve Holding Corp. | 290,743 | 1,361 | |||
* | One Stop Systems Inc. | 325,113 | 1,281 | |||
* | Inuvo Inc. | 2,536,959 | 1,256 | |||
*,1 | eMagin Corp. | 1,850,738 | 1,203 | |||
* | Key Tronic Corp. | 270,500 | 1,193 | |||
* | LiveVox Holdings Inc. | 717,689 | 1,191 | |||
* | CSP Inc. | 129,793 | 1,181 | |||
* | Zedge Inc. Class B | 407,694 | 1,174 | |||
*,1 | BuzzFeed Inc. | 740,107 | 1,140 | |||
* | Streamline Health Solutions Inc. | 895,999 | 1,138 | |||
* | Aware Inc. | 478,176 | 1,138 | |||
*,1 | Ipsidy Inc. | 569,849 | 1,106 | |||
* | Intellicheck Inc. | 522,431 | 1,055 | |||
*,1 | Boxlight Corp. Class A | 1,524,589 | 1,037 | |||
* | NetSol Technologies Inc. | 324,880 | 1,035 | |||
*,1 | Intrusion Inc. | 257,983 | 1,009 | |||
* | TransAct Technologies Inc. | 247,478 | 1,000 | |||
* | AudioEye Inc. | 162,397 | 976 | |||
*,1 | NextPlay Technologies Inc. | 2,778,238 | 971 | |||
* | OMNIQ Corp. | 175,600 | 966 | |||
*,1 | Soluna Holdings Inc. | 227,288 | 925 | |||
*,1 | Remark Holdings Inc. | 1,733,422 | 764 | |||
*,1 | Greenidge Generation Holdings Inc. | 294,977 | 749 | |||
* | Peraso Inc. | 368,905 | 708 | |||
*,1 | SeaChange International Inc. | 1,152,825 | 696 | |||
* | SigmaTron International Inc. | 98,274 | 694 | |||
* | GSE Systems Inc. | 541,861 | 677 | |||
*,1 | Flux Power Holdings Inc. | 280,974 | 674 | |||
* | Rubicon Technology Inc. | 72,664 | 668 | |||
*,1 | Inpixon | 3,857,401 | 656 | |||
* | CVD Equipment Corp. | 165,470 | 654 | |||
*,1 | DecisionPoint Systems Inc. | 160,700 | 643 | |||
* | Crown ElectroKinetics Corp. | 638,989 | 582 | |||
* | Data I/O Corp. | 180,859 | 555 | |||
* | WidePoint Corp. | 231,461 | 553 | |||
* | CYNGN Inc. | 479,651 | 552 |
Shares | Market Value• ($000) | |||||
* | Super League Gaming Inc. | 487,161 | 497 | |||
*,1 | Glimpse Group Inc. | 118,109 | 470 | |||
* | Trio-Tech International | 104,880 | 454 | |||
* | RealNetworks Inc. | 675,168 | 426 | |||
*,1 | Creatd Inc. | 554,557 | 410 | |||
*,1 | Waitr Holdings Inc. | 2,622,672 | 400 | |||
* | BSQUARE Corp. | 304,286 | 383 | |||
* | BTCS Inc. | 249,293 | 371 | |||
* | Qumu Corp. | 450,282 | 362 | |||
*,1 | iPower Inc. | 309,711 | 328 | |||
* | Duos Technologies Group Inc. | 73,218 | 280 | |||
* | PetVivo Holdings Inc. | 173,200 | 274 | |||
SilverSun Technologies Inc. | 99,500 | 270 | ||||
* | Bridgeline Digital Inc. | 200,736 | 241 | |||
*,1 | LogicMark Inc. | 195,563 | 213 | |||
* | Alfi Inc. | 181,838 | 211 | |||
* | Kubient Inc. | 318,146 | 210 | |||
*,1 | American Virtual Cloud Technologies Inc. | 775,634 | 194 | |||
* | CynergisTek Inc. | 158,445 | 190 | |||
*,1 | VerifyMe Inc. | 84,041 | 165 | |||
* | WiSA Technologies Inc. | 242,859 | 151 | |||
* | Recruiter.com Group Inc. | 147,281 | 150 | |||
*,1 | Akerna Corp. | 510,481 | 71 | |||
* | Nortech Systems Inc. | 5,000 | 70 | |||
* | Sigma Labs Inc. | 54,433 | 70 | |||
* | Creative Realities Inc. | 104,180 | 64 | |||
*,1 | Data Storage Corp. | 24,445 | 60 | |||
*,1 | Paltalk Inc. | 28,954 | 58 | |||
* | T Stamp Inc. Class A | 17,276 | 29 | |||
* | WaveDancer Inc. | 17,693 | 24 | |||
* | Oblong Inc. | 52,533 | 16 | |||
*,2 | Ikonics Corp. CVR | 7,226 | — | |||
284,440,686 | ||||||
Telecommunications (2.6%) | ||||||
Verizon Communications Inc. | 117,617,766 | 5,969,102 | ||||
Comcast Corp. Class A | 131,799,828 | 5,171,825 | ||||
Cisco Systems Inc. | 109,879,078 | 4,685,244 | ||||
AT&T Inc. | 211,099,158 | 4,424,638 | ||||
* | T-Mobile US Inc. | 18,485,029 | 2,486,976 | |||
* | Charter Communications Inc. Class A | 2,369,708 | 1,110,279 | |||
Motorola Solutions Inc. | 4,934,251 | 1,034,219 | ||||
* | Arista Networks Inc. | 6,823,906 | 639,673 |
Shares | Market Value• ($000) | |||||
* | Liberty Broadband Corp. Class C | 3,946,794 | 456,407 | |||
1 | Lumen Technologies Inc. | 30,444,125 | 332,145 | |||
* | Roku Inc. | 3,536,578 | 290,495 | |||
Juniper Networks Inc. | 9,527,644 | 271,538 | ||||
Cable One Inc. | 176,693 | 227,814 | ||||
* | Ciena Corp. | 4,494,820 | 205,413 | |||
* | Frontier Communications Parent Inc. | 7,230,835 | 170,214 | |||
* | Lumentum Holdings Inc. | 1,930,374 | 153,310 | |||
* | Vonage Holdings Corp. | 7,567,071 | 142,564 | |||
* | DISH Network Corp. Class A | 7,291,230 | 130,732 | |||
* | Iridium Communications Inc. | 3,395,705 | 127,543 | |||
* | Viavi Solutions Inc. | 6,725,172 | 88,974 | |||
Cogent Communications Holdings Inc. | 1,278,665 | 77,692 | ||||
* | Viasat Inc. | 2,092,274 | 64,086 | |||
* | Altice USA Inc. Class A | 6,376,883 | 58,986 | |||
InterDigital Inc. | 909,582 | 55,303 | ||||
* | Calix Inc. | 1,619,341 | 55,284 | |||
* | Liberty Broadband Corp. Class A | 475,097 | 53,947 | |||
* | Plantronics Inc. | 1,205,506 | 47,834 | |||
Telephone & Data Systems Inc. | 3,016,385 | 47,629 | ||||
* | CommScope Holding Co. Inc. | 5,797,855 | 35,483 | |||
* | Extreme Networks Inc. | 3,895,244 | 34,746 | |||
Shenandoah Telecommunications Co. | 1,394,945 | 30,968 | ||||
* | Gogo Inc. | 1,882,354 | 30,475 | |||
* | Infinera Corp. | 5,371,267 | 28,790 | |||
* | WideOpenWest Inc. | 1,564,045 | 28,481 | |||
* | Harmonic Inc. | 3,069,536 | 26,613 | |||
*,1 | Globalstar Inc. | 21,149,983 | 26,014 | |||
ADTRAN Inc. | 1,358,765 | 23,819 | ||||
* | Digi International Inc. | 978,389 | 23,697 | |||
*,1 | Lightwave Logic Inc. | 3,281,171 | 21,459 | |||
* | Clearfield Inc. | 341,492 | 21,155 | |||
* | EchoStar Corp. Class A | 1,045,724 | 20,182 | |||
* | 8x8 Inc. | 3,351,019 | 17,258 | |||
* | IDT Corp. Class B | 616,660 | 15,509 | |||
* | Consolidated Communications Holdings Inc. | 2,207,355 | 15,451 |
Shares | Market Value• ($000) | |||||
ATN International Inc. | 324,753 | 15,234 | ||||
* | NETGEAR Inc. | 801,807 | 14,849 | |||
* | Anterix Inc. | 357,668 | 14,689 | |||
*,1 | Charge Enterprises Inc. | 2,837,200 | 13,533 | |||
* | United States Cellular Corp. | 461,155 | 13,355 | |||
*,1 | fuboTV Inc. | 4,912,100 | 12,133 | |||
* | DZS Inc. | 527,247 | 8,578 | |||
* | Ooma Inc. | 658,499 | 7,797 | |||
*,1 | AST SpaceMobile Inc. | 1,224,952 | 7,693 | |||
* | Aviat Networks Inc. | 301,106 | 7,540 | |||
* | Ribbon Communications Inc. | 2,219,851 | 6,748 | |||
Comtech Telecommunications Corp. | 719,972 | 6,530 | ||||
*,1 | Akoustis Technologies Inc. | 1,586,053 | 5,868 | |||
Bel Fuse Inc. Class B | 356,153 | 5,542 | ||||
*,1 | Inseego Corp. | 2,870,125 | 5,425 | |||
* | Cambium Networks Corp. | 315,800 | 4,626 | |||
* | CalAmp Corp. | 1,045,712 | 4,361 | |||
* | Lantronix Inc. | 761,168 | 4,095 | |||
* | Hemisphere Media Group Inc. Class A | 525,973 | 4,013 | |||
* | KVH Industries Inc. | 433,378 | 3,770 | |||
*,1 | Casa Systems Inc. | 911,548 | 3,582 | |||
* | Genasys Inc. | 1,017,703 | 3,308 | |||
Spok Holdings Inc. | 464,693 | 2,928 | ||||
*,1 | Kaltura Inc. | 1,323,947 | 2,635 | |||
* | Airgain Inc. | 309,957 | 2,517 | |||
* | Powerfleet Inc. | 970,791 | 2,107 | |||
* | PCTEL Inc. | 460,492 | 1,883 | |||
*,1 | SurgePays Inc. | 290,433 | 1,403 | |||
*,1 | Applied Optoelectronics Inc. | 856,472 | 1,328 | |||
Network-1 Technologies Inc. | 509,201 | 1,222 | ||||
*,1 | Airspan Networks Holdings Inc. | 376,375 | 1,125 | |||
Crexendo Inc. | 356,406 | 1,105 | ||||
* | TESSCO Technologies Inc. | 134,755 | 796 | |||
* | Franklin Wireless Corp. | 244,162 | 789 | |||
*,1 | Vislink Technologies Inc. | 1,128,955 | 672 | |||
* | Minim Inc. | 833,030 | 335 | |||
* | Optical Cable Corp. | 92,325 | 333 | |||
*,1 | ComSovereign Holding Corp. | 1,192,821 | 202 | |||
*,1,2 | FTE Networks Inc. | 84,180 | 126 | |||
* | ClearOne Inc. | 231,050 | 125 |
Shares | Market Value• ($000) | |||||
Bel Fuse Inc. Class A | 2,976 | 65 | ||||
* | ADDvantage Technologies Group Inc. | 47,738 | 60 | |||
29,174,991 | ||||||
Utilities (3.4%) | ||||||
NextEra Energy Inc. | 57,926,337 | 4,486,974 | ||||
Duke Energy Corp. | 22,688,095 | 2,432,391 | ||||
Southern Co. | 31,315,842 | 2,233,133 | ||||
Dominion Energy Inc. | 23,897,699 | 1,907,275 | ||||
Waste Management Inc. | 12,239,186 | 1,872,351 | ||||
American Electric Power Co. Inc. | 15,128,607 | 1,451,439 | ||||
Sempra Energy | 9,266,337 | 1,392,452 | ||||
Exelon Corp. | 28,887,099 | 1,309,163 | ||||
Xcel Energy Inc. | 16,047,613 | 1,135,529 | ||||
Consolidated Edison Inc. | 10,448,459 | 993,648 | ||||
Waste Connections Inc. | 7,582,298 | 939,902 | ||||
WEC Energy Group Inc. | 9,306,968 | 936,653 | ||||
Public Service Enterprise Group Inc. | 14,721,811 | 931,596 | ||||
Eversource Energy | 10,176,391 | 859,600 | ||||
American Water Works Co. Inc. | 5,358,671 | 797,209 | ||||
Republic Services Inc. | 6,054,313 | 792,328 | ||||
Edison International | 11,245,143 | 711,143 | ||||
Ameren Corp. | 7,592,254 | 686,036 | ||||
Entergy Corp. | 6,000,441 | 675,890 | ||||
* | PG&E Corp. | 61,832,922 | 617,093 | |||
DTE Energy Co. | 4,851,335 | 614,907 | ||||
FirstEnergy Corp. | 15,991,195 | 613,902 | ||||
PPL Corp. | 21,692,095 | 588,506 | ||||
CMS Energy Corp. | 8,556,231 | 577,546 | ||||
Constellation Energy Corp. | 9,640,508 | 552,015 | ||||
CenterPoint Energy Inc. | 18,543,716 | 548,523 | ||||
Atmos Energy Corp. | 4,092,308 | 458,748 | ||||
Evergy Inc. | 6,764,100 | 441,357 | ||||
Alliant Energy Corp. | 7,396,253 | 433,494 | ||||
AES Corp. | 19,678,565 | 413,447 | ||||
NiSource Inc. | 11,943,639 | 352,218 | ||||
Essential Utilities Inc. | 6,942,305 | 318,305 | ||||
Vistra Corp. | 12,712,297 | 290,476 | ||||
NRG Energy Inc. | 7,002,553 | 267,287 | ||||
Pinnacle West Capital Corp. | 3,331,875 | 243,627 | ||||
UGI Corp. | 6,183,279 | 238,736 | ||||
OGE Energy Corp. | 5,892,107 | 227,200 | ||||
National Fuel Gas Co. | 2,693,626 | 177,914 |
Shares | Market Value• ($000) | |||||
Southwest Gas Holdings Inc. | 1,854,706 | 161,508 | ||||
IDACORP Inc. | 1,493,645 | 158,207 | ||||
Black Hills Corp. | 1,912,240 | 139,154 | ||||
* | Sunrun Inc. | 5,873,614 | 137,208 | |||
* | Clean Harbors Inc. | 1,527,357 | 133,903 | |||
ONE Gas Inc. | 1,605,222 | 130,328 | ||||
Portland General Electric Co. | 2,636,314 | 127,413 | ||||
New Jersey Resources Corp. | 2,851,159 | 126,962 | ||||
Hawaiian Electric Industries Inc. | 3,074,299 | 125,739 | ||||
South Jersey Industries Inc. | 3,591,172 | 122,603 | ||||
PNM Resources Inc. | 2,530,719 | 120,918 | ||||
* | Stericycle Inc. | 2,716,285 | 119,109 | |||
* | Evoqua Water Technologies Corp. | 3,584,172 | 116,521 | |||
* | Casella Waste Systems Inc. Class A | 1,500,082 | 109,026 | |||
Spire Inc. | 1,465,979 | 109,025 | ||||
Avangrid Inc. | 2,298,976 | 106,029 | ||||
Ormat Technologies Inc. | 1,327,809 | 104,034 | ||||
ALLETE Inc. | 1,669,162 | 98,113 | ||||
NorthWestern Corp. | 1,596,999 | 94,111 | ||||
Avista Corp. | 2,155,242 | 93,775 | ||||
American States Water Co. | 1,093,704 | 89,148 | ||||
California Water Service Group | 1,590,576 | 88,356 | ||||
MGE Energy Inc. | 1,072,748 | 83,492 | ||||
Clearway Energy Inc. Class C | 2,242,438 | 78,126 | ||||
Chesapeake Utilities Corp. | 499,325 | 64,688 | ||||
Northwest Natural Holding Co. | 1,018,076 | 54,060 | ||||
* | Sunnova Energy International Inc. | 2,879,577 | 53,071 | |||
SJW Group | 821,143 | 51,247 | ||||
Middlesex Water Co. | 518,397 | 45,453 | ||||
Clearway Energy Inc. Class A | 1,214,668 | 38,833 | ||||
* | Archaea Energy Inc. Class A | 2,359,886 | 36,649 | |||
Unitil Corp. | 473,910 | 27,828 | ||||
York Water Co. | 411,498 | 16,637 | ||||
* | Harsco Corp. | 2,321,258 | 16,504 | |||
*,1 | Vertex Energy Inc. | 1,424,451 | 14,985 | |||
* | Heritage-Crystal Clean Inc. | 487,014 | 13,130 | |||
Artesian Resources Corp. Class A | 240,799 | 11,840 |
Shares | Market Value• ($000) | |||||
*,1 | Excelerate Energy Inc. Class A | �� 539,249 | 10,742 | |||
Aris Water Solution Inc. Class A | 616,458 | 10,282 | ||||
Genie Energy Ltd. Class B | 641,703 | 5,878 | ||||
* | Pure Cycle Corp. | 550,701 | 5,804 | |||
Global Water Resources Inc. | 433,686 | 5,729 | ||||
RGC Resources Inc. | 275,510 | 5,254 | ||||
*,1 | Altus Power Inc. | 696,600 | 4,396 | |||
*,1 | NuScale Power Corp. | 434,600 | 4,342 | |||
Via Renewables Inc. Class A | 335,374 | 2,569 | ||||
* | Advanced Emissions Solutions Inc. | 447,249 | 2,098 | |||
* | Perma-Fix Environmental Services Inc. | 325,244 | 1,688 | |||
*,1 | Charah Solutions Inc. | 431,762 | 1,615 | |||
* | Quest Resource Holding Corp. | 392,752 | 1,606 | |||
* | Sharps Compliance Corp. | 524,500 | 1,531 | |||
*,1 | Aqua Metals Inc. | 1,584,330 | 1,283 | |||
*,1 | Stronghold Digital Mining Inc. Class A | 597,997 | 993 | |||
*,1 | Cadiz Inc. | 298,465 | 695 | |||
37,804,251 | ||||||
Total Common Stocks (Cost $611,548,648) | 1,102,913,104 | |||||
Preferred Stocks (0.0%) | ||||||
1,4 | Meta Materials Inc. Pfd., 0.000% | 3,435,816 | 5,308 | |||
Air T Funding Pfd., 8.000%, 6/7/24 | 1,727 | 37 | ||||
Total Preferred Stocks (Cost $36) | 5,345 |
Shares | Market Value• ($000) | |||||
Temporary Cash Investments (1.1%) | ||||||
Money Market Fund (1.1%) | ||||||
5,6 | Vanguard Market Liquidity Fund, 1.417% (Cost $12,109,820) | 121,130,856 | 12,109,452 | |||
Total Investments (100.4%) (Cost $623,658,504) | 1,115,027,901 | |||||
Other Assets and Liabilities—Net (-0.4%) | (4,681,518) | |||||
Net Assets (100%) | 1,110,346,383 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $4,548,138,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Considered an affiliated company of the fund as the fund owns more than 5% of the outstanding voting securities of such company. |
4 | Perpetual security with no stated maturity date. |
5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
6 | Collateral of $5,110,848,000 was received for securities on loan. |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | September 2022 | 3,874 | 330,840 | (17,998) |
E-mini S&P 500 Index | September 2022 | 35,175 | 6,664,783 | (71,448) |
E-mini S&P Mid-Cap 400 Index | September 2022 | 240 | 54,432 | (3,148) |
(92,594) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
ACI Worldwide Inc. | 8/31/22 | BANA | 1,998 | (1.643) | — | (59) |
DXC Technology Co. | 8/31/22 | BANA | 6,136 | (1.967) | — | (77) |
Goldman Sachs Group Inc. | 8/31/23 | BANA | 142,180 | (1.822) | — | (12,305) |
Popular Inc. | 8/31/22 | BANA | 17,976 | (1.634) | — | (965) |
Signature Bank | 8/31/23 | BANA | 64,881 | (1.942) | — | (11,216) |
State Street Corp. | 8/31/23 | BANA | 186,662 | (1.803) | — | (26,706) |
VICI Properties Inc. | 8/31/22 | BANA | 36,020 | (2.127) | 1,648 | — |
VICI Properties Inc. | 8/31/22 | BANA | 104,510 | (2.119) | 966 | — |
Visa Inc. Class A | 8/31/22 | BANA | 47,738 | (1.136) | — | (3,394) |
2,614 | (54,722) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $611,539,860) | 1,102,911,050 |
Affiliated Issuers (Cost $12,118,644) | 12,116,851 |
Total Investments in Securities | 1,115,027,901 |
Investment in Vanguard | 43,355 |
Cash Collateral Pledged—Futures Contracts | 393,890 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 47,620 |
Receivables for Investment Securities Sold | 437,544 |
Receivables for Accrued Income | 899,614 |
Receivables for Capital Shares Issued | 1,645,241 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 2,614 |
Total Assets | 1,118,497,779 |
Liabilities | |
Due to Custodian | 377,038 |
Payables for Investment Securities Purchased | 1,837,096 |
Collateral for Securities on Loan | 5,110,848 |
Payables for Capital Shares Redeemed | 699,365 |
Payables for Distributions | 1 |
Payables to Vanguard | 13,357 |
Variation Margin Payable—Futures Contracts | 58,969 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 54,722 |
Total Liabilities | 8,151,396 |
Net Assets | 1,110,346,383 |
1 Includes $4,548,138 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2022, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 633,164,131 |
Total Distributable Earnings (Loss) | 477,182,252 |
Net Assets | 1,110,346,383 |
Investor Shares—Net Assets | |
Applicable to 201,413,512 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 18,480,197 |
Net Asset Value Per Share—Investor Shares | $91.75 |
ETF Shares—Net Assets | |
Applicable to 1,297,014,705 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 244,501,034 |
Net Asset Value Per Share—ETF Shares | $188.51 |
Admiral Shares—Net Assets | |
Applicable to 2,935,965,724 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 269,421,480 |
Net Asset Value Per Share—Admiral Shares | $91.77 |
Institutional Shares—Net Assets | |
Applicable to 714,483,641 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 65,575,204 |
Net Asset Value Per Share—Institutional Shares | $91.78 |
Institutional Plus Shares—Net Assets | |
Applicable to 2,734,702,386 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 470,696,509 |
Net Asset Value Per Share—Institutional Plus Shares | $172.12 |
Institutional Select Shares—Net Assets | |
Applicable to 230,732,788 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 41,671,959 |
Net Asset Value Per Share—Institutional Select Shares | $180.61 |
Six Months Ended June 30, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends—Unaffiliated Issuers1 | 8,697,624 |
Dividends—Affiliated Issuers | — |
Interest—Unaffiliated Issuers | 10 |
Interest—Affiliated Issuers | 14,038 |
Securities Lending—Net | 89,234 |
Total Income | 8,800,906 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 8,820 |
Management and Administrative—Investor Shares | 27,612 |
Management and Administrative—ETF Shares | 34,640 |
Management and Administrative—Admiral Shares | 53,645 |
Management and Administrative—Institutional Shares | 12,233 |
Management and Administrative—Institutional Plus Shares | 34,292 |
Management and Administrative—Institutional Select Shares | 1,857 |
Marketing and Distribution—Investor Shares | 1,508 |
Marketing and Distribution—ETF Shares | 3,641 |
Marketing and Distribution—Admiral Shares | 5,100 |
Marketing and Distribution—Institutional Shares | 1,968 |
Marketing and Distribution—Institutional Plus Shares | 5,958 |
Marketing and Distribution—Institutional Select Shares | 291 |
Custodian Fees | 1,168 |
Shareholders’ Reports—Investor Shares | 480 |
Shareholders’ Reports—ETF Shares | 1,192 |
Shareholders’ Reports—Admiral Shares | 535 |
Shareholders’ Reports—Institutional Shares | 1,189 |
Shareholders’ Reports—Institutional Plus Shares | 848 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 317 |
Other Expenses | 68 |
Total Expenses | 197,362 |
Expenses Paid Indirectly | (25) |
Net Expenses | 197,337 |
Net Investment Income | 8,603,569 |
Realized Net Gain (Loss) | |
Investment Securities Sold—Unaffiliated Issuers2 | (397,037) |
Investment Securities Sold—Affiliated Issuers | (1,799) |
Statement of Operations (continued) | |
Six Months Ended June 30, 2022 | |
($000) | |
Futures Contracts | (1,043,990) |
Swap Contracts | (59,169) |
Realized Net Gain (Loss) | (1,501,995) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities—Unaffiliated Issuers | (303,366,470) |
Investment Securities—Affiliated Issuers | (2,655) |
Futures Contracts | (193,642) |
Swap Contracts | (88,006) |
Change in Unrealized Appreciation (Depreciation) | (303,650,773) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (296,549,199) |
1 | Dividends are net of foreign withholding taxes of $644,000. |
2 | Includes $9,842,360,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 8,603,569 | 16,173,398 | |
Realized Net Gain (Loss) | (1,501,995) | 25,405,131 | |
Change in Unrealized Appreciation (Depreciation) | (303,650,773) | 238,495,999 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (296,549,199) | 280,074,528 | |
Distributions | |||
Investor Shares | (129,235) | (1,676,741) | |
ETF Shares | (1,870,034) | (3,403,927) | |
Admiral Shares | (2,058,027) | (4,103,816) | |
Institutional Shares | (508,333) | (2,969,898) | |
Institutional Plus Shares | (3,584,115) | (3,559,330) | |
Institutional Select Shares | (323,852) | (647,913) | |
Total Distributions | (8,473,596) | (16,361,625) | |
Capital Share Transactions | |||
Investor Shares | (103,928,345) | (51,574,306) | |
ETF Shares | 12,527,436 | 44,386,309 | |
Admiral Shares | 2,971,393 | 1,876,942 | |
Institutional Shares | (155,519,309) | 22,144,976 | |
Institutional Plus Shares | 285,505,129 | 14,016,596 | |
Institutional Select Shares | 400,022 | (1,862,868) | |
Net Increase (Decrease) from Capital Share Transactions | 41,956,326 | 28,987,649 | |
Total Increase (Decrease) | (263,066,469) | 292,700,552 | |
Net Assets | |||
Beginning of Period | 1,373,412,852 | 1,080,712,300 | |
End of Period | 1,110,346,383 | 1,373,412,852 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $117.53 | $94.71 | $79.66 | $62.08 | $66.70 | $56.06 |
Investment Operations | ||||||
Net Investment Income1 | .613 | 1.284 | 1.284 | 1.279 | 1.275 | 1.086 |
Capital Gain Distributions Received1 | — | .0002 | — | — | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | (25.748) | 22.837 | 15.026 | 17.634 | (4.703) | 10.630 |
Total from Investment Operations | (25.135) | 24.121 | 16.310 | 18.913 | (3.428) | 11.716 |
Distributions | ||||||
Dividends from Net Investment Income | (.645) | (1.301) | (1.260) | (1.333) | (1.192) | (1.076) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.645) | (1.301) | (1.260) | (1.333) | (1.192) | (1.076) |
Net Asset Value, End of Period | $91.75 | $117.53 | $94.71 | $79.66 | $62.08 | $66.70 |
Total Return3 | -21.43% | 25.59% | 20.87% | 30.65% | -5.26% | 21.05% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $18,480 | $133,977 | $153,845 | $139,686 | $121,266 | $126,766 |
Ratio of Total Expenses to Average Net Assets | 0.14%4 | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% |
Ratio of Net Investment Income to Average Net Assets | 1.17% | 1.20% | 1.62% | 1.78% | 1.86% | 1.77% |
Portfolio Turnover Rate5 | 2% | 4% | 8% | 4% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Distribution was less than $.001 per share. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.14%. |
5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $241.49 | $194.61 | $163.70 | $127.56 | $137.06 | $115.21 |
Investment Operations | ||||||
Net Investment Income1 | 1.490 | 2.912 | 2.831 | 2.809 | 2.781 | 2.361 |
Capital Gain Distributions Received1 | — | .0002 | — | — | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | (53.013) | 46.898 | 30.848 | 36.236 | (9.676) | 21.832 |
Total from Investment Operations | (51.523) | 49.810 | 33.679 | 39.045 | (6.895) | 24.193 |
Distributions | ||||||
Dividends from Net Investment Income | (1.457) | (2.930) | (2.769) | (2.905) | (2.605) | (2.343) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.457) | (2.930) | (2.769) | (2.905) | (2.605) | (2.343) |
Net Asset Value, End of Period | $188.51 | $241.49 | $194.61 | $163.70 | $127.56 | $137.06 |
Total Return | -21.38% | 25.72% | 20.95% | 30.80% | -5.13% | 21.16% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $244,501 | $299,088 | $202,075 | $138,067 | $94,809 | $91,862 |
Ratio of Total Expenses to Average Net Assets | 0.03%3 | 0.03% | 0.03% | 0.03% | 0.03% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.43% | 1.31% | 1.73% | 1.89% | 1.97% | 1.87% |
Portfolio Turnover Rate4 | 2% | 4% | 8% | 4% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Distribution was less than $.001 per share. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.03%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $117.56 | $94.74 | $79.69 | $62.09 | $66.72 | $56.08 |
Investment Operations | ||||||
Net Investment Income1 | .720 | 1.402 | 1.364 | 1.360 | 1.344 | 1.148 |
Capital Gain Distributions Received1 | — | .0002 | — | — | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | (25.806) | 22.833 | 15.025 | 17.646 | (4.711) | 10.633 |
Total from Investment Operations | (25.086) | 24.235 | 16.389 | 19.006 | (3.367) | 11.781 |
Distributions | ||||||
Dividends from Net Investment Income | (.704) | (1.415) | (1.339) | (1.406) | (1.263) | (1.141) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.704) | (1.415) | (1.339) | (1.406) | (1.263) | (1.141) |
Net Asset Value, End of Period | $91.77 | $117.56 | $94.74 | $79.69 | $62.09 | $66.72 |
Total Return3 | -21.38% | 25.71% | 20.99% | 30.80% | -5.17% | 21.17% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $269,421 | $341,733 | $273,622 | $252,536 | $185,102 | $190,099 |
Ratio of Total Expenses to Average Net Assets | 0.04%4 | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.41% | 1.30% | 1.72% | 1.88% | 1.96% | 1.87% |
Portfolio Turnover Rate5 | 2% | 4% | 8% | 4% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Distribution was less than $.001 per share. |
3 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
5 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $117.58 | $94.75 | $79.70 | $62.10 | $66.73 | $56.09 |
Investment Operations | ||||||
Net Investment Income1 | .692 | 1.416 | 1.374 | 1.365 | 1.354 | 1.153 |
Capital Gain Distributions Received1 | — | .0002 | — | — | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | (25.782) | 22.841 | 15.024 | 17.649 | (4.715) | 10.630 |
Total from Investment Operations | (25.090) | 24.257 | 16.398 | 19.014 | (3.361) | 11.783 |
Distributions | ||||||
Dividends from Net Investment Income | (.710) | (1.427) | (1.348) | (1.414) | (1.269) | (1.143) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.710) | (1.427) | (1.348) | (1.414) | (1.269) | (1.143) |
Net Asset Value, End of Period | $91.78 | $117.58 | $94.75 | $79.70 | $62.10 | $66.73 |
Total Return | -21.39% | 25.73% | 21.00% | 30.81% | -5.16% | 21.17% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $65,575 | $249,282 | $180,586 | $152,716 | $115,115 | $113,557 |
Ratio of Total Expenses to Average Net Assets | 0.03%3 | 0.03% | 0.03% | 0.03% | 0.03% | 0.035% |
Ratio of Net Investment Income to Average Net Assets | 1.33% | 1.31% | 1.73% | 1.89% | 1.97% | 1.87% |
Portfolio Turnover Rate4 | 2% | 4% | 8% | 4% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Distribution was less than $.001 per share. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.03%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Plus Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $220.49 | $177.69 | $149.47 | $116.46 | $125.14 | $105.18 |
Investment Operations | ||||||
Net Investment Income1 | 1.396 | 2.672 | 2.591 | 2.575 | 2.555 | 2.182 |
Capital Gain Distributions Received1 | — | .0002 | — | — | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | (48.428) | 42.823 | 28.172 | 33.100 | (8.842) | 19.938 |
Total from Investment Operations | (47.032) | 45.495 | 30.763 | 35.675 | (6.287) | 22.120 |
Distributions | ||||||
Dividends from Net Investment Income | (1.338) | (2.695) | (2.543) | (2.665) | (2.393) | (2.160) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.338) | (2.695) | (2.543) | (2.665) | (2.393) | (2.160) |
Net Asset Value, End of Period | $172.12 | $220.49 | $177.69 | $149.47 | $116.46 | $125.14 |
Total Return | -21.38% | 25.74% | 21.02% | 30.82% | -5.15% | 21.19% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $470,697 | $296,554 | $226,288 | $188,188 | $135,641 | $126,130 |
Ratio of Total Expenses to Average Net Assets | 0.02%3 | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.47% | 1.32% | 1.74% | 1.90% | 1.98% | 1.89% |
Portfolio Turnover Rate4 | 2% | 4% | 8% | 4% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Distribution was less than $.001 per share. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.02%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Institutional Select Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2022 | Year Ended December 31, | ||||
2021 | 2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $231.36 | $186.45 | $156.83 | $122.20 | $131.31 | $110.37 |
Investment Operations | ||||||
Net Investment Income1 | 1.448 | 2.821 | 2.772 | 2.709 | 2.704 | 2.311 |
Capital Gain Distributions Received1 | — | .0002 | — | — | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | (50.788) | 44.937 | 29.532 | 34.731 | (9.290) | 20.908 |
Total from Investment Operations | (49.340) | 47.758 | 32.304 | 37.440 | (6.586) | 23.219 |
Distributions | ||||||
Dividends from Net Investment Income | (1.410) | (2.848) | (2.684) | (2.810) | (2.524) | (2.279) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.410) | (2.848) | (2.684) | (2.810) | (2.524) | (2.279) |
Net Asset Value, End of Period | $180.61 | $231.36 | $186.45 | $156.83 | $122.20 | $131.31 |
Total Return | -21.37% | 25.75% | 21.03% | 30.84% | -5.14% | 21.20% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $41,672 | $52,780 | $44,296 | $26,431 | $20,262 | $14,163 |
Ratio of Total Expenses to Average Net Assets | 0.01%3 | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
Ratio of Net Investment Income to Average Net Assets | 1.45% | 1.33% | 1.76% | 1.91% | 1.99% | 1.90% |
Portfolio Turnover Rate4 | 2% | 4% | 8% | 4% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Distribution was less than $.001 per share. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.01%. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 1,102,905,714 | 151 | 7,239 | 1,102,913,104 |
Preferred Stocks | 5,345 | — | — | 5,345 |
Temporary Cash Investments | 12,109,452 | — | — | 12,109,452 |
Total | 1,115,020,511 | 151 | 7,239 | 1,115,027,901 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 2,614 | — | 2,614 |
Liabilities | ||||
Futures Contracts1 | 92,594 | — | — | 92,594 |
Swap Contracts | — | 54,722 | — | 54,722 |
Total | 92,594 | 54,722 | — | 147,316 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Amount ($000) | |
Tax Cost | 625,810,110 |
Gross Unrealized Appreciation | 546,946,357 |
Gross Unrealized Depreciation | (57,873,268) |
Net Unrealized Appreciation (Depreciation) | 489,073,089 |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 3,807,296 | 35,379 | 496,590 | 4,799 | |
Issued in Lieu of Cash Distributions | 129,235 | 1,300 | 1,676,741 | 15,550 | |
Redeemed | (107,864,876) | (975,210) | (53,747,637) | (504,787) | |
Net Increase (Decrease)—Investor Shares | (103,928,345) | (938,531) | (51,574,306) | (484,438) | |
ETF Shares | |||||
Issued | 25,914,934 | 122,613 | 69,095,066 | 308,260 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (13,387,498) | (64,100) | (24,708,757) | (108,100) | |
Net Increase (Decrease)—ETF Shares | 12,527,436 | 58,513 | 44,386,309 | 200,160 | |
Admiral Shares | |||||
Issued | 18,385,152 | 175,157 | 37,025,893 | 347,554 | |
Issued in Lieu of Cash Distributions | 1,713,156 | 17,207 | 3,424,237 | 31,536 | |
Redeemed | (17,126,915) | (163,359) | (38,573,188) | (360,387) | |
Net Increase (Decrease)—Admiral Shares | 2,971,393 | 29,005 | 1,876,942 | 18,703 | |
Institutional Shares | |||||
Issued | 5,089,166 | 48,221 | 44,920,917 | 425,435 | |
Issued in Lieu of Cash Distributions | 416,444 | 4,179 | 2,799,517 | 25,726 | |
Redeemed | (161,024,919) | (1,458,108) | (25,575,458) | (236,871) | |
Net Increase (Decrease)—Institutional Shares | (155,519,309) | (1,405,708) | 22,144,976 | 214,290 | |
Institutional Plus Shares | |||||
Issued | 293,292,292 | 1,428,530 | 27,268,129 | 137,022 | |
Issued in Lieu of Cash Distributions | 3,554,411 | 19,055 | 3,498,917 | 17,171 | |
Redeemed | (11,341,574) | (57,849) | (16,750,450) | (82,739) | |
Net Increase (Decrease)—Institutional Plus Shares | 285,505,129 | 1,389,736 | 14,016,596 | 71,454 |
Six Months Ended June 30, 2022 | Year Ended December 31, 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Select Shares | |||||
Issued | 3,210,912 | 15,897 | 5,779,241 | 28,270 | |
Issued in Lieu of Cash Distributions | 323,852 | 1,651 | 647,913 | 3,034 | |
Redeemed | (3,134,742) | (14,943) | (8,290,022) | (40,759) | |
Net Increase (Decrease)—Institutional Select Shares | 400,022 | 2,605 | (1,862,868) | (9,455) |
Current Period Transactions | ||||||||
Dec. 31, 2021 Market Value ($000) | Purchases at Cost ($000) | Proceeds from Securities Sold ($000) | Realized Net Gain (Loss) ($000) | Change in Unrealized App. (Dep.) ($000) | Income ($000) | Capital Gain Distributions Received ($000) | Jun. 30, 2022 Market Value ($000) | |
Asure Software Inc. | NA1 | 4,124 | 1,412 | (707) | (1,939) | — | — | 7,399 |
Vanguard Market Liquidity Fund | 8,612,238 | NA2 | NA2 | (1,092) | (716) | 14,038 | — | 12,109,452 |
Total | 8,612,238 | 4,124 | 1,412 | (1,799) | (2,655) | 14,038 | — | 12,116,851 |
1 | Not applicable—at December 31, 2021, the issuer was not an affiliated company of the fund. |
2 | Not applicable—purchases and sales are for temporary cash investment purposes. |
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U.S. Patent No. 6,879,964.
Vanguard Marketing Corporation, Distributor.
Item 2: Code of Ethics.
Not applicable.
Item 3: Audit Committee Financial Expert.
Not applicable.
Item 4: Principal Accountant Fees and Services.
Not applicable.
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Investments.
Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no significant changes in the Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: Exhibits.
(a)(1) | Not applicable. | |
(a)(2) | Certifications filed herewith. | |
(b) | Certifications filed herewith. |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
VANGUARD INDEX FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: August 22, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
VANGUARD INDEX FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: August 22, 2022
VANGUARD INDEX FUNDS | ||
BY: | /s/ CHRISTINE BUCHANAN* | |
CHRISTINE BUCHANAN | ||
CHIEF FINANCIAL OFFICER |
Date: August 22, 2022
* By: | /s/ Anne E. Robinson |
Anne E. Robinson, pursuant to a Power of Attorney filed on November 29, 2021 (see File Number 33-64845), a Power of Attorney filed on October 12, 2021 (see File Number 33-23444), and a Power of Attorney filed on August 26, 2021 (see file Number 811-02652), Incorporated by Reference.