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: | John E. Schadl, 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, 2024—June 30, 2024
Item 1: Reports to Shareholders.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Investor Shares | $10 | 0.19%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $99,829% |
Number of Portfolio Holdings | $3,582% |
Portfolio Turnover Rate | $5% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Communication Services | 4.1% |
Consumer Discretionary | 11.2% |
Consumer Staples | 3.0% |
Energy | 4.9% |
Financials | 17.1% |
Health Care | 12.0% |
Industrials | 17.9% |
Information Technology | 17.6% |
Materials | 5.0% |
Real Estate | 5.4% |
Utilities | 1.5% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
ETF Shares | $3 | 0.06%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $99,829% |
Number of Portfolio Holdings | $3,582% |
Portfolio Turnover Rate | $5% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Communication Services | 4.1% |
Consumer Discretionary | 11.2% |
Consumer Staples | 3.0% |
Energy | 4.9% |
Financials | 17.1% |
Health Care | 12.0% |
Industrials | 17.9% |
Information Technology | 17.6% |
Materials | 5.0% |
Real Estate | 5.4% |
Utilities | 1.5% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Admiral Shares | $3 | 0.06%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $99,829% |
Number of Portfolio Holdings | $3,582% |
Portfolio Turnover Rate | $5% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Communication Services | 4.1% |
Consumer Discretionary | 11.2% |
Consumer Staples | 3.0% |
Energy | 4.9% |
Financials | 17.1% |
Health Care | 12.0% |
Industrials | 17.9% |
Information Technology | 17.6% |
Materials | 5.0% |
Real Estate | 5.4% |
Utilities | 1.5% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Shares | $3 | 0.05%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $99,829% |
Number of Portfolio Holdings | $3,582% |
Portfolio Turnover Rate | $5% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Communication Services | 4.1% |
Consumer Discretionary | 11.2% |
Consumer Staples | 3.0% |
Energy | 4.9% |
Financials | 17.1% |
Health Care | 12.0% |
Industrials | 17.9% |
Information Technology | 17.6% |
Materials | 5.0% |
Real Estate | 5.4% |
Utilities | 1.5% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Plus Shares | $2 | 0.04%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $99,829% |
Number of Portfolio Holdings | $3,582% |
Portfolio Turnover Rate | $5% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Communication Services | 4.1% |
Consumer Discretionary | 11.2% |
Consumer Staples | 3.0% |
Energy | 4.9% |
Financials | 17.1% |
Health Care | 12.0% |
Industrials | 17.9% |
Information Technology | 17.6% |
Materials | 5.0% |
Real Estate | 5.4% |
Utilities | 1.5% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Select Shares | $1 | 0.02%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $99,829% |
Number of Portfolio Holdings | $3,582% |
Portfolio Turnover Rate | $5% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Communication Services | 4.1% |
Consumer Discretionary | 11.2% |
Consumer Staples | 3.0% |
Energy | 4.9% |
Financials | 17.1% |
Health Care | 12.0% |
Industrials | 17.9% |
Information Technology | 17.6% |
Materials | 5.0% |
Real Estate | 5.4% |
Utilities | 1.5% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Investor Shares | $9 | 0.17%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $161,489% |
Number of Portfolio Holdings | $330% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 3.4% |
Consumer Discretionary | 12.3% |
Consumer Staples | 5.5% |
Energy | 5.1% |
Financials | 12.6% |
Health Care | 9.3% |
Industrials | 20.6% |
Real Estate | 7.5% |
Technology | 14.4% |
Telecommunications | 0.8% |
Utilities | 8.1% |
Other Assets and Liabilities—Net | 0.4% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
ETF Shares | $2 | 0.04%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $161,489% |
Number of Portfolio Holdings | $330% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 3.4% |
Consumer Discretionary | 12.3% |
Consumer Staples | 5.5% |
Energy | 5.1% |
Financials | 12.6% |
Health Care | 9.3% |
Industrials | 20.6% |
Real Estate | 7.5% |
Technology | 14.4% |
Telecommunications | 0.8% |
Utilities | 8.1% |
Other Assets and Liabilities—Net | 0.4% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Admiral Shares | $3 | 0.05%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $161,489% |
Number of Portfolio Holdings | $330% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 3.4% |
Consumer Discretionary | 12.3% |
Consumer Staples | 5.5% |
Energy | 5.1% |
Financials | 12.6% |
Health Care | 9.3% |
Industrials | 20.6% |
Real Estate | 7.5% |
Technology | 14.4% |
Telecommunications | 0.8% |
Utilities | 8.1% |
Other Assets and Liabilities—Net | 0.4% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Shares | $2 | 0.04%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $161,489% |
Number of Portfolio Holdings | $330% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 3.4% |
Consumer Discretionary | 12.3% |
Consumer Staples | 5.5% |
Energy | 5.1% |
Financials | 12.6% |
Health Care | 9.3% |
Industrials | 20.6% |
Real Estate | 7.5% |
Technology | 14.4% |
Telecommunications | 0.8% |
Utilities | 8.1% |
Other Assets and Liabilities—Net | 0.4% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Plus Shares | $2 | 0.03%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $161,489% |
Number of Portfolio Holdings | $330% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 3.4% |
Consumer Discretionary | 12.3% |
Consumer Staples | 5.5% |
Energy | 5.1% |
Financials | 12.6% |
Health Care | 9.3% |
Industrials | 20.6% |
Real Estate | 7.5% |
Technology | 14.4% |
Telecommunications | 0.8% |
Utilities | 8.1% |
Other Assets and Liabilities—Net | 0.4% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Investor Shares | $10 | 0.19%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $24,904% |
Number of Portfolio Holdings | $155% |
Portfolio Turnover Rate | $12% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.4% |
Consumer Discretionary | 13.8% |
Consumer Staples | 2.1% |
Energy | 6.3% |
Financials | 7.4% |
Health Care | 12.2% |
Industrials | 20.8% |
Real Estate | 6.6% |
Technology | 23.5% |
Telecommunications | 1.9% |
Utilities | 3.6% |
Other Assets and Liabilities—Net | 0.4% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
ETF Shares | $4 | 0.07%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $24,904% |
Number of Portfolio Holdings | $155% |
Portfolio Turnover Rate | $12% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.4% |
Consumer Discretionary | 13.8% |
Consumer Staples | 2.1% |
Energy | 6.3% |
Financials | 7.4% |
Health Care | 12.2% |
Industrials | 20.8% |
Real Estate | 6.6% |
Technology | 23.5% |
Telecommunications | 1.9% |
Utilities | 3.6% |
Other Assets and Liabilities—Net | 0.4% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Admiral Shares | $4 | 0.07%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $24,904% |
Number of Portfolio Holdings | $155% |
Portfolio Turnover Rate | $12% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.4% |
Consumer Discretionary | 13.8% |
Consumer Staples | 2.1% |
Energy | 6.3% |
Financials | 7.4% |
Health Care | 12.2% |
Industrials | 20.8% |
Real Estate | 6.6% |
Technology | 23.5% |
Telecommunications | 1.9% |
Utilities | 3.6% |
Other Assets and Liabilities—Net | 0.4% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Investor Shares | $10 | 0.19%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $28,001% |
Number of Portfolio Holdings | $197% |
Portfolio Turnover Rate | $11% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 5.1% |
Consumer Discretionary | 10.8% |
Consumer Staples | 8.3% |
Energy | 4.1% |
Financials | 17.2% |
Health Care | 6.8% |
Industrials | 20.6% |
Real Estate | 8.3% |
Technology | 6.7% |
Utilities | 11.8% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
ETF Shares | $4 | 0.07%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $28,001% |
Number of Portfolio Holdings | $197% |
Portfolio Turnover Rate | $11% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 5.1% |
Consumer Discretionary | 10.8% |
Consumer Staples | 8.3% |
Energy | 4.1% |
Financials | 17.2% |
Health Care | 6.8% |
Industrials | 20.6% |
Real Estate | 8.3% |
Technology | 6.7% |
Utilities | 11.8% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Admiral Shares | $4 | 0.07%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $28,001% |
Number of Portfolio Holdings | $197% |
Portfolio Turnover Rate | $11% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 5.1% |
Consumer Discretionary | 10.8% |
Consumer Staples | 8.3% |
Energy | 4.1% |
Financials | 17.2% |
Health Care | 6.8% |
Industrials | 20.6% |
Real Estate | 8.3% |
Technology | 6.7% |
Utilities | 11.8% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Investor Shares | $9 | 0.17%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $138,621% |
Number of Portfolio Holdings | $1,410% |
Portfolio Turnover Rate | $7% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 4.0% |
Consumer Discretionary | 16.2% |
Consumer Staples | 3.3% |
Energy | 5.7% |
Financials | 13.6% |
Health Care | 10.6% |
Industrials | 22.0% |
Real Estate | 7.0% |
Technology | 13.1% |
Telecommunications | 1.2% |
Utilities | 3.1% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
ETF Shares | $3 | 0.05%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $138,621% |
Number of Portfolio Holdings | $1,410% |
Portfolio Turnover Rate | $7% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 4.0% |
Consumer Discretionary | 16.2% |
Consumer Staples | 3.3% |
Energy | 5.7% |
Financials | 13.6% |
Health Care | 10.6% |
Industrials | 22.0% |
Real Estate | 7.0% |
Technology | 13.1% |
Telecommunications | 1.2% |
Utilities | 3.1% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Admiral Shares | $3 | 0.05%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $138,621% |
Number of Portfolio Holdings | $1,410% |
Portfolio Turnover Rate | $7% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 4.0% |
Consumer Discretionary | 16.2% |
Consumer Staples | 3.3% |
Energy | 5.7% |
Financials | 13.6% |
Health Care | 10.6% |
Industrials | 22.0% |
Real Estate | 7.0% |
Technology | 13.1% |
Telecommunications | 1.2% |
Utilities | 3.1% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Shares | $2 | 0.04%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $138,621% |
Number of Portfolio Holdings | $1,410% |
Portfolio Turnover Rate | $7% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 4.0% |
Consumer Discretionary | 16.2% |
Consumer Staples | 3.3% |
Energy | 5.7% |
Financials | 13.6% |
Health Care | 10.6% |
Industrials | 22.0% |
Real Estate | 7.0% |
Technology | 13.1% |
Telecommunications | 1.2% |
Utilities | 3.1% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Plus Shares | $2 | 0.03%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $138,621% |
Number of Portfolio Holdings | $1,410% |
Portfolio Turnover Rate | $7% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 4.0% |
Consumer Discretionary | 16.2% |
Consumer Staples | 3.3% |
Energy | 5.7% |
Financials | 13.6% |
Health Care | 10.6% |
Industrials | 22.0% |
Real Estate | 7.0% |
Technology | 13.1% |
Telecommunications | 1.2% |
Utilities | 3.1% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Investor Shares | $10 | 0.19%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $34,056% |
Number of Portfolio Holdings | $633% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.8% |
Consumer Discretionary | 16.6% |
Consumer Staples | 3.2% |
Energy | 7.1% |
Financials | 5.0% |
Health Care | 16.3% |
Industrials | 20.0% |
Real Estate | 5.0% |
Technology | 22.0% |
Telecommunications | 1.6% |
Utilities | 1.1% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
ETF Shares | $4 | 0.07%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $34,056% |
Number of Portfolio Holdings | $633% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.8% |
Consumer Discretionary | 16.6% |
Consumer Staples | 3.2% |
Energy | 7.1% |
Financials | 5.0% |
Health Care | 16.3% |
Industrials | 20.0% |
Real Estate | 5.0% |
Technology | 22.0% |
Telecommunications | 1.6% |
Utilities | 1.1% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Admiral Shares | $4 | 0.07%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $34,056% |
Number of Portfolio Holdings | $633% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.8% |
Consumer Discretionary | 16.6% |
Consumer Staples | 3.2% |
Energy | 7.1% |
Financials | 5.0% |
Health Care | 16.3% |
Industrials | 20.0% |
Real Estate | 5.0% |
Technology | 22.0% |
Telecommunications | 1.6% |
Utilities | 1.1% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Shares | $3 | 0.06%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $34,056% |
Number of Portfolio Holdings | $633% |
Portfolio Turnover Rate | $10% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.8% |
Consumer Discretionary | 16.6% |
Consumer Staples | 3.2% |
Energy | 7.1% |
Financials | 5.0% |
Health Care | 16.3% |
Industrials | 20.0% |
Real Estate | 5.0% |
Technology | 22.0% |
Telecommunications | 1.6% |
Utilities | 1.1% |
Other Assets and Liabilities—Net | 0.3% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Investor Shares | $10 | 0.19%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $52,497% |
Number of Portfolio Holdings | $856% |
Portfolio Turnover Rate | $8% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 5.6% |
Consumer Discretionary | 15.6% |
Consumer Staples | 3.4% |
Energy | 4.6% |
Financials | 20.3% |
Health Care | 6.2% |
Industrials | 23.4% |
Real Estate | 8.5% |
Technology | 6.2% |
Telecommunications | 1.0% |
Utilities | 4.7% |
Other Assets and Liabilities—Net | 0.5% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
ETF Shares | $4 | 0.07%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $52,497% |
Number of Portfolio Holdings | $856% |
Portfolio Turnover Rate | $8% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 5.6% |
Consumer Discretionary | 15.6% |
Consumer Staples | 3.4% |
Energy | 4.6% |
Financials | 20.3% |
Health Care | 6.2% |
Industrials | 23.4% |
Real Estate | 8.5% |
Technology | 6.2% |
Telecommunications | 1.0% |
Utilities | 4.7% |
Other Assets and Liabilities—Net | 0.5% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Admiral Shares | $4 | 0.07%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $52,497% |
Number of Portfolio Holdings | $856% |
Portfolio Turnover Rate | $8% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 5.6% |
Consumer Discretionary | 15.6% |
Consumer Staples | 3.4% |
Energy | 4.6% |
Financials | 20.3% |
Health Care | 6.2% |
Industrials | 23.4% |
Real Estate | 8.5% |
Technology | 6.2% |
Telecommunications | 1.0% |
Utilities | 4.7% |
Other Assets and Liabilities—Net | 0.5% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Shares | $3 | 0.06%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $52,497% |
Number of Portfolio Holdings | $856% |
Portfolio Turnover Rate | $8% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 5.6% |
Consumer Discretionary | 15.6% |
Consumer Staples | 3.4% |
Energy | 4.6% |
Financials | 20.3% |
Health Care | 6.2% |
Industrials | 23.4% |
Real Estate | 8.5% |
Technology | 6.2% |
Telecommunications | 1.0% |
Utilities | 4.7% |
Other Assets and Liabilities—Net | 0.5% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Investor Shares | $7 | 0.14%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $1,649,689% |
Number of Portfolio Holdings | $3,688% |
Portfolio Turnover Rate | $1% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.7% |
Consumer Discretionary | 13.7% |
Consumer Staples | 4.3% |
Energy | 3.9% |
Financials | 10.5% |
Health Care | 11.4% |
Industrials | 12.1% |
Real Estate | 2.6% |
Technology | 35.1% |
Telecommunications | 1.9% |
Utilities | 2.6% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
ETF Shares | $2 | 0.03%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $1,649,689% |
Number of Portfolio Holdings | $3,688% |
Portfolio Turnover Rate | $1% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.7% |
Consumer Discretionary | 13.7% |
Consumer Staples | 4.3% |
Energy | 3.9% |
Financials | 10.5% |
Health Care | 11.4% |
Industrials | 12.1% |
Real Estate | 2.6% |
Technology | 35.1% |
Telecommunications | 1.9% |
Utilities | 2.6% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Admiral Shares | $2 | 0.04%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $1,649,689% |
Number of Portfolio Holdings | $3,688% |
Portfolio Turnover Rate | $1% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.7% |
Consumer Discretionary | 13.7% |
Consumer Staples | 4.3% |
Energy | 3.9% |
Financials | 10.5% |
Health Care | 11.4% |
Industrials | 12.1% |
Real Estate | 2.6% |
Technology | 35.1% |
Telecommunications | 1.9% |
Utilities | 2.6% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Shares | $2 | 0.03%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $1,649,689% |
Number of Portfolio Holdings | $3,688% |
Portfolio Turnover Rate | $1% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.7% |
Consumer Discretionary | 13.7% |
Consumer Staples | 4.3% |
Energy | 3.9% |
Financials | 10.5% |
Health Care | 11.4% |
Industrials | 12.1% |
Real Estate | 2.6% |
Technology | 35.1% |
Telecommunications | 1.9% |
Utilities | 2.6% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Plus Shares | $1 | 0.02%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $1,649,689% |
Number of Portfolio Holdings | $3,688% |
Portfolio Turnover Rate | $1% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.7% |
Consumer Discretionary | 13.7% |
Consumer Staples | 4.3% |
Energy | 3.9% |
Financials | 10.5% |
Health Care | 11.4% |
Industrials | 12.1% |
Real Estate | 2.6% |
Technology | 35.1% |
Telecommunications | 1.9% |
Utilities | 2.6% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Share Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Select Shares | $1 | 0.01%1 |
1 | Annualized. |
Fund Statistics (as of June 30, 2024) | |
Fund Net Assets (in millions) | $1,649,689% |
Number of Portfolio Holdings | $3,688% |
Portfolio Turnover Rate | $1% |
Portfolio Composition % of Net Assets (as of June 30, 2024) | |
Basic Materials | 1.7% |
Consumer Discretionary | 13.7% |
Consumer Staples | 4.3% |
Energy | 3.9% |
Financials | 10.5% |
Health Care | 11.4% |
Industrials | 12.1% |
Real Estate | 2.6% |
Technology | 35.1% |
Telecommunications | 1.9% |
Utilities | 2.6% |
Other Assets and Liabilities—Net | 0.2% |
Where can I find additional information about the Fund?
All rights reserved.
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 in the financial statements filed under Item 7 of this Form.
Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.
Small-Capitalization Portfolios
Vanguard Small-Cap Index Fund |
Vanguard Small-Cap Growth Index Fund |
Vanguard Small-Cap Value Index Fund |
Small-Cap Index Fund | 1 |
Small-Cap Growth Index Fund | 36 |
Small-Cap Value Index Fund | 59 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.8%) | ||||||
Basic Materials (4.0%) | ||||||
Reliance Inc. | 1,443,522 | 412,270 | ||||
Eastman Chemical Co. | 2,957,271 | 289,724 | ||||
Steel Dynamics Inc. | 1,876,248 | 242,974 | ||||
Mosaic Co. | 8,070,910 | 233,249 | ||||
Royal Gold Inc. | 1,652,288 | 206,800 | ||||
* | RBC Bearings Inc. | 734,262 | 198,089 | |||
United States Steel Corp. | 5,086,733 | 192,278 | ||||
* | Cleveland-Cliffs Inc. | 11,952,997 | 183,957 | |||
FMC Corp. | 3,137,505 | 180,563 | ||||
Alcoa Corp. | 4,513,514 | 179,548 | ||||
UFP Industries Inc. | 1,474,658 | 165,162 | ||||
Commercial Metals Co. | 2,908,545 | 159,941 | ||||
Mueller Industries Inc. | 2,712,688 | 154,460 | ||||
Element Solutions Inc. | 5,475,221 | 148,488 | ||||
Olin Corp. | 3,001,893 | 141,539 | ||||
* | Valvoline Inc. | 3,239,038 | 139,926 | |||
Hexcel Corp. | 2,089,301 | 130,477 | ||||
Carpenter Technology Corp. | 1,184,604 | 129,809 | ||||
Timken Co. | 1,592,956 | 127,644 | ||||
Cabot Corp. | 1,389,024 | 127,637 | ||||
Balchem Corp. | 815,035 | 125,475 | ||||
Boise Cascade Co. | 992,413 | 118,315 | ||||
Ashland Inc. | 1,196,889 | 113,094 | ||||
Avient Corp. | 2,291,955 | 100,044 | ||||
Huntsman Corp. | 4,131,285 | 94,069 | ||||
NewMarket Corp. | 180,865 | 93,249 | ||||
*,1 | Arcadium Lithium plc | 27,026,762 | 90,810 | |||
Chemours Co. | 3,742,727 | 84,473 | ||||
Sensient Technologies Corp. | 1,064,923 | 79,007 | ||||
Innospec Inc. | 626,730 | 77,458 | ||||
Hecla Mining Co. | 14,955,551 | 72,534 | ||||
Westlake Corp. | 484,597 | 70,179 | ||||
Scotts Miracle-Gro Co. | 1,070,806 | 69,667 | ||||
Minerals Technologies Inc. | 810,631 | 67,412 | ||||
Quaker Chemical Corp. | 339,181 | 57,559 | ||||
Materion Corp. | 521,105 | 56,347 | ||||
* | Coeur Mining Inc. | 9,033,188 | 50,767 | |||
Tronox Holdings plc | 2,975,602 | 46,687 | ||||
Stepan Co. | 536,680 | 45,060 | ||||
* | Ingevity Corp. | 913,031 | 39,909 | |||
*,1 | MP Materials Corp. | 3,117,526 | 39,686 | |||
Kaiser Aluminum Corp. | 383,705 | 33,728 | ||||
Worthington Steel Inc. | 887,277 | 29,600 | ||||
* | Ecovyst Inc. | 2,647,083 | 23,744 | |||
Mativ Holdings Inc. | 1,297,211 | 22,001 | ||||
* | Century Aluminum Co. | 1,281,552 | 21,466 | |||
Koppers Holdings Inc. | 505,984 | 18,716 | ||||
Compass Minerals International Inc. | 1,039,029 | 10,733 | ||||
Radius Recycling Inc. | 314,890 | 4,808 | ||||
5,501,132 | ||||||
Consumer Discretionary (16.2%) | ||||||
* | Deckers Outdoor Corp. | 639,564 | 619,066 | |||
Williams-Sonoma Inc. | 1,616,491 | 456,449 | ||||
* | DraftKings Inc. Class A | 10,943,024 | 417,695 | |||
* | Liberty Media Corp.-Liberty Formula One Class C | 4,977,202 | 357,562 | |||
RB Global Inc. | 4,617,996 | 352,630 | ||||
* | Carvana Co. Class A | 2,645,648 | 340,548 | |||
Wingstop Inc. | 738,279 | 312,041 | ||||
Toll Brothers Inc. | 2,618,481 | 301,597 |
Shares | Market Value• ($000) | |||||
Dick's Sporting Goods Inc. | 1,390,428 | 298,733 | ||||
* | BJ's Wholesale Club Holdings Inc. | 3,335,886 | 293,024 | |||
* | CarMax Inc. | 3,950,868 | 289,757 | |||
Texas Roadhouse Inc. Class A | 1,678,871 | 288,279 | ||||
* | elf Beauty Inc. | 1,335,788 | 281,477 | |||
Interpublic Group of Cos. Inc. | 9,478,172 | 275,720 | ||||
*,1 | Rivian Automotive Inc. Class A | 19,837,760 | 266,223 | |||
* | Floor & Decor Holdings Inc. Class A | 2,555,402 | 254,032 | |||
Service Corp. International | 3,477,200 | 247,333 | ||||
Tapestry Inc. | 5,775,704 | 247,142 | ||||
* | Light & Wonder Inc. | 2,265,768 | 237,634 | |||
Churchill Downs Inc. | 1,662,906 | 232,142 | ||||
* | Skechers USA Inc. Class A | 3,328,066 | 230,036 | |||
* | Abercrombie & Fitch Co. Class A | 1,282,489 | 228,078 | |||
Aramark | 6,610,682 | 224,895 | ||||
Murphy USA Inc. | 468,716 | 220,043 | ||||
Bath & Body Works Inc. | 5,622,318 | 219,551 | ||||
Wynn Resorts Ltd. | 2,394,562 | 214,313 | ||||
* | Crocs Inc. | 1,449,565 | 211,549 | |||
* | Caesars Entertainment Inc. | 5,167,944 | 205,374 | |||
* | Norwegian Cruise Line Holdings Ltd. | 10,784,484 | 202,640 | |||
New York Times Co. Class A | 3,905,127 | 199,982 | ||||
Tempur Sealy International Inc. | 4,146,105 | 196,277 | ||||
*,1 | GameStop Corp. Class A | 7,942,151 | 196,092 | |||
Gentex Corp. | 5,811,171 | 195,895 | ||||
Hasbro Inc. | 3,324,442 | 194,480 | ||||
H&R Block Inc. | 3,507,334 | 190,203 | ||||
TKO Group Holdings Inc. Class A | 1,723,758 | 186,149 | ||||
*,1 | American Airlines Group Inc. | 16,427,807 | 186,127 | |||
BorgWarner Inc. | 5,727,161 | 184,644 | ||||
* | Duolingo Inc. Class A | 883,218 | 184,301 | |||
Lithia Motors Inc. Class A | 688,937 | 173,922 | ||||
* | Etsy Inc. | 2,939,348 | 173,363 | |||
Vail Resorts Inc. | 954,370 | 171,911 | ||||
Hyatt Hotels Corp. Class A | 1,078,800 | 163,891 | ||||
Lear Corp. | 1,427,439 | 163,028 | ||||
* | Planet Fitness Inc. Class A | 2,200,110 | 161,906 | |||
Ralph Lauren Corp. Class A | 919,048 | 160,889 | ||||
* | Bright Horizons Family Solutions Inc. | 1,458,014 | 160,498 | |||
* | Cava Group Inc. | 1,719,478 | 159,482 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 1,542,570 | 151,434 | |||
PVH Corp. | 1,423,167 | 150,671 | ||||
Wyndham Hotels & Resorts Inc. | 2,025,463 | 149,884 | ||||
U-Haul Holding Co. (XNYS) | 2,448,543 | 146,962 | ||||
Gap Inc. | 6,102,681 | 145,793 | ||||
* | Five Below Inc. | 1,317,991 | 143,621 | |||
Pool Corp. | 457,673 | 140,657 | ||||
* | Mattel Inc. | 8,649,045 | 140,633 | |||
Meritage Homes Corp. | 867,351 | 140,381 | ||||
Whirlpool Corp. | 1,373,354 | 140,357 | ||||
* | Taylor Morrison Home Corp. Class A | 2,525,674 | 140,023 | |||
LKQ Corp. | 3,346,471 | 139,180 | ||||
1 | Paramount Global Class B | 13,391,377 | 139,136 | |||
* | SiteOne Landscape Supply Inc. | 1,136,462 | 137,978 | |||
Macy's Inc. | 6,947,941 | 133,400 | ||||
Nexstar Media Group Inc. Class A | 784,017 | 130,155 | ||||
* | AutoNation Inc. | 809,812 | 129,068 | |||
* | Alaska Air Group Inc. | 3,189,603 | 128,860 | |||
* | Wayfair Inc. Class A | 2,298,104 | 121,179 | |||
Thor Industries Inc. | 1,273,382 | 118,998 | ||||
* | Lyft Inc. Class A | 8,438,429 | 118,982 | |||
VF Corp. | 8,797,784 | 118,770 | ||||
* | Asbury Automotive Group Inc. | 507,104 | 115,554 | |||
KB Home | 1,622,188 | 113,845 | ||||
Polaris Inc. | 1,349,540 | 105,682 | ||||
* | Grand Canyon Education Inc. | 747,533 | 104,587 | |||
Harley-Davidson Inc. | 3,043,125 | 102,066 | ||||
Academy Sports & Outdoors Inc. | 1,854,894 | 98,773 | ||||
* | Boot Barn Holdings Inc. | 763,373 | 98,422 | |||
* | Capri Holdings Ltd. | 2,932,142 | 96,995 |
Shares | Market Value• ($000) | |||||
* | Dutch Bros Inc. Class A | 2,320,694 | 96,077 | |||
Group 1 Automotive Inc. | 323,173 | 96,073 | ||||
Signet Jewelers Ltd. | 1,066,350 | 95,524 | ||||
Advance Auto Parts Inc. | 1,498,715 | 94,914 | ||||
Kontoor Brands Inc. | 1,403,401 | 92,835 | ||||
Boyd Gaming Corp. | 1,669,523 | 91,991 | ||||
* | RH | 368,316 | 90,031 | |||
American Eagle Outfitters Inc. | 4,443,898 | 88,700 | ||||
* | Skyline Champion Corp. | 1,308,968 | 88,683 | |||
* | Coty Inc. Class A | 8,728,881 | 87,463 | |||
* | Madison Square Garden Sports Corp. | 463,709 | 87,238 | |||
* | Shake Shack Inc. Class A | 946,491 | 85,184 | |||
* | Tri Pointe Homes Inc. | 2,265,680 | 84,397 | |||
* | YETI Holdings Inc. | 2,142,714 | 81,745 | |||
* | Goodyear Tire & Rubber Co. | 7,156,019 | 81,221 | |||
* | Brinker International Inc. | 1,118,341 | 80,957 | |||
1 | Choice Hotels International Inc. | 666,007 | 79,255 | |||
* | SkyWest Inc. | 961,403 | 78,902 | |||
Travel + Leisure Co. | 1,701,742 | 76,544 | ||||
Penske Automotive Group Inc. | 504,333 | 75,156 | ||||
* | Chewy Inc. Class A | 2,756,080 | 75,076 | |||
Wendy's Co. | 4,382,847 | 74,333 | ||||
*,1 | Penn Entertainment Inc. | 3,831,988 | 74,168 | |||
Steven Madden Ltd. | 1,752,299 | 74,122 | ||||
* | Visteon Corp. | 693,705 | 74,018 | |||
* | Hilton Grand Vacations Inc. | 1,824,864 | 73,779 | |||
* | Stride Inc. | 1,032,945 | 72,823 | |||
Red Rock Resorts Inc. Class A | 1,273,634 | 69,961 | ||||
Marriott Vacations Worldwide Corp. | 795,523 | 69,465 | ||||
* | Sweetgreen Inc. Class A | 2,271,953 | 68,477 | |||
* | Urban Outfitters Inc. | 1,641,557 | 67,386 | |||
Rush Enterprises Inc. Class A | 1,594,805 | 66,774 | ||||
* | Frontdoor Inc. | 1,955,475 | 66,075 | |||
Columbia Sportswear Co. | 817,471 | 64,646 | ||||
Newell Brands Inc. | 9,913,918 | 63,548 | ||||
LCI Industries | 607,715 | 62,826 | ||||
Strategic Education Inc. | 556,691 | 61,603 | ||||
* | Adtalem Global Education Inc. | 898,143 | 61,262 | |||
* | Liberty Media Corp.-Liberty SiriusXM | 2,763,423 | 61,237 | |||
* | ACV Auctions Inc. Class A | 3,347,107 | 61,085 | |||
Kohl's Corp. | 2,648,736 | 60,894 | ||||
* | Dorman Products Inc. | 662,650 | 60,619 | |||
*,1 | Lucid Group Inc. | 23,197,444 | 60,545 | |||
* | Cinemark Holdings Inc. | 2,767,856 | 59,841 | |||
* | Six Flags Entertainment Corp. | 1,800,517 | 59,669 | |||
TEGNA Inc. | 4,265,055 | 59,455 | ||||
Foot Locker Inc. | 2,375,275 | 59,192 | ||||
* | Helen of Troy Ltd. | 598,494 | 55,504 | |||
Laureate Education Inc. | 3,704,962 | 55,352 | ||||
Graham Holdings Co. Class B | 78,584 | 54,973 | ||||
Carter's Inc. | 871,594 | 54,013 | ||||
* | Topgolf Callaway Brands Corp. | 3,460,807 | 52,950 | |||
Nordstrom Inc. | 2,462,253 | 52,249 | ||||
Inter Parfums Inc. | 442,781 | 51,376 | ||||
* | Fox Factory Holding Corp. | 1,055,608 | 50,870 | |||
HNI Corp. | 1,129,428 | 50,847 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 2,283,536 | 50,580 | |||
PriceSmart Inc. | 616,473 | 50,058 | ||||
* | JetBlue Airways Corp. | 8,123,137 | 49,470 | |||
MillerKnoll Inc. | 1,800,788 | 47,703 | ||||
* | United Parks & Resorts Inc. | 863,973 | 46,922 | |||
Endeavor Group Holdings Inc. Class A | 1,710,713 | 46,241 | ||||
* | Sonos Inc. | 3,089,326 | 45,598 | |||
* | Liberty Media Corp.-Liberty Live Class C | 1,185,075 | 45,353 | |||
* | TripAdvisor Inc. | 2,543,411 | 45,298 | |||
Cheesecake Factory Inc. | 1,152,816 | 45,294 | ||||
Acushnet Holdings Corp. | 713,479 | 45,292 | ||||
Phinia Inc. | 1,148,367 | 45,200 | ||||
* | OPENLANE Inc. | 2,722,365 | 45,164 | |||
Levi Strauss & Co. Class A | 2,338,029 | 45,077 |
Shares | Market Value• ($000) | |||||
* | LGI Homes Inc. | 503,538 | 45,062 | |||
Avis Budget Group Inc. | 403,307 | 42,154 | ||||
John Wiley & Sons Inc. Class A | 1,034,326 | 42,097 | ||||
Bloomin' Brands Inc. | 2,173,689 | 41,800 | ||||
* | Central Garden & Pet Co. Class A | 1,258,837 | 41,579 | |||
* | Hanesbrands Inc. | 8,395,250 | 41,389 | |||
*,1 | QuantumScape Corp. Class A | 8,386,252 | 41,260 | |||
La-Z-Boy Inc. | 1,071,825 | 39,958 | ||||
Dana Inc. | 3,279,435 | 39,747 | ||||
* | Gentherm Inc. | 795,455 | 39,232 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 607,905 | 39,046 | |||
Papa John's International Inc. | 828,780 | 38,936 | ||||
Upbound Group Inc. | 1,235,786 | 37,939 | ||||
Oxford Industries Inc. | 373,495 | 37,406 | ||||
* | Knowles Corp. | 2,143,220 | 36,992 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 7,427,666 | 36,990 | |||
Leggett & Platt Inc. | 3,200,702 | 36,680 | ||||
Worthington Enterprises Inc. | 756,290 | 35,795 | ||||
PROG Holdings Inc. | 1,031,142 | 35,760 | ||||
* | Victoria's Secret & Co. | 1,967,857 | 34,772 | |||
* | Cavco Industries Inc. | 98,899 | 34,236 | |||
1 | Dillard's Inc. Class A | 76,941 | 33,884 | |||
* | ODP Corp. | 857,164 | 33,661 | |||
* | Life Time Group Holdings Inc. | 1,749,246 | 32,938 | |||
* | PowerSchool Holdings Inc. Class A | 1,459,688 | 32,682 | |||
* | Dave & Buster's Entertainment Inc. | 810,358 | 32,260 | |||
* | Under Armour Inc. Class A | 4,758,973 | 31,742 | |||
* | Under Armour Inc. Class C | 4,810,517 | 31,413 | |||
* | Cars.com Inc. | 1,578,882 | 31,104 | |||
* | Madison Square Garden Entertainment Corp. Class A | 879,334 | 30,100 | |||
* | Peloton Interactive Inc. Class A | 8,424,533 | 28,475 | |||
Buckle Inc. | 765,922 | 28,293 | ||||
* | Sally Beauty Holdings Inc. | 2,602,132 | 27,921 | |||
* | Lions Gate Entertainment Corp. Class B | 3,251,525 | 27,866 | |||
Steelcase Inc. Class A | 2,122,930 | 27,513 | ||||
* | G-III Apparel Group Ltd. | 960,781 | 26,008 | |||
* | National Vision Holdings Inc. | 1,974,786 | 25,850 | |||
Wolverine World Wide Inc. | 1,908,685 | 25,805 | ||||
* | Vista Outdoor Inc. | 659,856 | 24,844 | |||
Jack in the Box Inc. | 487,426 | 24,829 | ||||
* | Sabre Corp. | 9,121,153 | 24,353 | |||
* | Sphere Entertainment Co. | 679,718 | 23,831 | |||
* | Integral Ad Science Holding Corp. | 2,421,336 | 23,535 | |||
1 | Cracker Barrel Old Country Store Inc. | 558,071 | 23,528 | |||
* | Udemy Inc. | 2,501,605 | 21,589 | |||
Arhaus Inc. Class A | 1,271,417 | 21,538 | ||||
Krispy Kreme Inc. | 1,908,666 | 20,537 | ||||
1 | Sirius XM Holdings Inc. | 7,238,106 | 20,484 | |||
* | Vizio Holding Corp. Class A | 1,841,832 | 19,892 | |||
* | Liberty Media Corp.-Liberty Live Class A | 529,107 | 19,847 | |||
* | Coursera Inc. | 2,746,968 | 19,668 | |||
* | American Axle & Manufacturing Holdings Inc. | 2,807,097 | 19,622 | |||
Allegiant Travel Co. | 389,589 | 19,569 | ||||
* | BJ's Restaurants Inc. | 558,366 | 19,375 | |||
* | Driven Brands Holdings Inc. | 1,443,540 | 18,376 | |||
Matthews International Corp. Class A | 733,346 | 18,370 | ||||
Sturm Ruger & Co. Inc. | 437,455 | 18,220 | ||||
Camping World Holdings Inc. Class A | 1,019,679 | 18,211 | ||||
Sonic Automotive Inc. Class A | 331,090 | 18,034 | ||||
* | Leslie's Inc. | 4,179,390 | 17,512 | |||
* | Figs Inc. Class A | 3,256,633 | 17,358 | |||
*,1 | Mister Car Wash Inc. | 2,409,355 | 17,155 | |||
Scholastic Corp. | 481,847 | 17,091 | ||||
Monro Inc. | 714,458 | 17,047 | ||||
* | Sun Country Airlines Holdings Inc. | 1,322,016 | 16,605 | |||
* | Rush Street Interactive Inc. | 1,702,061 | 16,323 | |||
*,1 | Revolve Group Inc. Class A | 960,815 | 15,287 | |||
1 | Guess? Inc. | 739,419 | 15,084 | |||
* | Beyond Inc. | 1,149,707 | 15,038 | |||
* | Lions Gate Entertainment Corp. Class A | 1,576,677 | 14,852 |
Shares | Market Value• ($000) | |||||
* | Dream Finders Homes Inc. Class A | 563,715 | 14,555 | |||
Caleres Inc. | 420,014 | 14,112 | ||||
* | Portillo's Inc. Class A | 1,392,833 | 13,538 | |||
Dine Brands Global Inc. | 367,916 | 13,319 | ||||
*,1 | U-Haul Holding Co. | 214,120 | 13,218 | |||
* | Instructure Holdings Inc. | 550,247 | 12,881 | |||
Sinclair Inc. | 905,795 | 12,074 | ||||
*,1 | Luminar Technologies Inc. Class A | 7,882,786 | 11,745 | |||
* | Corsair Gaming Inc. | 1,044,660 | 11,533 | |||
* | Clear Channel Outdoor Holdings Inc. | 7,371,866 | 10,394 | |||
Interface Inc. Class A | 695,425 | 10,209 | ||||
*,1 | Hertz Global Holdings Inc. | 2,686,684 | 9,484 | |||
1 | Bowlero Corp. Class A | 567,849 | 8,228 | |||
* | Central Garden & Pet Co. | 209,403 | 8,062 | |||
Smith & Wesson Brands Inc. | 542,556 | 7,780 | ||||
*,1 | AMC Networks Inc. Class A | 777,074 | 7,507 | |||
*,1 | Savers Value Village Inc. | 610,038 | 7,467 | |||
*,1 | Cricut Inc. Class A | 1,162,264 | 6,962 | |||
*,1 | Frontier Group Holdings Inc. | 1,406,847 | 6,936 | |||
* | Petco Health & Wellness Co. Inc. Class A | 1,748,430 | 6,609 | |||
1 | Spirit Airlines Inc. | 1,378,917 | 5,047 | |||
Rush Enterprises Inc. Class B | 122,629 | 4,812 | ||||
* | Chegg Inc. | 1,223,051 | 3,865 | |||
Designer Brands Inc. Class A | 535,537 | 3,658 | ||||
1 | Paramount Global Class A | 193,854 | 3,563 | |||
* | Angi Inc. Class A | 1,803,744 | 3,463 | |||
* | SES AI Corp. | 1,577,168 | 1,971 | |||
22,394,743 | ||||||
Consumer Staples (3.3%) | ||||||
Bunge Global SA | 3,559,337 | 380,030 | ||||
Casey's General Stores Inc. | 930,466 | 355,029 | ||||
* | US Foods Holding Corp. | 6,179,573 | 327,394 | |||
* | Performance Food Group Co. | 3,911,516 | 258,590 | |||
*,1 | Celsius Holdings Inc. | 4,101,718 | 234,167 | |||
Molson Coors Beverage Co. Class B | 4,464,862 | 226,949 | ||||
* | Sprouts Farmers Market Inc. | 2,525,682 | 211,299 | |||
Ingredion Inc. | 1,650,147 | 189,272 | ||||
* | BellRing Brands Inc. | 3,278,756 | 187,348 | |||
Albertsons Cos. Inc. Class A | 8,699,225 | 171,810 | ||||
* | Freshpet Inc. | 1,217,401 | 157,520 | |||
Lamb Weston Holdings Inc. | 1,814,756 | 152,585 | ||||
* | Darling Ingredients Inc. | 4,016,348 | 147,601 | |||
J M Smucker Co. | 1,265,253 | 137,963 | ||||
Coca-Cola Consolidated Inc. | 126,217 | 136,945 | ||||
* | Post Holdings Inc. | 1,218,348 | 126,903 | |||
Flowers Foods Inc. | 4,775,567 | 106,018 | ||||
Lancaster Colony Corp. | 484,337 | 91,525 | ||||
* | Simply Good Foods Co. | 2,262,053 | 81,728 | |||
WD-40 Co. | 340,678 | 74,827 | ||||
Cal-Maine Foods Inc. | 1,000,807 | 61,159 | ||||
Spectrum Brands Holdings Inc. | 696,160 | 59,821 | ||||
Energizer Holdings Inc. | 1,804,457 | 53,304 | ||||
* | Boston Beer Co. Inc. Class A | 173,948 | 53,063 | |||
Edgewell Personal Care Co. | 1,245,771 | 50,068 | ||||
* | Grocery Outlet Holding Corp. | 2,259,155 | 49,972 | |||
J & J Snack Foods Corp. | 292,386 | 47,475 | ||||
* | TreeHouse Foods Inc. | 1,190,039 | 43,603 | |||
Andersons Inc. | 813,088 | 40,329 | ||||
Reynolds Consumer Products Inc. | 1,320,420 | 36,945 | ||||
Vector Group Ltd. | 3,363,459 | 35,552 | ||||
* | Pilgrim's Pride Corp. | 893,385 | 34,386 | |||
National Beverage Corp. | 587,844 | 30,121 | ||||
Universal Corp. | 586,852 | 28,280 | ||||
Utz Brands Inc. | 1,638,126 | 27,258 | ||||
Weis Markets Inc. | 405,676 | 25,464 | ||||
* | Herbalife Ltd. | 2,387,255 | 24,804 | |||
Fresh Del Monte Produce Inc. | 963,251 | 21,047 | ||||
Seaboard Corp. | 6,095 | 19,265 | ||||
* | United Natural Foods Inc. | 1,419,382 | 18,594 |
Shares | Market Value• ($000) | |||||
* | Hain Celestial Group Inc. | 2,258,380 | 15,605 | |||
B&G Foods Inc. | 1,887,863 | 15,254 | ||||
* | USANA Health Sciences Inc. | 287,441 | 13,004 | |||
Tootsie Roll Industries Inc. | 414,315 | 12,666 | ||||
Nu Skin Enterprises Inc. Class A | 1,186,371 | 12,504 | ||||
* | Duckhorn Portfolio Inc. | 1,292,834 | 9,179 | |||
*,1 | BRC Inc. Class A | 1,268,875 | 7,778 | |||
* | Olaplex Holdings Inc. | 2,467,602 | 3,800 | |||
4,605,803 | ||||||
Energy (5.7%) | ||||||
Targa Resources Corp. | 5,573,268 | 717,726 | ||||
Ovintiv Inc. | 6,711,332 | 314,560 | ||||
APA Corp. | 9,329,637 | 274,665 | ||||
TechnipFMC plc | 10,291,789 | 269,130 | ||||
1 | Chesapeake Energy Corp. | 3,129,423 | 257,207 | |||
Chord Energy Corp. | 1,488,460 | 249,585 | ||||
* | Antero Resources Corp. | 7,420,945 | 242,145 | |||
* | Weatherford International plc | 1,838,822 | 225,164 | |||
HF Sinclair Corp. | 4,105,475 | 218,986 | ||||
EQT Corp. | 5,550,068 | 205,242 | ||||
Range Resources Corp. | 5,793,902 | 194,270 | ||||
Permian Resources Corp. Class A | 11,716,460 | 189,221 | ||||
NOV Inc. | 9,942,428 | 189,006 | ||||
* | Southwestern Energy Co. | 27,721,817 | 186,568 | |||
Civitas Resources Inc. | 2,515,802 | 173,590 | ||||
DT Midstream Inc. | 2,441,022 | 173,386 | ||||
1 | Texas Pacific Land Corp. | 231,144 | 169,722 | |||
Matador Resources Co. | 2,822,690 | 168,232 | ||||
ChampionX Corp. | 4,786,587 | 158,963 | ||||
* | NEXTracker Inc. Class A | 3,373,792 | 158,163 | |||
Murphy Oil Corp. | 3,643,643 | 150,264 | ||||
Equitrans Midstream Corp. | 10,355,776 | 134,418 | ||||
1 | Noble Corp. plc | 2,871,927 | 128,232 | |||
SM Energy Co. | 2,891,694 | 125,008 | ||||
Antero Midstream Corp. | 8,467,700 | 124,814 | ||||
PBF Energy Inc. Class A | 2,533,310 | 116,583 | ||||
* | Valaris Ltd. | 1,544,130 | 115,038 | |||
* | Tidewater Inc. | 1,193,648 | 113,647 | |||
Magnolia Oil & Gas Corp. Class A | 4,320,775 | 109,488 | ||||
Patterson-UTI Energy Inc. | 10,098,214 | 104,617 | ||||
Arcosa Inc. | 1,221,221 | 101,862 | ||||
*,1 | Transocean Ltd. | 18,541,014 | 99,194 | |||
California Resources Corp. | 1,716,040 | 91,328 | ||||
* | CNX Resources Corp. | 3,659,480 | 88,925 | |||
Cactus Inc. Class A | 1,651,628 | 87,107 | ||||
Viper Energy Inc. Class A | 2,297,974 | 86,243 | ||||
Northern Oil & Gas Inc. | 2,286,166 | 84,977 | ||||
Warrior Met Coal Inc. | 1,314,684 | 82,523 | ||||
Helmerich & Payne Inc. | 2,233,477 | 80,718 | ||||
Liberty Energy Inc. Class A | 3,770,134 | 78,758 | ||||
Alpha Metallurgical Resources Inc. | 277,907 | 77,961 | ||||
Archrock Inc. | 3,732,509 | 75,471 | ||||
Peabody Energy Corp. | 3,004,058 | 66,450 | ||||
Arch Resources Inc. | 435,738 | 66,332 | ||||
* | Oceaneering International Inc. | 2,548,572 | 60,299 | |||
1 | New Fortress Energy Inc. | 2,319,613 | 50,985 | |||
Sitio Royalties Corp. Class A | 1,925,158 | 45,453 | ||||
*,1 | Plug Power Inc. | 18,658,610 | 43,475 | |||
Kinetik Holdings Inc. Class A | 975,378 | 40,420 | ||||
Delek US Holdings Inc. | 1,531,449 | 37,919 | ||||
* | Array Technologies Inc. | 3,624,174 | 37,184 | |||
World Kinect Corp. | 1,431,401 | 36,930 | ||||
* | DNOW Inc. | 2,684,741 | 36,861 | |||
Atlas Energy Solutions Inc. Class A | 1,518,167 | 30,257 | ||||
Crescent Energy Co. Class A | 2,522,528 | 29,892 | ||||
* | CONSOL Energy Inc. | 277,019 | 28,264 | |||
* | Fluence Energy Inc. | 1,607,416 | 27,873 | |||
* | Shoals Technologies Group Inc. Class A | 4,283,701 | 26,730 | |||
* | MRC Global Inc. | 2,031,680 | 26,229 |
Shares | Market Value• ($000) | |||||
Core Laboratories Inc. | 1,178,930 | 23,920 | ||||
CVR Energy Inc. | 884,477 | 23,677 | ||||
* | Ameresco Inc. Class A | 820,007 | 23,624 | |||
Comstock Resources Inc. | 2,203,353 | 22,871 | ||||
* | Helix Energy Solutions Group Inc. | 1,820,261 | 21,734 | |||
* | ProPetro Holding Corp. | 2,287,191 | 19,830 | |||
* | Dril-Quip Inc. | 865,251 | 16,094 | |||
*,1 | ChargePoint Holdings Inc. | 10,154,232 | 15,333 | |||
RPC Inc. | 2,424,743 | 15,155 | ||||
Vitesse Energy Inc. | 555,338 | 13,162 | ||||
1 | HighPeak Energy Inc. | 482,096 | 6,778 | |||
*,1 | EVgo Inc. Class A | 2,527,891 | 6,193 | |||
*,1 | FuelCell Energy Inc. | 5,689,845 | 3,635 | |||
*,1 | ProFrac Holding Corp. Class A | 402,428 | 2,982 | |||
*,1 | OPAL Fuels Inc. Class A | 490,184 | 2,005 | |||
*,1 | SunPower Corp. | 554,122 | 1,640 | |||
7,902,893 | ||||||
Financials (13.6%) | ||||||
First Citizens BancShares Inc. Class A | 271,969 | 457,890 | ||||
* | Robinhood Markets Inc. Class A | 16,126,206 | 366,226 | |||
Reinsurance Group of America Inc. | 1,653,772 | 339,470 | ||||
Equitable Holdings Inc. | 8,175,904 | 334,067 | ||||
RenaissanceRe Holdings Ltd. | 1,329,193 | 297,088 | ||||
Ally Financial Inc. | 6,876,988 | 272,810 | ||||
Brown & Brown Inc. | 2,868,043 | 256,432 | ||||
East West Bancorp Inc. | 3,497,665 | 256,134 | ||||
Annaly Capital Management Inc. | 12,579,160 | 239,759 | ||||
Carlyle Group Inc. | 5,880,034 | 236,083 | ||||
Erie Indemnity Co. Class A | 638,594 | 231,426 | ||||
Blue Owl Capital Inc. Class A | 12,588,038 | 223,438 | ||||
American Financial Group Inc. | 1,791,911 | 220,441 | ||||
Assurant Inc. | 1,306,732 | 217,244 | ||||
First Horizon Corp. | 13,746,915 | 216,789 | ||||
Kinsale Capital Group Inc. | 555,821 | 214,147 | ||||
Unum Group | 4,046,525 | 206,818 | ||||
Morningstar Inc. | 698,297 | 206,591 | ||||
Stifel Financial Corp. | 2,446,590 | 205,881 | ||||
Primerica Inc. | 865,003 | 204,642 | ||||
SEI Investments Co. | 2,972,309 | 192,279 | ||||
MarketAxess Holdings Inc. | 952,579 | 191,021 | ||||
Globe Life Inc. | 2,317,130 | 190,653 | ||||
Old Republic International Corp. | 6,150,009 | 190,035 | ||||
Webster Financial Corp. | 4,310,645 | 187,901 | ||||
Jefferies Financial Group Inc. | 3,730,981 | 185,654 | ||||
Evercore Inc. Class A | 871,299 | 181,605 | ||||
Voya Financial Inc. | 2,531,387 | 180,108 | ||||
Houlihan Lokey Inc. Class A | 1,320,362 | 178,064 | ||||
1 | AGNC Investment Corp. | 18,270,857 | 174,304 | |||
Comerica Inc. | 3,332,762 | 170,104 | ||||
Western Alliance Bancorp | 2,629,409 | 165,179 | ||||
Commerce Bancshares Inc. | 2,930,510 | 163,464 | ||||
Zions Bancorp NA | 3,711,568 | 160,971 | ||||
Popular Inc. | 1,816,667 | 160,648 | ||||
*,1 | SoFi Technologies Inc. | 23,914,008 | 158,072 | |||
Invesco Ltd. | 10,462,830 | 156,524 | ||||
RLI Corp. | 1,091,555 | 153,571 | ||||
Wintrust Financial Corp. | 1,552,280 | 152,993 | ||||
Cullen/Frost Bankers Inc. | 1,453,614 | 147,731 | ||||
Pinnacle Financial Partners Inc. | 1,844,051 | 147,598 | ||||
SouthState Corp. | 1,915,153 | 146,356 | ||||
OneMain Holdings Inc. | 3,013,970 | 146,147 | ||||
MGIC Investment Corp. | 6,701,245 | 144,412 | ||||
Selective Insurance Group Inc. | 1,528,096 | 143,381 | ||||
Essent Group Ltd. | 2,547,326 | 143,134 | ||||
Starwood Property Trust Inc. | 7,545,036 | 142,903 | ||||
Jackson Financial Inc. Class A | 1,917,124 | 142,366 | ||||
Synovus Financial Corp. | 3,496,918 | 140,541 | ||||
Prosperity Bancshares Inc. | 2,290,848 | 140,062 | ||||
Ryan Specialty Holdings Inc. Class A | 2,394,069 | 138,641 |
Shares | Market Value• ($000) | |||||
Old National Bancorp | 8,016,990 | 137,812 | ||||
Axis Capital Holdings Ltd. | 1,915,274 | 135,314 | ||||
First American Financial Corp. | 2,476,870 | 133,627 | ||||
Lincoln National Corp. | 4,273,940 | 132,920 | ||||
Rithm Capital Corp. | 12,152,987 | 132,589 | ||||
Cadence Bank | 4,591,968 | 129,861 | ||||
*,1 | Marathon Digital Holdings Inc. | 6,515,796 | 129,339 | |||
* | Mr Cooper Group Inc. | 1,545,559 | 125,546 | |||
Affiliated Managers Group Inc. | 800,986 | 125,138 | ||||
FNB Corp. | 9,043,111 | 123,710 | ||||
Hamilton Lane Inc. Class A | 967,798 | 119,600 | ||||
Radian Group Inc. | 3,785,140 | 117,718 | ||||
Bank OZK | 2,851,377 | 116,906 | ||||
SLM Corp. | 5,522,996 | 114,823 | ||||
White Mountains Insurance Group Ltd. | 61,255 | 111,328 | ||||
United Bankshares Inc. | 3,398,389 | 110,244 | ||||
Janus Henderson Group plc | 3,226,910 | 108,779 | ||||
Home BancShares Inc. | 4,531,921 | 108,585 | ||||
Glacier Bancorp Inc. | 2,849,943 | 106,360 | ||||
Columbia Banking System Inc. | 5,263,035 | 104,682 | ||||
Hancock Whitney Corp. | 2,177,346 | 104,142 | ||||
Lazard Inc. Class A | 2,692,770 | 102,810 | ||||
Hanover Insurance Group Inc. | 813,104 | 101,996 | ||||
FirstCash Holdings Inc. | 971,603 | 101,902 | ||||
Moelis & Co. Class A | 1,768,256 | 100,543 | ||||
Assured Guaranty Ltd. | 1,300,236 | 100,313 | ||||
Piper Sandler Cos. | 422,637 | 97,278 | ||||
* | Enstar Group Ltd. | 306,243 | 93,618 | |||
Kemper Corp. | 1,537,096 | 91,196 | ||||
First Financial Bankshares Inc. | 3,052,655 | 90,145 | ||||
Ameris Bancorp | 1,650,273 | 83,091 | ||||
TPG Inc. Class A | 1,977,267 | 81,958 | ||||
UMB Financial Corp. | 980,337 | 81,780 | ||||
International Bancshares Corp. | 1,406,622 | 80,473 | ||||
Walker & Dunlop Inc. | 805,153 | 79,066 | ||||
ServisFirst Bancshares Inc. | 1,233,126 | 77,921 | ||||
Fulton Financial Corp. | 4,568,697 | 77,576 | ||||
United Community Banks Inc. | 2,994,553 | 76,241 | ||||
Associated Banc-Corp | 3,600,327 | 76,147 | ||||
BGC Group Inc. Class A | 9,167,534 | 76,090 | ||||
Valley National Bancorp | 10,879,306 | 75,938 | ||||
Atlantic Union Bankshares Corp. | 2,256,392 | 74,122 | ||||
* | Clearwater Analytics Holdings Inc. Class A | 3,976,991 | 73,654 | |||
First Bancorp | 3,974,771 | 72,699 | ||||
1 | Blackstone Mortgage Trust Inc. Class A | 4,145,157 | 72,209 | |||
* | Oscar Health Inc. Class A | 4,561,995 | 72,171 | |||
* | Texas Capital Bancshares Inc. | 1,172,755 | 71,702 | |||
CNO Financial Group Inc. | 2,585,301 | 71,665 | ||||
WSFS Financial Corp. | 1,510,593 | 70,998 | ||||
* | Axos Financial Inc. | 1,217,329 | 69,570 | |||
Artisan Partners Asset Management Inc. Class A | 1,669,238 | 68,889 | ||||
StepStone Group Inc. Class A | 1,484,182 | 68,109 | ||||
* | Brighthouse Financial Inc. | 1,561,301 | 67,667 | |||
First Hawaiian Inc. | 3,213,528 | 66,713 | ||||
* | Genworth Financial Inc. Class A | 11,003,463 | 66,461 | |||
Federated Hermes Inc. Class B | 2,016,406 | 66,299 | ||||
Cathay General Bancorp | 1,738,790 | 65,587 | ||||
* | Credit Acceptance Corp. | 121,774 | 62,675 | |||
Community Financial System Inc. | 1,326,536 | 62,626 | ||||
First Interstate BancSystem Inc. Class A | 2,234,167 | 62,043 | ||||
PennyMac Financial Services Inc. | 639,974 | 60,542 | ||||
1 | New York Community Bancorp Inc. | 18,564,416 | 59,777 | |||
*,1 | Riot Platforms Inc. | 6,529,559 | 59,680 | |||
* | Baldwin Insurance Group Inc. Class A | 1,662,479 | 58,968 | |||
PJT Partners Inc. Class A | 542,620 | 58,554 | ||||
WaFd Inc. | 2,045,739 | 58,467 | ||||
CVB Financial Corp. | 3,334,535 | 57,487 | ||||
1 | Arbor Realty Trust Inc. | 4,001,246 | 57,418 | |||
Bank of Hawaii Corp. | 997,808 | 57,085 | ||||
Eastern Bankshares Inc. | 3,995,928 | 55,863 |
Shares | Market Value• ($000) | |||||
Pacific Premier Bancorp Inc. | 2,423,973 | 55,679 | ||||
BankUnited Inc. | 1,879,105 | 55,001 | ||||
Simmons First National Corp. Class A | 2,996,598 | 52,680 | ||||
BOK Financial Corp. | 567,611 | 52,016 | ||||
Park National Corp. | 365,373 | 52,007 | ||||
Independent Bank Corp. | 1,014,154 | 51,438 | ||||
Cohen & Steers Inc. | 698,548 | 50,687 | ||||
First Financial Bancorp | 2,279,583 | 50,652 | ||||
First Merchants Corp. | 1,472,717 | 49,027 | ||||
Virtu Financial Inc. Class A | 2,113,248 | 47,442 | ||||
Towne Bank | 1,647,896 | 44,938 | ||||
Provident Financial Services Inc. | 3,108,858 | 44,612 | ||||
*,1 | Upstart Holdings Inc. | 1,877,558 | 44,292 | |||
OFG Bancorp | 1,181,455 | 44,245 | ||||
NBT Bancorp Inc. | 1,125,930 | 43,461 | ||||
Banner Corp. | 865,975 | 42,987 | ||||
Trustmark Corp. | 1,384,546 | 41,592 | ||||
Renasant Corp. | 1,345,361 | 41,087 | ||||
Independent Bank Group Inc. | 884,102 | 40,244 | ||||
BancFirst Corp. | 456,093 | 39,999 | ||||
WesBanco Inc. | 1,419,087 | 39,607 | ||||
Virtus Investment Partners Inc. | 170,208 | 38,441 | ||||
City Holding Co. | 352,526 | 37,456 | ||||
National Bank Holdings Corp. Class A | 950,809 | 37,129 | ||||
Mercury General Corp. | 695,930 | 36,982 | ||||
Northwest Bancshares Inc. | 3,198,984 | 36,948 | ||||
Hilltop Holdings Inc. | 1,148,408 | 35,922 | ||||
Apollo Commercial Real Estate Finance Inc. | 3,573,481 | 34,984 | ||||
Two Harbors Investment Corp. | 2,601,448 | 34,365 | ||||
WisdomTree Inc. | 3,433,997 | 34,031 | ||||
First Commonwealth Financial Corp. | 2,442,934 | 33,737 | ||||
Compass Diversified Holdings | 1,536,083 | 33,625 | ||||
Horace Mann Educators Corp. | 1,029,673 | 33,588 | ||||
* | Goosehead Insurance Inc. Class A | 570,858 | 32,790 | |||
Ladder Capital Corp. Class A | 2,864,558 | 32,341 | ||||
Hope Bancorp Inc. | 2,880,365 | 30,935 | ||||
Westamerica Bancorp | 637,089 | 30,918 | ||||
S&T Bancorp Inc. | 913,127 | 30,489 | ||||
PennyMac Mortgage Investment Trust | 2,182,939 | 30,015 | ||||
* | SiriusPoint Ltd. | 2,356,871 | 28,754 | |||
Navient Corp. | 1,967,733 | 28,650 | ||||
MFA Financial Inc. | 2,566,032 | 27,303 | ||||
Victory Capital Holdings Inc. Class A | 569,273 | 27,171 | ||||
Employers Holdings Inc. | 637,100 | 27,160 | ||||
Safety Insurance Group Inc. | 354,287 | 26,582 | ||||
Safehold Inc. | 1,346,755 | 25,979 | ||||
Franklin BSP Realty Trust Inc. | 2,058,005 | 25,931 | ||||
Chimera Investment Corp. | 2,022,898 | 25,893 | ||||
National Western Life Group Inc. Class A | 51,821 | 25,752 | ||||
Berkshire Hills Bancorp Inc. | 1,088,144 | 24,810 | ||||
Cannae Holdings Inc. | 1,341,333 | 24,332 | ||||
Enact Holdings Inc. | 790,773 | 24,245 | ||||
* | Palomar Holdings Inc. | 297,579 | 24,149 | |||
Claros Mortgage Trust Inc. | 2,964,501 | 23,775 | ||||
1 | ARMOUR Residential REIT Inc. | 1,225,454 | 23,749 | |||
* | Encore Capital Group Inc. | 565,669 | 23,605 | |||
*,1 | Trupanion Inc. | 792,201 | 23,291 | |||
* | Triumph Financial Inc. | 278,600 | 22,776 | |||
* | LendingClub Corp. | 2,653,603 | 22,449 | |||
*,1 | Lemonade Inc. | 1,329,121 | 21,930 | |||
Redwood Trust Inc. | 3,321,842 | 21,559 | ||||
Heartland Financial USA Inc. | 457,110 | 20,319 | ||||
Nelnet Inc. Class A | 194,034 | 19,570 | ||||
* | AssetMark Financial Holdings Inc. | 561,002 | 19,383 | |||
BrightSpire Capital Inc. Class A | 3,283,842 | 18,718 | ||||
* | PRA Group Inc. | 939,759 | 18,476 | |||
F&G Annuities & Life Inc. | 475,605 | 18,097 | ||||
TFS Financial Corp. | 1,411,095 | 17,808 | ||||
Brookline Bancorp Inc. | 2,122,864 | 17,726 | ||||
1 | UWM Holdings Corp. Class A | 2,286,515 | 15,846 |
Shares | Market Value• ($000) | |||||
* | ProAssurance Corp. | 1,282,270 | 15,669 | |||
Capitol Federal Financial Inc. | 2,836,336 | 15,571 | ||||
Live Oak Bancshares Inc. | 423,878 | 14,861 | ||||
* | Open Lending Corp. | 2,545,803 | 14,206 | |||
Tompkins Financial Corp. | 289,709 | 14,167 | ||||
* | Ambac Financial Group Inc. | 1,079,945 | 13,845 | |||
KKR Real Estate Finance Trust Inc. | 1,219,709 | 11,038 | ||||
GCM Grosvenor Inc. Class A | 1,060,708 | 10,352 | ||||
P10 Inc. Class A | 1,172,847 | 9,946 | ||||
* | Columbia Financial Inc. | 658,696 | 9,861 | |||
* | World Acceptance Corp. | 73,467 | 9,079 | |||
*,1 | Hagerty Inc. Class A | 753,539 | 7,837 | |||
Eagle Bancorp Inc. | 361,200 | 6,827 | ||||
TPG RE Finance Trust Inc. | 782,946 | 6,765 | ||||
United Fire Group Inc. | 223,094 | 4,794 | ||||
* | loanDepot Inc. Class A | 1,627,447 | 2,685 | |||
Associated Capital Group Inc. Class A | 30,840 | 1,049 | ||||
18,867,332 | ||||||
Health Care (10.6%) | ||||||
* | Sarepta Therapeutics Inc. | 2,257,190 | 356,636 | |||
* | United Therapeutics Corp. | 1,115,070 | 355,206 | |||
* | Neurocrine Biosciences Inc. | 2,529,622 | 348,253 | |||
* | Tenet Healthcare Corp. | 2,455,532 | 326,659 | |||
* | Natera Inc. | 2,932,376 | 317,547 | |||
Bio-Techne Corp. | 3,961,108 | 283,813 | ||||
* | Insmed Inc. | 4,052,652 | 271,528 | |||
* | Charles River Laboratories International Inc. | 1,294,837 | 267,487 | |||
Universal Health Services Inc. Class B | 1,425,123 | 263,548 | ||||
* | Medpace Holdings Inc. | 623,046 | 256,602 | |||
Teleflex Inc. | 1,183,973 | 249,025 | ||||
* | Catalent Inc. | 4,321,760 | 243,013 | |||
Encompass Health Corp. | 2,531,031 | 217,137 | ||||
Chemed Corp. | 380,534 | 206,470 | ||||
* | Henry Schein Inc. | 3,218,891 | 206,331 | |||
* | Exact Sciences Corp. | 4,638,320 | 195,969 | |||
* | Globus Medical Inc. Class A | 2,831,105 | 193,902 | |||
* | HealthEquity Inc. | 2,187,048 | 188,524 | |||
* | Vaxcyte Inc. | 2,461,253 | 185,849 | |||
* | Solventum Corp. | 3,473,059 | 183,655 | |||
* | Elanco Animal Health Inc. | 12,421,982 | 179,249 | |||
* | Insulet Corp. | 880,259 | 177,636 | |||
Ensign Group Inc. | 1,430,818 | 176,978 | ||||
* | Intra-Cellular Therapies Inc. | 2,521,011 | 172,664 | |||
Bruker Corp. | 2,662,848 | 169,916 | ||||
* | Blueprint Medicines Corp. | 1,573,931 | 169,638 | |||
* | Repligen Corp. | 1,334,272 | 168,198 | |||
* | DaVita Inc. | 1,212,468 | 168,012 | |||
* | Halozyme Therapeutics Inc. | 3,199,237 | 167,512 | |||
* | Penumbra Inc. | 925,703 | 166,599 | |||
* | Jazz Pharmaceuticals plc | 1,505,363 | 160,667 | |||
* | Masimo Corp. | 1,267,532 | 159,633 | |||
* | Ionis Pharmaceuticals Inc. | 3,301,842 | 157,366 | |||
* | Exelixis Inc. | 6,956,656 | 156,316 | |||
* | Cytokinetics Inc. | 2,882,134 | 156,154 | |||
* | Acadia Healthcare Co. Inc. | 2,215,397 | 149,628 | |||
* | REVOLUTION Medicines Inc. | 3,732,855 | 144,872 | |||
* | Glaukos Corp. | 1,202,717 | 142,342 | |||
* | Lantheus Holdings Inc. | 1,742,241 | 139,885 | |||
* | Viking Therapeutics Inc. | 2,630,437 | 139,439 | |||
* | Bio-Rad Laboratories Inc. Class A | 500,936 | 136,811 | |||
Organon & Co. | 6,464,338 | 133,812 | ||||
DENTSPLY SIRONA Inc. | 5,219,346 | 130,014 | ||||
*,1 | Madrigal Pharmaceuticals Inc. | 455,282 | 127,552 | |||
* | Option Care Health Inc. | 4,369,120 | 121,025 | |||
* | Merit Medical Systems Inc. | 1,387,517 | 119,257 | |||
* | Krystal Biotech Inc. | 645,999 | 118,631 | |||
* | Haemonetics Corp. | 1,277,985 | 105,728 | |||
* | Alkermes plc | 4,253,586 | 102,511 | |||
* | Inspire Medical Systems Inc. | 746,847 | 99,951 |
Shares | Market Value• ($000) | |||||
* | Apellis Pharmaceuticals Inc. | 2,593,325 | 99,480 | |||
* | Integer Holdings Corp. | 842,187 | 97,517 | |||
Select Medical Holdings Corp. | 2,614,715 | 91,672 | ||||
* | Bridgebio Pharma Inc. | 3,527,734 | 89,358 | |||
* | Ultragenyx Pharmaceutical Inc. | 2,162,806 | 88,891 | |||
Perrigo Co. plc | 3,426,635 | 87,996 | ||||
* | Prestige Consumer Healthcare Inc. | 1,254,704 | 86,386 | |||
* | Axonics Inc. | 1,282,404 | 86,216 | |||
* | Guardant Health Inc. | 2,922,134 | 84,391 | |||
* | iRhythm Technologies Inc. | 742,798 | 79,955 | |||
* | Hims & Hers Health Inc. | 3,890,715 | 78,554 | |||
* | Arrowhead Pharmaceuticals Inc. | 2,965,891 | 77,084 | |||
* | Axsome Therapeutics Inc. | 955,086 | 76,884 | |||
* | Neogen Corp. | 4,900,307 | 76,592 | |||
* | Amedisys Inc. | 821,280 | 75,394 | |||
* | PROCEPT BioRobotics Corp. | 1,227,700 | 75,000 | |||
* | Cerevel Therapeutics Holdings Inc. | 1,831,898 | 74,906 | |||
* | Amicus Therapeutics Inc. | 7,445,380 | 73,858 | |||
* | Doximity Inc. Class A | 2,628,036 | 73,506 | |||
* | Nuvalent Inc. Class A | 965,793 | 73,265 | |||
* | Envista Holdings Corp. | 4,319,980 | 71,841 | |||
* | ICU Medical Inc. | 581,840 | 69,094 | |||
* | Twist Bioscience Corp. | 1,390,389 | 68,518 | |||
* | Corcept Therapeutics Inc. | 2,093,569 | 68,020 | |||
* | Azenta Inc. | 1,287,638 | 67,756 | |||
* | Tandem Diabetes Care Inc. | 1,623,600 | 65,415 | |||
* | SpringWorks Therapeutics Inc. | 1,676,059 | 63,137 | |||
* | Denali Therapeutics Inc. | 2,688,379 | 62,424 | |||
* | Enovis Corp. | 1,378,537 | 62,310 | |||
* | TG Therapeutics Inc. | 3,495,966 | 62,193 | |||
* | Biohaven Ltd. | 1,775,441 | 61,626 | |||
* | Agios Pharmaceuticals Inc. | 1,427,090 | 61,536 | |||
* | CorVel Corp. | 236,691 | 60,183 | |||
* | Inari Medical Inc. | 1,242,153 | 59,810 | |||
* | TransMedics Group Inc. | 392,514 | 59,120 | |||
* | PTC Therapeutics Inc. | 1,927,839 | 58,953 | |||
* | STAAR Surgical Co. | 1,234,961 | 58,797 | |||
* | Progyny Inc. | 2,034,504 | 58,207 | |||
CONMED Corp. | 774,212 | 53,668 | ||||
* | Evolent Health Inc. Class A | 2,775,155 | 53,061 | |||
* | Myriad Genetics Inc. | 2,161,303 | 52,865 | |||
* | Fortrea Holdings Inc. | 2,249,671 | 52,507 | |||
* | Intellia Therapeutics Inc. | 2,303,821 | 51,560 | |||
* | Iovance Biotherapeutics Inc. | 6,330,643 | 50,772 | |||
* | agilon health Inc. | 7,753,068 | 50,705 | |||
* | ACADIA Pharmaceuticals Inc. | 3,114,814 | 50,616 | |||
Premier Inc. Class A | 2,635,500 | 49,205 | ||||
* | RadNet Inc. | 834,046 | 49,142 | |||
* | Integra LifeSciences Holdings Corp. | 1,683,638 | 49,061 | |||
Patterson Cos. Inc. | 2,026,909 | 48,889 | ||||
* | Privia Health Group Inc. | 2,698,951 | 46,908 | |||
* | R1 RCM Inc. | 3,706,068 | 46,548 | |||
* | 10X Genomics Inc. Class A | 2,390,097 | 46,487 | |||
* | Novocure Ltd. | 2,704,960 | 46,336 | |||
* | Surgery Partners Inc. | 1,916,767 | 45,600 | |||
* | NeoGenomics Inc. | 3,210,188 | 44,525 | |||
* | Beam Therapeutics Inc. | 1,862,110 | 43,629 | |||
* | Immunovant Inc. | 1,652,106 | 43,616 | |||
* | Astrana Health Inc. | 1,056,419 | 42,848 | |||
*,1 | Novavax Inc. | 3,351,815 | 42,434 | |||
* | Certara Inc. | 3,032,296 | 41,997 | |||
* | QuidelOrtho Corp. | 1,262,598 | 41,944 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 5,577,208 | 41,829 | |||
* | Teladoc Health Inc. | 4,262,847 | 41,691 | |||
* | Veracyte Inc. | 1,921,631 | 41,642 | |||
* | Arvinas Inc. | 1,548,128 | 41,211 | |||
* | Sotera Health Co. | 3,201,891 | 38,006 | |||
* | Kymera Therapeutics Inc. | 1,233,854 | 36,831 | |||
* | Ligand Pharmaceuticals Inc. | 428,958 | 36,144 | |||
* | Warby Parker Inc. Class A | 2,242,306 | 36,011 |
Shares | Market Value• ($000) | |||||
National HealthCare Corp. | 329,012 | 35,665 | ||||
* | Supernus Pharmaceuticals Inc. | 1,312,760 | 35,116 | |||
* | Pacira BioSciences Inc. | 1,111,493 | 31,800 | |||
* | Brookdale Senior Living Inc. | 4,608,764 | 31,478 | |||
* | Omnicell Inc. | 1,154,372 | 31,249 | |||
* | Xencor Inc. | 1,549,961 | 29,341 | |||
* | AtriCure Inc. | 1,155,342 | 26,307 | |||
* | Owens & Minor Inc. | 1,826,763 | 24,661 | |||
* | Vir Biotechnology Inc. | 2,736,002 | 24,350 | |||
* | Harmony Biosciences Holdings Inc. | 785,142 | 23,688 | |||
* | Avanos Medical Inc. | 1,153,939 | 22,986 | |||
*,1 | Waystar Holding Corp. | 1,047,338 | 22,518 | |||
* | Amneal Pharmaceuticals Inc. | 3,491,221 | 22,169 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 3,396,217 | 22,143 | |||
*,1 | ImmunityBio Inc. | 3,476,509 | 21,972 | |||
* | Innoviva Inc. | 1,334,329 | 21,883 | |||
* | Relay Therapeutics Inc. | 3,169,848 | 20,667 | |||
* | AdaptHealth Corp. Class A | 2,008,999 | 20,090 | |||
* | Rocket Pharmaceuticals Inc. | 912,669 | 19,650 | |||
* | Healthcare Services Group Inc. | 1,851,287 | 19,587 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 2,671,140 | 19,125 | |||
* | Alignment Healthcare Inc. | 2,402,921 | 18,791 | |||
*,1 | CG oncology Inc. | 584,892 | 18,465 | |||
* | Sana Biotechnology Inc. | 3,340,625 | 18,240 | |||
Embecta Corp. | 1,449,632 | 18,120 | ||||
*,1 | PACS Group Inc. | 579,346 | 17,091 | |||
HealthStream Inc. | 611,345 | 17,057 | ||||
* | Kiniksa Pharmaceuticals International plc Class A | 904,199 | 16,881 | |||
* | BioCryst Pharmaceuticals Inc. | 2,593,795 | 16,030 | |||
* | Pediatrix Medical Group Inc. | 2,115,162 | 15,969 | |||
* | Varex Imaging Corp. | 1,028,132 | 15,144 | |||
* | GoodRx Holdings Inc. Class A | 1,899,622 | 14,817 | |||
* | Sage Therapeutics Inc. | 1,361,358 | 14,784 | |||
* | Cytek Biosciences Inc. | 2,640,020 | 14,731 | |||
*,1 | BrightSpring Health Services Inc. | 1,290,921 | 14,665 | |||
* | Phreesia Inc. | 673,282 | 14,274 | |||
* | REGENXBIO Inc. | 1,114,307 | 13,037 | |||
*,1 | Ginkgo Bioworks Holdings Inc. Class A | 38,656,109 | 12,923 | |||
* | Silk Road Medical Inc. | 446,213 | 12,066 | |||
*,1 | LifeStance Health Group Inc. | 2,402,246 | 11,795 | |||
* | Day One Biopharmaceuticals Inc. | 768,878 | 10,595 | |||
*,1 | Summit Therapeutics Inc. | 1,320,832 | 10,303 | |||
* | CareDx Inc. | 621,927 | 9,659 | |||
* | Arcus Biosciences Inc. | 628,722 | 9,575 | |||
*,1 | Prime Medicine Inc. | 1,509,015 | 7,756 | |||
*,1 | OPKO Health Inc. | 6,133,475 | 7,667 | |||
* | Adaptive Biotechnologies Corp. | 1,670,091 | 6,046 | |||
* | AnaptysBio Inc. | 240,335 | 6,023 | |||
* | Zentalis Pharmaceuticals Inc. | 1,338,096 | 5,473 | |||
* | Editas Medicine Inc. | 1,035,625 | 4,836 | |||
*,1 | Pacific Biosciences of California Inc. | 3,429,427 | 4,698 | |||
*,1 | Verve Therapeutics Inc. | 845,819 | 4,128 | |||
* | ACELYRIN Inc. | 935,290 | 4,125 | |||
* | Treace Medical Concepts Inc. | 585,508 | 3,894 | |||
* | Lyell Immunopharma Inc. | 2,223,631 | 3,224 | |||
* | Innovage Holding Corp. | 517,986 | 2,569 | |||
*,1 | Multiplan Corp. | 4,064,520 | 1,579 | |||
* | Amylyx Pharmaceuticals Inc. | 642,775 | 1,221 | |||
*,1 | Tempus AI Inc. Class A | 26,471 | 927 | |||
*,1,2 | Synergy Pharmaceuticals LLC | 2,001,166 | — | |||
*,2 | OmniAb Inc. 12.5 Earnout | 156,690 | — | |||
*,2 | OmniAb Inc. 15 Earnout | 156,690 | — | |||
14,704,906 | ||||||
Industrials (22.0%) | ||||||
* | Axon Enterprise Inc. | 1,802,133 | 530,260 | |||
Booz Allen Hamilton Holding Corp. Class A | 3,250,719 | 500,286 | ||||
Carlisle Cos. Inc. | 1,196,557 | 484,857 | ||||
EMCOR Group Inc. | 1,181,299 | 431,269 | ||||
Lennox International Inc. | 805,908 | 431,145 |
Shares | Market Value• ($000) | |||||
* | Builders FirstSource Inc. | 3,068,102 | 424,656 | |||
Watsco Inc. | 873,407 | 404,597 | ||||
IDEX Corp. | 1,902,717 | 382,827 | ||||
Owens Corning | 2,178,284 | 378,411 | ||||
RPM International Inc. | 3,236,668 | 348,524 | ||||
Graco Inc. | 4,251,443 | 337,054 | ||||
Westrock Co. | 6,488,871 | 326,131 | ||||
Pentair plc | 4,173,287 | 319,966 | ||||
nVent Electric plc | 4,173,078 | 319,700 | ||||
* | Saia Inc. | 668,344 | 316,989 | |||
Advanced Drainage Systems Inc. | 1,946,231 | 312,156 | ||||
* | TopBuild Corp. | 799,775 | 308,129 | |||
Jack Henry & Associates Inc. | 1,830,683 | 303,930 | ||||
AECOM | 3,421,768 | 301,595 | ||||
Nordson Corp. | 1,295,597 | 300,501 | ||||
* | XPO Inc. | 2,777,928 | 294,877 | |||
Tetra Tech Inc. | 1,344,743 | 274,973 | ||||
Comfort Systems USA Inc. | 897,932 | 273,079 | ||||
Lincoln Electric Holdings Inc. | 1,430,523 | 269,854 | ||||
ITT Inc. | 2,068,743 | 267,240 | ||||
Woodward Inc. | 1,531,304 | 267,029 | ||||
Curtiss-Wright Corp. | 962,724 | 260,879 | ||||
Allegion plc | 2,197,953 | 259,688 | ||||
A O Smith Corp. | 3,036,097 | 248,292 | ||||
FTAI Aviation Ltd. | 2,393,381 | 247,069 | ||||
Hubbell Inc. Class B | 674,726 | 246,599 | ||||
CH Robinson Worldwide Inc. | 2,796,189 | 246,400 | ||||
Toro Co. | 2,624,438 | 245,411 | ||||
Huntington Ingalls Industries Inc. | 991,248 | 244,174 | ||||
* | Core & Main Inc. Class A | 4,829,866 | 236,374 | |||
AptarGroup Inc. | 1,665,612 | 234,535 | ||||
* | API Group Corp. | 6,203,960 | 233,455 | |||
Regal Rexnord Corp. | 1,672,051 | 226,095 | ||||
Crown Holdings Inc. | 3,035,392 | 225,803 | ||||
MKS Instruments Inc. | 1,689,047 | 220,556 | ||||
BWX Technologies Inc. | 2,297,701 | 218,282 | ||||
Donaldson Co. Inc. | 3,025,674 | 216,517 | ||||
Fortune Brands Innovations Inc. | 3,144,089 | 204,177 | ||||
WESCO International Inc. | 1,277,649 | 202,533 | ||||
* | Trex Co. Inc. | 2,732,128 | 202,505 | |||
Graphic Packaging Holding Co. | 7,724,187 | 202,451 | ||||
Cognex Corp. | 4,314,981 | 201,769 | ||||
* | Generac Holdings Inc. | 1,523,638 | 201,455 | |||
* | FTI Consulting Inc. | 897,326 | 193,401 | |||
Knight-Swift Transportation Holdings Inc. Class A | 3,859,199 | 192,651 | ||||
* | Axalta Coating Systems Ltd. | 5,546,238 | 189,515 | |||
Applied Industrial Technologies Inc. | 970,376 | 188,253 | ||||
* | Fluor Corp. | 4,303,115 | 187,401 | |||
Acuity Brands Inc. | 774,137 | 186,908 | ||||
* | WEX Inc. | 1,053,259 | 186,574 | |||
Eagle Materials Inc. | 852,546 | 185,395 | ||||
Simpson Manufacturing Co. Inc. | 1,059,728 | 178,596 | ||||
Oshkosh Corp. | 1,643,976 | 177,878 | ||||
Crane Co. | 1,221,148 | 177,042 | ||||
MSA Safety Inc. | 940,461 | 176,515 | ||||
* | Kirby Corp. | 1,465,470 | 175,461 | |||
* | ATI Inc. | 3,128,221 | 173,460 | |||
* | MasTec Inc. | 1,597,850 | 170,954 | |||
* | WillScot Mobile Mini Holdings Corp. | 4,541,482 | 170,941 | |||
* | Affirm Holdings Inc. Class A | 5,636,996 | 170,294 | |||
Allison Transmission Holdings Inc. | 2,198,905 | 166,897 | ||||
Landstar System Inc. | 898,922 | 165,833 | ||||
* | Middleby Corp. | 1,351,559 | 165,715 | |||
Berry Global Group Inc. | 2,731,863 | 160,770 | ||||
Robert Half Inc. | 2,505,787 | 160,320 | ||||
Littelfuse Inc. | 622,981 | 159,228 | ||||
Flowserve Corp. | 3,309,310 | 159,178 | ||||
* | SPX Technologies Inc. | 1,104,057 | 156,931 | |||
AGCO Corp. | 1,594,344 | 156,054 | ||||
* | Chart Industries Inc. | 1,075,880 | 155,293 |
Shares | Market Value• ($000) | |||||
* | Mohawk Industries Inc. | 1,364,508 | 154,994 | |||
* | AZEK Co. Inc. Class A | 3,665,562 | 154,430 | |||
* | GXO Logistics Inc. | 3,002,079 | 151,605 | |||
Vontier Corp. | 3,881,025 | 148,255 | ||||
Genpact Ltd. | 4,524,084 | 145,630 | ||||
* | Beacon Roofing Supply Inc. | 1,598,700 | 144,682 | |||
AAON Inc. | 1,653,154 | 144,221 | ||||
Sensata Technologies Holding plc | 3,789,095 | 141,674 | ||||
* | Paylocity Holding Corp. | 1,063,884 | 140,273 | |||
Valmont Industries Inc. | 507,584 | 139,306 | ||||
Badger Meter Inc. | 738,870 | 137,688 | ||||
Esab Corp. | 1,442,931 | 136,256 | ||||
Louisiana-Pacific Corp. | 1,621,483 | 133,497 | ||||
* | BILL Holdings Inc. | 2,534,521 | 133,366 | |||
Maximus Inc. | 1,528,255 | 130,971 | ||||
Ryder System Inc. | 1,046,605 | 129,653 | ||||
* | AeroVironment Inc. | 707,217 | 128,827 | |||
MDU Resources Group Inc. | 5,125,074 | 128,639 | ||||
Federal Signal Corp. | 1,535,848 | 128,504 | ||||
Sealed Air Corp. | 3,660,167 | 127,337 | ||||
Air Lease Corp. Class A | 2,659,452 | 126,404 | ||||
Watts Water Technologies Inc. Class A | 689,077 | 126,356 | ||||
Sonoco Products Co. | 2,469,760 | 125,266 | ||||
* | Modine Manufacturing Co. | 1,248,221 | 125,059 | |||
Installed Building Products Inc. | 607,751 | 125,002 | ||||
Armstrong World Industries Inc. | 1,099,926 | 124,556 | ||||
Brunswick Corp. | 1,698,462 | 123,597 | ||||
Atkore Inc. | 915,753 | 123,563 | ||||
* | ExlService Holdings Inc. | 3,879,157 | 121,650 | |||
Exponent Inc. | 1,273,684 | 121,153 | ||||
Moog Inc. Class A | 722,929 | 120,946 | ||||
GATX Corp. | 893,354 | 118,244 | ||||
* | Dycom Industries Inc. | 694,750 | 117,246 | |||
*,1 | Shift4 Payments Inc. Class A | 1,558,664 | 114,328 | |||
* | Itron Inc. | 1,152,983 | 114,099 | |||
* | Euronet Worldwide Inc. | 1,095,386 | 113,372 | |||
* | Summit Materials Inc. Class A | 3,065,517 | 112,229 | |||
Encore Wire Corp. | 377,222 | 109,330 | ||||
Brink's Co. | 1,061,761 | 108,724 | ||||
* | Verra Mobility Corp. Class A | 3,976,550 | 108,162 | |||
Matson Inc. | 815,938 | 106,863 | ||||
HB Fuller Co. | 1,368,342 | 105,308 | ||||
* | ACI Worldwide Inc. | 2,650,611 | 104,938 | |||
EnerSys | 1,009,185 | 104,471 | ||||
Western Union Co. | 8,504,671 | 103,927 | ||||
CSW Industrials Inc. | 389,946 | 103,457 | ||||
Zurn Elkay Water Solutions Corp. | 3,472,822 | 102,101 | ||||
* | Knife River Corp. | 1,422,966 | 99,807 | |||
* | ASGN Inc. | 1,096,184 | 96,651 | |||
* | Spirit AeroSystems Holdings Inc. Class A | 2,929,712 | 96,300 | |||
Belden Inc. | 1,022,505 | 95,911 | ||||
Franklin Electric Co. Inc. | 984,595 | 94,836 | ||||
Otter Tail Corp. | 1,051,078 | 92,064 | ||||
Herc Holdings Inc. | 677,438 | 90,296 | ||||
MSC Industrial Direct Co. Inc. Class A | 1,132,205 | 89,795 | ||||
* | CBIZ Inc. | 1,195,509 | 88,587 | |||
Korn Ferry | 1,311,654 | 88,064 | ||||
Terex Corp. | 1,598,999 | 87,689 | ||||
Silgan Holdings Inc. | 2,012,891 | 85,206 | ||||
ManpowerGroup Inc. | 1,199,147 | 83,700 | ||||
* | Gates Industrial Corp. plc | 5,256,177 | 83,100 | |||
Insperity Inc. | 899,213 | 82,017 | ||||
* | GMS Inc. | 1,001,334 | 80,718 | |||
ABM Industries Inc. | 1,590,910 | 80,452 | ||||
* | RXO Inc. | 2,954,716 | 77,266 | |||
Enpro Inc. | 526,660 | 76,666 | ||||
* | Alight Inc. Class A | 10,373,999 | 76,560 | |||
TriNet Group Inc. | 762,477 | 76,248 | ||||
John Bean Technologies Corp. | 800,128 | 75,988 | ||||
Crane NXT Co. | 1,220,581 | 74,968 |
Shares | Market Value• ($000) | |||||
ADT Inc. | 9,678,385 | 73,556 | ||||
* | Kratos Defense & Security Solutions Inc. | 3,584,551 | 71,727 | |||
Griffon Corp. | 1,120,987 | 71,586 | ||||
Hillenbrand Inc. | 1,764,492 | 70,615 | ||||
Mueller Water Products Inc. Class A | 3,914,135 | 70,141 | ||||
Brady Corp. Class A | 1,049,376 | 69,280 | ||||
Granite Construction Inc. | 1,109,777 | 68,773 | ||||
* | Resideo Technologies Inc. | 3,486,869 | 68,203 | |||
ESCO Technologies Inc. | 647,292 | 67,992 | ||||
Albany International Corp. Class A | 785,158 | 66,307 | ||||
McGrath RentCorp | 617,126 | 65,755 | ||||
UniFirst Corp. | 378,756 | 64,968 | ||||
Primoris Services Corp. | 1,280,902 | 63,904 | ||||
Hub Group Inc. Class A | 1,474,410 | 63,473 | ||||
Trinity Industries Inc. | 2,057,040 | 61,547 | ||||
* | AAR Corp. | 846,006 | 61,505 | |||
* | Marqeta Inc. Class A | 11,078,684 | 60,711 | |||
* | Atmus Filtration Technologies Inc. | 2,095,274 | 60,302 | |||
ArcBest Corp. | 559,570 | 59,919 | ||||
*,1 | Bloom Energy Corp. Class A | 4,850,971 | 59,376 | |||
* | OSI Systems Inc. | 407,096 | 55,984 | |||
Bread Financial Holdings Inc. | 1,246,410 | 55,540 | ||||
AZZ Inc. | 711,073 | 54,930 | ||||
Werner Enterprises Inc. | 1,514,372 | 54,260 | ||||
EVERTEC Inc. | 1,619,052 | 53,833 | ||||
* | Aurora Innovation Inc. Class A | 19,369,340 | 53,653 | |||
*,1 | Enovix Corp. | 3,418,451 | 52,849 | |||
Enerpac Tool Group Corp. Class A | 1,363,772 | 52,069 | ||||
* | Leonardo DRS Inc. | 1,984,343 | 50,621 | |||
* | Mirion Technologies Inc. Class A | 4,703,822 | 50,519 | |||
Barnes Group Inc. | 1,210,781 | 50,138 | ||||
* | AvidXchange Holdings Inc. | 4,154,413 | 50,102 | |||
*,1 | Joby Aviation Inc. | 9,792,345 | 49,941 | |||
* | NCR Atleos Corp. | 1,812,663 | 48,978 | |||
* | AMN Healthcare Services Inc. | 955,095 | 48,930 | |||
Standex International Corp. | 297,948 | 48,014 | ||||
* | Flywire Corp. | 2,919,146 | 47,845 | |||
Tennant Co. | 477,725 | 47,027 | ||||
Kennametal Inc. | 1,977,452 | 46,549 | ||||
* | Janus International Group Inc. | 3,485,952 | 44,028 | |||
* | Remitly Global Inc. | 3,627,986 | 43,971 | |||
* | Hillman Solutions Corp. | 4,927,784 | 43,611 | |||
* | O-I Glass Inc. | 3,914,222 | 43,565 | |||
Kadant Inc. | 147,591 | 43,359 | ||||
* | Hayward Holdings Inc. | 3,510,500 | 43,179 | |||
* | Huron Consulting Group Inc. | 430,073 | 42,362 | |||
UL Solutions Inc. Class A | 976,799 | 41,211 | ||||
Vestis Corp. | 3,304,238 | 40,411 | ||||
Helios Technologies Inc. | 834,456 | 39,845 | ||||
*,1 | Rocket Lab USA Inc. | 8,050,069 | 38,640 | |||
Greenbrier Cos. Inc. | 743,422 | 36,837 | ||||
* | Payoneer Global Inc. | 6,568,725 | 36,391 | |||
Greif Inc. Class A | 631,283 | 36,280 | ||||
Apogee Enterprises Inc. | 556,222 | 34,950 | ||||
International Seaways Inc. | 589,506 | 34,857 | ||||
* | CoreCivic Inc. | 2,656,865 | 34,486 | |||
H&E Equipment Services Inc. | 780,489 | 34,474 | ||||
* | Mercury Systems Inc. | 1,268,020 | 34,224 | |||
Lindsay Corp. | 277,460 | 34,094 | ||||
* | Cimpress plc | 383,880 | 33,632 | |||
REV Group Inc. | 1,236,844 | 30,785 | ||||
* | Legalzoom.com Inc. | 3,547,931 | 29,767 | |||
* | JELD-WEN Holding Inc. | 2,161,197 | 29,111 | |||
Kforce Inc. | 465,474 | 28,920 | ||||
* | Gibraltar Industries Inc. | 382,942 | 26,251 | |||
TriMas Corp. | 1,023,898 | 26,171 | ||||
* | Thermon Group Holdings Inc. | 848,778 | 26,108 | |||
Deluxe Corp. | 1,106,710 | 24,857 | ||||
Wabash National Corp. | 1,075,157 | 23,481 | ||||
Quanex Building Products Corp. | 832,323 | 23,014 |
Shares | Market Value• ($000) | |||||
Schneider National Inc. Class B | 930,686 | 22,485 | ||||
* | Air Transport Services Group Inc. | 1,569,449 | 21,768 | |||
Pitney Bowes Inc. | 4,271,361 | 21,699 | ||||
*,1 | PureCycle Technologies Inc. | 3,517,100 | 20,821 | |||
First Advantage Corp. | 1,277,439 | 20,528 | ||||
* | Proto Labs Inc. | 636,430 | 19,659 | |||
Gorman-Rupp Co. | 527,087 | 19,349 | ||||
* | Vicor Corp. | 577,253 | 19,142 | |||
* | BrightView Holdings Inc. | 1,424,570 | 18,947 | |||
*,1 | Loar Holdings Inc. | 337,814 | 18,043 | |||
Hyster-Yale Inc. | 246,908 | 17,217 | ||||
Astec Industries Inc. | 572,263 | 16,973 | ||||
Kelly Services Inc. Class A | 769,000 | 16,464 | ||||
* | American Woodmark Corp. | 199,158 | 15,654 | |||
* | Triumph Group Inc. | 966,094 | 14,888 | |||
Heartland Express Inc. | 1,092,849 | 13,475 | ||||
* | Sterling Check Corp. | 859,760 | 12,724 | |||
* | Conduent Inc. | 3,857,543 | 12,576 | |||
* | ZipRecruiter Inc. Class A | 1,349,499 | 12,267 | |||
Pactiv Evergreen Inc. | 900,583 | 10,195 | ||||
*,1 | Centuri Holdings Inc. | 454,100 | 8,846 | |||
* | Paymentus Holdings Inc. Class A | 440,426 | 8,368 | |||
Kronos Worldwide Inc. | 578,261 | 7,257 | ||||
1 | Forward Air Corp. | 299,699 | 5,706 | |||
* | TaskUS Inc. Class A | 408,029 | 5,431 | |||
National Presto Industries Inc. | 67,029 | 5,036 | ||||
*,1 | Nikola Corp. | 539,745 | 4,421 | |||
Greif Inc. Class B | 39,247 | 2,453 | ||||
*,1 | Virgin Galactic Holdings Inc. | 233,076 | 1,965 | |||
TTEC Holdings Inc. | 239,593 | 1,409 | ||||
*,2 | GCI Liberty Inc. | 12,245 | — | |||
30,455,620 | ||||||
Real Estate (7.0%) | ||||||
Kimco Realty Corp. | 16,944,869 | 329,747 | ||||
Gaming & Leisure Properties Inc. | 6,483,156 | 293,103 | ||||
Camden Property Trust | 2,677,956 | 292,192 | ||||
American Homes 4 Rent Class A | 7,783,503 | 289,235 | ||||
Regency Centers Corp. | 4,639,708 | 288,590 | ||||
Equity LifeStyle Properties Inc. | 4,219,064 | 274,788 | ||||
Lamar Advertising Co. Class A | 2,206,694 | 263,766 | ||||
CubeSmart | 5,653,742 | 255,380 | ||||
* | Jones Lang LaSalle Inc. | 1,195,450 | 245,402 | |||
Rexford Industrial Realty Inc. | 5,043,807 | 224,903 | ||||
Boston Properties Inc. | 3,552,894 | 218,716 | ||||
Omega Healthcare Investors Inc. | 6,211,120 | 212,731 | ||||
Federal Realty Investment Trust | 2,080,647 | 210,083 | ||||
EastGroup Properties Inc. | 1,210,152 | 205,847 | ||||
NNN REIT Inc. | 4,608,707 | 196,331 | ||||
Americold Realty Trust Inc. | 7,139,793 | 182,350 | ||||
Brixmor Property Group Inc. | 7,555,915 | 174,466 | ||||
Healthpeak Properties Inc. | 8,845,416 | 173,370 | ||||
UDR Inc. | 4,138,809 | 170,312 | ||||
STAG Industrial Inc. | 4,569,396 | 164,772 | ||||
Host Hotels & Resorts Inc. | 8,843,061 | 158,998 | ||||
First Industrial Realty Trust Inc. | 3,326,587 | 158,046 | ||||
Healthcare Realty Trust Inc. Class A | 9,515,444 | 156,815 | ||||
Agree Realty Corp. | 2,529,366 | 156,669 | ||||
Terreno Realty Corp. | 2,430,654 | 143,846 | ||||
Ryman Hospitality Properties Inc. | 1,430,149 | 142,815 | ||||
* | Zillow Group Inc. Class C | 2,958,047 | 137,224 | |||
Kite Realty Group Trust | 5,516,160 | 123,452 | ||||
Essential Properties Realty Trust Inc. | 4,406,096 | 122,093 | ||||
Vornado Realty Trust | 4,309,292 | 113,291 | ||||
Rayonier Inc. | 3,736,509 | 108,695 | ||||
Independence Realty Trust Inc. | 5,657,720 | 106,026 | ||||
Phillips Edison & Co. Inc. | 3,071,667 | 100,474 | ||||
1 | SL Green Realty Corp. | 1,655,408 | 93,762 | |||
Kilroy Realty Corp. | 2,950,198 | 91,958 | ||||
CareTrust REIT Inc. | 3,570,435 | 89,618 |
Shares | Market Value• ($000) | |||||
Sabra Health Care REIT Inc. | 5,818,994 | 89,612 | ||||
Cousins Properties Inc. | 3,822,564 | 88,492 | ||||
* | Zillow Group Inc. Class A | 1,927,428 | 86,811 | |||
1 | Hannon Armstrong Sustainable Infrastructure Capital Inc. | 2,866,328 | 84,843 | |||
Macerich Co. | 5,423,245 | 83,735 | ||||
EPR Properties | 1,902,125 | 79,851 | ||||
Apple Hospitality REIT Inc. | 5,482,589 | 79,717 | ||||
PotlatchDeltic Corp. | 1,998,556 | 78,723 | ||||
Innovative Industrial Properties Inc. | 712,060 | 77,771 | ||||
Park Hotels & Resorts Inc. | 5,028,980 | 75,334 | ||||
Broadstone Net Lease Inc. | 4,736,464 | 75,168 | ||||
Tanger Inc. | 2,744,427 | 74,401 | ||||
COPT Defense Properties | 2,831,187 | 70,865 | ||||
National Health Investors Inc. | 1,036,986 | 70,235 | ||||
Highwoods Properties Inc. | 2,664,021 | 69,984 | ||||
National Storage Affiliates Trust | 1,696,225 | 69,918 | ||||
SITE Centers Corp. | 4,740,467 | 68,737 | ||||
1 | Medical Properties Trust Inc. | 15,059,356 | 64,906 | |||
LXP Industrial Trust | 7,028,185 | 64,097 | ||||
DigitalBridge Group Inc. | 4,363,246 | 59,776 | ||||
* | Cushman & Wakefield plc | 5,468,954 | 56,877 | |||
Douglas Emmett Inc. | 4,206,914 | 55,994 | ||||
Urban Edge Properties | 2,985,556 | 55,143 | ||||
Sunstone Hotel Investors Inc. | 5,119,856 | 53,554 | ||||
St. Joe Co. | 953,909 | 52,179 | ||||
Outfront Media Inc. | 3,544,259 | 50,683 | ||||
* | Equity Commonwealth | 2,562,278 | 49,708 | |||
* | Howard Hughes Holdings Inc. | 757,753 | 49,118 | |||
* | GEO Group Inc. | 3,254,516 | 46,735 | |||
Acadia Realty Trust | 2,593,586 | 46,477 | ||||
* | Compass Inc. Class A | 12,426,660 | 44,736 | |||
Global Net Lease Inc. | 5,790,983 | 42,564 | ||||
DiamondRock Hospitality Co. | 5,016,827 | 42,392 | ||||
Pebblebrook Hotel Trust | 3,029,068 | 41,650 | ||||
InvenTrust Properties Corp. | 1,620,858 | 40,132 | ||||
Retail Opportunity Investments Corp. | 3,043,523 | 37,831 | ||||
LTC Properties Inc. | 1,092,777 | 37,701 | ||||
Xenia Hotels & Resorts Inc. | 2,563,185 | 36,730 | ||||
RLJ Lodging Trust | 3,722,931 | 35,852 | ||||
Elme Communities | 2,212,162 | 35,240 | ||||
JBG SMITH Properties | 2,310,155 | 35,184 | ||||
Newmark Group Inc. Class A | 3,229,963 | 33,043 | ||||
Getty Realty Corp. | 1,220,892 | 32,549 | ||||
Alexander & Baldwin Inc. | 1,824,736 | 30,948 | ||||
Empire State Realty Trust Inc. Class A | 3,298,556 | 30,940 | ||||
Veris Residential Inc. | 1,970,604 | 29,559 | ||||
* | Opendoor Technologies Inc. | 14,776,490 | 27,189 | |||
* | Apartment Investment & Management Co. Class A | 3,276,502 | 27,162 | |||
American Assets Trust Inc. | 1,148,040 | 25,693 | ||||
Centerspace | 374,831 | 25,350 | ||||
Kennedy-Wilson Holdings Inc. | 2,592,136 | 25,196 | ||||
Piedmont Office Realty Trust Inc. Class A | 3,114,267 | 22,578 | ||||
1 | eXp World Holdings Inc. | 1,945,840 | 21,959 | |||
Paramount Group Inc. | 4,643,590 | 21,500 | ||||
Service Properties Trust | 4,166,542 | 21,416 | ||||
Brandywine Realty Trust | 4,114,122 | 18,431 | ||||
Marcus & Millichap Inc. | 582,891 | 18,373 | ||||
* | Redfin Corp. | 2,852,329 | 17,142 | |||
Hudson Pacific Properties Inc. | 3,547,903 | 17,065 | ||||
Uniti Group Inc. | 5,737,703 | 16,754 | ||||
* | Forestar Group Inc. | 445,016 | 14,236 | |||
Alexander's Inc. | 51,349 | 11,546 | ||||
Saul Centers Inc. | 301,376 | 11,082 | ||||
RMR Group Inc. Class A | 375,245 | 8,481 | ||||
Summit Hotel Properties Inc. | 1,291,904 | 7,738 | ||||
Bridge Investment Group Holdings Inc. Class A | 941,265 | 6,984 | ||||
Universal Health Realty Income Trust | 156,709 | 6,134 | ||||
* | Anywhere Real Estate Inc. | 1,180,461 | 3,907 |
Shares | Market Value• ($000) | |||||
*,2 | Spirit MTA REIT | 529,410 | 48 | |||
9,662,325 | ||||||
Technology (13.1%) | ||||||
* | PTC Inc. | 2,859,440 | 519,474 | |||
Entegris Inc. | 3,790,399 | 513,220 | ||||
* | Pure Storage Inc. Class A | 7,762,787 | 498,449 | |||
* | AppLovin Corp. Class A | 4,817,867 | 400,943 | |||
* | Manhattan Associates Inc. | 1,547,665 | 381,778 | |||
* | Nutanix Inc. Class A | 6,141,557 | 349,148 | |||
* | Dynatrace Inc. | 7,100,327 | 317,669 | |||
Jabil Inc. | 2,880,157 | 313,332 | ||||
* | Guidewire Software Inc. | 2,094,381 | 288,794 | |||
* | Qorvo Inc. | 2,403,819 | 278,939 | |||
* | Coherent Corp. | 3,832,327 | 277,690 | |||
* | DocuSign Inc. Class A | 5,163,402 | 276,242 | |||
*,1 | MicroStrategy Inc. Class A | 198,589 | 273,552 | |||
* | Onto Innovation Inc. | 1,238,595 | 271,946 | |||
* | Toast Inc. Class A | 10,247,137 | 264,069 | |||
* | F5 Inc. | 1,473,292 | 253,745 | |||
Leidos Holdings Inc. | 1,699,373 | 247,905 | ||||
* | Elastic NV | 2,153,559 | 245,312 | |||
* | CACI International Inc. Class A | 560,439 | 241,062 | |||
Universal Display Corp. | 1,132,818 | 238,175 | ||||
* | Fabrinet | 908,590 | 222,414 | |||
* | Twilio Inc. Class A | 3,869,136 | 219,806 | |||
KBR Inc. | 3,375,269 | 216,490 | ||||
* | Match Group Inc. | 6,678,303 | 202,887 | |||
* | Lattice Semiconductor Corp. | 3,457,476 | 200,499 | |||
TD SYNNEX Corp. | 1,652,445 | 190,692 | ||||
*,1 | Dayforce Inc. | 3,714,869 | 184,257 | |||
Paycom Software Inc. | 1,240,388 | 177,425 | ||||
* | SPS Commerce Inc. | 930,856 | 175,150 | |||
* | Cirrus Logic Inc. | 1,346,550 | 171,901 | |||
* | Procore Technologies Inc. | 2,574,250 | 170,699 | |||
* | Samsara Inc. Class A | 4,913,343 | 165,580 | |||
* | Insight Enterprises Inc. | 818,355 | 162,329 | |||
* | MACOM Technology Solutions Holdings Inc. | 1,450,004 | 161,632 | |||
* | Arrow Electronics Inc. | 1,338,025 | 161,580 | |||
* | Rambus Inc. | 2,709,227 | 159,194 | |||
* | Confluent Inc. Class A | 5,226,606 | 154,342 | |||
* | Kyndryl Holdings Inc. | 5,794,361 | 152,450 | |||
Science Applications International Corp. | 1,288,796 | 151,498 | ||||
* | Novanta Inc. | 902,226 | 147,162 | |||
* | Smartsheet Inc. Class A | 3,287,276 | 144,903 | |||
* | SentinelOne Inc. Class A | 6,844,262 | 144,072 | |||
* | Altair Engineering Inc. Class A | 1,431,435 | 140,395 | |||
* | Gitlab Inc. Class A | 2,790,436 | 138,740 | |||
* | Dropbox Inc. Class A | 5,978,660 | 134,340 | |||
* | CommVault Systems Inc. | 1,090,983 | 132,631 | |||
* | UiPath Inc. Class A | 10,394,627 | 131,804 | |||
* | Tenable Holdings Inc. | 2,987,860 | 130,211 | |||
* | EPAM Systems Inc. | 690,878 | 129,961 | |||
* | CCC Intelligent Solutions Holdings Inc. | 11,585,344 | 128,713 | |||
* | Varonis Systems Inc. Class B | 2,662,540 | 127,722 | |||
* | Aspen Technology Inc. | 636,771 | 126,482 | |||
* | Qualys Inc. | 882,084 | 125,785 | |||
* | Appfolio Inc. Class A | 505,083 | 123,528 | |||
* | HashiCorp Inc. Class A | 3,638,758 | 122,590 | |||
Dolby Laboratories Inc. Class A | 1,501,907 | 118,996 | ||||
* | FormFactor Inc. | 1,939,816 | 117,417 | |||
Avnet Inc. | 2,271,821 | 116,976 | ||||
* | Axcelis Technologies Inc. | 817,778 | 116,280 | |||
* | Unity Software Inc. | 6,870,582 | 111,716 | |||
Amkor Technology Inc. | 2,785,139 | 111,461 | ||||
* | Maplebear Inc. | 3,320,344 | 106,716 | |||
* | Credo Technology Group Holding Ltd. | 3,283,986 | 104,891 | |||
Advanced Energy Industries Inc. | 941,187 | 102,363 | ||||
* | ZoomInfo Technologies Inc. Class A | 7,990,391 | 102,037 | |||
Power Integrations Inc. | 1,426,844 | 100,150 |
Shares | Market Value• ($000) | |||||
* | Blackbaud Inc. | 1,297,807 | 98,854 | |||
* | Parsons Corp. | 1,201,658 | 98,308 | |||
* | Box Inc. Class A | 3,476,507 | 91,919 | |||
Concentrix Corp. | 1,410,020 | 89,226 | ||||
* | Workiva Inc. Class A | 1,217,384 | 88,857 | |||
* | Sanmina Corp. | 1,324,201 | 87,728 | |||
* | Synaptics Inc. | 992,848 | 87,569 | |||
* | Impinj Inc. | 557,270 | 87,363 | |||
* | Q2 Holdings Inc. | 1,435,129 | 86,581 | |||
* | DXC Technology Co. | 4,497,555 | 85,858 | |||
* | IAC Inc. | 1,816,751 | 85,115 | |||
* | Silicon Laboratories Inc. | 762,420 | 84,347 | |||
* | Teradata Corp. | 2,430,797 | 84,008 | |||
* | Five9 Inc. | 1,856,770 | 81,884 | |||
* | JFrog Ltd. | 2,180,195 | 81,866 | |||
* | Diodes Inc. | 1,101,407 | 79,224 | |||
* | Envestnet Inc. | 1,246,732 | 78,033 | |||
*,1 | C3.ai Inc. Class A | 2,681,861 | 77,667 | |||
Dun & Bradstreet Holdings Inc. | 8,343,968 | 77,265 | ||||
* | Alarm.com Holdings Inc. | 1,198,508 | 76,153 | |||
*,1 | Wolfspeed Inc. | 3,163,573 | 72,003 | |||
* | Zeta Global Holdings Corp. Class A | 4,052,749 | 71,531 | |||
* | Plexus Corp. | 688,446 | 71,034 | |||
Vishay Intertechnology Inc. | 3,145,550 | 70,146 | ||||
* | BlackLine Inc. | 1,398,493 | 67,757 | |||
* | Rapid7 Inc. | 1,566,452 | 67,718 | |||
* | DoubleVerify Holdings Inc. | 3,454,687 | 67,263 | |||
* | Freshworks Inc. Class A | 5,245,460 | 66,565 | |||
* | Veeco Instruments Inc. | 1,423,685 | 66,500 | |||
* | Perficient Inc. | 883,707 | 66,092 | |||
Pegasystems Inc. | 1,068,660 | 64,686 | ||||
* | Squarespace Inc. Class A | 1,465,323 | 63,932 | |||
* | Ziff Davis Inc. | 1,159,389 | 63,824 | |||
* | nCino Inc. | 2,024,346 | 63,666 | |||
* | Yelp Inc. Class A | 1,611,009 | 59,527 | |||
Progress Software Corp. | 1,086,405 | 58,948 | ||||
* | IPG Photonics Corp. | 687,275 | 57,999 | |||
* | Rogers Corp. | 468,978 | 56,563 | |||
* | RingCentral Inc. Class A | 1,964,122 | 55,388 | |||
* | Cargurus Inc. Class A | 2,106,425 | 55,188 | |||
* | Allegro MicroSystems Inc. | 1,948,062 | 55,013 | |||
* | Braze Inc. Class A | 1,388,730 | 53,938 | |||
* | SiTime Corp. | 431,171 | 53,629 | |||
* | Ambarella Inc. | 978,149 | 52,771 | |||
* | Vertex Inc. Class A | 1,387,762 | 50,029 | |||
* | PagerDuty Inc. | 2,162,310 | 49,582 | |||
* | Informatica Inc. Class A | 1,605,501 | 49,578 | |||
* | LiveRamp Holdings Inc. | 1,579,728 | 48,877 | |||
* | Semtech Corp. | 1,622,884 | 48,492 | |||
* | DigitalOcean Holdings Inc. | 1,373,860 | 47,742 | |||
* | Verint Systems Inc. | 1,473,974 | 47,462 | |||
* | TTM Technologies Inc. | 2,430,376 | 47,222 | |||
* | Magnite Inc. | 3,343,684 | 44,438 | |||
* | Intapp Inc. | 1,199,583 | 43,989 | |||
Clear Secure Inc. Class A | 2,338,171 | 43,747 | ||||
* | NCR Voyix Corp. | 3,462,736 | 42,765 | |||
* | Sprout Social Inc. Class A | 1,189,596 | 42,445 | |||
*,1 | Reddit Inc. Class A | 656,142 | 41,921 | |||
*,1 | Klaviyo Inc. Class A | 1,589,491 | 39,562 | |||
* | MaxLinear Inc. Class A | 1,880,541 | 37,874 | |||
* | Everbridge Inc. | 1,046,085 | 36,603 | |||
* | AvePoint Inc. | 3,493,174 | 36,399 | |||
*,1 | Astera Labs Inc. | 586,161 | 35,469 | |||
* | Zuora Inc. Class A | 3,459,859 | 34,356 | |||
Benchmark Electronics Inc. | 860,709 | 33,964 | ||||
Xerox Holdings Corp. | 2,780,431 | 32,309 | ||||
* | Upwork Inc. | 2,999,625 | 32,246 | |||
* | Jamf Holding Corp. | 1,937,275 | 31,965 | |||
* | Alkami Technology Inc. | 1,102,750 | 31,406 | |||
* | NetScout Systems Inc. | 1,705,402 | 31,192 |
Shares | Market Value• ($000) | |||||
* | Schrodinger Inc. | 1,596,542 | 30,877 | |||
* | PROS Holdings Inc. | 1,063,362 | 30,465 | |||
* | Appian Corp. Class A | 980,182 | 30,248 | |||
* | Asana Inc. Class A | 2,150,453 | 30,085 | |||
*,1 | IonQ Inc. | 4,251,930 | 29,891 | |||
CSG Systems International Inc. | 708,889 | 29,185 | ||||
Adeia Inc. | 2,591,176 | 28,982 | ||||
* | Sprinklr Inc. Class A | 2,895,886 | 27,858 | |||
* | Paycor HCM Inc. | 2,015,897 | 25,602 | |||
* | Bumble Inc. Class A | 2,379,570 | 25,009 | |||
* | ScanSource Inc. | 559,110 | 24,774 | |||
* | N-able Inc. | 1,625,569 | 24,757 | |||
Shutterstock Inc. | 630,677 | 24,407 | ||||
* | E2open Parent Holdings Inc. | 5,393,496 | 24,217 | |||
* | Fastly Inc. Class A | 3,090,293 | 22,775 | |||
*,1 | Trump Media & Technology Group Corp. | 685,897 | 22,463 | |||
* | PubMatic Inc. Class A | 1,042,074 | 21,165 | |||
*,1 | Rubrik Inc. Class A | 677,825 | 20,782 | |||
* | Couchbase Inc. | 946,279 | 17,279 | |||
* | SEMrush Holdings Inc. Class A | 1,223,493 | 16,383 | |||
* | Amplitude Inc. Class A | 1,780,312 | 15,845 | |||
SolarWinds Corp. | 1,268,353 | 15,284 | ||||
* | NerdWallet Inc. Class A | 1,040,660 | 15,194 | |||
* | Matterport Inc. | 3,363,312 | 15,034 | |||
* | Vimeo Inc. | 3,617,107 | 13,492 | |||
* | Yext Inc. | 2,511,066 | 13,434 | |||
* | Ibotta Inc. Class A | 177,252 | 13,322 | |||
*,1 | BigCommerce Holdings Inc. | 1,651,120 | 13,308 | |||
* | Xometry Inc. Class A | 1,101,332 | 12,731 | |||
* | nLight Inc. | 1,140,008 | 12,460 | |||
*,1 | Rumble Inc. | 2,056,576 | 11,414 | |||
* | Nextdoor Holdings Inc. | 4,040,236 | 11,232 | |||
* | Olo Inc. Class A | 2,522,642 | 11,150 | |||
* | MeridianLink Inc. | 482,315 | 10,302 | |||
*,1 | Getty Images Holdings Inc. | 3,080,262 | 10,042 | |||
* | MediaAlpha Inc. Class A | 713,172 | 9,392 | |||
* | Thoughtworks Holding Inc. | 2,419,058 | 6,870 | |||
* | Definitive Healthcare Corp. Class A | 1,178,287 | 6,433 | |||
* | Enfusion Inc. Class A | 693,137 | 5,906 | |||
* | CEVA Inc. | 282,160 | 5,443 | |||
* | SmartRent Inc. Class A | 2,160,392 | 5,163 | |||
* | 3D Systems Corp. | 1,598,459 | 4,907 | |||
* | Planet Labs PBC | 2,546,305 | 4,736 | |||
* | Eventbrite Inc. Class A | 974,782 | 4,718 | |||
Methode Electronics Inc. | 423,390 | 4,382 | ||||
* | Cerence Inc. | 499,858 | 1,415 | |||
* | SecureWorks Corp. Class A | 104,039 | 728 | |||
18,222,992 | ||||||
Telecommunications (1.2%) | ||||||
Juniper Networks Inc. | 8,168,904 | 297,838 | ||||
* | Roku Inc. Class A | 3,188,145 | 191,066 | |||
* | Ciena Corp. | 3,634,853 | 175,127 | |||
* | Frontier Communications Parent Inc. | 6,247,645 | 163,563 | |||
* | Liberty Broadband Corp. Class C | 2,920,888 | 160,123 | |||
* | Lumentum Holdings Inc. | 1,699,241 | 86,525 | |||
1 | InterDigital Inc. | 634,371 | 73,942 | |||
Iridium Communications Inc. | 2,747,141 | 73,129 | ||||
Cogent Communications Holdings Inc. | 1,109,056 | 62,595 | ||||
* | EchoStar Corp. Class A | 2,995,003 | 53,341 | |||
* | Calix Inc. | 1,400,017 | 49,603 | |||
Telephone & Data Systems Inc. | 2,265,320 | 46,960 | ||||
1 | Cable One Inc. | 113,036 | 40,015 | |||
* | Viavi Solutions Inc. | 5,611,421 | 38,551 | |||
* | Viasat Inc. | 2,847,353 | 36,161 | |||
*,1 | Infinera Corp. | 5,299,417 | 32,273 | |||
* | Lumen Technologies Inc. | 25,514,271 | 28,066 | |||
* | Liberty Broadband Corp. Class A | 415,905 | 22,708 | |||
* | Globalstar Inc. | 19,104,124 | 21,397 | |||
Shenandoah Telecommunications Co. | 1,302,415 | 21,268 |
Shares | Market Value• ($000) | |||||
* | Extreme Networks Inc. | 1,551,560 | 20,869 | |||
* | United States Cellular Corp. | 326,773 | 18,241 | |||
*,1 | Altice USA Inc. Class A | 5,540,122 | 11,302 | |||
* | Gogo Inc. | 719,059 | 6,917 | |||
1,731,580 | ||||||
Utilities (3.1%) | ||||||
Atmos Energy Corp. | 3,792,544 | 442,400 | ||||
NRG Energy Inc. | 5,241,236 | 408,083 | ||||
* | Clean Harbors Inc. | 1,220,183 | 275,944 | |||
Essential Utilities Inc. | 6,187,831 | 230,992 | ||||
Pinnacle West Capital Corp. | 2,854,427 | 218,021 | ||||
OGE Energy Corp. | 5,034,514 | 179,732 | ||||
NiSource Inc. | 5,634,335 | 162,325 | ||||
AES Corp. | 8,931,728 | 156,931 | ||||
Evergy Inc. | 2,743,420 | 145,319 | ||||
* | Casella Waste Systems Inc. Class A | 1,435,780 | 142,458 | |||
* | Stericycle Inc. | 2,332,290 | 135,576 | |||
National Fuel Gas Co. | 2,310,526 | 125,208 | ||||
UGI Corp. | 5,396,690 | 123,584 | ||||
Southwest Gas Holdings Inc. | 1,710,576 | 120,390 | ||||
IDACORP Inc. | 1,272,305 | 118,515 | ||||
Portland General Electric Co. | 2,589,778 | 111,982 | ||||
New Jersey Resources Corp. | 2,471,007 | 105,611 | ||||
Ormat Technologies Inc. | 1,442,554 | 103,431 | ||||
Black Hills Corp. | 1,732,710 | 94,225 | ||||
ONE Gas Inc. | 1,421,985 | 90,794 | ||||
ALLETE Inc. | 1,449,522 | 90,378 | ||||
PNM Resources Inc. | 2,267,137 | 83,793 | ||||
Spire Inc. | 1,271,117 | 77,195 | ||||
Northwestern Energy Group Inc. | 1,540,540 | 77,150 | ||||
California Water Service Group | 1,451,723 | 70,394 | ||||
Avista Corp. | 1,965,418 | 68,023 | ||||
MGE Energy Inc. | 909,310 | 67,944 | ||||
American States Water Co. | 935,764 | 67,908 | ||||
*,1 | Sunrun Inc. | 5,293,115 | 62,776 | |||
Clearway Energy Inc. Class C | 2,078,626 | 51,321 | ||||
Northwest Natural Holding Co. | 955,815 | 34,515 | ||||
Hawaiian Electric Industries Inc. | 2,772,618 | 25,009 | ||||
*,1 | NuScale Power Corp. Class A | 1,779,800 | 20,806 | |||
Clearway Energy Inc. Class A | 863,246 | 19,561 | ||||
*,1 | Sunnova Energy International Inc. | 2,648,953 | 14,781 | |||
* | Enviri Corp. | 1,006,787 | 8,689 | |||
Excelerate Energy Inc. Class A | 410,339 | 7,567 | ||||
*,1 | Net Power Inc. | 638,648 | 6,278 | |||
4,345,609 | ||||||
Total Common Stocks (Cost $103,353,287) | 138,394,935 | |||||
Temporary Cash Investments (1.7%) | ||||||
Money Market Fund (1.7%) | ||||||
3,4 | Vanguard Market Liquidity Fund, 5.380% (Cost $2,315,720) | 23,172,910 | 2,317,060 | |||
Total Investments (101.5%) (Cost $105,669,007) | 140,711,995 | |||||
Other Assets and Liabilities—Net (-1.5%) | (2,091,230) | |||||
Net Assets (100%) | 138,620,765 |
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 $1,965,140,000. |
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 $2,163,377,000 was received for securities on loan, of which $2,163,052,000 is held in Vanguard Market Liquidity Fund and $325,000 is held in cash. |
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 2024 | 888 | 91,686 | 638 |
E-mini S&P 500 Index | September 2024 | 49 | 13,528 | 44 |
E-mini S&P Mid-Cap 400 Index | September 2024 | 590 | 174,528 | 593 |
1,275 |
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) |
Arbor Realty Trust Inc. | 1/31/25 | GSI | 7,020 | (5.330) | 145 | — |
Invesco Ltd. | 8/30/24 | BANA | 4,399 | (5.880) | — | (228) |
145 | (228) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $103,353,287) | 138,394,935 |
Affiliated Issuers (Cost $2,315,720) | 2,317,060 |
Total Investments in Securities | 140,711,995 |
Investment in Vanguard | 4,149 |
Cash | 84,130 |
Cash Collateral Pledged—Futures Contracts | 25,859 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 50 |
Receivables for Investment Securities Sold | 137,674 |
Receivables for Accrued Income | 129,541 |
Receivables for Capital Shares Issued | 194,472 |
Variation Margin Receivable—Futures Contracts | 602 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 145 |
Total Assets | 141,288,617 |
Liabilities | |
Payables for Investment Securities Purchased | 88,288 |
Collateral for Securities on Loan | 2,163,377 |
Payables for Capital Shares Redeemed | 175,490 |
Payables for Distributions | 237,787 |
Payables to Vanguard | 2,682 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 228 |
Total Liabilities | 2,667,852 |
Net Assets | 138,620,765 |
1 Includes $1,965,140,000 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2024, net assets consisted of: | |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Paid-in Capital | 115,749,130 |
Total Distributable Earnings (Loss) | 22,871,635 |
Net Assets | 138,620,765 |
Investor Shares—Net Assets | |
Applicable to 3,170,287 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 331,585 |
Net Asset Value Per Share—Investor Shares | $104.59 |
ETF Shares—Net Assets | |
Applicable to 248,891,194 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 54,328,741 |
Net Asset Value Per Share—ETF Shares | $218.28 |
Admiral Shares—Net Assets | |
Applicable to 500,608,642 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 52,362,168 |
Net Asset Value Per Share—Admiral Shares | $104.60 |
Institutional Shares—Net Assets | |
Applicable to 201,650,061 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 21,091,147 |
Net Asset Value Per Share—Institutional Shares | $104.59 |
Institutional Plus Shares—Net Assets | |
Applicable to 34,804,255 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 10,507,124 |
Net Asset Value Per Share—Institutional Plus Shares | $301.89 |
Six Months Ended June 30, 2024 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 907,140 |
Interest2 | 5,861 |
Securities Lending—Net | 31,034 |
Total Income | 944,035 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,310 |
Management and Administrative—Investor Shares | 281 |
Management and Administrative—ETF Shares | 10,702 |
Management and Administrative—Admiral Shares | 10,964 |
Management and Administrative—Institutional Shares | 3,466 |
Management and Administrative—Institutional Plus Shares | 1,276 |
Marketing and Distribution—Investor Shares | 9 |
Marketing and Distribution—ETF Shares | 1,277 |
Marketing and Distribution—Admiral Shares | 1,135 |
Marketing and Distribution—Institutional Shares | 302 |
Marketing and Distribution—Institutional Plus Shares | 135 |
Custodian Fees | 290 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 609 |
Shareholders’ Reports—Admiral Shares | 348 |
Shareholders’ Reports—Institutional Shares | 167 |
Shareholders’ Reports—Institutional Plus Shares | 47 |
Trustees’ Fees and Expenses | 40 |
Other Expenses | 8 |
Total Expenses | 32,367 |
Net Investment Income | 911,668 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 1,498,664 |
Futures Contracts | 15,091 |
Swap Contracts | 1,299 |
Realized Net Gain (Loss) | 1,515,054 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 1,694,521 |
Futures Contracts | (5,569) |
Swap Contracts | (3,107) |
Change in Unrealized Appreciation (Depreciation) | 1,685,845 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 4,112,567 |
1 | Dividends are net of foreign withholding taxes of $951,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $5,295,000, $42,000, and $177,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $4,429,014,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 911,668 | 1,991,312 | |
Realized Net Gain (Loss) | 1,515,054 | (538,956) | |
Change in Unrealized Appreciation (Depreciation) | 1,685,845 | 19,076,831 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 4,112,567 | 20,529,187 | |
Distributions | |||
Investor Shares | (2,147) | (6,045) | |
ETF Shares | (378,191) | (763,273) | |
Admiral Shares | (365,517) | (806,183) | |
Institutional Shares | (148,013) | (320,582) | |
Institutional Plus Shares | (74,288) | (166,742) | |
Total Distributions | (968,156) | (2,062,825) | |
Capital Share Transactions | |||
Investor Shares | (52,143) | (106,228) | |
ETF Shares | 2,639,619 | 3,096,563 | |
Admiral Shares | (706,800) | (333,800) | |
Institutional Shares | 122,894 | 240,484 | |
Institutional Plus Shares | (310,706) | (50,188) | |
Net Increase (Decrease) from Capital Share Transactions | 1,692,864 | 2,846,831 | |
Total Increase (Decrease) | 4,837,275 | 21,313,193 | |
Net Assets | |||
Beginning of Period | 133,783,490 | 112,470,297 | |
End of Period | 138,620,765 | 133,783,490 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $102.18 | $87.93 | $108.35 | $93.20 | $79.35 | $63.21 |
Investment Operations | ||||||
Net Investment Income1 | .621 | 1.412 | 1.256 | 1.230 | .928 | .832 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.452 | 14.314 | (20.439) | 15.130 | 13.897 | 16.319 |
Total from Investment Operations | 3.073 | 15.726 | (19.183) | 16.360 | 14.825 | 17.151 |
Distributions | ||||||
Dividends from Net Investment Income | (.663) | (1.476) | (1.237) | (1.210) | (.975) | (1.011) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.663) | (1.476) | (1.237) | (1.210) | (.975) | (1.011) |
Net Asset Value, End of Period | $104.59 | $102.18 | $87.93 | $108.35 | $93.20 | $79.35 |
Total Return2 | 3.00% | 18.05% | -17.71% | 17.59% | 18.96% | 27.22% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $332 | $375 | $424 | $619 | $709 | $754 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17%3 | 0.17% | 0.17% | 0.17% |
Ratio of Net Investment Income to Average Net Assets | 1.27% | 1.52% | 1.34% | 1.17% | 1.26% | 1.14% |
Portfolio Turnover Rate4 | 7% | 12% | 14% | 17% | 22% | 16% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $213.26 | $183.52 | $226.15 | $194.54 | $165.64 | $131.94 |
Investment Operations | ||||||
Net Investment Income1 | 1.441 | 3.218 | 2.891 | 2.769 | 2.262 | 2.298 |
Net Realized and Unrealized Gain (Loss) on Investments | 5.103 | 29.839 | (42.700) | 31.637 | 28.863 | 33.707 |
Total from Investment Operations | 6.544 | 33.057 | (39.809) | 34.406 | 31.125 | 36.005 |
Distributions | ||||||
Dividends from Net Investment Income | (1.524) | (3.317) | (2.821) | (2.796) | (2.225) | (2.305) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.524) | (3.317) | (2.821) | (2.796) | (2.225) | (2.305) |
Net Asset Value, End of Period | $218.28 | $213.26 | $183.52 | $226.15 | $194.54 | $165.64 |
Total Return | 3.06% | 18.21% | -17.60% | 17.72% | 19.08% | 27.37% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $54,329 | $50,492 | $40,593 | $50,187 | $37,492 | $27,442 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05%2 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.40% | 1.66% | 1.49% | 1.25% | 1.47% | 1.49% |
Portfolio Turnover Rate3 | 7% | 12% | 14% | 17% | 22% | 16% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $102.19 | $87.94 | $108.37 | $93.22 | $79.37 | $63.23 |
Investment Operations | ||||||
Net Investment Income1 | .686 | 1.534 | 1.383 | 1.358 | 1.029 | 1.108 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.454 | 14.305 | (20.461) | 15.131 | 13.887 | 16.136 |
Total from Investment Operations | 3.140 | 15.839 | (19.078) | 16.489 | 14.916 | 17.244 |
Distributions | ||||||
Dividends from Net Investment Income | (.730) | (1.589) | (1.352) | (1.339) | (1.066) | (1.104) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.730) | (1.589) | (1.352) | (1.339) | (1.066) | (1.104) |
Net Asset Value, End of Period | $104.60 | $102.19 | $87.94 | $108.37 | $93.22 | $79.37 |
Total Return2 | 3.07% | 18.20% | -17.61% | 17.73% | 19.11% | 27.37% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $52,362 | $51,854 | $44,944 | $55,266 | $47,313 | $42,386 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05% | 0.05%3 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.40% | 1.65% | 1.48% | 1.29% | 1.40% | 1.50% |
Portfolio Turnover Rate4 | 7% | 12% | 14% | 17% | 22% | 16% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $102.19 | $87.93 | $108.36 | $93.22 | $79.37 | $63.22 |
Investment Operations | ||||||
Net Investment Income1 | .692 | 1.544 | 1.392 | 1.367 | 1.034 | 1.101 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.443 | 14.314 | (20.461) | 15.123 | 13.889 | 16.161 |
Total from Investment Operations | 3.135 | 15.858 | (19.069) | 16.490 | 14.923 | 17.262 |
Distributions | ||||||
Dividends from Net Investment Income | (.735) | (1.598) | (1.361) | (1.350) | (1.073) | (1.112) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.735) | (1.598) | (1.361) | (1.350) | (1.073) | (1.112) |
Net Asset Value, End of Period | $104.59 | $102.19 | $87.93 | $108.36 | $93.22 | $79.37 |
Total Return | 3.06% | 18.22% | -17.60% | 17.73% | 19.12% | 27.40% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $21,091 | $20,490 | $17,363 | $21,841 | $18,957 | $17,337 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04%2 | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.41% | 1.66% | 1.49% | 1.29% | 1.41% | 1.49% |
Portfolio Turnover Rate3 | 7% | 12% | 14% | 17% | 22% | 16% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $294.95 | $253.81 | $312.78 | $269.07 | $229.09 | $182.49 |
Investment Operations | ||||||
Net Investment Income1 | 2.008 | 4.479 | 3.998 | 4.029 | 2.988 | 3.186 |
Net Realized and Unrealized Gain (Loss) on Investments | 7.070 | 41.301 | (59.013) | 43.607 | 40.111 | 46.645 |
Total from Investment Operations | 9.078 | 45.780 | (55.015) | 47.636 | 43.099 | 49.831 |
Distributions | ||||||
Dividends from Net Investment Income | (2.138) | (4.640) | (3.955) | (3.926) | (3.119) | (3.231) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.138) | (4.640) | (3.955) | (3.926) | (3.119) | (3.231) |
Net Asset Value, End of Period | $301.89 | $294.95 | $253.81 | $312.78 | $269.07 | $229.09 |
Total Return | 3.07% | 18.22% | -17.60% | 17.75% | 19.13% | 27.40% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $10,507 | $10,573 | $9,146 | $12,638 | $10,172 | $8,846 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03% | 0.03%2 | 0.03% | 0.03% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.41% | 1.67% | 1.48% | 1.32% | 1.41% | 1.49% |
Portfolio Turnover Rate3 | 7% | 12% | 14% | 17% | 22% | 16% |
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 | 138,394,887 | — | 48 | 138,394,935 |
Temporary Cash Investments | 2,317,060 | — | — | 2,317,060 |
Total | 140,711,947 | — | 48 | 140,711,995 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 1,275 | — | — | 1,275 |
Swap Contracts | — | 145 | — | 145 |
Total | 1,275 | 145 | — | 1,420 |
Liabilities | ||||
Swap Contracts | — | 228 | — | 228 |
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 | 105,965,024 |
Gross Unrealized Appreciation | 48,563,845 |
Gross Unrealized Depreciation | (13,815,682) |
Net Unrealized Appreciation (Depreciation) | 34,748,163 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 14,577 | 141 | 26,467 | 282 | |
Issued in Lieu of Cash Distributions | 2,147 | 20 | 6,045 | 65 | |
Redeemed | (68,867) | (665) | (138,740) | (1,494) | |
Net Increase (Decrease)—Investor Shares | (52,143) | (504) | (106,228) | (1,147) | |
ETF Shares | |||||
Issued | 8,632,942 | 39,484 | 9,726,067 | 49,586 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (5,993,323) | (27,350) | (6,629,504) | (34,025) | |
Net Increase (Decrease)—ETF Shares | 2,639,619 | 12,134 | 3,096,563 | 15,561 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Admiral Shares | |||||
Issued | 2,920,901 | 28,113 | 5,408,237 | 58,050 | |
Issued in Lieu of Cash Distributions | 325,459 | 3,076 | 717,481 | 7,692 | |
Redeemed | (3,953,160) | (38,001) | (6,459,518) | (69,419) | |
Net Increase (Decrease)—Admiral Shares | (706,800) | (6,812) | (333,800) | (3,677) | |
Institutional Shares | |||||
Issued | 1,622,522 | 15,601 | 2,724,886 | 29,484 | |
Issued in Lieu of Cash Distributions | 140,194 | 1,325 | 302,453 | 3,242 | |
Redeemed | (1,639,822) | (15,787) | (2,786,855) | (29,669) | |
Net Increase (Decrease)—Institutional Shares | 122,894 | 1,139 | 240,484 | 3,057 | |
Institutional Plus Shares | |||||
Issued | 537,351 | 1,778 | 658,220 | 2,444 | |
Issued in Lieu of Cash Distributions | 74,210 | 243 | 166,571 | 619 | |
Redeemed | (922,267) | (3,064) | (874,979) | (3,252) | |
Net Increase (Decrease)—Institutional Plus Shares | (310,706) | (1,043) | (50,188) | (189) |
Shares | Market Value• ($000) | |||||
Common Stocks (99.7%) | ||||||
Basic Materials (1.8%) | ||||||
Royal Gold Inc. | 929,396 | 116,323 | ||||
* | RBC Bearings Inc. | 413,015 | 111,423 | |||
Hexcel Corp. | 1,174,204 | 73,329 | ||||
Carpenter Technology Corp. | 665,790 | 72,957 | ||||
Balchem Corp. | 457,988 | 70,507 | ||||
NewMarket Corp. | 101,563 | 52,363 | ||||
*,1 | Arcadium Lithium plc | 15,173,848 | 50,984 | |||
Quaker Chemical Corp. | 191,046 | 32,421 | ||||
*,1 | MP Materials Corp. | 1,755,590 | 22,349 | |||
* | Century Aluminum Co. | 721,955 | 12,093 | |||
614,749 | ||||||
Consumer Discretionary (16.6%) | ||||||
* | Deckers Outdoor Corp. | 359,625 | 348,099 | |||
* | DraftKings Inc. Class A | 6,152,364 | 234,836 | |||
* | Liberty Media Corp.-Liberty Formula One Class C | 2,802,272 | 201,315 | |||
RB Global Inc. | 2,597,050 | 198,311 | ||||
* | Carvana Co. Class A | 1,487,596 | 191,483 | |||
Wingstop Inc. | 415,057 | 175,428 | ||||
Texas Roadhouse Inc. Class A | 943,754 | 162,052 | ||||
* | elf Beauty Inc. | 751,571 | 158,371 | |||
* | Floor & Decor Holdings Inc. Class A | 1,436,910 | 142,843 | |||
* | Light & Wonder Inc. | 1,274,655 | 133,686 | |||
Churchill Downs Inc. | 935,510 | 130,597 | ||||
* | Skechers USA Inc. Class A | 1,872,385 | 129,419 | |||
Wynn Resorts Ltd. | 1,346,945 | 120,552 | ||||
* | Crocs Inc. | 815,444 | 119,006 | |||
* | Caesars Entertainment Inc. | 2,904,797 | 115,437 | |||
Tempur Sealy International Inc. | 2,332,130 | 110,403 | ||||
Gentex Corp. | 3,268,413 | 110,178 | ||||
TKO Group Holdings Inc. Class A | 969,589 | 104,706 | ||||
* | Duolingo Inc. Class A | 496,443 | 103,593 | |||
* | Etsy Inc. | 1,652,064 | 97,439 | |||
Vail Resorts Inc. | 536,670 | 96,670 | ||||
Hyatt Hotels Corp. Class A | 606,603 | 92,155 | ||||
* | Planet Fitness Inc. Class A | 1,236,924 | 91,025 | |||
* | Bright Horizons Family Solutions Inc. | 819,705 | 90,233 | |||
* | Cava Group Inc. | 966,750 | 89,666 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 867,159 | 85,129 | |||
Wyndham Hotels & Resorts Inc. | 1,138,619 | 84,258 | ||||
* | Five Below Inc. | 740,746 | 80,719 | |||
Pool Corp. | 257,180 | 79,039 | ||||
* | SiteOne Landscape Supply Inc. | 638,675 | 77,542 | |||
* | Wayfair Inc. Class A | 1,290,974 | 68,073 | |||
* | Grand Canyon Education Inc. | 419,836 | 58,739 | |||
* | Norwegian Cruise Line Holdings Ltd. | 3,029,050 | 56,916 | |||
* | Boot Barn Holdings Inc. | 429,062 | 55,319 | |||
* | Dutch Bros Inc. Class A | 1,303,198 | 53,952 | |||
Boyd Gaming Corp. | 937,299 | 51,645 | ||||
* | RH | 206,708 | 50,528 | |||
* | Skyline Champion Corp. | 734,312 | 49,750 | |||
* | Madison Square Garden Sports Corp. | 260,286 | 48,968 | |||
* | Shake Shack Inc. Class A | 531,052 | 47,795 | |||
* | YETI Holdings Inc. | 1,202,741 | 45,885 | |||
1 | Choice Hotels International Inc. | 375,064 | 44,633 | |||
* | Chewy Inc. Class A | 1,552,450 | 42,289 | |||
* | Visteon Corp. | 390,762 | 41,694 | |||
* | Hilton Grand Vacations Inc. | 1,023,602 | 41,384 | |||
* | Sweetgreen Inc. Class A | 1,279,996 | 38,579 | |||
* | Frontdoor Inc. | 1,101,467 | 37,219 |
Shares | Market Value• ($000) | |||||
Columbia Sportswear Co. | 460,448 | 36,412 | ||||
LCI Industries | 340,444 | 35,195 | ||||
* | ACV Auctions Inc. Class A | 1,885,666 | 34,413 | |||
* | Dorman Products Inc. | 373,265 | 34,146 | |||
*,1 | Lucid Group Inc. | 13,067,508 | 34,106 | |||
* | Six Flags Entertainment Corp. | 1,014,248 | 33,612 | |||
* | Topgolf Callaway Brands Corp. | 1,949,505 | 29,827 | |||
Inter Parfums Inc. | 249,398 | 28,938 | ||||
* | Fox Factory Holding Corp. | 591,117 | 28,486 | |||
* | United Parks & Resorts Inc. | 486,667 | 26,431 | |||
* | Sonos Inc. | 1,740,300 | 25,687 | |||
* | TripAdvisor Inc. | 1,432,647 | 25,515 | |||
* | LGI Homes Inc. | 283,674 | 25,386 | |||
*,1 | QuantumScape Corp. Class A | 4,724,418 | 23,244 | |||
* | Gentherm Inc. | 448,082 | 22,099 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 338,616 | 21,749 | |||
Steven Madden Ltd. | 493,532 | 20,876 | ||||
* | Stride Inc. | 290,922 | 20,510 | |||
Red Rock Resorts Inc. Class A | 358,793 | 19,709 | ||||
* | Cavco Industries Inc. | 55,719 | 19,288 | |||
* | Life Time Group Holdings Inc. | 985,416 | 18,555 | |||
* | Dave & Buster's Entertainment Inc. | 456,503 | 18,173 | |||
* | Madison Square Garden Entertainment Corp. Class A | 495,364 | 16,956 | |||
* | Peloton Interactive Inc. Class A | 4,745,783 | 16,041 | |||
* | Sabre Corp. | 5,138,081 | 13,719 | |||
* | Integral Ad Science Holding Corp. | 1,363,942 | 13,258 | |||
Levi Strauss & Co. Class A | 658,546 | 12,697 | ||||
Arhaus Inc. Class A | 716,298 | 12,134 | ||||
* | Vizio Holding Corp. Class A | 1,037,620 | 11,206 | |||
* | Coursera Inc. | 1,547,351 | 11,079 | |||
Allegiant Travel Co. | 219,437 | 11,022 | ||||
Papa John's International Inc. | 233,388 | 10,965 | ||||
*,1 | AMC Entertainment Holdings Inc. Class A | 2,093,113 | 10,424 | |||
* | Driven Brands Holdings Inc. | 813,158 | 10,352 | |||
* | Leslie's Inc. | 2,354,454 | 9,865 | |||
* | Figs Inc. Class A | 1,834,539 | 9,778 | |||
* | Mister Car Wash Inc. | 1,357,275 | 9,664 | |||
* | Sun Country Airlines Holdings Inc. | 745,023 | 9,358 | |||
* | Rush Street Interactive Inc. | 959,015 | 9,197 | |||
* | Revolve Group Inc. Class A | 541,241 | 8,611 | |||
* | Beyond Inc. | 647,647 | 8,471 | |||
* | Dream Finders Homes Inc. Class A | 316,291 | 8,167 | |||
* | Portillo's Inc. Class A | 784,540 | 7,626 | |||
* | Instructure Holdings Inc. | 309,952 | 7,256 | |||
Jack in the Box Inc. | 137,257 | 6,992 | ||||
*,1 | Luminar Technologies Inc. Class A | 4,441,867 | 6,618 | |||
* | Corsair Gaming Inc. | 588,513 | 6,497 | |||
* | Udemy Inc. | 704,563 | 6,080 | |||
* | BJ's Restaurants Inc. | 157,270 | 5,457 | |||
Camping World Holdings Inc. Class A | 287,264 | 5,131 | ||||
1 | Bowlero Corp. Class A | 319,895 | 4,635 | |||
*,1 | Savers Value Village Inc. | 343,685 | 4,207 | |||
*,1 | Frontier Group Holdings Inc. | 792,899 | 3,909 | |||
* | Angi Inc. Class A | 1,013,945 | 1,947 | |||
1 | Spirit Airlines Inc. | 387,547 | 1,418 | |||
* | SES AI Corp. | 887,118 | 1,109 | |||
* | Liberty Media Corp.-Liberty Live Class C | 1 | — | |||
5,661,761 | ||||||
Consumer Staples (3.2%) | ||||||
Casey's General Stores Inc. | 523,263 | 199,656 | ||||
*,1 | Celsius Holdings Inc. | 2,307,388 | 131,729 | |||
* | BellRing Brands Inc. | 1,843,958 | 105,364 | |||
* | Freshpet Inc. | 684,451 | 88,561 | |||
Lamb Weston Holdings Inc. | 1,020,272 | 85,784 | ||||
* | Darling Ingredients Inc. | 2,257,431 | 82,961 | |||
Coca-Cola Consolidated Inc. | 70,943 | 76,973 | ||||
Lancaster Colony Corp. | 271,937 | 51,388 | ||||
* | Simply Good Foods Co. | 1,269,584 | 45,870 | |||
WD-40 Co. | 191,130 | 41,980 |
Shares | Market Value• ($000) | |||||
* | Post Holdings Inc. | 343,149 | 35,742 | |||
Cal-Maine Foods Inc. | 563,759 | 34,451 | ||||
* | Boston Beer Co. Inc. Class A | 97,987 | 29,891 | |||
J & J Snack Foods Corp. | 164,702 | 26,743 | ||||
National Beverage Corp. | 331,146 | 16,968 | ||||
Utz Brands Inc. | 922,946 | 15,358 | ||||
Tootsie Roll Industries Inc. | 233,456 | 7,137 | ||||
1,076,556 | ||||||
Energy (7.1%) | ||||||
Targa Resources Corp. | 3,136,452 | 403,912 | ||||
TechnipFMC plc | 5,790,650 | 151,425 | ||||
* | Weatherford International plc | 1,034,431 | 126,666 | |||
EQT Corp. | 3,121,968 | 115,450 | ||||
NOV Inc. | 5,591,542 | 106,295 | ||||
Civitas Resources Inc. | 1,414,693 | 97,614 | ||||
1 | Texas Pacific Land Corp. | 129,984 | 95,443 | |||
Matador Resources Co. | 1,587,279 | 94,602 | ||||
ChampionX Corp. | 2,691,178 | 89,374 | ||||
* | NEXTracker Inc. Class A | 1,896,499 | 88,908 | |||
Noble Corp. plc | 1,614,066 | 72,068 | ||||
* | Antero Resources Corp. | 2,085,688 | 68,056 | |||
* | Valaris Ltd. | 869,348 | 64,766 | |||
* | Tidewater Inc. | 670,577 | 63,846 | |||
Magnolia Oil & Gas Corp. Class A | 2,426,982 | 61,500 | ||||
*,1 | Transocean Ltd. | 10,411,979 | 55,704 | |||
Permian Resources Corp. Class A | 3,298,409 | 53,269 | ||||
Cactus Inc. Class A | 927,129 | 48,897 | ||||
Viper Energy Inc. Class A | 1,294,494 | 48,582 | ||||
Northern Oil & Gas Inc. | 1,283,352 | 47,702 | ||||
Liberty Energy Inc. Class A | 2,115,422 | 44,191 | ||||
Alpha Metallurgical Resources Inc. | 156,554 | 43,918 | ||||
SM Energy Co. | 814,413 | 35,207 | ||||
* | Oceaneering International Inc. | 1,428,208 | 33,791 | |||
1 | New Fortress Energy Inc. | 1,306,639 | 28,720 | |||
Sitio Royalties Corp. Class A | 1,084,347 | 25,601 | ||||
*,1 | Plug Power Inc. | 10,514,901 | 24,500 | |||
Kinetik Holdings Inc. Class A | 549,677 | 22,779 | ||||
Helmerich & Payne Inc. | 629,048 | 22,734 | ||||
* | Array Technologies Inc. | 2,041,620 | 20,947 | |||
Atlas Energy Solutions Inc. Class A | 855,531 | 17,051 | ||||
* | CONSOL Energy Inc. | 156,048 | 15,922 | |||
* | Fluence Energy Inc. | 905,525 | 15,702 | |||
* | Shoals Technologies Group Inc. Class A | 2,413,242 | 15,059 | |||
* | Ameresco Inc. Class A | 461,928 | 13,308 | |||
1 | Comstock Resources Inc. | 1,243,801 | 12,911 | |||
* | Helix Energy Solutions Group Inc. | 1,025,345 | 12,243 | |||
* | Dril-Quip Inc. | 487,404 | 9,066 | |||
*,1 | ChargePoint Holdings Inc. | 5,721,279 | 8,639 | |||
RPC Inc. | 1,365,822 | 8,536 | ||||
Core Laboratories Inc. | 332,066 | 6,738 | ||||
1 | HighPeak Energy Inc. | 271,587 | 3,818 | |||
*,1 | EVgo Inc. Class A | 1,416,466 | 3,470 | |||
*,1 | FuelCell Energy Inc. | 3,199,183 | 2,044 | |||
*,1 | SunPower Corp. | 310,331 | 919 | |||
2,401,893 | ||||||
Financials (5.0%) | ||||||
* | Robinhood Markets Inc. Class A | 9,067,275 | 205,918 | |||
Erie Indemnity Co. Class A | 359,243 | 130,190 | ||||
Blue Owl Capital Inc. Class A | 7,082,765 | 125,719 | ||||
Kinsale Capital Group Inc. | 312,672 | 120,466 | ||||
Morningstar Inc. | 392,857 | 116,227 | ||||
MarketAxess Holdings Inc. | 535,745 | 107,433 | ||||
Houlihan Lokey Inc. Class A | 742,479 | 100,131 | ||||
*,1 | SoFi Technologies Inc. | 13,428,464 | 88,762 | |||
Ryan Specialty Holdings Inc. Class A | 1,345,699 | 77,929 | ||||
*,1 | Marathon Digital Holdings Inc. | 3,663,151 | 72,713 | |||
Hamilton Lane Inc. Class A | 543,737 | 67,195 | ||||
* | Clearwater Analytics Holdings Inc. Class A | 2,240,271 | 41,490 | |||
Pinnacle Financial Partners Inc. | 517,190 | 41,396 |
Shares | Market Value• ($000) | |||||
* | Oscar Health Inc. Class A | 2,570,602 | 40,667 | |||
* | Credit Acceptance Corp. | 68,596 | 35,305 | |||
*,1 | Riot Platforms Inc. | 3,680,399 | 33,639 | |||
* | Baldwin Insurance Group Inc. Class A | 936,559 | 33,220 | |||
PJT Partners Inc. Class A | 305,656 | 32,983 | ||||
Cohen & Steers Inc. | 393,609 | 28,560 | ||||
Moelis & Co. Class A | 498,099 | 28,322 | ||||
*,1 | Upstart Holdings Inc. | 1,057,682 | 24,951 | |||
ServisFirst Bancshares Inc. | 347,342 | 21,948 | ||||
StepStone Group Inc. Class A | 418,099 | 19,187 | ||||
* | Goosehead Insurance Inc. Class A | 321,635 | 18,475 | |||
* | Palomar Holdings Inc. | 167,634 | 13,603 | |||
*,1 | Trupanion Inc. | 446,253 | 13,120 | |||
* | Triumph Financial Inc. | 156,945 | 12,830 | |||
*,1 | Lemonade Inc. | 748,705 | 12,354 | |||
TFS Financial Corp. | 794,975 | 10,033 | ||||
UWM Holdings Corp. Class A | 1,285,684 | 8,910 | ||||
Live Oak Bancshares Inc. | 238,803 | 8,372 | ||||
* | Open Lending Corp. | 1,434,327 | 8,003 | |||
P10 Inc. Class A | 658,087 | 5,581 | ||||
* | AssetMark Financial Holdings Inc. | 158,008 | 5,459 | |||
*,1 | Hagerty Inc. Class A | 424,862 | 4,419 | |||
1,715,510 | ||||||
Health Care (16.3%) | ||||||
* | Sarepta Therapeutics Inc. | 1,269,089 | 200,516 | |||
* | Neurocrine Biosciences Inc. | 1,422,481 | 195,833 | |||
* | Natera Inc. | 1,648,627 | 178,530 | |||
Bio-Techne Corp. | 2,227,824 | 159,624 | ||||
* | Insmed Inc. | 2,277,987 | 152,625 | |||
* | Charles River Laboratories International Inc. | 727,913 | 150,372 | |||
* | Medpace Holdings Inc. | 350,555 | 144,376 | |||
Chemed Corp. | 214,055 | 116,142 | ||||
* | Exact Sciences Corp. | 2,606,715 | 110,134 | |||
* | Globus Medical Inc. Class A | 1,591,593 | 109,008 | |||
* | HealthEquity Inc. | 1,229,997 | 106,026 | |||
* | Vaxcyte Inc. | 1,382,964 | 104,428 | |||
* | Insulet Corp. | 494,672 | 99,825 | |||
Ensign Group Inc. | 804,631 | 99,525 | ||||
* | Intra-Cellular Therapies Inc. | 1,416,466 | 97,014 | |||
Bruker Corp. | 1,496,564 | 95,496 | ||||
* | Blueprint Medicines Corp. | 884,626 | 95,345 | |||
* | Repligen Corp. | 749,563 | 94,490 | |||
* | Halozyme Therapeutics Inc. | 1,798,917 | 94,191 | |||
* | Penumbra Inc. | 520,064 | 93,596 | |||
* | Masimo Corp. | 712,592 | 89,744 | |||
* | Ionis Pharmaceuticals Inc. | 1,855,989 | 88,456 | |||
* | Exelixis Inc. | 3,910,800 | 87,876 | |||
* | Cytokinetics Inc. | 1,619,862 | 87,764 | |||
* | REVOLUTION Medicines Inc. | 2,097,379 | 81,399 | |||
* | Glaukos Corp. | 676,078 | 80,014 | |||
* | Lantheus Holdings Inc. | 979,202 | 78,620 | |||
* | Viking Therapeutics Inc. | 1,479,889 | 78,449 | |||
* | Catalent Inc. | 1,214,225 | 68,276 | |||
* | Option Care Health Inc. | 2,453,866 | 67,972 | |||
* | Merit Medical Systems Inc. | 779,583 | 67,005 | |||
* | Haemonetics Corp. | 717,866 | 59,389 | |||
* | Alkermes plc | 2,389,268 | 57,581 | |||
* | Inspire Medical Systems Inc. | 419,477 | 56,139 | |||
* | Apellis Pharmaceuticals Inc. | 1,456,564 | 55,874 | |||
* | Bridgebio Pharma Inc. | 1,980,302 | 50,161 | |||
* | Ultragenyx Pharmaceutical Inc. | 1,213,202 | 49,863 | |||
* | Axonics Inc. | 722,383 | 48,566 | |||
* | Guardant Health Inc. | 1,640,199 | 47,369 | |||
* | iRhythm Technologies Inc. | 418,415 | 45,038 | |||
* | Hims & Hers Health Inc. | 2,192,051 | 44,257 | |||
* | Axsome Therapeutics Inc. | 538,023 | 43,311 | |||
* | Arrowhead Pharmaceuticals Inc. | 1,663,963 | 43,246 | |||
* | Neogen Corp. | 2,749,855 | 42,980 | |||
* | PROCEPT BioRobotics Corp. | 691,760 | 42,260 |
Shares | Market Value• ($000) | |||||
* | Cerevel Therapeutics Holdings Inc. | 1,031,909 | 42,195 | |||
* | Amicus Therapeutics Inc. | 4,194,109 | 41,606 | |||
* | Doximity Inc. Class A | 1,480,400 | 41,407 | |||
* | Twist Bioscience Corp. | 783,239 | 38,598 | |||
* | Corcept Therapeutics Inc. | 1,179,365 | 38,318 | |||
* | Tandem Diabetes Care Inc. | 914,567 | 36,848 | |||
* | SpringWorks Therapeutics Inc. | 944,138 | 35,566 | |||
* | Denali Therapeutics Inc. | 1,514,491 | 35,166 | |||
* | TG Therapeutics Inc. | 1,969,463 | 35,037 | |||
* | Agios Pharmaceuticals Inc. | 803,965 | 34,667 | |||
* | CorVel Corp. | 133,345 | 33,906 | |||
* | Inari Medical Inc. | 699,738 | 33,692 | |||
* | Krystal Biotech Inc. | 182,005 | 33,423 | |||
* | TransMedics Group Inc. | 221,574 | 33,373 | |||
* | PTC Therapeutics Inc. | 1,086,005 | 33,210 | |||
* | STAAR Surgical Co. | 695,688 | 33,122 | |||
* | Progyny Inc. | 1,146,080 | 32,789 | |||
CONMED Corp. | 436,131 | 30,233 | ||||
* | Evolent Health Inc. Class A | 1,563,269 | 29,890 | |||
* | Intellia Therapeutics Inc. | 1,297,758 | 29,044 | |||
* | agilon health Inc. | 4,367,578 | 28,564 | |||
* | ACADIA Pharmaceuticals Inc. | 1,754,610 | 28,512 | |||
* | RadNet Inc. | 470,849 | 27,742 | |||
* | Privia Health Group Inc. | 1,520,615 | 26,428 | |||
* | R1 RCM Inc. | 2,087,751 | 26,222 | |||
* | 10X Genomics Inc. Class A | 1,346,388 | 26,187 | |||
* | Surgery Partners Inc. | 1,079,800 | 25,688 | |||
* | NeoGenomics Inc. | 1,808,405 | 25,083 | |||
* | Beam Therapeutics Inc. | 1,048,954 | 24,577 | |||
* | Astrana Health Inc. | 594,991 | 24,133 | |||
*,1 | Novavax Inc. | 1,888,723 | 23,911 | |||
* | Certara Inc. | 1,708,133 | 23,658 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 3,139,769 | 23,548 | |||
* | Teladoc Health Inc. | 2,401,291 | 23,485 | |||
* | Veracyte Inc. | 1,082,481 | 23,457 | |||
* | Arvinas Inc. | 872,076 | 23,215 | |||
* | Novocure Ltd. | 1,343,751 | 23,018 | |||
* | Sotera Health Co. | 1,803,709 | 21,410 | |||
* | Kymera Therapeutics Inc. | 695,056 | 20,747 | |||
* | Warby Parker Inc. Class A | 1,263,325 | 20,289 | |||
* | Xencor Inc. | 873,128 | 16,528 | |||
* | AtriCure Inc. | 650,835 | 14,820 | |||
* | Vir Biotechnology Inc. | 1,541,241 | 13,717 | |||
* | Harmony Biosciences Holdings Inc. | 442,290 | 13,344 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 1,913,153 | 12,474 | |||
*,1 | ImmunityBio Inc. | 1,958,505 | 12,378 | |||
* | QuidelOrtho Corp. | 355,536 | 11,811 | |||
* | Relay Therapeutics Inc. | 1,785,607 | 11,642 | |||
* | AdaptHealth Corp. Class A | 1,131,667 | 11,317 | |||
* | Rocket Pharmaceuticals Inc. | 514,185 | 11,070 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 1,504,684 | 10,774 | |||
* | Alignment Healthcare Inc. | 1,353,720 | 10,586 | |||
* | Sana Biotechnology Inc. | 1,881,880 | 10,275 | |||
*,1 | PACS Group Inc. | 325,786 | 9,611 | |||
HealthStream Inc. | 344,343 | 9,607 | ||||
* | BioCryst Pharmaceuticals Inc. | 1,461,148 | 9,030 | |||
* | Pacira BioSciences Inc. | 313,007 | 8,955 | |||
* | GoodRx Holdings Inc. Class A | 1,068,642 | 8,335 | |||
* | Sage Therapeutics Inc. | 766,949 | 8,329 | |||
* | Cytek Biosciences Inc. | 1,487,060 | 8,298 | |||
* | Phreesia Inc. | 379,262 | 8,040 | |||
* | REGENXBIO Inc. | 627,709 | 7,344 | |||
*,1 | Ginkgo Bioworks Holdings Inc. Class A | 21,780,391 | 7,281 | |||
* | Silk Road Medical Inc. | 251,337 | 6,796 | |||
* | LifeStance Health Group Inc. | 1,353,392 | 6,645 | |||
*,1 | Waystar Holding Corp. | 294,979 | 6,342 | |||
* | CareDx Inc. | 350,310 | 5,440 | |||
* | Arcus Biosciences Inc. | 354,173 | 5,394 | |||
*,1 | Prime Medicine Inc. | 849,802 | 4,368 | |||
* | Adaptive Biotechnologies Corp. | 938,865 | 3,399 |
Shares | Market Value• ($000) | |||||
* | AnaptysBio Inc. | 135,395 | 3,393 | |||
* | Zentalis Pharmaceuticals Inc. | 754,189 | 3,085 | |||
* | Editas Medicine Inc. | 582,129 | 2,719 | |||
* | Verve Therapeutics Inc. | 475,481 | 2,320 | |||
* | ACELYRIN Inc. | 525,734 | 2,318 | |||
* | Treace Medical Concepts Inc. | 329,212 | 2,189 | |||
*,1 | OPKO Health Inc. | 1,727,303 | 2,159 | |||
* | Lyell Immunopharma Inc. | 1,263,529 | 1,832 | |||
* | Innovage Holding Corp. | 285,082 | 1,414 | |||
* | Amylyx Pharmaceuticals Inc. | 360,931 | 686 | |||
*,1 | Tempus AI Inc. Class A | 6,973 | 244 | |||
*,2 | OmniAb Inc. 12.5 Earnout | 45,320 | — | |||
*,2 | OmniAb Inc. 15 Earnout | 45,320 | — | |||
5,556,978 | ||||||
Industrials (20.0%) | ||||||
* | Axon Enterprise Inc. | 1,013,300 | 298,153 | |||
Lennox International Inc. | 453,364 | 242,541 | ||||
Watsco Inc. | 451,304 | 209,062 | ||||
Graco Inc. | 2,390,641 | 189,530 | ||||
* | Saia Inc. | 375,727 | 178,204 | |||
Advanced Drainage Systems Inc. | 1,094,267 | 175,509 | ||||
* | TopBuild Corp. | 449,881 | 173,326 | |||
Jack Henry & Associates Inc. | 1,030,297 | 171,050 | ||||
Nordson Corp. | 728,354 | 168,934 | ||||
Comfort Systems USA Inc. | 505,281 | 153,666 | ||||
Lincoln Electric Holdings Inc. | 804,905 | 151,837 | ||||
Woodward Inc. | 860,791 | 150,105 | ||||
Curtiss-Wright Corp. | 541,677 | 146,784 | ||||
A O Smith Corp. | 1,708,263 | 139,702 | ||||
FTAI Aviation Ltd. | 1,346,549 | 139,004 | ||||
Toro Co. | 1,476,584 | 138,075 | ||||
* | Core & Main Inc. Class A | 2,717,472 | 132,993 | |||
BWX Technologies Inc. | 1,292,513 | 122,789 | ||||
* | Trex Co. Inc. | 1,536,919 | 113,916 | |||
Cognex Corp. | 2,426,311 | 113,454 | ||||
* | Generac Holdings Inc. | 856,290 | 113,219 | |||
* | WEX Inc. | 592,330 | 104,925 | |||
Eagle Materials Inc. | 479,441 | 104,259 | ||||
Simpson Manufacturing Co. Inc. | 595,977 | 100,440 | ||||
* | ATI Inc. | 1,758,938 | 97,533 | |||
* | WillScot Mobile Mini Holdings Corp. | 2,553,818 | 96,126 | |||
* | Affirm Holdings Inc. Class A | 3,167,872 | 95,701 | |||
Landstar System Inc. | 505,443 | 93,244 | ||||
Littelfuse Inc. | 350,278 | 89,528 | ||||
* | Chart Industries Inc. | 604,473 | 87,250 | |||
* | AZEK Co. Inc. Class A | 2,060,830 | 86,823 | |||
* | GXO Logistics Inc. | 1,686,751 | 85,181 | |||
* | XPO Inc. | 780,958 | 82,899 | |||
AAON Inc. | 929,271 | 81,070 | ||||
* | Paylocity Holding Corp. | 597,908 | 78,834 | |||
Badger Meter Inc. | 415,293 | 77,390 | ||||
* | BILL Holdings Inc. | 1,423,819 | 74,921 | |||
Maximus Inc. | 858,916 | 73,609 | ||||
* | AeroVironment Inc. | 397,518 | 72,412 | |||
Federal Signal Corp. | 863,160 | 72,221 | ||||
* | Modine Manufacturing Co. | 702,136 | 70,347 | |||
Installed Building Products Inc. | 341,431 | 70,225 | ||||
Armstrong World Industries Inc. | 618,110 | 69,995 | ||||
* | ExlService Holdings Inc. | 2,179,546 | 68,351 | |||
Exponent Inc. | 715,556 | 68,064 | ||||
*,1 | Shift4 Payments Inc. Class A | 875,206 | 64,196 | |||
* | Itron Inc. | 647,774 | 64,104 | |||
* | Euronet Worldwide Inc. | 615,459 | 63,700 | |||
* | Verra Mobility Corp. Class A | 2,233,910 | 60,762 | |||
* | ACI Worldwide Inc. | 1,488,541 | 58,931 | |||
CSW Industrials Inc. | 219,256 | 58,171 | ||||
Franklin Electric Co. Inc. | 552,854 | 53,251 | ||||
Herc Holdings Inc. | 380,337 | 50,695 | ||||
* | CBIZ Inc. | 671,866 | 49,785 |
Shares | Market Value• ($000) | |||||
* | MasTec Inc. | 448,499 | 47,985 | |||
* | SPX Technologies Inc. | 309,812 | 44,037 | |||
* | Middleby Corp. | 352,678 | 43,242 | |||
TriNet Group Inc. | 429,589 | 42,959 | ||||
John Bean Technologies Corp. | 448,759 | 42,619 | ||||
* | Kratos Defense & Security Solutions Inc. | 2,010,572 | 40,231 | |||
Mueller Water Products Inc. Class A | 2,195,230 | 39,338 | ||||
* | Marqeta Inc. Class A | 6,239,989 | 34,195 | |||
*,1 | Bloom Energy Corp. Class A | 2,732,377 | 33,444 | |||
* | Dycom Industries Inc. | 195,681 | 33,023 | |||
*,1 | Enovix Corp. | 1,925,776 | 29,772 | |||
Enerpac Tool Group Corp. Class A | 768,299 | 29,334 | ||||
* | Leonardo DRS Inc. | 1,117,832 | 28,516 | |||
* | Spirit AeroSystems Holdings Inc. Class A | 825,324 | 27,128 | |||
* | Flywire Corp. | 1,645,528 | 26,970 | |||
Tennant Co. | 269,145 | 26,495 | ||||
* | Janus International Group Inc. | 1,963,723 | 24,802 | |||
* | Remitly Global Inc. | 2,044,141 | 24,775 | |||
Kadant Inc. | 83,139 | 24,425 | ||||
UL Solutions Inc. Class A | 550,440 | 23,223 | ||||
* | Payoneer Global Inc. | 3,699,390 | 20,495 | |||
* | Mercury Systems Inc. | 714,280 | 19,278 | |||
Lindsay Corp. | 156,304 | 19,207 | ||||
* | Cimpress plc | 216,231 | 18,944 | |||
* | Legalzoom.com Inc. | 1,998,613 | 16,768 | |||
* | Gibraltar Industries Inc. | 215,747 | 14,789 | |||
* | AvidXchange Holdings Inc. | 1,170,385 | 14,115 | |||
*,1 | PureCycle Technologies Inc. | 1,981,500 | 11,730 | |||
Helios Technologies Inc. | 235,050 | 11,224 | ||||
*,1 | Rocket Lab USA Inc. | 2,268,191 | 10,887 | |||
* | Vicor Corp. | 325,233 | 10,785 | |||
*,1 | Loar Holdings Inc. | 190,436 | 10,171 | |||
Gorman-Rupp Co. | 148,476 | 5,451 | ||||
*,1 | Centuri Holdings Inc. | 255,983 | 4,986 | |||
* | Paymentus Holdings Inc. Class A | 248,153 | 4,715 | |||
* | Triumph Group Inc. | 272,168 | 4,194 | |||
* | Sterling Check Corp. | 242,207 | 3,585 | |||
* | ZipRecruiter Inc. Class A | 379,836 | 3,453 | |||
* | TaskUS Inc. Class A | 229,848 | 3,059 | |||
*,1 | Nikola Corp. | 304,145 | 2,491 | |||
*,1 | Virgin Galactic Holdings Inc. | 131,039 | 1,105 | |||
*,2 | GCI Liberty Inc. | 14,603 | — | |||
6,824,741 | ||||||
Real Estate (5.0%) | ||||||
American Homes 4 Rent Class A | 4,379,952 | 162,759 | ||||
Equity LifeStyle Properties Inc. | 2,374,042 | 154,621 | ||||
CubeSmart | 3,181,125 | 143,692 | ||||
Rexford Industrial Realty Inc. | 2,835,913 | 126,453 | ||||
Americold Realty Trust Inc. | 4,015,311 | 102,551 | ||||
UDR Inc. | 2,327,267 | 95,767 | ||||
Host Hotels & Resorts Inc. | 4,971,922 | 89,395 | ||||
Healthcare Realty Trust Inc. Class A | 5,346,316 | 88,107 | ||||
Terreno Realty Corp. | 1,366,423 | 80,865 | ||||
Ryman Hospitality Properties Inc. | 803,869 | 80,274 | ||||
Lamar Advertising Co. Class A | 620,095 | 74,120 | ||||
Kite Realty Group Trust | 3,099,533 | 69,368 | ||||
Essential Properties Realty Trust Inc. | 2,476,099 | 68,613 | ||||
Independence Realty Trust Inc. | 3,175,626 | 59,511 | ||||
Innovative Industrial Properties Inc. | 399,580 | 43,642 | ||||
National Storage Affiliates Trust | 955,310 | 39,378 | ||||
St. Joe Co. | 537,503 | 29,401 | ||||
Phillips Edison & Co. Inc. | 865,150 | 28,299 | ||||
* | Howard Hughes Holdings Inc. | 426,987 | 27,677 | |||
CareTrust REIT Inc. | 1,005,962 | 25,250 | ||||
RLJ Lodging Trust | 2,097,095 | 20,195 | ||||
DigitalBridge Group Inc. | 1,229,200 | 16,840 | ||||
* | Opendoor Technologies Inc. | 8,323,613 | 15,316 | |||
Kennedy-Wilson Holdings Inc. | 1,460,534 | 14,196 | ||||
1 | eXp World Holdings Inc. | 1,096,323 | 12,372 |
Shares | Market Value• ($000) | |||||
Paramount Group Inc. | 2,615,668 | 12,111 | ||||
Pebblebrook Hotel Trust | 853,310 | 11,733 | ||||
Xenia Hotels & Resorts Inc. | 722,021 | 10,347 | ||||
* | Redfin Corp. | 1,606,866 | 9,657 | |||
Alexander's Inc. | 14,470 | 3,254 | ||||
Universal Health Realty Income Trust | 44,048 | 1,724 | ||||
1,717,488 | ||||||
Technology (22.0%) | ||||||
* | PTC Inc. | 1,608,523 | 292,220 | |||
Entegris Inc. | 2,131,701 | 288,632 | ||||
* | Pure Storage Inc. Class A | 4,365,161 | 280,287 | |||
* | AppLovin Corp. Class A | 2,710,653 | 225,581 | |||
* | Manhattan Associates Inc. | 870,401 | 214,711 | |||
* | Nutanix Inc. Class A | 3,453,229 | 196,316 | |||
* | Dynatrace Inc. | 3,995,298 | 178,750 | |||
* | Guidewire Software Inc. | 1,178,557 | 162,511 | |||
* | DocuSign Inc. Class A | 2,905,331 | 155,435 | |||
* | Onto Innovation Inc. | 696,937 | 153,019 | |||
* | Toast Inc. Class A | 5,764,091 | 148,541 | |||
Universal Display Corp. | 637,317 | 133,996 | ||||
* | Elastic NV | 1,171,753 | 133,474 | |||
* | Fabrinet | 511,093 | 125,110 | |||
*,1 | MicroStrategy Inc. Class A | 89,964 | 123,924 | |||
* | Twilio Inc. Class A | 2,175,609 | 123,596 | |||
* | Match Group Inc. | 3,756,193 | 114,113 | |||
* | Lattice Semiconductor Corp. | 1,943,985 | 112,732 | |||
*,1 | Dayforce Inc. | 2,087,962 | 103,563 | |||
Paycom Software Inc. | 697,887 | 99,826 | ||||
* | SPS Commerce Inc. | 523,248 | 98,454 | |||
* | Procore Technologies Inc. | 1,447,700 | 95,997 | |||
* | Samsara Inc. Class A | 2,761,069 | 93,048 | |||
* | MACOM Technology Solutions Holdings Inc. | 815,248 | 90,876 | |||
* | Rambus Inc. | 1,522,868 | 89,484 | |||
* | Confluent Inc. Class A | 2,937,060 | 86,731 | |||
* | Novanta Inc. | 506,466 | 82,610 | |||
* | Smartsheet Inc. Class A | 1,845,632 | 81,355 | |||
* | SentinelOne Inc. Class A | 3,845,108 | 80,940 | |||
* | Altair Engineering Inc. Class A | 804,559 | 78,911 | |||
* | Qorvo Inc. | 675,421 | 78,376 | |||
* | Coherent Corp. | 1,076,831 | 78,027 | |||
* | Gitlab Inc. Class A | 1,567,800 | 77,951 | |||
* | Dropbox Inc. Class A | 3,359,695 | 75,492 | |||
* | CommVault Systems Inc. | 613,118 | 74,537 | |||
* | UiPath Inc. Class A | 5,835,875 | 73,999 | |||
* | Tenable Holdings Inc. | 1,678,941 | 73,168 | |||
* | Varonis Systems Inc. Class B | 1,495,783 | 71,753 | |||
* | Aspen Technology Inc. | 357,795 | 71,069 | |||
* | Qualys Inc. | 495,667 | 70,682 | |||
* | Appfolio Inc. Class A | 283,820 | 69,414 | |||
* | HashiCorp Inc. Class A | 2,045,708 | 68,920 | |||
Dolby Laboratories Inc. Class A | 843,874 | 66,860 | ||||
* | FormFactor Inc. | 1,089,872 | 65,970 | |||
* | Axcelis Technologies Inc. | 459,418 | 65,325 | |||
* | Unity Software Inc. | 3,858,186 | 62,734 | |||
* | Credo Technology Group Holding Ltd. | 1,844,031 | 58,898 | |||
Advanced Energy Industries Inc. | 528,137 | 57,440 | ||||
* | ZoomInfo Technologies Inc. Class A | 4,485,898 | 57,285 | |||
Power Integrations Inc. | 801,357 | 56,247 | ||||
* | Box Inc. Class A | 1,951,801 | 51,606 | |||
* | Workiva Inc. Class A | 682,809 | 49,838 | |||
* | Impinj Inc. | 313,927 | 49,214 | |||
* | Q2 Holdings Inc. | 805,325 | 48,585 | |||
* | Silicon Laboratories Inc. | 427,721 | 47,319 | |||
* | Five9 Inc. | 1,045,943 | 46,126 | |||
* | JFrog Ltd. | 1,228,156 | 46,117 | |||
* | Diodes Inc. | 618,048 | 44,456 | |||
* | Envestnet Inc. | 699,592 | 43,787 | |||
* | Alarm.com Holdings Inc. | 675,114 | 42,897 | |||
* | Zeta Global Holdings Corp. Class A | 2,283,832 | 40,310 |
Shares | Market Value• ($000) | |||||
* | Wolfspeed Inc. | 1,682,068 | 38,284 | |||
* | BlackLine Inc. | 787,779 | 38,168 | |||
* | Rapid7 Inc. | 882,500 | 38,150 | |||
* | DoubleVerify Holdings Inc. | 1,946,060 | 37,890 | |||
* | Freshworks Inc. Class A | 2,954,844 | 37,497 | |||
* | Veeco Instruments Inc. | 801,973 | 37,460 | |||
* | Perficient Inc. | 497,799 | 37,230 | |||
Pegasystems Inc. | 602,006 | 36,439 | ||||
* | Squarespace Inc. Class A | 825,430 | 36,013 | |||
* | nCino Inc. | 1,140,714 | 35,875 | |||
* | Yelp Inc. Class A | 907,331 | 33,526 | |||
*,1 | C3.ai Inc. Class A | 1,100,751 | 31,878 | |||
* | Rogers Corp. | 264,174 | 31,862 | |||
* | Cargurus Inc. Class A | 1,186,252 | 31,080 | |||
* | Allegro MicroSystems Inc. | 1,097,374 | 30,990 | |||
* | Braze Inc. Class A | 782,293 | 30,384 | |||
* | SiTime Corp. | 242,893 | 30,211 | |||
* | Ambarella Inc. | 551,009 | 29,727 | |||
* | Vertex Inc. Class A | 781,756 | 28,182 | |||
* | PagerDuty Inc. | 1,218,160 | 27,932 | |||
* | Blackbaud Inc. | 365,499 | 27,840 | |||
* | LiveRamp Holdings Inc. | 889,879 | 27,533 | |||
* | Semtech Corp. | 914,275 | 27,319 | |||
* | DigitalOcean Holdings Inc. | 773,895 | 26,893 | |||
* | Magnite Inc. | 1,883,570 | 25,033 | |||
* | Intapp Inc. | 675,850 | 24,783 | |||
Clear Secure Inc. Class A | 1,317,184 | 24,644 | ||||
* | Sprout Social Inc. Class A | 670,127 | 23,910 | |||
*,1 | Reddit Inc. Class A | 369,764 | 23,624 | |||
* | Everbridge Inc. | 589,241 | 20,618 | |||
* | AvePoint Inc. | 1,967,731 | 20,504 | |||
*,1 | Astera Labs Inc. | 330,235 | 19,983 | |||
* | Zuora Inc. Class A | 1,951,731 | 19,381 | |||
* | Upwork Inc. | 1,689,599 | 18,163 | |||
* | Jamf Holding Corp. | 1,091,329 | 18,007 | |||
* | Alkami Technology Inc. | 621,373 | 17,697 | |||
* | Schrodinger Inc. | 899,363 | 17,394 | |||
* | PROS Holdings Inc. | 599,007 | 17,162 | |||
* | Appian Corp. Class A | 552,125 | 17,039 | |||
* | Asana Inc. Class A | 1,211,667 | 16,951 | |||
*,1 | IonQ Inc. | 2,395,319 | 16,839 | |||
* | Sprinklr Inc. Class A | 1,631,261 | 15,693 | |||
* | Paycor HCM Inc. | 1,135,547 | 14,421 | |||
Shutterstock Inc. | 355,245 | 13,748 | ||||
* | Fastly Inc. Class A | 1,740,784 | 12,830 | |||
* | PubMatic Inc. Class A | 586,952 | 11,921 | |||
* | Klaviyo Inc. Class A | 448,346 | 11,159 | |||
* | MaxLinear Inc. Class A | 529,682 | 10,668 | |||
* | SEMrush Holdings Inc. Class A | 689,774 | 9,236 | |||
* | Amplitude Inc. Class A | 1,002,192 | 8,919 | |||
* | NerdWallet Inc. Class A | 586,628 | 8,565 | |||
* | Matterport Inc. | 1,892,733 | 8,461 | |||
* | Yext Inc. | 1,414,501 | 7,568 | |||
* | Ibotta Inc. Class A | 99,853 | 7,505 | |||
* | BigCommerce Holdings Inc. | 930,076 | 7,496 | |||
* | Xometry Inc. Class A | 620,472 | 7,173 | |||
* | nLight Inc. | 639,870 | 6,994 | |||
* | N-able Inc. | 457,800 | 6,972 | |||
*,1 | Rumble Inc. | 1,159,080 | 6,433 | |||
* | Nextdoor Holdings Inc. | 2,290,518 | 6,368 | |||
*,1 | Trump Media & Technology Group Corp. | 193,600 | 6,340 | |||
* | Olo Inc. Class A | 1,420,847 | 6,280 | |||
* | MeridianLink Inc. | 271,533 | 5,800 | |||
*,1 | Getty Images Holdings Inc. | 1,735,801 | 5,659 | |||
* | MediaAlpha Inc. Class A | 401,660 | 5,290 | |||
* | Vimeo Inc. | 1,018,243 | 3,798 | |||
* | Definitive Healthcare Corp. Class A | 667,980 | 3,647 | |||
* | Enfusion Inc. Class A | 392,146 | 3,341 | |||
* | CEVA Inc. | 158,593 | 3,059 | |||
* | SmartRent Inc. Class A | 1,214,463 | 2,903 |
Shares | Market Value• ($000) | |||||
* | 3D Systems Corp. | 898,547 | 2,759 | |||
* | Planet Labs PBC | 1,431,357 | 2,662 | |||
* | Eventbrite Inc. Class A | 547,776 | 2,651 | |||
* | SecureWorks Corp. Class A | 29,306 | 205 | |||
7,495,764 | ||||||
Telecommunications (1.6%) | ||||||
* | Roku Inc. Class A | 1,791,669 | 107,375 | |||
* | Ciena Corp. | 2,043,931 | 98,476 | |||
* | Liberty Broadband Corp. Class C | 1,645,552 | 90,209 | |||
Iridium Communications Inc. | 1,540,397 | 41,005 | ||||
Cogent Communications Holdings Inc. | 624,761 | 35,261 | ||||
* | Calix Inc. | 788,643 | 27,942 | |||
* | Lumentum Holdings Inc. | 478,595 | 24,370 | |||
InterDigital Inc. | 178,653 | 20,824 | ||||
* | Infinera Corp. | 2,985,832 | 18,184 | |||
* | Liberty Broadband Corp. Class A | 232,802 | 12,711 | |||
* | Globalstar Inc. | 10,761,728 | 12,053 | |||
Shenandoah Telecommunications Co. | 733,782 | 11,983 | ||||
* | Extreme Networks Inc. | 874,024 | 11,756 | |||
1 | Cable One Inc. | 31,821 | 11,265 | |||
* | Gogo Inc. | 404,985 | 3,896 | |||
527,310 | ||||||
Utilities (1.1%) | ||||||
* | Clean Harbors Inc. | 686,591 | 155,272 | |||
* | Casella Waste Systems Inc. Class A | 807,087 | 80,079 | |||
Ormat Technologies Inc. | 809,135 | 58,015 | ||||
California Water Service Group | 813,521 | 39,448 | ||||
* | Sunrun Inc. | 2,981,782 | 35,364 | |||
*,1 | Sunnova Energy International Inc. | 1,492,240 | 8,327 | |||
*,1 | Net Power Inc. | 175,938 | 1,729 | |||
378,234 | ||||||
Total Common Stocks (Cost $27,216,704) | 33,970,984 | |||||
Temporary Cash Investments (2.2%) | ||||||
Money Market Fund (2.2%) | ||||||
3,4 | Vanguard Market Liquidity Fund, 5.380% (Cost $735,846) | 7,361,051 | 736,031 | |||
Total Investments (101.9%) (Cost $27,952,550) | 34,707,015 | |||||
Other Assets and Liabilities—Net (-1.9%) | (651,406) | |||||
Net Assets (100%) | 34,055,609 |
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 $573,262,000. |
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 $637,486,000 was received for securities on loan, of which $636,539,000 is held in Vanguard Market Liquidity Fund and $947,000 is held in cash. |
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 2024 | 130 | 13,423 | 35 |
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) |
C3.ai Inc. Class A | 1/31/25 | CITNA | 12,124 | (5.330) | — | (295) |
Elastic NV | 8/30/24 | BANA | 4,162 | (5.330) | 379 | — |
MicroStrategy Inc. Class A | 1/31/25 | CITNA | 32,777 | (5.330) | — | (3,282) |
Middleby Corp. | 8/30/24 | BANA | 3,609 | (5.330) | — | (190) |
Novocure Ltd. | 8/30/24 | BANA | 3,962 | (5.330) | — | (893) |
Watsco Inc. | 8/30/24 | BANA | 18,996 | (5.330) | — | (537) |
Wolfspeed Inc. | 8/30/24 | BANA | 2,570 | (5.330) | — | (303) |
379 | (5,500) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
CITNA—Citibank, N.A. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $27,216,704) | 33,970,984 |
Affiliated Issuers (Cost $735,846) | 736,031 |
Total Investments in Securities | 34,707,015 |
Investment in Vanguard | 1,006 |
Cash | 14,828 |
Cash Collateral Pledged—Futures Contracts | 200 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 1,937 |
Receivables for Investment Securities Sold | 193 |
Receivables for Accrued Income | 14,816 |
Receivables for Capital Shares Issued | 9,525 |
Variation Margin Receivable—Futures Contracts | 3 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 379 |
Total Assets | 34,749,902 |
Liabilities | |
Payables for Investment Securities Purchased | 11,390 |
Collateral for Securities on Loan | 637,486 |
Payables for Capital Shares Redeemed | 10,801 |
Payables for Distributions | 28,147 |
Payables to Vanguard | 969 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 5,500 |
Total Liabilities | 694,293 |
Net Assets | 34,055,609 |
1 Includes $573,262,000 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2024, net assets consisted of: | |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Paid-in Capital | 33,474,290 |
Total Distributable Earnings (Loss) | 581,319 |
Net Assets | 34,055,609 |
Investor Shares—Net Assets | |
Applicable to 1,035,779 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 72,834 |
Net Asset Value Per Share—Investor Shares | $70.32 |
ETF Shares—Net Assets | |
Applicable to 67,971,137 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,997,529 |
Net Asset Value Per Share—ETF Shares | $250.07 |
Admiral Shares—Net Assets | |
Applicable to 152,489,707 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 13,407,741 |
Net Asset Value Per Share—Admiral Shares | $87.93 |
Institutional Shares—Net Assets | |
Applicable to 50,807,545 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 3,577,505 |
Net Asset Value Per Share—Institutional Shares | $70.41 |
Six Months Ended June 30, 2024 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 94,377 |
Interest2 | 2,143 |
Securities Lending—Net | 13,457 |
Total Income | 109,977 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 325 |
Management and Administrative—Investor Shares | 71 |
Management and Administrative—ETF Shares | 4,817 |
Management and Administrative—Admiral Shares | 4,116 |
Management and Administrative—Institutional Shares | 901 |
Marketing and Distribution—Investor Shares | 2 |
Marketing and Distribution—ETF Shares | 416 |
Marketing and Distribution—Admiral Shares | 295 |
Marketing and Distribution—Institutional Shares | 58 |
Custodian Fees | 127 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 281 |
Shareholders’ Reports—Admiral Shares | 88 |
Shareholders’ Reports—Institutional Shares | 54 |
Trustees’ Fees and Expenses | 10 |
Other Expenses | 7 |
Total Expenses | 11,568 |
Net Investment Income | 98,409 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 625,131 |
Futures Contracts | 128 |
Swap Contracts | 56,710 |
Realized Net Gain (Loss) | 681,969 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 457,218 |
Futures Contracts | (696) |
Swap Contracts | (12,971) |
Change in Unrealized Appreciation (Depreciation) | 443,551 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,223,929 |
1 | Dividends are net of foreign withholding taxes of $212,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $2,095,000, ($14,000), and $76,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $1,802,959,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 98,409 | 191,358 | |
Realized Net Gain (Loss) | 681,969 | (933,583) | |
Change in Unrealized Appreciation (Depreciation) | 443,551 | 6,414,920 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,223,929 | 5,672,695 | |
Distributions | |||
Investor Shares | (199) | (527) | |
ETF Shares | (55,397) | (102,224) | |
Admiral Shares | (44,070) | (91,073) | |
Institutional Shares | (11,928) | (23,803) | |
Total Distributions | (111,594) | (217,627) | |
Capital Share Transactions | |||
Investor Shares | (19,219) | (6,467) | |
ETF Shares | 912,048 | 962,195 | |
Admiral Shares | (344,475) | (478,614) | |
Institutional Shares | (2,675) | (67,568) | |
Net Increase (Decrease) from Capital Share Transactions | 545,679 | 409,546 | |
Total Increase (Decrease) | 1,658,014 | 5,864,614 | |
Net Assets | |||
Beginning of Period | 32,397,595 | 26,532,981 | |
End of Period | 34,055,609 | 32,397,595 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $67.96 | $56.38 | $79.21 | $75.20 | $55.89 | $42.36 |
Investment Operations | ||||||
Net Investment Income1 | .158 | .326 | .371 | .257 | .241 | .178 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.386 | 11.639 | (22.943) | 3.938 | 19.331 | 13.617 |
Total from Investment Operations | 2.544 | 11.965 | (22.572) | 4.195 | 19.572 | 13.795 |
Distributions | ||||||
Dividends from Net Investment Income | (.184) | (.385) | (.258) | (.185) | (.262) | (.265) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.184) | (.385) | (.258) | (.185) | (.262) | (.265) |
Net Asset Value, End of Period | $70.32 | $67.96 | $56.38 | $79.21 | $75.20 | $55.89 |
Total Return2 | 3.74% | 21.28% | -28.49% | 5.58% | 35.12% | 32.60% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $73 | $89 | $80 | $149 | $209 | $171 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19% | 0.19%3 | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 0.49% | 0.53% | 0.60% | 0.32% | 0.42% | 0.35% |
Portfolio Turnover Rate4 | 10% | 19% | 24% | 29% | 24% | 18% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $241.70 | $200.53 | $281.61 | $267.36 | $198.68 | $150.57 |
Investment Operations | ||||||
Net Investment Income1 | .729 | 1.449 | 1.623 | 1.291 | 1.129 | 1.175 |
Net Realized and Unrealized Gain (Loss) on Investments | 8.460 | 41.356 | (81.603) | 13.975 | 68.729 | 48.077 |
Total from Investment Operations | 9.189 | 42.805 | (79.980) | 15.266 | 69.858 | 49.252 |
Distributions | ||||||
Dividends from Net Investment Income | (.819) | (1.635) | (1.100) | (1.016) | (1.178) | (1.142) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.819) | (1.635) | (1.100) | (1.016) | (1.178) | (1.142) |
Net Asset Value, End of Period | $250.07 | $241.70 | $200.53 | $281.61 | $267.36 | $198.68 |
Total Return | 3.80% | 21.42% | -28.40% | 5.71% | 35.29% | 32.75% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $16,998 | $15,546 | $12,036 | $16,379 | $14,436 | $9,833 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07%2 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.62% | 0.66% | 0.74% | 0.45% | 0.55% | 0.64% |
Portfolio Turnover Rate3 | 10% | 19% | 24% | 29% | 24% | 18% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $84.98 | $70.51 | $99.01 | $94.02 | $69.87 | $52.95 |
Investment Operations | ||||||
Net Investment Income1 | .253 | .503 | .568 | .448 | .392 | .419 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.984 | 14.542 | (28.682) | 4.899 | 24.172 | 16.902 |
Total from Investment Operations | 3.237 | 15.045 | (28.114) | 5.347 | 24.564 | 17.321 |
Distributions | ||||||
Dividends from Net Investment Income | (.287) | (.575) | (.386) | (.357) | (.414) | (.401) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.287) | (.575) | (.386) | (.357) | (.414) | (.401) |
Net Asset Value, End of Period | $87.93 | $84.98 | $70.51 | $99.01 | $94.02 | $69.87 |
Total Return2 | 3.80% | 21.41% | -28.39% | 5.69% | 35.30% | 32.76% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $13,408 | $13,300 | $11,482 | $16,594 | $16,149 | $12,717 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.61% | 0.65% | 0.73% | 0.45% | 0.54% | 0.65% |
Portfolio Turnover Rate4 | 10% | 19% | 24% | 29% | 24% | 18% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $68.06 | $56.46 | $79.29 | $75.29 | $55.95 | $42.40 |
Investment Operations | ||||||
Net Investment Income1 | .206 | .410 | .465 | .367 | .319 | .327 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.378 | 11.656 | (22.979) | 3.927 | 19.358 | 13.550 |
Total from Investment Operations | 2.584 | 12.066 | (22.514) | 4.294 | 19.677 | 13.877 |
Distributions | ||||||
Dividends from Net Investment Income | (.234) | (.466) | (.316) | (.294) | (.337) | (.327) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.234) | (.466) | (.316) | (.294) | (.337) | (.327) |
Net Asset Value, End of Period | $70.41 | $68.06 | $56.46 | $79.29 | $75.29 | $55.95 |
Total Return | 3.79% | 21.44% | -28.39% | 5.70% | 35.31% | 32.77% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $3,578 | $3,462 | $2,935 | $3,805 | $3,676 | $3,218 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06%2 | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 0.63% | 0.66% | 0.75% | 0.46% | 0.55% | 0.64% |
Portfolio Turnover Rate3 | 10% | 19% | 24% | 29% | 24% | 18% |
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. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 33,970,984 | — | — | 33,970,984 |
Temporary Cash Investments | 736,031 | — | — | 736,031 |
Total | 34,707,015 | — | — | 34,707,015 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 35 | — | — | 35 |
Swap Contracts | — | 379 | — | 379 |
Total | 35 | 379 | — | 414 |
Liabilities | ||||
Swap Contracts | — | 5,500 | — | 5,500 |
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 | 28,050,193 |
Gross Unrealized Appreciation | 10,575,804 |
Gross Unrealized Depreciation | (3,924,068) |
Net Unrealized Appreciation (Depreciation) | 6,651,736 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 5,029 | 71 | 11,145 | 181 | |
Issued in Lieu of Cash Distributions | 199 | 3 | 527 | 8 | |
Redeemed | (24,447) | (355) | (18,139) | (295) | |
Net Increase (Decrease)—Investor Shares | (19,219) | (281) | (6,467) | (106) | |
ETF Shares | |||||
Issued | 3,768,844 | 15,100 | 3,836,013 | 17,299 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (2,856,796) | (11,450) | (2,873,818) | (13,000) | |
Net Increase (Decrease)—ETF Shares | 912,048 | 3,650 | 962,195 | 4,299 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Admiral Shares | |||||
Issued | 782,551 | 9,007 | 1,365,432 | 17,594 | |
Issued in Lieu of Cash Distributions | 39,131 | 437 | 80,962 | 1,033 | |
Redeemed | (1,166,157) | (13,461) | (1,925,008) | (24,971) | |
Net Increase (Decrease)—Admiral Shares | (344,475) | (4,017) | (478,614) | (6,344) | |
Institutional Shares | |||||
Issued | 300,657 | 4,314 | 507,362 | 8,187 | |
Issued in Lieu of Cash Distributions | 11,050 | 154 | 22,149 | 353 | |
Redeemed | (314,382) | (4,525) | (597,079) | (9,656) | |
Net Increase (Decrease)—Institutional Shares | (2,675) | (57) | (67,568) | (1,116) |
Shares | Market Value• ($000) | |||||
Common Stocks (99.5%) | ||||||
Basic Materials (5.6%) | ||||||
Reliance Inc. | 971,460 | 277,449 | ||||
Eastman Chemical Co. | 1,990,257 | 194,985 | ||||
Steel Dynamics Inc. | 1,262,746 | 163,526 | ||||
Mosaic Co. | 5,428,683 | 156,889 | ||||
United States Steel Corp. | 3,423,326 | 129,402 | ||||
* | Cleveland-Cliffs Inc. | 8,044,690 | 123,808 | |||
FMC Corp. | 2,111,493 | 121,516 | ||||
Alcoa Corp. | 3,037,504 | 120,832 | ||||
UFP Industries Inc. | 992,400 | 111,149 | ||||
Commercial Metals Co. | 1,957,454 | 107,640 | ||||
Mueller Industries Inc. | 1,825,601 | 103,950 | ||||
Element Solutions Inc. | 3,684,991 | 99,937 | ||||
Olin Corp. | 2,020,249 | 95,255 | ||||
* | Valvoline Inc. | 2,179,823 | 94,168 | |||
Timken Co. | 1,072,045 | 85,903 | ||||
Cabot Corp. | 934,821 | 85,901 | ||||
Boise Cascade Co. | 667,865 | 79,623 | ||||
Ashland Inc. | 805,469 | 76,109 | ||||
Avient Corp. | 1,542,454 | 67,328 | ||||
Huntsman Corp. | 2,780,462 | 63,311 | ||||
Chemours Co. | 2,518,756 | 56,848 | ||||
Sensient Technologies Corp. | 716,668 | 53,170 | ||||
Innospec Inc. | 421,787 | 52,129 | ||||
Hecla Mining Co. | 10,064,700 | 48,814 | ||||
Westlake Corp. | 326,065 | 47,221 | ||||
Scotts Miracle-Gro Co. | 720,601 | 46,882 | ||||
Minerals Technologies Inc. | 545,542 | 45,367 | ||||
Materion Corp. | 350,687 | 37,920 | ||||
* | Coeur Mining Inc. | 6,078,889 | 34,163 | |||
Tronox Holdings plc | 2,002,469 | 31,419 | ||||
Stepan Co. | 361,201 | 30,326 | ||||
* | Ingevity Corp. | 613,510 | 26,816 | |||
Kaiser Aluminum Corp. | 258,250 | 22,700 | ||||
Worthington Steel Inc. | 597,385 | 19,929 | ||||
* | Ecovyst Inc. | 1,781,439 | 15,979 | |||
Mativ Holdings Inc. | 872,936 | 14,805 | ||||
Koppers Holdings Inc. | 340,034 | 12,578 | ||||
Compass Minerals International Inc. | 698,117 | 7,212 | ||||
Radius Recycling Inc. | 212,121 | 3,239 | ||||
2,966,198 | ||||||
Consumer Discretionary (15.6%) | ||||||
1 | Williams-Sonoma Inc. | 862,874 | 243,650 | |||
Toll Brothers Inc. | 1,762,205 | 202,971 | ||||
* | BJ's Wholesale Club Holdings Inc. | 2,245,048 | 197,205 | |||
* | CarMax Inc. | 2,657,425 | 194,896 | |||
Interpublic Group of Cos. Inc. | 6,375,523 | 185,464 | ||||
*,1 | Rivian Automotive Inc. Class A | 13,342,874 | 179,061 | |||
Service Corp. International | 2,340,121 | 166,453 | ||||
Tapestry Inc. | 3,886,964 | 166,323 | ||||
* | Abercrombie & Fitch Co. Class A | 863,043 | 153,484 | |||
Aramark | 4,448,959 | 151,354 | ||||
Murphy USA Inc. | 315,443 | 148,088 | ||||
Bath & Body Works Inc. | 3,783,766 | 147,756 | ||||
Dick's Sporting Goods Inc. | 675,723 | 145,179 | ||||
New York Times Co. Class A | 2,628,220 | 134,591 | ||||
*,1 | GameStop Corp. Class A | 5,343,922 | 131,941 | |||
Hasbro Inc. | 2,237,274 | 130,881 | ||||
H&R Block Inc. | 2,360,398 | 128,004 | ||||
*,1 | American Airlines Group Inc. | 11,055,583 | 125,260 |
Shares | Market Value• ($000) | |||||
BorgWarner Inc. | 3,854,416 | 124,266 | ||||
Lithia Motors Inc. Class A | 463,638 | 117,045 | ||||
Lear Corp. | 960,701 | 109,722 | ||||
Ralph Lauren Corp. Class A | 618,479 | 108,271 | ||||
PVH Corp. | 957,843 | 101,407 | ||||
U-Haul Holding Co. (XNYS) | 1,644,656 | 98,712 | ||||
Gap Inc. | 4,106,995 | 98,116 | ||||
* | Mattel Inc. | 5,820,993 | 94,649 | |||
Meritage Homes Corp. | 583,765 | 94,482 | ||||
Whirlpool Corp. | 924,250 | 94,458 | ||||
* | Taylor Morrison Home Corp. Class A | 1,699,779 | 94,236 | |||
1 | Paramount Global Class B | 9,019,565 | 93,713 | |||
LKQ Corp. | 2,249,634 | 93,562 | ||||
Macy's Inc. | 4,675,809 | 89,776 | ||||
Nexstar Media Group Inc. Class A | 527,686 | 87,601 | ||||
* | AutoNation Inc. | 545,017 | 86,865 | |||
* | Alaska Air Group Inc. | 2,146,561 | 86,721 | |||
Thor Industries Inc. | 856,949 | 80,082 | ||||
* | Lyft Inc. Class A | 5,678,865 | 80,072 | |||
VF Corp. | 5,920,713 | 79,930 | ||||
* | Asbury Automotive Group Inc. | 341,274 | 77,766 | |||
KB Home | 1,091,798 | 76,622 | ||||
Polaris Inc. | 908,254 | 71,125 | ||||
Harley-Davidson Inc. | 2,048,092 | 68,693 | ||||
* | Norwegian Cruise Line Holdings Ltd. | 3,639,806 | 68,392 | |||
Academy Sports & Outdoors Inc. | 1,248,301 | 66,472 | ||||
* | Capri Holdings Ltd. | 1,973,333 | 65,278 | |||
Group 1 Automotive Inc. | 217,488 | 64,655 | ||||
Signet Jewelers Ltd. | 717,661 | 64,288 | ||||
Advance Auto Parts Inc. | 1,008,610 | 63,875 | ||||
Kontoor Brands Inc. | 944,472 | 62,477 | ||||
American Eagle Outfitters Inc. | 2,990,718 | 59,695 | ||||
* | Coty Inc. Class A | 5,874,563 | 58,863 | |||
* | Tri Pointe Homes Inc. | 1,524,771 | 56,798 | |||
* | Goodyear Tire & Rubber Co. | 4,815,914 | 54,661 | |||
* | Brinker International Inc. | 752,625 | 54,483 | |||
* | SkyWest Inc. | 647,008 | 53,100 | |||
Travel + Leisure Co. | 1,145,211 | 51,512 | ||||
Penske Automotive Group Inc. | 339,411 | 50,579 | ||||
Wendy's Co. | 2,949,728 | 50,027 | ||||
*,1 | Penn Entertainment Inc. | 2,578,838 | 49,913 | |||
Marriott Vacations Worldwide Corp. | 535,394 | 46,751 | ||||
* | Urban Outfitters Inc. | 1,104,762 | 45,350 | |||
Rush Enterprises Inc. Class A | 1,048,160 | 43,886 | ||||
Newell Brands Inc. | 6,671,834 | 42,766 | ||||
Strategic Education Inc. | 374,652 | 41,459 | ||||
* | Adtalem Global Education Inc. | 604,419 | 41,227 | |||
* | Liberty Media Corp.-Liberty SiriusXM | 1,851,920 | 41,039 | |||
Kohl's Corp. | 1,782,639 | 40,983 | ||||
* | Cinemark Holdings Inc. | 1,862,843 | 40,275 | |||
TEGNA Inc. | 2,871,383 | 40,027 | ||||
Foot Locker Inc. | 1,598,509 | 39,835 | ||||
* | Helen of Troy Ltd. | 402,768 | 37,353 | |||
Laureate Education Inc. | 2,493,284 | 37,250 | ||||
Graham Holdings Co. Class B | 52,900 | 37,006 | ||||
Carter's Inc. | 586,592 | 36,351 | ||||
Nordstrom Inc. | 1,657,016 | 35,162 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 1,545,439 | 34,231 | |||
HNI Corp. | 760,067 | 34,218 | ||||
PriceSmart Inc. | 414,837 | 33,685 | ||||
* | JetBlue Airways Corp. | 5,464,944 | 33,282 | |||
MillerKnoll Inc. | 1,211,940 | 32,104 | ||||
Endeavor Group Holdings Inc. Class A | 1,151,470 | 31,124 | ||||
Cheesecake Factory Inc. | 775,834 | 30,483 | ||||
Acushnet Holdings Corp. | 480,179 | 30,482 | ||||
Phinia Inc. | 772,883 | 30,421 | ||||
* | OPENLANE Inc. | 1,832,020 | 30,393 | |||
* | Liberty Media Corp.-Liberty Live Class C | 793,151 | 30,354 | |||
Avis Budget Group Inc. | 271,431 | 28,370 | ||||
John Wiley & Sons Inc. Class A | 696,107 | 28,332 |
Shares | Market Value• ($000) | |||||
Bloomin' Brands Inc. | 1,462,910 | 28,132 | ||||
* | Central Garden & Pet Co. Class A | 847,465 | 27,992 | |||
* | Hanesbrands Inc. | 5,649,757 | 27,853 | |||
La-Z-Boy Inc. | 721,317 | 26,891 | ||||
Dana Inc. | 2,207,015 | 26,749 | ||||
Upbound Group Inc. | 831,598 | 25,530 | ||||
Oxford Industries Inc. | 251,349 | 25,173 | ||||
Steven Madden Ltd. | 589,655 | 24,942 | ||||
* | Knowles Corp. | 1,442,472 | 24,897 | |||
Leggett & Platt Inc. | 2,154,052 | 24,685 | ||||
* | Stride Inc. | 347,601 | 24,506 | |||
Worthington Enterprises Inc. | 508,990 | 24,091 | ||||
PROG Holdings Inc. | 693,982 | 24,067 | ||||
Red Rock Resorts Inc. Class A | 429,854 | 23,612 | ||||
* | Victoria's Secret & Co. | 1,324,306 | 23,400 | |||
1 | Dillard's Inc. Class A | 51,787 | 22,806 | |||
* | ODP Corp. | 576,848 | 22,653 | |||
* | PowerSchool Holdings Inc. Class A | 982,866 | 22,006 | |||
* | Under Armour Inc. Class A | 3,191,575 | 21,288 | |||
* | Under Armour Inc. Class C | 3,249,048 | 21,216 | |||
* | Cars.com Inc. | 1,062,544 | 20,932 | |||
Buckle Inc. | 515,413 | 19,039 | ||||
* | Sally Beauty Holdings Inc. | 1,751,144 | 18,790 | |||
* | Lions Gate Entertainment Corp. Class B | 2,188,266 | 18,753 | |||
Steelcase Inc. Class A | 1,428,723 | 18,516 | ||||
* | G-III Apparel Group Ltd. | 646,637 | 17,504 | |||
* | National Vision Holdings Inc. | 1,328,908 | 17,395 | |||
Wolverine World Wide Inc. | 1,284,452 | 17,366 | ||||
* | Vista Outdoor Inc. | 444,110 | 16,721 | |||
* | Sphere Entertainment Co. | 457,509 | 16,040 | |||
1 | Cracker Barrel Old Country Store Inc. | 375,584 | 15,835 | |||
Levi Strauss & Co. Class A | 786,685 | 15,167 | ||||
Krispy Kreme Inc. | 1,284,651 | 13,823 | ||||
1 | Sirius XM Holdings Inc. | 4,866,181 | 13,771 | |||
* | Liberty Media Corp.-Liberty Live Class A | 360,714 | 13,530 | |||
* | American Axle & Manufacturing Holdings Inc. | 1,889,226 | 13,206 | |||
Papa John's International Inc. | 278,055 | 13,063 | ||||
*,1 | AMC Entertainment Holdings Inc. Class A | 2,505,252 | 12,476 | |||
Matthews International Corp. Class A | 493,484 | 12,362 | ||||
Sturm Ruger & Co. Inc. | 294,436 | 12,263 | ||||
Sonic Automotive Inc. Class A | 222,838 | 12,138 | ||||
Scholastic Corp. | 324,363 | 11,505 | ||||
Monro Inc. | 480,776 | 11,471 | ||||
1 | Guess? Inc. | 497,731 | 10,154 | |||
* | Lions Gate Entertainment Corp. Class A | 1,061,022 | 9,995 | |||
Caleres Inc. | 282,653 | 9,497 | ||||
* | U-Haul Holding Co. | 146,703 | 9,056 | |||
Dine Brands Global Inc. | 247,594 | 8,963 | ||||
Jack in the Box Inc. | 163,501 | 8,329 | ||||
Sinclair Inc. | 609,481 | 8,124 | ||||
* | Udemy Inc. | 841,608 | 7,263 | |||
* | Clear Channel Outdoor Holdings Inc. | 4,961,082 | 6,995 | |||
Interface Inc. Class A | 467,951 | 6,870 | ||||
* | BJ's Restaurants Inc. | 187,866 | 6,519 | |||
*,1 | Hertz Global Holdings Inc. | 1,808,432 | 6,384 | |||
Camping World Holdings Inc. Class A | 343,037 | 6,127 | ||||
* | Central Garden & Pet Co. | 140,645 | 5,415 | |||
Smith & Wesson Brands Inc. | 364,392 | 5,225 | ||||
*,1 | AMC Networks Inc. Class A | 521,585 | 5,039 | |||
*,1 | Cricut Inc. Class A | 782,062 | 4,685 | |||
* | Petco Health & Wellness Co. Inc. Class A | 1,176,722 | 4,448 | |||
Rush Enterprises Inc. Class B | 111,905 | 4,391 | ||||
* | Chegg Inc. | 824,152 | 2,604 | |||
Designer Brands Inc. Class A | 360,734 | 2,464 | ||||
1 | Paramount Global Class A | 125,646 | 2,309 | |||
1 | Spirit Airlines Inc. | 464,419 | 1,700 | |||
* | EW Scripps Co. Class A | 1,767 | 6 | |||
8,176,437 |
Shares | Market Value• ($000) | |||||
Consumer Staples (3.4%) | ||||||
Bunge Global SA | 2,395,437 | 255,761 | ||||
* | US Foods Holding Corp. | 4,158,552 | 220,320 | |||
* | Performance Food Group Co. | 2,632,430 | 174,030 | |||
Molson Coors Beverage Co. Class B | 3,003,192 | 152,652 | ||||
* | Sprouts Farmers Market Inc. | 1,699,782 | 142,204 | |||
Ingredion Inc. | 1,110,535 | 127,378 | ||||
Albertsons Cos. Inc. Class A | 5,851,149 | 115,560 | ||||
J M Smucker Co. | 850,572 | 92,746 | ||||
Flowers Foods Inc. | 3,213,481 | 71,339 | ||||
* | Post Holdings Inc. | 409,958 | 42,701 | |||
Spectrum Brands Holdings Inc. | 468,504 | 40,259 | ||||
Energizer Holdings Inc. | 1,214,319 | 35,871 | ||||
Edgewell Personal Care Co. | 838,163 | 33,686 | ||||
* | Grocery Outlet Holding Corp. | 1,520,370 | 33,631 | |||
* | TreeHouse Foods Inc. | 800,864 | 29,344 | |||
Andersons Inc. | 547,213 | 27,142 | ||||
Reynolds Consumer Products Inc. | 888,504 | 24,860 | ||||
Vector Group Ltd. | 2,263,505 | 23,925 | ||||
* | Pilgrim's Pride Corp. | 601,220 | 23,141 | |||
Universal Corp. | 394,944 | 19,032 | ||||
Weis Markets Inc. | 273,020 | 17,138 | ||||
* | Herbalife Ltd. | 1,606,348 | 16,690 | |||
Fresh Del Monte Produce Inc. | 648,300 | 14,165 | ||||
Seaboard Corp. | 4,096 | 12,946 | ||||
* | United Natural Foods Inc. | 955,216 | 12,513 | |||
* | Hain Celestial Group Inc. | 1,519,742 | 10,502 | |||
B&G Foods Inc. | 1,270,468 | 10,265 | ||||
* | USANA Health Sciences Inc. | 193,264 | 8,743 | |||
Nu Skin Enterprises Inc. Class A | 798,074 | 8,412 | ||||
* | Duckhorn Portfolio Inc. | 869,930 | 6,177 | |||
*,1 | BRC Inc. Class A | 853,787 | 5,234 | |||
* | Olaplex Holdings Inc. | 1,700,774 | 2,619 | |||
1,810,986 | ||||||
Energy (4.6%) | ||||||
Ovintiv Inc. | 4,516,741 | 211,700 | ||||
APA Corp. | 6,278,425 | 184,837 | ||||
1 | Chesapeake Energy Corp. | 2,106,062 | 173,097 | |||
Chord Energy Corp. | 1,001,367 | 167,909 | ||||
HF Sinclair Corp. | 2,762,881 | 147,372 | ||||
Range Resources Corp. | 3,899,148 | 130,738 | ||||
* | Southwestern Energy Co. | 18,655,966 | 125,555 | |||
DT Midstream Inc. | 1,642,756 | 116,685 | ||||
Murphy Oil Corp. | 2,452,153 | 101,127 | ||||
Equitrans Midstream Corp. | 6,969,312 | 90,462 | ||||
Antero Midstream Corp. | 5,698,581 | 83,997 | ||||
* | Antero Resources Corp. | 2,503,908 | 81,703 | |||
PBF Energy Inc. Class A | 1,704,920 | 78,460 | ||||
Patterson-UTI Energy Inc. | 6,796,231 | 70,409 | ||||
Arcosa Inc. | 821,865 | 68,552 | ||||
Permian Resources Corp. Class A | 3,943,357 | 63,685 | ||||
California Resources Corp. | 1,154,869 | 61,462 | ||||
* | CNX Resources Corp. | 2,462,827 | 59,847 | |||
Warrior Met Coal Inc. | 884,765 | 55,537 | ||||
Archrock Inc. | 2,512,027 | 50,793 | ||||
Peabody Energy Corp. | 2,021,670 | 44,719 | ||||
Arch Resources Inc. | 293,226 | 44,638 | ||||
SM Energy Co. | 973,036 | 42,064 | ||||
Helmerich & Payne Inc. | 751,537 | 27,161 | ||||
Delek US Holdings Inc. | 1,030,599 | 25,518 | ||||
World Kinect Corp. | 963,312 | 24,853 | ||||
* | DNOW Inc. | 1,806,713 | 24,806 | |||
Crescent Energy Co. Class A | 1,697,457 | 20,115 | ||||
* | MRC Global Inc. | 1,367,178 | 17,650 | |||
CVR Energy Inc. | 595,232 | 15,934 | ||||
* | ProPetro Holding Corp. | 1,539,295 | 13,346 | |||
Vitesse Energy Inc. | 373,677 | 8,856 | ||||
Core Laboratories Inc. | 396,617 | 8,047 | ||||
*,1 | ProFrac Holding Corp. Class A | 270,887 | 2,007 |
Shares | Market Value• ($000) | |||||
* | OPAL Fuels Inc. Class A | 339,024 | 1,387 | |||
2,445,028 | ||||||
Financials (20.3%) | ||||||
First Citizens BancShares Inc. Class A | 183,028 | 308,148 | ||||
Reinsurance Group of America Inc. | 1,112,983 | 228,462 | ||||
Equitable Holdings Inc. | 5,502,415 | 224,829 | ||||
RenaissanceRe Holdings Ltd. | 894,517 | 199,933 | ||||
Ally Financial Inc. | 4,628,103 | 183,597 | ||||
Brown & Brown Inc. | 1,930,140 | 172,574 | ||||
East West Bancorp Inc. | 2,353,928 | 172,378 | ||||
Annaly Capital Management Inc. | 8,465,815 | 161,358 | ||||
Carlyle Group Inc. | 3,957,222 | 158,882 | ||||
American Financial Group Inc. | 1,205,921 | 148,352 | ||||
Assurant Inc. | 879,421 | 146,204 | ||||
First Horizon Corp. | 9,251,849 | 145,902 | ||||
Unum Group | 2,723,374 | 139,192 | ||||
Stifel Financial Corp. | 1,646,611 | 138,562 | ||||
Primerica Inc. | 582,141 | 137,723 | ||||
SEI Investments Co. | 2,000,501 | 129,412 | ||||
Globe Life Inc. | 1,558,570 | 128,239 | ||||
Old Republic International Corp. | 4,139,127 | 127,899 | ||||
Webster Financial Corp. | 2,901,062 | 126,457 | ||||
Jefferies Financial Group Inc. | 2,511,032 | 124,949 | ||||
Evercore Inc. Class A | 586,367 | 122,216 | ||||
Voya Financial Inc. | 1,703,619 | 121,212 | ||||
1 | AGNC Investment Corp. | 12,295,669 | 117,301 | |||
Comerica Inc. | 2,242,876 | 114,476 | ||||
Western Alliance Bancorp | 1,769,530 | 111,162 | ||||
Commerce Bancshares Inc. | 1,972,171 | 110,008 | ||||
Zions Bancorp NA | 2,497,849 | 108,332 | ||||
Popular Inc. | 1,222,581 | 108,113 | ||||
Invesco Ltd. | 7,070,446 | 105,774 | ||||
RLI Corp. | 734,587 | 103,349 | ||||
Wintrust Financial Corp. | 1,044,654 | 102,961 | ||||
Cullen/Frost Bankers Inc. | 978,271 | 99,422 | ||||
SouthState Corp. | 1,288,848 | 98,494 | ||||
OneMain Holdings Inc. | 2,028,411 | 98,358 | ||||
MGIC Investment Corp. | 4,509,934 | 97,189 | ||||
Selective Insurance Group Inc. | 1,028,386 | 96,493 | ||||
Essent Group Ltd. | 1,714,326 | 96,328 | ||||
1 | Starwood Property Trust Inc. | 5,077,572 | 96,169 | |||
Jackson Financial Inc. Class A | 1,290,286 | 95,817 | ||||
Synovus Financial Corp. | 2,353,370 | 94,582 | ||||
Prosperity Bancshares Inc. | 1,541,739 | 94,262 | ||||
Old National Bancorp | 5,395,091 | 92,742 | ||||
Axis Capital Holdings Ltd. | 1,288,989 | 91,067 | ||||
First American Financial Corp. | 1,666,880 | 89,928 | ||||
Lincoln National Corp. | 2,876,302 | 89,453 | ||||
Rithm Capital Corp. | 8,179,183 | 89,235 | ||||
Cadence Bank | 3,090,298 | 87,394 | ||||
* | Mr Cooper Group Inc. | 1,040,169 | 84,493 | |||
Affiliated Managers Group Inc. | 539,132 | 84,229 | ||||
FNB Corp. | 6,086,153 | 83,259 | ||||
Radian Group Inc. | 2,547,399 | 79,224 | ||||
Bank OZK | 1,918,925 | 78,676 | ||||
SLM Corp. | 3,716,930 | 77,275 | ||||
White Mountains Insurance Group Ltd. | 41,244 | 74,959 | ||||
United Bankshares Inc. | 2,287,070 | 74,193 | ||||
Janus Henderson Group plc | 2,171,892 | 73,214 | ||||
Home BancShares Inc. | 3,049,941 | 73,077 | ||||
Glacier Bancorp Inc. | 1,918,844 | 71,611 | ||||
Columbia Banking System Inc. | 3,541,971 | 70,450 | ||||
Hancock Whitney Corp. | 1,465,236 | 70,082 | ||||
Lazard Inc. Class A | 1,812,225 | 69,191 | ||||
Hanover Insurance Group Inc. | 547,226 | 68,644 | ||||
FirstCash Holdings Inc. | 653,851 | 68,576 | ||||
Assured Guaranty Ltd. | 875,106 | 67,514 | ||||
Piper Sandler Cos. | 284,435 | 65,468 | ||||
* | Enstar Group Ltd. | 206,102 | 63,005 |
Shares | Market Value• ($000) | |||||
Kemper Corp. | 1,034,366 | 61,369 | ||||
First Financial Bankshares Inc. | 2,054,521 | 60,670 | ||||
Ameris Bancorp | 1,110,598 | 55,919 | ||||
TPG Inc. Class A | 1,330,628 | 55,155 | ||||
UMB Financial Corp. | 659,806 | 55,041 | ||||
International Bancshares Corp. | 946,631 | 54,157 | ||||
Walker & Dunlop Inc. | 541,819 | 53,207 | ||||
Fulton Financial Corp. | 3,074,655 | 52,208 | ||||
United Community Banks Inc. | 2,015,120 | 51,305 | ||||
Associated Banc-Corp | 2,423,074 | 51,248 | ||||
BGC Group Inc. Class A | 6,169,871 | 51,210 | ||||
Valley National Bancorp | 7,321,589 | 51,105 | ||||
Atlantic Union Bankshares Corp. | 1,518,515 | 49,883 | ||||
Pinnacle Financial Partners Inc. | 620,484 | 49,664 | ||||
First Bancorp | 2,675,134 | 48,928 | ||||
* | Texas Capital Bancshares Inc. | 789,266 | 48,256 | |||
CNO Financial Group Inc. | 1,739,897 | 48,230 | ||||
WSFS Financial Corp. | 1,016,587 | 47,780 | ||||
* | Axos Financial Inc. | 819,270 | 46,821 | |||
Artisan Partners Asset Management Inc. Class A | 1,123,417 | 46,363 | ||||
* | Brighthouse Financial Inc. | 1,050,714 | 45,538 | |||
First Hawaiian Inc. | 2,162,672 | 44,897 | ||||
* | Genworth Financial Inc. Class A | 7,405,652 | 44,730 | |||
Federated Hermes Inc. Class B | 1,357,180 | 44,624 | ||||
Cathay General Bancorp | 1,170,183 | 44,139 | ||||
1 | Arbor Realty Trust Inc. | 3,029,070 | 43,467 | |||
Community Financial System Inc. | 892,686 | 42,144 | ||||
First Interstate BancSystem Inc. Class A | 1,503,555 | 41,754 | ||||
PennyMac Financial Services Inc. | 430,708 | 40,745 | ||||
1 | Blackstone Mortgage Trust Inc. Class A | 2,309,599 | 40,233 | |||
1 | New York Community Bancorp Inc. | 12,492,525 | 40,226 | |||
WaFd Inc. | 1,376,412 | 39,338 | ||||
CVB Financial Corp. | 2,244,051 | 38,687 | ||||
Bank of Hawaii Corp. | 671,493 | 38,416 | ||||
Eastern Bankshares Inc. | 2,689,142 | 37,594 | ||||
Pacific Premier Bancorp Inc. | 1,631,239 | 37,470 | ||||
BankUnited Inc. | 1,264,613 | 37,015 | ||||
Simmons First National Corp. Class A | 2,016,652 | 35,453 | ||||
BOK Financial Corp. | 382,000 | 35,006 | ||||
Park National Corp. | 245,859 | 34,996 | ||||
Independent Bank Corp. | 682,545 | 34,619 | ||||
First Financial Bancorp | 1,534,126 | 34,088 | ||||
Moelis & Co. Class A | 594,980 | 33,831 | ||||
First Merchants Corp. | 991,117 | 32,994 | ||||
Virtu Financial Inc. Class A | 1,422,239 | 31,929 | ||||
Towne Bank | 1,109,006 | 30,243 | ||||
Provident Financial Services Inc. | 2,092,152 | 30,022 | ||||
OFG Bancorp | 795,117 | 29,777 | ||||
NBT Bancorp Inc. | 757,714 | 29,248 | ||||
Banner Corp. | 582,778 | 28,929 | ||||
Trustmark Corp. | 931,802 | 27,991 | ||||
Renasant Corp. | 905,380 | 27,650 | ||||
Independent Bank Group Inc. | 594,975 | 27,083 | ||||
BancFirst Corp. | 306,928 | 26,918 | ||||
WesBanco Inc. | 955,012 | 26,654 | ||||
ServisFirst Bancshares Inc. | 414,885 | 26,217 | ||||
Virtus Investment Partners Inc. | 114,550 | 25,871 | ||||
City Holding Co. | 237,246 | 25,207 | ||||
National Bank Holdings Corp. Class A | 639,863 | 24,987 | ||||
Mercury General Corp. | 468,317 | 24,886 | ||||
Northwest Bancshares Inc. | 2,152,977 | 24,867 | ||||
Hilltop Holdings Inc. | 772,900 | 24,176 | ||||
Apollo Commercial Real Estate Finance Inc. | 2,404,711 | 23,542 | ||||
Two Harbors Investment Corp. | 1,750,958 | 23,130 | ||||
StepStone Group Inc. Class A | 499,392 | 22,917 | ||||
WisdomTree Inc. | 2,311,000 | 22,902 | ||||
First Commonwealth Financial Corp. | 1,644,033 | 22,704 | ||||
Compass Diversified Holdings | 1,033,620 | 22,626 | ||||
Horace Mann Educators Corp. | 693,010 | 22,606 | ||||
Ladder Capital Corp. Class A | 1,927,660 | 21,763 |
Shares | Market Value• ($000) | |||||
Hope Bancorp Inc. | 1,938,565 | 20,820 | ||||
Westamerica Bancorp | 428,752 | 20,807 | ||||
S&T Bancorp Inc. | 614,487 | 20,518 | ||||
PennyMac Mortgage Investment Trust | 1,469,332 | 20,203 | ||||
* | SiriusPoint Ltd. | 1,586,117 | 19,351 | |||
Navient Corp. | 1,324,422 | 19,284 | ||||
MFA Financial Inc. | 1,726,852 | 18,374 | ||||
Victory Capital Holdings Inc. Class A | 383,129 | 18,287 | ||||
Employers Holdings Inc. | 428,780 | 18,279 | ||||
Safety Insurance Group Inc. | 238,424 | 17,889 | ||||
Safehold Inc. | 904,912 | 17,456 | ||||
Franklin BSP Realty Trust Inc. | 1,385,019 | 17,451 | ||||
Chimera Investment Corp. | 1,361,447 | 17,426 | ||||
National Western Life Group Inc. Class A | 34,883 | 17,335 | ||||
Berkshire Hills Bancorp Inc. | 732,250 | 16,695 | ||||
Cannae Holdings Inc. | 902,627 | 16,374 | ||||
Enact Holdings Inc. | 532,206 | 16,317 | ||||
Claros Mortgage Trust Inc. | 1,994,923 | 15,999 | ||||
1 | ARMOUR Residential REIT Inc. | 824,708 | 15,983 | |||
* | Encore Capital Group Inc. | 380,623 | 15,883 | |||
* | LendingClub Corp. | 1,785,663 | 15,107 | |||
Redwood Trust Inc. | 2,235,462 | 14,508 | ||||
Heartland Financial USA Inc. | 307,633 | 13,674 | ||||
Nelnet Inc. Class A | 130,677 | 13,180 | ||||
BrightSpire Capital Inc. Class A | 2,209,662 | 12,595 | ||||
* | PRA Group Inc. | 632,389 | 12,433 | |||
F&G Annuities & Life Inc. | 320,051 | 12,178 | ||||
Brookline Bancorp Inc. | 1,428,736 | 11,930 | ||||
* | ProAssurance Corp. | 862,901 | 10,545 | |||
Capitol Federal Financial Inc. | 1,908,798 | 10,479 | ||||
Tompkins Financial Corp. | 194,902 | 9,531 | ||||
* | Ambac Financial Group Inc. | 726,846 | 9,318 | |||
KKR Real Estate Finance Trust Inc. | 820,974 | 7,430 | ||||
GCM Grosvenor Inc. Class A | 707,396 | 6,904 | ||||
* | Columbia Financial Inc. | 443,084 | 6,633 | |||
* | AssetMark Financial Holdings Inc. | 188,884 | 6,526 | |||
* | World Acceptance Corp. | 49,462 | 6,112 | |||
Eagle Bancorp Inc. | 243,364 | 4,600 | ||||
TPG RE Finance Trust Inc. | 526,761 | 4,551 | ||||
United Fire Group Inc. | 150,312 | 3,230 | ||||
* | loanDepot Inc. Class A | 1,102,491 | 1,819 | |||
Associated Capital Group Inc. Class A | 19,349 | 658 | ||||
10,642,069 | ||||||
Health Care (6.2%) | ||||||
* | United Therapeutics Corp. | 750,493 | 239,070 | |||
* | Tenet Healthcare Corp. | 1,652,585 | 219,843 | |||
Universal Health Services Inc. Class B | 959,119 | 177,370 | ||||
Teleflex Inc. | 796,810 | 167,593 | ||||
Encompass Health Corp. | 1,703,334 | 146,129 | ||||
* | Henry Schein Inc. | 2,166,293 | 138,859 | |||
* | Solventum Corp. | 2,337,345 | 123,599 | |||
* | Elanco Animal Health Inc. | 8,359,772 | 120,632 | |||
* | DaVita Inc. | 815,976 | 113,070 | |||
* | Jazz Pharmaceuticals plc | 1,013,108 | 108,129 | |||
* | Acadia Healthcare Co. Inc. | 1,490,902 | 100,696 | |||
* | Bio-Rad Laboratories Inc. Class A | 337,142 | 92,077 | |||
Organon & Co. | 4,350,379 | 90,053 | ||||
DENTSPLY SIRONA Inc. | 3,512,587 | 87,499 | ||||
*,1 | Madrigal Pharmaceuticals Inc. | 306,368 | 85,832 | |||
* | Catalent Inc. | 1,454,238 | 81,772 | |||
* | Integer Holdings Corp. | 566,771 | 65,626 | |||
Select Medical Holdings Corp. | 1,759,627 | 61,693 | ||||
Perrigo Co. plc | 2,306,060 | 59,220 | ||||
* | Prestige Consumer Healthcare Inc. | 844,401 | 58,137 | |||
* | Amedisys Inc. | 552,694 | 50,737 | |||
* | Nuvalent Inc. Class A | 649,878 | 49,300 | |||
* | Envista Holdings Corp. | 2,907,233 | 48,347 | |||
* | ICU Medical Inc. | 391,553 | 46,497 | |||
* | Azenta Inc. | 866,593 | 45,600 |
Shares | Market Value• ($000) | |||||
* | Enovis Corp. | 927,585 | 41,927 | |||
* | Biohaven Ltd. | 1,194,809 | 41,472 | |||
* | Krystal Biotech Inc. | 217,977 | 40,029 | |||
* | Myriad Genetics Inc. | 1,454,457 | 35,576 | |||
* | Fortrea Holdings Inc. | 1,513,971 | 35,336 | |||
* | Iovance Biotherapeutics Inc. | 4,260,317 | 34,168 | |||
Premier Inc. Class A | 1,773,947 | 33,120 | ||||
* | Integra LifeSciences Holdings Corp. | 1,133,018 | 33,016 | |||
Patterson Cos. Inc. | 1,364,108 | 32,902 | ||||
* | Immunovant Inc. | 1,111,755 | 29,350 | |||
* | Ligand Pharmaceuticals Inc. | 288,671 | 24,323 | |||
National HealthCare Corp. | 221,403 | 24,000 | ||||
* | Supernus Pharmaceuticals Inc. | 883,432 | 23,632 | |||
* | Brookdale Senior Living Inc. | 3,108,711 | 21,232 | |||
* | Omnicell Inc. | 776,824 | 21,029 | |||
* | Owens & Minor Inc. | 1,229,339 | 16,596 | |||
* | Avanos Medical Inc. | 776,512 | 15,468 | |||
* | Amneal Pharmaceuticals Inc. | 2,349,419 | 14,919 | |||
* | Innoviva Inc. | 898,079 | 14,728 | |||
* | QuidelOrtho Corp. | 423,518 | 14,069 | |||
* | Healthcare Services Group Inc. | 1,245,872 | 13,181 | |||
*,1 | CG oncology Inc. | 393,634 | 12,427 | |||
Embecta Corp. | 975,501 | 12,194 | ||||
* | Kiniksa Pharmaceuticals International plc Class A | 608,353 | 11,358 | |||
* | Pediatrix Medical Group Inc. | 1,423,450 | 10,747 | |||
* | Pacira BioSciences Inc. | 372,869 | 10,668 | |||
* | Varex Imaging Corp. | 691,867 | 10,191 | |||
*,1 | BrightSpring Health Services Inc. | 868,731 | 9,869 | |||
*,1 | Waystar Holding Corp. | 352,386 | 7,576 | |||
* | Day One Biopharmaceuticals Inc. | 517,296 | 7,128 | |||
*,1 | Summit Therapeutics Inc. | 887,883 | 6,925 | |||
*,1 | Pacific Biosciences of California Inc. | 2,309,894 | 3,165 | |||
*,1 | OPKO Health Inc. | 2,063,313 | 2,579 | |||
*,1 | Multiplan Corp. | 2,738,077 | 1,063 | |||
*,1 | Tempus AI Inc. Class A | 8,856 | 310 | |||
*,1,2 | Synergy Pharmaceuticals LLC | 1,169,882 | — | |||
*,2 | OmniAb Inc. 12.5 Earnout | 53,581 | — | |||
*,2 | OmniAb Inc. 15 Earnout | 53,581 | — | |||
3,243,653 | ||||||
Industrials (23.4%) | ||||||
Booz Allen Hamilton Holding Corp. Class A | 2,187,683 | 336,684 | ||||
Carlisle Cos. Inc. | 805,265 | 326,301 | ||||
EMCOR Group Inc. | 795,024 | 290,247 | ||||
* | Builders FirstSource Inc. | 2,064,785 | 285,787 | |||
IDEX Corp. | 1,280,524 | 257,641 | ||||
Owens Corning | 1,465,949 | 254,665 | ||||
RPM International Inc. | 2,178,266 | 234,556 | ||||
Westrock Co. | 4,366,965 | 219,484 | ||||
Pentair plc | 2,808,527 | 215,330 | ||||
nVent Electric plc | 2,808,421 | 215,153 | ||||
AECOM | 2,302,832 | 202,972 | ||||
Tetra Tech Inc. | 904,994 | 185,053 | ||||
ITT Inc. | 1,392,209 | 179,846 | ||||
Allegion plc | 1,479,176 | 174,765 | ||||
Hubbell Inc. Class B | 454,095 | 165,963 | ||||
CH Robinson Worldwide Inc. | 1,881,799 | 165,824 | ||||
Huntington Ingalls Industries Inc. | 667,109 | 164,329 | ||||
AptarGroup Inc. | 1,120,947 | 157,841 | ||||
* | API Group Corp. | 4,174,725 | 157,095 | |||
Regal Rexnord Corp. | 1,125,268 | 152,159 | ||||
Crown Holdings Inc. | 2,042,814 | 151,965 | ||||
MKS Instruments Inc. | 1,136,717 | 148,432 | ||||
Donaldson Co. Inc. | 2,036,245 | 145,714 | ||||
Fortune Brands Innovations Inc. | 2,115,929 | 137,408 | ||||
WESCO International Inc. | 859,841 | 136,302 | ||||
Graphic Packaging Holding Co. | 5,198,374 | 136,249 | ||||
* | FTI Consulting Inc. | 603,871 | 130,152 | |||
Knight-Swift Transportation Holdings Inc. Class A | 2,597,220 | 129,653 | ||||
* | Axalta Coating Systems Ltd. | 3,732,584 | 127,542 |
Shares | Market Value• ($000) | |||||
Applied Industrial Technologies Inc. | 653,042 | 126,690 | ||||
* | Fluor Corp. | 2,895,929 | 126,118 | |||
Acuity Brands Inc. | 521,005 | 125,791 | ||||
Oshkosh Corp. | 1,106,361 | 119,708 | ||||
Crane Co. | 821,851 | 119,152 | ||||
MSA Safety Inc. | 632,912 | 118,791 | ||||
* | Kirby Corp. | 986,253 | 118,084 | |||
Allison Transmission Holdings Inc. | 1,479,840 | 112,320 | ||||
Berry Global Group Inc. | 1,838,604 | 108,202 | ||||
Robert Half Inc. | 1,686,378 | 107,894 | ||||
Flowserve Corp. | 2,227,108 | 107,124 | ||||
AGCO Corp. | 1,072,998 | 105,025 | ||||
* | Mohawk Industries Inc. | 918,293 | 104,309 | |||
Vontier Corp. | 2,611,912 | 99,775 | ||||
* | XPO Inc. | 937,585 | 99,525 | |||
Genpact Ltd. | 3,044,635 | 98,007 | ||||
* | Beacon Roofing Supply Inc. | 1,075,854 | 97,365 | |||
Sensata Technologies Holding plc | 2,550,003 | 95,345 | ||||
Valmont Industries Inc. | 341,607 | 93,754 | ||||
Esab Corp. | 971,046 | 91,696 | ||||
Louisiana-Pacific Corp. | 1,091,231 | 89,841 | ||||
Ryder System Inc. | 704,371 | 87,257 | ||||
MDU Resources Group Inc. | 3,449,154 | 86,574 | ||||
Sealed Air Corp. | 2,463,232 | 85,696 | ||||
Air Lease Corp. Class A | 1,789,782 | 85,068 | ||||
Watts Water Technologies Inc. Class A | 463,728 | 85,034 | ||||
Sonoco Products Co. | 1,662,189 | 84,306 | ||||
Brunswick Corp. | 1,143,054 | 83,180 | ||||
Atkore Inc. | 616,300 | 83,157 | ||||
Moog Inc. Class A | 486,519 | 81,395 | ||||
GATX Corp. | 601,194 | 79,574 | ||||
* | Summit Materials Inc. Class A | 2,063,040 | 75,528 | |||
Encore Wire Corp. | 253,863 | 73,577 | ||||
Brink's Co. | 714,572 | 73,172 | ||||
Matson Inc. | 549,132 | 71,920 | ||||
HB Fuller Co. | 920,886 | 70,871 | ||||
EnerSys | 679,167 | 70,307 | ||||
Western Union Co. | 5,723,625 | 69,943 | ||||
Zurn Elkay Water Solutions Corp. | 2,337,076 | 68,710 | ||||
* | Knife River Corp. | 957,620 | 67,167 | |||
* | ASGN Inc. | 737,681 | 65,041 | |||
Belden Inc. | 688,152 | 64,549 | ||||
Otter Tail Corp. | 707,340 | 61,956 | ||||
MSC Industrial Direct Co. Inc. Class A | 761,966 | 60,431 | ||||
Korn Ferry | 882,715 | 59,265 | ||||
Terex Corp. | 1,076,097 | 59,013 | ||||
* | MasTec Inc. | 537,647 | 57,523 | |||
Silgan Holdings Inc. | 1,354,736 | 57,346 | ||||
ManpowerGroup Inc. | 807,014 | 56,330 | ||||
* | Gates Industrial Corp. plc | 3,537,330 | 55,925 | |||
* | Middleby Corp. | 454,784 | 55,761 | |||
Insperity Inc. | 604,212 | 55,110 | ||||
* | GMS Inc. | 673,841 | 54,318 | |||
ABM Industries Inc. | 1,070,697 | 54,145 | ||||
* | SPX Technologies Inc. | 372,693 | 52,975 | |||
* | RXO Inc. | 1,988,442 | 51,998 | |||
Enpro Inc. | 354,427 | 51,594 | ||||
* | Alight Inc. Class A | 6,980,883 | 51,519 | |||
Crane NXT Co. | 821,430 | 50,452 | ||||
ADT Inc. | 6,513,415 | 49,502 | ||||
Griffon Corp. | 754,336 | 48,172 | ||||
Hillenbrand Inc. | 1,187,422 | 47,521 | ||||
Brady Corp. Class A | 706,232 | 46,625 | ||||
Granite Construction Inc. | 746,856 | 46,283 | ||||
* | Resideo Technologies Inc. | 2,346,527 | 45,898 | |||
ESCO Technologies Inc. | 435,594 | 45,755 | ||||
Albany International Corp. Class A | 528,377 | 44,621 | ||||
McGrath RentCorp | 415,267 | 44,247 | ||||
UniFirst Corp. | 254,887 | 43,721 | ||||
Primoris Services Corp. | 861,994 | 43,005 |
Shares | Market Value• ($000) | |||||
Hub Group Inc. Class A | 992,293 | 42,718 | ||||
Trinity Industries Inc. | 1,384,352 | 41,420 | ||||
* | AAR Corp. | 569,328 | 41,390 | |||
* | Atmus Filtration Technologies Inc. | 1,410,115 | 40,583 | |||
ArcBest Corp. | 376,556 | 40,322 | ||||
* | Dycom Industries Inc. | 233,793 | 39,455 | |||
* | OSI Systems Inc. | 273,976 | 37,677 | |||
Bread Financial Holdings Inc. | 838,824 | 37,378 | ||||
AZZ Inc. | 479,081 | 37,009 | ||||
Werner Enterprises Inc. | 1,019,260 | 36,520 | ||||
EVERTEC Inc. | 1,089,591 | 36,229 | ||||
* | Aurora Innovation Inc. Class A | 13,034,571 | 36,106 | |||
* | Mirion Technologies Inc. Class A | 3,165,548 | 33,998 | |||
Barnes Group Inc. | 814,811 | 33,741 | ||||
*,1 | Joby Aviation Inc. | 6,588,825 | 33,603 | |||
* | NCR Atleos Corp. | 1,220,774 | 32,985 | |||
* | AMN Healthcare Services Inc. | 641,783 | 32,879 | |||
* | Spirit AeroSystems Holdings Inc. Class A | 988,780 | 32,501 | |||
Standex International Corp. | 200,525 | 32,315 | ||||
Kennametal Inc. | 1,330,774 | 31,326 | ||||
* | Hillman Solutions Corp. | 3,316,096 | 29,347 | |||
* | O-I Glass Inc. | 2,634,155 | 29,318 | |||
* | Hayward Holdings Inc. | 2,362,373 | 29,057 | |||
* | Huron Consulting Group Inc. | 289,456 | 28,511 | |||
Vestis Corp. | 2,223,721 | 27,196 | ||||
Greenbrier Cos. Inc. | 500,281 | 24,789 | ||||
Greif Inc. Class A | 415,436 | 23,875 | ||||
Apogee Enterprises Inc. | 374,325 | 23,521 | ||||
International Seaways Inc. | 396,742 | 23,459 | ||||
* | CoreCivic Inc. | 1,788,041 | 23,209 | |||
H&E Equipment Services Inc. | 525,212 | 23,199 | ||||
REV Group Inc. | 832,328 | 20,717 | ||||
* | JELD-WEN Holding Inc. | 1,454,284 | 19,589 | |||
Kforce Inc. | 313,263 | 19,463 | ||||
TriMas Corp. | 689,143 | 17,614 | ||||
* | Thermon Group Holdings Inc. | 571,177 | 17,569 | |||
* | AvidXchange Holdings Inc. | 1,401,882 | 16,907 | |||
Deluxe Corp. | 744,771 | 16,728 | ||||
Wabash National Corp. | 723,587 | 15,803 | ||||
Quanex Building Products Corp. | 560,095 | 15,487 | ||||
Schneider National Inc. Class B | 626,636 | 15,140 | ||||
* | Air Transport Services Group Inc. | 1,056,239 | 14,650 | |||
Pitney Bowes Inc. | 2,874,192 | 14,601 | ||||
First Advantage Corp. | 859,629 | 13,814 | ||||
Helios Technologies Inc. | 280,789 | 13,408 | ||||
* | Proto Labs Inc. | 428,258 | 13,229 | |||
*,1 | Rocket Lab USA Inc. | 2,715,719 | 13,035 | |||
* | BrightView Holdings Inc. | 958,448 | 12,747 | |||
Hyster-Yale Inc. | 166,270 | 11,594 | ||||
Astec Industries Inc. | 385,116 | 11,423 | ||||
Kelly Services Inc. Class A | 517,545 | 11,081 | ||||
* | American Woodmark Corp. | 134,023 | 10,534 | |||
Heartland Express Inc. | 735,489 | 9,069 | ||||
* | Conduent Inc. | 2,595,984 | 8,463 | |||
Pactiv Evergreen Inc. | 606,092 | 6,861 | ||||
Gorman-Rupp Co. | 177,358 | 6,511 | ||||
* | Triumph Group Inc. | 326,001 | 5,024 | |||
Kronos Worldwide Inc. | 389,082 | 4,883 | ||||
* | Sterling Check Corp. | 289,234 | 4,281 | |||
* | ZipRecruiter Inc. Class A | 454,130 | 4,128 | |||
1 | Forward Air Corp. | 201,298 | 3,833 | |||
National Presto Industries Inc. | 45,178 | 3,394 | ||||
Greif Inc. Class B | 35,193 | 2,199 | ||||
TTEC Holdings Inc. | 161,344 | 949 | ||||
12,303,029 | ||||||
Real Estate (8.5%) | ||||||
Kimco Realty Corp. | 11,403,701 | 221,916 | ||||
Gaming & Leisure Properties Inc. | 4,363,047 | 197,253 | ||||
Camden Property Trust | 1,802,220 | 196,640 |
Shares | Market Value• ($000) | |||||
Regency Centers Corp. | 3,122,503 | 194,220 | ||||
* | Jones Lang LaSalle Inc. | 804,573 | 165,163 | |||
Boston Properties Inc. | 2,391,033 | 147,192 | ||||
Omega Healthcare Investors Inc. | 4,180,003 | 143,165 | ||||
Federal Realty Investment Trust | 1,400,270 | 141,385 | ||||
EastGroup Properties Inc. | 814,408 | 138,531 | ||||
NNN REIT Inc. | 3,101,635 | 132,130 | ||||
* | Zillow Group Inc. Class C | 2,657,327 | 123,273 | |||
Brixmor Property Group Inc. | 5,085,140 | 117,416 | ||||
Healthpeak Properties Inc. | 5,952,840 | 116,676 | ||||
STAG Industrial Inc. | 3,075,154 | 110,890 | ||||
First Industrial Realty Trust Inc. | 2,238,750 | 106,363 | ||||
Agree Realty Corp. | 1,702,292 | 105,440 | ||||
Lamar Advertising Co. Class A | 742,520 | 88,753 | ||||
Vornado Realty Trust | 2,900,042 | 76,242 | ||||
Rayonier Inc. | 2,514,611 | 73,150 | ||||
1 | SL Green Realty Corp. | 1,114,010 | 63,098 | |||
Kilroy Realty Corp. | 1,985,437 | 61,886 | ||||
Sabra Health Care REIT Inc. | 3,916,115 | 60,308 | ||||
Cousins Properties Inc. | 2,572,525 | 59,554 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 1,928,944 | 57,097 | ||||
Macerich Co. | 3,649,664 | 56,351 | ||||
EPR Properties | 1,280,152 | 53,741 | ||||
Apple Hospitality REIT Inc. | 3,689,804 | 53,650 | ||||
PotlatchDeltic Corp. | 1,344,979 | 52,979 | ||||
Park Hotels & Resorts Inc. | 3,384,459 | 50,699 | ||||
Broadstone Net Lease Inc. | 3,187,633 | 50,588 | ||||
Tanger Inc. | 1,846,843 | 50,068 | ||||
COPT Defense Properties | 1,905,394 | 47,692 | ||||
National Health Investors Inc. | 697,845 | 47,265 | ||||
Highwoods Properties Inc. | 1,792,775 | 47,096 | ||||
SITE Centers Corp. | 3,190,284 | 46,259 | ||||
1 | Medical Properties Trust Inc. | 10,134,657 | 43,680 | |||
LXP Industrial Trust | 4,729,804 | 43,136 | ||||
* | Cushman & Wakefield plc | 3,680,907 | 38,281 | |||
Douglas Emmett Inc. | 2,831,011 | 37,681 | ||||
Urban Edge Properties | 2,009,139 | 37,109 | ||||
Sunstone Hotel Investors Inc. | 3,445,746 | 36,042 | ||||
Outfront Media Inc. | 2,385,142 | 34,108 | ||||
Phillips Edison & Co. Inc. | 1,033,627 | 33,810 | ||||
* | Equity Commonwealth | 1,724,539 | 33,456 | |||
* | GEO Group Inc. | 2,190,036 | 31,449 | |||
Acadia Realty Trust | 1,745,458 | 31,279 | ||||
CareTrust REIT Inc. | 1,204,713 | 30,238 | ||||
* | Compass Inc. Class A | 8,362,146 | 30,104 | |||
Global Net Lease Inc. | 3,897,065 | 28,643 | ||||
DiamondRock Hospitality Co. | 3,376,503 | 28,531 | ||||
* | Zillow Group Inc. Class A | 605,469 | 27,270 | |||
InvenTrust Properties Corp. | 1,090,844 | 27,009 | ||||
Retail Opportunity Investments Corp. | 2,048,284 | 25,460 | ||||
LTC Properties Inc. | 735,474 | 25,374 | ||||
Elme Communities | 1,488,667 | 23,714 | ||||
JBG SMITH Properties | 1,554,731 | 23,679 | ||||
Newmark Group Inc. Class A | 2,174,215 | 22,242 | ||||
Getty Realty Corp. | 821,645 | 21,905 | ||||
Empire State Realty Trust Inc. Class A | 2,221,631 | 20,839 | ||||
Alexander & Baldwin Inc. | 1,228,027 | 20,827 | ||||
DigitalBridge Group Inc. | 1,468,237 | 20,115 | ||||
Veris Residential Inc. | 1,326,083 | 19,891 | ||||
* | Apartment Investment & Management Co. Class A | 2,204,656 | 18,277 | |||
American Assets Trust Inc. | 772,588 | 17,291 | ||||
Centerspace | 252,245 | 17,059 | ||||
Piedmont Office Realty Trust Inc. Class A | 2,095,702 | 15,194 | ||||
Service Properties Trust | 2,803,798 | 14,412 | ||||
Pebblebrook Hotel Trust | 1,022,314 | 14,057 | ||||
Brandywine Realty Trust | 2,768,468 | 12,403 | ||||
Xenia Hotels & Resorts Inc. | 865,250 | 12,399 | ||||
Marcus & Millichap Inc. | 392,465 | 12,370 | ||||
Hudson Pacific Properties Inc. | 2,387,546 | 11,484 | ||||
Uniti Group Inc. | 3,861,281 | 11,275 |
Shares | Market Value• ($000) | |||||
* | Forestar Group Inc. | 299,511 | 9,581 | |||
Saul Centers Inc. | 202,808 | 7,457 | ||||
RMR Group Inc. Class A | 252,820 | 5,714 | ||||
Summit Hotel Properties Inc. | 867,924 | 5,199 | ||||
Bridge Investment Group Holdings Inc. Class A | 633,295 | 4,699 | ||||
Alexander's Inc. | 17,289 | 3,888 | ||||
* | Anywhere Real Estate Inc. | 795,768 | 2,634 | |||
Universal Health Realty Income Trust | 52,426 | 2,052 | ||||
*,2 | Spirit MTA REIT | 334,911 | 30 | |||
4,447,476 | ||||||
Technology (6.2%) | ||||||
Jabil Inc. | 1,938,422 | 210,881 | ||||
* | F5 Inc. | 991,541 | 170,773 | |||
Leidos Holdings Inc. | 1,143,672 | 166,839 | ||||
* | CACI International Inc. Class A | 377,174 | 162,234 | |||
KBR Inc. | 2,271,511 | 145,695 | ||||
TD SYNNEX Corp. | 1,112,088 | 128,335 | ||||
* | Cirrus Logic Inc. | 906,228 | 115,689 | |||
* | Insight Enterprises Inc. | 550,751 | 109,247 | |||
* | Arrow Electronics Inc. | 900,529 | 108,748 | |||
* | Kyndryl Holdings Inc. | 3,899,399 | 102,593 | |||
Science Applications International Corp. | 867,379 | 101,960 | ||||
* | Qorvo Inc. | 806,425 | 93,578 | |||
* | Coherent Corp. | 1,289,541 | 93,440 | |||
* | EPAM Systems Inc. | 464,403 | 87,359 | |||
* | CCC Intelligent Solutions Holdings Inc. | 7,796,999 | 86,625 | |||
Avnet Inc. | 1,529,008 | 78,729 | ||||
Amkor Technology Inc. | 1,874,594 | 75,021 | ||||
* | Maplebear Inc. | 2,232,052 | 71,738 | |||
* | Parsons Corp. | 808,698 | 66,160 | |||
Concentrix Corp. | 948,907 | 60,047 | ||||
* | Sanmina Corp. | 891,191 | 59,041 | |||
* | Synaptics Inc. | 668,166 | 58,932 | |||
* | DXC Technology Co. | 3,026,743 | 57,781 | |||
* | IAC Inc. | 1,222,641 | 57,281 | |||
* | Teradata Corp. | 1,635,899 | 56,537 | |||
Dun & Bradstreet Holdings Inc. | 5,614,402 | 51,989 | ||||
* | Plexus Corp. | 463,315 | 47,805 | |||
Vishay Intertechnology Inc. | 2,117,008 | 47,209 | ||||
* | Ziff Davis Inc. | 780,219 | 42,951 | |||
Progress Software Corp. | 731,129 | 39,671 | ||||
* | IPG Photonics Corp. | 461,832 | 38,974 | |||
* | RingCentral Inc. Class A | 1,321,796 | 37,275 | |||
* | Informatica Inc. Class A | 1,080,159 | 33,355 | |||
* | Blackbaud Inc. | 436,697 | 33,263 | |||
* | Verint Systems Inc. | 992,008 | 31,943 | |||
* | TTM Technologies Inc. | 1,635,651 | 31,781 | |||
* | NCR Voyix Corp. | 2,330,127 | 28,777 | |||
Benchmark Electronics Inc. | 579,252 | 22,857 | ||||
Xerox Holdings Corp. | 1,871,293 | 21,744 | ||||
* | NetScout Systems Inc. | 1,147,672 | 20,991 | |||
CSG Systems International Inc. | 477,079 | 19,641 | ||||
Adeia Inc. | 1,743,673 | 19,503 | ||||
* | Bumble Inc. Class A | 1,601,592 | 16,833 | |||
* | ScanSource Inc. | 376,340 | 16,676 | |||
* | E2open Parent Holdings Inc. | 3,629,291 | 16,295 | |||
*,1 | Rubrik Inc. Class A | 455,427 | 13,963 | |||
*,1 | Klaviyo Inc. Class A | 534,969 | 13,315 | |||
* | MaxLinear Inc. Class A | 632,771 | 12,744 | |||
* | Couchbase Inc. | 636,600 | 11,624 | |||
SolarWinds Corp. | 853,382 | 10,283 | ||||
* | N-able Inc. | 546,872 | 8,329 | |||
*,1 | Trump Media & Technology Group Corp. | 230,544 | 7,550 | |||
* | Thoughtworks Holding Inc. | 1,654,640 | 4,699 | |||
* | Vimeo Inc. | 1,213,287 | 4,526 | |||
Methode Electronics Inc. | 285,252 | 2,952 | ||||
* | Cerence Inc. | 336,611 | 953 | |||
* | SecureWorks Corp. Class A | 34,654 | 243 | |||
3,235,977 |
Shares | Market Value• ($000) | |||||
Telecommunications (1.0%) | ||||||
Juniper Networks Inc. | 5,497,627 | 200,443 | ||||
* | Frontier Communications Parent Inc. | 4,204,535 | 110,075 | |||
* | EchoStar Corp. Class A | 2,015,608 | 35,898 | |||
Telephone & Data Systems Inc. | 1,524,748 | 31,608 | ||||
* | Lumentum Holdings Inc. | 571,755 | 29,114 | |||
* | Viavi Solutions Inc. | 3,776,366 | 25,944 | |||
InterDigital Inc. | 213,452 | 24,880 | ||||
* | Viasat Inc. | 1,916,164 | 24,335 | |||
* | Lumen Technologies Inc. | 17,170,080 | 18,887 | |||
Cable One Inc. | 37,916 | 13,422 | ||||
* | United States Cellular Corp. | 219,915 | 12,276 | |||
*,1 | Altice USA Inc. Class A | 3,718,511 | 7,586 | |||
534,468 | ||||||
Utilities (4.7%) | ||||||
Atmos Energy Corp. | 2,364,398 | 275,807 | ||||
NRG Energy Inc. | 3,527,596 | 274,659 | ||||
Essential Utilities Inc. | 4,164,296 | 155,453 | ||||
Pinnacle West Capital Corp. | 1,921,048 | 146,730 | ||||
OGE Energy Corp. | 3,388,291 | 120,962 | ||||
NiSource Inc. | 3,791,945 | 109,246 | ||||
AES Corp. | 6,010,928 | 105,612 | ||||
Evergy Inc. | 1,846,498 | 97,809 | ||||
* | Stericycle Inc. | 1,569,611 | 91,242 | |||
National Fuel Gas Co. | 1,554,978 | 84,264 | ||||
UGI Corp. | 3,631,327 | 83,157 | ||||
Southwest Gas Holdings Inc. | 1,151,198 | 81,021 | ||||
IDACORP Inc. | 856,256 | 79,760 | ||||
Portland General Electric Co. | 1,742,513 | 75,346 | ||||
New Jersey Resources Corp. | 1,662,943 | 71,074 | ||||
Black Hills Corp. | 1,166,098 | 63,412 | ||||
ONE Gas Inc. | 956,996 | 61,104 | ||||
ALLETE Inc. | 975,548 | 60,825 | ||||
PNM Resources Inc. | 1,525,691 | 56,390 | ||||
Spire Inc. | 855,464 | 51,952 | ||||
Northwestern Energy Group Inc. | 1,036,760 | 51,921 | ||||
Avista Corp. | 1,322,678 | 45,778 | ||||
MGE Energy Inc. | 611,975 | 45,727 | ||||
American States Water Co. | 629,729 | 45,700 | ||||
Clearway Energy Inc. Class C | 1,400,708 | 34,584 | ||||
Northwest Natural Holding Co. | 643,263 | 23,228 | ||||
Hawaiian Electric Industries Inc. | 1,865,954 | 16,831 | ||||
*,1 | NuScale Power Corp. Class A | 1,197,510 | 13,999 | |||
Clearway Energy Inc. Class A | 578,911 | 13,118 | ||||
* | Enviri Corp. | 677,381 | 5,846 | |||
Excelerate Energy Inc. Class A | 276,060 | 5,091 | ||||
*,1 | Net Power Inc. | 215,294 | 2,116 | |||
2,449,764 | ||||||
Total Common Stocks (Cost $41,241,478) | 52,255,085 | |||||
Temporary Cash Investments (1.6%) | ||||||
Money Market Fund (1.6%) | ||||||
3,4 | Vanguard Market Liquidity Fund, 5.380% (Cost $834,769) | 8,351,343 | 835,051 | |||
Total Investments (101.1%) (Cost $42,076,247) | 53,090,136 | |||||
Other Assets and Liabilities—Net (-1.1%) | (593,620) | |||||
Net Assets (100%) | 52,496,516 |
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 $550,333,000. |
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 $594,350,000 was received for securities on loan, of which $593,347,000 is held in Vanguard Market Liquidity Fund and $1,003,000 is held in cash. |
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 2024 | 876 | 90,447 | 930 |
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) |
Atmos Energy Corp. | 1/31/25 | CITNA | 21,793 | (5.330) | 208 | — |
Blackstone Mortgage Trust Inc. Class A | 1/31/25 | GSI | 8,606 | (5.330) | 40 | — |
Dick's Sporting Goods Inc. | 1/31/25 | CITNA | 59,186 | (5.330) | — | (3,259) |
Invesco Ltd. | 8/30/24 | BANA | 2,514 | (5.880) | — | (130) |
Williams-Sonoma Inc. | 1/31/25 | CITNA | 65,975 | (5.330) | — | (2,685) |
248 | (6,074) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
CITNA—Citibank, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $41,241,478) | 52,255,085 |
Affiliated Issuers (Cost $834,769) | 835,051 |
Total Investments in Securities | 53,090,136 |
Investment in Vanguard | 1,592 |
Cash | 26,012 |
Cash Collateral Pledged—Futures Contracts | 4,270 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 3,250 |
Receivables for Investment Securities Sold | 92,527 |
Receivables for Accrued Income | 70,017 |
Receivables for Capital Shares Issued | 13,925 |
Variation Margin Receivable—Futures Contracts | 176 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 248 |
Total Assets | 53,302,153 |
Liabilities | |
Payables for Investment Securities Purchased | 34,638 |
Collateral for Securities on Loan | 594,350 |
Payables for Capital Shares Redeemed | 15,332 |
Payables for Distributions | 153,751 |
Payables to Vanguard | 1,492 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 6,074 |
Total Liabilities | 805,637 |
Net Assets | 52,496,516 |
1 Includes $550,333,000 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2024, net assets consisted of: | |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Paid-in Capital | 46,231,445 |
Total Distributable Earnings (Loss) | 6,265,071 |
Net Assets | 52,496,516 |
Investor Shares—Net Assets | |
Applicable to 2,087,692 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 91,373 |
Net Asset Value Per Share—Investor Shares | $43.77 |
ETF Shares—Net Assets | |
Applicable to 151,080,864 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 27,571,271 |
Net Asset Value Per Share—ETF Shares | $182.49 |
Admiral Shares—Net Assets | |
Applicable to 247,011,502 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 19,369,588 |
Net Asset Value Per Share—Admiral Shares | $78.42 |
Institutional Shares—Net Assets | |
Applicable to 124,668,994 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 5,464,284 |
Net Asset Value Per Share—Institutional Shares | $43.83 |
Six Months Ended June 30, 2024 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 495,141 |
Interest2 | 4,670 |
Securities Lending—Net | 4,331 |
Total Income | 504,142 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 515 |
Management and Administrative—Investor Shares | 88 |
Management and Administrative—ETF Shares | 8,016 |
Management and Administrative—Admiral Shares | 5,936 |
Management and Administrative—Institutional Shares | 1,427 |
Marketing and Distribution—Investor Shares | 3 |
Marketing and Distribution—ETF Shares | 696 |
Marketing and Distribution—Admiral Shares | 460 |
Marketing and Distribution—Institutional Shares | 101 |
Custodian Fees | 205 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 479 |
Shareholders’ Reports—Admiral Shares | 126 |
Shareholders’ Reports—Institutional Shares | 66 |
Trustees’ Fees and Expenses | 15 |
Other Expenses | 7 |
Total Expenses | 18,140 |
Net Investment Income | 486,002 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 909,189 |
Futures Contracts | 370 |
Swap Contracts | 44,776 |
Realized Net Gain (Loss) | 954,335 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (138,373) |
Futures Contracts | (585) |
Swap Contracts | (17,580) |
Change in Unrealized Appreciation (Depreciation) | (156,538) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,283,799 |
1 | Dividends are net of foreign withholding taxes of $433,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $4,538,000, $19,000, and $59,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $1,689,974,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 486,002 | 1,108,044 | |
Realized Net Gain (Loss) | 954,335 | 1,330,122 | |
Change in Unrealized Appreciation (Depreciation) | (156,538) | 4,746,956 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,283,799 | 7,185,122 | |
Distributions | |||
Investor Shares | (950) | (2,615) | |
ETF Shares | (296,260) | (573,501) | |
Admiral Shares | (207,511) | (412,279) | |
Institutional Shares | (60,004) | (118,067) | |
Total Distributions | (564,725) | (1,106,462) | |
Capital Share Transactions | |||
Investor Shares | (22,234) | (51,145) | |
ETF Shares | 157,254 | 124,360 | |
Admiral Shares | (317,090) | (361,227) | |
Institutional Shares | (173,025) | 105,555 | |
Net Increase (Decrease) from Capital Share Transactions | (355,095) | (182,457) | |
Total Increase (Decrease) | 363,979 | 5,896,203 | |
Net Assets | |||
Beginning of Period | 52,132,537 | 46,236,334 | |
End of Period | 52,496,516 | 52,132,537 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $43.17 | $38.09 | $42.87 | $34.08 | $32.86 | $27.35 |
Investment Operations | ||||||
Net Investment Income1 | .374 | .855 | .722 | .724 | .550 | .543 |
Net Realized and Unrealized Gain (Loss) on Investments | .667 | 5.089 | (4.777) | 8.767 | 1.208 | 5.608 |
Total from Investment Operations | 1.041 | 5.944 | (4.055) | 9.491 | 1.758 | 6.151 |
Distributions | ||||||
Dividends from Net Investment Income | (.441) | (.864) | (.725) | (.701) | (.538) | (.641) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.441) | (.864) | (.725) | (.701) | (.538) | (.641) |
Net Asset Value, End of Period | $43.77 | $43.17 | $38.09 | $42.87 | $34.08 | $32.86 |
Total Return2 | 2.40% | 15.86% | -9.43% | 27.96% | 5.72% | 22.61% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $91 | $112 | $149 | $208 | $234 | $255 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19%3 | 0.19%3 | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 1.83% | 2.18% | 1.83% | 1.78% | 1.98% | 1.76% |
Portfolio Turnover Rate4 | 8% | 16% | 13% | 16% | 26% | 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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $180.00 | $158.84 | $178.77 | $142.13 | $137.05 | $114.05 |
Investment Operations | ||||||
Net Investment Income1 | 1.684 | 3.809 | 3.273 | 3.131 | 2.584 | 2.840 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.765 | 21.159 | (19.975) | 36.640 | 4.884 | 22.984 |
Total from Investment Operations | 4.449 | 24.968 | (16.702) | 39.771 | 7.468 | 25.824 |
Distributions | ||||||
Dividends from Net Investment Income | (1.959) | (3.808) | (3.228) | (3.131) | (2.388) | (2.824) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.959) | (3.808) | (3.228) | (3.131) | (2.388) | (2.824) |
Net Asset Value, End of Period | $182.49 | $180.00 | $158.84 | $178.77 | $142.13 | $137.05 |
Total Return | 2.46% | 16.00% | -9.29% | 28.07% | 5.82% | 22.76% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $27,571 | $27,036 | $23,786 | $26,854 | $17,837 | $14,808 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07%2 | 0.07%2 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.96% | 2.33% | 1.99% | 1.84% | 2.23% | 2.19% |
Portfolio Turnover Rate3 | 8% | 16% | 13% | 16% | 26% | 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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $77.34 | $68.25 | $76.81 | $61.07 | $58.89 | $49.01 |
Investment Operations | ||||||
Net Investment Income1 | .722 | 1.630 | 1.403 | 1.381 | 1.058 | 1.230 |
Net Realized and Unrealized Gain (Loss) on Investments | 1.200 | 9.096 | (8.576) | 15.704 | 2.148 | 9.863 |
Total from Investment Operations | 1.922 | 10.726 | (7.173) | 17.085 | 3.206 | 11.093 |
Distributions | ||||||
Dividends from Net Investment Income | (.842) | (1.636) | (1.387) | (1.345) | (1.026) | (1.213) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.842) | (1.636) | (1.387) | (1.345) | (1.026) | (1.213) |
Net Asset Value, End of Period | $78.42 | $77.34 | $68.25 | $76.81 | $61.07 | $58.89 |
Total Return2 | 2.47% | 15.99% | -9.31% | 28.09% | 5.85% | 22.76% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $19,370 | $19,421 | $17,505 | $19,307 | $14,314 | $13,907 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07%3 | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.96% | 2.32% | 1.99% | 1.89% | 2.13% | 2.21% |
Portfolio Turnover Rate4 | 8% | 16% | 13% | 16% | 26% | 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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $43.23 | $38.15 | $42.94 | $34.14 | $32.92 | $27.39 |
Investment Operations | ||||||
Net Investment Income1 | .404 | .915 | .796 | .781 | .597 | .684 |
Net Realized and Unrealized Gain (Loss) on Investments | .669 | 5.083 | (4.806) | 8.775 | 1.199 | 5.527 |
Total from Investment Operations | 1.073 | 5.998 | (4.010) | 9.556 | 1.796 | 6.211 |
Distributions | ||||||
Dividends from Net Investment Income | (.473) | (.918) | (.780) | (.756) | (.576) | (.681) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.473) | (.918) | (.780) | (.756) | (.576) | (.681) |
Net Asset Value, End of Period | $43.83 | $43.23 | $38.15 | $42.94 | $34.14 | $32.92 |
Total Return | 2.47% | 15.99% | -9.31% | 28.11% | 5.86% | 22.81% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $5,464 | $5,564 | $4,797 | $4,733 | $3,774 | $3,632 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06%2 | 0.06%2 | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.96% | 2.33% | 2.02% | 1.91% | 2.14% | 2.20% |
Portfolio Turnover Rate3 | 8% | 16% | 13% | 16% | 26% | 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. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 52,255,055 | — | 30 | 52,255,085 |
Temporary Cash Investments | 835,051 | — | — | 835,051 |
Total | 53,090,106 | — | 30 | 53,090,136 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 930 | — | — | 930 |
Swap Contracts | — | 248 | — | 248 |
Total | 930 | 248 | — | 1,178 |
Liabilities | ||||
Swap Contracts | — | 6,074 | — | 6,074 |
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 | 42,134,440 |
Gross Unrealized Appreciation | 14,762,508 |
Gross Unrealized Depreciation | (3,811,708) |
Net Unrealized Appreciation (Depreciation) | 10,950,800 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 4,357 | 101 | 10,700 | 270 | |
Issued in Lieu of Cash Distributions | 950 | 21 | 2,615 | 67 | |
Redeemed | (27,541) | (634) | (64,460) | (1,642) | |
Net Increase (Decrease)—Investor Shares | (22,234) | (512) | (51,145) | (1,305) | |
ETF Shares | |||||
Issued | 3,504,997 | 19,254 | 5,641,115 | 34,285 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (3,347,743) | (18,375) | (5,516,755) | (33,825) | |
Net Increase (Decrease)—ETF Shares | 157,254 | 879 | 124,360 | 460 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Admiral Shares | |||||
Issued | 1,205,403 | 15,392 | 2,405,153 | 34,163 | |
Issued in Lieu of Cash Distributions | 181,516 | 2,283 | 360,909 | 5,150 | |
Redeemed | (1,704,009) | (21,762) | (3,127,289) | (44,688) | |
Net Increase (Decrease)—Admiral Shares | (317,090) | (4,087) | (361,227) | (5,375) | |
Institutional Shares | |||||
Issued | 396,924 | 9,065 | 804,902 | 20,622 | |
Issued in Lieu of Cash Distributions | 57,572 | 1,295 | 113,084 | 2,885 | |
Redeemed | (627,521) | (14,394) | (812,431) | (20,535) | |
Net Increase (Decrease)—Institutional Shares | (173,025) | (4,034) | 105,555 | 2,972 |
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 |
Extended Market Index Fund | 1 |
Mid-Cap Index Fund | 68 |
Mid-Cap Growth Index Fund | 87 |
Mid-Cap Value Index Fund | 101 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.7%) | ||||||
Communication Services (4.1%) | ||||||
* | Trade Desk Inc. Class A | 6,748,524 | 659,128 | |||
* | Pinterest Inc. Class A | 9,085,944 | 400,418 | |||
* | ROBLOX Corp. Class A | 7,614,133 | 283,322 | |||
* | Snap Inc. Class A | 15,570,942 | 258,633 | |||
* | Liberty Media Corp.-Liberty Formula One Class C | 3,283,455 | 235,883 | |||
New York Times Co. Class A | 2,472,091 | 126,596 | ||||
* | Roku Inc. Class A | 1,914,662 | 114,746 | |||
* | Liberty Broadband Corp. Class C | 1,800,307 | 98,693 | |||
TKO Group Holdings Inc. Class A | 893,961 | 96,539 | ||||
* | Frontier Communications Parent Inc. | 3,368,517 | 88,188 | |||
Nexstar Media Group Inc. Class A | 470,826 | 78,162 | ||||
Endeavor Group Holdings Inc. Class A | 2,829,807 | 76,490 | ||||
1 | Warner Music Group Corp. Class A | 2,137,139 | 65,503 | |||
* | Liberty Global Ltd. Class C | 3,568,725 | 63,702 | |||
* | ZoomInfo Technologies Inc. Class A | 4,333,098 | 55,334 | |||
* | Liberty Media Corp.-Liberty SiriusXM | 2,369,395 | 52,506 | |||
Iridium Communications Inc. | 1,850,482 | 49,260 | ||||
* | IAC Inc. | 1,044,564 | 48,938 | |||
* | Madison Square Garden Sports Corp. | 249,158 | 46,874 | |||
* | Ziff Davis Inc. | 685,438 | 37,733 | |||
* | Yelp Inc. Class A | 1,015,613 | 37,527 | |||
Cogent Communications Holdings Inc. | 648,966 | 36,628 | ||||
* | Cinemark Holdings Inc. | 1,643,217 | 35,526 | |||
TEGNA Inc. | 2,511,052 | 35,004 | ||||
* | EchoStar Corp. Class A | 1,802,899 | 32,110 | |||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 1,425,469 | 31,574 | |||
Telephone & Data Systems Inc. | 1,521,197 | 31,534 | ||||
* | Cargurus Inc. Class A | 1,195,806 | 31,330 | |||
* | TripAdvisor Inc. | 1,672,202 | 29,782 | |||
*,1 | Reddit Inc. Class A | 454,835 | 29,059 | |||
* | Liberty Global Ltd. Class A | 1,647,395 | 28,714 | |||
* | Liberty Media Corp.-Liberty Live Class C | 748,935 | 28,662 | |||
*,1 | AMC Entertainment Holdings Inc. Class A | 5,603,046 | 27,903 | |||
John Wiley & Sons Inc. Class A | 629,537 | 25,622 | ||||
*,1 | AST SpaceMobile Inc. Class A | 2,187,412 | 25,396 | |||
* | Magnite Inc. | 1,877,163 | 24,948 | |||
1 | Cable One Inc. | 70,324 | 24,895 | |||
*,1 | Trump Media & Technology Group Corp. | 752,472 | 24,643 | |||
* | Madison Square Garden Entertainment Corp. Class A | 636,919 | 21,802 | |||
* | Liberty Media Corp.-Liberty Formula One Class A | 322,549 | 20,717 | |||
* | Atlanta Braves Holdings Inc. Class C | 495,450 | 19,541 | |||
* | Cars.com Inc. | 957,628 | 18,865 | |||
* | Lumen Technologies Inc. | 15,712,377 | 17,284 | |||
* | Lions Gate Entertainment Corp. Class B | 1,960,312 | 16,800 | |||
* | Liberty Latin America Ltd. Class C | 1,599,761 | 15,390 | |||
* | Bumble Inc. Class A | 1,411,169 | 14,831 | |||
* | Sphere Entertainment Co. | 411,787 | 14,437 | |||
Shutterstock Inc. | 369,164 | 14,287 | ||||
* | QuinStreet Inc. | 814,791 | 13,517 | |||
* | PubMatic Inc. Class A | 644,578 | 13,091 | |||
* | Globalstar Inc. | 11,583,690 | 12,974 | |||
Shenandoah Telecommunications Co. | 792,624 | 12,944 | ||||
Scholastic Corp. | 364,560 | 12,931 | ||||
* | TechTarget Inc. | 402,933 | 12,559 | |||
1 | Sirius XM Holdings Inc. | 4,309,229 | 12,195 | |||
* | United States Cellular Corp. | 216,181 | 12,067 | |||
* | Lions Gate Entertainment Corp. Class A | 1,263,357 | 11,901 | |||
* | Stagwell Inc. Class A | 1,681,913 | 11,471 | |||
IDT Corp. Class B | 304,257 | 10,929 |
Shares | Market Value• ($000) | |||||
* | ZipRecruiter Inc. Class A | 1,184,972 | 10,771 | |||
* | Anterix Inc. | 261,084 | 10,336 | |||
* | Integral Ad Science Holding Corp. | 1,026,491 | 9,977 | |||
*,1 | Atlanta Braves Holdings Inc. Class A | 229,555 | 9,488 | |||
* | Gannett Co. Inc. | 2,050,351 | 9,452 | |||
* | Vimeo Inc. | 2,526,158 | 9,423 | |||
* | Gogo Inc. | 964,248 | 9,276 | |||
* | Liberty Media Corp.-Liberty Live Class A | 239,192 | 8,972 | |||
* | Thryv Holdings Inc. | 496,552 | 8,849 | |||
Playtika Holding Corp. | 1,092,398 | 8,597 | ||||
* | Clear Channel Outdoor Holdings Inc. | 5,655,538 | 7,974 | |||
Sinclair Inc. | 589,048 | 7,852 | ||||
* | Liberty Latin America Ltd. Class A | 795,778 | 7,647 | |||
* | Liberty Broadband Corp. Class A | 139,903 | 7,639 | |||
* | Ibotta Inc. Class A | 97,591 | 7,335 | |||
* | Altice USA Inc. Class A | 3,579,487 | 7,302 | |||
* | EverQuote Inc. Class A | 329,572 | 6,875 | |||
*,1 | Rumble Inc. | 1,223,917 | 6,793 | |||
* | National CineMedia Inc. | 1,506,167 | 6,612 | |||
* | Nextdoor Holdings Inc. | 2,356,869 | 6,552 | |||
Gray Television Inc. | 1,257,826 | 6,541 | ||||
* | Cardlytics Inc. | 792,406 | 6,506 | |||
* | Eventbrite Inc. Class A | 1,337,989 | 6,476 | |||
* | fuboTV Inc. | 4,611,395 | 5,718 | |||
* | Bandwidth Inc. Class A | 326,646 | 5,514 | |||
* | Vivid Seats Inc. Class A | 947,649 | 5,449 | |||
* | MediaAlpha Inc. Class A | 413,160 | 5,441 | |||
* | Consolidated Communications Holdings Inc. | 1,202,379 | 5,290 | |||
*,1 | Advantage Solutions Inc. | 1,547,430 | 4,983 | |||
Spok Holdings Inc. | 318,385 | 4,715 | ||||
*,1 | AMC Networks Inc. Class A | 470,197 | 4,542 | |||
* | Boston Omaha Corp. Class A | 335,432 | 4,515 | |||
Marcus Corp. | 393,779 | 4,477 | ||||
* | WideOpenWest Inc. | 773,783 | 4,186 | |||
ATN International Inc. | 179,766 | 4,099 | ||||
*,1 | Grindr Inc. | 301,854 | 3,695 | |||
* | Reservoir Media Inc. | 463,388 | 3,661 | |||
* | TrueCar Inc. | 1,100,996 | 3,446 | |||
* | EW Scripps Co. Class A | 934,720 | 2,935 | |||
* | Playstudios Inc. | 1,348,026 | 2,790 | |||
* | Angi Inc. Class A | 1,238,924 | 2,379 | |||
* | Outbrain Inc. | 475,801 | 2,369 | |||
* | Innovid Corp. | 1,237,409 | 2,289 | |||
*,1 | Mediaco Holding Inc. Class A | 567,002 | 2,041 | |||
*,1 | Getty Images Holdings Inc. | 611,978 | 1,995 | |||
Townsquare Media Inc. Class A | 179,639 | 1,969 | ||||
* | Emerald Holding Inc. | 331,961 | 1,889 | |||
* | LiveOne Inc. | 1,130,575 | 1,775 | |||
* | iHeartMedia Inc. Class A | 1,617,525 | 1,763 | |||
Entravision Communications Corp. Class A | 853,836 | 1,733 | ||||
*,1 | Skillz Inc. Class A | 202,677 | 1,455 | |||
* | DHI Group Inc. | 571,362 | 1,194 | |||
Saga Communications Inc. Class A | 69,605 | 1,096 | ||||
* | Gaia Inc. Class A | 194,494 | 858 | |||
*,1 | Golden Matrix Group Inc. | 337,201 | 833 | |||
* | Harte Hanks Inc. | 101,383 | 823 | |||
* | Travelzoo | 106,066 | 805 | |||
* | Lee Enterprises Inc. | 69,387 | 771 | |||
*,1 | PSQ Holdings Inc. | 199,860 | 753 | |||
* | comScore Inc. | 49,239 | 699 | |||
*,1,2 | NII Holdings Inc. | 1,297,367 | 649 | |||
* | Marchex Inc. Class B | 400,912 | 617 | |||
* | Zedge Inc. Class B | 160,996 | 491 | |||
*,1 | SurgePays Inc. | 147,196 | 470 | |||
* | Cumulus Media Inc. Class A | 227,161 | 463 | |||
* | IZEA Worldwide Inc. | 196,466 | 462 | |||
*,1 | Kartoon Studios Inc. | 445,651 | 459 | |||
CuriosityStream Inc. | 392,619 | 448 | ||||
*,1 | System1 Inc. | 292,042 | 444 | |||
*,1 | Urban One Inc. Class A | 221,694 | 441 |
Shares | Market Value• ($000) | |||||
* | Webtoon Entertainment Inc. | 19,276 | 440 | |||
* | Paltalk Inc. | 99,785 | 401 | |||
* | Fluent Inc. | 106,592 | 385 | |||
* | Reading International Inc. Class A | 253,566 | 360 | |||
*,1 | BuzzFeed Inc. Class A | 127,935 | 353 | |||
* | Creative Realities Inc. | 65,006 | 305 | |||
* | SPAR Group Inc. | 120,632 | 291 | |||
* | KORE Group Holdings Inc. | 438,162 | 186 | |||
*,1 | Direct Digital Holdings Inc. Class A | 45,658 | 184 | |||
*,1 | Arena Group Holdings Inc. | 201,260 | 155 | |||
DallasNews Corp. | 40,189 | 144 | ||||
* | Lendway Inc. | 26,670 | 127 | |||
*,1 | Stran & Co. Inc. | 106,525 | 119 | |||
* | Dolphin Entertainment Inc. | 90,154 | 85 | |||
*,1 | Cineverse Corp. Class A | 94,400 | 84 | |||
* | PodcastOne Inc. | 45,954 | 77 | |||
*,1 | Hwh International Inc. | 52,085 | 53 | |||
* | Beasley Broadcast Group Inc. Class A | 66,912 | 44 | |||
*,1 | Loop Media Inc. | 420,454 | 42 | |||
*,1 | Leafly Holdings Inc. | 18,287 | 37 | |||
* | Chicken Soup For The Soul Entertainment Inc. Class A | 158,744 | 31 | |||
*,1 | Collective Audience Inc. | 57,900 | 31 | |||
*,1 | NextPlat Corp. | 26,703 | 29 | |||
*,1 | Motorsport Games Inc. Class A | 10,638 | 26 | |||
* | Reading International Inc. Class B | 1,889 | 25 | |||
* | Urban One Inc. | 14,550 | 22 | |||
*,1 | Super League Enterprise Inc. | 20,785 | 17 | |||
* | Snail Inc. Class A | 11,787 | 10 | |||
*,1 | Society Pass Inc. | 6,415 | 9 | |||
* | Asset Entities Inc. Class B | 9,300 | 4 | |||
*,1 | Moving Image Technologies Inc. | 3,471 | 2 | |||
* | Grom Social Enterprises Inc. | 177 | — | |||
*,1 | Treasure Global Inc. | 174 | — | |||
4,089,250 | ||||||
Consumer Discretionary (11.2%) | ||||||
* | DoorDash Inc. Class A | 4,742,668 | 515,907 | |||
* | DraftKings Inc. Class A | 7,222,593 | 275,686 | |||
1 | Williams-Sonoma Inc. | 973,671 | 274,935 | |||
* | Burlington Stores Inc. | 968,342 | 232,402 | |||
* | Carvana Co. Class A | 1,595,744 | 205,404 | |||
Dick's Sporting Goods Inc. | 883,327 | 189,783 | ||||
Wingstop Inc. | 444,780 | 187,991 | ||||
* | TopBuild Corp. | 479,384 | 184,692 | |||
Toll Brothers Inc. | 1,574,705 | 181,375 | ||||
Texas Roadhouse Inc. Class A | 1,011,435 | 173,674 | ||||
* | Floor & Decor Holdings Inc. Class A | 1,623,684 | 161,410 | |||
Service Corp. International | 2,203,276 | 156,719 | ||||
*,1 | Rivian Automotive Inc. Class A | 10,675,016 | 143,259 | |||
* | Light & Wonder Inc. | 1,364,505 | 143,109 | |||
Churchill Downs Inc. | 1,012,110 | 141,291 | ||||
* | Skechers USA Inc. Class A | 2,004,193 | 138,530 | |||
* | Abercrombie & Fitch Co. Class A | 774,103 | 137,666 | |||
Aramark | 3,979,013 | 135,366 | ||||
Murphy USA Inc. | 286,204 | 134,361 | ||||
* | Crocs Inc. | 920,009 | 134,266 | |||
Tempur Sealy International Inc. | 2,631,335 | 124,567 | ||||
Gentex Corp. | 3,501,724 | 118,043 | ||||
* | Duolingo Inc. Class A | 562,237 | 117,322 | |||
Autoliv Inc. | 1,096,364 | 117,300 | ||||
H&R Block Inc. | 2,115,502 | 114,724 | ||||
Lithia Motors Inc. Class A | 415,195 | 104,816 | ||||
Hyatt Hotels Corp. Class A | 682,488 | 103,684 | ||||
Vail Resorts Inc. | 574,547 | 103,493 | ||||
*,1 | GameStop Corp. Class A | 4,088,783 | 100,952 | |||
Lear Corp. | 856,390 | 97,808 | ||||
* | Planet Fitness Inc. Class A | 1,324,871 | 97,497 | |||
* | Bright Horizons Family Solutions Inc. | 877,348 | 96,578 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 933,728 | 91,664 | |||
* | Five Below Inc. | 840,083 | 91,544 |
Shares | Market Value• ($000) | |||||
PVH Corp. | 852,215 | 90,224 | ||||
Wyndham Hotels & Resorts Inc. | 1,216,143 | 89,995 | ||||
Meritage Homes Corp. | 548,854 | 88,832 | ||||
* | Taylor Morrison Home Corp. Class A | 1,591,669 | 88,242 | |||
* | Mattel Inc. | 5,241,789 | 85,232 | |||
* | Valvoline Inc. | 1,958,289 | 84,598 | |||
Whirlpool Corp. | 827,097 | 84,529 | ||||
Macy's Inc. | 4,169,261 | 80,050 | ||||
* | Modine Manufacturing Co. | 792,513 | 79,402 | |||
Gap Inc. | 3,278,950 | 78,334 | ||||
KB Home | 1,104,983 | 77,548 | ||||
* | Wayfair Inc. Class A | 1,457,936 | 76,877 | |||
Thor Industries Inc. | 808,999 | 75,601 | ||||
Brunswick Corp. | 1,026,861 | 74,725 | ||||
Installed Building Products Inc. | 355,909 | 73,203 | ||||
* | Asbury Automotive Group Inc. | 305,329 | 69,575 | |||
VF Corp. | 5,020,000 | 67,770 | ||||
Polaris Inc. | 801,918 | 62,798 | ||||
Harley-Davidson Inc. | 1,861,316 | 62,429 | ||||
* | Grand Canyon Education Inc. | 440,887 | 61,685 | |||
Signet Jewelers Ltd. | 673,436 | 60,326 | ||||
Academy Sports & Outdoors Inc. | 1,119,915 | 59,635 | ||||
* | AutoNation Inc. | 371,567 | 59,220 | |||
Group 1 Automotive Inc. | 199,122 | 59,195 | ||||
* | Boot Barn Holdings Inc. | 456,549 | 58,863 | |||
* | Capri Holdings Ltd. | 1,756,768 | 58,114 | |||
Advance Auto Parts Inc. | 914,899 | 57,941 | ||||
* | RH | 231,389 | 56,561 | |||
American Eagle Outfitters Inc. | 2,803,833 | 55,965 | ||||
Boyd Gaming Corp. | 1,008,503 | 55,569 | ||||
* | Skyline Champion Corp. | 812,860 | 55,071 | |||
* | Dutch Bros Inc. Class A | 1,297,834 | 53,730 | |||
* | Tri Pointe Homes Inc. | 1,420,847 | 52,927 | |||
* | M/I Homes Inc. | 417,725 | 51,021 | |||
* | Shake Shack Inc. Class A | 562,335 | 50,610 | |||
Kontoor Brands Inc. | 749,352 | 49,570 | ||||
* | YETI Holdings Inc. | 1,296,339 | 49,455 | |||
* | Goodyear Tire & Rubber Co. | 4,259,556 | 48,346 | |||
* | Brinker International Inc. | 666,576 | 48,253 | |||
* | Chewy Inc. Class A | 1,758,332 | 47,897 | |||
Travel + Leisure Co. | 1,064,679 | 47,889 | ||||
*,1 | Penn Entertainment Inc. | 2,308,731 | 44,686 | |||
* | Visteon Corp. | 415,695 | 44,355 | |||
Steven Madden Ltd. | 1,031,681 | 43,640 | ||||
Penske Automotive Group Inc. | 291,421 | 43,428 | ||||
* | Stride Inc. | 615,495 | 43,392 | |||
Marriott Vacations Worldwide Corp. | 493,023 | 43,051 | ||||
* | Sweetgreen Inc. Class A | 1,417,440 | 42,722 | |||
1 | Choice Hotels International Inc. | 358,464 | 42,657 | |||
Wendy's Co. | 2,488,028 | 42,197 | ||||
* | Hilton Grand Vacations Inc. | 1,031,662 | 41,710 | |||
Red Rock Resorts Inc. Class A | 755,661 | 41,508 | ||||
LCI Industries | 391,993 | 40,524 | ||||
Columbia Sportswear Co. | 507,975 | 40,171 | ||||
* | Cavco Industries Inc. | 115,357 | 39,933 | |||
Kohl's Corp. | 1,709,218 | 39,295 | ||||
* | Frontdoor Inc. | 1,161,124 | 39,234 | |||
* | Adtalem Global Education Inc. | 568,213 | 38,758 | |||
* | Dorman Products Inc. | 423,107 | 38,706 | |||
Strategic Education Inc. | 338,138 | 37,418 | ||||
* | Six Flags Entertainment Corp. | 1,116,642 | 37,006 | |||
Newell Brands Inc. | 5,711,705 | 36,612 | ||||
Graham Holdings Co. Class B | 51,606 | 36,101 | ||||
Century Communities Inc. | 435,109 | 35,531 | ||||
Patrick Industries Inc. | 320,079 | 34,745 | ||||
* | Urban Outfitters Inc. | 845,802 | 34,720 | |||
* | Vista Outdoor Inc. | 902,210 | 33,968 | |||
Carter's Inc. | 541,904 | 33,582 | ||||
*,1 | Mobileye Global Inc. Class A | 1,189,587 | 33,410 | |||
* | Adient plc | 1,349,725 | 33,352 |
Shares | Market Value• ($000) | |||||
* | Helen of Troy Ltd. | 355,210 | 32,942 | |||
* | Topgolf Callaway Brands Corp. | 2,100,885 | 32,144 | |||
Nordstrom Inc. | 1,507,668 | 31,993 | ||||
ADT Inc. | 4,179,644 | 31,765 | ||||
Foot Locker Inc. | 1,266,630 | 31,564 | ||||
*,1 | Lucid Group Inc. | 12,068,256 | 31,498 | |||
Levi Strauss & Co. Class A | 1,592,673 | 30,707 | ||||
* | Fox Factory Holding Corp. | 625,525 | 30,144 | |||
Laureate Education Inc. | 1,990,310 | 29,735 | ||||
Cheesecake Factory Inc. | 721,835 | 28,361 | ||||
* | United Parks & Resorts Inc. | 522,151 | 28,358 | |||
* | LGI Homes Inc. | 315,736 | 28,255 | |||
Acushnet Holdings Corp. | 439,602 | 27,906 | ||||
Phinia Inc. | 687,925 | 27,077 | ||||
* | Sonos Inc. | 1,824,399 | 26,928 | |||
* | Hanesbrands Inc. | 5,453,733 | 26,887 | |||
*,1 | QuantumScape Corp. Class A | 5,406,206 | 26,599 | |||
Bloomin' Brands Inc. | 1,341,990 | 25,806 | ||||
* | Under Armour Inc. Class C | 3,906,345 | 25,508 | |||
Winnebago Industries Inc. | 450,407 | 24,412 | ||||
Dana Inc. | 1,982,727 | 24,031 | ||||
* | Gentherm Inc. | 481,546 | 23,750 | |||
Papa John's International Inc. | 504,349 | 23,694 | ||||
La-Z-Boy Inc. | 635,085 | 23,676 | ||||
Leggett & Platt Inc. | 2,065,654 | 23,672 | ||||
1 | Dillard's Inc. Class A | 53,442 | 23,535 | |||
Oxford Industries Inc. | 227,792 | 22,813 | ||||
Worthington Enterprises Inc. | 473,465 | 22,409 | ||||
* | Green Brick Partners Inc. | 389,485 | 22,294 | |||
Perdoceo Education Corp. | 1,017,597 | 21,797 | ||||
* | Victoria's Secret & Co. | 1,203,582 | 21,267 | |||
* | Cava Group Inc. | 228,555 | 21,198 | |||
Upbound Group Inc. | 688,673 | 21,142 | ||||
* | OneSpaWorld Holdings Ltd. | 1,371,032 | 21,073 | |||
* | Dave & Buster's Entertainment Inc. | 496,574 | 19,769 | |||
* | ODP Corp. | 479,324 | 18,823 | |||
* | Warby Parker Inc. Class A | 1,171,259 | 18,810 | |||
* | Peloton Interactive Inc. Class A | 5,409,631 | 18,285 | |||
* | Sally Beauty Holdings Inc. | 1,630,448 | 17,495 | |||
* | Garrett Motion Inc. | 2,010,614 | 17,271 | |||
* | Life Time Group Holdings Inc. | 912,586 | 17,184 | |||
Wolverine World Wide Inc. | 1,264,125 | 17,091 | ||||
* | G-III Apparel Group Ltd. | 625,625 | 16,936 | |||
Buckle Inc. | 457,044 | 16,883 | ||||
* | Vizio Holding Corp. Class A | 1,561,365 | 16,863 | |||
Caleres Inc. | 480,930 | 16,159 | ||||
* | National Vision Holdings Inc. | 1,216,681 | 15,926 | |||
* | Sabre Corp. | 5,924,934 | 15,820 | |||
Hibbett Inc. | 180,806 | 15,768 | ||||
Winmark Corp. | 44,378 | 15,649 | ||||
Jack in the Box Inc. | 300,985 | 15,332 | ||||
1 | Cracker Barrel Old Country Store Inc. | 343,726 | 14,492 | |||
Krispy Kreme Inc. | 1,308,774 | 14,082 | ||||
Monarch Casino & Resort Inc. | 205,096 | 13,973 | ||||
* | American Axle & Manufacturing Holdings Inc. | 1,821,584 | 12,733 | |||
Sonic Automotive Inc. Class A | 230,890 | 12,577 | ||||
* | Playa Hotels & Resorts NV | 1,484,375 | 12,454 | |||
* | BJ's Restaurants Inc. | 357,503 | 12,405 | |||
* | Beazer Homes USA Inc. | 440,168 | 12,096 | |||
* | Leslie's Inc. | 2,870,341 | 12,027 | |||
* | Under Armour Inc. Class A | 1,785,939 | 11,912 | |||
* | Udemy Inc. | 1,374,709 | 11,864 | |||
* | Coursera Inc. | 1,650,213 | 11,816 | |||
* | XPEL Inc. | 330,897 | 11,767 | |||
Camping World Holdings Inc. Class A | 652,464 | 11,653 | ||||
* | Everi Holdings Inc. | 1,353,737 | 11,371 | |||
* | Malibu Boats Inc. Class A | 323,694 | 11,342 | |||
* | Rush Street Interactive Inc. | 1,170,011 | 11,220 | |||
Monro Inc. | 463,458 | 11,058 | ||||
Arhaus Inc. Class A | 640,963 | 10,858 |
Shares | Market Value• ($000) | |||||
* | Hovnanian Enterprises Inc. Class A | 75,005 | 10,645 | |||
Sturm Ruger & Co. Inc. | 253,339 | 10,552 | ||||
Golden Entertainment Inc. | 331,190 | 10,303 | ||||
* | Figs Inc. Class A | 1,932,896 | 10,302 | |||
* | MarineMax Inc. | 313,459 | 10,147 | |||
Ethan Allen Interiors Inc. | 360,391 | 10,051 | ||||
* | Mister Car Wash Inc. | 1,405,435 | 10,007 | |||
* | Universal Technical Institute Inc. | 611,505 | 9,619 | |||
Smith & Wesson Brands Inc. | 663,784 | 9,519 | ||||
Shoe Carnival Inc. | 250,409 | 9,238 | ||||
* | Beyond Inc. | 702,470 | 9,188 | |||
* | Dream Finders Homes Inc. Class A | 354,762 | 9,160 | |||
Dine Brands Global Inc. | 247,497 | 8,959 | ||||
* | Accel Entertainment Inc. Class A | 867,974 | 8,905 | |||
* | Revolve Group Inc. Class A | 543,038 | 8,640 | |||
1 | Guess? Inc. | 421,729 | 8,603 | |||
1 | Bowlero Corp. Class A | 586,490 | 8,498 | |||
Standard Motor Products Inc. | 299,506 | 8,305 | ||||
* | Stoneridge Inc. | 472,036 | 7,534 | |||
* | Portillo's Inc. Class A | 747,801 | 7,269 | |||
* | Chuy's Holdings Inc. | 271,646 | 7,041 | |||
* | PlayAGS Inc. | 603,175 | 6,937 | |||
* | First Watch Restaurant Group Inc. | 383,410 | 6,733 | |||
*,1 | Luminar Technologies Inc. Class A | 4,366,469 | 6,506 | |||
* | Stitch Fix Inc. Class A | 1,479,168 | 6,139 | |||
Arko Corp. | 970,299 | 6,084 | ||||
RCI Hospitality Holdings Inc. | 139,370 | 6,071 | ||||
*,1 | Groupon Inc. Class A | 390,522 | 5,975 | |||
Movado Group Inc. | 240,211 | 5,972 | ||||
* | Denny's Corp. | 820,538 | 5,826 | |||
* | America's Car-Mart Inc. | 95,167 | 5,730 | |||
Haverty Furniture Cos. Inc. | 225,413 | 5,701 | ||||
* | Xponential Fitness Inc. Class A | 363,257 | 5,667 | |||
* | Lindblad Expeditions Holdings Inc. | 581,811 | 5,614 | |||
* | European Wax Center Inc. Class A | 565,194 | 5,612 | |||
* | Bally's Corp. | 458,800 | 5,492 | |||
* | Kura Sushi USA Inc. Class A | 86,763 | 5,474 | |||
Carriage Services Inc. Class A | 203,273 | 5,456 | ||||
* | Lovesac Co. | 237,762 | 5,369 | |||
* | Funko Inc. Class A | 544,298 | 5,312 | |||
* | American Public Education Inc. | 295,284 | 5,191 | |||
* | Zumiez Inc. | 263,405 | 5,131 | |||
* | Chegg Inc. | 1,607,387 | 5,079 | |||
Build-A-Bear Workshop Inc. | 196,906 | 4,976 | ||||
*,1 | Global Business Travel Group I | 753,364 | 4,972 | |||
* | El Pollo Loco Holdings Inc. | 436,875 | 4,941 | |||
* | Petco Health & Wellness Co. Inc. Class A | 1,307,250 | 4,941 | |||
* | OneWater Marine Inc. Class A | 178,495 | 4,921 | |||
Aaron's Co. Inc. | 489,510 | 4,885 | ||||
* | Lincoln Educational Services Corp. | 395,329 | 4,689 | |||
* | MasterCraft Boat Holdings Inc. | 245,342 | 4,632 | |||
Designer Brands Inc. Class A | 675,818 | 4,616 | ||||
*,1 | Cricut Inc. Class A | 765,228 | 4,584 | |||
*,1 | RealReal Inc. | 1,426,567 | 4,551 | |||
*,1 | Savers Value Village Inc. | 358,247 | 4,385 | |||
* | Genesco Inc. | 165,718 | 4,285 | |||
* | 1-800-Flowers.com Inc. Class A | 422,182 | 4,019 | |||
*,1 | iRobot Corp. | 436,482 | 3,976 | |||
Johnson Outdoors Inc. Class A | 109,852 | 3,843 | ||||
Rocky Brands Inc. | 103,347 | 3,820 | ||||
* | Target Hospitality Corp. | 422,050 | 3,676 | |||
*,1 | EVgo Inc. Class A | 1,496,196 | 3,666 | |||
* | Inspired Entertainment Inc. | 390,783 | 3,576 | |||
* | Smith Douglas Homes Corp. Class A | 140,160 | 3,277 | |||
* | Qurate Retail Inc. Class A | 5,168,848 | 3,256 | |||
*,1 | Soho House & Co. Inc. Class A | 606,096 | 3,218 | |||
* | Cooper-Standard Holdings Inc. | 253,931 | 3,159 | |||
* | Sleep Number Corp. | 324,309 | 3,104 | |||
*,1 | Solid Power Inc. | 1,845,881 | 3,046 | |||
* | GoPro Inc. Class A | 2,138,367 | 3,036 |
Shares | Market Value• ($000) | |||||
* | Tile Shop Holdings Inc. | 430,452 | 2,983 | |||
* | Potbelly Corp. | 360,656 | 2,896 | |||
* | Destination XL Group Inc. | 784,133 | 2,854 | |||
Superior Group of Cos. Inc. | 146,415 | 2,769 | ||||
*,1 | BARK Inc. | 1,511,333 | 2,736 | |||
Lakeland Industries Inc. | 119,183 | 2,734 | ||||
Clarus Corp. | 405,613 | 2,730 | ||||
Nathan's Famous Inc. | 40,172 | 2,723 | ||||
Weyco Group Inc. | 89,155 | 2,703 | ||||
* | Holley Inc. | 744,597 | 2,666 | |||
*,1 | Citi Trends Inc. | 125,362 | 2,665 | |||
* | Biglari Holdings Inc. Class B | 13,499 | 2,610 | |||
J. Jill Inc. | 71,057 | 2,485 | ||||
Hooker Furnishings Corp. | 168,196 | 2,435 | ||||
* | Legacy Housing Corp. | 105,382 | 2,417 | |||
* | Lands' End Inc. | 174,736 | 2,375 | |||
* | Traeger Inc. | 983,332 | 2,360 | |||
* | Full House Resorts Inc. | 464,696 | 2,323 | |||
* | Vera Bradley Inc. | 363,887 | 2,278 | |||
* | AMMO Inc. | 1,303,598 | 2,190 | |||
* | Universal Electronics Inc. | 180,911 | 2,102 | |||
* | Tilly's Inc. Class A | 332,060 | 2,002 | |||
* | GrowGeneration Corp. | 917,476 | 1,973 | |||
* | JAKKS Pacific Inc. | 108,924 | 1,951 | |||
* | ThredUp Inc. Class A | 1,123,178 | 1,909 | |||
Hamilton Beach Brands Holding Co. Class A | 108,742 | 1,869 | ||||
*,1 | Canoo Inc. | 854,517 | 1,820 | |||
*,1 | Red Robin Gourmet Burgers Inc. | 236,833 | 1,793 | |||
* | American Outdoor Brands Inc. | 197,675 | 1,779 | |||
Bassett Furniture Industries Inc. | 124,057 | 1,763 | ||||
Escalade Inc. | 127,326 | 1,756 | ||||
* | Latham Group Inc. | 578,638 | 1,753 | |||
*,1 | ContextLogic Inc. Class A | 304,628 | 1,739 | |||
Flexsteel Industries Inc. | 54,815 | 1,703 | ||||
* | Nerdy Inc. | 1,010,205 | 1,687 | |||
* | Motorcar Parts of America Inc. | 273,322 | 1,686 | |||
Marine Products Corp. | 165,436 | 1,671 | ||||
* | Landsea Homes Corp. | 180,960 | 1,663 | |||
* | 1stdibs.com Inc. | 364,824 | 1,638 | |||
*,1 | Children's Place Inc. | 191,068 | 1,555 | |||
* | ONE Group Hospitality Inc. | 350,236 | 1,489 | |||
Cato Corp. Class A | 255,761 | 1,417 | ||||
* | Strattec Security Corp. | 55,293 | 1,382 | |||
*,1 | WW International Inc. | 1,181,338 | 1,382 | |||
Lifetime Brands Inc. | 159,241 | 1,368 | ||||
*,1 | Mondee Holdings Inc. Class A | 562,071 | 1,349 | |||
*,1 | Pinstripes Holdings Inc. | 476,155 | 1,309 | |||
*,1 | Sportsman's Warehouse Holdings Inc. | 542,914 | 1,308 | |||
1 | PetMed Express Inc. | 308,394 | 1,249 | |||
* | Unifi Inc. | 211,835 | 1,248 | |||
*,1 | Torrid Holdings Inc. | 149,601 | 1,121 | |||
* | Duluth Holdings Inc. Class B | 296,363 | 1,094 | |||
* | Century Casinos Inc. | 390,057 | 1,080 | |||
* | Superior Industries International Inc. | 325,372 | 1,057 | |||
Crown Crafts Inc. | 184,550 | 965 | ||||
* | Solo Brands Inc. Class A | 417,333 | 952 | |||
1 | Big 5 Sporting Goods Corp. | 317,636 | 940 | |||
* | Fossil Group Inc. | 651,683 | 938 | |||
*,1 | Tupperware Brands Corp. | 650,628 | 911 | |||
* | Purple Innovation Inc. Class A | 873,128 | 908 | |||
* | GAN Ltd. | 585,494 | 864 | |||
*,1 | Noodles & Co. Class A | 539,074 | 852 | |||
* | RumbleON Inc. Class B | 198,808 | 815 | |||
* | CarParts.com Inc. | 748,942 | 749 | |||
*,1 | Big Lots Inc. | 400,772 | 693 | |||
*,1 | Allbirds Inc. Class A | 1,381,393 | 691 | |||
* | VOXX International Corp. Class A | 215,211 | 680 | |||
* | Culp Inc. | 147,833 | 662 | |||
*,1 | Rent the Runway Inc. Class A | 35,400 | 622 | |||
*,1 | United Homes Group Inc. | 108,898 | 620 |
Shares | Market Value• ($000) | |||||
*,1 | Barnes & Noble Education Inc. | 96,759 | 619 | |||
* | LL Flooring Holdings Inc. | 426,076 | 609 | |||
*,1 | PLBY Group Inc. | 781,211 | 607 | |||
*,1 | Sonder Holdings Inc. | 126,412 | 585 | |||
*,1 | Regis Corp. | 23,958 | 551 | |||
*,1 | Grove Collaborative Holdings | 307,237 | 544 | |||
* | Biglari Holdings Inc. Class A | 580 | 529 | |||
*,1 | Allurion Technologies Inc. | 505,196 | 504 | |||
Ark Restaurants Corp. | 38,656 | 503 | ||||
Canterbury Park Holding Corp. | 22,434 | 490 | ||||
*,1 | Koss Corp. | 109,767 | 488 | |||
*,1 | Lazydays Holdings Inc. | 180,535 | 459 | |||
* | Live Ventures Inc. | 20,027 | 454 | |||
*,1 | Sypris Solutions Inc. | 191,121 | 367 | |||
* | Envela Corp. | 79,294 | 356 | |||
* | Rave Restaurant Group Inc. | 176,306 | 349 | |||
* | Brilliant Earth Group Inc. Class A | 149,812 | 333 | |||
* | GEN Restaurant Group Inc. Class A | 36,095 | 327 | |||
AMCON Distributing Co. | 2,188 | 309 | ||||
*,1 | Mullen Automotive Inc. | 122,890 | 295 | |||
* | Kirkland's Inc. | 180,002 | 293 | |||
*,1 | Faraday Future Intelligent Electric Inc. Class A | 565,693 | 287 | |||
* | Envirotech Vehicles Inc. | 145,217 | 277 | |||
*,1 | Vacasa Inc. Class A | 56,077 | 273 | |||
* | Beachbody Co. Inc. | 31,614 | 267 | |||
* | Container Store Group Inc. | 488,250 | 264 | |||
* | Lulu's Fashion Lounge Holdings Inc. | 132,135 | 244 | |||
*,1 | Aterian Inc. | 83,041 | 233 | |||
1 | Flanigan's Enterprises Inc. | 8,550 | 230 | |||
* | Conn's Inc. | 197,329 | 218 | |||
*,1 | Workhorse Group Inc. | 130,849 | 205 | |||
*,1 | Vroom Inc. | 21,937 | 204 | |||
*,1 | 2U Inc. | 38,475 | 197 | |||
FAT Brands Inc. Class A | 36,041 | 185 | ||||
* | Good Times Restaurants Inc. | 66,456 | 168 | |||
* | Nephros Inc. | 72,338 | 153 | |||
* | Yunhong Green CTI Ltd. | 121,102 | 151 | |||
* | Wag! Group Co. | 88,471 | 142 | |||
*,1 | Amesite Inc. | 43,962 | 135 | |||
*,1 | XWELL Inc. | 74,690 | 134 | |||
*,1 | Hall of Fame Resort & Entertainment Co. | 43,744 | 126 | |||
* | Dixie Group Inc. | 188,725 | 124 | |||
* | Educational Development Corp. | 64,779 | 122 | |||
Jerash Holdings US Inc. | 38,405 | 117 | ||||
*,1 | Worksport Ltd. | 145,891 | 114 | |||
*,1 | aka Brands Holding Corp. | 6,085 | 93 | |||
* | Tandy Leather Factory Inc. | 17,314 | 78 | |||
* | Allied Gaming & Entertainment Inc. | 61,060 | 78 | |||
* | Charles & Colvard Ltd. | 44,411 | 76 | |||
* | Inspirato Inc. | 19,707 | 69 | |||
* | Xcel Brands Inc. | 113,190 | 67 | |||
* | Vince Holding Corp. | 45,481 | 63 | |||
* | Delta Apparel Inc. | 85,609 | 50 | |||
*,1 | Forward Industries Inc. | 10,127 | 48 | |||
*,1 | BurgerFi International Inc. | 167,859 | 34 | |||
*,1 | AYRO Inc. | 44,007 | 34 | |||
* | Twin Vee PowerCats Co. | 60,192 | 33 | |||
*,1 | Emerson Radio Corp. | 47,444 | 28 | |||
*,1 | MGO Global Inc. | 38,582 | 22 | |||
*,1 | Toughbuilt Industries Inc. | 2,844 | 15 | |||
*,1 | Forza X1 Inc. | 33,785 | 14 | |||
*,1 | Nova Lifestyle Inc. | 8,036 | 13 | |||
*,1 | Serve Robotics Inc. | 6,151 | 12 | |||
FAT Brands Inc. Class B | 2,238 | 11 | ||||
*,1 | Kaival Brands Innovations Group Inc. | 7,394 | 11 | |||
*,1 | Digital Brands Group Inc. | 3,261 | 5 | |||
*,1 | Greenlane Holdings Inc. Class A | 10,695 | 4 | |||
*,1 | Lottery.com Inc. | 4,115 | 4 | |||
*,1 | Nxu Inc. Class A | 8,128 | 3 | |||
* | BT Brands Inc. | 1,151 | 2 |
Shares | Market Value• ($000) | |||||
* | Singing Machine Co. Inc. | 445 | 1 | |||
* | ECD Automotive Design Inc. | 968 | 1 | |||
*,2 | Amergent Hospitality Group Inc. | 19,975 | — | |||
*,2 | GCI Liberty Inc. | 1,322,036 | — | |||
*,1,2 | Empire Resorts Inc. | 15,517 | — | |||
* | Phoenix Motor Inc. | 91 | — | |||
11,131,816 | ||||||
Consumer Staples (3.0%) | ||||||
Casey's General Stores Inc. | 561,849 | 214,379 | ||||
* | US Foods Holding Corp. | 3,427,218 | 181,574 | |||
* | BJ's Wholesale Club Holdings Inc. | 2,022,099 | 177,621 | |||
* | elf Beauty Inc. | 842,655 | 177,564 | |||
* | Performance Food Group Co. | 2,356,060 | 155,759 | |||
*,1 | Celsius Holdings Inc. | 2,262,213 | 129,150 | |||
* | Sprouts Farmers Market Inc. | 1,525,173 | 127,596 | |||
Albertsons Cos. Inc. Class A | 6,099,261 | 120,460 | ||||
Ingredion Inc. | 990,014 | 113,555 | ||||
* | BellRing Brands Inc. | 1,977,905 | 113,017 | |||
* | Freshpet Inc. | 733,827 | 94,950 | |||
* | Darling Ingredients Inc. | 2,423,751 | 89,073 | |||
* | Post Holdings Inc. | 761,603 | 79,329 | |||
Coca-Cola Consolidated Inc. | 71,054 | 77,094 | ||||
Flowers Foods Inc. | 2,909,541 | 64,592 | ||||
Lancaster Colony Corp. | 307,266 | 58,064 | ||||
* | Coty Inc. Class A | 5,572,297 | 55,834 | |||
* | Simply Good Foods Co. | 1,370,347 | 49,511 | |||
WD-40 Co. | 202,294 | 44,432 | ||||
* | Boston Beer Co. Inc. Class A | 138,666 | 42,300 | |||
Cal-Maine Foods Inc. | 626,887 | 38,309 | ||||
Spectrum Brands Holdings Inc. | 444,828 | 38,224 | ||||
J & J Snack Foods Corp. | 230,665 | 37,453 | ||||
* | Grocery Outlet Holding Corp. | 1,539,661 | 34,057 | |||
Inter Parfums Inc. | 265,552 | 30,812 | ||||
PriceSmart Inc. | 373,062 | 30,293 | ||||
Energizer Holdings Inc. | 1,023,691 | 30,240 | ||||
Edgewell Personal Care Co. | 735,434 | 29,557 | ||||
* | TreeHouse Foods Inc. | 735,855 | 26,962 | |||
Andersons Inc. | 489,396 | 24,274 | ||||
* | Pilgrim's Pride Corp. | 627,108 | 24,137 | |||
Reynolds Consumer Products Inc. | 812,310 | 22,728 | ||||
* | Central Garden & Pet Co. Class A | 672,140 | 22,201 | |||
Vector Group Ltd. | 2,068,023 | 21,859 | ||||
* | Chefs' Warehouse Inc. | 548,220 | 21,441 | |||
* | Vital Farms Inc. | 429,282 | 20,078 | |||
MGP Ingredients Inc. | 242,875 | 18,070 | ||||
Utz Brands Inc. | 1,059,405 | 17,629 | ||||
National Beverage Corp. | 339,019 | 17,371 | ||||
Universal Corp. | 356,799 | 17,194 | ||||
WK Kellogg Co. | 1,031,165 | 16,973 | ||||
Weis Markets Inc. | 260,013 | 16,321 | ||||
* | Herbalife Ltd. | 1,543,050 | 16,032 | |||
Ingles Markets Inc. Class A | 227,387 | 15,601 | ||||
John B Sanfilippo & Son Inc. | 140,385 | 13,641 | ||||
* | Vita Coco Co. Inc. | 473,284 | 13,181 | |||
* | United Natural Foods Inc. | 922,294 | 12,082 | |||
Seaboard Corp. | 3,768 | 11,910 | ||||
Fresh Del Monte Produce Inc. | 519,982 | 11,362 | ||||
* | Central Garden & Pet Co. | 291,478 | 11,222 | |||
SpartanNash Co. | 540,928 | 10,148 | ||||
B&G Foods Inc. | 1,221,442 | 9,869 | ||||
* | Hain Celestial Group Inc. | 1,407,053 | 9,723 | |||
Turning Point Brands Inc. | 289,854 | 9,301 | ||||
Nu Skin Enterprises Inc. Class A | 786,759 | 8,292 | ||||
Tootsie Roll Industries Inc. | 264,948 | 8,099 | ||||
* | USANA Health Sciences Inc. | 176,354 | 7,978 | |||
* | Mission Produce Inc. | 690,352 | 6,821 | |||
*,1 | Beyond Meat Inc. | 1,007,003 | 6,757 | |||
Calavo Growers Inc. | 294,757 | 6,691 | ||||
Oil-Dri Corp. of America | 79,942 | 5,123 |
Shares | Market Value• ($000) | |||||
Limoneira Co. | 245,425 | 5,107 | ||||
*,1 | Westrock Coffee Co. | 463,648 | 4,743 | |||
* | Duckhorn Portfolio Inc. | 657,999 | 4,672 | |||
* | Seneca Foods Corp. Class A | 81,005 | 4,650 | |||
*,1 | BRC Inc. Class A | 620,053 | 3,801 | |||
Medifast Inc. | 162,005 | 3,535 | ||||
Natural Grocers by Vitamin Cottage Inc. | 145,996 | 3,095 | ||||
* | Honest Co. Inc. | 988,551 | 2,887 | |||
* | Mama's Creations Inc. | 406,641 | 2,741 | |||
* | Nature's Sunshine Products Inc. | 180,589 | 2,721 | |||
* | Olaplex Holdings Inc. | 1,764,449 | 2,717 | |||
Village Super Market Inc. Class A | 102,748 | 2,714 | ||||
* | Whole Earth Brands Inc. | 532,276 | 2,587 | |||
*,1 | Beauty Health Co. | 1,266,061 | 2,431 | |||
*,1 | FitLife Brands Inc. | 53,386 | 1,778 | |||
Alico Inc. | 65,127 | 1,687 | ||||
* | HF Foods Group Inc. | 540,508 | 1,622 | |||
Lifevantage Corp. | 195,613 | 1,256 | ||||
* | Lifeway Foods Inc. | 85,576 | 1,093 | |||
* | Veru Inc. | 1,258,166 | 1,058 | |||
* | Farmer Bros Co. | 295,818 | 793 | |||
Natural Health Trends Corp. | 111,509 | 792 | ||||
* | Laird Superfood Inc. | 102,546 | 576 | |||
*,1 | Safety Shot Inc. | 449,210 | 521 | |||
United-Guardian Inc. | 52,417 | 469 | ||||
* | Natural Alternatives International Inc. | 75,454 | 454 | |||
*,1 | Barfresh Food Group Inc. | 121,362 | 444 | |||
*,1 | Zevia PBC Class A | 618,243 | 417 | |||
* | Coffee Holding Co. Inc. | 164,749 | 386 | |||
* | Seneca Foods Corp. Class B | 5,010 | 293 | |||
* | Willamette Valley Vineyards Inc. | 72,379 | 284 | |||
*,1 | Benson Hill Inc. | 1,779,607 | 271 | |||
* | Reborn Coffee Inc. | 33,056 | 230 | |||
* | Rocky Mountain Chocolate Factory Inc. | 97,457 | 214 | |||
*,1 | Guardion Health Sciences Inc. | 14,852 | 150 | |||
*,1 | Local Bounti Corp. | 53,924 | 150 | |||
* | Sadot Group Inc. | 275,710 | 105 | |||
*,1 | Flora Growth Corp. | 88,780 | 91 | |||
* | Splash Beverage Group Inc. | 301,169 | 69 | |||
* | Vintage Wine Estates Inc. | 431,243 | 60 | |||
* | Bridgford Foods Corp. | 5,858 | 59 | |||
* | Mannatech Inc. | 7,559 | 53 | |||
* | S&W Seed Co. | 140,870 | 51 | |||
*,1 | Arcadia Biosciences Inc. | 14,038 | 44 | |||
* | Real Good Food Co. Inc. Class A | 80,958 | 41 | |||
* | Maison Solutions Inc. Class A | 27,800 | 37 | |||
* | Nocera Inc. | 27,467 | 30 | |||
* | AXIL Brands Inc. | 3,366 | 26 | |||
* | Upexi Inc. | 69,176 | 25 | |||
*,1 | Better Choice Co. Inc. | 5,950 | 23 | |||
*,1 | Stryve Foods Inc. Class A | 6,642 | 12 | |||
*,1 | 22nd Century Group Inc. | 13,096 | 10 | |||
*,1 | Eastside Distilling Inc. | 8,697 | 9 | |||
*,1 | Edible Garden AG Inc. | 1,767 | 2 | |||
* | Hempacco Co. Inc. | 97 | — | |||
* | African Agriculture Holdings Inc. | 893 | — | |||
2,979,956 | ||||||
Energy (4.9%) | ||||||
Cheniere Energy Inc. | 3,463,292 | 605,487 | ||||
1 | Texas Pacific Land Corp. | 282,642 | 207,536 | |||
Ovintiv Inc. | 3,766,814 | 176,551 | ||||
TechnipFMC plc | 6,544,800 | 171,146 | ||||
Chord Energy Corp. | 939,235 | 157,491 | ||||
* | Antero Resources Corp. | 4,435,520 | 144,731 | |||
1 | Chesapeake Energy Corp. | 1,683,386 | 138,357 | |||
* | Weatherford International plc | 1,107,273 | 135,586 | |||
Permian Resources Corp. Class A | 7,765,642 | 125,415 | ||||
Range Resources Corp. | 3,682,001 | 123,457 | ||||
HF Sinclair Corp. | 2,269,121 | 121,035 |
Shares | Market Value• ($000) | |||||
NOV Inc. | 5,979,747 | 113,675 | ||||
* | Southwestern Energy Co. | 16,801,286 | 113,073 | |||
DT Midstream Inc. | 1,473,317 | 104,650 | ||||
Matador Resources Co. | 1,753,732 | 104,522 | ||||
Civitas Resources Inc. | 1,387,694 | 95,751 | ||||
ChampionX Corp. | 2,882,181 | 95,717 | ||||
Murphy Oil Corp. | 2,194,853 | 90,516 | ||||
Equitrans Midstream Corp. | 6,565,782 | 85,224 | ||||
Noble Corp. plc | 1,722,101 | 76,892 | ||||
Antero Midstream Corp. | 5,179,618 | 76,348 | ||||
SM Energy Co. | 1,736,685 | 75,077 | ||||
PBF Energy Inc. Class A | 1,597,704 | 73,526 | ||||
* | Valaris Ltd. | 943,633 | 70,301 | |||
* | Tidewater Inc. | 737,275 | 70,196 | |||
*,1 | Transocean Ltd. | 11,040,182 | 59,065 | |||
* | CNX Resources Corp. | 2,336,594 | 56,779 | |||
Helmerich & Payne Inc. | 1,479,241 | 53,460 | ||||
Viper Energy Inc. Class A | 1,396,500 | 52,411 | ||||
Magnolia Oil & Gas Corp. Class A | 2,054,242 | 52,054 | ||||
Cactus Inc. Class A | 982,609 | 51,823 | ||||
California Resources Corp. | 967,853 | 51,509 | ||||
Northern Oil & Gas Inc. | 1,366,875 | 50,807 | ||||
Patterson-UTI Energy Inc. | 4,676,829 | 48,452 | ||||
Liberty Energy Inc. Class A | 2,273,396 | 47,491 | ||||
Archrock Inc. | 2,051,210 | 41,475 | ||||
* | CONSOL Energy Inc. | 398,458 | 40,655 | |||
* | Kosmos Energy Ltd. | 7,147,514 | 39,597 | |||
* | Oceaneering International Inc. | 1,559,891 | 36,907 | |||
*,1 | Uranium Energy Corp. | 6,103,738 | 36,683 | |||
Peabody Energy Corp. | 1,598,707 | 35,363 | ||||
International Seaways Inc. | 584,182 | 34,543 | ||||
* | Expro Group Holdings NV | 1,410,154 | 32,321 | |||
* | Talos Energy Inc. | 2,390,452 | 29,044 | |||
Sitio Royalties Corp. Class A | 1,202,503 | 28,391 | ||||
* | Helix Energy Solutions Group Inc. | 2,188,157 | 26,127 | |||
* | Diamond Offshore Drilling Inc. | 1,582,840 | 24,518 | |||
World Kinect Corp. | 923,999 | 23,839 | ||||
Delek US Holdings Inc. | 923,265 | 22,860 | ||||
Kinetik Holdings Inc. Class A | 546,552 | 22,649 | ||||
1 | New Fortress Energy Inc. | 1,025,367 | 22,538 | |||
* | Gulfport Energy Corp. | 148,662 | 22,448 | |||
Dorian LPG Ltd. | 529,064 | 22,200 | ||||
* | Par Pacific Holdings Inc. | 801,684 | 20,242 | |||
Crescent Energy Co. Class A | 1,570,366 | 18,609 | ||||
* | US Silica Holdings Inc. | 1,186,732 | 18,335 | |||
Atlas Energy Solutions Inc. Class A | 918,572 | 18,307 | ||||
*,1 | Vital Energy Inc. | 382,099 | 17,126 | |||
* | Green Plains Inc. | 995,325 | 15,786 | |||
Core Laboratories Inc. | 740,204 | 15,019 | ||||
Comstock Resources Inc. | 1,419,478 | 14,734 | ||||
* | Bristow Group Inc. Class A | 379,860 | 12,737 | |||
Select Water Solutions Inc. Class A | 1,145,158 | 12,253 | ||||
CVR Energy Inc. | 449,351 | 12,029 | ||||
* | ProPetro Holding Corp. | 1,330,785 | 11,538 | |||
* | REX American Resources Corp. | 235,854 | 10,753 | |||
* | Dril-Quip Inc. | 561,671 | 10,447 | |||
*,1 | Sable Offshore Corp. | 680,992 | 10,263 | |||
* | NextDecade Corp. | 1,269,100 | 10,077 | |||
* | Nabors Industries Ltd. | 140,299 | 9,984 | |||
* | Newpark Resources Inc. | 1,146,860 | 9,530 | |||
VAALCO Energy Inc. | 1,489,765 | 9,341 | ||||
*,1 | Tellurian Inc. | 13,313,006 | 9,221 | |||
* | SilverBow Resources Inc. | 241,585 | 9,139 | |||
* | Centrus Energy Corp. Class A | 203,025 | 8,679 | |||
Vitesse Energy Inc. | 364,910 | 8,648 | ||||
RPC Inc. | 1,321,763 | 8,261 | ||||
Kodiak Gas Services Inc. | 291,761 | 7,953 | ||||
* | Clean Energy Fuels Corp. | 2,804,875 | 7,489 | |||
Overseas Shipholding Group Inc. Class A | 853,127 | 7,234 | ||||
Berry Corp. | 1,067,993 | 6,899 |
Shares | Market Value• ($000) | |||||
SandRidge Energy Inc. | 516,749 | 6,682 | ||||
* | TETRA Technologies Inc. | 1,856,463 | 6,423 | |||
* | SEACOR Marine Holdings Inc. | 401,743 | 5,419 | |||
Excelerate Energy Inc. Class A | 289,263 | 5,334 | ||||
* | Oil States International Inc. | 1,058,377 | 4,699 | |||
* | DMC Global Inc. | 307,961 | 4,441 | |||
1 | HighPeak Energy Inc. | 287,252 | 4,039 | |||
Solaris Oilfield Infrastructure Inc. Class A | 464,376 | 3,984 | ||||
* | Amplify Energy Corp. | 548,319 | 3,718 | |||
W&T Offshore Inc. | 1,663,759 | 3,560 | ||||
Riley Exploration Permian Inc. | 119,669 | 3,388 | ||||
* | Natural Gas Services Group Inc. | 150,390 | 3,026 | |||
* | Hallador Energy Co. | 379,079 | 2,945 | |||
* | Forum Energy Technologies Inc. | 153,646 | 2,590 | |||
Granite Ridge Resources Inc. | 399,914 | 2,531 | ||||
* | ProFrac Holding Corp. Class A | 323,380 | 2,396 | |||
Evolution Petroleum Corp. | 446,295 | 2,352 | ||||
Ranger Energy Services Inc. Class A | 210,327 | 2,213 | ||||
*,1 | Gevo Inc. | 3,824,818 | 2,131 | |||
FutureFuel Corp. | 393,445 | 2,018 | ||||
NACCO Industries Inc. Class A | 60,429 | 1,672 | ||||
*,1 | Empire Petroleum Corp. | 320,864 | 1,656 | |||
* | Geospace Technologies Corp. | 183,849 | 1,651 | |||
*,1 | Aemetis Inc. | 524,228 | 1,578 | |||
Epsilon Energy Ltd. | 282,496 | 1,540 | ||||
Adams Resources & Energy Inc. | 49,775 | 1,394 | ||||
PHX Minerals Inc. | 398,834 | 1,300 | ||||
* | Smart Sand Inc. | 599,189 | 1,264 | |||
* | Gulf Island Fabrication Inc. | 207,420 | 1,259 | |||
* | OPAL Fuels Inc. Class A | 300,007 | 1,227 | |||
*,1 | Vertex Energy Inc. | 1,257,698 | 1,188 | |||
* | Mammoth Energy Services Inc. | 342,713 | 1,124 | |||
* | Ring Energy Inc. | 642,522 | 1,086 | |||
*,1 | KLX Energy Services Holdings Inc. | 217,845 | 1,078 | |||
Energy Services of America Corp. | 132,368 | 948 | ||||
* | PrimeEnergy Resources Corp. | 7,468 | 794 | |||
* | Profire Energy Inc. | 498,092 | 707 | |||
* | American Resources Corp. | 824,157 | 603 | |||
* | Lightbridge Corp. | 162,218 | 547 | |||
*,1 | Nine Energy Service Inc. | 274,731 | 462 | |||
* | Superior Drilling Products Inc. | 198,912 | 259 | |||
* | Houston American Energy Corp. | 164,070 | 212 | |||
1 | Dawson Geophysical Co. | 106,125 | 207 | |||
* | Independence Contract Drilling Inc. | 152,868 | 199 | |||
Mexco Energy Corp. | 17,490 | 198 | ||||
*,1 | Drilling Tools International Corp. | 34,754 | 195 | |||
Barnwell Industries Inc. | 80,914 | 190 | ||||
* | Comstock Inc. | 1,079,084 | 177 | |||
* | Battalion Oil Corp. | 53,142 | 177 | |||
* | NCS Multistage Holdings Inc. | 10,480 | 176 | |||
* | PEDEVCO Corp. | 185,738 | 168 | |||
* | Verde Clean Fuels Inc. | 29,389 | 122 | |||
*,1 | Camber Energy Inc. | 927,082 | 109 | |||
* | Stabilis Solutions Inc. | 27,744 | 107 | |||
* | US Energy Corp. | 102,771 | 105 | |||
* | ENGlobal Corp. | 37,593 | 50 | |||
* | Clean Energy Technologies Inc. | 37,354 | 49 | |||
* | MIND Technology Inc. | 11,431 | 48 | |||
*,1 | Enservco Corp. | 107,717 | 25 | |||
*,1 | EzFill Holdings Inc. | 6,760 | 13 | |||
*,1 | Vivakor Inc. | 5,448 | 11 | |||
4,848,666 | ||||||
Financials (17.1%) | ||||||
Apollo Global Management Inc. | 6,641,837 | 784,202 | ||||
* | Coinbase Global Inc. Class A | 2,696,560 | 599,257 | |||
* | Block Inc. Class A | 8,434,910 | 543,967 | |||
Ares Management Corp. Class A | 2,636,994 | 351,459 | ||||
LPL Financial Holdings Inc. | 1,133,596 | 316,613 | ||||
* | Markel Group Inc. | 196,622 | 309,809 |
Shares | Market Value• ($000) | |||||
First Citizens BancShares Inc. Class A | 180,536 | 303,952 | ||||
Reinsurance Group of America Inc. | 997,869 | 204,833 | ||||
Interactive Brokers Group Inc. Class A | 1,627,903 | 199,581 | ||||
Fidelity National Financial Inc. | 3,928,304 | 194,137 | ||||
Equitable Holdings Inc. | 4,626,463 | 189,037 | ||||
Tradeweb Markets Inc. Class A | 1,764,405 | 187,027 | ||||
* | Robinhood Markets Inc. Class A | 8,009,262 | 181,890 | |||
RenaissanceRe Holdings Ltd. | 803,054 | 179,491 | ||||
Ally Financial Inc. | 4,128,519 | 163,778 | ||||
* | Toast Inc. Class A | 6,052,035 | 155,961 | |||
East West Bancorp Inc. | 2,106,542 | 154,262 | ||||
Annaly Capital Management Inc. | 7,506,568 | 143,075 | ||||
Unum Group | 2,705,641 | 138,285 | ||||
Erie Indemnity Co. Class A | 379,334 | 137,471 | ||||
Carlyle Group Inc. | 3,270,314 | 131,303 | ||||
First Horizon Corp. | 8,277,973 | 130,544 | ||||
Stifel Financial Corp. | 1,549,049 | 130,352 | ||||
Kinsale Capital Group Inc. | 336,757 | 129,746 | ||||
Jefferies Financial Group Inc. | 2,551,931 | 126,984 | ||||
Primerica Inc. | 523,590 | 123,871 | ||||
American Financial Group Inc. | 992,352 | 122,079 | ||||
Blue Owl Capital Inc. Class A | 6,748,019 | 119,777 | ||||
Old Republic International Corp. | 3,831,338 | 118,388 | ||||
Morningstar Inc. | 396,465 | 117,294 | ||||
Webster Financial Corp. | 2,597,724 | 113,235 | ||||
* | WEX Inc. | 634,250 | 112,351 | |||
Evercore Inc. Class A | 535,981 | 111,715 | ||||
* | Affirm Holdings Inc. Class A | 3,659,094 | 110,541 | |||
Voya Financial Inc. | 1,526,471 | 108,608 | ||||
Houlihan Lokey Inc. Class A | 795,888 | 107,333 | ||||
*,1 | SoFi Technologies Inc. | 16,053,114 | 106,111 | |||
1 | AGNC Investment Corp. | 10,910,868 | 104,090 | |||
Western Alliance Bancorp | 1,648,162 | 103,538 | ||||
Corebridge Financial Inc. | 3,513,191 | 102,304 | ||||
Comerica Inc. | 1,995,419 | 101,846 | ||||
Commerce Bancshares Inc. | 1,799,298 | 100,365 | ||||
Cullen/Frost Bankers Inc. | 979,840 | 99,581 | ||||
SEI Investments Co. | 1,520,758 | 98,378 | ||||
Popular Inc. | 1,098,918 | 97,177 | ||||
Zions Bancorp NA | 2,227,199 | 96,594 | ||||
Pinnacle Financial Partners Inc. | 1,155,887 | 92,517 | ||||
Wintrust Financial Corp. | 933,953 | 92,050 | ||||
Essent Group Ltd. | 1,609,932 | 90,462 | ||||
Ryan Specialty Holdings Inc. Class A | 1,552,261 | 89,891 | ||||
Synovus Financial Corp. | 2,207,378 | 88,715 | ||||
Prosperity Bancshares Inc. | 1,449,909 | 88,647 | ||||
SouthState Corp. | 1,155,253 | 88,284 | ||||
OneMain Holdings Inc. | 1,803,978 | 87,475 | ||||
Selective Insurance Group Inc. | 924,547 | 86,750 | ||||
MGIC Investment Corp. | 4,021,087 | 86,654 | ||||
RLI Corp. | 611,881 | 86,086 | ||||
1 | Starwood Property Trust Inc. | 4,538,962 | 85,968 | |||
First American Financial Corp. | 1,565,288 | 84,447 | ||||
Axis Capital Holdings Ltd. | 1,173,281 | 82,892 | ||||
Old National Bancorp | 4,759,192 | 81,811 | ||||
Rithm Capital Corp. | 7,328,283 | 79,952 | ||||
Lincoln National Corp. | 2,560,702 | 79,638 | ||||
* | Mr Cooper Group Inc. | 977,997 | 79,443 | |||
Cadence Bank | 2,769,008 | 78,308 | ||||
Jackson Financial Inc. Class A | 1,023,338 | 75,993 | ||||
Affiliated Managers Group Inc. | 480,865 | 75,126 | ||||
FNB Corp. | 5,419,174 | 74,134 | ||||
Hamilton Lane Inc. Class A | 586,613 | 72,494 | ||||
Radian Group Inc. | 2,278,976 | 70,876 | ||||
White Mountains Insurance Group Ltd. | 38,221 | 69,465 | ||||
SLM Corp. | 3,333,726 | 69,308 | ||||
*,1 | Shift4 Payments Inc. Class A | 940,479 | 68,984 | |||
* | Euronet Worldwide Inc. | 662,979 | 68,618 | |||
Home BancShares Inc. | 2,837,328 | 67,982 | ||||
Hanover Insurance Group Inc. | 540,481 | 67,798 |
Shares | Market Value• ($000) | |||||
United Bankshares Inc. | 2,039,055 | 66,147 | ||||
Lazard Inc. Class A | 1,704,235 | 65,068 | ||||
Bank OZK | 1,585,951 | 65,024 | ||||
Janus Henderson Group plc | 1,915,035 | 64,556 | ||||
Glacier Bancorp Inc. | 1,716,033 | 64,042 | ||||
Hancock Whitney Corp. | 1,323,485 | 63,302 | ||||
Western Union Co. | 5,103,190 | 62,361 | ||||
Columbia Banking System Inc. | 3,131,662 | 62,289 | ||||
Moelis & Co. Class A | 1,068,898 | 60,778 | ||||
Assured Guaranty Ltd. | 778,060 | 60,027 | ||||
FirstCash Holdings Inc. | 563,927 | 59,145 | ||||
* | Enstar Group Ltd. | 190,714 | 58,301 | |||
First Financial Bankshares Inc. | 1,936,851 | 57,195 | ||||
UMB Financial Corp. | 672,438 | 56,095 | ||||
Kemper Corp. | 910,395 | 54,014 | ||||
Piper Sandler Cos. | 234,464 | 53,967 | ||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 1,722,977 | 51,000 | ||||
Walker & Dunlop Inc. | 514,236 | 50,498 | ||||
Ameris Bancorp | 989,583 | 49,826 | ||||
TPG Inc. Class A | 1,182,148 | 49,000 | ||||
BGC Group Inc. Class A | 5,821,453 | 48,318 | ||||
Associated Banc-Corp | 2,268,455 | 47,978 | ||||
* | Credit Acceptance Corp. | 91,747 | 47,220 | |||
Fulton Financial Corp. | 2,772,453 | 47,076 | ||||
ServisFirst Bancshares Inc. | 735,015 | 46,446 | ||||
United Community Banks Inc. | 1,822,236 | 46,394 | ||||
1 | Blackstone Mortgage Trust Inc. Class A | 2,661,478 | 46,363 | |||
CNO Financial Group Inc. | 1,662,305 | 46,079 | ||||
First Bancorp | 2,501,767 | 45,757 | ||||
International Bancshares Corp. | 798,232 | 45,667 | ||||
Atlantic Union Bankshares Corp. | 1,377,769 | 45,260 | ||||
Valley National Bancorp | 6,352,933 | 44,343 | ||||
Artisan Partners Asset Management Inc. Class A | 1,057,859 | 43,658 | ||||
* | Axos Financial Inc. | 756,224 | 43,218 | |||
* | Texas Capital Bancshares Inc. | 700,336 | 42,819 | |||
WSFS Financial Corp. | 897,582 | 42,186 | ||||
Cathay General Bancorp | 1,117,796 | 42,163 | ||||
PennyMac Financial Services Inc. | 445,700 | 42,163 | ||||
* | Brighthouse Financial Inc. | 952,699 | 41,290 | |||
* | NMI Holdings Inc. Class A | 1,210,448 | 41,204 | |||
First Hawaiian Inc. | 1,960,179 | 40,693 | ||||
1 | Arbor Realty Trust Inc. | 2,814,483 | 40,388 | |||
Federated Hermes Inc. Class B | 1,213,506 | 39,900 | ||||
* | Genworth Financial Inc. Class A | 6,543,101 | 39,520 | |||
New York Community Bancorp Inc. | 11,899,553 | 38,317 | ||||
Community Financial System Inc. | 787,852 | 37,194 | ||||
BOK Financial Corp. | 405,830 | 37,190 | ||||
StepStone Group Inc. Class A | 805,283 | 36,954 | ||||
* | Oscar Health Inc. Class A | 2,330,725 | 36,872 | |||
* | Marqeta Inc. Class A | 6,632,532 | 36,346 | |||
* | Baldwin Insurance Group Inc. Class A | 1,000,407 | 35,484 | |||
PJT Partners Inc. Class A | 328,329 | 35,430 | ||||
First Interstate BancSystem Inc. Class A | 1,270,668 | 35,286 | ||||
CVB Financial Corp. | 2,039,997 | 35,170 | ||||
Bank of Hawaii Corp. | 609,818 | 34,888 | ||||
Bread Financial Holdings Inc. | 762,518 | 33,978 | ||||
Simmons First National Corp. Class A | 1,929,968 | 33,929 | ||||
Pacific Premier Bancorp Inc. | 1,472,488 | 33,823 | ||||
Eastern Bankshares Inc. | 2,416,885 | 33,788 | ||||
BankUnited Inc. | 1,140,599 | 33,385 | ||||
EVERTEC Inc. | 997,672 | 33,173 | ||||
First Financial Bancorp | 1,460,862 | 32,460 | ||||
Independent Bank Corp. | 629,841 | 31,946 | ||||
* | StoneX Group Inc. | 423,067 | 31,861 | |||
* | AvidXchange Holdings Inc. | 2,638,608 | 31,822 | |||
Seacoast Banking Corp. of Florida | 1,294,476 | 30,601 | ||||
Park National Corp. | 213,640 | 30,410 | ||||
Virtu Financial Inc. Class A | 1,343,931 | 30,171 | ||||
* | Palomar Holdings Inc. | 370,777 | 30,089 | |||
WaFd Inc. | 1,048,883 | 29,977 |
Shares | Market Value• ($000) | |||||
* | Bancorp Inc. | 785,016 | 29,642 | |||
First Merchants Corp. | 865,840 | 28,824 | ||||
Provident Financial Services Inc. | 2,004,083 | 28,759 | ||||
Cohen & Steers Inc. | 395,434 | 28,693 | ||||
NBT Bancorp Inc. | 733,679 | 28,320 | ||||
* | NCR Atleos Corp. | 1,046,226 | 28,269 | |||
Trustmark Corp. | 940,065 | 28,240 | ||||
* | Rocket Cos. Inc. Class A | 2,050,871 | 28,097 | |||
Towne Bank | 1,019,239 | 27,795 | ||||
* | Triumph Financial Inc. | 334,108 | 27,313 | |||
OFG Bancorp | 724,367 | 27,128 | ||||
* | Flywire Corp. | 1,644,983 | 26,961 | |||
*,1 | Upstart Holdings Inc. | 1,130,243 | 26,662 | |||
Heartland Financial USA Inc. | 598,959 | 26,624 | ||||
Banc of California Inc. | 2,082,660 | 26,616 | ||||
Nelnet Inc. Class A | 261,975 | 26,423 | ||||
Renasant Corp. | 863,467 | 26,370 | ||||
Stewart Information Services Corp. | 422,107 | 26,204 | ||||
Banner Corp. | 527,710 | 26,196 | ||||
WesBanco Inc. | 919,841 | 25,673 | ||||
* | Remitly Global Inc. | 2,111,649 | 25,593 | |||
Victory Capital Holdings Inc. Class A | 535,685 | 25,568 | ||||
Independent Bank Group Inc. | 554,097 | 25,222 | ||||
* | Enova International Inc. | 402,704 | 25,068 | |||
City Holding Co. | 230,294 | 24,469 | ||||
Lakeland Financial Corp. | 396,408 | 24,387 | ||||
Federal Agricultural Mortgage Corp. Class C | 134,364 | 24,296 | ||||
Enterprise Financial Services Corp. | 581,736 | 23,799 | ||||
National Bank Holdings Corp. Class A | 585,453 | 22,862 | ||||
* | Donnelley Financial Solutions Inc. | 383,090 | 22,840 | |||
PROG Holdings Inc. | 656,288 | 22,760 | ||||
Northwest Bancshares Inc. | 1,955,833 | 22,590 | ||||
Virtus Investment Partners Inc. | 98,453 | 22,236 | ||||
Mercury General Corp. | 415,727 | 22,092 | ||||
Hilltop Holdings Inc. | 705,071 | 22,055 | ||||
* | Goosehead Insurance Inc. Class A | 378,780 | 21,757 | |||
First Commonwealth Financial Corp. | 1,560,202 | 21,546 | ||||
FB Financial Corp. | 545,693 | 21,298 | ||||
Stock Yards Bancorp Inc. | 422,734 | 20,997 | ||||
Pathward Financial Inc. | 371,079 | 20,992 | ||||
* | Payoneer Global Inc. | 3,772,323 | 20,899 | |||
* | Customers Bancorp Inc. | 435,438 | 20,892 | |||
Two Harbors Investment Corp. | 1,578,453 | 20,851 | ||||
Horace Mann Educators Corp. | 638,860 | 20,840 | ||||
* | Skyward Specialty Insurance Group Inc. | 568,691 | 20,575 | |||
First Bancorp (XNGS) | 639,507 | 20,413 | ||||
Westamerica Bancorp | 416,432 | 20,209 | ||||
BancFirst Corp. | 226,804 | 19,891 | ||||
Ladder Capital Corp. Class A | 1,759,068 | 19,860 | ||||
Apollo Commercial Real Estate Finance Inc. | 2,023,833 | 19,813 | ||||
S&T Bancorp Inc. | 590,248 | 19,708 | ||||
Hope Bancorp Inc. | 1,829,393 | 19,648 | ||||
First Busey Corp. | 793,919 | 19,221 | ||||
TriCo Bancshares | 479,834 | 18,987 | ||||
1 | Ready Capital Corp. | 2,283,051 | 18,675 | |||
PennyMac Mortgage Investment Trust | 1,356,550 | 18,653 | ||||
CNA Financial Corp. | 400,021 | 18,429 | ||||
Navient Corp. | 1,255,271 | 18,277 | ||||
Live Oak Bancshares Inc. | 517,673 | 18,150 | ||||
Veritex Holdings Inc. | 833,406 | 17,577 | ||||
Safety Insurance Group Inc. | 233,426 | 17,514 | ||||
* | SiriusPoint Ltd. | 1,406,224 | 17,156 | |||
WisdomTree Inc. | 1,726,002 | 17,105 | ||||
Employers Holdings Inc. | 399,867 | 17,046 | ||||
Stellar Bancorp Inc. | 732,511 | 16,818 | ||||
Sandy Spring Bancorp Inc. | 689,696 | 16,801 | ||||
Nicolet Bankshares Inc. | 201,251 | 16,712 | ||||
MFA Financial Inc. | 1,570,511 | 16,710 | ||||
Merchants Bancorp | 410,755 | 16,652 | ||||
National Western Life Group Inc. Class A | 33,077 | 16,437 |
Shares | Market Value• ($000) | |||||
Franklin BSP Realty Trust Inc. | 1,295,881 | 16,328 | ||||
German American Bancorp Inc. | 461,724 | 16,322 | ||||
*,1 | Trupanion Inc. | 553,533 | 16,274 | |||
*,1 | Lemonade Inc. | 972,820 | 16,052 | |||
Cannae Holdings Inc. | 880,167 | 15,966 | ||||
QCR Holdings Inc. | 260,500 | 15,630 | ||||
* | Encore Capital Group Inc. | 371,868 | 15,518 | |||
Peoples Bancorp Inc. | 513,642 | 15,409 | ||||
Claros Mortgage Trust Inc. | 1,917,489 | 15,378 | ||||
Chimera Investment Corp. | 1,175,504 | 15,046 | ||||
Berkshire Hills Bancorp Inc. | 659,188 | 15,029 | ||||
1 | Ellington Financial Inc. | 1,244,098 | 15,029 | |||
1 | ARMOUR Residential REIT Inc. | 765,961 | 14,844 | |||
Preferred Bank | 194,406 | 14,676 | ||||
OceanFirst Financial Corp. | 920,292 | 14,623 | ||||
Enact Holdings Inc. | 471,792 | 14,465 | ||||
* | LendingClub Corp. | 1,704,880 | 14,423 | |||
Origin Bancorp Inc. | 453,942 | 14,399 | ||||
1st Source Corp. | 263,021 | 14,103 | ||||
Perella Weinberg Partners Class A | 828,376 | 13,461 | ||||
AMERISAFE Inc. | 306,208 | 13,439 | ||||
Redwood Trust Inc. | 2,037,696 | 13,225 | ||||
* | Repay Holdings Corp. Class A | 1,211,664 | 12,795 | |||
Southside Bancshares Inc. | 448,628 | 12,387 | ||||
* | PRA Group Inc. | 610,006 | 11,993 | |||
BrightSpire Capital Inc. Class A | 2,081,046 | 11,862 | ||||
* | AssetMark Financial Holdings Inc. | 340,254 | 11,756 | |||
Brookline Bancorp Inc. | 1,382,942 | 11,548 | ||||
First Bancshares Inc. | 442,513 | 11,496 | ||||
Dynex Capital Inc. | 958,645 | 11,446 | ||||
Dime Community Bancshares Inc. | 543,932 | 11,096 | ||||
First Mid Bancshares Inc. | 332,765 | 10,941 | ||||
Byline Bancorp Inc. | 460,386 | 10,930 | ||||
F&G Annuities & Life Inc. | 283,602 | 10,791 | ||||
ConnectOne Bancorp Inc. | 569,614 | 10,760 | ||||
Univest Financial Corp. | 458,980 | 10,479 | ||||
1 | UWM Holdings Corp. Class A | 1,488,093 | 10,312 | |||
Premier Financial Corp. | 499,516 | 10,220 | ||||
Burke & Herbert Financial Services Corp. | 197,483 | 10,068 | ||||
TFS Financial Corp. | 791,424 | 9,988 | ||||
* | International Money Express Inc. | 478,375 | 9,969 | |||
* | ProAssurance Corp. | 814,005 | 9,947 | |||
HCI Group Inc. | 107,775 | 9,934 | ||||
Heritage Financial Corp. | 542,085 | 9,774 | ||||
Brightsphere Investment Group Inc. | 440,746 | 9,771 | ||||
Capitol Federal Financial Inc. | 1,758,707 | 9,655 | ||||
Bank First Corp. | 116,210 | 9,598 | ||||
Community Trust Bancorp Inc. | 213,648 | 9,328 | ||||
Central Pacific Financial Corp. | 439,636 | 9,320 | ||||
* | Ambac Financial Group Inc. | 718,087 | 9,206 | |||
Mercantile Bank Corp. | 226,600 | 9,193 | ||||
* | NB Bancorp Inc. | 606,642 | 9,148 | |||
* | NerdWallet Inc. Class A | 620,908 | 9,065 | |||
Eagle Bancorp Inc. | 477,572 | 9,026 | ||||
A-Mark Precious Metals Inc. | 277,079 | 8,969 | ||||
* | Open Lending Corp. | 1,562,673 | 8,720 | |||
New York Mortgage Trust Inc. | 1,474,410 | 8,611 | ||||
Amerant Bancorp Inc. Class A | 378,046 | 8,582 | ||||
Tompkins Financial Corp. | 173,917 | 8,505 | ||||
KKR Real Estate Finance Trust Inc. | 938,599 | 8,494 | ||||
TrustCo Bank Corp. | 295,097 | 8,490 | ||||
* | EZCORP Inc. Class A | 810,019 | 8,481 | |||
Heritage Commerce Corp. | 973,960 | 8,473 | ||||
* | I3 Verticals Inc. Class A | 382,794 | 8,452 | |||
First Community Bankshares Inc. | 228,254 | 8,409 | ||||
Hanmi Financial Corp. | 491,863 | 8,224 | ||||
Old Second Bancorp Inc. | 555,058 | 8,220 | ||||
TPG RE Finance Trust Inc. | 949,910 | 8,207 | ||||
* | CrossFirst Bankshares Inc. | 585,408 | 8,207 | |||
Independent Bank Corp. (Michigan) | 287,372 | 7,759 |
Shares | Market Value• ($000) | |||||
Cambridge Bancorp | 112,147 | 7,738 | ||||
Amalgamated Financial Corp. | 282,367 | 7,737 | ||||
Washington Trust Bancorp Inc. | 280,378 | 7,685 | ||||
Business First Bancshares Inc. | 351,941 | 7,658 | ||||
Universal Insurance Holdings Inc. | 402,310 | 7,547 | ||||
Equity Bancshares Inc. Class A | 213,351 | 7,510 | ||||
Great Southern Bancorp Inc. | 134,683 | 7,490 | ||||
Metrocity Bankshares Inc. | 281,516 | 7,432 | ||||
Cass Information Systems Inc. | 184,075 | 7,376 | ||||
Camden National Corp. | 223,152 | 7,364 | ||||
HomeTrust Bancshares Inc. | 244,480 | 7,342 | ||||
* | Metropolitan Bank Holding Corp. | 173,898 | 7,319 | |||
Midland States Bancorp Inc. | 321,417 | 7,280 | ||||
Horizon Bancorp Inc. | 576,516 | 7,132 | ||||
CNB Financial Corp. | 346,519 | 7,072 | ||||
* | LendingTree Inc. | 170,027 | 7,071 | |||
* | Coastal Financial Corp. | 152,855 | 7,053 | |||
HarborOne Bancorp Inc. | 629,260 | 7,004 | ||||
Invesco Mortgage Capital Inc. | 747,100 | 7,000 | ||||
United Fire Group Inc. | 325,510 | 6,995 | ||||
Arrow Financial Corp. | 264,910 | 6,901 | ||||
* | Green Dot Corp. Class A | 727,186 | 6,872 | |||
GCM Grosvenor Inc. Class A | 700,940 | 6,841 | ||||
* | Columbia Financial Inc. | 454,837 | 6,809 | |||
* | World Acceptance Corp. | 54,842 | 6,777 | |||
Southern Missouri Bancorp Inc. | 150,393 | 6,769 | ||||
Five Star Bancorp | 282,007 | 6,669 | ||||
Republic Bancorp Inc. Class A | 123,888 | 6,642 | ||||
Northeast Bank | 107,519 | 6,544 | ||||
1 | Orchid Island Capital Inc. | 770,288 | 6,424 | |||
*,1 | Root Inc. Class A | 123,013 | 6,349 | |||
* | Moneylion Inc. | 84,452 | 6,211 | |||
Kearny Financial Corp. | 995,430 | 6,122 | ||||
P10 Inc. Class A | 708,636 | 6,009 | ||||
Diamond Hill Investment Group Inc. | 42,669 | 6,006 | ||||
Northfield Bancorp Inc. | 620,972 | 5,887 | ||||
Shore Bancshares Inc. | 510,548 | 5,846 | ||||
Macatawa Bank Corp. | 397,880 | 5,809 | ||||
SmartFinancial Inc. | 240,352 | 5,689 | ||||
Ares Commercial Real Estate Corp. | 854,091 | 5,680 | ||||
* | Carter Bankshares Inc. | 372,686 | 5,635 | |||
Farmers National Banc Corp. | 448,654 | 5,604 | ||||
* | Selectquote Inc. | 2,022,160 | 5,581 | |||
Capital City Bank Group Inc. | 195,911 | 5,572 | ||||
Tiptree Inc. Class A | 337,420 | 5,564 | ||||
Bar Harbor Bankshares | 206,102 | 5,540 | ||||
Alerus Financial Corp. | 273,255 | 5,359 | ||||
First Foundation Inc. | 805,478 | 5,276 | ||||
* | Paymentus Holdings Inc. Class A | 274,440 | 5,214 | |||
First Financial Corp. | 138,695 | 5,115 | ||||
* | Greenlight Capital Re Ltd. Class A | 390,152 | 5,111 | |||
ACNB Corp. | 140,482 | 5,095 | ||||
Flushing Financial Corp. | 384,611 | 5,058 | ||||
Mid Penn Bancorp Inc. | 227,566 | 4,995 | ||||
South Plains Financial Inc. | 184,067 | 4,970 | ||||
* | Cantaloupe Inc. | 749,717 | 4,948 | |||
Peoples Financial Services Corp. | 107,919 | 4,915 | ||||
Oppenheimer Holdings Inc. Class A | 102,492 | 4,910 | ||||
Bridge Investment Group Holdings Inc. Class A | 645,639 | 4,791 | ||||
1 | NewtekOne Inc. | 380,727 | 4,786 | |||
Financial Institutions Inc. | 247,530 | 4,782 | ||||
Home Bancorp Inc. | 118,877 | 4,756 | ||||
James River Group Holdings Ltd. | 609,333 | 4,710 | ||||
Sierra Bancorp | 207,906 | 4,653 | ||||
Peapack-Gladstone Financial Corp. | 203,729 | 4,614 | ||||
1 | B. Riley Financial Inc. | 259,605 | 4,579 | |||
Citizens & Northern Corp. | 255,884 | 4,578 | ||||
HBT Financial Inc. | 222,075 | 4,535 | ||||
Northrim Bancorp Inc. | 78,554 | 4,528 | ||||
Guaranty Bancshares Inc. | 140,797 | 4,441 |
Shares | Market Value• ($000) | |||||
* | NI Holdings Inc. | 288,805 | 4,419 | |||
*,1 | Hagerty Inc. Class A | 422,486 | 4,394 | |||
FS Bancorp Inc. | 119,191 | 4,345 | ||||
* | Hippo Holdings Inc. | 251,895 | 4,330 | |||
Northeast Community Bancorp Inc. | 239,956 | 4,276 | ||||
1 | Orrstown Financial Services Inc. | 156,108 | 4,271 | |||
First Bank | 330,291 | 4,208 | ||||
1 | Hingham Institution For Savings | 23,456 | 4,196 | |||
1 | Angel Oak Mortgage REIT Inc. | 320,151 | 4,194 | |||
Community West Bancshares | 225,208 | 4,166 | ||||
West Bancorp Inc. | 232,068 | 4,154 | ||||
First Business Financial Services Inc. | 112,140 | 4,148 | ||||
MBIA Inc. | 749,156 | 4,113 | ||||
Regional Management Corp. | 142,217 | 4,087 | ||||
Donegal Group Inc. Class A | 311,801 | 4,016 | ||||
*,1 | Sezzle Inc. | 45,245 | 3,992 | |||
* | Bridgewater Bancshares Inc. | 342,495 | 3,976 | |||
Farmers & Merchants Bancorp Inc. | 170,055 | 3,949 | ||||
MidWestOne Financial Group Inc. | 173,766 | 3,908 | ||||
* | Third Coast Bancshares Inc. | 181,078 | 3,852 | |||
Investors Title Co. | 21,248 | 3,827 | ||||
Esquire Financial Holdings Inc. | 80,040 | 3,810 | ||||
Federal Agricultural Mortgage Corp. Class A | 29,319 | 3,719 | ||||
*,1 | AlTi Global Inc. | 700,756 | 3,651 | |||
LCNB Corp. | 260,446 | 3,623 | ||||
RBB Bancorp | 192,099 | 3,613 | ||||
Waterstone Financial Inc. | 279,945 | 3,580 | ||||
BayCom Corp. | 175,600 | 3,573 | ||||
* | Southern First Bancshares Inc. | 122,020 | 3,568 | |||
Chicago Atlantic Real Estate Finance Inc. | 231,657 | 3,558 | ||||
Bank of Marin Bancorp | 218,155 | 3,532 | ||||
Red River Bancshares Inc. | 73,119 | 3,509 | ||||
Timberland Bancorp Inc. | 127,184 | 3,445 | ||||
Civista Bancshares Inc. | 221,663 | 3,434 | ||||
Enterprise Bancorp Inc. | 134,821 | 3,354 | ||||
AG Mortgage Investment Trust Inc. | 496,899 | 3,299 | ||||
* | American Coastal Insurance Corp. | 306,815 | 3,237 | |||
Greene County Bancorp Inc. | 95,693 | 3,226 | ||||
John Marshall Bancorp Inc. | 184,802 | 3,223 | ||||
Codorus Valley Bancorp Inc. | 133,541 | 3,210 | ||||
First of Long Island Corp. | 319,955 | 3,206 | ||||
First Internet Bancorp | 117,894 | 3,185 | ||||
Colony Bankcorp Inc. | 255,862 | 3,134 | ||||
HomeStreet Inc. | 267,514 | 3,050 | ||||
Orange County Bancorp Inc. | 57,431 | 3,037 | ||||
* | Acacia Research Corp. | 604,723 | 3,030 | |||
Primis Financial Corp. | 288,018 | 3,018 | ||||
MVB Financial Corp. | 160,092 | 2,984 | ||||
* | Ponce Financial Group Inc. | 322,732 | 2,950 | |||
First Bancorp Inc. | 117,770 | 2,927 | ||||
PCB Bancorp | 176,970 | 2,881 | ||||
AFC Gamma Inc. | 235,118 | 2,868 | ||||
Great Ajax Corp. | 795,203 | 2,839 | ||||
Citizens Financial Services Inc. | 62,236 | 2,797 | ||||
Fidelity D&D Bancorp Inc. | 62,024 | 2,717 | ||||
First Financial Northwest Inc. | 126,611 | 2,675 | ||||
Ames National Corp. | 128,938 | 2,642 | ||||
ChoiceOne Financial Services Inc. | 92,210 | 2,642 | ||||
Plumas Bancorp | 73,314 | 2,638 | ||||
* | Heritage Insurance Holdings Inc. | 371,244 | 2,628 | |||
Granite Point Mortgage Trust Inc. | 871,777 | 2,589 | ||||
Capital Bancorp Inc. | 125,289 | 2,568 | ||||
Norwood Financial Corp. | 101,046 | 2,565 | ||||
Chemung Financial Corp. | 52,844 | 2,537 | ||||
* | Blue Foundry Bancorp | 277,834 | 2,520 | |||
Princeton Bancorp Inc. | 75,716 | 2,506 | ||||
Southern States Bancshares Inc. | 91,779 | 2,491 | ||||
* | Forge Global Holdings Inc. | 1,700,514 | 2,483 | |||
* | Velocity Financial Inc. | 138,380 | 2,481 | |||
* | Provident Bancorp Inc. | 242,664 | 2,473 |
Shares | Market Value• ($000) | |||||
Unity Bancorp Inc. | 82,977 | 2,454 | ||||
Middlefield Banc Corp. | 101,429 | 2,439 | ||||
BCB Bancorp Inc. | 227,746 | 2,421 | ||||
*,1 | Bakkt Holdings Inc. Class A | 127,197 | 2,407 | |||
National Bankshares Inc. | 83,624 | 2,365 | ||||
Parke Bancorp Inc. | 135,724 | 2,362 | ||||
* | Southern California Bancorp | 170,797 | 2,301 | |||
Evans Bancorp Inc. | 81,839 | 2,300 | ||||
Oak Valley Bancorp | 92,100 | 2,300 | ||||
Bankwell Financial Group Inc. | 90,469 | 2,295 | ||||
Seven Hills Realty Trust | 180,973 | 2,295 | ||||
* | Kingsway Financial Services Inc. | 271,673 | 2,239 | |||
* | California Bancorp | 104,001 | 2,236 | |||
* | Onity Group Inc. | 92,076 | 2,208 | |||
ESSA Bancorp Inc. | 125,382 | 2,205 | ||||
* | FVCBankcorp Inc. | 201,512 | 2,201 | |||
1 | Virginia National Bankshares Corp. | 66,254 | 2,173 | |||
1 | C&F Financial Corp. | 44,566 | 2,148 | |||
* | Paysign Inc. | 496,392 | 2,139 | |||
* | Maiden Holdings Ltd. | 1,036,553 | 2,135 | |||
LINKBANCORP Inc. | 345,977 | 2,117 | ||||
*,1 | Better Home & Finance Holding Co. | 4,576,543 | 2,101 | |||
* | SWK Holdings Corp. | 123,528 | 2,099 | |||
Western New England Bancorp Inc. | 293,220 | 2,017 | ||||
First United Corp. | 97,981 | 2,001 | ||||
USCB Financial Holdings Inc. | 154,100 | 1,977 | ||||
* | Atlanticus Holdings Corp. | 70,011 | 1,973 | |||
Ellington Credit Co. | 283,171 | 1,968 | ||||
1 | Penns Woods Bancorp Inc. | 95,357 | 1,960 | |||
Medallion Financial Corp. | 254,706 | 1,956 | ||||
Peoples Bancorp of North Carolina Inc. | 66,532 | 1,943 | ||||
* | eHealth Inc. | 425,376 | 1,927 | |||
BankFinancial Corp. | 185,100 | 1,905 | ||||
Investar Holding Corp. | 122,875 | 1,892 | ||||
BV Financial Inc. | 157,520 | 1,876 | ||||
Cherry Hill Mortgage Investment Corp. | 515,377 | 1,871 | ||||
William Penn Bancorp | 163,334 | 1,862 | ||||
Silvercrest Asset Management Group Inc. Class A | 119,306 | 1,860 | ||||
Nexpoint Real Estate Finance Inc. | 132,816 | 1,822 | ||||
Richmond Mutual Bancorp Inc. | 155,139 | 1,821 | ||||
First Community Corp. | 104,208 | 1,798 | ||||
Hawthorn Bancshares Inc. | 90,769 | 1,797 | ||||
OP Bancorp | 187,294 | 1,796 | ||||
Bank7 Corp. | 55,837 | 1,748 | ||||
* | Security National Financial Corp. Class A | 218,152 | 1,743 | |||
1 | Associated Capital Group Inc. Class A | 51,150 | 1,740 | |||
Sachem Capital Corp. | 658,263 | 1,705 | ||||
*,1 | Citizens Inc. Class A | 626,169 | 1,703 | |||
* | First Western Financial Inc. | 99,208 | 1,687 | |||
Citizens Community Bancorp Inc. | 145,525 | 1,684 | ||||
* | ECB Bancorp Inc. | 133,874 | 1,671 | |||
Franklin Financial Services Corp. | 57,234 | 1,619 | ||||
FNCB Bancorp Inc. | 236,131 | 1,594 | ||||
Hanover Bancorp Inc. | 93,997 | 1,551 | ||||
MainStreet Bancshares Inc. | 87,327 | 1,548 | ||||
Meridian Corp. | 143,789 | 1,513 | ||||
* | SR Bancorp Inc. | 161,257 | 1,492 | |||
Eagle Bancorp Montana Inc. | 110,607 | 1,468 | ||||
* | Finwise Bancorp | 142,628 | 1,456 | |||
* | Consumer Portfolio Services Inc. | 143,922 | 1,410 | |||
* | Sterling Bancorp Inc. | 269,676 | 1,410 | |||
First Northwest Bancorp | 144,883 | 1,404 | ||||
First Savings Financial Group Inc. | 78,792 | 1,402 | ||||
SB Financial Group Inc. | 99,089 | 1,387 | ||||
CB Financial Services Inc. | 60,968 | 1,382 | ||||
Westwood Holdings Group Inc. | 113,259 | 1,379 | ||||
* | Priority Technology Holdings Inc. | 258,431 | 1,365 | |||
HMN Financial Inc. | 58,871 | 1,348 | ||||
Lument Finance Trust Inc. | 561,840 | 1,348 | ||||
First Capital Inc. | 44,241 | 1,347 |
Shares | Market Value• ($000) | |||||
Guild Holdings Co. Class A | 90,952 | 1,345 | ||||
* | loanDepot Inc. Class A | 812,915 | 1,341 | |||
* | ACRES Commercial Realty Corp. | 104,023 | 1,327 | |||
United Security Bancshares | 174,174 | 1,263 | ||||
* | Affinity Bancshares Inc. | 57,473 | 1,218 | |||
Riverview Bancorp Inc. | 296,809 | 1,184 | ||||
CF Bankshares Inc. | 62,612 | 1,175 | ||||
Finward Bancorp | 47,858 | 1,173 | ||||
Sound Financial Bancorp Inc. | 26,636 | 1,171 | ||||
First National Corp. | 76,797 | 1,167 | ||||
Provident Financial Holdings Inc. | 92,550 | 1,157 | ||||
* | Oportun Financial Corp. | 391,650 | 1,136 | |||
* | Catalyst Bancorp Inc. | 96,306 | 1,115 | |||
Magyar Bancorp Inc. | 97,998 | 1,101 | ||||
Territorial Bancorp Inc. | 133,227 | 1,079 | ||||
* | Pioneer Bancorp Inc. | 106,991 | 1,071 | |||
* | Heritage Global Inc. | 432,887 | 1,065 | |||
Ohio Valley Banc Corp. | 52,525 | 1,051 | ||||
Crawford & Co. Class B | 131,058 | 1,050 | ||||
Union Bankshares Inc. | 47,107 | 1,012 | ||||
Landmark Bancorp Inc. | 50,242 | 965 | ||||
* | 1895 Bancorp of Wisconsin Inc. | 113,359 | 927 | |||
Bank of the James Financial Group Inc. | 76,015 | 856 | ||||
United Bancorp Inc. | 67,545 | 848 | ||||
First Guaranty Bancshares Inc. | 90,349 | 813 | ||||
Summit State Bank | 84,229 | 796 | ||||
Old Point Financial Corp. | 54,204 | 795 | ||||
* | Rhinebeck Bancorp Inc. | 100,699 | 791 | |||
OppFi Inc. | 221,110 | 750 | ||||
First US Bancshares Inc. | 79,463 | 735 | ||||
* | Katapult Holdings Inc. | 43,628 | 733 | |||
* | Nicholas Financial Inc. | 107,044 | 703 | |||
* | GoHealth Inc. Class A | 70,226 | 683 | |||
Cullman Bancorp Inc. | 64,698 | 669 | ||||
Bayfirst Financial Corp. | 56,203 | 653 | ||||
* | Great Elm Group Inc. | 358,816 | 646 | |||
TC Bancshares Inc. | 46,307 | 625 | ||||
* | Kingstone Cos. Inc. | 123,172 | 616 | |||
* | Generations Bancorp NY Inc. | 58,856 | 616 | |||
IF Bancorp Inc. | 37,943 | 614 | ||||
US Global Investors Inc. Class A | 226,209 | 590 | ||||
* | First Seacoast Bancorp | 62,608 | 566 | |||
*,1 | Blue Ridge Bankshares Inc. | 210,890 | 550 | |||
Auburn National Bancorp Inc. | 29,648 | 542 | ||||
AmeriServ Financial Inc. | 234,364 | 530 | ||||
Manhattan Bridge Capital Inc. | 97,420 | 501 | ||||
Pathfinder Bancorp Inc. | 36,045 | 475 | ||||
Value Line Inc. | 10,721 | 462 | ||||
MarketWise Inc. | 392,321 | 455 | ||||
Hennessy Advisors Inc. | 58,395 | 416 | ||||
* | Broadway Financial Corp. | 78,709 | 405 | |||
* | Usio Inc. | 234,439 | 359 | |||
* | NSTS Bancorp Inc. | 36,306 | 350 | |||
* | BM Technologies Inc. | 144,374 | 325 | |||
*,2 | Vericity Inc. | 26,227 | 300 | |||
1 | Texas Community Bancshares Inc. | 20,037 | 292 | |||
* | Fundamental Global Inc. | 296,968 | 281 | |||
*,1 | Siebert Financial Corp. | 150,413 | 262 | |||
* | OptimumBank Holdings Inc. | 59,642 | 256 | |||
* | FlexShopper Inc. | 194,566 | 249 | |||
* | Bogota Financial Corp. | 36,486 | 246 | |||
*,1 | Bowhead Specialty Holdings Inc. | 9,721 | 246 | |||
* | Finance of America Cos. Inc. Class A | 445,632 | 220 | |||
*,1 | Oxbridge Re Holdings Ltd. | 85,132 | 203 | |||
* | PB Bankshares Inc. | 13,980 | 198 | |||
Village Bank & Trust Financial Corp. | 3,824 | 176 | ||||
Crawford & Co. Class A | 19,500 | 168 | ||||
Kentucky First Federal Bancorp | 53,070 | 168 | ||||
Home Federal Bancorp Inc. of Louisiana | 13,796 | 160 | ||||
1 | Atlantic American Corp. | 88,541 | 150 |
Shares | Market Value• ($000) | |||||
* | Income Opportunity Realty Investors Inc. | 8,889 | 147 | |||
*,1 | AppTech Payments Corp. | 149,956 | 141 | |||
* | Ashford Inc. | 25,046 | 123 | |||
* | Carver Bancorp Inc. | 71,288 | 101 | |||
* | Central Plains Bancshares Inc. | 7,169 | 72 | |||
* | Binah Capital Group Inc. | 11,350 | 70 | |||
Lake Shore Bancorp Inc. | 4,747 | 59 | ||||
Glen Burnie Bancorp | 12,758 | 53 | ||||
*,1 | Ryvyl Inc. | 35,394 | 51 | |||
1 | Cohen & Co. Inc. | 4,688 | 42 | |||
* | ICC Holdings Inc. | 1,848 | 42 | |||
*,1 | XBP Europe Holdings Inc. | 23,988 | 42 | |||
* | Patriot National Bancorp Inc. | 18,171 | 34 | |||
*,1 | OLB Group Inc. | 11,281 | 33 | |||
*,1 | Beneficient Class A | 12,027 | 27 | |||
* | Conifer Holdings Inc. | 25,019 | 21 | |||
* | SHF Holdings Inc. | 38,848 | 21 | |||
* | CFSB Bancorp Inc. | 1,674 | 11 | |||
*,1 | Reliance Global Group Inc. | 40,514 | 9 | |||
*,1 | Netcapital Inc. | 52,818 | 6 | |||
*,1 | Mill City Ventures III Ltd. | 492 | 1 | |||
* | Marygold Cos. Inc. | 122 | — | |||
17,092,471 | ||||||
Health Care (12.0%) | ||||||
* | Alnylam Pharmaceuticals Inc. | 1,920,756 | 466,744 | |||
* | Veeva Systems Inc. Class A | 2,228,398 | 407,819 | |||
* | Illumina Inc. | 2,416,898 | 252,276 | |||
* | BioMarin Pharmaceutical Inc. | 2,887,179 | 237,701 | |||
* | Sarepta Therapeutics Inc. | 1,436,528 | 226,971 | |||
* | Avantor Inc. | 10,297,268 | 218,302 | |||
* | United Therapeutics Corp. | 673,839 | 214,651 | |||
* | Neurocrine Biosciences Inc. | 1,528,561 | 210,437 | |||
* | Tenet Healthcare Corp. | 1,477,252 | 196,519 | |||
* | Natera Inc. | 1,749,348 | 189,437 | |||
* | Insmed Inc. | 2,451,519 | 164,252 | |||
Royalty Pharma plc Class A | 5,889,088 | 155,295 | ||||
* | Medpace Holdings Inc. | 356,293 | 146,739 | |||
Encompass Health Corp. | 1,522,013 | 130,573 | ||||
Chemed Corp. | 229,441 | 124,490 | ||||
* | Exact Sciences Corp. | 2,801,351 | 118,357 | |||
* | Globus Medical Inc. Class A | 1,713,695 | 117,371 | |||
* | Vaxcyte Inc. | 1,512,366 | 114,199 | |||
* | HealthEquity Inc. | 1,314,328 | 113,295 | |||
* | Elanco Animal Health Inc. | 7,506,122 | 108,313 | |||
* | Penumbra Inc. | 590,071 | 106,195 | |||
* | Ionis Pharmaceuticals Inc. | 2,221,959 | 105,899 | |||
Ensign Group Inc. | 855,579 | 105,827 | ||||
* | Blueprint Medicines Corp. | 956,083 | 103,047 | |||
* | Jazz Pharmaceuticals plc | 957,374 | 102,181 | |||
* | Intra-Cellular Therapies Inc. | 1,486,704 | 101,824 | |||
* | Halozyme Therapeutics Inc. | 1,933,227 | 101,224 | |||
* | Exelixis Inc. | 4,448,032 | 99,947 | |||
* | Repligen Corp. | 787,488 | 99,271 | |||
* | Acadia Healthcare Co. Inc. | 1,406,711 | 95,009 | |||
* | Cytokinetics Inc. | 1,746,330 | 94,616 | |||
Bruker Corp. | 1,477,639 | 94,288 | ||||
* | Glaukos Corp. | 770,738 | 91,217 | |||
* | Viking Therapeutics Inc. | 1,686,774 | 89,416 | |||
* | Masimo Corp. | 678,093 | 85,399 | |||
* | Lantheus Holdings Inc. | 1,047,493 | 84,103 | |||
Organon & Co. | 3,888,696 | 80,496 | ||||
DENTSPLY SIRONA Inc. | 3,172,443 | 79,026 | ||||
* | REVOLUTION Medicines Inc. | 1,965,788 | 76,292 | |||
* | Merit Medical Systems Inc. | 877,012 | 75,379 | |||
* | TransMedics Group Inc. | 496,970 | 74,854 | |||
* | Option Care Health Inc. | 2,640,455 | 73,141 | |||
* | Madrigal Pharmaceuticals Inc. | 256,710 | 71,920 | |||
* | Krystal Biotech Inc. | 380,246 | 69,828 | |||
*,1 | CRISPR Therapeutics AG | 1,292,545 | 69,810 |
Shares | Market Value• ($000) | |||||
* | Haemonetics Corp. | 770,330 | 63,729 | |||
* | Alkermes plc | 2,577,639 | 62,121 | |||
* | Apellis Pharmaceuticals Inc. | 1,580,227 | 60,617 | |||
* | Inspire Medical Systems Inc. | 449,926 | 60,214 | |||
* | Avidity Biosciences Inc. | 1,466,191 | 59,894 | |||
* | RadNet Inc. | 1,008,526 | 59,422 | |||
* | Integer Holdings Corp. | 503,767 | 58,331 | |||
Select Medical Holdings Corp. | 1,628,337 | 57,089 | ||||
* | Ultragenyx Pharmaceutical Inc. | 1,374,396 | 56,488 | |||
* | Cerevel Therapeutics Holdings Inc. | 1,334,514 | 54,568 | |||
* | Guardant Health Inc. | 1,880,860 | 54,319 | |||
* | Roivant Sciences Ltd. | 5,078,060 | 53,675 | |||
* | Bridgebio Pharma Inc. | 2,117,363 | 53,633 | |||
* | Prestige Consumer Healthcare Inc. | 765,728 | 52,720 | |||
Perrigo Co. plc | 2,049,773 | 52,638 | ||||
* | Doximity Inc. Class A | 1,844,645 | 51,595 | |||
* | Axonics Inc. | 763,878 | 51,356 | |||
* | iRhythm Technologies Inc. | 475,271 | 51,158 | |||
* | Axsome Therapeutics Inc. | 601,700 | 48,437 | |||
* | Arrowhead Pharmaceuticals Inc. | 1,862,827 | 48,415 | |||
* | Crinetics Pharmaceuticals Inc. | 1,049,715 | 47,017 | |||
* | Neogen Corp. | 2,966,211 | 46,362 | |||
* | Hims & Hers Health Inc. | 2,269,875 | 45,829 | |||
*,1 | Corcept Therapeutics Inc. | 1,406,293 | 45,690 | |||
* | Amedisys Inc. | 497,243 | 45,647 | |||
* | Denali Therapeutics Inc. | 1,924,179 | 44,679 | |||
* | LivaNova plc | 809,983 | 44,403 | |||
* | Twist Bioscience Corp. | 892,371 | 43,976 | |||
* | Azenta Inc. | 816,355 | 42,957 | |||
* | Envista Holdings Corp. | 2,579,413 | 42,896 | |||
* | PROCEPT BioRobotics Corp. | 684,436 | 41,812 | |||
* | Ideaya Biosciences Inc. | 1,163,728 | 40,858 | |||
* | Amicus Therapeutics Inc. | 4,032,816 | 40,006 | |||
* | Tandem Diabetes Care Inc. | 978,754 | 39,434 | |||
* | Dyne Therapeutics Inc. | 1,105,562 | 39,015 | |||
* | Biohaven Ltd. | 1,116,657 | 38,759 | |||
* | Inari Medical Inc. | 795,058 | 38,282 | |||
* | Nuvalent Inc. Class A | 493,382 | 37,428 | |||
* | ICU Medical Inc. | 314,735 | 37,375 | |||
* | Agios Pharmaceuticals Inc. | 863,893 | 37,251 | |||
* | SpringWorks Therapeutics Inc. | 988,497 | 37,237 | |||
* | R1 RCM Inc. | 2,955,888 | 37,126 | |||
* | ADMA Biologics Inc. | 3,282,629 | 36,700 | |||
* | TG Therapeutics Inc. | 2,061,525 | 36,675 | |||
* | Celldex Therapeutics Inc. | 980,237 | 36,279 | |||
* | STAAR Surgical Co. | 757,447 | 36,062 | |||
* | PTC Therapeutics Inc. | 1,170,227 | 35,786 | |||
* | Progyny Inc. | 1,236,300 | 35,371 | |||
* | Enovis Corp. | 767,177 | 34,676 | |||
* | CorVel Corp. | 134,416 | 34,178 | |||
* | Evolent Health Inc. Class A | 1,779,331 | 34,021 | |||
* | Myriad Genetics Inc. | 1,389,583 | 33,989 | |||
* | Geron Corp. | 7,990,909 | 33,881 | |||
* | Vericel Corp. | 737,654 | 33,844 | |||
* | Intellia Therapeutics Inc. | 1,489,860 | 33,343 | |||
* | Fortrea Holdings Inc. | 1,375,417 | 32,102 | |||
* | Rhythm Pharmaceuticals Inc. | 779,835 | 32,020 | |||
CONMED Corp. | 456,639 | 31,654 | ||||
* | 10X Genomics Inc. Class A | 1,610,715 | 31,328 | |||
* | Addus HomeCare Corp. | 268,143 | 31,134 | |||
* | Protagonist Therapeutics Inc. | 890,334 | 30,850 | |||
* | Integra LifeSciences Holdings Corp. | 1,055,082 | 30,745 | |||
* | agilon health Inc. | 4,688,422 | 30,662 | |||
* | Iovance Biotherapeutics Inc. | 3,754,303 | 30,109 | |||
* | ACADIA Pharmaceuticals Inc. | 1,849,118 | 30,048 | |||
* | AMN Healthcare Services Inc. | 585,387 | 29,989 | |||
* | Arcellx Inc. | 538,787 | 29,736 | |||
Premier Inc. Class A | 1,572,367 | 29,356 | ||||
Patterson Cos. Inc. | 1,208,263 | 29,143 | ||||
* | Arvinas Inc. | 1,061,659 | 28,261 |
Shares | Market Value• ($000) | |||||
* | UFP Technologies Inc. | 105,283 | 27,781 | |||
* | Privia Health Group Inc. | 1,593,029 | 27,687 | |||
* | NeoGenomics Inc. | 1,974,235 | 27,383 | |||
* | Surgery Partners Inc. | 1,136,280 | 27,032 | |||
*,1 | Novavax Inc. | 2,132,820 | 27,001 | |||
* | Ardelyx Inc. | 3,614,302 | 26,782 | |||
* | Catalyst Pharmaceuticals Inc. | 1,724,664 | 26,715 | |||
* | Astrana Health Inc. | 655,724 | 26,596 | |||
* | Novocure Ltd. | 1,511,275 | 25,888 | |||
* | QuidelOrtho Corp. | 767,480 | 25,496 | |||
LeMaitre Vascular Inc. | 308,291 | 25,366 | ||||
* | Syndax Pharmaceuticals Inc. | 1,228,494 | 25,221 | |||
* | Teladoc Health Inc. | 2,573,407 | 25,168 | |||
* | Veracyte Inc. | 1,133,864 | 24,571 | |||
* | Vera Therapeutics Inc. Class A | 678,584 | 24,551 | |||
* | Kura Oncology Inc. | 1,183,318 | 24,365 | |||
* | Akero Therapeutics Inc. | 1,032,139 | 24,214 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 3,129,587 | 23,472 | |||
* | Beam Therapeutics Inc. | 1,000,706 | 23,447 | |||
* | Amphastar Pharmaceuticals Inc. | 583,607 | 23,344 | |||
* | Certara Inc. | 1,666,057 | 23,075 | |||
* | Immunovant Inc. | 872,932 | 23,045 | |||
* | Sotera Health Co. | 1,936,794 | 22,990 | |||
* | RxSight Inc. | 380,847 | 22,916 | |||
* | Rocket Pharmaceuticals Inc. | 1,057,055 | 22,758 | |||
National HealthCare Corp. | 209,230 | 22,681 | ||||
* | Supernus Pharmaceuticals Inc. | 843,375 | 22,560 | |||
* | Dynavax Technologies Corp. | 1,987,822 | 22,323 | |||
* | MannKind Corp. | 4,183,561 | 21,838 | |||
* | Morphic Holding Inc. | 630,719 | 21,489 | |||
* | Ligand Pharmaceuticals Inc. | 254,112 | 21,411 | |||
US Physical Therapy Inc. | 231,244 | 21,372 | ||||
* | Pacira BioSciences Inc. | 718,758 | 20,564 | |||
* | Brookdale Senior Living Inc. | 2,968,483 | 20,275 | |||
* | Kymera Therapeutics Inc. | 669,124 | 19,973 | |||
* | Edgewise Therapeutics Inc. | 1,098,177 | 19,778 | |||
*,1 | Mirum Pharmaceuticals Inc. | 575,872 | 19,689 | |||
* | Keros Therapeutics Inc. | 422,774 | 19,321 | |||
* | Omnicell Inc. | 708,519 | 19,180 | |||
* | BioCryst Pharmaceuticals Inc. | 3,044,972 | 18,818 | |||
* | Xencor Inc. | 956,297 | 18,103 | |||
* | Nurix Therapeutics Inc. | 845,780 | 17,651 | |||
* | Phreesia Inc. | 816,688 | 17,314 | |||
* | AtriCure Inc. | 737,608 | 16,795 | |||
* | Schrodinger Inc. | 848,992 | 16,419 | |||
* | Silk Road Medical Inc. | 606,292 | 16,394 | |||
* | Ocular Therapeutix Inc. | 2,380,438 | 16,282 | |||
* | Collegium Pharmaceutical Inc. | 502,750 | 16,189 | |||
*,1 | Apogee Therapeutics Inc. | 401,260 | 15,790 | |||
* | Alphatec Holdings Inc. | 1,507,620 | 15,755 | |||
* | Artivion Inc. | 606,638 | 15,560 | |||
* | ANI Pharmaceuticals Inc. | 243,964 | 15,536 | |||
*,1 | Summit Therapeutics Inc. | 1,950,267 | 15,212 | |||
*,1 | ImmunityBio Inc. | 2,396,790 | 15,148 | |||
*,1 | Janux Therapeutics Inc. | 361,021 | 15,123 | |||
* | Owens & Minor Inc. | 1,095,006 | 14,783 | |||
*,1 | Arcutis Biotherapeutics Inc. | 1,556,015 | 14,471 | |||
* | Harmony Biosciences Holdings Inc. | 466,511 | 14,075 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 2,136,440 | 13,930 | |||
*,1 | Soleno Therapeutics Inc. | 329,202 | 13,431 | |||
* | Innoviva Inc. | 795,879 | 13,052 | |||
* | Cullinan Therapeutics Inc. | 746,994 | 13,028 | |||
* | Avanos Medical Inc. | 653,712 | 13,022 | |||
* | Tarsus Pharmaceuticals Inc. | 471,849 | 12,825 | |||
* | Arcus Biosciences Inc. | 841,558 | 12,817 | |||
* | MiMedx Group Inc. | 1,817,566 | 12,596 | |||
Simulations Plus Inc. | 258,823 | 12,584 | ||||
* | Prothena Corp. plc | 605,943 | 12,507 | |||
* | Alignment Healthcare Inc. | 1,588,024 | 12,418 | |||
* | Vir Biotechnology Inc. | 1,391,991 | 12,389 |
Shares | Market Value• ($000) | |||||
* | Maravai LifeSciences Holdings Inc. Class A | 1,724,812 | 12,350 | |||
* | Disc Medicine Inc. | 270,085 | 12,173 | |||
* | 4D Molecular Therapeutics Inc. | 575,772 | 12,085 | |||
* | CareDx Inc. | 759,765 | 11,799 | |||
* | BioLife Solutions Inc. | 548,592 | 11,756 | |||
*,1 | Spyre Therapeutics Inc. | 486,886 | 11,447 | |||
* | AdaptHealth Corp. Class A | 1,131,427 | 11,314 | |||
* | Viridian Therapeutics Inc. | 865,652 | 11,262 | |||
Embecta Corp. | 900,237 | 11,253 | ||||
* | Amneal Pharmaceuticals Inc. | 1,759,668 | 11,174 | |||
* | Longboard Pharmaceuticals Inc. | 411,254 | 11,116 | |||
* | Pennant Group Inc. | 473,124 | 10,972 | |||
* | Day One Biopharmaceuticals Inc. | 795,241 | 10,958 | |||
* | Kiniksa Pharmaceuticals International plc Class A | 563,008 | 10,511 | |||
* | Praxis Precision Medicines Inc. | 253,128 | 10,469 | |||
*,1 | Harrow Inc. | 497,932 | 10,402 | |||
* | Cogent Biosciences Inc. | 1,206,702 | 10,172 | |||
*,1 | CG oncology Inc. | 321,901 | 10,162 | |||
* | 89bio Inc. | 1,261,037 | 10,101 | |||
Atrion Corp. | 21,891 | 9,904 | ||||
* | Surmodics Inc. | 232,767 | 9,786 | |||
* | Pediatrix Medical Group Inc. | 1,283,940 | 9,694 | |||
* | PACS Group Inc. | 326,121 | 9,621 | |||
* | Varex Imaging Corp. | 650,315 | 9,579 | |||
*,1 | BrightSpring Health Services Inc. | 842,853 | 9,575 | |||
* | GoodRx Holdings Inc. Class A | 1,227,072 | 9,571 | |||
* | Liquidia Corp. | 794,973 | 9,540 | |||
HealthStream Inc. | 340,178 | 9,491 | ||||
* | Relay Therapeutics Inc. | 1,455,323 | 9,489 | |||
* | Arcturus Therapeutics Holdings Inc. | 380,623 | 9,268 | |||
* | Sana Biotechnology Inc. | 1,677,819 | 9,161 | |||
* | Pliant Therapeutics Inc. | 851,070 | 9,149 | |||
* | Castle Biosciences Inc. | 420,034 | 9,144 | |||
*,1 | Enliven Therapeutics Inc. | 389,889 | 9,112 | |||
* | PetIQ Inc. Class A | 408,882 | 9,020 | |||
* | Sage Therapeutics Inc. | 818,835 | 8,893 | |||
* | Olema Pharmaceuticals Inc. | 819,239 | 8,864 | |||
* | Cytek Biosciences Inc. | 1,582,080 | 8,828 | |||
* | REGENXBIO Inc. | 749,451 | 8,769 | |||
*,1 | Immunome Inc. | 723,725 | 8,757 | |||
* | Travere Therapeutics Inc. | 1,064,154 | 8,747 | |||
*,1 | Cassava Sciences Inc. | 695,817 | 8,593 | |||
*,1 | Dianthus Therapeutics Inc. | 321,512 | 8,321 | |||
* | Perspective Therapeutics Inc. | 834,566 | 8,321 | |||
* | Standard BioTools Inc. | 4,677,642 | 8,279 | |||
*,1 | Heron Therapeutics Inc. | 2,318,820 | 8,116 | |||
* | Zimvie Inc. | 421,950 | 7,701 | |||
*,1 | GeneDx Holdings Corp. Class A | 292,132 | 7,636 | |||
* | SI-BONE Inc. | 588,903 | 7,615 | |||
* | Orthofix Medical Inc. | 573,083 | 7,599 | |||
* | Replimune Group Inc. | 842,870 | 7,586 | |||
* | Evolus Inc. | 690,682 | 7,494 | |||
* | Corbus Pharmaceuticals Holdings Inc. | 165,492 | 7,489 | |||
* | OrthoPediatrics Corp. | 259,698 | 7,469 | |||
*,1 | Mind Medicine MindMed Inc. | 1,025,154 | 7,391 | |||
* | Cross Country Healthcare Inc. | 530,681 | 7,345 | |||
* | AnaptysBio Inc. | 292,885 | 7,340 | |||
*,1 | Altimmune Inc. | 1,100,353 | 7,317 | |||
* | Stoke Therapeutics Inc. | 539,862 | 7,294 | |||
* | Enhabit Inc. | 813,381 | 7,255 | |||
*,1 | OPKO Health Inc. | 5,688,535 | 7,111 | |||
* | Quanterix Corp. | 538,228 | 7,110 | |||
* | LifeStance Health Group Inc. | 1,446,225 | 7,101 | |||
* | Avid Bioservices Inc. | 994,082 | 7,098 | |||
Mesa Laboratories Inc. | 80,915 | 7,021 | ||||
*,1 | WaVe Life Sciences Ltd. | 1,398,747 | 6,980 | |||
* | Tango Therapeutics Inc. | 799,266 | 6,858 | |||
*,1 | ARS Pharmaceuticals Inc. | 805,054 | 6,851 | |||
* | Nuvation Bio Inc. | 2,328,921 | 6,800 | |||
*,1 | Clover Health Investments Corp. Class A | 5,492,187 | 6,755 |
Shares | Market Value• ($000) | |||||
* | Community Health Systems Inc. | 2,000,615 | 6,722 | |||
* | Applied Therapeutics Inc. | 1,438,331 | 6,717 | |||
* | Sharecare Inc. | 4,949,573 | 6,682 | |||
* | KalVista Pharmaceuticals Inc. | 557,268 | 6,565 | |||
* | Adaptive Biotechnologies Corp. | 1,769,975 | 6,407 | |||
*,1 | Scholar Rock Holding Corp. | 767,319 | 6,392 | |||
* | Astria Therapeutics Inc. | 697,889 | 6,351 | |||
* | MaxCyte Inc. | 1,617,187 | 6,339 | |||
* | Erasca Inc. | 2,673,291 | 6,309 | |||
* | Anika Therapeutics Inc. | 248,564 | 6,296 | |||
* | Editas Medicine Inc. | 1,347,313 | 6,292 | |||
* | Fulgent Genetics Inc. | 320,296 | 6,284 | |||
* | Larimar Therapeutics Inc. | 855,591 | 6,203 | |||
*,1 | Ocugen Inc. | 3,995,360 | 6,193 | |||
* | GRAIL Inc. | 402,816 | 6,191 | |||
* | Arbutus Biopharma Corp. | 1,990,463 | 6,151 | |||
* | iTeos Therapeutics Inc. | 413,999 | 6,144 | |||
* | Savara Inc. | 1,503,598 | 6,059 | |||
1 | LENZ Therapeutics Inc. | 346,401 | 5,989 | |||
*,1 | Allogene Therapeutics Inc. | 2,542,766 | 5,925 | |||
* | Health Catalyst Inc. | 923,906 | 5,904 | |||
* | Celcuity Inc. | 356,903 | 5,846 | |||
* | Y-mAbs Therapeutics Inc. | 481,280 | 5,814 | |||
*,1 | Humacyte Inc. | 1,204,402 | 5,781 | |||
* | OmniAb Inc. | 1,506,977 | 5,651 | |||
*,1 | Phathom Pharmaceuticals Inc. | 548,307 | 5,648 | |||
* | Tyra Biosciences Inc. | 352,277 | 5,633 | |||
*,1 | HilleVax Inc. | 387,588 | 5,605 | |||
*,1 | Esperion Therapeutics Inc. | 2,512,031 | 5,577 | |||
*,1 | Neurogene Inc. | 152,474 | 5,549 | |||
*,1 | Anavex Life Sciences Corp. | 1,296,518 | 5,471 | |||
*,1 | Emergent BioSolutions Inc. | 798,193 | 5,444 | |||
iRadimed Corp. | 123,285 | 5,417 | ||||
National Research Corp. | 235,996 | 5,416 | ||||
*,1 | Pacific Biosciences of California Inc. | 3,893,640 | 5,334 | |||
* | Cerus Corp. | 3,016,418 | 5,309 | |||
* | CryoPort Inc. | 767,725 | 5,305 | |||
* | ModivCare Inc. | 201,707 | 5,293 | |||
* | Talkspace Inc. | 2,235,103 | 5,141 | |||
* | Annexon Inc. | 1,040,148 | 5,097 | |||
* | Cargo Therapeutics Inc. | 307,934 | 5,056 | |||
* | Xeris Biopharma Holdings Inc. | 2,223,476 | 5,003 | |||
* | OraSure Technologies Inc. | 1,172,330 | 4,994 | |||
Phibro Animal Health Corp. Class A | 297,708 | 4,993 | ||||
* | EyePoint Pharmaceuticals Inc. | 573,691 | 4,991 | |||
* | Alector Inc. | 1,095,588 | 4,974 | |||
* | Axogen Inc. | 683,356 | 4,947 | |||
* | Voyager Therapeutics Inc. | 625,222 | 4,945 | |||
*,1 | Prime Medicine Inc. | 961,920 | 4,944 | |||
* | Vanda Pharmaceuticals Inc. | 870,819 | 4,920 | |||
*,1 | Lexicon Pharmaceuticals Inc. | 2,904,392 | 4,879 | |||
* | ORIC Pharmaceuticals Inc. | 683,846 | 4,835 | |||
* | Aura Biosciences Inc. | 638,227 | 4,825 | |||
* | Fulcrum Therapeutics Inc. | 777,459 | 4,820 | |||
* | Nevro Corp. | 569,043 | 4,791 | |||
*,1 | C4 Therapeutics Inc. | 1,028,590 | 4,752 | |||
* | Verve Therapeutics Inc. | 962,419 | 4,697 | |||
*,1 | Theravance Biopharma Inc. | 546,626 | 4,635 | |||
* | PepGen Inc. | 287,367 | 4,586 | |||
*,1 | Agenus Inc. | 270,669 | 4,534 | |||
* | Treace Medical Concepts Inc. | 674,760 | 4,487 | |||
* | Jasper Therapeutics Inc. | 197,623 | 4,486 | |||
* | Cabaletta Bio Inc. | 597,279 | 4,468 | |||
* | Tactile Systems Technology Inc. | 373,280 | 4,457 | |||
SIGA Technologies Inc. | 584,027 | 4,433 | ||||
* | Mineralys Therapeutics Inc. | 371,819 | 4,350 | |||
* | DocGo Inc. | 1,391,846 | 4,301 | |||
* | Lexeo Therapeutics Inc. | 267,330 | 4,288 | |||
* | Fate Therapeutics Inc. | 1,304,546 | 4,279 | |||
*,1 | Scilex Holding Co. | 2,213,274 | 4,272 |
Shares | Market Value• ($000) | |||||
* | Paragon 28 Inc. | 622,012 | 4,255 | |||
* | Definitive Healthcare Corp. Class A | 765,225 | 4,178 | |||
* | Entrada Therapeutics Inc. | 292,648 | 4,170 | |||
* | Nkarta Inc. | 699,516 | 4,134 | |||
*,1 | Absci Corp. | 1,335,995 | 4,115 | |||
*,1 | Korro Bio Inc. | 119,240 | 4,039 | |||
* | Atea Pharmaceuticals Inc. | 1,212,939 | 4,015 | |||
* | Accolade Inc. | 1,106,963 | 3,963 | |||
* | MacroGenics Inc. | 929,279 | 3,949 | |||
* | Pulmonx Corp. | 615,697 | 3,904 | |||
* | Viemed Healthcare Inc. | 587,246 | 3,846 | |||
* | AngioDynamics Inc. | 631,882 | 3,823 | |||
*,1 | Omeros Corp. | 935,998 | 3,800 | |||
*,1 | Revance Therapeutics Inc. | 1,429,562 | 3,674 | |||
* | Sutro Biopharma Inc. | 1,252,310 | 3,669 | |||
* | Zentalis Pharmaceuticals Inc. | 895,671 | 3,663 | |||
* | Enanta Pharmaceuticals Inc. | 281,611 | 3,652 | |||
* | Terns Pharmaceuticals Inc. | 532,520 | 3,626 | |||
* | Lyell Immunopharma Inc. | 2,499,748 | 3,625 | |||
* | Nektar Therapeutics Class A | 2,918,369 | 3,619 | |||
* | TScan Therapeutics Inc. | 601,711 | 3,520 | |||
* | Aquestive Therapeutics Inc. | 1,324,106 | 3,443 | |||
*,1 | CorMedix Inc. | 795,016 | 3,442 | |||
*,1 | Orchestra BioMed Holdings Inc. | 414,591 | 3,379 | |||
* | Taysha Gene Therapies Inc. | 1,481,322 | 3,318 | |||
*,1 | Renovaro Inc. | 1,869,825 | 3,272 | |||
Utah Medical Products Inc. | 48,796 | 3,260 | ||||
* | uniQure NV | 717,316 | 3,214 | |||
* | Monte Rosa Therapeutics Inc. | 859,484 | 3,214 | |||
*,1 | Senseonics Holdings Inc. | 7,942,373 | 3,169 | |||
* | Codexis Inc. | 1,016,202 | 3,150 | |||
*,1 | Bluebird Bio Inc. | 3,191,398 | 3,141 | |||
* | Actinium Pharmaceuticals Inc. | 424,314 | 3,140 | |||
Tourmaline Bio Inc. | 243,180 | 3,127 | ||||
* | Avita Medical Inc. | 389,203 | 3,082 | |||
* | Organogenesis Holdings Inc. Class A | 1,099,012 | 3,077 | |||
* | Mersana Therapeutics Inc. | 1,524,973 | 3,065 | |||
* | Inozyme Pharma Inc. | 679,651 | 3,031 | |||
*,1 | ArriVent Biopharma Inc. | 162,840 | 3,021 | |||
*,1 | Precigen Inc. | 1,911,098 | 3,020 | |||
* | Joint Corp. | 214,460 | 3,015 | |||
* | Performant Financial Corp. | 1,035,958 | 3,004 | |||
* | Alimera Sciences Inc. | 538,980 | 2,997 | |||
* | Sonida Senior Living Inc. | 108,991 | 2,997 | |||
*,1 | 2seventy bio Inc. | 777,592 | 2,994 | |||
* | Abeona Therapeutics Inc. | 703,062 | 2,981 | |||
* | Sight Sciences Inc. | 446,804 | 2,980 | |||
* | Third Harmonic Bio Inc. | 228,809 | 2,975 | |||
*,1 | Achieve Life Sciences Inc. | 629,867 | 2,960 | |||
* | LifeMD Inc. | 423,487 | 2,905 | |||
* | Outset Medical Inc. | 753,842 | 2,902 | |||
* | Poseida Therapeutics Inc. Class A | 993,340 | 2,901 | |||
* | Inogen Inc. | 354,264 | 2,880 | |||
*,1 | Pulse Biosciences Inc. | 257,244 | 2,879 | |||
*,1 | Zynex Inc. | 303,630 | 2,830 | |||
* | Bioventus Inc. Class A | 488,385 | 2,808 | |||
*,1 | Lineage Cell Therapeutics Inc. | 2,814,846 | 2,807 | |||
* | Black Diamond Therapeutics Inc. | 600,308 | 2,797 | |||
*,1 | Pyxis Oncology Inc. | 843,184 | 2,791 | |||
*,1 | Semler Scientific Inc. | 79,034 | 2,719 | |||
* | OptimizeRx Corp. | 270,268 | 2,703 | |||
* | Shattuck Labs Inc. | 699,719 | 2,701 | |||
* | Inovio Pharmaceuticals Inc. | 331,740 | 2,680 | |||
* | Akebia Therapeutics Inc. | 2,602,859 | 2,655 | |||
* | Delcath Systems Inc. | 315,324 | 2,639 | |||
* | Accuray Inc. | 1,445,720 | 2,631 | |||
* | Gossamer Bio Inc. | 2,879,795 | 2,594 | |||
*,1 | Context Therapeutics Inc. | 1,275,978 | 2,558 | |||
* | XOMA Corp. | 104,165 | 2,468 | |||
*,1 | Cibus Inc. Class A | 250,372 | 2,466 |
Shares | Market Value• ($000) | |||||
*,1 | ALX Oncology Holdings Inc. | 404,096 | 2,437 | |||
* | Aldeyra Therapeutics Inc. | 735,041 | 2,433 | |||
*,1 | Neumora Therapeutics Inc. | 246,188 | 2,420 | |||
* | Biote Corp. Class A | 323,717 | 2,418 | |||
* | Zevra Therapeutics Inc. | 491,488 | 2,408 | |||
*,1 | Coherus Biosciences Inc. | 1,386,562 | 2,399 | |||
*,1 | Capricor Therapeutics Inc. | 478,942 | 2,285 | |||
*,1 | Gyre Therapeutics Inc. | 191,550 | 2,285 | |||
*,1 | Contineum Therapeutics Inc. Class A | 125,423 | 2,209 | |||
* | TruBridge Inc. | 220,691 | 2,207 | |||
* | Rezolute Inc. | 512,314 | 2,203 | |||
* | Biodesix Inc. | 1,418,985 | 2,171 | |||
* | Tenaya Therapeutics Inc. | 691,525 | 2,144 | |||
* | ChromaDex Corp. | 776,070 | 2,119 | |||
*,1 | Verrica Pharmaceuticals Inc. | 289,249 | 2,109 | |||
*,1 | Acrivon Therapeutics Inc. | 361,347 | 2,096 | |||
*,1 | Outlook Therapeutics Inc. | 283,487 | 2,092 | |||
*,2 | PDL BioPharma Inc. | 1,757,467 | 2,091 | |||
*,1 | Immunic Inc. | 1,870,577 | 2,076 | |||
* | ACELYRIN Inc. | 462,489 | 2,040 | |||
* | Generation Bio Co. | 718,076 | 2,025 | |||
* | InfuSystem Holdings Inc. | 296,295 | 2,024 | |||
* | Caribou Biosciences Inc. | 1,231,510 | 2,020 | |||
* | Regulus Therapeutics Inc. | 1,130,792 | 2,018 | |||
*,1 | Century Therapeutics Inc. | 785,571 | 2,003 | |||
* | Skye Bioscience Inc. | 249,751 | 2,000 | |||
* | Rigel Pharmaceuticals Inc. | 242,738 | 1,995 | |||
* | ClearPoint Neuro Inc. | 369,676 | 1,993 | |||
* | CVRx Inc. | 165,802 | 1,988 | |||
* | Solid Biosciences Inc. | 350,452 | 1,987 | |||
*,1 | Atossa Therapeutics Inc. | 1,667,748 | 1,985 | |||
*,1 | Zomedica Corp. | 13,413,683 | 1,961 | |||
* | Adverum Biotechnologies Inc. | 285,796 | 1,961 | |||
* | Puma Biotechnology Inc. | 585,850 | 1,910 | |||
* | Lifecore Biomedical Inc. | 363,800 | 1,866 | |||
*,1 | 23andMe Holding Co. Class A | 4,664,470 | 1,825 | |||
*,1 | Butterfly Network Inc. | 2,165,218 | 1,821 | |||
*,1 | CervoMed Inc. | 105,600 | 1,808 | |||
*,1 | IGM Biosciences Inc. | 260,893 | 1,792 | |||
* | Aveanna Healthcare Holdings Inc. | 646,570 | 1,785 | |||
*,1 | Ventyx Biosciences Inc. | 762,828 | 1,762 | |||
*,1 | Kyverna Therapeutics Inc. | 232,962 | 1,747 | |||
* | Stereotaxis Inc. | 943,652 | 1,717 | |||
*,3 | Scilex Holding Co. (Acquired 1/23/23, Cost $5,738) | 970,179 | 1,685 | |||
* | Vaxart Inc. | 2,523,623 | 1,684 | |||
* | Vistagen Therapeutics Inc. | 483,663 | 1,683 | |||
*,1 | Zura Bio Ltd. Class A | 479,136 | 1,677 | |||
*,1 | T2 Biosystems Inc. | 311,439 | 1,663 | |||
* | Harvard Bioscience Inc. | 579,986 | 1,653 | |||
* | Sera Prognostics Inc. Class A | 279,223 | 1,653 | |||
* | Foghorn Therapeutics Inc. | 286,260 | 1,646 | |||
* | Trevi Therapeutics Inc. | 545,878 | 1,627 | |||
*,1 | Assertio Holdings Inc. | 1,307,570 | 1,621 | |||
*,1 | Biomea Fusion Inc. | 358,928 | 1,615 | |||
*,1 | Multiplan Corp. | 4,065,334 | 1,579 | |||
* | Nautilus Biotechnology Inc. Class A | 670,132 | 1,568 | |||
*,1 | Coya Therapeutics Inc. | 256,428 | 1,554 | |||
*,1 | Alto Neuroscience Inc. | 143,893 | 1,538 | |||
* | KORU Medical Systems Inc. | 579,541 | 1,536 | |||
*,1 | Cartesian Therapeutics Inc. | 56,534 | 1,527 | |||
*,1 | Waystar Holding Corp. | 70,998 | 1,526 | |||
*,1 | Galectin Therapeutics Inc. | 670,160 | 1,515 | |||
* | FONAR Corp. | 94,631 | 1,514 | |||
* | XBiotech Inc. | 292,547 | 1,504 | |||
* | Benitec Biopharma Inc. | 215,070 | 1,503 | |||
* | G1 Therapeutics Inc. | 658,535 | 1,501 | |||
* | Electromed Inc. | 98,146 | 1,475 | |||
*,1 | Inmune Bio Inc. | 165,874 | 1,463 | |||
*,1 | DIH Holdings US Inc. | 547,445 | 1,462 | |||
*,1 | Karyopharm Therapeutics Inc. | 1,642,989 | 1,425 |
Shares | Market Value• ($000) | |||||
*,1 | Cellectar Biosciences Inc. | 568,753 | 1,422 | |||
* | Inhibrx Biosciences Inc. | 99,212 | 1,406 | |||
*,1 | Aileron Therapeutics Inc. | 506,153 | 1,402 | |||
* | RAPT Therapeutics Inc. | 458,854 | 1,399 | |||
* | Compass Therapeutics Inc. | 1,376,010 | 1,376 | |||
*,1 | Candel Therapeutics Inc. | 220,073 | 1,364 | |||
*,1 | Elevation Oncology Inc. | 500,273 | 1,351 | |||
* | Quantum-Si Inc. | 1,276,774 | 1,341 | |||
* | Design Therapeutics Inc. | 399,505 | 1,338 | |||
*,1 | Cardiff Oncology Inc. | 600,175 | 1,332 | |||
*,1 | scPharmaceuticals Inc. | 305,088 | 1,327 | |||
* | Syros Pharmaceuticals Inc. | 255,422 | 1,318 | |||
* | American Well Corp. Class A | 4,031,177 | 1,309 | |||
* | Adicet Bio Inc. | 1,079,499 | 1,306 | |||
*,1 | PDS Biotechnology Corp. | 431,144 | 1,263 | |||
* | Innovage Holding Corp. | 253,304 | 1,256 | |||
*,1 | FibroGen Inc. | 1,380,877 | 1,232 | |||
*,1 | Greenwich Lifesciences Inc. | 71,311 | 1,231 | |||
* | aTyr Pharma Inc. | 787,409 | 1,228 | |||
*,1 | ProKidney Corp. Class A | 488,522 | 1,202 | |||
* | Athira Pharma Inc. | 452,018 | 1,198 | |||
*,1 | CytomX Therapeutics Inc. | 981,491 | 1,197 | |||
* | NeuroPace Inc. | 157,048 | 1,187 | |||
*,1 | Sanara Medtech Inc. | 41,331 | 1,166 | |||
* | Chimerix Inc. | 1,308,906 | 1,147 | |||
*,1 | Citius Pharmaceuticals Inc. | 1,957,895 | 1,143 | |||
* | Acumen Pharmaceuticals Inc. | 472,172 | 1,143 | |||
* | Amylyx Pharmaceuticals Inc. | 600,395 | 1,141 | |||
* | Asensus Surgical Inc. | 3,399,924 | 1,132 | |||
* | X4 Pharmaceuticals Inc. | 1,935,936 | 1,123 | |||
* | Kewaunee Scientific Corp. | 23,625 | 1,115 | |||
* | Sensus Healthcare Inc. | 207,423 | 1,106 | |||
* | Kodiak Sciences Inc. | 458,129 | 1,077 | |||
*,1 | Verastem Inc. | 360,608 | 1,075 | |||
* | Optinose Inc. | 1,032,248 | 1,074 | |||
* | Tela Bio Inc. | 226,799 | 1,066 | |||
* | Relmada Therapeutics Inc. | 353,625 | 1,061 | |||
*,1 | Seres Therapeutics Inc. | 1,449,776 | 1,049 | |||
* | Clearside Biomedical Inc. | 783,853 | 1,019 | |||
* | Eton Pharmaceuticals Inc. | 307,580 | 1,012 | |||
* | Allakos Inc. | 1,009,952 | 1,010 | |||
*,1 | Myomo Inc. | 309,360 | 993 | |||
* | Eledon Pharmaceuticals Inc. | 367,282 | 970 | |||
* | SCYNEXIS Inc. | 479,862 | 960 | |||
* | Werewolf Therapeutics Inc. | 392,161 | 957 | |||
* | Marinus Pharmaceuticals Inc. | 811,000 | 949 | |||
*,1 | Sagimet Biosciences Inc. Class A | 272,704 | 933 | |||
* | Anixa Biosciences Inc. | 420,658 | 930 | |||
* | Assembly Biosciences Inc. | 66,356 | 910 | |||
* | Aclaris Therapeutics Inc. | 820,732 | 903 | |||
*,1 | TriSalus Life Sciences Inc. | 162,125 | 895 | |||
* | Invivyd Inc. | 797,404 | 877 | |||
* | MediciNova Inc. | 607,734 | 875 | |||
* | PMV Pharmaceuticals Inc. | 540,351 | 875 | |||
* | Seer Inc. Class A | 517,365 | 869 | |||
* | Eliem Therapeutics Inc. | 119,083 | 847 | |||
* | Eagle Pharmaceuticals Inc. | 150,918 | 845 | |||
*,1 | CEL - SCI Corp. | 723,184 | 839 | |||
* | enVVeno Medical Corp. | 156,171 | 820 | |||
*,1 | Gritstone bio Inc. | 1,290,634 | 797 | |||
* | Prelude Therapeutics Inc. | 207,507 | 791 | |||
* | Elutia Inc. Class A | 158,176 | 785 | |||
* | Corvus Pharmaceuticals Inc. | 429,516 | 782 | |||
* | Spero Therapeutics Inc. | 587,342 | 764 | |||
* | ProPhase Labs Inc. | 181,391 | 758 | |||
* | BioAtla Inc. | 549,449 | 753 | |||
* | DiaMedica Therapeutics Inc. | 253,733 | 748 | |||
* | Mural Oncology plc | 236,779 | 743 | |||
*,1 | Cue Biopharma Inc. | 597,569 | 741 | |||
* | Tectonic Therapeutic Inc. | 44,790 | 738 |
Shares | Market Value• ($000) | |||||
* | Neuronetics Inc. | 403,878 | 727 | |||
* | Akoya Biosciences Inc. | 306,112 | 716 | |||
* | Kronos Bio Inc. | 559,541 | 694 | |||
*,1 | Sangamo Therapeutics Inc. | 1,916,027 | 687 | |||
* | Vigil Neuroscience Inc. | 170,238 | 681 | |||
* | Enzo Biochem Inc. | 618,881 | 675 | |||
*,1 | Rani Therapeutics Holdings Inc. Class A | 172,976 | 657 | |||
*,1 | Omega Therapeutics Inc. | 309,866 | 641 | |||
* | Personalis Inc. | 539,279 | 631 | |||
* | Ovid therapeutics Inc. | 819,585 | 630 | |||
*,1 | AirSculpt Technologies Inc. | 156,689 | 627 | |||
* | Rockwell Medical Inc. | 355,638 | 626 | |||
* | Cidara Therapeutics Inc. | 52,387 | 625 | |||
*,1 | Allovir Inc. | 858,612 | 621 | |||
* | Journey Medical Corp. | 109,083 | 615 | |||
* | Lipocine Inc. | 74,283 | 612 | |||
* | Forian Inc. | 229,226 | 607 | |||
* | LENSAR Inc. | 133,235 | 600 | |||
*,1 | SELLAS Life Sciences Group Inc. | 501,971 | 597 | |||
*,1 | Annovis Bio Inc. | 101,298 | 583 | |||
*,1 | Metagenomi Inc. | 141,338 | 577 | |||
*,1 | Hyperfine Inc. Class A | 667,271 | 567 | |||
*,1 | AN2 Therapeutics Inc. | 261,931 | 563 | |||
* | Curis Inc. | 81,339 | 561 | |||
* | Apyx Medical Corp. | 414,663 | 556 | |||
* | Co-Diagnostics Inc. | 444,776 | 556 | |||
*,1 | Genelux Corp. | 284,119 | 554 | |||
*,1 | Tempus AI Inc. Class A | 15,839 | 554 | |||
*,1 | Q32 Bio Inc. | 30,574 | 549 | |||
*,1 | ARCA biopharma Inc. | 141,432 | 542 | |||
* | Augmedix Inc. | 613,928 | 540 | |||
* | Ikena Oncology Inc. | 318,152 | 525 | |||
*,1 | Checkpoint Therapeutics Inc. | 242,152 | 521 | |||
*,1 | Carisma Therapeutics Inc. | 342,628 | 521 | |||
*,1 | Vor BioPharma Inc. | 519,630 | 520 | |||
* | Leap Therapeutics Inc. | 259,457 | 509 | |||
* | HeartBeam Inc. | 197,122 | 507 | |||
* | Inotiv Inc. | 297,324 | 494 | |||
*,1 | MAIA Biotechnology Inc. | 143,773 | 492 | |||
*,1 | Celularity Inc. Class A | 155,085 | 485 | |||
* | Marker Therapeutics Inc. | 87,137 | 473 | |||
* | Durect Corp. | 363,771 | 469 | |||
* | Lantern Pharma Inc. | 99,265 | 464 | |||
* | Atara Biotherapeutics Inc. | 54,473 | 463 | |||
* | Matinas BioPharma Holdings Inc. | 2,919,345 | 462 | |||
*,1 | Kezar Life Sciences Inc. | 764,730 | 459 | |||
* | Xtant Medical Holdings Inc. | 719,477 | 453 | |||
* | Alumis Inc. | 33,359 | 444 | |||
*,1 | Rapport Therapeutics Inc. | 19,045 | 443 | |||
* | Ocuphire Pharma Inc. | 288,947 | 442 | |||
* | Milestone Scientific Inc. | 644,906 | 441 | |||
* | Pro-Dex Inc. | 22,090 | 434 | |||
*,1 | Fractyl Health Inc. | 101,641 | 434 | |||
*,1 | DarioHealth Corp. | 355,607 | 423 | |||
* | Reneo Pharmaceuticals Inc. | 278,541 | 421 | |||
* | Instil Bio Inc. | 40,517 | 417 | |||
* | iCAD Inc. | 319,228 | 415 | |||
* | Hookipa Pharma Inc. | 698,430 | 413 | |||
*,1 | Reviva Pharmaceuticals Holdings Inc. | 312,304 | 400 | |||
* | CytoSorbents Corp. | 568,233 | 399 | |||
*,1 | IN8bio Inc. | 471,410 | 399 | |||
* | Vivani Medical Inc. | 314,417 | 396 | |||
* | Immix Biopharma Inc. | 199,247 | 394 | |||
* | Passage Bio Inc. | 493,230 | 392 | |||
*,1 | Cutera Inc. | 255,224 | 385 | |||
*,1 | Tempest Therapeutics Inc. | 174,007 | 381 | |||
* | Precision BioSciences Inc. | 39,093 | 380 | |||
* | VolitionRX Ltd. | 622,949 | 377 | |||
* | Bioxcel Therapeutics Inc. | 293,322 | 375 | |||
*,1 | Immuneering Corp. Class A | 289,196 | 370 |
Shares | Market Value• ($000) | |||||
* | ElectroCore Inc. | 57,506 | 370 | |||
* | Aadi Bioscience Inc. | 247,520 | 361 | |||
*,1 | Nuvectis Pharma Inc. | 57,030 | 361 | |||
* | Champions Oncology Inc. | 69,171 | 358 | |||
* | IRIDEX Corp. | 164,113 | 354 | |||
*,1 | Bionano Genomics Inc. | 505,292 | 343 | |||
* | AEON Biopharma Inc. | 320,899 | 337 | |||
*,1 | Aerovate Therapeutics Inc. | 202,519 | 336 | |||
*,1 | Rallybio Corp. | 248,743 | 333 | |||
* | Cognition Therapeutics Inc. | 200,577 | 333 | |||
*,1 | Acurx Pharmaceuticals Inc. | 145,537 | 327 | |||
* | ImmuCell Corp. | 66,638 | 323 | |||
* | NextCure Inc. | 201,978 | 321 | |||
* | Alpha Teknova Inc. | 233,250 | 320 | |||
* | Dare Bioscience Inc. | 947,802 | 319 | |||
* | CareCloud Inc. | 158,809 | 305 | |||
*,1 | Palatin Technologies Inc. | 154,449 | 301 | |||
*,1 | Protara Therapeutics Inc. | 140,668 | 293 | |||
* | Armata Pharmaceuticals Inc. | 106,021 | 292 | |||
* | Streamline Health Solutions Inc. | 630,999 | 291 | |||
* | IGC Pharma Inc. | 630,222 | 273 | |||
*,1 | Owlet Inc. | 65,981 | 272 | |||
* | Retractable Technologies Inc. | 246,784 | 267 | |||
*,1 | NanoViricides Inc. | 154,515 | 266 | |||
*,1 | Envoy Medical Inc. | 112,140 | 265 | |||
* | UNITY Biotechnology Inc. | 194,785 | 263 | |||
*,1 | Fortress Biotech Inc. | 152,474 | 261 | |||
*,1 | Lexaria Bioscience Corp. | 93,586 | 260 | |||
*,1 | NeueHealth Inc. | 47,738 | 260 | |||
* | American Shared Hospital Services | 81,025 | 259 | |||
*,1 | Quince Therapeutics Inc. | 345,527 | 259 | |||
* | Exagen Inc. | 141,951 | 258 | |||
*,1 | Eyenovia Inc. | 430,389 | 256 | |||
*,1 | Oncocyte Corp. | 84,999 | 251 | |||
*,1 | Bright Green Corp. | 968,476 | 245 | |||
* | Dyadic International Inc. | 161,079 | 238 | |||
*,1 | Clene Inc. | 669,545 | 238 | |||
* | Minerva Neurosciences Inc. | 74,257 | 237 | |||
* | Oncternal Therapeutics Inc. | 31,061 | 236 | |||
* | Nutriband Inc. | 43,268 | 234 | |||
* | AIM ImmunoTech Inc. | 620,229 | 231 | |||
MEI Pharma Inc. | 79,554 | 231 | ||||
* | Vincerx Pharma Inc. | 280,416 | 227 | |||
*,1 | Carmell Corp. | 168,369 | 224 | |||
*,1 | Femasys Inc. | 192,667 | 220 | |||
* | Turnstone Biologics Corp. | 83,400 | 218 | |||
*,1 | Biora Therapeutics Inc. | 325,296 | 215 | |||
*,1 | Conduit Pharmaceuticals Inc. | 202,934 | 215 | |||
* | Psychemedics Corp. | 85,868 | 208 | |||
*,1 | GlycoMimetics Inc. | 730,599 | 206 | |||
*,1 | Cyclo Therapeutics Inc. | 161,083 | 205 | |||
*,1 | Beyond Air Inc. | 374,314 | 201 | |||
* | Lisata Therapeutics Inc. | 57,596 | 200 | |||
* | Intensity Therapeutics Inc. | 40,587 | 199 | |||
* | Surrozen Inc. | 18,127 | 198 | |||
*,1 | TherapeuticsMD Inc. | 122,234 | 197 | |||
* | Oncology Institute Inc. | 422,983 | 195 | |||
* | Vicarious Surgical Inc. Class A | 32,755 | 192 | |||
*,1 | Ocean Biomedical Inc. | 156,202 | 191 | |||
* | Ekso Bionics Holdings Inc. | 179,455 | 189 | |||
*,1 | Unicycive Therapeutics Inc. | 373,220 | 187 | |||
* | KALA BIO Inc. | 26,296 | 186 | |||
* | Singular Genomics Systems Inc. | 21,637 | 183 | |||
* | Orgenesis Inc. | 300,957 | 181 | |||
* | Cocrystal Pharma Inc. | 76,721 | 179 | |||
*,1 | Gain Therapeutics Inc. | 135,702 | 174 | |||
* | Equillium Inc. | 247,430 | 172 | |||
* | Elicio Therapeutics Inc. | 41,045 | 169 | |||
* | Cara Therapeutics Inc. | 645,753 | 167 | |||
*,1 | NeuroOne Medical Technologies Corp. | 207,077 | 166 |
Shares | Market Value• ($000) | |||||
*,1 | JanOne Inc. | 73,304 | 164 | |||
* | Cryo-Cell International Inc. | 21,237 | 162 | |||
1 | TRxADE HEALTH Inc. | 14,548 | 162 | |||
* | P3 Health Partners Inc. | 355,045 | 160 | |||
*,1 | Lucid Diagnostics Inc. | 193,991 | 159 | |||
* | Bolt Biotherapeutics Inc. | 205,537 | 154 | |||
* | Viracta Therapeutics Inc. | 282,488 | 154 | |||
* | Xilio Therapeutics Inc. | 160,024 | 152 | |||
* | PharmaCyte Biotech Inc. | 74,919 | 147 | |||
* | Dominari Holdings Inc. | 77,916 | 146 | |||
* | Traws Pharma Inc. | 321,970 | 144 | |||
*,1 | Alaunos Therapeutics Inc. | 204,718 | 143 | |||
*,1 | Cosmos Health Inc. | 134,834 | 140 | |||
* | Modular Medical Inc. | 88,224 | 139 | |||
* | BrainStorm Cell Therapeutics Inc. | 401,014 | 136 | |||
*,1 | VYNE Therapeutics Inc. | 69,195 | 136 | |||
*,1 | NeuroBo Pharmaceuticals Inc. | 28,020 | 136 | |||
* | vTv Therapeutics Inc. Class A | 7,654 | 135 | |||
* | SAB Biotherapeutics Inc. | 42,636 | 132 | |||
* | Cumberland Pharmaceuticals Inc. | 84,244 | 129 | |||
*,1 | Avalo Therapeutics Inc. | 10,368 | 129 | |||
*,1 | Cardio Diagnostics Holdings Inc. | 232,139 | 128 | |||
* | Lyra Therapeutics Inc. | 455,832 | 126 | |||
*,1 | Novo Integrated Sciences Inc. | 163,777 | 123 | |||
*,1 | Nutex Health Inc. | 207,288 | 123 | |||
*,1 | VBI Vaccines Inc. | 184,436 | 122 | |||
* | Lumos Pharma Inc. | 50,828 | 118 | |||
* | Aprea Therapeutics Inc. | 28,562 | 116 | |||
*,1 | Aspira Women's Health Inc. | 77,703 | 116 | |||
*,1 | NRX Pharmaceuticals Inc. | 46,893 | 114 | |||
* | Talis Biomedical Corp. | 12,746 | 112 | |||
*,1 | Microbot Medical Inc. | 108,034 | 110 | |||
* | Pieris Pharmaceuticals Inc. | 11,069 | 109 | |||
*,1 | Spectral AI Inc. | 61,531 | 108 | |||
*,1 | Senti Biosciences Inc. Class A | 386,899 | 107 | |||
*,1 | SeaStar Medical Holding Corp. | 14,037 | 107 | |||
*,1 | Accelerate Diagnostics Inc. | 90,274 | 106 | |||
* | Moleculin Biotech Inc. | 30,314 | 106 | |||
* | CalciMedica Inc. | 26,618 | 105 | |||
*,1 | Know Labs Inc. | 255,439 | 105 | |||
* | Spruce Biosciences Inc. | 197,187 | 102 | |||
* | Galecto Inc. | 212,689 | 101 | |||
*,1 | Aligos Therapeutics Inc. | 275,481 | 96 | |||
*,1 | CareMax Inc. | 34,292 | 96 | |||
* | Serina Therapeutics Inc. (XASE) | 9,647 | 92 | |||
* | Anebulo Pharmaceuticals Inc. | 32,873 | 90 | |||
*,1 | Biotricity Inc. | 99,728 | 90 | |||
* | Precipio Inc. | 17,645 | 90 | |||
* | Organovo Holdings Inc. | 114,640 | 87 | |||
*,1 | bioAffinity Technologies Inc. | 39,767 | 86 | |||
* | Star Equity Holdings Inc. | 18,654 | 85 | |||
* | MiNK Therapeutics Inc. | 85,953 | 82 | |||
* | Aytu BioPharma Inc. | 27,888 | 81 | |||
* | Forte Biosciences Inc. | 149,484 | 80 | |||
* | Rapid Micro Biosystems Inc. Class A | 116,325 | 77 | |||
*,1 | iBio Inc. | 35,998 | 76 | |||
* | Biomerica Inc. | 169,010 | 74 | |||
*,1 | Predictive Oncology Inc. | 69,881 | 73 | |||
* | Talphera Inc. | 81,358 | 72 | |||
* | Boundless Bio Inc. | 18,601 | 72 | |||
* | Strata Skin Sciences Inc. | 23,545 | 72 | |||
* | ATI Physical Therapy Inc. | 15,662 | 70 | |||
* | Pulmatrix Inc. | 35,082 | 68 | |||
*,1 | Creative Medical Technology Holdings Inc. | 17,629 | 68 | |||
* | Edesa Biotech Inc. | 15,702 | 68 | |||
*,1 | NKGen Biotech Inc. | 53,804 | 68 | |||
*,1 | SunLink Health Systems Inc. | 83,942 | 67 | |||
* | PAVmed Inc. | 79,689 | 65 | |||
* | RenovoRx Inc. | 56,737 | 64 | |||
* | Precision Optics Corp. Inc. | 10,928 | 64 |
Shares | Market Value• ($000) | |||||
* | Synlogic Inc. | 42,476 | 64 | |||
* | Sensei Biotherapeutics Inc. | 99,616 | 62 | |||
*,1 | iCoreConnect Inc. | 66,877 | 62 | |||
*,1 | GeoVax Labs Inc. | 19,239 | 61 | |||
*,1 | BioVie Inc. | 147,637 | 59 | |||
* | Indaptus Therapeutics Inc. | 27,068 | 57 | |||
* | Imunon Inc. | 48,806 | 57 | |||
*,1 | Molecular Templates Inc. | 49,888 | 57 | |||
*,1 | NeuroMetrix Inc. | 15,124 | 56 | |||
*,1 | AquaBounty Technologies Inc. | 34,020 | 56 | |||
* | Nexgel Inc. | 25,526 | 55 | |||
*,1 | Processa Pharmaceuticals Inc. | 24,433 | 55 | |||
* | Cyclerion Therapeutics Inc. | 23,490 | 54 | |||
*,1 | Nexalin Technology Inc. | 31,780 | 54 | |||
* | Hepion Pharmaceuticals Inc. | 48,908 | 53 | |||
*,1 | Bullfrog AI Holdings Inc. | 28,800 | 50 | |||
*,1 | Neuraxis Inc. | 17,745 | 49 | |||
*,1 | Plus Therapeutics Inc. | 32,541 | 48 | |||
*,1 | Eterna Therapeutics Inc. | 26,099 | 47 | |||
*,1 | INVO BioScience Inc. | 54,058 | 47 | |||
*,1 | Syra Health Corp. Class A | 34,247 | 47 | |||
*,1 | Theriva Biologics Inc. | 194,494 | 46 | |||
*,1 | Virios Therapeutics Inc. | 208,883 | 45 | |||
*,1 | Akili Inc. Class A | 101,371 | 44 | |||
* | Avinger Inc. | 23,802 | 44 | |||
*,1 | OneMedNet Corp. | 44,500 | 44 | |||
* | BioRestorative Therapies Inc. | 20,472 | 42 | |||
* | Xenetic Biosciences Inc. | 9,797 | 41 | |||
*,1 | BioCardia Inc. | 12,616 | 37 | |||
*,1 | Jaguar Health Inc. | 10,360 | 37 | |||
* | Hoth Therapeutics Inc. | 38,804 | 36 | |||
*,1 | ABVC BioPharma Inc. | 46,947 | 36 | |||
*,1 | Regional Health Properties Inc. | 16,970 | 35 | |||
*,1 | Mustang Bio Inc. | 73,419 | 35 | |||
*,1 | Monopar Therapeutics Inc. | 45,167 | 34 | |||
*,1 | NexImmune Inc. | 12,010 | 33 | |||
* | Alzamend Neuro Inc. | 78,545 | 32 | |||
*,1 | Kineta Inc. | 59,326 | 31 | |||
*,1 | Intelligent Bio Solutions Inc. | 15,485 | 30 | |||
* | GT Biopharma Inc. | 10,504 | 30 | |||
* | Coeptis Therapeutics Holdings | 100,759 | 29 | |||
* | Protagenic Therapeutics Inc. | 31,996 | 29 | |||
*,1 | Genprex Inc. | 14,975 | 28 | |||
*,1 | Bio-Path Holdings Inc. | 13,502 | 27 | |||
*,1 | Venus Concept Inc. | 32,438 | 25 | |||
*,1 | MyMD Pharmaceuticals Inc. | 13,689 | 25 | |||
* | HCW Biologics Inc. | 37,677 | 24 | |||
*,1 | Innovative Eyewear Inc. | 47,233 | 23 | |||
*,1 | Vivos Therapeutics Inc. | 10,579 | 23 | |||
*,1 | Titan Pharmaceuticals Inc. | 4,103 | 23 | |||
*,1 | Inhibikase Therapeutics Inc. | 16,724 | 22 | |||
*,1 | Telesis Bio Inc. | 6,155 | 22 | |||
*,1 | NanoVibronix Inc. | 30,194 | 21 | |||
* | Tracon Pharmaceuticals Inc. | 13,139 | 21 | |||
*,1 | Palisade Bio Inc. | 4,536 | 21 | |||
*,1 | MSP Recovery Inc. | 43,697 | 20 | |||
*,1 | TFF Pharmaceuticals Inc. | 11,762 | 20 | |||
*,1 | Tivic Health Systems Inc. | 47,981 | 19 | |||
*,1 | Phio Pharmaceuticals Corp. | 24,380 | 17 | |||
* | Evoke Pharma Inc. | 29,851 | 16 | |||
*,1 | Trevena Inc. | 72,355 | 16 | |||
* | Lipella Pharmaceuticals Inc. | 34,520 | 16 | |||
*,1 | Silo Pharma Inc. | 16,334 | 16 | |||
* | Petros Pharmaceuticals Inc. | 31,811 | 15 | |||
*,1,2 | Aceragen Inc. | 39,478 | 15 | |||
*,1 | Tenon Medical Inc. | 23,854 | 15 | |||
*,1 | Sonnet BioTherapeutics Holdings Inc. | 14,726 | 14 | |||
*,1 | OpGen Inc. | 5,328 | 14 | |||
* | Exicure Inc. | 40,093 | 13 | |||
*,1 | Onconetix Inc. | 73,513 | 12 |
Shares | Market Value• ($000) | |||||
*,1 | Lixte Biotechnology Holdings Inc. | 5,209 | 12 | |||
* | LogicMark Inc. | 18,939 | 12 | |||
*,1 | Helius Medical Technologies Inc. Class A | 12,598 | 12 | |||
*,1 | SCWorx Corp. | 6,922 | 12 | |||
*,1 | iSpecimen Inc. | 35,987 | 11 | |||
*,1 | Enveric Biosciences Inc. | 18,198 | 11 | |||
*,1 | Adial Pharmaceuticals Inc. | 9,359 | 11 | |||
*,1 | Imac Holdings Inc. | 5,133 | 11 | |||
*,1 | Aethlon Medical Inc. | 21,224 | 11 | |||
*,2 | Impact BioMedical Inc. (Registered) | 1,738,388 | 11 | |||
* | Kiora Pharmaceuticals Inc. | 2,729 | 11 | |||
*,1 | Synaptogenix Inc. | 2,740 | 11 | |||
* | ReShape Lifesciences Inc. | 49,874 | 10 | |||
* | Longeveron Inc. Class A | 6,509 | 10 | |||
*,1 | Heart Test Laboratories Inc. | 1,916 | 10 | |||
* | Oragenics Inc. | 8,866 | 9 | |||
*,1 | Ensysce Biosciences Inc. | 18,175 | 9 | |||
*,1 | Assure Holdings Corp. | 20,753 | 9 | |||
* | Cyclacel Pharmaceuticals Inc. | 5,796 | 9 | |||
*,1 | cbdMD Inc. | 13,042 | 8 | |||
*,1 | Biofrontera Inc. | 8,611 | 8 | |||
* | Soligenix Inc. | 3,180 | 8 | |||
*,2 | NeuBase Therapeutics Inc. | 18,981 | 7 | |||
*,1 | eFFECTOR Therapeutics Inc. | 25,070 | 7 | |||
* | Tenax Therapeutics Inc. | 2,326 | 7 | |||
*,1 | Windtree Therapeutics Inc. | 2,314 | 7 | |||
*,1 | Nuwellis Inc. | 1,427 | 7 | |||
*,1 | Aditxt Inc. | 4,566 | 6 | |||
* | Entero Therapeutics Inc. | 4,535 | 6 | |||
* | Vaccinex Inc. | 900 | 6 | |||
*,1 | Healthcare Triangle Inc. | 8,801 | 5 | |||
*,1 | Tonix Pharmaceuticals Holding Corp. | 7,299 | 5 | |||
*,1 | Qualigen Therapeutics Inc. | 22,827 | 4 | |||
*,1 | ENDRA Life Sciences Inc. | 39,812 | 4 | |||
* | Dynatronics Corp. | 16,074 | 4 | |||
*,1 | Ontrak Inc. | 20,311 | 4 | |||
*,1 | Estrella Immunopharma Inc. | 3,716 | 4 | |||
*,1 | 180 Life Sciences Corp. | 2,521 | 4 | |||
*,1 | Applied DNA Sciences Inc. | 8,677 | 4 | |||
*,1 | Seelos Therapeutics Inc. | 6,997 | 4 | |||
*,1 | Salarius Pharmaceuticals Inc. | 1,820 | 4 | |||
*,1 | Kintara Therapeutics Inc. | 12,455 | 3 | |||
*,1 | Calidi Biotherapeutics Inc. | 14,939 | 3 | |||
*,1 | Virpax Pharmaceuticals Inc. | 6,629 | 3 | |||
*,1 | Sharps Technology Inc. | 9,956 | 2 | |||
* | Ainos Inc. | 1,966 | 2 | |||
*,1 | Cingulate Inc. | 6,351 | 2 | |||
* | 60 Degrees Pharmaceuticals Inc. | 7,048 | 2 | |||
* | Autonomix Medical Inc. | 1,640 | 2 | |||
*,1 | CNS Pharmaceuticals Inc. | 1,168 | 2 | |||
*,1 | Avenue Therapeutics Inc. | 678 | 2 | |||
* | Sonoma Pharmaceuticals Inc. | 3,818 | 1 | |||
*,1 | Aptevo Therapeutics Inc. | 2,084 | 1 | |||
*,1 | NovaBay Pharmaceuticals Inc. | 392 | 1 | |||
*,1 | SiNtx Technologies Inc. | 218 | 1 | |||
*,1,2 | Aravive Inc. | 149,018 | — | |||
*,2 | OmniAb Inc. 12.5 Earnout | 83,004 | — | |||
*,2 | OmniAb Inc. 15 Earnout | 83,004 | — | |||
*,2 | MYOS Corp. | 20,700 | — | |||
*,1,2 | MYOS Corp. (Registered) | 48,410 | — | |||
* | Cadrenal Therapeutics Inc. | 905 | — | |||
* | Revelation Biosciences Inc. | 201 | — | |||
* | Tharimmune Inc. | 29 | — | |||
*,1 | ZyVersa Therapeutics Inc. | 50 | — | |||
* | Bluejay Diagnostics Inc. | 98 | — | |||
*,1 | GRI Bio Inc. | 203 | — | |||
11,963,877 | ||||||
Industrials (17.9%) | ||||||
Ferguson plc | 3,063,702 | 593,286 |
Shares | Market Value• ($000) | |||||
Vertiv Holdings Co. Class A | 5,223,608 | 452,208 | ||||
Booz Allen Hamilton Holding Corp. Class A | 1,963,421 | 302,170 | ||||
Carlisle Cos. Inc. | 720,482 | 291,946 | ||||
Lennox International Inc. | 486,698 | 260,374 | ||||
EMCOR Group Inc. | 712,000 | 259,937 | ||||
Owens Corning | 1,315,249 | 228,485 | ||||
Watsco Inc. | 484,918 | 224,633 | ||||
TransUnion | 2,938,800 | 217,941 | ||||
RB Global Inc. | 2,785,540 | 212,704 | ||||
SS&C Technologies Holdings Inc. | 3,257,731 | 204,162 | ||||
Graco Inc. | 2,566,292 | 203,456 | ||||
nVent Electric plc | 2,517,700 | 192,881 | ||||
* | Saia Inc. | 403,427 | 191,341 | |||
* | XPO Inc. | 1,761,626 | 186,997 | |||
AECOM | 2,059,001 | 181,480 | ||||
HEICO Corp. | 798,802 | 178,620 | ||||
* | Clean Harbors Inc. | 760,458 | 171,978 | |||
Advanced Drainage Systems Inc. | 1,033,948 | 165,835 | ||||
Tetra Tech Inc. | 809,469 | 165,520 | ||||
Comfort Systems USA Inc. | 539,840 | 164,176 | ||||
Lincoln Electric Holdings Inc. | 861,778 | 162,566 | ||||
ITT Inc. | 1,245,814 | 160,934 | ||||
Woodward Inc. | 922,827 | 160,923 | ||||
HEICO Corp. Class A | 904,921 | 160,642 | ||||
FTAI Aviation Ltd. | 1,521,073 | 157,020 | ||||
Curtiss-Wright Corp. | 578,071 | 156,646 | ||||
Toro Co. | 1,585,890 | 148,297 | ||||
* | CACI International Inc. Class A | 338,216 | 145,477 | |||
CNH Industrial NV | 13,900,235 | 140,809 | ||||
Regal Rexnord Corp. | 1,011,254 | 136,742 | ||||
* | API Group Corp. | 3,612,294 | 135,931 | |||
BWX Technologies Inc. | 1,387,566 | 131,819 | ||||
KBR Inc. | 2,049,442 | 131,451 | ||||
Donaldson Co. Inc. | 1,826,495 | 130,704 | ||||
* | Core & Main Inc. Class A | 2,593,472 | 126,925 | |||
Fortune Brands Innovations Inc. | 1,894,877 | 123,053 | ||||
Knight-Swift Transportation Holdings Inc. Class A | 2,449,642 | 122,286 | ||||
* | Trex Co. Inc. | 1,645,833 | 121,989 | |||
* | RBC Bearings Inc. | 441,929 | 119,224 | |||
* | FTI Consulting Inc. | 534,133 | 115,122 | |||
Applied Industrial Technologies Inc. | 586,711 | 113,822 | ||||
* | Fluor Corp. | 2,596,369 | 113,072 | |||
Acuity Brands Inc. | 462,481 | 111,661 | ||||
* | WillScot Mobile Mini Holdings Corp. | 2,883,091 | 108,520 | |||
Crane Co. | 747,600 | 108,387 | ||||
Simpson Manufacturing Co. Inc. | 642,507 | 108,282 | ||||
Oshkosh Corp. | 988,719 | 106,979 | ||||
* | Kirby Corp. | 885,049 | 105,967 | |||
MSA Safety Inc. | 562,288 | 105,536 | ||||
UFP Industries Inc. | 937,061 | 104,951 | ||||
WESCO International Inc. | 661,753 | 104,901 | ||||
Allison Transmission Holdings Inc. | 1,321,238 | 100,282 | ||||
* | Middleby Corp. | 815,883 | 100,035 | |||
Landstar System Inc. | 540,399 | 99,693 | ||||
Robert Half Inc. | 1,555,990 | 99,552 | ||||
* | SPX Technologies Inc. | 698,623 | 99,302 | |||
* | MasTec Inc. | 922,241 | 98,671 | |||
Mueller Industries Inc. | 1,723,843 | 98,156 | ||||
Flowserve Corp. | 1,998,402 | 96,123 | ||||
* | AZEK Co. Inc. Class A | 2,210,733 | 93,138 | |||
* | Chart Industries Inc. | 639,311 | 92,278 | |||
AGCO Corp. | 936,709 | 91,685 | ||||
Science Applications International Corp. | 778,094 | 91,465 | ||||
* | GXO Logistics Inc. | 1,810,734 | 91,442 | |||
AAON Inc. | 1,033,296 | 90,145 | ||||
U-Haul Holding Co. (XNYS) | 1,459,000 | 87,569 | ||||
* | NEXTracker Inc. Class A | 1,865,491 | 87,454 | |||
* | Beacon Roofing Supply Inc. | 966,043 | 87,427 | |||
* | Paylocity Holding Corp. | 661,071 | 87,162 | |||
* | Casella Waste Systems Inc. Class A | 866,007 | 85,925 |
Shares | Market Value• ($000) | |||||
Sensata Technologies Holding plc | 2,294,321 | 85,785 | ||||
Valmont Industries Inc. | 305,142 | 83,746 | ||||
* | SiteOne Landscape Supply Inc. | 687,331 | 83,449 | |||
Ryder System Inc. | 661,920 | 81,999 | ||||
* | Stericycle Inc. | 1,403,811 | 81,604 | |||
Esab Corp. | 859,261 | 81,140 | ||||
Genpact Ltd. | 2,507,022 | 80,701 | ||||
Maximus Inc. | 923,055 | 79,106 | ||||
Hexcel Corp. | 1,264,136 | 78,945 | ||||
Timken Co. | 983,112 | 78,777 | ||||
* | ExlService Holdings Inc. | 2,480,634 | 77,793 | |||
Federal Signal Corp. | 926,278 | 77,502 | ||||
* | AeroVironment Inc. | 425,020 | 77,422 | |||
* | Alaska Air Group Inc. | 1,912,808 | 77,277 | |||
MDU Resources Group Inc. | 3,074,693 | 77,175 | ||||
Watts Water Technologies Inc. Class A | 415,906 | 76,265 | ||||
* | Lyft Inc. Class A | 5,370,690 | 75,727 | |||
Armstrong World Industries Inc. | 668,193 | 75,666 | ||||
Atkore Inc. | 552,322 | 74,525 | ||||
* | Dycom Industries Inc. | 440,938 | 74,413 | |||
Air Lease Corp. Class A | 1,561,909 | 74,238 | ||||
Exponent Inc. | 770,030 | 73,245 | ||||
Moog Inc. Class A | 436,485 | 73,024 | ||||
GATX Corp. | 539,951 | 71,468 | ||||
Boise Cascade Co. | 598,890 | 71,400 | ||||
Encore Wire Corp. | 238,997 | 69,268 | ||||
* | Verra Mobility Corp. Class A | 2,519,080 | 68,519 | |||
Brink's Co. | 667,267 | 68,328 | ||||
Matson Inc. | 519,086 | 67,985 | ||||
Zurn Elkay Water Solutions Corp. | 2,150,215 | 63,216 | ||||
EnerSys | 610,389 | 63,187 | ||||
CSW Industrials Inc. | 235,418 | 62,459 | ||||
Arcosa Inc. | 734,999 | 61,306 | ||||
Franklin Electric Co. Inc. | 600,939 | 57,882 | ||||
* | Spirit AeroSystems Holdings Inc. Class A | 1,753,428 | 57,635 | |||
Herc Holdings Inc. | 426,084 | 56,793 | ||||
* | CBIZ Inc. | 746,149 | 55,290 | |||
Terex Corp. | 1,006,801 | 55,213 | ||||
* | Sterling Infrastructure Inc. | 465,174 | 55,049 | |||
MSC Industrial Direct Co. Inc. Class A | 686,728 | 54,464 | ||||
Korn Ferry | 787,442 | 52,869 | ||||
* | Parsons Corp. | 631,778 | 51,686 | |||
Kadant Inc. | 175,544 | 51,571 | ||||
ManpowerGroup Inc. | 718,907 | 50,180 | ||||
Insperity Inc. | 548,370 | 50,017 | ||||
* | SkyWest Inc. | 603,024 | 49,490 | |||
ABM Industries Inc. | 967,396 | 48,921 | ||||
* | GMS Inc. | 596,619 | 48,093 | |||
* | RXO Inc. | 1,815,948 | 47,487 | |||
TriNet Group Inc. | 472,904 | 47,290 | ||||
Enpro Inc. | 313,368 | 45,617 | ||||
John Bean Technologies Corp. | 478,526 | 45,446 | ||||
* | Kratos Defense & Security Solutions Inc. | 2,259,281 | 45,208 | |||
* | Gates Industrial Corp. plc | 2,853,925 | 45,121 | |||
* | Alight Inc. Class A | 6,109,415 | 45,087 | |||
Concentrix Corp. | 705,357 | 44,635 | ||||
Brady Corp. Class A | 669,836 | 44,223 | ||||
* | Resideo Technologies Inc. | 2,181,549 | 42,671 | |||
Hillenbrand Inc. | 1,051,405 | 42,077 | ||||
Granite Construction Inc. | 678,545 | 42,049 | ||||
Mueller Water Products Inc. Class A | 2,326,035 | 41,683 | ||||
Primoris Services Corp. | 825,925 | 41,205 | ||||
* | ACV Auctions Inc. Class A | 2,251,330 | 41,087 | |||
ESCO Technologies Inc. | 386,117 | 40,558 | ||||
* | Sunrun Inc. | 3,378,449 | 40,068 | |||
*,1 | Bloom Energy Corp. Class A | 3,266,821 | 39,986 | |||
Hub Group Inc. Class A | 928,005 | 39,951 | ||||
Albany International Corp. Class A | 463,929 | 39,179 | ||||
Rush Enterprises Inc. Class A | 933,408 | 39,082 | ||||
McGrath RentCorp | 366,487 | 39,049 |
Shares | Market Value• ($000) | |||||
UniFirst Corp. | 223,885 | 38,403 | ||||
ICF International Inc. | 257,382 | 38,211 | ||||
* | Clarivate plc | 6,705,434 | 38,154 | |||
Trinity Industries Inc. | 1,267,441 | 37,922 | ||||
ArcBest Corp. | 352,285 | 37,723 | ||||
* | Atmus Filtration Technologies Inc. | 1,285,584 | 36,999 | |||
* | Construction Partners Inc. Class A | 657,404 | 36,295 | |||
Griffon Corp. | 563,876 | 36,009 | ||||
* | AAR Corp. | 491,327 | 35,719 | |||
* | MYR Group Inc. | 259,349 | 35,196 | |||
Werner Enterprises Inc. | 978,786 | 35,070 | ||||
AZZ Inc. | 450,408 | 34,794 | ||||
*,1 | Enovix Corp. | 2,170,504 | 33,556 | |||
Dun & Bradstreet Holdings Inc. | 3,587,632 | 33,221 | ||||
Barnes Group Inc. | 786,099 | 32,552 | ||||
* | Gibraltar Industries Inc. | 472,297 | 32,376 | |||
HNI Corp. | 717,824 | 32,316 | ||||
* | JetBlue Airways Corp. | 5,177,937 | 31,534 | |||
Enerpac Tool Group Corp. Class A | 813,571 | 31,062 | ||||
*,1 | Joby Aviation Inc. | 5,727,350 | 29,209 | |||
* | GEO Group Inc. | 2,032,098 | 29,181 | |||
Avis Budget Group Inc. | 272,304 | 28,461 | ||||
MillerKnoll Inc. | 1,073,494 | 28,437 | ||||
Tennant Co. | 288,838 | 28,433 | ||||
Standex International Corp. | 175,801 | 28,330 | ||||
* | Leonardo DRS Inc. | 1,107,463 | 28,251 | |||
* | OPENLANE Inc. | 1,679,995 | 27,871 | |||
Alamo Group Inc. | 160,775 | 27,814 | ||||
* | Masterbrand Inc. | 1,891,185 | 27,763 | |||
Kennametal Inc. | 1,165,422 | 27,434 | ||||
* | Hillman Solutions Corp. | 3,048,592 | 26,980 | |||
* | Huron Consulting Group Inc. | 263,695 | 25,974 | |||
Vestis Corp. | 2,036,022 | 24,901 | ||||
UL Solutions Inc. Class A | 588,661 | 24,836 | ||||
Helios Technologies Inc. | 515,821 | 24,630 | ||||
Greenbrier Cos. Inc. | 486,586 | 24,110 | ||||
* | Hayward Holdings Inc. | 1,959,972 | 24,108 | |||
*,1 | Plug Power Inc. | 10,201,920 | 23,770 | |||
* | DNOW Inc. | 1,651,463 | 22,675 | |||
* | Array Technologies Inc. | 2,203,346 | 22,606 | |||
* | Cimpress plc | 258,022 | 22,605 | |||
* | Mercury Systems Inc. | 810,111 | 21,865 | |||
H&E Equipment Services Inc. | 487,428 | 21,530 | ||||
* | CoreCivic Inc. | 1,645,295 | 21,356 | |||
* | Montrose Environmental Group Inc. | 478,886 | 21,339 | |||
VSE Corp. | 240,710 | 21,250 | ||||
Lindsay Corp. | 171,730 | 21,102 | ||||
Powell Industries Inc. | 143,121 | 20,524 | ||||
Apogee Enterprises Inc. | 326,558 | 20,519 | ||||
*,1 | Rocket Lab USA Inc. | 4,072,823 | 19,550 | |||
* | Upwork Inc. | 1,789,624 | 19,238 | |||
Steelcase Inc. Class A | 1,445,451 | 18,733 | ||||
* | Triumph Group Inc. | 1,206,168 | 18,587 | |||
*,1 | Symbotic Inc. Class A | 521,737 | 18,344 | |||
* | NV5 Global Inc. | 196,912 | 18,307 | |||
* | American Woodmark Corp. | 232,884 | 18,305 | |||
CSG Systems International Inc. | 439,924 | 18,112 | ||||
CRA International Inc. | 104,373 | 17,975 | ||||
* | JELD-WEN Holding Inc. | 1,330,994 | 17,928 | |||
* | Janus International Group Inc. | 1,416,152 | 17,886 | |||
* | IES Holdings Inc. | 128,298 | 17,876 | |||
* | MRC Global Inc. | 1,323,437 | 17,086 | |||
Kforce Inc. | 269,998 | 16,775 | ||||
Marten Transport Ltd. | 903,523 | 16,670 | ||||
* | Shoals Technologies Group Inc. Class A | 2,643,312 | 16,494 | |||
* | Transcat Inc. | 137,441 | 16,449 | |||
1 | Tecnoglass Inc. | 318,765 | 15,996 | |||
*,1 | Fluence Energy Inc. | 907,803 | 15,741 | |||
Deluxe Corp. | 697,355 | 15,663 | ||||
Wabash National Corp. | 712,457 | 15,560 |
Shares | Market Value• ($000) | |||||
* | Legalzoom.com Inc. | 1,843,727 | 15,469 | |||
* | Thermon Group Holdings Inc. | 487,266 | 14,988 | |||
REV Group Inc. | 600,910 | 14,957 | ||||
* | Tutor Perini Corp. | 680,289 | 14,817 | |||
* | Ameresco Inc. Class A | 507,684 | 14,626 | |||
* | Blue Bird Corp. | 269,048 | 14,488 | |||
Argan Inc. | 196,655 | 14,387 | ||||
Columbus McKinnon Corp. | 414,948 | 14,332 | ||||
Gorman-Rupp Co. | 389,137 | 14,285 | ||||
Quanex Building Products Corp. | 512,190 | 14,162 | ||||
Genco Shipping & Trading Ltd. | 659,244 | 14,048 | ||||
Schneider National Inc. Class B | 579,249 | 13,995 | ||||
Interface Inc. Class A | 935,080 | 13,727 | ||||
* | CECO Environmental Corp. | 472,275 | 13,625 | |||
* | American Superconductor Corp. | 574,741 | 13,443 | |||
FTAI Infrastructure Inc. | 1,547,751 | 13,357 | ||||
Barrett Business Services Inc. | 400,956 | 13,139 | ||||
* | Paycor HCM Inc. | 1,009,880 | 12,825 | |||
* | Ducommun Inc. | 219,139 | 12,723 | |||
Pitney Bowes Inc. | 2,496,887 | 12,684 | ||||
* | BlueLinx Holdings Inc. | 135,307 | 12,596 | |||
First Advantage Corp. | 783,299 | 12,588 | ||||
* | Proto Labs Inc. | 406,177 | 12,547 | |||
* | Healthcare Services Group Inc. | 1,180,396 | 12,489 | |||
Matthews International Corp. Class A | 479,983 | 12,024 | ||||
* | Driven Brands Holdings Inc. | 943,378 | 12,009 | |||
Hyster-Yale Inc. | 171,173 | 11,936 | ||||
*,1 | Archer Aviation Inc. Class A | 3,380,895 | 11,901 | |||
* | Energy Recovery Inc. | 882,035 | 11,722 | |||
* | Vicor Corp. | 352,520 | 11,690 | |||
* | BrightView Holdings Inc. | 878,069 | 11,678 | |||
* | Viad Corp. | 338,066 | 11,494 | |||
Allegiant Travel Co. | 221,734 | 11,138 | ||||
* | Enviri Corp. | 1,284,829 | 11,088 | |||
* | Air Transport Services Group Inc. | 789,993 | 10,957 | |||
* | U-Haul Holding Co. | 176,801 | 10,914 | |||
*,1 | NuScale Power Corp. Class A | 922,411 | 10,783 | |||
Kelly Services Inc. Class A | 495,086 | 10,600 | ||||
Astec Industries Inc. | 355,806 | 10,553 | ||||
* | Hawaiian Holdings Inc. | 828,692 | 10,301 | |||
Heidrick & Struggles International Inc. | 319,715 | 10,097 | ||||
Miller Industries Inc. | 178,641 | 9,829 | ||||
* | DXP Enterprises Inc. | 208,420 | 9,554 | |||
*,1 | Loar Holdings Inc. | 176,593 | 9,432 | |||
Cadre Holdings Inc. | 279,129 | 9,368 | ||||
* | Great Lakes Dredge & Dock Corp. | 1,057,280 | 9,283 | |||
Insteel Industries Inc. | 299,108 | 9,260 | ||||
1 | Forward Air Corp. | 485,481 | 9,244 | |||
* | Astronics Corp. | 451,951 | 9,053 | |||
* | Limbach Holdings Inc. | 155,476 | 8,851 | |||
Heartland Express Inc. | 714,112 | 8,805 | ||||
* | V2X Inc. | 183,413 | 8,796 | |||
*,1 | ChargePoint Holdings Inc. | 5,762,789 | 8,702 | |||
Douglas Dynamics Inc. | 358,558 | 8,390 | ||||
* | Sun Country Airlines Holdings Inc. | 622,965 | 7,824 | |||
Ennis Inc. | 352,527 | 7,717 | ||||
Rush Enterprises Inc. Class B | 193,998 | 7,612 | ||||
* | Xometry Inc. Class A | 642,096 | 7,423 | |||
* | Conduent Inc. | 2,267,608 | 7,392 | |||
*,1 | Hertz Global Holdings Inc. | 2,039,312 | 7,199 | |||
* | Liquidity Services Inc. | 352,763 | 7,048 | |||
* | Bowman Consulting Group Ltd. | 219,150 | 6,967 | |||
* | Sterling Check Corp. | 468,841 | 6,939 | |||
ACCO Brands Corp. | 1,469,059 | 6,905 | ||||
* | Franklin Covey Co. | 180,427 | 6,856 | |||
* | Manitowoc Co. Inc. | 569,725 | 6,569 | |||
Global Industrial Co. | 206,431 | 6,474 | ||||
National Presto Industries Inc. | 86,016 | 6,462 | ||||
* | 3D Systems Corp. | 2,100,309 | 6,448 | |||
LSI Industries Inc. | 434,496 | 6,287 |
Shares | Market Value• ($000) | |||||
1 | Spirit Airlines Inc. | 1,696,134 | 6,208 | |||
Shyft Group Inc. | 520,091 | 6,168 | ||||
Aris Water Solutions Inc. Class A | 392,180 | 6,145 | ||||
* | Titan International Inc. | 820,934 | 6,083 | |||
Allient Inc. | 236,017 | 5,964 | ||||
* | Planet Labs PBC | 3,163,476 | 5,884 | |||
Resources Connection Inc. | 526,253 | 5,810 | ||||
Covenant Logistics Group Inc. Class A | 117,524 | 5,793 | ||||
* | Hudson Technologies Inc. | 654,140 | 5,750 | |||
*,1 | Innodata Inc. | 386,496 | 5,732 | |||
* | TrueBlue Inc. | 540,418 | 5,566 | |||
* | Willdan Group Inc. | 190,728 | 5,502 | |||
* | Distribution Solutions Group Inc. | 179,044 | 5,371 | |||
*,1 | Nikola Corp. | 649,979 | 5,323 | |||
* | Titan Machinery Inc. | 330,232 | 5,251 | |||
* | Northwest Pipe Co. | 150,041 | 5,097 | |||
Luxfer Holdings plc | 422,626 | 4,898 | ||||
Preformed Line Products Co. | 38,929 | 4,848 | ||||
*,1 | FuelCell Energy Inc. | 6,981,318 | 4,460 | |||
* | Orion Group Holdings Inc. | 457,435 | 4,350 | |||
* | Custom Truck One Source Inc. | 974,584 | 4,239 | |||
* | Graham Corp. | 149,947 | 4,222 | |||
Universal Logistics Holdings Inc. | 103,274 | 4,192 | ||||
Pangaea Logistics Solutions Ltd. | 512,373 | 4,012 | ||||
Park Aerospace Corp. | 285,826 | 3,910 | ||||
*,1 | Blink Charging Co. | 1,423,370 | 3,900 | |||
*,1 | Net Power Inc. | 396,317 | 3,896 | |||
* | TaskUS Inc. Class A | 289,704 | 3,856 | |||
*,1 | SunPower Corp. | 1,292,214 | 3,825 | |||
* | Matrix Service Co. | 383,983 | 3,813 | |||
*,1 | Centuri Holdings Inc. | 186,840 | 3,640 | |||
* | Forrester Research Inc. | 211,525 | 3,613 | |||
*,1 | Proficient Auto Logistics Inc. | 222,960 | 3,581 | |||
*,1 | Eos Energy Enterprises Inc. | 2,596,275 | 3,297 | |||
* | AerSale Corp. | 475,741 | 3,292 | |||
Park-Ohio Holdings Corp. | 124,171 | 3,215 | ||||
* | L B Foster Co. Class A | 148,614 | 3,198 | |||
*,1 | Spire Global Inc. | 283,944 | 3,078 | |||
* | Hyliion Holdings Corp. | 1,895,909 | 3,071 | |||
Alta Equipment Group Inc. | 371,262 | 2,985 | ||||
* | GrafTech International Ltd. | 3,070,854 | 2,979 | |||
*,1 | Frontier Group Holdings Inc. | 600,445 | 2,960 | |||
* | Gencor Industries Inc. | 147,979 | 2,862 | |||
* | Radiant Logistics Inc. | 498,130 | 2,834 | |||
*,1 | TPI Composites Inc. | 707,801 | 2,824 | |||
* | SES AI Corp. | 2,203,107 | 2,754 | |||
* | Blade Air Mobility Inc. | 786,836 | 2,738 | |||
* | Asure Software Inc. | 324,928 | 2,729 | |||
* | Mayville Engineering Co. Inc. | 159,698 | 2,661 | |||
* | Byrna Technologies Inc. | 265,411 | 2,649 | |||
Quad/Graphics Inc. | 463,634 | 2,527 | ||||
*,1 | Stem Inc. | 2,220,967 | 2,465 | |||
* | Mistras Group Inc. | 294,816 | 2,444 | |||
*,1 | Montana Technologies Corp. | 235,395 | 2,427 | |||
*,1 | Virgin Galactic Holdings Inc. | 277,829 | 2,342 | |||
Karat Packaging Inc. | 78,371 | 2,318 | ||||
Willis Lease Finance Corp. | 33,271 | 2,306 | ||||
Eastern Co. | 88,712 | 2,259 | ||||
*,1 | LanzaTech Global Inc. | 1,218,417 | 2,254 | |||
Omega Flex Inc. | 43,887 | 2,251 | ||||
*,1 | Intuitive Machines Inc. | 659,957 | 2,178 | |||
* | Commercial Vehicle Group Inc. | 429,381 | 2,104 | |||
Virco Manufacturing Corp. | 150,864 | 2,103 | ||||
* | Redwire Corp. | 287,325 | 2,060 | |||
* | Concrete Pumping Holdings Inc. | 336,641 | 2,023 | |||
*,1 | Terran Orbital Corp. | 2,467,569 | 2,023 | |||
* | Perma-Fix Environmental Services Inc. | 184,484 | 1,869 | |||
Twin Disc Inc. | 158,583 | 1,868 | ||||
* | NN Inc. | 613,095 | 1,839 | |||
* | Quest Resource Holding Corp. | 205,544 | 1,809 |
Shares | Market Value• ($000) | |||||
* | DLH Holdings Corp. | 167,461 | 1,768 | |||
* | Taylor Devices Inc. | 39,276 | 1,767 | |||
TTEC Holdings Inc. | 294,053 | 1,729 | ||||
* | RCM Technologies Inc. | 91,076 | 1,705 | |||
* | PAM Transportation Services Inc. | 93,486 | 1,624 | |||
*,1 | Eve Holding Inc. | 393,107 | 1,592 | |||
* | Ultralife Corp. | 148,995 | 1,582 | |||
*,1 | Microvast Holdings Inc. | 3,395,294 | 1,549 | |||
*,1 | Mobile Infrastructure Corp. Class A | 443,056 | 1,520 | |||
* | FiscalNote Holdings Inc. | 1,039,674 | 1,518 | |||
Acme United Corp. | 42,843 | 1,502 | ||||
EVI Industries Inc. | 79,315 | 1,501 | ||||
*,1 | Desktop Metal Inc. Class A | 357,142 | 1,475 | |||
*,1 | Falcon's Beyond Global Inc. Class A | 135,778 | 1,420 | |||
ARC Document Solutions Inc. | 533,343 | 1,408 | ||||
*,1 | Sky Harbour Group Corp. | 149,306 | 1,381 | |||
* | Babcock & Wilcox Enterprises Inc. | 890,338 | 1,291 | |||
Hurco Cos. Inc. | 84,039 | 1,282 | ||||
* | VirTra Inc. | 163,694 | 1,259 | |||
BGSF Inc. | 146,036 | 1,249 | ||||
* | Odyssey Marine Exploration Inc. Class B | 247,703 | 1,209 | |||
* | BlackSky Technology Inc. Class A | 1,120,963 | 1,199 | |||
* | Alpha Pro Tech Ltd. | 194,654 | 1,071 | |||
*,1 | Energy Vault Holdings Inc. | 1,091,814 | 1,037 | |||
*,1 | NeoVolta Inc. | 376,764 | 995 | |||
*,1 | Mega Matrix Corp. | 396,268 | 983 | |||
* | 374Water Inc. | 807,554 | 969 | |||
* | Broadwind Inc. | 275,644 | 904 | |||
* | Manitex International Inc. | 199,735 | 885 | |||
* | Innovative Solutions & Support Inc. | 145,471 | 873 | |||
* | Perma-Pipe International Holdings Inc. | 97,176 | 865 | |||
*,1 | Beam Global | 178,909 | 825 | |||
* | Mesa Air Group Inc. | 474,206 | 811 | |||
NL Industries Inc. | 134,129 | 809 | ||||
HireQuest Inc. | 64,589 | 798 | ||||
* | Skillsoft Corp. | 57,505 | 795 | |||
*,1 | ESS Tech Inc. | 940,993 | 770 | |||
*,1 | Southland Holdings Inc. | 141,533 | 648 | |||
* | FreightCar America Inc. | 184,666 | 644 | |||
*,1 | Bridger Aerospace Group Holdings Inc. | 165,432 | 619 | |||
*,1 | SKYX Platforms Corp. | 644,799 | 613 | |||
* | Markforged Holding Corp. | 1,489,025 | 610 | |||
*,1 | Wheels Up Experience Inc. | 311,652 | 589 | |||
* | Ideal Power Inc. | 78,007 | 551 | |||
*,1 | INNOVATE Corp. | 891,382 | 539 | |||
* | Hudson Global Inc. | 30,771 | 511 | |||
* | Orion Energy Systems Inc. | 453,956 | 504 | |||
* | Flux Power Holdings Inc. | 160,450 | 499 | |||
* | GEE Group Inc. | 1,612,349 | 494 | |||
* | Mastech Digital Inc. | 64,171 | 481 | |||
* | Team Inc. | 52,557 | 467 | |||
*,1 | TechPrecision Corp. | 125,690 | 431 | |||
* | Air T Inc. | 19,387 | 414 | |||
* | ClearSign Technologies Corp. | 478,114 | 399 | |||
* | Hydrofarm Holdings Group Inc. | 577,654 | 399 | |||
*,1 | Complete Solaria Inc. | 354,350 | 397 | |||
*,1 | Xos Inc. | 57,084 | 394 | |||
*,1 | Hyzon Motors Inc. | 1,219,651 | 392 | |||
* | CPI Aerostructures Inc. | 152,363 | 376 | |||
* | Fuel Tech Inc. | 347,857 | 372 | |||
*,1 | KULR Technology Group Inc. | 933,703 | 369 | |||
Espey Manufacturing & Electronics Corp. | 16,768 | 356 | ||||
* | Steel Connect Inc. | 26,851 | 345 | |||
* | Pioneer Power Solutions Inc. | 84,350 | 335 | |||
* | Aqua Metals Inc. | 1,039,347 | 333 | |||
*,1 | Amprius Technologies Inc. | 255,988 | 325 | |||
* | Palladyne AI Corp. | 199,748 | 320 | |||
CompX International Inc. | 12,489 | 308 | ||||
*,1 | FTC Solar Inc. | 818,583 | 289 | |||
* | Westwater Resources Inc. | 592,292 | 285 |
Shares | Market Value• ($000) | |||||
*,1 | flyExclusive Inc. | 69,023 | 278 | |||
*,1 | Tigo Energy Inc. | 176,330 | 272 | |||
*,1 | Surf Air Mobility Inc. | 686,744 | 264 | |||
* | Jewett-Cameron Trading Co. Ltd. | 53,321 | 263 | |||
* | Where Food Comes From Inc. | 21,339 | 258 | |||
*,1 | Exela Technologies Inc. | 105,337 | 256 | |||
*,1 | Volato Group Inc. Class A | 355,929 | 208 | |||
*,1 | Knightscope Inc. Class A | 613,916 | 188 | |||
*,1 | Air Industries Group | 53,709 | 186 | |||
* | SIFCO Industries Inc. | 59,551 | 185 | |||
Chicago Rivet & Machine Co. | 12,203 | 181 | ||||
*,1 | Bitcoin Depot Inc. | 87,067 | 157 | |||
*,1 | Ocean Power Technologies Inc. | 753,871 | 148 | |||
* | Urban-Gro Inc. | 111,102 | 148 | |||
* | Optex Systems Holdings Inc. | 18,467 | 133 | |||
* | Wilhelmina International Inc. | 23,052 | 126 | |||
*,1 | Velo3D Inc. | 33,879 | 112 | |||
*,1 | Dragonfly Energy Holdings Corp. | 124,806 | 106 | |||
*,1 | Ideanomics Inc. | 116,534 | 105 | |||
*,1 | iPower Inc. | 48,974 | 102 | |||
*,1 | Solidion Technology Inc. | 179,690 | 99 | |||
*,1 | Astra Space Inc. Class A | 179,589 | 90 | |||
*,1 | Shimmick Corp. | 50,737 | 79 | |||
*,1 | Energous Corp. | 68,443 | 75 | |||
*,1 | LiqTech International Inc. | 31,286 | 73 | |||
*,1 | Getaround Inc. | 484,505 | 68 | |||
* | Laser Photonics Corp. | 32,357 | 62 | |||
* | TOMI Environmental Solutions Inc. | 66,377 | 58 | |||
*,1 | Advent Technologies Holdings Inc. | 16,873 | 51 | |||
*,1 | Expion360 Inc. | 39,179 | 39 | |||
* | DSS Inc. | 21,730 | 37 | |||
* | Avalon Holdings Corp. Class A | 15,500 | 34 | |||
*,1 | Professional Diversity Network Inc. | 75,021 | 34 | |||
*,1 | Sidus Space Inc. Class A | 14,109 | 33 | |||
*,1 | Polar Power Inc. | 80,105 | 32 | |||
*,1 | AgEagle Aerial Systems Inc. | 57,726 | 29 | |||
*,1 | FGI Industries Ltd. | 24,551 | 28 | |||
* | Safe & Green Holdings Corp. | 9,778 | 28 | |||
*,1 | Nauticus Robotics Inc. | 125,161 | 17 | |||
* | Art's-Way Manufacturing Co. Inc. | 10,164 | 16 | |||
*,1 | Energy Focus Inc. | 11,850 | 16 | |||
* | Shapeways Holdings Inc. | 21,179 | 15 | |||
*,1 | Jet.AI Inc. | 42,979 | 15 | |||
*,1 | Gaucho Group Holdings Inc. | 2,206 | 15 | |||
*,1 | Momentus Inc. Class A | 19,933 | 11 | |||
* | Staffing 360 Solutions Inc. | 3,099 | 6 | |||
*,1 | Pineapple Energy Inc. | 3,529 | 5 | |||
*,1 | Agrify Corp. | 9,557 | 4 | |||
*,1 | Nuvve Holding Corp. | 4,449 | 4 | |||
* | Servotronics Inc. | 154 | 2 | |||
* | Singularity Future Technology Ltd. | 500 | 2 | |||
*,1,2 | FTE Networks Inc. | 82,837 | — | |||
* | ShiftPixy Inc. | 280 | — | |||
* | Ault Alliance Inc. | 676 | — | |||
*,1 | Greenwave Technology Solutions Inc. | 153 | — | |||
* | SolarMax Technology Inc. | 100 | — | |||
17,862,744 | ||||||
Information Technology (17.6%) | ||||||
Marvell Technology Inc. | 13,132,426 | 917,957 | ||||
* | Palantir Technologies Inc. Class A | 30,059,020 | 761,395 | |||
* | Workday Inc. Class A | 3,222,737 | 720,475 | |||
* | Snowflake Inc. Class A | 5,068,111 | 684,651 | |||
* | Datadog Inc. Class A | 4,682,514 | 607,275 | |||
Dell Technologies Inc. Class C | 4,044,463 | 557,772 | ||||
* | HubSpot Inc. | 772,519 | 455,624 | |||
* | Atlassian Corp. Class A | 2,414,932 | 427,153 | |||
* | Cloudflare Inc. Class A | 4,564,137 | 378,047 | |||
*,1 | MicroStrategy Inc. Class A | 239,282 | 329,606 | |||
Entegris Inc. | 2,284,195 | 309,280 |
Shares | Market Value• ($000) | |||||
* | Pure Storage Inc. Class A | 4,636,226 | 297,692 | |||
* | MongoDB Inc. Class A | 1,067,833 | 266,916 | |||
* | Zscaler Inc. | 1,363,023 | 261,959 | |||
* | Zoom Video Communications Inc. Class A | 3,957,479 | 234,243 | |||
* | Manhattan Associates Inc. | 934,588 | 230,544 | |||
* | AppLovin Corp. Class A | 2,741,743 | 228,168 | |||
* | Okta Inc. Class A | 2,427,699 | 227,257 | |||
* | Nutanix Inc. Class A | 3,706,152 | 210,695 | |||
Bentley Systems Inc. Class B | 3,541,843 | 174,825 | ||||
* | Guidewire Software Inc. | 1,263,177 | 174,179 | |||
* | DocuSign Inc. Class A | 3,106,177 | 166,180 | |||
* | Onto Innovation Inc. | 747,887 | 164,206 | |||
* | Dynatrace Inc. | 3,646,404 | 163,140 | |||
* | Twilio Inc. Class A | 2,595,364 | 147,443 | |||
* | Coherent Corp. | 2,012,981 | 145,861 | |||
* | Elastic NV | 1,254,203 | 142,866 | |||
Universal Display Corp. | 663,054 | 139,407 | ||||
TD SYNNEX Corp. | 1,177,143 | 135,842 | ||||
* | Fabrinet | 548,840 | 134,351 | |||
MKS Instruments Inc. | 961,414 | 125,541 | ||||
Cognex Corp. | 2,611,868 | 122,131 | ||||
* | Lattice Semiconductor Corp. | 2,088,589 | 121,117 | |||
* | Confluent Inc. Class A | 3,718,993 | 109,822 | |||
* | Ciena Corp. | 2,199,477 | 105,971 | |||
* | SPS Commerce Inc. | 560,962 | 105,551 | |||
* | Cirrus Logic Inc. | 820,234 | 104,711 | |||
* | Samsara Inc. Class A | 2,899,320 | 97,707 | |||
* | Arrow Electronics Inc. | 805,715 | 97,298 | |||
Littelfuse Inc. | 376,960 | 96,347 | ||||
* | Rambus Inc. | 1,635,831 | 96,121 | |||
* | MACOM Technology Solutions Holdings Inc. | 834,824 | 93,058 | |||
* | Kyndryl Holdings Inc. | 3,497,463 | 92,018 | |||
* | Smartsheet Inc. Class A | 2,078,858 | 91,636 | |||
* | Procore Technologies Inc. | 1,379,296 | 91,461 | |||
* | SentinelOne Inc. Class A | 4,339,502 | 91,347 | |||
Vontier Corp. | 2,343,907 | 89,537 | ||||
* | Novanta Inc. | 545,495 | 88,976 | |||
* | Altair Engineering Inc. Class A | 865,532 | 84,891 | |||
* | Aspen Technology Inc. | 423,904 | 84,200 | |||
Badger Meter Inc. | 447,957 | 83,477 | ||||
* | Insight Enterprises Inc. | 419,742 | 83,260 | |||
*,1 | Marathon Digital Holdings Inc. | 4,141,556 | 82,210 | |||
* | Dropbox Inc. Class A | 3,657,109 | 82,175 | |||
* | Gitlab Inc. Class A | 1,650,025 | 82,039 | |||
* | Varonis Systems Inc. Class B | 1,692,212 | 81,175 | |||
* | CommVault Systems Inc. | 658,100 | 80,005 | |||
* | Qualys Inc. | 559,315 | 79,758 | |||
* | Tenable Holdings Inc. | 1,820,953 | 79,357 | |||
* | UiPath Inc. Class A | 6,159,362 | 78,101 | |||
* | Appfolio Inc. Class A | 317,428 | 77,633 | |||
* | HashiCorp Inc. Class A | 2,198,761 | 74,076 | |||
* | BILL Holdings Inc. | 1,374,534 | 72,328 | |||
Dolby Laboratories Inc. Class A | 910,529 | 72,141 | ||||
* | FormFactor Inc. | 1,170,695 | 70,862 | |||
Avnet Inc. | 1,364,660 | 70,266 | ||||
* | Axcelis Technologies Inc. | 493,234 | 70,133 | |||
* | Itron Inc. | 689,943 | 68,277 | |||
* | ACI Worldwide Inc. | 1,591,539 | 63,009 | |||
Amkor Technology Inc. | 1,565,052 | 62,633 | ||||
* | Credo Technology Group Holding Ltd. | 1,955,632 | 62,463 | |||
* | ASGN Inc. | 697,010 | 61,455 | |||
Advanced Energy Industries Inc. | 563,380 | 61,273 | ||||
* | Unity Software Inc. | 3,710,690 | 60,336 | |||
Power Integrations Inc. | 858,682 | 60,271 | ||||
Belden Inc. | 618,927 | 58,055 | ||||
* | Box Inc. Class A | 2,178,043 | 57,587 | |||
* | CCC Intelligent Solutions Holdings Inc. | 5,052,946 | 56,138 | |||
* | Sanmina Corp. | 841,431 | 55,745 | |||
* | Impinj Inc. | 352,247 | 55,222 | |||
*,1 | Cleanspark Inc. | 3,457,460 | 55,146 |
Shares | Market Value• ($000) | |||||
* | Q2 Holdings Inc. | 905,454 | 54,626 | |||
* | Workiva Inc. Class A | 741,219 | 54,102 | |||
* | Silicon Laboratories Inc. | 481,963 | 53,320 | |||
* | Synaptics Inc. | 593,308 | 52,330 | |||
* | DXC Technology Co. | 2,714,885 | 51,827 | |||
* | Lumentum Holdings Inc. | 1,011,145 | 51,488 | |||
* | Teradata Corp. | 1,461,222 | 50,500 | |||
* | Diodes Inc. | 692,541 | 49,814 | |||
* | Five9 Inc. | 1,126,989 | 49,700 | |||
* | Envestnet Inc. | 769,741 | 48,178 | |||
* | Alarm.com Holdings Inc. | 753,621 | 47,885 | |||
* | Blackbaud Inc. | 616,074 | 46,926 | |||
Crane NXT Co. | 746,024 | 45,821 | ||||
* | Clearwater Analytics Holdings Inc. Class A | 2,399,817 | 44,445 | |||
InterDigital Inc. | 379,335 | 44,215 | ||||
* | Wolfspeed Inc. | 1,897,297 | 43,182 | |||
*,1 | C3.ai Inc. Class A | 1,477,165 | 42,779 | |||
* | Plexus Corp. | 414,200 | 42,737 | |||
* | DoubleVerify Holdings Inc. | 2,162,770 | 42,109 | |||
Vishay Intertechnology Inc. | 1,882,461 | 41,979 | ||||
* | Zeta Global Holdings Corp. Class A | 2,344,334 | 41,378 | |||
Kulicke & Soffa Industries Inc. | 837,640 | 41,204 | ||||
* | Rapid7 Inc. | 950,115 | 41,073 | |||
* | Veeco Instruments Inc. | 873,188 | 40,787 | |||
* | Perficient Inc. | 537,155 | 40,174 | |||
Pegasystems Inc. | 661,881 | 40,064 | ||||
* | BlackLine Inc. | 784,746 | 38,021 | |||
*,1 | Riot Platforms Inc. | 4,101,500 | 37,488 | |||
* | IPG Photonics Corp. | 435,651 | 36,765 | |||
* | Freshworks Inc. Class A | 2,798,163 | 35,509 | |||
* | RingCentral Inc. Class A | 1,242,477 | 35,038 | |||
Progress Software Corp. | 644,938 | 34,994 | ||||
* | Squarespace Inc. Class A | 791,342 | 34,526 | |||
* | Aurora Innovation Inc. Class A | 12,268,084 | 33,983 | |||
* | Braze Inc. Class A | 871,772 | 33,860 | |||
* | SiTime Corp. | 270,616 | 33,659 | |||
* | OSI Systems Inc. | 243,497 | 33,486 | |||
* | PagerDuty Inc. | 1,445,046 | 33,135 | |||
* | Ultra Clean Holdings Inc. | 669,726 | 32,817 | |||
* | Agilysys Inc. | 314,087 | 32,709 | |||
* | LiveRamp Holdings Inc. | 1,028,242 | 31,814 | |||
* | Ambarella Inc. | 585,630 | 31,595 | |||
* | Rogers Corp. | 259,758 | 31,329 | |||
* | Calix Inc. | 861,712 | 30,530 | |||
* | Allegro MicroSystems Inc. | 1,075,803 | 30,381 | |||
* | Mirion Technologies Inc. Class A | 2,822,376 | 30,312 | |||
* | Verint Systems Inc. | 931,761 | 30,003 | |||
* | Semtech Corp. | 997,225 | 29,797 | |||
* | nCino Inc. | 946,502 | 29,767 | |||
* | TTM Technologies Inc. | 1,507,365 | 29,288 | |||
* | ePlus Inc. | 394,519 | 29,068 | |||
* | DigitalOcean Holdings Inc. | 828,404 | 28,787 | |||
* | Vertex Inc. Class A | 749,915 | 27,034 | |||
* | Extreme Networks Inc. | 2,004,378 | 26,959 | |||
* | Sprout Social Inc. Class A | 755,280 | 26,948 | |||
* | NCR Voyix Corp. | 2,080,524 | 25,694 | |||
* | PAR Technology Corp. | 522,419 | 24,601 | |||
Clear Secure Inc. Class A | 1,312,000 | 24,548 | ||||
* | Knowles Corp. | 1,386,518 | 23,931 | |||
* | Photronics Inc. | 968,073 | 23,882 | |||
* | Viavi Solutions Inc. | 3,448,388 | 23,690 | |||
Napco Security Technologies Inc. | 453,908 | 23,581 | ||||
* | MaxLinear Inc. Class A | 1,155,516 | 23,272 | |||
* | Cohu Inc. | 698,317 | 23,114 | |||
CTS Corp. | 455,265 | 23,050 | ||||
* | Intapp Inc. | 617,236 | 22,634 | |||
* | Diebold Nixdorf Inc. | 581,692 | 22,384 | |||
*,1 | Core Scientific Inc. | 2,400,394 | 22,324 | |||
*,1 | SolarEdge Technologies Inc. | 881,363 | 22,263 | |||
* | Everbridge Inc. | 635,305 | 22,229 |
Shares | Market Value• ($000) | |||||
Benchmark Electronics Inc. | 559,139 | 22,064 | ||||
*,1 | Klaviyo Inc. Class A | 878,643 | 21,869 | |||
* | Zuora Inc. Class A | 2,102,189 | 20,875 | |||
* | Harmonic Inc. | 1,743,126 | 20,517 | |||
Xerox Holdings Corp. | 1,750,711 | 20,343 | ||||
* | NetScout Systems Inc. | 1,102,767 | 20,170 | |||
* | PowerSchool Holdings Inc. Class A | 889,809 | 19,923 | |||
* | Ichor Holdings Ltd. | 509,520 | 19,642 | |||
* | Arlo Technologies Inc. | 1,466,527 | 19,124 | |||
* | PROS Holdings Inc. | 665,625 | 19,070 | |||
* | Informatica Inc. Class A | 612,374 | 18,910 | |||
*,1 | Infinera Corp. | 3,097,086 | 18,861 | |||
*,1 | Astera Labs Inc. | 308,916 | 18,693 | |||
*,1 | IonQ Inc. | 2,658,156 | 18,687 | |||
Adeia Inc. | 1,668,405 | 18,661 | ||||
* | Appian Corp. Class A | 601,728 | 18,569 | |||
* | SMART Global Holdings Inc. | 808,844 | 18,498 | |||
*,1 | SoundHound AI Inc. Class A | 4,519,643 | 17,853 | |||
* | Asana Inc. Class A | 1,269,676 | 17,763 | |||
* | Alkami Technology Inc. | 623,644 | 17,761 | |||
* | Sprinklr Inc. Class A | 1,845,533 | 17,754 | |||
* | PDF Solutions Inc. | 477,852 | 17,384 | |||
* | ScanSource Inc. | 389,720 | 17,269 | |||
* | ACM Research Inc. Class A | 722,511 | 16,661 | |||
* | Matterport Inc. | 3,708,993 | 16,579 | |||
* | N-able Inc. | 1,087,030 | 16,555 | |||
* | AvePoint Inc. | 1,461,637 | 15,230 | |||
*,1 | Terawulf Inc. | 3,400,924 | 15,134 | |||
A10 Networks Inc. | 1,091,624 | 15,119 | ||||
* | Jamf Holding Corp. | 910,521 | 15,024 | |||
* | Viasat Inc. | 1,165,502 | 14,802 | |||
* | Fastly Inc. Class A | 1,859,839 | 13,707 | |||
* | Alpha & Omega Semiconductor Ltd. | 359,046 | 13,418 | |||
*,1 | indie Semiconductor Inc. Class A | 2,118,624 | 13,072 | |||
* | Digi International Inc. | 562,678 | 12,902 | |||
Bel Fuse Inc. Class B | 189,550 | 12,366 | ||||
* | E2open Parent Holdings Inc. | 2,751,007 | 12,352 | |||
PC Connection Inc. | 183,008 | 11,749 | ||||
* | Rubrik Inc. Class A | 367,226 | 11,259 | |||
*,1 | Hut 8 Corp. | 698,283 | 10,467 | |||
* | Amplitude Inc. Class A | 1,141,204 | 10,157 | |||
Ubiquiti Inc. | 67,490 | 9,831 | ||||
SolarWinds Corp. | 800,281 | 9,643 | ||||
* | Daktronics Inc. | 664,220 | 9,266 | |||
* | Kimball Electronics Inc. | 410,997 | 9,034 | |||
* | Grid Dynamics Holdings Inc. | 854,217 | 8,978 | |||
* | Couchbase Inc. | 479,948 | 8,764 | |||
* | Yext Inc. | 1,630,038 | 8,721 | |||
* | BigCommerce Holdings Inc. | 1,060,550 | 8,548 | |||
Hackett Group Inc. | 385,452 | 8,372 | ||||
* | nLight Inc. | 761,715 | 8,326 | |||
* | Mitek Systems Inc. | 733,029 | 8,195 | |||
*,1 | iLearningEngines Holdings Inc. | 897,481 | 8,149 | |||
* | Navitas Semiconductor Corp. Class A | 1,948,365 | 7,657 | |||
* | Olo Inc. Class A | 1,706,799 | 7,544 | |||
* | Corsair Gaming Inc. | 682,697 | 7,537 | |||
*,1 | Applied Digital Corp. | 1,265,290 | 7,528 | |||
* | CEVA Inc. | 382,190 | 7,372 | |||
*,1 | NextNav Inc. | 881,384 | 7,148 | |||
*,1 | Digimarc Corp. | 230,175 | 7,138 | |||
* | OneSpan Inc. | 556,022 | 7,128 | |||
* | Instructure Holdings Inc. | 303,845 | 7,113 | |||
* | MeridianLink Inc. | 326,048 | 6,964 | |||
* | Powerfleet Inc. | 1,521,156 | 6,952 | |||
* | SmartRent Inc. Class A | 2,891,893 | 6,912 | |||
* | Clearfield Inc. | 166,212 | 6,409 | |||
* | SEMrush Holdings Inc. Class A | 465,019 | 6,227 | |||
*,1 | Blend Labs Inc. Class A | 2,612,028 | 6,164 | |||
* | Cipher Mining Inc. | 1,475,671 | 6,124 | |||
* | NETGEAR Inc. | 396,884 | 6,072 |
Shares | Market Value• ($000) | |||||
ADTRAN Holdings Inc. | 1,152,280 | 6,061 | ||||
* | Daily Journal Corp. | 15,184 | 5,990 | |||
Methode Electronics Inc. | 573,883 | 5,940 | ||||
* | Vishay Precision Group Inc. | 194,901 | 5,933 | |||
* | Xperi Inc. | 705,155 | 5,789 | |||
NVE Corp. | 76,616 | 5,722 | ||||
* | Aviat Networks Inc. | 194,459 | 5,579 | |||
* | Eastman Kodak Co. | 1,031,840 | 5,551 | |||
*,1 | Lightwave Logic Inc. | 1,852,750 | 5,540 | |||
*,1 | Ouster Inc. | 556,457 | 5,470 | |||
American Software Inc. Class A | 547,844 | 5,002 | ||||
* | FARO Technologies Inc. | 311,205 | 4,979 | |||
* | Enfusion Inc. Class A | 571,969 | 4,873 | |||
* | Consensus Cloud Solutions Inc. | 271,958 | 4,672 | |||
* | Unisys Corp. | 1,115,384 | 4,607 | |||
*,1 | Aehr Test Systems | 409,217 | 4,571 | |||
*,1 | Applied Optoelectronics Inc. | 537,375 | 4,455 | |||
* | Red Violet Inc. | 174,860 | 4,441 | |||
* | Thoughtworks Holding Inc. | 1,523,661 | 4,327 | |||
Immersion Corp. | 457,466 | 4,305 | ||||
* | 8x8 Inc. | 1,933,137 | 4,292 | |||
* | Ribbon Communications Inc. | 1,274,293 | 4,192 | |||
Climb Global Solutions Inc. | 66,690 | 4,189 | ||||
* | Weave Communications Inc. | 463,277 | 4,179 | |||
* | CommScope Holding Co. Inc. | 3,359,786 | 4,133 | |||
* | ON24 Inc. | 662,626 | 3,982 | |||
* | Turtle Beach Corp. | 260,978 | 3,742 | |||
* | Domo Inc. Class B | 482,417 | 3,724 | |||
* | Ooma Inc. | 343,937 | 3,415 | |||
* | EverCommerce Inc. | 302,185 | 3,318 | |||
* | Evolv Technologies Holdings Inc. | 1,199,516 | 3,059 | |||
* | Backblaze Inc. Class A | 494,108 | 3,044 | |||
* | Telos Corp. | 755,369 | 3,037 | |||
*,1 | Rackspace Technology Inc. | 1,016,667 | 3,030 | |||
*,1 | MicroVision Inc. | 2,833,940 | 3,004 | |||
1 | ReposiTrak Inc. | 191,260 | 2,924 | |||
* | Dave Inc. | 94,377 | 2,860 | |||
*,1 | Tucows Inc. Class A | 144,551 | 2,793 | |||
* | Iteris Inc. | 640,487 | 2,773 | |||
*,1 | GCT Semiconductor Holding Inc. | 490,160 | 2,554 | |||
* | SkyWater Technology Inc. | 328,647 | 2,514 | |||
* | CS Disco Inc. | 399,811 | 2,383 | |||
* | Rimini Street Inc. | 760,275 | 2,334 | |||
* | Digital Turbine Inc. | 1,391,492 | 2,310 | |||
* | Viant Technology Inc. Class A | 230,647 | 2,276 | |||
* | Arteris Inc. | 294,674 | 2,213 | |||
*,1 | QuickLogic Corp. | 209,178 | 2,173 | |||
* | AXT Inc. | 598,651 | 2,023 | |||
* | eGain Corp. | 306,912 | 1,937 | |||
Richardson Electronics Ltd. | 161,606 | 1,922 | ||||
* | Porch Group Inc. | 1,215,601 | 1,836 | |||
* | AudioEye Inc. | 102,550 | 1,806 | |||
*,1 | Rekor Systems Inc. | 1,156,236 | 1,792 | |||
*,1 | Silvaco Group Inc. | 99,180 | 1,783 | |||
1 | CompoSecure Inc. Class A | 261,801 | 1,780 | |||
* | 908 Devices Inc. | 340,623 | 1,754 | |||
* | Cerence Inc. | 613,907 | 1,737 | |||
* | CPI Card Group Inc. | 63,608 | 1,733 | |||
* | inTEST Corp. | 170,452 | 1,684 | |||
*,1 | Rigetti Computing Inc. | 1,557,582 | 1,667 | |||
* | SoundThinking Inc. | 135,097 | 1,645 | |||
CSP Inc. | 110,249 | 1,643 | ||||
*,1 | Luna Innovations Inc. | 501,912 | 1,606 | |||
* | Lantronix Inc. | 444,995 | 1,580 | |||
* | Intevac Inc. | 393,579 | 1,519 | |||
* | Everspin Technologies Inc. | 250,166 | 1,499 | |||
* | Brightcove Inc. | 594,426 | 1,409 | |||
*,1 | Atomera Inc. | 369,491 | 1,408 | |||
Information Services Group Inc. | 476,239 | 1,400 | ||||
* | Identiv Inc. | 325,076 | 1,398 |
Shares | Market Value• ($000) | |||||
* | AstroNova Inc. | 87,800 | 1,356 | |||
*,1 | Comtech Telecommunications Corp. | 435,297 | 1,319 | |||
*,1 | D-Wave Quantum Inc. | 1,148,498 | 1,309 | |||
* | Kopin Corp. | 1,550,345 | 1,302 | |||
*,1 | Inseego Corp. | 120,884 | 1,289 | |||
*,1 | BigBear.ai Holdings Inc. | 839,528 | 1,268 | |||
* | CoreCard Corp. | 84,857 | 1,238 | |||
* | Genasys Inc. | 583,155 | 1,233 | |||
* | Synchronoss Technologies Inc. | 132,312 | 1,231 | |||
* | WM Technology Inc. | 1,114,578 | 1,159 | |||
*,1 | Vuzix Corp. | 857,111 | 1,157 | |||
*,1 | Veritone Inc. | 496,928 | 1,123 | |||
*,1 | M-Tron Industries Inc. | 31,573 | 1,112 | |||
* | Kaltura Inc. | 924,082 | 1,109 | |||
* | SecureWorks Corp. Class A | 150,770 | 1,055 | |||
* | Upland Software Inc. | 413,665 | 1,030 | |||
* | Amtech Systems Inc. | 175,185 | 1,027 | |||
* | KVH Industries Inc. | 220,329 | 1,025 | |||
* | Aeva Technologies Inc. | 385,759 | 972 | |||
* | Expensify Inc. Class A | 634,087 | 945 | |||
* | Airgain Inc. | 152,243 | 920 | |||
* | Frequency Electronics Inc. | 93,838 | 855 | |||
* | Intellicheck Inc. | 243,594 | 833 | |||
*,1 | Phunware Inc. | 150,545 | 826 | |||
*,1 | Wrap Technologies Inc. | 405,134 | 810 | |||
* | Research Solutions Inc. | 315,892 | 806 | |||
*,1 | Research Frontiers Inc. | 411,436 | 757 | |||
*,1 | Airship AI Holdings Inc. | 204,406 | 734 | |||
* | Pixelworks Inc. | 738,058 | 726 | |||
* | DecisionPoint Systems Inc. | 66,301 | 676 | |||
*,1 | LivePerson Inc. | 1,122,286 | 651 | |||
* | GSI Technology Inc. | 241,894 | 641 | |||
* | authID Inc. | 61,344 | 637 | |||
* | Key Tronic Corp. | 156,477 | 634 | |||
* | Quantum Corp. | 1,535,792 | 628 | |||
*,1 | Red Cat Holdings Inc. | 526,035 | 605 | |||
* | LightPath Technologies Inc. Class A | 424,658 | 535 | |||
* | Sono-Tek Corp. | 138,125 | 535 | |||
* | Franklin Wireless Corp. | 146,912 | 533 | |||
*,1 | Edgio Inc. | 47,314 | 517 | |||
* | NetSol Technologies Inc. | 188,484 | 479 | |||
* | Crexendo Inc. | 151,964 | 478 | |||
*,1 | Stronghold Digital Mining Inc. Class A | 109,492 | 470 | |||
* | TransAct Technologies Inc. | 123,342 | 465 | |||
* | Coda Octopus Group Inc. | 75,655 | 456 | |||
* | One Stop Systems Inc. | 183,201 | 442 | |||
* | Cambium Networks Corp. | 156,165 | 436 | |||
* | SigmaTron International Inc. | 77,301 | 432 | |||
* | WidePoint Corp. | 102,130 | 428 | |||
1 | QXO Inc. | 5,837 | 419 | |||
* | CVD Equipment Corp. | 100,702 | 392 | |||
* | Inuvo Inc. | 1,457,319 | 374 | |||
* | RF Industries Ltd. | 105,170 | 367 | |||
* | Data I/O Corp. | 131,906 | 364 | |||
* | Aware Inc. | 182,524 | 360 | |||
*,1 | Quantum Computing Inc. | 695,632 | 349 | |||
* | LGL Group Inc. | 61,008 | 328 | |||
* | Prairie Operating Co. | 28,620 | 311 | |||
* | VirnetX Holding Corp. | 45,281 | 308 | |||
* | TSR Inc. | 22,667 | 304 | |||
*,1 | Ondas Holdings Inc. | 515,580 | 299 | |||
*,1 | Data Storage Corp. | 45,382 | 298 | |||
* | Issuer Direct Corp. | 36,699 | 288 | |||
*,1 | Neonode Inc. | 139,362 | 288 | |||
* | CPS Technologies Corp. | 164,742 | 280 | |||
* | Optical Cable Corp. | 101,263 | 274 | |||
*,1 | DZS Inc. | 231,838 | 271 | |||
*,1 | Mawson Infrastructure Group Inc. | 187,673 | 268 | |||
* | BK Technologies Corp. | 19,072 | 244 | |||
*,1 | CXApp Inc. | 114,278 | 231 |
Shares | Market Value• ($000) | |||||
* | Trio-Tech International | 36,381 | 222 | |||
* | Electro-Sensors Inc. | 51,424 | 205 | |||
*,1 | Greenidge Generation Holdings Inc. Class A | 73,177 | 197 | |||
* | Smith Micro Software Inc. | 88,305 | 195 | |||
*,1 | Meta Materials Inc. | 63,223 | 190 | |||
*,1 | Brand Engagement Network Inc. | 51,024 | 176 | |||
* | Urgent.ly Inc. | 89,131 | 153 | |||
* | Duos Technologies Group Inc. | 53,228 | 152 | |||
* | VerifyMe Inc. | 106,857 | 151 | |||
* | Vislink Technologies Inc. | 33,462 | 146 | |||
* | Movano Inc. | 512,874 | 141 | |||
*,1 | AEye Inc. | 72,262 | 141 | |||
*,1 | Alpine 4 Holdings Inc. | 290,863 | 140 | |||
*,1 | Akoustis Technologies Inc. | 996,180 | 131 | |||
* | Astrotech Corp. | 13,863 | 126 | |||
*,1 | BTCS Inc. | 87,854 | 121 | |||
* | Glimpse Group Inc. | 116,434 | 119 | |||
*,1 | GSE Systems Inc. | 25,559 | 118 | |||
* | AmpliTech Group Inc. | 103,829 | 109 | |||
* | Blackboxstocks Inc. | 39,297 | 107 | |||
*,1 | Bridgeline Digital Inc. | 110,790 | 102 | |||
* | Cepton Inc. | 35,896 | 97 | |||
*,1 | EMCORE Corp. | 78,115 | 92 | |||
* | Interlink Electronics Inc. | 22,335 | 91 | |||
* | Focus Universal Inc. | 374,994 | 90 | |||
* | Universal Security Instruments Inc. | 47,378 | 76 | |||
*,1 | Intellinetics Inc. | 11,863 | 76 | |||
ClearOne Inc. | 114,784 | 75 | ||||
*,1 | Minim Inc. | 23,144 | 75 | |||
* | Socket Mobile Inc. | 67,150 | 73 | |||
* | Digital Ally Inc. | 30,556 | 73 | |||
*,1 | Marin Software Inc. | 30,216 | 71 | |||
* | Nortech Systems Inc. | 4,884 | 67 | |||
*,1 | LM Funding America Inc. | 16,506 | 67 | |||
*,1 | MariaDB plc | 121,347 | 65 | |||
* | Sonim Technologies Inc. | 60,169 | 60 | |||
Taitron Components Inc. Class A | 21,640 | 57 | ||||
*,1 | reAlpha Tech Corp. | 57,800 | 55 | |||
*,1 | Boxlight Corp. Class A | 87,801 | 54 | |||
*,1 | Soluna Holdings Inc. | 7,454 | 45 | |||
*,1 | Spectaire Holdings Inc. | 50,927 | 25 | |||
*,1 | Mobix Labs Inc. | 15,474 | 25 | |||
Network-1 Technologies Inc. | 13,705 | 24 | ||||
*,1 | WaveDancer Inc. | 11,093 | 23 | |||
*,1 | CISO Global Inc. | 39,262 | 23 | |||
* | Sobr Safe Inc. | 148,945 | 22 | |||
*,1 | Presto Automation Inc. | 317,079 | 22 | |||
* | Iveda Solutions Inc. | 40,984 | 21 | |||
*,1 | T Stamp Inc. Class A | 44,215 | 21 | |||
*,2 | SRAX Inc. | 284,252 | 20 | |||
*,1 | WiSA Technologies Inc. | 6,939 | 18 | |||
*,1 | Castellum Inc. | 83,941 | 16 | |||
*,1 | CYNGN Inc. | 186,493 | 14 | |||
*,1 | Intrusion Inc. | 11,187 | 12 | |||
* | NextTrip Inc. | 5,427 | 11 | |||
* | Bio-key International Inc. | 6,653 | 11 | |||
*,1 | DatChat Inc. | 9,288 | 10 | |||
* | Oblong Inc. | 45,359 | 8 | |||
*,1 | Verb Technology Co. Inc. | 68,376 | 8 | |||
*,1 | Peraso Inc. | 4,690 | 7 | |||
*,1 | Strong Global Entertainment Inc. Class A | 4,331 | 7 | |||
*,1 | FOXO Technologies Inc. | 24,238 | 6 | |||
*,1 | Auddia Inc. | 6,183 | 6 | |||
*,1 | MultiSensor AI Holdings Inc. | 3,221 | 5 | |||
*,1 | XTI Aerospace Inc. | 5,801 | 3 | |||
*,1 | Syntec Optics Holdings Inc. | 576 | 2 | |||
*,1 | Cemtrex Inc. | 6,772 | 1 | |||
* | Gryphon Digital Mining Inc. | 1,200 | 1 | |||
*,1 | Griid Infrastructure Inc. | 1,104 | 1 |
Shares | Market Value• ($000) | |||||
*,1 | Actelis Networks Inc. | 200 | — | |||
17,614,637 | ||||||
Materials (5.0%) | ||||||
CRH plc | 10,397,898 | 779,634 | ||||
Reliance Inc. | 869,493 | 248,327 | ||||
RPM International Inc. | 1,955,034 | 210,518 | ||||
AptarGroup Inc. | 1,007,770 | 141,904 | ||||
Crown Holdings Inc. | 1,807,956 | 134,494 | ||||
United States Steel Corp. | 3,387,404 | 128,044 | ||||
Royal Gold Inc. | 997,789 | 124,883 | ||||
Graphic Packaging Holding Co. | 4,656,362 | 122,043 | ||||
* | Axalta Coating Systems Ltd. | 3,345,410 | 114,313 | |||
Eagle Materials Inc. | 521,241 | 113,349 | ||||
* | Cleveland-Cliffs Inc. | 7,193,350 | 110,706 | |||
Alcoa Corp. | 2,723,673 | 108,348 | ||||
* | ATI Inc. | 1,889,688 | 104,783 | |||
Berry Global Group Inc. | 1,728,167 | 101,703 | ||||
Commercial Metals Co. | 1,748,396 | 96,144 | ||||
Element Solutions Inc. | 3,382,832 | 91,742 | ||||
Olin Corp. | 1,815,462 | 85,599 | ||||
Carpenter Technology Corp. | 750,746 | 82,267 | ||||
Louisiana-Pacific Corp. | 965,179 | 79,463 | ||||
Cabot Corp. | 840,886 | 77,269 | ||||
Sealed Air Corp. | 2,196,312 | 76,410 | ||||
Balchem Corp. | 491,552 | 75,674 | ||||
Sonoco Products Co. | 1,482,873 | 75,211 | ||||
Ashland Inc. | 763,126 | 72,108 | ||||
Westlake Corp. | 484,047 | 70,100 | ||||
* | Summit Materials Inc. Class A | 1,827,707 | 66,912 | |||
HB Fuller Co. | 834,588 | 64,230 | ||||
Avient Corp. | 1,372,414 | 59,906 | ||||
* | Knife River Corp. | 852,419 | 59,789 | |||
Huntsman Corp. | 2,433,180 | 55,403 | ||||
NewMarket Corp. | 104,945 | 54,106 | ||||
* | Arcadium Lithium plc | 15,581,519 | 52,354 | |||
Silgan Holdings Inc. | 1,219,281 | 51,612 | ||||
Chemours Co. | 2,242,250 | 50,608 | ||||
Alpha Metallurgical Resources Inc. | 175,988 | 49,370 | ||||
Warrior Met Coal Inc. | 785,684 | 49,317 | ||||
Sensient Technologies Corp. | 635,854 | 47,174 | ||||
Innospec Inc. | 372,148 | 45,994 | ||||
Hecla Mining Co. | 8,843,691 | 42,892 | ||||
Scotts Miracle-Gro Co. | 648,669 | 42,202 | ||||
Arch Resources Inc. | 274,962 | 41,857 | ||||
Minerals Technologies Inc. | 485,419 | 40,367 | ||||
Sylvamo Corp. | 525,412 | 36,043 | ||||
Quaker Chemical Corp. | 205,400 | 34,856 | ||||
Materion Corp. | 319,479 | 34,545 | ||||
* | Coeur Mining Inc. | 6,007,597 | 33,763 | |||
Tronox Holdings plc | 1,794,246 | 28,152 | ||||
Stepan Co. | 330,540 | 27,752 | ||||
* | O-I Glass Inc. | 2,400,965 | 26,723 | |||
*,1 | MP Materials Corp. | 2,045,247 | 26,036 | |||
Hawkins Inc. | 284,431 | 25,883 | ||||
Greif Inc. Class A | 445,872 | 25,624 | ||||
* | Ingevity Corp. | 525,489 | 22,969 | |||
Kaiser Aluminum Corp. | 247,511 | 21,756 | ||||
* | Aspen Aerogels Inc. | 888,033 | 21,180 | |||
Orion SA | 900,204 | 19,750 | ||||
* | Perimeter Solutions SA | 2,063,931 | 16,161 | |||
Worthington Steel Inc. | 473,701 | 15,803 | ||||
TriMas Corp. | 605,760 | 15,483 | ||||
* | Ecovyst Inc. | 1,610,899 | 14,450 | |||
Mativ Holdings Inc. | 847,826 | 14,379 | ||||
* | Century Aluminum Co. | 813,678 | 13,629 | |||
* | Clearwater Paper Corp. | 268,584 | 13,018 | |||
SunCoke Energy Inc. | 1,302,927 | 12,769 | ||||
*,1 | PureCycle Technologies Inc. | 2,127,799 | 12,597 | |||
* | Metallus Inc. | 620,253 | 12,573 |
Shares | Market Value• ($000) | |||||
* | Ivanhoe Electric Inc. | 1,313,164 | 12,317 | |||
Koppers Holdings Inc. | 324,929 | 12,019 | ||||
United States Lime & Minerals Inc. | 31,612 | 11,512 | ||||
Haynes International Inc. | 194,750 | 11,432 | ||||
AdvanSix Inc. | 436,346 | 10,001 | ||||
Ryerson Holding Corp. | 453,674 | 8,847 | ||||
Myers Industries Inc. | 585,019 | 7,828 | ||||
* | Gatos Silver Inc. | 736,951 | 7,694 | |||
Ramaco Resources Inc. Class A | 599,567 | 7,465 | ||||
Pactiv Evergreen Inc. | 639,294 | 7,237 | ||||
Olympic Steel Inc. | 157,316 | 7,052 | ||||
*,1 | Ginkgo Bioworks Holdings Inc. Class A | 20,872,612 | 6,978 | |||
Radius Recycling Inc. | 411,240 | 6,280 | ||||
* | LSB Industries Inc. | 737,408 | 6,032 | |||
Mercer International Inc. | 693,911 | 5,926 | ||||
*,1 | McEwen Mining Inc. | 637,066 | 5,848 | |||
* | Rayonier Advanced Materials Inc. | 1,023,442 | 5,567 | |||
Compass Minerals International Inc. | 537,552 | 5,553 | ||||
Kronos Worldwide Inc. | 309,460 | 3,884 | ||||
* | Ranpak Holdings Corp. Class A | 603,569 | 3,881 | |||
American Vanguard Corp. | 447,788 | 3,851 | ||||
* | Universal Stainless & Alloy Products Inc. | 126,614 | 3,467 | |||
* | Intrepid Potash Inc. | 138,492 | 3,245 | |||
*,1 | Piedmont Lithium Inc. | 280,022 | 2,795 | |||
* | Arq Inc. | 400,431 | 2,431 | |||
* | Dakota Gold Corp. | 910,707 | 2,322 | |||
Northern Technologies International Corp. | 111,967 | 1,854 | ||||
* | Tredegar Corp. | 382,334 | 1,831 | |||
* | Core Molding Technologies Inc. | 111,989 | 1,785 | |||
Greif Inc. Class B | 27,728 | 1,733 | ||||
* | Smith-Midland Corp. | 62,126 | 1,720 | |||
* | Idaho Strategic Resources Inc. | 169,246 | 1,669 | |||
*,1 | Origin Materials Inc. | 1,744,951 | 1,573 | |||
* | Alto Ingredients Inc. | 1,042,887 | 1,507 | |||
*,1 | ASP Isotopes Inc. | 464,016 | 1,420 | |||
Friedman Industries Inc. | 93,681 | 1,415 | ||||
Trinseo plc | 539,567 | 1,246 | ||||
*,1 | Contango ORE Inc. | 63,483 | 1,147 | |||
* | Ascent Industries Co. | 110,698 | 1,080 | |||
*,1 | Glatfelter Corp. | 730,566 | 1,015 | |||
*,1 | American Battery Technology Co. | 755,360 | 944 | |||
* | Flotek Industries Inc. | 180,183 | 885 | |||
*,1 | Danimer Scientific Inc. | 1,256,035 | 758 | |||
*,1 | US Gold Corp. | 143,623 | 743 | |||
*,1 | 5E Advanced Materials Inc. | 614,269 | 743 | |||
*,1 | Solitario Resources Corp. | 786,156 | 696 | |||
*,1 | Loop Industries Inc. | 332,490 | 695 | |||
Ramaco Resources Inc. Class B | 58,340 | 634 | ||||
*,1 | Hycroft Mining Holding Corp. Class A | 235,039 | 564 | |||
* | Gold Resource Corp. | 1,281,600 | 479 | |||
* | United States Antimony Corp. | 1,198,945 | 403 | |||
* | Ampco-Pittsburgh Corp. | 180,060 | 139 | |||
* | US Goldmining Inc. | 18,138 | 115 | |||
* | Paramount Gold Nevada Corp. | 190,627 | 76 | |||
*,1 | Golden Minerals Co. | 75,719 | 32 | |||
*,1 | N2OFF Inc. | 16,703 | 8 | |||
* | Adamas One Corp. | 27,332 | 7 | |||
*,2 | Novusterra Inc. | 68,679 | — | |||
*,1 | Crown ElectroKinetics Corp. | 57 | — | |||
5,025,403 | ||||||
Real Estate (5.4%) | ||||||
Sun Communities Inc. | 1,888,354 | 227,245 | ||||
Gaming & Leisure Properties Inc. | 4,110,050 | 185,815 | ||||
Equity LifeStyle Properties Inc. | 2,838,593 | 184,878 | ||||
WP Carey Inc. | 3,322,116 | 182,882 | ||||
American Homes 4 Rent Class A | 4,873,379 | 181,095 | ||||
Lamar Advertising Co. Class A | 1,328,611 | 158,809 | ||||
CubeSmart | 3,419,717 | 154,469 | ||||
* | Jones Lang LaSalle Inc. | 719,202 | 147,638 |
Shares | Market Value• ($000) | |||||
Rexford Industrial Realty Inc. | 3,295,657 | 146,953 | ||||
Omega Healthcare Investors Inc. | 3,755,697 | 128,633 | ||||
* | Zillow Group Inc. Class C | 2,732,798 | 126,775 | |||
EastGroup Properties Inc. | 729,983 | 124,170 | ||||
NNN REIT Inc. | 2,781,088 | 118,474 | ||||
Brixmor Property Group Inc. | 4,571,167 | 105,548 | ||||
Americold Realty Trust Inc. | 4,069,867 | 103,944 | ||||
STAG Industrial Inc. | 2,768,312 | 99,825 | ||||
First Industrial Realty Trust Inc. | 2,011,616 | 95,572 | ||||
Healthcare Realty Trust Inc. Class A | 5,774,519 | 95,164 | ||||
Agree Realty Corp. | 1,532,474 | 94,921 | ||||
Ryman Hospitality Properties Inc. | 907,406 | 90,614 | ||||
Terreno Realty Corp. | 1,473,959 | 87,229 | ||||
Kite Realty Group Trust | 3,324,366 | 74,399 | ||||
Essential Properties Realty Trust Inc. | 2,666,690 | 73,894 | ||||
Vornado Realty Trust | 2,417,430 | 63,554 | ||||
Independence Realty Trust Inc. | 3,373,418 | 63,218 | ||||
Phillips Edison & Co. Inc. | 1,846,930 | 60,413 | ||||
Rayonier Inc. | 2,059,628 | 59,915 | ||||
1 | SL Green Realty Corp. | 972,372 | 55,075 | |||
CareTrust REIT Inc. | 2,154,287 | 54,073 | ||||
Cousins Properties Inc. | 2,324,250 | 53,806 | ||||
Sabra Health Care REIT Inc. | 3,466,187 | 53,379 | ||||
Macerich Co. | 3,237,768 | 49,991 | ||||
Kilroy Realty Corp. | 1,601,773 | 49,927 | ||||
Apple Hospitality REIT Inc. | 3,384,234 | 49,207 | ||||
EPR Properties | 1,155,962 | 48,527 | ||||
Innovative Industrial Properties Inc. | 433,827 | 47,383 | ||||
Park Hotels & Resorts Inc. | 3,129,325 | 46,877 | ||||
PotlatchDeltic Corp. | 1,188,565 | 46,818 | ||||
Broadstone Net Lease Inc. | 2,885,615 | 45,795 | ||||
Tanger Inc. | 1,664,003 | 45,111 | ||||
National Health Investors Inc. | 650,797 | 44,078 | ||||
National Storage Affiliates Trust | 1,056,580 | 43,552 | ||||
COPT Defense Properties | 1,726,217 | 43,207 | ||||
Highwoods Properties Inc. | 1,626,369 | 42,725 | ||||
LXP Industrial Trust | 4,489,927 | 40,948 | ||||
SITE Centers Corp. | 2,760,315 | 40,025 | ||||
1 | Medical Properties Trust Inc. | 9,007,226 | 38,821 | |||
Four Corners Property Trust Inc. | 1,397,309 | 34,472 | ||||
Douglas Emmett Inc. | 2,573,116 | 34,248 | ||||
Urban Edge Properties | 1,798,884 | 33,225 | ||||
Outfront Media Inc. | 2,246,902 | 32,131 | ||||
DigitalBridge Group Inc. | 2,333,430 | 31,968 | ||||
* | Equity Commonwealth | 1,632,215 | 31,665 | |||
Sunstone Hotel Investors Inc. | 3,005,024 | 31,433 | ||||
* | Cushman & Wakefield plc | 3,019,684 | 31,405 | |||
* | Howard Hughes Holdings Inc. | 478,904 | 31,043 | |||
St. Joe Co. | 549,554 | 30,061 | ||||
Acadia Realty Trust | 1,564,749 | 28,040 | ||||
DiamondRock Hospitality Co. | 3,231,795 | 27,309 | ||||
InvenTrust Properties Corp. | 1,047,503 | 25,936 | ||||
Pebblebrook Hotel Trust | 1,772,200 | 24,368 | ||||
Retail Opportunity Investments Corp. | 1,934,530 | 24,046 | ||||
LTC Properties Inc. | 678,961 | 23,424 | ||||
RLJ Lodging Trust | 2,390,432 | 23,020 | ||||
* | Zillow Group Inc. Class A | 502,147 | 22,617 | |||
Global Net Lease Inc. | 3,023,236 | 22,221 | ||||
Xenia Hotels & Resorts Inc. | 1,508,610 | 21,618 | ||||
Elme Communities | 1,298,578 | 20,686 | ||||
Getty Realty Corp. | 761,594 | 20,304 | ||||
Easterly Government Properties Inc. Class A | 1,568,806 | 19,406 | ||||
Alexander & Baldwin Inc. | 1,141,474 | 19,359 | ||||
Empire State Realty Trust Inc. Class A | 2,034,896 | 19,087 | ||||
JBG SMITH Properties | 1,221,416 | 18,602 | ||||
* | Compass Inc. Class A | 5,101,711 | 18,366 | |||
NETSTREIT Corp. | 1,136,704 | 18,301 | ||||
Kennedy-Wilson Holdings Inc. | 1,848,837 | 17,971 | ||||
Newmark Group Inc. Class A | 1,728,880 | 17,686 | ||||
Veris Residential Inc. | 1,176,188 | 17,643 |
Shares | Market Value• ($000) | |||||
American Assets Trust Inc. | 750,960 | 16,806 | ||||
* | Opendoor Technologies Inc. | 8,910,739 | 16,396 | |||
* | Apartment Investment & Management Co. Class A | 1,953,970 | 16,198 | |||
UMH Properties Inc. | 965,014 | 15,431 | ||||
Centerspace | 218,380 | 14,769 | ||||
1 | American Healthcare REIT Inc. | 988,056 | 14,435 | |||
NexPoint Residential Trust Inc. | 357,384 | 14,120 | ||||
Safehold Inc. | 718,616 | 13,862 | ||||
1 | eXp World Holdings Inc. | 1,191,734 | 13,449 | |||
Service Properties Trust | 2,608,287 | 13,407 | ||||
Piedmont Office Realty Trust Inc. Class A | 1,752,377 | 12,705 | ||||
Plymouth Industrial REIT Inc. | 584,785 | 12,503 | ||||
Brandywine Realty Trust | 2,745,651 | 12,301 | ||||
Armada Hoffler Properties Inc. | 1,062,451 | 11,783 | ||||
Marcus & Millichap Inc. | 373,125 | 11,761 | ||||
Paramount Group Inc. | 2,530,214 | 11,715 | ||||
Uniti Group Inc. | 3,707,269 | 10,825 | ||||
* | Redfin Corp. | 1,782,456 | 10,713 | |||
Diversified Healthcare Trust | 3,372,861 | 10,287 | ||||
Whitestone REIT | 726,695 | 9,672 | ||||
Hudson Pacific Properties Inc. | 2,003,835 | 9,638 | ||||
* | Forestar Group Inc. | 293,761 | 9,397 | |||
Community Healthcare Trust Inc. | 398,396 | 9,318 | ||||
CBL & Associates Properties Inc. | 385,524 | 9,014 | ||||
Summit Hotel Properties Inc. | 1,496,130 | 8,962 | ||||
Global Medical REIT Inc. | 950,746 | 8,633 | ||||
Gladstone Commercial Corp. | 545,830 | 7,789 | ||||
Universal Health Realty Income Trust | 192,779 | 7,545 | ||||
Gladstone Land Corp. | 549,856 | 7,528 | ||||
Saul Centers Inc. | 204,521 | 7,520 | ||||
Alexander's Inc. | 32,503 | 7,309 | ||||
1 | Farmland Partners Inc. | 604,569 | 6,971 | |||
* | Tejon Ranch Co. | 373,730 | 6,376 | |||
One Liberty Properties Inc. | 268,576 | 6,306 | ||||
Chatham Lodging Trust | 716,956 | 6,108 | ||||
Peakstone Realty Trust | 568,297 | 6,024 | ||||
* | Anywhere Real Estate Inc. | 1,767,740 | 5,851 | |||
NET Lease Office Properties | 235,938 | 5,809 | ||||
1 | CTO Realty Growth Inc. | 305,545 | 5,335 | |||
* | FRP Holdings Inc. | 182,992 | 5,219 | |||
RMR Group Inc. Class A | 227,934 | 5,151 | ||||
Postal Realty Trust Inc. Class A | 299,843 | 3,997 | ||||
Orion Office REIT Inc. | 1,060,265 | 3,806 | ||||
BRT Apartments Corp. | 209,255 | 3,656 | ||||
* | Star Holdings | 299,430 | 3,611 | |||
Industrial Logistics Properties Trust | 946,492 | 3,483 | ||||
Alpine Income Property Trust Inc. | 205,392 | 3,196 | ||||
NexPoint Diversified Real Estate Trust | 558,755 | 3,090 | ||||
* | Seritage Growth Properties Class A | 645,648 | 3,015 | |||
City Office REIT Inc. | 572,275 | 2,850 | ||||
RE/MAX Holdings Inc. Class A | 298,475 | 2,418 | ||||
* | Stratus Properties Inc. | 94,932 | 2,394 | |||
Braemar Hotels & Resorts Inc. | 895,611 | 2,284 | ||||
Franklin Street Properties Corp. | 1,341,324 | 2,052 | ||||
* | Maui Land & Pineapple Co. Inc. | 89,398 | 1,971 | |||
Office Properties Income Trust | 743,688 | 1,517 | ||||
* | Douglas Elliman Inc. | 1,030,775 | 1,196 | |||
Modiv Industrial Inc. Class C | 84,141 | 1,190 | ||||
* | AMREP Corp. | 56,666 | 1,072 | |||
Bluerock Homes Trust Inc. | 54,970 | 962 | ||||
Global Self Storage Inc. | 170,573 | 829 | ||||
Clipper Realty Inc. | 225,016 | 812 | ||||
* | Doma Holdings Inc. | 91,760 | 557 | |||
* | Ashford Hospitality Trust Inc. | 559,405 | 543 | |||
*,1 | Offerpad Solutions Inc. | 114,771 | 507 | |||
Creative Media & Community Trust Corp. | 186,677 | 502 | ||||
* | Transcontinental Realty Investors Inc. | 17,849 | 495 | |||
* | Sotherly Hotels Inc. | 298,937 | 344 | |||
* | Comstock Holding Cos. Inc. Class A | 52,330 | 333 | |||
1 | Generation Income Properties Inc. | 73,862 | 301 |
Shares | Market Value• ($000) | |||||
* | Altisource Portfolio Solutions SA | 186,743 | 263 | |||
* | Rafael Holdings Inc. Class B | 172,498 | 248 | |||
*,1 | American Realty Investors Inc. | 14,699 | 209 | |||
* | Fathom Holdings Inc. | 102,907 | 177 | |||
* | InterGroup Corp. | 7,864 | 165 | |||
* | JW Mays Inc. | 2,534 | 116 | |||
Strawberry Fields REIT Inc. | 8,391 | 96 | ||||
InnSuites Hospitality Trust | 51,409 | 92 | ||||
* | New Concept Energy Inc. | 48,067 | 77 | |||
* | CKX Lands Inc. | 5,488 | 74 | |||
*,2 | Spirit MTA REIT | 653,668 | 59 | |||
*,1 | Trinity Place Holdings Inc. | 313,994 | 37 | |||
* | Alset Inc. | 21,638 | 36 | |||
* | Power REIT | 36,007 | 32 | |||
*,1 | Altisource Asset Management Corp. | 15,639 | 30 | |||
*,1 | LuxUrban Hotels Inc. | 120,402 | 28 | |||
1 | Medalist Diversified REIT Inc. | 3,971 | 23 | |||
*,1 | Safe & Green Development Corp. | 43,845 | 19 | |||
*,1 | Avalon GloboCare Corp. | 34,504 | 16 | |||
*,1 | American Strategic Investment Co. | 1,139 | 11 | |||
Presidio Property Trust Inc. Class A | 5,005 | 3 | ||||
*,1 | Wheeler REIT Inc. | 124 | 2 | |||
5,416,769 | ||||||
Utilities (1.5%) | ||||||
Essential Utilities Inc. | 3,803,152 | 141,972 | ||||
OGE Energy Corp. | 3,010,987 | 107,492 | ||||
National Fuel Gas Co. | 1,380,841 | 74,828 | ||||
UGI Corp. | 3,175,633 | 72,722 | ||||
IDACORP Inc. | 768,434 | 71,580 | ||||
Portland General Electric Co. | 1,555,491 | 67,259 | ||||
New Jersey Resources Corp. | 1,512,589 | 64,648 | ||||
Southwest Gas Holdings Inc. | 911,267 | 64,135 | ||||
Ormat Technologies Inc. | 802,153 | 57,514 | ||||
Black Hills Corp. | 1,045,845 | 56,873 | ||||
ALLETE Inc. | 885,160 | 55,190 | ||||
Otter Tail Corp. | 628,009 | 55,007 | ||||
ONE Gas Inc. | 852,899 | 54,458 | ||||
Spire Inc. | 868,982 | 52,773 | ||||
PNM Resources Inc. | 1,367,606 | 50,547 | ||||
Northwestern Energy Group Inc. | 941,109 | 47,131 | ||||
California Water Service Group | 892,563 | 43,280 | ||||
American States Water Co. | 574,868 | 41,718 | ||||
Avista Corp. | 1,189,622 | 41,173 | ||||
MGE Energy Inc. | 540,972 | 40,421 | ||||
Avangrid Inc. | 1,021,829 | 36,306 | ||||
Clearway Energy Inc. Class C | 1,468,436 | 36,256 | ||||
Chesapeake Utilities Corp. | 337,540 | 35,847 | ||||
SJW Group | 449,068 | 24,349 | ||||
Northwest Natural Holding Co. | 571,710 | 20,644 | ||||
Hawaiian Electric Industries Inc. | 1,713,066 | 15,452 | ||||
Middlesex Water Co. | 255,067 | 13,330 | ||||
Unitil Corp. | 246,267 | 12,754 | ||||
*,1 | Sunnova Energy International Inc. | 1,643,598 | 9,171 | |||
*,1 | Oklo Inc. Class A | 1,081,871 | 9,163 | |||
Clearway Energy Inc. Class A | 372,255 | 8,435 | ||||
York Water Co. | 214,702 | 7,963 | ||||
Consolidated Water Co. Ltd. | 248,285 | 6,590 | ||||
* | Montauk Renewables Inc. | 1,039,864 | 5,927 | |||
Genie Energy Ltd. Class B | 360,524 | 5,271 | ||||
Artesian Resources Corp. Class A | 140,405 | 4,937 | ||||
* | Altus Power Inc. Class A | 1,028,044 | 4,030 | |||
* | Pure Cycle Corp. | 295,865 | 2,826 | |||
RGC Resources Inc. | 127,094 | 2,599 | ||||
*,1 | Cadiz Inc. | 681,992 | 2,107 | |||
Global Water Resources Inc. | 151,647 | 1,835 | ||||
* | Spruce Power Holding Corp. | 198,962 | 726 | |||
1,527,239 | ||||||
Total Common Stocks (Cost $84,447,791) | 99,552,828 |
Shares | Market Value• ($000) | |||||
Preferred Stocks (0.0%) | ||||||
FAT Brands Inc. Pfd., 8.250%, 8/6/24 | 7,939 | 110 | ||||
*,1,2 | Next Bridge Hydrocarbons Inc. Preference Shares | 902,467 | — | |||
*,2 | BTCS Inc. Preference Shares | 87,854 | — | |||
Total Preferred Stocks (Cost $2,737) | 110 | |||||
Rights (0.0%) | ||||||
*,2 | Frequency Therapeutics Inc. CVR | 448,505 | 879 | |||
*,2 | Tobira Therapeutics Inc. CVR Exp. 12/31/28 | 87,894 | 398 | |||
*,2 | Inhibrx Inc. CVR | 396,851 | 257 | |||
*,1,2 | Palisade Bio Inc. CVR | 238,902 | 229 | |||
*,2 | Spectrum Pharmaceuticals Inc. CVR | 2,524,293 | 206 | |||
*,2 | Imara Inc. CVR | 140,767 | 176 | |||
*,2 | Adamas Pharmaceuticals Inc. CVR | 1,055,708 | 64 | |||
*,2 | Surface Oncology Inc. CVR | 579,706 | 54 | |||
*,2 | Gyre Therapeutics Inc. CVR | 475,977 | 48 | |||
*,2 | Miromatrix Medical Inc. CVR | 280,666 | 39 | |||
*,2 | Aduro Biotech Inc. CVR | 150,581 | 28 | |||
*,2 | Strongbridge Biopharma plc CVR | 687,671 | 24 | |||
*,2 | Aevi Genomic Medicine Inc. CVR | 631,947 | 21 | |||
*,2 | Landos Biopharma Inc. CVR | 8,191 | 21 | |||
*,1,2 | Oncternal Therapeutics Inc. CVR | 19,268 | 20 | |||
*,2 | Ocera Therapeutics Inc. CVR | 48,417 | 13 | |||
*,1,2 | Miragen Therapeutics Inc. CVR | 330,960 | 7 | |||
*,2 | Qualigen Therapeutics Inc. CVR | 91,096 | 6 | |||
*,2 | F-star Therapeutics Inc. CVR | 81,676 | 6 | |||
*,2 | Q32 Bio Inc. CVR | 535,943 | 5 | |||
*,2 | Alexza Pharmaceuticals Inc. CVR | 128,704 | 4 | |||
*,1,2 | Seelos Therapeutics Inc. CVR | 5,736 | 3 | |||
*,2 | Dianthus Therapeutics Inc. CVR | 545,859 | 3 | |||
* | Ligand Pharmaceuticals Inc. Glucagon CVR | 395,811 | 2 | |||
* | Ligand Pharmaceuticals Inc. General CVR | 395,811 | 2 | |||
*,2 | Ocuphire Pharma Inc. CVR | 13,673 | 2 | |||
*,1,2 | CinCor Pharma Inc. CVR | 832 | 2 | |||
* | Ligand Pharmaceuticals Inc. Roche CVR | 395,811 | 1 | |||
*,2 | Ambit Biosciences Corp. CVR | 22,388 | — | |||
*,2 | NeuroBo Pharmaceuticals Inc. CVR | 5,194 | — | |||
*,2 | Pineapple Energy Inc. CVR | 30,377 | — | |||
*,2 | Sesen Bio Inc. CVR | 2,671,362 | — | |||
*,2 | Chinook Therapeutics Inc. CVR | 59 | — | |||
*,1,2 | Spyre Therapeutics Inc. CVR | 632,341 | — | |||
*,2 | Neurogene Inc. CVR | 95,916 | — | |||
*,2 | Traws Pharma Inc. CVR | 321,970 | — | |||
*,2 | Tectonic Therapeutic Inc. CVR | 44,790 | — | |||
Total Rights (Cost $2,442) | 2,520 | |||||
Warrants (0.0%) | ||||||
* | Ayala Pharmaceuticals Inc. Exp. 9/11/24 | 47,130 | — | |||
* | Salarius Pharmaceuticals Inc. Exp. 1/20/25 | 119,407 | — | |||
* | Danimer Scientific Inc. Exp. 7/15/25 | 418,678 | — | |||
* | Serina Therapeutics Inc. Exp. 7/31/25 | 4,479 | — | |||
Total Warrants (Cost $200) | — |
Shares | Market Value• ($000) | |||||
Temporary Cash Investments (2.2%) | ||||||
Money Market Fund (2.2%) | ||||||
4,5 | Vanguard Market Liquidity Fund, 5.380% (Cost $2,184,560) | 21,860,346 | 2,185,816 | |||
Total Investments (101.9%) (Cost $86,637,730) | 101,741,274 | |||||
Other Assets and Liabilities—Net (-1.9%) | (1,912,596) | |||||
Net Assets (100%) | 99,828,678 |
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 $1,726,475,000. |
2 | Security value determined using significant unobservable inputs. |
3 | Restricted securities totaling $1,685,000, representing 0.0% of net assets. |
4 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
5 | Collateral of $1,961,288,000 was received for securities on loan, of which $1,961,024,000 is held in Vanguard Market Liquidity Fund and $264,000 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 NASDAQ 100 Index | September 2024 | 140 | 55,796 | (61) |
E-mini Russell 2000 Index | September 2024 | 1,434 | 148,061 | 1,365 |
E-mini S&P Mid-Cap 400 Index | September 2024 | 32 | 9,466 | 91 |
1,395 |
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) |
BILL Holdings Inc. | 8/30/24 | BANA | 4,424 | (5.330) | 32 | — |
Chewy Inc. Class A | 1/31/25 | GSI | 7,071 | (5.330) | 1,363 | — |
Lucid Group Inc. | 1/31/25 | GSI | 4,802 | (5.330) | — | (7) |
Magnolia Oil & Gas Corp. Class A | 8/29/25 | BANA | 17,802 | (5.330) | — | (484) |
MongoDB Inc. Class A | 8/29/25 | BANA | 10,387 | (5.330) | 573 | — |
Sirius XM Holdings Inc. | 1/31/25 | GSI | 5,830 | (5.330) | 387 | — |
2,355 | (491) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $84,453,170) | 99,555,458 |
Affiliated Issuers (Cost $2,184,560) | 2,185,816 |
Total Investments in Securities | 101,741,274 |
Investment in Vanguard | 2,950 |
Cash | 68,009 |
Cash Collateral Pledged—Futures Contracts | 21,712 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 810 |
Receivables for Investment Securities Sold | 85,680 |
Receivables for Accrued Income | 77,936 |
Receivables for Capital Shares Issued | 37,481 |
Variation Margin Receivable—Futures Contracts | 393 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 2,355 |
Total Assets | 102,038,600 |
Liabilities | |
Payables for Investment Securities Purchased | 63,657 |
Collateral for Securities on Loan | 1,961,288 |
Payables for Capital Shares Redeemed | 105,143 |
Payables for Distributions | 77,541 |
Payables to Vanguard | 1,802 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 491 |
Total Liabilities | 2,209,922 |
Net Assets | 99,828,678 |
1 Includes $1,726,475,000 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2024, net assets consisted of: | |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Paid-in Capital | 87,311,487 |
Total Distributable Earnings (Loss) | 12,517,191 |
Net Assets | 99,828,678 |
Investor Shares—Net Assets | |
Applicable to 1,516,556 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 194,359 |
Net Asset Value Per Share—Investor Shares | $128.16 |
ETF Shares—Net Assets | |
Applicable to 108,825,145 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 18,366,620 |
Net Asset Value Per Share—ETF Shares | $168.77 |
Admiral Shares—Net Assets | |
Applicable to 183,515,409 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 23,499,117 |
Net Asset Value Per Share—Admiral Shares | $128.05 |
Institutional Shares—Net Assets | |
Applicable to 116,987,652 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 14,979,133 |
Net Asset Value Per Share—Institutional Shares | $128.04 |
Institutional Plus Shares—Net Assets | |
Applicable to 39,242,413 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 12,399,763 |
Net Asset Value Per Share—Institutional Plus Shares | $315.98 |
Institutional Select Shares—Net Assets | |
Applicable to 147,673,964 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 30,389,686 |
Net Asset Value Per Share—Institutional Select Shares | $205.79 |
Six Months Ended June 30, 2024 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 540,827 |
Interest2 | 7,011 |
Securities Lending—Net | 43,877 |
Total Income | 591,715 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 908 |
Management and Administrative—Investor Shares | 185 |
Management and Administrative—ETF Shares | 4,463 |
Management and Administrative—Admiral Shares | 6,228 |
Management and Administrative—Institutional Shares | 3,222 |
Management and Administrative—Institutional Plus Shares | 2,004 |
Management and Administrative—Institutional Select Shares | 2,526 |
Marketing and Distribution—Investor Shares | 5 |
Marketing and Distribution—ETF Shares | 454 |
Marketing and Distribution—Admiral Shares | 432 |
Marketing and Distribution—Institutional Shares | 231 |
Marketing and Distribution—Institutional Plus Shares | 198 |
Marketing and Distribution—Institutional Select Shares | 28 |
Custodian Fees | 340 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 220 |
Shareholders’ Reports—Admiral Shares | 93 |
Shareholders’ Reports—Institutional Shares | 119 |
Shareholders’ Reports—Institutional Plus Shares | 113 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 28 |
Other Expenses | 9 |
Total Expenses | 21,806 |
Net Investment Income | 569,909 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 2,881,840 |
Futures Contracts | 24,172 |
Swap Contracts | (23,034) |
Realized Net Gain (Loss) | 2,882,978 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (240,834) |
Futures Contracts | (11,591) |
Swap Contracts | (1,878) |
Change in Unrealized Appreciation (Depreciation) | (254,303) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 3,198,584 |
1 | Dividends are net of foreign withholding taxes of $603,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $6,589,000, $114,000, and $159,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $3,510,250,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 569,909 | 1,233,009 | |
Realized Net Gain (Loss) | 2,882,978 | 5,089,762 | |
Change in Unrealized Appreciation (Depreciation) | (254,303) | 13,606,795 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 3,198,584 | 19,929,566 | |
Distributions | |||
Investor Shares | (1,056) | (2,799) | |
ETF Shares | (109,397) | (216,881) | |
Admiral Shares | (141,795) | (304,809) | |
Institutional Shares | (91,413) | (197,911) | |
Institutional Plus Shares | (75,984) | (157,589) | |
Institutional Select Shares | (184,398) | (358,784) | |
Total Distributions | (604,043) | (1,238,773) | |
Capital Share Transactions | |||
Investor Shares | (42,739) | (44,315) | |
ETF Shares | 304,466 | 1,158,186 | |
Admiral Shares | (772,302) | (985,934) | |
Institutional Shares | (574,020) | (827,656) | |
Institutional Plus Shares | (153,814) | (656,866) | |
Institutional Select Shares | 1,264,948 | 877,035 | |
Net Increase (Decrease) from Capital Share Transactions | 26,539 | (479,550) | |
Total Increase (Decrease) | 2,621,080 | 18,211,243 | |
Net Assets | |||
Beginning of Period | 97,207,598 | 78,996,355 | |
End of Period | 99,828,678 | 97,207,598 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $124.78 | $100.93 | $138.80 | $124.83 | $95.66 | $75.74 |
Investment Operations | ||||||
Net Investment Income1 | .634 | 1.411 | 1.280 | 1.216 | .983 | .962 |
Net Realized and Unrealized Gain (Loss) on Investments | 3.425 | 23.876 | (38.141) | 14.134 | 29.401 | 20.089 |
Total from Investment Operations | 4.059 | 25.287 | (36.861) | 15.350 | 30.384 | 21.051 |
Distributions | ||||||
Dividends from Net Investment Income | (.679) | (1.437) | (1.009) | (1.380) | (1.214) | (1.131) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.679) | (1.437) | (1.009) | (1.380) | (1.214) | (1.131) |
Net Asset Value, End of Period | $128.16 | $124.78 | $100.93 | $138.80 | $124.83 | $95.66 |
Total Return2 | 3.25% | 25.22% | -26.56% | 12.31% | 32.04% | 27.87% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $194 | $232 | $229 | $399 | $454 | $455 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19%3 | 0.19%3 | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 1.07% | 1.28% | 1.14% | 0.87% | 1.04% | 1.09% |
Portfolio Turnover Rate4 | 5% | 11% | 11% | 19% | 19% | 13% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $164.34 | $132.92 | $182.81 | $164.43 | $126.02 | $99.77 |
Investment Operations | ||||||
Net Investment Income1 | .954 | 2.086 | 1.914 | 1.867 | 1.509 | 1.636 |
Net Realized and Unrealized Gain (Loss) on Investments | 4.489 | 31.415 | (50.278) | 18.576 | 38.668 | 26.255 |
Total from Investment Operations | 5.443 | 33.501 | (48.364) | 20.443 | 40.177 | 27.891 |
Distributions | ||||||
Dividends from Net Investment Income | (1.013) | (2.081) | (1.526) | (2.063) | (1.767) | (1.641) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.013) | (2.081) | (1.526) | (2.063) | (1.767) | (1.641) |
Net Asset Value, End of Period | $168.77 | $164.34 | $132.92 | $182.81 | $164.43 | $126.02 |
Total Return | 3.31% | 25.39% | -26.46% | 12.44% | 32.20% | 28.04% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $18,367 | $17,606 | $13,089 | $17,593 | $13,761 | $8,119 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06%2 | 0.06%2 | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.22% | 1.44% | 1.31% | 1.02% | 1.20% | 1.40% |
Portfolio Turnover Rate3 | 5% | 11% | 11% | 19% | 19% | 13% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $124.68 | $100.85 | $138.70 | $124.75 | $95.61 | $75.70 |
Investment Operations | ||||||
Net Investment Income1 | .720 | 1.557 | 1.437 | 1.408 | 1.112 | 1.236 |
Net Realized and Unrealized Gain (Loss) on Investments | 3.419 | 23.851 | (38.129) | 14.106 | 29.367 | 19.918 |
Total from Investment Operations | 4.139 | 25.408 | (36.692) | 15.514 | 30.479 | 21.154 |
Distributions | ||||||
Dividends from Net Investment Income | (.769) | (1.578) | (1.158) | (1.564) | (1.339) | (1.244) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.769) | (1.578) | (1.158) | (1.564) | (1.339) | (1.244) |
Net Asset Value, End of Period | $128.05 | $124.68 | $100.85 | $138.70 | $124.75 | $95.61 |
Total Return2 | 3.31% | 25.38% | -26.47% | 12.45% | 32.21% | 28.03% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $23,499 | $23,639 | $20,012 | $29,054 | $26,784 | $22,391 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06%3 | 0.06%3 | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 1.21% | 1.42% | 1.29% | 1.01% | 1.18% | 1.39% |
Portfolio Turnover Rate4 | 5% | 11% | 11% | 19% | 19% | 13% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $124.68 | $100.84 | $138.69 | $124.74 | $95.60 | $75.69 |
Investment Operations | ||||||
Net Investment Income1 | .727 | 1.567 | 1.439 | 1.413 | 1.125 | 1.239 |
Net Realized and Unrealized Gain (Loss) on Investments | 3.408 | 23.862 | (38.120) | 14.115 | 29.364 | 19.925 |
Total from Investment Operations | 4.135 | 25.429 | (36.681) | 15.528 | 30.489 | 21.164 |
Distributions | ||||||
Dividends from Net Investment Income | (.775) | (1.589) | (1.169) | (1.578) | (1.349) | (1.254) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.775) | (1.589) | (1.169) | (1.578) | (1.349) | (1.254) |
Net Asset Value, End of Period | $128.04 | $124.68 | $100.84 | $138.69 | $124.74 | $95.60 |
Total Return | 3.31% | 25.41% | -26.46% | 12.47% | 32.23% | 28.05% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $14,979 | $15,139 | $12,983 | $19,456 | $18,659 | $14,927 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05%2 | 0.05%2 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.22% | 1.43% | 1.29% | 1.01% | 1.19% | 1.40% |
Portfolio Turnover Rate3 | 5% | 11% | 11% | 19% | 19% | 13% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $307.67 | $248.85 | $342.27 | $307.85 | $235.94 | $186.80 |
Investment Operations | ||||||
Net Investment Income1 | 1.808 | 3.898 | 3.597 | 3.595 | 2.798 | 3.078 |
Net Realized and Unrealized Gain (Loss) on Investments | 8.432 | 58.870 | (94.104) | 34.757 | 72.466 | 49.178 |
Total from Investment Operations | 10.240 | 62.768 | (90.507) | 38.352 | 75.264 | 52.256 |
Distributions | ||||||
Dividends from Net Investment Income | (1.930) | (3.948) | (2.913) | (3.932) | (3.354) | (3.116) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.930) | (3.948) | (2.913) | (3.932) | (3.354) | (3.116) |
Net Asset Value, End of Period | $315.98 | $307.67 | $248.85 | $342.27 | $307.85 | $235.94 |
Total Return | 3.32% | 25.41% | -26.45% | 12.48% | 32.24% | 28.07% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $12,400 | $12,216 | $10,446 | $15,973 | $11,665 | $9,486 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04%2 | 0.04%2 | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.23% | 1.44% | 1.31% | 1.04% | 1.20% | 1.41% |
Portfolio Turnover Rate3 | 5% | 11% | 11% | 19% | 19% | 13% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $200.37 | $162.04 | $222.86 | $200.45 | $153.63 | $121.63 |
Investment Operations | ||||||
Net Investment Income1 | 1.203 | 2.580 | 2.421 | 2.352 | 1.855 | 2.059 |
Net Realized and Unrealized Gain (Loss) on Investments | 5.484 | 38.338 | (61.319) | 22.661 | 47.179 | 31.999 |
Total from Investment Operations | 6.687 | 40.918 | (58.898) | 25.013 | 49.034 | 34.058 |
Distributions | ||||||
Dividends from Net Investment Income | (1.267) | (2.588) | (1.922) | (2.603) | (2.214) | (2.058) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.267) | (2.588) | (1.922) | (2.603) | (2.214) | (2.058) |
Net Asset Value, End of Period | $205.79 | $200.37 | $162.04 | $222.86 | $200.45 | $153.63 |
Total Return | 3.33% | 25.44% | -26.44% | 12.50% | 32.27% | 28.09% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $30,390 | $28,375 | $22,239 | $26,240 | $24,472 | $19,166 |
Ratio of Total Expenses to Average Net Assets | 0.02% | 0.02%2 | 0.02%2 | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.25% | 1.46% | 1.36% | 1.05% | 1.22% | 1.44% |
Portfolio Turnover Rate3 | 5% | 11% | 11% | 19% | 19% | 13% |
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 | 99,547,991 | 1,685 | 3,152 | 99,552,828 |
Preferred Stocks | 110 | — | — | 110 |
Rights | 5 | — | 2,515 | 2,520 |
Warrants | — | — | — | — |
Temporary Cash Investments | 2,185,816 | — | — | 2,185,816 |
Total | 101,733,922 | 1,685 | 5,667 | 101,741,274 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 1,456 | — | — | 1,456 |
Swap Contracts | — | 2,355 | — | 2,355 |
Total | 1,456 | 2,355 | — | 3,811 |
Liabilities | ||||
Futures Contracts1 | 61 | — | — | 61 |
Swap Contracts | — | 491 | — | 491 |
Total | 61 | 491 | — | 552 |
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 | 87,285,327 |
Gross Unrealized Appreciation | 34,354,262 |
Gross Unrealized Depreciation | (19,895,056) |
Net Unrealized Appreciation (Depreciation) | 14,459,206 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 5,800 | 46 | 7,047 | 64 | |
Issued in Lieu of Cash Distributions | 1,056 | 8 | 2,799 | 25 | |
Redeemed | (49,595) | (396) | (54,161) | (496) | |
Net Increase (Decrease)—Investor Shares | (42,739) | (342) | (44,315) | (407) | |
ETF Shares | |||||
Issued | 5,596,770 | 33,138 | 10,241,871 | 68,864 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (5,292,304) | (31,450) | (9,083,685) | (60,200) | |
Net Increase (Decrease)—ETF Shares | 304,466 | 1,688 | 1,158,186 | 8,664 | |
Admiral Shares | |||||
Issued | 802,375 | 6,334 | 1,528,622 | 13,910 | |
Issued in Lieu of Cash Distributions | 117,671 | 911 | 253,200 | 2,264 | |
Redeemed | (1,692,348) | (13,319) | (2,767,756) | (25,026) | |
Net Increase (Decrease)—Admiral Shares | (772,302) | (6,074) | (985,934) | (8,852) | |
Institutional Shares | |||||
Issued | 1,278,825 | 10,076 | 2,289,403 | 20,910 | |
Issued in Lieu of Cash Distributions | 84,369 | 653 | 183,474 | 1,642 | |
Redeemed | (1,937,214) | (15,168) | (3,300,533) | (29,875) | |
Net Increase (Decrease)—Institutional Shares | (574,020) | (4,439) | (827,656) | (7,323) | |
Institutional Plus Shares | |||||
Issued | 889,009 | 2,833 | 1,568,473 | 5,907 | |
Issued in Lieu of Cash Distributions | 74,809 | 235 | 152,432 | 552 | |
Redeemed | (1,117,632) | (3,531) | (2,377,771) | (8,729) | |
Net Increase (Decrease)—Institutional Plus Shares | (153,814) | (463) | (656,866) | (2,270) | |
Institutional Select Shares | |||||
Issued | 2,438,033 | 11,797 | 3,253,688 | 18,298 | |
Issued in Lieu of Cash Distributions | 184,398 | 888 | 358,784 | 1,994 | |
Redeemed | (1,357,483) | (6,625) | (2,735,437) | (15,917) | |
Net Increase (Decrease)—Institutional Select Shares | 1,264,948 | 6,060 | 877,035 | 4,375 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.6%) | ||||||
Basic Materials (3.4%) | ||||||
Newmont Corp. | 24,701,686 | 1,034,260 | ||||
Nucor Corp. | 5,135,900 | 811,883 | ||||
Fastenal Co. | 12,261,872 | 770,536 | ||||
LyondellBasell Industries NV Class A | 5,579,967 | 533,780 | ||||
International Flavors & Fragrances Inc. | 5,469,792 | 520,779 | ||||
Avery Dennison Corp. | 1,725,562 | 377,294 | ||||
International Paper Co. | 7,440,149 | 321,042 | ||||
Celanese Corp. Class A | 2,339,550 | 315,582 | ||||
CF Industries Holdings Inc. | 3,915,342 | 290,205 | ||||
1 | Albemarle Corp. | 2,517,503 | 240,472 | |||
Steel Dynamics Inc. | 1,598,806 | 207,045 | ||||
Westlake Corp. | 413,964 | 59,950 | ||||
5,482,828 | ||||||
Consumer Discretionary (12.3%) | ||||||
* | Copart Inc. | 18,552,169 | 1,004,786 | |||
* | Trade Desk Inc. Class A | 9,187,121 | 897,306 | |||
DR Horton Inc. | 6,348,730 | 894,727 | ||||
Yum! Brands Inc. | 6,032,902 | 799,118 | ||||
Electronic Arts Inc. | 5,706,157 | 795,039 | ||||
Lennar Corp. Class A | 5,249,953 | 786,810 | ||||
* | Royal Caribbean Cruises Ltd. | 4,685,812 | 747,059 | |||
Delta Air Lines Inc. | 13,823,149 | 655,770 | ||||
Tractor Supply Co. | 2,309,418 | 623,543 | ||||
Dollar General Corp. | 4,710,325 | 622,846 | ||||
Hilton Worldwide Holdings Inc. | 2,678,234 | 584,391 | ||||
eBay Inc. | 10,839,077 | 582,275 | ||||
* | AutoZone Inc. | 185,323 | 549,316 | |||
* | Take-Two Interactive Software Inc. | 3,487,704 | 542,303 | |||
Garmin Ltd. | 3,291,617 | 536,270 | ||||
PulteGroup Inc. | 4,505,727 | 496,081 | ||||
* | NVR Inc. | 63,743 | 483,718 | |||
* | Dollar Tree Inc. | 4,435,901 | 473,621 | |||
Genuine Parts Co. | 2,983,968 | 412,742 | ||||
* | Aptiv plc | 5,827,822 | 410,395 | |||
* | Carnival Corp. | 21,637,128 | 405,047 | |||
* | ROBLOX Corp. Class A | 10,766,242 | 400,612 | |||
* | Ulta Beauty Inc. | 1,022,130 | 394,409 | |||
Darden Restaurants Inc. | 2,556,847 | 386,902 | ||||
Domino's Pizza Inc. | 747,182 | 385,793 | ||||
Omnicom Group Inc. | 4,196,087 | 376,389 | ||||
* | Lululemon Athletica Inc. | 1,230,070 | 367,422 | |||
Southwest Airlines Co. | 12,819,414 | 366,763 | ||||
Las Vegas Sands Corp. | 7,979,807 | 353,107 | ||||
* | Warner Bros Discovery Inc. | 47,243,393 | 351,491 | |||
Best Buy Co. Inc. | 4,152,307 | 349,998 | ||||
* | Expedia Group Inc. | 2,725,304 | 343,361 | |||
* | United Airlines Holdings Inc. | 7,043,248 | 342,724 | |||
* | Burlington Stores Inc. | 1,367,219 | 328,133 | |||
* | Live Nation Entertainment Inc. | 3,470,986 | 325,370 | |||
Rollins Inc. | 6,223,635 | 303,651 | ||||
News Corp. Class A | 10,251,035 | 282,621 | ||||
* | MGM Resorts International | 5,039,577 | 223,959 | |||
Fox Corp. Class A | 5,177,227 | 177,941 | ||||
Pool Corp. | 389,950 | 119,843 | ||||
LKQ Corp. | 2,856,670 | 118,809 | ||||
1 | Warner Music Group Corp. Class A | 2,728,006 | 83,613 | |||
Fox Corp. Class B | 2,283,701 | 73,124 | ||||
Endeavor Group Holdings Inc. Class A | 1,462,542 | 39,533 | ||||
Lennar Corp. Class B | 212,879 | 29,682 |
Shares | Market Value• ($000) | |||||
News Corp. Class B | 355,310 | 10,087 | ||||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 264,051 | 5,849 | |||
* | Liberty Media Corp.-Liberty SiriusXM | 217,600 | 4,822 | |||
Sirius XM Holdings Inc. | 878,000 | 2,485 | ||||
* | Chipotle Mexican Grill Inc. Class A | 1,100 | 69 | |||
19,851,725 | ||||||
Consumer Staples (5.5%) | ||||||
Cencora Inc. | 3,585,689 | 807,856 | ||||
Corteva Inc. | 14,733,156 | 794,706 | ||||
General Mills Inc. | 12,093,275 | 765,020 | ||||
Kenvue Inc. | 41,016,498 | 745,680 | ||||
Kroger Co. | 13,913,395 | 694,696 | ||||
Archer-Daniels-Midland Co. | 10,591,360 | 640,248 | ||||
Hershey Co. | 3,162,079 | 581,285 | ||||
Church & Dwight Co. Inc. | 5,237,991 | 543,075 | ||||
McCormick & Co. Inc. (Non-Voting) | 5,392,628 | 382,553 | ||||
Sysco Corp. | 5,333,703 | 380,773 | ||||
Clorox Co. | 2,660,228 | 363,041 | ||||
Tyson Foods Inc. Class A | 6,126,838 | 350,087 | ||||
Kellanova | 5,858,842 | 337,938 | ||||
Conagra Brands Inc. | 10,240,922 | 291,047 | ||||
Brown-Forman Corp. Class B | 6,499,216 | 280,701 | ||||
Hormel Foods Corp. | 6,459,947 | 196,964 | ||||
Campbell Soup Co. | 4,150,846 | 187,577 | ||||
Walgreens Boots Alliance Inc. | 14,783,848 | 178,811 | ||||
Lamb Weston Holdings Inc. | 1,546,501 | 130,030 | ||||
J M Smucker Co. | 1,080,031 | 117,767 | ||||
Brown-Forman Corp. Class A | 1,086,954 | 47,967 | ||||
8,817,822 | ||||||
Energy (5.1%) | ||||||
ONEOK Inc. | 12,502,348 | 1,019,567 | ||||
Hess Corp. | 6,270,013 | 924,952 | ||||
Cheniere Energy Inc. | 4,658,357 | 814,421 | ||||
Diamondback Energy Inc. | 3,820,356 | 764,797 | ||||
Baker Hughes Co. Class A | 21,377,887 | 751,860 | ||||
Devon Energy Corp. | 13,538,027 | 641,703 | ||||
Halliburton Co. | 17,067,057 | 576,525 | ||||
Williams Cos. Inc. | 13,053,570 | 554,777 | ||||
* | First Solar Inc. | 2,178,287 | 491,117 | |||
Coterra Energy Inc. | 15,145,264 | 403,924 | ||||
Kinder Morgan Inc. | 20,205,200 | 401,477 | ||||
Marathon Oil Corp. | 12,082,373 | 346,402 | ||||
* | Enphase Energy Inc. | 2,768,853 | 276,082 | |||
EQT Corp. | 4,729,704 | 174,904 | ||||
1 | Texas Pacific Land Corp. | 196,986 | 144,641 | |||
8,287,149 | ||||||
Financials (12.6%) | ||||||
Arthur J Gallagher & Co. | 4,680,490 | 1,213,698 | ||||
Apollo Global Management Inc. | 8,532,077 | 1,007,382 | ||||
Ameriprise Financial Inc. | 2,127,662 | 908,916 | ||||
Allstate Corp. | 5,653,333 | 902,611 | ||||
Prudential Financial Inc. | 7,690,137 | 901,207 | ||||
* | Coinbase Global Inc. Class A | 3,665,069 | 814,488 | |||
MSCI Inc. Class A | 1,612,198 | 776,676 | ||||
* | Arch Capital Group Ltd. | 7,641,308 | 770,932 | |||
Discover Financial Services | 5,368,075 | 702,198 | ||||
Hartford Financial Services Group Inc. | 6,335,473 | 636,969 | ||||
Willis Towers Watson plc | 2,189,984 | 574,082 | ||||
Nasdaq Inc. | 9,262,438 | 558,155 | ||||
T. Rowe Price Group Inc. | 4,783,226 | 551,554 | ||||
M&T Bank Corp. | 3,574,152 | 540,984 | ||||
Fifth Third Bancorp | 14,652,719 | 534,678 | ||||
American International Group Inc. | 7,108,220 | 527,714 | ||||
Ares Management Corp. Class A | 3,890,990 | 518,591 | ||||
Broadridge Financial Solutions Inc. | 2,531,564 | 498,718 | ||||
Raymond James Financial Inc. | 3,996,103 | 493,958 | ||||
State Street Corp. | 6,130,614 | 453,666 | ||||
LPL Financial Holdings Inc. | 1,600,356 | 446,980 |
Shares | Market Value• ($000) | |||||
* | Markel Group Inc. | 264,603 | 416,924 | |||
Huntington Bancshares Inc. | 31,044,014 | 409,160 | ||||
Cincinnati Financial Corp. | 3,353,651 | 396,066 | ||||
Principal Financial Group Inc. | 5,020,602 | 393,866 | ||||
Regions Financial Corp. | 19,617,596 | 393,137 | ||||
Cboe Global Markets Inc. | 2,252,525 | 383,064 | ||||
Everest Group Ltd. | 930,933 | 354,704 | ||||
Northern Trust Corp. | 4,163,475 | 349,649 | ||||
Citizens Financial Group Inc. | 9,259,584 | 333,623 | ||||
FactSet Research Systems Inc. | 816,485 | 333,346 | ||||
W R Berkley Corp. | 4,107,454 | 322,764 | ||||
Loews Corp. | 4,031,968 | 301,349 | ||||
KeyCorp | 20,196,768 | 286,996 | ||||
Fidelity National Financial Inc. | 5,560,392 | 274,795 | ||||
Interactive Brokers Group Inc. Class A | 2,179,756 | 267,238 | ||||
Tradeweb Markets Inc. Class A | 2,488,438 | 263,774 | ||||
Brown & Brown Inc. | 2,444,190 | 218,535 | ||||
Franklin Resources Inc. | 6,761,416 | 151,118 | ||||
Corebridge Financial Inc. | 4,513,393 | 131,430 | ||||
* | Rocket Cos. Inc. Class A | 2,843,826 | 38,960 | |||
20,354,655 | ||||||
Health Care (9.3%) | ||||||
* | Dexcom Inc. | 8,518,777 | 965,859 | |||
* | Moderna Inc. | 7,388,413 | 877,374 | |||
* | IDEXX Laboratories Inc. | 1,769,104 | 861,907 | |||
Agilent Technologies Inc. | 6,277,494 | 813,752 | ||||
* | IQVIA Holdings Inc. | 3,707,738 | 783,964 | |||
* | Centene Corp. | 11,458,237 | 759,681 | |||
GE HealthCare Technologies Inc. | 9,289,047 | 723,803 | ||||
* | Biogen Inc. | 3,118,799 | 723,000 | |||
* | Alnylam Pharmaceuticals Inc. | 2,709,571 | 658,426 | |||
ResMed Inc. | 3,146,901 | 602,380 | ||||
* | Veeva Systems Inc. Class A | 3,111,288 | 569,397 | |||
West Pharmaceutical Services Inc. | 1,560,361 | 513,967 | ||||
Cardinal Health Inc. | 5,217,488 | 512,983 | ||||
Zimmer Biomet Holdings Inc. | 4,406,957 | 478,287 | ||||
STERIS plc | 2,118,561 | 465,109 | ||||
Cooper Cos. Inc. | 4,257,596 | 371,688 | ||||
* | Hologic Inc. | 4,999,314 | 371,199 | |||
* | Align Technology Inc. | 1,531,969 | 369,863 | |||
Labcorp Holdings Inc. | 1,805,662 | 367,470 | ||||
Baxter International Inc. | 10,915,731 | 365,131 | ||||
* | Molina Healthcare Inc. | 1,198,844 | 356,416 | |||
* | Illumina Inc. | 3,412,312 | 356,177 | |||
* | BioMarin Pharmaceutical Inc. | 4,067,411 | 334,870 | |||
Quest Diagnostics Inc. | 2,379,712 | 325,735 | ||||
* | Avantor Inc. | 14,550,554 | 308,472 | |||
Revvity Inc. | 2,643,160 | 277,162 | ||||
Viatris Inc. | 25,505,941 | 271,128 | ||||
* | Incyte Corp. | 3,586,148 | 217,392 | |||
Royalty Pharma plc Class A | 8,211,472 | 216,537 | ||||
* | Insulet Corp. | 750,157 | 151,382 | |||
14,970,511 | ||||||
Industrials (20.6%) | ||||||
TransDigm Group Inc. | 1,138,753 | 1,454,882 | ||||
Cintas Corp. | 1,847,449 | 1,293,695 | ||||
Carrier Global Corp. | 18,335,393 | 1,156,597 | ||||
PACCAR Inc. | 11,227,709 | 1,155,780 | ||||
United Rentals Inc. | 1,426,415 | 922,505 | ||||
L3Harris Technologies Inc. | 4,063,149 | 912,502 | ||||
Fidelity National Information Services Inc. | 11,915,422 | 897,946 | ||||
WW Grainger Inc. | 945,989 | 853,509 | ||||
Ferguson plc | 4,324,123 | 837,366 | ||||
Otis Worldwide Corp. | 8,660,892 | 833,697 | ||||
AMETEK Inc. | 4,958,298 | 826,598 | ||||
Verisk Analytics Inc. Class A | 3,056,250 | 823,812 | ||||
Cummins Inc. | 2,929,945 | 811,390 | ||||
Dow Inc. | 15,064,353 | 799,164 | ||||
Quanta Services Inc. | 3,135,730 | 796,758 |
Shares | Market Value• ($000) | |||||
Ingersoll Rand Inc. | 8,641,950 | 785,035 | ||||
* | Fair Isaac Corp. | 502,867 | 748,598 | |||
Old Dominion Freight Line Inc. | 4,189,013 | 739,780 | ||||
Martin Marietta Materials Inc. | 1,320,420 | 715,404 | ||||
Vulcan Materials Co. | 2,833,027 | 704,517 | ||||
Xylem Inc. | 5,193,474 | 704,391 | ||||
Howmet Aerospace Inc. | 8,743,725 | 678,775 | ||||
Rockwell Automation Inc. | 2,442,019 | 672,239 | ||||
DuPont de Nemours Inc. | 8,060,480 | 648,788 | ||||
Equifax Inc. | 2,647,853 | 641,998 | ||||
* | Mettler-Toledo International Inc. | 457,490 | 639,383 | |||
PPG Industries Inc. | 5,041,524 | 634,677 | ||||
Westinghouse Air Brake Technologies Corp. | 3,778,388 | 597,174 | ||||
Fortive Corp. | 7,540,753 | 558,770 | ||||
Dover Corp. | 2,943,889 | 531,225 | ||||
* | Keysight Technologies Inc. | 3,739,114 | 511,324 | |||
* | GE Vernova Inc. | 2,935,581 | 503,481 | |||
Johnson Controls International plc | 7,215,302 | 479,601 | ||||
Veralto Corp. | 5,023,303 | 479,575 | ||||
Synchrony Financial | 8,601,585 | 405,909 | ||||
Global Payments Inc. | 4,167,672 | 403,014 | ||||
Ball Corp. | 6,648,513 | 399,044 | ||||
* | Teledyne Technologies Inc. | 1,015,841 | 394,126 | |||
* | Block Inc. Class A | 5,960,805 | 384,412 | |||
* | Corpay Inc. | 1,429,945 | 380,952 | |||
Expeditors International of Washington Inc. | 3,025,873 | 377,599 | ||||
Jacobs Solutions Inc. | 2,682,242 | 374,736 | ||||
* | Waters Corp. | 1,270,666 | 368,646 | |||
Packaging Corp. of America | 1,923,579 | 351,169 | ||||
Textron Inc. | 4,085,040 | 350,742 | ||||
* | Zebra Technologies Corp. Class A | 1,101,444 | 340,269 | |||
Masco Corp. | 4,717,730 | 314,531 | ||||
TransUnion | 4,159,929 | 308,500 | ||||
Snap-on Inc. | 1,129,281 | 295,183 | ||||
* | Trimble Inc. | 5,231,173 | 292,527 | |||
HEICO Corp. Class A | 1,613,728 | 286,469 | ||||
JB Hunt Transport Services Inc. | 1,768,489 | 282,958 | ||||
Stanley Black & Decker Inc. | 3,296,135 | 263,328 | ||||
Hubbell Inc. Class B | 574,994 | 210,149 | ||||
HEICO Corp. | 880,316 | 196,847 | ||||
*,1 | Symbotic Inc. Class A | 532,047 | 18,707 | |||
33,350,753 | ||||||
Real Estate (7.5%) | ||||||
Welltower Inc. | 12,808,000 | 1,335,234 | ||||
Digital Realty Trust Inc. | 6,917,391 | 1,051,789 | ||||
Realty Income Corp. | 18,652,901 | 985,246 | ||||
Extra Space Storage Inc. | 4,535,343 | 704,838 | ||||
* | CoStar Group Inc. | 8,747,096 | 648,510 | |||
AvalonBay Communities Inc. | 3,045,755 | 630,136 | ||||
* | CBRE Group Inc. Class A | 6,572,532 | 585,678 | |||
VICI Properties Inc. Class A | 20,295,314 | 581,258 | ||||
Iron Mountain Inc. | 6,279,187 | 562,741 | ||||
Equity Residential | 7,711,308 | 534,702 | ||||
Simon Property Group Inc. | 3,314,629 | 503,161 | ||||
SBA Communications Corp. Class A | 2,301,493 | 451,783 | ||||
Invitation Homes Inc. | 12,465,208 | 447,376 | ||||
Ventas Inc. | 8,670,482 | 444,449 | ||||
Weyerhaeuser Co. | 15,628,926 | 443,705 | ||||
Alexandria Real Estate Equities Inc. | 3,746,133 | 438,185 | ||||
Essex Property Trust Inc. | 1,375,373 | 374,377 | ||||
Mid-America Apartment Communities Inc. | 2,499,568 | 356,463 | ||||
Sun Communities Inc. | 2,669,792 | 321,283 | ||||
WP Carey Inc. | 4,687,440 | 258,044 | ||||
Healthpeak Properties Inc. | 7,537,879 | 147,742 | ||||
UDR Inc. | 3,527,099 | 145,140 | ||||
Host Hotels & Resorts Inc. | 7,536,141 | 135,500 | ||||
12,087,340 | ||||||
Technology (14.4%) | ||||||
Amphenol Corp. Class A | 25,731,257 | 1,733,515 |
Shares | Market Value• ($000) | |||||
* | Palantir Technologies Inc. Class A | 43,084,241 | 1,091,324 | |||
Microchip Technology Inc. | 11,500,614 | 1,052,306 | ||||
* | Super Micro Computer Inc. | 1,066,188 | 873,581 | |||
Monolithic Power Systems Inc. | 990,474 | 813,853 | ||||
* | Datadog Inc. Class A | 5,946,708 | 771,228 | |||
* | DoorDash Inc. Class A | 6,949,721 | 755,991 | |||
Cognizant Technology Solutions Corp. Class A | 10,650,617 | 724,242 | ||||
* | Gartner Inc. | 1,579,801 | 709,425 | |||
HP Inc. | 19,913,705 | 697,378 | ||||
Vertiv Holdings Co. Class A | 7,617,926 | 659,484 | ||||
Marvell Technology Inc. | 9,275,257 | 648,340 | ||||
CDW Corp. | 2,878,934 | 644,421 | ||||
Corning Inc. | 16,514,618 | 641,593 | ||||
* | ON Semiconductor Corp. | 9,215,947 | 631,753 | |||
* | HubSpot Inc. | 1,037,084 | 611,662 | |||
* | ANSYS Inc. | 1,870,065 | 601,226 | |||
* | Atlassian Corp. Class A | 3,370,908 | 596,246 | |||
Hewlett Packard Enterprise Co. | 27,847,422 | 589,530 | ||||
NetApp Inc. | 4,420,906 | 569,413 | ||||
* | Pinterest Inc. Class A | 12,838,907 | 565,811 | |||
* | Western Digital Corp. | 6,994,558 | 529,978 | |||
* | Cloudflare Inc. Class A | 6,127,173 | 507,514 | |||
Teradyne Inc. | 3,344,071 | 495,892 | ||||
Seagate Technology Holdings plc | 4,498,186 | 464,528 | ||||
* | Tyler Technologies Inc. | 909,455 | 457,256 | |||
* | GoDaddy Inc. Class A | 3,019,208 | 421,813 | |||
* | Fortinet Inc. | 6,545,727 | 394,511 | |||
* | MongoDB Inc. Class A | 1,482,104 | 370,467 | |||
* | Zscaler Inc. | 1,926,077 | 370,173 | |||
* | Snap Inc. Class A | 22,281,261 | 370,092 | |||
Skyworks Solutions Inc. | 3,436,926 | 366,307 | ||||
* | VeriSign Inc. | 1,823,361 | 324,193 | |||
* | Okta Inc. Class A | 3,447,758 | 322,745 | |||
* | Zoom Video Communications Inc. Class A | 5,082,320 | 300,822 | |||
* | Akamai Technologies Inc. | 3,262,881 | 293,920 | |||
Gen Digital Inc. | 11,400,946 | 284,796 | ||||
SS&C Technologies Holdings Inc. | 4,503,433 | 282,230 | ||||
* | MicroStrategy Inc. Class A | 168,940 | 232,711 | |||
Leidos Holdings Inc. | 1,448,287 | 211,276 | ||||
Bentley Systems Inc. Class B | 3,398,614 | 167,756 | ||||
* | EPAM Systems Inc. | 589,623 | 110,914 | |||
23,262,216 | ||||||
Telecommunications (0.8%) | ||||||
Motorola Solutions Inc. | 3,572,789 | 1,379,275 | ||||
Utilities (8.1%) | ||||||
Constellation Energy Corp. | 6,750,204 | 1,351,863 | ||||
PG&E Corp. | 56,014,009 | 978,005 | ||||
Waste Connections Inc. | 5,527,142 | 969,240 | ||||
Public Service Enterprise Group Inc. | 10,680,206 | 787,131 | ||||
Exelon Corp. | 21,414,961 | 741,172 | ||||
Consolidated Edison Inc. | 7,388,577 | 660,687 | ||||
Vistra Corp. | 7,442,898 | 639,940 | ||||
Xcel Energy Inc. | 11,902,162 | 635,695 | ||||
Edison International | 8,223,948 | 590,562 | ||||
American Water Works Co. Inc. | 4,173,191 | 539,009 | ||||
WEC Energy Group Inc. | 6,764,989 | 530,781 | ||||
Entergy Corp. | 4,568,517 | 488,831 | ||||
FirstEnergy Corp. | 11,711,586 | 448,202 | ||||
DTE Energy Co. | 3,989,131 | 442,834 | ||||
Dominion Energy Inc. | 8,970,883 | 439,573 | ||||
PPL Corp. | 15,789,871 | 436,590 | ||||
Eversource Energy | 7,512,750 | 426,048 | ||||
CenterPoint Energy Inc. | 13,703,668 | 424,540 | ||||
Ameren Corp. | 5,708,760 | 405,950 | ||||
CMS Energy Corp. | 6,397,183 | 380,824 | ||||
Alliant Energy Corp. | 5,491,973 | 279,541 | ||||
NiSource Inc. | 4,801,999 | 138,346 | ||||
AES Corp. | 7,610,720 | 133,720 |
Shares | Market Value• ($000) | |||||
Evergy Inc. | 2,337,496 | 123,817 | ||||
Avangrid Inc. | 1,661,136 | 59,020 | ||||
13,051,921 | ||||||
Total Common Stocks (Cost $104,815,843) | 160,896,195 | |||||
Temporary Cash Investments (0.5%) | ||||||
Money Market Fund (0.5%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 5.380% (Cost $816,676) | 8,169,048 | 816,823 | |||
Total Investments (100.1%) (Cost $105,632,519) | 161,713,018 | |||||
Other Assets and Liabilities—Net (-0.1%) | (224,048) | |||||
Net Assets (100%) | 161,488,970 |
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 $48,832,000. |
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 $50,337,000 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 Russell 2000 Index | September 2024 | 27 | 2,788 | 48 |
E-mini S&P 500 Index | September 2024 | 212 | 58,528 | (58) |
E-mini S&P Mid-Cap 400 Index | September 2024 | 185 | 54,725 | 465 |
455 |
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) |
Coinbase Global Inc. Class A | 1/31/25 | GSI | 98,040 | (5.330) | — | (9,293) |
Corebridge Financial Inc. | 1/31/25 | CITNA | 20,419 | (0.330) | 125 | — |
CRSP US Mid Cap TR Index | 8/30/24 | BANA | 111,729 | (5.880) | — | (1,151) |
Global Payments Inc. | 8/30/24 | BANA | 132,405 | (5.930) | — | (6,915) |
Molina Healthcare Inc. | 8/30/24 | BANA | 20,448 | (5.330) | — | (1,199) |
Palantir Technologies Inc. Class A | 8/30/24 | BANA | 5,810 | (5.330) | 957 | — |
Sirius XM Holdings Inc. | 1/31/25 | GSI | 3,379 | (5.330) | 224 | — |
Trade Desk Inc. Class A | 8/30/24 | BANA | 32,473 | (5.330) | 1,591 | — |
VICI Properties Inc. Class A | 8/30/24 | BANA | 58,856 | (5.980) | 463 | — |
3,360 | (18,558) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
CITNA—Citibank, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $104,815,843) | 160,896,195 |
Affiliated Issuers (Cost $816,676) | 816,823 |
Total Investments in Securities | 161,713,018 |
Investment in Vanguard | 4,800 |
Cash | 6,632 |
Cash Collateral Pledged—Futures Contracts | 8,765 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 17,100 |
Receivables for Investment Securities Sold | 2,304 |
Receivables for Accrued Income | 149,661 |
Receivables for Capital Shares Issued | 63,146 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 3,360 |
Total Assets | 161,968,786 |
Liabilities | |
Payables for Investment Securities Purchased | 4,686 |
Collateral for Securities on Loan | 50,337 |
Payables for Capital Shares Redeemed | 159,072 |
Payables for Distributions | 243,773 |
Payables to Vanguard | 2,869 |
Variation Margin Payable—Futures Contracts | 521 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 18,558 |
Total Liabilities | 479,816 |
Net Assets | 161,488,970 |
1 Includes $48,832,000 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2024, net assets consisted of: | |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Paid-in Capital | 124,239,930 |
Total Distributable Earnings (Loss) | 37,249,040 |
Net Assets | 161,488,970 |
Investor Shares—Net Assets | |
Applicable to 5,702,458 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 377,019 |
Net Asset Value Per Share—Investor Shares | $66.12 |
ETF Shares—Net Assets | |
Applicable to 262,509,879 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 63,553,462 |
Net Asset Value Per Share—ETF Shares | $242.10 |
Admiral Shares—Net Assets | |
Applicable to 195,698,831 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 58,682,793 |
Net Asset Value Per Share—Admiral Shares | $299.86 |
Institutional Shares—Net Assets | |
Applicable to 334,095,004 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 22,130,827 |
Net Asset Value Per Share—Institutional Shares | $66.24 |
Institutional Plus Shares—Net Assets | |
Applicable to 51,256,654 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 16,744,869 |
Net Asset Value Per Share—Institutional Plus Shares | $326.69 |
Six Months Ended June 30, 2024 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 1,133,043 |
Interest2 | 13,287 |
Securities Lending—Net | 9,176 |
Total Income | 1,155,506 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,519 |
Management and Administrative—Investor Shares | 321 |
Management and Administrative—ETF Shares | 9,319 |
Management and Administrative—Admiral Shares | 12,451 |
Management and Administrative—Institutional Shares | 3,781 |
Management and Administrative—Institutional Plus Shares | 2,054 |
Marketing and Distribution—Investor Shares | 10 |
Marketing and Distribution—ETF Shares | 1,566 |
Marketing and Distribution—Admiral Shares | 1,224 |
Marketing and Distribution—Institutional Shares | 319 |
Marketing and Distribution—Institutional Plus Shares | 221 |
Custodian Fees | 96 |
Shareholders’ Reports—Investor Shares | 1 |
Shareholders’ Reports—ETF Shares | 791 |
Shareholders’ Reports—Admiral Shares | 327 |
Shareholders’ Reports—Institutional Shares | 103 |
Shareholders’ Reports—Institutional Plus Shares | 52 |
Trustees’ Fees and Expenses | 46 |
Other Expenses | 8 |
Total Expenses | 34,209 |
Net Investment Income | 1,121,297 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 2,496,106 |
Futures Contracts | 13,281 |
Swap Contracts | 27,630 |
Realized Net Gain (Loss) | 2,537,017 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 4,020,200 |
Futures Contracts | (7,089) |
Swap Contracts | (58,204) |
Change in Unrealized Appreciation (Depreciation) | 3,954,907 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 7,613,221 |
1 | Dividends are net of foreign withholding taxes of $485,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $13,048,000, $34,000, and $31,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $3,566,977,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 1,121,297 | 2,384,139 | |
Realized Net Gain (Loss) | 2,537,017 | 624,659 | |
Change in Unrealized Appreciation (Depreciation) | 3,954,907 | 18,670,292 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 7,613,221 | 21,679,090 | |
Distributions | |||
Investor Shares | (2,805) | (6,392) | |
ETF Shares | (494,910) | (884,374) | |
Admiral Shares | (459,695) | (872,711) | |
Institutional Shares | (175,517) | (338,375) | |
Institutional Plus Shares | (131,693) | (256,449) | |
Total Distributions | (1,264,620) | (2,358,301) | |
Capital Share Transactions | |||
Investor Shares | (55,437) | (116,598) | |
ETF Shares | 1,729,348 | 2,252,186 | |
Admiral Shares | (981,878) | (1,165,068) | |
Institutional Shares | (622,902) | (1,138,787) | |
Institutional Plus Shares | (390,361) | (455,704) | |
Net Increase (Decrease) from Capital Share Transactions | (321,230) | (623,971) | |
Total Increase (Decrease) | 6,027,371 | 18,696,818 | |
Net Assets | |||
Beginning of Period | 155,461,599 | 136,764,781 | |
End of Period | 161,488,970 | 155,461,599 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $63.51 | $55.66 | $69.54 | $56.52 | $48.64 | $37.71 |
Investment Operations | ||||||
Net Investment Income1 | .412 | .887 | .807 | .652 | .698 | .577 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.672 | 7.851 | (13.875) | 13.065 | 7.937 | 11.018 |
Total from Investment Operations | 3.084 | 8.738 | (13.068) | 13.717 | 8.635 | 11.595 |
Distributions | ||||||
Dividends from Net Investment Income | (.474) | (.888) | (.812) | (.697) | (.755) | (.665) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.474) | (.888) | (.812) | (.697) | (.755) | (.665) |
Net Asset Value, End of Period | $66.12 | $63.51 | $55.66 | $69.54 | $56.52 | $48.64 |
Total Return2 | 4.85% | 15.84% | -18.80% | 24.36% | 18.10% | 30.86% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $377 | $416 | $476 | $740 | $834 | $877 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17%3 | 0.17%3 | 0.17% | 0.17% | 0.17% |
Ratio of Net Investment Income to Average Net Assets | 1.34% | 1.52% | 1.36% | 1.02% | 1.49% | 1.31% |
Portfolio Turnover Rate4 | 10% | 13% | 12% | 16% | 26% | 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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $232.58 | $203.84 | $254.69 | $207.00 | $178.14 | $138.08 |
Investment Operations | ||||||
Net Investment Income1 | 1.686 | 3.589 | 3.302 | 2.741 | 2.772 | 2.663 |
Net Realized and Unrealized Gain (Loss) on Investments | 9.736 | 28.686 | (50.886) | 47.811 | 29.084 | 40.043 |
Total from Investment Operations | 11.422 | 32.275 | (47.584) | 50.552 | 31.856 | 42.706 |
Distributions | ||||||
Dividends from Net Investment Income | (1.902) | (3.535) | (3.266) | (2.862) | (2.996) | (2.646) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.902) | (3.535) | (3.266) | (2.862) | (2.996) | (2.646) |
Net Asset Value, End of Period | $242.10 | $232.58 | $203.84 | $254.69 | $207.00 | $178.14 |
Total Return | 4.90% | 15.99% | -18.68% | 24.52% | 18.22% | 31.04% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $63,553 | $59,376 | $49,861 | $57,774 | $41,587 | $29,014 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04%2 | 0.04%2 | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.48% | 1.68% | 1.53% | 1.16% | 1.61% | 1.62% |
Portfolio Turnover Rate3 | 10% | 13% | 12% | 16% | 26% | 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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $288.07 | $252.47 | $315.46 | $256.40 | $220.66 | $171.04 |
Investment Operations | ||||||
Net Investment Income1 | 2.066 | 4.381 | 4.028 | 3.333 | 3.418 | 3.296 |
Net Realized and Unrealized Gain (Loss) on Investments | 12.065 | 35.571 | (63.000) | 59.242 | 36.010 | 49.578 |
Total from Investment Operations | 14.131 | 39.952 | (58.972) | 62.575 | 39.428 | 52.874 |
Distributions | ||||||
Dividends from Net Investment Income | (2.341) | (4.352) | (4.018) | (3.515) | (3.688) | (3.254) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.341) | (4.352) | (4.018) | (3.515) | (3.688) | (3.254) |
Net Asset Value, End of Period | $299.86 | $288.07 | $252.47 | $315.46 | $256.40 | $220.66 |
Total Return2 | 4.90% | 15.98% | -18.71% | 24.51% | 18.24% | 31.03% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $58,683 | $57,330 | $51,352 | $65,118 | $53,301 | $47,640 |
Ratio of Total Expenses to Average Net Assets | 0.05% | 0.05%3 | 0.05%3 | 0.05% | 0.05% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.47% | 1.65% | 1.51% | 1.14% | 1.61% | 1.62% |
Portfolio Turnover Rate4 | 10% | 13% | 12% | 16% | 26% | 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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $63.64 | $55.77 | $69.69 | $56.64 | $48.74 | $37.78 |
Investment Operations | ||||||
Net Investment Income1 | .459 | .971 | .893 | .743 | .759 | .727 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.661 | 7.866 | (13.919) | 13.090 | 7.961 | 10.957 |
Total from Investment Operations | 3.120 | 8.837 | (13.026) | 13.833 | 8.720 | 11.684 |
Distributions | ||||||
Dividends from Net Investment Income | (.520) | (.967) | (.894) | (.783) | (.820) | (.724) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.520) | (.967) | (.894) | (.783) | (.820) | (.724) |
Net Asset Value, End of Period | $66.24 | $63.64 | $55.77 | $69.69 | $56.64 | $48.74 |
Total Return | 4.90% | 16.00% | -18.70% | 24.53% | 18.26% | 31.04% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $22,131 | $21,867 | $20,231 | $27,312 | $22,291 | $20,425 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04%2 | 0.04%2 | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.48% | 1.66% | 1.51% | 1.15% | 1.62% | 1.62% |
Portfolio Turnover Rate3 | 10% | 13% | 12% | 16% | 26% | 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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $313.84 | $275.06 | $343.68 | $279.34 | $240.40 | $186.34 |
Investment Operations | ||||||
Net Investment Income1 | 2.279 | 4.831 | 4.458 | 3.688 | 3.774 | 3.598 |
Net Realized and Unrealized Gain (Loss) on Investments | 13.155 | 38.747 | (68.641) | 64.544 | 39.230 | 54.052 |
Total from Investment Operations | 15.434 | 43.578 | (64.183) | 68.232 | 43.004 | 57.650 |
Distributions | ||||||
Dividends from Net Investment Income | (2.584) | (4.798) | (4.437) | (3.892) | (4.064) | (3.590) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (2.584) | (4.798) | (4.437) | (3.892) | (4.064) | (3.590) |
Net Asset Value, End of Period | $326.69 | $313.84 | $275.06 | $343.68 | $279.34 | $240.40 |
Total Return | 4.91% | 16.00% | -18.69% | 24.53% | 18.27% | 31.06% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $16,745 | $16,472 | $14,846 | $17,723 | $14,937 | $13,612 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03%2 | 0.03%2 | 0.03% | 0.03% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.49% | 1.67% | 1.53% | 1.16% | 1.63% | 1.62% |
Portfolio Turnover Rate3 | 10% | 13% | 12% | 16% | 26% | 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. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 160,896,195 | — | — | 160,896,195 |
Temporary Cash Investments | 816,823 | — | — | 816,823 |
Total | 161,713,018 | — | — | 161,713,018 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 513 | — | — | 513 |
Swap Contracts | — | 3,360 | — | 3,360 |
Total | 513 | 3,360 | — | 3,873 |
Liabilities | ||||
Futures Contracts1 | 58 | — | — | 58 |
Swap Contracts | — | 18,558 | — | 18,558 |
Total | 58 | 18,558 | — | 18,616 |
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 | 105,700,844 |
Gross Unrealized Appreciation | 60,385,148 |
Gross Unrealized Depreciation | (4,387,717) |
Net Unrealized Appreciation (Depreciation) | 55,997,431 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 13,503 | 206 | 24,944 | 427 | |
Issued in Lieu of Cash Distributions | 2,805 | 42 | 6,392 | 109 | |
Redeemed | (71,745) | (1,100) | (147,934) | (2,529) | |
Net Increase (Decrease)—Investor Shares | (55,437) | (852) | (116,598) | (1,993) | |
ETF Shares | |||||
Issued | 6,863,114 | 28,341 | 14,593,074 | 68,060 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (5,133,766) | (21,125) | (12,340,888) | (57,375) | |
Net Increase (Decrease)—ETF Shares | 1,729,348 | 7,216 | 2,252,186 | 10,685 | |
Admiral Shares | |||||
Issued | 2,881,610 | 9,733 | 5,182,979 | 19,544 | |
Issued in Lieu of Cash Distributions | 405,506 | 1,337 | 769,218 | 2,888 | |
Redeemed | (4,268,994) | (14,386) | (7,117,265) | (26,814) | |
Net Increase (Decrease)—Admiral Shares | (981,878) | (3,316) | (1,165,068) | (4,382) | |
Institutional Shares | |||||
Issued | 1,488,550 | 22,693 | 2,518,909 | 43,175 | |
Issued in Lieu of Cash Distributions | 163,318 | 2,439 | 314,097 | 5,340 | |
Redeemed | (2,274,770) | (34,671) | (3,971,793) | (67,623) | |
Net Increase (Decrease)—Institutional Shares | (622,902) | (9,539) | (1,138,787) | (19,108) | |
Institutional Plus Shares | |||||
Issued | 934,700 | 2,886 | 1,384,915 | 4,823 | |
Issued in Lieu of Cash Distributions | 131,083 | 397 | 254,963 | 879 | |
Redeemed | (1,456,144) | (4,511) | (2,095,582) | (7,190) | |
Net Increase (Decrease)—Institutional Plus Shares | (390,361) | (1,228) | (455,704) | (1,488) |
Shares | Market Value• ($000) | |||||
Common Stocks (99.6%) | ||||||
Basic Materials (1.4%) | ||||||
Fastenal Co. | 4,115,985 | 258,648 | ||||
1 | Albemarle Corp. | 845,069 | 80,721 | |||
339,369 | ||||||
Consumer Discretionary (13.8%) | ||||||
* | Copart Inc. | 6,227,378 | 337,275 | |||
* | Trade Desk Inc. Class A | 3,201,230 | 312,664 | |||
Yum! Brands Inc. | 2,024,440 | 268,157 | ||||
* | Royal Caribbean Cruises Ltd. | 1,572,879 | 250,764 | |||
Tractor Supply Co. | 775,201 | 209,304 | ||||
Hilton Worldwide Holdings Inc. | 898,972 | 196,156 | ||||
* | AutoZone Inc. | 62,204 | 184,379 | |||
* | Take-Two Interactive Software Inc. | 1,170,751 | 182,040 | |||
* | Aptiv plc | 1,956,270 | 137,761 | |||
* | Carnival Corp. | 7,260,759 | 135,921 | |||
* | ROBLOX Corp. Class A | 3,614,155 | 134,483 | |||
* | Ulta Beauty Inc. | 343,102 | 132,393 | |||
* | Lululemon Athletica Inc. | 412,652 | 123,259 | |||
Las Vegas Sands Corp. | 2,677,801 | 118,493 | ||||
* | Expedia Group Inc. | 914,812 | 115,257 | |||
* | Burlington Stores Inc. | 458,939 | 110,145 | |||
* | Live Nation Entertainment Inc. | 1,164,915 | 109,199 | |||
Rollins Inc. | 2,089,090 | 101,927 | ||||
Domino's Pizza Inc. | 196,803 | 101,615 | ||||
* | NVR Inc. | 10,696 | 81,167 | |||
Pool Corp. | 130,909 | 40,232 | ||||
LKQ Corp. | 959,694 | 39,914 | ||||
1 | Warner Music Group Corp. Class A | 916,334 | 28,086 | |||
3,450,591 | ||||||
Consumer Staples (2.1%) | ||||||
Hershey Co. | 1,061,104 | 195,063 | ||||
Church & Dwight Co. Inc. | 1,758,219 | 182,292 | ||||
Brown-Forman Corp. Class B | 2,181,703 | 94,228 | ||||
Lamb Weston Holdings Inc. | 519,114 | 43,647 | ||||
Brown-Forman Corp. Class A | 364,787 | 16,098 | ||||
531,328 | ||||||
Energy (6.3%) | ||||||
Hess Corp. | 2,104,589 | 310,469 | ||||
Diamondback Energy Inc. | 1,282,368 | 256,717 | ||||
Devon Energy Corp. | 4,544,379 | 215,404 | ||||
* | First Solar Inc. | 731,187 | 164,853 | |||
Cheniere Energy Inc. | 782,335 | 136,776 | ||||
Coterra Energy Inc. | 5,083,810 | 135,585 | ||||
Halliburton Co. | 2,864,569 | 96,765 | ||||
* | Enphase Energy Inc. | 929,428 | 92,673 | |||
EQT Corp. | 1,587,613 | 58,710 | ||||
Marathon Oil Corp. | 2,027,854 | 58,139 | ||||
1 | Texas Pacific Land Corp. | 66,120 | 48,550 | |||
1,574,641 | ||||||
Financials (7.4%) | ||||||
Apollo Global Management Inc. | 2,863,956 | 338,147 | ||||
* | Coinbase Global Inc. Class A | 1,364,513 | 303,236 | |||
MSCI Inc. Class A | 541,169 | 260,708 | ||||
Ares Management Corp. Class A | 1,306,029 | 174,068 | ||||
Broadridge Financial Solutions Inc. | 849,768 | 167,404 | ||||
LPL Financial Holdings Inc. | 537,185 | 150,036 | ||||
FactSet Research Systems Inc. | 274,067 | 111,893 | ||||
Interactive Brokers Group Inc. Class A | 731,655 | 89,701 | ||||
Tradeweb Markets Inc. Class A | 835,272 | 88,539 |
Shares | Market Value• ($000) | |||||
Brown & Brown Inc. | 820,426 | 73,354 | ||||
* | Markel Group Inc. | 44,407 | 69,970 | |||
* | Rocket Cos. Inc. Class A | 476,085 | 6,523 | |||
1,833,579 | ||||||
Health Care (12.2%) | ||||||
* | Dexcom Inc. | 2,859,458 | 324,205 | |||
* | Moderna Inc. | 2,480,081 | 294,510 | |||
* | IDEXX Laboratories Inc. | 593,656 | 289,229 | |||
Agilent Technologies Inc. | 2,106,552 | 273,072 | ||||
* | IQVIA Holdings Inc. | 1,244,626 | 263,164 | |||
* | Alnylam Pharmaceuticals Inc. | 909,525 | 221,015 | |||
ResMed Inc. | 1,056,324 | 202,202 | ||||
* | Veeva Systems Inc. Class A | 1,044,360 | 191,128 | |||
West Pharmaceutical Services Inc. | 523,773 | 172,526 | ||||
* | Molina Healthcare Inc. | 424,230 | 126,124 | |||
Cooper Cos. Inc. | 1,429,143 | 124,764 | ||||
* | Align Technology Inc. | 514,246 | 124,154 | |||
* | Illumina Inc. | 1,145,634 | 119,581 | |||
* | BioMarin Pharmaceutical Inc. | 1,365,309 | 112,406 | |||
STERIS plc | 355,563 | 78,060 | ||||
* | Incyte Corp. | 1,203,754 | 72,972 | |||
* | Insulet Corp. | 251,804 | 50,814 | |||
3,039,926 | ||||||
Industrials (20.8%) | ||||||
TransDigm Group Inc. | 382,242 | 488,356 | ||||
Cintas Corp. | 620,127 | 434,250 | ||||
WW Grainger Inc. | 317,542 | 286,499 | ||||
AMETEK Inc. | 1,664,362 | 277,466 | ||||
Verisk Analytics Inc. Class A | 1,025,895 | 276,530 | ||||
Quanta Services Inc. | 1,052,589 | 267,452 | ||||
* | Fair Isaac Corp. | 168,797 | 251,281 | |||
Old Dominion Freight Line Inc. | 1,406,136 | 248,324 | ||||
Martin Marietta Materials Inc. | 443,221 | 240,137 | ||||
Vulcan Materials Co. | 950,950 | 236,482 | ||||
Xylem Inc. | 1,743,289 | 236,442 | ||||
Howmet Aerospace Inc. | 2,935,018 | 227,845 | ||||
Equifax Inc. | 888,819 | 215,503 | ||||
* | Mettler-Toledo International Inc. | 153,572 | 214,631 | |||
Veralto Corp. | 1,686,184 | 160,980 | ||||
* | Teledyne Technologies Inc. | 340,988 | 132,297 | |||
Ingersoll Rand Inc. | 1,450,419 | 131,756 | ||||
* | Block Inc. Class A | 1,999,690 | 128,960 | |||
* | Corpay Inc. | 480,004 | 127,878 | |||
* | Waters Corp. | 426,535 | 123,746 | |||
Rockwell Automation Inc. | 409,868 | 112,829 | ||||
HEICO Corp. Class A | 541,398 | 96,109 | ||||
JB Hunt Transport Services Inc. | 593,621 | 94,979 | ||||
HEICO Corp. | 295,714 | 66,125 | ||||
TransUnion | 698,187 | 51,778 | ||||
* | Trimble Inc. | 877,987 | 49,097 | |||
*,1 | Symbotic Inc. Class A | 178,248 | 6,267 | |||
Ball Corp. | 631 | 38 | ||||
Jack Henry & Associates Inc. | 146 | 24 | ||||
5,184,061 | ||||||
Real Estate (6.6%) | ||||||
Welltower Inc. | 4,299,139 | 448,185 | ||||
Realty Income Corp. | 6,261,186 | 330,716 | ||||
Extra Space Storage Inc. | 1,522,391 | 236,595 | ||||
* | CoStar Group Inc. | 2,936,151 | 217,686 | |||
SBA Communications Corp. Class A | 772,564 | 151,654 | ||||
Invitation Homes Inc. | 4,184,164 | 150,170 | ||||
Sun Communities Inc. | 896,171 | 107,845 | ||||
* | Zillow Group Inc. Class C | 310 | 14 | |||
* | Zillow Group Inc. Class A | 77 | 4 | |||
1,642,869 | ||||||
Technology (23.5%) | ||||||
Amphenol Corp. Class A | 8,637,180 | 581,887 | ||||
* | Palantir Technologies Inc. Class A | 14,552,033 | 368,603 |
Shares | Market Value• ($000) | |||||
Microchip Technology Inc. | 3,860,449 | 353,231 | ||||
* | Super Micro Computer Inc. | 357,888 | 293,235 | |||
Monolithic Power Systems Inc. | 332,471 | 273,185 | ||||
* | Datadog Inc. Class A | 1,996,110 | 258,875 | |||
* | DoorDash Inc. Class A | 2,332,637 | 253,744 | |||
* | Gartner Inc. | 530,289 | 238,132 | |||
Vertiv Holdings Co. Class A | 2,556,354 | 221,304 | ||||
Marvell Technology Inc. | 3,113,448 | 217,630 | ||||
* | ON Semiconductor Corp. | 3,093,534 | 212,062 | |||
* | HubSpot Inc. | 348,120 | 205,318 | |||
* | ANSYS Inc. | 627,720 | 201,812 | |||
* | Atlassian Corp. Class A | 1,131,521 | 200,143 | |||
* | Pinterest Inc. Class A | 4,309,543 | 189,921 | |||
* | Cloudflare Inc. Class A | 2,056,705 | 170,357 | |||
Teradyne Inc. | 1,122,498 | 166,455 | ||||
Seagate Technology Holdings plc | 1,509,448 | 155,881 | ||||
* | Tyler Technologies Inc. | 305,274 | 153,486 | |||
* | GoDaddy Inc. Class A | 1,013,426 | 141,586 | |||
* | Fortinet Inc. | 2,197,303 | 132,431 | |||
* | MongoDB Inc. Class A | 497,498 | 124,355 | |||
* | Zscaler Inc. | 646,522 | 124,255 | |||
* | Snap Inc. Class A | 7,479,234 | 124,230 | |||
* | VeriSign Inc. | 612,035 | 108,820 | |||
* | Okta Inc. Class A | 1,157,289 | 108,334 | |||
* | MicroStrategy Inc. Class A | 56,674 | 78,067 | |||
Bentley Systems Inc. Class B | 1,141,092 | 56,324 | ||||
* | Zoom Video Communications Inc. Class A | 853,471 | 50,517 | |||
* | Akamai Technologies Inc. | 547,936 | 49,358 | |||
* | EPAM Systems Inc. | 198,142 | 37,272 | |||
Skyworks Solutions Inc. | 321 | 34 | ||||
* | Twilio Inc. Class A | 345 | 20 | |||
Paycom Software Inc. | 98 | 14 | ||||
* | Unity Software Inc. | 533 | 9 | |||
5,850,887 | ||||||
Telecommunications (1.9%) | ||||||
Motorola Solutions Inc. | 1,199,264 | 462,976 | ||||
* | Arista Networks Inc. | 501 | 175 | |||
* | Liberty Broadband Corp. Class C | 233 | 13 | |||
* | Liberty Broadband Corp. Class A | 33 | 2 | |||
463,166 | ||||||
Utilities (3.6%) | ||||||
Constellation Energy Corp. | 2,265,869 | 453,786 | ||||
Waste Connections Inc. | 1,855,278 | 325,341 | ||||
Vistra Corp. | 1,248,438 | 107,341 | ||||
886,468 | ||||||
Total Common Stocks (Cost $17,446,004) | 24,796,885 | |||||
Temporary Cash Investments (0.5%) | ||||||
Money Market Fund (0.5%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 5.380% (Cost $135,852) | 1,358,758 | 135,862 | |||
Total Investments (100.1%) (Cost $17,581,856) | 24,932,747 | |||||
Other Assets and Liabilities—Net (-0.1%) | (28,807) | |||||
Net Assets (100%) | 24,903,940 |
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 $21,831,000. |
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 $22,378,000 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 2024 | 129 | 35,613 | (25) |
E-mini S&P Mid-Cap 400 Index | September 2024 | 159 | 47,034 | 101 |
76 |
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) |
Domino's Pizza Inc. | 8/30/24 | BANA | 27,463 | (5.330) | 398 | — |
1 | Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $17,446,004) | 24,796,885 |
Affiliated Issuers (Cost $135,852) | 135,862 |
Total Investments in Securities | 24,932,747 |
Investment in Vanguard | 726 |
Cash | 43 |
Cash Collateral Pledged—Futures Contracts | 3,450 |
Receivables for Accrued Income | 7,311 |
Receivables for Capital Shares Issued | 14,796 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 398 |
Total Assets | 24,959,471 |
Liabilities | |
Payables for Investment Securities Purchased | 469 |
Collateral for Securities on Loan | 22,378 |
Payables for Capital Shares Redeemed | 9,511 |
Payables for Distributions | 22,360 |
Payables to Vanguard | 726 |
Variation Margin Payable—Futures Contracts | 87 |
Total Liabilities | 55,531 |
Net Assets | 24,903,940 |
1 Includes $21,831,000 of securities on loan. | |
At June 30, 2024, net assets consisted of: | |
Paid-in Capital | 21,486,540 |
Total Distributable Earnings (Loss) | 3,417,400 |
Net Assets | 24,903,940 |
Investor Shares—Net Assets | |
Applicable to 531,894 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 47,999 |
Net Asset Value Per Share—Investor Shares | $90.24 |
ETF Shares—Net Assets | |
Applicable to 57,817,269 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 13,266,740 |
Net Asset Value Per Share—ETF Shares | $229.46 |
Admiral Shares—Net Assets | |
Applicable to 117,330,378 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,589,201 |
Net Asset Value Per Share—Admiral Shares | $98.77 |
Six Months Ended June 30, 2024 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 82,136 |
Interest2 | 1,554 |
Securities Lending—Net | 292 |
Total Income | 83,982 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 235 |
Management and Administrative—Investor Shares | 44 |
Management and Administrative—ETF Shares | 3,743 |
Management and Administrative—Admiral Shares | 3,499 |
Marketing and Distribution—Investor Shares | 1 |
Marketing and Distribution—ETF Shares | 318 |
Marketing and Distribution—Admiral Shares | 281 |
Custodian Fees | 31 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 198 |
Shareholders’ Reports—Admiral Shares | 79 |
Trustees’ Fees and Expenses | 7 |
Other Expenses | 7 |
Total Expenses | 8,443 |
Net Investment Income | 75,539 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 561,911 |
Futures Contracts | 3,163 |
Swap Contracts | 5,738 |
Realized Net Gain (Loss) | 570,812 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 463,323 |
Futures Contracts | 33 |
Swap Contracts | (624) |
Change in Unrealized Appreciation (Depreciation) | 462,732 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,109,083 |
1 | Dividends are net of foreign withholding taxes of $157,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,508,000, ($4,000), and $10,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $1,089,681,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 75,539 | 165,474 | |
Realized Net Gain (Loss) | 570,812 | (357,650) | |
Change in Unrealized Appreciation (Depreciation) | 462,732 | 4,491,764 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,109,083 | 4,299,588 | |
Distributions | |||
Investor Shares | (139) | (311) | |
ETF Shares | (45,142) | (83,169) | |
Admiral Shares | (40,031) | (79,306) | |
Total Distributions | (85,312) | (162,786) | |
Capital Share Transactions | |||
Investor Shares | (3,585) | (6,325) | |
ETF Shares | 891,073 | 427,802 | |
Admiral Shares | (12,215) | (37,033) | |
Net Increase (Decrease) from Capital Share Transactions | 875,273 | 384,444 | |
Total Increase (Decrease) | 1,899,044 | 4,521,246 | |
Net Assets | |||
Beginning of Period | 23,004,896 | 18,483,650 | |
End of Period | 24,903,940 | 23,004,896 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $86.36 | $70.68 | $100.07 | $83.37 | $62.43 | $47.02 |
Investment Operations | ||||||
Net Investment Income1 | .221 | .528 | .444 | .229 | .340 | .345 |
Net Realized and Unrealized Gain (Loss) on Investments | 3.915 | 15.674 | (29.381) | 16.697 | 20.984 | 15.485 |
Total from Investment Operations | 4.136 | 16.202 | (28.937) | 16.926 | 21.324 | 15.830 |
Distributions | ||||||
Dividends from Net Investment Income | (.256) | (.522) | (.453) | (.226) | (.384) | (.420) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.256) | (.522) | (.453) | (.226) | (.384) | (.420) |
Net Asset Value, End of Period | $90.24 | $86.36 | $70.68 | $100.07 | $83.37 | $62.43 |
Total Return2 | 4.79% | 22.99% | -28.93% | 20.32% | 34.32% | 33.72% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $48 | $49 | $46 | $86 | $81 | $63 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19% | 0.19%3 | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 0.54% | 0.68% | 0.57% | 0.25% | 0.51% | 0.62% |
Portfolio Turnover Rate4 | 12% | 14% | 22% | 25% | 22% | 18% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $219.60 | $179.73 | $254.49 | $212.00 | $158.76 | $119.58 |
Investment Operations | ||||||
Net Investment Income1 | .712 | 1.601 | 1.405 | .870 | 1.074 | 1.386 |
Net Realized and Unrealized Gain (Loss) on Investments | 9.944 | 39.835 | (74.767) | 42.479 | 53.347 | 39.040 |
Total from Investment Operations | 10.656 | 41.436 | (73.362) | 43.349 | 54.421 | 40.426 |
Distributions | ||||||
Dividends from Net Investment Income | (.796) | (1.566) | (1.398) | (.859) | (1.181) | (1.246) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.796) | (1.566) | (1.398) | (.859) | (1.181) | (1.246) |
Net Asset Value, End of Period | $229.46 | $219.60 | $179.73 | $254.49 | $212.00 | $158.76 |
Total Return | 4.85% | 23.14% | -28.84% | 20.47% | 34.46% | 33.86% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $13,267 | $11,851 | $9,313 | $12,798 | $10,164 | $6,995 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07%2 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.67% | 0.81% | 0.72% | 0.37% | 0.63% | 0.95% |
Portfolio Turnover Rate3 | 12% | 14% | 22% | 25% | 22% | 18% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $94.53 | $77.37 | $109.55 | $91.26 | $68.34 | $51.48 |
Investment Operations | ||||||
Net Investment Income1 | .304 | .684 | .602 | .373 | .461 | .603 |
Net Realized and Unrealized Gain (Loss) on Investments | 4.278 | 17.150 | (32.180) | 18.287 | 22.967 | 16.793 |
Total from Investment Operations | 4.582 | 17.834 | (31.578) | 18.660 | 23.428 | 17.396 |
Distributions | ||||||
Dividends from Net Investment Income | (.342) | (.674) | (.602) | (.370) | (.508) | (.536) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.342) | (.674) | (.602) | (.370) | (.508) | (.536) |
Net Asset Value, End of Period | $98.77 | $94.53 | $77.37 | $109.55 | $91.26 | $68.34 |
Total Return2 | 4.84% | 23.14% | -28.84% | 20.48% | 34.48% | 33.86% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,589 | $11,104 | $9,124 | $12,797 | $10,712 | $8,173 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.67% | 0.81% | 0.71% | 0.37% | 0.63% | 0.96% |
Portfolio Turnover Rate4 | 12% | 14% | 22% | 25% | 22% | 18% |
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. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 24,796,885 | — | — | 24,796,885 |
Temporary Cash Investments | 135,862 | — | — | 135,862 |
Total | 24,932,747 | — | — | 24,932,747 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 101 | — | — | 101 |
Swap Contracts | — | 398 | — | 398 |
Total | 101 | 398 | — | 499 |
Liabilities | ||||
Futures Contracts1 | 25 | — | — | 25 |
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 | 17,596,555 |
Gross Unrealized Appreciation | 8,172,437 |
Gross Unrealized Depreciation | (835,771) |
Net Unrealized Appreciation (Depreciation) | 7,336,666 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 4,688 | 52 | 8,551 | 109 | |
Issued in Lieu of Cash Distributions | 139 | 2 | 311 | 4 | |
Redeemed | (8,412) | (95) | (15,187) | (192) | |
Net Increase (Decrease)—Investor Shares | (3,585) | (41) | (6,325) | (79) | |
ETF Shares | |||||
Issued | 2,574,043 | 11,176 | 2,058,259 | 10,398 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (1,682,970) | (7,325) | (1,630,457) | (8,250) | |
Net Increase (Decrease)—ETF Shares | 891,073 | 3,851 | 427,802 | 2,148 | |
Admiral Shares | |||||
Issued | 904,187 | 9,289 | 1,523,152 | 17,926 | |
Issued in Lieu of Cash Distributions | 35,929 | 359 | 70,921 | 822 | |
Redeemed | (952,331) | (9,786) | (1,631,106) | (19,219) | |
Net Increase (Decrease)—Admiral Shares | (12,215) | (138) | (37,033) | (471) |
Shares | Market Value• ($000) | |||||
Common Stocks (99.7%) | ||||||
Basic Materials (5.1%) | ||||||
Newmont Corp. | 7,911,167 | 331,241 | ||||
Nucor Corp. | 1,645,108 | 260,059 | ||||
LyondellBasell Industries NV Class A | 1,787,574 | 170,999 | ||||
International Flavors & Fragrances Inc. | 1,751,763 | 166,785 | ||||
Avery Dennison Corp. | 553,266 | 120,972 | ||||
International Paper Co. | 2,382,000 | 102,783 | ||||
Celanese Corp. Class A | 749,198 | 101,059 | ||||
CF Industries Holdings Inc. | 1,253,939 | 92,942 | ||||
Steel Dynamics Inc. | 512,173 | 66,326 | ||||
Westlake Corp. | 132,170 | 19,141 | ||||
1,432,307 | ||||||
Consumer Discretionary (10.8%) | ||||||
DR Horton Inc. | 2,033,159 | 286,533 | ||||
Electronic Arts Inc. | 1,828,269 | 254,733 | ||||
Lennar Corp. Class A | 1,631,073 | 244,449 | ||||
Delta Air Lines Inc. | 4,427,457 | 210,039 | ||||
Dollar General Corp. | 1,508,475 | 199,466 | ||||
eBay Inc. | 3,471,728 | 186,501 | ||||
Garmin Ltd. | 1,054,733 | 171,837 | ||||
PulteGroup Inc. | 1,443,000 | 158,874 | ||||
* | Dollar Tree Inc. | 1,420,535 | 151,671 | |||
Genuine Parts Co. | 955,627 | 132,182 | ||||
Darden Restaurants Inc. | 819,013 | 123,933 | ||||
Omnicom Group Inc. | 1,341,971 | 120,375 | ||||
Southwest Airlines Co. | 4,104,471 | 117,429 | ||||
Best Buy Co. Inc. | 1,329,756 | 112,085 | ||||
* | United Airlines Holdings Inc. | 2,254,816 | 109,719 | |||
* | Warner Bros Discovery Inc. | 13,568,936 | 100,953 | |||
News Corp. Class A | 3,399,218 | 93,716 | ||||
* | NVR Inc. | 10,218 | 77,540 | |||
* | MGM Resorts International | 1,613,163 | 71,689 | |||
Fox Corp. Class A | 1,885,272 | 64,797 | ||||
Lennar Corp. Class B | 122,627 | 17,098 | ||||
Fox Corp. Class B | 478,907 | 15,335 | ||||
Endeavor Group Holdings Inc. Class A | 464,270 | 12,549 | ||||
1 | Sirius XM Holdings Inc. | 896,575 | 2,537 | |||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 87,188 | 1,931 | |||
1 | Paramount Global Class A | 93,029 | 1,710 | |||
* | Liberty Media Corp.-Liberty SiriusXM | 39,583 | 877 | |||
News Corp. Class B | 10 | — | ||||
3,040,558 | ||||||
Consumer Staples (8.3%) | ||||||
Cencora Inc. | 1,148,889 | 258,845 | ||||
Corteva Inc. | 4,718,857 | 254,535 | ||||
General Mills Inc. | 3,874,427 | 245,096 | ||||
Kenvue Inc. | 13,137,778 | 238,845 | ||||
Kroger Co. | 4,457,299 | 222,553 | ||||
Archer-Daniels-Midland Co. | 3,391,853 | 205,038 | ||||
McCormick & Co. Inc. (Non-Voting) | 1,727,311 | 122,535 | ||||
Sysco Corp. | 1,709,504 | 122,042 | ||||
Clorox Co. | 852,053 | 116,280 | ||||
Tyson Foods Inc. Class A | 1,961,924 | 112,104 | ||||
Kellanova | 1,877,291 | 108,282 | ||||
Conagra Brands Inc. | 3,279,518 | 93,204 | ||||
Hormel Foods Corp. | 2,069,174 | 63,089 | ||||
Campbell Soup Co. | 1,329,703 | 60,089 | ||||
Walgreens Boots Alliance Inc. | 4,730,401 | 57,214 |
Shares | Market Value• ($000) | |||||
J M Smucker Co. | 345,618 | 37,686 | ||||
2,317,437 | ||||||
Energy (4.1%) | ||||||
ONEOK Inc. | 4,005,112 | 326,617 | ||||
Baker Hughes Co. Class A | 6,847,529 | 240,828 | ||||
Williams Cos. Inc. | 4,182,304 | 177,748 | ||||
Cheniere Energy Inc. | 746,041 | 130,430 | ||||
Kinder Morgan Inc. | 6,470,766 | 128,574 | ||||
Halliburton Co. | 2,732,977 | 92,320 | ||||
Marathon Oil Corp. | 1,931,901 | 55,388 | ||||
1,151,905 | ||||||
Financials (17.2%) | ||||||
Arthur J Gallagher & Co. | 1,499,602 | 388,861 | ||||
Ameriprise Financial Inc. | 681,989 | 291,339 | ||||
Allstate Corp. | 1,810,948 | 289,136 | ||||
Prudential Financial Inc. | 2,462,984 | 288,637 | ||||
* | Arch Capital Group Ltd. | 2,447,750 | 246,954 | |||
Discover Financial Services | 1,719,251 | 224,895 | ||||
Hartford Financial Services Group Inc. | 2,030,081 | 204,104 | ||||
Willis Towers Watson plc | 701,620 | 183,923 | ||||
Nasdaq Inc. | 2,967,565 | 178,825 | ||||
T. Rowe Price Group Inc. | 1,531,897 | 176,643 | ||||
M&T Bank Corp. | 1,144,775 | 173,273 | ||||
Fifth Third Bancorp | 4,694,662 | 171,308 | ||||
American International Group Inc. | 2,275,732 | 168,950 | ||||
Raymond James Financial Inc. | 1,280,435 | 158,275 | ||||
State Street Corp. | 1,962,787 | 145,246 | ||||
Huntington Bancshares Inc. | 9,942,755 | 131,046 | ||||
Cincinnati Financial Corp. | 1,073,907 | 126,828 | ||||
Principal Financial Group Inc. | 1,607,688 | 126,123 | ||||
Regions Financial Corp. | 6,282,924 | 125,910 | ||||
Cboe Global Markets Inc. | 721,635 | 122,721 | ||||
Everest Group Ltd. | 298,084 | 113,576 | ||||
Northern Trust Corp. | 1,333,244 | 111,966 | ||||
Citizens Financial Group Inc. | 2,962,443 | 106,737 | ||||
W R Berkley Corp. | 1,316,090 | 103,418 | ||||
Loews Corp. | 1,292,733 | 96,619 | ||||
KeyCorp | 6,464,805 | 91,865 | ||||
Fidelity National Financial Inc. | 1,780,595 | 87,997 | ||||
* | Markel Group Inc. | 42,376 | 66,770 | |||
Corebridge Financial Inc. | 1,669,045 | 48,603 | ||||
Franklin Resources Inc. | 2,159,661 | 48,268 | ||||
* | Rocket Cos. Inc. Class A | 450,267 | 6,169 | |||
4,804,985 | ||||||
Health Care (6.8%) | ||||||
* | Centene Corp. | 3,669,847 | 243,311 | |||
GE HealthCare Technologies Inc. | 2,975,360 | 231,840 | ||||
* | Biogen Inc. | 998,945 | 231,575 | |||
Cardinal Health Inc. | 1,671,614 | 164,353 | ||||
Zimmer Biomet Holdings Inc. | 1,411,700 | 153,212 | ||||
* | Hologic Inc. | 1,602,242 | 118,966 | |||
Labcorp Holdings Inc. | 578,285 | 117,687 | ||||
Baxter International Inc. | 3,495,699 | 116,931 | ||||
Quest Diagnostics Inc. | 762,174 | 104,326 | ||||
* | Avantor Inc. | 4,661,220 | 98,818 | |||
Revvity Inc. | 846,517 | 88,766 | ||||
Viatris Inc. | 8,163,097 | 86,774 | ||||
STERIS plc | 339,431 | 74,519 | ||||
Royalty Pharma plc Class A | 2,629,922 | 69,351 | ||||
1,900,429 | ||||||
Industrials (20.6%) | ||||||
Carrier Global Corp. | 5,873,270 | 370,486 | ||||
PACCAR Inc. | 3,596,513 | 370,225 | ||||
United Rentals Inc. | 456,856 | 295,463 | ||||
L3Harris Technologies Inc. | 1,301,556 | 292,303 | ||||
Fidelity National Information Services Inc. | 3,816,259 | 287,593 | ||||
Ferguson plc | 1,385,366 | 268,276 | ||||
Otis Worldwide Corp. | 2,774,979 | 267,120 |
Shares | Market Value• ($000) | |||||
Cummins Inc. | 938,466 | 259,889 | ||||
Dow Inc. | 4,825,471 | 255,991 | ||||
DuPont de Nemours Inc. | 2,581,587 | 207,792 | ||||
PPG Industries Inc. | 1,615,026 | 203,316 | ||||
Westinghouse Air Brake Technologies Corp. | 1,210,764 | 191,361 | ||||
Fortive Corp. | 2,415,716 | 179,005 | ||||
Dover Corp. | 943,292 | 170,217 | ||||
Global Payments Inc. | 1,750,551 | 169,278 | ||||
* | Keysight Technologies Inc. | 1,197,626 | 163,775 | |||
* | GE Vernova Inc. | 940,281 | 161,268 | |||
Johnson Controls International plc | 2,311,398 | 153,639 | ||||
Synchrony Financial | 2,752,888 | 129,909 | ||||
Ball Corp. | 2,129,245 | 127,797 | ||||
Ingersoll Rand Inc. | 1,384,241 | 125,744 | ||||
Expeditors International of Washington Inc. | 969,316 | 120,961 | ||||
Jacobs Solutions Inc. | 859,389 | 120,065 | ||||
Packaging Corp. of America | 616,360 | 112,523 | ||||
Textron Inc. | 1,308,520 | 112,350 | ||||
* | Zebra Technologies Corp. Class A | 352,727 | 108,968 | |||
Rockwell Automation Inc. | 390,998 | 107,634 | ||||
Masco Corp. | 1,511,983 | 100,804 | ||||
Snap-on Inc. | 361,737 | 94,554 | ||||
Stanley Black & Decker Inc. | 1,054,528 | 84,246 | ||||
Hubbell Inc. Class B | 184,172 | 67,311 | ||||
TransUnion | 665,645 | 49,364 | ||||
* | Trimble Inc. | 837,765 | 46,848 | |||
5,776,075 | ||||||
Real Estate (8.3%) | ||||||
Digital Realty Trust Inc. | 2,215,678 | 336,894 | ||||
VICI Properties Inc. Class A | 7,157,537 | 204,992 | ||||
AvalonBay Communities Inc. | 976,041 | 201,933 | ||||
* | CBRE Group Inc. Class A | 2,104,793 | 187,558 | |||
Iron Mountain Inc. | 2,011,303 | 180,253 | ||||
Equity Residential | 2,470,260 | 171,288 | ||||
Simon Property Group Inc. | 1,061,901 | 161,197 | ||||
Ventas Inc. | 2,776,577 | 142,327 | ||||
Weyerhaeuser Co. | 5,007,093 | 142,151 | ||||
Alexandria Real Estate Equities Inc. | 1,199,252 | 140,277 | ||||
Essex Property Trust Inc. | 440,649 | 119,945 | ||||
Mid-America Apartment Communities Inc. | 800,682 | 114,185 | ||||
WP Carey Inc. | 1,500,713 | 82,614 | ||||
Healthpeak Properties Inc. | 2,411,896 | 47,273 | ||||
UDR Inc. | 1,130,207 | 46,508 | ||||
Host Hotels & Resorts Inc. | 2,413,996 | 43,404 | ||||
2,322,799 | ||||||
Technology (6.7%) | ||||||
Cognizant Technology Solutions Corp. Class A | 3,411,660 | 231,993 | ||||
HP Inc. | 6,378,770 | 223,385 | ||||
CDW Corp. | 922,366 | 206,462 | ||||
Corning Inc. | 5,289,959 | 205,515 | ||||
Hewlett Packard Enterprise Co. | 8,917,730 | 188,788 | ||||
NetApp Inc. | 1,416,479 | 182,442 | ||||
* | Western Digital Corp. | 2,240,064 | 169,730 | |||
Skyworks Solutions Inc. | 1,100,930 | 117,337 | ||||
Gen Digital Inc. | 3,651,744 | 91,221 | ||||
SS&C Technologies Holdings Inc. | 1,443,704 | 90,477 | ||||
Leidos Holdings Inc. | 464,568 | 67,771 | ||||
* | Zoom Video Communications Inc. Class A | 813,685 | 48,162 | |||
* | Akamai Technologies Inc. | 522,555 | 47,072 | |||
1,870,355 | ||||||
Utilities (11.8%) | ||||||
PG&E Corp. | 17,942,693 | 313,279 | ||||
Public Service Enterprise Group Inc. | 3,422,245 | 252,219 | ||||
Exelon Corp. | 6,857,691 | 237,345 | ||||
Consolidated Edison Inc. | 2,367,451 | 211,698 | ||||
Xcel Energy Inc. | 3,811,417 | 203,568 | ||||
Edison International | 2,634,646 | 189,194 | ||||
American Water Works Co. Inc. | 1,336,609 | 172,636 |
Shares | Market Value• ($000) | |||||
WEC Energy Group Inc. | 2,166,812 | 170,008 | ||||
Entergy Corp. | 1,463,593 | 156,604 | ||||
FirstEnergy Corp. | 3,752,913 | 143,624 | ||||
DTE Energy Co. | 1,277,645 | 141,831 | ||||
PPL Corp. | 5,059,557 | 139,897 | ||||
Eversource Energy | 2,404,999 | 136,388 | ||||
CenterPoint Energy Inc. | 4,391,220 | 136,040 | ||||
Ameren Corp. | 1,828,377 | 130,016 | ||||
CMS Energy Corp. | 2,050,099 | 122,042 | ||||
Vistra Corp. | 1,191,984 | 102,487 | ||||
Dominion Energy Inc. | 2,052,416 | 100,568 | ||||
Alliant Energy Corp. | 1,759,973 | 89,583 | ||||
NiSource Inc. | 1,538,815 | 44,333 | ||||
AES Corp. | 2,435,600 | 42,794 | ||||
Evergy Inc. | 747,364 | 39,588 | ||||
Avangrid Inc. | 529,750 | 18,822 | ||||
3,294,564 | ||||||
Total Common Stocks (Cost $21,112,375) | 27,911,414 | |||||
Temporary Cash Investments (0.5%) | ||||||
Money Market Fund (0.5%) | ||||||
2,3 | Vanguard Market Liquidity Fund, 5.380% (Cost $146,037) | 1,460,610 | 146,046 | |||
Total Investments (100.2%) (Cost $21,258,412) | 28,057,460 | |||||
Other Assets and Liabilities—Net (-0.2%) | (56,642) | |||||
Net Assets (100%) | 28,000,818 |
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 $2,577,000. |
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 $2,707,000 was received for securities on loan, of which $2,637,000 is held in Vanguard Market Liquidity Fund and $70,000 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 2024 | 33 | 9,111 | 20 |
E-mini S&P Mid-Cap 400 Index | September 2024 | 72 | 21,298 | 152 |
172 |
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) |
Dominion Energy Inc. | 1/31/25 | CITNA | 44,214 | (5.330) | — | (3,651) |
Warner Bros Discovery Inc. | 1/31/25 | CITNA | 12,690 | (5.330) | — | (1,279) |
— | (4,930) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
CITNA—Citibank, N.A. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $21,112,375) | 27,911,414 |
Affiliated Issuers (Cost $146,037) | 146,046 |
Total Investments in Securities | 28,057,460 |
Investment in Vanguard | 844 |
Cash | 473 |
Cash Collateral Pledged—Futures Contracts | 1,480 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 4,570 |
Receivables for Investment Securities Sold | 49 |
Receivables for Accrued Income | 41,660 |
Receivables for Capital Shares Issued | 6,078 |
Total Assets | 28,112,614 |
Liabilities | |
Payables for Investment Securities Purchased | 265 |
Collateral for Securities on Loan | 2,707 |
Payables for Capital Shares Redeemed | 9,288 |
Payables for Distributions | 93,773 |
Payables to Vanguard | 817 |
Variation Margin Payable—Futures Contracts | 16 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 4,930 |
Total Liabilities | 111,796 |
Net Assets | 28,000,818 |
1 Includes $2,577,000 of securities on loan. | |
At June 30, 2024, net assets consisted of: | |
Paid-in Capital | 25,401,104 |
Total Distributable Earnings (Loss) | 2,599,714 |
Net Assets | 28,000,818 |
Investor Shares—Net Assets | |
Applicable to 620,588 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 36,771 |
Net Asset Value Per Share—Investor Shares | $59.25 |
ETF Shares—Net Assets | |
Applicable to 106,172,978 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 15,976,374 |
Net Asset Value Per Share—ETF Shares | $150.47 |
Admiral Shares—Net Assets | |
Applicable to 153,783,617 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 11,987,673 |
Net Asset Value Per Share—Admiral Shares | $77.95 |
Six Months Ended June 30, 2024 | |
($000) | |
Investment Income | |
Income | |
Dividends | 286,339 |
Interest1 | 1,464 |
Securities Lending—Net | 3,322 |
Total Income | 291,125 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 277 |
Management and Administrative—Investor Shares | 33 |
Management and Administrative—ETF Shares | 4,655 |
Management and Administrative—Admiral Shares | 3,657 |
Marketing and Distribution—Investor Shares | 1 |
Marketing and Distribution—ETF Shares | 405 |
Marketing and Distribution—Admiral Shares | 313 |
Custodian Fees | 41 |
Shareholders’ Reports—Investor Shares | — |
Shareholders’ Reports—ETF Shares | 362 |
Shareholders’ Reports—Admiral Shares | 94 |
Trustees’ Fees and Expenses | 8 |
Other Expenses | 7 |
Total Expenses | 9,853 |
Net Investment Income | 281,272 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 924,643 |
Futures Contracts | 905 |
Swap Contracts | 3,941 |
Realized Net Gain (Loss) | 929,489 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | 136,133 |
Futures Contracts | 317 |
Swap Contracts | (4,862) |
Change in Unrealized Appreciation (Depreciation) | 131,588 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,342,349 |
1 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,408,000, $3,000, and ($7,000), respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $1,068,779,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 281,272 | 655,158 | |
Realized Net Gain (Loss) | 929,489 | 587,717 | |
Change in Unrealized Appreciation (Depreciation) | 131,588 | 1,331,916 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,342,349 | 2,574,791 | |
Distributions | |||
Investor Shares | (373) | (921) | |
ETF Shares | (172,093) | (379,681) | |
Admiral Shares | (129,216) | (277,948) | |
Total Distributions | (301,682) | (658,550) | |
Capital Share Transactions | |||
Investor Shares | (3,935) | (7,800) | |
ETF Shares | (933,860) | (785,146) | |
Admiral Shares | (433,688) | (570,787) | |
Net Increase (Decrease) from Capital Share Transactions | (1,371,483) | (1,363,733) | |
Total Increase (Decrease) | (330,816) | 552,508 | |
Net Assets | |||
Beginning of Period | 28,331,634 | 27,779,126 | |
End of Period | 28,000,818 | 28,331,634 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $57.07 | $53.27 | $59.16 | $46.83 | $46.96 | $37.50 |
Investment Operations | ||||||
Net Investment Income1 | .547 | 1.202 | 1.129 | 1.006 | 1.0482 | .808 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.232 | 3.830 | (5.876) | 12.311 | (.122) | 9.566 |
Total from Investment Operations | 2.779 | 5.032 | (4.747) | 13.317 | .926 | 10.374 |
Distributions | ||||||
Dividends from Net Investment Income | (.599) | (1.232) | (1.143) | (.987) | (1.056) | (.914) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.599) | (1.232) | (1.143) | (.987) | (1.056) | (.914) |
Net Asset Value, End of Period | $59.25 | $57.07 | $53.27 | $59.16 | $46.83 | $46.96 |
Total Return3 | 4.86% | 9.62% | -8.00% | 28.59% | 2.43% | 27.82% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $37 | $39 | $45 | $57 | $43 | $52 |
Ratio of Total Expenses to Average Net Assets | 0.19% | 0.19%4 | 0.19%4 | 0.19% | 0.19% | 0.19% |
Ratio of Net Investment Income to Average Net Assets | 1.97% | 2.24% | 2.05% | 1.83% | 2.58%2 | 1.90% |
Portfolio Turnover Rate5 | 11% | 22% | 18% | 17% | 39% | 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 | 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 0.19%. |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $144.93 | $135.28 | $150.26 | $118.93 | $119.27 | $95.22 |
Investment Operations | ||||||
Net Investment Income1 | 1.488 | 3.249 | 3.091 | 2.744 | 2.7812 | 2.497 |
Net Realized and Unrealized Gain (Loss) on Investments | 5.668 | 9.695 | (14.996) | 31.258 | (.310) | 23.996 |
Total from Investment Operations | 7.156 | 12.944 | (11.905) | 34.002 | 2.471 | 26.493 |
Distributions | ||||||
Dividends from Net Investment Income | (1.616) | (3.294) | (3.075) | (2.672) | (2.811) | (2.443) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.616) | (3.294) | (3.075) | (2.672) | (2.811) | (2.443) |
Net Asset Value, End of Period | $150.47 | $144.93 | $135.28 | $150.26 | $118.93 | $119.27 |
Total Return | 4.94% | 9.77% | -7.88% | 28.74% | 2.50% | 27.98% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $15,976 | $16,320 | $15,995 | $16,086 | $11,061 | $10,339 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07%3 | 0.07%3 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.10% | 2.38% | 2.22% | 1.96% | 2.69%2 | 2.26% |
Portfolio Turnover Rate4 | 11% | 22% | 18% | 17% | 39% | 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 | 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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $75.08 | $70.08 | $77.84 | $61.61 | $61.79 | $49.33 |
Investment Operations | ||||||
Net Investment Income1 | .770 | 1.677 | 1.586 | 1.413 | 1.4382 | 1.303 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.937 | 5.030 | (7.753) | 16.201 | (.162) | 12.422 |
Total from Investment Operations | 3.707 | 6.707 | (6.167) | 17.614 | 1.276 | 13.725 |
Distributions | ||||||
Dividends from Net Investment Income | (.837) | (1.707) | (1.593) | (1.384) | (1.456) | (1.265) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.837) | (1.707) | (1.593) | (1.384) | (1.456) | (1.265) |
Net Asset Value, End of Period | $77.95 | $75.08 | $70.08 | $77.84 | $61.61 | $61.79 |
Total Return3 | 4.93% | 9.76% | -7.90% | 28.76% | 2.54% | 27.99% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $11,988 | $11,972 | $11,740 | $13,218 | $10,092 | $11,148 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07%4 | 0.07%4 | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.10% | 2.37% | 2.19% | 1.95% | 2.69%2 | 2.28% |
Portfolio Turnover Rate5 | 11% | 22% | 18% | 17% | 39% | 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 | 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 0.07%. |
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. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 27,911,414 | — | — | 27,911,414 |
Temporary Cash Investments | 146,046 | — | — | 146,046 |
Total | 28,057,460 | — | — | 28,057,460 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 172 | — | — | 172 |
Liabilities | ||||
Swap Contracts | — | 4,930 | — | 4,930 |
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 | 21,277,369 |
Gross Unrealized Appreciation | 7,539,289 |
Gross Unrealized Depreciation | (763,956) |
Net Unrealized Appreciation (Depreciation) | 6,775,333 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 1,877 | 32 | 4,382 | 82 | |
Issued in Lieu of Cash Distributions | 373 | 6 | 921 | 17 | |
Redeemed | (6,185) | (106) | (13,103) | (245) | |
Net Increase (Decrease)—Investor Shares | (3,935) | (68) | (7,800) | (146) | |
ETF Shares | |||||
Issued | 1,919,256 | 12,712 | 3,747,400 | 27,552 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (2,853,116) | (19,150) | (4,532,546) | (33,175) | |
Net Increase (Decrease)—ETF Shares | (933,860) | (6,438) | (785,146) | (5,623) | |
Admiral Shares | |||||
Issued | 786,153 | 10,191 | 1,601,367 | 22,657 | |
Issued in Lieu of Cash Distributions | 116,325 | 1,481 | 246,708 | 3,514 | |
Redeemed | (1,336,166) | (17,349) | (2,418,862) | (34,228) | |
Net Increase (Decrease)—Admiral Shares | (433,688) | (5,677) | (570,787) | (8,057) |
Financial Statements | 1 |
Shares | Market Value• ($000) | |||||
Common Stocks (99.8%) | ||||||
Basic Materials (1.7%) | ||||||
Linde plc | 15,182,344 | 6,662,164 | ||||
Freeport-McMoRan Inc. | 45,422,256 | 2,207,522 | ||||
Ecolab Inc. | 8,123,847 | 1,933,476 | ||||
Air Products and Chemicals Inc. | 7,028,375 | 1,813,672 | ||||
Newmont Corp. | 36,487,706 | 1,527,740 | ||||
Nucor Corp. | 7,573,869 | 1,197,277 | ||||
Fastenal Co. | 18,070,912 | 1,135,576 | ||||
LyondellBasell Industries NV Class A | 8,249,009 | 789,100 | ||||
International Flavors & Fragrances Inc. | 8,093,120 | 770,546 | ||||
Steel Dynamics Inc. | 4,710,751 | 610,042 | ||||
Avery Dennison Corp. | 2,542,528 | 555,924 | ||||
Reliance Inc. | 1,808,909 | 516,624 | ||||
International Paper Co. | 10,972,374 | 473,458 | ||||
Celanese Corp. Class A | 3,456,877 | 466,298 | ||||
CF Industries Holdings Inc. | 5,782,924 | 428,630 | ||||
Eastman Chemical Co. | 3,711,137 | 363,580 | ||||
1 | Albemarle Corp. | 3,693,225 | 352,777 | |||
Mosaic Co. | 10,213,791 | 295,179 | ||||
Royal Gold Inc. | 2,080,565 | 260,404 | ||||
* | RBC Bearings Inc. | 918,705 | 247,848 | |||
United States Steel Corp. | 6,352,744 | 240,134 | ||||
* | Cleveland-Cliffs Inc. | 15,062,014 | 231,804 | |||
FMC Corp. | 3,923,572 | 225,802 | ||||
Alcoa Corp. | 5,643,658 | 224,505 | ||||
UFP Industries Inc. | 1,845,076 | 206,649 | ||||
Commercial Metals Co. | 3,679,217 | 202,320 | ||||
Mueller Industries Inc. | 3,406,495 | 193,966 | ||||
Element Solutions Inc. | 6,910,655 | 187,417 | ||||
Olin Corp. | 3,808,320 | 179,562 | ||||
Westlake Corp. | 1,226,406 | 177,608 | ||||
* | Valvoline Inc. | 4,094,394 | 176,878 | |||
Hexcel Corp. | 2,607,375 | 162,831 | ||||
Carpenter Technology Corp. | 1,480,941 | 162,282 | ||||
Cabot Corp. | 1,761,530 | 161,867 | ||||
Timken Co. | 2,014,184 | 161,397 | ||||
Balchem Corp. | 1,017,664 | 156,669 | ||||
Boise Cascade Co. | 1,247,643 | 148,744 | ||||
Ashland Inc. | 1,519,875 | 143,613 | ||||
Avient Corp. | 2,879,001 | 125,668 | ||||
Huntsman Corp. | 5,179,053 | 117,927 | ||||
NewMarket Corp. | 227,071 | 117,071 | ||||
* | Arcadium Lithium plc | 33,783,980 | 113,514 | |||
Chemours Co. | 4,708,713 | 106,276 | ||||
Sensient Technologies Corp. | 1,318,766 | 97,839 | ||||
Innospec Inc. | 790,396 | 97,685 | ||||
Hecla Mining Co. | 18,930,109 | 91,811 | ||||
Scotts Miracle-Gro Co. | 1,361,029 | 88,549 | ||||
Minerals Technologies Inc. | 1,025,843 | 85,309 | ||||
Sylvamo Corp. | 1,116,324 | 76,580 | ||||
*,1 | Uranium Energy Corp. | 12,389,061 | 74,458 | |||
Quaker Chemical Corp. | 427,451 | 72,538 | ||||
Materion Corp. | 650,889 | 70,381 | ||||
* | Coeur Mining Inc. | 11,024,192 | 61,956 | |||
Tronox Holdings plc | 3,714,036 | 58,273 | ||||
Stepan Co. | 672,011 | 56,422 | ||||
Hawkins Inc. | 588,824 | 53,583 | ||||
* | Ingevity Corp. | 1,188,497 | 51,949 | |||
*,1 | MP Materials Corp. | 4,034,408 | 51,358 | |||
Kaiser Aluminum Corp. | 478,482 | 42,059 | ||||
Worthington Steel Inc. | 1,134,843 | 37,858 |
Shares | Market Value• ($000) | |||||
* | US Silica Holdings Inc. | 2,297,394 | 35,495 | |||
*,1 | Energy Fuels Inc. | 4,875,124 | 29,543 | |||
* | Ecovyst Inc. | 3,257,389 | 29,219 | |||
Mativ Holdings Inc. | 1,635,362 | 27,736 | ||||
* | Century Aluminum Co. | 1,587,526 | 26,591 | |||
* | Metallus Inc. | 1,301,536 | 26,382 | |||
* | Clearwater Paper Corp. | 486,842 | 23,597 | |||
Koppers Holdings Inc. | 612,658 | 22,662 | ||||
Haynes International Inc. | 362,188 | 21,260 | ||||
AdvanSix Inc. | 807,634 | 18,511 | ||||
Ryerson Holding Corp. | 911,504 | 17,774 | ||||
Compass Minerals International Inc. | 1,350,886 | 13,955 | ||||
* | LSB Industries Inc. | 1,636,473 | 13,386 | |||
Olympic Steel Inc. | 290,854 | 13,039 | ||||
Radius Recycling Inc. | 818,553 | 12,499 | ||||
*,1 | Ur-Energy Inc. | 8,269,253 | 11,577 | |||
Omega Flex Inc. | 217,420 | 11,149 | ||||
* | Rayonier Advanced Materials Inc. | 2,024,729 | 11,015 | |||
* | Northwest Pipe Co. | 298,954 | 10,156 | |||
* | Intrepid Potash Inc. | 352,625 | 8,262 | |||
*,1 | LanzaTech Global Inc. | 4,315,514 | 7,984 | |||
American Vanguard Corp. | 853,039 | 7,336 | ||||
* | Universal Stainless & Alloy Products Inc. | 256,344 | 7,019 | |||
* | GrafTech International Ltd. | 7,143,691 | 6,929 | |||
*,1 | Piedmont Lithium Inc. | 587,142 | 5,860 | |||
* | Dakota Gold Corp. | 2,051,704 | 5,232 | |||
Northern Technologies International Corp. | 303,498 | 5,026 | ||||
* | NN Inc. | 1,560,348 | 4,681 | |||
*,1 | Contango ORE Inc. | 234,189 | 4,232 | |||
Eastern Co. | 163,461 | 4,163 | ||||
FutureFuel Corp. | 778,344 | 3,993 | ||||
* | Tredegar Corp. | 806,119 | 3,861 | |||
* | Alto Ingredients Inc. | 2,440,141 | 3,526 | |||
*,1 | Idaho Strategic Resources Inc. | 316,425 | 3,120 | |||
Friedman Industries Inc. | 206,582 | 3,119 | ||||
*,1 | ASP Isotopes Inc. | 999,643 | 3,059 | |||
*,1 | Origin Materials Inc. | 3,376,460 | 3,043 | |||
* | Unifi Inc. | 487,932 | 2,874 | |||
* | Ascent Industries Co. | 270,803 | 2,643 | |||
*,1 | American Battery Technology Co. | 1,701,367 | 2,127 | |||
* | Perma-Pipe International Holdings Inc. | 215,853 | 1,921 | |||
*,1 | Glatfelter Corp. | 1,346,195 | 1,871 | |||
*,1 | NioCorp Developments Ltd. | 936,050 | 1,619 | |||
* | Culp Inc. | 342,414 | 1,534 | |||
* | Gold Resource Corp. | 3,809,091 | 1,423 | |||
*,1 | Hycroft Mining Holding Corp. Class A | 460,846 | 1,106 | |||
*,1 | US Gold Corp. | 184,531 | 954 | |||
* | United States Antimony Corp. | 2,524,776 | 849 | |||
* | CPS Technologies Corp. | 412,694 | 702 | |||
* | Westwater Resources Inc. | 1,414,240 | 681 | |||
United-Guardian Inc. | 75,085 | 671 | ||||
* | Paramount Gold Nevada Corp. | 1,223,263 | 489 | |||
Flexible Solutions International Inc. | 277,169 | 485 | ||||
Chicago Rivet & Machine Co. | 28,369 | 420 | ||||
* | Comstock Inc. | 2,159,157 | 354 | |||
* | Ampco-Pittsburgh Corp. | 436,953 | 336 | |||
*,1 | 5E Advanced Materials Inc. | 244,413 | 296 | |||
* | TechPrecision Corp. | 4,847 | 17 | |||
28,190,312 | ||||||
Consumer Discretionary (13.7%) | ||||||
* | Amazon.com Inc. | 295,905,033 | 57,183,648 | |||
* | Tesla Inc. | 85,657,437 | 16,949,894 | |||
Costco Wholesale Corp. | 14,012,783 | 11,910,725 | ||||
Home Depot Inc. | 31,318,898 | 10,781,217 | ||||
Walmart Inc. | 140,013,810 | 9,480,335 | ||||
* | Netflix Inc. | 13,616,174 | 9,189,284 | |||
McDonald's Corp. | 22,762,975 | 5,800,917 | ||||
Walt Disney Co. | 57,600,062 | 5,719,110 | ||||
* | Uber Technologies Inc. | 62,731,377 | 4,559,316 |
Shares | Market Value• ($000) | |||||
Booking Holdings Inc. | 1,071,388 | 4,244,304 | ||||
Lowe's Cos. Inc. | 17,999,412 | 3,968,150 | ||||
TJX Cos. Inc. | 35,780,609 | 3,939,445 | ||||
NIKE Inc. Class B | 38,269,064 | 2,884,339 | ||||
Starbucks Corp. | 35,739,009 | 2,782,282 | ||||
* | Chipotle Mexican Grill Inc. Class A | 43,364,802 | 2,716,805 | |||
Target Corp. | 14,585,736 | 2,159,272 | ||||
* | O'Reilly Automotive Inc. | 1,860,149 | 1,964,429 | |||
* | Airbnb Inc. Class A | 12,555,892 | 1,903,850 | |||
Marriott International Inc. Class A | 7,211,218 | 1,743,456 | ||||
Hilton Worldwide Holdings Inc. | 7,887,647 | 1,721,085 | ||||
General Motors Co. | 35,973,689 | 1,671,338 | ||||
* | AutoZone Inc. | 545,668 | 1,617,415 | |||
Ford Motor Co. | 124,057,892 | 1,555,686 | ||||
Ross Stores Inc. | 10,582,866 | 1,537,902 | ||||
* | Copart Inc. | 27,380,618 | 1,482,934 | |||
* | Trade Desk Inc. Class A | 14,061,354 | 1,373,372 | |||
DR Horton Inc. | 9,365,370 | 1,319,862 | ||||
Yum! Brands Inc. | 8,895,032 | 1,178,236 | ||||
Electronic Arts Inc. | 8,433,612 | 1,175,055 | ||||
* | Royal Caribbean Cruises Ltd. | 6,921,428 | 1,103,483 | |||
* | Lululemon Athletica Inc. | 3,634,262 | 1,085,554 | |||
Lennar Corp. Class A | 7,038,399 | 1,054,845 | ||||
Delta Air Lines Inc. | 20,372,759 | 966,484 | ||||
Tractor Supply Co. | 3,413,654 | 921,687 | ||||
Dollar General Corp. | 6,966,558 | 921,188 | ||||
eBay Inc. | 16,028,119 | 861,031 | ||||
* | Take-Two Interactive Software Inc. | 5,151,968 | 801,080 | |||
Garmin Ltd. | 4,842,061 | 788,869 | ||||
* | Deckers Outdoor Corp. | 805,068 | 779,266 | |||
Estee Lauder Cos. Inc. Class A | 6,977,391 | 742,394 | ||||
PulteGroup Inc. | 6,665,356 | 733,856 | ||||
* | NVR Inc. | 93,824 | 711,989 | |||
* | Dollar Tree Inc. | 6,522,908 | 696,451 | |||
Genuine Parts Co. | 4,417,734 | 611,061 | ||||
* | Aptiv plc | 8,604,387 | 605,921 | |||
* | Carnival Corp. | 32,040,510 | 599,798 | |||
* | ROBLOX Corp. Class A | 15,918,905 | 592,342 | |||
* | Ulta Beauty Inc. | 1,509,108 | 582,320 | |||
Williams-Sonoma Inc. | 2,038,220 | 575,532 | ||||
Darden Restaurants Inc. | 3,773,562 | 571,015 | ||||
Domino's Pizza Inc. | 1,101,572 | 568,775 | ||||
Omnicom Group Inc. | 6,181,471 | 554,478 | ||||
Southwest Airlines Co. | 18,808,445 | 538,110 | ||||
* | DraftKings Inc. Class A | 13,779,929 | 525,980 | |||
Las Vegas Sands Corp. | 11,764,957 | 520,599 | ||||
* | Warner Bros Discovery Inc. | 69,921,917 | 520,219 | |||
Best Buy Co. Inc. | 6,142,015 | 517,710 | ||||
* | Expedia Group Inc. | 4,018,938 | 506,346 | |||
* | United Airlines Holdings Inc. | 10,336,574 | 502,978 | |||
* | Burlington Stores Inc. | 2,019,049 | 484,572 | |||
* | Live Nation Entertainment Inc. | 5,106,992 | 478,729 | |||
Rollins Inc. | 9,167,240 | 447,270 | ||||
RB Global Inc. | 5,824,056 | 444,725 | ||||
* | Liberty Media Corp.-Liberty Formula One Class C | 6,152,493 | 441,995 | |||
* | Carvana Co. Class A | 3,349,162 | 431,104 | |||
Wingstop Inc. | 926,153 | 391,448 | ||||
News Corp. Class A | 14,068,215 | 387,861 | ||||
Toll Brothers Inc. | 3,281,690 | 377,985 | ||||
Dick's Sporting Goods Inc. | 1,747,797 | 375,514 | ||||
* | BJ's Wholesale Club Holdings Inc. | 4,170,861 | 366,368 | |||
* | CarMax Inc. | 4,973,476 | 364,755 | |||
Texas Roadhouse Inc. Class A | 2,104,999 | 361,449 | ||||
Pool Corp. | 1,156,426 | 355,404 | ||||
* | elf Beauty Inc. | 1,668,760 | 351,641 | |||
LKQ Corp. | 8,408,118 | 349,694 | ||||
Interpublic Group of Cos. Inc. | 11,846,831 | 344,624 | ||||
*,1 | Rivian Automotive Inc. Class A | 25,164,955 | 337,714 | |||
* | MGM Resorts International | 7,443,876 | 330,806 | |||
*,1 | Floor & Decor Holdings Inc. Class A | 3,208,703 | 318,977 |
Shares | Market Value• ($000) | |||||
Service Corp. International | 4,385,410 | 311,934 | ||||
Tapestry Inc. | 7,269,943 | 311,081 | ||||
* | Light & Wonder Inc. | 2,844,496 | 298,331 | |||
Churchill Downs Inc. | 2,100,330 | 293,206 | ||||
* | Skechers USA Inc. Class A | 4,151,990 | 286,986 | |||
* | Abercrombie & Fitch Co. Class A | 1,612,274 | 286,727 | |||
Aramark | 8,292,470 | 282,110 | ||||
Murphy USA Inc. | 589,286 | 276,646 | ||||
Bath & Body Works Inc. | 7,035,024 | 274,718 | ||||
Wynn Resorts Ltd. | 3,014,320 | 269,782 | ||||
* | Crocs Inc. | 1,820,567 | 265,694 | |||
Fox Corp. Class A | 7,704,955 | 264,819 | ||||
* | Caesars Entertainment Inc. | 6,547,541 | 260,199 | |||
* | Norwegian Cruise Line Holdings Ltd. | 13,676,409 | 256,980 | |||
New York Times Co. Class A | 4,898,028 | 250,828 | ||||
Tempur Sealy International Inc. | 5,232,261 | 247,695 | ||||
Gentex Corp. | 7,333,832 | 247,223 | ||||
*,1 | GameStop Corp. Class A | 9,994,396 | 246,762 | |||
Hasbro Inc. | 4,149,215 | 242,729 | ||||
H&R Block Inc. | 4,418,185 | 239,598 | ||||
TKO Group Holdings Inc. Class A | 2,173,876 | 234,757 | ||||
BorgWarner Inc. | 7,223,649 | 232,890 | ||||
* | Duolingo Inc. Class A | 1,112,737 | 232,195 | |||
*,1 | American Airlines Group Inc. | 20,489,352 | 232,144 | |||
Lithia Motors Inc. Class A | 864,789 | 218,316 | ||||
* | Etsy Inc. | 3,668,074 | 216,343 | |||
Vail Resorts Inc. | 1,193,891 | 215,056 | ||||
Hyatt Hotels Corp. Class A | 1,367,487 | 207,749 | ||||
* | Planet Fitness Inc. Class A | 2,798,153 | 205,916 | |||
Lear Corp. | 1,771,381 | 202,309 | ||||
* | Bright Horizons Family Solutions Inc. | 1,834,149 | 201,903 | |||
Ralph Lauren Corp. Class A | 1,149,034 | 201,150 | ||||
* | Cava Group Inc. | 2,164,105 | 200,721 | |||
* | Ollie's Bargain Outlet Holdings Inc. | 1,938,072 | 190,261 | |||
Wyndham Hotels & Resorts Inc. | 2,553,397 | 188,951 | ||||
PVH Corp. | 1,781,409 | 188,598 | ||||
U-Haul Holding Co. (XNYS) | 3,078,437 | 184,768 | ||||
Gap Inc. | 7,608,217 | 181,760 | ||||
* | Five Below Inc. | 1,663,295 | 181,249 | |||
1 | Paramount Global Class B | 17,335,024 | 180,111 | |||
* | Taylor Morrison Home Corp. Class A | 3,212,380 | 178,094 | |||
* | Mattel Inc. | 10,920,241 | 177,563 | |||
Meritage Homes Corp. | 1,094,732 | 177,182 | ||||
Whirlpool Corp. | 1,716,691 | 175,446 | ||||
* | SiteOne Landscape Supply Inc. | 1,433,674 | 174,062 | |||
Macy's Inc. | 8,672,815 | 166,518 | ||||
* | Alaska Air Group Inc. | 4,078,568 | 164,774 | |||
Nexstar Media Group Inc. Class A | 989,668 | 164,295 | ||||
* | AutoNation Inc. | 1,018,611 | 162,346 | |||
*,1 | Wayfair Inc. Class A | 2,919,950 | 153,969 | |||
Lennar Corp. Class B | 1,090,413 | 152,036 | ||||
Thor Industries Inc. | 1,611,255 | 150,572 | ||||
VF Corp. | 10,925,928 | 147,500 | ||||
* | Lyft Inc. Class A | 10,458,656 | 147,467 | |||
KB Home | 2,045,331 | 143,541 | ||||
* | Asbury Automotive Group Inc. | 628,072 | 143,119 | |||
* | Grand Canyon Education Inc. | 943,363 | 131,986 | |||
Polaris Inc. | 1,678,235 | 131,423 | ||||
Harley-Davidson Inc. | 3,784,205 | 126,922 | ||||
Academy Sports & Outdoors Inc. | 2,353,521 | 125,325 | ||||
* | Boot Barn Holdings Inc. | 956,395 | 123,308 | |||
1 | Warner Music Group Corp. Class A | 4,022,750 | 123,297 | |||
Group 1 Automotive Inc. | 407,283 | 121,077 | ||||
* | Dutch Bros Inc. Class A | 2,916,021 | 120,723 | |||
* | Capri Holdings Ltd. | 3,639,628 | 120,399 | |||
Signet Jewelers Ltd. | 1,338,990 | 119,947 | ||||
Advance Auto Parts Inc. | 1,864,616 | 118,086 | ||||
Kontoor Brands Inc. | 1,769,127 | 117,028 | ||||
Endeavor Group Holdings Inc. Class A | 4,306,412 | 116,402 | ||||
Boyd Gaming Corp. | 2,074,343 | 114,296 |
Shares | Market Value• ($000) | |||||
* | RH | 463,307 | 113,251 | |||
* | Coty Inc. Class A | 11,183,371 | 112,057 | |||
* | Skyline Champion Corp. | 1,645,608 | 111,490 | |||
American Eagle Outfitters Inc. | 5,579,209 | 111,361 | ||||
* | Madison Square Garden Sports Corp. | 587,291 | 110,487 | |||
* | Liberty Media Corp.-Liberty SiriusXM | 4,894,833 | 108,470 | |||
* | Shake Shack Inc. Class A | 1,185,361 | 106,682 | |||
* | Tri Pointe Homes Inc. | 2,859,156 | 106,504 | |||
Fox Corp. Class B | 3,257,818 | 104,315 | ||||
* | YETI Holdings Inc. | 2,730,256 | 104,159 | |||
* | Brinker International Inc. | 1,404,058 | 101,640 | |||
* | M/I Homes Inc. | 829,271 | 101,287 | |||
* | Goodyear Tire & Rubber Co. | 8,832,420 | 100,248 | |||
1 | Choice Hotels International Inc. | 834,359 | 99,289 | |||
* | SkyWest Inc. | 1,203,571 | 98,777 | |||
* | Chewy Inc. Class A | 3,542,906 | 96,509 | |||
Travel + Leisure Co. | 2,126,488 | 95,649 | ||||
Penske Automotive Group Inc. | 638,764 | 95,189 | ||||
Wendy's Co. | 5,606,788 | 95,091 | ||||
Steven Madden Ltd. | 2,235,176 | 94,548 | ||||
* | Visteon Corp. | 884,582 | 94,385 | |||
* | Hilton Grand Vacations Inc. | 2,296,001 | 92,827 | |||
* | Penn Entertainment Inc. | 4,745,623 | 91,852 | |||
* | Stride Inc. | 1,299,813 | 91,637 | |||
Marriott Vacations Worldwide Corp. | 1,000,786 | 87,389 | ||||
Red Rock Resorts Inc. Class A | 1,586,880 | 87,167 | ||||
* | Sweetgreen Inc. Class A | 2,865,665 | 86,371 | |||
* | Cavco Industries Inc. | 246,666 | 85,388 | |||
* | Urban Outfitters Inc. | 2,073,603 | 85,121 | |||
Columbia Sportswear Co. | 1,049,060 | 82,960 | ||||
* | Frontdoor Inc. | 2,389,726 | 80,749 | |||
LCI Industries | 767,676 | 79,362 | ||||
* | Adtalem Global Education Inc. | 1,161,156 | 79,202 | |||
Newell Brands Inc. | 12,273,091 | 78,671 | ||||
* | ACV Auctions Inc. Class A | 4,308,415 | 78,629 | |||
* | Dorman Products Inc. | 844,078 | 77,216 | |||
Strategic Education Inc. | 689,624 | 76,314 | ||||
*,1 | Lucid Group Inc. | 28,794,568 | 75,154 | |||
Century Communities Inc. | 916,505 | 74,842 | ||||
* | Six Flags Entertainment Corp. | 2,257,898 | 74,827 | |||
Foot Locker Inc. | 2,988,061 | 74,462 | ||||
Kohl's Corp. | 3,234,281 | 74,356 | ||||
Rush Enterprises Inc. Class A | 1,768,031 | 74,027 | ||||
TEGNA Inc. | 5,292,021 | 73,771 | ||||
* | Cinemark Holdings Inc. | 3,362,483 | 72,697 | |||
Laureate Education Inc. | 4,826,785 | 72,112 | ||||
Carter's Inc. | 1,115,308 | 69,116 | ||||
* | Helen of Troy Ltd. | 735,648 | 68,224 | |||
Graham Holdings Co. Class B | 97,064 | 67,901 | ||||
* | Topgolf Callaway Brands Corp. | 4,403,457 | 67,373 | |||
1 | Nordstrom Inc. | 3,099,425 | 65,770 | |||
* | Fox Factory Holding Corp. | 1,361,739 | 65,622 | |||
Inter Parfums Inc. | 557,569 | 64,695 | ||||
PriceSmart Inc. | 785,033 | 63,745 | ||||
HNI Corp. | 1,397,708 | 62,925 | ||||
* | Vista Outdoor Inc. | 1,634,402 | 61,535 | |||
* | Liberty Media Corp.-Liberty SiriusXM Class A | 2,762,485 | 61,189 | |||
* | United Parks & Resorts Inc. | 1,125,731 | 61,138 | |||
MillerKnoll Inc. | 2,297,217 | 60,853 | ||||
* | JetBlue Airways Corp. | 9,963,992 | 60,681 | |||
* | Liberty Media Corp.-Liberty Live Class C | 1,560,786 | 59,731 | |||
Phinia Inc. | 1,476,613 | 58,119 | ||||
* | OPENLANE Inc. | 3,487,466 | 57,857 | |||
* | Sonos Inc. | 3,885,194 | 57,345 | |||
* | LGI Homes Inc. | 640,111 | 57,284 | |||
Levi Strauss & Co. Class A | 2,951,666 | 56,908 | ||||
* | Liberty Media Corp.-Liberty Formula One Class A | 863,941 | 55,491 | |||
Cheesecake Factory Inc. | 1,406,229 | 55,251 | ||||
* | TripAdvisor Inc. | 3,100,362 | 55,217 | |||
Acushnet Holdings Corp. | 865,841 | 54,964 |
Shares | Market Value• ($000) | |||||
* | Green Brick Partners Inc. | 953,498 | 54,578 | |||
Avis Budget Group Inc. | 511,113 | 53,422 | ||||
Bloomin' Brands Inc. | 2,769,096 | 53,250 | ||||
John Wiley & Sons Inc. Class A | 1,303,181 | 53,039 | ||||
* | Hanesbrands Inc. | 10,330,022 | 50,927 | |||
*,1 | QuantumScape Corp. Class A | 10,335,161 | 50,849 | |||
La-Z-Boy Inc. | 1,362,269 | 50,785 | ||||
* | Atlanta Braves Holdings Inc. Class C | 1,286,177 | 50,727 | |||
* | Gentherm Inc. | 1,028,394 | 50,720 | |||
Papa John's International Inc. | 1,059,809 | 49,790 | ||||
Upbound Group Inc. | 1,607,090 | 49,338 | ||||
Dana Inc. | 4,063,066 | 49,244 | ||||
Winnebago Industries Inc. | 899,572 | 48,757 | ||||
Oxford Industries Inc. | 475,943 | 47,666 | ||||
*,1 | AMC Entertainment Holdings Inc. Class A | 9,426,485 | 46,944 | |||
Leggett & Platt Inc. | 4,059,291 | 46,519 | ||||
News Corp. Class B | 1,602,196 | 45,486 | ||||
* | Knowles Corp. | 2,631,309 | 45,416 | |||
Worthington Enterprises Inc. | 950,763 | 45,000 | ||||
* | Central Garden & Pet Co. Class A | 1,356,589 | 44,808 | |||
PROG Holdings Inc. | 1,285,998 | 44,598 | ||||
* | Victoria's Secret & Co. | 2,447,825 | 43,253 | |||
1 | Dillard's Inc. Class A | 97,251 | 42,828 | |||
* | Under Armour Inc. Class A | 6,414,682 | 42,786 | |||
* | ODP Corp. | 1,069,744 | 42,009 | |||
Perdoceo Education Corp. | 1,954,284 | 41,861 | ||||
* | PowerSchool Holdings Inc. Class A | 1,865,999 | 41,780 | |||
* | Madison Square Garden Entertainment Corp. Class A | 1,187,473 | 40,647 | |||
* | Dave & Buster's Entertainment Inc. | 1,018,708 | 40,555 | |||
* | Life Time Group Holdings Inc. | 2,135,014 | 40,202 | |||
* | Cars.com Inc. | 1,985,184 | 39,108 | |||
* | Arlo Technologies Inc. | 2,946,230 | 38,419 | |||
* | Under Armour Inc. Class C | 5,591,329 | 36,511 | |||
Steelcase Inc. Class A | 2,784,849 | 36,092 | ||||
Caleres Inc. | 1,067,586 | 35,871 | ||||
*,1 | Peloton Interactive Inc. Class A | 10,506,677 | 35,513 | |||
* | Sally Beauty Holdings Inc. | 3,245,492 | 34,824 | |||
Buckle Inc. | 933,452 | 34,482 | ||||
* | G-III Apparel Group Ltd. | 1,267,197 | 34,303 | |||
Wolverine World Wide Inc. | 2,434,183 | 32,910 | ||||
Winmark Corp. | 91,278 | 32,187 | ||||
* | Sabre Corp. | 12,052,124 | 32,179 | |||
Jack in the Box Inc. | 626,857 | 31,932 | ||||
* | National Vision Holdings Inc. | 2,412,904 | 31,585 | |||
*,1 | Sphere Entertainment Co. | 884,777 | 31,020 | |||
* | Lions Gate Entertainment Corp. Class B | 3,580,516 | 30,685 | |||
Hibbett Inc. | 347,570 | 30,312 | ||||
1 | Cracker Barrel Old Country Store Inc. | 713,260 | 30,071 | |||
* | Integral Ad Science Holding Corp. | 2,932,917 | 28,508 | |||
Monarch Casino & Resort Inc. | 414,701 | 28,254 | ||||
* | Emerald Holding Inc. | 4,937,557 | 28,095 | |||
Arhaus Inc. Class A | 1,625,904 | 27,543 | ||||
* | Udemy Inc. | 3,103,945 | 26,787 | |||
* | QuinStreet Inc. | 1,597,643 | 26,505 | |||
Allegiant Travel Co. | 522,127 | 26,226 | ||||
*,1 | Vizio Holding Corp. Class A | 2,392,167 | 25,835 | |||
Interface Inc. Class A | 1,747,872 | 25,659 | ||||
* | Beazer Homes USA Inc. | 932,884 | 25,636 | |||
*,1 | XPEL Inc. | 705,238 | 25,078 | |||
* | American Axle & Manufacturing Holdings Inc. | 3,581,154 | 25,032 | |||
Krispy Kreme Inc. | 2,309,725 | 24,853 | ||||
* | BJ's Restaurants Inc. | 691,647 | 24,000 | |||
* | Coursera Inc. | 3,314,917 | 23,735 | |||
Scholastic Corp. | 662,829 | 23,511 | ||||
Camping World Holdings Inc. Class A | 1,304,130 | 23,292 | ||||
* | Sun Country Airlines Holdings Inc. | 1,844,249 | 23,164 | |||
* | Lions Gate Entertainment Corp. Class A | 2,441,798 | 23,002 | |||
* | Liberty Media Corp.-Liberty Live Class A | 610,095 | 22,885 | |||
* | Universal Technical Institute Inc. | 1,446,192 | 22,749 | |||
Matthews International Corp. Class A | 907,731 | 22,739 |
Shares | Market Value• ($000) | |||||
Sturm Ruger & Co. Inc. | 544,821 | 22,692 | ||||
* | Driven Brands Holdings Inc. | 1,778,510 | 22,640 | |||
Sonic Automotive Inc. Class A | 409,742 | 22,319 | ||||
*,1 | Leslie's Inc. | 5,322,389 | 22,301 | |||
Monro Inc. | 923,697 | 22,039 | ||||
* | Malibu Boats Inc. Class A | 615,459 | 21,566 | |||
* | Everi Holdings Inc. | 2,525,894 | 21,218 | |||
1 | Sirius XM Holdings Inc. | 7,413,554 | 20,980 | |||
* | Figs Inc. Class A | 3,916,339 | 20,874 | |||
*,1 | Mister Car Wash Inc. | 2,914,358 | 20,750 | |||
Smith & Wesson Brands Inc. | 1,435,422 | 20,584 | ||||
* | MarineMax Inc. | 634,151 | 20,527 | |||
* | Gannett Co. Inc. | 4,447,422 | 20,503 | |||
Golden Entertainment Inc. | 652,569 | 20,301 | ||||
* | Hovnanian Enterprises Inc. Class A | 142,248 | 20,188 | |||
* | Stagwell Inc. Class A | 2,942,576 | 20,068 | |||
Ethan Allen Interiors Inc. | 706,698 | 19,710 | ||||
* | Viad Corp. | 578,888 | 19,682 | |||
* | Hawaiian Holdings Inc. | 1,566,240 | 19,468 | |||
A-Mark Precious Metals Inc. | 601,141 | 19,459 | ||||
Shoe Carnival Inc. | 523,976 | 19,329 | ||||
* | Rush Street Interactive Inc. | 1,990,866 | 19,092 | |||
*,1 | Beyond Inc. | 1,443,893 | 18,886 | |||
*,1 | Revolve Group Inc. Class A | 1,179,924 | 18,773 | |||
Dine Brands Global Inc. | 509,986 | 18,461 | ||||
* | Thryv Holdings Inc. | 981,926 | 17,498 | |||
*,1 | Luminar Technologies Inc. Class A | 11,718,411 | 17,460 | |||
* | Accel Entertainment Inc. Class A | 1,667,086 | 17,104 | |||
* | Portillo's Inc. Class A | 1,758,869 | 17,096 | |||
1 | Guess? Inc. | 835,307 | 17,040 | |||
* | Dream Finders Homes Inc. Class A | 659,762 | 17,035 | |||
*,1 | U-Haul Holding Co. | 271,612 | 16,767 | |||
*,1 | First Watch Restaurant Group Inc. | 940,156 | 16,509 | |||
* | Instructure Holdings Inc. | 686,927 | 16,081 | |||
* | Daily Journal Corp. | 40,449 | 15,956 | |||
* | Liquidity Services Inc. | 796,281 | 15,910 | |||
* | Central Garden & Pet Co. | 398,968 | 15,360 | |||
Standard Motor Products Inc. | 543,724 | 15,077 | ||||
Rush Enterprises Inc. Class B | 371,826 | 14,590 | ||||
* | Clean Energy Fuels Corp. | 5,401,471 | 14,422 | |||
* | Chuy's Holdings Inc. | 547,171 | 14,183 | |||
* | PlayAGS Inc. | 1,218,411 | 14,012 | |||
* | Clear Channel Outdoor Holdings Inc. | 9,872,509 | 13,920 | |||
* | Corsair Gaming Inc. | 1,234,417 | 13,628 | |||
1 | Sinclair Inc. | 1,019,753 | 13,593 | |||
Gray Television Inc. | 2,574,762 | 13,389 | ||||
* | Stoneridge Inc. | 824,834 | 13,164 | |||
*,1 | Hertz Global Holdings Inc. | 3,572,196 | 12,610 | |||
* | Denny's Corp. | 1,743,651 | 12,380 | |||
Global Industrial Co. | 386,000 | 12,105 | ||||
1 | Spirit Airlines Inc. | 3,290,999 | 12,045 | |||
* | Stitch Fix Inc. Class A | 2,819,632 | 11,701 | |||
Movado Group Inc. | 469,555 | 11,673 | ||||
* | Eastman Kodak Co. | 2,128,139 | 11,449 | |||
Carriage Services Inc. Class A | 425,057 | 11,409 | ||||
* | Lindblad Expeditions Holdings Inc. | 1,178,920 | 11,377 | |||
RCI Hospitality Holdings Inc. | 260,699 | 11,356 | ||||
Arko Corp. | 1,801,796 | 11,297 | ||||
* | Xponential Fitness Inc. Class A | 714,517 | 11,146 | |||
* | Kura Sushi USA Inc. Class A | 173,725 | 10,960 | |||
Haverty Furniture Cos. Inc. | 432,749 | 10,944 | ||||
* | Bally's Corp. | 891,094 | 10,666 | |||
* | Boston Omaha Corp. Class A | 789,973 | 10,633 | |||
* | American Public Education Inc. | 581,601 | 10,225 | |||
* | America's Car-Mart Inc. | 168,604 | 10,152 | |||
1 | Build-A-Bear Workshop Inc. | 399,564 | 10,097 | |||
* | Lovesac Co. | 439,573 | 9,926 | |||
* | Chegg Inc. | 3,118,650 | 9,855 | |||
* | MasterCraft Boat Holdings Inc. | 519,891 | 9,816 | |||
* | Zumiez Inc. | 499,789 | 9,736 |
Shares | Market Value• ($000) | |||||
1 | Bowlero Corp. Class A | 665,920 | 9,649 | |||
* | European Wax Center Inc. Class A | 962,555 | 9,558 | |||
*,1 | OneWater Marine Inc. Class A | 344,004 | 9,484 | |||
* | National CineMedia Inc. | 2,136,699 | 9,380 | |||
* | Lincoln Educational Services Corp. | 789,512 | 9,364 | |||
* | Cardlytics Inc. | 1,134,961 | 9,318 | |||
* | Genesco Inc. | 356,443 | 9,218 | |||
*,1 | AMC Networks Inc. Class A | 952,255 | 9,199 | |||
*,1 | Savers Value Village Inc. | 741,537 | 9,076 | |||
Aaron's Co. Inc. | 905,525 | 9,037 | ||||
* | El Pollo Loco Holdings Inc. | 792,945 | 8,968 | |||
*,1 | Funko Inc. Class A | 916,200 | 8,942 | |||
1 | Designer Brands Inc. Class A | 1,301,813 | 8,891 | |||
* | Petco Health & Wellness Co. Inc. Class A | 2,348,479 | 8,877 | |||
Rocky Brands Inc. | 237,571 | 8,781 | ||||
*,1 | Atlanta Braves Holdings Inc. Class A | 210,977 | 8,720 | |||
*,1 | Wheels Up Experience Inc. | 4,462,681 | 8,434 | |||
Marcus Corp. | 735,658 | 8,364 | ||||
Superior Group of Cos. Inc. | 436,143 | 8,247 | ||||
*,1 | RealReal Inc. | 2,456,704 | 7,837 | |||
* | 1-800-Flowers.com Inc. Class A | 820,497 | 7,811 | |||
J. Jill Inc. | 222,353 | 7,776 | ||||
* | EW Scripps Co. Class A | 2,302,705 | 7,230 | |||
*,1 | Frontier Group Holdings Inc. | 1,461,712 | 7,206 | |||
*,1 | iRobot Corp. | 763,743 | 6,958 | |||
* | Smith Douglas Homes Corp. Class A | 297,310 | 6,951 | |||
*,1 | Cricut Inc. Class A | 1,131,099 | 6,775 | |||
* | Qurate Retail Inc. Class A | 10,701,126 | 6,742 | |||
* | Outbrain Inc. | 1,346,128 | 6,704 | |||
* | Potbelly Corp. | 832,674 | 6,686 | |||
* | Turtle Beach Corp. | 465,570 | 6,676 | |||
* | Legacy Housing Corp. | 288,263 | 6,613 | |||
*,1 | BARK Inc. | 3,615,241 | 6,544 | |||
* | Cooper-Standard Holdings Inc. | 514,169 | 6,396 | |||
Lakeland Industries Inc. | 278,388 | 6,386 | ||||
* | Sleep Number Corp. | 666,153 | 6,375 | |||
Weyco Group Inc. | 208,993 | 6,337 | ||||
* | Holley Inc. | 1,717,446 | 6,148 | |||
Clarus Corp. | 899,792 | 6,056 | ||||
*,1 | Citi Trends Inc. | 283,485 | 6,027 | |||
* | Destination XL Group Inc. | 1,647,809 | 5,998 | |||
Hooker Furnishings Corp. | 411,372 | 5,957 | ||||
*,1 | Blink Charging Co. | 2,145,164 | 5,878 | |||
* | GoPro Inc. Class A | 4,011,242 | 5,696 | |||
* | Tile Shop Holdings Inc. | 771,927 | 5,349 | |||
* | Playstudios Inc. | 2,561,453 | 5,302 | |||
* | Full House Resorts Inc. | 1,033,257 | 5,166 | |||
* | Lands' End Inc. | 371,486 | 5,049 | |||
* | Vera Bradley Inc. | 804,643 | 5,037 | |||
Hamilton Beach Brands Holding Co. Class A | 290,580 | 4,995 | ||||
Johnson Outdoors Inc. Class A | 142,367 | 4,980 | ||||
*,1 | SES AI Corp. | 3,884,660 | 4,856 | |||
*,1 | AMMO Inc. | 2,806,875 | 4,716 | |||
* | Landsea Homes Corp. | 510,629 | 4,693 | |||
* | Kewaunee Scientific Corp. | 96,393 | 4,550 | |||
Bassett Furniture Industries Inc. | 318,860 | 4,531 | ||||
1 | Virco Manufacturing Corp. | 322,246 | 4,492 | |||
* | Tilly's Inc. Class A | 738,888 | 4,455 | |||
Flexsteel Industries Inc. | 141,934 | 4,408 | ||||
* | Universal Electronics Inc. | 378,720 | 4,401 | |||
* | American Outdoor Brands Inc. | 479,165 | 4,312 | |||
* | Angi Inc. Class A | 2,206,396 | 4,236 | |||
1 | Escalade Inc. | 306,815 | 4,231 | |||
* | ONE Group Hospitality Inc. | 946,750 | 4,024 | |||
* | JAKKS Pacific Inc. | 220,775 | 3,954 | |||
* | ThredUp Inc. Class A | 2,309,003 | 3,925 | |||
Townsquare Media Inc. Class A | 352,814 | 3,867 | ||||
Nathan's Famous Inc. | 56,645 | 3,839 | ||||
Entravision Communications Corp. Class A | 1,854,105 | 3,764 | ||||
*,1 | Red Robin Gourmet Burgers Inc. | 492,940 | 3,732 |
Shares | Market Value• ($000) | |||||
*,1 | ContextLogic Inc. Class A | 647,237 | 3,696 | |||
* | Motorcar Parts of America Inc. | 588,822 | 3,633 | |||
* | Strattec Security Corp. | 145,120 | 3,628 | |||
* | iHeartMedia Inc. Class A | 3,277,349 | 3,572 | |||
Lifetime Brands Inc. | 412,426 | 3,543 | ||||
* | Biglari Holdings Inc. Class B | 18,317 | 3,542 | |||
* | LiveOne Inc. | 2,168,361 | 3,404 | |||
Acme United Corp. | 95,934 | 3,364 | ||||
* | Latham Group Inc. | 1,061,196 | 3,215 | |||
*,1 | Traeger Inc. | 1,319,878 | 3,168 | |||
*,1 | Mondee Holdings Inc. Class A | 1,309,000 | 3,142 | |||
1 | Cato Corp. Class A | 552,767 | 3,062 | |||
*,1 | Century Casinos Inc. | 1,084,503 | 3,004 | |||
*,1 | Nerdy Inc. | 1,774,133 | 2,963 | |||
Marine Products Corp. | 290,676 | 2,936 | ||||
Canterbury Park Holding Corp. | 133,795 | 2,922 | ||||
* | Superior Industries International Inc. | 883,561 | 2,872 | |||
*,1 | WW International Inc. | 2,400,773 | 2,809 | |||
*,1 | Sportsman's Warehouse Holdings Inc. | 1,116,772 | 2,691 | |||
*,1 | Canoo Inc. | 1,226,549 | 2,613 | |||
*,1 | Vuzix Corp. | 1,888,919 | 2,550 | |||
*,1 | Noodles & Co. Class A | 1,557,750 | 2,461 | |||
*,1 | Fossil Group Inc. | 1,471,211 | 2,119 | |||
Saga Communications Inc. Class A | 134,076 | 2,112 | ||||
*,1 | Mesa Air Group Inc. | 1,208,445 | 2,066 | |||
* | Solo Brands Inc. Class A | 893,926 | 2,038 | |||
1 | Big 5 Sporting Goods Corp. | 687,266 | 2,034 | |||
* | Gaia Inc. Class A | 447,999 | 1,976 | |||
* | Travelzoo | 249,980 | 1,897 | |||
* | Lee Enterprises Inc. | 167,206 | 1,858 | |||
*,1 | Tupperware Brands Corp. | 1,306,065 | 1,828 | |||
*,1 | Duluth Holdings Inc. Class B | 488,310 | 1,802 | |||
* | Biglari Holdings Inc. Class A | 1,924 | 1,756 | |||
* | CarParts.com Inc. | 1,730,090 | 1,730 | |||
*,1 | Purple Innovation Inc. Class A | 1,645,889 | 1,712 | |||
*,1 | RumbleON Inc. Class B | 413,813 | 1,697 | |||
Crown Crafts Inc. | 322,459 | 1,686 | ||||
* | LL Flooring Holdings Inc. | 1,140,348 | 1,631 | |||
CompX International Inc. | 64,007 | 1,579 | ||||
* | Harte Hanks Inc. | 194,041 | 1,576 | |||
* | Spruce Power Holding Corp. | 429,600 | 1,568 | |||
*,1 | Big Lots Inc. | 897,161 | 1,552 | |||
*,1 | Allbirds Inc. Class A | 3,079,918 | 1,540 | |||
*,1 | Envela Corp. | 323,754 | 1,454 | |||
*,1 | Sonder Holdings Inc. | 304,152 | 1,408 | |||
*,1 | Urban One Inc. | 872,038 | 1,308 | |||
*,1 | Lulu's Fashion Lounge Holdings Inc. | 692,559 | 1,281 | |||
*,1 | Children's Place Inc. | 154,476 | 1,257 | |||
*,1 | VOXX International Corp. Class A | 389,401 | 1,231 | |||
* | GEN Restaurant Group Inc. Class A | 130,100 | 1,179 | |||
*,1 | Grove Collaborative Holdings | 654,497 | 1,158 | |||
*,1 | Rent the Runway Inc. Class A | 64,661 | 1,136 | |||
CuriosityStream Inc. | 986,623 | 1,125 | ||||
*,1 | Surf Air Mobility Inc. | 2,894,155 | 1,113 | |||
*,1 | Vacasa Inc. Class A | 211,888 | 1,032 | |||
NL Industries Inc. | 171,000 | 1,031 | ||||
* | Marchex Inc. Class B | 668,193 | 1,029 | |||
* | Live Ventures Inc. | 45,160 | 1,025 | |||
*,1 | Red Cat Holdings Inc. | 849,136 | 977 | |||
*,1 | Kartoon Studios Inc. | 940,003 | 968 | |||
1 | FAT Brands Inc. Class A | 179,269 | 920 | |||
*,1 | Ondas Holdings Inc. | 1,557,776 | 904 | |||
* | Good Times Restaurants Inc. | 350,945 | 888 | |||
*,1 | Cumulus Media Inc. Class A | 422,698 | 862 | |||
* | Brilliant Earth Group Inc. Class A | 381,195 | 846 | |||
* | SPAR Group Inc. | 329,700 | 795 | |||
Ark Restaurants Corp. | 58,667 | 763 | ||||
* | Reading International Inc. Class A | 508,467 | 722 | |||
*,1 | Kirkland's Inc. | 436,447 | 711 | |||
*,1 | Koss Corp. | 150,699 | 671 |
Shares | Market Value• ($000) | |||||
* | Fluent Inc. | 185,048 | 668 | |||
*,1 | Envirotech Vehicles Inc. | 340,217 | 650 | |||
DallasNews Corp. | 176,590 | 634 | ||||
*,1 | Mullen Automotive Inc. | 241,305 | 579 | |||
* | Container Store Group Inc. | 1,055,567 | 570 | |||
*,1 | Aterian Inc. | 199,372 | 560 | |||
* | FlexShopper Inc. | 425,184 | 544 | |||
*,1 | Lazydays Holdings Inc. | 194,354 | 494 | |||
* | Conn's Inc. | 411,902 | 455 | |||
* | Allied Gaming & Entertainment Inc. | 348,665 | 443 | |||
*,1 | 2U Inc. | 81,525 | 418 | |||
*,2 | Luby's Inc. | 449,752 | 400 | |||
1 | Flanigan's Enterprises Inc. | 14,768 | 397 | |||
Jerash Holdings US Inc. | 119,768 | 365 | ||||
*,1 | Cineverse Corp. Class A | 328,177 | 292 | |||
*,1 | Focus Universal Inc. | 1,187,039 | 285 | |||
*,1 | Hall of Fame Resort & Entertainment Co. | 97,466 | 281 | |||
*,1 | GameSquare Holdings Inc. | 212,162 | 255 | |||
* | Dolphin Entertainment Inc. | 252,290 | 238 | |||
*,1 | Sadot Group Inc. | 608,212 | 232 | |||
*,1 | Inspirato Inc. | 61,860 | 217 | |||
* | Beasley Broadcast Group Inc. Class A | 314,502 | 207 | |||
*,1 | Owlet Inc. | 50,037 | 206 | |||
* | Xcel Brands Inc. | 342,262 | 202 | |||
*,1 | Loop Media Inc. | 1,562,500 | 158 | |||
* | Rave Restaurant Group Inc. | 68,085 | 135 | |||
*,1 | United Homes Group Inc. | 21,683 | 123 | |||
*,1 | Vince Holding Corp. | 85,410 | 118 | |||
* | Stran & Co. Inc. | 97,248 | 109 | |||
FAT Brands Inc. Class B | 17,809 | 84 | ||||
* | Urban One Inc. Class A | 41,162 | 82 | |||
* | Upexi Inc. | 221,762 | 80 | |||
* | Charles & Colvard Ltd. | 44,542 | 76 | |||
*,2 | SRAX Inc. | 590,641 | 41 | |||
*,1 | Getaround Inc. | 216,605 | 30 | |||
*,1 | SRM Entertainment Inc. | 18,856 | 24 | |||
* | Yunhong Green CTI Ltd. | 17,688 | 22 | |||
* | BurgerFi International Inc. | 53,569 | 11 | |||
* | Tandy Leather Factory Inc. | 1,680 | 8 | |||
* | Twin Vee PowerCats Co. | 8,743 | 5 | |||
* | Emerson Radio Corp. | 6,500 | 4 | |||
* | Wilhelmina International Inc. | 442 | 2 | |||
*,1,2 | Empire Resorts Inc. | 96,356 | — | |||
227,028,799 | ||||||
Consumer Staples (4.3%) | ||||||
Procter & Gamble Co. | 74,572,109 | 12,298,432 | ||||
Coca-Cola Co. | 122,411,604 | 7,791,499 | ||||
PepsiCo Inc. | 43,432,667 | 7,163,350 | ||||
Philip Morris International Inc. | 49,116,384 | 4,976,963 | ||||
Mondelez International Inc. Class A | 42,381,332 | 2,773,434 | ||||
Colgate-Palmolive Co. | 25,855,579 | 2,509,025 | ||||
Altria Group Inc. | 54,196,936 | 2,468,670 | ||||
McKesson Corp. | 4,110,151 | 2,400,493 | ||||
CVS Health Corp. | 39,663,593 | 2,342,532 | ||||
Kimberly-Clark Corp. | 10,656,638 | 1,472,747 | ||||
Constellation Brands Inc. Class A | 5,195,090 | 1,336,593 | ||||
Cencora Inc. | 5,279,783 | 1,189,535 | ||||
Corteva Inc. | 21,759,998 | 1,173,734 | ||||
* | Monster Beverage Corp. | 23,336,177 | 1,165,642 | |||
Keurig Dr Pepper Inc. | 34,285,909 | 1,145,149 | ||||
General Mills Inc. | 17,862,312 | 1,129,970 | ||||
Sysco Corp. | 15,725,272 | 1,122,627 | ||||
Kenvue Inc. | 60,526,189 | 1,100,366 | ||||
Kroger Co. | 20,551,446 | 1,026,134 | ||||
Archer-Daniels-Midland Co. | 15,631,946 | 944,951 | ||||
Hershey Co. | 4,670,444 | 858,568 | ||||
Kraft Heinz Co. | 24,930,557 | 803,263 | ||||
Church & Dwight Co. Inc. | 7,708,154 | 799,181 | ||||
McCormick & Co. Inc. (Non-Voting) | 7,982,153 | 566,254 |
Shares | Market Value• ($000) | |||||
Clorox Co. | 3,921,320 | 535,143 | ||||
Tyson Foods Inc. Class A | 9,006,831 | 514,650 | ||||
Kellanova | 8,627,002 | 497,605 | ||||
Bunge Global SA | 4,469,387 | 477,196 | ||||
Casey's General Stores Inc. | 1,163,384 | 443,901 | ||||
Conagra Brands Inc. | 15,147,270 | 430,485 | ||||
Brown-Forman Corp. Class B | 9,579,663 | 413,746 | ||||
* | US Foods Holding Corp. | 7,795,686 | 413,015 | |||
Lamb Weston Holdings Inc. | 4,555,461 | 383,023 | ||||
J M Smucker Co. | 3,206,941 | 349,685 | ||||
* | Performance Food Group Co. | 4,918,506 | 325,162 | |||
*,1 | Celsius Holdings Inc. | 5,163,086 | 294,761 | |||
Hormel Foods Corp. | 9,567,902 | 291,725 | ||||
Molson Coors Beverage Co. Class B | 5,635,817 | 286,469 | ||||
Campbell Soup Co. | 6,152,587 | 278,035 | ||||
* | Sprouts Farmers Market Inc. | 3,143,769 | 263,008 | |||
Walgreens Boots Alliance Inc. | 21,666,473 | 262,056 | ||||
* | BellRing Brands Inc. | 4,122,167 | 235,541 | |||
Ingredion Inc. | 2,053,248 | 235,508 | ||||
Albertsons Cos. Inc. Class A | 10,902,235 | 215,319 | ||||
* | Freshpet Inc. | 1,521,144 | 196,821 | |||
* | Darling Ingredients Inc. | 5,000,169 | 183,756 | |||
Coca-Cola Consolidated Inc. | 159,263 | 172,800 | ||||
* | Post Holdings Inc. | 1,538,717 | 160,273 | |||
Flowers Foods Inc. | 6,011,410 | 133,453 | ||||
Lancaster Colony Corp. | 612,130 | 115,674 | ||||
Primo Water Corp. | 4,802,666 | 104,986 | ||||
* | Simply Good Foods Co. | 2,816,729 | 101,768 | |||
WD-40 Co. | 427,640 | 93,927 | ||||
Cal-Maine Foods Inc. | 1,260,122 | 77,006 | ||||
Spectrum Brands Holdings Inc. | 854,508 | 73,428 | ||||
1 | Brown-Forman Corp. Class A | 1,651,153 | 72,865 | |||
* | Boston Beer Co. Inc. Class A | 224,821 | 68,582 | |||
Energizer Holdings Inc. | 2,241,246 | 66,206 | ||||
Edgewell Personal Care Co. | 1,556,830 | 62,569 | ||||
* | Grocery Outlet Holding Corp. | 2,751,799 | 60,870 | |||
J & J Snack Foods Corp. | 366,737 | 59,547 | ||||
* | TreeHouse Foods Inc. | 1,511,757 | 55,391 | |||
Andersons Inc. | 1,017,329 | 50,460 | ||||
Reynolds Consumer Products Inc. | 1,701,641 | 47,612 | ||||
* | Chefs' Warehouse Inc. | 1,126,810 | 44,070 | |||
Vector Group Ltd. | 4,158,704 | 43,958 | ||||
* | Pilgrim's Pride Corp. | 1,116,574 | 42,977 | |||
* | Vital Farms Inc. | 903,350 | 42,250 | |||
National Beverage Corp. | 740,634 | 37,950 | ||||
Utz Brands Inc. | 2,184,049 | 36,343 | ||||
Universal Corp. | 741,662 | 35,741 | ||||
* | Vita Coco Co. Inc. | 1,250,640 | 34,830 | |||
MGP Ingredients Inc. | 446,218 | 33,199 | ||||
Weis Markets Inc. | 509,774 | 31,999 | ||||
WK Kellogg Co. | 1,866,012 | 30,715 | ||||
* | Herbalife Ltd. | 2,953,265 | 30,684 | |||
Ingles Markets Inc. Class A | 446,062 | 30,604 | ||||
Fresh Del Monte Produce Inc. | 1,154,316 | 25,222 | ||||
Seaboard Corp. | 7,591 | 23,993 | ||||
* | United Natural Foods Inc. | 1,828,184 | 23,949 | |||
John B Sanfilippo & Son Inc. | 243,834 | 23,693 | ||||
* | Hain Celestial Group Inc. | 2,895,001 | 20,004 | |||
B&G Foods Inc. | 2,448,201 | 19,781 | ||||
SpartanNash Co. | 1,031,437 | 19,350 | ||||
Turning Point Brands Inc. | 576,129 | 18,488 | ||||
Nu Skin Enterprises Inc. Class A | 1,631,724 | 17,198 | ||||
* | USANA Health Sciences Inc. | 340,900 | 15,422 | |||
*,1 | Westrock Coffee Co. | 1,474,555 | 15,085 | |||
Tootsie Roll Industries Inc. | 479,676 | 14,664 | ||||
ACCO Brands Corp. | 2,844,367 | 13,369 | ||||
* | Mission Produce Inc. | 1,352,142 | 13,359 | |||
*,1 | Beyond Meat Inc. | 1,989,656 | 13,351 | |||
1 | Limoneira Co. | 587,466 | 12,225 | |||
Calavo Growers Inc. | 532,751 | 12,093 |
Shares | Market Value• ($000) | |||||
* | Duckhorn Portfolio Inc. | 1,618,803 | 11,494 | |||
Oil-Dri Corp. of America | 162,851 | 10,437 | ||||
* | Seneca Foods Corp. Class A | 163,001 | 9,356 | |||
Natural Grocers by Vitamin Cottage Inc. | 424,908 | 9,008 | ||||
*,1 | BRC Inc. Class A | 1,452,854 | 8,906 | |||
1 | Medifast Inc. | 356,866 | 7,787 | |||
* | Mama's Creations Inc. | 1,057,577 | 7,128 | |||
*,1 | Whole Earth Brands Inc. | 1,333,855 | 6,483 | |||
* | Nature's Sunshine Products Inc. | 396,518 | 5,976 | |||
Village Super Market Inc. Class A | 223,088 | 5,892 | ||||
* | LifeMD Inc. | 838,528 | 5,752 | |||
* | Honest Co. Inc. | 1,957,424 | 5,716 | |||
*,1 | Beauty Health Co. | 2,698,071 | 5,180 | |||
* | Olaplex Holdings Inc. | 3,311,781 | 5,100 | |||
*,1 | Cibus Inc. Class A | 465,386 | 4,584 | |||
* | GrowGeneration Corp. | 1,756,060 | 3,776 | |||
* | HF Foods Group Inc. | 1,168,214 | 3,505 | |||
*,1 | Veru Inc. | 3,889,604 | 3,272 | |||
1 | PetMed Express Inc. | 640,080 | 2,592 | |||
* | Lifeway Foods Inc. | 172,782 | 2,206 | |||
*,1 | ProPhase Labs Inc. | 454,645 | 1,900 | |||
Lifevantage Corp. | 289,613 | 1,859 | ||||
Alico Inc. | 71,688 | 1,857 | ||||
* | Farmer Bros Co. | 511,916 | 1,372 | |||
*,1 | PLBY Group Inc. | 1,582,683 | 1,230 | |||
AMCON Distributing Co. | 7,756 | 1,094 | ||||
* | Natural Alternatives International Inc. | 162,521 | 978 | |||
*,1 | Barfresh Food Group Inc. | 233,784 | 856 | |||
*,1 | Benson Hill Inc. | 4,124,617 | 629 | |||
* | Willamette Valley Vineyards Inc. | 152,433 | 599 | |||
* | Bridgford Foods Corp. | 48,702 | 489 | |||
*,1 | Zevia PBC Class A | 627,442 | 424 | |||
*,1 | Local Bounti Corp. | 130,217 | 363 | |||
*,1 | Urban-Gro Inc. | 227,616 | 303 | |||
* | Rocky Mountain Chocolate Factory Inc. | 128,662 | 283 | |||
*,1 | Real Good Food Co. Inc. Class A | 562,143 | 281 | |||
*,1 | Splash Beverage Group Inc. | 950,644 | 219 | |||
* | Mannatech Inc. | 30,953 | 217 | |||
*,1 | S&W Seed Co. | 558,871 | 201 | |||
* | Vintage Wine Estates Inc. | 1,296,027 | 180 | |||
*,1 | Maison Solutions Inc. Class A | 77,000 | 102 | |||
* | FitLife Brands Inc. | 1,877 | 63 | |||
70,579,354 | ||||||
Energy (3.9%) | ||||||
Exxon Mobil Corp. | 141,717,410 | 16,314,508 | ||||
Chevron Corp. | 55,438,597 | 8,671,705 | ||||
ConocoPhillips | 36,940,432 | 4,225,247 | ||||
EOG Resources Inc. | 18,150,714 | 2,284,630 | ||||
Schlumberger NV | 45,132,635 | 2,129,358 | ||||
Marathon Petroleum Corp. | 11,146,503 | 1,933,695 | ||||
Phillips 66 | 13,386,322 | 1,889,747 | ||||
Williams Cos. Inc. | 38,492,312 | 1,635,923 | ||||
Valero Energy Corp. | 10,327,646 | 1,618,962 | ||||
ONEOK Inc. | 18,443,980 | 1,504,107 | ||||
Hess Corp. | 9,257,826 | 1,365,714 | ||||
Occidental Petroleum Corp. | 19,620,247 | 1,236,664 | ||||
Cheniere Energy Inc. | 6,865,714 | 1,200,333 | ||||
Kinder Morgan Inc. | 59,679,664 | 1,185,835 | ||||
Diamondback Energy Inc. | 5,624,699 | 1,126,009 | ||||
Baker Hughes Co. Class A | 31,583,768 | 1,110,801 | ||||
Devon Energy Corp. | 19,970,146 | 946,585 | ||||
Targa Resources Corp. | 6,996,283 | 900,981 | ||||
Halliburton Co. | 25,071,662 | 846,921 | ||||
* | First Solar Inc. | 3,220,947 | 726,195 | |||
Coterra Energy Inc. | 22,364,983 | 596,474 | ||||
EQT Corp. | 13,926,898 | 515,017 | ||||
Marathon Oil Corp. | 17,858,137 | 511,993 | ||||
1 | Texas Pacific Land Corp. | 580,593 | 426,312 | |||
* | Enphase Energy Inc. | 4,076,998 | 406,517 |
Shares | Market Value• ($000) | |||||
Ovintiv Inc. | 8,414,046 | 394,366 | ||||
APA Corp. | 11,730,984 | 345,360 | ||||
TechnipFMC plc | 12,869,602 | 336,540 | ||||
1 | Chesapeake Energy Corp. | 3,939,202 | 323,763 | |||
Chord Energy Corp. | 1,869,473 | 313,473 | ||||
* | Antero Resources Corp. | 9,362,041 | 305,483 | |||
* | Weatherford International plc | 2,328,985 | 285,184 | |||
HF Sinclair Corp. | 5,152,124 | 274,814 | ||||
Range Resources Corp. | 7,254,106 | 243,230 | ||||
NOV Inc. | 12,620,299 | 239,912 | ||||
Permian Resources Corp. Class A | 14,751,533 | 238,237 | ||||
* | Southwestern Energy Co. | 34,926,600 | 235,056 | |||
Civitas Resources Inc. | 3,180,209 | 219,434 | ||||
DT Midstream Inc. | 3,066,255 | 217,796 | ||||
Matador Resources Co. | 3,554,807 | 211,867 | ||||
ChampionX Corp. | 6,033,689 | 200,379 | ||||
* | NEXTracker Inc. Class A | 4,256,458 | 199,543 | |||
Murphy Oil Corp. | 4,521,042 | 186,448 | ||||
Equitrans Midstream Corp. | 13,078,436 | 169,758 | ||||
1 | Noble Corp. plc | 3,581,558 | 159,917 | |||
Antero Midstream Corp. | 10,542,096 | 155,391 | ||||
SM Energy Co. | 3,588,919 | 155,149 | ||||
PBF Energy Inc. Class A | 3,209,082 | 147,682 | ||||
* | Valaris Ltd. | 1,946,417 | 145,008 | |||
* | Tidewater Inc. | 1,515,430 | 144,284 | |||
1 | Magnolia Oil & Gas Corp. Class A | 5,477,151 | 138,791 | |||
Patterson-UTI Energy Inc. | 12,581,775 | 130,347 | ||||
Arcosa Inc. | 1,535,849 | 128,105 | ||||
*,1 | Transocean Ltd. | 23,079,250 | 123,474 | |||
California Resources Corp. | 2,203,498 | 117,270 | ||||
* | CNX Resources Corp. | 4,649,916 | 112,993 | |||
Cactus Inc. Class A | 2,049,169 | 108,073 | ||||
Viper Energy Inc. Class A | 2,830,905 | 106,244 | ||||
Northern Oil & Gas Inc. | 2,828,848 | 105,148 | ||||
Warrior Met Coal Inc. | 1,646,857 | 103,373 | ||||
Helmerich & Payne Inc. | 2,848,923 | 102,960 | ||||
Liberty Energy Inc. Class A | 4,800,591 | 100,284 | ||||
Alpha Metallurgical Resources Inc. | 351,307 | 98,552 | ||||
Archrock Inc. | 4,640,911 | 93,839 | ||||
Arch Resources Inc. | 552,309 | 84,078 | ||||
Peabody Energy Corp. | 3,742,842 | 82,792 | ||||
* | Oceaneering International Inc. | 3,179,724 | 75,232 | |||
* | CONSOL Energy Inc. | 699,678 | 71,388 | |||
1 | New Fortress Energy Inc. | 2,875,106 | 63,195 | |||
* | Gulfport Energy Corp. | 402,584 | 60,790 | |||
* | Talos Energy Inc. | 4,861,355 | 59,065 | |||
Sitio Royalties Corp. Class A | 2,482,922 | 58,622 | ||||
*,1 | Plug Power Inc. | 23,941,062 | 55,783 | |||
* | Helix Energy Solutions Group Inc. | 4,559,303 | 54,438 | |||
Kinetik Holdings Inc. Class A | 1,273,831 | 52,788 | ||||
* | Diamond Offshore Drilling Inc. | 3,222,811 | 49,921 | |||
Delek US Holdings Inc. | 1,893,132 | 46,874 | ||||
* | Array Technologies Inc. | 4,491,027 | 46,078 | |||
* | DNOW Inc. | 3,343,677 | 45,909 | |||
World Kinect Corp. | 1,772,800 | 45,738 | ||||
* | Par Pacific Holdings Inc. | 1,718,427 | 43,390 | |||
Crescent Energy Co. Class A | 3,284,814 | 38,925 | ||||
1 | Atlas Energy Solutions Inc. Class A | 1,925,242 | 38,370 | |||
* | NextDecade Corp. | 4,672,211 | 37,097 | |||
* | Vital Energy Inc. | 806,413 | 36,143 | |||
*,1 | Fluence Energy Inc. | 1,998,845 | 34,660 | |||
* | MRC Global Inc. | 2,583,055 | 33,347 | |||
* | Shoals Technologies Group Inc. Class A | 5,289,561 | 33,007 | |||
Select Water Solutions Inc. Class A | 3,037,247 | 32,499 | ||||
* | Green Plains Inc. | 1,894,679 | 30,050 | |||
* | Ameresco Inc. Class A | 1,037,782 | 29,899 | |||
Core Laboratories Inc. | 1,455,819 | 29,539 | ||||
CVR Energy Inc. | 1,103,020 | 29,528 | ||||
1 | Comstock Resources Inc. | 2,646,557 | 27,471 | |||
* | SilverBow Resources Inc. | 679,153 | 25,692 |
Shares | Market Value• ($000) | |||||
* | American Superconductor Corp. | 1,080,717 | 25,278 | |||
* | ProPetro Holding Corp. | 2,906,681 | 25,201 | |||
SunCoke Energy Inc. | 2,555,571 | 25,045 | ||||
* | Bristow Group Inc. Class A | 727,592 | 24,396 | |||
* | Nabors Industries Ltd. | 334,088 | 23,774 | |||
Kodiak Gas Services Inc. | 831,276 | 22,661 | ||||
* | REX American Resources Corp. | 489,315 | 22,308 | |||
VAALCO Energy Inc. | 3,348,516 | 20,995 | ||||
* | Newpark Resources Inc. | 2,452,795 | 20,383 | |||
* | Dril-Quip Inc. | 1,074,918 | 19,993 | |||
RPC Inc. | 3,030,558 | 18,941 | ||||
*,1 | Tellurian Inc. | 26,595,797 | 18,420 | |||
*,1 | ChargePoint Holdings Inc. | 11,681,808 | 17,640 | |||
* | Centrus Energy Corp. Class A | 412,064 | 17,616 | |||
Vitesse Energy Inc. | 731,967 | 17,348 | ||||
Granite Ridge Resources Inc. | 2,147,631 | 13,595 | ||||
* | TETRA Technologies Inc. | 3,589,195 | 12,419 | |||
Berry Corp. | 1,920,512 | 12,407 | ||||
SandRidge Energy Inc. | 934,875 | 12,088 | ||||
Ramaco Resources Inc. Class A | 862,953 | 10,744 | ||||
* | SEACOR Marine Holdings Inc. | 755,999 | 10,198 | |||
* | Montauk Renewables Inc. | 1,766,814 | 10,071 | |||
*,1 | FuelCell Energy Inc. | 13,616,312 | 8,698 | |||
* | DMC Global Inc. | 592,287 | 8,541 | |||
*,1 | EVgo Inc. Class A | 3,462,752 | 8,484 | |||
Riley Exploration Permian Inc. | 298,145 | 8,440 | ||||
* | Matrix Service Co. | 817,496 | 8,118 | |||
* | Oil States International Inc. | 1,821,953 | 8,089 | |||
Solaris Oilfield Infrastructure Inc. Class A | 936,936 | 8,039 | ||||
* | Amplify Energy Corp. | 1,168,987 | 7,926 | |||
1 | HighPeak Energy Inc. | 559,143 | 7,862 | |||
* | Natural Gas Services Group Inc. | 372,764 | 7,500 | |||
*,1 | Solid Power Inc. | 3,931,093 | 6,486 | |||
W&T Offshore Inc. | 3,005,663 | 6,432 | ||||
* | Ring Energy Inc. | 3,694,153 | 6,243 | |||
*,1 | TPI Composites Inc. | 1,475,560 | 5,887 | |||
*,1 | ProFrac Holding Corp. Class A | 783,460 | 5,805 | |||
* | Forum Energy Technologies Inc. | 342,639 | 5,777 | |||
*,1 | Stem Inc. | 5,136,419 | 5,701 | |||
* | Hallador Energy Co. | 723,136 | 5,619 | |||
*,1 | SOW GOOD Inc. | 242,400 | 4,853 | |||
Ranger Energy Services Inc. Class A | 458,107 | 4,819 | ||||
1 | Evolution Petroleum Corp. | 896,436 | 4,724 | |||
*,1 | Gevo Inc. | 8,173,453 | 4,554 | |||
* | Geospace Technologies Corp. | 461,249 | 4,142 | |||
*,1 | SunPower Corp. | 1,290,275 | 3,819 | |||
1 | Epsilon Energy Ltd. | 638,076 | 3,478 | |||
NACCO Industries Inc. Class A | 121,254 | 3,355 | ||||
*,1 | Aemetis Inc. | 1,113,686 | 3,352 | |||
PHX Minerals Inc. | 1,009,748 | 3,292 | ||||
* | Gulf Island Fabrication Inc. | 409,380 | 2,485 | |||
Energy Services of America Corp. | 340,555 | 2,438 | ||||
*,1 | Flotek Industries Inc. | 444,746 | 2,184 | |||
*,1 | PrimeEnergy Resources Corp. | 19,756 | 2,101 | |||
*,1 | KLX Energy Services Holdings Inc. | 413,144 | 2,045 | |||
*,1 | OPAL Fuels Inc. Class A | 490,434 | 2,006 | |||
*,1 | Beam Global | 424,844 | 1,959 | |||
* | Smart Sand Inc. | 860,390 | 1,815 | |||
* | Ideal Power Inc. | 231,309 | 1,633 | |||
* | Profire Energy Inc. | 1,092,248 | 1,551 | |||
*,1 | Empire Petroleum Corp. | 297,011 | 1,533 | |||
*,1 | American Resources Corp. | 2,090,623 | 1,529 | |||
*,1 | ESS Tech Inc. | 1,855,050 | 1,517 | |||
Ramaco Resources Inc. Class B | 135,153 | 1,468 | ||||
*,1 | Nine Energy Service Inc. | 609,231 | 1,024 | |||
* | Mammoth Energy Services Inc. | 308,591 | 1,012 | |||
Adams Resources & Energy Inc. | 31,232 | 875 | ||||
*,1 | Battalion Oil Corp. | 223,426 | 746 | |||
* | PEDEVCO Corp. | 768,132 | 695 | |||
*,1 | Stabilis Solutions Inc. | 169,932 | 654 |
Shares | Market Value• ($000) | |||||
Barnwell Industries Inc. | 267,900 | 630 | ||||
*,1 | FTC Solar Inc. | 1,613,454 | 570 | |||
* | Superior Drilling Products Inc. | 426,357 | 554 | |||
*,1 | Enviva Inc. | 1,281,702 | 551 | |||
Mexco Energy Corp. | 44,605 | 505 | ||||
*,1 | Independence Contract Drilling Inc. | 287,714 | 374 | |||
*,1 | Verde Clean Fuels Inc. | 88,500 | 366 | |||
*,1 | Houston American Energy Corp. | 204,133 | 263 | |||
*,1 | Camber Energy Inc. | 1,720,790 | 202 | |||
*,1 | Ocean Power Technologies Inc. | 1,001,472 | 196 | |||
* | NCS Multistage Holdings Inc. | 9,276 | 156 | |||
* | US Energy Corp. | 133,545 | 136 | |||
*,1 | Complete Solaria Inc. | 107,225 | 120 | |||
*,1,2 | Novusterra Inc. | 174,215 | — | |||
64,787,517 | ||||||
Financials (10.5%) | ||||||
* | Berkshire Hathaway Inc. Class B | 55,921,201 | 22,748,745 | |||
JPMorgan Chase & Co. | 90,710,901 | 18,347,187 | ||||
Bank of America Corp. | 209,910,224 | 8,348,130 | ||||
Wells Fargo & Co. | 110,079,832 | 6,537,641 | ||||
S&P Global Inc. | 10,116,512 | 4,511,964 | ||||
Goldman Sachs Group Inc. | 9,330,248 | 4,220,258 | ||||
Progressive Corp. | 18,496,628 | 3,841,935 | ||||
Morgan Stanley | 38,510,592 | 3,742,844 | ||||
Citigroup Inc. | 57,216,737 | 3,630,974 | ||||
BlackRock Inc. | 4,458,941 | 3,510,613 | ||||
Charles Schwab Corp. | 44,922,678 | 3,310,352 | ||||
Marsh & McLennan Cos. Inc. | 15,562,060 | 3,279,237 | ||||
Chubb Ltd. | 12,819,674 | 3,270,042 | ||||
Blackstone Inc. | 22,587,231 | 2,796,299 | ||||
Intercontinental Exchange Inc. | 18,115,208 | 2,479,791 | ||||
CME Group Inc. | 11,366,583 | 2,234,670 | ||||
KKR & Co. Inc. | 21,031,298 | 2,213,334 | ||||
Moody's Corp. | 4,898,358 | 2,061,866 | ||||
US Bancorp | 49,347,090 | 1,959,080 | ||||
PNC Financial Services Group Inc. | 12,560,062 | 1,952,838 | ||||
Aon plc Class A | 6,533,408 | 1,918,078 | ||||
Arthur J Gallagher & Co. | 6,913,271 | 1,792,680 | ||||
Truist Financial Corp. | 42,311,443 | 1,643,800 | ||||
Aflac Inc. | 17,974,080 | 1,605,265 | ||||
American International Group Inc. | 20,983,443 | 1,557,811 | ||||
Apollo Global Management Inc. | 12,585,345 | 1,485,952 | ||||
Travelers Cos. Inc. | 7,234,013 | 1,470,964 | ||||
Bank of New York Mellon Corp. | 23,661,914 | 1,417,112 | ||||
MetLife Inc. | 19,045,314 | 1,336,791 | ||||
Ameriprise Financial Inc. | 3,128,957 | 1,336,659 | ||||
* | Coinbase Global Inc. Class A | 5,997,400 | 1,332,802 | |||
Allstate Corp. | 8,337,054 | 1,331,094 | ||||
Prudential Financial Inc. | 11,334,450 | 1,328,284 | ||||
MSCI Inc. Class A | 2,380,626 | 1,146,867 | ||||
* | Arch Capital Group Ltd. | 11,265,356 | 1,136,562 | |||
Discover Financial Services | 7,898,573 | 1,033,212 | ||||
Hartford Financial Services Group Inc. | 9,306,745 | 935,700 | ||||
Willis Towers Watson plc | 3,233,377 | 847,597 | ||||
Nasdaq Inc. | 13,621,463 | 820,829 | ||||
T. Rowe Price Group Inc. | 7,032,323 | 810,897 | ||||
M&T Bank Corp. | 5,266,324 | 797,111 | ||||
Fifth Third Bancorp | 21,566,869 | 786,975 | ||||
Ares Management Corp. Class A | 5,751,056 | 766,501 | ||||
Broadridge Financial Solutions Inc. | 3,737,958 | 736,378 | ||||
Raymond James Financial Inc. | 5,881,102 | 726,963 | ||||
State Street Corp. | 9,063,980 | 670,735 | ||||
LPL Financial Holdings Inc. | 2,353,299 | 657,276 | ||||
* | Berkshire Hathaway Inc. Class A | 1,065 | 652,037 | |||
Brown & Brown Inc. | 7,211,424 | 644,773 | ||||
* | Markel Group Inc. | 389,667 | 613,983 | |||
Huntington Bancshares Inc. | 45,835,202 | 604,108 | ||||
Cincinnati Financial Corp. | 4,962,353 | 586,054 | ||||
Principal Financial Group Inc. | 7,409,534 | 581,278 |
Shares | Market Value• ($000) | |||||
Regions Financial Corp. | 28,848,942 | 578,133 | ||||
First Citizens BancShares Inc. Class A | 341,253 | 574,537 | ||||
Cboe Global Markets Inc. | 3,328,241 | 566,001 | ||||
Everest Group Ltd. | 1,372,236 | 522,849 | ||||
Northern Trust Corp. | 6,168,110 | 517,998 | ||||
FactSet Research Systems Inc. | 1,204,266 | 491,666 | ||||
Citizens Financial Group Inc. | 13,587,643 | 489,563 | ||||
W R Berkley Corp. | 6,027,054 | 473,606 | ||||
* | Robinhood Markets Inc. Class A | 20,305,307 | 461,134 | |||
Loews Corp. | 5,922,421 | 442,642 | ||||
Reinsurance Group of America Inc. | 2,071,525 | 425,222 | ||||
KeyCorp | 29,664,429 | 421,532 | ||||
Equitable Holdings Inc. | 10,273,795 | 419,787 | ||||
Fidelity National Financial Inc. | 8,171,822 | 403,851 | ||||
Interactive Brokers Group Inc. Class A | 3,203,196 | 392,712 | ||||
Tradeweb Markets Inc. Class A | 3,650,679 | 386,972 | ||||
RenaissanceRe Holdings Ltd. | 1,663,739 | 371,862 | ||||
Ally Financial Inc. | 8,646,049 | 342,989 | ||||
East West Bancorp Inc. | 4,370,391 | 320,044 | ||||
Annaly Capital Management Inc. | 15,881,000 | 302,692 | ||||
Carlyle Group Inc. | 7,436,766 | 298,586 | ||||
Erie Indemnity Co. Class A | 804,722 | 291,631 | ||||
Blue Owl Capital Inc. Class A | 15,810,569 | 280,638 | ||||
American Financial Group Inc. | 2,239,261 | 275,474 | ||||
Assurant Inc. | 1,640,110 | 272,668 | ||||
First Horizon Corp. | 17,155,049 | 270,535 | ||||
Kinsale Capital Group Inc. | 696,754 | 268,445 | ||||
Unum Group | 5,128,991 | 262,143 | ||||
Stifel Financial Corp. | 3,096,700 | 260,587 | ||||
Morningstar Inc. | 876,755 | 259,388 | ||||
Primerica Inc. | 1,087,853 | 257,364 | ||||
Globe Life Inc. | 2,945,197 | 242,331 | ||||
SEI Investments Co. | 3,708,520 | 239,904 | ||||
MarketAxess Holdings Inc. | 1,190,976 | 238,826 | ||||
Old Republic International Corp. | 7,685,366 | 237,478 | ||||
Webster Financial Corp. | 5,446,244 | 237,402 | ||||
Jefferies Financial Group Inc. | 4,684,281 | 233,090 | ||||
Evercore Inc. Class A | 1,100,667 | 229,412 | ||||
Houlihan Lokey Inc. Class A | 1,675,309 | 225,932 | ||||
Voya Financial Inc. | 3,171,385 | 225,644 | ||||
Corebridge Financial Inc. | 7,683,605 | 223,747 | ||||
Franklin Resources Inc. | 9,869,588 | 220,585 | ||||
1 | AGNC Investment Corp. | 22,709,075 | 216,645 | |||
Comerica Inc. | 4,187,320 | 213,721 | ||||
Western Alliance Bancorp | 3,339,175 | 209,767 | ||||
Commerce Bancshares Inc. | 3,666,905 | 204,540 | ||||
Popular Inc. | 2,279,357 | 201,564 | ||||
*,1 | SoFi Technologies Inc. | 30,374,552 | 200,776 | |||
Zions Bancorp NA | 4,610,346 | 199,951 | ||||
Invesco Ltd. | 13,236,762 | 198,022 | ||||
Wintrust Financial Corp. | 1,974,680 | 194,624 | ||||
RLI Corp. | 1,369,599 | 192,689 | ||||
Cullen/Frost Bankers Inc. | 1,826,038 | 185,580 | ||||
Pinnacle Financial Partners Inc. | 2,313,327 | 185,159 | ||||
OneMain Holdings Inc. | 3,798,984 | 184,213 | ||||
SouthState Corp. | 2,393,154 | 182,885 | ||||
Starwood Property Trust Inc. | 9,589,628 | 181,628 | ||||
MGIC Investment Corp. | 8,420,743 | 181,467 | ||||
Selective Insurance Group Inc. | 1,921,299 | 180,276 | ||||
Essent Group Ltd. | 3,180,183 | 178,695 | ||||
Synovus Financial Corp. | 4,417,290 | 177,531 | ||||
Prosperity Bancshares Inc. | 2,895,701 | 177,043 | ||||
Jackson Financial Inc. Class A | 2,370,420 | 176,027 | ||||
Ryan Specialty Holdings Inc. Class A | 3,023,894 | 175,114 | ||||
Old National Bancorp | 10,031,474 | 172,441 | ||||
Axis Capital Holdings Ltd. | 2,423,765 | 171,239 | ||||
Lincoln National Corp. | 5,434,148 | 169,002 | ||||
Rithm Capital Corp. | 15,323,961 | 167,184 | ||||
First American Financial Corp. | 3,072,437 | 165,758 | ||||
Cadence Bank | 5,790,960 | 163,768 |
Shares | Market Value• ($000) | |||||
*,1 | Marathon Digital Holdings Inc. | 8,209,722 | 162,963 | |||
* | Mr Cooper Group Inc. | 1,918,860 | 155,869 | |||
Affiliated Managers Group Inc. | 995,370 | 155,507 | ||||
FNB Corp. | 11,279,053 | 154,297 | ||||
Hamilton Lane Inc. Class A | 1,213,600 | 149,977 | ||||
Radian Group Inc. | 4,803,393 | 149,386 | ||||
Bank OZK | 3,577,297 | 146,669 | ||||
SLM Corp. | 6,970,064 | 144,908 | ||||
White Mountains Insurance Group Ltd. | 77,389 | 140,651 | ||||
United Bankshares Inc. | 4,260,576 | 138,213 | ||||
Home BancShares Inc. | 5,673,897 | 135,947 | ||||
Janus Henderson Group plc | 4,011,995 | 135,244 | ||||
Glacier Bancorp Inc. | 3,617,185 | 134,993 | ||||
Columbia Banking System Inc. | 6,712,617 | 133,514 | ||||
Hancock Whitney Corp. | 2,735,545 | 130,841 | ||||
Lazard Inc. Class A | 3,381,079 | 129,090 | ||||
Moelis & Co. Class A | 2,248,962 | 127,876 | ||||
FirstCash Holdings Inc. | 1,218,955 | 127,844 | ||||
Hanover Insurance Group Inc. | 1,016,352 | 127,491 | ||||
Assured Guaranty Ltd. | 1,621,879 | 125,128 | ||||
Piper Sandler Cos. | 538,793 | 124,014 | ||||
* | Enstar Group Ltd. | 382,811 | 117,025 | |||
Kemper Corp. | 1,961,028 | 116,348 | ||||
First Financial Bankshares Inc. | 3,903,631 | 115,274 | ||||
Ameris Bancorp | 2,109,842 | 106,231 | ||||
UMB Financial Corp. | 1,230,011 | 102,608 | ||||
TPG Inc. Class A | 2,455,609 | 101,785 | ||||
International Bancshares Corp. | 1,769,935 | 101,258 | ||||
Walker & Dunlop Inc. | 1,001,133 | 98,311 | ||||
ServisFirst Bancshares Inc. | 1,544,860 | 97,620 | ||||
1 | BGC Group Inc. Class A | 11,730,412 | 97,362 | |||
Valley National Bancorp | 13,844,661 | 96,636 | ||||
United Community Banks Inc. | 3,791,944 | 96,543 | ||||
Fulton Financial Corp. | 5,635,064 | 95,683 | ||||
Associated Banc-Corp | 4,495,197 | 95,073 | ||||
Atlantic Union Bankshares Corp. | 2,830,678 | 92,988 | ||||
* | Clearwater Analytics Holdings Inc. Class A | 4,997,789 | 92,559 | |||
1 | Blackstone Mortgage Trust Inc. Class A | 5,266,747 | 91,747 | |||
First Bancorp | 5,012,760 | 91,683 | ||||
WSFS Financial Corp. | 1,949,915 | 91,646 | ||||
* | Oscar Health Inc. Class A | 5,758,216 | 91,095 | |||
CNO Financial Group Inc. | 3,255,416 | 90,240 | ||||
* | Axos Financial Inc. | 1,538,040 | 87,899 | |||
* | Texas Capital Bancshares Inc. | 1,433,839 | 87,665 | |||
* | Brighthouse Financial Inc. | 1,999,442 | 86,656 | |||
StepStone Group Inc. Class A | 1,876,092 | 86,094 | ||||
Federated Hermes Inc. Class B | 2,604,790 | 85,646 | ||||
* | Genworth Financial Inc. Class A | 14,121,745 | 85,295 | |||
Artisan Partners Asset Management Inc. Class A | 2,053,424 | 84,745 | ||||
* | NMI Holdings Inc. Class A | 2,474,875 | 84,245 | |||
First Hawaiian Inc. | 4,052,028 | 84,120 | ||||
Cathay General Bancorp | 2,189,581 | 82,591 | ||||
* | Credit Acceptance Corp. | 154,655 | 79,598 | |||
Community Financial System Inc. | 1,677,460 | 79,193 | ||||
First Interstate BancSystem Inc. Class A | 2,789,999 | 77,478 | ||||
1 | New York Community Bancorp Inc. | 23,687,518 | 76,274 | |||
1 | Arbor Realty Trust Inc. | 5,306,930 | 76,154 | |||
PennyMac Financial Services Inc. | 798,807 | 75,567 | ||||
*,1 | Riot Platforms Inc. | 8,255,935 | 75,459 | |||
PJT Partners Inc. Class A | 698,421 | 75,367 | ||||
WaFd Inc. | 2,610,720 | 74,614 | ||||
1 | Bank of Hawaii Corp. | 1,257,737 | 71,955 | |||
* | Baldwin Insurance Group Inc. Class A | 2,020,107 | 71,653 | |||
CVB Financial Corp. | 4,154,997 | 71,632 | ||||
BankUnited Inc. | 2,403,052 | 70,337 | ||||
Victory Capital Holdings Inc. Class A | 1,472,749 | 70,294 | ||||
Eastern Bankshares Inc. | 4,985,617 | 69,699 | ||||
Pacific Premier Bancorp Inc. | 3,007,137 | 69,074 | ||||
BOK Financial Corp. | 737,041 | 67,542 | ||||
Independent Bank Corp. | 1,321,043 | 67,003 |
Shares | Market Value• ($000) | |||||
Simmons First National Corp. Class A | 3,742,281 | 65,789 | ||||
Park National Corp. | 461,684 | 65,716 | ||||
Cohen & Steers Inc. | 894,514 | 64,906 | ||||
* | StoneX Group Inc. | 841,681 | 63,387 | |||
Seacoast Banking Corp. of Florida | 2,670,727 | 63,136 | ||||
First Financial Bancorp | 2,836,420 | 63,025 | ||||
First Merchants Corp. | 1,870,696 | 62,275 | ||||
Virtu Financial Inc. Class A | 2,713,586 | 60,920 | ||||
* | Palomar Holdings Inc. | 732,615 | 59,452 | |||
* | Rocket Cos. Inc. Class A | 4,272,227 | 58,530 | |||
Towne Bank | 2,140,651 | 58,376 | ||||
* | Triumph Financial Inc. | 706,653 | 57,769 | |||
* | Bancorp Inc. | 1,529,537 | 57,755 | |||
OFG Bancorp | 1,520,340 | 56,937 | ||||
Provident Financial Services Inc. | 3,896,708 | 55,918 | ||||
Banc of California Inc. | 4,370,379 | 55,853 | ||||
*,1 | Upstart Holdings Inc. | 2,362,736 | 55,737 | |||
NBT Bancorp Inc. | 1,413,021 | 54,543 | ||||
Stewart Information Services Corp. | 858,936 | 53,323 | ||||
Banner Corp. | 1,072,745 | 53,251 | ||||
Trustmark Corp. | 1,722,798 | 51,753 | ||||
Renasant Corp. | 1,684,995 | 51,460 | ||||
BancFirst Corp. | 581,016 | 50,955 | ||||
Independent Bank Group Inc. | 1,104,381 | 50,271 | ||||
WesBanco Inc. | 1,792,590 | 50,031 | ||||
1 | Heartland Financial USA Inc. | 1,110,731 | 49,372 | |||
Federal Agricultural Mortgage Corp. Class C | 272,838 | 49,335 | ||||
Virtus Investment Partners Inc. | 217,084 | 49,028 | ||||
* | Enova International Inc. | 780,056 | 48,559 | |||
Pathward Financial Inc. | 840,736 | 47,560 | ||||
City Holding Co. | 440,272 | 46,779 | ||||
Lakeland Financial Corp. | 755,458 | 46,476 | ||||
Mercury General Corp. | 868,469 | 46,150 | ||||
Northwest Bancshares Inc. | 3,980,325 | 45,973 | ||||
Two Harbors Investment Corp. | 3,479,530 | 45,965 | ||||
Stock Yards Bancorp Inc. | 923,723 | 45,881 | ||||
National Bank Holdings Corp. Class A | 1,174,521 | 45,865 | ||||
Enterprise Financial Services Corp. | 1,112,840 | 45,526 | ||||
Hilltop Holdings Inc. | 1,440,579 | 45,061 | ||||
WisdomTree Inc. | 4,454,958 | 44,149 | ||||
FB Financial Corp. | 1,126,912 | 43,983 | ||||
First Commonwealth Financial Corp. | 3,167,971 | 43,750 | ||||
Apollo Commercial Real Estate Finance Inc. | 4,441,821 | 43,485 | ||||
Horace Mann Educators Corp. | 1,310,992 | 42,765 | ||||
* | Customers Bancorp Inc. | 867,433 | 41,619 | |||
1 | Ready Capital Corp. | 5,075,028 | 41,514 | |||
Compass Diversified Holdings | 1,866,416 | 40,856 | ||||
First Busey Corp. | 1,667,813 | 40,378 | ||||
Ladder Capital Corp. Class A | 3,569,812 | 40,303 | ||||
First Bancorp (XNGS) | 1,249,038 | 39,869 | ||||
* | Goosehead Insurance Inc. Class A | 686,966 | 39,459 | |||
Westamerica Bancorp | 800,840 | 38,865 | ||||
* | Skyward Specialty Insurance Group Inc. | 1,071,210 | 38,756 | |||
S&T Bancorp Inc. | 1,148,550 | 38,350 | ||||
Hope Bancorp Inc. | 3,516,223 | 37,764 | ||||
Navient Corp. | 2,533,338 | 36,885 | ||||
PennyMac Mortgage Investment Trust | 2,678,741 | 36,833 | ||||
Live Oak Bancshares Inc. | 1,042,846 | 36,562 | ||||
Employers Holdings Inc. | 852,788 | 36,354 | ||||
* | SiriusPoint Ltd. | 2,951,113 | 36,004 | |||
National Western Life Group Inc. Class A | 68,666 | 34,123 | ||||
TriCo Bancshares | 861,733 | 34,099 | ||||
Safety Insurance Group Inc. | 450,486 | 33,800 | ||||
Veritex Holdings Inc. | 1,594,745 | 33,633 | ||||
1 | Ellington Financial Inc. | 2,754,091 | 33,269 | |||
MFA Financial Inc. | 3,121,677 | 33,215 | ||||
1 | Cannae Holdings Inc. | 1,825,829 | 33,121 | |||
Nicolet Bankshares Inc. | 394,388 | 32,750 | ||||
Safehold Inc. | 1,694,209 | 32,681 | ||||
Chimera Investment Corp. | 2,525,576 | 32,327 |
Shares | Market Value• ($000) | |||||
Sandy Spring Bancorp Inc. | 1,318,920 | 32,129 | ||||
Peoples Bancorp Inc. | 1,060,394 | 31,812 | ||||
Stellar Bancorp Inc. | 1,377,994 | 31,639 | ||||
Franklin BSP Realty Trust Inc. | 2,476,476 | 31,204 | ||||
QCR Holdings Inc. | 519,067 | 31,144 | ||||
Enact Holdings Inc. | 990,254 | 30,361 | ||||
German American Bancorp Inc. | 841,855 | 29,760 | ||||
Claros Mortgage Trust Inc. | 3,709,125 | 29,747 | ||||
Berkshire Hills Bancorp Inc. | 1,303,300 | 29,715 | ||||
Preferred Bank | 389,893 | 29,433 | ||||
*,1 | Trupanion Inc. | 1,000,295 | 29,409 | |||
* | Encore Capital Group Inc. | 700,812 | 29,245 | |||
Origin Bancorp Inc. | 914,505 | 29,008 | ||||
1 | ARMOUR Residential REIT Inc. | 1,476,815 | 28,621 | |||
OceanFirst Financial Corp. | 1,782,600 | 28,326 | ||||
Dynex Capital Inc. | 2,362,558 | 28,209 | ||||
*,1 | Lemonade Inc. | 1,699,041 | 28,034 | |||
* | LendingClub Corp. | 3,249,094 | 27,487 | |||
AMERISAFE Inc. | 615,090 | 26,996 | ||||
Redwood Trust Inc. | 3,983,844 | 25,855 | ||||
HCI Group Inc. | 278,749 | 25,692 | ||||
Nelnet Inc. Class A | 254,083 | 25,627 | ||||
Southside Bancshares Inc. | 913,177 | 25,213 | ||||
Merchants Bancorp | 577,101 | 23,396 | ||||
* | PRA Group Inc. | 1,172,626 | 23,054 | |||
ConnectOne Bancorp Inc. | 1,216,281 | 22,976 | ||||
Bank First Corp. | 277,704 | 22,936 | ||||
First Bancshares Inc. | 876,030 | 22,759 | ||||
Community Trust Bancorp Inc. | 517,368 | 22,588 | ||||
* | AssetMark Financial Holdings Inc. | 653,359 | 22,574 | |||
Dime Community Bancshares Inc. | 1,102,842 | 22,498 | ||||
Brightsphere Investment Group Inc. | 994,321 | 22,044 | ||||
First Mid Bancshares Inc. | 670,097 | 22,033 | ||||
Premier Financial Corp. | 1,074,086 | 21,976 | ||||
TFS Financial Corp. | 1,733,946 | 21,882 | ||||
BrightSpire Capital Inc. Class A | 3,815,617 | 21,749 | ||||
Capitol Federal Financial Inc. | 3,959,210 | 21,736 | ||||
Amerant Bancorp Inc. Class A | 952,796 | 21,628 | ||||
Brookline Bancorp Inc. | 2,567,822 | 21,441 | ||||
F&G Annuities & Life Inc. | 553,396 | 21,057 | ||||
1 | UWM Holdings Corp. Class A | 2,981,335 | 20,661 | |||
Old Second Bancorp Inc. | 1,369,237 | 20,278 | ||||
* | NB Bancorp Inc. | 1,325,100 | 19,983 | |||
Heritage Financial Corp. | 1,104,101 | 19,907 | ||||
* | ProAssurance Corp. | 1,602,791 | 19,586 | |||
Univest Financial Corp. | 849,446 | 19,393 | ||||
Amalgamated Financial Corp. | 688,686 | 18,870 | ||||
Burke & Herbert Financial Services Corp. | 368,324 | 18,777 | ||||
Byline Bancorp Inc. | 778,856 | 18,490 | ||||
Mercantile Bank Corp. | 445,880 | 18,089 | ||||
* | Ambac Financial Group Inc. | 1,388,584 | 17,802 | |||
Tompkins Financial Corp. | 352,924 | 17,258 | ||||
Great Southern Bancorp Inc. | 308,616 | 17,162 | ||||
* | EZCORP Inc. Class A | 1,626,754 | 17,032 | |||
Central Pacific Financial Corp. | 802,269 | 17,008 | ||||
Eagle Bancorp Inc. | 899,145 | 16,994 | ||||
* | CrossFirst Bankshares Inc. | 1,204,317 | 16,885 | |||
* | Open Lending Corp. | 2,975,078 | 16,601 | |||
Business First Bancshares Inc. | 760,359 | 16,545 | ||||
New York Mortgage Trust Inc. | 2,830,234 | 16,529 | ||||
TPG RE Finance Trust Inc. | 1,908,665 | 16,491 | ||||
1 | Invesco Mortgage Capital Inc. | 1,753,119 | 16,427 | |||
HomeTrust Bancshares Inc. | 539,973 | 16,215 | ||||
Independent Bank Corp. (Michigan) | 600,268 | 16,207 | ||||
TrustCo Bank Corp. | 555,962 | 15,995 | ||||
Hanmi Financial Corp. | 955,767 | 15,980 | ||||
First Community Bankshares Inc. | 431,141 | 15,883 | ||||
Equity Bancshares Inc. Class A | 444,259 | 15,638 | ||||
Universal Insurance Holdings Inc. | 828,058 | 15,534 | ||||
HarborOne Bancorp Inc. | 1,387,342 | 15,441 |
Shares | Market Value• ($000) | |||||
Cambridge Bancorp | 222,555 | 15,356 | ||||
Heritage Commerce Corp. | 1,714,761 | 14,918 | ||||
1 | Orchid Island Capital Inc. | 1,770,661 | 14,767 | |||
Metrocity Bankshares Inc. | 559,065 | 14,759 | ||||
Midland States Bancorp Inc. | 645,763 | 14,627 | ||||
* | LendingTree Inc. | 348,147 | 14,479 | |||
Horizon Bancorp Inc. | 1,163,062 | 14,387 | ||||
Washington Trust Bancorp Inc. | 524,455 | 14,375 | ||||
* | Coastal Financial Corp. | 308,893 | 14,252 | |||
Macatawa Bank Corp. | 974,898 | 14,234 | ||||
Camden National Corp. | 428,072 | 14,126 | ||||
GCM Grosvenor Inc. Class A | 1,439,205 | 14,047 | ||||
* | Metropolitan Bank Holding Corp. | 331,479 | 13,952 | |||
Southern Missouri Bancorp Inc. | 307,036 | 13,820 | ||||
Republic Bancorp Inc. Class A | 254,168 | 13,626 | ||||
KKR Real Estate Finance Trust Inc. | 1,497,967 | 13,557 | ||||
* | Columbia Financial Inc. | 873,503 | 13,076 | |||
Farmers National Banc Corp. | 1,018,527 | 12,721 | ||||
CNB Financial Corp. | 619,546 | 12,645 | ||||
Northeast Bank | 206,775 | 12,584 | ||||
Diamond Hill Investment Group Inc. | 87,653 | 12,337 | ||||
First Financial Corp. | 332,965 | 12,280 | ||||
Northfield Bancorp Inc. | 1,281,890 | 12,152 | ||||
1st Source Corp. | 226,482 | 12,144 | ||||
*,1 | Hagerty Inc. Class A | 1,164,623 | 12,112 | |||
P10 Inc. Class A | 1,401,705 | 11,886 | ||||
*,1 | Root Inc. Class A | 230,292 | 11,885 | |||
Community West Bancshares | 636,730 | 11,780 | ||||
Bar Harbor Bankshares | 434,797 | 11,687 | ||||
* | World Acceptance Corp. | 94,357 | 11,661 | |||
Arrow Financial Corp. | 447,007 | 11,645 | ||||
Oppenheimer Holdings Inc. Class A | 242,424 | 11,615 | ||||
Peapack-Gladstone Financial Corp. | 503,609 | 11,407 | ||||
Flushing Financial Corp. | 865,639 | 11,383 | ||||
Capital City Bank Group Inc. | 397,796 | 11,313 | ||||
* | Selectquote Inc. | 4,071,903 | 11,238 | |||
Five Star Bancorp | 457,809 | 10,827 | ||||
* | Carter Bankshares Inc. | 713,080 | 10,782 | |||
Tiptree Inc. Class A | 652,748 | 10,764 | ||||
Shore Bancshares Inc. | 937,014 | 10,729 | ||||
1 | NewtekOne Inc. | 849,108 | 10,673 | |||
First Foundation Inc. | 1,625,444 | 10,647 | ||||
Kearny Financial Corp. | 1,729,141 | 10,634 | ||||
SmartFinancial Inc. | 445,740 | 10,551 | ||||
Alerus Financial Corp. | 537,985 | 10,550 | ||||
1 | B. Riley Financial Inc. | 595,811 | 10,510 | |||
Northrim Bancorp Inc. | 177,170 | 10,212 | ||||
* | Greenlight Capital Re Ltd. Class A | 777,685 | 10,188 | |||
United Fire Group Inc. | 472,575 | 10,156 | ||||
Esquire Financial Holdings Inc. | 207,042 | 9,855 | ||||
First Bank | 772,053 | 9,836 | ||||
Sierra Bancorp | 419,887 | 9,397 | ||||
1 | Hingham Institution For Savings | 50,831 | 9,093 | |||
ACNB Corp. | 245,821 | 8,916 | ||||
Financial Institutions Inc. | 459,281 | 8,873 | ||||
*,1 | Oklo Inc. Class A | 1,046,800 | 8,866 | |||
Peoples Financial Services Corp. | 194,049 | 8,837 | ||||
Mid Penn Bancorp Inc. | 399,128 | 8,761 | ||||
Home Bancorp Inc. | 215,630 | 8,627 | ||||
FS Bancorp Inc. | 235,928 | 8,600 | ||||
BayCom Corp. | 416,128 | 8,468 | ||||
* | Hippo Holdings Inc. | 491,353 | 8,446 | |||
RBB Bancorp | 447,375 | 8,415 | ||||
Unity Bancorp Inc. | 283,055 | 8,370 | ||||
James River Group Holdings Ltd. | 1,068,650 | 8,261 | ||||
Farmers & Merchants Bancorp Inc. | 354,362 | 8,228 | ||||
First Business Financial Services Inc. | 222,306 | 8,223 | ||||
Waterstone Financial Inc. | 623,020 | 7,968 | ||||
South Plains Financial Inc. | 294,573 | 7,953 | ||||
Guaranty Bancshares Inc. | 250,824 | 7,911 |
Shares | Market Value• ($000) | |||||
1 | Orrstown Financial Services Inc. | 288,558 | 7,895 | |||
Codorus Valley Bancorp Inc. | 327,738 | 7,879 | ||||
* | Third Coast Bancshares Inc. | 367,701 | 7,821 | |||
Citizens & Northern Corp. | 436,083 | 7,802 | ||||
Civista Bancshares Inc. | 498,664 | 7,724 | ||||
First Bancorp Inc. | 310,329 | 7,712 | ||||
MBIA Inc. | 1,384,207 | 7,599 | ||||
West Bancorp Inc. | 423,785 | 7,586 | ||||
Donegal Group Inc. Class A | 587,248 | 7,564 | ||||
* | Blue Foundry Bancorp | 828,434 | 7,514 | |||
Chicago Atlantic Real Estate Finance Inc. | 485,214 | 7,453 | ||||
Primis Financial Corp. | 708,048 | 7,420 | ||||
Bank of Marin Bancorp | 456,571 | 7,392 | ||||
MidWestOne Financial Group Inc. | 326,594 | 7,345 | ||||
1 | Greene County Bancorp Inc. | 210,697 | 7,103 | |||
Regional Management Corp. | 245,340 | 7,051 | ||||
* | Southern First Bancshares Inc. | 241,081 | 7,049 | |||
Investors Title Co. | 38,891 | 7,005 | ||||
* | Bridgewater Bancshares Inc. | 598,659 | 6,950 | |||
* | American Coastal Insurance Corp. | 656,100 | 6,922 | |||
First of Long Island Corp. | 677,874 | 6,792 | ||||
Colony Bankcorp Inc. | 552,479 | 6,768 | ||||
First Internet Bancorp | 248,309 | 6,709 | ||||
Northeast Community Bancorp Inc. | 372,398 | 6,636 | ||||
Timberland Bancorp Inc. | 243,086 | 6,585 | ||||
PCB Bancorp | 402,063 | 6,546 | ||||
Enterprise Bancorp Inc. | 262,211 | 6,524 | ||||
*,1 | Dave Inc. | 214,331 | 6,494 | |||
MVB Financial Corp. | 344,893 | 6,429 | ||||
1 | Virginia National Bankshares Corp. | 196,011 | 6,429 | |||
HomeStreet Inc. | 562,428 | 6,412 | ||||
Citizens Financial Services Inc. | 142,125 | 6,387 | ||||
Princeton Bancorp Inc. | 191,916 | 6,352 | ||||
HBT Financial Inc. | 306,003 | 6,249 | ||||
Ames National Corp. | 304,490 | 6,239 | ||||
John Marshall Bancorp Inc. | 356,641 | 6,220 | ||||
1 | Angel Oak Mortgage REIT Inc. | 472,824 | 6,194 | |||
Red River Bancshares Inc. | 128,295 | 6,157 | ||||
Seven Hills Realty Trust | 483,509 | 6,131 | ||||
Plumas Bancorp | 169,162 | 6,086 | ||||
ChoiceOne Financial Services Inc. | 210,998 | 6,045 | ||||
Orange County Bancorp Inc. | 114,152 | 6,036 | ||||
1 | Fidelity D&D Bancorp Inc. | 137,500 | 6,023 | |||
1 | Oak Valley Bancorp | 240,221 | 5,998 | |||
Crawford & Co. Class B | 747,804 | 5,990 | ||||
1 | Norwood Financial Corp. | 233,548 | 5,927 | |||
1 | AFC Gamma Inc. | 482,535 | 5,887 | |||
AG Mortgage Investment Trust Inc. | 875,202 | 5,811 | ||||
NexPoint Diversified Real Estate Trust | 1,050,812 | 5,811 | ||||
1 | Middlefield Banc Corp. | 238,900 | 5,746 | |||
Chemung Financial Corp. | 119,162 | 5,720 | ||||
Southern States Bancshares Inc. | 209,590 | 5,688 | ||||
* | Ponce Financial Group Inc. | 621,347 | 5,679 | |||
* | FVCBankcorp Inc. | 515,672 | 5,631 | |||
Capital Bancorp Inc. | 272,637 | 5,589 | ||||
Parke Bancorp Inc. | 320,016 | 5,568 | ||||
* | NI Holdings Inc. | 362,047 | 5,539 | |||
* | Sterling Bancorp Inc. | 1,048,885 | 5,486 | |||
National Bankshares Inc. | 192,646 | 5,448 | ||||
1 | Medallion Financial Corp. | 699,890 | 5,375 | |||
*,1 | AlTi Global Inc. | 997,300 | 5,196 | |||
Silvercrest Asset Management Group Inc. Class A | 330,800 | 5,157 | ||||
* | Heritage Insurance Holdings Inc. | 725,152 | 5,134 | |||
Bankwell Financial Group Inc. | 201,810 | 5,120 | ||||
Investar Holding Corp. | 332,011 | 5,113 | ||||
* | California Bancorp | 237,783 | 5,112 | |||
Citizens Community Bancorp Inc. | 441,300 | 5,106 | ||||
Peoples Bancorp of North Carolina Inc. | 172,508 | 5,037 | ||||
* | Pioneer Bancorp Inc. | 497,901 | 4,984 | |||
1 | Richmond Mutual Bancorp Inc. | 424,197 | 4,980 |
Shares | Market Value• ($000) | |||||
* | Affinity Bancshares Inc. | 231,695 | 4,912 | |||
First Financial Northwest Inc. | 230,464 | 4,870 | ||||
1 | LCNB Corp. | 347,818 | 4,838 | |||
* | Provident Bancorp Inc. | 471,499 | 4,805 | |||
BCB Bancorp Inc. | 450,678 | 4,791 | ||||
1 | C&F Financial Corp. | 99,381 | 4,790 | |||
Western New England Bancorp Inc. | 693,837 | 4,774 | ||||
Granite Point Mortgage Trust Inc. | 1,595,075 | 4,737 | ||||
*,1 | Southern California Bancorp | 347,406 | 4,680 | |||
* | Onity Group Inc. | 193,496 | 4,640 | |||
1 | Evans Bancorp Inc. | 164,399 | 4,621 | |||
LINKBANCORP Inc. | 753,487 | 4,611 | ||||
Bank7 Corp. | 146,279 | 4,579 | ||||
*,1 | Forge Global Holdings Inc. | 3,122,847 | 4,559 | |||
ESSA Bancorp Inc. | 258,071 | 4,539 | ||||
1 | First Community Corp. | 255,221 | 4,403 | |||
1 | Penns Woods Bancorp Inc. | 206,478 | 4,243 | |||
1 | Sachem Capital Corp. | 1,621,981 | 4,201 | |||
1 | MainStreet Bancshares Inc. | 235,574 | 4,177 | |||
* | First Western Financial Inc. | 241,636 | 4,108 | |||
OP Bancorp | 427,662 | 4,101 | ||||
First United Corp. | 199,956 | 4,083 | ||||
* | Velocity Financial Inc. | 225,900 | 4,050 | |||
Guild Holdings Co. Class A | 273,002 | 4,038 | ||||
Meridian Corp. | 367,884 | 3,870 | ||||
* | ECB Bancorp Inc. | 306,402 | 3,824 | |||
*,1 | Citizens Inc. Class A | 1,404,593 | 3,821 | |||
FNCB Bancorp Inc. | 548,915 | 3,705 | ||||
*,1 | eHealth Inc. | 817,604 | 3,704 | |||
1 | William Penn Bancorp | 318,150 | 3,627 | |||
BV Financial Inc. | 304,245 | 3,624 | ||||
Hawthorn Bancshares Inc. | 182,956 | 3,623 | ||||
BankFinancial Corp. | 350,754 | 3,609 | ||||
* | Heritage Global Inc. | 1,401,176 | 3,447 | |||
Eagle Bancorp Montana Inc. | 257,546 | 3,418 | ||||
Franklin Financial Services Corp. | 120,233 | 3,400 | ||||
Ellington Credit Co. | 486,682 | 3,382 | ||||
Westwood Holdings Group Inc. | 277,674 | 3,382 | ||||
Nexpoint Real Estate Finance Inc. | 241,453 | 3,313 | ||||
*,1 | Security National Financial Corp. Class A | 410,012 | 3,276 | |||
*,1 | Better Home & Finance Holding Co. | 6,922,717 | 3,178 | |||
* | ACRES Commercial Realty Corp. | 245,355 | 3,131 | |||
*,1 | Consumer Portfolio Services Inc. | 316,832 | 3,105 | |||
1 | Cherry Hill Mortgage Investment Corp. | 851,086 | 3,089 | |||
* | Maiden Holdings Ltd. | 1,475,921 | 3,040 | |||
Great Ajax Corp. | 821,325 | 2,932 | ||||
First Savings Financial Group Inc. | 159,427 | 2,836 | ||||
Finward Bancorp | 114,714 | 2,813 | ||||
USCB Financial Holdings Inc. | 213,020 | 2,733 | ||||
*,3 | 1895 Bancorp of Wisconsin Inc. | 331,179 | 2,709 | |||
United Security Bancshares | 367,754 | 2,666 | ||||
* | SR Bancorp Inc. | 281,443 | 2,603 | |||
*,1 | Kingsway Financial Services Inc. | 312,061 | 2,571 | |||
* | Finwise Bancorp | 246,228 | 2,514 | |||
First National Corp. | 165,138 | 2,508 | ||||
* | Oportun Financial Corp. | 861,131 | 2,497 | |||
First Northwest Bancorp | 247,244 | 2,396 | ||||
Lument Finance Trust Inc. | 988,070 | 2,371 | ||||
* | SWK Holdings Corp. | 138,755 | 2,357 | |||
Riverview Bancorp Inc. | 578,163 | 2,307 | ||||
1 | Provident Financial Holdings Inc. | 178,916 | 2,236 | |||
1 | TC Bancshares Inc. | 151,263 | 2,042 | |||
*,1 | Bakkt Holdings Inc. Class A | 107,132 | 2,027 | |||
Union Bankshares Inc. | 92,455 | 1,986 | ||||
OppFi Inc. | 543,794 | 1,843 | ||||
Territorial Bancorp Inc. | 226,146 | 1,832 | ||||
* | NSTS Bancorp Inc. | 186,636 | 1,797 | |||
First Capital Inc. | 58,425 | 1,779 | ||||
1 | First Guaranty Bancshares Inc. | 195,977 | 1,764 | |||
*,1 | Catalyst Bancorp Inc. | 151,200 | 1,751 |
Shares | Market Value• ($000) | |||||
Summit State Bank | 181,477 | 1,715 | ||||
* | loanDepot Inc. Class A | 1,014,923 | 1,675 | |||
1 | Associated Capital Group Inc. Class A | 48,920 | 1,664 | |||
* | Doma Holdings Inc. | 254,037 | 1,542 | |||
*,1 | Blue Ridge Bankshares Inc. | 525,645 | 1,372 | |||
* | Broadway Financial Corp. | 264,266 | 1,358 | |||
Manhattan Bridge Capital Inc. | 262,659 | 1,350 | ||||
1 | Hennessy Advisors Inc. | 185,534 | 1,321 | |||
* | First Seacoast Bancorp | 143,594 | 1,298 | |||
1 | Bank of the James Financial Group Inc. | 114,189 | 1,286 | |||
* | Kingstone Cos. Inc. | 236,667 | 1,183 | |||
* | Great Elm Group Inc. | 643,568 | 1,158 | |||
* | Rhinebeck Bancorp Inc. | 139,200 | 1,094 | |||
* | GoHealth Inc. Class A | 111,517 | 1,084 | |||
AmeriServ Financial Inc. | 458,124 | 1,035 | ||||
*,1 | CXApp Inc. | 508,203 | 1,027 | |||
US Global Investors Inc. Class A | 376,672 | 983 | ||||
* | Nicholas Financial Inc. | 148,305 | 974 | |||
* | Bogota Financial Corp. | 141,415 | 952 | |||
*,1 | Central Plains Bancshares Inc. | 79,125 | 800 | |||
*,1 | PB Bankshares Inc. | 51,735 | 732 | |||
*,1 | Finance of America Cos. Inc. Class A | 1,481,602 | 730 | |||
1 | Village Bank & Trust Financial Corp. | 15,210 | 700 | |||
*,1 | OptimumBank Holdings Inc. | 159,269 | 685 | |||
Lake Shore Bancorp Inc. | 49,379 | 618 | ||||
* | BM Technologies Inc. | 261,126 | 588 | |||
*,1 | NeuroOne Medical Technologies Corp. | 712,451 | 570 | |||
* | Bowhead Specialty Holdings Inc. | 20,990 | 532 | |||
*,1 | Bitcoin Depot Inc. | 291,572 | 525 | |||
* | Daxor Corp. | 48,828 | 465 | |||
MarketWise Inc. | 399,134 | 463 | ||||
Crawford & Co. Class A | 51,305 | 443 | ||||
* | Fundamental Global Inc. | 366,807 | 348 | |||
*,1 | Siebert Financial Corp. | 192,508 | 335 | |||
Hanover Bancorp Inc. | 17,404 | 287 | ||||
* | SHF Holdings Inc. | 512,546 | 275 | |||
* | Prairie Operating Co. | 25,157 | 273 | |||
Texas Community Bancshares Inc. | 9,943 | 145 | ||||
*,2 | Vericity Inc. | 9,041 | 103 | |||
First US Bancshares Inc. | 10,546 | 98 | ||||
* | Patriot National Bancorp Inc. | 41,964 | 78 | |||
*,1 | Beneficient Class A | 21,615 | 48 | |||
Glen Burnie Bancorp | 6,195 | 26 | ||||
Atlantic American Corp. | 14,413 | 24 | ||||
* | Generations Bancorp NY Inc. | 1,958 | 21 | |||
* | CaliberCos Inc. Class A | 14,419 | 12 | |||
Federal Agricultural Mortgage Corp. Class A | 59 | 8 | ||||
* | Mill City Ventures III Ltd. | 1,305 | 4 | |||
* | Conifer Holdings Inc. | 3,867 | 3 | |||
173,300,217 | ||||||
Health Care (11.4%) | ||||||
Eli Lilly & Co. | 27,025,485 | 24,468,334 | ||||
UnitedHealth Group Inc. | 29,082,119 | 14,810,360 | ||||
Johnson & Johnson | 76,033,669 | 11,113,081 | ||||
Merck & Co. Inc. | 80,025,130 | 9,907,111 | ||||
AbbVie Inc. | 55,783,533 | 9,567,992 | ||||
Thermo Fisher Scientific Inc. | 12,062,890 | 6,670,778 | ||||
Abbott Laboratories | 54,975,406 | 5,712,494 | ||||
Amgen Inc. | 16,954,729 | 5,297,505 | ||||
Danaher Corp. | 21,067,575 | 5,263,734 | ||||
Pfizer Inc. | 179,128,720 | 5,012,022 | ||||
* | Intuitive Surgical Inc. | 11,211,193 | 4,987,299 | |||
Elevance Health Inc. | 7,346,431 | 3,980,737 | ||||
* | Vertex Pharmaceuticals Inc. | 8,157,169 | 3,823,428 | |||
Stryker Corp. | 10,835,362 | 3,686,732 | ||||
* | Boston Scientific Corp. | 46,451,358 | 3,577,219 | |||
* | Regeneron Pharmaceuticals Inc. | 3,254,785 | 3,420,877 | |||
Medtronic plc | 41,945,830 | 3,301,556 | ||||
Cigna Group | 8,973,136 | 2,966,250 |
Shares | Market Value• ($000) | |||||
Gilead Sciences Inc. | 39,370,517 | 2,701,211 | ||||
Bristol-Myers Squibb Co. | 64,145,668 | 2,663,970 | ||||
Zoetis Inc. Class A | 12,976,591 | 2,249,622 | ||||
Becton Dickinson & Co. | 9,126,400 | 2,132,931 | ||||
HCA Healthcare Inc. | 6,210,452 | 1,995,294 | ||||
* | Edwards Lifesciences Corp. | 18,998,920 | 1,754,930 | |||
* | Dexcom Inc. | 12,575,840 | 1,425,849 | |||
Humana Inc. | 3,806,551 | 1,422,318 | ||||
* | Moderna Inc. | 10,907,853 | 1,295,308 | |||
* | IDEXX Laboratories Inc. | 2,611,083 | 1,272,120 | |||
Agilent Technologies Inc. | 9,258,955 | 1,200,238 | ||||
* | IQVIA Holdings Inc. | 5,479,352 | 1,158,554 | |||
* | Centene Corp. | 16,886,892 | 1,119,601 | |||
GE HealthCare Technologies Inc. | 13,736,333 | 1,070,335 | ||||
* | Biogen Inc. | 4,613,855 | 1,069,584 | |||
* | Alnylam Pharmaceuticals Inc. | 4,015,708 | 975,817 | |||
ResMed Inc. | 4,650,472 | 890,193 | ||||
* | Veeva Systems Inc. Class A | 4,579,700 | 838,131 | |||
West Pharmaceutical Services Inc. | 2,299,650 | 757,482 | ||||
Cardinal Health Inc. | 7,679,701 | 755,068 | ||||
Zimmer Biomet Holdings Inc. | 6,516,541 | 707,240 | ||||
STERIS plc | 3,136,394 | 688,564 | ||||
* | Molina Healthcare Inc. | 1,867,970 | 555,347 | |||
Cooper Cos. Inc. | 6,286,248 | 548,789 | ||||
* | Align Technology Inc. | 2,266,349 | 547,165 | |||
* | Hologic Inc. | 7,351,128 | 545,821 | |||
Baxter International Inc. | 16,165,494 | 540,736 | ||||
Labcorp Holdings Inc. | 2,652,130 | 539,735 | ||||
* | Illumina Inc. | 5,032,725 | 525,316 | |||
* | BioMarin Pharmaceutical Inc. | 6,033,281 | 496,720 | |||
Quest Diagnostics Inc. | 3,501,884 | 479,338 | ||||
* | Avantor Inc. | 21,426,959 | 454,252 | |||
* | Sarepta Therapeutics Inc. | 2,851,347 | 450,513 | |||
* | United Therapeutics Corp. | 1,407,271 | 448,286 | |||
* | Insulet Corp. | 2,210,839 | 446,147 | |||
* | Neurocrine Biosciences Inc. | 3,199,422 | 440,464 | |||
* | Tenet Healthcare Corp. | 3,090,444 | 411,122 | |||
Revvity Inc. | 3,877,847 | 406,631 | ||||
* | Natera Inc. | 3,696,017 | 400,242 | |||
Viatris Inc. | 37,581,465 | 399,491 | ||||
Bio-Techne Corp. | 4,949,608 | 354,639 | ||||
* | Insmed Inc. | 5,090,125 | 341,038 | |||
* | Charles River Laboratories International Inc. | 1,637,193 | 338,211 | |||
Universal Health Services Inc. Class B | 1,798,025 | 332,509 | ||||
* | Medpace Holdings Inc. | 788,738 | 324,842 | |||
Royalty Pharma plc Class A | 12,177,433 | 321,119 | ||||
* | Incyte Corp. | 5,287,416 | 320,523 | |||
Teleflex Inc. | 1,497,511 | 314,971 | ||||
* | Catalent Inc. | 5,408,133 | 304,099 | |||
Encompass Health Corp. | 3,171,963 | 272,123 | ||||
* | Henry Schein Inc. | 4,056,010 | 259,990 | |||
Chemed Corp. | 474,551 | 257,482 | ||||
* | Exact Sciences Corp. | 5,877,655 | 248,331 | |||
* | Globus Medical Inc. Class A | 3,538,757 | 242,369 | |||
* | HealthEquity Inc. | 2,760,260 | 237,934 | |||
* | Vaxcyte Inc. | 3,073,927 | 232,112 | |||
* | Solventum Corp. | 4,354,514 | 230,267 | |||
* | Elanco Animal Health Inc. | 15,497,626 | 223,631 | |||
Ensign Group Inc. | 1,798,168 | 222,415 | ||||
* | Intra-Cellular Therapies Inc. | 3,207,337 | 219,671 | |||
* | Blueprint Medicines Corp. | 1,995,109 | 215,033 | |||
Bruker Corp. | 3,344,447 | 213,409 | ||||
* | DaVita Inc. | 1,533,091 | 212,440 | |||
* | Repligen Corp. | 1,678,371 | 211,575 | |||
* | Halozyme Therapeutics Inc. | 4,027,558 | 210,883 | |||
* | Penumbra Inc. | 1,155,221 | 207,905 | |||
* | Ionis Pharmaceuticals Inc. | 4,243,655 | 202,253 | |||
* | Masimo Corp. | 1,603,131 | 201,898 | |||
* | Jazz Pharmaceuticals plc | 1,875,333 | 200,154 | |||
* | Exelixis Inc. | 8,845,802 | 198,765 |
Shares | Market Value• ($000) | |||||
* | Cytokinetics Inc. | 3,619,985 | 196,131 | |||
* | Acadia Healthcare Co. Inc. | 2,775,552 | 187,461 | |||
* | REVOLUTION Medicines Inc. | 4,737,370 | 183,857 | |||
* | Glaukos Corp. | 1,522,262 | 180,160 | |||
* | Lantheus Holdings Inc. | 2,213,732 | 177,741 | |||
* | Viking Therapeutics Inc. | 3,319,289 | 175,956 | |||
* | Bio-Rad Laboratories Inc. Class A | 620,973 | 169,594 | |||
Organon & Co. | 8,017,622 | 165,965 | ||||
DENTSPLY SIRONA Inc. | 6,580,166 | 163,912 | ||||
*,1 | Madrigal Pharmaceuticals Inc. | 577,824 | 161,883 | |||
* | Option Care Health Inc. | 5,489,620 | 152,062 | |||
* | Krystal Biotech Inc. | 823,872 | 151,296 | |||
* | Merit Medical Systems Inc. | 1,747,529 | 150,200 | |||
* | TransMedics Group Inc. | 984,867 | 148,341 | |||
* | Haemonetics Corp. | 1,602,920 | 132,610 | |||
* | Avidity Biosciences Inc. | 3,185,958 | 130,146 | |||
* | Alkermes plc | 5,250,545 | 126,538 | |||
* | Apellis Pharmaceuticals Inc. | 3,297,740 | 126,501 | |||
* | Inspire Medical Systems Inc. | 938,705 | 125,627 | |||
* | RadNet Inc. | 2,074,324 | 122,219 | |||
* | Integer Holdings Corp. | 1,051,877 | 121,797 | |||
* | Bridgebio Pharma Inc. | 4,524,390 | 114,603 | |||
Select Medical Holdings Corp. | 3,232,417 | 113,329 | ||||
* | Ultragenyx Pharmaceutical Inc. | 2,717,959 | 111,708 | |||
Perrigo Co. plc | 4,226,012 | 108,524 | ||||
* | Prestige Consumer Healthcare Inc. | 1,575,742 | 108,490 | |||
* | Axonics Inc. | 1,607,550 | 108,076 | |||
* | Crinetics Pharmaceuticals Inc. | 2,399,342 | 107,467 | |||
* | Guardant Health Inc. | 3,632,116 | 104,896 | |||
* | iRhythm Technologies Inc. | 938,762 | 101,048 | |||
* | Hims & Hers Health Inc. | 4,914,091 | 99,215 | |||
* | Arrowhead Pharmaceuticals Inc. | 3,699,482 | 96,150 | |||
* | Axsome Therapeutics Inc. | 1,189,401 | 95,747 | |||
* | Neogen Corp. | 6,117,666 | 95,619 | |||
* | PROCEPT BioRobotics Corp. | 1,561,840 | 95,413 | |||
* | Amedisys Inc. | 1,033,963 | 94,918 | |||
* | Cerevel Therapeutics Holdings Inc. | 2,303,176 | 94,177 | |||
* | Nuvalent Inc. Class A | 1,237,002 | 93,839 | |||
* | Amicus Therapeutics Inc. | 9,369,353 | 92,944 | |||
* | Dyne Therapeutics Inc. | 2,626,715 | 92,697 | |||
* | Doximity Inc. Class A | 3,300,276 | 92,309 | |||
* | Envista Holdings Corp. | 5,323,576 | 88,531 | |||
* | Twist Bioscience Corp. | 1,740,960 | 85,795 | |||
* | ICU Medical Inc. | 713,668 | 84,748 | |||
* | Corcept Therapeutics Inc. | 2,592,286 | 84,223 | |||
* | Tandem Diabetes Care Inc. | 2,082,376 | 83,899 | |||
* | Azenta Inc. | 1,584,796 | 83,392 | |||
* | Denali Therapeutics Inc. | 3,491,006 | 81,061 | |||
* | Enovis Corp. | 1,769,446 | 79,979 | |||
* | SpringWorks Therapeutics Inc. | 2,079,018 | 78,317 | |||
* | Ideaya Biosciences Inc. | 2,227,239 | 78,198 | |||
* | Rhythm Pharmaceuticals Inc. | 1,887,018 | 77,481 | |||
* | TG Therapeutics Inc. | 4,312,402 | 76,718 | |||
* | Biohaven Ltd. | 2,199,732 | 76,353 | |||
* | CorVel Corp. | 299,901 | 76,256 | |||
* | Agios Pharmaceuticals Inc. | 1,754,750 | 75,665 | |||
* | Geron Corp. | 17,808,267 | 75,507 | |||
* | ADMA Biologics Inc. | 6,745,479 | 75,414 | |||
* | Celldex Therapeutics Inc. | 2,020,330 | 74,772 | |||
* | Inari Medical Inc. | 1,547,057 | 74,491 | |||
* | STAAR Surgical Co. | 1,555,778 | 74,071 | |||
* | Progyny Inc. | 2,546,074 | 72,843 | |||
* | PTC Therapeutics Inc. | 2,371,315 | 72,515 | |||
* | Arcellx Inc. | 1,275,049 | 70,370 | |||
* | Vericel Corp. | 1,507,985 | 69,186 | |||
CONMED Corp. | 981,617 | 68,046 | ||||
* | RxSight Inc. | 1,107,487 | 66,637 | |||
* | Evolent Health Inc. Class A | 3,478,148 | 66,502 | |||
* | Addus HomeCare Corp. | 564,389 | 65,531 | |||
* | Fortrea Holdings Inc. | 2,805,350 | 65,477 |
Shares | Market Value• ($000) | |||||
* | Myriad Genetics Inc. | 2,645,554 | 64,710 | |||
* | Intellia Therapeutics Inc. | 2,851,658 | 63,820 | |||
Premier Inc. Class A | 3,408,856 | 63,643 | ||||
* | Iovance Biotherapeutics Inc. | 7,885,708 | 63,243 | |||
* | ACADIA Pharmaceuticals Inc. | 3,859,726 | 62,721 | |||
* | agilon health Inc. | 9,569,077 | 62,582 | |||
* | Integra LifeSciences Holdings Corp. | 2,127,424 | 61,993 | |||
* | Privia Health Group Inc. | 3,482,645 | 60,528 | |||
* | UFP Technologies Inc. | 229,244 | 60,491 | |||
Patterson Cos. Inc. | 2,471,021 | 59,601 | ||||
* | Protagonist Therapeutics Inc. | 1,693,149 | 58,668 | |||
* | Novocure Ltd. | 3,418,149 | 58,553 | |||
* | 10X Genomics Inc. Class A | 2,977,289 | 57,908 | |||
* | Surgery Partners Inc. | 2,427,578 | 57,752 | |||
* | R1 RCM Inc. | 4,557,291 | 57,240 | |||
* | Immunovant Inc. | 2,113,168 | 55,788 | |||
* | NeoGenomics Inc. | 3,992,321 | 55,373 | |||
* | Catalyst Pharmaceuticals Inc. | 3,549,557 | 54,983 | |||
* | Beam Therapeutics Inc. | 2,333,173 | 54,666 | |||
* | Astrana Health Inc. | 1,346,840 | 54,628 | |||
*,1 | Novavax Inc. | 4,252,172 | 53,832 | |||
* | Veracyte Inc. | 2,462,041 | 53,352 | |||
* | Syndax Pharmaceuticals Inc. | 2,593,879 | 53,252 | |||
* | Rocket Pharmaceuticals Inc. | 2,461,315 | 52,992 | |||
*,1 | Recursion Pharmaceuticals Inc. Class A | 7,009,442 | 52,571 | |||
* | Certara Inc. | 3,768,127 | 52,189 | |||
* | Ardelyx Inc. | 7,023,410 | 52,043 | |||
* | QuidelOrtho Corp. | 1,552,231 | 51,565 | |||
LeMaitre Vascular Inc. | 625,527 | 51,468 | ||||
* | Arvinas Inc. | 1,912,261 | 50,904 | |||
* | Teladoc Health Inc. | 5,183,183 | 50,692 | |||
* | Vera Therapeutics Inc. Class A | 1,331,207 | 48,163 | |||
* | Sotera Health Co. | 4,055,462 | 48,138 | |||
*,1 | Mirum Pharmaceuticals Inc. | 1,405,158 | 48,042 | |||
* | Warby Parker Inc. Class A | 2,954,285 | 47,446 | |||
* | Dynavax Technologies Corp. | 4,189,864 | 47,052 | |||
National HealthCare Corp. | 429,063 | 46,510 | ||||
*,1 | Apogee Therapeutics Inc. | 1,172,550 | 46,140 | |||
* | Edgewise Therapeutics Inc. | 2,548,164 | 45,892 | |||
* | Kymera Therapeutics Inc. | 1,530,371 | 45,682 | |||
* | Akero Therapeutics Inc. | 1,938,830 | 45,485 | |||
* | Supernus Pharmaceuticals Inc. | 1,675,794 | 44,827 | |||
* | Ligand Pharmaceuticals Inc. | 529,203 | 44,591 | |||
* | Amphastar Pharmaceuticals Inc. | 1,101,399 | 44,056 | |||
* | Keros Therapeutics Inc. | 959,822 | 43,864 | |||
US Physical Therapy Inc. | 462,779 | 42,770 | ||||
* | Kura Oncology Inc. | 2,057,559 | 42,365 | |||
*,1 | MannKind Corp. | 8,100,499 | 42,285 | |||
* | Avadel Pharmaceuticals plc | 2,982,600 | 41,935 | |||
* | Morphic Holding Inc. | 1,204,361 | 41,033 | |||
* | BioCryst Pharmaceuticals Inc. | 6,576,199 | 40,641 | |||
* | Nurix Therapeutics Inc. | 1,901,525 | 39,685 | |||
* | Pacira BioSciences Inc. | 1,375,241 | 39,346 | |||
* | Brookdale Senior Living Inc. | 5,614,550 | 38,347 | |||
* | Omnicell Inc. | 1,411,700 | 38,215 | |||
* | ANI Pharmaceuticals Inc. | 587,573 | 37,417 | |||
*,1 | Soleno Therapeutics Inc. | 912,510 | 37,230 | |||
* | Phreesia Inc. | 1,710,944 | 36,272 | |||
* | Xencor Inc. | 1,893,762 | 35,849 | |||
* | AtriCure Inc. | 1,475,926 | 33,607 | |||
*,1 | Janux Therapeutics Inc. | 795,092 | 33,306 | |||
* | Silk Road Medical Inc. | 1,200,410 | 32,459 | |||
* | Collegium Pharmaceutical Inc. | 992,745 | 31,966 | |||
* | Alphatec Holdings Inc. | 3,042,267 | 31,792 | |||
*,1 | Ocular Therapeutix Inc. | 4,517,530 | 30,900 | |||
* | Owens & Minor Inc. | 2,282,710 | 30,817 | |||
* | Vir Biotechnology Inc. | 3,457,160 | 30,769 | |||
* | 4D Molecular Therapeutics Inc. | 1,456,227 | 30,566 | |||
* | Tarsus Pharmaceuticals Inc. | 1,104,951 | 30,033 | |||
* | Harmony Biosciences Holdings Inc. | 991,685 | 29,919 |
Shares | Market Value• ($000) | |||||
* | Artivion Inc. | 1,164,145 | 29,860 | |||
* | Longboard Pharmaceuticals Inc. | 1,094,394 | 29,581 | |||
* | Disc Medicine Inc. | 655,991 | 29,566 | |||
* | Avanos Medical Inc. | 1,451,466 | 28,913 | |||
* | BioLife Solutions Inc. | 1,328,704 | 28,474 | |||
*,1 | Waystar Holding Corp. | 1,314,467 | 28,261 | |||
*,1 | Summit Therapeutics Inc. | 3,591,598 | 28,014 | |||
* | Innoviva Inc. | 1,688,511 | 27,692 | |||
* | Amneal Pharmaceuticals Inc. | 4,351,961 | 27,635 | |||
*,1 | Arcutis Biotherapeutics Inc. | 2,955,871 | 27,490 | |||
* | Ironwood Pharmaceuticals Inc. Class A | 4,127,440 | 26,911 | |||
*,1 | ImmunityBio Inc. | 4,199,294 | 26,540 | |||
* | Cullinan Therapeutics Inc. | 1,500,557 | 26,170 | |||
* | CareDx Inc. | 1,683,810 | 26,150 | |||
* | Cogent Biosciences Inc. | 3,084,365 | 26,001 | |||
* | AdaptHealth Corp. Class A | 2,599,180 | 25,992 | |||
* | Day One Biopharmaceuticals Inc. | 1,884,570 | 25,969 | |||
*,1 | Spyre Therapeutics Inc. | 1,099,500 | 25,849 | |||
* | Relay Therapeutics Inc. | 3,869,332 | 25,228 | |||
* | MiMedx Group Inc. | 3,637,033 | 25,205 | |||
*,1 | Enliven Therapeutics Inc. | 1,076,769 | 25,164 | |||
* | Healthcare Services Group Inc. | 2,330,885 | 24,661 | |||
* | Arcus Biosciences Inc. | 1,614,554 | 24,590 | |||
* | Maravai LifeSciences Holdings Inc. Class A | 3,386,790 | 24,249 | |||
*,1 | CG oncology Inc. | 754,915 | 23,833 | |||
Embecta Corp. | 1,905,143 | 23,814 | ||||
*,1 | Neumora Therapeutics Inc. | 2,390,300 | 23,497 | |||
* | Kiniksa Pharmaceuticals International plc Class A | 1,247,060 | 23,283 | |||
* | Alignment Healthcare Inc. | 2,949,538 | 23,065 | |||
* | Viridian Therapeutics Inc. | 1,766,510 | 22,982 | |||
* | Sana Biotechnology Inc. | 4,183,187 | 22,840 | |||
* | Liquidia Corp. | 1,883,473 | 22,602 | |||
*,1 | Pliant Therapeutics Inc. | 2,028,309 | 21,804 | |||
* | Stoke Therapeutics Inc. | 1,606,136 | 21,699 | |||
* | Praxis Precision Medicines Inc. | 520,522 | 21,529 | |||
*,1 | PACS Group Inc. | 707,898 | 20,883 | |||
*,1 | Harrow Inc. | 993,657 | 20,757 | |||
* | 89bio Inc. | 2,568,880 | 20,577 | |||
* | Travere Therapeutics Inc. | 2,502,357 | 20,569 | |||
HealthStream Inc. | 723,045 | 20,173 | ||||
*,1 | Immunome Inc. | 1,636,258 | 19,799 | |||
* | Pennant Group Inc. | 842,023 | 19,527 | |||
* | Pediatrix Medical Group Inc. | 2,582,426 | 19,497 | |||
* | Cytek Biosciences Inc. | 3,474,084 | 19,385 | |||
* | Scholar Rock Holding Corp. | 2,294,484 | 19,113 | |||
Atrion Corp. | 42,067 | 19,032 | ||||
*,1 | Dianthus Therapeutics Inc. | 728,741 | 18,860 | |||
* | iTeos Therapeutics Inc. | 1,268,845 | 18,830 | |||
* | Varex Imaging Corp. | 1,241,736 | 18,291 | |||
* | PetIQ Inc. Class A | 826,067 | 18,223 | |||
* | Zymeworks Inc. | 2,132,127 | 18,144 | |||
* | GoodRx Holdings Inc. Class A | 2,306,826 | 17,993 | |||
*,1 | Cassava Sciences Inc. | 1,450,700 | 17,916 | |||
* | Nuvation Bio Inc. | 6,128,150 | 17,894 | |||
*,1 | BrightSpring Health Services Inc. | 1,573,880 | 17,879 | |||
* | Surmodics Inc. | 422,044 | 17,743 | |||
* | Castle Biosciences Inc. | 797,404 | 17,359 | |||
*,1 | Altimmune Inc. | 2,584,274 | 17,185 | |||
* | Arcturus Therapeutics Holdings Inc. | 697,640 | 16,988 | |||
*,1 | Perspective Therapeutics Inc. | 1,689,989 | 16,849 | |||
* | Sage Therapeutics Inc. | 1,550,086 | 16,834 | |||
* | Celcuity Inc. | 1,004,953 | 16,461 | |||
* | Evolus Inc. | 1,512,936 | 16,415 | |||
*,1 | Heron Therapeutics Inc. | 4,683,800 | 16,393 | |||
* | REGENXBIO Inc. | 1,362,445 | 15,941 | |||
* | Savara Inc. | 3,936,294 | 15,863 | |||
*,1 | ARS Pharmaceuticals Inc. | 1,861,007 | 15,837 | |||
* | SI-BONE Inc. | 1,220,330 | 15,779 | |||
* | Olema Pharmaceuticals Inc. | 1,457,139 | 15,766 | |||
* | Tango Therapeutics Inc. | 1,837,409 | 15,765 |
Shares | Market Value• ($000) | |||||
*,1 | Cargo Therapeutics Inc. | 956,618 | 15,708 | |||
* | Zimvie Inc. | 834,529 | 15,230 | |||
*,1 | Ginkgo Bioworks Holdings Inc. Class A | 44,824,688 | 14,985 | |||
* | Corbus Pharmaceuticals Holdings Inc. | 329,220 | 14,897 | |||
* | Orthofix Medical Inc. | 1,123,235 | 14,894 | |||
*,1 | LifeStance Health Group Inc. | 3,015,362 | 14,805 | |||
*,1 | Applied Therapeutics Inc. | 3,153,938 | 14,729 | |||
* | Standard BioTools Inc. | 8,271,664 | 14,641 | |||
* | Avid Bioservices Inc. | 2,048,596 | 14,627 | |||
* | Erasca Inc. | 6,146,813 | 14,506 | |||
* | Adaptive Biotechnologies Corp. | 3,995,303 | 14,463 | |||
* | Enhabit Inc. | 1,591,459 | 14,196 | |||
* | Replimune Group Inc. | 1,545,509 | 13,910 | |||
*,1 | Annexon Inc. | 2,829,766 | 13,866 | |||
* | Quanterix Corp. | 1,038,320 | 13,716 | |||
* | OrthoPediatrics Corp. | 475,337 | 13,671 | |||
National Research Corp. | 589,022 | 13,518 | ||||
*,1 | Phathom Pharmaceuticals Inc. | 1,297,116 | 13,360 | |||
* | ORIC Pharmaceuticals Inc. | 1,880,490 | 13,295 | |||
* | AnaptysBio Inc. | 527,671 | 13,223 | |||
* | Community Health Systems Inc. | 3,928,756 | 13,201 | |||
* | Astria Therapeutics Inc. | 1,432,814 | 13,039 | |||
*,1 | Ocugen Inc. | 8,393,789 | 13,010 | |||
* | EyePoint Pharmaceuticals Inc. | 1,487,245 | 12,939 | |||
* | GRAIL Inc. | 841,535 | 12,934 | |||
* | Voyager Therapeutics Inc. | 1,627,895 | 12,877 | |||
* | KalVista Pharmaceuticals Inc. | 1,084,834 | 12,779 | |||
*,1 | Esperion Therapeutics Inc. | 5,669,929 | 12,587 | |||
*,1 | Clover Health Investments Corp. Class A | 10,033,492 | 12,341 | |||
*,1 | Pacific Biosciences of California Inc. | 8,930,679 | 12,235 | |||
*,1 | Neurogene Inc. | 335,977 | 12,226 | |||
* | Arbutus Biopharma Corp. | 3,925,846 | 12,131 | |||
* | Y-mAbs Therapeutics Inc. | 997,061 | 12,044 | |||
*,1 | Sharecare Inc. | 8,885,896 | 11,996 | |||
* | Fulgent Genetics Inc. | 604,635 | 11,863 | |||
* | Editas Medicine Inc. | 2,503,876 | 11,693 | |||
* | Health Catalyst Inc. | 1,822,128 | 11,643 | |||
*,1 | Tyra Biosciences Inc. | 724,091 | 11,578 | |||
* | MaxCyte Inc. | 2,952,768 | 11,575 | |||
* | Fulcrum Therapeutics Inc. | 1,852,255 | 11,484 | |||
*,1 | Humacyte Inc. | 2,387,975 | 11,462 | |||
*,1 | Emergent BioSolutions Inc. | 1,636,319 | 11,160 | |||
* | Anika Therapeutics Inc. | 439,412 | 11,130 | |||
*,1 | Prime Medicine Inc. | 2,164,971 | 11,128 | |||
*,1 | OPKO Health Inc. | 8,853,191 | 11,066 | |||
*,1 | Agenus Inc. | 654,905 | 10,970 | |||
* | Nkarta Inc. | 1,818,558 | 10,748 | |||
* | Alector Inc. | 2,365,571 | 10,740 | |||
*,1 | GeneDx Holdings Corp. Class A | 410,782 | 10,738 | |||
*,1 | HilleVax Inc. | 736,127 | 10,644 | |||
*,1 | Verve Therapeutics Inc. | 2,153,946 | 10,511 | |||
*,1 | Anavex Life Sciences Corp. | 2,460,500 | 10,383 | |||
iRadimed Corp. | 236,303 | 10,383 | ||||
* | ACELYRIN Inc. | 2,295,657 | 10,124 | |||
*,1 | Allogene Therapeutics Inc. | 4,337,709 | 10,107 | |||
* | Taysha Gene Therapies Inc. | 4,456,319 | 9,982 | |||
*,1 | C4 Therapeutics Inc. | 2,135,945 | 9,868 | |||
*,1 | Korro Bio Inc. | 291,299 | 9,866 | |||
* | Cabaletta Bio Inc. | 1,312,191 | 9,815 | |||
* | Larimar Therapeutics Inc. | 1,341,890 | 9,729 | |||
* | Fate Therapeutics Inc. | 2,962,285 | 9,716 | |||
* | Nevro Corp. | 1,152,806 | 9,707 | |||
* | Treace Medical Concepts Inc. | 1,458,503 | 9,699 | |||
* | Xeris Biopharma Holdings Inc. | 4,254,957 | 9,574 | |||
Phibro Animal Health Corp. Class A | 570,414 | 9,566 | ||||
* | Cerus Corp. | 5,429,900 | 9,557 | |||
* | OraSure Technologies Inc. | 2,201,925 | 9,380 | |||
* | Vanda Pharmaceuticals Inc. | 1,659,646 | 9,377 | |||
* | Axogen Inc. | 1,285,874 | 9,310 | |||
* | Theravance Biopharma Inc. | 1,074,744 | 9,114 |
Shares | Market Value• ($000) | |||||
* | ModivCare Inc. | 347,165 | 9,110 | |||
*,1 | Jasper Therapeutics Inc. | 401,219 | 9,108 | |||
* | Tactile Systems Technology Inc. | 753,016 | 8,991 | |||
1 | LENZ Therapeutics Inc. | 513,929 | 8,886 | |||
* | Entrada Therapeutics Inc. | 619,569 | 8,829 | |||
* | Terns Pharmaceuticals Inc. | 1,293,066 | 8,806 | |||
SIGA Technologies Inc. | 1,153,605 | 8,756 | ||||
* | MacroGenics Inc. | 2,001,885 | 8,508 | |||
*,1 | Lyell Immunopharma Inc. | 5,817,818 | 8,436 | |||
Tourmaline Bio Inc. | 646,415 | 8,313 | ||||
* | Paragon 28 Inc. | 1,196,961 | 8,187 | |||
* | Enanta Pharmaceuticals Inc. | 629,597 | 8,166 | |||
* | Talkspace Inc. | 3,524,694 | 8,107 | |||
*,1 | Revance Therapeutics Inc. | 3,094,072 | 7,952 | |||
*,1 | OmniAb Inc. | 2,116,464 | 7,937 | |||
* | Accolade Inc. | 2,213,022 | 7,923 | |||
* | PepGen Inc. | 492,801 | 7,865 | |||
* | Mineralys Therapeutics Inc. | 669,649 | 7,835 | |||
* | Atea Pharmaceuticals Inc. | 2,363,327 | 7,823 | |||
* | Zentalis Pharmaceuticals Inc. | 1,893,087 | 7,743 | |||
*,1 | Omeros Corp. | 1,879,634 | 7,631 | |||
*,1 | ArriVent Biopharma Inc. | 411,002 | 7,624 | |||
*,1 | DocGo Inc. | 2,449,873 | 7,570 | |||
*,1 | ProKidney Corp. Class A | 2,969,235 | 7,304 | |||
*,1 | Absci Corp. | 2,349,021 | 7,235 | |||
* | TScan Therapeutics Inc. | 1,234,835 | 7,224 | |||
Utah Medical Products Inc. | 108,096 | 7,222 | ||||
*,1 | CorMedix Inc. | 1,650,556 | 7,147 | |||
* | AngioDynamics Inc. | 1,175,947 | 7,114 | |||
* | Nektar Therapeutics Class A | 5,724,732 | 7,099 | |||
*,1 | Gossamer Bio Inc. | 7,840,740 | 7,064 | |||
*,1 | Inozyme Pharma Inc. | 1,557,862 | 6,948 | |||
* | Pulmonx Corp. | 1,090,671 | 6,915 | |||
*,1 | Zynex Inc. | 733,808 | 6,839 | |||
*,1 | Third Harmonic Bio Inc. | 517,116 | 6,723 | |||
* | Joint Corp. | 469,145 | 6,596 | |||
*,1 | Lexicon Pharmaceuticals Inc. | 3,892,609 | 6,540 | |||
* | Codexis Inc. | 2,075,798 | 6,435 | |||
* | Aura Biosciences Inc. | 848,999 | 6,418 | |||
* | Mersana Therapeutics Inc. | 3,187,892 | 6,408 | |||
* | Tenaya Therapeutics Inc. | 2,064,246 | 6,399 | |||
*,1 | Biote Corp. Class A | 856,603 | 6,399 | |||
*,1 | Outset Medical Inc. | 1,647,932 | 6,345 | |||
*,1 | Avita Medical Inc. | 800,719 | 6,342 | |||
*,1 | Precigen Inc. | 3,997,367 | 6,316 | |||
*,1 | Context Therapeutics Inc. | 3,124,400 | 6,264 | |||
*,1 | Aquestive Therapeutics Inc. | 2,404,170 | 6,251 | |||
*,1 | Semler Scientific Inc. | 181,351 | 6,238 | |||
* | Sight Sciences Inc. | 933,753 | 6,228 | |||
* | Actinium Pharmaceuticals Inc. | 819,633 | 6,065 | |||
* | ChromaDex Corp. | 2,196,484 | 5,996 | |||
*,1 | XOMA Corp. | 252,910 | 5,991 | |||
* | Inogen Inc. | 733,584 | 5,964 | |||
*,1 | Viemed Healthcare Inc. | 908,456 | 5,950 | |||
*,1 | Verrica Pharmaceuticals Inc. | 815,893 | 5,948 | |||
*,1 | Renovaro Inc. | 3,341,900 | 5,848 | |||
* | Aldeyra Therapeutics Inc. | 1,758,714 | 5,821 | |||
*,1 | Inovio Pharmaceuticals Inc. | 714,469 | 5,773 | |||
*,1 | Bluebird Bio Inc. | 5,862,463 | 5,770 | |||
*,1 | Pulse Biosciences Inc. | 515,014 | 5,763 | |||
*,1 | Coherus Biosciences Inc. | 3,329,698 | 5,760 | |||
*,1 | Scilex Holding Co. | 2,977,119 | 5,746 | |||
* | Poseida Therapeutics Inc. Class A | 1,953,811 | 5,705 | |||
*,1 | Orchestra BioMed Holdings Inc. | 698,140 | 5,690 | |||
*,1 | Black Diamond Therapeutics Inc. | 1,206,831 | 5,624 | |||
*,1 | 2seventy bio Inc. | 1,455,053 | 5,602 | |||
* | Accuray Inc. | 3,061,222 | 5,571 | |||
*,1 | Akebia Therapeutics Inc. | 5,336,188 | 5,443 | |||
*,1 | Fennec Pharmaceuticals Inc. | 876,208 | 5,354 | |||
*,1 | Contineum Therapeutics Inc. Class A | 299,583 | 5,276 |
Shares | Market Value• ($000) | |||||
* | Sutro Biopharma Inc. | 1,791,706 | 5,250 | |||
* | NeuroPace Inc. | 694,155 | 5,248 | |||
*,1 | Senseonics Holdings Inc. | 13,150,746 | 5,247 | |||
*,1 | Delcath Systems Inc. | 625,773 | 5,238 | |||
*,1 | ALX Oncology Holdings Inc. | 861,586 | 5,195 | |||
*,1 | Zevra Therapeutics Inc. | 1,052,343 | 5,156 | |||
* | Bioventus Inc. Class A | 893,474 | 5,137 | |||
*,1 | Shattuck Labs Inc. | 1,314,560 | 5,074 | |||
* | OptimizeRx Corp. | 506,691 | 5,067 | |||
* | Monte Rosa Therapeutics Inc. | 1,350,106 | 5,049 | |||
*,1 | Abeona Therapeutics Inc. | 1,186,465 | 5,031 | |||
*,1 | Zomedica Corp. | 33,158,730 | 4,848 | |||
*,1 | Solid Biosciences Inc. | 854,682 | 4,846 | |||
*,1 | Vaxart Inc. | 7,158,987 | 4,777 | |||
*,1 | Kyverna Therapeutics Inc. | 633,844 | 4,754 | |||
*,1 | CVRx Inc. | 395,348 | 4,740 | |||
*,1 | Atossa Therapeutics Inc. | 3,939,441 | 4,688 | |||
*,1 | Multiplan Corp. | 12,054,814 | 4,682 | |||
* | Rezolute Inc. | 1,081,601 | 4,651 | |||
* | Caribou Biosciences Inc. | 2,768,629 | 4,541 | |||
* | FONAR Corp. | 283,133 | 4,530 | |||
* | Rigel Pharmaceuticals Inc. | 548,780 | 4,511 | |||
*,1 | CervoMed Inc. | 263,000 | 4,503 | |||
* | Trevi Therapeutics Inc. | 1,505,149 | 4,485 | |||
*,1 | Regulus Therapeutics Inc. | 2,501,083 | 4,464 | |||
*,1 | Vistagen Therapeutics Inc. | 1,278,817 | 4,450 | |||
* | Organogenesis Holdings Inc. Class A | 1,588,928 | 4,449 | |||
* | InfuSystem Holdings Inc. | 646,726 | 4,417 | |||
*,1 | Lineage Cell Therapeutics Inc. | 4,416,552 | 4,405 | |||
* | Generation Bio Co. | 1,557,423 | 4,392 | |||
*,1 | Lexeo Therapeutics Inc. | 272,700 | 4,374 | |||
*,1 | TruBridge Inc. | 434,694 | 4,347 | |||
*,1 | ClearPoint Neuro Inc. | 804,249 | 4,335 | |||
* | Inhibrx Biosciences Inc. | 304,069 | 4,309 | |||
*,1 | Capricor Therapeutics Inc. | 872,176 | 4,160 | |||
*,1 | Puma Biotechnology Inc. | 1,271,564 | 4,145 | |||
* | Nautilus Biotechnology Inc. Class A | 1,745,090 | 4,084 | |||
* | Adverum Biotechnologies Inc. | 586,245 | 4,022 | |||
* | Lifecore Biomedical Inc. | 775,941 | 3,981 | |||
*,1 | Alto Neuroscience Inc. | 367,821 | 3,932 | |||
* | 908 Devices Inc. | 759,302 | 3,910 | |||
* | Aveanna Healthcare Holdings Inc. | 1,394,296 | 3,848 | |||
*,4 | Scilex Holding Co. (Acquired 1/23/23, Cost $19,536) | 2,203,228 | 3,827 | |||
* | Electromed Inc. | 253,800 | 3,815 | |||
*,1 | Assertio Holdings Inc. | 3,013,166 | 3,736 | |||
*,1 | scPharmaceuticals Inc. | 848,635 | 3,692 | |||
*,1 | Butterfly Network Inc. | 4,381,447 | 3,684 | |||
* | Sera Prognostics Inc. Class A | 620,816 | 3,675 | |||
*,1 | 23andMe Holding Co. Class A | 9,346,003 | 3,656 | |||
* | Harvard Bioscience Inc. | 1,261,693 | 3,596 | |||
* | Amylyx Pharmaceuticals Inc. | 1,811,143 | 3,441 | |||
*,1 | Foghorn Therapeutics Inc. | 597,869 | 3,438 | |||
*,1 | RAPT Therapeutics Inc. | 1,123,686 | 3,427 | |||
*,1 | Cartesian Therapeutics Inc. | 126,634 | 3,420 | |||
* | Syros Pharmaceuticals Inc. | 654,183 | 3,376 | |||
*,1 | Coya Therapeutics Inc. | 556,897 | 3,375 | |||
* | Invivyd Inc. | 2,986,726 | 3,285 | |||
*,1 | Ventyx Biosciences Inc. | 1,392,604 | 3,217 | |||
*,1 | XBiotech Inc. | 623,356 | 3,204 | |||
*,1 | Biomea Fusion Inc. | 711,773 | 3,203 | |||
*,1 | Inmune Bio Inc. | 362,018 | 3,193 | |||
*,1 | Quantum-Si Inc. | 3,017,586 | 3,168 | |||
*,1 | IGM Biosciences Inc. | 461,049 | 3,167 | |||
*,1 | G1 Therapeutics Inc. | 1,386,934 | 3,162 | |||
* | Innovage Holding Corp. | 630,750 | 3,129 | |||
*,1 | Tela Bio Inc. | 643,290 | 3,023 | |||
*,1 | KORU Medical Systems Inc. | 1,140,651 | 3,023 | |||
*,1 | Stereotaxis Inc. | 1,652,361 | 3,007 | |||
*,1 | Pyxis Oncology Inc. | 905,317 | 2,997 | |||
* | Athira Pharma Inc. | 1,121,110 | 2,971 |
Shares | Market Value• ($000) | |||||
*,1 | Achieve Life Sciences Inc. | 631,821 | 2,970 | |||
*,1 | Karyopharm Therapeutics Inc. | 3,421,515 | 2,969 | |||
* | Sensus Healthcare Inc. | 555,562 | 2,961 | |||
*,1 | X4 Pharmaceuticals Inc. | 5,034,386 | 2,920 | |||
*,1 | Elevation Oncology Inc. | 1,066,650 | 2,880 | |||
*,1 | Galectin Therapeutics Inc. | 1,247,562 | 2,819 | |||
*,1 | Candel Therapeutics Inc. | 453,810 | 2,814 | |||
*,1 | Cardiff Oncology Inc. | 1,254,717 | 2,785 | |||
*,1 | Myomo Inc. | 866,170 | 2,780 | |||
* | Acumen Pharmaceuticals Inc. | 1,146,316 | 2,774 | |||
*,1 | Optinose Inc. | 2,646,505 | 2,752 | |||
* | Alimera Sciences Inc. | 494,194 | 2,748 | |||
*,1 | Prelude Therapeutics Inc. | 720,427 | 2,745 | |||
* | aTyr Pharma Inc. | 1,748,835 | 2,728 | |||
*,1 | PDS Biotechnology Corp. | 930,114 | 2,725 | |||
*,2 | PDL BioPharma Inc. | 2,258,201 | 2,687 | |||
*,1 | Seer Inc. Class A | 1,594,055 | 2,678 | |||
*,1 | CytomX Therapeutics Inc. | 2,185,462 | 2,666 | |||
*,1 | Greenwich Lifesciences Inc. | 153,459 | 2,649 | |||
*,1 | Sagimet Biosciences Inc. Class A | 763,985 | 2,613 | |||
*,1 | FibroGen Inc. | 2,916,871 | 2,603 | |||
* | Asensus Surgical Inc. | 7,734,650 | 2,576 | |||
* | Clearside Biomedical Inc. | 1,970,683 | 2,562 | |||
*,1 | Relmada Therapeutics Inc. | 851,916 | 2,556 | |||
* | Chimerix Inc. | 2,904,360 | 2,544 | |||
*,1 | Vigil Neuroscience Inc. | 620,140 | 2,481 | |||
* | PMV Pharmaceuticals Inc. | 1,524,487 | 2,470 | |||
*,1 | Citius Pharmaceuticals Inc. | 4,139,603 | 2,416 | |||
*,1 | Verastem Inc. | 797,148 | 2,376 | |||
* | Design Therapeutics Inc. | 703,901 | 2,358 | |||
*,1 | Checkpoint Therapeutics Inc. | 1,092,798 | 2,350 | |||
*,1 | Allakos Inc. | 2,340,161 | 2,340 | |||
*,1 | SCYNEXIS Inc. | 1,169,372 | 2,339 | |||
*,1 | American Well Corp. Class A | 7,167,653 | 2,328 | |||
* | Aclaris Therapeutics Inc. | 2,115,428 | 2,327 | |||
* | Kodiak Sciences Inc. | 982,015 | 2,308 | |||
* | Adicet Bio Inc. | 1,892,101 | 2,289 | |||
*,1 | Cellectar Biosciences Inc. | 909,704 | 2,274 | |||
*,1 | Eton Pharmaceuticals Inc. | 681,717 | 2,243 | |||
*,1 | Seres Therapeutics Inc. | 3,035,516 | 2,197 | |||
* | Biodesix Inc. | 1,436,112 | 2,197 | |||
*,1 | enVVeno Medical Corp. | 418,536 | 2,197 | |||
* | Compass Therapeutics Inc. | 2,191,365 | 2,191 | |||
* | DiaMedica Therapeutics Inc. | 715,571 | 2,111 | |||
*,1 | Corvus Pharmaceuticals Inc. | 1,156,008 | 2,104 | |||
*,1 | Akoya Biosciences Inc. | 882,321 | 2,065 | |||
* | Anixa Biosciences Inc. | 927,841 | 2,051 | |||
*,1 | Hyperfine Inc. Class A | 2,390,349 | 2,032 | |||
*,1 | Sanara Medtech Inc. | 71,854 | 2,028 | |||
*,1 | Marinus Pharmaceuticals Inc. | 1,730,190 | 2,024 | |||
*,1 | Rani Therapeutics Holdings Inc. Class A | 518,702 | 1,971 | |||
*,1 | Gritstone bio Inc. | 3,178,040 | 1,964 | |||
* | Pro-Dex Inc. | 98,013 | 1,925 | |||
* | Eledon Pharmaceuticals Inc. | 722,398 | 1,907 | |||
*,1 | Eagle Pharmaceuticals Inc. | 336,766 | 1,886 | |||
*,1 | CEL - SCI Corp. | 1,613,825 | 1,872 | |||
*,1 | Immunic Inc. | 1,669,634 | 1,853 | |||
* | Tectonic Therapeutic Inc. | 110,889 | 1,826 | |||
*,1 | Acrivon Therapeutics Inc. | 309,500 | 1,795 | |||
*,1 | BioAtla Inc. | 1,269,840 | 1,740 | |||
* | Werewolf Therapeutics Inc. | 702,540 | 1,714 | |||
* | Precision BioSciences Inc. | 174,932 | 1,702 | |||
* | Ikena Oncology Inc. | 1,031,034 | 1,701 | |||
*,1 | Cue Biopharma Inc. | 1,347,078 | 1,670 | |||
*,1 | Sangamo Therapeutics Inc. | 4,569,563 | 1,637 | |||
* | Kronos Bio Inc. | 1,318,872 | 1,635 | |||
* | Mural Oncology plc | 520,278 | 1,634 | |||
* | Elutia Inc. Class A | 327,330 | 1,624 | |||
*,1 | Omega Therapeutics Inc. | 779,100 | 1,613 | |||
*,1 | AN2 Therapeutics Inc. | 749,421 | 1,611 |
Shares | Market Value• ($000) | |||||
*,1 | Carisma Therapeutics Inc. | 1,054,783 | 1,603 | |||
*,1 | Century Therapeutics Inc. | 628,424 | 1,602 | |||
* | Co-Diagnostics Inc. | 1,279,125 | 1,599 | |||
* | Assembly Biosciences Inc. | 114,782 | 1,575 | |||
* | Sonida Senior Living Inc. | 55,834 | 1,535 | |||
* | Neuronetics Inc. | 849,497 | 1,529 | |||
*,1 | Cognition Therapeutics Inc. | 914,905 | 1,519 | |||
* | Spero Therapeutics Inc. | 1,166,116 | 1,516 | |||
*,1 | Outlook Therapeutics Inc. | 204,511 | 1,509 | |||
*,1 | Cidara Therapeutics Inc. | 121,550 | 1,451 | |||
*,1 | SELLAS Life Sciences Group Inc. | 1,211,353 | 1,442 | |||
*,1 | Annovis Bio Inc. | 249,507 | 1,437 | |||
*,1 | Leap Therapeutics Inc. | 725,169 | 1,421 | |||
* | Personalis Inc. | 1,213,997 | 1,420 | |||
*,1 | Vor BioPharma Inc. | 1,385,613 | 1,386 | |||
* | Modular Medical Inc. | 876,658 | 1,385 | |||
* | Ovid therapeutics Inc. | 1,792,791 | 1,379 | |||
*,1 | TriSalus Life Sciences Inc. | 248,877 | 1,374 | |||
*,1 | AirSculpt Technologies Inc. | 341,234 | 1,365 | |||
* | Apyx Medical Corp. | 1,015,930 | 1,361 | |||
*,1 | Q32 Bio Inc. | 75,262 | 1,351 | |||
* | Forian Inc. | 507,760 | 1,346 | |||
*,1 | MAIA Biotechnology Inc. | 393,248 | 1,345 | |||
*,1 | Rockwell Medical Inc. | 759,624 | 1,337 | |||
*,1 | Turnstone Biologics Corp. | 495,069 | 1,297 | |||
* | Enzo Biochem Inc. | 1,187,908 | 1,295 | |||
*,1 | HeartBeam Inc. | 503,420 | 1,294 | |||
*,1 | Allovir Inc. | 1,771,721 | 1,281 | |||
* | Curis Inc. | 185,441 | 1,280 | |||
* | LENSAR Inc. | 282,930 | 1,273 | |||
*,1 | Genelux Corp. | 629,169 | 1,227 | |||
* | Champions Oncology Inc. | 235,738 | 1,219 | |||
*,1 | Tempus AI Inc. Class A | 34,513 | 1,208 | |||
*,1 | Inotiv Inc. | 721,966 | 1,198 | |||
*,1 | ARCA biopharma Inc. | 312,166 | 1,196 | |||
*,1 | Lantern Pharma Inc. | 256,113 | 1,196 | |||
* | Passage Bio Inc. | 1,496,581 | 1,189 | |||
* | Eliem Therapeutics Inc. | 165,348 | 1,176 | |||
*,1 | Lipocine Inc. | 141,076 | 1,162 | |||
*,1 | Nuvectis Pharma Inc. | 181,040 | 1,146 | |||
*,1 | Kezar Life Sciences Inc. | 1,877,555 | 1,127 | |||
* | Journey Medical Corp. | 196,523 | 1,108 | |||
*,1 | Celularity Inc. Class A | 337,262 | 1,056 | |||
*,1 | Ocuphire Pharma Inc. | 675,815 | 1,034 | |||
* | iCAD Inc. | 771,983 | 1,004 | |||
* | Milestone Scientific Inc. | 1,447,898 | 989 | |||
*,1 | Rapport Therapeutics Inc. | 42,093 | 979 | |||
* | NextCure Inc. | 613,827 | 976 | |||
*,1 | Matinas BioPharma Holdings Inc. | 6,020,598 | 953 | |||
* | Alumis Inc. | 71,280 | 948 | |||
*,1 | Durect Corp. | 733,628 | 946 | |||
*,1 | Immuneering Corp. Class A | 736,188 | 942 | |||
*,1 | Bionano Genomics Inc. | 1,364,438 | 925 | |||
*,1 | Atara Biotherapeutics Inc. | 108,409 | 921 | |||
*,1 | CytoSorbents Corp. | 1,302,216 | 915 | |||
* | Xtant Medical Holdings Inc. | 1,431,435 | 902 | |||
* | Reneo Pharmaceuticals Inc. | 596,113 | 900 | |||
*,1 | Cutera Inc. | 594,164 | 897 | |||
*,1 | Reviva Pharmaceuticals Holdings Inc. | 700,442 | 897 | |||
*,1 | CalciMedica Inc. | 226,183 | 896 | |||
* | Instil Bio Inc. | 85,903 | 884 | |||
* | Dyadic International Inc. | 596,383 | 883 | |||
*,1 | Aerovate Therapeutics Inc. | 531,540 | 882 | |||
*,1 | Eyenovia Inc. | 1,425,221 | 847 | |||
*,1 | Palatin Technologies Inc. | 426,848 | 832 | |||
*,1 | Fractyl Health Inc. | 194,797 | 832 | |||
* | Hookipa Pharma Inc. | 1,396,133 | 826 | |||
*,1 | Oncternal Therapeutics Inc. | 107,989 | 821 | |||
*,1 | Bioxcel Therapeutics Inc. | 640,245 | 820 | |||
*,1 | IRIDEX Corp. | 376,944 | 814 |
Shares | Market Value• ($000) | |||||
*,1 | Marker Therapeutics Inc. | 148,673 | 807 | |||
*,1 | IN8bio Inc. | 952,487 | 806 | |||
* | Intensity Therapeutics Inc. | 164,388 | 806 | |||
*,1 | Dare Bioscience Inc. | 2,375,133 | 798 | |||
*,1 | Immix Biopharma Inc. | 399,290 | 791 | |||
*,1 | Acurx Pharmaceuticals Inc. | 346,150 | 779 | |||
* | ImmuCell Corp. | 158,957 | 771 | |||
*,1 | Rallybio Corp. | 568,653 | 762 | |||
*,1 | Elicio Therapeutics Inc. | 184,939 | 760 | |||
* | VYNE Therapeutics Inc. | 373,319 | 735 | |||
* | Aadi Bioscience Inc. | 499,926 | 730 | |||
*,1 | SAB Biotherapeutics Inc. | 232,567 | 721 | |||
*,1 | Vivani Medical Inc. | 569,632 | 718 | |||
*,1 | Cryo-Cell International Inc. | 93,542 | 712 | |||
* | Xilio Therapeutics Inc. | 739,563 | 701 | |||
*,1 | Clene Inc. | 1,911,118 | 681 | |||
*,1 | Fortress Biotech Inc. | 388,544 | 664 | |||
* | Augmedix Inc. | 748,321 | 659 | |||
* | ElectroCore Inc. | 102,275 | 658 | |||
*,1 | P3 Health Partners Inc. | 1,448,893 | 652 | |||
*,1 | Bolt Biotherapeutics Inc. | 861,868 | 646 | |||
* | Quince Therapeutics Inc. | 847,959 | 636 | |||
*,1 | NeueHealth Inc. | 114,269 | 622 | |||
*,1 | NanoViricides Inc. | 352,189 | 606 | |||
* | Exagen Inc. | 326,266 | 594 | |||
*,1 | Protara Therapeutics Inc. | 284,301 | 591 | |||
* | Oncology Institute Inc. | 1,273,384 | 586 | |||
MEI Pharma Inc. | 201,106 | 585 | ||||
* | Minerva Neurosciences Inc. | 175,805 | 561 | |||
*,1 | Vicarious Surgical Inc. Class A | 95,077 | 558 | |||
*,1 | GlycoMimetics Inc. | 1,925,297 | 542 | |||
* | UNITY Biotechnology Inc. | 395,985 | 535 | |||
*,1 | CareCloud Inc. | 266,292 | 511 | |||
* | AIM ImmunoTech Inc. | 1,311,599 | 489 | |||
*,1 | Indaptus Therapeutics Inc. | 229,197 | 486 | |||
*,1 | Beyond Air Inc. | 879,430 | 473 | |||
*,1 | NRX Pharmaceuticals Inc. | 193,423 | 472 | |||
*,1 | Surrozen Inc. | 42,278 | 463 | |||
*,1 | Aligos Therapeutics Inc. | 1,319,878 | 462 | |||
* | Retractable Technologies Inc. | 421,212 | 455 | |||
*,1 | Oncocyte Corp. | 153,986 | 454 | |||
* | Cocrystal Pharma Inc. | 191,359 | 446 | |||
*,1 | Viracta Therapeutics Inc. | 813,922 | 443 | |||
* | Lisata Therapeutics Inc. | 125,704 | 436 | |||
* | AEON Biopharma Inc. | 414,900 | 436 | |||
* | Lumos Pharma Inc. | 187,322 | 435 | |||
* | Cumberland Pharmaceuticals Inc. | 280,820 | 430 | |||
*,1 | Ekso Bionics Holdings Inc. | 400,887 | 423 | |||
* | Alpha Teknova Inc. | 303,047 | 415 | |||
*,1 | TherapeuticsMD Inc. | 249,657 | 402 | |||
* | Psychemedics Corp. | 165,415 | 400 | |||
* | Equillium Inc. | 570,835 | 396 | |||
* | Rapid Micro Biosystems Inc. Class A | 594,568 | 392 | |||
*,1 | Unicycive Therapeutics Inc. | 765,000 | 383 | |||
*,1 | Cyclo Therapeutics Inc. | 285,490 | 363 | |||
*,1 | BrainStorm Cell Therapeutics Inc. | 1,061,018 | 359 | |||
* | Nutriband Inc. | 66,102 | 357 | |||
*,1 | Microbot Medical Inc. | 348,549 | 356 | |||
* | Aprea Therapeutics Inc. | 86,280 | 351 | |||
*,1 | Cara Therapeutics Inc. | 1,354,313 | 349 | |||
*,1 | Monogram Technologies Inc. | 158,831 | 341 | |||
* | Orgenesis Inc. | 566,688 | 340 | |||
*,1 | Movano Inc. | 1,233,783 | 339 | |||
* | Singular Genomics Systems Inc. | 39,338 | 332 | |||
*,1 | Spruce Biosciences Inc. | 638,558 | 331 | |||
* | Anebulo Pharmaceuticals Inc. | 121,000 | 330 | |||
*,1 | Bright Green Corp. | 1,286,273 | 326 | |||
* | American Shared Hospital Services | 100,218 | 320 | |||
*,1 | Sensei Biotherapeutics Inc. | 485,960 | 301 | |||
*,1 | Lucid Diagnostics Inc. | 366,924 | 301 |
Shares | Market Value• ($000) | |||||
*,1 | Fibrobiologics Inc. | 59,807 | 298 | |||
*,1 | Ocean Biomedical Inc. | 243,673 | 297 | |||
*,1 | vTv Therapeutics Inc. Class A | 16,666 | 294 | |||
*,1 | Aspira Women's Health Inc. | 194,906 | 290 | |||
*,1 | bioAffinity Technologies Inc. | 132,227 | 286 | |||
*,1 | Alaunos Therapeutics Inc. | 403,930 | 282 | |||
* | Vincerx Pharma Inc. | 341,070 | 276 | |||
* | Lyra Therapeutics Inc. | 992,543 | 275 | |||
* | Armata Pharmaceuticals Inc. | 95,768 | 263 | |||
*,1 | Forte Biosciences Inc. | 487,429 | 262 | |||
*,1 | Accelerate Diagnostics Inc. | 223,456 | 261 | |||
* | Nephros Inc. | 121,686 | 257 | |||
*,1 | Biora Therapeutics Inc. | 372,034 | 246 | |||
* | PharmaCyte Biotech Inc. | 117,468 | 230 | |||
* | ATI Physical Therapy Inc. | 49,713 | 222 | |||
* | Synlogic Inc. | 139,449 | 209 | |||
* | Dominari Holdings Inc. | 111,013 | 208 | |||
* | Precision Optics Corp. Inc. | 35,050 | 207 | |||
* | Moleculin Biotech Inc. | 53,483 | 187 | |||
* | Organovo Holdings Inc. | 238,972 | 182 | |||
* | Strata Skin Sciences Inc. | 59,324 | 182 | |||
* | PAVmed Inc. | 213,896 | 174 | |||
*,1 | BioVie Inc. | 415,089 | 166 | |||
*,1 | Bullfrog AI Holdings Inc. | 95,347 | 165 | |||
* | KALA BIO Inc. | 23,158 | 164 | |||
*,1 | Traws Pharma Inc. | 365,661 | 163 | |||
* | Talis Biomedical Corp. | 18,267 | 161 | |||
* | Metagenomi Inc. | 36,208 | 148 | |||
*,1 | Talphera Inc. | 159,612 | 142 | |||
*,1 | MiNK Therapeutics Inc. | 148,229 | 141 | |||
* | Boundless Bio Inc. | 36,236 | 140 | |||
*,1 | Novo Integrated Sciences Inc. | 180,559 | 135 | |||
* | Serina Therapeutics Inc. (XASE) | 12,117 | 116 | |||
* | Know Labs Inc. | 231,486 | 95 | |||
*,1 | NeuroBo Pharmaceuticals Inc. | 19,328 | 94 | |||
*,1 | SeaStar Medical Holding Corp. | 11,979 | 91 | |||
*,1 | Senti Biosciences Inc. Class A | 320,153 | 88 | |||
* | Hepion Pharmaceuticals Inc. | 77,398 | 84 | |||
* | Precipio Inc. | 10,456 | 53 | |||
* | Star Equity Holdings Inc. | 10,736 | 49 | |||
*,2 | Impact BioMedical Inc. (Registered) | 5,171,052 | 33 | |||
*,1 | Neuraxis Inc. | 9,600 | 27 | |||
* | Biomerica Inc. | 45,646 | 20 | |||
* | Carmell Corp. | 11,222 | 15 | |||
*,1 | Tonix Pharmaceuticals Holding Corp. | 18,095 | 13 | |||
* | Molecular Templates Inc. | 9,707 | 11 | |||
* | Nexgel Inc. | 3,100 | 7 | |||
*,1,2 | Aravive Inc. | 368,501 | — | |||
*,1,2 | Synergy Pharmaceuticals LLC | 5,148,145 | — | |||
*,2 | OmniAb Inc. 12.5 Earnout | 186,267 | — | |||
*,2 | OmniAb Inc. 15 Earnout | 186,267 | — | |||
188,225,082 | ||||||
Industrials (12.1%) | ||||||
Visa Inc. Class A | 49,280,943 | 12,934,769 | ||||
Mastercard Inc. Class A | 26,208,550 | 11,562,164 | ||||
Accenture plc Class A | 19,860,846 | 6,025,979 | ||||
General Electric Co. | 32,851,744 | 5,222,442 | ||||
Caterpillar Inc. | 15,449,635 | 5,146,273 | ||||
Honeywell International Inc. | 20,575,321 | 4,393,654 | ||||
Union Pacific Corp. | 19,276,302 | 4,361,456 | ||||
RTX Corp. | 41,994,054 | 4,215,783 | ||||
Eaton Corp. plc | 12,644,920 | 3,964,815 | ||||
American Express Co. | 15,906,636 | 3,683,182 | ||||
Lockheed Martin Corp. | 7,568,914 | 3,535,440 | ||||
* | Boeing Co. | 19,406,756 | 3,532,224 | |||
United Parcel Service Inc. Class B | 23,052,798 | 3,154,775 | ||||
Deere & Co. | 8,271,928 | 3,090,640 | ||||
Automatic Data Processing Inc. | 12,918,551 | 3,083,529 | ||||
* | Fiserv Inc. | 18,477,012 | 2,753,814 |
Shares | Market Value• ($000) | |||||
Trane Technologies plc | 7,147,664 | 2,351,081 | ||||
General Dynamics Corp. | 7,802,647 | 2,263,860 | ||||
Sherwin-Williams Co. | 7,208,760 | 2,151,310 | ||||
TransDigm Group Inc. | 1,678,871 | 2,144,942 | ||||
Illinois Tool Works Inc. | 8,938,139 | 2,117,981 | ||||
FedEx Corp. | 6,994,961 | 2,097,369 | ||||
CSX Corp. | 61,822,098 | 2,067,949 | ||||
Parker-Hannifin Corp. | 4,063,514 | 2,055,366 | ||||
Emerson Electric Co. | 18,053,816 | 1,988,808 | ||||
* | PayPal Holdings Inc. | 33,072,008 | 1,919,169 | |||
Cintas Corp. | 2,721,237 | 1,905,573 | ||||
Northrop Grumman Corp. | 4,207,764 | 1,834,375 | ||||
3M Co. | 17,506,860 | 1,789,026 | ||||
Carrier Global Corp. | 27,066,288 | 1,707,341 | ||||
PACCAR Inc. | 16,580,119 | 1,706,757 | ||||
Capital One Financial Corp. | 11,455,022 | 1,585,948 | ||||
Norfolk Southern Corp. | 7,134,591 | 1,531,725 | ||||
* | GE Vernova Inc. | 8,666,523 | 1,486,395 | |||
Johnson Controls International plc | 21,300,788 | 1,415,863 | ||||
United Rentals Inc. | 2,104,596 | 1,361,105 | ||||
L3Harris Technologies Inc. | 6,002,338 | 1,348,005 | ||||
Fidelity National Information Services Inc. | 17,589,338 | 1,325,533 | ||||
WW Grainger Inc. | 1,392,923 | 1,256,751 | ||||
Ferguson plc | 6,370,762 | 1,233,698 | ||||
Otis Worldwide Corp. | 12,795,690 | 1,231,713 | ||||
AMETEK Inc. | 7,301,046 | 1,217,157 | ||||
Paychex Inc. | 10,227,803 | 1,212,608 | ||||
Verisk Analytics Inc. Class A | 4,496,266 | 1,211,969 | ||||
Cummins Inc. | 4,328,384 | 1,198,659 | ||||
Dow Inc. | 22,211,725 | 1,178,332 | ||||
Quanta Services Inc. | 4,629,743 | 1,176,371 | ||||
Ingersoll Rand Inc. | 12,729,743 | 1,156,370 | ||||
* | Block Inc. Class A | 17,608,698 | 1,135,585 | |||
* | Fair Isaac Corp. | 741,042 | 1,103,160 | |||
Old Dominion Freight Line Inc. | 6,175,838 | 1,090,653 | ||||
Martin Marietta Materials Inc. | 1,949,248 | 1,056,103 | ||||
Xylem Inc. | 7,665,486 | 1,039,670 | ||||
Vulcan Materials Co. | 4,172,730 | 1,037,675 | ||||
Howmet Aerospace Inc. | 12,891,388 | 1,000,758 | ||||
Rockwell Automation Inc. | 3,607,340 | 993,029 | ||||
DuPont de Nemours Inc. | 11,872,848 | 955,646 | ||||
Equifax Inc. | 3,903,458 | 946,432 | ||||
* | Mettler-Toledo International Inc. | 675,980 | 944,743 | |||
PPG Industries Inc. | 7,437,674 | 936,329 | ||||
Westinghouse Air Brake Technologies Corp. | 5,558,750 | 878,560 | ||||
Fortive Corp. | 11,130,541 | 824,773 | ||||
Dover Corp. | 4,334,678 | 782,193 | ||||
* | Keysight Technologies Inc. | 5,532,001 | 756,501 | |||
Veralto Corp. | 7,389,867 | 705,511 | ||||
* | Axon Enterprise Inc. | 2,267,062 | 667,060 | |||
Booz Allen Hamilton Holding Corp. Class A | 4,091,457 | 629,675 | ||||
Hubbell Inc. Class B | 1,693,061 | 618,780 | ||||
Carlisle Cos. Inc. | 1,506,071 | 610,275 | ||||
Global Payments Inc. | 6,255,930 | 604,948 | ||||
Synchrony Financial | 12,678,447 | 598,296 | ||||
Ball Corp. | 9,813,635 | 589,014 | ||||
* | Teledyne Technologies Inc. | 1,503,939 | 583,498 | |||
HEICO Corp. Class A | 3,172,407 | 563,166 | ||||
* | Corpay Inc. | 2,113,024 | 562,931 | |||
Expeditors International of Washington Inc. | 4,455,476 | 555,999 | ||||
Jacobs Solutions Inc. | 3,961,317 | 553,436 | ||||
* | Waters Corp. | 1,870,813 | 542,760 | |||
EMCOR Group Inc. | 1,484,769 | 542,060 | ||||
Lennox International Inc. | 1,009,864 | 540,257 | ||||
* | Builders FirstSource Inc. | 3,850,341 | 532,926 | |||
Packaging Corp. of America | 2,829,657 | 516,582 | ||||
Textron Inc. | 6,007,281 | 515,785 | ||||
Watsco Inc. | 1,098,948 | 509,077 | ||||
* | Zebra Technologies Corp. Class A | 1,619,168 | 500,210 | |||
IDEX Corp. | 2,387,169 | 480,298 |
Shares | Market Value• ($000) | |||||
Owens Corning | 2,744,009 | 476,689 | ||||
Masco Corp. | 6,939,439 | 462,652 | ||||
TransUnion | 6,141,311 | 455,440 | ||||
RPM International Inc. | 4,068,147 | 438,058 | ||||
Snap-on Inc. | 1,666,141 | 435,513 | ||||
* | Trimble Inc. | 7,737,749 | 432,695 | |||
Graco Inc. | 5,360,274 | 424,963 | ||||
JB Hunt Transport Services Inc. | 2,611,308 | 417,809 | ||||
Westrock Co. | 8,209,725 | 412,621 | ||||
nVent Electric plc | 5,284,484 | 404,844 | ||||
Pentair plc | 5,223,071 | 400,453 | ||||
* | Saia Inc. | 838,001 | 397,456 | |||
Advanced Drainage Systems Inc. | 2,448,328 | 392,687 | ||||
Stanley Black & Decker Inc. | 4,886,473 | 390,380 | ||||
* | TopBuild Corp. | 1,001,366 | 385,796 | |||
Jack Henry & Associates Inc. | 2,299,999 | 381,846 | ||||
AECOM | 4,288,376 | 377,977 | ||||
Nordson Corp. | 1,620,958 | 375,965 | ||||
* | XPO Inc. | 3,478,135 | 369,204 | |||
Tetra Tech Inc. | 1,688,083 | 345,179 | ||||
Comfort Systems USA Inc. | 1,126,665 | 342,641 | ||||
Lincoln Electric Holdings Inc. | 1,807,864 | 341,035 | ||||
Woodward Inc. | 1,930,355 | 336,615 | ||||
ITT Inc. | 2,586,092 | 334,071 | ||||
Curtiss-Wright Corp. | 1,207,629 | 327,243 | ||||
Allegion plc | 2,753,326 | 325,306 | ||||
A O Smith Corp. | 3,820,392 | 312,432 | ||||
FTAI Aviation Ltd. | 3,003,921 | 310,095 | ||||
Toro Co. | 3,303,689 | 308,928 | ||||
CH Robinson Worldwide Inc. | 3,497,761 | 308,223 | ||||
Huntington Ingalls Industries Inc. | 1,247,530 | 307,304 | ||||
* | Core & Main Inc. Class A | 6,068,425 | 296,989 | |||
* | API Group Corp. | 7,828,505 | 294,587 | |||
AptarGroup Inc. | 2,081,895 | 293,152 | ||||
Crown Holdings Inc. | 3,851,203 | 286,491 | ||||
Regal Rexnord Corp. | 2,095,481 | 283,351 | ||||
MKS Instruments Inc. | 2,122,109 | 277,105 | ||||
BWX Technologies Inc. | 2,887,741 | 274,335 | ||||
Donaldson Co. Inc. | 3,777,194 | 270,296 | ||||
WESCO International Inc. | 1,615,716 | 256,123 | ||||
Fortune Brands Innovations Inc. | 3,925,140 | 254,899 | ||||
Graphic Packaging Holding Co. | 9,680,814 | 253,734 | ||||
* | Trex Co. Inc. | 3,413,782 | 253,030 | |||
Cognex Corp. | 5,399,087 | 252,461 | ||||
* | Generac Holdings Inc. | 1,900,021 | 251,221 | |||
Knight-Swift Transportation Holdings Inc. Class A | 4,872,776 | 243,249 | ||||
* | FTI Consulting Inc. | 1,128,428 | 243,210 | |||
* | Axalta Coating Systems Ltd. | 6,956,492 | 237,703 | |||
Acuity Brands Inc. | 978,505 | 236,250 | ||||
Applied Industrial Technologies Inc. | 1,217,551 | 236,205 | ||||
* | Fluor Corp. | 5,387,698 | 234,634 | |||
* | WEX Inc. | 1,317,920 | 233,456 | |||
Eagle Materials Inc. | 1,065,779 | 231,764 | ||||
Simpson Manufacturing Co. Inc. | 1,345,747 | 226,799 | ||||
Oshkosh Corp. | 2,061,884 | 223,096 | ||||
MSA Safety Inc. | 1,177,953 | 221,090 | ||||
Crane Co. | 1,524,686 | 221,049 | ||||
* | Kirby Corp. | 1,838,302 | 220,100 | |||
* | ATI Inc. | 3,960,766 | 219,625 | |||
* | MasTec Inc. | 2,030,942 | 217,291 | |||
* | WillScot Mobile Mini Holdings Corp. | 5,730,636 | 215,701 | |||
* | Affirm Holdings Inc. Class A | 7,118,318 | 215,044 | |||
Landstar System Inc. | 1,132,838 | 208,986 | ||||
Allison Transmission Holdings Inc. | 2,744,389 | 208,299 | ||||
* | Middleby Corp. | 1,697,468 | 208,127 | |||
Berry Global Group Inc. | 3,409,008 | 200,620 | ||||
Robert Half Inc. | 3,123,256 | 199,826 | ||||
* | SPX Technologies Inc. | 1,401,588 | 199,222 | |||
Littelfuse Inc. | 778,451 | 198,964 | ||||
Flowserve Corp. | 4,124,859 | 198,406 |
Shares | Market Value• ($000) | |||||
AGCO Corp. | 2,016,554 | 197,380 | ||||
* | Chart Industries Inc. | 1,354,086 | 195,449 | |||
* | AZEK Co. Inc. Class A | 4,589,885 | 193,372 | |||
* | Mohawk Industries Inc. | 1,689,130 | 191,868 | |||
* | GXO Logistics Inc. | 3,791,856 | 191,489 | |||
Vontier Corp. | 4,882,520 | 186,512 | ||||
Genpact Ltd. | 5,648,403 | 181,822 | ||||
* | Beacon Roofing Supply Inc. | 1,992,545 | 180,325 | |||
AAON Inc. | 2,064,536 | 180,110 | ||||
Sensata Technologies Holding plc | 4,774,245 | 178,509 | ||||
* | Paylocity Holding Corp. | 1,329,368 | 175,277 | |||
Valmont Industries Inc. | 636,881 | 174,792 | ||||
Badger Meter Inc. | 924,513 | 172,283 | ||||
Esab Corp. | 1,803,558 | 170,310 | ||||
Louisiana-Pacific Corp. | 2,052,693 | 168,998 | ||||
Maximus Inc. | 1,930,160 | 165,415 | ||||
* | BILL Holdings Inc. | 3,136,330 | 165,034 | |||
* | AeroVironment Inc. | 896,255 | 163,262 | |||
Ryder System Inc. | 1,313,554 | 162,723 | ||||
Federal Signal Corp. | 1,943,327 | 162,598 | ||||
MDU Resources Group Inc. | 6,405,942 | 160,789 | ||||
Watts Water Technologies Inc. Class A | 865,300 | 158,670 | ||||
Air Lease Corp. Class A | 3,329,106 | 158,232 | ||||
Sealed Air Corp. | 4,544,377 | 158,099 | ||||
Sonoco Products Co. | 3,098,376 | 157,150 | ||||
Atkore Inc. | 1,162,474 | 156,853 | ||||
Armstrong World Industries Inc. | 1,379,569 | 156,222 | ||||
* | Modine Manufacturing Co. | 1,559,020 | 156,198 | |||
Installed Building Products Inc. | 755,572 | 155,406 | ||||
Brunswick Corp. | 2,105,696 | 153,232 | ||||
HEICO Corp. | 680,151 | 152,089 | ||||
Moog Inc. Class A | 909,050 | 152,084 | ||||
Exponent Inc. | 1,591,186 | 151,354 | ||||
* | ExlService Holdings Inc. | 4,805,957 | 150,715 | |||
* | Dycom Industries Inc. | 883,643 | 149,124 | |||
GATX Corp. | 1,121,356 | 148,423 | ||||
*,1 | Shift4 Payments Inc. Class A | 1,974,597 | 144,837 | |||
* | Itron Inc. | 1,439,117 | 142,415 | |||
* | Summit Materials Inc. Class A | 3,884,949 | 142,228 | |||
* | Euronet Worldwide Inc. | 1,369,075 | 141,699 | |||
Brink's Co. | 1,343,989 | 137,625 | ||||
Encore Wire Corp. | 473,555 | 137,250 | ||||
* | Verra Mobility Corp. Class A | 4,947,492 | 134,572 | |||
EnerSys | 1,286,334 | 133,161 | ||||
Matson Inc. | 1,016,162 | 133,087 | ||||
HB Fuller Co. | 1,705,661 | 131,268 | ||||
CSW Industrials Inc. | 494,120 | 131,095 | ||||
Western Union Co. | 10,618,352 | 129,756 | ||||
* | ACI Worldwide Inc. | 3,270,934 | 129,496 | |||
Zurn Elkay Water Solutions Corp. | 4,368,507 | 128,434 | ||||
* | Knife River Corp. | 1,783,942 | 125,126 | |||
* | ASGN Inc. | 1,391,296 | 122,671 | |||
Belden Inc. | 1,292,808 | 121,265 | ||||
* | Spirit AeroSystems Holdings Inc. Class A | 3,680,543 | 120,979 | |||
Franklin Electric Co. Inc. | 1,251,528 | 120,547 | ||||
Otter Tail Corp. | 1,313,326 | 115,034 | ||||
MSC Industrial Direct Co. Inc. Class A | 1,430,623 | 113,463 | ||||
Herc Holdings Inc. | 847,674 | 112,987 | ||||
* | CBIZ Inc. | 1,501,460 | 111,258 | |||
Terex Corp. | 2,024,895 | 111,045 | ||||
Korn Ferry | 1,634,194 | 109,720 | ||||
* | Sterling Infrastructure Inc. | 920,025 | 108,876 | |||
Kadant Inc. | 369,572 | 108,573 | ||||
Silgan Holdings Inc. | 2,513,144 | 106,381 | ||||
* | Gates Industrial Corp. plc | 6,600,360 | 104,352 | |||
ManpowerGroup Inc. | 1,478,285 | 103,184 | ||||
Insperity Inc. | 1,118,094 | 101,981 | ||||
* | GMS Inc. | 1,262,961 | 101,807 | |||
ABM Industries Inc. | 1,972,889 | 99,769 | ||||
* | Alight Inc. Class A | 13,222,400 | 97,581 |
Shares | Market Value• ($000) | |||||
Enpro Inc. | 660,335 | 96,125 | ||||
TriNet Group Inc. | 959,213 | 95,921 | ||||
* | RXO Inc. | 3,659,709 | 95,701 | |||
John Bean Technologies Corp. | 991,038 | 94,119 | ||||
Crane NXT Co. | 1,519,765 | 93,344 | ||||
ADT Inc. | 12,219,768 | 92,870 | ||||
* | Kratos Defense & Security Solutions Inc. | 4,590,831 | 91,863 | |||
Hillenbrand Inc. | 2,252,520 | 90,146 | ||||
Brady Corp. Class A | 1,360,945 | 89,850 | ||||
Mueller Water Products Inc. Class A | 4,940,179 | 88,528 | ||||
ICF International Inc. | 594,193 | 88,214 | ||||
Griffon Corp. | 1,377,861 | 87,990 | ||||
International Seaways Inc. | 1,460,866 | 86,381 | ||||
ESCO Technologies Inc. | 819,148 | 86,043 | ||||
Granite Construction Inc. | 1,385,574 | 85,864 | ||||
* | Resideo Technologies Inc. | 4,380,303 | 85,679 | |||
Albany International Corp. Class A | 988,395 | 83,470 | ||||
McGrath RentCorp | 775,563 | 82,636 | ||||
UniFirst Corp. | 479,095 | 82,179 | ||||
Hub Group Inc. Class A | 1,871,389 | 80,563 | ||||
Primoris Services Corp. | 1,593,456 | 79,498 | ||||
Trinity Industries Inc. | 2,619,110 | 78,364 | ||||
* | AAR Corp. | 1,062,508 | 77,244 | |||
ArcBest Corp. | 717,120 | 76,789 | ||||
* | Atmus Filtration Technologies Inc. | 2,624,355 | 75,529 | |||
* | Marqeta Inc. Class A | 13,621,647 | 74,647 | |||
*,1 | Bloom Energy Corp. Class A | 6,007,570 | 73,533 | |||
Patrick Industries Inc. | 669,436 | 72,667 | ||||
* | OSI Systems Inc. | 524,928 | 72,188 | |||
* | Construction Partners Inc. Class A | 1,307,399 | 72,182 | |||
EVERTEC Inc. | 2,080,893 | 69,190 | ||||
* | MYR Group Inc. | 501,618 | 68,075 | |||
Bread Financial Holdings Inc. | 1,526,477 | 68,020 | ||||
* | Gibraltar Industries Inc. | 984,918 | 67,516 | |||
AZZ Inc. | 868,933 | 67,125 | ||||
*,1 | Aurora Innovation Inc. Class A | 24,088,255 | 66,724 | |||
Werner Enterprises Inc. | 1,849,969 | 66,284 | ||||
*,1 | Joby Aviation Inc. | 12,841,523 | 65,492 | |||
*,1 | Enovix Corp. | 4,205,714 | 65,020 | |||
Enerpac Tool Group Corp. Class A | 1,686,016 | 64,372 | ||||
* | Leonardo DRS Inc. | 2,473,996 | 63,112 | |||
* | Mirion Technologies Inc. Class A | 5,828,072 | 62,594 | |||
Barnes Group Inc. | 1,509,185 | 62,495 | ||||
* | AMN Healthcare Services Inc. | 1,204,524 | 61,708 | |||
Standex International Corp. | 382,201 | 61,592 | ||||
Tennant Co. | 623,675 | 61,395 | ||||
* | AvidXchange Holdings Inc. | 5,086,619 | 61,345 | |||
* | NCR Atleos Corp. | 2,258,959 | 61,037 | |||
* | Masterbrand Inc. | 4,082,152 | 59,926 | |||
* | Flywire Corp. | 3,633,003 | 59,545 | |||
Kennametal Inc. | 2,494,135 | 58,712 | ||||
* | Aspen Aerogels Inc. | 2,413,173 | 57,554 | |||
Napco Security Technologies Inc. | 1,095,759 | 56,925 | ||||
* | Remitly Global Inc. | 4,668,065 | 56,577 | |||
* | Janus International Group Inc. | 4,456,914 | 56,291 | |||
Alamo Group Inc. | 323,082 | 55,893 | ||||
* | Blue Bird Corp. | 1,019,311 | 54,890 | |||
* | Hillman Solutions Corp. | 6,098,163 | 53,969 | |||
* | O-I Glass Inc. | 4,800,005 | 53,424 | |||
* | Hayward Holdings Inc. | 4,336,405 | 53,338 | |||
* | Huron Consulting Group Inc. | 528,826 | 52,089 | |||
UL Solutions Inc. Class A | 1,229,333 | 51,866 | ||||
* | Donnelley Financial Solutions Inc. | 858,835 | 51,204 | |||
Vestis Corp. | 4,154,751 | 50,813 | ||||
*,1 | Rocket Lab USA Inc. | 10,479,007 | 50,299 | |||
Helios Technologies Inc. | 1,020,650 | 48,736 | ||||
Greif Inc. Class A | 838,502 | 48,189 | ||||
* | Payoneer Global Inc. | 8,673,865 | 48,053 | |||
Greenbrier Cos. Inc. | 964,603 | 47,796 | ||||
* | Cimpress plc | 502,425 | 44,017 |
Shares | Market Value• ($000) | |||||
* | CoreCivic Inc. | 3,381,457 | 43,891 | |||
H&E Equipment Services Inc. | 992,595 | 43,843 | ||||
* | Mercury Systems Inc. | 1,603,432 | 43,277 | |||
* | Montrose Environmental Group Inc. | 962,560 | 42,892 | |||
VSE Corp. | 485,058 | 42,821 | ||||
Apogee Enterprises Inc. | 680,702 | 42,772 | ||||
Lindsay Corp. | 347,699 | 42,725 | ||||
* | NV5 Global Inc. | 454,226 | 42,229 | |||
* | American Woodmark Corp. | 523,680 | 41,161 | |||
1 | Powell Industries Inc. | 283,024 | 40,586 | |||
* | JELD-WEN Holding Inc. | 2,884,063 | 38,848 | |||
Kforce Inc. | 622,707 | 38,689 | ||||
* | Legalzoom.com Inc. | 4,453,560 | 37,365 | |||
* | Triumph Group Inc. | 2,391,710 | 36,856 | |||
REV Group Inc. | 1,465,830 | 36,485 | ||||
CRA International Inc. | 211,056 | 36,348 | ||||
* | IES Holdings Inc. | 251,636 | 35,060 | |||
TriMas Corp. | 1,348,329 | 34,463 | ||||
Marten Transport Ltd. | 1,806,685 | 33,333 | ||||
* | Thermon Group Holdings Inc. | 1,028,883 | 31,648 | |||
Argan Inc. | 428,506 | 31,350 | ||||
* | Transcat Inc. | 260,450 | 31,171 | |||
Columbus McKinnon Corp. | 876,869 | 30,287 | ||||
Deluxe Corp. | 1,340,058 | 30,098 | ||||
Wabash National Corp. | 1,341,032 | 29,288 | ||||
Quanex Building Products Corp. | 1,050,503 | 29,046 | ||||
Barrett Business Services Inc. | 857,084 | 28,087 | ||||
Schneider National Inc. Class B | 1,162,120 | 28,077 | ||||
*,1 | Symbotic Inc. Class A | 785,428 | 27,616 | |||
* | Tutor Perini Corp. | 1,265,687 | 27,567 | |||
FTAI Infrastructure Inc. | 3,193,015 | 27,556 | ||||
Pitney Bowes Inc. | 5,282,319 | 26,834 | ||||
* | Air Transport Services Group Inc. | 1,931,929 | 26,796 | |||
* | Repay Holdings Corp. Class A | 2,454,458 | 25,919 | |||
First Advantage Corp. | 1,560,757 | 25,081 | ||||
* | Proto Labs Inc. | 810,910 | 25,049 | |||
Gorman-Rupp Co. | 675,897 | 24,812 | ||||
Bel Fuse Inc. Class B | 379,733 | 24,774 | ||||
* | Ducommun Inc. | 422,398 | 24,524 | |||
*,1 | PureCycle Technologies Inc. | 4,127,199 | 24,433 | |||
* | CECO Environmental Corp. | 844,380 | 24,360 | |||
* | BlueLinx Holdings Inc. | 258,516 | 24,065 | |||
* | BrightView Holdings Inc. | 1,778,482 | 23,654 | |||
* | Vicor Corp. | 699,365 | 23,191 | |||
Cadre Holdings Inc. | 687,939 | 23,087 | ||||
*,1 | Loar Holdings Inc. | 428,126 | 22,866 | |||
Perella Weinberg Partners Class A | 1,405,691 | 22,843 | ||||
* | Energy Recovery Inc. | 1,710,399 | 22,731 | |||
United States Lime & Minerals Inc. | 61,740 | 22,485 | ||||
Astec Industries Inc. | 743,210 | 22,044 | ||||
* | International Money Express Inc. | 1,048,961 | 21,860 | |||
* | DXP Enterprises Inc. | 449,748 | 20,616 | |||
* | V2X Inc. | 427,852 | 20,520 | |||
Hyster-Yale Inc. | 290,992 | 20,291 | ||||
*,1 | Archer Aviation Inc. Class A | 5,649,318 | 19,886 | |||
Kelly Services Inc. Class A | 923,231 | 19,766 | ||||
Heidrick & Struggles International Inc. | 581,447 | 18,362 | ||||
* | Conduent Inc. | 5,561,668 | 18,131 | |||
Heartland Express Inc. | 1,447,760 | 17,851 | ||||
Miller Industries Inc. | 314,852 | 17,323 | ||||
Ennis Inc. | 791,000 | 17,315 | ||||
* | Sterling Check Corp. | 1,169,921 | 17,315 | |||
Insteel Industries Inc. | 543,672 | 16,832 | ||||
Cass Information Systems Inc. | 408,763 | 16,379 | ||||
* | Limbach Holdings Inc. | 286,069 | 16,286 | |||
* | Astronics Corp. | 810,023 | 16,225 | |||
* | Great Lakes Dredge & Dock Corp. | 1,846,491 | 16,212 | |||
Douglas Dynamics Inc. | 657,343 | 15,382 | ||||
* | I3 Verticals Inc. Class A | 695,229 | 15,351 | |||
* | Cross Country Healthcare Inc. | 1,089,478 | 15,078 |
Shares | Market Value• ($000) | |||||
1 | Forward Air Corp. | 775,781 | 14,771 | |||
Myers Industries Inc. | 1,098,991 | 14,705 | ||||
Overseas Shipholding Group Inc. Class A | 1,692,372 | 14,351 | ||||
Mesa Laboratories Inc. | 159,376 | 13,829 | ||||
National Presto Industries Inc. | 182,338 | 13,699 | ||||
* | Green Dot Corp. Class A | 1,447,285 | 13,677 | |||
* | Franklin Covey Co. | 356,254 | 13,538 | |||
* | Bowman Consulting Group Ltd. | 416,267 | 13,233 | |||
* | ZipRecruiter Inc. Class A | 1,439,414 | 13,084 | |||
* | Cantaloupe Inc. | 1,976,004 | 13,042 | |||
* | Moneylion Inc. | 174,403 | 12,826 | |||
LSI Industries Inc. | 870,659 | 12,598 | ||||
* | Manitowoc Co. Inc. | 1,085,339 | 12,514 | |||
*,1 | Nikola Corp. | 1,517,861 | 12,431 | |||
Luxfer Holdings plc | 1,056,300 | 12,243 | ||||
Pactiv Evergreen Inc. | 1,070,116 | 12,114 | ||||
Resources Connection Inc. | 1,080,231 | 11,926 | ||||
*,1 | Centuri Holdings Inc. | 601,970 | 11,726 | |||
Shyft Group Inc. | 966,234 | 11,460 | ||||
* | Titan International Inc. | 1,529,329 | 11,332 | |||
* | Willdan Group Inc. | 386,221 | 11,143 | |||
Allient Inc. | 433,848 | 10,963 | ||||
* | Hudson Technologies Inc. | 1,219,485 | 10,719 | |||
* | Graham Corp. | 378,043 | 10,646 | |||
* | Vishay Precision Group Inc. | 348,522 | 10,609 | |||
Covenant Logistics Group Inc. Class A | 209,939 | 10,348 | ||||
* | Titan Machinery Inc. | 641,694 | 10,203 | |||
* | CryoPort Inc. | 1,440,275 | 9,952 | |||
* | TrueBlue Inc. | 943,908 | 9,722 | |||
* | Distribution Solutions Group Inc. | 319,525 | 9,586 | |||
Universal Logistics Holdings Inc. | 231,011 | 9,377 | ||||
*,1 | Sezzle Inc. | 106,000 | 9,351 | |||
* | Paymentus Holdings Inc. Class A | 482,682 | 9,171 | |||
* | Radiant Logistics Inc. | 1,604,349 | 9,129 | |||
* | FARO Technologies Inc. | 567,800 | 9,085 | |||
* | Orion Group Holdings Inc. | 940,867 | 8,948 | |||
* | L B Foster Co. Class A | 413,864 | 8,906 | |||
* | Ranpak Holdings Corp. Class A | 1,351,532 | 8,690 | |||
Park Aerospace Corp. | 613,901 | 8,398 | ||||
Kronos Worldwide Inc. | 667,373 | 8,376 | ||||
*,1 | Target Hospitality Corp. | 959,098 | 8,354 | |||
*,1 | Custom Truck One Source Inc. | 1,834,182 | 7,979 | |||
* | TaskUS Inc. Class A | 576,204 | 7,669 | |||
*,1 | Proficient Auto Logistics Inc. | 475,277 | 7,633 | |||
*,1 | Evolv Technologies Holdings Inc. | 2,978,849 | 7,596 | |||
*,1 | Eos Energy Enterprises Inc. | 5,756,236 | 7,310 | |||
*,1 | Hyliion Holdings Corp. | 4,320,482 | 6,999 | |||
Park-Ohio Holdings Corp. | 268,028 | 6,939 | ||||
* | Acacia Research Corp. | 1,366,267 | 6,845 | |||
* | Iteris Inc. | 1,520,840 | 6,585 | |||
1 | Alta Equipment Group Inc. | 816,010 | 6,561 | |||
* | Mistras Group Inc. | 779,749 | 6,464 | |||
*,1 | Intuitive Machines Inc. | 1,952,842 | 6,444 | |||
* | Gencor Industries Inc. | 332,994 | 6,440 | |||
Karat Packaging Inc. | 217,229 | 6,426 | ||||
* | Performant Financial Corp. | 2,207,671 | 6,402 | |||
* | Blade Air Mobility Inc. | 1,782,888 | 6,204 | |||
* | Forrester Research Inc. | 360,304 | 6,154 | |||
* | AerSale Corp. | 888,167 | 6,146 | |||
Quad/Graphics Inc. | 1,105,270 | 6,024 | ||||
*,1 | Spire Global Inc. | 492,246 | 5,336 | |||
* | Mayville Engineering Co. Inc. | 318,534 | 5,307 | |||
*,1 | Redwire Corp. | 737,344 | 5,287 | |||
*,1 | Byrna Technologies Inc. | 503,354 | 5,024 | |||
*,1 | Virgin Galactic Holdings Inc. | 595,182 | 5,017 | |||
* | Commercial Vehicle Group Inc. | 1,007,798 | 4,938 | |||
Willis Lease Finance Corp. | 69,352 | 4,806 | ||||
* | Concrete Pumping Holdings Inc. | 795,293 | 4,780 | |||
Twin Disc Inc. | 395,659 | 4,661 | ||||
* | CS Disco Inc. | 770,155 | 4,590 |
Shares | Market Value• ($000) | |||||
* | Atlanticus Holdings Corp. | 160,278 | 4,517 | |||
* | Paysign Inc. | 994,857 | 4,288 | |||
Information Services Group Inc. | 1,422,145 | 4,181 | ||||
* | CPI Card Group Inc. | 143,851 | 3,920 | |||
* | Core Molding Technologies Inc. | 241,857 | 3,855 | |||
* | Skye Bioscience Inc. | 477,100 | 3,822 | |||
TTEC Holdings Inc. | 645,313 | 3,794 | ||||
* | Ultralife Corp. | 348,051 | 3,696 | |||
*,1 | Smith-Midland Corp. | 132,408 | 3,666 | |||
* | SoundThinking Inc. | 299,290 | 3,645 | |||
*,1 | Rekor Systems Inc. | 2,338,714 | 3,625 | |||
*,1 | BlackSky Technology Inc. Class A | 3,375,134 | 3,611 | |||
*,1 | Luna Innovations Inc. | 1,113,617 | 3,564 | |||
ARC Document Solutions Inc. | 1,338,175 | 3,533 | ||||
*,1 | DHI Group Inc. | 1,661,442 | 3,472 | |||
1 | CompoSecure Inc. Class A | 505,739 | 3,439 | |||
* | PAM Transportation Services Inc. | 196,206 | 3,408 | |||
*,1 | Terran Orbital Corp. | 3,974,706 | 3,259 | |||
1 | EVI Industries Inc. | 163,732 | 3,098 | |||
BGSF Inc. | 359,805 | 3,076 | ||||
* | RCM Technologies Inc. | 159,719 | 2,990 | |||
Hurco Cos. Inc. | 194,691 | 2,971 | ||||
*,1 | Desktop Metal Inc. Class A | 706,082 | 2,916 | |||
*,1 | Odyssey Marine Exploration Inc. Class B | 585,016 | 2,855 | |||
* | Manitex International Inc. | 640,610 | 2,838 | |||
*,1 | Babcock & Wilcox Enterprises Inc. | 1,843,405 | 2,673 | |||
*,1 | Microvast Holdings Inc. | 5,814,973 | 2,652 | |||
* | VirTra Inc. | 332,423 | 2,556 | |||
* | Alpha Pro Tech Ltd. | 462,840 | 2,546 | |||
* | Priority Technology Holdings Inc. | 479,587 | 2,532 | |||
*,1 | 374Water Inc. | 2,084,515 | 2,501 | |||
* | Broadwind Inc. | 689,278 | 2,261 | |||
* | Innovative Solutions & Support Inc. | 376,482 | 2,259 | |||
*,1 | Skillsoft Corp. | 157,227 | 2,174 | |||
* | Research Solutions Inc. | 846,894 | 2,160 | |||
*,1 | M-Tron Industries Inc. | 59,732 | 2,103 | |||
1 | HireQuest Inc. | 168,702 | 2,084 | |||
* | Frequency Electronics Inc. | 228,179 | 2,079 | |||
*,1 | Mega Matrix Corp. | 797,652 | 1,978 | |||
* | Hudson Global Inc. | 107,683 | 1,789 | |||
* | Taylor Devices Inc. | 39,700 | 1,786 | |||
*,1 | Danimer Scientific Inc. | 2,924,436 | 1,764 | |||
* | Where Food Comes From Inc. | 133,053 | 1,611 | |||
*,1 | Wrap Technologies Inc. | 780,731 | 1,561 | |||
*,1 | SKYX Platforms Corp. | 1,592,981 | 1,513 | |||
* | LightPath Technologies Inc. Class A | 1,199,048 | 1,511 | |||
*,1 | Coda Octopus Group Inc. | 222,690 | 1,342 | |||
* | FreightCar America Inc. | 383,200 | 1,337 | |||
* | Lightbridge Corp. | 383,955 | 1,294 | |||
*,1 | Markforged Holding Corp. | 3,063,363 | 1,256 | |||
* | GEE Group Inc. | 3,870,957 | 1,187 | |||
* | Usio Inc. | 757,304 | 1,159 | |||
* | Katapult Holdings Inc. | 65,728 | 1,105 | |||
1 | Espey Manufacturing & Electronics Corp. | 51,950 | 1,104 | |||
* | IZEA Worldwide Inc. | 426,395 | 1,002 | |||
*,1 | INNOVATE Corp. | 1,618,635 | 979 | |||
* | RF Industries Ltd. | 249,088 | 869 | |||
* | Orion Energy Systems Inc. | 781,379 | 867 | |||
* | Hydrofarm Holdings Group Inc. | 1,239,122 | 855 | |||
*,1 | Hyzon Motors Inc. | 2,641,529 | 848 | |||
* | Team Inc. | 88,315 | 784 | |||
* | CPI Aerostructures Inc. | 308,430 | 762 | |||
*,1 | Amprius Technologies Inc. | 593,900 | 754 | |||
*,1 | Sypris Solutions Inc. | 365,527 | 702 | |||
*,1 | Air T Inc. | 32,860 | 701 | |||
* | TSR Inc. | 50,537 | 677 | |||
*,1 | Workhorse Group Inc. | 419,586 | 659 | |||
*,1 | Palladyne AI Corp. | 406,368 | 650 | |||
* | Sono-Tek Corp. | 158,428 | 613 | |||
*,1 | Knightscope Inc. Class A | 1,984,525 | 609 |
Shares | Market Value• ($000) | |||||
*,1 | Velo3D Inc. | 172,442 | 573 | |||
*,1 | Dragonfly Energy Holdings Corp. | 610,200 | 516 | |||
*,1 | ClearSign Technologies Corp. | 603,165 | 503 | |||
* | Fuel Tech Inc. | 459,067 | 491 | |||
*,1 | Cepton Inc. | 170,313 | 458 | |||
*,1 | AppTech Payments Corp. | 483,438 | 454 | |||
* | Pioneer Power Solutions Inc. | 107,157 | 425 | |||
*,1 | TOMI Environmental Solutions Inc. | 484,669 | 425 | |||
* | Astrotech Corp. | 38,881 | 353 | |||
Taitron Components Inc. Class A | 125,572 | 333 | ||||
1 | Bel Fuse Inc. Class A | 3,626 | 293 | |||
*,1 | Xos Inc. | 39,983 | 276 | |||
* | LGL Group Inc. | 44,469 | 239 | |||
*,1 | Servotronics Inc. | 19,533 | 232 | |||
*,1 | Astra Space Inc. Class A | 456,137 | 230 | |||
* | Jewett-Cameron Trading Co. Ltd. | 39,728 | 196 | |||
* | AmpliTech Group Inc. | 169,463 | 178 | |||
* | Optex Systems Holdings Inc. | 23,999 | 173 | |||
*,1 | DSS Inc. | 70,030 | 120 | |||
*,1 | Shimmick Corp. | 53,073 | 82 | |||
* | SIFCO Industries Inc. | 24,401 | 76 | |||
*,1 | MSP Recovery Inc. | 140,320 | 65 | |||
* | ENGlobal Corp. | 47,390 | 64 | |||
* | Interlink Electronics Inc. | 9,414 | 39 | |||
* | Shapeways Holdings Inc. | 55,251 | 39 | |||
* | CISO Global Inc. | 58,916 | 34 | |||
*,1 | Akili Inc. Class A | 73,135 | 32 | |||
*,1 | Cheetah Net Supply Chain Service Inc. Class A | 51,752 | 22 | |||
* | Electro-Sensors Inc. | 4,306 | 17 | |||
* | Expion360 Inc. | 9,380 | 9 | |||
*,1 | Phoenix Motor Inc. | 10,021 | 3 | |||
* | Professional Diversity Network Inc. | 2,291 | 1 | |||
*,2 | Patriot National Inc. | 129,819 | — | |||
Ardagh Group SA Class A | 37 | — | ||||
*,2 | GCI Liberty Inc. | 2,704,635 | — | |||
199,654,534 | ||||||
Real Estate (2.6%) | ||||||
Prologis Inc. | 29,268,409 | 3,287,135 | ||||
American Tower Corp. | 14,760,326 | 2,869,112 | ||||
Equinix Inc. | 3,001,321 | 2,270,799 | ||||
Welltower Inc. | 18,870,378 | 1,967,237 | ||||
Digital Realty Trust Inc. | 10,195,996 | 1,550,301 | ||||
Simon Property Group Inc. | 9,775,716 | 1,483,954 | ||||
Realty Income Corp. | 27,539,359 | 1,454,629 | ||||
Public Storage | 5,005,956 | 1,439,963 | ||||
Crown Castle Inc. | 13,744,657 | 1,342,853 | ||||
Extra Space Storage Inc. | 6,680,235 | 1,038,175 | ||||
* | CoStar Group Inc. | 12,896,793 | 956,168 | |||
AvalonBay Communities Inc. | 4,481,568 | 927,192 | ||||
VICI Properties Inc. Class A | 30,203,334 | 865,023 | ||||
* | CBRE Group Inc. Class A | 9,675,272 | 862,164 | |||
Iron Mountain Inc. | 9,279,082 | 831,591 | ||||
Equity Residential | 11,377,128 | 788,890 | ||||
SBA Communications Corp. Class A | 3,388,933 | 665,248 | ||||
Invitation Homes Inc. | 18,353,392 | 658,703 | ||||
Ventas Inc. | 12,833,239 | 657,832 | ||||
Weyerhaeuser Co. | 23,107,679 | 656,027 | ||||
Alexandria Real Estate Equities Inc. | 5,509,354 | 644,429 | ||||
Essex Property Trust Inc. | 2,029,868 | 552,530 | ||||
Mid-America Apartment Communities Inc. | 3,698,146 | 527,393 | ||||
Sun Communities Inc. | 3,940,863 | 474,243 | ||||
Healthpeak Properties Inc. | 22,157,713 | 434,291 | ||||
UDR Inc. | 10,349,094 | 425,865 | ||||
Kimco Realty Corp. | 21,315,757 | 414,805 | ||||
Host Hotels & Resorts Inc. | 22,275,398 | 400,512 | ||||
WP Carey Inc. | 6,942,331 | 382,175 | ||||
Gaming & Leisure Properties Inc. | 8,187,040 | 370,136 | ||||
Camden Property Trust | 3,355,646 | 366,135 | ||||
Regency Centers Corp. | 5,840,406 | 363,273 |
Shares | Market Value• ($000) | |||||
American Homes 4 Rent Class A | 9,735,309 | 361,764 | ||||
Equity LifeStyle Properties Inc. | 5,319,634 | 346,468 | ||||
Lamar Advertising Co. Class A | 2,764,735 | 330,469 | ||||
CubeSmart | 7,136,826 | 322,370 | ||||
* | Jones Lang LaSalle Inc. | 1,500,217 | 307,965 | |||
Rexford Industrial Realty Inc. | 6,395,923 | 285,194 | ||||
Boston Properties Inc. | 4,493,501 | 276,620 | ||||
Omega Healthcare Investors Inc. | 7,753,385 | 265,553 | ||||
Federal Realty Investment Trust | 2,615,891 | 264,127 | ||||
EastGroup Properties Inc. | 1,518,569 | 258,309 | ||||
NNN REIT Inc. | 5,786,792 | 246,517 | ||||
Americold Realty Trust Inc. | 8,943,947 | 228,428 | ||||
* | Zillow Group Inc. Class C | 4,897,755 | 227,207 | |||
Brixmor Property Group Inc. | 9,505,462 | 219,481 | ||||
STAG Industrial Inc. | 5,771,682 | 208,127 | ||||
First Industrial Realty Trust Inc. | 4,188,265 | 198,984 | ||||
Agree Realty Corp. | 3,206,544 | 198,613 | ||||
Healthcare Realty Trust Inc. Class A | 11,865,172 | 195,538 | ||||
Terreno Realty Corp. | 3,085,429 | 182,596 | ||||
Ryman Hospitality Properties Inc. | 1,790,362 | 178,786 | ||||
Kite Realty Group Trust | 6,951,918 | 155,584 | ||||
Essential Properties Realty Trust Inc. | 5,574,072 | 154,458 | ||||
Vornado Realty Trust | 5,400,666 | 141,984 | ||||
Rayonier Inc. | 4,701,097 | 136,755 | ||||
Independence Realty Trust Inc. | 7,219,845 | 135,300 | ||||
Phillips Edison & Co. Inc. | 3,904,294 | 127,709 | ||||
1 | SL Green Realty Corp. | 2,114,517 | 119,766 | |||
Kilroy Realty Corp. | 3,664,949 | 114,236 | ||||
CareTrust REIT Inc. | 4,465,820 | 112,092 | ||||
Sabra Health Care REIT Inc. | 7,206,729 | 110,984 | ||||
Cousins Properties Inc. | 4,742,071 | 109,779 | ||||
Macerich Co. | 6,827,095 | 105,410 | ||||
1 | Hannon Armstrong Sustainable Infrastructure Capital Inc. | 3,547,070 | 104,993 | |||
Apple Hospitality REIT Inc. | 6,896,518 | 100,275 | ||||
PotlatchDeltic Corp. | 2,516,275 | 99,116 | ||||
EPR Properties | 2,353,866 | 98,815 | ||||
Innovative Industrial Properties Inc. | 875,797 | 95,655 | ||||
Tanger Inc. | 3,484,838 | 94,474 | ||||
Broadstone Net Lease Inc. | 5,862,018 | 93,030 | ||||
Park Hotels & Resorts Inc. | 6,193,105 | 92,773 | ||||
National Storage Affiliates Trust | 2,162,738 | 89,148 | ||||
COPT Defense Properties | 3,544,306 | 88,714 | ||||
National Health Investors Inc. | 1,307,811 | 88,578 | ||||
Highwoods Properties Inc. | 3,304,024 | 86,797 | ||||
SITE Centers Corp. | 5,860,551 | 84,978 | ||||
1 | Medical Properties Trust Inc. | 18,795,917 | 81,010 | |||
LXP Industrial Trust | 8,858,832 | 80,793 | ||||
DigitalBridge Group Inc. | 5,486,751 | 75,169 | ||||
* | Cushman & Wakefield plc | 7,059,270 | 73,416 | |||
Douglas Emmett Inc. | 5,371,261 | 71,491 | ||||
Four Corners Property Trust Inc. | 2,850,570 | 70,324 | ||||
Urban Edge Properties | 3,736,736 | 69,018 | ||||
Sunstone Hotel Investors Inc. | 6,525,251 | 68,254 | ||||
St. Joe Co. | 1,204,076 | 65,863 | ||||
Outfront Media Inc. | 4,495,483 | 64,285 | ||||
* | Howard Hughes Holdings Inc. | 947,351 | 61,407 | |||
* | Equity Commonwealth | 3,152,452 | 61,158 | |||
* | GEO Group Inc. | 4,121,737 | 59,188 | |||
* | Compass Inc. Class A | 15,850,073 | 57,060 | |||
Acadia Realty Trust | 3,162,674 | 56,675 | ||||
* | Zillow Group Inc. Class A | 1,245,391 | 56,092 | |||
DiamondRock Hospitality Co. | 6,533,678 | 55,210 | ||||
Global Net Lease Inc. | 7,141,433 | 52,490 | ||||
Pebblebrook Hotel Trust | 3,747,576 | 51,529 | ||||
InvenTrust Properties Corp. | 2,024,112 | 50,117 | ||||
LTC Properties Inc. | 1,450,793 | 50,052 | ||||
Xenia Hotels & Resorts Inc. | 3,270,803 | 46,871 | ||||
Retail Opportunity Investments Corp. | 3,735,391 | 46,431 | ||||
RLJ Lodging Trust | 4,613,796 | 44,431 | ||||
JBG SMITH Properties | 2,914,405 | 44,386 |
Shares | Market Value• ($000) | |||||
Elme Communities | 2,742,961 | 43,695 | ||||
Newmark Group Inc. Class A | 4,042,671 | 41,357 | ||||
NETSTREIT Corp. | 2,446,092 | 39,382 | ||||
Getty Realty Corp. | 1,461,549 | 38,965 | ||||
Alexander & Baldwin Inc. | 2,296,537 | 38,949 | ||||
Easterly Government Properties Inc. Class A | 3,049,122 | 37,718 | ||||
Empire State Realty Trust Inc. Class A | 3,956,656 | 37,113 | ||||
Veris Residential Inc. | 2,445,934 | 36,689 | ||||
* | Opendoor Technologies Inc. | 19,539,163 | 35,952 | |||
* | Apartment Investment & Management Co. Class A | 4,230,306 | 35,069 | |||
Kennedy-Wilson Holdings Inc. | 3,453,288 | 33,566 | ||||
UMH Properties Inc. | 1,965,774 | 31,433 | ||||
American Assets Trust Inc. | 1,389,913 | 31,106 | ||||
Centerspace | 449,687 | 30,412 | ||||
1 | American Healthcare REIT Inc. | 2,080,180 | 30,391 | |||
Plymouth Industrial REIT Inc. | 1,388,100 | 29,678 | ||||
Service Properties Trust | 5,434,087 | 27,931 | ||||
Piedmont Office Realty Trust Inc. Class A | 3,848,607 | 27,902 | ||||
Paramount Group Inc. | 5,809,540 | 26,898 | ||||
1 | eXp World Holdings Inc. | 2,383,163 | 26,894 | |||
NexPoint Residential Trust Inc. | 677,978 | 26,787 | ||||
Brandywine Realty Trust | 5,706,755 | 25,566 | ||||
Marcus & Millichap Inc. | 756,543 | 23,846 | ||||
* | Redfin Corp. | 3,639,291 | 21,872 | |||
Uniti Group Inc. | 7,407,252 | 21,629 | ||||
Armada Hoffler Properties Inc. | 1,922,159 | 21,317 | ||||
Diversified Healthcare Trust | 6,804,956 | 20,755 | ||||
Whitestone REIT | 1,556,615 | 20,719 | ||||
Hudson Pacific Properties Inc. | 4,287,995 | 20,625 | ||||
Summit Hotel Properties Inc. | 3,214,639 | 19,256 | ||||
Community Healthcare Trust Inc. | 756,535 | 17,695 | ||||
* | Forestar Group Inc. | 539,784 | 17,268 | |||
Global Medical REIT Inc. | 1,893,281 | 17,191 | ||||
Farmland Partners Inc. | 1,488,633 | 17,164 | ||||
Gladstone Commercial Corp. | 1,198,333 | 17,100 | ||||
Alexander's Inc. | 72,348 | 16,268 | ||||
Universal Health Realty Income Trust | 405,941 | 15,889 | ||||
Saul Centers Inc. | 414,107 | 15,227 | ||||
Gladstone Land Corp. | 1,070,672 | 14,658 | ||||
CBL & Associates Properties Inc. | 581,961 | 13,606 | ||||
One Liberty Properties Inc. | 553,531 | 12,997 | ||||
Chatham Lodging Trust | 1,482,231 | 12,629 | ||||
NET Lease Office Properties | 503,093 | 12,386 | ||||
1 | CTO Realty Growth Inc. | 683,273 | 11,930 | |||
1 | Peakstone Realty Trust | 1,086,903 | 11,521 | |||
Bridge Investment Group Holdings Inc. Class A | 1,517,732 | 11,262 | ||||
* | Tejon Ranch Co. | 637,627 | 10,878 | |||
1 | Ares Commercial Real Estate Corp. | 1,620,581 | 10,777 | |||
* | Anywhere Real Estate Inc. | 3,247,835 | 10,750 | |||
* | FRP Holdings Inc. | 353,227 | 10,074 | |||
RMR Group Inc. Class A | 444,426 | 10,044 | ||||
Postal Realty Trust Inc. Class A | 650,162 | 8,667 | ||||
Alpine Income Property Trust Inc. | 468,456 | 7,289 | ||||
* | Stratus Properties Inc. | 274,801 | 6,930 | |||
Industrial Logistics Properties Trust | 1,863,505 | 6,858 | ||||
Orion Office REIT Inc. | 1,862,300 | 6,686 | ||||
BRT Apartments Corp. | 370,032 | 6,464 | ||||
City Office REIT Inc. | 1,199,497 | 5,974 | ||||
*,1 | Seritage Growth Properties Class A | 1,151,332 | 5,377 | |||
Braemar Hotels & Resorts Inc. | 2,073,053 | 5,286 | ||||
RE/MAX Holdings Inc. Class A | 615,343 | 4,984 | ||||
* | Star Holdings | 397,823 | 4,798 | |||
* | Maui Land & Pineapple Co. Inc. | 208,674 | 4,601 | |||
Franklin Street Properties Corp. | 2,762,883 | 4,227 | ||||
1 | Office Properties Income Trust | 1,641,000 | 3,348 | |||
Modiv Industrial Inc. Class C | 224,372 | 3,173 | ||||
* | Douglas Elliman Inc. | 2,506,832 | 2,908 | |||
*,1 | Offerpad Solutions Inc. | 568,364 | 2,512 | |||
* | AMREP Corp. | 115,952 | 2,193 | |||
Bluerock Homes Trust Inc. | 109,382 | 1,914 |
Shares | Market Value• ($000) | |||||
Global Self Storage Inc. | 319,661 | 1,554 | ||||
Clipper Realty Inc. | 405,295 | 1,463 | ||||
Creative Media & Community Trust Corp. | 477,630 | 1,285 | ||||
*,1 | Ashford Hospitality Trust Inc. | 1,094,028 | 1,063 | |||
* | Comstock Holding Cos. Inc. Class A | 164,051 | 1,045 | |||
*,1 | Altisource Portfolio Solutions SA | 582,728 | 822 | |||
* | Rafael Holdings Inc. Class B | 511,989 | 737 | |||
* | Fathom Holdings Inc. | 347,914 | 598 | |||
*,1 | Sotherly Hotels Inc. | 340,105 | 391 | |||
*,2 | Spirit MTA REIT | 2,854,330 | 257 | |||
*,2 | New York REIT Liquidating LLC | 19,100 | 137 | |||
Presidio Property Trust Inc. Class A | 188,825 | 132 | ||||
*,1 | LuxUrban Hotels Inc. | 343,277 | 80 | |||
* | CKX Lands Inc. | 1,178 | 16 | |||
*,1 | American Strategic Investment Co. | 1,527 | 15 | |||
42,580,592 | ||||||
Technology (35.1%) | ||||||
Microsoft Corp. | 234,803,566 | 104,945,453 | ||||
Apple Inc. | 460,237,779 | 96,935,281 | ||||
NVIDIA Corp. | 738,344,877 | 91,215,126 | ||||
Meta Platforms Inc. Class A | 69,234,356 | 34,909,347 | ||||
Alphabet Inc. Class A | 185,855,788 | 33,853,632 | ||||
Alphabet Inc. Class C | 150,562,334 | 27,616,143 | ||||
Broadcom Inc. | 14,641,272 | 23,507,001 | ||||
* | Advanced Micro Devices Inc. | 51,071,273 | 8,284,271 | |||
* | Adobe Inc. | 14,153,839 | 7,863,024 | |||
Salesforce Inc. | 29,080,240 | 7,476,530 | ||||
Oracle Corp. | 52,082,789 | 7,354,090 | ||||
QUALCOMM Inc. | 35,263,823 | 7,023,848 | ||||
Applied Materials Inc. | 26,155,897 | 6,172,530 | ||||
Texas Instruments Inc. | 28,760,038 | 5,594,690 | ||||
Intuit Inc. | 8,387,395 | 5,512,280 | ||||
* | ServiceNow Inc. | 6,480,544 | 5,098,050 | |||
International Business Machines Corp. | 29,008,605 | 5,017,038 | ||||
Micron Technology Inc. | 34,986,544 | 4,601,780 | ||||
Lam Research Corp. | 4,129,940 | 4,397,767 | ||||
Intel Corp. | 134,503,423 | 4,165,571 | ||||
Analog Devices Inc. | 15,680,200 | 3,579,162 | ||||
KLA Corp. | 4,252,863 | 3,506,528 | ||||
* | Palo Alto Networks Inc. | 10,228,734 | 3,467,643 | |||
* | Synopsys Inc. | 4,840,573 | 2,880,431 | |||
* | Crowdstrike Holdings Inc. Class A | 7,287,240 | 2,792,398 | |||
* | Cadence Design Systems Inc. | 8,595,685 | 2,645,322 | |||
Amphenol Corp. Class A | 37,938,872 | 2,555,942 | ||||
Marvell Technology Inc. | 27,379,006 | 1,913,793 | ||||
Roper Technologies Inc. | 3,377,343 | 1,903,673 | ||||
* | Autodesk Inc. | 6,759,013 | 1,672,518 | |||
* | Palantir Technologies Inc. Class A | 63,958,487 | 1,620,068 | |||
Microchip Technology Inc. | 16,970,435 | 1,552,795 | ||||
* | Workday Inc. Class A | 6,695,588 | 1,496,866 | |||
TE Connectivity Ltd. | 9,670,292 | 1,454,702 | ||||
* | Super Micro Computer Inc. | 1,572,740 | 1,288,625 | |||
* | Snowflake Inc. Class A | 9,516,965 | 1,285,647 | |||
Monolithic Power Systems Inc. | 1,461,984 | 1,201,283 | ||||
* | Fortinet Inc. | 19,321,079 | 1,164,481 | |||
* | Datadog Inc. Class A | 8,777,624 | 1,138,370 | |||
Dell Technologies Inc. Class C | 8,229,395 | 1,134,916 | ||||
* | DoorDash Inc. Class A | 10,256,430 | 1,115,694 | |||
Cognizant Technology Solutions Corp. Class A | 15,737,159 | 1,070,127 | ||||
* | Gartner Inc. | 2,326,695 | 1,044,826 | |||
HP Inc. | 29,413,888 | 1,030,074 | ||||
Vertiv Holdings Co. Class A | 11,265,569 | 975,260 | ||||
CDW Corp. | 4,247,024 | 950,654 | ||||
Corning Inc. | 24,389,093 | 947,516 | ||||
* | ON Semiconductor Corp. | 13,612,905 | 933,165 | |||
* | HubSpot Inc. | 1,530,995 | 902,966 | |||
* | ANSYS Inc. | 2,764,488 | 888,783 | |||
* | Atlassian Corp. Class A | 4,972,698 | 879,571 | |||
Hewlett Packard Enterprise Co. | 41,061,620 | 869,275 |
Shares | Market Value• ($000) | |||||
NetApp Inc. | 6,536,611 | 841,916 | ||||
* | Pinterest Inc. Class A | 18,941,700 | 834,761 | |||
* | Western Digital Corp. | 10,290,002 | 779,673 | |||
* | Cloudflare Inc. Class A | 9,053,084 | 749,867 | |||
Teradyne Inc. | 4,939,199 | 732,434 | ||||
*,1 | MicroStrategy Inc. Class A | 498,554 | 686,748 | |||
Seagate Technology Holdings plc | 6,616,142 | 683,249 | ||||
* | Tyler Technologies Inc. | 1,336,629 | 672,030 | |||
* | PTC Inc. | 3,603,023 | 654,561 | |||
Entegris Inc. | 4,778,812 | 647,051 | ||||
* | Pure Storage Inc. Class A | 9,770,281 | 627,350 | |||
Leidos Holdings Inc. | 4,284,159 | 624,973 | ||||
* | GoDaddy Inc. Class A | 4,443,606 | 620,816 | |||
* | MongoDB Inc. Class A | 2,191,685 | 547,834 | |||
* | Zscaler Inc. | 2,845,780 | 546,930 | |||
* | Snap Inc. Class A | 32,776,164 | 544,412 | |||
Skyworks Solutions Inc. | 5,060,798 | 539,380 | ||||
* | AppLovin Corp. Class A | 6,052,905 | 503,723 | |||
* | Manhattan Associates Inc. | 1,944,155 | 479,584 | |||
* | Okta Inc. Class A | 5,091,435 | 476,609 | |||
* | VeriSign Inc. | 2,674,394 | 475,507 | |||
* | Zoom Video Communications Inc. Class A | 7,489,712 | 443,316 | |||
* | Nutanix Inc. Class A | 7,744,288 | 440,263 | |||
* | Akamai Technologies Inc. | 4,823,882 | 434,535 | |||
Gen Digital Inc. | 16,796,933 | 419,587 | ||||
SS&C Technologies Holdings Inc. | 6,630,947 | 415,561 | ||||
* | Dynatrace Inc. | 8,911,970 | 398,722 | |||
Jabil Inc. | 3,628,714 | 394,768 | ||||
* | Guidewire Software Inc. | 2,631,045 | 362,795 | |||
* | DocuSign Inc. Class A | 6,514,004 | 348,499 | |||
* | Qorvo Inc. | 3,002,355 | 348,393 | |||
* | Coherent Corp. | 4,796,616 | 347,563 | |||
* | Onto Innovation Inc. | 1,555,956 | 341,626 | |||
* | Toast Inc. Class A | 12,926,629 | 333,119 | |||
* | EPAM Systems Inc. | 1,743,821 | 328,030 | |||
* | F5 Inc. | 1,853,638 | 319,252 | |||
* | Elastic NV | 2,710,631 | 308,768 | |||
* | CACI International Inc. Class A | 701,981 | 301,943 | |||
Universal Display Corp. | 1,420,899 | 298,744 | ||||
* | Fabrinet | 1,143,783 | 279,987 | |||
* | Twilio Inc. Class A | 4,894,907 | 278,080 | |||
KBR Inc. | 4,274,426 | 274,162 | ||||
* | Match Group Inc. | 8,371,812 | 254,336 | |||
* | Lattice Semiconductor Corp. | 4,331,246 | 251,169 | |||
Bentley Systems Inc. Class B | 5,024,802 | 248,024 | ||||
TD SYNNEX Corp. | 2,069,510 | 238,821 | ||||
*,1 | Dayforce Inc. | 4,711,586 | 233,695 | |||
Paycom Software Inc. | 1,570,824 | 224,691 | ||||
* | SPS Commerce Inc. | 1,171,363 | 220,404 | |||
* | Cirrus Logic Inc. | 1,692,757 | 216,097 | |||
* | Procore Technologies Inc. | 3,248,129 | 215,383 | |||
* | Samsara Inc. Class A | 6,203,029 | 209,042 | |||
* | MACOM Technology Solutions Holdings Inc. | 1,837,852 | 204,865 | |||
* | Insight Enterprises Inc. | 1,028,385 | 203,990 | |||
* | Arrow Electronics Inc. | 1,662,554 | 200,770 | |||
* | Rambus Inc. | 3,397,974 | 199,665 | |||
* | Confluent Inc. Class A | 6,607,238 | 195,112 | |||
Science Applications International Corp. | 1,636,333 | 192,351 | ||||
* | Kyndryl Holdings Inc. | 7,251,685 | 190,792 | |||
* | Novanta Inc. | 1,139,286 | 185,829 | |||
* | SentinelOne Inc. Class A | 8,649,732 | 182,077 | |||
* | Smartsheet Inc. Class A | 4,117,269 | 181,489 | |||
* | Altair Engineering Inc. Class A | 1,825,777 | 179,072 | |||
* | Gitlab Inc. Class A | 3,536,235 | 175,822 | |||
* | Dropbox Inc. Class A | 7,500,052 | 168,526 | |||
* | CommVault Systems Inc. | 1,377,776 | 167,496 | |||
* | UiPath Inc. Class A | 13,149,665 | 166,738 | |||
* | Tenable Holdings Inc. | 3,814,108 | 166,219 | |||
* | Varonis Systems Inc. Class B | 3,395,993 | 162,906 | |||
* | CCC Intelligent Solutions Holdings Inc. | 14,562,604 | 161,791 |
Shares | Market Value• ($000) | |||||
* | Aspen Technology Inc. | 805,496 | 159,996 | |||
* | Qualys Inc. | 1,106,941 | 157,850 | |||
* | Appfolio Inc. Class A | 641,792 | 156,963 | |||
* | HashiCorp Inc. Class A | 4,591,255 | 154,679 | |||
Dolby Laboratories Inc. Class A | 1,877,079 | 148,721 | ||||
* | FormFactor Inc. | 2,445,719 | 148,039 | |||
Avnet Inc. | 2,850,265 | 146,760 | ||||
* | Axcelis Technologies Inc. | 1,022,986 | 145,458 | |||
* | Unity Software Inc. | 8,761,357 | 142,460 | |||
Amkor Technology Inc. | 3,515,395 | 140,686 | ||||
* | Maplebear Inc. | 4,241,139 | 136,310 | |||
* | Credo Technology Group Holding Ltd. | 4,169,423 | 133,171 | |||
Advanced Energy Industries Inc. | 1,191,076 | 129,541 | ||||
* | ZoomInfo Technologies Inc. Class A | 10,118,747 | 129,216 | |||
Power Integrations Inc. | 1,787,266 | 125,448 | ||||
* | Blackbaud Inc. | 1,625,465 | 123,812 | |||
* | Parsons Corp. | 1,481,798 | 121,226 | |||
* | Box Inc. Class A | 4,312,036 | 114,010 | |||
* | Workiva Inc. Class A | 1,531,466 | 111,782 | |||
Concentrix Corp. | 1,765,120 | 111,697 | ||||
* | Q2 Holdings Inc. | 1,846,682 | 111,410 | |||
* | Sanmina Corp. | 1,674,253 | 110,919 | |||
*,1 | Cleanspark Inc. | 6,849,113 | 109,243 | |||
* | Impinj Inc. | 690,345 | 108,225 | |||
* | Synaptics Inc. | 1,226,526 | 108,180 | |||
* | Silicon Laboratories Inc. | 958,570 | 106,047 | |||
* | Teradata Corp. | 3,060,527 | 105,772 | |||
* | DXC Technology Co. | 5,522,056 | 105,416 | |||
* | IAC Inc. | 2,246,366 | 105,242 | |||
* | JFrog Ltd. | 2,711,343 | 101,811 | |||
* | Five9 Inc. | 2,296,756 | 101,287 | |||
Dun & Bradstreet Holdings Inc. | 10,673,249 | 98,834 | ||||
* | Diodes Inc. | 1,364,545 | 98,152 | |||
* | Envestnet Inc. | 1,557,063 | 97,457 | |||
*,1 | C3.ai Inc. Class A | 3,350,587 | 97,033 | |||
* | Alarm.com Holdings Inc. | 1,493,125 | 94,873 | |||
* | Plexus Corp. | 879,387 | 90,735 | |||
* | Zeta Global Holdings Corp. Class A | 5,116,111 | 90,299 | |||
*,1 | Wolfspeed Inc. | 3,955,194 | 90,020 | |||
Vishay Intertechnology Inc. | 3,987,769 | 88,927 | ||||
* | Rapid7 Inc. | 2,000,989 | 86,503 | |||
* | BlackLine Inc. | 1,752,910 | 84,929 | |||
* | Freshworks Inc. Class A | 6,621,543 | 84,027 | |||
* | Veeco Instruments Inc. | 1,789,141 | 83,571 | |||
* | Perficient Inc. | 1,114,763 | 83,373 | |||
* | DoubleVerify Holdings Inc. | 4,267,944 | 83,097 | |||
* | Squarespace Inc. Class A | 1,897,877 | 82,804 | |||
* | Ziff Davis Inc. | 1,493,071 | 82,194 | |||
* | nCino Inc. | 2,571,703 | 80,880 | |||
* | Agilysys Inc. | 773,183 | 80,519 | |||
Pegasystems Inc. | 1,322,204 | 80,033 | ||||
* | Yelp Inc. Class A | 2,058,382 | 76,057 | |||
Progress Software Corp. | 1,374,405 | 74,575 | ||||
* | IPG Photonics Corp. | 875,072 | 73,847 | |||
* | Rogers Corp. | 583,780 | 70,410 | |||
* | Cargurus Inc. Class A | 2,665,239 | 69,829 | |||
* | RingCentral Inc. Class A | 2,474,549 | 69,782 | |||
* | Allegro MicroSystems Inc. | 2,432,871 | 68,704 | |||
* | Ultra Clean Holdings Inc. | 1,374,477 | 67,349 | |||
* | Ambarella Inc. | 1,238,173 | 66,799 | |||
* | SiTime Corp. | 535,480 | 66,603 | |||
* | Braze Inc. Class A | 1,689,526 | 65,621 | |||
* | Vertex Inc. Class A | 1,739,497 | 62,709 | |||
* | ePlus Inc. | 848,735 | 62,535 | |||
* | Informatica Inc. Class A | 2,024,947 | 62,530 | |||
* | TTM Technologies Inc. | 3,186,021 | 61,904 | |||
* | Semtech Corp. | 2,050,125 | 61,258 | |||
* | LiveRamp Holdings Inc. | 1,975,667 | 61,127 | |||
* | PagerDuty Inc. | 2,645,753 | 60,667 | |||
* | DigitalOcean Holdings Inc. | 1,743,318 | 60,580 |
Shares | Market Value• ($000) | |||||
* | Verint Systems Inc. | 1,856,728 | 59,787 | |||
* | Intapp Inc. | 1,531,255 | 56,151 | |||
*,1 | Core Scientific Inc. | 5,973,676 | 55,555 | |||
* | Magnite Inc. | 4,152,073 | 55,181 | |||
Clear Secure Inc. Class A | 2,878,245 | 53,852 | ||||
* | NCR Voyix Corp. | 4,339,382 | 53,591 | |||
*,1 | Reddit Inc. Class A | 834,978 | 53,347 | |||
* | Sprout Social Inc. Class A | 1,486,448 | 53,036 | |||
* | PAR Technology Corp. | 1,107,773 | 52,165 | |||
*,1 | Klaviyo Inc. Class A | 2,052,718 | 51,092 | |||
CTS Corp. | 965,304 | 48,873 | ||||
* | Photronics Inc. | 1,931,215 | 47,643 | |||
* | Cohu Inc. | 1,431,244 | 47,374 | |||
* | MaxLinear Inc. Class A | 2,337,568 | 47,079 | |||
* | AvePoint Inc. | 4,401,501 | 45,864 | |||
* | Everbridge Inc. | 1,303,478 | 45,609 | |||
*,1 | Astera Labs Inc. | 720,443 | 43,594 | |||
* | Zuora Inc. Class A | 4,343,334 | 43,129 | |||
Benchmark Electronics Inc. | 1,075,905 | 42,455 | ||||
* | Upwork Inc. | 3,916,144 | 42,099 | |||
Xerox Holdings Corp. | 3,535,202 | 41,079 | ||||
* | PDF Solutions Inc. | 1,125,211 | 40,935 | |||
* | Appian Corp. Class A | 1,307,249 | 40,342 | |||
* | Alkami Technology Inc. | 1,414,906 | 40,297 | |||
* | Asana Inc. Class A | 2,841,063 | 39,746 | |||
* | Jamf Holding Corp. | 2,396,786 | 39,547 | |||
* | Schrodinger Inc. | 2,006,168 | 38,799 | |||
* | NetScout Systems Inc. | 2,117,558 | 38,730 | |||
*,1 | Hut 8 Corp. | 2,539,969 | 38,074 | |||
*,1 | Terawulf Inc. | 8,513,018 | 37,883 | |||
* | Ichor Holdings Ltd. | 981,984 | 37,856 | |||
*,1 | SoundHound AI Inc. Class A | 9,472,098 | 37,415 | |||
* | PROS Holdings Inc. | 1,297,346 | 37,169 | |||
* | Matterport Inc. | 8,298,871 | 37,096 | |||
*,1 | IonQ Inc. | 5,218,688 | 36,687 | |||
CSG Systems International Inc. | 866,262 | 35,664 | ||||
* | SMART Global Holdings Inc. | 1,541,595 | 35,256 | |||
Adeia Inc. | 3,133,891 | 35,053 | ||||
* | ACM Research Inc. Class A | 1,492,308 | 34,413 | |||
* | Sprinklr Inc. Class A | 3,570,632 | 34,349 | |||
* | ScanSource Inc. | 724,619 | 32,108 | |||
1 | Shutterstock Inc. | 812,322 | 31,437 | |||
* | N-able Inc. | 1,990,562 | 30,316 | |||
* | Bumble Inc. Class A | 2,882,099 | 30,291 | |||
A10 Networks Inc. | 2,177,614 | 30,160 | ||||
* | E2open Parent Holdings Inc. | 6,679,626 | 29,992 | |||
* | Diebold Nixdorf Inc. | 768,681 | 29,579 | |||
* | Paycor HCM Inc. | 2,306,760 | 29,296 | |||
* | Fastly Inc. Class A | 3,934,486 | 28,997 | |||
*,1 | Trump Media & Technology Group Corp. | 868,400 | 28,440 | |||
*,1 | Rubrik Inc. Class A | 893,387 | 27,391 | |||
*,1 | indie Semiconductor Inc. Class A | 4,416,823 | 27,252 | |||
* | PubMatic Inc. Class A | 1,294,980 | 26,301 | |||
* | TechTarget Inc. | 803,304 | 25,039 | |||
*,1 | Cipher Mining Inc. | 5,952,937 | 24,705 | |||
* | Alpha & Omega Semiconductor Ltd. | 652,197 | 24,373 | |||
Simulations Plus Inc. | 494,699 | 24,052 | ||||
PC Connection Inc. | 347,109 | 22,284 | ||||
* | SEMrush Holdings Inc. Class A | 1,559,918 | 20,887 | |||
* | NerdWallet Inc. Class A | 1,360,443 | 19,862 | |||
* | Couchbase Inc. | 1,058,836 | 19,334 | |||
* | EverQuote Inc. Class A | 907,810 | 18,937 | |||
SolarWinds Corp. | 1,564,560 | 18,853 | ||||
* | Amplitude Inc. Class A | 2,104,813 | 18,733 | |||
* | Daktronics Inc. | 1,327,118 | 18,513 | |||
* | Vimeo Inc. | 4,771,784 | 17,799 | |||
* | Grid Dynamics Holdings Inc. | 1,669,314 | 17,545 | |||
*,1 | BigCommerce Holdings Inc. | 2,115,072 | 17,048 | |||
* | Yext Inc. | 3,131,558 | 16,754 | |||
* | Nextdoor Holdings Inc. | 5,919,104 | 16,455 |
Shares | Market Value• ($000) | |||||
*,1 | Digimarc Corp. | 519,938 | 16,123 | |||
*,1 | Ibotta Inc. Class A | 214,089 | 16,091 | |||
*,1 | Rumble Inc. | 2,893,237 | 16,057 | |||
*,1 | Applied Digital Corp. | 2,689,689 | 16,004 | |||
*,1 | Navitas Semiconductor Corp. Class A | 3,999,100 | 15,716 | |||
*,1 | Blend Labs Inc. Class A | 6,632,335 | 15,652 | |||
* | Mitek Systems Inc. | 1,393,659 | 15,581 | |||
* | OneSpan Inc. | 1,194,874 | 15,318 | |||
Hackett Group Inc. | 690,939 | 15,007 | ||||
*,1 | Xometry Inc. Class A | 1,297,641 | 15,001 | |||
* | Kimball Electronics Inc. | 678,438 | 14,912 | |||
*,1 | Vivid Seats Inc. Class A | 2,534,441 | 14,573 | |||
* | Olo Inc. Class A | 3,222,566 | 14,244 | |||
* | nLight Inc. | 1,266,724 | 13,845 | |||
* | CEVA Inc. | 705,138 | 13,602 | |||
* | MeridianLink Inc. | 624,948 | 13,349 | |||
*,1 | SmartRent Inc. Class A | 5,430,046 | 12,978 | |||
* | 3D Systems Corp. | 4,172,819 | 12,811 | |||
*,1 | Innodata Inc. | 862,549 | 12,792 | |||
* | Weave Communications Inc. | 1,415,597 | 12,769 | |||
* | MediaAlpha Inc. Class A | 947,014 | 12,472 | |||
* | Eventbrite Inc. Class A | 2,495,705 | 12,079 | |||
*,1 | Groupon Inc. Class A | 774,725 | 11,853 | |||
Methode Electronics Inc. | 1,099,754 | 11,382 | ||||
* | Planet Labs PBC | 6,073,764 | 11,297 | |||
* | Bandwidth Inc. Class A | 668,484 | 11,284 | |||
NVE Corp. | 151,011 | 11,279 | ||||
*,1 | Getty Images Holdings Inc. | 3,246,281 | 10,583 | |||
*,1 | Aehr Test Systems | 860,409 | 9,611 | |||
* | Consensus Cloud Solutions Inc. | 544,925 | 9,362 | |||
*,1 | Ouster Inc. | 944,870 | 9,288 | |||
American Software Inc. Class A | 1,015,337 | 9,270 | ||||
* | Thoughtworks Holding Inc. | 2,941,505 | 8,354 | |||
* | Enfusion Inc. Class A | 971,642 | 8,278 | |||
* | Unisys Corp. | 1,999,926 | 8,260 | |||
* | Definitive Healthcare Corp. Class A | 1,511,094 | 8,251 | |||
Climb Global Solutions Inc. | 129,613 | 8,141 | ||||
* | TrueCar Inc. | 2,574,147 | 8,057 | |||
* | Red Violet Inc. | 312,144 | 7,928 | |||
Immersion Corp. | 810,891 | 7,631 | ||||
* | Domo Inc. Class B | 984,533 | 7,601 | |||
1 | ReposiTrak Inc. | 446,617 | 6,829 | |||
* | Rimini Street Inc. | 2,196,424 | 6,743 | |||
* | ON24 Inc. | 1,112,442 | 6,686 | |||
* | Telos Corp. | 1,646,480 | 6,619 | |||
*,1 | MicroVision Inc. | 6,191,213 | 6,563 | |||
* | Innovid Corp. | 3,547,555 | 6,563 | |||
*,1 | SkyWater Technology Inc. | 815,617 | 6,239 | |||
* | eGain Corp. | 978,618 | 6,175 | |||
* | Arteris Inc. | 817,251 | 6,138 | |||
* | Asure Software Inc. | 703,908 | 5,913 | |||
* | Backblaze Inc. Class A | 949,303 | 5,848 | |||
*,1 | Silvaco Group Inc. | 314,640 | 5,657 | |||
*,1 | NextNav Inc. | 692,278 | 5,614 | |||
* | AXT Inc. | 1,624,038 | 5,489 | |||
*,1 | Tucows Inc. Class A | 280,738 | 5,424 | |||
* | Digital Turbine Inc. | 3,215,408 | 5,338 | |||
*,1 | Rackspace Technology Inc. | 1,693,613 | 5,047 | |||
* | Viant Technology Inc. Class A | 487,306 | 4,810 | |||
* | inTEST Corp. | 472,095 | 4,664 | |||
*,1 | CoreCard Corp. | 314,332 | 4,586 | |||
Richardson Electronics Ltd. | 365,090 | 4,341 | ||||
1 | CSP Inc. | 278,890 | 4,155 | |||
*,1 | QuickLogic Corp. | 392,792 | 4,081 | |||
* | 1stdibs.com Inc. | 880,788 | 3,955 | |||
* | Synchronoss Technologies Inc. | 422,273 | 3,927 | |||
* | AstroNova Inc. | 251,308 | 3,880 | |||
*,1 | FiscalNote Holdings Inc. | 2,644,812 | 3,861 | |||
*,1 | Porch Group Inc. | 2,495,034 | 3,768 | |||
*,1 | AudioEye Inc. | 211,717 | 3,728 |
Shares | Market Value• ($000) | |||||
*,1 | Rigetti Computing Inc. | 3,420,163 | 3,660 | |||
*,1 | Cerence Inc. | 1,272,905 | 3,602 | |||
* | Identiv Inc. | 822,415 | 3,536 | |||
* | DLH Holdings Corp. | 327,281 | 3,456 | |||
* | WM Technology Inc. | 3,203,513 | 3,332 | |||
* | Everspin Technologies Inc. | 527,987 | 3,163 | |||
* | Brightcove Inc. | 1,296,666 | 3,073 | |||
* | Kaltura Inc. | 2,537,683 | 3,045 | |||
*,1 | Intevac Inc. | 787,352 | 3,039 | |||
*,1 | Atomera Inc. | 794,782 | 3,028 | |||
* | Kopin Corp. | 3,418,996 | 2,872 | |||
* | Amtech Systems Inc. | 477,101 | 2,796 | |||
* | Upland Software Inc. | 980,074 | 2,440 | |||
* | Pixelworks Inc. | 2,464,577 | 2,423 | |||
*,1 | Intellicheck Inc. | 685,145 | 2,343 | |||
*,1 | BigBear.ai Holdings Inc. | 1,514,220 | 2,286 | |||
*,1 | Veritone Inc. | 999,603 | 2,259 | |||
* | Expensify Inc. Class A | 1,431,920 | 2,134 | |||
*,1 | Aeva Technologies Inc. | 759,242 | 1,913 | |||
* | SecureWorks Corp. Class A | 263,152 | 1,842 | |||
* | DecisionPoint Systems Inc. | 179,250 | 1,828 | |||
*,1 | comScore Inc. | 118,989 | 1,688 | |||
*,1 | Skillz Inc. Class A | 226,530 | 1,627 | |||
*,1 | Steel Connect Inc. | 126,263 | 1,621 | |||
* | GSI Technology Inc. | 574,548 | 1,523 | |||
*,1 | KULR Technology Group Inc. | 3,842,925 | 1,518 | |||
*,1 | BuzzFeed Inc. Class A | 527,006 | 1,455 | |||
*,1 | LivePerson Inc. | 2,488,033 | 1,444 | |||
* | Zedge Inc. Class B | 455,536 | 1,389 | |||
*,1 | Stronghold Digital Mining Inc. Class A | 317,829 | 1,364 | |||
* | Quantum Corp. | 3,321,825 | 1,359 | |||
*,1 | authID Inc. | 123,339 | 1,280 | |||
* | Aware Inc. | 646,876 | 1,274 | |||
*,1 | Phunware Inc. | 224,615 | 1,233 | |||
* | One Stop Systems Inc. | 498,283 | 1,201 | |||
* | Key Tronic Corp. | 295,513 | 1,197 | |||
* | NetSol Technologies Inc. | 448,836 | 1,140 | |||
*,1 | Flux Power Holdings Inc. | 359,465 | 1,118 | |||
* | WidePoint Corp. | 265,533 | 1,113 | |||
*,1 | Edgio Inc. | 100,478 | 1,097 | |||
1 | QXO Inc. | 14,848 | 1,066 | |||
* | TransAct Technologies Inc. | 269,345 | 1,015 | |||
* | Inuvo Inc. | 3,857,320 | 991 | |||
*,1 | Wag! Group Co. | 618,224 | 989 | |||
* | Issuer Direct Corp. | 110,039 | 863 | |||
*,1 | iPower Inc. | 386,294 | 804 | |||
*,1 | VirnetX Holding Corp. | 116,102 | 790 | |||
*,1 | Data Storage Corp. | 118,119 | 775 | |||
* | CVD Equipment Corp. | 198,073 | 771 | |||
*,1 | Quantum Computing Inc. | 1,534,269 | 771 | |||
*,1 | Beachbody Co. Inc. | 88,367 | 745 | |||
*,1 | Creative Realities Inc. | 157,780 | 740 | |||
*,1 | PSQ Holdings Inc. | 188,898 | 712 | |||
* | Mastech Digital Inc. | 91,726 | 688 | |||
* | Trio-Tech International | 108,490 | 661 | |||
*,1 | Griid Infrastructure Inc. | 619,000 | 656 | |||
* | SigmaTron International Inc. | 114,224 | 639 | |||
*,1 | Urgent.ly Inc. | 371,509 | 639 | |||
* | Data I/O Corp. | 213,344 | 589 | |||
*,1 | Paltalk Inc. | 139,156 | 559 | |||
*,1 | Smith Micro Software Inc. | 251,213 | 555 | |||
*,1 | Vroom Inc. | 54,150 | 505 | |||
*,1 | Sphere 3D Corp. | 450,035 | 486 | |||
* | Streamline Health Solutions Inc. | 1,027,543 | 474 | |||
*,1 | Duos Technologies Group Inc. | 158,934 | 455 | |||
* | Glimpse Group Inc. | 437,150 | 446 | |||
*,1 | KORE Group Holdings Inc. | 1,047,448 | 444 | |||
*,1 | Nutex Health Inc. | 685,683 | 408 | |||
*,1 | BTCS Inc. | 280,193 | 387 | |||
*,1 | Direct Digital Holdings Inc. Class A | 90,848 | 366 |
Shares | Market Value• ($000) | |||||
*,1 | Greenidge Generation Holdings Inc. Class A | 134,326 | 361 | |||
*,1 | Alpine 4 Holdings Inc. | 649,415 | 312 | |||
* | Bridgeline Digital Inc. | 255,869 | 235 | |||
* | System1 Inc. | 119,611 | 182 | |||
*,1 | CYNGN Inc. | 2,183,137 | 160 | |||
*,1 | VerifyMe Inc. | 111,645 | 157 | |||
*,1 | Arena Group Holdings Inc. | 140,920 | 109 | |||
* | Nortech Systems Inc. | 7,478 | 102 | |||
*,1 | Presto Automation Inc. | 1,445,442 | 101 | |||
*,1 | Intellinetics Inc. | 11,563 | 74 | |||
* | MariaDB plc | 44,832 | 24 | |||
579,852,785 | ||||||
Telecommunications (1.9%) | ||||||
Cisco Systems Inc. | 115,092,743 | 5,468,056 | ||||
Verizon Communications Inc. | 119,751,444 | 4,938,550 | ||||
Comcast Corp. Class A | 123,614,151 | 4,840,730 | ||||
AT&T Inc. | 226,437,780 | 4,327,226 | ||||
T-Mobile US Inc. | 16,661,388 | 2,935,403 | ||||
* | Arista Networks Inc. | 7,919,257 | 2,775,541 | |||
Motorola Solutions Inc. | 5,261,367 | 2,031,151 | ||||
* | Charter Communications Inc. Class A | 2,972,619 | 888,694 | |||
Juniper Networks Inc. | 10,291,465 | 375,227 | ||||
* | Roku Inc. Class A | 3,967,126 | 237,750 | |||
* | Ciena Corp. | 4,570,155 | 220,190 | |||
* | Frontier Communications Parent Inc. | 7,785,850 | 203,834 | |||
* | Liberty Broadband Corp. Class C | 3,679,393 | 201,704 | |||
* | Lumentum Holdings Inc. | 2,107,629 | 107,320 | |||
1 | InterDigital Inc. | 801,282 | 93,397 | |||
Iridium Communications Inc. | 3,474,198 | 92,483 | ||||
Cogent Communications Holdings Inc. | 1,386,949 | 78,279 | ||||
* | EchoStar Corp. Class A | 3,788,422 | 67,472 | |||
* | Calix Inc. | 1,786,160 | 63,284 | |||
1 | Telephone & Data Systems Inc. | 2,860,362 | 59,295 | |||
* | Extreme Networks Inc. | 3,822,848 | 51,417 | |||
1 | Cable One Inc. | 137,012 | 48,502 | |||
* | Viavi Solutions Inc. | 6,964,149 | 47,844 | |||
* | Viasat Inc. | 3,588,988 | 45,580 | |||
* | Harmonic Inc. | 3,815,084 | 44,904 | |||
*,1 | AST SpaceMobile Inc. Class A | 3,717,699 | 43,163 | |||
* | Infinera Corp. | 7,055,174 | 42,966 | |||
* | Lumen Technologies Inc. | 31,482,425 | 34,631 | |||
* | Liberty Broadband Corp. Class A | 527,571 | 28,805 | |||
* | Globalstar Inc. | 23,270,826 | 26,063 | |||
Shenandoah Telecommunications Co. | 1,567,557 | 25,598 | ||||
* | Digi International Inc. | 1,080,332 | 24,772 | |||
* | United States Cellular Corp. | 443,284 | 24,744 | |||
IDT Corp. Class B | 646,357 | 23,217 | ||||
* | Gogo Inc. | 2,072,895 | 19,941 | |||
* | Anterix Inc. | 415,431 | 16,447 | |||
* | Clearfield Inc. | 407,264 | 15,704 | |||
* | Powerfleet Inc. | 3,176,137 | 14,515 | |||
*,1 | Altice USA Inc. Class A | 6,820,954 | 13,915 | |||
* | NETGEAR Inc. | 888,099 | 13,588 | |||
ADTRAN Holdings Inc. | 2,177,265 | 11,452 | ||||
*,1 | fuboTV Inc. | 8,985,357 | 11,142 | |||
*,1 | Applied Optoelectronics Inc. | 1,342,926 | 11,133 | |||
*,1 | Lightwave Logic Inc. | 3,687,391 | 11,025 | |||
* | Xperi Inc. | 1,302,112 | 10,690 | |||
* | Aviat Networks Inc. | 354,894 | 10,182 | |||
* | Consolidated Communications Holdings Inc. | 2,211,019 | 9,729 | |||
* | Ribbon Communications Inc. | 2,700,143 | 8,884 | |||
* | WideOpenWest Inc. | 1,566,960 | 8,477 | |||
* | 8x8 Inc. | 3,698,543 | 8,211 | |||
* | CommScope Holding Co. Inc. | 6,519,315 | 8,019 | |||
Spok Holdings Inc. | 539,239 | 7,986 | ||||
* | Ooma Inc. | 729,720 | 7,246 | |||
ATN International Inc. | 315,238 | 7,187 | ||||
* | Lantronix Inc. | 942,727 | 3,347 | |||
*,1 | Inseego Corp. | 304,111 | 3,242 |
Shares | Market Value• ($000) | |||||
*,1 | KVH Industries Inc. | 623,125 | 2,898 | |||
* | Genasys Inc. | 1,282,730 | 2,713 | |||
*,1 | Comtech Telecommunications Corp. | 863,562 | 2,617 | |||
* | Airgain Inc. | 355,805 | 2,149 | |||
*,1 | SurgePays Inc. | 371,912 | 1,186 | |||
* | Crexendo Inc. | 345,906 | 1,088 | |||
*,1 | Cambium Networks Corp. | 375,529 | 1,048 | |||
* | BK Technologies Corp. | 81,621 | 1,045 | |||
Network-1 Technologies Inc. | 570,833 | 1,016 | ||||
*,1 | DZS Inc. | 641,747 | 751 | |||
* | Optical Cable Corp. | 122,058 | 331 | |||
*,1 | Akoustis Technologies Inc. | 2,194,754 | 289 | |||
ClearOne Inc. | 369,718 | 240 | ||||
*,1 | Sonim Technologies Inc. | 239,926 | 240 | |||
*,1 | NextPlat Corp. | 33,100 | 36 | |||
*,1,2 | FTE Networks Inc. | 84,180 | — | |||
30,767,501 | ||||||
Utilities (2.6%) | ||||||
NextEra Energy Inc. | 64,947,323 | 4,598,920 | ||||
Waste Management Inc. | 12,657,220 | 2,700,291 | ||||
Southern Co. | 34,581,080 | 2,682,454 | ||||
Duke Energy Corp. | 24,379,063 | 2,443,514 | ||||
Constellation Energy Corp. | 9,950,780 | 1,992,843 | ||||
Sempra | 19,996,419 | 1,520,928 | ||||
American Electric Power Co. Inc. | 16,641,865 | 1,460,157 | ||||
PG&E Corp. | 82,707,283 | 1,444,069 | ||||
Waste Connections Inc. | 8,138,711 | 1,427,204 | ||||
Dominion Energy Inc. | 26,482,806 | 1,297,658 | ||||
Republic Services Inc. Class A | 6,467,833 | 1,256,959 | ||||
Public Service Enterprise Group Inc. | 15,748,294 | 1,160,649 | ||||
Exelon Corp. | 31,591,371 | 1,093,377 | ||||
Consolidated Edison Inc. | 10,882,002 | 973,069 | ||||
Vistra Corp. | 10,999,846 | 945,767 | ||||
Xcel Energy Inc. | 17,558,985 | 937,825 | ||||
Edison International | 12,092,457 | 868,359 | ||||
American Water Works Co. Inc. | 6,156,430 | 795,165 | ||||
WEC Energy Group Inc. | 9,977,764 | 782,855 | ||||
Entergy Corp. | 6,748,346 | 722,073 | ||||
FirstEnergy Corp. | 17,266,944 | 660,806 | ||||
DTE Energy Co. | 5,896,267 | 654,545 | ||||
PPL Corp. | 23,188,536 | 641,163 | ||||
Eversource Energy | 11,043,244 | 626,262 | ||||
CenterPoint Energy Inc. | 20,209,295 | 626,084 | ||||
Ameren Corp. | 8,433,678 | 599,719 | ||||
CMS Energy Corp. | 9,433,067 | 561,550 | ||||
Atmos Energy Corp. | 4,772,294 | 556,688 | ||||
NRG Energy Inc. | 6,591,616 | 513,223 | ||||
Alliant Energy Corp. | 8,134,896 | 414,066 | ||||
NiSource Inc. | 14,186,301 | 408,707 | ||||
AES Corp. | 22,397,180 | 393,518 | ||||
Evergy Inc. | 6,907,987 | 365,916 | ||||
* | Clean Harbors Inc. | 1,537,879 | 347,791 | |||
Essential Utilities Inc. | 7,810,163 | 291,553 | ||||
Pinnacle West Capital Corp. | 3,604,031 | 275,276 | ||||
OGE Energy Corp. | 6,313,319 | 225,386 | ||||
* | Casella Waste Systems Inc. Class A | 1,803,776 | 178,971 | |||
* | Stericycle Inc. | 2,897,341 | 168,422 | |||
National Fuel Gas Co. | 2,896,340 | 156,953 | ||||
UGI Corp. | 6,684,092 | 153,066 | ||||
Southwest Gas Holdings Inc. | 2,137,594 | 150,444 | ||||
IDACORP Inc. | 1,595,595 | 148,630 | ||||
Portland General Electric Co. | 3,244,599 | 140,296 | ||||
New Jersey Resources Corp. | 3,114,673 | 133,121 | ||||
Ormat Technologies Inc. | 1,851,307 | 132,739 | ||||
Black Hills Corp. | 2,146,894 | 116,748 | ||||
ONE Gas Inc. | 1,781,777 | 113,766 | ||||
ALLETE Inc. | 1,821,082 | 113,544 | ||||
PNM Resources Inc. | 2,879,440 | 106,424 | ||||
Northwestern Energy Group Inc. | 1,975,128 | 98,914 |
Shares | Market Value• ($000) | |||||
Spire Inc. | 1,572,145 | 95,476 | ||||
California Water Service Group | 1,819,948 | 88,249 | ||||
Avangrid Inc. | 2,440,686 | 86,718 | ||||
MGE Energy Inc. | 1,155,793 | 86,361 | ||||
American States Water Co. | 1,176,847 | 85,404 | ||||
Avista Corp. | 2,454,049 | 84,935 | ||||
*,1 | Sunrun Inc. | 6,547,948 | 77,659 | |||
Chesapeake Utilities Corp. | 694,722 | 73,779 | ||||
Clearway Energy Inc. Class C | 2,354,461 | 58,132 | ||||
SJW Group | 889,711 | 48,240 | ||||
Northwest Natural Holding Co. | 1,265,412 | 45,694 | ||||
Hawaiian Electric Industries Inc. | 3,505,804 | 31,622 | ||||
Clearway Energy Inc. Class A | 1,328,138 | 30,096 | ||||
Middlesex Water Co. | 566,727 | 29,617 | ||||
*,1 | NuScale Power Corp. Class A | 2,421,227 | 28,304 | |||
Unitil Corp. | 502,458 | 26,022 | ||||
* | Enviri Corp. | 2,510,417 | 21,665 | |||
*,1 | Sunnova Energy International Inc. | 3,440,199 | 19,196 | |||
Aris Water Solutions Inc. Class A | 864,765 | 13,551 | ||||
York Water Co. | 338,198 | 12,544 | ||||
Genie Energy Ltd. Class B | 743,537 | 10,871 | ||||
Excelerate Energy Inc. Class A | 578,136 | 10,661 | ||||
1 | Artesian Resources Corp. Class A | 286,688 | 10,080 | |||
*,1 | Net Power Inc. | 785,852 | 7,725 | |||
* | Altus Power Inc. Class A | 1,749,901 | 6,860 | |||
* | Pure Cycle Corp. | 607,231 | 5,799 | |||
RGC Resources Inc. | 255,382 | 5,223 | ||||
Global Water Resources Inc. | 430,487 | 5,209 | ||||
* | Quest Resource Holding Corp. | 559,393 | 4,923 | |||
* | Arq Inc. | 784,820 | 4,764 | |||
*,1 | Perma-Fix Environmental Services Inc. | 384,758 | 3,898 | |||
*,1 | Cadiz Inc. | 1,259,737 | 3,893 | |||
*,1 | Vertex Energy Inc. | 2,988,408 | 2,823 | |||
*,1 | Aqua Metals Inc. | 2,952,345 | 945 | |||
* | Clean Energy Technologies Inc. | 37,330 | 49 | |||
*,1 | Vivakor Inc. | 22,619 | 45 | |||
42,305,459 | ||||||
Total Common Stocks (Cost $717,974,061) | 1,647,272,152 | |||||
Preferred Stocks (0.0%) | ||||||
*,1,2 | Next Bridge Hydrocarbons Inc. Preference Shares | 1,763,201 | — | |||
*,2 | BTCS Inc. Preference Shares | 280,193 | — | |||
Total Preferred Stocks (Cost $5,104) | — | |||||
Rights (0.0%) | ||||||
*,1,2 | Frequency Therapeutics Inc. CVR | 1,246,700 | 2,445 | |||
*,1,2 | Tobira Therapeutics Inc. CVR Exp. 12/31/28 | 201,001 | 911 | |||
*,2 | Inhibrx Inc. CVR | 1,216,278 | 788 | |||
*,2 | Spectrum Pharmaceuticals Inc. CVR | 5,990,797 | 488 | |||
*,2 | Imara Inc. CVR | 370,003 | 463 | |||
*,1,2 | Palisade Bio Inc. CVR | 204,224 | 196 | |||
*,2 | Ocera Therapeutics Inc. CVR | 653,477 | 176 | |||
*,2 | Surface Oncology Inc. CVR | 1,709,153 | 161 | |||
*,2 | Adamas Pharmaceuticals Inc. CVR | 2,522,158 | 152 | |||
*,1,2 | CinCor Pharma Inc. CVR | 28,710 | 88 | |||
*,2 | Gyre Therapeutics Inc. CVR | 826,502 | 83 | |||
*,2 | Aduro Biotech Inc. CVR | 415,255 | 76 | |||
*,2 | Strongbridge Biopharma plc CVR | 1,399,363 | 48 | |||
*,1,2 | Miragen Therapeutics Inc. CVR | 1,753,041 | 35 | |||
*,1,2 | Q32 Bio Inc. CVR | 1,354,738 | 12 | |||
*,2 | Alexza Pharmaceuticals Inc. CVR | 327,391 | 11 | |||
*,1,2 | Oncternal Therapeutics Inc. CVR | 8,933 | 9 | |||
*,2 | F-star Therapeutics Inc. CVR | 122,042 | 8 | |||
*,2 | Dianthus Therapeutics Inc. CVR | 1,432,921 | 7 | |||
*,2 | Ambit Biosciences Corp. CVR | 201,330 | — | |||
*,2 | Pineapple Energy Inc. CVR | 69,639 | — | |||
*,2 | ABIOMED Inc. CVR | 264 | — | |||
*,1,2 | Sesen Bio Inc. CVR | 6,822,627 | — | |||
*,2 | Neurogene Inc. CVR | 98,708 | — |
Shares | Market Value• ($000) | |||||
*,1,2 | Traws Pharma Inc. CVR | 365,661 | — | |||
*,2 | Tectonic Therapeutic Inc. CVR | 110,889 | — | |||
Total Rights (Cost $4,986) | 6,157 | |||||
Warrants (0.0%) | ||||||
* | Geron Corp. Exp. 12/31/25 | 1,202,419 | 1,804 | |||
* | Presidio Property Trust Inc. Exp. 1/24/27 | 110,319 | 4 | |||
* | Hycroft Mining Holding Corp. Exp. 10/6/25 | 155,000 | 3 | |||
* | LGL Group Inc. Exp. 12/16/25 | 2,391 | 1 | |||
* | Ayala Pharmaceuticals Inc. Exp. 9/11/24 | 157,660 | — | |||
* | SELLAS Life Sciences Group Inc. Exp. 4/5/27 | 40,000 | — | |||
*,2 | Athenex Inc. Exp. 8/15/27 | 535,168 | — | |||
* | Danimer Scientific Inc. Exp. 7/15/25 | 974,811 | — | |||
* | Serina Therapeutics Inc. Exp. 7/31/25 | 7,270 | — | |||
Total Warrants (Cost $9) | 1,812 | |||||
Temporary Cash Investments (0.4%) | ||||||
Money Market Fund (0.4%) | ||||||
5,6 | Vanguard Market Liquidity Fund, 5.380% (Cost $6,286,925) | 62,888,982 | 6,288,269 | |||
Total Investments (100.2%) (Cost $724,271,085) | 1,653,568,390 | |||||
Other Assets and Liabilities—Net (-0.2%) | (3,879,715) | |||||
Net Assets (100%) | 1,649,688,675 |
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 $3,945,365,000. |
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 | Restricted securities totaling $3,827,000, representing 0.0% of net assets. |
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 $4,493,692,000 was received for securities on loan, of which $4,491,442,000 is held in Vanguard Market Liquidity Fund and $2,250,000 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 2024 | 4,453 | 459,772 | 7,859 |
E-mini S&P 500 Index | September 2024 | 4,272 | 1,179,393 | 1,076 |
E-mini S&P Mid-Cap 400 Index | September 2024 | 240 | 70,994 | 684 |
9,619 |
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) |
Arbor Realty Trust Inc. | 1/31/25 | GSI | 7,020 | (5.330) | 144 | — |
Global Payments Inc. | 8/30/24 | BANA | 184,349 | (5.930) | — | (9,628) |
Goldman Sachs Group Inc. | 8/29/25 | BANA | 388,499 | (6.030) | — | (2,861) |
Invesco Ltd. | 8/30/24 | BANA | 5,341 | (5.880) | — | (277) |
Paycor HCM Inc. | 1/31/25 | CITNA | 2,474 | (5.330) | 57 | — |
VICI Properties Inc. Class A | 8/30/24 | BANA | 78,953 | (5.980) | 621 | — |
Visa Inc. Class A | 8/30/24 | BANA | 61,304 | (5.230) | — | (2,353) |
Visa Inc. Class A | 8/30/24 | BANA | 54,492 | (5.330) | — | (2,096) |
822 | (17,215) |
1 | Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
CITNA—Citibank, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $717,980,542) | 1,647,277,412 |
Affiliated Issuers (Cost $6,290,543) | 6,290,978 |
Total Investments in Securities | 1,653,568,390 |
Investment in Vanguard | 47,165 |
Cash | 180,060 |
Cash Collateral Pledged—Futures Contracts | 121,720 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 24,290 |
Receivables for Investment Securities Sold | 176,558 |
Receivables for Accrued Income | 902,050 |
Receivables for Capital Shares Issued | 1,785,970 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 822 |
Total Assets | 1,656,807,025 |
Liabilities | |
Payables for Investment Securities Purchased | 141,827 |
Collateral for Securities on Loan | 4,493,692 |
Payables for Capital Shares Redeemed | 679,319 |
Payables for Distributions | 1,758,988 |
Payables to Vanguard | 19,503 |
Variation Margin Payable—Futures Contracts | 7,806 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 17,215 |
Total Liabilities | 7,118,350 |
Net Assets | 1,649,688,675 |
1 Includes $3,945,365,000 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At June 30, 2024, net assets consisted of: | |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Paid-in Capital | 733,050,419 |
Total Distributable Earnings (Loss) | 916,638,256 |
Net Assets | 1,649,688,675 |
Investor Shares—Net Assets | |
Applicable to 165,403,270 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 21,540,285 |
Net Asset Value Per Share—Investor Shares | $130.23 |
ETF Shares—Net Assets | |
Applicable to 1,526,604,705 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 408,458,076 |
Net Asset Value Per Share—ETF Shares | $267.56 |
Admiral Shares—Net Assets | |
Applicable to 2,934,599,359 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 382,220,988 |
Net Asset Value Per Share—Admiral Shares | $130.25 |
Institutional Shares—Net Assets | |
Applicable to 696,438,190 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 90,722,317 |
Net Asset Value Per Share—Institutional Shares | $130.27 |
Institutional Plus Shares—Net Assets | |
Applicable to 2,758,267,523 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 673,967,510 |
Net Asset Value Per Share—Institutional Plus Shares | $244.34 |
Institutional Select Shares—Net Assets | |
Applicable to 283,802,298 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 72,779,499 |
Net Asset Value Per Share—Institutional Select Shares | $256.44 |
Six Months Ended June 30, 2024 | |
($000) | |
Investment Income | |
Income | |
Dividends—Unaffiliated Issuers1 | 10,484,100 |
Interest—Unaffiliated Issuers | 4,320 |
Interest—Affiliated Issuers | 76,071 |
Securities Lending—Net | 87,640 |
Total Income | 10,652,131 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 16,890 |
Management and Administrative—Investor Shares | 13,557 |
Management and Administrative—ETF Shares | 43,833 |
Management and Administrative—Admiral Shares | 61,043 |
Management and Administrative—Institutional Shares | 11,012 |
Management and Administrative—Institutional Plus Shares | 45,932 |
Management and Administrative—Institutional Select Shares | 2,620 |
Marketing and Distribution—Investor Shares | 534 |
Marketing and Distribution—ETF Shares | 6,725 |
Marketing and Distribution—Admiral Shares | 6,763 |
Marketing and Distribution—Institutional Shares | 991 |
Marketing and Distribution—Institutional Plus Shares | 7,775 |
Marketing and Distribution—Institutional Select Shares | 63 |
Custodian Fees | 1,090 |
Shareholders’ Reports—Investor Shares | 91 |
Shareholders’ Reports—ETF Shares | 1,711 |
Shareholders’ Reports—Admiral Shares | 686 |
Shareholders’ Reports—Institutional Shares | 39 |
Shareholders’ Reports—Institutional Plus Shares | 1,331 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 449 |
Other Expenses | 59 |
Total Expenses | 223,194 |
Net Investment Income | 10,428,937 |
Realized Net Gain (Loss) | |
Investment Securities Sold—Unaffiliated Issuers2 | 14,880,876 |
Investment Securities Sold—Affiliated Issuers | (216) |
Futures Contracts | 483,753 |
Swap Contracts | 83,308 |
Realized Net Gain (Loss) | 15,447,721 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities—Unaffiliated Issuers | 172,229,550 |
Investment Securities—Affiliated Issuers | 970 |
Futures Contracts | (34,697) |
Swap Contracts | (96,534) |
Change in Unrealized Appreciation (Depreciation) | 172,099,289 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 197,975,947 |
1 | Dividends are net of foreign withholding taxes of $2,088,000. |
2 | Includes $17,992,397,000 of net gain (loss) resulting from in-kind redemptions. |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 10,428,937 | 20,819,881 | |
Realized Net Gain (Loss) | 15,447,721 | 24,990,732 | |
Change in Unrealized Appreciation (Depreciation) | 172,099,289 | 256,780,740 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 197,975,947 | 302,591,353 | |
Distributions | |||
Investor Shares | (139,591) | (289,384) | |
ETF Shares | (2,814,161) | (4,851,485) | |
Admiral Shares | (2,639,551) | (4,859,268) | |
Institutional Shares | (632,819) | (1,178,824) | |
Institutional Plus Shares | (4,681,006) | (8,827,594) | |
Institutional Select Shares | (500,650) | (811,797) | |
Total Distributions | (11,407,778) | (20,818,352) | |
Capital Share Transactions | |||
Investor Shares | (1,430,085) | (2,239,443) | |
ETF Shares | 15,098,115 | 21,896,112 | |
Admiral Shares | (1,500,678) | (108,385) | |
Institutional Shares | (1,034,460) | (1,318,438) | |
Institutional Plus Shares | (10,178,017) | (188,430) | |
Institutional Select Shares | 3,624,167 | 5,800,564 | |
Net Increase (Decrease) from Capital Share Transactions | 4,579,042 | 23,841,980 | |
Total Increase (Decrease) | 191,147,211 | 305,614,981 | |
Net Assets | |||
Beginning of Period | 1,458,541,464 | 1,152,926,483 | |
End of Period | 1,649,688,675 | 1,458,541,464 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period | Six Months Ended June 30, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $115.48 | $93.09 | $117.53 | $94.71 | $79.66 | $62.08 |
Investment Operations | ||||||
Net Investment Income1 | .756 | 1.536 | 1.335 | 1.284 | 1.284 | 1.279 |
Capital Gain Distributions Received | — | .0001,2 | .0001,2 | .0001,2 | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | 14.830 | 22.401 | (24.344) | 22.837 | 15.026 | 17.634 |
Total from Investment Operations | 15.586 | 23.937 | (23.009) | 24.121 | 16.310 | 18.913 |
Distributions | ||||||
Dividends from Net Investment Income | (.836) | (1.547) | (1.431) | (1.301) | (1.260) | (1.333) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.836) | (1.547) | (1.431) | (1.301) | (1.260) | (1.333) |
Net Asset Value, End of Period | $130.23 | $115.48 | $93.09 | $117.53 | $94.71 | $79.66 |
Total Return3 | 13.51% | 25.89% | -19.60% | 25.59% | 20.87% | 30.65% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $21,540 | $20,443 | $18,409 | $133,977 | $153,845 | $139,686 |
Ratio of Total Expenses to Average Net Assets | 0.14% | 0.14%4 | 0.14%4 | 0.14% | 0.14% | 0.14% |
Ratio of Net Investment Income to Average Net Assets | 1.25% | 1.48% | 1.28% | 1.20% | 1.62% | 1.78% |
Portfolio Turnover Rate5 | 1% | 2% | 3% | 4% | 8% | 4% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $237.25 | $191.25 | $241.49 | $194.61 | $163.70 | $127.56 |
Investment Operations | ||||||
Net Investment Income1 | 1.696 | 3.411 | 3.191 | 2.912 | 2.831 | 2.809 |
Capital Gain Distributions Received | — | .0001,2 | .0001,2 | .0001,2 | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | 30.476 | 46.002 | (50.248) | 46.898 | 30.848 | 36.236 |
Total from Investment Operations | 32.172 | 49.413 | (47.057) | 49.810 | 33.679 | 39.045 |
Distributions | ||||||
Dividends from Net Investment Income | (1.862) | (3.413) | (3.183) | (2.930) | (2.769) | (2.905) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.862) | (3.413) | (3.183) | (2.930) | (2.769) | (2.905) |
Net Asset Value, End of Period | $267.56 | $237.25 | $191.25 | $241.49 | $194.61 | $163.70 |
Total Return | 13.58% | 26.03% | -19.50% | 25.72% | 20.95% | 30.80% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $408,458 | $347,955 | $261,084 | $299,088 | $202,075 | $138,067 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03%3 | 0.03%3 | 0.03% | 0.03% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.37% | 1.60% | 1.55% | 1.31% | 1.73% | 1.89% |
Portfolio Turnover Rate4 | 1% | 2% | 3% | 4% | 8% | 4% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $115.49 | $93.10 | $117.56 | $94.74 | $79.69 | $62.09 |
Investment Operations | ||||||
Net Investment Income1 | .818 | 1.645 | 1.540 | 1.402 | 1.364 | 1.360 |
Capital Gain Distributions Received | — | .0001,2 | .0001,2 | .0001,2 | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | 14.842 | 22.396 | (24.460) | 22.833 | 15.025 | 17.646 |
Total from Investment Operations | 15.660 | 24.041 | (22.920) | 24.235 | 16.389 | 19.006 |
Distributions | ||||||
Dividends from Net Investment Income | (.900) | (1.651) | (1.540) | (1.415) | (1.339) | (1.406) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.900) | (1.651) | (1.540) | (1.415) | (1.339) | (1.406) |
Net Asset Value, End of Period | $130.25 | $115.49 | $93.10 | $117.56 | $94.74 | $79.69 |
Total Return3 | 13.57% | 26.01% | -19.53% | 25.71% | 20.99% | 30.80% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $382,221 | $340,379 | $274,489 | $341,733 | $273,622 | $252,536 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04%4 | 0.04%4 | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 1.35% | 1.59% | 1.54% | 1.30% | 1.72% | 1.88% |
Portfolio Turnover Rate5 | 1% | 2% | 3% | 4% | 8% | 4% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $115.51 | $93.12 | $117.58 | $94.75 | $79.70 | $62.10 |
Investment Operations | ||||||
Net Investment Income1 | .825 | 1.655 | 1.497 | 1.416 | 1.374 | 1.365 |
Capital Gain Distributions Received | — | .0001,2 | .0001,2 | .0001,2 | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | 14.842 | 22.397 | (24.407) | 22.841 | 15.024 | 17.649 |
Total from Investment Operations | 15.667 | 24.052 | (22.910) | 24.257 | 16.398 | 19.014 |
Distributions | ||||||
Dividends from Net Investment Income | (.907) | (1.662) | (1.550) | (1.427) | (1.348) | (1.414) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.907) | (1.662) | (1.550) | (1.427) | (1.348) | (1.414) |
Net Asset Value, End of Period | $130.27 | $115.51 | $93.12 | $117.58 | $94.75 | $79.70 |
Total Return | 13.58% | 26.02% | -19.51% | 25.73% | 21.00% | 30.81% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $90,722 | $81,389 | $66,751 | $249,282 | $180,586 | $152,716 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03%3 | 0.03%3 | 0.03% | 0.03% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.37% | 1.60% | 1.46% | 1.31% | 1.73% | 1.89% |
Portfolio Turnover Rate4 | 1% | 2% | 3% | 4% | 8% | 4% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $216.65 | $174.63 | $220.49 | $177.69 | $149.47 | $116.46 |
Investment Operations | ||||||
Net Investment Income1 | 1.558 | 3.123 | 2.960 | 2.672 | 2.591 | 2.575 |
Capital Gain Distributions Received | — | .0001,2 | .0001,2 | .0001,2 | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | 27.833 | 42.014 | (45.906) | 42.823 | 28.172 | 33.100 |
Total from Investment Operations | 29.391 | 45.137 | (42.946) | 45.495 | 30.763 | 35.675 |
Distributions | ||||||
Dividends from Net Investment Income | (1.701) | (3.117) | (2.914) | (2.695) | (2.543) | (2.665) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.701) | (3.117) | (2.914) | (2.695) | (2.543) | (2.665) |
Net Asset Value, End of Period | $244.34 | $216.65 | $174.63 | $220.49 | $177.69 | $149.47 |
Total Return | 13.58% | 26.03% | -19.51% | 25.74% | 21.02% | 30.82% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $673,968 | $607,188 | $488,093 | $296,554 | $226,288 | $188,188 |
Ratio of Total Expenses to Average Net Assets | 0.02% | 0.02%3 | 0.02%3 | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.37% | 1.61% | 1.59% | 1.32% | 1.74% | 1.90% |
Portfolio Turnover Rate4 | 1% | 2% | 3% | 4% | 8% | 4% |
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, 2024 | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $227.37 | $183.25 | $231.36 | $186.45 | $156.83 | $122.20 |
Investment Operations | ||||||
Net Investment Income1 | 1.648 | 3.312 | 3.093 | 2.821 | 2.772 | 2.709 |
Capital Gain Distributions Received | — | .0001,2 | .0001,2 | .0001,2 | — | — |
Net Realized and Unrealized Gain (Loss) on Investments | 29.207 | 44.079 | (48.139) | 44.937 | 29.532 | 34.731 |
Total from Investment Operations | 30.855 | 47.391 | (45.046) | 47.758 | 32.304 | 37.440 |
Distributions | ||||||
Dividends from Net Investment Income | (1.785) | (3.271) | (3.064) | (2.848) | (2.684) | (2.810) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.785) | (3.271) | (3.064) | (2.848) | (2.684) | (2.810) |
Net Asset Value, End of Period | $256.44 | $227.37 | $183.25 | $231.36 | $186.45 | $156.83 |
Total Return | 13.59% | 26.05% | -19.50% | 25.75% | 21.03% | 30.84% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $72,779 | $61,187 | $44,101 | $52,780 | $44,296 | $26,431 |
Ratio of Total Expenses to Average Net Assets | 0.01% | 0.01%3 | 0.01%3 | 0.01% | 0.01% | 0.01% |
Ratio of Net Investment Income to Average Net Assets | 1.38% | 1.62% | 1.57% | 1.33% | 1.76% | 1.91% |
Portfolio Turnover Rate4 | 1% | 2% | 3% | 4% | 8% | 4% |
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 | 1,647,264,667 | 3,827 | 3,658 | 1,647,272,152 |
Preferred Stocks | — | — | — | — |
Rights | — | — | 6,157 | 6,157 |
Warrants | 1,812 | — | — | 1,812 |
Temporary Cash Investments | 6,288,269 | — | — | 6,288,269 |
Total | 1,653,554,748 | 3,827 | 9,815 | 1,653,568,390 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 9,619 | — | — | 9,619 |
Swap Contracts | — | 822 | — | 822 |
Total | 9,619 | 822 | — | 10,441 |
Liabilities | ||||
Swap Contracts | — | 17,215 | — | 17,215 |
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 | 726,449,580 |
Gross Unrealized Appreciation | 980,288,113 |
Gross Unrealized Depreciation | (53,176,077) |
Net Unrealized Appreciation (Depreciation) | 927,112,036 |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 52,447 | 434 | 317,778 | 3,167 | |
Issued in Lieu of Cash Distributions | 139,591 | 1,090 | 289,384 | 2,758 | |
Redeemed | (1,622,123) | (13,152) | (2,846,605) | (26,651) | |
Net Increase (Decrease)—Investor Shares | (1,430,085) | (11,628) | (2,239,443) | (20,726) |
Six Months Ended June 30, 2024 | Year Ended December 31, 2023 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
ETF Shares | |||||
Issued | 37,085,461 | 145,678 | 52,502,894 | 241,918 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (21,987,346) | (85,700) | (30,606,782) | (140,400) | |
Net Increase (Decrease)—ETF Shares | 15,098,115 | 59,978 | 21,896,112 | 101,518 | |
Admiral Shares | |||||
Issued | 17,116,187 | 139,567 | 26,313,081 | 254,268 | |
Issued in Lieu of Cash Distributions | 2,200,621 | 17,185 | 4,050,962 | 38,521 | |
Redeemed | (20,817,486) | (169,383) | (30,472,428) | (293,822) | |
Net Increase (Decrease)—Admiral Shares | (1,500,678) | (12,631) | (108,385) | (1,033) | |
Institutional Shares | |||||
Issued | 5,069,500 | 41,511 | 7,372,614 | 71,232 | |
Issued in Lieu of Cash Distributions | 506,463 | 3,955 | 949,403 | 9,031 | |
Redeemed | (6,610,423) | (53,642) | (9,640,455) | (92,509) | |
Net Increase (Decrease)—Institutional Shares | (1,034,460) | (8,176) | (1,318,438) | (12,246) | |
Institutional Plus Shares | |||||
Issued | 13,909,827 | 60,650 | 35,342,057 | 188,265 | |
Issued in Lieu of Cash Distributions | 4,643,320 | 19,328 | 8,750,147 | 44,372 | |
Redeemed | (28,731,164) | (124,297) | (44,280,634) | (224,992) | |
Net Increase (Decrease)—Institutional Plus Shares | (10,178,017) | (44,319) | (188,430) | 7,645 | |
Institutional Select Shares | |||||
Issued | 14,745,213 | 60,422 | 15,363,880 | 73,855 | |
Issued in Lieu of Cash Distributions | 500,650 | 1,986 | 811,797 | 3,913 | |
Redeemed | (11,621,696) | (47,715) | (10,375,113) | (49,312) | |
Net Increase (Decrease)—Institutional Select Shares | 3,624,167 | 14,693 | 5,800,564 | 28,456 |
Current Period Transactions | ||||||||
Dec. 31, 2023 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, 2024 Market Value ($000) | |
1895 Bancorp of Wisconsin Inc. | 2,291 | — | — | — | 418 | — | — | 2,709 |
Vanguard Market Liquidity Fund | 5,979,482 | NA1 | NA1 | (216) | 552 | 76,071 | — | 6,288,269 |
Total | 5,981,773 | — | — | (216) | 970 | 76,071 | — | 6,290,978 |
1 | Not applicable—purchases and sales are for temporary cash investment purposes. |
Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.
Item 9: Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.
Item 10: Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
Not applicable.
Item 11: Statement Regarding Basis for Approval of Investment Advisory Contracts.
Trustees Approve Advisory Arrangements – U.S. Stock Index Mid-Cap Funds
The board of trustees of Vanguard Extended Market Index Fund, Vanguard Mid-Cap Index Fund, Vanguard Mid-Cap Growth Index Fund, and Vanguard Mid-Cap Value Index Fund has renewed each fund’s investment advisory arrangement with The Vanguard Group, Inc. (Vanguard), through its Equity Index Group. The board determined that continuing each fund’s internalized management structure was in the best interests of the fund and its shareholders.
The board based its decisions upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The Portfolio Review Department met regularly with the advisor and made presentations to the board during the fiscal year that directed the board’s focus to relevant information and topics.
The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations conducted by the Portfolio Review Department. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.
In addition, the board received periodic reports throughout the year, which included information about the portfolio’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Portfolio Review Department’s ongoing assessment of the advisor.
Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board’s decisions.
Nature, extent, and quality of services
The board reviewed the quality of each fund’s investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than four decades. The Equity Index Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.
The board concluded that Vanguard’s experience, stability, depth, and performance, among other factors, warranted continuation of each advisory arrangement.
Investment performance
The board considered the short- and long-term performance of each fund, including any periods of outperformance or underperformance compared with its target index and peer group. The board concluded that the performance was such that each advisory arrangement should continue.
Cost
The board concluded that each fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that each fund’s advisory expenses were also below the peer-group average.
The board does not conduct a profitability analysis of Vanguard because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The board concluded that the funds’ arrangements with Vanguard ensure that the funds will realize economies of scale as they grow, with the cost to shareholders declining as fund assets increase.
The board will consider whether to renew the advisory arrangements again after a one-year period.
Trustees Approve Advisory Arrangements – U.S. Stock Index Small-Cap Funds
The board of trustees of Vanguard Small-Cap Index Fund, Vanguard Small-Cap Growth Index Fund, and Vanguard Small-Cap Value Index Fund has renewed each fund’s investment advisory arrangement with The Vanguard Group, Inc. (Vanguard), through its Equity Index Group. The board determined that continuing each fund’s internalized management structure was in the best interests of the fund and its shareholders.
The board based its decisions upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The Portfolio Review Department met regularly with the advisor and made presentations to the board during the fiscal year that directed the board’s focus to relevant information and topics.
The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations conducted by the Portfolio Review Department. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.
In addition, the board received periodic reports throughout the year, which included information about the portfolio’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Portfolio Review Department’s ongoing assessment of the advisor.
Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board’s decisions.
Nature, extent, and quality of services
The board reviewed the quality of each fund’s investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than four decades. The Equity Index Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.
The board concluded that Vanguard’s experience, stability, depth, and performance, among other factors, warranted continuation of each advisory arrangement.
Investment performance
The board considered the short- and long-term performance of each fund, including any periods of outperformance or underperformance compared with its target index and peer group. The board concluded that the performance was such that each advisory arrangement should continue.
Cost
The board concluded that each fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that each fund’s advisory expenses were also below the peer-group average.
The board does not conduct a profitability analysis of Vanguard because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The board concluded that the funds’ arrangements with Vanguard ensure that the funds will realize economies of scale as they grow, with the cost to shareholders declining as fund assets increase.
The board will consider whether to renew the advisory arrangements again after a one-year period.
Trustees Approve Advisory Arrangement – Total Stock Market Index Fund
The board of trustees of Vanguard Total Stock Market Index Fund has renewed the fund’s investment advisory arrangement with The Vanguard Group, Inc. (Vanguard), through its Equity Index Group. The board determined that continuing the fund’s internalized management structure was in the best interests of the fund and its shareholders.
The board based its decision upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The Portfolio Review Department met regularly with the advisor and made presentations to the board during the fiscal year that directed the board’s focus to relevant information and topics.
The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations conducted by the Portfolio Review Department. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.
In addition, the board received periodic reports throughout the year, which included information about the portfolio’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Portfolio Review Department’s ongoing assessment of the advisor.
Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangement. Rather, it was the totality of the circumstances that drove the board’s decision.
Nature, extent, and quality of services
The board reviewed the quality of the fund’s investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than four decades. The Equity Index Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.
The board concluded that Vanguard’s experience, stability, depth, and performance, among other factors, warranted continuation of the advisory arrangement.
Investment performance
The board considered the short- and long-term performance of the fund, including any periods of outperformance or underperformance compared with its target index and peer group. The board concluded that the performance was such that the advisory arrangement should continue.
Cost
The board concluded that the fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that the fund’s advisory expenses were also below the peer-group average.
The board does not conduct a profitability analysis of Vanguard because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The board concluded that the fund’s arrangement with Vanguard ensures that the fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.
The board will consider whether to renew the advisory arrangement again after a one-year period.
Item 12: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 13: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 14: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 15: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 16: 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. In February 2024, a third-party service provider began performing security pricing services for the Registrant. There were no other changes in the Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control during the period covered by this report, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 17: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 18: Recovery of Erroneously Awarded Compensation.
Not applicable.
Item 19: Exhibits.
(a)(1) | Not applicable. | |
(a)(2) | Certifications filed herewith. | |
(a)(2) | 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/ SALIM RAMJI* | |
SALIM RAMJI | ||
CHIEF EXECUTIVE OFFICER |
Date: August 21, 2024
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/ SALIM RAMJI* | |
SALIM RAMJI | ||
CHIEF EXECUTIVE OFFICER | ||
Date: August 21, 2024 | ||
VANGUARD INDEX FUNDS | ||
BY: | /s/ CHRISTINE BUCHANAN* | |
CHRISTINE BUCHANAN | ||
CHIEF FINANCIAL OFFICER | ||
Date: August 21, 2024 | ||
* By: | /s/ John E. Schadl |
John E. Schadl, pursuant to a Power of Attorney filed on July 25, 2024 (see File Number 33-48863), Incorporated by Reference.