Common Stocks - 98.4% |
| | Shares | Value ($) |
COMMUNICATION SERVICES - 9.5% | | | |
Diversified Telecommunication Services - 0.0% | | | |
Verizon Communications, Inc. | | 7,213 | 288,664 |
Entertainment - 1.1% | | | |
Netflix, Inc. (a) | | 291,259 | 175,605,876 |
Roblox Corp. (a) | | 179,603 | 7,166,160 |
Roku, Inc. Class A (a) | | 147,172 | 9,298,327 |
The Walt Disney Co. | | 89,408 | 9,976,145 |
| | | 202,046,508 |
Interactive Media & Services - 8.0% | | | |
Alphabet, Inc.: | | | |
Class A (a) | | 4,191,556 | 580,362,844 |
Class C (a) | | 1,803,640 | 252,112,799 |
Epic Games, Inc. (a)(b)(c) | | 5,000 | 3,430,300 |
Meta Platforms, Inc. Class A | | 1,255,989 | 615,597,889 |
Snap, Inc. Class A (a) | | 2,234,134 | 24,620,157 |
| | | 1,476,123,989 |
Media - 0.0% | | | |
Comcast Corp. Class A | | 42,658 | 1,827,895 |
The Trade Desk, Inc. (a) | | 24,017 | 2,051,772 |
| | | 3,879,667 |
Wireless Telecommunication Services - 0.4% | | | |
T-Mobile U.S., Inc. | | 431,908 | 70,530,576 |
TOTAL COMMUNICATION SERVICES | | | 1,752,869,404 |
CONSUMER DISCRETIONARY - 17.9% | | | |
Automobiles - 1.1% | | | |
Rad Power Bikes, Inc. (a)(b)(c) | | 171,416 | 73,709 |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | | 280,502 | 661,985 |
Rivian Automotive, Inc. (a)(d) | | 2,629,505 | 29,765,997 |
Tesla, Inc. (a) | | 861,292 | 173,877,629 |
| | | 204,379,320 |
Broadline Retail - 6.1% | | | |
Amazon.com, Inc. (a) | | 5,895,529 | 1,042,093,706 |
Etsy, Inc. (a) | | 32,085 | 2,300,174 |
Ollie's Bargain Outlet Holdings, Inc. (a) | | 841,749 | 67,483,017 |
Ozon Holdings PLC ADR (a)(c)(d) | | 6,684 | 88,229 |
PDD Holdings, Inc. ADR (a) | | 46,268 | 5,762,217 |
| | | 1,117,727,343 |
Diversified Consumer Services - 0.0% | | | |
Duolingo, Inc. (a) | | 14,559 | 3,479,601 |
Hotels, Restaurants & Leisure - 1.2% | | | |
Airbnb, Inc. Class A (a) | | 82,434 | 12,980,882 |
Booking Holdings, Inc. | | 24,324 | 84,375,821 |
Chipotle Mexican Grill, Inc. (a) | | 15,306 | 41,154,314 |
Dutch Bros, Inc. (a) | | 241,542 | 7,036,118 |
Expedia, Inc. (a) | | 76,003 | 10,398,730 |
Marriott International, Inc. Class A | | 123,292 | 30,806,972 |
McDonald's Corp. | | 886 | 258,960 |
Penn Entertainment, Inc. (a) | | 758,952 | 13,888,822 |
Shake Shack, Inc. Class A (a) | | 20,317 | 2,160,103 |
Sonder Holdings, Inc.: | | | |
Stage 1 rights (a)(c) | | 5,104 | 51 |
Stage 2 rights (a)(c) | | 5,104 | 0 |
Stage 3 rights (a)(c) | | 5,104 | 0 |
Stage 4 rights (a)(c) | | 5,104 | 0 |
Stage 5: | | | |
rights (a)(c) | | 5,103 | 0 |
rights (a)(c) | | 5,102 | 0 |
Starbucks Corp. | | 130,124 | 12,348,768 |
Sweetgreen, Inc. Class A (a) | | 301,405 | 3,839,900 |
Zomato Ltd. (a) | | 1,275,000 | 2,544,770 |
| | | 221,794,211 |
Household Durables - 0.4% | | | |
Garmin Ltd. | | 99,601 | 13,680,197 |
Lennar Corp. Class A | | 342,928 | 54,357,517 |
Purple Innovation, Inc. (d) | | 1,095,007 | 2,036,713 |
SharkNinja Hong Kong Co. Ltd. | | 70,994 | 3,833,676 |
Toll Brothers, Inc. | | 53,653 | 6,150,780 |
| | | 80,058,883 |
Specialty Retail - 2.7% | | | |
Abercrombie & Fitch Co. Class A (a) | | 73,929 | 9,445,169 |
Dick's Sporting Goods, Inc. | | 55,170 | 9,814,191 |
Fanatics, Inc. Class A (a)(b)(c) | | 204,775 | 14,663,938 |
Five Below, Inc. (a) | | 39,129 | 7,852,408 |
Floor & Decor Holdings, Inc. Class A (a) | | 105,015 | 12,719,417 |
Foot Locker, Inc. | | 223,553 | 7,696,930 |
Lowe's Companies, Inc. | | 300,210 | 72,251,541 |
Revolve Group, Inc. (a)(d) | | 674,154 | 14,784,197 |
RH (a) | | 12,680 | 3,479,392 |
Ross Stores, Inc. | | 118,745 | 17,688,255 |
RumbleON, Inc. Class B (a)(d) | | 183,445 | 1,392,348 |
The Home Depot, Inc. | | 337,320 | 128,387,365 |
TJX Companies, Inc. | | 1,156,055 | 114,611,293 |
Wayfair LLC Class A (a)(d) | | 1,309,215 | 78,029,214 |
| | | 492,815,658 |
Textiles, Apparel & Luxury Goods - 6.4% | | | |
Birkenstock Holding PLC (d) | | 95,826 | 4,792,258 |
Canada Goose Holdings, Inc. (a)(d) | | 459,573 | 6,261,286 |
Crocs, Inc. (a) | | 71,302 | 8,716,670 |
Deckers Outdoor Corp. (a) | | 231,559 | 207,381,925 |
Figs, Inc. Class A (a)(d) | | 124,308 | 650,131 |
Li Ning Co. Ltd. | | 502,393 | 1,252,534 |
lululemon athletica, Inc. (a) | | 1,533,183 | 716,134,447 |
NIKE, Inc. Class B | | 297,685 | 30,938,402 |
On Holding AG (a)(d) | | 1,670,599 | 58,504,377 |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | | 2,266,232 | 140,075,800 |
| | | 1,174,707,830 |
TOTAL CONSUMER DISCRETIONARY | | | 3,294,962,846 |
CONSUMER STAPLES - 2.9% | | | |
Beverages - 1.2% | | | |
Celsius Holdings, Inc. (a)(d) | | 338,883 | 27,659,630 |
Constellation Brands, Inc. Class A (sub. vtg.) | | 11,329 | 2,815,483 |
Keurig Dr. Pepper, Inc. | | 678,339 | 20,289,119 |
Monster Beverage Corp. | | 955,815 | 56,488,667 |
PepsiCo, Inc. | | 223,523 | 36,957,293 |
The Coca-Cola Co. | | 1,283,914 | 77,060,518 |
| | | 221,270,710 |
Consumer Staples Distribution & Retail - 0.9% | | | |
Costco Wholesale Corp. | | 116,026 | 86,310,581 |
Dollar General Corp. | | 42,544 | 6,182,069 |
Dollar Tree, Inc. (a) | | 33,143 | 4,861,415 |
Kroger Co. | | 221,583 | 10,992,733 |
Maplebear, Inc. (NASDAQ) | | 26,388 | 858,666 |
Target Corp. | | 163,278 | 24,968,472 |
Walmart, Inc. | | 369,915 | 21,680,718 |
| | | 155,854,654 |
Food Products - 0.2% | | | |
Bowery Farming, Inc. warrants (a)(b)(c) | | 14,709 | 60,748 |
Bunge Global SA | | 163,071 | 15,389,010 |
Kellanova | | 46,809 | 2,581,516 |
Mondelez International, Inc. | | 95,258 | 6,960,502 |
The Hershey Co. | | 46,645 | 8,765,528 |
The Real Good Food Co. LLC: | | | |
Class B (a)(c) | | 149,688 | 2 |
Class B unit (a)(e) | | 149,688 | 173,638 |
The Real Good Food Co., Inc. (a) | | 183,251 | 212,571 |
WK Kellogg Co. | | 36,201 | 529,983 |
| | | 34,673,498 |
Household Products - 0.2% | | | |
Church & Dwight Co., Inc. | | 62,842 | 6,291,741 |
Colgate-Palmolive Co. | | 33,166 | 2,869,522 |
Procter & Gamble Co. | | 179,886 | 28,591,081 |
The Clorox Co. | | 24,277 | 3,721,907 |
| | | 41,474,251 |
Personal Care Products - 0.1% | | | |
elf Beauty, Inc. (a) | | 49,002 | 10,218,387 |
Kenvue, Inc. | | 131,293 | 2,494,567 |
Oddity Tech Ltd. (e) | | 57,026 | 2,405,357 |
Oddity Tech Ltd. (d) | | 33,662 | 1,419,863 |
Olaplex Holdings, Inc. (a) | | 170,532 | 317,190 |
The Beauty Health Co. (a)(d) | | 1,565,510 | 5,213,148 |
The Beauty Health Co. (a)(b) | | 428,643 | 1,427,381 |
| | | 23,495,893 |
Tobacco - 0.3% | | | |
JUUL Labs, Inc. Class A (a)(b)(c)(f) | | 2,686,353 | 2,874,398 |
Philip Morris International, Inc. | | 654,368 | 58,866,945 |
| | | 61,741,343 |
TOTAL CONSUMER STAPLES | | | 538,510,349 |
ENERGY - 0.7% | | | |
Energy Equipment & Services - 0.1% | | | |
Baker Hughes Co. Class A | | 210,473 | 6,227,896 |
Halliburton Co. | | 452,299 | 15,862,126 |
| | | 22,090,022 |
Oil, Gas & Consumable Fuels - 0.6% | | | |
Cameco Corp. | | 661,121 | 26,795,234 |
EOG Resources, Inc. | | 9,384 | 1,074,093 |
EQT Corp. | | 137,932 | 5,124,174 |
Hess Corp. | | 114,801 | 16,732,246 |
Range Resources Corp. | | 810,068 | 25,614,350 |
Reliance Industries Ltd. | | 506,346 | 17,845,955 |
Valero Energy Corp. | | 60,121 | 8,504,717 |
| | | 101,690,769 |
TOTAL ENERGY | | | 123,780,791 |
FINANCIALS - 3.1% | | | |
Banks - 0.5% | | | |
Bank of America Corp. | | 817,912 | 28,234,322 |
HDFC Bank Ltd. sponsored ADR | | 417,497 | 22,336,090 |
JPMorgan Chase & Co. | | 123,206 | 22,923,708 |
Wells Fargo & Co. | | 201,501 | 11,201,441 |
| | | 84,695,561 |
Capital Markets - 0.3% | | | |
3i Group PLC | | 124,088 | 3,876,890 |
BlackRock, Inc. Class A | | 43,441 | 35,245,421 |
Coinbase Global, Inc. (a) | | 75,334 | 15,334,989 |
| | | 54,457,300 |
Financial Services - 2.3% | | | |
Adimab LLC (b)(c)(g) | | 196,899 | 3,762,740 |
Block, Inc. Class A (a) | | 102,596 | 8,153,304 |
Jio Financial Services Ltd. | | 672,846 | 2,516,222 |
MasterCard, Inc. Class A | | 381,074 | 180,918,692 |
PayPal Holdings, Inc. (a) | | 181,586 | 10,956,899 |
Saluda Medical, Inc. warrants 1/20/27 (a)(b)(c) | | 23,230 | 70,852 |
Toast, Inc. (a)(d) | | 658,720 | 15,150,560 |
Visa, Inc. Class A | | 748,749 | 211,626,417 |
| | | 433,155,686 |
Insurance - 0.0% | | | |
Progressive Corp. | | 19,100 | 3,620,596 |
TOTAL FINANCIALS | | | 575,929,143 |
HEALTH CARE - 13.4% | | | |
Biotechnology - 7.4% | | | |
4D Molecular Therapeutics, Inc. (a) | | 71,200 | 1,995,024 |
4D Pharma PLC (a)(c)(d) | | 1,121,955 | 235,946 |
AbbVie, Inc. | | 136,864 | 24,094,907 |
Absci Corp. (a)(d) | | 1,572,343 | 8,113,290 |
ACADIA Pharmaceuticals, Inc. (a) | | 521,661 | 12,123,402 |
Acelyrin, Inc. | | 184,480 | 1,558,856 |
Akouos, Inc. (CVR) (a)(c) | | 338,256 | 280,752 |
Alector, Inc. (a) | | 1,273,701 | 8,877,696 |
Allogene Therapeutics, Inc. (a) | | 1,313,495 | 6,449,260 |
Alnylam Pharmaceuticals, Inc. (a) | | 457,498 | 69,123,373 |
Amgen, Inc. | | 120,104 | 32,888,078 |
Annexon, Inc. (a) | | 549,442 | 3,060,392 |
Apellis Pharmaceuticals, Inc. (a) | | 95,964 | 5,946,889 |
Apogee Therapeutics, Inc. (d) | | 323,625 | 11,268,623 |
Arcellx, Inc. (a) | | 16,000 | 1,053,120 |
Argenx SE ADR (a) | | 195,662 | 74,353,517 |
Arrowhead Pharmaceuticals, Inc. (a) | | 185,963 | 5,969,412 |
Ascendis Pharma A/S sponsored ADR (a) | | 17,723 | 2,618,750 |
aTyr Pharma, Inc. (a) | | 822,503 | 1,579,206 |
Avidity Biosciences, Inc. (a) | | 823,876 | 15,076,931 |
Avidity Biosciences, Inc. (b) | | 193,700 | 3,196,050 |
AVROBIO, Inc. (b)(c)(f) | | 176,989 | 2,194,501 |
Beam Therapeutics, Inc. (a)(d) | | 296,250 | 11,698,913 |
BeiGene Ltd. ADR (a)(d) | | 157,697 | 26,122,508 |
Biomea Fusion, Inc. (a)(d) | | 629,479 | 11,015,883 |
BioNTech SE ADR (a) | | 24,353 | 2,166,443 |
BioXcel Therapeutics, Inc. (a)(d) | | 316,746 | 1,007,252 |
Cargo Therapeutics, Inc. | | 141,526 | 3,422,099 |
Caris Life Sciences, Inc. (a)(b)(c) | | 362,791 | 1,012,187 |
Century Therapeutics, Inc. (a)(d) | | 555,033 | 2,036,971 |
Cerevel Therapeutics Holdings (a) | | 379,564 | 15,562,124 |
Cibus, Inc. (a)(d) | | 269,940 | 4,707,754 |
Codiak Biosciences, Inc. warrants 9/15/27 (a)(c) | | 95,000 | 1 |
CRISPR Therapeutics AG (a)(d) | | 235,568 | 19,839,537 |
Cyclerion Therapeutics, Inc. (a) | | 9,534 | 30,032 |
Day One Biopharmaceuticals, Inc. (a)(d) | | 294,386 | 4,925,078 |
Denali Therapeutics, Inc. (a) | | 6,070 | 120,065 |
Dianthus Therapeutics, Inc. (a) | | 80,342 | 1,988,465 |
Dianthus Therapeutics, Inc. (unlisted) (b) | | 181,889 | 4,276,665 |
Disc Medicine, Inc. rights (a)(c) | | 50,893 | 1 |
Dyne Therapeutics, Inc. (a) | | 176,900 | 4,758,610 |
Foghorn Therapeutics, Inc. (a)(d) | | 290,298 | 2,244,004 |
Generation Bio Co. (a) | | 503,195 | 1,263,019 |
Geron Corp. (a) | | 600,357 | 1,200,714 |
Ideaya Biosciences, Inc. (a) | | 896,500 | 40,073,550 |
Idorsia Ltd. (a)(d) | | 195,473 | 493,352 |
Immunocore Holdings PLC ADR (a) | | 225,991 | 15,191,115 |
Immunome, Inc. (a)(d) | | 443,152 | 10,724,278 |
Immunovant, Inc. (a) | | 812,438 | 28,735,932 |
Invivyd, Inc. (a) | | 690,823 | 2,714,934 |
Ionis Pharmaceuticals, Inc. (a)(d) | | 2,419,506 | 109,385,866 |
Janux Therapeutics, Inc. (a) | | 350,687 | 16,966,237 |
Korro Bio, Inc. (m) | | 36,539 | 1,676,592 |
Korro Bio, Inc. (b) | | 21,489 | 1,037,919 |
Krystal Biotech, Inc. (a) | | 212,235 | 33,845,115 |
Kymera Therapeutics, Inc. (a) | | 317,762 | 13,568,437 |
Legend Biotech Corp. ADR (a) | | 655,247 | 42,695,895 |
Lyell Immunopharma, Inc. (a) | | 325,642 | 950,875 |
Moderna, Inc. (a) | | 362,760 | 33,460,982 |
Monte Rosa Therapeutics, Inc. (a) | | 256,970 | 1,626,620 |
Moonlake Immunotherapeutics (a)(d) | | 81,873 | 3,949,554 |
Morphic Holding, Inc. (a) | | 466,178 | 17,225,277 |
Nuvalent, Inc. Class A (a) | | 602,134 | 50,651,512 |
Omega Therapeutics, Inc. (a)(d) | | 755,934 | 3,106,889 |
ORIC Pharmaceuticals, Inc. (a)(d) | | 275,290 | 3,507,195 |
Poseida Therapeutics, Inc. (a) | | 1,156,573 | 4,580,029 |
Prothena Corp. PLC (a) | | 823,660 | 22,724,779 |
RAPT Therapeutics, Inc. (a) | | 482,252 | 4,132,900 |
Recursion Pharmaceuticals, Inc. (a)(d) | | 635,386 | 8,552,296 |
Regeneron Pharmaceuticals, Inc. (a) | | 88,592 | 85,587,845 |
Relay Therapeutics, Inc. (a) | | 212,417 | 2,128,418 |
Revolution Medicines, Inc. (a) | | 352,312 | 10,386,158 |
Roivant Sciences Ltd. (a) | | 3,492,724 | 39,956,763 |
Sage Therapeutics, Inc. (a) | | 548,067 | 11,772,479 |
Sagimet Biosciences, Inc. (d) | | 68,054 | 417,171 |
Sana Biotechnology, Inc. (a)(d) | | 1,446,327 | 14,521,123 |
Scholar Rock Holding Corp. (a) | | 704,345 | 10,917,348 |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(b) | | 39,325 | 357,647 |
Seres Therapeutics, Inc. (a)(d) | | 2,156,475 | 2,458,382 |
Shattuck Labs, Inc. (a) | | 583,260 | 5,091,860 |
Sigilon Therapeutics, Inc. rights (a)(c) | | 8,716 | 65,980 |
SpringWorks Therapeutics, Inc. (a)(d) | | 1,201,404 | 59,181,161 |
Spyre Therapeutics, Inc. (b) | | 116,531 | 3,037,730 |
Spyre Therapeutics, Inc. (a) | | 212,577 | 5,833,113 |
Summit Therapeutics, Inc. (a)(d) | | 145,400 | 660,116 |
Tango Therapeutics, Inc. (a) | | 395,249 | 4,399,121 |
Tango Therapeutics, Inc. (b) | | 166,072 | 1,848,381 |
Taysha Gene Therapies, Inc. (a) | | 1,459,758 | 4,612,835 |
Tourmaline Bio, Inc. | | 25,148 | 976,245 |
Turnstone Biologics Corp. | | 71,605 | 326,519 |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | | 718,049 | 6,719 |
Vaxcyte, Inc. (a) | | 365,204 | 26,959,359 |
Vera Therapeutics, Inc. (a) | | 248,082 | 11,679,701 |
Vertex Pharmaceuticals, Inc. (a) | | 82,226 | 34,595,767 |
Verve Therapeutics, Inc. (a)(d) | | 137,415 | 2,342,926 |
Viking Therapeutics, Inc. (a) | | 1,246,075 | 96,010,079 |
Vor Biopharma, Inc. (a) | | 514,504 | 1,183,359 |
WuXi XDC Cayman, Inc. | | 140,755 | 327,191 |
Zai Lab Ltd. ADR (a)(d) | | 122,906 | 2,578,568 |
Zealand Pharma A/S (a) | | 243,286 | 23,423,752 |
Zentalis Pharmaceuticals, Inc. (a) | | 284,017 | 4,234,693 |
| | | 1,350,912,939 |
Health Care Equipment & Supplies - 1.0% | | | |
Abbott Laboratories | | 26,886 | 3,189,755 |
Blink Health LLC Series A1 (a)(b)(c) | | 65,933 | 3,126,543 |
Boston Scientific Corp. (a) | | 40,792 | 2,700,838 |
DexCom, Inc. (a) | | 75,730 | 8,714,251 |
Inspire Medical Systems, Inc. (a) | | 18,357 | 3,286,637 |
Insulet Corp. (a) | | 90,398 | 14,825,272 |
Intuitive Surgical, Inc. (a) | | 199,465 | 76,913,704 |
Medical Microinstruments, Inc. warrants 2/16/31 (a)(b)(c) | | 3,611 | 0 |
Novocure Ltd. (a) | | 1,816,999 | 27,818,255 |
Outset Medical, Inc. (a) | | 431,848 | 1,360,321 |
Penumbra, Inc. (a) | | 7,057 | 1,657,830 |
Presbia PLC (a)(c) | | 96,997 | 1 |
PROCEPT BioRobotics Corp. (a) | | 482,233 | 23,311,143 |
Shockwave Medical, Inc. (a) | | 80,014 | 20,873,252 |
| | | 187,777,802 |
Health Care Providers & Services - 0.9% | | | |
Alignment Healthcare, Inc. (a) | | 442,783 | 2,656,698 |
Guardant Health, Inc. (a) | | 145,008 | 2,755,152 |
Humana, Inc. | | 17,156 | 6,010,090 |
McKesson Corp. | | 31,756 | 16,557,896 |
The Oncology Institute, Inc. (a)(b) | | 446,788 | 839,961 |
UnitedHealth Group, Inc. | | 279,474 | 137,948,366 |
| | | 166,768,163 |
Health Care Technology - 0.0% | | | |
DNA Script (a)(b)(c) | | 115 | 12,931 |
DNA Script (a)(b)(c) | | 439 | 49,407 |
| | | 62,338 |
Life Sciences Tools & Services - 0.4% | | | |
10X Genomics, Inc. (a) | | 600,565 | 28,010,352 |
Danaher Corp. | | 34,629 | 8,765,985 |
Gerresheimer AG | | 21,332 | 2,499,230 |
Thermo Fisher Scientific, Inc. | | 42,516 | 24,241,773 |
WuXi AppTec Co. Ltd. (H Shares) (e) | | 339,282 | 2,110,356 |
Wuxi Biologics (Cayman), Inc. (a)(e) | | 2,288,201 | 5,419,853 |
| | | 71,047,549 |
Pharmaceuticals - 3.7% | | | |
Adimab LLC (a)(b)(c)(g) | | 196,899 | 1,256,216 |
Agomab Therapeutics SA warrants 10/10/33 (a)(c) | | 10 | 0 |
Alto Neuroscience, Inc. | | 127,000 | 1,955,800 |
Arvinas Holding Co. LLC (a) | | 58,341 | 2,682,519 |
Atea Pharmaceuticals, Inc. (a) | | 682,070 | 2,939,722 |
Bristol-Myers Squibb Co. | | 129,656 | 6,580,042 |
Dragonfly Therapeutics, Inc. (a)(b)(c) | | 31,376 | 569,161 |
Eli Lilly & Co. | | 599,615 | 451,917,833 |
Fulcrum Therapeutics, Inc. (a) | | 444,767 | 4,541,071 |
GH Research PLC (a) | | 352,153 | 3,127,119 |
Harmony Biosciences Holdings, Inc. (a)(d) | | 555,570 | 17,833,797 |
Intra-Cellular Therapies, Inc. (a) | | 989,136 | 68,764,735 |
Merck & Co., Inc. | | 56,773 | 7,218,687 |
Neumora Therapeutics, Inc. (d) | | 156,446 | 2,758,143 |
Novo Nordisk A/S Series B sponsored ADR | | 461,081 | 55,223,671 |
Nuvation Bio, Inc. (a) | | 2,412,933 | 4,512,185 |
OptiNose, Inc. (a) | | 1,659,373 | 2,953,684 |
OptiNose, Inc. warrants (a) | | 233,127 | 126,802 |
Pfizer, Inc. | | 26,966 | 716,217 |
Pharvaris BV (a) | | 257,919 | 5,916,662 |
Pliant Therapeutics, Inc. (a)(d) | | 478,795 | 7,598,477 |
Sienna Biopharmaceuticals, Inc. (a)(c) | | 406,323 | 4 |
Skyhawk Therapeutics, Inc. (a)(b)(c) | | 127,580 | 1,465,894 |
Structure Therapeutics, Inc. ADR | | 31,587 | 1,281,485 |
UCB SA | | 279,280 | 32,146,580 |
| | | 684,086,506 |
TOTAL HEALTH CARE | | | 2,460,655,297 |
INDUSTRIALS - 4.0% | | | |
Aerospace & Defense - 0.5% | | | |
AeroVironment, Inc. (a) | | 34,551 | 4,380,721 |
Lockheed Martin Corp. | | 42,797 | 18,327,387 |
Space Exploration Technologies Corp. Class A (a)(b)(c) | | 324,714 | 31,497,258 |
The Boeing Co. (a) | | 130,649 | 26,615,814 |
| | | 80,821,180 |
Air Freight & Logistics - 0.0% | | | |
Delhivery Private Ltd. (a) | | 486,000 | 2,773,709 |
United Parcel Service, Inc. Class B | | 22,914 | 3,397,230 |
| | | 6,170,939 |
Building Products - 0.0% | | | |
Builders FirstSource, Inc. (a) | | 20,200 | 3,942,636 |
Commercial Services & Supplies - 0.0% | | | |
Veralto Corp. | | 11,313 | 977,669 |
Construction & Engineering - 0.2% | | | |
Fluor Corp. (a) | | 491,391 | 18,083,189 |
Quanta Services, Inc. | | 56,904 | 13,742,885 |
| | | 31,826,074 |
Electrical Equipment - 0.8% | | | |
Eaton Corp. PLC | | 294,822 | 85,203,558 |
Emerson Electric Co. | | 211,603 | 22,609,781 |
Fluence Energy, Inc. (a)(d) | | 9,327 | 142,610 |
Generac Holdings, Inc. (a) | | 144,332 | 16,238,793 |
Nextracker, Inc. Class A | | 50,984 | 2,867,340 |
NuScale Power Corp. (a)(d) | | 279,010 | 864,931 |
Schneider Electric SA | | 72,400 | 16,455,968 |
Vertiv Holdings Co. | | 142,042 | 9,604,880 |
| | | 153,987,861 |
Ground Transportation - 1.5% | | | |
Avis Budget Group, Inc. (d) | | 402,979 | 43,537,851 |
Bird Global, Inc.: | | | |
Stage 1 rights (a)(c) | | 1,095 | 0 |
Stage 2 rights (a)(c) | | 1,095 | 0 |
Stage 3 rights (a)(c) | | 1,095 | 0 |
Hertz Global Holdings, Inc. (a)(d) | | 75,629 | 593,688 |
Lyft, Inc. (a) | | 1,044,553 | 16,587,502 |
Old Dominion Freight Lines, Inc. | | 14,800 | 6,548,704 |
Uber Technologies, Inc. (a) | | 2,017,768 | 160,412,556 |
Union Pacific Corp. | | 152,134 | 38,594,874 |
| | | 266,275,175 |
Industrial Conglomerates - 0.1% | | | |
General Electric Co. | | 65,708 | 10,308,928 |
Honeywell International, Inc. | | 44,797 | 8,902,508 |
| | | 19,211,436 |
Machinery - 0.5% | | | |
Caterpillar, Inc. | | 137,576 | 45,944,881 |
Deere & Co. | | 68,993 | 25,185,895 |
Illinois Tool Works, Inc. | | 57,955 | 15,192,903 |
Ingersoll Rand, Inc. | | 81,505 | 7,443,852 |
| | | 93,767,531 |
Passenger Airlines - 0.4% | | | |
Delta Air Lines, Inc. | | 407,665 | 17,232,000 |
Ryanair Holdings PLC sponsored ADR | | 7,350 | 1,016,138 |
Southwest Airlines Co. | | 618,185 | 21,185,200 |
United Airlines Holdings, Inc. (a) | | 423,940 | 19,285,031 |
Wizz Air Holdings PLC (a)(e) | | 456,893 | 12,324,849 |
| | | 71,043,218 |
Professional Services - 0.0% | | | |
LegalZoom.com, Inc. (a) | | 220,069 | 2,728,856 |
Paylocity Holding Corp. (a) | | 26,350 | 4,442,874 |
| | | 7,171,730 |
TOTAL INDUSTRIALS | | | 735,195,449 |
INFORMATION TECHNOLOGY - 46.2% | | | |
Communications Equipment - 0.7% | | | |
Arista Networks, Inc. (a) | | 215,506 | 59,811,535 |
Ciena Corp. (a) | | 965,008 | 54,986,156 |
Infinera Corp. (a)(d) | | 4,175,126 | 20,959,133 |
| | | 135,756,824 |
Electronic Equipment, Instruments & Components - 0.0% | | | |
Coherent Corp. (a) | | 72,070 | 4,286,724 |
TE Connectivity Ltd. | | 3,657 | 524,999 |
| | | 4,811,723 |
IT Services - 1.7% | | | |
Accenture PLC Class A | | 135,455 | 50,765,825 |
Akamai Technologies, Inc. (a) | | 20,900 | 2,318,228 |
Cloudflare, Inc. (a)(d) | | 1,146,080 | 112,934,723 |
IBM Corp. | | 171,516 | 31,735,605 |
Kyndryl Holdings, Inc. (a) | | 93,300 | 2,049,801 |
MongoDB, Inc. Class A (a) | | 30,663 | 13,724,146 |
Okta, Inc. (a) | | 183,468 | 19,686,116 |
Shopify, Inc. Class A (a) | | 681,262 | 52,050,294 |
Snowflake, Inc. (a) | | 97,181 | 18,297,239 |
Twilio, Inc. Class A (a) | | 12,878 | 767,400 |
X Holdings Corp. Class A (b)(c) | | 26,890 | 721,997 |
| | | 305,051,374 |
Semiconductors & Semiconductor Equipment - 21.0% | | | |
Advanced Micro Devices, Inc. (a) | | 823,314 | 158,512,644 |
Allegro MicroSystems LLC (a) | | 86,778 | 2,732,639 |
Applied Materials, Inc. | | 438,793 | 88,469,445 |
Arm Holdings Ltd. ADR (d) | | 95,889 | 13,524,185 |
ASML Holding NV (depository receipt) | | 29,547 | 28,119,289 |
Broadcom, Inc. | | 50,377 | 65,514,785 |
Cirrus Logic, Inc. (a) | | 294,859 | 27,073,953 |
Enphase Energy, Inc. (a) | | 44,478 | 5,649,151 |
First Solar, Inc. (a) | | 235,545 | 36,248,020 |
GlobalFoundries, Inc. (a) | | 156,339 | 8,547,053 |
Impinj, Inc. (a) | | 191,115 | 20,873,580 |
Intel Corp. | | 8,813 | 379,400 |
KLA Corp. | | 63,674 | 43,444,770 |
Lam Research Corp. | | 23,071 | 21,646,366 |
Lattice Semiconductor Corp. (a) | | 76,634 | 5,870,931 |
Marvell Technology, Inc. | | 1,125,131 | 80,626,887 |
Micron Technology, Inc. | | 223,112 | 20,216,178 |
Monolithic Power Systems, Inc. | | 40,010 | 28,808,800 |
NVIDIA Corp. | | 3,785,558 | 2,994,830,637 |
ON Semiconductor Corp. (a) | | 281,352 | 22,204,300 |
Qualcomm, Inc. | | 165,574 | 26,125,921 |
Silicon Laboratories, Inc. (a) | | 577,299 | 79,401,704 |
SiTime Corp. (a) | | 196,751 | 18,199,468 |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | | 157,438 | 20,257,547 |
Teradyne, Inc. | | 83,421 | 8,641,581 |
Texas Instruments, Inc. | | 162,633 | 27,213,380 |
Wolfspeed, Inc. (a)(d) | | 130,073 | 3,384,499 |
Xsight Labs Ltd. warrants 1/11/34 (a)(b)(c) | | 24,668 | 45,142 |
| | | 3,856,562,255 |
Software - 14.5% | | | |
Adobe, Inc. (a) | | 242,355 | 135,786,659 |
ASAPP, Inc. warrants 8/28/28 (a)(b)(c) | | 351,555 | 826,154 |
Atlassian Corp. PLC (a) | | 11,234 | 2,330,156 |
Autodesk, Inc. (a) | | 121,043 | 31,249,671 |
Bill Holdings, Inc. (a) | | 33,131 | 2,098,186 |
Clear Secure, Inc. | | 616 | 11,858 |
Confluent, Inc. (a) | | 502,960 | 17,035,255 |
CoreWeave, Inc. (b)(c) | | 41,224 | 15,011,720 |
Crowdstrike Holdings, Inc. (a) | | 146,006 | 47,327,845 |
Datadog, Inc. Class A (a) | | 135,246 | 17,779,439 |
DocuSign, Inc. (a) | | 21,400 | 1,139,978 |
Elastic NV (a) | | 64,354 | 8,611,209 |
Freshworks, Inc. (a) | | 378,382 | 7,734,128 |
HubSpot, Inc. (a) | | 65,816 | 40,727,599 |
Intuit, Inc. | | 94,618 | 62,721,326 |
Microsoft Corp. | | 2,425,624 | 1,003,335,111 |
Nutanix, Inc. Class A (a) | | 4,221,235 | 266,613,203 |
Oracle Corp. | | 2,229,506 | 248,991,230 |
Palantir Technologies, Inc. (a) | | 365,911 | 9,177,048 |
Palo Alto Networks, Inc. (a) | | 119,983 | 37,260,721 |
PTC, Inc. (a) | | 5,121 | 937,194 |
RingCentral, Inc. (a) | | 37,909 | 1,266,919 |
Salesforce, Inc. | | 1,207,072 | 372,767,975 |
Samsara, Inc. (a) | | 129,004 | 4,457,088 |
SentinelOne, Inc. (a)(d) | | 79,888 | 2,250,445 |
ServiceNow, Inc. (a) | | 283,131 | 218,390,266 |
Stripe, Inc. Class B (a)(b)(c) | | 38,500 | 977,515 |
UiPath, Inc. Class A (a) | | 1,735,718 | 41,223,303 |
Workday, Inc. Class A (a) | | 72,461 | 21,351,358 |
Zoom Video Communications, Inc. Class A (a) | | 260,225 | 18,405,714 |
Zscaler, Inc. (a) | | 95,701 | 23,156,771 |
| | | 2,660,953,044 |
Technology Hardware, Storage & Peripherals - 8.3% | | | |
Apple, Inc. | | 6,969,985 | 1,259,824,789 |
Pure Storage, Inc. Class A (a) | | 4,880,762 | 256,972,119 |
Samsung Electronics Co. Ltd. (a) | | 89,935 | 4,943,204 |
Seagate Technology Holdings PLC | | 49,700 | 4,624,585 |
Super Micro Computer, Inc. (a) | | 2,400 | 2,078,688 |
| | | 1,528,443,385 |
TOTAL INFORMATION TECHNOLOGY | | | 8,491,578,605 |
MATERIALS - 0.5% | | | |
Chemicals - 0.2% | | | |
Albemarle Corp. (d) | | 48,454 | 6,679,384 |
Corteva, Inc. | | 340,015 | 18,197,603 |
Farmers Business Network, Inc. (a)(c) | | 9,829 | 21,329 |
Farmers Business Network, Inc. warrants 9/27/33 (a)(b)(c) | | 993,920 | 2,146,867 |
| | | 27,045,183 |
Metals & Mining - 0.3% | | | |
Barrick Gold Corp. (Canada) | | 469,909 | 6,852,226 |
Freeport-McMoRan, Inc. | | 1,374,377 | 51,965,194 |
| | | 58,817,420 |
TOTAL MATERIALS | | | 85,862,603 |
REAL ESTATE - 0.2% | | | |
Equity Real Estate Investment Trusts (REITs) - 0.2% | | | |
American Tower Corp. | | 90,188 | 17,934,786 |
Equinix, Inc. | | 7,700 | 6,843,914 |
| | | 24,778,700 |
TOTAL COMMON STOCKS (Cost $11,002,732,317) | | | 18,084,123,187 |
| | | |
Preferred Stocks - 1.5% |
| | Shares | Value ($) |
Convertible Preferred Stocks - 1.5% | | | |
COMMUNICATION SERVICES - 0.1% | | | |
Interactive Media & Services - 0.1% | | | |
ByteDance Ltd. Series E1 (a)(b)(c) | | 49,039 | 10,843,994 |
Reddit, Inc.: | | | |
Series E(a)(b)(c) | | 4,501 | 131,744 |
Series F(a)(b)(c) | | 88,486 | 2,589,985 |
| | | 13,565,723 |
CONSUMER DISCRETIONARY - 0.1% | | | |
Automobiles - 0.0% | | | |
Rad Power Bikes, Inc.: | | | |
Series A(a)(b)(c) | | 22,348 | 9,610 |
Series C(a)(b)(c) | | 87,936 | 65,073 |
Series D(a)(b)(c) | | 219,600 | 237,168 |
| | | 311,851 |
Broadline Retail - 0.0% | | | |
Meesho Series F (a)(b)(c) | | 66,982 | 3,422,110 |
| | | |
Hotels, Restaurants & Leisure - 0.0% | | | |
Discord, Inc. Series I (a)(b)(c) | | 1,400 | 351,876 |
| | | |
Textiles, Apparel & Luxury Goods - 0.1% | | | |
Canva, Inc.: | | | |
Series A(b)(c) | | 1,477 | 1,575,457 |
Series A2(b)(c) | | 268 | 285,865 |
Freenome, Inc.: | | | |
Series C(a)(b)(c) | | 141,369 | 999,479 |
Series D(a)(b)(c) | | 125,665 | 934,948 |
Laronde, Inc. Series B (a)(b)(c) | | 81,282 | 2,275,896 |
| | | 6,071,645 |
TOTAL CONSUMER DISCRETIONARY | | | 10,157,482 |
| | | |
CONSUMER STAPLES - 0.0% | | | |
Consumer Staples Distribution & Retail - 0.0% | | | |
GoBrands, Inc.: | | | |
Series G(a)(b)(c) | | 19,907 | 968,675 |
Series H(a)(b)(c) | | 20,720 | 1,269,100 |
| | | 2,237,775 |
Food Products - 0.0% | | | |
AgBiome LLC Series D (a)(b)(c) | | 511,821 | 179,137 |
Bowery Farming, Inc.: | | | |
Series C1(a)(b)(c) | | 27,155 | 216,154 |
Series D1(b)(c) | | 14,709 | 78,252 |
| | | 473,543 |
TOTAL CONSUMER STAPLES | | | 2,711,318 |
| | | |
FINANCIALS - 0.1% | | | |
Financial Services - 0.1% | | | |
Akeana Series C (b)(c) | | 113,800 | 1,447,536 |
Kartos Therapeutics, Inc. Series C (b)(c) | | 472,772 | 2,770,444 |
Paragon Biosciences Emalex Capital, Inc.: | | | |
Series C(a)(b)(c) | | 109,967 | 1,299,810 |
Series D1(a)(b)(c) | | 190,900 | 2,262,165 |
Series D2(a)(b)(c) | | 15,557 | 175,172 |
Saluda Medical, Inc.: | | | |
Series D(b)(c) | | 154,870 | 1,906,450 |
Series E(b)(c) | | 287,593 | 2,481,928 |
Tenstorrent Holdings, Inc. Series C1 (b)(c) | | 32,710 | 1,980,591 |
| | | 14,324,096 |
HEALTH CARE - 0.5% | | | |
Biotechnology - 0.4% | | | |
Altos Labs, Inc. Series B (a)(b)(c) | | 124,464 | 2,740,697 |
Ankyra Therapeutics Series B (a)(b)(c) | | 329,325 | 1,452,323 |
Asimov, Inc. Series B (a)(b)(c) | | 19,920 | 953,371 |
Bright Peak Therapeutics AG Series B (a)(b)(c) | | 282,257 | 468,547 |
Caris Life Sciences, Inc. Series D (a)(b)(c) | | 258,638 | 721,600 |
Castle Creek Biosciences, Inc.: | | | |
Series C(a)(b)(c) | | 582 | 135,653 |
Series D1(a)(b)(c) | | 4,476 | 944,078 |
Series D2(a)(b)(c) | | 1,254 | 235,163 |
Cellanome, Inc. Series B (b)(c) | | 400,974 | 2,995,276 |
Cleerly, Inc. Series C (a)(b)(c) | | 294,888 | 3,175,944 |
Deep Genomics, Inc. Series C (a)(b)(c) | | 155,443 | 1,702,101 |
Element Biosciences, Inc.: | | | |
Series B(a)(b)(c) | | 125,057 | 1,499,433 |
Series C(a)(b)(c) | | 114,255 | 1,369,917 |
ElevateBio LLC Series C (a)(b)(c) | | 247,600 | 859,172 |
Fog Pharmaceuticals, Inc.: | | | |
Series D(a)(b)(c) | | 272,597 | 1,665,568 |
Series E(b)(c) | | 202,540 | 1,261,824 |
Generate Biomedicines: | | | |
Series B(a)(b)(c) | | 191,856 | 2,273,494 |
Series C(b)(c) | | 105,751 | 1,253,149 |
Genesis Therapeutics, Inc. Series B (b)(c) | | 583,881 | 2,983,632 |
Inscripta, Inc.: | | | |
Series D(a)(b)(c) | | 277,957 | 761,602 |
Series E(a)(b)(c) | | 215,182 | 735,922 |
LifeMine Therapeutics, Inc. Series C (a)(b)(c) | | 1,759,782 | 3,642,749 |
National Resilience, Inc.: | | | |
Series B(a)(b)(c) | | 182,315 | 8,769,352 |
Series C(a)(b)(c) | | 74,748 | 3,595,379 |
Odyssey Therapeutics, Inc.: | | | |
Series B(a)(b)(c) | | 458,024 | 2,784,786 |
Series C(b)(c) | | 442,442 | 2,398,036 |
Quell Therapeutics Ltd. Series B (a)(b)(c) | | 822,639 | 1,661,731 |
Rapport Therapeutics, Inc. Series B (b)(c) | | 1,743,823 | 3,173,758 |
SalioGen Therapeutics, Inc. Series B (a)(b)(c) | | 14,028 | 939,876 |
Sonoma Biotherapeutics, Inc.: | | | |
Series B(a)(b)(c) | | 587,934 | 1,752,043 |
Series B1(a)(b)(c) | | 313,559 | 1,050,423 |
T-Knife Therapeutics, Inc. Series B (a)(b)(c) | | 241,456 | 1,016,530 |
Treeline Biosciences: | | | |
Series A(a)(b)(c) | | 283,817 | 2,324,461 |
Series A1(a)(b)(c) | | 151,334 | 1,269,692 |
| | | 64,567,282 |
Health Care Equipment & Supplies - 0.1% | | | |
Blink Health LLC: | | | |
Series C(a)(b)(c) | | 145,007 | 6,876,232 |
Series C1(b)(c) | | 56,458 | 2,677,238 |
Kardium, Inc. Series D6 (a)(b)(c) | | 1,087,032 | 837,015 |
Medical Microinstruments, Inc. Series C (b)(c) | | 81,214 | 2,707,163 |
| | | 13,097,648 |
Health Care Providers & Services - 0.0% | | | |
Boundless Bio, Inc.: | | | |
Series B(a)(b)(c) | | 756,226 | 710,852 |
Series C(b)(c) | | 1,833,120 | 1,338,178 |
Conformal Medical, Inc.: | | | |
Series C(a)(b)(c) | | 140,186 | 642,052 |
Series D(b)(c) | | 153,658 | 811,314 |
Scorpion Therapeutics, Inc. Series B (a)(b)(c) | | 260,848 | 401,706 |
| | | 3,904,102 |
Health Care Technology - 0.0% | | | |
Aledade, Inc.: | | | |
Series B1(a)(b)(c) | | 26,096 | 1,228,078 |
Series E1(a)(b)(c) | | 21,357 | 1,005,060 |
DNA Script: | | | |
Series B(a)(b)(c) | | 6 | 749 |
Series C(a)(b)(c) | | 2,549 | 974,512 |
Omada Health, Inc. Series E (a)(b)(c) | | 636,551 | 2,539,838 |
PrognomIQ, Inc.: | | | |
Series A5(a)(b)(c) | | 37,950 | 66,413 |
Series B(a)(b)(c) | | 196,968 | 482,572 |
Series C(a)(b)(c) | | 65,704 | 182,000 |
Wugen, Inc. Series B (a)(b)(c) | | 121,894 | 689,920 |
| | | 7,169,142 |
Pharmaceuticals - 0.0% | | | |
Agomab Therapeutics SA Series C (b)(c) | | 15,098 | 3,749,531 |
Galvanize Therapeutics Series B (a)(b)(c) | | 1,125,997 | 1,159,777 |
| | | 4,909,308 |
TOTAL HEALTH CARE | | | 93,647,482 |
| | | |
INDUSTRIALS - 0.4% | | | |
Aerospace & Defense - 0.4% | | | |
Space Exploration Technologies Corp.: | | | |
Series G(a)(b)(c) | | 7,729 | 7,497,130 |
Series J(b)(c) | | 52,171 | 50,605,870 |
Series N(a)(b)(c) | | 19,900 | 19,303,000 |
| | | 77,406,000 |
Construction & Engineering - 0.0% | | | |
Beta Technologies, Inc.: | | | |
Series A(a)(b)(c) | | 10,545 | 1,199,388 |
Series B, 6.00%(a)(b)(c) | | 20,919 | 2,639,559 |
| | | 3,838,947 |
TOTAL INDUSTRIALS | | | 81,244,947 |
| | | |
INFORMATION TECHNOLOGY - 0.3% | | | |
Electronic Equipment, Instruments & Components - 0.1% | | | |
Enevate Corp. Series E (a)(b)(c) | | 754,820 | 634,049 |
Menlo Micro, Inc. Series C (a)(b)(c) | | 993,699 | 695,589 |
VAST Data Ltd.: | | | |
Series A(b)(c) | | 107,503 | 1,625,445 |
Series A1(b)(c) | | 264,598 | 4,000,722 |
Series A2(b)(c) | | 304,373 | 4,602,120 |
Series B(b)(c) | | 242,193 | 3,661,958 |
Series C(b)(c) | | 7,060 | 106,747 |
Series E(b)(c) | | 231,432 | 3,499,252 |
| | | 18,825,882 |
Semiconductors & Semiconductor Equipment - 0.1% | | | |
Alif Semiconductor Series C (a)(b)(c) | | 43,034 | 819,798 |
Astera Labs, Inc.: | | | |
Series A(a)(b)(c) | | 40,298 | 855,124 |
Series B(a)(b)(c) | | 6,861 | 145,590 |
Series C(a)(b)(c) | | 186,200 | 3,951,164 |
Series D(a)(b)(c) | | 136,786 | 2,902,599 |
Retym, Inc. Series C (b)(c) | | 202,380 | 1,693,921 |
SiMa.ai: | | | |
Series B(a)(b)(c) | | 299,482 | 2,039,472 |
Series B1(a)(b)(c) | | 167,848 | 1,307,536 |
Xsight Labs Ltd.: | | | |
Series D(a)(b)(c) | | 122,201 | 626,891 |
Series D1(b)(c) | | 82,226 | 609,295 |
| | | 14,951,390 |
Software - 0.1% | | | |
ASAPP, Inc. Series D (b)(c) | | 612,736 | 1,727,916 |
Bolt Technology OU Series E (a)(b)(c) | | 17,815 | 2,082,754 |
Databricks, Inc.: | | | |
Series G(a)(b)(c) | | 37,815 | 3,102,721 |
Series H(a)(b)(c) | | 56,085 | 4,601,774 |
Series I(b)(c) | | 3,131 | 256,899 |
Evozyne, Inc.: | | | |
Series A(a)(b)(c) | | 78,000 | 1,318,200 |
Series B(b)(c) | | 95,720 | 1,637,769 |
Skyryse, Inc. Series B (a)(b)(c) | | 117,653 | 2,389,532 |
Stripe, Inc. Series H (a)(b)(c) | | 14,400 | 365,616 |
| | | 17,483,181 |
Technology Hardware, Storage & Peripherals - 0.0% | | | |
Lightmatter, Inc.: | | | |
Series C(b)(c) | | 136,712 | 2,984,423 |
Series C2(b)(c) | | 21,474 | 556,177 |
| | | 3,540,600 |
TOTAL INFORMATION TECHNOLOGY | | | 54,801,053 |
| | | |
MATERIALS - 0.0% | | | |
Chemicals - 0.0% | | | |
Farmers Business Network, Inc. Series G (a)(b)(c) | | 33,030 | 71,675 |
| | | |
Metals & Mining - 0.0% | | | |
Diamond Foundry, Inc. Series C (a)(b)(c) | | 301,038 | 7,537,992 |
| | | |
TOTAL MATERIALS | | | 7,609,667 |
| | | |
UTILITIES - 0.0% | | | |
Independent Power and Renewable Electricity Producers - 0.0% | | | |
Redwood Materials: | | | |
Series C(a)(b)(c) | | 20,469 | 814,257 |
Series D(b)(c) | | 7,960 | 316,649 |
| | | 1,130,906 |
TOTAL CONVERTIBLE PREFERRED STOCKS | | | 279,192,674 |
Nonconvertible Preferred Stocks - 0.0% | | | |
CONSUMER DISCRETIONARY - 0.0% | | | |
Automobiles - 0.0% | | | |
Waymo LLC Series A2 (a)(b)(c) | | 6,592 | 343,443 |
| | | |
FINANCIALS - 0.0% | | | |
Financial Services - 0.0% | | | |
Circle Internet Financial Ltd. Series E (a)(b)(c) | | 127,757 | 3,393,226 |
| | | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | | | 3,736,669 |
TOTAL PREFERRED STOCKS (Cost $275,155,612) | | | 282,929,343 |
| | | |
Additional information on each restricted holding is as follows: |
Security | Acquisition Date | Acquisition Cost ($) |
Adimab LLC | 1/19/21 | 10,078,725 |
| | |
AgBiome LLC Series D | 9/03/21 | 3,033,967 |
| | |
Agomab Therapeutics SA Series C | 10/03/23 | 3,296,587 |
| | |
Akeana Series C | 1/23/24 | 1,452,179 |
| | |
Aledade, Inc. Series B1 | 5/07/21 | 999,234 |
| | |
Aledade, Inc. Series E1 | 5/20/22 | 1,063,886 |
| | |
Alif Semiconductor Series C | 3/08/22 | 873,527 |
| | |
Altos Labs, Inc. Series B | 7/22/22 | 2,383,286 |
| | |
Ankyra Therapeutics Series B | 8/26/21 | 1,854,693 |
| | |
ASAPP, Inc. warrants 8/28/28 | 8/29/23 | 0 |
| | |
ASAPP, Inc. Series D | 8/29/23 | 2,366,080 |
| | |
Asimov, Inc. Series B | 10/29/21 | 1,846,200 |
| | |
Astera Labs, Inc. Series A | 5/17/22 | 819,631 |
| | |
Astera Labs, Inc. Series B | 5/17/22 | 139,556 |
| | |
Astera Labs, Inc. Series C | 8/24/21 | 1,251,934 |
| | |
Astera Labs, Inc. Series D | 5/17/22 | 2,782,101 |
| | |
Avidity Biosciences, Inc. | 2/29/24 | 3,196,050 |
| | |
AVROBIO, Inc. | 1/30/24 | 2,194,501 |
| | |
Beta Technologies, Inc. Series A | 4/09/21 | 772,632 |
| | |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 2,158,213 |
| | |
Blink Health LLC Series A1 | 12/30/20 | 1,786,125 |
| | |
Blink Health LLC Series C | 11/07/19 - 7/14/21 | 5,535,788 |
| | |
Blink Health LLC Series C1 | 7/15/22 - 2/02/24 | 2,193,318 |
| | |
Bolt Technology OU Series E | 1/03/22 | 4,628,275 |
| | |
Boundless Bio, Inc. Series B | 4/23/21 | 1,020,905 |
| | |
Boundless Bio, Inc. Series C | 4/05/23 | 1,283,184 |
| | |
Bowery Farming, Inc. Series C1 | 5/18/21 | 1,636,070 |
| | |
Bowery Farming, Inc. Series D1 | 10/25/23 | 138,975 |
| | |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
| | |
Bright Peak Therapeutics AG Series B | 5/14/21 | 1,102,496 |
| | |
ByteDance Ltd. Series E1 | 11/18/20 | 5,373,408 |
| | |
Canva, Inc. Series A | 9/22/23 | 1,575,458 |
| | |
Canva, Inc. Series A2 | 9/22/23 | 285,865 |
| | |
Caris Life Sciences, Inc. | 10/06/22 | 2,031,630 |
| | |
Caris Life Sciences, Inc. Series D | 5/11/21 | 2,094,968 |
| | |
Castle Creek Biosciences, Inc. Series C | 12/09/19 | 239,697 |
| | |
Castle Creek Biosciences, Inc. Series D1 | 4/19/22 | 962,474 |
| | |
Castle Creek Biosciences, Inc. Series D2 | 6/28/21 | 215,100 |
| | |
Cellanome, Inc. Series B | 1/08/24 | 3,003,295 |
| | |
Circle Internet Financial Ltd. Series E | 5/11/21 | 2,073,500 |
| | |
Cleerly, Inc. Series C | 7/08/22 | 3,473,958 |
| | |
Conformal Medical, Inc. Series C | 7/24/20 | 514,071 |
| | |
Conformal Medical, Inc. Series D | 5/26/23 | 780,530 |
| | |
CoreWeave, Inc. | 11/29/23 | 12,773,669 |
| | |
Databricks, Inc. Series G | 2/01/21 | 2,235,722 |
| | |
Databricks, Inc. Series H | 8/31/21 | 4,121,358 |
| | |
Databricks, Inc. Series I | 9/14/23 | 230,129 |
| | |
Deep Genomics, Inc. Series C | 7/21/21 | 2,254,110 |
| | |
Diamond Foundry, Inc. Series C | 3/15/21 | 7,224,912 |
| | |
Dianthus Therapeutics, Inc. (unlisted) | 5/03/23 - 1/22/24 | 3,042,850 |
| | |
Discord, Inc. Series I | 9/15/21 | 770,874 |
| | |
DNA Script | 12/17/21 | 443,611 |
| | |
DNA Script Series B | 12/17/21 | 4,804 |
| | |
DNA Script Series C | 10/01/21 | 2,217,248 |
| | |
Dragonfly Therapeutics, Inc. | 12/19/19 | 830,209 |
| | |
Element Biosciences, Inc. Series B | 12/13/19 | 655,374 |
| | |
Element Biosciences, Inc. Series C | 6/21/21 | 2,348,706 |
| | |
ElevateBio LLC Series C | 3/09/21 | 1,038,682 |
| | |
Enevate Corp. Series E | 1/29/21 | 836,858 |
| | |
Enevate Corp. 6% | 11/02/23 | 39,251 |
| | |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 2,875,000 |
| | |
Evozyne, Inc. Series A | 4/09/21 | 1,752,660 |
| | |
Evozyne, Inc. Series B | 9/14/23 | 1,482,703 |
| | |
Evozyne, Inc. 6% 9/13/28 pay-in-kind | 9/14/23 - 12/13/23 | 1,509,703 |
| | |
Fanatics, Inc. Class A | 8/13/20 - 10/24/22 | 7,298,410 |
| | |
Farmers Business Network, Inc. warrants 9/27/33 | 9/29/23 | 1 |
| | |
Farmers Business Network, Inc. Series G | 9/15/21 | 2,053,072 |
| | |
Farmers Business Network, Inc. 15% 9/28/25 | 9/29/23 | 993,920 |
| | |
Fog Pharmaceuticals, Inc. Series D | 11/17/22 | 2,933,989 |
| | |
Fog Pharmaceuticals, Inc. Series E | 2/29/24 | 1,261,439 |
| | |
Freenome, Inc. Series C | 8/14/20 | 934,916 |
| | |
Freenome, Inc. Series D | 11/22/21 | 947,803 |
| | |
Galvanize Therapeutics Series B | 3/29/22 | 1,949,422 |
| | |
Galvanize Therapeutics 6% 2/28/27 | 2/28/24 | 1,089,800 |
| | |
Generate Biomedicines Series B | 11/02/21 | 2,273,494 |
| | |
Generate Biomedicines Series C | 6/05/23 | 1,253,149 |
| | |
Genesis Therapeutics, Inc. Series B | 8/10/23 | 2,982,231 |
| | |
GoBrands, Inc. Series G | 3/02/21 | 4,971,122 |
| | |
GoBrands, Inc. Series H | 7/22/21 | 8,049,525 |
| | |
Inscripta, Inc. Series D | 11/13/20 | 1,270,263 |
| | |
Inscripta, Inc. Series E | 3/30/21 | 1,900,057 |
| | |
JUUL Labs, Inc. Class A | 2/23/24 | 2,867,386 |
| | |
Kardium, Inc. Series D6 | 12/30/20 | 1,104,251 |
| | |
Kardium, Inc. 0% | 12/30/20 | 1,541,987 |
| | |
Kartos Therapeutics, Inc. Series C | 8/22/23 | 2,672,580 |
| | |
Korro Bio, Inc. | 7/14/23 | 1,212,586 |
| | |
Laronde, Inc. Series B | 8/13/21 | 2,275,896 |
| | |
LifeMine Therapeutics, Inc. Series C | 2/15/22 | 3,583,954 |
| | |
Lightmatter, Inc. Series C | 5/19/23 | 2,249,842 |
| | |
Lightmatter, Inc. Series C2 | 12/18/23 | 558,363 |
| | |
Medical Microinstruments, Inc. warrants 2/16/31 | 2/16/24 | 0 |
| | |
Medical Microinstruments, Inc. Series C | 2/16/24 | 2,707,163 |
| | |
Meesho Series F | 9/21/21 | 5,135,664 |
| | |
Menlo Micro, Inc. Series C | 2/09/22 | 1,317,148 |
| | |
National Resilience, Inc. Series B | 12/01/20 | 2,490,423 |
| | |
National Resilience, Inc. Series C | 6/28/21 | 3,319,559 |
| | |
Neutron Holdings, Inc. 4% 5/22/27 | 6/04/20 | 310,600 |
| | |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 82,200 |
| | |
Neutron Holdings, Inc. 5.5% 10/29/26 | 10/29/21 - 10/27/23 | 2,123,455 |
| | |
Odyssey Therapeutics, Inc. Series B | 9/30/22 | 2,892,806 |
| | |
Odyssey Therapeutics, Inc. Series C | 10/25/23 | 2,212,210 |
| | |
Omada Health, Inc. Series E | 12/22/21 | 3,816,251 |
| | |
Paragon Biosciences Emalex Capital, Inc. Series C | 2/26/21 | 1,176,647 |
| | |
Paragon Biosciences Emalex Capital, Inc. Series D1 | 10/21/22 | 2,067,447 |
| | |
Paragon Biosciences Emalex Capital, Inc. Series D2 | 5/18/22 | 134,101 |
| | |
PrognomIQ, Inc. Series A5 | 8/20/20 | 22,922 |
| | |
PrognomIQ, Inc. Series B | 9/11/20 | 450,094 |
| | |
PrognomIQ, Inc. Series C | 2/16/22 | 201,054 |
| | |
Quell Therapeutics Ltd. Series B | 11/24/21 | 1,554,788 |
| | |
Rad Power Bikes, Inc. | 1/21/21 | 826,883 |
| | |
Rad Power Bikes, Inc. warrants 10/6/33 | 10/06/23 | 0 |
| | |
Rad Power Bikes, Inc. Series A | 1/21/21 | 107,803 |
| | |
Rad Power Bikes, Inc. Series C | 1/21/21 | 424,189 |
| | |
Rad Power Bikes, Inc. Series D | 9/17/21 | 2,104,602 |
| | |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 280,502 |
| | |
Rapport Therapeutics, Inc. Series B | 8/11/23 | 2,924,862 |
| | |
Reddit, Inc. Series E | 5/18/21 | 191,176 |
| | |
Reddit, Inc. Series F | 8/11/21 | 5,467,939 |
| | |
Redwood Materials Series C | 5/28/21 | 970,302 |
| | |
Redwood Materials Series D | 6/02/23 | 379,977 |
| | |
Retym, Inc. Series C | 5/17/23 - 6/20/23 | 1,574,880 |
| | |
SalioGen Therapeutics, Inc. Series B | 12/10/21 | 1,485,060 |
| | |
Saluda Medical, Inc. warrants 1/20/27 | 1/20/22 | 0 |
| | |
Saluda Medical, Inc. Series D | 1/20/22 | 1,975,505 |
| | |
Saluda Medical, Inc. Series E | 4/06/23 | 2,321,968 |
| | |
Scholar Rock Holding Corp. warrants 12/31/25 | 6/17/22 | 0 |
| | |
Scorpion Therapeutics, Inc. Series B | 1/08/21 | 631,103 |
| | |
SiMa.ai Series B | 5/10/21 | 1,535,564 |
| | |
SiMa.ai Series B1 | 4/25/22 - 10/17/22 | 1,190,194 |
| | |
Skyhawk Therapeutics, Inc. | 5/21/21 | 2,094,864 |
| | |
Skyryse, Inc. Series B | 10/21/21 | 2,903,673 |
| | |
Sonoma Biotherapeutics, Inc. Series B | 7/26/21 | 1,161,934 |
| | |
Sonoma Biotherapeutics, Inc. Series B1 | 7/26/21 | 929,546 |
| | |
Space Exploration Technologies Corp. Class A | 2/16/21 - 5/24/22 | 21,637,941 |
| | |
Space Exploration Technologies Corp. Series G | 9/07/23 | 6,260,490 |
| | |
Space Exploration Technologies Corp. Series J | 9/07/23 | 42,258,510 |
| | |
Space Exploration Technologies Corp. Series N | 8/04/20 | 5,373,000 |
| | |
Spyre Therapeutics, Inc. | 6/22/23 - 12/07/23 | 1,163,378 |
| | |
Stripe, Inc. Class B | 5/18/21 | 1,544,943 |
| | |
Stripe, Inc. Series H | 3/15/21 | 577,800 |
| | |
T-Knife Therapeutics, Inc. Series B | 6/30/21 | 1,392,911 |
| | |
Tango Therapeutics, Inc. | 8/09/23 | 855,271 |
| | |
Tenstorrent Holdings, Inc. Series C1 | 4/23/21 | 1,944,778 |
| | |
Tenstorrent Holdings, Inc. 5% 11/6/25 | 11/06/23 | 993,812 |
| | |
The Beauty Health Co. | 12/08/20 | 4,286,430 |
| | |
The Oncology Institute, Inc. | 6/28/21 | 4,467,880 |
| | |
Treeline Biosciences Series A | 7/30/21 - 10/27/22 | 2,221,578 |
| | |
Treeline Biosciences Series A1 | 10/27/22 | 1,303,031 |
| | |
VAST Data Ltd. Series A | 11/28/23 | 1,182,533 |
| | |
VAST Data Ltd. Series A1 | 11/28/23 | 2,910,578 |
| | |
VAST Data Ltd. Series A2 | 11/28/23 | 3,348,103 |
| | |
VAST Data Ltd. Series B | 11/28/23 | 2,664,123 |
| | |
VAST Data Ltd. Series C | 11/28/23 | 77,660 |
| | |
VAST Data Ltd. Series E | 11/28/23 | 5,091,504 |
| | |
Waymo LLC Series A2 | 5/08/20 | 566,037 |
| | |
Wugen, Inc. Series B | 7/09/21 | 945,276 |
| | |
X Holdings Corp. Class A | 10/27/21 | 2,482,445 |
| | |
Xsight Labs Ltd. warrants 1/11/34 | 1/11/24 | 0 |
| | |
Xsight Labs Ltd. Series D | 2/16/21 | 977,119 |
| | |
Xsight Labs Ltd. Series D1 | 1/11/24 | 657,479 |
| | |
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Convertible Bonds and Preferred Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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