Common Stocks - 98.6% |
| | Shares | Value ($) |
COMMUNICATION SERVICES - 17.1% | | | |
Diversified Telecommunication Services - 0.1% | | | |
Indus Towers Ltd. (a) | | 1,227,200 | 5,192,363 |
Entertainment - 2.7% | | | |
Netflix, Inc. (a) | | 358,424 | 197,362,591 |
Roblox Corp. (a) | | 327,300 | 11,638,788 |
Sea Ltd. ADR (a) | | 456,675 | 28,857,293 |
Sphere Entertainment Co. (a)(b) | | 55,000 | 2,137,300 |
Spotify Technology SA (a) | | 14,000 | 3,926,160 |
Take-Two Interactive Software, Inc. (a) | | 23,100 | 3,298,911 |
The Walt Disney Co. | | 59,800 | 6,643,780 |
TKO Group Holdings, Inc. | | 48,200 | 4,563,094 |
Universal Music Group NV | | 317,839 | 9,395,779 |
| | | 267,823,696 |
Interactive Media & Services - 14.1% | | | |
Alphabet, Inc. Class A | | 4,075,060 | 663,338,267 |
Epic Games, Inc. (a)(c)(d) | | 1,076 | 645,600 |
Meta Platforms, Inc. Class A | | 1,245,710 | 535,867,071 |
Reddit, Inc. Class B (l) | | 134,285 | 5,967,625 |
Snap, Inc. Class A (a) | | 14,774,300 | 222,353,215 |
| | | 1,428,171,778 |
Media - 0.0% | | | |
The Trade Desk, Inc. (a) | | 38,300 | 3,173,155 |
Wireless Telecommunication Services - 0.2% | | | |
T-Mobile U.S., Inc. | | 38,300 | 6,287,711 |
Vodafone Idea Ltd. (l) | | 38,583,699 | 6,053,563 |
Vodafone Idea Ltd. (l) | | 38,583,699 | 6,053,563 |
Vodafone Idea Ltd. (a) | | 3,913,126 | 614,915 |
| | | 19,009,752 |
TOTAL COMMUNICATION SERVICES | | | 1,723,370,744 |
CONSUMER DISCRETIONARY - 20.4% | | | |
Automobiles - 1.0% | | | |
General Motors Co. | | 32,600 | 1,451,678 |
Neutron Holdings, Inc. (a)(c)(d) | | 691,699 | 20,474 |
Rad Power Bikes, Inc. (a)(c)(d) | | 110,210 | 51,799 |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(c)(d) | | 74,246 | 187,100 |
Rivian Automotive, Inc. (a)(b) | | 1,367,795 | 12,173,376 |
Tesla, Inc. (a) | | 463,005 | 84,859,556 |
| | | 98,743,983 |
Broadline Retail - 8.8% | | | |
Amazon.com, Inc. (a) | | 4,794,400 | 839,020,000 |
Dollarama, Inc. | | 34,100 | 2,844,618 |
Lenskart Solutions Pvt Ltd. (c)(d) | | 185,209 | 5,104,010 |
Ollie's Bargain Outlet Holdings, Inc. (a) | | 121,900 | 8,915,766 |
PDD Holdings, Inc. ADR (a) | | 244,800 | 30,644,064 |
| | | 886,528,458 |
Diversified Consumer Services - 0.1% | | | |
Duolingo, Inc. (a) | | 12,900 | 2,912,175 |
New Oriental Education & Technology Group, Inc. sponsored ADR (a) | | 85,322 | 6,578,326 |
| | | 9,490,501 |
Hotels, Restaurants & Leisure - 2.6% | | | |
Airbnb, Inc. Class A (a) | | 398,500 | 63,190,145 |
Caesars Entertainment, Inc. (a) | | 366,947 | 13,144,042 |
Cava Group, Inc. | | 31,000 | 2,230,140 |
Chipotle Mexican Grill, Inc. (a) | | 14,642 | 46,262,863 |
Deliveroo PLC Class A (a)(e) | | 24,700 | 41,296 |
Doordash, Inc. (a) | | 47,700 | 6,165,702 |
Draftkings Holdings, Inc. (a) | | 270,200 | 11,229,512 |
Flutter Entertainment PLC (a) | | 38,900 | 7,254,669 |
Hilton Worldwide Holdings, Inc. | | 6,600 | 1,302,048 |
Light & Wonder, Inc. Class A (a) | | 54,300 | 4,846,818 |
Marriott International, Inc. Class A | | 71,800 | 16,954,134 |
McDonald's Corp. | | 37,100 | 10,129,784 |
Penn Entertainment, Inc. (a) | | 609,243 | 10,076,879 |
Restaurant Brands International, Inc. | | 80,900 | 6,137,505 |
Royal Caribbean Cruises Ltd. (a) | | 16,600 | 2,317,858 |
Starbucks Corp. | | 325,600 | 28,812,344 |
Sweetgreen, Inc. Class A (a) | | 1,119,181 | 25,147,997 |
Yum! Brands, Inc. | | 20,400 | 2,881,500 |
Zomato Ltd. (a) | | 1,173,800 | 2,708,275 |
| | | 260,833,511 |
Household Durables - 0.2% | | | |
D.R. Horton, Inc. | | 38,500 | 5,485,865 |
Garmin Ltd. | | 25,300 | 3,655,091 |
SharkNinja, Inc. | | 161,100 | 10,355,508 |
TopBuild Corp. (a) | | 10,700 | 4,329,969 |
| | | 23,826,433 |
Specialty Retail - 3.7% | | | |
Abercrombie & Fitch Co. Class A (a) | | 345,925 | 42,036,806 |
American Eagle Outfitters, Inc. | | 1,712,586 | 41,547,336 |
Aritzia, Inc. (a) | | 285,800 | 7,399,057 |
Beyond, Inc. (a)(b) | | 140,100 | 2,820,213 |
Dick's Sporting Goods, Inc. | | 134,200 | 26,966,148 |
Fanatics, Inc. Class A (a)(c)(d) | | 159,285 | 11,006,594 |
Five Below, Inc. (a) | | 129,184 | 18,904,787 |
Floor & Decor Holdings, Inc. Class A (a) | | 4,200 | 463,386 |
Foot Locker, Inc. (b) | | 105,400 | 2,197,590 |
Gap, Inc. | | 182,200 | 3,738,744 |
Lowe's Companies, Inc. | | 410,806 | 93,659,660 |
RH (a) | | 176,404 | 43,580,608 |
The Home Depot, Inc. | | 6,900 | 2,306,118 |
TJX Companies, Inc. | | 495,100 | 46,583,959 |
Warby Parker, Inc. (a) | | 816,879 | 9,590,159 |
Wayfair LLC Class A (a) | | 280,720 | 14,078,108 |
Williams-Sonoma, Inc. | | 18,100 | 5,190,718 |
| | | 372,069,991 |
Textiles, Apparel & Luxury Goods - 4.0% | | | |
adidas AG | | 28,000 | 6,765,194 |
Compagnie Financiere Richemont SA Series A | | 39,340 | 5,437,851 |
Crocs, Inc. (a) | | 170,084 | 21,153,347 |
Deckers Outdoor Corp. (a) | | 96,016 | 78,586,216 |
Hermes International SCA | | 3,601 | 8,650,564 |
lululemon athletica, Inc. (a) | | 464,574 | 167,525,384 |
LVMH Moet Hennessy Louis Vuitton SE | | 25,461 | 20,914,591 |
NIKE, Inc. Class B | | 553,613 | 51,076,335 |
On Holding AG (a) | | 288,600 | 9,163,050 |
Prada SpA | | 168,100 | 1,370,908 |
PVH Corp. | | 269,900 | 29,365,120 |
Ralph Lauren Corp. | | 18,400 | 3,010,976 |
Tapestry, Inc. | | 77,800 | 3,105,776 |
Tory Burch LLC (a)(c)(d)(f) | | 106,817 | 4,333,566 |
| | | 410,458,878 |
TOTAL CONSUMER DISCRETIONARY | | | 2,061,951,755 |
CONSUMER STAPLES - 2.0% | | | |
Beverages - 0.5% | | | |
Celsius Holdings, Inc. (a) | | 575,145 | 40,990,584 |
Constellation Brands, Inc. Class A (sub. vtg.) | | 7,500 | 1,900,950 |
PepsiCo, Inc. | | 47,400 | 8,338,134 |
| | | 51,229,668 |
Consumer Staples Distribution & Retail - 0.7% | | | |
Costco Wholesale Corp. | | 6,100 | 4,409,690 |
Dollar Tree, Inc. (a) | | 62,300 | 7,366,975 |
Maplebear, Inc. (NASDAQ) | | 45,265 | 1,544,894 |
Target Corp. | | 126,800 | 20,412,264 |
Walmart, Inc. | | 514,700 | 30,547,445 |
| | | 64,281,268 |
Food Products - 0.2% | | | |
Lamb Weston Holdings, Inc. | | 128,300 | 10,692,522 |
Patanjali Foods Ltd. | | 203,300 | 3,670,478 |
The Hershey Co. | | 19,900 | 3,859,008 |
The Real Good Food Co., Inc. (a)(b) | | 49,300 | 13,952 |
Tyson Foods, Inc. Class A | | 67,900 | 4,118,135 |
| | | 22,354,095 |
Household Products - 0.3% | | | |
Procter & Gamble Co. | | 187,100 | 30,534,720 |
The Clorox Co. | | 10,900 | 1,611,783 |
| | | 32,146,503 |
Personal Care Products - 0.2% | | | |
Estee Lauder Companies, Inc. Class A | | 95,300 | 13,981,463 |
Kenvue, Inc. | | 303,000 | 5,702,460 |
Oddity Tech Ltd. | | 63,724 | 2,073,579 |
| | | 21,757,502 |
Tobacco - 0.1% | | | |
JUUL Labs, Inc.: | | | |
Class A (a)(c)(d)(g) | | 4,827,462 | 5,165,384 |
Class B (a)(c)(d) | | 2,450 | 2,622 |
Philip Morris International, Inc. | | 61,300 | 5,819,822 |
| | | 10,987,828 |
TOTAL CONSUMER STAPLES | | | 202,756,864 |
ENERGY - 1.5% | | | |
Energy Equipment & Services - 0.0% | | | |
Secure Energy Services, Inc. | | 319,400 | 2,705,266 |
Oil, Gas & Consumable Fuels - 1.5% | | | |
Cameco Corp. | | 243,400 | 11,105,186 |
Cheniere Energy, Inc. | | 21,700 | 3,424,694 |
Diamondback Energy, Inc. | | 161,000 | 32,381,930 |
EOG Resources, Inc. | | 213,500 | 28,209,755 |
Exxon Mobil Corp. | | 188,400 | 22,282,068 |
Marathon Petroleum Corp. | | 10,200 | 1,853,544 |
Occidental Petroleum Corp. | | 282,300 | 18,671,322 |
Phillips 66 Co. | | 12,900 | 1,847,409 |
Reliance Industries Ltd. | | 607,249 | 21,310,966 |
Reliance Industries Ltd. GDR (e) | | 24,800 | 1,753,360 |
Valero Energy Corp. | | 12,200 | 1,950,414 |
| | | 144,790,648 |
TOTAL ENERGY | | | 147,495,914 |
FINANCIALS - 2.9% | | | |
Banks - 0.1% | | | |
Citigroup, Inc. | | 191,600 | 11,750,828 |
Capital Markets - 0.6% | | | |
Blue Owl Capital, Inc. Class A | | 182,600 | 3,449,314 |
Coinbase Global, Inc. (a) | | 163,500 | 33,342,555 |
CVC Capital Partners PLC | | 159,700 | 2,897,341 |
Goldman Sachs Group, Inc. | | 26,600 | 11,350,486 |
KKR & Co. LP | | 36,400 | 3,387,748 |
Morgan Stanley | | 94,700 | 8,602,548 |
| | | 63,029,992 |
Consumer Finance - 0.4% | | | |
American Express Co. | | 149,200 | 34,917,276 |
Financial Services - 1.6% | | | |
Ant International Co. Ltd. Class C (a)(c)(d) | | 784,278 | 1,388,172 |
Apollo Global Management, Inc. | | 32,300 | 3,500,674 |
Berkshire Hathaway, Inc. Class B (a) | | 7,300 | 2,896,129 |
Block, Inc. Class A (a) | | 392,500 | 28,652,500 |
Jio Financial Services Ltd. | | 726,649 | 3,271,278 |
MasterCard, Inc. Class A | | 223,900 | 101,023,680 |
Visa, Inc. Class A | | 88,500 | 23,771,985 |
| | | 164,504,418 |
Insurance - 0.2% | | | |
Progressive Corp. | | 97,600 | 20,325,200 |
TOTAL FINANCIALS | | | 294,527,714 |
HEALTH CARE - 8.4% | | | |
Biotechnology - 1.2% | | | |
Alnylam Pharmaceuticals, Inc. (a) | | 30,481 | 4,387,740 |
Apogee Therapeutics, Inc. | | 51,300 | 2,580,390 |
Arcellx, Inc. (a) | | 15,400 | 770,308 |
Ascendis Pharma A/S sponsored ADR (a) | | 138,396 | 19,159,542 |
Cibus, Inc. (a) | | 32,171 | 548,516 |
Janux Therapeutics, Inc. (a) | | 21,800 | 1,242,600 |
Legend Biotech Corp. ADR (a) | | 81,700 | 3,573,558 |
Moderna, Inc. (a) | | 61,600 | 6,795,096 |
Moonlake Immunotherapeutics (a)(b) | | 81,300 | 3,325,983 |
Regeneron Pharmaceuticals, Inc. (a) | | 74,300 | 66,176,038 |
Viking Therapeutics, Inc. (a) | | 124,500 | 9,907,710 |
| | | 118,467,481 |
Health Care Equipment & Supplies - 1.3% | | | |
Blink Health LLC Series A1 (a)(c)(d) | | 6,283 | 258,860 |
Boston Scientific Corp. (a) | | 665,000 | 47,793,550 |
DexCom, Inc. (a) | | 350,860 | 44,696,055 |
Glaukos Corp. (a) | | 33,700 | 3,235,200 |
Inspire Medical Systems, Inc. (a) | | 41,000 | 9,908,060 |
Intuitive Surgical, Inc. (a) | | 19,200 | 7,115,904 |
Masimo Corp. (a) | | 22,300 | 2,997,343 |
Stryker Corp. | | 47,800 | 16,084,700 |
TransMedics Group, Inc. (a) | | 18,800 | 1,769,644 |
| | | 133,859,316 |
Health Care Providers & Services - 1.5% | | | |
McKesson Corp. | | 3,800 | 2,041,398 |
Surgery Partners, Inc. (a) | | 44,900 | 1,120,255 |
UnitedHealth Group, Inc. | | 308,400 | 149,173,080 |
| | | 152,334,733 |
Health Care Technology - 0.0% | | | |
MultiPlan Corp. warrants (a)(c) | | 24,206 | 0 |
Life Sciences Tools & Services - 0.4% | | | |
Danaher Corp. | | 111,100 | 27,399,482 |
Thermo Fisher Scientific, Inc. | | 19,000 | 10,805,680 |
| | | 38,205,162 |
Pharmaceuticals - 4.0% | | | |
Eli Lilly & Co. | | 357,579 | 279,304,957 |
Galderma Group AG | | 34,400 | 2,563,394 |
GSK PLC sponsored ADR | | 87,100 | 3,609,424 |
Merck & Co., Inc. | | 119,100 | 15,390,102 |
Novo Nordisk A/S: | | | |
Series B | | 57,400 | 7,361,109 |
Series B sponsored ADR | | 352,000 | 45,165,120 |
UCB SA | | 15,200 | 2,020,380 |
Zoetis, Inc. Class A | | 288,579 | 45,953,320 |
| | | 401,367,806 |
TOTAL HEALTH CARE | | | 844,234,498 |
INDUSTRIALS - 4.6% | | | |
Aerospace & Defense - 1.1% | | | |
General Electric Co. | | 114,300 | 18,496,026 |
Howmet Aerospace, Inc. | | 163,900 | 10,940,325 |
L3Harris Technologies, Inc. | | 26,700 | 5,715,135 |
Loar Holdings, Inc. | | 10,100 | 528,432 |
Northrop Grumman Corp. | | 9,600 | 4,656,288 |
Space Exploration Technologies Corp.: | | | |
Class A (a)(c)(d) | | 227,030 | 22,021,910 |
Class C (a)(c)(d) | | 6,860 | 665,420 |
Spirit AeroSystems Holdings, Inc. Class A (a) | | 110,900 | 3,548,800 |
The Boeing Co. (a) | | 224,700 | 37,713,648 |
TransDigm Group, Inc. | | 5,400 | 6,739,362 |
| | | 111,025,346 |
Air Freight & Logistics - 0.1% | | | |
FedEx Corp. | | 36,500 | 9,554,970 |
Building Products - 0.1% | | | |
Builders FirstSource, Inc. (a) | | 20,700 | 3,784,374 |
The AZEK Co., Inc. (a) | | 38,700 | 1,766,268 |
Trane Technologies PLC | | 3,200 | 1,015,488 |
| | | 6,566,130 |
Commercial Services & Supplies - 0.1% | | | |
ACV Auctions, Inc. Class A (a) | | 381,800 | 6,662,410 |
Construction & Engineering - 0.1% | | | |
Comfort Systems U.S.A., Inc. | | 9,500 | 2,939,395 |
EMCOR Group, Inc. | | 17,200 | 6,143,324 |
Larsen & Toubro Ltd. | | 82,900 | 3,562,519 |
Sterling Construction Co., Inc. (a) | | 10,100 | 1,026,160 |
| | | 13,671,398 |
Electrical Equipment - 0.3% | | | |
Acuity Brands, Inc. | | 16,600 | 4,121,780 |
Eaton Corp. PLC | | 56,000 | 17,822,560 |
GE Vernova LLC | | 41,600 | 6,394,336 |
Nextracker, Inc. Class A (a) | | 34,600 | 1,480,534 |
| | | 29,819,210 |
Ground Transportation - 2.5% | | | |
Bird Global, Inc.: | | | |
Stage 1 rights (a)(d) | | 549 | 0 |
Stage 2 rights (a)(d) | | 549 | 0 |
Stage 3 rights (a)(d) | | 549 | 0 |
Lyft, Inc. (a) | | 4,066,489 | 63,599,888 |
Norfolk Southern Corp. | | 6,000 | 1,381,920 |
Uber Technologies, Inc. (a) | | 2,821,275 | 186,965,894 |
| | | 251,947,702 |
Passenger Airlines - 0.0% | | | |
Delta Air Lines, Inc. | | 84,900 | 4,250,943 |
Trading Companies & Distributors - 0.3% | | | |
Ferguson PLC | | 25,400 | 5,331,460 |
FTAI Aviation Ltd. | | 330,600 | 23,211,426 |
Watsco, Inc. | | 5,800 | 2,596,776 |
| | | 31,139,662 |
TOTAL INDUSTRIALS | | | 464,637,771 |
INFORMATION TECHNOLOGY - 41.2% | | | |
Communications Equipment - 0.1% | | | |
Arista Networks, Inc. (a) | | 21,600 | 5,541,696 |
Ciena Corp. (a) | | 129,200 | 5,972,916 |
| | | 11,514,612 |
Electronic Equipment, Instruments & Components - 0.0% | | | |
Corning, Inc. | | 32,200 | 1,074,836 |
IT Services - 0.7% | | | |
MongoDB, Inc. Class A (a) | | 37,880 | 13,833,018 |
Okta, Inc. (a) | | 329,600 | 30,646,208 |
Shopify, Inc. Class A (a) | | 148,200 | 10,404,627 |
Snowflake, Inc. (a) | | 67,800 | 10,522,560 |
| | | 65,406,413 |
Semiconductors & Semiconductor Equipment - 21.4% | | | |
Advanced Micro Devices, Inc. (a) | | 219,019 | 34,688,229 |
Applied Materials, Inc. | | 23,100 | 4,588,815 |
ASML Holding NV (depository receipt) | | 21,300 | 18,583,611 |
Astera Labs, Inc. | | 77,000 | 6,526,520 |
Broadcom, Inc. | | 19,600 | 25,485,292 |
Enphase Energy, Inc. (a) | | 20,200 | 2,196,952 |
First Solar, Inc. (a) | | 20,400 | 3,596,520 |
GlobalFoundries, Inc. (a) | | 926,960 | 45,309,805 |
Impinj, Inc. (a) | | 49,400 | 7,873,372 |
Lam Research Corp. | | 8,700 | 7,781,367 |
Marvell Technology, Inc. | | 5,397,895 | 355,775,259 |
Micron Technology, Inc. | | 252,500 | 28,522,400 |
Monolithic Power Systems, Inc. | | 36,500 | 24,430,545 |
NVIDIA Corp. | | 1,481,596 | 1,280,128,577 |
NXP Semiconductors NV | | 692,035 | 177,292,447 |
ON Semiconductor Corp. (a) | | 764,100 | 53,609,256 |
Synaptics, Inc. (a) | | 11,200 | 1,007,552 |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | | 459,900 | 63,162,666 |
Teradyne, Inc. | | 198,100 | 23,042,992 |
Xsight Labs Ltd. warrants 1/11/34 (a)(c)(d) | | 15,421 | 28,375 |
| | | 2,163,630,552 |
Software - 11.7% | | | |
Adobe, Inc. (a) | | 19,600 | 9,071,468 |
AppLovin Corp. (a) | | 67,000 | 4,728,190 |
Atom Tickets LLC (a)(c)(d)(f) | | 344,068 | 3 |
Bill Holdings, Inc. (a) | | 134,600 | 8,393,656 |
Cadence Design Systems, Inc. (a) | | 3,400 | 937,142 |
CoreWeave, Inc. (c)(d) | | 26,920 | 10,504,453 |
Datadog, Inc. Class A (a) | | 108,700 | 13,641,850 |
HubSpot, Inc. (a) | | 54,892 | 33,202,524 |
Intuit, Inc. | | 47,900 | 29,967,198 |
Microsoft Corp. | | 2,379,200 | 926,293,936 |
Oracle Corp. | | 85,800 | 9,759,750 |
Palantir Technologies, Inc. (a) | | 137,600 | 3,023,072 |
PTC, Inc. (a) | | 5,400 | 958,176 |
Rubrik, Inc. | | 26,400 | 845,328 |
Salesforce, Inc. | | 320,770 | 86,267,884 |
ServiceNow, Inc. (a) | | 37,323 | 25,877,156 |
Stripe, Inc. Class B (a)(c)(d) | | 19,900 | 517,400 |
Synopsys, Inc. (a) | | 12,800 | 6,791,552 |
Tanium, Inc. Class B (a)(c)(d) | | 151,000 | 1,253,300 |
Zoom Video Communications, Inc. Class A (a) | | 143,400 | 8,761,740 |
| | | 1,180,795,778 |
Technology Hardware, Storage & Peripherals - 7.3% | | | |
Apple, Inc. | | 4,167,436 | 709,839,374 |
Dell Technologies, Inc. | | 152,800 | 19,044,992 |
Western Digital Corp. (a) | | 136,900 | 9,696,627 |
| | | 738,580,993 |
TOTAL INFORMATION TECHNOLOGY | | | 4,161,003,184 |
MATERIALS - 0.3% | | | |
Chemicals - 0.1% | | | |
Linde PLC | | 12,900 | 5,688,384 |
Sherwin-Williams Co. | | 9,700 | 2,906,217 |
| | | 8,594,601 |
Construction Materials - 0.1% | | | |
CRH PLC | | 38,400 | 2,972,928 |
Grasim Industries Ltd. | | 100,100 | 2,885,377 |
| | | 5,858,305 |
Metals & Mining - 0.1% | | | |
ATI, Inc. (a) | | 122,000 | 7,283,400 |
Carpenter Technology Corp. | | 94,800 | 8,124,360 |
| | | 15,407,760 |
TOTAL MATERIALS | | | 29,860,666 |
REAL ESTATE - 0.2% | | | |
Equity Real Estate Investment Trusts (REITs) - 0.1% | | | |
Welltower, Inc. | | 136,200 | 12,977,136 |
Real Estate Management & Development - 0.1% | | | |
Zillow Group, Inc. Class C (a) | | 158,700 | 6,755,859 |
TOTAL REAL ESTATE | | | 19,732,995 |
UTILITIES - 0.0% | | | |
Independent Power and Renewable Electricity Producers - 0.0% | | | |
Vistra Corp. | | 23,000 | 1,744,320 |
TOTAL COMMON STOCKS (Cost $4,470,114,367) | | | 9,951,316,425 |
| | | |
Preferred Stocks - 1.1% |
| | Shares | Value ($) |
Convertible Preferred Stocks - 1.1% | | | |
COMMUNICATION SERVICES - 0.1% | | | |
Interactive Media & Services - 0.1% | | | |
ByteDance Ltd. Series E1 (a)(c)(d) | | 37,119 | 8,554,816 |
| | | |
CONSUMER DISCRETIONARY - 0.1% | | | |
Automobiles - 0.0% | | | |
Rad Power Bikes, Inc.: | | | |
Series A(a)(c)(d) | | 14,368 | 6,753 |
Series C(a)(c)(d) | | 56,537 | 44,664 |
| | | 51,417 |
Hotels, Restaurants & Leisure - 0.1% | | | |
MOD Super Fast Pizza Holdings LLC Series 3 (a)(c)(d)(f) | | 32,826 | 4,075,775 |
| | | |
TOTAL CONSUMER DISCRETIONARY | | | 4,127,192 |
| | | |
CONSUMER STAPLES - 0.0% | | | |
Consumer Staples Distribution & Retail - 0.0% | | | |
GoBrands, Inc. Series G (a)(c)(d) | | 19,600 | 727,160 |
| | | |
Food Products - 0.0% | | | |
AgBiome LLC Series C (a)(c)(d) | | 266,499 | 3 |
| | | |
Tobacco - 0.0% | | | |
JUUL Labs, Inc.: | | | |
Series C(a)(c)(d) | | 660,029 | 706,231 |
Series D(a)(c)(d) | | 5,110 | 5,468 |
| | | 711,699 |
TOTAL CONSUMER STAPLES | | | 1,438,862 |
| | | |
FINANCIALS - 0.0% | | | |
Financial Services - 0.0% | | | |
Akeana Series C (c)(d) | | 65,000 | 824,200 |
| | | |
HEALTH CARE - 0.0% | | | |
Biotechnology - 0.0% | | | |
Castle Creek Biosciences, Inc.: | | | |
Series B(a)(c)(d) | | 1,069 | 209,791 |
Series D2(a)(c)(d) | | 642 | 120,157 |
| | | 329,948 |
Health Care Equipment & Supplies - 0.0% | | | |
Blink Health LLC Series C (a)(c)(d) | | 27,197 | 1,120,516 |
| | | |
TOTAL HEALTH CARE | | | 1,450,464 |
| | | |
INDUSTRIALS - 0.7% | | | |
Aerospace & Defense - 0.7% | | | |
Space Exploration Technologies Corp.: | | | |
Series G(a)(c)(d) | | 43,447 | 42,143,590 |
Series H(a)(c)(d) | | 6,348 | 6,157,560 |
Series J(c)(d) | | 5,376 | 5,214,720 |
Series N(a)(c)(d) | | 12,799 | 12,415,030 |
| | | 65,930,900 |
Construction & Engineering - 0.0% | | | |
Beta Technologies, Inc. Series A (a)(c)(d) | | 12,033 | 1,335,543 |
| | | |
TOTAL INDUSTRIALS | | | 67,266,443 |
| | | |
INFORMATION TECHNOLOGY - 0.2% | | | |
Electronic Equipment, Instruments & Components - 0.0% | | | |
Enevate Corp. Series E (a)(c)(d) | | 1,441,706 | 1,138,948 |
| | | |
Semiconductors & Semiconductor Equipment - 0.1% | | | |
Retym, Inc. Series C (c)(d) | | 168,905 | 1,369,820 |
Xsight Labs Ltd.: | | | |
Series D(a)(c)(d) | | 140,500 | 720,765 |
Series D1(c)(d) | | 51,402 | 379,861 |
| | | 2,470,446 |
Software - 0.1% | | | |
Bolt Technology OU Series E (a)(c)(d) | | 18,160 | 2,230,097 |
Databricks, Inc.: | | | |
Series G(a)(c)(d) | | 51,900 | 4,080,897 |
Series I(c)(d) | | 1,191 | 93,648 |
Dataminr, Inc. Series D (a)(c)(d) | | 115,901 | 1,300,409 |
Moloco, Inc. Series A (c)(d) | | 19,537 | 871,741 |
Stripe, Inc.: | | | |
Series H(a)(c)(d) | | 8,700 | 226,200 |
Series I(a)(c)(d) | | 135,124 | 3,513,224 |
| | | 12,316,216 |
Technology Hardware, Storage & Peripherals - 0.0% | | | |
Lightmatter, Inc.: | | | |
Series C(c)(d) | | 77,697 | 1,654,946 |
Series C2(c)(d) | | 12,204 | 308,883 |
| | | 1,963,829 |
TOTAL INFORMATION TECHNOLOGY | | | 17,889,439 |
| | | |
MATERIALS - 0.0% | | | |
Metals & Mining - 0.0% | | | |
Diamond Foundry, Inc. Series C (a)(c)(d) | | 125,000 | 2,790,000 |
| | | |
TOTAL CONVERTIBLE PREFERRED STOCKS | | | 104,341,416 |
Nonconvertible Preferred Stocks - 0.0% | | | |
CONSUMER DISCRETIONARY - 0.0% | | | |
Automobiles - 0.0% | | | |
Neutron Holdings, Inc. Series 1C (a)(c)(d) | | 12,405,800 | 367,212 |
Waymo LLC Series A2 (a)(c)(d) | | 15,200 | 926,744 |
| | | 1,293,956 |
HEALTH CARE - 0.0% | | | |
Biotechnology - 0.0% | | | |
Castle Creek Biosciences, Inc. Series A4 (a)(c)(d) | | 9,636 | 1,963,046 |
| | | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | | | 3,257,002 |
TOTAL PREFERRED STOCKS (Cost $61,059,338) | | | 107,598,418 |
| | | |
Additional information on each restricted holding is as follows: |
Security | Acquisition Date | Acquisition Cost ($) |
AgBiome LLC Series C | 6/29/18 | 1,687,925 |
| | |
Akeana Series C | 1/23/24 | 829,452 |
| | |
Ant International Co. Ltd. Class C | 5/16/18 | 2,989,179 |
| | |
Ant International Co. Ltd. 3.55% 8/14/24 | 8/14/23 | 1,081,153 |
| | |
Atom Tickets LLC | 8/15/17 | 1,999,998 |
| | |
Beta Technologies, Inc. Series A | 4/09/21 | 881,658 |
| | |
Blink Health LLC Series A1 | 12/30/20 | 170,206 |
| | |
Blink Health LLC Series C | 11/07/19 - 1/21/21 | 1,038,273 |
| | |
Bolt Technology OU Series E | 1/03/22 | 4,717,904 |
| | |
ByteDance Ltd. Series E1 | 11/18/20 | 4,067,284 |
| | |
Castle Creek Biosciences, Inc. Series A4 | 9/29/16 | 3,185,523 |
| | |
Castle Creek Biosciences, Inc. Series B | 10/09/18 | 440,268 |
| | |
Castle Creek Biosciences, Inc. Series D2 | 6/28/21 | 110,200 |
| | |
CoreWeave, Inc. | 11/29/23 | 8,341,431 |
| | |
Databricks, Inc. Series G | 2/01/21 | 3,068,465 |
| | |
Databricks, Inc. Series I | 9/14/23 | 87,539 |
| | |
Dataminr, Inc. Series D | 3/06/15 | 1,477,738 |
| | |
Diamond Foundry, Inc. Series C | 3/15/21 | 3,000,000 |
| | |
Enevate Corp. Series E | 1/29/21 | 1,598,398 |
| | |
Enevate Corp. 6% | 11/02/23 | 74,970 |
| | |
Epic Games, Inc. | 7/30/20 | 618,700 |
| | |
Fanatics, Inc. Class A | 8/13/20 | 2,754,038 |
| | |
GoBrands, Inc. Series G | 3/02/21 | 4,894,459 |
| | |
JUUL Labs, Inc. Class A | 2/23/24 | 5,152,785 |
| | |
JUUL Labs, Inc. Class B | 11/21/17 | 0 |
| | |
JUUL Labs, Inc. Series C | 5/22/15 - 7/06/18 | 0 |
| | |
JUUL Labs, Inc. Series D | 6/25/18 - 7/06/18 | 0 |
| | |
Lenskart Solutions Pvt Ltd. | 4/30/24 | 5,104,010 |
| | |
Lightmatter, Inc. Series C | 5/19/23 | 1,278,644 |
| | |
Lightmatter, Inc. Series C2 | 12/18/23 | 317,326 |
| | |
MOD Super Fast Pizza Holdings LLC Series 3 | 11/03/16 - 5/15/19 | 4,548,740 |
| | |
Moloco, Inc. Series A | 6/26/23 | 1,172,220 |
| | |
MultiPlan Corp. warrants | 10/08/20 | 0 |
| | |
Neutron Holdings, Inc. | 2/04/21 | 6,918 |
| | |
Neutron Holdings, Inc. Series 1C | 7/03/18 | 2,268,276 |
| | |
Neutron Holdings, Inc. 4% 5/22/27 | 6/04/20 | 433,800 |
| | |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 115,200 |
| | |
Rad Power Bikes, Inc. | 1/21/21 | 531,635 |
| | |
Rad Power Bikes, Inc. warrants 10/6/33 | 10/06/23 | 0 |
| | |
Rad Power Bikes, Inc. Series A | 1/21/21 | 69,309 |
| | |
Rad Power Bikes, Inc. Series C | 1/21/21 | 272,725 |
| | |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 74,246 |
| | |
Retym, Inc. Series C | 5/17/23 - 6/20/23 | 1,314,384 |
| | |
Space Exploration Technologies Corp. Class A | 4/06/17 - 9/11/17 | 2,534,625 |
| | |
Space Exploration Technologies Corp. Class C | 9/11/17 | 92,610 |
| | |
Space Exploration Technologies Corp. Series G | 1/20/15 - 9/07/23 | 3,949,239 |
| | |
Space Exploration Technologies Corp. Series H | 8/04/17 | 856,980 |
| | |
Space Exploration Technologies Corp. Series J | 9/07/23 | 4,354,560 |
| | |
Space Exploration Technologies Corp. Series N | 8/04/20 | 3,455,730 |
| | |
Stripe, Inc. Class B | 5/18/21 | 798,555 |
| | |
Stripe, Inc. Series H | 3/15/21 | 349,088 |
| | |
Stripe, Inc. Series I | 3/20/23 - 5/12/23 | 2,720,605 |
| | |
Tanium, Inc. Class B | 4/21/17 | 749,609 |
| | |
Tory Burch LLC | 5/14/15 | 7,600,030 |
| | |
Waymo LLC Series A2 | 5/08/20 | 1,305,181 |
| | |
Xsight Labs Ltd. warrants 1/11/34 | 1/11/24 | 0 |
| | |
Xsight Labs Ltd. Series D | 2/16/21 | 1,123,438 |
| | |
Xsight Labs Ltd. Series D1 | 1/11/24 | 411,010 |
| | |
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. Corporate 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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